F E D E R A L RE S E R V E S T A T I S T I C A L RE L E A S E

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

June 5, 2014

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

First Quarter 2014

B O A R D O F G O V E R N O R S O F T H E F E D E R A L R E S E R V E S Y S T E M

i

Household Net Worth and Growth of Domestic Nonfinancial Debt

Year

Household 

net worth1

Growth of domestic nonfinancial debt2

Total Households Business

State and 

local govts. Federal

2004 56,581 9.3 11.1 6.8 11.4 9.0

2005 62,604 9.2 11.2 9.0 5.8 7.0

2006 67,392 8.8 10.2 10.9 3.9 3.9

2007 67,832 8.7 7.0 13.7 5.5 4.9

2008 57,198 6.4 1.1 6.3 0.6 24.2

2009 58,981 3.7 -0.1 -2.1 4.0 22.7

2010 63,364 4.7 -1.1 1.5 2.3 20.2

2011 64,692 4.2 -0.2 4.8 -1.7 11.4

2012 70,815 5.4 1.5 6.3 -0.2 10.9

2013 80,274 4.5 1.5 7.1 -1.3 6.5

2012: Q1 67,122 5.5 1.0 4.7 0.4 13.5

Q2 67,183 5.8 2.7 5.3 2.9 11.0

Q3 69,424 3.8 0.8 5.2 -0.2 7.1

Q4 70,815 6.1 1.5 9.4 -3.8 10.4

2013: Q1 73,784 4.8 0.6 4.9 2.4 10.1

Q2 75,258 3.7 1.6 7.6 1.1 2.5

Q3 77,619 3.9 3.5 8.5 -3.9 1.5

Q4 80,274 5.2 0.2 6.6 -4.9 11.6

2014: Q1 81,764 5.0 2.0 7.3 -0.7 7.1

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

 seasonally adjusted

2. Percentage changes calculated as seasonally adjusted flow divided by previous quarter’s seasonally adjusted level, shown 

 at an annual rate.

The net worth of households and nonprofits was 

$81.8 trillion at end of the first quarter this year, about 

$1.5 trillion more than at end of 2013. In the first 

quarter, the value of directly and indirectly held 

corporate equities increased $361 billion and the value 

of real estate expanded $751 billion.

Domestic nonfinancial debt outstanding was $42.6

trillion at the end of the first quarter of 2014, of which 

household debt was $13.2 trillion, nonfinancial business 

debt was $13.9 trillion, and total government debt was 

$15.5 trillion.

Domestic nonfinancial debt growth2 was 5 percent at a 

seasonally adjusted annual rate in the first quarter of 

2014, about 1⁄4 percentage point less than in the fourth 

quarter of 2013.

Household debt edged up at an annual rate of 2 percent 

in the first quarter (excluding charge-offs of home 

mortgages). Net originations of home mortgages 

continued to be weak, while consumer credit continued 

to grow at the pace of the previous two years.

Nonfinancial business debt rose at an annual rate of 7.3 

percent in the first quarter, after a 6.6 percent increase in 

the fourth quarter. As in recent years, corporate bonds 

accounted for most of the increase.

State and local government debt declined at an annual 

rate of 0.7 percent in the first quarter, after declining at a 

4.9 percent rate in the fourth quarter. 

Federal government debt rose at an annual rate of 7.1

percent in the first quarter, a bit slower than the pace of 

growth in the fourth quarter.

Recent Developments in Household Net Worth and 

Domestic Nonfinancial Debt

iii

Topic Description

Federal funds and security 

repurchase agreements 

Additional detail on federal funds and security repurchase 

agreements is now available on the instrument tables F.207 and 

L.207 and the sector tables for U.S.-chartered depository 

institutions (F.110 and L.110), foreign banking offices in U.S. 

(F.111 and L.111), credit unions (F.113 and L.113), and security 

brokers and dealers (F.128 and L.128). On these tables, federal 

funds and security repurchase agreements, previously reported 

as net liabilities, are now reported separately as assets and 

liabilities. In addition to changes in presentation, the data have 

been revised to reflect methodological improvements as well. In 

particular, while transactions between depository institutions 

were previously netted out, this instrument category now 

includes all federal funds and security repurchase agreement 

transactions, regardless of counterparty. 

Security credit Data for the security credit instrument category (tables F.224 

and L.224) have been revised to reflect methodological 

improvements. In particular, depository institutions’ security 

credit assets no longer include security repurchase agreement 

transactions with security brokers and dealers, as these are now 

included in the instrument category federal funds and security 

repurchase agreements. The methodology for the security 

credit of security brokers and dealers and households has also 

been improved. In addition, security credit of the rest of the 

world sector, which was discontinued in 1976:Q1, is no longer 

shown.

Home mortgage loan charge-offs A memo item for total home mortgage loan charge-offs is now 

shown on the home mortgage instrument table (table F.218). 

Charge-offs are now excluded from home mortgage loan flows 

and are instead accounted for as other changes in volume. Data 

begin 2007:Q1. 

U.S.-chartered depository 

institutions 

As of this publication, separate series for U.S.-chartered 

commercial banks and savings institutions are no longer 

available in the online Federal Reserve Data Download Program 

(DDP). 

Nonfinancial corporate business 

benchmark

Assets of the nonfinancial corporate business sector (tables 

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

2012:Q1 forward, to reflect new advance data from the Internal 

Revenue Service (IRS) Statistics of Income (SOI) for 2012.

Nonfinancial noncorporate business 

benchmark

Data for the noncorporate business sector (tables F.103, L.103, 

B.103, and R.103) have been revised from 2011:Q1 forward to 

reflect new 2011 benchmark statistics from the Internal Revenue 

Service (IRS) Statistics of Income (SOI).

Release Highlights

First Quarter 2014
iv
v

Financial Accounts of the United States

The Financial Accounts of the United States (previously 

referred to as the Flow of Funds Accounts) are

organized into the following sections:

■ Matrices summarizing flows and levels across 

sectors, and tables summarizing credit market 

borrowing, gross domestic product (GDP), 

national income, saving, and so on

■ Flow of funds, by sector and financial 

instrument 

■ Levels of financial assets and liabilities, by 

sector and financial instrument

■ Balance sheets, including nonfinancial assets,

and changes in net worth for households and 

nonprofit organizations, nonfinancial corporate 

businesses, and nonfinancial noncorporate 

businesses

■ Supplementary tables providing additional 

detail on selected sectors

■ Integrated Macroeconomic Accounts

The Integrated Macroeconomic Accounts (IMA) relate 

production, income, saving, and capital formation from 

the national income and product accounts (NIPA) to 

changes in net worth from the FA on a sector-by-sector 

basis. The IMA are published jointly by the Federal 

Reserve Board and the Bureau of Economic Analysis

and are based on international guidelines and 

terminology as defined in the System of National 

Accounts (SNA1993, revised in 2008). 

Federal Reserve Board staff have taken many steps over 

the past several years to conform the Financial Accounts

with the SNA guidelines. Nonetheless, a few important 

differences remain. In particular, in the Financial 

Accounts:

■ The purchase of consumer durables is treated as 

investment rather than as consumption.

■ Nonfinancial noncorporate business (which are 

often small businesses) are shown in a separate 

sector rather than being included in the 

household sector.

■ Most debt securities are recorded at book value 

rather than market value.

Concepts of Level and Flow in the SNA 

and the Financial Accounts

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

stock or outstanding) measures the value of the asset or

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

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

calendar quarter. In the SNA2008, the change in the

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

flow”, and can be decomposed into three broad 

elements: transactions, which measure the exchange of 

assets; revaluations, which measure changes in market 

value of untraded assets; and other changes in volume, 

which measure discontinuities or breaks in time series 

due to disaster losses or a change in source data or 

definition.

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

exchange of assets, corresponding to the SNA definition 

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

Accounts are equivalent to “transaction tables” in the 

SNA terminology. In practice, other volume changes 

are relatively rare, and revaluations only occur for series 

carried at market value (such as corporate equities and 

mutual fund shares), so for many series the change in the 

level is equal to the flow. 

Growth Rates

Growth rates calculated from levels will include 

revaluations and other changes in volume. To isolate 

the effect of transactions on growth of a given asset or 

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

given period to the level in the preceding period. 

Growth rates in table D.1 are calculated by dividing 

seasonally adjusted flows from table D.2 by seasonally 

adjusted levels at the end of the previous period from 

table D.3. Growth rates calculated from changes in 

unadjusted levels printed in table L.2 may differ from 

those in table D.1.

Seasonal Adjustment

Seasonal factors are recalculated and updated every 

year, and these revised factors are first published in the 

September release of second-quarter data. All series that 

exhibit significant seasonal patterns are adjusted. The 

seasonal factors are generated using the X-12-ARIMA 

seasonal adjustment program from the U.S. Census 

Bureau, estimated using the most recent 10 years of 

data. Because the effects of the recent financial crisis

resulted in large outliers in some series that would have 

distorted the estimated seasonal factors, seasonal factors 

for some series were extrapolated using pre-crisis data. 

Seasonally adjusted levels shown in table D.3 are 

derived by carrying forward year-end levels by 

seasonally adjusted flows.

Explanatory Notes
vi

Data Revisions

Data shown for the most recent quarters are based on 

preliminary and potentially incomplete information. A 

summary list of the most recent data available for each 

sector is provided in a table following these notes. 

Nonetheless, when source data are revised or estimation 

methods are improved, all data are subject to revision. 

There is no specific revision schedule; rather, data are 

revised on an ongoing basis. In each release of the 

Financial Accounts, major revisions are highlighted at 

the beginning of the publication.

Discrepancies

The data in the Financial Accounts come from a large 

variety of sources and are subject to limitations and 

uncertainty due to measurement errors, missing 

information, and incompatibilities among data sources. 

The size of this uncertainty cannot be quantified, but its 

existence is acknowledged by the inclusion of 

“statistical discrepancies” for various sectors and 

financial instruments.

The discrepancy for a given sector is defined as the 

difference between the aggregate value of the sector’s 

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

financial instrument category, the discrepancy is defined 

as the difference between the measurement of funds 

raised through the financial instrument and funds 

disbursed through that instrument. The relative size of 

the statistical discrepancy is one indication of the quality 

of the underlying source data. Note that differences in 

seasonal adjustment procedures sometimes result in 

quarterly discrepancies that partially or completely 

offset each other in the annual data.

The Financial Accounts Guide

Substantially more detail on the construction of the 

Financial Accounts is available in the Financial 

Accounts Guide, which provides interactive, online 

documentation for each data series. The tools and 

descriptions in the guide are designed to help users 

understand the structure and content of the Financial 

Accounts. The guide allows users to search for series, 

browse tables of data, and identify links among series 

within these accounts. It also provides descriptions of 

each of the published tables and information on the 

source data underlying each series. 

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

continually updated and kept consistent with the most 

recently published data. The guide and the data from the 

Financial Accounts are available free of charge at the 

following link: 

www.federalreserve.gov/apps/fof/

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

according to a unique string of patterned numbers and 

letters. The series structure page of the guide provides a 

breakdown of what the letters and numbers represent in 

the series mnemonics. The relationships between 

different components of a series (for example, levels, 

seasonally adjusted annual rate flows, unadjusted flows, 

revaluations, other changes in volume, seasonal factors, 

and so on) are also described on the series structure 

page.

Production Schedule

The Financial Accounts are published online and in print 

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

each calendar quarter. The publication and the guide are

available online here:

www.federalreserve.gov/releases/Z1

This website also provides coded tables and historical 

annual tables beginning in 1945 that correspond with the 

tables published in this release. There are also 

compressed ASCII files of quarterly data for seasonally 

adjusted flows, unadjusted flows, outstandings, balance 

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

tables, and the IMA. 

In addition, the data are available as customizable 

datasets through the Federal Reserve Board’s Data 

Download Program (DDP) here:

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

Print Subscription Information

The Federal Reserve Board charges a fee for 

subscriptions to print versions of statistical releases.

Inquiries regarding print versions should be directed to

the following office:

Publications Services, Stop 127

Board of Governors

of the Federal Reserve System

20th Street and Constitution Avenue, N.W.

Washington, DC 20551

(202) 452-3245
vii

Sector Table Available at time of publication

National income and product 

accounts (NIPA)

(various tables)

Second estimate, seasonally adjusted, for 2014:Q1. Unadjusted 

flows since 2012 for the government sectors and since 2006 for 

all other sectors are unavailable.

Households and nonprofit

organizations sector

(tables F.100 and L.100)

Estimates for this sector are largely residuals and are derived 

from data for other sectors. Availability of data depends on 

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

estimated directly, are available through 2014:Q1. The source 

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

the Internal Revenue Service Statistics of Income. Data for 

nonprofit organizations are available for 1987 through 2000.

Nonfinancial corporate business 

(tables F.102 and L.102)

Quarterly Financial Report (QFR) of the Census Bureau through 

2013:Q4; Internal Revenue Service Statistics of Income

(IRS/SOI) data through 2012; securities offerings, mortgages, 

bank loans, commercial paper, and other loans through 

2014:Q1. Corporate farm data through 2012.

Nonfinancial noncorporate business

(tables F.103 and L.103)

IRS/SOI data through 2011; bank and finance company loans, 

and mortgage borrowing through 2014:Q1. Noncorporate farm 

data through 2012.

State and local governments

(tables F.104 and L.104)

Gross offerings and retirements of municipal securities, deposits 

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

through 2014:Q1; total financial assets through 2011:Q2 from 

the Census Bureau; breakdown of financial assets through 

2011:Q2 from the comprehensive annual financial reports of 

state and local governments.

Federal government

(tables F.105 and L.105)

Data from the Monthly Treasury Statement of Receipts and 

Outlays and Treasury data for loan programs and the Troubled 

Assets Relief Program (TARP) through 2014:Q1.

Rest of the world

(tables F.106 and L.106)

Balance of payments and International Investment Position data 

through 2013:Q4. NIPA estimates; bank Call Reports and 

Treasury International Capital System data through 2014:Q1.

Monetary authority

(tables F.108 and L.108)

All data through 2014:Q1.

U.S.-chartered depository 

institutions

(tables F.110 and L.110)

All data through 2014:Q1.

Foreign banking offices in U.S.

(tables F.111 and L.111)

All data through 2014:Q1.

Banks in U.S.-affiliated areas

(tables F.112 and L.112)

All data through 2014:Q1.

Credit unions

(tables F.113 and L.113)

All data through 2014:Q1.

Description of Most Recent Data Available
viii

Sector Table Available at time of publication

Property-casualty insurance 

companies

(tables F.114 and L.114)

All data through 2013:Q4.

Life insurance companies

(tables F.115 and L.115)

All data through 2013:Q4.

Private pension funds

(tables F.117 and L.117)

Internal Revenue Service/Department of Labor/Pension Benefit 

Guaranty Corporation Form 5500 data through 2011.

State and local government 

employee retirement funds

(tables F.118 and L.118)

Detailed data through 2012:Q2 from the Census Bureau; sample 

data through 2013:Q4 from the Census Bureau.

Federal government retirement

funds

(tables F.119 and L.119)

Data from the Monthly Treasury Statement of Receipts and 

Outlays, the Thrift Savings Plan, and the National Railroad 

Retirement Investment Trust through 2014:Q1.

Money market mutual funds

(tables F.120 and L.120)

All data through 2014:Q1.

Mutual funds

(tables F.121 and L.121)

All data through 2014:Q1.

Closed-end funds

(tables F.122 and L.122)

All data through 2014:Q1.

Exchange-traded funds

(tables F.122 and L.122)

All data through 2014:Q1.

Government Sponsored Enterprises 

(GSEs)

(tables F.123 and L.123)

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

FCS, and REFCORP through 2014:Q1.

Agency- and GSE-backed 

mortgage pools

(tables F.124 and L.124)

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

Mae through 2014:Q1.

Issuers of asset-backed securities 

(ABSs)

(tables F.125 and L.125)

All data for private mortgage pools, consumer credit, business 

loans, student loans, consumer leases, and trade credit 

securitization through 2014:Q1.

Finance companies

(tables F.126 and L.126)

All data through 2014:Q1.

Real Estate Investment Trusts 

(REITs)

(tables F.127 and L.127)

Data from SNL Financial through 2014:Q1. 

Security brokers and dealers

(tables F.128 and L.128)

Data for firms filing FOCUS and FOGS reports through 

2013:Q4.

Holding companies

(table F.129 and L.129)

All data through 2014:Q1.

Funding corporations

(tables F.130 and L.130)

Estimates for this sector are largely residuals and are derived 

from data for other sectors.
ix

Title Table Page

Summaries

Flow of Funds Matrix – Flows 1

Flow of Funds Matrix – Assets and Liabilities 2

Credit Market Debt Growth by Sector D.1 3

Credit Market Borrowing by Sector D.2 4

Credit Market Debt Outstanding by Sector D.3 5

Total Credit Market Borrowing and Lending F.1 6

Credit Market Borrowing by Nonfinancial Sectors F.2 7

Credit Market Borrowing by Financial Sectors F.3 7

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

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

Credit Market Debt Outstanding L.1 9

Credit Market Debt Owed by Nonfinancial Sectors L.2 10

Credit Market Debt Owed by Financial Sectors L.3 10

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

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

Distribution of Gross Domestic Product F.6 12

Distribution of National Income F.7 13

Saving and Investment F.8 14

Net Capital Transfers F.9 15

Derivation of Measures of Personal Saving F.10 16

Assets and Liabilities of the Personal Sector L.10 17

Title

Flows Levels

Table Page Table Page

Sectors

Households and Nonprofit Organizations F.100 18 L.100 66

Nonfinancial Business F.101 19 L.101 67

Nonfinancial Corporate Business F.102 20 L.102 68

Nonfinancial Noncorporate Business F.103 21 L.103 69

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

Federal Government F.105 23 L.105 71

List of Data Tables
x

Sectors

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

Financial Business F.107 25 L.107 73

Monetary Authority F.108 26 L.108 74

Private Depository Institutions F.109 27 L.109 75

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

Unions F.110 28 L.110 76

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

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

Credit Unions F.113 30 L.113 78

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

Life Insurance Companies F.115 31 L.115 79

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

Private Pension Funds F.117 33 L.117 81

State and Local Government Employee Retirement 

Funds F.118 34 L.118 82

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

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

Mutual Funds F.121 35 L.121 83

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

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

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

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

Finance Companies F.126 37 L.126 85

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

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

Holding Companies F.129 40 L.129 88

Funding Corporations F.130 41 L.130 89

Instruments

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

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 42 L.201 90

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

Net Interbank Transactions F.203 43 L.203 91

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

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

Instruments

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

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

Open Market Paper F.208 47 L.208 95

Treasury Securities F.209 48 L.209 96

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

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

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

Corporate Equities F.213 52 L.213 100

Mutual Fund Shares F.214 52 L.214 100

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

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

Total Mortgages F.217 55 L.217 103

Home Mortgages F.218 56 L.218 104

Multifamily Residential Mortgages F.219 56 L.219 104

Commercial Mortgages F.220 57 L.220 105

Farm Mortgages F.221 57 L.221 105

Consumer Credit F.222 58 L.222 106

Trade Credit F.223 59 L.223 107

Security Credit F.224 59 L.224 107

Life Insurance Reserves F.225 60 L.225 108

Pension Entitlements F.226 60 L.226 108

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

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

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

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

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

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

Sector Discrepancies F.11 65

Instrument Discrepancies F.12 65

Title

Balance Sheet Reconciliation

Table Page Table Page

Balance Sheet and Changes in Net Worth

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

Nonfinancial Corporate Business B.102 114 R.102 117

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

Title

Flows Levels

Table Page Table Page

Supplementary Tables

Balance Sheet of Households and Nonprofit Organizations

with Equity Detail B.100.e 119

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

Consolidated Statement for Federal, State, and Local 

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

Life Insurance Companies: General Accounts F.115.g 124 L.115.g 125

Life Insurance Companies: Separate Accounts F.115.s 124 L.115.s 125

Private Pension Funds: Defined Benefit Plans F.117.b 126 L.117.b 127

Private Pension Funds: Defined Contribution Plans F.117.c 126 L.117.c 127

Individual Retirement Accounts (IRAs) F.226.i 126 L.226.i 127

Equity Real Estate Investment Trusts F.127.e 128 L.127.e 129

Mortgage Real Estate Investment Trusts F.127.m 128 L.127.m 129

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy–Current Account S.1.a 130

Selected Aggregates for Total Economy and Sectors S.2.a 131

Households and Nonprofit Institutions Serving Households S.3.a 133

Nonfinancial Noncorporate Business S.4.a 136

Nonfinancial Corporate Business S.5.a 139

Financial Business S.6.a 142

Federal Government S.7.a 145

State and Local Governments S.8.a 148

Rest of the World S.9.a 151
Summary

1

Z.1, June 5, 2014 Flow of Funds Matrix for 2013

(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 -- 2155.6 -- 2204.8 -- 87.5 -- -547.5 -- 3900.4 -- 289.5 -- 392.4 -- 4582.3 --  2 Capital consumption -- 1397.5 -- 1512.3 -- 237.6 -- 267.5 -- 3415.0 -- 195.1 -- -- -- 3610.2 --  3 Net saving (1 less 2) -- 758.1 -- 692.4 -- -150.1 -- -815.1 -- 485.4 -- 94.4 -- 392.4 -- 972.1 --  4 Gross investment (5 plus 11) 2753.2 -- 1611.3 -- 66.6 -- -432.9 -- 3998.2 -- 386.4 -- 351.5 -- 4736.1 -- -153.8 5 Capital expenditures 1733.9 -- 1886.8 -- 340.9 -- 273.9 -- 4235.5 -- 220.0 -- 0.7 -- 4456.2 -- 126.1 6 Consumer durables 1179.8 -- -- -- -- -- -- -- 1179.8 -- -- -- -- -- 1179.8 -- --  7 Residential 413.9 -- 88.3 -- 4.8 -- 0.7 -- 507.7 -- 14.7 -- -- -- 522.4 -- --  8 Nonresidential 148.1 -- 1693.8 -- 326.6 -- 274.1 -- 2442.6 -- 205.2 -- -- -- 2647.8 -- --  9 Inventory change -- -- 106.1 -- -- -- -- -- 106.1 -- -- -- -- -- 106.1 -- -- 10 Nonproduced nonfinancial assets -7.8 -- -1.3 -- 9.5 -- -1.0 -- -0.7 -- -- -- 0.7 -- -- -- -- 11 Net lending (+) or net borrowing (-) 1019.2 -- -275.5 -- -274.3 -- -706.7 -- -237.3 -- 166.4 -- 350.8 -- 279.9 -- -279.912 Total financial assets 1248.8 -- 949.8 -- 21.9 -- 172.5 -- 2393.0 -- 3537.8 -- 972.3 -- 6903.2 -- -- 13 Total liabilities -- 229.6 -- 1225.3 -- 296.2 -- 879.3 -- 2630.3 -- 3371.4 -- 621.5 -- 6623.3 -- 14 U.S. official reserve assets -- -- -- -- -- -- -3.3 0.0 -3.3 0.0 0.2 -- 0.0 -3.1 -3.1 -3.1 -- 15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- -- -- -0.4 -- -0.4 0.7 -- -- -- 0.7 -0.4 -1.117 Foreign deposits 3.4 -- 44.7 -- -- -- -- -- 48.1 -- -9.6 -- -- 55.9 38.5 55.9 17.418 Interbank claims -- -- -- -- -- -- -- -- -- -- 760.1 1107.0 290.1 -- 1050.2 1107.0 56.819 Checkable dep. and currency 106.9 -- 104.2 -- 6.5 -- 69.6 -- 287.2 -- -3.3 332.6 49.5 -- 333.4 332.6 -0.720 Time and savings deposits 197.4 -- 67.6 -- 12.7 -- -0.5 -- 277.3 -- 83.1 409.1 48.7 -- 409.1 409.1 -- 21 Money market fund shares 23.1 -- 42.5 -- 4.9 -- -- -- 70.5 -- -106.1 28.7 64.3 -- 28.7 28.7 -- 22 Fed. funds and security RPs -- -- -0.9 -- 4.3 -- -- -- 3.4 -- -375.6 -393.6 56.4 -108.8 -315.8 -502.4 -186.623 Credit market instruments -241.5 190.1 -49.9 901.9 -27.4 -38.9 125.4 759.1 -193.3 1812.2 1908.5 211.0 546.4 238.4 2261.6 2261.6 -- 24 Open market paper -3.8 -- -29.5 14.2 -7.8 -- -- -- -41.1 14.2 38.4 -48.9 2.0 34.0 -0.8 -0.8 -- 25 Treasury securities -213.3 -- 2.0 -- -14.3 -- -- 759.5 -225.6 759.5 547.3 -- 437.7 -- 759.5 759.5 -- 26 Agency- and GSE-backed sec. -83.0 -- -4.7 -- -12.6 -- 0.0 -0.4 -100.3 -0.4 427.8 239.9 -87.9 -- 239.5 239.5 -- 27 Municipal securities -39.5 -13.1 -12.3 9.3 0.2 -39.4 -- -- -51.6 -43.2 6.6 -- 1.7 -- -43.2 -43.2 -- 28 Corporate and fgn. bonds 106.2 -- -- 640.3 2.7 -- -0.1 -- 108.8 640.3 405.6 -87.0 201.6 162.7 716.0 716.0 -- 29 Depository inst. loans n.e.c. -- 30.0 -- 96.1 -- -- -- -- -- 126.1 186.1 20.9 -- 39.1 186.1 186.1 -- 30 Other loans and advances 5.0 2.0 -- 42.3 -- 0.5 8.5 -- 13.5 44.9 121.1 78.3 -8.7 2.7 125.8 125.8 -- 31 Mortgages -6.5 -2.5 0.3 99.7 4.4 -- 4.0 0.0 2.1 97.1 102.8 7.8 -- -- 104.9 104.9 -- 32 Consumer credit -6.5 173.8 -5.6 -- -- -- 113.1 -- 100.9 173.8 72.8 -- -- -- 173.8 173.8 -- 33 Corporate equities -150.8 -- -- -408.6 1.4 -- -4.8 -- -154.2 -408.6 189.1 161.9 -55.4 226.2 -20.5 -20.5 -- 34 Mutual fund shares 713.9 -- 0.8 -- 0.7 -- -- -- 715.4 -- 19.3 635.6 -99.1 -- 635.6 635.6 -- 35 Trade credit -- 1.0 150.2 125.7 8.8 39.6 -1.5 18.3 157.4 184.6 -2.2 0.3 9.8 -8.6 165.1 176.4 11.336 Security credit 58.5 35.4 -- -- -- -- -- -- 58.5 35.4 45.9 68.9 -- -- 104.3 104.3 -- 37 Life insurance reserves 28.7 -- -- -- -- -- -- 0.3 28.7 0.3 1.4 29.8 -- -- 30.0 30.0 -- 38 Pension entitlements 507.5 -- -- -- -- -- -- -- 507.5 -- -- 507.5 -- -- 507.5 507.5 -- 39 Taxes payable -- -- -- -6.4 3.7 -- -18.0 -- -14.3 -6.4 -- 17.7 -- -- -14.3 11.3 25.640 Equity in noncorp. business -22.1 -- -- -19.8 -- -- -- -- -22.1 -19.8 -- -2.3 -- -- -22.1 -22.1 -- 41 Miscellaneous 23.9 3.0 590.5 632.5 6.2 295.5 5.6 102.0 626.3 1033.0 1026.4 257.3 61.7 221.6 1714.4 1511.8 -202.642 Sector discrepancies (1 less 4) -597.6 -- 593.5 -- 20.9 -- -114.7 -- -97.9 -- -96.9 -- 40.9 -- -153.8 -- -153.8General notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

2

Z.1, June 5, 2014 Flow of Funds Matrix for 2013

(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 66497.9 -- 20228.0 -- 2894.9 -- 1701.2 -- 91322.0 -- 81269.4 -- 22570.5 -- 195161.9 -- -7740.5 2 Total liabilities and equity -- 13768.2 -- 51485.2 -- 5055.5 -- 16123.5 -- 86432.4 -- 83397.6 -- 17591.4 -- 187421.4 --  3 Total liabilities -- 13768.2 -- 21791.2 -- 5055.5 -- 16123.5 -- 56738.4 -- 76891.4 -- 11080.0 -- 144709.7 --  4 U.S. official reserve assets -- -- -- -- -- -- 96.4 54.4 96.4 54.4 34.6 -- 54.4 119.9 185.4 174.3 -11.0 5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- -- -- 5.2 5.2 --  6 Treasury currency -- -- -- -- -- -- -- 25.6 -- 25.6 45.5 -- -- -- 45.5 25.6 -19.9 7 Foreign deposits 48.4 -- 80.6 -- -- -- -- -- 129.0 -- 33.7 -- -- 805.9 162.7 805.9 643.2 8 Interbank claims -- -- -- -- -- -- -- -- -- -- 2321.8 2790.8 392.2 -- 2714.0 2790.8 76.9 9 Checkable dep. and currency 1004.7 -- 927.4 -- 124.3 -- 162.9 -- 2219.3 -- 372.0 3186.5 590.0 -- 3181.4 3186.5 5.110 Time and savings deposits 7388.7 -- 1031.6 -- 302.5 -- 1.5 -- 8724.4 -- 713.0 9872.9 435.5 -- 9872.9 9872.9 -- 11 Money market fund shares 1130.4 -- 601.9 -- 162.9 -- -- -- 1895.2 -- 619.1 2678.3 164.0 -- 2678.3 2678.3 -- 12 Fed. funds and security RPs -- -- 8.8 -- 129.6 -- -- -- 138.4 -- 2740.2 2931.3 822.0 738.9 3700.6 3670.3 -30.313 Credit market instruments 5446.0 13146.1 260.6 13604.4 1529.7 2941.1 1043.1 12352.8 8279.5 42044.5 40828.5 13947.1 9806.8 2923.2 58914.8 58914.8 -- 14 Open market paper 15.0 -- 30.3 144.5 75.2 -- -- -- 120.5 144.5 633.9 400.2 197.2 407.0 951.6 951.6 -- 15 Treasury securities 935.4 -- 90.8 -- 583.0 -- -- 12328.3 1609.3 12328.3 4915.3 -- 5803.8 -- 12328.3 12328.3 -- 16 Agency- and GSE-backed sec. 125.9 -- 8.4 -- 480.1 -- 0.0 24.5 614.5 24.5 6297.5 7769.7 882.2 -- 7794.1 7794.1 -- 17 Municipal securities 1626.3 227.8 17.5 518.5 13.6 2924.9 -- -- 1657.4 3671.2 1944.2 -- 69.6 -- 3671.2 3671.2 -- 18 Corporate and fgn. bonds 2578.0 -- -- 6435.5 168.7 -- 0.6 -- 2747.2 6435.5 7890.4 4717.0 2718.9 2204.1 13356.5 13356.5 -- 19 Depository inst. loans n.e.c. -- 92.7 -- 1776.1 -- -- -- -- -- 1868.8 2508.8 363.2 -- 276.7 2508.8 2508.8 -- 20 Other loans and advances 25.9 141.3 -- 1232.9 -- 16.2 197.2 -- 223.1 1390.4 1562.5 494.9 135.2 35.5 1920.8 1920.8 -- 21 Mortgages 80.4 9586.9 70.0 3496.9 209.1 -- 115.5 0.0 475.0 13083.9 12811.0 202.2 -- -- 13286.0 13286.0 -- 22 Consumer credit 59.1 3097.4 43.5 -- -- -- 729.8 -- 832.5 3097.4 2264.9 -- -- -- 3097.4 3097.4 -- 23 Corporate equities 13309.6 -- -- 20952.4 165.0 -- 35.1 -- 13509.7 20952.4 15770.8 6487.0 4670.4 6511.5 33950.9 33950.9 -- 24 Mutual fund shares 6890.1 -- 211.4 -- 79.8 -- -- -- 7181.4 -- 3327.2 11544.6 1036.0 -- 11544.6 11544.6 -- 25 Trade credit -- 255.0 3020.9 2415.1 169.1 786.1 48.8 253.8 3238.8 3710.0 131.0 14.5 155.4 60.7 3525.2 3785.3 260.126 Security credit 815.5 339.2 -- -- -- -- -- -- 815.5 339.2 420.8 897.1 -- -- 1236.2 1236.2 -- 27 Life insurance reserves 1242.2 -- -- -- -- -- -- 50.3 1242.2 50.3 174.3 1366.3 -- -- 1416.5 1416.5 -- 28 Pension entitlements 19563.8 -- -- -- -- -- -- -- 19563.8 -- -- 19563.8 -- -- 19563.8 19563.8 -- 29 Taxes payable -- -- -- 150.0 123.8 -- 165.8 -- 289.6 150.0 -- -59.1 -- -- 289.6 90.8 -198.830 Equity in noncorp. business 8760.8 -- -- 8741.6 -- -- -- -- 8760.8 8741.6 -- 19.2 -- -- 8760.8 8760.8 -- 31 Miscellaneous 897.6 27.9 14084.7 5621.7 108.1 1328.2 147.7 3381.5 15238.0 10359.3 13731.8 8157.3 4443.8 6431.3 33413.5 24947.9 -8465.7General 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 23) and equity in noncorporate business (line 30). 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, June 5, 2014 3

D.1 Credit Market Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1979 12.0 14.8 16.4 13.9 13.5 11.3 9.0 5.8 23.0 9.6

1980 9.4 8.2 10.9 1.0 10.1 8.5 6.9 11.8 14.9 14.3

1981 10.3 7.3 7.2 5.5 12.9 13.6 8.0 11.6 18.4 12.2

1982 10.4 5.6 4.8 5.0 9.9 10.3 11.2 19.7 13.6 7.5

1983 12.0 11.0 10.2 12.1 9.2 8.4 11.4 18.9 13.3 8.3

1984 14.9 13.0 11.4 18.4 16.1 16.6 11.4 16.9 17.5 3.7

1985 15.6 16.1 14.6 15.9 11.0 12.6 31.8 16.5 19.3 0.5

1986 11.9 11.4 13.7 9.1 11.5 13.9 10.9 13.6 26.2 2.9

1987 9.1 10.4 13.4 4.8 7.8 8.9 12.0 8.0 18.3 3.2

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

1989 7.2 9.1 10.9 6.3 6.3 7.3 5.3 7.0 10.5 -2.1

1990 6.5 7.1 8.8 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 0.6 1.5 10.9 8.5 3.9

1993 5.6 6.1 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 7.1 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 9.5 4.9 0.6 12.0 11.1

1998 6.5 7.5 8.0 7.2 11.5 10.8 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 10.7 13.3 5.6 3.0 1.3 11.1 7.6 9.6 9.0

2003 8.1 11.9 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 9.2 11.2 13.4 4.5 9.0 6.9 5.8 7.0 9.4 7.9

2006 8.8 10.2 11.2 5.2 10.9 9.2 3.9 3.9 10.3 21.8

2007 8.7 7.0 7.4 6.1 13.7 13.5 5.5 4.9 12.9 9.2

2008 6.4 1.1 0.9 1.3 6.3 5.2 0.6 24.2 6.0 -10.0

2009 3.7 -0.1 0.6 -3.9 -2.1 -2.0 4.0 22.7 -9.7 11.9

2010 4.7 -1.1 -1.8 -1.0 1.5 2.6 2.3 20.2 -5.7 3.8

2011 4.2 -0.2 -0.7 4.1 4.8 6.7 -1.7 11.4 -2.4 5.6

2012 5.4 1.5 -0.8 6.2 6.3 8.3 -0.2 10.9 -3.0 5.0

2013 4.5 1.5 -0.1 5.9 7.1 8.9 -1.3 6.5 1.5 8.6

2008 -- Q1 6.9 4.7 4.2 6.2 9.1 9.0 2.0 10.7 6.4 11.0

 Q2 3.9 0.7 0.9 2.5 7.7 7.0 0.9 5.8 6.8 -0.2

 Q3 7.8 0.4 0.1 -0.7 5.6 4.5 0.7 36.0 7.1 -28.4

 Q4 6.5 -1.7 -1.6 -2.8 2.5 -0.2 -1.1 37.5 3.3 -25.0

2009 -- Q1 4.9 0.4 1.9 -2.8 -0.7 -0.6 2.7 25.8 -9.9 11.4

 Q2 5.0 0.1 0.5 -5.8 -1.9 -1.5 5.1 27.0 -12.5 11.3

 Q3 2.9 -0.2 0.1 -3.1 -3.3 -3.5 3.9 18.4 -9.8 15.1

 Q4 2.0 -0.7 0.1 -4.1 -2.6 -2.5 4.0 13.0 -7.5 6.7

2010 -- Q1 4.5 -2.2 -3.7 -2.9 0.6 1.5 3.4 22.0 -7.4 5.0

 Q2 4.5 -0.5 -0.9 -2.5 -1.1 -1.4 0.5 22.0 -6.4 -2.9

 Q3 4.6 -1.1 -1.5 0.1 3.4 5.3 1.8 15.9 -4.4 6.2

 Q4 4.8 -0.8 -1.0 1.3 3.0 4.9 3.6 15.6 -5.8 6.5

2011 -- Q1 3.3 -0.1 -0.8 4.3 3.9 6.0 -2.4 9.1 -0.8 18.2

 Q2 3.1 -1.3 -0.7 3.4 5.6 8.0 -2.7 8.0 -4.1 7.3

 Q3 5.1 0.1 -0.3 3.9 4.3 5.8 -0.3 14.4 -2.6 -2.1

 Q4 4.9 0.7 -1.0 4.6 5.0 6.5 -1.6 12.1 -2.1 -1.2

2012 -- Q1 5.5 1.0 -1.0 5.5 4.7 6.5 0.4 13.5 -3.7 0.8

 Q2 5.8 2.7 -0.8 7.2 5.3 6.9 2.9 11.0 -4.8 -2.9

 Q3 3.8 0.8 -0.1 5.2 5.2 6.7 -0.2 7.1 -2.1 9.0

 Q4 6.1 1.5 -1.2 6.1 9.4 12.1 -3.8 10.4 -1.4 12.4

2013 -- Q1 4.8 0.6 -1.0 6.1 4.9 7.2 2.4 10.1 -0.5 14.1

 Q2 3.7 1.6 0.1 5.5 7.6 9.1 1.1 2.5 0.4 1.6

 Q3 3.9 3.5 1.7 6.3 8.5 10.6 -3.9 1.5 0.5 3.4

 Q4 5.2 0.2 -1.1 5.3 6.6 7.7 -4.9 11.6 5.7 14.8

2014 -- Q1 5.0 2.0 -0.9 6.6 7.3 9.3 -0.7 7.1 -2.3 7.2

1. Data shown are on an end-of-period basis.
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4 Z.1, June 5, 2014

D.2 Credit Market Borrowing by Sector

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1979 386.5 163.9 116.5 43.3 160.2 86.4 26.6 35.8 94.9 15.0

1980 339.1 104.2 90.2 3.4 135.3 72.1 22.2 77.4 75.8 24.2

1981 405.0 101.8 67.0 19.8 190.0 125.3 27.6 85.5 107.8 23.5

1982 451.6 84.1 47.4 18.8 164.4 106.6 41.7 161.3 93.6 16.0

1983 570.6 172.4 105.2 48.2 165.7 94.4 47.3 185.2 104.3 17.3

1984 794.4 223.9 127.6 81.7 320.8 207.1 52.5 197.2 156.2 8.4

1985 955.4 311.4 181.7 84.0 254.7 184.3 163.6 225.7 203.2 1.2

1986 844.7 259.5 199.3 55.8 295.0 227.8 74.2 216.0 330.1 10.2

1987 721.6 263.6 221.6 32.3 223.7 165.6 90.4 143.9 291.8 11.4

1988 786.3 272.2 215.6 46.6 308.5 224.4 50.4 155.1 249.8 -4.4

1989 684.3 276.3 224.9 47.0 214.3 165.9 47.4 146.4 224.8 -7.9

1990 658.8 233.5 200.0 15.1 131.3 131.0 47.1 246.9 207.8 11.1

1991 472.6 183.6 174.5 -8.8 -80.5 -54.3 91.2 278.2 153.1 13.4

1992 514.4 204.3 173.0 9.2 -10.5 16.0 16.5 304.0 236.5 16.4

1993 667.3 239.6 156.3 61.4 113.7 134.3 57.9 256.1 292.9 67.5

1994 639.0 324.4 166.5 135.0 204.3 189.8 -45.5 155.9 464.4 -23.2

1995 654.1 319.5 153.6 147.0 250.9 205.6 -60.8 144.4 433.6 76.4

1996 706.1 324.8 205.1 105.7 256.9 186.5 -20.5 144.9 523.2 89.0

1997 795.7 306.9 215.9 70.3 415.0 313.1 50.8 23.1 570.3 77.7

1998 995.1 412.2 301.5 97.1 568.7 389.7 66.8 -52.6 1026.5 36.0

1999 1010.7 473.8 379.2 112.4 570.9 377.1 37.3 -71.2 1052.6 12.9

2000 864.3 574.4 383.5 176.5 568.9 376.5 16.9 -295.9 790.8 60.5

2001 1163.7 666.1 508.2 150.6 397.7 234.2 105.5 -5.6 862.3 -19.0

2002 1429.4 812.2 706.1 105.2 215.0 63.2 144.6 257.6 881.6 81.4

2003 1683.4 1004.6 872.0 105.9 162.2 88.4 120.5 396.0 1071.5 45.0

2004 2096.4 1051.8 934.6 117.2 504.0 249.3 178.8 361.9 938.8 152.4

2005 2339.0 1177.0 1053.3 100.4 713.5 371.9 141.7 306.9 1113.7 115.8

2006 2433.1 1201.1 997.4 120.5 947.7 532.4 100.9 183.4 1336.3 335.7

2007 2614.2 911.7 731.9 151.3 1318.8 855.7 146.7 237.1 1832.8 175.6

2008 2099.4 145.7 93.7 34.9 696.6 371.2 17.9 1239.2 978.4 -216.2

2009 1298.1 -11.1 66.0 -103.6 -247.7 -150.6 113.0 1443.9 -1663.3 208.1

2010 1664.0 -155.6 -182.3 -25.3 169.8 189.3 69.5 1580.2 -900.1 81.4

2011 1540.1 -20.9 -68.7 108.5 545.7 503.0 -52.7 1067.9 -339.8 128.9

2012 2080.6 193.6 -75.2 169.7 752.0 660.9 -5.3 1140.2 -415.8 126.2

2013 1812.2 190.1 -7.4 173.8 901.9 771.6 -38.9 759.1 211.0 238.4

2008 -- Q1 2261.2 656.6 444.1 163.4 998.8 646.1 56.3 549.4 1044.3 238.2

 Q2 1291.1 98.8 97.4 67.6 861.8 513.1 25.5 305.0 1117.1 -3.6

 Q3 2636.0 59.1 9.0 -17.7 635.7 340.8 21.1 1920.1 1194.3 -621.2

 Q4 2209.5 -231.6 -175.6 -73.7 290.0 -15.3 -31.2 2182.3 558.1 -478.4

2009 -- Q1 1686.2 55.5 196.7 -74.1 -84.3 -42.9 76.0 1638.9 -1691.9 199.8

 Q2 1760.5 11.6 49.3 -153.1 -225.0 -111.3 146.2 1827.7 -2145.5 201.4

 Q3 1040.6 -21.3 10.3 -81.3 -380.4 -264.7 113.2 1329.1 -1612.2 290.0

 Q4 705.1 -90.3 7.8 -106.0 -301.1 -183.4 116.8 979.8 -1203.6 141.3

2010 -- Q1 1590.4 -300.9 -384.5 -73.3 69.7 108.9 100.9 1720.7 -1165.3 105.5

 Q2 1629.1 -72.0 -90.9 -64.7 -124.7 -105.7 14.8 1811.0 -954.1 -63.6

 Q3 1675.0 -144.1 -151.8 3.6 386.6 390.0 54.6 1377.9 -645.9 133.7

 Q4 1761.4 -105.5 -102.1 33.0 347.7 364.0 107.8 1411.3 -834.9 150.1

2011 -- Q1 1214.8 -16.6 -77.4 112.8 447.1 445.7 -73.6 857.9 -110.3 420.2

 Q2 1162.3 -172.4 -71.2 90.1 642.6 608.8 -80.0 772.1 -593.1 178.8

 Q3 1907.5 8.8 -30.3 106.3 498.1 450.6 -10.2 1410.8 -363.0 -53.6

 Q4 1875.7 96.7 -96.0 124.8 595.1 506.7 -47.0 1230.9 -292.5 -30.0

2012 -- Q1 2119.8 131.8 -100.3 152.4 563.6 517.1 13.2 1411.2 -523.1 19.2

 Q2 2264.0 350.2 -72.5 201.7 640.4 561.1 87.8 1185.7 -663.8 -75.0

 Q3 1517.5 99.5 -12.1 148.9 636.8 549.3 -6.5 787.7 -287.9 230.0

 Q4 2420.9 193.0 -116.1 175.7 1167.3 1016.0 -115.5 1176.1 -188.3 330.4

2013 -- Q1 1939.3 72.8 -94.9 179.0 624.7 622.4 73.0 1168.7 -67.0 393.3

 Q2 1523.2 206.5 7.2 162.9 984.1 798.9 32.8 299.9 61.4 45.9

 Q3 1624.1 452.6 163.4 190.6 1113.8 954.2 -116.5 174.1 62.3 95.6

 Q4 2162.3 28.6 -105.2 162.6 885.0 710.9 -144.8 1393.6 787.4 418.6

2014 -- Q1 2113.4 267.1 -83.8 203.3 993.1 873.2 -20.3 873.6 -319.4 209.9
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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

1979 3596.5 1272.8 826.7 354.6 1343.8 851.8 322.2 657.7 508.9 168.5

1980 3943.2 1389.1 926.5 358.0 1474.7 919.6 344.4 735.0 584.7 193.4

1981 4349.2 1498.2 998.3 377.9 1658.5 1038.7 372.1 820.5 689.2 214.0

1982 4770.6 1567.5 1031.2 396.7 1807.6 1129.9 413.8 981.8 785.5 208.1

1983 5344.2 1719.8 1116.4 444.9 1996.2 1247.2 461.1 1167.0 890.1 224.1

1984 6138.2 1939.8 1243.3 526.6 2320.6 1458.0 513.6 1364.2 1054.9 232.8

1985 7111.8 2272.0 1450.2 610.6 2572.0 1638.9 677.9 1589.9 1259.0 350.1

1986 7953.5 2529.5 1649.0 666.4 2866.0 1865.8 752.1 1805.9 1596.6 360.0

1987 8656.8 2747.1 1828.6 698.6 3117.4 2059.2 842.6 1949.8 1899.7 372.3

1988 9439.6 3036.3 2054.8 745.2 3405.5 2263.5 893.0 2104.9 2149.5 371.3

1989 10141.0 3305.1 2260.1 809.3 3644.3 2454.1 940.4 2251.2 2402.8 371.3

1990 10827.2 3567.8 2489.3 824.4 3773.8 2583.3 987.4 2498.1 2613.8 388.9

1991 11296.4 3755.0 2667.4 815.6 3686.4 2524.4 1078.6 2776.4 2766.8 419.2

1992 11813.9 3959.4 2840.4 824.8 3679.1 2543.6 1095.1 3080.3 3018.9 433.6

1993 12496.1 4201.3 2999.0 886.2 3805.2 2690.4 1153.0 3336.5 3317.2 527.1

1994 13141.4 4525.0 3165.5 1021.2 4016.5 2887.2 1107.5 3492.3 3789.7 490.0

1995 13811.3 4844.5 3319.2 1168.2 4283.3 3108.6 1046.7 3636.7 4226.3 612.6

1996 14517.4 5182.3 3537.3 1273.9 4527.2 3282.1 1026.2 3781.7 4749.5 703.3

1997 15311.1 5489.2 3753.2 1344.2 4940.1 3593.1 1076.9 3804.8 5299.7 777.4

1998 16306.2 5901.4 4054.7 1441.3 5508.8 3982.8 1143.8 3752.2 6326.2 835.8

1999 17351.3 6375.3 4431.6 1553.6 6114.0 4394.2 1181.0 3681.0 7376.5 794.8

2000 18225.4 6959.5 4813.9 1741.3 6682.9 4770.7 1197.9 3385.1 8168.4 858.5

2001 19372.1 7625.7 5322.0 1891.8 7063.6 4987.9 1303.4 3379.5 9156.8 901.5

2002 20801.5 8437.9 6028.2 1997.0 7278.7 5051.1 1447.9 3637.0 10038.4 1096.9

2003 22529.0 9472.5 6909.9 2102.9 7455.0 5153.5 1568.4 4033.1 10945.2 1279.4

2004 25357.4 10544.3 7859.4 2220.1 7969.9 5413.8 2448.2 4395.0 11898.8 1462.0

2005 27696.4 11721.3 8912.7 2320.6 8683.4 5785.7 2589.8 4701.9 12958.0 1539.9

2006 30174.3 12946.4 9910.0 2461.9 9651.8 6338.9 2690.8 4885.3 14261.3 1911.8

2007 32765.4 13830.1 10611.4 2615.7 10975.6 7201.1 2837.5 5122.3 16204.9 2160.8

2008 34727.0 13849.6 10579.0 2650.6 11660.5 7567.2 2855.4 6361.5 17103.3 1753.2

2009 35637.1 13546.3 10417.6 2552.8 11317.0 7332.5 2968.4 7805.4 15714.4 2131.1

2010 37043.2 13214.8 9912.7 2647.4 11404.8 7455.0 3038.0 9385.6 14454.9 2314.0

2011 38434.7 13052.9 9697.5 2755.9 11943.0 7958.0 2985.3 10453.6 14035.8 2513.8

2012 40352.0 13044.2 9481.7 2923.6 12734.0 8662.4 2980.0 11593.7 13804.0 2784.1

2013 42044.5 13146.1 9386.2 3097.4 13604.4 9407.1 2941.1 12352.8 13947.1 2923.2

2008 -- Q1 33309.9 13974.4 10702.6 2656.6 11224.3 7362.5 2851.5 5259.7 16455.5 2254.8

 Q2 33599.9 13967.9 10695.8 2673.5 11438.1 7490.8 2857.9 5335.9 16717.3 2183.6

 Q3 34219.8 13950.4 10665.8 2669.1 11590.2 7571.0 2863.2 5816.0 16991.8 1915.9

 Q4 34727.0 13849.6 10579.0 2650.6 11660.5 7567.2 2855.4 6361.5 17103.3 1753.2

2009 -- Q1 35039.5 13747.2 10582.4 2632.1 11646.7 7566.1 2874.4 6771.3 17104.2 1779.0

 Q2 35425.8 13699.2 10538.0 2599.6 11587.5 7538.2 2910.9 7228.2 16534.2 1920.3

 Q3 35619.8 13630.9 10477.7 2579.3 11489.2 7472.1 2939.2 7560.5 16099.0 2094.3

 Q4 35637.1 13546.3 10417.6 2552.8 11317.0 7332.5 2968.4 7805.4 15714.4 2131.1

2010 -- Q1 36044.6 13464.9 10273.0 2538.1 11350.5 7377.0 2993.6 8235.6 14888.1 2179.7

 Q2 36401.7 13399.1 10202.5 2521.9 11316.9 7350.6 2997.3 8688.4 14626.3 2169.2

 Q3 36776.3 13321.3 10122.8 2522.8 11411.2 7448.1 3011.0 9032.8 14443.9 2309.4

 Q4 37043.2 13214.8 9912.7 2647.4 11404.8 7455.0 3038.0 9385.6 14454.9 2314.0

2011 -- Q1 37306.0 13171.7 9854.5 2675.6 11514.6 7566.4 3019.6 9600.1 14408.2 2437.3

 Q2 37561.5 13095.5 9798.2 2698.2 11673.3 7718.6 2999.6 9793.2 14235.7 2521.0

 Q3 38001.8 13063.0 9755.8 2724.7 11796.0 7831.2 2997.0 10145.9 14126.1 2508.6

 Q4 38434.7 13052.9 9697.5 2755.9 11943.0 7958.0 2985.3 10453.6 14035.8 2513.8

2012 -- Q1 38923.9 13053.7 9638.0 2794.0 12075.3 8077.9 2988.6 10806.4 13950.5 2555.0

 Q2 39446.0 13099.1 9579.7 2842.5 12233.6 8218.2 3010.5 11102.8 13764.1 2543.4

 Q3 39779.7 13028.3 9540.8 2879.7 12442.8 8407.4 3008.9 11299.7 13859.4 2675.5

 Q4 40352.0 13044.2 9481.7 2923.6 12734.0 8662.4 2980.0 11593.7 13804.0 2784.1

2013 -- Q1 40809.1 13036.1 9431.7 2968.4 12888.8 8817.9 2998.2 11885.9 13771.4 2856.4

 Q2 41164.0 13063.1 9408.9 3009.1 13133.6 9017.6 3006.4 11960.9 13771.4 2779.3

 Q3 41536.4 13155.1 9428.6 3056.7 13399.5 9244.7 2977.3 12004.4 13771.1 2826.2

 Q4 42044.5 13146.1 9386.2 3097.4 13604.4 9407.1 2941.1 12352.8 13947.1 2923.2

2014 -- Q1 42558.2 13199.1 9351.4 3148.2 13851.9 9625.2 2936.0 12571.2 13859.1 3012.8

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Credit market borrowing 2861.6 -157.0 845.4 1329.2 1790.9 2261.6 2265.6 1630.5 1781.9 3368.3 2003.9 1

 2 Domestic nonfinancial sectors 2099.4 1298.1 1664.0 1540.1 2080.6 1812.2 1939.3 1523.2 1624.1 2162.3 2113.4 2

 3 Household sector 145.7 -11.1 -155.6 -20.9 193.6 190.1 72.8 206.5 452.6 28.6 267.1 3

 4 Nonfinancial corporate business 371.2 -150.6 189.3 503.0 660.9 771.6 622.4 798.9 954.2 710.9 873.2 4

 5 Nonfinancial noncorporate business 325.4 -97.1 -19.5 42.7 91.1 130.3 2.3 185.1 159.6 174.1 119.8 5

 6 State and local governments 17.9 113.0 69.5 -52.7 -5.3 -38.9 73.0 32.8 -116.5 -144.8 -20.3 6

 7 Federal government 1239.2 1443.9 1580.2 1067.9 1140.2 759.1 1168.7 299.9 174.1 1393.6 873.6 7

 8 Rest of the world -216.2 208.1 81.4 128.9 126.2 238.4 393.3 45.9 95.6 418.6 209.9 8

 9 Financial sectors 978.4 -1663.3 -900.1 -339.8 -415.8 211.0 -67.0 61.4 62.3 787.4 -319.4 9

 10 U.S.-chartered depository institutions -0.9 -292.2 -217.6 -50.5 -110.8 -33.5 -111.3 -19.4 -50.1 47.0 -22.6 10

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

 12 Credit unions 8.3 -14.1 -0.4 -2.0 0.9 1.9 -11.4 4.9 12.5 1.7 1.7 12

 13 Life insurance companies 26.2 -6.6 -3.2 1.8 4.8 7.8 5.2 6.5 -2.9 22.5 7.7 13

 14 Government-sponsored enterprises 261.3 -518.4 -233.8 -187.2 -154.6 107.5 43.1 136.7 40.2 210.1 -355.5 14

 15 Agency- and GSE-backed mortgage pools 507.4 458.3 186.9 165.3 132.2 132.4 138.8 88.9 158.3 143.5 101.8 15

 16 ABS issuers -332.0 -614.0 -412.2 -172.6 -143.8 -100.2 -153.1 -141.2 -75.5 -31.0 -111.1 16

 17 Finance companies -79.4 -156.2 -174.9 -13.5 -56.7 4.2 -49.5 0.1 59.3 6.9 -65.3 17

 18 REITs -53.8 -27.6 0.1 25.6 35.5 43.2 8.0 39.6 38.0 87.3 50.2 18

 19 Brokers and dealers 77.7 -49.7 36.9 -37.9 -1.7 22.2 -4.2 55.8 -27.8 65.1 13.3 19

 20 Holding companies 97.3 -8.0 -16.5 -16.5 -97.7 -1.6 -24.5 -149.7 -36.1 203.8 11.2 20

 21 Funding corporations 466.4 -434.8 -65.3 -52.4 -23.9 27.0 91.9 39.1 -53.7 30.7 49.3 21

 22 Credit market lending 2861.6 -157.0 845.4 1329.2 1790.9 2261.6 2265.6 1630.5 1781.9 3368.3 2003.9 22

 23 Domestic nonfinancial sectors 220.7 465.3 207.2 -144.8 84.2 -193.3 -348.8 -201.6 -393.6 170.8 -561.7 23

 24 Household sector 269.2 186.9 50.2 -107.5 -43.8 -241.5 -510.0 -367.6 -325.1 236.6 -754.2 24

 25 Nonfinancial corporate business -34.6 10.1 2.6 -7.1 -10.0 -52.3 -88.6 -6.5 -22.4 -91.8 47.6 25

 26 Nonfinancial noncorporate business -10.9 -6.7 6.6 1.0 1.4 2.5 0.7 3.1 2.9 3.2 1.6 26

 27 State and local governments -96.5 -34.1 64.1 -50.4 31.6 -27.4 83.8 44.2 -158.1 -79.4 -5.8 27

 28 Federal government 93.4 309.1 83.6 19.1 105.0 125.4 165.3 125.1 109.1 102.2 149.0 28

 29 Rest of the world 377.2 123.5 623.7 239.6 449.7 546.4 561.4 87.7 512.3 1024.3 612.9 29

 30 Financial sectors 2263.7 -745.8 14.5 1234.4 1257.1 1908.5 2053.0 1744.4 1663.2 2173.3 1952.8 30

 31 Monetary authority 245.4 1001.6 271.5 376.5 34.5 1086.1 1134.2 1083.8 1023.6 1102.9 911.1 31

 32 U.S.-chartered depository institutions 292.8 -280.4 -120.7 173.7 424.0 253.7 199.9 219.7 63.9 531.4 612.8 32

 33 Foreign banking offices in U.S. 103.4 -287.5 -24.4 42.5 5.8 -7.2 -84.9 -39.1 74.7 20.4 58.2 33

 34 Banks in U.S.-affiliated areas -1.9 -2.8 -19.3 -4.9 -0.1 0.3 -1.1 -0.1 -3.2 5.6 -0.3 34

 35 Credit unions 40.7 34.1 24.9 38.6 47.0 50.3 54.4 61.7 60.2 24.7 75.4 35

 36 Property-casualty insurance companies -15.9 33.3 3.9 36.2 1.0 25.3 22.6 13.0 27.2 38.3 27.9 36

 37 Life insurance companies 11.6 139.8 151.6 125.3 74.3 74.8 41.9 77.2 53.2 126.9 127.8 37

 38 Private pension funds -4.9 12.7 123.2 73.2 12.5 44.8 28.6 70.0 44.2 36.3 -2.9 38

 39 State and local govt. retirement funds -25.1 -85.2 19.2 12.4 6.6 64.7 40.8 114.9 14.8 88.3 26.7 39

 40 Federal government retirement funds 23.9 7.4 10.9 25.6 15.4 9.6 -14.0 -44.3 -381.4 478.2 6.1 40

 41 Money market mutual funds 727.9 -619.9 -396.6 -9.8 -82.7 30.9 74.5 117.6 83.7 -152.1 -213.1 41

 42 Mutual funds 32.4 387.1 353.6 359.4 642.0 363.9 670.9 257.6 226.8 300.3 352.8 42

 43 Closed-end funds -40.5 10.5 5.3 -1.7 11.1 13.4 30.6 24.2 -2.8 1.4 2.3 43

 44 Exchange-traded funds 23.0 46.0 29.7 46.1 52.3 12.2 28.1 13.1 17.3 -9.7 43.8 44

 45 Government-sponsored enterprises 242.9 -337.8 -288.4 -163.2 -189.4 59.8 -137.9 180.6 216.0 -19.5 -229.4 45

 46 Agency- and GSE-backed mortgage pools 507.4 458.3 186.9 165.3 132.2 132.4 138.8 88.9 158.3 143.5 101.8 46

 47 ABS issuers -315.5 -579.4 -402.5 -168.4 -137.3 -94.7 -148.9 -125.6 -69.1 -35.4 -105.4 47

 48 Finance companies -62.1 -214.9 -103.0 -45.8 -29.6 -31.8 -35.2 23.4 -13.4 -102.1 -24.6 48

 49 REITs -68.6 -10.3 44.1 120.2 127.6 -97.8 -39.2 -45.9 -81.0 -225.1 -25.9 49

 50 Brokers and dealers -85.7 -192.1 32.2 5.7 89.1 -175.4 -167.4 -330.1 -5.4 -198.8 7.9 50

 51 Holding companies 13.9 -16.0 22.1 3.1 -39.8 55.9 26.0 53.0 177.6 -32.9 -27.2 51

 52 Funding corporations 618.6 -250.4 90.3 24.4 60.6 37.3 190.1 -69.3 -21.9 50.5 227.0 52

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Domestic 2099.4 1298.1 1664.0 1540.1 2080.6 1812.2 1939.3 1523.2 1624.1 2162.3 2113.4 1

 2 By instrument 2099.4 1298.1 1664.0 1540.1 2080.6 1812.2 1939.3 1523.2 1624.1 2162.3 2113.4 2

 3 Commercial paper 7.7 -73.1 24.5 33.4 14.0 14.2 20.1 -20.1 92.0 -35.2 72.1 3

 4 Treasury securities 1239.0 1443.7 1579.6 1066.8 1140.6 759.5 1169.7 298.5 173.6 1396.0 875.5 4

 5 Agency- and GSE-backed securities 0.2 0.1 0.7 1.1 -0.4 -0.4 -1.0 1.3 0.5 -2.4 -1.9 5

 6 Municipal securities 92.4 155.3 99.7 -52.8 -4.9 -43.2 76.5 24.7 -109.7 -164.4 -19.4 6

 7 Corporate bonds 225.4 411.7 438.6 410.8 579.6 640.3 579.4 570.8 745.3 665.8 662.0 7

 8 Depository institution loans n.e.c. 188.4 -307.7 -53.7 70.7 276.9 126.1 46.9 160.4 209.3 87.9 241.4 8

 9 Other loans and advances 87.3 -164.8 -82.4 63.6 -22.7 44.9 7.9 189.5 8.4 -26.3 105.6 9

 10 Mortgages 224.2 -63.6 -317.6 -162.1 -72.2 97.1 -139.2 135.1 314.2 78.3 -25.3 10

 11 Home 43.3 23.7 -161.9 -87.3 -74.0 -1.1 -99.9 16.6 178.0 -99.0 -75.7 11

 12 Multifamily residential 43.9 4.5 -5.3 7.0 35.4 34.2 -1.9 46.3 43.5 48.7 37.6 12

 13 Commercial 115.0 -103.2 -158.6 -94.8 -39.3 56.1 -45.3 64.2 84.7 120.6 4.9 13

 14 Farm 22.0 11.3 8.1 13.1 5.8 8.0 7.9 8.0 8.1 8.1 8.0 14

 15 Consumer credit 34.9 -103.6 -25.3 108.5 169.7 173.8 179.0 162.9 190.6 162.6 203.3 15

 16 By sector 2099.4 1298.1 1664.0 1540.1 2080.6 1812.2 1939.3 1523.2 1624.1 2162.3 2113.4 16

 17 Household sector 145.7 -11.1 -155.6 -20.9 193.6 190.1 72.8 206.5 452.6 28.6 267.1 17

 18 Nonfinancial business 696.6 -247.7 169.8 545.7 752.0 901.9 624.7 984.1 1113.8 885.0 993.1 18

 19 Corporate 371.2 -150.6 189.3 503.0 660.9 771.6 622.4 798.9 954.2 710.9 873.2 19

 20 Noncorporate 325.4 -97.1 -19.5 42.7 91.1 130.3 2.3 185.1 159.6 174.1 119.8 20

 21 State and local governments 17.9 113.0 69.5 -52.7 -5.3 -38.9 73.0 32.8 -116.5 -144.8 -20.3 21

 22 Federal government 1239.2 1443.9 1580.2 1067.9 1140.2 759.1 1168.7 299.9 174.1 1393.6 873.6 22

 23 Foreign borrowing in U.S. -216.2 208.1 81.4 128.9 126.2 238.4 393.3 45.9 95.6 418.6 209.9 23

 24 Commercial paper -71.0 59.4 -2.7 -53.5 27.9 34.0 120.7 13.7 -26.6 28.1 65.2 24

 25 Bonds -158.8 163.3 59.9 137.7 62.2 162.7 239.8 3.9 77.7 329.3 90.0 25

 26 Depository institution loans n.e.c. 15.1 -14.8 24.0 43.2 30.4 39.1 33.3 24.9 41.0 57.0 54.7 26

 27 Other loans and advances -1.5 0.3 0.2 1.4 5.7 2.7 -0.4 3.5 3.5 4.1 -0.0 27

 28 Domestic and foreign 1883.2 1506.2 1745.4 1668.9 2206.7 2050.6 2332.6 1569.1 1719.7 2580.9 2323.3 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 By instrument 978.4 -1663.3 -900.1 -339.8 -415.8 211.0 -67.0 61.4 62.3 787.4 -319.4 1

 2 Open market paper -125.4 -448.1 -102.2 -68.2 -58.8 -48.9 -12.4 -15.7 -127.2 -40.4 -51.5 2

 3 GSE issues 261.3 -518.4 -233.8 -187.2 -154.6 107.5 43.1 136.7 40.2 210.1 -355.5 3

 4 Agency- and GSE-backed mortgage pool sec. 507.4 458.3 186.9 165.3 132.2 132.4 138.8 88.9 158.3 143.5 101.8 4

 5 Corporate bonds -201.4 -448.4 -544.6 -235.8 -221.7 -87.0 -299.5 -313.5 12.0 253.1 -25.3 5

 6 Depository institution loans n.e.c. 496.4 -435.9 -62.5 32.6 -121.2 20.9 -4.2 34.0 -68.7 122.6 -15.8 6

 7 Other loans and advances 33.3 -282.6 -144.7 -60.0 3.5 78.3 46.5 126.3 62.0 78.4 19.1 7

 8 Mortgages 6.8 11.8 0.8 13.5 4.8 7.8 20.6 4.6 -14.3 20.2 7.8 8

 9 By sector 978.4 -1663.3 -900.1 -339.8 -415.8 211.0 -67.0 61.4 62.3 787.4 -319.4 9

 10 U.S.-chartered depository institutions -0.9 -292.2 -217.6 -50.5 -110.8 -33.5 -111.3 -19.4 -50.1 47.0 -22.6 10

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

 12 Credit unions 8.3 -14.1 -0.4 -2.0 0.9 1.9 -11.4 4.9 12.5 1.7 1.7 12

 13 Life insurance companies 26.2 -6.6 -3.2 1.8 4.8 7.8 5.2 6.5 -2.9 22.5 7.7 13

 14 Government-sponsored enterprises 261.3 -518.4 -233.8 -187.2 -154.6 107.5 43.1 136.7 40.2 210.1 -355.5 14

 15 Agency- and GSE-backed mortgage pools 507.4 458.3 186.9 165.3 132.2 132.4 138.8 88.9 158.3 143.5 101.8 15

 16 ABS issuers -332.0 -614.0 -412.2 -172.6 -143.8 -100.2 -153.1 -141.2 -75.5 -31.0 -111.1 16

 17 Finance companies -79.4 -156.2 -174.9 -13.5 -56.7 4.2 -49.5 0.1 59.3 6.9 -65.3 17

 18 REITs -53.8 -27.6 0.1 25.6 35.5 43.2 8.0 39.6 38.0 87.3 50.2 18

 19 Brokers and dealers 77.7 -49.7 36.9 -37.9 -1.7 22.2 -4.2 55.8 -27.8 65.1 13.3 19

 20 Holding companies 97.3 -8.0 -16.5 -16.5 -97.7 -1.6 -24.5 -149.7 -36.1 203.8 11.2 20

 21 Funding corporations 466.4 -434.8 -65.3 -52.4 -23.9 27.0 91.9 39.1 -53.7 30.7 49.3 21
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F.4 Credit Market Borrowing, All Sectors, by Instrument

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total 2861.6 -157.0 845.4 1329.2 1790.9 2261.6 2265.6 1630.5 1781.9 3368.3 2003.9 1

 2 Open market paper -188.8 -461.8 -80.4 -88.3 -16.9 -0.8 128.4 -22.2 -61.8 -47.6 85.7 2

 3 Treasury securities 1239.0 1443.7 1579.6 1066.8 1140.6 759.5 1169.7 298.5 173.6 1396.0 875.5 3

 4 Agency- and GSE-backed securities 768.9 -59.9 -46.2 -20.8 -22.8 239.5 181.0 227.0 199.0 351.2 -255.6 4

 5 Municipal securities 92.4 155.3 99.7 -52.8 -4.9 -43.2 76.5 24.7 -109.7 -164.4 -19.4 5

 6 Corporate and foreign bonds -134.7 126.6 -46.0 312.8 420.1 716.0 519.6 261.2 834.9 1248.2 726.7 6

 7 Depository institution loans n.e.c. 699.9 -758.5 -92.2 146.6 186.1 186.1 76.0 219.4 181.6 267.5 280.3 7

 8 Other loans and advances 119.1 -447.0 -226.9 4.9 -13.5 125.8 53.9 319.3 73.9 56.3 124.7 8

 9 Mortgages 231.0 -51.9 -316.8 -148.6 -67.3 104.9 -118.6 139.8 299.9 98.5 -17.5 9

 10 Consumer credit 34.9 -103.6 -25.3 108.5 169.7 173.8 179.0 162.9 190.6 162.6 203.3 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues 256.4 815.0 363.2 36.3 476.1 615.0 1226.0 445.7 491.4 297.0 528.1 11

 12 Corporate equities 266.3 317.9 -6.9 -302.1 -148.8 -20.5 274.8 -61.7 -182.6 -112.7 -15.1 12

 13 Nonfinancial -334.3 -62.1 -277.4 -472.2 -399.5 -408.6 -256.2 -423.3 -452.8 -502.1 -426.8 13

 Foreign shares purchased by

 14 U.S. residents -38.5 63.7 79.1 6.0 82.6 226.2 295.3 313.6 91.4 204.5 364.8 14

 15 Financial 639.2 316.4 191.4 164.1 168.1 161.9 235.7 48.0 178.8 184.9 46.9 15

 16 Mutual fund shares -9.9 497.1 370.1 338.4 624.9 635.6 951.2 507.4 673.9 409.7 543.2 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) 2861.6 -157.0 845.4 1329.2 1790.9 2261.6 2265.6 1630.5 1781.9 3368.3 2003.9 1

 2 U.S. official reserve assets 4.8 99.9 1.8 15.9 4.5 -3.1 3.5 -0.8 -4.0 -11.1 -14.3 2

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

 4 Treasury currency -0.8 -0.4 -0.3 0.0 0.0 -0.4 0.0 0.0 -1.4 0.0 0.0 4

 5 Foreign deposits -394.3 -110.7 -9.3 -46.3 -30.2 55.9 96.8 315.3 -20.1 -168.6 -159.7 5

 6 Net interbank transactions 1751.8 -536.9 -142.8 820.5 -194.5 1107.0 1847.5 2005.3 535.7 39.6 1031.8 6

 7 Checkable deposits and currency 568.4 -7.9 266.3 234.5 267.7 332.6 294.2 68.8 162.3 805.2 224.6 7

 8 Small time and savings deposits 524.8 517.2 298.3 577.4 539.6 307.0 130.8 371.4 606.7 119.1 514.2 8

 9 Large time deposits -182.4 -173.6 -182.7 -173.3 -19.2 102.1 -6.4 46.4 227.4 141.2 209.9 9

 10 Money market fund shares 724.2 -498.7 -503.2 -112.8 7.1 28.7 -142.8 85.0 270.2 -97.8 -91.1 10

 11 Security repurchase agreements -1377.1 -377.0 413.7 251.4 250.6 -502.4 -674.3 -677.4 -254.2 -403.8 132.6 11

 12 Corporate equities 266.3 317.9 -6.9 -302.1 -148.8 -20.5 274.8 -61.7 -182.6 -112.7 -15.1 12

 13 Mutual fund shares -9.9 497.1 370.1 338.4 624.9 635.6 951.2 507.4 673.9 409.7 543.2 13

 14 Trade payables -170.6 13.4 175.7 46.2 149.1 176.4 202.6 199.3 210.9 92.7 115.5 14

 15 Security credit -352.9 -5.4 105.0 -7.4 97.7 104.3 -9.8 172.3 44.8 209.9 82.0 15

 16 Life insurance reserves 65.2 27.4 14.5 81.2 -11.9 30.0 11.7 28.7 45.3 34.4 65.9 16

 17 Pension entitlements 540.2 413.5 598.3 484.9 501.0 507.5 453.9 468.2 512.6 595.3 530.3 17

 18 Taxes payable -123.8 -3.4 19.4 20.6 11.3 11.3 27.4 -85.9 35.3 68.4 4.9 18

 19 Noncorporate proprietors’ equity -293.7 -81.5 174.5 -73.8 -28.2 -22.1 17.1 -36.9 -51.2 -17.5 -32.5 19

 20 Miscellaneous 1931.9 476.3 978.0 1606.1 1428.6 1511.8 1967.1 1110.2 1621.1 1348.7 1066.1 20

 21 Total financial sources 6333.7 413.3 3415.9 5090.3 5240.2 6623.3 7710.9 6146.3 6214.7 6421.1 6212.4 21

 - Liabilities not identified as assets:

 22 Treasury currency -0.8 -4.4 -1.1 -0.7 -0.6 -1.1 -0.9 -0.7 -2.1 -0.6 -1.0 22

 23 Foreign deposits -330.4 -122.5 -26.6 25.2 -29.7 17.4 22.4 286.4 -28.6 -210.8 -19.1 23

 24 Net interbank liabilities 44.8 14.5 25.8 3.5 5.7 56.8 294.7 -15.3 -202.1 149.9 73.1 24

 25 Security repurchase agreements -285.8 164.7 65.8 13.5 -18.6 -186.6 -344.2 -97.2 -150.9 -154.1 -44.6 25

 26 Taxes payable -67.0 -33.5 -8.8 -2.3 -2.7 25.6 31.0 -38.9 24.0 86.4 32.9 26

 27 Miscellaneous 1422.6 14.6 67.7 315.5 435.0 -202.6 -212.6 -1137.0 785.8 -246.6 79.3 27

 - Floats not included in assets:

 28 Checkable deposits: State and local govt. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Federal govt. -3.3 0.7 0.0 -0.1 0.6 0.4 -44.8 96.6 3.5 -53.6 -43.8 29

 30 Private domestic -2.0 -1.0 -1.1 0.9 0.9 -1.2 -5.3 2.4 1.9 -3.8 3.9 30

 31 Trade credit 21.5 128.0 9.5 -67.4 39.7 11.3 -10.1 -29.4 36.7 48.0 -13.6 31

 Totals identified to sectors

 32 as assets 5534.0 252.2 3284.5 4802.3 4810.0 6903.2 7980.6 7079.3 5746.6 6806.3 6145.3 32
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L.1 Credit Market Debt Outstanding (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total credit market debt owed by: 53583.5 53482.6 53812.2 54984.3 56940.1 58914.8 57406.5 57605.1 58039.4 58914.8 59398.6 1

 2 Domestic nonfinancial sectors 34727.0 35637.1 37043.2 38434.7 40352.0 42044.5 40791.9 41049.4 41445.4 42044.5 42551.1 2

 3 Household sector 13849.6 13546.3 13214.8 13052.9 13044.2 13146.1 12987.6 13012.9 13116.2 13146.1 13147.5 3

 4 Nonfinancial corporate business 7567.2 7332.5 7455.0 7958.0 8662.4 9407.1 8808.8 9024.0 9242.0 9407.1 9630.5 4

 5 Nonfinancial noncorporate business 4093.2 3984.5 3949.8 3985.0 4071.6 4197.3 4070.4 4113.3 4152.2 4197.3 4226.5 5

 6 State and local governments 2855.4 2968.4 3038.0 2985.3 2980.0 2941.1 2994.9 2986.4 2953.1 2941.1 2931.8 6

 7 Federal government 6361.5 7805.4 9385.6 10453.6 11593.7 12352.8 11930.1 11912.9 11981.9 12352.8 12614.8 7

 8 Rest of the world 1753.2 2131.1 2314.0 2513.8 2784.1 2923.2 2860.6 2790.1 2832.1 2923.2 3003.3 8

 9 Financial sectors 17103.3 15714.4 14454.9 14035.8 13804.0 13947.1 13754.0 13765.5 13761.9 13947.1 13844.1 9

 10 U.S.-chartered depository institutions 990.3 718.1 882.9 832.4 720.3 686.9 674.1 680.9 659.8 686.9 662.4 10

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

 12 Credit unions 40.6 26.5 26.1 24.2 25.1 27.0 22.2 23.5 26.6 27.0 27.4 12

 13 Life insurance companies 54.9 48.3 45.1 46.8 51.6 59.4 52.9 54.5 53.8 59.4 61.3 13

 14 Government-sponsored enterprises 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 6103.5 6137.6 6147.7 6200.2 6111.4 14

 15 Agency- and GSE-backed mortgage pools 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 15

 16 ABS issuers 4103.2 3291.0 2235.1 1988.6 1768.9 1615.1 1715.9 1664.0 1632.4 1615.1 1580.8 16

 17 Finance companies 1200.3 1044.1 1280.7 1261.9 1205.1 1209.3 1193.0 1196.0 1206.6 1209.3 1194.3 17

 18 REITs 367.4 339.8 339.9 365.5 401.0 444.2 403.0 412.9 422.4 444.2 456.8 18

 19 Brokers and dealers 142.6 92.9 129.7 91.8 90.2 112.4 89.1 103.1 96.1 112.4 115.7 19

 20 Holding companies 807.9 1253.7 1237.2 1220.8 1418.6 1402.7 1412.4 1375.0 1363.4 1402.7 1405.5 20

 21 Funding corporations 1252.8 816.8 704.2 651.8 593.5 620.5 625.2 619.9 612.2 620.5 642.8 21

 22 Total credit market assets held by: 53583.5 53482.6 53812.2 54984.3 56940.1 58914.8 57406.5 57605.1 58039.4 58914.8 59398.6 22

 23 Domestic nonfinancial sectors 7419.6 8158.5 8533.9 8085.7 8208.4 8279.5 8159.5 8204.6 8167.8 8279.5 8137.8 23

 24 Household sector 5156.0 5619.9 5834.0 5425.5 5422.2 5446.0 5339.7 5354.2 5328.7 5446.0 5262.8 24

 25 Nonfinancial corporate business 213.0 223.1 229.4 222.3 212.3 160.0 178.6 179.5 171.8 160.0 160.6 25

 26 Nonfinancial noncorporate business 95.8 89.1 95.8 96.8 98.2 100.6 98.3 99.1 99.8 100.6 101.0 26

 27 State and local governments 1557.7 1520.1 1581.2 1528.4 1558.2 1529.7 1578.2 1590.2 1544.0 1529.7 1527.1 27

 28 Federal government 397.2 706.3 793.5 812.7 917.6 1043.1 964.7 981.7 1023.4 1043.1 1086.2 28

 29 Rest of the world 7523.7 7723.4 8491.8 9029.7 9606.3 9806.8 9735.3 9484.2 9638.2 9806.8 10057.6 29

 30 Financial sectors 38640.2 37600.7 36786.4 37868.9 39125.3 40828.5 39511.7 39916.3 40233.4 40828.5 41203.2 30

 31 Monetary authority 986.0 1987.7 2259.2 2635.6 2670.1 3756.3 2939.8 3214.2 3475.1 3756.3 3970.1 31

 32 U.S.-chartered depository institutions 9459.7 9117.4 9356.2 9489.9 9866.3 10101.0 9833.4 9896.3 9925.3 10101.0 10167.7 32

 33 Foreign banking offices in U.S. 1097.1 809.7 785.2 827.7 833.5 826.3 816.4 802.2 819.3 826.3 845.5 33

 34 Banks in U.S.-affiliated areas 90.9 88.1 68.9 64.0 63.9 64.1 63.6 63.6 62.7 64.1 64.1 34

 35 Credit unions 701.1 734.6 758.6 796.2 842.3 891.8 855.1 874.1 886.7 891.8 910.1 35

 36 Property-casualty insurance companies 853.4 886.7 890.6 926.8 927.8 953.1 933.4 936.7 943.5 953.1 960.1 36

 37 Life insurance companies 2882.8 3022.6 3174.2 3299.6 3373.9 3448.7 3383.9 3405.1 3422.5 3448.7 3480.3 37

 38 Private pension funds 782.7 795.5 918.6 991.8 1004.3 1049.1 1011.4 1028.9 1040.0 1049.1 1048.4 38

 39 State and local govt. retirement funds 827.6 742.4 761.6 774.1 780.6 845.3 790.8 819.6 823.3 845.3 852.0 39

 40 Federal government retirement funds 123.2 130.6 141.5 167.0 182.4 192.0 178.9 167.8 72.5 192.0 193.5 40

 41 Money market mutual funds 2689.9 2070.0 1673.4 1663.6 1580.9 1611.8 1561.4 1550.9 1572.8 1611.8 1519.9 41

 42 Mutual funds 2229.2 2616.3 2969.9 3329.3 3981.3 4345.2 4184.4 4242.8 4287.7 4345.2 4473.2 42

 43 Closed-end funds 130.6 141.1 146.5 144.8 155.8 169.2 163.5 169.6 168.9 169.2 169.8 43

 44 Exchange-traded funds 57.1 103.0 132.7 178.8 231.1 243.3 238.2 241.4 245.8 243.3 254.3 44

 45 Government-sponsored enterprises 3037.5 2699.7 6333.1 6133.4 5914.8 5956.4 5899.5 5932.8 5954.5 5956.4 5924.1 45

 46 Agency- and GSE-backed mortgage pools 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 46

 47 ABS issuers 4005.0 3227.4 2183.3 1941.0 1727.8 1579.4 1675.7 1627.7 1597.8 1579.4 1546.5 47

 48 Finance companies 1769.4 1549.7 1405.4 1359.6 1324.9 1293.1 1311.6 1310.6 1311.2 1293.1 1281.5 48

 49 REITs 177.6 167.2 211.1 331.2 458.5 360.6 448.7 437.2 416.9 360.6 354.2 49

 50 Brokers and dealers 717.4 525.3 557.5 563.2 652.3 476.9 602.7 516.9 499.1 476.9 472.4 50

 51 Holding companies 73.0 75.8 97.9 101.1 219.5 161.9 226.0 239.2 229.2 161.9 155.1 51

 52 Funding corporations 987.5 733.3 821.6 845.6 896.2 933.5 930.5 940.6 938.0 933.5 974.7 52

(1) Excludes corporate equities and mutual fund shares.
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L.2 Credit Market Debt Owed by Nonfinancial Sectors

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Domestic 34727.0 35637.1 37043.2 38434.7 40352.0 42044.5 40791.9 41049.4 41445.4 42044.5 42551.1 1

 2 By instrument 34727.0 35637.1 37043.2 38434.7 40352.0 42044.5 40791.9 41049.4 41445.4 42044.5 42551.1 2

 3 Commercial paper 131.5 58.4 82.9 116.3 130.3 144.5 140.1 147.2 171.2 144.5 180.2 3

 4 Treasury securities 6338.2 7781.9 9361.5 10428.3 11568.9 12328.3 11905.5 11887.9 11956.8 12328.3 12590.8 4

 5 Agency- and GSE-backed securities 23.3 23.5 24.2 25.3 24.9 24.5 24.6 25.0 25.1 24.5 24.0 5

 6 Municipal securities 3517.2 3672.5 3772.1 3719.4 3714.4 3671.2 3728.6 3721.1 3685.7 3671.2 3660.8 6

 7 Corporate bonds 3954.5 4366.2 4804.8 5215.6 5795.2 6435.5 5940.0 6082.7 6269.0 6435.5 6601.0 7

 8 Depository institution loans n.e.c. 1852.6 1474.2 1465.6 1541.7 1742.8 1868.8 1737.2 1779.9 1825.3 1868.8 1911.5 8

 9 Other loans and advances 1707.3 1458.4 1269.4 1333.0 1372.4 1390.4 1372.6 1413.6 1404.6 1390.4 1415.9 9

 10 Mortgages 14551.9 14249.2 13615.2 13299.2 13079.5 13083.9 13019.4 13025.5 13071.1 13083.9 13063.4 10

 11 Home 11152.6 10937.3 10443.8 10202.5 9980.9 9887.1 9928.6 9905.6 9916.3 9887.1 9851.3 11

 12 Multifamily residential 822.8 827.3 823.5 830.5 865.9 900.0 865.4 877.0 887.9 900.0 909.4 12

 13 Commercial 2441.8 2338.6 2193.8 2099.0 2059.7 2115.7 2050.5 2066.0 2087.9 2115.7 2119.6 13

 14 Farm 134.7 146.0 154.1 167.2 173.0 181.0 175.0 177.0 179.0 181.0 183.0 14

 15 Consumer credit 2650.6 2552.8 2647.4 2755.9 2923.6 3097.4 2923.8 2966.4 3036.6 3097.4 3103.6 15

 16 By sector 34727.0 35637.1 37043.2 38434.7 40352.0 42044.5 40791.9 41049.4 41445.4 42044.5 42551.1 16

 17 Household sector 13849.6 13546.3 13214.8 13052.9 13044.2 13146.1 12987.6 13012.9 13116.2 13146.1 13147.5 17

 18 Nonfinancial business 11660.5 11317.0 11404.8 11943.0 12734.0 13604.4 12879.3 13137.3 13394.2 13604.4 13857.0 18

 19 Corporate 7567.2 7332.5 7455.0 7958.0 8662.4 9407.1 8808.8 9024.0 9242.0 9407.1 9630.5 19

 20 Noncorporate 4093.2 3984.5 3949.8 3985.0 4071.6 4197.3 4070.4 4113.3 4152.2 4197.3 4226.5 20

 21 State and local governments 2855.4 2968.4 3038.0 2985.3 2980.0 2941.1 2994.9 2986.4 2953.1 2941.1 2931.8 21

 22 Federal government 6361.5 7805.4 9385.6 10453.6 11593.7 12352.8 11930.1 11912.9 11981.9 12352.8 12614.8 22

 Foreign credit market debt

 23 held in U.S. 1753.2 2131.1 2314.0 2513.8 2784.1 2923.2 2860.6 2790.1 2832.1 2923.2 3003.3 23

 24 Commercial paper 342.0 401.3 398.6 345.1 373.0 407.0 407.4 417.4 405.9 407.0 413.8 24

 25 Bonds 1237.3 1570.3 1731.3 1939.9 2140.7 2204.1 2174.6 2087.0 2129.4 2204.1 2263.7 25

 26 Depository institution loans n.e.c. 152.4 137.5 162.0 205.2 237.7 276.7 246.0 252.2 262.5 276.7 290.4 26

 27 Other loans and advances 21.6 21.9 22.1 23.5 32.8 35.5 32.7 33.6 34.4 35.5 35.5 27

 28 Domestic and foreign 36480.3 37768.2 39357.3 40948.5 43136.1 44967.7 43652.5 43839.6 44277.5 44967.7 45554.5 28

L.3 Credit Market Debt Owed by Financial Sectors

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

 1 By instrument 17103.3 15714.4 14454.9 14035.8 13804.0 13947.1 13754.0 13765.5 13761.9 13947.1 13844.1 1

 2 Open market paper 1126.3 678.2 576.0 507.9 449.1 400.2 453.8 426.0 399.9 400.2 398.2 2

 3 GSE issues 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 6103.5 6137.6 6147.7 6200.2 6111.4 3

 4 Agency- and GSE-backed mortgage pool sec. 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 4

 5 Corporate bonds 5980.2 5735.6 5282.0 4972.3 4871.9 4717.0 4784.0 4694.1 4679.4 4717.0 4704.8 5

 6 Depository institution loans n.e.c. 789.5 424.2 373.6 400.8 342.3 363.2 340.6 355.9 337.1 363.2 359.1 6

 7 Other loans and advances 900.5 617.9 473.2 413.1 416.6 494.9 409.9 453.1 460.0 494.9 480.9 7

 8 Mortgages 163.5 175.3 176.1 189.5 194.4 202.2 199.5 200.7 197.1 202.2 204.1 8

 9 By sector 17103.3 15714.4 14454.9 14035.8 13804.0 13947.1 13754.0 13765.5 13761.9 13947.1 13844.1 9

 10 U.S.-chartered depository institutions 990.3 718.1 882.9 832.4 720.3 686.9 674.1 680.9 659.8 686.9 662.4 10

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

 12 Credit unions 40.6 26.5 26.1 24.2 25.1 27.0 22.2 23.5 26.6 27.0 27.4 12

 13 Life insurance companies 54.9 48.3 45.1 46.8 51.6 59.4 52.9 54.5 53.8 59.4 61.3 13

 14 Government-sponsored enterprises 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 6103.5 6137.6 6147.7 6200.2 6111.4 14

 15 Agency- and GSE-backed mortgage pools 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 15

 16 ABS issuers 4103.2 3291.0 2235.1 1988.6 1768.9 1615.1 1715.9 1664.0 1632.4 1615.1 1580.8 16

 17 Finance companies 1200.3 1044.1 1280.7 1261.9 1205.1 1209.3 1193.0 1196.0 1206.6 1209.3 1194.3 17

 18 REITs 367.4 339.8 339.9 365.5 401.0 444.2 403.0 412.9 422.4 444.2 456.8 18

 19 Brokers and dealers 142.6 92.9 129.7 91.8 90.2 112.4 89.1 103.1 96.1 112.4 115.7 19

 20 Holding companies 807.9 1253.7 1237.2 1220.8 1418.6 1402.7 1412.4 1375.0 1363.4 1402.7 1405.5 20

 21 Funding corporations 1252.8 816.8 704.2 651.8 593.5 620.5 625.2 619.9 612.2 620.5 642.8 21
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L.4 Credit Market Debt, All Sectors, by Instrument

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total 53583.5 53482.6 53812.2 54984.3 56940.1 58914.8 57406.5 57605.1 58039.4 58914.8 59398.6 1

 2 Open market paper 1599.8 1138.0 1057.6 969.3 952.4 951.6 1001.2 990.6 976.9 951.6 992.2 2

 3 Treasury securities 6338.2 7781.9 9361.5 10428.3 11568.9 12328.3 11905.5 11887.9 11956.8 12328.3 12590.8 3

 4 Agency- and GSE-backed securities 8166.7 8106.8 7598.2 7577.4 7554.6 7794.1 7590.8 7660.7 7713.6 7794.1 7721.1 4

 5 Municipal securities 3517.2 3672.5 3772.1 3719.4 3714.4 3671.2 3728.6 3721.1 3685.7 3671.2 3660.8 5

 6 Corporate and foreign bonds 11171.9 11672.1 11818.2 12127.8 12807.8 13356.5 12898.6 12863.8 13077.8 13356.5 13569.4 6

 7 Depository institution loans n.e.c. 2794.4 2035.9 2001.2 2147.8 2322.7 2508.8 2323.8 2388.1 2424.8 2508.8 2561.0 7

 8 Other loans and advances 2629.3 2098.1 1764.7 1769.7 1821.8 1920.8 1815.2 1900.2 1899.0 1920.8 1932.2 8

 9 Mortgages 14715.4 14424.5 13791.3 13488.7 13273.9 13286.0 13218.9 13226.2 13268.2 13286.0 13267.5 9

 10 Consumer credit 2650.6 2552.8 2647.4 2755.9 2923.6 3097.4 2923.8 2966.4 3036.6 3097.4 3103.6 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 15640.5 20085.5 23567.2 23088.3 26472.1 33950.9 29030.0 29560.2 31512.3 33950.9 34497.0 11

 12 Mutual fund shares 5388.0 6920.7 7873.0 7870.9 9323.6 11544.6 10087.4 10299.5 10904.9 11544.6 11775.7 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) 53583.5 53482.6 53812.2 54984.3 56940.1 58914.8 57406.5 57605.1 58039.4 58914.8 59398.6 1

 2 U.S. official reserve assets 74.2 175.1 175.8 183.8 181.8 174.3 175.5 174.5 177.3 174.3 174.2 2

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

 4 Treasury currency 26.6 26.2 25.9 25.9 25.9 25.6 25.9 25.9 25.6 25.6 25.6 4

 5 Foreign deposits 946.7 835.9 826.6 780.3 750.1 805.9 774.3 853.1 848.1 805.9 766.0 5

 6 Net interbank liabilities 1752.4 1215.5 1068.5 1889.0 1683.8 2790.8 2096.9 2580.5 2767.7 2790.8 2996.2 6

 7 Checkable deposits and currency 2101.3 2093.4 2359.8 2594.3 2853.8 3186.5 2872.9 2892.3 2924.6 3186.5 3185.6 7

 8 Small time and savings deposits 5749.3 6326.5 6624.9 7202.2 7803.9 8110.8 7869.1 7890.1 8052.9 8110.8 8265.0 8

 9 Large time deposits 2339.5 2105.9 1923.2 1750.0 1659.9 1762.0 1652.5 1682.4 1736.8 1762.0 1810.6 9

 10 Money market fund shares 3757.3 3258.6 2755.4 2642.5 2649.6 2678.3 2552.1 2541.9 2637.4 2678.3 2591.5 10

 11 Security repurchase agreements 3661.8 3251.3 3666.0 3922.0 4172.7 3670.3 4008.0 3846.5 3781.7 3670.3 3707.4 11

 12 Mutual fund shares 5388.0 6920.7 7873.0 7870.9 9323.6 11544.6 10087.4 10299.5 10904.9 11544.6 11775.7 12

 13 Security credit 942.1 936.7 1041.7 1034.2 1131.9 1236.2 1129.5 1172.5 1183.8 1236.2 1256.7 13

 14 Life insurance reserves 1179.8 1242.1 1278.3 1352.0 1359.0 1416.5 1370.1 1379.8 1397.4 1416.5 1434.7 14

 15 Pension entitlements 14071.9 15209.5 16751.6 17126.1 18093.8 19563.8 18572.2 18766.0 19115.6 19563.8 19766.4 15

 16 Trade payables 3226.9 3240.3 3416.1 3462.2 3608.9 3785.3 3660.7 3721.3 3767.1 3785.3 3816.3 16

 17 Taxes payable 44.0 40.6 53.1 74.0 79.5 90.8 97.6 68.8 80.9 90.8 103.2 17

 18 Miscellaneous 22321.5 22738.7 23116.7 23981.4 25069.7 24947.9 25178.0 25106.9 25332.6 24947.9 24803.7 18

 19 Total liabilities 121168.9 123104.9 126773.8 130880.4 137393.3 144709.7 139534.4 140612.4 142778.8 144709.7 145882.7 19

 + Financial assets not included in

 liabilities:

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

 21 Corporate equities 15640.5 20085.5 23567.2 23088.3 26472.1 33950.9 29030.0 29560.2 31512.3 33950.9 34497.0 21

 22 Household equity in noncorp. bus. 7471.3 6216.2 6895.6 7366.9 8038.4 8760.8 8209.8 8398.4 8608.8 8760.8 8868.9 22

 - Liabilities not identified as assets:

 23 Treasury currency -12.1 -16.5 -17.6 -18.3 -18.8 -19.9 -19.0 -19.2 -19.8 -19.9 -20.2 23

 24 Foreign deposits 779.5 657.0 630.4 655.6 625.9 643.2 631.5 703.1 695.9 643.2 638.5 24

 25 Net interbank transactions -11.4 3.0 24.8 28.3 20.1 76.9 49.9 26.6 32.9 76.9 47.1 25

 26 Security repurchase agreements 88.5 210.6 270.2 284.2 156.2 -30.3 94.5 65.7 10.9 -30.3 -15.5 26

 27 Taxes payable -198.4 -210.4 -209.0 -198.8 -200.4 -198.8 -184.6 -216.0 -206.5 -198.8 -193.0 27

 28 Miscellaneous -6490.0 -6288.4 -6870.1 -7450.8 -7816.1 -8465.7 -7889.9 -8194.7 -8084.9 -8465.7 -8621.9 28

 - Floats not included in assets:

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

 30 Federal govt. 1.2 2.0 2.5 2.5 2.3 1.4 1.5 1.1 1.3 1.4 1.8 30

 31 Private domestic 5.3 4.2 3.2 4.1 4.9 3.7 3.3 4.1 4.5 3.7 4.4 31

 32 Trade credit 137.8 265.8 279.0 211.6 248.8 260.1 181.8 144.0 157.0 260.1 192.2 32

 33 Totals identified to sectors as assets 149991.4 154790.1 163134.2 167828.4 178892.0 195161.9 183916.3 186067.4 190319.5 195161.9 197226.3 33
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F.6 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross Domestic Product (GDP) 14720.3 14417.9 14958.3 15533.8 16244.6 16799.7 16535.3 16661.0 16912.9 17089.6 17101.3 1

 2 Personal consumption expenditures (2) 10005.5 9842.9 10201.9 10711.8 11149.6 11501.5 11379.2 11427.1 11537.7 11662.2 11792.1 2

 3 Durable goods 1102.3 1023.3 1070.7 1129.9 1202.7 1263.0 1244.8 1257.5 1274.0 1275.7 1272.2 3

 4 Nondurable goods 2273.4 2175.1 2292.1 2472.8 2567.0 2622.9 2607.0 2591.0 2638.8 2654.7 2660.6 4

 5 Services 6629.8 6644.5 6839.1 7109.1 7379.9 7615.7 7527.4 7578.6 7624.8 7731.9 7859.3 5

 6 Gross private domestic investment 2424.8 1878.1 2100.8 2232.1 2475.2 2670.0 2555.1 2621.0 2738.0 2766.0 2694.8 6

 7 Fixed investment (3) 2456.8 2025.7 2039.3 2195.7 2409.1 2564.0 2491.7 2543.8 2593.2 2627.2 2627.9 7

 8 Nonresidential 1941.0 1633.4 1658.2 1809.9 1970.0 2047.1 2001.4 2030.6 2060.5 2095.7 2092.8 8

 9 Household sector (nonprofit organizations) 155.1 147.1 134.1 139.6 143.8 148.1 145.7 146.5 149.7 150.4 148.4 9

 10 Nonfinancial corporate business 1365.8 1136.6 1176.5 1296.0 1420.2 1475.9 1442.6 1464.2 1485.7 1511.1 1509.9 10

 11 Nonfinancial noncorporate business 223.8 182.9 184.9 199.1 212.5 217.9 210.0 216.6 219.5 225.4 226.9 11

 12 Financial institutions 196.2 166.9 162.8 175.2 193.4 205.2 203.1 203.2 205.6 208.9 207.6 12

 13 Residential 515.9 392.2 381.1 385.8 439.1 516.9 490.3 513.2 532.6 531.5 535.1 13

 14 Household sector 425.3 321.0 318.3 317.1 354.3 413.9 392.1 411.1 429.9 422.3 418.1 14

 15 Nonfinancial corporate business 6.8 4.7 0.5 2.7 13.3 13.0 -19.7 24.9 31.5 15.6 45.2 15

 16 Nonfinancial noncorporate business 83.7 65.8 58.3 59.5 66.2 75.2 71.6 74.9 77.9 76.5 75.5 16

 17 REITs 0.1 0.7 4.0 6.5 5.3 14.7 46.3 2.3 -6.6 17.0 -3.6 17

 18 Change in private inventories -32.0 -147.6 61.5 36.4 66.1 106.1 63.4 77.2 144.8 138.8 66.8 18

 19 Nonfinancial corporate business -31.6 -139.0 63.7 39.1 71.0 72.4 33.0 45.0 106.3 105.3 40.3 19

 20 Nonfinancial noncorporate business -0.4 -8.5 -2.2 -2.7 -4.9 33.6 30.5 32.2 38.5 33.5 26.6 20

 21 Net U.S. exports of goods and services -713.2 -392.2 -518.5 -568.7 -547.2 -497.3 -523.1 -509.0 -500.2 -456.9 -501.8 21

 22 Exports 1843.1 1583.8 1843.5 2101.1 2195.9 2259.9 2214.2 2238.9 2265.8 2320.6 2300.1 22

 23 - Imports 2556.4 1976.0 2362.0 2669.9 2743.1 2757.2 2737.3 2747.9 2766.0 2777.5 2801.9 23

 Government consumption expenditures and

 24 gross investment 3003.2 3089.1 3174.0 3158.7 3167.0 3125.5 3124.1 3121.9 3137.5 3118.4 3116.3 24

 25 Consumption expenditures (4) 2368.6 2442.1 2522.2 2526.1 2548.0 2519.2 2525.3 2517.5 2523.2 2510.8 2527.5 25

 26 Federal 879.8 933.7 1003.9 1008.7 1011.7 971.0 982.3 976.0 972.4 953.4 959.0 26

 27 State and local 1488.7 1508.4 1518.3 1517.4 1536.4 1548.1 1543.0 1541.4 1550.8 1557.3 1568.5 27

 28 Gross investment (4) 634.6 647.0 651.8 632.6 619.0 606.3 598.8 604.4 614.4 607.6 588.8 28

 29 Federal 275.8 284.0 300.0 295.4 284.0 274.8 272.7 276.6 278.8 271.3 262.1 29

 30 State and local 358.8 363.0 351.9 337.2 334.9 331.5 326.1 327.8 335.6 336.3 326.6 30

 Memo:

 31 Net U.S. income receipts from rest of the world 173.0 147.2 206.0 260.8 252.8 257.8 237.4 246.8 262.9 284.0 234.8 31

 32 U.S. income receipts 856.8 643.7 720.0 802.8 818.6 827.3 813.3 817.0 822.0 856.8 825.4 32

 33 - U.S. income payments 683.8 496.5 514.1 542.1 565.7 569.5 575.9 570.1 559.1 572.9 590.7 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 14893.2 14565.1 15164.2 15794.6 16497.4 17057.5 16772.7 16907.9 17175.9 17373.5 17336.1 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -11.0 -9.7 -8.5 -8.3 -8.4 -7.8 -8.1 -7.9 -7.7 -7.6 -7.5 35

 36 Nonfinancial corporate business 17.6 6.3 -1.1 -0.9 -0.4 -1.3 -1.0 -0.9 -1.5 -1.9 -0.6 36

 37 State and local governments 13.8 12.3 10.6 10.1 10.2 9.5 9.8 9.6 9.4 9.2 9.0 37

 38 Federal governments -20.4 -8.9 -1.0 -0.9 -1.4 -1.0 -0.6 -0.8 -1.1 -1.3 -1.3 38

 39 Rest of the world -0.0 0.0 -0.0 -0.1 0.0 0.7 -0.0 0.0 1.1 1.6 0.4 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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 National Income 12430.8 12124.5 12739.5 13395.7 13971.6 14542.4 14324.5 14462.7 14607.9 14774.3 14651.0 1

 2 Compensation of employees 8079.2 7787.8 7967.3 8278.5 8611.6 8859.4 8748.3 8835.5 8888.3 8965.3 9040.2 2

 3 Wages and other labor income 7607.9 7329.7 7497.9 7784.1 8097.3 8328.1 8222.5 8305.2 8355.9 8428.9 8498.2 3

 4 Employer social insurance contributions 471.3 458.1 469.4 494.4 514.3 531.2 525.8 530.2 532.4 536.4 542.0 4

 Proprietors’ income with inventory

 5 valuation and capital consumption adjustments 1026.5 973.0 1032.7 1155.1 1224.9 1348.8 1334.6 1341.5 1360.7 1358.5 1366.6 5

 Rental income of persons (with capital

 6 consumption adjustment) 262.1 333.7 402.8 484.4 541.2 590.6 574.9 587.7 596.6 603.2 611.1 6

 Corporate profits with inventory

 7 valuation and capital consumption adjustments 1285.1 1392.6 1740.6 1877.7 2009.5 2102.1 2020.6 2087.4 2126.6 2173.7 1960.3 7

 Corporate profits with inventory

 8 valuation adjustment 1345.5 1474.8 1793.8 1791.3 2180.0 2263.4 2180.0 2248.6 2288.2 2336.8 2305.9 8

 9 Profits before tax 1382.4 1468.2 1834.8 1847.4 2190.0 2263.7 2193.1 2239.7 2286.6 2335.6 2337.0 9

 10 Domestic nonfinancial 880.3 752.5 1034.3 1026.7 1293.7 1335.7 1307.7 1324.7 1345.2 1365.1 1460.0 10

 11 Domestic financial 95.4 362.9 405.3 384.1 477.4 512.0 486.9 511.9 521.6 527.7 474.6 11

 12 Rest of the world 406.7 352.8 395.2 436.6 418.9 416.0 398.5 403.1 419.8 442.7 402.3 12

 Less:

 13 Taxes on corporate income 309.1 269.4 370.6 374.2 434.8 418.9 408.2 418.2 417.8 431.1 457.3 13

 14 Domestic nonfinancial 227.4 177.8 220.6 222.3 256.9 266.9 266.6 264.1 263.7 273.2 287.0 14

 15 Domestic financial 81.7 91.6 150.0 151.9 177.8 152.0 141.7 154.1 154.1 158.0 170.2 15

 Equals:

 16 Profits after tax 1073.3 1198.7 1464.3 1473.1 1755.2 1844.9 1784.8 1821.4 1868.7 1904.5 1879.7 16

 17 Net dividends 808.6 568.7 563.9 701.6 770.3 902.0 763.8 1037.3 858.3 948.8 859.8 17

 18 Domestic nonfinancial 474.2 351.7 375.5 440.3 478.8 501.6 483.3 463.3 577.2 482.6 468.6 18

 19 Domestic financial 153.9 105.1 67.1 104.8 134.8 260.6 133.3 411.4 192.2 305.3 170.7 19

 20 Rest of the world 180.5 111.9 121.4 156.4 156.8 139.9 147.2 162.6 88.9 160.9 220.6 20

 21 Undistributed profits 264.7 630.0 900.3 771.6 984.9 942.8 1021.0 784.2 1010.4 955.7 1019.9 21

 22 Domestic nonfinancial 178.7 222.9 438.3 364.1 558.0 567.2 557.8 597.3 504.2 609.4 704.4 22

 23 Domestic financial -140.2 166.1 188.3 127.3 164.7 99.5 212.0 -53.7 175.3 64.5 133.7 23

 24 Rest of the world 226.2 240.9 273.8 280.1 262.2 276.1 251.3 240.5 330.9 281.8 181.7 24

 25 Inventory valuation adjustment -37.0 6.7 -41.0 -56.0 -10.0 -0.3 -13.0 8.9 1.7 1.2 -31.1 25

 26 Capital consumption adjustment -60.4 -82.2 -53.3 86.4 -170.5 -161.3 -159.5 -161.1 -161.6 -163.1 -345.6 26

 27 Domestic nonfinancial -29.1 -41.1 -15.2 114.9 -115.1 -105.8 -104.3 -105.4 -106.0 -107.4 -272.3 27

 28 Domestic financial -31.4 -41.2 -38.1 -28.5 -55.4 -55.6 -55.2 -55.7 -55.7 -55.7 -73.2 28

 29 Net interest and miscellaneous payments 693.4 563.1 489.4 456.9 439.6 469.2 477.0 444.0 467.2 488.6 481.8 29

 30 Taxes on production and imports 1041.9 1026.1 1057.1 1097.1 1122.9 1146.7 1140.7 1138.8 1149.0 1158.3 1172.6 30

 31 Less: Subsidies 52.6 58.3 55.9 60.0 57.3 58.7 58.0 58.9 59.1 58.7 56.8 31

 32 Business current transfer payments (net) 116.4 127.2 128.5 129.6 106.9 124.4 121.9 125.8 120.1 129.9 120.8 32

 33 Current surplus of government enterprises -21.2 -20.6 -22.9 -23.8 -27.7 -40.1 -35.5 -39.0 -41.4 -44.3 -45.5 33

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 34 National Income, from line 1 above 12430.8 12124.5 12739.5 13395.7 13971.6 14542.4 14324.5 14462.7 14607.9 14774.3 14651.0 34

