December 6, 2012

Flow of Funds Accounts 

of the United States 

Annual Flows and Outstandings

1985-1994

Board of Governors of the Federal Reserve System, Washington D.C. 20551 
Table of Contents

Flows Levels

Title Table Page Table Page

Summaries

Total Credit Market Borrowing and Lending F.1 1 L.1 55 

Credit Market Borrowing by Nonfinancial Sectors F.2 2 L.2 56 

Credit Market Borrowing by Financial Sectors F.3 2 L.3 56 

Credit Market Borrowing, All Sectors, by Instrument F.4 3 L.4 57 

Total Liabilities and Its Relation to Total Financial Assets F.5 3 L.5 57 

Distribution of Gross Domestic Product F.6 4 

Distribution of National Income F.7 5 

Saving and Investment F.8 6 

Net Capital Transfers F.9 7 

Derivation of Measures of Personal Saving F.10 8 L.10 58 

Sectors

Households and Nonprofit Organizations F.100 9 L.100 59 

Nonfinancial Business F.101 10 L.101 60 

 Nonfinancial Corporate Business F.102 11 L.102 61 

Nonfinancial Noncorporate Business F.103 12 L.103 62 

State and Local Governments F.104 13 L.104 63 

Federal Government F.105 14 L.105 64 

Rest of the World F.106 15 L.106 65 
Flows Levels

Title Table Page Table Page

Financial Business F.107 16 L.107 66 

Monetary Authority F.108 17 L.108 67 

Private Depository Institutions F.109 18 L.109 68 

 U.S.-Chartered Depository Institutions, ex. Credit Unions F.110 19 L.110 69 

 Foreign Banking Offices in U.S. F.111 20 L.111 70 

 Banks in U.S.-Affiliated Areas F.112 21 L.112 71 

 Credit Unions F.113 21 L.113 71 

Property-Casualty Insurance Companies F.114 22 L.114 72 

Life Insurance Companies F.115 22 L.115 72 

Private Pension Funds F.116 23 L.116 73 

State and Local Government Employee Retirement Funds F.117 24 L.117 74 

Federal Government Retirement Funds F.118 24 L.118 74 

Money Market Mutual Funds F.119 25 L.119 75 

Mutual Funds F.120 25 L.120 75 

Closed-End and Exchange-Traded Funds F.121 25 L.121 75 

Government-Sponsored Enterprises F.122 26 L.122 76

Agency- and GSE-Backed Mortgage Pools F.123 26 L.123 76 

Issuers of Asset-Backed Securities F.124 27 L.124 77 

Finance Companies F.125 27 L.125 77 

Real Estate Investment Trusts F.126 28 L.126 78 

Security Brokers and Dealers F.129 29 L.129 79 

Holding Companies F.112 30 L.112 80 

Funding Corporations F.130 31 L.130 81 
Flows Levels

Title Table Page Table Page 

Instruments 

U.S. Official Reserve Assets and SDR Allocations F.200 32 L.200 82 

Special Drawing Rights (SDRs) Certificates and Treasury Currency F.201 32 L.201 82 

U.S. Deposits in Foreign Countries F.202 32 L.202 82 

Net Interbank Transactions F.203 33 L.203 83 

Checkable Deposits and Currency F.204 34 L.204 84 

Time and Savings Deposits F.205 35 L.205 85 

Money Market Mutual Fund Shares F.206 35 L.206 85 

Federal Funds and Security Repurchase Agreements F.207 36 L.207 86 

Open Market Paper F.208 37 L.208 87 

Treasury Securities F.209 38 L.209 88 

Agency- and GSE-Backed Securities F.210 39 L.210 89

Municipal Securities and Loans F.211 40 L.211 90 

Corporate and Foreign Bonds F.212 41 L.212 91 

Corporate Equities F.213 42 L.213 92 

Mutual Fund Shares F.214 42 L.214 92 

Depository Institution Loans Not Elsewhere Classified F.215 43 L.215 93 

Other Loans and Advances F.216 44 L.216 94 

Total Mortgages F.217 45 L.217 95 

Home Mortgages F.218 46 L.218 96 

Multifamily Residential Mortgages F.219 46 L.219 96 

Commercial Mortgages F.220 47 L.220 97 

Farm Mortgages F.221 47 L.221 97 

Consumer Credit F.222 48 L.222 98 
Flows Levels

Title Table Page Table Page 

Trade Credit F.223 48 L.223 98 

Security Credit F.224 48 L.224 98 

Life Insurance and Pension Fund Reserves F.225 49 L.225 99 

Taxes Payable by Businesses F.226 49 L.226 99 

Proprietors' Equity in Noncorporate Business F.227 49 L.227 99 

Total Miscellaneous Financial Claims F.228 50 L.228 100 

 Identified Miscellaneous Financial Claims - Part I F.229 51 L.229 101 

 Identified Miscellaneous Financial Claims - Part II F.230 52 L.230 102 

Unidentified Miscellaneous Financial Claims F.231 53 L.231 103 

Sector Discrepancies F.11 54 

Instrument Discrepancies F.12 54 

Balance Reconciliation

Sheet

Title Table Page Table Page

Balance Sheet, Reconciliation, and 

Supplementary Tables 

Households and Nonprofit Organizations B.100 104 R.100 107 

Nonfarm Nonfinancial Corporate Business B.102 105 R.102 108 

Nonfarm Noncorporate Business B.103 106 R.103 109 

Balance Sheet of Households and Nonprofit Organizations 

with Equity Detail B.100.e 110 

Consolidated Statement for Federal, State, and Local Governments F.105.c 111 L.105.c 112 

Private Pension Funds: Defined Benefit Plans F.116.b 113 L.116.b 114 

Private Pension Funds: Defined Contribution Plans F.116.c 113 L.116.c 114 

Individual Retirement Accounts (IRAs) F.225.i 113 L.225.i 114 
FFA, 1985-1994, December 6, 2012 1

F.1 Total Credit Market Borrowing and Lending (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Credit market borrowing 1162.0 1184.8 1019.3 1041.6 920.2 890.0 641.6 775.0 1030.0 1093.2 1

 2 Domestic nonfinancial sectors 957.7 845.0 721.3 784.4 685.3 658.4 473.4 514.3 667.3 640.0 2

 3 Household sector 313.8 258.1 264.3 270.4 276.8 233.2 183.3 203.2 239.4 324.3 3

 4 Nonfinancial corporate business 184.2 229.5 164.6 224.4 166.4 130.9 -53.1 17.1 134.4 191.0 4

 5 Nonfinancial noncorporate business 70.4 67.2 58.0 84.1 48.4 0.3 -26.2 -26.4 -20.7 14.4 5

 6 State and local governments 163.6 74.2 90.4 50.4 47.4 47.1 91.2 16.5 57.9 -45.5 6

 7 Federal government 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 7

 8 Rest of the world 1.2 9.7 6.3 7.4 10.2 23.9 15.1 24.1 69.8 -11.2 8

 9 Financial sectors 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 9

10 U.S.-chartered depository institutions 13.4 19.1 29.8 17.8 -16.3 -29.7 -45.1 4.5 21.5 24.4 10

11 Foreign banking offices in U.S. 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 11

12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 12

13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 13

14 Government-sponsored enterprises 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 14

15 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 15

16 ABS issuers 15.8 37.5 43.6 36.1 26.9 59.4 53.8 56.3 82.5 70.3 16

17 Finance companies 41.9 60.5 12.0 24.0 37.5 23.1 13.6 4.9 -1.3 37.2 17

18 REITs 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 18

19 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 19

20 Holding companies 17.7 11.4 15.0 4.9 5.3 -30.6 -6.1 -0.1 9.6 13.5 20

21 Funding corporations 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 21

22 Credit market lending 1162.0 1184.8 1019.3 1041.6 920.2 890.0 641.6 775.0 1030.0 1093.2 22

23 Domestic nonfinancial sectors 325.1 119.5 233.3 238.5 163.1 273.1 164.6 60.1 96.8 288.2 23

24 Household sector 149.0 42.5 191.8 183.6 99.5 229.8 81.6 42.7 81.9 324.3 24

25 Nonfinancial corporate business 16.9 -5.6 -0.8 19.0 32.2 -26.1 30.7 27.8 9.1 17.7 25

26 Nonfinancial noncorporate business 4.9 2.7 -7.7 10.5 -11.1 -3.5 -5.3 -0.1 -1.2 6.8 26

27 State and local governments 136.6 70.2 57.8 34.9 45.5 39.3 47.2 1.7 32.6 -55.0 27

28 Federal government 17.8 9.7 -7.9 -9.5 -3.0 33.6 10.5 -11.9 -25.6 -5.6 28

29 Rest of the world 67.4 105.7 60.9 108.3 82.9 87.3 15.5 97.2 129.3 132.3 29

30 Financial sectors 769.5 959.6 725.1 694.7 674.3 529.6 461.4 617.7 803.8 672.7 30

31 Monetary authority 18.4 19.4 21.0 14.8 -7.9 8.1 31.1 27.9 36.2 31.5 31

32 U.S.-chartered depository institutions 240.0 256.6 216.7 226.8 48.2 -69.9 -122.5 -9.5 126.9 153.8 32

33 Foreign banking offices in U.S. 16.4 35.0 34.1 29.3 26.8 28.4 48.5 16.6 -10.1 11.3 33

34 Banks in U.S.-affiliated areas 2.7 0.9 0.1 0.8 1.6 4.5 -1.9 3.7 2.4 3.3 34

35 Credit unions 13.4 15.5 17.5 17.5 7.1 10.6 12.8 17.7 21.7 28.1 35

36 Property-casualty insurance companies 28.6 39.5 40.1 30.9 28.7 28.5 27.4 10.4 27.1 23.4 36

37 Life insurance companies 76.5 87.9 88.6 103.1 100.1 107.2 80.8 79.5 100.4 72.0 37

38 Private pension funds 23.1 4.6 13.6 22.0 51.6 43.5 25.4 26.0 36.2 39.7 38

39 State and local govt. retirement funds 19.2 44.7 31.7 21.8 30.9 20.5 2.6 37.1 26.9 10.1 39

40 Federal government retirement funds 0.0 0.0 1.1 1.6 2.1 2.5 2.6 3.0 3.1 3.7 40

41 Money market mutual funds 14.0 34.9 1.9 10.5 68.3 77.5 32.7 4.7 20.4 30.0 41

42 Mutual funds 76.1 129.9 31.3 13.3 22.7 36.2 80.1 126.2 159.5 -7.1 42

43 Closed-end funds 1.4 2.9 4.0 17.9 6.6 1.3 12.8 20.2 20.0 -3.7 43

44 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

45 Government-sponsored enterprises 25.1 16.6 23.4 33.3 -4.3 14.0 15.0 69.3 88.5 121.2 45

46 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 46

47 ABS issuers 15.0 36.7 41.8 34.4 25.0 50.4 49.2 52.1 79.9 63.2 47

48 Finance companies 50.7 56.7 38.4 45.0 55.4 27.5 7.7 2.4 -7.3 32.0 48

49 REITs 2.6 5.0 7.5 4.3 0.6 -1.8 -0.6 1.4 0.4 -0.7 49

50 Brokers and dealers 4.1 8.1 -35.0 -16.3 80.2 2.8 17.5 -1.3 14.8 -44.2 50

51 Holding companies 3.7 -0.3 2.0 -0.1 2.8 -2.8 -1.5 5.6 -0.0 0.9 51

52 Funding corporations 59.7 0.8 7.8 8.0 3.6 -10.0 5.1 9.2 -27.9 -11.0 52

(1) Excludes corporate equities and mutual fund shares.
2 FFA, 1985-1994, December 6, 2012

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Domestic 957.7 845.0 721.3 784.4 685.3 658.4 473.4 514.3 667.3 640.0 1

 2 By instrument 957.7 845.0 721.3 784.4 685.3 658.4 473.4 514.3 667.3 640.0 2

 3 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 3

 4 Treasury securities 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 4

 5 Agency- and GSE-backed securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 5

 6 Municipal securities 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 6

 7 Corporate bonds 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 7

 8 Depository institution loans n.e.c. 51.0 65.5 13.2 44.2 25.7 -6.2 -48.4 -21.9 5.9 72.4 8

 9 Other loans and advances 31.3 43.2 39.1 45.9 56.3 71.0 -48.5 13.1 -29.4 46.1 9

10 Mortgages 259.8 286.8 320.9 322.3 264.8 225.9 147.1 110.4 113.6 154.6 10

11 Home 179.9 203.3 240.3 223.8 226.4 208.2 164.4 167.4 156.6 177.2 11

12 Multifamily residential 28.5 33.4 16.7 18.1 10.4 -1.4 -3.5 -13.4 -5.9 -2.7 12

13 Commercial 69.7 60.1 72.1 85.4 30.1 20.2 -13.7 -44.1 -37.7 -21.4 13

14 Farm -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 14

15 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 15

16 By sector 957.7 845.0 721.3 784.4 685.3 658.4 473.4 514.3 667.3 640.0 16

17 Household sector 313.8 258.1 264.3 270.4 276.8 233.2 183.3 203.2 239.4 324.3 17

18 Nonfinancial business 254.6 296.7 222.6 308.5 214.8 131.2 -79.3 -9.3 113.8 205.4 18

19 Corporate 184.2 229.5 164.6 224.4 166.4 130.9 -53.1 17.1 134.4 191.0 19

20 Noncorporate 70.4 67.2 58.0 84.1 48.4 0.3 -26.2 -26.4 -20.7 14.4 20

21 State and local governments 163.6 74.2 90.4 50.4 47.4 47.1 91.2 16.5 57.9 -45.5 21

22 Federal government 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 22

23 Foreign borrowing in U.S. 1.2 9.7 6.3 7.4 10.2 23.9 15.1 24.1 69.8 -11.2 23

24 Commercial paper 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 24

25 Bonds 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 25

26 Depository institution loans n.e.c. -2.8 -1.0 -3.6 -1.8 -0.1 -2.9 3.1 2.3 0.7 1.4 26

27 Other loans and advances -6.0 -3.9 -1.4 -6.4 -7.6 -7.0 -9.8 -0.6 -4.2 -1.4 27

28 Domestic and foreign 958.9 854.7 727.5 791.8 695.5 682.2 488.5 538.4 737.1 628.8 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars

 1 By instrument 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 1

 2 Open market paper 32.0 24.2 26.9 54.8 31.3 8.6 -32.3 -1.1 -5.5 40.5 2

 3 GSE issues 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 3

 4 Agency- and GSE-backed mortgage pool sec. 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 4

 5 Corporate bonds 56.5 92.3 78.6 52.2 40.8 54.5 72.0 83.0 120.2 115.5 5

 6 Depository institution loans n.e.c. -1.1 13.7 -7.1 2.3 13.2 0.6 4.4 -1.6 -13.0 -11.3 6

 7 Other loans and advances 16.2 20.2 25.0 19.4 -10.5 -24.0 -37.3 -0.6 22.4 17.8 7

 8 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 8

 9 By sector 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 9

10 U.S.-chartered depository institutions 13.4 19.1 29.8 17.8 -16.3 -29.7 -45.1 4.5 21.5 24.4 10

11 Foreign banking offices in U.S. 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 11

12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 12

13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 13

14 Government-sponsored enterprises 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 14

15 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 15

16 ABS issuers 15.8 37.5 43.6 36.1 26.9 59.4 53.8 56.3 82.5 70.3 16

17 Finance companies 41.9 60.5 12.0 24.0 37.5 23.1 13.6 4.9 -1.3 37.2 17

18 REITs 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 18

19 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 19

20 Holding companies 17.7 11.4 15.0 4.9 5.3 -30.6 -6.1 -0.1 9.6 13.5 20

21 Funding corporations 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 21
FFA, 1985-1994, December 6, 2012 3

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total 1162.0 1184.8 1019.3 1041.6 920.2 890.0 641.6 775.0 1030.0 1093.2 1

 2 Open market paper 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 2

 3 Treasury securities 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 3

 4 Agency- and GSE-backed securities 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 4

 5 Municipal securities 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 5

 6 Corporate and foreign bonds 143.4 222.5 164.7 162.2 119.5 123.0 165.7 167.4 386.5 221.0 6

 7 Depository institution loans n.e.c. 47.1 78.2 2.5 44.7 38.8 -8.4 -40.9 -21.2 -6.5 62.5 7

 8 Other loans and advances 41.6 59.5 62.7 58.9 38.3 40.0 -95.6 11.9 -11.2 62.5 8

 9 Mortgages 259.8 287.0 321.2 322.6 265.1 226.5 147.5 111.0 117.2 164.4 9

10 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

11 Total net issues 16.1 84.2 -2.6 -107.1 -75.9 4.8 205.1 290.1 427.8 113.7 11

12 Corporate equities -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 12

13 Nonfinancial -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 13

 Foreign shares purchased by

14 U.S. residents 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 14

15 Financial 10.5 14.7 14.9 22.9 3.6 6.7 22.3 40.2 51.1 9.9 15

16 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 16

F.5 Net Increase in Liabilities and Its Relation to Net Acquisition of Financial Assets

Billions of dollars

 Net flows through credit markets

 1 (from table F.4, line 1) 1162.0 1184.8 1019.3 1041.6 920.2 890.0 641.6 775.0 1030.0 1093.2 1

 2 U.S. official reserve assets 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 2

 3 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 3

 4 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 4

 5 Foreign deposits 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 5

 6 Net interbank transactions 25.8 24.0 41.6 4.4 -10.7 27.6 -3.0 42.7 54.9 105.5 6

 7 Checkable deposits and currency 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 7

 8 Small time and savings deposits 140.4 130.0 76.6 122.7 98.9 63.9 1.6 -57.2 -70.4 -37.4 8

 9 Large time deposits 17.1 3.6 49.8 53.2 16.9 -66.1 -58.5 -73.2 -23.5 19.6 9

10 Money market fund shares 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 10

11 Security RPs 26.9 50.2 -8.8 21.1 70.8 -23.7 -9.1 39.0 70.0 75.4 11

12 Corporate equities -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 12

13 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 13

14 Trade payables 66.0 21.4 73.5 91.9 62.9 41.6 43.3 59.1 68.8 108.5 14

15 Security credit 43.3 9.9 -27.4 3.0 15.6 3.5 51.4 4.6 61.4 -0.1 15

16 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 16

17 Pension fund reserves 233.6 188.0 167.8 217.3 200.4 191.8 222.5 202.1 291.0 290.6 17

18 Taxes payable 1.3 6.9 3.6 0.8 -2.1 2.1 -7.9 7.3 5.8 0.2 18

19 Noncorporate proprietors’ equity -14.1 -2.5 -26.1 -30.6 -32.8 23.9 31.1 34.3 50.6 48.6 19

20 Miscellaneous 508.2 215.1 335.3 508.7 585.7 193.0 292.8 331.7 302.8 278.2 20

21 Total financial sources 2343.8 2135.6 1756.6 2035.7 2034.7 1522.7 1535.0 1792.0 2427.0 2208.4 21

 - Liabilities not identified as assets:

22 Treasury currency -0.2 -0.0 -0.1 -0.1 -0.3 0.2 -0.6 -0.2 -0.2 -0.2 22

23 Foreign deposits 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 23

24 Net interbank liabilities 0.9 -8.8 -4.2 1.2 0.0 -2.6 20.9 -5.7 6.3 5.1 24

25 Security RPs -17.6 14.6 -18.4 7.3 8.9 -55.5 -39.1 4.3 42.7 61.7 25

26 Taxes payable 3.4 5.9 9.3 3.9 -1.3 7.9 -2.7 7.7 11.1 5.0 26

27 Miscellaneous 164.9 -85.7 -86.3 12.7 158.2 -61.4 -32.7 53.5 -201.8 -269.3 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 28

29 Federal govt. 1.3 -0.6 -0.0 1.6 8.4 3.3 -13.1 0.7 -1.5 -4.8 29

30 Private domestic 0.7 -8.9 0.4 0.8 -2.2 8.5 4.5 1.6 -1.3 -2.8 30

31 Trade credit 5.6 5.5 -9.0 -26.2 0.0 -8.0 48.3 22.1 6.7 8.0 31

 Totals identified to sectors

32 as assets 2179.1 2193.2 1852.8 2033.9 1824.4 1604.4 1573.4 1710.8 2570.8 2362.8 32
4 FFA, 1985-1994, December 6, 2012

F.6 Distribution of Gross Domestic Product (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross Domestic Product (GDP) 4217.5 4460.1 4736.4 5100.4 5482.2 5800.5 5992.1 6342.3 6667.3 7085.2 1

 2 Personal consumption expenditures (2) 2717.6 2896.7 3097.0 3350.1 3594.5 3835.4 3980.1 4236.9 4483.6 4750.8 2

 3 Durable goods 380.4 421.4 442.0 475.1 494.3 497.1 477.2 508.1 551.5 607.2 3

 4 Nondurable goods 757.2 774.2 814.3 862.3 929.5 994.2 1020.3 1055.2 1090.8 1139.4 4

 5 Services 1580.0 1701.1 1840.7 2012.7 2170.7 2344.1 2482.6 2673.6 2841.2 3004.3 5

 6 Gross private domestic investment 736.2 746.5 785.0 821.6 874.9 861.0 802.9 864.8 953.3 1097.3 6

 7 Fixed investment 714.4 739.9 757.8 803.1 847.3 846.4 803.3 848.5 932.5 1033.5 7

 8 Nonresidential 526.2 519.8 524.1 563.8 607.7 622.4 598.2 612.1 666.6 731.4 8

 9 Household sector (nonprofit organizations) 24.0 25.8 29.8 31.9 35.2 38.2 39.8 41.6 40.1 40.9 9

10 Nonfinancial corporate business 356.0 345.6 339.4 362.9 393.5 422.8 413.4 429.6 466.4 515.9 10

11 Nonfinancial noncorporate business 88.7 87.0 81.0 87.6 88.3 73.3 64.6 61.1 72.1 79.3 11

12 Financial institutions 57.5 61.5 73.9 81.4 90.7 88.2 80.4 79.9 87.9 95.3 12

13 Residential 188.2 220.1 233.7 239.3 239.5 224.0 205.1 236.3 266.0 302.1 13

14 Household sector 149.4 175.0 189.6 199.5 198.1 184.0 172.1 202.5 227.6 261.0 14

15 Nonfinancial corporate business 1.6 1.8 1.7 1.6 1.6 1.5 1.6 -0.8 -3.3 -5.0 15

16 Nonfinancial noncorporate business 37.1 43.1 42.2 38.1 39.7 38.3 31.2 32.0 36.5 38.8 16

17 REITs 0.1 0.2 0.2 0.1 0.1 0.2 0.2 2.6 5.2 7.3 17

18 Change in private inventories 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 18

19 Nonfinancial corporate business 15.7 7.5 31.4 27.9 26.3 11.7 0.7 10.1 25.1 50.2 19

20 Nonfinancial noncorporate business 6.1 -0.9 -4.3 -9.5 1.4 2.8 -1.1 6.3 -4.3 13.6 20

21 Net U.S. exports of goods and services -115.2 -132.5 -144.9 -110.1 -87.9 -77.6 -27.0 -32.8 -64.4 -92.7 21

22 Exports 302.0 320.3 363.8 443.9 503.1 552.1 596.6 635.0 655.6 720.7 22

23 - Imports 417.2 452.9 508.7 554.0 591.0 629.7 623.5 667.8 720.0 813.4 23

 Government consumption expenditures and

24 gross investment 878.9 949.3 999.4 1038.9 1100.6 1181.7 1236.1 1273.5 1294.8 1329.8 24

25 Consumption expenditures (3) 720.1 776.1 815.1 852.8 902.9 966.0 1015.8 1050.4 1075.4 1108.9 25

26 Federal 338.3 358.0 373.7 381.7 398.5 419.0 438.3 444.1 441.2 440.7 26

27 State and local 381.8 418.1 441.4 471.0 504.5 547.0 577.5 606.2 634.2 668.2 27

28 Gross investment (3) 158.8 173.2 184.3 186.1 197.7 215.7 220.3 223.1 219.4 220.9 28

29 Federal 74.4 80.4 85.8 79.8 83.0 88.5 88.2 88.8 83.8 77.9 29

30 State and local 84.4 92.8 98.5 106.3 114.7 127.2 132.1 134.3 135.7 143.0 30

 Memo:

31 Net U.S. income receipts from rest of the world 26.5 17.6 17.7 23.4 25.9 34.4 29.9 29.1 31.2 24.1 31

32 U.S. income receipts 112.4 111.0 122.8 151.6 177.2 188.5 168.1 151.8 155.2 184.1 32

33 - U.S. income payments 85.9 93.4 105.2 128.3 151.2 154.1 138.2 122.7 124.0 160.0 33

 Gross National Product (GNP) =

34 GDP + net U.S. income receipts 4244.0 4477.7 4754.0 5123.8 5508.1 5834.9 6022.0 6371.4 6698.5 7109.2 34

 Acquisition of nonproduced nonfinancial assets (net)

35 Household sector -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 35

36 Nonfinancial corporate business 0.6 2.2 -0.5 -0.8 -0.4 -0.7 -1.8 -1.8 -1.8 -1.8 36

37 State and local governments 3.1 3.7 4.2 4.3 4.9 5.7 5.8 5.9 5.9 6.2 37

38 Federal governments -1.1 -3.0 -0.4 -0.1 -0.7 -0.7 0.2 0.2 0.2 0.2 38

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

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

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

(3) Government inventory investment is included in consumption expenditures.
FFA, 1985-1994, December 6, 2012 5

F.7 Distribution of National Income (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 National Income 3696.2 3871.5 4150.0 4522.3 4800.5 5059.5 5217.9 5517.1 5784.7 6181.3 1

 2 Compensation of employees 2411.7 2557.7 2735.6 2954.2 3131.3 3326.3 3438.3 3631.4 3797.1 3998.5 2

 3 Wages and other labor income 2264.2 2399.8 2569.4 2769.5 2937.6 3119.8 3223.2 3418.8 3551.0 3726.8 3

 4 Employer social insurance contributions 147.7 157.9 166.3 184.6 193.7 206.5 215.1 228.4 239.7 254.1 4

 5 Wage accruals less disbursements -0.2 0.0 0.0 0.0 0.0 0.1 -0.1 -15.8 6.4 17.6 5

 Proprietors’ income with inventory

 6 valuation and capital consumption adjustments 246.1 262.6 294.2 334.8 351.6 365.1 367.3 414.9 449.6 485.1 6

 Rental income of persons (with capital

 7 consumption adjustment) 41.9 33.8 34.2 40.2 42.4 49.8 61.6 84.6 114.1 142.9 7

 Corporate profits with inventory

 8 valuation and capital consumption adjustments 332.5 314.1 367.8 426.6 425.6 434.5 457.3 496.2 543.7 628.2 8

 Corporate profits with inventory

 9 valuation adjustment 257.5 253.0 306.9 367.7 374.1 398.8 430.3 471.6 515.0 586.6 9

10 Profits before tax 257.5 246.0 323.1 389.9 390.5 411.7 425.4 474.4 519.0 599.0 10

11 Domestic nonfinancial 173.5 149.7 213.5 264.1 243.1 243.3 226.8 258.6 308.7 391.9 11

12 Domestic financial 45.9 56.8 61.6 68.8 80.2 92.3 122.1 142.7 133.4 129.2 12

13 Rest of the world 38.1 39.5 48.0 57.0 67.1 76.1 76.5 73.1 76.9 78.0 13

 Less:

14 Taxes on corporate income 99.4 109.7 130.4 141.6 146.1 145.4 138.6 148.7 171.0 193.1 14

15 Domestic nonfinancial 71.1 76.2 94.2 104.0 101.2 98.5 88.6 94.4 108.0 132.4 15

16 Domestic financial 28.3 33.4 36.2 37.7 44.9 47.0 50.0 54.3 63.0 60.8 16

 Equals:

17 Profits after tax 158.1 136.3 192.7 248.3 244.4 266.3 286.8 325.7 348.0 405.9 17

18 Net dividends 97.6 106.2 112.3 129.9 158.0 169.1 180.7 188.0 202.9 235.7 18

19 Domestic nonfinancial 72.0 72.9 76.3 82.2 105.4 118.3 125.5 134.3 149.2 158.0 19

20 Domestic financial 13.7 15.4 19.4 15.9 21.0 25.8 30.8 25.7 33.2 39.6 20

21 Rest of the world 11.8 17.9 16.7 31.9 31.6 25.0 24.3 28.0 20.6 38.2 21

22 Undistributed profits 60.5 30.1 80.3 118.4 86.4 97.2 106.1 137.7 145.1 170.2 22

23 Domestic nonfinancial 30.4 0.6 43.0 78.0 36.6 26.5 12.7 29.9 51.5 101.6 23

24 Domestic financial 3.9 7.9 6.0 15.3 14.3 19.6 41.3 62.7 37.3 28.8 24

25 Rest of the world 26.3 21.6 31.3 25.1 35.5 51.1 52.1 45.1 56.3 39.8 25

26 Inventory valuation adjustment 0.0 7.1 -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 26

27 Capital consumption adjustment 75.1 61.1 61.0 58.9 51.5 35.7 27.0 24.6 28.7 41.6 27

28 Domestic nonfinancial 76.2 62.7 62.6 62.3 56.7 46.3 39.6 40.3 42.9 54.0 28

29 Domestic financial -1.1 -1.6 -1.6 -3.4 -5.3 -10.7 -12.6 -15.7 -14.2 -12.4 29

30 Net interest and miscellaneous payments 341.5 367.1 366.7 385.3 434.1 444.2 418.2 387.7 364.6 362.2 30

31 Taxes on production and imports 308.1 323.4 347.5 374.5 398.9 425.0 457.1 483.4 503.1 545.2 31

32 Less: Subsidies 21.4 24.9 30.3 29.5 27.4 27.0 27.5 30.1 36.7 32.5 32

33 Business current transfer payments (net) 35.2 36.9 34.1 33.6 39.2 40.1 39.9 40.7 40.5 41.9 33

34 Current surplus of government enterprises 0.6 0.9 0.2 2.6 4.9 1.6 5.7 8.2 8.7 9.6 34

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

35 National Income, from line 1 above 3696.2 3871.5 4150.0 4522.3 4800.5 5059.5 5217.9 5517.1 5784.7 6181.3 35

 Plus:

36 Private consumption of fixed capital 412.8 439.1 464.5 497.1 529.6 560.4 585.4 599.9 626.4 661.0 36

37 Government consumption of fixed capital 92.7 99.4 106.6 113.9 121.8 130.8 138.9 144.5 151.6 158.2 37

38 Statistical discrepancy 42.3 67.8 32.9 -9.5 56.1 84.2 79.7 110.0 135.8 108.8 38

 Less:

39 Net U.S. income receipts from rest of the world 26.5 17.6 17.7 23.4 25.9 34.4 29.9 29.1 31.2 24.1 39

 Equals:

40 Gross Domestic Product 4217.5 4460.1 4736.4 5100.4 5482.2 5800.5 5992.1 6342.3 6667.3 7085.2 40

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

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
6 FFA, 1985-1994, December 6, 2012

F.8 Saving and Investment by Sector (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 738.3 709.3 782.3 901.5 924.1 917.6 951.3 932.3 958.4 1094.7 1

 2 Net saving 232.9 170.8 211.2 290.5 272.7 226.4 227.0 187.9 180.4 275.5 2

 3 Net private saving 389.2 344.7 348.5 411.7 386.5 396.7 451.2 491.8 461.6 487.7 3

 4 Domestic business 135.6 98.3 125.1 155.1 121.5 120.0 138.0 159.5 169.7 199.4 4

 5 Nonfinancial corporate business 130.6 90.1 118.0 140.8 109.2 106.5 104.9 107.9 139.5 176.5 5

 6 Financial business 5.0 8.2 7.1 14.3 12.3 13.5 33.1 51.6 30.3 22.8 6

 7 Households and institutions 253.6 246.4 223.4 256.6 265.0 276.7 313.2 332.3 291.8 288.3 7

 8 Net government saving -156.3 -173.9 -137.4 -121.2 -113.8 -170.3 -224.2 -303.9 -281.2 -212.2 8

 9 Federal -178.6 -194.6 -149.3 -138.4 -133.9 -176.4 -218.4 -302.5 -280.2 -220.4 9

10 State and local 22.4 20.7 12.0 17.2 20.1 6.2 -5.8 -1.4 -0.9 8.2 10

11 Consumption of fixed capital 505.4 538.5 571.1 611.0 651.5 691.2 724.4 744.4 778.0 819.2 11

12 Private 412.8 439.1 464.5 497.1 529.6 560.4 585.4 599.9 626.4 661.0 12

13 Domestic business 348.0 369.9 390.3 417.6 444.4 469.8 490.6 500.9 521.2 549.4 13

14 Nonfinancial corporate business 244.0 258.0 270.0 287.3 303.9 321.0 336.1 344.1 359.0 380.1 14

15 Nonfinancial noncorporate business 73.9 77.5 81.1 85.8 90.4 93.6 95.3 95.8 97.9 101.2 15

16 Financial business 30.1 34.4 39.2 44.5 50.0 55.2 59.2 61.1 64.2 68.2 16

17 Households and institutions 64.8 69.2 74.1 79.5 85.2 90.6 94.8 99.0 105.2 111.5 17

18 Government 92.7 99.4 106.6 113.9 121.8 130.8 138.9 144.5 151.6 158.2 18

19 Federal 48.0 51.6 55.2 59.1 63.3 67.7 72.0 74.6 77.8 80.1 19

20 State and local 44.6 47.8 51.4 54.8 58.5 63.0 66.9 69.9 73.8 78.1 20

 Gross domestic investment, capital account

21 transactions, and net lending, NIPAs 780.7 777.1 815.1 892.0 980.3 1001.8 1031.1 1042.3 1094.2 1203.5 21

22 Gross domestic investment 895.0 919.7 969.2 1007.7 1072.6 1076.7 1023.2 1087.9 1172.8 1318.2 22

23 Gross private domestic investment 736.2 746.5 785.0 821.6 874.9 861.0 802.9 864.8 953.3 1097.3 23

24 Domestic business 562.8 545.7 565.6 590.2 641.6 638.8 590.9 620.7 685.6 795.3 24

25 Nonfinancial corporate business 373.4 355.1 372.7 392.5 421.6 436.2 415.9 441.3 493.1 568.1 25

26 Nonfinancial noncorporate business 131.9 129.1 118.9 116.2 129.3 114.4 94.7 99.5 104.6 131.9 26

27 Financial business 57.5 61.5 73.9 81.4 90.7 88.2 80.4 79.9 87.9 95.3 27

28 Households and institutions 173.4 200.8 219.4 231.4 233.3 222.2 212.0 244.1 267.7 302.0 28

29 Gross government investment 158.8 173.2 184.3 186.1 197.7 215.7 220.3 223.1 219.4 220.9 29

30 Federal 74.4 80.4 85.8 79.8 83.0 88.5 88.2 88.8 83.8 77.9 30

31 State and local 84.4 92.8 98.5 106.3 114.7 127.2 132.1 134.3 135.7 143.0 31

32 Capital account transactions (net) (2) 0.1 0.1 0.1 0.1 0.3 7.4 5.3 -1.3 0.9 1.3 32

33 Private 7.0 9.3 6.8 6.9 8.2 10.8 9.6 8.2 11.6 13.9 33

34 Domestic business 0.6 2.2 -0.5 -0.8 1.3 -0.7 -0.6 6.8 -0.7 3.0 34

35 Nonfinancial corporate business 0.6 2.2 -0.5 -0.8 -1.6 -0.7 -1.8 -8.8 -2.4 -5.1 35

36 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 36

37 Financial business 0.0 0.0 0.0 0.0 3.2 0.0 1.3 17.4 2.0 12.2 37

38 Households and institutions 6.4 7.1 7.3 7.7 7.0 11.5 10.2 1.4 12.3 10.9 38

39 Government -6.9 -9.2 -6.7 -6.8 -7.9 -3.4 -4.3 -9.5 -10.7 -12.6 39

40 Federal 12.0 10.1 11.5 12.0 10.6 15.9 15.7 11.6 11.6 11.1 40

41 State and local -18.9 -19.3 -18.2 -18.8 -18.5 -19.3 -20.0 -21.0 -22.3 -23.7 41

42 Net lending (+) or net borrowing (-), NIPAs (3) -114.5 -142.8 -154.2 -115.9 -92.7 -82.3 2.6 -44.3 -79.4 -116.0 42

43 Private 101.1 95.7 54.1 70.8 89.0 169.5 303.9 328.8 258.8 146.3 43

44 Domestic business -37.5 -12.0 -16.7 -26.3 -20.9 35.9 118.0 143.0 141.7 59.3 44

45 Nonfinancial corporate business (3) 42.9 58.6 48.8 26.8 49.2 76.2 106.7 129.5 143.6 102.4 45

46 Nonfinancial noncorporate business -58.0 -51.6 -37.8 -30.4 -38.5 -20.9 0.7 -1.9 -6.4 -26.6 46

47 Financial business -22.4 -19.0 -27.7 -22.6 -31.6 -19.4 10.6 15.4 4.5 -16.5 47

48 Households and institutions 138.6 107.7 70.9 97.1 109.9 133.7 185.9 185.8 117.1 86.9 48

49 Government -215.5 -238.5 -208.4 -186.7 -181.7 -251.8 -301.3 -373.1 -338.3 -262.3 49

50 Federal -217.0 -233.6 -191.5 -171.2 -164.2 -213.1 -250.3 -328.2 -297.8 -229.3 50

51 State and local 1.5 -4.9 -16.9 -15.5 -17.5 -38.8 -51.0 -44.9 -40.5 -33.0 51

52 Statistical discrepancy (line 21 less line 1) 42.3 67.8 32.9 -9.5 56.1 84.2 79.7 110.0 135.8 108.8 52

 Addenda:

53 Disaster losses 1.7 0.0 0.0 0.0 9.0 0.0 1.5 17.9 4.1 20.4 53

54 Private 1.7 0.0 0.0 0.0 7.9 0.0 1.5 17.9 4.1 18.4 54

55 Domestic business 0.5 0.0 0.0 0.0 4.7 0.0 0.3 8.2 2.5 13.6 55

56 Households and institutions 1.2 0.0 0.0 0.0 3.3 0.0 1.2 9.8 1.6 4.8 56

57 Government 0.0 0.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0 2.0 57

58 Federal 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 1.0 0.0 0.0 0.0 0.0 2.0 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).
FFA, 1985-1994, December 6, 2012 7

F.9 Net Capital Transfers (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Capital transfers paid, by sector 28.5 30.1 29.7 30.9 35.9 44.0 43.4 57.6 44.0 58.8 1

 2 By private business 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 2

 3 Financial corporations 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 3

 4 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 4

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

 6 Nonfinancial corporations 0.0 0.0 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 7

 8 By government 19.6 20.1 19.1 19.8 20.2 28.2 26.5 22.6 24.3 26.0 8

 9 Federal 19.6 20.1 19.1 19.8 20.2 28.2 26.5 22.6 24.3 26.0 9

10 Investment grants to state and local govts. 19.4 20.0 19.0 19.6 19.9 20.8 21.2 22.4 23.5 24.8 10

11 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Financial stabilization payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Other capital transfers paid to business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Other capital transfers paid to persons 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Capital transfers paid to the rest of the world (net) 0.1 0.1 0.1 0.1 0.3 7.4 5.3 0.2 0.8 1.2 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 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 17

18 By persons 8.9 10.0 10.6 11.1 12.4 15.8 15.6 15.8 17.6 20.2 18

19 Estate and gift taxes, federal 6.4 7.0 7.2 7.6 8.9 11.6 11.0 11.3 12.9 15.1 19

20 Estate and gift taxes, state and local 2.6 3.0 3.4 3.5 3.5 4.2 4.6 4.5 4.7 5.1 20

21 By the rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.0 0.0 21

22 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 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 23

24 Capital transfers received, by sector 28.5 30.1 29.7 30.9 35.9 44.0 43.4 57.6 44.0 58.8 24

25 By private business 0.0 0.0 0.0 0.0 1.6 0.0 0.1 9.1 1.0 7.7 25

26 Financial corporations 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.3 0.0 0.3 26

27 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.3 0.0 0.3 27

28 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Nonfinancial corporations 0.0 0.0 0.0 0.0 1.2 0.0 0.0 7.0 0.6 3.3 29

30 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 1.2 0.0 0.0 7.0 0.6 3.3 30

31 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Noncorporate business 0.0 0.0 0.0 0.0 0.4 0.0 0.1 1.8 0.4 4.1 32

33 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.4 0.0 0.1 1.8 0.4 4.1 33

34 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 By government 28.4 30.0 29.5 30.7 32.3 36.6 36.8 38.2 41.1 45.0 35

36 Federal 6.4 7.0 7.2 7.6 8.9 11.6 11.0 11.3 12.9 15.1 36

37 Estate and gift taxes paid by persons 6.4 7.0 7.2 7.6 8.9 11.6 11.0 11.3 12.9 15.1 37

38 State and local 22.0 23.0 22.3 23.1 23.4 25.0 25.8 26.9 28.2 29.9 38

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

40 Estate and gift taxes paid by persons 2.6 3.0 3.4 3.5 3.5 4.2 4.6 4.5 4.7 5.1 40

41 Investment grants paid by federal government 19.4 20.0 19.0 19.6 19.9 20.8 21.2 22.4 23.5 24.8 41

42 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

43 By persons 0.0 0.0 0.0 0.0 1.6 0.0 1.1 10.1 1.1 4.8 43

44 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 1.6 0.0 1.1 10.1 1.1 4.8 44

45 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 By the rest of the world 0.1 0.1 0.1 0.1 0.3 7.4 5.3 0.2 0.8 1.2 46

47 Capital transfers paid by U.S. government 0.1 0.1 0.1 0.1 0.3 7.4 5.3 0.2 0.8 1.2 47

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

 Addenda: Net capital transfers paid by sector

49 By private business (lines 2-25) -0.0 0.0 0.0 0.0 1.6 0.0 1.1 8.6 1.1 4.8 49

50 Financial corporations (lines 3-26) 0.0 0.0 0.0 0.0 3.2 0.0 1.3 17.4 2.0 12.2 50

51 Property-casualty insurance companies (line 4) 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 51

52 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 -0.1 0.0 0.0 -0.3 -0.0 -0.3 52

53 Financial stabilization payments (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 Other (lines 5-27) 0.0 0.0 0.0 0.0 -0.1 0.0 0.0 -0.3 -0.0 -0.3 54

55 Government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

56 Holding companies (GMAC) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Funding corporations (AIG) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

58 Nonfinancial corporations (lines 6-29) -0.0 0.0 0.0 0.0 -1.2 0.0 0.0 -7.0 -0.6 -3.3 58

59 Noncorporate business (lines 7-32) 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 59

60 By government (lines 8-35) -8.8 -9.9 -10.4 -11.0 -12.1 -8.4 -10.3 -15.6 -16.8 -19.0 60

61 Federal (lines 9-36) 13.2 13.1 11.9 12.1 11.3 16.6 15.5 11.3 11.4 10.9 61

62 State and local (lines 16-38) -22.0 -23.0 -22.3 -23.1 -23.4 -25.0 -25.8 -26.9 -28.2 -29.9 62

63 By persons (lines 18-43) 8.9 10.0 10.6 11.1 10.8 15.8 14.5 5.7 16.6 15.5 63

64 By the rest of the world (lines 21-46) -0.1 -0.1 -0.1 -0.1 -0.3 -7.4 -5.3 1.3 -0.8 -1.2 64

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

(2) Sum of lines 53, 55, 56, and 57 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Flow of Funds Accounts.
8 FFA, 1985-1994, December 6, 2012

F.10 Derivation of Measures of Personal Saving (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 582.3 587.2 460.2 553.3 437.2 532.6 425.6 434.4 519.9 535.7 1

 2 Foreign deposits 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 2

 3 Checkable deposits and currency 32.0 119.7 0.2 4.2 2.9 -9.2 56.3 116.8 54.3 -18.8 3

 4 Time and savings deposits 143.2 106.5 120.2 165.5 75.6 47.9 -69.1 -97.8 -111.3 -33.4 4

 5 Money market fund shares 3.3 42.0 20.7 19.2 78.6 39.2 19.0 -39.8 -0.9 13.9 5

 6 Securities 94.9 64.9 91.8 57.9 9.4 200.9 128.2 209.8 200.3 195.5 6

 7 Open market paper -9.2 -0.3 -0.8 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 7

 8 U.S. savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 8

 9 Treasury bills and other Treasury securities 6.7 -13.9 24.7 70.6 35.3 88.8 12.9 64.9 35.4 166.5 9

10 Agency- and GSE-backed securities -7.7 1.7 7.1 19.6 21.2 35.3 6.4 1.7 -56.8 110.5 10

11 Municipal securities 103.6 15.2 105.6 56.8 27.9 34.7 54.7 -28.3 -28.3 -46.3 11

12 Corporate and foreign bonds 46.5 31.9 32.0 -11.8 5.3 47.1 28.8 -2.2 114.1 94.2 12

13 Corporate equities (2) -130.1 -122.6 -143.8 -122.3 -110.1 -50.8 -53.9 27.2 -118.7 -145.3 13

14 Mutual fund shares 79.7 139.4 59.0 -1.7 27.3 31.5 102.7 133.3 227.5 3.2 14

15 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 15

16 Pension fund reserves 233.6 188.0 167.8 217.3 200.4 191.8 222.5 202.1 291.0 290.6 16

17 Miscellaneous and other assets 62.8 47.0 32.8 62.3 39.9 34.1 40.8 12.9 50.5 49.2 17

18 Gross investment in nonfinancial assets 657.4 723.7 750.5 786.1 818.8 797.3 748.8 815.6 884.0 989.6 18

19 Residential fixed investment 186.5 218.1 231.8 237.6 237.7 222.3 203.3 234.6 264.1 299.8 19

20 Nonresidential fixed investment 112.7 112.7 110.8 119.5 123.5 111.5 104.4 102.6 112.2 120.3 20

21 Consumer durables 354.7 396.6 415.4 441.9 460.0 465.0 446.4 476.4 516.3 560.5 21

22 Nonproduced nonfinancial assets -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 22

23 Inventories 6.1 -0.9 -4.3 -9.5 1.4 2.8 -1.1 6.3 -4.3 13.6 23

24 Consumption of fixed capital 403.9 439.8 469.8 503.2 539.2 571.2 597.2 614.8 645.7 679.5 24

25 Residential fixed investment 69.2 74.0 79.2 84.5 89.7 94.2 97.4 100.4 106.1 112.2 25

26 Nonresidential fixed investment 73.3 77.9 76.1 80.8 85.9 90.0 92.7 94.3 97.1 100.5 26

27 Consumer durables 261.4 288.0 314.5 337.9 363.6 387.1 407.0 420.0 442.5 466.8 27

28 Net investment in nonfinancial assets (3) 253.5 283.8 280.7 282.9 279.5 226.1 151.6 200.8 238.4 310.1 28

29 Residential fixed investment 117.3 144.1 152.6 153.1 148.1 128.1 105.9 134.1 158.1 187.7 29

30 Nonresidential fixed investment 39.4 34.8 34.7 38.6 37.6 21.5 11.7 8.3 15.1 19.7 30

31 Consumer durables 93.3 108.7 100.9 104.1 96.3 77.9 39.4 56.4 73.8 93.7 31

32 Nonproduced nonfinancial assets -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 32

33 Inventories 6.1 -0.9 -4.3 -9.5 1.4 2.8 -1.1 6.3 -4.3 13.6 33

34 Net increase in liabilities 438.2 342.1 311.7 387.2 370.7 237.2 185.2 201.9 252.8 368.2 34

35 Home mortgages 181.0 203.3 239.2 222.6 226.6 207.1 166.9 169.0 157.0 176.0 35

36 Other mortgages 74.0 67.6 36.2 72.9 37.0 -4.4 -11.0 -19.4 -12.1 -14.8 36

37 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 37

38 Policy loans -0.1 -0.1 -0.0 -0.0 3.2 4.1 4.8 5.7 5.6 7.8 38

39 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 39

40 Other liabilities 80.5 8.8 20.4 43.5 57.9 19.1 17.0 39.0 18.2 65.4 40

41 Net capital transfers paid (4) 8.9 10.0 10.6 11.1 10.4 15.8 14.3 3.9 16.2 11.3 41

42 Personal saving, FOF concept (FOF) 406.4 538.9 439.8 460.1 356.5 537.2 406.4 437.1 521.6 488.8 42

43 - Net investment in consumer durables 93.3 108.7 100.9 104.1 96.3 77.9 39.4 56.4 73.8 93.7 43

44 - Government insurance and pension fund reserves (5) 2.2 3.0 1.8 2.1 2.1 1.8 2.4 2.4 1.7 1.6 44

45 = Personal saving, NIPA concept (FOF) (6) 310.9 427.2 337.0 353.9 258.1 457.4 364.6 378.4 446.2 393.6 45

46 Personal saving, NIPA concept (NIPA) 253.6 246.4 223.4 256.6 265.0 276.7 313.2 348.1 285.4 270.7 46

47 Difference 57.4 180.8 113.6 97.3 -6.9 180.7 51.4 30.3 160.8 122.9 47

 Memo:

48 Disposable personal income 3079.3 3258.8 3435.3 3726.3 3991.4 4254.0 4444.9 4736.7 4921.6 5184.3 48

 Personal saving as a percentage of disposable personal income:

49 FOF concept (FOF data) (line 42) 13.2 16.5 12.8 12.3 8.9 12.6 9.1 9.2 10.6 9.4 49

50 NIPA concept (FOF data) (line 45) 10.1 13.1 9.8 9.5 6.5 10.8 8.2 8.0 9.1 7.6 50

51 NIPA concept (NIPA data) (line 46) 8.2 7.6 6.5 6.9 6.6 6.5 7.0 7.3 5.8 5.2 51

52 Difference (line 47) 1.9 5.5 3.3 2.6 -0.2 4.2 1.2 0.6 3.3 2.4 52

(1) Consolidated statement for households and nonprofit organizations and nonfinancial noncorporate business.

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 14) and life insurance and pension reserves (lines 15 and 16)).

(3) Line 18 less line 24.

(4) Table F.9, line 59 plus line 63.

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

(6) Line 45 and 46 are conceptually equivalent but measure saving using different data. Line 45 is net acquisition of financial assets net of government insurance and pension fund reserves (line 1 less line 44) plus

 net investment in nonfinancial assets net of consumer durables (line 28 less line 43) less net increase in liabilities (line 34) plus net capital transfers paid (line 41). Line 46 is disposable personal income (line 48) less

 personal outlays (table F.100, line 4).
FFA, 1985-1994, December 6, 2012 9

F.100 Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Personal income 3496.7 3696.0 3924.4 4231.2 4557.5 4846.7 5031.5 5347.3 5568.1 5874.8 1

 2 - Personal current taxes 417.3 437.2 489.1 504.9 566.1 592.7 586.6 610.5 646.5 690.5 2

 3 = Disposable personal income 3079.3 3258.8 3435.3 3726.3 3991.4 4254.0 4444.9 4736.7 4921.6 5184.3 3

 4 - Personal outlays 2825.8 3012.4 3211.9 3469.7 3726.4 3977.3 4131.7 4388.7 4636.2 4913.6 4

 5 = Personal saving, NIPA (2) 253.6 246.4 223.4 256.6 265.0 276.7 313.2 348.1 285.4 270.7 5

 6 + Government insurance and pension reserves (3) 2.2 3.0 1.8 2.1 2.1 1.8 2.4 2.4 1.7 1.6 6

 7 + Net investment in consumer durables 93.3 108.7 100.9 104.1 96.3 77.9 39.4 56.4 73.8 93.7 7

 8 + Consumption of fixed capital 326.3 357.3 388.8 417.6 449.0 477.9 502.1 519.2 548.0 578.6 8

 9 - Net capital transfers paid (4) 8.9 10.0 10.6 11.1 10.8 15.8 14.5 5.7 16.6 15.5 9

10 = Gross saving less net capital transfers paid 666.5 705.4 704.4 769.3 801.6 818.5 842.6 920.4 892.3 929.0 10

11 Gross investment 723.8 886.2 818.0 866.6 794.7 999.3 894.0 950.7 1053.1 1051.9 11

12 Capital expenditures 525.5 594.5 631.5 669.9 689.5 682.9 654.1 716.3 779.7 857.9 12

13 Residential 149.4 175.0 189.6 199.5 198.1 184.0 172.1 202.5 227.6 261.0 13

14 Consumer durable goods 354.7 396.6 415.4 441.9 460.0 465.0 446.4 476.4 516.3 560.5 14

15 Nonprofit nonresidential 24.0 25.8 29.8 31.9 35.2 38.2 39.8 41.6 40.1 40.9 15

16 Nonproduced nonfinancial assets -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 16

17 Net lending (+) or net borrowing (-) 198.3 291.6 186.4 196.7 105.3 316.4 239.9 234.4 273.3 194.0 17

18 Net acquisition of financial assets 534.2 557.4 440.3 471.7 398.1 555.4 448.2 441.9 541.9 522.9 18

19 Foreign deposits 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 19

20 Checkable deposits and currency 17.8 117.1 -0.7 -0.3 1.7 -11.4 54.2 111.4 51.0 -31.1 20

21 Time and savings deposits 137.7 104.8 122.1 158.9 74.2 45.2 -71.3 -104.7 -114.7 -36.9 21

22 Money market fund shares 3.3 41.9 20.8 17.0 78.1 38.3 18.3 -42.2 -2.1 9.6 22

23 Credit market instruments 149.0 42.5 191.8 183.6 99.5 229.8 81.6 42.7 81.9 324.3 23

24 Open market paper -9.2 -0.3 -0.8 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 24

25 Treasury securities 11.6 -2.4 33.5 78.5 41.8 96.7 25.1 83.3 49.4 169.8 25

26 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 26

27 Other 6.4 -15.9 25.7 70.1 33.7 88.3 13.2 64.2 34.8 161.8 27

28 Agency- and GSE-backed securities -7.7 1.7 7.1 19.6 21.2 35.3 6.4 1.7 -56.8 110.5 28

29 Municipal securities 103.6 15.2 105.6 56.8 27.9 34.7 54.7 -28.3 -29.8 -46.5 29

30 Corporate and foreign bonds 46.5 31.9 32.0 -11.8 5.3 47.1 28.8 -2.2 114.1 94.2 30

31 Other loans and advances (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Mortgages 4.0 -3.6 14.4 2.3 8.9 10.2 1.8 -5.9 -7.4 -8.5 32

33 Corporate equities (6) -130.1 -122.6 -143.8 -122.3 -110.1 -50.8 -53.9 27.2 -118.7 -145.3 33

34 Mutual fund shares 79.7 139.4 59.0 -1.7 27.3 31.5 102.7 133.3 227.5 3.2 34

35 Security credit 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 35

36 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 36

37 Pension fund reserves 233.6 188.0 167.8 217.3 200.4 191.8 222.5 202.1 291.0 290.6 37

38 Equity in noncorporate business -14.1 -2.5 -26.1 -30.6 -32.8 23.9 31.1 34.3 50.6 48.6 38

39 Miscellaneous assets 31.3 20.7 28.3 21.0 17.1 20.0 10.7 18.3 13.3 14.7 39

40 Net increase in liabilities 335.9 265.8 253.9 275.0 292.8 238.9 208.3 207.5 268.6 328.9 40

41 Credit market instruments 313.8 258.1 264.3 270.4 276.8 233.2 183.3 203.2 239.4 324.3 41

42 Home mortgages (7) 181.5 198.8 221.5 215.7 224.9 200.1 174.6 173.1 156.3 166.5 42

43 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 43

44 Municipal securities 30.2 -3.0 -0.3 1.5 3.2 3.0 3.8 2.4 1.1 3.2 44

45 Depository institution loans n.e.c. (8) 8.0 -2.5 1.2 -1.6 -9.1 0.4 -2.3 5.8 8.7 9.2 45

46 Other loans and advances 6.9 4.3 3.3 3.8 3.6 7.3 7.4 6.2 1.3 11.1 46

47 Commercial mortgages 3.2 4.7 6.3 4.4 7.2 7.2 8.6 6.6 10.7 -0.8 47

48 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 48

49 Trade payables 3.1 2.3 4.7 2.4 16.2 9.3 9.4 5.9 6.0 5.2 49

 Deferred and unpaid

50 life insurance premiums 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 50

51 Discrepancy -57.4 -180.8 -113.6 -97.3 6.9 -180.7 -51.4 -30.3 -160.8 -122.9 51

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

 outstandings of nonprofit organizations.

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

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

(4) Table F.9, line 63.

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

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

(7) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 23.

