Summary

1

Z.1, December 9, 2013 Flow of Funds Matrix for 2012

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic Instrument

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

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

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

 1 Gross saving less net cap. transfers -- 2224.5 -- 2119.8 -- 52.8 -- -930.5 -- 3466.5 -- 331.2 -- 432.4 -- 4230.1 --  2 Capital consumption -- 1373.0 -- 1451.1 -- 231.4 -- 262.3 -- 3317.7 -- 188.3 -- -- -- 3506.0 --  3 Net saving (1 less 2) -- 851.5 -- 668.7 -- -178.6 -- -1192.8 -- 148.8 -- 142.9 -- 432.4 -- 724.2 --  4 Gross investment (5 plus 11) 2594.7 -- 1997.0 -- 99.3 -- -842.9 -- 3848.1 -- 254.9 -- 446.3 -- 4549.3 -- -319.2 5 Capital expenditures 1613.2 -- 1777.9 -- 345.1 -- 282.7 -- 4019.0 -- 198.7 -- 0.0 -- 4217.7 -- 12.4 6 Consumer durables 1123.5 -- -- -- -- -- -- -- 1123.5 -- -- -- -- -- 1123.5 -- --  7 Residential 354.3 -- 79.5 -- 5.3 -- 0.9 -- 440.1 -- 5.3 -- -- -- 445.4 -- --  8 Nonresidential 143.8 -- 1632.8 -- 329.6 -- 283.1 -- 2389.3 -- 193.4 -- -- -- 2582.7 -- --  9 Inventory change -- -- 66.1 -- -- -- -- -- 66.1 -- -- -- -- -- 66.1 -- -- 10 Nonproduced nonfinancial assets -8.4 -- -0.4 -- 10.2 -- -1.4 -- 0.0 -- -- -- 0.0 -- -- -- -- 11 Net lending (+) or net borrowing (-) 981.5 -- 219.1 -- -245.8 -- -1125.6 -- -170.9 -- 56.2 -- 446.3 -- 331.6 -- -331.612 Total financial assets 1077.1 -- 958.3 -- -61.0 -- 116.4 -- 2090.8 -- 1779.7 -- 696.8 -- 4567.4 -- -- 13 Total liabilities -- 95.5 -- 739.3 -- 184.8 -- 1242.1 -- 2261.7 -- 1723.6 -- 250.5 -- 4235.7 -- 14 U.S. official reserve assets -- -- -- -- -- -- 4.3 0.0 4.3 0.0 0.2 -- 0.0 4.5 4.5 4.5 -- 15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- -- -- 0.0 -- 0.0 0.6 -- -- -- 0.6 0.0 -0.617 Foreign deposits -1.8 -- -21.4 -- -- -- -- -- -23.2 -- 0.4 -- -- -30.2 -22.9 -30.2 -7.318 Interbank claims -- -- -- -- -- -- -- -- -- -- -64.1 -188.2 -136.0 -- -200.1 -188.2 11.919 Checkable dep. and currency 84.5 -- 105.9 -- -8.9 -- 6.7 -- 188.1 -- 10.9 268.5 68.2 -- 267.2 268.5 1.320 Time and savings deposits 421.6 -- 29.3 -- 20.3 -- 0.2 -- 471.4 -- 12.2 520.4 36.8 -- 520.4 520.4 -- 21 Money market fund shares -3.1 -- -3.1 -- -7.5 -- -- -- -13.8 -- -16.0 7.1 36.8 -- 7.1 7.1 -- 22 Fed. funds and security RPs -- -- -2.2 -- -5.9 -- -- -- -8.1 -- 96.8 -22.6 2.6 39.7 91.2 17.1 -74.223 Credit market instruments 22.5 28.5 9.9 720.1 -57.5 -5.3 105.0 1140.2 80.0 1883.6 1082.2 -395.6 452.0 126.2 1614.1 1614.1 -- 24 Open market paper -0.3 -- -7.5 14.0 -4.6 -- -- -- -12.4 14.0 -7.9 -58.8 3.4 27.9 -16.9 -16.9 -- 25 Treasury securities 229.2 -- 7.8 -- -9.3 -- -- 1140.6 227.8 1140.6 323.2 -- 589.5 -- 1140.6 1140.6 -- 26 Agency- and GSE-backed sec. -122.4 -- -2.6 -- -25.0 -- -31.1 -0.4 -181.2 -0.4 230.2 -22.4 -71.8 -- -22.8 -22.8 -- 27 Municipal securities -152.3 -14.5 12.2 15.2 -0.6 -5.7 -- -- -140.7 -4.9 138.2 -- -2.4 -- -4.9 -4.9 -- 28 Corporate and fgn. bonds 98.5 -- -- 579.6 -8.0 -- -0.2 -- 90.3 579.6 358.8 -209.6 -16.9 62.2 432.2 432.2 -- 29 Depository inst. loans n.e.c. -- 111.5 -- 166.1 -- -- -- -- -- 277.6 184.1 -124.0 -- 30.4 184.1 184.1 -- 30 Other loans and advances -2.5 1.2 -- -19.0 -- 0.4 2.5 -- 0.0 -17.4 41.7 3.5 -49.9 5.7 -8.2 -8.2 -- 31 Mortgages -20.3 -239.1 -0.0 -35.7 -9.9 -- 1.7 0.0 -28.6 -274.9 -230.6 15.6 -- -- -259.3 -259.3 -- 32 Consumer credit -7.4 169.4 0.0 -- -- -- 132.1 -- 124.7 169.4 44.6 -- -- -- 169.4 169.4 -- 33 Corporate equities -330.9 -- -- -399.7 -4.3 -- -13.2 -- -348.4 -399.7 164.1 168.6 35.8 82.6 -148.5 -148.5 -- 34 Mutual fund shares 401.5 -- -1.6 -- -2.2 -- -- -- 397.6 -- 68.9 625.9 159.4 -- 625.9 625.9 -- 35 Trade credit -- 1.5 89.1 121.5 8.3 39.1 2.6 7.9 100.1 170.0 -1.6 -0.0 11.5 6.3 110.0 176.2 66.336 Security credit 23.6 64.9 -- -- -- -- -- -- 23.6 64.9 165.2 124.0 0.0 0.0 188.9 188.9 -- 37 Life insurance reserves -26.3 -- -- -- -- -- -- 0.3 -26.3 0.3 14.7 -11.9 -- -- -11.6 -11.6 -- 38 Pension entitlements 497.1 -- -- -- -- -- -- -- 497.1 -- -- 497.1 -- -- 497.1 497.1 -- 39 Taxes payable -- -- -- 7.8 1.3 -- 11.9 -- 13.3 7.8 -- 6.6 -- -- 13.3 14.3 1.040 Equity in noncorp. business -5.8 -- -- -12.3 -- -- -- -- -5.8 -12.3 -- 6.5 -- -- -5.8 -5.8 -- 41 Miscellaneous -5.8 0.6 752.4 301.9 -4.6 151.0 -1.0 93.7 740.9 547.1 245.3 117.3 29.8 21.5 1016.0 685.9 -330.142 Sector discrepancies (1 less 4) -370.3 -- 122.8 -- -46.5 -- -87.6 -- -381.6 -- 76.3 -- -13.9 -- -319.2 -- -319.2General 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, December 9, 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 59521.5 -- 19291.3 -- 2671.6 -- 1505.6 -- 82990.0 -- 73552.7 -- 20644.3 -- 177187.0 -- -9426.2 2 Total liabilities and equity -- 13598.8 -- 44461.8 -- 5198.1 -- 15238.6 -- 78497.2 -- 74457.3 -- 16277.8 -- 169232.4 --  3 Total liabilities -- 13598.8 -- 20198.7 -- 5198.1 -- 15238.6 -- 54234.1 -- 69502.8 -- 10887.3 -- 134624.2 --  4 U.S. official reserve assets -- -- -- -- -- -- 102.8 54.3 102.8 54.3 35.8 -- 54.3 127.5 192.8 181.8 -11.0 5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- -- -- 5.2 5.2 --  6 Treasury currency -- -- -- -- -- -- -- 25.9 -- 25.9 44.8 -- -- -- 44.8 25.9 -18.8 7 Foreign deposits 45.1 -- 13.4 -- -- -- -- -- 58.5 -- 43.3 -- -- 750.1 101.8 750.1 648.3 8 Interbank claims -- -- -- -- -- -- -- -- -- -- 1561.7 1718.0 102.1 -- 1663.8 1718.0 54.3 9 Checkable dep. and currency 828.4 -- 899.1 -- 117.7 -- 92.0 -- 1937.0 -- 373.3 2857.8 540.4 -- 2850.8 2857.8 7.010 Time and savings deposits 7204.4 -- 951.2 -- 289.8 -- 2.0 -- 8447.4 -- 629.9 9463.8 386.5 -- 9463.8 9463.8 -- 11 Money market fund shares 1106.7 -- 536.9 -- 141.7 -- -- -- 1785.3 -- 748.0 2649.6 116.4 -- 2649.6 2649.6 -- 12 Fed. funds and security RPs -- -- 10.3 -- 111.7 -- -- -- 122.1 -- 986.4 1129.1 765.7 847.7 1874.1 1976.8 102.713 Credit market instruments 5627.9 12980.5 330.0 12732.0 1446.7 2980.0 918.4 11593.7 8323.0 40286.2 39048.4 13909.7 9608.7 2784.1 56980.1 56980.1 -- 14 Open market paper 19.0 -- 60.3 130.3 86.1 -- -- -- 165.5 130.3 591.8 449.1 195.2 373.0 952.4 952.4 -- 15 Treasury securities 971.4 -- 99.3 -- 536.2 -- -- 11568.9 1606.9 11568.9 4388.2 -- 5573.8 -- 11568.9 11568.9 -- 16 Agency- and GSE-backed sec. 184.5 -- 11.7 -- 472.9 -- 0.0 24.9 669.1 24.9 5881.2 7529.7 1004.3 -- 7554.6 7554.6 -- 17 Municipal securities 1654.7 241.0 40.2 509.1 12.2 2964.3 -- -- 1707.1 3714.4 1939.5 -- 67.9 -- 3714.4 3714.4 -- 18 Corporate and fgn. bonds 2639.7 -- -- 5795.2 151.5 -- 0.6 -- 2791.8 5795.2 7506.6 4983.9 2621.3 2140.7 12919.7 12919.7 -- 19 Depository inst. loans n.e.c. -- 66.3 -- 1680.1 -- -- -- -- -- 1746.4 2322.7 338.7 -- 237.7 2322.7 2322.7 -- 20 Other loans and advances 20.9 139.3 -- 1226.4 -- 15.7 188.7 -- 209.6 1381.4 1475.0 416.6 146.2 32.8 1830.8 1830.8 -- 21 Mortgages 70.6 9609.6 69.9 3390.8 187.8 -- 112.3 0.0 440.7 13000.4 12751.5 191.8 -- -- 13192.2 13192.2 -- 22 Consumer credit 67.1 2924.3 48.5 -- -- -- 616.8 -- 732.4 2924.3 2191.9 -- -- -- 2924.3 2924.3 -- 23 Corporate equities 10327.0 -- -- 16100.6 130.3 -- 39.9 -- 10497.1 16100.6 12466.8 4936.0 3463.2 5390.5 26427.2 26427.2 -- 24 Mutual fund shares 5293.7 -- 181.7 -- 61.9 -- -- -- 5537.3 -- 2811.3 9323.6 975.0 -- 9323.6 9323.6 -- 25 Trade credit -- 289.7 2867.3 2326.1 162.8 746.5 50.3 228.2 3080.4 3590.5 133.2 14.2 145.6 69.3 3359.2 3674.0 314.726 Security credit 776.0 303.7 -- -- -- -- -- -- 776.0 303.7 736.4 1208.7 0.0 0.0 1512.5 1512.5 -- 27 Life insurance reserves 1186.1 -- -- -- -- -- -- 50.0 1186.1 50.0 172.9 1309.0 -- -- 1359.0 1359.0 -- 28 Pension entitlements 18075.1 -- -- -- -- -- -- -- 18075.1 -- -- 18075.1 -- -- 18075.1 18075.1 -- 29 Taxes payable -- -- -- 159.7 121.3 -- 158.1 -- 279.4 159.7 -- -77.1 -- -- 279.4 82.5 -196.930 Equity in noncorp. business 8181.0 -- -- 8162.4 -- -- -- -- 8181.0 8162.4 -- 18.6 -- -- 8181.0 8181.0 -- 31 Miscellaneous 870.2 24.9 13501.4 4981.0 87.8 1471.5 142.0 3281.2 14601.5 9758.7 13755.3 7921.3 4486.6 6308.5 32843.3 23988.5 -10326.4General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 25) and equity in noncorporate business (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
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Z.1, December 9, 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

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 11.4 13.7 9.1 11.6 14.1 10.9 13.6 26.2 2.9

