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

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

September 18, 2014 

Z.1 

Financial Accounts 

of the United States 

Flow of Funds, Balance Sheets, 

and Integrated Macroeconomic Accounts

Historical Annual Tables 

2005–2013

 

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

Summaries 

Total Credit Market Borrowing and Lending F.1 1 

Credit Market Borrowing by Nonfinancial Sectors F.2 2 

Credit Market Borrowing by Financial Sectors F.3 2 

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

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

Credit Market Debt Outstanding L.1 4 

Credit Market Debt Owed by Nonfinancial Sectors L.2 5 

Credit Market Debt Owed by Financial Sectors L.3 5 

Credit Market Debt, All Sectors, by Instrument L.4 6 

Total Liabilities and Its Relation to Total Financial Assets L.5 6 

Distribution of Gross Domestic Product F.6 7 

Distribution of National Income F.7 8 

Saving and Investment F.8 9 

Net Capital Transfers F.9 10 

Derivation of Measures of Personal Saving F.10 11 

Assets and Liabilities of the Personal Sector L.10 12 

Title 

Flows Levels 

Table Page Table Page 

Sectors

Households and Nonprofit Organizations F.100 13 L.100 63 

Nonfinancial Business F.101 14 L.101 64 

Nonfinancial Corporate Business F.102 15 L.102 65 

Nonfinancial Noncorporate Business F.103 16 L.103 66 

State and Local Governments F.104 17 L.104 67 

Federal Government F.105 18 L.105 68 

Rest of the World F.106 19 L.106 69 

Financial Business F.107 20 L.107 70 

Monetary Authority F.108 21 L.108 71 

Private Depository Institutions F.109 22 L.109 72 

U.S.-Chartered Depository Institutions F.110 23 L.110 73 

List of Data Tables 
ii

Sectors

Foreign Banking Offices in U.S. F.111 24 L.111 74 

Banks in U.S.-Affiliated Areas F.112 25 L.112 75 

Credit Unions F.113 25 L.113 75 

Property-Casualty Insurance Companies F.114 26 L.114 76 

Life Insurance Companies F.115 27 L.115 77 

Private and Public Pension Funds F.116 28 L.116 78 

Private Pension Funds F.117 29 L.117 79 

State and Local Government Employee Retirement 

Funds F.118 30 L.118 80 

Federal Government Employee Retirement Funds F.119 30 L.119 80 

Money Market Mutual Funds F.120 31 L.120 81 

Mutual Funds F.121 31 L.121 81 

Closed-End and Exchange-Traded Funds F.122 31 L.122 81 

Government-Sponsored Enterprises F.123 32 L.123 82 

Agency- and GSE-Backed Mortgage Pools F.124 32 L.124 82 

Issuers of Asset-Backed Securities F.125 33 L.125 83 

Finance Companies F.126 33 L.126 83 

Real Estate Investment Trusts F.127 34 L.127 84 

Security Brokers and Dealers F.128 35 L.128 85 

Holding Companies F.129 36 L.129 86 

Funding Corporations F.130 37 L.130 87 

Instruments 

U.S. Official Reserve Assets and SDR Allocations F.200 38 L.200 88 

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 38 L.201 88 

U.S. Deposits in Foreign Countries F.202 38 L.202 88 

Net Interbank Transactions F.203 39 L.203 89 

Checkable Deposits and Currency F.204 40 L.204 90 

Time and Savings Deposits F.205 41 L.205 91 

Money Market Mutual Fund Shares F.206 41 L.206 91 

Federal Funds and Security Repurchase Agreements F.207 42 L.207 92 

Open Market Paper F.208 43 L.208 93 

Treasury Securities F.209 44 L.209 94 

Agency- and GSE-Backed Securities F.210 45 L.210 95 

Municipal Securities and Loans F.211 46 L.211 96 
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Instruments 

Corporate and Foreign Bonds F.212 47 L.212 97 

Corporate Equities F.213 48 L.213 98 

Mutual Fund Shares F.214 48 L.214 98 

Depository Institution Loans Not Elsewhere Classified F.215 49 L.215 99 

Other Loans and Advances F.216 50 L.216 100 

Total Mortgages F.217 51 L.217 101 

Home Mortgages F.218 52 L.218 102 

Multifamily Residential Mortgages F.219 52 L.219 102 

Commercial Mortgages F.220 53 L.220 103 

Farm Mortgages F.221 53 L.221 103 

Consumer Credit F.222 54 L.222 104 

Trade Credit F.223 55 L.223 105 

Security Credit F.224 55 L.224 105 

Life Insurance Reserves F.225 56 L.225 106 

Pension Entitlements F.226 56 L.226 106 

Taxes Payable by Businesses F.227 56 L.227 106 

Proprietors' Equity in Noncorporate Business F.228 56 L.228 106 

Direct Investment F.229 57 L.229 107 

Total Miscellaneous Financial Claims F.230 58 L.230 108 

Identified Miscellaneous Financial Claims - Part I F.231 59 L.231 109 

Identified Miscellaneous Financial Claims - Part II F.232 60 L.232 110 

Unidentified Miscellaneous Financial Claims F.233 61 L.233 111 

Sector Discrepancies F.11 62 

Instrument Discrepancies F.12 62 

Title 

Balance Sheet Reconciliation 

Table Page Table Page 

Balance Sheet and Changes in Net Worth 

Households and Nonprofit Organizations B.100 112 R.100 115 

Nonfinancial Corporate Business B.102 113 R.102 116 

Nonfarm Noncorporate Business B.103 114 R.103 117 

 
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Title 

Flows Levels 

Table Page Table Page 

Supplementary Tables 

Balance Sheet of Households and Nonprofit 

Organizations with Equity Detail B.100.e 118 

Consolidated Statement for Federal, State, and Local 

Governments F.105.c 119 L.105.c 120 

Life Insurance Companies: General Accounts F.115.g 121 L.115.g 122 

Life Insurance Companies: Separate Accounts F.115.s 121 L.115.s 122 

Private Pension Funds: Defined Benefit Plans F.117.b 123 L.117.b 124 

Private Pension Funds: Defined Contribution Plans F.117.c 123 L.117.c 124 

Individual Retirement Accounts (IRAs) F.226.i 123 L.226.i 124 

State and Local Government Employee Retirement 

Funds: Defined Benefit Plans F.118.b 125 L.118.b 126 

State and Local Government Employee Retirement 

Funds: Defined Contribution Plans F.118.c 125 L.118.c 126 

Federal Government Employee Retirement Funds: 

Defined Benefit Plans F.119.b 127 L.119.b 128 

Federal Government Employee Retirement Funds: 

Defined Contribution Plans F.119.c 127 L.119.c 128 

Equity Real Estate Investment Trusts F.127.e 129 L.127.e 130 

Mortgage Real Estate Investment Trusts F.127.m 129 L.127.m 130 

Title Table Page 

Integrated Macroeconomic Accounts for the United States 

Total Economy-Current Account S.1.a 131 

Selected Aggregates for Total Economy and Sectors S.2.a 132 

Households and Nonprofit Institutions Serving Households S.3.a 134 

Nonfinancial Noncorporate Business S.4.a 137 

Nonfinancial Corporate Business S.5.a 140 

Financial Business S.6.a 143 

Federal Government S.7.a 146 

State and Local Governments S.8.a 149 

Rest of the World S.9.a 152 
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Historical Annuals, 2005-2013, September 18, 2014 1

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

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Credit market borrowing 3451.9 3912.0 4504.3 2770.9 -338.7 655.9 1125.0 1604.8 1953.5 1

 2 Domestic nonfinancial sectors 2234.3 2289.0 2410.4 1990.7 1102.4 1406.7 1292.0 1833.8 1470.9 2

 3 Household sector 1177.0 1201.1 911.9 145.9 1.2 -152.8 -26.4 206.0 204.1 3

 4 Nonfinancial corporate business 266.9 388.2 651.5 262.2 -358.6 -70.9 260.4 405.0 431.6 4

 5 Nonfinancial noncorporate business 341.8 415.4 463.2 325.5 -97.1 -19.4 42.7 87.9 115.0 5

 6 State and local governments 141.7 100.9 146.7 17.9 113.0 69.5 -52.7 -5.3 -38.9 6

 7 Federal government 306.9 183.4 237.1 1239.2 1443.9 1580.2 1067.9 1140.2 759.1 7

 8 Rest of the world 103.9 286.7 260.9 -198.2 222.2 149.0 172.8 188.6 268.8 8

 9 Financial sectors 1113.7 1336.3 1833.0 978.4 -1663.3 -899.8 -339.8 -417.6 213.7 9

 10 U.S.-chartered depository institutions 54.1 43.9 222.5 -0.9 -292.2 -217.6 -50.5 -110.8 -33.5 10

 11 Foreign banking offices in U.S. 0.0 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 11

 12 Credit unions 3.3 4.2 13.4 8.3 -14.1 -0.4 -2.0 0.9 1.9 12

 13 Life insurance companies 0.4 2.7 14.5 26.2 -6.6 -3.2 1.8 4.8 7.8 13

 14 Government-sponsored enterprises -84.0 35.6 279.7 261.3 -518.4 -233.8 -187.2 -154.6 107.5 14

 15 Agency- and GSE-backed mortgage pools 164.5 292.6 626.0 507.4 458.3 186.9 165.3 132.2 132.4 15

 16 ABS issuers 731.6 796.5 369.3 -332.1 -614.0 -411.9 -172.6 -143.4 -234.8 16

 17 Finance companies 33.5 34.8 34.9 -79.4 -156.2 -174.9 -13.5 -56.7 4.2 17

 18 REITs 55.4 15.5 10.2 -53.8 -27.6 0.1 25.6 35.5 178.4 18

 19 Brokers and dealers 0.1 6.4 -4.0 77.7 -49.7 36.9 -37.9 -1.7 22.2 19

 20 Holding companies 50.1 75.0 151.9 97.3 -8.0 -16.5 -16.5 -99.9 0.5 20

 21 Funding corporations 104.7 29.1 114.5 466.4 -434.8 -65.3 -52.4 -23.9 27.0 21

 22 Credit market lending 3451.9 3912.0 4504.3 2770.9 -338.7 655.9 1125.0 1604.8 1953.5 22

 23 Domestic nonfinancial sectors 280.0 12.4 577.5 551.5 352.4 72.2 -260.6 -111.8 -483.1 23

 24 Household sector 59.0 -103.6 480.5 598.1 72.2 -88.9 -225.2 -261.9 -536.4 24

 25 Nonfinancial corporate business 42.4 -16.1 -75.8 -34.6 10.1 2.6 -7.1 -10.0 -43.3 25

 26 Nonfinancial noncorporate business 11.4 -0.1 10.0 -10.9 -6.7 6.6 1.0 1.3 2.0 26

 27 State and local governments 170.3 126.4 156.0 -94.5 -32.4 67.4 -47.6 53.8 -29.6 27

 28 Federal government -3.1 5.9 6.8 93.4 309.2 84.5 18.3 104.9 124.2 28

 29 Rest of the world 768.5 974.9 958.9 360.0 116.5 619.2 237.4 443.5 551.1 29

 30 Financial sectors 2403.4 2924.6 2967.9 1859.3 -807.6 -35.5 1148.2 1273.2 1885.5 30

 31 Monetary authority 26.4 34.7 -38.3 245.4 1001.6 271.5 376.5 34.5 1086.1 31

 32 U.S.-chartered depository institutions 692.8 658.4 597.5 292.8 -280.4 -120.7 173.7 424.0 253.5 32

 33 Foreign banking offices in U.S. 146.2 105.2 204.7 103.4 -287.5 -24.4 42.5 5.8 -7.2 33

 34 Banks in U.S.-affiliated areas 10.2 -1.7 -6.4 -1.9 -2.8 -19.3 -4.9 -0.1 0.3 34

 35 Credit unions 36.1 30.1 35.3 40.7 34.1 24.9 38.6 47.0 50.2 35

 36 Property-casualty insurance companies 72.8 44.8 5.3 -15.9 33.3 3.9 36.2 1.0 25.3 36

 37 Life insurance companies 116.2 67.5 84.8 11.6 139.8 151.6 125.3 74.3 77.4 37

 38 Private pension funds 44.4 58.1 31.1 -7.0 9.5 120.6 73.6 146.6 49.8 38

 39 State and local govt. retirement funds 39.0 93.7 43.9 -19.8 -83.1 22.4 14.4 8.0 62.9 39

 40 Federal government retirement funds 8.0 8.8 12.6 23.9 7.4 10.9 25.6 15.4 9.4 40

 41 Money market mutual funds 2.3 221.6 391.8 727.9 -619.9 -396.6 -9.8 -82.7 30.9 41

 42 Mutual funds 124.1 184.9 268.0 32.4 387.1 353.6 359.4 642.0 363.9 42

 43 Closed-end funds 2.2 6.1 -0.4 -40.5 10.5 5.2 -1.7 11.2 14.3 43

 44 Exchange-traded funds 6.8 5.7 13.4 23.0 46.0 29.7 46.1 52.3 12.2 44

 45 Government-sponsored enterprises -69.1 46.6 239.0 242.9 -337.8 -288.4 -163.2 -189.4 59.8 45

 46 Agency- and GSE-backed mortgage pools 164.5 292.6 626.0 507.4 458.3 186.9 165.3 132.2 132.4 46

 47 ABS issuers 735.1 788.6 366.4 -315.5 -579.4 -402.2 -168.4 -137.0 -229.4 47

 48 Finance companies 64.7 72.3 26.0 -62.1 -214.9 -102.6 -44.4 -28.6 -19.0 48

 49 REITs 41.3 26.0 -19.8 -68.6 -10.3 44.1 120.2 127.6 39.2 49

 50 Brokers and dealers 82.3 106.2 219.7 -85.7 -192.1 32.2 5.7 89.1 -175.4 50

 51 Holding companies -4.2 3.3 23.2 13.9 -16.0 22.1 3.1 -50.1 56.2 51

 52 Funding corporations 61.3 71.0 -156.0 211.0 -311.1 39.1 -65.6 -50.1 -7.1 52

(1) Excludes corporate equities and mutual fund shares.
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2 Historical Annuals, 2005-2013, September 18, 2014

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Domestic 2234.3 2289.0 2410.4 1990.7 1102.4 1406.7 1292.0 1833.8 1470.9 1

 2 By instrument 2234.3 2289.0 2410.4 1990.7 1102.4 1406.7 1292.0 1833.8 1470.9 2

 3 Commercial paper -7.7 22.4 11.3 7.7 -73.1 24.5 33.4 14.0 14.2 3

 4 Treasury securities 307.3 183.7 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 759.5 4

 5 Agency- and GSE-backed securities -0.4 -0.3 -0.4 0.2 0.1 0.7 1.1 -0.4 -0.4 5

 6 Municipal securities 198.1 170.0 235.5 92.4 155.3 99.7 -52.8 -4.9 -43.2 6

 7 Corporate bonds -41.3 74.7 118.8 116.5 215.8 179.4 161.7 324.4 280.6 7

 8 Depository institution loans n.e.c. 131.1 181.6 228.0 188.4 -307.7 -53.7 70.7 276.9 126.1 8

 9 Other loans and advances 117.2 150.1 305.1 87.3 -164.8 -82.4 63.6 -22.7 62.4 9

 10 Mortgages 1429.6 1386.4 1123.4 224.4 -63.5 -315.7 -161.0 -63.7 97.5 10

 11 Home 1128.5 1079.8 770.6 43.4 23.8 -160.4 -86.5 -71.3 3.9 11

 12 Multifamily residential 62.8 41.4 89.1 44.0 4.6 -5.0 7.2 36.7 34.2 12

 13 Commercial 229.2 261.9 259.1 115.0 -103.2 -158.4 -94.8 -34.9 56.7 13

 14 Farm 9.1 3.3 4.6 22.0 11.3 8.1 13.1 5.8 2.7 14

 15 Consumer credit 100.4 120.5 151.3 34.9 -103.6 -25.3 108.5 169.7 174.3 15

 16 By sector 2234.3 2289.0 2410.4 1990.7 1102.4 1406.7 1292.0 1833.8 1470.9 16

 17 Household sector 1177.0 1201.1 911.9 145.9 1.2 -152.8 -26.4 206.0 204.1 17

 18 Nonfinancial business 608.7 803.6 1114.7 587.7 -455.7 -90.3 303.2 492.9 546.6 18

 19 Corporate 266.9 388.2 651.5 262.2 -358.6 -70.9 260.4 405.0 431.6 19

 20 Noncorporate 341.8 415.4 463.2 325.5 -97.1 -19.4 42.7 87.9 115.0 20

 21 State and local governments 141.7 100.9 146.7 17.9 113.0 69.5 -52.7 -5.3 -38.9 21

 22 Federal government 306.9 183.4 237.1 1239.2 1443.9 1580.2 1067.9 1140.2 759.1 22

 23 Foreign borrowing in U.S. 103.9 286.7 260.9 -198.2 222.2 149.0 172.8 188.6 268.8 23

 24 Commercial paper 38.6 98.4 -69.3 -71.0 59.4 -2.7 -53.5 27.9 34.0 24

 25 Bonds 54.8 178.9 304.1 -140.8 177.2 127.4 181.7 124.7 194.4 25

 26 Depository institution loans n.e.c. 17.3 16.9 29.4 15.1 -14.8 24.0 43.2 30.4 39.1 26

 27 Other loans and advances -6.8 -7.4 -3.3 -1.5 0.5 0.3 1.4 5.6 1.4 27

 28 Domestic and foreign 2338.2 2575.8 2671.3 1792.5 1324.6 1555.7 1464.8 2022.4 1739.8 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars

 1 By instrument 1113.7 1336.3 1833.0 978.4 -1663.3 -899.8 -339.8 -417.6 213.7 1

 2 Open market paper 214.2 196.4 -111.5 -125.4 -448.1 -102.2 -68.2 -58.8 -48.9 2

 3 GSE issues -84.0 35.6 279.7 261.3 -518.4 -233.8 -187.2 -154.6 107.5 3

 4 Agency- and GSE-backed mortgage pool sec. 164.5 292.6 626.0 507.4 458.3 186.9 165.3 132.2 132.4 4

 5 Corporate bonds 745.2 795.3 728.2 -201.4 -448.4 -544.3 -235.8 -223.5 -84.3 5

 6 Depository institution loans n.e.c. 15.5 -11.5 80.1 496.4 -435.9 -62.5 32.6 -121.2 20.9 6

 7 Other loans and advances 44.4 21.2 225.8 33.3 -282.6 -144.7 -60.0 3.5 78.3 7

 8 Mortgages 14.1 6.6 4.7 6.8 11.8 0.8 13.5 4.8 7.8 8

 9 By sector 1113.7 1336.3 1833.0 978.4 -1663.3 -899.8 -339.8 -417.6 213.7 9

 10 U.S.-chartered depository institutions 54.1 43.9 222.5 -0.9 -292.2 -217.6 -50.5 -110.8 -33.5 10

 11 Foreign banking offices in U.S. 0.0 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 11

 12 Credit unions 3.3 4.2 13.4 8.3 -14.1 -0.4 -2.0 0.9 1.9 12

 13 Life insurance companies 0.4 2.7 14.5 26.2 -6.6 -3.2 1.8 4.8 7.8 13

 14 Government-sponsored enterprises -84.0 35.6 279.7 261.3 -518.4 -233.8 -187.2 -154.6 107.5 14

 15 Agency- and GSE-backed mortgage pools 164.5 292.6 626.0 507.4 458.3 186.9 165.3 132.2 132.4 15

 16 ABS issuers 731.6 796.5 369.3 -332.1 -614.0 -411.9 -172.6 -143.4 -234.8 16

 17 Finance companies 33.5 34.8 34.9 -79.4 -156.2 -174.9 -13.5 -56.7 4.2 17

 18 REITs 55.4 15.5 10.2 -53.8 -27.6 0.1 25.6 35.5 178.4 18

 19 Brokers and dealers 0.1 6.4 -4.0 77.7 -49.7 36.9 -37.9 -1.7 22.2 19

 20 Holding companies 50.1 75.0 151.9 97.3 -8.0 -16.5 -16.5 -99.9 0.5 20

 21 Funding corporations 104.7 29.1 114.5 466.4 -434.8 -65.3 -52.4 -23.9 27.0 21
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Historical Annuals, 2005-2013, September 18, 2014 3

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

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total 3451.9 3912.0 4504.3 2770.9 -338.7 655.9 1125.0 1604.8 1953.5 1

 2 Open market paper 245.1 317.2 -169.5 -188.8 -461.8 -80.4 -88.3 -16.9 -0.8 2

 3 Treasury securities 307.3 183.7 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 759.5 3

 4 Agency- and GSE-backed securities 80.0 327.9 905.3 768.9 -59.9 -46.2 -20.8 -22.8 239.5 4

 5 Municipal securities 198.1 170.0 235.5 92.4 155.3 99.7 -52.8 -4.9 -43.2 5

 6 Corporate and foreign bonds 758.7 1048.8 1151.2 -225.8 -55.4 -237.5 107.6 225.6 390.8 6

 7 Depository institution loans n.e.c. 163.9 187.0 337.5 699.9 -758.5 -92.2 146.6 186.1 186.1 7

 8 Other loans and advances 154.7 163.8 527.6 119.1 -446.9 -226.8 4.9 -13.6 142.1 8

 9 Mortgages 1443.8 1392.9 1128.0 231.2 -51.7 -314.8 -147.6 -58.9 105.2 9

 10 Consumer credit 100.4 120.5 151.3 34.9 -103.6 -25.3 108.5 169.7 174.3 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues 225.0 37.2 -24.1 271.1 824.1 385.5 52.7 537.0 704.1 11

 12 Corporate equities -35.1 -299.6 -385.7 281.0 327.1 15.4 -285.7 -87.9 65.4 12

 13 Nonfinancial -300.2 -496.9 -713.0 -319.6 -52.5 -255.1 -456.7 -359.5 -373.3 13

 Foreign shares purchased by

 14 U.S. residents 186.7 137.3 147.8 -38.6 63.7 79.2 7.0 103.3 275.2 14

 15 Financial 78.4 60.0 179.6 639.2 315.9 191.4 164.1 168.3 163.5 15

 16 Mutual fund shares 260.2 336.8 361.5 -9.9 497.1 370.1 338.4 624.9 638.8 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) 3451.9 3912.0 4504.3 2770.9 -338.7 655.9 1125.0 1604.8 1953.5 1

 2 U.S. official reserve assets -14.1 -2.4 0.1 4.8 99.9 1.8 15.9 4.5 -3.1 2

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

 4 Treasury currency 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 0.0 -0.4 4

 5 Foreign deposits 21.9 180.5 294.5 -331.0 -43.9 71.6 -215.0 -144.0 32.7 5

 6 Net interbank transactions -6.2 4.7 -50.1 1751.8 -536.9 -142.8 820.5 -194.5 1111.6 6

 7 Checkable deposits and currency 4.4 -19.9 36.7 568.4 -7.9 266.3 234.5 267.7 332.6 7

 8 Small time and savings deposits 314.4 347.0 316.4 524.8 517.2 298.3 577.4 539.6 307.0 8

 9 Large time deposits 295.4 289.2 292.3 -182.4 -173.6 -182.7 -173.3 -19.2 102.1 9

 10 Money market fund shares 125.1 303.1 736.8 724.2 -498.7 -503.2 -112.8 7.1 28.7 10

 11 Security repurchase agreements 470.8 541.3 426.5 -1393.6 -346.6 421.3 276.2 251.3 -477.1 11

 12 Corporate equities -35.1 -299.6 -385.7 281.0 327.1 15.4 -285.7 -87.9 65.4 12

 13 Mutual fund shares 260.2 336.8 361.5 -9.9 497.1 370.1 338.4 624.9 638.8 13

 14 Trade payables 335.6 186.2 200.1 -164.5 7.8 154.9 81.6 143.3 181.4 14

 15 Security credit -36.1 147.9 253.8 -352.9 -5.4 105.0 -7.4 97.7 104.3 15

 16 Life insurance reserves 15.1 65.6 34.4 65.2 27.4 14.5 81.2 -11.9 30.0 16

 17 Pension entitlements 598.0 602.5 620.9 552.5 397.6 595.8 499.2 497.9 494.9 17

 18 Taxes payable -4.7 22.5 -69.3 -123.8 -3.4 19.4 20.6 11.2 11.4 18

 19 Noncorporate proprietors’ equity -55.4 -8.4 -49.9 -309.8 -111.5 159.8 -61.4 -5.4 -46.8 19

 20 Miscellaneous 1187.0 1424.4 1992.3 916.8 247.3 601.9 1232.5 1152.9 1397.0 20

 21 Total financial sources 7077.9 8522.0 10150.1 5930.9 518.3 3430.0 5102.6 5248.3 6849.9 21

 - Liabilities not identified as assets:

 22 Treasury currency 0.7 -1.1 -1.2 -0.8 -4.4 -1.1 -0.7 -0.6 -1.1 22

 23 Foreign deposits 2.2 198.6 241.4 -273.0 -55.1 49.2 -136.3 -137.7 -12.4 23

 24 Net interbank liabilities 0.9 -0.7 5.2 44.8 14.5 25.8 3.5 5.7 56.8 24

 25 Security repurchase agreements 128.2 294.0 -210.2 -253.1 207.1 55.0 68.7 -9.6 -167.0 25

 26 Taxes payable -45.0 16.9 -36.8 -67.0 -33.5 -8.6 -7.0 -18.7 -19.5 26

 27 Miscellaneous -304.1 -552.0 249.2 936.8 235.3 301.0 614.3 542.8 75.3 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 28

 29 Federal govt. -6.6 -3.0 1.2 -3.3 0.7 0.0 -0.1 0.6 0.4 29

 30 Private domestic 1.7 -0.0 -0.1 -2.0 -1.0 -1.1 0.9 0.9 -1.2 30

 31 Trade credit -46.5 143.7 -45.9 27.4 122.7 -10.2 -31.4 33.8 8.1 31

 Totals identified to sectors

 32 as assets 7346.4 8425.5 9947.5 5521.1 32.1 3020.0 4590.6 4831.1 6910.4 32
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L.1 Credit Market Debt Outstanding (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total credit market debt owed by: 41480.9 45425.3 50095.2 52454.2 52181.2 52322.3 53272.2 55050.6 56685.7 1

 2 Domestic nonfinancial sectors 27171.8 29505.6 31892.9 33745.8 34460.2 35608.6 36750.6 38420.1 39771.1 2

 3 Household sector 11721.3 12946.5 13830.4 13850.0 13558.9 13229.8 13060.9 13063.5 13179.2 3

 4 Nonfinancial corporate business 5260.7 5669.6 6327.6 6584.9 6142.1 6004.4 6264.8 6713.3 7118.0 4

 5 Nonfinancial noncorporate business 2898.0 3313.4 3775.1 4094.0 3985.4 3950.9 3986.1 4069.5 4180.0 5

 6 State and local governments 2589.8 2690.8 2837.5 2855.4 2968.4 3038.0 2985.3 2980.0 2941.1 6

 7 Federal government 4701.9 4885.3 5122.3 6361.5 7805.4 9385.6 10453.6 11593.7 12352.8 7

 8 Rest of the world 1351.1 1658.4 1997.2 1605.0 2006.5 2258.5 2485.5 2828.0 2966.2 8

 9 Financial sectors 12958.0 14261.3 16205.1 17103.4 15714.5 14455.3 14036.1 13802.5 13948.4 9

 10 U.S.-chartered depository institutions 727.8 768.6 991.2 990.3 718.1 882.9 832.4 720.3 686.9 10

 11 Foreign banking offices in U.S. 0.8 0.5 0.5 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit unions 14.7 18.9 32.3 40.6 26.5 26.1 24.2 25.1 27.0 12

 13 Life insurance companies 11.5 14.2 28.7 54.9 48.3 45.1 46.8 51.6 59.4 13

 14 Government-sponsored enterprises 2592.2 2627.8 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 14

 15 Agency- and GSE-backed mortgage pools 3548.5 3841.1 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 15

 16 ABS issuers 3394.6 4162.2 4515.1 4103.3 3291.1 2235.4 1988.9 1769.6 1481.2 16

 17 Finance companies 1108.6 1144.2 1279.6 1200.3 1044.1 1280.7 1261.9 1205.1 1209.3 17

 18 REITs 395.5 411.0 421.2 367.4 339.8 339.9 365.5 401.0 579.4 18

 19 Brokers and dealers 62.4 68.8 64.8 142.6 92.9 129.7 91.8 90.2 112.4 19

 20 Holding companies 481.8 558.7 710.6 807.9 1253.7 1237.2 1220.8 1416.4 1402.7 20

 21 Funding corporations 619.9 645.3 786.4 1252.8 816.8 704.2 651.8 593.5 620.5 21

 22 Total credit market assets held by: 41480.9 45425.3 50095.2 52454.2 52181.2 52322.3 53272.2 55050.6 56685.7 22

 23 Domestic nonfinancial sectors 5538.1 5677.9 6301.9 6722.4 7370.2 7620.3 7044.3 6987.4 6719.3 23

 24 Household sector 3452.8 3460.2 3987.7 4456.6 4827.7 4912.3 4374.0 4169.1 3848.8 24

 25 Nonfinancial corporate business 340.4 323.4 247.5 213.0 223.1 229.4 222.3 212.3 169.0 25

 26 Nonfinancial noncorporate business 96.8 96.7 106.7 95.8 89.1 95.8 96.8 98.1 100.2 26

 27 State and local governments 1376.4 1502.7 1658.3 1562.0 1526.1 1590.4 1540.5 1592.3 1561.5 27

 28 Federal government 271.7 294.8 301.6 395.1 704.3 792.4 810.7 915.6 1039.8 28

 29 Rest of the world 5142.7 6154.2 7270.7 7481.9 7662.4 8413.9 8944.8 9508.7 9732.3 29

 30 Financial sectors 30800.0 33593.3 36522.6 38249.9 37148.6 36288.2 37283.1 38554.4 40234.2 30

 31 Monetary authority 744.2 778.9 740.6 986.0 1987.7 2259.2 2635.6 2670.1 3756.3 31

 32 U.S.-chartered depository institutions 8016.2 8633.9 9209.3 9459.7 9117.4 9356.2 9489.9 9866.3 10101.0 32

 33 Foreign banking offices in U.S. 684.1 789.3 994.0 1097.1 809.7 785.2 827.7 833.5 826.3 33

 34 Banks in U.S.-affiliated areas 101.0 99.3 92.8 90.9 88.1 68.9 64.0 63.9 64.1 34

 35 Credit unions 592.5 622.6 657.9 701.1 734.6 758.6 796.2 842.3 891.8 35

 36 Property-casualty insurance companies 819.3 864.1 869.3 853.4 886.7 890.6 926.8 927.8 953.1 36

 37 Life insurance companies 2753.9 2786.4 2871.2 2882.8 3022.6 3174.2 3299.6 3373.9 3451.3 37

 38 Private pension funds 686.5 741.9 773.0 766.0 775.5 896.1 969.7 1116.4 1166.1 38

 39 State and local govt. retirement funds 738.1 831.8 875.8 855.9 772.9 795.3 809.7 817.7 880.6 39

 40 Federal government retirement funds 78.2 86.9 99.5 123.5 130.9 141.8 167.3 182.7 192.1 40

 41 Money market mutual funds 1348.6 1570.2 1962.0 2689.9 2070.0 1673.4 1663.6 1580.9 1611.8 41

 42 Mutual funds 1743.8 1928.7 2196.7 2229.2 2616.3 2969.9 3329.3 3981.3 4345.2 42

 43 Closed-end funds 165.4 171.5 171.2 130.6 141.1 146.4 144.7 155.9 170.1 43

 44 Exchange-traded funds 15.0 20.7 34.1 57.1 103.0 132.7 178.8 231.1 243.3 44

 45 Government-sponsored enterprises 2543.9 2590.5 2829.5 3037.5 2699.7 6333.1 6133.4 5914.8 5956.4 45

 46 Agency- and GSE-backed mortgage pools 3548.5 3841.1 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 46

 47 ABS issuers 3290.7 4050.4 4400.3 4005.1 3227.5 2183.6 1941.3 1728.4 1445.5 47

 48 Finance companies 1740.6 1809.1 1834.3 1769.4 1549.7 1405.4 1359.6 1324.9 1305.4 48

 49 REITs 240.3 266.4 246.5 177.6 167.2 211.1 331.2 458.5 497.6 49

 50 Brokers and dealers 477.2 583.4 803.1 717.4 525.3 557.5 563.2 652.3 476.9 50

 51 Holding companies 32.2 36.0 59.1 73.0 75.8 97.9 101.1 209.2 151.8 51

 52 Funding corporations 439.8 490.2 337.8 585.3 270.2 311.6 245.8 185.4 177.9 52

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

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Domestic 27171.8 29505.6 31892.9 33745.8 34460.2 35608.6 36750.6 38420.1 39771.1 1

 2 By instrument 27171.8 29505.6 31892.9 33745.8 34460.2 35608.6 36750.6 38420.1 39771.1 2

 3 Commercial paper 90.1 112.5 123.8 131.5 58.4 82.9 116.3 130.3 144.5 3

 4 Treasury securities 4678.0 4861.7 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 12328.3 4

 5 Agency- and GSE-backed securities 23.8 23.5 23.1 23.3 23.5 24.2 25.3 24.9 24.5 5

 6 Municipal securities 3019.3 3189.3 3424.8 3517.2 3672.5 3772.1 3719.4 3714.4 3671.2 6

 7 Corporate bonds 2662.6 2737.3 2856.1 2972.6 3188.4 3367.8 3529.5 3853.9 4134.5 7

 8 Depository institution loans n.e.c. 1244.9 1429.7 1664.2 1852.6 1474.2 1465.6 1541.7 1742.8 1868.8 8

 9 Other loans and advances 1167.7 1314.9 1620.0 1707.3 1458.4 1269.4 1333.0 1372.4 1407.9 9

 10 Mortgages 11964.8 13374.8 14466.0 14552.6 14250.1 13617.6 13301.2 13088.8 13093.4 10

 11 Home 9420.8 10500.6 11239.0 11153.0 10937.8 10445.4 10203.5 9983.6 9894.5 11

 12 Multifamily residential 644.0 685.4 774.5 823.0 827.7 824.1 831.3 868.0 902.1 12

 13 Commercial 1795.2 2080.7 2339.8 2441.8 2338.6 2194.0 2099.2 2064.3 2121.0 13

 14 Farm 104.8 108.0 112.7 134.7 146.0 154.1 167.2 173.0 175.7 14

 15 Consumer credit 2320.6 2461.9 2615.7 2650.6 2552.8 2647.4 2755.9 2923.6 3097.9 15

 16 By sector 27171.8 29505.6 31892.9 33745.8 34460.2 35608.6 36750.6 38420.1 39771.1 16

 17 Household sector 11721.3 12946.5 13830.4 13850.0 13558.9 13229.8 13060.9 13063.5 13179.2 17

 18 Nonfinancial business 8158.8 8983.1 10102.8 10678.9 10127.5 9955.2 10250.9 10782.8 11298.0 18

 19 Corporate 5260.7 5669.6 6327.6 6584.9 6142.1 6004.4 6264.8 6713.3 7118.0 19

 20 Noncorporate 2898.0 3313.4 3775.1 4094.0 3985.4 3950.9 3986.1 4069.5 4180.0 20

 21 State and local governments 2589.8 2690.8 2837.5 2855.4 2968.4 3038.0 2985.3 2980.0 2941.1 21

 22 Federal government 4701.9 4885.3 5122.3 6361.5 7805.4 9385.6 10453.6 11593.7 12352.8 22

 Foreign credit market debt

 23 held in U.S. 1351.1 1658.4 1997.2 1605.0 2006.5 2258.5 2485.5 2828.0 2966.2 23

 24 Commercial paper 384.0 482.3 413.0 342.0 401.3 398.6 345.1 373.0 407.0 24

 25 Bonds 824.8 1024.3 1425.7 1091.2 1447.8 1677.6 1913.6 2186.5 2250.4 25

 26 Depository institution loans n.e.c. 110.4 127.4 137.3 152.4 137.5 162.0 205.2 237.7 276.7 26

 27 Other loans and advances 31.9 24.5 21.2 19.4 19.9 20.2 21.5 30.8 32.2 27

 28 Domestic and foreign 28522.9 31164.1 33890.1 35350.8 36466.7 37867.1 39236.1 41248.0 42737.3 28

L.3 Credit Market Debt Owed by Financial Sectors

Billions of dollars

 1 By instrument 12958.0 14261.3 16205.1 17103.4 15714.5 14455.3 14036.1 13802.5 13948.4 1

 2 Open market paper 1170.2 1363.5 1252.1 1126.3 678.2 576.0 507.9 449.1 400.2 2

 3 GSE issues 2592.2 2627.8 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 3

 4 Agency- and GSE-backed mortgage pool sec. 3548.5 3841.1 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 4

 5 Corporate bonds 4653.8 5422.4 6261.4 5980.2 5735.6 5282.4 4972.6 4870.5 4718.3 5

 6 Depository institution loans n.e.c. 227.7 213.0 293.1 789.5 424.2 373.6 400.8 342.3 363.2 6

 7 Other loans and advances 620.2 641.4 867.1 900.5 617.9 473.2 413.1 416.6 494.9 7

 8 Mortgages 145.5 152.1 156.7 163.5 175.3 176.1 189.5 194.4 202.2 8

 9 By sector 12958.0 14261.3 16205.1 17103.4 15714.5 14455.3 14036.1 13802.5 13948.4 9

 10 U.S.-chartered depository institutions 727.8 768.6 991.2 990.3 718.1 882.9 832.4 720.3 686.9 10

 11 Foreign banking offices in U.S. 0.8 0.5 0.5 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit unions 14.7 18.9 32.3 40.6 26.5 26.1 24.2 25.1 27.0 12

 13 Life insurance companies 11.5 14.2 28.7 54.9 48.3 45.1 46.8 51.6 59.4 13

 14 Government-sponsored enterprises 2592.2 2627.8 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 14

 15 Agency- and GSE-backed mortgage pools 3548.5 3841.1 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 15

 16 ABS issuers 3394.6 4162.2 4515.1 4103.3 3291.1 2235.4 1988.9 1769.6 1481.2 16

 17 Finance companies 1108.6 1144.2 1279.6 1200.3 1044.1 1280.7 1261.9 1205.1 1209.3 17

 18 REITs 395.5 411.0 421.2 367.4 339.8 339.9 365.5 401.0 579.4 18

 19 Brokers and dealers 62.4 68.8 64.8 142.6 92.9 129.7 91.8 90.2 112.4 19

 20 Holding companies 481.8 558.7 710.6 807.9 1253.7 1237.2 1220.8 1416.4 1402.7 20

 21 Funding corporations 619.9 645.3 786.4 1252.8 816.8 704.2 651.8 593.5 620.5 21
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L.4 Credit Market Debt, All Sectors, by Instrument

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total 41480.9 45425.3 50095.2 52454.2 52181.2 52322.3 53272.2 55050.6 56685.7 1

 2 Open market paper 1644.2 1958.4 1788.9 1599.8 1138.0 1057.6 969.3 952.4 951.6 2

 3 Treasury securities 4678.0 4861.7 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 12328.3 3

 4 Agency- and GSE-backed securities 6164.5 6492.4 7397.7 8166.7 8106.8 7598.2 7577.4 7554.6 7794.1 4

 5 Municipal securities 3019.3 3189.3 3424.8 3517.2 3672.5 3772.1 3719.4 3714.4 3671.2 5

 6 Corporate and foreign bonds 8141.2 9183.9 10543.2 10044.0 10371.8 10327.8 10415.7 10910.9 11103.2 6

 7 Depository institution loans n.e.c. 1583.0 1770.1 2094.5 2794.4 2035.9 2001.2 2147.8 2322.7 2508.8 7

 8 Other loans and advances 1819.8 1980.8 2508.4 2627.2 2096.1 1762.8 1767.7 1819.8 1935.0 8

 9 Mortgages 12110.3 13526.8 14622.7 14716.1 14425.4 13793.7 13490.7 13283.2 13295.5 9

 10 Consumer credit 2320.6 2461.9 2615.7 2650.6 2552.8 2647.4 2755.9 2923.6 3097.9 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 20636.1 24339.3 25580.9 15640.5 20085.5 23567.2 22960.8 26237.2 33671.6 11

 12 Mutual fund shares 6045.6 7065.0 7822.6 5388.0 6920.7 7873.0 7870.9 9326.1 11544.8 12

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

Billions of dollars

 Total credit market debt

 1 (from table L.4) 41480.9 45425.3 50095.2 52454.2 52181.2 52322.3 53272.2 55050.6 56685.7 1

 2 U.S. official reserve assets 60.9 62.0 66.9 73.8 174.8 175.5 190.9 193.2 187.7 2

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

 4 Treasury currency 27.5 28.1 27.4 26.6 26.2 25.9 25.9 25.9 25.6 4

 5 Foreign deposits 1165.5 1346.1 1636.2 1302.9 1258.4 1303.9 1066.4 922.8 954.8 5

 6 Net interbank liabilities 46.0 50.7 0.6 1752.4 1215.5 1068.5 1889.0 1683.8 2795.4 6

 7 Checkable deposits and currency 1527.2 1507.3 1532.9 2101.3 2093.4 2359.8 2594.3 2853.8 3186.5 7

 8 Small time and savings deposits 4598.1 4945.1 5224.5 5749.3 6326.5 6624.9 7202.2 7803.9 8110.8 8

 9 Large time deposits 1892.4 2181.6 2521.9 2339.5 2105.9 1923.2 1750.0 1659.9 1762.0 9

 10 Money market fund shares 1993.1 2296.3 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2678.3 10

 11 Security repurchase agreements 3756.6 4427.8 4845.3 3555.7 3175.6 3597.9 3878.7 4130.1 3652.9 11

 12 Mutual fund shares 6045.6 7065.0 7822.6 5388.0 6920.7 7873.0 7870.9 9326.1 11544.8 12

 13 Security credit 893.3 1041.2 1295.0 942.1 936.7 1041.7 1034.2 1131.9 1236.2 13

 14 Life insurance reserves 1082.6 1163.7 1201.5 1179.8 1242.1 1278.3 1352.0 1359.0 1416.5 14

 15 Pension entitlements 13466.3 14478.7 15262.2 14286.6 15455.1 17031.7 17444.7 18457.8 19886.1 15

 16 Trade payables 2982.6 3172.4 3372.8 3208.0 3216.0 3370.8 3452.5 3593.3 3760.9 16

 17 Taxes payable 214.5 237.0 167.7 44.0 40.6 53.1 74.0 79.5 90.9 17

 18 Miscellaneous 12195.8 12744.2 13679.6 15723.2 15807.7 15907.9 16567.2 17363.9 17190.4 18

 19 Total liabilities 97988.8 107276.9 117686.6 120032.8 121915.7 125616.2 129711.1 136257.6 143631.9 19

 + Financial assets not included in

 liabilities:

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

 21 Corporate equities 20636.1 24339.3 25580.9 15640.5 20085.5 23567.2 22960.8 26237.2 33671.6 21

 22 Household equity in noncorp. bus. 8473.0 8908.1 9003.8 7548.8 6301.6 6939.4 7418.3 8086.4 9057.7 22

 - Liabilities not identified as assets:

 23 Treasury currency -9.1 -10.1 -11.3 -12.1 -16.5 -17.6 -18.3 -18.8 -19.9 23

 24 Foreign deposits 962.3 1161.1 1398.1 1122.8 1067.0 1090.1 931.3 794.0 780.8 24

 25 Net interbank transactions -60.7 -61.4 -56.3 -11.4 3.0 24.8 28.3 20.1 76.9 25

 26 Security repurchase agreements 322.2 504.8 285.6 42.0 206.4 255.3 324.5 205.6 38.6 26

 27 Taxes payable 20.6 26.5 -54.6 -198.4 -210.4 -209.0 -198.8 -200.4 -198.7 27

 28 Miscellaneous -3945.0 -5305.3 -5880.4 -5495.8 -5388.6 -5900.9 -6109.9 -6216.7 -6604.6 28

 - Floats not included in assets:

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

 30 Federal govt. 1.6 -0.2 2.4 0.8 1.7 2.2 2.3 2.1 1.2 30

 31 Private domestic 7.4 7.4 7.3 5.3 4.2 3.2 4.1 4.9 3.7 31

 32 Trade credit -5.2 140.9 95.1 122.5 245.1 238.5 207.2 238.4 240.6 32

 33 Totals identified to sectors as assets 129814.8 144071.7 156496.6 147657.4 152401.9 160647.2 164930.7 175763.2 192053.6 33
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F.6 Distribution of Gross Domestic Product (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross Domestic Product (GDP) 13093.7 13855.9 14477.6 14718.6 14418.7 14964.4 15517.9 16163.1 16768.0 1

 2 Personal consumption expenditures (2) 8794.1 9304.0 9750.5 10013.6 9847.0 10202.2 10689.3 11083.1 11484.3 2

 3 Durable goods 1127.2 1156.1 1184.6 1102.3 1023.3 1070.7 1125.3 1192.1 1249.3 3

 4 Nondurable goods 1953.0 2079.7 2176.9 2273.4 2175.1 2292.1 2471.1 2549.8 2601.9 4

 5 Services 5713.8 6068.2 6388.9 6637.9 6648.5 6839.4 7092.8 7341.3 7633.2 5

 6 Gross private domestic investment 2527.1 2680.6 2643.7 2424.8 1878.1 2100.8 2239.9 2479.2 2648.0 6

 7 Fixed investment (3) 2467.5 2613.7 2609.3 2456.8 2025.7 2039.3 2198.1 2414.3 2573.9 7

 8 Nonresidential 1611.5 1776.3 1920.6 1941.0 1633.4 1658.2 1812.1 1972.0 2054.0 8

 9 Household sector (nonprofit organizations) 126.1 137.4 153.9 155.1 147.1 134.1 130.8 134.9 136.0 9

 10 Nonfinancial corporate business 1132.2 1257.1 1345.6 1365.3 1140.6 1178.1 1299.2 1415.1 1475.9 10

 11 Nonfinancial noncorporate business 173.2 193.2 209.6 224.3 178.9 183.3 214.6 231.8 240.7 11

 12 Financial institutions 180.0 188.7 211.5 196.2 166.9 162.8 167.5 190.2 201.5 12

 13 Residential 856.1 837.4 688.7 515.9 392.2 381.1 386.0 442.3 519.9 13

 14 Household sector 738.9 722.7 582.3 425.3 321.0 318.3 321.1 368.0 433.4 14

 15 Nonfinancial corporate business 6.0 5.0 17.2 6.8 4.7 0.5 -1.8 0.1 -8.1 15

 16 Nonfinancial noncorporate business 108.7 106.2 98.5 83.7 65.8 58.3 60.2 68.9 79.9 16

 17 REITs 2.5 3.5 -9.3 0.1 0.7 4.0 6.5 5.3 14.7 17

 18 Change in private inventories 59.6 67.0 34.5 -32.0 -147.6 61.5 41.8 64.9 74.1 18

 19 Nonfinancial corporate business 52.5 61.7 31.2 -29.7 -130.8 57.9 34.9 61.8 56.7 19

 20 Nonfinancial noncorporate business 7.1 5.3 3.3 -2.3 -16.8 3.6 6.8 3.0 17.4 20

 21 Net U.S. exports of goods and services -721.2 -770.9 -718.5 -723.1 -395.4 -512.7 -580.0 -568.3 -508.2 21

 22 Exports 1308.9 1476.3 1664.6 1841.9 1587.7 1852.3 2106.4 2194.2 2262.2 22

 23 - Imports 2030.1 2247.3 2383.2 2565.0 1983.2 2365.0 2686.4 2762.5 2770.4 23

 Government consumption expenditures and

 24 gross investment 2493.7 2642.2 2801.9 3003.2 3089.1 3174.0 3168.7 3169.2 3143.9 24

 25 Consumption expenditures (4) 1980.0 2089.8 2209.7 2368.6 2442.1 2522.2 2530.9 2549.7 2547.6 25

 26 Federal 723.4 763.9 798.4 879.8 933.7 1003.9 1006.1 1003.6 963.0 26

 27 State and local 1256.6 1325.9 1411.4 1488.7 1508.4 1518.3 1524.8 1546.1 1584.5 27

 28 Gross investment (4) 513.6 552.3 592.2 634.6 647.0 651.8 637.9 619.4 596.3 28

 29 Federal 222.9 238.0 251.4 275.8 284.0 300.0 297.4 287.8 268.5 29

 30 State and local 290.8 314.3 340.8 358.8 363.0 351.9 340.5 331.6 327.8 30

 Memo:

 31 Net U.S. income receipts from rest of the world 92.6 67.6 125.6 172.0 151.0 206.0 246.6 227.4 224.3 31

 32 U.S. income receipts 575.8 724.2 875.7 856.9 648.9 720.0 792.6 793.8 810.4 32

 33 - U.S. income payments 483.2 656.6 750.1 684.9 497.8 514.1 546.0 566.5 586.1 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 13186.3 13923.5 14603.2 14890.6 14569.8 15170.4 15764.6 16390.5 16992.4 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -9.1 -10.1 -11.2 -11.0 -9.7 -8.5 -7.8 -7.7 -7.9 35

 36 Nonfinancial corporate business 1.0 13.6 0.4 17.6 6.3 -1.1 -0.5 0.9 1.3 36

 37 State and local governments 10.0 11.0 13.6 13.8 12.3 10.6 9.2 8.7 9.0 37

 38 Federal governments -2.0 -14.4 -3.3 -20.4 -8.9 -1.0 -0.9 -1.9 -2.4 38

 39 Rest of the world 0.1 -0.1 0.5 -0.0 0.0 -0.0 -0.0 -0.1 0.0 39

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

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

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

(4) Government inventory investment is included in consumption expenditures.
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8 Historical Annuals, 2005-2013, September 18, 2014

F.7 Distribution of National Income (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 National Income 11239.8 12004.8 12321.4 12427.8 12126.1 12739.5 13352.3 14069.5 14577.1 1

 2 Compensation of employees 7086.8 7502.3 7898.3 8078.3 7787.0 7961.4 8269.0 8606.5 8844.8 2

 3 Wages and other labor income 6658.7 7055.0 7436.6 7606.9 7328.9 7492.1 7775.1 8092.6 8318.6 3

 4 Employer social insurance contributions 428.1 447.4 461.7 471.3 458.1 469.4 493.9 513.9 526.1 4

 Proprietors’ income with inventory

 5 valuation and capital consumption adjustments 979.0 1053.7 979.2 1026.5 973.0 1032.7 1143.7 1260.2 1336.6 5

 Rental income of persons (with capital

 6 consumption adjustment) 238.4 207.5 189.4 262.1 333.7 402.8 485.3 533.0 595.8 6

 Corporate profits with inventory

 7 valuation and capital consumption adjustments 1477.7 1646.5 1529.0 1285.1 1397.0 1746.4 1816.6 2022.8 2106.9 7

 Corporate profits with inventory

 8 valuation adjustment 1621.2 1815.7 1708.9 1345.5 1479.2 1799.7 1738.5 2126.6 2238.7 8

 9 Profits before tax 1653.3 1851.4 1748.4 1382.4 1472.6 1840.7 1806.8 2136.1 2235.3 9

 10 Domestic nonfinancial 1004.6 1180.1 1093.5 880.3 752.5 1039.2 1008.9 1245.4 1298.8 10

 11 Domestic financial 409.7 415.1 301.5 95.4 362.9 406.3 375.9 488.9 533.5 11

 12 Rest of the world 239.1 256.2 353.4 406.7 357.2 395.2 421.9 401.8 403.1 12

 Less:

 13 Taxes on corporate income 412.4 473.4 445.5 309.1 269.4 370.6 379.1 454.8 474.3 13

 14 Domestic nonfinancial 271.9 307.7 293.8 227.4 177.8 220.6 228.8 271.4 329.3 14

 15 Domestic financial 140.5 165.7 151.7 81.7 91.6 150.0 150.3 183.4 144.9 15

 Equals:

 16 Profits after tax 1240.9 1378.1 1302.9 1073.3 1203.1 1470.1 1427.7 1681.3 1761.1 16

 17 Net dividends 580.5 726.0 818.9 808.6 574.6 564.0 703.7 857.1 959.6 17

 18 Domestic nonfinancial 170.8 471.1 484.6 474.2 351.4 375.5 441.0 520.6 536.9 18

 19 Domestic financial 148.9 177.0 193.9 153.9 105.1 67.1 107.7 159.7 289.8 19

 20 Rest of the world 260.9 77.9 140.4 180.5 118.1 121.4 154.9 176.9 132.9 20

 21 Undistributed profits 660.4 652.1 484.0 264.7 628.5 906.2 724.0 824.2 801.5 21

 22 Domestic nonfinancial 561.9 401.3 315.1 178.7 223.3 443.1 339.1 453.5 432.6 22

 23 Domestic financial 120.3 72.5 -44.1 -140.2 166.2 189.3 117.9 145.8 98.7 23

 24 Rest of the world -21.8 178.3 213.0 226.2 239.1 273.8 267.0 225.0 270.2 24

 25 Inventory valuation adjustment -32.1 -35.7 -39.5 -37.0 6.7 -41.0 -68.3 -9.5 3.3 25

 26 Capital consumption adjustment -143.5 -169.2 -179.9 -60.4 -82.2 -53.3 78.1 -103.8 -131.8 26

 27 Domestic nonfinancial -101.5 -129.4 -139.4 -29.1 -41.1 -15.2 98.3 -66.5 -88.3 27

 28 Domestic financial -41.9 -39.8 -40.5 -31.4 -41.2 -38.1 -20.2 -37.3 -43.5 28

 29 Net interest and miscellaneous payments 496.8 580.9 663.4 693.4 563.4 489.4 488.1 491.7 499.8 29

 30 Taxes on production and imports 934.5 991.9 1034.6 1041.9 1026.1 1057.1 1102.6 1132.0 1162.4 30

 31 Less: Subsidies 60.9 51.5 54.6 52.6 58.3 55.9 60.1 58.0 60.2 31

 32 Business current transfer payments (net) 93.9 82.6 98.6 114.4 124.9 128.5 131.5 106.7 120.6 32

 33 Current surplus of government enterprises -6.4 -9.3 -16.4 -21.2 -20.6 -22.9 -24.5 -25.3 -29.6 33

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 34 National Income, from line 1 above 11239.8 12004.8 12321.4 12427.8 12126.1 12739.5 13352.3 14069.5 14577.1 34

 Plus:

 35 Private consumption of fixed capital 1635.3 1765.0 1865.0 1936.9 1925.7 1923.5 1971.1 2034.2 2120.8 35

 36 Government consumption of fixed capital 346.7 371.0 399.4 426.5 442.7 458.1 479.6 496.0 506.4 36

 37 Statistical discrepancy -35.5 -217.3 17.5 99.4 75.3 49.2 -38.3 -209.2 -211.9 37

 Less:

 38 Net U.S. income receipts from rest of the world 92.6 67.6 125.6 172.0 151.0 206.0 246.6 227.4 224.3 38

 Equals:

 39 Gross Domestic Product 13093.7 13855.9 14477.6 14718.6 14418.7 14964.4 15517.9 16163.1 16768.0 39

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

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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Historical Annuals, 2005-2013, September 18, 2014 9

F.8 Saving and Investment by Sector (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 2333.4 2646.3 2500.8 2273.9 2072.5 2255.5 2435.6 2825.6 3034.1 1

 2 Net saving 351.4 510.2 236.5 -89.5 -295.8 -126.1 -15.1 295.4 406.8 2

 3 Net private saving 722.8 776.7 574.9 709.6 1224.9 1439.9 1445.0 1607.1 1281.1 3

 4 Domestic business 484.8 447.1 264.6 167.3 552.9 811.9 733.9 710.9 673.0 4

 5 Nonfinancial corporate business 411.7 386.5 313.1 296.7 381.0 603.5 584.2 563.7 571.3 5

 6 Financial business 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 147.2 101.7 6

 7 Households and institutions 237.9 329.5 310.3 542.2 672.0 628.0 711.1 896.2 608.1 7

 8 Net government saving -371.3 -266.4 -338.4 -799.0 -1520.8 -1566.0 -1460.1 -1311.7 -874.3 8

 9 Federal -304.7 -227.0 -265.6 -634.0 -1248.8 -1328.7 -1244.1 -1079.1 -649.1 9

 10 State and local -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -232.6 -225.1 10

 11 Consumption of fixed capital 1982.0 2136.0 2264.4 2363.4 2368.4 2381.6 2450.6 2530.2 2627.2 11

 12 Private 1635.3 1765.0 1865.0 1936.9 1925.7 1923.5 1971.1 2034.2 2120.8 12

 13 Domestic business 1273.2 1368.8 1451.2 1522.3 1522.4 1523.0 1572.8 1629.7 1693.7 13

 14 Nonfinancial corporate business 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1139.2 1183.8 1229.8 14

 15 Nonfinancial noncorporate business 214.4 232.6 245.6 254.5 253.0 251.8 265.0 271.7 281.7 15

 16 Financial business 148.9 156.8 165.4 173.9 177.4 176.7 168.6 174.1 182.2 16

 17 Households and institutions 362.1 396.2 413.7 414.6 403.3 400.5 398.2 404.5 427.1 17

 18 Government 346.7 371.0 399.4 426.5 442.7 458.1 479.6 496.0 506.4 18

 19 Federal 189.4 200.7 212.8 226.3 234.5 245.3 257.4 264.1 268.0 19

 20 State and local 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.8 238.4 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 2297.9 2429.0 2518.3 2373.3 2147.9 2304.7 2397.3 2616.4 2822.1 21