(8) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.108, line 21.
10 FFA, 1985-1994, December 6, 2012

F.101 Nonfinancial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Income before taxes 452.4 440.8 534.7 624.2 619.2 636.4 629.3 722.5 823.1 952.4 1

 2 Gross saving less net capital transfers paid 452.3 430.7 469.0 513.7 504.1 519.1 534.1 554.9 595.2 664.2 2

 3 Gross investment 287.1 382.5 408.7 384.3 345.7 469.4 524.7 518.6 698.7 695.3 3

 4 Capital expenditures 505.7 486.2 490.9 507.9 550.4 549.8 508.6 536.4 590.8 691.0 4

 5 Fixed investment 483.3 477.4 464.3 490.2 523.1 535.9 510.8 521.9 571.7 629.0 5

 6 Residential 38.6 44.9 43.9 39.7 41.3 39.8 32.8 31.2 33.2 33.8 6

 7 Nonresidential 444.6 432.5 420.4 450.5 481.8 496.1 478.0 490.6 538.5 595.2 7

 8 Change in inventories 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 8

 9 Nonproduced nonfinancial assets 0.6 2.2 -0.5 -0.8 -0.4 -0.7 -1.8 -1.8 -1.8 -1.8 9

10 Net lending (+) or net borrowing (-) -218.6 -103.7 -82.3 -123.5 -204.7 -80.3 16.1 -17.8 107.9 4.3 10

11 Net acquisition of financial assets 246.9 157.6 223.4 401.3 189.4 126.3 91.0 172.3 360.2 336.0 11

12 Foreign deposits 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 12

13 Checkable deposits and currency 37.5 4.1 10.4 18.6 10.3 8.4 9.1 1.2 23.8 24.2 13

14 Time and savings deposits 5.7 17.9 -1.5 2.9 -0.3 -3.4 5.2 5.4 19.4 8.0 14

15 Money market fund shares -1.5 0.5 0.8 -3.3 0.5 10.2 5.2 15.8 -2.5 7.4 15

16 Security RPs -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 16

17 Credit market instruments 21.8 -2.9 -8.5 29.4 21.1 -29.6 25.4 27.7 7.9 24.5 17

18 Commercial paper 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 18

19 Treasury securities 4.9 1.2 -9.5 -3.3 25.1 -13.2 5.5 17.9 -11.1 6.7 19

20 Agency- and GSE-backed securities -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 20

21 Municipal securities 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 10.4 2.1 21

22 Mortgages 10.2 -6.2 -5.4 26.6 -26.4 -5.7 1.2 0.2 -11.1 6.0 22

23 Consumer credit 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 6.9 9.4 23

24 Mutual fund shares 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 24

25 Trade receivables 49.7 10.2 65.3 102.6 48.9 31.9 -6.9 34.7 55.6 88.2 25

26 Miscellaneous assets 127.9 119.1 164.2 247.0 119.4 110.5 49.4 79.8 253.0 180.8 26

27 Net increase in liabilities 465.5 261.2 305.7 524.9 394.1 206.7 74.9 190.1 252.4 331.7 27

28 Credit market instruments 254.6 296.7 222.6 308.5 214.8 131.2 -79.3 -9.3 113.8 205.4 28

29 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 29

30 Municipal securities 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 30

31 Corporate bonds 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 31

32 Depository institution loans n.e.c. 42.9 68.0 12.1 45.7 34.8 -6.6 -46.2 -27.6 -2.8 63.1 32

33 Other loans and advances 16.2 37.5 38.1 45.3 52.9 62.8 -56.3 7.0 -30.0 34.6 33

34 Mortgages 75.1 83.3 93.0 102.2 32.7 18.5 -36.1 -69.2 -53.4 -11.1 34

35 Corporate equities -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 35

36 Trade payables 41.2 -4.1 49.4 61.2 24.1 28.3 22.0 39.7 38.0 84.8 36

37 Taxes payable 0.3 5.4 5.7 -0.6 -1.4 0.6 -8.9 7.1 3.6 1.0 37

38 Miscellaneous liabilities 268.1 51.8 128.7 316.0 311.8 85.0 92.2 91.4 25.9 35.6 38

39 Proprietors’ net investment -14.2 -3.7 -25.3 -30.7 -31.1 24.6 30.6 34.2 49.7 49.7 39

40 Discrepancy 165.2 48.2 60.3 129.3 158.4 49.7 9.4 36.3 -103.4 -31.2 40

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
FFA, 1985-1994, December 6, 2012 11

F.102 Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Profits before tax (book) 173.5 149.7 213.5 264.1 243.1 243.3 226.8 258.6 308.7 391.9 1

 2 - Taxes on corporate income 71.1 76.2 94.2 104.0 101.2 98.5 88.6 94.4 108.0 132.4 2

 3 - Net dividends 72.0 72.9 76.3 82.2 105.4 118.3 125.5 134.3 149.2 158.0 3

 4 + Capital consumption allowance (1) 320.1 320.5 332.5 349.4 360.4 367.1 375.4 384.0 400.7 432.8 4

 5 = U.S. internal funds, book 350.4 321.2 375.5 427.4 397.0 393.6 388.1 413.9 452.1 534.4 5

 6 + Foreign earnings retained abroad 24.3 19.9 28.7 22.8 31.7 45.0 46.0 39.5 48.5 33.9 6

 7 + Inventory valuation adjustment (IVA) 0.0 7.1 -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 7

 8 - Net capital transfers paid (2) -0.0 0.0 0.0 0.0 -1.2 0.0 0.0 -7.0 -0.6 -3.3 8

 9 = Total internal funds + IVA 374.7 348.1 388.0 428.0 413.5 425.8 438.9 457.5 497.2 559.1 9

10 Gross investment 209.5 299.9 327.7 298.7 255.1 376.1 429.5 421.2 600.6 590.2 10

11 Capital expenditures 373.9 357.0 372.0 391.6 421.1 435.3 413.9 437.0 486.5 559.3 11

12 Fixed investment (3) 357.5 347.3 341.1 364.5 395.2 424.3 414.9 428.8 463.1 510.9 12

13 Inventory change + IVA 15.7 7.5 31.4 27.9 26.3 11.7 0.7 10.1 25.1 50.2 13

14 Nonproduced nonfinancial assets 0.6 2.2 -0.5 -0.8 -0.4 -0.7 -1.8 -1.8 -1.8 -1.8 14

15 Net lending (+) or net borrowing (-) -164.4 -57.1 -44.3 -92.9 -166.0 -59.2 15.6 -15.8 114.1 30.9 15

16 Net acquisition of financial assets 213.0 131.5 228.8 350.4 181.3 124.6 83.0 145.6 332.6 273.6 16

17 Foreign deposits 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 17

18 Checkable deposits and currency 23.2 1.5 9.6 14.0 9.1 6.1 6.9 -4.2 20.6 11.8 18

19 Time and savings deposits 0.2 16.2 0.4 -3.7 -1.7 -6.0 3.0 -1.6 16.0 4.4 19

20 Money market fund shares -1.5 0.4 0.9 -5.5 0.0 9.3 4.5 13.5 -3.7 3.2 20

21 Security RPs -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 21

22 Credit market instruments 16.9 -5.6 -0.8 19.0 32.2 -26.1 30.7 27.8 9.1 17.7 22

23 Commercial paper 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 23

24 Treasury securities 4.6 -0.8 -8.5 -3.9 23.5 -13.8 5.8 17.2 -11.8 2.0 24

25 Agency- and GSE-backed securities -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 25

26 Municipal securities 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 8.9 2.0 26

27 Mortgages 5.6 -6.9 1.4 16.6 -13.7 -1.6 6.2 1.1 -7.8 4.1 27

28 Consumer credit 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 6.9 9.4 28

29 Mutual fund shares 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 29

30 Trade receivables 45.2 2.1 63.9 90.6 42.1 29.2 -5.8 27.6 50.7 71.9 30

31 Miscellaneous assets 123.2 108.1 162.1 231.9 110.1 113.7 40.1 74.7 236.9 161.6 31

32 U.S. direct investment abroad (4) 14.3 19.0 29.7 11.8 26.1 35.6 38.1 40.0 57.9 78.5 32

33 Insurance receivables 4.3 18.9 23.5 15.0 14.3 13.4 2.2 13.7 6.9 5.9 33

34 Equity in GSEs -0.0 -0.0 -0.0 0.0 -0.1 -0.0 0.0 -0.0 0.0 0.0 34

35 Investment in finance co. subs. 4.7 2.1 -6.2 -3.0 0.4 5.5 2.1 2.0 -5.2 2.2 35

36 Other 99.9 68.2 115.2 208.0 69.3 59.2 -2.4 19.1 177.3 75.0 36

37 Net increase in liabilities 377.4 188.6 273.1 443.3 347.3 183.8 67.4 161.4 218.5 242.6 37

38 Net funds raised in markets 99.7 144.5 89.1 94.9 42.2 67.9 -34.9 44.1 155.7 146.1 38

39 Net new equity issues -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 39

40 Credit market instruments 184.2 229.5 164.6 224.4 166.4 130.9 -53.1 17.1 134.4 191.0 40

41 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 41

42 Municipal securities (5) 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 42

43 Corporate bonds (4) 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 43

44 Depository institution loans n.e.c. 40.9 67.4 3.4 36.5 22.1 -10.6 -46.2 -30.4 -7.2 47.8 44

45 Other loans and advances (6) 18.1 38.3 36.3 46.0 48.7 61.7 -57.3 6.2 -27.0 30.9 45

46 Mortgages 4.8 15.9 45.5 26.8 1.2 23.2 -8.8 -39.2 -31.3 -6.5 46

47 Trade payables 42.5 -2.0 44.4 54.1 21.6 28.3 23.1 33.4 36.5 77.4 47

48 Taxes payable -3.2 3.8 5.1 -3.5 -6.1 0.0 -9.4 6.5 5.4 -0.4 48

49 Miscellaneous liabilities 238.3 42.2 134.6 297.8 289.6 87.6 88.6 77.5 20.9 19.5 49

50 Foreign direct investment in U.S. 17.5 31.9 52.5 69.8 62.4 59.1 -1.3 6.7 20.3 46.1 50

51 Pension fund contributions payable 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 51

52 Other 215.0 10.3 80.6 229.2 219.9 22.4 77.9 60.8 -11.8 -38.3 52

53 Discrepancy 165.2 48.2 60.3 129.3 158.4 49.7 9.4 36.3 -103.4 -31.2 53

 Memo:

54 Financing gap (7) 23.4 28.8 12.7 -13.6 40.4 54.6 20.9 26.0 38.4 37.4 54

(1) Consumption of fixed capital plus capital consumption adjustment.

(2) Table F.9, line 58.

(3) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 10 and 15 respectively.

(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

(5) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

(6) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table F.216.

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
12 FFA, 1985-1994, December 6, 2012

F.103 Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving = consumption of fixed capital 77.6 82.6 81.0 85.7 90.2 93.4 95.1 95.5 97.7 100.9 1

 2 Gross saving less net capital transfers paid (1) 77.6 82.6 81.0 85.7 90.6 93.4 95.2 97.4 98.0 105.1 2

 3 Gross investment 77.6 82.6 81.0 85.7 90.6 93.4 95.2 97.4 98.0 105.1 3

 4 Capital expenditures 131.9 129.1 118.9 116.2 129.3 114.4 94.7 99.3 104.3 131.7 4

 5 Fixed investment (2) 125.7 130.1 123.2 125.7 127.9 111.6 95.8 93.1 108.6 118.1 5

 6 Change in inventories 6.1 -0.9 -4.3 -9.5 1.4 2.8 -1.1 6.3 -4.3 13.6 6

 7 Net lending (+) or net borrowing (-) -54.3 -46.6 -38.0 -30.6 -38.7 -21.1 0.5 -2.0 -6.3 -26.6 7

 8 Net acquisition of financial assets 33.9 26.1 -5.4 50.9 8.0 1.8 8.0 26.7 27.6 62.4 8

 9 Checkable deposits and currency 14.2 2.6 0.9 4.6 1.2 2.2 2.1 5.4 3.2 12.3 9

10 Time and savings deposits 5.5 1.7 -1.9 6.6 1.4 2.7 2.2 7.0 3.4 3.6 10

11 Money market mutual funds 0.0 0.1 -0.1 2.2 0.5 0.9 0.7 2.3 1.1 4.2 11

12 Credit market instruments 4.9 2.7 -7.7 10.5 -11.1 -3.5 -5.3 -0.1 -1.2 6.8 12

13 Treasury securities 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 0.6 4.7 13

14 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.1 14

15 Mortgages 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 15

16 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Trade receivables 4.5 8.0 1.4 12.0 6.8 2.7 -1.1 7.1 4.9 16.3 17

18 Miscellaneous assets 4.7 11.0 2.1 15.1 9.3 -3.2 9.4 5.0 16.1 19.2 18

19 Insurance receivables 5.5 6.6 -5.1 0.4 5.6 -3.7 5.0 -0.9 2.6 2.0 19

20 Equity investment in GSEs (3) -0.3 -0.6 -0.5 0.1 -0.7 -0.2 0.2 -0.1 0.3 0.2 20

21 Other -0.5 4.9 7.6 14.6 4.4 0.8 4.2 6.0 13.2 17.0 21

22 Net increase in liabilities 88.2 72.6 32.5 81.5 46.8 22.9 7.5 28.6 33.9 89.1 22

23 Credit market instruments 70.4 67.2 58.0 84.1 48.4 0.3 -26.2 -26.4 -20.7 14.4 23

24 Depository institution loans n.e.c. 2.1 0.6 8.7 9.3 12.8 4.0 0.1 2.7 4.4 15.3 24

25 Other loans and advances -2.0 -0.8 1.8 -0.6 4.2 1.1 1.0 0.8 -2.9 3.7 25

26 Mortgages 70.3 67.4 47.5 75.4 31.4 -4.7 -27.3 -30.0 -22.1 -4.6 26

27 Trade payables -1.3 -2.1 5.1 7.1 2.5 -0.1 -1.0 6.3 1.5 7.4 27

28 Taxes payable 3.4 1.7 0.6 2.9 4.7 0.6 0.5 0.6 -1.7 1.4 28

29 Miscellaneous liabilities 29.8 9.6 -5.8 18.2 22.2 -2.6 3.6 14.0 5.1 16.1 29

30 Proprietors’ net investment -14.2 -3.7 -25.3 -30.7 -31.1 24.6 30.6 34.2 49.7 49.7 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.
FFA, 1985-1994, December 6, 2012 13

F.104 State and Local Governments (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 521.1 561.6 590.6 635.5 687.5 738.0 789.4 846.2 888.2 944.8 1

 2 Personal current taxes 81.4 87.2 96.6 102.1 114.6 122.6 125.3 135.3 141.1 148.0 2

 3 Taxes on production and imports 262.1 279.7 301.6 324.6 349.1 374.1 395.3 420.1 436.8 466.3 3

 4 Taxes on corporate income 20.2 22.7 23.9 26.0 24.2 22.5 23.6 24.4 26.9 30.0 4

 5 Contributions for govt. social insurance 4.9 6.0 7.2 8.4 9.0 10.0 11.6 13.1 14.1 14.5 5

 6 Income receipts on assets 54.8 58.4 58.2 60.5 65.7 68.5 68.0 64.8 61.3 63.3 6

 7 Current transfer receipts 94.5 105.0 100.0 109.0 118.1 133.5 158.2 180.3 198.1 212.3 7

 8 Current surplus of government enterprises 3.2 2.8 3.1 4.8 6.7 6.9 7.3 8.3 9.9 10.5 8

 9 Current expenditures, NIPA basis 498.7 540.9 578.6 618.3 667.4 731.8 795.2 847.6 889.1 936.6 9

10 Consumption expenditures 381.8 418.1 441.4 471.0 504.5 547.0 577.5 606.2 634.2 668.2 10

11 Govt. social benefit payments to persons 77.3 84.3 90.7 98.5 109.3 127.7 156.5 180.0 195.2 206.7 11

12 Interest payments 39.4 38.2 46.2 48.4 53.2 56.8 60.8 61.0 59.4 61.4 12

13 Subsidies 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.3 13

14 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Net saving, NIPA basis 22.4 20.7 12.0 17.2 20.1 6.2 -5.8 -1.4 -0.9 8.2 15

16 + Consumption of fixed capital 44.6 47.8 51.4 54.8 58.5 63.0 66.9 69.9 73.8 78.1 16

17 - Net capital transfers paid (2) -22.0 -23.0 -22.3 -23.1 -23.4 -25.0 -25.8 -26.9 -28.2 -29.9 17

18 = Gross saving less net capital transfers paid 89.0 91.6 85.7 95.1 102.1 94.2 86.9 95.4 101.1 116.3 18

19 Gross investment 94.6 98.0 86.8 93.2 130.4 122.4 93.0 116.0 87.1 186.2 19

20 Fixed investment 84.4 92.8 98.5 106.3 114.7 127.2 132.1 134.3 135.7 143.0 20

21 Nonproduced nonfinancial assets 3.1 3.7 4.2 4.3 4.9 5.7 5.8 5.9 5.9 6.2 21

22 Net lending (+) or net borrowing (-) 7.1 1.5 -15.8 -17.4 10.8 -10.6 -44.9 -24.2 -54.5 37.0 22

23 Net acq. of financial assets 179.4 85.5 84.8 43.9 70.0 49.4 59.9 6.7 18.5 7.4 23

24 Checkable deposits and currency 1.1 2.5 -0.7 3.0 0.4 -1.3 6.5 1.2 2.0 1.8 24

25 Time and savings deposits 7.0 2.4 7.1 -2.0 -2.8 -3.0 -11.1 -6.1 -1.5 6.5 25

26 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 26

27 Security RPs 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 27

28 Credit market instruments 136.6 70.2 57.8 34.9 45.5 39.3 47.2 1.7 32.6 -55.0 28

29 Open market paper 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 29

30 Treasury securities 92.7 57.1 41.9 6.6 4.8 41.5 25.0 -17.4 29.6 -77.8 30

31 Agency- and GSE-backed securities 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 31

32 Municipal securities 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 32

33 Corporate and foreign bonds 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 33

34 Mortgages 9.8 11.8 8.7 4.0 6.3 5.3 3.5 -0.0 -5.4 2.2 34

35 Corporate equities 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 35

36 Mutual fund shares 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 36

37 Trade receivables 3.8 0.9 3.8 4.8 3.5 2.4 2.4 3.1 3.6 5.4 37

38 Taxes receivable 4.0 2.7 0.5 3.6 3.5 -0.5 1.8 -0.1 -2.2 1.4 38

39 Miscellaneous assets 6.0 1.7 3.9 -0.5 1.4 1.5 3.6 -3.3 -34.3 48.6 39

40 Net increase in liabilities 172.3 84.0 100.6 61.3 59.2 60.0 104.8 30.9 73.0 -29.5 40

41 Credit market instruments 163.6 74.2 90.4 50.4 47.4 47.1 91.2 16.5 57.9 -45.5 41

42 Municipal securities 155.4 72.8 92.8 53.7 47.6 46.2 90.8 16.6 58.7 -45.9 42

43 Short-term (3) 2.2 -0.1 -0.8 2.0 3.3 2.9 6.9 -1.1 1.8 -2.2 43

44 Long-term 153.2 72.9 93.6 51.7 44.3 43.2 83.9 17.7 56.9 -43.8 44

45 U.S. government loans 8.2 1.4 -2.4 -3.3 -0.2 0.9 0.4 -0.1 -0.7 0.4 45

46 Trade payables 8.7 9.8 10.2 10.9 11.8 12.9 13.7 14.4 15.1 16.0 46

47 Discrepancy -5.6 -6.4 -1.0 1.9 -28.3 -28.2 -6.1 -20.7 14.0 -70.0 47

(1) Data for retirement funds are shown in table F.117.

(2) Table F.9, line 62.

(3) Debt with original maturity of 13 months or less.
14 FFA, 1985-1994, December 6, 2012

F.105 Federal Government

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 774.4 816.0 896.5 958.5 1038.0 1082.8 1101.9 1148.0 1224.1 1322.1 1

 2 Personal current taxes 336.0 350.0 392.5 402.8 451.5 470.1 461.3 475.2 505.5 542.5 2

 3 Taxes on production and imports 46.1 43.7 45.9 49.8 49.7 50.9 61.8 63.3 66.4 79.0 3

 4 Taxes on corporate income 76.3 83.8 103.2 111.1 117.2 118.1 109.9 118.8 138.5 156.7 4

 5 Taxes from the rest of the world 1.9 1.7 2.0 2.4 2.7 3.0 2.6 2.6 2.7 3.1 5

 6 Contributions for govt. social insurance 277.9 298.9 317.4 354.8 378.0 402.0 420.6 444.0 465.5 496.2 6

 7 Income receipts on assets 29.1 31.3 27.5 29.4 28.0 29.6 29.1 24.8 25.5 22.7 7

 8 Current transfer receipts 9.7 8.5 11.0 10.5 12.7 14.2 18.2 19.4 21.3 22.8 8

 9 Current surplus of government enterprises -2.6 -1.9 -3.0 -2.3 -1.7 -5.3 -1.6 -0.0 -1.3 -0.9 9

10 Current expenditures, NIPA basis 953.0 1010.7 1045.9 1096.9 1172.0 1259.2 1320.3 1450.5 1504.3 1542.5 10

11 Consumption expenditures 338.3 358.0 373.7 381.7 398.5 419.0 438.3 444.1 441.2 440.7 11

12 Government social benefits 329.4 348.1 360.9 381.9 415.2 451.2 498.0 555.7 587.7 613.3 12

13 Other current transfer payments 94.6 101.8 96.6 104.8 111.9 125.0 106.0 169.7 185.7 195.0 13

14 Interest payments 169.4 178.2 184.6 199.3 219.3 237.5 250.9 251.3 253.4 261.3 14

15 Subsidies 21.0 24.6 30.0 29.2 27.1 26.6 27.1 29.7 36.3 32.2 15

16 - Wage accruals less disbursements -0.2 0.0 0.0 0.0 0.0 0.1 -0.1 0.0 0.0 0.0 16

17 Net saving, NIPA basis -178.6 -194.6 -149.3 -138.4 -133.9 -176.4 -218.4 -302.5 -280.2 -220.4 17

18 + Consumption of fixed capital 48.0 51.6 55.2 59.1 63.3 67.7 72.0 74.6 77.8 80.1 18

19 - Insurance and pension reserves (1) 2.2 3.0 1.8 2.1 2.1 1.8 2.4 2.4 1.7 1.6 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 1.4 1.5 1.5 1.7 1.7 2.0 2.1 2.1 2.2 2.5 20

21 - Net capital transfers paid (2) 13.2 13.1 11.9 12.1 11.3 16.6 15.5 11.3 11.4 10.9 21

22 = Gross saving less net capital transfers paid -147.4 -160.6 -109.4 -95.3 -85.7 -129.1 -166.4 -243.7 -217.7 -155.3 22

23 Gross investment -173.3 -181.7 -106.5 -132.5 -119.0 -106.5 -178.3 -274.4 -227.9 -158.1 23

24 Fixed investment 74.4 80.4 85.8 79.8 83.0 88.5 88.2 88.8 83.8 77.9 24

25 Nonproduced nonfinancial assets -1.1 -3.0 -0.4 -0.1 -0.7 -0.7 0.2 0.2 0.2 0.2 25

26 Net lending (+) or net borrowing (-) -246.6 -259.1 -191.9 -212.2 -201.3 -194.3 -266.7 -363.4 -311.9 -236.1 26

27 Net acq. of financial assets 31.8 6.0 -18.0 -5.0 9.6 66.7 59.9 -22.9 -13.2 -37.0 27

28 U.S. official reserve assets 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 28

29 Checkable deposits and currency 13.0 0.4 -8.1 9.0 -14.2 4.8 27.4 -16.9 20.7 -21.7 29

30 Time and savings deposits 0.0 0.2 0.2 -0.2 -0.1 0.1 0.1 -0.7 -0.1 -0.1 30

31 Credit market instruments 17.8 9.7 -7.9 -9.5 -3.0 33.6 10.5 -11.9 -25.6 -5.6 31

32 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 32

33 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

34 Other loans and advances 15.9 9.2 -2.6 -8.4 -2.3 -1.9 -4.9 -0.0 -10.5 1.9 34

35 Mortgages 1.8 0.5 -5.3 -1.1 -0.7 35.6 15.4 -11.9 -15.4 -14.0 35

36 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.5 36

37 Corporate equities (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 Trade receivables 3.7 -2.3 8.0 0.1 3.2 -1.7 -4.6 -6.7 -2.4 -3.8 38

39 Taxes receivable -6.0 -1.7 -6.2 -6.8 -4.3 -5.2 -7.0 -0.4 -3.1 -6.3 39

40 Miscellaneous assets 1.4 0.5 1.3 1.0 15.4 34.3 36.1 15.4 -3.8 3.2 40

41 Net increase in liabilities 278.4 265.1 173.9 207.2 210.9 261.0 326.6 340.5 298.7 199.1 41

42 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

43 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 43

44 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 44

45 Credit market instruments 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 45

46 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 46

47 Treasury bills 25.5 26.8 -37.2 24.5 16.7 96.8 63.0 67.3 57.0 19.1 47

48 Other Treasury securities 195.0 175.3 171.8 104.8 119.9 133.5 217.1 217.3 176.7 128.6 48

49 Budget agency securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 49

50 Multifamily residential mortgages -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 50

51 Trade payables 10.6 14.6 7.5 8.0 8.6 -5.8 -5.5 -2.8 3.0 -0.2 51

52 Insurance reserves 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 52

53 Miscellaneous liabilities (5) 40.5 32.7 20.9 42.4 50.7 16.3 52.7 39.7 37.8 41.5 53

54 Nonmarketable securities held by pension plans 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 54

55 Other 0.6 3.2 -9.4 9.6 16.2 -17.1 14.3 -0.1 0.7 3.9 55

56 Discrepancy 25.9 21.1 -2.9 37.2 33.3 -22.5 11.9 30.7 10.2 2.8 56

 Memo:

57 Change in cash balance (6) 14.4 -0.0 -7.9 10.4 -5.9 8.3 14.5 -16.9 19.2 -26.7 57

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

(2) Table F.9, line 61 less line 12.

(3) Includes loans originated by the Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that

 the government purchased from depository institutions and finance companies.

(4) Corporate equities purchased from financial businesses under the Troubled Asset Relief Program (TARP) and from GSEs at issuance price.

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

 retirement fund, and foreign service retirement and disability fund.

(6) Time and savings deposits (line 30) plus checkable deposit and currency liabilities of the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
FFA, 1985-1994, December 6, 2012 15

F.106 Rest of the World

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Foreign income from U.S. 528.8 574.0 640.7 711.2 772.7 815.5 756.9 832.4 889.4 1019.5 1

 2 U.S. imports 417.2 452.9 508.7 554.0 591.0 629.7 623.5 667.8 720.0 813.4 2

 3 U.S. income payments to rest of world 85.9 93.4 105.2 128.3 151.2 154.1 138.2 122.7 124.0 160.0 3

 4 Current taxes and trans. payments to rest of world 25.7 27.8 26.8 29.0 30.4 31.7 -4.9 41.9 45.4 46.1 4

 5 Foreign outlays to U.S. 414.5 431.3 486.6 595.5 680.3 740.6 764.7 786.8 810.8 904.8 5

 6 U.S. exports 302.0 320.3 363.8 443.9 503.1 552.1 596.6 635.0 655.6 720.7 6

 7 U.S. income receipts from rest of world 112.4 111.0 122.8 151.6 177.2 188.5 168.1 151.8 155.2 184.1 7

 8 - Net capital transfers paid (1) -0.1 -0.1 -0.1 -0.1 -0.3 -7.4 -5.3 1.3 -0.8 -1.2 8

 9 Gross saving less net capital transfers paid (2) 114.5 142.8 154.2 115.9 92.7 82.3 -2.6 44.3 79.4 116.0 9

10 Gross investment 99.5 116.6 167.8 138.3 47.2 50.9 38.7 95.4 78.4 123.1 10

11 Nonproduced nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 11

12 Net lending (+) or net borrowing (-) 99.5 116.6 167.8 138.3 47.2 50.9 38.7 95.4 78.5 123.1 12

13 Net acquisition of financial assets 122.8 168.8 211.0 191.7 189.8 156.3 93.9 201.7 318.4 302.7 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 14

15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Net interbank assets 17.1 14.4 51.2 4.2 -9.0 25.2 -14.2 44.5 47.9 100.6 16

17 U.S. checkable deposits and currency 4.8 5.1 2.5 3.6 3.9 16.3 11.4 12.6 16.4 22.4 17

18 U.S. time deposits 3.2 -2.5 0.9 3.4 4.7 -0.7 -0.2 -4.1 6.8 1.5 18

19 Money market fund shares 0.0 0.0 0.0 0.0 0.4 0.8 0.8 0.8 0.8 0.8 19

20 Security RPs (net) 0.8 3.4 2.2 -0.1 10.1 -3.4 1.2 20.9 16.9 -12.0 20

21 Credit market instruments 67.4 105.7 60.9 108.3 82.9 87.3 15.5 97.2 129.3 132.3 21

22 Open market paper -0.2 -0.1 1.0 2.8 2.4 -2.0 0.6 1.6 5.9 6.0 22

23 Treasury securities 19.6 38.2 35.6 62.0 29.8 27.0 33.7 55.6 73.3 65.0 23

24 Official -0.8 34.4 43.2 41.7 0.1 29.6 14.8 18.5 49.0 30.8 24

25 Private 20.4 3.8 -7.6 20.2 29.6 -2.5 18.8 37.1 24.4 34.3 25

26 Agency- and GSE-backed securities 4.3 7.0 5.0 6.7 15.1 6.3 10.2 18.3 35.4 21.7 26

27 Official -0.3 -1.2 1.6 1.3 1.4 0.7 1.3 3.9 4.1 6.1 27

28 Private 4.6 8.2 3.5 5.4 13.7 5.6 8.9 14.3 31.3 15.6 28

29 Municipal securities 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 29

30 U.S. corporate bonds (4) 36.1 38.9 18.6 14.7 13.1 5.8 18.2 16.6 30.2 37.8 30

31 Loans to U.S. corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 31

32 U.S. corporate equities 4.4 17.9 15.0 -2.9 8.6 -16.7 3.8 -17.5 10.4 -11.5 32

33 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 5.9 11.1 9.8 11.6 33

34 Trade receivables 0.2 1.4 0.1 2.1 2.6 6.3 -1.8 1.7 1.0 1.5 34

35 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Miscellaneous assets 24.8 23.4 78.2 73.1 85.7 41.2 71.6 34.6 79.2 55.4 36

37 Foreign direct investment in U.S. (5) 19.7 35.4 58.5 57.7 68.3 48.5 23.2 19.8 51.4 46.1 37

38 Other 5.0 -12.1 19.7 15.3 17.4 -7.3 48.4 14.8 27.8 9.3 38

39 Net increase in liabilities 23.3 52.2 43.2 53.4 142.7 105.4 55.2 106.3 239.9 179.5 39

40 U.S. official reserve assets 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 40

41 U.S. private deposits 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 41

42 Credit market instruments 1.2 9.7 6.3 7.4 10.2 23.9 15.1 24.1 69.8 -11.2 42

43 Commercial paper 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 43

44 Bonds 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 44

45 Depository institution loans n.e.c. -2.8 -1.0 -3.6 -1.8 -0.1 -2.9 3.1 2.3 0.7 1.4 45

46 Official -1.4 -0.0 -0.9 -0.5 -1.4 -0.5 -0.4 1.0 -1.0 -0.2 46

47 Banks -1.3 1.0 -2.9 0.0 0.7 -2.7 1.0 0.7 1.2 0.0 47

48 Other -0.1 -2.1 0.2 -1.3 0.5 0.4 2.5 0.6 0.5 1.6 48

49 Other loans and advances -6.0 -3.9 -1.4 -6.4 -7.6 -7.0 -9.8 -0.6 -4.2 -1.4 49

50 Foreign corporate equities (6) 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 50

51 Trade payables -0.2 -0.8 2.5 7.7 2.8 -1.2 3.1 1.4 4.1 3.6 51

52 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

53 Miscellaneous liabilities 7.6 14.8 37.1 18.6 58.1 45.2 38.6 55.7 119.8 91.5 53

54 U.S. equity in IBRD, etc. 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 54

55 Nonofficial foreign currencies -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 55

56 U.S. direct investment abroad (4,5) 14.8 19.1 31.2 16.1 38.8 32.8 39.1 44.5 84.0 80.2 56

57 Investment by holding companies 0.5 -1.3 -3.5 -1.7 -1.8 -0.4 5.7 -5.8 2.3 7.8 57

58 Other -9.1 -3.5 8.0 3.2 20.0 11.4 -8.7 15.6 32.1 1.9 58

59 Discrepancy (FOF basis) (7) 15.0 26.2 -13.6 -22.4 45.5 31.4 -41.3 -51.1 0.9 -7.1 59

 Memo:

60 Net U.S. exports, NIPA basis -115.2 -132.5 -144.9 -110.1 -87.9 -77.6 -27.0 -32.8 -64.4 -92.7 60

61 + Net U.S. income receipts (8) 26.5 17.6 17.7 23.4 25.9 34.4 29.9 29.1 31.2 24.1 61

62 - Current taxes and trans. payments to rest of world 25.7 27.8 26.8 29.0 30.4 31.7 -4.9 41.9 45.4 46.1 62

63 = Balance on current account, NIPAs -114.3 -142.7 -154.1 -115.7 -92.4 -74.9 7.9 -45.6 -78.6 -114.7 63

(1) Table F.9, line 64.

(2) Line 1 minus line 5 minus line 8; equals net lending or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 63 with the sign reversed minus line 8.

(3) U.S. net sales, sign reversed.

(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.

(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Balance of payments discrepancy adjusted to NIPA concepts.

(8) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
16 FFA, 1985-1994, December 6, 2012

F.107 Financial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid 31.1 37.3 46.3 58.8 60.0 70.5 93.1 96.8 94.3 79.6 1

 2 Gross investment 53.3 72.4 106.0 97.9 123.3 87.9 135.9 76.9 143.6 134.5 2

 3 Capital expenditures 57.7 61.8 74.1 81.6 90.8 88.3 80.6 82.5 93.1 102.5 3

 4 Fixed residential investment 0.1 0.2 0.2 0.1 0.1 0.2 0.2 2.6 5.2 7.3 4

 5 Fixed nonresidential investment 57.5 61.5 73.9 81.4 90.7 88.2 80.4 79.9 87.9 95.3 5

 6 Net lending (+) or net borrowing (-) -4.4 10.6 31.9 16.4 32.5 -0.4 55.3 -5.6 50.5 32.0 6

 7 Net acqisition of financial assets 1064.0 1218.0 911.2 930.4 967.5 650.3 820.4 911.2 1345.0 1230.8 7

 8 U.S. official reserve assets 2.0 0.4 -3.8 2.5 12.6 1.3 -3.2 -2.2 0.4 -2.6 8

 9 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 9

10 Treasury currency 0.6 0.5 0.6 0.6 0.8 0.8 0.6 0.4 0.6 0.9 10

11 Foreign deposits -2.2 3.1 -0.6 7.9 -3.2 0.6 -5.3 -1.2 -10.3 5.7 11

12 Net interbank assets 7.7 18.4 -5.3 -0.9 -1.8 5.1 -9.7 3.9 0.7 -0.2 12

13 Checkable deposits and currency 7.5 5.8 0.2 6.0 -1.2 14.0 -12.2 0.4 6.1 0.3 13

14 Time and savings deposits 3.9 10.8 -2.3 12.9 40.1 -40.4 20.4 -20.2 -3.8 3.2 14

15 Money market fund shares 8.4 5.8 1.5 7.5 10.7 19.3 17.4 30.1 22.2 18.6 15

16 Federal funds and security RPs 23.3 25.7 -2.9 13.3 37.8 30.1 22.6 5.8 2.3 41.1 16

17 Credit market instruments 769.5 959.6 725.1 694.7 674.3 529.6 461.4 617.7 803.8 672.7 17

18 Open market paper 61.4 27.2 27.1 35.3 67.6 24.9 -15.3 9.9 -29.5 21.2 18

19 Treasury securities 97.0 121.5 40.9 -6.1 43.2 86.7 202.8 164.3 107.1 -8.1 19

20 Agency- and GSE-backed securities 73.6 174.3 151.9 85.7 80.8 151.6 101.9 120.9 183.9 147.7 20

21 Municipal securities 100.6 44.2 -8.3 0.9 5.6 20.8 18.4 51.6 86.5 9.1 21

22 Corporate and foreign bonds 57.8 149.6 112.1 158.3 99.1 69.1 116.7 150.1 236.5 83.5 22

23 Depository institution loans n.e.c. 47.1 78.2 2.5 44.7 38.8 -8.4 -40.9 -21.2 -6.5 62.5 23

24 Other loans and advances 18.3 28.8 64.9 45.4 18.2 -8.1 -43.3 7.1 15.1 59.1 24

25 Mortgages 233.9 284.5 308.8 290.8 277.1 181.2 125.6 128.7 156.5 178.7 25

26 Consumer credit 79.9 51.3 25.3 39.8 43.9 11.8 -4.7 6.4 54.1 119.1 26

27 Corporate equities 55.3 35.3 65.4 18.8 -2.9 16.9 121.3 88.9 243.2 168.3 27

28 Mutual fund shares 3.1 10.1 3.8 2.7 0.2 19.7 20.2 36.5 42.8 75.6 28

29 Trade receivables 3.1 5.8 5.4 8.5 4.7 10.7 5.9 4.2 4.2 9.1 29

30 Security credit 29.8 0.9 -21.6 1.2 3.3 -5.7 26.9 15.4 35.3 -6.8 30

31 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Miscellaneous assets 151.8 135.4 145.7 154.4 188.6 47.0 154.1 133.5 197.2 244.9 32

33 Net increase in liabilities 1068.4 1207.3 879.4 914.0 935.0 650.8 765.1 916.8 1294.5 1198.8 33

34 Net interbank liabilities 25.8 24.0 41.6 4.4 -10.7 27.6 -3.0 42.7 54.9 105.5 34

35 Checkable deposits and currency 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 35

36 Time and savings deposits 157.5 133.6 126.4 175.9 115.8 -2.2 -56.9 -130.4 -93.9 -17.8 36

37 Money market fund shares 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 37

38 Federal funds and security RPs 26.9 50.2 -8.8 21.1 70.8 -23.7 -9.1 39.0 70.0 75.4 38

39 Credit market instruments 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 39

40 Open market paper 32.0 24.2 26.9 54.8 31.3 8.6 -32.3 -1.1 -5.5 40.5 40

41 Agency- and GSE-backed securities 99.5 179.5 168.0 120.8 149.5 167.5 145.8 156.3 165.3 292.2 41

42 Corporate and foreign bonds 56.5 92.3 78.6 52.2 40.8 54.5 72.0 83.0 120.2 115.5 42

43 Depository institution loans n.e.c. -1.1 13.7 -7.1 2.3 13.2 0.6 4.4 -1.6 -13.0 -11.3 43

44 Other loans and advances 16.2 20.2 25.0 19.4 -10.5 -24.0 -37.3 -0.6 22.4 17.8 44

45 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 45

46 Corporate equities 10.5 14.7 14.9 22.9 3.6 6.7 22.3 40.2 51.1 9.9 46

47 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 47

48 Trade payables 2.5 -0.4 -0.8 1.7 -0.5 -1.9 0.7 0.6 2.7 -0.9 48

49 Security credit 24.5 3.2 -11.1 1.3 16.6 7.2 35.2 6.2 38.7 1.0 49

50 Life insurance reserves 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 50

51 Pension fund reserves 233.6 188.0 167.8 217.3 200.4 191.8 222.5 202.1 291.0 290.6 51

52 Taxes payable 1.1 1.5 -2.0 1.4 -0.6 1.5 1.0 0.2 2.1 -0.8 52

53 Equity in noncorporate business 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 53

54 Miscellaneous liabilities 191.8 117.1 147.3 131.2 164.2 46.4 110.1 144.8 118.9 109.1 54

55 Discrepancy -22.2 -35.1 -59.7 -39.1 -63.3 -17.5 -42.8 19.9 -49.2 -54.9 55

(1) Sum of financial sectors shown on tables F.108 through F.129.
FFA, 1985-1994, December 6, 2012 17

F.108 Monetary Authority (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving -1.4 -2.3 -2.0 0.3 -1.4 -2.2 -0.5 1.1 0.3 -2.2 1

 2 Fixed nonresidential investment 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.7 0.9 2

 3 Net acquisition of financial assets 24.9 31.9 10.8 19.0 9.8 27.6 22.3 17.1 42.1 28.2 3

 4 U.S. official reserve assets 2.0 0.4 -3.8 2.5 12.6 1.3 -3.2 -2.2 0.4 -2.6 4

 5 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 5

 6 Treasury currency 0.6 0.5 0.6 0.6 0.8 0.8 0.6 0.4 0.6 0.9 6

 7 Federal Reserve float (2) 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 7

 8 Interbank loans (2) -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 8

 9 Discount window (3) -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 9

10 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Security RPs 3.2 10.8 -11.0 1.9 -4.7 16.2 -2.5 -7.8 5.1 -2.6 11

12 Credit market instruments 18.4 19.4 21.0 14.8 -7.9 8.1 31.1 27.9 36.2 31.5 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 13

14 Treasury securities 18.6 19.8 21.3 14.8 -6.9 8.3 31.4 28.5 37.0 32.5 14

15 Treasury bills 14.4 18.4 3.9 5.1 -8.2 7.9 20.1 9.2 18.6 17.0 15

16 Other Treasury securities 4.2 1.5 17.4 9.7 1.3 0.4 11.3 19.4 18.4 15.5 16

17 Agency- and GSE-backed securities -0.2 -0.4 -0.3 0.0 -1.0 -0.2 -0.3 -0.6 -0.8 -1.0 17

18 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Other agency- and GSE-baked securities -0.2 -0.4 -0.3 0.0 -1.0 -0.2 -0.3 -0.6 -0.8 -1.0 19

20 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 22

23 Brokers and dealers (6) 0.0 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) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Funding corporations (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Funding corporations (Maiden Lane II) (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 Funding corporations (Maiden Lane III) (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Funding corporations (CPFF) (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Corporate equities (11) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Miscellaneous assets 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 30

31 Nonofficial foreign currencies (12) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Other 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 32

33 Net increase in liabilities 24.8 31.8 10.6 19.0 9.7 27.4 22.1 16.7 41.7 28.0 33

34 Depository institution reserves 6.8 19.5 -6.3 -2.4 -1.0 0.3 -9.2 2.7 2.9 -4.2 34

35 Vault cash of commercial banks 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 35

36 Checkable deposits and currency 16.6 13.3 16.7 17.6 10.2 24.2 30.7 16.2 37.2 25.8 36

37 Due to federal government 4.1 -1.9 -2.3 3.3 -2.4 2.8 8.8 -10.3 7.2 -7.7 37

38 Treasury cash holdings 0.0 -0.1 0.0 -0.1 0.1 0.1 0.1 -0.1 -0.1 -0.0 38

39 Treasury general deposit account 4.0 -1.8 -2.3 3.3 -2.4 2.7 8.7 -10.2 7.3 -7.6 39

40 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Due to rest of the world 0.1 -0.1 -0.1 0.1 0.2 -0.2 0.6 -0.7 0.2 -0.1 41

42 Due to government-sponsored enterprises 0.0 0.9 0.1 -0.5 0.7 -1.1 1.5 -1.4 0.0 0.5 42

43 Currency outside banks 12.4 14.4 19.0 14.8 11.7 22.6 19.8 28.7 29.8 33.1 43

44 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

45 Miscellaneous liabilities 0.1 -1.1 1.0 1.1 -0.6 -1.0 -0.3 -0.4 0.9 0.9 45

46 Federal Reserve Bank stock 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 46

47 Other -0.1 -1.2 0.8 1.0 -0.8 -1.2 -0.6 -0.8 0.6 0.6 47

48 Discrepancy -1.8 -2.6 -2.4 0.0 -1.8 -2.6 -1.0 0.4 -0.8 -3.4 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.
18 FFA, 1985-1994, December 6, 2012

F.109 Private Depository Institutions (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid (2) 16.7 22.3 26.7 21.9 25.6 27.2 40.7 65.7 32.5 29.0 1

 2 Fixed nonresidential investment 19.0 19.9 20.5 23.5 24.8 23.4 20.7 24.8 18.8 19.2 2

 3 Net lending (+) or net borrowing (-) -11.6 3.8 17.1 -23.5 -7.7 -11.0 21.5 9.0 38.3 40.6 3

 4 Net acquisition of financial assets 320.2 344.2 276.2 300.9 162.7 -29.7 -50.0 87.4 191.5 281.3 4

 5 Vault cash 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 5

 6 Reserves at Federal Reserve 6.8 19.5 -6.3 -2.4 -1.0 0.3 -9.2 2.7 2.9 -4.2 6

 7 Credit market instruments 272.6 307.9 268.3 274.4 83.7 -26.3 -63.1 28.5 140.9 196.5 7

 8 Open market paper -3.0 1.2 1.3 0.1 -0.7 4.0 -1.2 -1.8 -2.9 -1.8 8

 9 Treasury securities 4.8 13.8 9.3 -16.1 -30.5 2.5 64.7 71.7 25.5 -32.7 9

10 Agency- and GSE-backed securities -0.7 86.1 72.8 49.0 5.7 39.7 15.0 50.0 55.7 21.0 10

11 Municipal securities 57.8 -28.7 -29.1 -22.5 -18.0 -16.0 -14.8 -6.1 1.7 -1.7 11

12 Corporate and foreign bonds 9.2 30.8 32.3 27.0 -10.9 -8.8 5.2 5.4 10.9 2.0 12

13 Depository institution loans n.e.c. 47.1 78.2 2.5 44.7 38.8 -8.4 -40.9 -21.2 -6.5 62.5 13

14 Other loans and advances -9.5 -5.6 5.4 -2.3 -2.1 -9.8 -10.2 -3.6 -6.4 -2.4 14

15 Mortgages 108.9 100.8 153.5 159.1 79.8 -15.1 -60.1 -55.2 19.7 67.9 15

16 Consumer credit 57.9 31.3 20.3 35.5 21.6 -14.3 -20.6 -10.7 43.2 81.6 16

17 Corporate equities 0.0 2.1 1.3 2.0 0.3 -5.1 0.6 -0.1 2.5 -3.1 17

18 Mutual fund shares 0.0 0.0 -0.0 -0.4 -0.3 -0.1 3.0 1.1 0.7 -3.5 18

19 Security credit 11.0 -5.8 -5.3 -0.5 4.3 -2.0 10.6 16.9 12.7 -5.7 19

20 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Miscellaneous assets 28.6 20.3 19.0 25.0 74.6 -0.5 7.1 40.0 31.0 95.9 21

22 Net increase in liabilities 331.8 340.4 259.1 324.4 170.4 -18.7 -71.5 78.4 153.2 240.8 22

23 Net interbank liabilities 17.7 4.4 48.8 4.2 -10.8 23.4 5.2 41.7 51.2 104.2 23

24 Checkable deposits 67.2 112.1 -12.8 24.6 -3.2 18.4 57.1 95.9 80.2 -37.6 24

25 Small time and savings deposits 140.4 130.0 76.6 122.7 98.9 63.9 1.6 -57.2 -70.4 -37.4 25

26 Large time deposits 17.1 3.6 49.8 53.2 16.9 -66.1 -58.5 -73.2 -23.5 19.6 26

27 Federal funds and security RPs (net) 28.7 38.4 40.9 34.2 -15.4 -40.5 -34.9 13.0 48.0 93.7 27

28 Credit market instruments 14.9 21.9 36.4 18.3 -15.3 -30.6 -54.7 0.8 16.5 22.0 28

29 Open market paper -9.4 -5.9 5.6 -2.7 -4.2 -5.3 -14.3 -3.9 -7.7 -2.9 29

30 Corporate bonds 9.1 7.1 5.0 1.6 -0.6 -1.4 -3.2 5.2 2.1 2.6 30

31 Other loans and advances 15.2 20.6 25.8 19.4 -10.5 -23.9 -37.3 -0.6 22.1 22.3 31

32 Corporate equity issues 1.4 1.4 1.5 2.5 1.5 2.1 0.9 4.3 1.9 1.8 32

33 Taxes payable (net) 0.2 0.3 -2.4 0.2 -1.3 -0.1 -1.4 -0.2 -2.9 -2.0 33

34 Miscellaneous liabilities 44.3 28.3 20.3 64.5 99.1 10.7 13.1 53.2 52.2 76.5 34

35 Foreign direct investment in U.S. 1.4 1.6 1.7 2.7 2.3 0.9 2.6 2.7 2.2 3.4 35

36 Investment by holding companies 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 36

37 Investment by funding corporations 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 37

38 Other 25.5 4.6 -11.8 25.9 83.8 -5.8 -3.6 9.8 26.5 58.0 38

39 Discrepancy 9.3 -1.3 -10.9 21.9 8.5 14.8 -1.5 31.8 -24.6 -30.8 39

 Memo:

40 Consumer leases not included above (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

(1) U.S.-chartered depository institutions (F.110), foreign banking offices (F.111), banks in U.S.-affiliated areas (F.112), and credit unions (F.113).

(2) Net capital transfers paid from table F.9, line 54.

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
FFA, 1985-1994, December 6, 2012 19

F.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid (1) 14.6 20.8 24.8 19.6 22.8 24.6 37.0 59.2 25.2 21.6 1

 2 Fixed nonresidential investment 17.1 17.8 18.3 20.9 21.9 21.3 18.7 22.0 16.1 16.0 2

 3 Net acquisition of financial assets 281.0 284.8 211.0 251.4 58.8 -55.1 -137.6 -3.6 132.4 206.4 3

 4 Vault cash 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 4

 5 Reserves at Federal Reserve 6.1 18.9 -5.9 -1.3 -1.0 0.2 -9.0 3.0 2.5 -4.1 5

 6 Credit market instruments 240.0 256.6 216.7 226.8 48.2 -69.9 -122.5 -9.5 126.9 153.8 6

 7 Open market paper -3.4 0.8 0.4 0.2 -1.3 0.8 -0.4 -2.3 -1.3 -1.5 7

 8 Treasury securities 2.3 9.4 6.5 -19.6 -28.3 0.8 49.4 55.6 14.9 -28.1 8

 9 Agency- and GSE-backed securities -2.3 82.8 71.5 49.2 5.9 29.6 5.7 36.9 40.4 14.4 9

10 Residential mortgage pass-through securities -2.9 68.7 66.8 19.7 -9.6 0.9 -22.2 -1.1 20.5 19.3 10

11 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 23.3 34.6 33.3 11.1 -14.4 12

13 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Other 0.6 14.1 4.7 29.5 15.5 5.4 -6.7 4.7 8.8 9.5 14

15 Municipal securities 57.9 -28.7 -29.1 -22.5 -17.9 -16.0 -14.7 -6.0 2.0 -2.1 15

16 Corporate and foreign bonds 5.4 25.6 29.2 28.6 -12.0 -11.8 1.4 4.2 9.2 -3.0 16

17 Private residential mortgage pass-through securities -0.0 3.3 0.1 4.9 4.5 1.4 0.3 -0.4 4.7 -2.2 17

18 Private commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Private residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -6.6 -1.8 1.7 19

20 Private commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Other 5.4 22.3 29.1 23.6 -16.5 -13.2 0.6 11.2 6.3 -2.5 21

22 Depository institution loans n.e.c. 34.5 56.1 -14.6 23.8 24.7 -17.7 -66.2 -29.4 7.8 44.6 22

23 Other loans and advances -11.1 -7.3 -1.0 -3.1 -5.2 -4.1 -4.6 -0.1 -2.4 -0.2 23

24 Mortgages 105.1 89.6 137.5 142.2 64.1 -37.1 -73.7 -56.3 23.1 65.9 24

25 Consumer credit 51.8 28.3 16.3 28.1 18.3 -14.2 -19.3 -12.1 33.3 63.7 25

26 Corporate equities -0.1 2.1 1.4 2.0 0.3 -5.1 0.5 -0.0 2.5 -3.1 26

27 Mutual fund shares 0.0 0.0 0.0 0.0 -0.1 -0.3 1.8 -0.4 0.5 -1.9 27

28 Security credit 6.8 -5.9 -3.2 -0.4 4.2 -5.4 2.2 3.1 4.1 -4.6 28

29 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Miscellaneous assets 26.9 13.0 2.7 21.5 6.2 21.4 -11.7 2.0 -5.0 60.9 30

31 Net increase in liabilities 293.2 282.0 195.5 276.1 67.3 -43.1 -157.5 -9.7 97.9 167.3 31

32 Net interbank liabilities 12.1 -3.7 33.4 -3.6 -18.0 15.4 8.2 10.5 32.8 84.4 32

33 Federal Reserve float 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 33

34 Borrowing from Federal Reserve banks -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 34

35 To domestic banking 2.0 0.1 3.3 -4.9 -10.8 -2.8 18.2 12.3 17.1 11.1 35

36 To foreign banks 10.5 -2.6 28.3 2.4 -5.4 17.4 -8.6 -4.8 18.7 74.8 36

37 Checkable deposits 61.6 110.3 -13.8 22.6 -4.7 17.3 54.9 91.4 78.1 -40.1 37

38 Federal government 10.3 1.7 -5.8 7.3 -3.4 5.3 5.5 -5.9 12.1 -18.9 38

39 Rest of the world 0.0 2.7 -1.4 -0.6 0.1 -0.4 -2.2 1.7 -0.3 1.6 39

40 Private domestic 51.4 106.0 -6.5 15.8 -1.4 12.3 51.6 95.6 66.3 -22.8 40

41 Small time and savings deposits 119.5 101.1 64.8 110.6 90.5 48.4 -14.8 -73.4 -79.1 -42.5 41

42 Large time deposits 16.6 -5.1 45.8 46.2 8.8 -62.3 -108.4 -84.1 -23.6 15.8 42

43 Federal funds and security RPs (net) 28.0 32.5 41.0 29.9 -14.5 -46.8 -45.0 12.7 47.2 84.7 43

44 Credit market instruments 13.4 19.1 29.8 17.8 -16.3 -29.7 -45.1 4.5 21.5 24.4 44

45 Open market paper -10.9 -8.7 -1.0 -3.3 -5.3 -4.4 -4.7 -0.1 -2.5 -0.3 45

46 Corporate bonds 9.1 7.1 5.0 1.6 -0.6 -1.4 -3.2 5.2 2.1 2.6 46

47 Other loans and advances 15.2 20.6 25.8 19.4 -10.5 -23.9 -37.3 -0.6 21.9 22.1 47

48 Corporate equity issues 1.4 1.4 1.5 2.5 1.5 2.1 0.9 4.3 1.9 1.8 48

49 Taxes payable (net) 0.2 0.3 -2.4 0.2 -1.3 -0.1 -1.4 -0.2 -2.9 -2.0 49

50 Miscellaneous liabilities 40.3 26.1 -4.5 50.0 21.5 12.6 -6.8 24.6 22.0 40.8 50

51 Investment by holding companies 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 51

52 Other 25.2 8.1 -27.7 27.0 11.1 -4.7 -21.3 -12.2 -8.0 25.3 52

53 Discrepancy 9.7 0.3 -9.0 23.5 9.4 15.2 -1.5 31.1 -25.5 -33.6 53

 Memo:

54 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

(1) Net capital transfers paid from table F.9, line 54.