1987 9.1 10.4 13.4 4.8 7.8 8.8 12.0 8.0 18.3 3.2

1988 9.1 9.8 11.8 6.7 9.9 10.9 6.0 8.0 13.1 -1.2

1989 7.3 9.1 10.9 6.3 6.3 7.4 5.3 7.0 10.5 -2.1

1990 6.5 7.0 8.9 1.9 3.6 5.3 5.0 11.0 8.6 3.0

1991 4.4 5.1 7.0 -1.1 -2.1 -2.1 9.2 11.1 5.9 3.4

1992 4.6 5.4 6.5 1.1 -0.3 0.7 1.5 10.9 8.5 3.9

1993 5.6 6.0 5.5 7.4 3.1 5.3 5.3 8.3 9.7 15.6

1994 5.1 7.7 5.6 15.2 5.4 7.1 -3.9 4.7 14.0 -4.4

1995 5.0 7.0 4.9 14.4 6.2 7.1 -5.5 4.1 11.4 15.6

1996 5.1 6.7 6.2 9.0 6.0 6.0 -2.0 4.0 12.4 14.5

1997 5.5 5.9 6.1 5.5 9.2 9.6 4.9 0.6 12.0 11.1

1998 6.5 7.6 8.0 7.2 11.5 10.9 6.2 -1.4 19.4 4.6

1999 6.2 8.0 9.4 7.8 10.4 9.5 3.3 -1.9 16.6 1.5

2000 5.0 9.0 8.7 11.4 9.3 8.6 1.4 -8.0 10.7 7.6

2001 6.4 9.6 10.6 8.6 6.0 4.9 8.8 -0.2 10.6 -2.2

2002 7.4 10.6 13.3 5.6 3.0 1.3 11.1 7.6 9.6 9.0

2003 8.0 11.8 14.5 5.3 2.2 1.7 8.3 10.9 10.7 4.1

2004 9.3 11.1 13.5 5.6 6.8 4.8 11.4 9.0 8.6 11.9

2005 9.3 11.2 13.4 4.5 9.0 6.9 5.8 7.0 9.4 7.9

2006 8.7 10.0 11.2 5.3 10.9 9.2 3.9 3.9 10.3 21.8

2007 8.6 6.8 7.1 6.1 13.6 13.5 5.5 4.9 12.7 9.2

2008 6.0 0.1 -0.4 1.3 6.3 5.2 0.6 24.2 5.5 -10.0

2009 3.1 -1.7 -1.5 -3.9 -2.2 -1.9 4.0 22.7 -10.6 11.9

2010 4.0 -2.8 -3.8 -1.0 1.5 2.8 2.3 20.2 -5.9 3.8

2011 3.7 -1.4 -2.3 4.1 4.8 7.1 -1.7 11.4 -3.0 5.6

2012 4.9 0.2 -2.4 6.1 6.0 8.1 -0.2 10.9 -2.8 5.0

2007 -- Q1 8.7 7.6 8.9 4.9 11.6 10.2 7.0 6.7 11.2 13.7

 Q2 8.3 7.2 7.7 5.7 14.0 14.4 6.1 1.3 10.5 17.9

 Q3 8.8 7.0 7.2 7.8 14.0 14.5 4.4 5.6 16.5 2.1

 Q4 7.3 4.8 3.8 5.7 12.5 12.3 3.9 5.4 10.1 2.1

2008 -- Q1 6.6 4.0 3.4 6.0 9.1 9.0 2.0 10.7 6.1 11.0

 Q2 3.5 -0.2 -0.3 2.4 7.6 7.0 0.9 5.8 6.4 -0.2

 Q3 7.2 -1.0 -1.3 -0.7 5.5 4.5 0.7 36.0 6.6 -28.4

 Q4 6.1 -2.4 -3.3 -2.4 2.4 -0.2 -1.1 37.5 2.6 -25.0

2009 -- Q1 4.3 -1.1 0.1 -3.1 -0.8 -0.5 2.7 25.8 -10.8 11.4

 Q2 4.4 -1.5 -1.8 -5.8 -1.9 -1.2 5.1 27.0 -13.4 11.3

 Q3 2.1 -2.1 -2.3 -3.3 -3.4 -3.5 3.9 18.4 -10.5 15.1

 Q4 1.4 -2.1 -2.1 -3.7 -2.8 -2.6 4.0 13.0 -8.4 6.7

2010 -- Q1 3.8 -3.9 -5.7 -3.0 0.4 1.3 3.4 22.0 -8.2 5.0

 Q2 3.9 -2.2 -2.8 -2.5 -1.0 -1.1 0.5 22.0 -7.1 -2.9

 Q3 4.1 -2.6 -3.3 -0.2 3.6 5.7 1.8 15.9 -4.4 6.2

 Q4 4.1 -2.7 -3.7 1.8 3.0 5.0 3.6 15.6 -5.1 6.5

2011 -- Q1 2.7 -1.9 -2.9 4.1 3.9 6.2 -2.4 9.1 -1.0 18.2

 Q2 2.7 -2.6 -2.3 3.6 5.6 8.4 -2.7 8.0 -4.7 7.3

 Q3 4.7 -1.1 -1.8 3.6 4.3 6.1 -0.3 14.4 -3.2 -2.1

 Q4 4.6 -0.1 -2.4 4.9 5.0 6.7 -1.6 12.1 -3.3 -1.2

2012 -- Q1 4.7 -1.1 -3.5 5.4 4.5 6.4 0.4 13.5 -2.8 0.5

 Q2 5.3 1.4 -2.2 7.4 4.9 6.5 2.9 11.0 -4.8 -2.7

 Q3 3.0 -1.6 -3.3 4.8 5.1 6.8 -0.2 7.1 -2.0 9.0

 Q4 6.2 2.1 -0.9 6.5 9.1 11.7 -3.8 10.4 -1.7 12.4

2013 -- Q1 4.4 -0.7 -2.1 6.2 4.9 7.2 2.4 10.1 -0.0 14.0

 Q2 3.4 0.8 -1.0 5.9 7.2 8.7 1.1 2.5 0.4 1.8

 Q3 3.5 3.0 0.9 6.0 7.5 9.2 -3.9 1.5 0.3 3.8

1. Data shown are on an end-of-period basis.
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4 Z.1, December 9, 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

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 845.4 258.6 199.3 55.8 296.7 229.5 74.2 216.0 330.1 10.2

1987 721.3 264.3 221.5 32.3 222.6 164.6 90.4 143.9 291.8 11.4

1988 784.4 270.4 215.7 46.6 308.5 224.4 50.4 155.1 249.8 -4.4

1989 685.3 276.8 224.9 47.0 214.8 166.4 47.4 146.4 224.8 -7.9

1990 658.4 233.2 200.1 15.1 131.2 130.9 47.1 246.9 207.8 11.1

1991 473.4 183.3 174.6 -8.8 -79.3 -53.1 91.2 278.2 153.1 13.4

1992 514.3 203.2 173.1 9.2 -9.3 17.1 16.5 304.0 236.5 16.4

1993 667.3 239.4 156.3 61.4 113.8 134.4 57.9 256.1 292.9 67.5

1994 639.8 324.3 166.5 135.0 205.3 190.8 -45.5 155.9 464.4 -23.2

1995 653.5 319.0 153.6 147.0 250.8 205.5 -60.8 144.4 433.6 76.4

1996 706.1 324.8 205.1 105.7 257.0 186.5 -20.5 144.9 523.2 89.0

1997 794.2 305.0 215.9 70.3 415.3 313.4 50.8 23.1 570.3 77.7

1998 998.0 415.1 301.4 97.1 568.8 389.8 66.8 -52.6 1026.5 36.0

1999 1011.5 474.5 379.2 112.4 571.0 377.2 37.3 -71.2 1052.6 12.9

2000 864.8 575.1 383.5 176.5 568.7 376.2 16.9 -295.9 790.8 60.5

2001 1164.1 666.5 508.2 150.6 397.7 234.2 105.5 -5.6 862.3 -19.0

2002 1429.6 812.4 705.9 105.2 215.0 63.2 144.6 257.6 881.4 81.4

2003 1671.4 992.6 871.5 105.9 162.2 88.4 120.5 396.0 1071.0 45.0

2004 2097.1 1052.4 934.9 117.2 504.0 249.3 178.8 361.9 939.0 152.4

2005 2347.0 1184.9 1053.3 100.4 713.5 371.9 141.7 306.9 1113.8 115.8

2006 2402.3 1170.3 997.4 121.9 947.6 532.4 100.9 183.4 1336.4 335.7

2007 2581.9 881.0 701.3 151.3 1317.2 855.6 146.7 237.1 1813.9 175.6

2008 1959.8 12.7 -39.2 34.8 689.9 371.2 17.9 1239.2 896.8 -216.2

2009 1070.0 -231.2 -160.0 -103.7 -255.7 -147.0 113.0 1443.9 -1808.7 208.1

2010 1440.4 -380.3 -396.0 -25.3 170.9 203.0 69.5 1580.2 -931.9 81.4

2011 1376.1 -186.5 -228.9 108.9 547.3 527.0 -52.7 1067.9 -434.9 128.9

2012 1883.6 28.5 -235.9 169.4 720.1 646.1 -5.3 1140.2 -395.6 126.2

2007 -- Q1 2618.0 986.8 880.5 119.5 1114.9 645.0 187.5 328.9 1592.5 261.5

 Q2 2569.7 950.7 784.3 141.9 1388.4 936.3 165.9 64.6 1551.0 353.6

 Q3 2778.7 935.8 739.5 196.8 1439.8 980.2 123.0 280.1 2510.9 42.3

 Q4 2361.4 650.6 400.8 146.8 1325.8 861.0 110.3 274.7 1601.4 45.2

2008 -- Q1 2152.4 551.8 357.2 156.8 994.8 646.1 56.3 549.4 995.0 238.2

 Q2 1156.0 -30.0 -27.9 64.1 855.4 513.1 25.5 305.0 1046.2 -3.6

 Q3 2433.1 -136.1 -139.3 -17.8 628.1 340.7 21.1 1920.1 1099.9 -621.2

 Q4 2097.6 -334.9 -346.9 -63.7 281.4 -15.2 -31.2 2182.3 446.2 -478.4

2009 -- Q1 1480.8 -146.1 12.0 -81.1 -88.0 -37.3 76.0 1638.9 -1848.7 199.8

 Q2 1551.7 -202.4 -186.4 -153.1 -219.8 -94.5 146.2 1827.7 -2297.6 201.4

 Q3 757.1 -293.4 -244.7 -85.7 -391.8 -263.3 113.2 1329.1 -1741.3 290.0

 Q4 490.4 -282.8 -221.0 -95.1 -323.4 -193.0 116.8 979.8 -1347.2 141.3

2010 -- Q1 1341.9 -522.9 -589.5 -77.7 43.3 95.6 100.9 1720.7 -1291.9 105.5

 Q2 1423.2 -291.8 -284.3 -63.8 -110.8 -78.5 14.8 1811.0 -1056.9 -63.6

 Q3 1488.7 -349.0 -334.1 -4.2 405.2 421.4 54.6 1377.9 -637.5 133.7

 Q4 1507.8 -357.2 -376.1 44.3 345.9 373.4 107.8 1411.3 -741.1 150.1

2011 -- Q1 984.7 -250.0 -284.0 109.5 450.4 466.7 -73.6 857.9 -148.5 420.2

 Q2 999.5 -340.6 -222.9 95.7 648.0 639.7 -80.0 772.1 -672.0 178.8

 Q3 1761.8 -137.7 -173.1 96.2 498.8 474.2 -10.2 1410.8 -450.7 -53.6

 Q4 1758.5 -17.4 -235.7 134.1 592.1 527.5 -47.0 1230.9 -468.6 -30.0

2012 -- Q1 1816.8 -142.0 -335.5 148.5 534.4 513.4 13.2 1411.2 -388.7 12.6

 Q2 2057.1 185.1 -208.3 205.7 598.5 528.3 87.8 1185.7 -678.8 -68.3

 Q3 1197.3 -202.7 -313.5 136.3 618.8 557.0 -6.5 787.7 -271.8 230.0

 Q4 2463.1 273.8 -86.3 186.9 1128.8 985.6 -115.5 1176.1 -243.1 330.4

2013 -- Q1 1780.1 -86.5 -193.7 180.5 625.0 626.8 73.0 1168.7 -6.8 389.9

 Q2 1371.7 105.1 -98.1 173.8 933.9 773.8 32.8 299.9 56.0 50.7

 Q3 1431.0 393.2 87.4 179.3 980.7 829.8 -117.0 174.1 35.2 104.9
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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