 22 Gross domestic investment 3040.7 3233.0 3235.9 3059.4 2525.1 2752.6 2877.8 3098.6 3244.3 22

 23 Gross private domestic investment 2527.1 2680.6 2643.7 2424.8 1878.1 2100.8 2239.9 2479.2 2648.0 23

 24 Domestic business 1662.1 1820.6 1907.6 1844.4 1410.0 1648.4 1788.0 1976.3 2078.6 24

 25 Nonfinancial corporate business 1185.9 1321.6 1379.4 1342.9 1011.1 1239.0 1338.9 1482.3 1539.2 25

 26 Nonfinancial noncorporate business 296.3 310.3 316.7 305.2 232.0 246.7 281.7 303.7 337.9 26

 27 Financial business 180.0 188.7 211.5 196.2 166.9 162.8 167.5 190.2 201.5 27

 28 Households and institutions 865.0 860.1 736.1 580.4 468.1 452.4 451.9 502.9 569.4 28

 29 Gross government investment 513.6 552.3 592.2 634.6 647.0 651.8 637.9 619.4 596.3 29

 30 Federal 222.9 238.0 251.4 275.8 284.0 300.0 297.4 287.8 268.5 30

 31 State and local 290.8 314.3 340.8 358.8 363.0 351.9 340.5 331.6 327.8 31

 32 Capital account transactions (net) (2) -12.9 2.1 -0.1 -5.4 0.6 0.7 1.6 -6.5 0.8 32

 33 Private -30.8 20.0 -4.0 -53.2 -121.4 -58.5 -46.7 -23.8 7.5 33

 34 Domestic business 0.1 13.6 0.3 -49.9 -83.4 -29.4 -40.9 -11.1 -4.3 34

 35 Nonfinancial corporate business -14.5 13.6 0.3 13.9 44.6 19.8 -6.9 -15.8 -4.3 35

 36 Nonfinancial noncorporate business -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 36

 37 Financial business 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 9.6 0.0 37

 38 Households and institutions -31.0 6.5 -4.4 -3.3 -38.1 -29.1 -5.8 -12.7 11.8 38

 39 Government 18.0 -18.0 3.9 47.8 122.0 59.2 48.4 17.3 -6.6 39

 40 Federal 58.3 28.8 49.6 97.2 177.4 125.3 113.0 82.8 56.0 40

 41 State and local -40.3 -46.8 -45.7 -49.4 -55.4 -66.2 -64.6 -65.5 -62.6 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -730.0 -806.1 -717.5 -680.7 -377.8 -448.6 -482.1 -475.7 -423.0 42

 43 Private -173.7 -376.3 -182.4 374.2 1469.2 1370.4 1184.6 976.7 534.5 43

 44 Domestic business 60.3 -235.5 -174.7 -5.5 824.0 765.2 521.3 166.2 80.6 44

 45 Nonfinancial corporate business (3) 114.8 -186.6 -8.9 133.2 492.6 488.5 353.1 71.7 54.3 45

 46 Nonfinancial noncorporate business -68.8 -77.7 -71.1 -47.5 27.0 12.8 -15.1 -27.1 -56.2 46

 47 Financial business 14.3 28.8 -94.6 -91.2 304.4 263.8 183.3 121.5 82.5 47

 48 Households and institutions -234.0 -140.8 -7.7 379.7 645.2 605.2 663.3 810.5 454.0 48

 49 Government -556.3 -429.8 -535.1 -1055.0 -1847.1 -1819.0 -1666.7 -1452.4 -957.5 49

 50 Federal -396.6 -293.2 -353.9 -780.6 -1475.7 -1508.7 -1397.1 -1185.6 -705.6 50

 51 State and local -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -266.9 -252.0 51

 52 Statistical discrepancy (line 21 less line 1) -35.5 -217.3 17.5 99.4 75.3 49.2 -38.3 -209.2 -211.9 52

 Addenda:

 53 Disaster losses 110.4 0.0 0.0 19.1 0.0 0.0 0.0 45.9 0.0 53

 54 Private 99.2 0.0 0.0 19.1 0.0 0.0 0.0 38.3 0.0 54

 55 Domestic business 48.8 0.0 0.0 10.8 0.0 0.0 0.0 17.5 0.0 55

 56 Households and institutions 50.4 0.0 0.0 8.3 0.0 0.0 0.0 20.9 0.0 56

 57 Government 11.2 0.0 0.0 0.0 0.0 0.0 0.0 7.6 0.0 57

 58 Federal 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

 59 State and local 10.7 0.0 0.0 0.0 0.0 0.0 0.0 7.6 0.0 59

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

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

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

(3) Differs from net lending or net borrowing (capital account) in the Integrated Macroeconomic Accounts of the United States by the statistical discrepancy (line 52).
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10 Historical Annuals, 2005-2013, September 18, 2014

F.9 Net Capital Transfers (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Capital transfers paid, by sector 166.3 104.0 110.9 193.5 272.2 186.7 137.9 139.8 105.4 1

 2 By private business 28.9 0.0 0.0 7.6 40.4 25.8 0.0 14.3 0.0 2

 3 Financial corporations 28.9 0.0 0.0 7.6 0.0 0.0 0.0 14.3 0.0 3

 4 Disaster-related insurance benefits 28.9 0.0 0.0 7.6 0.0 0.0 0.0 14.3 0.0 4

 5 Other 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 40.4 25.8 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 7

 8 By government 91.8 71.0 79.4 145.9 206.9 141.4 123.5 98.8 79.3 8

 9 Federal 85.3 71.0 79.4 145.9 206.9 141.4 123.5 98.8 79.3 9

 10 Investment grants to state and local govts. 49.4 52.7 54.3 57.6 63.4 72.1 69.1 66.6 66.3 10

 11 Disaster-related insurance benefits 17.3 0.0 0.0 2.8 0.0 0.0 0.0 7.6 0.0 11

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

 13 Other capital transfers paid to business 0.0 0.0 0.0 0.1 8.1 12.7 8.0 8.2 5.7 13

 14 Other capital transfers paid to persons 15.9 16.4 24.7 16.9 12.9 14.5 12.4 10.5 6.5 14

 15 Capital transfers paid to the rest of the world (net) 2.6 2.0 0.4 0.8 0.6 0.7 1.6 1.1 0.8 15

 16 State and local 6.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Disaster-related insurance benefits 6.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 By persons 30.3 32.9 31.5 33.9 24.9 19.5 14.4 19.0 26.2 18

 19 Estate and gift taxes, federal 25.0 27.8 26.5 28.3 20.6 15.1 9.6 14.1 20.9 19

 20 Estate and gift taxes, state and local 5.3 5.1 5.0 5.6 4.3 4.4 4.7 4.9 5.3 20

 21 By the rest of the world 15.4 0.0 0.0 6.2 0.0 0.0 0.0 7.7 0.0 21

 22 Disaster-related insurance benefits 15.4 0.0 0.0 6.2 0.0 0.0 0.0 7.7 0.0 22

 23 Other 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 166.3 104.0 110.9 193.5 272.2 186.7 137.9 139.8 105.4 24

 25 By private business 29.7 0.0 0.0 75.0 130.0 54.2 40.4 26.3 5.7 25

 26 Financial corporations 1.1 0.0 0.0 68.1 121.9 41.5 32.4 4.7 0.0 26

 27 Disaster-related insurance benefits 1.1 0.0 0.0 0.4 0.0 0.0 0.0 0.0 0.0 27

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

 29 Nonfinancial corporations 15.5 0.0 0.0 3.7 2.1 4.9 6.4 16.7 5.7 29

 30 Disaster-related insurance benefits 15.5 0.0 0.0 3.6 0.0 0.0 0.0 8.5 0.0 30

 31 Other 0.0 0.0 0.0 0.1 2.1 4.9 6.4 8.1 5.7 31

 32 Noncorporate business 13.1 0.0 0.0 3.3 6.0 7.8 1.6 4.9 0.0 32

 33 Disaster-related insurance benefits 13.1 0.0 0.0 3.3 0.0 0.0 0.0 4.9 0.0 33

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

 35 By government 81.8 85.6 85.8 91.5 88.3 91.8 83.5 88.3 92.5 35

 36 Federal 25.0 27.8 26.5 28.3 20.6 15.1 9.6 14.1 20.9 36

 37 Estate and gift taxes paid by persons 25.0 27.8 26.5 28.3 20.6 15.1 9.6 14.1 20.9 37

 38 State and local 56.8 57.8 59.3 63.2 67.7 76.7 73.8 74.2 71.6 38

 39 Disaster-related insurance benefits 2.1 0.0 0.0 0.0 0.0 0.0 0.0 2.7 0.0 39

 40 Estate and gift taxes paid by persons 5.3 5.1 5.0 5.6 4.3 4.4 4.7 4.9 5.3 40

 41 Investment grants paid by federal government 49.4 52.7 54.3 57.6 63.4 72.1 69.1 66.6 66.3 41

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

 43 By persons 52.2 16.4 24.7 26.2 53.3 40.1 12.4 24.0 6.5 43

 44 Disaster-related insurance benefits 36.3 0.0 0.0 9.3 0.0 0.0 0.0 13.5 0.0 44

 45 Other 15.9 16.4 24.7 16.9 53.3 40.1 12.4 10.5 6.5 45

 46 By the rest of the world 2.6 2.0 0.4 0.8 0.6 0.7 1.6 1.1 0.8 46

 47 Capital transfers paid by U.S. government 2.6 2.0 0.4 0.8 0.6 0.7 1.6 1.1 0.8 47

 48 Other 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) -0.9 -0.0 -0.0 -67.5 -89.6 -28.3 -40.4 -12.0 -5.7 49

 50 Financial corporations (lines 3-26) 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 9.6 0.0 50

 51 Property-casualty insurance companies (line 4) 28.9 0.0 0.0 7.6 0.0 0.0 0.0 14.3 0.0 51

 52 U.S.-chartered depository institutions -1.1 0.0 0.0 -29.7 -18.2 2.4 3.2 0.0 0.0 52

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

 54 Other (lines 5-27) -1.1 0.0 0.0 -0.4 0.0 0.0 0.0 0.0 0.0 54

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

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

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

 58 Nonfinancial corporations (lines 6-29) -15.5 -0.0 -0.0 -3.7 38.3 20.9 -6.4 -16.7 -5.7 58

 59 Noncorporate business (lines 7-32) -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 59

 60 By government (lines 8-35) 10.0 -14.6 -6.4 54.4 118.6 49.6 40.0 10.5 -13.2 60

 61 Federal (lines 9-36) 60.3 43.2 53.0 117.6 186.3 126.3 113.9 84.7 58.4 61

 62 State and local (lines 16-38) -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.8 -74.2 -71.6 62

 63 By persons (lines 18-43) -21.9 16.6 6.8 7.7 -28.4 -20.6 2.0 -5.0 19.7 63

 64 By the rest of the world (lines 21-46) 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 6.5 -0.8 64

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

(2) Sum of lines 53, 55, 56, and 57 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Financial Accounts of the United States.
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Historical Annuals, 2005-2013, September 18, 2014 11

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

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net acquisition of financial assets 1352.2 1429.1 1732.4 1505.9 666.7 781.8 1132.2 1266.9 1069.6 1

 2 Foreign deposits 2.1 6.1 17.8 -17.8 -7.2 4.5 -9.9 -7.7 2.8 2

 3 Checkable deposits and currency -37.2 34.7 -8.5 180.6 115.8 36.2 326.1 175.5 132.2 3

 4 Time and savings deposits 505.0 506.8 498.5 259.8 101.1 165.8 375.3 418.5 214.0 4

 5 Money market fund shares 46.8 221.2 241.5 235.6 -269.0 -179.9 -14.4 10.0 23.0 5

 6 Securities -162.1 -521.6 -339.0 226.3 435.8 -3.7 -193.9 129.4 56.6 6

 7 Open market paper 14.7 19.0 -10.2 -101.3 16.7 -1.5 -1.8 -0.6 -3.8 7

 8 Treasury securities -121.3 -103.7 -37.9 146.1 533.1 320.4 -229.3 211.7 -188.1 8

 9 Agency- and GSE-backed securities 148.4 -23.3 339.6 239.9 -670.9 -10.0 -11.3 -136.7 -94.7 9

 10 Municipal securities 77.9 36.1 37.4 46.9 107.3 44.2 -65.5 -144.8 -43.2 10

 11 Corporate and foreign bonds -71.4 -24.1 147.2 245.7 98.1 -419.5 88.8 -166.2 -197.8 11

 12 Corporate equities (2) -412.6 -608.3 -1065.6 -321.0 -19.0 -221.0 -308.7 -241.3 -59.3 12

 13 Mutual fund shares 196.3 182.5 247.4 -22.5 376.2 281.8 333.4 606.7 642.5 13

 14 Life insurance reserves 15.1 57.8 18.2 59.9 24.6 6.2 73.5 -26.6 19.2 14

 15 Pension entitlements 598.0 602.5 620.9 552.5 397.6 595.8 499.2 497.9 494.9 15

 16 Miscellaneous and other assets 384.5 511.3 674.7 2.0 -126.4 167.4 80.3 78.7 133.4 16

 17 Gross investment in nonfinancial assets 2197.1 2234.8 2146.1 1919.3 1657.2 1694.0 1783.0 1918.0 2078.4 17

 18 Residential fixed investment 847.6 828.9 680.7 509.0 386.9 376.5 381.3 436.9 513.3 18

 19 Nonresidential fixed investment 299.3 330.5 363.5 379.4 326.0 317.4 345.4 366.6 376.7 19

 20 Consumer durables 1052.2 1080.2 1109.8 1044.2 970.8 1005.0 1057.2 1119.1 1178.9 20

 21 Nonproduced nonfinancial assets -9.1 -10.1 -11.2 -11.0 -9.7 -8.5 -7.8 -7.7 -7.9 21

 22 Inventories 7.1 5.3 3.3 -2.3 -16.8 3.6 6.8 3.0 17.4 22

 23 Consumption of fixed capital 1383.7 1477.4 1546.8 1589.5 1590.1 1584.9 1605.6 1641.2 1697.8 23

 24 Residential fixed investment 354.5 388.2 401.6 395.6 377.9 372.0 369.9 372.3 393.9 24

 25 Nonresidential fixed investment 229.3 248.7 266.6 284.2 291.7 294.7 297.4 308.1 319.3 25

 26 Consumer durables 799.9 840.5 878.6 909.6 920.6 918.1 938.2 960.7 984.6 26

 27 Net investment in nonfinancial assets (3) 813.4 757.4 599.3 329.8 67.0 109.2 177.4 276.9 380.6 27

 28 Residential fixed investment 493.1 440.7 279.2 113.3 9.0 4.5 11.5 64.6 119.4 28

 29 Nonresidential fixed investment 70.0 81.9 96.9 95.2 34.3 22.7 48.0 58.5 57.4 29

 30 Consumer durables 252.4 239.6 231.1 134.6 50.3 86.9 119.0 158.4 194.3 30

 31 Nonproduced nonfinancial assets -9.1 -10.1 -11.2 -11.0 -9.7 -8.5 -7.8 -7.7 -7.9 31

 32 Inventories 7.1 5.3 3.3 -2.3 -16.8 3.6 6.8 3.0 17.4 32

 33 Net increase in liabilities 1702.3 1857.3 1547.7 462.6 22.1 -144.8 21.3 384.6 373.9 33

 34 Home mortgages 1120.8 1071.6 767.7 53.6 36.2 -153.6 -83.1 -70.8 3.7 34

 35 Other mortgages 117.8 227.0 286.5 230.9 44.0 -31.4 -5.6 2.4 66.6 35

 36 Consumer credit 100.4 120.5 151.3 34.9 -103.6 -25.3 108.5 169.7 174.3 36

 37 Policy loans 0.8 3.3 3.6 5.9 0.7 3.4 2.4 1.4 0.9 37

 38 Security credit -31.6 59.7 33.4 -160.7 38.1 75.2 -39.3 64.9 35.4 38

 39 Other liabilities 394.1 375.3 305.2 298.0 6.7 -12.9 38.4 217.1 92.9 39

 40 Net capital transfers paid (4) -35.0 16.6 6.8 4.4 -34.4 -28.4 0.4 -10.0 19.7 40

 41 Personal saving, FOF concept (FOF) 428.4 345.7 790.8 1377.5 677.2 1007.4 1288.8 1149.1 1096.1 41

 42 - Net investment in consumer durables 252.4 239.6 231.1 134.6 50.3 86.9 119.0 158.4 194.3 42

 43 - Government insurance and pension fund reserves (5) 0.7 0.1 0.1 -0.6 0.5 -1.7 -0.4 -1.4 -1.2 43

 44 = Personal saving, NIPA concept (FOF) (6) 175.3 106.0 559.5 1243.5 626.5 922.3 1170.2 992.2 903.0 44

 45 Personal saving, NIPA concept (NIPA) 237.9 329.5 310.3 542.2 672.0 628.0 711.1 896.2 608.1 45

 46 Difference -62.6 -223.6 249.2 701.3 -45.5 294.2 459.1 96.0 294.9 46

 Memo:

 47 Disposable personal income 9400.8 10036.9 10507.0 10994.4 10942.5 11237.9 11801.4 12384.0 12505.1 47

 Personal saving as a percentage of disposable personal income:

 48 FOF concept (FOF data) (line 41) 4.6 3.4 7.5 12.5 6.2 9.0 10.9 9.3 8.8 48

 49 NIPA concept (FOF data) (line 44) 1.9 1.1 5.3 11.3 5.7 8.2 9.9 8.0 7.2 49

 50 NIPA concept (NIPA data) (line 45) 2.5 3.3 3.0 4.9 6.1 5.6 6.0 7.2 4.9 50

 51 Difference (line 46) -0.7 -2.2 2.4 6.4 -0.4 2.6 3.9 0.8 2.4 51

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 13), life insurance reserves (line 14), and pension entitlements (line 15).

(3) Line 17 less line 23.

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

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

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

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

 is disposable personal income (line 47) less personal outlays (table F.100, line 4).
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12 Historical Annuals, 2005-2013, September 18, 2014

L.10 Assets and Liabilities of the Personal Sector (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 39652.3 44573.7 47634.4 42203.2 45943.3 49751.7 50263.4 53871.7 59814.4 1

 2 Foreign deposits 63.8 69.9 87.7 69.9 62.7 67.3 57.4 49.7 52.5 2

 3 Checkable deposits and currency 660.1 688.5 669.0 814.6 930.5 955.4 1281.5 1443.3 1575.5 3

 4 Time and savings deposits 5289.1 5828.5 6332.9 6592.7 6679.3 6807.1 7182.3 7555.8 7770.5 4

 5 Money market fund shares 1011.7 1178.8 1420.3 1655.8 1386.9 1206.9 1192.5 1202.6 1225.6 5

 6 Securities 14916.5 17516.7 18345.6 13299.4 16011.9 18082.3 17367.1 19380.0 23343.9 6

 7 Open market paper 98.4 117.5 107.3 6.0 22.7 21.1 19.4 18.8 15.0 7

 8 Treasury securities 425.7 325.8 202.9 184.1 854.0 1126.6 707.0 929.3 949.0 8

 9 Agency- and GSE-backed securities 587.4 613.4 873.9 1056.6 357.4 335.4 300.2 152.7 97.7 9

 10 Municipal securities 1605.1 1641.4 1678.8 1725.7 1833.0 1877.1 1811.6 1666.8 1623.6 10

 11 Corporate and foreign bonds 591.4 556.0 914.2 1253.0 1539.2 1353.1 1343.0 1233.9 1004.6 11

 12 Corporate equities (2) 8025.4 10126.0 9911.7 5760.5 7255.5 8679.9 8475.6 9623.9 12451.3 12

 13 Mutual fund shares 3527.1 4080.3 4597.4 3261.8 4104.0 4641.1 4661.8 5705.4 7152.4 13

 14 Life insurance reserves 1082.6 1055.2 1076.8 1049.8 1109.2 1137.2 1199.0 1186.1 1232.8 14

 15 Pension entitlements 13466.3 14478.7 15262.2 14286.6 15455.1 17031.7 17444.7 18457.8 19886.1 15

 16 Life insurance companies 2004.9 2174.5 2296.8 2054.7 2148.2 2343.2 2384.6 2576.6 2816.9 16

 17 Private pension funds 5435.9 5849.7 6188.8 5333.2 6002.2 6650.1 6753.3 7278.0 8141.8 17

 18 Governments 6025.5 6454.5 6776.6 6898.7 7304.7 8038.4 8306.8 8603.2 8927.4 18

 19 Miscellaneous and other assets 3162.1 3678.2 4352.3 4339.7 4218.9 4385.5 4464.5 4530.7 4668.3 19

 20 Total liabilities 16342.9 18225.4 19743.8 20073.8 19793.1 19457.0 19329.1 19503.2 19784.3 20

 21 Home mortgages 9389.7 10461.2 11196.8 11120.3 10917.5 10431.8 10193.3 9973.9 9884.6 21

 22 Other mortgages 1788.7 2015.7 2302.2 2530.3 2574.3 2542.8 2537.2 2539.7 2606.3 22

 23 Consumer credit 2320.6 2461.9 2615.7 2650.6 2552.8 2647.4 2755.9 2923.6 3097.9 23

 24 Policy loans 107.6 110.9 114.5 120.4 121.1 124.5 126.9 128.3 129.2 24

 25 Security credit 232.4 292.1 325.5 164.8 203.0 278.2 238.9 303.7 339.2 25

 26 Other liabilities 2503.9 2883.6 3189.1 3487.4 3424.4 3432.3 3476.8 3634.1 3727.2 26

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 13), life insurance reserves (line 14), and pension entitlements (line 15).
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Historical Annuals, 2005-2013, September 18, 2014 13

F.100 Households and Nonprofit Organizations (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Personal income 10609.3 11389.0 11994.9 12429.6 12087.5 12429.3 13202.0 13887.7 14166.9 1

 2 - Personal current taxes 1208.5 1352.1 1487.9 1435.2 1144.9 1191.5 1400.6 1503.7 1661.8 2

 3 = Disposable personal income 9400.8 10036.9 10507.0 10994.4 10942.5 11237.9 11801.4 12384.0 12505.1 3

 4 - Personal outlays 9162.9 9707.4 10196.7 10452.2 10270.5 10609.8 11090.2 11487.8 11897.1 4

 5 = Personal saving, NIPA (2) 237.9 329.5 310.3 542.2 672.0 628.0 711.1 896.2 608.1 5

 6 + Government insurance and pension reserves (3) 0.7 0.1 0.1 -0.6 0.5 -1.7 -0.4 -1.4 -1.2 6

 7 + Net investment in consumer durables 252.4 239.6 231.1 134.6 50.3 86.9 119.0 158.4 194.3 7

 8 + Consumption of fixed capital 1159.2 1233.8 1289.2 1320.5 1319.5 1314.0 1336.5 1365.2 1411.7 8

 9 - Net capital transfers paid (4) -21.9 16.6 6.8 7.7 -28.4 -20.6 2.0 -5.0 19.7 9

 10 = Gross saving less net capital transfers paid 1672.0 1786.5 1824.0 1989.0 2070.6 2047.7 2164.2 2423.4 2193.2 10

 11 Gross investment 1609.4 1562.9 2073.2 2690.3 2025.1 2342.0 2623.3 2519.4 2488.1 11

 12 Capital expenditures 1908.1 1930.1 1834.7 1613.6 1429.3 1448.9 1501.3 1614.3 1740.4 12

 13 Residential 738.9 722.7 582.3 425.3 321.0 318.3 321.1 368.0 433.4 13

 14 Consumer durable goods 1052.2 1080.2 1109.8 1044.2 970.8 1005.0 1057.2 1119.1 1178.9 14

 15 Nonprofit nonresidential 126.1 137.4 153.9 155.1 147.1 134.1 130.8 134.9 136.0 15

 16 Nonproduced nonfinancial assets -9.1 -10.1 -11.2 -11.0 -9.7 -8.5 -7.8 -7.7 -7.9 16

 17 Net lending (+) or net borrowing (-) -298.7 -367.2 238.5 1076.7 595.8 893.1 1122.0 905.1 747.7 17

 18 Net acquisition of financial assets 860.7 907.7 1199.5 1087.2 671.6 788.8 1057.1 1180.6 991.2 18

 19 Foreign deposits 2.1 6.1 17.8 -17.8 -7.2 4.5 -9.9 -7.7 2.8 19

 20 Checkable deposits and currency -113.9 -40.0 -75.3 176.8 101.0 38.9 328.5 160.6 135.9 20

 21 Time and savings deposits 481.5 486.5 483.6 261.0 105.9 162.8 371.4 413.5 206.4 21

 22 Money market fund shares 44.4 218.0 239.3 234.5 -267.3 -183.0 -15.2 9.0 21.3 22

 23 Credit market instruments 59.0 -103.6 480.5 598.1 72.2 -88.9 -225.2 -261.9 -536.4 23

 24 Open market paper 14.7 19.0 -10.2 -101.3 16.7 -1.5 -1.8 -0.6 -3.8 24

 25 Treasury securities -121.3 -103.7 -37.9 146.1 533.1 320.4 -229.3 211.7 -188.1 25

 26 Agency- and GSE-backed securities 148.4 -23.3 339.6 239.9 -670.9 -10.0 -11.3 -136.7 -94.7 26

 27 Municipal securities 77.8 34.7 37.9 47.3 107.1 43.6 -65.6 -144.9 -43.3 27

 28 Corporate and foreign bonds -71.4 -24.1 147.2 245.7 98.1 -419.5 88.8 -166.2 -197.8 28

 29 Other loans and advances (5) 2.7 0.4 8.5 12.2 -5.3 -0.6 -2.8 -2.5 5.0 29

 30 Mortgages 8.1 -17.1 -12.9 1.1 -0.9 -10.9 0.7 -13.9 -7.2 30

 31 Consumer credit (student loans) 0.0 10.4 8.4 7.1 -5.8 -10.4 -3.9 -8.8 -6.5 31

 32 Corporate equities (6) -412.6 -608.3 -1065.6 -321.0 -19.0 -221.0 -308.7 -241.3 -59.3 32

 33 Mutual fund shares 196.3 182.5 247.4 -22.5 376.2 281.8 333.4 606.7 642.5 33

 34 Security credit -11.8 77.2 216.4 -179.6 -35.7 23.5 0.9 42.0 58.5 34

 35 Life insurance reserves 15.1 57.8 18.2 59.9 24.6 6.2 73.5 -26.6 19.2 35

 36 Pension entitlements (7) 598.0 602.5 620.9 552.5 397.6 595.8 499.2 497.9 494.9 36

 37 Equity in noncorporate business -55.4 -8.4 -49.9 -309.8 -111.5 159.8 -61.4 -5.4 -46.8 37

 38 Miscellaneous assets 58.0 37.4 66.1 55.1 34.9 8.3 70.7 -6.1 52.2 38

 39 Net increase in liabilities 1159.4 1274.9 961.0 10.5 75.8 -104.3 -64.9 275.5 243.6 39

 40 Credit market instruments 1177.0 1201.1 911.9 145.9 1.2 -152.8 -26.4 206.0 204.1 40

 41 Home mortgages (8) 1053.3 997.4 732.2 93.9 66.2 -180.8 -67.8 -58.9 6.5 41

 42 Consumer credit 100.4 120.5 151.3 34.9 -103.6 -25.3 108.5 169.7 174.3 42

 43 Municipal securities 15.1 16.4 21.1 9.3 5.9 -2.2 -7.8 -14.5 -13.1 43

 44 Depository institution loans n.e.c. (9) 0.3 44.2 -9.1 4.6 28.3 50.1 -54.9 110.8 30.0 44

 45 Other loans and advances 0.0 4.8 3.2 6.2 0.5 2.4 1.9 1.2 2.0 45

 46 Commercial mortgages 7.8 17.9 13.3 -3.0 3.8 3.0 -6.3 -2.3 4.4 46

 47 Security credit -31.6 59.7 33.4 -160.7 38.1 75.2 -39.3 64.9 35.4 47

 48 Trade payables 13.0 13.6 14.6 22.2 41.4 -29.4 1.2 4.0 1.0 48

 49 Deferred and unpaid life insurance premiums 1.0 0.5 1.0 3.2 -4.9 2.7 -0.4 0.6 3.0 49

 50 Discrepancy 62.6 223.6 -249.2 -701.3 45.5 -294.2 -459.1 -96.0 -294.9 50

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

 outstandings of nonprofit organizations.

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

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

(4) Table F.9, line 63.

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

(6) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 33) and life insurance reserves (line 35), and pension entitlements (line 36).

(7) Includes public and private defined benefit and defined contribution pension plans and annuities, including those in IRAs, at life insurance companies. Excludes social security.

(8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 24.

(9) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.108, line 21.
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14 Historical Annuals, 2005-2013, September 18, 2014

F.101 Nonfinancial Business (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Income before taxes 2063.9 2317.0 2165.7 2021.7 1842.4 2206.6 2311.0 2682.4 2820.3 1

 2 Gross saving less net capital transfers paid 1573.0 1606.7 1610.1 1665.4 1710.3 1955.3 1999.2 2041.8 2090.6 2

 3 Gross investment 1408.4 1442.0 1443.8 684.6 1845.9 1659.2 1201.7 1249.1 1599.6 3

 4 Capital expenditures 1480.7 1642.0 1705.8 1665.7 1248.7 1480.6 1613.5 1781.7 1863.7 4

 5 Fixed investment 1420.1 1561.4 1670.9 1680.1 1390.0 1420.1 1572.3 1715.9 1788.3 5

 6 Residential 114.7 111.1 115.7 90.5 70.5 58.8 58.4 69.0 71.8 6

 7 Nonresidential 1305.4 1450.3 1555.3 1589.6 1319.5 1361.4 1513.9 1646.9 1716.5 7

 8 Change in inventories 59.6 67.0 34.5 -32.0 -147.6 61.5 41.8 64.9 74.1 8

 9 Nonproduced nonfinancial assets 1.0 13.6 0.4 17.6 6.3 -1.1 -0.5 0.9 1.3 9

 10 Net lending (+) or net borrowing (-) -72.3 -200.0 -262.0 -981.1 597.2 178.6 -411.9 -532.6 -264.1 10

 11 Net acquisition of financial assets 1381.8 1220.0 1552.2 -511.5 182.7 784.7 510.0 761.0 967.4 11

 12 Foreign deposits 9.9 -14.2 0.9 -25.5 6.8 9.1 -5.8 1.0 51.9 12

 13 Checkable deposits and currency 137.5 -42.5 59.3 -55.2 85.6 76.8 27.3 30.1 74.2 13

 14 Time and savings deposits 73.4 66.9 -40.7 -130.7 172.1 62.8 17.1 41.8 58.4 14

 15 Money market fund shares 55.1 72.2 129.4 179.6 -73.1 -154.6 -34.6 19.3 42.2 15

 16 Security repurchase agreements 8.1 1.0 -7.5 -0.9 0.7 4.3 0.4 -2.8 -0.9 16

 17 Credit market instruments 53.8 -16.2 -65.9 -45.4 3.4 9.2 -6.1 -8.6 -41.2 17

 18 Commercial paper 16.0 11.7 -53.2 -12.2 -1.3 12.0 -0.1 -8.0 -21.8 18

 19 Treasury securities 24.1 -6.5 -4.1 -15.4 6.8 7.0 -4.5 -2.8 1.7 19

 20 Agency- and GSE-backed securities 6.0 -2.2 -2.4 -2.6 4.2 1.7 -1.7 -1.1 -3.8 20

 21 Municipal securities 0.4 -2.7 0.6 -3.4 1.1 -2.6 -1.6 1.8 -11.8 21

 22 Mortgages 7.0 -10.0 -11.0 -10.7 -5.3 2.6 -0.1 -0.2 0.1 22

 23 Consumer credit 0.4 -6.5 4.3 -1.2 -2.1 -11.4 1.9 1.7 -5.6 23

 24 Mutual fund shares 0.7 23.6 -4.9 -16.5 35.3 11.1 -12.8 -0.1 0.9 24

 25 Trade receivables 344.2 26.2 214.6 -172.5 -57.5 142.8 89.6 91.1 156.8 25

 26 U.S. direct investment abroad 24.7 219.2 307.0 262.6 269.7 303.3 403.9 315.9 317.4 26

 27 Miscellaneous assets 674.4 883.8 960.1 -507.0 -260.4 319.8 31.0 273.3 307.7 27

 28 Net increase in liabilities 1454.0 1420.0 1814.2 469.6 -414.5 606.0 921.9 1293.6 1231.5 28

 29 Credit market instruments 608.7 803.6 1114.7 587.7 -455.7 -90.3 303.2 492.9 546.6 29

 30 Commercial paper -7.7 22.4 11.3 7.7 -73.1 24.5 33.4 14.0 14.2 30

 31 Municipal securities 41.9 53.3 68.4 66.0 37.2 33.2 8.5 15.2 9.3 31

 32 Corporate bonds -41.3 74.7 118.8 116.5 215.8 179.4 161.7 324.4 280.6 32

 33 Depository institution loans n.e.c. 130.8 137.3 237.1 183.7 -336.0 -103.8 125.6 166.1 96.1 33

 34 Other loans and advances 116.5 144.7 301.2 80.2 -166.1 -85.7 60.8 -24.3 59.8 34

 35 Mortgages 368.6 371.1 377.9 133.6 -133.4 -137.9 -86.9 -2.5 86.6 35

 36 Corporate equities -300.2 -496.9 -713.0 -319.6 -52.5 -255.1 -456.7 -359.5 -373.3 36

 37 Trade payables 248.7 123.4 111.1 -219.4 -65.8 186.6 33.1 84.5 120.3 37

 38 Taxes payable 6.9 8.2 -45.8 9.8 -9.5 6.4 10.0 4.3 -6.3 38

 39 Foreign direct investment in U.S. 98.8 191.1 211.9 189.4 104.8 157.4 192.7 170.7 207.6 39

 40 Miscellaneous liabilities 845.4 792.2 1188.8 543.1 176.2 442.2 898.3 912.8 779.6 40

 41 Proprietors’ net investment -54.2 -1.6 -53.5 -321.4 -112.1 158.9 -58.6 -12.2 -43.0 41

 42 Discrepancy 164.6 164.8 166.3 980.8 -135.6 296.1 797.5 792.7 491.0 42

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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Historical Annuals, 2005-2013, September 18, 2014 15

F.102 Nonfinancial Corporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Profits before tax (book) 1004.6 1180.1 1093.5 880.3 752.5 1039.2 1008.9 1245.4 1298.8 1

 2 - Taxes on corporate income 271.9 307.7 293.8 227.4 177.8 220.6 228.8 271.4 329.3 2

 3 - Net dividends 170.8 471.1 484.6 474.2 351.4 375.5 441.0 520.6 536.9 3

 4 + Capital consumption allowance (1) 807.9 848.8 901.4 1063.8 1049.3 1077.3 1236.1 1115.7 1140.6 4

 5 = U.S. internal funds, book 1369.8 1250.1 1216.6 1242.5 1272.6 1520.4 1575.2 1569.2 1573.2 5

 6 + Foreign earnings retained abroad -17.8 148.7 175.5 183.8 192.7 218.2 215.1 184.6 222.4 6

 7 + Inventory valuation adjustment (IVA) -32.1 -35.7 -39.5 -37.0 6.7 -41.0 -68.3 -9.5 3.3 7

 8 - Net capital transfers paid (2) -15.5 -0.0 -0.0 -3.7 38.3 20.9 -6.4 -16.7 -5.7 8

 9 = Total internal funds + IVA 1335.4 1363.1 1352.5 1393.1 1433.7 1676.7 1728.5 1761.0 1804.6 9

 10 Gross investment 1170.8 1198.3 1186.2 412.3 1569.3 1380.6 931.0 968.3 1313.6 10

 11 Capital expenditures 1191.7 1337.3 1394.4 1360.0 1020.8 1235.4 1331.9 1478.0 1525.8 11

 12 Fixed investment (3) 1138.2 1262.0 1362.8 1372.1 1145.3 1178.6 1297.4 1415.2 1467.8 12

 13 Inventory change + IVA 52.5 61.7 31.2 -29.7 -130.8 57.9 34.9 61.8 56.7 13

 14 Nonproduced nonfinancial assets 1.0 13.6 0.4 17.6 6.3 -1.1 -0.5 0.9 1.3 14

 15 Net lending (+) or net borrowing (-) -20.9 -139.0 -208.2 -947.7 548.5 145.2 -400.9 -509.7 -212.2 15

 16 Net acquisition of financial assets 944.5 700.1 1072.8 -608.8 299.8 632.7 493.4 686.9 932.0 16

 17 Foreign deposits 9.9 -14.2 0.9 -25.5 6.8 9.1 -5.8 1.0 51.9 17

 18 Checkable deposits and currency 60.8 -117.2 -7.6 -59.0 70.8 79.6 29.7 15.2 77.9 18

 19 Time and savings deposits 49.9 46.6 -55.7 -129.4 176.9 59.9 13.2 36.8 50.8 19

 20 Money market fund shares 52.7 69.1 127.2 178.5 -71.4 -157.7 -35.4 18.2 40.6 20

 21 Security repurchase agreements 8.1 1.0 -7.5 -0.9 0.7 4.3 0.4 -2.8 -0.9 21

 22 Credit market instruments 42.4 -16.1 -75.8 -34.6 10.1 2.6 -7.1 -10.0 -43.3 22

 23 Commercial paper 16.0 11.7 -53.2 -12.2 -1.3 12.0 -0.1 -8.0 -21.8 23

 24 Treasury securities 18.1 -6.7 -7.1 -7.9 12.5 5.1 -5.1 -3.4 0.7 24

 25 Agency- and GSE-backed securities 6.0 -2.2 -2.4 -2.6 4.2 1.7 -1.7 -1.1 -3.8 25

 26 Municipal securities 0.3 -4.0 1.1 -3.0 0.9 -3.2 -1.6 1.7 -11.9 26

 27 Mortgages 1.7 -8.4 -18.4 -7.7 -4.1 -1.6 -0.6 -0.8 -0.8 27

 28 Consumer credit 0.4 -6.5 4.3 -1.2 -2.1 -11.4 1.9 1.7 -5.6 28

 29 Mutual fund shares 0.7 23.6 -4.9 -16.5 35.3 11.1 -12.8 -0.1 0.9 29

 30 Trade receivables 277.6 -13.8 159.8 -169.6 -31.2 105.7 83.8 83.6 145.4 30

 31 U.S. direct investment abroad (4) 24.7 219.2 307.0 262.6 269.7 303.3 403.9 315.9 317.4 31

 32 Miscellaneous assets 417.7 502.0 629.3 -614.5 -167.9 214.8 23.6 229.0 291.3 32

 33 Insurance receivables 21.2 7.6 8.3 10.9 -4.0 11.7 10.1 7.6 -6.6 33

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

 35 Investment in finance co. subs. 64.4 22.9 -54.8 -1.1 -9.3 26.7 8.4 2.6 14.7 35

 36 Other 332.0 471.4 675.7 -624.3 -154.7 176.3 5.1 218.7 283.1 36

 37 Net increase in liabilities 965.4 839.1 1281.0 338.9 -248.7 487.6 894.3 1196.6 1144.2 37

 38 Net funds raised in markets -33.3 -108.7 -61.5 -57.4 -411.1 -326.0 -196.3 45.5 58.2 38

 39 Net new equity issues -300.2 -496.9 -713.0 -319.6 -52.5 -255.1 -456.7 -359.5 -373.3 39

 40 Credit market instruments 266.9 388.2 651.5 262.2 -358.6 -70.9 260.4 405.0 431.6 40

 41 Commercial paper -7.7 22.4 11.3 7.7 -73.1 24.5 33.4 14.0 14.2 41

 42 Municipal securities (5) 41.9 53.3 68.4 66.0 37.2 33.2 8.5 15.2 9.3 42

 43 Corporate bonds (4) -41.3 74.7 118.8 116.5 215.8 179.4 161.7 324.4 280.6 43

 44 Depository institution loans n.e.c. -27.1 22.0 96.3 64.2 -234.0 -87.0 68.9 80.4 46.6 44

 45 Other loans and advances (6) 110.1 127.9 287.5 68.0 -160.8 -90.4 60.2 -33.7 53.6 45

 46 Mortgages 191.1 87.8 69.2 -60.1 -143.7 -130.6 -72.3 4.6 27.2 46

 47 Trade payables 199.0 109.1 85.1 -225.2 -82.6 156.3 25.2 83.3 113.4 47

 48 Taxes payable -1.8 -0.8 -49.6 3.1 -3.3 7.2 8.8 2.3 -9.3 48

 49 Foreign direct investment in U.S. 98.7 192.0 212.1 189.6 104.6 157.0 192.7 170.1 207.1 49

 50 Miscellaneous liabilities 702.7 647.6 1094.9 428.8 143.6 493.1 863.9 895.4 774.8 50

 51 Pension fund contributions payable -1.9 -2.0 4.5 14.7 -8.6 15.4 3.0 -12.3 -0.6 51

 52 Claims of pension fund on sponsor 93.1 148.4 -4.9 123.4 82.8 -20.7 -16.8 8.4 12.1 52

 53 Other 611.5 501.1 1095.3 290.6 69.4 498.4 877.8 899.4 763.3 53

 54 Discrepancy 164.6 164.8 166.3 980.8 -135.6 296.1 797.5 792.7 491.0 54

 Memo:

 55 Financing gap (7) -145.9 122.9 217.4 154.4 -258.5 -244.0 -175.1 -81.7 -50.7 55

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

(2) Table F.9, line 58.

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

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

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

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

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
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16 Historical Annuals, 2005-2013, September 18, 2014

F.103 Nonfinancial Noncorporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving = consumption of fixed capital 224.5 243.6 257.6 269.0 270.7 270.9 269.1 275.9 286.0 1

 2 Gross saving less net capital transfers paid (1) 237.6 243.6 257.6 272.3 276.6 278.6 270.7 280.8 286.0 2

 3 Gross investment 237.6 243.6 257.6 272.3 276.6 278.6 270.7 280.8 286.0 3

 4 Capital expenditures 289.0 304.6 311.4 305.7 227.9 245.1 281.7 303.7 337.9 4

 5 Fixed investment (2) 281.9 299.3 308.1 308.0 244.7 241.5 274.8 300.7 320.6 5

 6 Change in inventories 7.1 5.3 3.3 -2.3 -16.8 3.6 6.8 3.0 17.4 6

 7 Net lending (+) or net borrowing (-) -51.4 -61.0 -53.8 -33.4 48.7 33.5 -11.0 -22.9 -51.9 7

 8 Net acquisition of financial assets 437.3 519.9 479.5 97.3 -117.1 152.0 16.6 74.1 35.4 8

 9 Checkable deposits and currency 76.7 74.7 66.9 3.8 14.9 -2.7 -2.4 14.9 -3.7 9

 10 Time and savings deposits 23.5 20.3 14.9 -1.2 -4.8 2.9 3.9 5.0 7.6 10

 11 Money market mutual funds 2.4 3.2 2.2 1.0 -1.7 3.1 0.8 1.1 1.6 11

 12 Credit market instruments 11.4 -0.1 10.0 -10.9 -6.7 6.6 1.0 1.3 2.0 12

 13 Treasury securities 6.0 0.2 3.0 -7.5 -5.7 1.9 0.5 0.7 1.0 13

 14 Municipal securities 0.1 1.3 -0.5 -0.4 0.2 0.5 0.1 0.1 0.1 14

 15 Mortgages 5.3 -1.5 7.4 -3.0 -1.2 4.2 0.5 0.6 0.9 15

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

 17 Trade receivables 66.6 40.0 54.7 -3.0 -26.3 37.0 5.8 7.5 11.4 17

 18 Miscellaneous assets 256.7 381.9 330.8 107.5 -92.5 105.0 7.4 44.4 16.4 18

 19 Insurance receivables 5.5 4.4 3.7 3.4 -9.8 29.9 -11.6 15.9 -27.4 19

 20 Equity investment in GSEs (3) -0.1 0.2 0.7 1.2 -0.0 0.4 0.3 0.2 0.6 20

 21 Other 251.2 377.2 326.4 102.9 -82.7 74.7 18.8 28.3 43.2 21

 22 Net increase in liabilities 488.7 580.9 533.3 130.7 -165.8 118.5 27.6 97.0 87.3 22

 23 Credit market instruments 341.8 415.4 463.2 325.5 -97.1 -19.4 42.7 87.9 115.0 23

 24 Depository institution loans n.e.c. 157.9 115.3 140.9 119.6 -102.0 -16.8 56.7 85.7 49.5 24

 25 Other loans and advances 6.4 16.8 13.7 12.3 -5.3 4.7 0.6 9.3 6.2 25

 26 Mortgages 177.5 283.3 308.7 193.7 10.2 -7.3 -14.6 -7.1 59.3 26

 27 Trade payables 49.7 14.3 26.0 5.8 16.9 30.3 7.9 1.2 6.9 27

 28 Taxes payable 8.7 9.0 3.8 6.7 -6.3 -0.7 1.2 2.0 3.1 28

 29 Foreign direct investment in U.S. 0.1 -0.9 -0.2 -0.2 0.1 0.3 0.0 0.6 0.5 29

 30 Miscellaneous liabilities 142.7 144.6 93.9 114.3 32.6 -50.9 34.4 17.4 4.8 30

 31 Proprietors’ net investment -54.2 -1.6 -53.5 -321.4 -112.1 158.9 -58.6 -12.2 -43.0 31

(1) Net capital transfers paid from table F.9, line 59.

(2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 16 respectively.

(3) Equity in the Farm Credit System.
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Historical Annuals, 2005-2013, September 18, 2014 17

F.104 State and Local Governments (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Current receipts, NIPA basis 1708.8 1810.9 1900.6 1909.1 1919.2 1998.5 2030.5 2061.2 2125.6 1

 2 Personal current taxes 276.4 302.5 323.5 333.5 287.8 297.6 324.1 354.7 375.0 2

 3 Taxes on production and imports 835.1 892.7 940.0 947.9 934.8 960.4 994.0 1017.0 1041.6 3

 4 Taxes on corporate income 54.9 59.2 57.9 47.4 45.6 47.7 50.2 53.2 55.3 4

 5 Contributions for govt. social insurance 24.6 21.5 18.9 18.7 18.6 18.1 18.2 17.7 17.7 5

 6 Income receipts on assets 88.6 107.2 117.9 105.7 87.8 82.6 79.2 78.6 79.7 6

 7 Current transfer receipts 436.4 438.9 460.9 477.8 566.1 612.0 582.1 556.2 570.8 7

 8 Current surplus of government enterprises -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -17.4 -16.2 -14.3 8

 9 Current expenditures, NIPA basis 1775.4 1850.3 1973.3 2074.1 2191.2 2235.8 2246.4 2293.8 2350.7 9

 10 Consumption expenditures 1256.6 1325.9 1411.4 1488.7 1508.4 1518.3 1524.8 1546.1 1584.5 10

 11 Govt. social benefit payments to persons 406.6 403.9 433.3 455.4 492.6 523.8 530.4 540.6 565.4 11

 12 Interest payments 111.8 120.1 121.5 127.0 188.8 192.1 190.7 206.6 200.3 12

 13 Subsidies 0.4 0.4 7.1 3.0 1.4 1.6 0.5 0.5 0.5 13

 14 Net saving, NIPA basis -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -232.6 -225.1 14

 15 + Consumption of fixed capital 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.8 238.4 15

 16 - Net capital transfers paid (2) -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.8 -74.2 -71.6 16

 17 = Gross saving less net capital transfers paid 141.1 188.7 173.2 98.3 4.0 52.2 80.1 73.5 84.9 17

 18 Gross investment 323.3 321.0 294.6 51.2 -63.2 53.8 34.5 106.0 64.0 18

 19 Fixed investment 290.8 314.3 340.8 358.8 363.0 351.9 340.5 331.6 327.8 19

 20 Nonproduced nonfinancial assets 10.0 11.0 13.6 13.8 12.3 10.6 9.2 8.7 9.0 20

 21 Net lending (+) or net borrowing (-) 22.6 -4.3 -59.8 -321.4 -438.5 -308.6 -315.2 -234.4 -272.8 21

 22 Net acq. of financial assets 253.9 205.8 240.4 -101.2 17.3 74.9 -13.0 99.3 18.0 22

 23 Checkable deposits and currency 15.8 5.4 -0.4 8.3 19.6 5.7 16.6 -9.4 6.7 23

 24 Time and savings deposits 3.0 17.1 32.8 17.8 10.0 -5.9 15.6 19.6 12.4 24

 25 Money market fund shares 13.6 15.4 18.0 2.8 10.0 14.1 3.7 7.9 4.7 25

 26 Security repurchase agreements 5.7 5.7 6.4 -11.9 -4.1 -1.1 -3.4 6.7 4.2 26

 27 Credit market instruments 170.3 126.4 156.0 -94.5 -32.4 67.4 -47.6 53.8 -29.6 27

 28 Open market paper -0.1 -1.4 -2.2 -21.9 -39.0 13.2 -11.1 -5.9 -8.1 28

 29 Treasury securities 107.3 58.4 77.8 -46.0 -16.9 7.8 -31.8 46.2 -14.5 29

 30 Agency- and GSE-backed securities 35.7 39.1 45.1 -17.7 10.3 23.7 -6.8 -2.3 -13.8 30

 31 Municipal securities 1.2 1.4 1.7 0.4 1.0 1.4 0.4 0.5 0.2 31

 32 Corporate and foreign bonds 11.5 12.7 14.6 -5.4 3.5 7.8 -0.5 6.0 2.5 32

 33 Mortgages 14.6 16.1 19.0 -4.0 8.6 13.5 2.2 9.4 4.2 33

 34 Corporate equities 4.4 4.5 5.1 -7.7 -2.2 -0.0 -2.5 3.2 1.3 34

 35 Mutual fund shares 3.5 3.9 4.5 -0.6 1.7 2.9 0.3 1.6 0.7 35

 36 Trade receivables 17.4 8.9 7.8 -15.4 -4.6 13.1 2.3 5.7 8.4 36

 37 Taxes receivable 14.3 12.1 3.0 5.2 -5.8 1.0 2.0 2.0 3.1 37

 38 Miscellaneous assets 6.0 6.4 7.3 -5.2 25.3 -22.2 -0.1 8.1 6.2 38

 39 Net increase in liabilities 231.3 210.1 300.2 220.2 455.9 383.5 302.2 333.7 290.8 39

 40 Credit market instruments 141.7 100.9 146.7 17.9 113.0 69.5 -52.7 -5.3 -38.9 40

 41 Municipal securities 141.1 100.3 146.0 17.1 112.2 68.7 -53.6 -5.7 -39.4 41

 42 Short-term (3) -1.7 -8.2 16.8 4.6 7.8 -0.7 -10.6 3.8 -10.9 42

 43 Long-term 142.8 108.5 129.2 12.5 104.4 69.3 -42.9 -9.4 -28.6 43

 44 U.S. government loans 0.6 0.6 0.7 0.8 0.8 0.9 0.9 0.4 0.5 44

 45 Trade payables 31.9 34.3 36.7 38.6 38.9 38.5 38.4 38.8 39.6 45

 46 Claims of pension fund on sponsor (4) 57.7 74.9 116.8 163.7 303.9 275.5 316.5 300.2 290.0 46

 47 Discrepancy -182.3 -132.3 -121.4 47.1 67.2 -1.7 45.6 -32.5 20.9 47

(1) Data for employee retirement funds are shown in table F.118.

(2) Table F.9, line 62.

(3) Debt with original maturity of 13 months or less.

(4) Included in miscellaneous liabilities.
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18 Historical Annuals, 2005-2013, September 18, 2014

F.105 Federal Government

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Current receipts, NIPA basis 2298.1 2531.7 2660.8 2503.7 2227.8 2391.7 2519.5 2684.1 3113.0 1

 2 Personal current taxes 932.1 1049.6 1164.4 1101.7 857.2 893.8 1076.6 1149.0 1286.8 2

 3 Taxes on production and imports 99.4 99.2 94.6 94.0 91.4 96.8 108.6 115.0 120.9 3

 4 Taxes on corporate income 341.0 395.0 362.8 233.7 200.4 298.7 299.4 369.5 384.9 4

 5 Taxes from the rest of the world 12.1 14.6 15.3 18.8 14.8 15.7 16.7 18.0 19.2 5

 6 Contributions for govt. social insurance 853.4 905.7 947.2 974.4 950.8 970.9 904.0 938.1 1092.3 6

 7 Income receipts on assets 27.2 29.0 33.4 33.9 48.5 54.6 56.4 53.6 164.7 7

 8 Current transfer receipts 32.0 36.8 41.0 46.5 64.0 64.4 65.0 49.9 59.5 8

 9 Current surplus of government enterprises 0.9 1.8 2.0 0.8 0.7 -3.1 -7.1 -9.1 -15.3 9

 10 Current expenditures, NIPA basis 2602.8 2758.8 2926.4 3137.7 3476.6 3720.5 3763.7 3763.2 3762.1 10

 11 Consumption expenditures 723.4 763.9 798.4 879.8 933.7 1003.9 1006.1 1003.6 963.0 11

 12 Government social benefits 1090.9 1196.7 1272.2 1407.4 1624.9 1726.6 1744.4 1785.1 1825.6 12

 13 Other current transfer payments 383.5 374.7 400.2 412.9 507.5 555.0 528.0 493.2 496.3 13

 14 Interest payments 344.4 372.3 408.2 388.0 353.6 380.6 425.7 423.8 417.4 14

 15 Subsidies 60.5 51.1 47.5 49.6 56.9 54.3 59.5 57.6 59.7 15

 16 Net saving, NIPA basis -304.7 -227.0 -265.6 -634.0 -1248.8 -1328.7 -1244.1 -1079.1 -649.1 16

 17 + Consumption of fixed capital 189.4 200.7 212.8 226.3 234.5 245.3 257.4 264.1 268.0 17

 18 - Insurance and pension reserves (1) 0.7 0.1 0.1 -0.6 0.5 -1.7 -0.4 -1.4 -1.2 18

 19 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.7 4.6 4.7 4.8 5.0 4.9 4.4 4.6 5.4 19

 20 - Net capital transfers paid (2) 60.3 43.2 53.0 49.9 64.4 84.8 81.5 80.0 58.4 20

 21 = Gross saving less net capital transfers paid -181.1 -74.2 -110.7 -461.8 -1084.1 -1171.4 -1072.2 -898.2 -443.7 21

 22 Gross investment -201.9 -86.7 -142.5 -533.6 -1023.1 -1115.9 -1055.9 -833.4 -397.2 22

 23 Fixed investment 222.9 238.0 251.4 275.8 284.0 300.0 297.4 287.8 268.5 23

 24 Nonproduced nonfinancial assets -2.0 -14.4 -3.3 -20.4 -8.9 -1.0 -0.9 -1.9 -2.4 24

 25 Net lending (+) or net borrowing (-) -422.8 -310.4 -390.6 -789.0 -1298.2 -1414.9 -1352.4 -1119.3 -663.3 25

 26 Net acq. of financial assets 30.8 -14.4 0.6 580.0 237.8 281.9 -150.7 132.4 217.4 26

 27 U.S. official reserve assets -14.4 -2.7 -0.4 4.2 51.9 1.6 16.2 4.3 -3.3 27

 28 Checkable deposits and currency 12.2 -2.7 25.1 313.1 -174.2 148.9 -257.6 6.7 69.6 28

 29 Time and savings deposits -1.0 0.2 1.2 -1.3 0.3 0.1 -0.3 0.2 -0.5 29

 30 Credit market instruments -3.1 5.9 6.8 93.4 309.2 84.5 18.3 104.9 124.2 30

 31 Agency- and GSE-backed securities 0.0 0.0 0.0 54.4 142.0 -47.2 -118.1 -31.1 0.0 31

 32 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.6 0.3 -0.1 -0.2 -0.1 32

 33 Other loans and advances -9.2 0.5 -2.3 6.1 66.2 3.6 4.8 2.4 7.2 33

 34 Mortgages 2.4 3.7 2.1 13.5 12.6 -5.4 3.3 1.6 4.0 34

 35 Consumer credit (3) 3.7 1.6 7.0 19.5 87.9 133.1 128.5 132.1 113.1 35

 36 Corporate equities (4) 0.0 0.0 0.0 256.3 0.6 24.1 40.3 -13.2 -4.8 36

 37 Trade receivables 9.2 -11.6 1.2 4.2 -21.1 -0.7 4.8 2.6 -1.5 37

 38 Taxes receivable 26.0 -6.5 -35.4 -62.0 35.9 27.1 25.6 27.9 27.8 38

 39 Miscellaneous assets 1.9 3.1 2.0 -28.0 35.2 -3.6 2.0 -1.0 5.9 39

 40 Net increase in liabilities 453.6 296.0 391.2 1369.0 1536.0 1696.8 1201.7 1251.6 880.7 40

 41 SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 41

 42 SDR certificates 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 42

 43 Treasury currency 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 0.0 -0.4 43

 44 Credit market instruments 306.9 183.4 237.1 1239.2 1443.9 1580.2 1067.9 1140.2 759.1 44

 45 U.S. savings securities 0.7 -2.7 -6.0 -2.4 -2.8 -3.3 -2.7 -2.8 -3.3 45

 46 Treasury bills -40.5 -19.9 58.8 861.6 -73.3 -19.0 -249.5 107.0 -35.9 46

 47 Other Treasury securities 347.1 206.4 184.7 379.7 1519.8 1601.8 1319.0 1036.3 798.7 47

 48 Budget agency securities -0.4 -0.3 -0.4 0.2 0.1 0.7 1.1 -0.4 -0.4 48

 49 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 Trade payables 33.7 6.2 29.3 22.6 -56.2 5.2 8.8 15.4 16.8 50

 51 Insurance reserves 1.1 1.5 1.2 1.0 1.1 0.9 1.3 0.3 0.3 51

 52 Miscellaneous liabilities 111.1 104.3 124.3 107.1 97.0 110.7 123.7 95.7 104.8 52

 53 Nonmarketable securities held by pension plans (5) 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 98.2 53

 54 Claims of pension fund on sponsor 43.1 44.9 47.7 17.6 15.6 20.2 20.8 50.3 -6.8 54

 55 Other 28.1 23.6 43.3 26.2 19.5 24.9 32.1 5.0 13.4 55

 56 Discrepancy 20.9 12.5 31.9 71.8 -61.0 -55.5 -16.3 -64.7 -46.4 56

 Memo:

 57 Change in cash balance (6) 4.6 -5.5 27.5 308.6 -173.2 148.9 -258.0 7.5 69.6 57

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

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

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

 the government purchased from depository institutions and finance companies.