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
20 FFA, 1985-1994, December 6, 2012

F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.6 0.7 0.8 0.9 1.1 0.9 1.0 1.3 1.7 1.9 1

 2 Fixed nonresidential investment 1.2 1.3 1.3 1.6 1.8 1.3 1.3 1.8 1.7 1.9 2

 3 Net acquisition of financial assets 22.7 42.2 49.2 30.2 93.3 7.9 71.5 65.1 33.6 48.6 3

 4 Reserves at Federal Reserve 0.7 0.6 -0.4 -1.1 -0.0 0.2 -0.3 -0.3 0.3 -0.0 4

 5 Credit market instruments 16.4 35.0 34.1 29.3 26.8 28.4 48.5 16.6 -10.1 11.3 5

 6 Open market paper 0.3 -0.2 1.2 -0.5 0.4 2.0 -1.0 0.2 -0.9 -0.2 6

 7 Treasury securities -0.0 2.1 -0.4 0.1 -0.2 5.0 9.4 8.7 6.5 -3.5 7

 8 Agency- and GSE-backed securities 0.5 1.5 1.2 1.1 0.3 1.9 4.0 2.9 7.4 1.5 8

 9 Municipal securities -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Corporate and foreign bonds 3.5 5.0 3.0 -0.7 1.1 2.9 3.7 1.0 1.4 5.1 10

11 Depository institution loans n.e.c. 10.5 21.9 17.3 20.4 14.0 6.9 29.3 10.0 -14.0 15.3 11

12 Other loans and advances 1.6 1.7 6.5 0.7 3.1 -5.7 -5.6 -3.6 -4.0 -2.1 12

13 Mortgages 0.1 2.9 5.2 8.1 8.1 15.3 8.8 -2.7 -6.5 -4.8 13

14 Corporate equities 0.1 0.0 -0.1 -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 14

15 Security credit 4.2 0.1 -2.1 -0.1 0.1 3.4 8.4 13.9 8.6 -1.2 15

16 Miscellaneous assets 1.2 6.5 17.7 2.1 66.5 -24.1 14.8 34.9 34.7 38.5 16

17 Net increase in liabilities 23.0 42.6 49.5 30.9 93.9 8.6 72.1 65.7 34.2 49.2 17

18 Net interbank liabilities 11.6 15.8 14.9 4.0 4.8 8.3 1.9 32.3 16.7 11.3 18

19 To foreign banks 6.6 17.0 22.9 1.8 -3.7 7.8 -5.6 49.3 29.2 25.8 19

20 To domestic banks 5.0 -1.2 -8.0 2.2 8.4 0.5 7.5 -17.0 -12.5 -14.5 20

21 Checkable deposits 2.1 0.9 -0.6 1.0 -0.3 0.4 0.2 -0.6 0.0 0.4 21

22 Small time and savings deposits 1.1 2.2 0.6 0.5 3.7 -1.0 -0.1 0.2 -0.8 -1.1 22

23 Large time deposits -0.2 7.6 3.8 6.3 4.4 -3.7 50.1 9.0 -0.8 2.6 23

24 Federal funds and security RPs (net) 4.5 8.4 -1.7 4.5 2.3 8.4 8.8 0.7 -4.3 6.7 24

25 Acceptance liabilities 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 25

26 Miscellaneous liabilities 2.4 4.8 25.8 14.0 78.0 -3.0 20.9 28.0 28.5 32.0 26

27 Foreign direct investment in U.S. 1.4 1.6 1.7 2.7 2.3 0.9 2.6 2.7 2.2 3.4 27

28 Investment by funding corporations 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 28

29 Other -1.3 -0.9 16.9 -1.5 73.1 -2.0 18.8 21.4 32.9 29.0 29

30 Discrepancy -0.3 -0.2 -0.2 -0.0 -0.1 0.2 0.4 0.1 0.7 0.6 30

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).
FFA, 1985-1994, December 6, 2012 21

F.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets 1.9 -1.1 -0.5 2.1 2.5 4.6 -2.4 3.1 2.0 3.2 3

 4 Credit market instruments 2.7 0.9 0.1 0.8 1.6 4.5 -1.9 3.7 2.4 3.3 4

 5 Treasury securities 0.1 0.5 0.0 0.2 0.4 0.3 0.3 1.5 1.5 -0.6 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.4 0.4 0.1 0.1 1.1 0.2 0.5 6

 7 Municipal securities 0.0 0.0 0.0 0.1 -0.0 0.0 -0.1 -0.0 -0.2 0.4 7

 8 Corporate and foreign bonds 0.4 0.1 0.0 -0.9 0.0 -0.0 0.1 0.2 0.2 -0.1 8

 9 Depository institution loans n.e.c. 2.1 0.2 -0.1 0.4 0.1 3.3 -3.0 0.2 -0.5 1.7 9

10 Home mortgages 0.1 0.1 0.1 0.2 0.2 0.2 -0.0 1.0 1.2 0.6 10

11 Commercial mortgages 0.1 0.1 0.1 0.4 0.5 0.7 0.7 -0.2 0.1 0.9 11

12 Miscellaneous assets -0.8 -2.1 -0.6 1.4 0.9 0.1 -0.5 -0.7 -0.4 -0.1 12

13 Net increase in liabilities 2.3 -1.3 -1.3 1.5 2.2 4.4 -3.1 2.5 1.3 3.5 13

14 Net interbank liabilities -0.4 0.1 0.8 0.6 0.4 0.1 0.8 0.5 0.3 -0.4 14

15 Checkable deposits 0.3 0.4 -0.0 0.3 0.5 -0.7 -0.2 0.6 0.3 0.1 15

16 Small time and savings deposits 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 16

17 Large time deposits 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 17

18 Miscellaneous liabilities 1.7 -2.8 -1.9 0.1 0.3 0.8 -1.6 0.6 1.1 2.3 18

19 Discrepancy 0.3 -0.2 -0.8 -0.7 -0.3 -0.3 -0.6 -0.6 -0.7 0.3 19

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

F.113 Credit Unions

Billions of dollars

 1 Gross saving 1.5 0.8 1.1 1.2 1.7 1.7 2.6 5.1 5.5 5.4 1

 2 Fixed nonresidential investment 0.7 0.7 0.8 0.9 1.1 0.7 0.7 1.0 0.9 1.1 2

 3 Net acquisition of financial assets 14.6 18.4 16.6 17.2 8.1 12.8 18.5 22.9 23.5 23.1 3

 4 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 13.4 15.5 17.5 17.5 7.1 10.6 12.8 17.7 21.7 28.1 5

 6 Open market paper 0.1 0.6 -0.3 0.4 0.3 1.2 0.3 0.4 -0.7 -0.1 6

 7 Treasury securities 2.4 1.8 3.2 3.3 -2.3 -3.6 5.5 5.9 2.6 -0.5 7

 8 Agency- and GSE-backed securities 1.1 1.8 0.0 -1.7 -0.9 8.2 5.2 9.1 7.7 4.5 8

 9 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 -0.9 -1.1 -1.9 0.2 0.9 10

11 Home mortgages 3.6 8.2 10.5 8.2 6.8 5.8 4.2 2.9 1.9 5.2 11

12 Consumer credit 6.1 3.1 4.0 7.3 3.3 -0.1 -1.3 1.4 9.9 18.0 12

13 Mutual fund shares 0.0 0.0 -0.0 -0.4 -0.1 0.2 1.2 1.5 0.1 -1.6 13

14 Miscellaneous assets 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 14

15 Net increase in liabilities 13.4 17.1 15.4 15.9 7.0 11.5 16.9 19.9 19.8 20.7 15

16 Net interbank liabilities -5.7 -7.8 -0.4 3.3 2.1 -0.4 -5.6 -1.5 1.4 8.9 16

17 Shares/deposits 22.9 27.2 13.3 12.4 8.6 13.8 20.5 21.6 12.6 7.9 17

18 Checkable 3.1 0.4 1.7 0.8 1.3 1.5 2.2 4.5 1.7 2.0 18

19 Small time and savings 19.4 26.1 11.4 11.3 4.2 14.4 17.5 15.5 9.8 5.5 19

20 Large time 0.3 0.7 0.3 0.4 3.1 -2.1 0.8 1.6 1.1 0.4 20

21 Federal funds and security RPs (net) -3.7 -2.5 1.6 -0.1 -3.1 -2.1 1.4 -0.4 5.1 2.3 21

22 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 22

23 Miscellaneous liabilities -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 23

24 Discrepancy -0.4 -1.1 -0.8 -0.9 -0.6 -0.4 0.2 1.1 0.9 1.9 24
22 FFA, 1985-1994, December 6, 2012

F.114 Property-Casualty Insurance Companies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid (1) -4.0 1.7 5.7 6.3 3.0 2.4 2.2 -18.9 3.0 -10.2 1

 2 Fixed nonresidential investment 4.8 5.0 5.1 5.5 6.8 7.6 7.4 8.8 7.9 10.0 2

 3 Net acquisition of financial assets 31.9 46.2 48.5 45.1 41.7 26.4 25.2 9.4 31.7 27.5 3

 4 Checkable deposits and currency 1.2 1.3 -0.1 -0.1 0.6 0.5 -1.1 0.2 -0.4 -0.2 4

 5 Money market fund shares 2.0 0.0 0.3 1.2 -0.0 1.1 -1.4 2.0 -0.3 -0.8 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments 28.6 39.5 40.1 30.9 28.7 28.5 27.4 10.4 27.1 23.4 7

 8 Open market paper 2.9 0.1 0.4 1.6 -0.0 1.6 -2.0 2.8 -0.4 -1.1 8

 9 Treasury securities 5.8 12.7 8.6 9.4 10.8 8.3 23.3 3.5 14.1 9.0 9

10 Agency- and GSE-backed securities 7.8 -0.6 0.1 0.2 3.4 5.9 9.7 -0.3 1.3 1.6 10

11 Municipal securities 3.8 13.3 23.0 8.9 0.1 1.8 -10.7 6.3 10.4 7.4 11

12 Corporate and foreign bonds 7.7 13.0 7.4 10.1 13.6 10.4 7.4 -1.2 3.3 7.2 12

13 Commercial mortgages 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 13

14 Corporate equities -2.0 -0.3 2.7 3.6 7.9 -7.0 -1.2 -0.4 0.8 0.8 14

15 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 15

16 Trade receivables 2.2 4.9 3.6 6.8 2.8 2.0 1.9 -0.1 1.7 2.2 16

17 Miscellaneous assets -0.1 0.7 1.8 2.7 1.6 1.4 -0.3 -2.7 2.8 1.7 17

18 Net increase in liabilities 38.9 45.2 41.0 29.5 31.7 23.3 13.6 20.4 21.5 12.4 18

19 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Corporate equity issues 1.5 2.2 -2.0 -2.1 -1.6 -3.8 -2.6 -1.0 3.6 -3.5 20

21 Taxes payable (net) 0.1 0.2 0.5 0.3 -0.7 0.7 0.7 -1.7 2.1 -0.4 21

22 Miscellaneous liabilities 37.3 42.7 42.4 31.3 34.0 26.5 15.5 23.1 15.8 16.4 22

23 Discrepancy -1.8 -4.3 -6.9 -14.9 -13.8 -8.4 -16.7 -16.7 -15.1 -35.3 23

(1) Net capital transfers paid from table F.9, line 51.

F.115 Life Insurance Companies

Billions of dollars

 1 Gross saving 0.5 -5.0 -8.0 0.2 -1.1 -2.7 1.0 -2.7 -5.2 6.0 1

 2 Fixed nonresidential investment 4.2 4.4 4.5 4.9 6.1 6.8 6.5 7.8 7.0 8.9 2

 3 Net acquisition of financial assets 90.6 104.7 101.2 113.7 114.1 112.1 110.6 97.7 142.5 126.2 3

 4 Checkable deposits and currency 0.5 0.7 -0.9 -0.3 0.5 -0.1 0.5 -0.6 0.4 0.4 4

 5 Money market fund shares 2.1 0.9 -3.1 0.1 -0.8 2.2 0.1 0.1 0.1 0.1 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments 76.5 87.9 88.6 103.1 100.1 107.2 80.8 79.5 100.4 72.0 7

 8 Open market paper -0.2 5.4 -0.4 5.1 3.6 2.9 0.0 -2.5 3.6 5.9 8

 9 Treasury securities 10.5 7.3 -2.0 1.4 -5.7 6.3 18.6 10.2 20.1 -2.9 9

10 Agency- and GSE-backed securities 12.5 10.6 7.0 8.6 25.0 20.3 42.4 27.7 27.6 11.3 10

11 Municipal securities 1.0 2.0 -1.0 -1.6 -0.1 3.3 -2.1 1.1 3.2 -1.9 11

12 Corporate and foreign bonds 37.8 40.8 66.9 68.4 52.8 56.5 25.4 55.0 58.3 59.9 12

13 Other loans and advances -0.1 -0.3 -0.4 0.6 3.2 4.1 4.8 5.7 5.7 7.8 13

14 Mortgages 15.1 22.0 18.5 20.5 21.4 13.6 -8.4 -17.5 -18.1 -8.1 14

15 Corporate equities 4.8 -2.1 5.7 -3.4 9.7 -5.7 17.0 12.4 41.1 42.5 15

16 Mutual fund shares 1.1 10.2 -2.2 5.7 -4.1 12.6 1.0 9.0 1.5 4.4 16

17 Miscellaneous assets 5.6 7.0 13.0 8.6 8.7 -4.1 11.2 -2.8 -1.0 6.8 17

18 Net increase in liabilities 80.4 100.5 94.9 104.8 103.3 109.0 96.6 103.7 124.4 118.4 18

19 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Corporate equity issues -0.1 0.6 -0.9 -0.1 -0.6 -1.4 -0.1 0.6 -0.8 -1.7 20

21 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 21

22 Life insurance reserves 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 22

23 Pension fund reserves (1) 55.6 63.4 30.9 69.2 52.3 79.7 38.8 82.4 81.4 45.5 23

24 Taxes payable (net) 0.4 0.7 0.2 0.5 0.9 0.5 1.1 1.4 1.6 1.0 24

25 Miscellaneous liabilities 14.0 18.6 38.8 10.3 22.3 4.9 31.2 -8.4 6.3 39.1 25

26 Discrepancy -13.9 -13.6 -18.9 -13.6 -17.9 -12.6 -19.5 -4.5 -30.4 -10.7 26

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 25).
FFA, 1985-1994, December 6, 2012 23

F.116 Private Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.3 0.4 1

 2 Fixed nonresidential investment 1.1 1.4 1.6 1.6 1.8 1.6 1.3 1.2 1.2 1.2 2

 3 Net acquisition of financial assets 83.6 25.8 35.8 67.4 60.4 26.2 90.6 12.3 104.1 140.5 3

 4 Checkable deposits and currency -0.0 -1.4 -0.2 2.9 -0.4 -0.8 -0.3 -0.0 0.2 0.9 4

 5 Time and savings deposits 8.6 10.4 -10.8 10.9 27.5 -4.2 5.5 -17.1 -3.4 6.7 5

 6 Money market fund shares 2.1 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 6

 7 Security RPs 8.3 1.7 -0.4 2.3 2.1 -1.3 3.7 0.2 0.9 -6.2 7

 8 Credit market instruments 23.1 4.6 13.6 22.0 51.6 43.5 25.4 26.0 36.2 39.7 8

 9 Open market paper 2.4 4.3 7.2 -6.1 -0.7 -0.4 3.3 -0.2 0.7 -6.2 9

10 Treasury securities 20.2 -15.7 0.2 -0.3 9.7 -0.1 -5.3 -8.5 -4.4 16.8 10

11 Agency- and GSE-backed securities 22.5 -8.0 13.1 14.4 23.8 22.6 12.9 10.5 14.2 40.9 11

12 Corporate and foreign bonds -26.2 26.8 -3.9 5.5 12.1 19.8 21.2 27.8 27.2 -6.6 12

13 Mortgages 4.3 -2.8 -3.1 8.5 6.6 1.6 -6.7 -3.7 -1.6 -5.2 13

14 Corporate equities 11.3 -12.9 0.1 6.8 -33.9 0.6 12.8 2.7 36.3 -3.1 14

15 Mutual fund shares 2.0 1.8 2.2 -0.5 5.1 6.6 11.2 22.2 34.6 55.3 15

16 Miscellaneous assets 28.2 19.7 29.5 21.1 5.5 -18.1 31.4 -22.5 -7.1 41.9 16

17 Unallocated insurance contracts (2) 0.0 13.9 33.5 1.9 12.3 9.6 20.8 -19.6 -6.9 30.6 17

18 Contributions receivable 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 18

19 Other 22.4 5.7 -5.5 20.5 -14.1 -33.8 -1.5 -12.9 -12.6 -0.4 19

20 Pension fund reserves (liabilities) (3) 84.5 27.0 37.1 68.5 61.8 27.3 91.5 13.1 105.0 141.2 20

 Memo:

 Net acquisition of financial assets (4)

21 Defined benefit plans 50.8 0.0 -6.0 22.3 23.9 -3.2 27.5 -25.4 44.2 71.3 21

22 Defined contibution plans 32.9 25.8 41.8 45.1 36.5 29.4 63.2 37.7 59.9 69.2 22

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

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

(3) Equal to the net acquisition of nonfinancial and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

(4) Additional detail on defined benefit plans and defined contribution plans is available on F.116.b and F.116.c.
24 FFA, 1985-1994, December 6, 2012

F.117 State and Local Government Employee Retirement Funds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.3 1

 2 Fixed nonresidential investment 0.3 0.4 0.5 0.6 0.6 0.8 0.8 1.0 1.3 0.8 2

 3 Net acquisition of financial assets 53.5 67.9 68.2 44.8 49.3 48.1 50.3 62.0 61.9 60.3 3

 4 Checkable deposits and currency 0.4 0.7 1.8 -0.4 -1.2 1.8 -1.2 2.7 0.1 0.1 4

 5 Time and savings deposits 1.4 -3.4 -4.7 1.9 1.9 -1.4 1.1 -1.9 -0.7 -3.7 5

 6 Money market fund shares 1.4 0.3 0.3 0.3 0.5 0.0 0.2 0.2 1.0 0.8 6

 7 Security RPs 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 7

 8 Credit market instruments 19.2 44.7 31.7 21.8 30.9 20.5 2.6 37.1 26.9 10.1 8

 9 Open market paper 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 9

10 Treasury securities 17.5 29.9 23.5 11.8 1.7 15.8 -2.7 38.0 13.9 -1.9 10

11 Agency- and GSE-backed securities -5.2 0.0 4.8 -7.6 15.9 11.6 -4.8 -18.3 -4.0 4.1 11

12 Municipal securities -0.4 -0.4 0.1 -0.3 -0.3 0.2 0.1 -0.2 0.9 -0.3 12

13 Corporate and foreign bonds 4.8 11.7 0.4 18.7 14.4 -10.5 2.6 12.2 22.1 0.1 13

14 Mortgages 0.1 0.2 -0.2 0.3 -0.3 0.8 0.8 -0.4 -1.9 0.7 14

15 Corporate equities 28.6 24.0 32.4 22.9 14.0 22.5 39.1 13.8 33.3 26.1 15

16 Mutual fund shares 0.0 -1.9 3.9 -2.1 -0.6 0.5 5.0 4.3 6.1 19.1 16

17 Miscellaneous assets 0.1 0.2 -0.1 1.5 4.2 1.6 -3.2 -0.1 -0.4 0.5 17

18 Pension fund reserves (liabilities) (1) 53.6 68.1 68.5 45.1 49.6 48.6 50.7 62.6 62.8 60.9 18

(1) Equal to the net acquisition of nonfinancial and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

F.118 Federal Government Retirement Funds (1)

Billions of dollars

 1 Net acquisition of financial assets 39.9 29.6 31.4 34.4 36.7 36.2 41.5 44.0 41.8 43.0 1

 2 Credit market instruments 0.0 0.0 1.1 1.6 2.1 2.5 2.6 3.0 3.1 3.7 2

 3 Treasury securities 0.0 0.0 1.1 1.6 2.1 2.5 2.5 2.8 2.8 3.5 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.1 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.3 0.5 1.2 1.7 1.7 6

 7 Miscellaneous assets(2) 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 7

 8 Pension fund reserves (liabilities) (3) 39.9 29.6 31.4 34.4 36.7 36.2 41.5 44.0 41.8 43.0 8

(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

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

 retirement fund, and foreign service retirement and disability fund.

(3) Liabilities of the sector are assets of the household sector.
FFA, 1985-1994, December 6, 2012 25

F.119 Money Market Mutual Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 1

 2 Foreign deposits -2.2 3.1 -0.6 7.9 -3.2 0.6 -5.3 -1.2 -10.3 5.7 2

 3 Checkable deposits and currency 1.4 -0.2 -0.3 1.0 -0.6 11.1 -11.5 -2.4 1.4 -1.3 3

 4 Time and savings deposits -6.7 2.7 14.5 -0.8 9.3 -21.1 13.2 -0.5 -2.8 -0.5 4

 5 Security RPs 3.3 6.0 7.0 2.3 13.1 3.9 8.8 -1.0 0.4 2.4 5

 6 Credit market instruments 14.0 34.9 1.9 10.5 68.3 77.5 32.7 4.7 20.4 30.0 6

 7 Open market paper 1.1 6.1 5.7 17.4 57.0 19.5 -13.4 -17.0 -9.1 22.7 7

 8 Treasury securities -0.8 3.4 -13.7 -2.7 3.2 30.2 33.4 0.2 1.0 -13.3 8

 9 Agency- and GSE-backed securities 1.1 -3.0 11.7 -8.6 2.7 15.6 4.2 13.6 13.5 9.4 9

10 Municipal securities 12.5 27.6 -2.3 4.3 4.0 13.9 6.6 5.4 9.6 7.8 10

11 Corporate and foreign bonds 0.2 0.8 0.4 0.1 1.4 -1.7 1.8 2.5 5.4 3.4 11

12 Miscellaneous assets 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 12

13 Net share issues (liabilities) 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.120 Mutual Funds (1)

Billions of dollars

 1 Gross saving 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 1

 2 Net acquisition of financial assets 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 2

 3 Security RPs 0.1 1.5 0.8 1.3 -0.2 1.4 6.1 9.7 16.8 4.4 3

 4 Credit market instruments 76.1 129.9 31.3 13.3 22.7 36.2 80.1 126.2 159.5 -7.1 4

 5 Open market paper -0.5 7.9 3.6 9.1 -0.6 3.7 -16.3 9.7 16.8 4.4 5

 6 Treasury securities 32.2 32.4 12.8 -3.8 1.2 5.7 16.8 6.5 23.6 -3.5 6

 7 Agency- and GSE-backed securities 20.7 37.3 2.8 -3.4 1.6 8.1 24.1 50.3 25.7 -6.9 7

 8 Municipal securities 15.8 32.1 7.9 8.1 15.7 13.9 27.2 28.7 42.9 -4.3 8

 9 Corporate and foreign bonds 8.0 20.2 4.1 3.2 4.8 4.7 28.4 31.0 50.6 3.2 9

10 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Corporate equities 10.3 20.2 26.9 -16.0 1.2 14.4 48.5 59.8 115.3 100.8 11

12 Miscellaneous assets 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 12

13 Net share issues (liabilities) 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 13

14 Discrepancy 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.121 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Net acquisition of financial assets 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 1

 2 Credit market instruments 1.4 2.9 4.0 17.9 6.6 1.3 12.8 20.2 20.0 -3.7 2

 3 Treasury securities 0.1 0.4 0.6 3.2 1.8 0.2 3.1 1.7 2.1 -1.0 3

 4 Municipal securities 1.0 1.1 1.3 4.2 4.6 2.0 11.3 14.3 12.1 1.6 4

 5 Corporate and foreign bonds 0.3 1.4 2.1 10.4 0.1 -0.9 -1.6 4.2 5.8 -4.4 5

 6 Corporate equities -0.4 2.9 3.3 2.8 -0.3 0.1 1.8 -0.0 3.7 6.1 6

 7 Net share issues (liabilities) 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 7

 Exchange-traded funds

 8 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Municipal securities 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 13

14 Net share issues (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 14
26 FFA, 1985-1994, December 6, 2012

F.122 Government-Sponsored Enterprises (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.1 -0.3 0.6 1.4 1.8 1.7 1.9 1.5 1.7 1.5 1

 2 Fixed nonresidential investment 0.5 0.5 0.4 0.4 0.3 0.3 0.3 0.3 0.5 0.5 2

 3 Net acquisition of financial assets 28.7 22.5 27.9 47.3 32.5 23.4 19.2 56.0 78.8 150.7 3

 4 Checkable deposits and currency 0.8 1.5 -0.1 -0.0 -1.3 -0.2 -0.9 -0.0 0.9 -0.8 4

 5 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal funds and security RPs (net) 6.0 2.5 -2.2 6.6 28.0 6.9 -1.1 -1.0 -16.2 35.4 6

 7 Credit market instruments 25.1 16.6 23.4 33.3 -4.3 14.0 15.0 69.3 88.5 121.2 7

 8 Open market paper -0.6 -0.0 -0.0 0.4 2.9 0.5 7.1 2.7 -1.7 14.4 8

 9 Treasury securities 4.1 9.5 4.7 5.3 -13.3 21.3 18.2 17.9 -7.1 0.3 9

10 Agency- and GSE-backed securities 0.1 -0.6 -0.1 0.2 5.9 5.6 11.1 12.7 18.6 64.8 10

11 Municipal securities 0.4 0.7 0.2 0.5 -0.0 0.8 -0.7 0.2 -0.1 2.0 11

12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 8.9 12

13 Other loans and advances 10.3 17.6 25.0 18.8 -8.6 -23.1 -34.1 0.6 23.8 23.6 13

14 Sallie Mae 1.0 0.8 1.4 -0.3 0.5 1.0 1.1 -1.6 -0.8 0.0 14

15 Farm Credit System -4.9 -3.1 -0.8 -0.7 1.9 0.5 2.8 1.4 1.4 0.8 15

16 FHLB loans 14.2 19.8 24.4 19.7 -11.0 -24.7 -38.0 0.8 23.3 22.8 16

17 Mortgages 9.6 -12.0 -8.3 5.0 6.0 5.7 11.5 32.1 41.3 3.6 17

18 Home 17.2 -5.7 -3.1 6.2 5.1 5.3 11.2 30.3 40.0 3.0 18

19 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Other 17.2 -5.7 -3.1 6.2 5.1 5.3 11.2 30.3 40.0 3.0 20

21 Multifamily residential 1.9 0.3 -0.3 1.1 2.5 1.2 1.0 1.6 1.7 0.9 21

22 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Other 1.9 0.3 -0.3 1.1 2.5 1.2 1.0 1.6 1.7 0.9 23

24 Farm -9.5 -6.5 -4.9 -2.3 -1.5 -0.9 -0.7 0.1 -0.5 -0.3 24

25 Consumer credit (3) 1.2 1.4 1.9 3.2 2.8 3.2 1.9 3.1 2.6 3.6 25

26 Miscellaneous assets -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 26

27 Net increase in liabilities 31.6 23.8 28.3 47.1 30.7 18.4 15.3 53.2 78.0 147.5 27

28 Credit market instruments 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 28

29 GSE issues (4) 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 29

30 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Other 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 31

32 U.S. government loans 1.1 -0.4 -0.8 0.0 0.0 -0.1 -0.0 -0.0 0.0 -4.8 32

33 Corporate equities 1.0 0.7 1.3 1.1 -0.8 -3.2 -1.2 0.0 2.4 0.3 33

34 Miscellaneous liabilities 8.8 8.2 -2.4 1.1 6.3 4.6 7.3 12.5 -4.9 -24.9 34

35 Discrepancy 2.5 0.4 0.5 0.8 -0.3 -3.6 -2.4 -1.6 0.3 -2.2 35

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table F.123) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.123 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Net acquisition of financial assets 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 1

 2 Home mortgages 77.6 159.3 133.4 70.7 120.2 147.3 139.3 117.8 86.1 115.3 2

 3 Multifamily residential mortgages 1.5 5.1 4.5 5.2 4.1 3.0 -2.6 -2.3 -1.4 -0.0 3

 4 Commercial mortgages 0.0 0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 4

 5 Farm mortgages -0.2 -0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 5

 6 Net increase in pool securities (liabilities)(2) 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.122). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
FFA, 1985-1994, December 6, 2012 27

F.124 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.4 0.3 0.4 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.5 0.9 0.2 0.3 0.6 2

 3 Net acquisition of financial assets 15.8 37.5 43.6 36.1 26.9 59.1 53.3 56.4 82.5 70.0 3

 4 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Agency- and GSE-backed securities (1) 9.0 43.4 28.2 25.4 -8.0 4.1 -23.0 -23.0 23.6 23.0 5

 6 Other loans and advances 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 6

 7 Mortgages (2) 6.0 -6.7 13.6 9.0 12.2 13.4 43.5 54.8 36.4 20.3 7

 8 Home 5.4 -7.4 11.2 7.1 8.5 11.7 38.1 45.5 25.6 15.1 8

 9 Multifamily residential 0.0 0.2 0.4 0.4 -0.0 -0.1 2.9 2.8 1.8 1.4 9

10 Commercial 0.6 0.6 2.0 1.5 3.7 1.8 2.4 6.5 9.0 3.8 10

11 Consumer credit 0.0 0.0 0.0 0.0 20.2 29.3 26.3 17.3 10.2 15.6 11

12 Trade credit 0.9 0.9 1.8 1.7 1.9 8.7 4.1 4.3 2.6 6.8 12

13 Net increase in liabilities 15.8 37.5 43.6 36.1 26.9 59.4 53.8 56.3 82.5 70.3 13

14 Commercial paper 0.9 0.9 1.8 1.7 8.9 15.7 7.3 8.1 4.7 12.4 14

15 Corporate bonds (net) (3) 15.0 36.7 41.8 34.4 18.0 43.7 46.4 48.1 77.8 57.9 15

16 Discrepancy 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) 0.0 0.0 0.0 0.0 0.0 0.3 0.5 -0.1 0.0 0.3 17

18 REIT assets (5) 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -0.7 -1.7 -3.6 18

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Net issuance less net acquisition of corporate bonds held as assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.

(5) Included in table F.126.

F.125 Finance Companies (1)

Billions of dollars

 1 Gross saving -1.1 -1.3 8.7 9.8 12.8 14.6 16.1 17.7 20.1 21.7 1

 2 Fixed nonresidential investment 2.7 3.2 12.4 14.0 17.3 16.7 14.3 12.4 22.7 28.4 2

 3 Net acquisition of financial assets 54.2 60.7 46.5 49.4 49.0 27.5 23.9 -3.9 6.3 18.3 3

 4 Checkable deposits and currency 1.0 0.9 1.4 1.2 0.8 1.2 2.3 0.4 1.5 1.4 4

 5 Time and savings deposits 0.3 0.8 0.6 0.5 1.3 0.7 2.8 0.3 3.1 1.2 5

 6 Credit market instruments 50.7 56.7 38.4 45.0 55.4 27.5 7.7 2.4 -7.3 32.0 6

 7 Corporate and foreign bonds 3.7 5.1 5.7 4.8 6.1 5.4 14.8 1.9 13.6 7.6 7

 8 Other loans and advances 18.3 15.6 34.3 28.6 23.5 17.4 -4.3 1.1 -15.9 25.9 8

 9 Mortgages 8.0 17.5 -4.7 10.3 26.6 11.2 9.5 2.7 -3.1 -19.8 9

10 Consumer credit 20.7 18.6 3.1 1.2 -0.7 -6.5 -12.2 -3.3 -1.9 18.3 10

11 Miscellaneous assets 2.2 2.2 6.1 2.7 -8.5 -1.9 11.1 -7.0 8.9 -16.2 11

12 Net increase in liabilities 55.5 61.5 41.7 41.2 42.7 27.9 30.9 3.9 10.8 40.3 12

13 Credit market instruments 41.9 60.5 12.0 24.0 37.5 23.1 13.6 4.9 -1.3 37.2 13

14 Open market paper 29.6 21.6 10.7 17.1 8.7 3.1 -8.6 -6.0 -0.1 22.5 14

15 Corporate bonds 14.7 26.3 9.6 5.9 15.6 16.8 14.8 8.9 12.5 31.7 15

16 Depository institution loans n.e.c. -2.5 12.6 -8.3 1.0 13.2 3.2 7.4 2.0 -13.7 -17.1 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 17

18 Taxes payable 0.0 0.0 0.3 0.2 0.4 0.4 0.5 0.6 0.8 0.8 18

19 Miscellaneous liabilities 13.7 1.0 29.4 17.1 4.9 4.4 16.8 -1.6 11.4 2.3 19

20 Foreign direct investment in U.S. -0.5 2.1 -0.2 -0.5 7.2 -3.5 1.3 1.7 7.1 0.4 20

21 Investment by parent 17.6 10.3 -11.5 -22.6 -1.5 1.4 -4.3 2.0 1.2 6.2 21

22 Other -3.4 -11.5 41.1 40.2 -0.8 6.4 19.8 -5.3 3.1 -4.3 22

23 Discrepancy -2.5 -3.8 -8.5 -12.3 -10.7 -1.8 8.8 13.1 2.0 15.3 23

 Memo:

24 Consumer leases not included above (2) 2.7 2.8 2.3 2.9 2.8 6.6 7.4 5.5 10.2 18.2 24

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.124.
28 FFA, 1985-1994, December 6, 2012

F.126 Real Estate Investment Trusts (REITs)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving -0.3 0.2 -0.0 0.0 -0.2 -0.1 -0.1 0.1 0.7 0.6 1

 2 Fixed nonresidential investment 0.4 0.6 0.7 0.9 0.9 1.0 0.9 1.1 1.2 1.3 2

 3 Multifamily residential investment 0.1 0.2 0.2 0.1 0.1 0.2 0.2 2.6 5.2 7.3 3

 4 Net acquisition of financial assets 2.8 4.6 8.4 5.1 2.2 -2.2 0.5 -0.9 1.9 1.1 4

 5 Checkable deposits and currency 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 2.6 5.0 7.5 4.3 0.6 -1.8 -0.6 1.4 0.4 -0.7 6

 7 Agency- and GSE-backed securities 0.2 5.0 6.5 2.5 0.9 -1.1 0.1 -0.7 -0.3 -6.4 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 0.2 1.0 8

 9 Mortgages 2.4 0.0 1.0 1.7 -0.3 -0.7 -0.7 1.1 0.6 4.7 9

10 Home 0.1 -0.0 0.0 0.1 -0.0 -0.0 -0.1 0.8 1.1 2.8 10

11 Multifamily residential 0.4 0.0 0.3 0.5 -0.1 -0.2 -0.1 0.0 -0.3 0.2 11

12 Commercial 1.9 0.0 0.7 1.1 -0.2 -0.5 -0.5 0.3 -0.3 1.7 12

13 Miscellaneous assets 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 13

14 Net increase in liabilities 4.7 7.6 9.8 8.0 2.5 1.1 4.2 4.0 16.9 29.0 14

15 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 2.1 4.7 15

16 Credit market instruments 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 16

17 Open market paper 0.1 0.3 0.4 -0.1 -0.2 -0.2 -0.0 -0.0 -0.3 -0.6 17

18 Corporate bonds 0.9 4.8 6.8 1.8 1.0 0.1 -0.1 0.3 -1.4 -1.6 18

19 Depository institution loans n.e.c. 0.3 0.3 0.5 1.6 1.0 0.3 0.6 -1.3 -0.2 2.5 19

20 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 20

21 Corporate equity issues 3.2 1.8 1.4 2.2 1.8 1.3 1.6 2.0 13.2 11.1 21

22 Miscellaneous liabilities 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 22

23 Discrepancy 1.0 2.5 0.4 1.9 -0.9 1.9 2.5 1.3 9.4 19.9 23

 Memo:

24 Securitized assets included above 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -0.7 -1.7 -3.6 24

25 Agency- and GSE-backed securities 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -1.3 -2.3 -5.0 25

26 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.6 1.4 26

27 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28
FFA, 1985-1994, December 6, 2012 29

F.127 Security Brokers and Dealers

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 3.4 3.1 5.6 4.9 5.1 8.3 6.0 7.1 7.9 6.9 1

 2 Fixed nonresidential investment 9.4 11.2 12.8 13.9 14.7 12.9 12.2 5.7 11.1 8.5 2

 3 Net acquisition of financial assets 37.6 28.6 -62.5 -2.0 100.7 25.6 70.4 49.2 97.0 -24.1 3

 4 Checkable deposits and currency 2.4 2.2 -1.4 1.9 0.4 0.5 -0.1 0.2 1.9 -0.3 4

 5 Credit market instruments 4.1 8.1 -35.0 -16.3 80.2 2.8 17.5 -1.3 14.8 -44.2 5

 6 Open market paper -2.8 -2.0 -1.5 0.6 3.0 0.6 -4.4 1.2 -0.3 -3.7 6

 7 Treasury securities -16.2 8.1 -25.7 -30.7 68.9 -14.2 -1.6 -13.3 -20.7 -14.4 7

 8 Agency- and GSE-backed securities 4.9 4.9 4.9 4.9 4.9 19.6 10.0 -1.0 7.8 -15.8 8

 9 Municipal securities 8.9 -3.3 -8.4 -0.8 -0.4 0.8 1.6 1.9 5.8 -1.7 9

10 Corporate and foreign bonds 9.2 0.3 -4.4 9.8 3.7 -4.0 12.0 10.0 22.2 -8.7 10

11 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Corporate equities 2.6 1.4 -7.1 0.1 -1.9 -3.3 2.4 -0.6 8.1 -3.4 12

13 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 13

14 Miscellaneous assets 9.7 10.3 -2.7 10.5 23.0 29.4 34.3 52.6 49.6 24.8 14

15 Net increase in liabilities 35.3 27.2 -55.8 -4.9 96.9 31.4 64.2 44.8 108.2 -17.4 15

16 Security RPs (net) -1.8 11.8 -49.8 -13.1 86.1 16.8 25.7 24.0 20.0 -23.0 16

17 Credit market instruments 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 17

18 Corporate bonds 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 18

19 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Corporate equity issues 2.5 2.2 6.3 -1.2 -3.0 3.4 -5.7 -1.9 1.3 4.7 20

21 Trade payables 2.5 -0.4 -0.8 1.7 -0.5 -1.9 0.7 0.6 2.7 -0.9 21

22 Security credit 24.5 3.2 -11.1 1.3 16.6 7.2 35.2 6.2 38.7 1.0 22

23 Customer credit balances (HH) 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 23

24 From U.S.-chartered depository institutions 6.8 -5.9 -3.2 -0.4 4.2 -5.4 2.2 3.1 4.1 -4.6 24

25 From foreign banking offices in U.S. 4.2 0.1 -2.1 -0.1 0.1 3.4 8.4 13.9 8.6 -1.2 25

26 Taxes payable 0.3 0.2 -0.6 0.1 0.1 0.1 0.2 0.0 0.5 -0.2 26

27 Miscellaneous liabilities 6.9 7.0 1.1 1.8 -6.9 5.0 4.0 13.1 32.0 1.7 27

28 Foreign direct investment in U.S. -0.3 0.6 2.1 0.9 1.4 0.1 2.0 0.0 16.5 0.9 28

29 Investment by funding corporations 8.6 3.4 13.9 26.9 7.9 -13.0 4.9 16.5 25.2 16.7 29

30 Other -1.4 2.9 -14.9 -26.0 -16.1 17.9 -2.9 -3.5 -9.7 -15.9 30

31 Proprietors’ net investment 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 31

32 Discrepancy -8.2 -9.5 -0.5 -11.9 -13.4 1.1 -12.4 -3.0 8.0 5.1 32

(1) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
30 FFA, 1985-1994, December 6, 2012

F.128 Holding Companies (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 15.7 14.4 14.4 17.9 19.9 21.6 22.0 21.0 28.3 36.4 1

 2 Fixed nonresidential investment 15.0 14.8 15.1 16.0 17.1 16.3 14.9 16.3 15.1 15.0 2

 3 Net acquisition of financial assets 32.4 31.3 27.3 21.4 19.8 -13.6 3.2 34.7 44.3 31.2 3

 4 Time and savings deposits 0.3 0.2 -1.9 0.3 0.1 -14.4 -2.2 -0.9 -0.1 -0.4 4

 5 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.4 1.0 -0.1 -0.5 0.2 5

 6 Credit market instruments 3.7 -0.3 2.0 -0.1 2.8 -2.8 -1.5 5.6 -0.0 0.9 6

 7 Treasury securities 0.3 -0.1 0.1 0.0 0.1 -0.2 0.3 5.1 -0.8 -0.7 7

 8 Agency- and GSE-backed securities 1.0 -0.4 0.3 0.0 0.3 -0.5 0.5 -0.2 0.9 1.7 8

 9 Corporate and foreign bonds 3.1 -1.3 1.0 0.1 0.8 -1.9 -0.5 0.3 1.7 -0.1 9

10 Other loans and advances -0.7 1.5 0.5 -0.3 1.6 -0.2 -1.9 0.4 -1.8 -0.1 10

11 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Miscellaneous assets 28.5 31.4 27.3 21.1 16.9 3.2 5.9 30.2 44.9 30.6 12

13 Net transactions with depository institution subsidiaries 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 13

14 Net transactions with property-casualty insurance co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Net transactions with life insurance company subsidiaries 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Net transactions with finance company subsidiaries 12.8 8.3 -5.3 -19.6 -1.9 -4.1 -6.4 -0.0 6.4 4.0 16

17 Net transactions with broker and dealer subsidiaries 0.1 0.1 11.5 20.1 8.0 -18.5 -5.8 -2.6 8.0 0.7 17

18 Net transactions with foreign subsidiaries 0.5 -1.3 -3.5 -1.7 -1.8 -0.4 5.7 -5.8 2.3 7.8 18

19 Other -0.1 6.3 1.3 -0.7 2.2 8.9 -2.2 1.8 -1.8 2.5 19

20 Net increase in liabilities 23.8 24.7 21.4 12.9 10.2 -24.1 -7.2 25.9 28.9 8.2 20

21 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -0.1 0.0 21

22 Credit market instruments 17.7 11.4 15.0 4.9 5.3 -30.6 -6.1 -0.1 9.6 13.5 22

23 Commercial paper 2.2 -3.3 1.5 -0.2 4.4 -18.7 -5.8 -3.9 5.2 5.9 23

24 Corporate bonds 14.4 13.9 12.8 5.4 1.9 -9.0 3.3 6.1 3.6 4.3 24

25 Depository institution loans n.e.c. 1.1 0.7 0.7 -0.3 -0.9 -2.9 -3.6 -2.4 0.8 3.3 25

26 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 6.9 14.7 15.9 5.4 -5.1 26

27 Miscellaneous liabilities 6.1 13.3 6.4 8.1 4.9 -0.4 -15.8 10.0 14.0 -0.3 27

28 Equity, etc. 5.7 -2.0 5.2 7.3 0.6 3.3 4.4 22.2 21.6 -8.1 28

29 Other 0.3 15.3 1.2 0.8 4.3 -3.7 -20.3 -12.2 -7.6 7.8 29

30 Discrepancy -8.0 -7.0 -6.6 -6.6 -6.8 -5.2 -3.2 -4.0 -2.2 -1.7 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.
FFA, 1985-1994, December 6, 2012 31

F.129 Funding Corporations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 71.1 10.9 19.6 31.6 14.1 9.7 32.7 59.1 -2.4 17.7 1

 2 Money market fund shares 0.7 2.6 2.2 4.0 8.0 16.1 17.5 26.8 14.9 13.1 2

 3 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 59.7 0.8 7.8 8.0 3.6 -10.0 5.1 9.2 -27.9 -11.0 4

 5 Open market paper 59.7 0.8 7.8 8.0 3.6 -10.0 5.1 9.2 -31.9 -21.0 5

 6 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 10.0 6

 7 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 9

10 Investment in foreign banking offices 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 10

11 Investment in brokers and dealers 8.5 3.4 2.4 6.8 -0.2 5.4 10.7 19.2 17.2 16.1 11

12 Net increase in liabilities 71.1 10.9 19.6 31.6 14.1 9.7 32.7 59.1 -2.4 17.7 12

13 Credit market instruments 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 13

14 Open market paper 8.6 10.6 7.0 39.1 13.8 14.0 -10.9 4.5 -7.3 3.0 14

15 Corporate bonds 2.1 1.4 2.7 -1.1 -1.3 2.9 6.9 11.7 13.6 20.0 15

16 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Corporate equities (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Miscellaneous liabilities 60.4 -1.0 9.9 -6.4 1.6 -7.1 36.7 42.9 -8.7 -5.4 19

20 Foreign direct investment in U.S. 0.0 -4.4 -0.1 -18.5 -10.0 -13.2 14.2 6.9 4.3 -7.5 20

21 Securities loaned (net) 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 21

22 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Other (net) 58.9 -1.7 6.9 4.0 -4.4 -26.0 -9.0 -14.6 -56.6 -22.5 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.
32 FFA, 1985-1994, December 6, 2012

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 1

 2 Federal government: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Rest of the world 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 3

 4 SDR holdings 0.9 0.2 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 4

 5 Reserve position in IMF (net) -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.0 -0.5 5

 6 Foreign currency holdings 3.9 0.9 -7.6 5.1 25.2 2.7 -6.3 -4.3 0.8 -5.3 6

 7 Net change in assets 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 7

 8 Federal government 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 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 9

10 SDR holdings 0.9 0.2 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 10

11 Reserve position in IMF (net) -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.1 -0.5 11

12 Foreign currency holdings 1.9 0.5 -3.8 2.5 12.6 1.3 -3.2 -2.1 0.4 -2.6 12

13 Rest of the world 0.0 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 14

15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Monetary authority 2.0 0.4 -3.8 2.5 12.6 1.3 -3.2 -2.2 0.4 -2.6 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 17

18 Reserve position in IMF (net) 0.0 -0.0 -0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 0.0 18

19 Foreign currency holdings 1.9 0.5 -3.8 2.5 12.6 1.3 -3.2 -2.1 0.4 -2.6 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

 SDR certificates:

 1 Liab: Federal government 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 1

 2 Asset: Monetary authority 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 3

 4 Asset: Monetary authority 0.6 0.5 0.6 0.6 0.8 0.8 0.6 0.4 0.6 0.9 4

 5 Discrepancy (seigniorage) -0.2 -0.0 -0.1 -0.1 -0.3 0.2 -0.6 -0.2 -0.2 -0.2 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 1

 Held by:

 2 Household sector 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 2

 3 Nonfinancial corporate business 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 3

 4 Money market mutual funds -2.2 3.1 -0.6 7.9 -3.2 0.6 -5.3 -1.2 -10.3 5.7 4

 5 Discrepancy--unallocated assets 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 5
FFA, 1985-1994, December 6, 2012 33

F.203 Net Interbank Transactions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 25.8 24.0 41.6 4.4 -10.7 27.6 -3.0 42.7 54.9 105.5 1

 2 Monetary authority 8.1 19.6 -7.1 0.3 0.1 4.3 -8.2 0.9 3.7 1.3 2

 3 U.S.-chartered depository institutions 12.1 -3.7 33.4 -3.6 -18.0 15.4 8.2 10.5 32.8 84.4 3

 4 Foreign banking offices in U.S. 11.6 15.8 14.9 4.0 4.8 8.3 1.9 32.3 16.7 11.3 4

 5 Banks in U.S.-affiliated areas -0.4 0.1 0.8 0.6 0.4 0.1 0.8 0.5 0.3 -0.4 5

 6 Credit unions -5.7 -7.8 -0.4 3.3 2.1 -0.4 -5.6 -1.5 1.4 8.9 6

 7 Net change in assets 24.9 32.8 45.9 3.3 -10.8 30.3 -23.9 48.4 48.6 100.4 7

 8 Rest of the world 17.1 14.4 51.2 4.2 -9.0 25.2 -14.2 44.5 47.9 100.6 8

 9 Monetary authority -0.4 -1.2 1.8 -1.2 -1.8 0.8 -1.5 3.0 -2.9 -1.5 9

10 U.S.-chartered depository institutions 7.4 19.0 -6.7 1.4 0.1 4.1 -8.0 1.2 3.3 1.3 10

11 Foreign banking offices in U.S. 0.7 0.6 -0.4 -1.1 -0.0 0.2 -0.3 -0.3 0.3 -0.0 11

12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Discrepancy 0.9 -8.8 -4.2 1.2 0.0 -2.6 20.9 -5.7 6.3 5.1 13

 Memo:

 Vault cash:

14 Liab.: Monetary authority 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 14

15 Asset: U.S.-chartered depository institutions 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 15

 Depository institution reserves:

16 Liab.: Monetary authority 6.8 19.5 -6.3 -2.4 -1.0 0.3 -9.2 2.7 2.9 -4.2 16

17 Asset: U.S.-chartered depository institutions 6.1 18.9 -5.9 -1.3 -1.0 0.2 -9.0 3.0 2.5 -4.1 17

18 Foreign banking offices in U.S. 0.7 0.6 -0.4 -1.1 -0.0 0.2 -0.3 -0.3 0.3 -0.0 18

19 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Other transactions with the monetary authority

20 Liab: U.S.-chartered depository institutions -0.4 -1.2 1.8 -1.2 -1.8 0.8 -1.5 3.0 -2.9 -1.5 20

21 Asset: Monetary authority -0.4 -1.2 1.8 -1.2 -1.8 0.8 -1.5 3.0 -2.9 -1.5 21

22 Federal Reserve float 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 22

23 Loans -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 23

 Transactions with banks in foreign countries (net):

24 Liab.: U.S.-chartered depository institutions (net) 8.5 -3.6 26.4 2.2 -7.7 16.7 -5.7 -6.5 19.3 74.4 24

25 Due to foreign affiliates 10.3 -5.1 12.0 12.1 -9.7 14.9 7.4 -10.1 6.6 52.6 25

26 - Due from foreign affiliates 1.8 -1.5 -14.4 9.9 -2.0 -1.8 13.1 -3.7 -12.8 -21.7 26

27 Foreign banking offices in U.S. (net) 3.9 16.9 22.8 1.5 -3.2 8.1 -5.7 49.3 29.2 27.0 27

28 Due to foreign affiliates 7.4 18.7 13.0 0.3 -13.2 7.9 5.4 3.7 -1.7 1.4 28

29 - Due from foreign affiliates 3.5 1.8 -9.7 -1.2 -10.0 -0.2 11.1 -45.6 -30.9 -25.6 29

30 Less: Deposits at foreign banks -4.7 -1.1 -2.0 -0.4 -1.9 -0.5 2.8 -1.7 0.7 0.8 30

31 U.S.-chartered depository institutions -2.0 -1.0 -1.9 -0.2 -2.3 -0.7 2.9 -1.7 0.7 -0.4 31

32 Foreign banking offices in U.S. -2.7 -0.1 -0.2 -0.2 0.4 0.3 -0.1 -0.0 0.0 1.3 32

33 Asset: Rest of the world (1) 17.1 14.4 51.2 4.2 -9.0 25.2 -14.2 44.5 47.9 100.6 33

 Transactions between U.S. depository institutions (net) (2):

34 U.S.-chartered depository institutions (net) 2.0 0.1 3.3 -4.9 -10.8 -2.8 18.2 12.3 17.1 11.1 34

35 Due to (3): 8.3 6.2 4.5 4.4 5.4 2.9 10.1 -9.5 6.6 4.6 35

36 Foreign banking offices in U.S. 1.3 7.3 9.1 7.0 7.9 5.2 -15.6 -4.8 2.0 8.0 36

37 Banks in U.S.-affiliated areas 0.4 -0.1 -0.8 -0.6 -0.4 -0.1 -0.8 -0.5 -0.3 0.4 37

38 Credit unions 5.7 7.8 0.4 -3.3 -2.1 0.4 5.6 1.5 -1.4 -8.9 38

39 - Due from: Foreign banking offices in U.S. 6.3 6.1 1.2 9.2 16.3 5.7 -8.1 -21.8 -10.5 -6.5 39

40 Unallocated (2) 0.9 -8.8 -4.2 1.2 0.0 -2.6 20.9 -5.7 6.3 5.1 40

(1) Sum of lines 24 and 27 less line 30.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 40), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 36, 37, 38, and 40.
34 FFA, 1985-1994, December 6, 2012

F.204 Checkable Deposits and Currency

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 1

 2 Monetary authority 16.6 13.3 16.7 17.6 10.2 24.2 30.7 16.2 37.2 25.8 2

 3 Federal government cash and deposits 4.1 -1.9 -2.3 3.3 -2.4 2.8 8.8 -10.3 7.2 -7.7 3

 4 Due to government-sponsored enterprises 0.0 0.9 0.1 -0.5 0.7 -1.1 1.5 -1.4 0.0 0.5 4

 5 Deposits due to foreign 0.1 -0.1 -0.1 0.1 0.2 -0.2 0.6 -0.7 0.2 -0.1 5

 6 Currency outside banks 12.4 14.4 19.0 14.8 11.7 22.6 19.8 28.7 29.8 33.1 6

 7 U.S.-chartered depository institutions 61.6 110.3 -13.8 22.6 -4.7 17.3 54.9 91.4 78.1 -40.1 7

 8 Federal government deposits 10.3 1.7 -5.8 7.3 -3.4 5.3 5.5 -5.9 12.1 -18.9 8

 9 Deposits due to foreign 0.0 2.7 -1.4 -0.6 0.1 -0.4 -2.2 1.7 -0.3 1.6 9

10 Private domestic deposits 51.4 106.0 -6.5 15.8 -1.4 12.3 51.6 95.6 66.3 -22.8 10

11 Foreign banking offices in U.S. 2.1 0.9 -0.6 1.0 -0.3 0.4 0.2 -0.6 0.0 0.4 11

12 Deposits due to foreign 1.3 0.1 0.2 -0.0 -0.1 0.3 0.2 0.5 -0.1 0.4 12

13 Private domestic deposits 0.8 0.8 -0.8 1.0 -0.1 0.1 -0.0 -1.1 0.2 0.0 13

14 Banks in U.S.-affiliated areas 0.3 0.4 -0.0 0.3 0.5 -0.7 -0.2 0.6 0.3 0.1 14

15 Credit unions 3.1 0.4 1.7 0.8 1.3 1.5 2.2 4.5 1.7 2.0 15

16 Net change in assets 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 16

17 Household sector 17.8 117.1 -0.7 -0.3 1.7 -11.4 54.2 111.4 51.0 -31.1 17

18 Nonfinancial business 37.5 4.1 10.4 18.6 10.3 8.4 9.1 1.2 23.8 24.2 18

19 Corporate 23.2 1.5 9.6 14.0 9.1 6.1 6.9 -4.2 20.6 11.8 19

20 Noncorporate 14.2 2.6 0.9 4.6 1.2 2.2 2.1 5.4 3.2 12.3 20

21 State and local governments 1.1 2.5 -0.7 3.0 0.4 -1.3 6.5 1.2 2.0 1.8 21

22 Federal government 13.0 0.4 -8.1 9.0 -14.2 4.8 27.4 -16.9 20.7 -21.7 22

23 Rest of the world 4.8 5.1 2.5 3.6 3.9 16.3 11.4 12.6 16.4 22.4 23

24 Checkable deposits 1.5 2.7 -1.4 -0.5 0.2 -0.3 -1.4 1.5 -0.3 1.8 24

25 Currency 3.3 2.4 3.9 4.1 3.7 16.6 12.8 11.1 16.6 20.6 25

26 Financial sectors 7.5 5.8 0.2 6.0 -1.2 14.0 -12.2 0.4 6.1 0.3 26

27 Property-casualty insurance companies 1.2 1.3 -0.1 -0.1 0.6 0.5 -1.1 0.2 -0.4 -0.2 27

28 Life insurance companies 0.5 0.7 -0.9 -0.3 0.5 -0.1 0.5 -0.6 0.4 0.4 28

29 Private pension funds -0.0 -1.4 -0.2 2.9 -0.4 -0.8 -0.3 -0.0 0.2 0.9 29

30 State and local govt. retirement funds 0.4 0.7 1.8 -0.4 -1.2 1.8 -1.2 2.7 0.1 0.1 30

31 Money market mutual funds 1.4 -0.2 -0.3 1.0 -0.6 11.1 -11.5 -2.4 1.4 -1.3 31

32 Government-sponsored enterprises 0.8 1.5 -0.1 -0.0 -1.3 -0.2 -0.9 -0.0 0.9 -0.8 32

33 Finance companies 1.0 0.9 1.4 1.2 0.8 1.2 2.3 0.4 1.5 1.4 33

34 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 Brokers and dealers 2.4 2.2 -1.4 1.9 0.4 0.5 -0.1 0.2 1.9 -0.3 35

36 Mail float 2.1 -9.5 0.4 2.5 6.2 11.8 -8.6 2.2 -2.8 -7.6 36
FFA, 1985-1994, December 6, 2012 35

F.205 Time and Savings Deposits

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 157.5 133.6 126.4 175.9 115.8 -2.2 -56.9 -130.4 -93.9 -17.8 1

 2 Small time and savings deposits 140.4 130.0 76.6 122.7 98.9 63.9 1.6 -57.2 -70.4 -37.4 2

 3 U.S.-chartered depository institutions 119.5 101.1 64.8 110.6 90.5 48.4 -14.8 -73.4 -79.1 -42.5 3

 4 Foreign banking offices in U.S. 1.1 2.2 0.6 0.5 3.7 -1.0 -0.1 0.2 -0.8 -1.1 4

 5 Banks in U.S.-affiliated areas 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 5

 6 Credit unions 19.4 26.1 11.4 11.3 4.2 14.4 17.5 15.5 9.8 5.5 6

 7 Large time deposits (1) 17.1 3.6 49.8 53.2 16.9 -66.1 -58.5 -73.2 -23.5 19.6 7

 8 U.S.-chartered depository institutions 16.6 -5.1 45.8 46.2 8.8 -62.3 -108.4 -84.1 -23.6 15.8 8

 9 Foreign banking offices in U.S. -0.2 7.6 3.8 6.3 4.4 -3.7 50.1 9.0 -0.8 2.6 9

10 Banks in U.S.-affiliated areas 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 10

11 Credit unions 0.3 0.7 0.3 0.4 3.1 -2.1 0.8 1.6 1.1 0.4 11

12 Net change in assets 157.5 133.6 126.4 175.9 115.8 -2.2 -56.9 -130.4 -93.9 -17.8 12

13 Household sector 137.7 104.8 122.1 158.9 74.2 45.2 -71.3 -104.7 -114.7 -36.9 13

14 Nonfinancial business 5.7 17.9 -1.5 2.9 -0.3 -3.4 5.2 5.4 19.4 8.0 14

15 Corporate 0.2 16.2 0.4 -3.7 -1.7 -6.0 3.0 -1.6 16.0 4.4 15

16 Noncorporate 5.5 1.7 -1.9 6.6 1.4 2.7 2.2 7.0 3.4 3.6 16

17 State and local governments 7.0 2.4 7.1 -2.0 -2.8 -3.0 -11.1 -6.1 -1.5 6.5 17

18 Federal government 0.0 0.2 0.2 -0.2 -0.1 0.1 0.1 -0.7 -0.1 -0.1 18

19 Rest of the world 3.2 -2.5 0.9 3.4 4.7 -0.7 -0.2 -4.1 6.8 1.5 19

20 Financial sectors 3.9 10.8 -2.3 12.9 40.1 -40.4 20.4 -20.2 -3.8 3.2 20

21 Private pension funds 8.6 10.4 -10.8 10.9 27.5 -4.2 5.5 -17.1 -3.4 6.7 21

22 State and local govt. retirement funds 1.4 -3.4 -4.7 1.9 1.9 -1.4 1.1 -1.9 -0.7 -3.7 22

23 Money market mutual funds -6.7 2.7 14.5 -0.8 9.3 -21.1 13.2 -0.5 -2.8 -0.5 23

24 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Finance companies 0.3 0.8 0.6 0.5 1.3 0.7 2.8 0.3 3.1 1.2 25

26 Holding companies 0.3 0.2 -1.9 0.3 0.1 -14.4 -2.2 -0.9 -0.1 -0.4 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

 1 Net issues 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 1

 2 Net purchases 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 2

 3 Household sector 3.3 41.9 20.8 17.0 78.1 38.3 18.3 -42.2 -2.1 9.6 3

 4 Nonfinancial corporate business -1.5 0.4 0.9 -5.5 0.0 9.3 4.5 13.5 -3.7 3.2 4

 5 Nonfinancial noncorporate business 0.0 0.1 -0.1 2.2 0.5 0.9 0.7 2.3 1.1 4.2 5

 6 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 6

 7 Rest of the world 0.0 0.0 0.0 0.0 0.4 0.8 0.8 0.8 0.8 0.8 7

 8 Property-casualty insurance companies 2.0 0.0 0.3 1.2 -0.0 1.1 -1.4 2.0 -0.3 -0.8 8

 9 Life insurance companies 2.1 0.9 -3.1 0.1 -0.8 2.2 0.1 0.1 0.1 0.1 9

10 Private pension funds 2.1 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 10

11 State and local govt. retirement funds 1.4 0.3 0.3 0.3 0.5 0.0 0.2 0.2 1.0 0.8 11

12 Funding corporations 0.7 2.6 2.2 4.0 8.0 16.1 17.5 26.8 14.9 13.1 12
36 FFA, 1985-1994, December 6, 2012

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 26.9 50.2 -8.8 21.1 70.8 -23.7 -9.1 39.0 70.0 75.4 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Private depository institutions (net) 28.7 38.4 40.9 34.2 -15.4 -40.5 -34.9 13.0 48.0 93.7 3

 4 U.S.-chartered depository institutions (net) 28.0 32.5 41.0 29.9 -14.5 -46.8 -45.0 12.7 47.2 84.7 4

 5 Foreign banking offices in U.S. (net) 4.5 8.4 -1.7 4.5 2.3 8.4 8.8 0.7 -4.3 6.7 5

 6 Credit unions (net) -3.7 -2.5 1.6 -0.1 -3.1 -2.1 1.4 -0.4 5.1 2.3 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 2.1 4.7 9

10 Brokers and dealers (net) -1.8 11.8 -49.8 -13.1 86.1 16.8 25.7 24.0 20.0 -23.0 10

11 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -0.1 0.0 11

12 Net change in assets 44.6 35.6 9.6 13.8 61.9 31.7 29.9 34.7 27.3 13.6 12

13 Nonfinancial corporate business -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 13

14 State and local governments 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 14

15 Rest of the world (net) 0.8 3.4 2.2 -0.1 10.1 -3.4 1.2 20.9 16.9 -12.0 15

16 Monetary authority 3.2 10.8 -11.0 1.9 -4.7 16.2 -2.5 -7.8 5.1 -2.6 16

17 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Private pension funds 8.3 1.7 -0.4 2.3 2.1 -1.3 3.7 0.2 0.9 -6.2 19

20 State and local govt. retirement funds 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 20

21 Money market mutual funds 3.3 6.0 7.0 2.3 13.1 3.9 8.8 -1.0 0.4 2.4 21

22 Mutual funds 0.1 1.5 0.8 1.3 -0.2 1.4 6.1 9.7 16.8 4.4 22

23 Government-sponsored enterprises (net) 6.0 2.5 -2.2 6.6 28.0 6.9 -1.1 -1.0 -16.2 35.4 23

24 Holding companies 0.0 0.0 0.0 0.0 0.0 0.4 1.0 -0.1 -0.5 0.2 24

25 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Discrepancy--unallocated assets -17.6 14.6 -18.4 7.3 8.9 -55.5 -39.1 4.3 42.7 61.7 26
FFA, 1985-1994, December 6, 2012 37