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 1259.0 350.1

1986 7953.0 2534.2 1648.3 666.4 2860.8 1860.6 752.1 1805.9 1596.6 360.0

1987 8656.1 2752.5 1827.9 698.6 3111.2 2053.0 842.6 1949.8 1899.7 372.3

1988 9437.0 3039.8 2054.2 745.2 3399.3 2257.3 893.0 2104.9 2149.5 371.3

1989 10139.3 3309.2 2259.5 809.3 3638.6 2448.4 940.4 2251.2 2402.8 371.3

1990 10825.1 3571.6 2488.8 824.4 3767.9 2577.4 987.4 2498.1 2613.8 388.9

1991 11295.2 3758.5 2667.0 815.6 3681.7 2519.7 1078.6 2776.4 2766.8 419.2

1992 11812.7 3961.7 2840.0 824.8 3675.6 2540.0 1095.1 3080.3 3018.9 433.6

1993 12494.8 4203.5 2998.7 886.2 3801.8 2686.9 1153.0 3336.5 3317.2 527.1

1994 13140.9 4527.0 3165.3 1021.2 4014.1 2884.8 1107.5 3492.3 3789.7 490.0

1995 13810.3 4846.1 3318.9 1168.2 4280.7 3106.1 1046.7 3636.7 4226.3 612.6

1996 14516.4 5183.8 3537.0 1273.9 4524.6 3279.6 1026.2 3781.7 4749.5 703.3

1997 15309.0 5489.3 3752.8 1344.2 4937.9 3590.9 1076.9 3804.8 5299.7 777.4

1998 16307.0 5903.1 4054.2 1441.3 5508.0 3981.9 1143.8 3752.2 6326.2 835.8

1999 17353.2 6377.9 4431.1 1553.6 6113.3 4393.5 1181.0 3681.0 7376.5 794.8

2000 18227.9 6962.9 4813.3 1741.3 6682.0 4769.7 1197.9 3385.1 8168.4 858.5

2001 19374.9 7628.5 5321.5 1891.8 7063.6 4987.9 1303.4 3379.5 9156.8 901.5

2002 20804.5 8440.9 6027.4 1997.0 7278.7 5051.1 1447.9 3637.0 10038.3 1096.9

2003 22520.1 9463.6 6908.6 2102.9 7455.0 5153.5 1568.4 4033.1 10944.6 1279.4

2004 25349.1 10536.1 7858.4 2220.1 7969.9 5413.8 2448.2 4395.0 11898.4 1462.0

2005 27696.1 11721.0 8911.7 2320.6 8683.4 5785.7 2589.8 4701.9 12957.7 1539.9

2006 30174.2 12946.3 9909.0 2462.8 9651.8 6338.9 2690.8 4885.3 14261.1 1911.8

2007 32765.2 13829.8 10610.3 2616.6 10975.5 7201.0 2837.5 5122.3 16204.8 2160.8

2008 34724.9 13847.5 10576.0 2651.4 11660.5 7567.2 2855.4 6361.5 17101.3 1753.2

2009 35667.3 13572.9 10416.0 2553.5 11320.6 7336.1 2968.4 7805.4 15688.7 2131.1

2010 37039.9 13197.7 9906.7 2648.1 11418.6 7472.2 3038.0 9385.6 14485.7 2314.0

2011 38421.4 13016.6 9677.8 2757.0 11965.9 7999.3 2985.3 10453.6 14045.4 2513.8

2012 40286.2 12980.5 9436.9 2924.3 12732.0 8688.9 2980.0 11593.7 13909.7 2784.1

2007 -- Q1 30835.2 13193.0 10129.2 2492.6 9937.0 6506.6 2737.7 4967.5 14786.4 1975.5

 Q2 31477.6 13430.7 10325.2 2528.1 10284.2 6740.7 2779.1 4983.6 15174.2 2055.4

 Q3 32174.8 13667.2 10510.1 2579.9 10644.1 6985.7 2809.9 5053.7 15804.4 2115.2

 Q4 32765.2 13829.8 10610.3 2616.6 10975.5 7201.0 2837.5 5122.3 16204.8 2160.8

2008 -- Q1 33303.3 13967.8 10699.6 2655.7 11224.2 7362.5 2851.5 5259.7 16453.5 2254.8

 Q2 33592.3 13960.3 10692.7 2671.8 11438.1 7490.8 2857.9 5335.9 16715.1 2183.6

 Q3 34200.5 13931.2 10662.8 2667.3 11590.1 7571.0 2863.2 5816.0 16989.7 1915.9

 Q4 34724.9 13847.5 10576.0 2651.4 11660.5 7567.2 2855.4 6361.5 17101.3 1753.2

2009 -- Q1 35034.0 13740.3 10579.1 2631.1 11648.1 7567.5 2874.4 6771.3 17091.7 1779.0

 Q2 35422.0 13689.7 10532.5 2598.7 11593.1 7543.8 2910.9 7228.2 16517.3 1920.3

 Q3 35611.2 13616.3 10471.3 2577.2 11495.2 7478.0 2939.2 7560.5 16082.0 2094.3

 Q4 35667.3 13572.9 10416.0 2553.5 11320.6 7336.1 2968.4 7805.4 15688.7 2131.1

2010 -- Q1 36034.0 13454.9 10267.5 2537.6 11349.9 7377.3 2993.6 8235.6 14857.7 2179.7

 Q2 36389.8 13382.0 10196.4 2521.7 11322.2 7357.6 2997.3 8688.4 14593.4 2169.2

 Q3 36765.6 13298.3 10116.5 2520.7 11423.5 7463.0 3011.0 9032.8 14434.1 2309.4

 Q4 37039.9 13197.7 9906.7 2648.1 11418.6 7472.2 3038.0 9385.6 14485.7 2314.0

2011 -- Q1 37286.1 13135.2 9835.7 2675.5 11531.2 7588.9 3019.6 9600.1 14448.6 2437.3

 Q2 37541.3 13055.4 9780.0 2699.4 11693.2 7748.8 2999.6 9793.2 14275.2 2521.0

 Q3 37981.8 13021.0 9736.7 2723.4 11817.9 7867.3 2997.0 10145.9 14162.6 2508.6

 Q4 38421.4 13016.6 9677.8 2757.0 11965.9 7999.3 2985.3 10453.6 14045.4 2513.8

2012 -- Q1 38871.1 12983.5 9593.9 2794.1 12092.7 8118.3 2988.6 10806.4 14011.8 2553.3

 Q2 39380.4 13024.8 9536.8 2843.5 12242.3 8250.3 3010.5 11102.8 13842.1 2543.4

 Q3 39671.9 12914.3 9458.5 2877.6 12448.9 8441.5 3008.9 11299.7 13960.4 2675.5

 Q4 40286.2 12980.5 9436.9 2924.3 12732.0 8688.9 2980.0 11593.7 13909.7 2784.1

2013 -- Q1 40731.2 12958.8 9388.5 2969.5 12888.2 8845.5 2998.2 11885.9 13908.0 2855.6

 Q2 41074.1 12985.1 9363.9 3012.9 13121.7 9038.9 3006.4 11960.9 13922.0 2778.6

 Q3 41431.9 13083.4 9385.8 3057.7 13366.9 9246.4 2977.2 12004.4 13930.8 2804.8

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

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Credit market borrowing -530.6 590.0 1070.1 1614.1 1440.7 1310.0 1155.4 2550.5 2163.3 1478.3 1571.2 1

 2 Domestic nonfinancial sectors 1070.0 1440.4 1376.1 1883.6 1816.8 2057.1 1197.3 2463.1 1780.1 1371.7 1431.0 2

 3 Household sector -231.2 -380.3 -186.5 28.5 -142.0 185.1 -202.7 273.8 -86.5 105.1 393.2 3

 4 Nonfinancial corporate business -147.0 203.0 527.0 646.1 513.4 528.3 557.0 985.6 626.8 773.8 829.8 4

 5 Nonfinancial noncorporate business -108.7 -32.1 20.3 74.0 21.0 70.2 61.8 143.1 -1.8 160.1 150.9 5

 6 State and local governments 113.0 69.5 -52.7 -5.3 13.2 87.8 -6.5 -115.5 73.0 32.8 -117.0 6

 7 Federal government 1443.9 1580.2 1067.9 1140.2 1411.2 1185.7 787.7 1176.1 1168.7 299.9 174.1 7

 8 Rest of the world 208.1 81.4 128.9 126.2 12.6 -68.3 230.0 330.4 389.9 50.7 104.9 8

 9 Financial sectors -1808.7 -931.9 -434.9 -395.6 -388.7 -678.8 -271.8 -243.1 -6.8 56.0 35.2 9

 10 U.S.-chartered depository institutions -292.2 -161.7 -73.9 -27.2 -35.7 -23.0 -74.5 24.3 -4.9 64.4 5.4 10

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

 12 Credit unions -14.1 -0.4 -2.0 0.9 -5.1 3.3 2.6 2.8 -11.4 4.9 12.5 12

 13 Life insurance companies -6.6 -3.2 1.8 4.8 6.6 15.7 -0.2 -3.0 5.2 6.5 -2.9 13

 14 Government-sponsored enterprises -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 136.7 40.2 14

 15 Agency- and GSE-backed mortgage pools 415.3 186.9 165.3 132.2 134.5 146.5 105.6 142.4 138.8 88.9 158.3 15

 16 ABS issuers -737.0 -497.7 -246.9 -214.5 -229.5 -245.4 -249.7 -133.5 -207.4 -203.9 -144.8 16

 17 Finance companies -156.2 -174.9 -13.5 -56.7 -41.5 -84.0 60.1 -161.6 -49.5 0.1 59.3 17

 18 REITs -50.0 -2.1 28.2 42.9 26.6 57.3 27.4 60.4 16.9 13.1 38.4 18

 19 Brokers and dealers -49.7 36.9 -37.9 -1.7 24.8 16.5 -65.2 17.3 -4.2 55.8 -27.8 19

 20 Holding companies -8.0 -16.5 -16.5 -97.7 12.3 -360.2 26.2 -69.3 -24.5 -149.7 -46.3 20

 21 Funding corporations -434.8 -65.3 -52.4 -23.9 -6.7 -50.6 9.1 -47.4 91.1 39.1 -57.0 21

 22 Credit market lending -530.6 590.0 1070.1 1614.1 1440.7 1310.0 1155.4 2550.5 2163.3 1478.3 1571.2 22

 23 Domestic nonfinancial sectors 322.8 171.0 -219.7 80.0 -310.1 790.7 -324.9 164.2 -382.0 -70.1 -501.1 23

 24 Household sector 47.7 16.3 -155.7 22.5 -289.7 565.1 -457.0 271.9 -456.0 -233.4 -474.2 24

 25 Nonfinancial corporate business 10.0 2.6 -6.7 8.7 9.3 18.5 59.0 -52.0 -112.9 -4.8 56.1 25

 26 Nonfinancial noncorporate business -6.7 6.6 1.0 1.2 0.6 0.8 1.0 2.4 1.9 2.7 2.8 26

 27 State and local governments -37.3 61.1 -77.4 -57.5 -68.2 36.0 -39.8 -157.9 24.1 42.8 -193.0 27

 28 Federal government 309.1 84.4 19.1 105.0 38.0 170.3 111.9 99.8 160.9 122.5 107.2 28

 29 Rest of the world 123.5 623.7 239.6 452.0 546.1 -18.5 702.5 577.8 566.7 79.8 288.4 29

 30 Financial sectors -976.9 -204.7 1050.2 1082.2 1204.7 537.8 777.8 1808.4 1978.6 1468.7 1783.9 30

 31 Monetary authority 1001.6 271.5 376.5 34.5 -33.4 -23.5 -203.4 398.4 1134.2 1083.8 1023.6 31

 32 U.S.-chartered depository institutions -340.5 -174.7 133.7 361.8 263.1 360.9 182.2 641.1 147.3 186.9 75.5 32

 33 Foreign banking offices in U.S. -287.5 -24.4 42.5 5.8 -47.4 -32.4 79.2 23.9 -84.9 -39.1 74.2 33

 34 Banks in U.S.-affiliated areas -2.8 -19.3 -4.9 -0.1 -0.6 -4.6 -2.9 7.5 -1.1 -0.1 -4.0 34

 35 Credit unions 33.5 24.0 37.6 46.0 77.0 41.7 41.9 23.7 53.7 61.0 66.3 35

 36 Property-casualty insurance companies 33.3 3.9 36.2 -2.5 -13.7 -11.0 1.1 13.6 20.4 4.2 23.2 36

 37 Life insurance companies 139.8 151.6 125.8 60.5 118.0 -111.9 147.8 88.1 60.6 54.4 49.9 37

 38 Private pension funds 12.7 123.2 73.2 11.8 42.3 15.7 -6.1 -4.5 27.7 65.9 2.2 38

 39 State and local govt. retirement funds -85.8 22.1 0.4 14.0 47.8 -11.6 -20.2 40.0 53.8 -38.6 91.8 39

 40 Federal government retirement funds 7.4 10.8 20.0 13.9 5.5 16.9 9.4 23.9 -8.7 1.5 23.4 40

 41 Money market mutual funds -619.9 -396.6 -9.8 -82.7 -106.2 -118.5 -27.8 -78.4 79.9 112.2 83.7 41

 42 Mutual funds 387.1 353.6 359.4 642.0 683.2 650.3 655.2 579.2 670.9 257.6 222.9 42

 43 Closed-end funds 10.5 5.3 -1.7 11.2 10.1 4.8 15.0 14.7 30.4 26.1 0.7 43

 44 Exchange-traded funds 46.0 29.7 46.1 52.3 65.0 73.7 30.3 40.3 28.1 13.1 17.3 44

 45 Government-sponsored enterprises -337.8 -328.2 -199.7 -218.6 -229.1 -301.0 -171.9 -172.3 -159.6 162.4 197.5 45

 46 Agency- and GSE-backed mortgage pools 415.3 186.9 165.3 132.2 134.5 146.5 105.6 142.4 138.8 88.9 158.3 46

 47 ABS issuers -702.3 -488.0 -242.7 -208.1 -220.4 -233.8 -245.8 -132.6 -203.2 -188.3 -138.4 47

 48 Finance companies -219.7 -137.2 -42.1 -26.6 -25.6 -22.3 -32.2 -26.4 -18.7 -4.6 -14.5 48

 49 REITs -8.7 37.1 102.9 127.7 227.8 90.6 251.6 -59.3 -28.8 -61.4 -78.7 49

 50 Brokers and dealers -192.1 32.2 5.7 89.1 224.8 -18.0 16.8 132.8 -167.4 -330.1 -5.4 50

 51 Holding companies -16.0 22.1 3.1 -39.8 64.1 -158.2 -28.1 -36.9 26.0 53.0 -40.2 51

 52 Funding corporations -250.9 89.7 22.7 57.6 -82.4 183.4 -19.9 149.1 179.1 -40.1 -45.3 52

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Domestic 1070.0 1440.4 1376.1 1883.6 1816.8 2057.1 1197.3 2463.1 1780.1 1371.7 1431.0 1