 Plus:

 35 Private consumption of fixed capital 1936.9 1925.7 1923.5 1974.4 2049.3 2141.4 2103.3 2128.5 2153.5 2180.5 2208.0 35

 36 Government consumption of fixed capital 426.5 442.7 458.1 478.1 493.6 505.1 500.5 503.4 506.1 510.5 513.2 36

 37 Statistical discrepancy 99.0 72.2 43.1 -53.6 -17.0 -131.4 -155.6 -186.8 -91.7 -91.8 -36.0 37

 Less:

 38 Net U.S. income receipts from rest of the world 173.0 147.2 206.0 260.8 252.8 257.8 237.4 246.8 262.9 284.0 234.8 38

 Equals:

 39 Gross Domestic Product 14720.3 14417.9 14958.3 15533.8 16244.6 16799.7 16535.3 16661.0 16912.9 17089.6 17101.3 39

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 2281.9 2071.7 2255.0 2461.4 2672.2 3015.8 2871.5 2993.4 3051.5 3146.8 2906.3 1

 2 Net saving -81.5 -296.6 -126.6 8.8 129.3 369.2 267.6 361.6 391.8 455.8 185.2 2

 3 Net private saving 718.7 1225.1 1440.2 1470.2 1491.7 1342.4 1350.5 1212.3 1467.8 1339.1 1151.4 3

 4 Domestic business 167.3 554.4 806.0 801.9 804.3 781.2 848.5 631.9 850.5 793.8 643.2 4

 5 Nonfinancial corporate business 296.7 382.1 598.6 648.8 647.8 690.4 670.0 682.7 700.1 709.0 631.6 5

 6 Financial business -129.4 172.3 207.4 153.1 156.5 90.7 178.6 -50.7 150.3 84.7 11.6 6

 7 Households and institutions 551.3 670.7 634.2 668.2 687.4 561.3 502.0 580.4 617.3 545.4 508.2 7

 8 Net government saving -800.2 -1521.7 -1566.8 -1461.3 -1362.3 -973.2 -1082.9 -850.7 -1075.9 -883.4 -966.2 8

 9 Federal -635.1 -1249.8 -1329.5 -1248.3 -1109.7 -752.3 -853.1 -653.1 -850.0 -653.0 -728.9 9

 10 State and local -165.1 -271.9 -237.3 -213.1 -252.7 -220.9 -229.8 -197.6 -226.0 -230.3 -237.3 10

 11 Consumption of fixed capital 2363.4 2368.4 2381.6 2452.6 2542.9 2646.6 2603.8 2631.9 2659.6 2691.0 2721.1 11

 12 Private 1936.9 1925.7 1923.5 1974.4 2049.3 2141.4 2103.3 2128.5 2153.5 2180.5 2208.0 12

 13 Domestic business 1522.3 1522.4 1523.0 1571.6 1639.4 1707.5 1680.6 1698.9 1715.8 1734.6 1752.8 13

 14 Nonfinancial corporate business 1093.9 1092.0 1094.6 1135.8 1188.2 1237.8 1218.5 1231.6 1243.8 1257.4 1270.1 14

 15 Nonfinancial noncorporate business 254.5 253.0 251.8 256.8 264.5 275.0 270.5 273.4 276.4 279.7 283.4 15

 16 Financial business 173.9 177.4 176.7 179.0 186.6 194.6 191.5 193.9 195.6 197.5 199.4 16

 17 Households and institutions 414.6 403.3 400.5 402.9 409.9 434.0 422.7 429.6 437.7 445.9 455.1 17

 18 Government 426.5 442.7 458.1 478.1 493.6 505.1 500.5 503.4 506.1 510.5 513.2 18

 19 Federal 226.3 234.5 245.3 256.5 262.3 267.5 265.6 266.8 267.8 269.9 270.9 19

 20 State and local 200.2 208.2 212.7 221.7 231.4 237.6 234.9 236.6 238.3 240.6 242.3 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 2380.9 2144.0 2298.1 2407.7 2655.2 2884.3 2715.9 2806.7 2959.8 3055.0 2870.4 21

 22 Gross domestic investment 3059.4 2525.1 2752.6 2864.7 3094.2 3276.3 3153.9 3225.4 3352.3 3373.6 3283.5 22

 23 Gross private domestic investment 2424.8 1878.1 2100.8 2232.1 2475.2 2670.0 2555.1 2621.0 2738.0 2766.0 2694.8 23

 24 Domestic business 1844.4 1410.0 1648.4 1775.4 1977.1 2108.1 2017.4 2063.4 2158.4 2193.2 2128.3 24

 25 Nonfinancial corporate business 1341.1 1002.9 1244.7 1344.4 1509.9 1572.5 1495.1 1534.1 1616.1 1644.8 1591.4 25

 26 Nonfinancial noncorporate business 307.1 240.2 241.0 255.8 273.8 330.4 319.2 326.1 336.6 339.5 329.2 26

 27 Financial business 196.2 166.9 162.8 175.2 193.4 205.2 203.1 203.2 205.6 208.9 207.6 27

 28 Households and institutions 580.4 468.1 452.4 456.7 498.1 561.9 537.7 557.6 579.6 572.8 566.5 28

 29 Gross government investment 634.6 647.0 651.8 632.6 619.0 606.3 598.8 604.4 614.4 607.6 588.8 29

 30 Federal 275.8 284.0 300.0 295.4 284.0 274.8 272.7 276.6 278.8 271.3 262.1 30

 31 State and local 358.8 363.0 351.9 337.2 334.9 331.5 326.1 327.8 335.6 336.3 326.6 31

 32 Capital account transactions (net) (2) -5.4 0.6 0.7 1.7 -6.6 -0.3 0.5 0.4 -0.6 -1.2 0.0 32

 33 Private -53.2 -121.4 -58.5 -47.4 -26.0 3.4 -3.3 1.8 4.5 10.5 5.3 33

 34 Domestic business -49.9 -83.4 -29.4 -41.3 -12.4 -7.0 -10.7 -6.6 -6.0 -4.7 -8.0 34

 35 Nonfinancial corporate business 13.9 44.6 19.8 -7.3 -17.1 -7.0 -10.7 -6.6 -6.0 -4.7 -8.0 35

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

 37 Financial business -60.5 -121.9 -41.5 -32.4 9.6 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Households and institutions -3.3 -38.1 -29.1 -6.2 -13.6 10.4 7.4 8.4 10.6 15.3 13.3 38

 39 Government 47.8 122.0 59.2 49.1 19.5 -3.7 3.8 -1.4 -5.2 -11.8 -5.3 39

 40 Federal 97.2 177.4 125.3 112.9 83.3 57.7 65.2 57.6 60.3 47.7 55.1 40

 41 State and local -49.4 -55.4 -66.2 -63.8 -63.9 -61.4 -61.4 -59.1 -65.5 -59.5 -60.4 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -673.1 -381.7 -455.2 -458.6 -432.4 -391.7 -438.5 -419.1 -391.9 -317.4 -413.2 42

 43 Private 382.9 1466.3 1364.6 1206.3 1074.7 679.0 746.4 531.2 787.1 651.4 623.3 43

 44 Domestic business -5.8 822.4 753.2 585.7 462.0 256.1 366.8 87.3 322.2 248.1 239.8 44

 45 Nonfinancial corporate business (3) 134.7 498.9 471.8 393.9 326.2 231.3 248.5 200.0 242.2 234.6 282.3 45

 46 Nonfinancial noncorporate business -49.3 18.8 18.6 2.5 -4.3 -55.3 -48.6 -52.6 -60.3 -59.8 -45.9 46

 47 Financial business -91.2 304.7 262.8 189.3 140.2 80.1 167.0 -60.1 140.3 73.3 3.4 47

 48 Households and institutions 388.8 643.9 611.4 620.6 612.7 422.9 379.6 443.9 464.8 403.2 383.5 48

 49 Government -1056.1 -1848.0 -1819.8 -1664.9 -1507.1 -1070.7 -1184.9 -950.3 -1179.0 -968.7 -1036.5 49

 50 Federal -781.8 -1476.7 -1509.5 -1400.1 -1214.8 -817.3 -925.4 -720.5 -921.3 -702.1 -775.3 50

 51 State and local -274.3 -371.4 -310.3 -264.8 -292.4 -253.4 -259.6 -229.8 -257.7 -266.6 -261.2 51

 52 Statistical discrepancy (line 21 less line 1) 99.0 72.2 43.1 -53.6 -17.0 -131.4 -155.6 -186.8 -91.7 -91.8 -36.0 52

 Addenda:

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

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

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

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

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Capital transfers paid, by sector 193.5 272.2 186.7 137.9 139.8 102.5 106.1 99.5 106.2 98.4 101.5 1

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

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

 4 Disaster-related insurance benefits 7.6 0.0 0.0 0.0 14.3 0.0 0.0 0.0 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 0.0 40.4 25.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

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

 8 By government 145.9 206.9 141.4 123.4 98.7 77.9 83.4 76.2 81.1 71.0 76.1 8

 9 Federal 145.9 206.9 141.4 123.4 98.7 77.9 83.4 76.2 81.1 71.0 76.1 9

 10 Investment grants to state and local govts. 57.6 63.4 72.1 69.0 66.5 65.5 66.2 63.2 69.4 63.1 63.8 10

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

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

 13 Other capital transfers paid to business 0.1 8.1 12.7 8.0 8.2 5.7 9.6 5.7 4.5 2.8 7.4 13

 14 Other capital transfers paid to persons 16.9 12.9 14.5 12.4 10.6 6.4 7.2 6.9 6.8 4.6 4.5 14

 15 Capital transfers paid to the rest of the world (net) 0.8 0.6 0.7 1.6 1.1 0.4 0.4 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 33.9 24.9 19.5 14.5 19.0 24.6 22.6 23.3 25.1 27.5 25.4 18

 19 Estate and gift taxes, federal 28.3 20.6 15.1 9.6 14.1 19.2 17.6 17.8 19.6 21.9 19.7 19

 20 Estate and gift taxes, state and local 5.6 4.3 4.4 4.9 4.9 5.4 5.0 5.4 5.5 5.6 5.6 20

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

 22 Disaster-related insurance benefits 6.2 0.0 0.0 0.0 7.7 0.0 0.0 0.0 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 193.5 272.2 186.7 137.9 139.8 102.5 106.1 99.5 106.2 98.4 101.5 24

 25 By private business 75.0 130.0 54.2 40.4 26.3 5.7 9.6 5.7 4.5 2.8 7.4 25

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

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

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

 29 Nonfinancial corporations 3.7 2.1 4.9 6.4 16.7 5.7 9.6 5.7 4.5 2.8 7.4 29

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

 31 Other 0.1 2.1 4.9 6.4 8.1 5.7 9.6 5.7 4.5 2.8 7.4 31

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

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

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

 35 By government 91.5 88.3 91.8 83.5 88.2 90.1 88.8 86.5 94.5 90.6 89.2 35

 36 Federal 28.3 20.6 15.1 9.6 14.1 19.2 17.6 17.8 19.6 21.9 19.7 36

 37 Estate and gift taxes paid by persons 28.3 20.6 15.1 9.6 14.1 19.2 17.6 17.8 19.6 21.9 19.7 37

 38 State and local 63.2 67.7 76.7 73.9 74.1 70.9 71.3 68.6 74.9 68.7 69.5 38

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

 40 Estate and gift taxes paid by persons 5.6 4.3 4.4 4.9 4.9 5.4 5.0 5.4 5.5 5.6 5.6 40

 41 Investment grants paid by federal government 57.6 63.4 72.1 69.0 66.5 65.5 66.2 63.2 69.4 63.1 63.8 41

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

 43 By persons 26.2 53.3 40.1 12.4 24.1 6.4 7.2 6.9 6.8 4.6 4.5 43

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

 45 Other 16.9 53.3 40.1 12.4 10.6 6.4 7.2 6.9 6.8 4.6 4.5 45

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

 47 Capital transfers paid by U.S. government 0.8 0.6 0.7 1.6 1.1 0.4 0.4 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) -67.5 -89.6 -28.3 -40.4 -12.0 -5.7 -9.6 -5.7 -4.5 -2.8 -7.4 49

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

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

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

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

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

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

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

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

 58 Nonfinancial corporations (lines 6-29) -3.7 38.3 20.9 -6.4 -16.7 -5.7 -9.6 -5.7 -4.5 -2.8 -7.4 58

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

 60 By government (lines 8-35) 54.4 118.6 49.6 39.9 10.6 -12.2 -5.4 -10.3 -13.4 -19.6 -13.1 60

 61 Federal (lines 9-36) 117.6 186.3 126.3 113.8 84.7 58.7 65.8 58.4 61.5 49.1 56.4 61

 62 State and local (lines 16-38) -63.2 -67.7 -76.7 -73.9 -74.1 -70.9 -71.3 -68.6 -74.9 -68.7 -69.5 62

 63 By persons (lines 18-43) 7.7 -28.4 -20.6 2.1 -5.1 18.2 15.5 16.3 18.3 22.8 20.8 63

 64 By the rest of the world (lines 21-46) 5.4 -0.6 -0.7 -1.6 6.6 -0.4 -0.4 -0.4 -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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 1142.3 778.3 894.9 1226.3 1297.5 1352.4 1525.5 1346.8 691.3 1846.2 1154.8 1

 2 Foreign deposits -23.7 -6.6 -0.6 -2.8 -1.8 3.4 5.8 18.9 -1.2 -10.1 -19.2 2

 3 Checkable deposits and currency 180.5 116.0 36.1 326.0 174.0 116.6 234.9 -69.5 -3.5 304.6 528.9 3

 4 Time and savings deposits 254.4 101.2 161.9 375.6 413.8 206.6 93.2 244.0 282.0 207.1 574.3 4

 5 Money market fund shares 235.8 -269.6 -179.7 -34.3 -1.8 25.0 41.1 98.5 57.1 -96.6 99.9 5

 6 Securities -113.9 531.4 115.9 -74.7 168.5 330.9 754.2 282.1 -290.7 578.2 -666.2 6

 7 Open market paper -101.3 16.7 -1.5 -1.8 -0.6 -3.8 -3.2 -0.8 -0.8 -10.4 -2.9 7

 8 Treasury securities 147.9 534.3 322.5 -228.6 214.9 -213.3 -80.0 -141.7 -247.3 -384.4 -354.7 8

 9 Agency- and GSE-backed securities 238.9 -671.0 -3.5 -11.0 -128.7 -83.0 -282.6 -64.6 -83.4 98.6 -319.0 9

 10 Municipal securities 46.9 107.3 44.3 -63.4 -142.4 -39.4 21.1 5.7 -80.5 -103.8 -110.8 10

 11 Corporate and foreign bonds -83.9 211.8 -289.1 203.4 38.3 106.2 -158.2 -156.3 99.1 640.1 41.7 11

 12 Corporate equities (2) -313.8 -1.3 -191.4 -236.9 -248.7 -150.8 249.5 -63.3 -684.7 -104.9 -440.1 12

 13 Mutual fund shares -41.1 339.4 232.6 263.1 435.0 713.9 1007.2 701.6 705.3 441.4 518.8 13

 14 Life insurance reserves 59.9 24.6 6.2 73.9 -26.5 28.7 2.0 22.8 73.8 16.0 50.9 14

 15 Pension entitlements 540.2 413.5 598.3 484.9 501.0 507.5 453.9 468.2 512.6 595.3 530.3 15

 16 Miscellaneous and other assets 2.0 -126.4 167.2 81.6 79.2 140.3 -52.1 289.3 68.7 255.2 61.3 16

 17 Gross investment in nonfinancial assets 1920.7 1669.5 1689.9 1765.4 1887.0 2060.7 2004.6 2048.1 2097.9 2092.2 2076.5 17

 18 Residential fixed investment 509.0 386.9 376.5 376.5 420.5 489.1 463.7 486.0 507.8 498.8 493.6 18

 19 Nonresidential fixed investment 379.0 330.0 319.0 338.7 356.3 365.9 355.7 363.1 369.2 375.8 375.3 19

 20 Consumer durables 1044.2 970.8 1005.0 1061.2 1123.5 1179.8 1162.9 1174.7 1190.1 1191.7 1188.5 20

 21 Nonproduced nonfinancial assets -11.0 -9.7 -8.5 -8.3 -8.4 -7.8 -8.1 -7.9 -7.7 -7.6 -7.5 21

 22 Inventories -0.4 -8.5 -2.2 -2.7 -4.9 33.6 30.5 32.2 38.5 33.5 26.6 22

 23 Consumption of fixed capital 1578.6 1576.8 1570.4 1599.0 1637.5 1672.9 1644.1 1663.7 1682.5 1701.3 1721.5 23

 24 Residential fixed investment 395.6 377.9 372.0 369.4 371.7 388.4 381.5 386.0 390.6 395.5 400.4 24

 25 Nonresidential fixed investment 273.4 278.4 280.3 290.2 302.8 321.0 312.1 317.3 323.9 330.6 338.6 25

 26 Consumer durables 909.6 920.6 918.1 939.4 963.1 963.6 950.6 960.4 968.1 975.2 982.5 26

 27 Net investment in nonfinancial assets (3) 342.1 92.6 119.4 166.4 249.5 387.8 360.5 384.4 415.3 390.9 355.0 27

 28 Residential fixed investment 113.3 9.0 4.5 7.1 48.9 100.7 82.2 100.0 117.3 103.4 93.2 28

 29 Nonresidential fixed investment 105.6 51.6 38.7 48.4 53.6 45.0 43.6 45.8 45.3 45.2 36.7 29

 30 Consumer durables 134.6 50.3 86.9 121.9 160.4 216.3 212.3 214.3 222.0 216.4 206.0 30

 31 Nonproduced nonfinancial assets -11.0 -9.7 -8.5 -8.3 -8.4 -7.8 -8.1 -7.9 -7.7 -7.6 -7.5 31

 32 Inventories -0.4 -8.5 -2.2 -2.7 -4.9 33.6 30.5 32.2 38.5 33.5 26.6 32

 33 Net increase in liabilities 462.3 9.7 -147.7 26.9 375.9 384.6 129.5 389.8 689.0 330.2 454.3 33

 34 Home mortgages 53.5 36.1 -155.1 -84.0 -73.5 -1.4 -98.7 15.9 177.2 -99.9 -77.4 34

 35 Other mortgages 230.8 31.8 -32.9 0.7 -4.0 74.0 -9.3 98.1 97.8 109.3 66.9 35

 36 Consumer credit 34.9 -103.6 -25.3 108.5 169.7 173.8 179.0 162.9 190.6 162.6 203.3 36

 37 Policy loans 5.9 0.7 3.4 2.4 1.4 0.9 -0.0 2.7 1.6 -0.6 0.9 37

 38 Security credit -160.7 38.1 75.2 -39.3 64.9 35.4 16.4 -21.2 44.6 101.9 50.0 38

 39 Other liabilities 297.9 6.6 -13.0 38.5 217.5 101.9 42.0 131.4 177.2 56.9 210.7 39

 40 Net capital transfers paid (4) 4.4 -34.4 -28.4 0.6 -10.0 18.2 15.5 16.3 18.3 22.8 20.8 40

 41 Personal saving, FOF concept (FOF) 1026.4 826.8 1133.7 1366.3 1161.0 1373.9 1772.0 1357.7 436.0 1929.7 1076.2 41

 42 - Net investment in consumer durables 134.6 50.3 86.9 121.9 160.4 216.3 212.3 214.3 222.0 216.4 206.0 42

 43 - Government insurance and pension fund reserves (5) -0.6 0.5 -1.7 -0.4 -1.4 -1.2 -1.9 -0.4 -2.7 -0.0 -2.0 43

 44 = Personal saving, NIPA concept (FOF) (6) 892.5 776.1 1048.6 1244.9 1002.0 1158.8 1561.5 1143.7 216.6 1713.3 872.2 44

 45 Personal saving, NIPA concept (NIPA) 551.3 670.7 634.2 668.2 687.4 561.3 502.0 580.4 617.3 545.4 508.2 45

 46 Difference 341.1 105.4 414.4 576.7 314.6 597.6 1059.6 563.4 -400.7 1167.9 364.0 46

 Memo:

 47 Disposable personal income 10995.4 10937.2 11243.7 11787.4 12245.8 12476.2 12296.9 12417.4 12567.7 12622.8 12719.0 47

 Personal saving as a percentage of disposable personal income:

 48 FOF concept (FOF data) (line 41) 9.3 7.6 10.1 11.6 9.5 11.0 14.4 10.9 3.5 15.3 8.5 48

 49 NIPA concept (FOF data) (line 44) 8.1 7.1 9.3 10.6 8.2 9.3 12.7 9.2 1.7 13.6 6.9 49

 50 NIPA concept (NIPA data) (line 45) 5.0 6.1 5.6 5.7 5.6 4.5 4.1 4.7 4.9 4.3 4.0 50

 51 Difference (line 46) 3.1 1.0 3.7 4.9 2.6 4.8 8.6 4.5 -3.2 9.3 2.9 51

(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 13), life insurance reserves (line 14), and pension entitlements (line 15).

(3) Line 17 less line 23.

(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 44 and 45 are conceptually equivalent but measure saving using different data. Line 44 is net acquisition of financial assets net of government insurance and pension fund reserves (line 1 less line 43) plus

 net investment in nonfinancial assets net of consumer durables (line 27 less line 42) less net increase in liabilities (line 33) plus net capital transfers paid (line 40). Personal savings, NIPA concept (NIPA) (line 45)

 is disposable personal income (line 47) less personal outlays (table F.100, line 4).
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L.10 Assets and Liabilities of the Personal Sector (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 42894.9 46734.0 50655.0 51382.9 55232.6 61658.4 57179.1 57889.0 59569.7 61658.4 62284.3 1

 2 Foreign deposits 56.9 50.2 49.7 46.9 45.1 48.4 46.5 51.3 51.0 48.4 43.6 2

 3 Checkable deposits and currency 814.3 930.3 955.1 1281.1 1441.5 1558.1 1463.6 1445.2 1434.9 1558.1 1651.4 3

 4 Time and savings deposits 6597.4 6684.1 6812.2 7187.8 7556.4 7763.0 7604.5 7617.5 7704.8 7763.0 7927.4 4

 5 Money market fund shares 1656.3 1386.7 1207.0 1187.9 1186.1 1211.1 1134.5 1127.8 1170.0 1211.1 1172.1 5

 6 Securities 14214.2 17056.5 19278.6 18809.5 21125.3 25536.7 22577.6 23022.7 24192.4 25536.7 25717.0 6

 7 Open market paper 6.0 22.7 21.1 19.4 18.8 15.0 18.0 17.8 17.6 15.0 14.3 7

 8 Treasury securities 188.7 859.7 1134.4 715.6 941.0 935.4 966.2 1009.0 980.8 935.4 841.2 8

 9 Agency- and GSE-backed securities 1057.7 358.3 353.7 304.6 154.2 125.9 112.9 124.6 109.7 125.9 14.1 9

 10 Municipal securities 1725.8 1833.1 1877.4 1814.0 1671.6 1632.2 1681.9 1675.8 1650.8 1632.2 1609.6 10

 11 Corporate and foreign bonds 1946.5 2324.6 2248.3 2379.0 2468.8 2578.0 2394.8 2363.5 2409.4 2578.0 2626.2 11

 12 Corporate equities (2) 5931.0 7496.1 8995.3 9025.4 10412.8 13309.6 11456.2 11686.6 12472.2 13309.6 13502.0 12

 13 Mutual fund shares 3306.7 4115.8 4600.2 4502.9 5408.7 6890.1 5898.3 6095.7 6501.9 6890.1 7058.9 13

 14 Life insurance reserves 1049.8 1109.2 1137.2 1203.6 1186.1 1242.2 1194.8 1203.0 1227.7 1242.2 1256.7 14

 15 Pension entitlements 14071.9 15209.5 16751.6 17126.1 18093.8 19563.8 18572.2 18766.0 19115.6 19563.8 19766.4 15

 16 Life insurance companies 2219.2 2350.4 2568.5 2601.7 2788.3 3041.7 2876.2 2900.3 2955.4 3041.7 3072.2 16

 17 Private pension funds 5295.7 5977.0 6626.9 6679.0 7158.1 8010.2 7458.3 7558.8 7762.0 8010.2 8100.9 17

 18 Governments 6557.0 6882.0 7556.2 7845.4 8147.3 8511.9 8237.7 8306.9 8398.2 8511.9 8593.3 18

 19 Miscellaneous and other assets 4339.5 4218.7 4385.2 4465.5 4532.6 4675.8 4521.6 4593.7 4613.3 4675.8 4691.8 19

 20 Total liabilities 20072.6 19779.5 19440.9 19319.6 19486.2 19778.2 19441.7 19511.5 19673.1 19778.2 19824.7 20

 21 Home mortgages 11119.9 10917.0 10430.3 10192.3 9971.2 9877.1 9919.2 9896.0 9906.6 9877.1 9840.9 21

 22 Other mortgages 2529.9 2561.7 2528.7 2529.5 2525.5 2599.5 2523.2 2547.7 2572.2 2599.5 2616.2 22

 23 Consumer credit 2650.6 2552.8 2647.4 2755.9 2923.6 3097.4 2923.8 2966.4 3036.6 3097.4 3103.6 23

 24 Policy loans 120.4 121.1 124.5 126.9 128.3 129.2 128.3 128.9 129.3 129.2 129.4 24

 25 Security credit 164.8 203.0 278.2 238.9 303.7 339.2 307.9 302.6 313.7 339.2 351.7 25

 26 Other liabilities 3487.0 3423.9 3431.8 3476.1 3633.9 3735.8 3639.4 3669.9 3714.8 3735.8 3782.9 26

(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 fund shares (line 13), life insurance reserves (line 14), and pension entitlements (line 15).
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F.100 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Personal income 12430.6 12082.1 12435.2 13191.3 13743.8 14134.7 13925.9 14086.2 14225.3 14301.3 14417.3 1

 2 - Personal current taxes 1435.2 1144.9 1191.5 1404.0 1498.0 1658.5 1629.0 1668.8 1657.6 1678.5 1698.3 2

 3 = Disposable personal income 10995.4 10937.2 11243.7 11787.4 12245.8 12476.2 12296.9 12417.4 12567.7 12622.8 12719.0 3

 4 - Personal outlays 10444.0 10266.5 10609.5 11119.1 11558.4 11914.9 11794.9 11837.0 11950.4 12077.4 12210.8 4

 5 = Personal saving, NIPA (2) 551.3 670.7 634.2 668.2 687.4 561.3 502.0 580.4 617.3 545.4 508.2 5

 6 + Government insurance and pension reserves (3) -0.6 0.5 -1.7 -0.4 -1.4 -1.2 -1.9 -0.4 -2.7 -0.0 -2.0 6

 7 + Net investment in consumer durables 134.6 50.3 86.9 121.9 160.4 216.3 212.3 214.3 222.0 216.4 206.0 7

 8 + Consumption of fixed capital 1324.2 1323.8 1318.6 1342.2 1373.0 1397.5 1373.3 1390.0 1405.8 1421.1 1437.7 8

 9 - Net capital transfers paid (4) 7.7 -28.4 -20.6 2.1 -5.1 18.2 15.5 16.3 18.3 22.8 20.8 9

 10 = Gross saving less net capital transfers paid 2001.8 2073.6 2058.5 2129.8 2224.5 2155.6 2070.3 2168.0 2224.2 2160.1 2129.1 10

 11 Gross investment 2342.9 2179.1 2473.0 2706.4 2539.1 2753.2 3129.8 2731.3 1823.5 3328.0 2493.1 11

 12 Capital expenditures 1613.6 1429.3 1448.9 1509.6 1613.2 1733.9 1692.5 1724.4 1762.0 1756.9 1747.5 12

 13 Residential 425.3 321.0 318.3 317.1 354.3 413.9 392.1 411.1 429.9 422.3 418.1 13

 14 Consumer durable goods 1044.2 970.8 1005.0 1061.2 1123.5 1179.8 1162.9 1174.7 1190.1 1191.7 1188.5 14

 15 Nonprofit nonresidential 155.1 147.1 134.1 139.6 143.8 148.1 145.7 146.5 149.7 150.4 148.4 15

 16 Nonproduced nonfinancial assets -11.0 -9.7 -8.5 -8.3 -8.4 -7.8 -8.1 -7.9 -7.7 -7.6 -7.5 16

 17 Net lending (+) or net borrowing (-) 729.3 749.8 1024.1 1196.9 925.9 1019.2 1437.3 1006.9 61.5 1571.1 745.6 17

 18 Net acquisition of financial assets 739.7 813.3 916.9 1137.5 1189.0 1248.8 1531.7 1200.6 556.1 1706.8 1073.4 18

 19 Foreign deposits -23.7 -6.6 -0.6 -2.8 -1.8 3.4 5.8 18.9 -1.2 -10.1 -19.2 19

 20 Checkable deposits and currency 176.7 101.1 38.9 328.3 159.4 106.9 234.4 -82.6 -15.3 291.2 523.5 20

 21 Time and savings deposits 255.6 106.0 159.0 371.8 408.7 197.4 90.7 232.5 271.2 195.3 568.3 21

 22 Money market fund shares 234.7 -267.9 -182.8 -35.1 -2.9 23.1 40.6 96.0 54.8 -99.1 98.7 22

 23 Credit market instruments 269.2 186.9 50.2 -107.5 -43.8 -241.5 -510.0 -367.6 -325.1 236.6 -754.2 23

 24 Open market paper -101.3 16.7 -1.5 -1.8 -0.6 -3.8 -3.2 -0.8 -0.8 -10.4 -2.9 24

 25 Treasury securities 147.9 534.3 322.5 -228.6 214.9 -213.3 -80.0 -141.7 -247.3 -384.4 -354.7 25

 26 Agency- and GSE-backed securities 238.9 -671.0 -3.5 -11.0 -128.7 -83.0 -282.6 -64.6 -83.4 98.6 -319.0 26

 27 Municipal securities 47.3 107.1 43.7 -63.5 -142.5 -39.5 21.0 5.5 -80.6 -104.0 -110.9 27

 28 Corporate and foreign bonds -83.9 211.8 -289.1 203.4 38.3 106.2 -158.2 -156.3 99.1 640.1 41.7 28

 29 Other loans and advances (5) 12.2 -5.3 -0.6 -2.8 -2.5 5.0 7.1 5.4 1.9 5.6 5.0 29

 30 Mortgages 1.1 -0.9 -10.9 0.7 -13.9 -6.5 -6.8 -7.4 -6.5 -5.4 -7.9 30

 31 Consumer credit (student loans) 7.1 -5.8 -10.4 -3.9 -8.8 -6.5 -7.4 -7.6 -7.4 -3.6 -5.5 31

 32 Corporate equities (6) -313.8 -1.3 -191.4 -236.9 -248.7 -150.8 249.5 -63.3 -684.7 -104.9 -440.1 32

 33 Mutual fund shares -41.1 339.4 232.6 263.1 435.0 713.9 1007.2 701.6 705.3 441.4 518.8 33

 34 Security credit -179.6 -35.7 23.5 0.9 42.0 58.5 -53.9 202.0 -10.1 95.9 13.0 34

 35 Life insurance reserves 59.9 24.6 6.2 73.9 -26.5 28.7 2.0 22.8 73.8 16.0 50.9 35

 36 Pension entitlements (7) 540.2 413.5 598.3 484.9 501.0 507.5 453.9 468.2 512.6 595.3 530.3 36

 37 Equity in noncorporate business -293.7 -81.5 174.5 -73.8 -28.2 -22.1 17.1 -36.9 -51.2 -17.5 -32.5 37

 38 Miscellaneous assets 55.1 34.9 8.3 70.7 -5.1 23.9 -5.8 8.9 26.0 66.6 15.7 38

 39 Net increase in liabilities 10.4 63.5 -107.2 -59.4 263.1 229.6 94.3 193.7 494.6 135.6 327.8 39

 40 Credit market instruments 145.7 -11.1 -155.6 -20.9 193.6 190.1 72.8 206.5 452.6 28.6 267.1 40

 41 Home mortgages (8) 93.7 66.0 -182.3 -68.7 -75.2 -7.4 -94.9 7.2 163.4 -105.2 -83.8 41

 42 Consumer credit 34.9 -103.6 -25.3 108.5 169.7 173.8 179.0 162.9 190.6 162.6 203.3 42

 43 Municipal securities 9.3 5.9 -2.2 -7.8 -14.5 -13.1 -6.5 -14.6 -13.4 -18.1 -1.0 43

 44 Depository institution loans n.e.c. (9) 4.6 28.3 50.1 -54.9 110.8 30.0 -8.5 42.6 109.9 -23.8 145.3 44

 45 Other loans and advances 6.2 0.5 2.4 1.9 1.2 2.0 0.5 5.2 0.6 1.7 -0.0 45

 46 Commercial mortgages -3.0 -8.3 1.7 0.0 1.6 4.8 3.2 3.2 1.6 11.2 3.2 46

 47 Security credit -160.7 38.1 75.2 -39.3 64.9 35.4 16.4 -21.2 44.6 101.9 50.0 47

 48 Trade payables 22.2 41.4 -29.4 1.2 4.0 1.0 1.0 1.0 1.0 1.0 4.0 48

 49 Deferred and unpaid life insurance premiums 3.2 -4.9 2.7 -0.4 0.6 3.0 4.1 7.4 -3.7 4.2 6.7 49

 50 Discrepancy -341.1 -105.4 -414.4 -576.7 -314.6 -597.6 -1059.6 -563.4 400.7 -1167.9 -364.0 50

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

 outstandings of nonprofit organizations.

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

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

(4) Table F.9, line 63.

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

(6) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 33) and life insurance reserves (line 35), and pension entitlements (line 36).

(7) Includes public and private defined benefit and defined contribution pension plans and annuities, including those in IRAs, at life insurance companies. Excludes social security.

(8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 24.

(9) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.108, line 21.
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F.101 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Income before taxes 2021.7 1842.4 2201.7 2338.8 2692.4 2874.2 2827.0 2854.9 2897.5 2917.3 3023.4 1

 2 Gross saving less net capital transfers paid 1650.9 1693.8 1931.4 2048.3 2119.8 2204.8 2143.6 2205.3 2196.2 2274.0 2113.6 2

 3 Gross investment 673.1 1818.5 1644.6 1195.1 1261.8 1611.3 1621.0 1652.1 1449.4 1722.9 1695.0 3

 4 Capital expenditures 1665.7 1248.7 1480.6 1592.9 1778.0 1886.8 1766.9 1856.9 1957.8 1965.5 1923.7 4

 5 Fixed investment 1680.1 1390.0 1420.1 1557.3 1712.3 1782.1 1704.5 1780.6 1814.6 1828.5 1857.5 5

 6 Residential 90.5 70.5 58.8 62.2 79.5 88.3 51.9 99.8 109.3 92.1 120.7 6

 7 Nonresidential 1589.6 1319.5 1361.4 1495.1 1632.8 1693.8 1652.6 1680.9 1705.2 1736.4 1736.8 7

 8 Change in inventories -32.0 -147.6 61.5 36.4 66.1 106.1 63.4 77.2 144.8 138.8 66.8 8

 9 Nonproduced nonfinancial assets 17.6 6.3 -1.1 -0.9 -0.4 -1.3 -1.0 -0.9 -1.5 -1.9 -0.6 9

 10 Net lending (+) or net borrowing (-) -992.6 569.8 164.1 -397.8 -516.2 -275.5 -145.9 -204.9 -508.4 -242.6 -228.6 10

 11 Net acquisition of financial assets -507.0 185.4 784.9 510.8 758.4 949.8 861.3 980.2 924.4 1033.3 566.1 11

 12 Foreign deposits -25.5 6.8 9.1 -5.8 1.0 44.7 46.8 56.6 12.9 62.5 -64.1 12

 13 Checkable deposits and currency -55.2 85.6 76.8 27.3 29.7 104.2 77.7 -79.8 187.6 231.3 -263.9 13

 14 Time and savings deposits -130.7 172.1 62.8 17.1 41.9 67.6 39.2 71.8 156.0 3.6 52.4 14

 15 Money market fund shares 179.6 -73.1 -154.6 -34.6 19.3 42.5 -17.6 -9.4 126.1 71.0 -95.0 15

 16 Security repurchase agreements -0.9 0.7 4.3 0.4 -2.8 -0.9 -1.8 -2.6 15.6 -14.9 7.1 16

 17 Credit market instruments -45.4 3.4 9.2 -6.1 -8.6 -49.9 -87.9 -3.4 -19.5 -88.7 49.2 17

 18 Commercial paper -12.2 -1.3 12.0 -0.1 -8.0 -29.5 -0.7 -25.6 -29.6 -62.3 22.6 18

 19 Treasury securities -15.4 6.8 7.0 -4.5 -2.8 2.0 -25.5 22.0 2.8 8.9 -8.4 19

 20 Agency- and GSE-backed securities -2.6 4.2 1.7 -1.7 -1.1 -4.7 -28.6 6.8 0.4 2.4 -3.1 20

 21 Municipal securities -3.4 1.1 -2.6 -1.6 1.8 -12.3 -38.2 0.5 0.7 -12.1 9.6 21

 22 Mortgages -10.7 -5.3 2.6 -0.1 -0.2 0.3 -0.5 0.5 0.4 0.6 -0.1 22

 23 Consumer credit -1.2 -2.1 -11.4 1.9 1.7 -5.6 5.6 -7.6 5.7 -26.1 28.6 23

 24 Mutual fund shares -16.5 35.3 11.1 -12.8 -0.0 0.8 0.8 0.8 0.8 0.8 0.8 24

 25 Trade receivables -172.5 -57.5 142.8 89.6 91.2 150.2 196.8 187.2 154.6 62.1 61.3 25

 26 Miscellaneous assets -239.8 12.0 623.3 435.6 586.7 590.5 607.3 759.0 290.2 705.5 818.4 26

 27 Net increase in liabilities 485.6 -384.4 620.8 908.5 1274.6 1225.3 1007.2 1185.1 1432.8 1275.9 794.8 27

 28 Credit market instruments 696.6 -247.7 169.8 545.7 752.0 901.9 624.7 984.1 1113.8 885.0 993.1 28

 29 Commercial paper 7.7 -73.1 24.5 33.4 14.0 14.2 20.1 -20.1 92.0 -35.2 72.1 29

 30 Municipal securities 66.0 37.2 33.2 8.5 15.2 9.3 11.3 6.4 20.6 -0.9 2.1 30

 31 Corporate bonds 225.4 411.7 438.6 410.8 579.6 640.3 579.4 570.8 745.3 665.8 662.0 31

 32 Depository institution loans n.e.c. 183.7 -336.0 -103.8 125.6 166.1 96.1 55.4 117.8 99.4 111.7 96.1 32

 33 Other loans and advances 80.2 -166.1 -85.7 60.8 -24.3 42.3 6.0 184.5 7.3 -28.6 105.5 33

 34 Mortgages 133.5 -121.3 -137.0 -93.4 1.5 99.7 -47.5 124.7 149.2 172.3 55.3 34

 35 Corporate equities -334.3 -62.1 -277.4 -472.2 -399.5 -408.6 -256.2 -423.3 -452.8 -502.1 -426.8 35

 36 Trade payables -219.4 -65.8 186.6 33.1 84.5 125.7 155.3 119.5 150.5 77.7 127.8 36

 37 Taxes payable 9.8 -9.5 6.4 10.0 4.4 -6.4 -16.1 -17.6 -1.0 9.1 -37.9 37

 38 Miscellaneous liabilities 638.4 82.7 361.8 864.2 867.8 632.5 477.0 560.6 657.5 834.7 168.4 38

 39 Proprietors’ net investment -305.3 -82.0 173.6 -72.1 -34.7 -19.8 22.4 -38.2 -35.1 -28.4 -29.9 39

 40 Discrepancy 977.8 -124.6 286.8 853.2 858.0 593.5 522.6 553.2 746.8 551.1 418.5 40

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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F.102 Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Profits before tax (book) 880.3 752.5 1034.3 1026.7 1293.7 1335.7 1307.7 1324.7 1345.2 1365.1 1460.0 1

 2 - Taxes on corporate income 227.4 177.8 220.6 222.3 256.9 266.9 266.6 264.1 263.7 273.2 287.0 2

 3 - Net dividends 474.2 351.7 375.5 440.3 478.8 501.6 483.3 463.3 577.2 482.6 468.6 3

 4 + Capital consumption allowance (1) 1063.8 1049.3 1077.3 1249.3 1071.4 1131.2 1114.0 1123.6 1139.0 1148.2 998.8 4

 5 = U.S. internal funds, book 1242.5 1272.3 1515.6 1613.4 1629.4 1698.4 1671.8 1720.9 1643.3 1757.6 1703.2 5

 6 + Foreign earnings retained abroad 183.8 194.2 218.2 226.1 214.2 225.7 204.5 196.1 270.1 232.2 150.2 6

 7 + Inventory valuation adjustment (IVA) -37.0 6.7 -41.0 -56.0 -10.0 -0.3 -13.0 8.9 1.7 1.2 -31.1 7

 8 - Net capital transfers paid (2) -3.7 38.3 20.9 -6.4 -16.7 -5.7 -9.6 -5.7 -4.5 -2.8 -7.4 8

 9 = Total internal funds + IVA 1393.1 1434.8 1671.8 1789.9 1850.3 1929.4 1872.8 1931.5 1919.5 1993.8 1829.7 9

 10 Gross investment 415.3 1559.4 1385.0 936.7 992.3 1336.0 1350.2 1378.3 1172.7 1442.7 1411.2 10

 11 Capital expenditures 1358.6 1008.5 1239.6 1337.0 1504.2 1560.0 1454.8 1533.2 1621.9 1630.1 1594.7 11

 12 Fixed investment (3) 1372.6 1141.2 1177.0 1298.8 1433.6 1489.0 1422.9 1489.1 1517.2 1526.7 1555.1 12

 13 Inventory change + IVA -31.6 -139.0 63.7 39.1 71.0 72.4 33.0 45.0 106.3 105.3 40.3 13

 14 Nonproduced nonfinancial assets 17.6 6.3 -1.1 -0.9 -0.4 -1.3 -1.0 -0.9 -1.5 -1.9 -0.6 14

 15 Net lending (+) or net borrowing (-) -943.3 551.0 145.5 -400.3 -511.9 -224.1 -104.6 -154.9 -449.2 -187.4 -183.5 15

 16 Net acquisition of financial assets -604.2 302.4 633.2 494.1 684.6 866.0 845.0 872.3 824.3 922.3 514.6 16

 17 Foreign deposits -25.5 6.8 9.1 -5.8 1.0 44.7 46.8 56.6 12.9 62.5 -64.1 17

 18 Checkable deposits and currency -59.0 70.7 79.7 29.7 15.1 94.6 77.3 -92.8 175.8 217.9 -269.2 18

 19 Time and savings deposits -129.4 176.9 59.9 13.2 36.8 58.5 36.7 60.3 145.3 -8.2 46.5 19

 20 Money market fund shares 178.5 -71.4 -157.7 -35.4 18.2 40.6 -18.1 -11.9 123.8 68.5 -96.3 20

 21 Security repurchase agreements -0.9 0.7 4.3 0.4 -2.8 -0.9 -1.8 -2.6 15.6 -14.9 7.1 21

 22 Credit market instruments -34.6 10.1 2.6 -7.1 -10.0 -52.3 -88.6 -6.5 -22.4 -91.8 47.6 22

 23 Commercial paper -12.2 -1.3 12.0 -0.1 -8.0 -29.5 -0.7 -25.6 -29.6 -62.3 22.6 23

 24 Treasury securities -7.9 12.5 5.1 -5.1 -3.4 0.8 -25.8 20.5 1.3 7.3 -9.2 24

 25 Agency- and GSE-backed securities -2.6 4.2 1.7 -1.7 -1.1 -4.7 -28.6 6.8 0.4 2.4 -3.1 25

 26 Municipal securities -3.0 0.9 -3.2 -1.6 1.7 -12.4 -38.3 0.3 0.6 -12.2 9.5 26

 27 Mortgages -7.7 -4.1 -1.6 -0.6 -0.8 -0.8 -0.8 -0.8 -0.8 -0.8 -0.8 27

 28 Consumer credit -1.2 -2.1 -11.4 1.9 1.7 -5.6 5.6 -7.6 5.7 -26.1 28.6 28

 29 Mutual fund shares -16.5 35.3 11.1 -12.8 -0.0 0.8 0.8 0.8 0.8 0.8 0.8 29

 30 Trade receivables -169.6 -31.2 105.7 83.8 83.6 136.5 193.0 170.0 138.6 44.4 52.5 30

 31 Miscellaneous assets -347.3 104.5 518.5 428.1 542.6 543.5 598.8 698.2 234.0 643.0 789.8 31

 32 U.S. direct investment abroad (4) 262.6 269.7 303.3 399.8 365.8 333.2 291.4 368.7 300.4 372.2 347.0 32

 33 Insurance receivables 11.0 -4.0 11.9 10.0 7.4 -0.0 -6.2 7.3 1.3 -2.6 3.0 33

 34 Equity in GSEs -0.1 0.0 0.1 -0.0 0.0 0.0 0.3 -0.2 -0.1 0.1 0.6 34

 35 Investment in finance co. subs. -1.1 -9.3 26.7 8.4 2.6 14.7 56.1 4.7 0.8 -2.6 11.3 35

 36 Other -619.7 -152.0 176.5 10.0 166.8 195.6 257.2 317.8 -68.5 276.0 427.9 36

 37 Net increase in liabilities 339.1 -248.5 487.8 894.4 1196.4 1090.0 949.6 1027.2 1273.6 1109.7 698.1 37

 38 Net funds raised in markets 36.8 -212.7 -88.1 30.7 261.4 363.0 366.3 375.7 501.3 208.8 446.5 38

 39 Net new equity issues -334.3 -62.1 -277.4 -472.2 -399.5 -408.6 -256.2 -423.3 -452.8 -502.1 -426.8 39

 40 Credit market instruments 371.2 -150.6 189.3 503.0 660.9 771.6 622.4 798.9 954.2 710.9 873.2 40

 41 Commercial paper 7.7 -73.1 24.5 33.4 14.0 14.2 20.1 -20.1 92.0 -35.2 72.1 41

 42 Municipal securities (5) 66.0 37.2 33.2 8.5 15.2 9.3 11.3 6.4 20.6 -0.9 2.1 42

 43 Corporate bonds (4) 225.4 411.7 438.6 410.8 579.6 640.3 579.4 570.8 745.3 665.8 662.0 43

 44 Depository institution loans n.e.c. 64.2 -234.0 -87.0 68.9 80.4 46.1 20.4 57.5 56.3 50.3 34.2 44

 45 Other loans and advances (6) 67.9 -160.8 -90.4 60.2 -33.7 37.1 22.5 163.3 0.7 -38.0 117.6 45

 46 Mortgages -60.1 -131.6 -129.6 -78.8 5.3 24.5 -31.2 21.1 39.2 69.0 -14.8 46

 47 Trade payables -225.2 -82.6 156.3 25.2 83.2 118.1 137.8 120.2 143.1 71.1 118.6 47

 48 Taxes payable 3.1 -3.3 7.2 8.8 2.3 -10.1 -17.1 -22.2 -5.4 4.3 -40.3 48

 49 Miscellaneous liabilities 524.3 50.0 412.4 829.6 849.5 619.0 462.6 553.5 634.5 825.5 173.4 49

 50 Foreign direct investment in U.S. 189.6 104.6 157.0 195.2 165.1 170.0 96.4 143.5 196.9 243.3 255.3 50

 51 Pension fund contributions payable 14.7 -8.4 15.4 3.0 -0.9 -1.0 0.8 0.4 -1.1 -3.9 -0.8 51

 52 Claims of pension fund on sponsor 123.0 82.7 -14.9 -12.5 50.1 54.9 48.9 36.4 50.2 84.1 32.6 52

 53 Other 196.9 -128.9 254.8 644.0 635.2 395.1 316.5 373.3 388.4 502.0 -113.6 53

 54 Discrepancy 977.8 -124.6 286.8 853.2 858.0 593.5 522.6 553.2 746.8 551.1 418.5 54

 Memo:

 55 Financing gap (7) 153.0 -270.4 -235.0 -220.4 -115.2 -138.0 -203.9 -196.6 -23.0 -128.6 -77.4 55

(1) Consumption of fixed capital plus capital consumption adjustment.

(2) Table F.9, line 58.

(3) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 10 and 15 respectively.

(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

(5) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

(6) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table F.216.

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
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F.103 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving = consumption of fixed capital 254.5 253.0 251.8 256.8 264.5 275.4 270.8 273.8 276.7 280.2 283.8 1

 2 Gross saving less net capital transfers paid (1) 257.8 259.0 259.6 258.4 269.5 275.4 270.8 273.8 276.7 280.2 283.8 2

 3 Gross investment 257.8 259.0 259.6 258.4 269.5 275.4 270.8 273.8 276.7 280.2 283.8 3

 4 Capital expenditures 307.1 240.2 241.0 255.8 273.8 326.8 312.1 323.7 335.9 335.3 329.0 4

 5 Fixed investment (2) 307.5 248.8 243.1 258.5 278.7 293.1 281.6 291.5 297.4 301.9 302.4 5

 6 Change in inventories -0.4 -8.5 -2.2 -2.7 -4.9 33.6 30.5 32.2 38.5 33.5 26.6 6

 7 Net lending (+) or net borrowing (-) -49.3 18.8 18.6 2.5 -4.3 -51.4 -41.3 -50.0 -59.2 -55.2 -45.1 7

 8 Net acquisition of financial assets 97.2 -117.0 151.7 16.7 73.8 83.8 16.3 107.9 100.0 111.0 51.5 8

 9 Checkable deposits and currency 3.8 14.9 -2.8 -2.3 14.6 9.7 0.4 13.0 11.9 13.4 5.3 9

 10 Time and savings deposits -1.2 -4.8 2.9 3.9 5.1 9.1 2.5 11.5 10.7 11.8 5.9 10

 11 Money market mutual funds 1.0 -1.7 3.1 0.8 1.1 2.0 0.5 2.5 2.3 2.5 1.3 11

 12 Credit market instruments -10.9 -6.7 6.6 1.0 1.4 2.5 0.7 3.1 2.9 3.2 1.6 12

 13 Treasury securities -7.5 -5.7 1.9 0.5 0.7 1.2 0.3 1.5 1.4 1.6 0.8 13

 14 Municipal securities -0.4 0.2 0.5 0.1 0.1 0.1 0.0 0.2 0.2 0.2 0.1 14

 15 Mortgages -3.0 -1.2 4.2 0.5 0.6 1.1 0.3 1.4 1.3 1.4 0.7 15

 16 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Trade receivables -3.0 -26.3 37.0 5.8 7.6 13.6 3.7 17.2 16.1 17.7 8.9 17

 18 Miscellaneous assets 107.5 -92.5 104.8 7.5 44.1 47.0 8.5 60.7 56.2 62.5 28.5 18

 19 Insurance receivables 3.4 -9.8 29.7 -11.6 15.1 -5.6 -7.6 -3.1 -5.1 -6.5 -2.5 19

 20 Equity investment in GSEs (3) 1.2 -0.0 0.4 0.3 0.2 0.6 -0.2 1.1 1.0 0.5 1.1 20

 21 Other 102.9 -82.7 74.7 18.8 28.9 52.0 16.3 62.8 60.3 68.5 29.9 21

 22 Net increase in liabilities 146.6 -135.8 133.1 14.2 78.2 135.2 57.6 157.9 159.2 166.2 96.6 22

 23 Credit market instruments 325.4 -97.1 -19.5 42.7 91.1 130.3 2.3 185.1 159.6 174.1 119.8 23

 24 Depository institution loans n.e.c. 119.5 -102.0 -16.8 56.7 85.7 49.9 35.0 60.3 43.0 61.4 61.9 24

 25 Other loans and advances 12.3 -5.3 4.7 0.6 9.3 5.2 -16.4 21.2 6.6 9.4 -12.1 25

 26 Mortgages 193.6 10.2 -7.3 -14.6 -3.9 75.2 -16.3 103.6 110.0 103.3 70.1 26

 27 Trade payables 5.7 16.8 30.3 7.9 1.3 7.6 17.4 -0.7 7.3 6.5 9.2 27

 28 Taxes payable 6.7 -6.3 -0.7 1.2 2.1 3.7 1.0 4.6 4.3 4.8 2.4 28

 29 Miscellaneous liabilities 114.1 32.8 -50.6 34.5 18.3 13.4 14.4 7.1 23.0 9.2 -4.9 29

 30 Proprietors’ net investment -305.3 -82.0 173.6 -72.1 -34.7 -19.8 22.4 -38.2 -35.1 -28.4 -29.9 30

(1) Net capital transfers paid from table F.9, line 59.

(2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 16 respectively.

(3) Equity in the Farm Credit System.
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22 Z.1, June 5, 2014

F.104 State and Local Governments (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 1909.1 1919.2 1998.5 2029.9 2039.4 2099.2 2078.7 2110.8 2103.2 2104.2 2132.0 1

 2 Personal current taxes 333.5 287.8 297.6 327.0 348.8 375.7 377.1 393.1 365.6 366.9 374.5 2

 3 Taxes on production and imports 947.9 934.8 960.4 988.5 1004.9 1026.5 1021.9 1020.2 1029.7 1034.4 1039.8 3

 4 Taxes on corporate income 47.4 45.6 47.7 50.7 51.4 54.8 54.5 56.0 54.0 54.7 51.6 4

 5 Contributions for govt. social insurance 18.7 18.6 18.1 18.3 17.5 17.5 17.3 17.4 17.6 17.9 18.4 5

 6 Income receipts on assets 105.7 87.8 82.6 80.0 78.5 81.4 80.2 80.9 81.9 82.7 83.5 6

 7 Current transfer receipts 477.8 566.1 612.0 581.8 552.6 558.6 542.7 558.4 569.9 563.2 580.2 7

 8 Current surplus of government enterprises -22.0 -21.4 -19.8 -16.5 -14.3 -15.3 -14.9 -15.2 -15.5 -15.7 -15.9 8

 9 Current expenditures, NIPA basis 2074.1 2191.2 2235.8 2243.0 2292.1 2320.2 2308.5 2308.4 2329.2 2334.5 2369.3 9

 10 Consumption expenditures 1488.7 1508.4 1518.3 1517.4 1536.4 1548.1 1543.0 1541.4 1550.8 1557.3 1568.5 10

 11 Govt. social benefit payments to persons 455.4 492.6 523.8 532.0 544.3 561.4 552.3 555.9 568.9 568.6 592.4 11

 12 Interest payments 127.0 188.8 192.1 192.9 211.0 210.1 212.7 210.6 209.0 208.1 207.9 12

 13 Subsidies 3.0 1.4 1.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 13

 14 Net saving, NIPA basis -165.1 -271.9 -237.3 -213.1 -252.7 -220.9 -229.8 -197.6 -226.0 -230.3 -237.3 14

 15 + Consumption of fixed capital 200.2 208.2 212.7 221.7 231.4 237.6 234.9 236.6 238.3 240.6 242.3 15

 16 - Net capital transfers paid (2) -63.2 -67.7 -76.7 -73.9 -74.1 -70.9 -71.3 -68.6 -74.9 -68.7 -69.5 16

 17 = Gross saving less net capital transfers paid 98.3 4.0 52.2 82.5 52.8 87.5 76.4 107.6 87.2 78.9 74.5 17

 18 Gross investment 50.1 -65.9 49.1 34.1 85.2 66.6 80.9 112.3 10.3 62.9 50.9 18

 19 Fixed investment 358.8 363.0 351.9 337.2 334.9 331.5 326.1 327.8 335.6 336.3 326.6 19

 20 Nonproduced nonfinancial assets 13.8 12.3 10.6 10.1 10.2 9.5 9.8 9.6 9.4 9.2 9.0 20

 21 Net lending (+) or net borrowing (-) -322.5 -441.2 -313.3 -313.3 -259.9 -274.3 -255.0 -225.1 -334.6 -282.7 -284.7 21

 22 Net acq. of financial assets -102.9 14.4 70.1 -16.8 69.0 21.9 170.1 70.9 -90.5 -62.9 56.3 22

 23 Checkable deposits and currency 8.5 19.2 5.7 16.8 -9.0 6.5 13.2 -11.8 28.8 -4.3 11.6 23

 24 Time and savings deposits 18.5 9.7 -6.3 15.2 19.2 12.7 16.3 -7.3 30.3 11.4 20.5 24

 25 Money market fund shares 2.6 9.8 13.7 3.4 5.4 4.9 14.5 10.1 -3.6 -1.6 7.7 25

 26 Security repurchase agreements -12.1 -4.3 -1.4 -3.6 4.7 4.3 12.0 8.5 -2.4 -0.8 6.6 26

 27 Credit market instruments -96.5 -34.1 64.1 -50.4 31.6 -27.4 83.8 44.2 -158.1 -79.4 -5.8 27

 28 Open market paper -22.0 -39.1 13.0 -11.2 -7.2 -7.8 -2.6 -5.3 -12.2 -11.1 -6.6 28

 29 Treasury securities -46.5 -17.4 6.8 -32.7 39.2 -14.3 37.4 26.1 -93.5 -27.2 -8.4 29

 30 Agency- and GSE-backed securities -18.4 9.7 22.5 -7.8 -10.0 -12.6 17.9 3.2 -38.9 -32.5 -4.5 30

 31 Municipal securities 0.4 1.0 1.4 0.3 0.3 0.2 1.0 0.7 -0.5 -0.3 0.5 31

 32 Corporate and foreign bonds -5.7 3.3 7.4 -0.8 3.3 2.7 12.9 8.2 -6.2 -4.1 5.6 32

 33 Mortgages -4.3 8.4 13.0 1.8 6.0 4.4 17.3 11.3 -6.7 -4.2 7.6 33

 34 Corporate equities -7.9 -2.3 -0.2 -2.6 1.8 1.4 6.9 4.4 -3.3 -2.2 3.0 34

 35 Mutual fund shares -0.7 1.7 2.8 0.2 0.9 0.7 3.5 2.3 -1.7 -1.1 1.5 35

 36 Trade receivables -15.4 -4.6 13.1 2.3 5.7 8.8 8.7 11.2 9.1 6.2 7.0 36

 37 Taxes receivable 5.2 -5.8 1.1 2.2 2.1 3.7 -1.2 -0.5 9.6 6.8 -3.8 37

 38 Miscellaneous assets -5.3 25.2 -22.4 -0.3 6.5 6.2 12.4 9.7 0.8 2.0 8.1 38

 39 Net increase in liabilities 219.6 455.7 383.5 296.5 328.9 296.2 425.1 296.1 244.1 219.8 341.1 39

 40 Credit market instruments 17.9 113.0 69.5 -52.7 -5.3 -38.9 73.0 32.8 -116.5 -144.8 -20.3 40

 41 Municipal securities 17.1 112.2 68.7 -53.6 -5.7 -39.4 71.7 33.0 -116.9 -145.4 -20.5 41

 42 Short-term (3) 4.6 7.8 -0.7 -10.6 3.8 -10.9 -4.4 8.6 -19.4 -28.3 -7.0 42

 43 Long-term 12.5 104.4 69.3 -42.9 -9.4 -28.6 76.0 24.4 -97.5 -117.2 -13.6 43

 44 U.S. government loans 0.8 0.8 0.9 0.9 0.4 0.5 1.3 -0.2 0.5 0.6 0.2 44

 45 Trade payables 38.6 38.9 38.5 38.4 39.1 39.6 39.2 39.3 39.9 40.1 40.0 45

 46 Claims of pension fund on sponsor (4) 163.0 303.7 275.4 310.7 295.0 295.5 312.8 224.0 320.6 324.6 321.4 46

 47 Discrepancy 48.2 69.9 3.1 48.4 -32.4 20.9 -4.6 -4.7 76.9 16.1 23.6 47

(1) Data for employee retirement funds are shown in table F.118.

(2) Table F.9, line 62.

(3) Debt with original maturity of 13 months or less.

(4) Included in miscellaneous liabilities.
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Z.1, June 5, 2014 23

F.105 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 2505.7 2230.1 2391.7 2516.7 2663.0 3040.6 2900.1 3166.9 2975.8 3119.5 3092.2 1

 2 Personal current taxes 1101.7 857.2 893.8 1077.0 1149.2 1282.8 1252.0 1275.7 1292.0 1311.6 1323.8 2

 3 Taxes on production and imports 94.0 91.4 96.8 108.6 118.0 120.2 118.8 118.6 119.3 123.9 132.7 3

 4 Taxes on corporate income 233.7 200.4 298.7 294.2 351.0 329.5 321.0 328.7 329.3 338.9 368.0 4

 5 Taxes from the rest of the world 18.8 14.8 15.7 16.3 17.8 19.9 19.2 19.4 20.0 20.8 21.7 5

 6 Contributions for govt. social insurance 974.4 950.8 970.9 904.3 937.8 1093.8 1081.7 1091.2 1096.7 1105.6 1121.1 6

 7 Income receipts on assets 33.9 48.5 54.6 57.4 52.9 164.5 74.1 299.6 93.4 191.0 104.2 7

 8 Current transfer receipts 48.6 66.2 64.4 66.1 49.7 54.6 53.9 57.4 51.0 56.3 50.3 8

 9 Current surplus of government enterprises 0.8 0.7 -3.1 -7.3 -13.4 -24.7 -20.6 -23.8 -25.9 -28.6 -29.6 9

 10 Current expenditures, NIPA basis 3140.8 3479.9 3721.3 3764.9 3772.7 3792.9 3753.2 3820.1 3825.7 3772.5 3821.2 10

 11 Consumption expenditures 879.8 933.7 1003.9 1008.7 1011.7 971.0 982.3 976.0 972.4 953.4 959.0 11

 12 Government social benefits 1407.4 1624.9 1726.6 1745.3 1790.5 1856.7 1848.1 1849.0 1862.8 1866.8 1883.7 12

 13 Other current transfer payments 416.0 510.7 555.9 529.0 493.1 492.6 479.2 498.1 509.2 483.8 504.8 13

 14 Interest payments 388.0 353.6 380.6 422.6 420.6 414.4 386.1 438.4 422.7 410.1 417.4 14

 15 Subsidies 49.6 56.9 54.3 59.4 56.8 58.2 57.5 58.5 58.6 58.2 56.3 15

 16 Net saving, NIPA basis -635.1 -1249.8 -1329.5 -1248.3 -1109.7 -752.3 -853.1 -653.1 -850.0 -653.0 -728.9 16

 17 + Consumption of fixed capital 226.3 234.5 245.3 256.5 262.3 267.5 265.6 266.8 267.8 269.9 270.9 17

 18 - Insurance and pension reserves (1) -0.6 0.5 -1.7 -0.4 -1.4 -1.2 -1.9 -0.4 -2.7 -0.0 -2.0 18

 19 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.8 5.0 4.9 4.4 4.6 5.3 5.3 5.3 5.3 5.4 5.5 19

 20 - Net capital transfers paid (2) 49.9 64.4 84.8 81.4 79.9 58.7 65.8 58.4 61.5 49.1 56.4 20

 21 = Gross saving less net capital transfers paid -462.9 -1085.1 -1172.2 -1077.2 -930.5 -547.5 -656.7 -449.6 -646.3 -437.6 -518.0 21

 22 Gross investment -533.6 -1023.2 -1117.8 -1061.0 -850.3 -432.9 -859.9 66.2 -463.8 -474.0 -607.1 22

 23 Fixed investment 275.8 284.0 300.0 295.4 284.0 274.8 272.7 276.6 278.8 271.3 262.1 23

 24 Nonproduced nonfinancial assets -20.4 -8.9 -1.0 -0.9 -1.4 -1.0 -0.6 -0.8 -1.1 -1.3 -1.3 24

 25 Net lending (+) or net borrowing (-) -789.0 -1298.3 -1416.7 -1355.5 -1133.0 -706.7 -1131.9 -209.6 -741.5 -743.9 -867.9 25

 26 Net acq. of financial assets 580.0 237.8 281.1 -154.8 116.4 172.5 139.9 208.7 -81.5 422.9 74.6 26

 27 U.S. official reserve assets 4.2 51.9 1.6 16.2 4.3 -3.3 3.3 -1.0 -4.2 -11.2 -14.4 27

 28 Checkable deposits and currency 313.1 -174.2 148.9 -257.6 6.7 69.6 -8.2 130.2 -188.9 345.3 -35.9 28

 29 Time and savings deposits -1.3 0.3 0.1 -0.3 0.2 -0.5 -1.7 0.9 0.2 -1.3 -0.1 29

 30 Credit market instruments 93.4 309.1 83.6 19.1 105.0 125.4 165.3 125.1 109.1 102.2 149.0 30

 31 Agency- and GSE-backed securities 54.4 142.0 -47.2 -118.1 -31.1 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Corporate and foreign bonds 0.0 0.6 0.3 -0.1 -0.2 -0.1 -0.2 -0.1 -0.1 -0.0 -0.0 32

 33 Other loans and advances 6.0 66.0 3.5 4.8 2.5 8.5 10.1 8.5 7.7 7.5 6.6 33

 34 Mortgages 13.5 12.6 -6.2 4.1 1.6 4.0 7.2 -0.5 3.7 5.5 1.9 34

 35 Consumer credit (3) 19.5 87.9 133.1 128.5 132.1 113.1 148.2 117.2 97.7 89.2 140.5 35

 36 Corporate equities (4) 256.3 0.6 24.1 40.3 -13.2 -4.8 -5.2 -2.8 -10.3 -1.1 -0.6 36

 37 Trade receivables 4.2 -21.1 -0.7 4.8 2.6 -1.5 -14.1 14.4 -4.3 -2.1 -7.5 37

 38 Taxes receivable -62.0 35.9 27.1 20.8 11.9 -18.0 -2.4 -46.5 1.7 -24.9 -24.2 38

 39 Miscellaneous assets -28.0 35.4 -3.5 1.9 -1.0 5.6 2.7 -11.6 15.3 16.0 8.2 39

 40 Net increase in liabilities 1369.0 1536.1 1697.8 1200.7 1249.4 879.3 1271.8 418.4 660.0 1166.8 942.6 40

 41 SDR allocations 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 SDR certificates 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Treasury currency -0.8 -0.4 -0.3 0.0 0.0 -0.4 0.0 0.0 -1.4 0.0 0.0 43

 44 Credit market instruments 1239.2 1443.9 1580.2 1067.9 1140.2 759.1 1168.7 299.9 174.1 1393.6 873.6 44

 45 U.S. savings securities -2.4 -2.8 -3.3 -2.7 -2.8 -3.3 -2.5 -3.7 -3.3 -3.6 -2.9 45

 46 Treasury bills 861.6 -73.3 -19.0 -249.5 107.0 -35.9 646.7 -880.3 -160.7 250.6 238.7 46

 47 Other Treasury securities 379.7 1519.8 1601.8 1319.0 1036.3 798.7 525.5 1182.6 337.5 1149.1 639.8 47

 48 Budget agency securities 0.2 0.1 0.7 1.1 -0.4 -0.4 -1.0 1.3 0.5 -2.4 -1.9 48

 49 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 49

 50 Trade payables 22.6 -56.2 6.3 9.4 15.2 18.3 2.8 31.7 25.4 13.3 -4.0 50

 51 Insurance reserves 1.0 1.1 0.9 1.3 0.3 0.3 0.2 0.8 -0.5 0.5 -0.0 51

 52 Miscellaneous liabilities 107.1 97.0 110.7 122.1 93.7 102.0 100.1 86.1 462.3 -240.6 73.1 52

 53 Nonmarketable securities held by pension plans (5) 63.3 61.9 65.7 70.8 40.4 98.2 229.9 -272.6 -110.3 545.9 142.2 53

 54 Claims of pension fund on sponsor 17.6 15.6 20.2 19.2 48.2 -9.7 -141.3 361.1 605.7 -864.1 -53.6 54

 55 Other 26.2 19.5 24.9 32.1 5.0 13.4 11.5 -2.5 -33.0 77.7 -15.5 55

 56 Discrepancy 70.6 -61.9 -54.5 -16.2 -80.2 -114.7 203.2 -515.8 -182.5 36.4 89.1 56

 Memo:

 57 Change in cash balance (6) 308.6 -173.2 148.9 -258.0 7.5 69.6 -54.7 227.7 -185.3 290.4 -79.8 57

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

(2) Table F.9, line 61 less line 12.

(3) Includes loans originated by the Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that

 the government purchased from depository institutions and finance companies.

(4) Corporate equities purchased from financial businesses under the Troubled Asset Relief Program (TARP) and from GSEs at issuance price.

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

 retirement fund, and foreign service retirement and disability fund.

(6) Time and savings deposits (line 29) plus checkable deposit and currency liabilities of the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
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24 Z.1, June 5, 2014

F.106 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Foreign income from U.S. 3378.4 2608.7 3018.1 3360.9 3453.5 3479.1 3465.5 3474.6 3480.4 3496.0 3538.8 1

 2 U.S. imports 2556.4 1976.0 2362.0 2669.9 2743.1 2757.2 2737.3 2747.9 2766.0 2777.5 2801.9 2

 3 U.S. income payments to rest of world 683.8 496.5 514.1 542.1 565.7 569.5 575.9 570.1 559.1 572.9 590.7 3

 4 Current taxes and trans. payments to rest of world 138.3 136.1 142.0 149.0 144.6 152.5 152.4 156.6 155.3 145.6 146.2 4

 5 Foreign outlays to U.S. 2699.9 2227.5 2563.5 2904.0 3014.5 3087.2 3027.5 3055.9 3087.8 3177.4 3125.6 5

 6 U.S. exports 1843.1 1583.8 1843.5 2101.1 2195.9 2259.9 2214.2 2238.9 2265.8 2320.6 2300.1 6

 7 U.S. income receipts from rest of world 856.8 643.7 720.0 802.8 818.6 827.3 813.3 817.0 822.0 856.8 825.4 7

 8 - Net capital transfers paid (1) 5.4 -0.6 -0.7 -1.6 6.6 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 8

 9 Gross saving less net capital transfers paid (2) 673.1 381.7 455.2 458.6 432.4 392.4 438.5 419.1 393.0 319.0 413.6 9

 10 Gross investment 736.6 230.9 437.9 550.4 446.3 351.5 170.3 266.0 273.3 696.4 582.9 10

 11 Nonproduced nonfinancial assets -0.0 0.0 -0.0 -0.1 0.0 0.7 -0.0 0.0 1.1 1.6 0.4 11

 12 Net lending (+) or net borrowing (-) 736.6 230.9 437.9 550.5 446.3 350.8 170.3 266.0 272.2 694.8 582.5 12

 13 Net acquisition of financial assets 569.9 236.5 1196.8 1108.4 696.8 972.3 904.2 1695.2 209.9 1079.9 1135.9 13

 14 Monetary gold (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 SDR allocations 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net interbank assets 355.4 -201.9 -61.8 213.9 -136.0 290.1 382.0 1133.6 -161.6 -193.6 193.2 16

 17 U.S. checkable deposits and currency 64.0 -9.2 29.5 81.8 68.3 49.5 10.7 33.2 89.5 64.5 113.4 17

 18 U.S. time deposits 78.5 -73.2 9.0 47.2 37.1 48.7 -4.1 26.0 81.9 90.8 46.7 18

 19 Money market fund shares 23.7 7.2 -7.1 24.9 20.2 64.3 9.3 203.5 15.4 29.0 -1.0 19

 20 Security repurchase agreements -580.4 -42.7 74.2 123.3 2.6 56.4 221.8 -117.4 10.4 110.6 191.9 20

 21 Credit market instruments 377.2 123.5 623.7 239.6 449.7 546.4 561.4 87.7 512.3 1024.3 612.9 21

 22 Open market paper -45.1 -41.4 -0.5 0.7 3.4 2.0 35.0 -15.0 -51.4 39.4 9.1 22

 23 Treasury securities 711.6 554.4 740.4 357.9 589.5 437.7 531.6 65.5 251.1 902.8 378.6 23

 24 Official 548.7 569.9 442.0 169.8 433.2 235.5 435.5 -35.4 34.6 507.4 23.9 24

 25 Private 162.9 -15.5 298.3 188.0 156.4 202.2 96.1 100.9 216.5 395.4 354.7 25

 26 Agency- and GSE-backed securities -228.6 -226.0 -72.3 -41.6 -71.8 -87.9 -167.4 -137.4 89.5 -136.4 -123.6 26

 27 Official -31.3 -169.5 -96.0 -29.5 -126.0 -27.2 -88.1 -40.1 81.1 -61.7 -62.0 27

 28 Private -197.3 -56.6 23.8 -12.1 54.2 -60.8 -79.3 -97.4 8.3 -74.8 -61.6 28

 29 Municipal securities 5.9 7.7 13.1 -1.4 -2.4 1.7 -5.5 11.7 8.7 -8.0 17.8 29

 30 U.S. corporate bonds (4) -21.8 -127.3 -36.8 -109.9 -16.9 201.6 157.9 137.1 269.5 242.0 275.8 30

 31 Loans to U.S. corporate business -44.7 -44.0 -20.2 33.9 -52.2 -8.7 9.7 25.9 -55.0 -15.5 55.2 31

 32 U.S. corporate equities 105.8 154.9 74.6 -38.7 29.9 -55.4 3.1 -126.9 284.0 -381.9 364.2 32

 33 Mutual fund shares -2.7 57.2 111.5 147.5 182.0 -99.1 -95.2 -207.6 -72.3 -21.3 -17.5 33

 34 Trade receivables 6.5 6.6 19.8 17.7 11.5 9.8 17.4 21.0 14.4 -13.6 44.6 34

 35 Miscellaneous assets 141.9 166.5 323.5 251.2 31.7 61.7 -202.2 641.9 -564.2 371.2 -412.3 35

 36 Foreign direct investment in U.S. (5) 310.1 150.4 205.9 230.2 166.4 193.4 119.9 163.7 217.3 272.6 282.3 36

 37 Other -168.2 16.1 117.7 21.0 -134.8 -131.7 -322.0 478.2 -781.5 98.6 -694.6 37

 38 Net increase in liabilities -166.7 5.7 758.9 557.9 250.5 621.5 733.9 1429.2 -62.3 385.2 553.4 38

 39 U.S. official reserve assets 4.8 52.3 1.8 15.9 4.5 -3.1 3.5 -0.8 -4.0 -11.1 -14.3 39

 40 U.S. private deposits -394.3 -110.7 -9.3 -46.3 -30.2 55.9 96.8 315.3 -20.1 -168.6 -159.7 40

 41 Security repurchase agreements -366.3 55.7 200.3 71.6 39.7 -108.8 -70.5 -159.8 49.0 -254.0 217.4 41

 42 Credit market instruments -216.2 208.1 81.4 128.9 126.2 238.4 393.3 45.9 95.6 418.6 209.9 42

 43 Commercial paper -71.0 59.4 -2.7 -53.5 27.9 34.0 120.7 13.7 -26.6 28.1 65.2 43

 44 Bonds -158.8 163.3 59.9 137.7 62.2 162.7 239.8 3.9 77.7 329.3 90.0 44

 45 Depository institution loans n.e.c. 15.1 -14.8 24.0 43.2 30.4 39.1 33.3 24.9 41.0 57.0 54.7 45

 46 Official 1.7 -0.0 2.1 -1.2 0.8 1.0 -0.1 -0.4 2.1 2.2 -2.7 46

 47 Banks 5.4 -5.2 15.6 16.8 0.6 20.0 23.0 17.1 25.1 14.8 6.1 47

 48 Other 8.0 -9.6 6.3 27.6 29.1 18.1 10.4 8.2 13.8 40.0 51.4 48

 49 Other loans and advances -1.5 0.3 0.2 1.4 5.7 2.7 -0.4 3.5 3.5 4.1 -0.0 49

 50 Foreign corporate equities (6) -38.5 63.7 79.1 6.0 82.6 226.2 295.3 313.6 91.4 204.5 364.8 50

 51 Trade payables -9.9 6.1 25.8 -32.2 6.3 -8.6 -0.3 6.8 3.4 -44.2 -46.3 51

 52 Miscellaneous liabilities 853.7 -269.5 379.7 414.1 21.5 221.6 15.7 908.2 -277.6 239.9 -18.5 52

 53 U.S. equity in IBRD, etc. 1.4 1.7 2.3 2.6 2.4 2.2 0.1 8.3 0.1 0.3 -2.8 53

 54 Nonofficial foreign currencies 529.8 -543.3 -10.1 99.7 -91.0 -8.9 -3.8 -25.3 -4.5 -1.9 0.6 54

 55 U.S. direct investment abroad (4,5) 329.1 310.4 301.1 409.0 388.3 359.6 333.1 384.6 372.9 348.0 351.6 55

 56 Investment by holding companies -9.1 23.5 10.6 30.6 -51.5 -29.0 89.8 -146.0 106.5 -166.4 40.4 56

 57 Other 2.6 -61.7 75.8 -127.8 -226.8 -102.4 -403.5 686.4 -752.6 60.0 -408.3 57

 58 Discrepancy (FOF basis) (7) -63.4 150.8 17.3 -91.9 -13.9 40.9 268.2 153.1 119.7 -377.4 -169.3 58

 Memo:

 59 Net U.S. exports, NIPA basis -713.2 -392.2 -518.5 -568.7 -547.2 -497.3 -523.1 -509.0 -500.2 -456.9 -501.8 59

 60 + Net U.S. income receipts (8) 173.0 147.2 206.0 260.8 252.8 257.8 237.4 246.8 262.9 284.0 234.8 60

 61 - Current taxes and trans. payments to rest of world 138.3 136.1 142.0 149.0 144.6 152.5 152.4 156.6 155.3 145.6 146.2 61

 62 = Balance on current account, NIPAs -678.5 -381.2 -454.5 -457.0 -439.0 -392.0 -438.1 -418.7 -392.6 -318.6 -413.2 62

(1) Table F.9, line 64.

(2) Line 1 minus line 5 minus line 8; equals net lending or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 63 with the sign reversed minus line 8.

(3) U.S. net sales, sign reversed.

(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.

(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Balance of payments discrepancy adjusted to NIPA concepts.

(8) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
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F.107 Financial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid 38.6 350.7 384.5 333.2 331.2 289.5 395.1 131.2 374.5 257.3 289.8 1

 2 Gross investment 34.8 195.5 139.5 212.8 305.4 386.4 444.3 505.2 981.6 -385.7 190.1 2

 3 Capital expenditures 196.3 167.5 166.8 181.7 198.7 220.0 249.5 205.5 199.0 225.9 204.0 3

 4 Fixed residential investment 0.1 0.7 4.0 6.5 5.3 14.7 46.3 2.3 -6.6 17.0 -3.6 4

 5 Fixed nonresidential investment 196.2 166.9 162.8 175.2 193.4 205.2 203.1 203.2 205.6 208.9 207.6 5

 6 Net lending (+) or net borrowing (-) -161.5 28.0 -27.3 31.1 106.7 166.4 194.9 299.7 782.6 -611.5 -13.9 6

 7 Net acqisition of financial assets 4254.3 -1235.3 34.8 2217.2 1980.4 3537.8 4373.5 2923.5 4228.1 2626.2 3238.9 7

 8 U.S. official reserve assets 0.6 0.3 0.3 -0.3 0.2 0.2 0.2 0.2 0.2 0.1 0.1 8

 9 SDR certificates 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury currency -0.0 4.0 0.9 0.7 0.6 0.7 0.9 0.7 0.7 0.6 1.0 10

 11 Foreign deposits -14.6 11.6 8.7 -62.9 0.4 -9.6 21.8 -46.7 -3.2 -10.2 -57.3 11

 12 Net interbank assets 1351.5 -349.5 -106.9 603.0 -64.1 760.1 1170.7 887.0 899.4 83.3 765.6 12

 13 Checkable deposits and currency 66.5 -30.2 -32.3 37.1 11.1 -3.3 16.4 -19.5 55.2 -65.4 -84.1 13

 14 Time and savings deposits 121.7 128.7 -108.9 -47.0 13.3 83.1 -16.1 93.8 294.4 -39.6 36.3 14

 15 Money market fund shares 283.6 -174.6 -172.5 -71.4 -35.0 -106.1 -189.7 -215.3 77.6 -97.0 -101.4 15

 16 Federal funds and security repos -498.1 -495.4 270.8 117.8 264.8 -375.6 -562.0 -468.8 -126.9 -344.6 -28.4 16

 17 Credit market instruments 2263.7 -745.8 14.5 1234.4 1257.1 1908.5 2053.0 1744.4 1663.2 2173.3 1952.8 17

 18 Open market paper -8.1 -396.8 -103.3 -75.9 -4.5 38.4 99.8 24.5 32.2 -3.1 63.4 18

 19 Treasury securities 441.4 365.6 502.9 974.8 299.8 547.3 706.1 326.7 260.6 896.0 868.4 19

 20 Agency- and GSE-backed securities 725.3 681.3 52.6 159.4 219.9 427.8 641.7 419.0 231.4 419.1 194.6 20

 21 Municipal securities 42.2 38.4 44.1 13.4 137.9 6.6 98.1 6.4 -38.0 -40.1 63.6 21

 22 Corporate and foreign bonds -23.3 38.3 272.1 220.2 395.5 405.6 507.2 272.3 472.6 370.2 403.7 22

 23 Depository institution loans n.e.c. 699.9 -758.5 -92.2 146.6 186.1 186.1 76.0 219.4 181.6 267.5 280.3 23

 24 Other loans and advances 145.5 -463.8 -209.7 -30.9 38.7 121.1 27.0 279.5 119.3 58.6 58.0 24

 25 Mortgages 231.3 -66.6 -315.4 -155.1 -60.9 102.8 -135.7 135.8 309.0 102.1 -19.0 25

 26 Consumer credit 9.6 -183.7 -136.7 -17.9 44.7 72.8 32.7 60.9 94.6 103.1 39.7 26

 27 Corporate equities 225.8 166.1 86.1 -64.1 81.4 189.1 20.5 126.9 231.6 377.4 58.4 27

 28 Mutual fund shares 51.1 63.5 12.1 -59.6 7.0 19.3 34.8 10.4 41.8 -10.0 39.6 28

 29 Trade receivables -14.9 -38.0 -8.6 -0.8 -1.6 -2.2 3.9 -5.1 0.4 -8.0 23.8 29

 30 Security credit -173.3 30.3 81.4 -8.3 55.7 45.9 44.1 -29.6 55.0 114.0 69.0 30

 31 Life insurance reserves 5.3 2.8 8.2 7.3 14.7 1.4 9.7 5.9 -28.5 18.3 14.9 31

 32 Miscellaneous assets 585.3 187.7 -19.0 531.3 375.0 1026.4 1765.2 839.4 1067.2 433.9 548.6 32

 33 Net increase in liabilities 4415.8 -1263.3 62.0 2186.1 1873.7 3371.4 4178.6 2623.8 3445.5 3237.7 3252.8 33

 34 Net interbank liabilities 1751.8 -536.9 -142.8 820.5 -194.5 1107.0 1847.5 2005.3 535.7 39.6 1031.8 34

 35 Checkable deposits and currency 568.4 -7.9 266.3 234.5 267.7 332.6 294.2 68.8 162.3 805.2 224.6 35

 36 Time and savings deposits 342.4 343.7 115.6 404.1 520.4 409.1 124.3 417.8 834.1 260.3 724.1 36

 37 Money market fund shares 724.2 -498.7 -503.2 -112.8 7.1 28.7 -142.8 85.0 270.2 -97.8 -91.1 37

 38 Federal funds and security repos -1377.1 -377.0 413.7 251.4 250.6 -502.4 -674.3 -677.4 -254.2 -403.8 132.6 38

 39 Credit market instruments 978.4 -1663.3 -900.1 -339.8 -415.8 211.0 -67.0 61.4 62.3 787.4 -319.4 39

 40 Open market paper -125.4 -448.1 -102.2 -68.2 -58.8 -48.9 -12.4 -15.7 -127.2 -40.4 -51.5 40

 41 Agency- and GSE-backed securities 768.7 -60.1 -46.9 -21.9 -22.4 239.9 182.0 225.6 198.5 353.6 -253.7 41

 42 Corporate and foreign bonds -201.4 -448.4 -544.6 -235.8 -221.7 -87.0 -299.5 -313.5 12.0 253.1 -25.3 42

 43 Depository institution loans n.e.c. 496.4 -435.9 -62.5 32.6 -121.2 20.9 -4.2 34.0 -68.7 122.6 -15.8 43

 44 Other loans and advances 33.3 -282.6 -144.7 -60.0 3.5 78.3 46.5 126.3 62.0 78.4 19.1 44

 45 Mortgages 6.8 11.8 0.8 13.5 4.8 7.8 20.6 4.6 -14.3 20.2 7.8 45

 46 Corporate equities 639.2 316.4 191.4 164.1 168.1 161.9 235.7 48.0 178.8 184.9 46.9 46

 47 Mutual fund shares -9.9 497.1 370.1 338.4 624.9 635.6 951.2 507.4 673.9 409.7 543.2 47

 48 Trade payables -24.7 48.9 -52.0 -3.8 -0.0 0.3 4.6 1.0 -9.3 4.9 -6.0 48

 49 Security credit -192.2 -43.5 29.8 31.9 32.8 68.9 -26.2 193.5 0.2 108.1 32.0 49

 50 Life insurance reserves 64.2 26.3 13.6 79.9 -12.2 29.8 11.5 28.0 45.8 33.8 65.9 50

 51 Pension entitlements 540.2 413.5 598.3 484.9 501.0 507.5 453.9 468.2 512.6 595.3 530.3 51

 52 Taxes payable -133.6 6.1 13.0 10.7 6.9 17.7 43.4 -68.3 36.3 59.3 42.8 52

 53 Equity in noncorporate business 11.6 0.6 0.9 -1.7 6.5 -2.3 -5.3 1.3 -16.1 10.9 -2.6 53

 54 Miscellaneous liabilities 166.5 267.2 -152.3 -104.6 150.0 257.3 1057.3 -676.1 461.9 185.9 515.0 54

 55 Discrepancy 3.8 155.2 245.0 120.4 25.8 -96.9 -49.2 -374.0 -607.1 642.9 99.8 55

(1) Sum of financial sectors shown on tables F.108 and F.110 through F.130.
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F.108 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 3.0 -0.8 -8.6 -0.3 -17.6 -1.3 -1.6 -1.2 -1.2 -1.1 -1.0 1

 2 Fixed nonresidential investment 0.6 0.7 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.6 2

 3 Net acquisition of financial assets 1319.3 -3.4 186.0 494.0 7.7 1118.8 1211.2 1116.3 1022.7 1125.2 922.1 3

 4 U.S. official reserve assets 0.6 0.3 0.3 -0.3 0.2 0.2 0.2 0.2 0.2 0.1 0.1 4

 5 SDR certificates 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency -0.0 4.0 0.9 0.7 0.6 0.7 0.9 0.7 0.7 0.6 1.0 6

 7 Federal Reserve float (2) -1.5 -0.6 0.7 0.8 0.1 -0.5 -0.4 -0.5 0.6 -1.6 1.7 7

 8 Interbank loans (2) 511.1 -463.1 -96.4 -0.0 -0.1 0.0 -0.2 0.4 0.2 -0.4 -0.2 8

 9 Discount window (3) 495.4 -447.4 -96.4 -0.0 -0.1 0.0 -0.2 0.4 0.2 -0.4 -0.2 9

 10 AMLF (4) 15.7 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Security repurchase agreements 33.5 -80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit market instruments 245.4 1001.6 271.5 376.5 34.5 1086.1 1134.2 1083.8 1023.6 1102.9 911.1 12

 13 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Treasury securities -264.7 300.7 244.9 642.0 2.7 542.6 575.2 548.5 522.5 524.3 498.9 14

 15 Treasury bills -209.4 0.0 0.0 0.0 -18.4 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Other Treasury securities -55.3 300.7 244.9 642.0 21.1 542.6 575.2 548.5 522.5 524.3 498.9 16

 17 Agency- and GSE-backed securities 19.7 1048.5 71.4 -197.9 61.8 543.9 559.7 535.8 501.7 578.6 412.3 17

 18 Mortgage-backed securities 0.0 908.4 83.8 -154.5 89.0 563.5 577.1 548.7 535.8 592.3 451.8 18

 19 Other agency- and GSE-baked securities 19.7 140.2 -12.4 -43.5 -27.2 -19.6 -17.4 -13.0 -34.1 -13.7 -39.5 19

 20 Depository institution loans n.e.c. 490.4 -347.6 -44.8 -67.6 -29.9 -0.5 -0.7 -0.5 -0.6 -0.0 -0.1 20

 21 Households (TALF) (5) 0.0 47.5 -22.8 -15.7 -8.5 -0.5 -0.7 -0.5 -0.6 -0.0 -0.1 21

 22 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Brokers and dealers (6) 45.5 -45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (Maiden Lane) (7) 29.1 0.1 -3.4 -21.0 -4.9 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (AIG) 38.9 -16.7 -2.2 -20.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Funding corporations (Maiden Lane II) (8) 19.5 -3.5 -2.5 -6.7 -6.8 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Funding corporations (Maiden Lane III) (9) 24.4 -5.9 -4.4 -4.2 -9.8 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Funding corporations (CPFF) (10) 333.0 -323.6 -9.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Corporate equities (11) 0.0 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Miscellaneous assets 530.2 -493.8 7.8 142.9 -27.6 32.3 76.6 31.6 -2.6 23.6 8.3 30

 31 Nonofficial foreign currencies (12) 529.7 -543.5 -10.2 99.7 -90.9 -8.6 -3.3 -25.5 -4.7 -1.0 0.5 31

 32 Other 0.5 49.6 18.0 43.1 63.4 40.9 79.9 57.1 2.1 24.5 7.8 32

 33 Net increase in liabilities 1316.7 -8.0 185.1 493.7 7.3 1118.7 1210.4 1116.6 1022.9 1124.9 919.9 33

 34 Depository institution reserves 839.2 117.0 -8.9 594.2 -71.2 758.0 1197.2 891.6 876.6 66.7 781.0 34

 35 Vault cash of depository institutions 2.7 -2.8 -2.2 8.1 7.1 2.6 -25.8 -4.6 22.0 18.6 -16.9 35

 36 Checkable deposits and currency 428.2 -117.6 185.0 -122.1 62.1 139.5 -16.8 313.7 -109.1 370.2 -25.8 36

 37 Due to federal government 349.3 -173.8 149.0 -255.0 7.0 69.8 -52.3 226.5 -185.9 290.8 -78.7 37

 38 Treasury cash holdings 0.0 -0.0 -0.1 -0.0 0.0 0.1 0.3 -0.4 0.2 0.3 0.2 38

 39 Treasury general deposit account 90.0 80.5 -45.9 -55.0 7.0 69.7 -52.6 226.9 -186.1 290.5 -78.9 39

 40 Treasury temporary supplementary financing account 259.3 -254.3 195.0 -200.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Due to rest of the world 1.3 1.0 0.9 -3.2 6.3 1.5 11.0 3.3 -4.3 -3.9 -4.0 41

 42 Due to government-sponsored enterprises 19.4 14.0 -21.6 51.1 -37.4 -1.3 -28.1 -2.7 18.3 7.3 -60.3 42

 43 Currency outside banks 58.2 41.2 56.7 85.0 86.2 69.5 52.6 86.6 62.9 76.0 117.1 43

 44 Security repurchase agreements 44.4 -10.6 -18.0 40.2 7.3 208.7 -6.9 -41.2 249.0 634.1 100.4 44

 45 Miscellaneous liabilities 2.2 6.1 29.2 -26.7 2.0 9.8 62.6 -43.0 -15.6 35.3 81.3 45

 46 Federal Reserve Bank stock 2.6 4.6 0.9 0.4 0.5 0.1 0.8 -0.3 -0.2 0.3 2.2 46

 47 Other -0.5 1.5 28.3 -27.1 1.5 9.7 61.8 -42.7 -15.4 35.1 79.1 47

 48 Discrepancy -0.2 -6.0 -10.0 -1.2 -18.6 -2.0 -2.9 -1.5 -1.6 -1.9 -3.7 48

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table F.203.

(3) Federal Reserve loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF.

(7) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(8) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(9) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(10) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(11) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.
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F.109 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (2) 35.2 90.9 142.9 76.1 27.5 126.9 151.8 89.2 127.2 139.5 109.3 1

 2 Fixed nonresidential investment 33.0 29.7 24.7 24.0 25.7 30.7 30.6 30.4 30.8 31.3 30.3 2

 3 Net lending (+) or net borrowing (-) 55.0 -302.5 -58.7 -35.3 -71.7 68.2 -74.0 340.2 442.6 -436.1 -46.9 3

 4 Net acquisition of financial assets 1174.6 -686.6 -227.4 820.7 498.1 992.6 1181.5 1380.5 920.7 487.7 1564.3 4

 5 Vault cash 2.7 -2.8 -2.2 8.1 7.1 2.6 -25.8 -4.6 22.0 18.6 -16.9 5

 6 Reserves at Federal Reserve 839.2 117.0 -8.9 594.2 -71.2 758.0 1197.2 891.6 876.6 66.7 781.0 6

 7 Federal funds and security repos -125.1 -308.1 20.9 22.5 113.0 -98.7 -219.1 -73.5 -3.7 -98.7 85.6 7

 8 Credit market instruments 434.9 -536.6 -139.5 249.9 476.7 297.0 168.3 242.2 195.5 582.2 746.0 8

 9 Open market paper 15.3 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities -20.8 94.7 103.0 -46.7 86.6 -35.1 -69.7 -147.2 -89.7 166.2 156.9 10

 11 Agency- and GSE-backed securities 142.2 172.6 138.5 133.6 49.7 42.4 160.0 68.8 -98.3 39.3 49.7 11

 12 Municipal securities 20.4 3.4 29.3 46.8 68.0 55.1 58.7 65.7 54.6 41.6 35.5 12

 13 Corporate and foreign bonds -39.3 -137.8 -124.7 4.3 -13.8 -16.2 -81.9 -23.2 51.9 -11.6 -54.0 13

 14 Depository institution loans n.e.c. 209.5 -410.9 -47.4 214.1 216.0 186.6 76.7 219.9 182.2 267.5 280.4 14

 15 Other loans and advances -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Mortgages 38.3 -179.4 -157.2 -105.8 21.7 -10.7 -12.2 6.4 -0.8 -36.1 220.6 16

 17 Consumer credit 69.7 -63.6 -81.0 3.6 48.7 74.9 36.7 51.8 95.6 115.3 56.9 17

 18 Corporate equities 6.3 4.7 -0.5 1.9 2.4 0.8 -2.1 -4.0 1.3 8.1 -2.5 18

 19 Mutual fund shares 1.3 14.1 -5.6 -0.5 -0.7 1.5 3.8 -9.7 5.1 6.9 8.7 19

 20 Security credit -12.7 -7.8 6.2 31.0 -9.2 10.4 27.7 -8.4 10.3 12.2 19.0 20

 21 Life insurance reserves 6.4 0.8 4.5 4.8 7.4 -3.7 4.8 4.7 -33.0 8.7 4.8 21

 22 Miscellaneous assets 21.3 32.1 -102.1 -91.3 -27.4 24.7 26.8 342.2 -153.3 -117.0 -61.5 22

 23 Net increase in liabilities 1119.5 -384.1 -168.7 856.1 569.8 924.4 1255.6 1040.3 478.1 923.7 1611.2 23

 24 Net interbank liabilities 909.8 -651.1 -131.7 218.2 -130.3 346.5 676.1 1118.3 -362.9 -45.7 267.8 24

 25 Checkable deposits 140.2 109.7 81.3 356.7 205.6 193.1 311.0 -245.0 271.4 435.0 250.5 25

 26 Small time and savings deposits 524.8 517.2 298.3 577.4 539.6 307.0 130.8 371.4 606.7 119.1 514.2 26

 27 Large time deposits -182.4 -173.6 -182.7 -173.3 -19.2 102.1 -6.4 46.4 227.4 141.2 209.9 27

 28 Federal funds and security repos -164.0 -133.9 6.7 -27.2 -32.0 -97.0 -112.2 -93.9 -103.3 -78.6 167.3 28

 29 Credit market instruments 7.2 -306.3 -218.0 -52.4 -109.9 -31.5 -122.8 -14.4 -37.6 48.6 -21.0 29

 30 Open market paper 0.0 0.1 -20.1 7.6 -33.1 -27.8 -52.2 -41.1 -27.3 9.3 -5.2 30

 31 Corporate bonds 0.1 -28.5 -49.2 2.4 -82.3 -74.9 -114.0 -93.6 -75.3 -16.6 -27.2 31

 32 Other loans and advances 7.1 -278.0 -148.7 -62.5 5.6 71.2 43.5 120.3 64.9 55.9 11.5 32

 33 Corporate equity issues 12.1 11.6 11.9 6.4 1.6 2.2 1.0 0.5 2.6 4.9 2.5 33

 34 Taxes payable (net) -86.0 7.3 6.6 10.6 7.0 0.1 7.4 -52.9 24.1 21.9 31.3 34

 35 Miscellaneous liabilities -42.2 234.8 -41.1 -60.3 107.4 101.9 370.7 -90.0 -150.3 277.3 188.7 35

 36 Foreign direct investment in U.S. 24.8 16.6 12.4 27.2 -2.4 5.4 7.7 2.2 6.2 5.4 6.4 36

 37 Investment by holding companies 113.6 166.8 33.4 76.1 101.2 66.2 110.7 -100.8 70.2 184.6 134.4 37

 38 Investment by funding corporations 35.6 -73.5 -31.5 -33.7 -11.8 -2.5 67.7 -3.4 -93.6 19.2 1.5 38

 39 Other -216.2 125.0 -55.4 -129.8 20.4 32.9 184.7 12.0 -133.0 68.0 46.4 39

 40 Discrepancy -52.9 363.7 176.9 87.4 73.5 28.0 195.2 -281.4 -346.1 544.3 125.8 40

 Memo:

 41 Consumer leases not included above (3) -1.7 -2.6 -0.8 -0.1 0.4 1.5 1.2 2.0 1.8 0.8 0.7 41

(1) U.S.-chartered depository institutions (F.110), foreign banking offices (F.111), banks in U.S.-affiliated areas (F.112), and credit unions (F.113).

(2) Net capital transfers paid from table F.9, line 54.

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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F.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (1) 26.3 82.2 132.2 63.1 12.1 115.7 140.1 78.1 116.1 128.4 98.3 1

 2 Fixed nonresidential investment 26.8 24.2 20.3 19.1 20.0 24.9 24.8 24.5 24.8 25.3 24.3 2

 3 Net acquisition of financial assets 979.7 -489.2 -338.9 302.9 470.6 634.1 743.0 462.2 767.5 563.6 780.6 3

 4 Vault cash 2.7 -2.8 -2.2 8.1 7.1 2.5 -25.8 -4.7 22.0 18.6 -16.9 4

 5 Reserves at Federal Reserve 597.7 44.4 -85.6 222.9 -0.2 454.4 730.3 80.4 885.1 121.7 233.5 5

 6 Federal funds and security repos 54.9 -308.2 0.7 -25.0 61.1 -87.9 -176.1 -86.4 -80.0 -9.3 -0.3 6

 7 Credit market instruments 292.8 -280.4 -120.7 173.7 424.0 253.7 199.9 219.7 63.9 531.4 612.8 7

 8 Open market paper 15.7 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities -23.7 68.1 93.0 -43.7 69.3 -26.1 -80.9 -100.3 -97.8 174.7 155.5 9

 10 Agency- and GSE-backed securities 136.2 168.0 110.1 106.9 35.5 47.7 163.7 60.6 -101.1 67.7 54.9 10

 11 Residential mortgage pass-through securities 153.9 -13.4 -2.2 63.8 18.6 40.8 160.1 59.3 -79.1 22.8 22.0 11

 12 Commercial mortgage pass-through securities 0.0 0.1 -0.2 4.8 8.6 8.5 11.7 15.0 -1.9 9.3 7.2 12

 13 Residential CMOs and other structured MBS 19.8 70.1 129.4 80.3 -10.8 -23.6 -31.4 -45.9 -49.7 32.7 44.9 13

 14 Commercial CMOs and other structured MBS 0.0 0.1 -0.4 9.8 21.0 23.9 19.5 27.3 19.9 29.0 12.8 14

 15 Other -37.5 111.3 -16.6 -51.8 -2.0 -1.9 3.7 4.9 9.7 -26.1 -32.0 15

 16 Municipal securities 19.9 2.4 30.3 42.6 67.8 53.8 53.9 66.7 50.0 44.8 36.2 16

 17 Corporate and foreign bonds -63.2 25.1 -98.2 2.5 -9.0 15.2 -13.7 10.7 50.1 13.6 -75.8 17

 18 Private residential mortgage pass-through securities -25.7 6.6 -9.7 -3.1 15.3 9.9 3.7 13.7 13.1 9.2 -3.4 18

 19 Private commercial mortgage pass-through securities 0.0 1.1 -6.4 -2.5 0.4 -1.2 -0.5 1.8 -4.8 -1.3 -6.5 19

 20 Private residential CMOs and other structured MBS -43.3 -51.6 -70.6 -22.0 -20.8 -14.6 -18.8 -19.9 -6.0 -13.8 -19.3 20

 21 Private commercial CMOs and other structured MBS 0.0 -3.8 -1.4 2.7 4.1 4.6 4.4 2.5 4.2 7.2 5.9 21

 22 Other 5.9 72.9 -10.2 27.3 -8.0 16.5 -2.5 12.7 43.6 12.2 -52.4 22

 23 Depository institution loans n.e.c. 138.7 -285.9 -36.3 163.6 218.6 136.4 76.8 154.2 117.6 197.0 232.4 23

 24 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Mortgages -0.9 -178.1 -149.2 -105.3 13.7 -26.3 -9.6 -5.2 -24.9 -65.5 189.3 25

 26 Consumer credit 70.1 -64.5 -70.3 7.1 28.1 52.9 9.8 32.9 69.9 99.1 20.1 26

 27 Corporate equities 6.3 4.7 -0.6 2.0 2.4 0.8 -2.1 -4.0 1.3 8.1 -2.5 27

 28 Mutual fund shares 1.3 14.8 -5.8 -0.8 -1.1 1.6 2.7 -8.9 5.6 7.1 8.6 28

 29 Security credit -2.2 -3.4 3.2 12.2 -1.9 7.9 11.7 15.6 8.3 -3.9 21.9 29

 30 Life insurance reserves 6.4 0.8 4.5 4.8 7.4 -3.7 4.8 4.7 -33.0 8.7 4.8 30

 31 Miscellaneous assets 19.7 40.9 -132.4 -95.0 -28.1 4.7 -2.3 245.7 -105.7 -119.1 -81.4 31

 32 Net increase in liabilities 1009.9 -375.7 -250.1 370.0 536.7 634.8 761.6 155.4 647.5 974.6 963.1 32

 33 Net interbank liabilities 684.2 -496.4 -201.3 -263.4 -114.2 190.6 375.5 243.4 13.1 130.4 95.9 33

 34 Federal Reserve float -1.5 -0.6 0.7 0.8 0.1 -0.5 -0.4 -0.5 0.6 -1.6 1.7 34

 35 Borrowing from Federal Reserve banks 511.1 -463.1 -96.4 -0.0 -0.1 0.0 -0.2 0.4 0.2 -0.4 -0.2 35

 36 To domestic banking 71.0 7.5 -16.8 40.8 -29.5 38.5 156.5 42.5 -126.5 81.6 40.9 36

 37 To foreign banks 103.6 -40.2 -88.8 -304.9 -84.8 152.5 219.6 200.9 138.7 50.8 53.5 37

 38 Checkable deposits 137.9 94.0 69.6 319.4 176.2 148.2 260.1 -289.3 240.6 381.2 172.8 38

 39 Federal government -39.5 0.3 -0.1 -2.7 0.3 0.3 -0.7 0.3 0.5 0.9 -1.0 39

 40 Rest of the world 31.2 -28.7 -3.8 25.6 -4.1 -2.1 -22.7 -23.0 35.6 1.7 0.3 40

 41 Private domestic 146.2 122.4 73.5 296.5 180.0 150.0 283.4 -266.6 204.5 378.6 173.5 41

 42 Small time and savings deposits 480.6 472.3 271.7 537.1 491.5 256.7 107.7 308.8 524.1 86.3 532.9 42

 43 Large time deposits -63.9 -335.7 -133.8 -13.2 -9.1 23.9 -78.4 34.0 -10.5 150.4 -29.7 43

 44 Federal funds and security repos -9.7 -195.0 -48.1 -81.5 -52.6 -84.7 -90.5 -8.6 -95.1 -144.7 8.2 44

 45 Credit market instruments -0.9 -292.2 -217.6 -50.5 -110.8 -33.5 -111.3 -19.4 -50.1 47.0 -22.6 45

 46 Open market paper 0.2 0.1 -20.1 7.6 -33.1 -27.8 -52.2 -41.1 -27.3 9.3 -5.2 46

 47 Corporate bonds 0.1 -28.5 -49.2 2.4 -82.3 -74.9 -114.0 -93.6 -75.3 -16.6 -27.2 47

 48 Other loans and advances -1.2 -263.9 -148.3 -60.5 4.6 69.2 54.9 115.3 52.5 54.3 9.8 48

 49 Corporate equity issues 12.1 11.6 11.9 6.4 1.6 2.2 1.0 0.5 2.6 4.9 2.5 49

 50 Taxes payable (net) -86.0 7.3 6.6 10.6 7.0 0.1 7.4 -52.9 24.1 21.9 31.3 50

 51 Miscellaneous liabilities -144.4 358.2 -8.9 -94.9 147.2 131.3 290.2 -61.1 -1.2 297.3 171.9 51

 52 Investment by holding companies 113.6 166.8 33.4 76.1 101.2 66.2 110.7 -100.8 70.2 184.6 134.4 52

 53 Other -258.1 191.5 -42.3 -171.0 45.9 65.1 179.5 39.7 -71.4 112.7 37.5 53

 54 Discrepancy 29.8 171.6 200.8 111.1 58.2 91.5 133.8 -253.2 -28.7 514.2 256.6 54

 Memo:

 55 Consumer leases not included above (2) -1.7 -2.6 -0.8 -0.1 0.4 1.5 1.2 2.0 1.8 0.8 0.7 55

(1) Net capital transfers paid from table F.9, line 54.