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

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

 and foreign service retirement and disability fund.

(6) Time and savings deposits (line 29) plus checkable deposits and currency at the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
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Historical Annuals, 2005-2013, September 18, 2014 19

F.106 Rest of the World

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Foreign income from U.S. 2627.5 3004.6 3257.9 3385.0 2613.9 3020.3 3379.5 3470.2 3494.8 1

 2 U.S. imports 2030.1 2247.3 2383.2 2565.0 1983.2 2365.0 2686.4 2762.5 2770.4 2

 3 U.S. income payments to rest of world 483.2 656.6 750.1 684.9 497.8 514.1 546.0 566.5 586.1 3

 4 Current taxes and trans. payments to rest of world 114.2 100.7 124.7 135.1 132.9 141.2 147.2 141.3 138.3 4

 5 Foreign outlays to U.S. 1884.7 2200.6 2540.3 2698.9 2236.6 2572.4 2899.0 2988.0 3072.6 5

 6 U.S. exports 1308.9 1476.3 1664.6 1841.9 1587.7 1852.3 2106.4 2194.2 2262.2 6

 7 U.S. income receipts from rest of world 575.8 724.2 875.7 856.9 648.9 720.0 792.6 793.8 810.4 7

 8 - Net capital transfers paid (1) 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 6.5 -0.8 8

 9 Gross saving less net capital transfers paid (2) 730.1 806.0 718.0 680.7 377.8 448.6 482.1 475.7 423.0 9

 10 Gross investment 698.6 529.8 152.0 765.2 28.0 268.2 416.7 446.5 350.9 10

 11 Nonproduced nonfinancial assets 0.1 -0.1 0.5 -0.0 0.0 -0.0 -0.0 -0.1 0.0 11

 12 Net lending (+) or net borrowing (-) 698.5 529.8 151.5 765.2 28.0 268.2 416.7 446.6 350.8 12

 13 Net acquisition of financial assets 1048.2 1479.7 1470.6 666.8 201.0 1087.5 1049.7 832.9 1170.6 13

 14 Monetary gold (3) 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 47.6 0.0 0.0 0.0 0.0 15

 16 Net interbank assets -10.6 5.3 -109.5 355.4 -201.9 -61.8 213.9 -136.0 294.7 16

 17 U.S. checkable deposits and currency 14.9 11.4 -5.4 64.0 -9.2 29.5 81.8 68.2 49.9 17

 18 U.S. time deposits 20.6 34.0 36.7 73.4 -73.3 4.9 47.3 37.9 50.1 18

 19 Money market fund shares 0.1 4.1 19.0 23.7 7.2 -7.1 4.6 22.6 16.4 19

 20 Security repurchase agreements 41.4 59.7 72.6 -629.7 -54.8 92.4 92.6 -6.6 62.1 20

 21 Credit market instruments 768.5 974.9 958.9 360.0 116.5 619.2 237.4 443.5 551.1 21

 22 Open market paper 20.8 54.9 16.5 -59.0 -48.4 -10.7 0.7 -0.1 -1.4 22

 23 Treasury securities 245.1 150.3 165.3 711.6 554.4 740.4 355.3 589.7 431.3 23

 24 Treasury bills -58.9 -11.4 49.4 455.3 -7.6 -40.2 -62.6 14.0 24.4 24

 25 Other Treasury securities 304.1 161.7 115.9 256.3 562.0 780.5 417.9 575.8 406.9 25

 26 Agency- and GSE-backed securities 139.8 217.1 239.5 -231.9 -226.0 -66.6 -41.6 -73.6 -84.7 26

 27 Municipal securities 3.0 5.4 10.7 5.9 7.7 13.1 0.6 -0.6 4.3 27

 28 U.S. corporate bonds (4) 328.5 541.0 424.6 -21.8 -127.3 -36.8 -111.5 -19.7 205.2 28

 29 Loans to U.S. corporate business 31.3 6.2 102.3 -44.7 -44.0 -20.2 33.9 -52.2 -3.5 29

 30 U.S. corporate equities 83.6 118.7 243.9 130.0 192.7 127.8 44.0 126.8 -74.8 30

 31 Mutual fund shares 5.6 22.7 12.7 -26.9 19.4 58.2 74.7 89.7 -27.0 31

 32 Trade receivables 11.6 5.7 20.6 6.7 6.3 18.6 17.1 11.6 11.9 32

 33 Foreign direct investment in U.S. (5) 112.6 243.2 221.2 310.1 150.4 205.9 236.1 175.2 236.3 33

 34 Net increase in liabilities 349.7 949.8 1319.0 -98.4 173.0 819.3 633.0 386.3 819.7 34

 35 U.S. official reserve assets -14.1 -2.4 0.1 4.8 52.3 1.8 15.9 4.5 -3.1 35

 36 U.S. private deposits 21.9 180.5 294.5 -331.0 -43.9 71.6 -215.0 -144.0 32.7 36

 37 Security repurchase agreements -7.1 55.9 123.2 -382.8 86.0 207.9 96.4 40.4 -83.5 37

 38 Credit market instruments 103.9 286.7 260.9 -198.2 222.2 149.0 172.8 188.6 268.8 38

 39 Commercial paper 38.6 98.4 -69.3 -71.0 59.4 -2.7 -53.5 27.9 34.0 39

 40 Bonds 54.8 178.9 304.1 -140.8 177.2 127.4 181.7 124.7 194.4 40

 41 Depository institution loans n.e.c. 17.3 16.9 29.4 15.1 -14.8 24.0 43.2 30.4 39.1 41

 42 Other loans and advances -6.8 -7.4 -3.3 -1.5 0.5 0.3 1.4 5.6 1.4 42

 43 Foreign corporate equities (6) 186.7 137.3 147.8 -38.6 63.7 79.2 7.0 103.3 275.2 43

 44 Trade payables 1.3 3.5 10.7 -3.7 0.5 6.0 4.0 0.7 3.4 44

 45 U.S. direct investment abroad (4,5) 36.2 244.9 414.0 329.1 310.4 301.1 419.1 333.0 349.5 45

 46 Miscellaneous liabilities 20.9 43.3 67.8 522.0 -518.3 2.7 132.9 -140.0 -23.3 46

 47 U.S. equity in IBRD, etc. 1.3 2.0 1.7 1.4 1.7 2.3 2.6 2.4 2.2 47

 48 Nonofficial foreign currencies 0.0 0.0 24.0 529.7 -543.5 -10.2 99.7 -90.9 -8.6 48

 49 Investment by holding companies 19.6 41.3 42.2 -9.1 23.5 10.6 30.6 -51.5 -16.9 49

 50 Discrepancy (FOF basis) 31.5 276.3 566.0 -84.5 349.8 180.3 65.5 29.1 72.2 50

 Memo:

 51 Net U.S. exports, NIPA basis -721.2 -770.9 -718.5 -723.1 -395.4 -512.7 -580.0 -568.3 -508.2 51

 52 + Net U.S. income receipts (7) 92.6 67.6 125.6 172.0 151.0 206.0 246.6 227.4 224.3 52

 53 - Current taxes and trans. payments to rest of world 114.2 100.7 124.7 135.1 132.9 141.2 147.2 141.3 138.3 53

 54 = Balance on current account, NIPAs -742.9 -804.0 -717.6 -686.1 -377.3 -447.9 -480.5 -482.2 -422.2 54

(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 54 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) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
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20 Historical Annuals, 2005-2013, September 18, 2014

F.107 Financial Business (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving less net capital transfers paid 188.7 212.2 108.8 27.8 337.0 371.1 315.5 306.1 281.8 1

 2 Gross investment 523.7 447.7 322.0 36.0 197.0 140.3 202.8 312.8 378.4 2

 3 Capital expenditures 182.4 192.2 202.2 196.3 167.5 166.8 173.9 195.5 216.2 3

 4 Fixed residential investment 2.5 3.5 -9.3 0.1 0.7 4.0 6.5 5.3 14.7 4

 5 Fixed nonresidential investment 180.0 188.7 211.5 196.2 166.9 162.8 167.5 190.2 201.5 5

 6 Net lending (+) or net borrowing (-) 341.3 255.5 119.7 -160.3 29.5 -26.5 28.8 117.3 162.2 6

 7 Net acqisition of financial assets 3771.1 4626.7 5484.2 3799.7 -1278.3 2.2 2137.5 1824.9 3545.8 7

 8 U.S. official reserve assets 0.3 0.3 0.5 0.6 0.3 0.3 -0.3 0.2 0.2 8

 9 SDR certificates 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 9

 10 Treasury currency 0.1 1.7 0.5 -0.0 4.0 0.9 0.7 0.6 0.7 10

 11 Foreign deposits 7.7 -10.0 34.4 -14.6 11.6 8.7 -62.9 0.4 -9.6 11

 12 Net interbank assets 3.5 0.1 54.2 1351.5 -349.5 -106.9 603.0 -64.1 760.1 12

 13 Checkable deposits and currency -57.0 51.4 32.4 66.6 -30.4 -32.3 37.2 10.1 -2.9 13

 14 Time and savings deposits 32.4 31.4 95.2 122.0 128.6 -109.1 -47.1 7.4 82.3 14

 15 Money market fund shares 12.0 -6.6 331.2 283.6 -175.4 -172.6 -71.3 -51.6 -56.0 15

 16 Federal funds and security repos 287.4 180.8 565.2 -498.1 -495.4 270.8 117.8 263.6 -375.6 16

 17 Credit market instruments 2403.4 2924.6 2967.9 1859.3 -807.6 -35.5 1148.2 1273.2 1885.5 17

 18 Open market paper 193.8 232.9 -120.5 5.7 -389.8 -93.3 -76.0 -2.2 34.3 18

 19 Treasury securities 52.1 85.2 36.4 442.6 366.3 504.0 977.2 295.6 529.1 19

 20 Agency- and GSE-backed securities -249.9 97.2 283.5 726.9 680.6 52.2 158.7 222.1 436.5 20

 21 Municipal securities 115.7 131.2 184.7 42.2 38.4 44.2 13.4 138.3 7.4 21

 22 Corporate and foreign bonds 490.1 519.3 564.8 -444.2 -30.2 210.6 130.9 405.7 381.0 22

 23 Depository institution loans n.e.c. 163.9 187.0 337.5 699.9 -758.5 -92.2 146.6 186.1 186.1 23

 24 Other loans and advances 129.9 156.6 419.1 145.5 -463.8 -209.7 -30.9 38.7 133.4 24

 25 Mortgages 1411.6 1400.2 1130.8 231.3 -66.7 -314.7 -153.7 -55.7 104.2 25

 26 Consumer credit 96.3 115.0 131.6 9.6 -183.7 -136.7 -17.9 44.7 73.4 26

 27 Corporate equities 289.5 185.5 430.9 223.5 155.0 84.6 -58.9 36.6 203.0 27

 28 Mutual fund shares 54.0 104.0 101.8 56.6 64.5 16.0 -57.1 -73.1 21.7 28

 29 Trade receivables -0.4 13.4 1.8 -14.9 -38.0 -8.6 -0.8 -1.6 -2.2 29

 30 Security credit -24.4 70.7 37.4 -173.3 30.3 81.4 -8.3 55.7 45.9 30

 31 Life insurance reserves 0.0 7.9 16.2 5.3 2.8 8.2 7.7 14.7 10.8 31

 32 U.S. direct investment abroad 11.5 25.8 107.0 66.4 40.7 -2.3 15.2 17.1 32.1 32

 33 Miscellaneous assets 750.8 1045.7 707.5 465.1 177.1 -1.3 514.6 335.8 949.7 33

 34 Net increase in liabilities 3429.8 4371.2 5364.4 3960.0 -1307.8 28.7 2108.6 1707.6 3383.6 34

 35 Net interbank liabilities -6.2 4.7 -50.1 1751.8 -536.9 -142.8 820.5 -194.5 1111.6 35

 36 Checkable deposits and currency 4.4 -19.9 36.7 568.4 -7.9 266.3 234.5 267.7 332.6 36

 37 Time and savings deposits 609.9 636.1 608.8 342.4 343.7 115.6 404.1 520.4 409.1 37

 38 Money market fund shares 125.1 303.1 736.8 724.2 -498.7 -503.2 -112.8 7.1 28.7 38

 39 Federal funds and security repos 470.8 541.3 426.5 -1393.6 -346.6 421.3 276.2 251.3 -477.1 39

 40 Credit market instruments 1113.7 1336.3 1833.0 978.4 -1663.3 -899.8 -339.8 -417.6 213.7 40

 41 Open market paper 214.2 196.4 -111.5 -125.4 -448.1 -102.2 -68.2 -58.8 -48.9 41

 42 Agency- and GSE-backed securities 80.4 328.2 905.7 768.7 -60.1 -46.9 -21.9 -22.4 239.9 42

 43 Corporate and foreign bonds 745.2 795.3 728.2 -201.4 -448.4 -544.3 -235.8 -223.5 -84.3 43

 44 Depository institution loans n.e.c. 15.5 -11.5 80.1 496.4 -435.9 -62.5 32.6 -121.2 20.9 44

 45 Other loans and advances 44.4 21.2 225.8 33.3 -282.6 -144.7 -60.0 3.5 78.3 45

 46 Mortgages 14.1 6.6 4.7 6.8 11.8 0.8 13.5 4.8 7.8 46

 47 Corporate equities 78.4 60.0 179.6 639.2 315.9 191.4 164.1 168.3 163.5 47

 48 Mutual fund shares 260.2 336.8 361.5 -9.9 497.1 370.1 338.4 624.9 638.8 48

 49 Trade payables 7.0 5.2 -2.4 -24.7 48.9 -52.0 -3.8 -0.0 0.3 49

 50 Security credit -4.5 88.2 220.4 -192.2 -43.5 29.8 31.9 32.8 68.9 50

 51 Life insurance reserves 14.0 64.1 33.2 64.2 26.3 13.6 79.9 -12.2 29.8 51

 52 Pension entitlements 598.0 602.5 620.9 552.5 397.6 595.8 499.2 497.9 494.9 52

 53 Taxes payable -11.6 14.3 -23.5 -133.6 6.1 13.0 10.7 6.9 17.7 53

 54 Equity in noncorporate business -1.2 -6.8 3.6 11.6 0.6 0.9 -2.9 6.7 -3.9 54

 55 Foreign direct investment in U.S. 13.9 52.0 9.3 120.7 45.7 48.5 43.4 4.5 28.7 55

 56 Miscellaneous liabilities 150.8 409.2 493.6 -422.2 193.4 -231.8 -238.5 -16.3 242.9 56

 57 Discrepancy -335.0 -235.5 -213.1 -8.2 140.0 230.8 112.7 -6.7 -96.6 57

(1) Sum of financial sectors shown on tables F.108 through F.130.
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Historical Annuals, 2005-2013, September 18, 2014 21

F.108 Monetary Authority (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 5.2 4.7 1.2 3.0 -0.7 -8.5 -0.2 -17.5 -0.8 1

 2 Fixed nonresidential investment 0.6 0.8 0.9 0.7 0.8 0.7 0.6 0.8 0.9 2

 3 Net acquisition of financial assets 37.4 29.6 43.1 1319.3 -3.4 186.0 494.0 7.7 1118.8 3

 4 U.S. official reserve assets 0.3 0.3 0.5 0.6 0.3 0.3 -0.3 0.2 0.2 4

 5 SDR certificates 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency 0.1 1.7 0.5 -0.0 4.0 0.9 0.7 0.6 0.7 6

 7 Federal Reserve float (2) -0.0 -1.2 0.3 -1.5 -0.6 0.7 0.8 0.1 -0.5 7

 8 Interbank loans (2) 0.0 -0.0 48.6 511.1 -463.1 -96.4 -0.0 -0.1 0.0 8

 9 Discount window (3) 0.0 -0.0 48.6 495.4 -447.4 -96.4 -0.0 -0.1 0.0 9

 10 AMLF (4) 0.0 0.0 0.0 15.7 -15.7 0.0 0.0 0.0 0.0 10

 11 Security repurchase agreements 13.8 -6.0 5.8 33.5 -80.0 0.0 0.0 0.0 0.0 11

 12 Credit market instruments 26.4 34.7 -38.3 245.4 1001.6 271.5 376.5 34.5 1086.1 12

 13 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Treasury securities 26.4 34.7 -38.3 -264.7 300.7 244.9 642.0 2.7 542.6 14

 15 Treasury bills 8.3 5.7 -49.2 -209.4 0.0 0.0 0.0 -18.4 0.0 15

 16 Other Treasury securities 18.1 29.0 10.9 -55.3 300.7 244.9 642.0 21.1 542.6 16

 17 Agency- and GSE-backed securities 0.0 0.0 0.0 19.7 1048.5 71.4 -197.9 61.8 543.9 17

 18 Mortgage-backed securities 0.0 0.0 0.0 0.0 908.4 83.8 -154.5 89.0 563.5 18

 19 Other agency- and GSE-baked securities 0.0 0.0 0.0 19.7 140.2 -12.4 -43.5 -27.2 -19.6 19

 20 Depository institution loans n.e.c. 0.0 0.0 0.0 490.4 -347.6 -44.8 -67.6 -29.9 -0.5 20

 21 Households (TALF) (5) 0.0 0.0 0.0 0.0 47.5 -22.8 -15.7 -8.5 -0.5 21

 22 Rest of world 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 45.5 -45.5 0.0 0.0 0.0 0.0 23

 24 Funding corporations (Maiden Lane) (7) 0.0 0.0 0.0 29.1 0.1 -3.4 -21.0 -4.9 0.0 24

 25 Funding corporations (AIG) 0.0 0.0 0.0 38.9 -16.7 -2.2 -20.0 0.0 0.0 25

 26 Funding corporations (Maiden Lane II) (8) 0.0 0.0 0.0 19.5 -3.5 -2.5 -6.7 -6.8 0.0 26

 27 Funding corporations (Maiden Lane III) (9) 0.0 0.0 0.0 24.4 -5.9 -4.4 -4.2 -9.8 0.0 27

 28 Funding corporations (CPFF) (10) 0.0 0.0 0.0 333.0 -323.6 -9.4 0.0 0.0 0.0 28

 29 Corporate equities (11) 0.0 0.0 0.0 0.0 25.1 1.3 -26.4 0.0 0.0 29

 30 Miscellaneous assets -3.2 0.1 25.8 530.2 -493.8 7.8 142.9 -27.6 32.3 30

 31 Nonofficial foreign currencies (12) 0.0 0.0 24.0 529.7 -543.5 -10.2 99.7 -90.9 -8.6 31

 32 Other -3.2 0.1 1.8 0.5 49.6 18.0 43.1 63.4 40.9 32

 33 Net increase in liabilities 36.1 27.2 39.9 1316.7 -8.0 185.1 493.7 7.3 1118.7 33

 34 Depository institution reserves -5.0 -0.3 2.1 839.2 117.0 -8.9 594.2 -71.2 758.0 34

 35 Vault cash of depository institutions 8.6 1.6 3.3 2.7 -2.8 -2.2 8.1 7.1 2.6 35

 36 Checkable deposits and currency 30.1 23.5 17.8 428.2 -117.6 185.0 -122.1 62.1 139.5 36

 37 Due to federal government -1.4 0.2 11.4 349.3 -173.8 149.0 -255.0 7.0 69.8 37

 38 Treasury cash holdings -0.1 0.1 0.0 0.0 -0.0 -0.1 -0.0 0.0 0.1 38

 39 Treasury general deposit account -1.3 0.1 11.4 90.0 80.5 -45.9 -55.0 7.0 69.7 39

 40 Treasury temporary supplementary financing account 0.0 0.0 0.0 259.3 -254.3 195.0 -200.0 0.0 0.0 40

 41 Due to rest of the world 0.0 0.0 -0.0 1.3 1.0 0.9 -3.2 6.3 1.5 41

 42 Due to government-sponsored enterprises 0.9 -1.2 0.9 19.4 14.0 -21.6 51.1 -37.4 -1.3 42

 43 Currency outside banks 30.6 24.5 5.5 58.2 41.2 56.7 85.0 86.2 69.5 43

 44 Security repurchase agreements -0.3 -0.9 14.4 44.4 -10.6 -18.0 40.2 7.3 208.7 44

 45 Miscellaneous liabilities 2.8 3.2 2.5 2.2 6.1 29.2 -26.7 2.0 9.8 45

 46 Federal Reserve Bank stock 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 0.1 46

 47 Other 1.1 1.4 -0.7 -0.5 1.5 28.3 -27.1 1.5 9.7 47

 48 Discrepancy 3.3 1.5 -2.8 -0.3 -6.0 -10.0 -1.2 -18.8 -1.9 48

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table F.203.

(3) Federal Reserve loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF.

(7) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(8) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(9) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(10) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(11) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.
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22 Historical Annuals, 2005-2013, September 18, 2014

F.109 Private Depository Institutions (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving less net capital transfers paid (2) 12.7 -9.5 -29.5 36.5 92.2 144.6 75.8 15.8 15.5 1

 2 Fixed nonresidential investment 48.4 52.1 54.9 55.5 53.4 41.5 30.0 33.6 35.7 2

 3 Net lending (+) or net borrowing (-) 190.3 125.2 87.6 55.0 -302.5 -58.7 -34.2 -73.3 71.6 3

 4 Net acquisition of financial assets 966.7 943.7 1084.7 1174.6 -686.6 -227.4 820.7 498.1 992.3 4

 5 Vault cash 8.6 1.6 3.3 2.7 -2.8 -2.2 8.1 7.1 2.6 5

 6 Reserves at Federal Reserve -5.0 -0.3 2.1 839.2 117.0 -8.9 594.2 -71.2 758.0 6

 7 Federal funds and security repos 20.1 128.8 157.4 -125.1 -308.1 20.9 22.5 113.0 -98.7 7

 8 Credit market instruments 885.2 792.1 831.2 434.9 -536.6 -139.5 249.9 476.7 296.7 8

 9 Open market paper -0.0 0.2 -0.5 15.3 -15.7 0.0 0.0 0.0 0.0 9

 10 Treasury securities -7.0 0.6 10.4 -20.8 94.7 103.0 -46.7 86.6 -35.1 10

 11 Agency- and GSE-backed securities 46.0 18.7 -115.8 142.2 172.6 138.5 133.6 49.7 42.4 11

 12 Municipal securities 18.5 25.1 12.6 20.4 3.4 29.3 46.8 68.0 55.1 12

 13 Corporate and foreign bonds 145.0 106.9 232.9 -39.3 -137.8 -124.7 4.3 -13.8 -16.2 13

 14 Depository institution loans n.e.c. 163.9 187.0 337.5 209.5 -410.9 -47.4 214.1 216.0 186.6 14

 15 Other loans and advances 0.0 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 15

 16 Mortgages 485.2 394.3 295.4 38.3 -179.4 -157.2 -105.8 21.7 -11.0 16

 17 Consumer credit 33.8 59.6 58.6 69.7 -63.6 -81.0 3.6 48.7 74.9 17

 18 Corporate equities -0.9 -0.4 1.4 0.9 6.3 -1.7 0.9 -10.5 0.8 18

 19 Mutual fund shares -2.8 3.8 3.6 1.3 14.1 -5.6 -0.5 -0.7 1.5 19

 20 Security credit 7.2 11.1 4.0 -12.7 -7.8 6.2 31.0 -9.2 10.4 20

 21 Life insurance reserves 0.0 8.2 10.9 6.4 0.8 4.5 5.2 7.4 5.7 21

 22 U.S. direct investment abroad 0.5 -1.7 32.8 17.6 -0.8 2.7 -6.2 -2.6 3.5 22

 23 Miscellaneous assets 53.7 0.6 38.1 9.2 31.3 -103.6 -84.6 -12.0 11.7 23

 24 Net increase in liabilities 776.4 818.5 997.1 1119.5 -384.1 -168.7 855.0 571.4 920.7 24

 25 Net interbank liabilities -9.7 3.4 -55.5 909.8 -651.1 -131.7 218.2 -130.3 351.0 25

 26 Checkable deposits -25.6 -43.5 18.9 140.2 109.7 81.3 356.7 205.6 193.1 26

 27 Small time and savings deposits 314.4 347.0 316.4 524.8 517.2 298.3 577.4 539.6 307.0 27

 28 Large time deposits 295.4 289.2 292.3 -182.4 -173.6 -182.7 -173.3 -19.2 102.1 28

 29 Federal funds and security repos 83.2 84.3 34.5 -164.0 -133.9 6.7 -27.2 -32.0 -97.0 29

 30 Credit market instruments 57.5 47.9 236.0 7.2 -306.3 -218.0 -52.4 -109.9 -31.5 30

 31 Open market paper 0.0 -0.2 -0.1 0.0 0.1 -20.1 7.6 -33.1 -27.8 31

 32 Corporate bonds 13.5 29.6 24.8 0.1 -28.5 -49.2 2.4 -82.3 -74.9 32

 33 Other loans and advances 43.9 18.5 211.2 7.1 -278.0 -148.7 -62.5 5.6 71.2 33

 34 Corporate equity issues 8.4 10.2 7.5 12.1 11.6 11.9 6.4 1.6 2.2 34

 35 Taxes payable (net) -7.8 -1.4 -15.6 -86.0 7.3 6.6 10.6 7.0 0.1 35

 36 Foreign direct investment in U.S. 9.4 13.8 -0.8 24.8 16.6 12.4 26.0 -0.8 4.0 36

 37 Miscellaneous liabilities 51.2 67.8 163.2 -67.0 218.3 -53.5 -87.4 109.8 89.6 37

 38 Investment by holding companies 27.9 97.2 114.0 113.6 166.8 33.4 76.1 101.2 59.3 38

 39 Investment by funding corporations 21.0 8.6 43.7 35.6 -73.5 -31.5 -33.7 -11.8 -2.5 39

 40 Other 2.3 -37.9 5.6 -216.2 125.0 -55.4 -129.8 20.4 32.9 40

 41 Discrepancy -226.0 -186.9 -172.1 -74.0 341.3 161.9 80.0 55.5 -91.8 41

 Memo:

 42 Consumer leases not included above (3) 0.0 0.0 -1.8 -1.7 -2.6 -0.8 -0.1 0.4 1.5 42

(1) U.S.-chartered depository institutions (F.110), foreign banking offices (F.111), banks in U.S.-affiliated areas (F.112), and credit unions (F.113).

(2) Net capital transfers paid from table F.9, line 54.

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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Historical Annuals, 2005-2013, September 18, 2014 23

F.110 U.S.-Chartered Depository Institutions

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving less net capital transfers paid (1) 0.3 -22.3 -41.5 27.5 83.3 133.8 62.7 0.4 -0.5 1

 2 Fixed nonresidential investment 41.5 44.1 47.6 48.9 47.8 36.8 25.0 27.8 28.8 2

 3 Net acquisition of financial assets 722.2 738.9 810.7 979.7 -489.2 -338.9 302.9 470.6 633.8 3

 4 Vault cash 8.6 1.6 3.3 2.7 -2.8 -2.2 8.1 7.1 2.5 4

 5 Reserves at Federal Reserve -5.1 0.1 1.8 597.7 44.4 -85.6 222.9 -0.2 454.4 5

 6 Federal funds and security repos -20.9 71.1 142.8 54.9 -308.2 0.7 -25.0 61.1 -87.9 6

 7 Credit market instruments 692.8 658.4 597.5 292.8 -280.4 -120.7 173.7 424.0 253.5 7

 8 Open market paper 0.0 0.0 0.0 15.7 -15.7 0.0 0.0 0.0 0.0 8

 9 Treasury securities -6.1 2.2 5.6 -23.7 68.1 93.0 -43.7 69.3 -26.1 9

 10 Agency- and GSE-backed securities 52.5 34.2 -111.0 136.2 168.0 110.1 106.9 35.5 47.7 10

 11 Residential mortgage pass-through securities 22.9 52.5 -49.1 153.9 -13.4 -2.2 63.8 18.6 40.8 11

 12 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.1 -0.2 4.8 8.6 8.5 12

 13 Residential CMOs and other structured MBS 2.9 -2.3 -5.9 19.8 70.1 129.4 80.3 -10.8 -23.6 13

 14 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.1 -0.4 9.8 21.0 23.9 14

 15 Other 26.7 -16.0 -56.1 -37.5 111.3 -16.6 -51.8 -2.0 -1.9 15

 16 Municipal securities 18.3 24.2 11.9 19.9 2.4 30.3 42.6 67.8 53.8 16

 17 Corporate and foreign bonds 67.7 71.8 151.5 -63.2 25.1 -98.2 2.5 -9.0 15.2 17

 18 Private residential mortgage pass-through securities 4.5 11.9 11.0 -25.7 6.6 -9.7 -3.1 15.3 9.9 18

 19 Private commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 1.1 -6.4 -2.5 0.4 -1.2 19

 20 Private residential CMOs and other structured MBS 56.3 20.3 104.3 -43.3 -51.6 -70.6 -22.0 -20.8 -14.6 20

 21 Private commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 -3.8 -1.4 2.7 4.1 4.6 21

 22 Other 7.0 39.7 36.2 5.9 72.9 -10.2 27.3 -8.0 16.5 22

 23 Depository institution loans n.e.c. 89.7 114.2 229.3 138.7 -285.9 -36.3 163.6 218.6 136.4 23

 24 Other loans and advances -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Mortgages 450.2 359.6 252.1 -0.9 -178.1 -149.2 -105.3 13.7 -26.6 25

 26 Consumer credit 20.5 52.2 58.1 70.1 -64.5 -70.3 7.1 28.1 52.9 26

 27 Corporate equities -0.9 -0.4 1.4 0.9 6.3 -1.8 1.0 -10.5 0.8 27

 28 Mutual fund shares -1.8 3.9 3.6 1.3 14.8 -5.8 -0.8 -1.1 1.6 28

 29 Security credit -1.1 6.0 -1.9 -2.2 -3.4 3.2 12.2 -1.9 7.9 29

 30 Life insurance reserves 0.0 8.2 10.9 6.4 0.8 4.5 5.2 7.4 5.7 30

 31 U.S. direct investment abroad 0.5 -1.7 32.8 17.6 -0.8 2.7 -6.2 -2.6 3.5 31

 32 Miscellaneous assets 50.0 -8.4 18.4 7.6 40.1 -133.9 -88.3 -12.7 -8.3 32

 33 Net increase in liabilities 573.0 631.6 796.5 1009.9 -375.7 -250.1 370.0 536.7 628.3 33

 34 Net interbank liabilities -16.3 93.7 100.3 684.2 -496.4 -201.3 -263.4 -114.2 191.0 34

 35 Federal Reserve float -0.0 -1.2 0.3 -1.5 -0.6 0.7 0.8 0.1 -0.5 35

 36 Borrowing from Federal Reserve banks 0.0 -0.0 48.6 511.1 -463.1 -96.4 -0.0 -0.1 0.0 36

 37 To domestic banking -11.5 -7.4 9.2 71.0 7.5 -16.8 40.8 -29.5 38.5 37

 38 To foreign banks -4.7 102.4 42.2 103.6 -40.2 -88.8 -304.9 -84.8 153.0 38

 39 Checkable deposits -33.0 -35.7 13.5 137.9 94.0 69.6 319.4 176.2 148.2 39

 40 Federal government 7.0 -5.9 14.9 -39.5 0.3 -0.1 -2.7 0.3 0.3 40

 41 Rest of the world 6.2 9.4 5.0 31.2 -28.7 -3.8 25.6 -4.2 -1.7 41

 42 Private domestic -46.1 -39.2 -6.3 146.2 122.4 73.5 296.5 180.1 149.6 42

 43 Small time and savings deposits 296.9 306.7 282.7 480.6 472.3 271.7 537.1 491.5 256.7 43

 44 Large time deposits 211.2 139.3 17.2 -63.9 -335.7 -133.8 -13.2 -9.1 23.9 44

 45 Federal funds and security repos 41.6 26.9 56.0 -9.7 -195.0 -48.1 -81.5 -52.6 -84.7 45

 46 Credit market instruments 54.1 43.9 222.5 -0.9 -292.2 -217.6 -50.5 -110.8 -33.5 46

 47 Open market paper -0.0 0.1 -0.1 0.2 0.1 -20.1 7.6 -33.1 -27.8 47

 48 Corporate bonds 13.5 29.6 24.8 0.1 -28.5 -49.2 2.4 -82.3 -74.9 48

 49 Other loans and advances 40.7 14.3 197.8 -1.2 -263.9 -148.3 -60.5 4.6 69.2 49

 50 Corporate equity issues 8.4 10.2 7.5 12.1 11.6 11.9 6.4 1.6 2.2 50

 51 Taxes payable (net) -7.8 -1.4 -15.6 -86.0 7.3 6.6 10.6 7.0 0.1 51

 52 Miscellaneous liabilities 17.7 47.9 112.3 -144.4 358.2 -8.9 -94.9 147.2 124.4 52

 53 Investment by holding companies 27.9 97.2 114.0 113.6 166.8 33.4 76.1 101.2 59.3 53

 54 Other -10.1 -49.3 -1.7 -258.1 191.5 -42.3 -171.0 45.9 65.1 54

 55 Discrepancy -190.3 -173.7 -103.4 8.8 149.1 185.8 104.9 38.6 -34.8 55

 Memo:

 56 Consumer leases not included above (2) 0.0 0.0 -1.8 -1.7 -2.6 -0.8 -0.1 0.4 1.5 56

(1) Net capital transfers paid from table F.9, line 54.

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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24 Historical Annuals, 2005-2013, September 18, 2014

F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 3.2 3.0 3.3 2.3 2.3 2.3 2.9 3.3 4.1 1

 2 Fixed nonresidential investment 3.6 3.9 3.8 2.7 2.4 2.0 2.4 3.0 3.8 2

 3 Net acquisition of financial assets 196.9 172.6 236.5 156.5 -251.1 50.3 468.1 -15.8 316.5 3

 4 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserves at Federal Reserve 0.2 -0.3 0.4 238.0 45.1 66.7 360.2 -72.2 309.3 5

 6 Federal funds and security repos 38.8 59.2 17.2 -177.5 0.1 20.3 31.7 58.2 -1.2 6

 7 Credit market instruments 146.2 105.2 204.7 103.4 -287.5 -24.4 42.5 5.8 -7.2 7

 8 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities 0.1 -1.0 3.6 5.1 22.0 3.5 -0.5 16.1 -9.6 9

 10 Agency- and GSE-backed securities -0.9 4.2 2.0 -6.5 -19.3 -4.8 4.0 1.5 -6.7 10

 11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds 79.3 28.3 77.4 32.2 -157.8 -9.4 -1.4 -6.2 -34.1 12

 13 Depository institution loans n.e.c. 63.6 70.1 107.6 67.6 -126.0 -11.3 42.9 -3.7 43.8 13

 14 Other loans and advances 0.1 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 14

 15 Mortgages 4.0 4.1 14.1 5.2 -6.4 -2.5 -2.6 -1.9 -0.6 15

 16 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.1 -0.0 0.0 0.0 16

 17 Security credit 8.4 5.1 5.9 -10.4 -4.5 3.1 18.8 -7.3 2.5 17

 18 Miscellaneous assets 3.4 3.3 8.3 3.1 -4.4 -15.3 15.0 -0.3 13.1 18

 19 Net increase in liabilities 160.6 163.7 167.8 62.9 -76.0 32.4 469.0 -4.0 245.6 19

 20 Net interbank liabilities -0.3 -89.1 -157.1 233.0 -152.2 30.7 504.6 -1.9 157.6 20

 21 To foreign banks -5.9 -97.1 -151.7 251.8 -161.7 27.0 518.8 -51.2 141.7 21

 22 To domestic banks 5.6 8.1 -5.4 -18.8 9.5 3.7 -14.2 49.3 15.9 22

 23 Checkable deposits 0.5 -0.0 2.6 1.7 2.6 5.7 23.7 16.2 30.8 23

 24 Small time and savings deposits 0.5 8.6 6.9 0.1 4.4 5.8 13.2 13.8 27.7 24

 25 Large time deposits 76.7 146.1 269.2 -120.0 148.0 -46.5 -163.1 -16.2 71.1 25

 26 Federal funds and security repos 42.1 57.3 -21.5 -156.7 63.5 54.8 54.4 20.6 -12.3 26

 27 Acceptance liabilities 0.0 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 27

 28 Foreign direct investment in U.S. 9.4 13.8 -0.8 24.8 16.6 12.4 26.0 -0.8 4.0 28

 29 Miscellaneous liabilities 31.7 27.2 68.5 80.2 -158.9 -30.5 10.1 -35.7 -33.2 29

 30 Investment by funding corporations 21.0 8.6 43.7 35.6 -73.5 -31.5 -33.7 -11.8 -2.5 30

 31 Other 10.6 18.6 24.8 44.6 -85.3 1.1 43.8 -23.9 -30.7 31

 32 Discrepancy -36.7 -9.8 -69.2 -94.1 175.0 -17.6 1.4 12.2 -70.5 32

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).
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Historical Annuals, 2005-2013, September 18, 2014 25

F.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 0.2 0.2 0.1 0.2 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.2 0.2 0.1 0.2 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets 10.2 -1.1 -0.3 -2.9 -7.3 -14.8 -4.1 0.0 8.8 3

 4 Credit market instruments 10.2 -1.7 -6.4 -1.9 -2.8 -19.3 -4.9 -0.1 0.3 4

 5 Treasury securities 0.1 -0.2 -1.9 -0.6 -0.7 0.6 -0.0 -0.6 0.7 5

 6 Agency- and GSE-backed securities 1.2 -5.8 -2.7 -2.0 -3.9 -7.7 -8.0 -2.2 -0.8 6

 7 Municipal securities 0.2 0.8 0.7 0.5 0.9 -0.9 0.9 -0.8 0.9 7

 8 Corporate and foreign bonds -0.5 -0.4 0.1 0.0 1.5 -1.4 3.6 1.0 0.6 8

 9 Depository institution loans n.e.c. 5.6 -0.3 -4.2 -1.7 -0.3 -3.3 1.1 1.0 1.3 9

 10 Home mortgages 0.7 0.9 4.3 1.4 -0.3 -2.5 -2.4 2.3 -1.1 10

 11 Commercial mortgages 2.9 3.2 -2.7 0.4 -0.0 -4.0 -0.1 -0.8 -1.4 11

 12 Miscellaneous assets 0.1 0.6 6.1 -1.0 -4.5 4.5 0.8 0.2 8.6 12

 13 Net increase in liabilities 9.3 -1.3 -7.7 -3.4 -1.1 -14.8 -3.1 -0.1 8.5 13

 14 Net interbank liabilities 0.5 0.1 0.3 -0.6 -1.0 0.9 -1.2 -0.4 0.2 14

 15 Checkable deposits -0.2 0.7 1.7 -1.1 1.4 0.5 2.8 2.5 6.3 15

 16 Small time and savings deposits 4.9 1.2 1.1 1.1 -2.9 -5.2 -0.4 -0.1 2.5 16

 17 Large time deposits 4.9 1.2 1.1 1.1 -2.9 -5.2 -0.4 -0.1 2.5 17

 18 Miscellaneous liabilities -0.8 -4.5 -11.9 -3.8 4.3 -5.9 -3.9 -2.0 -3.0 18

 19 Discrepancy -0.9 -0.2 -7.4 -0.5 6.2 -0.0 1.0 -0.1 -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 9.0 9.6 8.7 6.6 6.4 8.4 10.1 12.0 11.8 1

 2 Fixed nonresidential investment 3.2 3.9 3.5 3.7 3.1 2.5 2.5 2.8 3.0 2

 3 Net acquisition of financial assets 37.4 33.4 37.7 41.3 61.0 76.0 53.8 43.3 33.2 3

 4 Reserves at Federal Reserve -0.1 -0.1 -0.1 3.5 27.5 10.0 11.1 1.2 -5.7 4

 5 Federal funds and security repos 2.2 -1.6 -2.6 -2.4 0.0 -0.1 15.9 -6.2 -9.6 5

 6 Credit market instruments 36.1 30.1 35.3 40.7 34.1 24.9 38.6 47.0 50.2 6

 7 Open market paper -0.0 0.2 -0.5 -0.4 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities -1.1 -0.3 3.0 -1.6 5.4 5.9 -2.5 1.7 -0.2 8

 9 Agency- and GSE-backed securities -6.8 -13.9 -4.1 14.4 27.8 40.9 30.6 14.9 2.2 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 3.2 1.0 0.3 10

 11 Corporate and foreign bonds -1.5 7.2 3.9 -8.4 -6.7 -15.7 -0.3 0.3 2.2 11

 12 Depository institution loans n.e.c. 4.9 3.0 4.8 4.8 1.3 3.5 6.6 0.1 5.1 12

 13 Home mortgages 27.4 26.4 27.8 32.2 5.4 0.9 4.5 8.3 18.6 13

 14 Consumer credit 13.2 7.5 0.5 -0.4 0.9 -10.7 -3.4 20.6 21.9 14

 15 Mutual fund shares -1.0 -0.1 -0.0 -0.0 -0.7 0.2 0.3 0.4 -0.1 15

 16 Miscellaneous assets 0.1 5.0 5.2 -0.4 0.2 41.1 -12.1 0.8 -1.6 16

 17 Net increase in liabilities 33.5 24.6 40.5 50.1 68.6 63.8 19.0 38.8 38.2 17

 18 Net interbank liabilities 6.4 -1.4 1.0 -6.8 -1.6 38.1 -21.9 -13.8 2.2 18

 19 Shares/deposits 21.6 24.5 31.7 45.1 72.0 34.3 41.5 51.3 32.6 19

 20 Checkable 7.0 -8.5 1.1 1.6 11.6 5.5 10.7 10.7 7.9 20

 21 Small time and savings 12.1 30.5 25.8 43.0 43.4 26.1 27.4 34.4 20.1 21

 22 Large time 2.5 2.5 4.8 0.5 17.0 2.8 3.4 6.2 4.7 22

 23 Federal funds and security repos -0.4 0.0 0.0 2.4 -2.4 0.0 0.0 0.0 0.0 23

 24 Other loans and advances 3.3 4.2 13.4 8.3 -14.1 -0.4 -2.0 0.9 1.9 24

 25 Miscellaneous liabilities 2.6 -2.7 -5.6 1.1 14.7 -8.3 1.3 0.3 1.5 25

 26 Discrepancy 2.0 -3.1 8.0 11.7 10.9 -6.4 -27.2 4.8 13.8 26
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26 Historical Annuals, 2005-2013, September 18, 2014

F.114 Property-Casualty Insurance Companies

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving less net capital transfers paid (1) 27.7 67.6 52.1 30.1 41.0 51.3 31.2 47.8 51.2 1

 2 Fixed nonresidential investment 17.3 17.0 18.4 19.0 18.8 15.8 16.7 19.1 19.8 2

 3 Net acquisition of financial assets 75.4 64.5 43.0 25.1 40.1 -38.2 26.7 27.0 38.3 3

 4 Checkable deposits and currency -4.8 8.9 12.8 -14.8 -0.3 5.0 -8.5 12.3 -6.7 4

 5 Money market fund shares -0.7 0.7 7.2 12.1 -3.2 -4.0 -5.6 2.2 -2.3 5

 6 Security repurchase agreements 0.6 -0.7 1.7 0.8 0.1 -0.7 -2.1 0.0 0.0 6

 7 Credit market instruments 72.8 44.8 5.3 -15.9 33.3 3.9 36.2 1.0 25.3 7

 8 Open market paper 3.5 0.6 -3.1 5.8 -9.3 -1.9 0.9 -1.4 0.7 8

 9 Treasury securities 0.3 3.1 -38.7 -5.6 22.9 3.2 4.6 -6.7 6.0 9

 10 Agency- and GSE-backed securities 5.8 4.1 3.8 -11.5 1.9 -0.4 6.9 -8.4 -5.6 10

 11 Municipal securities 45.4 22.1 36.1 10.6 -12.6 -21.0 -17.4 -2.9 -2.3 11

 12 Corporate and foreign bonds 17.5 14.2 5.9 -15.4 30.8 24.3 40.4 19.6 24.2 12

 13 Commercial mortgages 0.3 0.7 1.3 0.2 -0.5 -0.3 0.8 0.7 2.3 13

 14 Corporate equities -6.3 -1.9 2.0 35.4 -2.8 -20.9 2.9 4.6 3.5 14

 15 Mutual fund shares 0.5 4.7 -2.0 -0.7 0.5 -0.1 -0.7 1.8 1.2 15

 16 Trade receivables 2.4 4.9 -1.6 1.3 -3.7 0.8 3.4 4.8 3.3 16

 17 U.S. direct investment abroad 10.8 3.1 17.6 6.8 16.3 -22.2 1.1 0.2 14.1 17

 18 Net increase in liabilities 46.4 42.1 9.4 14.3 -4.3 2.9 16.8 -16.7 19.5 18

 19 Security repurchase agreements 0.1 -0.1 -0.7 1.9 -1.7 0.8 -1.1 0.4 1.4 19

 20 Corporate equity issues -2.8 -8.5 -13.2 0.4 -5.3 -12.7 -10.7 -14.5 -7.6 20

 21 Taxes payable (net) -3.1 11.0 -2.4 -28.1 5.3 5.6 -4.4 3.8 19.1 21

 22 Foreign direct investment in U.S. -0.1 23.1 7.1 14.9 2.4 2.8 -2.2 -5.3 6.8 22

 23 Miscellaneous liabilities 52.3 16.6 18.7 25.4 -5.0 6.3 35.2 -1.0 -0.3 23

 24 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -6.8 -6.0 24

 25 Policy payables 52.3 16.6 18.7 25.4 -5.0 6.3 35.2 5.8 5.7 25

 26 Discrepancy -18.5 28.2 0.2 0.4 -22.2 76.6 4.6 -15.0 12.6 26

(1) Net capital transfers paid from table F.9, line 51.
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Historical Annuals, 2005-2013, September 18, 2014 27

F.115 Life Insurance Companies (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 14.5 7.5 5.6 -45.0 13.0 16.2 7.2 12.6 7.6 1

 2 Fixed nonresidential investment 12.7 12.7 13.5 13.8 13.5 11.5 12.3 14.0 14.6 2

 3 Net acquisition of financial assets 173.9 225.0 240.5 166.0 116.4 181.5 229.0 127.0 102.7 3

 4 Checkable deposits and currency -5.5 8.3 2.3 24.4 -32.1 1.0 2.0 2.7 -9.2 4

 5 Money market fund shares -3.7 9.7 -1.6 17.5 -5.5 -12.7 7.9 -1.4 -5.9 5

 6 Security repurchase agreements -1.0 -0.1 0.2 5.2 2.2 0.7 -0.8 -1.6 -0.0 6

 7 Credit market instruments 116.2 67.5 84.8 11.6 139.8 151.6 125.3 74.3 77.4 7

 8 Open market paper -3.0 4.3 13.1 -3.4 11.5 -8.9 -11.2 13.9 3.2 8

 9 Treasury securities 13.5 -7.6 -17.3 35.1 27.7 23.2 18.8 5.5 -12.2 9

 10 Agency- and GSE-backed securities 11.4 8.8 5.5 -16.7 5.8 4.0 -1.6 -13.5 -6.8 10

 11 Municipal securities 2.4 4.1 4.8 5.7 26.1 39.2 9.4 9.7 10.1 11

 12 Corporate and foreign bonds 74.7 29.7 43.1 -45.5 97.6 102.9 87.1 45.0 60.8 12

 13 Other loans and advances 5.0 9.8 13.2 20.3 -12.6 -0.2 7.9 1.8 3.5 13

 14 Mortgages 12.1 18.3 22.4 16.3 -16.3 -8.6 15.0 11.9 18.8 14

 15 Corporate equities 65.9 71.4 84.1 81.8 33.4 45.6 37.7 15.3 13.4 15

 16 Mutual fund shares -9.9 26.9 31.3 -10.7 0.0 1.0 1.1 1.3 1.4 16

 17 U.S. direct investment abroad 1.4 0.8 5.8 4.6 1.6 1.9 3.3 5.2 1.2 17

 18 Miscellaneous assets 10.6 40.5 33.7 31.5 -23.1 -7.6 52.4 31.2 24.4 18

 19 Equity in FHLB -0.1 0.0 0.6 1.0 -0.3 -0.0 -0.8 0.1 1.0 19

 20 Deferred and unpaid life ins. premiums 1.0 0.5 1.0 3.2 -4.9 2.7 -0.4 0.6 3.0 20

 21 Other 9.7 40.0 32.1 27.4 -17.8 -10.2 53.6 30.6 20.4 21

 22 Net increase in liabilities 160.9 201.3 197.5 153.1 32.2 145.0 203.7 90.4 87.1 22

 23 Security repurchase agreements 7.4 0.3 -1.1 -7.3 -0.5 -2.2 0.1 3.1 -0.8 23

 24 Corporate equity issues -8.0 -20.0 -30.6 -10.7 -0.9 -4.8 -11.5 -9.9 -9.2 24

 25 Other loans and advances 0.4 2.7 14.5 26.2 -6.6 -3.2 1.8 4.8 7.8 25

 26 Life insurance reserves 14.0 64.1 33.2 64.2 26.3 13.6 79.9 -12.2 29.8 26

 27 Pension entitlements (2) 120.3 95.8 106.8 167.9 -79.6 72.5 85.2 80.3 38.1 27

 28 Taxes payable (net) -2.6 4.0 -3.4 -19.7 -7.0 2.6 5.2 -4.6 -2.3 28

 29 Foreign direct investment in U.S. 0.4 14.4 -1.0 12.5 11.1 6.3 -5.4 1.4 5.1 29

 30 Miscellaneous liabilities 28.9 40.0 79.0 -80.0 89.5 60.2 48.5 27.5 18.6 30

 31 Investment by parent companies 9.7 2.7 5.3 -12.5 9.3 22.2 9.3 10.3 3.4 31

 32 Other reserves (3) 9.5 14.8 15.5 17.6 8.4 17.1 14.8 -1.8 0.4 32

 33 Unallocated insurance contracts 16.4 2.0 36.7 -74.2 113.9 13.4 10.4 -1.7 16.9 33

 34 Other -6.7 20.5 21.4 -11.0 -42.1 7.4 14.0 20.7 -2.1 34

 35 Discrepancy -11.1 -29.0 -50.8 -71.6 -84.7 -31.8 -30.3 -38.0 -22.5 35

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables F.115.g and F.115.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 33.

(3) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
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28 Historical Annuals, 2005-2013, September 18, 2014

F.116 Private and Public Pension Funds (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.1 0.1 2

 3 Net acquisition of financial assets (2) 477.6 506.6 514.0 384.6 477.2 523.2 414.0 417.5 456.7 3

 4 Checkable deposits and currency -6.4 -2.4 1.7 -5.5 -3.1 2.7 6.0 -1.4 0.8 4

 5 Time and savings deposits 15.9 9.7 7.3 -3.2 3.8 4.7 4.1 -4.5 7.7 5

 6 Money market fund shares 18.5 15.4 7.8 0.4 -13.0 -7.9 15.5 -20.6 11.0 6

 7 Security repurchase agreements -7.8 -2.9 0.4 -1.2 0.1 0.1 0.1 -0.5 0.6 7

 8 Credit market instruments 91.5 160.6 87.6 -2.9 -66.1 153.8 113.6 170.0 122.1 8

 9 Open market paper -1.3 1.8 5.0 -5.5 0.9 2.5 4.5 -6.2 5.5 9

 10 Treasury securities 16.1 22.4 4.4 16.4 65.0 52.0 62.0 75.6 61.8 10

 11 Agency- and GSE-backed securities -30.8 26.4 2.0 -28.8 -10.3 8.0 17.3 44.5 27.0 11

 12 Corporate and foreign bonds 110.0 108.1 72.1 26.0 -116.6 88.2 35.1 56.2 33.5 12

 13 Mortgages -1.5 1.9 4.2 -10.8 -5.2 2.4 -4.7 0.5 -6.0 13

 14 Corporate equities 12.8 -85.2 70.7 39.0 -81.0 -50.4 -118.0 -68.7 -147.2 14

 15 Mutual fund shares 66.2 68.6 68.9 66.7 49.9 20.8 -57.1 -75.5 17.7 15

 16 Miscellaneous assets 287.0 342.8 269.6 291.2 586.6 399.4 449.8 418.8 444.0 16

 17 Unallocated insurance contracts (3) 16.4 2.0 36.7 -74.2 113.9 13.4 10.4 -1.7 16.9 17

 18 Contributions receivable -1.9 -2.0 4.5 14.7 -8.6 15.4 3.0 -12.3 -0.6 18

 19 Nonmarketable Treasury securities (4) 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 98.2 19

 20 Claims of pension fund on sponsor (5) 193.9 268.2 159.6 304.7 402.2 274.9 320.6 358.8 295.3 20

 21 Other 38.5 38.8 35.5 -17.3 17.2 29.9 45.1 33.6 34.1 21

 22 Pension entitlements (liabilities) (6) 477.6 506.7 514.0 384.6 477.2 523.2 414.0 417.6 456.8 22

 Memo:

 23 Household retirement assets (7) 776.1 837.7 1035.9 778.4 547.5 628.1 462.4 577.8 349.4 23

 24 Defined benefit plans 330.8 329.7 343.0 346.5 348.8 352.4 351.8 321.9 311.6 24

 25 Defined contribution plans 146.8 177.0 170.9 38.1 128.4 170.8 62.2 95.6 145.1 25

 26 Individual retirement plans (IRAs) (8) 206.4 247.4 436.6 248.3 136.5 51.8 -26.6 94.2 -136.8 26

 27 Annuities at life insurance companies (9) 92.1 83.6 85.4 145.5 -66.1 53.2 75.0 66.1 29.4 27

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(4) 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.

(5) Unfunded defined benefit pension entitlements.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(8) IRA assets are not included above. See table L.226.i for a sectoral distribution of IRA accounts.