 2 By instrument 1070.0 1440.4 1376.1 1883.6 1816.8 2057.1 1197.3 2463.1 1780.1 1371.7 1431.0 2

 3 Commercial paper -73.1 24.5 33.4 14.0 -7.9 29.0 -35.5 70.5 21.2 -19.0 92.7 3

 4 Treasury securities 1443.7 1579.6 1066.8 1140.6 1414.6 1185.5 788.0 1174.1 1169.7 298.5 173.6 4

 5 Agency- and GSE-backed securities 0.1 0.7 1.1 -0.4 -3.3 0.1 -0.3 1.9 -1.0 1.3 0.5 5

 6 Municipal securities 155.3 99.7 -52.8 -4.9 19.2 95.4 -11.8 -122.6 76.5 24.7 -109.7 6

 7 Corporate bonds 411.7 438.6 410.8 579.6 523.2 426.0 587.1 782.0 578.0 570.8 729.3 7

 8 Depository institution loans n.e.c. -303.1 -51.5 71.7 277.6 260.2 383.5 110.8 356.1 -8.8 151.5 234.8 8

 9 Other loans and advances -164.8 -82.4 67.3 -17.4 -77.1 1.6 -12.8 18.8 17.0 145.8 -109.4 9

 10 Mortgages -296.2 -543.4 -331.0 -274.9 -460.5 -269.8 -364.6 -4.6 -252.9 24.2 239.9 10

 11 Home -214.0 -384.6 -255.1 -248.1 -354.1 -217.7 -327.1 -93.3 -207.8 -98.8 93.5 11

 12 Multifamily residential 4.8 -5.7 5.7 25.4 -4.3 28.9 33.2 43.8 -0.2 48.6 44.6 12

 13 Commercial -98.4 -161.1 -94.8 -58.0 -107.9 -86.8 -76.5 39.1 -50.9 68.3 95.7 13

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

 15 Consumer credit -103.7 -25.3 108.9 169.4 148.5 205.7 136.3 186.9 180.5 173.8 179.3 15

 16 By sector 1070.0 1440.4 1376.1 1883.6 1816.8 2057.1 1197.3 2463.1 1780.1 1371.7 1431.0 16

 17 Household sector -231.2 -380.3 -186.5 28.5 -142.0 185.1 -202.7 273.8 -86.5 105.1 393.2 17

 18 Nonfinancial business -255.7 170.9 547.3 720.1 534.4 598.5 618.8 1128.8 625.0 933.9 980.7 18

 19 Corporate -147.0 203.0 527.0 646.1 513.4 528.3 557.0 985.6 626.8 773.8 829.8 19

 20 Noncorporate -108.7 -32.1 20.3 74.0 21.0 70.2 61.8 143.1 -1.8 160.1 150.9 20

 21 State and local governments 113.0 69.5 -52.7 -5.3 13.2 87.8 -6.5 -115.5 73.0 32.8 -117.0 21

 22 Federal government 1443.9 1580.2 1067.9 1140.2 1411.2 1185.7 787.7 1176.1 1168.7 299.9 174.1 22

 23 Foreign borrowing in U.S. 208.1 81.4 128.9 126.2 12.6 -68.3 230.0 330.4 389.9 50.7 104.9 23

 24 Commercial paper 59.4 -2.7 -53.5 27.9 32.9 -54.2 78.4 54.5 117.2 10.2 -24.4 24

 25 Bonds 163.3 59.9 137.7 62.2 -49.8 -84.9 133.2 250.5 239.8 15.2 85.6 25

 26 Depository institution loans n.e.c. -14.8 24.0 43.2 30.4 21.9 66.5 18.3 15.0 33.3 24.9 41.1 26

 27 Other loans and advances 0.3 0.2 1.4 5.7 7.6 4.3 0.2 10.5 -0.4 0.3 2.6 27

 28 Domestic and foreign 1278.1 1521.8 1505.0 2009.7 1829.4 1988.8 1427.3 2793.5 2170.0 1422.4 1536.0 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 By instrument -1808.7 -931.9 -434.9 -395.6 -388.7 -678.8 -271.8 -243.1 -6.8 56.0 35.2 1

 2 Open market paper -448.1 -102.2 -68.2 -58.8 -29.5 -54.1 -65.4 -86.1 -12.4 -15.7 -132.3 2

 3 GSE issues -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 136.7 40.2 3

 4 Agency- and GSE-backed mortgage pool sec. 415.3 186.9 165.3 132.2 134.5 146.5 105.6 142.4 138.8 88.9 158.3 4

 5 Corporate bonds -586.0 -575.3 -325.6 -209.6 -60.1 -414.3 -223.3 -140.7 -250.6 -293.4 -13.8 5

 6 Depository institution loans n.e.c. -435.4 -62.9 31.6 -124.0 -148.3 -280.6 32.0 -99.0 6.4 29.6 -62.7 6

 7 Other loans and advances -282.6 -144.7 -60.0 3.5 -20.8 53.8 -19.8 0.8 45.7 126.3 62.0 7

 8 Mortgages 3.4 0.2 9.1 15.6 10.4 24.9 12.2 14.9 22.1 -16.4 -16.4 8

 9 By sector -1808.7 -931.9 -434.9 -395.6 -388.7 -678.8 -271.8 -243.1 -6.8 56.0 35.2 9

 10 U.S.-chartered depository institutions -292.2 -161.7 -73.9 -27.2 -35.7 -23.0 -74.5 24.3 -4.9 64.4 5.4 10

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

 12 Credit unions -14.1 -0.4 -2.0 0.9 -5.1 3.3 2.6 2.8 -11.4 4.9 12.5 12

 13 Life insurance companies -6.6 -3.2 1.8 4.8 6.6 15.7 -0.2 -3.0 5.2 6.5 -2.9 13

 14 Government-sponsored enterprises -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 136.7 40.2 14

 15 Agency- and GSE-backed mortgage pools 415.3 186.9 165.3 132.2 134.5 146.5 105.6 142.4 138.8 88.9 158.3 15

 16 ABS issuers -737.0 -497.7 -246.9 -214.5 -229.5 -245.4 -249.7 -133.5 -207.4 -203.9 -144.8 16

 17 Finance companies -156.2 -174.9 -13.5 -56.7 -41.5 -84.0 60.1 -161.6 -49.5 0.1 59.3 17

 18 REITs -50.0 -2.1 28.2 42.9 26.6 57.3 27.4 60.4 16.9 13.1 38.4 18

 19 Brokers and dealers -49.7 36.9 -37.9 -1.7 24.8 16.5 -65.2 17.3 -4.2 55.8 -27.8 19

 20 Holding companies -8.0 -16.5 -16.5 -97.7 12.3 -360.2 26.2 -69.3 -24.5 -149.7 -46.3 20

 21 Funding corporations -434.8 -65.3 -52.4 -23.9 -6.7 -50.6 9.1 -47.4 91.1 39.1 -57.0 21
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F.4 Credit Market Borrowing, All Sectors, by Instrument

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Total -530.6 590.0 1070.1 1614.1 1440.7 1310.0 1155.4 2550.5 2163.3 1478.3 1571.2 1

 2 Open market paper -461.8 -80.4 -88.3 -16.9 -4.6 -79.3 -22.5 38.8 126.0 -24.5 -64.0 2

 3 Treasury securities 1443.7 1579.6 1066.8 1140.6 1414.6 1185.5 788.0 1174.1 1169.7 298.5 173.6 3

 4 Agency- and GSE-backed securities -59.9 -46.2 -20.8 -22.8 -143.8 -8.4 -7.9 68.9 181.0 227.0 199.0 4

 5 Municipal securities 155.3 99.7 -52.8 -4.9 19.2 95.4 -11.8 -122.6 76.5 24.7 -109.7 5

 6 Corporate and foreign bonds -10.9 -76.7 222.9 432.2 413.3 -73.2 497.0 891.8 567.2 292.6 801.0 6

 7 Depository institution loans n.e.c. -753.4 -90.4 146.6 184.1 133.8 169.4 161.0 272.1 30.9 206.0 213.2 7

 8 Other loans and advances -447.0 -226.9 8.6 -8.2 -90.4 59.7 -32.4 30.1 62.3 272.4 -44.8 8

 9 Mortgages -292.9 -543.2 -322.0 -259.3 -450.0 -244.9 -352.4 10.3 -230.8 7.8 223.5 9

 10 Consumer credit -103.7 -25.3 108.9 169.4 148.5 205.7 136.3 186.9 180.5 173.8 179.3 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues 814.9 363.1 36.2 477.4 372.1 391.0 735.0 411.6 1232.2 437.8 455.9 11

 12 Corporate equities 317.9 -7.0 -302.2 -148.5 -214.7 -194.3 -49.7 -135.2 274.4 -69.0 -73.8 12

 13 Nonfinancial -62.1 -277.5 -472.3 -399.7 -291.4 -507.9 -395.6 -404.0 -256.3 -424.1 -369.2 13

 Foreign shares purchased by

 14 U.S. residents 63.7 79.1 6.0 82.6 40.7 176.6 71.5 41.5 295.3 305.3 109.4 14

 15 Financial 316.3 191.3 164.1 168.6 36.0 137.0 274.3 227.3 235.4 49.7 185.9 15

 16 Mutual fund shares 497.1 370.1 338.4 625.9 586.8 585.4 784.7 546.8 957.8 506.9 529.8 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) -530.6 590.0 1070.1 1614.1 1440.7 1310.0 1155.4 2550.5 2163.3 1478.3 1571.2 1

 2 U.S. official reserve assets 99.9 1.8 15.9 4.5 4.9 13.2 3.3 -3.6 3.5 -0.8 2.4 2

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

 4 Treasury currency -0.4 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -1.4 4

 5 Foreign deposits -110.7 -9.3 -46.3 -30.2 -60.9 -111.7 141.0 -89.1 96.8 350.3 171.7 5

 6 Net interbank transactions -541.1 -145.2 818.5 -188.2 205.8 -127.4 -487.5 -343.7 1850.0 2001.2 547.2 6

 7 Checkable deposits and currency -7.9 266.3 234.5 268.5 -73.9 301.1 223.1 623.6 299.1 70.2 173.1 7

 8 Small time and savings deposits 517.2 298.3 577.4 539.7 418.9 473.8 529.6 736.4 130.8 371.4 598.0 8

 9 Large time deposits -173.6 -182.7 -173.3 -19.2 -112.8 3.4 -93.8 126.3 -6.4 46.4 223.9 9

 10 Money market fund shares -498.7 -503.2 -112.8 7.1 -190.9 -148.9 55.3 312.8 -135.0 77.2 270.2 10

 11 Security repurchase agreements 290.4 4.5 -64.4 17.1 233.3 -140.3 -102.2 77.5 -87.9 -507.1 74.1 11

 12 Corporate equities 317.9 -7.0 -302.2 -148.5 -214.7 -194.3 -49.7 -135.2 274.4 -69.0 -73.8 12

 13 Mutual fund shares 497.1 370.1 338.4 625.9 586.8 585.4 784.7 546.8 957.8 506.9 529.8 13

 14 Trade payables -12.0 226.5 58.7 176.2 230.9 180.9 184.9 108.2 191.1 149.8 120.0 14

 15 Security credit -95.9 123.6 97.8 188.9 181.7 135.0 266.3 172.5 -105.7 71.7 74.8 15

 16 Life insurance reserves 26.5 17.2 94.1 -11.6 -9.6 -73.2 11.8 24.6 -10.0 15.3 40.4 16

 17 Pension entitlements 427.4 614.7 473.0 497.1 464.6 381.6 526.3 615.6 464.0 479.4 506.4 17

 18 Taxes payable -3.4 19.4 20.6 14.3 19.5 21.9 28.6 -12.7 27.9 -85.6 6.9 18

 19 Noncorporate proprietors’ equity -69.9 187.1 -52.7 -5.8 25.5 0.6 -11.0 -38.4 89.8 11.1 -18.4 19

 20 Miscellaneous 258.4 1117.4 1716.6 685.9 651.0 499.6 760.0 832.9 1395.4 1146.9 700.4 20

 21 Total financial sources 393.6 2989.4 4763.9 4235.7 3800.9 3110.7 3926.1 6105.2 7599.0 6113.7 5517.0 21

 - Liabilities not identified as assets:

 22 Treasury currency -4.4 -1.1 -0.7 -0.6 -0.8 -0.5 -0.5 -0.5 -0.9 -0.7 -2.1 22

 23 Foreign deposits -122.5 -26.6 25.2 -7.3 6.1 -31.2 107.9 -112.0 7.2 267.1 202.3 23

 24 Net interbank liabilities 10.3 23.5 1.5 11.9 110.8 -20.6 19.1 -61.6 297.3 -20.0 -191.5 24

 25 Security repurchase agreements 420.7 -79.1 -122.5 -74.2 314.3 -240.0 -342.0 -28.9 -455.9 -141.7 -60.2 25

 26 Taxes payable -33.4 -8.4 -2.3 1.0 -16.9 39.2 8.8 -27.0 30.6 -36.9 -3.0 26

 27 Miscellaneous -111.7 158.0 431.8 -330.1 -500.1 -524.8 354.9 -650.5 -620.4 -1188.0 -286.9 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. 0.7 0.0 -0.1 0.6 -45.9 98.8 3.8 -54.2 -44.3 96.2 3.7 29

 30 Private domestic -1.0 -1.1 0.9 0.7 -0.3 -0.3 0.0 3.2 -5.5 2.4 1.9 30

 31 Trade credit 102.5 60.3 -54.1 66.3 58.5 51.2 45.5 109.9 10.4 -52.9 -22.1 31

 Totals identified to sectors

 32 as assets 132.5 2863.9 4484.3 4567.4 3875.2 3738.8 3728.5 6926.8 8380.5 7188.1 5875.1 32
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L.1 Credit Market Debt Outstanding (1)

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

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Total credit market debt owed by: 53487.1 53839.7 54980.6 56980.1 55422.9 55659.7 56237.5 56980.1 57472.8 57676.2 58082.1 1

 2 Domestic nonfinancial sectors 35667.3 37039.9 38421.4 40286.2 38871.0 39265.9 39603.5 40286.2 40724.6 40971.2 41348.4 2