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 2.2 2.2 2.2 2.8 3.3 3.4 3.4 3.4 3.4 3.5 3.5 1

 2 Fixed nonresidential investment 2.6 2.3 1.9 2.3 2.9 3.0 2.9 3.0 3.0 3.1 3.0 2

 3 Net acquisition of financial assets 156.5 -251.1 50.3 468.1 -15.8 316.5 378.9 850.6 151.1 -114.8 696.3 3

 4 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 -0.0 4

 5 Reserves at Federal Reserve 238.0 45.1 66.7 360.2 -72.2 309.3 410.1 873.2 15.7 -61.9 491.9 5

 6 Federal funds and security repos -177.5 0.1 20.3 31.7 58.2 -1.2 1.9 9.3 72.7 -88.7 92.7 6

 7 Credit market instruments 103.4 -287.5 -24.4 42.5 5.8 -7.2 -84.9 -39.1 74.7 20.4 58.2 7

 8 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities 5.1 22.0 3.5 -0.5 16.1 -9.6 11.8 -50.5 9.4 -8.9 -2.9 9

 10 Agency- and GSE-backed securities -6.5 -19.3 -4.8 4.0 1.5 -6.7 -17.5 -6.4 0.1 -3.1 -11.5 10

 11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds 32.2 -157.8 -9.4 -1.4 -6.2 -34.1 -74.3 -36.6 1.3 -27.0 16.6 12

 13 Depository institution loans n.e.c. 67.6 -126.0 -11.3 42.9 -3.7 43.8 0.0 54.8 62.8 57.5 48.3 13

 14 Other loans and advances -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Mortgages 5.2 -6.4 -2.5 -2.6 -1.9 -0.6 -4.9 -0.4 1.0 1.9 7.8 15

 16 Corporate equities 0.0 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Security credit -10.4 -4.5 3.1 18.8 -7.3 2.5 16.0 -24.0 2.0 16.0 -2.9 17

 18 Miscellaneous assets 3.1 -4.4 -15.3 15.0 -0.3 13.1 35.8 31.1 -14.0 -0.6 56.3 18

 19 Net increase in liabilities 62.9 -76.0 32.4 470.1 -5.7 242.9 398.4 819.9 -171.4 -75.4 566.8 19

 20 Net interbank liabilities 233.0 -152.2 30.7 504.6 -1.9 153.4 256.4 875.6 -347.7 -170.6 149.1 20

 21 To foreign banks 251.8 -161.7 27.0 518.8 -51.2 137.6 162.3 932.7 -300.4 -244.4 139.7 21

 22 To domestic banks -18.8 9.5 3.7 -14.2 49.3 15.9 94.1 -57.1 -47.4 73.9 9.5 22

 23 Checkable deposits 1.7 2.6 5.7 23.7 16.2 30.8 7.5 39.0 34.5 42.2 35.7 23

 24 Small time and savings deposits 0.1 4.4 5.8 13.2 13.8 27.7 20.7 10.8 61.4 17.8 -22.7 24

 25 Large time deposits -120.0 148.0 -46.5 -163.1 -16.2 71.1 64.1 6.5 225.5 -11.8 233.4 25

 26 Federal funds and security repos -156.7 63.5 54.8 54.4 20.6 -12.3 -21.7 -85.4 -8.2 66.1 159.2 26

 27 Acceptance liabilities -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Miscellaneous liabilities 105.0 -142.3 -18.1 37.3 -38.1 -27.8 71.3 -26.6 -136.9 -19.1 12.1 28

 29 Foreign direct investment in U.S. 24.8 16.6 12.4 27.2 -2.4 5.4 7.7 2.2 6.2 5.4 6.4 29

 30 Investment by funding corporations 35.6 -73.5 -31.5 -33.7 -11.8 -2.5 67.7 -3.4 -93.6 19.2 1.5 30

 31 Other 44.6 -85.3 1.1 43.8 -23.9 -30.7 -4.0 -25.5 -49.5 -43.7 4.2 31

 32 Discrepancy -94.0 175.0 -17.6 2.5 10.6 -73.2 19.9 -30.2 -322.1 39.8 -129.0 32

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).
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F.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets -2.9 -7.3 -14.8 -4.1 0.0 8.8 0.7 23.8 7.8 3.0 -12.8 3

 4 Credit market instruments -1.9 -2.8 -19.3 -4.9 -0.1 0.3 -1.1 -0.1 -3.2 5.6 -0.3 4

 5 Treasury securities -0.6 -0.7 0.6 -0.0 -0.6 0.7 -0.1 0.1 0.8 2.2 0.6 5

 6 Agency- and GSE-backed securities -2.0 -3.9 -7.7 -8.0 -2.2 -0.8 -0.7 -1.1 -0.9 -0.4 -0.4 6

 7 Municipal securities 0.5 0.9 -0.9 0.9 -0.8 0.9 0.2 0.2 3.0 0.3 -0.6 7

 8 Corporate and foreign bonds 0.0 1.5 -1.4 3.6 1.0 0.6 1.6 -0.2 0.3 0.6 2.5 8

 9 Depository institution loans n.e.c. -1.7 -0.3 -3.3 1.1 1.0 1.3 0.3 3.6 1.8 -0.6 -0.6 9

 10 Home mortgages 1.4 -0.3 -2.5 -2.4 2.3 -1.1 -0.3 -3.0 -0.6 -0.6 -2.0 10

 11 Commercial mortgages 0.4 -0.0 -4.0 -0.1 -0.8 -1.4 -2.1 0.3 -7.7 4.0 0.2 11

 12 Miscellaneous assets -1.0 -4.5 4.5 0.8 0.2 8.6 1.8 23.9 11.1 -2.6 -12.5 12

 13 Net increase in liabilities -3.4 -1.1 -14.8 -3.1 -0.1 8.5 0.8 26.1 12.1 -4.8 -10.1 13

 14 Net interbank liabilities -0.6 -1.0 0.9 -1.2 -0.4 0.2 1.3 -2.7 1.1 1.2 -3.2 14

 15 Checkable deposits -1.1 1.4 0.5 2.8 2.5 6.3 0.8 16.8 5.7 2.0 -3.5 15

 16 Small time and savings deposits 1.1 -2.9 -5.2 -0.4 -0.1 2.5 1.2 5.9 4.2 -1.2 -2.7 16

 17 Large time deposits 1.1 -2.9 -5.2 -0.4 -0.1 2.5 1.2 5.9 4.2 -1.2 -2.7 17

 18 Miscellaneous liabilities -3.8 4.3 -5.9 -3.9 -2.0 -3.0 -3.6 0.3 -3.1 -5.6 2.1 18

 19 Discrepancy -0.5 6.2 -0.0 1.0 -0.1 -0.3 0.1 2.3 4.3 -7.8 2.8 19

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

F.113 Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 6.5 6.3 8.4 10.0 12.0 7.7 8.2 7.6 7.5 7.5 7.3 1

 2 Fixed nonresidential investment 3.5 3.1 2.4 2.4 2.7 2.8 2.7 2.8 2.8 2.8 2.8 2

 3 Net acquisition of financial assets 41.3 61.0 76.0 53.8 43.3 33.2 59.0 43.9 -5.8 35.9 100.3 3

 4 Reserves at Federal Reserve 3.5 27.5 10.0 11.1 1.2 -5.7 56.8 -62.0 -24.2 6.8 55.5 4

 5 Federal funds and security repos -2.4 0.0 -0.1 15.9 -6.2 -9.6 -44.9 3.6 3.5 -0.7 -6.8 5

 6 Credit market instruments 40.7 34.1 24.9 38.6 47.0 50.3 54.4 61.7 60.2 24.7 75.4 6

 7 Open market paper -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities -1.6 5.4 5.9 -2.5 1.7 -0.2 -0.4 3.5 -2.2 -1.8 3.7 8

 9 Agency- and GSE-backed securities 14.4 27.8 40.9 30.6 14.9 2.2 14.5 15.6 3.6 -25.0 6.7 9

 10 Municipal securities 0.0 0.0 0.0 3.2 1.0 0.3 4.5 -1.2 1.5 -3.5 -0.1 10

 11 Corporate and foreign bonds -8.4 -6.7 -15.7 -0.3 0.3 2.2 4.6 2.9 0.2 1.1 2.7 11

 12 Depository institution loans n.e.c. 4.8 1.3 3.5 6.6 0.1 5.1 -0.4 7.2 -0.0 13.6 0.3 12

 13 Home mortgages 32.2 5.4 0.9 4.5 8.3 18.7 4.6 14.7 31.4 24.0 25.3 13

 14 Consumer credit -0.4 0.9 -10.7 -3.4 20.6 21.9 26.9 18.9 25.7 16.2 36.8 14

 15 Mutual fund shares -0.0 -0.7 0.2 0.3 0.4 -0.1 1.1 -0.8 -0.6 -0.2 0.1 15

 16 Miscellaneous assets -0.4 0.2 41.1 -12.1 0.8 -1.6 -8.5 41.5 -44.7 5.3 -23.9 16

 17 Net increase in liabilities 50.1 68.6 63.8 19.0 38.8 38.2 94.9 38.9 -10.2 29.3 91.4 17

 18 Net interbank liabilities -6.8 -1.6 38.1 -21.9 -13.8 2.2 42.9 2.0 -29.3 -6.7 26.0 18

 19 Shares/deposits 45.1 72.0 34.3 41.5 51.3 32.6 50.6 34.5 15.7 29.6 61.2 19

 20 Checkable 1.6 11.6 5.5 10.7 10.7 7.9 42.6 -11.5 -9.4 9.7 45.4 20

 21 Small time and savings 43.0 43.4 26.1 27.4 34.4 20.1 1.3 45.9 16.9 16.2 6.8 21

 22 Large time 0.5 17.0 2.8 3.4 6.2 4.7 6.7 0.0 8.2 3.8 8.9 22

 23 Federal funds and security repos 2.4 -2.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other loans and advances 8.3 -14.1 -0.4 -2.0 0.9 1.9 -11.4 4.9 12.5 1.7 1.7 24

 25 Miscellaneous liabilities 1.1 14.7 -8.3 1.3 0.3 1.5 12.8 -2.5 -9.0 4.7 2.6 25

 26 Discrepancy 11.8 10.9 -6.3 -27.2 4.8 9.9 41.4 -0.2 0.4 -1.9 -4.5 26
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F.114 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (1) 30.3 41.4 51.4 32.9 27.1 39.6 50.8 36.9 38.7 31.8 20.7 1

 2 Fixed nonresidential investment 20.4 20.1 16.8 17.5 18.7 19.5 19.3 19.3 19.6 19.8 19.8 2

 3 Net acquisition of financial assets 25.1 40.1 -38.2 24.6 24.2 38.7 30.7 47.6 49.8 26.5 69.7 3

 4 Checkable deposits and currency -14.8 -0.3 5.0 -8.5 12.3 -6.7 -18.8 -4.6 -0.1 -3.4 15.6 4

 5 Money market fund shares 12.1 -3.2 -4.0 -5.6 2.2 -2.3 -4.1 -12.8 0.3 7.5 -6.3 5

 6 Security repurchase agreements 0.8 0.1 -0.7 -2.1 0.0 0.0 -0.1 -0.9 0.2 0.8 -0.8 6

 7 Credit market instruments -15.9 33.3 3.9 36.2 1.0 25.3 22.6 13.0 27.2 38.3 27.9 7

 8 Open market paper 5.8 -9.3 -1.9 0.9 -1.4 0.7 0.0 -3.2 1.4 4.4 -1.4 8

 9 Treasury securities -5.6 22.9 3.2 4.6 -6.7 6.0 3.2 -3.9 7.3 17.3 2.0 9

 10 Agency- and GSE-backed securities -11.5 1.9 -0.4 6.9 -8.4 -5.6 -5.3 -5.5 -5.6 -6.1 -9.1 10

 11 Municipal securities 10.6 -12.6 -21.0 -17.4 -2.9 -2.3 -1.1 -1.8 -2.2 -3.9 3.5 11

 12 Corporate and foreign bonds -15.4 30.8 24.3 40.4 19.6 24.2 25.0 24.6 24.5 22.8 31.6 12

 13 Commercial mortgages 0.2 -0.5 -0.3 0.8 0.7 2.3 0.9 2.9 1.8 3.7 1.3 13

 14 Corporate equities 35.4 -2.8 -20.9 2.9 4.6 3.5 5.8 10.7 0.1 -2.6 10.2 14

 15 Mutual fund shares -0.7 0.5 -0.1 -0.7 1.8 1.2 0.9 0.9 0.9 1.8 1.8 15

 16 Trade receivables 1.3 -3.7 0.8 3.4 4.8 3.3 8.1 10.4 6.8 -12.3 29.5 16

 17 Miscellaneous assets 6.8 16.3 -22.2 -1.0 -2.6 14.5 16.4 30.8 14.4 -3.6 -8.2 17

 18 Net increase in liabilities 14.3 -4.3 2.9 16.9 -6.0 15.4 2.5 10.3 5.8 43.2 16.4 18

 19 Security repurchase agreements 1.9 -1.7 0.8 -1.1 0.4 1.4 1.1 1.3 1.5 1.8 2.0 19

 20 Corporate equity issues 0.4 -5.3 -12.7 -10.7 -14.5 -7.6 -3.6 -6.4 -9.5 -11.0 -17.0 20

 21 Taxes payable (net) -28.1 5.3 5.6 -4.4 3.8 19.1 30.4 -8.1 10.7 43.5 9.3 21

 22 Miscellaneous liabilities 40.2 -2.6 9.2 33.1 4.4 2.5 -25.5 23.5 3.1 8.8 22.0 22

 23 Discrepancy -0.8 -23.2 75.7 7.6 -21.7 -3.2 3.2 -19.7 -24.8 28.7 -52.4 23

(1) Net capital transfers paid from table F.9, line 51.

F.115 Life Insurance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving -44.6 13.5 16.6 8.0 2.8 7.0 8.4 7.0 6.2 6.5 3.1 1

 2 Fixed nonresidential investment 14.9 14.6 12.5 13.1 14.0 14.6 14.5 14.4 14.7 14.8 14.8 2

 3 Net acquisition of financial assets 166.0 116.4 181.5 229.0 127.0 102.7 96.9 -38.6 175.9 176.4 257.8 3

 4 Checkable deposits and currency 24.4 -32.1 1.0 2.0 2.7 -9.2 -0.2 -43.4 31.9 -25.3 12.1 4

 5 Money market fund shares 17.5 -5.5 -12.7 7.9 -1.4 -5.9 -27.4 -6.2 10.0 0.1 -5.0 5

 6 Security repurchase agreements 5.2 2.2 0.7 -0.8 -1.6 -0.0 -6.9 -0.5 5.4 2.0 -7.7 6

 7 Credit market instruments 11.6 139.8 151.6 125.3 74.3 74.8 41.9 77.2 53.2 126.9 127.8 7

 8 Open market paper -3.4 11.5 -8.9 -11.2 13.9 3.2 -19.0 -4.6 9.0 27.2 -10.2 8

 9 Treasury securities 35.1 27.7 23.2 18.8 5.5 -9.3 -16.7 -9.2 -6.4 -5.0 12.1 9

 10 Agency- and GSE-backed securities -16.7 5.8 4.0 -1.6 -13.5 -8.6 -6.9 -7.1 -12.6 -7.6 -8.3 10

 11 Municipal securities 5.7 26.1 39.2 9.4 9.7 9.7 10.1 10.2 7.7 10.7 -0.3 11

 12 Corporate and foreign bonds -45.5 97.6 102.9 87.1 45.0 57.6 73.1 64.8 25.7 66.7 116.2 12

 13 Other loans and advances 20.3 -12.6 -0.2 7.9 1.8 3.5 -3.3 6.9 3.5 7.0 4.9 13

 14 Mortgages 16.3 -16.3 -8.6 15.0 11.9 18.8 4.6 16.2 26.3 28.0 13.5 14

 15 Corporate equities 81.8 33.4 45.6 37.7 15.3 13.4 2.8 19.2 -2.8 34.5 30.6 15

 16 Mutual fund shares -10.7 0.0 1.0 1.1 1.3 1.4 1.3 1.4 1.4 1.4 1.4 16

 17 Miscellaneous assets 36.1 -21.4 -5.7 55.7 36.4 28.2 85.4 -86.2 76.9 36.7 98.6 17

 18 Net increase in liabilities 153.1 32.2 145.0 203.7 90.4 87.1 74.4 -32.7 182.5 124.4 224.9 18

 19 Security repurchase agreements -7.3 -0.5 -2.2 0.1 3.1 -0.8 0.5 0.6 -1.8 -2.5 -4.2 19

 20 Corporate equity issues -10.7 -0.9 -4.8 -11.5 -9.9 -9.2 -6.6 -9.7 -10.7 -9.6 -13.2 20

 21 Other loans and advances 26.2 -6.6 -3.2 1.8 4.8 7.8 5.2 6.5 -2.9 22.5 7.7 21

 22 Life insurance reserves 64.2 26.3 13.6 79.9 -12.2 29.8 11.5 28.0 45.8 33.8 65.9 22

 23 Pension entitlements (2) 107.6 -45.7 93.0 77.9 72.6 47.4 37.0 26.4 58.8 67.6 76.0 23

 24 Taxes payable (net) -19.7 -7.0 2.6 5.2 -4.6 -2.3 -0.6 -6.7 0.0 -1.8 6.1 24

 25 Miscellaneous liabilities -7.2 66.7 46.0 50.4 36.6 14.4 27.4 -77.6 93.3 14.5 86.7 25

 26 Discrepancy -72.5 -85.3 -32.3 -30.5 -47.8 -23.1 -28.6 -1.5 -1.9 -60.4 -44.7 26

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on F.115.g and F.115.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 25).
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32 Z.1, June 5, 2014

F.116 Private and Public Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 1.2 1.4 1.3 1.3 1.3 1.4 1.4 1.4 1.4 1.4 1.4 1

 2 Fixed nonresidential investment 2.2 1.6 1.4 1.1 1.3 1.3 1.3 1.3 1.4 1.4 1.4 2

 3 Net acquisition of financial assets (2) 431.6 458.9 505.2 407.1 428.4 460.1 417.0 441.9 453.8 527.8 454.4 3

 4 Checkable deposits and currency -5.6 -2.9 2.7 5.9 -0.4 0.3 0.5 2.1 -1.0 -0.2 2.4 4

 5 Time and savings deposits -3.5 4.0 4.9 4.2 -2.1 7.2 5.0 1.1 2.9 19.6 13.3 5

 6 Money market fund shares 0.4 -12.2 -7.8 15.5 -7.0 6.6 5.0 0.7 -1.9 22.5 5.6 6

 7 Security repurchase agreements -1.2 0.1 0.1 0.1 -0.3 0.6 0.4 0.1 0.2 1.7 1.2 7

 8 Credit market instruments -6.1 -65.1 153.3 111.2 34.4 119.1 55.4 140.6 -322.3 602.8 29.9 8

 9 Open market paper -6.1 1.6 3.0 4.5 -3.5 4.2 7.3 0.2 -2.6 12.1 17.7 9

 10 Treasury securities 15.1 64.3 51.2 60.4 78.9 68.9 68.0 41.7 -339.4 505.2 37.3 10

 11 Agency- and GSE-backed securities -30.4 -9.5 8.2 17.2 40.1 25.6 23.0 41.9 18.6 18.8 -16.8 11

 12 Corporate and foreign bonds 26.2 -116.4 87.9 34.4 -76.9 26.0 -37.7 61.9 6.5 73.4 -2.8 12

 13 Mortgages -10.8 -5.1 2.4 -4.7 -3.2 -5.4 -4.9 -4.8 -5.0 -7.0 -5.5 13

 14 Corporate equities 35.9 -68.8 -50.0 -124.2 -36.7 -157.1 -129.1 -117.7 -157.1 -224.7 -168.3 14

 15 Mutual fund shares 61.2 48.9 16.9 -59.5 4.6 15.2 28.8 17.8 34.5 -20.1 27.7 15

 16 Miscellaneous assets 350.5 555.0 385.2 454.0 435.9 468.2 451.0 397.2 898.5 126.1 542.6 16

 17 Claims of pension fund on sponsor (3) 303.6 402.0 280.7 317.4 393.4 340.7 220.4 621.5 976.5 -455.5 300.4 17

 18 Other -17.3 19.4 30.4 45.2 -3.1 22.6 -6.6 42.0 22.2 32.8 76.2 18

 19 Pension entitlements (liabilities) (4) 432.7 459.2 505.3 407.0 428.3 460.1 417.0 441.9 453.8 527.8 454.3 19

 Memo:

 20 Household retirement assets (5) 764.1 562.1 632.6 446.3 583.0 354.1 51.3 350.1 733.7 281.1 ND 20

 21 Defined benefit plans (6) 345.4 348.5 358.2 348.7 340.6 346.1 345.6 346.2 345.8 346.8 345.7 21

 22 Defined contribution plans (7) 86.2 110.4 147.1 58.5 87.8 114.0 71.4 95.7 108.0 181.0 108.7 22

 23 Individual retirement plans (IRAs) (8) 248.3 136.5 51.8 -26.6 94.2 -136.8 -396.7 -125.1 242.2 -267.8 ND 23

 24 Annuities at life insurance companies (9) 84.2 -33.3 75.6 65.7 60.4 30.7 31.0 33.3 37.7 21.1 ND 24

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Unfunded defined benefit pension entitlements.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(5) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(6) Additional detail on private defined benefit plans is available on table L.117.b.

(7) Additional detail on private defined contribution plans is available on table L.117.c.

(8) IRA assets are not included above. See table L.226.i for a sectoral distribution of IRA accounts.

(9) Annuities held in IRAs at life insurance companies are excluded. They are included in line 23.
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F.117 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 1

 2 Fixed nonresidential investment 0.8 0.6 0.5 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 2

 3 Net acquisition of financial assets (2) 126.3 149.4 182.4 86.4 125.1 144.5 117.8 180.0 140.7 139.6 144.2 3

 4 Checkable deposits and currency -5.5 -2.9 2.1 5.7 -0.3 -0.5 -0.1 1.8 -1.4 -2.4 1.1 4

 5 Time and savings deposits -4.1 2.8 -0.9 1.4 -1.8 -0.5 -0.0 -1.5 -0.9 0.3 1.7 5

 6 Money market fund shares 5.1 -8.8 -10.1 16.8 -3.9 -1.5 -0.3 -2.0 -5.9 2.1 -6.6 6

 7 Security repurchase agreements -1.0 0.2 -0.2 0.0 -0.1 -0.1 -0.0 -0.1 -0.2 0.0 0.2 7

 8 Credit market instruments -4.9 12.7 123.2 73.2 12.5 44.8 28.6 70.0 44.2 36.3 -2.9 8

 9 Open market paper -5.9 1.0 -2.7 2.1 -2.8 -4.0 1.9 -2.6 -6.7 -8.5 5.4 9

 10 Treasury securities 6.4 35.0 33.2 27.8 48.0 40.1 60.1 51.7 27.5 21.2 15.8 10

 11 Agency- and GSE-backed securities -0.2 -6.4 6.5 3.3 17.1 13.7 9.3 16.3 13.6 15.4 -7.4 11

 12 Corporate and foreign bonds 2.9 -14.5 83.4 44.6 -47.3 -2.2 -40.0 7.5 12.8 11.0 -14.2 12

 13 Mortgages -8.0 -2.4 2.8 -4.6 -2.5 -2.8 -2.7 -2.8 -3.0 -2.8 -2.5 13

 14 Corporate equities -73.2 -95.4 25.2 -63.8 11.5 4.5 14.6 14.8 -6.0 -5.3 -4.8 14

 15 Mutual fund shares 85.5 56.5 35.1 1.5 54.7 27.0 38.9 26.7 43.4 -1.1 39.5 15

 16 Miscellaneous assets 124.3 184.3 8.2 51.6 52.7 70.8 36.0 70.4 67.4 109.6 115.9 16

 17 Unallocated insurance contracts (3) -13.9 80.0 -7.1 17.7 6.0 7.6 6.5 5.9 11.1 6.9 24.7 17

 18 Contributions receivable 14.7 -8.4 15.4 3.0 -0.9 -1.0 0.8 0.4 -1.1 -3.9 -0.8 18

 19 Claims of pension fund on sponsor (4) 123.0 82.7 -14.9 -12.5 50.1 54.9 48.9 36.4 50.2 84.1 32.6 19

 20 Other 0.4 30.0 14.7 43.5 -2.5 9.3 -20.2 27.8 7.1 22.5 59.5 20

 21 Pension entitlements (liabilities) (5) 126.7 149.5 182.5 86.3 125.1 144.5 117.8 180.0 140.6 139.5 144.1 21

 Memo:

 Net acquisition of financial assets (6)

 22 Defined benefit plans 57.1 57.3 53.3 50.9 50.7 50.7 50.7 50.7 50.7 50.7 50.7 22

 23 Defined contribution plans 69.2 92.2 129.1 35.5 74.4 93.8 67.1 129.3 90.0 88.9 93.4 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

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

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on F.117.b and F.117.c.
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34 Z.1, June 5, 2014

F.118 State and Local Government Employee Retirement Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.7 0.9 0.8 0.8 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1

 2 Fixed nonresidential investment 1.4 1.0 0.9 0.7 0.8 0.9 0.8 0.9 0.9 0.9 0.9 2

 3 Net acquisition of financial assets (2) 208.9 215.8 220.7 209.4 203.3 208.4 208.4 208.4 208.4 208.4 208.4 3

 4 Checkable deposits and currency -0.1 -0.0 0.5 0.2 -0.1 0.9 0.6 0.3 0.4 2.2 1.3 4

 5 Time and savings deposits 0.6 1.2 5.9 2.8 -0.3 7.7 5.0 2.6 3.8 19.3 11.5 5

 6 Money market fund shares -4.8 -3.4 2.3 -1.4 -3.1 8.1 5.3 2.8 4.0 20.3 12.2 6

 7 Security repurchase agreements -0.2 -0.1 0.3 0.1 -0.1 0.7 0.4 0.2 0.3 1.7 1.0 7

 8 Credit market instruments -25.1 -85.2 19.2 12.4 6.6 64.7 40.8 114.9 14.8 88.3 26.7 8

 9 Open market paper -0.2 0.5 5.7 2.4 -0.7 8.2 5.4 2.8 4.1 20.6 12.3 9

 10 Treasury securities -15.9 21.9 7.8 9.2 18.8 16.1 17.5 30.6 12.4 4.1 9.5 10

 11 Agency- and GSE-backed securities -29.9 -3.2 1.1 13.2 21.4 13.6 15.9 27.6 6.8 4.2 -6.5 11

 12 Municipal securities -0.1 0.1 0.7 -0.7 -0.9 -0.1 -0.3 -0.2 -0.3 0.3 -0.0 12

 13 Corporate and foreign bonds 23.8 -101.9 4.4 -11.5 -31.3 29.5 4.5 56.2 -6.1 63.3 14.5 13

 14 Mortgages -2.8 -2.7 -0.4 -0.1 -0.7 -2.6 -2.2 -1.9 -2.0 -4.2 -3.1 14

 15 Corporate equities 117.4 17.8 -80.6 -56.2 -44.1 -170.7 -160.0 -141.7 -141.9 -239.3 -170.7 15

 16 Mutual fund shares -24.3 -7.6 -18.2 -61.0 -50.1 -11.7 -10.1 -8.9 -9.0 -19.0 -11.7 16

 17 Miscellaneous assets 145.3 293.2 291.1 312.5 294.5 308.8 326.4 238.2 335.8 334.8 338.1 17

 18 Claims of pension fund on sponsor (3) 163.0 303.7 275.4 310.7 295.0 295.5 312.8 224.0 320.6 324.6 321.4 18

 19 Other -17.7 -10.6 15.7 1.7 -0.5 13.3 13.6 14.2 15.1 10.3 16.7 19

 20 Pension entitlements (liabilities) (4) 209.5 215.9 220.7 209.3 203.3 208.3 208.3 208.3 208.3 208.3 208.3 20

(1) Defined benefit plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Unfunded defined benefit pension entitlements.

(4) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

F.119 Federal Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets (1) 96.5 93.7 102.1 111.4 99.9 107.3 90.8 53.6 104.8 179.9 101.9 1

 2 Credit market instruments 23.9 7.4 10.9 25.6 15.4 9.6 -14.0 -44.3 -381.4 478.2 6.1 2

 3 Treasury securities (2) 24.7 7.4 10.1 23.4 12.1 12.6 -9.5 -40.6 -379.4 479.9 12.1 3

 4 Agency- and GSE-backed securities -0.2 0.0 0.6 0.7 1.5 -1.7 -2.2 -1.9 -1.8 -0.8 -2.9 4

 5 Corporate and foreign bonds -0.5 -0.0 0.2 1.4 1.7 -1.3 -2.3 -1.8 -0.2 -0.9 -3.1 5

 6 Corporate equities -8.4 8.8 5.4 -4.2 -4.1 9.1 16.3 9.3 -9.2 20.0 7.2 6

 7 Miscellaneous assets 80.9 77.5 85.9 90.0 88.6 88.6 88.6 88.6 495.4 -318.3 88.6 7

 8 Nonmarketable Treasury securities (3) 63.3 61.9 65.7 70.8 40.4 98.2 229.9 -272.6 -110.3 545.9 142.2 8

 9 Claims of pension fund on sponsor (4) 17.6 15.6 20.2 19.2 48.2 -9.7 -141.3 361.1 605.7 -864.1 -53.6 9

 10 Pension entitlements (liabilities) (5) 96.5 93.7 102.1 111.4 99.9 107.3 90.8 53.6 104.8 179.9 101.9 10

 Memo:

 Net acquisition of financial assets

 11 Defined benefit plans (6) 79.5 75.5 84.2 88.4 86.6 87.1 86.5 87.2 86.8 87.8 86.6 11

 12 Defined contibution plans (7) 16.9 18.2 18.0 23.0 13.3 20.2 4.3 -33.6 18.0 92.1 15.3 12

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes nonmarketable Treasury securities held by the Thrift Savings Plan.

(3) 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.

(4) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(6) Includes the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and disability fund,

 and National Railroad Retirement Investment Trust.

(7) Thrift Savings Plan.
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F.120 Money Market Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 724.2 -498.7 -503.2 -112.8 7.1 28.7 -142.8 85.0 270.2 -97.8 -91.1 1

 2 Foreign deposits -14.6 11.6 8.7 -62.9 0.4 -9.6 21.8 -46.7 -3.2 -10.2 -57.3 2

 3 Checkable deposits and currency 5.6 10.5 -3.7 5.8 -3.6 -3.2 23.5 49.6 -84.6 -1.2 55.3 3

 4 Time and savings deposits 102.7 169.9 -107.7 -56.3 32.8 59.4 -32.8 82.0 233.2 -44.8 -9.5 4

 5 Security repurchase agreements -63.5 -62.4 -0.6 11.1 54.2 -51.7 -208.3 -133.4 88.0 46.8 148.2 5

 6 Credit market instruments 727.9 -619.9 -396.6 -9.8 -82.7 30.9 74.5 117.6 83.7 -152.1 -213.1 6

 7 Open market paper -56.1 -108.0 -116.3 -40.0 -13.3 11.3 49.2 137.3 -30.8 -110.5 19.1 7

 8 Treasury securities 399.5 -171.3 -71.0 107.9 14.5 30.4 54.1 -17.3 89.7 -5.1 -139.4 8

 9 Agency- and GSE-backed securities 520.3 -213.1 -140.2 0.9 -60.2 17.6 34.0 34.8 30.8 -29.4 -23.7 9

 10 Municipal securities 12.9 -69.4 -53.4 -29.4 -20.6 -28.3 -65.9 11.1 0.4 -58.9 -15.7 10

 11 Corporate and foreign bonds -148.8 -58.1 -15.7 -49.1 -3.0 0.0 3.1 -48.4 -6.4 51.7 -53.3 11

 12 Miscellaneous assets -33.9 -8.3 -3.4 -0.8 6.1 2.8 -21.4 15.9 -46.8 63.6 -14.7 12

 13 Net share issues (liabilities) 724.2 -498.7 -503.2 -112.8 7.1 28.7 -142.8 85.0 270.2 -97.8 -91.1 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.121 Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving -52.7 -40.7 -24.9 -35.3 -33.2 -11.0 -19.6 -8.3 -8.2 -8.0 -3.7 1

 2 Net acquisition of financial assets -9.9 497.1 370.1 338.4 624.9 635.6 951.2 507.4 673.9 409.7 543.2 2

 3 Security repurchase agreements -7.4 28.6 -15.8 -28.8 54.1 93.0 180.8 81.1 103.0 6.9 59.7 3

 4 Credit market instruments 32.4 387.1 353.6 359.4 642.0 363.9 670.9 257.6 226.8 300.3 352.8 4

 5 Open market paper -62.5 28.6 -13.9 -26.3 27.5 27.7 -57.5 32.6 63.1 72.6 -139.2 5

 6 Treasury securities 18.5 74.0 121.0 73.8 120.6 59.4 220.2 -3.7 -18.0 39.1 172.5 6

 7 Agency- and GSE-backed securities -23.4 50.0 78.4 107.0 89.4 -28.5 11.8 -26.3 -80.6 -18.8 -44.6 7

 8 Municipal securities 17.7 89.4 46.7 15.7 86.2 -13.5 76.8 -22.5 -80.9 -27.3 28.8 8

 9 Corporate and foreign bonds 69.7 143.8 122.3 170.3 306.0 279.3 388.7 207.6 315.2 205.9 310.3 9

 10 Other loans and advances 12.4 1.3 -0.8 18.9 12.2 39.4 30.8 69.9 28.0 28.8 25.0 10

 11 Corporate equities -38.1 86.5 44.3 4.9 -38.1 159.6 54.6 165.3 214.7 204.0 130.8 11

 12 Miscellaneous assets 3.2 -5.1 -12.0 2.9 -33.1 19.1 44.9 3.4 129.5 -101.4 -0.0 12

 13 Net share issues (liabilities) -9.9 497.1 370.1 338.4 624.9 635.6 951.2 507.4 673.9 409.7 543.2 13

 14 Discrepancy -52.7 -40.7 -24.9 -35.3 -33.2 -11.0 -19.6 -8.3 -8.2 -8.0 -3.7 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.122 Closed-End and Exchange-Traded Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 Closed-end funds

 1 Net acquisition of financial assets -61.9 7.6 0.6 -2.9 2.4 -3.2 17.6 14.0 -18.9 -25.5 6.4 1

 2 Credit market instruments -40.5 10.5 5.3 -1.7 11.1 13.4 30.6 24.2 -2.8 1.4 2.3 2

 3 Treasury securities -2.4 1.2 0.7 -0.3 0.3 0.6 2.1 0.5 -0.2 -0.0 0.3 3

 4 Municipal securities -13.3 3.3 0.4 0.9 3.3 -1.7 1.9 -0.2 -6.0 -2.4 3.4 4

 5 Corporate and foreign bonds -24.8 6.0 4.2 -2.3 7.5 14.5 26.6 23.9 3.5 3.9 -1.3 5

 6 Corporate equities -21.3 -2.9 -4.8 -1.2 -8.6 -16.6 -13.1 -10.2 -16.2 -27.0 4.1 6

 7 Net share issues (liabilities) -61.9 7.6 0.6 -2.9 2.4 -3.2 17.6 14.0 -18.9 -25.5 6.4 7

 Exchange-traded funds

 8 Net acquisition of financial assets 177.2 116.5 118.0 117.6 185.2 179.0 207.7 60.2 214.4 233.9 57.3 8

 9 Credit market instruments 23.0 46.0 29.7 46.1 52.3 12.2 28.1 13.1 17.3 -9.7 43.8 9

 10 Treasury securities 7.4 14.7 9.2 11.4 1.2 -6.5 -2.9 4.8 -0.7 -27.0 8.7 10

 11 Municipal securities 1.7 3.6 1.7 1.0 3.6 -0.8 2.9 -1.8 -4.0 -0.3 1.5 11

 12 Corporate and foreign bonds 13.9 27.6 18.7 33.6 47.6 19.5 28.2 10.1 22.0 17.5 33.6 12

 13 Corporate equities 154.2 70.5 88.3 71.6 132.9 166.8 179.6 47.1 197.1 243.6 13.5 13

 14 Net share issues (liabilities) 177.2 116.5 118.0 117.6 185.2 179.0 207.7 60.2 214.4 233.9 57.3 14
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F.123 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 6.7 9.6 10.6 8.8 8.5 -128.1 -38.0 -262.8 -55.9 -155.9 -67.5 1

 2 Fixed nonresidential investment 1.7 0.9 3.5 3.3 3.3 3.5 3.4 3.4 3.5 3.5 3.5 2

 3 Net acquisition of financial assets 233.5 -360.8 -274.1 -205.7 -176.0 104.4 137.9 -34.3 254.4 59.6 -518.2 3

 4 Checkable deposits and currency 39.7 11.1 -36.0 9.3 -20.1 29.0 46.1 -49.5 102.5 17.0 -144.7 4

 5 Time and savings deposits 21.9 -42.8 0.3 -12.7 -9.1 1.1 -2.7 4.8 10.8 -8.5 10.3 5

 6 Federal funds and security repos -28.3 7.5 20.7 -38.9 38.6 1.5 171.1 -169.3 -71.4 75.5 -100.1 6

 7 Credit market instruments 242.9 -337.8 -288.4 -163.2 -189.4 59.8 -137.9 180.6 216.0 -19.5 -229.4 7

 8 Open market paper 14.1 3.0 0.2 -3.4 -3.1 1.0 3.1 0.5 3.0 -2.5 1.3 8

 9 Treasury securities 1.2 19.9 45.9 17.6 -31.2 -9.9 22.3 3.6 28.5 -94.1 24.4 9

 10 Agency- and GSE-backed securities 207.0 -27.4 -85.1 -18.1 -48.3 -22.7 -39.9 -32.5 8.6 -27.2 -17.7 10

 11 Municipal securities -2.0 -2.2 -4.2 -3.9 -4.1 -3.5 -2.6 -5.9 -4.1 -1.4 -3.0 11

 12 Corporate and foreign bonds -77.7 -48.6 -29.6 -30.8 -50.0 -59.4 -22.9 -45.2 -118.3 -51.2 -24.8 12

 13 Other loans and advances 38.1 -284.8 -144.7 -64.2 18.6 81.9 28.9 141.9 63.4 93.2 13.1 13

 14 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Farm Credit System 4.8 -0.2 7.2 -3.5 8.3 2.9 -19.7 15.2 1.4 14.8 -6.0 15

 16 FHLB loans 33.3 -284.6 -151.9 -60.7 10.3 79.0 48.7 126.7 62.0 78.4 19.1 16

 17 Mortgages 62.2 2.4 -71.0 -60.5 -71.4 72.5 -126.8 118.2 234.9 63.7 -222.9 17

 18 Home 8.8 -23.2 -76.4 -66.5 -82.5 90.4 -116.4 129.2 256.0 92.6 -208.7 18

 19 Consolidated trusts (2) 0.0 0.0 -192.7 -72.5 -44.9 148.0 62.9 160.2 238.1 130.6 -66.0 19

 20 Other 8.8 -23.2 116.3 5.9 -37.6 -57.6 -179.3 -31.0 18.0 -38.0 -142.7 20

 21 Multifamily residential 42.5 14.2 2.0 2.8 6.2 -21.9 -14.1 -15.4 -25.1 -33.2 -18.5 21

 22 Consolidated trusts (2) 0.0 0.0 25.3 24.5 27.5 18.9 26.2 21.2 10.6 17.5 10.3 22

 23 Other 42.5 14.2 -23.3 -21.7 -21.3 -40.8 -40.3 -36.6 -35.7 -50.7 -28.7 23

 24 Farm 10.9 11.4 3.4 3.3 4.9 4.1 3.8 4.4 3.9 4.3 4.3 24

 25 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous assets -42.6 1.2 29.3 -0.1 4.1 13.1 61.3 -0.8 -3.5 -4.8 -54.1 26

 27 Net increase in liabilities 326.0 -360.2 -237.8 -208.1 -146.6 100.5 35.1 132.9 34.5 199.5 -375.1 27

 28 Federal funds and security repos -1.0 -0.1 0.1 -0.9 -0.4 0.0 0.9 -0.8 -0.1 0.0 0.1 28

 29 Credit market instruments 261.3 -518.4 -233.8 -187.2 -154.6 107.5 43.1 136.7 40.2 210.1 -355.5 29

 30 GSE issues (4) 261.3 -518.4 -233.8 -187.2 -154.6 107.5 43.1 136.7 40.2 210.1 -355.5 30

 31 Consolidated trusts (2) 0.0 0.0 -167.4 -48.0 -17.4 166.8 89.1 181.4 248.7 148.1 -55.7 31

 32 Other 261.3 -518.4 -66.4 -139.2 -137.2 -59.3 -45.9 -44.7 -208.5 62.0 -299.8 32

 33 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Corporate equities 27.6 96.0 38.1 29.2 14.5 2.4 7.8 -10.7 3.3 9.2 -5.9 34

 35 Miscellaneous liabilities 38.1 62.3 -42.2 -49.2 -6.1 -9.4 -16.7 7.7 -8.9 -19.8 -13.8 35

 36 Discrepancy 97.5 9.3 43.4 3.1 34.6 -135.6 -144.2 -99.0 -279.4 -19.6 72.0 36

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table F.124) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.124 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 507.4 458.3 186.9 165.3 132.2 132.4 138.8 88.9 158.3 143.5 101.8 1

 2 Home mortgages 502.6 445.6 175.8 148.0 105.0 98.8 110.0 51.4 123.5 110.4 82.2 2

 3 Multifamily residential mortgages 4.6 13.0 11.3 19.4 27.0 33.7 29.1 37.7 34.8 33.2 19.7 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.1 -0.2 -0.2 -2.1 0.3 -0.2 -0.2 -0.1 -0.1 -0.2 -0.1 5

 6 Net increase in pool securities (liabilities)(2) 507.4 458.3 186.9 165.3 132.2 132.4 138.8 88.9 158.3 143.5 101.8 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.123). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
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F.125 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.5 0.4 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets -331.6 -613.6 -411.9 -172.6 -143.8 -100.2 -153.1 -141.2 -75.5 -31.0 -111.1 3

 4 Treasury securities -13.6 -18.3 -13.8 -10.9 -5.8 1.0 -11.3 2.6 6.8 5.7 2.5 4

 5 Agency- and GSE-backed securities (1) -26.0 -224.2 -96.0 -3.3 -0.0 -0.2 -0.6 -0.3 -0.1 0.2 0.0 5

 6 Other loans and advances 37.9 -51.1 -38.9 -5.4 -0.6 -11.5 -43.6 -12.8 14.1 -3.6 14.6 6

 7 Mortgages (2) -271.5 -248.0 -211.6 -144.6 -134.7 -82.6 -101.5 -109.3 -85.0 -34.8 -120.3 7

 8 Home -231.7 -202.0 -159.1 -119.3 -104.9 -83.4 -71.1 -94.7 -84.7 -83.1 -61.6 8

 9 Multifamily residential -10.8 -6.1 -8.6 -7.7 -9.6 -6.1 -13.8 -11.2 -2.1 2.5 -4.8 9

 10 Commercial -28.9 -39.9 -43.9 -17.6 -20.2 6.9 -16.6 -3.4 1.8 45.8 -53.9 10

 11 Consumer credit -42.3 -37.8 -42.3 -4.1 3.8 -1.4 8.1 -5.8 -4.9 -2.8 -2.1 11

 12 Trade credit -16.1 -34.3 -9.5 -4.2 -6.4 -5.4 -4.2 -15.6 -6.4 4.4 -5.7 12

 13 Net increase in liabilities -332.0 -614.0 -412.2 -172.6 -143.8 -100.2 -153.1 -141.2 -75.5 -31.0 -111.1 13

 14 Commercial paper -83.9 -266.2 -40.3 -24.1 -9.0 -7.1 11.1 -13.4 -11.6 -14.4 -22.3 14

 15 Corporate bonds (net) (3) -248.2 -347.8 -371.8 -148.4 -134.7 -93.1 -164.1 -127.8 -63.9 -16.6 -88.8 15

 16 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 16

 Memo:

 Securitized assets not included above

 17 Consumer leases (4) -0.4 -0.4 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 REIT assets (5) -46.7 -26.8 -0.5 -3.8 1.3 2.6 1.3 7.1 1.4 0.8 -1.0 18

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Net issuance less net acquisition of corporate bonds held as assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.

(5) Included in table F.127.

F.126 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 90.3 93.5 65.9 93.1 127.0 73.5 84.9 70.3 74.3 64.5 51.4 1

 2 Fixed nonresidential investment 42.1 15.5 32.8 44.3 54.0 55.9 55.2 55.6 55.7 57.1 56.8 2

 3 Net acquisition of financial assets -56.7 -184.4 -213.2 -19.2 -70.6 -20.9 -46.4 5.6 -43.9 1.1 -14.2 3

 4 Checkable deposits and currency 0.3 0.5 -1.7 5.1 -3.8 4.2 9.3 -0.7 16.7 -8.5 4.9 4

 5 Time and savings deposits 0.8 1.6 -5.2 15.4 -11.5 12.7 28.0 -2.0 50.1 -25.4 14.8 5

 6 Credit market instruments -62.1 -214.9 -103.0 -45.8 -29.6 -31.8 -35.2 23.4 -13.4 -102.1 -24.6 6

 7 Corporate and foreign bonds 3.0 6.3 -19.8 0.9 -6.3 -10.8 -14.8 -19.7 -0.4 -8.1 15.6 7

 8 Other loans and advances 16.9 -91.0 -15.2 3.0 11.2 2.0 20.9 38.8 5.1 -56.6 -5.0 8

 9 Mortgages -64.2 -47.8 -54.6 -32.3 -26.7 -22.5 -29.3 -10.6 -22.0 -28.0 -20.2 9

 10 Consumer credit -17.9 -82.4 -13.4 -17.4 -7.8 -0.6 -12.1 14.9 4.0 -9.4 -15.0 10

 11 Miscellaneous assets 4.4 28.4 -103.3 6.1 -25.7 -6.0 -48.5 -15.2 -97.3 137.1 -9.4 11

 12 Net increase in liabilities -69.1 -250.2 -233.1 -26.0 -82.1 -21.6 -60.0 -2.3 -53.0 28.8 -44.5 12

 13 Credit market instruments -79.4 -156.2 -174.9 -13.5 -56.7 4.2 -49.5 0.1 59.3 6.9 -65.3 13

 14 Open market paper -22.6 -38.8 1.7 10.0 8.2 -10.3 -32.6 5.8 31.6 -46.1 -25.4 14

 15 Corporate bonds -49.6 -87.0 -111.7 -39.4 -81.4 4.4 -19.9 -14.0 24.4 27.1 -19.8 15

 16 Depository institution loans n.e.c. -7.1 -30.4 -64.9 15.9 16.4 10.1 3.0 8.2 3.4 25.8 -20.1 16

 17 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Taxes payable -0.1 -2.8 0.3 0.5 0.2 0.1 0.8 -0.6 0.9 -0.9 0.6 18

 19 Miscellaneous liabilities 10.4 -91.2 -58.5 -13.0 -25.5 -25.9 -11.3 -1.7 -113.2 22.8 20.2 19

 20 Foreign direct investment in U.S. 12.2 12.8 13.2 7.5 -2.2 -0.7 -3.8 2.5 1.0 -2.4 -0.7 20

 21 Investment by parent -8.4 -32.6 -12.8 -12.0 -0.9 -1.0 -9.5 8.8 1.5 -5.0 21.2 21

 22 Other 6.5 -71.5 -58.8 -8.5 -22.5 -24.1 2.0 -13.0 -115.7 30.1 -0.2 22

 23 Discrepancy 35.8 12.2 13.2 42.0 61.6 17.0 16.1 6.9 9.6 35.2 -35.6 23

 Memo:

 24 Consumer leases not included above (2) -11.8 -25.7 -16.5 7.9 24.3 23.3 23.1 29.4 26.9 13.8 19.2 24

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.125.
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F.127 Real Estate Investment Trusts (REITs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving -14.5 5.5 -5.9 -5.8 3.0 4.2 3.6 5.9 2.2 5.2 2.4 1

 2 Fixed nonresidential investment 5.8 3.6 2.8 2.7 3.0 3.2 3.0 3.1 3.3 3.3 3.2 2

 3 Multifamily residential investment 0.1 0.7 4.0 6.5 5.3 14.7 46.3 2.3 -6.6 17.0 -3.6 3

 4 Net acquisition of financial assets -67.6 12.4 39.7 131.2 161.0 -87.5 5.0 -23.0 -125.6 -206.4 15.9 4

 5 Checkable deposits and currency 1.8 12.4 -5.7 2.5 7.7 -1.3 22.3 -13.5 9.7 -23.5 -4.3 5

 6 Credit market instruments -68.6 -10.3 44.1 120.2 127.6 -97.8 -39.2 -45.9 -81.0 -225.1 -25.9 6

 7 Agency- and GSE-backed securities 0.7 15.6 38.2 104.7 109.5 -95.6 -46.7 -73.4 -82.7 -179.7 -33.7 7

 8 Corporate and foreign bonds -22.8 4.3 7.2 3.8 9.5 -0.2 13.0 -0.4 1.1 -14.6 -4.7 8

 9 Mortgages -46.5 -30.2 -1.3 11.7 8.6 -2.0 -5.5 27.8 0.6 -30.8 12.6 9

 10 Home -46.1 -25.2 0.2 11.0 6.9 -3.3 0.8 18.3 0.0 -32.3 4.3 10

 11 Multifamily residential -0.9 -2.0 -0.3 -0.2 0.1 0.5 1.1 2.6 -0.4 -1.2 -0.8 11

 12 Commercial 0.4 -2.9 -1.2 0.9 1.5 0.8 -7.3 6.8 1.0 2.7 9.1 12

 13 Miscellaneous assets -0.8 10.2 1.3 8.5 25.8 11.6 21.9 36.4 -54.3 42.2 46.1 13

 14 Net increase in liabilities -56.1 2.5 62.3 168.0 211.0 -1.2 50.4 58.9 -77.3 -36.9 50.5 14

 15 Security repurchase agreements -12.3 11.1 29.9 97.7 102.4 -66.6 5.8 -48.9 -84.1 -139.3 -47.2 15

 16 Credit market instruments -53.8 -27.6 0.1 25.6 35.5 43.2 8.0 39.6 38.0 87.3 50.2 16

 17 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds -60.3 -26.6 1.0 7.6 26.7 38.4 10.9 26.6 34.6 81.5 30.3 18

 19 Depository institution loans n.e.c. -0.3 -12.7 -1.8 4.6 4.0 -2.9 -23.5 8.3 17.8 -14.4 12.1 19

 20 Mortgages 6.8 11.8 0.8 13.5 4.8 7.8 20.6 4.6 -14.3 20.2 7.8 20

 21 Corporate equity issues 12.8 24.2 28.2 37.5 47.6 46.2 64.2 63.1 24.9 32.6 18.9 21

 22 Miscellaneous liabilities -2.7 -5.3 4.1 7.1 25.4 -24.1 -27.6 5.1 -56.2 -17.5 28.6 22

 23 Discrepancy -8.7 -8.5 10.0 21.8 44.8 72.7 -0.2 82.5 53.9 154.5 37.5 23

 Memo:

 24 Securitized assets included above -46.7 -26.8 -0.5 -3.8 1.3 2.6 1.3 7.1 1.4 0.8 -1.0 24

 25 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Home mortgages -40.6 -25.7 1.1 -0.7 3.7 4.0 1.7 8.2 0.5 5.7 -0.2 26

 27 Multifamily residential mortgages -0.0 -0.0 -0.0 -0.0 -0.0 0.0 0.1 -0.0 -0.0 -0.1 -0.2 27

 28 Commercial mortgages -6.1 -1.1 -1.6 -3.0 -2.4 -1.4 -0.6 -1.0 0.9 -4.8 -0.7 28

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on F.127.e and F.127.m.
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F.128 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving -97.9 38.0 26.8 10.0 7.8 16.5 21.8 6.0 20.0 18.0 14.9 1

 2 Fixed nonresidential investment 21.6 25.6 19.4 17.2 18.4 19.2 18.9 19.0 19.3 19.5 19.5 2

 3 Net acquisition of financial assets -1180.4 -236.3 234.4 29.1 173.7 -298.1 -216.6 -168.4 -350.4 -457.0 -362.0 3

 4 Checkable deposits and currency 15.1 -29.4 6.2 14.9 16.3 -16.5 -66.2 40.5 -19.8 -20.3 -25.5 4

 5 Security repurchase agreements -305.5 -103.3 243.4 154.6 55.1 -317.2 -478.6 -158.4 -260.2 -371.7 -214.0 5

 6 Credit market instruments -85.7 -192.1 32.2 5.7 89.1 -175.4 -167.4 -330.1 -5.4 -198.8 7.9 6

 7 Open market paper -21.4 -24.2 -5.3 5.9 -12.2 -1.3 0.1 -2.2 6.2 -9.2 -1.8 7

 8 Treasury securities 275.6 -67.6 -28.5 89.1 63.0 -110.5 -144.7 -134.9 68.6 -231.0 92.7 8

 9 Agency- and GSE-backed securities -72.5 -131.8 38.9 -2.1 21.9 -55.4 -62.8 -112.3 -80.7 34.0 -105.2 9

 10 Municipal securities -11.4 -3.3 4.6 -9.1 -4.3 -8.0 17.7 -48.1 -3.0 1.5 10.0 10

 11 Corporate and foreign bonds -259.0 47.5 35.2 -85.0 35.5 -11.1 31.9 -52.8 -2.8 -20.6 -1.9 11

 12 Other loans and advances 3.1 -12.7 -12.7 6.9 -14.8 10.9 -9.5 20.2 6.3 26.5 14.0 12

 13 Corporate equities -28.5 -4.6 -18.5 -5.0 9.7 18.6 -78.0 16.5 -5.5 141.5 40.0 13

 14 Security credit -160.7 38.1 75.2 -39.3 64.9 35.4 16.4 -21.2 44.6 101.9 50.0 14

 15 Miscellaneous assets -615.1 54.9 -104.2 -101.7 -61.4 156.9 557.2 284.2 -104.1 -109.6 -220.4 15

 16 Net increase in liabilities -988.6 -305.9 220.4 63.3 118.8 -333.1 -285.4 -205.9 -357.7 -483.4 -351.3 16

 17 Security repurchase agreements -865.4 -296.8 195.9 70.5 131.2 -439.3 -492.9 -334.6 -364.5 -565.3 -303.2 17

 18 Credit market instruments 77.7 -49.7 36.9 -37.9 -1.7 22.2 -4.2 55.8 -27.8 65.1 13.3 18

 19 Corporate bonds 32.3 -4.2 36.9 -37.9 -1.7 22.2 -4.2 55.8 -27.8 65.1 13.3 19

 20 Depository institution loans n.e.c. (1) 45.5 -45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Corporate equity issues 120.2 -32.4 -11.1 14.1 -50.7 -31.0 -45.4 -41.6 0.3 -37.1 0.4 21

 22 Trade payables -24.7 48.9 -52.0 -3.8 -0.0 0.3 4.6 1.0 -9.3 4.9 -6.0 22

 23 Security credit -192.2 -43.5 29.8 31.9 32.8 68.9 -26.2 193.5 0.2 108.1 32.0 23

 24 From households -179.6 -35.7 23.5 0.9 42.0 58.5 -53.9 202.0 -10.1 95.9 13.0 24

 25 From U.S.-chartered depository institutions -2.2 -3.4 3.2 12.2 -1.9 7.9 11.7 15.6 8.3 -3.9 21.9 25

 26 From foreign banking offices in U.S. -10.4 -4.5 3.1 18.8 -7.3 2.5 16.0 -24.0 2.0 16.0 -2.9 26

 27 Taxes payable 0.3 3.2 -2.1 -1.1 0.5 0.6 5.4 0.1 0.6 -3.5 -4.5 27

 28 Miscellaneous liabilities -116.2 63.9 22.2 -8.6 0.3 47.4 278.7 -81.5 58.8 -66.5 -80.7 28

 29 Foreign direct investment in U.S. 55.8 2.1 13.2 10.8 8.0 6.1 6.5 4.1 3.1 10.6 8.0 29

 30 Investment by parent companies 104.6 -166.8 -51.2 40.4 71.3 77.8 36.0 50.5 -118.7 343.4 54.4 30

 31 Other -276.6 228.6 60.2 -59.8 -79.0 -36.5 236.2 -136.1 174.4 -420.6 -143.1 31

 32 Proprietors’ net investment 11.6 0.6 0.9 -1.7 6.5 -2.3 -5.3 1.3 -16.1 10.9 -2.6 32

 33 Discrepancy 72.3 -57.2 -6.6 26.9 -65.5 -37.7 -65.8 -50.5 -6.6 -27.9 6.1 33

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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F.129 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 81.2 97.8 108.1 144.6 176.9 160.9 131.6 186.8 169.9 155.3 158.8 1

 2 Fixed nonresidential investment 53.8 54.4 48.3 51.4 54.5 56.8 56.4 56.2 57.1 57.6 57.7 2

 3 Net acquisition of financial assets 289.1 87.3 -4.6 44.6 -40.2 309.1 381.9 -127.0 656.2 325.3 172.3 3

 4 Time and savings deposits -0.1 -3.9 -1.3 2.4 3.1 2.8 -13.6 7.9 -2.6 19.5 7.4 4

 5 Federal funds and security repos -6.6 19.8 2.1 0.2 -48.3 -2.8 -0.9 -14.1 11.6 -8.0 -0.4 5

 6 Credit market instruments 13.9 -16.0 22.1 3.1 -39.8 55.9 26.0 53.0 177.6 -32.9 -27.2 6

 7 Treasury securities -4.0 2.7 13.8 7.1 -29.8 9.8 6.4 41.1 -8.4 0.3 -0.4 7

 8 Agency- and GSE-backed securities 15.9 -7.0 -3.2 12.0 -22.1 14.9 15.5 -5.1 32.3 16.9 -8.3 8

 9 Corporate and foreign bonds -0.0 -8.4 7.3 -20.1 -4.7 34.0 1.6 -2.0 148.9 -12.6 -7.7 9

 10 Other loans and advances 2.0 -3.2 4.3 4.0 16.7 -2.8 2.6 19.0 4.7 -37.5 -10.7 10

 11 Life insurance reserves -1.2 2.1 3.8 2.4 7.3 5.1 5.0 1.1 4.5 9.6 10.1 11

 12 Miscellaneous assets 283.1 85.4 -31.2 36.5 37.4 248.1 365.3 -175.0 465.0 337.1 182.4 12

 13 Net trans. with depository institution subs. 113.6 166.8 33.4 76.1 101.2 66.2 110.7 -100.8 70.2 184.6 134.4 13

 14 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 4.3 -7.7 -22.9 -0.0 -7.1 -0.7 -0.5 14

 15 Net trans. with life insurance company subs. -12.5 9.3 22.2 9.3 10.3 3.4 0.9 -0.6 21.2 -8.1 0.9 15

 16 Net trans. with finance company subs. -7.3 -23.3 -39.5 -20.3 -3.5 -15.8 -65.6 4.1 0.7 -2.3 9.9 16

 17 Net trans. with broker and dealer subs. 98.2 -173.1 -24.3 -13.0 52.3 62.3 -24.6 72.3 -157.1 358.7 16.8 17

 18 Net trans. with foreign subs. -9.1 23.5 10.6 30.6 -51.5 -29.0 89.8 -146.0 106.5 -166.4 40.4 18

 19 Other 100.1 82.3 -33.6 -46.2 -75.6 168.7 277.1 -4.0 430.6 -28.7 -19.4 19

 20 Net increase in liabilities 247.9 34.8 -64.6 -50.0 -164.3 203.2 304.4 -259.1 541.6 225.7 69.8 20

 21 Federal funds and security repos -7.0 -0.2 0.2 0.4 -1.2 -0.0 -0.1 -0.0 0.0 0.0 -0.0 21

 22 Credit market instruments 97.3 -8.0 -16.5 -16.5 -97.7 -1.6 -24.5 -149.7 -36.1 203.8 11.2 22

 23 Commercial paper -39.0 -18.1 3.9 11.1 6.2 -19.9 5.2 -28.7 -4.8 -51.3 -27.5 23

 24 Corporate bonds 123.0 7.8 -46.5 -91.6 16.3 4.5 -46.0 -138.5 58.5 143.9 46.5 24

 25 Depository institution loans n.e.c. 13.3 2.3 26.1 64.0 -120.2 13.8 16.3 17.5 -89.9 111.2 -7.8 25

 26 Corporate equity issues 321.4 68.6 19.8 2.9 0.6 -17.1 -7.0 -21.4 -27.5 -12.5 -2.3 26

 27 Miscellaneous liabilities -163.8 -25.6 -68.2 -36.8 -66.0 221.9 336.0 -88.0 605.2 34.4 60.9 27

 28 Equity, etc. 63.0 35.6 -22.4 6.9 -13.9 -3.7 67.8 -119.8 -7.5 44.7 69.8 28

 29 Other -226.8 -61.2 -45.8 -43.8 -52.1 225.6 268.2 31.8 612.7 -10.3 -8.9 29

 30 Discrepancy -13.7 -9.1 -0.3 -1.5 -1.7 -1.9 -2.3 -1.4 -1.9 -1.9 -1.4 30

(1) Parent only bank holding companies and savings and loan holding companies that file the Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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F.130 Funding Corporations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 914.2 -446.1 -114.8 -71.5 39.0 -54.3 154.9 -291.5 -8.0 -72.7 170.4 1

 2 Money market fund shares 253.6 -153.7 -148.0 -89.2 -28.8 -104.5 -163.1 -197.0 69.2 -127.2 -95.7 2

 3 Security repurchase agreements 0.0 0.1 0.0 0.0 0.0 -0.1 -0.5 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 618.6 -250.4 90.3 24.4 60.6 37.3 190.1 -69.3 -21.9 50.5 227.0 4

 5 Open market paper 106.2 -284.3 39.9 -6.2 -12.4 -8.5 116.6 -136.0 -17.2 2.7 178.0 5

 6 Corporate and foreign bonds 497.3 43.6 51.9 32.6 79.6 48.1 73.4 71.1 1.0 46.9 47.0 6

 7 Other loans and advances 15.1 -9.8 -1.5 -2.0 -6.5 -2.3 0.1 -4.4 -5.8 0.8 2.0 7

 8 Corporate equities (2) 0.0 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 42.1 -67.2 -58.4 19.6 7.2 13.0 128.3 -25.2 -55.2 4.0 39.0 9

 10 Investment in foreign banking offices 35.6 -73.5 -31.5 -33.7 -11.8 -2.5 67.7 -3.4 -93.6 19.2 1.5 10

 11 Investment in brokers and dealers 6.4 6.3 -26.9 53.4 19.0 15.5 60.6 -21.8 38.4 -15.3 37.6 11

 12 Net increase in liabilities 914.2 -446.1 -114.8 -71.5 39.0 -54.3 154.9 -291.5 -8.0 -72.7 170.4 12

 13 Credit market instruments 466.4 -434.8 -65.3 -52.4 -23.9 27.0 91.9 39.1 -53.7 30.7 49.3 13

 14 Open market paper 20.1 -125.1 -47.4 -72.7 -30.9 16.2 56.1 61.7 -115.1 62.1 28.9 14

 15 Corporate bonds 1.4 37.9 -3.2 71.6 35.3 11.4 37.9 -22.2 61.5 -31.4 20.4 15

 16 Depository institution loans n.e.c. (3) 444.9 -349.6 -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 0.0 2.0 7.2 0.7 -6.8 -0.7 -2.2 -0.4 0.0 0.0 0.0 17

 18 Corporate equities (5) 40.0 30.5 3.5 -18.4 -8.6 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Miscellaneous liabilities 407.8 -41.8 -53.0 -0.7 71.5 -81.3 63.0 -330.6 45.7 -103.4 121.1 19

 20 Foreign direct investment in U.S. 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 20

 21 Securities loaned (net) -353.2 -30.2 -123.5 -74.6 -79.2 94.0 236.2 298.3 -43.6 -114.8 -139.1 21

 22 Equity interest under PPIP 0.0 2.4 7.9 1.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other (net) 760.4 -14.6 62.0 71.9 150.1 -175.9 -173.8 -629.5 88.7 10.8 259.5 23

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
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F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 4.8 99.9 1.8 15.9 4.5 -3.1 3.5 -0.8 -4.0 -11.1 -14.3 1

 2 Federal government: SDR allocations 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Rest of the world 4.8 52.3 1.8 15.9 4.5 -3.1 3.5 -0.8 -4.0 -11.1 -14.3 3

 4 SDR holdings 0.1 48.2 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserve position in IMF (net) 3.5 3.4 1.3 18.1 4.0 -3.4 3.0 -1.1 -4.3 -11.3 -14.4 5

 6 Foreign currency holdings 1.3 0.7 0.5 -0.5 0.4 0.3 0.5 0.4 0.3 0.2 0.1 6

 7 Net change in assets 4.8 99.9 1.8 15.9 4.5 -3.1 3.5 -0.8 -4.0 -11.1 -14.3 7

 8 Federal government 4.2 51.9 1.6 16.2 4.3 -3.3 3.3 -1.0 -4.2 -11.2 -14.4 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings 0.1 48.2 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Reserve position in IMF (net) 3.5 3.4 1.3 18.2 4.0 -3.4 3.1 -1.2 -4.3 -11.3 -14.4 11

 12 Foreign currency holdings 0.6 0.3 0.3 -0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.0 12

 13 Rest of the world 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 SDR allocations 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Monetary authority 0.6 0.3 0.3 -0.3 0.2 0.2 0.2 0.2 0.2 0.1 0.1 16

 17 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Reserve position in IMF (net) -0.0 0.0 0.0 -0.1 0.0 0.0 -0.1 0.0 0.0 -0.0 0.1 18

 19 Foreign currency holdings 0.6 0.3 0.3 -0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.0 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 Liab: Federal government 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government -0.8 -0.4 -0.3 0.0 0.0 -0.4 0.0 0.0 -1.4 0.0 0.0 3

 4 Asset: Monetary authority -0.0 4.0 0.9 0.7 0.6 0.7 0.9 0.7 0.7 0.6 1.0 4

 5 Discrepancy (seigniorage) -0.8 -4.4 -1.1 -0.7 -0.6 -1.1 -0.9 -0.7 -2.1 -0.6 -1.0 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total rest of the world liability -394.3 -110.7 -9.3 -46.3 -30.2 55.9 96.8 315.3 -20.1 -168.6 -159.7 1

 Held by:

 2 Household sector -23.7 -6.6 -0.6 -2.8 -1.8 3.4 5.8 18.9 -1.2 -10.1 -19.2 2

 3 Nonfinancial corporate business -25.5 6.8 9.1 -5.8 1.0 44.7 46.8 56.6 12.9 62.5 -64.1 3

 4 Money market mutual funds -14.6 11.6 8.7 -62.9 0.4 -9.6 21.8 -46.7 -3.2 -10.2 -57.3 4

 5 Discrepancy--unallocated assets -330.4 -122.5 -26.6 25.2 -29.7 17.4 22.4 286.4 -28.6 -210.8 -19.1 5
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F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 1751.8 -536.9 -142.8 820.5 -194.5 1107.0 1847.5 2005.3 535.7 39.6 1031.8 1

 2 Monetary authority 842.0 114.2 -11.1 602.3 -64.1 760.6 1171.4 887.0 898.6 85.3 764.1 2

 3 U.S.-chartered depository institutions 684.2 -496.4 -201.3 -263.4 -114.2 190.6 375.5 243.4 13.1 130.4 95.9 3

 4 Foreign banking offices in U.S. 233.0 -152.2 30.7 504.6 -1.9 153.4 256.4 875.6 -347.7 -170.6 149.1 4

 5 Banks in U.S.-affiliated areas -0.6 -1.0 0.9 -1.2 -0.4 0.2 1.3 -2.7 1.1 1.2 -3.2 5

 6 Credit unions -6.8 -1.6 38.1 -21.9 -13.8 2.2 42.9 2.0 -29.3 -6.7 26.0 6

 7 Net change in assets 1706.9 -551.4 -168.7 817.0 -200.1 1050.2 1552.7 2020.6 737.7 -110.3 958.7 7

 8 Rest of the world 355.4 -201.9 -61.8 213.9 -136.0 290.1 382.0 1133.6 -161.6 -193.6 193.2 8

 9 Monetary authority 509.6 -463.7 -95.7 0.8 0.0 -0.5 -0.7 -0.0 0.8 -2.0 1.5 9

 10 U.S.-chartered depository institutions 600.5 41.6 -87.8 231.0 6.9 456.9 704.5 75.7 907.1 140.4 216.6 10

 11 Foreign banking offices in U.S. 238.0 45.1 66.7 360.2 -72.2 309.3 410.1 873.3 15.7 -61.9 491.9 11

 12 Credit unions 3.5 27.5 10.0 11.1 1.2 -5.7 56.8 -62.0 -24.2 6.8 55.5 12

 13 Discrepancy 44.8 14.5 25.8 3.5 5.7 56.8 294.7 -15.3 -202.1 149.9 73.1 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 2.7 -2.8 -2.2 8.1 7.1 2.6 -25.8 -4.6 22.0 18.6 -16.9 14

 15 Asset: U.S.-chartered depository institutions 2.7 -2.8 -2.2 8.1 7.1 2.5 -25.8 -4.7 22.0 18.6 -16.9 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 -0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority 839.2 117.0 -8.9 594.2 -71.2 758.0 1197.2 891.6 876.6 66.7 781.0 17

 18 Asset: U.S.-chartered depository institutions 597.7 44.4 -85.6 222.9 -0.2 454.4 730.3 80.4 885.1 121.7 233.5 18

 19 Foreign banking offices in U.S. 238.0 45.1 66.7 360.2 -72.2 309.3 410.1 873.2 15.7 -61.9 491.9 19

 20 Credit unions 3.5 27.5 10.0 11.1 1.2 -5.7 56.8 -62.0 -24.2 6.8 55.5 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions 509.6 -463.7 -95.7 0.8 0.0 -0.5 -0.7 -0.0 0.8 -2.0 1.5 21

 22 Asset: Monetary authority 509.6 -463.7 -95.7 0.8 0.0 -0.5 -0.7 -0.0 0.8 -2.0 1.5 22

 23 Federal Reserve float -1.5 -0.6 0.7 0.8 0.1 -0.5 -0.4 -0.5 0.6 -1.6 1.7 23

 24 Loans 511.1 -463.1 -96.4 -0.0 -0.1 0.0 -0.2 0.4 0.2 -0.4 -0.2 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) 104.8 -53.5 -78.4 -309.3 -87.8 153.1 220.5 201.0 134.4 56.3 56.0 25

 26 Due to foreign affiliates 168.6 -50.2 21.5 -222.2 -199.0 103.2 48.1 22.1 47.6 295.1 -27.0 26

 27 - Due from foreign affiliates 63.8 3.4 99.9 87.1 -111.1 -49.8 -172.3 -178.9 -86.8 238.8 -83.0 27

 28 Foreign banking offices in U.S. (net) 236.6 -149.6 37.0 512.1 -51.6 136.3 157.0 937.8 -317.6 -232.2 129.2 28

 29 Due to foreign affiliates 48.3 -25.6 53.8 296.7 -90.0 120.6 52.3 788.2 -417.7 59.6 62.3 29

 30 - Due from foreign affiliates -188.3 124.0 16.8 -215.4 -38.3 -15.6 -104.8 -149.5 -100.1 291.8 -66.8 30

 31 Less: Deposits at foreign banks -4.3 -9.6 13.6 -12.4 -2.6 -0.3 -1.8 1.3 -7.6 6.8 2.1 31

 32 U.S.-chartered depository institutions 5.2 -15.3 6.9 -4.0 -3.3 0.4 1.8 2.6 -3.3 0.7 4.1 32

 33 Foreign banking offices in U.S. -9.5 5.7 6.6 -8.4 0.7 -0.8 -3.6 -1.3 -4.3 6.1 -2.0 33

 34 Plus: Loans from foreign banks 9.7 -8.4 -6.8 -1.3 0.8 0.5 2.7 -3.9 13.9 -10.9 10.1 34

 35 U.S.-chartered depository institutions 4.0 -2.0 -3.4 0.4 -0.2 -0.1 1.0 2.5 1.0 -4.7 1.6 35

 36 Foreign banking offices in U.S. 5.7 -6.4 -3.4 -1.7 1.1 0.5 1.7 -6.4 12.9 -6.2 8.5 36

 37 Asset: Rest of the world (1) 355.4 -201.9 -61.8 213.9 -136.0 290.1 382.0 1133.6 -161.6 -193.6 193.2 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) 71.0 7.5 -16.8 40.8 -29.5 38.5 156.5 42.5 -126.5 81.6 40.9 38

 39 Due to (3): 53.1 -1.8 -14.0 21.7 23.0 52.1 231.4 5.1 -99.7 71.6 70.1 39

 40 Foreign banking offices in U.S. 0.9 -18.8 -0.8 -4.9 3.1 -2.3 -19.2 19.7 74.2 -83.8 19.7 40

 41 Banks in U.S.-affiliated areas 0.6 1.0 -0.9 1.2 0.4 -0.2 -1.3 2.7 -1.1 -1.2 3.2 41

 42 Credit unions 6.8 1.6 -38.1 21.9 13.8 -2.2 -42.9 -2.0 29.3 6.7 -26.0 42

 43 - Due from: Foreign banking offices in U.S. -17.9 -9.3 2.9 -19.1 52.5 13.6 74.9 -37.4 26.8 -9.9 29.2 43

 44 Unallocated (2) 44.8 14.5 25.8 3.5 5.7 56.8 294.7 -15.3 -202.1 149.9 73.1 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 568.4 -7.9 266.3 234.5 267.7 332.6 294.2 68.8 162.3 805.2 224.6 1

 2 Monetary authority 428.2 -117.6 185.0 -122.1 62.1 139.5 -16.8 313.7 -109.1 370.2 -25.8 2

 3 Federal government cash and deposits 349.3 -173.8 149.0 -255.0 7.0 69.8 -52.3 226.5 -185.9 290.8 -78.7 3

 4 Due to government-sponsored enterprises 19.4 14.0 -21.6 51.1 -37.4 -1.3 -28.1 -2.7 18.3 7.3 -60.3 4

 5 Deposits due to foreign 1.3 1.0 0.9 -3.2 6.3 1.5 11.0 3.3 -4.3 -3.9 -4.0 5

 6 Currency outside banks 58.2 41.2 56.7 85.0 86.2 69.5 52.6 86.6 62.9 76.0 117.1 6

 7 U.S.-chartered depository institutions 137.9 94.0 69.6 319.4 176.2 148.2 260.1 -289.3 240.6 381.2 172.8 7

 8 Federal government deposits -39.5 0.3 -0.1 -2.7 0.3 0.3 -0.7 0.3 0.5 0.9 -1.0 8

 9 Deposits due to foreign 31.2 -28.7 -3.8 25.6 -4.1 -2.1 -22.7 -23.0 35.6 1.7 0.3 9

 10 Private domestic deposits 146.2 122.4 73.5 296.5 180.0 150.0 283.4 -266.6 204.5 378.6 173.5 10

 11 Foreign banking offices in U.S. 1.7 2.6 5.7 23.7 16.2 30.8 7.5 39.0 34.5 42.2 35.7 11

 12 Deposits due to foreign 2.4 5.8 4.1 4.4 8.9 12.3 2.5 14.9 7.6 24.3 16.4 12

 13 Private domestic deposits -0.7 -3.2 1.7 19.3 7.3 18.5 5.0 24.1 26.9 17.9 19.3 13

 14 Banks in U.S.-affiliated areas -1.1 1.4 0.5 2.8 2.5 6.3 0.8 16.8 5.7 2.0 -3.5 14

 15 Credit unions 1.6 11.6 5.5 10.7 10.7 7.9 42.6 -11.5 -9.4 9.7 45.4 15

 16 Net change in assets 568.4 -7.9 266.3 234.5 267.7 332.6 294.2 68.8 162.3 805.2 224.6 16

 17 Household sector 176.7 101.1 38.9 328.3 159.4 106.9 234.4 -82.6 -15.3 291.2 523.5 17

 18 Nonfinancial business -55.2 85.6 76.8 27.3 29.7 104.2 77.7 -79.8 187.6 231.3 -263.9 18

 19 Corporate -59.0 70.7 79.7 29.7 15.1 94.6 77.3 -92.8 175.8 217.9 -269.2 19

 20 Noncorporate 3.8 14.9 -2.8 -2.3 14.6 9.7 0.4 13.0 11.9 13.4 5.3 20

 21 State and local governments 8.5 19.2 5.7 16.8 -9.0 6.5 13.2 -11.8 28.8 -4.3 11.6 21

 22 Federal government 313.1 -174.2 148.9 -257.6 6.7 69.6 -8.2 130.2 -188.9 345.3 -35.9 22

 23 Rest of the world 64.0 -9.2 29.5 81.8 68.3 49.5 10.7 33.2 89.5 64.5 113.4 23

 24 Checkable deposits 34.8 -21.8 1.2 26.8 11.1 11.8 -9.2 -4.8 38.9 22.1 12.7 24

 25 Currency 29.2 12.6 28.3 55.0 57.1 37.7 19.8 37.9 50.7 42.5 100.7 25

 26 Financial sectors 66.5 -30.2 -32.3 37.1 11.1 -3.3 16.4 -19.5 55.2 -65.4 -84.1 26

 27 Property-casualty insurance companies -14.8 -0.3 5.0 -8.5 12.3 -6.7 -18.8 -4.6 -0.1 -3.4 15.6 27

 28 Life insurance companies 24.4 -32.1 1.0 2.0 2.7 -9.2 -0.2 -43.4 31.9 -25.3 12.1 28

 29 Private pension funds -5.5 -2.9 2.1 5.7 -0.3 -0.5 -0.1 1.8 -1.4 -2.4 1.1 29

 30 State and local govt. retirement funds -0.1 -0.0 0.5 0.2 -0.1 0.9 0.6 0.3 0.4 2.2 1.3 30

 31 Money market mutual funds 5.6 10.5 -3.7 5.8 -3.6 -3.2 23.5 49.6 -84.6 -1.2 55.3 31

 32 Government-sponsored enterprises 39.7 11.1 -36.0 9.3 -20.1 29.0 46.1 -49.5 102.5 17.0 -144.7 32

 33 Finance companies 0.3 0.5 -1.7 5.1 -3.8 4.2 9.3 -0.7 16.7 -8.5 4.9 33

 34 REITs 1.8 12.4 -5.7 2.5 7.7 -1.3 22.3 -13.5 9.7 -23.5 -4.3 34

 35 Brokers and dealers 15.1 -29.4 6.2 14.9 16.3 -16.5 -66.2 40.5 -19.8 -20.3 -25.5 35

 36 Mail float -5.2 -0.3 -1.1 0.8 1.5 -0.7 -50.0 99.1 5.4 -57.4 -39.9 36
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F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 342.4 343.7 115.6 404.1 520.4 409.1 124.3 417.8 834.1 260.3 724.1 1

 2 Small time and savings deposits 524.8 517.2 298.3 577.4 539.6 307.0 130.8 371.4 606.7 119.1 514.2 2

 3 U.S.-chartered depository institutions 480.6 472.3 271.7 537.1 491.5 256.7 107.7 308.8 524.1 86.3 532.9 3

 4 Foreign banking offices in U.S. 0.1 4.4 5.8 13.2 13.8 27.7 20.7 10.8 61.4 17.8 -22.7 4

 5 Banks in U.S.-affiliated areas 1.1 -2.9 -5.2 -0.4 -0.1 2.5 1.2 5.9 4.2 -1.2 -2.7 5

 6 Credit unions 43.0 43.4 26.1 27.4 34.4 20.1 1.3 45.9 16.9 16.2 6.8 6

 7 Large time deposits (1) -182.4 -173.6 -182.7 -173.3 -19.2 102.1 -6.4 46.4 227.4 141.2 209.9 7

 8 U.S.-chartered depository institutions -63.9 -335.7 -133.8 -13.2 -9.1 23.9 -78.4 34.0 -10.5 150.4 -29.7 8

 9 Foreign banking offices in U.S. -120.0 148.0 -46.5 -163.1 -16.2 71.1 64.1 6.5 225.5 -11.8 233.4 9

 10 Banks in U.S.-affiliated areas 1.1 -2.9 -5.2 -0.4 -0.1 2.5 1.2 5.9 4.2 -1.2 -2.7 10

 11 Credit unions 0.5 17.0 2.8 3.4 6.2 4.7 6.7 0.0 8.2 3.8 8.9 11

 12 Net change in assets 342.4 343.7 115.6 404.1 520.4 409.1 124.3 417.8 834.1 260.3 724.1 12

 13 Household sector 255.6 106.0 159.0 371.8 408.7 197.4 90.7 232.5 271.2 195.3 568.3 13

 14 Nonfinancial business -130.7 172.1 62.8 17.1 41.9 67.6 39.2 71.8 156.0 3.6 52.4 14

 15 Corporate -129.4 176.9 59.9 13.2 36.8 58.5 36.7 60.3 145.3 -8.2 46.5 15

 16 Noncorporate -1.2 -4.8 2.9 3.9 5.1 9.1 2.5 11.5 10.7 11.8 5.9 16

 17 State and local governments 18.5 9.7 -6.3 15.2 19.2 12.7 16.3 -7.3 30.3 11.4 20.5 17

 18 Federal government -1.3 0.3 0.1 -0.3 0.2 -0.5 -1.7 0.9 0.2 -1.3 -0.1 18

 19 Rest of the world 78.5 -73.2 9.0 47.2 37.1 48.7 -4.1 26.0 81.9 90.8 46.7 19

 20 Financial sectors 121.7 128.7 -108.9 -47.0 13.3 83.1 -16.1 93.8 294.4 -39.6 36.3 20

 21 Private pension funds -4.1 2.8 -0.9 1.4 -1.8 -0.5 -0.0 -1.5 -0.9 0.3 1.7 21

 22 State and local govt. retirement funds 0.6 1.2 5.9 2.8 -0.3 7.7 5.0 2.6 3.8 19.3 11.5 22

 23 Money market mutual funds 102.7 169.9 -107.7 -56.3 32.8 59.4 -32.8 82.0 233.2 -44.8 -9.5 23

 24 Government-sponsored enterprises 21.9 -42.8 0.3 -12.7 -9.1 1.1 -2.7 4.8 10.8 -8.5 10.3 24

 25 Finance companies 0.8 1.6 -5.2 15.4 -11.5 12.7 28.0 -2.0 50.1 -25.4 14.8 25

 26 Holding companies -0.1 -3.9 -1.3 2.4 3.1 2.8 -13.6 7.9 -2.6 19.5 7.4 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues 724.2 -498.7 -503.2 -112.8 7.1 28.7 -142.8 85.0 270.2 -97.8 -91.1 1

 2 Net purchases 724.2 -498.7 -503.2 -112.8 7.1 28.7 -142.8 85.0 270.2 -97.8 -91.1 2

 3 Household sector 234.7 -267.9 -182.8 -35.1 -2.9 23.1 40.6 96.0 54.8 -99.1 98.7 3

 4 Nonfinancial corporate business 178.5 -71.4 -157.7 -35.4 18.2 40.6 -18.1 -11.9 123.8 68.5 -96.3 4

 5 Nonfinancial noncorporate business 1.0 -1.7 3.1 0.8 1.1 2.0 0.5 2.5 2.3 2.5 1.3 5

 6 State and local governments 2.6 9.8 13.7 3.4 5.4 4.9 14.5 10.1 -3.6 -1.6 7.7 6

 7 Rest of the world 23.7 7.2 -7.1 24.9 20.2 64.3 9.3 203.5 15.4 29.0 -1.0 7

 8 Property-casualty insurance companies 12.1 -3.2 -4.0 -5.6 2.2 -2.3 -4.1 -12.8 0.3 7.5 -6.3 8

 9 Life insurance companies 17.5 -5.5 -12.7 7.9 -1.4 -5.9 -27.4 -6.2 10.0 0.1 -5.0 9

 10 Private pension funds 5.1 -8.8 -10.1 16.8 -3.9 -1.5 -0.3 -2.0 -5.9 2.1 -6.6 10

 11 State and local govt. retirement funds -4.8 -3.4 2.3 -1.4 -3.1 8.1 5.3 2.8 4.0 20.3 12.2 11

 12 Funding corporations 253.6 -153.7 -148.0 -89.2 -28.8 -104.5 -163.1 -197.0 69.2 -127.2 -95.7 12
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F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -1377.1 -377.0 413.7 251.4 250.6 -502.4 -674.3 -677.4 -254.2 -403.8 132.6 1

 2 Rest of the world -366.3 55.7 200.3 71.6 39.7 -108.8 -70.5 -159.8 49.0 -254.0 217.4 2

 3 Monetary authority 44.4 -10.6 -18.0 40.2 7.3 208.7 -6.9 -41.2 249.0 634.1 100.4 3

 4 U.S.-chartered depository institutions -9.7 -195.0 -48.1 -81.5 -52.6 -84.7 -90.5 -8.6 -95.1 -144.7 8.2 4

 5 Foreign banking offices in U.S. -156.7 63.5 54.8 54.4 20.6 -12.3 -21.7 -85.4 -8.2 66.1 159.2 5

 6 Credit unions 2.4 -2.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Property-casualty insurance companies 1.9 -1.7 0.8 -1.1 0.4 1.4 1.1 1.3 1.5 1.8 2.0 7

 8 Life insurance companies -7.3 -0.5 -2.2 0.1 3.1 -0.8 0.5 0.6 -1.8 -2.5 -4.2 8

 9 Government-sponsored enterprises -1.0 -0.1 0.1 -0.9 -0.4 0.0 0.9 -0.8 -0.1 0.0 0.1 9

 10 REITs -12.3 11.1 29.9 97.7 102.4 -66.6 5.8 -48.9 -84.1 -139.3 -47.2 10

 11 Brokers and dealers -865.4 -296.8 195.9 70.5 131.2 -439.3 -492.9 -334.6 -364.5 -565.3 -303.2 11

 12 Holding companies -7.0 -0.2 0.2 0.4 -1.2 -0.0 -0.1 -0.0 0.0 0.0 -0.0 12

 13 Net change in assets -1091.4 -541.8 347.9 237.9 269.2 -315.8 -330.1 -580.2 -103.3 -249.7 177.2 13

 14 Nonfinancial corporate business -0.9 0.7 4.3 0.4 -2.8 -0.9 -1.8 -2.6 15.6 -14.9 7.1 14

 15 State and local governments -12.1 -4.3 -1.4 -3.6 4.7 4.3 12.0 8.5 -2.4 -0.8 6.6 15

 16 Rest of the world -580.4 -42.7 74.2 123.3 2.6 56.4 221.8 -117.4 10.4 110.6 191.9 16

 17 Monetary authority 33.5 -80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 U.S.-chartered depository institutions 54.9 -308.2 0.7 -25.0 61.1 -87.9 -176.1 -86.4 -80.0 -9.3 -0.3 18

 19 Foreign banking offices in U.S. -177.5 0.1 20.3 31.7 58.2 -1.2 1.9 9.3 72.7 -88.7 92.7 19

 20 Credit unions -2.4 0.0 -0.1 15.9 -6.2 -9.6 -44.9 3.6 3.5 -0.7 -6.8 20

 21 Property-casualty insurance companies 0.8 0.1 -0.7 -2.1 0.0 0.0 -0.1 -0.9 0.2 0.8 -0.8 21

 22 Life insurance companies 5.2 2.2 0.7 -0.8 -1.6 -0.0 -6.9 -0.5 5.4 2.0 -7.7 22

 23 Private pension funds -1.0 0.2 -0.2 0.0 -0.1 -0.1 -0.0 -0.1 -0.2 0.0 0.2 23

 24 State and local govt. retirement funds -0.2 -0.1 0.3 0.1 -0.1 0.7 0.4 0.2 0.3 1.7 1.0 24

 25 Money market mutual funds -63.5 -62.4 -0.6 11.1 54.2 -51.7 -208.3 -133.4 88.0 46.8 148.2 25

 26 Mutual funds -7.4 28.6 -15.8 -28.8 54.1 93.0 180.8 81.1 103.0 6.9 59.7 26

 27 Government-sponsored enterprises -28.3 7.5 20.7 -38.9 38.6 1.5 171.1 -169.3 -71.4 75.5 -100.1 27

 28 Brokers and dealers -305.5 -103.3 243.4 154.6 55.1 -317.2 -478.6 -158.4 -260.2 -371.7 -214.0 28

 29 Holding companies -6.6 19.8 2.1 0.2 -48.3 -2.8 -0.9 -14.1 11.6 -8.0 -0.4 29

 30 Funding corporations 0.0 0.1 0.0 0.0 0.0 -0.1 -0.5 0.0 0.0 0.0 0.0 30

 31 Discrepancy -285.8 164.7 65.8 13.5 -18.6 -186.6 -344.2 -97.2 -150.9 -154.1 -44.6 31
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F.208 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total net issues, all types -188.8 -461.8 -80.4 -88.3 -16.9 -0.8 128.4 -22.2 -61.8 -47.6 85.7 1

 2 Commercial paper -188.8 -461.9 -79.9 -88.2 -16.8 -0.8 128.3 -22.2 -61.8 -47.6 85.7 2

 3 Nonfinancial corporate business 7.7 -73.1 24.5 33.4 14.0 14.2 20.1 -20.1 92.0 -35.2 72.1 3

 4 Foreign issues in U.S. -71.0 59.4 -2.7 -53.5 27.9 34.0 120.7 13.7 -26.6 28.1 65.2 4

 5 Nonfinancial 20.7 -15.2 -3.8 -0.5 10.3 11.2 -41.0 40.8 44.7 0.1 29.5 5

 6 Financial -91.7 74.5 1.1 -53.0 17.6 22.8 161.7 -27.2 -71.3 27.9 35.7 6

 7 Financial sectors -125.4 -448.2 -101.7 -68.1 -58.7 -48.9 -12.4 -15.7 -127.2 -40.4 -51.5 7

 8 U.S.-chartered depository institutions 0.0 0.0 -19.7 7.7 -33.1 -27.8 -52.3 -41.1 -27.2 9.3 -5.2 8

 9 ABS issuers -83.9 -266.2 -40.3 -24.1 -9.0 -7.1 11.1 -13.4 -11.6 -14.4 -22.3 9

 10 Finance companies -22.6 -38.8 1.7 10.0 8.2 -10.3 -32.6 5.8 31.6 -46.1 -25.4 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies -39.0 -18.1 3.9 11.1 6.2 -19.9 5.2 -28.7 -4.8 -51.3 -27.5 12

 13 Funding corporations 20.1 -125.1 -47.4 -72.7 -30.9 16.2 56.1 61.7 -115.1 62.1 28.9 13

 14 Bankers’ acceptances (1) 0.0 0.1 -0.5 -0.1 -0.1 -0.0 0.0 -0.0 -0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions 0.2 0.1 -0.5 -0.1 -0.1 -0.0 0.0 -0.0 -0.0 0.0 0.0 15

 16 Foreign banking offices in U.S. -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Net purchases, by sector -188.8 -461.8 -80.4 -88.3 -16.9 -0.8 128.4 -22.2 -61.8 -47.6 85.7 17

 18 Household sector -101.3 16.7 -1.5 -1.8 -0.6 -3.8 -3.2 -0.8 -0.8 -10.4 -2.9 18

 19 Nonfinancial corporate business -12.2 -1.3 12.0 -0.1 -8.0 -29.5 -0.7 -25.6 -29.6 -62.3 22.6 19

 20 State and local governments -22.0 -39.1 13.0 -11.2 -7.2 -7.8 -2.6 -5.3 -12.2 -11.1 -6.6 20

 21 Rest of the world -45.1 -41.4 -0.5 0.7 3.4 2.0 35.0 -15.0 -51.4 39.4 9.1 21

 22 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 U.S.-chartered depository institutions (1) 15.7 -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Credit unions -0.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Property-casualty insurance companies 5.8 -9.3 -1.9 0.9 -1.4 0.7 0.0 -3.2 1.4 4.4 -1.4 26

 27 Life insurance companies -3.4 11.5 -8.9 -11.2 13.9 3.2 -19.0 -4.6 9.0 27.2 -10.2 27

 28 Private pension funds -5.9 1.0 -2.7 2.1 -2.8 -4.0 1.9 -2.6 -6.7 -8.5 5.4 28

 29 State and local govt. retirement funds -0.2 0.5 5.7 2.4 -0.7 8.2 5.4 2.8 4.1 20.6 12.3 29

 30 Money market mutual funds -56.1 -108.0 -116.3 -40.0 -13.3 11.3 49.2 137.3 -30.8 -110.5 19.1 30

 31 Mutual funds -62.5 28.6 -13.9 -26.3 27.5 27.7 -57.5 32.6 63.1 72.6 -139.2 31

 32 Government-sponsored enterprises 14.1 3.0 0.2 -3.4 -3.1 1.0 3.1 0.5 3.0 -2.5 1.3 32

 33 Brokers and dealers -21.4 -24.2 -5.3 5.9 -12.2 -1.3 0.1 -2.2 6.2 -9.2 -1.8 33

 34 Funding corporations 106.2 -284.3 39.9 -6.2 -12.4 -8.5 116.6 -136.0 -17.2 2.7 178.0 34

(1) Excludes banks’ holdings of own acceptances.
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F.209 Treasury Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 1239.0 1443.7 1579.6 1066.8 1140.6 759.5 1169.7 298.5 173.6 1396.0 875.5 1

 2 U.S. savings securities (1) -2.4 -2.8 -3.3 -2.7 -2.8 -3.3 -2.5 -3.7 -3.3 -3.6 -2.9 2

 3 Treasury bills 861.6 -73.3 -19.0 -249.5 107.0 -35.9 646.7 -880.3 -160.7 250.6 238.7 3

 4 Other Treasury securities 379.7 1519.8 1601.8 1319.0 1036.3 798.7 525.5 1182.6 337.5 1149.1 639.8 4

 5 Net purchases 1239.0 1443.7 1579.6 1066.8 1140.6 759.5 1169.7 298.5 173.6 1396.0 875.5 5

 6 Household sector 147.9 534.3 322.5 -228.6 214.9 -213.3 -80.0 -141.7 -247.3 -384.4 -354.7 6

 7 U.S. savings securities (1) -2.4 -2.8 -3.3 -2.7 -2.8 -3.3 -2.5 -3.7 -3.3 -3.6 -2.9 7

 8 Bills and other Treasury securities 150.3 537.0 325.8 -225.9 217.6 -210.0 -77.5 -138.0 -244.0 -380.7 -351.8 8

 9 Nonfinancial corporate business -7.9 12.5 5.1 -5.1 -3.4 0.8 -25.8 20.5 1.3 7.3 -9.2 9

 10 Nonfinancial noncorporate business -7.5 -5.7 1.9 0.5 0.7 1.2 0.3 1.5 1.4 1.6 0.8 10

 11 State and local governments -46.5 -17.4 6.8 -32.7 39.2 -14.3 37.4 26.1 -93.5 -27.2 -8.4 11

 12 Rest of the world 711.6 554.4 740.4 357.9 589.5 437.7 531.6 65.5 251.1 902.8 378.6 12

 13 Treasury bills 455.3 -7.6 -40.2 -62.6 14.0 22.7 281.9 -173.6 -221.6 204.3 67.5 13

 14 Other Treasury securities 256.3 562.0 780.5 420.5 575.6 415.0 249.7 239.1 472.6 698.5 311.0 14

 15 Monetary authority -264.7 300.7 244.9 642.0 2.7 542.6 575.2 548.5 522.5 524.3 498.9 15

 16 Treasury bills -209.4 0.0 0.0 0.0 -18.4 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other Treasury securities -55.3 300.7 244.9 642.0 21.1 542.6 575.2 548.5 522.5 524.3 498.9 17

 18 U.S.-chartered depository institutions -23.7 68.1 93.0 -43.7 69.3 -26.1 -80.9 -100.3 -97.8 174.7 155.5 18

 19 Foreign banking offices in U.S. 5.1 22.0 3.5 -0.5 16.1 -9.6 11.8 -50.5 9.4 -8.9 -2.9 19

 20 Banks in U.S.-affiliated areas -0.6 -0.7 0.6 -0.0 -0.6 0.7 -0.1 0.1 0.8 2.2 0.6 20

 21 Credit unions -1.6 5.4 5.9 -2.5 1.7 -0.2 -0.4 3.5 -2.2 -1.8 3.7 21

 22 Property-casualty insurance companies -5.6 22.9 3.2 4.6 -6.7 6.0 3.2 -3.9 7.3 17.3 2.0 22

 23 Treasury bills -5.4 5.0 -0.3 1.9 -3.3 9.4 6.4 -0.5 10.7 21.0 -1.3 23

 24 Other Treasury securities -0.3 18.0 3.5 2.7 -3.4 -3.4 -3.2 -3.3 -3.4 -3.7 3.3 24

 25 Life insurance companies 35.1 27.7 23.2 18.8 5.5 -9.3 -16.7 -9.2 -6.4 -5.0 12.1 25

 26 Treasury bills 17.8 -6.3 -3.6 3.8 -4.5 -2.8 -10.3 -2.8 2.5 -0.7 1.8 26

 27 Other Treasury securities 17.3 34.0 26.8 15.0 10.0 -6.5 -6.5 -6.4 -8.8 -4.3 10.2 27

 28 Private pension funds 6.4 35.0 33.2 27.8 48.0 40.1 60.1 51.7 27.5 21.2 15.8 28

 29 State and local govt. retirement funds -15.9 21.9 7.8 9.2 18.8 16.1 17.5 30.6 12.4 4.1 9.5 29

 30 Federal government retirement funds 24.7 7.4 10.1 23.4 12.1 12.6 -9.5 -40.6 -379.4 479.9 12.1 30

 31 Money market mutual funds 399.5 -171.3 -71.0 107.9 14.5 30.4 54.1 -17.3 89.7 -5.1 -139.4 31

 32 Treasury bills 341.9 -160.2 -84.0 29.1 19.1 6.7 -43.9 -144.3 206.5 8.7 -128.1 32

 33 Other Treasury securities 57.7 -11.0 13.0 78.8 -4.7 23.6 98.0 127.1 -116.8 -13.7 -11.3 33

 34 Mutual funds 18.5 74.0 121.0 73.8 120.6 59.4 220.2 -3.7 -18.0 39.1 172.5 34

 35 Treasury bills 0.0 0.0 -1.7 0.4 12.2 -5.0 5.1 0.4 -0.5 -25.0 -45.9 35

 36 Other Treasury securities 18.5 74.0 122.7 73.4 108.4 64.4 215.1 -4.1 -17.5 64.0 218.4 36

 37 Closed-end funds -2.4 1.2 0.7 -0.3 0.3 0.6 2.1 0.5 -0.2 -0.0 0.3 37

 38 Exchange-traded funds 7.4 14.7 9.2 11.4 1.2 -6.5 -2.9 4.8 -0.7 -27.0 8.7 38

 39 Government-sponsored enterprises 1.2 19.9 45.9 17.6 -31.2 -9.9 22.3 3.6 28.5 -94.1 24.4 39

 40 ABS issuers -13.6 -18.3 -13.8 -10.9 -5.8 1.0 -11.3 2.6 6.8 5.7 2.5 40

 41 Brokers and dealers 275.6 -67.6 -28.5 89.1 63.0 -110.5 -144.7 -134.9 68.6 -231.0 92.7 41

 42 Holding companies -4.0 2.7 13.8 7.1 -29.8 9.8 6.4 41.1 -8.4 0.3 -0.4 42

 Memo:

 43 Federal government borrowing (2) 1239.2 1443.9 1580.2 1067.9 1140.2 759.1 1168.7 299.9 174.1 1393.6 873.6 43

(1) Includes U.S. savings bonds, U.S. individual retirement bonds, U.S. retirement plan bonds, U.S. savings stamps, and matured U.S. savings securities.

(2) Total issues of Treasury securities (line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 11).
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F.210 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 768.9 -59.9 -46.2 -20.8 -22.8 239.5 181.0 227.0 199.0 351.2 -255.6 1

 2 Budget agencies 0.2 0.1 0.7 1.1 -0.4 -0.4 -1.0 1.3 0.5 -2.4 -1.9 2

 3 Government-sponsored enterprises 261.3 -518.4 -233.8 -187.2 -154.6 107.5 43.1 136.7 40.2 210.1 -355.5 3

 4 Agency- and GSE-backed mortgage pools 507.4 458.3 186.9 165.3 132.2 132.4 138.8 88.9 158.3 143.5 101.8 4

 5 Net purchases 768.9 -59.9 -46.2 -20.8 -22.8 239.5 181.0 227.0 199.0 351.2 -255.6 5

 6 Household sector 238.9 -671.0 -3.5 -11.0 -128.7 -83.0 -282.6 -64.6 -83.4 98.6 -319.0 6

 7 Nonfinancial corporate business -2.6 4.2 1.7 -1.7 -1.1 -4.7 -28.6 6.8 0.4 2.4 -3.1 7

 8 State and local governments -18.4 9.7 22.5 -7.8 -10.0 -12.6 17.9 3.2 -38.9 -32.5 -4.5 8

 9 Federal government 54.4 142.0 -47.2 -118.1 -31.1 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world -228.6 -226.0 -72.3 -41.6 -71.8 -87.9 -167.4 -137.4 89.5 -136.4 -123.6 10

 11 Monetary authority 19.7 1048.5 71.4 -197.9 61.8 543.9 559.7 535.8 501.7 578.6 412.3 11

 12 U.S.-chartered depository institutions 136.2 168.0 110.1 106.9 35.5 47.7 163.7 60.6 -101.1 67.7 54.9 12

 13 Foreign banking offices in U.S. -6.5 -19.3 -4.8 4.0 1.5 -6.7 -17.5 -6.4 0.1 -3.1 -11.5 13

 14 Banks in U.S.-affiliated areas -2.0 -3.9 -7.7 -8.0 -2.2 -0.8 -0.7 -1.1 -0.9 -0.4 -0.4 14

 15 Credit unions 14.4 27.8 40.9 30.6 14.9 2.2 14.5 15.6 3.6 -25.0 6.7 15

 16 Property-casualty insurance companies -11.5 1.9 -0.4 6.9 -8.4 -5.6 -5.3 -5.5 -5.6 -6.1 -9.1 16

 17 Life insurance companies -16.7 5.8 4.0 -1.6 -13.5 -8.6 -6.9 -7.1 -12.6 -7.6 -8.3 17

 18 Private pension funds -0.2 -6.4 6.5 3.3 17.1 13.7 9.3 16.3 13.6 15.4 -7.4 18

 19 State and local govt. retirement funds -29.9 -3.2 1.1 13.2 21.4 13.6 15.9 27.6 6.8 4.2 -6.5 19

 20 Federal government retirement funds -0.2 0.0 0.6 0.7 1.5 -1.7 -2.2 -1.9 -1.8 -0.8 -2.9 20

 21 Money market mutual funds 520.3 -213.1 -140.2 0.9 -60.2 17.6 34.0 34.8 30.8 -29.4 -23.7 21

 22 Mutual funds -23.4 50.0 78.4 107.0 89.4 -28.5 11.8 -26.3 -80.6 -18.8 -44.6 22

 23 Government-sponsored enterprises 207.0 -27.4 -85.1 -18.1 -48.3 -22.7 -39.9 -32.5 8.6 -27.2 -17.7 23

 24 ABS issuers -26.0 -224.2 -96.0 -3.3 -0.0 -0.2 -0.6 -0.3 -0.1 0.2 0.0 24

 25 REITs 0.7 15.6 38.2 104.7 109.5 -95.6 -46.7 -73.4 -82.7 -179.7 -33.7 25

 26 Brokers and dealers -72.5 -131.8 38.9 -2.1 21.9 -55.4 -62.8 -112.3 -80.7 34.0 -105.2 26

 27 Holding companies 15.9 -7.0 -3.2 12.0 -22.1 14.9 15.5 -5.1 32.3 16.9 -8.3 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.209, line 41.
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F.211 Municipal Securities and Loans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 92.4 155.3 99.7 -52.8 -4.9 -43.2 76.5 24.7 -109.7 -164.4 -19.4 1

 2 State and local governments 17.1 112.2 68.7 -53.6 -5.7 -39.4 71.7 33.0 -116.9 -145.4 -20.5 2

 3 Short-term (1) 4.6 7.8 -0.7 -10.6 3.8 -10.9 -4.4 8.6 -19.4 -28.3 -7.0 3

 4 Long-term 12.5 104.4 69.3 -42.9 -9.4 -28.6 76.0 24.4 -97.5 -117.2 -13.6 4

 5 Nonprofit organizations (2) 9.3 5.9 -2.2 -7.8 -14.5 -13.1 -6.5 -14.6 -13.4 -18.1 -1.0 5

 6 Nonfinancial corporate business 66.0 37.2 33.2 8.5 15.2 9.3 11.3 6.4 20.6 -0.9 2.1 6

 (industrial revenue bonds)

 7 Net change in assets 92.4 155.3 99.7 -52.8 -4.9 -43.2 76.5 24.7 -109.7 -164.4 -19.4 7

 8 Household sector 47.3 107.1 43.7 -63.5 -142.5 -39.5 21.0 5.5 -80.6 -104.0 -110.9 8

 9 Nonfinancial corporate business -3.0 0.9 -3.2 -1.6 1.7 -12.4 -38.3 0.3 0.6 -12.2 9.5 9

 10 Nonfinancial noncorporate business -0.4 0.2 0.5 0.1 0.1 0.1 0.0 0.2 0.2 0.2 0.1 10

 11 State and local governments 0.4 1.0 1.4 0.3 0.3 0.2 1.0 0.7 -0.5 -0.3 0.5 11

 12 Rest of the world 5.9 7.7 13.1 -1.4 -2.4 1.7 -5.5 11.7 8.7 -8.0 17.8 12

 13 U.S.-chartered depository institutions 19.9 2.4 30.3 42.6 67.8 53.8 53.9 66.7 50.0 44.8 36.2 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Banks in U.S.-affiliated areas 0.5 0.9 -0.9 0.9 -0.8 0.9 0.2 0.2 3.0 0.3 -0.6 15

 16 Credit unions 0.0 0.0 0.0 3.2 1.0 0.3 4.5 -1.2 1.5 -3.5 -0.1 16

 17 Property-casualty insurance companies 10.6 -12.6 -21.0 -17.4 -2.9 -2.3 -1.1 -1.8 -2.2 -3.9 3.5 17

 18 Life insurance companies 5.7 26.1 39.2 9.4 9.7 9.7 10.1 10.2 7.7 10.7 -0.3 18

 19 State and local govt. retirement funds -0.1 0.1 0.7 -0.7 -0.9 -0.1 -0.3 -0.2 -0.3 0.3 -0.0 19

 20 Money market mutual funds 12.9 -69.4 -53.4 -29.4 -20.6 -28.3 -65.9 11.1 0.4 -58.9 -15.7 20

 21 Mutual funds 17.7 89.4 46.7 15.7 86.2 -13.5 76.8 -22.5 -80.9 -27.3 28.8 21

 22 Closed-end funds -13.3 3.3 0.4 0.9 3.3 -1.7 1.9 -0.2 -6.0 -2.4 3.4 22

 23 Exchange-traded funds 1.7 3.6 1.7 1.0 3.6 -0.8 2.9 -1.8 -4.0 -0.3 1.5 23

 24 Government-sponsored enterprises -2.0 -2.2 -4.2 -3.9 -4.1 -3.5 -2.6 -5.9 -4.1 -1.4 -3.0 24

 25 Brokers and dealers -11.4 -3.3 4.6 -9.1 -4.3 -8.0 17.7 -48.1 -3.0 1.5 10.0 25

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
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F.212 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net issues -134.7 126.6 -46.0 312.8 420.1 716.0 519.6 261.2 834.9 1248.2 726.7 1

 2 Nonfinancial corporate business 225.4 411.7 438.6 410.8 579.6 640.3 579.4 570.8 745.3 665.8 662.0 2

 3 Rest of the world (1) -158.8 163.3 59.9 137.7 62.2 162.7 239.8 3.9 77.7 329.3 90.0 3

 4 Financial sectors -201.4 -448.4 -544.6 -235.8 -221.7 -87.0 -299.5 -313.5 12.0 253.1 -25.3 4

 5 U.S.-chartered depository institutions 0.1 -28.5 -49.2 2.4 -82.3 -74.9 -114.0 -93.6 -75.3 -16.6 -27.2 5

 6 ABS issuers (net) (2) -248.2 -347.8 -371.8 -148.4 -134.7 -93.1 -164.1 -127.8 -63.9 -16.6 -88.8 6

 7 Finance companies -49.6 -87.0 -111.7 -39.4 -81.4 4.4 -19.9 -14.0 24.4 27.1 -19.8 7

 8 REITs -60.3 -26.6 1.0 7.6 26.7 38.4 10.9 26.6 34.6 81.5 30.3 8

 9 Brokers and dealers 32.3 -4.2 36.9 -37.9 -1.7 22.2 -4.2 55.8 -27.8 65.1 13.3 9

 10 Holding companies 123.0 7.8 -46.5 -91.6 16.3 4.5 -46.0 -138.5 58.5 143.9 46.5 10

 11 Funding corporations 1.4 37.9 -3.2 71.6 35.3 11.4 37.9 -22.2 61.5 -31.4 20.4 11

 12 Net purchases (3) -134.7 126.6 -46.0 312.8 420.1 716.0 519.6 261.2 834.9 1248.2 726.7 12

 13 Household sector -83.9 211.8 -289.1 203.4 38.3 106.2 -158.2 -156.3 99.1 640.1 41.7 13

 14 State and local governments -5.7 3.3 7.4 -0.8 3.3 2.7 12.9 8.2 -6.2 -4.1 5.6 14

 15 Federal government 0.0 0.6 0.3 -0.1 -0.2 -0.1 -0.2 -0.1 -0.1 -0.0 -0.0 15

 16 Rest of the world (4) -21.8 -127.3 -36.8 -109.9 -16.9 201.6 157.9 137.1 269.5 242.0 275.8 16

 17 MBS and other ABS -101.4 -168.7 -45.5 -44.8 -36.1 -22.5 -21.6 -39.4 -13.0 -16.0 -8.6 17

 18 Other 79.5 41.4 8.8 -65.1 19.2 224.1 179.5 176.5 282.5 258.0 284.4 18

 19 U.S.-chartered depository institutions -63.2 25.1 -98.2 2.5 -9.0 15.2 -13.7 10.7 50.1 13.6 -75.8 19

 20 MBS and other ABS -69.1 -47.7 -88.1 -24.8 -1.0 -1.3 -11.2 -1.9 6.5 1.3 -23.3 20

 21 Other 5.9 72.9 -10.2 27.3 -8.0 16.5 -2.5 12.7 43.6 12.2 -52.4 21

 22 Foreign banking offices in U.S. 32.2 -157.8 -9.4 -1.4 -6.2 -34.1 -74.3 -36.6 1.3 -27.0 16.6 22

 23 Banks in U.S.-affiliated areas 0.0 1.5 -1.4 3.6 1.0 0.6 1.6 -0.2 0.3 0.6 2.5 23

 24 Credit unions -8.4 -6.7 -15.7 -0.3 0.3 2.2 4.6 2.9 0.2 1.1 2.7 24

 25 MBS and other ABS 0.5 0.3 -0.7 -0.3 0.7 2.1 4.2 2.7 0.3 1.0 2.6 25

 26 Other -8.9 -7.0 -15.0 -0.1 -0.4 0.1 0.4 0.2 -0.2 0.1 0.1 26

 27 Property-casualty insurance companies -15.4 30.8 24.3 40.4 19.6 24.2 25.0 24.6 24.5 22.8 31.6 27

 28 MBS and other ABS 0.0 0.0 0.0 -0.6 3.2 8.7 7.2 7.4 7.6 12.7 3.8 28

 29 Other -15.4 30.8 24.3 41.1 16.4 15.5 17.8 17.2 16.9 10.1 27.9 29

 30 Life insurance companies -45.5 97.6 102.9 87.1 45.0 57.6 73.1 64.8 25.7 66.7 116.2 30

 31 MBS and other ABS 0.0 0.0 0.0 0.0 -24.3 9.1 9.0 9.0 9.1 9.1 12.9 31

 32 Other -45.5 97.6 102.9 87.1 69.3 48.5 64.1 55.8 16.6 57.6 103.3 32

 33 Private pension funds 2.9 -14.5 83.4 44.6 -47.3 -2.2 -40.0 7.5 12.8 11.0 -14.2 33

 34 State and local govt. retirement funds 23.8 -101.9 4.4 -11.5 -31.3 29.5 4.5 56.2 -6.1 63.3 14.5 34

 35 Federal government retirement funds -0.5 -0.0 0.2 1.4 1.7 -1.3 -2.3 -1.8 -0.2 -0.9 -3.1 35

 36 Money market mutual funds -148.8 -58.1 -15.7 -49.1 -3.0 0.0 3.1 -48.4 -6.4 51.7 -53.3 36

 37 Mutual funds 69.7 143.8 122.3 170.3 306.0 279.3 388.7 207.6 315.2 205.9 310.3 37

 38 Closed-end funds -24.8 6.0 4.2 -2.3 7.5 14.5 26.6 23.9 3.5 3.9 -1.3 38

 39 Exchange-traded funds 13.9 27.6 18.7 33.6 47.6 19.5 28.2 10.1 22.0 17.5 33.6 39

 40 Government-sponsored enterprises -77.7 -48.6 -29.6 -30.8 -50.0 -59.4 -22.9 -45.2 -118.3 -51.2 -24.8 40

 41 MBS and other ABS -64.4 -50.2 -46.5 -32.2 -31.2 -58.8 -22.4 -44.7 -117.8 -50.5 -24.3 41

 42 Other -13.4 1.6 17.0 1.4 -18.8 -0.6 -0.6 -0.6 -0.5 -0.7 -0.5 42

 43 Finance companies 3.0 6.3 -19.8 0.9 -6.3 -10.8 -14.8 -19.7 -0.4 -8.1 15.6 43

 44 REITs -22.8 4.3 7.2 3.8 9.5 -0.2 13.0 -0.4 1.1 -14.6 -4.7 44

 45 Brokers and dealers -259.0 47.5 35.2 -85.0 35.5 -11.1 31.9 -52.8 -2.8 -20.6 -1.9 45

 46 Holding companies -0.0 -8.4 7.3 -20.1 -4.7 34.0 1.6 -2.0 148.9 -12.6 -7.7 46

 47 Funding corporations 497.3 43.6 51.9 32.6 79.6 48.1 73.4 71.1 1.0 46.9 47.0 47

(1) Net purchases of foreign issues by U.S. residents.