(9) Annuities held in IRAs at life insurance companies are excluded. They are included in line 26.
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Historical Annuals, 2005-2013, September 18, 2014 29

F.117 Private Pension Funds (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets (2) 169.1 189.8 182.6 106.6 153.4 177.5 95.7 114.0 121.9 3

 4 Checkable deposits and currency 0.3 0.4 1.3 -5.6 -2.8 2.1 5.6 -1.7 0.1 4

 5 Time and savings deposits 6.2 1.0 3.8 -4.5 2.9 -0.6 1.6 -3.9 -0.3 5

 6 Money market fund shares 1.9 3.4 6.9 5.1 -9.6 -10.2 16.5 -17.1 2.2 6

 7 Security repurchase agreements 1.1 1.0 0.2 -1.0 0.2 -0.2 0.0 -0.3 -0.1 7

 8 Credit market instruments 44.4 58.1 31.1 -7.0 9.5 120.6 73.6 146.6 49.8 8

 9 Open market paper 1.9 0.6 3.5 -6.2 1.7 -2.0 2.4 -4.9 -3.4 9

 10 Treasury securities 3.4 14.5 0.5 5.1 32.8 31.3 27.0 44.4 36.1 10

 11 Agency- and GSE-backed securities 17.9 16.2 3.7 -1.8 -6.5 6.5 4.3 22.1 15.2 11

 12 Corporate and foreign bonds 21.4 27.1 21.3 3.8 -16.0 82.1 44.5 83.8 5.2 12

 13 Mortgages -0.2 -0.3 2.2 -8.0 -2.4 2.8 -4.6 1.2 -3.4 13

 14 Corporate equities -48.9 -95.4 -3.3 -65.0 -91.2 22.7 -60.3 -18.6 0.5 14

 15 Mutual fund shares 72.3 77.8 85.1 84.2 51.5 34.7 8.4 -26.1 27.4 15

 16 Miscellaneous assets 91.9 143.5 57.5 100.2 192.8 8.5 50.2 35.2 42.2 16

 17 Unallocated insurance contracts (3) 7.0 -12.2 25.7 -38.3 90.8 -0.4 20.7 5.0 10.7 17

 18 Contributions receivable -1.9 -2.0 4.5 14.7 -8.6 15.4 3.0 -12.3 -0.6 18

 19 Claims of pension fund on sponsor (4) 93.1 148.4 -4.9 123.4 82.8 -20.7 -16.8 8.4 12.1 19

 20 Other -6.4 9.2 32.2 0.4 27.8 14.2 43.4 34.1 19.9 20

 21 Pension entitlements (liabilities) (5) 169.1 189.8 182.7 106.6 153.4 177.5 95.7 114.1 121.9 21

 Memo:

 Net acquisition of financial assets (6)

 22 Defined benefit plans 65.5 59.4 61.7 57.5 57.3 47.5 46.6 24.9 18.8 22

 23 Defined contribution plans 103.6 130.4 120.9 49.1 96.1 130.0 49.1 89.2 103.1 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.117.b and F.117.c.
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30 Historical Annuals, 2005-2013, September 18, 2014

F.118 State and Local Government Employee Retirement Funds

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.1 0.1 2

 3 Net acquisition of financial assets (1) 210.7 221.5 235.9 181.5 230.0 243.6 205.3 201.5 224.9 3

 4 Checkable deposits and currency -6.7 -2.8 0.4 0.1 -0.4 0.5 0.4 0.3 0.7 4

 5 Time and savings deposits 9.7 8.7 3.5 1.3 0.9 5.4 2.5 -0.6 8.0 5

 6 Money market fund shares 16.6 12.0 0.8 -4.8 -3.4 2.3 -1.0 -3.5 8.9 6

 7 Security repurchase agreements -8.8 -3.9 0.2 -0.2 -0.1 0.3 0.1 -0.1 0.7 7

 8 Credit market instruments 39.0 93.7 43.9 -19.8 -83.1 22.4 14.4 8.0 62.9 8

 9 Open market paper -3.2 1.2 1.5 0.7 -0.8 4.5 2.1 -1.3 8.9 9

 10 Treasury securities 5.1 -0.6 -7.4 -13.4 24.8 10.7 11.6 19.1 13.3 10

 11 Agency- and GSE-backed securities -48.8 10.5 -1.5 -26.8 -3.8 0.9 12.3 20.9 13.5 11

 12 Municipal securities -0.9 -0.0 -0.1 -0.1 0.1 0.8 -0.7 -0.7 0.2 12

 13 Corporate and foreign bonds 88.2 80.5 49.4 22.7 -100.5 5.9 -10.9 -29.3 29.6 13

 14 Mortgages -1.3 2.2 2.0 -2.8 -2.7 -0.4 -0.1 -0.7 -2.6 14

 15 Corporate equities 55.0 4.2 72.1 112.3 1.4 -78.5 -53.5 -46.1 -156.8 15

 16 Mutual fund shares -6.1 -9.2 -16.2 -17.5 -1.7 -13.9 -65.5 -49.3 -9.7 16

 17 Miscellaneous assets 112.0 118.7 131.1 110.1 316.3 305.0 308.0 292.9 310.3 17

 18 Unallocated insurance contracts (2) 9.4 14.2 11.1 -35.8 23.0 13.8 -10.3 -6.7 6.2 18

 19 Claims of pension fund on sponsor (3) 57.7 74.9 116.8 163.7 303.9 275.5 316.5 300.2 290.0 19

 20 Other 44.9 29.5 3.2 -17.7 -10.6 15.7 1.7 -0.6 14.1 20

 21 Pension entitlements (liabilities) (4) 210.7 221.5 235.9 181.5 230.0 243.6 205.3 201.5 224.9 21

 Net acquisition of financial assets (5)

 22 Defined benefit plans 183.1 190.8 201.5 209.5 216.0 220.7 215.2 208.4 202.9 22

 23 Defined contibution plans 27.6 30.7 34.4 -28.0 14.1 22.9 -9.9 -6.9 22.0 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Additional detail on defined benefit plans and defined contribution plans is available on tables F.118.b and F.118.c.

F.119 Federal Government Employee Retirement Funds

Billions of dollars

 1 Net acquisition of financial assets (1) 97.8 95.3 95.4 96.5 93.7 102.1 113.0 102.0 109.9 1

 2 Credit market instruments 8.0 8.8 12.6 23.9 7.4 10.9 25.6 15.4 9.4 2

 3 Treasury securities (2) 7.6 8.5 11.3 24.7 7.4 10.1 23.4 12.1 12.4 3

 4 Agency- and GSE-backed securities 0.0 -0.2 -0.2 -0.2 0.0 0.6 0.7 1.5 -1.7 4

 5 Corporate and foreign bonds 0.4 0.5 1.5 -0.5 -0.0 0.2 1.4 1.7 -1.3 5

 6 Corporate equities 6.7 5.9 1.9 -8.4 8.8 5.4 -4.2 -4.1 9.1 6

 7 Miscellaneous assets 83.1 80.7 81.0 80.9 77.5 85.9 91.6 90.7 91.4 7

 8 Nonmarketable Treasury securities (3) 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 98.2 8

 9 Claims of pension fund on sponsor (4) 43.1 44.9 47.7 17.6 15.6 20.2 20.8 50.3 -6.8 9

 10 Pension entitlements (liabilities) (5) 97.8 95.3 95.4 96.5 93.7 102.1 113.0 102.0 109.9 10

 Memo:

 Net acquisition of financial assets (6)

 11 Defined benefit plans 82.2 79.5 79.8 79.5 75.5 84.2 90.0 88.6 89.9 11

 12 Defined contibution plans 15.6 15.8 15.7 16.9 18.2 18.0 23.0 13.3 20.0 12

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes nonmarketable Treasury securities held by the Thrift Savings Plan.

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.119.b and F.119.c.
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Historical Annuals, 2005-2013, September 18, 2014 31

F.120 Money Market Mutual Funds (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net acquisition of financial assets 125.1 303.1 736.8 724.2 -498.7 -503.2 -112.8 7.1 28.7 1

 2 Foreign deposits 7.7 -10.0 34.4 -14.6 11.6 8.7 -62.9 0.4 -9.6 2

 3 Checkable deposits and currency -1.7 7.5 -4.7 5.6 10.5 -3.7 5.8 -3.6 -3.2 3

 4 Time and savings deposits 14.0 28.0 74.7 102.7 169.9 -107.7 -56.3 32.8 59.4 4

 5 Security repurchase agreements 111.8 49.2 211.1 -63.5 -62.4 -0.6 11.1 54.2 -51.7 5

 6 Credit market instruments 2.3 221.6 391.8 727.9 -619.9 -396.6 -9.8 -82.7 30.9 6

 7 Open market paper 84.4 111.4 73.7 -56.1 -108.0 -116.3 -40.0 -13.3 11.3 7

 8 Treasury securities -14.2 -5.9 95.5 399.5 -171.3 -71.0 107.9 14.5 30.4 8

 9 Agency- and GSE-backed securities -107.9 -28.2 102.0 520.3 -213.1 -140.2 0.9 -60.2 17.6 9

 10 Municipal securities 26.7 42.9 104.6 12.9 -69.4 -53.4 -29.4 -20.6 -28.3 10

 11 Corporate and foreign bonds 13.4 101.3 15.9 -148.8 -58.1 -15.7 -49.1 -3.0 0.0 11

 12 Miscellaneous assets -8.9 6.8 29.4 -33.9 -8.3 -3.4 -0.8 6.1 2.8 12

 13 Net share issues (liabilities) 125.1 303.1 736.8 724.2 -498.7 -503.2 -112.8 7.1 28.7 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.121 Mutual Funds (1)

Billions of dollars

 1 Gross saving -38.4 -47.2 -58.3 -52.7 -40.7 -24.9 -35.7 -39.8 -41.3 1

 2 Net acquisition of financial assets 260.2 336.8 361.5 -9.9 497.1 370.1 338.4 624.9 638.8 2

 3 Security repurchase agreements 2.8 17.4 -0.6 -7.4 28.6 -15.8 -28.8 54.1 92.9 3

 4 Credit market instruments 124.1 184.9 268.0 32.4 387.1 353.6 359.4 642.0 363.9 4

 5 Open market paper 2.9 17.4 -0.4 -62.5 28.6 -13.9 -26.3 27.6 27.7 5

 6 Treasury securities 13.0 0.7 2.9 18.5 74.0 121.2 74.6 120.6 52.6 6

 7 Agency- and GSE-backed securities 14.4 20.0 79.6 -23.4 50.0 78.1 106.2 89.4 -21.6 7

 8 Municipal securities 17.4 32.7 27.7 17.7 89.4 46.7 15.7 86.2 -13.5 8

 9 Corporate and foreign bonds 65.9 104.3 122.1 69.7 143.8 122.3 170.3 306.0 279.4 9

 10 Other loans and advances 10.5 9.8 36.1 12.4 1.3 -0.8 18.9 12.2 39.4 10

 11 Corporate equities 129.6 131.3 91.3 -38.1 86.5 44.3 4.9 -38.1 162.9 11

 12 Miscellaneous assets 3.7 3.3 2.8 3.2 -5.1 -12.0 2.9 -33.1 19.1 12

 13 Net share issues (liabilities) 260.2 336.8 361.5 -9.9 497.1 370.1 338.4 624.9 638.8 13

 14 Discrepancy -38.4 -47.2 -58.3 -52.7 -40.7 -24.9 -35.7 -39.8 -41.3 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.122 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Net acquisition of financial assets 20.5 8.5 18.4 -61.9 7.1 0.5 -2.9 2.6 -1.6 1

 2 Credit market instruments 2.2 6.1 -0.4 -40.5 10.5 5.2 -1.7 11.2 14.3 2

 3 Treasury securities 0.3 0.2 -1.7 -2.4 1.2 0.7 -0.3 0.3 0.6 3

 4 Municipal securities 0.2 0.0 1.9 -13.3 3.3 0.4 0.9 3.4 -1.7 4

 5 Corporate and foreign bonds 1.7 5.8 -0.5 -24.8 6.0 4.1 -2.3 7.5 15.4 5

 6 Corporate equities 18.3 2.4 18.8 -21.3 -3.4 -4.7 -1.2 -8.6 -15.9 6

 7 Net share issues (liabilities) 20.5 8.5 18.4 -61.9 7.1 0.5 -2.9 2.6 -1.6 7

 Exchange-traded funds

 8 Net acquisition of financial assets 56.7 74.0 150.6 177.2 116.5 118.0 117.6 185.2 179.0 8

 9 Credit market instruments 6.8 5.7 13.4 23.0 46.0 29.7 46.1 52.3 12.2 9

 10 Treasury securities 4.8 3.4 6.6 7.4 14.7 9.2 11.4 1.2 -6.5 10

 11 Municipal securities 0.0 0.0 0.6 1.7 3.6 1.7 1.0 3.6 -0.8 11

 12 Corporate and foreign bonds 1.9 2.4 6.2 13.9 27.6 18.7 33.6 47.6 19.5 12

 13 Corporate equities 50.0 68.3 137.3 154.2 70.5 88.3 71.6 132.9 166.8 13

 14 Net share issues (liabilities) 56.7 74.0 150.6 177.2 116.5 118.0 117.6 185.2 179.0 14
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32 Historical Annuals, 2005-2013, September 18, 2014

F.123 Government-Sponsored Enterprises (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 4.2 4.1 4.7 6.7 9.6 10.5 8.8 8.4 8.5 1

 2 Fixed nonresidential investment 0.8 0.9 1.4 1.8 1.1 3.7 3.4 3.5 3.8 2

 3 Net acquisition of financial assets -63.7 53.1 300.6 233.5 -360.8 -274.1 -205.7 -176.0 104.4 3

 4 Checkable deposits and currency -24.5 1.8 -2.7 39.7 11.1 -36.0 9.3 -20.1 29.0 4

 5 Time and savings deposits 12.1 -1.5 12.8 21.9 -42.8 0.3 -12.7 -9.1 1.1 5

 6 Federal funds and security repos 13.9 9.3 24.5 -28.3 7.5 20.7 -38.9 38.6 1.5 6

 7 Credit market instruments -69.1 46.6 239.0 242.9 -337.8 -288.4 -163.2 -189.4 59.8 7

 8 Open market paper 8.0 18.5 -4.7 14.1 3.0 0.2 -3.4 -3.1 1.0 8

 9 Treasury securities 0.2 1.2 1.3 1.2 19.9 45.9 17.6 -31.2 -9.9 9

 10 Agency- and GSE-backed securities -135.4 -37.1 -11.1 207.0 -27.4 -85.1 -18.1 -48.3 -22.7 10

 11 Municipal securities -4.9 -3.6 -2.8 -2.0 -2.2 -4.2 -3.9 -4.1 -3.5 11

 12 Corporate and foreign bonds 50.9 16.1 -17.4 -77.7 -48.6 -29.6 -30.8 -50.0 -59.4 12

 13 Other loans and advances 52.4 33.1 237.7 38.1 -284.8 -144.7 -64.2 18.6 81.9 13

 14 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Farm Credit System 8.1 11.9 11.9 4.8 -0.2 7.2 -3.5 8.3 2.9 15

 16 FHLB loans 44.4 21.2 225.8 33.3 -284.6 -151.9 -60.7 10.3 79.0 16

 17 Mortgages -40.2 18.4 35.9 62.2 2.4 -71.0 -60.5 -71.4 72.5 17

 18 Home -54.7 3.7 -9.7 8.8 -23.2 -76.4 -66.5 -82.5 92.8 18

 19 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 -192.7 -72.5 -44.9 148.0 19

 20 Other -54.7 3.7 -9.7 8.8 -23.2 116.3 5.9 -37.6 -55.1 20

 21 Multifamily residential 10.5 12.4 42.3 42.5 14.2 2.0 2.8 6.2 -21.9 21

 22 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 25.3 24.5 27.5 18.9 22

 23 Other 10.5 12.4 42.3 42.5 14.2 -23.3 -21.7 -21.3 -40.8 23

 24 Farm 4.0 2.2 3.3 10.9 11.4 3.4 3.3 4.9 1.6 24

 25 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous assets 4.0 -3.2 27.0 -42.6 1.2 29.3 -0.1 4.1 13.1 26

 27 Net increase in liabilities -81.7 48.3 322.9 326.0 -360.2 -237.8 -208.1 -146.6 100.5 27

 28 Federal funds and security repos -1.9 -0.4 -0.6 -1.0 -0.1 0.1 -0.9 -0.4 0.0 28

 29 Credit market instruments -84.0 35.6 279.7 261.3 -518.4 -233.8 -187.2 -154.6 107.5 29

 30 GSE issues (4) -84.0 35.6 279.7 261.3 -518.4 -233.8 -187.2 -154.6 107.5 30

 31 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 -167.4 -48.0 -17.4 166.8 31

 32 Other -84.0 35.6 279.7 261.3 -518.4 -66.4 -139.2 -137.2 -59.3 32

 33 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Corporate equities 4.2 1.1 25.5 27.6 96.0 38.1 29.2 14.5 2.4 34

 35 Miscellaneous liabilities 0.0 12.0 18.4 38.1 62.3 -42.2 -49.2 -6.1 -9.4 35

 36 Discrepancy -14.7 -1.5 25.6 97.3 9.1 43.0 3.0 34.3 0.7 36

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table F.124) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.124 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Net acquisition of financial assets 164.5 292.6 626.0 507.4 458.3 186.9 165.3 132.2 132.4 1

 2 Home mortgages 169.0 302.8 625.4 502.6 445.6 175.8 148.0 105.0 98.8 2

 3 Multifamily residential mortgages -4.5 -12.5 -0.7 4.6 13.0 11.3 19.4 27.0 33.7 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages -0.1 2.3 1.4 0.1 -0.2 -0.2 -2.1 0.3 -0.2 5

 6 Net increase in pool securities (liabilities)(2) 164.5 292.6 626.0 507.4 458.3 186.9 165.3 132.2 132.4 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 F.123). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
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Historical Annuals, 2005-2013, September 18, 2014 33

F.125 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 0.8 0.7 0.6 0.5 0.4 0.3 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.2 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets 732.2 797.1 369.8 -331.6 -613.7 -411.7 -172.6 -143.4 -234.8 3

 4 Treasury securities 19.7 33.4 24.7 -13.6 -18.3 -13.8 -10.9 -5.8 1.0 4

 5 Agency- and GSE-backed securities (1) -40.7 22.6 18.1 -26.0 -224.2 -96.0 -3.3 -0.0 -0.2 5

 6 Other loans and advances 20.2 65.0 88.6 37.9 -51.1 -38.9 -5.4 -0.6 -11.5 6

 7 Mortgages (2) 697.5 631.5 202.3 -271.5 -248.0 -211.3 -144.7 -134.3 -217.8 7

 8 Home 590.2 523.5 59.0 -231.8 -202.0 -159.1 -119.3 -104.9 -83.0 8

 9 Multifamily residential 16.2 13.0 21.4 -10.8 -6.1 -8.5 -7.7 -9.6 -5.9 9

 10 Commercial 91.1 95.0 121.8 -28.9 -39.9 -43.8 -17.6 -19.8 -128.8 10

 11 Consumer credit 38.4 36.2 32.8 -42.3 -37.8 -42.3 -4.1 3.8 -0.8 11

 12 Trade credit -2.8 8.5 3.4 -16.1 -34.3 -9.5 -4.2 -6.4 -5.4 12

 13 Net increase in liabilities 731.6 796.5 369.3 -332.1 -614.0 -411.9 -172.6 -143.4 -234.8 13

 14 Commercial paper 148.3 162.9 -194.2 -83.9 -266.2 -40.3 -24.1 -9.0 -7.1 14

 15 Corporate bonds (net) (3) 583.3 633.6 563.5 -248.2 -347.8 -371.6 -148.5 -134.3 -227.7 15

 16 Discrepancy 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) -0.6 -0.5 -0.5 -0.4 -0.4 -0.2 0.0 0.0 0.0 17

 18 REIT assets (5) 17.3 2.8 -17.9 -46.7 -26.8 -0.5 -3.8 1.3 139.6 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.127.

F.126 Finance Companies (1)

Billions of dollars

 1 Gross saving 65.7 67.7 74.8 93.3 96.8 69.9 102.6 107.4 91.6 1

 2 Fixed nonresidential investment 64.8 67.0 70.9 49.8 19.5 39.6 51.2 64.2 69.5 2

 3 Net acquisition of financial assets 99.0 34.3 20.7 -56.7 -184.4 -212.8 -17.8 -69.6 -20.4 3

 4 Checkable deposits and currency -8.9 -1.6 0.4 0.3 0.5 -1.7 5.1 -3.8 4.2 4

 5 Time and savings deposits -9.1 -4.8 1.2 0.8 1.6 -5.2 15.4 -11.5 12.7 5

 6 Credit market instruments 64.7 72.3 26.0 -62.1 -214.9 -102.6 -44.4 -28.6 -19.0 6

 7 Corporate and foreign bonds -52.5 -18.7 4.5 3.0 6.3 -19.8 0.9 -6.3 -10.8 7

 8 Other loans and advances 27.6 18.9 24.9 16.9 -91.0 -15.2 3.0 11.2 14.4 8

 9 Mortgages 65.4 52.9 -43.7 -64.2 -47.8 -54.2 -30.9 -25.7 -21.9 9

 10 Consumer credit 24.2 19.2 40.2 -17.9 -82.4 -13.4 -17.4 -7.8 -0.6 10

 11 U.S. direct investment abroad 4.5 8.0 26.4 24.2 11.0 6.8 12.0 7.7 4.0 11

 12 Miscellaneous assets 47.7 -39.5 -33.3 -19.8 17.4 -110.1 -5.9 -33.4 -22.3 12

 13 Net increase in liabilities 63.5 48.5 26.5 -69.1 -250.2 -233.1 -26.0 -82.1 -21.6 13

 14 Credit market instruments 33.5 34.8 34.9 -79.4 -156.2 -174.9 -13.5 -56.7 4.2 14

 15 Open market paper -15.3 5.3 -15.1 -22.6 -38.8 1.7 10.0 8.2 -10.3 15

 16 Corporate bonds 43.6 42.4 -2.8 -49.6 -87.0 -111.7 -39.4 -81.4 4.4 16

 17 Depository institution loans n.e.c. 5.2 -12.9 52.8 -7.1 -30.4 -64.9 15.9 16.4 10.1 17

 18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Taxes payable 1.9 0.0 -1.5 -0.1 -2.8 0.3 0.5 0.2 0.1 19

 20 Foreign direct investment in U.S. 6.3 5.2 -5.6 12.2 12.8 13.2 6.1 -0.8 0.5 20

 21 Miscellaneous liabilities 21.9 8.4 -1.3 -1.9 -104.1 -71.7 -19.1 -24.7 -26.4 21

 22 Investment by parent 25.5 26.2 -13.4 -8.4 -32.6 -12.8 -12.0 -0.9 -1.0 22

 23 Other -3.7 -17.8 12.0 6.5 -71.5 -58.8 -7.1 -23.8 -25.3 23

 24 Discrepancy -34.5 14.9 9.7 31.1 11.5 9.9 43.2 30.6 20.9 24

 Memo:

 25 Consumer leases not included above (2) 11.2 20.6 16.9 -11.8 -25.7 -16.5 7.9 24.3 23.3 25

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.125.
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34 Historical Annuals, 2005-2013, September 18, 2014

F.127 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving -22.2 -14.3 -22.8 -17.4 2.6 -8.7 -11.2 -14.4 -11.6 1

 2 Fixed nonresidential investment 0.3 0.2 0.3 0.2 0.1 0.1 0.1 0.3 0.3 2

 3 Multifamily residential investment 2.5 3.5 -9.3 0.1 0.7 4.0 6.5 5.3 14.7 3

 4 Net acquisition of financial assets 54.2 38.7 -25.9 -67.6 12.4 39.7 131.2 161.0 50.1 4

 5 Checkable deposits and currency 1.4 4.9 -1.8 1.8 12.4 -5.7 2.5 7.7 -1.3 5

 6 Credit market instruments 41.3 26.0 -19.8 -68.6 -10.3 44.1 120.2 127.6 39.2 6

 7 Agency- and GSE-backed securities -4.0 24.8 23.5 0.7 15.6 38.2 104.7 109.5 -95.6 7

 8 Corporate and foreign bonds 17.0 11.6 -30.2 -22.8 4.3 7.2 3.8 9.5 -0.2 8

 9 Mortgages 28.3 -10.4 -13.1 -46.5 -30.2 -1.3 11.7 8.6 135.0 9

 10 Home 24.8 -23.8 -23.4 -46.1 -25.2 0.2 11.0 6.9 -3.3 10

 11 Multifamily residential 0.3 3.1 0.2 -0.9 -2.0 -0.3 -0.2 0.1 0.5 11

 12 Commercial 3.2 10.3 10.1 0.4 -2.9 -1.2 0.9 1.5 137.7 12

 13 Miscellaneous assets 11.6 7.8 -4.4 -0.8 10.2 1.3 8.5 25.8 12.2 13

 14 Net increase in liabilities 89.2 59.8 25.7 -56.1 2.5 62.3 168.0 211.0 136.4 14

 15 Security repurchase agreements 13.2 14.4 -6.2 -12.3 11.1 29.9 97.7 102.4 -66.6 15

 16 Credit market instruments 55.4 15.5 10.2 -53.8 -27.6 0.1 25.6 35.5 178.4 16

 17 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds 32.8 13.9 0.7 -60.3 -26.6 1.0 7.6 26.7 173.6 18

 19 Depository institution loans n.e.c. 8.4 -5.0 4.8 -0.3 -12.7 -1.8 4.6 4.0 -2.9 19

 20 Mortgages 14.1 6.6 4.7 6.8 11.8 0.8 13.5 4.8 7.8 20

 21 Corporate equity issues 16.1 22.2 17.1 12.8 24.2 28.2 37.5 47.6 46.2 21

 22 Miscellaneous liabilities 4.5 7.7 4.6 -2.7 -5.3 4.1 7.1 25.4 -21.7 22

 23 Discrepancy 10.1 3.0 37.8 -6.1 -8.0 9.8 18.9 30.0 59.6 23

 Memo:

 24 Securitized assets included above 17.3 2.8 -17.9 -46.7 -26.8 -0.5 -3.8 1.3 139.6 24

 25 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Home mortgages 15.7 -9.8 -20.2 -40.6 -25.7 1.1 -0.7 3.7 4.0 26

 27 Multifamily residential mortgages 0.1 0.3 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 27

 28 Commercial mortgages 1.6 12.3 2.4 -6.1 -1.1 -1.6 -3.0 -2.4 135.6 28

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.127.e and F.127.m.
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Historical Annuals, 2005-2013, September 18, 2014 35

F.128 Security Brokers and Dealers

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 12.5 22.0 -22.3 -98.7 36.9 25.8 6.3 23.2 14.4 1

 2 Fixed nonresidential investment 14.4 17.7 24.3 20.3 23.6 17.9 16.1 13.0 13.5 2

 3 Net acquisition of financial assets 408.9 599.5 517.7 -1180.4 -236.3 234.4 29.1 173.7 -298.1 3

 4 Checkable deposits and currency -6.4 24.0 24.5 15.1 -29.4 6.2 14.9 16.3 -16.5 4

 5 Security repurchase agreements 126.8 -15.2 167.4 -305.5 -103.3 243.4 154.6 55.1 -317.2 5

 6 Credit market instruments 82.3 106.2 219.7 -85.7 -192.1 32.2 5.7 89.1 -175.4 6

 7 Open market paper 12.2 4.1 22.8 -21.4 -24.2 -5.3 5.9 -12.2 -1.3 7

 8 Treasury securities -20.0 -2.4 -17.9 275.6 -67.6 -28.5 89.1 63.0 -110.5 8

 9 Agency- and GSE-backed securities -6.3 37.0 177.2 -72.5 -131.8 38.9 -2.1 21.9 -55.4 9

 10 Municipal securities 10.9 8.0 -0.7 -11.4 -3.3 4.6 -9.1 -4.3 -8.0 10

 11 Corporate and foreign bonds 77.7 39.8 27.3 -259.0 47.5 35.2 -85.0 35.5 -11.1 11

 12 Other loans and advances 7.7 19.8 11.1 3.1 -12.7 -12.7 6.9 -14.8 10.9 12

 13 Corporate equities 20.1 -0.2 25.4 -28.5 -4.6 -18.5 -5.0 9.7 18.6 13

 14 Security credit -31.6 59.7 33.4 -160.7 38.1 75.2 -39.3 64.9 35.4 14

 15 U.S. direct investment abroad -5.7 15.6 24.4 13.3 12.5 8.7 4.9 6.7 9.2 15

 16 Miscellaneous assets 223.4 409.5 22.9 -628.4 42.4 -112.9 -106.6 -68.1 147.7 16

 17 Net increase in liabilities 400.7 570.6 560.9 -988.6 -305.9 220.4 69.4 120.5 -329.1 17

 18 Security repurchase agreements 369.8 386.7 265.5 -865.4 -296.8 195.9 70.5 131.2 -439.3 18

 19 Credit market instruments 0.1 6.4 -4.0 77.7 -49.7 36.9 -37.9 -1.7 22.2 19

 20 Corporate bonds 0.1 6.4 -4.0 32.3 -4.2 36.9 -37.9 -1.7 22.2 20

 21 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 45.5 -45.5 0.0 0.0 0.0 0.0 21

 22 Corporate equity issues 3.3 -7.6 32.3 120.2 -32.4 -11.1 14.1 -50.7 -31.0 22

 23 Trade payables 7.0 5.2 -2.4 -24.7 48.9 -52.0 -3.8 -0.0 0.3 23

 24 Security credit -4.5 88.2 220.4 -192.2 -43.5 29.8 31.9 32.8 68.9 24

 25 From households -11.8 77.2 216.4 -179.6 -35.7 23.5 0.9 42.0 58.5 25

 26 From U.S.-chartered depository institutions -1.1 6.0 -1.9 -2.2 -3.4 3.2 12.2 -1.9 7.9 26

 27 From foreign banking offices in U.S. 8.4 5.1 5.9 -10.4 -4.5 3.1 18.8 -7.3 2.5 27

 28 Taxes payable -0.1 0.7 -0.6 0.3 3.2 -2.1 -1.1 0.5 0.6 28

 29 Foreign direct investment in U.S. -2.6 -5.1 9.0 55.8 2.1 13.2 18.2 9.4 11.6 29

 30 Miscellaneous liabilities 28.8 102.9 37.2 -171.9 61.7 9.0 -19.4 -7.7 41.3 30

 31 Investment by parent companies 133.9 49.8 16.4 104.6 -166.8 -51.2 40.4 71.3 72.6 31

 32 Other -105.0 53.2 20.8 -276.6 228.6 60.2 -59.8 -79.0 -31.3 32

 33 Proprietors’ net investment -1.2 -6.8 3.6 11.6 0.6 0.9 -2.9 6.7 -3.9 33

 34 Discrepancy -10.1 -24.5 -3.3 72.7 -56.3 -6.0 30.5 -43.0 -30.2 34

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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36 Historical Annuals, 2005-2013, September 18, 2014

F.129 Holding Companies (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross saving 105.9 109.0 102.6 71.4 85.6 94.6 130.8 162.5 146.8 1

 2 Fixed nonresidential investment 20.6 20.1 26.6 35.1 35.9 31.9 37.0 41.6 43.2 2

 3 Net acquisition of financial assets 55.3 249.8 203.3 289.1 87.3 -4.6 44.6 -75.5 311.7 3

 4 Time and savings deposits -0.4 -0.0 -0.7 -0.1 -3.9 -1.3 2.4 -0.3 1.5 4

 5 Federal funds and security repos 6.4 1.0 -2.6 -6.6 19.8 2.1 0.2 -49.3 -2.8 5

 6 Credit market instruments -4.2 3.3 23.2 13.9 -16.0 22.1 3.1 -50.1 56.2 6

 7 Treasury securities -0.9 1.4 4.6 -4.0 2.7 13.8 7.1 -30.6 8.5 7

 8 Agency- and GSE-backed securities -2.3 -0.0 -1.3 15.9 -7.0 -3.2 12.0 -24.3 13.5 8

 9 Corporate and foreign bonds -3.7 4.9 19.2 -0.0 -8.4 7.3 -20.1 -11.9 37.0 9

 10 Other loans and advances 2.7 -2.9 0.7 2.0 -3.2 4.3 4.0 16.7 -2.8 10

 11 Life insurance reserves 0.0 -0.4 5.3 -1.2 2.1 3.8 2.4 7.3 5.1 11

 12 Miscellaneous assets 53.5 245.9 178.2 283.1 85.4 -31.2 36.5 16.9 251.8 12

 13 Net trans. with depository institution subs. 27.9 97.2 114.0 113.6 166.8 33.4 76.1 101.2 59.3 13

 14 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -6.8 -6.0 14

 15 Net trans. with life insurance company subs. 9.7 2.7 5.3 -12.5 9.3 22.2 9.3 10.3 3.4 15

 16 Net trans. with finance company subs. -38.9 3.2 41.5 -7.3 -23.3 -39.5 -20.3 -3.5 -15.8 16

 17 Net trans. with broker and dealer subs. 87.0 27.2 -57.5 98.2 -173.1 -24.3 -13.0 52.3 57.1 17

 18 Net trans. with foreign subs. 19.6 41.3 42.2 -9.1 23.5 10.6 30.6 -51.5 -16.9 18

 19 Other -51.8 74.2 32.7 100.1 82.3 -33.6 -46.2 -85.0 170.8 19

 20 Net increase in liabilities -25.1 166.9 128.2 247.7 33.5 -64.9 -49.3 -199.0 205.4 20

 21 Federal funds and security repos 6.2 1.1 -2.5 -7.0 -0.2 0.2 0.4 -1.2 -0.0 21

 22 Credit market instruments 50.1 75.0 151.9 97.3 -8.0 -16.5 -16.5 -99.9 0.5 22

 23 Commercial paper 4.0 20.9 35.0 -39.0 -18.1 3.9 11.1 6.2 -19.9 23

 24 Corporate bonds 44.2 47.8 94.4 123.0 7.8 -46.5 -91.6 14.1 6.7 24

 25 Depository institution loans n.e.c. 1.9 6.4 22.5 13.3 2.3 26.1 64.0 -120.2 13.8 25

 26 Corporate equity issues -20.0 -19.8 -28.0 321.4 68.6 19.8 2.9 0.6 -17.1 26

 27 Miscellaneous liabilities -61.4 110.5 6.8 -164.0 -26.9 -68.5 -36.2 -98.6 222.0 27

 28 Equity, etc. -26.4 16.6 -55.1 63.0 35.6 -22.4 6.9 -29.1 -0.1 28

 29 Other -35.0 93.9 62.0 -227.0 -62.5 -46.1 -43.1 -69.5 222.1 29

 30 Discrepancy 4.9 5.9 0.8 -5.0 -4.0 2.3 -0.2 -2.6 -2.7 30

(1) Parent-only bank holding companies and savings and loan holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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Historical Annuals, 2005-2013, September 18, 2014 37

F.130 Funding Corporations (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net acquisition of financial assets 127.1 69.7 279.5 506.7 -506.8 -166.0 -161.5 -74.8 -53.1 1

 2 Money market fund shares -2.1 -32.4 317.9 253.6 -153.7 -148.0 -89.2 -31.9 -58.8 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 -0.1 3

 4 Credit market instruments 61.3 71.0 -156.0 211.0 -311.1 39.1 -65.6 -50.1 -7.1 4

 5 Open market paper 87.0 74.7 -226.3 119.3 -276.6 50.4 -6.3 -7.4 -13.7 5

 6 Corporate and foreign bonds -29.4 -7.1 63.6 76.6 -24.7 -9.8 -57.3 -36.2 8.9 6

 7 Other loans and advances 3.6 3.4 6.7 15.1 -9.8 -1.5 -2.0 -6.5 -2.3 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 25.1 1.3 -26.4 0.0 0.0 8

 9 Miscellaneous assets 67.9 31.1 117.6 42.1 -67.2 -58.4 19.6 7.2 13.0 9

 10 Investment in foreign banking offices 21.0 8.6 43.7 35.6 -73.5 -31.5 -33.7 -11.8 -2.5 10

 11 Investment in brokers and dealers 46.9 22.6 73.9 6.4 6.3 -26.9 53.4 19.0 15.5 11

 12 Net increase in liabilities 127.1 69.7 279.5 506.7 -506.8 -166.0 -161.5 -74.8 -53.1 12

 13 Credit market instruments 104.7 29.1 114.5 466.4 -434.8 -65.3 -52.4 -23.9 27.0 13

 14 Open market paper 77.1 7.5 62.9 20.1 -125.1 -47.4 -72.7 -30.9 16.2 14

 15 Corporate bonds 27.6 21.6 51.5 1.4 37.9 -3.2 71.6 35.3 11.4 15

 16 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 444.9 -349.6 -21.9 -51.9 -21.5 0.0 16

 17 Other loans and advances (4) 0.0 0.0 0.0 0.0 2.0 7.2 0.7 -6.8 -0.7 17

 18 Corporate equities (5) 0.0 0.0 0.0 40.0 30.5 3.5 -18.4 -8.6 0.0 18

 19 Foreign direct investment in U.S. 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 19

 20 Miscellaneous liabilities 21.8 40.0 164.4 -0.4 -103.1 -104.8 -91.4 -42.9 -80.7 20

 21 Securities loaned (net) 174.9 302.6 -2.1 -353.2 -30.2 -123.5 -74.6 -79.2 94.0 21

 22 Equity interest under PPIP 0.0 0.0 0.0 0.0 2.4 7.9 1.4 0.1 0.0 22

 23 Other (net) -153.1 -262.6 166.5 352.9 -75.3 10.8 -18.1 36.2 -174.7 23

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities, and funds associated with

 the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
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38 Historical Annuals, 2005-2013, September 18, 2014

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in liabilities -14.1 -2.4 0.1 4.8 99.9 1.8 15.9 4.5 -3.1 1

 2 Federal government: SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 2

 3 Rest of the world -14.1 -2.4 0.1 4.8 52.3 1.8 15.9 4.5 -3.1 3

 4 SDR holdings -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 4

 5 Reserve position in IMF -10.2 -3.3 -1.0 3.5 3.4 1.3 18.1 4.0 -3.4 5

 6 Other reserves 0.6 0.7 1.0 1.3 0.7 0.5 -0.5 0.4 0.3 6

 7 Net change in assets -14.1 -2.4 0.1 4.8 99.9 1.8 15.9 4.5 -3.1 7

 8 Federal government -14.4 -2.7 -0.4 4.2 51.9 1.6 16.2 4.3 -3.3 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 10

 11 Reserve position in IMF -10.2 -3.3 -1.0 3.5 3.4 1.3 18.2 4.0 -3.4 11

 12 Other reserves 0.3 0.4 0.5 0.6 0.3 0.3 -0.2 0.2 0.2 12

 13 Rest of the world 0.0 0.0 0.0 0.0 47.6 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 14

 15 SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 15

 16 Monetary authority 0.3 0.3 0.5 0.6 0.3 0.3 -0.3 0.2 0.2 16

 17 Monetary gold (2) -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Reserve position in IMF 0.0 -0.0 0.0 -0.0 0.0 0.0 -0.1 0.0 0.0 18

 19 Other reserves 0.3 0.4 0.5 0.6 0.3 0.3 -0.2 0.2 0.2 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 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 0.0 -0.4 3

 4 Asset: Monetary authority 0.1 1.7 0.5 -0.0 4.0 0.9 0.7 0.6 0.7 4

 5 Discrepancy (seigniorage) 0.7 -1.1 -1.2 -0.8 -4.4 -1.1 -0.7 -0.6 -1.1 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 21.9 180.5 294.5 -331.0 -43.9 71.6 -215.0 -144.0 32.7 1

 Held by:

 2 Household sector 2.1 6.1 17.8 -17.8 -7.2 4.5 -9.9 -7.7 2.8 2

 3 Nonfinancial corporate business 9.9 -14.2 0.9 -25.5 6.8 9.1 -5.8 1.0 51.9 3

 4 Money market mutual funds 7.7 -10.0 34.4 -14.6 11.6 8.7 -62.9 0.4 -9.6 4

 5 Discrepancy--unallocated assets 2.2 198.6 241.4 -273.0 -55.1 49.2 -136.3 -137.7 -12.4 5
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Historical Annuals, 2005-2013, September 18, 2014 39

F.203 Net Interbank Transactions

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in liabilities -6.2 4.7 -50.1 1751.8 -536.9 -142.8 820.5 -194.5 1111.6 1

 2 Monetary authority 3.6 1.3 5.4 842.0 114.2 -11.1 602.3 -64.1 760.6 2

 3 U.S.-chartered depository institutions -16.3 93.7 100.3 684.2 -496.4 -201.3 -263.4 -114.2 191.0 3

 4 Foreign banking offices in U.S. -0.3 -89.1 -157.1 233.0 -152.2 30.7 504.6 -1.9 157.6 4

 5 Banks in U.S.-affiliated areas 0.5 0.1 0.3 -0.6 -1.0 0.9 -1.2 -0.4 0.2 5

 6 Credit unions 6.4 -1.4 1.0 -6.8 -1.6 38.1 -21.9 -13.8 2.2 6

 7 Net change in assets -7.1 5.3 -55.3 1706.9 -551.4 -168.7 817.0 -200.1 1054.8 7

 8 Rest of the world -10.6 5.3 -109.5 355.4 -201.9 -61.8 213.9 -136.0 294.7 8

 9 Monetary authority -0.0 -1.2 48.9 509.6 -463.7 -95.7 0.8 0.0 -0.5 9

 10 U.S.-chartered depository institutions 3.5 1.7 5.1 600.5 41.6 -87.8 231.0 6.9 456.9 10

 11 Foreign banking offices in U.S. 0.2 -0.3 0.4 238.0 45.1 66.7 360.2 -72.2 309.3 11

 12 Credit unions -0.1 -0.1 -0.1 3.5 27.5 10.0 11.1 1.2 -5.7 12

 13 Discrepancy 0.9 -0.7 5.2 44.8 14.5 25.8 3.5 5.7 56.8 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 8.6 1.6 3.3 2.7 -2.8 -2.2 8.1 7.1 2.6 14

 15 Asset: U.S.-chartered depository institutions 8.6 1.6 3.3 2.7 -2.8 -2.2 8.1 7.1 2.5 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority -5.0 -0.3 2.1 839.2 117.0 -8.9 594.2 -71.2 758.0 17

 18 Asset: U.S.-chartered depository institutions -5.1 0.1 1.8 597.7 44.4 -85.6 222.9 -0.2 454.4 18

 19 Foreign banking offices in U.S. 0.2 -0.3 0.4 238.0 45.1 66.7 360.2 -72.2 309.3 19

 20 Credit unions -0.1 -0.1 -0.1 3.5 27.5 10.0 11.1 1.2 -5.7 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions -0.0 -1.2 48.9 509.6 -463.7 -95.7 0.8 0.0 -0.5 21

 22 Asset: Monetary authority -0.0 -1.2 48.9 509.6 -463.7 -95.7 0.8 0.0 -0.5 22

 23 Federal Reserve float -0.0 -1.2 0.3 -1.5 -0.6 0.7 0.8 0.1 -0.5 23

 24 Loans 0.0 -0.0 48.6 511.1 -463.1 -96.4 -0.0 -0.1 0.0 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) -19.4 98.9 49.8 104.8 -53.5 -78.4 -309.3 -87.8 153.5 25

 26 Due to foreign affiliates 21.5 98.5 73.8 168.6 -50.2 21.5 -222.2 -199.0 103.7 26

 27 - Due from foreign affiliates 40.9 -0.4 24.0 63.8 3.4 99.9 87.1 -111.1 -49.8 27

 28 Foreign banking offices in U.S. (net) -9.1 -107.4 -142.2 236.6 -149.6 37.0 512.1 -51.6 140.4 28

 29 Due to foreign affiliates 102.8 98.0 78.9 48.3 -25.6 53.8 296.7 -90.0 125.8 29

 30 - Due from foreign affiliates 111.9 205.4 221.1 -188.3 124.0 16.8 -215.4 -38.3 -14.6 30

 31 Less: Deposits at foreign banks -10.9 -10.4 12.7 -4.3 -9.6 13.6 -12.4 -2.6 -0.3 31

 32 U.S.-chartered depository institutions -12.5 -1.1 7.9 5.2 -15.3 6.9 -4.0 -3.3 0.4 32

 33 Foreign banking offices in U.S. 1.6 -9.3 4.8 -9.5 5.7 6.6 -8.4 0.7 -0.8 33

 34 Plus: Loans from foreign banks 6.9 3.3 -4.5 9.7 -8.4 -6.8 -1.3 0.8 0.5 34

 35 U.S.-chartered depository institutions 2.1 2.4 0.3 4.0 -2.0 -3.4 0.4 -0.2 -0.1 35

 36 Foreign banking offices in U.S. 4.8 1.0 -4.7 5.7 -6.4 -3.4 -1.7 1.1 0.5 36

 37 Asset: Rest of the world (1) -10.6 5.3 -109.5 355.4 -201.9 -61.8 213.9 -136.0 294.7 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) -11.5 -7.4 9.2 71.0 7.5 -16.8 40.8 -29.5 38.5 38

 39 Due to (3): -14.6 -0.7 1.1 53.1 -1.8 -14.0 21.7 23.0 52.1 39

 40 Foreign banking offices in U.S. -8.7 -1.3 -2.8 0.9 -18.8 -0.8 -4.9 3.1 -2.3 40

 41 Banks in U.S.-affiliated areas -0.5 -0.1 -0.3 0.6 1.0 -0.9 1.2 0.4 -0.2 41

 42 Credit unions -6.4 1.4 -1.0 6.8 1.6 -38.1 21.9 13.8 -2.2 42

 43 - Due from: Foreign banking offices in U.S. -3.1 6.8 -8.2 -17.9 -9.3 2.9 -19.1 52.5 13.6 43

 44 Unallocated (2) 0.9 -0.7 5.2 44.8 14.5 25.8 3.5 5.7 56.8 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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40 Historical Annuals, 2005-2013, September 18, 2014

F.204 Checkable Deposits and Currency

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in liabilities 4.4 -19.9 36.7 568.4 -7.9 266.3 234.5 267.7 332.6 1

 2 Monetary authority 30.1 23.5 17.8 428.2 -117.6 185.0 -122.1 62.1 139.5 2

 3 Federal government cash and deposits -1.4 0.2 11.4 349.3 -173.8 149.0 -255.0 7.0 69.8 3

 4 Due to government-sponsored enterprises 0.9 -1.2 0.9 19.4 14.0 -21.6 51.1 -37.4 -1.3 4

 5 Deposits due to foreign 0.0 0.0 -0.0 1.3 1.0 0.9 -3.2 6.3 1.5 5

 6 Currency outside banks 30.6 24.5 5.5 58.2 41.2 56.7 85.0 86.2 69.5 6

 7 U.S.-chartered depository institutions -33.0 -35.7 13.5 137.9 94.0 69.6 319.4 176.2 148.2 7

 8 Federal government deposits 7.0 -5.9 14.9 -39.5 0.3 -0.1 -2.7 0.3 0.3 8

 9 Deposits due to foreign 6.2 9.4 5.0 31.2 -28.7 -3.8 25.6 -4.2 -1.7 9

 10 Private domestic deposits -46.1 -39.2 -6.3 146.2 122.4 73.5 296.5 180.1 149.6 10

 11 Foreign banking offices in U.S. 0.5 -0.0 2.6 1.7 2.6 5.7 23.7 16.2 30.8 11

 12 Deposits due to foreign 0.2 -0.2 0.3 2.4 5.8 4.1 4.4 8.9 12.3 12

 13 Private domestic deposits 0.3 0.2 2.3 -0.7 -3.2 1.7 19.3 7.3 18.5 13

 14 Banks in U.S.-affiliated areas -0.2 0.7 1.7 -1.1 1.4 0.5 2.8 2.5 6.3 14

 15 Credit unions 7.0 -8.5 1.1 1.6 11.6 5.5 10.7 10.7 7.9 15

 16 Net change in assets 4.4 -19.9 36.7 568.4 -7.9 266.3 234.5 267.7 332.6 16

 17 Household sector -113.9 -40.0 -75.3 176.8 101.0 38.9 328.5 160.6 135.9 17

 18 Nonfinancial business 137.5 -42.5 59.3 -55.2 85.6 76.8 27.3 30.1 74.2 18

 19 Corporate 60.8 -117.2 -7.6 -59.0 70.8 79.6 29.7 15.2 77.9 19

 20 Noncorporate 76.7 74.7 66.9 3.8 14.9 -2.7 -2.4 14.9 -3.7 20

 21 State and local governments 15.8 5.4 -0.4 8.3 19.6 5.7 16.6 -9.4 6.7 21

 22 Federal government 12.2 -2.7 25.1 313.1 -174.2 148.9 -257.6 6.7 69.6 22

 23 Rest of the world 14.9 11.4 -5.4 64.0 -9.2 29.5 81.8 68.2 49.9 23

 24 Checkable deposits 6.4 9.2 5.2 34.8 -21.8 1.2 26.8 11.0 12.2 24

 25 Currency 8.4 2.2 -10.7 29.2 12.6 28.3 55.0 57.1 37.7 25

 26 Financial sectors -57.0 51.4 32.4 66.6 -30.4 -32.3 37.2 10.1 -2.9 26

 27 Property-casualty insurance companies -4.8 8.9 12.8 -14.8 -0.3 5.0 -8.5 12.3 -6.7 27

 28 Life insurance companies -5.5 8.3 2.3 24.4 -32.1 1.0 2.0 2.7 -9.2 28

 29 Private pension funds 0.3 0.4 1.3 -5.6 -2.8 2.1 5.6 -1.7 0.1 29

 30 State and local govt. retirement funds -6.7 -2.8 0.4 0.1 -0.4 0.5 0.4 0.3 0.7 30

 31 Money market mutual funds -1.7 7.5 -4.7 5.6 10.5 -3.7 5.8 -3.6 -3.2 31

 32 Government-sponsored enterprises -24.5 1.8 -2.7 39.7 11.1 -36.0 9.3 -20.1 29.0 32

 33 Finance companies -8.9 -1.6 0.4 0.3 0.5 -1.7 5.1 -3.8 4.2 33

 34 REITs 1.4 4.9 -1.8 1.8 12.4 -5.7 2.5 7.7 -1.3 34

 35 Brokers and dealers -6.4 24.0 24.5 15.1 -29.4 6.2 14.9 16.3 -16.5 35

 36 Mail float -4.9 -3.0 1.0 -5.2 -0.3 -1.1 0.8 1.5 -0.7 36
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Historical Annuals, 2005-2013, September 18, 2014 41

F.205 Time and Savings Deposits

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in liabilities 609.9 636.1 608.8 342.4 343.7 115.6 404.1 520.4 409.1 1

 2 Small time and savings deposits 314.4 347.0 316.4 524.8 517.2 298.3 577.4 539.6 307.0 2

 3 U.S.-chartered depository institutions 296.9 306.7 282.7 480.6 472.3 271.7 537.1 491.5 256.7 3

 4 Foreign banking offices in U.S. 0.5 8.6 6.9 0.1 4.4 5.8 13.2 13.8 27.7 4

 5 Banks in U.S.-affiliated areas 4.9 1.2 1.1 1.1 -2.9 -5.2 -0.4 -0.1 2.5 5

 6 Credit unions 12.1 30.5 25.8 43.0 43.4 26.1 27.4 34.4 20.1 6

 7 Large time deposits (1) 295.4 289.2 292.3 -182.4 -173.6 -182.7 -173.3 -19.2 102.1 7

 8 U.S.-chartered depository institutions 211.2 139.3 17.2 -63.9 -335.7 -133.8 -13.2 -9.1 23.9 8

 9 Foreign banking offices in U.S. 76.7 146.1 269.2 -120.0 148.0 -46.5 -163.1 -16.2 71.1 9

 10 Banks in U.S.-affiliated areas 4.9 1.2 1.1 1.1 -2.9 -5.2 -0.4 -0.1 2.5 10

 11 Credit unions 2.5 2.5 4.8 0.5 17.0 2.8 3.4 6.2 4.7 11

 12 Net change in assets 609.9 636.1 608.8 342.4 343.7 115.6 404.1 520.4 409.1 12

 13 Household sector 481.5 486.5 483.6 261.0 105.9 162.8 371.4 413.5 206.4 13

 14 Nonfinancial business 73.4 66.9 -40.7 -130.7 172.1 62.8 17.1 41.8 58.4 14

 15 Corporate 49.9 46.6 -55.7 -129.4 176.9 59.9 13.2 36.8 50.8 15

 16 Noncorporate 23.5 20.3 14.9 -1.2 -4.8 2.9 3.9 5.0 7.6 16

 17 State and local governments 3.0 17.1 32.8 17.8 10.0 -5.9 15.6 19.6 12.4 17

 18 Federal government -1.0 0.2 1.2 -1.3 0.3 0.1 -0.3 0.2 -0.5 18

 19 Rest of the world 20.6 34.0 36.7 73.4 -73.3 4.9 47.3 37.9 50.1 19

 20 Financial sectors 32.4 31.4 95.2 122.0 128.6 -109.1 -47.1 7.4 82.3 20

 21 Private pension funds 6.2 1.0 3.8 -4.5 2.9 -0.6 1.6 -3.9 -0.3 21

 22 State and local govt. retirement funds 9.7 8.7 3.5 1.3 0.9 5.4 2.5 -0.6 8.0 22

 23 Money market mutual funds 14.0 28.0 74.7 102.7 169.9 -107.7 -56.3 32.8 59.4 23

 24 Government-sponsored enterprises 12.1 -1.5 12.8 21.9 -42.8 0.3 -12.7 -9.1 1.1 24

 25 Finance companies -9.1 -4.8 1.2 0.8 1.6 -5.2 15.4 -11.5 12.7 25

 26 Holding companies -0.4 -0.0 -0.7 -0.1 -3.9 -1.3 2.4 -0.3 1.5 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 125.1 303.1 736.8 724.2 -498.7 -503.2 -112.8 7.1 28.7 1

 2 Net purchases 125.1 303.1 736.8 724.2 -498.7 -503.2 -112.8 7.1 28.7 2

 3 Household sector 44.4 218.0 239.3 234.5 -267.3 -183.0 -15.2 9.0 21.3 3

 4 Nonfinancial corporate business 52.7 69.1 127.2 178.5 -71.4 -157.7 -35.4 18.2 40.6 4

 5 Nonfinancial noncorporate business 2.4 3.2 2.2 1.0 -1.7 3.1 0.8 1.1 1.6 5

 6 State and local governments 13.6 15.4 18.0 2.8 10.0 14.1 3.7 7.9 4.7 6

 7 Rest of the world 0.1 4.1 19.0 23.7 7.2 -7.1 4.6 22.6 16.4 7

 8 Property-casualty insurance companies -0.7 0.7 7.2 12.1 -3.2 -4.0 -5.6 2.2 -2.3 8

 9 Life insurance companies -3.7 9.7 -1.6 17.5 -5.5 -12.7 7.9 -1.4 -5.9 9

 10 Private pension funds 1.9 3.4 6.9 5.1 -9.6 -10.2 16.5 -17.1 2.2 10

 11 State and local govt. retirement funds 16.6 12.0 0.8 -4.8 -3.4 2.3 -1.0 -3.5 8.9 11

 12 Funding corporations -2.1 -32.4 317.9 253.6 -153.7 -148.0 -89.2 -31.9 -58.8 12
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42 Historical Annuals, 2005-2013, September 18, 2014

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in liabilities 470.8 541.3 426.5 -1393.6 -346.6 421.3 276.2 251.3 -477.1 1

 2 Rest of the world -7.1 55.9 123.2 -382.8 86.0 207.9 96.4 40.4 -83.5 2

 3 Monetary authority -0.3 -0.9 14.4 44.4 -10.6 -18.0 40.2 7.3 208.7 3

 4 U.S.-chartered depository institutions 41.6 26.9 56.0 -9.7 -195.0 -48.1 -81.5 -52.6 -84.7 4

 5 Foreign banking offices in U.S. 42.1 57.3 -21.5 -156.7 63.5 54.8 54.4 20.6 -12.3 5

 6 Credit unions -0.4 0.0 0.0 2.4 -2.4 0.0 0.0 0.0 0.0 6

 7 Property-casualty insurance companies 0.1 -0.1 -0.7 1.9 -1.7 0.8 -1.1 0.4 1.4 7

 8 Life insurance companies 7.4 0.3 -1.1 -7.3 -0.5 -2.2 0.1 3.1 -0.8 8

 9 Government-sponsored enterprises -1.9 -0.4 -0.6 -1.0 -0.1 0.1 -0.9 -0.4 0.0 9

 10 REITs 13.2 14.4 -6.2 -12.3 11.1 29.9 97.7 102.4 -66.6 10

 11 Brokers and dealers 369.8 386.7 265.5 -865.4 -296.8 195.9 70.5 131.2 -439.3 11

 12 Holding companies 6.2 1.1 -2.5 -7.0 -0.2 0.2 0.4 -1.2 -0.0 12

 13 Net change in assets 342.6 247.3 636.7 -1140.5 -553.7 366.3 207.5 260.9 -310.2 13

 14 Nonfinancial corporate business 8.1 1.0 -7.5 -0.9 0.7 4.3 0.4 -2.8 -0.9 14

 15 State and local governments 5.7 5.7 6.4 -11.9 -4.1 -1.1 -3.4 6.7 4.2 15

 16 Rest of the world 41.4 59.7 72.6 -629.7 -54.8 92.4 92.6 -6.6 62.1 16

 17 Monetary authority 13.8 -6.0 5.8 33.5 -80.0 0.0 0.0 0.0 0.0 17

 18 U.S.-chartered depository institutions -20.9 71.1 142.8 54.9 -308.2 0.7 -25.0 61.1 -87.9 18

 19 Foreign banking offices in U.S. 38.8 59.2 17.2 -177.5 0.1 20.3 31.7 58.2 -1.2 19

 20 Credit unions 2.2 -1.6 -2.6 -2.4 0.0 -0.1 15.9 -6.2 -9.6 20

 21 Property-casualty insurance companies 0.6 -0.7 1.7 0.8 0.1 -0.7 -2.1 0.0 0.0 21

 22 Life insurance companies -1.0 -0.1 0.2 5.2 2.2 0.7 -0.8 -1.6 -0.0 22

 23 Private pension funds 1.1 1.0 0.2 -1.0 0.2 -0.2 0.0 -0.3 -0.1 23

 24 State and local govt. retirement funds -8.8 -3.9 0.2 -0.2 -0.1 0.3 0.1 -0.1 0.7 24

 25 Money market mutual funds 111.8 49.2 211.1 -63.5 -62.4 -0.6 11.1 54.2 -51.7 25

 26 Mutual funds 2.8 17.4 -0.6 -7.4 28.6 -15.8 -28.8 54.1 92.9 26

 27 Government-sponsored enterprises 13.9 9.3 24.5 -28.3 7.5 20.7 -38.9 38.6 1.5 27

 28 Brokers and dealers 126.8 -15.2 167.4 -305.5 -103.3 243.4 154.6 55.1 -317.2 28

 29 Holding companies 6.4 1.0 -2.6 -6.6 19.8 2.1 0.2 -49.3 -2.8 29

 30 Funding corporations 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 -0.1 30

 31 Discrepancy 128.2 294.0 -210.2 -253.1 207.1 55.0 68.7 -9.6 -167.0 31
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Historical Annuals, 2005-2013, September 18, 2014 43