 3 Household sector 13572.9 13197.7 13016.6 12980.5 12943.5 12983.8 12887.3 12980.5 12921.2 12947.0 13052.8 3

 4 Nonfinancial corporate business 7336.1 7472.2 7999.3 8688.9 8115.9 8249.1 8445.9 8688.9 8836.2 9044.8 9242.8 4

 5 Nonfinancial noncorporate business 3984.5 3946.3 3966.6 4043.1 3973.4 3989.6 4005.1 4043.1 4042.2 4080.1 4117.9 5

 6 State and local governments 2968.4 3038.0 2985.3 2980.0 2986.3 2993.3 2985.3 2980.0 2994.9 2986.4 2952.9 6

 7 Federal government 7805.4 9385.6 10453.6 11593.7 10851.9 11050.1 11279.9 11593.7 11930.1 11912.9 11981.9 7

 8 Rest of the world 2131.1 2314.0 2513.8 2784.1 2562.5 2561.0 2682.8 2784.1 2860.6 2791.2 2813.4 8

 9 Financial sectors 15688.7 14485.7 14045.4 13909.7 13989.4 13832.8 13951.2 13909.7 13887.5 13913.9 13920.4 9

 10 U.S.-chartered depository institutions 718.1 942.6 868.7 840.3 840.8 844.7 822.2 840.3 820.7 848.4 841.2 10

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

 12 Credit unions 26.5 26.1 24.2 25.1 22.9 23.7 24.4 25.1 22.2 23.5 26.6 12

 13 Life insurance companies 48.3 45.1 46.8 51.6 48.5 52.4 52.4 51.6 52.9 54.5 53.8 13

 14 Government-sponsored enterprises 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 6137.6 6147.7 14

 15 Agency- and GSE-backed mortgage pools 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 1498.1 1540.8 15

 16 ABS issuers 3287.7 2230.9 1983.9 1769.4 1924.2 1863.3 1802.4 1769.4 1715.5 1664.2 1629.5 16

 17 Finance companies 1044.1 1280.7 1261.9 1205.1 1250.5 1233.6 1244.0 1205.1 1193.0 1196.0 1206.6 17

 18 REITs 317.4 315.2 343.4 386.3 350.1 364.4 371.2 386.3 390.5 393.8 403.4 18

 19 Brokers and dealers 92.9 129.7 91.8 90.2 98.0 102.1 85.8 90.2 89.1 103.1 96.1 19

 20 Holding companies 1253.7 1237.2 1220.8 1418.6 1303.9 1213.9 1428.7 1418.6 1412.4 1375.0 1363.4 20

 21 Funding corporations 816.8 704.2 651.8 593.5 642.0 617.4 600.5 593.5 625.0 619.7 611.2 21

 22 Total credit market assets held by: 53487.1 53839.7 54980.6 56980.1 55422.9 55659.7 56237.5 56980.1 57472.8 57676.2 58082.1 22

 23 Domestic nonfinancial sectors 8142.8 8573.5 8126.7 8323.0 8109.3 8179.1 8253.8 8323.0 8281.5 8338.9 8238.7 23

 24 Household sector 5603.3 5871.8 5489.0 5627.9 5483.5 5506.4 5541.3 5627.9 5574.8 5603.4 5500.1 24

 25 Nonfinancial corporate business 223.7 230.1 223.4 232.1 213.7 221.1 235.6 232.1 191.8 191.7 207.4 25

 26 Nonfinancial noncorporate business 89.1 95.8 96.8 98.0 96.9 97.1 97.4 98.0 98.4 99.1 99.8 26

 27 State and local governments 1520.4 1581.5 1504.2 1446.7 1487.0 1497.3 1480.9 1446.7 1452.1 1464.0 1409.4 27

 28 Federal government 706.3 794.3 813.4 918.4 828.1 857.2 898.6 918.4 964.4 980.7 1022.0 28

 29 Rest of the world 7723.4 8491.8 9029.7 9608.7 9176.8 9232.3 9500.4 9608.7 9738.9 9519.6 9608.1 29

 30 Financial sectors 37620.8 36774.3 37824.2 39048.4 38136.8 38248.3 38483.3 39048.4 39452.3 39817.8 40235.3 30

 31 Monetary authority 1987.7 2259.2 2635.6 2670.1 2613.4 2610.9 2565.1 2670.1 2939.8 3214.2 3475.1 31

 32 U.S.-chartered depository institutions 9144.0 9356.2 9489.9 9840.6 9481.4 9585.7 9645.6 9840.6 9811.7 9874.6 9902.8 32

 33 Foreign banking offices in U.S. 809.6 785.2 827.7 833.5 819.3 806.1 825.1 833.5 816.4 802.2 819.1 33

 34 Banks in U.S.-affiliated areas 88.1 68.9 64.0 63.9 63.9 62.7 62.0 63.9 63.6 63.6 62.6 34

 35 Credit unions 734.6 758.6 796.2 842.3 814.6 829.1 837.8 842.3 855.1 874.1 888.4 35

 36 Property-casualty insurance companies 886.7 890.6 926.8 924.3 923.4 920.6 920.9 924.3 929.4 930.4 936.2 36

 37 Life insurance companies 3022.6 3174.2 3300.0 3360.6 3328.9 3302.7 3343.2 3360.6 3375.2 3390.7 3407.3 37

 38 Private pension funds 795.5 918.6 991.8 1003.7 1002.4 1006.3 1004.8 1003.7 1010.6 1027.0 1027.6 38

 39 State and local govt. retirement funds 737.2 759.3 759.6 773.6 771.6 768.7 763.6 773.6 787.1 777.4 800.4 39

 40 Federal government retirement funds 130.7 141.5 161.6 175.5 163.0 167.2 169.5 175.5 173.3 173.7 179.6 40

 41 Money market mutual funds 2070.0 1673.4 1663.6 1580.9 1600.7 1528.4 1520.2 1580.9 1562.7 1550.9 1572.8 41

 42 Mutual funds 2616.3 2969.9 3329.3 3981.3 3540.0 3699.5 3851.6 3981.3 4184.4 4242.8 4286.7 42

 43 Closed-end funds 141.1 146.4 144.7 155.9 147.3 148.5 152.2 155.9 163.5 170.0 170.2 43

 44 Exchange-traded funds 103.0 132.7 178.8 231.1 195.1 213.5 221.1 231.1 238.2 241.4 245.8 44

 45 Government-sponsored enterprises 2699.7 6333.1 6133.4 5914.8 6095.8 6014.0 5950.1 5914.8 5899.5 5932.8 5954.5 45

 46 Agency- and GSE-backed mortgage pools 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 1498.1 1540.8 46

 47 ABS issuers 3224.2 2179.1 1936.3 1728.2 1878.9 1820.9 1761.0 1728.2 1675.4 1627.9 1594.9 47

 48 Finance companies 1549.7 1405.4 1363.2 1331.6 1352.8 1336.2 1334.2 1331.6 1322.4 1314.4 1314.7 48

 49 REITs 168.9 206.0 308.9 436.6 365.9 388.5 451.4 436.6 429.4 414.1 394.4 49

 50 Brokers and dealers 525.3 557.5 563.2 652.3 610.7 600.5 589.1 652.3 602.7 516.9 499.1 50

 51 Holding companies 75.8 97.9 101.1 219.5 223.0 183.4 229.9 219.5 226.0 239.2 229.2 51

 52 Funding corporations 733.5 821.2 843.6 891.1 815.2 877.5 876.8 891.1 923.2 941.1 933.3 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

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Domestic 35667.3 37039.9 38421.4 40286.2 38871.0 39265.9 39603.5 40286.2 40724.6 40971.2 41348.4 1

 2 By instrument 35667.3 37039.9 38421.4 40286.2 38871.0 39265.9 39603.5 40286.2 40724.6 40971.2 41348.4 2

 3 Commercial paper 58.4 82.9 116.3 130.3 127.6 132.1 136.0 130.3 140.1 147.2 171.1 3

 4 Treasury securities 7781.9 9361.5 10428.3 11568.9 10827.5 11025.6 11255.5 11568.9 11905.5 11887.9 11956.8 4

 5 Agency- and GSE-backed securities 23.5 24.2 25.3 24.9 24.4 24.5 24.4 24.9 24.6 25.0 25.1 5

 6 Municipal securities 3672.5 3772.1 3719.4 3714.4 3720.0 3732.4 3719.4 3714.4 3728.6 3721.1 3685.7 6

 7 Corporate bonds 4366.2 4804.8 5215.6 5795.2 5346.4 5452.9 5599.7 5795.2 5939.7 6082.4 6264.7 7

 8 Depository institution loans n.e.c. 1500.2 1465.5 1542.6 1746.4 1585.7 1685.6 1645.7 1746.4 1738.2 1781.4 1825.6 8

 9 Other loans and advances 1458.4 1269.4 1336.7 1381.4 1323.9 1319.9 1368.9 1381.4 1383.9 1414.0 1386.9 9

 10 Mortgages 14252.8 13611.3 13280.2 13000.4 13166.5 13093.9 12994.6 13000.4 12939.6 12943.9 12993.0 10

 11 Home 10935.8 10437.9 10182.8 9929.7 10094.2 10034.8 9943.7 9929.7 9878.1 9852.1 9864.0 11

 12 Multifamily residential 827.6 823.2 829.0 854.4 827.9 835.1 843.4 854.4 854.3 866.5 877.6 12

 13 Commercial 2343.4 2196.1 2101.3 2043.3 2075.7 2053.9 2035.9 2043.3 2032.7 2049.2 2073.9 13

 14 Farm 146.0 154.1 167.2 173.0 168.6 170.1 171.5 173.0 174.5 176.0 177.5 14

 15 Consumer credit 2553.5 2648.1 2757.0 2924.3 2749.1 2799.0 2859.4 2924.3 2924.4 2968.4 3039.5 15

 16 By sector 35667.3 37039.9 38421.4 40286.2 38871.0 39265.9 39603.5 40286.2 40724.6 40971.2 41348.4 16

 17 Household sector 13572.9 13197.7 13016.6 12980.5 12943.5 12983.8 12887.3 12980.5 12921.2 12947.0 13052.8 17

 18 Nonfinancial business 11320.6 11418.6 11965.9 12732.0 12089.3 12238.6 12451.0 12732.0 12878.4 13124.9 13360.8 18

 19 Corporate 7336.1 7472.2 7999.3 8688.9 8115.9 8249.1 8445.9 8688.9 8836.2 9044.8 9242.8 19

 20 Noncorporate 3984.5 3946.3 3966.6 4043.1 3973.4 3989.6 4005.1 4043.1 4042.2 4080.1 4117.9 20

 21 State and local governments 2968.4 3038.0 2985.3 2980.0 2986.3 2993.3 2985.3 2980.0 2994.9 2986.4 2952.9 21

 22 Federal government 7805.4 9385.6 10453.6 11593.7 10851.9 11050.1 11279.9 11593.7 11930.1 11912.9 11981.9 22

 Foreign credit market debt

 23 held in U.S. 2131.1 2314.0 2513.8 2784.1 2562.5 2561.0 2682.8 2784.1 2860.6 2791.2 2813.4 23

 24 Commercial paper 401.3 398.6 345.1 373.0 362.6 357.4 366.7 373.0 407.4 417.4 407.3 24

 25 Bonds 1570.3 1731.3 1939.9 2140.7 1960.5 1946.5 2052.0 2140.7 2174.6 2088.8 2110.2 25

 26 Depository institution loans n.e.c. 137.5 162.0 205.2 237.7 212.7 229.4 233.9 237.7 246.0 252.2 262.5 26

 27 Other loans and advances 21.9 22.1 23.5 32.8 26.7 27.8 30.2 32.8 32.7 32.8 33.4 27

 28 Domestic and foreign 37798.4 39353.9 40935.2 43070.3 41433.5 41826.9 42286.3 43070.3 43585.2 43762.3 44161.7 28

L.3 Credit Market Debt Owed by Financial Sectors

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

 1 By instrument 15688.7 14485.7 14045.4 13909.7 13989.4 13832.8 13951.2 13909.7 13887.5 13913.9 13920.4 1

 2 Open market paper 678.2 576.0 507.9 449.1 504.3 472.6 454.6 449.1 453.8 426.0 398.6 2

 3 GSE issues 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 6137.6 6147.7 3

 4 Agency- and GSE-backed mortgage pool sec. 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 1498.1 1540.8 4

 5 Corporate bonds 5717.7 5321.8 4996.2 4983.9 5045.1 4945.0 5019.3 4983.9 4920.9 4852.3 4847.9 5

 6 Depository institution loans n.e.c. 424.7 373.7 399.9 338.7 362.6 299.7 365.3 338.7 339.7 353.8 336.5 6

 7 Other loans and advances 617.9 473.2 413.1 416.6 390.2 413.3 404.4 416.6 409.7 452.9 459.8 7

 8 Mortgages 166.9 167.1 176.2 191.8 178.8 185.0 188.0 191.8 197.3 193.2 189.1 8

 9 By sector 15688.7 14485.7 14045.4 13909.7 13989.4 13832.8 13951.2 13909.7 13887.5 13913.9 13920.4 9

 10 U.S.-chartered depository institutions 718.1 942.6 868.7 840.3 840.8 844.7 822.2 840.3 820.7 848.4 841.2 10

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

 12 Credit unions 26.5 26.1 24.2 25.1 22.9 23.7 24.4 25.1 22.2 23.5 26.6 12

 13 Life insurance companies 48.3 45.1 46.8 51.6 48.5 52.4 52.4 51.6 52.9 54.5 53.8 13

 14 Government-sponsored enterprises 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 6137.6 6147.7 14

 15 Agency- and GSE-backed mortgage pools 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 1498.1 1540.8 15

 16 ABS issuers 3287.7 2230.9 1983.9 1769.4 1924.2 1863.3 1802.4 1769.4 1715.5 1664.2 1629.5 16

 17 Finance companies 1044.1 1280.7 1261.9 1205.1 1250.5 1233.6 1244.0 1205.1 1193.0 1196.0 1206.6 17

 18 REITs 317.4 315.2 343.4 386.3 350.1 364.4 371.2 386.3 390.5 393.8 403.4 18

 19 Brokers and dealers 92.9 129.7 91.8 90.2 98.0 102.1 85.8 90.2 89.1 103.1 96.1 19

 20 Holding companies 1253.7 1237.2 1220.8 1418.6 1303.9 1213.9 1428.7 1418.6 1412.4 1375.0 1363.4 20

 21 Funding corporations 816.8 704.2 651.8 593.5 642.0 617.4 600.5 593.5 625.0 619.7 611.2 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

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Total 53487.1 53839.7 54980.6 56980.1 55422.9 55659.7 56237.5 56980.1 57472.8 57676.2 58082.1 1