F.208 Open Market Paper

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total net issues, all types 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 1

 2 Commercial paper 62.2 32.2 26.8 78.2 70.1 36.0 -29.7 17.0 2.5 38.6 2

 3 Nonfinancial corporate business 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 3

 4 Foreign issues in U.S. 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 4

 5 Nonfinancial 1.5 2.2 2.4 -0.6 4.3 4.3 5.5 4.5 -3.1 -12.3 5

 6 Financial 4.7 9.3 1.4 9.3 8.7 8.1 1.2 1.1 -6.5 -13.9 6

 7 Financial sectors 41.4 30.1 21.3 57.6 35.6 13.9 -18.1 2.8 2.1 43.3 7

 8 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 8

 9 ABS issuers 0.9 0.9 1.8 1.7 8.9 15.7 7.3 8.1 4.7 12.4 9

10 Finance companies 29.6 21.6 10.7 17.1 8.7 3.1 -8.6 -6.0 -0.1 22.5 10

11 REITs 0.1 0.3 0.4 -0.1 -0.2 -0.2 -0.0 -0.0 -0.3 -0.6 11

12 Holding companies 2.2 -3.3 1.5 -0.2 4.4 -18.7 -5.8 -3.9 5.2 5.9 12

13 Funding corporations 8.6 10.6 7.0 39.1 13.8 14.0 -10.9 4.5 -7.3 3.0 13

14 Bankers’ acceptances (1) -9.4 -5.9 5.6 -2.7 -4.2 -5.3 -14.3 -3.9 -7.7 -2.9 14

15 U.S.-chartered depository institutions -10.9 -8.7 -1.0 -3.3 -5.3 -4.4 -4.7 -0.1 -2.5 -0.3 15

16 Foreign banking offices in U.S. 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 16

17 Net purchases, by sector 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 17

18 Household sector -9.2 -0.3 -0.8 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 18

19 Nonfinancial corporate business 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 19

20 State and local governments 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 20

21 Rest of the world -0.2 -0.1 1.0 2.8 2.4 -2.0 0.6 1.6 5.9 6.0 21

22 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 U.S.-chartered depository institutions (1) -3.4 0.8 0.4 0.2 -1.3 0.8 -0.4 -2.3 -1.3 -1.5 23

24 Foreign banking offices in U.S. (1) 0.3 -0.2 1.2 -0.5 0.4 2.0 -1.0 0.2 -0.9 -0.2 24

25 Credit unions 0.1 0.6 -0.3 0.4 0.3 1.2 0.3 0.4 -0.7 -0.1 25

26 Property-casualty insurance companies 2.9 0.1 0.4 1.6 -0.0 1.6 -2.0 2.8 -0.4 -1.1 26

27 Life insurance companies -0.2 5.4 -0.4 5.1 3.6 2.9 0.0 -2.5 3.6 5.9 27

28 Private pension funds 2.4 4.3 7.2 -6.1 -0.7 -0.4 3.3 -0.2 0.7 -6.2 28

29 State and local govt. retirement funds 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 29

30 Money market mutual funds 1.1 6.1 5.7 17.4 57.0 19.5 -13.4 -17.0 -9.1 22.7 30

31 Mutual funds -0.5 7.9 3.6 9.1 -0.6 3.7 -16.3 9.7 16.8 4.4 31

32 Government-sponsored enterprises -0.6 -0.0 -0.0 0.4 2.9 0.5 7.1 2.7 -1.7 14.4 32

33 Brokers and dealers -2.8 -2.0 -1.5 0.6 3.0 0.6 -4.4 1.2 -0.3 -3.7 33

34 Funding corporations 59.7 0.8 7.8 8.0 3.6 -10.0 5.1 9.2 -31.9 -21.0 34

(1) Excludes banks’ holdings of own acceptances.
38 FFA, 1985-1994, December 6, 2012

F.209 Treasury Securities

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 1

 2 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 2

 3 Treasury bills 25.5 26.8 -37.2 24.5 16.7 96.8 63.0 67.3 57.0 19.1 3

 4 Other Treasury securities 195.0 175.3 171.8 104.8 119.9 133.5 217.1 217.3 176.7 128.6 4

 5 Net purchases 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 5

 6 Household sector 11.6 -2.4 33.5 78.5 41.8 96.7 25.1 83.3 49.4 169.8 6

 7 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 7

 8 Bills and other Treasury securities 6.4 -15.9 25.7 70.1 33.7 88.3 13.2 64.2 34.8 161.8 8

 9 Nonfinancial corporate business 4.6 -0.8 -8.5 -3.9 23.5 -13.8 5.8 17.2 -11.8 2.0 9

10 Nonfinancial noncorporate business 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 0.6 4.7 10

11 State and local governments 92.7 57.1 41.9 6.6 4.8 41.5 25.0 -17.4 29.6 -77.8 11

12 Rest of the world 19.6 38.2 35.6 62.0 29.8 27.0 33.7 55.6 73.3 65.0 12

13 Treasury bills -7.2 21.3 11.3 13.3 -24.0 5.7 13.9 16.9 49.1 -13.8 13

14 Other Treasury securities 26.8 16.9 24.3 48.7 53.7 21.3 19.7 38.7 24.2 78.8 14

15 Monetary authority 18.6 19.8 21.3 14.8 -6.9 8.3 31.4 28.5 37.0 32.5 15

16 Treasury bills 14.4 18.4 3.9 5.1 -8.2 7.9 20.1 9.2 18.6 17.0 16

17 Other Treasury securities 4.2 1.5 17.4 9.7 1.3 0.4 11.3 19.4 18.4 15.5 17

18 U.S.-chartered depository institutions 2.3 9.4 6.5 -19.6 -28.3 0.8 49.4 55.6 14.9 -28.1 18

19 Foreign banking offices in U.S. -0.0 2.1 -0.4 0.1 -0.2 5.0 9.4 8.7 6.5 -3.5 19

20 Banks in U.S.-affiliated areas 0.1 0.5 0.0 0.2 0.4 0.3 0.3 1.5 1.5 -0.6 20

21 Credit unions 2.4 1.8 3.2 3.3 -2.3 -3.6 5.5 5.9 2.6 -0.5 21

22 Property-casualty insurance companies 5.8 12.7 8.6 9.4 10.8 8.3 23.3 3.5 14.1 9.0 22

23 Life insurance companies 10.5 7.3 -2.0 1.4 -5.7 6.3 18.6 10.2 20.1 -2.9 23

24 Private pension funds 20.2 -15.7 0.2 -0.3 9.7 -0.1 -5.3 -8.5 -4.4 16.8 24

25 State and local govt. retirement funds 17.5 29.9 23.5 11.8 1.7 15.8 -2.7 38.0 13.9 -1.9 25

26 Federal government retirement funds 0.0 0.0 1.1 1.6 2.1 2.5 2.5 2.8 2.8 3.5 26

27 Money market mutual funds -0.8 3.4 -13.7 -2.7 3.2 30.2 33.4 0.2 1.0 -13.3 27

28 Mutual funds 32.2 32.4 12.8 -3.8 1.2 5.7 16.8 6.5 23.6 -3.5 28

29 Closed-end funds 0.1 0.4 0.6 3.2 1.8 0.2 3.1 1.7 2.1 -1.0 29

30 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Government-sponsored enterprises 4.1 9.5 4.7 5.3 -13.3 21.3 18.2 17.9 -7.1 0.3 31

32 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Brokers and dealers -16.2 8.1 -25.7 -30.7 68.9 -14.2 -1.6 -13.3 -20.7 -14.4 33

34 Holding companies 0.3 -0.1 0.1 0.0 0.1 -0.2 0.3 5.1 -0.8 -0.7 34

 Memo:

35 Federal government borrowing (1) 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 35

(1) Total issues of Treasury securities (line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 11).
FFA, 1985-1994, December 6, 2012 39

F.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 1

 2 Budget agencies -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 2

 3 Government-sponsored enterprises 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 3

 4 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 4

 5 Net purchases 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 5

 6 Household sector -7.7 1.7 7.1 19.6 21.2 35.3 6.4 1.7 -56.8 110.5 6

 7 Nonfinancial corporate business -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 7

 8 State and local governments 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Rest of the world 4.3 7.0 5.0 6.7 15.1 6.3 10.2 18.3 35.4 21.7 10

11 Monetary authority -0.2 -0.4 -0.3 0.0 -1.0 -0.2 -0.3 -0.6 -0.8 -1.0 11

12 U.S.-chartered depository institutions -2.3 82.8 71.5 49.2 5.9 29.6 5.7 36.9 40.4 14.4 12

13 Foreign banking offices in U.S. 0.5 1.5 1.2 1.1 0.3 1.9 4.0 2.9 7.4 1.5 13

14 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.4 0.4 0.1 0.1 1.1 0.2 0.5 14

15 Credit unions 1.1 1.8 0.0 -1.7 -0.9 8.2 5.2 9.1 7.7 4.5 15

16 Property-casualty insurance companies 7.8 -0.6 0.1 0.2 3.4 5.9 9.7 -0.3 1.3 1.6 16

17 Life insurance companies 12.5 10.6 7.0 8.6 25.0 20.3 42.4 27.7 27.6 11.3 17

18 Private pension funds 22.5 -8.0 13.1 14.4 23.8 22.6 12.9 10.5 14.2 40.9 18

19 State and local govt. retirement funds -5.2 0.0 4.8 -7.6 15.9 11.6 -4.8 -18.3 -4.0 4.1 19

20 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.1 20

21 Money market mutual funds 1.1 -3.0 11.7 -8.6 2.7 15.6 4.2 13.6 13.5 9.4 21

22 Mutual funds 20.7 37.3 2.8 -3.4 1.6 8.1 24.1 50.3 25.7 -6.9 22

23 Government-sponsored enterprises 0.1 -0.6 -0.1 0.2 5.9 5.6 11.1 12.7 18.6 64.8 23

24 ABS issuers 9.0 43.4 28.2 25.4 -8.0 4.1 -23.0 -23.0 23.6 23.0 24

25 REITs 0.2 5.0 6.5 2.5 0.9 -1.1 0.1 -0.7 -0.3 -6.4 25

26 Brokers and dealers 4.9 4.9 4.9 4.9 4.9 19.6 10.0 -1.0 7.8 -15.8 26

27 Holding companies 1.0 -0.4 0.3 0.0 0.3 -0.5 0.5 -0.2 0.9 1.7 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.209, line 35.
40 FFA, 1985-1994, December 6, 2012

F.211 Municipal Securities and Loans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 1

 2 State and local governments 155.4 72.8 92.8 53.7 47.6 46.2 90.8 16.6 58.7 -45.9 2

 3 Short-term (1) 2.2 -0.1 -0.8 2.0 3.3 2.9 6.9 -1.1 1.8 -2.2 3

 4 Long-term 153.2 72.9 93.6 51.7 44.3 43.2 83.9 17.7 56.9 -43.8 4

 5 Nonprofit organizations (2) 30.2 -3.0 -0.3 1.5 3.2 3.0 3.8 2.4 1.1 3.2 5

 Nonfinancial corporate business

 6 (industrial revenue bonds) 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 6

 7 Net change in assets 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 7

 8 Household sector 103.6 15.2 105.6 56.8 27.9 34.7 54.7 -28.3 -29.8 -46.5 8

 9 Nonfinancial corporate business 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 8.9 2.0 9

10 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.1 10

11 State and local governments 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 11

12 Rest of the world 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 12

13 U.S.-chartered depository institutions 57.9 -28.7 -29.1 -22.5 -17.9 -16.0 -14.7 -6.0 2.0 -2.1 13

14 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 14

15 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.1 -0.0 0.0 -0.1 -0.0 -0.2 0.4 15

16 Property-casualty insurance companies 3.8 13.3 23.0 8.9 0.1 1.8 -10.7 6.3 10.4 7.4 16

17 Life insurance companies 1.0 2.0 -1.0 -1.6 -0.1 3.3 -2.1 1.1 3.2 -1.9 17

18 State and local govt. retirement funds -0.4 -0.4 0.1 -0.3 -0.3 0.2 0.1 -0.2 0.9 -0.3 18

19 Money market mutual funds 12.5 27.6 -2.3 4.3 4.0 13.9 6.6 5.4 9.6 7.8 19

20 Mutual funds 15.8 32.1 7.9 8.1 15.7 13.9 27.2 28.7 42.9 -4.3 20

21 Closed-end funds 1.0 1.1 1.3 4.2 4.6 2.0 11.3 14.3 12.1 1.6 21

22 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Government-sponsored enterprises 0.4 0.7 0.2 0.5 -0.0 0.8 -0.7 0.2 -0.1 2.0 23

24 Brokers and dealers 8.9 -3.3 -8.4 -0.8 -0.4 0.8 1.6 1.9 5.8 -1.7 24

(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).
FFA, 1985-1994, December 6, 2012 41

F.212 Corporate and Foreign Bonds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues 143.4 222.5 164.7 162.2 119.5 123.0 165.7 167.4 386.5 221.0 1

 2 Nonfinancial corporate business 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 2

 3 Rest of the world (1) 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 3

 4 Financial sectors 56.5 92.3 78.6 52.2 40.8 54.5 72.0 83.0 120.2 115.5 4

 5 U.S.-chartered depository institutions 9.1 7.1 5.0 1.6 -0.6 -1.4 -3.2 5.2 2.1 2.6 5

 6 ABS issuers (net) (3) 15.0 36.7 41.8 34.4 18.0 43.7 46.4 48.1 77.8 57.9 6

 7 Finance companies 14.7 26.3 9.6 5.9 15.6 16.8 14.8 8.9 12.5 31.7 7

 8 REITs 0.9 4.8 6.8 1.8 1.0 0.1 -0.1 0.3 -1.4 -1.6 8

 9 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 9

10 Holding companies 14.4 13.9 12.8 5.4 1.9 -9.0 3.3 6.1 3.6 4.3 10

11 Funding corporations 2.1 1.4 2.7 -1.1 -1.3 2.9 6.9 11.7 13.6 20.0 11

12 Net purchases 143.4 222.5 164.7 162.2 119.5 123.0 165.7 167.4 386.5 221.0 12

13 Household sector 46.5 31.9 32.0 -11.8 5.3 47.1 28.8 -2.2 114.1 94.2 13

14 State and local governments 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 14

15 Federal government 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 (2) 36.1 38.9 18.6 14.7 13.1 5.8 18.2 16.6 30.2 37.8 16

17 U.S.-chartered depository institutions 5.4 25.6 29.2 28.6 -12.0 -11.8 1.4 4.2 9.2 -3.0 17

18 Foreign banking offices in U.S. 3.5 5.0 3.0 -0.7 1.1 2.9 3.7 1.0 1.4 5.1 18

19 Banks in U.S.-affiliated areas 0.4 0.1 0.0 -0.9 0.0 -0.0 0.1 0.2 0.2 -0.1 19

20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Property-casualty insurance companies 7.7 13.0 7.4 10.1 13.6 10.4 7.4 -1.2 3.3 7.2 21

22 Life insurance companies 37.8 40.8 66.9 68.4 52.8 56.5 25.4 55.0 58.3 59.9 22

23 Private pension funds -26.2 26.8 -3.9 5.5 12.1 19.8 21.2 27.8 27.2 -6.6 23

24 State and local govt. retirement funds 4.8 11.7 0.4 18.7 14.4 -10.5 2.6 12.2 22.1 0.1 24

25 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 25

26 Money market mutual funds 0.2 0.8 0.4 0.1 1.4 -1.7 1.8 2.5 5.4 3.4 26

27 Mutual funds 8.0 20.2 4.1 3.2 4.8 4.7 28.4 31.0 50.6 3.2 27

28 Closed-end funds 0.3 1.4 2.1 10.4 0.1 -0.9 -1.6 4.2 5.8 -4.4 28

29 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 8.9 30

31 Finance companies 3.7 5.1 5.7 4.8 6.1 5.4 14.8 1.9 13.6 7.6 31

32 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 0.2 1.0 32

33 Brokers and dealers 9.2 0.3 -4.4 9.8 3.7 -4.0 12.0 10.0 22.2 -8.7 33

34 Holding companies 3.1 -1.3 1.0 0.1 0.8 -1.9 -0.5 0.3 1.7 -0.1 34

35 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 10.0 35

(1) Net purchases of foreign issues by U.S. residents.

(2) Net purchases of U.S. issues by foreign residents.

(3) Net issuance less net acquisition of corporate bonds held as assets.
42 FFA, 1985-1994, December 6, 2012

F.213 Corporate Equities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 1

 2 Nonfinancial corporate business -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 2

 3 Rest of the world (2) 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 3

 4 Financial sectors 10.5 14.7 14.9 22.9 3.6 6.7 22.3 40.2 51.1 9.9 4

 5 U.S.-chartered depository institutions 1.4 1.4 1.5 2.5 1.5 2.1 0.9 4.3 1.9 1.8 5

 6 Property-casualty insurance companies 1.5 2.2 -2.0 -2.1 -1.6 -3.8 -2.6 -1.0 3.6 -3.5 6

 7 Life insurance companies -0.1 0.6 -0.9 -0.1 -0.6 -1.4 -0.1 0.6 -0.8 -1.7 7

 8 Closed-end funds 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 8

 9 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 9

10 REITs 3.2 1.8 1.4 2.2 1.8 1.3 1.6 2.0 13.2 11.1 10

11 Government-sponsored enterprises 1.0 0.7 1.3 1.1 -0.8 -3.2 -1.2 0.0 2.4 0.3 11

12 Brokers and dealers 2.5 2.2 6.3 -1.2 -3.0 3.4 -5.7 -1.9 1.3 4.7 12

13 Holding companies 0.0 0.0 0.0 0.0 0.0 6.9 14.7 15.9 5.4 -5.1 13

14 Funding corporations (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Net purchases -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 15

16 Household sector -130.1 -122.6 -143.8 -122.3 -110.1 -50.8 -53.9 27.2 -118.7 -145.3 16

17 State and local governments 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 17

18 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Rest of the world (4) 4.4 17.9 15.0 -2.9 8.6 -16.7 3.8 -17.5 10.4 -11.5 19

20 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 U.S.-chartered depository institutions -0.1 2.1 1.4 2.0 0.3 -5.1 0.5 -0.0 2.5 -3.1 21

22 Foreign banking offices in U.S. 0.1 0.0 -0.1 -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 22

23 Property-casualty insurance companies -2.0 -0.3 2.7 3.6 7.9 -7.0 -1.2 -0.4 0.8 0.8 23

24 Life insurance companies 4.8 -2.1 5.7 -3.4 9.7 -5.7 17.0 12.4 41.1 42.5 24

25 Private pension funds 11.3 -12.9 0.1 6.8 -33.9 0.6 12.8 2.7 36.3 -3.1 25

26 State and local govt. retirement funds 28.6 24.0 32.4 22.9 14.0 22.5 39.1 13.8 33.3 26.1 26

27 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.3 0.5 1.2 1.7 1.7 27

28 Mutual funds 10.3 20.2 26.9 -16.0 1.2 14.4 48.5 59.8 115.3 100.8 28

29 Closed-end funds -0.4 2.9 3.3 2.8 -0.3 0.1 1.8 -0.0 3.7 6.1 29

30 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 30

31 Brokers and dealers 2.6 1.4 -7.1 0.1 -1.9 -3.3 2.4 -0.6 8.1 -3.4 31

32 Funding corporations 0.0 0.0 0.0 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

 1 Net issues 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 1

 2 Net purchases 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 2

 3 Household sector 79.7 139.4 59.0 -1.7 27.3 31.5 102.7 133.3 227.5 3.2 3

 4 Nonfinancial corporate business 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 4

 5 State and local governments 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 5

 6 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 5.9 11.1 9.8 11.6 6

 7 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 -0.1 -0.3 1.8 -0.4 0.5 -1.9 7

 8 Credit unions 0.0 0.0 -0.0 -0.4 -0.1 0.2 1.2 1.5 0.1 -1.6 8

 9 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 9

10 Life insurance companies 1.1 10.2 -2.2 5.7 -4.1 12.6 1.0 9.0 1.5 4.4 10

11 Private pension funds 2.0 1.8 2.2 -0.5 5.1 6.6 11.2 22.2 34.6 55.3 11

12 State and local govt. retirement funds 0.0 -1.9 3.9 -2.1 -0.6 0.5 5.0 4.3 6.1 19.1 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
FFA, 1985-1994, December 6, 2012 43

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 47.1 78.2 2.5 44.7 38.8 -8.4 -40.9 -21.2 -6.5 62.5 1

 2 Household sector 8.0 -2.5 1.2 -1.6 -9.1 0.4 -2.3 5.8 8.7 9.2 2

 3 Corporate business 40.9 67.4 3.4 36.5 22.1 -10.6 -46.2 -30.4 -7.2 47.8 3

 4 Noncorporate business 2.1 0.6 8.7 9.3 12.8 4.0 0.1 2.7 4.4 15.3 4

 5 Rest of the world -2.8 -1.0 -3.6 -1.8 -0.1 -2.9 3.1 2.3 0.7 1.4 5

 6 Foreign official institutions -1.4 -0.0 -0.9 -0.5 -1.4 -0.5 -0.4 1.0 -1.0 -0.2 6

 7 Foreign banks -1.3 1.0 -2.9 0.0 0.7 -2.7 1.0 0.7 1.2 0.0 7

 8 Other foreign -0.1 -2.1 0.2 -1.3 0.5 0.4 2.5 0.6 0.5 1.6 8

 9 Financial sectors -1.1 13.7 -7.1 2.3 13.2 0.6 4.4 -1.6 -13.0 -11.3 9

10 Finance companies -2.5 12.6 -8.3 1.0 13.2 3.2 7.4 2.0 -13.7 -17.1 10

11 REITs 0.3 0.3 0.5 1.6 1.0 0.3 0.6 -1.3 -0.2 2.5 11

12 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Holding companies 1.1 0.7 0.7 -0.3 -0.9 -2.9 -3.6 -2.4 0.8 3.3 13

14 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Net change in assets 47.1 78.2 2.5 44.7 38.8 -8.4 -40.9 -21.2 -6.5 62.5 15

16 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 U.S.-chartered depository institutions 34.5 56.1 -14.6 23.8 24.7 -17.7 -66.2 -29.4 7.8 44.6 17

18 Foreign banking offices in U.S. 10.5 21.9 17.3 20.4 14.0 6.9 29.3 10.0 -14.0 15.3 18

19 Banks in U.S.-affiliated areas 2.1 0.2 -0.1 0.4 0.1 3.3 -3.0 0.2 -0.5 1.7 19

20 Credit unions 0.0 0.0 0.0 0.0 0.0 -0.9 -1.1 -1.9 0.2 0.9 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.
44 FFA, 1985-1994, December 6, 2012

F.216 Other Loans and Advances

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total other loans and advances 41.6 59.5 62.7 58.9 38.3 40.0 -95.6 11.9 -11.2 62.5 1

 2 U.S. government loans 15.9 9.0 -2.9 -7.8 -2.3 -1.9 -4.9 0.0 -10.5 1.9 2

 3 Liab.: Household sector 7.0 4.4 3.3 3.9 0.5 3.0 2.2 0.7 -4.4 3.2 3

 4 Nonfinancial corporate business -2.6 1.5 0.1 -1.3 -0.3 -0.8 -0.9 -0.1 -1.6 3.8 4

 5 Nonfinancial noncorporate business 0.8 0.5 -0.9 -3.0 0.1 -1.1 -1.2 -0.6 -2.7 0.4 5

 6 State and local governments 8.2 1.4 -2.4 -3.3 -0.2 0.9 0.4 -0.1 -0.7 0.4 6

 7 Rest of the world 1.4 1.5 -2.3 -4.0 -2.3 -3.8 -5.4 0.2 -1.1 -1.1 7

 8 Government-sponsored enterprises 1.1 -0.4 -0.8 0.0 0.0 -0.1 -0.0 -0.0 0.0 -4.8 8

 9 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Foreign loans to U.S. corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 11

12 Liab.: Nonfinancial corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 12

 Customers’ liability on acceptances outstanding

13 Asset: U.S.-chartered depository institutions -11.1 -7.3 -1.0 -3.1 -5.2 -4.1 -4.6 -0.1 -2.4 -0.2 13

14 Foreign banking offices in U.S. 1.6 1.7 6.5 0.7 3.1 -5.7 -5.6 -3.6 -4.0 -2.1 14

15 Liab.: Nonfinancial corporate business -2.1 -0.2 4.4 0.0 3.2 -6.6 -5.9 -2.9 -3.3 -2.1 15

16 Rest of the world -7.4 -5.4 1.0 -2.4 -5.3 -3.2 -4.4 -0.7 -3.1 -0.3 16

17 Holding company loans -0.7 1.5 0.5 -0.3 1.6 -0.2 -1.9 0.4 -1.8 -0.1 17

18 Liab.: Nonfinancial corporate business -0.7 1.5 0.5 -0.3 1.6 -0.2 -1.9 0.4 -1.8 -0.1 18

19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Policy loans (Household liability) -0.1 -0.1 -0.0 -0.0 3.2 4.1 4.8 5.7 5.6 7.8 20

21 Asset: Federal government -0.0 0.2 0.4 -0.7 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 21

22 Life insurance companies -0.1 -0.3 -0.4 0.6 3.2 4.1 4.8 5.7 5.7 7.8 22

23 Govt.-sponsored enterprises loans (1) 10.3 17.6 25.0 18.8 -8.6 -23.1 -34.1 0.6 23.8 23.6 23

24 Liab.: Household sector (SLMA) 0.1 0.0 0.1 -0.0 -0.0 0.3 0.4 -0.2 0.1 0.1 24

25 Nonfinancial corporate business (FCS) -0.3 -0.2 -0.1 -0.2 0.2 0.0 0.1 0.0 0.0 0.1 25

26 Nonfinancial noncorporate business (FCS) -4.6 -2.9 -0.7 -0.5 1.7 0.5 2.7 1.3 1.4 0.7 26

27 U.S.-chartered dep. inst. (FHLB & SLMA) 15.2 20.6 25.8 19.4 -10.5 -23.9 -37.3 -0.6 21.9 22.1 27

28 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 28

29 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 29

30 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 30

31 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 31

32 Finance company loans to business 18.3 15.6 34.3 28.6 23.5 17.4 -4.3 1.1 -15.9 25.9 32

33 Liab.: Nonfinancial corporate business 16.4 14.0 30.8 25.8 21.1 15.6 -3.9 1.0 -14.3 23.3 33

34 Nonfinancial noncorporate business 1.8 1.6 3.4 2.9 2.3 1.7 -0.4 0.1 -1.6 2.6 34

35 Loans to nonfinancial corporate business (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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.
FFA, 1985-1994, December 6, 2012 45

F.217 Total Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in mortgages 259.8 287.0 321.2 322.6 265.1 226.5 147.5 111.0 117.2 164.4 1

 2 Home 179.9 203.3 240.3 223.8 226.4 208.2 164.4 167.4 156.6 177.2 2

 3 Multifamily residential 28.5 33.5 16.9 18.2 10.5 -1.2 -3.3 -13.2 -4.7 0.5 3

 4 Commercial 69.8 60.3 72.3 85.6 30.3 20.6 -13.4 -43.7 -35.3 -14.8 4

 5 Farm -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 5

 6 Net borrowing 259.8 287.0 321.2 322.6 265.1 226.5 147.5 111.0 117.2 164.4 6

 7 Household sector 184.7 203.5 227.9 220.1 232.1 207.4 183.2 179.6 167.0 165.7 7

 8 Nonfinancial business 75.1 83.3 93.0 102.2 32.7 18.5 -36.1 -69.2 -53.4 -11.1 8

 9 Corporate 4.8 15.9 45.5 26.8 1.2 23.2 -8.8 -39.2 -31.3 -6.5 9

10 Noncorporate 70.3 67.4 47.5 75.4 31.4 -4.7 -27.3 -30.0 -22.1 -4.6 10

11 Federal government -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 11

12 REITs 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 12

13 Net change in assets 259.8 287.0 321.2 322.6 265.1 226.5 147.5 111.0 117.2 164.4 13

14 Household sector 4.0 -3.6 14.4 2.3 8.9 10.2 1.8 -5.9 -7.4 -8.5 14

15 Nonfinancial corporate business 5.6 -6.9 1.4 16.6 -13.7 -1.6 6.2 1.1 -7.8 4.1 15

16 Nonfinancial noncorporate business 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 16

17 State and local governments 9.8 11.8 8.7 4.0 6.3 5.3 3.5 -0.0 -5.4 2.2 17

18 Federal government 1.8 0.5 -5.3 -1.1 -0.7 35.6 15.4 -11.9 -15.4 -14.0 18

19 U.S.-chartered depository institutions 105.1 89.6 137.5 142.2 64.1 -37.1 -73.7 -56.3 23.1 65.9 19

20 Foreign banking offices in U.S. 0.1 2.9 5.2 8.1 8.1 15.3 8.8 -2.7 -6.5 -4.8 20

21 Banks in U.S.-affiliated areas 0.2 0.1 0.2 0.6 0.7 0.9 0.6 0.8 1.3 1.6 21

22 Credit unions 3.6 8.2 10.5 8.2 6.8 5.8 4.2 2.9 1.9 5.2 22

23 Property-casualty insurance companies 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 23

24 Life insurance companies 15.1 22.0 18.5 20.5 21.4 13.6 -8.4 -17.5 -18.1 -8.1 24

25 Private pension funds 4.3 -2.8 -3.1 8.5 6.6 1.6 -6.7 -3.7 -1.6 -5.2 25

26 State and local govt. retirement funds 0.1 0.2 -0.2 0.3 -0.3 0.8 0.8 -0.4 -1.9 0.7 26

27 Government-sponsored enterprises (1) 9.6 -12.0 -8.3 5.0 6.0 5.7 11.5 32.1 41.3 3.6 27

28 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 28

29 ABS issuers 6.0 -6.7 13.6 9.0 12.2 13.4 43.5 54.8 36.4 20.3 29

30 Finance companies 8.0 17.5 -4.7 10.3 26.6 11.2 9.5 2.7 -3.1 -19.8 30

31 REITs 2.4 0.0 1.0 1.7 -0.3 -0.7 -0.7 1.1 0.6 4.7 31
46 FFA, 1985-1994, December 6, 2012

F.218 Home Mortgages (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net borrowing 179.9 203.3 240.3 223.8 226.4 208.2 164.4 167.4 156.6 177.2 1

 2 Household sector 181.5 198.8 221.5 215.7 224.9 200.1 174.6 173.1 156.3 166.5 2

 3 Nonfinancial corporate business -1.1 0.0 1.1 1.1 -0.2 1.1 -2.5 -1.6 -0.4 1.3 3

 4 Nonfinancial noncorporate business -0.5 4.5 17.6 7.0 1.7 7.0 -7.7 -4.0 0.7 9.4 4

 5 Net change in assets 179.9 203.3 240.3 223.8 226.4 208.2 164.4 167.4 156.6 177.2 5

 6 Household sector 10.3 0.3 17.8 5.6 9.0 11.3 1.5 -7.4 -9.0 -9.0 6

 7 Nonfinancial corporate business 3.7 3.6 3.9 -1.5 8.9 5.6 3.0 -0.3 -5.2 1.8 7

 8 Nonfinancial noncorporate business 0.6 0.2 -2.3 5.8 -5.5 -2.6 -0.7 0.6 -1.3 0.7 8

 9 State and local governments 5.9 3.9 1.2 2.5 4.7 3.6 2.0 -0.6 -6.0 1.0 9

10 Federal government 0.9 -0.7 -3.3 0.3 0.3 16.6 -0.9 -0.5 -6.0 -3.9 10

11 U.S.-chartered depository institutions 49.1 27.8 80.5 112.0 41.4 -3.2 -39.4 -23.1 32.9 65.1 11

12 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 12

13 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.2 0.2 0.2 -0.0 1.0 1.2 0.6 13

14 Credit unions 3.6 8.2 10.5 8.2 6.8 5.8 4.2 2.9 1.9 5.2 14

15 Life insurance companies -0.5 0.5 0.4 -2.0 1.1 1.4 -2.9 0.5 -2.7 0.1 15

16 Private pension funds 0.7 -0.5 -2.6 1.4 2.6 0.0 -1.5 -0.8 -0.0 0.5 16

17 State and local govt. retirement funds -0.1 -0.6 0.3 -0.1 0.0 0.1 0.2 -0.3 0.1 0.4 17

18 Government-sponsored enterprises 17.2 -5.7 -3.1 6.2 5.1 5.3 11.2 30.3 40.0 3.0 18

19 Agency- and GSE-backed mortgage pools 77.6 159.3 133.4 70.7 120.2 147.3 139.3 117.8 86.1 115.3 19

20 ABS issuers 5.4 -7.4 11.2 7.1 8.5 11.7 38.1 45.5 25.6 15.1 20

21 Finance companies 5.4 14.2 -7.8 7.3 23.1 5.1 10.2 1.1 -2.3 -21.5 21

22 REITs 0.1 -0.0 0.0 0.1 -0.0 -0.0 -0.1 0.8 1.1 2.8 22

 Memo:

23 Home equity loans included above (2) ND ND ND ND ND ND 7.3 -4.9 -6.7 11.4 23

24 U.S.-chartered depository institutions ND ND ND ND ND ND 6.3 -5.3 -5.1 8.0 24

25 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 25

26 Credit unions ND ND ND ND ND ND 1.2 -0.8 -1.3 1.6 26

27 ABS issuers ND ND ND ND ND ND 0.3 0.5 0.6 0.6 27

28 Finance companies 2.6 3.2 4.1 2.3 -13.2 3.0 -0.5 0.7 -0.9 1.2 28

(1) Mortgages on 1-4 family properties including mortages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

F.219 Multifamily Residential Mortgages

Billions of dollars

 1 Net borrowing 28.5 33.5 16.9 18.2 10.5 -1.2 -3.3 -13.2 -4.7 0.5 1

 2 Nonfinancial corporate business 1.4 1.7 0.8 0.9 0.5 -0.1 -0.2 -0.7 -0.3 -0.1 2

 3 Nonfinancial noncorporate business 27.1 31.8 15.9 17.2 9.9 -1.4 -3.3 -12.7 -5.6 -2.6 3

 4 Federal government -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 4

 5 REITs 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 1.2 3.2 5

 6 Net change in assets 28.5 33.5 16.9 18.2 10.5 -1.2 -3.3 -13.2 -4.7 0.5 6

 7 Household sector 0.4 1.0 -2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.2 1.0 2.0 -3.1 2.0 -1.7 -1.0 -0.2 0.1 0.4 8

 9 Nonfinancial noncorporate business 0.7 1.0 -0.9 2.5 -3.2 0.8 -0.6 -0.0 -1.1 0.6 9

10 State and local governments 3.2 7.0 7.0 1.1 1.2 1.0 1.0 0.7 0.4 0.7 10

11 Federal government 0.0 0.7 0.4 0.3 0.5 10.6 8.9 -4.2 -4.5 -2.6 11

12 U.S.-chartered depository institutions 17.6 14.9 6.0 6.5 -0.0 -16.5 -12.4 -9.0 -1.6 -2.1 12

13 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 13

14 Life insurance companies 1.0 1.1 1.6 2.0 2.3 2.1 0.4 -2.1 0.3 0.3 14

15 Private pension funds 1.6 0.3 -1.1 1.1 1.3 -2.8 -0.3 -0.2 -0.0 0.3 15

16 State and local govt. retirement funds -0.0 0.0 -0.4 -0.2 -0.3 -0.2 -0.2 -0.7 -0.1 0.2 16

17 Government-sponsored enterprises 1.9 0.3 -0.3 1.1 2.5 1.2 1.0 1.6 1.7 0.9 17

18 Agency- and GSE-backed mortgage pools 1.5 5.1 4.5 5.2 4.1 3.0 -2.6 -2.3 -1.4 -0.0 18

19 ABS issuers 0.0 0.2 0.4 0.4 -0.0 -0.1 2.9 2.8 1.8 1.4 19

20 Finance companies 0.4 0.9 -0.6 0.5 0.2 1.5 -0.2 0.4 -0.0 0.2 20

21 REITs 0.4 0.0 0.3 0.5 -0.1 -0.2 -0.1 0.0 -0.3 0.2 21
FFA, 1985-1994, December 6, 2012 47

F.220 Commercial Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net borrowing 69.8 60.3 72.3 85.6 30.3 20.6 -13.4 -43.7 -35.3 -14.8 1

 2 Household sector 3.2 4.7 6.3 4.4 7.2 7.2 8.6 6.6 10.7 -0.8 2

 3 Nonfinancial corporate business 5.8 14.9 44.0 25.1 1.0 22.1 -6.2 -37.0 -30.8 -8.1 3

 4 Nonfinancial noncorporate business 60.7 40.5 21.7 55.9 21.9 -9.1 -16.0 -13.6 -17.5 -12.5 4

 5 REITs 0.0 0.2 0.2 0.2 0.2 0.4 0.3 0.4 2.4 6.6 5

 6 Net change in assets 69.8 60.3 72.3 85.6 30.3 20.6 -13.4 -43.7 -35.3 -14.8 6

 7 Household sector 0.9 -1.1 1.9 -0.8 0.9 -0.7 -0.1 0.9 0.9 -0.1 7

 8 Nonfinancial corporate business 2.0 -11.5 -4.6 21.3 -24.7 -5.5 4.2 1.5 -2.6 2.0 8

 9 Nonfinancial noncorporate business 3.4 -0.5 -3.6 1.6 -4.0 -2.2 -3.7 -1.4 -0.9 0.5 9

10 State and local governments 0.7 0.7 0.6 0.4 0.4 0.7 0.6 -0.1 0.2 0.5 10

11 Federal government 0.3 0.2 -1.8 -1.3 -0.9 9.0 7.7 -6.6 -4.5 -7.3 11

12 U.S.-chartered depository institutions 38.3 45.9 49.6 23.0 21.7 -17.8 -22.8 -25.3 -9.0 1.6 12

13 Foreign banking offices in U.S. 0.1 2.9 5.2 8.1 8.1 15.3 8.8 -2.7 -6.5 -4.8 13

14 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.4 0.5 0.7 0.7 -0.2 0.1 0.9 14

15 Property-casualty insurance companies 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 15

16 Life insurance companies 16.5 21.4 17.6 20.8 17.9 9.6 -5.6 -15.1 -16.0 -8.5 16

17 Private pension funds 1.9 -2.6 0.6 5.9 2.7 4.3 -4.9 -2.7 -1.5 -6.0 17

18 State and local govt. retirement funds 0.2 0.8 -0.1 0.5 -0.1 0.9 0.8 0.6 -1.9 0.1 18

19 Agency- and GSE-backed mortgage pools 0.0 0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 19

20 ABS issuers 0.6 0.6 2.0 1.5 3.7 1.8 2.4 6.5 9.0 3.8 20

21 Finance companies 2.1 2.3 3.6 2.5 3.3 4.6 -0.6 1.2 -0.8 1.5 21

22 REITs 1.9 0.0 0.7 1.1 -0.2 -0.5 -0.5 0.3 -0.3 1.7 22

F.221 Farm Mortgages (1)

Billions of dollars

 1 Net borrowing -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 1

 2 Nonfinancial corporate business -1.3 -0.7 -0.5 -0.3 -0.1 0.0 0.1 0.1 0.2 0.4 2

 3 Nonfinancial noncorporate business -17.1 -9.3 -7.7 -4.6 -2.0 -1.2 -0.3 0.3 0.3 1.0 3

 4 Net change in assets -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 4

 5 Household sector -7.5 -3.8 -3.2 -2.5 -1.0 -0.4 0.4 0.6 0.7 0.7 5

 6 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 -0.1 -0.1 -0.0 -0.1 0.0 6

 7 State and local governments 0.0 0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 7

 8 Federal government 0.6 0.3 -0.5 -0.4 -0.6 -0.7 -0.4 -0.6 -0.5 -0.3 8

 9 U.S.-chartered depository institutions 0.1 1.0 1.4 0.6 1.0 0.4 0.8 1.1 0.7 1.3 9

10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Life insurance companies -1.9 -0.9 -1.0 -0.4 0.0 0.5 -0.2 -0.7 0.2 0.0 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 12

13 Government-sponsored enterprises -9.5 -6.5 -4.9 -2.3 -1.5 -0.9 -0.7 0.1 -0.5 -0.3 13

14 Agency- and GSE-backed mortgage pools -0.2 -0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 14

(1) Excludes mortgages on farm houses.
48 FFA, 1985-1994, December 6, 2012

F.222 Consumer Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities (Households) 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 1

 2 Net change in assets 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 2

 3 Nonfinancial corporate business 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 6.9 9.4 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal government (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.5 5

 6 U.S.-chartered depository institutions 51.8 28.3 16.3 28.1 18.3 -14.2 -19.3 -12.1 33.3 63.7 6

 7 Credit unions 6.1 3.1 4.0 7.3 3.3 -0.1 -1.3 1.4 9.9 18.0 7

 8 Government-sponsored enterprises 1.2 1.4 1.9 3.2 2.8 3.2 1.9 3.1 2.6 3.6 8

 9 ABS issuers 0.0 0.0 0.0 0.0 20.2 29.3 26.3 17.3 10.2 15.6 9

10 Finance companies 20.7 18.6 3.1 1.2 -0.7 -6.5 -12.2 -3.3 -1.9 18.3 10

(1) Includes loans originated by the Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that

 the government purchased from depository institutions and finance companies.

F.223 Trade Credit

Billions of dollars

 1 Net change in trade payables 66.0 21.4 73.5 91.9 62.9 41.6 43.3 59.1 68.8 108.5 1

 2 Household sector 3.1 2.3 4.7 2.4 16.2 9.3 9.4 5.9 6.0 5.2 2

 3 Nonfinancial corporate business 42.5 -2.0 44.4 54.1 21.6 28.3 23.1 33.4 36.5 77.4 3

 4 Nonfinancial noncorporate business -1.3 -2.1 5.1 7.1 2.5 -0.1 -1.0 6.3 1.5 7.4 4

 5 State and local governments 8.7 9.8 10.2 10.9 11.8 12.9 13.7 14.4 15.1 16.0 5

 6 Federal government 10.6 14.6 7.5 8.0 8.6 -5.8 -5.5 -2.8 3.0 -0.2 6

 7 Rest of the world -0.2 -0.8 2.5 7.7 2.8 -1.2 3.1 1.4 4.1 3.6 7

 8 Brokers and dealers 2.5 -0.4 -0.8 1.7 -0.5 -1.9 0.7 0.6 2.7 -0.9 8

 9 Net change in trade receivables 60.5 16.0 82.5 118.1 62.9 49.6 -5.0 37.0 62.1 100.5 9

10 Nonfinancial corporate business 45.2 2.1 63.9 90.6 42.1 29.2 -5.8 27.6 50.7 71.9 10

11 Nonfinancial noncorporate business 4.5 8.0 1.4 12.0 6.8 2.7 -1.1 7.1 4.9 16.3 11

12 State and local governments 3.8 0.9 3.8 4.8 3.5 2.4 2.4 3.1 3.6 5.4 12

13 Federal government 3.7 -2.3 8.0 0.1 3.2 -1.7 -4.6 -6.7 -2.4 -3.8 13

14 Rest of the world 0.2 1.4 0.1 2.1 2.6 6.3 -1.8 1.7 1.0 1.5 14

15 Property-casualty insurance companies 2.2 4.9 3.6 6.8 2.8 2.0 1.9 -0.1 1.7 2.2 15

16 ABS issuers 0.9 0.9 1.8 1.7 1.9 8.7 4.1 4.3 2.6 6.8 16

17 Discrepancy 5.6 5.5 -9.0 -26.2 0.0 -8.0 48.3 22.1 6.7 8.0 17

F.224 Security Credit

Billions of dollars

 1 Net change in liabilities 43.3 9.9 -27.4 3.0 15.6 3.5 51.4 4.6 61.4 -0.1 1

 2 Household sector 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 24.5 3.2 -11.1 1.3 16.6 7.2 35.2 6.2 38.7 1.0 4

 5 Customer credit balances (HH) 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 5

 6 From U.S.-chartered depository institutions 6.8 -5.9 -3.2 -0.4 4.2 -5.4 2.2 3.1 4.1 -4.6 6

 7 From foreign banking offices in U.S. 4.2 0.1 -2.1 -0.1 0.1 3.4 8.4 13.9 8.6 -1.2 7

 8 Net change in assets 43.3 9.9 -27.4 3.0 15.6 3.5 51.4 4.6 61.4 -0.1 8

 9 Household sector 13.5 9.0 -5.8 1.8 12.3 9.2 24.6 -10.8 26.0 6.7 9

10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 U.S.-chartered depository institutions 6.8 -5.9 -3.2 -0.4 4.2 -5.4 2.2 3.1 4.1 -4.6 11

12 Foreign banking offices in U.S. 4.2 0.1 -2.1 -0.1 0.1 3.4 8.4 13.9 8.6 -1.2 12

13 Brokers and dealers 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 13
FFA, 1985-1994, December 6, 2012 49

F.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Life insurance reserves:

 1 Net change in liabilities 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 1

 2 Federal government 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 2

 3 Life insurance companies 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 3

 4 Net change in assets 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 4

 5 Households 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 5

 6 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 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 Pension fund reserves:

 8 Net change in liabilities 233.6 188.0 167.8 217.3 200.4 191.8 222.5 202.1 291.0 290.6 8

 9 Life insurance companies 55.6 63.4 30.9 69.2 52.3 79.7 38.8 82.4 81.4 45.5 9

10 Private pension funds (1) 84.5 27.0 37.1 68.5 61.8 27.3 91.5 13.1 105.0 141.2 10

11 State and local govt. retirement funds 53.6 68.1 68.5 45.1 49.6 48.6 50.7 62.6 62.8 60.9 11

12 Federal government retirement funds (2) 39.9 29.6 31.4 34.4 36.7 36.2 41.5 44.0 41.8 43.0 12

13 Net change in assets (Households) (3) 233.6 188.0 167.8 217.3 200.4 191.8 222.5 202.1 291.0 290.6 13

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(3) Excludes all individual retirement accounts (IRAs) (table F.225.i), except those at life insurance companies.

F.226 Taxes Payable by Businesses

Billions of dollars

 1 Net change in taxes payable by all 1.3 6.9 3.6 0.8 -2.1 2.1 -7.9 7.3 5.8 0.2 1

 businesses

 2 Nonfinancial corporate business -3.2 3.8 5.1 -3.5 -6.1 0.0 -9.4 6.5 5.4 -0.4 2

 3 Nonfinancial noncorporate business 3.4 1.7 0.6 2.9 4.7 0.6 0.5 0.6 -1.7 1.4 3

 4 U.S.-chartered depository institutions 0.2 0.3 -2.4 0.2 -1.3 -0.1 -1.4 -0.2 -2.9 -2.0 4

 5 Property-casualty insurance companies 0.1 0.2 0.5 0.3 -0.7 0.7 0.7 -1.7 2.1 -0.4 5

 6 Life insurance companies 0.4 0.7 0.2 0.5 0.9 0.5 1.1 1.4 1.6 1.0 6

 7 Finance companies 0.0 0.0 0.3 0.2 0.4 0.4 0.5 0.6 0.8 0.8 7

 8 Brokers and dealers 0.3 0.2 -0.6 0.1 0.1 0.1 0.2 0.0 0.5 -0.2 8

 9 Net change in business taxes receivable -2.0 1.0 -5.7 -3.2 -0.8 -5.8 -5.2 -0.5 -5.3 -4.8 9

10 State and local governments 4.0 2.7 0.5 3.6 3.5 -0.5 1.8 -0.1 -2.2 1.4 10

11 Federal government -6.0 -1.7 -6.2 -6.8 -4.3 -5.2 -7.0 -0.4 -3.1 -6.3 11

12 Discrepancy 3.4 5.9 9.3 3.9 -1.3 7.9 -2.7 7.7 11.1 5.0 12

F.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment -14.1 -2.5 -26.1 -30.6 -32.8 23.9 31.1 34.3 50.6 48.6 1

 2 Nonfinancial noncorporate business -14.2 -3.7 -25.3 -30.7 -31.1 24.6 30.6 34.2 49.7 49.7 2

 3 Brokers and dealers 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 3
50 FFA, 1985-1994, December 6, 2012

F.228 Total Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 508.2 215.1 335.3 508.7 585.7 193.0 292.8 331.7 302.8 278.2 1

 2 Household sector 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 2

 3 Nonfinancial corporate business 238.3 42.2 134.6 297.8 289.6 87.6 88.6 77.5 20.9 19.5 3

 4 Nonfinancial noncorporate business 29.8 9.6 -5.8 18.2 22.2 -2.6 3.6 14.0 5.1 16.1 4

 5 Federal government 40.5 32.7 20.9 42.4 50.7 16.3 52.7 39.7 37.8 41.5 5

 6 Rest of the world 7.6 14.8 37.1 18.6 58.1 45.2 38.6 55.7 119.8 91.5 6

 7 Monetary authority 0.1 -1.1 1.0 1.1 -0.6 -1.0 -0.3 -0.4 0.9 0.9 7

 8 U.S.-chartered depository institutions 40.3 26.1 -4.5 50.0 21.5 12.6 -6.8 24.6 22.0 40.8 8

 9 Foreign banking offices in U.S. 2.4 4.8 25.8 14.0 78.0 -3.0 20.9 28.0 28.5 32.0 9

10 Banks in U.S.-affiliated areas 1.7 -2.8 -1.9 0.1 0.3 0.8 -1.6 0.6 1.1 2.3 10

11 Credit unions -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 11

12 Property-casualty insurance companies 37.3 42.7 42.4 31.3 34.0 26.5 15.5 23.1 15.8 16.4 12

13 Life insurance companies 14.0 18.6 38.8 10.3 22.3 4.9 31.2 -8.4 6.3 39.1 13

14 Government-sponsored enterprises 8.8 8.2 -2.4 1.1 6.3 4.6 7.3 12.5 -4.9 -24.9 14

15 Finance companies 13.7 1.0 29.4 17.1 4.9 4.4 16.8 -1.6 11.4 2.3 15

16 REITs 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 16

17 Brokers and dealers 6.9 7.0 1.1 1.8 -6.9 5.0 4.0 13.1 32.0 1.7 17

18 Holding companies 6.1 13.3 6.4 8.1 4.9 -0.4 -15.8 10.0 14.0 -0.3 18

19 Funding corporations 60.4 -1.0 9.9 -6.4 1.6 -7.1 36.7 42.9 -8.7 -5.4 19

20 Net change in assets 343.3 300.9 421.6 496.0 427.5 254.4 325.5 278.2 504.7 547.6 20

21 Household sector 31.3 20.7 28.3 21.0 17.1 20.0 10.7 18.3 13.3 14.7 21

22 Nonfinancial corporate business 123.2 108.1 162.1 231.9 110.1 113.7 40.1 74.7 236.9 161.6 22

23 Nonfinancial noncorporate business 4.7 11.0 2.1 15.1 9.3 -3.2 9.4 5.0 16.1 19.2 23

24 State and local governments 6.0 1.7 3.9 -0.5 1.4 1.5 3.6 -3.3 -34.3 48.6 24

25 Federal government 1.4 0.5 1.3 1.0 15.4 34.3 36.1 15.4 -3.8 3.2 25

26 Rest of the world 24.8 23.4 78.2 73.1 85.7 41.2 71.6 34.6 79.2 55.4 26

27 Monetary authority 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 27

28 U.S.-chartered depository institutions 26.9 13.0 2.7 21.5 6.2 21.4 -11.7 2.0 -5.0 60.9 28

29 Foreign banking offices in U.S. 1.2 6.5 17.7 2.1 66.5 -24.1 14.8 34.9 34.7 38.5 29

30 Banks in U.S.-affiliated areas -0.8 -2.1 -0.6 1.4 0.9 0.1 -0.5 -0.7 -0.4 -0.1 30

31 Credit unions 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 31

32 Property-casualty insurance companies -0.1 0.7 1.8 2.7 1.6 1.4 -0.3 -2.7 2.8 1.7 32

33 Life insurance companies 5.6 7.0 13.0 8.6 8.7 -4.1 11.2 -2.8 -1.0 6.8 33

34 Private pension funds 28.2 19.7 29.5 21.1 5.5 -18.1 31.4 -22.5 -7.1 41.9 34

35 State and local govt. retirement funds 0.1 0.2 -0.1 1.5 4.2 1.6 -3.2 -0.1 -0.4 0.5 35

36 Federal government retirement funds 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 36

37 Money market mutual funds 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 37

38 Mutual funds 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 38

39 Government-sponsored enterprises -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 39

40 Finance companies 2.2 2.2 6.1 2.7 -8.5 -1.9 11.1 -7.0 8.9 -16.2 40

41 REITs 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 41

42 Brokers and dealers 9.7 10.3 -2.7 10.5 23.0 29.4 34.3 52.6 49.6 24.8 42

43 Holding companies 28.5 31.4 27.3 21.1 16.9 3.2 5.9 30.2 44.9 30.6 43

44 Funding corporations 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 44

45 Discrepancy 164.9 -85.7 -86.3 12.7 158.2 -61.4 -32.7 53.5 -201.8 -269.3 45
FFA, 1985-1994, December 6, 2012 51

F.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world 14.8 19.1 31.2 16.1 38.8 32.8 39.1 44.5 84.0 80.2 1

 2 Equity -1.7 1.1 4.9 -6.7 6.4 8.7 17.7 14.6 24.6 33.7 2

 3 Reinvested earnings 19.7 14.0 23.3 18.0 18.5 27.6 23.5 21.9 36.7 31.0 3

 4 Intercompany accounts -3.2 3.9 3.0 4.8 13.9 -3.6 -2.1 7.9 22.7 15.5 4

 5 Asset: Nonfinancial corporate business 14.3 19.0 29.7 11.8 26.1 35.6 38.1 40.0 57.9 78.5 5

 6 U.S.-chartered depository institutions 0.3 -1.7 -1.2 -0.1 0.2 0.2 -1.0 2.0 2.0 2.6 6

 7 Property-casualty insurance companies -0.1 0.7 1.8 2.7 1.6 1.4 -0.3 -2.7 2.8 1.7 7

 8 Life insurance companies 0.1 -0.2 0.0 0.0 -0.1 0.6 0.6 0.3 -0.1 0.6 8

 9 Finance companies 0.1 1.2 -0.7 2.3 11.0 -5.4 1.3 3.7 20.4 0.7 9

10 Brokers and dealers 0.1 -0.0 1.7 -0.7 0.0 0.3 0.5 1.2 1.0 -3.9 10

 Foreign direct investment in U.S. (1):

11 Liab.: Nonfinancial corporate business 17.5 31.9 52.5 69.8 62.4 59.1 -1.3 6.7 20.3 46.1 11

12 Nonfinancial noncorporate business 0.6 1.1 0.6 0.8 1.4 0.7 -0.0 0.1 0.0 0.0 12

13 Foreign banking offices in U.S. 1.4 1.6 1.7 2.7 2.3 0.9 2.6 2.7 2.2 3.4 13

14 Property-casualty insurance companies 0.3 0.5 1.0 1.2 2.2 2.5 3.5 0.5 0.7 1.8 14

15 Life insurance companies 0.7 2.2 0.9 1.3 1.4 1.9 1.0 1.2 0.2 1.0 15

16 Finance companies -0.5 2.1 -0.2 -0.5 7.2 -3.5 1.3 1.7 7.1 0.4 16

17 Brokers and dealers -0.3 0.6 2.1 0.9 1.4 0.1 2.0 0.0 16.5 0.9 17

18 Funding corporations 0.0 -4.4 -0.1 -18.5 -10.0 -13.2 14.2 6.9 4.3 -7.5 18

19 Asset: Rest of the world 19.7 35.4 58.5 57.7 68.3 48.5 23.2 19.8 51.4 46.1 19

20 Equity 15.2 25.1 34.3 45.0 51.8 56.2 45.8 31.6 29.7 37.2 20

21 Reinvested earnings -0.7 -1.0 -0.5 1.1 -8.1 -14.1 -18.3 -11.6 -7.1 4.9 21

22 Intercompany accounts 5.2 11.3 24.7 11.6 24.6 6.3 -4.3 -0.2 28.8 4.0 22

 Federal government equity in IBRD, etc.:

23 Liab.: Rest of the world 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 23

24 Asset: Federal government 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 24

 Federal Reserve Bank stock:

25 Liab.: Monetary authority 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 25

26 Asset: U.S.-chartered depository institutions 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 26

 Equity in govt.-sponsored enterprises:

27 Liab.: Government-sponsored enterprises 0.8 0.5 1.3 2.0 -0.6 -2.5 -0.7 -0.2 1.6 1.8 27

28 Asset: Nonfin. corporate business (Fannie Mae and FCS) -0.0 -0.0 -0.0 0.0 -0.1 -0.0 0.0 -0.0 0.0 0.0 28

29 Nonfinancial noncorporate (FCS) -0.3 -0.6 -0.5 0.1 -0.7 -0.2 0.2 -0.1 0.3 0.2 29

30 Federal government 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) 1.1 1.2 1.8 1.9 0.2 -2.3 -0.9 -0.1 1.3 1.6 31

32 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 Holding company net transactions with subsidiaries:

34 Liab.: U.S.-chartered depository institutions 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 34

35 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 Finance companies 12.8 8.3 -5.3 -19.6 -1.9 -4.1 -6.4 -0.0 6.4 4.0 37

38 Brokers and dealers 0.1 0.1 11.5 20.1 8.0 -18.5 -5.8 -2.6 8.0 0.7 38

39 Rest of the world 0.5 -1.3 -3.5 -1.7 -1.8 -0.4 5.7 -5.8 2.3 7.8 39

40 Asset: Holding companies 28.6 25.1 26.0 21.8 14.7 -5.7 8.1 28.4 46.7 28.1 40

 NFC investment in finance company subsidiaries:

41 Liab.: Finance companies 4.7 2.1 -6.2 -3.0 0.4 5.5 2.1 2.0 -5.2 2.2 41

42 Asset: Nonfinancial corporate business 4.7 2.1 -6.2 -3.0 0.4 5.5 2.1 2.0 -5.2 2.2 42

 Funding corporations’ investment in subsidiaries:

43 Liab.: Foreign banking offices in U.S. 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 43

44 Brokers and dealers 8.5 3.4 2.4 6.8 -0.2 5.4 10.7 19.2 17.2 16.1 44

45 Asset: Funding corporations 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 45

 Equity investment under Public-Private Inv. Program:

46 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 Asset: Households (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 Federal government 0.0 0.0 0.0 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).
52 FFA, 1985-1994, December 6, 2012