F.208 Open Market Paper

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total net issues, all types 245.1 317.2 -169.5 -188.8 -461.8 -80.4 -88.3 -16.9 -0.8 1

 2 Commercial paper 245.1 317.4 -169.4 -188.8 -461.9 -79.9 -88.2 -16.8 -0.8 2

 3 Nonfinancial corporate business -7.7 22.4 11.3 7.7 -73.1 24.5 33.4 14.0 14.2 3

 4 Foreign issues in U.S. 38.6 98.4 -69.3 -71.0 59.4 -2.7 -53.5 27.9 34.0 4

 5 Nonfinancial 15.7 -1.9 2.0 20.7 -15.2 -3.8 -0.5 10.3 11.2 5

 6 Financial 22.9 100.3 -71.3 -91.7 74.5 1.1 -53.0 17.6 22.8 6

 7 Financial sectors 214.2 196.6 -111.4 -125.4 -448.2 -101.7 -68.1 -58.7 -48.9 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 -19.7 7.7 -33.1 -27.8 8

 9 ABS issuers 148.3 162.9 -194.2 -83.9 -266.2 -40.3 -24.1 -9.0 -7.1 9

 10 Finance companies -15.3 5.3 -15.1 -22.6 -38.8 1.7 10.0 8.2 -10.3 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 4.0 20.9 35.0 -39.0 -18.1 3.9 11.1 6.2 -19.9 12

 13 Funding corporations 77.1 7.5 62.9 20.1 -125.1 -47.4 -72.7 -30.9 16.2 13

 14 Bankers’ acceptances (1) 0.0 -0.2 -0.1 0.0 0.1 -0.5 -0.1 -0.1 -0.0 14

 15 U.S.-chartered depository institutions -0.0 0.1 -0.1 0.2 0.1 -0.5 -0.1 -0.1 -0.0 15

 16 Foreign banking offices in U.S. 0.0 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 16

 17 Net purchases, by sector 245.1 317.2 -169.5 -188.8 -461.8 -80.4 -88.3 -16.9 -0.8 17

 18 Household sector 14.7 19.0 -10.2 -101.3 16.7 -1.5 -1.8 -0.6 -3.8 18

 19 Nonfinancial corporate business 16.0 11.7 -53.2 -12.2 -1.3 12.0 -0.1 -8.0 -21.8 19

 20 State and local governments -0.1 -1.4 -2.2 -21.9 -39.0 13.2 -11.1 -5.9 -8.1 20

 21 Rest of the world 20.8 54.9 16.5 -59.0 -48.4 -10.7 0.7 -0.1 -1.4 21

 22 Monetary authority 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) 0.0 0.0 0.0 15.7 -15.7 0.0 0.0 0.0 0.0 23

 24 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Credit unions -0.0 0.2 -0.5 -0.4 0.0 0.0 0.0 0.0 0.0 25

 26 Property-casualty insurance companies 3.5 0.6 -3.1 5.8 -9.3 -1.9 0.9 -1.4 0.7 26

 27 Life insurance companies -3.0 4.3 13.1 -3.4 11.5 -8.9 -11.2 13.9 3.2 27

 28 Private pension funds 1.9 0.6 3.5 -6.2 1.7 -2.0 2.4 -4.9 -3.4 28

 29 State and local govt. retirement funds -3.2 1.2 1.5 0.7 -0.8 4.5 2.1 -1.3 8.9 29

 30 Money market mutual funds 84.4 111.4 73.7 -56.1 -108.0 -116.3 -40.0 -13.3 11.3 30

 31 Mutual funds 2.9 17.4 -0.4 -62.5 28.6 -13.9 -26.3 27.6 27.7 31

 32 Government-sponsored enterprises 8.0 18.5 -4.7 14.1 3.0 0.2 -3.4 -3.1 1.0 32

 33 Brokers and dealers 12.2 4.1 22.8 -21.4 -24.2 -5.3 5.9 -12.2 -1.3 33

 34 Funding corporations 87.0 74.7 -226.3 119.3 -276.6 50.4 -6.3 -7.4 -13.7 34

(1) Excludes banks’ holdings of own acceptances.
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44 Historical Annuals, 2005-2013, September 18, 2014

F.209 Treasury Securities

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net issues 307.3 183.7 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 759.5 1

 2 U.S. savings securities (1) 0.7 -2.7 -6.0 -2.4 -2.8 -3.3 -2.7 -2.8 -3.3 2

 3 Treasury bills -40.5 -19.9 58.8 861.6 -73.3 -19.0 -249.5 107.0 -35.9 3

 4 Other Treasury securities 347.1 206.4 184.7 379.7 1519.8 1601.8 1319.0 1036.3 798.7 4

 5 Net purchases 307.3 183.7 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 759.5 5

 6 Household sector -121.3 -103.7 -37.9 146.1 533.1 320.4 -229.3 211.7 -188.1 6

 7 U.S. savings securities (1) 0.7 -2.7 -6.0 -2.4 -2.8 -3.3 -2.7 -2.8 -3.3 7

 8 Bills and other Treasury securities -122.0 -101.0 -32.0 148.5 535.9 323.7 -226.6 214.5 -184.8 8

 9 Nonfinancial corporate business 18.1 -6.7 -7.1 -7.9 12.5 5.1 -5.1 -3.4 0.7 9

 10 Nonfinancial noncorporate business 6.0 0.2 3.0 -7.5 -5.7 1.9 0.5 0.7 1.0 10

 11 State and local governments 107.3 58.4 77.8 -46.0 -16.9 7.8 -31.8 46.2 -14.5 11

 12 Rest of the world 245.1 150.3 165.3 711.6 554.4 740.4 355.3 589.7 431.3 12

 13 Treasury bills -58.9 -11.4 49.4 455.3 -7.6 -40.2 -62.6 14.0 24.4 13

 14 Other Treasury securities 304.1 161.7 115.9 256.3 562.0 780.5 417.9 575.8 406.9 14

 15 Monetary authority 26.4 34.7 -38.3 -264.7 300.7 244.9 642.0 2.7 542.6 15

 16 Treasury bills 8.3 5.7 -49.2 -209.4 0.0 0.0 0.0 -18.4 0.0 16

 17 Other Treasury securities 18.1 29.0 10.9 -55.3 300.7 244.9 642.0 21.1 542.6 17

 18 U.S.-chartered depository institutions -6.1 2.2 5.6 -23.7 68.1 93.0 -43.7 69.3 -26.1 18

 19 Foreign banking offices in U.S. 0.1 -1.0 3.6 5.1 22.0 3.5 -0.5 16.1 -9.6 19

 20 Banks in U.S.-affiliated areas 0.1 -0.2 -1.9 -0.6 -0.7 0.6 -0.0 -0.6 0.7 20

 21 Credit unions -1.1 -0.3 3.0 -1.6 5.4 5.9 -2.5 1.7 -0.2 21

 22 Property-casualty insurance companies 0.3 3.1 -38.7 -5.6 22.9 3.2 4.6 -6.7 6.0 22

 23 Treasury bills 2.4 -3.5 -18.0 -5.4 5.0 -0.3 1.9 -3.3 9.4 23

 24 Other Treasury securities -2.0 6.6 -20.7 -0.3 18.0 3.5 2.7 -3.4 -3.4 24

 25 Life insurance companies 13.5 -7.6 -17.3 35.1 27.7 23.2 18.8 5.5 -12.2 25

 26 Treasury bills 0.8 0.4 -2.4 17.8 -6.3 -3.6 3.8 -4.5 -2.8 26

 27 Other Treasury securities 12.7 -8.0 -14.9 17.3 34.0 26.8 15.0 10.0 -9.4 27

 28 Private pension funds 3.4 14.5 0.5 5.1 32.8 31.3 27.0 44.4 36.1 28

 29 State and local govt. retirement funds 5.1 -0.6 -7.4 -13.4 24.8 10.7 11.6 19.1 13.3 29

 30 Federal government retirement funds 7.6 8.5 11.3 24.7 7.4 10.1 23.4 12.1 12.4 30

 31 Money market mutual funds -14.2 -5.9 95.5 399.5 -171.3 -71.0 107.9 14.5 30.4 31

 32 Treasury bills -13.5 -6.5 73.6 341.9 -160.2 -84.0 29.1 19.1 6.7 32

 33 Other Treasury securities -0.8 0.5 21.9 57.7 -11.0 13.0 78.8 -4.7 23.6 33

 34 Mutual funds 13.0 0.7 2.9 18.5 74.0 121.2 74.6 120.6 52.6 34

 35 Treasury bills 0.0 0.0 0.0 0.0 0.0 -1.6 0.3 12.2 -8.8 35

 36 Other Treasury securities 13.0 0.7 2.9 18.5 74.0 122.8 74.3 108.4 61.4 36

 37 Closed-end funds 0.3 0.2 -1.7 -2.4 1.2 0.7 -0.3 0.3 0.6 37

 38 Exchange-traded funds 4.8 3.4 6.6 7.4 14.7 9.2 11.4 1.2 -6.5 38

 39 Government-sponsored enterprises 0.2 1.2 1.3 1.2 19.9 45.9 17.6 -31.2 -9.9 39

 40 ABS issuers 19.7 33.4 24.7 -13.6 -18.3 -13.8 -10.9 -5.8 1.0 40

 41 Brokers and dealers -20.0 -2.4 -17.9 275.6 -67.6 -28.5 89.1 63.0 -110.5 41

 42 Holding companies -0.9 1.4 4.6 -4.0 2.7 13.8 7.1 -30.6 8.5 42

 Memo:

 43 Federal government borrowing (2) 306.9 183.4 237.1 1239.2 1443.9 1580.2 1067.9 1140.2 759.1 43

(1) Includes U.S. savings bonds, U.S. individual retirement bonds, U.S. retirement plan bonds, U.S. savings stamps, and matured U.S. savings securities.

(2) Total issues of Treasury securities (line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 11).
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Historical Annuals, 2005-2013, September 18, 2014 45

F.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net issues 80.0 327.9 905.3 768.9 -59.9 -46.2 -20.8 -22.8 239.5 1

 2 Budget agencies -0.4 -0.3 -0.4 0.2 0.1 0.7 1.1 -0.4 -0.4 2

 3 Government-sponsored enterprises -84.0 35.6 279.7 261.3 -518.4 -233.8 -187.2 -154.6 107.5 3

 4 Agency- and GSE-backed mortgage pools 164.5 292.6 626.0 507.4 458.3 186.9 165.3 132.2 132.4 4

 5 Net purchases 80.0 327.9 905.3 768.9 -59.9 -46.2 -20.8 -22.8 239.5 5

 6 Household sector 148.4 -23.3 339.6 239.9 -670.9 -10.0 -11.3 -136.7 -94.7 6

 7 Nonfinancial corporate business 6.0 -2.2 -2.4 -2.6 4.2 1.7 -1.7 -1.1 -3.8 7

 8 State and local governments 35.7 39.1 45.1 -17.7 10.3 23.7 -6.8 -2.3 -13.8 8

 9 Federal government 0.0 0.0 0.0 54.4 142.0 -47.2 -118.1 -31.1 0.0 9

 10 Rest of the world 139.8 217.1 239.5 -231.9 -226.0 -66.6 -41.6 -73.6 -84.7 10

 11 Monetary authority 0.0 0.0 0.0 19.7 1048.5 71.4 -197.9 61.8 543.9 11

 12 U.S.-chartered depository institutions 52.5 34.2 -111.0 136.2 168.0 110.1 106.9 35.5 47.7 12

 13 Foreign banking offices in U.S. -0.9 4.2 2.0 -6.5 -19.3 -4.8 4.0 1.5 -6.7 13

 14 Banks in U.S.-affiliated areas 1.2 -5.8 -2.7 -2.0 -3.9 -7.7 -8.0 -2.2 -0.8 14

 15 Credit unions -6.8 -13.9 -4.1 14.4 27.8 40.9 30.6 14.9 2.2 15

 16 Property-casualty insurance companies 5.8 4.1 3.8 -11.5 1.9 -0.4 6.9 -8.4 -5.6 16

 17 Life insurance companies 11.4 8.8 5.5 -16.7 5.8 4.0 -1.6 -13.5 -6.8 17

 18 Private pension funds 17.9 16.2 3.7 -1.8 -6.5 6.5 4.3 22.1 15.2 18

 19 State and local govt. retirement funds -48.8 10.5 -1.5 -26.8 -3.8 0.9 12.3 20.9 13.5 19

 20 Federal government retirement funds 0.0 -0.2 -0.2 -0.2 0.0 0.6 0.7 1.5 -1.7 20

 21 Money market mutual funds -107.9 -28.2 102.0 520.3 -213.1 -140.2 0.9 -60.2 17.6 21

 22 Mutual funds 14.4 20.0 79.6 -23.4 50.0 78.1 106.2 89.4 -21.6 22

 23 Government-sponsored enterprises -135.4 -37.1 -11.1 207.0 -27.4 -85.1 -18.1 -48.3 -22.7 23

 24 ABS issuers -40.7 22.6 18.1 -26.0 -224.2 -96.0 -3.3 -0.0 -0.2 24

 25 REITs -4.0 24.8 23.5 0.7 15.6 38.2 104.7 109.5 -95.6 25

 26 Brokers and dealers -6.3 37.0 177.2 -72.5 -131.8 38.9 -2.1 21.9 -55.4 26

 27 Holding companies -2.3 -0.0 -1.3 15.9 -7.0 -3.2 12.0 -24.3 13.5 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 43.
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46 Historical Annuals, 2005-2013, September 18, 2014

F.211 Municipal Securities and Loans

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in liabilities 198.1 170.0 235.5 92.4 155.3 99.7 -52.8 -4.9 -43.2 1

 2 State and local governments 141.1 100.3 146.0 17.1 112.2 68.7 -53.6 -5.7 -39.4 2

 3 Short-term (1) -1.7 -8.2 16.8 4.6 7.8 -0.7 -10.6 3.8 -10.9 3

 4 Long-term 142.8 108.5 129.2 12.5 104.4 69.3 -42.9 -9.4 -28.6 4

 5 Nonprofit organizations (2) 15.1 16.4 21.1 9.3 5.9 -2.2 -7.8 -14.5 -13.1 5

 6 Nonfinancial corporate business 41.9 53.3 68.4 66.0 37.2 33.2 8.5 15.2 9.3 6

 (industrial revenue bonds)

 7 Net change in assets 198.1 170.0 235.5 92.4 155.3 99.7 -52.8 -4.9 -43.2 7

 8 Household sector 77.8 34.7 37.9 47.3 107.1 43.6 -65.6 -144.9 -43.3 8

 9 Nonfinancial corporate business 0.3 -4.0 1.1 -3.0 0.9 -3.2 -1.6 1.7 -11.9 9

 10 Nonfinancial noncorporate business 0.1 1.3 -0.5 -0.4 0.2 0.5 0.1 0.1 0.1 10

 11 State and local governments 1.2 1.4 1.7 0.4 1.0 1.4 0.4 0.5 0.2 11

 12 Rest of the world 3.0 5.4 10.7 5.9 7.7 13.1 0.6 -0.6 4.3 12

 13 U.S.-chartered depository institutions 18.3 24.2 11.9 19.9 2.4 30.3 42.6 67.8 53.8 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 14

 15 Banks in U.S.-affiliated areas 0.2 0.8 0.7 0.5 0.9 -0.9 0.9 -0.8 0.9 15

 16 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 3.2 1.0 0.3 16

 17 Property-casualty insurance companies 45.4 22.1 36.1 10.6 -12.6 -21.0 -17.4 -2.9 -2.3 17

 18 Life insurance companies 2.4 4.1 4.8 5.7 26.1 39.2 9.4 9.7 10.1 18

 19 State and local govt. retirement funds -0.9 -0.0 -0.1 -0.1 0.1 0.8 -0.7 -0.7 0.2 19

 20 Money market mutual funds 26.7 42.9 104.6 12.9 -69.4 -53.4 -29.4 -20.6 -28.3 20

 21 Mutual funds 17.4 32.7 27.7 17.7 89.4 46.7 15.7 86.2 -13.5 21

 22 Closed-end funds 0.2 0.0 1.9 -13.3 3.3 0.4 0.9 3.4 -1.7 22

 23 Exchange-traded funds 0.0 0.0 0.6 1.7 3.6 1.7 1.0 3.6 -0.8 23

 24 Government-sponsored enterprises -4.9 -3.6 -2.8 -2.0 -2.2 -4.2 -3.9 -4.1 -3.5 24

 25 Brokers and dealers 10.9 8.0 -0.7 -11.4 -3.3 4.6 -9.1 -4.3 -8.0 25

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
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Historical Annuals, 2005-2013, September 18, 2014 47

F.212 Corporate and Foreign Bonds

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net issues 758.7 1048.8 1151.2 -225.8 -55.4 -237.5 107.6 225.6 390.8 1

 2 Nonfinancial corporate business -41.3 74.7 118.8 116.5 215.8 179.4 161.7 324.4 280.6 2

 3 Rest of the world (1) 54.8 178.9 304.1 -140.8 177.2 127.4 181.7 124.7 194.4 3

 4 Financial sectors 745.2 795.3 728.2 -201.4 -448.4 -544.3 -235.8 -223.5 -84.3 4

 5 U.S.-chartered depository institutions 13.5 29.6 24.8 0.1 -28.5 -49.2 2.4 -82.3 -74.9 5

 6 ABS issuers (net) (2) 583.3 633.6 563.5 -248.2 -347.8 -371.6 -148.5 -134.3 -227.7 6

 7 Finance companies 43.6 42.4 -2.8 -49.6 -87.0 -111.7 -39.4 -81.4 4.4 7

 8 REITs 32.8 13.9 0.7 -60.3 -26.6 1.0 7.6 26.7 173.6 8

 9 Brokers and dealers 0.1 6.4 -4.0 32.3 -4.2 36.9 -37.9 -1.7 22.2 9

 10 Holding companies 44.2 47.8 94.4 123.0 7.8 -46.5 -91.6 14.1 6.7 10

 11 Funding corporations 27.6 21.6 51.5 1.4 37.9 -3.2 71.6 35.3 11.4 11

 12 Net purchases (3) 758.7 1048.8 1151.2 -225.8 -55.4 -237.5 107.6 225.6 390.8 12

 13 Household sector -71.4 -24.1 147.2 245.7 98.1 -419.5 88.8 -166.2 -197.8 13

 14 State and local governments 11.5 12.7 14.6 -5.4 3.5 7.8 -0.5 6.0 2.5 14

 15 Federal government 0.0 0.0 0.0 0.0 0.6 0.3 -0.1 -0.2 -0.1 15

 16 Rest of the world (4) 328.5 541.0 424.6 -21.8 -127.3 -36.8 -111.5 -19.7 205.2 16

 17 MBS and other ABS 148.6 247.0 140.8 -106.7 -167.4 -45.5 -44.8 -36.1 -22.5 17

 18 Other 179.9 294.0 283.8 84.9 40.1 8.8 -66.7 16.4 227.7 18

 19 U.S.-chartered depository institutions 67.7 71.8 151.5 -63.2 25.1 -98.2 2.5 -9.0 15.2 19

 20 MBS and other ABS 60.8 32.2 115.3 -69.1 -47.7 -88.1 -24.8 -1.0 -1.3 20

 21 Other 7.0 39.7 36.2 5.9 72.9 -10.2 27.3 -8.0 16.5 21

 22 Foreign banking offices in U.S. 79.3 28.3 77.4 32.2 -157.8 -9.4 -1.4 -6.2 -34.1 22

 23 Banks in U.S.-affiliated areas -0.5 -0.4 0.1 0.0 1.5 -1.4 3.6 1.0 0.6 23

 24 Credit unions -1.5 7.2 3.9 -8.4 -6.7 -15.7 -0.3 0.3 2.2 24

 25 MBS and other ABS 0.0 0.0 0.0 0.5 0.3 -0.7 -0.3 0.7 2.1 25

 26 Other -1.5 7.2 3.9 -8.9 -7.0 -15.0 -0.1 -0.4 0.1 26

 27 Property-casualty insurance companies 17.5 14.2 5.9 -15.4 30.8 24.3 40.4 19.6 24.2 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 -0.6 3.2 8.7 28

 29 Other 17.5 14.2 5.9 -15.4 30.8 24.3 41.1 16.4 15.5 29

 30 Life insurance companies 74.7 29.7 43.1 -45.5 97.6 102.9 87.1 45.0 60.8 30

 31 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -24.3 9.1 31

 32 Other 74.7 29.7 43.1 -45.5 97.6 102.9 87.1 69.3 51.8 32

 33 Private pension funds 21.4 27.1 21.3 3.8 -16.0 82.1 44.5 83.8 5.2 33

 34 State and local govt. retirement funds 88.2 80.5 49.4 22.7 -100.5 5.9 -10.9 -29.3 29.6 34

 35 Federal government retirement funds 0.4 0.5 1.5 -0.5 -0.0 0.2 1.4 1.7 -1.3 35

 36 Money market mutual funds 13.4 101.3 15.9 -148.8 -58.1 -15.7 -49.1 -3.0 0.0 36

 37 Mutual funds 65.9 104.3 122.1 69.7 143.8 122.3 170.3 306.0 279.4 37

 38 Closed-end funds 1.7 5.8 -0.5 -24.8 6.0 4.1 -2.3 7.5 15.4 38

 39 Exchange-traded funds 1.9 2.4 6.2 13.9 27.6 18.7 33.6 47.6 19.5 39

 40 Government-sponsored enterprises 50.9 16.1 -17.4 -77.7 -48.6 -29.6 -30.8 -50.0 -59.4 40

 41 MBS and other ABS 43.5 10.5 -20.1 -64.4 -50.2 -46.5 -32.2 -31.2 -58.8 41

 42 Other 7.4 5.5 2.7 -13.4 1.6 17.0 1.4 -18.8 -0.6 42

 43 Finance companies -52.5 -18.7 4.5 3.0 6.3 -19.8 0.9 -6.3 -10.8 43

 44 REITs 17.0 11.6 -30.2 -22.8 4.3 7.2 3.8 9.5 -0.2 44

 45 Brokers and dealers 77.7 39.8 27.3 -259.0 47.5 35.2 -85.0 35.5 -11.1 45

 46 Holding companies -3.7 4.9 19.2 -0.0 -8.4 7.3 -20.1 -11.9 37.0 46

 47 Funding corporations -29.4 -7.1 63.6 76.6 -24.7 -9.8 -57.3 -36.2 8.9 47

(1) Net purchases of foreign issues by U.S. residents.

(2) Net issuance less net acquisition of corporate bonds held as assets.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
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48 Historical Annuals, 2005-2013, September 18, 2014

F.213 Corporate Equities (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net issues -35.1 -299.6 -385.7 281.0 327.1 15.4 -285.7 -87.9 65.4 1

 2 Nonfinancial corporate business -300.2 -496.9 -713.0 -319.6 -52.5 -255.1 -456.7 -359.5 -373.3 2

 3 Rest of the world (2) 186.7 137.3 147.8 -38.6 63.7 79.2 7.0 103.3 275.2 3

 4 Financial sectors 78.4 60.0 179.6 639.2 315.9 191.4 164.1 168.3 163.5 4

 5 U.S.-chartered depository institutions 8.4 10.2 7.5 12.1 11.6 11.9 6.4 1.6 2.2 5

 6 Property-casualty insurance companies -2.8 -8.5 -13.2 0.4 -5.3 -12.7 -10.7 -14.5 -7.6 6

 7 Life insurance companies -8.0 -20.0 -30.6 -10.7 -0.9 -4.8 -11.5 -9.9 -9.2 7

 8 Closed-end funds 20.5 8.5 18.4 -61.9 7.1 0.5 -2.9 2.6 -1.6 8

 9 Exchange-traded funds 56.7 74.0 150.6 177.2 116.5 118.0 117.6 185.2 179.0 9

 10 REITs 16.1 22.2 17.1 12.8 24.2 28.2 37.5 47.6 46.2 10

 11 Government-sponsored enterprises 4.2 1.1 25.5 27.6 96.0 38.1 29.2 14.5 2.4 11

 12 Brokers and dealers 3.3 -7.6 32.3 120.2 -32.4 -11.1 14.1 -50.7 -31.0 12

 13 Holding companies -20.0 -19.8 -28.0 321.4 68.6 19.8 2.9 0.6 -17.1 13

 14 Funding corporations (3) 0.0 0.0 0.0 40.0 30.5 3.5 -18.4 -8.6 0.0 14

 15 Net purchases -35.1 -299.6 -385.7 281.0 327.1 15.4 -285.7 -87.9 65.4 15

 16 Household sector -412.6 -608.3 -1065.6 -321.0 -19.0 -221.0 -308.7 -241.3 -59.3 16

 17 State and local governments 4.4 4.5 5.1 -7.7 -2.2 -0.0 -2.5 3.2 1.3 17

 18 Federal government 0.0 0.0 0.0 256.3 0.6 24.1 40.3 -13.2 -4.8 18

 19 Rest of the world (4) 83.6 118.7 243.9 130.0 192.7 127.8 44.0 126.8 -74.8 19

 20 Monetary authority 0.0 0.0 0.0 0.0 25.1 1.3 -26.4 0.0 0.0 20

 21 U.S.-chartered depository institutions -0.9 -0.4 1.4 0.9 6.3 -1.8 1.0 -10.5 0.8 21

 22 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.1 -0.0 0.0 0.0 22

 23 Property-casualty insurance companies -6.3 -1.9 2.0 35.4 -2.8 -20.9 2.9 4.6 3.5 23

 24 Life insurance companies 65.9 71.4 84.1 81.8 33.4 45.6 37.7 15.3 13.4 24

 25 Private pension funds -48.9 -95.4 -3.3 -65.0 -91.2 22.7 -60.3 -18.6 0.5 25

 26 State and local govt. retirement funds 55.0 4.2 72.1 112.3 1.4 -78.5 -53.5 -46.1 -156.8 26

 27 Federal government retirement funds 6.7 5.9 1.9 -8.4 8.8 5.4 -4.2 -4.1 9.1 27

 28 Mutual funds 129.6 131.3 91.3 -38.1 86.5 44.3 4.9 -38.1 162.9 28

 29 Closed-end funds 18.3 2.4 18.8 -21.3 -3.4 -4.7 -1.2 -8.6 -15.9 29

 30 Exchange-traded funds 50.0 68.3 137.3 154.2 70.5 88.3 71.6 132.9 166.8 30

 31 Brokers and dealers 20.1 -0.2 25.4 -28.5 -4.6 -18.5 -5.0 9.7 18.6 31

 32 Funding corporations 0.0 0.0 0.0 0.0 25.1 1.3 -26.4 0.0 0.0 32

(1) Excludes mutual fund shares shown on table F.214.

(2) Net purchases of foreign corporate equities and investment fund shares 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 260.2 336.8 361.5 -9.9 497.1 370.1 338.4 624.9 638.8 1

 2 Net purchases 260.2 336.8 361.5 -9.9 497.1 370.1 338.4 624.9 638.8 2

 3 Household sector 196.3 182.5 247.4 -22.5 376.2 281.8 333.4 606.7 642.5 3

 4 Nonfinancial corporate business 0.7 23.6 -4.9 -16.5 35.3 11.1 -12.8 -0.1 0.9 4

 5 State and local governments 3.5 3.9 4.5 -0.6 1.7 2.9 0.3 1.6 0.7 5

 6 Rest of the world 5.6 22.7 12.7 -26.9 19.4 58.2 74.7 89.7 -27.0 6

 7 U.S.-chartered depository institutions -1.8 3.9 3.6 1.3 14.8 -5.8 -0.8 -1.1 1.6 7

 8 Credit unions -1.0 -0.1 -0.0 -0.0 -0.7 0.2 0.3 0.4 -0.1 8

 9 Property-casualty insurance companies 0.5 4.7 -2.0 -0.7 0.5 -0.1 -0.7 1.8 1.2 9

 10 Life insurance companies -9.9 26.9 31.3 -10.7 0.0 1.0 1.1 1.3 1.4 10

 11 Private pension funds 72.3 77.8 85.1 84.2 51.5 34.7 8.4 -26.1 27.4 11

 12 State and local govt. retirement funds -6.1 -9.2 -16.2 -17.5 -1.7 -13.9 -65.5 -49.3 -9.7 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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Historical Annuals, 2005-2013, September 18, 2014 49

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in liabilities 163.9 187.0 337.5 699.9 -758.5 -92.2 146.6 186.1 186.1 1

 2 Household sector 0.3 44.2 -9.1 4.6 28.3 50.1 -54.9 110.8 30.0 2

 3 Corporate business -27.1 22.0 96.3 64.2 -234.0 -87.0 68.9 80.4 46.6 3

 4 Noncorporate business 157.9 115.3 140.9 119.6 -102.0 -16.8 56.7 85.7 49.5 4

 5 Rest of the world 17.3 16.9 29.4 15.1 -14.8 24.0 43.2 30.4 39.1 5

 6 Foreign official institutions -3.6 -0.7 0.2 1.7 -0.0 2.1 -1.2 0.8 1.0 6

 7 Foreign banks 5.0 2.9 8.9 5.4 -5.2 15.6 16.8 0.6 20.0 7

 8 Other foreign 15.9 14.7 20.2 8.0 -9.6 6.3 27.6 29.1 18.1 8

 9 Financial sectors 15.5 -11.5 80.1 496.4 -435.9 -62.5 32.6 -121.2 20.9 9

 10 Finance companies 5.2 -12.9 52.8 -7.1 -30.4 -64.9 15.9 16.4 10.1 10

 11 REITs 8.4 -5.0 4.8 -0.3 -12.7 -1.8 4.6 4.0 -2.9 11

 12 Brokers and dealers 0.0 0.0 0.0 45.5 -45.5 0.0 0.0 0.0 0.0 12

 13 Holding companies 1.9 6.4 22.5 13.3 2.3 26.1 64.0 -120.2 13.8 13

 14 Funding corporations 0.0 0.0 0.0 444.9 -349.6 -21.9 -51.9 -21.5 0.0 14

 15 Net change in assets 163.9 187.0 337.5 699.9 -758.5 -92.2 146.6 186.1 186.1 15

 16 Monetary authority (2) 0.0 0.0 0.0 490.4 -347.6 -44.8 -67.6 -29.9 -0.5 16

 17 U.S.-chartered depository institutions 89.7 114.2 229.3 138.7 -285.9 -36.3 163.6 218.6 136.4 17

 18 Foreign banking offices in U.S. 63.6 70.1 107.6 67.6 -126.0 -11.3 42.9 -3.7 43.8 18

 19 Banks in U.S.-affiliated areas 5.6 -0.3 -4.2 -1.7 -0.3 -3.3 1.1 1.0 1.3 19

 20 Credit unions 4.9 3.0 4.8 4.8 1.3 3.5 6.6 0.1 5.1 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 F.108.
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50 Historical Annuals, 2005-2013, September 18, 2014

F.216 Other Loans and Advances

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total other loans and advances 154.7 163.8 527.6 119.1 -446.9 -226.8 4.9 -13.6 142.1 1

 2 U.S. government loans -9.2 0.6 -2.3 6.1 66.2 3.7 4.8 2.5 7.2 2

 3 Liab.: Household sector -0.7 1.4 -0.4 0.3 -0.2 -1.0 -0.5 -0.1 1.1 3

 4 Nonfinancial corporate business 0.8 1.2 -0.2 4.4 59.6 -4.3 -0.5 5.2 0.8 4

 5 Nonfinancial noncorporate business -3.1 4.7 1.1 2.1 3.6 0.6 2.9 0.6 2.0 5

 6 State and local governments 0.6 0.6 0.7 0.8 0.8 0.9 0.9 0.4 0.5 6

 7 Rest of the world -5.5 -5.3 -1.7 -0.1 2.1 2.7 3.9 5.6 5.7 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Funding corporations 0.0 0.0 0.0 0.0 2.0 7.2 0.7 -6.8 -0.7 10

 11 Foreign loans to U.S. corporate business 31.3 6.2 102.3 -44.7 -44.0 -20.2 33.9 -52.2 -3.5 11

 12 Liab.: Nonfinancial corporate business 31.3 6.2 102.3 -44.7 -44.0 -20.2 33.9 -52.2 -3.5 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Foreign banking offices in U.S. 0.1 -0.3 0.0 -0.2 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business 0.0 -0.3 -0.1 -0.2 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world -0.0 -0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans 2.7 -2.9 0.7 2.0 -3.2 4.3 4.0 16.7 -2.8 17

 18 Liab.: Nonfinancial corporate business 2.7 -2.9 0.7 2.0 -3.2 4.3 4.0 14.3 -0.7 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 -2.0 19

 20 Policy loans (Household liability) 0.8 3.3 3.6 5.9 0.7 3.4 2.4 1.4 0.9 20

 21 Asset: Federal government -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 21

 22 Life insurance companies 0.8 3.4 3.6 5.9 0.7 3.4 2.5 1.4 1.0 22

 23 Govt.-sponsored enterprises loans (1) 52.4 33.1 237.7 38.1 -284.8 -144.7 -64.2 18.6 81.9 23

 24 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) 1.4 1.7 1.8 -3.7 -0.4 1.6 -0.9 0.7 0.1 25

 26 Nonfinancial noncorporate business (FCS) 6.7 10.2 10.1 8.5 0.2 5.7 -2.6 7.6 2.8 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 40.7 14.3 197.8 -1.2 -263.9 -148.3 -60.5 4.6 69.2 27

 28 Credit unions (FHLB) 3.3 4.2 13.4 8.3 -14.1 -0.4 -2.0 0.9 1.9 28

 29 Life insurance companies (FHLB) 0.4 2.7 14.5 26.2 -6.6 -3.2 1.8 4.8 7.8 29

 30 Securitized loans held by ABS issuers -17.6 3.8 -4.0 -15.6 -23.7 -4.9 -3.9 1.7 0.2 30

 31 Liab.: Nonfinancial corporate business -17.6 3.8 -4.0 -15.6 -23.7 -4.9 -3.9 1.7 0.2 31

 32 Finance company loans to business 27.6 18.9 24.9 16.9 -91.0 -15.2 3.0 11.2 14.4 32

 33 Liab.: Nonfinancial corporate business 24.9 17.0 22.4 15.2 -81.9 -13.7 2.7 10.1 12.9 33

 34 Nonfinancial noncorporate business 2.8 1.9 2.5 1.7 -9.1 -1.5 0.3 1.1 1.4 34

 35 Loans to nonfinancial corporate business (2) 66.6 101.1 164.6 110.5 -67.1 -53.3 24.9 -13.5 43.9 35

 36 Asset: Household sector 2.7 0.4 8.5 12.2 -5.3 -0.6 -2.8 -2.5 5.0 36

 37 Life insurance companies 4.2 6.5 9.6 14.3 -13.3 -3.7 5.4 0.4 2.6 37

 38 Mutual funds 10.5 9.8 36.1 12.4 1.3 -0.8 18.9 12.2 39.4 38

 39 ABS issuers 37.8 61.2 92.6 53.4 -27.4 -34.0 -1.5 -2.3 -11.7 39

 40 Brokers and dealers 7.7 19.8 11.1 3.1 -12.7 -12.7 6.9 -14.8 10.9 40

 41 Funding corporations 3.6 3.4 6.7 15.1 -9.8 -1.5 -2.0 -6.5 -2.3 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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Historical Annuals, 2005-2013, September 18, 2014 51

F.217 Total Mortgages

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in mortgages 1443.8 1392.9 1128.0 231.2 -51.7 -314.8 -147.6 -58.9 105.2 1

 2 Home 1128.5 1079.8 770.6 43.4 23.8 -160.4 -86.5 -71.3 3.9 2

 3 Multifamily residential 62.7 41.7 86.8 46.4 6.9 -4.5 7.3 35.5 37.5 3

 4 Commercial 243.5 268.2 266.1 119.5 -93.7 -158.0 -81.5 -28.9 61.1 4

 5 Farm 9.1 3.3 4.6 22.0 11.3 8.1 13.1 5.8 2.7 5

 6 Net borrowing 1443.8 1392.9 1128.0 231.2 -51.7 -314.8 -147.6 -58.9 105.2 6

 7 Household sector 1061.1 1015.3 745.5 90.8 70.0 -177.8 -74.2 -61.2 10.9 7

 8 Nonfinancial business 368.6 371.1 377.9 133.6 -133.4 -137.9 -86.9 -2.5 86.6 8

 9 Corporate 191.1 87.8 69.2 -60.1 -143.7 -130.6 -72.3 4.6 27.2 9

 10 Noncorporate 177.5 283.3 308.7 193.7 10.2 -7.3 -14.6 -7.1 59.3 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 14.1 6.6 4.7 6.8 11.8 0.8 13.5 4.8 7.8 12

 13 Net change in assets 1443.8 1392.9 1128.0 231.2 -51.7 -314.8 -147.6 -58.9 105.2 13

 14 Household sector 8.1 -17.1 -12.9 1.1 -0.9 -10.9 0.7 -13.9 -7.2 14

 15 Nonfinancial corporate business 1.7 -8.4 -18.4 -7.7 -4.1 -1.6 -0.6 -0.8 -0.8 15

 16 Nonfinancial noncorporate business 5.3 -1.5 7.4 -3.0 -1.2 4.2 0.5 0.6 0.9 16

 17 State and local governments 14.6 16.1 19.0 -4.0 8.6 13.5 2.2 9.4 4.2 17

 18 Federal government 2.4 3.7 2.1 13.5 12.6 -5.4 3.3 1.6 4.0 18

 19 U.S.-chartered depository institutions 450.2 359.6 252.1 -0.9 -178.1 -149.2 -105.3 13.7 -26.6 19

 20 Foreign banking offices in U.S. 4.0 4.1 14.1 5.2 -6.4 -2.5 -2.6 -1.9 -0.6 20

 21 Banks in U.S.-affiliated areas 3.6 4.1 1.6 1.8 -0.3 -6.5 -2.4 1.5 -2.5 21

 22 Credit unions 27.4 26.4 27.8 32.2 5.4 0.9 4.5 8.3 18.6 22

 23 Property-casualty insurance companies 0.3 0.7 1.3 0.2 -0.5 -0.3 0.8 0.7 2.3 23

 24 Life insurance companies 12.1 18.3 22.4 16.3 -16.3 -8.6 15.0 11.9 18.8 24

 25 Private pension funds -0.2 -0.3 2.2 -8.0 -2.4 2.8 -4.6 1.2 -3.4 25

 26 State and local govt. retirement funds -1.3 2.2 2.0 -2.8 -2.7 -0.4 -0.1 -0.7 -2.6 26

 27 Government-sponsored enterprises (1) -40.2 18.4 35.9 62.2 2.4 -71.0 -60.5 -71.4 72.5 27

 28 Agency- and GSE-backed mortgage pools 164.5 292.6 626.0 507.4 458.3 186.9 165.3 132.2 132.4 28

 29 ABS issuers 697.5 631.5 202.3 -271.5 -248.0 -211.3 -144.7 -134.3 -217.8 29

 30 Finance companies 65.4 52.9 -43.7 -64.2 -47.8 -54.2 -30.9 -25.7 -21.9 30

 31 REITs 28.3 -10.4 -13.1 -46.5 -30.2 -1.3 11.7 8.6 135.0 31
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52 Historical Annuals, 2005-2013, September 18, 2014

F.218 Home Mortgages (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net borrowing 1128.5 1079.8 770.6 43.4 23.8 -160.4 -86.5 -71.3 3.9 1

 2 Household sector 1053.3 997.4 732.2 93.9 66.2 -180.8 -67.8 -58.9 6.5 2

 3 Nonfinancial corporate business 7.6 8.2 2.9 -10.2 -12.4 -6.8 -3.4 -0.5 0.3 3

 4 Nonfinancial noncorporate business 67.6 74.2 35.5 -40.3 -30.0 27.2 -15.3 -11.8 -2.8 4

 5 Net change in assets 1128.5 1079.8 770.6 43.4 23.8 -160.4 -86.5 -71.3 3.9 5

 6 Household sector 5.0 -15.0 -12.1 0.4 -8.0 -8.0 -8.0 -8.0 -8.0 6

 7 Nonfinancial corporate business 1.0 -5.1 -10.9 -4.8 -2.5 -0.9 -0.3 -0.5 -0.5 7

 8 Nonfinancial noncorporate business 1.9 -0.6 2.7 -1.1 -0.4 1.5 0.2 0.2 0.3 8

 9 State and local governments 7.5 8.3 10.0 -1.2 6.1 8.4 2.3 5.8 2.7 9

 10 Federal government -0.4 0.2 0.3 2.7 5.7 -1.8 0.2 1.1 0.4 10

 11 U.S.-chartered depository institutions 289.4 203.3 144.5 -141.9 -125.9 -48.9 -37.6 5.5 -95.7 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 -1.5 -6.0 0.1 0.3 0.5 -0.4 12

 13 Banks in U.S.-affiliated areas 0.7 0.9 4.3 1.4 -0.3 -2.5 -2.4 2.3 -1.1 13

 14 Credit unions 27.4 26.4 27.8 32.2 5.4 0.9 4.5 8.3 18.6 14

 15 Life insurance companies -0.6 2.9 -0.9 -0.8 0.2 0.3 -0.1 0.5 0.7 15

 16 Private pension funds -0.0 -0.1 -0.1 0.1 0.7 -0.1 -0.3 -0.1 -0.2 16

 17 State and local govt. retirement funds -0.5 0.8 0.7 -1.0 -1.0 -0.1 -0.0 -0.2 -0.9 17

 18 Government-sponsored enterprises -54.7 3.7 -9.7 8.8 -23.2 -76.4 -66.5 -82.5 92.8 18

 19 Agency- and GSE-backed mortgage pools 169.0 302.8 625.4 502.6 445.6 175.8 148.0 105.0 98.8 19

 20 ABS issuers 590.2 523.5 59.0 -231.8 -202.0 -159.1 -119.3 -104.9 -83.0 20

 21 Finance companies 67.8 51.6 -46.9 -74.8 -45.2 -49.8 -18.4 -11.1 -17.3 21

 22 REITs 24.8 -23.8 -23.4 -46.1 -25.2 0.2 11.0 6.9 -3.3 22

 Memo:

 23 Charge-offs (2) 0.0 0.0 32.1 137.8 239.0 187.6 155.4 143.6 93.0 23

 24 Home equity loans included above (3) 141.5 150.5 71.3 6.5 -46.2 -52.8 -53.9 -62.7 -56.2 24

 25 U.S.-chartered depository institutions 95.9 90.5 86.1 41.6 -21.9 -31.8 -41.1 -51.7 -46.8 25

 26 Foreign banking offices in U.S. 0.0 0.0 0.0 -0.4 -0.6 0.0 -0.0 -0.0 0.1 26

 27 Credit unions 12.0 11.0 7.2 4.6 -4.1 -6.4 -6.0 -6.5 -3.7 27

 28 ABS issuers 19.3 39.3 -9.0 -19.8 -10.1 -5.4 -2.7 -2.0 -2.3 28

 29 Finance companies 14.3 9.7 -13.1 -19.5 -9.6 -9.3 -4.0 -2.4 -3.6 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from the flow (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars

 1 Net borrowing 62.7 41.7 86.8 46.4 6.9 -4.5 7.3 35.5 37.5 1

 2 Nonfinancial corporate business 3.1 2.1 4.5 2.2 0.2 -0.2 0.4 1.8 1.7 2

 3 Nonfinancial noncorporate business 59.7 39.3 84.7 41.8 4.4 -4.7 6.8 34.8 32.5 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs -0.1 0.3 -2.3 2.3 2.3 0.4 0.1 -1.1 3.3 5

 6 Net change in assets 62.7 41.7 86.8 46.4 6.9 -4.5 7.3 35.5 37.5 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 0.0 -0.1 -0.3 -0.1 -0.1 -0.0 -0.0 -0.0 -0.0 8

 9 Nonfinancial noncorporate business 1.9 -0.5 2.6 -1.0 -0.4 1.5 0.2 0.2 0.3 9

 10 State and local governments 5.9 6.4 7.4 -2.3 2.1 4.2 -0.1 3.0 1.2 10

 11 Federal government -0.0 -0.2 -0.3 0.1 0.1 -0.3 -0.3 -0.3 0.0 11

 12 U.S.-chartered depository institutions 30.8 16.3 7.8 14.9 -9.0 -12.2 -6.6 10.2 29.4 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 -0.2 -0.4 -0.5 -0.6 -1.5 -0.4 13

 14 Life insurance companies 2.0 3.6 5.8 -0.1 -3.2 -1.3 2.1 1.7 2.5 14

 15 Private pension funds -0.0 -0.1 0.1 0.3 0.3 0.4 -0.3 -0.3 -0.3 15

 16 State and local govt. retirement funds -0.4 0.7 0.6 -0.9 -0.8 -0.1 -0.0 -0.2 -0.8 16

 17 Government-sponsored enterprises 10.5 12.4 42.3 42.5 14.2 2.0 2.8 6.2 -21.9 17

 18 Agency- and GSE-backed mortgage pools -4.5 -12.5 -0.7 4.6 13.0 11.3 19.4 27.0 33.7 18

 19 ABS issuers 16.2 13.0 21.4 -10.8 -6.1 -8.5 -7.7 -9.6 -5.9 19

 20 Finance companies 0.0 -0.5 -0.1 0.2 -0.7 -0.7 -1.5 -0.8 -0.8 20

 21 REITs 0.3 3.1 0.2 -0.9 -2.0 -0.3 -0.2 0.1 0.5 21
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Historical Annuals, 2005-2013, September 18, 2014 53

F.220 Commercial Mortgages

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net borrowing 243.5 268.2 266.1 119.5 -93.7 -158.0 -81.5 -28.9 61.1 1

 2 Household sector 7.8 17.9 13.3 -3.0 3.8 3.0 -6.3 -2.3 4.4 2

 3 Nonfinancial corporate business 177.8 76.2 60.1 -57.9 -135.6 -126.6 -73.8 1.0 24.0 3

 4 Nonfinancial noncorporate business 43.6 167.8 185.7 176.0 28.6 -34.8 -14.7 -33.6 28.2 4

 5 REITs 14.2 6.3 7.0 4.5 9.5 0.4 13.3 6.0 4.5 5

 6 Net change in assets 243.5 268.2 266.1 119.5 -93.7 -158.0 -81.5 -28.9 61.1 6

 7 Household sector 1.9 2.2 2.1 0.9 -0.7 -1.1 -0.6 -0.3 0.4 7

 8 Nonfinancial corporate business 0.6 -3.2 -7.3 -2.8 -1.6 -0.6 -0.2 -0.3 -0.3 8

 9 Nonfinancial noncorporate business 1.4 -0.4 2.0 -0.8 -0.3 1.1 0.1 0.2 0.2 9

 10 State and local governments 1.2 1.3 1.5 -0.5 0.4 0.8 -0.0 0.6 0.2 10

 11 Federal government 2.8 3.7 2.1 10.4 6.4 -3.7 3.2 0.8 3.9 11

 12 U.S.-chartered depository institutions 126.7 137.8 98.1 117.4 -36.8 -95.1 -62.9 -8.1 38.8 12

 13 Foreign banking offices in U.S. 4.0 4.1 14.1 6.8 0.1 -2.1 -2.3 -0.9 0.2 13

 14 Banks in U.S.-affiliated areas 2.9 3.2 -2.7 0.4 -0.0 -4.0 -0.1 -0.8 -1.4 14

 15 Property-casualty insurance companies 0.3 0.7 1.3 0.2 -0.5 -0.3 0.8 0.7 2.3 15

 16 Life insurance companies 10.2 11.1 16.8 14.9 -11.5 -6.8 12.3 9.8 15.4 16

 17 Private pension funds -0.1 -0.2 2.2 -8.4 -3.5 2.5 -4.0 1.6 -2.8 17

 18 State and local govt. retirement funds -0.4 0.7 0.7 -1.0 -0.9 -0.1 -0.0 -0.2 -0.9 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers 91.1 95.0 121.8 -28.9 -39.9 -43.8 -17.6 -19.8 -128.8 20

 21 Finance companies -2.4 1.8 3.3 10.5 -1.9 -3.7 -11.0 -13.8 -3.8 21

 22 REITs 3.2 10.3 10.1 0.4 -2.9 -1.2 0.9 1.5 137.7 22

F.221 Farm Mortgages (1)

Billions of dollars

 1 Net borrowing 9.1 3.3 4.6 22.0 11.3 8.1 13.1 5.8 2.7 1

 2 Nonfinancial corporate business 2.5 1.3 1.8 5.9 4.0 3.1 4.5 2.3 1.2 2

 3 Nonfinancial noncorporate business 6.6 2.0 2.9 16.1 7.3 5.0 8.6 3.5 1.5 3

 4 Net change in assets 9.1 3.3 4.6 22.0 11.3 8.1 13.1 5.8 2.7 4

 5 Household sector 1.2 -4.3 -2.8 -0.2 7.8 -1.7 9.4 -5.6 0.4 5

 6 Nonfinancial noncorporate business 0.1 -0.0 0.1 -0.1 -0.0 0.1 0.0 0.0 0.0 6

 7 State and local governments 0.1 0.1 0.1 -0.0 0.0 0.1 -0.0 0.0 0.0 7

 8 Federal government -0.0 -0.0 0.1 0.2 0.4 0.4 0.3 0.1 -0.3 8

 9 U.S.-chartered depository institutions 3.3 2.2 1.7 8.7 -6.4 7.0 1.7 6.1 0.9 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 10

 11 Life insurance companies 0.6 0.7 0.7 2.3 -1.7 -0.9 0.6 0.0 0.2 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 12

 13 Government-sponsored enterprises 4.0 2.2 3.3 10.9 11.4 3.4 3.3 4.9 1.6 13

 14 Agency- and GSE-backed mortgage pools -0.1 2.3 1.4 0.1 -0.2 -0.2 -2.1 0.3 -0.2 14

(1) Excludes mortgages on farm houses.
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54 Historical Annuals, 2005-2013, September 18, 2014

F.222 Consumer Credit

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in liabilities (Households) 100.4 120.5 151.3 34.9 -103.6 -25.3 108.5 169.7 174.3 1

 2 Net change in assets 100.4 120.5 151.3 34.9 -103.6 -25.3 108.5 169.7 174.3 2

 3 Households (nonprofit organizations) (1) 0.0 10.4 8.4 7.1 -5.8 -10.4 -3.9 -8.8 -6.5 3

 4 Nonfinancial corporate business 0.4 -6.5 4.3 -1.2 -2.1 -11.4 1.9 1.7 -5.6 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 3.7 1.6 7.0 19.5 87.9 133.1 128.5 132.1 113.1 6

 7 U.S.-chartered depository institutions 20.5 52.2 58.1 70.1 -64.5 -70.3 7.1 28.1 52.9 7

 8 Credit unions 13.2 7.5 0.5 -0.4 0.9 -10.7 -3.4 20.6 21.9 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers 38.4 36.2 32.8 -42.3 -37.8 -42.3 -4.1 3.8 -0.8 10

 11 Finance companies 24.2 19.2 40.2 -17.9 -82.4 -13.4 -17.4 -7.8 -0.6 11

 Memo:

 12 Credit card loans (3) 32.3 56.2 78.0 2.3 -88.0 -69.7 1.8 5.0 10.9 12

 13 Auto loans 25.2 -5.3 16.2 -23.9 -58.2 -40.7 17.1 59.9 69.7 13

 14 Student loans (4) 0.0 72.6 80.0 93.7 101.0 80.8 99.9 119.0 91.7 14

 15 Other consumer credit (5) 42.9 -3.0 -22.9 -37.2 -58.4 4.2 -10.2 -14.2 1.9 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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Historical Annuals, 2005-2013, September 18, 2014 55

F.223 Trade Credit

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in trade payables 335.6 186.2 200.1 -164.5 7.8 154.9 81.6 143.3 181.4 1

 2 Household sector 13.0 13.6 14.6 22.2 41.4 -29.4 1.2 4.0 1.0 2

 3 Nonfinancial corporate business 199.0 109.1 85.1 -225.2 -82.6 156.3 25.2 83.3 113.4 3

 4 Nonfinancial noncorporate business 49.7 14.3 26.0 5.8 16.9 30.3 7.9 1.2 6.9 4

 5 State and local governments 31.9 34.3 36.7 38.6 38.9 38.5 38.4 38.8 39.6 5

 6 Federal government 33.7 6.2 29.3 22.6 -56.2 5.2 8.8 15.4 16.8 6

 7 Rest of the world 1.3 3.5 10.7 -3.7 0.5 6.0 4.0 0.7 3.4 7

 8 Brokers and dealers 7.0 5.2 -2.4 -24.7 48.9 -52.0 -3.8 -0.0 0.3 8

 9 Net change in trade receivables 382.1 42.5 245.9 -191.8 -114.9 165.1 113.0 109.5 173.4 9

 10 Nonfinancial corporate business 277.6 -13.8 159.8 -169.6 -31.2 105.7 83.8 83.6 145.4 10

 11 Nonfinancial noncorporate business 66.6 40.0 54.7 -3.0 -26.3 37.0 5.8 7.5 11.4 11

 12 State and local governments 17.4 8.9 7.8 -15.4 -4.6 13.1 2.3 5.7 8.4 12

 13 Federal government 9.2 -11.6 1.2 4.2 -21.1 -0.7 4.8 2.6 -1.5 13

 14 Rest of the world 11.6 5.7 20.6 6.7 6.3 18.6 17.1 11.6 11.9 14

 15 Property-casualty insurance companies 2.4 4.9 -1.6 1.3 -3.7 0.8 3.4 4.8 3.3 15

 16 ABS issuers -2.8 8.5 3.4 -16.1 -34.3 -9.5 -4.2 -6.4 -5.4 16

 17 Discrepancy -46.5 143.7 -45.9 27.4 122.7 -10.2 -31.4 33.8 8.1 17

F.224 Security Credit

Billions of dollars

 1 Net change in liabilities -36.1 147.9 253.8 -352.9 -5.4 105.0 -7.4 97.7 104.3 1

 2 Household sector -31.6 59.7 33.4 -160.7 38.1 75.2 -39.3 64.9 35.4 2

 3 Brokers and dealers -4.5 88.2 220.4 -192.2 -43.5 29.8 31.9 32.8 68.9 3

 4 Net change in assets -36.1 147.9 253.8 -352.9 -5.4 105.0 -7.4 97.7 104.3 4

 5 Household sector -11.8 77.2 216.4 -179.6 -35.7 23.5 0.9 42.0 58.5 5

 6 U.S.-chartered depository institutions -1.1 6.0 -1.9 -2.2 -3.4 3.2 12.2 -1.9 7.9 6

 7 Foreign banking offices in U.S. 8.4 5.1 5.9 -10.4 -4.5 3.1 18.8 -7.3 2.5 7

 8 Brokers and dealers -31.6 59.7 33.4 -160.7 38.1 75.2 -39.3 64.9 35.4 8
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56 Historical Annuals, 2005-2013, September 18, 2014

F.225 Life Insurance Reserves

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in liabilities 15.1 65.6 34.4 65.2 27.4 14.5 81.2 -11.9 30.0 1

 2 Federal government 1.1 1.5 1.2 1.0 1.1 0.9 1.3 0.3 0.3 2

 3 Life insurance companies 14.0 64.1 33.2 64.2 26.3 13.6 79.9 -12.2 29.8 3

 4 Net change in assets 15.1 65.6 34.4 65.2 27.4 14.5 81.2 -11.9 30.0 4

 5 Households 15.1 57.8 18.2 59.9 24.6 6.2 73.5 -26.6 19.2 5

 6 U.S.-chartered depository institutions 0.0 8.2 10.9 6.4 0.8 4.5 5.2 7.4 5.7 6

 7 Holding companies 0.0 -0.4 5.3 -1.2 2.1 3.8 2.4 7.3 5.1 7

F.226 Pension Entitlements

Billions of dollars

 1 Net change in liabilities 598.0 602.5 620.9 552.5 397.6 595.8 499.2 497.9 494.9 1

 2 Life insurance companies (1) 120.3 95.8 106.8 167.9 -79.6 72.5 85.2 80.3 38.1 2

 3 Private pension funds (2) 169.1 189.8 182.7 106.6 153.4 177.5 95.7 114.1 121.9 3

 4 State and local govt. retirement funds 210.7 221.5 235.9 181.5 230.0 243.6 205.3 201.5 224.9 4

 5 Federal government retirement funds (3) 97.8 95.3 95.4 96.5 93.7 102.1 113.0 102.0 109.9 5

 6 Net change in assets (Households) (4) 598.0 602.5 620.9 552.5 397.6 595.8 499.2 497.9 494.9 6

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs) (table F.226.i), except those at life insurance companies.