 2 Open market paper 1138.0 1057.6 969.3 952.4 994.4 962.0 957.3 952.4 1001.2 990.6 976.9 2

 3 Treasury securities 7781.9 9361.5 10428.3 11568.9 10827.5 11025.6 11255.5 11568.9 11905.5 11887.9 11956.8 3

 4 Agency- and GSE-backed securities 8106.8 7598.2 7577.4 7554.6 7533.0 7541.7 7543.9 7554.6 7590.8 7660.7 7713.6 4

 5 Municipal securities 3672.5 3772.1 3719.4 3714.4 3720.0 3732.4 3719.4 3714.4 3728.6 3721.1 3685.7 5

 6 Corporate and foreign bonds 11654.2 11857.9 12151.7 12919.7 12352.0 12344.4 12671.0 12919.7 13035.2 13023.4 13222.7 6

 7 Depository institution loans n.e.c. 2062.5 2001.2 2147.8 2322.7 2161.0 2214.7 2244.9 2322.7 2323.8 2387.4 2424.5 7

 8 Other loans and advances 2098.1 1764.7 1773.3 1830.8 1740.7 1761.0 1803.5 1830.8 1826.3 1899.6 1880.1 8

 9 Mortgages 14419.6 13778.4 13456.4 13192.2 13345.2 13278.9 13182.6 13192.2 13136.9 13137.1 13182.1 9

 10 Consumer credit 2553.5 2648.1 2757.0 2924.3 2749.1 2799.0 2859.4 2924.3 2924.4 2968.4 3039.5 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 20085.5 23565.4 23088.2 26427.2 25596.4 24593.3 26242.6 26427.2 29007.2 29447.4 31212.4 11

 12 Mutual fund shares 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10087.4 10299.5 10814.4 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) 53487.1 53839.7 54980.6 56980.1 55422.9 55659.7 56237.5 56980.1 57472.8 57676.2 58082.1 1

 2 U.S. official reserve assets 175.1 175.8 183.8 181.8 184.5 181.7 184.7 181.8 175.5 174.5 177.3 2

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

 4 Treasury currency 26.2 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.6 4

 5 Foreign deposits 835.9 826.6 780.3 750.1 765.0 737.1 772.3 750.1 774.3 861.9 904.8 5

 6 Net interbank liabilities 1220.0 1070.7 1889.2 1718.0 1913.9 1876.5 1794.7 1718.0 2131.8 2614.3 2804.4 6

 7 Checkable deposits and currency 2093.4 2359.8 2594.3 2857.8 2520.5 2594.3 2640.4 2857.8 2878.1 2897.8 2932.8 7

 8 Small time and savings deposits 6326.5 6624.9 7202.2 7803.9 7410.5 7456.9 7595.4 7803.9 7869.1 7890.1 8050.8 8

 9 Large time deposits 2105.9 1923.2 1750.0 1659.9 1642.4 1659.5 1636.8 1659.9 1652.5 1682.4 1735.9 9

 10 Money market fund shares 3258.6 2755.4 2642.5 2649.6 2535.5 2467.9 2506.9 2649.6 2554.0 2541.9 2637.4 10

 11 Security repurchase agreements 2043.4 2025.2 1970.8 1976.8 2026.4 2008.0 1977.4 1976.8 1964.7 1854.8 1862.7 11

 12 Mutual fund shares 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10087.4 10299.5 10814.4 12

 13 Security credit 1091.2 1214.8 1312.6 1512.5 1375.5 1410.2 1482.4 1512.5 1492.1 1511.5 1536.3 13

 14 Life insurance reserves 1242.1 1278.3 1352.0 1359.0 1366.9 1342.3 1353.2 1359.0 1370.0 1375.0 1393.8 14

 15 Pension entitlements 15205.4 16745.0 17115.2 18075.1 17641.6 17588.7 17928.7 18075.1 18561.0 18737.2 19098.4 15

 16 Trade payables 3214.9 3441.4 3500.2 3674.0 3555.0 3612.6 3651.8 3674.0 3722.8 3771.2 3793.1 16

 17 Taxes payable 40.6 53.1 73.9 82.5 84.4 83.0 93.4 82.5 100.8 72.0 77.0 17

 18 Miscellaneous 22079.9 22655.5 23620.0 23988.5 23808.6 23632.2 23926.2 23988.5 23975.9 23943.5 23580.5 18

 19 Total liabilities 121372.0 124893.3 128869.6 134624.2 131082.2 130995.3 132944.1 134624.2 136813.7 137934.9 139512.4 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 20085.5 23565.4 23088.2 26427.2 25596.4 24593.3 26242.6 26427.2 29007.2 29447.4 31212.4 21

 22 Household equity in noncorp. bus. 6323.9 7015.8 7495.6 8181.0 7594.2 7729.9 8008.3 8181.0 8394.8 8628.4 8820.2 22

 - Liabilities not identified as assets:

 23 Treasury currency -16.5 -17.6 -18.3 -18.8 -18.5 -18.6 -18.7 -18.8 -19.0 -19.2 -19.8 23

 24 Foreign deposits 657.0 630.4 655.6 648.3 657.1 649.3 676.3 648.3 650.1 716.9 767.4 24

 25 Net interbank transactions 7.6 26.9 28.4 54.3 31.8 19.5 67.4 54.3 84.8 60.3 69.3 25

 26 Security repurchase agreements 522.9 413.9 297.3 102.7 294.3 244.8 133.0 102.7 20.8 -11.1 -53.6 26

 27 Taxes payable -210.4 -209.0 -198.9 -196.9 -189.8 -192.9 -184.0 -196.9 -180.5 -211.3 -208.5 27

 28 Miscellaneous -7928.5 -8609.4 -9345.2 -10326.4 -9449.3 -9966.5 -9916.4 -10326.4 -10290.4 -10670.2 -10928.4 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. 2.0 2.5 2.5 2.3 2.9 3.4 3.2 2.3 1.5 1.1 1.3 30

 31 Private domestic 4.2 3.2 4.1 4.7 3.7 3.8 3.7 4.7 3.1 3.8 4.3 31

 32 Trade credit 241.0 305.0 250.9 314.7 198.4 180.9 198.5 314.7 252.4 207.3 209.3 32

 33 Totals identified to sectors as assets 153381.4 161590.6 166172.9 177187.0 171356.6 170891.8 174801.8 177187.0 182422.3 184623.6 188503.7 33
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F.6 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Gross Domestic Product (GDP) 14417.9 14958.3 15533.8 16244.6 16041.6 16160.4 16356.0 16420.3 16535.3 16661.0 16890.8 1

 2 Personal consumption expenditures (2) 9842.9 10201.9 10711.8 11149.6 11019.1 11100.2 11193.6 11285.5 11379.2 11427.1 11522.8 2

 3 Durable goods 1023.3 1070.7 1129.9 1202.7 1184.3 1189.3 1206.5 1230.7 1244.8 1257.5 1273.4 3

 4 Nondurable goods 2175.1 2292.1 2472.8 2567.0 2545.0 2549.2 2578.4 2595.4 2607.0 2591.0 2635.1 4

 5 Services 6644.5 6839.1 7109.1 7379.9 7289.7 7361.8 7408.7 7459.4 7527.4 7578.6 7614.3 5

 6 Gross private domestic investment 1878.1 2100.8 2232.1 2475.2 2453.6 2454.0 2493.3 2499.9 2555.1 2621.0 2732.6 6

 7 Fixed investment (3) 2025.7 2039.3 2195.7 2409.1 2350.7 2387.1 2411.7 2486.9 2491.7 2543.8 2586.5 7

 8 Nonresidential 1633.4 1658.2 1809.9 1970.0 1932.3 1961.4 1968.0 2018.2 2001.4 2030.6 2053.2 8

 9 Household sector (nonprofit organizations) 147.1 134.1 139.6 143.8 144.1 144.1 142.8 144.1 145.7 146.5 149.4 9

 10 Nonfinancial corporate business 1136.6 1176.5 1296.0 1420.2 1392.5 1413.6 1419.5 1455.3 1442.6 1464.2 1480.8 10

 11 Nonfinancial noncorporate business 182.9 184.9 199.1 212.5 205.4 212.1 213.0 219.6 210.0 216.6 218.7 11

 12 Financial institutions 166.9 162.8 175.2 193.4 190.3 191.5 192.7 199.1 203.1 203.2 204.4 12

 13 Residential 392.2 381.1 385.8 439.1 418.4 425.7 443.7 468.8 490.3 513.2 533.3 13

 14 Household sector 321.0 318.3 317.1 354.3 338.7 343.5 357.4 377.7 392.1 411.1 430.8 14

 15 Nonfinancial corporate business 5.5 -0.1 3.0 13.3 10.6 11.2 14.6 16.9 21.7 37.6 19.1 15

 16 Nonfinancial noncorporate business 65.8 58.3 59.5 66.2 64.2 64.6 66.6 69.4 71.6 74.9 78.1 16

 17 REITs -0.1 4.7 6.3 5.3 4.9 6.4 5.1 4.9 4.9 -10.4 5.3 17

 18 Change in private inventories -147.6 61.5 36.4 66.1 102.9 66.8 81.6 13.0 63.4 77.2 146.0 18

 19 Nonfinancial corporate business -139.0 63.7 39.1 71.0 97.8 68.7 94.3 23.3 33.0 45.0 107.9 19

 20 Nonfinancial noncorporate business -8.5 -2.2 -2.7 -4.9 5.1 -1.9 -12.7 -10.3 30.5 32.2 38.1 20

 21 Net U.S. exports of goods and services -392.2 -518.5 -568.7 -547.2 -590.8 -557.9 -524.4 -515.8 -523.1 -509.0 -501.9 21

 22 Exports 1583.8 1843.5 2101.1 2195.9 2173.4 2197.4 2199.2 2213.7 2214.2 2238.9 2265.9 22

 23 - Imports 1976.0 2362.0 2669.9 2743.1 2764.2 2755.3 2723.5 2729.5 2737.3 2747.9 2767.8 23

 Government consumption expenditures and

 24 gross investment 3089.1 3174.0 3158.7 3167.0 3159.7 3164.1 3193.5 3150.7 3124.1 3121.9 3137.4 24

 25 Consumption expenditures (4) 2442.1 2522.2 2526.1 2548.0 2542.3 2538.8 2572.9 2538.1 2525.3 2517.5 2523.7 25

 26 Federal 933.7 1003.9 1008.7 1011.7 1009.3 1007.4 1036.1 993.9 982.3 976.0 972.7 26

 27 State and local 1508.4 1518.3 1517.4 1536.4 1533.0 1531.3 1536.8 1544.3 1543.0 1541.4 1550.9 27

 28 Gross investment (4) 647.0 651.8 632.6 619.0 617.3 625.3 620.6 612.5 598.8 604.4 613.8 28

 29 Federal 284.0 300.0 295.4 284.0 282.4 286.4 286.0 281.4 272.7 276.6 278.5 29

 30 State and local 363.0 351.9 337.2 334.9 334.9 339.0 334.6 331.2 326.1 327.8 335.3 30

 Memo:

 31 Net U.S. income receipts from rest of the world 147.2 206.0 260.8 252.8 248.0 258.7 247.6 257.0 237.4 246.8 264.1 31

 32 U.S. income receipts 643.7 720.0 802.8 818.6 818.0 814.4 812.0 829.8 813.3 817.0 822.7 32

 33 - U.S. income payments 496.5 514.1 542.1 565.7 570.0 555.7 564.4 572.8 575.9 570.1 558.6 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 14565.1 15164.2 15794.6 16497.4 16289.6 16419.2 16603.7 16677.3 16772.7 16907.9 17154.9 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -9.7 -8.5 -8.3 -8.4 -8.5 -8.5 -8.5 -8.3 -8.1 -7.9 -7.7 35

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

 37 State and local governments 12.3 10.6 10.1 10.2 10.3 10.3 10.2 10.1 9.8 9.6 9.4 37

 38 Federal governments -8.9 -1.0 -0.9 -1.4 -1.4 -1.3 -1.4 -1.4 -0.6 -0.8 -1.1 38

 39 Rest of the world 0.0 -0.0 -0.1 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 39

(1) This table is based on NIPA table 1.1.5 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).

(2) Component of personal outlays, found on table F.100, line 4.

(3) Structures, equipment, and intellectual property products.

(4) Government inventory investment is included in consumption expenditures.
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F.7 Distribution of National Income (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 National Income 12124.5 12739.5 13395.7 13971.6 13845.0 13875.3 13962.1 14204.0 14324.5 14462.7 14596.7 1

 2 Compensation of employees 7787.8 7967.3 8278.5 8611.6 8514.3 8553.8 8591.0 8787.4 8748.3 8835.5 8889.1 2

 3 Wages and other labor income 7329.7 7497.9 7784.1 8097.3 8004.4 8042.6 8078.8 8263.4 8222.5 8305.2 8356.5 3

 4 Employer social insurance contributions 458.1 469.4 494.4 514.3 509.9 511.2 512.2 524.0 525.8 530.2 532.5 4

 Proprietors’ income with inventory

 5 valuation and capital consumption adjustments 973.0 1032.7 1155.1 1224.9 1214.4 1217.8 1220.0 1247.5 1334.6 1341.5 1357.0 5

 Rental income of persons (with capital

 6 consumption adjustment) 333.7 402.8 484.4 541.2 524.8 537.8 546.7 555.4 574.9 587.7 600.1 6

 Corporate profits with inventory

 7 valuation and capital consumption adjustments 1392.6 1740.6 1877.7 2009.5 1979.9 1998.4 2012.3 2047.2 2020.6 2087.4 2125.7 7

 Corporate profits with inventory

 8 valuation adjustment 1474.8 1793.8 1791.3 2180.0 2142.5 2169.8 2186.6 2221.1 2180.0 2248.6 2286.8 8

 9 Profits before tax 1468.2 1834.8 1847.4 2190.0 2162.1 2160.0 2208.5 2229.5 2193.1 2239.7 2285.1 9

 10 Domestic nonfinancial 752.5 1034.3 1026.7 1293.7 1283.7 1282.9 1288.8 1319.4 1307.7 1324.7 1344.9 10

 11 Domestic financial 362.9 405.3 384.1 477.4 462.5 447.7 507.2 492.1 486.9 511.9 520.4 11

 12 Rest of the world 352.8 395.2 436.6 418.9 415.9 429.3 412.5 418.1 398.5 403.1 419.8 12

 Less:

 13 Taxes on corporate income 269.4 370.6 374.2 434.8 437.2 429.7 439.1 433.2 408.2 418.2 413.4 13

 14 Domestic nonfinancial 177.8 220.6 222.3 256.9 252.5 257.8 249.1 268.4 266.6 264.1 263.8 14

 15 Domestic financial 91.6 150.0 151.9 177.8 184.6 171.9 190.0 164.8 141.7 154.1 149.7 15

 Equals:

 16 Profits after tax 1198.7 1464.3 1473.1 1755.2 1724.9 1730.3 1769.4 1796.4 1784.8 1821.4 1871.7 16

 17 Net dividends 568.7 563.9 701.6 770.3 727.4 739.6 746.7 867.6 763.8 1037.3 857.6 17

 18 Domestic nonfinancial 351.7 375.5 440.3 478.8 456.0 457.5 461.2 540.4 483.3 463.3 570.4 18

 19 Domestic financial 105.1 67.1 104.8 134.8 113.1 115.0 116.1 194.9 133.3 411.4 189.6 19

 20 Rest of the world 111.9 121.4 156.4 156.8 158.3 167.1 169.4 132.3 147.2 162.6 97.6 20

 21 Undistributed profits 630.0 900.3 771.6 984.9 997.5 990.7 1022.7 928.7 1021.0 784.2 1014.1 21

 22 Domestic nonfinancial 222.9 438.3 364.1 558.0 575.2 567.6 578.5 510.6 557.8 597.3 510.8 22

 23 Domestic financial 166.1 188.3 127.3 164.7 164.7 160.8 201.1 132.3 212.0 -53.7 181.1 23

 24 Rest of the world 240.9 273.8 280.1 262.2 257.5 262.2 243.1 285.8 251.3 240.5 322.2 24

 25 Inventory valuation adjustment 6.7 -41.0 -56.0 -10.0 -19.5 9.8 -22.0 -8.4 -13.0 8.9 1.7 25

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

 27 Domestic nonfinancial -41.1 -15.2 114.9 -115.1 -108.5 -116.1 -118.4 -117.6 -104.3 -105.4 -105.5 27

 28 Domestic financial -41.2 -38.1 -28.5 -55.4 -54.1 -55.3 -55.9 -56.3 -55.2 -55.7 -55.6 28

 29 Net interest and miscellaneous payments 563.1 489.4 456.9 439.6 453.9 419.0 455.3 430.3 477.0 444.0 462.7 29

 30 Taxes on production and imports 1026.1 1057.1 1097.1 1122.9 1124.4 1122.2 1118.8 1126.3 1140.7 1138.8 1142.7 30

 31 Less: Subsidies 58.3 55.9 60.0 57.3 57.8 57.6 56.0 57.7 58.0 58.9 59.1 31

 32 Business current transfer payments (net) 127.2 128.5 129.6 106.9 115.7 110.0 102.6 99.5 121.9 125.8 120.1 32

 33 Current surplus of government enterprises -20.6 -22.9 -23.8 -27.7 -24.5 -26.1 -28.5 -31.8 -35.5 -39.0 -41.5 33

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 34 National Income, from line 1 above 12124.5 12739.5 13395.7 13971.6 13845.0 13875.3 13962.1 14204.0 14324.5 14462.7 14596.7 34

 Plus:

 35 Private consumption of fixed capital 1925.7 1923.5 1974.4 2049.3 2018.7 2041.0 2059.8 2077.6 2103.3 2128.5 2149.8 35

 36 Government consumption of fixed capital 442.7 458.1 478.1 493.6 488.9 492.7 495.3 497.4 500.5 503.4 506.0 36

 37 Statistical discrepancy 72.2 43.1 -53.6 -17.0 -63.0 10.1 86.4 -101.7 -155.6 -186.8 -97.5 37

 Less:

 38 Net U.S. income receipts from rest of the world 147.2 206.0 260.8 252.8 248.0 258.7 247.6 257.0 237.4 246.8 264.1 38

 Equals:

 39 Gross Domestic Product 14417.9 14958.3 15533.8 16244.6 16041.6 16160.4 16356.0 16420.3 16535.3 16661.0 16890.8 39

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Gross saving 2071.7 2255.0 2461.4 2672.2 2645.0 2624.6 2606.4 2812.8 2871.5 2993.4 3052.4 1

 2 Net saving -296.6 -126.6 8.8 129.3 137.4 90.9 51.2 237.8 267.6 361.6 396.7 2

 3 Net private saving 1225.1 1440.2 1470.2 1491.7 1472.6 1493.0 1430.6 1570.5 1350.5 1212.3 1483.8 3

 4 Domestic business 554.4 806.0 801.9 804.3 815.3 829.1 826.5 746.4 848.5 631.9 854.7 4

 5 Nonfinancial corporate business 382.1 598.6 648.8 647.8 643.8 651.0 642.6 653.8 670.0 682.6 698.5 5

 6 Financial business 172.3 207.4 153.1 156.5 171.5 178.1 183.9 92.6 178.6 -50.7 156.2 6

 7 Households and institutions 670.7 634.2 668.2 687.4 657.3 663.9 604.1 824.1 502.0 580.4 629.1 7

 8 Net government saving -1521.7 -1566.8 -1461.3 -1362.3 -1335.1 -1402.1 -1379.4 -1332.7 -1082.9 -850.7 -1087.1 8

 9 Federal -1249.8 -1329.5 -1248.3 -1109.7 -1094.0 -1146.9 -1119.3 -1078.5 -853.1 -653.1 -854.2 9

 10 State and local -271.9 -237.3 -213.1 -252.7 -241.1 -255.2 -260.1 -254.2 -229.8 -197.6 -232.8 10

 11 Consumption of fixed capital 2368.4 2381.6 2452.6 2542.9 2507.6 2533.7 2555.1 2575.0 2603.8 2631.9 2655.7 11

 12 Private 1925.7 1923.5 1974.4 2049.3 2018.7 2041.0 2059.8 2077.6 2103.3 2128.5 2149.8 12

 13 Domestic business 1522.4 1523.0 1571.6 1639.4 1613.9 1633.7 1648.4 1661.4 1680.6 1698.9 1714.4 13

 14 Nonfinancial corporate business 1092.0 1094.6 1135.8 1188.2 1168.8 1184.1 1195.2 1204.7 1218.5 1231.6 1243.1 14

 15 Nonfinancial noncorporate business 253.0 251.8 256.8 264.5 261.5 263.6 265.6 267.6 270.5 273.4 275.8 15

 16 Financial business 177.4 176.7 179.0 186.6 183.7 186.0 187.6 189.2 191.5 193.9 195.5 16

 17 Households and institutions 403.3 400.5 402.9 409.9 404.8 407.2 411.4 416.2 422.7 429.6 435.4 17

 18 Government 442.7 458.1 478.1 493.6 488.9 492.7 495.3 497.4 500.5 503.4 506.0 18

 19 Federal 234.5 245.3 256.5 262.3 260.4 261.9 262.9 263.7 265.6 266.8 267.7 19

 20 State and local 208.2 212.7 221.7 231.4 228.5 230.8 232.4 233.7 234.9 236.6 238.2 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 2144.0 2298.1 2407.7 2655.2 2582.1 2634.7 2692.8 2711.1 2715.9 2806.7 2954.9 21

 22 Gross domestic investment 2525.1 2752.6 2864.7 3094.2 3071.0 3079.3 3113.9 3112.5 3153.9 3225.4 3346.3 22

 23 Gross private domestic investment 1878.1 2100.8 2232.1 2475.2 2453.6 2454.0 2493.3 2499.9 2555.1 2621.0 2732.6 23

 24 Domestic business 1410.0 1648.4 1775.4 1977.1 1970.8 1966.3 1993.1 1978.2 2017.4 2063.4 2152.4 24

 25 Nonfinancial corporate business 1002.9 1244.7 1344.4 1509.9 1500.3 1500.2 1536.0 1503.1 1495.1 1534.1 1612.2 25

 26 Nonfinancial noncorporate business 240.2 241.0 255.8 273.8 280.1 274.7 264.4 276.0 319.2 326.1 335.7 26

 27 Financial business 166.9 162.8 175.2 193.4 190.3 191.5 192.7 199.1 203.1 203.2 204.4 27

 28 Households and institutions 468.1 452.4 456.7 498.1 482.8 487.6 500.2 521.8 537.7 557.6 580.2 28

 29 Gross government investment 647.0 651.8 632.6 619.0 617.3 625.3 620.6 612.5 598.8 604.4 613.8 29

 30 Federal 284.0 300.0 295.4 284.0 282.4 286.4 286.0 281.4 272.7 276.6 278.5 30

 31 State and local 363.0 351.9 337.2 334.9 334.9 339.0 334.6 331.2 326.1 327.8 335.3 31

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

 33 Private -121.4 -58.5 -47.4 -26.0 -26.6 -8.1 -7.4 -62.0 -3.3 1.8 5.9 33

 34 Domestic business -83.4 -29.4 -41.3 -12.4 -25.2 -8.0 -9.4 -7.1 -10.7 -6.6 -5.0 34

 35 Nonfinancial corporate business 44.6 19.8 -7.3 -17.1 -6.4 -8.0 -9.3 -44.8 -10.7 -6.6 -5.0 35

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

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

 38 Households and institutions -38.1 -29.1 -6.2 -13.6 -1.3 -0.1 2.0 -54.9 7.4 8.4 10.9 38

 39 Government 122.0 59.2 49.1 19.5 27.0 9.5 9.6 31.7 3.8 -1.4 -5.5 39

 40 Federal 177.4 125.3 112.9 83.3 87.3 71.2 72.6 102.1 65.2 57.6 60.3 40

 41 State and local -55.4 -66.2 -63.8 -63.9 -60.3 -61.7 -63.0 -70.4 -61.4 -59.1 -65.8 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -381.7 -455.2 -458.6 -432.4 -489.3 -445.9 -423.4 -371.1 -438.5 -419.1 -391.8 42

 43 Private 1466.3 1364.6 1206.3 1074.7 1001.2 1098.2 1090.9 1108.4 746.4 531.2 797.6 43

 44 Domestic business 822.4 753.2 585.7 462.0 420.6 514.7 577.7 335.1 366.8 87.3 324.1 44

 45 Nonfinancial corporate business (3) 498.9 471.8 393.9 326.2 255.6 353.1 397.6 298.4 248.5 200.0 236.8 45

 46 Nonfinancial noncorporate business 18.8 18.6 2.5 -4.3 -18.7 -11.1 1.2 11.2 -48.6 -52.6 -59.9 46

 47 Financial business 304.7 262.8 189.3 140.2 183.7 172.7 178.9 25.4 167.0 -60.1 147.2 47

 48 Households and institutions 643.9 611.4 620.6 612.7 580.6 583.6 513.3 773.4 379.6 443.9 473.4 48

 49 Government -1848.0 -1819.8 -1664.9 -1507.1 -1490.5 -1544.2 -1514.3 -1479.5 -1184.9 -950.3 -1189.4 49

 50 Federal -1476.7 -1509.5 -1400.1 -1214.8 -1203.3 -1242.5 -1215.0 -1198.3 -925.4 -720.5 -925.3 50

 51 State and local -371.4 -310.3 -264.8 -292.4 -287.2 -301.7 -299.3 -281.2 -259.6 -229.8 -264.0 51

 52 Statistical discrepancy (line 21 less line 1) 72.2 43.1 -53.6 -17.0 -63.0 10.1 86.4 -101.7 -155.6 -186.8 -97.5 52

 Addenda:

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

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

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

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

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

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

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Capital transfers paid, by sector 272.2 186.7 137.9 139.8 118.1 104.0 108.3 228.6 106.1 99.5 106.5 1

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

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

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

 5 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Nonfinancial corporations 40.4 25.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 By government 206.9 141.4 123.4 98.7 100.9 85.7 88.7 119.6 83.4 76.2 81.1 8

 9 Federal 206.9 141.4 123.4 98.7 100.9 85.7 88.7 119.6 83.4 76.2 81.1 9

 10 Investment grants to state and local govts. 63.4 72.1 69.0 66.5 65.7 67.1 68.3 65.0 66.2 63.2 69.4 10

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

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

 13 Other capital transfers paid to business 8.1 12.7 8.0 8.2 6.0 7.4 9.0 10.2 9.6 5.7 4.5 13

 14 Other capital transfers paid to persons 12.9 14.5 12.4 10.6 10.0 9.8 9.2 13.4 7.2 6.9 6.8 14

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

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

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

 18 By persons 24.9 19.5 14.5 19.0 17.2 18.2 19.6 21.0 22.6 23.3 25.4 18

 19 Estate and gift taxes, federal 20.6 15.1 9.6 14.1 12.2 13.3 14.7 16.1 17.6 17.8 19.6 19

 20 Estate and gift taxes, state and local 4.3 4.4 4.9 4.9 4.9 4.9 4.9 4.9 5.0 5.4 5.8 20

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

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

 23 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Capital transfers received, by sector 272.2 186.7 137.9 139.8 118.1 104.0 108.3 228.6 106.1 99.5 106.5 24

 25 By private business 130.0 54.2 40.4 26.3 24.8 7.5 9.0 64.1 9.6 5.7 4.5 25

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

 27 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 27

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

 29 Nonfinancial corporations 2.1 4.9 6.4 16.7 6.0 7.4 9.0 44.4 9.6 5.7 4.5 29

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

 31 Other 2.1 4.9 6.4 8.1 6.0 7.4 9.0 10.2 9.6 5.7 4.5 31

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

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

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

 35 By government 88.3 91.8 83.5 88.2 82.8 85.3 87.9 96.6 88.8 86.5 94.8 35

 36 Federal 20.6 15.1 9.6 14.1 12.2 13.3 14.7 16.1 17.6 17.8 19.6 36

 37 Estate and gift taxes paid by persons 20.6 15.1 9.6 14.1 12.2 13.3 14.7 16.1 17.6 17.8 19.6 37

 38 State and local 67.7 76.7 73.9 74.1 70.6 72.0 73.2 80.5 71.3 68.6 75.2 38

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

 40 Estate and gift taxes paid by persons 4.3 4.4 4.9 4.9 4.9 4.9 4.9 4.9 5.0 5.4 5.8 40

 41 Investment grants paid by federal government 63.4 72.1 69.0 66.5 65.7 67.1 68.3 65.0 66.2 63.2 69.4 41

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

 43 By persons 53.3 40.1 12.4 24.1 10.0 9.8 9.2 67.5 7.2 6.9 6.8 43

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

 45 Other 53.3 40.1 12.4 10.6 10.0 9.8 9.2 13.4 7.2 6.9 6.8 45

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

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

 48 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 Addenda: Net capital transfers paid by sector