(2) Net issuance less net acquisition of corporate bonds held as assets.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
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F.213 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 266.3 317.9 -6.9 -302.1 -148.8 -20.5 274.8 -61.7 -182.6 -112.7 -15.1 1

 2 Nonfinancial corporate business -334.3 -62.1 -277.4 -472.2 -399.5 -408.6 -256.2 -423.3 -452.8 -502.1 -426.8 2

 3 Rest of the world (2) -38.5 63.7 79.1 6.0 82.6 226.2 295.3 313.6 91.4 204.5 364.8 3

 4 Financial sectors 639.2 316.4 191.4 164.1 168.1 161.9 235.7 48.0 178.8 184.9 46.9 4

 5 U.S.-chartered depository institutions 12.1 11.6 11.9 6.4 1.6 2.2 1.0 0.5 2.6 4.9 2.5 5

 6 Property-casualty insurance companies 0.4 -5.3 -12.7 -10.7 -14.5 -7.6 -3.6 -6.4 -9.5 -11.0 -17.0 6

 7 Life insurance companies -10.7 -0.9 -4.8 -11.5 -9.9 -9.2 -6.6 -9.7 -10.7 -9.6 -13.2 7

 8 Closed-end funds -61.9 7.6 0.6 -2.9 2.4 -3.2 17.6 14.0 -18.9 -25.5 6.4 8

 9 Exchange-traded funds 177.2 116.5 118.0 117.6 185.2 179.0 207.7 60.2 214.4 233.9 57.3 9

 10 REITs 12.8 24.2 28.2 37.5 47.6 46.2 64.2 63.1 24.9 32.6 18.9 10

 11 Government-sponsored enterprises 27.6 96.0 38.1 29.2 14.5 2.4 7.8 -10.7 3.3 9.2 -5.9 11

 12 Brokers and dealers 120.2 -32.4 -11.1 14.1 -50.7 -31.0 -45.4 -41.6 0.3 -37.1 0.4 12

 13 Holding companies 321.4 68.6 19.8 2.9 0.6 -17.1 -7.0 -21.4 -27.5 -12.5 -2.3 13

 14 Funding corporations (3) 40.0 30.5 3.5 -18.4 -8.6 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net purchases 266.3 317.9 -6.9 -302.1 -148.8 -20.5 274.8 -61.7 -182.6 -112.7 -15.1 15

 16 Household sector -313.8 -1.3 -191.4 -236.9 -248.7 -150.8 249.5 -63.3 -684.7 -104.9 -440.1 16

 17 State and local governments -7.9 -2.3 -0.2 -2.6 1.8 1.4 6.9 4.4 -3.3 -2.2 3.0 17

 18 Federal government 256.3 0.6 24.1 40.3 -13.2 -4.8 -5.2 -2.8 -10.3 -1.1 -0.6 18

 19 Rest of the world (4) 105.8 154.9 74.6 -38.7 29.9 -55.4 3.1 -126.9 284.0 -381.9 364.2 19

 20 Monetary authority 0.0 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 U.S.-chartered depository institutions 6.3 4.7 -0.6 2.0 2.4 0.8 -2.1 -4.0 1.3 8.1 -2.5 21

 22 Foreign banking offices in U.S. 0.0 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Property-casualty insurance companies 35.4 -2.8 -20.9 2.9 4.6 3.5 5.8 10.7 0.1 -2.6 10.2 23

 24 Life insurance companies 81.8 33.4 45.6 37.7 15.3 13.4 2.8 19.2 -2.8 34.5 30.6 24

 25 Private pension funds -73.2 -95.4 25.2 -63.8 11.5 4.5 14.6 14.8 -6.0 -5.3 -4.8 25

 26 State and local govt. retirement funds 117.4 17.8 -80.6 -56.2 -44.1 -170.7 -160.0 -141.7 -141.9 -239.3 -170.7 26

 27 Federal government retirement funds -8.4 8.8 5.4 -4.2 -4.1 9.1 16.3 9.3 -9.2 20.0 7.2 27

 28 Mutual funds -38.1 86.5 44.3 4.9 -38.1 159.6 54.6 165.3 214.7 204.0 130.8 28

 29 Closed-end funds -21.3 -2.9 -4.8 -1.2 -8.6 -16.6 -13.1 -10.2 -16.2 -27.0 4.1 29

 30 Exchange-traded funds 154.2 70.5 88.3 71.6 132.9 166.8 179.6 47.1 197.1 243.6 13.5 30

 31 Brokers and dealers -28.5 -4.6 -18.5 -5.0 9.7 18.6 -78.0 16.5 -5.5 141.5 40.0 31

 32 Funding corporations 0.0 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

(1) Excludes mutual fund shares shown on table F.214.

(2) Net purchases of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Preferred shares issued by AIG to the federal goverment under the TARP program and the monetary authority sector’s preferred interest in AIA Aurora LLC and ALICO Holdings LLC.

(4) Net purchases of U.S. issues by foreign residents.

F.214 Mutual Fund Shares (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues -9.9 497.1 370.1 338.4 624.9 635.6 951.2 507.4 673.9 409.7 543.2 1

 2 Net purchases -9.9 497.1 370.1 338.4 624.9 635.6 951.2 507.4 673.9 409.7 543.2 2

 3 Household sector -41.1 339.4 232.6 263.1 435.0 713.9 1007.2 701.6 705.3 441.4 518.8 3

 4 Nonfinancial corporate business -16.5 35.3 11.1 -12.8 -0.0 0.8 0.8 0.8 0.8 0.8 0.8 4

 5 State and local governments -0.7 1.7 2.8 0.2 0.9 0.7 3.5 2.3 -1.7 -1.1 1.5 5

 6 Rest of the world -2.7 57.2 111.5 147.5 182.0 -99.1 -95.2 -207.6 -72.3 -21.3 -17.5 6

 7 U.S.-chartered depository institutions 1.3 14.8 -5.8 -0.8 -1.1 1.6 2.7 -8.9 5.6 7.1 8.6 7

 8 Credit unions -0.0 -0.7 0.2 0.3 0.4 -0.1 1.1 -0.8 -0.6 -0.2 0.1 8

 9 Property-casualty insurance companies -0.7 0.5 -0.1 -0.7 1.8 1.2 0.9 0.9 0.9 1.8 1.8 9

 10 Life insurance companies -10.7 0.0 1.0 1.1 1.3 1.4 1.3 1.4 1.4 1.4 1.4 10

 11 Private pension funds 85.5 56.5 35.1 1.5 54.7 27.0 38.9 26.7 43.4 -1.1 39.5 11

 12 State and local govt. retirement funds -24.3 -7.6 -18.2 -61.0 -50.1 -11.7 -10.1 -8.9 -9.0 -19.0 -11.7 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 699.9 -758.5 -92.2 146.6 186.1 186.1 76.0 219.4 181.6 267.5 280.3 1

 2 Household sector 4.6 28.3 50.1 -54.9 110.8 30.0 -8.5 42.6 109.9 -23.8 145.3 2

 3 Corporate business 64.2 -234.0 -87.0 68.9 80.4 46.1 20.4 57.5 56.3 50.3 34.2 3

 4 Noncorporate business 119.5 -102.0 -16.8 56.7 85.7 49.9 35.0 60.3 43.0 61.4 61.9 4

 5 Rest of the world 15.1 -14.8 24.0 43.2 30.4 39.1 33.3 24.9 41.0 57.0 54.7 5

 6 Foreign official institutions 1.7 -0.0 2.1 -1.2 0.8 1.0 -0.1 -0.4 2.1 2.2 -2.7 6

 7 Foreign banks 5.4 -5.2 15.6 16.8 0.6 20.0 23.0 17.1 25.1 14.8 6.1 7

 8 Other foreign 8.0 -9.6 6.3 27.6 29.1 18.1 10.4 8.2 13.8 40.0 51.4 8

 9 Financial sectors 496.4 -435.9 -62.5 32.6 -121.2 20.9 -4.2 34.0 -68.7 122.6 -15.8 9

 10 Finance companies -7.1 -30.4 -64.9 15.9 16.4 10.1 3.0 8.2 3.4 25.8 -20.1 10

 11 REITs -0.3 -12.7 -1.8 4.6 4.0 -2.9 -23.5 8.3 17.8 -14.4 12.1 11

 12 Brokers and dealers 45.5 -45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Holding companies 13.3 2.3 26.1 64.0 -120.2 13.8 16.3 17.5 -89.9 111.2 -7.8 13

 14 Funding corporations 444.9 -349.6 -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net change in assets 699.9 -758.5 -92.2 146.6 186.1 186.1 76.0 219.4 181.6 267.5 280.3 15

 16 Monetary authority (2) 490.4 -347.6 -44.8 -67.6 -29.9 -0.5 -0.7 -0.5 -0.6 -0.0 -0.1 16

 17 U.S.-chartered depository institutions 138.7 -285.9 -36.3 163.6 218.6 136.4 76.8 154.2 117.6 197.0 232.4 17

 18 Foreign banking offices in U.S. 67.6 -126.0 -11.3 42.9 -3.7 43.8 0.0 54.8 62.8 57.5 48.3 18

 19 Banks in U.S.-affiliated areas -1.7 -0.3 -3.3 1.1 1.0 1.3 0.3 3.6 1.8 -0.6 -0.6 19

 20 Credit unions 4.8 1.3 3.5 6.6 0.1 5.1 -0.4 7.2 -0.0 13.6 0.3 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table F.108.
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F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total other loans and advances 119.1 -447.0 -226.9 4.9 -13.5 125.8 53.9 319.3 73.9 56.3 124.7 1

 2 U.S. government loans 6.1 66.1 3.6 4.9 2.5 8.5 10.2 8.5 7.8 7.6 6.6 2

 3 Liab.: Household sector 0.3 -0.2 -1.0 -0.5 -0.1 1.1 0.6 2.5 -1.0 2.3 -0.9 3

 4 Nonfinancial corporate business 4.4 59.6 -4.3 -0.5 5.2 0.8 2.9 0.7 -0.3 -0.1 5.3 4

 5 Nonfinancial noncorporate business 2.1 3.6 0.6 2.9 0.6 2.0 2.1 1.4 3.6 0.9 -2.0 5

 6 State and local governments 0.8 0.8 0.9 0.9 0.4 0.5 1.3 -0.2 0.5 0.6 0.2 6

 7 Rest of the world -1.5 0.3 0.2 1.4 3.2 4.7 5.5 4.5 5.0 3.8 4.0 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Funding corporations 0.0 2.0 7.2 0.7 -6.8 -0.7 -2.2 -0.4 0.0 0.0 0.0 10

 11 Foreign loans to U.S. corporate business -44.7 -44.0 -20.2 33.9 -52.2 -8.7 9.7 25.9 -55.0 -15.5 55.2 11

 12 Liab.: Nonfinancial corporate business -44.7 -44.0 -20.2 33.9 -52.2 -8.7 9.7 25.9 -55.0 -15.5 55.2 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Foreign banking offices in U.S. -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans 2.0 -3.2 4.3 4.0 16.7 -2.8 2.6 19.0 4.7 -37.5 -10.7 17

 18 Liab.: Nonfinancial corporate business 2.0 -3.2 4.3 4.0 14.3 -0.7 8.5 20.0 6.3 -37.8 -6.6 18

 19 Rest of the world 0.0 0.0 0.0 0.0 2.4 -2.0 -5.9 -1.0 -1.5 0.3 -4.0 19

 20 Policy loans (Household liability) 5.9 0.7 3.4 2.4 1.4 0.9 -0.0 2.7 1.6 -0.6 0.9 20

 21 Asset: Federal government -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 21

 22 Life insurance companies 5.9 0.7 3.4 2.5 1.4 1.0 0.0 2.7 1.6 -0.5 0.9 22

 23 Govt.-sponsored enterprises loans (1) 38.1 -284.8 -144.7 -64.2 18.6 81.9 28.9 141.9 63.4 93.2 13.1 23

 24 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) -3.8 -0.4 1.6 -0.9 0.7 -0.0 0.9 -0.7 -1.1 0.7 3.6 25

 26 Nonfinancial noncorporate business (FCS) 8.5 0.2 5.6 -2.6 7.6 2.9 -20.6 15.9 2.5 14.1 -9.6 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) -1.2 -263.9 -148.3 -60.5 4.6 69.2 54.9 115.3 52.5 54.3 9.8 27

 28 Credit unions (FHLB) 8.3 -14.1 -0.4 -2.0 0.9 1.9 -11.4 4.9 12.5 1.7 1.7 28

 29 Life insurance companies (FHLB) 26.2 -6.6 -3.2 1.8 4.8 7.8 5.2 6.5 -2.9 22.5 7.7 29

 30 Securitized loans held by ABS issuers -15.6 -23.7 -4.9 -3.9 1.7 0.2 8.5 1.8 -2.0 -7.7 -0.4 30

 31 Liab.: Nonfinancial corporate business -15.6 -23.7 -4.9 -3.9 1.7 0.2 8.5 1.8 -2.0 -7.7 -0.4 31

 32 Finance company loans to business 16.9 -91.0 -15.2 3.0 11.2 2.0 20.9 38.8 5.1 -56.6 -5.0 32

 33 Liab.: Nonfinancial corporate business 15.2 -81.9 -13.7 2.7 10.1 1.8 18.8 34.9 4.6 -51.0 -4.5 33

 34 Nonfinancial noncorporate business 1.7 -9.1 -1.5 0.3 1.1 0.2 2.1 3.9 0.5 -5.7 -0.5 34

 35 Loans to nonfinancial corporate business (2) 110.5 -67.1 -53.3 24.9 -13.5 43.9 -26.9 80.6 48.3 73.4 65.0 35

 36 Asset: Household sector 12.2 -5.3 -0.6 -2.8 -2.5 5.0 7.1 5.4 1.9 5.6 5.0 36

 37 Life insurance companies 14.3 -13.3 -3.7 5.4 0.4 2.6 -3.3 4.2 1.9 7.5 4.0 37

 38 Mutual funds 12.4 1.3 -0.8 18.9 12.2 39.4 30.8 69.9 28.0 28.8 25.0 38

 39 ABS issuers 53.4 -27.4 -34.0 -1.5 -2.3 -11.7 -52.1 -14.6 16.0 4.1 15.0 39

 40 Brokers and dealers 3.1 -12.7 -12.7 6.9 -14.8 10.9 -9.5 20.2 6.3 26.5 14.0 40

 41 Funding corporations 15.1 -9.8 -1.5 -2.0 -6.5 -2.3 0.1 -4.4 -5.8 0.8 2.0 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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F.217 Total Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in mortgages 231.0 -51.9 -316.8 -148.6 -67.3 104.9 -118.6 139.8 299.9 98.5 -17.5 1

 2 Home 43.3 23.7 -161.9 -87.3 -74.0 -1.1 -99.9 16.6 178.0 -99.0 -75.7 2

 3 Multifamily residential 46.2 6.8 -4.8 7.1 34.2 37.5 16.4 45.7 41.8 46.0 35.8 3

 4 Commercial 119.5 -93.7 -158.2 -81.5 -33.3 60.5 -42.9 69.5 72.0 143.5 14.4 4

 5 Farm 22.0 11.3 8.1 13.1 5.8 8.0 7.9 8.0 8.1 8.1 8.0 5

 6 Net borrowing 231.0 -51.9 -316.8 -148.6 -67.3 104.9 -118.6 139.8 299.9 98.5 -17.5 6

 7 Household sector 90.7 57.7 -180.6 -68.7 -73.6 -2.5 -91.7 10.4 165.0 -93.9 -80.6 7

 8 Nonfinancial business 133.5 -121.3 -137.0 -93.4 1.5 99.7 -47.5 124.7 149.2 172.3 55.3 8

 9 Corporate -60.1 -131.6 -129.6 -78.8 5.3 24.5 -31.2 21.1 39.2 69.0 -14.8 9

 10 Noncorporate 193.6 10.2 -7.3 -14.6 -3.9 75.2 -16.3 103.6 110.0 103.3 70.1 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 6.8 11.8 0.8 13.5 4.8 7.8 20.6 4.6 -14.3 20.2 7.8 12

 13 Net change in assets 231.0 -51.9 -316.8 -148.6 -67.3 104.9 -118.6 139.8 299.9 98.5 -17.5 13

 14 Household sector 1.1 -0.9 -10.9 0.7 -13.9 -6.5 -6.8 -7.4 -6.5 -5.4 -7.9 14

 15 Nonfinancial corporate business -7.7 -4.1 -1.6 -0.6 -0.8 -0.8 -0.8 -0.8 -0.8 -0.8 -0.8 15

 16 Nonfinancial noncorporate business -3.0 -1.2 4.2 0.5 0.6 1.1 0.3 1.4 1.3 1.4 0.7 16

 17 State and local governments -4.3 8.4 13.0 1.8 6.0 4.4 17.3 11.3 -6.7 -4.2 7.6 17

 18 Federal government 13.5 12.6 -6.2 4.1 1.6 4.0 7.2 -0.5 3.7 5.5 1.9 18

 19 U.S.-chartered depository institutions -0.9 -178.1 -149.2 -105.3 13.7 -26.3 -9.6 -5.2 -24.9 -65.5 189.3 19

 20 Foreign banking offices in U.S. 5.2 -6.4 -2.5 -2.6 -1.9 -0.6 -4.9 -0.4 1.0 1.9 7.8 20

 21 Banks in U.S.-affiliated areas 1.8 -0.3 -6.5 -2.4 1.5 -2.5 -2.3 -2.7 -8.3 3.4 -1.8 21

 22 Credit unions 32.2 5.4 0.9 4.5 8.3 18.7 4.6 14.7 31.4 24.0 25.3 22

 23 Property-casualty insurance companies 0.2 -0.5 -0.3 0.8 0.7 2.3 0.9 2.9 1.8 3.7 1.3 23

 24 Life insurance companies 16.3 -16.3 -8.6 15.0 11.9 18.8 4.6 16.2 26.3 28.0 13.5 24

 25 Private pension funds -8.0 -2.4 2.8 -4.6 -2.5 -2.8 -2.7 -2.8 -3.0 -2.8 -2.5 25

 26 State and local govt. retirement funds -2.8 -2.7 -0.4 -0.1 -0.7 -2.6 -2.2 -1.9 -2.0 -4.2 -3.1 26

 27 Government-sponsored enterprises (1) 62.2 2.4 -71.0 -60.5 -71.4 72.5 -126.8 118.2 234.9 63.7 -222.9 27

 28 Agency- and GSE-backed mortgage pools 507.4 458.3 186.9 165.3 132.2 132.4 138.8 88.9 158.3 143.5 101.8 28

 29 ABS issuers -271.5 -248.0 -211.6 -144.6 -134.7 -82.6 -101.5 -109.3 -85.0 -34.8 -120.3 29

 30 Finance companies -64.2 -47.8 -54.6 -32.3 -26.7 -22.5 -29.3 -10.6 -22.0 -28.0 -20.2 30

 31 REITs -46.5 -30.2 -1.3 11.7 8.6 -2.0 -5.5 27.8 0.6 -30.8 12.6 31
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F.218 Home Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing 43.3 23.7 -161.9 -87.3 -74.0 -1.1 -99.9 16.6 178.0 -99.0 -75.7 1

 2 Household sector 93.7 66.0 -182.3 -68.7 -75.2 -7.4 -94.9 7.2 163.4 -105.2 -83.8 2

 3 Nonfinancial corporate business -10.2 -12.4 -6.8 -3.4 -0.5 0.3 -1.2 0.7 0.8 0.9 1.7 3

 4 Nonfinancial noncorporate business -40.2 -29.9 27.2 -15.3 1.7 6.0 -3.8 8.7 13.8 5.2 6.4 4

 5 Net change in assets 43.3 23.7 -161.9 -87.3 -74.0 -1.1 -99.9 16.6 178.0 -99.0 -75.7 5

 6 Household sector 0.4 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 6

 7 Nonfinancial corporate business -4.8 -2.5 -0.9 -0.3 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 7

 8 Nonfinancial noncorporate business -1.1 -0.4 1.5 0.2 0.2 0.4 0.1 0.5 0.5 0.5 0.3 8

 9 State and local governments -1.3 6.0 8.2 2.1 4.0 2.8 9.5 6.4 -3.0 -1.8 4.3 9

 10 Federal government 2.7 5.7 -2.6 0.9 1.1 0.4 2.7 -3.1 -2.4 4.6 1.0 10

 11 U.S.-chartered depository institutions -141.9 -125.9 -48.9 -37.6 5.5 -97.2 -9.0 -82.0 -116.6 -181.3 109.8 11

 12 Foreign banking offices in U.S. -1.5 -6.0 0.1 0.3 0.5 -0.4 -0.2 -0.8 -0.8 0.1 1.0 12

 13 Banks in U.S.-affiliated areas 1.4 -0.3 -2.5 -2.4 2.3 -1.1 -0.3 -3.0 -0.6 -0.6 -2.0 13

 14 Credit unions 32.2 5.4 0.9 4.5 8.3 18.7 4.6 14.7 31.4 24.0 25.3 14

 15 Life insurance companies -0.8 0.2 0.3 -0.1 0.5 0.3 -0.7 0.5 1.4 -0.2 -0.3 15

 16 Private pension funds 0.1 0.7 -0.1 -0.3 -0.1 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 16

 17 State and local govt. retirement funds -1.0 -1.0 -0.1 -0.0 -0.2 -0.9 -0.8 -0.7 -0.7 -1.5 -1.1 17

 18 Government-sponsored enterprises 8.8 -23.2 -76.4 -66.5 -82.5 90.4 -116.4 129.2 256.0 92.6 -208.7 18

 19 Agency- and GSE-backed mortgage pools 502.6 445.6 175.8 148.0 105.0 98.8 110.0 51.4 123.5 110.4 82.2 19

 20 ABS issuers -231.7 -202.0 -159.1 -119.3 -104.9 -83.4 -71.1 -94.7 -84.7 -83.1 -61.6 20

 21 Finance companies -74.8 -45.2 -50.2 -19.8 -12.2 -17.8 -20.6 -11.3 -17.5 -21.9 -21.4 21

 22 REITs -46.1 -25.2 0.2 11.0 6.9 -3.3 0.8 18.3 0.0 -32.3 4.3 22

 Memo:

 23 Charge-offs (2) 137.8 239.0 187.6 155.4 143.6 93.4 27.9 26.0 22.4 17.1 14.8 23

 24 Home equity loans included above (3) 1.1 -51.2 -56.1 -56.0 -64.2 -57.0 -73.6 -60.2 -53.4 -41.0 -38.9 24

 25 U.S.-chartered depository institutions 41.6 -21.9 -31.8 -41.1 -51.7 -46.8 -61.6 -46.7 -48.1 -30.8 -36.0 25

 26 Foreign banking offices in U.S. -0.4 -0.6 0.0 -0.0 -0.0 0.1 0.1 -0.1 0.4 0.1 0.0 26

 27 Credit unions 4.6 -4.1 -6.4 -6.0 -6.5 -3.7 -6.7 -6.0 0.0 -2.1 1.3 27

 28 ABS issuers -25.2 -15.1 -8.7 -4.8 -3.5 -3.1 -3.1 -4.7 -2.3 -2.3 -1.6 28

 29 Finance companies -19.5 -9.6 -9.3 -4.0 -2.4 -3.6 -2.3 -2.8 -3.3 -5.9 -2.6 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from the flow (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 46.2 6.8 -4.8 7.1 34.2 37.5 16.4 45.7 41.8 46.0 35.8 1

 2 Nonfinancial corporate business 2.2 0.2 -0.3 0.4 1.8 1.7 -0.1 2.3 2.2 2.4 1.9 2

 3 Nonfinancial noncorporate business 41.7 4.3 -5.0 6.7 33.6 32.5 -1.8 44.0 41.3 46.3 35.7 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 2.3 2.3 0.4 0.1 -1.1 3.3 18.3 -0.6 -1.7 -2.7 -1.8 5

 6 Net change in assets 46.2 6.8 -4.8 7.1 34.2 37.5 16.4 45.7 41.8 46.0 35.8 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 8

 9 Nonfinancial noncorporate business -1.0 -0.4 1.5 0.2 0.2 0.4 0.1 0.5 0.4 0.5 0.2 9

 10 State and local governments -2.4 2.0 4.0 -0.2 1.7 1.3 6.4 4.1 -3.1 -2.0 2.8 10

 11 Federal government 0.1 0.1 -0.3 -0.3 -0.3 0.0 -0.4 -0.0 -0.6 1.1 -0.2 11

 12 U.S.-chartered depository institutions 14.9 -9.0 -12.2 -6.6 10.2 29.4 10.5 29.9 33.8 43.5 37.5 12

 13 Foreign banking offices in U.S. -0.2 -0.4 -0.5 -0.6 -1.5 -0.4 -0.5 -1.6 0.7 0.0 -0.5 13

 14 Life insurance companies -0.1 -3.2 -1.3 2.1 1.7 2.5 -0.5 2.3 4.5 3.8 1.5 14

 15 Private pension funds 0.3 0.3 0.4 -0.3 -0.3 -0.3 -0.4 -0.4 -0.4 -0.3 -0.3 15

 16 State and local govt. retirement funds -0.9 -0.8 -0.1 -0.0 -0.2 -0.8 -0.6 -0.6 -0.6 -1.3 -0.9 16

 17 Government-sponsored enterprises 42.5 14.2 2.0 2.8 6.2 -21.9 -14.1 -15.4 -25.1 -33.2 -18.5 17

 18 Agency- and GSE-backed mortgage pools 4.6 13.0 11.3 19.4 27.0 33.7 29.1 37.7 34.8 33.2 19.7 18

 19 ABS issuers -10.8 -6.1 -8.6 -7.7 -9.6 -6.1 -13.8 -11.2 -2.1 2.5 -4.8 19

 20 Finance companies 0.2 -0.7 -0.7 -1.5 -0.8 -0.8 -0.4 -2.2 -0.1 -0.6 0.1 20

 21 REITs -0.9 -2.0 -0.3 -0.2 0.1 0.5 1.1 2.6 -0.4 -1.2 -0.8 21
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F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing 119.5 -93.7 -158.2 -81.5 -33.3 60.5 -42.9 69.5 72.0 143.5 14.4 1

 2 Household sector -3.0 -8.3 1.7 0.0 1.6 4.8 3.2 3.2 1.6 11.2 3.2 2

 3 Nonfinancial corporate business -58.1 -123.5 -125.8 -80.3 1.8 21.0 -31.3 16.7 34.7 64.1 -20.0 3

 4 Nonfinancial noncorporate business 176.1 28.7 -34.5 -14.5 -42.8 30.2 -17.1 44.3 48.4 45.2 21.6 4

 5 REITs 4.5 9.5 0.4 13.3 6.0 4.5 2.3 5.2 -12.7 22.9 9.5 5

 6 Net change in assets 119.5 -93.7 -158.2 -81.5 -33.3 60.5 -42.9 69.5 72.0 143.5 14.4 6

 7 Household sector 0.9 -0.7 -1.1 -0.6 -0.3 0.4 -0.2 0.5 0.8 0.7 1.2 7

 8 Nonfinancial corporate business -2.8 -1.6 -0.6 -0.2 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 8

 9 Nonfinancial noncorporate business -0.8 -0.3 1.1 0.1 0.2 0.3 0.1 0.4 0.3 0.4 0.2 9

 10 State and local governments -0.5 0.4 0.8 -0.0 0.3 0.3 1.3 0.8 -0.6 -0.4 0.6 10

 11 Federal government 10.4 6.4 -3.7 3.2 0.8 3.9 5.3 2.5 6.5 1.2 0.8 11

 12 U.S.-chartered depository institutions 117.4 -36.8 -95.1 -62.9 -8.1 38.8 -13.8 44.2 55.1 69.6 38.1 12

 13 Foreign banking offices in U.S. 6.8 0.1 -2.1 -2.3 -0.9 0.2 -4.1 2.0 1.1 1.8 7.3 13

 14 Banks in U.S.-affiliated areas 0.4 -0.0 -4.0 -0.1 -0.8 -1.4 -2.1 0.3 -7.7 4.0 0.2 14

 15 Property-casualty insurance companies 0.2 -0.5 -0.3 0.8 0.7 2.3 0.9 2.9 1.8 3.7 1.3 15

 16 Life insurance companies 14.9 -11.5 -6.8 12.3 9.8 15.4 5.2 12.8 19.7 23.7 11.7 16

 17 Private pension funds -8.4 -3.4 2.5 -4.0 -2.2 -2.3 -2.2 -2.2 -2.4 -2.4 -2.0 17

 18 State and local govt. retirement funds -1.0 -0.9 -0.1 -0.0 -0.2 -0.9 -0.7 -0.7 -0.7 -1.4 -1.0 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers -28.9 -39.9 -43.9 -17.6 -20.2 6.9 -16.6 -3.4 1.8 45.8 -53.9 20

 21 Finance companies 10.5 -1.9 -3.7 -11.0 -13.8 -3.8 -8.3 2.9 -4.3 -5.5 1.2 21

 22 REITs 0.4 -2.9 -1.2 0.9 1.5 0.8 -7.3 6.8 1.0 2.7 9.1 22

F.221 Farm Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 22.0 11.3 8.1 13.1 5.8 8.0 7.9 8.0 8.1 8.1 8.0 1

 2 Nonfinancial corporate business 6.0 4.1 3.2 4.5 2.2 1.5 1.4 1.4 1.6 1.5 1.7 2

 3 Nonfinancial noncorporate business 16.0 7.2 4.9 8.6 3.6 6.5 6.5 6.6 6.5 6.6 6.3 3

 4 Net change in assets 22.0 11.3 8.1 13.1 5.8 8.0 7.9 8.0 8.1 8.1 8.0 4

 5 Household sector -0.1 7.9 -1.7 9.4 -5.6 1.1 1.5 0.1 0.7 2.0 -1.1 5

 6 Nonfinancial noncorporate business -0.1 -0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 State and local governments -0.0 0.0 0.1 -0.0 0.0 0.0 0.1 0.1 -0.0 -0.0 0.0 7

 8 Federal government 0.2 0.4 0.4 0.3 0.1 -0.3 -0.4 0.2 0.2 -1.3 0.3 8

 9 U.S.-chartered depository institutions 8.7 -6.4 7.0 1.7 6.1 2.7 2.7 2.7 2.8 2.7 4.0 9

 10 Foreign banking offices in U.S. 0.0 -0.0 0.0 -0.0 0.0 -0.0 -0.1 -0.0 0.0 -0.0 0.0 10

 11 Life insurance companies 2.3 -1.7 -0.9 0.6 0.0 0.6 0.6 0.6 0.6 0.6 0.6 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 10.9 11.4 3.4 3.3 4.9 4.1 3.8 4.4 3.9 4.3 4.3 13

 14 Agency- and GSE-backed mortgage pools 0.1 -0.2 -0.2 -2.1 0.3 -0.2 -0.2 -0.1 -0.1 -0.2 -0.1 14

(1) Excludes mortgages on farm houses.
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F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities (Households) 34.9 -103.6 -25.3 108.5 169.7 173.8 179.0 162.9 190.6 162.6 203.3 1

 2 Net change in assets 34.9 -103.6 -25.3 108.5 169.7 173.8 179.0 162.9 190.6 162.6 203.3 2

 3 Households (nonprofit organizations) (1) 7.1 -5.8 -10.4 -3.9 -8.8 -6.5 -7.4 -7.6 -7.4 -3.6 -5.5 3

 4 Nonfinancial corporate business -1.2 -2.1 -11.4 1.9 1.7 -5.6 5.6 -7.6 5.7 -26.1 28.6 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 19.5 87.9 133.1 128.5 132.1 113.1 148.2 117.2 97.7 89.2 140.5 6

 7 U.S.-chartered depository institutions 70.1 -64.5 -70.3 7.1 28.1 52.9 9.8 32.9 69.9 99.1 20.1 7

 8 Credit unions -0.4 0.9 -10.7 -3.4 20.6 21.9 26.9 18.9 25.7 16.2 36.8 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers -42.3 -37.8 -42.3 -4.1 3.8 -1.4 8.1 -5.8 -4.9 -2.8 -2.1 10

 11 Finance companies -17.9 -82.4 -13.4 -17.4 -7.8 -0.6 -12.1 14.9 4.0 -9.4 -15.0 11

 Memo:

 12 Credit card loans (3) 2.3 -88.0 -69.7 1.8 5.0 10.9 11.0 8.1 7.5 17.2 15.9 12

 13 Auto loans -23.9 -58.2 -40.7 17.1 59.9 69.5 47.6 80.9 101.6 47.8 53.9 13

 14 Student loans (4) 93.7 101.0 80.8 99.9 119.0 91.7 147.7 36.1 134.9 48.1 154.2 14

 15 Other consumer credit (5) -37.2 -58.4 4.2 -10.2 -14.2 1.6 -27.2 37.7 -53.5 49.5 -20.7 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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F.223 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in trade payables -170.6 13.4 175.7 46.2 149.1 176.4 202.6 199.3 210.9 92.7 115.5 1

 2 Household sector 22.2 41.4 -29.4 1.2 4.0 1.0 1.0 1.0 1.0 1.0 4.0 2

 3 Nonfinancial corporate business -225.2 -82.6 156.3 25.2 83.2 118.1 137.8 120.2 143.1 71.1 118.6 3

 4 Nonfinancial noncorporate business 5.7 16.8 30.3 7.9 1.3 7.6 17.4 -0.7 7.3 6.5 9.2 4

 5 State and local governments 38.6 38.9 38.5 38.4 39.1 39.6 39.2 39.3 39.9 40.1 40.0 5

 6 Federal government 22.6 -56.2 6.3 9.4 15.2 18.3 2.8 31.7 25.4 13.3 -4.0 6

 7 Rest of the world -9.9 6.1 25.8 -32.2 6.3 -8.6 -0.3 6.8 3.4 -44.2 -46.3 7

 8 Brokers and dealers -24.7 48.9 -52.0 -3.8 -0.0 0.3 4.6 1.0 -9.3 4.9 -6.0 8

 9 Net change in trade receivables -192.1 -114.6 166.3 113.6 109.5 165.1 212.7 228.7 174.2 44.7 129.1 9

 10 Nonfinancial corporate business -169.6 -31.2 105.7 83.8 83.6 136.5 193.0 170.0 138.6 44.4 52.5 10

 11 Nonfinancial noncorporate business -3.0 -26.3 37.0 5.8 7.6 13.6 3.7 17.2 16.1 17.7 8.9 11

 12 State and local governments -15.4 -4.6 13.1 2.3 5.7 8.8 8.7 11.2 9.1 6.2 7.0 12

 13 Federal government 4.2 -21.1 -0.7 4.8 2.6 -1.5 -14.1 14.4 -4.3 -2.1 -7.5 13

 14 Rest of the world 6.5 6.6 19.8 17.7 11.5 9.8 17.4 21.0 14.4 -13.6 44.6 14

 15 Property-casualty insurance companies 1.3 -3.7 0.8 3.4 4.8 3.3 8.1 10.4 6.8 -12.3 29.5 15

 16 ABS issuers -16.1 -34.3 -9.5 -4.2 -6.4 -5.4 -4.2 -15.6 -6.4 4.4 -5.7 16

 17 Discrepancy 21.5 128.0 9.5 -67.4 39.7 11.3 -10.1 -29.4 36.7 48.0 -13.6 17

F.224 Security Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in liabilities -352.9 -5.4 105.0 -7.4 97.7 104.3 -9.8 172.3 44.8 209.9 82.0 1

 2 Household sector -160.7 38.1 75.2 -39.3 64.9 35.4 16.4 -21.2 44.6 101.9 50.0 2

 3 Brokers and dealers -192.2 -43.5 29.8 31.9 32.8 68.9 -26.2 193.5 0.2 108.1 32.0 3

 4 Net change in assets -352.9 -5.4 105.0 -7.4 97.7 104.3 -9.8 172.3 44.8 209.9 82.0 4

 5 Household sector -179.6 -35.7 23.5 0.9 42.0 58.5 -53.9 202.0 -10.1 95.9 13.0 5

 6 U.S.-chartered depository institutions -2.2 -3.4 3.2 12.2 -1.9 7.9 11.7 15.6 8.3 -3.9 21.9 6

 7 Foreign banking offices in U.S. -10.4 -4.5 3.1 18.8 -7.3 2.5 16.0 -24.0 2.0 16.0 -2.9 7

 8 Brokers and dealers -160.7 38.1 75.2 -39.3 64.9 35.4 16.4 -21.2 44.6 101.9 50.0 8
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F.225 Life Insurance Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 65.2 27.4 14.5 81.2 -11.9 30.0 11.7 28.7 45.3 34.4 65.9 1

 2 Federal government 1.0 1.1 0.9 1.3 0.3 0.3 0.2 0.8 -0.5 0.5 -0.0 2

 3 Life insurance companies 64.2 26.3 13.6 79.9 -12.2 29.8 11.5 28.0 45.8 33.8 65.9 3

 4 Net change in assets 65.2 27.4 14.5 81.2 -11.9 30.0 11.7 28.7 45.3 34.4 65.9 4

 5 Households 59.9 24.6 6.2 73.9 -26.5 28.7 2.0 22.8 73.8 16.0 50.9 5

 6 U.S.-chartered depository institutions 6.4 0.8 4.5 4.8 7.4 -3.7 4.8 4.7 -33.0 8.7 4.8 6

 7 Holding companies -1.2 2.1 3.8 2.4 7.3 5.1 5.0 1.1 4.5 9.6 10.1 7

F.226 Pension Entitlements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in liabilities 540.2 413.5 598.3 484.9 501.0 507.5 453.9 468.2 512.6 595.3 530.3 1

 2 Life insurance companies (1) 107.6 -45.7 93.0 77.9 72.6 47.4 37.0 26.4 58.8 67.6 76.0 2

 3 Private pension funds (2) 126.7 149.5 182.5 86.3 125.1 144.5 117.8 180.0 140.6 139.5 144.1 3

 4 State and local govt. retirement funds 209.5 215.9 220.7 209.3 203.3 208.3 208.3 208.3 208.3 208.3 208.3 4

 5 Federal government retirement funds (3) 96.5 93.7 102.1 111.4 99.9 107.3 90.8 53.6 104.8 179.9 101.9 5

 6 Net change in assets (Households) (4) 540.2 413.5 598.3 484.9 501.0 507.5 453.9 468.2 512.6 595.3 530.3 6

(1) Annuities, including those at IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs) (table F.226.i), except those at life insurance companies.

F.227 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in taxes payable by all -123.8 -3.4 19.4 20.6 11.3 11.3 27.4 -85.9 35.3 68.4 4.9 1

 businesses

 2 Nonfinancial corporate business 3.1 -3.3 7.2 8.8 2.3 -10.1 -17.1 -22.2 -5.4 4.3 -40.3 2

 3 Nonfinancial noncorporate business 6.7 -6.3 -0.7 1.2 2.1 3.7 1.0 4.6 4.3 4.8 2.4 3

 4 U.S.-chartered depository institutions -86.0 7.3 6.6 10.6 7.0 0.1 7.4 -52.9 24.1 21.9 31.3 4

 5 Property-casualty insurance companies -28.1 5.3 5.6 -4.4 3.8 19.1 30.4 -8.1 10.7 43.5 9.3 5

 6 Life insurance companies -19.7 -7.0 2.6 5.2 -4.6 -2.3 -0.6 -6.7 0.0 -1.8 6.1 6

 7 Finance companies -0.1 -2.8 0.3 0.5 0.2 0.1 0.8 -0.6 0.9 -0.9 0.6 7

 8 Brokers and dealers 0.3 3.2 -2.1 -1.1 0.5 0.6 5.4 0.1 0.6 -3.5 -4.5 8

 9 Net change in business taxes receivable -56.8 30.1 28.2 22.9 14.0 -14.3 -3.6 -47.0 11.3 -18.0 -28.0 9

 10 State and local governments 5.2 -5.8 1.1 2.2 2.1 3.7 -1.2 -0.5 9.6 6.8 -3.8 10

 11 Federal government -62.0 35.9 27.1 20.8 11.9 -18.0 -2.4 -46.5 1.7 -24.9 -24.2 11

 12 Discrepancy -67.0 -33.5 -8.8 -2.3 -2.7 25.6 31.0 -38.9 24.0 86.4 32.9 12

F.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total household investment -293.7 -81.5 174.5 -73.8 -28.2 -22.1 17.1 -36.9 -51.2 -17.5 -32.5 1

 2 Nonfinancial noncorporate business -305.3 -82.0 173.6 -72.1 -34.7 -19.8 22.4 -38.2 -35.1 -28.4 -29.9 2

 3 Brokers and dealers 11.6 0.6 0.9 -1.7 6.5 -2.3 -5.3 1.3 -16.1 10.9 -2.6 3
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F.229 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 1931.9 476.3 978.0 1606.1 1428.6 1511.8 1967.1 1110.2 1621.1 1348.7 1066.1 1

 2 Household sector 3.2 -4.9 2.7 -0.4 0.6 3.0 4.1 7.4 -3.7 4.2 6.7 2

 3 Nonfinancial corporate business 524.3 50.0 412.4 829.6 849.5 619.0 462.6 553.5 634.5 825.5 173.4 3

 4 Nonfinancial noncorporate business 114.1 32.8 -50.6 34.5 18.3 13.4 14.4 7.1 23.0 9.2 -4.9 4

 5 State and local governments 163.0 303.7 275.4 310.7 295.0 295.5 312.8 224.0 320.6 324.6 321.4 5

 6 Federal government 107.1 97.0 110.7 122.1 93.7 102.0 100.1 86.1 462.3 -240.6 73.1 6

 7 Rest of the world 853.7 -269.5 379.7 414.1 21.5 221.6 15.7 908.2 -277.6 239.9 -18.5 7

 8 Monetary authority 2.2 6.1 29.2 -26.7 2.0 9.8 62.6 -43.0 -15.6 35.3 81.3 8

 9 U.S.-chartered depository institutions -144.4 358.2 -8.9 -94.9 147.2 131.3 290.2 -61.1 -1.2 297.3 171.9 9

 10 Foreign banking offices in U.S. 105.0 -142.3 -18.1 37.3 -38.1 -27.8 71.3 -26.6 -136.9 -19.1 12.1 10

 11 Banks in U.S.-affiliated areas -3.8 4.3 -5.9 -3.9 -2.0 -3.0 -3.6 0.3 -3.1 -5.6 2.1 11

 12 Credit unions 1.1 14.7 -8.3 1.3 0.3 1.5 12.8 -2.5 -9.0 4.7 2.6 12

 13 Property-casualty insurance companies 40.2 -2.6 9.2 33.1 4.4 2.5 -25.5 23.5 3.1 8.8 22.0 13

 14 Life insurance companies -7.2 66.7 46.0 50.4 36.6 14.4 27.4 -77.6 93.3 14.5 86.7 14

 15 Government-sponsored enterprises 38.1 62.3 -42.2 -49.2 -6.1 -9.4 -16.7 7.7 -8.9 -19.8 -13.8 15

 16 Finance companies 10.4 -91.2 -58.5 -13.0 -25.5 -25.9 -11.3 -1.7 -113.2 22.8 20.2 16

 17 REITs -2.7 -5.3 4.1 7.1 25.4 -24.1 -27.6 5.1 -56.2 -17.5 28.6 17

 18 Brokers and dealers -116.2 63.9 22.2 -8.6 0.3 47.4 278.7 -81.5 58.8 -66.5 -80.7 18

 19 Holding companies -163.8 -25.6 -68.2 -36.8 -66.0 221.9 336.0 -88.0 605.2 34.4 60.9 19

 20 Funding corporations 407.8 -41.8 -53.0 -0.7 71.5 -81.3 63.0 -330.6 45.7 -103.4 121.1 20

 21 Net change in assets 509.3 461.7 910.3 1290.5 993.6 1714.4 2179.7 2247.2 835.4 1595.2 986.8 21

 22 Household sector 55.1 34.9 8.3 70.7 -5.1 23.9 -5.8 8.9 26.0 66.6 15.7 22

 23 Nonfinancial corporate business -347.3 104.5 518.5 428.1 542.6 543.5 598.8 698.2 234.0 643.0 789.8 23

 24 Nonfinancial noncorporate business 107.5 -92.5 104.8 7.5 44.1 47.0 8.5 60.7 56.2 62.5 28.5 24

 25 State and local governments -5.3 25.2 -22.4 -0.3 6.5 6.2 12.4 9.7 0.8 2.0 8.1 25

 26 Federal government -28.0 35.4 -3.5 1.9 -1.0 5.6 2.7 -11.6 15.3 16.0 8.2 26

 27 Rest of the world 141.9 166.5 323.5 251.2 31.7 61.7 -202.2 641.9 -564.2 371.2 -412.3 27

 28 Monetary authority 530.2 -493.8 7.8 142.9 -27.6 32.3 76.6 31.6 -2.6 23.6 8.3 28

 29 U.S.-chartered depository institutions 19.7 40.9 -132.4 -95.0 -28.1 4.7 -2.3 245.7 -105.7 -119.1 -81.4 29

 30 Foreign banking offices in U.S. 3.1 -4.4 -15.3 15.0 -0.3 13.1 35.8 31.1 -14.0 -0.6 56.3 30

 31 Banks in U.S.-affiliated areas -1.0 -4.5 4.5 0.8 0.2 8.6 1.8 23.9 11.1 -2.6 -12.5 31

 32 Credit unions -0.4 0.2 41.1 -12.1 0.8 -1.6 -8.5 41.5 -44.7 5.3 -23.9 32

 33 Property-casualty insurance companies 6.8 16.3 -22.2 -1.0 -2.6 14.5 16.4 30.8 14.4 -3.6 -8.2 33

 34 Life insurance companies 36.1 -21.4 -5.7 55.7 36.4 28.2 85.4 -86.2 76.9 36.7 98.6 34

 35 Private pension funds 124.3 184.3 8.2 51.6 52.7 70.8 36.0 70.4 67.4 109.6 115.9 35

 36 State and local govt. retirement funds 145.3 293.2 291.1 312.5 294.5 308.8 326.4 238.2 335.8 334.8 338.1 36

 37 Federal government retirement funds 80.9 77.5 85.9 90.0 88.6 88.6 88.6 88.6 495.4 -318.3 88.6 37

 38 Money market mutual funds -33.9 -8.3 -3.4 -0.8 6.1 2.8 -21.4 15.9 -46.8 63.6 -14.7 38

 39 Mutual funds 3.2 -5.1 -12.0 2.9 -33.1 19.1 44.9 3.4 129.5 -101.4 -0.0 39

 40 Government-sponsored enterprises -42.6 1.2 29.3 -0.1 4.1 13.1 61.3 -0.8 -3.5 -4.8 -54.1 40

 41 Finance companies 4.4 28.4 -103.3 6.1 -25.7 -6.0 -48.5 -15.2 -97.3 137.1 -9.4 41

 42 REITs -0.8 10.2 1.3 8.5 25.8 11.6 21.9 36.4 -54.3 42.2 46.1 42

 43 Brokers and dealers -615.1 54.9 -104.2 -101.7 -61.4 156.9 557.2 284.2 -104.1 -109.6 -220.4 43

 44 Holding companies 283.1 85.4 -31.2 36.5 37.4 248.1 365.3 -175.0 465.0 337.1 182.4 44

 45 Funding corporations 42.1 -67.2 -58.4 19.6 7.2 13.0 128.3 -25.2 -55.2 4.0 39.0 45

 46 Discrepancy 1422.6 14.6 67.7 315.5 435.0 -202.6 -212.6 -1137.0 785.8 -246.6 79.3 46
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F.230 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world 329.1 310.4 301.1 409.0 388.3 359.6 333.1 384.6 372.9 348.0 351.6 1

 2 Equity 127.0 34.6 40.6 64.7 34.6 12.5 -3.4 22.7 47.4 -16.5 19.8 2

 3 Reinvested earnings 233.1 227.4 302.5 326.5 332.7 353.2 315.5 345.7 371.4 380.2 359.7 3

 4 Intercompany accounts -31.1 48.3 -42.0 17.8 21.0 -6.1 20.9 16.3 -46.0 -15.7 -27.9 4

 5 Asset: Nonfinancial corporate business 262.6 269.7 303.3 399.8 365.8 333.2 291.4 368.7 300.4 372.2 347.0 5

 6 U.S.-chartered depository institutions 17.6 -0.8 2.7 -5.7 -0.9 5.8 0.6 -21.7 34.5 9.7 30.6 6

 7 Property-casualty insurance companies 6.8 16.3 -22.2 -1.0 -2.6 14.5 16.4 30.8 14.4 -3.6 -8.2 7

 8 Life insurance companies 4.6 1.6 1.9 3.0 3.6 -0.4 1.9 -1.9 -2.5 1.0 -1.3 8

 9 Finance companies 24.2 11.0 6.8 9.0 11.3 -5.3 8.2 -0.6 13.4 -42.2 -28.1 9

 10 Brokers and dealers 13.3 12.5 8.7 3.9 11.2 11.8 14.5 9.3 12.7 10.9 11.7 10

 Foreign direct investment in U.S. (1):

 11 Liab.: Nonfinancial corporate business 189.6 104.6 157.0 195.2 165.1 170.0 96.4 143.5 196.9 243.3 255.3 11

 12 Nonfinancial noncorporate business -0.2 0.1 0.3 0.1 0.6 0.1 -0.1 -0.1 0.3 0.2 0.4 12

 13 Foreign banking offices in U.S. 24.8 16.6 12.4 27.2 -2.4 5.4 7.7 2.2 6.2 5.4 6.4 13

 14 Property-casualty insurance companies 14.9 2.4 2.8 -2.1 -5.7 4.5 6.6 -0.2 1.4 10.0 7.6 14

 15 Life insurance companies 12.5 11.1 6.3 -9.1 2.5 7.4 6.0 11.1 7.9 4.8 4.6 15

 16 Finance companies 12.2 12.8 13.2 7.5 -2.2 -0.7 -3.8 2.5 1.0 -2.4 -0.7 16

 17 Brokers and dealers 55.8 2.1 13.2 10.8 8.0 6.1 6.5 4.1 3.1 10.6 8.0 17

 18 Funding corporations 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 18

 19 Asset: Rest of the world 310.1 150.4 205.9 230.2 166.4 193.4 119.9 163.7 217.3 272.6 282.3 19

 20 Equity 255.7 126.8 140.5 98.5 59.6 92.8 52.4 42.1 160.4 116.4 126.8 20

 21 Reinvested earnings 39.1 21.7 62.7 80.9 105.7 103.9 107.7 129.2 60.3 118.3 117.5 21

 22 Intercompany accounts 15.2 2.0 2.7 50.9 1.0 -3.4 -40.2 -7.6 -3.5 37.8 38.0 22

 Federal government equity in IBRD, etc.:

 23 Liab.: Rest of the world 1.4 1.7 2.3 2.6 2.4 2.2 0.1 8.3 0.1 0.3 -2.8 23

 24 Asset: Federal government 1.4 1.7 2.3 2.6 2.4 2.2 0.1 8.3 0.1 0.3 -2.8 24

 Federal Reserve Bank stock:

 25 Liab.: Monetary authority 2.6 4.6 0.9 0.4 0.5 0.1 0.8 -0.3 -0.2 0.3 2.2 25

 26 Asset: U.S.-chartered depository institutions 2.6 4.6 0.9 0.4 0.5 0.1 0.8 -0.3 -0.2 0.3 2.2 26

 Equity in govt.-sponsored enterprises:

 27 Liab.: Government-sponsored enterprises -4.2 0.0 -2.7 -5.9 -1.8 0.5 -3.6 1.1 -0.6 5.0 -4.7 27

 28 Asset: Nonfin. corporate business (Fannie Mae and FCS) -0.1 0.0 0.1 -0.0 0.0 0.0 0.3 -0.2 -0.1 0.1 0.6 28

 29 Nonfinancial noncorporate (FCS) 1.2 -0.0 0.4 0.3 0.2 0.6 -0.2 1.1 1.0 0.5 1.1 29

 30 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 U.S.-chartered depository institutions (FHLB) -6.5 0.7 -3.0 -6.1 -2.2 -0.6 -3.4 0.1 -2.3 3.3 -6.7 31

 32 Credit unions (FHLB) 0.3 -0.4 -0.2 0.7 0.1 -0.6 0.2 0.1 0.1 -2.6 0.1 32

 33 Life insurance companies (FHLB) 1.0 -0.3 -0.0 -0.8 0.1 1.0 -0.4 0.1 0.6 3.7 0.2 33

 Holding company net transactions with subsidiaries:

 34 Liab.: U.S.-chartered depository institutions 113.6 166.8 33.4 76.1 101.2 66.2 110.7 -100.8 70.2 184.6 134.4 34

 35 Property-casualty insurance companies 0.0 0.0 0.0 0.0 4.3 -7.7 -22.9 -0.0 -7.1 -0.7 -0.5 35

 36 Life insurance companies -12.5 9.3 22.2 9.3 10.3 3.4 0.9 -0.6 21.2 -8.1 0.9 36

 37 Finance companies -7.3 -23.3 -39.5 -20.3 -3.5 -15.8 -65.6 4.1 0.7 -2.3 9.9 37

 38 Brokers and dealers 98.2 -173.1 -24.3 -13.0 52.3 62.3 -24.6 72.3 -157.1 358.7 16.8 38

 39 Rest of the world -9.1 23.5 10.6 30.6 -51.5 -29.0 89.8 -146.0 106.5 -166.4 40.4 39

 40 Asset: Holding companies 183.0 3.1 2.4 82.7 113.1 79.4 88.2 -171.0 34.4 365.8 201.9 40

 NFC investment in finance company subsidiaries:

 41 Liab.: Finance companies -1.1 -9.3 26.7 8.4 2.6 14.7 56.1 4.7 0.8 -2.6 11.3 41

 42 Asset: Nonfinancial corporate business -1.1 -9.3 26.7 8.4 2.6 14.7 56.1 4.7 0.8 -2.6 11.3 42

 Funding corporations’ investment in subsidiaries:

 43 Liab.: Foreign banking offices in U.S. 35.6 -73.5 -31.5 -33.7 -11.8 -2.5 67.7 -3.4 -93.6 19.2 1.5 43

 44 Brokers and dealers 6.4 6.3 -26.9 53.4 19.0 15.5 60.6 -21.8 38.4 -15.3 37.6 44

 45 Asset: Funding corporations 42.1 -67.2 -58.4 19.6 7.2 13.0 128.3 -25.2 -55.2 4.0 39.0 45

 Equity investment under Public-Private Inv. Program:

 46 Liab.: Funding corporations 0.0 2.4 7.9 1.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Asset: Households (2) 0.0 1.2 4.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 Federal government 0.0 1.2 4.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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F.231 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 529.8 -543.3 -10.1 99.7 -91.0 -8.9 -3.8 -25.3 -4.5 -1.9 0.6 1

 2 Asset: Federal government 0.0 0.2 0.1 -0.1 -0.1 -0.3 -0.5 0.2 0.1 -1.0 0.1 2

 3 Monetary authority (1) 529.7 -543.5 -10.2 99.7 -90.9 -8.6 -3.3 -25.5 -4.7 -1.0 0.5 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises -5.4 0.4 -1.5 -1.8 1.2 -3.2 -1.4 -5.6 -6.1 0.4 -0.5 6

 7 Asset: U.S.-chartered depository institutions -5.4 0.4 -1.5 -1.8 1.2 -3.2 -1.4 -5.6 -6.1 0.4 -0.5 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 3.2 -4.9 2.7 -0.4 0.6 3.0 4.1 7.4 -3.7 4.2 6.7 8

 9 Asset: Life insurance companies 3.2 -4.9 2.7 -0.4 0.6 3.0 4.1 7.4 -3.7 4.2 6.7 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 17.6 8.4 17.1 14.8 -1.8 0.4 -5.8 -1.2 14.4 -5.7 4.0 10

 11 Accident and health 19.5 9.7 17.0 15.6 -2.4 0.2 -8.2 0.2 12.9 -4.1 5.1 11

 12 Policy dividend accumulation -3.4 -1.1 0.4 -1.8 0.4 0.2 1.2 -1.5 0.2 1.1 -2.0 12

 13 Contract claims 1.5 -0.1 -0.4 0.9 0.3 -0.0 1.2 0.1 1.4 -2.7 0.9 13

 14 Asset: Household sector 17.6 8.4 17.1 14.8 -1.8 0.4 -5.8 -1.2 14.4 -5.7 4.0 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 25.4 -5.0 6.3 35.2 5.8 5.7 -9.2 23.8 8.8 -0.6 14.9 15

 16 Asset: Household sector 11.0 8.7 -35.2 36.7 -16.7 11.4 4.6 19.6 12.7 8.6 14.4 16

 17 Nonfinancial corporate business 11.0 -4.0 11.9 10.0 7.4 -0.0 -6.2 7.3 1.3 -2.6 3.0 17

 18 Nonfinancial noncorporate business 3.4 -9.8 29.7 -11.6 15.1 -5.6 -7.6 -3.1 -5.1 -6.5 -2.5 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies -13.9 80.0 -7.1 17.7 6.0 7.6 6.5 5.9 11.1 6.9 24.7 19

 20 Asset: Private pension funds -13.9 80.0 -7.1 17.7 6.0 7.6 6.5 5.9 11.1 6.9 24.7 20

 Pension fund contributions payable:

 21 Liab.: Nonfinancial corporate business 14.7 -8.4 15.4 3.0 -0.9 -1.0 0.8 0.4 -1.1 -3.9 -0.8 21

 22 Asset: Private pension funds 14.7 -8.4 15.4 3.0 -0.9 -1.0 0.8 0.4 -1.1 -3.9 -0.8 22

 Securities borrowed (net):

 23 Liab.: Funding corporations -353.2 -30.2 -123.5 -74.6 -79.2 94.0 236.2 298.3 -43.6 -114.8 -139.1 23

 24 Asset: Brokers and dealers -353.2 -30.2 -123.5 -74.6 -79.2 94.0 236.2 298.3 -43.6 -114.8 -139.1 24

 Nonmarketable government securities:

 25 Liab.: Federal government 63.3 61.9 65.7 70.8 40.4 98.2 229.9 -272.6 -110.3 545.9 142.2 25

 26 Asset: Federal government retirement funds 63.3 61.9 65.7 70.8 40.4 98.2 229.9 -272.6 -110.3 545.9 142.2 26

 Retiree health care funds (2):

 27 Liab.: Federal government 26.5 16.6 22.5 18.5 13.3 12.2 -4.5 -9.5 -1.1 63.8 -2.7 27

 28 Asset: Household sector 26.5 16.6 22.5 18.5 13.3 12.2 -4.5 -9.5 -1.1 63.8 -2.7 28

 Claims of pension fund on sponsor (3):

 29 Liab.: Nonfinancial corporate business 123.0 82.7 -14.9 -12.5 50.1 54.9 48.9 36.4 50.2 84.1 32.6 29

 30 State and local governments 163.0 303.7 275.4 310.7 295.0 295.5 312.8 224.0 320.6 324.6 321.4 30

 31 Federal government 17.6 15.6 20.2 19.2 48.2 -9.7 -141.3 361.1 605.7 -864.1 -53.6 31

 32 Asset: Private pension funds 123.0 82.7 -14.9 -12.5 50.1 54.9 48.9 36.4 50.2 84.1 32.6 32

 33 State and local govt. retirement funds 163.0 303.7 275.4 310.7 295.0 295.5 312.8 224.0 320.6 324.6 321.4 33

 34 Federal government retirement funds 17.6 15.6 20.2 19.2 48.2 -9.7 -141.3 361.1 605.7 -864.1 -53.6 34

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.

(3) Assets of the household sector.
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F.232 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 457.3 102.8 223.7 357.5 462.1 300.0 571.1 101.2 210.9 316.9 -165.2 1

 2 Nonfinancial corporate business 196.9 -128.9 254.8 644.0 635.2 395.1 316.5 373.3 388.4 502.0 -113.6 2

 3 Nonfinancial noncorporate business 114.3 32.6 -50.9 34.4 17.7 13.4 14.5 7.1 22.8 9.1 -5.3 3

 4 Federal government -0.3 2.9 2.4 13.6 -8.3 1.3 16.1 7.0 -32.0 13.9 -12.8 4

 5 Rest of the world 2.6 -61.7 75.8 -127.8 -226.8 -102.4 -403.5 686.4 -752.6 60.0 -408.3 5

 6 Monetary authority -0.5 1.5 28.3 -27.1 1.5 9.7 61.8 -42.7 -15.4 35.1 79.1 6

 7 U.S.-chartered depository institutions -258.1 191.5 -42.3 -171.0 45.9 65.1 179.5 39.7 -71.4 112.7 37.5 7

 8 Foreign banking offices in U.S. 44.9 -85.1 0.9 43.9 -23.9 -30.6 -4.1 -25.2 -49.4 -43.7 4.3 8

 9 Banks in U.S.-affiliated areas -3.8 4.3 -5.9 -3.9 -2.0 -3.0 -3.6 0.3 -3.1 -5.6 2.1 9

 10 Credit unions 1.1 14.7 -8.3 1.3 0.3 1.5 12.8 -2.5 -9.0 4.7 2.6 10

 11 Life insurance companies -11.0 -42.1 7.4 17.7 19.6 -4.4 19.9 -92.8 38.6 16.6 52.4 11

 12 Government-sponsored enterprises 47.7 61.9 -37.9 -41.4 -5.4 -6.7 -11.8 12.2 -2.3 -25.1 -8.6 12

 13 Finance companies 6.5 -71.5 -58.8 -8.5 -22.5 -24.1 2.0 -13.0 -115.7 30.1 -0.2 13

 14 REITs -2.7 -5.3 4.1 7.1 25.4 -24.1 -27.6 5.1 -56.2 -17.5 28.6 14

 15 Brokers and dealers -276.6 228.6 60.2 -59.8 -79.0 -36.5 236.2 -136.1 174.4 -420.6 -143.1 15

 16 Holding companies -163.8 -25.6 -68.2 -36.8 -66.0 221.9 336.0 -88.0 605.2 34.4 60.9 16

 17 Funding corporations 760.4 -14.6 62.0 71.9 150.1 -175.9 -173.8 -629.5 88.7 10.8 259.5 17

 18 Net change in assets -965.2 88.1 156.0 42.0 27.1 502.6 783.7 1238.1 -574.8 563.5 -244.5 18

 19 Nonfinancial corporate business -619.7 -152.0 176.5 10.0 166.8 195.6 257.2 317.8 -68.5 276.0 427.9 19

 20 Nonfinancial noncorporate business 102.9 -82.7 74.7 18.8 28.9 52.0 16.3 62.8 60.3 68.5 29.9 20

 21 State and local governments -5.3 25.2 -22.4 -0.3 6.5 6.2 12.4 9.7 0.8 2.0 8.1 21

 22 Federal government -29.4 32.3 -9.8 -1.3 -3.5 3.7 3.1 -20.2 15.1 16.7 11.0 22

 23 Rest of the world -168.2 16.1 117.7 21.0 -134.8 -131.7 -322.0 478.2 -781.5 98.6 -694.6 23

 24 Monetary authority 0.5 49.6 18.0 43.1 63.4 40.9 79.9 57.1 2.1 24.5 7.8 24

 25 U.S.-chartered depository institutions 11.4 36.0 -131.4 -81.7 -26.6 2.5 1.1 273.2 -131.6 -132.8 -107.0 25

 26 Foreign banking offices in U.S. 3.1 -4.4 -15.3 15.0 -0.3 13.1 35.8 31.1 -14.0 -0.6 56.3 26

 27 Banks in U.S.-affiliated areas -1.0 -4.5 4.5 0.8 0.2 8.6 1.8 23.9 11.1 -2.6 -12.5 27

 28 Credit unions -0.7 0.6 41.3 -12.8 0.7 -1.1 -8.7 41.4 -44.8 7.9 -23.9 28

 29 Life insurance companies 27.4 -17.8 -10.2 53.9 32.1 24.6 79.8 -91.9 82.5 27.8 92.9 29

 30 Private pension funds 0.4 30.0 14.7 43.5 -2.5 9.3 -20.2 27.8 7.1 22.5 59.5 30

 31 State and local govt. retirement funds -17.7 -10.6 15.7 1.7 -0.5 13.3 13.6 14.2 15.1 10.3 16.7 31

 32 Money market mutual funds -33.9 -8.3 -3.4 -0.8 6.1 2.8 -21.4 15.9 -46.8 63.6 -14.7 32

 33 Mutual funds 3.2 -5.1 -12.0 2.9 -33.1 19.1 44.9 3.4 129.5 -101.4 -0.0 33

 34 Government-sponsored enterprises -42.6 1.2 29.3 -0.1 4.1 13.1 61.3 -0.8 -3.5 -4.8 -54.1 34

 35 Finance companies -19.8 17.4 -110.1 -2.9 -36.9 -0.7 -56.8 -14.6 -110.6 179.3 18.7 35

 36 REITs -0.8 10.2 1.3 8.5 25.8 11.6 21.9 36.4 -54.3 42.2 46.1 36

 37 Brokers and dealers -275.1 72.6 10.6 -31.0 6.5 51.1 306.5 -23.3 -73.2 -5.6 -93.1 37

 38 Holding companies 100.1 82.3 -33.6 -46.2 -75.6 168.7 277.1 -4.0 430.6 -28.7 -19.4 38

 39 Discrepancy 1422.6 14.6 67.7 315.5 435.0 -202.6 -212.6 -1137.0 785.8 -246.6 79.3 39
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F.11 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 All sectors 695.9 84.0 83.3 337.3 442.6 -153.8 -119.4 -751.5 554.5 -298.8 97.7 1

 2 Household sector -341.1 -105.4 -414.4 -576.7 -314.6 -597.6 -1059.6 -563.4 400.7 -1167.9 -364.0 2

 3 Nonfinancial corporate business 977.8 -124.6 286.8 853.2 858.0 593.5 522.6 553.2 746.8 551.1 418.5 3

 4 State and local governments 48.2 69.9 3.1 48.4 -32.4 20.9 -4.6 -4.7 76.9 16.1 23.6 4

 5 Federal government 70.6 -61.9 -54.5 -16.2 -80.2 -114.7 203.2 -515.8 -182.5 36.4 89.1 5

 6 Rest of the world -63.4 150.8 17.3 -91.9 -13.9 40.9 268.2 153.1 119.7 -377.4 -169.3 6

 7 Financial sectors 3.8 155.2 245.0 120.4 25.8 -96.9 -49.2 -374.0 -607.1 642.9 99.8 7

 8 Monetary authority -0.2 -6.0 -10.0 -1.2 -18.6 -2.0 -2.9 -1.5 -1.6 -1.9 -3.7 8

 9 U.S.-chartered depository institutions 29.8 171.6 200.8 111.1 58.2 91.5 133.8 -253.2 -28.7 514.2 256.6 9

 10 Foreign banking officed in U.S. -94.0 175.0 -17.6 2.5 10.6 -73.2 19.9 -30.2 -322.1 39.8 -129.0 10

 11 Banks in U.S.-affiliated areas -0.5 6.2 -0.0 1.0 -0.1 -0.3 0.1 2.3 4.3 -7.8 2.8 11

 12 Credit unions 11.8 10.9 -6.3 -27.2 4.8 9.9 41.4 -0.2 0.4 -1.9 -4.5 12

 13 Property-casualty insurance companies -0.8 -23.2 75.7 7.6 -21.7 -3.2 3.2 -19.7 -24.8 28.7 -52.4 13

 14 Life insurance companies -72.5 -85.3 -32.3 -30.5 -47.8 -23.1 -28.6 -1.5 -1.9 -60.4 -44.7 14

 15 Mutual funds -52.7 -40.7 -24.9 -35.3 -33.2 -11.0 -19.6 -8.3 -8.2 -8.0 -3.7 15

 16 Government-sponsored enterprises 97.5 9.3 43.4 3.1 34.6 -135.6 -144.2 -99.0 -279.4 -19.6 72.0 16

 17 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 17

 18 Finance companies 35.8 12.2 13.2 42.0 61.6 17.0 16.1 6.9 9.6 35.2 -35.6 18

 19 REITs -8.7 -8.5 10.0 21.8 44.8 72.7 -0.2 82.5 53.9 154.5 37.5 19

 20 Brokers and dealers 72.3 -57.2 -6.6 26.9 -65.5 -37.7 -65.8 -50.5 -6.6 -27.9 6.1 20

 21 Holding companies -13.7 -9.1 -0.3 -1.5 -1.7 -1.9 -2.3 -1.4 -1.9 -1.9 -1.4 21

F.12 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 All types 695.9 84.0 83.3 337.3 442.6 -153.8 -119.4 -751.5 554.5 -298.8 97.7 1

 2 Treasury currency -0.8 -4.4 -1.1 -0.7 -0.6 -1.1 -0.9 -0.7 -2.1 -0.6 -1.0 2

 3 Foreign deposits -330.4 -122.5 -26.6 25.2 -29.7 17.4 22.4 286.4 -28.6 -210.8 -19.1 3

 4 Net interbank transactions 44.8 14.5 25.8 3.5 5.7 56.8 294.7 -15.3 -202.1 149.9 73.1 4

 5 Security repurchase agreements -285.8 164.7 65.8 13.5 -18.6 -186.6 -344.2 -97.2 -150.9 -154.1 -44.6 5

 6 Mail floats -5.2 -0.3 -1.1 0.8 1.5 -0.7 -50.0 99.1 5.4 -57.4 -39.9 6

 7 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Federal government -3.3 0.7 0.0 -0.1 0.6 0.4 -44.8 96.6 3.5 -53.6 -43.8 8

 9 Private domestic -2.0 -1.0 -1.1 0.9 0.9 -1.2 -5.3 2.4 1.9 -3.8 3.9 9

 10 Trade credit 21.5 128.0 9.5 -67.4 39.7 11.3 -10.1 -29.4 36.7 48.0 -13.6 10

 11 Taxes payable -67.0 -33.5 -8.8 -2.3 -2.7 25.6 31.0 -38.9 24.0 86.4 32.9 11

 12 Miscellaneous 1422.6 14.6 67.7 315.5 435.0 -202.6 -212.6 -1137.0 785.8 -246.6 79.3 12

 13 Nonfinancial -103.8 -77.2 -48.0 49.2 12.4 126.1 150.3 181.4 86.3 86.4 30.5 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) 99.0 72.2 43.1 -53.6 -17.0 -131.4 -155.6 -186.8 -91.7 -91.8 -36.0 14

 15 Contr. for govt. soc. insur., U.S. affiliated areas 4.8 5.0 4.9 4.4 4.6 5.3 5.3 5.3 5.3 5.4 5.5 15
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L.100 Households and Nonprofit Organizations (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 46662.4 49359.3 53806.9 54992.2 59434.1 66497.9 61547.3 62418.7 64286.4 66497.9 67219.0 1

 2 Deposits 8172.0 8090.0 8059.4 8736.8 9241.5 9572.3 9260.6 9246.4 9359.1 9572.3 9783.0 2

 3 Foreign deposits 56.9 50.2 49.7 46.9 45.1 48.4 46.5 51.3 51.0 48.4 43.6 3

 4 Checkable deposits and currency 294.9 396.0 423.6 752.0 897.8 1004.7 919.7 898.1 884.8 1004.7 1096.7 4

 5 Time and savings deposits 6239.3 6330.8 6455.9 6827.7 7191.2 7388.7 7238.7 7248.8 7333.4 7388.7 7551.6 5

 6 Money market fund shares 1580.9 1313.0 1130.2 1110.2 1107.4 1130.4 1055.7 1048.3 1089.9 1130.4 1091.1 6

 7 Credit market instruments 5156.0 5619.9 5834.0 5425.5 5422.2 5446.0 5339.7 5354.2 5328.7 5446.0 5262.8 7

 8 Open market paper 6.0 22.7 21.1 19.4 18.8 15.0 18.0 17.8 17.6 15.0 14.3 8

 9 Treasury securities 188.7 859.7 1134.4 715.6 941.0 935.4 966.2 1009.0 980.8 935.4 841.2 9

 10 Agency- and GSE-backed securities 1057.7 358.3 353.7 304.6 154.2 125.9 112.9 124.6 109.7 125.9 14.1 10

 11 Municipal securities 1720.9 1828.1 1871.8 1808.3 1665.8 1626.3 1676.1 1670.0 1644.9 1626.3 1603.7 11

 12 Corporate and foreign bonds 1946.5 2324.6 2248.3 2379.0 2468.8 2578.0 2394.8 2363.5 2409.4 2578.0 2626.2 12

 13 Other loans and advances (2) 29.7 26.8 26.2 23.4 20.9 25.9 22.7 24.0 24.5 25.9 27.2 13

 14 Mortgages 111.8 110.9 100.1 100.8 86.9 80.4 85.3 83.4 81.8 80.4 78.4 14

 15 Consumer credit (student loans) 94.6 88.8 78.4 74.5 65.6 59.1 63.8 61.9 60.0 59.1 57.8 15

 16 Corporate equities (3) 5931.0 7496.1 8995.3 9025.4 10412.8 13309.6 11456.2 11686.6 12472.2 13309.6 13502.0 16

 17 Mutual fund shares 3306.7 4115.8 4600.2 4502.9 5408.7 6890.1 5898.3 6095.7 6501.9 6890.1 7058.9 17

 18 Security credit 737.4 701.7 725.2 726.1 757.0 815.5 743.6 794.0 791.5 815.5 818.7 18

 19 Life insurance reserves 1049.8 1109.2 1137.2 1203.6 1186.1 1242.2 1194.8 1203.0 1227.7 1242.2 1256.7 19

 20 Pension entitlements (4) 14071.9 15209.5 16751.6 17126.1 18093.8 19563.8 18572.2 18766.0 19115.6 19563.8 19766.4 20

 21 Claims of pension fund on sponsor 3468.2 3210.8 3508.2 3861.0 3867.3 3295.8 3645.8 3745.9 3765.7 3295.8 3353.2 21

 22 Funded pension entitlements 10603.7 11998.7 13243.4 13265.1 14226.4 16268.0 14926.4 15020.1 15349.9 16268.0 16413.2 22

 23 Equity in noncorporate business 7471.3 6216.2 6895.6 7366.9 8038.4 8760.8 8209.8 8398.4 8608.8 8760.8 8868.9 23

 24 Miscellaneous assets 766.3 800.9 808.2 878.8 873.6 897.6 872.2 874.4 880.9 897.6 901.5 24

 25 Total liabilities 14278.2 14049.5 13766.5 13566.0 13626.8 13768.2 13575.6 13597.7 13711.5 13768.2 13784.8 25

 26 Credit market instruments 13849.6 13546.3 13214.8 13052.9 13044.2 13146.1 12987.6 13012.9 13116.2 13146.1 13147.5 26

 27 Home mortgages (5) 10579.0 10417.6 9912.7 9697.5 9481.7 9386.2 9432.0 9407.9 9416.1 9386.2 9349.1 27

 28 Consumer credit 2650.6 2552.8 2647.4 2755.9 2923.6 3097.4 2923.8 2966.4 3036.6 3097.4 3103.6 28

 29 Municipal securities 259.5 265.4 263.2 255.5 241.0 227.8 239.4 235.7 232.4 227.8 227.6 29

 30 Depository institution loans n.e.c. (6) 26.4 -15.9 61.0 11.5 62.6 92.7 56.3 64.6 92.3 92.7 124.4 30

 31 Other loans and advances 133.2 133.7 136.1 138.1 139.3 141.3 139.4 140.7 140.9 141.3 141.3 31

 32 Commercial mortgages 200.9 192.6 194.3 194.3 195.9 200.8 196.7 197.5 197.9 200.8 201.6 32

 33 Security credit 164.8 203.0 278.2 238.9 303.7 339.2 307.9 302.6 313.7 339.2 351.7 33

 34 Trade payables 236.7 278.2 248.8 250.0 254.0 255.0 254.3 254.5 254.8 255.0 256.0 34

 35 Deferred and unpaid life insurance premiums 27.0 22.1 24.7 24.3 24.9 27.9 25.9 27.8 26.8 27.9 29.6 35

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

 outstandings of nonprofit organizations.

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

(3) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 17), life insurance reserves (line 19) and pension entitlements (line 20).

(4) Includes public and private defined benefit and defined contribution pension plans and annuities, including those in IRAs, at life insurance companies. Excludes social security.

(5) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 24.

(6) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.108, line 19.
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L.101 Nonfinancial Business (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 16630.0 16909.9 17761.5 18267.6 19093.3 20228.0 19332.5 19606.4 19873.5 20228.0 20342.9 1

 2 Foreign deposits 24.7 31.5 40.6 34.8 35.8 80.6 47.6 61.7 64.9 80.6 64.5 2

 3 Checkable deposits and currency 603.6 689.3 766.1 793.5 823.2 927.4 842.6 822.7 869.6 927.4 861.4 3

 4 Time and savings deposits 670.0 842.1 905.0 922.1 964.0 1031.6 973.8 991.7 1030.7 1031.6 1044.7 4

 5 Money market fund shares 802.4 729.2 574.7 540.0 559.3 601.9 554.9 552.6 584.1 601.9 578.1 5

 6 Security repurchase agreements 7.2 7.9 12.1 12.6 9.7 8.8 9.3 8.7 12.5 8.8 10.6 6

 7 Credit market instruments 308.8 312.2 325.2 319.1 310.5 260.6 276.9 278.5 271.7 260.6 261.6 7

 8 Commercial paper 57.3 56.0 68.0 67.9 59.8 30.3 56.2 50.2 42.0 30.3 32.9 8

 9 Treasury securities 82.3 89.1 96.1 91.6 88.8 90.8 82.4 87.9 88.6 90.8 88.7 9

 10 Agency- and GSE-backed securities 10.2 14.3 16.0 14.3 13.2 8.4 6.0 7.7 7.8 8.4 7.7 10

 11 Municipal securities 31.1 32.2 29.6 28.0 29.8 17.5 20.2 20.4 20.6 17.5 20.0 11

 12 Mortgages 72.8 67.5 70.1 70.0 69.7 70.0 69.6 69.7 69.8 70.0 69.9 12

 13 Consumer credit 55.2 53.2 45.5 47.4 49.2 43.5 42.4 42.6 42.8 43.5 42.4 13

 14 Mutual fund shares 106.3 162.0 186.8 165.9 180.1 211.4 189.3 191.0 199.8 211.4 212.2 14

 15 Trade receivables 2608.3 2550.8 2689.9 2779.5 2870.7 3020.9 2983.6 3072.0 3100.2 3020.9 3101.2 15

 16 Miscellaneous assets 11498.7 11584.8 12261.1 12700.2 13340.0 14084.7 13454.5 13627.5 13739.9 14084.7 14208.4 16

 17 Total liabilities 19019.5 18634.6 18902.3 19633.2 20767.2 21791.2 20951.3 21198.7 21515.8 21791.2 21942.1 17

 18 Credit market instruments 11660.5 11317.0 11404.8 11943.0 12734.0 13604.4 12879.3 13137.3 13394.2 13604.4 13857.0 18

 19 Commercial paper 131.5 58.4 82.9 116.3 130.3 144.5 140.1 147.2 171.2 144.5 180.2 19

 20 Municipal securities 415.0 452.2 485.4 493.9 509.1 518.5 510.4 515.0 516.4 518.5 517.7 20

 21 Corporate bonds 3954.5 4366.2 4804.8 5215.6 5795.2 6435.5 5940.0 6082.7 6269.0 6435.5 6601.0 21

 22 Depository institution loans n.e.c. 1826.1 1490.1 1404.6 1530.2 1680.1 1776.1 1680.9 1715.3 1732.9 1776.1 1787.1 22

 23 Other loans and advances 1561.4 1311.1 1118.9 1179.7 1217.4 1232.9 1217.2 1256.9 1247.6 1232.9 1258.3 23

 24 Mortgages 3772.0 3639.1 3508.2 3407.3 3401.8 3496.9 3390.7 3420.1 3457.1 3496.9 3512.7 24

 25 Trade payables 2053.4 1987.6 2174.2 2207.3 2289.4 2415.1 2320.4 2360.4 2392.9 2415.1 2439.9 25

 26 Taxes payable 145.1 135.6 142.0 152.0 156.3 150.0 163.6 151.8 154.8 150.0 151.6 26

 27 Miscellaneous liabilities 5160.5 5194.3 5181.2 5331.0 5587.5 5621.7 5588.1 5549.1 5573.9 5621.7 5493.5 27

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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L.102 Nonfinancial Corporate Business

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 12936.9 13333.8 14033.7 14523.2 15275.1 16325.9 15510.1 15757.1 15999.1 16325.9 16427.9 1

 2 Foreign deposits 24.7 31.5 40.6 34.8 35.8 80.6 47.6 61.7 64.9 80.6 64.5 2

 3 Checkable deposits and currency 84.2 155.0 234.6 264.3 279.4 374.0 298.8 275.6 319.5 374.0 306.7 3

 4 Time and savings deposits 311.9 488.8 548.7 561.9 598.8 657.3 607.9 623.0 659.3 657.3 668.9 4

 5 Money market fund shares 727.0 655.5 497.8 462.4 480.6 521.1 476.0 473.1 504.0 521.1 497.1 5

 6 Security repurchase agreements 7.2 7.9 12.1 12.6 9.7 8.8 9.3 8.7 12.5 8.8 10.6 6

 7 Credit market instruments 213.0 223.1 229.4 222.3 212.3 160.0 178.6 179.5 171.8 160.0 160.6 7

 8 Commercial paper 57.3 56.0 68.0 67.9 59.8 30.3 56.2 50.2 42.0 30.3 32.9 8

 9 Treasury securities 30.5 43.0 48.0 43.0 39.5 40.3 33.1 38.2 38.5 40.3 38.0 9

 10 Agency- and GSE-backed securities 10.2 14.3 16.0 14.3 13.2 8.4 6.0 7.7 7.8 8.4 7.7 10

 11 Municipal securities 26.2 27.1 23.9 22.3 24.0 11.6 14.5 14.5 14.7 11.6 14.0 11

 12 Mortgages 33.6 29.5 28.0 27.4 26.6 25.8 26.4 26.2 26.0 25.8 25.6 12

 13 Consumer credit 55.2 53.2 45.5 47.4 49.2 43.5 42.4 42.6 42.8 43.5 42.4 13

 14 Mutual fund shares 106.3 162.0 186.8 165.9 180.1 211.4 189.3 191.0 199.8 211.4 212.2 14

 15 Trade receivables 2085.7 2054.5 2156.5 2240.3 2324.0 2460.5 2435.9 2520.0 2544.2 2460.5 2538.6 15

 16 Miscellaneous assets 9376.9 9555.5 10127.0 10558.6 11154.4 11852.1 11266.8 11424.6 11522.9 11852.1 11968.7 16

 17 U.S. direct investment abroad (1) 3011.1 3245.1 3402.9 3795.6 4136.4 4421.6 4170.2 4234.4 4333.4 4421.6 4516.1 17

 18 Insurance receivables 311.1 307.1 319.0 329.0 336.5 336.4 334.9 336.8 337.1 336.4 337.2 18

 19 Equity in GSEs 0.4 0.5 0.6 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.7 19

 20 Investment in finance company subs. 80.5 71.2 60.7 69.1 71.7 86.4 85.7 86.9 87.1 86.4 89.2 20

 21 Other 5973.8 5931.6 6343.8 6364.4 6609.2 7007.1 6675.3 6766.0 6764.8 7007.1 7025.4 21

 22 Total liabilities 13225.1 12904.6 13227.9 13879.6 14907.8 15781.2 15085.2 15284.8 15554.2 15781.2 15902.2 22

 23 Credit market instruments 7567.2 7332.5 7455.0 7958.0 8662.4 9407.1 8808.8 9024.0 9242.0 9407.1 9630.5 23

 24 Commercial paper 131.5 58.4 82.9 116.3 130.3 144.5 140.1 147.2 171.2 144.5 180.2 24

 25 Municipal securities (2) 415.0 452.2 485.4 493.9 509.1 518.5 510.4 515.0 516.4 518.5 517.7 25

 26 Corporate bonds (1) 3954.5 4366.2 4804.8 5215.6 5795.2 6435.5 5940.0 6082.7 6269.0 6435.5 6601.0 26

 27 Depository institution loans n.e.c. 780.1 546.0 477.4 546.3 608.1 654.2 604.2 621.0 627.0 654.2 653.8 27

 28 Other loans and advances (3) 1384.0 1139.1 948.3 1008.5 1036.9 1047.2 1037.1 1076.3 1066.1 1047.2 1071.6 28

 29 Mortgages 902.2 770.6 656.2 577.4 582.7 607.2 577.0 581.8 592.4 607.2 606.2 29

 30 Trade payables 1672.7 1590.2 1746.5 1771.7 1854.9 1973.0 1882.0 1919.9 1950.4 1973.0 1996.4 30

 31 Taxes payable 39.0 35.7 42.9 51.7 54.0 43.9 60.9 48.1 50.0 43.9 45.0 31

 32 Miscellaneous liabilities 3946.2 3946.2 3983.5 4098.3 4336.6 4357.2 4333.5 4292.8 4311.8 4357.2 4230.3 32

 33 Foreign direct investment in U.S. 2050.3 1986.4 2128.7 2313.3 2474.4 2604.4 2485.8 2507.4 2531.6 2604.4 2668.0 33

 34 Pension fund contributions payable 84.0 75.6 91.1 94.0 93.2 92.2 93.4 93.5 93.2 92.2 92.0 34

 35 Claims of pension fund on sponsor 677.4 497.6 446.5 486.6 440.2 187.7 349.7 335.6 265.7 187.7 165.8 35

 36 Other 1134.5 1386.6 1317.2 1204.3 1328.9 1473.0 1404.6 1356.3 1421.4 1473.0 1304.6 36

 Memo:

 37 Trade receivables net of payables 412.9 464.3 410.0 468.6 469.0 487.5 553.9 600.1 593.8 487.5 542.2 37

 38 Market value of equities 10016.6 12512.2 14371.6 14501.0 16132.4 20952.4 17855.2 18178.3 19367.6 20952.4 21222.4 38

 39 Securities and mortgages 5271.7 5588.9 5946.4 6286.9 6887.0 7561.2 7027.4 7179.5 7377.8 7561.2 7724.9 39

 40 Loans and short-term paper 2295.6 1743.6 1508.6 1671.1 1775.3 1845.9 1781.4 1844.5 1864.2 1845.9 1905.6 40

 41 Total short-term liabilities (4) 4007.3 3369.5 3298.0 3494.4 3684.2 3862.8 3724.3 3812.5 3864.6 3862.8 3947.0 41

 42 Total liquid assets (5) 1385.4 1641.1 1676.7 1649.4 1721.0 1944.0 1738.6 1743.7 1863.2 1944.0 1852.7 42

 Analytical measures (percent)

 43 Long-term debt/credit market debt 69.7 76.2 79.8 79.0 79.5 80.4 79.8 79.6 79.8 80.4 80.2 43

 44 Short-term debt/credit market debt 30.3 23.8 20.2 21.0 20.5 19.6 20.2 20.4 20.2 19.6 19.8 44

 45 Liquid assets/short-term liabilities 34.6 48.7 50.8 47.2 46.7 50.3 46.7 45.7 48.2 50.3 46.9 45

(1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

(2) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

(3) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table L.216.

(4) Sum of lines 24, 27, 28, 30, and 31. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(5) Sum of lines 2 through 6, lines 8 through 11, and line 14.
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L.103 Nonfinancial Noncorporate Business

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3693.1 3576.1 3727.8 3744.5 3818.3 3902.1 3822.4 3849.3 3874.4 3902.1 3915.0 1

 2 Checkable deposits and currency 519.4 534.3 531.5 529.1 543.8 553.4 543.9 547.1 550.1 553.4 554.8 2

 3 Time and savings deposits 358.1 353.3 356.2 360.1 365.2 374.3 365.8 368.7 371.4 374.3 375.8 3

 4 Money market fund shares 75.4 73.7 76.8 77.7 78.8 80.7 78.9 79.5 80.1 80.7 81.0 4

 5 Credit market instruments 95.8 89.1 95.8 96.8 98.2 100.6 98.3 99.1 99.8 100.6 101.0 5

 6 Treasury securities 51.8 46.1 48.1 48.6 49.3 50.5 49.4 49.7 50.1 50.5 50.7 6

 7 Municipal securities 4.9 5.1 5.6 5.7 5.8 5.9 5.8 5.8 5.9 5.9 5.9 7

 8 Mortgages 39.1 37.9 42.1 42.5 43.1 44.2 43.2 43.5 43.9 44.2 44.4 8

 9 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Trade receivables 522.7 496.3 533.4 539.2 546.8 560.4 547.7 552.0 556.0 560.4 562.6 10

 11 Miscellaneous assets 2121.8 2029.3 2134.1 2141.6 2185.6 2232.6 2187.8 2202.9 2217.0 2232.6 2239.7 11

 12 Insurance receivables 111.5 101.7 131.4 119.8 134.9 129.3 133.0 132.2 130.9 129.3 128.6 12

 13 Equity investment in GSEs (1) 6.4 6.3 6.7 7.0 7.2 7.8 7.1 7.4 7.6 7.8 8.0 13

 14 Other 2003.9 1921.3 1996.0 2014.8 2043.6 2095.6 2047.7 2063.4 2078.5 2095.6 2103.1 14

 15 Total liabilities 5794.4 5730.0 5674.4 5753.6 5859.4 6010.0 5866.1 5913.9 5961.6 6010.0 6039.9 15

 16 Credit market instruments 4093.2 3984.5 3949.8 3985.0 4071.6 4197.3 4070.4 4113.3 4152.2 4197.3 4226.5 16

 17 Depository institution loans n.e.c. 1046.1 944.0 927.2 983.9 1072.0 1121.9 1076.7 1094.4 1106.0 1121.9 1133.3 17

 18 Other loans and advances 177.3 172.0 170.6 171.2 180.6 185.7 180.1 180.6 181.5 185.7 186.7 18

 19 Mortgages 2869.9 2868.5 2852.0 2829.9 2819.1 2889.7 2813.7 2838.3 2864.7 2889.7 2906.5 19

 20 Trade payables 380.6 397.4 427.7 435.5 434.4 442.1 438.5 440.5 442.5 442.1 443.5 20

 21 Taxes payable 106.2 99.9 99.2 100.3 102.4 106.1 102.6 103.8 104.9 106.1 106.7 21

 22 Miscellaneous liabilities 1214.3 1248.1 1197.7 1232.7 1250.9 1264.5 1254.5 1256.3 1262.1 1264.5 1263.2 22

(1) Equity in the Farm Credit System.
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L.104 State and Local Governments (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2617.8 2662.0 2750.3 2733.1 2837.1 2894.9 2887.5 2910.4 2883.9 2894.9 2909.4 1

 2 Checkable deposits and currency 79.8 99.0 104.7 121.5 117.8 124.3 115.1 112.4 116.0 124.3 121.0 2

 3 Time and savings deposits 238.3 248.0 241.6 256.8 289.8 302.5 293.9 292.1 299.7 302.5 307.7 3

 4 Money market fund shares 125.7 135.5 149.2 152.6 158.0 162.9 161.7 164.2 163.3 162.9 164.8 4

 5 Security repurchase agreements 129.8 125.5 124.1 120.5 125.2 129.6 128.2 130.4 129.8 129.6 131.2 5

 6 Credit market instruments 1557.7 1520.1 1581.2 1528.4 1558.2 1529.7 1578.2 1590.2 1544.0 1529.7 1527.1 6

 7 Open market paper 127.5 88.4 101.4 90.2 83.0 75.2 82.4 81.1 78.0 75.2 73.6 7

 8 Treasury securities 601.4 584.0 590.8 558.1 597.3 583.0 606.0 613.8 584.0 583.0 579.9 8

 9 Agency- and GSE-backed securities 478.3 488.0 510.5 502.6 492.6 480.1 497.1 497.9 488.2 480.1 479.0 9

 10 Municipal securities 10.4 11.4 12.8 13.1 13.4 13.6 13.6 13.8 13.7 13.6 13.7 10

 11 Corporate and foreign bonds 152.8 156.1 163.5 162.7 166.0 168.7 169.2 171.3 169.7 168.7 170.1 11

 12 Mortgages 187.3 192.2 202.2 201.7 205.8 209.1 209.8 212.3 210.4 209.1 210.9 12

 13 Corporate equities 90.8 111.4 125.7 124.4 138.4 165.0 149.4 152.6 156.9 165.0 167.2 13

 14 Mutual fund shares 36.2 48.3 58.1 58.9 66.1 79.8 71.8 73.4 75.7 79.8 80.9 14

 15 Trade receivables 143.7 139.1 152.2 154.5 160.3 169.1 162.4 165.2 167.5 169.1 170.8 15

 16 Taxes receivable 123.0 117.1 117.8 120.0 121.3 123.8 121.8 122.6 123.4 123.8 128.6 16

 17 Miscellaneous assets 92.9 118.1 95.6 95.4 101.8 108.1 104.9 107.4 107.6 108.1 110.1 17

 18 Total liabilities 4702.0 4714.6 5046.4 5325.9 5364.1 5055.5 5246.9 5253.2 5178.9 5055.5 5100.7 18

 19 Credit market instruments 2855.4 2968.4 3038.0 2985.3 2980.0 2941.1 2994.9 2986.4 2953.1 2941.1 2931.8 19

 20 Municipal securities 2842.7 2954.9 3023.6 2970.0 2964.3 2924.9 2978.9 2970.4 2937.0 2924.9 2915.5 20

 21 Short-term (2) 55.8 63.6 63.0 52.3 56.1 45.3 54.5 39.4 46.0 45.3 43.0 21

 22 Long-term 2786.9 2891.3 2960.6 2917.6 2908.2 2879.6 2924.4 2931.0 2891.0 2879.6 2872.5 22

 23 U.S. government loans 12.7 13.5 14.4 15.3 15.7 16.2 16.0 16.0 16.1 16.2 16.3 23

 24 Trade payables 591.6 630.5 669.0 707.4 746.5 786.1 756.3 766.2 776.1 786.1 796.1 24

 25 Claims of pension fund on sponsor (3) 1255.0 1115.7 1339.4 1633.2 1637.5 1328.2 1495.7 1500.7 1449.7 1328.2 1372.8 25

(1) Data for employee retirement funds are shown in table L.118.

(2) Debt with original maturity of 13 months or less.

(3) Included in miscellaneous liabilities.
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L.105 Federal Government

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1292.4 1387.1 1611.5 1404.0 1505.3 1701.2 1535.2 1608.9 1606.6 1701.2 1727.0 1

 2 U.S. official reserve assets 41.9 94.6 95.4 103.9 102.8 96.4 99.0 98.2 99.2 96.4 95.8 2

 3 Checkable deposits and currency 368.0 193.6 342.1 84.3 92.0 162.9 79.4 135.2 88.5 162.9 142.4 3

 4 Time and savings deposits 1.6 1.9 2.0 1.7 2.0 1.5 1.6 1.8 1.9 1.5 1.5 4

 5 Credit market instruments 397.2 706.3 793.5 812.7 917.6 1043.1 964.7 981.7 1023.4 1043.1 1086.2 5

 6 Agency- and GSE-backed securities 54.4 196.4 149.2 31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.0 0.6 0.9 0.8 0.6 0.6 0.6 0.6 0.6 0.6 0.5 7

 8 Other loans and advances 111.8 177.9 181.4 186.3 188.7 197.2 191.3 193.4 195.3 197.2 198.8 8

 9 Mortgages 95.8 108.4 105.8 109.9 111.5 115.5 113.3 113.2 114.1 115.5 116.0 9

 10 Consumer credit (1) 135.1 223.1 356.2 484.7 616.8 729.8 659.5 674.6 713.5 729.8 770.9 10

 11 Corporate equities (2) 188.7 67.4 49.9 57.8 39.9 35.1 38.6 37.9 35.3 35.1 34.9 11

 12 Trade receivables 64.7 43.6 42.9 47.7 50.3 48.8 48.7 52.0 50.6 48.8 48.8 12

 13 Taxes receivable 119.4 133.9 144.3 152.8 158.6 165.8 160.4 162.2 164.0 165.8 167.6 13

 14 Miscellaneous assets 110.8 145.8 141.4 143.1 142.0 147.7 142.7 139.8 143.6 147.7 149.7 14

 15 Total liabilities 9424.3 11003.5 12802.1 13988.3 15245.9 16123.5 15611.5 15622.9 15820.4 16123.5 16415.3 15

 16 SDR allocations 7.5 55.4 54.4 54.2 54.3 54.4 52.9 53.1 54.2 54.4 54.6 16

 17 SDR certificates 2.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 17

 18 Treasury currency 26.6 26.2 25.9 25.9 25.9 25.6 25.9 25.9 25.6 25.6 25.6 18

 19 Credit market instruments 6361.5 7805.4 9385.6 10453.6 11593.7 12352.8 11930.1 11912.9 11981.9 12352.8 12614.8 19

 20 U.S. savings securities 194.1 191.3 188.0 185.3 182.5 179.2 181.8 181.0 180.0 179.2 178.4 20

 21 Treasury bills 1861.2 1787.9 1768.9 1519.5 1626.5 1590.6 1788.2 1568.1 1527.9 1590.6 1650.2 21

 22 Other Treasury securities 4282.9 5802.7 7404.6 8723.6 9759.9 10558.5 9935.5 10138.9 10248.8 10558.5 10762.2 22

 23 Budget agency securities 23.3 23.5 24.2 25.3 24.9 24.5 24.6 25.0 25.1 24.5 24.0 23

 24 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Trade payables 260.8 204.6 210.9 220.3 235.5 253.8 245.1 253.7 258.2 253.8 262.0 25

 26 Insurance reserves 46.4 47.5 48.4 49.7 50.0 50.3 50.1 50.2 50.1 50.3 50.3 26

 27 Miscellaneous liabilities 2719.3 2859.2 3071.6 3179.4 3281.2 3381.5 3302.1 3321.8 3445.2 3381.5 3402.8 27

 28 Nonmarketable securities held by pension plans (3) 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 1265.5 1178.4 1161.5 1352.3 1339.7 28

 29 Claims of pension fund on sponsor 1535.8 1597.6 1722.2 1741.1 1789.6 1780.0 1800.3 1909.6 2050.3 1780.0 1814.7 29

 30 Other 168.2 184.4 206.5 224.6 237.5 249.2 236.3 233.8 233.4 249.2 248.4 30

(1) Includes loans originated by the Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that

 the government purchased from depository institutions and finance companies.

(2) Corporate equities purchased from financial businesses under the Troubled Asset Relief Program (TARP) and from GSEs at market price.