F.227 Taxes Payable by Businesses

Billions of dollars

 1 Net change in taxes payable by all -4.7 22.5 -69.3 -123.8 -3.4 19.4 20.6 11.2 11.4 1

 businesses

 2 Nonfinancial corporate business -1.8 -0.8 -49.6 3.1 -3.3 7.2 8.8 2.3 -9.3 2

 3 Nonfinancial noncorporate business 8.7 9.0 3.8 6.7 -6.3 -0.7 1.2 2.0 3.1 3

 4 U.S.-chartered depository institutions -7.8 -1.4 -15.6 -86.0 7.3 6.6 10.6 7.0 0.1 4

 5 Property-casualty insurance companies -3.1 11.0 -2.4 -28.1 5.3 5.6 -4.4 3.8 19.1 5

 6 Life insurance companies -2.6 4.0 -3.4 -19.7 -7.0 2.6 5.2 -4.6 -2.3 6

 7 Finance companies 1.9 0.0 -1.5 -0.1 -2.8 0.3 0.5 0.2 0.1 7

 8 Brokers and dealers -0.1 0.7 -0.6 0.3 3.2 -2.1 -1.1 0.5 0.6 8

 9 Net change in business taxes receivable 40.3 5.6 -32.4 -56.8 30.1 28.0 27.6 29.9 30.9 9

 10 State and local governments 14.3 12.1 3.0 5.2 -5.8 1.0 2.0 2.0 3.1 10

 11 Federal government 26.0 -6.5 -35.4 -62.0 35.9 27.1 25.6 27.9 27.8 11

 12 Discrepancy -45.0 16.9 -36.8 -67.0 -33.5 -8.6 -7.0 -18.7 -19.5 12

F.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment -55.4 -8.4 -49.9 -309.8 -111.5 159.8 -61.4 -5.4 -46.8 1

 2 Nonfinancial noncorporate business -54.2 -1.6 -53.5 -321.4 -112.1 158.9 -58.6 -12.2 -43.0 2

 3 Brokers and dealers -1.2 -6.8 3.6 11.6 0.6 0.9 -2.9 6.7 -3.9 3
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Historical Annuals, 2005-2013, September 18, 2014 57

F.229 Direct Investment

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 36.2 244.9 414.0 329.1 310.4 301.1 419.1 333.0 349.5 1

 2 Equity 51.6 266.3 431.4 360.1 262.1 343.0 401.5 319.0 352.1 2

 3 Equity (other than reinvested earnings) 61.9 49.0 200.9 127.0 34.6 40.6 89.1 28.6 14.4 3

 4 Reinvested earnings -10.3 217.3 230.5 233.1 227.4 302.5 312.4 290.4 337.7 4

 5 Of which: Current-cost adjustment 20.9 20.7 20.5 20.8 22.5 23.3 22.5 21.6 21.2 5

 6 Intercompany debt (2) -15.4 -21.4 -17.3 -31.1 48.3 -42.0 17.5 14.0 -2.6 6

 7 U.S. parents’ claims -4.4 11.7 22.7 -29.0 52.5 1.5 42.2 17.1 23.3 7

 8 Less: U.S. parents’ liabilities 11.0 33.1 40.0 2.0 4.2 43.5 24.7 3.1 25.9 8

 9 Asset: Nonfinancial corporate business 24.7 219.2 307.0 262.6 269.7 303.3 403.9 315.9 317.4 9

 10 Of which: Current-cost adjustment 20.9 20.7 20.5 20.8 22.5 23.3 22.5 21.6 21.2 10

 11 U.S.-chartered depository institutions 0.5 -1.7 32.8 17.6 -0.8 2.7 -6.2 -2.6 3.5 11

 12 Property-casualty insurance companies 10.8 3.1 17.6 6.8 16.3 -22.2 1.1 0.2 14.1 12

 13 Life insurance companies 1.4 0.8 5.8 4.6 1.6 1.9 3.3 5.2 1.2 13

 14 Finance companies 4.5 8.0 26.4 24.2 11.0 6.8 12.0 7.7 4.0 14

 15 Brokers and dealers -5.7 15.6 24.4 13.3 12.5 8.7 4.9 6.7 9.2 15

 Foreign direct investment in U.S.:

 16 Liab.: Nonfinancial corporate business 98.7 192.0 212.1 189.6 104.6 157.0 192.7 170.1 207.1 16

 17 Of which: Current-cost adjustment 7.9 6.0 5.2 3.7 6.8 7.8 6.2 5.6 5.5 17

 18 Nonfinancial noncorporate business 0.1 -0.9 -0.2 -0.2 0.1 0.3 0.0 0.6 0.5 18

 19 Foreign banking offices in U.S. 9.4 13.8 -0.8 24.8 16.6 12.4 26.0 -0.8 4.0 19

 20 Property-casualty insurance companies -0.1 23.1 7.1 14.9 2.4 2.8 -2.2 -5.3 6.8 20

 21 Life insurance companies 0.4 14.4 -1.0 12.5 11.1 6.3 -5.4 1.4 5.1 21

 22 Finance companies 6.3 5.2 -5.6 12.2 12.8 13.2 6.1 -0.8 0.5 22

 23 Brokers and dealers -2.6 -5.1 9.0 55.8 2.1 13.2 18.2 9.4 11.6 23

 24 Funding corporations 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 24

 25 Asset: Rest of the world (1) 112.6 243.2 221.2 310.1 150.4 205.9 236.1 175.2 236.3 25

 26 Equity 112.5 184.1 190.4 294.9 148.5 203.1 185.1 191.4 226.8 26

 27 Equity (other than reinvested earnings) 70.7 115.0 142.3 255.7 126.8 140.5 106.5 93.9 126.9 27

 28 Reinvested earnings 41.7 69.1 48.2 39.1 21.7 62.7 78.6 97.5 99.9 28

 29 Of which: Current-cost adjustment 7.9 6.0 5.2 3.7 6.8 7.8 6.2 5.6 5.5 29

 30 Intercompany debt 0.2 59.0 30.7 15.2 2.0 2.7 51.0 -16.2 9.4 30

 31 U.S. affiliates’ liabilities 14.9 77.1 109.6 35.9 1.1 12.7 47.7 23.3 42.3 31

 32 Less: U.S. affiliates’ claims 14.7 18.0 78.9 20.6 -0.9 10.0 -3.4 39.5 32.8 32

 Memo:

 Direct investment, asset/liability presentation:

 33 Net U.S. acquisition of direct investment assets 61.9 296.1 532.9 351.7 313.7 354.6 440.4 375.5 408.2 33

 34 Equity (line 2) 51.6 266.3 431.4 360.1 262.1 343.0 401.5 319.0 352.1 34

 35 Intercompany debt 10.3 29.7 101.6 -8.4 51.7 11.5 38.9 56.5 56.1 35

 36 U.S. parents’ claims (line 7) -4.4 11.7 22.7 -29.0 52.5 1.5 42.2 17.1 23.3 36

 37 U.S. affiliates’ claims (line 32) 14.7 18.0 78.9 20.6 -0.9 10.0 -3.4 39.5 32.8 37

 38 Net U.S. incurrence of direct investment liabilities 138.3 294.3 340.1 332.7 153.8 259.3 257.4 217.8 295.0 38

 39 Equity (line 26) 112.5 184.1 190.4 294.9 148.5 203.1 185.1 191.4 226.8 39

 40 Intercompany debt 25.9 110.1 149.6 37.9 5.3 56.2 72.4 26.4 68.1 40

 41 U.S. parents’ liabilities (line 8) 11.0 33.1 40.0 2.0 4.2 43.5 24.7 3.1 25.9 41

 42 U.S. affiliates’ liabilities (line 31) 14.9 77.1 109.6 35.9 1.1 12.7 47.7 23.3 42.3 42

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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58 Historical Annuals, 2005-2013, September 18, 2014

F.230 Total Miscellaneous Financial Claims

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in liabilities 1187.0 1424.4 1992.3 916.8 247.3 601.9 1232.5 1152.9 1397.0 1

 2 Household sector 1.0 0.5 1.0 3.2 -4.9 2.7 -0.4 0.6 3.0 2

 3 Nonfinancial corporate business 702.7 647.6 1094.9 428.8 143.6 493.1 863.9 895.4 774.8 3

 4 Nonfinancial noncorporate business 142.7 144.6 93.9 114.3 32.6 -50.9 34.4 17.4 4.8 4

 5 State and local governments 57.7 74.9 116.8 163.7 303.9 275.5 316.5 300.2 290.0 5

 6 Federal government 111.1 104.3 124.3 107.1 97.0 110.7 123.7 95.7 104.8 6

 7 Rest of the world 20.9 43.3 67.8 522.0 -518.3 2.7 132.9 -140.0 -23.3 7

 8 Monetary authority 2.8 3.2 2.5 2.2 6.1 29.2 -26.7 2.0 9.8 8

 9 U.S.-chartered depository institutions 17.7 47.9 112.3 -144.4 358.2 -8.9 -94.9 147.2 124.4 9

 10 Foreign banking offices in U.S. 31.7 27.2 68.5 80.2 -158.9 -30.5 10.1 -35.7 -33.2 10

 11 Banks in U.S.-affiliated areas -0.8 -4.5 -11.9 -3.8 4.3 -5.9 -3.9 -2.0 -3.0 11

 12 Credit unions 2.6 -2.7 -5.6 1.1 14.7 -8.3 1.3 0.3 1.5 12

 13 Property-casualty insurance companies 52.3 16.6 18.7 25.4 -5.0 6.3 35.2 -1.0 -0.3 13

 14 Life insurance companies 28.9 40.0 79.0 -80.0 89.5 60.2 48.5 27.5 18.6 14

 15 Government-sponsored enterprises 0.0 12.0 18.4 38.1 62.3 -42.2 -49.2 -6.1 -9.4 15

 16 Finance companies 21.9 8.4 -1.3 -1.9 -104.1 -71.7 -19.1 -24.7 -26.4 16

 17 REITs 4.5 7.7 4.6 -2.7 -5.3 4.1 7.1 25.4 -21.7 17

 18 Brokers and dealers 28.8 102.9 37.2 -171.9 61.7 9.0 -19.4 -7.7 41.3 18

 19 Holding companies -61.4 110.5 6.8 -164.0 -26.9 -68.5 -36.2 -98.6 222.0 19

 20 Funding corporations 21.8 40.0 164.4 -0.4 -103.1 -104.8 -91.4 -42.9 -80.7 20

 21 Net change in assets 1491.1 1976.4 1743.1 -20.0 12.1 301.0 618.2 610.1 1321.7 21

 22 Household sector 58.0 37.4 66.1 55.1 34.9 8.3 70.7 -6.1 52.2 22

 23 Nonfinancial corporate business 417.7 502.0 629.3 -614.5 -167.9 214.8 23.6 229.0 291.3 23

 24 Nonfinancial noncorporate business 256.7 381.9 330.8 107.5 -92.5 105.0 7.4 44.4 16.4 24

 25 State and local governments 6.0 6.4 7.3 -5.2 25.3 -22.2 -0.1 8.1 6.2 25

 26 Federal government 1.9 3.1 2.0 -28.0 35.2 -3.6 2.0 -1.0 5.9 26

 27 Monetary authority -3.2 0.1 25.8 530.2 -493.8 7.8 142.9 -27.6 32.3 27

 28 U.S.-chartered depository institutions 50.0 -8.4 18.4 7.6 40.1 -133.9 -88.3 -12.7 -8.3 28

 29 Foreign banking offices in U.S. 3.4 3.3 8.3 3.1 -4.4 -15.3 15.0 -0.3 13.1 29

 30 Banks in U.S.-affiliated areas 0.1 0.6 6.1 -1.0 -4.5 4.5 0.8 0.2 8.6 30

 31 Credit unions 0.1 5.0 5.2 -0.4 0.2 41.1 -12.1 0.8 -1.6 31

 32 Life insurance companies 10.6 40.5 33.7 31.5 -23.1 -7.6 52.4 31.2 24.4 32

 33 Private pension funds 91.9 143.5 57.5 100.2 192.8 8.5 50.2 35.2 42.2 33

 34 State and local govt. retirement funds 112.0 118.7 131.1 110.1 316.3 305.0 308.0 292.9 310.3 34

 35 Federal government retirement funds 83.1 80.7 81.0 80.9 77.5 85.9 91.6 90.7 91.4 35

 36 Money market mutual funds -8.9 6.8 29.4 -33.9 -8.3 -3.4 -0.8 6.1 2.8 36

 37 Mutual funds 3.7 3.3 2.8 3.2 -5.1 -12.0 2.9 -33.1 19.1 37

 38 Government-sponsored enterprises 4.0 -3.2 27.0 -42.6 1.2 29.3 -0.1 4.1 13.1 38

 39 Finance companies 47.7 -39.5 -33.3 -19.8 17.4 -110.1 -5.9 -33.4 -22.3 39

 40 REITs 11.6 7.8 -4.4 -0.8 10.2 1.3 8.5 25.8 12.2 40

 41 Brokers and dealers 223.4 409.5 22.9 -628.4 42.4 -112.9 -106.6 -68.1 147.7 41

 42 Holding companies 53.5 245.9 178.2 283.1 85.4 -31.2 36.5 16.9 251.8 42

 43 Funding corporations 67.9 31.1 117.6 42.1 -67.2 -58.4 19.6 7.2 13.0 43

 44 Discrepancy -304.1 -552.0 249.2 936.8 235.3 301.0 614.3 542.8 75.3 44
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Historical Annuals, 2005-2013, September 18, 2014 59

F.231 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 1.3 2.0 1.7 1.4 1.7 2.3 2.6 2.4 2.2 1

 2 Asset: Federal government 1.3 2.0 1.7 1.4 1.7 2.3 2.6 2.4 2.2 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 0.1 3

 4 Asset: U.S.-chartered depository institutions 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 0.1 4

 Equity in govt.-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 1.9 0.2 9.1 -4.2 0.0 -2.7 -5.9 -1.8 0.5 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.0 0.1 0.1 -0.1 0.0 0.1 -0.0 0.0 0.0 6

 7 Nonfinancial noncorporate (FCS) -0.1 0.2 0.7 1.2 -0.0 0.4 0.3 0.2 0.6 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 2.0 -0.2 7.0 -6.5 0.7 -3.0 -6.1 -2.2 -0.6 9

 10 Credit unions (FHLB) 0.1 0.2 0.6 0.3 -0.4 -0.2 0.7 0.1 -0.6 10

 11 Life insurance companies (FHLB) -0.1 0.0 0.6 1.0 -0.3 -0.0 -0.8 0.1 1.0 11

 Holding company net transactions with subsidiaries:

 12 Liab.: U.S.-chartered depository institutions 27.9 97.2 114.0 113.6 166.8 33.4 76.1 101.2 59.3 12

 13 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -6.8 -6.0 13

 14 Life insurance companies 9.7 2.7 5.3 -12.5 9.3 22.2 9.3 10.3 3.4 14

 15 Finance companies -38.9 3.2 41.5 -7.3 -23.3 -39.5 -20.3 -3.5 -15.8 15

 16 Brokers and dealers 87.0 27.2 -57.5 98.2 -173.1 -24.3 -13.0 52.3 57.1 16

 17 Rest of the world 19.6 41.3 42.2 -9.1 23.5 10.6 30.6 -51.5 -16.9 17

 18 Asset: Holding companies 105.3 171.7 145.5 183.0 3.1 2.4 82.7 101.9 81.0 18

 NFC investment in finance company subsidiaries:

 19 Liab.: Finance companies 64.4 22.9 -54.8 -1.1 -9.3 26.7 8.4 2.6 14.7 19

 20 Asset: Nonfinancial corporate business 64.4 22.9 -54.8 -1.1 -9.3 26.7 8.4 2.6 14.7 20

 Funding corporations’ investment in subsidiaries:

 21 Liab.: Foreign banking offices in U.S. 21.0 8.6 43.7 35.6 -73.5 -31.5 -33.7 -11.8 -2.5 21

 22 Brokers and dealers 46.9 22.6 73.9 6.4 6.3 -26.9 53.4 19.0 15.5 22

 23 Asset: Funding corporations 67.9 31.1 117.6 42.1 -67.2 -58.4 19.6 7.2 13.0 23

 Equity investment under Public-Private Inv. Program:

 24 Liab.: Funding corporations 0.0 0.0 0.0 0.0 2.4 7.9 1.4 0.1 0.0 24

 25 Asset: Households (2) 0.0 0.0 0.0 0.0 1.2 4.0 0.7 0.0 0.0 25

 26 Federal government 0.0 0.0 0.0 0.0 1.2 4.0 0.7 0.0 0.0 26

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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60 Historical Annuals, 2005-2013, September 18, 2014

F.232 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 0.0 0.0 24.0 529.7 -543.5 -10.2 99.7 -90.9 -8.6 1

 2 Asset: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 2

 3 Monetary authority (1) 0.0 0.0 24.0 529.7 -543.5 -10.2 99.7 -90.9 -8.6 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 4

 5 Asset: Household sector 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 0.8 -0.2 1.9 -5.4 0.4 -1.5 -1.8 1.2 -3.2 6

 7 Asset: U.S.-chartered depository institutions 0.8 -0.2 1.9 -5.4 0.4 -1.5 -1.8 1.2 -3.2 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 1.0 0.5 1.0 3.2 -4.9 2.7 -0.4 0.6 3.0 8

 9 Asset: Life insurance companies 1.0 0.5 1.0 3.2 -4.9 2.7 -0.4 0.6 3.0 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 9.5 14.8 15.5 17.6 8.4 17.1 14.8 -1.8 0.4 10

 11 Accident and health 7.9 11.5 13.5 19.5 9.7 17.0 15.6 -2.4 0.2 11

 12 Policy dividend accumulation 1.0 0.8 0.2 -3.4 -1.1 0.4 -1.8 0.4 0.2 12

 13 Contract claims 0.6 2.5 1.8 1.5 -0.1 -0.4 0.9 0.3 -0.0 13

 14 Asset: Household sector 9.5 14.8 15.5 17.6 8.4 17.1 14.8 -1.8 0.4 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 52.3 16.6 18.7 25.4 -5.0 6.3 35.2 5.8 5.7 15

 16 Asset: Household sector 25.6 4.6 6.7 11.0 8.7 -35.2 36.7 -17.7 39.7 16

 17 Nonfinancial corporate business 21.2 7.6 8.3 10.9 -4.0 11.7 10.1 7.6 -6.6 17

 18 Nonfinancial noncorporate business 5.5 4.4 3.7 3.4 -9.8 29.9 -11.6 15.9 -27.4 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 16.4 2.0 36.7 -74.2 113.9 13.4 10.4 -1.7 16.9 19

 20 Asset: Private pension funds 7.0 -12.2 25.7 -38.3 90.8 -0.4 20.7 5.0 10.7 20

 21 State and local government retirement funds 9.4 14.2 11.1 -35.8 23.0 13.8 -10.3 -6.7 6.2 21

 Pension fund contributions payable:

 22 Liab.: Nonfinancial corporate business -1.9 -2.0 4.5 14.7 -8.6 15.4 3.0 -12.3 -0.6 22

 23 Asset: Private pension funds -1.9 -2.0 4.5 14.7 -8.6 15.4 3.0 -12.3 -0.6 23

 Securities borrowed (net):

 24 Liab.: Funding corporations 174.9 302.6 -2.1 -353.2 -30.2 -123.5 -74.6 -79.2 94.0 24

 25 Asset: Brokers and dealers 174.9 302.6 -2.1 -353.2 -30.2 -123.5 -74.6 -79.2 94.0 25

 Nonmarketable government securities:

 26 Liab.: Federal government 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 98.2 26

 27 Asset: Federal government retirement funds 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 98.2 27

 Retiree health care funds (2):

 28 Liab.: Federal government 23.0 18.1 43.9 26.5 16.6 22.5 18.5 13.3 12.2 28

 29 Asset: Household sector 23.0 18.1 43.9 26.5 16.6 22.5 18.5 13.3 12.2 29

 Claims of pension fund on sponsor (3):

 30 Liab.: Nonfinancial corporate business 93.1 148.4 -4.9 123.4 82.8 -20.7 -16.8 8.4 12.1 30

 31 State and local governments 57.7 74.9 116.8 163.7 303.9 275.5 316.5 300.2 290.0 31

 32 Federal government 43.1 44.9 47.7 17.6 15.6 20.2 20.8 50.3 -6.8 32

 33 Asset: Private pension funds 93.1 148.4 -4.9 123.4 82.8 -20.7 -16.8 8.4 12.1 33

 34 State and local govt. retirement funds 57.7 74.9 116.8 163.7 303.9 275.5 316.5 300.2 290.0 34

 35 Federal government retirement funds 43.1 44.9 47.7 17.6 15.6 20.2 20.8 50.3 -6.8 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.

(3) Assets of the household sector.
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Historical Annuals, 2005-2013, September 18, 2014 61

F.233 Unidentified Miscellaneous Financial Claims

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net change in liabilities 434.6 538.4 1433.0 140.8 300.9 340.0 627.4 805.9 772.1 1

 2 Nonfinancial corporate business 611.5 501.1 1095.3 290.6 69.4 498.4 877.8 899.4 763.3 2

 3 Nonfinancial noncorporate business 142.7 144.6 93.9 114.3 32.6 -50.9 34.4 17.4 4.8 3

 4 Federal government 5.0 5.6 -0.6 -0.3 2.9 2.4 13.6 -8.3 1.3 4

 5 Monetary authority 1.1 1.4 -0.7 -0.5 1.5 28.3 -27.1 1.5 9.7 5

 6 U.S.-chartered depository institutions -10.1 -49.3 -1.7 -258.1 191.5 -42.3 -171.0 45.9 65.1 6

 7 Foreign banking offices in U.S. 10.5 18.5 24.9 44.9 -85.1 0.9 43.9 -23.9 -30.6 7

 8 Banks in U.S.-affiliated areas -0.8 -4.5 -11.9 -3.8 4.3 -5.9 -3.9 -2.0 -3.0 8

 9 Credit unions 2.6 -2.7 -5.6 1.1 14.7 -8.3 1.3 0.3 1.5 9

 10 Life insurance companies -6.7 20.5 21.4 -11.0 -42.1 7.4 14.0 20.7 -2.1 10

 11 Government-sponsored enterprises -2.7 12.0 7.3 47.7 61.9 -37.9 -41.4 -5.4 -6.7 11

 12 Finance companies -3.7 -17.8 12.0 6.5 -71.5 -58.8 -7.1 -23.8 -25.3 12

 13 REITs 4.5 7.7 4.6 -2.7 -5.3 4.1 7.1 25.4 -21.7 13

 14 Brokers and dealers -105.0 53.2 20.8 -276.6 228.6 60.2 -59.8 -79.0 -31.3 14

 15 Holding companies -61.4 110.5 6.8 -164.0 -26.9 -68.5 -36.2 -98.6 222.0 15

 16 Funding corporations -153.1 -262.6 166.5 352.9 -75.3 10.8 -18.1 36.2 -174.7 16

 17 Net change in assets 738.8 1090.3 1183.8 -796.0 65.6 39.1 13.1 263.2 696.8 17

 18 Nonfinancial corporate business 332.0 471.4 675.7 -624.3 -154.7 176.3 5.1 218.7 283.1 18

 19 Nonfinancial noncorporate business 251.2 377.2 326.4 102.9 -82.7 74.7 18.8 28.3 43.2 19

 20 State and local governments 6.0 6.4 7.3 -5.2 25.3 -22.2 -0.1 8.1 6.2 20

 21 Federal government 0.6 1.0 0.4 -29.4 32.3 -9.8 -1.3 -3.5 3.7 21

 22 Monetary authority -3.2 0.1 1.8 0.5 49.6 18.0 43.1 63.4 40.9 22

 23 U.S.-chartered depository institutions 45.7 -9.8 6.4 16.8 34.4 -130.3 -80.7 -12.1 -4.7 23

 24 Foreign banking offices in U.S. 3.4 3.3 8.3 3.1 -4.4 -15.3 15.0 -0.3 13.1 24

 25 Banks in U.S.-affiliated areas 0.1 0.6 6.1 -1.0 -4.5 4.5 0.8 0.2 8.6 25

 26 Credit unions 0.0 4.9 4.6 -0.7 0.6 41.3 -12.8 0.7 -1.1 26

 27 Life insurance companies 9.7 40.0 32.1 27.4 -17.8 -10.2 53.6 30.6 20.4 27

 28 Private pension funds -6.4 9.2 32.2 0.4 27.8 14.2 43.4 34.1 19.9 28

 29 State and local govt. retirement funds 44.9 29.5 3.2 -17.7 -10.6 15.7 1.7 -0.6 14.1 29

 30 Money market mutual funds -8.9 6.8 29.4 -33.9 -8.3 -3.4 -0.8 6.1 2.8 30

 31 Mutual funds 3.7 3.3 2.8 3.2 -5.1 -12.0 2.9 -33.1 19.1 31

 32 Government-sponsored enterprises 4.0 -3.2 27.0 -42.6 1.2 29.3 -0.1 4.1 13.1 32

 33 Finance companies 47.7 -39.5 -33.3 -19.8 17.4 -110.1 -5.9 -33.4 -22.3 33

 34 REITs 11.6 7.8 -4.4 -0.8 10.2 1.3 8.5 25.8 12.2 34

 35 Brokers and dealers 48.5 106.9 24.9 -275.1 72.6 10.6 -32.0 11.1 53.7 35

 36 Holding companies -51.8 74.2 32.7 100.1 82.3 -33.6 -46.2 -85.0 170.8 36

 37 Discrepancy -304.1 -552.0 249.2 936.8 235.3 301.0 614.3 542.8 75.3 37
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62 Historical Annuals, 2005-2013, September 18, 2014

F.11 Sector Discrepancies

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 All sectors -237.7 309.2 180.4 305.6 405.9 355.9 545.9 621.8 146.0 1

 2 Household sector 62.6 223.6 -249.2 -701.3 45.5 -294.2 -459.1 -96.0 -294.9 2

 3 Nonfinancial corporate business 164.6 164.8 166.3 980.8 -135.6 296.1 797.5 792.7 491.0 3

 4 State and local governments -182.3 -132.3 -121.4 47.1 67.2 -1.7 45.6 -32.5 20.9 4

 5 Federal government 20.9 12.5 31.9 71.8 -61.0 -55.5 -16.3 -64.7 -46.4 5

 6 Rest of the world 31.5 276.3 566.0 -84.5 349.8 180.3 65.5 29.1 72.2 6

 7 Financial sectors -335.0 -235.5 -213.1 -8.2 140.0 230.8 112.7 -6.7 -96.6 7

 8 Monetary authority 3.3 1.5 -2.8 -0.3 -6.0 -10.0 -1.2 -18.8 -1.9 8

 9 U.S.-chartered depository institutions -190.3 -173.7 -103.4 8.8 149.1 185.8 104.9 38.6 -34.8 9

 10 Foreign banking officed in U.S. -36.7 -9.8 -69.2 -94.1 175.0 -17.6 1.4 12.2 -70.5 10

 11 Banks in U.S.-affiliated areas -0.9 -0.2 -7.4 -0.5 6.2 -0.0 1.0 -0.1 -0.3 11

 12 Credit unions 2.0 -3.1 8.0 11.7 10.9 -6.4 -27.2 4.8 13.8 12

 13 Property-casualty insurance companies -18.5 28.2 0.2 0.4 -22.2 76.6 4.6 -15.0 12.6 13

 14 Life insurance companies -11.1 -29.0 -50.8 -71.6 -84.7 -31.8 -30.3 -38.0 -22.5 14

 15 Mutual funds -38.4 -47.2 -58.3 -52.7 -40.7 -24.9 -35.7 -39.8 -41.3 15

 16 Government-sponsored enterprises -14.7 -1.5 25.6 97.3 9.1 43.0 3.0 34.3 0.7 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 17

 18 Finance companies -34.5 14.9 9.7 31.1 11.5 9.9 43.2 30.6 20.9 18

 19 REITs 10.1 3.0 37.8 -6.1 -8.0 9.8 18.9 30.0 59.6 19

 20 Brokers and dealers -10.1 -24.5 -3.3 72.7 -56.3 -6.0 30.5 -43.0 -30.2 20

 21 Holding companies 4.9 5.9 0.8 -5.0 -4.0 2.3 -0.2 -2.6 -2.7 21

F.12 Instrument Discrepancies

Billions of dollars

 1 All types -237.7 309.2 180.4 305.6 405.9 355.9 545.9 621.8 146.0 1

 2 Treasury currency 0.7 -1.1 -1.2 -0.8 -4.4 -1.1 -0.7 -0.6 -1.1 2

 3 Foreign deposits 2.2 198.6 241.4 -273.0 -55.1 49.2 -136.3 -137.7 -12.4 3

 4 Net interbank transactions 0.9 -0.7 5.2 44.8 14.5 25.8 3.5 5.7 56.8 4

 5 Security repurchase agreements 128.2 294.0 -210.2 -253.1 207.1 55.0 68.7 -9.6 -167.0 5

 6 Mail floats -4.9 -3.0 1.0 -5.2 -0.3 -1.1 0.8 1.5 -0.7 6

 7 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Federal government -6.6 -3.0 1.2 -3.3 0.7 0.0 -0.1 0.6 0.4 8

 9 Private domestic 1.7 -0.0 -0.1 -2.0 -1.0 -1.1 0.9 0.9 -1.2 9

 10 Trade credit -46.5 143.7 -45.9 27.4 122.7 -10.2 -31.4 33.8 8.1 10

 11 Taxes payable -45.0 16.9 -36.8 -67.0 -33.5 -8.6 -7.0 -18.7 -19.5 11

 12 Miscellaneous -304.1 -552.0 249.2 936.8 235.3 301.0 614.3 542.8 75.3 12

 13 Nonfinancial 30.8 212.7 -22.2 -104.2 -80.3 -54.1 33.9 204.6 206.5 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) -35.5 -217.3 17.5 99.4 75.3 49.2 -38.3 -209.2 -211.9 14

 15 Contr. for govt. soc. insur., U.S. affiliated areas 4.7 4.6 4.7 4.8 5.0 4.9 4.4 4.6 5.4 15
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Historical Annuals, 2005-2013, September 18, 2014 63

L.100 Households and Nonprofit Organizations (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 45516.7 50355.5 53029.5 46047.9 48653.8 52946.9 53925.0 58121.8 65000.1 1

 2 Deposits 6257.5 6900.3 7560.6 8180.1 8098.0 8071.9 8746.6 9263.4 9630.5 2

 3 Foreign deposits 63.8 69.9 87.7 69.9 62.7 67.3 57.4 49.7 52.5 3

 4 Checkable deposits and currency 285.9 239.7 153.3 295.2 396.1 423.7 752.2 899.1 1035.0 4

 5 Time and savings deposits 4965.0 5484.1 5973.6 6234.6 6326.0 6450.8 6822.2 7190.7 7397.8 5

 6 Money market fund shares 942.7 1106.6 1345.9 1580.5 1313.1 1130.1 1114.9 1123.9 1145.2 6

 7 Credit market instruments 3452.8 3460.2 3987.7 4456.6 4827.7 4912.3 4374.0 4169.1 3848.8 7

 8 Open market paper 98.4 117.5 107.3 6.0 22.7 21.1 19.4 18.8 15.0 8

 9 Treasury securities 425.7 325.8 202.9 184.1 854.0 1126.6 707.0 929.3 949.0 9

 10 Agency- and GSE-backed securities 587.4 613.4 873.9 1056.6 357.4 335.4 300.2 152.7 97.7 10

 11 Municipal securities 1600.6 1635.7 1673.5 1720.8 1827.9 1871.5 1805.9 1661.0 1617.7 11

 12 Corporate and foreign bonds 591.4 556.0 914.2 1253.0 1539.2 1353.1 1343.0 1233.9 1004.6 12

 13 Other loans and advances (2) 8.7 9.1 17.6 29.7 26.8 26.2 23.4 20.9 25.9 13

 14 Mortgages 140.8 123.6 110.7 111.8 110.9 100.1 100.8 86.9 79.8 14

 15 Consumer credit (student loans) 0.0 79.2 87.6 94.6 88.8 78.4 74.5 65.6 59.1 15

 16 Corporate equities (3) 8025.4 10126.0 9911.7 5760.5 7255.5 8679.9 8475.6 9623.9 12451.3 16

 17 Mutual fund shares 3527.1 4080.3 4597.4 3261.8 4104.0 4641.1 4661.8 5705.4 7152.4 17

 18 Security credit 623.4 700.6 917.0 737.4 701.7 725.2 726.1 757.0 815.5 18

 19 Life insurance reserves 1082.6 1055.2 1076.8 1049.8 1109.2 1137.2 1199.0 1186.1 1232.8 19

 20 Pension entitlements (4) 13466.3 14478.7 15262.2 14286.6 15455.1 17031.7 17444.7 18457.8 19886.1 20

 21 Claims of pension fund on sponsor 1706.7 1625.6 1674.9 3468.2 3212.0 3523.7 3916.2 3812.0 3127.6 21

 22 Funded pension entitlements 11759.6 12853.0 13587.3 10818.4 12243.1 13508.0 13528.5 14645.8 16758.5 22

 23 Equity in noncorporate business 8473.0 8908.1 9003.8 7548.8 6301.6 6939.4 7418.3 8086.4 9057.7 23

 24 Miscellaneous assets 608.7 646.1 712.2 766.3 800.9 808.2 878.8 872.7 924.9 24

 25 Total liabilities 12162.4 13461.4 14394.3 14278.6 14062.1 13781.5 13574.0 13646.1 13801.2 25

 26 Credit market instruments 11721.3 12946.5 13830.4 13850.0 13558.9 13229.8 13060.9 13063.5 13179.2 26

 27 Home mortgages (5) 8912.7 9910.1 10611.7 10579.4 10418.1 9914.2 9698.5 9497.9 9415.9 27

 28 Consumer credit 2320.6 2461.9 2615.7 2650.6 2552.8 2647.4 2755.9 2923.6 3097.9 28

 29 Municipal securities 212.7 229.1 250.2 259.5 265.4 263.2 255.5 241.0 227.8 29

 30 Depository institution loans n.e.c. (6) -16.5 30.9 21.8 26.4 -15.9 61.0 11.5 62.6 92.7 30

 31 Other loans and advances 119.0 123.8 127.0 133.2 133.7 136.1 138.1 139.3 141.3 31

 32 Commercial mortgages 172.8 190.7 204.0 200.9 204.7 207.7 201.4 199.1 203.5 32

 33 Security credit 232.4 292.1 325.5 164.8 203.0 278.2 238.9 303.7 339.2 33

 34 Trade payables 186.3 199.9 214.5 236.7 278.2 248.8 250.0 254.0 255.0 34

 35 Deferred and unpaid life insurance premiums 22.4 22.8 23.9 27.0 22.1 24.7 24.3 24.9 27.9 35

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

 outstandings of nonprofit organizations.

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

(3) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 17), life insurance reserves (line 19) and pension entitlements (line 20).

(4) Includes public and private defined benefit and defined contribution pension plans and annuities, including those in IRAs, at life insurance companies. Excludes social security.

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

(6) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.108, line 19.
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64 Historical Annuals, 2005-2013, September 18, 2014

L.101 Nonfinancial Business (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 14497.4 15776.1 17348.9 16616.6 16893.8 17745.0 18250.4 19084.6 20235.0 1

 2 Foreign deposits 63.6 49.3 50.3 24.7 31.5 40.6 34.8 35.8 87.8 2

 3 Checkable deposits and currency 642.1 599.6 658.8 603.6 689.3 766.1 793.5 823.6 897.8 3

 4 Time and savings deposits 774.5 841.4 800.7 670.0 842.1 905.0 922.1 963.9 1022.3 4

 5 Money market fund shares 421.2 493.4 622.8 802.4 729.2 574.7 540.0 559.3 601.5 5

 6 Security repurchase agreements 14.6 15.5 8.1 7.2 7.9 12.1 12.6 9.7 8.8 6

 7 Credit market instruments 437.2 420.1 354.2 308.8 312.2 325.2 319.1 310.4 269.2 7

 8 Commercial paper 111.0 122.7 69.5 57.3 56.0 68.0 67.9 59.8 38.0 8

 9 Treasury securities 108.3 101.8 97.7 82.3 89.1 96.1 91.6 88.8 90.5 9

 10 Agency- and GSE-backed securities 17.4 15.2 12.8 10.2 14.3 16.0 14.3 13.2 9.4 10

 11 Municipal securities 36.6 33.9 34.5 31.1 32.2 29.6 28.0 29.8 18.0 11

 12 Mortgages 104.4 94.5 83.5 72.8 67.5 70.1 70.0 69.7 69.8 12

 13 Consumer credit 59.6 52.1 56.4 55.2 53.2 45.5 47.4 49.2 43.5 13

 14 Mutual fund shares 134.4 173.2 178.0 106.3 162.0 186.8 165.9 180.1 211.4 14

 15 Trade receivables 2539.2 2566.3 2780.9 2608.3 2550.8 2689.9 2779.5 2870.6 3027.4 15

 16 U.S. direct investment abroad 2205.7 2440.7 2892.9 3011.1 3245.1 3402.9 3759.2 4081.0 4370.0 16

 17 Miscellaneous assets 7265.0 8176.5 9002.3 8474.2 8323.6 8841.8 8923.8 9250.1 9738.7 17

 18 Total liabilities 15362.3 16585.1 18264.9 19019.5 18634.6 18902.3 19633.4 20763.8 21810.9 18

 19 Credit market instruments 8158.8 8983.1 10102.8 10678.9 10127.5 9955.2 10250.9 10782.8 11298.0 19

 20 Commercial paper 90.1 112.5 123.8 131.5 58.4 82.9 116.3 130.3 144.5 20

 21 Municipal securities 227.3 280.6 349.0 415.0 452.2 485.4 493.9 509.1 518.5 21

 22 Corporate bonds 2662.6 2737.3 2856.1 2972.6 3188.4 3367.8 3529.5 3853.9 4134.5 22

 23 Depository institution loans n.e.c. 1261.4 1398.7 1642.4 1826.1 1490.1 1404.6 1530.2 1680.1 1776.1 23

 24 Other loans and advances 1038.1 1179.9 1481.1 1561.4 1311.1 1118.9 1179.7 1217.4 1250.4 24

 25 Mortgages 2879.3 3274.0 3650.3 3772.3 3627.3 3495.7 3401.3 3391.9 3474.0 25

 26 Trade payables 2035.1 2161.7 2272.8 2053.4 1987.6 2174.2 2207.3 2289.3 2409.6 26

 27 Taxes payable 172.9 181.1 135.3 145.1 135.6 142.0 152.0 156.3 150.1 27

 28 Foreign direct investment in U.S. 1552.8 1726.3 1965.5 2053.9 1991.2 2134.0 2236.8 2415.5 2617.5 28

 29 Miscellaneous liabilities 3442.8 3532.9 3788.5 4088.2 4392.6 4496.8 4786.5 5120.0 5335.7 29

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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Historical Annuals, 2005-2013, September 18, 2014 65

L.102 Nonfinancial Corporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 11900.6 12659.5 13752.8 12923.2 13317.5 14016.8 14505.6 15265.6 16380.6 1

 2 Foreign deposits 63.6 49.3 50.3 24.7 31.5 40.6 34.8 35.8 87.8 2

 3 Checkable deposits and currency 268.0 150.7 143.1 84.2 154.9 234.5 264.2 279.4 357.3 3

 4 Time and savings deposits 450.4 497.0 441.3 311.9 488.8 548.7 561.9 598.8 649.5 4

 5 Money market fund shares 352.2 421.3 548.5 727.0 655.5 497.8 462.4 480.6 521.1 5

 6 Security repurchase agreements 14.6 15.5 8.1 7.2 7.9 12.1 12.6 9.7 8.8 6

 7 Credit market instruments 340.4 323.4 247.5 213.0 223.1 229.4 222.3 212.3 169.0 7

 8 Commercial paper 111.0 122.7 69.5 57.3 56.0 68.0 67.9 59.8 38.0 8

 9 Treasury securities 52.1 45.5 38.3 30.5 43.0 48.0 43.0 39.5 40.2 9

 10 Agency- and GSE-backed securities 17.4 15.2 12.8 10.2 14.3 16.0 14.3 13.2 9.4 10

 11 Municipal securities 32.1 28.1 29.2 26.2 27.1 23.9 22.3 24.0 12.1 11

 12 Mortgages 68.3 59.8 41.4 33.6 29.5 28.0 27.4 26.6 25.8 12

 13 Consumer credit 59.6 52.1 56.4 55.2 53.2 45.5 47.4 49.2 43.5 13

 14 Mutual fund shares 134.4 173.2 178.0 106.3 162.0 186.8 165.9 180.1 211.4 14

 15 Trade receivables 2108.2 2095.4 2255.2 2085.7 2054.5 2156.5 2240.3 2324.0 2469.4 15

 16 U.S. direct investment abroad (1) 2205.7 2440.7 2892.9 3011.1 3245.1 3402.9 3759.2 4081.0 4370.0 16

 17 Miscellaneous assets 5963.2 6492.9 6987.9 6352.3 6294.1 6707.4 6782.0 7063.9 7536.1 17

 18 Insurance receivables 283.9 291.5 299.8 310.9 307.0 318.7 328.8 336.4 329.8 18

 19 Equity in GSEs 0.5 0.6 0.7 0.4 0.4 0.6 0.5 0.6 0.6 19

 20 Investment in finance company subs. 117.0 140.1 81.5 80.5 71.2 60.7 69.1 71.7 86.4 20

 21 Other 5561.7 6060.7 6605.8 5960.5 5915.5 6327.4 6383.6 6655.3 7119.3 21

 22 Total liabilities 11181.8 11821.0 12915.4 13224.3 12903.6 13226.7 13878.4 14906.7 15827.8 22

 23 Credit market instruments 5260.7 5669.6 6327.6 6584.9 6142.1 6004.4 6264.8 6713.3 7118.0 23

 24 Commercial paper 90.1 112.5 123.8 131.5 58.4 82.9 116.3 130.3 144.5 24

 25 Municipal securities (2) 227.3 280.6 349.0 415.0 452.2 485.4 493.9 509.1 518.5 25

 26 Corporate bonds (1) 2662.6 2737.3 2856.1 2972.6 3188.4 3367.8 3529.5 3853.9 4134.5 26

 27 Depository institution loans n.e.c. 590.9 612.9 715.7 779.9 545.8 477.1 546.0 607.9 654.4 27

 28 Other loans and advances (3) 903.4 1028.4 1316.0 1383.9 1139.0 948.1 1008.3 1036.8 1063.5 28

 29 Mortgages 786.4 897.9 967.1 902.0 758.3 643.0 570.7 575.3 602.5 29

 30 Trade payables 1700.5 1812.9 1897.9 1672.7 1590.1 1746.4 1771.6 1854.8 1968.2 30

 31 Taxes payable 86.2 85.4 35.8 39.0 35.7 42.9 51.7 54.0 44.6 31

 32 Foreign direct investment in U.S. 1549.4 1722.7 1961.9 2050.3 1986.4 2128.7 2230.7 2408.9 2610.3 32

 33 Miscellaneous liabilities 2584.9 2530.4 2692.1 2877.5 3149.3 3304.4 3559.6 3875.7 4086.7 33

 34 Pension fund contributions payable 44.8 64.7 69.3 84.0 75.4 90.8 93.8 81.4 80.9 34

 35 Claims of pension fund on sponsor -30.1 -28.8 -20.8 677.4 497.6 446.5 517.2 389.8 131.4 35

 36 Other 2570.2 2494.5 2643.6 2116.1 2576.3 2767.0 2948.6 3404.5 3874.4 36

 Memo:

 37 Trade receivables net of payables 407.7 282.6 357.3 413.0 464.4 410.1 468.7 469.1 501.2 37

 38 Market value of equities 12686.6 14602.3 15730.7 10016.6 12512.2 14371.6 14388.7 15994.4 20761.7 38

 39 Securities and mortgages 3676.3 3915.8 4172.1 4289.6 4398.9 4496.2 4594.1 4938.3 5255.5 39

 40 Loans and short-term paper 1584.4 1753.9 2155.5 2295.3 1743.3 1508.2 1670.7 1775.0 1862.4 40

 41 Total short-term liabilities (4) 3371.2 3652.2 4089.3 4006.9 3369.0 3297.5 3493.9 3683.8 3875.3 41

 42 Total liquid assets (5) 1495.6 1518.5 1519.0 1385.3 1641.0 1676.5 1649.2 1720.9 1935.7 42

 Analytical measures (percent)

 43 Long-term debt/credit market debt 69.9 69.1 65.9 65.1 71.6 74.9 73.3 73.6 73.8 43

 44 Short-term debt/credit market debt 30.1 30.9 34.1 34.9 28.4 25.1 26.7 26.4 26.2 44

 45 Liquid assets/short-term liabilities 44.4 41.6 37.1 34.6 48.7 50.8 47.2 46.7 50.0 45

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

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

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

(4) Sum of lines 24, 27, 28, 30, and 31. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(5) Sum of lines 2 through 6, lines 8 through 11, and line 14.
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66 Historical Annuals, 2005-2013, September 18, 2014

L.103 Nonfinancial Noncorporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 2596.8 3116.6 3596.1 3693.4 3576.3 3728.3 3744.9 3819.0 3854.4 1

 2 Checkable deposits and currency 374.2 448.8 515.7 519.5 534.4 531.6 529.3 544.2 540.5 2

 3 Time and savings deposits 324.1 344.4 359.3 358.1 353.3 356.2 360.1 365.1 372.7 3

 4 Money market fund shares 69.0 72.2 74.3 75.4 73.7 76.8 77.7 78.7 80.4 4

 5 Credit market instruments 96.8 96.7 106.7 95.8 89.1 95.8 96.8 98.1 100.2 5

 6 Treasury securities 56.2 56.3 59.3 51.8 46.1 48.1 48.6 49.3 50.3 6

 7 Municipal securities 4.4 5.8 5.3 4.9 5.1 5.6 5.7 5.8 5.9 7

 8 Mortgages 36.2 34.6 42.1 39.1 37.9 42.1 42.5 43.1 44.0 8

 9 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Trade receivables 430.9 470.9 525.6 522.7 496.3 533.4 539.2 546.6 558.0 10

 11 Miscellaneous assets 1301.8 1683.6 2014.4 2121.9 2029.5 2134.4 2141.8 2186.2 2202.6 11

 12 Insurance receivables 99.3 103.7 107.4 111.6 101.8 131.7 120.1 135.9 108.5 12

 13 Equity investment in GSEs (1) 4.1 4.3 5.0 6.4 6.3 6.7 7.0 7.2 7.8 13

 14 Other 1198.4 1575.6 1902.0 2003.9 1921.3 1996.0 2014.8 2043.1 2086.3 14

 15 Total liabilities 4180.5 4764.1 5349.5 5795.2 5731.0 5675.6 5755.0 5857.1 5983.1 15

 16 Credit market instruments 2898.0 3313.4 3775.1 4094.0 3985.4 3950.9 3986.1 4069.5 4180.0 16

 17 Depository institution loans n.e.c. 670.5 785.8 926.7 1046.2 944.2 927.4 984.2 1072.2 1121.8 17

 18 Other loans and advances 134.6 151.5 165.2 177.4 172.1 170.8 171.3 180.7 186.9 18

 19 Mortgages 2092.9 2376.1 2683.3 2870.3 2869.0 2852.7 2830.6 2816.6 2871.4 19

 20 Trade payables 334.5 348.9 374.9 380.7 397.6 427.8 435.7 434.5 441.4 20

 21 Taxes payable 86.7 95.7 99.5 106.2 99.9 99.2 100.3 102.3 105.4 21

 22 Foreign direct investment in U.S. 3.3 3.6 3.6 3.7 4.8 5.3 6.1 6.6 7.3 22

 23 Miscellaneous liabilities 857.9 1002.5 1096.4 1210.7 1243.3 1192.4 1226.8 1244.2 1249.0 23

(1) Equity in the Farm Credit System.
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L.104 State and Local Governments (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 2317.2 2539.9 2785.0 2621.4 2668.6 2761.8 2748.6 2883.1 2938.2 1

 2 Checkable deposits and currency 66.0 71.5 71.1 79.4 99.0 104.6 121.2 117.2 123.9 2

 3 Time and savings deposits 168.8 185.9 218.6 236.5 246.4 240.6 256.2 289.5 301.9 3

 4 Money market fund shares 89.9 105.3 123.3 126.1 136.1 150.2 154.0 161.9 166.6 4

 5 Security repurchase agreements 130.0 135.7 142.1 130.2 126.1 125.0 121.6 128.3 132.5 5

 6 Credit market instruments 1376.4 1502.7 1658.3 1562.0 1526.1 1590.4 1540.5 1592.3 1561.5 6

 7 Open market paper 153.3 151.9 149.8 127.9 88.9 102.1 91.0 85.1 76.9 7

 8 Treasury securities 512.3 570.7 648.5 602.6 585.6 593.5 561.7 607.9 593.4 8

 9 Agency- and GSE-backed securities 413.4 452.6 497.6 479.9 490.2 513.9 507.0 504.7 490.9 9

 10 Municipal securities 6.9 8.3 10.0 10.4 11.5 12.9 13.2 13.7 13.9 10

 11 Corporate and foreign bonds 131.5 144.1 158.7 153.3 156.8 164.6 164.1 170.1 172.5 11

 12 Mortgages 158.9 175.0 193.6 187.9 193.0 203.5 203.4 210.8 213.9 12

 13 Corporate equities 116.0 132.9 141.7 91.0 111.8 126.3 125.2 140.7 167.6 13

 14 Mutual fund shares 40.7 49.1 55.0 36.3 48.5 58.4 59.3 67.3 81.2 14

 15 Trade receivables 142.5 151.3 159.1 143.7 139.1 152.2 154.5 160.3 168.7 15

 16 Taxes receivable 102.3 114.4 117.4 123.0 117.1 117.8 120.0 121.3 123.8 16

 17 Miscellaneous assets 84.6 91.0 98.3 93.2 118.5 96.3 96.2 104.3 110.5 17

 18 Total liabilities 3385.9 3393.2 3569.4 4702.0 4715.8 5050.4 5341.0 5348.4 4931.0 18

 19 Credit market instruments 2589.8 2690.8 2837.5 2855.4 2968.4 3038.0 2985.3 2980.0 2941.1 19

 20 Municipal securities 2579.2 2679.6 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 2924.9 20

 21 Short-term (2) 42.5 34.3 51.2 55.8 63.6 63.0 52.3 56.1 45.3 21

 22 Long-term 2536.7 2645.2 2774.4 2786.9 2891.3 2960.6 2917.6 2908.2 2879.6 22

 23 U.S. government loans 10.6 11.2 11.9 12.7 13.5 14.4 15.3 15.7 16.2 23

 24 Trade payables 482.0 516.2 553.0 591.6 630.5 669.0 707.4 746.2 785.8 24

 25 Claims of pension fund on sponsor (3) 314.0 186.2 178.9 1254.9 1116.9 1343.4 1648.3 1622.2 1204.1 25

(1) Data for employee retirement funds are shown in table L.118.

(2) Debt with original maturity of 13 months or less.

(3) Included in miscellaneous liabilities.
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68 Historical Annuals, 2005-2013, September 18, 2014

L.105 Federal Government

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 643.7 658.3 703.8 1292.3 1387.1 1612.2 1411.3 1516.9 1713.7 1

 2 U.S. official reserve assets 35.1 34.2 36.0 41.6 94.3 95.1 110.9 114.2 109.8 2

 3 Checkable deposits and currency 37.0 33.2 56.9 368.3 193.9 342.3 84.6 92.2 163.0 3

 4 Time and savings deposits 1.4 1.7 2.8 1.6 1.9 2.0 1.7 2.0 1.5 4

 5 Credit market instruments 271.7 294.8 301.6 395.1 704.3 792.4 810.7 915.6 1039.8 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 54.4 196.4 149.2 31.1 0.0 0.0 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.6 0.9 0.8 0.6 0.6 7

 8 Other loans and advances 105.3 105.9 103.6 109.7 175.9 179.5 184.3 186.7 193.9 8

 9 Mortgages 76.6 80.3 82.4 95.8 108.4 106.6 109.9 111.5 115.5 9

 10 Consumer credit (1) 89.8 108.7 115.7 135.1 223.1 356.2 484.7 616.8 729.8 10

 11 Corporate equities (2) 0.0 0.0 0.0 188.7 67.4 49.9 57.8 39.9 35.1 11

 12 Trade receivables 71.0 59.4 60.6 64.7 43.6 42.9 47.7 50.3 48.8 12

 13 Taxes receivable 91.6 96.1 105.0 119.4 133.9 144.3 152.8 158.6 165.8 13

 14 Miscellaneous assets 135.8 138.9 140.9 112.9 147.8 143.2 145.1 144.0 149.9 14

 15 Total liabilities 7370.3 7661.5 8054.1 9424.2 11003.4 12812.4 13996.0 15254.7 16132.6 15

 16 SDR allocations 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 54.4 16

 17 SDR certificates 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 17

 18 Treasury currency 27.5 28.1 27.4 26.6 26.2 25.9 25.9 25.9 25.6 18

 19 Credit market instruments 4701.9 4885.3 5122.3 6361.5 7805.4 9385.6 10453.6 11593.7 12352.8 19

 20 U.S. savings securities 205.2 202.4 196.5 194.1 191.3 188.0 185.3 182.5 179.2 20

 21 Treasury bills 960.7 940.8 999.5 1861.2 1787.9 1768.9 1519.5 1626.5 1590.6 21

 22 Other Treasury securities 3512.2 3718.5 3903.2 4282.9 5802.7 7404.6 8723.6 9759.9 10558.5 22

 23 Budget agency securities 23.8 23.5 23.1 23.3 23.5 24.2 25.3 24.9 24.5 23

 24 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Trade payables 202.6 208.8 238.2 260.7 204.5 209.7 218.5 233.9 250.7 25

 26 Insurance reserves 42.7 44.2 45.4 46.4 47.5 48.4 49.7 50.0 50.3 26

 27 Miscellaneous liabilities 2386.5 2485.6 2610.9 2719.3 2859.2 3083.1 3189.0 3291.6 3393.7 27

 28 Nonmarketable securities held by pension plans (3) 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 28

 29 Claims of pension fund on sponsor 1422.8 1468.3 1516.8 1535.8 1597.6 1733.7 1750.7 1800.0 1792.1 29

 30 Other 80.7 98.6 142.2 168.2 184.4 206.5 224.6 237.5 249.2 30

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

 the government purchased from depository institutions and finance companies.