 49 By private business (lines 2-25) -89.6 -28.3 -40.4 -12.0 -24.8 -7.5 -9.0 -6.7 -9.6 -5.7 -4.5 49

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

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

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

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

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

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

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

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

 58 Nonfinancial corporations (lines 6-29) 38.3 20.9 -6.4 -16.7 -6.0 -7.4 -9.0 -44.4 -9.6 -5.7 -4.5 58

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

 60 By government (lines 8-35) 118.6 49.6 39.9 10.6 18.1 0.4 0.8 23.0 -5.4 -10.3 -13.7 60

 61 Federal (lines 9-36) 186.3 126.3 113.8 84.7 88.7 72.4 74.0 103.5 65.8 58.4 61.5 61

 62 State and local (lines 16-38) -67.7 -76.7 -73.9 -74.1 -70.6 -72.0 -73.2 -80.5 -71.3 -68.6 -75.2 62

 63 By persons (lines 18-43) -28.4 -20.6 2.1 -5.1 7.2 8.5 10.4 -46.5 15.5 16.3 18.6 63

 64 By the rest of the world (lines 21-46) -0.6 -0.7 -1.6 6.6 -0.4 -1.4 -2.3 30.3 -0.4 -0.4 -0.4 64

(1) This table is based on NIPA table 5.11 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Net acquisition of financial assets 608.0 875.8 1214.5 1157.4 748.5 1546.2 607.5 1727.4 1476.5 899.9 520.8 1

 2 Foreign deposits -6.6 -0.6 -2.8 -1.8 -3.7 -6.7 8.5 -5.3 5.8 21.0 10.3 2

 3 Checkable deposits and currency 120.6 33.1 326.4 98.3 82.6 -47.1 42.6 315.4 167.3 -121.3 -11.3 3

 4 Time and savings deposits 101.2 161.9 375.6 426.1 435.6 456.1 142.8 670.1 114.4 223.7 279.7 4

 5 Money market fund shares -270.3 -180.4 41.5 -2.2 15.9 -7.3 -17.2 -0.1 61.7 97.5 58.4 5

 6 Securities 384.6 84.3 -215.4 123.9 -242.0 806.0 -103.8 35.4 656.4 -37.1 -432.0 6

 7 Open market paper 16.7 -1.5 -1.8 -0.3 2.0 -2.6 -0.4 -0.4 3.9 -18.4 -12.4 7

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

 9 Treasury bills and other Treasury securities 533.4 329.4 -219.2 232.6 25.8 622.7 41.0 240.9 -82.4 -112.1 -584.8 9

 10 Agency- and GSE-backed securities -673.4 -6.0 11.2 -122.4 -340.9 18.6 -218.6 51.1 -325.2 -119.8 -81.3 10

 11 Municipal securities 107.2 44.3 -64.8 -152.2 -122.9 1.5 -238.5 -248.9 37.0 44.1 -110.8 11

 12 Corporate and foreign bonds 75.1 -319.4 132.1 98.5 168.5 -36.5 -4.3 266.2 -65.6 -2.5 340.0 12

 13 Corporate equities (2) -5.7 -186.8 -288.9 -330.9 -320.5 29.5 -391.0 -641.7 92.7 -321.4 -400.4 13

 14 Mutual fund shares 334.1 227.7 218.7 401.5 347.3 174.8 710.5 373.2 998.4 496.7 421.1 14

 15 Life insurance reserves 23.7 9.0 86.9 -26.3 -46.6 -82.2 0.2 23.5 -20.2 9.9 30.8 15

 16 Pension entitlements 427.4 614.7 473.0 497.1 464.6 381.6 526.3 615.6 464.0 479.4 506.4 16

 17 Miscellaneous and other assets -166.8 164.2 133.1 49.6 54.3 47.8 21.7 74.6 35.7 231.4 83.2 17

 18 Gross investment in nonfinancial assets 1669.5 1689.9 1765.4 1887.0 1855.4 1865.0 1885.8 1941.8 2004.6 2048.1 2096.8 18

 19 Residential fixed investment 386.9 376.5 376.5 420.5 402.9 408.1 424.0 447.0 463.7 486.0 508.9 19

 20 Nonresidential fixed investment 330.0 319.0 338.7 356.3 349.5 356.3 355.8 363.7 355.7 363.1 368.0 20

 21 Consumer durables 970.8 1005.0 1061.2 1123.5 1106.3 1111.0 1127.1 1149.7 1162.9 1174.7 1189.5 21

 22 Nonproduced nonfinancial assets -9.7 -8.5 -8.3 -8.4 -8.5 -8.5 -8.5 -8.3 -8.1 -7.9 -7.7 22

 23 Inventories -8.5 -2.2 -2.7 -4.9 5.1 -1.9 -12.7 -10.3 30.5 32.2 38.1 23

 24 Consumption of fixed capital 1576.8 1570.4 1599.0 1637.5 1617.0 1630.9 1644.8 1657.4 1644.1 1663.7 1679.7 24

 25 Residential fixed investment 377.9 372.0 369.4 371.7 366.1 370.2 373.6 376.8 381.5 386.0 389.9 25

 26 Nonresidential fixed investment 278.4 280.3 290.2 302.8 299.9 300.6 303.5 307.2 312.1 317.3 321.7 26

 27 Consumer durables 920.6 918.1 939.4 963.1 951.0 960.2 967.8 973.4 950.6 960.4 968.1 27

 28 Net investment in nonfinancial assets (3) 92.6 119.4 166.4 249.5 238.3 234.1 240.9 284.4 360.5 384.4 417.2 28

 29 Residential fixed investment 9.0 4.5 7.1 48.9 36.8 38.0 50.4 70.2 82.2 100.0 119.0 29

 30 Nonresidential fixed investment 51.6 38.7 48.4 53.6 49.6 55.7 52.4 56.6 43.6 45.8 46.3 30

 31 Consumer durables 50.3 86.9 121.9 160.4 155.3 150.8 159.3 176.2 212.3 214.3 221.4 31

 32 Nonproduced nonfinancial assets -9.7 -8.5 -8.3 -8.4 -8.5 -8.5 -8.5 -8.3 -8.1 -7.9 -7.7 32

 33 Inventories -8.5 -2.2 -2.7 -4.9 5.1 -1.9 -12.7 -10.3 30.5 32.2 38.1 33

 34 Net increase in liabilities -247.3 -334.2 -149.0 180.2 48.9 172.0 -33.7 533.6 -32.9 247.2 621.1 34

 35 Home mortgages -201.6 -377.9 -251.7 -247.6 -353.1 -217.6 -327.2 -92.3 -206.5 -99.4 92.7 35

 36 Other mortgages 33.3 -46.1 -21.2 -14.9 -81.7 -29.7 -4.2 55.7 -11.5 87.0 102.0 36

 37 Consumer credit -103.7 -25.3 108.9 169.4 148.5 205.7 136.3 186.9 180.5 173.8 179.3 37

 38 Policy loans 0.7 3.4 2.4 1.4 -0.2 -1.0 2.5 4.1 -0.1 1.1 1.6 38

 39 Security credit 38.1 75.2 -39.3 64.9 115.4 -93.1 98.7 138.4 16.4 -21.2 44.6 39

 40 Other liabilities -14.2 36.5 52.0 207.1 219.9 307.6 60.1 240.9 -11.8 105.8 200.9 40

 41 Net capital transfers paid (4) -34.4 -28.4 0.6 -10.0 7.2 8.5 10.4 -66.2 15.5 16.3 18.6 41

 42 Personal saving, FOF concept (FOF) 913.6 1301.1 1530.5 1216.6 945.0 1616.8 892.5 1412.0 1885.4 1053.5 335.5 42

 43 - Net investment in consumer durables 50.3 86.9 121.9 160.4 155.3 150.8 159.3 176.2 212.3 214.3 221.4 43

 44 - Government insurance and pension fund reserves (5) 0.5 -1.7 -0.4 -1.4 -2.4 -0.2 -1.6 -1.6 -1.9 -0.4 -2.6 44

 45 = Personal saving, NIPA concept (FOF) (6) 862.9 1216.0 1409.0 1057.6 792.1 1466.2 734.9 1237.3 1674.9 839.6 116.7 45

 46 Personal saving, NIPA concept (NIPA) 670.7 634.2 668.2 687.4 657.3 663.9 604.1 824.1 502.0 580.4 629.1 46

 47 Difference 192.2 581.8 740.8 370.3 134.7 802.3 130.8 413.2 1172.9 259.2 -512.4 47

 Memo:

 48 Disposable personal income 10937.2 11243.7 11787.4 12245.8 12085.7 12171.9 12205.1 12520.4 12296.9 12417.4 12568.7 48

 Personal saving as a percentage of disposable personal income:

 49 FOF concept (FOF data) (line 42) 8.4 11.6 13.0 9.9 7.8 13.3 7.3 11.3 15.3 8.5 2.7 49

 50 NIPA concept (FOF data) (line 45) 7.9 10.8 12.0 8.6 6.6 12.0 6.0 9.9 13.6 6.8 0.9 50

 51 NIPA concept (NIPA data) (line 46) 6.1 5.6 5.7 5.6 5.4 5.5 4.9 6.6 4.1 4.7 5.0 51

 52 Difference (line 47) 1.8 5.2 6.3 3.0 1.1 6.6 1.1 3.3 9.5 2.1 -4.1 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

2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 Total financial assets 46680.8 50647.3 51430.0 55169.7 53292.0 52860.2 54330.8 55169.7 57121.0 57654.4 58988.5 1

 2 Foreign deposits 50.2 49.7 46.9 45.1 46.0 44.3 46.4 45.1 46.5 51.8 54.4 2

 3 Checkable deposits and currency 934.9 956.7 1283.2 1371.1 1260.2 1244.3 1243.8 1371.1 1376.2 1344.9 1332.7 3

 4 Time and savings deposits 6684.1 6812.2 7187.8 7568.8 7295.1 7370.2 7404.7 7568.8 7620.1 7640.1 7722.8 4

 5 Money market fund shares 1386.9 1206.5 1187.5 1185.3 1132.1 1100.0 1120.8 1185.3 1138.9 1131.9 1174.4 5

 6 Securities 17038.6 19315.6 18853.5 21144.8 20156.9 19769.5 20831.3 21144.8 22581.6 22891.7 23710.7 6

 7 Open market paper 22.7 21.1 19.4 19.0 19.9 19.2 19.1 19.0 20.0 15.4 12.3 7

 8 U.S. savings bonds 191.2 187.9 185.2 182.4 184.7 184.3 183.6 182.4 181.7 180.9 179.9 8

 9 Treasury bills and other Treasury securities 722.8 1004.3 594.9 838.1 688.8 733.7 767.7 838.1 862.8 912.5 781.5 9

 10 Agency- and GSE-backed securities 350.5 343.5 316.5 184.5 246.0 247.3 201.6 184.5 141.1 147.7 132.7 10

 11 Municipal securities 1833.1 1877.4 1812.6 1660.4 1786.6 1782.1 1715.5 1660.4 1674.7 1678.3 1645.6 11

 12 Corporate and foreign bonds 2310.7 2292.5 2425.8 2639.7 2428.1 2419.6 2542.0 2639.7 2596.1 2575.5 2660.2 12

 13 Corporate equities (2) 7491.9 8994.9 9049.9 10327.0 9828.1 9523.3 10258.2 10327.0 11337.9 11463.6 12104.6 13

 14 Mutual fund shares 4115.8 4594.0 4449.2 5293.7 4974.7 4859.9 5143.5 5293.7 5767.3 5917.9 6193.9 14

 15 Life insurance reserves 1109.2 1137.2 1203.6 1186.1 1199.4 1172.6 1180.6 1186.1 1194.5 1198.2 1214.5 15

 16 Pension entitlements 15205.4 16745.0 17115.2 18075.1 17641.6 17588.7 17928.7 18075.1 18561.0 18737.2 19098.4 16

 17 Life insurance companies 2346.9 2563.0 2602.8 2759.4 2691.7 2651.2 2713.2 2759.4 2821.2 2820.7 2875.7 17

 18 Private pension funds 5976.3 6625.7 6672.5 7175.3 7022.3 6945.1 7145.3 7175.3 7507.6 7603.7 7818.6 18

 19 Governments 6882.2 7556.3 7839.9 8140.4 7927.7 7992.5 8070.2 8140.4 8232.1 8312.8 8404.1 19

 20 Miscellaneous and other assets 4182.6 4346.0 4477.8 4526.3 4489.2 4499.8 4506.8 4526.3 4537.2 4594.8 4618.1 20

 21 Total liabilities 19780.7 19445.7 19302.5 19417.9 19276.5 19313.7 19259.7 19417.9 19371.3 19432.6 19595.7 21

 22 Home mortgages 10915.4 10424.3 10172.6 9920.0 10084.3 10024.9 9933.8 9920.0 9868.7 9842.6 9854.2 22

 23 Other mortgages 2563.2 2517.0 2495.8 2480.8 2475.4 2468.0 2466.9 2480.8 2478.0 2499.7 2525.2 23

 24 Consumer credit 2553.5 2648.1 2757.0 2924.3 2749.1 2799.0 2859.4 2924.3 2924.4 2968.4 3039.5 24

 25 Policy loans 121.1 124.5 126.9 128.3 126.9 126.6 127.2 128.3 128.2 128.5 128.9 25

 26 Security credit 203.0 278.2 238.9 303.7 267.7 244.5 269.1 303.7 307.9 302.6 313.7 26

 27 Other liabilities 3424.6 3453.6 3511.4 3660.7 3573.2 3650.8 3603.2 3660.7 3664.1 3690.9 3734.1 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).