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.
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L.106 Rest of the World

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 15386.1 16021.0 17676.0 19288.1 20644.3 22570.5 21392.1 21513.6 21958.0 22570.5 22970.8 1

 2 SDR allocations 7.5 55.4 54.4 54.2 54.3 54.4 52.9 53.1 54.2 54.4 54.6 2

 3 Net interbank assets 287.9 86.0 24.2 238.1 102.1 392.2 197.6 481.0 440.6 392.2 440.4 3

 4 U.S. checkable deposits and currency 370.1 361.0 390.5 472.3 540.6 590.0 543.2 551.5 573.9 590.0 618.4 4

 5 U.S. time deposits 366.7 293.5 302.5 349.7 386.8 435.5 385.8 392.3 412.8 435.5 447.2 5

 6 Money market fund shares 69.7 76.9 69.8 79.5 99.7 164.0 102.1 152.9 156.8 164.0 163.8 6

 7 Security repurchase agreements 623.3 561.5 635.8 763.1 765.7 822.0 821.1 791.8 794.4 822.0 870.0 7

 8 Credit market instruments 7523.7 7723.4 8491.8 9029.7 9606.3 9806.8 9735.3 9484.2 9638.2 9806.8 10057.6 8

 9 Open market paper 232.9 191.5 191.0 191.7 195.2 197.2 203.9 200.2 187.3 197.2 199.5 9

 10 Treasury securities 3253.0 3670.6 4458.8 5006.9 5573.8 5803.8 5721.8 5594.4 5654.7 5803.8 5960.1 10

 11 Official 2400.5 2879.6 3364.8 3620.6 4032.2 4056.3 4090.7 4009.2 4017.0 4056.3 4088.9 11

 12 Private 852.5 791.0 1094.1 1386.3 1541.6 1747.5 1631.1 1585.2 1637.7 1747.5 1871.2 12

 13 Agency- and GSE-backed securities 1406.9 1154.9 1084.0 1080.6 1016.4 882.2 957.4 897.3 924.4 882.2 897.5 13

 14 Official 940.5 749.0 661.2 639.2 511.1 470.7 487.0 468.9 488.8 470.7 468.4 14

 15 Private 466.4 405.9 422.8 441.4 505.3 411.5 470.4 428.4 435.6 411.5 429.1 15

 16 Municipal securities 51.0 58.7 71.7 70.3 67.9 69.6 66.5 69.4 71.6 69.6 74.1 16

 17 U.S. corporate bonds (1) 2353.5 2465.3 2524.0 2484.0 2609.2 2718.9 2644.1 2570.5 2661.1 2718.9 2781.2 17

 18 Loans to U.S. corporate business 226.4 182.5 162.3 196.1 143.9 135.2 141.6 152.4 139.1 135.2 145.3 18

 19 U.S. corporate equities 1807.1 2476.7 2962.2 3035.3 3467.6 4670.4 3903.2 4008.2 4276.3 4670.4 4840.1 19

 20 Mutual fund shares 255.6 364.1 513.8 735.6 987.1 1036.0 1010.1 965.9 990.2 1036.0 1034.3 20

 21 Trade receivables 90.1 96.7 116.4 134.2 145.6 155.4 150.0 155.2 158.8 155.4 166.4 21

 22 Miscellaneous assets 3984.4 3925.9 4114.7 4396.5 4488.5 4443.8 4490.9 4477.5 4461.9 4443.8 4278.0 22

 23 Foreign direct investment in U.S. (2) 2397.4 2398.2 2623.6 2879.5 3057.3 3178.7 3074.6 3101.3 3130.5 3178.7 3249.0 23

 24 Other 1587.0 1527.7 1491.1 1517.0 1431.1 1265.1 1416.3 1376.2 1331.3 1265.1 1029.0 24

 25 Total liabilities 8990.8 9340.1 10047.8 10562.6 10887.3 11080.0 11036.3 11042.3 11220.5 11080.0 11045.1 25

 26 U.S. official reserve assets (3) 66.6 119.7 121.4 129.6 127.5 119.9 122.5 121.4 123.1 119.9 119.6 26

 27 U.S. private deposits 946.7 835.9 826.6 780.3 750.1 805.9 774.3 853.1 848.1 805.9 766.0 27

 28 Security repurchase agreements 508.4 530.5 731.8 808.0 847.7 738.9 830.1 790.1 802.4 738.9 793.3 28

 29 Credit market instruments 1753.2 2131.1 2314.0 2513.8 2784.1 2923.2 2860.6 2790.1 2832.1 2923.2 3003.3 29

 30 Commercial paper 342.0 401.3 398.6 345.1 373.0 407.0 407.4 417.4 405.9 407.0 413.8 30

 31 Bonds 1237.3 1570.3 1731.3 1939.9 2140.7 2204.1 2174.6 2087.0 2129.4 2204.1 2263.7 31

 32 Depository institution loans n.e.c. 152.4 137.5 162.0 205.2 237.7 276.7 246.0 252.2 262.5 276.7 290.4 32

 33 Official 4.6 4.5 6.6 5.4 6.2 7.1 6.1 6.1 6.6 7.1 6.4 33

 34 Banks 42.6 37.4 53.0 69.8 70.4 90.5 76.2 80.5 86.8 90.5 92.0 34

 35 Other 105.2 95.6 102.4 130.0 161.0 179.1 163.6 165.7 169.1 179.1 192.0 35

 36 Other loans and advances 21.6 21.9 22.1 23.5 32.8 35.5 32.7 33.6 34.4 35.5 35.5 36

 37 Trade payables 63.2 69.3 95.1 63.0 69.3 60.7 69.2 70.9 71.8 60.7 49.2 37

 38 Miscellaneous liabilities 5652.7 5653.5 5958.8 6268.0 6308.5 6431.3 6379.6 6416.6 6543.0 6431.3 6313.7 38

 39 U.S. equity in IBRD, etc. 48.3 50.0 52.3 54.9 57.3 59.5 57.3 59.4 59.4 59.5 58.8 39

 40 Nonofficial foreign currencies 554.2 10.9 0.8 100.5 9.5 0.6 8.6 2.3 1.1 0.6 0.8 40

 41 U.S. direct investment abroad (1,2) 3748.5 4077.4 4273.6 4663.1 5077.8 5366.0 5123.8 5194.6 5309.6 5366.0 5463.8 41

 42 Investment by holding companies 101.5 125.1 135.6 166.3 114.7 85.7 137.2 100.7 127.3 85.7 95.8 42

 43 Other 1200.1 1390.2 1496.5 1283.2 1049.2 919.4 1052.7 1059.6 1045.6 919.4 694.6 43

 Memo:

 44 Market value of foreign equities 2748.4 3995.3 4900.2 4501.4 5390.5 6511.5 5648.7 5632.1 6157.5 6511.5 6653.9 44

 held by U.S. residents (4)

(1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.

(2) Direct investment is valued on a current-cost basis.

(3) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).
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L.107 Financial Business (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 67402.7 68450.7 69528.1 71143.3 75377.9 81269.4 77221.6 78009.4 79711.2 81269.4 82057.2 1

 2 U.S. official reserve assets 35.7 36.2 37.0 36.8 35.8 34.6 34.5 34.3 35.0 34.6 34.8 2

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

 4 Treasury currency 38.7 42.7 43.5 44.2 44.8 45.5 45.0 45.1 45.3 45.5 45.7 4

 5 Foreign deposits 85.6 97.1 105.9 42.9 43.3 33.7 48.7 37.1 36.3 33.7 19.4 5

 6 Net interbank assets 1475.9 1126.4 1019.6 1622.6 1561.7 2321.8 1849.4 2072.9 2294.2 2321.8 2508.7 6

 7 Checkable deposits and currency 378.4 348.2 327.1 364.2 375.4 372.0 368.0 367.4 385.8 372.0 339.4 7

 8 Time and savings deposits 573.0 716.2 641.2 594.2 629.8 713.0 627.8 645.8 711.2 713.0 722.9 8

 9 Money market fund shares 1178.6 1004.0 831.5 760.1 725.2 619.1 677.7 623.9 643.3 619.1 593.7 9

 10 Federal funds and security repos 2813.1 2345.8 2623.8 2741.6 3115.8 2740.2 2954.9 2850.0 2834.0 2740.2 2711.1 10

 11 Credit market instruments 38640.2 37600.7 36786.4 37868.9 39125.3 40828.5 39511.7 39916.3 40233.4 40828.5 41203.2 11

 12 Open market paper 1176.1 779.4 676.0 600.1 595.6 633.9 640.7 641.4 652.0 633.9 672.0 12

 13 Treasury securities 2212.9 2578.5 3081.4 4056.2 4368.0 4915.3 4529.0 4582.8 4648.7 4915.3 5120.9 13

 14 Agency- and GSE-backed securities 5159.1 5894.9 5484.7 5644.1 5878.2 6297.5 6017.4 6133.2 6183.4 6297.5 6322.8 14

 15 Municipal securities 1703.8 1742.2 1786.3 1799.7 1937.6 1944.2 1952.1 1947.5 1935.0 1944.2 1949.4 15

 16 Corporate and foreign bonds 6719.2 6725.5 6881.5 7101.4 7563.1 7890.4 7689.9 7757.9 7837.0 7890.4 7991.3 16

 17 Depository institution loans n.e.c. 2794.4 2035.9 2001.2 2147.8 2322.7 2508.8 2323.8 2388.1 2424.8 2508.8 2561.0 17

 18 Other loans and advances 2261.3 1711.0 1394.8 1363.9 1468.3 1562.5 1459.6 1530.4 1540.1 1562.5 1561.0 18

 19 Mortgages 14247.7 13945.6 13313.2 13006.5 12799.9 12811.0 12741.0 12747.6 12792.1 12811.0 12792.3 19

 20 Consumer credit 2365.6 2187.8 2167.3 2149.4 2192.0 2264.9 2158.0 2187.4 2220.3 2264.9 2232.6 20

 21 Corporate equities 7622.8 9934.0 11434.0 10845.4 12413.3 15770.8 13482.6 13674.8 14571.6 15770.8 15952.8 21

 22 Mutual fund shares 1683.1 2230.5 2514.0 2407.6 2681.6 3327.2 2918.0 2973.5 3137.3 3327.2 3389.3 22

 23 Trade receivables 182.2 144.2 135.6 134.8 133.2 131.0 134.1 132.9 133.0 131.0 136.9 23

 24 Security credit 204.6 235.0 316.4 308.1 374.9 420.8 385.9 378.5 392.2 420.8 438.0 24

 25 Life insurance reserves 130.0 132.8 141.1 148.4 172.9 174.3 175.4 176.8 169.7 174.3 178.0 25

 26 Miscellaneous assets 12358.5 12451.6 12565.7 13218.2 13939.9 13731.8 14002.7 14075.0 14083.6 13731.8 13777.9 26

 27 Total liabilities 64754.2 65362.6 66208.8 67804.3 71502.0 76891.4 73112.8 73897.7 75331.7 76891.4 77594.8 27

 28 Net interbank liabilities 1752.4 1215.5 1068.5 1889.0 1683.8 2790.8 2096.9 2580.5 2767.7 2790.8 2996.2 28

 29 Checkable deposits and currency 2101.3 2093.4 2359.8 2594.3 2853.8 3186.5 2872.9 2892.3 2924.6 3186.5 3185.6 29

 30 Time and savings deposits 8088.8 8432.5 8548.1 8952.2 9463.7 9872.9 9521.6 9572.5 9789.7 9872.9 10075.6 30

 31 Money market fund shares 3757.3 3258.6 2755.4 2642.5 2649.6 2678.3 2552.1 2541.9 2637.4 2678.3 2591.5 31

 32 Federal funds and security repos 3661.8 3251.3 3666.0 3922.0 4172.7 3670.3 4008.0 3846.5 3781.7 3670.3 3707.4 32

 33 Credit market instruments 17103.3 15714.4 14454.9 14035.8 13804.0 13947.1 13754.0 13765.5 13761.9 13947.1 13844.1 33

 34 Open market paper 1126.3 678.2 576.0 507.9 449.1 400.2 453.8 426.0 399.9 400.2 398.2 34

 35 Agency- and GSE-backed securities 8143.4 8083.3 7574.0 7552.1 7529.7 7769.7 7566.2 7635.8 7688.5 7769.7 7697.1 35

 36 Corporate and foreign bonds 5980.2 5735.6 5282.0 4972.3 4871.9 4717.0 4784.0 4694.1 4679.4 4717.0 4704.8 36

 37 Depository institution loans n.e.c. 789.5 424.2 373.6 400.8 342.3 363.2 340.6 355.9 337.1 363.2 359.1 37

 38 Other loans and advances 900.5 617.9 473.2 413.1 416.6 494.9 409.9 453.1 460.0 494.9 480.9 38

 39 Mortgages 163.5 175.3 176.1 189.5 194.4 202.2 199.5 200.7 197.1 202.2 204.1 39

 40 Mutual fund shares 5388.0 6920.7 7873.0 7870.9 9323.6 11544.6 10087.4 10299.5 10904.9 11544.6 11775.7 40

 41 Trade payables 21.2 70.1 18.1 14.3 14.2 14.5 15.4 15.6 13.3 14.5 13.1 41

 42 Security credit 777.2 733.7 763.5 795.4 828.2 897.1 821.6 870.0 870.0 897.1 905.1 42

 43 Life insurance reserves 1133.4 1194.5 1229.9 1302.3 1309.0 1366.3 1320.1 1329.6 1347.3 1366.3 1384.5 43

 44 Pension entitlements 14071.9 15209.5 16751.6 17126.1 18093.8 19563.8 18572.2 18766.0 19115.6 19563.8 19766.4 44

 45 Taxes payable -101.1 -95.0 -88.9 -78.0 -76.8 -59.1 -65.9 -83.0 -73.9 -59.1 -48.4 45

 46 Miscellaneous liabilities 7507.1 7894.0 7540.9 7545.5 8230.0 8157.3 8386.6 8291.0 8293.9 8157.3 8191.3 46

 Memo:

 47 Market value of corporate equities 2875.4 3578.1 4295.4 4085.9 4949.1 6487.0 5526.2 5749.8 5987.3 6487.0 6620.7 47

 48 Equity in noncorporate business 10.7 14.8 15.9 13.1 18.6 19.2 19.2 19.3 17.7 19.2 19.2 48

(1) Sum of financial sectors shown on tables L.108 and L.110 through L.130.
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L.108 Monetary Authority (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2270.6 2267.2 2453.2 2947.2 2954.9 4073.8 3243.8 3526.3 3787.1 4073.8 4290.4 1

 2 U.S. official reserve assets 35.7 36.2 37.0 36.8 35.8 34.6 34.5 34.3 35.0 34.6 34.8 2

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

 4 Treasury currency 38.7 42.7 43.5 44.2 44.8 45.5 45.0 45.1 45.3 45.5 45.7 4

 5 Federal Reserve float (2) -1.5 -2.1 -1.4 -0.6 -0.5 -1.0 -0.6 -0.7 -0.6 -1.0 -0.5 5

 6 Interbank loans (2) 559.7 96.6 0.2 0.2 0.1 0.1 0.0 0.1 0.2 0.1 0.0 6

 7 Discount window (3) 544.0 96.6 0.2 0.2 0.1 0.1 0.0 0.1 0.2 0.1 0.0 7

 8 AMLF (4) 15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Security repurchase agreements 80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Credit market instruments 986.0 1987.7 2259.2 2635.6 2670.1 3756.3 2939.8 3214.2 3475.1 3756.3 3970.1 10

 11 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Treasury securities 475.9 776.6 1021.5 1663.4 1666.1 2208.8 1796.0 1936.6 2072.3 2208.8 2319.6 12

 13 Treasury bills 18.4 18.4 18.4 18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Other Treasury securities 457.5 758.2 1003.1 1645.0 1666.1 2208.8 1796.0 1936.6 2072.3 2208.8 2319.6 14

 15 Agency- and GSE-backed securities 19.7 1068.3 1139.6 941.7 1003.4 1547.4 1143.4 1277.3 1402.7 1547.4 1650.5 15

 16 Mortgage-backed securities 0.0 908.4 992.1 837.7 926.7 1490.2 1070.9 1208.1 1342.1 1490.2 1603.1 16

 17 Other agency- and GSE-backed securities 19.7 159.9 147.5 104.0 76.8 57.2 72.4 69.2 60.7 57.2 47.3 17

 18 Depository institution loans n.e.c. 490.4 142.8 98.1 30.5 0.6 0.1 0.4 0.3 0.1 0.1 0.1 18

 19 Households (TALF) (5) 0.0 47.5 24.7 9.0 0.6 0.1 0.4 0.3 0.1 0.1 0.1 19

 20 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Brokers and dealers (6) 45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Funding corporations (Maiden Lane) (7) 29.1 29.2 25.8 4.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Funding corporations (AIG) 38.9 22.2 20.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (Maiden Lane II) (8) 19.5 16.0 13.5 6.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (Maiden Lane III)(9) 24.4 18.5 14.1 9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Funding corporations (CPFF) (10) 333.0 9.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Corporate equities (11) 0.0 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Miscellaneous assets 569.8 75.9 83.1 225.8 199.5 233.1 219.9 228.1 226.8 233.1 235.0 28

 29 Nonofficial foreign currencies (12) 553.7 10.3 0.1 99.8 8.9 0.3 8.1 1.7 0.5 0.3 0.4 29

 30 Other 16.1 65.6 83.0 126.0 190.6 232.8 211.9 226.5 226.3 232.8 234.6 30

 31 Total liabilities 2249.6 2241.6 2426.7 2920.3 2927.6 4046.3 3216.3 3498.8 3759.6 4046.3 4262.3 31

 32 Depository institution reserves 860.0 977.0 968.1 1562.3 1491.0 2249.1 1790.4 2013.3 2232.4 2249.1 2444.3 32

 33 Vault cash of depository institutions 57.7 54.9 52.7 60.8 71.1 73.6 59.6 60.2 62.2 73.6 64.9 33

 34 Checkable deposits and currency 1220.3 1102.7 1287.8 1165.7 1224.6 1364.1 1226.1 1298.1 1266.5 1364.1 1364.3 34

 35 Due to federal government 365.7 191.9 340.9 85.9 92.9 162.6 79.4 135.0 88.6 162.6 142.5 35

 36 Treasury cash holdings 0.3 0.2 0.2 0.1 0.2 0.2 0.2 0.1 0.2 0.2 0.3 36

 37 Treasury general deposit account 106.1 186.6 140.8 85.7 92.7 162.4 79.2 134.9 88.4 162.4 142.2 37

 38 Treasury temporary supplementary financing account 259.3 5.0 200.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Due to rest of the world 1.4 2.4 3.4 0.2 6.5 8.0 9.2 10.1 9.0 8.0 7.0 39

 40 Due to government-sponsored enterprises 21.1 35.1 13.5 64.6 27.2 25.9 20.2 19.5 24.1 25.9 10.8 40

 41 Currency outside banks 832.2 873.3 930.0 1015.0 1098.1 1167.6 1117.3 1133.6 1144.9 1167.6 1204.0 41

 42 Security repurchase agreements 88.4 77.7 59.7 99.9 107.2 315.9 105.5 95.2 157.4 315.9 341.0 42

 43 Miscellaneous liabilities 23.1 29.2 58.4 31.7 33.7 43.5 34.7 32.1 41.2 43.5 47.8 43

 44 Federal Reserve Bank stock 21.1 25.6 26.5 26.9 27.4 27.5 27.6 27.5 27.4 27.5 28.1 44

 45 Other 2.1 3.6 31.9 4.8 6.3 16.0 7.2 4.6 13.7 16.0 19.8 45

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table L.203.

(3) Federal Reserve loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the AMLF.

(7) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(8) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(9) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(10) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(11) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.
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L.109 Private Depository Institutions (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 14513.5 13618.6 13727.6 14590.7 14994.1 15927.8 15189.8 15492.5 15741.6 15927.8 16236.9 1

 2 Vault cash 57.7 54.9 52.7 60.8 71.1 73.6 59.6 60.2 62.2 73.6 64.9 2

 3 Reserves at Federal Reserve 860.0 977.0 968.1 1562.3 1491.0 2249.1 1790.4 2013.3 2232.4 2249.1 2444.3 3

 4 Federal funds and security repos 643.3 335.2 356.1 378.6 491.6 392.9 438.8 419.3 417.3 392.9 416.1 4

 5 Credit market instruments 11348.8 10749.7 10968.9 11177.8 11605.9 11883.3 11568.5 11636.1 11694.0 11883.3 11987.4 5

 6 Open market paper 15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 101.9 196.6 299.6 252.9 339.5 304.4 329.5 281.5 276.1 304.4 351.4 7

 8 Agency- and GSE-backed securities 1400.3 1579.9 1718.1 1851.7 1901.3 1943.8 1946.9 1964.2 1934.5 1943.8 1962.0 8

 9 Municipal securities 224.4 227.8 257.1 303.9 371.9 427.0 384.2 400.1 415.3 427.0 433.2 9

 10 Corporate and foreign bonds 1087.2 940.0 795.9 800.2 786.3 770.2 765.9 760.1 773.1 770.2 756.7 10

 11 Depository institution loans n.e.c. 2304.0 1893.1 1903.1 2117.3 2322.2 2508.7 2323.5 2387.8 2424.7 2508.7 2560.9 11

 12 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Mortgages 5014.2 4768.9 4583.0 4436.2 4422.4 4392.1 4381.7 4377.8 4377.0 4392.1 4406.8 13

 14 Consumer credit 1201.2 1143.4 1412.0 1415.6 1462.3 1537.1 1436.8 1464.7 1493.3 1537.1 1516.4 14

 15 Corporate equities 20.4 48.6 59.8 54.6 71.3 101.3 80.8 79.9 87.8 101.3 102.6 15

 16 Mutual fund shares 21.6 47.4 46.5 43.5 48.1 60.1 52.6 50.2 54.2 60.1 63.0 16

 17 Security credit 39.8 32.0 38.2 69.2 71.1 81.6 78.1 75.9 78.5 81.6 86.3 17

 18 Life insurance reserves 110.7 111.5 116.0 120.8 138.1 134.4 139.2 140.4 132.2 134.4 135.6 18

 19 Miscellaneous assets 1411.0 1262.2 1121.3 1123.1 1005.8 951.7 981.9 1017.1 983.1 951.7 936.8 19

 20 Total liabilities 14237.5 13779.2 13946.6 14926.1 15529.7 16400.9 15735.9 15960.4 16120.9 16400.9 16708.0 20

 21 Net interbank liabilities 834.6 183.5 47.8 266.0 121.7 468.1 246.9 507.0 473.1 468.1 487.1 21

 22 Checkable deposits 881.0 990.7 1072.0 1428.6 1629.2 1822.3 1646.9 1594.2 1658.1 1822.3 1821.2 22

 23 Small time and savings deposits 5749.3 6326.5 6624.9 7202.2 7803.9 8110.8 7869.1 7890.1 8052.9 8110.8 8265.0 23

 24 Large time deposits 2339.5 2105.9 1923.2 1750.0 1659.9 1762.0 1652.5 1682.4 1736.8 1762.0 1810.6 24

 25 Federal funds and security repos 861.3 727.3 734.0 706.9 674.9 577.9 650.8 635.1 608.0 577.9 623.7 25

 26 Credit market instruments 1030.9 744.6 909.0 856.5 745.4 713.9 696.4 704.4 686.4 713.9 689.8 26

 27 Open market paper 0.5 0.6 113.0 120.6 87.5 59.7 74.4 64.2 57.3 59.7 58.4 27

 28 Corporate bonds 184.8 176.3 377.1 379.4 295.9 221.0 267.4 244.0 225.2 221.0 214.2 28

 29 Other loans and advances 845.6 567.6 418.9 356.4 362.0 433.2 354.5 396.2 403.9 433.2 417.2 29

 30 Taxes payable (net) -73.6 -66.2 -59.6 -49.1 -47.6 -47.4 -45.7 -58.9 -52.9 -47.4 -39.6 30

 31 Miscellaneous liabilities 2614.5 2766.8 2695.3 2764.9 2942.3 2993.3 3019.1 3006.2 2958.5 2993.3 3050.1 31

 32 Foreign direct investment in U.S. 71.7 107.7 120.0 193.7 198.1 202.9 200.0 200.6 202.1 202.9 204.5 32

 33 Investment by holding companies 1370.5 1599.5 1632.8 1709.0 1889.2 1944.2 1916.9 1880.5 1898.1 1944.2 1977.8 33

 34 Investment by funding corporations 276.6 203.1 171.6 137.8 126.0 123.5 142.9 142.1 118.7 123.5 123.9 34

 35 Other 895.6 856.5 770.9 724.5 729.0 722.7 759.3 783.0 739.6 722.7 743.9 35

 Memo:

 36 Consumer leases not included above (2) 9.5 6.9 6.2 6.0 6.5 7.9 6.8 7.3 7.7 7.9 8.1 36

(1) U.S.-chartered depository institutions (L.110), foreign banking offices (L.111), banks in U.S.-affiliated areas (L.112), and credit unions (L.113).

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
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L.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 12202.2 11505.4 11503.7 11849.9 12226.9 12802.7 12297.5 12382.0 12596.7 12802.7 12899.1 1

 2 Vault cash 57.7 54.9 52.7 60.8 71.1 73.6 59.6 60.2 62.2 73.6 64.8 2

 3 Reserves at Federal Reserve 617.0 661.4 575.8 798.7 798.5 1252.9 981.1 1001.2 1222.5 1252.9 1311.3 3

 4 Federal funds and security repos 575.1 266.9 267.6 242.6 303.7 215.7 259.6 238.0 218.0 215.7 215.7 4

 5 Credit market instruments 9459.7 9117.4 9356.2 9489.9 9866.3 10101.0 9833.4 9896.3 9925.3 10101.0 10167.7 5

 6 Open market paper 15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 56.4 124.5 217.5 173.9 243.2 217.1 230.3 194.0 186.6 217.1 263.8 7

 8 Agency- and GSE-backed securities 1242.5 1417.4 1527.2 1634.1 1669.6 1717.3 1710.5 1725.7 1700.4 1717.3 1731.0 8

 9 Residential mortgage pass-through securities 851.0 837.5 835.3 899.1 912.8 953.5 952.8 967.6 947.9 953.5 959.0 9

 10 Commercial mortgage pass-through securities 0.0 3.6 3.3 8.2 21.7 30.3 24.7 28.4 27.9 30.3 32.1 10

 11 Residential CMOs and other structured MBS 193.9 264.0 393.4 473.8 454.6 431.0 446.7 435.2 422.8 431.0 442.2 11

 12 Commercial CMOs and other structured MBS 0.0 4.0 3.6 13.4 42.9 66.8 47.7 54.6 59.6 66.8 70.0 12

 13 Other 197.6 308.4 291.5 239.6 237.7 235.7 238.6 239.8 242.2 235.7 227.7 13

 14 Municipal securities 221.9 224.3 254.6 297.3 365.0 418.9 376.2 392.3 406.4 418.9 425.2 14

 15 Corporate and foreign bonds 652.4 668.2 550.5 553.0 544.0 559.2 540.5 543.2 555.8 559.2 540.2 15

 16 Priv. residential mortgage pass-through securities 29.0 16.2 6.5 3.5 18.7 28.7 19.7 23.1 26.4 28.7 27.8 16

 17 Priv. commercial mortgage pass-through securities 0.0 17.8 11.4 8.9 9.3 8.0 9.1 9.6 8.4 8.0 6.4 17

 18 Priv. residential CMOs and other structured MBS 285.6 202.9 132.3 110.4 88.4 73.7 83.7 78.7 77.2 73.7 68.9 18

 19 Priv. commercial CMOs and other structured MBS 0.0 26.0 24.7 27.4 32.7 37.3 33.8 34.4 35.5 37.3 38.8 19

 20 Other 337.8 405.2 375.6 402.9 394.9 411.4 394.3 397.4 408.3 411.4 398.3 20

 21 Depository institution loans n.e.c. 1690.7 1404.8 1425.9 1589.6 1797.1 1933.5 1794.8 1847.0 1869.5 1933.5 1969.7 21

 22 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Mortgages 4615.2 4371.9 4194.9 4049.6 4028.8 3983.5 3989.8 3982.5 3975.3 3983.5 3991.2 23

 24 Consumer credit 965.0 906.3 1185.5 1192.6 1218.6 1271.6 1191.2 1211.5 1231.4 1271.6 1246.5 24

 25 Corporate equities 20.4 48.6 59.7 54.5 71.3 101.3 80.8 79.9 87.7 101.3 102.6 25

 26 Mutual fund shares 19.6 46.1 45.0 41.7 45.8 57.9 50.1 47.9 52.0 57.9 60.8 26

 27 Security credit 23.7 20.4 23.6 35.8 45.0 52.9 47.9 51.8 53.9 52.9 58.4 27

 28 Life insurance reserves 110.7 111.5 116.0 120.8 138.1 134.4 139.2 140.4 132.2 134.4 135.6 28

 29 Miscellaneous assets 1318.3 1178.2 1007.0 1005.2 887.2 813.0 845.7 866.4 843.0 813.0 782.3 29

 30 Total liabilities 12092.3 11622.9 11709.0 12156.0 12719.7 13301.9 12788.8 12790.2 12995.2 13301.9 13432.4 30

 31 Net interbank liabilities 1130.1 633.7 428.3 164.9 36.7 227.3 96.6 135.4 191.0 227.3 212.4 31

 32 Federal Reserve float -1.5 -2.1 -1.4 -0.6 -0.5 -1.0 -0.6 -0.7 -0.6 -1.0 -0.5 32

 33 Borrowing from Federal Reserve banks 559.7 96.6 0.2 0.2 0.1 0.1 0.0 0.1 0.2 0.1 0.0 33

 34 To domestic banks 34.7 42.2 21.3 62.1 18.7 57.2 23.8 12.4 33.1 57.2 28.6 34

 35 To foreign banks 537.1 496.9 408.2 103.3 18.5 171.0 73.4 123.6 158.3 171.0 184.4 35

 36 Checkable deposits 777.5 871.6 941.1 1260.5 1431.7 1579.8 1436.6 1372.9 1429.1 1579.8 1559.4 36

 37 Federal government 3.5 3.8 3.6 1.0 1.3 1.6 1.5 1.3 1.3 1.6 1.7 37

 38 Rest of the world 62.9 34.3 30.4 56.1 52.0 49.9 46.3 40.5 49.5 49.9 50.0 38

 39 Private domestic 711.1 833.5 907.0 1203.5 1378.4 1528.3 1388.8 1331.0 1378.4 1528.3 1507.7 39

 40 Small time and savings deposits 5144.6 5617.0 5888.6 6425.7 6979.2 7236.0 7018.6 7033.2 7183.1 7236.0 7374.9 40

 41 Large time deposits 1365.6 1029.9 896.1 882.9 803.0 826.9 777.6 804.4 799.3 826.9 815.5 41

 42 Federal funds and security repos 727.2 532.1 484.0 402.5 349.9 265.2 327.3 325.1 301.3 265.2 267.2 42

 43 Credit market instruments 990.3 718.1 882.9 832.4 720.3 686.9 674.1 680.9 659.8 686.9 662.4 43

 44 Open market paper 0.5 0.6 113.0 120.6 87.5 59.7 74.4 64.2 57.3 59.7 58.4 44

 45 Corporate bonds 184.8 176.3 377.1 379.4 295.9 221.0 267.4 244.0 225.2 221.0 214.2 45

 46 Other loans and advances 805.0 541.1 392.8 332.3 336.9 406.2 332.3 372.7 377.3 406.2 389.8 46

 47 Taxes payable (net) -73.6 -66.2 -59.6 -49.1 -47.6 -47.4 -45.7 -58.9 -52.9 -47.4 -39.6 47

 48 Miscellaneous liabilities 2030.5 2286.8 2247.6 2236.1 2446.4 2527.3 2503.7 2497.1 2484.5 2527.3 2580.2 48

 49 Investment by holding companies 1370.5 1599.5 1632.8 1709.0 1889.2 1944.2 1916.9 1880.5 1898.1 1944.2 1977.8 49

 50 Other 660.0 687.3 614.7 527.1 557.2 583.1 586.8 616.6 586.4 583.1 602.4 50

 Memo:

 51 Consumer leases not included above (1) 9.5 6.9 6.2 6.0 6.5 7.9 6.8 7.3 7.7 7.9 8.1 51

(1) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
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L.111 Foreign Banking Offices in U.S. (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1469.2 1218.1 1268.3 1736.4 1720.6 2037.1 1819.4 2027.7 2063.9 2037.1 2215.9 1

 2 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Reserves at Federal Reserve 239.0 284.1 350.8 711.0 638.8 948.0 741.3 959.6 963.5 948.0 1071.0 3

 4 Federal funds and security repos 68.1 68.2 88.4 120.1 178.3 177.1 178.7 181.1 199.3 177.1 200.3 4

 5 Credit market instruments 1097.1 809.7 785.2 827.7 833.5 826.3 816.4 802.2 819.3 826.3 845.5 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 35.5 57.5 60.9 60.5 76.6 67.0 79.5 66.9 69.3 67.0 66.3 7

 8 Agency- and GSE-backed securities 50.6 31.3 26.5 30.6 32.1 25.4 27.7 26.1 26.2 25.4 22.5 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate and foreign bonds 405.4 247.6 238.2 236.7 230.5 196.4 211.9 202.8 203.1 196.4 200.5 10

 11 Depository institution loans n.e.c. 561.5 435.5 424.2 467.1 463.4 507.2 467.5 476.9 490.9 507.2 524.0 11

 12 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Mortgages 44.2 37.8 35.4 32.8 30.9 30.3 29.7 29.6 29.8 30.3 32.2 13

 14 Corporate equities 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Security credit 16.1 11.6 14.7 33.5 26.2 28.7 30.2 24.2 24.7 28.7 28.0 15

 16 Miscellaneous assets 48.9 44.5 29.2 44.2 43.9 57.0 52.9 60.6 57.1 57.0 71.0 16

 17 Total liabilities 1375.7 1319.1 1351.5 1868.1 1869.3 2111.5 1972.8 2185.6 2141.5 2111.5 2257.2 17

 18 Net interbank liabilities -225.6 -377.8 -347.1 157.5 155.6 309.0 219.7 438.6 351.6 309.0 346.3 18

 19 To foreign banks -249.3 -411.0 -384.0 134.8 83.6 221.2 124.2 357.4 282.3 221.2 256.1 19

 20 To domestic banks 23.6 33.1 36.9 22.7 72.0 87.8 95.5 81.2 69.3 87.8 90.2 20

 21 Checkable deposits 13.5 16.1 21.9 45.6 61.8 92.6 63.7 73.4 82.0 92.6 101.5 21

 22 Small time and savings deposits 25.6 29.9 35.7 48.9 62.7 90.4 67.9 70.6 85.9 90.4 84.7 22

 23 Large time deposits 876.2 1024.2 977.7 814.6 798.4 869.5 814.4 816.0 872.4 869.5 927.8 23

 24 Federal funds and security repos 131.7 195.2 250.0 304.4 325.0 312.7 323.6 310.0 306.7 312.7 356.5 24

 25 Open market paper (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous liabilities 554.3 431.5 413.3 497.1 465.8 437.4 483.7 477.0 442.8 437.4 440.5 26

 27 Foreign direct investment in U.S. 71.7 107.7 120.0 193.7 198.1 202.9 200.0 200.6 202.1 202.9 204.5 27

 28 Investment by funding corporations 276.6 203.1 171.6 137.8 126.0 123.5 142.9 142.1 118.7 123.5 123.9 28

 29 Other 206.0 120.7 121.7 165.6 141.7 111.1 140.7 134.4 122.0 111.1 112.1 29

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.
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L.112 Banks in U.S.-Affiliated Areas (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 102.0 94.7 79.9 75.8 75.8 84.7 76.0 82.0 83.9 84.7 81.5 1

 2 Credit market instruments 90.9 88.1 68.9 64.0 63.9 64.1 63.6 63.6 62.7 64.1 64.1 2

 3 Treasury securities 1.2 0.5 1.1 1.0 0.4 1.2 0.4 0.4 0.6 1.2 1.3 3

 4 Agency- and GSE-backed securities 24.4 20.5 12.8 4.8 2.6 1.9 2.4 2.2 1.9 1.9 1.8 4

 5 Municipal securities 2.5 3.5 2.5 3.4 2.6 3.6 2.7 2.7 3.5 3.6 3.4 5

 6 Corporate and foreign bonds 0.5 2.0 0.6 4.2 5.2 5.8 5.6 5.5 5.6 5.8 6.4 6

 7 Depository institution loans n.e.c. 19.7 19.4 16.1 17.1 18.1 19.4 18.1 19.0 19.5 19.4 19.2 7

 8 Home mortgages 22.9 22.6 20.1 17.8 20.0 18.9 20.0 19.2 19.1 18.9 18.4 8

 9 Commercial mortgages 19.7 19.6 15.7 15.6 14.9 13.5 14.4 14.4 12.5 13.5 13.6 9

 10 Miscellaneous assets 11.1 6.5 11.0 11.8 12.0 20.5 12.4 18.4 21.2 20.5 17.4 10

 11 Total liabilities 91.0 90.0 75.2 72.1 72.0 80.5 72.2 78.7 81.7 80.5 78.0 11

 12 Net interbank liabilities -3.2 -4.2 -3.3 -4.6 -4.9 -4.7 -4.6 -5.3 -5.0 -4.7 -5.5 12

 13 Checkable deposits 14.6 16.1 16.6 19.4 21.9 28.2 22.1 26.3 27.7 28.2 27.3 13

 14 Small time and savings deposits 27.4 24.5 19.3 18.9 18.8 21.4 19.1 20.6 21.7 21.4 20.7 14

 15 Large time deposits 27.4 24.5 19.3 18.9 18.8 21.4 19.1 20.6 21.7 21.4 20.7 15

 16 Miscellaneous liabilities 24.9 29.2 23.3 19.4 17.3 14.3 16.4 16.5 15.7 14.3 14.8 16

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

L.113 Credit Unions

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

 1 Total financial assets 740.1 800.5 875.7 928.5 970.8 1003.3 996.9 1000.7 997.2 1003.3 1040.5 1

 2 Reserves at Federal Reserve 4.0 31.5 41.5 52.6 53.8 48.1 68.0 52.5 46.4 48.1 62.0 2

 3 Federal funds and security repos 0.1 0.1 0.0 15.9 9.7 0.1 0.4 0.2 0.1 0.1 0.2 3

 4 Credit market instruments 701.1 734.6 758.6 796.2 842.3 891.8 855.1 874.1 886.7 891.8 910.1 4

 5 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury securities 8.8 14.2 20.1 17.6 19.3 19.1 19.2 20.1 19.6 19.1 20.0 6

 7 Agency- and GSE-backed securities 82.9 110.7 151.5 182.1 197.0 199.2 206.2 210.2 206.0 199.2 206.7 7

 8 Municipal securities 0.0 0.0 0.0 3.2 4.2 4.6 5.3 5.0 5.4 4.6 4.5 8

 9 Corporate and foreign bonds 28.9 22.3 6.6 6.3 6.7 8.9 7.8 8.5 8.6 8.9 9.5 9

 10 Depository institution loans n.e.c. 32.1 33.4 36.9 43.5 43.6 48.7 43.0 44.9 44.9 48.7 48.0 10

 11 Home mortgages 312.2 316.9 317.0 320.5 327.8 345.9 328.0 332.1 340.4 345.9 351.4 11

 12 Consumer credit 236.2 237.1 226.5 223.0 243.6 265.6 245.5 253.1 261.9 265.6 269.9 12

 13 Mutual fund shares 2.0 1.3 1.5 1.9 2.3 2.2 2.6 2.4 2.2 2.2 2.2 13

 14 Miscellaneous assets 32.8 33.0 74.1 61.9 62.7 61.1 70.9 71.7 61.8 61.1 66.1 14

 15 Total liabilities 678.5 747.2 810.9 830.0 868.7 906.9 902.1 905.9 902.4 906.9 940.3 15

 16 Net interbank liabilities -66.6 -68.1 -30.0 -51.9 -65.7 -63.5 -64.7 -61.8 -64.5 -63.5 -66.1 16

 17 Shares/deposits 697.4 769.4 803.8 845.3 896.6 929.2 929.3 928.7 924.9 929.2 964.4 17

 18 Checkable 75.3 86.9 92.4 103.1 113.9 121.7 124.5 121.7 119.3 121.7 133.1 18

 19 Small time and savings 551.7 655.2 681.3 708.7 743.1 763.1 763.4 765.7 762.2 763.1 784.7 19

 20 Large time 70.4 27.3 30.1 33.5 39.7 44.3 41.3 41.4 43.4 44.3 46.6 20

 21 Federal funds and security repos 2.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other loans and advances 40.6 26.5 26.1 24.2 25.1 27.0 22.2 23.5 26.6 27.0 27.4 22

 23 Miscellaneous liabilities 4.7 19.4 11.1 12.4 12.7 14.2 15.3 15.5 15.4 14.2 14.6 23
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L.114 Property-Casualty Insurance Companies

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1305.5 1380.2 1360.5 1376.6 1438.9 1530.7 1461.0 1475.3 1496.4 1530.7 1553.4 1

 2 Checkable deposits and currency 27.9 27.6 32.6 24.1 36.4 29.7 31.7 30.6 30.6 29.7 33.6 2

 3 Money market fund shares 32.8 29.6 25.6 20.0 22.3 20.0 21.3 18.1 18.1 20.0 18.4 3

 4 Security repurchase agreements 4.4 4.5 3.8 1.7 1.8 1.8 1.7 1.5 1.5 1.8 1.6 4

 5 Credit market instruments 853.4 886.7 890.6 926.8 927.8 953.1 933.4 936.7 943.5 953.1 960.1 5

 6 Open market paper 19.1 9.8 7.9 8.8 7.4 8.0 7.4 6.6 6.9 8.0 7.7 6

 7 Treasury securities 65.6 88.5 91.7 96.4 89.7 95.7 90.5 89.5 91.3 95.7 96.2 7

 8 Agency- and GSE-backed securities 114.3 116.2 115.8 122.7 114.3 108.7 113.0 111.6 110.2 108.7 106.4 8

 9 Municipal securities 381.9 369.4 348.4 331.0 328.1 325.8 327.8 327.4 326.8 325.8 326.7 9

 10 Corporate and foreign bonds 267.5 298.3 322.6 363.1 382.7 406.9 388.9 395.1 401.2 406.9 414.8 10

 11 Commercial mortgages 5.0 4.4 4.1 4.9 5.6 7.9 5.8 6.6 7.0 7.9 8.3 11

 12 Corporate equities 190.1 215.6 214.8 220.8 252.2 309.7 267.4 272.4 280.5 309.7 317.4 12

 13 Mutual fund shares 7.6 9.5 10.2 9.1 11.8 15.5 12.7 13.0 13.8 15.5 16.0 13

 14 Trade receivables 86.7 83.0 83.8 87.2 92.0 95.2 94.0 96.6 98.3 95.2 102.6 14

 15 Miscellaneous assets 102.6 123.7 99.1 86.9 94.6 105.8 98.7 106.4 110.0 105.8 103.7 15

 16 Total liabilities 792.3 804.3 823.2 856.0 886.9 908.8 888.5 892.6 896.5 908.8 917.2 16

 17 Security repurchase agreements 2.4 0.6 1.5 0.4 0.8 2.2 1.1 1.4 1.8 2.2 2.8 17

 18 Taxes payable (net) -21.1 -15.8 -10.1 -14.5 -10.8 8.4 -3.2 -5.2 -2.5 8.4 10.7 18

 19 Miscellaneous liabilities 811.0 819.5 831.9 870.1 896.9 898.2 890.5 896.4 897.2 898.2 903.7 19

L.115 Life Insurance Companies (1)

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

 1 Total financial assets 4514.4 4823.9 5167.8 5340.1 5614.7 5977.3 5738.6 5750.8 5857.1 5977.3 6056.4 1

 2 Checkable deposits and currency 82.8 50.7 51.7 53.7 56.4 47.2 56.3 45.5 53.5 47.2 50.2 2

 3 Money market fund shares 39.2 33.7 21.0 28.8 27.5 21.6 20.6 19.1 21.6 21.6 20.3 3

 4 Security repurchase agreements 8.0 10.2 10.9 10.1 8.5 8.5 6.8 6.6 8.0 8.5 6.6 4

 5 Credit market instruments 2882.8 3022.6 3174.2 3299.6 3373.9 3448.7 3383.9 3405.1 3422.5 3448.7 3480.3 5

 6 Open market paper 38.3 49.8 40.9 29.7 43.6 46.7 39.3 39.7 44.4 46.7 44.7 6

 7 Treasury securities 105.7 133.5 156.6 175.4 180.9 171.6 176.7 174.4 172.8 171.6 174.6 7

 8 Agency- and GSE-backed securities 366.2 371.9 376.0 374.4 360.9 352.3 359.2 357.4 354.3 352.3 350.3 8

 9 Municipal securities 47.1 73.1 112.3 121.8 131.5 141.2 134.0 136.6 138.5 141.2 141.1 9

 10 Corporate and foreign bonds 1817.0 1927.2 2030.2 2117.3 2162.2 2219.8 2180.5 2196.7 2203.1 2219.8 2248.8 10

 11 Other loans and advances 166.1 140.9 140.7 148.6 150.4 153.9 149.6 151.3 152.2 153.9 155.2 11

 12 Mortgages 342.4 326.1 317.5 332.5 344.4 363.2 344.6 349.1 357.2 363.2 365.7 12

 13 Corporate equities 1001.7 1208.5 1402.6 1390.2 1545.1 1794.4 1638.3 1662.5 1712.3 1794.4 1816.9 13

 14 Mutual fund shares 121.0 140.8 155.7 150.1 159.3 184.8 167.6 168.8 175.9 184.8 185.6 14

 15 Miscellaneous assets 379.0 357.6 351.9 407.6 444.0 472.2 465.0 443.1 463.3 472.2 496.4 15

 16 Total liabilities 4265.0 4532.3 4844.3 5002.2 5248.8 5602.8 5365.9 5381.2 5481.5 5602.8 5676.9 16

 17 Security repurchase agreements 12.9 12.4 10.3 10.4 13.5 12.7 13.7 13.8 13.4 12.7 11.7 17

 18 Other loans and advances 54.9 48.3 45.1 46.8 51.6 59.4 52.9 54.5 53.8 59.4 61.3 18

 19 Life insurance reserves 1133.4 1194.5 1229.9 1302.3 1309.0 1366.3 1320.1 1329.6 1347.3 1366.3 1384.5 19

 20 Pension entitlements (2) 2219.2 2350.4 2568.5 2601.7 2788.3 3041.7 2876.2 2900.3 2955.4 3041.7 3072.2 20

 21 Taxes payable (net) -24.4 -31.4 -28.8 -23.6 -28.3 -30.5 -28.4 -30.1 -30.1 -30.5 -29.0 21

 22 Miscellaneous liabilities 868.9 958.0 1019.3 1064.6 1114.6 1153.3 1131.5 1113.1 1141.7 1153.3 1176.2 22

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on L.115.g and L.115.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 22).
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L.116 Private and Public Pension Funds (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (2) 11723.3 12716.7 14036.0 14376.9 15148.4 16350.0 15534.5 15704.0 15993.6 16350.0 16516.3 1

 2 Checkable deposits and currency 16.9 14.0 16.7 22.6 22.2 22.5 22.3 22.8 22.5 22.5 23.1 2

 3 Time and savings deposits 57.7 61.7 66.6 70.8 68.7 75.9 70.0 70.3 71.0 75.9 79.2 3

 4 Money market fund shares 200.8 188.7 180.9 196.3 189.3 195.9 190.5 190.7 190.3 195.9 197.3 4

 5 Security repurchase agreements 5.9 5.9 6.0 6.1 5.9 6.5 6.0 6.0 6.0 6.5 6.8 5

 6 Credit market instruments 1733.5 1668.4 1821.7 1932.9 1967.3 2086.5 1981.2 2016.3 1935.8 2086.5 2093.9 6

 7 Open market paper 76.1 77.6 80.6 85.1 81.6 85.8 83.4 83.5 82.8 85.8 90.3 7

 8 Treasury securities 389.1 453.4 504.6 565.0 644.0 712.8 661.0 671.4 586.5 712.8 722.1 8

 9 Agency- and GSE-backed securities 357.4 347.9 356.0 373.2 413.3 438.9 419.0 429.5 434.2 438.9 434.7 9

 10 Corporate and foreign bonds 868.4 752.0 839.9 874.4 797.4 823.4 788.0 803.5 805.1 823.4 822.7 10

 11 Mortgages 41.2 36.1 38.5 33.8 30.6 25.1 29.3 28.2 26.9 25.1 23.7 11

 12 Corporate equities 2741.1 3392.8 3872.8 3689.3 4116.6 4999.4 4463.3 4514.2 4716.0 4999.4 5023.6 12

 13 Mutual fund shares 1532.9 2032.7 2301.7 2205.0 2462.3 3066.9 2685.0 2741.4 2893.4 3066.9 3124.7 13

 14 Miscellaneous assets 5434.5 5352.5 5769.7 6254.0 6316.2 5896.6 6116.3 6142.3 6158.7 5896.6 5967.7 14

 15 Claims of pension fund on sponsor (3) 3468.2 3210.8 3508.2 3861.0 3867.3 3295.8 3645.8 3745.9 3765.7 3295.8 3353.2 15

 16 Other 584.1 603.5 633.9 679.1 676.0 698.6 674.3 684.9 690.4 698.6 717.7 16

 17 Pension entitlements (liabilities) (4) 11852.7 12859.0 14183.1 14524.4 15305.5 16522.1 15696.0 15865.7 16160.2 16522.1 16694.2 17

 Memo:

 Funded status of defined benefit plans:

 18 Pension entitlements 8976.1 9315.4 10164.2 10513.6 10887.1 11236.0 10974.5 11061.3 11148.3 11236.0 11322.6 18

 19 Funded by assets (5) 5507.9 6104.6 6656.1 6652.6 7019.7 7940.2 7328.7 7315.3 7484.3 7940.2 7969.3 19

 20 Unfunded (line 15) 3468.2 3210.8 3508.2 3861.0 3867.3 3295.8 3645.8 3745.9 3664.0 3295.8 3353.2 20

 21 Household retirement assets (6) 17247.5 19156.2 21198.6 21538.6 23025.7 25389.7 23775.7 24026.3 24642.0 25389.7 ND 21

 22 Defined benefit plans (7) 8846.7 9173.1 10017.2 10366.1 10730.0 11063.9 10813.0 10899.6 10981.7 11063.9 11144.7 22

 23 Defined contribution plans (8) 2876.6 3543.6 4018.8 4010.8 4418.4 5286.1 4721.5 4804.4 5011.9 5286.1 5371.6 23

 24 Individual retirement plans (IRAs) (9) 3681.0 4488.0 5029.0 5001.0 5561.0 6521.0 5852.0 5910.0 6193.0 6521.0 ND 24

 25 Annuities at life insurance companies (10) 1843.2 1951.4 2133.5 2160.7 2316.3 2518.7 2389.2 2412.3 2455.4 2518.7 ND 25

(1) Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded defined benefit pension entitlements).

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(6) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(7) Additional detail on private defined benefit plans is available on table L.117.b.

(8) Additional detail on private defined contribution plans is available on table L.117.c.

(9) IRA assets are not included above. See table L.226.i for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs at life insurance companies are excluded. They are included in line 24.
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L.117 Private Pension Funds (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (2) 5260.4 5940.6 6590.3 6642.5 7121.6 7973.7 7421.8 7522.3 7725.5 7973.7 8064.4 1

 2 Checkable deposits and currency 13.4 10.4 12.6 18.3 18.0 17.5 18.0 18.4 18.1 17.5 17.7 2

 3 Time and savings deposits 30.2 33.0 32.1 33.4 31.6 31.1 31.6 31.2 31.0 31.1 31.5 3

 4 Money market fund shares 156.2 147.4 137.3 154.1 150.2 148.7 150.1 149.6 148.1 148.7 147.0 4

 5 Security repurchase agreements 2.8 2.9 2.7 2.7 2.6 2.5 2.6 2.5 2.5 2.5 2.6 5

 6 Credit market instruments 782.7 795.5 918.6 991.8 1004.3 1049.1 1011.4 1028.9 1040.0 1049.1 1048.4 6

 7 Open market paper 44.3 45.3 42.6 44.7 42.0 38.0 42.4 41.8 40.1 38.0 39.3 7

 8 Treasury securities 147.4 182.4 215.6 243.4 291.4 331.5 306.4 319.3 326.2 331.5 335.5 8

 9 Agency- and GSE-backed securities 190.3 184.0 190.4 193.8 210.9 224.5 213.2 217.3 220.7 224.5 222.7 9

 10 Corporate and foreign bonds 374.6 360.0 443.4 488.0 440.7 438.5 430.7 432.6 435.8 438.5 435.0 10

 11 Mortgages 26.1 23.8 26.6 21.9 19.4 16.5 18.7 18.0 17.2 16.5 15.9 11

 12 Corporate equities 1380.4 1647.1 1938.3 1826.1 2041.6 2483.8 2205.9 2238.4 2346.2 2483.8 2517.3 12

 13 Mutual fund shares 1362.3 1827.5 2084.7 2052.8 2340.6 2920.5 2553.1 2608.7 2755.4 2920.5 2979.0 13

 14 Miscellaneous assets 1532.6 1476.7 1464.1 1563.2 1532.7 1320.6 1449.1 1444.5 1384.1 1320.6 1320.8 14

 15 Unallocated insurance contracts (3) 283.0 385.4 393.7 406.3 425.6 457.6 437.3 439.7 447.8 457.6 465.1 15

 16 Contributions receivable 84.0 75.6 91.1 94.0 93.2 92.2 93.4 93.5 93.2 92.2 92.0 16

 17 Claims of pension fund on sponsor (4) 677.4 497.6 446.5 486.6 440.2 187.7 349.7 335.6 265.7 187.7 165.8 17

 18 Other 488.2 518.2 532.9 576.3 573.8 583.1 568.7 575.7 577.4 583.1 598.0 18

 19 Pension entitlements (liabilities) (5) 5295.7 5977.0 6626.9 6679.0 7158.1 8010.2 7458.3 7558.8 7762.0 8010.2 8100.9 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 2608.2 2662.7 2872.2 2953.1 3054.3 3105.0 3067.0 3079.7 3092.4 3105.0 3117.7 20

 21 Funded by assets (6) 1930.8 2165.1 2425.7 2466.4 2614.2 2917.3 2717.3 2744.1 2826.7 2917.3 2951.9 21

 22 Unfunded (line 17) 677.4 497.6 446.5 486.6 440.2 187.7 349.7 335.6 265.7 187.7 165.8 22

 Total financial assets (7)

 23 Defined benefit plans 2572.9 2626.3 2835.7 2916.6 3017.8 3068.5 3030.5 3043.2 3055.8 3068.5 3081.2 23

 24 Defined contribution plans 2687.5 3314.3 3754.6 3725.9 4103.8 4905.1 4391.3 4479.1 4669.6 4905.1 4983.2 24

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

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

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on L.117.b and L.117.c.
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L.118 State and Local Government Employee Retirement Funds (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (2) 3704.9 3853.9 4298.2 4478.2 4652.6 4845.9 4700.2 4752.1 4799.3 4845.9 4892.2 1

 2 Checkable deposits and currency 3.6 3.6 4.1 4.3 4.2 5.0 4.3 4.4 4.5 5.0 5.4 2

 3 Time and savings deposits 27.5 28.7 34.6 37.4 37.1 44.8 38.4 39.0 40.0 44.8 47.7 3

 4 Money market fund shares 44.6 41.2 43.5 42.2 39.1 47.2 40.4 41.1 42.1 47.2 50.2 4

 5 Security repurchase agreements 3.1 3.0 3.4 3.4 3.3 3.9 3.4 3.4 3.5 3.9 4.2 5

 6 Credit market instruments 827.6 742.4 761.6 774.1 780.6 845.3 790.8 819.6 823.3 845.3 852.0 6

 7 Open market paper 31.7 32.3 38.0 40.3 39.6 47.9 41.0 41.7 42.7 47.9 50.9 7

 8 Treasury securities 129.5 151.4 159.3 168.5 187.3 203.4 191.6 199.3 202.4 203.4 205.8 8

 9 Agency- and GSE-backed securities 161.9 158.7 159.8 172.9 194.3 207.9 198.3 205.2 206.9 207.9 206.3 9

 10 Municipal securities 1.3 1.4 2.1 1.4 0.5 0.4 0.4 0.4 0.3 0.4 0.4 10

 11 Corporate and foreign bonds 488.1 386.2 390.6 379.0 347.7 377.2 348.8 362.9 361.4 377.2 380.8 11

 12 Mortgages 15.1 12.3 11.9 11.9 11.2 8.6 10.7 10.2 9.7 8.6 7.8 12

 13 Corporate equities 1277.0 1628.8 1793.6 1728.8 1926.9 2309.4 2089.7 2102.1 2185.3 2309.4 2294.5 13

 14 Mutual fund shares 170.6 205.2 217.0 152.2 121.6 146.4 131.9 132.7 138.0 146.4 145.7 14

 15 Miscellaneous assets 1350.9 1201.0 1440.4 1735.9 1739.8 1443.7 1601.3 1609.9 1562.7 1443.7 1492.5 15

 16 Claims of pension fund on sponsor (3) 1255.0 1115.7 1339.4 1633.2 1637.5 1328.2 1495.7 1500.7 1449.7 1328.2 1372.8 16

 17 Other 95.9 85.3 101.0 102.7 102.2 115.5 105.6 109.2 113.0 115.5 119.7 17

 18 Pension entitlements (liabilities) (4) 3799.0 3959.8 4408.7 4589.2 4773.1 4981.4 4825.2 4877.3 4929.4 4981.4 5033.5 18

 Memo:

 Funded status of defined benefit plans:

 19 Pension entitlements 3799.0 3959.8 4408.7 4589.2 4773.1 4981.4 4825.2 4877.3 4929.4 4981.4 5033.5 19

 20 Funded by assets (5) 2544.0 2844.2 3069.3 2956.0 3135.6 3653.3 3329.5 3376.6 3479.6 3653.3 3660.7 20

 21 Unfunded (line 16) 1255.0 1115.7 1339.4 1633.2 1637.5 1328.2 1495.7 1500.7 1449.7 1328.2 1372.8 21

(1) Defined benefit plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

L.119 Federal Government Employee Retirement Funds

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

 1 Total financial assets (1) 2758.0 2922.2 3147.5 3256.2 3374.2 3530.5 3412.5 3429.6 3468.8 3530.5 3559.8 1

 2 Credit market instruments 123.2 130.6 141.5 167.0 182.4 192.0 178.9 167.8 72.5 192.0 193.5 2

 3 Treasury securities (2) 112.2 119.6 129.7 153.2 165.3 177.9 162.9 152.8 57.9 177.9 180.9 3

 4 Agency- and GSE-backed securities 5.2 5.2 5.8 6.5 8.1 6.4 7.5 7.0 6.6 6.4 5.7 4

 5 Corporate and foreign bonds 5.8 5.7 5.9 7.3 9.0 7.7 8.5 8.0 8.0 7.7 6.9 5

 6 Corporate equities 83.7 116.8 140.9 134.4 148.1 206.2 167.8 173.8 184.5 206.2 211.8 6

 7 Miscellaneous assets 2551.1 2674.8 2865.1 2954.8 3043.7 3132.3 3065.9 3088.0 3211.8 3132.3 3154.4 7

 8 Nonmarketable Treasury securities (3) 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 1265.5 1178.4 1161.5 1352.3 1339.7 8

 9 Claims of pension fund on sponsor (4) 1535.8 1597.6 1722.2 1741.1 1789.6 1780.0 1800.3 1909.6 2050.3 1780.0 1814.7 9

 10 Pension entitlements (liabilities) (5) 2758.0 2922.2 3147.5 3256.2 3374.2 3530.5 3412.5 3429.6 3468.8 3530.5 3559.8 10

 Memo:

 Funded status of defined benefit plans:

 11 Pension entitlements 2568.9 2692.9 2883.3 2971.3 3059.6 3149.5 3082.3 3104.3 3126.6 3149.5 3171.4 11

 12 Funded by assets (6) 1033.1 1095.4 1161.1 1230.2 1270.0 1369.6 1282.0 1194.7 1178.0 1369.6 1356.7 12

 13 Unfunded (line 9) 1535.8 1597.6 1722.2 1741.1 1789.6 1780.0 1800.3 1909.6 1948.6 1780.0 1814.7 13

 Total financial assets

 14 Defined benefit plans (7) 2568.9 2692.9 2883.3 2971.3 3059.6 3149.5 3082.3 3104.3 3126.6 3149.5 3171.4 14

 15 Defined contribution plans (8) 189.1 229.3 264.2 284.9 314.6 381.0 330.2 325.3 342.2 381.0 388.4 15

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes nonmarketable Treasury securities held by the Thrift Savings Plan.

(3) 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.

(4) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(6) Total defined benefit financial assets less defined benefit claims of pension fund on sponsor.

(7) Includes the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and disability fund,

 and National Railroad Retirement Investment Trust.

(8) Thrift Savings Plan.
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L.120 Money Market Mutual Funds (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3757.3 3258.6 2755.4 2642.5 2649.6 2678.3 2552.1 2541.9 2637.4 2678.3 2591.5 1

 2 Foreign deposits 85.6 97.1 105.9 42.9 43.3 33.7 48.7 37.1 36.3 33.7 19.4 2

 3 Checkable deposits and currency 7.5 17.9 14.2 20.1 16.5 13.3 10.9 27.5 11.0 13.3 15.5 3

 4 Time and savings deposits 396.8 566.6 458.9 402.7 435.4 494.9 429.2 444.3 494.4 494.9 493.4 4

 5 Security repurchase agreements 542.4 480.0 479.4 490.5 544.7 493.0 470.3 450.4 489.1 493.0 506.2 5

 6 Credit market instruments 2689.9 2070.0 1673.4 1663.6 1580.9 1611.8 1561.4 1550.9 1572.8 1611.8 1519.9 6

 7 Open market paper 618.5 510.5 394.2 354.2 340.8 352.1 350.6 356.6 357.9 352.1 354.3 7

 8 Treasury securities 577.7 406.4 335.4 443.3 457.8 488.2 470.1 449.0 466.5 488.2 454.4 8

 9 Agency- and GSE-backed securities 756.2 543.0 402.8 403.7 343.5 361.1 325.3 345.0 354.0 361.1 326.1 9

 10 Municipal securities 509.5 440.1 386.7 357.3 336.7 308.3 312.5 309.6 305.1 308.3 296.4 10

 11 Corporate and foreign bonds 228.0 169.9 154.2 105.1 102.1 102.1 102.8 90.7 89.1 102.1 88.7 11

 12 Miscellaneous assets 35.2 26.9 23.5 22.7 28.8 31.7 31.5 31.9 33.8 31.7 37.2 12

 13 Total shares outstanding (liabilities) 3757.3 3258.6 2755.4 2642.5 2649.6 2678.3 2552.1 2541.9 2637.4 2678.3 2591.5 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.121 Mutual Funds (1)

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

 1 Total financial assets 5388.0 6920.7 7873.0 7870.9 9323.6 11544.6 10087.4 10299.5 10904.9 11544.6 11775.7 1

 2 Security repurchase agreements 124.7 153.3 137.5 108.7 262.7 355.7 307.9 328.2 354.0 355.7 370.6 2

 3 Credit market instruments 2229.2 2616.3 2969.9 3329.3 3981.3 4345.2 4184.4 4242.8 4287.7 4345.2 4473.2 3

 4 Open market paper 51.6 80.2 66.3 40.0 77.5 105.2 98.5 100.7 104.6 105.2 110.1 4

 5 Treasury securities 184.0 258.0 378.9 452.7 573.3 632.7 628.4 627.4 622.9 632.7 675.8 5

 6 Agency- and GSE-backed securities 553.3 603.2 681.6 788.6 878.0 849.6 881.0 874.4 854.3 849.6 838.4 6

 7 Municipal securities 389.4 478.8 525.5 541.2 627.4 613.9 646.6 641.0 620.7 613.9 621.1 7

 8 Corporate and foreign bonds 956.2 1120.7 1243.0 1413.4 1719.4 1998.7 1816.6 1868.5 1947.3 1998.7 2076.3 8

 9 Other loans and advances 94.8 75.4 74.6 93.5 105.7 145.1 113.4 130.9 137.9 145.1 151.3 9

 10 Corporate equities 3014.1 4136.2 4762.7 4427.2 5107.0 6852.0 5611.2 5743.8 6246.2 6852.0 6940.3 10

 11 Miscellaneous assets 20.0 14.9 2.9 5.7 -27.4 -8.3 -16.2 -15.3 17.0 -8.3 -8.3 11

 12 Total shares outstanding (liabilities) 5388.0 6920.7 7873.0 7870.9 9323.6 11544.6 10087.4 10299.5 10904.9 11544.6 11775.7 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.122 Closed-End and Exchange-Traded Funds

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

 Closed-end funds

 1 Total financial assets 202.9 229.1 243.7 241.1 257.0 283.6 272.0 278.0 279.4 283.6 286.9 1

 2 Credit market instruments 130.6 141.1 146.5 144.8 155.8 169.2 163.5 169.6 168.9 169.2 169.8 2

 3 Treasury securities 3.2 4.4 5.1 4.8 5.2 5.7 5.7 5.8 5.8 5.7 5.8 3

 4 Municipal securities 77.9 81.2 81.6 82.5 85.8 84.1 86.2 86.2 84.7 84.1 84.9 4

 5 Corporate and foreign bonds 49.5 55.6 59.8 57.4 64.9 79.4 71.6 77.6 78.4 79.4 79.1 5

 6 Corporate equities 72.3 87.9 97.2 96.4 101.1 114.3 108.5 108.4 110.5 114.3 117.1 6

 7 Total shares outstanding (liabilities) 202.9 229.1 243.7 241.1 257.0 283.6 272.0 278.0 279.4 283.6 286.9 7

 Exchange-traded funds

 8 Total financial assets 531.1 773.1 986.8 1042.6 1324.4 1670.6 1434.0 1413.7 1537.3 1670.6 1704.1 8

 9 Credit market instruments 57.1 103.0 132.7 178.8 231.1 243.3 238.2 241.4 245.8 243.3 254.3 9

 10 Treasury securities 27.1 41.8 51.0 62.4 63.6 57.1 62.8 64.1 63.9 57.1 59.3 10

 11 Municipal securities 2.3 5.9 7.6 8.6 12.3 11.4 13.0 12.5 11.5 11.4 11.8 11

 12 Corporate and foreign bonds 27.7 55.4 74.1 107.7 155.3 174.8 162.3 164.9 170.4 174.8 183.2 12

 13 Corporate equities 474.0 670.0 854.1 863.8 1093.3 1427.3 1195.9 1172.2 1291.5 1427.3 1449.9 13

 14 Total shares outstanding (liabilities) 531.1 773.1 986.8 1042.6 1324.4 1670.6 1434.0 1413.7 1537.3 1670.6 1704.1 14
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L.123 Government-Sponsored Enterprises (GSEs) (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3409.2 3048.5 6722.4 6480.2 6275.1 6361.3 6328.7 6308.3 6339.7 6361.3 6256.8 1

 2 Checkable deposits and currency 88.3 99.4 63.4 72.7 52.6 81.6 64.1 51.7 77.4 81.6 45.4 2

 3 Time and savings deposits 68.5 25.7 26.1 13.4 4.3 5.4 3.6 4.8 7.5 5.4 7.9 3

 4 Federal funds and security repos 115.8 123.3 151.2 112.3 150.8 152.3 193.6 151.3 133.4 152.3 127.3 4

 5 Credit market instruments 3037.5 2699.7 6333.1 6133.4 5914.8 5956.4 5899.5 5932.8 5954.5 5956.4 5924.1 5

 6 Open market paper 6.8 9.7 9.9 6.5 3.4 4.4 4.2 4.3 5.0 4.4 4.8 6

 7 Treasury securities 16.8 36.6 82.6 100.2 69.0 59.1 74.6 75.5 82.6 59.1 65.2 7

 8 Agency- and GSE-backed securities 910.0 924.5 377.0 358.9 310.6 287.9 300.6 292.5 294.7 287.9 283.5 8

 9 Municipal securities 31.3 29.1 24.9 21.0 17.0 13.4 16.3 14.8 13.8 13.4 12.7 9

 10 Corporate and foreign bonds 386.6 296.0 266.5 235.7 185.7 126.3 179.9 168.6 139.1 126.3 120.1 10

 11 Other loans and advances 980.7 695.9 551.3 487.0 505.7 587.5 498.8 541.0 547.3 587.5 576.9 11

 12 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Farm Credit System 80.3 80.0 87.3 83.8 92.1 95.0 91.4 90.3 89.7 95.0 98.3 13

 14 FHLB 900.5 615.9 464.0 403.3 413.6 492.6 407.4 450.7 457.7 492.6 478.5 14

 15 Mortgages 705.3 707.7 5021.0 4924.0 4823.5 4877.8 4825.0 4836.1 4872.0 4877.8 4861.0 15

 16 Home 456.6 433.4 4690.7 4587.7 4476.1 4548.2 4480.2 4494.0 4535.2 4548.2 4535.0 16

 17 Consolidated trusts (2) 0.0 0.0 4141.0 4032.1 3958.0 4087.7 3982.2 4005.6 4064.3 4087.7 4085.6 17

 18 Other 456.6 433.4 549.7 555.6 518.0 460.5 498.0 488.3 470.9 460.5 449.4 18

 19 Multifamily residential 190.2 204.4 256.5 259.2 265.5 243.5 261.9 258.1 251.8 243.5 238.9 19

 20 Consolidated trusts (2) 0.0 0.0 75.4 99.9 127.4 146.3 133.9 139.2 141.9 146.3 148.8 20

 21 Other 190.2 204.4 181.1 159.4 138.1 97.2 128.0 118.8 109.9 97.2 90.1 21

 22 Farm 58.5 69.9 73.8 77.1 82.0 86.1 82.9 84.0 85.0 86.1 87.1 22

 23 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous assets 99.1 100.3 148.6 148.5 152.6 165.6 167.9 167.7 166.8 165.6 152.1 24

 25 Total liabilities 3390.2 2977.0 6615.1 6377.9 6216.8 6314.9 6223.6 6259.5 6267.3 6314.9 6222.6 25

 26 Federal funds and security repos 1.3 1.2 1.3 0.4 0.0 0.0 0.2 0.0 0.0 0.0 0.0 26

 27 Credit market instruments 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 6103.5 6137.6 6147.7 6200.2 6111.4 27

 28 GSE issues (4) 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 6103.5 6137.6 6147.7 6200.2 6111.4 28

 29 Consolidated trusts (2) 0.0 0.0 4216.4 4132.0 4085.4 4234.0 4116.1 4144.9 4206.2 4234.0 4234.5 29

 30 Other 3181.9 2706.6 2218.1 2115.4 2007.3 1966.2 1987.4 1992.8 1941.5 1966.2 1876.9 30

 31 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Miscellaneous liabilities 207.0 269.2 179.4 130.2 124.1 114.7 119.9 121.9 119.6 114.7 111.2 32

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.124) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

L.124 Agency- and GSE-Backed Mortgage Pools (1)

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

 1 Total financial assets 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 1

 2 Home mortgages 4864.0 5266.5 1068.8 1216.8 1321.8 1420.6 1340.2 1366.2 1400.2 1420.6 1432.0 2

 3 Multifamily residential mortgages 92.8 105.7 66.9 86.4 113.4 147.1 120.6 130.1 138.8 147.1 152.0 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 4.7 4.5 3.8 1.7 1.9 1.8 1.9 1.8 1.8 1.8 1.7 5

 6 Total pool securities (liabilities)(2) 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (table L.123). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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L.125 Issuers of Asset-Backed Securities (ABS)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 4100.5 3288.7 2235.1 1988.6 1768.9 1615.1 1715.9 1664.0 1632.4 1615.1 1580.8 1

 2 Treasury securities 72.2 53.9 40.1 29.2 23.4 24.3 20.5 21.2 22.9 24.3 25.0 2

 3 Agency- and GSE-backed securities (1) 323.7 99.6 3.6 0.3 0.3 0.1 0.2 0.1 0.1 0.1 0.1 3

 4 Other loans and advances 379.8 252.2 167.8 162.4 161.7 150.2 150.8 147.6 151.1 150.2 153.9 4

 5 Mortgages (2) 2619.0 2249.3 1921.5 1702.9 1492.4 1356.1 1454.2 1410.7 1375.2 1356.1 1321.4 5

 6 Home 1901.2 1577.6 1302.2 1109.0 928.2 791.2 894.6 855.6 821.0 791.2 767.6 6

 7 Multifamily residential 113.1 107.0 98.4 90.7 81.1 74.9 77.6 74.8 74.3 74.9 73.7 7

 8 Commercial 604.7 564.8 520.8 503.2 483.1 490.0 482.0 480.2 479.9 490.0 480.1 8

 9 Consumer credit 610.2 572.5 50.3 46.2 50.0 48.6 50.0 48.2 48.5 48.6 46.2 9

 10 Trade credit 95.5 61.3 51.8 47.6 41.2 35.7 40.1 36.2 34.6 35.7 34.3 10

 11 Total liabilities 4103.2 3291.0 2235.1 1988.6 1768.9 1615.1 1715.9 1664.0 1632.4 1615.1 1580.8 11

 12 Commercial paper 559.3 293.1 120.2 96.0 87.0 79.9 88.0 79.6 79.2 79.9 73.7 12

 13 Corporate bonds (net) (3) 3544.0 2998.0 2114.9 1892.5 1681.9 1535.2 1627.8 1584.4 1553.2 1535.2 1507.1 13

 Memo:

 Securitized assets not included above

 14 Consumer leases (4) 2.7 2.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 REIT assets (5) 45.4 18.6 18.1 14.3 15.6 18.3 16.0 17.7 18.1 18.3 18.0 15

 Securitized liabilities not included above

 16 Commercial paper (6) 0.0 0.0 112.9 120.6 87.5 59.7 74.4 64.2 57.3 59.7 58.4 16

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Liabilities net of assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(5) Included in table L.127.

(6) Included in table L.110 line 43.

L.126 Finance Companies (1)

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

 1 Total financial assets 1851.7 1662.5 1588.5 1569.3 1493.7 1472.8 1480.2 1476.1 1487.9 1472.8 1466.6 1

 2 Checkable deposits and currency 16.5 17.0 26.5 31.7 27.8 32.1 30.2 30.0 34.2 32.1 33.3 2

 3 Time and savings deposits 49.4 51.0 79.6 95.0 83.5 96.2 90.5 90.0 102.5 96.2 99.9 3

 4 Credit market instruments 1769.4 1549.7 1405.4 1359.6 1324.9 1293.1 1311.6 1310.6 1311.2 1293.1 1281.5 4

 5 Corporate and foreign bonds 192.4 198.6 84.1 85.0 78.7 67.9 75.0 70.1 70.0 67.9 71.8 5

 6 Other loans and advances 539.9 448.9 372.7 375.8 387.0 389.0 390.9 394.8 396.9 389.0 385.7 6

 7 Mortgages 482.9 430.3 243.5 211.2 179.5 157.0 174.4 171.2 165.9 157.0 154.1 7

 8 Consumer credit 554.3 471.9 705.0 687.6 679.8 679.1 671.3 674.6 678.5 679.1 669.9 8

 9 Miscellaneous assets 16.4 44.8 77.0 83.1 57.4 51.4 47.9 45.4 39.9 51.4 51.9 9

 10 Total liabilities 1880.5 1630.3 1558.7 1532.7 1445.6 1424.0 1428.8 1422.7 1432.2 1424.0 1410.4 10

 11 Credit market instruments 1200.3 1044.1 1280.7 1261.9 1205.1 1209.3 1193.0 1196.0 1206.6 1209.3 1194.3 11

 12 Open market paper 100.9 62.1 111.0 121.0 129.1 118.8 121.8 119.6 124.9 118.8 114.0 12

 13 Corporate bonds 924.5 837.5 1078.2 1038.8 957.5 961.9 952.5 949.0 955.1 961.9 956.9 13

 14 Depository institution loans n.e.c. 174.9 144.5 91.5 102.1 118.5 128.6 118.7 127.5 126.7 128.6 123.4 14

 15 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Taxes payable 15.4 12.7 6.0 6.7 6.7 6.8 6.9 6.8 7.0 6.8 6.9 16

 17 Miscellaneous liabilities 664.8 573.6 271.9 264.1 233.8 207.9 228.9 219.9 218.5 207.9 209.1 17

 18 Foreign direct investment in U.S. 78.1 90.0 114.7 96.1 96.3 74.8 95.3 95.9 96.2 74.8 74.7 18

 19 Investment by parent 313.0 280.5 175.7 163.7 162.8 161.8 160.4 162.6 163.0 161.8 167.1 19

 20 Other 273.7 203.1 -18.4 4.3 -25.3 -28.7 -26.9 -38.7 -40.7 -28.7 -32.7 20

 Memo:

 21 Consumer leases not included above (2) 111.1 85.4 111.8 119.7 144.0 167.3 149.8 157.2 163.9 167.3 172.1 21

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table L.125.
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L.127 Real Estate Investment Trusts (REITs) (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 250.6 262.8 302.4 433.4 594.2 506.6 595.5 589.7 558.2 506.6 510.6 1

 2 Checkable deposits and currency 18.4 30.9 25.1 27.6 35.3 34.0 40.9 37.5 39.9 34.0 32.9 2

 3 Credit market instruments 177.6 167.2 211.1 331.2 458.5 360.6 448.7 437.2 416.9 360.6 354.2 3

 4 Agency- and GSE-backed securities 89.6 105.2 143.4 248.1 357.6 261.9 345.9 327.5 306.9 261.9 253.5 4

 5 Corporate and foreign bonds 11.7 16.0 23.2 27.0 36.5 36.3 39.8 39.7 40.0 36.3 35.1 5

 6 Mortgages 76.3 46.0 44.6 56.1 64.5 62.4 63.1 70.0 70.1 62.4 65.5 6

 7 Home 34.3 8.9 9.0 19.8 26.5 23.1 26.6 31.2 31.1 23.1 24.1 7

 8 Multifamily residential 4.3 2.3 2.0 1.7 1.9 2.4 2.1 2.8 2.7 2.4 2.2 8

 9 Commercial 37.7 34.8 33.7 34.6 36.1 36.9 34.3 36.0 36.3 36.9 39.2 9

 10 Miscellaneous assets 54.6 64.8 66.1 74.7 100.4 112.0 105.9 115.0 101.4 112.0 123.5 10

 11 Total liabilities 511.6 489.9 523.9 654.4 817.8 770.4 814.4 813.3 787.8 770.4 778.3 11

 12 Security repurchase agreements 79.4 90.5 120.4 218.1 320.6 254.0 322.0 309.8 288.8 254.0 242.2 12

 13 Credit market instruments 367.4 339.8 339.9 365.5 401.0 444.2 403.0 412.9 422.4 444.2 456.8 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 171.0 144.4 145.4 152.9 179.6 218.0 182.4 189.0 197.7 218.0 225.6 15

 16 Depository institution loans n.e.c. 32.8 20.2 18.4 23.0 27.0 24.0 21.1 23.2 27.6 24.0 27.1 16

 17 Mortgages 163.5 175.3 176.1 189.5 194.4 202.2 199.5 200.7 197.1 202.2 204.1 17

 18 Miscellaneous liabilities 64.9 59.6 63.7 70.8 96.3 72.2 89.4 90.6 76.6 72.2 79.4 18

 Memo:

 19 Securitized assets included above 45.4 18.6 18.1 14.3 15.6 18.3 16.0 17.7 18.1 18.3 18.0 19

 20 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Home mortgages 31.8 6.1 7.2 6.5 10.2 14.2 10.6 12.6 12.8 14.2 14.1 21

 22 Multifamily residential mortgages 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 22

 23 Commercial mortgages 13.2 12.2 10.6 7.5 5.2 3.8 5.0 4.8 5.0 3.8 3.6 23

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on L.127.e and L.127.m.
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L.128 Security Brokers and Dealers

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3505.6 3269.3 3503.6 3532.8 3706.5 3408.4 3607.7 3561.9 3473.5 3408.4 3275.6 1

 2 Checkable deposits and currency 120.1 90.7 96.9 111.8 128.2 111.7 111.6 121.8 116.8 111.7 105.4 2

 3 Security repurchase agreements 1288.4 1185.0 1428.5 1583.1 1638.2 1321.0 1518.5 1478.9 1413.9 1321.0 1267.5 3

 4 Credit market instruments 717.4 525.3 557.5 563.2 652.3 476.9 602.7 516.9 499.1 476.9 472.4 4

 5 Open market paper 65.7 41.5 36.2 42.1 29.9 28.7 30.0 29.4 31.0 28.7 28.2 5

 6 Treasury securities 190.6 123.0 94.5 183.6 246.5 136.0 202.6 165.6 166.3 136.0 152.8 6

 7 Agency- and GSE-backed securities 242.6 110.9 149.8 147.7 169.6 114.2 153.9 125.8 105.7 114.2 87.9 7

 8 Municipal securities 38.7 35.4 40.0 30.9 26.6 18.6 31.0 19.0 18.3 18.6 21.1 8

 9 Corporate and foreign bonds 123.8 154.4 189.5 104.5 140.0 128.9 148.0 134.8 134.1 128.9 128.5 9

 10 Other loans and advances 55.9 60.1 47.4 54.3 39.6 50.4 37.2 42.2 43.8 50.4 53.9 10

 11 Corporate equities 109.2 124.2 117.2 103.2 126.7 172.4 117.1 121.4 126.8 172.4 185.0 11

 12 Security credit 164.8 203.0 278.2 238.9 303.7 339.2 307.9 302.6 313.7 339.2 351.7 12

 13 Miscellaneous assets 1105.7 1141.0 1025.3 932.6 857.4 987.2 949.8 1020.4 1003.3 987.2 893.6 13

 14 Total liabilities 3446.5 3162.7 3404.3 3452.1 3614.4 3313.8 3511.1 3466.1 3379.8 3313.8 3184.2 14

 15 Security repurchase agreements 2107.2 1810.4 2006.3 2076.7 2207.9 1768.6 2084.7 2001.0 1909.9 1768.6 1692.8 15

 16 Credit market instruments 142.6 92.9 129.7 91.8 90.2 112.4 89.1 103.1 96.1 112.4 115.7 16

 17 Corporate bonds 97.1 92.9 129.7 91.8 90.2 112.4 89.1 103.1 96.1 112.4 115.7 17

 18 Depository institution loans n.e.c. (1) 45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Trade payables 21.2 70.1 18.1 14.3 14.2 14.5 15.4 15.6 13.3 14.5 13.1 19

 20 Security credit 777.2 733.7 763.5 795.4 828.2 897.1 821.6 870.0 870.0 897.1 905.1 20

 21 From households 737.4 701.7 725.2 726.1 757.0 815.5 743.6 794.0 791.5 815.5 818.7 21

 22 From U.S.-chartered depository institutions 23.7 20.4 23.6 35.8 45.0 52.9 47.9 51.8 53.9 52.9 58.4 22

 23 From foreign banking offices in U.S. 16.1 11.6 14.7 33.5 26.2 28.7 30.2 24.2 24.7 28.7 28.0 23

 24 Taxes payable 2.5 5.7 3.6 2.5 3.1 3.7 4.4 4.4 4.6 3.7 2.6 24

 25 Miscellaneous liabilities 395.9 450.0 483.0 471.4 470.9 517.5 495.9 471.9 485.8 517.5 455.0 25

 26 Foreign direct investment in U.S. 72.1 64.4 88.5 96.3 103.5 108.8 105.1 106.1 106.9 108.8 110.8 26

 27 Investment by parent companies 672.1 1119.3 1122.9 1163.3 1629.2 1677.0 1638.2 1651.0 1620.4 1677.0 1690.6 27

 28 Other -348.3 -733.7 -728.3 -788.1 -1261.8 -1268.3 -1247.4 -1285.2 -1241.5 -1268.3 -1346.4 28

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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L.129 Holding Companies (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2430.3 3317.2 3312.7 3357.3 4319.6 4276.4 4415.0 4372.1 4385.8 4276.4 4319.4 1

 2 Time and savings deposits 0.7 11.2 10.0 12.4 37.8 40.7 34.4 36.4 35.8 40.7 42.5 2

 3 Federal funds and security repos 0.3 48.2 50.3 50.5 11.5 8.7 11.3 7.8 10.7 8.7 8.6 3

 4 Credit market instruments 73.0 75.8 97.9 101.1 219.5 161.9 226.0 239.2 229.2 161.9 155.1 4

 5 Treasury securities 3.1 5.8 19.6 26.8 9.0 18.8 10.6 20.9 18.8 18.8 18.7 5

 6 Agency- and GSE-backed securities 25.8 24.3 21.1 33.1 25.2 31.7 29.1 27.8 32.0 31.7 29.6 6

 7 Corporate and foreign bonds 35.8 31.1 38.3 18.3 79.9 35.7 80.3 79.8 78.0 35.7 33.8 7

 8 Other loans and advances 8.2 14.6 18.9 22.9 105.3 75.7 106.0 110.7 100.5 75.7 73.0 8

 9 Life insurance reserves 19.3 21.4 25.1 27.6 34.9 39.9 36.1 36.4 37.5 39.9 42.5 9

 10 Miscellaneous assets 2337.0 3160.6 3129.4 3165.9 4015.8 4025.2 4107.2 4052.2 4072.6 4025.2 4070.8 10

 11 Net trans. with depository subs. 1370.5 1599.5 1632.8 1709.0 1889.2 1944.2 1916.9 1880.5 1898.1 1944.2 1977.8 11

 12 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 22.4 14.7 16.7 16.7 14.9 14.7 14.6 12

 13 Net trans. with life insurance company subs. 31.2 40.5 62.7 72.0 17.2 10.7 17.4 17.3 17.7 10.7 11.0 13

 14 Net trans. with finance company subs. 232.6 209.3 115.0 94.6 91.1 75.4 74.7 75.8 75.9 75.4 77.8 14

 15 Net trans. with broker and dealer subs. 155.2 596.1 626.6 613.5 1060.5 1092.8 1054.3 1072.5 1032.3 1092.8 1097.0 15

 16 Net trans. with foreign subs. 101.5 125.1 135.6 166.3 114.7 85.7 137.2 100.7 127.3 85.7 95.8 16

 17 Other 446.0 590.3 556.7 510.4 820.7 801.7 890.0 888.8 906.4 801.7 796.8 17

 18 Total liabilities 1231.5 1802.2 1760.0 1703.1 2252.4 2157.1 2311.5 2276.6 2272.4 2157.1 2157.1 18

 19 Federal funds and security repos 0.7 0.6 0.8 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Credit market instruments 807.9 1253.7 1237.2 1220.8 1418.6 1402.7 1412.4 1375.0 1363.4 1402.7 1405.5 20

 21 Commercial paper 77.7 60.8 64.7 75.9 116.4 96.6 117.7 110.6 109.4 96.6 89.7 21

 22 Corporate bonds 638.9 1028.7 982.2 890.6 1105.3 1095.6 1093.8 1059.2 1071.3 1095.6 1107.2 22

 23 Depository institution loans n.e.c. 91.3 164.2 190.3 254.3 196.8 210.6 200.9 205.2 182.8 210.6 208.6 23

 24 Miscellaneous liabilities 422.9 548.0 522.0 481.1 833.8 754.4 899.1 901.5 908.9 754.4 751.6 24

(1) Parent only bank holding companies and savings and loan holding companies that file the Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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L.130 Funding Corporations (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2686.9 2236.9 2120.1 2048.3 2077.2 2022.9 2102.7 2057.2 2058.1 2022.9 2049.9 1

 2 Money market fund shares 905.8 752.1 604.1 514.9 486.1 381.6 445.3 396.1 413.4 381.6 357.7 2

 3 Security repurchase agreements 0.0 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 987.5 733.3 821.6 845.6 896.2 933.5 930.5 940.6 938.0 933.5 974.7 4

 5 Open market paper 284.4 0.1 40.0 33.8 11.4 2.9 27.3 20.7 19.3 2.9 31.9 5

 6 Corporate and foreign bonds 667.3 710.2 760.1 792.4 871.9 920.0 890.2 908.0 908.3 920.0 931.7 6

 7 Other loans and advances 35.9 22.9 21.4 19.4 12.9 10.6 12.9 11.8 10.4 10.6 11.1 7

 8 Corporate equities (2) 0.0 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 793.5 726.3 667.9 687.6 694.8 707.8 726.8 720.6 706.8 707.8 717.5 9

 10 Investment in foreign banking offices 276.6 203.1 171.6 137.8 126.0 123.5 142.9 142.1 118.7 123.5 123.9 10

 11 Investment in brokers and dealers 516.9 523.2 496.4 549.7 568.8 584.3 583.9 578.5 588.1 584.3 593.6 11

 12 Total liabilities 2686.9 2236.9 2120.1 2048.3 2077.2 2022.9 2102.7 2057.2 2058.1 2022.9 2049.9 12

 13 Credit market instruments 1252.8 816.8 704.2 651.8 593.5 620.5 625.2 619.9 612.2 620.5 642.8 13

 14 Open market paper 388.0 261.7 167.1 94.3 29.0 45.2 51.7 52.1 29.1 45.2 62.4 14

 15 Corporate bonds 419.9 457.8 454.6 526.2 561.5 572.9 571.0 565.4 580.8 572.9 578.0 15

 16 Depository institution loans n.e.c. (3) 444.9 95.3 73.4 21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 0.0 2.0 9.2 9.8 3.0 2.4 2.5 2.4 2.4 2.4 2.4 17

 18 Miscellaneous liabilities 1434.1 1420.2 1415.9 1396.5 1483.7 1402.3 1477.5 1437.3 1445.9 1402.3 1407.1 18

 19 Foreign direct investment in U.S. 10.2 10.8 11.4 12.0 12.6 13.2 12.8 12.9 13.1 13.2 13.4 19

 20 Securities loaned (net) 887.0 856.8 733.4 658.7 579.5 673.5 638.6 713.2 702.3 673.5 638.8 20

 21 Equity interest under PPIP 0.0 1.8 7.7 8.8 8.7 8.7 8.7 8.7 8.7 8.7 8.7 21

 22 Other (net) 536.8 550.7 663.4 717.0 882.8 706.9 817.4 702.5 721.9 706.9 746.3 22

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP.
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L.200 U.S. Official Reserve Assets and SDR Allocations (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 74.2 175.1 175.8 183.8 181.8 174.3 175.5 174.5 177.3 174.3 174.2 1

 2 Federal government: SDR allocations 7.5 55.4 54.4 54.2 54.3 54.4 52.9 53.1 54.2 54.4 54.6 2

 3 Rest of the world 66.6 119.7 121.4 129.6 127.5 119.9 122.5 121.4 123.1 119.9 119.6 3

 4 SDR holdings 9.3 57.8 56.8 55.0 55.1 55.2 53.7 53.9 55.0 55.2 55.4 4

 5 Reserve position in IMF (net) 7.7 11.4 12.5 22.8 22.6 17.2 21.3 20.6 19.8 17.2 16.2 5

 6 Foreign currency holdings 49.6 50.5 52.1 51.9 49.9 47.6 47.5 46.9 48.3 47.6 48.0 6

 7 Total assets 85.2 186.1 186.8 194.9 192.8 185.4 186.5 185.5 188.3 185.4 185.2 7

 8 Federal government 41.9 94.6 95.4 103.9 102.8 96.4 99.0 98.2 99.2 96.4 95.8 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings 9.3 57.8 56.8 55.0 55.1 55.2 53.7 53.9 55.0 55.2 55.4 10

 11 Reserve position in IMF (net) 7.8 11.5 12.6 23.0 22.8 17.4 21.5 20.8 20.1 17.4 16.4 11

 12 Foreign currency holdings 24.8 25.2 26.0 25.8 24.9 23.8 23.8 23.4 24.1 23.8 24.0 12

 13 Rest of the world: SDR allocations 7.5 55.4 54.4 54.2 54.3 54.4 52.9 53.1 54.2 54.4 54.6 13

 14 Monetary authority 35.7 36.2 37.0 36.8 35.8 34.6 34.5 34.3 35.0 34.6 34.8 14

 15 Monetary gold (2) 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

 16 Reserve position in IMF (net) -0.1 -0.1 -0.1 -0.3 -0.2 -0.2 -0.3 -0.3 -0.2 -0.2 -0.2 16

 17 Foreign currency holdings 24.8 25.3 26.1 26.0 25.0 23.8 23.7 23.5 24.2 23.8 24.0 17

 18 Discrepancy: monetary gold -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

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

 SDR certificates:

 1 Liab: Federal government 2.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 1

 2 Asset: Monetary authority 2.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 2

 Treasury currency:

 3 Liab: Federal government 26.6 26.2 25.9 25.9 25.9 25.6 25.9 25.9 25.6 25.6 25.6 3

 4 Asset: Monetary authority 38.7 42.7 43.5 44.2 44.8 45.5 45.0 45.1 45.3 45.5 45.7 4

 5 Discrepancy (seigniorage) -12.1 -16.5 -17.6 -18.3 -18.8 -19.9 -19.0 -19.2 -19.8 -19.9 -20.2 5

L.202 U.S. Deposits in Foreign Countries

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

 1 Total rest of the world liability 946.7 835.9 826.6 780.3 750.1 805.9 774.3 853.1 848.1 805.9 766.0 1

 Held by:

 2 Household sector 56.9 50.2 49.7 46.9 45.1 48.4 46.5 51.3 51.0 48.4 43.6 2

 3 Nonfinancial corporate business 24.7 31.5 40.6 34.8 35.8 80.6 47.6 61.7 64.9 80.6 64.5 3

 4 Money market mutual funds 85.6 97.1 105.9 42.9 43.3 33.7 48.7 37.1 36.3 33.7 19.4 4

 5 Discrepancy--unallocated assets 779.5 657.0 630.4 655.6 625.9 643.2 631.5 703.1 695.9 643.2 638.5 5
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L.203 Net Interbank Transactions

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 1752.4 1215.5 1068.5 1889.0 1683.8 2790.8 2096.9 2580.5 2767.7 2790.8 2996.2 1

 2 Monetary authority 917.7 1031.9 1020.8 1623.1 1562.1 2322.7 1850.0 2073.5 2294.6 2322.7 2509.2 2

 3 U.S.-chartered depository institutions 1130.1 633.7 428.3 164.9 36.7 227.3 96.6 135.4 191.0 227.3 212.4 3

 4 Foreign banking offices in U.S. -225.6 -377.8 -347.1 157.5 155.6 309.0 219.7 438.6 351.6 309.0 346.3 4

 5 Banks in U.S.-affiliated areas -3.2 -4.2 -3.3 -4.6 -4.9 -4.7 -4.6 -5.3 -5.0 -4.7 -5.5 5

 6 Credit unions -66.6 -68.1 -30.0 -51.9 -65.7 -63.5 -64.7 -61.8 -64.5 -63.5 -66.1 6

 7 Total assets 1763.8 1212.4 1043.8 1860.7 1663.8 2714.0 2047.0 2553.9 2734.8 2714.0 2949.1 7

 8 Rest of the world 287.9 86.0 24.2 238.1 102.1 392.2 197.6 481.0 440.6 392.2 440.4 8

 9 Monetary authority 558.2 94.5 -1.2 -0.4 -0.4 -0.9 -0.6 -0.6 -0.4 -0.9 -0.5 9

 10 U.S.-chartered depository institutions 674.8 716.3 628.5 859.5 869.6 1326.5 1040.7 1061.4 1284.6 1326.5 1376.1 10

 11 Foreign banking offices in U.S. 239.0 284.1 350.8 711.0 638.8 948.1 741.3 959.6 963.5 948.1 1071.1 11

 12 Credit unions 4.0 31.5 41.5 52.6 53.8 48.1 68.0 52.5 46.4 48.1 62.0 12

 13 Discrepancy -11.4 3.0 24.8 28.3 20.1 76.9 49.9 26.6 32.9 76.9 47.1 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 57.7 54.9 52.7 60.8 71.1 73.6 59.6 60.2 62.2 73.6 64.9 14

 15 Asset: U.S.-chartered depository institutions 57.7 54.9 52.7 60.8 71.1 73.6 59.6 60.2 62.2 73.6 64.8 15

 16 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 16

 Depository institution reserves:

 17 Liab.: Monetary authority 860.0 977.0 968.1 1562.3 1491.0 2249.1 1790.4 2013.3 2232.4 2249.1 2444.3 17

 18 Asset: U.S.-chartered depository institutions 617.0 661.4 575.8 798.7 798.5 1252.9 981.1 1001.2 1222.5 1252.9 1311.3 18

 19 Foreign banking offices in U.S. 239.0 284.1 350.8 711.0 638.8 948.0 741.3 959.6 963.5 948.0 1071.0 19

 20 Credit unions 4.0 31.5 41.5 52.6 53.8 48.1 68.0 52.5 46.4 48.1 62.0 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions 558.2 94.5 -1.2 -0.4 -0.4 -0.9 -0.6 -0.6 -0.4 -0.9 -0.5 21

 22 Asset: Monetary authority 558.2 94.5 -1.2 -0.4 -0.4 -0.9 -0.6 -0.6 -0.4 -0.9 -0.5 22

 23 Federal Reserve float -1.5 -2.1 -1.4 -0.6 -0.5 -1.0 -0.6 -0.7 -0.6 -1.0 -0.5 23

 24 Loans to member banks 559.7 96.6 0.2 0.2 0.1 0.1 0.0 0.1 0.2 0.1 0.0 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) 552.1 498.6 420.1 110.9 23.0 176.1 78.1 128.4 162.0 176.1 190.1 25

 26 Due to foreign affiliates 853.5 803.3 824.8 602.6 403.6 506.8 415.6 421.1 433.1 506.8 500.1 26

 27 - Due from foreign affiliates 301.4 304.7 404.6 491.7 380.6 330.7 337.5 292.7 271.1 330.7 310.0 27

 28 Foreign banking offices in U.S. (net) -263.6 -413.2 -376.1 135.9 84.3 220.6 123.6 358.0 278.6 220.6 252.9 28

 29 Due to foreign affiliates 812.9 787.3 841.2 1137.9 1047.9 1168.6 1061.0 1258.1 1153.6 1168.6 1184.1 29

 30 - Due from foreign affiliates 1076.5 1200.5 1217.3 1002.0 963.6 948.0 937.4 900.1 875.0 948.0 931.3 30

 31 Less: Deposits at foreign banks 31.3 21.7 35.3 22.9 20.3 20.0 19.9 20.2 18.3 20.0 20.5 31

 32 U.S.-chartered depository institutions 26.7 11.3 18.2 14.3 11.0 11.5 11.5 12.1 11.3 11.5 12.5 32

 33 Foreign banking offices in U.S. 4.7 10.4 17.0 8.6 9.3 8.5 8.4 8.1 7.0 8.5 8.0 33

 34 Plus: Loans from foreign banks 30.7 22.3 15.5 14.2 15.1 15.5 15.7 14.8 18.2 15.5 18.0 34

 35 U.S.-chartered depository institutions 11.7 9.7 6.3 6.7 6.4 6.4 6.7 7.3 7.6 6.4 6.8 35

 36 Foreign banking offices in U.S. 19.0 12.6 9.2 7.5 8.6 9.1 9.0 7.4 10.7 9.1 11.3 36

 37 Asset: Rest of the world (1) 287.9 86.0 24.2 238.1 102.1 392.2 197.6 481.0 440.6 392.2 440.4 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) 34.7 42.2 21.3 62.1 18.7 57.2 23.8 12.4 33.1 57.2 28.6 38

 39 Due to (3): 111.1 109.3 91.2 112.9 122.0 174.1 145.8 125.1 152.4 174.1 152.7 39

 40 Foreign banking offices in U.S. 52.7 33.9 33.1 28.2 31.3 29.0 26.5 31.5 50.0 29.0 34.0 40

 41 Banks in U.S.-affiliated areas 3.2 4.2 3.3 4.6 4.9 4.7 4.6 5.3 5.0 4.7 5.5 41

 42 Credit unions 66.6 68.1 30.0 51.9 65.7 63.5 64.7 61.8 64.5 63.5 66.1 42

 43 - Due from: Foreign banking offices in U.S. 76.3 67.0 69.9 50.8 103.3 116.9 122.0 112.6 119.3 116.9 124.2 43

 44 Unallocated (2) -11.4 3.0 24.8 28.3 20.1 76.9 49.9 26.6 32.9 76.9 47.1 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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L.204 Checkable Deposits and Currency

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2101.3 2093.4 2359.8 2594.3 2853.8 3186.5 2872.9 2892.3 2924.6 3186.5 3185.6 1

 2 Monetary authority 1220.3 1102.7 1287.8 1165.7 1224.6 1364.1 1226.1 1298.1 1266.5 1364.1 1364.3 2

 3 Federal government cash and deposits 365.7 191.9 340.9 85.9 92.9 162.6 79.4 135.0 88.6 162.6 142.5 3

 4 Due to government-sponsored enterprises 21.1 35.1 13.5 64.6 27.2 25.9 20.2 19.5 24.1 25.9 10.8 4

 5 Deposits due to foreign 1.4 2.4 3.4 0.2 6.5 8.0 9.2 10.1 9.0 8.0 7.0 5

 6 Currency outside banks 832.2 873.3 930.0 1015.0 1098.1 1167.6 1117.3 1133.6 1144.9 1167.6 1204.0 6

 7 U.S.-chartered depository institutions 777.5 871.6 941.1 1260.5 1431.7 1579.8 1436.6 1372.9 1429.1 1579.8 1559.4 7

 8 Federal government deposits 3.5 3.8 3.6 1.0 1.3 1.6 1.5 1.3 1.3 1.6 1.7 8

 9 Deposits due to foreign 62.9 34.3 30.4 56.1 52.0 49.9 46.3 40.5 49.5 49.9 50.0 9

 10 Private domestic deposits 711.1 833.5 907.0 1203.5 1378.4 1528.3 1388.8 1331.0 1378.4 1528.3 1507.7 10

 11 Foreign banking offices in U.S. 13.5 16.1 21.9 45.6 61.8 92.6 63.7 73.4 82.0 92.6 101.5 11

 12 Deposits due to foreign 4.7 10.5 14.6 19.0 27.9 40.2 28.5 32.3 34.2 40.2 44.3 12

 13 Private domestic deposits 8.8 5.6 7.3 26.6 33.9 52.4 35.1 41.2 47.9 52.4 57.2 13

 14 Banks in U.S.-affiliated areas 14.6 16.1 16.6 19.4 21.9 28.2 22.1 26.3 27.7 28.2 27.3 14

 15 Credit unions 75.3 86.9 92.4 103.1 113.9 121.7 124.5 121.7 119.3 121.7 133.1 15

 16 Total assets 2101.3 2093.4 2359.8 2594.3 2853.8 3186.5 2872.9 2892.3 2924.6 3186.5 3185.6 16

 17 Household sector 294.9 396.0 423.6 752.0 897.8 1004.7 919.7 898.1 884.8 1004.7 1096.7 17

 18 Nonfinancial business 603.6 689.3 766.1 793.5 823.2 927.4 842.6 822.7 869.6 927.4 861.4 18

 19 Corporate 84.2 155.0 234.6 264.3 279.4 374.0 298.8 275.6 319.5 374.0 306.7 19

 20 Noncorporate 519.4 534.3 531.5 529.1 543.8 553.4 543.9 547.1 550.1 553.4 554.8 20

 21 State and local governments 79.8 99.0 104.7 121.5 117.8 124.3 115.1 112.4 116.0 124.3 121.0 21

 22 Federal government 368.0 193.6 342.1 84.3 92.0 162.9 79.4 135.2 88.5 162.9 142.4 22

 23 Rest of the world 370.1 361.0 390.5 472.3 540.6 590.0 543.2 551.5 573.9 590.0 618.4 23

 24 Checkable deposits 69.0 47.2 48.4 75.2 86.3 98.1 84.0 82.9 92.6 98.1 101.3 24

 25 Currency 301.1 313.8 342.1 397.1 454.2 491.9 459.2 468.7 481.3 491.9 517.1 25

 26 Financial sectors 378.4 348.2 327.1 364.2 375.4 372.0 368.0 367.4 385.8 372.0 339.4 26

 27 Property-casualty insurance companies 27.9 27.6 32.6 24.1 36.4 29.7 31.7 30.6 30.6 29.7 33.6 27

 28 Life insurance companies 82.8 50.7 51.7 53.7 56.4 47.2 56.3 45.5 53.5 47.2 50.2 28

 29 Private pension funds 13.4 10.4 12.6 18.3 18.0 17.5 18.0 18.4 18.1 17.5 17.7 29

 30 State and local govt. retirement funds 3.6 3.6 4.1 4.3 4.2 5.0 4.3 4.4 4.5 5.0 5.4 30

 31 Money market mutual funds 7.5 17.9 14.2 20.1 16.5 13.3 10.9 27.5 11.0 13.3 15.5 31

 32 Government-sponsored enterprises 88.3 99.4 63.4 72.7 52.6 81.6 64.1 51.7 77.4 81.6 45.4 32

 33 Finance companies 16.5 17.0 26.5 31.7 27.8 32.1 30.2 30.0 34.2 32.1 33.3 33

 34 REITs 18.4 30.9 25.1 27.6 35.3 34.0 40.9 37.5 39.9 34.0 32.9 34

 35 Brokers and dealers 120.1 90.7 96.9 111.8 128.2 111.7 111.6 121.8 116.8 111.7 105.4 35

 36 Mail float 6.4 6.3 5.7 6.5 7.2 5.1 4.8 5.1 5.9 5.1 6.2 36
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L.205 Time and Savings Deposits 

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 8088.8 8432.5 8548.1 8952.2 9463.7 9872.9 9521.6 9572.5 9789.7 9872.9 10075.6 1

 2 Small time and savings deposits 5749.3 6326.5 6624.9 7202.2 7803.9 8110.8 7869.1 7890.1 8052.9 8110.8 8265.0 2

 3 U.S.-chartered depository institutions 5144.6 5617.0 5888.6 6425.7 6979.2 7236.0 7018.6 7033.2 7183.1 7236.0 7374.9 3

 4 Foreign banking offices in U.S. 25.6 29.9 35.7 48.9 62.7 90.4 67.9 70.6 85.9 90.4 84.7 4

 5 Banks in U.S.-affiliated areas 27.4 24.5 19.3 18.9 18.8 21.4 19.1 20.6 21.7 21.4 20.7 5

 6 Credit unions 551.7 655.2 681.3 708.7 743.1 763.1 763.4 765.7 762.2 763.1 784.7 6

 7 Large time deposits (1) 2339.5 2105.9 1923.2 1750.0 1659.9 1762.0 1652.5 1682.4 1736.8 1762.0 1810.6 7

 8 U.S.-chartered depository institutions 1365.6 1029.9 896.1 882.9 803.0 826.9 777.6 804.4 799.3 826.9 815.5 8

 9 Foreign banking offices in U.S. 876.2 1024.2 977.7 814.6 798.4 869.5 814.4 816.0 872.4 869.5 927.8 9

 10 Banks in U.S.-affiliated areas 27.4 24.5 19.3 18.9 18.8 21.4 19.1 20.6 21.7 21.4 20.7 10

 11 Credit unions 70.4 27.3 30.1 33.5 39.7 44.3 41.3 41.4 43.4 44.3 46.6 11

 12 Total assets 8088.8 8432.5 8548.1 8952.2 9463.7 9872.9 9521.6 9572.5 9789.7 9872.9 10075.6 12

 13 Household sector 6239.3 6330.8 6455.9 6827.7 7191.2 7388.7 7238.7 7248.8 7333.4 7388.7 7551.6 13

 14 Nonfinancial business 670.0 842.1 905.0 922.1 964.0 1031.6 973.8 991.7 1030.7 1031.6 1044.7 14

 15 Corporate 311.9 488.8 548.7 561.9 598.8 657.3 607.9 623.0 659.3 657.3 668.9 15

 16 Noncorporate 358.1 353.3 356.2 360.1 365.2 374.3 365.8 368.7 371.4 374.3 375.8 16

 17 State and local governments 238.3 248.0 241.6 256.8 289.8 302.5 293.9 292.1 299.7 302.5 307.7 17

 18 Federal government 1.6 1.9 2.0 1.7 2.0 1.5 1.6 1.8 1.9 1.5 1.5 18

 19 Rest of the world 366.7 293.5 302.5 349.7 386.8 435.5 385.8 392.3 412.8 435.5 447.2 19

 20 Financial sectors 573.0 716.2 641.2 594.2 629.8 713.0 627.8 645.8 711.2 713.0 722.9 20

 21 Private pension funds 30.2 33.0 32.1 33.4 31.6 31.1 31.6 31.2 31.0 31.1 31.5 21

 22 State and local govt. retirement funds 27.5 28.7 34.6 37.4 37.1 44.8 38.4 39.0 40.0 44.8 47.7 22

 23 Money market mutual funds 396.8 566.6 458.9 402.7 435.4 494.9 429.2 444.3 494.4 494.9 493.4 23

 24 Government-sponsored enterprises 68.5 25.7 26.1 13.4 4.3 5.4 3.6 4.8 7.5 5.4 7.9 24

 25 Finance companies 49.4 51.0 79.6 95.0 83.5 96.2 90.5 90.0 102.5 96.2 99.9 25

 26 Holding companies 0.7 11.2 10.0 12.4 37.8 40.7 34.4 36.4 35.8 40.7 42.5 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares