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

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.
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Historical Annuals, 2005-2013, September 18, 2014 69

L.106 Rest of the World

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 10678.1 12803.2 14571.9 13699.4 14362.3 16054.1 17513.0 18951.0 21093.4 1

 2 SDR allocations 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 54.4 2

 3 Net interbank assets 36.7 42.0 -67.5 287.9 86.0 24.2 238.1 102.1 396.7 3

 4 U.S. checkable deposits and currency 300.1 311.6 306.1 370.1 361.0 390.5 472.3 540.4 590.3 4

 5 U.S. time deposits 223.2 257.2 298.9 372.4 299.2 308.2 355.6 393.4 442.8 5

 6 Money market fund shares 23.0 27.0 46.0 69.7 76.9 69.8 74.4 96.9 113.3 6

 7 Security repurchase agreements 705.0 1025.8 1098.4 563.2 489.4 581.8 678.5 671.9 734.1 7

 8 Credit market instruments 5142.7 6154.2 7270.7 7481.9 7662.4 8413.9 8944.8 9508.7 9732.3 8

 9 Open market paper 156.8 213.3 226.3 165.5 117.2 102.1 102.7 102.8 101.7 9

 10 Treasury securities 1984.4 2126.2 2376.4 3253.0 3670.6 4458.8 5004.4 5571.5 5794.9 10

 11 Treasury bills 264.7 253.3 302.7 758.0 750.4 710.3 647.7 661.7 686.0 11

 12 Other Treasury securities 1719.7 1872.8 2073.7 2495.0 2920.2 3748.5 4356.7 4909.8 5108.9 12

 13 Agency- and GSE-backed securities 1006.1 1258.2 1576.8 1402.2 1150.0 1095.8 1078.2 1001.2 885.3 13

 14 Municipal securities 29.0 34.4 45.1 51.0 58.7 71.7 72.4 71.8 76.1 14

 15 U.S. corporate bonds (1) 1803.8 2353.3 2775.0 2383.9 2483.5 2523.1 2491.0 2617.6 2734.0 15

 16 Loans to U.S. corporate business 162.5 168.8 271.1 226.4 182.5 162.3 196.1 143.9 140.4 16

 17 U.S. corporate equities 2118.4 2560.2 2956.2 1925.2 2658.4 3216.0 3397.2 3953.0 5163.7 17

 18 Mutual fund shares 162.7 204.7 229.5 137.6 182.4 260.0 370.4 495.4 544.5 18

 19 Trade receivables 53.3 59.2 80.0 86.5 93.1 111.8 128.8 140.5 144.4 19

 20 Foreign direct investment in U.S. (2) 1906.0 2154.1 2345.9 2397.4 2398.2 2623.6 2798.7 2994.3 3176.9 20

 21 Total liabilities 5709.7 6727.9 8159.3 7875.5 8149.5 8862.5 9431.5 9907.1 10265.5 21

 22 U.S. official reserve assets (3) 53.9 54.6 59.2 66.3 119.4 121.1 136.7 138.9 133.4 22

 23 U.S. private deposits 1165.5 1346.1 1636.2 1302.9 1258.4 1303.9 1066.4 922.8 954.8 23

 24 Security repurchase agreements 381.0 566.9 681.1 402.3 454.8 663.7 764.7 805.1 721.6 24

 25 Credit market instruments 1351.1 1658.4 1997.2 1605.0 2006.5 2258.5 2485.5 2828.0 2966.2 25

 26 Commercial paper 384.0 482.3 413.0 342.0 401.3 398.6 345.1 373.0 407.0 26

 27 Bonds 824.8 1024.3 1425.7 1091.2 1447.8 1677.6 1913.6 2186.5 2250.4 27

 28 Depository institution loans n.e.c. 110.4 127.4 137.3 152.4 137.5 162.0 205.2 237.7 276.7 28

 29 Other loans and advances 31.9 24.5 21.2 19.4 19.9 20.2 21.5 30.8 32.2 29

 30 Trade payables 33.6 37.4 48.4 44.4 45.1 51.1 55.1 55.7 45.3 30

 31 U.S. direct investment abroad (1,2) 2651.7 2948.2 3553.1 3748.5 4077.4 4273.6 4599.5 4972.9 5284.0 31

 32 Miscellaneous liabilities 73.0 116.3 184.2 706.2 187.9 190.6 323.6 183.5 160.2 32

 33 U.S. equity in IBRD, etc. 43.2 45.3 46.9 48.3 50.0 52.3 54.9 57.3 59.5 33

 34 Nonofficial foreign currencies 2.6 2.6 26.6 556.4 12.9 2.7 102.5 11.5 2.9 34

 35 Investment by holding companies 27.1 68.4 110.6 101.5 125.1 135.6 166.3 114.7 97.8 35

 Memo:

 36 Market value of foreign equities 3317.7 4329.0 5248.0 2748.4 3995.3 4900.2 4501.4 5311.5 6444.2 36

 held by U.S. residents (4)

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

(2) Direct investment is valued on a current-cost basis.

(3) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).
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70 Historical Annuals, 2005-2013, September 18, 2014

L.107 Financial Business (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 56161.7 61938.7 68057.4 67379.7 68436.3 69527.3 71082.5 75205.9 81073.2 1

 2 U.S. official reserve assets 29.9 31.4 34.2 35.7 36.2 37.0 36.8 35.8 34.6 2

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

 4 Treasury currency 36.5 38.2 38.7 38.7 42.7 43.5 44.2 44.8 45.5 4

 5 Foreign deposits 75.8 65.8 100.2 85.6 97.1 105.9 42.9 43.3 33.7 5

 6 Net interbank assets 70.1 70.1 124.4 1475.9 1126.4 1019.6 1622.6 1561.7 2321.8 6

 7 Checkable deposits and currency 186.9 244.6 277.0 378.5 348.2 327.1 364.3 374.4 371.5 7

 8 Time and savings deposits 357.6 356.5 451.7 573.8 716.8 641.6 594.5 624.2 706.5 8

 9 Money market fund shares 516.4 563.9 895.0 1178.6 1003.2 830.6 759.3 707.6 651.7 9

 10 Federal funds and security repos 2584.8 2746.0 3311.2 2813.1 2345.8 2623.8 2741.6 3114.6 2739.0 10

 11 Credit market instruments 30800.0 33593.3 36522.6 38249.9 37148.6 36288.2 37283.1 38554.4 40234.2 11

 12 Open market paper 1124.7 1353.0 1236.1 1243.2 853.2 764.2 688.4 686.0 720.0 12

 13 Treasury securities 1647.4 1737.2 1773.7 2216.3 2582.6 3086.6 4063.7 4371.4 4900.5 13

 14 Agency- and GSE-backed securities 4140.2 4153.1 4436.6 5163.5 5898.5 5487.9 5646.6 5882.9 6310.9 14

 15 Municipal securities 1346.1 1477.0 1661.7 1703.9 1742.3 1786.5 1799.9 1938.1 1945.6 15

 16 Corporate and foreign bonds 5614.6 6130.5 6695.3 6253.9 6191.8 6286.2 6416.8 6888.7 7191.6 16

 17 Depository institution loans n.e.c. 1583.0 1770.1 2094.5 2794.4 2035.9 2001.2 2147.8 2322.7 2508.8 17

 18 Other loans and advances 1543.3 1697.0 2116.1 2261.3 1711.0 1394.8 1363.9 1468.3 1574.8 18

 19 Mortgages 11629.6 13053.4 14152.5 14247.8 13945.6 13313.5 13006.7 12804.3 12816.7 19

 20 Consumer credit 2171.2 2221.9 2356.1 2365.6 2187.8 2167.3 2149.4 2192.0 2265.4 20

 21 Corporate equities 10376.3 11520.2 12571.3 7675.1 9992.5 11495.2 10905.0 12479.7 15853.9 21

 22 Mutual fund shares 2180.7 2557.7 2762.7 1846.0 2423.7 2726.6 2613.5 2877.9 3555.2 22

 23 Trade receivables 181.8 195.2 197.1 182.2 144.2 135.6 134.8 133.2 131.0 23

 24 Security credit 269.8 340.6 378.0 204.6 235.0 316.4 308.1 374.9 420.8 24

 25 Life insurance reserves 0.0 108.6 124.7 130.0 132.8 141.1 153.0 172.9 183.7 25

 26 U.S. direct investment abroad 446.0 507.4 660.2 737.4 832.3 870.7 840.3 891.9 914.0 26

 27 Miscellaneous assets 8046.8 8997.1 9606.2 11772.3 11805.5 11919.3 12633.2 13209.5 12871.0 27

 28 Total liabilities 53998.2 59447.8 65244.6 64732.9 65350.3 66207.2 67735.2 71337.6 76690.6 28

 29 Net interbank liabilities 46.0 50.7 0.6 1752.4 1215.5 1068.5 1889.0 1683.8 2795.4 29

 30 Checkable deposits and currency 1527.2 1507.3 1532.9 2101.3 2093.4 2359.8 2594.3 2853.8 3186.5 30

 31 Time and savings deposits 6490.6 7126.7 7746.4 8088.8 8432.5 8548.1 8952.2 9463.7 9872.9 31

 32 Money market fund shares 1993.1 2296.3 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2678.3 32

 33 Federal funds and security repos 3756.6 4427.8 4845.3 3555.7 3175.6 3597.9 3878.7 4130.1 3652.9 33

 34 Credit market instruments 12958.0 14261.3 16205.1 17103.4 15714.5 14455.3 14036.1 13802.5 13948.4 34

 35 Open market paper 1170.2 1363.5 1252.1 1126.3 678.2 576.0 507.9 449.1 400.2 35

 36 Agency- and GSE-backed securities 6140.7 6468.9 7374.6 8143.4 8083.3 7574.0 7552.1 7529.7 7769.7 36

 37 Corporate and foreign bonds 4653.8 5422.4 6261.4 5980.2 5735.6 5282.4 4972.6 4870.5 4718.3 37

 38 Depository institution loans n.e.c. 227.7 213.0 293.1 789.5 424.2 373.6 400.8 342.3 363.2 38

 39 Other loans and advances 620.2 641.4 867.1 900.5 617.9 473.2 413.1 416.6 494.9 39

 40 Mortgages 145.5 152.1 156.7 163.5 175.3 176.1 189.5 194.4 202.2 40

 41 Mutual fund shares 6045.6 7065.0 7822.6 5388.0 6920.7 7873.0 7870.9 9326.1 11544.8 41

 42 Trade payables 43.1 48.3 45.8 21.2 70.1 18.1 14.3 14.2 14.5 42

 43 Security credit 660.8 749.1 969.5 777.2 733.7 763.5 795.4 828.2 897.1 43

 44 Life insurance reserves 1039.9 1119.5 1156.1 1133.4 1194.5 1229.9 1302.3 1309.0 1366.3 44

 45 Pension entitlements 13466.3 14478.7 15262.2 14286.6 15455.1 17031.7 17444.7 18457.8 19886.1 45

 46 Taxes payable 41.6 55.9 32.4 -101.1 -95.0 -88.9 -78.0 -76.8 -59.1 46

 47 Foreign direct investment in U.S. 353.2 427.8 380.4 343.5 407.0 489.6 561.9 578.9 559.3 47

 48 Miscellaneous liabilities 5957.2 6400.4 6893.2 6927.5 7229.0 6769.2 6595.6 7121.7 7068.9 48

 Memo:

 49 Market value of corporate equities 4631.9 5408.0 4602.2 2875.4 3578.1 4295.4 4070.7 4931.3 6465.6 49

 50 Equity in noncorporate business 11.7 9.7 12.6 10.7 14.8 15.9 11.9 17.3 17.6 50

(1) Sum of financial sectors shown on tables L.108 through L.130.
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Historical Annuals, 2005-2013, September 18, 2014 71

L.108 Monetary Authority (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 878.7 908.2 951.3 2270.6 2267.2 2453.2 2947.2 2954.9 4073.8 1

 2 U.S. official reserve assets 29.9 31.4 34.2 35.7 36.2 37.0 36.8 35.8 34.6 2

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

 4 Treasury currency 36.5 38.2 38.7 38.7 42.7 43.5 44.2 44.8 45.5 4

 5 Federal Reserve float (2) 0.9 -0.3 -0.0 -1.5 -2.1 -1.4 -0.6 -0.5 -1.0 5

 6 Interbank loans (2) 0.1 0.1 48.6 559.7 96.6 0.2 0.2 0.1 0.1 6

 7 Discount window (3) 0.1 0.1 48.6 544.0 96.6 0.2 0.2 0.1 0.1 7

 8 AMLF (4) 0.0 0.0 0.0 15.7 0.0 0.0 0.0 0.0 0.0 8

 9 Security repurchase agreements 46.8 40.8 46.5 80.0 0.0 0.0 0.0 0.0 0.0 9

 10 Credit market instruments 744.2 778.9 740.6 986.0 1987.7 2259.2 2635.6 2670.1 3756.3 10

 11 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Treasury securities 744.2 778.9 740.6 475.9 776.6 1021.5 1663.4 1666.1 2208.8 12

 13 Treasury bills 271.3 277.0 227.8 18.4 18.4 18.4 18.4 0.0 0.0 13

 14 Other Treasury securities 472.9 501.9 512.8 457.5 758.2 1003.1 1645.0 1666.1 2208.8 14

 15 Agency- and GSE-backed securities 0.0 0.0 0.0 19.7 1068.3 1139.6 941.7 1003.4 1547.4 15

 16 Mortgage-backed securities 0.0 0.0 0.0 0.0 908.4 992.1 837.7 926.7 1490.2 16

 17 Other agency- and GSE-backed securities 0.0 0.0 0.0 19.7 159.9 147.5 104.0 76.8 57.2 17

 18 Depository institution loans n.e.c. 0.0 0.0 0.0 490.4 142.8 98.1 30.5 0.6 0.1 18

 19 Households (TALF) (5) 0.0 0.0 0.0 0.0 47.5 24.7 9.0 0.6 0.1 19

 20 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Brokers and dealers (6) 0.0 0.0 0.0 45.5 0.0 0.0 0.0 0.0 0.0 21

 22 Funding corporations (Maiden Lane) (7) 0.0 0.0 0.0 29.1 29.2 25.8 4.9 0.0 0.0 22

 23 Funding corporations (AIG) 0.0 0.0 0.0 38.9 22.2 20.0 0.0 0.0 0.0 23

 24 Funding corporations (Maiden Lane II) (8) 0.0 0.0 0.0 19.5 16.0 13.5 6.8 0.0 0.0 24

 25 Funding corporations (Maiden Lane III)(9) 0.0 0.0 0.0 24.4 18.5 14.1 9.8 0.0 0.0 25

 26 Funding corporations (CPFF) (10) 0.0 0.0 0.0 333.0 9.4 0.0 0.0 0.0 0.0 26

 27 Corporate equities (11) 0.0 0.0 0.0 0.0 25.1 26.4 0.0 0.0 0.0 27

 28 Miscellaneous assets 18.1 17.0 40.5 569.8 75.9 83.1 225.8 199.5 233.1 28

 29 Nonofficial foreign currencies (12) 0.0 0.0 24.0 553.7 10.3 0.1 99.8 8.9 0.3 29

 30 Other 18.1 17.0 16.5 16.1 65.6 83.0 126.0 190.6 232.8 30

 31 Total liabilities 865.7 892.9 932.8 2249.6 2241.6 2426.7 2920.3 2927.6 4046.3 31

 32 Depository institution reserves 19.0 18.7 20.8 860.0 977.0 968.1 1562.3 1491.0 2249.1 32

 33 Vault cash of depository institutions 50.1 51.7 55.0 57.7 54.9 52.7 60.8 71.1 73.6 33

 34 Checkable deposits and currency 750.8 774.3 792.1 1220.3 1102.7 1287.8 1165.7 1224.6 1364.1 34

 35 Due to federal government 4.8 5.0 16.4 365.7 191.9 340.9 85.9 92.9 162.6 35

 36 Treasury cash holdings 0.2 0.3 0.3 0.3 0.2 0.2 0.1 0.2 0.2 36

 37 Treasury general deposit account 4.6 4.7 16.1 106.1 186.6 140.8 85.7 92.7 162.4 37

 38 Treasury temporary supplementary financing account 0.0 0.0 0.0 259.3 5.0 200.0 0.0 0.0 0.0 38

 39 Due to rest of the world 0.1 0.1 0.1 1.4 2.4 3.4 0.2 6.5 8.0 39

 40 Due to government-sponsored enterprises 2.0 0.8 1.7 21.1 35.1 13.5 64.6 27.2 25.9 40

 41 Currency outside banks 743.9 768.5 773.9 832.2 873.3 930.0 1015.0 1098.1 1167.6 41

 42 Security repurchase agreements 30.5 29.6 44.0 88.4 77.7 59.7 99.9 107.2 315.9 42

 43 Miscellaneous liabilities 15.3 18.5 21.0 23.1 29.2 58.4 31.7 33.7 43.5 43

 44 Federal Reserve Bank stock 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 27.5 44

 45 Other 1.8 3.2 2.5 2.1 3.6 31.9 4.8 6.3 16.0 45

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table L.203.

(3) Federal Reserve loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the AMLF.

(7) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(8) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(9) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(10) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(11) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.
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72 Historical Annuals, 2005-2013, September 18, 2014

L.109 Private Depository Institutions (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 11154.7 12076.4 13220.3 14513.5 13618.6 13727.6 14590.7 14994.1 15927.8 1

 2 Vault cash 50.1 51.7 55.0 57.7 54.9 52.7 60.8 71.1 73.6 2

 3 Reserves at Federal Reserve 19.0 18.7 20.8 860.0 977.0 968.1 1562.3 1491.0 2249.1 3

 4 Federal funds and security repos 482.2 611.0 768.3 643.3 335.2 356.1 378.6 491.6 392.9 4

 5 Credit market instruments 9393.7 10145.1 10954.1 11348.8 10749.7 10968.9 11177.8 11605.9 11883.3 5

 6 Open market paper 0.8 1.0 0.4 15.7 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 116.0 112.3 122.7 101.9 196.6 299.6 252.9 339.5 304.4 7

 8 Agency- and GSE-backed securities 1357.1 1373.9 1258.2 1400.3 1579.9 1718.1 1851.7 1901.3 1943.8 8

 9 Municipal securities 166.6 191.4 204.0 224.4 227.8 257.1 303.9 371.9 427.0 9

 10 Corporate and foreign bonds 784.6 890.8 1123.7 1087.2 940.0 795.9 800.2 786.3 770.2 10

 11 Depository institution loans n.e.c. 1583.0 1770.1 2094.5 2304.0 1893.1 1903.1 2117.3 2322.2 2508.7 11

 12 Other loans and advances 4.0 0.4 0.5 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Mortgages 4336.9 4732.3 5018.6 5014.2 4768.9 4583.0 4436.2 4422.4 4392.1 13

 14 Consumer credit 1044.7 1072.8 1131.5 1201.2 1143.4 1412.0 1415.6 1462.3 1537.1 14

 15 Corporate equities 62.9 79.8 88.8 33.8 63.6 73.6 67.4 71.3 101.3 15

 16 Mutual fund shares 19.5 26.6 31.6 21.6 47.4 46.5 43.5 48.1 60.1 16

 17 Security credit 37.4 48.5 52.5 39.8 32.0 38.2 69.2 71.1 81.6 17

 18 Life insurance reserves 0.0 93.4 104.3 110.7 111.5 116.0 125.5 138.0 143.8 18

 19 U.S. direct investment abroad 104.9 95.9 150.3 201.5 261.7 280.1 272.5 283.9 285.3 19

 20 Miscellaneous assets 985.0 905.8 994.7 1196.2 985.5 827.4 833.2 721.9 656.9 20

 21 Total liabilities 11133.6 11998.6 13016.1 14237.5 13779.2 13946.6 14909.1 15513.4 16377.1 21

 22 Net interbank liabilities -23.1 -19.7 -75.2 834.6 183.5 47.8 266.0 121.7 472.7 22

 23 Checkable deposits 776.4 732.9 740.8 881.0 990.7 1072.0 1428.6 1629.2 1822.3 23

 24 Small time and savings deposits 4598.1 4945.1 5224.5 5749.3 6326.5 6624.9 7202.2 7803.9 8110.8 24

 25 Large time deposits 1892.4 2181.6 2521.9 2339.5 2105.9 1923.2 1750.0 1659.9 1762.0 25

 26 Federal funds and security repos 906.5 990.7 1025.3 861.3 727.3 734.0 706.9 674.9 577.9 26

 27 Credit market instruments 743.2 788.0 1024.0 1030.9 744.6 909.0 856.5 745.4 713.9 27

 28 Open market paper 4.1 0.9 0.8 0.5 0.6 113.0 120.6 87.5 59.7 28

 29 Corporate bonds 130.4 159.9 184.8 184.8 176.3 377.1 379.4 295.9 221.0 29

 30 Other loans and advances 608.7 627.2 838.4 845.6 567.6 418.9 356.4 362.0 433.2 30

 31 Taxes payable (net) 29.4 28.0 12.4 -73.6 -66.2 -59.6 -49.1 -47.6 -47.4 31

 32 Foreign direct investment in U.S. 130.2 135.4 94.2 71.7 107.7 120.0 176.6 181.8 181.4 32

 33 Miscellaneous liabilities 2080.5 2216.6 2448.1 2542.8 2659.1 2575.3 2571.3 2744.2 2783.5 33

 34 Investment by holding companies 989.7 1142.9 1256.9 1370.5 1599.5 1632.8 1709.0 1889.2 1937.3 34

 35 Investment by funding corporations 188.8 197.3 241.0 276.6 203.1 171.6 137.8 126.0 123.5 35

 36 Other 902.0 876.3 950.2 895.6 856.5 770.9 724.5 729.0 722.7 36

 Memo:

 37 Consumer leases not included above (2) 0.0 0.0 11.2 9.5 6.9 6.2 6.0 6.5 7.9 37

(1) U.S.-chartered depository institutions (L.110), foreign banking offices (L.111), banks in U.S.-affiliated areas (L.112), and credit unions (L.113).

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
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Historical Annuals, 2005-2013, September 18, 2014 73

L.110 U.S.-Chartered Depository Institutions

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 9516.6 10233.4 11103.4 12202.2 11505.4 11503.7 11849.9 12226.9 12802.7 1

 2 Vault cash 50.1 51.7 55.0 57.7 54.9 52.7 60.8 71.1 73.6 2

 3 Reserves at Federal Reserve 17.4 17.5 19.3 617.0 661.4 575.8 798.7 798.5 1252.9 3

 4 Federal funds and security repos 306.3 377.4 520.2 575.1 266.9 267.6 242.6 303.7 215.7 4

 5 Credit market instruments 8016.2 8633.9 9209.3 9459.7 9117.4 9356.2 9489.9 9866.3 10101.0 5

 6 Open market paper 0.0 0.0 0.0 15.7 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 76.5 74.4 80.1 56.4 124.5 217.5 173.9 243.2 217.1 7

 8 Agency- and GSE-backed securities 1185.0 1217.3 1106.3 1242.5 1417.4 1527.2 1634.1 1669.6 1717.3 8

 9 Residential mortgage pass-through securities 695.0 746.1 697.1 851.0 837.5 835.3 899.1 912.8 953.5 9

 10 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 3.6 3.3 8.2 21.7 30.3 10

 11 Residential CMOs and other structured MBS 183.0 179.9 174.1 193.9 264.0 393.4 473.8 454.6 431.0 11

 12 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 4.0 3.6 13.4 42.9 66.8 12

 13 Other 307.0 291.2 235.1 197.6 308.4 291.5 239.6 237.7 235.7 13

 14 Municipal securities 166.1 190.1 202.0 221.9 224.3 254.6 297.3 365.0 418.9 14

 15 Corporate and foreign bonds 492.8 564.0 715.5 652.4 668.2 550.5 553.0 544.0 559.2 15

 16 Priv. residential mortgage pass-through securities 31.6 43.7 54.7 29.0 16.2 6.5 3.5 18.7 28.7 16

 17 Priv. commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 17.8 11.4 8.9 9.3 8.0 17

 18 Priv. residential CMOs and other structured MBS 204.8 224.6 328.9 285.6 202.9 132.3 110.4 88.4 73.7 18

 19 Priv. commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 26.0 24.7 27.4 32.7 37.3 19

 20 Other 256.5 295.7 331.9 337.8 405.2 375.6 402.9 394.9 411.4 20

 21 Depository institution loans n.e.c. 1221.5 1335.7 1551.9 1690.7 1404.8 1425.9 1589.6 1797.1 1933.5 21

 22 Other loans and advances 3.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Mortgages 4054.9 4415.7 4658.6 4615.2 4371.9 4194.9 4049.6 4028.8 3983.5 23

 24 Consumer credit 816.1 836.7 894.9 965.0 906.3 1185.5 1192.6 1218.6 1271.6 24

 25 Corporate equities 62.9 79.8 88.8 33.8 63.6 73.6 67.4 71.3 101.3 25

 26 Mutual fund shares 17.4 24.5 29.6 19.6 46.1 45.0 41.7 45.8 57.9 26

 27 Security credit 21.8 27.9 25.9 23.7 20.4 23.6 35.8 45.0 52.9 27

 28 Life insurance reserves 0.0 93.4 104.3 110.7 111.5 116.0 125.5 138.0 143.8 28

 29 U.S. direct investment abroad 104.9 95.9 150.3 201.5 261.7 280.1 272.5 283.9 285.3 29

 30 Miscellaneous assets 919.7 831.4 900.7 1103.4 901.5 713.2 715.2 603.3 518.3 30

 31 Total liabilities 9388.9 10075.5 10932.9 12092.3 11622.9 11709.0 12156.0 12719.7 13295.4 31

 32 Net interbank liabilities 251.8 345.5 445.8 1130.1 633.7 428.3 164.9 36.7 227.8 32

 33 Federal Reserve float 0.9 -0.3 -0.0 -1.5 -2.1 -1.4 -0.6 -0.5 -1.0 33

 34 Borrowing from Federal Reserve banks 0.1 0.1 48.6 559.7 96.6 0.2 0.2 0.1 0.1 34

 35 To domestic banks -38.1 -45.5 -36.3 34.7 42.2 21.3 62.1 18.7 57.2 35

 36 To foreign banks 288.9 391.3 433.5 537.1 496.9 408.2 103.3 18.5 171.4 36

 37 Checkable deposits 672.7 637.1 639.6 777.5 871.6 941.1 1260.5 1431.7 1579.8 37

 38 Federal government 33.9 28.0 42.9 3.5 3.8 3.6 1.0 1.3 1.6 38

 39 Rest of the world 17.4 26.8 31.7 62.9 34.3 30.4 56.1 51.8 50.2 39

 40 Private domestic 621.5 582.3 564.9 711.1 833.5 907.0 1203.5 1378.5 1528.1 40

 41 Small time and savings deposits 4111.6 4418.3 4664.0 5144.6 5617.0 5888.6 6425.7 6979.2 7236.0 41

 42 Large time deposits 1225.0 1364.4 1429.6 1365.6 1029.9 896.1 882.9 803.0 826.9 42

 43 Federal funds and security repos 654.0 680.9 736.9 727.2 532.1 484.0 402.5 349.9 265.2 43

 44 Credit market instruments 727.8 768.6 991.2 990.3 718.1 882.9 832.4 720.3 686.9 44

 45 Open market paper 3.3 0.4 0.3 0.5 0.6 113.0 120.6 87.5 59.7 45

 46 Corporate bonds 130.4 159.9 184.8 184.8 176.3 377.1 379.4 295.9 221.0 46

 47 Other loans and advances 594.0 608.3 806.1 805.0 541.1 392.8 332.3 336.9 406.2 47

 48 Taxes payable (net) 29.4 28.0 12.4 -73.6 -66.2 -59.6 -49.1 -47.6 -47.4 48

 49 Miscellaneous liabilities 1716.6 1832.7 2013.3 2030.5 2286.8 2247.6 2236.1 2446.4 2520.4 49

 50 Investment by holding companies 989.7 1142.9 1256.9 1370.5 1599.5 1632.8 1709.0 1889.2 1937.3 50

 51 Other 726.9 689.8 756.4 660.0 687.3 614.7 527.1 557.2 583.1 51

 Memo:

 52 Consumer leases not included above (1) 0.0 0.0 11.2 9.5 6.9 6.2 6.0 6.5 7.9 52

(1) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
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74 Historical Annuals, 2005-2013, September 18, 2014

L.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 903.9 1076.5 1313.0 1469.2 1218.1 1268.3 1736.4 1720.6 2037.1 1

 2 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Reserves at Federal Reserve 0.9 0.6 1.0 239.0 284.1 350.8 711.0 638.8 948.0 3

 4 Federal funds and security repos 169.2 228.4 245.6 68.1 68.2 88.4 120.1 178.3 177.1 4

 5 Credit market instruments 684.1 789.3 994.0 1097.1 809.7 785.2 827.7 833.5 826.3 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 27.8 26.8 30.4 35.5 57.5 60.9 60.5 76.6 67.0 7

 8 Agency- and GSE-backed securities 50.9 55.1 57.1 50.6 31.3 26.5 30.6 32.1 25.4 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate and foreign bonds 267.5 295.8 373.1 405.4 247.6 238.2 236.7 230.5 196.4 10

 11 Depository institution loans n.e.c. 316.2 386.3 493.9 561.5 435.5 424.2 467.1 463.4 507.2 11

 12 Other loans and advances 0.8 0.4 0.5 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Mortgages 20.8 24.9 39.0 44.2 37.8 35.4 32.8 30.9 30.3 13

 14 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 14

 15 Security credit 15.5 20.6 26.5 16.1 11.6 14.7 33.5 26.2 28.7 15

 16 Miscellaneous assets 34.2 37.5 45.9 48.9 44.5 29.2 44.2 43.9 57.0 16

 17 Total liabilities 1078.0 1233.0 1360.4 1375.7 1319.1 1351.5 1851.1 1853.0 2094.2 17

 18 Net interbank liabilities -212.5 -301.5 -458.6 -225.6 -377.8 -347.1 157.5 155.6 313.1 18

 19 To foreign banks -252.2 -349.3 -501.0 -249.3 -411.0 -384.0 134.8 83.6 225.3 19

 20 To domestic banks 39.7 47.8 42.4 23.6 33.1 36.9 22.7 72.0 87.8 20

 21 Checkable deposits 9.3 9.3 11.8 13.5 16.1 21.9 45.6 61.8 92.6 21

 22 Small time and savings deposits 10.0 18.6 25.5 25.6 29.9 35.7 48.9 62.7 90.4 22

 23 Large time deposits 580.9 727.0 996.2 876.2 1024.2 977.7 814.6 798.4 869.5 23

 24 Federal funds and security repos 252.5 309.8 288.4 131.7 195.2 250.0 304.4 325.0 312.7 24

 25 Open market paper (2) 0.8 0.5 0.5 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Foreign direct investment in U.S. 130.2 135.4 94.2 71.7 107.7 120.0 176.6 181.8 181.4 26

 27 Miscellaneous liabilities 306.8 334.0 402.5 482.7 323.8 293.3 303.4 267.8 234.6 27

 28 Investment by funding corporations 188.8 197.3 241.0 276.6 203.1 171.6 137.8 126.0 123.5 28

 29 Other 118.0 136.6 161.5 206.0 120.7 121.7 165.6 141.7 111.1 29

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.
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Historical Annuals, 2005-2013, September 18, 2014 75

L.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 106.3 105.2 104.9 102.0 94.7 79.9 75.8 75.8 84.7 1

 2 Credit market instruments 101.0 99.3 92.8 90.9 88.1 68.9 64.0 63.9 64.1 2

 3 Treasury securities 3.9 3.7 1.8 1.2 0.5 1.1 1.0 0.4 1.2 3

 4 Agency- and GSE-backed securities 34.8 29.0 26.3 24.4 20.5 12.8 4.8 2.6 1.9 4

 5 Municipal securities 0.5 1.3 2.0 2.5 3.5 2.5 3.4 2.6 3.6 5

 6 Corporate and foreign bonds 0.8 0.4 0.5 0.5 2.0 0.6 4.2 5.2 5.8 6

 7 Depository institution loans n.e.c. 25.9 25.6 21.4 19.7 19.4 16.1 17.1 18.1 19.4 7

 8 Home mortgages 16.3 17.2 21.5 22.9 22.6 20.1 17.8 20.0 18.9 8

 9 Commercial mortgages 18.8 22.0 19.3 19.7 19.6 15.7 15.6 14.9 13.5 9

 10 Miscellaneous assets 5.3 5.9 12.1 11.1 6.5 11.0 11.8 12.0 20.5 10

 11 Total liabilities 103.4 102.1 94.4 91.0 90.0 75.2 72.1 72.0 80.5 11

 12 Net interbank liabilities -3.0 -2.9 -2.6 -3.2 -4.2 -3.3 -4.6 -4.9 -4.7 12

 13 Checkable deposits 13.3 14.0 15.7 14.6 16.1 16.6 19.4 21.9 28.2 13

 14 Small time and savings deposits 23.9 25.2 26.3 27.4 24.5 19.3 18.9 18.8 21.4 14

 15 Large time deposits 23.9 25.2 26.3 27.4 24.5 19.3 18.9 18.8 21.4 15

 16 Miscellaneous liabilities 45.2 40.7 28.8 24.9 29.2 23.3 19.4 17.3 14.3 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 628.0 661.3 699.0 740.1 800.5 875.7 928.5 970.8 1003.3 1

 2 Reserves at Federal Reserve 0.7 0.6 0.5 4.0 31.5 41.5 52.6 53.8 48.1 2

 3 Federal funds and security repos 6.7 5.1 2.5 0.1 0.1 0.0 15.9 9.7 0.1 3

 4 Credit market instruments 592.5 622.6 657.9 701.1 734.6 758.6 796.2 842.3 891.8 4

 5 Open market paper 0.8 1.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury securities 7.7 7.4 10.4 8.8 14.2 20.1 17.6 19.3 19.1 6

 7 Agency- and GSE-backed securities 86.4 72.5 68.4 82.9 110.7 151.5 182.1 197.0 199.2 7

 8 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 3.2 4.2 4.6 8

 9 Corporate and foreign bonds 23.5 30.6 34.6 28.9 22.3 6.6 6.3 6.7 8.9 9

 10 Depository institution loans n.e.c. 19.5 22.5 27.3 32.1 33.4 36.9 43.5 43.6 48.7 10

 11 Home mortgages 226.1 252.5 280.2 312.2 316.9 317.0 320.5 327.8 345.9 11

 12 Consumer credit 228.6 236.1 236.6 236.2 237.1 226.5 223.0 243.6 265.6 12

 13 Mutual fund shares 2.2 2.1 2.1 2.0 1.3 1.5 1.9 2.3 2.2 13

 14 Miscellaneous assets 25.8 30.9 36.0 32.8 33.0 74.1 61.9 62.7 61.1 14

 15 Total liabilities 563.4 587.9 628.4 678.5 747.2 810.9 830.0 868.7 906.9 15

 16 Net interbank liabilities -59.3 -60.8 -59.8 -66.6 -68.1 -30.0 -51.9 -65.7 -63.5 16

 17 Shares/deposits 596.1 620.6 652.3 697.4 769.4 803.8 845.3 896.6 929.2 17

 18 Checkable 81.1 72.6 73.7 75.3 86.9 92.4 103.1 113.9 121.7 18

 19 Small time and savings 452.5 483.0 508.7 551.7 655.2 681.3 708.7 743.1 763.1 19

 20 Large time 62.5 65.0 69.9 70.4 27.3 30.1 33.5 39.7 44.3 20

 21 Federal funds and security repos 0.0 0.0 0.0 2.4 0.0 0.0 0.0 0.0 0.0 21

 22 Other loans and advances 14.7 18.9 32.3 40.6 26.5 26.1 24.2 25.1 27.0 22

 23 Miscellaneous liabilities 11.9 9.2 3.6 4.7 19.4 11.1 12.4 12.7 14.2 23
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76 Historical Annuals, 2005-2013, September 18, 2014

L.114 Property-Casualty Insurance Companies

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 1246.3 1335.8 1385.8 1305.5 1380.2 1360.5 1380.0 1442.3 1533.7 1

 2 Checkable deposits and currency 21.0 29.9 42.7 27.9 27.6 32.6 24.1 36.4 29.7 2

 3 Money market fund shares 12.8 13.5 20.7 32.8 29.6 25.6 20.0 22.3 20.0 3

 4 Security repurchase agreements 2.7 1.9 3.6 4.4 4.5 3.8 1.7 1.8 1.8 4

 5 Credit market instruments 819.3 864.1 869.3 853.4 886.7 890.6 926.8 927.8 953.1 5

 6 Open market paper 15.8 16.4 13.3 19.1 9.8 7.9 8.8 7.4 8.0 6

 7 Treasury securities 106.9 110.0 71.3 65.6 88.5 91.7 96.4 89.7 95.7 7

 8 Agency- and GSE-backed securities 117.9 122.0 125.8 114.3 116.2 115.8 122.7 114.3 108.7 8

 9 Municipal securities 313.2 335.2 371.3 381.9 369.4 348.4 331.0 328.1 325.8 9

 10 Corporate and foreign bonds 262.8 277.0 282.9 267.5 298.3 322.6 363.1 382.7 406.9 10

 11 Commercial mortgages 2.7 3.5 4.8 5.0 4.4 4.1 4.9 5.6 7.9 11

 12 Corporate equities 198.1 221.0 231.3 190.1 215.6 214.8 220.8 252.2 309.7 12

 13 Mutual fund shares 7.2 13.0 11.7 7.6 9.5 10.2 9.1 11.8 15.5 13

 14 Trade receivables 82.1 87.0 85.4 86.7 83.0 83.8 87.2 92.0 95.2 14

 15 U.S. direct investment abroad 103.3 105.5 121.1 102.6 123.7 99.1 90.2 98.0 108.8 15

 16 Total liabilities 759.0 826.3 818.6 792.3 804.3 823.2 856.1 880.5 898.2 16

 17 Security repurchase agreements 1.3 1.2 0.5 2.4 0.6 1.5 0.4 0.8 2.2 17

 18 Taxes payable (net) -1.6 9.4 7.0 -21.1 -15.8 -10.1 -14.5 -10.8 8.4 18

 19 Foreign direct investment in U.S. 60.1 99.9 76.6 51.2 64.7 70.7 73.9 77.1 74.5 19

 20 Miscellaneous liabilities 699.2 715.8 734.5 759.9 754.8 761.2 796.4 813.4 813.1 20

 21 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.2 5.2 21

 22 Policy payables 699.2 715.8 734.5 759.9 754.8 761.2 796.4 802.1 807.8 22
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Historical Annuals, 2005-2013, September 18, 2014 77

L.115 Life Insurance Companies (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 4350.7 4685.3 4949.7 4514.4 4823.9 5167.8 5340.1 5614.7 5977.3 1

 2 Checkable deposits and currency 47.7 56.1 58.3 82.8 50.7 51.7 53.7 56.4 47.2 2

 3 Money market fund shares 13.5 23.3 21.6 39.2 33.7 21.0 28.8 27.5 21.6 3

 4 Security repurchase agreements 2.6 2.6 2.7 8.0 10.2 10.9 10.1 8.5 8.5 4

 5 Credit market instruments 2753.9 2786.4 2871.2 2882.8 3022.6 3174.2 3299.6 3373.9 3451.3 5

 6 Open market paper 24.4 28.7 41.7 38.3 49.8 40.9 29.7 43.6 46.7 6

 7 Treasury securities 95.4 87.9 70.6 105.7 133.5 156.6 175.4 180.9 168.6 7

 8 Agency- and GSE-backed securities 368.5 377.4 382.9 366.2 371.9 376.0 374.4 360.9 354.1 8

 9 Municipal securities 32.5 36.6 41.4 47.1 73.1 112.3 121.8 131.5 141.6 9

 10 Corporate and foreign bonds 1824.8 1819.5 1862.6 1817.0 1927.2 2030.2 2117.3 2162.2 2223.0 10

 11 Other loans and advances 122.8 132.6 145.8 166.1 140.9 140.7 148.6 150.4 153.9 11

 12 Mortgages 285.5 303.8 326.2 342.4 326.1 317.5 332.5 344.4 363.2 12

 13 Corporate equities 1161.8 1364.8 1464.6 1001.7 1208.5 1402.6 1390.2 1545.1 1794.4 13

 14 Mutual fund shares 109.0 148.8 188.4 121.0 140.8 155.7 150.1 159.3 184.8 14

 15 U.S. direct investment abroad 19.1 20.0 25.6 25.0 28.9 46.3 54.2 67.0 65.5 15

 16 Miscellaneous assets 243.0 283.4 317.3 354.0 328.7 305.6 353.4 377.0 404.1 16

 17 Equity in FHLB 1.6 1.6 2.2 3.2 2.9 2.9 2.1 2.2 3.2 17

 18 Deferred and unpaid life ins. premiums 22.4 22.8 23.9 27.0 22.1 24.7 24.3 24.9 27.9 18

 19 Other 219.0 258.9 291.2 323.8 303.7 278.0 327.0 349.9 373.1 19

 20 Total liabilities 4088.4 4412.0 4661.7 4265.0 4532.3 4844.3 5002.2 5248.8 5602.8 20

 21 Security repurchase agreements 20.9 21.2 20.2 12.9 12.4 10.3 10.4 13.5 12.7 21

 22 Other loans and advances 11.5 14.2 28.7 54.9 48.3 45.1 46.8 51.6 59.4 22

 23 Life insurance reserves 1039.9 1119.5 1156.1 1133.4 1194.5 1229.9 1302.3 1309.0 1366.3 23

 24 Pension entitlements (2) 2004.9 2174.5 2296.8 2054.7 2148.2 2343.2 2384.6 2576.6 2816.9 24

 25 Taxes payable (net) -5.3 -1.3 -4.7 -24.4 -31.4 -28.8 -23.6 -28.3 -30.5 25

 26 Foreign direct investment in U.S. 65.8 71.3 68.7 60.3 69.4 84.3 103.6 106.0 97.7 26

 27 Miscellaneous liabilities 950.7 1012.6 1095.9 973.1 1090.8 1160.4 1178.1 1220.3 1280.4 27

 28 Investment by parent companies 35.6 38.3 43.7 31.2 40.5 62.7 72.0 17.2 10.7 28

 29 Other reserves (3) 217.3 232.1 247.6 265.2 273.6 290.7 305.5 303.7 304.2 29

 30 Unallocated insurance contracts 530.9 545.9 585.3 447.4 587.6 619.0 623.3 637.3 682.5 30

 31 Other 166.9 196.3 219.3 229.3 189.1 187.9 177.2 262.1 283.1 31

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables L.115.g and L.115.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 30.

(3) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
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78 Historical Annuals, 2005-2013, September 18, 2014

L.116 Private and Public Pension Funds (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets (2) 11368.2 12180.5 12820.0 12102.5 13165.8 14545.4 14912.9 15719.6 16891.5 1

 2 Checkable deposits and currency 17.0 20.9 22.6 17.1 14.0 16.6 22.6 21.2 22.0 2

 3 Time and savings deposits 77.4 54.4 61.7 58.4 62.3 67.0 71.1 66.5 74.2 3

 4 Money market fund shares 123.3 192.7 200.5 200.8 187.9 179.9 195.5 174.8 185.9 4

 5 Security repurchase agreements 29.1 6.6 7.0 5.9 5.9 6.0 6.1 5.7 6.3 5

 6 Credit market instruments 1502.8 1660.6 1748.3 1745.4 1679.3 1833.2 1946.7 2116.7 2238.8 6

 7 Open market paper 61.3 79.2 84.2 78.7 79.6 82.1 86.6 80.4 85.9 7

 8 Treasury securities 340.3 371.7 376.1 392.5 457.5 509.5 571.5 647.1 708.9 8

 9 Agency- and GSE-backed securities 444.5 388.5 390.5 361.8 351.5 359.4 376.8 421.3 448.4 9

 10 Corporate and foreign bonds 631.3 771.7 843.8 869.8 753.2 841.4 876.5 932.7 966.2 10

 11 Mortgages 23.5 47.9 52.1 41.2 36.0 38.4 33.7 34.3 28.3 11

 12 Corporate equities 4228.9 4154.9 4366.1 2779.9 3436.8 3920.7 3736.6 4181.2 5082.2 12

 13 Mutual fund shares 2045.0 2369.3 2531.0 1695.8 2226.0 2514.3 2410.9 2658.6 3294.9 13

 14 Miscellaneous assets 3344.9 3721.1 3883.0 5599.1 5553.7 6007.7 6523.4 6494.9 5987.3 14

 15 Unallocated insurance contracts (3) 530.9 545.9 585.3 447.4 587.6 619.0 623.3 637.3 682.5 15

 16 Contributions receivable 44.8 64.7 69.3 84.0 75.4 90.8 93.8 81.4 80.9 16

 17 Nonmarketable Treasury securities (4) 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 17

 18 Claims of pension fund on sponsor (5) 1706.7 1625.6 1674.9 3468.2 3212.0 3523.7 3916.2 3812.0 3127.6 18

 19 Other 179.6 566.1 601.5 584.2 601.4 631.3 676.4 710.0 744.1 19

 20 Pension entitlements (liabilities) (6) 11461.4 12304.2 12965.4 12231.9 13306.9 14688.5 15060.1 15881.2 17069.2 20

 Memo:

 Funded status of defined benefit plans:

 21 Pension entitlements 7762.2 8221.9 8612.3 8976.1 9315.4 10175.7 10568.6 10886.7 11129.6 21

 22 Funded by assets (7) 6055.5 6596.3 6937.4 5507.9 6103.4 6652.0 6652.4 7074.7 8002.0 22

 23 Unfunded (line 18) 1706.7 1625.6 1674.9 3468.2 3212.0 3523.7 3916.2 3812.0 3127.6 23

 24 Household retirement assets (8) 16417.0 18156.0 19434.8 17463.2 19404.0 21481.6 21858.5 23384.2 25713.4 24

 25 Defined benefit plans 7669.1 8098.2 8466.9 8846.7 9174.4 10032.7 10421.4 10725.0 10951.9 25

 26 Defined contribution plans 3699.2 4082.3 4353.1 3255.8 3991.5 4512.7 4491.5 4994.5 5939.6 26

 27 Individual retirement plans (IRAs) (9) 3425.0 4207.0 4748.0 3681.0 4488.0 5029.0 5001.0 5561.0 6521.0 27

 28 Annuities at life insurance companies (10) 1623.8 1768.5 1866.8 1679.7 1750.2 1907.2 1944.6 2103.6 2300.9 28

(1) Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(4) 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.

(5) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(8) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(9) IRA assets are not included above. See table L.226.i for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs at life insurance companies are excluded. They are included in line 27.
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Historical Annuals, 2005-2013, September 18, 2014 79

L.117 Private Pension Funds (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets (2) 5396.7 5812.1 6154.6 5297.9 5965.8 6613.5 6716.8 7241.5 8105.3 1

 2 Checkable deposits and currency 10.7 17.4 18.7 13.1 10.3 12.5 18.1 16.4 16.5 2

 3 Time and savings deposits 61.5 29.9 33.6 29.1 32.1 31.4 33.0 29.1 28.8 3

 4 Money market fund shares 86.7 144.2 151.1 156.2 146.6 136.4 152.9 135.7 137.9 4

 5 Security repurchase agreements 22.1 3.5 3.7 2.8 2.9 2.7 2.7 2.4 2.3 5

 6 Credit market instruments 686.5 741.9 773.0 766.0 775.5 896.1 969.7 1116.4 1166.1 6

 7 Open market paper 26.5 43.2 46.6 40.5 42.2 40.2 42.6 37.8 34.4 7

 8 Treasury securities 113.8 137.3 137.8 142.9 175.7 206.9 233.9 278.3 314.4 8

 9 Agency- and GSE-backed securities 248.4 182.1 185.8 184.0 177.5 184.0 188.3 210.4 225.6 9

 10 Corporate and foreign bonds 287.9 347.3 368.6 372.4 356.4 438.5 483.0 566.9 572.1 10

 11 Mortgages 9.8 31.9 34.2 26.1 23.7 26.5 21.9 23.1 19.7 11

 12 Corporate equities 2359.9 2058.2 2126.3 1324.3 1569.0 1849.9 1751.8 1974.3 2404.7 12

 13 Mutual fund shares 1649.1 1919.1 2077.3 1417.9 1886.9 2147.9 2119.7 2384.7 2969.0 13

 14 Miscellaneous assets 520.3 898.1 971.0 1588.5 1542.4 1536.6 1668.9 1582.5 1379.9 14

 15 Unallocated insurance contracts (3) 407.3 406.9 434.9 339.2 453.7 469.4 484.6 503.8 540.3 15

 16 Contributions receivable 44.8 64.7 69.3 84.0 75.4 90.8 93.8 81.4 80.9 16

 17 Claims of pension fund on sponsor (4) -30.1 -28.8 -20.8 677.4 497.6 446.5 517.2 389.8 131.4 17

 18 Other 98.3 455.3 487.5 487.9 515.7 529.9 573.3 607.4 627.3 18

 19 Pension entitlements (liabilities) (5) 5435.9 5849.7 6188.8 5333.2 6002.2 6650.1 6753.3 7278.0 8141.8 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 2290.4 2402.0 2529.1 2608.2 2662.7 2872.2 2983.7 3054.3 3105.0 20

 21 Funded by assets (6) 2320.5 2430.9 2549.9 1930.8 2165.1 2425.7 2466.4 2664.5 2973.6 21

 22 Unfunded (line 17) -30.1 -28.8 -20.8 677.4 497.6 446.5 517.2 389.8 131.4 22

 Total financial assets (7)

 23 Defined benefit plans 2251.2 2364.3 2494.9 2572.9 2626.3 2835.7 2947.1 3017.8 3068.5 23

 24 Defined contribution plans 3145.5 3447.7 3659.7 2725.0 3339.5 3777.8 3769.7 4223.7 5036.8 24

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on tables L.117.b and L.117.c.
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80 Historical Annuals, 2005-2013, September 18, 2014

L.118 State and Local Government Employee Retirement Funds

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets (1) 3476.7 3758.9 3951.4 4046.3 4277.6 4772.6 4930.1 5093.2 5243.5 1

 2 Checkable deposits and currency 6.3 3.5 3.9 4.0 3.6 4.2 4.5 4.8 5.5 2

 3 Time and savings deposits 15.8 24.5 28.0 29.3 30.2 35.6 38.0 37.4 45.4 3

 4 Money market fund shares 36.6 48.6 49.4 44.6 41.2 43.5 42.6 39.1 48.0 4

 5 Security repurchase agreements 7.0 3.1 3.3 3.1 3.0 3.4 3.4 3.3 3.9 5

 6 Credit market instruments 738.1 831.8 875.8 855.9 772.9 795.3 809.7 817.7 880.6 6

 7 Open market paper 34.8 36.0 37.5 38.2 37.4 41.9 44.0 42.6 51.5 7

 8 Treasury securities 158.5 157.9 150.5 137.1 161.8 172.5 184.1 203.2 216.5 8

 9 Agency- and GSE-backed securities 190.3 200.8 199.3 172.6 168.7 169.6 182.0 202.9 216.4 9

 10 Municipal securities 1.7 1.6 1.5 1.4 1.5 2.3 1.6 0.9 1.2 10

 11 Corporate and foreign bonds 339.0 419.6 468.9 491.6 391.1 397.0 386.1 356.8 386.4 11

 12 Mortgages 13.7 15.9 17.9 15.1 12.3 11.9 11.9 11.2 8.6 12

 13 Corporate equities 1758.1 1961.2 2094.1 1371.9 1751.0 1929.9 1850.5 2058.7 2471.3 13

 14 Mutual fund shares 395.9 450.2 453.6 277.9 339.1 366.3 291.2 273.9 325.9 14

 15 Miscellaneous assets 518.9 436.0 443.3 1459.5 1336.5 1594.4 1890.1 1858.3 1462.9 15

 16 Unallocated insurance contracts (2) 123.6 139.0 150.4 108.3 133.9 149.6 138.7 133.5 142.2 16

 17 Claims of pension fund on sponsor (3) 314.0 186.2 178.9 1254.9 1116.9 1343.4 1648.3 1622.2 1204.1 17

 18 Other 81.3 110.8 114.0 96.3 85.7 101.4 103.1 102.6 116.7 18

 19 Pension entitlements (liabilities) (4) 3530.8 3844.9 4062.6 4140.4 4382.3 4879.1 5040.8 5218.3 5384.6 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 3140.9 3406.5 3588.5 3799.0 3959.8 4408.7 4604.1 4762.4 4862.9 20

 21 Funded by assets (5) 2826.9 3220.3 3409.6 2544.0 2842.9 3065.3 2955.8 3140.2 3658.8 21

 22 Unfunded (line 17) 314.0 186.2 178.9 1254.9 1116.9 1343.4 1648.3 1622.2 1204.1 22

 Total financial assets (6)

 23 Defined benefit plans 3086.9 3320.4 3477.3 3704.9 3855.2 4302.2 4493.4 4637.3 4721.7 23

 24 Defined contribution plans 389.8 438.5 474.2 341.4 422.4 470.4 436.7 455.9 521.7 24

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables L.118.b and L.118.c.

L.119 Federal Government Employee Retirement Funds

Billions of dollars

 1 Total financial assets (1) 2494.7 2609.5 2714.0 2758.3 2922.5 3159.3 3266.0 3384.9 3542.8 1

 2 Credit market instruments 78.2 86.9 99.5 123.5 130.9 141.8 167.3 182.7 192.1 2

 3 Treasury securities (2) 68.0 76.6 87.8 112.5 119.9 130.0 153.5 165.6 178.0 3

 4 Agency- and GSE-backed securities 5.8 5.6 5.4 5.2 5.2 5.8 6.5 8.1 6.4 4

 5 Corporate and foreign bonds 4.4 4.8 6.3 5.8 5.7 5.9 7.3 9.0 7.7 5

 6 Corporate equities 110.9 135.6 145.7 83.7 116.8 140.9 134.4 148.1 206.2 6

 7 Miscellaneous assets 2305.7 2387.0 2468.7 2551.1 2674.8 2876.6 2964.3 3054.1 3144.5 7

 8 Nonmarketable Treasury securities (3) 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 8

 9 Claims of pension fund on sponsor (4) 1422.8 1468.3 1516.8 1535.8 1597.6 1733.7 1750.7 1800.0 1792.1 9

 10 Pension entitlements (liabilities) (5) 2494.7 2609.5 2714.0 2758.3 2922.5 3159.3 3266.0 3384.9 3542.8 10

 Memo:

 Funded status of defined benefit plans:

 11 Pension entitlements 2330.9 2413.5 2494.7 2568.9 2692.9 2894.8 2980.8 3070.0 3161.7 11

 12 Funded by assets (6) 908.1 945.1 977.9 1033.1 1095.4 1161.1 1230.2 1270.0 1369.6 12

 13 Unfunded (line 9) 1422.8 1468.3 1516.8 1535.8 1597.6 1733.7 1750.7 1800.0 1792.1 13

 Total financial assets (7)

 14 Defined benefit plans 2330.9 2413.5 2494.7 2568.9 2692.9 2894.8 2980.8 3070.0 3161.7 14

 15 Defined contribution plans 163.8 196.1 219.3 189.4 229.6 264.5 285.2 314.9 381.0 15

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes nonmarketable Treasury securities held by the Thrift Savings Plan.