F.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 1

 2 Asset: Federal government -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 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 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 4.5 3.6 -6.6 -1.3 6.9 4.8 1.0 -0.9 -7.0 -7.8 6

 7 Asset: U.S.-chartered depository institutions 4.5 3.6 -6.6 -1.3 6.9 4.8 1.0 -0.9 -7.0 -7.8 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 8

 9 Asset: Life insurance companies 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 9

 Life insurance company reserves:

10 Liab.: Life insurance companies 4.1 4.1 5.3 6.3 5.3 5.6 5.9 8.5 7.6 8.1 10

11 Accident and health 2.3 2.5 2.7 2.9 3.0 3.6 4.8 6.9 6.2 6.6 11

12 Policy dividend accumulation 1.2 0.5 1.0 1.2 1.6 1.3 -0.2 0.6 0.5 0.1 12

13 Contract claims 0.6 1.1 1.6 2.2 0.7 0.7 1.3 1.0 0.9 1.4 13

14 Asset: Household sector 4.1 4.1 5.3 6.3 5.3 5.6 5.9 8.5 7.6 8.1 14

 Policy payables:

15 Liab.: Property-casualty insurance companies 37.0 42.2 41.4 30.1 31.8 24.0 12.0 22.6 15.2 14.5 15

16 Asset: Household sector 27.2 16.7 23.0 14.7 11.8 14.4 4.8 9.8 5.7 6.6 16

17 Nonfinancial corporate business 4.3 18.9 23.5 15.0 14.3 13.4 2.2 13.7 6.9 5.9 17

18 Nonfinancial noncorporate business 5.5 6.6 -5.1 0.4 5.6 -3.7 5.0 -0.9 2.6 2.0 18

 Unallocated insurance company contracts:

19 Liab.: Life insurance companies 0.0 13.9 33.5 1.9 12.3 9.6 20.8 -19.6 -6.9 30.6 19

20 Asset: Private pension funds 0.0 13.9 33.5 1.9 12.3 9.6 20.8 -19.6 -6.9 30.6 20

 Pension fund contributions payable:

21 Liab.: Nonfinancial corporate business 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 21

22 Asset: Private pension funds 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 22

 Securities borrowed (net):

23 Liab.: Funding corporations 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 23

24 Asset: Brokers and dealers 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 24

 Nonmarketable government securities:

25 Liab.: Federal government 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 25

26 Asset: Federal government retirement funds 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 26

 Retiree health care funds (2):

27 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
FFA, 1985-1994, December 6, 2012 53

F.231 Unidentified Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 334.3 27.5 103.6 316.5 345.4 -6.4 87.1 101.5 9.5 -17.4 1

 2 Nonfinancial corporate business 215.0 10.3 80.6 229.2 219.9 22.4 77.9 60.8 -11.8 -38.3 2

 3 Nonfinancial noncorporate business 29.1 8.5 -6.4 17.4 20.9 -3.3 3.6 13.8 5.1 16.1 3

 4 Federal government 0.6 3.2 -9.4 9.6 16.2 -17.1 14.3 -0.1 0.7 3.9 4

 5 Rest of the world -9.1 -3.5 8.0 3.2 20.0 11.4 -8.7 15.6 32.1 1.9 5

 6 Monetary authority -0.1 -1.2 0.8 1.0 -0.8 -1.2 -0.6 -0.8 0.6 0.6 6

 7 U.S.-chartered depository institutions 25.2 8.1 -27.7 27.0 11.1 -4.7 -21.3 -12.2 -8.0 25.3 7

 8 Foreign banking offices in U.S. -1.3 -0.9 16.9 -1.5 73.1 -2.0 18.8 21.4 32.9 29.0 8

 9 Banks in U.S.-affiliated areas 1.7 -2.8 -1.9 0.1 0.3 0.8 -1.6 0.6 1.1 2.3 9

10 Credit unions -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 10

11 Life insurance companies 9.3 -1.6 -0.9 0.9 3.3 -12.2 3.6 1.5 5.3 -0.5 11

12 Government-sponsored enterprises 3.5 4.1 2.9 0.5 -0.0 2.3 6.9 13.5 0.5 -19.0 12

13 Finance companies -3.4 -11.5 41.1 40.2 -0.8 6.4 19.8 -5.3 3.1 -4.3 13

14 REITs 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 14

15 Brokers and dealers -1.4 2.9 -14.9 -26.0 -16.1 17.9 -2.9 -3.5 -9.7 -15.9 15

16 Holding companies 6.1 13.3 6.4 8.1 4.9 -0.4 -15.8 10.0 14.0 -0.3 16

17 Funding corporations 58.9 -1.7 6.9 4.0 -4.4 -26.0 -9.0 -14.6 -56.6 -22.5 17

18 Net change in assets 169.4 113.3 190.0 303.7 187.3 55.0 119.9 48.0 211.4 252.0 18

19 Nonfinancial corporate business 99.9 68.2 115.2 208.0 69.3 59.2 -2.4 19.1 177.3 75.0 19

20 Nonfinancial noncorporate business -0.5 4.9 7.6 14.6 4.4 0.8 4.2 6.0 13.2 17.0 20

21 State and local governments 6.0 1.7 3.9 -0.5 1.4 1.5 3.6 -3.3 -34.3 48.6 21

22 Federal government 0.0 0.0 0.0 0.0 14.3 32.8 33.6 13.9 -5.3 1.7 22

23 Rest of the world 5.0 -12.1 19.7 15.3 17.4 -7.3 48.4 14.8 27.8 9.3 23

24 Monetary authority 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 24

25 U.S.-chartered depository institutions 20.8 9.8 8.6 21.0 -1.2 18.6 -11.1 0.7 -1.6 64.3 25

26 Foreign banking offices in U.S. 1.2 6.5 17.7 2.1 66.5 -24.1 14.8 34.9 34.7 38.5 26

27 Banks in U.S.-affiliated areas -0.8 -2.1 -0.6 1.4 0.9 0.1 -0.5 -0.7 -0.4 -0.1 27

28 Credit unions 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 28

29 Life insurance companies 5.4 8.6 11.8 8.2 8.0 -4.8 11.4 -3.2 -1.4 5.6 29

30 Private pension funds 22.4 5.7 -5.5 20.5 -14.1 -33.8 -1.5 -12.9 -12.6 -0.4 30

31 State and local govt. retirement funds 0.1 0.2 -0.1 1.5 4.2 1.6 -3.2 -0.1 -0.4 0.5 31

32 Money market mutual funds 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 32

33 Mutual funds 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 33

34 Government-sponsored enterprises -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 34

35 Finance companies 2.1 1.0 6.9 0.4 -19.5 3.5 9.8 -10.7 -11.5 -17.0 35

36 REITs 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 36

37 Brokers and dealers 8.1 5.1 -7.5 3.1 6.9 -3.1 2.3 0.8 5.0 4.2 37

38 Holding companies -0.1 6.3 1.3 -0.7 2.2 8.9 -2.2 1.8 -1.8 2.5 38

39 Discrepancy 164.9 -85.7 -86.3 12.7 158.2 -61.4 -32.7 53.5 -201.8 -269.3 39
54 FFA, 1985-1994, December 6, 2012

F.11 Sector Discrepancies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 All sectors 120.9 -126.8 -130.5 9.7 152.5 -167.9 -120.2 -15.2 -288.3 -283.3 1

 2 Household sector -57.4 -180.8 -113.6 -97.3 6.9 -180.7 -51.4 -30.3 -160.8 -122.9 2

 3 Nonfinancial corporate business 165.2 48.2 60.3 129.3 158.4 49.7 9.4 36.3 -103.4 -31.2 3

 4 State and local governments -5.6 -6.4 -1.0 1.9 -28.3 -28.2 -6.1 -20.7 14.0 -70.0 4

 5 Federal government 25.9 21.1 -2.9 37.2 33.3 -22.5 11.9 30.7 10.2 2.8 5

 6 Rest of the world 15.0 26.2 -13.6 -22.4 45.5 31.4 -41.3 -51.1 0.9 -7.1 6

 7 Financial sectors -22.2 -35.1 -59.7 -39.1 -63.3 -17.5 -42.8 19.9 -49.2 -54.9 7

 8 Monetary authority -1.8 -2.6 -2.4 0.0 -1.8 -2.6 -1.0 0.4 -0.8 -3.4 8

 9 U.S.-chartered depository institutions 9.7 0.3 -9.0 23.5 9.4 15.2 -1.5 31.1 -25.5 -33.6 9

10 Foreign banking officed in U.S. -0.3 -0.2 -0.2 -0.0 -0.1 0.2 0.4 0.1 0.7 0.6 10

11 Banks in U.S.-affiliated areas 0.3 -0.2 -0.8 -0.7 -0.3 -0.3 -0.6 -0.6 -0.7 0.3 11

12 Credit unions -0.4 -1.1 -0.8 -0.9 -0.6 -0.4 0.2 1.1 0.9 1.9 12

13 Property-casualty insurance companies -1.8 -4.3 -6.9 -14.9 -13.8 -8.4 -16.7 -16.7 -15.1 -35.3 13

14 Life insurance companies -13.9 -13.6 -18.9 -13.6 -17.9 -12.6 -19.5 -4.5 -30.4 -10.7 14

15 Mutual funds 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 15

16 Government-sponsored enterprises 2.5 0.4 0.5 0.8 -0.3 -3.6 -2.4 -1.6 0.3 -2.2 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 17

18 Finance companies -2.5 -3.8 -8.5 -12.3 -10.7 -1.8 8.8 13.1 2.0 15.3 18

19 REITs 1.0 2.5 0.4 1.9 -0.9 1.9 2.5 1.3 9.4 19.9 19

20 Brokers and dealers -8.2 -9.5 -0.5 -11.9 -13.4 1.1 -12.4 -3.0 8.0 5.1 20

21 Holding companies -8.0 -7.0 -6.6 -6.6 -6.8 -5.2 -3.2 -4.0 -2.2 -1.7 21

F.12 Instrument Discrepancies

Billions of dollars

 1 All types 120.9 -126.8 -130.5 9.7 152.5 -167.9 -120.2 -15.2 -288.3 -283.3 1

 2 Treasury currency -0.2 -0.0 -0.1 -0.1 -0.3 0.2 -0.6 -0.2 -0.2 -0.2 2

 3 Foreign deposits 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 3

 4 Net interbank transactions 0.9 -8.8 -4.2 1.2 0.0 -2.6 20.9 -5.7 6.3 5.1 4

 5 Security RPs -17.6 14.6 -18.4 7.3 8.9 -55.5 -39.1 4.3 42.7 61.7 5

 6 Mail floats 2.1 -9.5 0.4 2.5 6.2 11.8 -8.6 2.2 -2.8 -7.6 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 7

 8 Federal government 1.3 -0.6 -0.0 1.6 8.4 3.3 -13.1 0.7 -1.5 -4.8 8

 9 Private domestic 0.7 -8.9 0.4 0.8 -2.2 8.5 4.5 1.6 -1.3 -2.8 9

10 Trade credit 5.6 5.5 -9.0 -26.2 0.0 -8.0 48.3 22.1 6.7 8.0 10

11 Taxes payable 3.4 5.9 9.3 3.9 -1.3 7.9 -2.7 7.7 11.1 5.0 11

12 Miscellaneous 164.9 -85.7 -86.3 12.7 158.2 -61.4 -32.7 53.5 -201.8 -269.3 12

13 Nonfinancial -43.8 -69.2 -34.4 7.9 -57.8 -86.2 -81.8 -96.4 -144.5 -128.9 13

 Nonfinancial components (sign reversed):

14 Statistical discrepancy (NIPA) 42.3 67.8 32.9 -9.5 56.1 84.2 79.7 110.0 135.8 108.8 14

15 Private wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -15.8 6.4 17.6 15

16 Contr. for govt. soc. insur., U.S. affiliated areas 1.4 1.5 1.5 1.7 1.7 2.0 2.1 2.1 2.2 2.5 16
FFA, 1985-1994, December 6, 2012 55

L.1 Credit Market Debt Outstanding (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total credit market debt owed by: 8612.0 9801.5 10814.8 11856.3 12830.0 13757.1 14412.3 15204.0 16280.2 17373.9 1

 2 Domestic nonfinancial sectors 7110.6 7953.0 8656.1 9437.0 10139.3 10825.1 11295.2 11812.7 12494.8 13141.1 2

 3 Household sector 2277.7 2534.2 2752.5 3039.8 3309.2 3571.6 3758.5 3961.7 4203.5 4527.0 3

 4 Nonfinancial corporate business 1632.1 1860.6 2053.0 2257.3 2448.4 2577.4 2519.7 2540.0 2686.9 2885.0 4

 5 Nonfinancial noncorporate business 933.0 1000.2 1058.2 1142.0 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 5

 6 State and local governments 677.9 752.1 842.6 893.0 940.4 987.4 1078.6 1095.1 1153.0 1107.5 6

 7 Federal government 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 7

 8 Rest of the world 242.5 251.9 259.0 269.8 287.9 318.2 350.4 372.4 468.2 443.1 8

 9 Financial sectors 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 9

10 U.S.-chartered depository institutions 158.3 177.3 207.1 224.9 208.6 178.9 133.8 138.3 159.7 184.1 10

11 Foreign banking offices in U.S. 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 11

12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 12

13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 13

14 Government-sponsored enterprises 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 14

15 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 15

16 ABS issuers 37.2 74.7 118.3 154.4 209.8 269.2 323.0 385.5 468.0 538.3 16

17 Finance companies 241.0 301.5 313.6 337.5 375.0 398.1 411.7 416.6 415.3 452.5 17

18 REITs 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 18

19 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 19

20 Holding companies 118.7 130.0 145.0 149.9 155.2 124.6 118.5 118.4 128.0 141.5 20

21 Funding corporations 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 21

22 Total credit market assets held by: 8612.0 9801.5 10814.8 11856.3 12830.0 13757.1 14412.3 15204.0 16280.2 17373.9 22

23 Domestic nonfinancial sectors 1904.6 2015.3 2224.9 2469.2 2625.6 2930.6 3094.8 3173.8 3316.4 3662.6 23

24 Household sector 967.4 1001.0 1176.4 1381.8 1479.6 1741.2 1824.9 1886.5 1995.5 2377.7 24

25 Nonfinancial corporate business 180.7 175.1 174.3 193.3 225.5 199.4 230.0 257.8 271.5 289.2 25

26 Nonfinancial noncorporate business 49.7 55.4 47.7 58.2 47.1 43.6 38.3 38.1 36.9 43.7 26

27 State and local governments 455.6 525.8 583.6 618.6 664.1 703.4 750.6 752.3 784.9 729.9 27

28 Federal government 251.2 258.0 242.8 217.4 209.4 243.1 251.0 239.0 227.5 222.1 28

29 Rest of the world 419.9 536.4 586.5 689.1 815.8 881.7 909.6 983.1 1095.0 1162.8 29

30 Financial sectors 6287.5 7249.8 8003.4 8698.0 9388.6 9944.7 10408.0 11047.2 11868.8 12548.5 30

31 Monetary authority 186.0 205.5 226.5 241.2 233.3 241.4 272.5 300.4 336.7 368.2 31

32 U.S.-chartered depository institutions 2933.7 3190.3 3409.2 3634.5 3678.8 3633.6 3506.8 3500.4 3627.4 3781.1 32

33 Foreign banking offices in U.S. 117.1 152.0 186.1 215.4 242.2 270.6 319.2 335.8 325.7 337.1 33

34 Banks in U.S.-affiliated areas 13.7 14.6 14.7 15.5 17.1 21.6 19.7 23.4 25.8 29.2 34

35 Credit unions 98.4 113.9 131.3 148.8 156.0 166.6 179.4 197.1 218.7 246.8 35

36 Property-casualty insurance companies 191.8 234.6 274.6 306.0 335.6 364.2 394.1 410.6 443.3 465.6 36

37 Life insurance companies 646.6 734.5 823.1 927.2 1028.3 1134.5 1218.9 1304.4 1415.5 1487.5 37

38 Private pension funds 329.0 333.6 347.2 369.2 420.8 464.3 489.7 515.7 551.9 591.5 38

39 State and local govt. retirement funds 252.4 297.1 328.8 350.5 381.5 402.0 404.6 441.8 468.6 478.7 39

40 Federal government retirement funds 0.0 0.0 1.1 2.7 4.9 7.4 10.0 13.1 16.2 19.9 40

41 Money market mutual funds 178.2 213.1 215.0 225.5 293.7 371.3 403.9 408.6 429.0 459.0 41

42 Mutual funds 129.9 259.9 291.1 304.5 327.2 360.1 440.2 566.4 725.9 718.8 42

43 Closed-end funds 4.1 7.0 11.0 28.8 35.4 36.7 49.5 69.7 89.7 86.0 43

44 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

45 Government-sponsored enterprises 291.0 307.6 330.9 364.2 359.9 373.9 388.9 458.1 546.7 667.9 45

46 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 46

47 ABS issuers 34.8 71.4 113.2 147.6 201.1 250.3 299.5 357.9 437.8 501.0 47

48 Finance companies 353.2 409.9 448.3 493.3 537.3 564.8 572.5 575.0 563.1 595.1 48

49 REITs 8.7 13.7 21.2 25.4 26.0 24.2 23.6 25.0 25.4 24.6 49

50 Brokers and dealers 58.2 66.3 39.8 23.5 103.7 106.5 124.0 122.7 137.5 93.3 50

51 Holding companies 11.8 11.5 13.5 13.4 16.2 13.4 11.9 17.5 17.5 18.4 51

52 Funding corporations 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 109.9 106.6 52

(1) Excludes corporate equities and mutual fund shares.
56 FFA, 1985-1994, December 6, 2012

L.2 Credit Market Debt Owed by Nonfinancial Sectors

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Domestic 7110.6 7953.0 8656.1 9437.0 10139.3 10825.1 11295.2 11812.7 12494.8 13141.1 1

 2 By instrument 7110.6 7953.0 8656.1 9437.0 10139.3 10825.1 11295.2 11812.7 12494.8 13141.1 2

 3 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 3

 4 Treasury securities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 4

 5 Agency- and GSE-backed securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 5

 6 Municipal securities 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 6

 7 Corporate bonds 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 7

 8 Depository institution loans n.e.c. 603.8 669.4 682.6 731.7 774.9 768.7 715.9 697.2 703.1 775.5 8

 9 Other loans and advances 431.1 470.8 502.4 532.3 583.7 653.4 602.3 615.4 586.0 638.5 9

10 Mortgages 2365.3 2652.1 2952.8 3270.0 3522.2 3776.8 3927.5 4037.9 4165.6 4320.2 10

11 Home 1526.2 1729.4 1927.7 2162.1 2368.9 2606.3 2774.3 2941.7 3100.7 3277.9 11

12 Multifamily residential 205.1 238.5 257.3 273.4 285.8 286.0 282.5 269.2 264.7 262.0 12

13 Commercial 540.0 600.1 692.0 763.7 798.8 816.9 803.2 759.1 731.8 710.4 13

14 Farm 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 14

15 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 15

16 By sector 7110.6 7953.0 8656.1 9437.0 10139.3 10825.1 11295.2 11812.7 12494.8 13141.1 16

17 Household sector 2277.7 2534.2 2752.5 3039.8 3309.2 3571.6 3758.5 3961.7 4203.5 4527.0 17

18 Nonfinancial business 2565.1 2860.8 3111.2 3399.3 3638.6 3767.9 3681.7 3675.6 3801.8 4014.3 18

19 Corporate 1632.1 1860.6 2053.0 2257.3 2448.4 2577.4 2519.7 2540.0 2686.9 2885.0 19

20 Noncorporate 933.0 1000.2 1058.2 1142.0 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 20

21 State and local governments 677.9 752.1 842.6 893.0 940.4 987.4 1078.6 1095.1 1153.0 1107.5 21

22 Federal government 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 22

 Foreign credit market debt

23 held in U.S. 242.5 251.9 259.0 269.8 287.9 318.2 350.4 372.4 468.2 443.1 23

24 Commercial paper 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 24

25 Bonds 75.0 85.7 93.9 104.2 116.9 144.7 176.8 200.8 309.7 310.4 25

26 Depository institution loans n.e.c. 27.9 26.9 23.3 21.5 21.4 18.5 21.6 23.9 24.6 26.1 26

27 Other loans and advances 105.6 101.8 100.6 94.1 86.5 79.7 69.9 69.3 65.2 63.9 27

28 Domestic and foreign 7353.1 8204.9 8915.1 9706.8 10427.2 11143.3 11645.5 12185.1 12963.0 13584.2 28

L.3 Credit Market Debt Owed by Financial Sectors

Billions of dollars

 1 By instrument 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 1

 2 Open market paper 252.4 284.6 322.9 377.7 409.1 417.7 385.3 393.5 393.4 441.6 2

 3 GSE issues 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 3

 4 Agency- and GSE-backed mortgage pool sec. 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 4

 5 Corporate bonds 233.1 325.4 404.0 456.1 525.5 580.0 651.9 741.2 861.4 976.9 5

 6 Depository institution loans n.e.c. 46.2 59.9 52.8 55.1 68.4 69.0 73.4 71.8 58.8 47.5 6

 7 Other loans and advances 99.0 119.3 144.3 163.7 153.3 129.2 91.9 91.3 113.7 131.6 7

 8 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 8

 9 By sector 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 9

10 U.S.-chartered depository institutions 158.3 177.3 207.1 224.9 208.6 178.9 133.8 138.3 159.7 184.1 10

11 Foreign banking offices in U.S. 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 11

12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 12

13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 13

14 Government-sponsored enterprises 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 14

15 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 15

16 ABS issuers 37.2 74.7 118.3 154.4 209.8 269.2 323.0 385.5 468.0 538.3 16

17 Finance companies 241.0 301.5 313.6 337.5 375.0 398.1 411.7 416.6 415.3 452.5 17

18 REITs 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 18

19 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 19

20 Holding companies 118.7 130.0 145.0 149.9 155.2 124.6 118.5 118.4 128.0 141.5 20

21 Funding corporations 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 21
FFA, 1985-1994, December 6, 2012 57

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total 8612.0 9801.5 10814.8 11856.3 12830.0 13757.1 14412.3 15204.0 16280.2 17373.9 1

 2 Open market paper 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 2

 3 Treasury securities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 3

 4 Agency- and GSE-backed securities 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 4

 5 Municipal securities 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 5

 6 Corporate and foreign bonds 886.4 1116.4 1282.0 1447.6 1603.5 1732.8 1915.6 2096.5 2509.0 2715.8 6

 7 Depository institution loans n.e.c. 678.0 756.2 758.7 808.3 864.7 856.2 811.0 793.0 786.5 849.1 7

 8 Other loans and advances 635.8 691.9 747.3 790.2 823.5 862.3 764.1 776.0 764.9 833.9 8

 9 Mortgages 2367.9 2654.9 2955.9 3273.4 3526.0 3781.1 3932.3 4043.3 4174.6 4339.0 9

10 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 10

 Memo:

 Selected claims not included above:

11 Corporate equities 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 11

12 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 12

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

Billions of dollars

 Total credit market debt

 1 (from table L.4) 8612.0 9801.5 10814.8 11856.3 12830.0 13757.1 14412.3 15204.0 16280.2 17373.9 1

 2 U.S. official reserve assets 37.5 43.4 41.7 43.3 70.0 79.2 73.7 67.0 69.1 70.4 2

 3 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 3

 4 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 4

 5 Foreign deposits 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 5

 6 Net interbank liabilities -0.9 21.6 52.2 56.3 46.0 74.6 72.4 107.8 162.3 268.3 6

 7 Checkable deposits and currency 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 7

 8 Small time and savings deposits 1853.1 1978.9 2048.3 2187.4 2285.3 2349.2 2350.8 2293.6 2223.2 2185.8 8

 9 Large time deposits 488.5 492.1 541.9 595.1 613.0 546.9 488.4 415.2 391.7 411.2 9

10 Money market fund shares 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 10

11 Security RPs 220.1 267.8 264.4 289.1 359.8 336.1 327.0 366.9 437.0 512.3 11

12 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 12

13 Security credit 131.2 141.1 115.3 118.3 133.9 137.4 188.9 217.7 279.0 279.0 13

14 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 14

15 Pension fund reserves 2088.6 2326.8 2504.8 2738.3 3169.0 3310.3 3830.6 4139.4 4617.5 4898.3 15

16 Trade payables 752.4 760.8 834.3 934.2 997.2 1038.8 1084.7 1143.8 1212.5 1321.0 16

17 Taxes payable 69.4 76.3 80.0 80.8 78.7 80.9 73.0 80.2 86.0 86.2 17

18 Miscellaneous 3023.4 3163.5 3436.7 3867.5 4249.1 4433.5 4771.4 5203.6 5564.7 5874.3 18

19 Total liabilities 18907.9 21111.0 22913.2 25071.4 27394.3 28896.3 30718.5 32645.9 35291.9 37518.5 19

 + Financial assets not included in

 liabilities:

20 Gold 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 20

21 Corporate equities 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 21

22 Household equity in noncorp. bus. 2498.8 2627.0 2718.5 2862.4 2983.5 3096.8 3051.1 3027.4 3170.9 3385.7 22

 - Liabilities not identified as assets:

23 Treasury currency -3.8 -3.8 -4.0 -4.1 -4.3 -4.1 -4.7 -4.9 -5.1 -5.3 23

24 Foreign deposits 105.8 129.9 165.9 167.1 214.2 243.1 221.1 216.1 231.6 323.7 24

25 Net interbank transactions -44.8 -55.1 -60.2 -59.4 -58.5 -60.3 -38.5 -44.4 -38.5 -32.8 25

26 Security RPs 51.7 63.7 50.7 61.5 70.4 15.0 -24.1 -18.8 23.9 85.6 26

27 Taxes payable 31.3 28.4 30.8 22.6 17.7 21.8 18.1 26.5 31.1 30.1 27

28 Miscellaneous 128.0 -73.9 -233.0 -368.5 -420.7 -416.0 -456.6 -304.2 -488.1 -745.3 28

 - Floats not included in assets:

29 Checkable deposits: State and local govt. 5.3 5.3 5.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Federal govt. 1.7 2.7 6.0 5.9 6.7 15.0 3.8 6.8 5.6 3.4 30

31 Private domestic 32.0 23.0 23.4 24.3 22.1 30.5 35.1 36.6 35.4 32.6 31

32 Trade credit -190.2 -200.7 -209.7 -227.9 -227.8 -235.9 -185.0 -162.9 -151.6 -143.6 32

33 Totals identified to sectors as assets 23571.3 26511.7 28577.9 31398.8 34582.1 35926.3 39059.1 41355.5 45126.5 47684.2 33
58 FFA, 1985-1994, December 6, 2012

L.10 Assets and Liabilities of the Personal Sector (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 7801.1 8844.7 9392.8 10434.0 11648.0 11993.6 13602.1 14488.1 15756.2 16337.8 1

 2 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 2

 3 Checkable deposits and currency 416.6 536.3 536.1 540.3 543.2 534.0 590.3 707.1 761.4 742.6 3

 4 Time and savings deposits 2042.5 2144.8 2257.8 2439.7 2515.3 2563.1 2494.0 2393.2 2281.9 2248.6 4

 5 Money market fund shares 196.3 238.4 259.1 278.3 356.9 396.1 415.1 375.3 374.3 388.2 5

 6 Securities 2300.9 2772.6 2953.8 3466.6 4021.4 4085.7 5098.7 5656.3 6416.3 6667.9 6

 7 Open market paper 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 7

 8 U.S. savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 8

 9 Treasury bills and other Treasury securities 208.2 188.4 216.9 294.3 289.1 390.3 409.6 483.1 514.9 709.4 9

10 Agency- and GSE-backed securities 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.6 10

11 Municipal securities 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 642.3 595.7 11

12 Corporate and foreign bonds 94.7 127.8 144.6 135.1 178.1 237.6 270.9 283.2 428.8 534.8 12

13 Corporate equities (2) 1229.5 1494.0 1462.6 1757.1 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 13

14 Mutual fund shares 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 14

15 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 15

16 Pension fund reserves 2088.6 2326.8 2504.8 2738.3 3169.0 3310.3 3830.6 4139.4 4617.5 4898.3 16

17 Life insurance companies 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 17

18 Private pension funds 1250.9 1316.6 1386.0 1432.2 1663.3 1658.5 1959.7 2062.8 2308.3 2473.3 18

19 Governments 577.3 682.3 770.2 870.7 1010.2 1082.1 1249.7 1383.3 1534.1 1628.3 19

20 Miscellaneous and other assets 484.0 534.5 562.0 624.5 665.3 699.2 740.3 753.5 804.2 853.0 20

21 Total liabilities 3519.9 3846.5 4107.2 4521.5 4885.4 5146.2 5335.1 5537.4 5793.3 6160.4 21

22 Home mortgages 1518.9 1722.1 1919.2 2152.5 2359.5 2595.7 2766.3 2935.3 3094.7 3270.6 22

23 Other mortgages 677.1 744.7 780.9 862.5 899.5 895.1 884.1 864.7 852.6 837.8 23

24 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 24

25 Policy loans 55.5 55.4 55.3 55.3 58.4 62.5 67.3 73.0 78.6 86.4 25

26 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 26

27 Other liabilities 607.1 600.5 611.3 662.5 716.1 729.7 746.8 786.2 805.1 869.4 27

(1) Combined statement for households and nonprofit organizations and nonfinancial noncorporate business.

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual funds (line 14) and life insurance and pension reserves (lines 15, 16, 17, and 18).
FFA, 1985-1994, December 6, 2012 59

L.100 Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 9994.9 11129.9 11775.2 12908.9 14236.9 14695.0 16249.0 17084.3 18467.2 19202.2 1

 2 Deposits 2550.9 2808.3 2943.9 3136.9 3292.1 3365.7 3368.0 3330.6 3265.0 3209.7 2

 3 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 3

 4 Checkable deposits and currency 344.8 461.9 460.8 460.5 462.2 450.8 505.0 616.4 667.5 636.3 4

 5 Time and savings deposits 2001.9 2102.5 2217.4 2392.7 2466.9 2512.1 2440.8 2333.0 2218.3 2181.4 5

 6 Money market fund shares 196.3 235.1 256.0 273.0 351.1 389.4 407.7 365.5 363.5 373.1 6

 7 Credit market instruments 967.4 1001.0 1176.4 1381.8 1479.6 1741.2 1824.9 1886.5 1995.5 2377.7 7

 8 Open market paper 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 8

 9 Treasury securities 282.2 270.9 308.2 393.5 394.9 504.0 535.5 627.3 673.2 871.0 9

10 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 10

11 Bills and other Treasury securities 202.5 177.6 207.1 283.9 277.2 377.8 397.4 470.1 501.3 691.1 11

12 Agency- and GSE-backed securities 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.6 12

13 Municipal securities 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 640.8 594.1 13

14 Corporate and foreign bonds 94.7 127.8 144.6 135.1 178.1 237.6 270.9 283.2 428.8 534.8 14

15 Other loans and advances (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Mortgages 115.5 111.9 119.5 121.8 130.7 140.9 142.7 136.8 129.4 120.5 16

17 Corporate equities (3) 1229.5 1494.0 1462.6 1757.1 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 17

18 Mutual fund shares 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 18

19 Security credit 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 19

20 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 20

21 Pension fund reserves 2088.6 2326.8 2504.8 2738.3 3169.0 3310.3 3830.6 4139.4 4617.5 4898.3 21

22 Equity in noncorporate business 2498.8 2627.0 2718.5 2862.4 2983.5 3096.8 3051.1 3027.4 3170.9 3385.7 22

23 Miscellaneous assets 146.7 167.4 195.8 216.7 233.9 253.8 264.5 282.8 296.1 310.8 23

24 Total liabilities 2367.9 2632.1 2840.7 3140.2 3425.5 3693.6 3905.5 4113.0 4383.9 4712.1 24

25 Credit market instruments 2277.7 2534.2 2752.5 3039.8 3309.2 3571.6 3758.5 3961.7 4203.5 4527.0 25

26 Home mortgages (4) 1449.6 1648.3 1827.9 2054.2 2259.5 2488.8 2667.0 2840.0 2998.7 3165.3 26

27 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 27

28 Municipal securities 81.3 78.4 78.1 79.6 82.7 85.7 89.5 91.9 93.0 96.1 28

29 Depository institution loans n.e.c. (5) 25.4 22.9 24.1 22.5 13.4 13.9 11.6 17.4 26.0 34.6 29

30 Other loans and advances 72.2 75.0 74.3 75.7 74.3 81.7 89.1 95.3 96.6 107.7 30

31 Commercial mortgages 38.6 43.2 49.5 62.7 70.0 77.2 85.8 92.3 103.0 102.2 31

32 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 32

33 Trade payables 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 33

 Deferred and unpaid

34 life insurance premiums 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 34

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

 outstandings of nonprofit organizations.

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

(3) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 18) and life insurance and pension reserves (lines 20 and 21).

(4) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 23.

(5) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.108, line 19.
60 FFA, 1985-1994, December 6, 2012

L.101 Nonfinancial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 2774.6 2978.8 3204.3 3634.6 3871.0 3980.8 4114.4 4303.9 4679.8 5012.1 1

 2 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 2

 3 Checkable deposits and currency 198.3 202.4 212.9 231.4 241.7 250.1 259.1 260.3 284.2 308.3 3

 4 Time and savings deposits 109.9 127.8 126.3 129.2 129.0 125.6 130.8 136.2 155.6 163.5 4

 5 Money market fund shares 14.5 18.1 18.9 15.6 16.2 26.3 31.5 47.3 44.8 52.2 5

 6 Security RPs 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 6

 7 Credit market instruments 230.4 230.5 222.0 251.5 272.6 242.9 268.3 296.0 308.5 332.9 7

 8 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 8

 9 Treasury securities 46.9 51.1 41.6 38.3 63.4 50.2 55.7 73.6 62.4 69.2 9

10 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 10

11 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 56.2 58.3 11

12 Mortgages 101.0 94.8 89.4 116.0 89.5 83.8 85.0 85.2 74.1 80.2 12

13 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 13

14 Mutual fund shares 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 14

15 Trade receivables 803.1 816.3 881.6 984.2 1033.1 1065.0 1058.1 1092.8 1143.8 1232.0 15

16 Miscellaneous assets 1388.1 1543.6 1710.0 1985.4 2149.4 2244.3 2333.7 2429.3 2696.2 2874.2 16

17 Total liabilities 4473.0 4723.9 5051.0 5583.2 6002.8 6192.4 6270.1 6544.9 6809.4 7088.1 17

18 Credit market instruments 2565.1 2860.8 3111.2 3399.3 3638.6 3767.9 3681.7 3675.6 3801.8 4014.3 18

19 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 19

20 Municipal securities 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 20

21 Corporate bonds 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 21

22 Depository institution loans n.e.c. 578.4 646.5 658.5 709.2 761.5 754.9 704.3 679.9 677.1 740.9 22

23 Other loans and advances 332.1 368.5 403.2 447.7 500.6 562.1 503.2 510.2 480.3 521.2 23

24 Mortgages 877.1 960.5 1075.4 1153.1 1192.8 1210.8 1174.7 1105.6 1063.9 1052.8 24

25 Trade payables 547.0 529.9 579.3 640.9 665.0 693.3 717.9 757.5 795.6 880.4 25

26 Taxes payable 60.6 66.1 71.7 71.1 69.7 70.3 61.4 68.5 72.1 73.1 26

27 Miscellaneous liabilities 1300.3 1267.1 1288.8 1471.9 1629.5 1660.9 1809.1 2043.3 2139.9 2120.3 27

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
FFA, 1985-1994, December 6, 2012 61

L.102 Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 2473.5 2642.5 2873.4 3252.8 3481.2 3589.3 3714.9 3877.7 4226.0 4495.9 1

 2 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 2

 3 Checkable deposits and currency 126.5 128.1 137.7 151.6 160.7 166.9 173.8 169.6 190.2 202.1 3

 4 Time and savings deposits 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 4

 5 Money market fund shares 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 5

 6 Security RPs 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 6

 7 Credit market instruments 180.7 175.1 174.3 193.3 225.5 199.4 230.0 257.8 271.5 289.2 7

 8 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 8

 9 Treasury securities 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 9

10 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 10

11 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 11

12 Mortgages 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 12

13 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 13

14 Mutual fund shares 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 14

15 Trade receivables 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 15

16 Miscellaneous assets 1312.9 1457.5 1621.9 1882.1 2036.8 2135.1 2215.1 2305.7 2556.5 2715.3 16

17 U.S. direct investment abroad (1) 377.1 402.3 462.5 484.7 497.9 556.2 580.3 586.4 607.1 685.6 17

18 Insurance receivables 64.2 83.1 106.6 121.6 136.0 149.3 151.5 165.2 172.1 178.0 18

19 Equity in GSEs 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 19

20 Investment in finance company subs. 16.7 18.7 12.5 9.5 9.9 15.5 17.6 19.6 14.4 16.6 20

21 Other 854.7 953.1 1040.0 1266.1 1392.9 1414.0 1465.5 1534.4 1762.7 1834.9 21

22 Total liabilities 3321.0 3509.5 3784.5 4201.8 4542.8 4739.8 4840.4 5120.5 5400.0 5639.7 22

23 Credit market instruments 1632.1 1860.6 2053.0 2257.3 2448.4 2577.4 2519.7 2540.0 2686.9 2885.0 23

24 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 24

25 Municipal securities (2) 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 25

26 Corporate bonds (1) 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 26

27 Depository institution loans n.e.c. 447.0 514.5 517.8 559.2 598.8 588.2 537.6 510.4 503.2 551.7 27

28 Other loans and advances (3) 238.2 275.5 308.4 353.8 402.7 463.1 405.6 411.8 384.8 422.0 28

29 Mortgages 169.3 185.3 252.7 255.0 263.2 285.9 277.1 237.9 218.3 211.8 29

30 Trade payables 480.4 478.4 522.8 577.0 598.5 626.9 650.1 683.5 720.0 797.4 30

31 Taxes payable 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 31

32 Miscellaneous liabilities 1169.5 1127.7 1160.8 1323.2 1457.6 1497.2 1641.7 1861.7 1952.3 1917.0 32

33 Foreign direct investment in U.S. 210.9 254.1 316.7 394.3 454.6 513.3 511.3 523.6 545.3 598.1 33

34 Pension fund contributions payable 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 34

35 Other 939.9 854.9 823.8 909.8 976.7 951.6 1086.0 1283.7 1340.4 1240.6 35

 Memo:

36 Trade receivables net of payables 258.9 263.0 282.5 318.9 339.4 340.3 311.3 305.5 315.0 309.6 36

37 Market value of equities 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 37

38 Securities and mortgages 874.6 1007.8 1153.0 1258.6 1339.8 1409.3 1478.0 1510.7 1681.1 1772.0 38

39 Loans and short-term paper 757.5 852.8 900.0 998.7 1108.6 1168.2 1041.7 1029.3 1005.8 1113.0 39

40 Total short-term liabilities (4) 1276.9 1374.1 1470.7 1620.0 1745.4 1833.3 1720.7 1748.1 1766.6 1950.7 40

41 Total liquid assets (5) 321.7 346.4 340.7 345.8 388.2 367.1 416.5 457.2 504.9 530.7 41

 Analytical measures (percent)

42 Long-term debt/credit market debt 53.6 54.2 56.2 55.8 54.7 54.7 58.7 59.5 62.6 61.4 42

43 Short-term debt/credit market debt 46.4 45.8 43.8 44.2 45.3 45.3 41.3 40.5 37.4 38.6 43

44 Liquid assets/short-term liabilities 25.2 25.2 23.2 21.3 22.2 20.0 24.2 26.2 28.6 27.2 44

(1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

(2) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

(3) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table L.216.

(4) Sum of lines 24, 27, 28, 30, and 31. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(5) Sum of lines 2 through 6, lines 8 through 11, and line 14.
62 FFA, 1985-1994, December 6, 2012

L.103 Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 301.1 336.3 330.9 381.8 389.8 391.5 399.5 426.2 453.8 516.2 1

 2 Checkable deposits and currency 71.8 74.4 75.2 79.8 81.0 83.2 85.3 90.7 93.9 106.3 2

 3 Time and savings deposits 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 3

 4 Money market fund shares 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 4

 5 Credit market instruments 49.7 55.4 47.7 58.2 47.1 43.6 38.3 38.1 36.9 43.7 5

 6 Treasury securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 7

 8 Mortgages 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 8

 9 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Trade receivables 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 10

11 Miscellaneous assets 75.2 86.1 88.2 103.3 112.6 109.2 118.6 123.6 139.7 158.9 11

12 Insurance receivables 56.3 62.9 57.8 58.2 63.8 60.0 65.0 64.1 66.7 68.8 12

13 Equity investment in GSEs (1) 4.5 3.9 3.5 3.5 2.8 2.4 2.6 2.5 2.8 3.0 13

14 Other 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 14

15 Total liabilities 1152.0 1214.3 1266.5 1381.4 1459.9 1452.6 1429.6 1424.4 1409.4 1448.3 15

16 Credit market instruments 933.0 1000.2 1058.2 1142.0 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 16

17 Depository institution loans n.e.c. 131.4 132.0 140.7 150.0 162.7 166.7 166.7 169.5 173.9 189.2 17

18 Other loans and advances 93.8 93.0 94.8 93.8 97.9 99.0 97.6 98.4 95.5 99.2 18

19 Mortgages 707.8 775.2 822.7 898.1 929.6 924.9 897.6 867.6 845.5 841.0 19

20 Trade payables 66.6 51.4 56.5 63.9 66.5 66.4 67.8 74.1 75.5 83.0 20

21 Taxes payable 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 21

22 Miscellaneous liabilities 130.8 139.4 127.9 148.7 171.8 163.7 167.4 181.7 187.6 203.3 22

(1) Equity in the Farm Credit System.
FFA, 1985-1994, December 6, 2012 63

L.104 State and Local Governments (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 686.2 771.7 856.4 900.3 970.9 1019.8 1082.9 1091.0 1111.6 1118.4 1

 2 Checkable deposits and currency 14.8 17.3 16.5 24.9 25.2 24.0 30.4 31.6 33.6 35.3 2

 3 Time and savings deposits 65.9 68.2 75.3 73.4 70.6 67.5 56.5 50.3 48.8 55.3 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 4

 5 Security RPs 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 5

 6 Credit market instruments 455.6 525.8 583.6 618.6 664.1 703.4 750.6 752.3 784.9 729.9 6

 7 Open market paper 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 7

 8 Treasury securities 258.7 315.7 357.6 364.3 369.1 410.6 435.5 418.2 447.8 370.0 8

 9 Agency- and GSE-backed securities 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 9

10 Municipal securities 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 10

11 Corporate and foreign bonds 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 11

12 Mortgages 74.2 86.0 94.7 98.6 105.0 110.2 113.7 113.7 108.3 110.5 12

13 Corporate equities 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 13

14 Mutual fund shares 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 14

15 Trade receivables 41.3 42.2 46.0 50.8 54.2 56.7 59.1 62.2 65.8 71.2 15

16 Taxes receivable 26.8 29.5 30.0 33.7 37.1 36.6 38.4 38.3 36.0 37.5 16

17 Miscellaneous assets 7.7 9.4 13.3 7.4 8.8 10.3 13.9 10.6 -23.6 24.9 17

18 Total liabilities 775.4 859.3 960.0 1021.3 1080.4 1140.4 1245.2 1276.1 1349.1 1319.5 18

19 Credit market instruments 677.9 752.1 842.6 893.0 940.4 987.4 1078.6 1095.1 1153.0 1107.5 19

20 Municipal securities 651.1 724.9 817.7 884.0 931.6 977.8 1068.6 1085.2 1143.9 1097.9 20

21 Short-term (2) 20.5 20.4 19.6 21.5 24.8 27.8 34.7 33.6 35.4 33.2 21

22 Long-term 630.6 704.5 798.1 862.5 906.8 950.0 1033.9 1051.6 1108.5 1064.7 22

23 U.S. government loans 26.8 27.3 24.9 9.0 8.8 9.6 10.0 9.9 9.2 9.6 23

24 Trade payables 97.4 107.2 117.4 128.3 140.1 153.0 166.6 181.0 196.0 212.0 24

(1) Data for employee retirement funds are shown in table L.117.

(2) Debt with original maturity of 13 months or less.
64 FFA, 1985-1994, December 6, 2012

L.105 Federal Government

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 373.7 387.6 372.2 362.4 370.2 442.4 500.7 476.4 483.8 454.1 1

 2 U.S. official reserve assets 25.1 28.0 29.1 27.7 32.3 39.7 39.1 38.8 40.2 41.4 2

 3 Checkable deposits and currency 34.0 32.8 21.4 32.1 25.6 25.4 50.9 31.7 52.2 27.8 3

 4 Time and savings deposits 1.2 1.4 1.7 1.4 1.3 1.4 1.6 0.9 0.8 0.7 4

 5 Credit market instruments 251.2 258.0 242.8 217.4 209.4 243.1 251.0 239.0 227.5 222.1 5

 6 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 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Other loans and advances 197.9 203.6 193.8 169.3 162.1 160.2 152.7 152.7 142.2 144.2 8

 9 Mortgages 53.3 54.4 49.1 48.0 47.3 82.9 98.3 86.4 85.0 71.0 9

10 Consumer credit (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.9 10

11 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Trade receivables 35.0 32.6 40.6 40.7 43.9 42.1 37.5 30.8 28.4 24.7 12

13 Taxes receivable 11.3 18.4 19.3 24.5 23.8 22.5 16.4 15.5 18.9 18.6 13

14 Miscellaneous assets 15.8 16.3 17.4 18.6 34.0 68.1 104.2 119.6 115.7 119.0 14

15 Total liabilities 1861.4 2124.0 2309.4 2511.3 2707.8 2986.4 3298.0 3638.2 3936.1 4131.8 15

16 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 16

17 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 17

18 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 18

19 Credit market instruments 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 19

20 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 20

21 Treasury bills 399.9 426.7 389.5 414.0 430.6 527.4 590.4 657.7 714.6 733.8 21

22 Other Treasury securities 1106.9 1282.2 1454.0 1558.8 1678.7 1812.1 2029.3 2246.6 2423.3 2551.9 22

23 Budget agency securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 23

24 Multifamily residential mortgages 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Trade payables 58.2 72.8 80.3 88.2 96.8 91.1 85.5 82.7 85.7 85.5 25

26 Insurance reserves 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 26

27 Miscellaneous liabilities (3) 172.1 201.7 233.1 270.6 307.1 340.3 378.0 417.7 454.7 492.3 27

28 Nonmarketable securities held by pension plans 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 28

29 Other 0.0 0.0 1.2 5.8 7.8 7.7 7.0 6.9 6.8 6.8 29

(1) Includes loans originated by the Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that

 the government purchased from depository institutions and finance companies.

(2) Corporate equities purchased from financial businesses under the Troubled Asset Relief Program (TARP) and from GSEs at market price.

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

 retirement fund, and foreign service retirement and disability fund.
FFA, 1985-1994, December 6, 2012 65

L.106 Rest of the World

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 973.5 1186.9 1361.5 1587.6 1874.3 1983.9 2138.5 2301.4 2624.9 2872.3 1

 2 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 2

 3 Net interbank assets -14.3 0.1 41.1 45.3 35.9 61.2 46.9 84.3 132.2 232.8 3

 4 U.S. checkable deposits and currency 54.4 59.6 62.0 65.6 69.5 85.8 97.2 109.8 126.2 148.6 4

 5 U.S. time deposits 33.7 31.3 32.1 35.5 40.2 39.5 39.3 38.2 45.1 46.6 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.4 1.2 2.0 2.7 3.5 4.3 6

 7 Security RPs (net) 7.5 10.9 13.1 13.0 23.1 19.7 20.9 41.7 58.6 46.6 7

 8 Credit market instruments 419.9 536.4 586.5 689.1 815.8 881.7 909.6 983.1 1095.0 1162.8 8

 9 Open market paper 8.2 8.0 9.0 11.8 12.7 10.7 11.3 12.9 18.8 24.9 9

10 Treasury securities 226.4 269.4 296.3 353.8 423.7 438.4 476.3 520.3 594.6 632.6 10

11 Official 138.4 173.3 213.7 253.0 257.2 285.9 306.0 322.6 373.1 396.9 11

12 Private 88.0 96.1 82.6 100.9 166.5 152.5 170.3 197.7 221.5 235.7 12

13 Agency- and GSE-backed securities 17.5 25.0 28.3 34.2 47.2 49.4 58.5 71.4 103.2 106.8 13

14 Official 6.6 5.6 6.8 8.0 6.4 5.3 5.2 6.7 8.6 10.3 14

15 Private 10.9 19.4 21.5 26.2 40.8 44.1 53.3 64.6 94.6 96.5 15

16 Municipal securities 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 2.8 3.0 16

17 U.S. corporate bonds (1) 110.7 154.9 173.2 187.4 207.8 208.7 236.0 246.0 261.4 273.5 17

18 Loans to U.S. corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 18

19 U.S. corporate equities 136.8 183.2 189.0 213.4 275.7 242.6 291.2 308.8 341.0 352.8 19

20 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 5.8 17.4 29.0 40.6 20

21 Trade receivables 33.6 35.0 35.1 37.2 39.8 46.1 44.4 46.0 47.0 48.6 21

22 Security credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Miscellaneous assets 296.4 324.6 395.5 481.9 567.3 599.1 674.3 662.6 740.6 781.5 23

24 Foreign direct investment in U.S. (2) 247.2 284.7 334.6 401.8 467.9 505.3 533.4 540.3 593.3 618.0 24

25 Other 49.2 39.9 61.0 80.2 99.4 93.8 140.9 122.3 147.3 163.6 25

26 Total liabilities 905.0 984.3 1068.2 1184.1 1325.5 1453.6 1475.2 1489.0 1694.0 1847.0 26

27 U.S. official reserve assets (3) 32.1 37.5 34.7 36.7 63.6 72.3 66.7 60.3 62.4 63.3 27

28 U.S. private deposits 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 28

29 Credit market instruments 242.5 251.9 259.0 269.8 287.9 318.2 350.4 372.4 468.2 443.1 29

30 Commercial paper 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 30

31 Bonds 75.0 85.7 93.9 104.2 116.9 144.7 176.8 200.8 309.7 310.4 31

32 Depository institution loans n.e.c. 27.9 26.9 23.3 21.5 21.4 18.5 21.6 23.9 24.6 26.1 32

33 Official 6.2 6.2 5.3 4.8 3.4 2.8 2.4 3.3 2.4 2.2 33

34 Banks 9.7 10.7 7.8 7.8 8.6 5.9 6.9 7.6 8.8 8.8 34

35 Other 12.1 10.0 10.2 8.9 9.4 9.8 12.3 13.0 13.5 15.2 35

36 Other loans and advances 105.6 101.8 100.6 94.1 86.5 79.7 69.9 69.3 65.2 63.9 36

37 Trade payables 17.5 16.8 19.3 27.0 29.8 28.6 31.6 33.0 37.1 40.8 37

38 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 Miscellaneous liabilities 464.4 498.3 541.9 621.8 677.5 736.5 753.0 755.6 854.5 925.9 39

40 U.S. equity in IBRD, etc. 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 40

41 Nonofficial foreign currencies 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 41

42 U.S. direct investment abroad (1,2) 407.8 437.5 506.6 535.9 570.7 629.8 657.7 674.4 723.5 786.6 42

43 Investment by holding companies 16.6 15.3 11.8 10.1 8.3 7.9 10.3 4.5 6.8 14.6 43

44 Other 24.2 29.2 6.1 57.2 78.9 77.9 61.5 51.7 97.8 96.8 44

 Memo:

45 Market value of foreign equities 44.4 72.4 94.7 128.7 197.3 197.6 279.0 314.3 543.9 626.8 45

 held by U.S. residents (4)

(1) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.

(2) Direct investment is valued on a current-cost basis.

(3) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).
66 FFA, 1985-1994, December 6, 2012

L.107 Financial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 8768.4 10056.9 11008.3 12005.0 13258.8 13804.4 14973.6 16098.5 17759.3 19025.1 1

 2 U.S. official reserve assets 18.1 20.5 16.7 20.1 42.3 43.6 38.6 32.5 33.3 33.0 2

 3 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 3

 4 Treasury currency 17.1 17.6 18.2 18.8 19.6 20.4 21.0 21.4 22.1 23.0 4

 5 Foreign deposits 18.9 22.0 21.4 29.3 26.1 26.7 21.4 20.3 10.0 15.7 5

 6 Net interbank assets 58.2 76.6 71.3 70.4 68.6 73.7 64.0 67.9 68.6 68.4 6

 7 Checkable deposits and currency 28.1 33.8 34.4 40.4 39.2 53.2 41.0 41.4 47.5 47.8 7

 8 Time and savings deposits 128.9 139.7 137.4 150.3 190.3 149.9 170.3 150.2 146.3 149.6 8

 9 Money market fund shares 31.6 37.3 38.9 46.4 57.1 76.4 93.8 123.8 146.1 164.6 9

10 Federal funds and security RPs 83.4 109.2 106.3 119.6 157.5 187.5 210.1 215.9 218.2 259.3 10

11 Credit market instruments 6287.5 7249.8 8003.4 8698.0 9388.6 9944.7 10408.0 11047.2 11868.8 12548.5 11

12 Open market paper 283.4 310.6 358.4 393.6 462.8 487.7 472.4 482.3 458.9 487.8 12

13 Treasury securities 772.4 895.1 940.9 932.4 975.9 1062.7 1254.8 1422.1 1531.9 1522.9 13

14 Agency- and GSE-backed securities 478.9 653.9 805.8 892.3 973.3 1124.9 1236.1 1365.2 1551.9 1699.3 14

15 Municipal securities 428.0 472.7 464.2 465.1 471.3 492.5 511.4 564.3 652.4 661.7 15

16 Corporate and foreign bonds 673.0 823.7 952.1 1112.0 1202.7 1270.5 1390.7 1546.5 1792.3 1875.6 16

17 Depository institution loans n.e.c. 678.0 756.2 758.7 808.3 864.7 856.2 811.0 793.0 786.5 849.1 17

18 Other loans and advances 381.8 410.6 475.5 520.9 539.1 529.6 486.4 493.4 508.5 567.6 18

19 Mortgages 2023.9 2307.8 2603.2 2888.9 3153.4 3363.3 3492.5 3621.2 3777.8 3956.8 19

20 Consumer credit 568.1 619.3 644.6 684.4 745.5 757.3 752.6 759.0 808.6 927.7 20

21 Corporate equities 904.1 1004.8 1058.0 1103.4 1386.5 1322.6 1791.1 2011.2 2509.6 2659.9 21

22 Mutual fund shares 21.3 32.1 42.8 50.7 63.3 82.3 94.4 139.7 197.2 280.0 22

23 Trade receivables 29.6 35.4 40.7 49.3 54.0 64.7 70.6 74.8 79.1 88.1 23

24 Security credit 96.1 97.1 76.2 77.4 80.7 75.0 101.9 141.5 176.8 170.0 24

25 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Miscellaneous assets 1040.7 1176.1 1337.7 1525.9 1676.5 1673.7 1837.3 2002.8 2227.8 2509.2 26

27 Total liabilities 8525.4 9787.5 10683.9 11631.4 12852.3 13430.0 14524.5 15584.7 17119.3 18420.0 27

28 Net interbank liabilities -0.9 21.6 52.2 56.3 46.0 74.6 72.4 107.8 162.3 268.3 28

29 Checkable deposits and currency 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 29

30 Time and savings deposits 2341.6 2471.0 2590.2 2782.5 2898.3 2896.1 2839.2 2708.8 2614.9 2597.1 30

31 Money market fund shares 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 31

32 Federal funds and security RPs 220.1 267.8 264.4 289.1 359.8 336.1 327.0 366.9 437.0 512.3 32

33 Credit market instruments 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 33

34 Open market paper 252.4 284.6 322.9 377.7 409.1 417.7 385.3 393.5 393.4 441.6 34

35 Agency- and GSE-backed securities 625.7 804.6 972.6 1093.4 1242.9 1413.6 1559.4 1715.7 1880.9 2173.4 35

36 Corporate and foreign bonds 233.1 325.4 404.0 456.1 525.5 580.0 651.9 741.2 861.4 976.9 36

37 Depository institution loans n.e.c. 46.2 59.9 52.8 55.1 68.4 69.0 73.4 71.8 58.8 47.5 37

38 Other loans and advances 99.0 119.3 144.3 163.7 153.3 129.2 91.9 91.3 113.7 131.6 38

39 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 39

40 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 40

41 Trade payables 8.0 7.6 6.8 8.5 8.0 6.1 6.8 7.4 10.1 9.1 41

42 Security credit 80.5 83.6 73.5 74.8 91.4 98.6 133.8 164.2 202.9 203.9 42

43 Life insurance reserves 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 43

44 Pension fund reserves 2088.6 2326.8 2504.8 2738.3 3169.0 3310.3 3830.6 4139.4 4617.5 4898.3 44

45 Taxes payable 8.8 10.3 8.3 9.7 9.0 10.6 11.6 11.8 13.9 13.1 45

46 Miscellaneous liabilities 1071.4 1182.5 1357.8 1487.7 1618.7 1679.2 1815.6 1971.2 2099.4 2319.0 46

 Memo:

47 Market value of corporate equities 309.1 369.0 328.9 388.9 477.0 377.9 570.3 746.5 910.7 893.9 47

48 Equity in noncorporate business 3.9 5.5 5.3 5.6 4.7 4.0 4.7 5.1 6.2 5.1 48

(1) Sum of financial sectors shown on tables L.108 through L.129.
FFA, 1985-1994, December 6, 2012 67

L.108 Monetary Authority (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 243.2 275.1 285.8 304.9 314.7 342.3 364.6 381.7 423.8 452.1 1

 2 U.S. official reserve assets 18.1 20.5 16.7 20.1 42.3 43.6 38.6 32.5 33.3 33.0 2

 3 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 3

 4 Treasury currency 17.1 17.6 18.2 18.8 19.6 20.4 21.0 21.4 22.1 23.0 4

 5 Federal Reserve float (2) 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 5

 6 Interbank loans (2) 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 6

 7 Discount window (3) 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 7

 8 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Security RPs 5.2 16.0 5.0 6.9 2.1 18.4 15.9 8.1 13.2 10.6 9

10 Credit market instruments 186.0 205.5 226.5 241.2 233.3 241.4 272.5 300.4 336.7 368.2 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 11

12 Treasury securities 177.8 197.6 218.9 233.7 226.8 235.1 266.5 295.0 332.0 364.5 12

13 Treasury bills 85.4 103.8 107.7 112.8 104.6 112.5 132.6 141.8 160.4 177.4 13

14 Other Treasury securities 92.4 93.9 111.2 120.9 122.2 122.6 133.9 153.2 171.6 187.1 14

15 Agency- and GSE-backed securities 8.2 7.8 7.6 7.6 6.5 6.3 6.0 5.4 4.6 3.6 15

16 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Other agency- and GSE-backed securities 8.2 7.8 7.6 7.6 6.5 6.3 6.0 5.4 4.6 3.6 17

18 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 20

21 Brokers and dealers (6) 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) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Funding corporations (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Funding corporations (Maiden Lane II) (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Funding corporations (Maiden Lane III)(9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Funding corporations (CPFF) (10) 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Miscellaneous assets 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 28

29 Nonofficial foreign currencies (12) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Other 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 30

31 Total liabilities 241.4 273.2 283.8 302.8 312.5 339.9 362.0 378.7 420.4 448.4 31

32 Depository institution reserves 28.6 48.1 41.8 39.3 38.3 38.7 29.4 32.1 35.0 30.8 32

33 Vault cash of depository institutions 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 33

34 Checkable deposits and currency 182.4 195.7 212.4 230.1 240.3 264.4 295.1 311.3 348.5 374.2 34

35 Due to federal government 9.9 8.0 5.8 9.1 6.7 9.5 18.3 8.0 15.2 7.5 35

36 Treasury cash holdings 0.6 0.4 0.4 0.4 0.5 0.6 0.6 0.5 0.4 0.3 36

37 Treasury general deposit account 9.4 7.6 5.3 8.7 6.2 9.0 17.7 7.5 14.8 7.2 37

38 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 Due to rest of the world 0.5 0.4 0.3 0.4 0.6 0.4 1.0 0.2 0.4 0.3 39

40 Due to government-sponsored enterprises 0.0 0.9 1.0 0.5 1.2 0.2 1.6 0.2 0.3 0.8 40

41 Currency outside banks 171.9 186.3 205.3 220.1 231.8 254.4 274.2 302.8 332.6 365.7 41

42 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

43 Miscellaneous liabilities 4.8 3.7 4.7 5.8 5.2 4.2 3.8 3.4 4.3 5.2 43

44 Federal Reserve Bank stock 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 44

45 Other 3.1 1.9 2.7 3.7 2.9 1.8 1.2 0.4 0.9 1.6 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.
68 FFA, 1985-1994, December 6, 2012

L.109 Private Depository Institutions (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 3491.8 3830.0 4115.0 4443.3 4567.9 4510.4 4460.4 4579.3 4770.8 5088.8 1

 2 Vault cash 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 2

 3 Reserves at Federal Reserve 28.6 48.1 41.8 39.3 38.3 38.7 29.4 32.1 35.0 30.8 3

 4 Credit market instruments 3162.9 3470.8 3741.4 4014.2 4094.0 4092.4 4025.0 4056.7 4197.6 4394.2 4

 5 Open market paper 13.4 14.6 15.9 16.0 15.7 15.7 14.5 12.7 9.8 8.0 5

 6 Treasury securities 229.3 243.0 252.4 233.8 203.3 205.8 270.5 342.1 367.7 335.0 6

 7 Agency- and GSE-backed securities 229.1 315.2 387.9 437.6 443.3 483.0 498.0 548.0 603.7 624.7 7

 8 Municipal securities 235.1 206.4 177.3 154.4 136.4 120.4 105.6 99.6 101.3 99.6 8

 9 Corporate and foreign bonds 81.1 111.9 159.8 187.7 167.6 158.7 163.9 169.3 180.2 182.1 9

10 Depository institution loans n.e.c. 678.0 756.2 758.7 808.3 864.7 856.2 811.0 793.0 786.5 849.1 10

11 Other loans and advances 60.0 54.4 59.8 57.5 55.4 45.5 35.3 31.7 25.3 22.9 11

12 Mortgages 1208.0 1308.8 1449.0 1603.0 1670.2 1683.7 1623.6 1568.3 1588.0 1655.9 12

13 Consumer credit 428.9 460.2 480.5 515.9 537.5 523.2 502.6 492.0 535.2 616.8 13

14 Corporate equities 5.3 7.1 7.0 8.5 15.7 10.9 14.1 14.7 16.8 13.3 14

15 Mutual fund shares 0.0 0.0 1.8 1.4 3.4 3.3 6.3 7.4 8.1 4.6 15

16 Security credit 45.4 39.6 34.4 33.9 38.2 36.2 46.8 88.0 100.7 94.9 16

17 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Miscellaneous assets 224.0 238.7 263.9 318.4 349.6 296.3 305.1 348.7 380.0 512.8 18

19 Total liabilities 3536.1 3870.1 4121.9 4469.9 4599.8 4587.9 4519.4 4604.5 4755.4 5114.0 19

20 Net interbank liabilities -55.0 -52.2 -14.5 -10.6 -21.0 3.3 9.4 43.9 94.7 199.4 20

21 Checkable deposits 531.1 643.2 630.4 655.1 651.9 670.3 727.4 823.4 903.5 866.0 21

22 Small time and savings deposits 1853.1 1978.9 2048.3 2187.4 2285.3 2349.2 2350.8 2293.6 2223.2 2185.8 22

23 Large time deposits 488.5 492.1 541.9 595.1 613.0 546.9 488.4 415.2 391.7 411.2 23

24 Federal funds and security RPs (net) 196.4 232.3 273.2 310.9 295.6 255.1 220.2 257.5 305.5 399.1 24

25 Credit market instruments 182.7 204.6 241.0 259.3 244.0 213.4 158.7 159.5 176.0 198.0 25

26 Open market paper 64.6 58.8 64.3 61.6 57.4 52.1 37.8 33.9 26.3 23.4 26

27 Corporate bonds 25.1 32.3 37.3 38.9 38.3 36.9 33.8 39.0 41.1 43.7 27

28 Other loans and advances 92.9 113.5 139.3 158.8 148.3 124.4 87.1 86.5 108.7 131.0 28

29 Taxes payable (net) 4.6 4.9 2.5 2.7 1.4 1.3 -0.1 -0.3 -3.2 -5.2 29

30 Miscellaneous liabilities 334.8 366.3 399.1 470.0 529.6 548.5 564.5 611.9 664.0 859.6 30

31 Foreign direct investment in U.S. 11.4 12.4 14.4 16.9 18.6 18.4 24.9 21.2 24.0 26.3 31

32 Investment by holding companies 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 32

33 Investment by funding corporations 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 33

34 Other 165.2 173.6 189.9 222.5 267.3 270.6 263.1 273.4 299.3 477.6 34

 Memo:

35 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

(1) U.S.-chartered depository institutions (L.110), foreign banking offices (L.111), banks in U.S.-affiliated areas (L.112), and credit unions (L.113).