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

 1 Total assets 3757.3 3258.6 2755.4 2642.5 2649.6 2678.3 2552.1 2541.9 2637.4 2678.3 2591.5 1

 2 Household sector 1580.9 1313.0 1130.2 1110.2 1107.4 1130.4 1055.7 1048.3 1089.9 1130.4 1091.1 2

 3 Nonfinancial corporate business 727.0 655.5 497.8 462.4 480.6 521.1 476.0 473.1 504.0 521.1 497.1 3

 4 Nonfinancial noncorporate business 75.4 73.7 76.8 77.7 78.8 80.7 78.9 79.5 80.1 80.7 81.0 4

 5 State and local governments 125.7 135.5 149.2 152.6 158.0 162.9 161.7 164.2 163.3 162.9 164.8 5

 6 Rest of the world 69.7 76.9 69.8 79.5 99.7 164.0 102.1 152.9 156.8 164.0 163.8 6

 7 Property-casualty insurance companies 32.8 29.6 25.6 20.0 22.3 20.0 21.3 18.1 18.1 20.0 18.4 7

 8 Life insurance companies 39.2 33.7 21.0 28.8 27.5 21.6 20.6 19.1 21.6 21.6 20.3 8

 9 Private pension funds 156.2 147.4 137.3 154.1 150.2 148.7 150.1 149.6 148.1 148.7 147.0 9

 10 State and local govt. retirement funds 44.6 41.2 43.5 42.2 39.1 47.2 40.4 41.1 42.1 47.2 50.2 10

 11 Funding corporations 905.8 752.1 604.1 514.9 486.1 381.6 445.3 396.1 413.4 381.6 357.7 11
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L.207 Federal Funds and Security Repurchase Agreements

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 3661.8 3251.3 3666.0 3922.0 4172.7 3670.3 4008.0 3846.5 3781.7 3670.3 3707.4 1

 2 Rest of the world 508.4 530.5 731.8 808.0 847.7 738.9 830.1 790.1 802.4 738.9 793.3 2

 3 Monetary authority 88.4 77.7 59.7 99.9 107.2 315.9 105.5 95.2 157.4 315.9 341.0 3

 4 U.S.-chartered depository institutions 727.2 532.1 484.0 402.5 349.9 265.2 327.3 325.1 301.3 265.2 267.2 4

 5 Foreign banking offices in U.S. 131.7 195.2 250.0 304.4 325.0 312.7 323.6 310.0 306.7 312.7 356.5 5

 6 Credit unions 2.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Property-casualty insurance companies 2.4 0.6 1.5 0.4 0.8 2.2 1.1 1.4 1.8 2.2 2.8 7

 8 Life insurance companies 12.9 12.4 10.3 10.4 13.5 12.7 13.7 13.8 13.4 12.7 11.7 8

 9 Government-sponsored enterprises 1.3 1.2 1.3 0.4 0.0 0.0 0.2 0.0 0.0 0.0 0.0 9

 10 REITs 79.4 90.5 120.4 218.1 320.6 254.0 322.0 309.8 288.8 254.0 242.2 10

 11 Brokers and dealers 2107.2 1810.4 2006.3 2076.7 2207.9 1768.6 2084.7 2001.0 1909.9 1768.6 1692.8 11

 12 Holding companies 0.7 0.6 0.8 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Total assets 3573.4 3040.7 3395.8 3637.8 4016.4 3700.6 3913.6 3780.8 3770.7 3700.6 3722.9 13

 14 Nonfinancial corporate business 7.2 7.9 12.1 12.6 9.7 8.8 9.3 8.7 12.5 8.8 10.6 14

 15 State and local governments 129.8 125.5 124.1 120.5 125.2 129.6 128.2 130.4 129.8 129.6 131.2 15

 16 Rest of the world 623.3 561.5 635.8 763.1 765.7 822.0 821.1 791.8 794.4 822.0 870.0 16

 17 Monetary authority 80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 U.S.-chartered depository institutions 575.1 266.9 267.6 242.6 303.7 215.7 259.6 238.0 218.0 215.7 215.7 18

 19 Foreign banking offices in U.S. 68.1 68.2 88.4 120.1 178.3 177.1 178.7 181.1 199.3 177.1 200.3 19

 20 Credit unions 0.1 0.1 0.0 15.9 9.7 0.1 0.4 0.2 0.1 0.1 0.2 20

 21 Property-casualty insurance companies 4.4 4.5 3.8 1.7 1.8 1.8 1.7 1.5 1.5 1.8 1.6 21

 22 Life insurance companies 8.0 10.2 10.9 10.1 8.5 8.5 6.8 6.6 8.0 8.5 6.6 22

 23 Private pension funds 2.8 2.9 2.7 2.7 2.6 2.5 2.6 2.5 2.5 2.5 2.6 23

 24 State and local govt. retirement funds 3.1 3.0 3.4 3.4 3.3 3.9 3.4 3.4 3.5 3.9 4.2 24

 25 Money market mutual funds 542.4 480.0 479.4 490.5 544.7 493.0 470.3 450.4 489.1 493.0 506.2 25

 26 Mutual funds 124.7 153.3 137.5 108.7 262.7 355.7 307.9 328.2 354.0 355.7 370.6 26

 27 Government-sponsored enterprises 115.8 123.3 151.2 112.3 150.8 152.3 193.6 151.3 133.4 152.3 127.3 27

 28 Brokers and dealers 1288.4 1185.0 1428.5 1583.1 1638.2 1321.0 1518.5 1478.9 1413.9 1321.0 1267.5 28

 29 Holding companies 0.3 48.2 50.3 50.5 11.5 8.7 11.3 7.8 10.7 8.7 8.6 29

 30 Funding corporations 0.0 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Discrepancy 88.5 210.6 270.2 284.2 156.2 -30.3 94.5 65.7 10.9 -30.3 -15.5 31
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L.208 Open Market Paper

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total outstanding, all types 1599.8 1138.0 1057.6 969.3 952.4 951.6 1001.2 990.6 976.9 951.6 992.2 1

 2 Commercial paper 1599.3 1137.4 1057.5 969.2 952.4 951.6 1001.2 990.6 976.9 951.6 992.2 2

 3 Nonfinancial corporate business 131.5 58.4 82.9 116.3 130.3 144.5 140.1 147.2 171.2 144.5 180.2 3

 4 Foreign issues in U.S. 342.0 401.3 398.6 345.1 373.0 407.0 407.4 417.4 405.9 407.0 413.8 4

 5 Nonfinancial 49.7 34.5 30.6 30.2 40.4 51.6 34.4 51.2 57.5 51.6 49.6 5

 6 Financial 292.3 366.8 368.0 314.9 332.6 355.4 373.0 366.2 348.4 355.4 364.3 6

 7 Financial business 1125.8 677.6 575.9 507.8 449.1 400.2 453.8 426.0 399.9 400.2 398.2 7

 8 U.S.-chartered depository institutions 0.0 0.0 112.9 120.6 87.5 59.7 74.4 64.2 57.3 59.7 58.4 8

 9 ABS issuers 559.3 293.1 120.2 96.0 87.0 79.9 88.0 79.6 79.2 79.9 73.7 9

 10 Finance companies 100.9 62.1 111.0 121.0 129.1 118.8 121.8 119.6 124.9 118.8 114.0 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 77.7 60.8 64.7 75.9 116.4 96.6 117.7 110.6 109.4 96.6 89.7 12

 13 Funding corporations 388.0 261.7 167.1 94.3 29.0 45.2 51.7 52.1 29.1 45.2 62.4 13

 14 Bankers’ acceptances (1) 0.5 0.6 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions 0.5 0.6 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 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 16

 17 Holdings, by sector 1599.8 1138.0 1057.6 969.3 952.4 951.6 1001.2 990.6 976.9 951.6 992.2 17

 18 Household sector 6.0 22.7 21.1 19.4 18.8 15.0 18.0 17.8 17.6 15.0 14.3 18

 19 Nonfinancial corporate business 57.3 56.0 68.0 67.9 59.8 30.3 56.2 50.2 42.0 30.3 32.9 19

 20 State and local governments 127.5 88.4 101.4 90.2 83.0 75.2 82.4 81.1 78.0 75.2 73.6 20

 21 Rest of the world 232.9 191.5 191.0 191.7 195.2 197.2 203.9 200.2 187.3 197.2 199.5 21

 22 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 U.S.-chartered depository institutions (1) 15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Property-casualty insurance companies 19.1 9.8 7.9 8.8 7.4 8.0 7.4 6.6 6.9 8.0 7.7 26

 27 Life insurance companies 38.3 49.8 40.9 29.7 43.6 46.7 39.3 39.7 44.4 46.7 44.7 27

 28 Private pension funds 44.3 45.3 42.6 44.7 42.0 38.0 42.4 41.8 40.1 38.0 39.3 28

 29 State and local govt. retirement funds 31.7 32.3 38.0 40.3 39.6 47.9 41.0 41.7 42.7 47.9 50.9 29

 30 Money market mutual funds 618.5 510.5 394.2 354.2 340.8 352.1 350.6 356.6 357.9 352.1 354.3 30

 31 Mutual funds 51.6 80.2 66.3 40.0 77.5 105.2 98.5 100.7 104.6 105.2 110.1 31

 32 Government-sponsored enterprises 6.8 9.7 9.9 6.5 3.4 4.4 4.2 4.3 5.0 4.4 4.8 32

 33 Brokers and dealers 65.7 41.5 36.2 42.1 29.9 28.7 30.0 29.4 31.0 28.7 28.2 33

 34 Funding corporations 284.4 0.1 40.0 33.8 11.4 2.9 27.3 20.7 19.3 2.9 31.9 34

(1) Excludes banks’ holdings of own acceptances.
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L.209 Treasury Securities

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 6338.2 7781.9 9361.5 10428.3 11568.9 12328.3 11905.5 11887.9 11956.8 12328.3 12590.8 1

 2 U.S. savings securities (1) 194.1 191.3 188.0 185.3 182.5 179.2 181.8 181.0 180.0 179.2 178.4 2

 3 Treasury bills 1861.2 1787.9 1768.9 1519.5 1626.5 1590.6 1788.2 1568.1 1527.9 1590.6 1650.2 3

 4 Other Treasury securities 4282.9 5802.7 7404.6 8723.6 9759.9 10558.5 9935.5 10138.9 10248.8 10558.5 10762.2 4

 5 Total assets 6338.2 7781.9 9361.5 10428.3 11568.9 12328.3 11905.5 11887.9 11956.8 12328.3 12590.8 5

 6 Household sector 188.7 859.7 1134.4 715.6 941.0 935.4 966.2 1009.0 980.8 935.4 841.2 6

 7 U.S. savings securities (1) 194.1 191.3 188.0 185.3 182.5 179.2 181.8 181.0 180.0 179.2 178.4 7

 8 Bills and other Treasury securities -5.4 668.4 946.4 530.3 758.5 756.2 784.4 828.1 800.8 756.2 662.9 8

 9 Nonfinancial corporate business 30.5 43.0 48.0 43.0 39.5 40.3 33.1 38.2 38.5 40.3 38.0 9

 10 Nonfinancial noncorporate business 51.8 46.1 48.1 48.6 49.3 50.5 49.4 49.7 50.1 50.5 50.7 10

 11 State and local governments 601.4 584.0 590.8 558.1 597.3 583.0 606.0 613.8 584.0 583.0 579.9 11

 12 Rest of the world 3253.0 3670.6 4458.8 5006.9 5573.8 5803.8 5721.8 5594.4 5654.7 5803.8 5960.1 12

 13 Treasury bills 758.0 750.4 710.3 647.7 664.0 686.0 723.9 675.4 645.0 686.0 688.9 13

 14 Other Treasury securities 2495.0 2920.2 3748.5 4359.2 4909.8 5117.7 4997.9 4919.0 5009.6 5117.7 5271.2 14

 15 Monetary authority 475.9 776.6 1021.5 1663.4 1666.1 2208.8 1796.0 1936.6 2072.3 2208.8 2319.6 15

 16 Treasury bills 18.4 18.4 18.4 18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other Treasury securities 457.5 758.2 1003.1 1645.0 1666.1 2208.8 1796.0 1936.6 2072.3 2208.8 2319.6 17

 18 U.S.-chartered depository institutions 56.4 124.5 217.5 173.9 243.2 217.1 230.3 194.0 186.6 217.1 263.8 18

 19 Foreign banking offices in U.S. 35.5 57.5 60.9 60.5 76.6 67.0 79.5 66.9 69.3 67.0 66.3 19

 20 Banks in U.S.-affiliated areas 1.2 0.5 1.1 1.0 0.4 1.2 0.4 0.4 0.6 1.2 1.3 20

 21 Credit unions 8.8 14.2 20.1 17.6 19.3 19.1 19.2 20.1 19.6 19.1 20.0 21

 22 Property-casualty insurance companies 65.6 88.5 91.7 96.4 89.7 95.7 90.5 89.5 91.3 95.7 96.2 22

 23 Treasury bills 10.8 15.8 15.5 17.4 14.1 23.5 15.7 15.6 18.3 23.5 23.2 23

 24 Other Treasury securities 54.8 72.8 76.2 78.9 75.6 72.1 74.8 73.9 73.1 72.1 73.0 24

 25 Life insurance companies 105.7 133.5 156.6 175.4 180.9 171.6 176.7 174.4 172.8 171.6 174.6 25

 26 Treasury bills 20.1 13.9 10.2 14.0 9.5 6.7 6.9 6.2 6.8 6.7 7.1 26

 27 Other Treasury securities 85.6 119.6 146.4 161.4 171.4 164.9 169.8 168.2 166.0 164.9 167.4 27

 28 Private pension funds 147.4 182.4 215.6 243.4 291.4 331.5 306.4 319.3 326.2 331.5 335.5 28

 29 State and local govt. retirement funds 129.5 151.4 159.3 168.5 187.3 203.4 191.6 199.3 202.4 203.4 205.8 29

 30 Federal government retirement funds 112.2 119.6 129.7 153.2 165.3 177.9 162.9 152.8 57.9 177.9 180.9 30

 31 Money market mutual funds 577.7 406.4 335.4 443.3 457.8 488.2 470.1 449.0 466.5 488.2 454.4 31

 32 Treasury bills 478.7 318.5 234.5 263.7 282.8 289.5 276.0 223.2 272.5 289.5 264.5 32

 33 Other Treasury securities 98.9 87.9 100.9 179.7 175.0 198.6 194.2 225.7 194.0 198.6 189.8 33

 34 Mutual funds 184.0 258.0 378.9 452.7 573.3 632.7 628.4 627.4 622.9 632.7 675.8 34

 35 Treasury bills 0.0 0.0 29.7 30.1 42.3 37.3 43.6 43.7 43.6 37.3 25.8 35

 36 Other Treasury securities 184.0 258.0 349.2 422.6 531.0 595.4 584.8 583.8 579.4 595.4 650.0 36

 37 Closed-end funds 3.2 4.4 5.1 4.8 5.2 5.7 5.7 5.8 5.8 5.7 5.8 37

 38 Exchange-traded funds 27.1 41.8 51.0 62.4 63.6 57.1 62.8 64.1 63.9 57.1 59.3 38

 39 Government-sponsored enterprises 16.8 36.6 82.6 100.2 69.0 59.1 74.6 75.5 82.6 59.1 65.2 39

 40 ABS issuers 72.2 53.9 40.1 29.2 23.4 24.3 20.5 21.2 22.9 24.3 25.0 40

 41 Brokers and dealers 190.6 123.0 94.5 183.6 246.5 136.0 202.6 165.6 166.3 136.0 152.8 41

 42 Holding companies 3.1 5.8 19.6 26.8 9.0 18.8 10.6 20.9 18.8 18.8 18.7 42

 Memo:

 43 Federal government debt (2) 6361.5 7805.4 9385.6 10453.6 11593.7 12352.8 11930.1 11912.9 11981.9 12352.8 12614.8 43

(1) Includes U.S. savings bonds, U.S. individual retirement bonds, U.S. retirement plan bonds, U.S. savings stamps, and matured U.S. savings securities.

(2) Total Treasury securities (line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 11).
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L.210 Agency- and GSE-Backed Securities (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 8166.7 8106.8 7598.2 7577.4 7554.6 7794.1 7590.8 7660.7 7713.6 7794.1 7721.1 1

 2 Budget agencies 23.3 23.5 24.2 25.3 24.9 24.5 24.6 25.0 25.1 24.5 24.0 2

 3 Government-sponsored enterprises 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 6103.5 6137.6 6147.7 6200.2 6111.4 3

 4 Agency- and GSE-backed mortgage pools 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 4

 5 Total assets 8166.7 8106.8 7598.2 7577.4 7554.6 7794.1 7590.8 7660.7 7713.6 7794.1 7721.1 5

 6 Household sector 1057.7 358.3 353.7 304.6 154.2 125.9 112.9 124.6 109.7 125.9 14.1 6

 7 Nonfinancial corporate business 10.2 14.3 16.0 14.3 13.2 8.4 6.0 7.7 7.8 8.4 7.7 7

 8 State and local governments 478.3 488.0 510.5 502.6 492.6 480.1 497.1 497.9 488.2 480.1 479.0 8

 9 Federal government 54.4 196.4 149.2 31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 1406.9 1154.9 1084.0 1080.6 1016.4 882.2 957.4 897.3 924.4 882.2 897.5 10

 11 Monetary authority 19.7 1068.3 1139.6 941.7 1003.4 1547.4 1143.4 1277.3 1402.7 1547.4 1650.5 11

 12 U.S.-chartered depository institutions 1242.5 1417.4 1527.2 1634.1 1669.6 1717.3 1710.5 1725.7 1700.4 1717.3 1731.0 12

 13 Foreign banking offices in U.S. 50.6 31.3 26.5 30.6 32.1 25.4 27.7 26.1 26.2 25.4 22.5 13

 14 Banks in U.S.-affiliated areas 24.4 20.5 12.8 4.8 2.6 1.9 2.4 2.2 1.9 1.9 1.8 14

 15 Credit unions 82.9 110.7 151.5 182.1 197.0 199.2 206.2 210.2 206.0 199.2 206.7 15

 16 Property-casualty insurance companies 114.3 116.2 115.8 122.7 114.3 108.7 113.0 111.6 110.2 108.7 106.4 16

 17 Life insurance companies 366.2 371.9 376.0 374.4 360.9 352.3 359.2 357.4 354.3 352.3 350.3 17

 18 Private pension funds 190.3 184.0 190.4 193.8 210.9 224.5 213.2 217.3 220.7 224.5 222.7 18

 19 State and local govt. retirement funds 161.9 158.7 159.8 172.9 194.3 207.9 198.3 205.2 206.9 207.9 206.3 19

 20 Federal government retirement funds 5.2 5.2 5.8 6.5 8.1 6.4 7.5 7.0 6.6 6.4 5.7 20

 21 Money market mutual funds 756.2 543.0 402.8 403.7 343.5 361.1 325.3 345.0 354.0 361.1 326.1 21

 22 Mutual funds 553.3 603.2 681.6 788.6 878.0 849.6 881.0 874.4 854.3 849.6 838.4 22

 23 Government-sponsored enterprises 910.0 924.5 377.0 358.9 310.6 287.9 300.6 292.5 294.7 287.9 283.5 23

 24 ABS issuers 323.7 99.6 3.6 0.3 0.3 0.1 0.2 0.1 0.1 0.1 0.1 24

 25 REITs 89.6 105.2 143.4 248.1 357.6 261.9 345.9 327.5 306.9 261.9 253.5 25

 26 Brokers and dealers 242.6 110.9 149.8 147.7 169.6 114.2 153.9 125.8 105.7 114.2 87.9 26

 27 Holding companies 25.8 24.3 21.1 33.1 25.2 31.7 29.1 27.8 32.0 31.7 29.6 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown in table L.209, line 41.
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L.211 Municipal Securities and Loans

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 3517.2 3672.5 3772.1 3719.4 3714.4 3671.2 3728.6 3721.1 3685.7 3671.2 3660.8 1

 2 State and local governments 2842.7 2954.9 3023.6 2970.0 2964.3 2924.9 2978.9 2970.4 2937.0 2924.9 2915.5 2

 3 Short-term (1) 55.8 63.6 63.0 52.3 56.1 45.3 54.5 39.4 46.0 45.3 43.0 3

 4 Long-term 2786.9 2891.3 2960.6 2917.6 2908.2 2879.6 2924.4 2931.0 2891.0 2879.6 2872.5 4

 5 Nonprofit organizations (2) 259.5 265.4 263.2 255.5 241.0 227.8 239.4 235.7 232.4 227.8 227.6 5

 6 Nonfinancial corporate business 415.0 452.2 485.4 493.9 509.1 518.5 510.4 515.0 516.4 518.5 517.7 6

 (industrial revenue bonds)

 7 Total assets 3517.2 3672.5 3772.1 3719.4 3714.4 3671.2 3728.6 3721.1 3685.7 3671.2 3660.8 7

 8 Household sector 1720.9 1828.1 1871.8 1808.3 1665.8 1626.3 1676.1 1670.0 1644.9 1626.3 1603.7 8

 9 Nonfinancial corporate business 26.2 27.1 23.9 22.3 24.0 11.6 14.5 14.5 14.7 11.6 14.0 9

 10 Nonfinancial noncorporate business 4.9 5.1 5.6 5.7 5.8 5.9 5.8 5.8 5.9 5.9 5.9 10

 11 State and local governments 10.4 11.4 12.8 13.1 13.4 13.6 13.6 13.8 13.7 13.6 13.7 11

 12 Rest of the world 51.0 58.7 71.7 70.3 67.9 69.6 66.5 69.4 71.6 69.6 74.1 12

 13 U.S.-chartered depository institutions 221.9 224.3 254.6 297.3 365.0 418.9 376.2 392.3 406.4 418.9 425.2 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Banks in U.S.-affiliated areas 2.5 3.5 2.5 3.4 2.6 3.6 2.7 2.7 3.5 3.6 3.4 15

 16 Credit unions 0.0 0.0 0.0 3.2 4.2 4.6 5.3 5.0 5.4 4.6 4.5 16

 17 Property-casualty insurance companies 381.9 369.4 348.4 331.0 328.1 325.8 327.8 327.4 326.8 325.8 326.7 17

 18 Life insurance companies 47.1 73.1 112.3 121.8 131.5 141.2 134.0 136.6 138.5 141.2 141.1 18

 19 State and local govt. retirement funds 1.3 1.4 2.1 1.4 0.5 0.4 0.4 0.4 0.3 0.4 0.4 19

 20 Money market mutual funds 509.5 440.1 386.7 357.3 336.7 308.3 312.5 309.6 305.1 308.3 296.4 20

 21 Mutual funds 389.4 478.8 525.5 541.2 627.4 613.9 646.6 641.0 620.7 613.9 621.1 21

 22 Closed-end funds 77.9 81.2 81.6 82.5 85.8 84.1 86.2 86.2 84.7 84.1 84.9 22

 23 Exchange-traded funds 2.3 5.9 7.6 8.6 12.3 11.4 13.0 12.5 11.5 11.4 11.8 23

 24 Government-sponsored enterprises 31.3 29.1 24.9 21.0 17.0 13.4 16.3 14.8 13.8 13.4 12.7 24

 25 Brokers and dealers 38.7 35.4 40.0 30.9 26.6 18.6 31.0 19.0 18.3 18.6 21.1 25

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
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L.212 Corporate and Foreign Bonds

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 11171.9 11672.1 11818.2 12127.8 12807.8 13356.5 12898.6 12863.8 13077.8 13356.5 13569.4 1

 2 Nonfinancial corporate business 3954.5 4366.2 4804.8 5215.6 5795.2 6435.5 5940.0 6082.7 6269.0 6435.5 6601.0 2

 3 Rest of the world (1) 1237.3 1570.3 1731.3 1939.9 2140.7 2204.1 2174.6 2087.0 2129.4 2204.1 2263.7 3

 4 Financial sectors 5980.2 5735.6 5282.0 4972.3 4871.9 4717.0 4784.0 4694.1 4679.4 4717.0 4704.8 4

 5 U.S.-chartered depository institutions 184.8 176.3 377.1 379.4 295.9 221.0 267.4 244.0 225.2 221.0 214.2 5

 6 ABS issuers (net) (2) 3544.0 2998.0 2114.9 1892.5 1681.9 1535.2 1627.8 1584.4 1553.2 1535.2 1507.1 6

 7 Finance companies 924.5 837.5 1078.2 1038.8 957.5 961.9 952.5 949.0 955.1 961.9 956.9 7

 8 REITs 171.0 144.4 145.4 152.9 179.6 218.0 182.4 189.0 197.7 218.0 225.6 8

 9 Brokers and dealers 97.1 92.9 129.7 91.8 90.2 112.4 89.1 103.1 96.1 112.4 115.7 9

 10 Holding companies 638.9 1028.7 982.2 890.6 1105.3 1095.6 1093.8 1059.2 1071.3 1095.6 1107.2 10

 11 Funding corporations 419.9 457.8 454.6 526.2 561.5 572.9 571.0 565.4 580.8 572.9 578.0 11

 12 Total assets (3) 11171.9 11672.1 11818.2 12127.8 12807.8 13356.5 12898.6 12863.8 13077.8 13356.5 13569.4 12

 13 Household sector 1946.5 2324.6 2248.3 2379.0 2468.8 2578.0 2394.8 2363.5 2409.4 2578.0 2626.2 13

 14 State and local governments 152.8 156.1 163.5 162.7 166.0 168.7 169.2 171.3 169.7 168.7 170.1 14

 15 Federal government 0.0 0.6 0.9 0.8 0.6 0.6 0.6 0.6 0.6 0.6 0.5 15

 16 Rest of the world (4) 2353.5 2465.3 2524.0 2484.0 2609.2 2718.9 2644.1 2570.5 2661.1 2718.9 2781.2 16

 17 MBS and other ABS 584.0 484.8 441.4 415.5 403.9 394.9 407.2 403.3 398.9 394.9 393.3 17

 18 Other 1769.5 1980.5 2082.6 2068.5 2205.3 2324.0 2236.9 2167.1 2262.2 2324.0 2387.9 18

 19 U.S.-chartered depository institutions 652.4 668.2 550.5 553.0 544.0 559.2 540.5 543.2 555.8 559.2 540.2 19

 20 MBS and other ABS 314.6 262.9 174.9 150.1 149.1 147.7 146.3 145.8 147.4 147.7 141.9 20

 21 Other 337.8 405.2 375.6 402.9 394.9 411.4 394.3 397.4 408.3 411.4 398.3 21

 22 Foreign banking offices in U.S. 405.4 247.6 238.2 236.7 230.5 196.4 211.9 202.8 203.1 196.4 200.5 22

 23 Banks in U.S.-affiliated areas 0.5 2.0 0.6 4.2 5.2 5.8 5.6 5.5 5.6 5.8 6.4 23

 24 Credit unions 28.9 22.3 6.6 6.3 6.7 8.9 7.8 8.5 8.6 8.9 9.5 24

 25 MBS and other ABS 3.3 3.6 6.1 5.9 6.6 8.7 7.6 8.3 8.4 8.7 9.3 25

 26 Other 25.7 18.6 0.5 0.4 0.1 0.2 0.2 0.2 0.2 0.2 0.2 26

 27 Property-casualty insurance companies 267.5 298.3 322.6 363.1 382.7 406.9 388.9 395.1 401.2 406.9 414.8 27

 28 MBS and other ABS 0.0 0.0 0.0 71.3 74.5 83.2 76.3 78.1 80.0 83.2 84.1 28

 29 Other 267.5 298.3 322.6 291.8 308.2 323.7 312.7 316.9 321.2 323.7 330.7 29

 30 Life insurance companies 1817.0 1927.2 2030.2 2117.3 2162.2 2219.8 2180.5 2196.7 2203.1 2219.8 2248.8 30

 31 MBS and other ABS 0.0 0.0 0.0 434.9 410.6 419.7 412.9 415.1 417.4 419.7 422.9 31

 32 Other 1817.0 1927.2 2030.2 1682.3 1751.6 1800.1 1767.6 1781.5 1785.7 1800.1 1825.9 32

 33 Private pension funds 374.6 360.0 443.4 488.0 440.7 438.5 430.7 432.6 435.8 438.5 435.0 33

 34 State and local govt. retirement funds 488.1 386.2 390.6 379.0 347.7 377.2 348.8 362.9 361.4 377.2 380.8 34

 35 Federal government retirement funds 5.8 5.7 5.9 7.3 9.0 7.7 8.5 8.0 8.0 7.7 6.9 35

 36 Money market mutual funds 228.0 169.9 154.2 105.1 102.1 102.1 102.8 90.7 89.1 102.1 88.7 36

 37 Mutual funds 956.2 1120.7 1243.0 1413.4 1719.4 1998.7 1816.6 1868.5 1947.3 1998.7 2076.3 37

 38 Closed-end funds 49.5 55.6 59.8 57.4 64.9 79.4 71.6 77.6 78.4 79.4 79.1 38

 39 Exchange-traded funds 27.7 55.4 74.1 107.7 155.3 174.8 162.3 164.9 170.4 174.8 183.2 39

 40 Government-sponsored enterprises 386.6 296.0 266.5 235.7 185.7 126.3 179.9 168.6 139.1 126.3 120.1 40

 41 MBS and other ABS 309.1 288.2 241.6 209.5 178.3 119.4 172.7 161.5 132.1 119.4 113.4 41

 42 Other 77.5 7.9 24.8 26.2 7.4 6.8 7.3 7.1 7.0 6.8 6.7 42

 43 Finance companies 192.4 198.6 84.1 85.0 78.7 67.9 75.0 70.1 70.0 67.9 71.8 43

 44 REITs 11.7 16.0 23.2 27.0 36.5 36.3 39.8 39.7 40.0 36.3 35.1 44

 45 Brokers and dealers 123.8 154.4 189.5 104.5 140.0 128.9 148.0 134.8 134.1 128.9 128.5 45

 46 Holding companies 35.8 31.1 38.3 18.3 79.9 35.7 80.3 79.8 78.0 35.7 33.8 46

 47 Funding corporations 667.3 710.2 760.1 792.4 871.9 920.0 890.2 908.0 908.3 920.0 931.7 47

(1) Holdings of foreign issues by U.S. residents.

(2) Liabilities net of assets.

(3) For some sectors, holdings of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately issued asset-backed bonds.

(4) Holdings of U.S. issues by foreign residents.
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L.213 Corporate Equities (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Issues at market value 15640.5 20085.5 23567.2 23088.3 26472.1 33950.9 29030.0 29560.2 31512.3 33950.9 34497.0 1

 2 Nonfinancial corporate business 10016.6 12512.2 14371.6 14501.0 16132.4 20952.4 17855.2 18178.3 19367.6 20952.4 21222.4 2

 3 Rest of the world (2) 2748.4 3995.3 4900.2 4501.4 5390.5 6511.5 5648.7 5632.1 6157.5 6511.5 6653.9 3

 4 Financial corporations 2875.4 3578.1 4295.4 4085.9 4949.1 6487.0 5526.2 5749.8 5987.3 6487.0 6620.7 4

 5 Holdings at market value 15640.5 20085.5 23567.2 23088.3 26472.1 33950.9 29030.0 29560.2 31512.3 33950.9 34497.0 5

 6 Household sector 5931.0 7496.1 8995.3 9025.4 10412.8 13309.6 11456.2 11686.6 12472.2 13309.6 13502.0 6

 7 State and local governments 90.8 111.4 125.7 124.4 138.4 165.0 149.4 152.6 156.9 165.0 167.2 7

 8 Federal government 188.7 67.4 49.9 57.8 39.9 35.1 38.6 37.9 35.3 35.1 34.9 8

 9 Rest of the world (3) 1807.1 2476.7 2962.2 3035.3 3467.6 4670.4 3903.2 4008.2 4276.3 4670.4 4840.1 9

 10 Monetary authority 0.0 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 U.S.-chartered depository institutions 20.4 48.6 59.7 54.5 71.3 101.3 80.8 79.9 87.7 101.3 102.6 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Property-casualty insurance companies 190.1 215.6 214.8 220.8 252.2 309.7 267.4 272.4 280.5 309.7 317.4 13

 14 Life insurance companies 1001.7 1208.5 1402.6 1390.2 1545.1 1794.4 1638.3 1662.5 1712.3 1794.4 1816.9 14

 15 Private pension funds 1380.4 1647.1 1938.3 1826.1 2041.6 2483.8 2205.9 2238.4 2346.2 2483.8 2517.3 15

 16 State and local govt. retirement funds 1277.0 1628.8 1793.6 1728.8 1926.9 2309.4 2089.7 2102.1 2185.3 2309.4 2294.5 16

 17 Federal government retirement funds 83.7 116.8 140.9 134.4 148.1 206.2 167.8 173.8 184.5 206.2 211.8 17

 18 Mutual funds 3014.1 4136.2 4762.7 4427.2 5107.0 6852.0 5611.2 5743.8 6246.2 6852.0 6940.3 18

 19 Closed-end funds 72.3 87.9 97.2 96.4 101.1 114.3 108.5 108.4 110.5 114.3 117.1 19

 20 Exchange-traded funds 474.0 670.0 854.1 863.8 1093.3 1427.3 1195.9 1172.2 1291.5 1427.3 1449.9 20

 21 Brokers and dealers 109.2 124.2 117.2 103.2 126.7 172.4 117.1 121.4 126.8 172.4 185.0 21

 22 Funding corporations 0.0 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

(1) Excludes mutual fund shares shown on table L.214.

(2) Holdings of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Holdings of U.S. issues by foreign residents.

L.214 Mutual Fund Shares (1)

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

 1 Shares at market value 5388.0 6920.7 7873.0 7870.9 9323.6 11544.6 10087.4 10299.5 10904.9 11544.6 11775.7 1

 2 Holdings at market value 5388.0 6920.7 7873.0 7870.9 9323.6 11544.6 10087.4 10299.5 10904.9 11544.6 11775.7 2

 3 Household sector 3306.7 4115.8 4600.2 4502.9 5408.7 6890.1 5898.3 6095.7 6501.9 6890.1 7058.9 3

 4 Nonfinancial corporate business 106.3 162.0 186.8 165.9 180.1 211.4 189.3 191.0 199.8 211.4 212.2 4

 5 State and local governments 36.2 48.3 58.1 58.9 66.1 79.8 71.8 73.4 75.7 79.8 80.9 5

 6 Rest of the world 255.6 364.1 513.8 735.6 987.1 1036.0 1010.1 965.9 990.2 1036.0 1034.3 6

 7 U.S.-chartered depository institutions 19.6 46.1 45.0 41.7 45.8 57.9 50.1 47.9 52.0 57.9 60.8 7

 8 Credit unions 2.0 1.3 1.5 1.9 2.3 2.2 2.6 2.4 2.2 2.2 2.2 8

 9 Property-casualty insurance companies 7.6 9.5 10.2 9.1 11.8 15.5 12.7 13.0 13.8 15.5 16.0 9

 10 Life insurance companies 121.0 140.8 155.7 150.1 159.3 184.8 167.6 168.8 175.9 184.8 185.6 10

 11 Private pension funds 1362.3 1827.5 2084.7 2052.8 2340.6 2920.5 2553.1 2608.7 2755.4 2920.5 2979.0 11

 12 State and local govt. retirement funds 170.6 205.2 217.0 152.2 121.6 146.4 131.9 132.7 138.0 146.4 145.7 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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L.215 Depository Institution Loans Not Elsewhere Classified (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2794.4 2035.9 2001.2 2147.8 2322.7 2508.8 2323.8 2388.1 2424.8 2508.8 2561.0 1

 2 Household sector 26.4 -15.9 61.0 11.5 62.6 92.7 56.3 64.6 92.3 92.7 124.4 2

 3 Corporate business 780.1 546.0 477.4 546.3 608.1 654.2 604.2 621.0 627.0 654.2 653.8 3

 4 Noncorporate business 1046.1 944.0 927.2 983.9 1072.0 1121.9 1076.7 1094.4 1106.0 1121.9 1133.3 4

 5 Rest of the world 152.4 137.5 162.0 205.2 237.7 276.7 246.0 252.2 262.5 276.7 290.4 5

 6 Foreign official institutions 4.6 4.5 6.6 5.4 6.2 7.1 6.1 6.1 6.6 7.1 6.4 6

 7 Foreign banks 42.6 37.4 53.0 69.8 70.4 90.5 76.2 80.5 86.8 90.5 92.0 7

 8 Other foreign 105.2 95.6 102.4 130.0 161.0 179.1 163.6 165.7 169.1 179.1 192.0 8

 9 Financial sectors 789.5 424.2 373.6 400.8 342.3 363.2 340.6 355.9 337.1 363.2 359.1 9

 10 Finance companies 174.9 144.5 91.5 102.1 118.5 128.6 118.7 127.5 126.7 128.6 123.4 10

 11 REITs 32.8 20.2 18.4 23.0 27.0 24.0 21.1 23.2 27.6 24.0 27.1 11

 12 Brokers and dealers 45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Holding companies 91.3 164.2 190.3 254.3 196.8 210.6 200.9 205.2 182.8 210.6 208.6 13

 14 Funding corporations 444.9 95.3 73.4 21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Total assets 2794.4 2035.9 2001.2 2147.8 2322.7 2508.8 2323.8 2388.1 2424.8 2508.8 2561.0 15

 16 Monetary authority (2) 490.4 142.8 98.1 30.5 0.6 0.1 0.4 0.3 0.1 0.1 0.1 16

 17 U.S.-chartered depository institutions 1690.7 1404.8 1425.9 1589.6 1797.1 1933.5 1794.8 1847.0 1869.5 1933.5 1969.7 17

 18 Foreign banking offices in U.S. 561.5 435.5 424.2 467.1 463.4 507.2 467.5 476.9 490.9 507.2 524.0 18

 19 Banks in U.S.-affiliated areas 19.7 19.4 16.1 17.1 18.1 19.4 18.1 19.0 19.5 19.4 19.2 19

 20 Credit unions 32.1 33.4 36.9 43.5 43.6 48.7 43.0 44.9 44.9 48.7 48.0 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table L.108.
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L.216 Other Loans and Advances

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total other loans and advances 2629.3 2098.1 1764.7 1769.7 1821.8 1920.8 1815.2 1900.2 1899.0 1920.8 1932.2 1

 2 U.S. government loans 111.3 177.4 180.9 185.8 188.3 196.8 190.9 193.0 194.9 196.8 198.5 2

 3 Liab.: Household sector 12.8 12.6 11.6 11.2 11.0 12.1 11.2 11.8 11.6 12.1 11.9 3

 4 Nonfinancial corporate business 15.3 74.9 70.6 70.1 75.3 76.1 76.1 76.2 76.2 76.1 77.5 4

 5 Nonfinancial noncorporate business 48.9 52.4 53.0 55.9 56.5 58.5 57.0 57.4 58.3 58.5 58.0 5

 6 State and local governments 12.7 13.5 14.4 15.3 15.7 16.2 16.0 16.0 16.1 16.2 16.3 6

 7 Rest of the world 21.6 21.9 22.1 23.5 26.7 31.5 28.1 29.2 30.5 31.5 32.5 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Funding corporations 0.0 2.0 9.2 9.8 3.0 2.4 2.5 2.4 2.4 2.4 2.4 10

 11 Foreign loans to U.S. corporate business 226.4 182.5 162.3 196.1 143.9 135.2 141.6 152.4 139.1 135.2 145.3 11

 12 Liab.: Nonfinancial corporate business 226.4 182.5 162.3 196.1 143.9 135.2 141.6 152.4 139.1 135.2 145.3 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans 8.2 14.6 18.9 22.9 105.3 75.7 106.0 110.7 100.5 75.7 73.0 17

 18 Liab.: Nonfinancial corporate business 8.2 14.6 18.9 22.9 99.3 71.7 101.4 106.4 96.6 71.7 70.0 18

 19 Rest of the world 0.0 0.0 0.0 0.0 6.1 4.0 4.6 4.3 3.9 4.0 3.0 19

 20 Policy loans (Household liability) 120.4 121.1 124.5 126.9 128.3 129.2 128.3 128.9 129.3 129.2 129.4 20

 21 Asset: Federal government 0.6 0.5 0.5 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 21

 22 Life insurance companies 119.8 120.6 124.0 126.5 127.8 128.8 127.8 128.5 128.9 128.8 129.0 22

 23 Government-sponsored enterprise loans (1) 980.7 695.9 551.3 487.0 505.7 587.5 498.8 541.0 547.3 587.5 576.9 23

 24 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) 5.8 5.3 6.9 6.0 6.7 6.7 7.5 6.5 6.1 6.7 8.2 25

 26 Nonfinancial noncorporate business (FCS) 74.5 74.7 80.3 77.7 85.3 88.3 83.9 83.8 83.6 88.3 90.1 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 805.0 541.1 392.8 332.3 336.9 406.2 332.3 372.7 377.3 406.2 389.8 27

 28 Credit unions (FHLB) 40.6 26.5 26.1 24.2 25.1 27.0 22.2 23.5 26.6 27.0 27.4 28

 29 Life insurance companies (FHLB) 54.9 48.3 45.1 46.8 51.6 59.4 52.9 54.5 53.8 59.4 61.3 29

 30 Securitized loans held by ABS issuers 78.1 54.4 4.0 0.1 1.8 1.9 3.9 4.4 3.9 1.9 1.8 30

 31 Liab.: Nonfinancial corporate business 78.1 54.4 4.0 0.1 1.8 1.9 3.9 4.4 3.9 1.9 1.8 31

 32 Finance company loans to business 539.9 448.9 372.7 375.8 387.0 389.0 390.9 394.8 396.9 389.0 385.7 32

 33 Liab.: Nonfinancial corporate business 485.9 404.0 335.5 338.2 348.3 350.1 351.8 355.3 357.2 350.1 347.1 33

 34 Nonfinancial noncorporate business 54.0 44.9 37.3 37.6 38.7 38.9 39.1 39.5 39.7 38.9 38.6 34

 35 Loans to nonfinancial corporate business (2) 564.3 403.4 350.2 375.1 361.6 405.4 354.9 375.0 387.1 405.4 421.7 35

 36 Asset: Household sector 29.7 26.8 26.2 23.4 20.9 25.9 22.7 24.0 24.5 25.9 27.2 36

 37 Life insurance companies 46.3 20.4 16.7 22.2 22.6 25.1 21.7 22.8 23.2 25.1 26.1 37

 38 Mutual funds 94.8 75.4 74.6 93.5 105.7 145.1 113.4 130.9 137.9 145.1 151.3 38

 39 ABS issuers 301.7 197.8 163.8 162.3 160.0 148.3 146.9 143.3 147.3 148.3 152.1 39

 40 Brokers and dealers 55.9 60.1 47.4 54.3 39.6 50.4 37.2 42.2 43.8 50.4 53.9 40

 41 Funding corporations 35.9 22.9 21.4 19.4 12.9 10.6 12.9 11.8 10.4 10.6 11.1 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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L.217 Total Mortgages

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total mortgages 14715.4 14424.5 13791.3 13488.7 13273.9 13286.0 13218.9 13226.2 13268.2 13286.0 13267.5 1

 2 Home 11152.6 10937.3 10443.8 10202.5 9980.9 9887.1 9928.6 9905.6 9916.3 9887.1 9851.3 2

 3 Multifamily residential 847.9 854.7 851.2 858.4 892.6 930.1 896.7 908.1 918.6 930.1 939.0 3

 4 Commercial 2580.2 2486.5 2342.2 2260.7 2227.3 2287.8 2218.7 2235.6 2254.3 2287.8 2294.1 4

 5 Farm 134.7 146.0 154.1 167.2 173.0 181.0 175.0 177.0 179.0 181.0 183.0 5

 6 Total liabilities 14715.4 14424.5 13791.3 13488.7 13273.9 13286.0 13218.9 13226.2 13268.2 13286.0 13267.5 6

 7 Household sector 10779.9 10610.2 10107.0 9891.9 9677.7 9586.9 9628.7 9605.4 9614.0 9586.9 9550.7 7

 8 Nonfinancial business 3772.0 3639.1 3508.2 3407.3 3401.8 3496.9 3390.7 3420.1 3457.1 3496.9 3512.7 8

 9 Corporate 902.2 770.6 656.2 577.4 582.7 607.2 577.0 581.8 592.4 607.2 606.2 9

 10 Noncorporate 2869.9 2868.5 2852.0 2829.9 2819.1 2889.7 2813.7 2838.3 2864.7 2889.7 2906.5 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 163.5 175.3 176.1 189.5 194.4 202.2 199.5 200.7 197.1 202.2 204.1 12

 13 Total assets 14715.4 14424.5 13791.3 13488.7 13273.9 13286.0 13218.9 13226.2 13268.2 13286.0 13267.5 13

 14 Household sector 111.8 110.9 100.1 100.8 86.9 80.4 85.3 83.4 81.8 80.4 78.4 14

 15 Nonfinancial corporate business 33.6 29.5 28.0 27.4 26.6 25.8 26.4 26.2 26.0 25.8 25.6 15

 16 Nonfinancial noncorporate business 39.1 37.9 42.1 42.5 43.1 44.2 43.2 43.5 43.9 44.2 44.4 16

 17 State and local governments 187.3 192.2 202.2 201.7 205.8 209.1 209.8 212.3 210.4 209.1 210.9 17

 18 Federal government 95.8 108.4 105.8 109.9 111.5 115.5 113.3 113.2 114.1 115.5 116.0 18

 19 U.S.-chartered depository institutions 4615.2 4371.9 4194.9 4049.6 4028.8 3983.5 3989.8 3982.5 3975.3 3983.5 3991.2 19

 20 Foreign banking offices in U.S. 44.2 37.8 35.4 32.8 30.9 30.3 29.7 29.6 29.8 30.3 32.2 20

 21 Banks in U.S.-affiliated areas 42.6 42.3 35.8 33.4 34.9 32.4 34.3 33.6 31.6 32.4 32.0 21

 22 Credit unions 312.2 316.9 317.0 320.5 327.8 345.9 328.0 332.1 340.4 345.9 351.4 22

 23 Property-casualty insurance companies 5.0 4.4 4.1 4.9 5.6 7.9 5.8 6.6 7.0 7.9 8.3 23

 24 Life insurance companies 342.4 326.1 317.5 332.5 344.4 363.2 344.6 349.1 357.2 363.2 365.7 24

 25 Private pension funds 26.1 23.8 26.6 21.9 19.4 16.5 18.7 18.0 17.2 16.5 15.9 25

 26 State and local govt. retirement funds 15.1 12.3 11.9 11.9 11.2 8.6 10.7 10.2 9.7 8.6 7.8 26

 27 Government-sponsored enterprises (1) 705.3 707.7 5021.0 4924.0 4823.5 4877.8 4825.0 4836.1 4872.0 4877.8 4861.0 27

 28 Agency- and GSE-backed mortgage pools 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 28

 29 ABS issuers 2619.0 2249.3 1921.5 1702.9 1492.4 1356.1 1454.2 1410.7 1375.2 1356.1 1321.4 29

 30 Finance companies 482.9 430.3 243.5 211.2 179.5 157.0 174.4 171.2 165.9 157.0 154.1 30

 31 REITs 76.3 46.0 44.6 56.1 64.5 62.4 63.1 70.0 70.1 62.4 65.5 31
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L.218 Home Mortgages (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 11152.6 10937.3 10443.8 10202.5 9980.9 9887.1 9928.6 9905.6 9916.3 9887.1 9851.3 1

 2 Household sector 10579.0 10417.6 9912.7 9697.5 9481.7 9386.2 9432.0 9407.9 9416.1 9386.2 9349.1 2

 3 Nonfinancial corporate business 32.7 20.3 13.6 10.2 9.7 10.0 9.4 9.6 9.8 10.0 10.4 3

 4 Nonfinancial noncorporate business 540.9 499.4 517.6 494.8 489.5 490.9 487.2 488.1 490.5 490.9 491.8 4

 5 Total assets 11152.6 10937.3 10443.8 10202.5 9980.9 9887.1 9928.6 9905.6 9916.3 9887.1 9851.3 5

 6 Household sector 91.2 83.2 75.2 67.2 59.2 51.2 57.2 55.2 53.2 51.2 49.2 6

 7 Nonfinancial corporate business 20.2 17.7 16.8 16.4 16.0 15.5 15.8 15.7 15.6 15.5 15.3 7

 8 Nonfinancial noncorporate business 14.3 13.9 15.4 15.5 15.8 16.2 15.8 15.9 16.0 16.2 16.2 8

 9 State and local governments 96.4 99.0 104.1 103.9 106.0 107.7 108.0 109.3 108.4 107.7 108.6 9

 10 Federal government 16.4 22.1 23.1 24.0 25.2 25.6 25.8 25.1 24.5 25.6 25.9 10

 11 U.S.-chartered depository institutions 2884.5 2693.4 2615.6 2538.0 2509.1 2392.8 2470.2 2443.7 2413.6 2392.8 2380.7 11

 12 Foreign banking offices in U.S. 7.0 0.9 1.1 1.3 1.8 1.4 1.8 1.6 1.4 1.4 1.7 12

 13 Banks in U.S.-affiliated areas 22.9 22.6 20.1 17.8 20.0 18.9 20.0 19.2 19.1 18.9 18.4 13

 14 Credit unions 312.2 316.9 317.0 320.5 327.8 345.9 328.0 332.1 340.4 345.9 351.4 14

 15 Life insurance companies 8.6 8.7 9.0 9.0 9.5 9.7 9.3 9.4 9.8 9.7 9.6 15

 16 Private pension funds 1.3 2.0 1.9 1.6 1.6 1.4 1.5 1.5 1.4 1.4 1.3 16

 17 State and local govt. retirement funds 5.4 4.4 4.3 4.3 4.0 3.1 3.8 3.7 3.5 3.1 2.8 17

 18 Government-sponsored enterprises 456.6 433.4 4690.7 4587.7 4476.1 4548.2 4480.2 4494.0 4535.2 4548.2 4535.0 18

 19 Agency- and GSE-backed mortgage pools 4864.0 5266.5 1068.8 1216.8 1321.8 1420.6 1340.2 1366.2 1400.2 1420.6 1432.0 19

 20 ABS issuers 1901.2 1577.6 1302.2 1109.0 928.2 791.2 894.6 855.6 821.0 791.2 767.6 20

 21 Finance companies 416.1 366.0 169.5 149.7 132.6 114.7 129.7 126.2 122.1 114.7 111.5 21

 22 REITs 34.3 8.9 9.0 19.8 26.5 23.1 26.6 31.2 31.1 23.1 24.1 22

 Memo:

 23 Home equity loans included above (2) 1115.9 1033.3 928.5 853.5 769.6 702.9 748.1 730.5 715.1 702.9 691.5 23

 24 U.S.-chartered depository institutions 894.7 841.4 783.3 723.1 652.7 596.2 634.2 620.1 605.9 596.2 585.6 24

 25 Foreign banking offices in U.S. 0.8 0.3 0.3 0.3 0.2 0.4 0.3 0.2 0.3 0.4 0.4 25

 26 Credit unions 98.7 94.6 88.2 82.2 75.7 72.0 74.0 72.5 72.5 72.0 72.3 26

 27 ABS issuers 46.6 31.5 22.8 18.0 14.5 11.4 13.7 12.5 11.9 11.4 10.9 27

 28 Finance companies 75.1 65.5 33.9 29.9 26.5 22.9 25.9 25.2 24.4 22.9 22.3 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

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

 1 Total liabilities 847.9 854.7 851.2 858.4 892.6 930.1 896.7 908.1 918.6 930.1 939.0 1

 2 Nonfinancial corporate business 41.1 41.4 41.2 41.5 43.3 45.0 43.3 43.8 44.4 45.0 45.5 2

 3 Nonfinancial noncorporate business 781.7 786.0 782.3 789.0 822.6 855.0 822.1 833.1 843.5 855.0 864.0 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 25.1 27.3 27.8 27.9 26.7 30.0 31.3 31.1 30.7 30.0 29.6 5

 6 Total assets 847.9 854.7 851.2 858.4 892.6 930.1 896.7 908.1 918.6 930.1 939.0 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 0.5 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 8

 9 Nonfinancial noncorporate business 13.3 12.9 14.3 14.5 14.7 15.1 14.7 14.8 14.9 15.1 15.1 9

 10 State and local governments 74.9 76.9 80.9 80.7 82.3 83.7 83.9 84.9 84.2 83.7 84.4 10

 11 Federal government 14.5 14.7 14.4 14.1 13.7 13.8 13.6 13.6 13.5 13.8 13.7 11

 12 U.S.-chartered depository institutions 276.0 267.0 254.9 248.3 258.5 287.9 261.1 268.6 277.1 287.9 297.3 12

 13 Foreign banking offices in U.S. 4.3 4.0 3.5 2.9 1.4 1.1 1.3 0.9 1.1 1.1 0.9 13

 14 Life insurance companies 51.8 48.5 47.2 49.4 51.1 53.6 50.9 51.5 52.6 53.6 54.0 14

 15 Private pension funds 2.4 2.7 3.1 2.9 2.5 2.2 2.4 2.3 2.2 2.2 2.1 15

 16 State and local govt. retirement funds 4.5 3.7 3.6 3.6 3.4 2.6 3.2 3.1 2.9 2.6 2.4 16

 17 Government-sponsored enterprises 190.2 204.4 256.5 259.2 265.5 243.5 261.9 258.1 251.8 243.5 238.9 17

 18 Agency- and GSE-backed mortgage pools 92.8 105.7 66.9 86.4 113.4 147.1 120.6 130.1 138.8 147.1 152.0 18

 19 ABS issuers 113.1 107.0 98.4 90.7 81.1 74.9 77.6 74.8 74.3 74.9 73.7 19

 20 Finance companies 5.3 4.6 5.1 3.6 2.8 2.0 2.7 2.2 2.1 2.0 2.0 20

 21 REITs 4.3 2.3 2.0 1.7 1.9 2.4 2.1 2.8 2.7 2.4 2.2 21
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L.220 Commercial Mortgages

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2580.2 2486.5 2342.2 2260.7 2227.3 2287.8 2218.7 2235.6 2254.3 2287.8 2294.1 1

 2 Household sector 200.9 192.6 194.3 194.3 195.9 200.8 196.7 197.5 197.9 200.8 201.6 2

 3 Nonfinancial corporate business 799.4 675.9 565.3 485.0 486.8 507.8 481.1 484.8 494.2 507.8 505.5 3

 4 Nonfinancial noncorporate business 1441.4 1470.1 1434.2 1419.7 1376.9 1407.1 1372.6 1383.7 1395.8 1407.1 1412.5 4

 5 REITs 138.4 147.9 148.3 161.7 167.7 172.1 168.3 169.6 166.4 172.1 174.5 5

 6 Total assets 2580.2 2486.5 2342.2 2260.7 2227.3 2287.8 2218.7 2235.6 2254.3 2287.8 2294.1 6

 7 Household sector 20.0 19.2 18.1 17.5 17.2 17.6 17.1 17.2 17.4 17.6 17.9 7

 8 Nonfinancial corporate business 13.0 11.4 10.8 10.6 10.2 9.9 10.2 10.1 10.0 9.9 9.8 8

 9 Nonfinancial noncorporate business 10.7 10.4 11.5 11.7 11.8 12.1 11.8 11.9 12.0 12.1 12.2 9

 10 State and local governments 15.0 15.4 16.2 16.1 16.5 16.7 16.8 17.0 16.8 16.7 16.9 10

 11 Federal government 61.4 67.8 64.1 67.2 68.0 71.9 69.3 69.9 71.6 71.9 72.1 11

 12 U.S.-chartered depository institutions 1404.2 1367.4 1273.2 1210.3 1202.2 1241.0 1198.8 1209.8 1223.6 1241.0 1250.5 12

 13 Foreign banking offices in U.S. 32.8 32.9 30.8 28.5 27.6 27.8 26.6 27.1 27.4 27.8 29.6 13

 14 Banks in U.S.-affiliated areas 19.7 19.6 15.7 15.6 14.9 13.5 14.4 14.4 12.5 13.5 13.6 14

 15 Property-casualty insurance companies 5.0 4.4 4.1 4.9 5.6 7.9 5.8 6.6 7.0 7.9 8.3 15

 16 Life insurance companies 267.1 255.6 248.8 261.1 270.9 286.3 271.2 274.8 281.4 286.3 288.3 16

 17 Private pension funds 22.4 19.0 21.5 17.4 15.3 13.0 14.7 14.2 13.6 13.0 12.5 17

 18 State and local govt. retirement funds 5.1 4.2 4.1 4.0 3.8 2.9 3.6 3.5 3.3 2.9 2.7 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers 604.7 564.8 520.8 503.2 483.1 490.0 482.0 480.2 479.9 490.0 480.1 20

 21 Finance companies 61.6 59.7 68.9 57.9 44.1 40.3 42.0 42.7 41.7 40.3 40.6 21

 22 REITs 37.7 34.8 33.7 34.6 36.1 36.9 34.3 36.0 36.3 36.9 39.2 22

L.221 Farm Mortgages (1)

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

 1 Total liabilities 134.7 146.0 154.1 167.2 173.0 181.0 175.0 177.0 179.0 181.0 183.0 1

 2 Nonfinancial corporate business 28.9 33.0 36.2 40.7 42.9 44.4 43.3 43.6 44.0 44.4 44.8 2

 3 Nonfinancial noncorporate business 105.8 113.0 117.9 126.5 130.1 136.6 131.7 133.3 134.9 136.6 138.2 3

 4 Total assets 134.7 146.0 154.1 167.2 173.0 181.0 175.0 177.0 179.0 181.0 183.0 4

 5 Household sector 0.7 8.5 6.8 16.2 10.6 11.6 11.0 11.0 11.2 11.6 11.4 5

 6 Nonfinancial noncorporate business 0.8 0.8 0.8 0.8 0.9 0.9 0.9 0.9 0.9 0.9 0.9 6

 7 State and local governments 0.9 1.0 1.0 1.0 1.0 1.0 1.0 1.1 1.1 1.0 1.1 7

 8 Federal government 3.5 3.9 4.3 4.5 4.6 4.2 4.5 4.5 4.6 4.2 4.3 8

 9 U.S.-chartered depository institutions 50.6 44.2 51.2 52.9 59.0 61.7 59.7 60.4 61.0 61.7 62.7 9

 10 Foreign banking offices in U.S. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 15.0 13.3 12.4 13.0 13.0 13.6 13.1 13.3 13.5 13.6 13.8 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 58.5 69.9 73.8 77.1 82.0 86.1 82.9 84.0 85.0 86.1 87.1 13

 14 Agency- and GSE-backed mortgage pools 4.7 4.5 3.8 1.7 1.9 1.8 1.9 1.8 1.8 1.8 1.7 14

(1) Excludes mortgages on farm houses.
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L.222 Consumer Credit

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities (Households) 2650.6 2552.8 2647.4 2755.9 2923.6 3097.4 2923.8 2966.4 3036.6 3097.4 3103.6 1

 2 Total assets 2650.6 2552.8 2647.4 2755.9 2923.6 3097.4 2923.8 2966.4 3036.6 3097.4 3103.6 2

 3 Households (nonprofit organizations) (1) 94.6 88.8 78.4 74.5 65.6 59.1 63.8 61.9 60.0 59.1 57.8 3

 4 Nonfinancial corporate business 55.2 53.2 45.5 47.4 49.2 43.5 42.4 42.6 42.8 43.5 42.4 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 135.1 223.1 356.2 484.7 616.8 729.8 659.5 674.6 713.5 729.8 770.9 6

 7 U.S.-chartered depository institutions 965.0 906.3 1185.5 1192.6 1218.6 1271.6 1191.2 1211.5 1231.4 1271.6 1246.5 7

 8 Credit unions 236.2 237.1 226.5 223.0 243.6 265.6 245.5 253.1 261.9 265.6 269.9 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers 610.2 572.5 50.3 46.2 50.0 48.6 50.0 48.2 48.5 48.6 46.2 10

 11 Finance companies 554.3 471.9 705.0 687.6 679.8 679.1 671.3 674.6 678.5 679.1 669.9 11

 Memo:

 12 Credit card loans (3) 1004.7 916.8 840.0 841.7 846.7 857.6 805.5 815.4 820.9 857.6 817.7 12

 13 Auto loans 777.2 719.0 713.3 751.0 808.9 878.4 820.8 841.0 866.4 878.4 891.9 13

 14 Student loans (4) 730.7 831.6 912.4 1012.3 1131.3 1223.0 1168.2 1177.3 1211.0 1223.0 1261.6 14

 15 Other consumer credit (5) 138.1 85.4 181.7 150.9 136.7 138.3 129.2 132.7 138.2 138.3 132.5 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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L.223 Trade Credit

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total trade payables 3226.9 3240.3 3416.1 3462.2 3608.9 3785.3 3660.7 3721.3 3767.1 3785.3 3816.3 1

 2 Household sector 236.7 278.2 248.8 250.0 254.0 255.0 254.3 254.5 254.8 255.0 256.0 2

 3 Nonfinancial corporate business 1672.7 1590.2 1746.5 1771.7 1854.9 1973.0 1882.0 1919.9 1950.4 1973.0 1996.4 3

 4 Nonfinancial noncorporate business 380.6 397.4 427.7 435.5 434.4 442.1 438.5 440.5 442.5 442.1 443.5 4

 5 State and local governments 591.6 630.5 669.0 707.4 746.5 786.1 756.3 766.2 776.1 786.1 796.1 5

 6 Federal government 260.8 204.6 210.9 220.3 235.5 253.8 245.1 253.7 258.2 253.8 262.0 6

 7 Rest of the world 63.2 69.3 95.1 63.0 69.3 60.7 69.2 70.9 71.8 60.7 49.2 7

 8 Brokers and dealers 21.2 70.1 18.1 14.3 14.2 14.5 15.4 15.6 13.3 14.5 13.1 8

 9 Total trade receivables 3089.1 2974.5 3137.1 3250.6 3360.1 3525.2 3478.9 3577.4 3610.1 3525.2 3624.1 9

 10 Nonfinancial corporate business 2085.7 2054.5 2156.5 2240.3 2324.0 2460.5 2435.9 2520.0 2544.2 2460.5 2538.6 10

 11 Nonfinancial noncorporate business 522.7 496.3 533.4 539.2 546.8 560.4 547.7 552.0 556.0 560.4 562.6 11

 12 State and local governments 143.7 139.1 152.2 154.5 160.3 169.1 162.4 165.2 167.5 169.1 170.8 12

 13 Federal government 64.7 43.6 42.9 47.7 50.3 48.8 48.7 52.0 50.6 48.8 48.8 13

 14 Rest of the world 90.1 96.7 116.4 134.2 145.6 155.4 150.0 155.2 158.8 155.4 166.4 14

 15 Property-casualty insurance companies 86.7 83.0 83.8 87.2 92.0 95.2 94.0 96.6 98.3 95.2 102.6 15

 16 ABS issuers 95.5 61.3 51.8 47.6 41.2 35.7 40.1 36.2 34.6 35.7 34.3 16

 17 Discrepancy 137.8 265.8 279.0 211.6 248.8 260.1 181.8 144.0 157.0 260.1 192.2 17

L.224 Security Credit

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

 1 Total liabilities 942.1 936.7 1041.7 1034.2 1131.9 1236.2 1129.5 1172.5 1183.8 1236.2 1256.7 1

 2 Household sector 164.8 203.0 278.2 238.9 303.7 339.2 307.9 302.6 313.7 339.2 351.7 2

 3 Brokers and dealers 777.2 733.7 763.5 795.4 828.2 897.1 821.6 870.0 870.0 897.1 905.1 3

 4 Total assets 942.1 936.7 1041.7 1034.2 1131.9 1236.2 1129.5 1172.5 1183.8 1236.2 1256.7 4

 5 Household sector 737.4 701.7 725.2 726.1 757.0 815.5 743.6 794.0 791.5 815.5 818.7 5

 6 U.S.-chartered depository institutions 23.7 20.4 23.6 35.8 45.0 52.9 47.9 51.8 53.9 52.9 58.4 6

 7 Foreign banking offices in U.S. 16.1 11.6 14.7 33.5 26.2 28.7 30.2 24.2 24.7 28.7 28.0 7

 8 Brokers and dealers 164.8 203.0 278.2 238.9 303.7 339.2 307.9 302.6 313.7 339.2 351.7 8
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L.225 Life Insurance Reserves

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 1179.8 1242.1 1278.3 1352.0 1359.0 1416.5 1370.1 1379.8 1397.4 1416.5 1434.7 1

 2 Federal government 46.4 47.5 48.4 49.7 50.0 50.3 50.1 50.2 50.1 50.3 50.3 2

 3 Life insurance companies 1133.4 1194.5 1229.9 1302.3 1309.0 1366.3 1320.1 1329.6 1347.3 1366.3 1384.5 3

 4 Net change in assets 1179.8 1242.1 1278.3 1352.0 1359.0 1416.5 1370.1 1379.8 1397.4 1416.5 1434.7 4

 5 Households 1049.8 1109.2 1137.2 1203.6 1186.1 1242.2 1194.8 1203.0 1227.7 1242.2 1256.7 5

 6 U.S.-chartered depository institutions 110.7 111.5 116.0 120.8 138.1 134.4 139.2 140.4 132.2 134.4 135.6 6

 7 Holding companies 19.3 21.4 25.1 27.6 34.9 39.9 36.1 36.4 37.5 39.9 42.5 7

L.226 Pension Entitlements

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

 1 Total liabilities 14071.9 15209.5 16751.6 17126.1 18093.8 19563.8 18572.2 18766.0 19115.6 19563.8 19766.4 1

 2 Life insurance companies (1) 2219.2 2350.4 2568.5 2601.7 2788.3 3041.7 2876.2 2900.3 2955.4 3041.7 3072.2 2

 3 Private pension funds (2) 5295.7 5977.0 6626.9 6679.0 7158.1 8010.2 7458.3 7558.8 7762.0 8010.2 8100.9 3

 4 State and local govt. retirement funds 3799.0 3959.8 4408.7 4589.2 4773.1 4981.4 4825.2 4877.3 4929.4 4981.4 5033.5 4

 5 Federal government retirement funds (3) 2758.0 2922.2 3147.5 3256.2 3374.2 3530.5 3412.5 3429.6 3468.8 3530.5 3559.8 5

 6 Total assets (Households) (4) 14071.9 15209.5 16751.6 17126.1 18093.8 19563.8 18572.2 18766.0 19115.6 19563.8 19766.4 6

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs) (table L.226.i), except those at life insurance companies.

L.227 Taxes Payable by Businesses

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

 1 Total taxes payable by all businesses 44.0 40.6 53.1 74.0 79.5 90.8 97.6 68.8 80.9 90.8 103.2 1

 2 Nonfinancial corporate business 39.0 35.7 42.9 51.7 54.0 43.9 60.9 48.1 50.0 43.9 45.0 2

 3 Nonfinancial noncorporate business 106.2 99.9 99.2 100.3 102.4 106.1 102.6 103.8 104.9 106.1 106.7 3

 4 U.S.-chartered depository institutions -73.6 -66.2 -59.6 -49.1 -47.6 -47.4 -45.7 -58.9 -52.9 -47.4 -39.6 4

 5 Property-casualty insurance companies -21.1 -15.8 -10.1 -14.5 -10.8 8.4 -3.2 -5.2 -2.5 8.4 10.7 5

 6 Life insurance companies -24.4 -31.4 -28.8 -23.6 -28.3 -30.5 -28.4 -30.1 -30.1 -30.5 -29.0 6

 7 Finance companies 15.4 12.7 6.0 6.7 6.7 6.8 6.9 6.8 7.0 6.8 6.9 7

 8 Brokers and dealers 2.5 5.7 3.6 2.5 3.1 3.7 4.4 4.4 4.6 3.7 2.6 8

 9 Total business taxes receivable 242.4 250.9 262.1 272.8 279.9 289.6 282.2 284.8 287.4 289.6 296.2 9

 10 State and local governments 123.0 117.1 117.8 120.0 121.3 123.8 121.8 122.6 123.4 123.8 128.6 10

 11 Federal government 119.4 133.9 144.3 152.8 158.6 165.8 160.4 162.2 164.0 165.8 167.6 11

 12 Discrepancy -198.4 -210.4 -209.0 -198.8 -200.4 -198.8 -184.6 -216.0 -206.5 -198.8 -193.0 12

L.228 Proprietors’ Equity in Noncorporate Business

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

 1 Total household equity 7471.3 6216.2 6895.6 7366.9 8038.4 8760.8 8209.8 8398.4 8608.8 8760.8 8868.9 1

 2 Nonfinancial noncorporate business 7460.6 6201.4 6879.7 7353.8 8019.8 8741.6 8190.6 8379.0 8591.1 8741.6 8849.7 2

 3 Brokers and dealers 10.7 14.8 15.9 13.1 18.6 19.2 19.2 19.3 17.7 19.2 19.2 3
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L.229 Total Miscellaneous Financial Claims

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 22321.5 22738.7 23116.7 23981.4 25069.7 24947.9 25178.0 25106.9 25332.6 24947.9 24803.7 1

 2 Household sector 27.0 22.1 24.7 24.3 24.9 27.9 25.9 27.8 26.8 27.9 29.6 2

 3 Nonfinancial corporate business 3946.2 3946.2 3983.5 4098.3 4336.6 4357.2 4333.5 4292.8 4311.8 4357.2 4230.3 3

 4 Nonfinancial noncorporate business 1214.3 1248.1 1197.7 1232.7 1250.9 1264.5 1254.5 1256.3 1262.1 1264.5 1263.2 4

 5 State and local governments 1255.0 1115.7 1339.4 1633.2 1637.5 1328.2 1495.7 1500.7 1449.7 1328.2 1372.8 5

 6 Federal government 2719.3 2859.2 3071.6 3179.4 3281.2 3381.5 3302.1 3321.8 3445.2 3381.5 3402.8 6

 7 Rest of the world 5652.7 5653.5 5958.8 6268.0 6308.5 6431.3 6379.6 6416.6 6543.0 6431.3 6313.7 7

 8 Monetary authority 23.1 29.2 58.4 31.7 33.7 43.5 34.7 32.1 41.2 43.5 47.8 8

 9 U.S.-chartered depository institutions 2030.5 2286.8 2247.6 2236.1 2446.4 2527.3 2503.7 2497.1 2484.5 2527.3 2580.2 9

 10 Foreign banking offices in U.S. 554.3 431.5 413.3 497.1 465.8 437.4 483.7 477.0 442.8 437.4 440.5 10

 11 Banks in U.S.-affiliated areas 24.9 29.2 23.3 19.4 17.3 14.3 16.4 16.5 15.7 14.3 14.8 11

 12 Credit unions 4.7 19.4 11.1 12.4 12.7 14.2 15.3 15.5 15.4 14.2 14.6 12

 13 Property-casualty insurance companies 811.0 819.5 831.9 870.1 896.9 898.2 890.5 896.4 897.2 898.2 903.7 13

 14 Life insurance companies 868.9 958.0 1019.3 1064.6 1114.6 1153.3 1131.5 1113.1 1141.7 1153.3 1176.2 14

 15 Government-sponsored enterprises 207.0 269.2 179.4 130.2 124.1 114.7 119.9 121.9 119.6 114.7 111.2 15

 16 Finance companies 664.8 573.6 271.9 264.1 233.8 207.9 228.9 219.9 218.5 207.9 209.1 16

 17 REITs 64.9 59.6 63.7 70.8 96.3 72.2 89.4 90.6 76.6 72.2 79.4 17

 18 Brokers and dealers 395.9 450.0 483.0 471.4 470.9 517.5 495.9 471.9 485.8 517.5 455.0 18

 19 Holding companies 422.9 548.0 522.0 481.1 833.8 754.4 899.1 901.5 908.9 754.4 751.6 19

 20 Funding corporations 1434.1 1420.2 1415.9 1396.5 1483.7 1402.3 1477.5 1437.3 1445.9 1402.3 1407.1 20

 21 Total assets 28811.5 29027.1 29986.8 31432.2 32885.9 33413.5 33068.0 33301.6 33417.5 33413.5 33425.7 21

 22 Household sector 766.3 800.9 808.2 878.8 873.6 897.6 872.2 874.4 880.9 897.6 901.5 22

 23 Nonfinancial corporate business 9376.9 9555.5 10127.0 10558.6 11154.4 11852.1 11266.8 11424.6 11522.9 11852.1 11968.7 23

 24 Nonfinancial noncorporate business 2121.8 2029.3 2134.1 2141.6 2185.6 2232.6 2187.8 2202.9 2217.0 2232.6 2239.7 24

 25 State and local governments 92.9 118.1 95.6 95.4 101.8 108.1 104.9 107.4 107.6 108.1 110.1 25

 26 Federal government 110.8 145.8 141.4 143.1 142.0 147.7 142.7 139.8 143.6 147.7 149.7 26

 27 Rest of the world 3984.4 3925.9 4114.7 4396.5 4488.5 4443.8 4490.9 4477.5 4461.9 4443.8 4278.0 27

 28 Monetary authority 569.8 75.9 83.1 225.8 199.5 233.1 219.9 228.1 226.8 233.1 235.0 28

 29 U.S.-chartered depository institutions 1318.3 1178.2 1007.0 1005.2 887.2 813.0 845.7 866.4 843.0 813.0 782.3 29

 30 Foreign banking offices in U.S. 48.9 44.5 29.2 44.2 43.9 57.0 52.9 60.6 57.1 57.0 71.0 30

 31 Banks in U.S.-affiliated areas 11.1 6.5 11.0 11.8 12.0 20.5 12.4 18.4 21.2 20.5 17.4 31

 32 Credit unions 32.8 33.0 74.1 61.9 62.7 61.1 70.9 71.7 61.8 61.1 66.1 32

 33 Property-casualty insurance companies 102.6 123.7 99.1 86.9 94.6 105.8 98.7 106.4 110.0 105.8 103.7 33

 34 Life insurance companies 379.0 357.6 351.9 407.6 444.0 472.2 465.0 443.1 463.3 472.2 496.4 34

 35 Private pension funds 1532.6 1476.7 1464.1 1563.2 1532.7 1320.6 1449.1 1444.5 1384.1 1320.6 1320.8 35

 36 State and local govt. retirement funds 1350.9 1201.0 1440.4 1735.9 1739.8 1443.7 1601.3 1609.9 1562.7 1443.7 1492.5 36

 37 Federal government retirement funds 2551.1 2674.8 2865.1 2954.8 3043.7 3132.3 3065.9 3088.0 3211.8 3132.3 3154.4 37

 38 Money market mutual funds 35.2 26.9 23.5 22.7 28.8 31.7 31.5 31.9 33.8 31.7 37.2 38

 39 Mutual funds 20.0 14.9 2.9 5.7 -27.4 -8.3 -16.2 -15.3 17.0 -8.3 -8.3 39

 40 Government-sponsored enterprises 99.1 100.3 148.6 148.5 152.6 165.6 167.9 167.7 166.8 165.6 152.1 40

 41 Finance companies 16.4 44.8 77.0 83.1 57.4 51.4 47.9 45.4 39.9 51.4 51.9 41

 42 REITs 54.6 64.8 66.1 74.7 100.4 112.0 105.9 115.0 101.4 112.0 123.5 42

 43 Brokers and dealers 1105.7 1141.0 1025.3 932.6 857.4 987.2 949.8 1020.4 1003.3 987.2 893.6 43

 44 Holding companies 2337.0 3160.6 3129.4 3165.9 4015.8 4025.2 4107.2 4052.2 4072.6 4025.2 4070.8 44

 45 Funding corporations 793.5 726.3 667.9 687.6 694.8 707.8 726.8 720.6 706.8 707.8 717.5 45

 46 Discrepancy -6490.0 -6288.4 -6870.1 -7450.8 -7816.1 -8465.7 -7889.9 -8194.7 -8084.9 -8465.7 -8621.9 46
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L.230 Identified Miscellaneous Financial Claims - Part I

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 3748.5 4077.4 4273.6 4663.1 5077.8 5366.0 5123.8 5194.6 5309.6 5366.0 5463.8 1

 2 Asset: Nonfinancial corporate business 3011.1 3245.1 3402.9 3795.6 4136.4 4421.6 4170.2 4234.4 4333.4 4421.6 4516.1 2

 3 U.S.-chartered depository institutions 201.5 261.7 280.1 274.3 302.6 306.0 304.6 301.9 308.4 306.0 315.7 3

 4 Property-casualty insurance companies 102.6 123.7 99.1 86.9 94.6 105.8 98.7 106.4 110.0 105.8 103.7 4

 5 Life insurance companies 25.0 28.9 46.3 56.9 70.6 65.7 71.0 70.6 69.9 65.7 65.4 5

 6 Finance companies 221.0 186.9 206.0 215.5 227.6 219.5 229.6 229.5 232.8 219.5 212.5 6

 7 Brokers and dealers 187.4 231.0 239.3 234.0 245.9 247.4 249.5 251.8 255.0 247.4 250.3 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 2050.3 1986.4 2128.7 2313.3 2474.4 2604.4 2485.8 2507.4 2531.6 2604.4 2668.0 8

 9 Nonfinancial noncorporate business 3.7 4.8 5.3 5.9 6.4 6.5 6.4 6.3 6.4 6.5 6.6 9

 10 Foreign banking offices in U.S. 71.7 107.7 120.0 193.7 198.1 202.9 200.0 200.6 202.1 202.9 204.5 10

 11 Property-casualty insurance companies 51.2 64.7 70.7 73.8 72.4 75.7 74.1 74.0 74.3 75.7 77.6 11

 12 Life insurance companies 60.3 69.4 84.3 88.5 93.7 92.4 95.2 98.0 99.9 92.4 93.5 12

 13 Finance companies 78.1 90.0 114.7 96.1 96.3 74.8 95.3 95.9 96.2 74.8 74.7 13

 14 Brokers and dealers 72.1 64.4 88.5 96.3 103.5 108.8 105.1 106.1 106.9 108.8 110.8 14

 15 Funding corporations 10.2 10.8 11.4 12.0 12.6 13.2 12.8 12.9 13.1 13.2 13.4 15

 16 Asset: Rest of the world 2397.4 2398.2 2623.6 2879.5 3057.3 3178.7 3074.6 3101.3 3130.5 3178.7 3249.0 16

 Federal government equity in IBRD, etc.:

 17 Liab.: Rest of the world 48.3 50.0 52.3 54.9 57.3 59.5 57.3 59.4 59.4 59.5 58.8 17

 18 Asset: Federal government 48.3 50.0 52.3 54.9 57.3 59.5 57.3 59.4 59.4 59.5 58.8 18

 Federal Reserve Bank stock:

 19 Liab.: Monetary authority 21.1 25.6 26.5 26.9 27.4 27.5 27.6 27.5 27.4 27.5 28.1 19

 20 Asset: U.S.-chartered depository institutions 21.1 25.6 26.5 26.9 27.4 27.5 27.6 27.5 27.4 27.5 28.1 20

 Equity in government-sponsored enterprises:

 21 Liab.: Government-sponsored enterprises 51.8 51.8 49.0 43.1 41.2 41.7 40.4 40.6 40.5 41.7 40.6 21

 22 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.4 0.5 0.6 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.7 22

 23 Nonfinancial noncorporate (FCS) 6.4 6.3 6.7 7.0 7.2 7.8 7.1 7.4 7.6 7.8 8.0 23

 24 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 U.S.-chartered depository institutions (FHLB) 39.0 39.7 36.7 30.6 28.4 27.8 27.6 27.6 27.0 27.8 26.2 25

 26 Credit unions (FHLB) 2.8 2.4 2.2 2.9 2.9 2.4 3.0 3.0 3.0 2.4 2.4 26

 27 Life insurance companies (FHLB) 3.2 2.9 2.9 2.1 2.2 3.2 2.1 2.1 2.3 3.2 3.2 27

 Holding company net transactions with subsidiaries:

 28 Liab.: U.S.-chartered depository institutions 1370.5 1599.5 1632.8 1709.0 1889.2 1944.2 1916.9 1880.5 1898.1 1944.2 1977.8 28

 29 Property-casualty insurance companies 0.0 0.0 0.0 0.0 22.4 14.7 16.7 16.7 14.9 14.7 14.6 29

 30 Life insurance companies 31.2 40.5 62.7 72.0 17.2 10.7 17.4 17.3 17.7 10.7 11.0 30

 31 Finance companies 232.6 209.3 115.0 94.6 91.1 75.4 74.7 75.8 75.9 75.4 77.8 31

 32 Brokers and dealers 155.2 596.1 626.6 613.5 1060.5 1092.8 1054.3 1072.5 1032.3 1092.8 1097.0 32

 33 Rest of the world 101.5 125.1 135.6 166.3 114.7 85.7 137.2 100.7 127.3 85.7 95.8 33

 34 Asset: Holding companies 1891.0 2570.3 2572.7 2655.4 3195.1 3223.5 3217.2 3163.4 3166.2 3223.5 3274.0 34

 NFC investment in finance company subsidiaries:

 35 Liab.: Finance companies 80.5 71.2 60.7 69.1 71.7 86.4 85.7 86.9 87.1 86.4 89.2 35

 36 Asset: Nonfinancial corporate business 80.5 71.2 60.7 69.1 71.7 86.4 85.7 86.9 87.1 86.4 89.2 36

 Funding corporations’ investment in subsidiaries:

 37 Liab.: Foreign banking offices in U.S. 276.6 203.1 171.6 137.8 126.0 123.5 142.9 142.1 118.7 123.5 123.9 37

 38 Brokers and dealers 516.9 523.2 496.4 549.7 568.8 584.3 583.9 578.5 588.1 584.3 593.6 38

 39 Asset: Funding corporations 793.5 726.3 667.9 687.6 694.8 707.8 726.8 720.6 706.8 707.8 717.5 39

 Equity investment under Public-Private Inv. Program:

 40 Liab.: Funding corporations 0.0 1.8 7.7 8.8 8.7 8.7 8.7 8.7 8.7 8.7 8.7 40

 41 Asset: Households (1) 0.0 0.9 3.8 4.4 4.4 4.4 4.4 4.4 4.4 4.4 4.4 41

 42 Federal government 0.0 0.9 3.8 4.4 4.4 4.4 4.4 4.4 4.4 4.4 4.4 42

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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L.231 Identified Miscellaneous Financial Claims - Part II

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 554.2 10.9 0.8 100.5 9.5 0.6 8.6 2.3 1.1 0.6 0.8 1

 2 Asset: Federal government 0.5 0.7 0.8 0.7 0.7 0.4 0.5 0.6 0.6 0.4 0.4 2

 3 Monetary authority (1) 553.7 10.3 0.1 99.8 8.9 0.3 8.1 1.7 0.5 0.3 0.4 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 15.5 15.9 14.4 12.6 13.7 10.6 13.4 12.0 10.5 10.6 10.4 6

 7 Asset: U.S.-chartered depository institutions 15.5 15.9 14.4 12.6 13.7 10.6 13.4 12.0 10.5 10.6 10.4 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 27.0 22.1 24.7 24.3 24.9 27.9 25.9 27.8 26.8 27.9 29.6 8

 9 Asset: Life insurance companies 27.0 22.1 24.7 24.3 24.9 27.9 25.9 27.8 26.8 27.9 29.6 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 265.2 273.6 290.7 305.5 303.7 304.2 302.3 302.0 305.6 304.2 305.2 10

 11 Accident and health 182.7 192.4 209.4 225.0 222.6 222.8 220.6 220.6 223.8 222.8 224.1 11

 12 Policy dividend accumulation 40.4 39.2 39.7 37.9 38.3 38.5 38.6 38.2 38.2 38.5 38.0 12

 13 Contract claims 42.1 42.0 41.6 42.6 42.8 42.8 43.1 43.2 43.5 42.8 43.0 13

 14 Asset: Household sector 265.2 273.6 290.7 305.5 303.7 304.2 302.3 302.0 305.6 304.2 305.2 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 759.9 754.8 761.2 796.4 802.1 807.8 799.8 805.8 808.0 807.8 811.6 15

 16 Asset: Household sector 337.3 346.0 310.8 347.5 330.8 342.1 331.9 336.8 340.0 342.1 345.7 16

 17 Nonfinancial corporate business 311.1 307.1 319.0 329.0 336.5 336.4 334.9 336.8 337.1 336.4 337.2 17

 18 Nonfinancial noncorporate business 111.5 101.7 131.4 119.8 134.9 129.3 133.0 132.2 130.9 129.3 128.6 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 283.0 385.4 393.7 406.3 425.6 457.6 437.3 439.7 447.8 457.6 465.1 19

 20 Asset: Private pension funds 283.0 385.4 393.7 406.3 425.6 457.6 437.3 439.7 447.8 457.6 465.1 20

 Pension fund contributions payable:

 21 Liab.: Nonfinancial corporate business 84.0 75.6 91.1 94.0 93.2 92.2 93.4 93.5 93.2 92.2 92.0 21

 22 Asset: Private pension funds 84.0 75.6 91.1 94.0 93.2 92.2 93.4 93.5 93.2 92.2 92.0 22

 Securities borrowed (net):

 23 Liab.: Funding corporations 887.0 856.8 733.4 658.7 579.5 673.5 638.6 713.2 702.3 673.5 638.8 23

 24 Asset: Brokers and dealers 887.0 856.8 733.4 658.7 579.5 673.5 638.6 713.2 702.3 673.5 638.8 24

 Nonmarketable government securities:

 25 Liab.: Federal government 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 1265.5 1178.4 1161.5 1352.3 1339.7 25

 26 Asset: Federal government retirement funds 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 1265.5 1178.4 1161.5 1352.3 1339.7 26

 Retiree health care funds (2):

 27 Liab.: Federal government 163.8 180.4 202.9 221.4 234.8 246.9 233.6 231.3 231.0 246.9 246.2 27

 28 Asset: Household sector 163.8 180.4 202.9 221.4 234.8 246.9 233.6 231.3 231.0 246.9 246.2 28

 Claims of pension fund on sponsor (3):

 29 Liab.: Nonfinancial corporate business 677.4 497.6 446.5 486.6 440.2 187.7 349.7 335.6 265.7 187.7 165.8 29

 30 State and local governments 1255.0 1115.7 1339.4 1633.2 1637.5 1328.2 1495.7 1500.7 1449.7 1328.2 1372.8 30

 31 Federal government 1535.8 1597.6 1722.2 1741.1 1789.6 1780.0 1800.3 1909.6 2050.3 1780.0 1814.7 31

 32 Asset: Private pension funds 677.4 497.6 446.5 486.6 440.2 187.7 349.7 335.6 265.7 187.7 165.8 32

 33 State and local govt. retirement funds 1255.0 1115.7 1339.4 1633.2 1637.5 1328.2 1495.7 1500.7 1449.7 1328.2 1372.8 33

 34 Federal government retirement funds 1535.8 1597.6 1722.2 1741.1 1789.6 1780.0 1800.3 1909.6 2050.3 1780.0 1814.7 34

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.

(3) Assets of the household sector.
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L.232 Unidentified Miscellaneous Financial Claims

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 5766.3 5902.6 5618.7 5198.7 5230.0 4978.5 5351.8 5152.3 5242.9 4978.5 4581.5 1

 2 Nonfinancial corporate business 1134.5 1386.6 1317.2 1204.3 1328.9 1473.0 1404.6 1356.3 1421.4 1473.0 1304.6 2

 3 Nonfinancial noncorporate business 1210.7 1243.3 1192.4 1226.8 1244.5 1257.9 1248.2 1250.0 1255.6 1257.9 1256.6 3

 4 Federal government 4.3 4.0 3.6 3.2 2.8 2.3 2.6 2.5 2.4 2.3 2.2 4

 5 Rest of the world 1200.1 1390.2 1496.5 1283.2 1049.2 919.4 1052.7 1059.6 1045.6 919.4 694.6 5

 6 Monetary authority 2.1 3.6 31.9 4.8 6.3 16.0 7.2 4.6 13.7 16.0 19.8 6

 7 U.S.-chartered depository institutions 660.0 687.3 614.7 527.1 557.2 583.1 586.8 616.6 586.4 583.1 602.4 7

 8 Foreign banking offices in U.S. 205.5 120.4 121.4 165.3 141.4 110.8 140.4 134.1 121.8 110.8 111.9 8

 9 Banks in U.S.-affiliated areas 24.9 29.2 23.3 19.4 17.3 14.3 16.4 16.5 15.7 14.3 14.8 9

 10 Credit unions 4.7 19.4 11.1 12.4 12.7 14.2 15.3 15.5 15.4 14.2 14.6 10

 11 Life insurance companies 229.3 189.1 187.9 192.3 274.4 288.4 279.4 256.2 270.7 288.4 301.5 11

 12 Government-sponsored enterprises 139.7 201.6 115.9 74.5 69.2 62.4 66.2 69.3 68.7 62.4 60.2 12

 13 Finance companies 273.7 203.1 -18.4 4.3 -25.3 -28.7 -26.9 -38.7 -40.7 -28.7 -32.7 13

 14 REITs 64.9 59.6 63.7 70.8 96.3 72.2 89.4 90.6 76.6 72.2 79.4 14

 15 Brokers and dealers -348.3 -733.7 -728.3 -788.1 -1261.8 -1268.3 -1247.4 -1285.2 -1241.5 -1268.3 -1346.4 15

 16 Holding companies 422.9 548.0 522.0 481.1 833.8 754.4 899.1 901.5 908.9 754.4 751.6 16

 17 Funding corporations 536.8 550.7 663.4 717.0 882.8 706.9 817.4 702.5 721.9 706.9 746.3 17

 18 Total assets 12256.4 12191.0 12488.8 12649.5 13046.1 13444.2 13241.8 13347.0 13327.8 13444.2 13203.5 18

 19 Nonfinancial corporate business 5973.8 5931.6 6343.8 6364.4 6609.2 7007.1 6675.3 6766.0 6764.8 7007.1 7025.4 19

 20 Nonfinancial noncorporate business 2003.9 1921.3 1996.0 2014.8 2043.6 2095.6 2047.7 2063.4 2078.5 2095.6 2103.1 20

 21 State and local governments 92.9 118.1 95.6 95.4 101.8 108.1 104.9 107.4 107.6 108.1 110.1 21

 22 Federal government 62.0 94.3 84.5 83.2 79.8 83.4 80.5 75.5 79.3 83.4 86.2 22

 23 Rest of the world 1587.0 1527.7 1491.1 1517.0 1431.1 1265.1 1416.3 1376.2 1331.3 1265.1 1029.0 23

 24 Monetary authority 16.1 65.6 83.0 126.0 190.6 232.8 211.9 226.5 226.3 232.8 234.6 24

 25 U.S.-chartered depository institutions 1041.2 835.3 649.3 660.8 515.1 441.1 472.6 497.4 469.6 441.1 401.9 25

 26 Foreign banking offices in U.S. 48.9 44.5 29.2 44.2 43.9 57.0 52.9 60.6 57.1 57.0 71.0 26

 27 Banks in U.S.-affiliated areas 11.1 6.5 11.0 11.8 12.0 20.5 12.4 18.4 21.2 20.5 17.4 27

 28 Credit unions 30.0 30.6 71.9 59.1 59.8 58.8 67.9 68.7 58.8 58.8 63.7 28

 29 Life insurance companies 323.8 303.7 278.0 324.3 346.4 375.4 366.0 342.7 364.3 375.4 398.3 29

 30 Private pension funds 488.2 518.2 532.9 576.3 573.8 583.1 568.7 575.7 577.4 583.1 598.0 30

 31 State and local govt. retirement funds 95.9 85.3 101.0 102.7 102.2 115.5 105.6 109.2 113.0 115.5 119.7 31

 32 Mutual funds 20.0 14.9 2.9 5.7 -27.4 -8.3 -16.2 -15.3 17.0 -8.3 -8.3 32

 33 Money market mutual funds 35.2 26.9 23.5 22.7 28.8 31.7 31.5 31.9 33.8 31.7 37.2 33

 34 Government-sponsored enterprises 99.1 100.3 148.6 148.5 152.6 165.6 167.9 167.7 166.8 165.6 152.1 34

 35 Finance companies -204.6 -142.1 -129.0 -132.4 -170.2 -168.1 -181.7 -184.1 -192.9 -168.1 -160.6 35

 36 REITs 54.6 64.8 66.1 74.7 100.4 112.0 105.9 115.0 101.4 112.0 123.5 36

 37 Brokers and dealers 31.3 53.2 52.6 39.9 31.9 66.3 61.7 55.4 46.0 66.3 4.5 37

 38 Holding companies 446.0 590.3 556.7 510.4 820.7 801.7 890.0 888.8 906.4 801.7 796.8 38

 39 Discrepancy -6490.0 -6288.4 -6870.1 -7450.8 -7816.1 -8465.7 -7889.9 -8194.7 -8084.9 -8465.7 -8621.9 39
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B.100 Balance Sheet of Households and Nonprofit Organizations (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Assets 71476.2 73030.3 77130.1 78258.0 84441.4 94042.3 87359.3 88855.8 91330.1 94042.3 95548.6 1

 2 Nonfinancial assets 24813.9 23671.0 23323.3 23265.8 25007.3 27544.4 25812.0 26437.2 27043.7 27544.4 28329.6 2

 3 Real estate 19861.4 18693.4 18330.9 18111.2 19711.8 22069.7 20462.3 21044.4 21610.4 22069.7 22820.4 3

 4 Households (2,3) 17444.1 16913.9 16347.4 15939.7 17394.5 19407.5 18093.7 18573.4 19026.4 19407.5 20165.4 4

 5 Nonprofit organizations 2417.3 1779.5 1983.6 2171.5 2317.2 2662.2 2368.6 2471.0 2584.0 2662.2 2654.9 5

 6 Equipment (nonprofits) (4) 268.5 279.5 290.6 304.6 315.1 323.7 317.2 319.2 321.5 323.7 326.2 6

 7 Intellectual property products (nonprofits) (4) 105.4 110.0 115.0 123.6 132.4 140.0 134.6 136.2 138.1 140.0 141.6 7

 8 Consumer durable goods (4) 4578.6 4588.1 4586.7 4726.4 4848.0 5011.0 4897.9 4937.4 4973.8 5011.0 5041.4 8

 9 Financial assets 46662.4 49359.3 53806.9 54992.2 59434.1 66497.9 61547.3 62418.7 64286.4 66497.9 67219.0 9

 10 Deposits 8172.0 8090.0 8059.4 8736.8 9241.5 9572.3 9260.6 9246.4 9359.1 9572.3 9783.0 10

 11 Foreign deposits 56.9 50.2 49.7 46.9 45.1 48.4 46.5 51.3 51.0 48.4 43.6 11

 12 Checkable deposits and currency 294.9 396.0 423.6 752.0 897.8 1004.7 919.7 898.1 884.8 1004.7 1096.7 12

 13 Time and savings deposits 6239.3 6330.8 6455.9 6827.7 7191.2 7388.7 7238.7 7248.8 7333.4 7388.7 7551.6 13

 14 Money market fund shares 1580.9 1313.0 1130.2 1110.2 1107.4 1130.4 1055.7 1048.3 1089.9 1130.4 1091.1 14

 15 Credit market instruments 5156.0 5619.9 5834.0 5425.5 5422.2 5446.0 5339.7 5354.2 5328.7 5446.0 5262.8 15

 16 Open market paper 6.0 22.7 21.1 19.4 18.8 15.0 18.0 17.8 17.6 15.0 14.3 16

 17 Treasury securities 188.7 859.7 1134.4 715.6 941.0 935.4 966.2 1009.0 980.8 935.4 841.2 17

 18 Agency- and GSE-backed securities 1057.7 358.3 353.7 304.6 154.2 125.9 112.9 124.6 109.7 125.9 14.1 18

 19 Municipal securities 1720.9 1828.1 1871.8 1808.3 1665.8 1626.3 1676.1 1670.0 1644.9 1626.3 1603.7 19

 20 Corporate and foreign bonds 1946.5 2324.6 2248.3 2379.0 2468.8 2578.0 2394.8 2363.5 2409.4 2578.0 2626.2 20

 21 Other loans and advances (5) 29.7 26.8 26.2 23.4 20.9 25.9 22.7 24.0 24.5 25.9 27.2 21

 22 Mortgages 111.8 110.9 100.1 100.8 86.9 80.4 85.3 83.4 81.8 80.4 78.4 22

 23 Consumer credit (student loans) 94.6 88.8 78.4 74.5 65.6 59.1 63.8 61.9 60.0 59.1 57.8 23

 24 Corporate equities (2) 5931.0 7496.1 8995.3 9025.4 10412.8 13309.6 11456.2 11686.6 12472.2 13309.6 13502.0 24

 25 Mutual fund shares (6) 3306.7 4115.8 4600.2 4502.9 5408.7 6890.1 5898.3 6095.7 6501.9 6890.1 7058.9 25

 26 Security credit 737.4 701.7 725.2 726.1 757.0 815.5 743.6 794.0 791.5 815.5 818.7 26

 27 Life insurance reserves 1049.8 1109.2 1137.2 1203.6 1186.1 1242.2 1194.8 1203.0 1227.7 1242.2 1256.7 27

 28 Pension entitlements (7) 14071.9 15209.5 16751.6 17126.1 18093.8 19563.8 18572.2 18766.0 19115.6 19563.8 19766.4 28

 29 Equity in noncorporate business (8) 7471.3 6216.2 6895.6 7366.9 8038.4 8760.8 8209.8 8398.4 8608.8 8760.8 8868.9 29

 30 Miscellaneous assets 766.3 800.9 808.2 878.8 873.6 897.6 872.2 874.4 880.9 897.6 901.5 30

 31 Liabilities 14278.2 14049.5 13766.5 13566.0 13626.8 13768.2 13575.6 13597.7 13711.5 13768.2 13784.8 31

 32 Credit market instruments 13849.6 13546.3 13214.8 13052.9 13044.2 13146.1 12987.6 13012.9 13116.2 13146.1 13147.5 32

 33 Home mortgages (9) 10579.0 10417.6 9912.7 9697.5 9481.7 9386.2 9432.0 9407.9 9416.1 9386.2 9349.1 33

 34 Consumer credit 2650.6 2552.8 2647.4 2755.9 2923.6 3097.4 2923.8 2966.4 3036.6 3097.4 3103.6 34

 35 Municipal securities (10) 259.5 265.4 263.2 255.5 241.0 227.8 239.4 235.7 232.4 227.8 227.6 35

 36 Depository institution loans n.e.c. 26.4 -15.9 61.0 11.5 62.6 92.7 56.3 64.6 92.3 92.7 124.4 36

 37 Other loans and advances 133.2 133.7 136.1 138.1 139.3 141.3 139.4 140.7 140.9 141.3 141.3 37

 38 Commercial mortgages (10) 200.9 192.6 194.3 194.3 195.9 200.8 196.7 197.5 197.9 200.8 201.6 38

 39 Security credit 164.8 203.0 278.2 238.9 303.7 339.2 307.9 302.6 313.7 339.2 351.7 39

 40 Trade payables (10) 236.7 278.2 248.8 250.0 254.0 255.0 254.3 254.5 254.8 255.0 256.0 40

 41 Deferred and unpaid life insurance premiums 27.0 22.1 24.7 24.3 24.9 27.9 25.9 27.8 26.8 27.9 29.6 41

 42 Net worth 57198.0 58980.9 63363.7 64692.0 70814.6 80274.1 73783.7 75258.1 77618.6 80274.1 81763.8 42

 Memo:

 Replacement-cost value of structures:

 43 Residential 12985.7 12680.7 12730.1 12846.1 13218.9 14154.5 13451.5 13654.4 13863.9 14154.5 14469.3 43

 44 Households 12780.0 12479.0 12526.6 12640.3 13010.0 13930.8 13238.9 13438.6 13644.8 13930.8 14240.6 44

 45 Nonprofit organizations 205.6 201.7 203.5 205.8 208.9 223.7 212.6 215.8 219.1 223.7 228.7 45

 46 Nonresidential (nonprofits) 1537.8 1487.7 1500.8 1554.1 1600.3 1682.8 1619.6 1644.1 1661.1 1682.8 1695.9 46

 47 Disposable personal income (SAAR) 10995.4 10937.2 11243.7 11787.4 12245.8 12476.2 12296.9 12417.4 12567.7 12622.8 12719.0 47

 Household net worth as percentage of

 48 disposable personal income (SAAR) 520.2 539.3 563.5 548.8 578.3 643.4 600.0 606.1 617.6 635.9 642.8 48

 Owners’ equity in household real

 49 estate (11) 6865.1 6496.3 6434.7 6242.1 7912.8 10021.3 8661.7 9165.5 9610.3 10021.3 10816.3 49

 Owners’ equity as percentage of

 50 household real estate (12) 39.4 38.4 39.4 39.2 45.5 51.6 47.9 49.3 50.5 51.6 53.6 50

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

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

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

(7) Includes public and private defined benefit and defined contribution pension plans and annuities, including those in IRAs, at life insurance companies. Excludes social security.

(8) Net worth of nonfinancial noncorporate business (table B.103, line 33) and owners’ equity in unincorporated security brokers and dealers.

(9) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 23.

(10) Liabilities of nonprofit organizations.

(11) Line 4 less line 33.

(12) Line 49 divided by line 4.
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B.102 Balance Sheet of Nonfinancial Corporate Business

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 29540.0 27214.6 29012.5 30596.4 32225.6 34837.6 32695.8 33377.0 34138.3 34837.6 34996.5 1

 2 Nonfinancial assets 16603.1 13880.8 14978.8 16073.2 16950.5 18511.7 17185.6 17619.9 18139.2 18511.7 18568.6 2

 3 Real estate (1) 9358.5 6776.5 7578.2 8318.5 8884.9 10202.1 9058.7 9455.8 9903.1 10202.1 10165.5 3

 4 Equipment (2) 3894.2 3826.9 3887.7 4023.7 4146.9 4245.8 4169.7 4191.0 4218.6 4245.8 4279.4 4

 5 Intellectual property products (2) 1539.3 1572.1 1639.3 1719.8 1819.1 1901.9 1842.1 1858.2 1880.1 1901.9 1920.8 5

 6 Inventories (2) 1811.1 1705.3 1873.6 2011.2 2099.6 2162.0 2115.1 2114.9 2137.4 2162.0 2202.9 6

 7 Financial assets 12936.9 13333.8 14033.7 14523.2 15275.1 16325.9 15510.1 15757.1 15999.1 16325.9 16427.9 7

 8 Foreign deposits 24.7 31.5 40.6 34.8 35.8 80.6 47.6 61.7 64.9 80.6 64.5 8

 9 Checkable deposits and currency 84.2 155.0 234.6 264.3 279.4 374.0 298.8 275.6 319.5 374.0 306.7 9

 10 Time and savings deposits 311.9 488.8 548.7 561.9 598.8 657.3 607.9 623.0 659.3 657.3 668.9 10

 11 Money market fund shares 727.0 655.5 497.8 462.4 480.6 521.1 476.0 473.1 504.0 521.1 497.1 11

 12 Security repurchase agreements 7.2 7.9 12.1 12.6 9.7 8.8 9.3 8.7 12.5 8.8 10.6 12

 13 Commercial paper 57.3 56.0 68.0 67.9 59.8 30.3 56.2 50.2 42.0 30.3 32.9 13

 14 Treasury securities 30.5 43.0 48.0 43.0 39.5 40.3 33.1 38.2 38.5 40.3 38.0 14

 15 Agency- and GSE-backed securities 10.2 14.3 16.0 14.3 13.2 8.4 6.0 7.7 7.8 8.4 7.7 15

 16 Municipal securities 26.2 27.1 23.9 22.3 24.0 11.6 14.5 14.5 14.7 11.6 14.0 16

 17 Mortgages 33.6 29.5 28.0 27.4 26.6 25.8 26.4 26.2 26.0 25.8 25.6 17

 18 Consumer credit 55.2 53.2 45.5 47.4 49.2 43.5 42.4 42.6 42.8 43.5 42.4 18

 19 Trade receivables 2085.7 2054.5 2156.5 2240.3 2324.0 2460.5 2435.9 2520.0 2544.2 2460.5 2538.6 19

 20 Mutual fund shares (1) 106.3 162.0 186.8 165.9 180.1 211.4 189.3 191.0 199.8 211.4 212.2 20

 21 Miscellaneous assets 9376.9 9555.5 10127.0 10558.6 11154.4 11852.1 11266.8 11424.6 11522.9 11852.1 11968.7 21

 22 Liabilities 13225.1 12904.6 13227.9 13879.6 14907.8 15781.2 15085.2 15284.8 15554.2 15781.2 15902.2 22

 23 Credit market instruments 7567.2 7332.5 7455.0 7958.0 8662.4 9407.1 8808.8 9024.0 9242.0 9407.1 9630.5 23

 24 Commercial paper 131.5 58.4 82.9 116.3 130.3 144.5 140.1 147.2 171.2 144.5 180.2 24

 25 Municipal securities (3) 415.0 452.2 485.4 493.9 509.1 518.5 510.4 515.0 516.4 518.5 517.7 25

 26 Corporate bonds (4) 3954.5 4366.2 4804.8 5215.6 5795.2 6435.5 5940.0 6082.7 6269.0 6435.5 6601.0 26

 27 Depository institution loans n.e.c. 780.1 546.0 477.4 546.3 608.1 654.2 604.2 621.0 627.0 654.2 653.8 27

 28 Other loans and advances 1384.0 1139.1 948.3 1008.5 1036.9 1047.2 1037.1 1076.3 1066.1 1047.2 1071.6 28

 29 Mortgages 902.2 770.6 656.2 577.4 582.7 607.2 577.0 581.8 592.4 607.2 606.2 29

 30 Trade payables 1672.7 1590.2 1746.5 1771.7 1854.9 1973.0 1882.0 1919.9 1950.4 1973.0 1996.4 30

 31 Taxes payable 39.0 35.7 42.9 51.7 54.0 43.9 60.9 48.1 50.0 43.9 45.0 31

 32 Miscellaneous liabilities 3946.2 3946.2 3983.5 4098.3 4336.6 4357.2 4333.5 4292.8 4311.8 4357.2 4230.3 32

 33 Net worth (market value) 16314.9 14310.0 15784.6 16716.8 17317.7 19056.4 17610.5 18092.2 18584.1 19056.4 19094.4 33

 Memo:

 Replacement-cost value of structures:

 34 Residential 166.1 163.5 166.3 168.4 169.1 180.7 172.0 174.5 177.0 180.7 184.6 34

 35 Nonresidential 7257.4 6882.9 7114.3 7456.1 7655.8 8040.1 7744.0 7858.4 7938.3 8040.1 8101.0 35

 36 Market value of equities outstanding 10016.6 12512.2 14371.6 14501.0 16132.4 20952.4 17855.2 18178.3 19367.6 20952.4 21222.4 36

 37 Debt/net worth (percent) (5) 46.4 51.2 47.2 47.6 50.0 49.4 50.0 49.9 49.7 49.4 50.4 37

 38 Debt/equities (percent) (6) 75.5 58.6 51.9 54.9 53.7 44.9 49.3 49.6 47.7 44.9 45.4 38

 39 Equities/net worth (percent) (7) 61.4 87.4 91.0 86.7 93.2 109.9 101.4 100.5 104.2 109.9 111.1 39

 With nonfinancial assets stated at historical cost:

 40 Assets (8) 23529.7 23980.1 25015.2 25965.1 27248.6 28787.4 27633.1 27970.5 28359.2 28787.4 29069.0 40

 41 Nonfinancial assets 10592.8 10646.4 10981.5 11441.9 11973.6 12461.5 12123.0 12213.4 12360.0 12461.5 12641.1 41

 42 Real estate 4032.6 4209.8 4379.6 4542.0 4736.0 4938.9 4779.9 4823.6 4884.0 4938.9 5007.5 42

 43 Equipment 3494.4 3463.8 3502.6 3608.6 3748.7 3894.5 3785.1 3821.3 3856.4 3894.5 3930.2 43

 44 Intellectual property products 1436.2 1480.1 1539.7 1609.9 1685.0 1763.4 1704.8 1723.5 1743.2 1763.4 1784.4 44

 45 Inventories 1629.5 1492.7 1559.5 1681.4 1803.9 1864.8 1853.2 1845.0 1876.3 1864.8 1919.0 45

 46 Net worth (historical cost) (9) 10304.6 11075.6 11787.3 12085.5 12340.8 13006.1 12547.9 12685.7 12804.9 13006.1 13166.9 46

 Memo:

 Historical-cost value of structures:

 47 Residential 79.0 80.7 81.6 82.6 84.2 86.5 84.7 85.3 85.9 86.5 87.1 47

 48 Nonresidential 3509.2 3682.7 3811.2 3953.7 4130.5 4318.0 4173.0 4219.3 4268.6 4318.0 4365.8 48

 49 Debt/net worth (percent) (10) 73.4 66.2 63.2 65.8 70.2 72.3 70.2 71.1 72.2 72.3 73.1 49

 (1) At market value.

 (2) At replacement (current) cost.

 (3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

 (4) Through 1992, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

 (5) Line 23 divided by line 33.

 (6) Line 23 divided by line 36

 (7) Line 36 divided by line 33.

 (8) Sum of lines 7 and 41.

 (9) Line 40 less line 22.

 (10) Line 23 divided by line 46.
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B.103 Balance Sheet of Nonfinancial Noncorporate Business

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Assets 13255.0 11931.4 12554.1 13107.4 13879.2 14751.6 14056.6 14292.9 14552.7 14751.6 14889.6 1

 2 Nonfinancial assets 9561.9 8355.3 8826.3 9362.9 10060.9 10849.5 10234.3 10443.5 10678.3 10849.5 10974.6 2

 3 Real estate (1) 8488.5 7300.5 7719.9 8193.9 8857.4 9775.3 9060.0 9296.4 9562.0 9775.3 9926.8 3

 4 Residential 4757.9 4268.7 4408.2 4581.9 4965.0 5480.5 5105.7 5222.0 5359.2 5480.5 5640.8 4

 5 Nonresidential 3730.6 3031.8 3311.7 3612.0 3892.4 4294.8 3954.4 4074.5 4202.9 4294.8 4286.0 5

 6 Equipment (2) 663.3 657.1 667.4 693.7 712.9 622.3 693.0 670.7 649.4 622.3 597.9 6

 7 Residential (3) 46.6 44.0 42.2 43.7 44.1 42.9 44.1 43.5 43.1 42.9 43.0 7

 8 Nonresidential 616.8 613.1 625.2 650.0 668.8 579.4 648.9 627.2 606.3 579.4 554.9 8

 9 Intellectual property products (2) 171.0 175.8 183.0 191.0 201.8 154.7 191.1 180.6 168.6 154.7 138.4 9

 10 Inventories (2) 239.0 221.9 256.0 284.4 288.8 297.3 290.1 295.8 298.4 297.3 311.5 10

 11 Financial assets 3693.1 3576.1 3727.8 3744.5 3818.3 3902.1 3822.4 3849.3 3874.4 3902.1 3915.0 11

 12 Checkable deposits and currency 519.4 534.3 531.5 529.1 543.8 553.4 543.9 547.1 550.1 553.4 554.8 12

 13 Time and savings deposits 358.1 353.3 356.2 360.1 365.2 374.3 365.8 368.7 371.4 374.3 375.8 13

 14 Money market fund shares 75.4 73.7 76.8 77.7 78.8 80.7 78.9 79.5 80.1 80.7 81.0 14

 15 Credit market instruments 95.8 89.1 95.8 96.8 98.2 100.6 98.3 99.1 99.8 100.6 101.0 15

 16 Treasury securities 51.8 46.1 48.1 48.6 49.3 50.5 49.4 49.7 50.1 50.5 50.7 16

 17 Municipal securities 4.9 5.1 5.6 5.7 5.8 5.9 5.8 5.8 5.9 5.9 5.9 17

 18 Mortgages 39.1 37.9 42.1 42.5 43.1 44.2 43.2 43.5 43.9 44.2 44.4 18

 19 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Trade receivables 522.7 496.3 533.4 539.2 546.8 560.4 547.7 552.0 556.0 560.4 562.6 20

 21 Miscellaneous assets 2121.8 2029.3 2134.1 2141.6 2185.6 2232.6 2187.8 2202.9 2217.0 2232.6 2239.7 21

 22 Insurance receivables 111.5 101.7 131.4 119.8 134.9 129.3 133.0 132.2 130.9 129.3 128.6 22

 23 Equity investment in GSEs (4) 6.4 6.3 6.7 7.0 7.2 7.8 7.1 7.4 7.6 7.8 8.0 23

 24 Other 2003.9 1921.3 1996.0 2014.8 2043.6 2095.6 2047.7 2063.4 2078.5 2095.6 2103.1 24

 25 Liabilities 5794.4 5730.0 5674.4 5753.6 5859.4 6010.0 5866.1 5913.9 5961.6 6010.0 6039.9 25

 26 Credit market instruments 4093.2 3984.5 3949.8 3985.0 4071.6 4197.3 4070.4 4113.3 4152.2 4197.3 4226.5 26

 27 Depository institution loans n.e.c. 1046.1 944.0 927.2 983.9 1072.0 1121.9 1076.7 1094.4 1106.0 1121.9 1133.3 27

 28 Other loans and advances 177.3 172.0 170.6 171.2 180.6 185.7 180.1 180.6 181.5 185.7 186.7 28

 29 Mortgages 2869.9 2868.5 2852.0 2829.9 2819.1 2889.7 2813.7 2838.3 2864.7 2889.7 2906.5 29

 30 Trade payables 380.6 397.4 427.7 435.5 434.4 442.1 438.5 440.5 442.5 442.1 443.5 30

 31 Taxes payable 106.2 99.9 99.2 100.3 102.4 106.1 102.6 103.8 104.9 106.1 106.7 31

 32 Miscellaneous liabilities 1214.3 1248.1 1197.7 1232.7 1250.9 1264.5 1254.5 1256.3 1262.1 1264.5 1263.2 32

 33 Net worth (5) 7460.6 6201.4 6879.7 7353.8 8019.8 8741.6 8190.6 8379.0 8591.1 8741.6 8849.7 33

 Memo:

 Replacement-cost value of structures:

 34 Residential 2881.7 2815.4 2839.6 2861.5 2875.3 3058.3 2920.4 2959.1 2999.7 3058.3 3122.9 34

 35 Nonresidential 1682.0 1586.0 1595.4 1646.2 1682.6 1841.5 1724.6 1768.7 1802.0 1841.5 1874.5 35

 36 Debt/net worth (percent) (6) 54.9 64.3 57.4 54.2 50.8 48.0 49.7 49.1 48.3 48.0 47.8 36

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 25. Included in table B.100, line 31.

(6) Line 26 divided by line 33.
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R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) -10634.1 1782.8 4382.8 1328.3 6122.5 9459.6 2969.2 1474.4 2360.5 2655.5 1489.7 1

 2 Net investment 1018.7 855.2 1154.3 1364.2 1166.1 1355.6 493.8 217.9 131.7 512.2 313.9 2

 3 Net physical investment 289.4 105.4 130.3 167.3 240.2 336.4 79.8 83.6 89.0 83.9 77.5 3

 4 Capital expenditures 1613.6 1429.3 1448.9 1509.6 1613.2 1733.9 423.1 431.1 440.5 439.2 436.9 4

 5 - Consumption of fixed capital 1324.2 1323.8 1318.6 1342.2 1373.0 1397.5 343.3 347.5 351.4 355.3 359.4 5

 6 Net lending (+) or net borrowing (-) 729.3 749.8 1024.1 1196.9 925.9 1019.2 414.0 134.3 42.6 428.3 236.4 6

 7 Net acquisition of financial assets 739.7 813.3 916.9 1137.5 1189.0 1248.8 389.2 181.0 177.6 501.1 266.8 7

 8 - Net increase in liabilities 10.4 63.5 -107.2 -59.4 263.1 229.6 -24.9 46.7 134.9 72.8 30.4 8

 Holding gains on assets

 9 at market value (2) -11583.2 417.3 2522.0 95.8 4713.1 7800.3 2449.8 1105.9 2185.9 2058.7 1217.9 9

 10 Real estate -3646.1 -1203.9 -385.9 -244.6 1560.8 2255.3 728.4 555.8 537.3 433.8 729.9 10

 11 Corporate equities -3886.4 1566.4 1690.6 192.0 1636.1 3047.6 1004.6 255.4 938.9 848.7 326.8 11

 12 Mutual fund shares -1333.3 469.7 251.8 -270.3 360.8 767.4 178.7 18.8 259.6 310.3 -25.0 12

 13 Equity in noncorporate business -1169.4 -1185.3 489.7 537.6 701.3 740.0 165.0 196.6 222.4 156.0 114.5 13

 14 Life insurance reserves -86.9 34.8 21.7 -7.4 18.9 27.5 8.2 2.5 6.2 10.5 1.7 14

 15 Pension entitlements -1461.2 735.9 455.0 -111.4 435.3 962.5 364.9 76.8 221.5 299.4 70.0 15

 16 Equity investment under PPIP 0.0 -0.3 -1.0 -0.2 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 16

 Holding gains on assets

 17 at current cost (2) -26.8 -41.0 -85.4 22.2 -35.0 -50.5 -2.7 -13.9 -18.0 -15.8 -19.4 17

 18 Consumer durable goods -32.0 -40.8 -88.3 17.9 -38.8 -53.3 -3.2 -14.2 -19.0 -17.0 -21.0 18

 19 Equipment 3.9 -0.5 1.4 2.0 0.6 0.2 -0.3 -0.2 0.4 0.3 1.1 19

 20 Intellectual property products 1.2 0.3 1.5 2.3 3.2 2.6 0.8 0.4 0.6 0.8 0.5 20

 21 Other volume changes (3) -42.8 551.3 791.8 -153.9 278.4 354.1 28.2 164.6 61.0 100.4 -22.8 21

 Memo:

 22 Net worth outstanding (4) 57198.0 58980.9 63363.7 64692.0 70814.6 80274.1 73783.7 75258.1 77618.6 80274.1 81763.8 22

 23 Disposable personal income 10995.4 10937.2 11243.7 11787.4 12245.8 12476.2 12296.9 12417.4 12567.7 12622.8 12719.0 23

(1) Sum of net investment (line 2), holding gains (lines 9 and 17), and other volume changes (line 21).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.100, line 42.
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R.102 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) -1953.3 -2004.9 1474.6 932.2 601.0 1738.6 292.8 481.7 491.9 472.2 38.0 1

 2 Net investment -975.0 400.3 56.2 -613.8 -583.7 -309.3 -66.9 -54.5 -133.4 -54.5 -103.5 2

 3 Net physical investment 302.7 -88.6 188.2 258.7 327.7 323.4 62.4 73.8 93.8 93.3 88.7 3

 4 Capital expenditures 1358.6 1008.5 1239.6 1337.0 1504.2 1560.0 363.7 383.3 405.5 407.5 398.7 4

 5 - Consumption of fixed capital 1092.9 1090.4 1092.4 1134.4 1186.6 1237.0 304.6 307.3 311.3 313.9 317.8 5

 6 - Inventory valuation adjustment -37.0 6.7 -41.0 -56.0 -10.0 -0.3 -3.3 2.2 0.4 0.3 -7.8 6

 7 Net lending (+) or net borrowing (-) -943.3 551.0 145.5 -400.3 -511.9 -224.1 -65.2 -22.5 -114.0 -22.3 -85.5 7

 8 Net acquisition of financial assets -604.2 302.4 633.2 494.1 684.6 866.0 172.7 233.5 204.2 255.5 89.7 8

 9 - Net increase in liabilities 339.1 -248.5 487.8 894.4 1196.4 1090.0 237.9 256.1 318.3 277.8 175.1 9

 10 Net corporate equity issues -334.3 -62.1 -277.4 -472.2 -399.5 -408.6 -64.0 -105.8 -113.2 -125.5 -106.7 10

 Holding gains on assets

 11 at market value (2) -1205.1 -2624.5 755.4 685.8 499.0 1261.5 175.9 380.5 420.7 284.4 -81.9 11

 12 Real estate -1149.9 -2644.9 741.8 693.8 484.8 1230.9 166.8 379.0 412.1 273.0 -82.4 12

 13 Mutual fund shares -55.2 20.4 13.6 -8.1 14.2 30.6 9.0 1.5 8.7 11.4 0.6 13

 Holding gains on assets less

 14 liabilities at current cost (2) 8.0 165.6 3.4 135.8 52.8 2.6 -25.3 -30.5 52.0 6.4 34.8 14

 15 Equipment 104.8 -10.1 48.4 62.2 21.1 -6.3 -3.6 -4.8 2.7 -0.6 7.9 15

 16 Intellectual property products 12.8 3.0 22.2 27.6 45.2 27.3 8.8 3.0 8.0 7.5 3.7 16

 17 Inventories (3) -66.5 39.9 63.6 42.5 7.4 -10.4 4.0 -9.2 -3.7 -1.5 23.1 17

 18 Direct investment abroad -144.4 -35.7 -145.6 -7.1 -24.9 -48.1 -47.8 -34.1 14.6 19.3 0.0 18

 19 - Foreign direct investment in U.S. -101.2 -168.5 -14.8 -10.7 -4.0 -40.0 -13.3 -14.6 -30.5 18.2 0.0 19

 20 Other volume changes (4) 218.8 53.8 659.6 724.4 632.9 783.8 209.1 186.2 152.6 235.9 188.5 20

 Memo:

 21 Net worth outstanding (5) 16314.9 14310.0 15784.6 16716.8 17317.7 19056.4 17610.5 18092.2 18584.1 19056.4 19094.4 21

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.102, line 33.
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118 Z.1, June 5, 2014

R.103 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) -1458.8 -1259.2 678.3 474.2 666.0 721.8 170.7 188.5 212.0 150.6 108.0 1

 2 Net capital transfers paid -3.3 -6.0 -7.8 -1.6 -4.9 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net investment -302.1 -76.0 181.4 -70.5 -29.8 -19.8 6.4 -9.6 -9.1 -7.5 -6.5 3

 4 Net physical investment 52.6 -12.8 -10.8 -0.9 9.3 51.4 10.3 12.5 14.8 13.8 11.3 4

 5 Capital expenditures 307.1 240.2 241.0 255.8 273.8 326.8 78.0 80.9 84.0 83.8 82.2 5

 6 - Consumption of fixed capital 254.5 253.0 251.8 256.8 264.5 275.4 67.7 68.4 69.2 70.0 71.0 6

 7 Net lending (+) or net borrowing (-) -49.3 18.8 18.6 2.5 -4.3 -51.4 -10.3 -12.5 -14.8 -13.8 -11.3 7

 8 Net acquisition of financial assets 97.2 -117.0 151.7 16.7 73.8 83.8 4.1 27.0 25.0 27.8 12.9 8

 9 - Net increase in liabilities 146.6 -135.8 133.1 14.2 78.2 135.2 14.4 39.5 39.8 41.6 24.2 9

 10 Proprietor’s net investment (2) -305.3 -82.0 173.6 -72.1 -34.7 -19.8 6.4 -9.6 -9.1 -7.5 -6.5 10

 11 Holding gains on real estate (3) -1175.0 -1188.9 437.1 487.2 671.1 908.6 202.2 234.4 262.2 209.7 147.9 11

 12 Residential -808.9 -479.2 156.4 188.2 398.1 512.3 141.1 115.8 135.7 119.7 158.3 12

 13 Nonresidential -366.1 -709.8 280.7 299.0 273.0 396.3 61.2 118.5 126.5 90.0 -10.3 13

 14 Holding gains on assets at current cost (3) 16.2 -4.9 44.7 50.4 26.2 -171.4 -39.2 -37.6 -42.2 -52.3 -34.1 14

 15 Residential equipment 0.1 -2.7 -2.3 1.3 1.0 0.2 0.4 -0.2 -0.2 0.3 0.8 15

 16 Nonresidential equipment 21.9 6.1 8.8 15.6 11.2 -94.9 -21.4 -23.3 -21.9 -28.4 -25.4 16

 17 Intellectual property products 1.5 0.2 2.0 2.4 4.6 -51.5 -12.0 -11.7 -13.0 -14.8 -17.2 17

 18 Inventories -7.3 -8.6 36.2 31.1 9.3 -25.2 -6.2 -2.4 -7.1 -9.5 7.6 18

 19 Other volume changes (4) 5.3 16.6 22.8 8.7 3.4 4.4 1.4 1.3 1.1 0.7 0.7 19

 Memo:

 20 Net worth outstanding (5) 7460.6 6201.4 6879.7 7353.8 8019.8 8741.6 8190.6 8379.0 8591.1 8741.6 8849.7 20

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 19).

(2) Shown on table F.103, line 30.

(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 33.
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B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Assets 71476.2 73030.3 77130.1 78258.0 84441.4 94042.3 87359.3 88855.8 91330.1 94042.3 95548.6 1

 2 Nonfinancial assets 24813.9 23671.0 23323.3 23265.8 25007.3 27544.4 25812.0 26437.2 27043.7 27544.4 28329.6 2

 3 Financial assets 46662.4 49359.3 53806.9 54992.2 59434.1 66497.9 61547.3 62418.7 64286.4 66497.9 67219.0 3

 4 Deposits 8172.0 8090.0 8059.4 8736.8 9241.5 9572.3 9260.6 9246.4 9359.1 9572.3 9783.0 4

 5 Credit market instruments 5156.0 5619.9 5834.0 5425.5 5422.2 5446.0 5339.7 5354.2 5328.7 5446.0 5262.8 5

 6 Equity shares at market value 10194.5 13091.8 15461.4 15105.2 17368.1 22417.5 19091.3 19545.9 20892.9 22417.5 22778.7 6

 7 Directly held 5931.0 7496.1 8995.3 9025.4 10412.8 13309.6 11456.2 11686.6 12472.2 13309.6 13502.0 7

 8 Indirectly held 4263.5 5595.7 6466.1 6079.7 6955.3 9107.9 7635.0 7859.2 8420.7 9107.9 9276.7 8

 9 Life insurance companies 956.9 1220.3 1420.5 1395.7 1556.5 1825.5 1654.4 1678.8 1733.8 1825.5 1846.3 9

 10 Private pension funds (2) 1373.1 1798.7 2121.7 2016.9 2288.1 2986.8 2531.9 2607.2 2778.2 2986.8 3058.3 10

 11 Federal govt. retirement funds (2) 83.7 116.8 140.9 134.4 148.1 206.2 167.8 173.8 184.5 206.2 211.8 11

 12 Mutual funds 1849.8 2459.9 2782.9 2532.8 2962.6 4089.4 3281.0 3399.4 3724.2 4089.4 4160.3 12

 13 Other 23139.9 22557.6 24452.1 25724.8 27402.4 29062.1 27855.7 28272.2 28705.7 29062.1 29394.5 13

 14 Liabilities 14278.2 14049.5 13766.5 13566.0 13626.8 13768.2 13575.6 13597.7 13711.5 13768.2 13784.8 14

 15 Net worth 57198.0 58980.9 63363.7 64692.0 70814.6 80274.1 73783.7 75258.1 77618.6 80274.1 81763.8 15

 Memo:

 Equity shares (line 6) as a percent of

 16 Total assets (line 1) 14.3 17.9 20.0 19.3 20.6 23.8 21.9 22.0 22.9 23.8 23.8 16

 17 Financial assets (line 3) 21.8 26.5 28.7 27.5 29.2 33.7 31.0 31.3 32.5 33.7 33.9 17

(1) Estimates of equity shares (lines 7 through 12) 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.

(2) Defined contribution plans. Assets held by defined benefit pension funds are not considered assets of the household sector. Defined benefit pension entitlements are included in line 13.
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F.100.a Nonprofit Organizations (1)

Billions of dollars

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(2) Not included in table F.100.
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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 repurchase agreements (2) 1.7 4.8 2.5 1.3 7.3 7.8 8.0 8.2 9.6 9.6 10.9 11.6 12.5 5

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

(2) Not included in table L.100.
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F.105.c Consolidated Statement for Federal, State, and Local Governments

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 4043.8 3691.2 3885.0 4074.1 4259.2 4695.8 4547.3 4832.0 4623.3 4780.6 4761.4 1

 2 Personal current taxes 1435.2 1144.9 1191.5 1404.0 1498.0 1658.5 1629.0 1668.8 1657.6 1678.5 1698.3 2

 3 Taxes on production and imports 1041.9 1026.1 1057.1 1097.1 1122.9 1146.7 1140.7 1138.8 1149.0 1158.3 1172.6 3

 4 Taxes on corporate income 281.1 246.0 346.3 345.0 402.4 384.3 375.4 384.7 383.2 393.6 419.6 4

 5 Taxes from the rest of the world 18.8 14.8 15.7 16.3 17.8 19.9 19.2 19.4 20.0 20.8 21.7 5

 6 Contributions for govt. social insurance 993.1 969.4 989.0 922.6 955.3 1111.3 1099.0 1108.6 1114.3 1123.5 1139.4 6

 7 Income receipts on assets 139.6 136.3 137.2 137.4 131.4 246.0 154.3 380.6 175.3 273.7 187.7 7

 8 Current transfer receipts 155.4 174.3 171.1 175.4 159.1 169.2 165.1 170.0 165.3 176.5 167.6 8

 9 Current surplus of government enterprises -21.2 -20.6 -22.9 -23.8 -27.7 -40.1 -35.5 -39.0 -41.4 -44.3 -45.5 9

10 Current expenditures, NIPA basis 4844.0 5213.0 5451.8 5535.4 5621.6 5669.0 5630.1 5682.7 5699.3 5664.0 5727.6 10

11 Consumption expenditures 2368.6 2442.1 2522.2 2526.1 2548.0 2519.2 2525.3 2517.5 2523.2 2510.8 2527.5 11

12 Government social benefits 1862.8 2117.5 2250.5 2277.4 2334.8 2418.1 2400.4 2404.9 2431.8 2435.4 2476.1 12

13 Other current transfer payments 45.0 52.7 50.6 56.5 49.9 48.6 47.6 52.4 53.5 40.8 41.9 13

14 Interest payments 515.0 542.4 572.7 615.5 631.6 624.5 598.8 649.0 631.7 618.3 625.4 14

15 Subsidies 52.6 58.3 55.9 60.0 57.3 58.7 58.0 58.9 59.1 58.7 56.8 15

16 Net saving, NIPA basis -800.2 -1521.7 -1566.8 -1461.3 -1362.3 -973.2 -1082.9 -850.7 -1075.9 -883.4 -966.2 16

17 + Consumption of fixed capital 426.5 442.7 458.1 478.1 493.6 505.1 500.5 503.4 506.1 510.5 513.2 17

18 - Insurance and pension fund reserves (1) -0.6 0.5 -1.7 -0.4 -1.4 -1.2 -1.9 -0.4 -2.7 -0.0 -2.0 18

19 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.8 5.0 4.9 4.4 4.6 5.3 5.3 5.3 5.3 5.4 5.5 19

20 - Net capital transfers (2) -13.3 -3.4 8.1 7.5 5.8 -12.2 -5.4 -10.3 -13.4 -19.6 -13.1 20

21 = Gross saving less net capital transfers -364.6 -1081.1 -1120.1 -994.7 -877.7 -460.0 -580.4 -342.0 -559.1 -358.6 -443.5 21

22 Gross investment -483.4 -1089.1 -1068.7 -1026.9 -765.1 -366.3 -778.9 178.5 -453.5 -411.1 -556.1 22

23 Fixed investment 634.6 647.0 651.8 632.6 619.0 606.3 598.8 604.4 614.4 607.6 588.8 23

24 Nonproduced nonfinancial assets -6.6 3.4 9.6 9.2 8.9 8.5 9.2 8.8 8.2 7.8 7.7 24

25 Net lending (+) or net borrowing (-) -1111.5 -1739.5 -1730.1 -1668.8 -1392.9 -981.1 -1386.9 -434.8 -1076.1 -1026.6 -1152.7 25

26 Net acquisition of financial assets 522.8 268.8 343.5 -139.8 145.8 208.2 271.3 253.8 -78.9 386.7 139.2 26

27 U.S. official reserve assets 4.2 51.9 1.6 16.2 4.3 -3.3 3.3 -1.0 -4.2 -11.2 -14.4 27

28 Checkable deposits and currency 321.6 -155.0 154.5 -240.8 -2.3 76.1 4.9 118.4 -160.1 341.0 -24.3 28

29 Time and savings deposits 17.2 10.0 -6.3 15.0 19.4 12.2 14.6 -6.3 30.5 10.1 20.4 29

30 Money market fund shares 2.6 9.8 13.7 3.4 5.4 4.9 14.5 10.1 -3.6 -1.6 7.7 30

31 Security repurchase agreements -12.1 -4.3 -1.4 -3.6 4.7 4.3 12.0 8.5 -2.4 -0.8 6.6 31

32 Credit market instruments 42.6 291.6 140.0 0.6 97.0 111.9 210.4 143.5 44.1 49.4 151.4 32

33 Open market paper -22.0 -39.1 13.0 -11.2 -7.2 -7.8 -2.6 -5.3 -12.2 -11.1 -6.6 33

34 Agency- and GSE-backed securities (3) 36.0 151.6 -24.7 -126.0 -41.1 -12.6 17.9 3.2 -38.9 -32.5 -4.5 34

35 Municipal securities 0.4 1.0 1.4 0.3 0.3 0.2 1.0 0.7 -0.5 -0.3 0.5 35

36 Corporate and foreign bonds -5.7 3.9 7.7 -0.9 3.2 2.6 12.7 8.1 -6.3 -4.1 5.6 36

37 Mortgages 9.2 21.0 6.8 5.9 7.7 8.4 24.4 10.9 -3.0 1.3 9.6 37

38 Consumer credit 19.5 87.9 133.1 128.5 132.1 113.1 148.2 117.2 97.7 89.2 140.5 38

39 Other loans and advances (4) 5.2 65.2 2.7 4.0 2.1 7.9 8.8 8.7 7.3 6.9 6.4 39

40 Corporate equities 248.5 -1.8 23.8 37.7 -11.4 -3.4 1.7 1.6 -13.6 -3.3 2.4 40

41 Mutual fund shares -0.7 1.7 2.8 0.2 0.9 0.7 3.5 2.3 -1.7 -1.1 1.5 41

42 Trade receivables -11.2 -25.7 12.4 7.1 8.4 7.3 -5.4 25.6 4.8 4.1 -0.6 42

43 Taxes receivable -56.8 30.1 28.2 22.9 14.0 -14.3 -3.6 -47.0 11.3 -18.0 -28.0 43

44 Miscellaneous assets -33.2 60.6 -25.9 1.7 5.4 11.8 15.2 -1.9 16.1 18.1 16.4 44

45 Net increase in liabilities 1634.2 2008.4 2073.6 1529.0 1538.7 1189.3 1658.2 688.6 997.2 1413.2 1291.8 45

46 SDR allocations 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 SDR certificates 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 Treasury currency -0.8 -0.4 -0.3 0.0 0.0 -0.4 0.0 0.0 -1.4 0.0 0.0 48

49 Credit market instruments 1302.8 1573.5 1642.1 1047.0 1095.3 734.0 1203.0 306.8 150.7 1275.4 861.5 49

50 Savings bonds -2.4 -2.8 -3.3 -2.7 -2.8 -3.3 -2.5 -3.7 -3.3 -3.6 -2.9 50

51 Treasury bills and other Treasury securities (4) 1287.9 1464.0 1576.0 1102.2 1104.2 777.1 1134.9 276.2 270.4 1426.9 886.8 51

52 Budget agency securities 0.2 0.1 0.7 1.1 -0.4 -0.4 -1.0 1.3 0.5 -2.4 -1.9 52

53 Municipal securities 17.1 112.2 68.7 -53.6 -5.7 -39.4 71.7 33.0 -116.9 -145.4 -20.5 53

54 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 54

55 Trade payables 61.2 -17.3 44.7 47.8 54.3 57.9 42.0 71.0 65.3 53.3 35.9 55

56 Insurance reserves 1.0 1.1 0.9 1.3 0.3 0.3 0.2 0.8 -0.5 0.5 -0.0 56

57 Miscellaneous liabilities (5) 270.1 400.7 386.2 432.8 388.7 397.5 412.9 310.1 783.0 84.0 394.5 57

58 Discrepancy 118.8 8.0 -51.4 32.2 -112.6 -93.8 198.6 -520.5 -105.6 52.5 112.6 58

 Memo:

59 Net govt. saving less fixed investment (6) -1434.8 -2168.7 -2218.6 -2093.9 -1981.3 -1579.5 -1681.7 -1455.1 -1690.3 -1491.0 -1555.0 59

60 Adjustment between NIPA and FOF (7) 323.3 429.2 488.6 425.2 588.4 598.4 294.8 1020.4 614.2 464.4 402.3 60

61 Items to be financed (8) -1111.5 -1739.5 -1730.1 -1668.8 -1392.9 -981.1 -1386.9 -434.8 -1076.1 -1026.6 -1152.7 61

(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 16 less line 23.

(7) Line 17 less the sum of lines 18, 19, 20, 24, and 58.

(8) Line 59 plus line 60.
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L.105.c Consolidated Statement for Federal, State, and Local Governments

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3296.1 3451.7 3756.6 3563.7 3729.4 3996.9 3800.7 3889.6 3890.3 3996.9 4040.3 1

 2 U.S. official reserve assets 41.9 94.6 95.4 103.9 102.8 96.4 99.0 98.2 99.2 96.4 95.8 2

 3 Checkable deposits and currency 447.8 292.7 446.8 205.8 209.8 287.2 194.5 247.6 204.5 287.2 263.5 3

 4 Time and savings deposits 239.8 249.9 243.6 258.5 291.9 304.1 295.5 293.9 301.6 304.1 309.2 4

 5 Money market fund shares 125.7 135.5 149.2 152.6 158.0 162.9 161.7 164.2 163.3 162.9 164.8 5

 6 Security repurchase agreements 129.8 125.5 124.1 120.5 125.2 129.6 128.2 130.4 129.8 129.6 131.2 6

 7 Credit market instruments 1340.8 1628.9 1769.5 1767.7 1862.8 1973.6 1920.8 1942.1 1967.4 1973.6 2017.2 7

 8 Open market paper 127.5 88.4 101.4 90.2 83.0 75.2 82.4 81.1 78.0 75.2 73.6 8

 9 Agency- and GSE-backed securities (1) 532.8 684.4 659.7 533.7 492.6 480.1 497.1 497.9 488.2 480.1 479.0 9

10 Municipal securities 10.4 11.4 12.8 13.1 13.4 13.6 13.6 13.8 13.7 13.6 13.7 10

11 Corporate and foreign bonds 152.8 156.6 164.4 163.5 166.7 169.3 169.8 171.9 170.3 169.3 170.7 11

12 Mortgages 283.1 300.6 308.0 311.5 317.3 324.6 323.1 325.5 324.5 324.6 326.8 12

13 Consumer credit 135.1 223.1 356.2 484.7 616.8 729.8 659.5 674.6 713.5 729.8 770.9 13

14 Other loans and advances (2) 99.1 164.3 167.0 171.0 173.1 181.0 175.3 177.4 179.2 181.0 182.6 14

15 Corporate equities 279.5 178.8 175.7 182.2 178.3 200.1 188.1 190.5 192.3 200.1 202.1 15

16 Mutual fund shares 36.2 48.3 58.1 58.9 66.1 79.8 71.8 73.4 75.7 79.8 80.9 16

17 Trade receivables 208.5 182.8 195.1 202.2 210.6 217.9 211.2 217.2 218.1 217.9 219.6 17

18 Taxes receivable 242.4 250.9 262.1 272.8 279.9 289.6 282.2 284.8 287.4 289.6 296.2 18

19 Miscellaneous assets 203.7 263.9 237.0 238.5 243.9 255.7 247.7 247.2 251.2 255.7 259.8 19

20 Total liabilities 13512.1 15120.6 17243.2 18740.8 19997.0 20579.8 20236.3 20246.3 20399.2 20579.8 20919.8 20

21 SDR allocations 7.5 55.4 54.4 54.2 54.3 54.4 52.9 53.1 54.2 54.4 54.6 21

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

23 Treasury currency 26.6 26.2 25.9 25.9 25.9 25.6 25.9 25.9 25.6 25.6 25.6 23

24 Credit market instruments 8602.8 10176.3 11818.4 12865.4 13960.8 14694.7 14302.9 14269.5 14334.9 14694.7 14950.4 24

25 Savings bonds 194.1 191.3 188.0 185.3 182.5 179.2 181.8 181.0 180.0 179.2 178.4 25

26 Treasury bills and other Treasury securities (3) 5542.7 7006.7 8582.7 9684.9 10789.0 11566.1 11117.7 11093.2 11192.7 11566.1 11832.6 26

27 Budget agency securities 23.3 23.5 24.2 25.3 24.9 24.5 24.6 25.0 25.1 24.5 24.0 27

28 Municipal securities 2842.7 2954.9 3023.6 2970.0 2964.3 2924.9 2978.9 2970.4 2937.0 2924.9 2915.5 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 852.4 835.1 879.9 927.7 982.0 1040.0 1001.4 1019.9 1034.3 1040.0 1058.2 30

31 Insurance reserves 46.4 47.5 48.4 49.7 50.0 50.3 50.1 50.2 50.1 50.3 50.3 31

32 Miscellaneous liabilities (4) 3974.2 3974.9 4411.0 4812.6 4918.8 4709.7 4797.8 4822.4 4895.0 4709.7 4775.6 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.
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F.115.g Life Insurance Companies: General Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 132.8 92.1 126.9 176.4 56.5 84.6 71.5 31.7 80.7 154.5 234.1 1

 2 Checkable deposits and currency 21.8 -27.4 -2.0 3.0 1.4 -4.8 4.5 -38.7 36.2 -21.2 12.1 2

 3 Money market fund shares 17.5 -5.5 -12.7 7.9 -1.4 -5.9 -27.4 -6.2 10.0 0.1 -5.0 3

 4 Security repurchase agreements 5.2 2.2 0.7 -0.8 -1.6 -0.0 -6.9 -0.5 5.4 2.0 -7.7 4

 5 Credit market instruments 12.5 139.0 111.7 122.4 37.9 70.1 37.4 72.6 48.4 121.8 127.0 5

 6 Open market paper 0.1 15.5 -12.0 -12.6 15.9 1.4 -20.7 -6.4 7.2 25.4 -10.2 6

 7 Treasury securities 36.3 26.1 15.2 10.3 1.3 -11.3 -18.3 -10.8 -8.0 -8.2 12.1 7

 8 Agency- and GSE-backed securities -36.5 2.7 -5.6 -1.5 -4.9 -6.6 -5.2 -5.4 -10.9 -4.7 -8.3 8

 9 Municipal securities 3.0 25.9 39.5 9.2 9.0 9.2 9.6 9.7 7.2 10.3 -0.5 9

10 Corporate and foreign bonds -22.5 93.4 83.4 93.3 1.6 57.0 72.5 64.3 25.1 66.1 115.6 10

11 Other loans and advances 20.2 -12.6 -0.2 7.9 1.9 3.5 -3.3 6.9 3.5 7.0 4.9 11

12 Mortgages 12.0 -12.0 -8.6 15.8 13.1 16.9 2.9 14.4 24.3 25.9 13.5 12

13 Corporate equities 5.1 1.5 4.0 0.3 -2.5 0.8 -9.3 6.5 -15.6 21.7 2.0 13

14 Mutual fund shares -1.8 -0.1 -0.1 0.7 0.2 -0.2 -0.7 -0.1 0.0 0.0 0.0 14

15 Miscellaneous assets 72.4 -17.6 25.3 43.0 22.5 24.6 73.9 -1.9 -3.7 30.0 105.7 15

16 Net increase in liabilities 122.3 12.4 91.2 151.2 17.8 68.7 46.8 38.2 86.8 102.8 201.1 16

17 Security repurchase agreements -7.3 -0.5 -2.2 0.1 3.1 -0.8 0.5 0.6 -1.8 -2.5 -4.2 17

18 Corporate equity issues -10.7 -0.9 -4.8 -11.5 -9.9 -9.2 -6.6 -9.7 -10.7 -9.6 -13.2 18

19 Other loans and advances 26.2 -6.6 -3.2 1.8 4.8 7.8 5.2 6.5 -2.9 22.5 7.7 19

20 Life insurance reserves 53.0 36.8 32.0 73.0 -6.2 28.3 10.1 26.5 44.3 32.4 63.3 20

21 Pension entitlements (1) 66.3 -89.7 41.7 28.8 3.0 30.6 9.4 9.8 47.0 56.0 72.2 21

22 Taxes payable (net) -19.7 -7.0 2.6 5.2 -4.6 -2.3 -0.6 -6.7 0.0 -1.8 6.1 22

23 Miscellaneous liabilities 14.4 80.3 25.2 53.8 27.7 14.2 28.9 11.2 10.9 5.9 69.3 23

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 23).

F.115.s Life Insurance Companies: Separate Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 33.2 24.3 54.6 52.6 70.5 18.1 25.4 -70.3 95.2 21.9 23.7 1

 2 Checkable deposits and currency 2.6 -4.7 3.0 -0.9 1.3 -4.4 -4.7 -4.6 -4.3 -4.1 0.0 2

 3 Credit market instruments -0.9 0.8 39.9 3.0 36.4 4.7 4.5 4.6 4.7 5.2 0.8 3

 4 Open market paper -3.5 -4.0 3.1 1.4 -2.0 1.8 1.7 1.8 1.8 1.8 0.0 4

 5 Treasury securities -1.1 1.6 8.0 8.5 4.2 2.0 1.6 1.6 1.6 3.2 0.0 5

 6 Agency- and GSE-backed securities 19.8 3.1 9.6 -0.0 -8.5 -2.0 -1.7 -1.7 -1.7 -2.9 0.0 6

 7 Municipal securities 2.7 0.2 -0.3 0.2 0.7 0.5 0.5 0.5 0.5 0.4 0.2 7

 8 Corporate and foreign bonds -23.0 4.2 19.5 -6.2 43.3 0.6 0.5 0.6 0.6 0.6 0.6 8

 9 Other loans and advances 0.0 -0.0 -0.0 -0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Mortgages 4.3 -4.3 -0.0 -0.8 -1.1 1.9 1.8 1.9 2.0 2.0 0.0 10

11 Corporate equities 76.7 31.9 41.6 37.5 17.7 12.6 12.1 12.7 12.8 12.8 28.6 11

12 Mutual fund shares -8.9 0.1 1.1 0.4 1.1 1.5 2.0 1.4 1.4 1.4 1.4 12

13 Miscellaneous assets -36.3 -3.8 -31.0 12.7 13.9 3.6 11.5 -84.4 80.6 6.6 -7.1 13

14 Net increase in liabilities 30.8 19.8 53.8 52.5 72.7 18.5 27.5 -70.9 95.7 21.6 23.8 14

15 Life insurance reserves 11.1 -10.5 -18.4 6.9 -5.9 1.4 1.4 1.4 1.4 1.4 2.6 15

16 Pension entitlements (1) 41.2 44.0 51.3 49.2 69.7 16.9 27.5 16.5 11.8 11.6 3.8 16

17 Miscellaneous liabilities -21.6 -13.6 20.8 -3.5 8.9 0.2 -1.4 -88.8 82.4 8.6 17.3 17

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 17).
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L.115.g Life Insurance Companies: General Accounts

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3157.2 3208.3 3335.5 3512.5 3570.3 3657.0 3591.0 3599.7 3630.2 3657.0 3715.6 1

 2 Checkable deposits and currency 61.8 34.4 32.4 35.3 36.7 31.9 37.8 28.1 37.2 31.9 34.9 2

 3 Money market fund shares 39.2 33.7 21.0 28.8 27.5 21.6 20.6 19.1 21.6 21.6 20.3 3

 4 Security repurchase agreements 8.0 10.2 10.9 10.1 8.5 8.5 6.8 6.6 8.0 8.5 6.6 4

 5 Credit market instruments 2636.2 2775.3 2887.0 3009.3 3047.3 3117.3 3056.1 3076.2 3092.4 3117.3 3148.8 5

 6 Open market paper 17.7 33.2 21.2 8.6 24.5 25.9 19.8 19.7 24.0 25.9 23.8 6

 7 Treasury securities 87.6 113.7 128.9 139.2 140.5 129.2 135.9 133.2 131.2 129.2 132.2 7

 8 Agency- and GSE-backed securities 286.5 289.2 283.5 282.0 277.1 270.5 275.8 274.4 271.7 270.5 268.4 8

 9 Municipal securities 42.9 68.8 108.3 117.5 126.6 135.7 129.0 131.4 133.2 135.7 135.6 9

10 Corporate and foreign bonds 1708.3 1814.3 1897.7 1991.0 1992.6 2049.6 2010.8 2026.8 2033.1 2049.6 2078.6 10

11 Other loans and advances 165.5 140.4 140.2 148.1 150.0 153.6 149.2 150.9 151.8 153.6 154.8 11

12 Mortgages 327.8 315.7 307.1 322.9 336.0 352.8 335.7 339.7 347.4 352.8 355.3 12

13 Corporate equities 110.1 70.3 74.3 75.3 74.0 76.5 75.2 76.0 77.3 76.5 77.8 13

14 Mutual fund shares 2.2 2.4 2.6 3.1 3.4 3.7 3.4 3.4 3.5 3.7 3.7 14

15 Miscellaneous assets 299.7 282.1 307.4 350.5 372.9 397.5 391.1 390.3 390.3 397.5 423.5 15

16 Total liabilities 2898.3 2911.6 3007.6 3170.3 3198.0 3275.9 3211.4 3223.4 3247.8 3275.9 3329.5 16

17 Security repurchase agreements 12.9 12.4 10.3 10.4 13.5 12.7 13.7 13.8 13.4 12.7 11.7 17

18 Other loans and advances 54.9 48.3 45.1 46.8 51.6 59.4 52.9 54.5 53.8 59.4 61.3 18

19 Life insurance reserves 932.7 969.5 1001.5 1074.5 1068.3 1096.6 1070.8 1077.4 1088.5 1096.6 1112.4 19

20 Pension entitlements (1) 1256.7 1167.0 1208.7 1237.4 1240.4 1270.9 1242.8 1245.2 1257.0 1270.9 1289.0 20

21 Taxes payable (net) -24.4 -31.4 -28.8 -23.6 -28.3 -30.5 -28.4 -30.1 -30.1 -30.5 -29.0 21

22 Miscellaneous liabilities 665.4 745.7 771.0 824.8 852.5 866.7 859.7 862.6 865.3 866.7 884.1 22

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 22).

L.115.s Life Insurance Companies: Separate Accounts

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

 1 Total financial assets 1357.2 1615.6 1832.4 1827.6 2044.4 2320.3 2147.6 2151.1 2226.8 2320.3 2340.8 1

 2 Checkable deposits and currency 21.0 16.3 19.3 18.4 19.7 15.3 18.5 17.4 16.3 15.3 15.3 2

 3 Credit market instruments 246.6 247.4 287.3 290.2 326.6 331.4 327.8 328.9 330.1 331.4 331.6 3

 4 Open market paper 20.6 16.6 19.7 21.1 19.1 20.9 19.5 20.0 20.4 20.9 20.9 4

 5 Treasury securities 18.1 19.8 27.7 36.2 40.4 42.4 40.8 41.2 41.6 42.4 42.4 5

 6 Agency- and GSE-backed securities 79.7 82.8 92.4 92.4 83.8 81.8 83.4 83.0 82.6 81.8 81.8 6

 7 Municipal securities 4.2 4.3 4.0 4.3 4.9 5.4 5.1 5.2 5.3 5.4 5.5 7

 8 Corporate and foreign bonds 108.8 112.9 132.5 126.2 169.6 170.1 169.7 169.9 170.0 170.1 170.3 8

 9 Other loans and advances 0.6 0.6 0.5 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 9

10 Mortgages 14.7 10.4 10.3 9.6 8.5 10.4 8.9 9.4 9.8 10.4 10.4 10

11 Corporate equities 891.6 1138.1 1328.2 1314.9 1471.0 1717.9 1563.1 1586.5 1635.0 1717.9 1739.1 11

12 Mutual fund shares 118.8 138.4 153.1 147.0 155.9 181.1 164.2 165.4 172.4 181.1 181.9 12

13 Miscellaneous assets 79.3 75.5 44.5 57.2 71.1 74.7 74.0 52.9 73.0 74.7 72.9 13

14 Total liabilities 1366.7 1620.7 1836.6 1831.9 2050.8 2327.0 2154.5 2157.8 2233.7 2327.0 2347.5 14

15 Life insurance reserves 200.7 225.0 228.4 227.8 240.7 269.7 249.3 252.2 258.8 269.7 272.1 15

16 Pension entitlements (1) 962.5 1183.4 1359.9 1364.3 1547.9 1770.8 1633.4 1655.1 1698.5 1770.8 1783.2 16

17 Miscellaneous liabilities 203.5 212.2 248.4 239.8 262.1 286.5 271.8 250.6 276.5 286.5 292.2 17

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 17).
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F.117.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (1) 57.1 57.3 53.3 50.9 50.7 50.7 50.7 50.7 50.7 50.7 50.7 1

 2 Checkable deposits and currency -4.2 -2.6 2.7 1.8 -0.4 -0.3 -0.1 -0.5 -0.7 0.1 0.6 2

 3 Time and savings deposits -5.5 3.4 -0.2 1.2 -1.3 -0.9 -0.2 -1.4 -2.0 0.1 1.9 3

 4 Money market fund shares -15.1 0.4 -5.1 -0.3 -1.5 -0.9 -0.2 -1.6 -2.1 0.2 -0.8 4

 5 Security repurchase agreements -1.0 0.2 -0.2 0.0 -0.1 -0.1 -0.0 -0.1 -0.2 0.0 0.2 5

 6 Credit market instruments -52.9 4.1 71.7 78.0 3.0 32.9 11.1 38.0 40.8 41.7 -1.4 6

 7 Open market paper -7.9 3.2 -1.0 1.1 -1.7 -4.2 -0.2 -1.5 -8.0 -7.2 2.3 7

 8 Treasury securities -10.9 12.7 7.4 19.3 27.1 25.9 36.5 31.1 19.0 16.8 10.4 8

 9 Agency- and GSE-backed securities -23.3 -6.6 2.7 14.3 12.4 9.3 7.5 9.2 9.9 10.7 -1.4 9

10 Corporate and foreign bonds -3.1 -3.3 61.4 45.8 -32.9 4.1 -30.7 1.4 22.0 23.7 -10.9 10

11 Mortgages -7.7 -2.0 1.2 -2.4 -1.9 -2.2 -2.0 -2.2 -2.2 -2.3 -1.7 11

12 Corporate equities -70.1 -41.8 -4.1 -65.4 1.9 -25.5 -12.8 -24.2 -27.3 -37.8 -7.3 12

13 Mutual fund shares 52.0 -8.0 -10.8 12.5 0.7 -10.3 11.0 -9.4 -10.6 -32.4 -2.8 13

14 Miscellaneous assets 154.0 101.7 -0.4 23.1 48.4 55.8 41.8 49.8 52.8 78.8 60.4 14

15 Unallocated insurance contracts (2) 4.0 -2.4 -8.2 12.7 1.1 -0.6 0.5 -0.5 1.3 -3.7 1.5 15

16 Contributions receivable 16.7 -5.3 13.4 1.7 -0.7 -1.2 0.5 -0.1 -0.9 -4.3 -0.4 16

17 Claims of pension fund on sponsor (3) 123.0 82.7 -14.9 -12.5 50.1 54.9 48.9 36.4 50.2 84.1 32.6 17

18 Other 10.2 26.8 9.3 21.2 -2.1 2.7 -8.0 14.1 2.1 2.7 26.7 18

19 Net increase in pension entitlements (liabilities) (4) 57.5 57.3 53.4 50.8 50.7 50.7 50.7 50.7 50.7 50.7 50.7 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

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

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

F.117.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 69.2 92.2 129.1 35.5 74.4 93.8 67.1 129.3 90.0 88.9 93.4 1

 2 Checkable deposits and currency -1.3 -0.3 -0.5 4.0 0.1 -0.3 -0.0 2.2 -0.8 -2.4 0.5 2

 3 Time and savings deposits 1.3 -0.6 -0.7 0.2 -0.5 0.3 0.2 -0.2 1.2 0.2 -0.1 3

 4 Money market fund shares 20.3 -9.1 -5.0 17.2 -2.4 -0.6 -0.1 -0.4 -3.8 2.0 -5.8 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 48.1 8.6 51.5 -4.8 9.4 11.9 17.5 32.0 3.5 -5.4 -1.5 6

 7 Open market paper 2.0 -2.2 -1.7 1.1 -1.1 0.2 2.1 -1.2 1.3 -1.3 3.1 7

 8 Treasury securities 17.3 22.2 25.9 8.5 20.9 14.3 23.6 20.6 8.5 4.4 5.4 8

 9 Agency- and GSE-backed securities 23.1 0.2 3.8 -11.0 4.7 4.3 1.8 7.1 3.7 4.8 -6.0 9

10 Corporate and foreign bonds 6.0 -11.2 22.0 -1.2 -14.4 -6.3 -9.3 6.1 -9.2 -12.7 -3.3 10

11 Mortgages -0.3 -0.4 1.6 -2.2 -0.7 -0.7 -0.7 -0.7 -0.8 -0.5 -0.7 11

12 Corporate equities -3.0 -53.6 29.3 1.6 9.5 30.1 27.4 39.0 21.3 32.5 2.5 12

13 Mutual fund shares 33.5 64.5 45.9 -11.0 54.0 37.3 27.9 36.1 54.0 31.3 42.3 13

14 Miscellaneous assets -29.7 82.6 8.6 28.5 4.3 15.1 -5.8 20.6 14.6 30.8 55.5 14

15 Unallocated insurance contracts (2) -17.9 82.5 1.2 5.0 4.9 8.2 6.0 6.4 9.9 10.6 23.2 15

16 Contributions receivable -2.0 -3.1 2.1 1.3 -0.1 0.3 0.4 0.5 -0.2 0.4 -0.5 16

17 Other -9.8 3.2 5.4 22.2 -0.5 6.6 -12.2 13.8 4.9 19.8 32.8 17

18 Net increase in pension entitlements (liabilities) 69.2 92.2 129.1 35.5 74.4 93.8 67.1 129.3 90.0 88.9 93.4 18

(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.226.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total held at: 248.3 136.5 51.8 -26.6 94.2 -136.8 -396.7 -125.1 242.2 -267.8 ND 1

 2 U.S.-chartered depository institutions 44.2 30.7 26.6 20.3 24.4 -0.4 -15.4 38.4 2.3 -26.9 ND 2

 3 Credit unions 7.2 8.7 3.0 1.2 1.4 -0.7 0.1 0.1 -0.1 -2.8 ND 3

 4 Life insurance companies 23.3 -12.4 17.4 12.2 12.2 16.7 6.0 -6.9 21.1 46.5 ND 4

 5 Money market mutual funds 47.0 -42.0 -24.0 9.0 7.0 10.0 -24.0 56.0 24.0 -16.0 ND 5

 6 Mutual funds -117.0 149.7 124.2 43.0 86.4 103.0 176.0 -31.1 119.8 147.1 ND 6

 7 Other self-directed accounts 243.6 1.8 -95.4 -112.4 -37.2 -265.4 -539.4 -181.6 75.0 -415.8 ND 7

(1) Assets of the household sector (F.100). IRA assets are not included in pension entitlements (table F.226), except for those at life insurance companies. Figures for depositories (lines 2 and 3)

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 4) and are excluded from the mutual fund sector (line 6) and from the money market fund sector (line 5).
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L.117.b Private Pension Funds: Defined Benefit Plans

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (1) 2572.9 2626.3 2835.7 2916.6 3017.8 3068.5 3030.5 3043.2 3055.8 3068.5 3081.2 1

 2 Checkable deposits and currency 7.7 5.0 7.7 9.5 9.1 8.8 9.0 8.9 8.8 8.8 8.9 2

 3 Time and savings deposits 24.3 27.7 27.5 28.7 27.4 26.6 27.4 27.0 26.5 26.6 27.0 3

 4 Money market fund shares 39.5 39.8 34.7 34.3 32.8 31.9 32.7 32.3 31.8 31.9 31.6 4

 5 Security repurchase agreements 2.8 2.9 2.7 2.7 2.6 2.5 2.6 2.5 2.5 2.5 2.6 5

 6 Credit market instruments 539.4 543.5 615.1 693.2 696.2 729.1 699.0 708.5 718.7 729.1 728.8 6

 7 Open market paper 28.0 31.2 30.2 31.3 29.6 25.4 29.5 29.2 27.2 25.4 26.0 7

 8 Treasury securities 99.3 112.1 119.4 138.8 165.8 191.7 174.9 182.7 187.5 191.7 194.3 8

 9 Agency- and GSE-backed securities 122.8 116.3 119.0 133.3 145.8 155.1 147.6 149.9 152.4 155.1 154.7 9

10 Corporate and foreign bonds 270.2 266.9 328.3 374.1 341.1 345.2 333.4 333.8 339.3 345.2 342.5 10

11 Mortgages 19.0 17.0 18.2 15.8 13.9 11.8 13.4 12.9 12.3 11.8 11.3 11

12 Corporate equities 726.1 863.8 1010.7 929.5 1035.5 1227.5 1104.7 1115.3 1167.0 1227.5 1247.2 12

13 Mutual fund shares 257.3 322.9 349.8 356.6 397.3 471.0 427.9 431.9 452.0 471.0 478.5 13

14 Miscellaneous assets 975.9 820.6 787.5 862.0 817.0 571.2 727.2 716.7 648.6 571.2 556.5 14

15 Unallocated insurance contracts (2) 54.6 57.8 53.0 64.5 68.8 73.9 71.3 71.4 73.0 73.9 74.6 15

16 Contributions receivable 55.1 49.8 63.1 64.8 64.1 62.9 64.2 64.2 63.9 62.9 62.8 16

17 Claims of pension fund on sponsor (3) 677.4 497.6 446.5 486.6 440.2 187.7 349.7 335.6 265.7 187.7 165.8 17

18 Other 188.7 215.5 224.8 246.0 244.0 246.7 242.0 245.5 246.0 246.7 253.4 18

19 Pension entitlements (liabilities) (4) 2608.2 2662.7 2872.2 2953.1 3054.3 3105.0 3067.0 3079.7 3092.4 3105.0 3117.7 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

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

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.117.c Private Pension Funds: Defined Contribution Plans (1)

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

 1 Total financial assets 2687.5 3314.3 3754.6 3725.9 4103.8 4905.1 4391.3 4479.1 4669.6 4905.1 4983.2 1

 2 Checkable deposits and currency 5.7 5.4 4.8 8.8 8.9 8.7 8.9 9.5 9.3 8.7 8.8 2

 3 Time and savings deposits 5.9 5.3 4.6 4.7 4.2 4.5 4.3 4.2 4.5 4.5 4.5 3

 4 Money market fund shares 116.8 107.6 102.6 119.8 117.4 116.8 117.4 117.3 116.3 116.8 115.4 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 243.4 252.0 303.5 298.6 308.1 320.0 312.5 320.5 321.3 320.0 319.6 6

 7 Open market paper 16.3 14.1 12.4 13.5 12.4 12.6 12.9 12.6 12.9 12.6 13.4 7

 8 Treasury securities 48.1 70.3 96.2 104.7 125.6 139.8 131.5 136.6 138.7 139.8 141.2 8

 9 Agency- and GSE-backed securities 67.5 67.7 71.4 60.4 65.1 69.5 65.6 67.4 68.3 69.5 68.0 9

10 Corporate and foreign bonds 104.4 93.2 115.1 114.0 99.6 93.3 97.2 98.8 96.5 93.3 92.5 10

11 Mortgages 7.2 6.7 8.4 6.1 5.5 4.8 5.3 5.1 4.9 4.8 4.6 11

12 Corporate equities 654.3 783.3 927.6 896.6 1006.1 1256.3 1101.1 1123.1 1179.2 1256.3 1270.1 12

13 Mutual fund shares 1104.9 1504.7 1734.9 1696.1 1943.4 2449.5 2125.2 2176.8 2303.4 2449.5 2500.5 13

14 Miscellaneous assets 556.7 656.1 676.6 701.2 715.7 749.4 721.9 727.8 735.5 749.4 764.3 14

15 Unallocated insurance contracts (2) 228.3 327.6 340.6 341.7 356.8 383.7 366.0 368.3 374.8 383.7 390.5 15

16 Contributions receivable 28.9 25.8 27.9 29.2 29.1 29.3 29.2 29.3 29.2 29.3 29.2 16

17 Other 299.4 302.7 308.1 330.3 329.8 336.4 326.7 330.2 331.4 336.4 344.6 17

18 Pension entitlements (liabilities) 2687.5 3314.3 3754.6 3725.9 4103.8 4905.1 4391.3 4479.1 4669.6 4905.1 4983.2 18

(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.226.i Individual Retirement Accounts (IRAs) (1)

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

 1 Total held at: 3681.0 4488.0 5029.0 5001.0 5561.0 6521.0 5852.0 5910.0 6193.0 6521.0 ND 1

 2 U.S.-chartered depository institutions 326.0 356.7 383.3 403.6 428.0 427.6 424.2 433.8 434.4 427.6 ND 2

 3 Credit unions 65.5 74.2 77.2 78.4 79.9 79.2 79.9 79.9 79.9 79.2 ND 3

 4 Life insurance companies 376.0 399.0 435.0 441.0 472.0 523.0 487.0 488.0 500.0 523.0 ND 4

 5 Money market mutual funds 268.0 226.0 202.0 211.0 218.0 228.0 212.0 226.0 232.0 228.0 ND 5

 6 Mutual funds 1276.0 1669.0 1936.0 1898.0 2156.0 2619.0 2308.0 2319.0 2454.0 2619.0 ND 6

 7 Other self-directed accounts 1369.5 1763.1 1995.5 1968.9 2207.1 2644.2 2341.0 2363.3 2492.8 2644.2 ND 7

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension entitlements (table L.226), except for those at life insurance companies. Figures for depositories

 (lines 2 and 3) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 4) and are excluded from the mutual fund sector (line 6) and from the money market fund sector (line 5).
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F.127.e Equity Real Estate Investment Trusts (REITs)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 2.2 29.7 -0.8 8.1 14.1 13.3 -5.3 19.9 24.8 13.6 29.3 1

 2 Checkable deposits and currency 2.1 10.3 -4.1 -2.3 4.1 1.0 -2.8 7.0 19.1 -19.1 -3.4 2

 3 Credit market instruments 2.4 6.2 0.7 2.3 1.5 -1.9 -11.2 1.4 -0.3 2.4 3.1 3

 4 Corporate and foreign bonds 0.2 2.1 0.4 -0.6 -0.2 -1.8 -4.0 -0.3 -1.0 -2.0 0.6 4

 5 Mortgages 2.2 4.0 0.4 2.9 1.6 -0.1 -7.1 1.7 0.6 4.4 2.5 5

 6 Home 0.0 0.0 0.0 0.1 0.0 0.0 -0.1 0.0 -0.0 0.1 -0.1 6

 7 Multifamily residential 0.2 -0.2 0.0 -0.0 0.1 -0.0 -0.2 0.9 -0.2 -0.6 -0.1 7

 8 Commercial 2.0 4.2 0.3 2.9 1.5 -0.1 -6.9 0.7 0.9 4.9 2.7 8

 9 Miscellaneous assets -2.3 13.2 2.6 8.1 8.5 14.2 8.7 11.5 6.1 30.3 29.6 9

10 Net increase in liabilities 2.3 2.9 -0.4 37.4 38.5 36.4 -3.2 20.2 48.0 80.5 49.7 10

11 Credit market instruments 7.9 6.6 0.1 32.8 33.9 34.5 3.9 20.5 38.8 74.8 47.6 11

12 Corporate bonds -1.4 4.7 1.0 13.2 27.6 28.9 3.7 10.0 35.4 66.5 29.1 12

13 Depository institution loans n.e.c. 2.5 -9.8 -1.8 6.1 1.4 -2.2 -20.4 5.9 17.8 -11.9 10.7 13

14 Mortgages 6.8 11.8 0.8 13.5 4.8 7.8 20.6 4.6 -14.3 20.2 7.8 14

15 Multifamily residential 2.3 2.3 0.4 0.1 -1.1 3.3 18.3 -0.6 -1.7 -2.7 -1.8 15

16 Commercial 4.5 9.5 0.4 13.3 6.0 4.5 2.3 5.2 -12.7 22.9 9.5 16

17 Miscellaneous liabilities -5.5 -3.8 -0.5 4.6 4.6 1.9 -7.1 -0.4 9.2 5.7 2.2 17

F.127.m Mortgage Real Estate Investment Trusts (REITs)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets -69.8 -17.3 40.5 123.1 146.9 -100.7 10.4 -43.0 -150.4 -220.0 -13.4 1

 2 Checkable deposits and currency -0.3 2.1 -1.6 4.8 3.6 -2.3 25.1 -20.6 -9.4 -4.4 -0.9 2

 3 Credit market instruments -71.0 -16.4 43.3 117.9 126.1 -95.8 -28.0 -47.3 -80.6 -227.5 -29.0 3

 4 Agency- and GSE-backed securities 0.7 15.6 38.2 104.7 109.5 -95.6 -46.7 -73.4 -82.7 -179.7 -33.7 4

 5 Corporate and foreign bonds -23.0 2.2 6.8 4.4 9.7 1.6 17.1 -0.1 2.1 -12.6 -5.3 5

 6 Mortgages -48.8 -34.2 -1.7 8.8 6.9 -1.9 1.7 26.1 -0.0 -35.2 10.1 6

 7 Home -46.1 -25.3 0.1 10.9 6.8 -3.3 0.9 18.3 0.0 -32.4 4.4 7

 8 Multifamily residential -1.1 -1.8 -0.3 -0.2 0.1 0.5 1.3 1.7 -0.2 -0.6 -0.7 8

 9 Commercial -1.6 -7.1 -1.5 -1.9 -0.0 0.9 -0.4 6.1 0.1 -2.2 6.4 9

10 Miscellaneous assets 1.5 -3.0 -1.2 0.4 17.2 -2.6 13.2 24.9 -60.4 11.8 16.5 10

11 Net increase in liabilities -71.2 -24.6 34.4 93.1 124.9 -83.8 -10.6 -24.4 -150.3 -150.0 -18.1 11

12 Security repurchase agreements -12.3 11.1 29.9 97.7 102.4 -66.6 5.8 -48.9 -84.1 -139.3 -47.2 12

13 Credit market instruments -61.7 -34.2 -0.1 -7.2 1.6 8.7 4.1 19.0 -0.8 12.5 2.7 13

14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Corporate bonds -58.9 -31.4 -0.0 -5.7 -0.9 9.5 7.2 16.7 -0.8 15.0 1.2 15

16 Depository institution loans n.e.c. -2.8 -2.8 -0.0 -1.5 2.5 -0.8 -3.1 2.4 0.0 -2.5 1.5 16

17 Miscellaneous liabilities 2.8 -1.5 4.6 2.5 20.9 -25.9 -20.5 5.5 -65.4 -23.2 26.4 17

 Memo:

18 Securitized assets included above -46.7 -26.8 -0.5 -3.8 1.3 2.6 1.3 7.1 1.4 0.8 -1.0 18

19 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Home mortgages -40.6 -25.7 1.1 -0.7 3.7 4.0 1.7 8.2 0.5 5.7 -0.2 20

21 Multifamily residential mortgages -0.0 -0.0 -0.0 -0.0 -0.0 0.0 0.1 -0.0 -0.0 -0.1 -0.2 21

22 Commercial mortgages -6.1 -1.1 -1.6 -3.0 -2.4 -1.4 -0.6 -1.0 0.9 -4.8 -0.7 22
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L.127.e Equity Real Estate Investment Trusts (REITs)

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 65.4 95.1 94.3 102.3 116.4 129.7 115.1 120.1 126.3 129.7 137.0 1

 2 Checkable deposits and currency 13.1 23.4 19.3 17.0 21.1 22.1 20.4 22.1 26.9 22.1 21.3 2

 3 Credit market instruments 14.4 20.6 21.3 23.6 25.0 23.1 22.2 22.6 22.5 23.1 23.8 3

 4 Corporate and foreign bonds 2.9 5.0 5.4 4.8 4.6 2.8 3.6 3.5 3.3 2.8 2.9 4

 5 Mortgages 11.5 15.5 15.9 18.8 20.4 20.3 18.6 19.0 19.2 20.3 20.9 5

 6 Home 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 6

 7 Multifamily residential 0.5 0.3 0.3 0.3 0.4 0.3 0.3 0.5 0.5 0.3 0.3 7

 8 Commercial 10.9 15.1 15.5 18.3 19.9 19.8 18.1 18.3 18.5 19.8 20.4 8

 9 Miscellaneous assets 37.9 51.1 53.7 61.8 70.3 84.5 72.5 75.4 76.9 84.5 91.9 9

10 Total liabilities 344.3 347.2 346.8 384.1 422.6 459.0 421.8 426.9 438.9 459.0 471.4 10

11 Credit market instruments 294.1 300.8 300.9 333.6 367.5 402.0 368.5 373.6 383.3 402.0 413.9 11

12 Corporate bonds 102.6 107.3 108.4 121.6 149.2 178.1 150.2 152.7 161.5 178.1 185.4 12

13 Depository institution loans n.e.c. 28.0 18.2 16.4 22.5 23.9 21.7 18.8 20.3 24.7 21.7 24.4 13

14 Mortgages 163.5 175.3 176.1 189.5 194.4 202.2 199.5 200.7 197.1 202.2 204.1 14

15 Multifamily residential 25.1 27.3 27.8 27.9 26.7 30.0 31.3 31.1 30.7 30.0 29.6 15

16 Commercial 138.4 147.9 148.3 161.7 167.7 172.1 168.3 169.6 166.4 172.1 174.5 16

17 Miscellaneous liabilities 50.2 46.4 45.9 50.5 55.1 57.0 53.3 53.2 55.5 57.0 57.5 17

L.127.m Mortgage Real Estate Investment Trusts (REITs)

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

 1 Total financial assets 185.2 167.7 208.1 331.1 477.8 376.9 480.4 469.6 432.0 376.9 373.6 1

 2 Checkable deposits and currency 5.3 7.4 5.8 10.7 14.2 11.9 20.5 15.3 13.0 11.9 11.7 2

 3 Credit market instruments 163.1 146.6 189.9 307.6 433.5 337.6 426.5 414.6 394.4 337.6 330.3 3

 4 Agency- and GSE-backed securities 89.6 105.2 143.4 248.1 357.6 261.9 345.9 327.5 306.9 261.9 253.5 4

 5 Corporate and foreign bonds 8.7 11.0 17.8 22.2 31.9 33.6 36.2 36.2 36.7 33.6 32.2 5

 6 Mortgages 64.8 30.5 28.7 37.3 44.1 42.1 44.4 50.9 50.9 42.1 44.6 6

 7 Home 34.2 8.8 8.8 19.6 26.3 22.9 26.4 31.0 31.0 22.9 23.9 7

 8 Multifamily residential 3.8 2.0 1.6 1.4 1.5 2.0 1.8 2.2 2.2 2.0 1.9 8

 9 Commercial 26.8 19.7 18.2 16.3 16.3 17.2 16.2 17.7 17.7 17.2 18.8 9

10 Miscellaneous assets 16.7 13.7 12.5 12.8 30.1 27.5 33.4 39.6 24.5 27.5 31.6 10

11 Total liabilities 167.3 142.7 177.2 270.3 395.2 311.4 392.5 386.4 348.9 311.4 306.8 11

12 Security repurchase agreements 79.4 90.5 120.4 218.1 320.6 254.0 322.0 309.8 288.8 254.0 242.2 12

13 Credit market instruments 73.3 39.1 39.0 31.9 33.5 42.2 34.5 39.2 39.0 42.2 42.8 13

14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Corporate bonds 68.4 37.1 37.0 31.3 30.4 39.9 32.2 36.4 36.1 39.9 40.2 15

16 Depository institution loans n.e.c. 4.8 2.0 2.0 0.5 3.1 2.3 2.3 2.9 2.9 2.3 2.6 16

17 Miscellaneous liabilities 14.7 13.2 17.8 20.3 41.2 15.2 36.0 37.4 21.1 15.2 21.9 17

 Memo:

18 Securitized assets included above 45.4 18.6 18.1 14.3 15.6 18.3 16.0 17.7 18.1 18.3 18.0 18

19 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Home mortgages 31.8 6.1 7.2 6.5 10.2 14.2 10.6 12.6 12.8 14.2 14.1 20

21 Multifamily residential mortgages 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 21

22 Commercial mortgages 13.2 12.2 10.6 7.5 5.2 3.8 5.0 4.8 5.0 3.8 3.6 22
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S.1.a Total Economy - Current Account

Billions of dollars

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

 1 Gross value added 11524.3 12283.5 13129.2 14073.2 14460.1 14621.2 14345.7 14915.2 15587.5 16261.6 1

 (income approach)

 2 Less: Consumption of fixed capital 1727.2 1831.7 1982.0 2136.0 2264.4 2363.4 2368.4 2381.6 2452.6 2542.9 2

 3 Equals: Net value added 9797.1 10451.8 11147.2 11937.1 12195.8 12257.9 11977.3 12533.6 13134.9 13718.8 3

 4 Compensation of employees (paid) 6372.7 6748.8 7097.9 7513.7 7908.8 8090.0 7795.7 7975.3 8286.6 8620.0 4

 5 Wages and salaries 5146.1 5431.2 5703.1 6068.8 6405.7 6543.6 6260.1 6385.6 6646.8 6935.1 5

 6 Employers’ social contributions 1226.6 1317.6 1394.8 1444.9 1503.1 1546.4 1535.6 1589.8 1639.8 1684.9 6

 7 Taxes on production and imports less subsidies 758.9 817.6 873.6 940.5 980.0 989.4 967.8 1001.2 1037.2 1065.6 7

 8 Operating surplus, net 2665.4 2885.5 3175.7 3483.0 3307.0 3178.6 3213.9 3557.0 3811.2 4033.2 8

 9 Plus: Income receipts from the rest of the world 356.1 451.4 575.8 724.2 875.5 856.8 643.7 720.0 802.8 818.6 9

10 Less: Income payments to the rest of the world 288.1 361.4 482.3 655.7 749.1 683.8 496.5 514.1 542.1 565.7 10

11 Equals: Net national income/Balance of primary incomes, net 9865.1 10541.9 11240.8 12005.6 12322.3 12430.8 12124.5 12739.5 13395.7 13971.6 11

12 Operating surplus, net 2665.4 2885.5 3175.7 3483.0 3307.0 3178.6 3213.9 3557.0 3811.2 4033.2 12

13 Compensation of employees (received) 6365.4 6740.5 7087.8 7503.2 7899.1 8079.2 7787.8 7967.3 8278.5 8611.6 13

14 Wages and salaries 5138.8 5422.9 5692.9 6058.2 6396.0 6532.8 6252.2 6377.5 6638.7 6926.8 14

15 Employers’ social contributions 1226.6 1317.6 1394.8 1444.9 1503.1 1546.4 1535.6 1589.8 1639.8 1684.9 15

16 Taxes on production and imports, receivable 808.0 863.9 934.5 991.9 1034.6 1041.9 1026.1 1057.1 1097.1 1122.9 16

17 Subsidies paid -49.1 -46.4 -60.9 -51.5 -54.6 -52.6 -58.3 -55.9 -60.0 -57.3 17

18 Property income (received) 4363.3 4812.7 5548.9 6528.4 7187.0 6802.0 5703.0 5653.1 5935.4 6052.1 18

19 Interest 2628.5 2795.0 3385.2 4109.9 4661.4 4188.5 3420.8 3194.8 3190.5 3108.0 19

20 Distributed income of corporations 1571.1 1808.0 2123.9 2150.5 2241.5 2322.1 2001.1 2102.5 2362.2 2554.6 20

21 Dividends 603.0 775.5 1069.4 1018.6 1174.9 1186.9 918.5 943.1 1059.4 1166.1 21

22 Withdrawals from income of quasi-corporations 968.1 1032.5 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1302.8 1388.5 22

23 Reinvested earnings on U.S. direct investment abroad 149.0 192.5 20.4 247.8 261.4 265.6 262.8 336.6 361.1 368.1 23

24 Rents on land and natural resources 14.6 17.1 19.4 20.3 22.6 25.9 18.3 19.2 21.6 21.5 24

25 Less: Uses of property income (paid) 4287.9 4714.3 5445.2 6449.4 7051.0 6618.3 5548.0 5439.1 5666.5 5790.9 25

26 Interest 2719.8 2901.7 3520.6 4287.1 4878.7 4411.4 3618.6 3376.0 3358.2 3265.7 26

27 Distributed income of corporations 1539.0 1745.7 1863.0 2072.6 2101.1 2141.6 1889.3 1981.1 2205.8 2397.8 27

28 Dividends 571.0 713.2 808.5 940.7 1034.5 1006.4 806.6 821.7 903.0 1009.4 28

29 Withdrawals from income of quasi-corporations 968.1 1032.5 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1302.8 1388.5 29

30 Reinvested earnings on foreign direct investment 14.5 49.8 42.1 69.5 48.5 39.4 21.9 62.8 81.0 105.9 30

31 Rents on land and natural resources 14.6 17.1 19.4 20.3 22.6 25.9 18.3 19.2 21.6 21.5 31

32 Net national income/Balance of primary incomes, net 9865.1 10541.9 11240.8 12005.6 12322.3 12430.8 12124.5 12739.5 13395.7 13971.6 32

33 Plus: Current taxes on income, wealth, etc. (received) 1241.6 1347.9 1616.5 1821.0 1923.9 1735.1 1405.8 1553.5 1765.3 1918.3 33

34 Less: Current taxes on income, wealth, etc. (paid) 1244.6 1352.1 1620.9 1825.5 1933.4 1744.3 1414.4 1562.0 1778.2 1932.8 34

35 Plus: Social benefits (received) 2099.8 2233.5 2364.3 2515.3 2658.3 2840.4 3070.9 3223.0 3182.9 3272.2 35

36 Less: Social contributions (paid) 2105.9 2239.7 2370.9 2523.2 2666.9 2851.1 3081.9 3234.6 3195.6 3285.5 36

37 Plus: Other current transfers (received) 456.8 468.2 494.1 497.2 532.5 563.0 671.0 719.3 694.5 643.7 37

38 Less: Other current transfers (paid) 528.3 554.8 598.1 586.6 640.1 681.4 787.5 841.2 817.9 760.4 38

39 Equals: Disposable income, net 9784.5 10444.9 11125.8 11903.8 12196.5 12292.6 11988.4 12597.5 13246.7 13827.0 39

40 Less: Final consumption expenditures 9519.9 10126.7 10770.4 11387.3 11954.2 12374.1 12285.0 12724.1 13237.9 13697.6 40

41 Equals: Net saving 264.5 318.3 355.5 516.5 242.4 -81.5 -296.6 -126.6 8.8 129.3 41

 Addendum:

42 Gross value added (line 1) 11524.3 12283.5 13129.2 14073.2 14460.1 14621.2 14345.7 14915.2 15587.5 16261.6 42

43 Plus statistical discrepancy (NIPA) -12.1 -6.5 -33.8 -215.3 20.2 99.0 72.2 43.1 -53.6 -17.0 43

44 Equals: GDP (NIPA, expenditure approach) 11512.2 12277.0 13095.4 13857.9 14480.3 14720.3 14417.9 14958.3 15533.8 16244.6 44
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

 1 Gross value added 11524.3 12283.5 13129.2 14073.2 14460.1 14621.2 14345.7 14915.2 15587.5 16261.6 1

 2 Households and nonprofit institutions serving households 1427.0 1510.9 1599.5 1689.4 1749.6 1855.3 1913.6 1927.5 1971.9 2025.4 2

 3 Nonfinancial noncorporate business 1911.9 2079.1 2218.8 2440.1 2513.9 2632.7 2466.7 2545.9 2766.5 2906.4 3

 4 Nonfinancial corporate business 5724.4 6107.9 6532.1 6988.0 7203.9 7258.1 6861.4 7243.1 7636.4 8030.8 4

 5 Financial business 885.6 922.1 1034.3 1127.6 1068.8 852.3 1015.7 1039.9 1025.1 1090.3 5

 6 Federal government 498.1 525.8 552.7 577.6 605.4 637.6 668.8 704.5 719.7 716.7 6

 7 State and local government 1077.2 1137.7 1191.7 1250.3 1318.5 1385.2 1419.4 1454.2 1468.0 1491.9 7

 8 Net saving 264.5 318.3 355.5 516.5 242.4 -81.5 -296.6 -126.6 8.8 129.3 8

 9 Households and nonprofit institutions serving households 410.8 413.2 242.7 336.9 317.2 551.3 670.7 634.2 668.2 687.4 9

10 Nonfinancial corporate business 273.2 312.7 411.7 386.5 313.1 296.7 382.1 598.6 648.8 647.8 10

11 Financial business 105.5 100.5 73.1 60.6 -48.5 -129.4 172.3 207.4 153.1 156.5 11

12 Federal government -403.5 -399.8 -305.4 -228.1 -266.7 -635.1 -1249.8 -1329.5 -1248.3 -1109.7 12

13 State and local government -121.4 -108.4 -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -213.1 -252.7 13

 Net capital transfers

14 Households and nonprofit institutions serving households 13.1 1.4 -21.9 16.6 6.8 7.7 -28.4 -20.6 2.1 -5.1 14

15 Nonfinancial noncorporate business 0.0 -5.0 -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 -4.9 15

16 Nonfinancial corporate business -0.1 -6.7 -15.5 -0.0 -0.0 -3.7 38.3 20.9 -6.4 -16.7 16

17 Financial business 0.0 16.2 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 9.6 17

18 Federal government 41.1 39.3 60.3 43.2 53.0 117.6 186.3 126.3 113.8 84.7 18

19 State and local government -52.0 -48.0 -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.9 -74.1 19

20 Rest of the world -2.2 2.8 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 6.6 20

21 Gross fixed capital formation 2473.9 2701.3 2981.2 3166.0 3201.5 3091.4 2672.7 2691.1 2828.3 3028.1 21

22 Households and nonprofit institutions serving households 653.9 765.9 865.0 860.1 736.1 580.4 468.1 452.4 456.7 498.1 22

23 Nonfinancial noncorporate business 238.3 260.3 289.2 305.0 313.5 307.5 248.8 243.1 258.5 278.7 23

24 Nonfinancial corporate business 960.0 1010.1 1133.4 1259.9 1348.2 1372.7 1141.9 1181.0 1305.3 1438.9 24

25 Financial business (nonresidential) 156.5 176.5 180.0 188.7 211.5 196.2 166.9 162.8 175.2 193.4 25

26 Federal government 196.4 211.0 222.9 238.0 251.4 275.8 284.0 300.0 295.4 284.0 26

27 State and local government 268.9 277.5 290.8 314.3 340.8 358.8 363.0 351.9 337.2 334.9 27

28 Consumption of fixed capital 1727.2 1831.7 1982.0 2136.0 2264.4 2363.4 2368.4 2381.6 2452.6 2542.9 28

29 Households and nonprofit institutions serving households 290.8 323.4 362.1 396.2 413.7 414.6 403.3 400.5 402.9 409.9 29

30 Nonfinancial noncorporate business 183.6 196.4 214.4 232.6 245.6 254.5 253.0 251.8 256.8 264.5 30

31 Nonfinancial corporate business 818.0 850.2 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1135.8 1188.2 31

32 Financial business (nonresidential) 130.0 139.3 148.9 156.8 165.4 173.9 177.4 176.7 179.0 186.6 32

33 Federal government 170.3 178.6 189.4 200.7 212.8 226.3 234.5 245.3 256.5 262.3 33

34 State and local government 134.5 143.8 157.3 170.3 186.6 200.2 208.2 212.7 221.7 231.4 34

35 Change in inventories 19.3 63.9 59.6 67.0 34.5 -32.0 -147.6 61.5 36.4 66.1 35

36 Nonfinancial noncorporate business 1.0 10.0 3.2 0.6 1.2 -0.4 -8.5 -2.2 -2.7 -4.9 36

37 Nonfinancial corporate business 18.3 53.9 56.4 66.3 33.3 -31.6 -139.0 63.7 39.1 71.0 37

38 Net lending (+) or net borrowing (-) (capital account) -503.6 -612.4 -690.5 -582.5 -729.1 -772.2 -454.0 -498.3 -405.0 -415.4 38

39 Households and nonprofit institutions serving households 43.1 -22.0 -229.3 -133.4 -0.8 388.8 643.9 611.4 620.6 612.7 39

40 Nonfinancial noncorporate business -55.6 -68.9 -64.9 -73.0 -69.1 -49.3 18.8 18.6 2.5 -4.3 40

41 Nonfinancial corporate business 115.1 107.4 146.3 26.1 -28.5 35.7 426.6 428.7 447.5 343.2 41

42 Financial business 78.9 47.1 14.3 28.8 -94.6 -91.2 304.7 262.8 189.3 140.2 42

43 Federal government -469.8 -470.7 -397.3 -294.2 -354.9 -781.8 -1476.7 -1509.5 -1400.1 -1214.8 43

44 State and local government -215.2 -205.4 -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -264.8 -292.4 44

 Addendum:

45 Statistical discrepancy (NIPA) -12.1 -6.5 -33.8 -215.3 20.2 99.0 72.2 43.1 -53.6 -17.0 45

46 Rest of the world 515.7 618.9 724.3 797.8 709.0 673.1 381.7 455.2 458.6 432.4 46

47 Net lending (+) or net borrowing (-) (financial account) -445.4 -354.2 -349.7 -512.6 -366.6 -1536.3 -392.0 -569.3 -838.6 -876.5 47

48 Households and nonprofit institutions serving households 99.2 235.2 -205.8 -240.6 242.0 729.3 749.8 1024.1 1196.9 925.9 48

49 Nonfinancial noncorporate business -55.6 -68.9 -64.9 -73.0 -69.1 -49.3 18.8 18.6 2.5 -4.3 49

50 Nonfinancial corporate business 74.1 166.1 -19.9 -138.6 -206.5 -943.3 551.0 145.5 -400.3 -511.9 50

51 Financial business 189.7 -54.7 340.3 254.4 117.6 -161.5 28.0 -27.3 31.1 106.7 51

52 Federal government -530.9 -474.1 -422.8 -310.4 -390.6 -789.0 -1298.3 -1416.7 -1355.5 -1133.0 52

53 State and local government -221.9 -157.8 23.4 -4.3 -60.1 -322.5 -441.2 -313.3 -313.3 -259.9 53

 Addendum:

54 Rest of the world 531.1 535.4 713.8 807.4 617.6 736.6 230.9 437.9 550.5 446.3 54

 Total other volume changes

55 Households and nonprofit institutions serving households 537.0 1591.1 343.9 625.7 622.2 432.3 707.5 1291.4 544.3 752.0 55

56 Nonfinancial noncorporate business 66.3 77.9 -65.3 9.4 -36.8 -303.3 -71.4 188.7 -65.0 -36.2 56

57 Nonfinancial corporate business 131.9 294.3 327.3 644.3 756.8 -722.2 172.3 415.5 -72.4 -215.8 57

58 Financial business -702.7 -425.4 29.2 -426.9 -80.2 1221.3 -1076.3 -880.7 -164.6 -416.0 58

59 Federal government -94.4 -27.7 -46.3 31.3 10.8 87.8 122.4 -21.5 47.0 68.3 59

60 State and local government 338.6 -698.5 215.9 323.4 229.7 -976.4 357.2 34.3 -44.4 321.6 60

61 Rest of the world 15.4 -83.5 -10.4 9.6 -91.3 63.4 -150.8 -17.3 91.9 13.9 61

 Holding gains/losses

62 Households and nonprofit institutions serving households 4472.0 5096.7 5414.7 3842.5 -493.1 -11610.0 376.3 2436.6 118.0 4678.1 62

63 Nonfinancial noncorporate business 508.8 1142.1 1171.1 429.7 105.8 -1158.8 -1193.8 481.9 537.6 697.3 63

64 Nonfinancial corporate business -2468.9 29.8 51.4 -1450.6 -312.8 4182.7 -5016.6 -1378.0 220.0 -1479.2 64

65 Financial business 111.9 101.4 126.5 23.6 1336.0 497.5 455.7 136.9 249.2 -31.7 65

66 Federal government 47.7 115.7 115.3 116.8 93.3 1.2 -157.9 18.5 23.0 32.1 66

67 State and local government 120.5 516.3 478.9 621.8 466.0 350.4 -71.8 197.3 394.4 243.9 67

68 Rest of the world -463.9 -371.0 -956.6 -514.9 -949.0 825.2 -1192.2 -395.5 945.6 -303.8 68
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

 Change in net worth

69 Households and nonprofit institutions serving households 5406.7 7099.7 6023.1 4788.5 439.6 -10634.1 1782.8 4382.8 1328.3 6122.5 69

70 Nonfinancial noncorporate business 575.1 1225.0 1118.9 439.1 69.0 -1458.8 -1259.2 678.3 474.2 666.0 70

71 Nonfinancial corporate business -2063.8 643.4 805.9 -419.7 757.1 3760.9 -4500.5 -384.8 802.8 -1030.5 71

72 Financial business -485.4 -239.7 201.1 -342.6 1207.3 1649.9 -326.4 -494.9 270.1 -300.7 72

73 Federal government -491.3 -351.1 -296.8 -123.3 -215.6 -663.6 -1471.6 -1458.8 -1292.0 -1093.9 73

74 State and local government 389.7 -242.6 678.5 963.6 682.3 -727.7 81.3 71.1 210.9 386.9 74

75 Rest of the world 67.2 164.4 -242.8 292.5 -331.3 1561.8 -961.3 42.4 1496.1 142.5 75
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

 Current account

 1 Gross value added 1427.0 1510.9 1599.5 1689.4 1749.6 1855.3 1913.6 1927.5 1971.9 2025.4 1

 2 Less: Consumption of fixed capital 290.8 323.4 362.1 396.2 413.7 414.6 403.3 400.5 402.9 409.9 2

 3 Equals: Net value added 1136.3 1187.5 1237.5 1293.2 1335.9 1440.7 1510.3 1527.1 1569.0 1615.5 3

 4 Compensation paid by households and NPISHs 517.7 545.6 563.4 590.9 616.8 658.2 686.6 695.2 717.5 747.6 4

 5 Wages and salaries 432.5 452.2 466.2 490.9 516.0 549.9 566.1 577.3 596.6 620.3 5

 6 Employers’ social contributions 85.2 93.4 97.1 100.0 100.8 108.3 120.5 117.9 120.8 127.4 6

 7 Taxes on production and imports less subsidies 108.8 114.7 120.7 130.8 135.1 143.2 152.4 152.8 154.2 156.1 7

 8 Operating surplus, net 509.7 527.2 553.4 571.5 584.0 639.3 671.3 679.1 697.4 711.8 8

 9 Net national income/Balance of primary incomes, net 8718.5 9245.7 9734.1 10438.3 10937.5 11248.6 10638.0 10895.4 11549.9 12087.8 9

10 Operating surplus, net 509.7 527.2 553.4 571.5 584.0 639.3 671.3 679.1 697.4 711.8 10

11 Compensation of employees (received) 6365.4 6740.5 7087.8 7503.2 7899.1 8079.2 7787.8 7967.3 8278.5 8611.6 11

12 Wages and salaries 5138.8 5422.9 5692.9 6058.2 6396.0 6532.8 6252.2 6377.5 6638.7 6926.8 12

13 Employers’ social contributions 1226.6 1317.6 1394.8 1444.9 1503.1 1546.4 1535.6 1589.8 1639.8 1684.9 13

14 Property income (received) 2389.8 2537.5 2722.2 3071.6 3234.6 3303.6 2895.7 2900.2 3188.6 3348.3 14

15 Interest 989.5 942.9 1089.4 1216.1 1351.5 1363.0 1265.2 1196.2 1205.3 1212.9 15

16 Distributed income of corporations 1400.3 1594.5 1632.8 1855.5 1883.1 1940.6 1630.5 1704.0 1983.3 2135.4 16

17 Dividends 432.3 562.1 578.3 723.7 816.5 805.4 547.8 544.6 680.5 746.9 17

18 Withdrawals from income of quasi-corporations (1) 968.1 1032.5 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1302.8 1388.5 18

19 Less: Uses of property income (interest paid) 546.5 559.5 629.3 707.9 780.2 773.5 716.8 651.2 614.6 583.9 19

20 Net national income/Balance of primary incomes, net 8718.5 9245.7 9734.1 10438.3 10937.5 11248.6 10638.0 10895.4 11549.9 12087.8 20

21 Less: Current taxes on income, wealth, etc. (paid) 1000.9 1046.0 1208.5 1352.1 1487.9 1435.2 1144.9 1191.5 1404.0 1498.0 21

22 Plus: Social benefits (received) 1316.6 1399.9 1486.3 1588.2 1692.2 1847.3 2101.5 2234.0 2260.3 2316.8 22

23 Less: Social contributions (paid) 779.3 829.2 873.3 922.6 961.4 988.2 964.4 984.1 918.2 950.7 23

24 Plus: Other current transfers (received) 26.3 16.8 25.7 21.5 30.6 36.6 38.7 43.0 46.7 41.4 24

25 Less: Other current transfers (paid) 106.1 116.3 131.2 138.9 149.3 152.3 155.2 160.6 154.6 160.4 25

26 Equals: Disposable income, net 8175.2 8671.0 9033.0 9634.4 10061.7 10556.8 10513.6 10836.1 11380.0 11837.0 26

27 Less: Final consumption expenditures 7764.4 8257.8 8790.3 9297.5 9744.4 10005.5 9842.9 10201.9 10711.8 11149.6 27

28 Equals: Net saving 410.8 413.2 242.7 336.9 317.2 551.3 670.7 634.2 668.2 687.4 28

 Capital account

29 Net saving less capital transfers 397.7 411.9 264.6 320.3 310.4 543.7 699.1 654.8 666.1 692.5 29

30 Net saving 410.8 413.2 242.7 336.9 317.2 551.3 670.7 634.2 668.2 687.4 30

31 Less: Capital transfers paid (net) 13.1 1.4 -21.9 16.6 6.8 7.7 -28.4 -20.6 2.1 -5.1 31

32 Capital formation, net 354.6 433.8 493.8 453.8 311.2 154.9 55.2 43.4 45.5 79.8 32

33 Gross fixed capital formation, excluding consumer durables 653.9 765.9 865.0 860.1 736.1 580.4 468.1 452.4 456.7 498.1 33

34 Residential 541.9 643.8 738.9 722.7 582.3 425.3 321.0 318.3 317.1 354.3 34

35 Nonresidential (nonprofit organizations) 112.0 122.1 126.1 137.4 153.9 155.1 147.1 134.1 139.6 143.8 35

36 Less: Consumption of fixed capital 290.8 323.4 362.1 396.2 413.7 414.6 403.3 400.5 402.9 409.9 36

37 Acquisition of nonproduced nonfinancial assets -8.5 -8.7 -9.1 -10.1 -11.2 -11.0 -9.7 -8.5 -8.3 -8.4 37

38 Net lending (+) or borrowing (-), capital account (lines 29-32) 43.1 -22.0 -229.3 -133.4 -0.8 388.8 643.9 611.4 620.6 612.7 38

 Financial account

39 Net lending (+) or borrowing (-) (line 38) 43.1 -22.0 -229.3 -133.4 -0.8 388.8 643.9 611.4 620.6 612.7 39

40 Net acquisition of financial assets 1143.8 1386.4 953.6 1034.3 1202.8 739.7 813.3 916.9 1137.5 1189.0 40

41 Currency and deposits 269.9 389.4 370.2 451.9 419.3 408.7 200.5 197.3 697.3 566.3 41

42 Currency and transferable deposits -31.2 -58.2 -113.9 -40.0 -75.4 176.7 101.1 38.9 328.3 159.4 42

43 Time and savings deposits 299.0 442.2 481.6 486.7 479.4 255.6 106.0 159.0 371.8 408.7 43

44 Foreign deposits 2.2 5.4 2.4 5.2 15.4 -23.7 -6.6 -0.6 -2.8 -1.8 44

45 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Debt securities 40.2 244.7 168.2 89.4 542.4 248.8 198.8 72.1 -101.5 -18.6 46

47 Open market paper -4.9 6.4 14.7 19.0 -10.2 -101.3 16.7 -1.5 -1.8 -0.6 47

48 Treasury securities 22.1 -10.6 -121.2 -103.8 -37.1 147.9 534.3 322.5 -228.6 214.9 48

49 Agency- and GSE-backed securities (2) 133.5 109.8 153.3 -29.9 331.4 238.9 -671.0 -3.5 -11.0 -128.7 49

50 Municipal securities 15.8 118.5 77.8 34.8 37.9 47.3 107.1 43.7 -63.5 -142.5 50

51 Corporate and foreign bonds -126.2 20.5 43.5 169.3 220.3 -83.9 211.8 -289.1 203.4 38.3 51

52 Loans 84.6 127.4 -0.9 70.8 220.4 -159.2 -47.6 1.6 -5.1 16.8 52

53 Short term 79.6 117.0 -9.0 87.9 233.3 -160.4 -46.8 12.5 -5.9 30.7 53

54 Long term (mortgages) 5.1 10.4 8.1 -17.1 -12.9 1.1 -0.9 -10.9 0.7 -13.9 54
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

55 Equity and investment fund shares 98.5 -90.9 -242.4 -265.2 -666.4 -413.9 -10.2 37.0 -82.0 155.3 55

56 Corporate equities -109.5 -281.0 -421.7 -653.9 -1104.2 -313.8 -1.3 -191.4 -236.9 -248.7 56

57 Mutual fund shares 259.7 165.9 176.7 167.0 232.9 -41.1 339.4 232.6 263.1 435.0 57

58 Money market fund shares -113.9 -56.1 44.4 218.0 239.4 234.7 -267.9 -182.8 -35.1 -2.9 58

59 Equity in noncorporate business 62.2 80.2 -41.8 3.7 -34.6 -293.7 -81.5 174.5 -73.8 -28.2 59

60 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 1.2 4.0 0.7 0.0 60

61 Insurance, pension and standardized guarantee schemes 650.6 715.8 658.6 687.3 687.1 655.2 471.8 608.9 628.8 469.3 61

62 Insurance receivables due from property-casualty insurance companies 22.9 23.6 25.6 4.6 6.7 11.0 8.7 -35.2 36.7 -16.7 62

63 Life insurance reserves 68.5 33.1 15.1 57.8 18.2 59.9 24.6 6.2 73.9 -26.5 63

64 Pension entitlements (4) 525.8 630.3 585.4 592.1 602.8 540.2 413.5 598.3 484.9 501.0 64

65 Non-life insurance reserves at life insurance companies 13.9 11.4 9.5 14.8 15.5 17.6 8.4 17.1 14.8 -1.8 65

66 Retiree Health Care Funds 19.6 17.4 23.0 18.1 43.9 26.5 16.6 22.5 18.5 13.3 66

67 Net incurrence of liabilities 1044.6 1151.3 1159.4 1274.9 960.7 10.4 63.5 -107.2 -59.4 263.1 67

68 Debt securities (municipals) 13.8 14.7 15.1 16.4 21.1 9.3 5.9 -2.2 -7.8 -14.5 68

69 Loans 1025.1 1118.6 1130.3 1244.4 924.0 -24.3 21.1 -78.2 -52.4 273.0 69

70 Short term 146.8 179.0 69.2 229.1 178.8 -114.9 -36.6 102.4 16.2 346.6 70

71 Consumer credit 105.9 117.2 100.4 120.5 151.3 34.9 -103.6 -25.3 108.5 169.7 71

72 Depository institution loans n.e.c. 8.0 -20.0 0.3 44.2 -9.1 4.6 28.3 50.1 -54.9 110.8 72

73 Other loans and advances -1.5 0.3 0.0 4.8 3.2 6.2 0.5 2.4 1.9 1.2 73

74 Security credit 34.3 81.5 -31.6 59.7 33.4 -160.7 38.1 75.2 -39.3 64.9 74

75 Long term (mortgages) 878.3 939.6 1061.0 1015.2 745.2 90.7 57.7 -180.6 -68.7 -73.6 75

76 Insurance, pension and standardized guarantee schemes 0.9 1.6 1.0 0.5 1.0 3.2 -4.9 2.7 -0.4 0.6 76

77 Other accounts payable (trade debt) 4.8 16.5 13.0 13.6 14.6 22.2 41.4 -29.4 1.2 4.0 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 40-67) 99.2 235.2 -205.8 -240.6 242.0 729.3 749.8 1024.1 1196.9 925.9 78

 Other changes in volume account

79 Total other volume changes 537.0 1591.1 343.9 625.7 622.2 432.3 707.5 1291.4 544.3 752.0 79

80 Net investment in consumer durable goods 239.7 254.8 252.4 239.6 231.1 134.6 50.3 86.9 121.9 160.4 80

81 Disaster losses 0.0 -12.0 -50.4 0.0 0.0 -8.3 0.0 0.0 0.0 -20.9 81

82 Other volume changes 241.2 1091.2 118.5 493.2 148.3 -34.5 551.3 791.8 -153.9 299.2 82

83 Less: Statistical discrepancy (lines 38-78) (5) -56.1 -257.1 -23.4 107.1 -242.8 -340.5 -105.9 -412.7 -576.3 -313.2 83

 Revaluation account

84 Nonfinancial assets 1273.7 2401.9 2845.1 355.9 -1912.3 -3673.0 -1244.9 -471.2 -222.4 1525.8 84

85 Real estate 1360.3 2434.2 2886.7 399.8 -1859.3 -3646.1 -1203.9 -385.9 -244.6 1560.8 85

86 Consumer durable goods -88.0 -34.5 -44.1 -46.9 -55.6 -32.0 -40.8 -88.3 17.9 -38.8 86

87 Equipment -0.3 1.1 0.4 1.5 0.1 3.9 -0.5 1.4 2.0 0.6 87

88 Intellectual property products 1.6 1.0 2.1 1.5 2.6 1.2 0.3 1.5 2.3 3.2 88

89 Financial assets 3198.3 2694.8 2569.5 3486.5 1419.2 -7937.1 1621.2 2907.9 340.4 3152.3 89

90 Corporate equities 1723.2 1003.5 1076.8 2289.9 929.3 -3886.4 1566.4 1690.6 192.0 1636.1 90

91 Mutual fund shares 427.2 328.0 45.0 345.6 274.6 -1333.3 469.7 251.8 -270.3 360.8 91

92 Equity in noncorporate business 520.8 1149.6 1185.7 433.3 104.9 -1169.4 -1185.3 489.7 537.6 701.3 92

93 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 -1.0 -0.2 -0.1 93

94 Insurance, pension and standardized guarantee schemes 527.0 213.8 262.0 417.7 110.4 -1548.1 770.7 476.8 -118.8 454.2 94

95 Changes in net worth due to nominal holding gains/losses 4472.0 5096.7 5414.7 3842.5 -493.1 -11610.0 376.3 2436.6 118.0 4678.1 95

 Changes in balance sheet account

96 Change in net worth (lines 32+38+79+95) 5406.7 7099.7 6023.1 4788.5 439.6 -10634.1 1782.8 4382.8 1328.3 6122.5 96

 Balance sheet account (end of period)

97 Total assets 59313.9 67584.9 74766.4 80853.8 82226.1 71476.2 73030.3 77130.1 78258.0 84441.4 97

98 Nonfinancial assets 21918.1 24993.7 28533.5 29581.1 28208.8 24813.9 23671.0 23323.3 23265.8 25007.3 98

99 Real estate 17983.4 20816.7 24127.4 24958.8 23385.8 19861.4 18693.4 18330.9 18111.2 19711.8 99

100 Consumer durable goods 3679.2 3899.5 4107.8 4300.5 4476.0 4578.6 4588.1 4586.7 4726.4 4848.0 100

101 Equipment 173.1 190.6 206.9 226.3 246.1 268.5 279.5 290.6 304.6 315.1 101

102 Intellectual property products 82.4 86.8 91.4 95.5 100.9 105.4 110.0 115.0 123.6 132.4 102
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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

103 Financial assets 37395.8 42591.2 46232.9 51272.7 54017.3 46662.4 49359.3 53806.9 54992.2 59434.1 103

104 Currency and deposits 4534.8 4949.7 5319.9 5798.0 6217.4 6591.1 6777.1 6929.2 7626.5 8134.1 104

105 Currency and transferable deposits 458.0 399.8 285.8 239.6 153.2 294.9 396.0 423.6 752.0 897.8 105

106 Foreign deposits 52.1 57.5 59.9 65.2 80.5 56.9 50.2 49.7 46.9 45.1 106

107 Time and savings deposits 4024.8 4492.4 4974.1 5493.2 5983.6 6239.3 6330.8 6455.9 6827.7 7191.2 107

108 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 108

109 Debt securities 2734.5 3777.2 4054.5 4201.9 4818.9 4919.8 5393.3 5629.4 5226.9 5248.7 109

110 Open market paper 77.3 83.7 98.4 117.5 107.3 6.0 22.7 21.1 19.4 18.8 110

111 Treasury securities 418.2 474.5 427.6 327.7 205.7 188.7 859.7 1134.4 715.6 941.0 111

112 Agency- and GSE-backed securities (2) 384.8 432.9 582.9 610.7 872.0 1057.7 358.3 353.7 304.6 154.2 112

113 Municipal securities 687.2 1522.9 1600.7 1635.7 1673.6 1720.9 1828.1 1871.8 1808.3 1665.8 113

114 Corporate and foreign bonds 1166.9 1263.2 1344.9 1510.3 1960.2 1946.5 2324.6 2248.3 2379.0 2468.8 114

115 Loans 646.4 773.8 772.9 912.5 1132.9 973.6 928.3 929.9 924.8 930.5 115

116 Short term 524.2 641.1 632.1 788.9 1022.1 861.8 817.4 829.8 824.0 843.6 116

117 Long term (mortgages) 122.2 132.6 140.8 123.6 110.7 111.8 110.9 100.1 100.8 86.9 117

118 Equity and investment fund shares 16737.8 19121.4 21162.1 24446.5 25090.5 18289.9 19141.9 21625.2 22009.9 24971.7 118

119 Corporate equities 6793.0 7515.5 8170.6 10306.1 10131.2 5931.0 7496.1 8995.3 9025.4 10412.8 119

120 Mutual fund shares 2910.0 3403.9 3625.7 4173.6 4681.1 3306.7 4115.8 4600.2 4502.9 5408.7 120

121 Money market fund shares 954.5 898.4 942.8 1106.7 1346.1 1580.9 1313.0 1130.2 1110.2 1107.4 121

122 Equity in noncorporate business 6080.3 7303.6 8423.0 8860.1 8932.1 7471.3 6216.2 6895.6 7366.9 8038.4 122

123 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.9 3.8 4.4 4.4 123

124 Insurance, pension and standardized guarantee schemes 12742.3 13969.2 14923.6 15913.8 16757.8 15888.0 17118.7 18693.2 19204.2 20149.2 124

125 Insurance receivables due from property-casualty insurance companies 266.8 290.4 316.0 320.5 327.3 337.3 346.0 310.8 347.5 330.8 125

126 Life insurance reserves 1013.2 1060.4 1082.6 1055.2 1076.8 1049.8 1109.2 1137.2 1203.6 1186.1 126

127 Pension entitlements (4) 11227.9 12355.1 13232.3 14212.5 14968.8 14071.9 15209.5 16751.6 17126.1 18093.8 127

128 Non-life insurance reserves at life insurance companies 199.5 211.0 217.3 232.1 247.6 265.2 273.6 290.7 305.5 303.7 128

129 Retiree Health Care Funds 35.0 52.4 75.4 93.5 137.3 163.8 180.4 202.9 221.4 234.8 129

130 Total liabilities and net worth 59313.9 67584.9 74766.4 80853.8 82226.1 71476.2 73030.3 77130.1 78258.0 84441.4 130

131 Liabilities 9832.7 11004.1 12162.4 13461.3 14394.0 14278.2 14049.5 13766.5 13566.0 13626.8 131

132 Debt securities (municipals) 177.7 197.6 212.7 229.1 250.2 259.5 265.4 263.2 255.5 241.0 132

133 Loans 9477.3 10610.8 11741.0 13009.5 13905.4 13755.0 13483.8 13229.8 13036.3 13107.0 133

134 Short term 2407.3 2586.3 2655.5 2908.7 3090.1 2975.1 2873.6 3122.8 3144.4 3429.3 134

135 Consumer credit 2102.9 2220.1 2320.6 2461.9 2615.7 2650.6 2552.8 2647.4 2755.9 2923.6 135

136 Depository institution loans n.e.c. 3.2 -16.8 -16.5 30.9 21.8 26.4 -15.9 61.0 11.5 62.6 136

137 Other loans and advances 118.7 119.0 119.0 123.8 127.0 133.2 133.7 136.1 138.1 139.3 137

138 Security credit 182.5 264.0 232.4 292.1 325.5 164.8 203.0 278.2 238.9 303.7 138

139 Long term (mortgages) 7070.0 8024.5 9085.5 10100.7 10815.4 10779.9 10610.2 10107.0 9891.9 9677.7 139

140 Insurance, pension and standardized guarantee schemes 20.9 22.5 22.4 22.8 23.9 27.0 22.1 24.7 24.3 24.9 140

141 Other accounts payable (trade debt) 156.8 173.3 186.3 199.9 214.5 236.7 278.2 248.8 250.0 254.0 141

142 Net worth 49481.2 56580.8 62604.0 67392.5 67832.1 57198.0 58980.9 63363.7 64692.0 70814.6 142

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

NPISHs Nonprofit institutions serving households

n.e.c. Not elsewhere classified
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

 Current account

 1 Gross value added 1911.9 2079.1 2218.8 2440.1 2513.9 2632.7 2466.7 2545.9 2766.5 2906.4 1

 2 Less: Consumption of fixed capital 183.6 196.4 214.4 232.6 245.6 254.5 253.0 251.8 256.8 264.5 2

 3 Equals: Net value added 1728.3 1882.7 2004.4 2207.5 2268.3 2378.3 2213.6 2294.1 2509.7 2641.9 3

 4 Compensation of employees (paid) 532.2 599.1 664.7 747.4 827.5 843.4 805.4 816.2 851.4 895.2 4

 5 Wages and salaries 447.5 503.5 557.9 631.2 701.8 712.1 675.0 684.6 716.7 754.5 5

 6 Employers’ social contributions 84.8 95.6 106.8 116.3 125.7 131.3 130.4 131.6 134.6 140.7 6

 7 Taxes on production and imports less subsidies 111.4 125.4 130.2 147.0 157.6 157.9 145.4 150.7 157.8 162.7 7

 8 Operating surplus, net 1084.6 1158.3 1209.4 1313.0 1283.2 1377.1 1262.8 1327.2 1500.5 1584.0 8

 9 Net national income/Balance of primary incomes, net 19.8 20.1 21.8 22.7 19.8 15.3 21.3 23.1 25.2 26.5 9

10 Operating surplus, net 1084.6 1158.3 1209.4 1313.0 1283.2 1377.1 1262.8 1327.2 1500.5 1584.0 10

11 Property income (interest received) 16.7 17.3 18.1 19.1 17.7 13.6 9.4 8.4 1.2 5.0 11

12 Less: Uses of property income (paid) 1081.5 1155.5 1205.7 1309.5 1281.1 1375.4 1251.0 1312.6 1476.5 1562.5 12

13 Interest 163.5 170.3 198.8 227.6 254.2 263.1 242.7 237.9 227.4 226.0 13

14 Withdrawals from income of quasi-corporations (1) 917.9 985.1 1006.8 1081.8 1026.8 1112.2 1008.3 1074.5 1249.0 1336.2 14

15 Reinvested earnings on foreign direct investment 0.0 0.1 0.1 0.1 0.1 0.1 0.0 0.1 0.2 0.2 15

16 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Net national income/Balance of primary incomes, net 19.8 20.1 21.8 22.7 19.8 15.3 21.3 23.1 25.2 26.5 17

18 Less: Other current transfers (paid) 19.8 20.1 21.8 22.7 19.8 15.3 21.3 23.1 25.2 26.5 18

19 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Capital account

21 Net saving less capital transfers 0.0 5.0 13.1 0.0 0.0 3.3 6.0 7.8 1.6 4.9 21

22 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Less: Capital transfers paid (net) 0.0 -5.0 -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 -4.9 23

24 Capital formation, net 55.6 73.9 78.0 73.0 69.1 52.6 -12.8 -10.8 -0.9 9.3 24

25 Gross fixed capital formation 238.3 260.3 289.2 305.0 313.5 307.5 248.8 243.1 258.5 278.7 25

26 Nonresidential 150.1 162.2 180.5 198.9 215.0 223.8 182.9 184.9 199.1 212.5 26

27 Residential 88.1 98.1 108.7 106.2 98.5 83.7 65.8 58.3 59.5 66.2 27

28 Less: Consumption of fixed capital 183.6 196.4 214.4 232.6 245.6 254.5 253.0 251.8 256.8 264.5 28

29 Change in private inventories 1.0 10.0 3.2 0.6 1.2 -0.4 -8.5 -2.2 -2.7 -4.9 29

30 Net lending (+) or borrowing (-), capital account (lines 21-24) -55.6 -68.9 -64.9 -73.0 -69.1 -49.3 18.8 18.6 2.5 -4.3 30

 Financial account

31 Net lending (+) or borrowing (-) (line 30) -55.6 -68.9 -64.9 -73.0 -69.1 -49.3 18.8 18.6 2.5 -4.3 31

32 Net acquisition of financial assets 80.5 370.8 437.2 519.8 479.4 97.2 -117.0 151.7 16.7 73.8 32

33 Currency and deposits 50.8 93.7 100.1 94.9 81.8 2.5 10.1 0.1 1.5 19.7 33

34 Currency and transferable deposits 6.1 106.9 76.6 74.6 66.9 3.8 14.9 -2.8 -2.3 14.6 34

35 Time and savings deposits 44.7 -13.2 23.5 20.3 14.9 -1.2 -4.8 2.9 3.9 5.1 35

36 Debt securities 1.4 7.0 6.1 1.5 2.5 -7.9 -5.5 2.5 0.6 0.8 36

37 Treasury securities 2.1 5.3 6.0 0.2 3.0 -7.5 -5.7 1.9 0.5 0.7 37

38 Municipal securities -0.7 1.7 0.1 1.3 -0.5 -0.4 0.2 0.5 0.1 0.1 38

39 Loans 0.1 4.6 5.3 -1.5 7.4 -3.0 -1.2 4.2 0.5 0.6 39

40 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Long term (mortgages) 0.1 4.6 5.3 -1.5 7.4 -3.0 -1.2 4.2 0.5 0.6 41

42 Equity and investment fund shares 2.9 3.0 2.4 3.3 2.9 2.2 -1.7 3.5 1.1 1.3 42

43 Money market mutual fund shares 2.3 2.9 2.4 3.2 2.2 1.0 -1.7 3.1 0.8 1.1 43

44 Equity in government-sponsored enterprises (2) 0.6 0.0 -0.1 0.2 0.7 1.2 -0.0 0.4 0.3 0.2 44

45 Insurance, pension and standardized guarantee schemes (3) 4.7 4.6 5.5 4.4 3.7 3.4 -9.8 29.7 -11.6 15.1 45

46 Other accounts receivable 20.6 258.1 317.8 417.2 381.1 100.0 -109.0 111.8 24.6 36.4 46

47 Trade receivables -25.1 26.6 66.6 40.0 54.7 -3.0 -26.3 37.0 5.8 7.6 47

48 Other (miscellaneous assets) 45.8 231.4 251.2 377.2 326.4 102.9 -82.7 74.7 18.8 28.9 48

49 Net incurrence of liabilities 136.1 439.7 502.1 592.8 548.5 146.6 -135.8 133.1 14.2 78.2 49

50 Loans 73.9 254.7 341.6 415.2 463.1 325.4 -97.1 -19.5 42.7 91.1 50

51 Short term 9.7 34.1 164.2 132.0 154.5 131.8 -107.3 -12.2 57.3 95.0 51

52 Depository institution loans n.e.c. 10.4 32.9 157.8 115.2 140.8 119.5 -102.0 -16.8 56.7 85.7 52

53 Other loans and advances -0.6 1.2 6.3 16.8 13.7 12.3 -5.3 4.7 0.6 9.3 53

54 Long term (mortgages) 64.1 220.6 177.4 283.2 308.7 193.6 10.2 -7.3 -14.6 -3.9 54
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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

55 Equity and investment fund shares 65.5 84.2 -40.5 9.7 -38.4 -305.5 -81.9 174.0 -72.0 -34.1 55

56 Equity in noncorporate business 65.6 84.4 -40.6 10.6 -38.2 -305.3 -82.0 173.6 -72.1 -34.7 56

57 Foreign direct investment in the United States -0.1 -0.2 0.1 -0.9 -0.2 -0.2 0.1 0.3 0.1 0.6 57

58 Other accounts payable -3.3 100.8 201.0 168.0 123.7 126.7 43.2 -21.4 43.4 21.1 58

59 Trade payables -26.2 23.7 49.6 14.4 26.0 5.7 16.8 30.3 7.9 1.3 59

60 Taxes payable -0.5 8.4 8.7 9.0 3.8 6.7 -6.3 -0.7 1.2 2.1 60

61 Other (miscellaneous liabilities) 23.4 68.8 142.7 144.6 93.9 114.3 32.6 -50.9 34.4 17.7 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 32-49) -55.6 -68.9 -64.9 -73.0 -69.1 -49.3 18.8 18.6 2.5 -4.3 62

 Other changes in volume account

63 Total other volume changes 66.3 77.9 -65.3 9.4 -36.8 -303.3 -71.4 188.7 -65.0 -36.2 63

64 Disaster losses 0.0 -6.6 -24.5 0.0 0.0 -4.4 0.0 0.0 0.0 -8.6 64

65 Other volume changes 66.3 84.5 -40.8 9.4 -36.8 -298.9 -71.4 188.7 -65.0 -27.6 65

 Revaluation account

66 Nonfinancial assets 508.8 1142.1 1171.1 429.7 105.8 -1158.8 -1193.8 481.9 537.6 697.3 66

67 Real estate 493.3 1128.0 1149.4 409.4 71.8 -1175.0 -1188.9 437.1 487.2 671.1 67

68 Residential 376.8 667.3 806.9 77.3 -378.1 -808.9 -479.2 156.4 188.2 398.1 68

69 Nonresidential 116.5 460.6 342.5 332.2 450.0 -366.1 -709.8 280.7 299.0 273.0 69

70 Equipment 1.8 13.1 10.3 14.0 8.1 22.1 3.4 6.5 16.9 12.3 70

71 Residential -1.4 -0.5 1.1 0.7 -0.5 0.1 -2.7 -2.3 1.3 1.0 71

72 Nonresidential 3.2 13.5 9.2 13.3 8.6 21.9 6.1 8.8 15.6 11.2 72

73 Intellectual property products 1.6 1.1 2.6 2.7 2.8 1.5 0.2 2.0 2.4 4.6 73

74 Inventories 12.1 0.0 8.8 3.6 23.1 -7.3 -8.6 36.2 31.1 9.3 74

75 Changes in net worth due to nominal holding gains/losses 508.8 1142.1 1171.1 429.7 105.8 -1158.8 -1193.8 481.9 537.6 697.3 75

 Changes in balance sheet account

76 Change in net worth (lines 24+30+63+75) 575.1 1225.0 1118.9 439.1 69.0 -1458.8 -1259.2 678.3 474.2 666.0 76

 Balance sheet account (end of period)

77 Total assets 9349.4 10929.6 12591.5 13614.1 14268.3 13255.0 11931.4 12554.1 13107.4 13879.2 77

78 Nonfinancial assets 7560.8 8770.2 9994.8 10497.6 10672.5 9561.9 8355.3 8826.3 9362.9 10060.9 78

79 Real estate 6753.6 7913.2 9079.7 9527.4 9636.0 8488.5 7300.5 7719.9 8193.9 8857.4 79

80 Residential (4) 4303.3 4998.2 5820.3 5925.7 5565.9 4757.9 4268.7 4408.2 4581.9 4965.0 80

81 Nonresidential 2450.2 2915.0 3259.4 3601.7 4070.0 3730.6 3031.8 3311.7 3612.0 3892.4 81

82 Equipment 489.9 521.0 555.8 595.8 627.3 663.3 657.1 667.4 693.7 712.9 82

83 Residential 37.0 38.5 41.7 44.4 45.5 46.6 44.0 42.2 43.7 44.1 83

84 Nonresidential 452.9 482.5 514.0 551.4 581.8 616.8 613.1 625.2 650.0 668.8 84

85 Intellectual property products 121.1 129.7 141.2 152.0 162.4 171.0 175.8 183.0 191.0 201.8 85

86 Inventories 196.2 206.2 218.2 222.4 246.8 239.0 221.9 256.0 284.4 288.8 86

87 Financial assets 1788.6 2159.4 2596.7 3116.5 3595.9 3693.1 3576.1 3727.8 3744.5 3818.3 87

88 Currency and deposits 504.4 598.1 698.2 793.2 875.0 877.5 887.6 887.7 889.3 909.0 88

89 Currency and transferable deposits 190.6 297.5 374.1 448.8 515.6 519.4 534.3 531.5 529.1 543.8 89

90 Time and savings deposits 313.8 300.6 324.1 344.4 359.3 358.1 353.3 356.2 360.1 365.2 90

91 Debt securities 47.6 54.5 60.6 62.1 64.6 56.7 51.2 53.7 54.3 55.0 91

92 Treasury securities 44.9 50.2 56.2 56.3 59.3 51.8 46.1 48.1 48.6 49.3 92

93 Municipal securities 2.7 4.3 4.4 5.8 5.3 4.9 5.1 5.6 5.7 5.8 93

94 Loans 26.3 30.8 36.2 34.6 42.1 39.1 37.9 42.1 42.5 43.1 94

95 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 95

96 Long term (mortgages) 26.3 30.8 36.2 34.6 42.1 39.1 37.9 42.1 42.5 43.1 96

97 Equity and investment fund shares 67.8 70.7 73.1 76.4 79.3 81.7 80.0 83.5 84.7 85.9 97

98 Money market mutual fund shares 63.6 66.5 69.0 72.2 74.3 75.4 73.7 76.8 77.7 78.8 98

99 Equity in government-sponsored enterprises (2) 4.2 4.2 4.1 4.3 5.0 6.4 6.3 6.7 7.0 7.2 99

100 Insurance, pension and standardized guarantee schemes (3) 89.2 93.7 99.2 103.6 107.3 111.5 101.7 131.4 119.8 134.9 100

101 Other accounts receivable 1053.4 1311.5 1629.3 2046.5 2427.6 2526.6 2417.6 2529.4 2553.9 2590.4 101

102 Trade receivables 337.7 364.3 430.9 470.9 525.6 522.7 496.3 533.4 539.2 546.8 102

103 Other (miscellaneous assets) 715.7 947.1 1198.4 1575.6 1902.0 2003.9 1921.3 1996.0 2014.8 2043.6 103
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

104 Total liabilities and net worth 9349.4 10929.6 12591.5 13614.1 14268.3 13255.0 11931.4 12554.1 13107.4 13879.2 104

105 Liabilities 3282.0 3637.2 4180.2 4763.6 5348.9 5794.4 5730.0 5674.4 5753.6 5859.4 105

106 Loans 2301.5 2556.1 2897.7 3312.9 3774.5 4093.2 3984.5 3949.8 3985.0 4071.6 106

107 Short term 606.8 640.9 805.0 937.1 1091.5 1223.4 1116.1 1097.8 1155.1 1252.6 107

108 Depository institution loans n.e.c. 479.7 512.6 670.4 785.7 926.5 1046.1 944.0 927.2 983.9 1072.0 108

109 Other loans and advances 127.1 128.3 134.6 151.4 165.0 177.3 172.0 170.6 171.2 180.6 109

110 Long term (mortgages) 1694.7 1915.3 2092.7 2375.9 2683.0 2869.9 2868.5 2852.0 2829.9 2819.1 110

111 Equity and investment fund shares (direct investment in the U.S.) 3.3 3.0 3.3 3.6 3.6 3.7 4.8 5.3 5.9 6.4 111

112 Other accounts payable 977.3 1078.1 1279.1 1447.1 1570.8 1697.5 1740.7 1719.3 1762.7 1781.4 112

113 Trade payables 261.2 284.9 334.5 348.9 374.9 380.6 397.4 427.7 435.5 434.4 113

114 Taxes payable 69.7 78.0 86.7 95.7 99.5 106.2 99.9 99.2 100.3 102.4 114

115 Other (miscellaneous liabilities) 646.5 715.2 857.9 1002.5 1096.4 1210.7 1243.3 1192.4 1226.8 1244.5 115

116 Net worth 6067.4 7292.4 8411.3 8850.5 8919.4 7460.6 6201.4 6879.7 7353.8 8019.8 116

Notes. Nonfinancial noncorporate business includes noncorporate farms that are excluded from the nonfinancial noncorporate business sector in the Financial Accounts of the United States.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Net equity in reserves of property-casualty insurance companies.