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
FFA, 1985-1994, December 6, 2012 69

L.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 3226.2 3505.0 3724.8 4003.5 4024.3 3941.4 3803.8 3824.4 3956.8 4199.9 1

 2 Vault cash 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 2

 3 Reserves at Federal Reserve 26.6 45.5 39.6 38.3 37.3 37.4 28.5 31.4 34.0 29.8 3

 4 Credit market instruments 2933.7 3190.3 3409.2 3634.5 3678.8 3633.6 3506.8 3500.4 3627.4 3781.1 4

 5 Open market paper 12.0 12.8 13.3 13.4 12.5 9.3 8.8 6.5 5.2 3.7 5

 6 Treasury securities 217.1 226.5 233.0 210.9 182.5 183.3 232.7 288.3 303.2 275.1 6

 7 Agency- and GSE-backed securities 221.0 303.8 375.3 425.1 431.0 460.6 466.2 503.2 543.6 558.0 7

 8 Residential mortgage pass-through securities 151.6 220.3 287.1 308.2 298.6 299.5 277.3 276.2 296.7 316.0 8

 9 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 54.8 89.4 122.7 133.8 119.4 10

11 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 Other 69.5 83.5 88.3 116.9 132.4 106.3 99.5 104.3 113.1 122.6 12

13 Municipal securities 234.5 205.8 176.7 153.8 135.8 119.8 105.1 99.1 101.0 99.0 13

14 Corporate and foreign bonds 74.1 99.7 144.5 174.0 152.8 141.0 142.4 146.6 155.7 152.7 14

15 Priv. residential mortgage pass-through securities 0.4 3.7 19.4 24.4 28.9 30.3 30.6 30.2 35.0 32.8 15

16 Priv. commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Priv. residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 28.2 21.6 19.8 21.5 17

18 Priv. commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Other 73.7 96.0 125.1 149.6 123.9 110.7 83.5 94.7 101.0 98.5 19

20 Depository institution loans n.e.c. 593.1 649.2 634.6 663.3 687.6 669.9 599.3 573.1 580.9 625.5 20

21 Other loans and advances 37.9 30.6 29.6 26.5 21.3 17.2 12.6 12.6 10.1 9.9 21

22 Mortgages 1189.1 1278.7 1402.9 1540.0 1609.4 1600.9 1527.2 1470.9 1494.0 1559.9 22

23 Consumer credit 354.8 383.1 399.4 427.6 445.8 431.6 412.3 400.3 433.6 497.2 23

24 Corporate equities 5.2 7.0 7.0 8.5 15.7 10.9 14.1 14.7 16.8 13.3 24

25 Mutual fund shares 0.0 0.0 0.0 0.0 2.2 1.9 3.7 3.4 3.9 2.0 25

26 Security credit 38.5 32.5 29.4 29.0 33.2 27.8 30.0 57.3 61.4 56.8 26

27 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Miscellaneous assets 196.6 204.0 214.7 265.8 228.5 197.1 187.2 185.4 180.8 278.7 28

29 Total liabilities 3268.6 3544.2 3732.3 4032.0 4058.8 4022.6 3868.1 3857.9 3953.5 4238.7 29

30 Net interbank liabilities -66.6 -71.8 -49.5 -53.5 -71.0 -54.7 -45.6 -55.6 -23.2 61.8 30

31 Federal Reserve float 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 31

32 Borrowing from Federal Reserve banks 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 32

33 To domestic banks -55.4 -56.8 -54.4 -59.6 -69.7 -71.6 -52.4 -40.3 -23.7 -12.0 33

34 To foreign banks -15.2 -17.8 0.3 2.7 -3.0 14.5 5.9 -19.2 -0.5 74.3 34

35 Checkable deposits 506.2 616.5 602.7 625.3 620.6 637.8 692.7 784.2 862.3 822.2 35

36 Federal government 25.8 27.5 21.6 29.0 25.6 30.9 36.4 30.6 42.6 23.8 36

37 Rest of the world 16.0 18.7 17.2 16.6 16.7 16.3 14.1 15.8 15.6 17.1 37

38 Private domestic 464.4 570.4 563.8 579.7 578.3 590.6 642.2 737.8 804.1 781.3 38

39 Small time and savings deposits 1730.7 1827.6 1885.1 2012.2 2101.7 2150.0 2135.3 2061.9 1982.8 1940.3 39

40 Large time deposits 450.9 445.8 491.5 537.8 547.6 485.2 376.9 292.8 269.1 284.9 40

41 Federal funds and security RPs (net) 197.1 227.0 268.1 301.4 286.9 240.1 195.1 232.1 279.2 364.0 41

42 Credit market instruments 158.3 177.3 207.1 224.9 208.6 178.9 133.8 138.3 159.7 184.1 42

43 Open market paper 40.2 31.5 30.5 27.2 22.0 17.6 12.9 12.8 10.2 10.0 43

44 Corporate bonds 25.1 32.3 37.3 38.9 38.3 36.9 33.8 39.0 41.1 43.7 44

45 Other loans and advances 92.9 113.5 139.3 158.8 148.3 124.4 87.1 86.5 108.4 130.5 45

46 Taxes payable (net) 4.6 4.9 2.5 2.7 1.4 1.3 -0.1 -0.3 -3.2 -5.2 46

47 Miscellaneous liabilities 287.4 316.8 324.7 381.2 363.1 383.9 380.1 404.7 426.7 586.7 47

48 Investment by holding companies 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 48

49 Other 151.9 163.3 164.0 197.4 168.9 172.2 150.8 138.6 130.6 275.0 49

 Memo:

50 Consumer leases not included above (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

(1) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
70 FFA, 1985-1994, December 6, 2012

L.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 144.3 186.4 235.6 265.8 359.1 367.1 438.5 510.9 544.5 593.1 1

 2 Reserves at Federal Reserve 2.0 2.6 2.2 1.1 1.0 1.2 0.9 0.7 1.0 1.0 2

 3 Credit market instruments 117.1 152.0 186.1 215.4 242.2 270.6 319.2 335.8 325.7 337.1 3

 4 Open market paper 1.2 1.0 2.2 1.7 2.1 4.1 3.1 3.3 2.4 2.2 4

 5 Treasury securities 4.8 6.9 6.5 6.6 6.4 11.4 20.8 29.6 36.1 32.7 5

 6 Agency- and GSE-backed securities 1.1 2.6 3.8 4.9 5.2 7.2 11.2 14.1 21.5 23.0 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 6.3 11.3 14.4 13.7 14.7 17.7 21.4 22.4 23.8 28.9 8

 9 Depository institution loans n.e.c. 75.8 97.7 115.0 135.4 149.5 156.4 185.7 195.7 181.7 197.1 9

10 Other loans and advances 22.1 23.8 30.2 31.0 34.0 28.3 22.7 19.1 15.1 13.0 10

11 Mortgages 5.7 8.7 13.9 22.1 30.2 45.5 54.3 51.6 45.1 40.3 11

12 Corporate equities 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Security credit 7.0 7.1 5.0 4.9 5.0 8.4 16.8 30.7 39.3 38.1 13

14 Miscellaneous assets 18.1 24.6 42.3 44.4 110.9 86.8 101.6 143.8 178.5 216.9 14

15 Total liabilities 148.8 191.3 240.8 271.7 365.7 374.2 446.3 519.3 553.5 602.8 15

16 Net interbank liabilities 39.3 55.1 70.0 74.0 78.7 87.0 88.8 134.3 151.0 162.3 16

17 To foreign banks 0.9 17.9 40.8 42.6 38.9 46.7 41.1 103.5 132.7 158.5 17

18 To domestic banks 38.4 37.2 29.2 31.4 39.8 40.3 47.8 30.8 18.3 3.9 18

19 Checkable deposits 7.3 8.3 7.6 8.7 8.4 8.7 8.9 8.3 8.3 8.8 19

20 Small time and savings deposits 4.9 7.1 7.8 8.3 12.0 11.0 11.0 11.2 10.4 9.3 20

21 Large time deposits 30.7 38.3 42.1 48.4 52.9 49.2 99.3 108.2 107.4 110.0 21

22 Federal funds and security RPs (net) 7.6 16.1 14.4 18.9 21.2 29.6 38.4 39.0 34.7 41.4 22

23 Open market paper (2) 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 23

24 Miscellaneous liabilities 34.5 39.3 65.1 79.1 157.1 154.2 175.0 197.1 225.7 257.6 24

25 Foreign direct investment in U.S. 11.4 12.4 14.4 16.9 18.6 18.4 24.9 21.2 24.0 26.3 25

26 Investment by funding corporations 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 26

27 Other 0.4 0.0 16.7 15.3 89.0 88.1 102.9 124.8 157.1 187.3 27

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.
FFA, 1985-1994, December 6, 2012 71

L.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 18.1 17.0 16.5 18.7 21.1 25.8 23.3 26.4 28.4 31.6 1

 2 Credit market instruments 13.7 14.6 14.7 15.5 17.1 21.6 19.7 23.4 25.8 29.2 2

 3 Treasury securities 1.2 1.7 1.7 1.9 2.2 2.5 2.8 4.3 5.8 5.1 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.4 0.8 0.9 1.0 2.1 2.3 2.8 4

 5 Municipal securities 0.6 0.6 0.6 0.7 0.6 0.6 0.5 0.5 0.2 0.6 5

 6 Corporate and foreign bonds 0.7 0.9 0.9 0.0 0.1 0.0 0.1 0.4 0.6 0.5 6

 7 Depository institution loans n.e.c. 9.1 9.3 9.1 9.6 9.7 13.0 10.0 10.2 9.7 11.3 7

 8 Home mortgages 1.3 1.3 1.5 1.7 1.9 2.0 2.0 3.0 4.1 4.8 8

 9 Commercial mortgages 0.8 0.8 0.9 1.2 1.8 2.5 3.2 3.0 3.1 4.0 9

10 Miscellaneous assets 4.4 2.4 1.8 3.2 4.1 4.2 3.7 3.0 2.6 2.4 10

11 Total liabilities 22.1 20.7 19.5 21.0 23.1 27.5 24.4 26.9 28.2 31.7 11

12 Net interbank liabilities -4.5 -4.4 -3.6 -3.0 -2.6 -2.5 -1.8 -1.3 -1.0 -1.4 12

13 Checkable deposits 4.9 5.4 5.4 5.6 6.1 5.4 5.2 5.8 6.1 6.2 13

14 Small time and savings deposits 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 14

15 Large time deposits 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 15

16 Miscellaneous liabilities 10.1 7.3 5.4 5.4 5.7 6.5 4.9 5.5 6.6 8.9 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

 1 Total financial assets 103.2 121.6 138.1 155.3 163.4 176.2 194.7 217.6 241.1 264.2 1

 2 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 98.4 113.9 131.3 148.8 156.0 166.6 179.4 197.1 218.7 246.8 3

 4 Open market paper 0.2 0.7 0.5 0.9 1.1 2.3 2.6 3.0 2.2 2.1 4

 5 Treasury securities 6.2 8.0 11.2 14.4 12.1 8.5 14.1 19.9 22.6 22.1 5

 6 Agency- and GSE-backed securities 7.0 8.8 8.8 7.1 6.3 14.4 19.6 28.7 36.3 40.9 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 17.9 17.0 15.9 14.0 14.2 15.1 8

 9 Home mortgages 11.1 19.3 29.9 38.1 27.0 32.7 36.9 39.8 41.8 47.0 9

10 Consumer credit 74.0 77.1 81.0 88.3 91.7 91.6 90.3 91.7 101.6 119.6 10

11 Mutual fund shares 0.0 0.0 1.8 1.4 1.2 1.4 2.6 4.1 4.2 2.6 11

12 Miscellaneous assets 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.2 14.8 12

13 Total liabilities 96.7 113.8 129.3 145.2 152.2 163.6 180.5 200.4 220.2 240.9 13

14 Net interbank liabilities -23.3 -31.0 -31.4 -28.2 -26.0 -26.5 -32.1 -33.6 -32.1 -23.2 14

15 Shares/deposits 125.5 152.7 166.0 178.4 187.0 200.8 221.3 242.9 255.5 263.4 15

16 Checkable 12.6 13.0 14.7 15.5 16.8 18.3 20.5 25.1 26.8 28.8 16

17 Small time and savings 111.7 137.8 149.2 160.5 164.7 179.1 196.5 212.0 221.8 227.3 17

18 Large time 1.2 1.8 2.1 2.5 5.5 3.4 4.2 5.8 6.9 7.3 18

19 Federal funds and security RPs (net) -8.4 -10.9 -9.2 -9.4 -12.5 -14.6 -13.2 -13.5 -8.5 -6.2 19

20 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 20

21 Miscellaneous liabilities 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 21
72 FFA, 1985-1994, December 6, 2012

L.114 Property-Casualty Insurance Companies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 298.6 353.6 405.0 453.9 503.0 533.5 575.8 597.9 642.5 678.1 1

 2 Checkable deposits and currency 4.3 5.6 5.5 5.4 6.0 6.5 5.3 5.6 5.2 5.0 2

 3 Money market fund shares 8.3 8.3 8.6 9.8 9.7 10.8 9.4 11.4 11.1 10.3 3

 4 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 191.8 234.6 274.6 306.0 335.6 364.2 394.1 410.6 443.3 465.6 5

 6 Open market paper 11.8 11.9 12.3 14.0 13.9 15.5 13.5 16.3 15.9 14.7 6

 7 Treasury securities 32.3 46.1 54.7 64.2 75.2 83.6 108.1 113.6 129.3 137.4 7

 8 Agency- and GSE-backed securities 22.2 22.3 22.3 22.6 26.0 32.0 42.1 42.6 44.5 45.8 8

 9 Municipal securities 88.2 101.9 124.8 134.1 134.8 136.9 126.8 134.3 146.1 153.8 9

10 Corporate and foreign bonds 33.9 48.0 55.5 65.7 79.3 89.2 97.2 97.8 103.1 110.1 10

11 Commercial mortgages 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 11

12 Corporate equities 57.0 61.2 65.1 71.4 84.0 79.9 94.1 97.3 103.4 111.7 12

13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 13

14 Trade receivables 27.2 32.1 35.7 42.5 45.3 47.2 49.1 49.0 50.7 52.9 14

15 Miscellaneous assets 10.0 11.8 15.5 18.9 22.4 24.8 23.7 24.0 28.8 32.2 15

16 Total liabilities 215.6 259.5 305.9 337.6 371.1 398.8 419.0 440.8 459.1 474.4 16

17 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Taxes payable (net) 0.9 1.1 1.6 1.9 1.2 1.9 2.6 0.9 3.0 2.6 18

19 Miscellaneous liabilities 214.7 258.4 304.3 335.6 369.9 396.9 416.4 439.9 456.1 471.9 19

L.115 Life Insurance Companies

Billions of dollars

 1 Total financial assets 796.1 905.9 1005.3 1125.0 1245.5 1351.4 1479.5 1587.0 1754.9 1862.9 1

 2 Checkable deposits and currency 5.1 5.8 4.9 4.6 5.0 4.9 5.5 4.8 5.2 5.6 2

 3 Money market fund shares 9.1 10.0 6.9 7.0 6.2 8.4 8.5 8.7 8.8 8.9 3

 4 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 646.6 734.5 823.1 927.2 1028.3 1134.5 1218.9 1304.4 1415.5 1487.5 5

 6 Open market paper 29.1 34.5 34.0 39.2 42.8 45.7 45.8 43.2 46.9 52.8 6

 7 Treasury securities 51.7 59.0 57.1 58.6 52.9 59.2 77.8 88.8 110.0 107.1 7

 8 Agency- and GSE-backed securities 49.4 60.0 67.0 75.7 100.8 121.0 164.2 193.0 222.8 234.1 8

 9 Municipal securities 9.7 11.7 10.7 9.1 9.0 12.3 10.2 11.4 14.7 12.8 9

10 Corporate and foreign bonds 280.6 321.4 388.3 457.5 511.0 566.9 595.1 653.9 719.5 779.4 10

11 Other loans and advances 54.4 54.1 53.6 54.2 57.4 61.6 66.4 72.1 77.7 85.5 11

12 Mortgages 171.8 193.8 212.4 232.9 254.2 267.9 259.5 242.0 223.9 215.8 12

13 Corporate equities 74.0 76.4 80.5 81.4 91.8 81.9 135.8 151.6 205.8 231.4 13

14 Mutual fund shares 3.5 14.5 12.1 18.5 19.1 30.7 8.6 18.2 21.3 24.4 14

15 Miscellaneous assets 57.8 64.8 77.8 86.4 95.1 91.0 102.2 99.4 98.3 105.1 15

16 Total liabilities 750.8 855.9 947.3 1068.7 1185.9 1291.3 1409.6 1525.1 1677.8 1773.5 16

17 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 18

19 Life insurance reserves 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 19

20 Pension fund reserves (1) 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 20

21 Taxes payable (net) 2.5 3.1 3.4 3.8 4.8 5.3 6.4 7.8 9.4 10.4 21

22 Miscellaneous liabilities 241.4 261.2 305.8 314.9 342.8 348.1 388.3 402.5 435.9 474.5 22

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 22).
FFA, 1985-1994, December 6, 2012 73

L.116 Private Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 1226.8 1285.7 1354.0 1407.2 1631.8 1629.1 1931.0 2038.4 2285.4 2436.2 1

 2 Checkable deposits and currency 3.3 1.9 1.7 4.5 4.1 3.3 3.0 3.0 3.2 4.0 2

 3 Time and savings deposits 76.6 87.0 76.2 87.1 114.6 110.4 115.9 98.8 95.4 102.1 3

 4 Money market fund shares 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 4

 5 Security RPs 19.2 20.9 20.4 22.7 24.8 23.5 27.2 27.4 28.3 22.2 5

 6 Credit market instruments 329.0 333.6 347.2 369.2 420.8 464.3 489.7 515.7 551.9 591.5 6

 7 Open market paper 22.1 26.4 33.6 27.5 26.9 26.4 29.7 29.5 30.2 24.0 7

 8 Treasury securities 128.6 112.8 113.0 112.7 122.4 122.4 117.1 108.7 104.3 121.1 8

 9 Agency- and GSE-backed securities 67.1 59.2 72.3 86.7 110.5 133.1 146.0 156.5 170.6 211.5 9

10 Corporate and foreign bonds 97.2 124.0 120.1 125.6 137.8 157.5 178.7 206.5 233.7 227.1 10

11 Mortgages 14.0 11.3 8.2 16.7 23.3 24.9 18.2 14.5 13.0 7.8 11

12 Corporate equities 515.8 523.5 532.6 515.2 635.5 605.9 806.2 873.7 1014.3 1013.7 12

13 Mutual fund shares 11.1 12.1 19.9 23.4 33.0 40.5 66.4 96.2 142.2 205.9 13

14 Miscellaneous assets 262.8 295.7 343.0 370.1 381.1 363.4 403.7 403.8 423.8 465.2 14

15 Unallocated insurance contracts (2) 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 15

16 Contributions receivable 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 16

17 Other 112.3 130.1 136.5 164.2 150.1 116.3 114.8 101.9 89.3 89.0 17

18 Pension fund reserves (liabilities) (3) 1250.9 1316.6 1386.0 1432.2 1663.3 1658.5 1959.7 2062.8 2308.3 2473.3 18

 Memo:

 Total financial assets (4)

19 Defined benefit plans 795.1 816.0 803.3 812.8 921.5 899.9 1051.7 1079.9 1195.1 1276.0 19

20 Defined contibution plans 431.7 469.7 550.7 594.4 710.3 729.3 879.4 958.5 1090.3 1160.2 20

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

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

(3) Equal to the value of nonfinancial and financial assets. These liabilities are assets of the household sector.

(4) Additional detail on defined benefit plans and defined contribution plans is available on L.116.b and L.116.c.
74 FFA, 1985-1994, December 6, 2012

L.117 State and Local Government Employee Retirement Funds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 401.8 476.5 531.9 596.8 698.1 729.9 851.8 937.1 1042.0 1091.8 1

 2 Checkable deposits and currency 2.4 3.1 4.8 4.4 3.2 5.0 3.8 6.5 6.6 6.7 2

 3 Time and savings deposits 13.3 9.9 5.2 7.1 9.1 7.7 8.8 6.9 6.2 2.5 3

 4 Money market fund shares 1.4 1.7 2.0 2.3 2.8 2.8 3.0 3.1 4.1 5.0 4

 5 Security RPs 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 5

 6 Credit market instruments 252.4 297.1 328.8 350.5 381.5 402.0 404.6 441.8 468.6 478.7 6

 7 Open market paper 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 7

 8 Treasury securities 85.4 115.3 138.9 150.7 152.4 168.2 165.5 203.5 217.5 215.6 8

 9 Agency- and GSE-backed securities 38.1 38.1 43.0 35.3 51.2 62.9 58.0 39.8 35.8 39.9 9

10 Municipal securities 1.1 0.7 0.8 0.5 0.3 0.5 0.6 0.4 1.4 1.1 10

11 Corporate and foreign bonds 107.4 119.1 119.5 138.2 152.6 142.1 144.7 156.9 179.0 179.1 11

12 Mortgages 15.3 15.6 15.3 15.6 15.3 16.1 16.9 16.5 14.5 15.2 12

13 Corporate equities 120.1 150.2 170.1 212.6 277.8 284.6 395.0 431.7 506.2 521.7 13

14 Mutual fund shares 6.8 5.5 9.1 7.4 7.8 7.8 13.1 17.9 25.6 44.8 14

15 Miscellaneous assets 0.5 0.7 0.6 2.1 6.3 7.8 4.6 4.5 4.1 4.6 15

16 Pension fund reserves (liabilities) (1) 405.1 480.7 537.2 603.2 706.0 741.7 867.7 957.0 1065.6 1116.8 16

(1) Equal to the value of nonfinancial and financial assets. These liabilities are assets of the household sector.

L.118 Federal Government Retirement Funds (1)

Billions of dollars

 1 Total financial assets 172.1 201.7 233.0 267.5 304.2 340.4 382.1 426.3 468.4 511.5 1

 2 Credit market instruments 0.0 0.0 1.1 2.7 4.9 7.4 10.0 13.1 16.2 19.9 2

 3 Treasury securities 0.0 0.0 1.1 2.7 4.9 7.3 9.8 12.7 15.4 19.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.5 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.4 0.4 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 6

 7 Miscellaneous assets (2) 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 7

 8 Pension fund reserves (liabilities) (3) 172.1 201.7 233.0 267.5 304.2 340.4 382.1 426.3 468.4 511.5 8

(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

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

 retirement fund, and foreign service retirement and disability fund.

(3) Liabilities of the sector are assets of the household sector.
FFA, 1985-1994, December 6, 2012 75

L.119 Money Market Mutual Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 1

 2 Foreign deposits 18.9 22.0 21.4 29.3 26.1 26.7 21.4 20.3 10.0 15.7 2

 3 Checkable deposits and currency 0.2 -0.0 -0.3 0.7 0.1 11.2 -0.2 -2.7 -1.2 -2.5 3

 4 Time and savings deposits 17.3 20.1 34.5 33.8 43.0 21.9 35.1 34.6 31.9 31.4 4

 5 Security RPs 25.9 31.9 38.9 41.2 54.3 58.2 67.0 65.9 66.4 68.8 5

 6 Credit market instruments 178.2 213.1 215.0 225.5 293.7 371.3 403.9 408.6 429.0 459.0 6

 7 Open market paper 98.4 104.4 110.1 127.5 184.5 204.0 190.6 173.6 164.4 187.2 7

 8 Treasury securities 24.4 27.8 14.1 11.4 14.6 44.9 78.3 78.4 79.4 66.1 8

 9 Agency- and GSE-backed securities 18.0 15.0 26.7 18.2 20.8 36.4 40.6 54.3 67.8 77.2 9

10 Municipal securities 36.4 64.1 61.8 66.1 70.1 84.0 90.6 96.0 105.6 113.4 10

11 Corporate and foreign bonds 1.0 1.8 2.2 2.3 3.7 2.0 3.8 6.3 11.7 15.2 11

12 Miscellaneous assets 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 12

13 Total shares outstanding (liabilities) 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.120 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 1

 2 Security RPs 1.3 2.8 3.6 4.9 4.8 6.1 12.2 21.9 38.7 43.1 2

 3 Credit market instruments 129.9 259.9 291.1 304.5 327.2 360.1 440.2 566.4 725.9 718.8 3

 4 Open market paper 7.9 15.8 19.5 28.6 28.0 28.5 12.2 21.9 38.7 43.1 4

 5 Treasury securities 38.8 71.2 84.1 80.3 81.4 87.1 103.9 110.4 134.0 130.5 5

 6 Agency- and GSE-backed securities 26.1 63.4 66.2 62.8 64.5 72.6 96.7 147.0 172.6 165.8 6

 7 Municipal securities 34.9 67.0 74.8 82.9 98.6 112.6 139.7 168.4 211.3 207.0 7

 8 Corporate and foreign bonds 22.2 42.4 46.6 49.8 54.6 59.3 87.7 118.7 169.3 172.4 8

 9 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Corporate equities 113.7 161.2 181.7 187.6 250.5 233.2 308.9 401.3 607.4 709.6 10

11 Miscellaneous assets 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 11

12 Total shares outstanding (liabilities) 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.121 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Total financial assets 8.3 14.5 21.3 43.2 52.5 52.9 71.2 93.5 116.1 117.8 1

 2 Credit market instruments 4.1 7.0 11.0 28.8 35.4 36.7 49.5 69.7 89.7 86.0 2

 3 Treasury securities 0.6 1.0 1.6 4.8 6.6 6.8 10.0 11.6 13.7 12.8 3

 4 Municipal securities 1.0 2.0 3.3 7.5 12.1 14.1 25.4 39.7 51.8 53.4 4

 5 Corporate and foreign bonds 2.5 3.9 6.1 16.5 16.7 15.7 14.1 18.3 24.2 19.8 5

 6 Corporate equities 4.2 7.5 10.4 14.3 17.1 16.2 21.8 23.8 26.5 31.9 6

 7 Total shares outstanding (liabilities) 8.3 14.5 21.3 43.2 52.5 52.9 71.2 93.5 116.1 117.8 7

 Exchange-traded funds

 8 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Municipal securities 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 13

14 Total shares outstanding (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 14
76 FFA, 1985-1994, December 6, 2012

L.122 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 324.0 346.4 374.4 421.7 454.2 477.6 496.9 552.8 631.7 782.3 1

 2 Checkable deposits and currency 2.1 3.7 3.6 3.6 2.3 2.1 1.2 1.2 2.1 1.3 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Federal funds and security RPs (net) 26.9 29.4 27.2 33.8 61.8 68.7 67.6 66.6 50.3 85.8 4

 5 Credit market instruments 291.0 307.6 330.9 364.2 359.9 373.9 388.9 458.1 546.7 667.9 5

 6 Open market paper 0.1 0.1 0.0 0.4 3.3 3.8 10.9 13.5 11.9 26.3 6

 7 Treasury securities 6.8 16.3 21.0 26.3 13.0 34.3 40.8 58.7 51.6 51.9 7

 8 Agency- and GSE-backed securities 0.8 0.2 0.1 0.3 6.3 11.9 34.8 47.5 66.0 130.8 8

 9 Municipal securities 1.6 2.3 2.4 2.9 2.9 3.7 3.0 3.2 3.1 5.2 9

10 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 20.0 10

11 Other loans and advances 115.2 132.8 157.8 176.6 168.0 144.8 110.7 111.3 135.2 158.8 11

12 Sallie Mae 4.3 5.2 6.6 6.3 6.8 7.8 9.0 7.4 6.6 6.6 12

13 Farm Credit System 22.0 19.0 18.2 17.5 19.4 19.9 22.7 24.0 25.4 26.3 13

14 FHLB 88.8 108.6 133.1 152.8 141.8 117.1 79.1 79.9 103.1 125.9 14

15 Mortgages 159.7 147.8 139.5 144.5 150.5 156.1 167.7 199.7 241.0 244.6 15

16 Home 111.6 105.9 102.8 109.0 114.1 119.5 130.7 161.0 201.1 204.1 16

17 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Other 111.6 105.9 102.8 109.0 114.1 119.5 130.7 161.0 201.1 204.1 18

19 Multifamily residential 8.5 8.7 8.4 9.5 12.0 13.2 14.2 15.8 17.5 18.4 19

20 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Other 8.5 8.7 8.4 9.5 12.0 13.2 14.2 15.8 17.5 18.4 21

22 Farm 39.6 33.1 28.2 25.9 24.3 23.5 22.8 22.9 22.4 22.1 22

23 Consumer credit (3) 6.8 8.2 10.0 13.2 16.0 19.2 21.1 24.2 26.8 30.4 23

24 Miscellaneous assets 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 24

25 Total liabilities 318.8 341.8 368.8 414.8 446.3 467.8 484.2 537.4 613.0 760.2 25

26 Credit market instruments 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 26

27 GSE issues (4) 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 27

28 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Other 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 29

30 U.S. government loans 6.1 5.7 5.0 5.0 5.0 4.9 4.8 4.8 4.8 0.0 30

31 Miscellaneous liabilities 54.9 63.1 60.7 61.8 68.0 69.2 76.5 89.0 84.0 59.1 31

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.123) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

L.123 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Total financial assets 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 1

 2 Home mortgages 360.5 519.5 652.9 723.6 843.8 991.1 1130.4 1248.2 1334.3 1449.6 2

 3 Multifamily residential mortgages 7.0 11.9 16.4 21.6 25.7 28.7 26.1 23.8 22.5 22.4 3

 4 Commercial mortgages 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.4 5

 6 Total pool securities (liabilities)(2) 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (table L.122). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
FFA, 1985-1994, December 6, 2012 77

L.124 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 37.2 74.7 118.3 154.4 209.8 267.7 321.0 383.7 466.2 536.1 1

 2 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Agency- and GSE-backed securities (1) 10.2 53.5 81.8 107.1 99.1 103.3 76.6 60.0 83.6 106.5 3

 4 Other loans and advances 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 4

 5 Mortgages (2) 24.6 17.9 31.5 40.5 52.6 66.0 113.1 167.9 204.3 224.7 5

 6 Home 24.0 16.6 27.8 34.9 43.3 55.0 96.7 142.3 167.9 183.0 6

 7 Multifamily residential 0.0 0.2 0.5 1.0 1.0 0.9 3.8 6.6 8.4 9.8 7

 8 Commercial 0.6 1.1 3.1 4.6 8.4 10.1 12.6 19.1 28.1 31.8 8

 9 Consumer credit 0.0 0.0 0.0 0.0 47.3 76.7 103.0 120.3 130.5 146.1 9

10 Trade credit 2.4 3.3 5.1 6.8 8.7 17.4 21.5 25.8 28.4 35.2 10

11 Total liabilities 37.2 74.7 118.3 154.4 209.8 269.2 323.0 385.5 468.0 538.3 11

12 Commercial paper 2.4 3.3 5.1 6.8 15.7 31.4 38.7 46.9 51.6 63.9 12

13 Corporate bonds (net) (3) 34.8 71.4 113.2 147.6 194.1 237.8 284.2 338.7 416.5 474.3 13

 Memo:

 Securitized assets not included above

14 Consumer leases (4) 0.0 0.0 0.0 0.0 0.0 1.5 2.0 1.9 1.9 2.2 14

15 REIT assets (5) 2.2 6.7 13.0 14.6 15.3 15.3 15.0 14.3 12.5 9.0 15

 Securitized liabilities not included above

16 Commercial paper (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Liabilities net of assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(5) Included in table L.126.

(6) Included in table L.110 line 43.

L.125 Finance Companies (1)

Billions of dollars

 1 Total financial assets 363.1 423.8 470.3 519.7 568.6 596.1 620.0 616.1 617.8 636.1 1

 2 Checkable deposits and currency 4.4 5.4 6.7 7.9 8.7 9.9 12.2 12.6 14.1 15.5 2

 3 Time and savings deposits 1.5 2.3 2.9 3.4 4.7 5.3 8.1 8.4 11.5 12.7 3

 4 Credit market instruments 353.2 409.9 448.3 493.3 537.3 564.8 572.5 575.0 563.1 595.1 4

 5 Corporate and foreign bonds 17.3 22.4 28.1 32.9 39.0 44.4 59.3 61.2 74.8 82.4 5

 6 Other loans and advances 150.2 165.8 200.1 228.7 250.8 268.1 263.8 264.9 249.0 274.9 6

 7 Mortgages 53.3 70.8 66.1 76.4 102.9 114.1 123.6 126.3 123.1 103.3 7

 8 Consumer credit 132.4 151.0 154.1 155.3 144.6 138.1 125.9 122.6 116.1 134.4 8

 9 Miscellaneous assets 4.0 6.2 12.4 15.1 18.0 16.1 27.2 20.2 29.1 12.9 9

10 Total liabilities 345.9 407.4 449.1 490.3 533.0 560.9 591.8 608.4 614.7 654.9 10

11 Credit market instruments 241.0 301.5 313.6 337.5 375.0 398.1 411.7 416.6 415.3 452.5 11

12 Open market paper 102.7 124.3 135.0 152.1 160.7 163.8 155.2 149.2 149.1 171.6 12

13 Corporate bonds 105.3 131.6 141.2 147.0 162.7 179.5 194.3 203.1 215.6 247.4 13

14 Depository institution loans n.e.c. 33.1 45.7 37.4 38.4 51.6 54.8 62.3 64.3 50.6 33.5 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 15

16 Taxes payable 0.1 0.2 0.4 0.7 1.0 1.4 1.9 2.6 3.3 4.1 16

17 Miscellaneous liabilities 104.7 105.7 135.1 152.1 157.0 161.4 178.1 189.2 196.0 198.3 17

18 Foreign direct investment in U.S. 1.4 3.6 3.5 2.7 9.3 4.6 5.6 4.2 10.2 6.0 18

19 Investment by parent 60.6 70.9 59.4 36.8 35.2 36.7 32.4 34.3 35.6 41.8 19

20 Other 42.8 31.2 72.2 112.7 112.4 120.1 140.1 150.6 150.3 150.5 20

 Memo:

21 Consumer leases not included above (2) 8.6 11.4 13.7 16.6 19.4 26.1 33.5 39.0 49.3 67.5 21

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table L.124.
78 FFA, 1985-1994, December 6, 2012

L.126 Real Estate Investment Trusts (REITs)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 10.4 15.0 23.4 28.5 30.7 28.5 29.0 28.1 30.0 31.0 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 8.7 13.7 21.2 25.4 26.0 24.2 23.6 25.0 25.4 24.6 3

 4 Agency- and GSE-backed securities 2.8 7.7 14.2 16.7 17.6 16.5 16.6 15.9 15.6 9.2 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.2 2.1 5

 6 Mortgages 5.9 5.9 7.0 8.7 8.4 7.7 7.0 8.1 8.6 13.3 6

 7 Home 0.3 0.3 0.3 0.4 0.4 0.4 0.4 1.1 2.2 5.1 7

 8 Multifamily residential 1.8 1.8 2.1 2.6 2.5 2.3 2.2 2.2 1.9 2.1 8

 9 Commercial 3.8 3.9 4.5 5.6 5.4 5.0 4.5 4.8 4.5 6.1 9

10 Miscellaneous assets 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 10

11 Total liabilities 8.3 14.1 22.5 28.4 29.1 28.9 31.5 33.5 37.2 55.1 11

12 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 5.0 9.7 12

13 Credit market instruments 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 13

14 Open market paper 0.7 1.1 1.4 1.3 1.1 0.9 0.9 0.9 0.6 0.0 14

15 Corporate bonds 3.7 8.5 15.3 17.1 18.0 18.1 17.9 18.2 16.8 15.3 15

16 Depository institution loans n.e.c. 0.7 1.0 1.5 3.1 4.1 4.4 5.0 3.7 3.6 6.0 16

17 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 17

18 Miscellaneous liabilities 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 18

 Memo:

19 Securitized assets included above 2.2 6.7 13.0 14.6 15.3 15.3 15.0 14.3 12.5 9.0 19

20 Agency- and GSE-backed securities 2.2 6.7 13.0 14.6 15.3 15.3 15.0 13.7 11.4 6.4 20

21 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 1.1 2.5 21

22 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23
FFA, 1985-1994, December 6, 2012 79

L.127 Security Brokers and Dealers

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 156.0 184.6 137.9 135.9 236.6 262.1 332.5 381.7 478.8 454.7 1

 2 Checkable deposits and currency 6.3 8.5 7.4 9.4 9.8 10.2 10.2 10.4 12.3 12.0 2

 3 Credit market instruments 58.2 66.3 39.8 23.5 103.7 106.5 124.0 122.7 137.5 93.3 3

 4 Open market paper 14.5 12.6 14.2 14.8 17.8 18.4 14.0 15.2 14.9 11.2 4

 5 Treasury securities -4.0 4.1 -16.7 -47.4 21.5 7.3 5.7 -7.7 -28.3 -42.7 5

 6 Agency- and GSE-backed securities 4.9 9.8 14.6 19.5 24.4 44.0 54.0 53.0 60.8 45.0 6

 7 Municipal securities 19.9 16.6 8.3 7.5 7.1 7.9 9.4 11.3 17.1 15.5 7

 8 Corporate and foreign bonds 22.9 23.2 19.4 29.1 32.9 28.9 40.9 50.9 73.0 64.4 8

 9 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Corporate equities 14.1 17.7 10.7 12.2 14.1 9.6 14.3 14.8 24.2 20.1 10

11 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 11

12 Miscellaneous assets 26.8 34.7 38.2 47.2 66.5 97.0 129.0 180.4 228.6 254.2 12

13 Total liabilities 141.3 164.3 114.5 111.5 213.2 239.2 308.7 352.8 460.6 429.1 13

14 Security RPs (net) 23.7 35.6 -8.8 -21.9 64.2 81.0 106.7 106.4 126.4 103.4 14

15 Credit market instruments 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 15

16 Corporate bonds 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 16

17 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Trade payables 8.0 7.6 6.8 8.5 8.0 6.1 6.8 7.4 10.1 9.1 18

19 Security credit 80.5 83.6 73.5 74.8 91.4 98.6 133.8 164.2 202.9 203.9 19

20 Customer credit balances (HH) 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 20

21 From U.S.-chartered depository institutions 38.5 32.5 29.4 29.0 33.2 27.8 30.0 57.3 61.4 56.8 21

22 From foreign banking offices in U.S. 7.0 7.1 5.0 4.9 5.0 8.4 16.8 30.7 39.3 38.1 22

23 Taxes payable 0.8 0.9 0.4 0.5 0.6 0.7 0.9 0.9 1.4 1.2 23

24 Miscellaneous liabilities 27.0 33.1 39.4 42.0 35.2 37.5 41.5 52.2 86.1 77.2 24

25 Foreign direct investment in U.S. 3.8 3.6 3.1 4.8 6.3 3.8 5.8 5.3 23.7 14.0 25

26 Investment by funding corporations 43.3 46.7 60.6 87.5 95.4 82.3 85.8 102.3 127.5 144.2 26

27 Other -20.2 -17.2 -24.4 -50.3 -66.5 -48.6 -50.0 -55.4 -65.1 -81.0 27

(1) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
80 FFA, 1985-1994, December 6, 2012

L.128 Holding Companies (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 259.5 286.3 297.6 319.0 338.7 325.4 328.6 363.3 407.6 438.8 1

 2 Time and savings deposits 20.2 20.4 18.5 18.8 18.9 4.6 2.4 1.4 1.3 0.9 2

 3 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.4 1.4 1.3 0.8 1.0 3

 4 Credit market instruments 11.8 11.5 13.5 13.4 16.2 13.4 11.9 17.5 17.5 18.4 4

 5 Treasury securities 0.8 0.6 0.7 0.8 0.9 0.7 1.0 6.1 5.3 4.6 5

 6 Agency- and GSE-backed securities 2.1 1.7 2.1 2.1 2.4 1.9 2.4 2.2 3.1 4.8 6

 7 Corporate and foreign bonds 6.8 5.5 6.5 6.7 7.5 5.6 5.1 5.4 7.2 7.1 7

 8 Other loans and advances 2.1 3.6 4.1 3.9 5.5 5.3 3.4 3.7 1.9 1.8 8

 9 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Miscellaneous assets 227.4 254.3 265.6 286.7 303.6 307.0 312.9 343.1 388.0 418.6 10

11 Net transactions with depository subsidiaries 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 11

12 Net transactions with property-casualty insurance co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Net transactions with life insurance company subsidiaries 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 Net transactions with finance company subsidiaries 43.9 52.2 46.9 27.3 25.3 21.2 14.8 14.8 21.2 25.2 14

15 Net transactions with broker and dealer subsidiaries 27.3 27.3 38.9 59.0 67.0 48.5 41.3 38.7 46.6 47.3 15

16 Net transactions with foreign subsidiaries 16.6 15.3 11.8 10.1 8.3 7.9 10.3 4.5 6.8 14.6 16

17 Other 4.2 6.0 7.3 6.6 8.8 17.7 17.3 19.1 17.3 19.8 17

18 Total liabilities 122.2 144.4 160.6 166.2 175.8 148.4 136.8 140.4 147.8 164.1 18

19 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 19

20 Credit market instruments 118.7 130.0 145.0 149.9 155.2 124.6 118.5 118.4 128.0 141.5 20

21 Commercial paper 46.4 43.1 44.6 44.4 48.8 30.1 24.3 20.4 25.6 31.6 21

22 Corporate bonds 59.8 73.7 86.5 91.8 93.7 84.7 88.0 94.1 97.7 102.0 22

23 Depository institution loans n.e.c. 12.5 13.2 13.9 13.6 12.7 9.8 6.2 3.8 4.6 7.9 23

24 Miscellaneous liabilities 3.5 14.4 15.6 16.3 20.6 23.8 18.3 22.0 19.7 22.5 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.
FFA, 1985-1994, December 6, 2012 81

L.129 Funding Corporations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 123.5 134.5 171.7 203.3 218.6 235.6 268.4 327.4 331.1 356.5 1

 2 Money market fund shares 3.7 6.3 8.5 12.5 20.6 36.6 54.1 80.9 95.8 108.9 2

 3 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 109.9 106.6 4

 5 Open market paper 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 105.9 92.6 5

 6 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 14.0 6

 7 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 9

10 Investment in foreign banking offices 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 10

11 Investment in brokers and dealers 16.0 19.4 21.7 28.5 28.3 33.8 44.5 63.7 80.8 96.9 11

12 Total liabilities 123.5 134.5 171.7 203.3 218.6 235.6 268.4 327.4 331.1 356.5 12

13 Credit market instruments 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 13

14 Open market paper 35.6 54.1 72.5 111.6 125.4 139.4 128.4 142.2 140.3 151.1 14

15 Corporate bonds 3.1 4.6 7.2 6.2 4.9 7.7 14.7 26.4 40.0 60.0 15

16 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Miscellaneous liabilities 84.8 75.8 92.0 85.6 88.4 88.5 125.3 158.9 150.8 145.4 18

19 Foreign direct investment in U.S. 0.0 -12.4 -23.9 -42.4 -52.4 -65.7 -51.4 -53.8 -54.9 -70.1 19

20 Securities loaned (net) 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 20

21 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Other (net) 78.0 76.2 100.8 104.8 101.5 82.7 73.7 59.1 8.6 -6.2 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.
82 FFA, 1985-1994, December 6, 2012

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 37.5 43.4 41.7 43.3 70.0 79.2 73.7 67.0 69.1 70.4 1

 2 Federal government: SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 2

 3 Rest of the world 32.1 37.5 34.7 36.7 63.6 72.3 66.7 60.3 62.4 63.3 3

 4 SDR holdings 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 4

 5 Reserve position in IMF (net) 12.0 11.7 11.3 9.7 9.0 9.1 9.5 11.8 11.8 12.0 5

 6 Foreign currency holdings 12.9 17.3 13.1 17.4 44.6 52.2 45.9 40.0 41.5 41.2 6

 7 Total assets 48.6 54.5 52.8 54.4 81.0 90.3 84.7 78.1 80.2 81.5 7

 8 Federal government 25.1 28.0 29.1 27.7 32.3 39.7 39.1 38.8 40.2 41.4 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 9

10 SDR holdings 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 10

11 Reserve position in IMF (net) 12.0 11.8 11.4 9.8 9.1 9.1 9.6 11.9 11.9 12.1 11

12 Foreign currency holdings 5.8 7.9 7.4 8.2 13.2 19.6 18.3 18.5 19.2 19.2 12

13 Rest of the world: SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 13

14 Monetary authority 18.1 20.5 16.7 20.1 42.3 43.6 38.6 32.5 33.3 33.0 14

15 Monetary gold (2) 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 15

16 Reserve position in IMF (net) -0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

17 Foreign currency holdings 7.0 9.5 5.7 9.1 31.3 32.6 27.6 21.5 22.3 22.0 17

18 Discrepancy: monetary gold -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 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

 SDR certificates:

 1 Liab: Federal government 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 1

 2 Asset: Monetary authority 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 2

 Treasury currency:

 3 Liab: Federal government 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 3

 4 Asset: Monetary authority 17.1 17.6 18.2 18.8 19.6 20.4 21.0 21.4 22.1 23.0 4

 5 Discrepancy (seigniorage) -3.8 -3.8 -4.0 -4.1 -4.3 -4.1 -4.7 -4.9 -5.1 -5.3 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 1

 Held by:

 2 Household sector 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 2

 3 Nonfinancial corporate business 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 3

 4 Money market mutual funds 18.9 22.0 21.4 29.3 26.1 26.7 21.4 20.3 10.0 15.7 4

 5 Discrepancy--unallocated assets 105.8 129.9 165.9 167.1 214.2 243.1 221.1 216.1 231.6 323.7 5
FFA, 1985-1994, December 6, 2012 83

L.203 Net Interbank Transactions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities -0.9 21.6 52.2 56.3 46.0 74.6 72.4 107.8 162.3 268.3 1

 2 Monetary authority 54.2 73.8 66.6 66.9 67.0 71.2 63.0 63.9 67.6 68.9 2

 3 U.S.-chartered depository institutions -66.6 -71.8 -49.5 -53.5 -71.0 -54.7 -45.6 -55.6 -23.2 61.8 3

 4 Foreign banking offices in U.S. 39.3 55.1 70.0 74.0 78.7 87.0 88.8 134.3 151.0 162.3 4

 5 Banks in U.S.-affiliated areas -4.5 -4.4 -3.6 -3.0 -2.6 -2.5 -1.8 -1.3 -1.0 -1.4 5

 6 Credit unions -23.3 -31.0 -31.4 -28.2 -26.0 -26.5 -32.1 -33.6 -32.1 -23.2 6

 7 Total assets 43.9 76.7 112.4 115.6 104.5 134.8 110.9 152.2 200.8 301.2 7

 8 Rest of the world -14.3 0.1 41.1 45.3 35.9 61.2 46.9 84.3 132.2 232.8 8

 9 Monetary authority 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 9

10 U.S.-chartered depository institutions 52.2 71.2 64.5 65.8 66.0 70.0 62.1 63.3 66.6 68.0 10

11 Foreign banking offices in U.S. 2.0 2.6 2.2 1.1 1.0 1.2 0.9 0.7 1.0 1.0 11

12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Discrepancy -44.8 -55.1 -60.2 -59.4 -58.5 -60.3 -38.5 -44.4 -38.5 -32.8 13

 Memo:

 Vault cash:

14 Liab.: Monetary authority 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 14

15 Asset: U.S.-chartered depository institutions 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 15

 Depository institution reserves:

16 Liab.: Monetary authority 28.6 48.1 41.8 39.3 38.3 38.7 29.4 32.1 35.0 30.8 16

17 Asset: U.S.-chartered depository institutions 26.6 45.5 39.6 38.3 37.3 37.4 28.5 31.4 34.0 29.8 17

18 Foreign banking offices in U.S. 2.0 2.6 2.2 1.1 1.0 1.2 0.9 0.7 1.0 1.0 18

19 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Other transactions with the monetary authority

20 Liab: U.S.-chartered depository institutions 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 20

21 Asset: Monetary authority 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 21

22 Federal Reserve float 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 22

23 Loans to member banks 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 23

 Transactions with banks in foreign countries (net):

24 Liab.: U.S.-chartered depository institutions (net) -2.6 -6.2 10.0 12.3 4.3 21.0 15.3 -11.5 7.9 82.3 24

25 Due to foreign affiliates 42.8 37.8 49.8 61.9 52.2 67.1 74.5 84.2 90.8 143.4 25

26 - Due from foreign affiliates 45.5 44.0 39.8 49.6 47.9 46.1 59.2 95.6 82.9 61.1 26

27 Foreign banking offices in U.S. (net) 2.3 19.2 42.0 43.5 40.3 48.4 42.7 105.1 134.3 161.3 27

28 Due to foreign affiliates 43.0 61.6 74.7 75.0 61.8 69.6 75.1 84.6 83.0 84.3 28

29 - Due from foreign affiliates 40.6 42.4 32.7 31.4 21.5 21.3 32.4 -20.5 -51.3 -77.0 29

30 Less: Deposits at foreign banks 14.0 12.9 10.9 10.5 8.6 8.2 11.0 9.3 10.0 10.8 30

31 U.S.-chartered depository institutions 12.6 11.6 9.7 9.6 7.2 6.5 9.4 7.7 8.4 8.0 31

32 Foreign banking offices in U.S. 1.4 1.3 1.2 1.0 1.4 1.7 1.6 1.6 1.6 2.9 32

33 Asset: Rest of the world (1) -14.3 0.1 41.1 45.3 35.9 61.2 46.9 84.3 132.2 232.8 33

 Transactions between U.S. depository institutions (net) (2):

34 U.S.-chartered depository institutions (net) -55.4 -56.8 -54.4 -59.6 -69.7 -71.6 -52.4 -40.3 -23.7 -12.0 34

35 Due to (3): 13.2 17.8 21.4 25.4 31.7 35.5 46.6 36.8 43.0 48.1 35

36 Foreign banking offices in U.S. 30.2 37.5 46.7 53.7 61.5 66.8 51.2 46.4 48.4 56.3 36

37 Banks in U.S.-affiliated areas 4.5 4.4 3.6 3.0 2.6 2.5 1.8 1.3 1.0 1.4 37

38 Credit unions 23.3 31.0 31.4 28.2 26.0 26.5 32.1 33.6 32.1 23.2 38

39 - Due from: Foreign banking offices in U.S. 68.6 74.7 75.8 85.1 101.4 107.1 99.0 77.2 66.7 60.2 39

40 Unallocated (2) -44.8 -55.1 -60.2 -59.4 -58.5 -60.3 -38.5 -44.4 -38.5 -32.8 40

(1) Sum of lines 24 and 27 less line 30.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 40), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 36, 37, 38, and 40.
84 FFA, 1985-1994, December 6, 2012

L.204 Checkable Deposits and Currency

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 1

 2 Monetary authority 182.4 195.7 212.4 230.1 240.3 264.4 295.1 311.3 348.5 374.2 2

 3 Federal government cash and deposits 9.9 8.0 5.8 9.1 6.7 9.5 18.3 8.0 15.2 7.5 3

 4 Due to government-sponsored enterprises 0.0 0.9 1.0 0.5 1.2 0.2 1.6 0.2 0.3 0.8 4

 5 Deposits due to foreign 0.5 0.4 0.3 0.4 0.6 0.4 1.0 0.2 0.4 0.3 5

 6 Currency outside banks 171.9 186.3 205.3 220.1 231.8 254.4 274.2 302.8 332.6 365.7 6

 7 U.S.-chartered depository institutions 506.2 616.5 602.7 625.3 620.6 637.8 692.7 784.2 862.3 822.2 7

 8 Federal government deposits 25.8 27.5 21.6 29.0 25.6 30.9 36.4 30.6 42.6 23.8 8

 9 Deposits due to foreign 16.0 18.7 17.2 16.6 16.7 16.3 14.1 15.8 15.6 17.1 9

10 Private domestic deposits 464.4 570.4 563.8 579.7 578.3 590.6 642.2 737.8 804.1 781.3 10

11 Foreign banking offices in U.S. 7.3 8.3 7.6 8.7 8.4 8.7 8.9 8.3 8.3 8.8 11

12 Deposits due to foreign 4.7 4.8 4.9 4.9 4.8 5.1 5.3 5.8 5.7 6.1 12

13 Private domestic deposits 2.7 3.5 2.7 3.7 3.6 3.6 3.6 2.5 2.7 2.7 13

14 Banks in U.S.-affiliated areas 4.9 5.4 5.4 5.6 6.1 5.4 5.2 5.8 6.1 6.2 14

15 Credit unions 12.6 13.0 14.7 15.5 16.8 18.3 20.5 25.1 26.8 28.8 15

16 Total assets 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 16

17 Household sector 344.8 461.9 460.8 460.5 462.2 450.8 505.0 616.4 667.5 636.3 17

18 Nonfinancial business 198.3 202.4 212.9 231.4 241.7 250.1 259.1 260.3 284.2 308.3 18

19 Corporate 126.5 128.1 137.7 151.6 160.7 166.9 173.8 169.6 190.2 202.1 19

20 Noncorporate 71.8 74.4 75.2 79.8 81.0 83.2 85.3 90.7 93.9 106.3 20

21 State and local governments 14.8 17.3 16.5 24.9 25.2 24.0 30.4 31.6 33.6 35.3 21

22 Federal government 34.0 32.8 21.4 32.1 25.6 25.4 50.9 31.7 52.2 27.8 22

23 Rest of the world 54.4 59.6 62.0 65.6 69.5 85.8 97.2 109.8 126.2 148.6 23

24 Checkable deposits 21.2 23.9 22.5 21.9 22.1 21.8 20.4 21.9 21.6 23.5 24

25 Currency 33.3 35.7 39.5 43.7 47.4 64.0 76.8 87.9 104.5 125.1 25

26 Financial sectors 28.1 33.8 34.4 40.4 39.2 53.2 41.0 41.4 47.5 47.8 26

27 Property-casualty insurance companies 4.3 5.6 5.5 5.4 6.0 6.5 5.3 5.6 5.2 5.0 27

28 Life insurance companies 5.1 5.8 4.9 4.6 5.0 4.9 5.5 4.8 5.2 5.6 28

29 Private pension funds 3.3 1.9 1.7 4.5 4.1 3.3 3.0 3.0 3.2 4.0 29

30 State and local govt. retirement funds 2.4 3.1 4.8 4.4 3.2 5.0 3.8 6.5 6.6 6.7 30

31 Money market mutual funds 0.2 -0.0 -0.3 0.7 0.1 11.2 -0.2 -2.7 -1.2 -2.5 31

32 Government-sponsored enterprises 2.1 3.7 3.6 3.6 2.3 2.1 1.2 1.2 2.1 1.3 32

33 Finance companies 4.4 5.4 6.7 7.9 8.7 9.9 12.2 12.6 14.1 15.5 33

34 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 Brokers and dealers 6.3 8.5 7.4 9.4 9.8 10.2 10.2 10.4 12.3 12.0 35

36 Mail float 39.0 31.0 34.8 30.2 28.8 45.6 38.9 43.5 41.0 36.0 36
FFA, 1985-1994, December 6, 2012 85

L.205 Time and Savings Deposits 

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 2341.6 2471.0 2590.2 2782.5 2898.3 2896.1 2839.2 2708.8 2614.9 2597.1 1

 2 Small time and savings deposits 1853.1 1978.9 2048.3 2187.4 2285.3 2349.2 2350.8 2293.6 2223.2 2185.8 2

 3 U.S.-chartered depository institutions 1730.7 1827.6 1885.1 2012.2 2101.7 2150.0 2135.3 2061.9 1982.8 1940.3 3

 4 Foreign banking offices in U.S. 4.9 7.1 7.8 8.3 12.0 11.0 11.0 11.2 10.4 9.3 4

 5 Banks in U.S.-affiliated areas 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 5

 6 Credit unions 111.7 137.8 149.2 160.5 164.7 179.1 196.5 212.0 221.8 227.3 6

 7 Large time deposits (1) 488.5 492.1 541.9 595.1 613.0 546.9 488.4 415.2 391.7 411.2 7

 8 U.S.-chartered depository institutions 450.9 445.8 491.5 537.8 547.6 485.2 376.9 292.8 269.1 284.9 8

 9 Foreign banking offices in U.S. 30.7 38.3 42.1 48.4 52.9 49.2 99.3 108.2 107.4 110.0 9

10 Banks in U.S.-affiliated areas 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 10

11 Credit unions 1.2 1.8 2.1 2.5 5.5 3.4 4.2 5.8 6.9 7.3 11

12 Total assets 2341.6 2471.0 2590.2 2782.5 2898.3 2896.1 2839.2 2708.8 2614.9 2597.1 12

13 Household sector 2001.9 2102.5 2217.4 2392.7 2466.9 2512.1 2440.8 2333.0 2218.3 2181.4 13

14 Nonfinancial business 109.9 127.8 126.3 129.2 129.0 125.6 130.8 136.2 155.6 163.5 14

15 Corporate 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 15

16 Noncorporate 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 16

17 State and local governments 65.9 68.2 75.3 73.4 70.6 67.5 56.5 50.3 48.8 55.3 17

18 Federal government 1.2 1.4 1.7 1.4 1.3 1.4 1.6 0.9 0.8 0.7 18

19 Rest of the world 33.7 31.3 32.1 35.5 40.2 39.5 39.3 38.2 45.1 46.6 19

20 Financial sectors 128.9 139.7 137.4 150.3 190.3 149.9 170.3 150.2 146.3 149.6 20

21 Private pension funds 76.6 87.0 76.2 87.1 114.6 110.4 115.9 98.8 95.4 102.1 21

22 State and local govt. retirement funds 13.3 9.9 5.2 7.1 9.1 7.7 8.8 6.9 6.2 2.5 22

23 Money market mutual funds 17.3 20.1 34.5 33.8 43.0 21.9 35.1 34.6 31.9 31.4 23

24 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Finance companies 1.5 2.3 2.9 3.4 4.7 5.3 8.1 8.4 11.5 12.7 25

26 Holding companies 20.2 20.4 18.5 18.8 18.9 4.6 2.4 1.4 1.3 0.9 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

 1 Total assets 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 1

 2 Household sector 196.3 235.1 256.0 273.0 351.1 389.4 407.7 365.5 363.5 373.1 2

 3 Nonfinancial corporate business 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 3

 4 Nonfinancial noncorporate business 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 5

 6 Rest of the world 0.0 0.0 0.0 0.0 0.4 1.2 2.0 2.7 3.5 4.3 6

 7 Property-casualty insurance companies 8.3 8.3 8.6 9.8 9.7 10.8 9.4 11.4 11.1 10.3 7

 8 Life insurance companies 9.1 10.0 6.9 7.0 6.2 8.4 8.5 8.7 8.8 8.9 8

 9 Private pension funds 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 9

10 State and local govt. retirement funds 1.4 1.7 2.0 2.3 2.8 2.8 3.0 3.1 4.1 5.0 10

11 Funding corporations 3.7 6.3 8.5 12.5 20.6 36.6 54.1 80.9 95.8 108.9 11
86 FFA, 1985-1994, December 6, 2012

L.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 220.1 267.8 264.4 289.1 359.8 336.1 327.0 366.9 437.0 512.3 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Private depository institutions (net) 196.4 232.3 273.2 310.9 295.6 255.1 220.2 257.5 305.5 399.1 3

 4 U.S.-chartered depository institutions (net) 197.1 227.0 268.1 301.4 286.9 240.1 195.1 232.1 279.2 364.0 4

 5 Foreign banking offices in U.S. (net) 7.6 16.1 14.4 18.9 21.2 29.6 38.4 39.0 34.7 41.4 5

 6 Credit unions (net) -8.4 -10.9 -9.2 -9.4 -12.5 -14.6 -13.2 -13.5 -8.5 -6.2 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 5.0 9.7 9

10 Brokers and dealers (net) 23.7 35.6 -8.8 -21.9 64.2 81.0 106.7 106.4 126.4 103.4 10

11 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 11

12 Total assets 168.5 204.1 213.7 227.5 289.4 321.1 351.1 385.7 413.1 426.7 12

13 Nonfinancial corporate business 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 13

14 State and local governments 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 14

15 Rest of the world (net) 7.5 10.9 13.1 13.0 23.1 19.7 20.9 41.7 58.6 46.6 15

16 Monetary authority 5.2 16.0 5.0 6.9 2.1 18.4 15.9 8.1 13.2 10.6 16

17 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Private pension funds 19.2 20.9 20.4 22.7 24.8 23.5 27.2 27.4 28.3 22.2 19

20 State and local govt. retirement funds 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 20

21 Money market mutual funds 25.9 31.9 38.9 41.2 54.3 58.2 67.0 65.9 66.4 68.8 21

22 Mutual funds 1.3 2.8 3.6 4.9 4.8 6.1 12.2 21.9 38.7 43.1 22

23 Government-sponsored enterprises (net) 26.9 29.4 27.2 33.8 61.8 68.7 67.6 66.6 50.3 85.8 23

24 Holding companies 0.0 0.0 0.0 0.0 0.0 0.4 1.4 1.3 0.8 1.0 24

25 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Discrepancy--unallocated assets 51.7 63.7 50.7 61.5 70.4 15.0 -24.1 -18.8 23.9 85.6 26
FFA, 1985-1994, December 6, 2012 87

L.208 Open Market Paper

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total outstanding, all types 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 1

 2 Commercial paper 293.9 326.1 373.6 451.8 521.9 557.8 528.1 545.1 553.8 600.1 2

 3 Nonfinancial corporate business 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 3

 4 Foreign issues in U.S. 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 4

 5 Nonfinancial 8.0 10.1 12.5 12.0 16.3 20.6 26.1 30.6 27.5 15.2 5

 6 Financial 26.0 27.3 28.7 38.0 46.7 54.8 56.0 47.8 41.3 27.5 6

 7 Financial business 187.8 225.9 258.6 316.1 351.7 365.6 347.5 359.6 367.1 418.2 7

 8 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 8

 9 ABS issuers 2.4 3.3 5.1 6.8 15.7 31.4 38.7 46.9 51.6 63.9 9

10 Finance companies 102.7 124.3 135.0 152.1 160.7 163.8 155.2 149.2 149.1 171.6 10

11 REITs 0.7 1.1 1.4 1.3 1.1 0.9 0.9 0.9 0.6 0.0 11

12 Holding companies 46.4 43.1 44.6 44.4 48.8 30.1 24.3 20.4 25.6 31.6 12

13 Funding corporations 35.6 54.1 72.5 111.6 125.4 139.4 128.4 142.2 140.3 151.1 13

14 Bankers’ acceptances (1) 64.6 58.8 64.3 61.6 57.4 52.1 37.8 33.9 26.3 23.4 14

15 U.S.-chartered depository institutions 40.2 31.5 30.5 27.2 22.0 17.6 12.9 12.8 10.2 10.0 15

16 Foreign banking offices in U.S. 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 16

17 Holdings, by sector 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 17

18 Household sector 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 18

19 Nonfinancial corporate business 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 19

20 State and local governments 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 20

21 Rest of the world 8.2 8.0 9.0 11.8 12.7 10.7 11.3 12.9 18.8 24.9 21

22 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 U.S.-chartered depository institutions (1) 12.0 12.8 13.3 13.4 12.5 9.3 8.8 6.5 5.2 3.7 23

24 Foreign banking offices in U.S. (1) 1.2 1.0 2.2 1.7 2.1 4.1 3.1 3.3 2.4 2.2 24

25 Credit unions 0.2 0.7 0.5 0.9 1.1 2.3 2.6 3.0 2.2 2.1 25

26 Property-casualty insurance companies 11.8 11.9 12.3 14.0 13.9 15.5 13.5 16.3 15.9 14.7 26

27 Life insurance companies 29.1 34.5 34.0 39.2 42.8 45.7 45.8 43.2 46.9 52.8 27

28 Private pension funds 22.1 26.4 33.6 27.5 26.9 26.4 29.7 29.5 30.2 24.0 28

29 State and local govt. retirement funds 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 29

30 Money market mutual funds 98.4 104.4 110.1 127.5 184.5 204.0 190.6 173.6 164.4 187.2 30

31 Mutual funds 7.9 15.8 19.5 28.6 28.0 28.5 12.2 21.9 38.7 43.1 31

32 Government-sponsored enterprises 0.1 0.1 0.0 0.4 3.3 3.8 10.9 13.5 11.9 26.3 32

33 Brokers and dealers 14.5 12.6 14.2 14.8 17.8 18.4 14.0 15.2 14.9 11.2 33

34 Funding corporations 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 105.9 92.6 34

(1) Excludes banks’ holdings of own acceptances.
88 FFA, 1985-1994, December 6, 2012

L.209 Treasury Securities

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 1

 2 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 2

 3 Treasury bills 399.9 426.7 389.5 414.0 430.6 527.4 590.4 657.7 714.6 733.8 3

 4 Other Treasury securities 1106.9 1282.2 1454.0 1558.8 1678.7 1812.1 2029.3 2246.6 2423.3 2551.9 4

 5 Total assets 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 5

 6 Household sector 282.2 270.9 308.2 393.5 394.9 504.0 535.5 627.3 673.2 871.0 6

 7 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 7

 8 Bills and other Treasury securities 202.5 177.6 207.1 283.9 277.2 377.8 397.4 470.1 501.3 691.1 8

 9 Nonfinancial corporate business 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 9

10 Nonfinancial noncorporate business 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 10

11 State and local governments 258.7 315.7 357.6 364.3 369.1 410.6 435.5 418.2 447.8 370.0 11

12 Rest of the world 226.4 269.4 296.3 353.8 423.7 438.4 476.3 520.3 594.6 632.6 12

13 Treasury bills 69.1 90.4 101.7 115.1 91.1 96.8 110.7 127.6 176.7 162.9 13

14 Other Treasury securities 157.3 179.0 194.6 238.8 332.6 341.6 365.6 392.7 417.8 469.6 14

15 Monetary authority 177.8 197.6 218.9 233.7 226.8 235.1 266.5 295.0 332.0 364.5 15

16 Treasury bills 85.4 103.8 107.7 112.8 104.6 112.5 132.6 141.8 160.4 177.4 16

17 Other Treasury securities 92.4 93.9 111.2 120.9 122.2 122.6 133.9 153.2 171.6 187.1 17

18 U.S.-chartered depository institutions 217.1 226.5 233.0 210.9 182.5 183.3 232.7 288.3 303.2 275.1 18

19 Foreign banking offices in U.S. 4.8 6.9 6.5 6.6 6.4 11.4 20.8 29.6 36.1 32.7 19

20 Banks in U.S.-affiliated areas 1.2 1.7 1.7 1.9 2.2 2.5 2.8 4.3 5.8 5.1 20

21 Credit unions 6.2 8.0 11.2 14.4 12.1 8.5 14.1 19.9 22.6 22.1 21

22 Property-casualty insurance companies 32.3 46.1 54.7 64.2 75.2 83.6 108.1 113.6 129.3 137.4 22

23 Life insurance companies 51.7 59.0 57.1 58.6 52.9 59.2 77.8 88.8 110.0 107.1 23

24 Private pension funds 128.6 112.8 113.0 112.7 122.4 122.4 117.1 108.7 104.3 121.1 24

25 State and local govt. retirement funds 85.4 115.3 138.9 150.7 152.4 168.2 165.5 203.5 217.5 215.6 25

26 Federal government retirement funds 0.0 0.0 1.1 2.7 4.9 7.3 9.8 12.7 15.4 19.0 26

27 Money market mutual funds 24.4 27.8 14.1 11.4 14.6 44.9 78.3 78.4 79.4 66.1 27

28 Mutual funds 38.8 71.2 84.1 80.3 81.4 87.1 103.9 110.4 134.0 130.5 28

29 Closed-end funds 0.6 1.0 1.6 4.8 6.6 6.8 10.0 11.6 13.7 12.8 29

30 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Government-sponsored enterprises 6.8 16.3 21.0 26.3 13.0 34.3 40.8 58.7 51.6 51.9 31

32 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Brokers and dealers -4.0 4.1 -16.7 -47.4 21.5 7.3 5.7 -7.7 -28.3 -42.7 33

34 Holding companies 0.8 0.6 0.7 0.8 0.9 0.7 1.0 6.1 5.3 4.6 34

 Memo:

35 Federal government debt (1) 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 35

(1) Total Treasury securities (line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 11).
FFA, 1985-1994, December 6, 2012 89

L.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 1

 2 Budget agencies 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 2

 3 Government-sponsored enterprises 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 3

 4 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 4

 5 Total assets 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 5

 6 Household sector 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.6 6

 7 Nonfinancial corporate business 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 7

 8 State and local governments 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Rest of the world 17.5 25.0 28.3 34.2 47.2 49.4 58.5 71.4 103.2 106.8 10

11 Monetary authority 8.2 7.8 7.6 7.6 6.5 6.3 6.0 5.4 4.6 3.6 11

12 U.S.-chartered depository institutions 221.0 303.8 375.3 425.1 431.0 460.6 466.2 503.2 543.6 558.0 12

13 Foreign banking offices in U.S. 1.1 2.6 3.8 4.9 5.2 7.2 11.2 14.1 21.5 23.0 13

14 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.4 0.8 0.9 1.0 2.1 2.3 2.8 14

15 Credit unions 7.0 8.8 8.8 7.1 6.3 14.4 19.6 28.7 36.3 40.9 15

16 Property-casualty insurance companies 22.2 22.3 22.3 22.6 26.0 32.0 42.1 42.6 44.5 45.8 16

17 Life insurance companies 49.4 60.0 67.0 75.7 100.8 121.0 164.2 193.0 222.8 234.1 17

18 Private pension funds 67.1 59.2 72.3 86.7 110.5 133.1 146.0 156.5 170.6 211.5 18

19 State and local govt. retirement funds 38.1 38.1 43.0 35.3 51.2 62.9 58.0 39.8 35.8 39.9 19

20 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.5 20

21 Money market mutual funds 18.0 15.0 26.7 18.2 20.8 36.4 40.6 54.3 67.8 77.2 21

22 Mutual funds 26.1 63.4 66.2 62.8 64.5 72.6 96.7 147.0 172.6 165.8 22

23 Government-sponsored enterprises 0.8 0.2 0.1 0.3 6.3 11.9 34.8 47.5 66.0 130.8 23

24 ABS issuers 10.2 53.5 81.8 107.1 99.1 103.3 76.6 60.0 83.6 106.5 24

25 REITs 2.8 7.7 14.2 16.7 17.6 16.5 16.6 15.9 15.6 9.2 25

26 Brokers and dealers 4.9 9.8 14.6 19.5 24.4 44.0 54.0 53.0 60.8 45.0 26

27 Holding companies 2.1 1.7 2.1 2.1 2.4 1.9 2.4 2.2 3.1 4.8 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mac, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown in table L.209, line 35.
90 FFA, 1985-1994, December 6, 2012

L.211 Municipal Securities and Loans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 1

 2 State and local governments 651.1 724.9 817.7 884.0 931.6 977.8 1068.6 1085.2 1143.9 1097.9 2

 3 Short-term (1) 20.5 20.4 19.6 21.5 24.8 27.8 34.7 33.6 35.4 33.2 3

 4 Long-term 630.6 704.5 798.1 862.5 906.8 950.0 1033.9 1051.6 1108.5 1064.7 4

 5 Nonprofit organizations (2) 81.3 78.4 78.1 79.6 82.7 85.7 89.5 91.9 93.0 96.1 5

 6 Nonfinancial corporate business 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 6

 (industrial revenue bonds)

 7 Total assets 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 7

 8 Household sector 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 640.8 594.1 8

 9 Nonfinancial corporate business 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 9

10 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 10

11 State and local governments 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 11

12 Rest of the world 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 2.8 3.0 12

13 U.S.-chartered depository institutions 234.5 205.8 176.7 153.8 135.8 119.8 105.1 99.1 101.0 99.0 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 14

15 Banks in U.S.-affiliated areas 0.6 0.6 0.6 0.7 0.6 0.6 0.5 0.5 0.2 0.6 15

16 Property-casualty insurance companies 88.2 101.9 124.8 134.1 134.8 136.9 126.8 134.3 146.1 153.8 16

17 Life insurance companies 9.7 11.7 10.7 9.1 9.0 12.3 10.2 11.4 14.7 12.8 17

18 State and local govt. retirement funds 1.1 0.7 0.8 0.5 0.3 0.5 0.6 0.4 1.4 1.1 18

19 Money market mutual funds 36.4 64.1 61.8 66.1 70.1 84.0 90.6 96.0 105.6 113.4 19

20 Mutual funds 34.9 67.0 74.8 82.9 98.6 112.6 139.7 168.4 211.3 207.0 20

21 Closed-end funds 1.0 2.0 3.3 7.5 12.1 14.1 25.4 39.7 51.8 53.4 21

22 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Government-sponsored enterprises 1.6 2.3 2.4 2.9 2.9 3.7 3.0 3.2 3.1 5.2 23

24 Brokers and dealers 19.9 16.6 8.3 7.5 7.1 7.9 9.4 11.3 17.1 15.5 24

(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).
FFA, 1985-1994, December 6, 2012 91

L.212 Corporate and Foreign Bonds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 886.4 1116.4 1282.0 1447.6 1603.5 1732.8 1915.6 2096.5 2509.0 2715.8 1

 2 Nonfinancial corporate business 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 2

 3 Rest of the world (1) 75.0 85.7 93.9 104.2 116.9 144.7 176.8 200.8 309.7 310.4 3

 4 Financial sectors 233.1 325.4 404.0 456.1 525.5 580.0 651.9 741.2 861.4 976.9 4

 5 U.S.-chartered depository institutions 25.1 32.3 37.3 38.9 38.3 36.9 33.8 39.0 41.1 43.7 5

 6 ABS issuers (net) (3) 34.8 71.4 113.2 147.6 194.1 237.8 284.2 338.7 416.5 474.3 6

 7 Finance companies 105.3 131.6 141.2 147.0 162.7 179.5 194.3 203.1 215.6 247.4 7

 8 REITs 3.7 8.5 15.3 17.1 18.0 18.1 17.9 18.2 16.8 15.3 8

 9 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 9

10 Holding companies 59.8 73.7 86.5 91.8 93.7 84.7 88.0 94.1 97.7 102.0 10

11 Funding corporations 3.1 4.6 7.2 6.2 4.9 7.7 14.7 26.4 40.0 60.0 11

12 Total assets 886.4 1116.4 1282.0 1447.6 1603.5 1732.8 1915.6 2096.5 2509.0 2715.8 12

13 Household sector 94.7 127.8 144.6 135.1 178.1 237.6 270.9 283.2 428.8 534.8 13

14 State and local governments 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 14

15 Federal government 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 (2) 110.7 154.9 173.2 187.4 207.8 208.7 236.0 246.0 261.4 273.5 16

17 U.S.-chartered depository institutions 74.1 99.7 144.5 174.0 152.8 141.0 142.4 146.6 155.7 152.7 17

18 Foreign banking offices in U.S. 6.3 11.3 14.4 13.7 14.7 17.7 21.4 22.4 23.8 28.9 18

19 Banks in U.S.-affiliated areas 0.7 0.9 0.9 0.0 0.1 0.0 0.1 0.4 0.6 0.5 19

20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 Property-casualty insurance companies 33.9 48.0 55.5 65.7 79.3 89.2 97.2 97.8 103.1 110.1 21

22 Life insurance companies 280.6 321.4 388.3 457.5 511.0 566.9 595.1 653.9 719.5 779.4 22

23 Private pension funds 97.2 124.0 120.1 125.6 137.8 157.5 178.7 206.5 233.7 227.1 23

24 State and local govt. retirement funds 107.4 119.1 119.5 138.2 152.6 142.1 144.7 156.9 179.0 179.1 24

25 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.4 0.4 25

26 Money market mutual funds 1.0 1.8 2.2 2.3 3.7 2.0 3.8 6.3 11.7 15.2 26

27 Mutual funds 22.2 42.4 46.6 49.8 54.6 59.3 87.7 118.7 169.3 172.4 27

28 Closed-end funds 2.5 3.9 6.1 16.5 16.7 15.7 14.1 18.3 24.2 19.8 28

29 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 20.0 30

31 Finance companies 17.3 22.4 28.1 32.9 39.0 44.4 59.3 61.2 74.8 82.4 31

32 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.2 2.1 32

33 Brokers and dealers 22.9 23.2 19.4 29.1 32.9 28.9 40.9 50.9 73.0 64.4 33

34 Holding companies 6.8 5.5 6.5 6.7 7.5 5.6 5.1 5.4 7.2 7.1 34

35 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 14.0 35

(1) Holdings of foreign issues by U.S. residents.

(2) Holdings of U.S. issues by foreign residents.

(3) Liabilities net of assets.
92 FFA, 1985-1994, December 6, 2012

L.213 Corporate Equities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Issues at market value 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 1

 2 Nonfinancial corporate business 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 2

 3 Rest of the world (2) 44.4 72.4 94.7 128.7 197.3 197.6 279.0 314.3 543.9 626.8 3

 4 Financial corporations 309.1 369.0 328.9 388.9 477.0 377.9 570.3 746.5 910.7 893.9 4

 5 Holdings at market value 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 5

 6 Household sector 1229.5 1494.0 1462.6 1757.1 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 6

 7 State and local governments 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Rest of the world (3) 136.8 183.2 189.0 213.4 275.7 242.6 291.2 308.8 341.0 352.8 9

10 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 U.S.-chartered depository institutions 5.2 7.0 7.0 8.5 15.7 10.9 14.1 14.7 16.8 13.3 11

12 Foreign banking offices in U.S. 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Property-casualty insurance companies 57.0 61.2 65.1 71.4 84.0 79.9 94.1 97.3 103.4 111.7 13

14 Life insurance companies 74.0 76.4 80.5 81.4 91.8 81.9 135.8 151.6 205.8 231.4 14

15 Private pension funds 515.8 523.5 532.6 515.2 635.5 605.9 806.2 873.7 1014.3 1013.7 15

16 State and local govt. retirement funds 120.1 150.2 170.1 212.6 277.8 284.6 395.0 431.7 506.2 521.7 16

17 Federal government retirement funds 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 17

18 Mutual funds 113.7 161.2 181.7 187.6 250.5 233.2 308.9 401.3 607.4 709.6 18

19 Closed-end funds 4.2 7.5 10.4 14.3 17.1 16.2 21.8 23.8 26.5 31.9 19

20 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 20

21 Brokers and dealers 14.1 17.7 10.7 12.2 14.1 9.6 14.3 14.8 24.2 20.1 21

22 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 Memo:

23 Market value of domestic corporations (4) 2145.4 2516.4 2522.4 2840.5 3484.7 3217.1 4424.6 4957.1 5581.6 5513.3 23

(1) Excludes mutual fund shares shown on table L.214.

(2) Holdings of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Holdings of U.S. issues by foreign residents.

(4) Sum of lines 2 and 4 less the sum of lines 11, 12, 13, 19, 20, 21, and 22; line 1 excludes intercorporate holdings of nonfinancial corporations.

L.214 Mutual Fund Shares (1)

Billions of dollars

 1 Shares at market value 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 1

 2 Holdings at market value 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 2

 3 Household sector 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 3

 4 Nonfinancial corporate business 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 4

 5 State and local governments 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 5

 6 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 5.8 17.4 29.0 40.6 6

 7 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 2.2 1.9 3.7 3.4 3.9 2.0 7

 8 Credit unions 0.0 0.0 1.8 1.4 1.2 1.4 2.6 4.1 4.2 2.6 8

 9 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 9

10 Life insurance companies 3.5 14.5 12.1 18.5 19.1 30.7 8.6 18.2 21.3 24.4 10

11 Private pension funds 11.1 12.1 19.9 23.4 33.0 40.5 66.4 96.2 142.2 205.9 11

12 State and local govt. retirement funds 6.8 5.5 9.1 7.4 7.8 7.8 13.1 17.9 25.6 44.8 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
FFA, 1985-1994, December 6, 2012 93

L.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 678.0 756.2 758.7 808.3 864.7 856.2 811.0 793.0 786.5 849.1 1

 2 Household sector 25.4 22.9 24.1 22.5 13.4 13.9 11.6 17.4 26.0 34.6 2

 3 Corporate business 447.0 514.5 517.8 559.2 598.8 588.2 537.6 510.4 503.2 551.7 3

 4 Noncorporate business 131.4 132.0 140.7 150.0 162.7 166.7 166.7 169.5 173.9 189.2 4

 5 Rest of the world 27.9 26.9 23.3 21.5 21.4 18.5 21.6 23.9 24.6 26.1 5

 6 Foreign official institutions 6.2 6.2 5.3 4.8 3.4 2.8 2.4 3.3 2.4 2.2 6

 7 Foreign banks 9.7 10.7 7.8 7.8 8.6 5.9 6.9 7.6 8.8 8.8 7

 8 Other foreign 12.1 10.0 10.2 8.9 9.4 9.8 12.3 13.0 13.5 15.2 8

 9 Financial sectors 46.2 59.9 52.8 55.1 68.4 69.0 73.4 71.8 58.8 47.5 9

10 Finance companies 33.1 45.7 37.4 38.4 51.6 54.8 62.3 64.3 50.6 33.5 10

11 REITs 0.7 1.0 1.5 3.1 4.1 4.4 5.0 3.7 3.6 6.0 11

12 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Holding companies 12.5 13.2 13.9 13.6 12.7 9.8 6.2 3.8 4.6 7.9 13

14 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Total assets 678.0 756.2 758.7 808.3 864.7 856.2 811.0 793.0 786.5 849.1 15

16 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 U.S.-chartered depository institutions 593.1 649.2 634.6 663.3 687.6 669.9 599.3 573.1 580.9 625.5 17

18 Foreign banking offices in U.S. 75.8 97.7 115.0 135.4 149.5 156.4 185.7 195.7 181.7 197.1 18

19 Banks in U.S.-affiliated areas 9.1 9.3 9.1 9.6 9.7 13.0 10.0 10.2 9.7 11.3 19

20 Credit unions 0.0 0.0 0.0 0.0 17.9 17.0 15.9 14.0 14.2 15.1 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.
94 FFA, 1985-1994, December 6, 2012

L.216 Other Loans and Advances

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total other loans and advances 635.8 691.9 747.3 790.2 823.5 862.3 764.1 776.0 764.9 833.9 1

 2 U.S. government loans 196.8 202.3 192.1 168.3 161.1 159.3 151.7 151.7 141.3 143.3 2

 3 Liab.: Household sector 16.5 19.4 18.7 20.1 15.6 18.6 20.8 21.6 17.2 20.4 3

 4 Nonfinancial corporate business 15.6 16.1 12.8 10.9 10.6 9.8 8.7 8.7 7.1 10.9 4

 5 Nonfinancial noncorporate business 57.8 58.3 57.4 54.1 54.2 53.0 49.4 48.8 46.1 46.5 5

 6 State and local governments 26.8 27.3 24.9 9.0 8.8 9.6 10.0 9.9 9.2 9.6 6

 7 Rest of the world 74.0 75.5 73.3 69.3 67.0 63.3 57.9 58.0 57.0 56.0 7

 8 Government-sponsored enterprises 6.1 5.7 5.0 5.0 5.0 4.9 4.8 4.8 4.8 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 9

10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Foreign loans to U.S. corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 11

12 Liab.: Nonfinancial corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 12

 Customers’ liability on acceptances outstanding

13 Asset: U.S.-chartered depository institutions 37.9 30.6 29.6 26.5 21.3 17.2 12.6 12.6 10.1 9.9 13

14 Foreign banking offices in U.S. 22.1 23.8 30.2 31.0 34.0 28.3 22.7 19.1 15.1 13.0 14

15 Liab.: Nonfinancial corporate business 28.3 28.1 32.6 32.6 35.8 29.2 23.3 20.4 17.1 15.0 15

16 Rest of the world 31.6 26.3 27.3 24.9 19.6 16.3 12.0 11.3 8.2 7.9 16

17 Holding company loans 2.1 3.6 4.1 3.9 5.5 5.3 3.4 3.7 1.9 1.8 17

18 Liab.: Nonfinancial corporate business 2.1 3.6 4.1 3.9 5.5 5.3 3.4 3.7 1.9 1.8 18

19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Policy loans (Household liability) 55.5 55.4 55.3 55.3 58.4 62.5 67.3 73.0 78.6 86.4 20

21 Asset: Federal government 1.1 1.3 1.7 1.0 1.0 1.0 1.0 0.9 0.9 0.9 21

22 Life insurance companies 54.4 54.1 53.6 54.2 57.4 61.6 66.4 72.1 77.7 85.5 22

23 Government-sponsored enterprise loans (1) 115.2 132.8 157.8 176.6 168.0 144.8 110.7 111.3 135.2 158.8 23

24 Liab.: Household sector (SLMA) 0.2 0.3 0.3 0.3 0.3 0.5 0.9 0.7 0.8 0.9 24

25 Nonfinancial corporate business (FCS) 1.0 0.9 0.8 0.6 0.7 0.8 0.9 0.9 1.0 1.1 25

26 Nonfinancial noncorporate business (FCS) 21.0 18.1 17.4 16.9 18.6 19.1 21.8 23.1 24.5 25.2 26

27 U.S.-chartered dep. inst. (FHLB & SLMA) 92.9 113.5 139.3 158.8 148.3 124.4 87.1 86.5 108.4 130.5 27

28 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 28

29 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 29

30 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 30

31 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 31

32 Finance company loans to business 150.2 165.8 200.1 228.7 250.8 268.1 263.8 264.9 249.0 274.9 32

33 Liab.: Nonfinancial corporate business 135.2 149.2 180.0 205.8 225.7 241.3 237.4 238.4 224.1 247.4 33

34 Nonfinancial noncorporate business 15.0 16.6 20.0 22.9 25.1 26.8 26.4 26.5 24.9 27.5 34

35 Loans to nonfinancial corporate business (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

36 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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.
FFA, 1985-1994, December 6, 2012 95

L.217 Total Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total mortgages 2367.9 2654.9 2955.9 3273.4 3526.0 3781.1 3932.3 4043.3 4174.6 4339.0 1

 2 Home 1526.2 1729.4 1927.7 2162.1 2368.9 2606.3 2774.3 2941.7 3100.7 3277.9 2

 3 Multifamily residential 205.9 239.4 258.4 274.5 287.0 287.4 284.1 270.9 267.7 268.2 3

 4 Commercial 541.7 602.0 694.1 765.9 801.3 819.8 806.4 762.7 737.8 722.9 4

 5 Farm 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 5

 6 Total liabilities 2367.9 2654.9 2955.9 3273.4 3526.0 3781.1 3932.3 4043.3 4174.6 4339.0 6

 7 Household sector 1488.1 1691.6 1877.4 2116.9 2329.4 2566.0 2752.7 2932.4 3101.7 3267.5 7

 8 Nonfinancial business 877.1 960.5 1075.4 1153.1 1192.8 1210.8 1174.7 1105.6 1063.9 1052.8 8

 9 Corporate 169.3 185.3 252.7 255.0 263.2 285.9 277.1 237.9 218.3 211.8 9

10 Noncorporate 707.8 775.2 822.7 898.1 929.6 924.9 897.6 867.6 845.5 841.0 10

11 Federal government 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

12 REITs 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 12

13 Total assets 2367.9 2654.9 2955.9 3273.4 3526.0 3781.1 3932.3 4043.3 4174.6 4339.0 13

14 Household sector 115.5 111.9 119.5 121.8 130.7 140.9 142.7 136.8 129.4 120.5 14

15 Nonfinancial corporate business 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 15

16 Nonfinancial noncorporate business 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 16

17 State and local governments 74.2 86.0 94.7 98.6 105.0 110.2 113.7 113.7 108.3 110.5 17

18 Federal government 53.3 54.4 49.1 48.0 47.3 82.9 98.3 86.4 85.0 71.0 18

19 U.S.-chartered depository institutions 1189.1 1278.7 1402.9 1540.0 1609.4 1600.9 1527.2 1470.9 1494.0 1559.9 19

20 Foreign banking offices in U.S. 5.7 8.7 13.9 22.1 30.2 45.5 54.3 51.6 45.1 40.3 20

21 Banks in U.S.-affiliated areas 2.0 2.2 2.3 2.9 3.6 4.5 5.2 6.0 7.2 8.8 21

22 Credit unions 11.1 19.3 29.9 38.1 27.0 32.7 36.9 39.8 41.8 47.0 22

23 Property-casualty insurance companies 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 23

24 Life insurance companies 171.8 193.8 212.4 232.9 254.2 267.9 259.5 242.0 223.9 215.8 24

25 Private pension funds 14.0 11.3 8.2 16.7 23.3 24.9 18.2 14.5 13.0 7.8 25

26 State and local govt. retirement funds 15.3 15.6 15.3 15.6 15.3 16.1 16.9 16.5 14.5 15.2 26

27 Government-sponsored enterprises (1) 159.7 147.8 139.5 144.5 150.5 156.1 167.7 199.7 241.0 244.6 27

28 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 28

29 ABS issuers 24.6 17.9 31.5 40.5 52.6 66.0 113.1 167.9 204.3 224.7 29

30 Finance companies 53.3 70.8 66.1 76.4 102.9 114.1 123.6 126.3 123.1 103.3 30

31 REITs 5.9 5.9 7.0 8.7 8.4 7.7 7.0 8.1 8.6 13.3 31
96 FFA, 1985-1994, December 6, 2012

L.218 Home Mortgages (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1526.2 1729.4 1927.7 2162.1 2368.9 2606.3 2774.3 2941.7 3100.7 3277.9 1

 2 Household sector 1449.6 1648.3 1827.9 2054.2 2259.5 2488.8 2667.0 2840.0 2998.7 3165.3 2

 3 Nonfinancial corporate business 7.3 7.3 8.5 9.6 9.4 10.6 8.0 6.4 6.0 7.3 3

 4 Nonfinancial noncorporate business 69.3 73.8 91.4 98.4 100.0 107.0 99.3 95.3 95.9 105.4 4

 5 Total assets 1526.2 1729.4 1927.7 2162.1 2368.9 2606.3 2774.3 2941.7 3100.7 3277.9 5

 6 Household sector 91.6 91.9 103.3 108.4 117.4 128.6 130.1 122.7 113.7 104.7 6

 7 Nonfinancial corporate business 9.5 13.0 19.8 18.8 27.8 33.4 36.4 36.1 30.9 32.7 7

 8 Nonfinancial noncorporate business 13.9 14.1 11.8 17.6 12.1 9.5 8.9 9.4 8.2 8.9 8

 9 State and local governments 45.0 49.0 50.1 52.6 57.3 60.9 62.9 62.3 56.3 57.3 9

10 Federal government 24.4 24.1 20.8 21.0 21.3 37.9 37.1 36.6 33.0 29.1 10

11 U.S.-chartered depository institutions 772.9 800.6 842.6 965.3 1005.0 1030.9 991.6 968.4 1001.3 1066.4 11

12 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 12

13 Banks in U.S.-affiliated areas 1.3 1.3 1.5 1.7 1.9 2.0 2.0 3.0 4.1 4.8 13

14 Credit unions 11.1 19.3 29.9 38.1 27.0 32.7 36.9 39.8 41.8 47.0 14

15 Life insurance companies 13.6 14.1 14.5 12.5 13.6 15.0 12.1 12.5 9.9 10.0 15

16 Private pension funds 4.5 4.0 1.4 2.8 5.5 5.5 4.0 3.2 3.2 3.7 16

17 State and local govt. retirement funds 3.7 3.2 3.5 3.4 3.4 3.5 3.7 3.4 3.5 3.9 17

18 Government-sponsored enterprises 111.6 105.9 102.8 109.0 114.1 119.5 130.7 161.0 201.1 204.1 18

19 Agency- and GSE-backed mortgage pools 360.5 519.5 652.9 723.6 843.8 991.1 1130.4 1248.2 1334.3 1449.6 19

20 ABS issuers 24.0 16.6 27.8 34.9 43.3 55.0 96.7 142.3 167.9 183.0 20

21 Finance companies 38.2 52.4 44.7 52.0 75.1 80.2 90.5 91.5 89.2 67.7 21

22 REITs 0.3 0.3 0.3 0.4 0.4 0.4 0.4 1.1 2.2 5.1 22

 Memo:

23 Home equity loans included above (2) ND ND ND ND ND 214.7 222.0 217.1 210.4 221.8 23

24 U.S.-chartered depository institutions ND ND ND ND ND 175.3 181.6 176.3 171.1 179.1 24

25 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 25

26 Credit unions ND ND ND ND ND 20.1 21.4 20.5 19.3 20.9 26

27 ABS issuers ND ND ND ND ND 0.1 0.4 0.9 1.5 2.1 27

28 Finance companies 19.7 22.9 27.0 29.3 16.1 19.2 18.7 19.4 18.5 19.7 28

(1) Mortgages on 1-4 family properties including mortages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 205.9 239.4 258.4 274.5 287.0 287.4 284.1 270.9 267.7 268.2 1

 2 Nonfinancial corporate business 10.3 11.9 12.9 13.7 14.3 14.3 14.1 13.5 13.2 13.1 2

 3 Nonfinancial noncorporate business 194.8 226.5 244.4 259.7 271.5 271.7 268.4 255.7 251.5 248.9 3

 4 Federal government 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 0.8 0.9 1.0 1.1 1.2 1.4 1.6 1.8 3.0 6.2 5

 6 Total assets 205.9 239.4 258.4 274.5 287.0 287.4 284.1 270.9 267.7 268.2 6

 7 Household sector 1.4 2.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 1.4 2.4 4.4 1.3 3.4 1.6 0.6 0.4 0.5 0.9 8

 9 Nonfinancial noncorporate business 8.8 9.8 8.8 11.4 8.2 9.0 8.4 8.4 7.3 7.9 9

10 State and local governments 23.4 30.4 37.4 38.5 39.7 40.7 41.7 42.4 42.8 43.5 10

11 Federal government 10.2 11.1 11.5 11.8 12.3 22.9 31.9 27.6 24.6 22.0 11

12 U.S.-chartered depository institutions 112.3 127.2 135.7 140.3 142.2 127.4 115.0 106.0 104.4 102.2 12

13 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 13

14 Life insurance companies 19.9 21.0 22.5 24.6 26.9 29.0 29.3 27.2 27.5 27.8 14

15 Private pension funds 2.4 2.7 1.6 2.7 4.0 1.2 0.9 0.7 0.7 1.0 15

16 State and local govt. retirement funds 6.0 6.0 5.7 5.5 5.2 5.1 4.8 4.2 4.1 4.3 16

17 Government-sponsored enterprises 8.5 8.7 8.4 9.5 12.0 13.2 14.2 15.8 17.5 18.4 17

18 Agency- and GSE-backed mortgage pools 7.0 11.9 16.4 21.6 25.7 28.7 26.1 23.8 22.5 22.4 18

19 ABS issuers 0.0 0.2 0.5 1.0 1.0 0.9 3.8 6.6 8.4 9.8 19

20 Finance companies 2.9 3.8 3.3 3.8 4.0 5.4 5.3 5.7 5.7 5.8 20

21 REITs 1.8 1.8 2.1 2.6 2.5 2.3 2.2 2.2 1.9 2.1 21
FFA, 1985-1994, December 6, 2012 97

L.220 Commercial Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 541.7 602.0 694.1 765.9 801.3 819.8 806.4 762.7 737.8 722.9 1

 2 Household sector 38.6 43.2 49.5 62.7 70.0 77.2 85.8 92.3 103.0 102.2 2

 3 Nonfinancial corporate business 144.7 159.7 225.6 226.3 234.2 255.7 249.5 212.5 193.3 185.2 3

 4 Nonfinancial noncorporate business 356.6 397.1 416.9 474.6 494.6 483.9 467.9 454.3 435.4 423.0 4

 5 REITs 1.7 1.9 2.1 2.3 2.5 2.9 3.2 3.6 6.0 12.5 5

 6 Total assets 541.7 602.0 694.1 765.9 801.3 819.8 806.4 762.7 737.8 722.9 6

 7 Household sector 2.1 1.0 2.9 2.6 3.5 2.8 2.8 3.7 4.6 4.5 7

 8 Nonfinancial corporate business 46.1 34.7 27.2 48.0 23.3 17.7 21.9 23.5 20.8 22.8 8

 9 Nonfinancial noncorporate business 20.7 20.2 16.6 18.2 14.2 11.9 8.2 6.9 6.0 6.5 9

10 State and local governments 4.4 5.1 5.7 6.0 6.4 7.1 7.7 7.5 7.7 8.3 10

11 Federal government 8.3 8.4 6.6 5.3 4.4 13.4 21.2 14.6 20.5 13.2 11

12 U.S.-chartered depository institutions 293.1 339.0 411.3 420.6 447.3 427.4 404.6 379.3 370.4 372.0 12

13 Foreign banking offices in U.S. 5.7 8.7 13.9 22.1 30.2 45.5 54.3 51.6 45.1 40.3 13

14 Banks in U.S.-affiliated areas 0.8 0.8 0.9 1.2 1.8 2.5 3.2 3.0 3.1 4.0 14

15 Property-casualty insurance companies 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 15

16 Life insurance companies 127.7 149.1 166.7 187.5 205.5 215.1 209.5 194.4 178.4 169.8 16

17 Private pension funds 7.2 4.6 5.2 11.1 13.8 18.2 13.3 10.6 9.1 3.1 17

18 State and local govt. retirement funds 5.6 6.3 6.2 6.7 6.6 7.5 8.3 8.9 7.0 7.0 18

19 Agency- and GSE-backed mortgage pools 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 ABS issuers 0.6 1.1 3.1 4.6 8.4 10.1 12.6 19.1 28.1 31.8 20

21 Finance companies 12.2 14.5 18.1 20.6 23.9 28.5 27.9 29.1 28.2 29.8 21

22 REITs 3.8 3.9 4.5 5.6 5.4 5.0 4.5 4.8 4.5 6.1 22

L.221 Farm Mortgages (1)

Billions of dollars

 1 Total liabilities 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 1

 2 Nonfinancial corporate business 7.0 6.3 5.8 5.4 5.3 5.3 5.4 5.6 5.8 6.2 2

 3 Nonfinancial noncorporate business 87.1 77.8 70.1 65.4 63.5 62.3 62.0 62.3 62.7 63.7 3

 4 Total assets 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 4

 5 Household sector 20.3 16.5 13.3 10.8 9.8 9.4 9.8 10.4 11.1 11.4 5

 6 Nonfinancial noncorporate business 0.6 0.6 0.7 0.7 0.7 0.6 0.5 0.5 0.4 0.5 6

 7 State and local governments 1.4 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.4 7

 8 Federal government 10.4 10.7 10.2 9.8 9.3 8.6 8.2 7.5 7.0 6.7 8

 9 U.S.-chartered depository institutions 10.8 11.8 13.2 13.8 14.8 15.2 16.1 17.2 17.9 19.3 9

10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Life insurance companies 10.6 9.7 8.6 8.2 8.2 8.8 8.6 7.9 8.1 8.1 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 12

13 Government-sponsored enterprises 39.6 33.1 28.2 25.9 24.3 23.5 22.8 22.9 22.4 22.1 13

14 Agency- and GSE-backed mortgage pools 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.4 14

(1) Excludes mortgages on farm houses.
98 FFA, 1985-1994, December 6, 2012

L.222 Consumer Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities (Households) 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 1

 2 Total assets 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 2

 3 Nonfinancial corporate business 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal government (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.9 5

 6 U.S.-chartered depository institutions 354.8 383.1 399.4 427.6 445.8 431.6 412.3 400.3 433.6 497.2 6

 7 Credit unions 74.0 77.1 81.0 88.3 91.7 91.6 90.3 91.7 101.6 119.6 7

 8 Government-sponsored enterprises 6.8 8.2 10.0 13.2 16.0 19.2 21.1 24.2 26.8 30.4 8

 9 ABS issuers 0.0 0.0 0.0 0.0 47.3 76.7 103.0 120.3 130.5 146.1 9

10 Finance companies 132.4 151.0 154.1 155.3 144.6 138.1 125.9 122.6 116.1 134.4 10

(1) Includes loans originated by the Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that

 the government purchased from depository institutions and finance companies.

L.223 Trade Credit

Billions of dollars

 1 Total trade payables 752.4 760.8 834.3 934.2 997.2 1038.8 1084.7 1143.8 1212.5 1321.0 1

 2 Household sector 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 2

 3 Nonfinancial corporate business 480.4 478.4 522.8 577.0 598.5 626.9 650.1 683.5 720.0 797.4 3

 4 Nonfinancial noncorporate business 66.6 51.4 56.5 63.9 66.5 66.4 67.8 74.1 75.5 83.0 4

 5 State and local governments 97.4 107.2 117.4 128.3 140.1 153.0 166.6 181.0 196.0 212.0 5

 6 Federal government 58.2 72.8 80.3 88.2 96.8 91.1 85.5 82.7 85.7 85.5 6

 7 Rest of the world 17.5 16.8 19.3 27.0 29.8 28.6 31.6 33.0 37.1 40.8 7

 8 Brokers and dealers 8.0 7.6 6.8 8.5 8.0 6.1 6.8 7.4 10.1 9.1 8

 9 Total trade receivables 942.6 961.5 1044.0 1162.1 1225.0 1274.6 1269.7 1306.6 1364.1 1464.6 9

10 Nonfinancial corporate business 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 10

11 Nonfinancial noncorporate business 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 11

12 State and local governments 41.3 42.2 46.0 50.8 54.2 56.7 59.1 62.2 65.8 71.2 12

13 Federal government 35.0 32.6 40.6 40.7 43.9 42.1 37.5 30.8 28.4 24.7 13

14 Rest of the world 33.6 35.0 35.1 37.2 39.8 46.1 44.4 46.0 47.0 48.6 14

15 Property-casualty insurance companies 27.2 32.1 35.7 42.5 45.3 47.2 49.1 49.0 50.7 52.9 15

16 ABS issuers 2.4 3.3 5.1 6.8 8.7 17.4 21.5 25.8 28.4 35.2 16

17 Discrepancy -190.2 -200.7 -209.7 -227.9 -227.8 -235.9 -185.0 -162.9 -151.6 -143.6 17

L.224 Security Credit

Billions of dollars

 1 Total liabilities 131.2 141.1 115.3 118.3 133.9 137.4 188.9 217.7 279.0 279.0 1

 2 Household sector 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers 80.5 83.6 73.5 74.8 91.4 98.6 133.8 164.2 202.9 203.9 4

 5 Customer credit balances (HH) 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 5

 6 From U.S.-chartered depository institutions 38.5 32.5 29.4 29.0 33.2 27.8 30.0 57.3 61.4 56.8 6

 7 From foreign banking offices in U.S. 7.0 7.1 5.0 4.9 5.0 8.4 16.8 30.7 39.3 38.1 7

 8 Total assets 131.2 141.1 115.3 118.3 133.9 137.4 188.9 217.7 279.0 279.0 8

 9 Household sector 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 9

10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 U.S.-chartered depository institutions 38.5 32.5 29.4 29.0 33.2 27.8 30.0 57.3 61.4 56.8 11

12 Foreign banking offices in U.S. 7.0 7.1 5.0 4.9 5.0 8.4 16.8 30.7 39.3 38.1 12

13 Brokers and dealers 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 13
FFA, 1985-1994, December 6, 2012 99

L.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Life insurance reserves:

 1 Total liabilities 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 1

 2 Federal government 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 2

 3 Life insurance companies 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 3

 4 Net change in assets 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 4

 5 Households 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 5

 6 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 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 Pension fund reserves:

 8 Total liabilities 2088.6 2326.8 2504.8 2738.3 3169.0 3310.3 3830.6 4139.4 4617.5 4898.3 8

 9 Life insurance companies 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 9

10 Private pension funds (1) 1250.9 1316.6 1386.0 1432.2 1663.3 1658.5 1959.7 2062.8 2308.3 2473.3 10

11 State and local govt. retirement funds 405.1 480.7 537.2 603.2 706.0 741.7 867.7 957.0 1065.6 1116.8 11

12 Federal government retirement funds (2) 172.1 201.7 233.0 267.5 304.2 340.4 382.1 426.3 468.4 511.5 12

13 Total assets (Households) (3) 2088.6 2326.8 2504.8 2738.3 3169.0 3310.3 3830.6 4139.4 4617.5 4898.3 13

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(3) Excludes all individual retirement accounts (IRAs) (table L.225.i), except those at life insurance companies.