(4) Farm houses are included in the household sector.

n.e.c. Not elsewhere classified
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S.5.a Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

 Current account

 1 Gross value added 5724.4 6107.9 6532.1 6988.0 7203.9 7258.1 6861.4 7243.1 7636.4 8030.8 1

 2 Less: Consumption of fixed capital 818.0 850.2 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1135.8 1188.2 2

 3 Equals: Net value added 4906.5 5257.7 5622.2 6008.7 6163.6 6164.2 5769.4 6148.6 6500.6 6842.7 3

 4 Compensation of employees (paid) 3595.7 3762.8 3930.3 4129.3 4305.3 4358.0 4088.4 4168.0 4374.3 4600.8 4

 5 Wages and salaries 2962.2 3099.9 3238.0 3420.9 3572.1 3619.5 3377.5 3446.1 3624.7 3824.8 5

 6 Employers’ social contributions 633.4 662.9 692.3 708.5 733.3 738.5 710.9 721.9 749.6 776.0 6

 7 Taxes on production and imports less subsidies 495.8 530.9 573.2 610.1 632.5 632.7 605.9 633.0 664.2 685.3 7

 8 Operating surplus, net 815.1 964.1 1118.7 1269.3 1225.8 1173.5 1075.1 1347.6 1462.1 1556.5 8

 9 Net national income/Balance of primary incomes, net 467.9 561.7 757.8 764.6 669.1 575.9 633.3 902.4 960.4 997.2 9

10 Operating surplus, net 815.1 964.1 1118.7 1269.3 1225.8 1173.5 1075.1 1347.6 1462.1 1556.5 10

11 Property income (received) 420.2 480.6 614.6 644.1 687.4 626.9 565.0 580.3 568.2 577.2 11

12 Interest 236.4 251.9 296.9 357.6 379.4 302.8 214.6 177.5 180.0 177.8 12

13 Distributed income of corporations (dividends) 55.8 66.3 300.3 79.7 92.3 108.0 138.7 134.4 96.8 98.7 13

14 Reinvested earnings on U.S. direct investment abroad 128.0 162.4 17.4 206.9 215.7 216.1 211.7 268.3 291.5 300.8 14

15 Less: Uses of property income (paid) 767.4 883.0 975.6 1148.8 1244.1 1224.6 1006.8 1025.4 1069.9 1136.5 15

16 Interest 391.6 394.6 451.0 521.1 605.7 584.5 480.0 444.5 445.6 451.8 16

17 Distributed income of corporations (dividends) 349.2 430.8 471.1 550.7 576.9 582.2 490.4 509.9 537.1 577.4 17

18 Reinvested earnings on foreign direct investment 12.0 40.5 34.0 56.6 38.9 32.1 18.1 51.8 65.7 85.8 18

19 Rent 14.7 17.1 19.4 20.3 22.6 25.9 18.2 19.2 21.6 21.5 19

20 Net national income/Balance of primary incomes, net 467.9 561.7 757.8 764.6 669.1 575.9 633.3 902.4 960.4 997.2 20

21 Less: Current taxes on income, wealth, etc. (paid) 132.9 187.0 271.9 307.7 293.8 227.4 177.8 220.6 222.3 256.9 21

22 Less: Other current transfers (paid) 61.8 62.0 74.2 70.4 62.2 51.7 73.4 83.2 89.3 92.5 22

23 Equals: Disposable income, net 273.2 312.7 411.7 386.5 313.1 296.7 382.1 598.6 648.8 647.8 23

24 Equals: Net saving 273.2 312.7 411.7 386.5 313.1 296.7 382.1 598.6 648.8 647.8 24

 Capital account

25 Net saving less capital transfers 273.3 319.3 427.2 386.5 313.1 300.4 343.8 577.7 655.2 664.5 25

26 Net saving 273.2 312.7 411.7 386.5 313.1 296.7 382.1 598.6 648.8 647.8 26

27 Less: Capital transfers paid (net) -0.1 -6.7 -15.5 -0.0 -0.0 -3.7 38.3 20.9 -6.4 -16.7 27

28 Capital formation, net 158.2 211.9 280.9 360.4 341.6 264.7 -82.8 149.0 207.7 321.3 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 960.0 1010.1 1133.4 1259.9 1348.2 1372.7 1141.9 1181.0 1305.3 1438.9 29

30 Less: Consumption of fixed capital 818.0 850.2 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1135.8 1188.2 30

31 Acquisition of nonproduced nonfinancial assets -2.1 -1.8 1.0 13.6 0.4 17.6 6.3 -1.1 -0.9 -0.4 31

32 Change in private inventories 18.3 53.9 56.4 66.3 33.3 -31.6 -139.0 63.7 39.1 71.0 32

33 Net lending (+) or borrowing (-), capital account (lines 25-28) 115.1 107.4 146.3 26.1 -28.5 35.7 426.6 428.7 447.5 343.2 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 115.1 107.4 146.3 26.1 -28.5 35.7 426.6 428.7 447.5 343.2 34

35 Net acquisition of financial assets 87.6 780.2 945.7 700.7 1074.6 -604.2 302.4 633.2 494.1 684.6 35

36 Currency and deposits 133.0 56.2 120.6 -84.8 -62.3 -214.0 254.5 148.7 37.1 53.0 36

37 Currency and transferable deposits 44.0 3.0 60.8 -117.2 -7.6 -59.0 70.7 79.7 29.7 15.1 37

38 Time and savings deposits 71.5 37.7 49.9 46.6 -55.7 -129.4 176.9 59.9 13.2 36.8 38

39 Foreign deposits 17.6 15.6 9.9 -14.2 0.9 -25.5 6.8 9.1 -5.8 1.0 39

40 Debt securities 10.8 16.2 40.4 -1.2 -61.7 -25.7 16.3 15.6 -8.5 -10.9 40

41 Open market paper 10.9 19.3 16.0 11.7 -53.2 -12.2 -1.3 12.0 -0.1 -8.0 41

42 Treasury securities 2.3 0.3 18.1 -6.7 -7.1 -7.9 12.5 5.1 -5.1 -3.4 42

43 Agency- and GSE-backed securities (1) -5.7 0.1 6.0 -2.2 -2.4 -2.6 4.2 1.7 -1.7 -1.1 43

44 Municipal securities 3.3 -3.6 0.3 -4.0 1.1 -3.0 0.9 -3.2 -1.6 1.7 44

45 Loans -13.7 15.4 10.2 -14.0 -21.6 -9.8 -5.5 -8.7 1.8 -1.9 45

46 Short term (security repos and consumer credit) -15.9 0.6 8.5 -5.5 -3.2 -2.0 -1.4 -7.1 2.4 -1.1 46

47 Long term (mortgages) 2.2 14.8 1.7 -8.4 -18.4 -7.7 -4.1 -1.6 -0.6 -0.8 47

48 Equity and investment fund shares 103.3 284.1 142.5 334.9 374.6 423.5 224.3 183.6 359.9 386.5 48

49 Money market fund shares -30.4 10.3 52.7 69.1 127.2 178.5 -71.4 -157.7 -35.4 18.2 49

50 Mutual fund shares 5.8 -1.3 0.7 23.6 -4.9 -16.5 35.3 11.1 -12.8 -0.0 50

51 U.S. direct investment abroad 125.3 272.4 24.7 219.2 307.0 262.6 269.7 303.3 399.8 365.8 51

52 Equity in government-sponsored enterprises (1) 0.1 0.1 0.0 0.1 0.1 -0.1 0.0 0.1 -0.0 0.0 52

53 Investment in finance company subsidiaries 2.6 2.6 64.4 22.9 -54.8 -1.1 -9.3 26.7 8.4 2.6 53

54 Insurance, pension and standardized guarantee schemes (2) 19.1 19.7 21.3 7.6 8.3 11.0 -4.0 11.9 10.0 7.4 54
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

55 Other accounts receivable -164.9 388.6 610.8 458.1 837.3 -789.3 -183.2 282.2 93.8 250.5 55

56 Trade receivables -17.7 128.8 277.6 -13.8 159.8 -169.6 -31.2 105.7 83.8 83.6 56

57 Other (miscellaneous assets) -147.1 259.8 333.2 471.9 677.5 -619.7 -152.0 176.5 10.0 166.8 57

58 Net incurrence of liabilities 13.5 614.2 965.6 839.3 1281.1 339.1 -248.5 487.8 894.4 1196.4 58

59 Debt securities 124.4 119.5 97.6 294.5 402.6 299.1 375.8 496.3 452.7 608.8 59

60 Open market paper -37.3 15.3 -7.7 22.4 11.3 7.7 -73.1 24.5 33.4 14.0 60

61 Municipal securities 3.3 10.6 41.9 53.3 68.4 66.0 37.2 33.2 8.5 15.2 61

62 Corporate bonds 158.4 93.6 63.5 218.8 323.0 225.4 411.7 438.6 410.8 579.6 62

63 Loans -36.0 129.8 274.2 237.9 453.0 72.1 -526.4 -307.0 50.2 52.1 63

64 Short term -84.0 55.1 83.1 150.0 383.9 132.1 -394.8 -177.4 129.1 46.7 64

65 Depository institution loans n.e.c. -91.4 4.0 -27.1 22.1 96.3 64.2 -234.0 -87.0 68.9 80.4 65

66 Other loans and advances 7.3 51.1 110.2 127.9 287.6 67.9 -160.8 -90.4 60.2 -33.7 66

67 Long term (mortgages) 48.0 74.7 191.1 87.9 69.1 -60.1 -131.6 -129.6 -78.8 5.3 67

68 Equity and investment fund shares 0.4 -26.7 -243.1 -373.7 -574.7 -144.8 42.5 -120.4 -277.0 -234.4 68

69 Corporate equities -39.6 -122.7 -341.8 -565.7 -786.8 -334.3 -62.1 -277.4 -472.2 -399.5 69

70 Foreign direct investment in the United States 40.0 96.0 98.7 192.0 212.1 189.6 104.6 157.0 195.2 165.1 70

71 Insurance, pension and standardized guarantee schemes 56.3 77.8 90.7 146.1 -1.0 137.8 74.3 0.6 -9.6 49.2 71

72 Pension fund contributions payable -0.2 -3.1 -1.9 -2.0 4.5 14.7 -8.4 15.4 3.0 -0.9 72

73 Claim of pension fund on sponsor 56.5 81.0 92.6 148.1 -5.6 123.0 82.7 -14.9 -12.5 50.1 73

74 Other accounts payable -131.6 313.7 746.1 534.4 1001.2 -25.1 -214.7 418.2 678.0 720.8 74

75 Trade payables -54.7 97.7 199.0 109.0 85.1 -225.2 -82.6 156.3 25.2 83.2 75

76 Taxes payable -11.7 6.8 -1.8 -0.8 -49.6 3.1 -3.3 7.2 8.8 2.3 76

77 Miscellaneous liabilities -65.1 209.3 548.8 426.2 965.7 196.9 -128.9 254.8 644.0 635.2 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-58) 74.1 166.1 -19.9 -138.6 -206.5 -943.3 551.0 145.5 -400.3 -511.9 78

 Other changes in volume account

79 Total other volume changes 131.9 294.3 327.3 644.3 756.8 -722.2 172.3 415.5 -72.4 -215.8 79

80 Disaster losses 0.0 -9.2 -22.7 0.0 0.0 -5.8 0.0 0.0 0.0 -6.9 80

81 Other volume changes 163.3 205.3 484.0 773.4 895.2 225.6 54.6 657.7 719.3 636.1 81

82 Less: Statistical discrepancy (lines 33-78) (3) 40.9 -58.6 166.2 164.7 178.0 979.0 -124.3 283.2 847.8 855.1 82

83 Less: Inventory valuation adjustment -9.6 -39.5 -32.1 -35.7 -39.5 -37.0 6.7 -41.0 -56.0 -10.0 83

 Revaluation account

84 Nonfinancial assets 187.0 1318.5 937.7 981.1 1474.7 -1098.7 -2612.1 876.0 826.1 558.5 84

85 Real estate 164.7 1197.7 811.5 873.2 1341.2 -1149.9 -2644.9 741.8 693.8 484.8 85

86 Equipment -20.1 71.0 53.0 80.9 33.8 104.8 -10.1 48.4 62.2 21.1 86

87 Intellectual property products 22.0 11.8 29.3 22.2 31.2 12.8 3.0 22.2 27.6 45.2 87

88 Inventories 20.4 38.0 43.9 4.7 68.5 -66.5 39.9 63.6 42.5 7.4 88

89 Financial assets 26.1 89.2 94.5 31.0 154.8 -199.6 -15.3 -131.9 -15.2 -10.7 89

90 Mutual fund shares 18.2 11.9 8.1 15.2 9.7 -55.2 20.4 13.6 -8.1 14.2 90

91 Direct investment abroad 7.9 77.2 86.3 15.9 145.1 -144.4 -35.7 -145.6 -7.1 -24.9 91

92 Liabilities 2682.0 1377.9 980.7 2462.7 1942.3 -5481.0 2389.2 2122.0 591.0 2027.0 92

93 Corporate equity 2672.5 1366.1 939.8 2481.5 1915.2 -5379.8 2557.7 2136.8 601.6 2031.0 93

94 Foreign direct investment in the United States 9.5 11.8 41.0 -18.8 27.1 -101.2 -168.5 -14.8 -10.7 -4.0 94

95 Changes in net worth due to nominal holding gains/losses -2468.9 29.8 51.4 -1450.6 -312.8 4182.7 -5016.6 -1378.0 220.0 -1479.2 95

 Changes in balance sheet account

96 Change in net worth (lines 28+33+79+95) (4) -2063.8 643.4 805.9 -419.7 757.1 3760.9 -4500.5 -384.8 802.8 -1030.5 96

 Balance sheet account (end of period)

97 Total assets 21490.6 23864.5 26068.7 28204.2 31184.2 29540.0 27214.6 29012.5 30596.4 32225.6 97

98 Nonfinancial assets (5) 11367.3 12919.8 14159.9 15536.6 17422.6 16603.1 13880.8 14978.8 16073.2 16950.5 98

99 Real estate 5806.5 7040.2 7911.7 8879.8 10366.4 9358.5 6776.5 7578.2 8318.5 8884.9 99

100 Equipment 3018.8 3161.2 3318.5 3541.7 3710.5 3894.2 3826.9 3887.7 4023.7 4146.9 100

101 Intellectual property products 1181.5 1226.6 1305.5 1384.3 1473.6 1539.3 1572.1 1639.3 1719.8 1819.1 101

102 Inventories 1360.4 1491.7 1624.2 1730.9 1872.2 1811.1 1705.3 1873.6 2011.2 2099.6 102

103 Financial assets 10123.4 10944.8 11908.9 12667.6 13761.6 12936.9 13333.8 14033.7 14523.2 15275.1 103

104 Currency and deposits 605.1 661.3 781.9 697.1 634.8 420.8 675.3 824.0 861.1 914.0 104

105 Currency and transferable deposits 204.2 207.2 268.0 150.8 143.2 84.2 155.0 234.6 264.3 279.4 105

106 Time and savings deposits 362.8 400.5 450.4 497.0 441.3 311.9 488.8 548.7 561.9 598.8 106

107 Foreign deposits 38.1 53.7 63.6 49.3 50.3 24.7 31.5 40.6 34.8 35.8 107
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

108 Debt securities 156.0 172.2 212.6 211.4 149.7 124.1 140.4 155.9 147.4 136.5 108

109 Open market paper 75.7 95.0 111.0 122.7 69.5 57.3 56.0 68.0 67.9 59.8 109

110 Treasury securities 33.7 34.0 52.1 45.5 38.3 30.5 43.0 48.0 43.0 39.5 110

111 Agency- and GSE-backed securities (1) 11.2 11.3 17.4 15.2 12.8 10.2 14.3 16.0 14.3 13.2 111

112 Municipal securities 35.4 31.8 32.1 28.1 29.2 26.2 27.1 23.9 22.3 24.0 112

113 Loans 116.8 132.2 142.4 127.5 105.8 96.1 90.6 85.6 87.4 85.5 113

114 Short term 65.1 65.6 74.1 67.7 64.5 62.4 61.0 57.6 60.0 58.9 114

115 Security repurchases 6.0 6.4 14.6 15.5 8.1 7.2 7.9 12.1 12.6 9.7 115

116 Consumer credit 59.1 59.2 59.6 52.1 56.4 55.2 53.2 45.5 47.4 49.2 116

117 Long term (mortgages) 51.8 66.6 68.3 59.8 41.4 33.6 29.5 28.0 27.4 26.6 117

118 Equity and investment fund shares 2170.6 2543.9 2809.9 3175.9 3701.6 3925.3 4134.3 4148.8 4493.5 4869.3 118

119 Money market fund shares 289.3 299.6 352.2 421.3 548.5 727.0 655.5 497.8 462.4 480.6 119

120 Mutual fund shares 114.9 125.6 134.4 173.2 178.0 106.3 162.0 186.8 165.9 180.1 120

121 U.S. direct investment abroad 1745.1 2094.7 2205.7 2440.7 2892.9 3011.1 3245.1 3402.9 3795.6 4136.4 121

122 Equity in government-sponsored enterprises (1) 0.4 0.5 0.5 0.6 0.7 0.4 0.5 0.6 0.5 0.6 122

123 Investment in finance company subsidiaries 21.0 23.6 117.0 140.1 81.5 80.5 71.2 60.7 69.1 71.7 123

124 Insurance, pension and standardized guarantee schemes (2) 243.0 262.7 284.0 291.6 300.0 311.1 307.1 319.0 329.0 336.5 124

125 Other accounts receivable 6831.8 7172.4 7678.1 8164.0 8869.7 8059.5 7986.1 8500.3 8604.7 8933.2 125

126 Trade receivables 1701.8 1830.6 2108.2 2095.4 2255.2 2085.7 2054.5 2156.5 2240.3 2324.0 126

127 Other (miscellaneous assets) 5130.0 5341.8 5569.9 6068.6 6614.4 5973.8 5931.6 6343.8 6364.4 6609.2 127

128 Total liabilities and net worth 21490.6 23864.5 26068.7 28204.2 31184.2 29540.0 27214.6 29012.5 30596.4 32225.6 128

129 Liabilities 20739.9 22470.4 23868.7 26423.9 28646.8 23241.7 25416.8 27599.4 28380.6 31040.3 129

130 Debt securities 3276.6 3407.1 3504.7 3799.2 4201.9 4501.0 4876.8 5373.1 5825.8 6434.6 130

131 Open market paper 82.5 97.8 90.1 112.5 123.8 131.5 58.4 82.9 116.3 130.3 131

132 Municipal securities 163.9 185.4 227.3 280.6 349.0 415.0 452.2 485.4 493.9 509.1 132

133 Corporate bonds 3030.2 3123.8 3187.3 3406.1 3729.1 3954.5 4366.2 4804.8 5215.6 5795.2 133

134 Loans 1876.9 2006.8 2281.0 2539.7 2999.2 3066.3 2455.7 2081.9 2132.1 2227.7 134

135 Short term 1356.3 1411.4 1494.5 1641.6 2032.0 2164.1 1685.2 1425.7 1554.7 1645.0 135

136 Depository institution loans n.e.c. 614.1 618.0 591.0 613.1 715.9 780.1 546.0 477.4 546.3 608.1 136

137 Other loans and advances 742.2 793.3 903.5 1028.5 1316.1 1384.0 1139.1 948.3 1008.5 1036.9 137

138 Long term (mortgages) 520.7 595.4 786.5 898.1 967.2 902.2 770.6 656.2 577.4 582.7 138

139 Equity and investment fund shares 12147.2 13498.4 14236.0 16325.1 17692.7 12066.9 14498.6 16500.3 16814.3 18606.8 139

140 Corporate equity 10845.2 12088.6 12686.6 14602.3 15730.7 10016.6 12512.2 14371.6 14501.0 16132.4 140

141 Foreign direct investment in the United States 1302.0 1409.8 1549.4 1722.7 1961.9 2050.3 1986.4 2128.7 2313.3 2474.4 141

142 Insurance, pension and standardized guarantee schemes 78.0 80.9 14.6 35.9 48.5 761.4 573.2 537.6 580.7 533.3 142

143 Pension fund contributions payable 49.8 46.6 44.8 64.7 69.3 84.0 75.6 91.1 94.0 93.2 143

144 Claim of pension fund on sponsor 28.2 34.3 -30.1 -28.8 -20.8 677.4 497.6 446.5 486.6 440.2 144

145 Other accounts payable 3361.1 3477.2 3832.3 3724.0 3704.5 2846.2 3012.5 3106.5 3027.7 3237.8 145

146 Trade payables 1403.9 1501.6 1700.6 1812.9 1897.9 1672.7 1590.2 1746.5 1771.7 1854.9 146

147 Taxes payable 81.2 88.0 86.2 85.4 35.8 39.0 35.7 42.9 51.7 54.0 147

148 Miscellaneous liabilities 1876.0 1887.7 2045.5 1825.7 1770.8 1134.5 1386.6 1317.2 1204.3 1328.9 148

149 Net worth 750.8 1394.2 2200.1 1780.4 2537.4 6298.3 1797.8 1413.0 2215.8 1185.3 149

Notes. Nonfinancial corporate business includes corporate farms that are excluded from the nonfinancial corporate business sector in the Financial Accounts of the United States.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) Net equity in reserves of property-casualty insurance companies.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Financial Accounts of the United States.

(5) Excludes nonproduced nonfinancial assets.

n.e.c. Not elsewhere classified
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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

 Current account

 1 Gross value added 885.6 922.1 1034.3 1127.6 1068.8 852.3 1015.7 1039.9 1025.1 1090.3 1

 2 Less: Consumption of fixed capital 130.0 139.3 148.9 156.8 165.4 173.9 177.4 176.7 179.0 186.6 2

 3 Equals: Net value added 755.6 782.8 885.5 970.8 903.4 678.4 838.4 863.3 846.0 903.7 3

 4 Compensation of employees (paid) 460.5 498.5 535.4 579.8 618.2 612.9 549.0 572.5 610.1 633.6 4

 5 Wages and salaries 390.6 423.0 449.4 490.8 527.1 517.9 466.2 486.4 514.3 538.3 5

 6 Employers’ social contributions 69.9 75.5 86.0 89.0 91.1 95.0 82.8 86.1 95.9 95.3 6

 7 Taxes on production and imports less subsidies 42.9 46.6 49.5 52.5 54.7 55.6 64.2 64.8 61.0 61.5 7

 8 Operating surplus, net 252.2 237.7 300.6 338.5 230.5 9.9 225.2 226.0 174.9 208.6 8

 9 Net national income/Balance of primary incomes, net 206.6 213.1 200.3 205.2 110.7 -1.7 290.8 375.8 324.9 322.4 9

10 Operating surplus, net 252.2 237.7 300.6 338.5 230.5 9.9 225.2 226.0 174.9 208.6 10

11 Property income (received) 1439.2 1675.2 2078.1 2657.4 3096.1 2718.3 2096.6 2027.0 2040.0 1990.3 11

12 Interest 1304.9 1499.9 1886.6 2403.6 2786.6 2398.5 1834.4 1714.0 1709.2 1625.8 12

13 Distributed income of corporations (dividends) 113.2 145.2 188.6 212.9 263.7 270.3 211.1 244.8 261.1 297.2 13

14 Reinvested earnings on U.S. direct investment abroad 21.1 30.1 2.9 40.9 45.7 49.5 51.1 68.3 69.6 67.3 14

15 Less: Uses of property income (paid) 1484.8 1699.7 2178.4 2790.8 3215.8 2729.9 2031.0 1877.3 1890.0 1876.5 15

16 Interest 1210.4 1360.7 1785.2 2338.0 2708.9 2275.4 1636.7 1469.7 1455.2 1372.4 16

17 Distributed income of corporations 271.9 329.8 385.1 440.0 497.4 447.2 390.6 396.7 419.7 484.2 17

18 Dividends 221.8 282.4 337.5 390.0 457.6 424.2 316.2 311.8 366.0 431.9 18

19 Withdrawals from income of quasi-corporations (1) 50.1 47.4 47.7 50.0 39.8 23.0 74.4 84.9 53.8 52.3 19

20 Reinvested earnings on foreign direct investment 2.5 9.3 8.0 12.8 9.5 7.3 3.7 10.9 15.1 19.9 20

21 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net 206.6 213.1 200.3 205.2 110.7 -1.7 290.8 375.8 324.9 322.4 22

23 Less: Current taxes on income, wealth, etc. (paid) 110.9 119.1 140.5 165.7 151.7 81.7 91.6 150.0 151.9 177.8 23

24 Less: Other current transfers (paid) -9.7 -6.5 -13.4 -21.1 7.5 46.0 26.9 18.4 19.8 -12.0 24

25 Equals: Disposable income, net 105.5 100.5 73.1 60.6 -48.5 -129.4 172.3 207.4 153.1 156.5 25

26 Equals: Net saving 105.5 100.5 73.1 60.6 -48.5 -129.4 172.3 207.4 153.1 156.5 26

 Capital account

27 Net saving less capital transfers 105.5 84.3 45.4 60.6 -48.5 -68.9 294.2 248.9 185.5 146.9 27

28 Net saving 105.5 100.5 73.1 60.6 -48.5 -129.4 172.3 207.4 153.1 156.5 28

29 Less: Capital transfers paid (net) 0.0 16.2 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 9.6 29

30 Capital formation, net 26.5 37.2 31.1 31.9 46.1 22.3 -10.5 -13.9 -3.8 6.8 30

31 Gross fixed capital formation (nonresidential) 156.5 176.5 180.0 188.7 211.5 196.2 166.9 162.8 175.2 193.4 31

32 Less: Consumption of fixed capital 130.0 139.3 148.9 156.8 165.4 173.9 177.4 176.7 179.0 186.6 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) 78.9 47.1 14.3 28.8 -94.6 -91.2 304.7 262.8 189.3 140.2 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 78.9 47.1 14.3 28.8 -94.6 -91.2 304.7 262.8 189.3 140.2 34

35 Net acquisition of financial assets 3144.3 3714.8 3754.8 4600.3 5517.5 4254.3 -1235.3 34.8 2217.2 1980.4 35

36 Monetary gold 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 Currency and deposits -47.3 43.9 -12.3 74.8 170.5 1009.3 228.5 -143.4 528.8 -37.3 37

38 Debt securities 1078.6 464.6 652.7 1109.4 1052.0 1240.7 791.8 834.1 1362.6 1089.0 38

39 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 39

40 Open market paper -153.5 40.7 204.7 241.1 -95.5 -8.1 -396.8 -103.3 -75.9 -4.5 40

41 Treasury securities 88.5 -42.6 52.0 85.4 36.0 441.4 365.6 502.9 974.8 299.8 41

42 Agency- and GSE-backed securities (2) 431.8 -209.8 -249.3 97.0 283.0 725.3 681.3 52.6 159.4 219.9 42

43 Municipal securities 110.7 79.5 115.6 131.2 184.7 42.2 38.4 44.1 13.4 137.9 43

44 Corporate and foreign bonds 576.5 555.9 489.7 519.0 610.5 -23.3 38.3 272.1 220.2 395.5 44

45 Nonmarketable government securities 24.7 40.9 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 45

46 Loans 1152.3 1879.7 2064.8 2110.5 2694.1 1455.7 -2944.3 -508.3 151.8 438.0 46

47 Short term 162.8 665.6 653.2 710.3 1563.4 1224.3 -2877.7 -192.9 306.9 498.9 47

48 Long term (mortgages) 989.5 1214.1 1411.6 1400.2 1130.7 231.3 -66.6 -315.4 -155.1 -60.9 48

49 Equity and investment fund shares 330.3 657.2 531.0 505.7 1224.8 849.3 36.2 -134.9 -89.4 194.7 49

50 Corporate equities 256.6 330.8 283.7 184.8 422.1 225.8 166.1 86.1 -64.1 81.4 50

51 Mutual fund shares -2.0 95.5 47.0 97.1 90.0 51.1 63.5 12.1 -59.6 7.0 51

52 Money market mutual fund shares -78.0 -110.3 12.0 -6.6 331.2 283.6 -174.6 -172.5 -71.4 -35.0 52

53 Equity in government-sponsored enterprises (2) 2.5 2.4 2.0 -0.0 8.3 -5.3 0.0 -3.2 -6.2 -2.0 53

54 U.S. direct investment abroad 24.3 43.8 11.5 25.8 107.0 66.4 40.7 -2.3 9.2 22.5 54

55 Stock in Federal Reserve Banks 0.5 3.1 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 55

56 Investment in subsidiaries 126.4 291.9 173.2 202.8 263.1 225.0 -64.1 -56.0 102.4 120.3 56
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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

57 Insurance, pension and standardized guarantee schemes 273.1 239.2 194.1 252.6 199.2 313.0 471.5 300.0 344.9 413.8 57

58 Other accounts receivable 357.3 430.2 324.5 547.3 177.0 -613.7 181.0 -312.7 -81.6 -117.6 58

59 Net incurrence of liabilities 2954.6 3769.5 3414.5 4345.9 5399.9 4415.8 -1263.3 62.0 2186.1 1873.7 59

60 Currency and deposits 450.3 601.8 608.9 620.6 548.7 2146.1 262.3 334.1 1457.3 595.0 60

61 Debt securities 1010.5 805.8 1039.8 1319.9 1522.3 442.0 -956.5 -693.7 -325.8 -302.9 61

62 Agency- and GSE-backed securities (2) 586.2 115.8 80.4 328.2 905.7 768.7 -60.1 -46.9 -21.9 -22.4 62

63 Corporate bonds 487.8 668.3 745.2 795.3 728.1 -201.4 -448.4 -544.6 -235.8 -221.7 63

64 Commercial paper -63.5 21.7 214.2 196.4 -111.5 -125.4 -448.1 -102.2 -68.2 -58.8 64

65 Loans 324.7 609.9 547.3 589.9 882.8 -155.5 -1646.0 -59.6 197.7 130.7 65

66 Short term 315.8 584.4 533.2 583.4 878.1 -162.3 -1657.8 -60.5 184.3 125.8 66

67 Long term (mortgages) 8.9 25.5 14.1 6.6 4.7 6.8 11.8 0.8 13.5 4.8 67

68 Equity and investment fund shares 250.5 649.7 698.0 931.5 1469.0 1717.3 271.0 73.8 498.8 980.3 68

69 Money market mutual fund shares -212.6 -136.4 125.1 303.1 736.8 724.2 -498.7 -503.2 -112.8 7.1 69

70 Corporate equity issues 66.0 118.1 78.4 60.0 179.6 639.2 316.4 191.4 164.1 168.1 70

71 Mutual fund shares 288.1 296.3 260.2 336.8 361.5 -9.9 497.1 370.1 338.4 624.9 71

72 Equity in government-sponsored enterprises (2) 3.2 2.5 1.9 0.2 9.1 -4.2 0.0 -2.7 -5.9 -1.8 72

73 Foreign direct investment in the United States 23.9 50.2 13.9 52.0 9.3 120.7 45.7 48.5 34.9 0.7 73

74 Equity in noncorporate business -3.4 -4.2 -1.2 -6.8 3.6 11.6 0.6 0.9 -1.7 6.5 74

75 Investment by parent 84.9 320.1 218.1 184.4 166.1 233.0 -94.5 -32.0 81.5 174.4 75

76 Stock in Federal Reserve Banks 0.5 3.1 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 76

77 Insurance, pension and standardized guarantee schemes 695.8 720.2 663.4 666.7 690.3 633.5 523.2 628.3 632.4 498.8 77

78 Other accounts payable 222.8 382.1 -142.8 217.2 286.8 -367.6 282.7 -220.8 -274.4 -28.1 78

 Addendum:

79 Net lending (+) or borrowing (-), financial account (lines 35-59) 189.7 -54.7 340.3 254.4 117.6 -161.5 28.0 -27.3 31.1 106.7 79

 Other changes in volume account

80 Total other volume changes -702.7 -425.4 29.2 -426.9 -80.2 1221.3 -1076.3 -880.7 -164.6 -416.0 80

81 Disaster losses 0.0 -1.7 -1.7 0.0 0.0 -0.6 0.0 0.0 0.0 -2.0 81

82 Other volume changes -813.5 -322.0 -295.1 -652.5 -292.4 1292.2 -799.5 -590.7 -6.4 -380.6 82

83 Less: Statistical discrepancy (lines 33-79) (3) -110.8 101.7 -326.0 -225.6 -212.2 70.3 276.8 290.1 158.2 33.4 83

 Revaluation account

84 Nonfinancial assets 12.4 71.7 78.4 71.9 36.3 65.6 -48.7 6.3 41.9 26.2 84

85 Structures (nonresidential) 17.2 63.9 75.1 66.9 38.1 59.0 -47.0 1.4 35.0 15.8 85

86 Equipment -3.4 8.1 2.0 2.9 -3.1 5.3 -0.6 5.0 6.0 6.6 86

87 Intellectual property products -1.5 -0.3 1.2 2.1 1.4 1.3 -1.0 -0.0 0.9 3.7 87

88 Financial assets 2145.3 1178.7 928.9 1779.9 760.0 -5991.2 2683.0 1726.1 -583.6 1804.6 88

89 Corporate equities 1862.7 1004.1 614.4 1456.5 622.4 -5099.8 2145.0 1413.9 -524.4 1486.5 89

90 Mutual fund shares 252.7 124.0 283.9 287.7 91.8 -902.2 483.8 271.5 -46.8 266.9 90

91 U.S. direct investment abroad 30.0 50.6 30.7 35.7 45.8 10.8 54.2 40.7 -12.3 51.2 91

92 Liabilities 2045.8 1149.0 880.8 1828.2 -539.6 -6423.1 2178.6 1595.5 -790.9 1862.5 92

93 Corporate equity issues 795.9 459.1 262.4 716.1 -985.4 -2366.0 386.3 525.9 -373.5 695.0 93

94 Mutual fund shares 726.8 483.8 352.4 682.6 396.0 -2424.7 1035.6 582.2 -340.4 717.8 94

95 Foreign direct investment in the United States 8.4 4.0 9.4 22.5 -56.7 -157.6 17.9 34.1 35.9 15.5 95

96 Equity in noncorporate business 11.4 2.4 1.7 4.8 -0.6 -13.6 3.6 0.3 -1.1 -1.0 96

97 Pension fund reserves 503.3 199.7 254.8 402.1 107.0 -1461.2 735.9 455.0 -111.4 435.3 97

98 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 -0.6 -2.0 -0.3 -0.1 98

99 Changes in net worth due to nominal holding gains/losses 111.9 101.4 126.5 23.6 1336.0 497.5 455.7 136.9 249.2 -31.7 99

 Changes in balance sheet account

100 Change in net worth (lines 30+33+80+99) -485.4 -239.7 201.1 -342.6 1207.3 1649.9 -326.4 -494.9 270.1 -300.7 100

 Balance sheet account (end of period)

101 Total assets 47740.5 52621.5 57064.8 62898.1 69121.6 69085.8 70074.5 71144.3 72797.7 77063.2 101

102 Nonfinancial assets (4) 1194.4 1301.7 1409.5 1513.3 1595.7 1683.0 1623.8 1616.3 1654.4 1685.4 102

103 Structures (nonresidential) 690.2 759.9 841.3 916.3 969.3 1035.8 988.3 979.3 1001.8 1005.8 103

104 Equipment 400.4 427.4 447.3 469.8 487.8 493.6 468.4 469.3 479.9 497.0 104

105 Intellectual property products 103.9 114.4 120.8 127.1 138.5 153.7 167.1 167.7 172.7 182.5 105
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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

106 Financial assets 46546.1 51319.8 55655.4 61384.9 67525.9 67402.7 68450.7 69528.1 71143.3 75377.9 106

107 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 107

108 Currency and deposits 734.4 779.4 764.4 814.1 986.9 2032.0 2275.1 2177.5 2706.4 2693.3 108

109 Debt securities 13552.2 14036.8 14670.2 15693.3 16745.3 17988.5 18802.9 19058.0 20420.3 21601.7 109

110 SDR certificates 2.2 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 110

111 Open market paper 796.6 837.3 1042.0 1280.1 1184.5 1176.1 779.4 676.0 600.1 595.6 111

112 Treasury securities 1636.1 1593.5 1645.5 1735.5 1771.5 2212.9 2578.5 3081.4 4056.2 4368.0 112

113 Agency- and GSE-backed securities (2) 4577.3 4387.5 4138.2 4150.8 4433.9 5159.1 5894.9 5484.7 5644.1 5878.2 113

114 Municipal securities 1151.0 1230.5 1346.1 1477.0 1661.6 1703.8 1742.2 1786.3 1799.7 1937.6 114

115 Corporate and foreign bonds 4574.1 5130.0 5613.4 6129.1 6739.6 6719.2 6725.5 6881.5 7101.4 7563.1 115

116 Nonmarketable government securities 815.0 855.9 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 116

117 Loans 15822.3 17716.9 19781.7 21829.1 24481.0 25800.3 22567.9 21817.0 21817.2 22282.6 117

118 Short term 6833.3 7498.9 8152.1 8775.6 10328.6 11552.6 8622.4 8503.8 8810.8 9482.6 118

119 Long term (mortgages) 8989.0 10218.0 11629.6 13053.4 14152.4 14247.7 13945.6 13313.2 13006.5 12799.9 119

120 Equity and investment fund shares 11995.9 13831.8 15291.7 17129.7 19114.5 13972.6 17367.9 18959.1 18286.1 20712.1 120

121 Corporate equities 8077.4 9412.3 10310.4 11452.2 12496.8 7622.8 9934.0 11434.0 10845.4 12413.3 121

122 Mutual fund shares 1452.4 1671.9 2002.8 2352.4 2534.2 1683.1 2230.5 2514.0 2407.6 2681.6 122

123 Money market fund shares 614.7 504.4 516.4 563.9 895.0 1178.6 1004.0 831.5 760.1 725.2 123

124 Equity in government-sponsored enterprises (2) 37.7 40.1 42.0 42.0 50.3 45.0 45.0 41.7 35.5 33.5 124

125 U.S. direct investment abroad 309.4 403.8 446.0 507.4 660.2 737.4 832.3 870.7 867.5 941.3 125

126 Stock in Federal Reserve Banks 8.8 11.9 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 126

127 Investment in subsidiaries 1495.4 1787.3 1960.6 2196.5 2459.6 2684.6 3296.6 3240.6 3343.0 3889.9 127

128 Insurance, pension and standardized guarantee schemes 1896.2 2107.5 2112.2 2150.4 2243.6 3992.2 3826.7 4158.7 4533.9 4583.9 128

129 Other accounts receivable 2534.1 2836.4 3024.1 3757.2 3943.6 3606.0 3599.0 3346.8 3368.4 3493.3 129

130 Total liabilities and net worth 47740.5 52621.5 57064.8 62898.1 69121.6 69085.8 70074.5 71144.3 72797.7 77063.2 130

131 Liabilities 48771.0 53891.6 58133.9 64309.8 69326.0 67640.3 68955.4 70520.2 71903.4 76469.6 131

132 Currency and deposits 6846.8 7474.0 8082.9 8703.5 9252.2 11398.3 11660.6 11990.6 13447.9 14015.0 132

133 Debt securities 10158.8 10979.4 11964.7 13254.8 14888.0 15249.8 14497.1 13432.1 13032.3 12850.8 133

134 Agency- and GSE-backed securities (2) 5944.5 6060.3 6140.7 6468.9 7374.6 8143.4 8083.3 7574.0 7552.1 7529.7 134

135 Corporate bonds 3279.9 3963.1 4653.8 5422.4 6261.3 5980.2 5735.6 5282.0 4972.3 4871.9 135

136 Commercial paper 934.4 956.0 1170.2 1363.5 1252.1 1126.3 678.2 576.0 507.9 449.1 136

137 Loans 3872.5 4482.5 5029.8 5616.5 6499.3 6343.8 4768.4 4720.7 4913.1 5106.5 137

138 Short term 3766.7 4351.1 4884.3 5464.5 6342.6 6180.3 4593.2 4544.6 4723.5 4912.1 138

139 Long term (mortgages) 105.9 131.4 145.5 152.1 156.7 163.5 175.3 176.1 189.5 194.4 139

140 Equity and investment fund shares 12194.3 13793.2 15146.2 17537.1 18355.7 15111.2 17501.1 18678.2 18497.5 21441.6 140

141 Money market fund shares 2004.4 1868.0 1993.1 2296.3 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 141

142 Corporate equity issues 3713.9 4291.1 4631.9 5408.0 4602.2 2875.4 3578.1 4295.4 4085.9 4949.1 142

143 Mutual fund shares 4652.9 5433.0 6045.6 7065.0 7822.6 5388.0 6920.7 7873.0 7870.9 9323.6 143

144 Equity in government-sponsored enterprises (2) 42.3 44.8 46.7 46.9 56.0 51.8 51.8 49.0 43.1 41.2 144

145 Foreign direct investment in the United States 275.7 329.9 353.2 427.8 380.4 343.5 407.0 489.6 560.4 576.6 145

146 Equity in noncorporate business 13.0 11.2 11.7 9.7 12.6 10.7 14.8 15.9 13.1 18.6 146

147 Investment by parent 1483.4 1803.4 2050.4 2268.1 2430.5 2663.5 3244.5 3173.4 3254.6 3855.6 147

148 Stock in Federal Reserve Banks 8.8 11.9 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 148

149 Insurance, pension and standardized guarantee schemes 13316.0 14560.1 15527.1 16608.4 17457.9 16513.4 17817.8 19427.1 19936.5 20934.3 149

150 Other accounts payable 2382.6 2602.4 2383.2 2589.4 2873.0 3023.8 2710.3 2271.5 2076.1 2121.5 150

151 Net worth -1030.5 -1270.2 -1069.0 -1411.7 -204.4 1445.5 1119.1 624.2 894.3 593.6 151

Notes. Financial business includes depository institutions, insurance companies and pension funds, monetary authority, and other financial institutions.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.

SDRs Special Drawing Rights
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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

 Current account

 1 Gross value added 498.1 525.8 552.7 577.6 605.4 637.6 668.8 704.5 719.7 716.7 1

 2 Less: Consumption of fixed capital 170.3 178.6 189.4 200.7 212.8 226.3 234.5 245.3 256.5 262.3 2

 3 Equals: Net value added 327.8 347.2 363.3 376.9 392.6 411.3 434.3 459.1 463.2 454.5 3

 4 Compensation of employees (paid) 321.1 342.3 362.4 375.1 390.5 410.4 433.5 462.2 470.5 467.9 4

 5 Wages and salaries 234.8 249.9 263.5 271.7 283.3 296.7 312.2 328.5 331.7 328.0 5

 6 Employers’ social contributions 86.3 92.4 98.9 103.5 107.3 113.7 121.3 133.7 138.9 139.9 6

 7 Operating surplus, net 6.7 4.9 0.9 1.8 2.0 0.8 0.7 -3.1 -7.3 -13.4 7

 8 Net national income/Balance of primary incomes, net -221.2 -226.6 -277.4 -293.5 -325.6 -308.9 -269.9 -286.6 -323.2 -320.0 8

 9 Operating surplus, net 6.7 4.9 0.9 1.8 2.0 0.8 0.7 -3.1 -7.3 -13.4 9

10 Taxes on production and imports, receivable 90.2 95.2 99.4 99.2 94.6 94.0 91.4 96.8 108.6 118.0 10

11 Subsidies (paid) -49.0 -46.0 -60.5 -51.1 -47.5 -49.6 -56.9 -54.3 -59.4 -56.8 11

12 Property income (received) 23.5 25.3 27.2 29.0 33.4 33.9 48.5 54.6 57.4 52.9 12

13 Interest 16.5 16.6 17.3 18.8 22.1 19.5 22.8 29.5 28.5 22.2 13

14 Distributed income of corporations (dividends) 0.0 0.1 0.2 0.3 0.2 0.6 18.7 17.0 18.8 21.1 14

15 Rents on land and natural resources 7.0 8.7 9.7 9.9 11.1 13.8 7.0 8.0 10.1 9.6 15

16 Less: Uses of property income (interest paid) 292.6 306.1 344.4 372.3 408.2 388.0 353.6 380.6 422.6 420.6 16

17 Net national income/Balance of primary incomes, net -221.2 -226.6 -277.4 -293.5 -325.6 -308.9 -269.9 -286.6 -323.2 -320.0 17

18 Plus: Current taxes on income, wealth, etc. (received) 980.8 1058.8 1285.2 1459.2 1542.5 1354.1 1072.4 1208.2 1387.5 1518.0 18

19 Plus: Social benefits (received) 763.2 808.9 853.4 905.7 947.2 974.4 950.8 970.9 904.3 937.8 19

20 Less: Social contributions (paid) 973.1 1025.5 1090.9 1196.7 1272.2 1407.4 1624.9 1726.6 1745.3 1790.5 20

21 Plus: Other current transfers (received) 25.5 29.0 32.0 36.8 41.0 48.6 66.2 64.4 66.1 49.7 21

22 Less: Other current transfers (paid) 350.3 363.0 384.2 375.8 401.3 416.0 510.7 555.9 529.0 493.1 22

23 Equals: Disposable income, net 224.9 281.6 418.0 535.8 531.6 244.7 -316.1 -325.6 -239.6 -98.0 23

24 Less: Final consumption expenditures 628.5 681.4 723.4 763.9 798.4 879.8 933.7 1003.9 1008.7 1011.7 24

25 Equals: Net saving -403.5 -399.8 -305.4 -228.1 -266.7 -635.1 -1249.8 -1329.5 -1248.3 -1109.7 25

 Capital account

26 Net saving less capital transfers -444.6 -439.1 -365.8 -271.3 -319.7 -752.7 -1436.1 -1455.9 -1362.0 -1194.3 26

27 Net saving -403.5 -399.8 -305.4 -228.1 -266.7 -635.1 -1249.8 -1329.5 -1248.3 -1109.7 27

28 Less: Capital transfers paid (net) 41.1 39.3 60.3 43.2 53.0 117.6 186.3 126.3 113.8 84.7 28

29 Capital formation, net 25.1 31.6 31.5 22.9 35.3 29.1 40.6 53.7 38.0 20.4 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 196.4 211.0 222.9 238.0 251.4 275.8 284.0 300.0 295.4 284.0 30

31 Less: Consumption of fixed capital 170.3 178.6 189.4 200.7 212.8 226.3 234.5 245.3 256.5 262.3 31

32 Acquisition of nonproduced nonfinancial assets -0.9 -0.8 -2.0 -14.4 -3.3 -20.4 -8.9 -1.0 -0.9 -1.4 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -469.8 -470.7 -397.3 -294.2 -354.9 -781.8 -1476.7 -1509.5 -1400.1 -1214.8 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -469.8 -470.7 -397.3 -294.2 -354.9 -781.8 -1476.7 -1509.5 -1400.1 -1214.8 34

35 Net acquisition of financial assets 35.1 5.3 30.8 -14.4 0.6 580.0 237.8 281.1 -154.8 116.4 35

36 Monetary gold and SDRs -0.6 0.4 -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 36

37 Monetary gold 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 SDR holdings -0.6 0.4 -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 38

39 Currency and deposits -16.9 -34.6 -0.9 -5.5 25.7 316.0 -170.0 150.6 -240.0 11.0 39

40 Official foreign currencies 0.3 0.3 0.3 0.4 0.5 0.6 0.3 0.3 -0.2 0.2 40

41 Reserve position in IMF (net) -1.5 -3.8 -10.2 -3.3 -1.0 3.5 3.4 1.3 18.2 4.0 41

42 Currency and transferable deposits 9.3 -31.0 12.2 -2.7 25.1 313.1 -174.2 148.9 -257.6 6.7 42

43 Time and savings deposits -25.2 -0.0 -1.0 0.2 1.2 -1.3 0.3 0.1 -0.3 0.2 43

44 Nonofficial foreign currencies 0.2 -0.0 -2.2 -0.0 -0.1 0.0 0.2 0.1 -0.1 -0.1 44

45 Debt securities 0.0 0.0 0.0 0.0 0.0 54.4 142.5 -46.9 -118.2 -31.3 45

46 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 54.4 142.0 -47.2 -118.1 -31.1 46

47 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.3 -0.1 -0.2 47

48 Loans -2.6 2.3 -0.9 5.9 6.9 39.0 166.5 130.5 137.4 136.2 48

49 Short term -0.1 0.7 -3.3 2.2 4.8 25.5 154.0 136.7 133.3 134.6 49

50 Consumer credit 1.9 3.7 3.7 1.6 7.0 19.5 87.9 133.1 128.5 132.1 50

51 Other loans and advances -2.0 -3.0 -7.0 0.6 -2.2 6.0 66.0 3.5 4.8 2.5 51

52 Long term (mortgages) -2.5 1.6 2.4 3.7 2.1 13.5 12.6 -6.2 4.1 1.6 52

53 Equity and investment fund shares 1.4 2.0 1.3 2.0 1.7 257.7 3.4 30.4 43.5 -10.7 53

54 Corporate equities 0.0 0.0 0.0 0.0 0.0 256.3 0.6 24.1 40.3 -13.2 54

55 Equity in international organizations 1.4 2.0 1.3 2.0 1.7 1.4 1.7 2.3 2.6 2.4 55

56 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 1.2 4.0 0.7 0.0 57
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58 Other accounts receivable 53.8 35.1 35.8 -17.1 -33.8 -87.2 47.1 16.5 24.2 11.1 58

59 Trade receivables 19.1 10.5 9.2 -11.6 1.2 4.2 -21.1 -0.7 4.8 2.6 59

60 Taxes receivable 34.4 23.3 26.0 -6.5 -35.4 -62.0 35.9 27.1 20.8 11.9 60

61 Other (miscellaneous assets) 0.4 1.4 0.6 1.0 0.4 -29.4 32.3 -9.8 -1.3 -3.5 61

62 Net incurrence of liabilities 566.0 479.4 453.6 296.0 391.2 1369.0 1536.1 1697.8 1200.7 1249.4 62

63 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 63

64 Currency and deposits 0.6 0.7 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 0.0 64

65 Debt securities 420.7 402.8 346.9 219.1 270.4 1302.5 1508.8 1645.9 1138.7 1180.6 65

66 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 66

67 Treasury securities including savings bonds 398.4 362.5 307.3 183.7 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 67

68 Federal agency securities -2.4 -0.6 -0.4 -0.3 -0.4 0.2 0.1 0.7 1.1 -0.4 68

69 Nonmarketable securities held by pension plans 24.7 40.9 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 69

70 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 70

71 Insurance, pension and standardized guarantee schemes 75.6 59.5 67.2 64.5 92.7 45.1 33.3 43.5 39.1 61.9 71

72 Insurance reserves 1.1 1.1 1.1 1.5 1.2 1.0 1.1 0.9 1.3 0.3 72

73 Retiree Health Care Funds 19.6 17.4 23.0 18.1 43.9 26.5 16.6 22.5 18.5 13.3 73

74 Claims of pension fund on sponsor 54.9 41.0 43.1 44.9 47.7 17.6 15.6 20.2 19.2 48.2 74

75 Other accounts payable 69.1 16.4 38.7 11.8 28.7 22.2 -53.2 8.7 23.0 6.9 75

76 Trade payables 71.7 15.4 33.7 6.2 29.3 22.6 -56.2 6.3 9.4 15.2 76

77 Other (miscellaneous liabilities) -2.6 1.0 5.0 5.6 -0.6 -0.3 2.9 2.4 13.6 -8.3 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-62) -530.9 -474.1 -422.8 -310.4 -390.6 -789.0 -1298.3 -1416.7 -1355.5 -1133.0 78

 Other changes in volume account

79 Total other volume changes -94.4 -27.7 -46.3 31.3 10.8 87.8 122.4 -21.5 47.0 68.3 79

80 Disaster losses 0.0 0.0 -0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 Other volume changes -33.3 -24.2 -20.3 47.4 46.5 95.0 -55.9 -114.3 2.5 -13.4 81

82 Less: Statistical discrepancy (lines 33-82]) (2) 61.1 3.5 25.5 16.1 35.7 7.2 -178.4 -92.8 -44.6 -81.8 82

 Revaluation account

83 Nonfinancial assets 45.2 114.8 116.8 116.4 93.0 69.0 -36.0 61.3 63.3 41.2 83

84 Structures 25.3 91.6 94.1 95.2 60.7 44.0 -48.4 18.1 46.6 34.7 84

85 Equipment 4.0 10.9 7.3 10.4 7.6 11.8 8.6 5.0 11.0 5.5 85

86 Intellectual property products 16.0 12.2 15.4 10.8 24.8 13.2 3.8 38.2 5.7 0.9 86

87 Financial assets 3.1 1.3 -2.1 0.8 0.7 -67.9 -121.6 -43.7 -40.5 -9.0 87

88 Monetary gold and SDRs 1.1 0.5 -0.9 0.4 0.5 -0.2 0.2 -1.0 -0.1 0.1 88

89 Currency and deposits 2.1 0.8 -1.2 0.3 0.2 -0.0 0.3 -0.2 -7.8 -4.3 89

90 Corporate equities 0.0 0.0 0.0 0.0 0.0 -67.7 -121.9 -41.5 -32.4 -4.7 90

91 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 -1.0 -0.2 -0.1 91

92 Liabilities 0.6 0.3 -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 92

93 SDR allocations 0.6 0.3 -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 93

94 Changes in net worth due to nominal holding gains/losses 47.7 115.7 115.3 116.8 93.3 1.2 -157.9 18.5 23.0 32.1 94

 Changes in balance sheet account

95 Change in net worth (lines 29+33+79+94) -491.3 -351.1 -296.8 -123.3 -215.6 -663.6 -1471.6 -1458.8 -1292.0 -1093.9 95

 Balance sheet account (end of period)

96 Total assets 2790.1 2917.7 3070.2 3238.1 3415.2 4121.6 4229.2 4569.0 4463.3 4626.9 96

97 Nonfinancial assets (3) 2130.4 2277.1 2426.5 2579.8 2711.3 2829.2 2842.1 2957.5 3059.2 3121.6 97

98 Structures 999.1 1088.2 1176.5 1266.6 1325.4 1369.8 1326.1 1352.5 1404.1 1435.6 98

99 Equipment 474.9 498.3 520.7 550.7 576.7 616.2 649.8 680.9 709.6 730.5 99

100 Intellectual property products 656.3 690.6 729.3 762.4 809.3 843.2 866.2 924.1 945.5 955.5 100

101 Financial assets 659.7 640.6 643.7 658.3 703.9 1292.4 1387.1 1611.5 1404.0 1505.3 101

102 Monetary gold and SDRs 12.6 13.6 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 102

103 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 SDR holdings 12.6 13.6 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 104
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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

105 Currency and deposits 101.8 68.0 65.9 60.8 86.7 402.7 233.0 383.4 135.6 142.4 105

106 Official foreign currencies 19.9 21.4 18.9 20.5 22.5 24.8 25.2 26.0 25.8 24.9 106

107 Reserve position in IMF (net) 22.7 19.6 8.1 5.2 4.4 7.8 11.5 12.6 23.0 22.8 107

108 Currency and transferable deposits 54.1 21.9 36.8 32.9 56.5 368.0 193.6 342.1 84.3 92.0 108

109 Time and savings deposits 2.4 2.4 1.4 1.7 2.8 1.6 1.9 2.0 1.7 2.0 109

110 Nonofficial foreign currencies 2.8 2.8 0.6 0.6 0.5 0.5 0.7 0.8 0.7 0.7 110

111 Debt securities 0.0 0.0 0.0 0.0 0.0 54.4 197.0 150.1 31.9 0.6 111

112 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 54.4 196.4 149.2 31.1 0.0 112

113 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.9 0.8 0.6 113

114 Loans 272.4 274.7 273.8 296.9 303.8 342.8 509.3 643.4 780.8 917.0 114

115 Short term 199.8 200.5 197.2 216.6 221.4 247.0 400.9 537.6 670.9 805.5 115

116 Consumer credit 82.4 86.1 89.8 108.7 115.7 135.1 223.1 356.2 484.7 616.8 116

117 Other loans and advances 117.5 114.4 107.4 108.0 105.8 111.8 177.9 181.4 186.3 188.7 117

118 Long term (mortgages) 72.6 74.2 76.6 80.3 82.4 95.8 108.4 105.8 109.9 111.5 118

119 Equity and investment fund shares 40.0 42.0 43.2 45.3 46.9 237.0 118.2 106.1 117.0 101.5 119

120 Corporate equities 0.0 0.0 0.0 0.0 0.0 188.7 67.4 49.9 57.8 39.9 120

121 Equity in international organizations 40.0 42.0 43.2 45.3 46.9 48.3 50.0 52.3 54.9 57.3 121

122 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.9 3.8 4.4 4.4 123

124 Other accounts receivable 232.8 242.3 252.5 246.5 257.0 246.2 271.8 271.7 283.7 288.7 124

125 Trade receivables 51.3 61.8 71.0 59.4 60.6 64.7 43.6 42.9 47.7 50.3 125

126 Taxes receivable 93.7 91.2 91.6 96.1 105.0 119.4 133.9 144.3 152.8 158.6 126

127 Other (miscellaneous assets) 87.9 89.3 89.9 91.0 91.4 62.0 94.3 84.5 83.2 79.8 127

128 Total liabilities and net worth 2790.1 2917.7 3070.2 3238.1 3415.2 4121.6 4229.2 4569.0 4463.3 4626.9 128

129 Liabilities 6442.4 6921.2 7370.4 7661.6 8054.2 9424.3 11003.5 12802.1 13988.3 15245.9 129

130 SDR allocations 7.3 7.6 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 130

131 Currency and deposits 26.0 26.7 27.5 28.1 27.4 26.6 26.2 25.9 25.9 25.9 131

132 Debt securities 4850.2 5253.1 5587.0 5806.1 6076.5 7379.0 8887.8 10533.8 11672.5 12853.0 132

133 SDR certificates 2.2 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 133

134 Treasury securities including savings bonds 4008.2 4370.7 4678.0 4861.7 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 134

135 Federal agency securities 24.9 24.3 23.8 23.5 23.1 23.3 23.5 24.2 25.3 24.9 135

136 Nonmarketable securities held by pension plans 815.0 855.9 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 136

137 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 137

138 Insurance, pension and standardized guarantee schemes 1399.4 1459.1 1540.9 1606.0 1699.5 1746.1 1825.5 1973.5 2012.2 2074.4 138

139 Insurance reserves 40.5 41.6 42.7 44.2 45.4 46.4 47.5 48.4 49.7 50.0 139

140 Retiree Health Care Funds 35.0 52.4 75.4 93.5 137.3 163.8 180.4 202.9 221.4 234.8 140

141 Claims of pension fund on sponsor 1324.0 1365.2 1422.8 1468.3 1516.8 1535.8 1597.6 1722.2 1741.1 1789.6 141

142 Other accounts payable 159.5 174.6 208.1 214.0 243.1 265.1 208.6 214.5 223.5 238.3 142

143 Trade payables 153.6 169.0 202.7 208.9 238.2 260.8 204.6 210.9 220.3 235.5 143

144 Other (miscellaneous liabilities) 5.8 5.6 5.4 5.1 4.9 4.3 4.0 3.6 3.2 2.8 144

145 Net worth -3652.3 -4003.4 -4300.2 -4423.5 -4639.0 -5302.7 -6774.2 -8233.1 -9525.1 -10619.0 145

Note. The Federal government accounts exclude Federal employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.

IMF International Monetary Fund

SDRs Special Drawing Rights
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

 Current account

 1 Gross value added 1077.2 1137.7 1191.7 1250.3 1318.5 1385.2 1419.4 1454.2 1468.0 1491.9 1

 2 Less: Consumption of fixed capital 134.5 143.8 157.3 170.3 186.6 200.2 208.2 212.7 221.7 231.4 2

 3 Equals: Net value added 942.6 993.9 1034.4 1080.0 1131.9 1185.0 1211.3 1241.5 1246.3 1260.6 3

 4 Compensation of employees (paid) 945.4 1000.6 1041.8 1091.1 1150.4 1207.1 1232.6 1261.3 1262.8 1274.8 4

 5 Wages and salaries 678.5 702.7 728.0 763.3 805.6 847.4 862.9 862.6 862.8 869.3 5

 6 Employers’ social contributions 266.9 297.9 313.7 327.8 344.9 359.7 369.7 398.7 400.0 405.5 6

 7 Operating surplus, net -2.8 -6.7 -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -16.5 -14.3 7

 8 Net national income/Balance of primary incomes, net 673.5 728.0 804.2 868.3 910.7 901.6 811.0 829.5 858.5 857.7 8

 9 Operating surplus, net -2.8 -6.7 -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -16.5 -14.3 9

10 Taxes on production and imports, receivable 717.8 768.7 835.1 892.7 940.0 947.9 934.8 960.4 988.5 1004.9 10

11 Subsidies (paid) -0.1 -0.4 -0.4 -0.4 -7.1 -3.0 -1.4 -1.6 -0.5 -0.5 11

12 Property income (received) 73.8 76.8 88.6 107.2 117.9 105.7 87.8 82.6 80.0 78.5 12

13 Interest 64.5 66.4 76.8 94.7 104.2 91.0 74.4 69.1 66.3 64.2 13

14 Distributed income of corporations (dividends) 1.7 2.0 2.0 2.1 2.2 2.6 2.1 2.3 2.3 2.4 14

15 Rents on land and natural resources 7.6 8.5 9.8 10.4 11.5 12.1 11.2 11.2 11.4 11.9 15

16 Less: Uses of property income (interest paid) 115.2 110.5 111.8 120.1 121.5 127.0 188.8 192.1 192.9 211.0 16

17 Net national income/Balance of primary incomes, net 673.5 728.0 804.2 868.3 910.7 901.6 811.0 829.5 858.5 857.7 17

18 Plus: Current taxes on income, wealth, etc. (received) 260.8 289.2 331.4 361.7 381.4 381.0 333.4 345.3 377.7 400.2 18

19 Plus: Social benefits (received) 19.9 24.7 24.6 21.5 18.9 18.7 18.6 18.1 18.3 17.5 19

20 Less: Social contributions (paid) 353.6 385.0 406.6 403.9 433.3 455.4 492.6 523.8 532.0 544.3 20

21 Plus: Other current transfers (received) 405.0 422.4 436.4 438.9 460.9 477.8 566.1 612.0 581.8 552.6 21

22 Equals: Disposable income, net 1005.7 1079.2 1190.0 1286.5 1338.6 1323.7 1236.4 1281.0 1304.3 1283.7 22

23 Less: Final consumption expenditures 1127.1 1187.6 1256.6 1325.9 1411.4 1488.7 1508.4 1518.3 1517.4 1536.4 23

24 Equals: Net saving -121.4 -108.4 -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -213.1 -252.7 24

 Capital account

25 Net saving less capital transfers -69.5 -60.4 -16.2 18.4 -13.4 -101.8 -204.2 -160.6 -139.2 -178.6 25

26 Net saving -121.4 -108.4 -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -213.1 -252.7 26

27 Less: Capital transfers paid (net) -52.0 -48.0 -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.9 -74.1 27

28 Capital formation, net 145.8 145.0 143.5 155.0 167.9 172.5 167.2 149.7 125.7 113.8 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 268.9 277.5 290.8 314.3 340.8 358.8 363.0 351.9 337.2 334.9 29

30 Less: Consumption of fixed capital 134.5 143.8 157.3 170.3 186.6 200.2 208.2 212.7 221.7 231.4 30

31 Acquisition of nonproduced nonfinancial assets 11.4 11.3 10.0 11.0 13.6 13.8 12.3 10.6 10.1 10.2 31

32 Net lending (+) or borrowing (-), capital account (lines 25-28) -215.2 -205.4 -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -264.8 -292.4 32

 Financial account

33 Net lending (+) or borrowing (-) (line 32) -215.2 -205.4 -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -264.8 -292.4 33

34 Net acquisition of financial assets 46.2 171.2 254.1 205.0 238.6 -102.9 14.4 70.1 -16.8 69.0 34

35 Currency and deposits 27.3 4.2 19.0 22.3 32.8 27.0 28.9 -0.7 32.0 10.2 35

36 Currency and transferable deposits 7.0 -3.5 15.8 5.4 -0.2 8.5 19.2 5.7 16.8 -9.0 36

37 Time and savings deposits 20.3 7.7 3.2 16.8 33.0 18.5 9.7 -6.3 15.2 19.2 37

38 Debt securities 22.8 95.7 155.6 109.9 135.6 -92.2 -42.5 51.1 -52.2 25.6 38

39 Open market paper -0.7 2.7 -0.1 -1.4 -2.3 -22.0 -39.1 13.0 -11.2 -7.2 39

40 Treasury securities 7.1 43.1 107.3 58.3 77.4 -46.5 -17.4 6.8 -32.7 39.2 40

41 Agency- and GSE-backed securities (1) 12.0 36.8 35.7 39.0 44.5 -18.4 9.7 22.5 -7.8 -10.0 41

42 Municipal securities 0.4 1.1 1.2 1.4 1.6 0.4 1.0 1.4 0.3 0.3 42

43 Corporate and foreign bonds 3.9 11.9 11.5 12.6 14.4 -5.7 3.3 7.4 -0.8 3.3 43

44 Loans 6.6 22.0 20.3 21.8 25.0 -16.3 4.1 11.7 -1.8 10.8 44

45 Short term 1.7 7.1 5.7 5.7 6.2 -12.1 -4.3 -1.4 -3.6 4.7 45

46 Long term (mortgages) 5.0 14.9 14.6 16.1 18.8 -4.3 8.4 13.0 1.8 6.0 46

47 Equity and investment fund shares -4.7 21.5 21.5 23.8 27.3 -5.9 9.1 16.3 1.0 8.1 47

48 Money market fund shares 4.8 12.8 13.6 15.4 17.9 2.6 9.8 13.7 3.4 5.4 48

49 Corporate equities -7.9 5.3 4.4 4.5 5.0 -7.9 -2.3 -0.2 -2.6 1.8 49

50 Mutual fund shares -1.6 3.4 3.5 3.9 4.4 -0.7 1.7 2.8 0.2 0.9 50

51 Other accounts receivable -5.8 27.8 37.7 27.3 17.9 -15.4 14.8 -8.3 4.2 14.3 51

52 Trade receivables -1.9 8.5 17.4 8.9 7.8 -15.4 -4.6 13.1 2.3 5.7 52

53 Taxes receivable 0.8 12.9 14.3 12.1 3.0 5.2 -5.8 1.1 2.2 2.1 53

54 Other (miscellaneous assets) -4.7 6.4 6.0 6.4 7.2 -5.3 25.2 -22.4 -0.3 6.5 54
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2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

55 Net incurrence of liabilities 268.1 329.0 230.7 209.4 298.7 219.6 455.7 383.5 296.5 328.9 55

56 Debt securities (municipals) 120.5 178.5 141.1 100.3 146.0 17.1 112.2 68.7 -53.6 -5.7 56

57 Short term 10.4 22.2 -1.7 -8.2 16.8 4.6 7.8 -0.7 -10.6 3.8 57

58 Other 110.1 156.3 142.8 108.5 129.2 12.5 104.4 69.3 -42.9 -9.4 58

59 Loans (short term) 0.1 0.3 0.6 0.6 0.7 0.8 0.8 0.9 0.9 0.4 59

60 Insurance, pension and standardized guarantee schemes 118.8 120.2 57.1 74.2 115.3 163.0 303.7 275.4 310.7 295.0 60

 (Claim of pension funds on sponsor)

61 Other accounts payable (trade payables) 28.8 30.0 31.9 34.3 36.7 38.6 38.9 38.5 38.4 39.1 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 34-55) -221.9 -157.8 23.4 -4.3 -60.1 -322.5 -441.2 -313.3 -313.3 -259.9 62

 Other changes in volume account

63 Total other volume changes 338.6 -698.5 215.9 323.4 229.7 -976.4 357.2 34.3 -44.4 321.6 63

64 Disaster losses 0.0 0.0 -10.7 0.0 0.0 0.0 0.0 0.0 0.0 -7.6 64

65 Other volume changes 345.2 -746.1 43.5 191.1 108.5 -928.2 427.1 37.4 4.0 296.8 65

66 Less: Statistical discrepancy (lines 32-62) (2) 6.6 -47.6 -183.1 -132.3 -121.2 48.2 69.9 3.1 48.4 -32.4 66

 Revaluation account

67 Nonfinancial assets 91.5 504.5 473.4 605.0 460.9 411.4 -105.2 175.7 392.5 225.4 67

68 Structures 91.5 501.0 472.2 602.7 457.9 403.0 -104.3 171.9 386.1 225.3 68

69 Equipment -0.6 2.6 0.4 1.1 0.6 6.6 -1.1 2.4 4.6 -1.3 69

70 Intellectual property products 0.6 0.9 0.8 1.1 2.4 1.8 0.3 1.4 1.9 1.3 70

71 Equity and investment fund shares 29.0 11.8 5.4 16.9 5.1 -61.0 33.4 21.6 1.9 18.5 71

72 Changes in net worth due to nominal holding gains/losses 120.5 516.3 478.9 621.8 466.0 350.4 -71.8 197.3 394.4 243.9 72

 Changes in balance sheet account

73 Change in net worth (lines 28+32+63+72) 389.7 -242.6 678.5 963.6 682.3 -727.7 81.3 71.1 210.9 386.9 73

 Balance sheet account (end of period)

74 Total assets 6899.9 7721.2 8576.9 9547.8 10406.3 10811.1 10905.0 11307.9 11798.3 12223.4 74

75 Nonfinancial assets (3) 5024.4 5662.8 6259.0 7008.0 7623.1 8193.3 8243.0 8557.5 9065.2 9386.3 75

76 Structures 4760.4 5388.1 5976.8 6715.1 7314.8 7863.3 7903.6 8207.7 8703.7 9020.8 76

77 Equipment 196.6 203.3 206.9 212.7 221.5 236.4 240.9 245.4 250.8 249.8 77

78 Intellectual property products 67.5 71.4 75.3 80.2 86.9 93.6 98.5 104.4 110.7 115.7 78

79 Financial assets 1875.5 2058.4 2317.9 2539.8 2783.2 2617.8 2662.0 2750.3 2733.1 2837.1 79

80 Currency and deposits 212.8 217.0 236.1 258.3 291.1 318.1 347.0 346.3 378.3 407.7 80

81 Currency and transferable deposits 53.8 50.4 66.2 71.6 71.4 79.8 99.0 104.7 121.5 117.8 81

82 Time and savings deposits 159.0 166.7 169.9 186.7 219.8 238.3 248.0 241.6 256.8 289.8 82

83 Debt securities 965.8 1061.5 1217.1 1327.0 1462.6 1370.4 1327.9 1379.0 1326.8 1352.4 83

84 Open market paper 150.6 153.4 153.2 151.8 149.5 127.5 88.4 101.4 90.2 83.0 84

85 Treasury securities 361.8 404.9 512.2 570.5 647.9 601.4 584.0 590.8 558.1 597.3 85

86 Agency- and GSE-backed securities (1) 340.8 377.6 413.3 452.3 496.7 478.3 488.0 510.5 502.6 492.6 86

87 Municipal securities 4.5 5.7 6.9 8.3 10.0 10.4 11.4 12.8 13.1 13.4 87

88 Corporate and foreign bonds 108.1 119.9 131.4 144.0 158.4 152.8 156.1 163.5 162.7 166.0 88

89 Loans 246.6 268.5 288.8 310.6 335.2 317.0 317.7 326.3 322.2 331.0 89

90 Short term 117.2 124.3 130.0 135.7 141.9 129.8 125.5 124.1 120.5 125.2 90

91 Long term (mortgages) 129.3 144.2 158.9 174.9 193.3 187.3 192.2 202.2 201.7 205.8 91

92 Equity and investment fund shares 186.5 219.7 246.6 287.2 319.7 252.7 295.2 333.1 336.0 362.6 92

93 Money market fund shares 63.5 76.3 89.9 105.2 123.1 125.7 135.5 149.2 152.6 158.0 93

94 Corporate equities 93.5 107.6 116.1 132.9 141.6 90.8 111.4 125.7 124.4 138.4 94

95 Mutual fund shares 29.5 35.8 40.7 49.1 55.0 36.2 48.3 58.1 58.9 66.1 95

96 Other accounts receivable 263.8 291.6 329.3 356.7 374.6 359.6 374.3 365.6 369.8 383.4 96

97 Trade receivables 116.6 125.0 142.5 151.3 159.1 143.7 139.1 152.2 154.5 160.3 97

98 Taxes receivable 75.1 88.0 102.3 114.4 117.4 123.0 117.1 117.8 120.0 121.3 98

99 Other (miscellaneous assets) 72.2 78.6 84.5 90.9 98.2 92.9 118.1 95.6 95.4 101.8 99

100 Total liabilities and net worth 6899.9 7721.2 8576.9 9547.8 10406.3 10811.1 10905.0 11307.9 11798.3 12223.4 100

101 Liabilities 2144.9 3208.7 3385.9 3393.2 3569.4 4702.0 4714.6 5046.4 5325.9 5364.1 101
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Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

102 Debt securities (municipals) 1558.8 2438.2 2579.2 2679.6 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 102

103 Short term 106.1 44.2 42.5 34.3 51.2 55.8 63.6 63.0 52.3 56.1 103

104 Other 1452.7 2393.9 2536.7 2645.2 2774.4 2786.9 2891.3 2960.6 2917.6 2908.2 104

105 Loans (short term) 9.7 10.0 10.6 11.2 11.9 12.7 13.5 14.4 15.3 15.7 105

106 Insurance, pension and standardized guarantee schemes 156.3 310.5 314.0 186.2 178.9 1255.0 1115.7 1339.4 1633.2 1637.5 106

 (Claim of pension funds on sponsor)

107 Other accounts payable (trade payables) 420.1 450.1 482.0 516.2 553.0 591.6 630.5 669.0 707.4 746.5 107

108 Net worth 4755.0 4512.4 5191.0 6154.6 6836.9 6109.1 6190.4 6261.5 6472.4 6859.3 108

Note. The state and local government accounts exclude state and local employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.
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S.9.a Rest of the World 

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

 

 Current account

 1 Foreign income from U.S. 1913.0 2256.2 2623.3 2998.4 3250.3 3378.4 2608.7 3018.1 3360.9 3453.5 1

 2 U.S. imports of goods and services 1544.3 1797.9 2026.1 2240.9 2375.5 2556.4 1976.0 2362.0 2669.9 2743.1 2

 3 U.S. income payments to rest of world 288.1 361.4 482.3 655.7 749.1 683.8 496.5 514.1 542.1 565.7 3

 4 Current taxes and trans. payments to rest of world 80.7 96.9 114.9 101.7 125.7 138.3 136.1 142.0 149.0 144.6 4

 5 Less: Foreign outlays to U.S. 1399.5 1634.6 1886.1 2202.7 2541.3 2699.9 2227.5 2563.5 2904.0 3014.5 5

 6 U.S. exports of goods and services 1043.4 1183.1 1310.4 1478.5 1665.7 1843.1 1583.8 1843.5 2101.1 2195.9 6

 7 U.S. income receipts from rest of world 356.1 451.4 575.8 724.2 875.5 856.8 643.7 720.0 802.8 818.6 7

 8 Equals: Net saving (current external balance) 513.5 621.7 737.1 795.7 709.1 678.5 381.2 454.5 457.0 439.0 8

 Capital account

 9 Net saving 513.5 621.7 737.1 795.7 709.1 678.5 381.2 454.5 457.0 439.0 9

10 Less: Net capital transfers -2.2 2.8 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 6.6 10

11 Less: Acquisition of nonproduced nonfinancial assets 0.1 0.0 0.1 -0.1 0.5 -0.0 0.0 -0.0 -0.1 0.0 11

12 Net lending (+) or borrowing (-), capital account (lines 9-10-11) 515.7 618.9 724.3 797.8 709.0 673.1 381.7 455.2 458.6 432.4 12

 Financial account

13 Net lending (+) or borrowing (-) (line 12) 515.7 618.9 724.3 797.8 709.0 673.1 381.7 455.2 458.6 432.4 13

14 Net acquisition of U.S. financial assets 800.2 1396.8 1112.4 1874.0 1802.4 569.9 236.5 1196.8 1108.4 696.8 14

15 Monetary gold and SDRs 0.0 0.0 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 15

16 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 17

18 Currency and deposits 31.9 28.9 24.6 50.7 -74.2 497.9 -284.3 -23.3 343.0 -30.6 18

19 Currency 10.6 13.3 8.4 2.2 -10.7 29.2 12.6 28.3 55.0 57.1 19

20 Transferable deposits 4.0 9.1 6.4 9.2 5.2 34.8 -21.8 1.2 26.8 11.1 20

21 Time deposits 6.0 35.1 20.3 34.0 40.7 78.5 -73.2 9.0 47.2 37.1 21

22 Net interbank items due from U.S. banks 11.3 -28.6 -10.6 5.3 -109.5 355.4 -201.9 -61.8 213.9 -136.0 22

23 Debt securities 583.6 848.1 720.7 967.4 841.1 421.9 167.5 643.9 205.7 501.9 23

24 Open market paper 66.2 37.0 9.9 46.7 -8.3 -45.1 -41.4 -0.5 0.7 3.4 24

25 Treasury securities 276.4 366.9 245.1 150.3 165.3 711.6 554.4 740.4 357.9 589.5 25

26 Agency- and GSE-backed securities (1) 12.3 178.2 134.3 224.0 248.8 -228.6 -226.0 -72.3 -41.6 -71.8 26

27 Municipal securities 8.0 6.5 3.0 5.4 10.7 5.9 7.7 13.1 -1.4 -2.4 27

28 Corporate bonds 220.8 259.5 328.5 541.0 424.6 -21.8 -127.3 -36.8 -109.9 -16.9 28

29 Loans (short term) 119.2 211.2 79.5 60.9 182.5 -625.0 -86.7 54.0 157.1 -49.7 29

30 Security repurchases 120.1 204.9 48.2 54.6 80.2 -580.4 -42.7 74.2 123.3 2.6 30

31 Loans to U.S. corporate business -0.8 6.3 31.3 6.2 102.3 -44.7 -44.0 -20.2 33.9 -52.2 31

32 Equity and investment fund shares 97.7 207.8 201.9 388.6 496.8 436.9 369.7 384.8 363.9 398.5 32

33 Money market fund shares 2.6 4.1 0.1 4.1 19.0 23.7 7.2 -7.1 24.9 20.2 33

34 Corporate equities 5.2 25.0 56.9 96.2 217.6 105.8 154.9 74.6 -38.7 29.9 34

35 Mutual fund shares 26.2 32.7 32.3 45.2 39.1 -2.7 57.2 111.5 147.5 182.0 35

36 Foreign direct investment in the United States 63.8 146.0 112.6 243.2 221.2 310.1 150.4 205.9 230.2 166.4 36

37 Other accounts receivable -32.3 100.9 85.8 406.4 356.3 -161.7 22.7 137.4 38.7 -123.3 37

38 Trade receivables 1.3 -1.1 7.9 5.9 20.8 6.5 6.6 19.8 17.7 11.5 38

39 Other (miscellaneous assets) -33.5 101.9 77.9 400.5 335.4 -168.2 16.1 117.7 21.0 -134.8 39

40 Net incurrence of liabilities 269.1 861.4 398.6 1066.6 1184.7 -166.7 5.7 758.9 557.9 250.5 40

41 SDR holdings -0.6 0.4 -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 41

42 Currency and deposits 35.2 86.6 29.0 84.6 255.8 -389.5 -106.5 -7.4 -28.8 -25.8 42

43 Official foreign currencies 0.6 0.6 0.6 0.7 1.0 1.3 0.7 0.5 -0.5 0.4 43

44 Reserve position in IMF (net) -1.5 -3.8 -10.2 -3.3 -1.0 3.5 3.4 1.3 18.1 4.0 44

45 U.S. private deposits 36.0 89.9 40.8 87.2 256.0 -394.3 -110.7 -9.3 -46.3 -30.2 45

46 Nonofficial foreign currencies 0.2 -0.0 -2.2 -0.0 -0.1 0.0 0.2 0.1 -0.1 -0.1 46

47 Debt securities 47.6 155.0 103.1 326.2 149.4 -229.8 222.7 57.2 84.2 90.1 47

48 Commercial paper 18.9 69.2 38.6 98.4 -69.3 -71.0 59.4 -2.7 -53.5 27.9 48

49 Bonds 28.7 85.8 64.5 227.8 218.7 -158.8 163.3 59.9 137.7 62.2 49

50 Loans (short term) 180.5 132.0 15.4 61.8 165.6 177.0 -502.4 214.3 215.9 -15.2 50

51 Security repurchases 183.2 134.7 2.7 52.3 115.3 -366.3 55.7 200.3 71.6 39.7 51

52 Other loans and advances -2.1 -3.6 -4.6 -7.4 -3.2 -1.5 0.3 0.2 1.4 5.7 52

53 Depository institution loans n.e.c. -0.5 1.0 17.3 16.9 29.4 15.1 -14.8 24.0 43.2 30.4 53

54 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 24.0 529.7 -543.5 -10.2 99.7 -90.9 54
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55 Equity and investment fund shares 313.1 377.4 243.8 425.6 605.7 282.8 399.3 393.1 448.2 421.8 55

56 Corporate equities 118.0 84.8 186.7 137.3 147.8 -38.5 63.7 79.1 6.0 82.6 56

57 U.S. government equity in IBRD, etc. 1.4 2.0 1.3 2.0 1.7 1.4 1.7 2.3 2.6 2.4 57

58 U.S. direct investment abroad 149.6 316.2 36.2 244.9 414.0 329.1 310.4 301.1 409.0 388.3 58

59 Investment by holding companies 44.1 -25.6 19.6 41.3 42.2 -9.1 23.5 10.6 30.6 -51.5 59

60 Other accounts payable -306.7 109.9 11.8 168.3 8.1 -7.3 -55.6 101.6 -159.9 -220.5 60

61 Trade payables 6.1 3.5 6.3 6.2 12.4 -9.9 6.1 25.8 -32.2 6.3 61

62 Other (miscellaneous liabilities) -312.8 106.4 5.5 162.1 -4.3 2.6 -61.7 75.8 -127.8 -226.8 62

 Addendum:

63 Net lending, financial account (lines 14-40) 531.1 535.4 713.8 807.4 617.6 736.6 230.9 437.9 550.5 446.3 63

 Other changes in volume account

64 Total other volume changes 15.4 -83.5 -10.4 9.6 -91.3 63.4 -150.8 -17.3 91.9 13.9 64

65 Other volume changes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 65

66 Less: Statistical discrepancy (lines 12-63) (2) -15.4 83.5 10.4 -9.6 91.3 -63.4 150.8 17.3 -91.9 -13.9 66

 Revaluation account

67 Financial assets 180.5 328.9 -80.0 614.2 202.9 -1382.4 398.4 458.2 503.7 659.5 67

68 SDR allocations 0.6 0.3 -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 68

69 Debt securities -49.7 -55.8 -195.4 34.8 129.1 -125.7 76.2 144.7 298.3 127.0 69

70 Treasury securities -48.4 -66.9 -74.3 -8.5 85.0 164.9 -136.8 47.9 190.2 -22.6 70

71 Agency- and GSE-backed securities 12.5 41.7 3.4 26.7 70.0 53.2 -26.0 1.4 38.1 7.6 71

72 Corporate bonds -13.8 -30.7 -124.4 16.6 -26.0 -343.8 239.1 95.5 70.0 142.1 72

73 Equity and investment fund shares 487.0 237.7 142.1 347.3 134.8 -1484.6 416.3 468.7 196.5 483.5 73

74 Corporate equities 447.8 205.0 77.5 312.8 145.6 -1110.0 514.7 410.9 186.8 402.5 74

75 Mutual fund shares 21.9 17.0 14.0 29.6 18.5 -116.0 51.2 38.2 -15.9 69.6 75

76 Foreign direct investment in the United States 17.3 15.8 50.6 4.9 -29.3 -258.6 -149.6 19.6 25.7 11.4 76

77 Other accounts receivable (miscellaneous assets) -257.5 146.7 -26.2 231.7 -61.3 228.1 -94.4 -154.3 9.0 48.9 77

78 Liabilities 644.3 699.9 876.6 1129.1 1151.9 -2207.5 1590.6 853.7 -441.9 963.3 78

79 SDR holdings 1.1 0.5 -0.9 0.4 0.5 -0.2 0.2 -1.0 -0.1 0.1 79

80 Currency and deposits 7.4 3.1 -6.7 2.7 4.1 2.5 0.6 0.9 -7.5 -6.6 80

81 Official foreign currencies 5.3 2.4 -5.5 2.4 3.9 2.5 0.3 1.0 0.3 -2.3 81

82 Reserve position in IMF (net) 2.1 0.8 -1.2 0.3 0.2 -0.0 0.3 -0.2 -7.8 -4.3 82

83 U.S. private deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 83

84 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84

85 Debt securities (corporate bonds) 137.5 30.2 -37.9 36.2 92.8 -191.0 169.7 101.0 70.9 138.5 85

86 Equity and investment fund shares 625.3 524.0 687.6 925.5 962.1 -2594.7 1201.6 720.9 -424.3 832.8 86

87 Corporate equities 587.4 396.2 570.6 873.9 771.2 -2461.0 1183.2 825.8 -404.8 806.5 87

88 U.S. direct investment abroad 37.9 127.8 117.0 51.5 190.9 -133.7 18.5 -104.9 -19.4 26.3 88

89 Other accounts payable (miscellaneous liabilities) -126.9 142.0 234.6 164.4 92.4 575.9 218.3 31.9 -80.9 -1.5 89

90 Changes in net worth due to nominal holding gains/losses -463.9 -371.0 -956.6 -514.9 -949.0 825.2 -1192.2 -395.5 945.6 -303.8 90

 Changes in balance sheet account

91 Change in net worth (lines 12+64+90) 67.2 164.4 -242.8 292.5 -331.3 1561.8 -961.3 42.4 1496.1 142.5 91

 Financial balance sheet account (end of period) (3)

92 Total financial assets 8946.9 10672.6 11705.0 14193.3 16198.6 15386.1 16021.0 17676.0 19288.1 20644.3 92

93 SDR allocations 7.3 7.6 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 93

94 Currency and deposits 496.8 525.7 550.3 601.0 526.8 1024.7 740.4 717.1 1060.1 1029.4 94

95 Currency 258.7 272.0 280.4 282.6 272.0 301.1 313.8 342.1 397.1 454.2 95

96 Transferable deposits 4.2 13.3 19.7 28.9 34.2 69.0 47.2 48.4 75.2 86.3 96

97 Time deposits 158.1 193.2 213.5 247.5 288.2 366.7 293.5 302.5 349.7 386.8 97

98 Net interbank items due from U.S. banks 75.9 47.3 36.7 42.0 -67.5 287.9 86.0 24.2 238.1 102.1 98
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99 Debt securities 3711.1 4503.4 5028.8 6030.9 7001.1 7297.3 7541.0 8329.6 8833.5 9462.4 99

100 Open market paper 192.8 229.8 239.6 286.3 278.1 232.9 191.5 191.0 191.7 195.2 100

101 Treasury securities 1513.5 1813.6 1984.4 2126.2 2376.4 3253.0 3670.6 4458.8 5006.9 5573.8 101

102 Agency- and GSE-backed securities (1) 655.3 875.2 1012.9 1263.6 1582.4 1406.9 1154.9 1084.0 1080.6 1016.4 102

103 Municipal securities 19.5 26.0 29.0 34.4 45.1 51.0 58.7 71.7 70.3 67.9 103

104 Corporate bonds 1330.0 1558.9 1762.9 2320.5 2719.1 2353.5 2465.3 2524.0 2484.0 2609.2 104

105 Loans (short term) 585.2 796.4 875.9 1197.8 1380.2 849.7 744.0 798.0 959.3 909.6 105

106 Security repurchases 460.2 665.1 713.3 1029.0 1109.1 623.3 561.5 635.8 763.1 765.7 106

107 Loans to U.S. corporate business 125.0 131.2 162.5 168.8 271.1 226.4 182.5 162.3 196.1 143.9 107

108 Equity and investment fund shares 3420.5 3866.0 4210.0 4946.0 5577.6 4529.8 5315.9 6169.4 6729.9 7611.8 108

109 Money market fund shares 18.8 22.9 23.0 27.0 46.0 69.7 76.9 69.8 79.5 99.7 109

110 Corporate equities 1674.6 1904.6 2039.1 2448.1 2811.3 1807.1 2476.7 2962.2 3035.3 3467.6 110

111 Mutual fund shares 146.1 195.8 242.0 316.8 374.3 255.6 364.1 513.8 735.6 987.1 111

112 Foreign direct investment in the United States 1581.0 1742.7 1906.0 2154.1 2345.9 2397.4 2398.2 2623.6 2879.5 3057.3 112

113 Other accounts receivable 725.9 973.5 1033.1 1410.2 1705.2 1677.1 1624.4 1607.5 1651.1 1576.8 113

114 Trade receivables 50.1 49.0 56.9 62.8 83.6 90.1 96.7 116.4 134.2 145.6 114

115 Other (miscellaneous assets) 675.9 924.5 976.2 1347.5 1621.6 1587.0 1527.7 1491.1 1517.0 1431.1 115

116 Total liabilities and net worth 8946.9 10672.6 11705.0 14193.3 16198.6 15386.1 16021.0 17676.0 19288.1 20644.3 116

117 Total liabilities 6744.4 8305.8 9581.0 11776.8 14113.4 11739.2 13335.4 14948.0 15064.0 16277.8 117

118 SDR holdings 12.6 13.6 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 118

119 Currency and deposits 932.1 1021.9 1044.2 1131.5 1391.4 1004.4 898.5 891.9 855.6 823.2 119

120 Official foreign currencies 39.7 42.7 37.8 40.9 45.8 49.6 50.5 52.1 51.9 49.9 120

121 Reserve position in IMF (net) 22.5 19.5 8.0 5.0 4.2 7.7 11.4 12.5 22.8 22.6 121

122 U.S. private deposits 867.1 957.0 997.8 1085.0 1340.9 946.7 835.9 826.6 780.3 750.1 122

123 Nonofficial foreign currencies 2.8 2.8 0.6 0.6 0.5 0.5 0.7 0.8 0.7 0.7 123

124 Debt securities 1145.1 1330.3 1395.5 1757.8 2000.1 1579.3 1971.7 2129.9 2285.0 2513.7 124

125 Commercial paper 276.1 345.3 384.0 482.3 413.0 342.0 401.3 398.6 345.1 373.0 125

126 Bonds 868.9 985.0 1011.6 1275.5 1587.1 1237.3 1570.3 1731.3 1939.9 2140.7 126

127 Loans (short term) 479.1 611.1 626.5 818.3 955.4 1236.1 700.2 916.0 1136.6 1127.1 127

128 Security repurchases 344.8 479.4 482.1 664.4 770.7 508.4 530.5 731.8 808.0 847.7 128

129 Other loans and advances 42.2 38.6 34.0 26.6 23.4 21.6 21.9 22.1 23.5 32.8 129

130 Depository institution loans n.e.c. 92.2 93.1 110.4 127.4 137.3 152.4 137.5 162.0 205.2 237.7 130

131 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 24.0 553.7 10.3 0.1 99.8 8.9 131

132 Equity and investment fund shares 4207.0 5108.4 6039.8 7390.8 8958.6 6646.8 8247.7 9361.7 9385.7 10640.3 132

133 Corporate equities 2079.4 2560.4 3317.7 4329.0 5248.0 2748.4 3995.3 4900.2 4501.4 5390.5 133

134 U.S. government equity in IBRD, etc. 40.0 42.0 43.2 45.3 46.9 48.3 50.0 52.3 54.9 57.3 134

135 U.S. direct investment abroad 2054.5 2498.5 2651.7 2948.2 3553.1 3748.5 4077.4 4273.6 4663.1 5077.8 135

136 Investment by holding companies 33.1 7.5 27.1 68.4 110.6 101.5 125.1 135.6 166.3 114.7 136

137 Other accounts payable -31.5 220.4 466.8 669.4 798.4 1263.3 1459.5 1591.6 1346.2 1118.5 137

138 Trade payables 44.7 48.2 54.5 60.7 73.1 63.2 69.3 95.1 63.0 69.3 138

139 Other (miscellaneous liabilities) -76.2 172.2 412.3 608.8 725.3 1200.1 1390.2 1496.5 1283.2 1049.2 139

140 Net worth (external account) 2202.5 2366.8 2124.0 2416.5 2085.2 3646.9 2685.6 2728.0 4224.0 4366.5 140

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes nonfinancial assets, including nonproduced nonfinancial assets.

IBRD International Bank for Reconstruction and Development

IMF International Monetary Fund

SDRs Special Drawing Rights

n.e.c. Not elsewhere classified