L.226 Taxes Payable by Businesses

Billions of dollars

 1 Total taxes payable by all businesses 69.4 76.3 80.0 80.8 78.7 80.9 73.0 80.2 86.0 86.2 1

 2 Nonfinancial corporate business 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 2

 3 Nonfinancial noncorporate business 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 3

 4 U.S.-chartered depository institutions 4.6 4.9 2.5 2.7 1.4 1.3 -0.1 -0.3 -3.2 -5.2 4

 5 Property-casualty insurance companies 0.9 1.1 1.6 1.9 1.2 1.9 2.6 0.9 3.0 2.6 5

 6 Life insurance companies 2.5 3.1 3.4 3.8 4.8 5.3 6.4 7.8 9.4 10.4 6

 7 Finance companies 0.1 0.2 0.4 0.7 1.0 1.4 1.9 2.6 3.3 4.1 7

 8 Brokers and dealers 0.8 0.9 0.4 0.5 0.6 0.7 0.9 0.9 1.4 1.2 8

 9 Total business taxes receivable 38.1 47.9 49.3 58.1 61.0 59.1 54.8 53.8 55.0 56.1 9

10 State and local governments 26.8 29.5 30.0 33.7 37.1 36.6 38.4 38.3 36.0 37.5 10

11 Federal government 11.3 18.4 19.3 24.5 23.8 22.5 16.4 15.5 18.9 18.6 11

12 Discrepancy 31.3 28.4 30.8 22.6 17.7 21.8 18.1 26.5 31.1 30.1 12

L.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household equity 2498.8 2627.0 2718.5 2862.4 2983.5 3096.8 3051.1 3027.4 3170.9 3385.7 1

 2 Nonfinancial noncorporate business 2494.9 2621.5 2713.3 2856.7 2978.8 3092.9 3046.4 3022.4 3164.8 3380.6 2

 3 Brokers and dealers 3.9 5.5 5.3 5.6 4.7 4.0 4.7 5.1 6.2 5.1 3
100 FFA, 1985-1994, December 6, 2012

L.228 Total Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 3023.4 3163.5 3436.7 3867.5 4249.1 4433.5 4771.4 5203.6 5564.7 5874.3 1

 2 Household sector 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 2

 3 Nonfinancial corporate business 1169.5 1127.7 1160.8 1323.2 1457.6 1497.2 1641.7 1861.7 1952.3 1917.0 3

 4 Nonfinancial noncorporate business 130.8 139.4 127.9 148.7 171.8 163.7 167.4 181.7 187.6 203.3 4

 5 Federal government 172.1 201.7 233.1 270.6 307.1 340.3 378.0 417.7 454.7 492.3 5

 6 Rest of the world 464.4 498.3 541.9 621.8 677.5 736.5 753.0 755.6 854.5 925.9 6

 7 Monetary authority 4.8 3.7 4.7 5.8 5.2 4.2 3.8 3.4 4.3 5.2 7

 8 U.S.-chartered depository institutions 287.4 316.8 324.7 381.2 363.1 383.9 380.1 404.7 426.7 586.7 8

 9 Foreign banking offices in U.S. 34.5 39.3 65.1 79.1 157.1 154.2 175.0 197.1 225.7 257.6 9

10 Banks in U.S.-affiliated areas 10.1 7.3 5.4 5.4 5.7 6.5 4.9 5.5 6.6 8.9 10

11 Credit unions 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 11

12 Property-casualty insurance companies 214.7 258.4 304.3 335.6 369.9 396.9 416.4 439.9 456.1 471.9 12

13 Life insurance companies 241.4 261.2 305.8 314.9 342.8 348.1 388.3 402.5 435.9 474.5 13

14 Government-sponsored enterprises 54.9 63.1 60.7 61.8 68.0 69.2 76.5 89.0 84.0 59.1 14

15 Finance companies 104.7 105.7 135.1 152.1 157.0 161.4 178.1 189.2 196.0 198.3 15

16 REITs 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 16

17 Brokers and dealers 27.0 33.1 39.4 42.0 35.2 37.5 41.5 52.2 86.1 77.2 17

18 Holding companies 3.5 14.4 15.6 16.3 20.6 23.8 18.3 22.0 19.7 22.5 18

19 Funding corporations 84.8 75.8 92.0 85.6 88.4 88.5 125.3 158.9 150.8 145.4 19

20 Total assets 2895.4 3237.4 3669.7 4236.0 4669.8 4849.4 5227.9 5507.7 6052.8 6619.6 20

21 Household sector 146.7 167.4 195.8 216.7 233.9 253.8 264.5 282.8 296.1 310.8 21

22 Nonfinancial corporate business 1312.9 1457.5 1621.9 1882.1 2036.8 2135.1 2215.1 2305.7 2556.5 2715.3 22

23 Nonfinancial noncorporate business 75.2 86.1 88.2 103.3 112.6 109.2 118.6 123.6 139.7 158.9 23

24 State and local governments 7.7 9.4 13.3 7.4 8.8 10.3 13.9 10.6 -23.6 24.9 24

25 Federal government 15.8 16.3 17.4 18.6 34.0 68.1 104.2 119.6 115.7 119.0 25

26 Rest of the world 296.4 324.6 395.5 481.9 567.3 599.1 674.3 662.6 740.6 781.5 26

27 Monetary authority 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 27

28 U.S.-chartered depository institutions 196.6 204.0 214.7 265.8 228.5 197.1 187.2 185.4 180.8 278.7 28

29 Foreign banking offices in U.S. 18.1 24.6 42.3 44.4 110.9 86.8 101.6 143.8 178.5 216.9 29

30 Banks in U.S.-affiliated areas 4.4 2.4 1.8 3.2 4.1 4.2 3.7 3.0 2.6 2.4 30

31 Credit unions 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.2 14.8 31

32 Property-casualty insurance companies 10.0 11.8 15.5 18.9 22.4 24.8 23.7 24.0 28.8 32.2 32

33 Life insurance companies 57.8 64.8 77.8 86.4 95.1 91.0 102.2 99.4 98.3 105.1 33

34 Private pension funds 262.8 295.7 343.0 370.1 381.1 363.4 403.7 403.8 423.8 465.2 34

35 State and local govt. retirement funds 0.5 0.7 0.6 2.1 6.3 7.8 4.6 4.5 4.1 4.6 35

36 Federal government retirement funds 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 36

37 Money market mutual funds 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 37

38 Mutual funds 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 38

39 Government-sponsored enterprises 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 39

40 Finance companies 4.0 6.2 12.4 15.1 18.0 16.1 27.2 20.2 29.1 12.9 40

41 REITs 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 41

42 Brokers and dealers 26.8 34.7 38.2 47.2 66.5 97.0 129.0 180.4 228.6 254.2 42

43 Holding companies 227.4 254.3 265.6 286.7 303.6 307.0 312.9 343.1 388.0 418.6 43

44 Funding corporations 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 44

45 Discrepancy 128.0 -73.9 -233.0 -368.5 -420.7 -416.0 -456.6 -304.2 -488.1 -745.3 45
FFA, 1985-1994, December 6, 2012 101

L.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 407.8 437.5 506.6 535.9 570.7 629.8 657.7 674.4 723.5 786.6 1

 2 Asset: Nonfinancial corporate business 377.1 402.3 462.5 484.7 497.9 556.2 580.3 586.4 607.1 685.6 2

 3 U.S.-chartered depository institutions 14.8 15.0 18.7 20.2 22.6 24.9 25.4 29.9 33.8 35.6 3

 4 Property-casualty insurance companies 10.0 11.8 15.5 18.9 22.4 24.8 23.7 24.0 28.8 32.2 4

 5 Life insurance companies 1.6 1.5 1.9 2.1 2.4 2.7 3.7 4.0 4.9 4.8 5

 6 Finance companies 3.4 5.7 5.2 7.3 23.1 18.7 21.2 24.6 44.6 25.9 6

 7 Brokers and dealers 0.9 1.2 2.8 2.7 2.3 2.5 3.5 5.4 4.3 2.6 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 210.9 254.1 316.7 394.3 454.6 513.3 511.3 523.6 545.3 598.1 8

 9 Nonfinancial noncorporate business 8.0 8.1 3.1 6.5 8.7 3.8 3.9 4.4 5.2 4.8 9

10 Foreign banking offices in U.S. 11.4 12.4 14.4 16.9 18.6 18.4 24.9 21.2 24.0 26.3 10

11 Property-casualty insurance companies 4.5 6.0 10.5 11.7 14.2 17.3 24.7 25.7 26.7 27.9 11

12 Life insurance companies 7.3 9.4 7.2 7.3 8.6 9.9 8.6 9.7 13.1 10.9 12

13 Finance companies 1.4 3.6 3.5 2.7 9.3 4.6 5.6 4.2 10.2 6.0 13

14 Brokers and dealers 3.8 3.6 3.1 4.8 6.3 3.8 5.8 5.3 23.7 14.0 14

15 Funding corporations 0.0 -12.4 -23.9 -42.4 -52.4 -65.7 -51.4 -53.8 -54.9 -70.1 15

16 Asset: Rest of the world 247.2 284.7 334.6 401.8 467.9 505.3 533.4 540.3 593.3 618.0 16

 Federal government equity in IBRD, etc.:

17 Liab.: Rest of the world 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 17

18 Asset: Federal government 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 18

 Federal Reserve Bank stock:

19 Liab.: Monetary authority 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 19

20 Asset: U.S.-chartered depository institutions 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 20

 Equity in government-sponsored enterprises:

21 Liab.: Government-sponsored enterprises 13.1 13.7 15.0 16.9 16.3 13.7 13.0 12.8 14.4 16.3 21

22 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 22

23 Nonfinancial noncorporate (FCS) 4.5 3.9 3.5 3.5 2.8 2.4 2.6 2.5 2.8 3.0 23

24 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 U.S.-chartered depository institutions (FHLB) 8.3 9.5 11.3 13.2 13.4 11.1 10.2 10.1 11.4 12.9 25

26 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 26

27 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 27

 Holding company net transactions with subsidiaries:

28 Liab.: U.S.-chartered depository institutions 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 28

29 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Finance companies 43.9 52.2 46.9 27.3 25.3 21.2 14.8 14.8 21.2 25.2 31

32 Brokers and dealers 27.3 27.3 38.9 59.0 67.0 48.5 41.3 38.7 46.6 47.3 32

33 Rest of the world 16.6 15.3 11.8 10.1 8.3 7.9 10.3 4.5 6.8 14.6 33

34 Asset: Holding companies 223.2 248.3 258.3 280.1 294.8 289.3 295.6 324.0 370.7 398.8 34

 NFC investment in finance company subsidiaries:

35 Liab.: Finance companies 16.7 18.7 12.5 9.5 9.9 15.5 17.6 19.6 14.4 16.6 35

36 Asset: Nonfinancial corporate business 16.7 18.7 12.5 9.5 9.9 15.5 17.6 19.6 14.4 16.6 36

 Funding corporations’ investment in subsidiaries:

37 Liab.: Foreign banking offices in U.S. 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 37

38 Brokers and dealers 16.0 19.4 21.7 28.5 28.3 33.8 44.5 63.7 80.8 96.9 38

39 Asset: Funding corporations 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 39

 Equity investment under Public-Private Inv. Program:

40 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

42 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
102 FFA, 1985-1994, December 6, 2012

L.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 1

 2 Asset: Federal government 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 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 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 23.3 27.0 20.4 19.0 25.9 30.7 31.7 30.8 23.7 16.0 6

 7 Asset: U.S.-chartered depository institutions 23.3 27.0 20.4 19.0 25.9 30.7 31.7 30.8 23.7 16.0 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 8

 9 Asset: Life insurance companies 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 9

 Life insurance company reserves:

10 Liab.: Life insurance companies 56.9 61.0 66.3 72.6 77.9 83.5 89.4 97.8 105.4 113.5 10

11 Accident and health 18.8 21.3 24.0 26.9 29.9 33.4 38.2 45.2 51.4 58.0 11

12 Policy dividend accumulation 26.3 26.9 27.9 29.1 30.7 31.9 31.7 32.3 32.8 32.9 12

13 Contract claims 11.8 12.8 14.5 16.7 17.4 18.1 19.4 20.4 21.3 22.6 13

14 Asset: Household sector 56.9 61.0 66.3 72.6 77.9 83.5 89.4 97.8 105.4 113.5 14

 Policy payables:

15 Liab.: Property-casualty insurance companies 210.2 252.4 293.8 323.9 355.7 379.7 391.7 414.3 429.4 444.0 15

16 Asset: Household sector 89.8 106.4 129.4 144.1 156.0 170.3 175.2 185.0 190.7 197.3 16

17 Nonfinancial corporate business 64.2 83.1 106.6 121.6 136.0 149.3 151.5 165.2 172.1 178.0 17

18 Nonfinancial noncorporate business 56.3 62.9 57.8 58.2 63.8 60.0 65.0 64.1 66.7 68.8 18

 Unallocated insurance company contracts:

19 Liab.: Life insurance companies 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 19

20 Asset: Private pension funds 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 20

 Pension fund contributions payable:

21 Liab.: Nonfinancial corporate business 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 21

22 Asset: Private pension funds 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 22

 Securities borrowed (net):

23 Liab.: Funding corporations 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 23

24 Asset: Brokers and dealers 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 24

 Nonmarketable government securities:

25 Liab.: Federal government 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 25

26 Asset: Federal government retirement funds 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 26

 Retiree health care funds (2):

27 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
FFA, 1985-1994, December 6, 2012 103

L.231 Unidentified Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1423.9 1362.6 1385.3 1602.3 1744.4 1713.5 1844.8 2064.9 2138.7 2191.9 1

 2 Nonfinancial corporate business 939.9 854.9 823.8 909.8 976.7 951.6 1086.0 1283.7 1340.4 1240.6 2

 3 Nonfinancial noncorporate business 122.8 131.3 124.9 142.2 163.1 159.8 163.5 177.3 182.4 198.4 3

 4 Federal government 0.0 0.0 1.2 5.8 7.8 7.7 7.0 6.9 6.8 6.8 4

 5 Rest of the world 24.2 29.2 6.1 57.2 78.9 77.9 61.5 51.7 97.8 96.8 5

 6 Monetary authority 3.1 1.9 2.7 3.7 2.9 1.8 1.2 0.4 0.9 1.6 6

 7 U.S.-chartered depository institutions 151.9 163.3 164.0 197.4 168.9 172.2 150.8 138.6 130.6 275.0 7

 8 Foreign banking offices in U.S. 0.4 0.0 16.7 15.3 89.0 88.1 102.9 124.8 157.1 187.3 8

 9 Banks in U.S.-affiliated areas 10.1 7.3 5.4 5.4 5.7 6.5 4.9 5.5 6.6 8.9 9

10 Credit unions 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 10

11 Life insurance companies 45.4 43.9 46.0 48.2 51.6 39.9 45.7 47.4 49.5 52.1 11

12 Government-sponsored enterprises 18.4 22.5 25.3 25.8 25.8 24.9 31.8 45.4 45.9 26.9 12

13 Finance companies 42.8 31.2 72.2 112.7 112.4 120.1 140.1 150.6 150.3 150.5 13

14 REITs 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 14

15 Brokers and dealers -20.2 -17.2 -24.4 -50.3 -66.5 -48.6 -50.0 -55.4 -65.1 -81.0 15

16 Holding companies 3.5 14.4 15.6 16.3 20.6 23.8 18.3 22.0 19.7 22.5 16

17 Funding corporations 78.0 76.2 100.8 104.8 101.5 82.7 73.7 59.1 8.6 -6.2 17

18 Total assets 1295.9 1436.5 1618.3 1970.8 2165.1 2129.5 2301.3 2369.1 2626.8 2937.1 18

19 Nonfinancial corporate business 854.7 953.1 1040.0 1266.1 1392.9 1414.0 1465.5 1534.4 1762.7 1834.9 19

20 Nonfinancial noncorporate business 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 20

21 State and local governments 7.7 9.4 13.3 7.4 8.8 10.3 13.9 10.6 -23.6 24.9 21

22 Federal government 0.0 0.0 0.0 0.0 14.3 47.1 80.7 94.6 89.3 91.1 22

23 Rest of the world 49.2 39.9 61.0 80.2 99.4 93.8 140.9 122.3 147.3 163.6 23

24 Monetary authority 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 24

25 U.S.-chartered depository institutions 148.4 150.7 162.4 211.2 164.4 128.0 117.3 111.6 108.4 210.5 25

26 Foreign banking offices in U.S. 18.1 24.6 42.3 44.4 110.9 86.8 101.6 143.8 178.5 216.9 26

27 Banks in U.S.-affiliated areas 4.4 2.4 1.8 3.2 4.1 4.2 3.7 3.0 2.6 2.4 27

28 Credit unions 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.1 14.7 28

29 Life insurance companies 41.0 49.5 60.8 68.7 76.4 71.8 82.8 79.6 77.2 83.5 29

30 Private pension funds 112.3 130.1 136.5 164.2 150.1 116.3 114.8 101.9 89.3 89.0 30

31 State and local govt. retirement funds 0.5 0.7 0.6 2.1 6.3 7.8 4.6 4.5 4.1 4.6 31

32 Mutual funds 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 32

33 Money market mutual funds 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 33

34 Government-sponsored enterprises 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 34

35 Finance companies 0.6 0.6 7.1 7.8 -5.1 -2.6 6.0 -4.4 -15.5 -13.0 35

36 REITs 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 36

37 Brokers and dealers 19.0 21.5 20.3 21.3 24.9 23.1 22.6 21.5 27.2 30.0 37

38 Holding companies 4.2 6.0 7.3 6.6 8.8 17.7 17.3 19.1 17.3 19.8 38

39 Discrepancy 128.0 -73.9 -233.0 -368.5 -420.7 -416.0 -456.6 -304.2 -488.1 -745.3 39
104 FFA, 1985-1994, December 6, 2012

B.100 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 16763.1 18533.1 19796.7 21650.5 23676.4 24423.5 26178.5 27334.8 29073.2 30249.6 1

 2 Nonfinancial assets 6768.1 7403.2 8021.4 8741.6 9439.4 9728.5 9929.5 10250.5 10606.1 11047.5 2

 3 Real estate 5339.9 5825.8 6309.3 6876.7 7443.2 7612.1 7729.2 7968.5 8212.5 8529.0 3

 4 Households (2,3) 4698.8 5147.6 5597.5 6118.2 6641.1 6806.7 6969.3 7257.6 7498.5 7770.8 4

 5 Nonprofit organizations 641.1 678.2 711.8 758.5 802.0 805.4 759.9 710.9 714.1 758.3 5

 Equipment and software owned by

 6 nonprofit organizations (4) 51.2 55.1 59.5 64.6 70.6 77.3 82.9 88.6 91.4 94.3 6

 7 Consumer durable goods (4) 1377.0 1522.3 1652.7 1800.3 1925.7 2039.1 2117.4 2193.3 2302.2 2424.1 7

 8 Financial assets 9994.9 11129.9 11775.2 12908.9 14236.9 14695.0 16249.0 17084.3 18467.2 19202.2 8

 9 Deposits 2550.9 2808.3 2943.9 3136.9 3292.1 3365.7 3368.0 3330.6 3265.0 3209.7 9

10 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 10

11 Checkable deposits and currency 344.8 461.9 460.8 460.5 462.2 450.8 505.0 616.4 667.5 636.3 11

12 Time and savings deposits 2001.9 2102.5 2217.4 2392.7 2466.9 2512.1 2440.8 2333.0 2218.3 2181.4 12

13 Money market fund shares 196.3 235.1 256.0 273.0 351.1 389.4 407.7 365.5 363.5 373.1 13

14 Credit market instruments 967.4 1001.0 1176.4 1381.8 1479.6 1741.2 1824.9 1886.5 1995.5 2377.7 14

15 Open market paper 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 15

16 Treasury securities 282.2 270.9 308.2 393.5 394.9 504.0 535.5 627.3 673.2 871.0 16

17 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 17

18 Other Treasury 202.5 177.6 207.1 283.9 277.2 377.8 397.4 470.1 501.3 691.1 18

19 Agency- and GSE-backed securities 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.6 19

20 Municipal securities 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 640.8 594.1 20

21 Corporate and foreign bonds 94.7 127.8 144.6 135.1 178.1 237.6 270.9 283.2 428.8 534.8 21

22 Other loans and advances (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Mortgages 115.5 111.9 119.5 121.8 130.7 140.9 142.7 136.8 129.4 120.5 23

24 Corporate equities (2) 1229.5 1494.0 1462.6 1757.1 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 24

25 Mutual fund shares (6) 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 25

26 Security credit 35.1 44.0 39.1 40.9 53.2 62.4 87.0 76.2 102.3 109.0 26

27 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 27

28 Pension fund reserves 2088.6 2326.8 2504.8 2738.3 3169.0 3310.3 3830.6 4139.4 4617.5 4898.3 28

29 Equity in noncorporate business (7) 2498.8 2627.0 2718.5 2862.4 2983.5 3096.8 3051.1 3027.4 3170.9 3385.7 29

30 Miscellaneous assets 146.7 167.4 195.8 216.7 233.9 253.8 264.5 282.8 296.1 310.8 30

31 Liabilities 2367.9 2632.1 2840.7 3140.2 3425.5 3693.6 3905.5 4113.0 4383.9 4712.1 31

32 Credit market instruments 2277.7 2534.2 2752.5 3039.8 3309.2 3571.6 3758.5 3961.7 4203.5 4527.0 32

33 Home mortgages (8) 1449.6 1648.3 1827.9 2054.2 2259.5 2488.8 2667.0 2840.0 2998.7 3165.3 33

34 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 34

35 Municipal securities (9) 81.3 78.4 78.1 79.6 82.7 85.7 89.5 91.9 93.0 96.1 35

36 Depository institution loans n.e.c. 25.4 22.9 24.1 22.5 13.4 13.9 11.6 17.4 26.0 34.6 36

37 Other loans and advances 72.2 75.0 74.3 75.7 74.3 81.7 89.1 95.3 96.6 107.7 37

38 Commercial mortgages (9) 38.6 43.2 49.5 62.7 70.0 77.2 85.8 92.3 103.0 102.2 38

39 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 39

40 Trade payables (9) 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 40

 Deferred and unpaid

41 life insurance premiums 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 41

42 Net worth 14395.2 15900.9 16956.0 18510.3 20250.9 20729.9 22273.0 23221.8 24689.3 25537.5 42

 Memo:

 Replacement-cost value of structures:

43 Residential 3348.3 3627.1 3886.2 4158.1 4423.6 4617.5 4736.1 5025.9 5377.7 5808.4 43

44 Households 3261.6 3534.2 3789.2 4057.3 4320.0 4511.5 4630.4 4917.5 5267.1 5694.3 44

45 Nonprofit organizations 86.7 92.9 97.0 100.8 103.6 106.0 105.8 108.4 110.6 114.1 45

46 Nonresidential (nonprofits) 361.6 383.5 407.1 430.9 456.2 478.8 490.8 512.7 541.4 575.8 46

47 Disposable personal income (SAAR) 3079.3 3258.8 3435.3 3726.3 3991.4 4254.0 4444.9 4736.7 4921.6 5184.3 47

 Household net worth as percentage of

48 disposable personal income (SAAR) 467.5 487.9 493.6 496.7 507.4 487.3 501.1 490.2 501.7 492.6 48

 Owners’ equity in household real

49 estate (10) 3249.3 3499.2 3769.7 4064.0 4381.7 4318.0 4302.3 4417.6 4499.7 4605.5 49

 Owners’ equity as percentage of

50 household real estate (11) 69.2 68.0 67.3 66.4 66.0 63.4 61.7 60.9 60.0 59.3 50

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

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

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

(7) Net worth of nonfinancial noncorporate business (table B.103, line 32) and owners’ equity in unincorporated security brokers and dealers.

(8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 23.

(9) Liabilities of nonprofit organizations.

(10) Line 4 less line 33.

(11) Line 49 divided by line 4.
FFA, 1985-1994, December 6, 2012 105

B.102 Balance Sheet of Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 7511.4 7833.9 8328.9 9053.9 9566.7 9793.7 9731.0 9711.1 10164.9 10798.5 1

 2 Nonfinancial assets 5037.9 5191.4 5455.5 5801.2 6085.5 6204.4 6016.2 5833.4 5938.9 6302.6 2

 3 Real estate (1) 2872.8 2956.8 3096.0 3297.0 3446.5 3432.4 3204.1 2945.9 2931.1 3102.9 3

 4 Equipment and software (2) 1444.5 1519.6 1587.9 1671.0 1762.3 1862.1 1917.2 1977.1 2064.9 2183.6 4

 5 Inventories (2) 720.6 714.9 771.5 833.3 876.8 909.8 894.9 910.4 942.9 1016.2 5

 6 Financial assets 2473.5 2642.5 2873.4 3252.8 3481.2 3589.3 3714.9 3877.7 4226.0 4495.9 6

 7 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 7

 8 Checkable deposits and currency 126.5 128.1 137.7 151.6 160.7 166.9 173.8 169.6 190.2 202.1 8

 9 Time and savings deposits 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 9

10 Money market fund shares 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 10

11 Security RPs 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 11

12 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 12

13 Treasury securities 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 13

14 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 14

15 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 15

16 Mortgages 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 16

17 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 17

18 Trade receivables 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 18

19 Mutual fund shares (1) 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 19

20 Miscellaneous assets 1312.9 1457.5 1621.9 1882.1 2036.8 2135.1 2215.1 2305.7 2556.5 2715.3 20

21 Liabilities 3321.0 3509.5 3784.5 4201.8 4542.8 4739.8 4840.4 5120.5 5400.0 5639.7 21

22 Credit market instruments 1632.1 1860.6 2053.0 2257.3 2448.4 2577.4 2519.7 2540.0 2686.9 2885.0 22

23 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 23

24 Municipal securities (3) 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 24

25 Corporate bonds (4) 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 25

26 Depository institution loans n.e.c. 447.0 514.5 517.8 559.2 598.8 588.2 537.6 510.4 503.2 551.7 26

27 Other loans and advances 238.2 275.5 308.4 353.8 402.7 463.1 405.6 411.8 384.8 422.0 27

28 Mortgages 169.3 185.3 252.7 255.0 263.2 285.9 277.1 237.9 218.3 211.8 28

29 Trade payables 480.4 478.4 522.8 577.0 598.5 626.9 650.1 683.5 720.0 797.4 29

30 Taxes payable 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 30

31 Miscellaneous liabilities 1169.5 1127.7 1160.8 1323.2 1457.6 1497.2 1641.7 1861.7 1952.3 1917.0 31

32 Net worth (market value) 4190.4 4324.4 4544.4 4852.1 5023.9 5053.9 4890.6 4590.6 4764.9 5158.7 32

 Memo:

 Replacement-cost value of structures:

33 Residential 53.8 57.7 60.0 62.0 63.0 64.2 65.4 67.8 69.6 72.6 33

34 Nonresidential 2001.6 2050.2 2144.9 2278.3 2399.8 2519.7 2552.5 2635.8 2760.3 2896.3 34

35 Market value of equities outstanding 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 35

36 Debt/net worth (percent) (5) 38.9 43.0 45.2 46.5 48.7 51.0 51.5 55.3 56.4 55.9 36

37 Debt/equities (percent) (6) 85.1 83.0 89.8 88.2 78.0 87.2 63.0 58.2 55.5 60.1 37

38 Equities/net worth (percent) (7) 45.7 51.8 50.3 52.7 62.5 58.5 81.8 95.0 101.6 93.0 38

 With nonfinancial assets stated at historical cost:

39 Assets (8) 5461.8 5770.5 6192.1 6772.3 7185.7 7567.8 7828.3 8165.1 8725.1 9248.6 39

40 Nonfinancial assets 2988.3 3128.0 3318.7 3519.5 3704.5 3978.5 4113.5 4287.5 4499.1 4752.8 40

41 Real estate 1167.0 1239.2 1309.3 1389.6 1469.1 1653.8 1730.6 1793.3 1866.5 1941.5 41

42 Equipment and software 1096.6 1167.3 1226.8 1294.9 1371.6 1449.4 1516.1 1591.6 1692.0 1815.3 42

43 Inventories 724.8 721.5 782.6 834.9 863.9 875.4 866.8 902.5 940.6 996.0 43

44 Net worth (historical cost) (9) 2140.8 2261.0 2407.6 2570.5 2642.9 2828.0 2987.9 3044.6 3325.1 3608.9 44

 Memo:

 Historical-cost value of structures:

45 Residential 19.6 21.0 22.2 23.3 24.3 25.3 26.2 27.1 28.0 29.4 45

46 Nonresidential 1029.7 1094.3 1154.7 1216.5 1282.7 1367.5 1437.8 1496.9 1560.0 1624.2 46

47 Debt/net worth (percent) (10) 76.2 82.3 85.3 87.8 92.6 91.1 84.3 83.4 80.8 79.9 47

 (1) At market value.

 (2) At replacement (current) cost.

 (3) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

 (4) Through 1992, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

 (5) Line 22 divided by line 32.

 (6) Line 22 divided by line 35.

 (7) Line 35 divided by line 32.

 (8) Sum of lines 6 and 40.

 (9) Line 39 less line 21.

 (10) Line 22 divided by line 44.
106 FFA, 1985-1994, December 6, 2012

B.103 Balance Sheet of Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 3646.9 3835.8 3979.8 4238.1 4438.7 4545.5 4476.0 4446.8 4574.1 4828.9 1

 2 Nonfinancial assets 3345.9 3499.5 3649.0 3856.3 4048.8 4154.0 4076.5 4020.6 4120.4 4312.7 2

 3 Real estate (1) 2905.4 3053.7 3211.8 3397.2 3570.6 3662.0 3594.9 3529.1 3623.0 3795.5 3

 4 Residential 1679.6 1816.7 1904.9 2004.4 2092.9 2099.8 2102.3 2103.4 2176.4 2281.1 4

 5 Nonresidential 1225.9 1236.9 1307.0 1392.8 1477.6 1562.2 1492.6 1425.7 1446.6 1514.3 5

 6 Equipment and software (2) 304.5 321.4 307.7 323.6 338.8 347.2 348.5 350.0 357.5 370.5 6

 7 Residential (3) 20.7 22.3 23.9 25.6 26.9 27.9 28.2 28.9 30.1 31.2 7

 8 Nonresidential 283.8 299.0 283.8 298.0 311.9 319.3 320.2 321.1 327.4 339.3 8

 9 Inventories (2) 135.9 124.5 129.5 135.5 139.5 144.8 133.1 141.5 139.9 146.7 9

10 Financial assets 301.1 336.3 330.9 381.8 389.8 391.5 399.5 426.2 453.8 516.2 10

11 Checkable deposits and currency 71.8 74.4 75.2 79.8 81.0 83.2 85.3 90.7 93.9 106.3 11

12 Time and savings deposits 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 12

13 Money market fund shares 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 13

14 Credit market instruments 49.7 55.4 47.7 58.2 47.1 43.6 38.3 38.1 36.9 43.7 14

15 Treasury securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 15

16 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 16

17 Mortgages 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 17

18 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Trade receivables 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 19

20 Miscellaneous assets 75.2 86.1 88.2 103.3 112.6 109.2 118.6 123.6 139.7 158.9 20

21 Insurance receivables 56.3 62.9 57.8 58.2 63.8 60.0 65.0 64.1 66.7 68.8 21

22 Equity investment in GSEs (4) 4.5 3.9 3.5 3.5 2.8 2.4 2.6 2.5 2.8 3.0 22

23 Other 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 23

24 Liabilities 1152.0 1214.3 1266.5 1381.4 1459.9 1452.6 1429.6 1424.4 1409.4 1448.3 24

25 Credit market instruments 933.0 1000.2 1058.2 1142.0 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 25

26 Depository institution loans n.e.c. 131.4 132.0 140.7 150.0 162.7 166.7 166.7 169.5 173.9 189.2 26

27 Other loans and advances 93.8 93.0 94.8 93.8 97.9 99.0 97.6 98.4 95.5 99.2 27

28 Mortgages 707.8 775.2 822.7 898.1 929.6 924.9 897.6 867.6 845.5 841.0 28

29 Trade payables 66.6 51.4 56.5 63.9 66.5 66.4 67.8 74.1 75.5 83.0 29

30 Taxes payable 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 30

31 Miscellaneous liabilities 130.8 139.4 127.9 148.7 171.8 163.7 167.4 181.7 187.6 203.3 31

32 Net worth (5) 2494.9 2621.5 2713.3 2856.7 2978.8 3092.9 3046.4 3022.4 3164.8 3380.6 32

 Memo:

 Replacement-cost value of structures:

33 Residential 1137.5 1218.0 1273.5 1323.9 1362.4 1393.7 1409.8 1459.3 1508.8 1570.1 33

34 Nonresidential 529.2 562.7 600.7 645.3 685.4 714.0 715.5 726.9 751.9 783.9 34

35 Debt/net worth (percent) (6) 37.4 38.2 39.0 40.0 40.0 38.5 38.1 37.6 35.2 33.4 35

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 24. Included in table B.100, line 29.

(6) Line 25 divided by line 32.
FFA, 1985-1994, December 6, 2012 107

R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 1505.6 1505.7 1055.1 1554.4 1740.5 479.0 1543.1 948.8 1467.5 848.2 1

 2 Net investment 397.5 528.9 429.2 449.0 345.7 521.4 391.9 431.5 505.1 473.3 2

 3 Net physical investment 199.2 237.3 242.7 252.3 240.4 205.0 152.0 197.0 231.7 279.3 3

 4 Capital expenditures 525.5 594.5 631.5 669.9 689.5 682.9 654.1 716.3 779.7 857.9 4

 5 - Consumption of fixed capital 326.3 357.3 388.8 417.6 449.0 477.9 502.1 519.2 548.0 578.6 5

 6 Net lending (+) or net borrowing (-) 198.3 291.6 186.4 196.7 105.3 316.4 239.9 234.4 273.3 194.0 6

 7 Net acquisition of financial assets 534.2 557.4 440.3 471.7 398.1 555.4 448.2 441.9 541.9 522.9 7

 8 - Net increase in liabilities 335.9 265.8 253.9 275.0 292.8 238.9 208.3 207.5 268.6 328.9 8

 Holding gains on assets

 9 at market value (2) 1105.4 950.4 569.9 1047.3 1361.8 -79.3 1114.4 491.7 904.3 293.9 9

10 Real estate 502.7 356.8 342.9 423.5 430.7 49.9 10.9 114.1 91.7 139.7 10

11 Corporate equities 350.9 387.1 112.3 416.8 500.4 -135.3 851.8 307.8 461.5 2.5 11

12 Mutual fund shares 16.6 25.6 -13.2 16.3 46.6 -33.1 30.9 21.1 71.1 -4.6 12

13 Equity in noncorporate business 87.8 130.7 117.6 174.5 153.9 89.5 -76.8 -57.9 93.0 166.1 13

14 Life insurance and pension fund reserves 147.5 50.2 10.2 16.2 230.2 -50.4 297.8 106.7 187.1 -9.8 14

15 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 Holding gains on assets

16 at current cost (2) 14.9 38.3 31.0 45.0 30.4 37.3 39.2 20.2 35.3 28.6 16

17 Consumer durable goods 14.2 36.6 29.5 43.6 29.0 35.5 38.9 19.6 35.1 28.3 17

18 Equipment and software 0.7 1.7 1.6 1.4 1.3 1.8 0.3 0.7 0.3 0.3 18

19 Other volume changes (3) -12.2 -11.8 25.0 13.1 2.6 -0.3 -2.5 5.5 22.9 52.3 19

 Memo:

20 Net worth outstanding (4) 14395.2 15900.9 16956.0 18510.3 20250.9 20729.9 22273.0 23221.8 24689.3 25537.5 20

21 Disposable personal income 3079.3 3258.8 3435.3 3726.3 3991.4 4254.0 4444.9 4736.7 4921.6 5184.3 21

(1) Sum of net investment (line 2), holding gains (lines 9 and 16), and other volume changes (line 19).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.100, line 42.
108 FFA, 1985-1994, December 6, 2012

R.102 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 103.2 134.0 220.0 307.7 171.8 30.0 -163.3 -300.1 174.4 393.8 1

 2 Net investment -118.9 -50.0 -1.4 -95.7 -156.4 5.2 107.0 107.4 268.2 179.0 2

 3 Net physical investment 129.9 92.1 118.4 126.7 133.8 127.4 73.2 96.2 132.7 192.9 3

 4 Capital expenditures 373.9 357.0 372.0 391.6 421.1 435.3 413.9 437.0 486.5 559.3 4

 5 - Consumption of fixed capital 243.9 257.9 269.9 287.1 303.7 320.8 335.8 343.7 357.8 378.8 5

 6 - Inventory valuation adjustment 0.0 7.1 -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 6

 7 Net lending (+) or net borrowing (-) -164.4 -57.1 -44.3 -92.9 -166.0 -59.2 15.6 -15.8 114.1 30.9 7

 8 Net acquisition of financial assets 213.0 131.5 228.8 350.4 181.3 124.6 83.0 145.6 332.6 273.6 8

 9 - Net increase in liabilities 377.4 188.6 273.1 443.3 347.3 183.8 67.4 161.4 218.5 242.6 9

10 Net corporate equity issues -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 10

 Holding gains on assets

11 at market value (2) 48.6 39.8 93.9 148.7 102.8 -82.8 -270.9 -286.8 -51.1 136.0 11

12 Real estate 48.6 38.7 94.1 148.2 100.3 -81.8 -273.6 -288.0 -52.9 136.8 12

13 Mutual fund shares -0.1 1.1 -0.2 0.5 2.5 -1.0 2.7 1.3 1.8 -0.8 13

 Holding gains on assets less

14 liabilities at current cost (2) 26.3 25.0 70.2 62.9 39.9 89.6 1.4 -17.8 -15.5 30.1 14

15 Equipment and software 28.9 36.3 40.9 48.7 49.8 58.1 25.4 19.1 19.7 26.3 15

16 Inventories (3) -3.7 -6.1 9.0 11.6 0.9 8.4 -10.7 2.6 3.3 10.6 16

17 Direct investment abroad 3.0 6.2 30.5 10.3 -12.9 22.6 -14.0 -33.9 -37.2 -0.1 17

18 - Foreign direct investment in U.S. 1.8 11.3 10.2 7.8 -2.1 -0.5 -0.7 5.6 1.3 6.7 18

19 Other volume changes (4) 147.2 119.2 57.3 191.8 185.4 18.0 -0.8 -102.9 -27.2 48.7 19

 Memo:

20 Net worth outstanding (5) 4190.4 4324.4 4544.4 4852.1 5023.9 5053.9 4890.6 4590.6 4764.9 5158.7 20

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 19).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.102, line 32.
FFA, 1985-1994, December 6, 2012 109

R.103 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 72.9 126.5 91.8 143.5 122.0 114.1 -46.5 -24.0 142.4 215.8 1

 2 Net capital transfers paid 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 2

 3 Net investment -14.2 -3.7 -25.3 -30.7 -30.7 24.6 30.8 36.0 50.0 53.8 3

 4 Net physical investment 54.3 46.6 38.0 30.6 39.1 21.1 -0.4 3.8 6.6 30.8 4

 5 Capital expenditures 131.9 129.1 118.9 116.2 129.3 114.4 94.7 99.3 104.3 131.7 5

 6 - Consumption of fixed capital 77.6 82.6 81.0 85.7 90.2 93.4 95.1 95.5 97.7 100.9 6

 7 Net lending (+) or net borrowing (-) -54.3 -46.6 -38.0 -30.6 -38.7 -21.1 0.5 -2.0 -6.3 -26.6 7

 8 Net acquisition of financial assets 33.9 26.1 -5.4 50.9 8.0 1.8 8.0 26.7 27.6 62.4 8

 9 - Net increase in liabilities 88.2 72.6 32.5 81.5 46.8 22.9 7.5 28.6 33.9 89.1 9

10 Proprietor’s net investment (2) -14.2 -3.7 -25.3 -30.7 -31.1 24.6 30.6 34.2 49.7 49.7 10

11 Holding gains on real estate (3) 88.3 106.5 121.0 150.1 140.0 71.7 -77.1 -71.2 81.9 163.7 11

12 Residential 117.0 116.4 69.6 86.4 75.7 -4.9 -1.3 -0.4 65.7 102.0 12

13 Nonresidential -28.7 -9.9 51.4 63.8 64.2 76.6 -75.7 -70.8 16.2 61.7 13

14 Holding gains on assets at current cost (3) -0.6 0.6 -9.5 26.6 15.2 12.4 0.3 15.6 12.2 5.6 14

15 Residential equipment and software -0.2 0.3 0.2 0.4 0.2 0.1 -0.3 0.0 0.5 0.5 15

16 Nonresidential equipment and software 6.7 10.7 -18.9 10.8 12.4 9.9 11.2 13.4 9.0 11.8 16

17 Inventories -7.2 -10.5 9.2 15.5 2.6 2.5 -10.6 2.1 2.7 -6.7 17

18 Other volume changes (4) -0.6 23.1 5.6 -2.5 -2.1 5.5 -0.3 -2.6 -1.4 -3.1 18

 Memo:

19 Net worth outstanding (5) 2494.9 2621.5 2713.3 2856.7 2978.8 3092.9 3046.4 3022.4 3164.8 3380.6 19

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 18).

(2) Shown on table F.103, line 30.

(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 32.
110 FFA, 1985-1994, December 6, 2012

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 16763.1 18533.1 19796.7 21650.5 23676.4 24423.5 26178.5 27334.8 29073.2 30249.6 1

 2 Nonfinancial assets 6768.1 7403.2 8021.4 8741.6 9439.4 9728.5 9929.5 10250.5 10606.1 11047.5 2

 3 Financial assets 9994.9 11129.9 11775.2 12908.9 14236.9 14695.0 16249.0 17084.3 18467.2 19202.2 3

 4 Deposits 2550.9 2808.3 2943.9 3136.9 3292.1 3365.7 3368.0 3330.6 3265.0 3209.7 4

 5 Credit market instruments 967.4 1001.0 1176.4 1381.8 1479.6 1741.2 1824.9 1886.5 1995.5 2377.7 5

 6 Equity shares at market value 2005.8 2355.9 2380.9 2706.9 3355.4 3125.5 4353.2 4903.3 5710.0 5716.2 6

 7 Directly held 1229.5 1494.0 1462.6 1757.1 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 7

 8 Indirectly held 776.3 861.8 918.3 949.7 1208.0 1164.2 1594.0 1809.1 2273.0 2422.0 8

 9 Life insurance companies 33.3 38.3 44.0 45.7 59.3 57.8 93.8 113.3 163.5 199.6 9

10 Private pension funds 520.9 528.1 540.2 524.0 649.5 622.3 839.9 931.3 1102.6 1146.3 10

11 Defined benefit plans 338.6 350.1 325.3 303.1 361.8 344.0 463.2 490.8 565.5 578.6 11

12 Defined contribution plans 182.2 178.0 214.9 220.9 287.7 278.3 376.8 440.5 537.1 567.7 12

13 State and local govt. retirement funds 123.2 152.3 173.5 215.4 281.1 287.5 400.2 438.9 517.5 543.2 13

14 Federal government retirement funds 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 14

15 Mutual funds 98.9 143.2 160.6 164.6 218.0 196.1 259.0 323.2 484.9 526.7 15

16 Other 4471.0 4964.8 5274.1 5683.4 6109.8 6462.5 6702.9 6963.9 7496.6 7898.6 16

17 Liabilities 2367.9 2632.1 2840.7 3140.2 3425.5 3693.6 3905.5 4113.0 4383.9 4712.1 17

18 Net worth 14395.2 15900.9 16956.0 18510.3 20250.9 20729.9 22273.0 23221.8 24689.3 25537.5 18

 Memo:

19 Equity shares excluding defined benefit plans 1543.9 1853.5 1882.0 2188.4 2712.5 2493.9 3489.8 3973.6 4626.9 4594.3 19

 (line 6 minus lines 11, 13 and part of line 14)

 Equity shares (line 6) as a percent of

20 Total assets (line 1) 12.0 12.7 12.0 12.5 14.2 12.8 16.6 17.9 19.6 18.9 20

21 Financial assets (line 3) 20.1 21.2 20.2 21.0 23.6 21.3 26.8 28.7 30.9 29.8 21

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

 Prior to 1985, all pension assets are assumed to have been in defined benefit plans.
FFA, 1985-1994, December 6, 2012 111

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 1214.6 1290.1 1403.2 1502.4 1627.2 1709.3 1759.7 1845.1 1948.2 2091.9 1

 2 Personal current taxes 417.3 437.2 489.1 504.9 566.1 592.7 586.6 610.5 646.5 690.5 2

 3 Taxes on production and imports 308.1 323.4 347.5 374.5 398.9 425.0 457.1 483.4 503.1 545.2 3

 4 Taxes on corporate income 96.5 106.5 127.1 137.2 141.5 140.6 133.6 143.1 165.4 186.7 4

 5 Taxes from the rest of the world 1.9 1.7 2.0 2.4 2.7 3.0 2.6 2.6 2.7 3.1 5

 6 Contributions for govt. social insurance 282.8 304.9 324.6 363.2 386.9 412.1 432.2 457.1 479.6 510.7 6

 7 Income receipts on assets 84.0 89.7 85.6 89.9 93.7 98.0 97.0 89.6 86.8 86.0 7

 8 Current transfer receipts 23.4 25.9 27.0 27.9 32.5 36.3 44.9 50.5 55.3 60.0 8

 9 Current surplus of government enterprises 0.6 0.9 0.2 2.6 4.9 1.6 5.7 8.2 8.7 9.6 9

10 Current expenditures, NIPA basis 1370.9 1464.0 1540.5 1623.6 1741.0 1879.5 1984.0 2149.0 2229.4 2304.0 10

11 Consumption expenditures 720.1 776.1 815.1 852.8 902.9 966.0 1015.8 1050.4 1075.4 1108.9 11

12 Government social benefits 406.7 432.4 451.7 480.4 524.6 578.9 654.5 735.7 782.9 820.0 12

13 Other current transfer payments 13.8 14.2 12.7 13.2 13.5 13.5 -25.6 20.6 21.7 19.9 13

14 Interest payments 208.8 216.3 230.8 247.7 272.5 294.2 311.7 312.3 312.7 322.7 14

15 Subsidies 21.4 24.9 30.3 29.5 27.4 27.0 27.5 30.1 36.7 32.5 15

16 - Wage accruals less disbursements -0.2 0.0 0.0 0.0 0.0 0.1 -0.1 0.0 0.0 0.0 16

17 Net saving, NIPA basis -156.3 -173.9 -137.4 -121.2 -113.8 -170.3 -224.2 -303.9 -281.2 -212.2 17

18 + Consumption of fixed capital 92.7 99.4 106.6 113.9 121.8 130.8 138.9 144.5 151.6 158.2 18

19 - Insurance and pension fund reserves (1) 2.2 3.0 1.8 2.1 2.1 1.8 2.4 2.4 1.7 1.6 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 1.4 1.5 1.5 1.7 1.7 2.0 2.1 2.1 2.2 2.5 20

21 - Net capital transfers (2) -8.8 -9.9 -10.4 -11.0 -12.1 -8.4 -10.3 -15.6 -16.8 -19.0 21

22 = Gross saving less net capital transfers -58.5 -69.0 -23.7 -0.1 16.3 -34.8 -79.5 -148.4 -116.7 -39.0 22

23 Gross investment -78.7 -83.7 -19.7 -39.3 11.4 15.9 -85.3 -158.3 -140.9 28.2 23

24 Fixed investment 158.8 173.2 184.3 186.1 197.7 215.7 220.3 223.1 219.4 220.9 24

25 Nonproduced nonfinancial assets 1.9 0.7 3.8 4.2 4.2 5.0 6.0 6.1 6.1 6.4 25

26 Net lending (+) or net borrowing (-) -239.4 -257.6 -207.7 -229.7 -190.5 -204.9 -311.6 -387.6 -366.4 -199.1 26

27 Net acquisition of financial assets 110.4 33.0 27.3 35.5 75.0 73.7 94.5 1.3 -23.6 47.8 27

28 U.S. official reserve assets 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 28

29 Checkable deposits and currency 14.1 2.9 -8.8 12.0 -13.8 3.6 33.9 -15.7 22.7 -19.9 29

30 Time and savings deposits 7.1 2.5 7.3 -2.2 -2.9 -2.9 -10.9 -6.8 -1.6 6.4 30

31 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 31

32 Security RPs 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 32

33 Credit market instruments 53.5 21.4 10.4 22.1 37.8 30.6 32.4 7.3 -21.9 16.7 33

34 Open market paper 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 34

35 Agency- and GSE-backed securities (3) 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 35

36 Municipal securities 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 36

37 Corporate and foreign bonds 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 37

38 Mortgages 11.6 12.3 3.4 2.9 5.6 40.8 18.9 -12.0 -20.8 -11.8 38

39 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.5 39

40 Other loans and advances (4) 7.7 7.7 -0.2 -5.1 -2.1 -2.8 -5.3 0.1 -9.8 1.5 40

41 Corporate equities 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 41

42 Mutual fund shares 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 42

43 Trade receivables 7.5 -1.4 11.7 4.8 6.7 0.7 -2.2 -3.6 1.2 1.7 43

44 Taxes receivable -2.0 1.0 -5.7 -3.2 -0.8 -5.8 -5.2 -0.5 -5.3 -4.8 44

45 Miscellaneous assets 7.4 2.2 5.2 0.6 16.7 35.8 39.7 12.1 -38.1 51.8 45

46 Net increase in liabilities 349.8 290.6 235.0 265.2 265.5 278.6 406.1 388.9 342.8 246.9 46

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

48 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 48

49 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 49

50 Credit market instruments 288.4 231.7 194.8 202.2 189.1 251.6 344.1 338.0 285.2 187.7 50

51 Savings bonds 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 51

52 Treasury bills and other Treasury securities (4) 127.8 145.0 92.7 122.6 131.7 188.8 255.1 302.0 204.1 225.5 52

53 Budget agency securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 53

54 Municipal securities 155.4 72.8 92.8 53.7 47.6 46.2 90.8 16.6 58.7 -45.9 54

55 Multifamily residential mortgages -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 55

56 Trade payables 19.4 24.4 17.7 18.9 20.4 7.1 8.1 11.6 18.0 15.8 56

57 Insurance reserves 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 57

58 Miscellaneous liabilities (5) 40.5 32.7 20.9 42.4 50.7 16.3 52.7 39.7 37.8 41.5 58

59 Discrepancy 20.2 14.7 -4.0 39.2 5.0 -50.7 5.8 10.0 24.2 -67.2 59

 Memo:

60 Net govt. saving less fixed investment (6) -315.1 -347.1 -321.7 -307.3 -311.5 -386.0 -444.5 -527.0 -500.6 -433.1 60

61 Adjustment between NIPA and FOF (7) 75.6 89.5 113.9 77.7 121.0 181.1 132.9 139.4 134.2 234.0 61

62 Items to be financed (8) -239.4 -257.6 -207.7 -229.7 -190.5 -204.9 -311.6 -387.6 -366.4 -199.1 62

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

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

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

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

(4) Excludes transactions with state and local governments.

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

 retirement fund, and foreign service retirement and disability fund.

(6) Line 17 less line 24.

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

(8) Line 60 plus line 61.
112 FFA, 1985-1994, December 6, 2012

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 774.4 816.3 846.1 889.5 963.2 1042.0 1138.1 1139.3 1138.5 1193.0 1

 2 U.S. official reserve assets 25.1 28.0 29.1 27.7 32.3 39.7 39.1 38.8 40.2 41.4 2

 3 Checkable deposits and currency 48.8 50.1 38.0 57.0 50.8 49.4 81.3 63.4 85.7 63.2 3

 4 Time and savings deposits 67.1 69.7 77.0 74.8 71.8 68.9 58.0 51.2 49.6 56.0 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 5

 6 Security RPs 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 6

 7 Credit market instruments 421.3 440.8 444.0 462.7 495.6 526.2 556.0 563.3 555.5 572.4 7

 8 Open market paper 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 8

 9 Agency- and GSE-backed securities (1) 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 9

10 Municipal securities 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 10

11 Corporate and foreign bonds 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 11

12 Mortgages 127.5 140.4 143.8 146.7 152.2 193.1 212.0 200.0 193.3 181.5 12

13 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.9 13

14 Other loans and advances (2) 171.1 176.4 168.9 160.3 153.3 150.6 142.7 142.8 133.0 134.6 14

15 Corporate equities 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 15

16 Mutual fund shares 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 16

17 Trade receivables 76.2 74.8 86.6 91.4 98.1 98.8 96.6 93.0 94.2 95.9 17

18 Taxes receivable 38.1 47.9 49.3 58.1 61.0 59.1 54.8 53.8 55.0 56.1 18

19 Miscellaneous assets 23.5 25.7 30.6 26.1 42.8 78.4 118.2 130.2 92.1 143.9 19

20 Total liabilities 2351.2 2640.3 2886.8 3159.3 3410.4 3706.5 4097.6 4486.3 4828.3 5071.8 20

21 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 21

22 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 22

23 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 23

24 Credit market instruments 1982.3 2215.0 2409.8 2624.6 2813.7 3065.3 3409.4 3747.4 4032.6 4220.3 24

25 Savings bonds 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 25

26 Treasury bills and other Treasury securities (3) 1248.1 1393.2 1485.9 1608.5 1740.2 1929.0 2184.1 2486.1 2690.2 2915.6 26

27 Budget agency securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 27

28 Municipal securities 651.1 724.9 817.7 884.0 931.6 977.8 1068.6 1085.2 1143.9 1097.9 28

29 Multifamily residential mortgages 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Trade payables 155.6 180.0 197.6 216.5 236.9 244.0 252.2 263.7 281.7 297.5 30

31 Insurance reserves 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 31

32 Miscellaneous liabilities (4) 172.1 201.7 233.1 270.6 307.1 340.3 378.0 417.7 454.7 492.3 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.
FFA, 1985-1994, December 6, 2012 113

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 50.8 0.0 -6.0 22.3 23.9 -3.2 27.5 -25.4 44.2 71.3 1

 2 Checkable deposits and currency -0.0 -0.6 -0.2 1.9 -1.0 -0.5 -0.1 0.0 -0.0 0.8 2

 3 Time and savings deposits 4.9 8.7 1.1 -3.5 9.6 -5.5 5.5 -9.1 6.4 13.1 3

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

 5 Security RPs 3.0 1.1 -0.1 1.6 0.3 -1.7 1.8 -1.1 -0.0 -4.2 5

 6 Credit market instruments 18.6 -6.6 2.5 28.3 41.6 32.0 12.8 17.1 22.9 35.6 6

 7 Open market paper 2.6 3.6 5.1 -3.9 -2.5 -1.7 1.8 -1.1 -0.0 -4.2 7

 8 Treasury securities 15.1 -7.2 -5.7 1.7 7.9 0.6 -8.9 -11.0 -5.6 10.1 8

 9 Agency- and GSE-backed securities 17.5 -4.3 7.6 13.5 21.8 20.5 12.8 11.5 15.9 30.7 9

10 Corporate and foreign bonds -21.0 2.5 -1.3 11.2 8.8 11.2 13.8 20.8 14.0 2.7 10

11 Mortgages 4.3 -1.2 -3.3 5.9 5.6 1.5 -6.8 -3.1 -1.4 -3.7 11

12 Corporate equities 7.5 -9.5 -7.7 -0.4 -22.4 0.2 2.0 -19.0 10.4 -3.8 12

13 Mutual fund shares 2.0 0.9 0.9 -0.6 0.0 0.4 1.4 2.8 4.6 16.2 13

14 Miscellaneous assets 14.8 6.0 -2.4 -5.1 -4.2 -28.0 4.1 -16.1 -0.2 13.6 14

15 Unallocated insurance contracts (1) 0.0 3.4 4.9 -15.2 -1.9 -6.2 -2.2 -15.0 -8.1 8.4 15

16 Contributions receivable 5.8 -0.1 -1.5 -0.3 4.4 2.8 8.2 5.6 7.4 6.2 16

17 Other 9.0 2.7 -5.8 10.4 -6.8 -24.6 -1.9 -6.7 0.6 -1.0 17

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

F.116.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 32.9 25.8 41.8 45.1 36.5 29.4 63.2 37.7 59.9 69.2 1

 2 Checkable deposits and currency -0.0 -0.8 -0.0 0.9 0.6 -0.3 -0.3 -0.1 0.2 0.1 2

 3 Time and savings deposits 3.7 1.8 -11.9 14.4 17.9 1.3 0.1 -8.0 -9.9 -6.3 3

 4 Money market fund shares 2.1 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 4

 5 Security RPs 5.3 0.6 -0.3 0.6 1.8 0.4 1.9 1.3 0.9 -2.0 5

 6 Credit market instruments 4.5 11.2 11.1 -6.4 10.1 11.5 12.6 8.8 13.3 4.1 6

 7 Open market paper -0.2 0.7 2.1 -2.2 1.8 1.3 1.4 0.9 0.7 -2.0 7

 8 Treasury securities 5.0 -8.5 5.9 -2.0 1.8 -0.6 3.6 2.6 1.2 6.7 8

 9 Agency- and GSE-backed securities 4.9 -3.7 5.5 0.9 2.0 2.1 0.0 -0.9 -1.8 10.2 9

10 Corporate and foreign bonds -5.2 24.2 -2.6 -5.7 3.4 8.6 7.4 6.9 13.2 -9.3 10

11 Mortgages 0.0 -1.6 0.3 2.6 1.0 0.1 0.1 -0.6 -0.2 -1.4 11

12 Corporate equities 3.9 -3.4 7.8 7.2 -11.5 0.4 10.8 21.7 25.9 0.7 12

13 Mutual fund shares 0.0 0.9 1.3 0.1 5.1 6.2 9.8 19.4 29.9 39.0 13

14 Miscellaneous assets 13.5 13.7 31.9 26.2 9.7 9.9 27.3 -6.4 -6.9 28.2 14

15 Unallocated insurance contracts (2) 0.0 10.6 28.6 17.0 14.2 15.9 23.0 -4.6 1.3 22.1 15

16 Contributions receivable 0.0 0.1 3.0 -0.9 2.8 3.2 3.9 4.4 4.9 5.5 16

17 Other 13.5 3.0 0.2 10.1 -7.3 -9.2 0.4 -6.2 -13.2 0.6 17

(1) Includes 401(k) type plans.

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

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

Billions of dollars

 1 Total held at: 72.8 81.7 73.2 55.3 56.9 96.4 95.6 82.9 86.7 85.6 1

 2 U.S.-chartered depository institutions 32.2 25.9 20.0 23.1 22.9 19.0 12.8 -8.8 -12.0 -7.4 2

 3 Credit unions 4.2 5.9 2.9 1.5 1.9 3.2 3.6 0.9 -0.3 -0.0 3

 4 Life insurance companies 7.8 5.6 7.9 8.0 -1.3 4.4 7.1 4.9 12.6 13.2 4

 5 Money market mutual funds 1.4 2.0 5.0 5.0 9.0 12.9 -0.1 3.0 5.0 13.7 5

 6 Mutual funds 11.1 19.0 15.9 8.0 10.2 10.3 41.1 38.9 59.5 11.7 6

 7 Other self-directed accounts 16.1 23.3 21.6 9.6 14.3 46.6 31.1 43.9 21.9 54.4 7

(1) Assets of the household sector (F.100). IRA assets are not included in pension fund reserves (table F.225), except for those at life insurance companies. Figures for depositories (lines 2 through 4)

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7) and from the money market fund sector (line 6).
114 FFA, 1985-1994, December 6, 2012

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 795.1 816.0 803.3 812.8 921.5 899.9 1051.7 1079.9 1195.1 1276.0 1

 2 Checkable deposits and currency 1.4 0.8 0.6 2.5 1.6 1.0 1.0 1.0 1.0 1.8 2

 3 Time and savings deposits 41.0 49.6 50.7 47.3 56.9 51.3 56.8 47.6 54.1 67.1 3

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

 5 Security RPs 13.9 15.0 14.9 16.5 16.8 15.0 16.9 15.8 15.8 11.6 5

 6 Credit market instruments 252.1 245.6 248.0 276.4 318.0 349.9 362.7 379.8 402.7 438.3 6

 7 Open market paper 14.4 18.0 23.1 19.2 16.8 15.0 16.9 15.8 15.8 11.6 7

 8 Treasury securities 96.4 89.2 83.5 85.1 93.0 93.6 84.7 73.7 68.1 78.2 8

 9 Agency- and GSE-backed securities 52.3 48.0 55.7 69.2 91.0 111.5 124.3 135.8 151.7 182.4 9

10 Corporate and foreign bonds 77.8 80.3 79.0 90.2 99.0 110.1 123.9 144.7 158.7 161.4 10

11 Mortgages 11.2 10.1 6.8 12.6 18.2 19.7 13.0 9.9 8.5 4.7 11

12 Corporate equities 335.9 348.2 322.3 300.6 358.9 341.4 458.6 484.5 555.6 559.9 12

13 Mutual fund shares 5.9 4.8 7.9 6.5 6.8 6.8 11.4 15.6 22.3 39.0 13

14 Miscellaneous assets 144.9 152.0 158.8 163.0 162.7 134.3 144.3 135.5 143.5 158.2 14

15 Unallocated insurance contracts (1) 81.8 85.6 91.8 78.2 80.1 73.6 77.3 69.6 69.7 79.2 15

16 Contributions receivable 11.6 11.5 10.0 9.7 14.1 16.9 25.1 30.7 38.0 44.2 16

17 Other 51.5 54.9 57.1 75.2 68.4 43.8 41.9 35.2 35.8 34.8 17

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

L.116.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 431.7 469.7 550.7 594.4 710.3 729.3 879.4 958.5 1090.3 1160.2 1

 2 Checkable deposits and currency 1.9 1.1 1.1 2.0 2.6 2.3 2.0 2.0 2.2 2.3 2

 3 Time and savings deposits 35.6 37.4 25.5 39.9 57.8 59.1 59.2 51.1 41.3 35.0 3

 4 Money market fund shares 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 4

 5 Security RPs 5.3 5.9 5.6 6.2 8.1 8.5 10.4 11.6 12.6 10.6 5

 6 Credit market instruments 76.9 88.1 99.2 92.8 102.9 114.4 127.0 135.9 149.1 153.2 6

 7 Open market paper 7.7 8.4 10.5 8.3 10.1 11.4 12.8 13.7 14.4 12.4 7

 8 Treasury securities 32.1 23.6 29.5 27.6 29.4 28.8 32.4 35.0 36.3 43.0 8

 9 Agency- and GSE-backed securities 14.8 11.1 16.6 17.5 19.5 21.6 21.7 20.7 18.9 29.1 9

10 Corporate and foreign bonds 19.5 43.7 41.1 35.4 38.8 47.4 54.8 61.8 75.0 65.7 10

11 Mortgages 2.8 1.2 1.4 4.0 5.1 5.2 5.3 4.7 4.5 3.1 11

12 Corporate equities 179.8 175.3 210.3 214.6 276.6 264.5 347.6 389.2 458.7 453.8 12

13 Mutual fund shares 5.2 7.3 11.9 16.9 26.2 33.7 55.0 80.6 119.9 166.9 13

14 Miscellaneous assets 117.9 143.8 184.2 207.1 218.4 229.1 259.4 268.4 280.3 307.0 14

15 Unallocated insurance contracts (2) 49.9 61.3 94.5 108.7 124.6 141.2 167.2 178.0 198.2 218.7 15

16 Contributions receivable 7.1 7.2 10.2 9.3 12.2 15.4 19.3 23.7 28.6 34.1 16

17 Other 60.9 75.2 79.4 89.0 81.7 72.5 72.9 66.7 53.6 54.2 17

(1) Includes 401(k) type plans.

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

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

Billions of dollars

 1 Total held at: 241.0 329.0 404.0 468.0 546.0 637.0 776.0 873.0 993.0 1056.0 1

 2 U.S.-chartered depository institutions 127.9 153.8 173.9 197.0 219.9 238.9 251.7 242.9 230.9 223.5 2

 3 Credit unions 12.1 18.1 21.0 22.4 24.3 27.5 31.1 32.1 31.8 31.8 3

 4 Life insurance companies 17.0 22.7 30.1 38.9 37.9 42.0 49.7 55.6 69.5 78.7 4

 5 Money market mutual funds 7.0 9.0 13.9 18.9 27.8 40.7 40.6 43.6 48.6 62.3 5

 6 Mutual funds 25.9 47.7 62.5 73.4 93.1 97.9 143.3 188.3 265.2 277.1 6

 7 Other self-directed accounts 51.2 77.8 102.6 117.4 143.1 189.9 259.6 310.5 347.0 382.6 7

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

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

 sector (line 6).