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(6) Total defined benefit financial assets less defined benefit claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on tables L.119.b and L.119.c.
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Historical Annuals, 2005-2013, September 18, 2014 81

L.120 Money Market Mutual Funds (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 1993.1 2296.3 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2678.3 1

 2 Foreign deposits 75.8 65.8 100.2 85.6 97.1 105.9 42.9 43.3 33.7 2

 3 Checkable deposits and currency -0.9 6.6 1.9 7.5 17.9 14.2 20.1 16.5 13.3 3

 4 Time and savings deposits 191.3 219.3 294.0 396.8 566.6 458.9 402.7 435.4 494.8 4

 5 Security repurchase agreements 345.6 394.8 605.9 542.4 480.0 479.4 490.5 544.7 493.0 5

 6 Credit market instruments 1348.6 1570.2 1962.0 2689.9 2070.0 1673.4 1663.6 1580.9 1611.8 6

 7 Open market paper 489.4 600.8 674.6 618.5 510.5 394.2 354.2 340.8 352.1 7

 8 Treasury securities 88.6 82.6 178.2 577.7 406.4 335.4 443.3 457.8 488.2 8

 9 Agency- and GSE-backed securities 162.0 133.9 235.9 756.2 543.0 402.8 403.7 343.5 361.1 9

 10 Municipal securities 349.1 392.0 496.6 509.5 440.1 386.7 357.3 336.7 308.3 10

 11 Corporate and foreign bonds 259.5 360.9 376.8 228.0 169.9 154.2 105.1 102.1 102.1 11

 12 Miscellaneous assets 32.8 39.6 69.0 35.2 26.9 23.5 22.7 28.8 31.7 12

 13 Total shares outstanding (liabilities) 1993.1 2296.3 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2678.3 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.121 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 6045.6 7065.0 7822.6 5388.0 6920.7 7873.0 7870.9 9326.1 11544.8 1

 2 Security repurchase agreements 115.4 132.8 132.2 124.7 153.3 137.5 108.7 262.8 355.7 2

 3 Credit market instruments 1743.8 1928.7 2196.7 2229.2 2616.3 2969.9 3329.3 3981.3 4345.2 3

 4 Open market paper 97.1 114.5 114.1 51.6 80.2 66.3 40.0 77.5 105.2 4

 5 Treasury securities 161.9 162.6 165.5 184.0 258.0 379.2 453.8 574.4 627.0 5

 6 Agency- and GSE-backed securities 477.1 497.1 576.6 553.3 603.2 681.3 787.5 877.0 855.4 6

 7 Municipal securities 311.2 343.9 371.6 389.4 478.8 525.5 541.2 627.4 613.9 7

 8 Corporate and foreign bonds 660.1 764.4 886.5 956.2 1120.7 1243.0 1413.4 1719.4 1998.8 8

 9 Other loans and advances 36.5 46.3 82.4 94.8 75.4 74.6 93.5 105.7 145.1 9

 10 Corporate equities 4175.7 4989.6 5476.9 3014.1 4136.2 4762.7 4427.2 5109.4 6852.2 10

 11 Miscellaneous assets 10.7 14.0 16.8 20.0 14.9 2.9 5.7 -27.4 -8.3 11

 12 Total shares outstanding (liabilities) 6045.6 7065.0 7822.6 5388.0 6920.7 7873.0 7870.9 9326.1 11544.8 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.122 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Total financial assets 270.3 293.2 316.3 202.9 228.6 243.1 240.5 256.5 284.6 1

 2 Credit market instruments 165.4 171.5 171.2 130.6 141.1 146.4 144.7 155.9 170.1 2

 3 Treasury securities 7.1 7.3 5.6 3.2 4.4 5.1 4.8 5.2 5.7 3

 4 Municipal securities 89.3 89.3 91.2 77.9 81.2 81.6 82.5 85.9 84.2 4

 5 Corporate and foreign bonds 69.0 74.8 74.3 49.5 55.6 59.7 57.3 64.8 80.2 5

 6 Corporate equities 104.9 121.7 145.2 72.3 87.4 96.7 95.9 100.6 114.5 6

 7 Total shares outstanding (liabilities) 270.3 293.2 316.3 202.9 228.6 243.1 240.5 256.5 284.6 7

 Exchange-traded funds

 8 Total financial assets 300.8 422.8 607.8 531.1 773.1 986.8 1042.6 1324.4 1670.6 8

 9 Credit market instruments 15.0 20.7 34.1 57.1 103.0 132.7 178.8 231.1 243.3 9

 10 Treasury securities 9.7 13.1 19.7 27.1 41.8 51.0 62.4 63.6 57.1 10

 11 Municipal securities 0.0 0.0 0.6 2.3 5.9 7.6 8.6 12.3 11.4 11

 12 Corporate and foreign bonds 5.3 7.6 13.8 27.7 55.4 74.1 107.7 155.3 174.8 12

 13 Corporate equities 285.8 402.0 573.7 474.0 670.0 854.1 863.8 1093.3 1427.3 13

 14 Total shares outstanding (liabilities) 300.8 422.8 607.8 531.1 773.1 986.8 1042.6 1324.4 1670.6 14
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82 Historical Annuals, 2005-2013, September 18, 2014

L.123 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 2822.0 2875.1 3175.7 3409.2 3048.5 6722.4 6480.2 6275.1 6361.3 1

 2 Checkable deposits and currency 14.6 16.4 13.7 88.3 99.4 63.4 72.7 52.6 81.6 2

 3 Time and savings deposits 35.3 33.9 46.6 68.5 25.7 26.1 13.4 4.3 5.4 3

 4 Federal funds and security repos 110.3 119.6 144.1 115.8 123.3 151.2 112.3 150.8 152.3 4

 5 Credit market instruments 2543.9 2590.5 2829.5 3037.5 2699.7 6333.1 6133.4 5914.8 5956.4 5

 6 Open market paper 13.8 32.4 27.7 6.8 9.7 9.9 6.5 3.4 4.4 6

 7 Treasury securities 13.1 14.2 15.5 16.8 36.6 82.6 100.2 69.0 59.1 7

 8 Agency- and GSE-backed securities 751.1 714.0 702.9 910.0 924.5 377.0 358.9 310.6 287.9 8

 9 Municipal securities 39.7 36.1 33.3 31.3 29.1 24.9 21.0 17.0 13.4 9

 10 Corporate and foreign bonds 465.7 481.7 464.4 386.6 296.0 266.5 235.7 185.7 126.3 10

 11 Other loans and advances 671.8 704.9 942.6 980.7 695.9 551.3 487.0 505.7 587.5 11

 12 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Farm Credit System 51.6 63.5 75.5 80.3 80.0 87.3 83.8 92.1 95.0 13

 14 FHLB 620.2 641.4 867.1 900.5 615.9 464.0 403.3 413.6 492.6 14

 15 Mortgages 588.8 607.2 643.1 705.3 707.7 5021.0 4924.0 4823.5 4877.8 15

 16 Home 453.9 457.6 447.9 456.6 433.4 4690.7 4587.7 4476.1 4550.6 16

 17 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 4141.0 4032.1 3958.0 4087.7 17

 18 Other 453.9 457.6 447.9 456.6 433.4 549.7 555.6 518.0 462.9 18

 19 Multifamily residential 93.0 105.4 147.7 190.2 204.4 256.5 259.2 265.5 243.5 19

 20 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 75.4 99.9 127.4 146.3 20

 21 Other 93.0 105.4 147.7 190.2 204.4 181.1 159.4 138.1 97.2 21

 22 Farm 42.0 44.2 47.6 58.5 69.9 73.8 77.1 82.0 83.6 22

 23 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous assets 117.8 114.7 141.7 99.1 100.3 148.6 148.5 152.6 165.6 24

 25 Total liabilities 2734.0 2781.2 3081.3 3390.2 2977.0 6615.1 6377.9 6216.8 6314.9 25

 26 Federal funds and security repos 3.3 2.9 2.3 1.3 1.2 1.3 0.4 0.0 0.0 26

 27 Credit market instruments 2592.2 2627.8 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 27

 28 GSE issues (4) 2592.2 2627.8 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 28

 29 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 4216.4 4132.0 4085.4 4234.0 29

 30 Other 2592.2 2627.8 2910.2 3181.9 2706.6 2218.1 2115.4 2007.3 1966.2 30

 31 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Miscellaneous liabilities 138.5 150.5 168.9 207.0 269.2 179.4 130.2 124.1 114.7 32

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.124) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

L.124 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Total financial assets 3548.5 3841.1 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 1

 2 Home mortgages 3446.4 3749.1 4371.8 4864.0 5266.5 1068.8 1216.8 1321.8 1420.6 2

 3 Multifamily residential mortgages 101.3 88.8 88.1 92.8 105.7 66.9 86.4 113.4 147.1 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.8 3.2 4.5 4.7 4.5 3.8 1.7 1.9 1.8 5

 6 Total pool securities (liabilities)(2) 3548.5 3841.1 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 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.123). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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Historical Annuals, 2005-2013, September 18, 2014 83

L.125 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 3390.4 4158.6 4512.0 4100.6 3288.8 2235.4 1988.9 1769.6 1481.2 1

 2 Treasury securities 27.7 61.1 85.8 72.2 53.9 40.1 29.2 23.4 24.3 2

 3 Agency- and GSE-backed securities (1) 309.1 331.7 349.8 323.7 99.6 3.6 0.3 0.3 0.1 3

 4 Other loans and advances 188.3 253.4 341.9 379.8 252.2 167.8 162.4 161.7 150.2 4

 5 Mortgages (2) 2155.6 2787.1 2970.4 2619.1 2249.4 1921.8 1703.2 1493.1 1221.6 5

 6 Home 1649.4 2172.8 2212.9 1901.3 1577.6 1302.3 1109.0 928.3 791.6 6

 7 Multifamily residential 89.4 102.5 123.9 113.1 107.0 98.5 90.8 81.2 75.2 7

 8 Commercial 416.8 511.8 633.6 604.7 564.8 521.0 503.4 483.6 354.8 8

 9 Consumer credit 609.9 617.2 652.5 610.2 572.5 50.3 46.2 50.0 49.2 9

 10 Trade credit 99.8 108.3 111.7 95.5 61.3 51.8 47.6 41.2 35.7 10

 11 Total liabilities 3394.6 4162.2 4515.1 4103.3 3291.1 2235.4 1988.9 1769.6 1481.2 11

 12 Commercial paper 674.4 837.4 643.1 559.3 293.1 120.2 96.0 87.0 79.9 12

 13 Corporate bonds (net) (3) 2720.2 3324.9 3872.0 3544.0 2998.1 2115.3 1892.8 1682.6 1401.3 13

 Memo:

 Securitized assets not included above

 14 Consumer leases (4) 4.2 3.6 3.1 2.7 2.3 0.0 0.0 0.0 0.0 14

 15 REIT assets (5) 107.3 110.0 92.1 45.4 18.6 18.1 14.3 15.6 155.2 15

 Securitized liabilities not included above

 16 Commercial paper (6) 0.0 0.0 0.0 0.0 0.0 112.9 120.6 87.5 59.7 16

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Liabilities net of assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(5) Included in table L.127.

(6) Included in table L.110 line 43.

L.126 Finance Companies (1)

Billions of dollars

 1 Total financial assets 1856.9 1891.3 1911.2 1851.7 1662.5 1588.5 1569.3 1493.7 1472.8 1

 2 Checkable deposits and currency 17.4 15.8 16.2 16.5 17.0 26.5 31.7 27.8 32.1 2

 3 Time and savings deposits 52.2 47.4 48.6 49.4 51.0 79.6 95.0 83.5 96.2 3

 4 Credit market instruments 1740.6 1809.1 1834.3 1769.4 1549.7 1405.4 1359.6 1324.9 1305.4 4

 5 Corporate and foreign bonds 203.5 184.8 189.4 192.4 198.6 84.1 85.0 78.7 67.9 5

 6 Other loans and advances 479.2 498.0 523.0 539.9 448.9 372.7 375.8 387.0 401.3 6

 7 Mortgages 541.4 594.3 549.9 482.9 430.3 243.5 211.2 179.5 157.0 7

 8 Consumer credit 516.5 531.9 572.1 554.3 471.9 705.0 687.6 679.8 679.1 8

 9 U.S. direct investment abroad 17.7 42.0 177.9 221.0 186.9 206.0 221.8 225.4 228.6 9

 10 Miscellaneous assets 29.0 -23.0 -165.8 -204.6 -142.1 -129.0 -138.7 -168.1 -189.5 10

 11 Total liabilities 1828.3 1876.8 1949.6 1880.5 1630.3 1558.7 1532.7 1445.6 1424.0 11

 12 Credit market instruments 1108.6 1144.2 1279.6 1200.3 1044.1 1280.7 1261.9 1205.1 1209.3 12

 13 Open market paper 160.0 165.3 123.5 100.9 62.1 111.0 121.0 129.1 118.8 13

 14 Corporate bonds 806.5 849.7 974.1 924.5 837.5 1078.2 1038.8 957.5 961.9 14

 15 Depository institution loans n.e.c. 142.1 129.2 182.0 174.9 144.5 91.5 102.1 118.5 128.6 15

 16 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Taxes payable 16.9 17.0 15.5 15.4 12.7 6.0 6.7 6.7 6.8 17

 18 Foreign direct investment in U.S. 38.8 51.1 68.6 78.1 90.0 114.7 91.1 90.9 73.0 18

 19 Miscellaneous liabilities 664.0 664.6 585.8 586.7 483.6 157.3 173.0 142.9 134.9 19

 20 Investment by parent 312.2 338.5 321.4 313.0 280.5 175.7 163.7 162.8 161.8 20

 21 Other 351.8 326.0 264.4 273.7 203.1 -18.4 9.3 -19.9 -26.9 21

 Memo:

 22 Consumer leases not included above (2) 85.3 106.0 122.9 111.1 85.4 111.8 119.7 144.0 167.3 22

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table L.125.
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84 Historical Annuals, 2005-2013, September 18, 2014

L.127 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 305.8 344.5 318.5 250.6 262.8 302.4 433.4 594.2 644.2 1

 2 Checkable deposits and currency 13.6 18.4 16.6 18.4 30.9 25.1 27.6 35.3 34.0 2

 3 Credit market instruments 240.3 266.4 246.5 177.6 167.2 211.1 331.2 458.5 497.6 3

 4 Agency- and GSE-backed securities 40.6 65.4 88.9 89.6 105.2 143.4 248.1 357.6 261.9 4

 5 Corporate and foreign bonds 53.0 64.6 34.4 11.7 16.0 23.2 27.0 36.5 36.3 5

 6 Mortgages 146.7 136.3 123.1 76.3 46.0 44.6 56.1 64.5 199.3 6

 7 Home 127.9 104.2 80.7 34.3 8.9 9.0 19.8 26.5 23.1 7

 8 Multifamily residential 1.9 5.0 5.2 4.3 2.3 2.0 1.7 1.9 2.4 8

 9 Commercial 16.8 27.1 37.3 37.7 34.8 33.7 34.6 36.1 173.9 9

 10 Miscellaneous assets 51.9 59.7 55.4 54.6 64.8 66.1 74.7 100.4 112.6 10

 11 Total liabilities 534.2 571.8 580.5 511.6 489.9 523.9 654.4 817.8 907.9 11

 12 Security repurchase agreements 83.5 97.9 91.7 79.4 90.5 120.4 218.1 320.6 254.0 12

 13 Credit market instruments 395.5 411.0 421.2 367.4 339.8 339.9 365.5 401.0 579.4 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 216.7 230.6 231.3 171.0 144.4 145.4 152.9 179.6 353.2 15

 16 Depository institution loans n.e.c. 33.3 28.4 33.2 32.8 20.2 18.4 23.0 27.0 24.0 16

 17 Mortgages 145.5 152.1 156.7 163.5 175.3 176.1 189.5 194.4 202.2 17

 18 Miscellaneous liabilities 55.3 63.0 67.6 64.9 59.6 63.7 70.8 96.3 74.6 18

 Memo:

 19 Securitized assets included above 107.3 110.0 92.1 45.4 18.6 18.1 14.3 15.6 155.2 19

 20 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Home mortgages 102.5 92.7 72.4 31.8 6.1 7.2 6.5 10.2 14.2 21

 22 Multifamily residential mortgages 0.1 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.3 22

 23 Commercial mortgages 4.7 17.0 19.3 13.2 12.2 10.6 7.5 5.2 140.7 23

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables L.127.e and L.127.m.
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Historical Annuals, 2005-2013, September 18, 2014 85

L.128 Security Brokers and Dealers

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 3568.7 4168.2 4685.9 3505.6 3269.3 3503.6 3532.8 3706.5 3408.4 1

 2 Checkable deposits and currency 56.5 80.5 105.0 120.1 90.7 96.9 111.8 128.2 111.7 2

 3 Security repurchase agreements 1441.7 1426.5 1593.9 1288.4 1185.0 1428.5 1583.1 1638.2 1321.0 3

 4 Credit market instruments 477.2 583.4 803.1 717.4 525.3 557.5 563.2 652.3 476.9 4

 5 Open market paper 60.2 64.3 87.1 65.7 41.5 36.2 42.1 29.9 28.7 5

 6 Treasury securities -64.6 -67.0 -85.0 190.6 123.0 94.5 183.6 246.5 136.0 6

 7 Agency- and GSE-backed securities 101.0 138.0 315.2 242.6 110.9 149.8 147.7 169.6 114.2 7

 8 Municipal securities 42.9 50.9 50.1 38.7 35.4 40.0 30.9 26.6 18.6 8

 9 Corporate and foreign bonds 315.7 355.5 382.8 123.8 154.4 189.5 104.5 140.0 128.9 9

 10 Other loans and advances 22.0 41.7 52.8 55.9 60.1 47.4 54.3 39.6 50.4 10

 11 Corporate equities 158.3 186.4 224.8 109.2 124.2 117.2 103.2 126.7 172.4 11

 12 Security credit 232.4 292.1 325.5 164.8 203.0 278.2 238.9 303.7 339.2 12

 13 U.S. direct investment abroad 201.1 244.1 185.3 187.4 231.0 239.3 201.7 217.5 225.8 13

 14 Miscellaneous assets 1001.5 1355.3 1448.3 918.3 910.1 786.0 730.9 639.8 761.4 14

 15 Total liabilities 3494.3 4095.6 4613.3 3446.5 3162.7 3404.3 3460.5 3621.4 3324.6 15

 16 Security repurchase agreements 2320.4 2707.1 2972.6 2107.2 1810.4 2006.3 2076.7 2207.9 1768.6 16

 17 Credit market instruments 62.4 68.8 64.8 142.6 92.9 129.7 91.8 90.2 112.4 17

 18 Corporate bonds 62.4 68.8 64.8 97.1 92.9 129.7 91.8 90.2 112.4 18

 19 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 45.5 0.0 0.0 0.0 0.0 0.0 19

 20 Trade payables 43.1 48.3 45.8 21.2 70.1 18.1 14.3 14.2 14.5 20

 21 Security credit 660.8 749.1 969.5 777.2 733.7 763.5 795.4 828.2 897.1 21

 22 From households 623.4 700.6 917.0 737.4 701.7 725.2 726.1 757.0 815.5 22

 23 From U.S.-chartered depository institutions 21.8 27.9 25.9 23.7 20.4 23.6 35.8 45.0 52.9 23

 24 From foreign banking offices in U.S. 15.5 20.6 26.5 16.1 11.6 14.7 33.5 26.2 28.7 24

 25 Taxes payable 2.1 2.8 2.2 2.5 5.7 3.6 2.5 3.1 3.7 25

 26 Foreign direct investment in U.S. 49.9 61.0 62.6 72.1 64.4 88.5 104.6 110.4 119.5 26

 27 Miscellaneous liabilities 355.6 458.5 495.8 323.8 385.6 394.6 375.1 367.4 408.7 27

 28 Investment by parent companies 524.1 551.0 567.5 672.1 1119.3 1122.9 1163.3 1629.2 1671.8 28

 29 Other -168.5 -92.5 -71.7 -348.3 -733.7 -728.3 -788.1 -1261.8 -1263.1 29

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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86 Historical Annuals, 2005-2013, September 18, 2014

L.129 Holding Companies (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 1651.5 1937.9 2141.3 2430.3 3317.2 3312.7 3357.3 4284.3 4243.7 1

 2 Time and savings deposits 1.4 1.6 0.8 0.7 11.2 10.0 12.4 34.4 35.9 2

 3 Federal funds and security repos 8.5 9.5 6.9 0.3 48.2 50.3 50.5 10.5 7.7 3

 4 Credit market instruments 32.2 36.0 59.1 73.0 75.8 97.9 101.1 209.2 151.8 4

 5 Treasury securities 1.1 2.5 7.1 3.1 5.8 19.6 26.8 8.2 16.6 5

 6 Agency- and GSE-backed securities 11.2 11.2 9.9 25.8 24.3 21.1 33.1 22.9 28.0 6

 7 Corporate and foreign bonds 11.8 16.7 35.9 35.8 31.1 38.3 18.3 72.7 31.5 7

 8 Other loans and advances 8.1 5.6 6.3 8.2 14.6 18.9 22.9 105.3 75.7 8

 9 Life insurance reserves 0.0 15.2 20.5 19.3 21.4 25.1 27.6 34.9 39.9 9

 10 Miscellaneous assets 1609.4 1875.8 2054.0 2337.0 3160.6 3129.4 3165.9 3995.3 4008.3 10

 11 Net trans. with depository subs. 989.7 1142.9 1256.9 1370.5 1599.5 1632.8 1709.0 1889.2 1937.3 11

 12 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.2 5.2 12

 13 Net trans. with life insurance company subs. 35.6 38.3 43.7 31.2 40.5 62.7 72.0 17.2 10.7 13

 14 Net trans. with finance company subs. 195.2 198.5 239.9 232.6 209.3 115.0 94.6 91.1 75.4 14

 15 Net trans. with broker and dealer subs. 110.2 114.5 57.0 155.2 596.1 626.6 613.5 1060.5 1087.6 15

 16 Net trans. with foreign subs. 27.1 68.4 110.6 101.5 125.1 135.6 166.3 114.7 97.8 16

 17 Other 251.6 313.2 345.9 446.0 590.3 556.7 510.4 811.3 794.3 17

 18 Total liabilities 708.0 865.2 1048.5 1233.3 1805.1 1762.7 1706.4 2238.7 2142.1 18

 19 Federal funds and security repos 9.1 10.3 7.7 0.7 0.6 0.8 1.2 0.0 0.0 19

 20 Credit market instruments 481.8 558.7 710.6 807.9 1253.7 1237.2 1220.8 1416.4 1402.7 20

 21 Commercial paper 57.1 81.7 116.7 77.7 60.8 64.7 75.9 116.4 96.6 21

 22 Corporate bonds 372.4 421.5 516.0 638.9 1028.7 982.2 890.6 1103.2 1095.6 22

 23 Depository institution loans n.e.c. 52.3 55.4 77.9 91.3 164.2 190.3 254.3 196.8 210.6 23

 24 Miscellaneous liabilities 217.1 296.3 330.2 424.6 550.9 524.6 484.4 822.3 739.4 24

(1) Parent-only bank holding companies and savings and loan holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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Historical Annuals, 2005-2013, September 18, 2014 87

L.130 Funding Corporations (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 1409.4 1458.5 1741.5 2284.6 1773.9 1610.1 1448.4 1363.3 1309.9 1

 2 Money market fund shares 366.8 334.4 652.3 905.8 752.1 604.1 514.9 483.0 424.2 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.0 3

 4 Credit market instruments 439.8 490.2 337.8 585.3 270.2 311.6 245.8 185.4 177.9 4

 5 Open market paper 361.8 415.8 193.0 348.8 72.0 126.7 120.5 103.0 88.9 5

 6 Corporate and foreign bonds 67.5 60.4 124.0 200.6 175.3 163.4 105.8 69.6 78.4 6

 7 Other loans and advances 10.6 14.1 20.8 35.9 22.9 21.4 19.4 12.9 10.6 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 25.1 26.4 0.0 0.0 0.0 8

 9 Miscellaneous assets 602.8 633.9 751.5 793.5 726.3 667.9 687.6 694.8 707.8 9

 10 Investment in foreign banking offices 188.8 197.3 241.0 276.6 203.1 171.6 137.8 126.0 123.5 10

 11 Investment in brokers and dealers 414.0 436.5 510.5 516.9 523.2 496.4 549.7 568.8 584.3 11

 12 Total liabilities 1409.4 1458.5 1741.5 2284.6 1773.9 1610.1 1448.4 1363.3 1309.9 12

 13 Credit market instruments 619.9 645.3 786.4 1252.8 816.8 704.2 651.8 593.5 620.5 13

 14 Open market paper 274.5 278.3 367.9 388.0 261.7 167.1 94.3 29.0 45.2 14

 15 Corporate bonds 345.3 367.0 418.5 419.9 457.8 454.6 526.2 561.5 572.9 15

 16 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 444.9 95.3 73.4 21.5 0.0 0.0 16

 17 Other loans and advances (4) 0.0 0.0 0.0 0.0 2.0 9.2 9.8 3.0 2.4 17

 18 Foreign direct investment in U.S. 8.4 9.0 9.6 10.2 10.8 11.4 12.0 12.6 13.2 18

 19 Miscellaneous liabilities 781.1 804.2 945.5 1021.6 946.3 894.5 784.6 757.2 676.1 19

 20 Securities loaned (net) 939.7 1242.3 1240.2 887.0 856.8 733.4 658.7 579.5 673.5 20

 21 Equity interest under PPIP 0.0 0.0 0.0 0.0 1.8 7.7 8.8 8.7 8.7 21

 22 Other (net) -158.6 -438.1 -294.7 134.6 87.6 153.5 117.1 168.9 -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.
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88 Historical Annuals, 2005-2013, September 18, 2014

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 60.9 62.0 66.9 73.8 174.8 175.5 190.9 193.2 187.7 1

 2 Federal government: SDR allocations 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 54.4 2

 3 Rest of the world 53.9 54.6 59.2 66.3 119.4 121.1 136.7 138.9 133.4 3

 4 SDR holdings 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 55.2 4

 5 Reserve position in IMF 8.0 5.0 4.2 7.7 11.4 12.5 30.1 34.2 30.8 5

 6 Other reserves 37.6 40.7 45.5 49.3 50.2 51.8 51.6 49.7 47.4 6

 7 Total assets 71.9 73.0 78.0 84.9 185.8 186.6 201.9 204.3 198.8 7

 8 Federal government 35.1 34.2 36.0 41.6 94.3 95.1 110.9 114.2 109.8 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 55.2 10

 11 Reserve position in IMF 8.1 5.2 4.4 7.8 11.5 12.6 30.3 34.4 31.0 11

 12 Other reserves 18.7 20.2 22.2 24.5 25.0 25.7 25.6 24.7 23.6 12

 13 Rest of the world: SDR allocations 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 54.4 13

 14 Monetary authority 29.9 31.4 34.2 35.7 36.2 37.0 36.8 35.8 34.6 14

 15 Monetary gold (2) 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

 16 Reserve position in IMF -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.3 -0.2 -0.2 16

 17 Other reserves 18.9 20.5 23.3 24.8 25.3 26.1 26.0 25.0 23.8 17

 18 Discrepancy: monetary gold -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

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

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 1

 2 Asset: Monetary authority 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 2

 Treasury currency:

 3 Liab: Federal government 27.5 28.1 27.4 26.6 26.2 25.9 25.9 25.9 25.6 3

 4 Asset: Monetary authority 36.5 38.2 38.7 38.7 42.7 43.5 44.2 44.8 45.5 4

 5 Discrepancy (seigniorage) -9.1 -10.1 -11.3 -12.1 -16.5 -17.6 -18.3 -18.8 -19.9 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 1165.5 1346.1 1636.2 1302.9 1258.4 1303.9 1066.4 922.8 954.8 1

 Held by:

 2 Household sector 63.8 69.9 87.7 69.9 62.7 67.3 57.4 49.7 52.5 2

 3 Nonfinancial corporate business 63.6 49.3 50.3 24.7 31.5 40.6 34.8 35.8 87.8 3

 4 Money market mutual funds 75.8 65.8 100.2 85.6 97.1 105.9 42.9 43.3 33.7 4

 5 Discrepancy--unallocated assets 962.3 1161.1 1398.1 1122.8 1067.0 1090.1 931.3 794.0 780.8 5
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Historical Annuals, 2005-2013, September 18, 2014 89

L.203 Net Interbank Transactions

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 46.0 50.7 0.6 1752.4 1215.5 1068.5 1889.0 1683.8 2795.4 1

 2 Monetary authority 69.1 70.4 75.8 917.7 1031.9 1020.8 1623.1 1562.1 2322.7 2

 3 U.S.-chartered depository institutions 251.8 345.5 445.8 1130.1 633.7 428.3 164.9 36.7 227.8 3

 4 Foreign banking offices in U.S. -212.5 -301.5 -458.6 -225.6 -377.8 -347.1 157.5 155.6 313.1 4

 5 Banks in U.S.-affiliated areas -3.0 -2.9 -2.6 -3.2 -4.2 -3.3 -4.6 -4.9 -4.7 5

 6 Credit unions -59.3 -60.8 -59.8 -66.6 -68.1 -30.0 -51.9 -65.7 -63.5 6

 7 Total assets 106.8 112.1 56.8 1763.8 1212.4 1043.8 1860.7 1663.8 2718.5 7

 8 Rest of the world 36.7 42.0 -67.5 287.9 86.0 24.2 238.1 102.1 396.7 8

 9 Monetary authority 1.0 -0.3 48.6 558.2 94.5 -1.2 -0.4 -0.4 -0.9 9

 10 U.S.-chartered depository institutions 67.5 69.2 74.3 674.8 716.3 628.5 859.5 869.6 1326.5 10

 11 Foreign banking offices in U.S. 0.9 0.6 1.0 239.0 284.1 350.8 711.0 638.8 948.1 11

 12 Credit unions 0.7 0.6 0.5 4.0 31.5 41.5 52.6 53.8 48.1 12

 13 Discrepancy -60.7 -61.4 -56.3 -11.4 3.0 24.8 28.3 20.1 76.9 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 50.1 51.7 55.0 57.7 54.9 52.7 60.8 71.1 73.6 14

 15 Asset: U.S.-chartered depository institutions 50.1 51.7 55.0 57.7 54.9 52.7 60.8 71.1 73.6 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority 19.0 18.7 20.8 860.0 977.0 968.1 1562.3 1491.0 2249.1 17

 18 Asset: U.S.-chartered depository institutions 17.4 17.5 19.3 617.0 661.4 575.8 798.7 798.5 1252.9 18

 19 Foreign banking offices in U.S. 0.9 0.6 1.0 239.0 284.1 350.8 711.0 638.8 948.0 19

 20 Credit unions 0.7 0.6 0.5 4.0 31.5 41.5 52.6 53.8 48.1 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions 1.0 -0.3 48.6 558.2 94.5 -1.2 -0.4 -0.4 -0.9 21

 22 Asset: Monetary authority 1.0 -0.3 48.6 558.2 94.5 -1.2 -0.4 -0.4 -0.9 22

 23 Federal Reserve float 0.9 -0.3 -0.0 -1.5 -2.1 -1.4 -0.6 -0.5 -1.0 23

 24 Loans to member banks 0.1 0.1 48.6 559.7 96.6 0.2 0.2 0.1 0.1 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) 298.6 397.5 447.3 552.1 498.6 420.1 110.9 23.0 176.5 25

 26 Due to foreign affiliates 512.6 611.1 684.9 853.5 803.3 824.8 602.6 403.6 507.3 26

 27 - Due from foreign affiliates 214.1 213.6 237.6 301.4 304.7 404.6 491.7 380.6 330.7 27

 28 Foreign banking offices in U.S. (net) -250.6 -358.0 -500.2 -263.6 -413.2 -376.1 135.9 84.3 224.7 28

 29 Due to foreign affiliates 587.6 685.6 764.6 812.9 787.3 841.2 1137.9 1047.9 1173.7 29

 30 - Due from foreign affiliates 838.3 1043.6 1264.8 1076.5 1200.5 1217.3 1002.0 963.6 949.0 30

 31 Less: Deposits at foreign banks 33.4 22.9 35.7 31.3 21.7 35.3 22.9 20.3 20.0 31

 32 U.S.-chartered depository institutions 14.8 13.6 21.5 26.7 11.3 18.2 14.3 11.0 11.5 32

 33 Foreign banking offices in U.S. 18.6 9.3 14.1 4.7 10.4 17.0 8.6 9.3 8.5 33

 34 Plus: Loans from foreign banks 22.1 25.5 21.0 30.7 22.3 15.5 14.2 15.1 15.5 34

 35 U.S.-chartered depository institutions 5.1 7.5 7.7 11.7 9.7 6.3 6.7 6.4 6.4 35

 36 Foreign banking offices in U.S. 17.0 18.0 13.3 19.0 12.6 9.2 7.5 8.6 9.1 36

 37 Asset: Rest of the world (1) 36.7 42.0 -67.5 287.9 86.0 24.2 238.1 102.1 396.7 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) -38.1 -45.5 -36.3 34.7 42.2 21.3 62.1 18.7 57.2 38

 39 Due to (3): 57.6 56.9 57.9 111.1 109.3 91.2 112.9 122.0 174.1 39

 40 Foreign banking offices in U.S. 55.9 54.6 51.8 52.7 33.9 33.1 28.2 31.3 29.0 40

 41 Banks in U.S.-affiliated areas 3.0 2.9 2.6 3.2 4.2 3.3 4.6 4.9 4.7 41

 42 Credit unions 59.3 60.8 59.8 66.6 68.1 30.0 51.9 65.7 63.5 42

 43 - Due from: Foreign banking offices in U.S. 95.6 102.4 94.2 76.3 67.0 69.9 50.8 103.3 116.9 43

 44 Unallocated (2) -60.7 -61.4 -56.3 -11.4 3.0 24.8 28.3 20.1 76.9 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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90 Historical Annuals, 2005-2013, September 18, 2014

L.204 Checkable Deposits and Currency

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 1527.2 1507.3 1532.9 2101.3 2093.4 2359.8 2594.3 2853.8 3186.5 1

 2 Monetary authority 750.8 774.3 792.1 1220.3 1102.7 1287.8 1165.7 1224.6 1364.1 2

 3 Federal government cash and deposits 4.8 5.0 16.4 365.7 191.9 340.9 85.9 92.9 162.6 3

 4 Due to government-sponsored enterprises 2.0 0.8 1.7 21.1 35.1 13.5 64.6 27.2 25.9 4

 5 Deposits due to foreign 0.1 0.1 0.1 1.4 2.4 3.4 0.2 6.5 8.0 5

 6 Currency outside banks 743.9 768.5 773.9 832.2 873.3 930.0 1015.0 1098.1 1167.6 6

 7 U.S.-chartered depository institutions 672.7 637.1 639.6 777.5 871.6 941.1 1260.5 1431.7 1579.8 7

 8 Federal government deposits 33.9 28.0 42.9 3.5 3.8 3.6 1.0 1.3 1.6 8

 9 Deposits due to foreign 17.4 26.8 31.7 62.9 34.3 30.4 56.1 51.8 50.2 9

 10 Private domestic deposits 621.5 582.3 564.9 711.1 833.5 907.0 1203.5 1378.5 1528.1 10

 11 Foreign banking offices in U.S. 9.3 9.3 11.8 13.5 16.1 21.9 45.6 61.8 92.6 11

 12 Deposits due to foreign 2.3 2.1 2.3 4.7 10.5 14.6 19.0 27.9 40.2 12

 13 Private domestic deposits 7.0 7.2 9.5 8.8 5.6 7.3 26.6 33.9 52.4 13

 14 Banks in U.S.-affiliated areas 13.3 14.0 15.7 14.6 16.1 16.6 19.4 21.9 28.2 14

 15 Credit unions 81.1 72.6 73.7 75.3 86.9 92.4 103.1 113.9 121.7 15

 16 Total assets 1527.2 1507.3 1532.9 2101.3 2093.4 2359.8 2594.3 2853.8 3186.5 16

 17 Household sector 285.9 239.7 153.3 295.2 396.1 423.7 752.2 899.1 1035.0 17

 18 Nonfinancial business 642.1 599.6 658.8 603.6 689.3 766.1 793.5 823.6 897.8 18

 19 Corporate 268.0 150.7 143.1 84.2 154.9 234.5 264.2 279.4 357.3 19

 20 Noncorporate 374.2 448.8 515.7 519.5 534.4 531.6 529.3 544.2 540.5 20

 21 State and local governments 66.0 71.5 71.1 79.4 99.0 104.6 121.2 117.2 123.9 21

 22 Federal government 37.0 33.2 56.9 368.3 193.9 342.3 84.6 92.2 163.0 22

 23 Rest of the world 300.1 311.6 306.1 370.1 361.0 390.5 472.3 540.4 590.3 23

 24 Checkable deposits 19.7 28.9 34.2 69.0 47.2 48.4 75.2 86.2 98.4 24

 25 Currency 280.4 282.6 272.0 301.1 313.8 342.1 397.1 454.2 491.9 25

 26 Financial sectors 186.9 244.6 277.0 378.5 348.2 327.1 364.3 374.4 371.5 26

 27 Property-casualty insurance companies 21.0 29.9 42.7 27.9 27.6 32.6 24.1 36.4 29.7 27

 28 Life insurance companies 47.7 56.1 58.3 82.8 50.7 51.7 53.7 56.4 47.2 28

 29 Private pension funds 10.7 17.4 18.7 13.1 10.3 12.5 18.1 16.4 16.5 29

 30 State and local govt. retirement funds 6.3 3.5 3.9 4.0 3.6 4.2 4.5 4.8 5.5 30

 31 Money market mutual funds -0.9 6.6 1.9 7.5 17.9 14.2 20.1 16.5 13.3 31

 32 Government-sponsored enterprises 14.6 16.4 13.7 88.3 99.4 63.4 72.7 52.6 81.6 32

 33 Finance companies 17.4 15.8 16.2 16.5 17.0 26.5 31.7 27.8 32.1 33

 34 REITs 13.6 18.4 16.6 18.4 30.9 25.1 27.6 35.3 34.0 34

 35 Brokers and dealers 56.5 80.5 105.0 120.1 90.7 96.9 111.8 128.2 111.7 35

 36 Mail float 9.0 7.2 9.7 6.1 6.0 5.4 6.3 7.0 4.9 36
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Historical Annuals, 2005-2013, September 18, 2014 91

L.205 Time and Savings Deposits 

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 6490.6 7126.7 7746.4 8088.8 8432.5 8548.1 8952.2 9463.7 9872.9 1

 2 Small time and savings deposits 4598.1 4945.1 5224.5 5749.3 6326.5 6624.9 7202.2 7803.9 8110.8 2

 3 U.S.-chartered depository institutions 4111.6 4418.3 4664.0 5144.6 5617.0 5888.6 6425.7 6979.2 7236.0 3

 4 Foreign banking offices in U.S. 10.0 18.6 25.5 25.6 29.9 35.7 48.9 62.7 90.4 4

 5 Banks in U.S.-affiliated areas 23.9 25.2 26.3 27.4 24.5 19.3 18.9 18.8 21.4 5

 6 Credit unions 452.5 483.0 508.7 551.7 655.2 681.3 708.7 743.1 763.1 6

 7 Large time deposits (1) 1892.4 2181.6 2521.9 2339.5 2105.9 1923.2 1750.0 1659.9 1762.0 7

 8 U.S.-chartered depository institutions 1225.0 1364.4 1429.6 1365.6 1029.9 896.1 882.9 803.0 826.9 8

 9 Foreign banking offices in U.S. 580.9 727.0 996.2 876.2 1024.2 977.7 814.6 798.4 869.5 9

 10 Banks in U.S.-affiliated areas 23.9 25.2 26.3 27.4 24.5 19.3 18.9 18.8 21.4 10

 11 Credit unions 62.5 65.0 69.9 70.4 27.3 30.1 33.5 39.7 44.3 11

 12 Total assets 6490.6 7126.7 7746.4 8088.8 8432.5 8548.1 8952.2 9463.7 9872.9 12

 13 Household sector 4965.0 5484.1 5973.6 6234.6 6326.0 6450.8 6822.2 7190.7 7397.8 13

 14 Nonfinancial business 774.5 841.4 800.7 670.0 842.1 905.0 922.1 963.9 1022.3 14

 15 Corporate 450.4 497.0 441.3 311.9 488.8 548.7 561.9 598.8 649.5 15

 16 Noncorporate 324.1 344.4 359.3 358.1 353.3 356.2 360.1 365.1 372.7 16

 17 State and local governments 168.8 185.9 218.6 236.5 246.4 240.6 256.2 289.5 301.9 17

 18 Federal government 1.4 1.7 2.8 1.6 1.9 2.0 1.7 2.0 1.5 18

 19 Rest of the world 223.2 257.2 298.9 372.4 299.2 308.2 355.6 393.4 442.8 19

 20 Financial sectors 357.6 356.5 451.7 573.8 716.8 641.6 594.5 624.2 706.5 20

 21 Private pension funds 61.5 29.9 33.6 29.1 32.1 31.4 33.0 29.1 28.8 21

 22 State and local govt. retirement funds 15.8 24.5 28.0 29.3 30.2 35.6 38.0 37.4 45.4 22

 23 Money market mutual funds 191.3 219.3 294.0 396.8 566.6 458.9 402.7 435.4 494.8 23

 24 Government-sponsored enterprises 35.3 33.9 46.6 68.5 25.7 26.1 13.4 4.3 5.4 24

 25 Finance companies 52.2 47.4 48.6 49.4 51.0 79.6 95.0 83.5 96.2 25

 26 Holding companies 1.4 1.6 0.8 0.7 11.2 10.0 12.4 34.4 35.9 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 1993.1 2296.3 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2678.3 1

 2 Household sector 942.7 1106.6 1345.9 1580.5 1313.1 1130.1 1114.9 1123.9 1145.2 2

 3 Nonfinancial corporate business 352.2 421.3 548.5 727.0 655.5 497.8 462.4 480.6 521.1 3

 4 Nonfinancial noncorporate business 69.0 72.2 74.3 75.4 73.7 76.8 77.7 78.7 80.4 4

 5 State and local governments 89.9 105.3 123.3 126.1 136.1 150.2 154.0 161.9 166.6 5

 6 Rest of the world 23.0 27.0 46.0 69.7 76.9 69.8 74.4 96.9 113.3 6

 7 Property-casualty insurance companies 12.8 13.5 20.7 32.8 29.6 25.6 20.0 22.3 20.0 7

 8 Life insurance companies 13.5 23.3 21.6 39.2 33.7 21.0 28.8 27.5 21.6 8

 9 Private pension funds 86.7 144.2 151.1 156.2 146.6 136.4 152.9 135.7 137.9 9

 10 State and local govt. retirement funds 36.6 48.6 49.4 44.6 41.2 43.5 42.6 39.1 48.0 10

 11 Funding corporations 366.8 334.4 652.3 905.8 752.1 604.1 514.9 483.0 424.2 11
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92 Historical Annuals, 2005-2013, September 18, 2014

L.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 3756.6 4427.8 4845.3 3555.7 3175.6 3597.9 3878.7 4130.1 3652.9 1

 2 Rest of the world 381.0 566.9 681.1 402.3 454.8 663.7 764.7 805.1 721.6 2

 3 Monetary authority 30.5 29.6 44.0 88.4 77.7 59.7 99.9 107.2 315.9 3

 4 U.S.-chartered depository institutions 654.0 680.9 736.9 727.2 532.1 484.0 402.5 349.9 265.2 4

 5 Foreign banking offices in U.S. 252.5 309.8 288.4 131.7 195.2 250.0 304.4 325.0 312.7 5

 6 Credit unions 0.0 0.0 0.0 2.4 0.0 0.0 0.0 0.0 0.0 6

 7 Property-casualty insurance companies 1.3 1.2 0.5 2.4 0.6 1.5 0.4 0.8 2.2 7

 8 Life insurance companies 20.9 21.2 20.2 12.9 12.4 10.3 10.4 13.5 12.7 8

 9 Government-sponsored enterprises 3.3 2.9 2.3 1.3 1.2 1.3 0.4 0.0 0.0 9

 10 REITs 83.5 97.9 91.7 79.4 90.5 120.4 218.1 320.6 254.0 10

 11 Brokers and dealers 2320.4 2707.1 2972.6 2107.2 1810.4 2006.3 2076.7 2207.9 1768.6 11

 12 Holding companies 9.1 10.3 7.7 0.7 0.6 0.8 1.2 0.0 0.0 12

 13 Total assets 3434.4 3923.0 4559.7 3513.7 2969.2 3342.6 3554.2 3924.5 3614.3 13

 14 Nonfinancial corporate business 14.6 15.5 8.1 7.2 7.9 12.1 12.6 9.7 8.8 14

 15 State and local governments 130.0 135.7 142.1 130.2 126.1 125.0 121.6 128.3 132.5 15

 16 Rest of the world 705.0 1025.8 1098.4 563.2 489.4 581.8 678.5 671.9 734.1 16

 17 Monetary authority 46.8 40.8 46.5 80.0 0.0 0.0 0.0 0.0 0.0 17

 18 U.S.-chartered depository institutions 306.3 377.4 520.2 575.1 266.9 267.6 242.6 303.7 215.7 18

 19 Foreign banking offices in U.S. 169.2 228.4 245.6 68.1 68.2 88.4 120.1 178.3 177.1 19

 20 Credit unions 6.7 5.1 2.5 0.1 0.1 0.0 15.9 9.7 0.1 20

 21 Property-casualty insurance companies 2.7 1.9 3.6 4.4 4.5 3.8 1.7 1.8 1.8 21

 22 Life insurance companies 2.6 2.6 2.7 8.0 10.2 10.9 10.1 8.5 8.5 22

 23 Private pension funds 22.1 3.5 3.7 2.8 2.9 2.7 2.7 2.4 2.3 23

 24 State and local govt. retirement funds 7.0 3.1 3.3 3.1 3.0 3.4 3.4 3.3 3.9 24

 25 Money market mutual funds 345.6 394.8 605.9 542.4 480.0 479.4 490.5 544.7 493.0 25

 26 Mutual funds 115.4 132.8 132.2 124.7 153.3 137.5 108.7 262.8 355.7 26

 27 Government-sponsored enterprises 110.3 119.6 144.1 115.8 123.3 151.2 112.3 150.8 152.3 27

 28 Brokers and dealers 1441.7 1426.5 1593.9 1288.4 1185.0 1428.5 1583.1 1638.2 1321.0 28

 29 Holding companies 8.5 9.5 6.9 0.3 48.2 50.3 50.5 10.5 7.7 29

 30 Funding corporations 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.0 30

 31 Discrepancy 322.2 504.8 285.6 42.0 206.4 255.3 324.5 205.6 38.6 31
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Historical Annuals, 2005-2013, September 18, 2014 93

L.208 Open Market Paper

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total outstanding, all types 1644.2 1958.4 1788.9 1599.8 1138.0 1057.6 969.3 952.4 951.6 1

 2 Commercial paper 1640.1 1957.5 1788.1 1599.3 1137.4 1057.5 969.2 952.4 951.6 2

 3 Nonfinancial corporate business 90.1 112.5 123.8 131.5 58.4 82.9 116.3 130.3 144.5 3

 4 Foreign issues in U.S. 384.0 482.3 413.0 342.0 401.3 398.6 345.1 373.0 407.0 4

 5 Nonfinancial 29.0 27.0 29.0 49.7 34.5 30.6 30.2 40.4 51.6 5

 6 Financial 355.0 455.3 384.0 292.3 366.8 368.0 314.9 332.6 355.4 6

 7 Financial business 1166.1 1362.7 1251.3 1125.8 677.6 575.9 507.8 449.1 400.2 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 112.9 120.6 87.5 59.7 8

 9 ABS issuers 674.4 837.4 643.1 559.3 293.1 120.2 96.0 87.0 79.9 9

 10 Finance companies 160.0 165.3 123.5 100.9 62.1 111.0 121.0 129.1 118.8 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 57.1 81.7 116.7 77.7 60.8 64.7 75.9 116.4 96.6 12

 13 Funding corporations 274.5 278.3 367.9 388.0 261.7 167.1 94.3 29.0 45.2 13

 14 Bankers’ acceptances (1) 4.1 0.9 0.8 0.5 0.6 0.1 0.1 0.0 0.0 14

 15 U.S.-chartered depository institutions 3.3 0.4 0.3 0.5 0.6 0.1 0.1 0.0 0.0 15

 16 Foreign banking offices in U.S. 0.8 0.5 0.5 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holdings, by sector 1644.2 1958.4 1788.9 1599.8 1138.0 1057.6 969.3 952.4 951.6 17

 18 Household sector 98.4 117.5 107.3 6.0 22.7 21.1 19.4 18.8 15.0 18

 19 Nonfinancial corporate business 111.0 122.7 69.5 57.3 56.0 68.0 67.9 59.8 38.0 19

 20 State and local governments 153.3 151.9 149.8 127.9 88.9 102.1 91.0 85.1 76.9 20

 21 Rest of the world 156.8 213.3 226.3 165.5 117.2 102.1 102.7 102.8 101.7 21

 22 Monetary authority 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) 0.0 0.0 0.0 15.7 0.0 0.0 0.0 0.0 0.0 23

 24 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Credit unions 0.8 1.0 0.4 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Property-casualty insurance companies 15.8 16.4 13.3 19.1 9.8 7.9 8.8 7.4 8.0 26

 27 Life insurance companies 24.4 28.7 41.7 38.3 49.8 40.9 29.7 43.6 46.7 27

 28 Private pension funds 26.5 43.2 46.6 40.5 42.2 40.2 42.6 37.8 34.4 28

 29 State and local govt. retirement funds 34.8 36.0 37.5 38.2 37.4 41.9 44.0 42.6 51.5 29

 30 Money market mutual funds 489.4 600.8 674.6 618.5 510.5 394.2 354.2 340.8 352.1 30

 31 Mutual funds 97.1 114.5 114.1 51.6 80.2 66.3 40.0 77.5 105.2 31

 32 Government-sponsored enterprises 13.8 32.4 27.7 6.8 9.7 9.9 6.5 3.4 4.4 32

 33 Brokers and dealers 60.2 64.3 87.1 65.7 41.5 36.2 42.1 29.9 28.7 33

 34 Funding corporations 361.8 415.8 193.0 348.8 72.0 126.7 120.5 103.0 88.9 34

(1) Excludes banks’ holdings of own acceptances.
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94 Historical Annuals, 2005-2013, September 18, 2014

L.209 Treasury Securities

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 4678.0 4861.7 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 12328.3 1

 2 U.S. savings securities (1) 205.2 202.4 196.5 194.1 191.3 188.0 185.3 182.5 179.2 2

 3 Treasury bills 960.7 940.8 999.5 1861.2 1787.9 1768.9 1519.5 1626.5 1590.6 3

 4 Other Treasury securities 3512.2 3718.5 3903.2 4282.9 5802.7 7404.6 8723.6 9759.9 10558.5 4

 5 Total assets 4678.0 4861.7 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 12328.3 5

 6 Household sector 425.7 325.8 202.9 184.1 854.0 1126.6 707.0 929.3 949.0 6

 7 U.S. savings securities (1) 205.2 202.4 196.5 194.1 191.3 188.0 185.3 182.5 179.2 7

 8 Bills and other Treasury securities 220.5 123.4 6.5 -10.0 662.7 938.6 521.7 746.8 769.8 8

 9 Nonfinancial corporate business 52.1 45.5 38.3 30.5 43.0 48.0 43.0 39.5 40.2 9

 10 Nonfinancial noncorporate business 56.2 56.3 59.3 51.8 46.1 48.1 48.6 49.3 50.3 10

 11 State and local governments 512.3 570.7 648.5 602.6 585.6 593.5 561.7 607.9 593.4 11

 12 Rest of the world 1984.4 2126.2 2376.4 3253.0 3670.6 4458.8 5004.4 5571.5 5794.9 12

 13 Treasury bills 264.7 253.3 302.7 758.0 750.4 710.3 647.7 661.7 686.0 13

 14 Other Treasury securities 1719.7 1872.8 2073.7 2495.0 2920.2 3748.5 4356.7 4909.8 5108.9 14

 15 Monetary authority 744.2 778.9 740.6 475.9 776.6 1021.5 1663.4 1666.1 2208.8 15

 16 Treasury bills 271.3 277.0 227.8 18.4 18.4 18.4 18.4 0.0 0.0 16

 17 Other Treasury securities 472.9 501.9 512.8 457.5 758.2 1003.1 1645.0 1666.1 2208.8 17

 18 U.S.-chartered depository institutions 76.5 74.4 80.1 56.4 124.5 217.5 173.9 243.2 217.1 18

 19 Foreign banking offices in U.S. 27.8 26.8 30.4 35.5 57.5 60.9 60.5 76.6 67.0 19

 20 Banks in U.S.-affiliated areas 3.9 3.7 1.8 1.2 0.5 1.1 1.0 0.4 1.2 20

 21 Credit unions 7.7 7.4 10.4 8.8 14.2 20.1 17.6 19.3 19.1 21

 22 Property-casualty insurance companies 106.9 110.0 71.3 65.6 88.5 91.7 96.4 89.7 95.7 22

 23 Treasury bills 37.7 34.2 16.2 10.8 15.8 15.5 17.4 14.1 23.5 23

 24 Other Treasury securities 69.2 75.8 55.1 54.8 72.8 76.2 78.9 75.6 72.1 24

 25 Life insurance companies 95.4 87.9 70.6 105.7 133.5 156.6 175.4 180.9 168.6 25

 26 Treasury bills 4.3 4.7 2.3 20.1 13.9 10.2 14.0 9.5 6.7 26

 27 Other Treasury securities 91.2 83.2 68.3 85.6 119.6 146.4 161.4 171.4 162.0 27

 28 Private pension funds 113.8 137.3 137.8 142.9 175.7 206.9 233.9 278.3 314.4 28

 29 State and local govt. retirement funds 158.5 157.9 150.5 137.1 161.8 172.5 184.1 203.2 216.5 29

 30 Federal government retirement funds 68.0 76.6 87.8 112.5 119.9 130.0 153.5 165.6 178.0 30

 31 Money market mutual funds 88.6 82.6 178.2 577.7 406.4 335.4 443.3 457.8 488.2 31

 32 Treasury bills 69.8 63.3 136.9 478.7 318.5 234.5 263.7 282.8 289.5 32

 33 Other Treasury securities 18.8 19.4 41.3 98.9 87.9 100.9 179.7 175.0 198.6 33

 34 Mutual funds 161.9 162.6 165.5 184.0 258.0 379.2 453.8 574.4 627.0 34

 35 Treasury bills 0.0 0.0 0.0 0.0 0.0 29.8 30.2 42.4 33.6 35

 36 Other Treasury securities 161.9 162.6 165.5 184.0 258.0 349.4 423.6 532.0 593.4 36

 37 Closed-end funds 7.1 7.3 5.6 3.2 4.4 5.1 4.8 5.2 5.7 37

 38 Exchange-traded funds 9.7 13.1 19.7 27.1 41.8 51.0 62.4 63.6 57.1 38

 39 Government-sponsored enterprises 13.1 14.2 15.5 16.8 36.6 82.6 100.2 69.0 59.1 39

 40 ABS issuers 27.7 61.1 85.8 72.2 53.9 40.1 29.2 23.4 24.3 40

 41 Brokers and dealers -64.6 -67.0 -85.0 190.6 123.0 94.5 183.6 246.5 136.0 41

 42 Holding companies 1.1 2.5 7.1 3.1 5.8 19.6 26.8 8.2 16.6 42

 Memo:

 43 Federal government debt (2) 4701.9 4885.3 5122.3 6361.5 7805.4 9385.6 10453.6 11593.7 12352.8 43

(1) Includes U.S. savings bonds, U.S. individual retirement bonds, U.S. retirement plan bonds, U.S. savings stamps, and matured U.S. savings securities.

(2) Total Treasury securities (line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 11).
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Historical Annuals, 2005-2013, September 18, 2014 95

L.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 6164.5 6492.4 7397.7 8166.7 8106.8 7598.2 7577.4 7554.6 7794.1 1

 2 Budget agencies 23.8 23.5 23.1 23.3 23.5 24.2 25.3 24.9 24.5 2

 3 Government-sponsored enterprises 2592.2 2627.8 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6200.2 3

 4 Agency- and GSE-backed mortgage pools 3548.5 3841.1 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 4

 5 Total assets 6164.5 6492.4 7397.7 8166.7 8106.8 7598.2 7577.4 7554.6 7794.1 5

 6 Household sector 587.4 613.4 873.9 1056.6 357.4 335.4 300.2 152.7 97.7 6

 7 Nonfinancial corporate business 17.4 15.2 12.8 10.2 14.3 16.0 14.3 13.2 9.4 7

 8 State and local governments 413.4 452.6 497.6 479.9 490.2 513.9 507.0 504.7 490.9 8

 9 Federal government 0.0 0.0 0.0 54.4 196.4 149.2 31.1 0.0 0.0 9

 10 Rest of the world 1006.1 1258.2 1576.8 1402.2 1150.0 1095.8 1078.2 1001.2 885.3 10

 11 Monetary authority 0.0 0.0 0.0 19.7 1068.3 1139.6 941.7 1003.4 1547.4 11

 12 U.S.-chartered depository institutions 1185.0 1217.3 1106.3 1242.5 1417.4 1527.2 1634.1 1669.6 1717.3 12

 13 Foreign banking offices in U.S. 50.9 55.1 57.1 50.6 31.3 26.5 30.6 32.1 25.4 13

 14 Banks in U.S.-affiliated areas 34.8 29.0 26.3 24.4 20.5 12.8 4.8 2.6 1.9 14

 15 Credit unions 86.4 72.5 68.4 82.9 110.7 151.5 182.1 197.0 199.2 15

 16 Property-casualty insurance companies 117.9 122.0 125.8 114.3 116.2 115.8 122.7 114.3 108.7 16

 17 Life insurance companies 368.5 377.4 382.9 366.2 371.9 376.0 374.4 360.9 354.1 17

 18 Private pension funds 248.4 182.1 185.8 184.0 177.5 184.0 188.3 210.4 225.6 18

 19 State and local govt. retirement funds 190.3 200.8 199.3 172.6 168.7 169.6 182.0 202.9 216.4 19

 20 Federal government retirement funds 5.8 5.6 5.4 5.2 5.2 5.8 6.5 8.1 6.4 20

 21 Money market mutual funds 162.0 133.9 235.9 756.2 543.0 402.8 403.7 343.5 361.1 21

 22 Mutual funds 477.1 497.1 576.6 553.3 603.2 681.3 787.5 877.0 855.4 22

 23 Government-sponsored enterprises 751.1 714.0 702.9 910.0 924.5 377.0 358.9 310.6 287.9 23

 24 ABS issuers 309.1 331.7 349.8 323.7 99.6 3.6 0.3 0.3 0.1 24

 25 REITs 40.6 65.4 88.9 89.6 105.2 143.4 248.1 357.6 261.9 25

 26 Brokers and dealers 101.0 138.0 315.2 242.6 110.9 149.8 147.7 169.6 114.2 26

 27 Holding companies 11.2 11.2 9.9 25.8 24.3 21.1 33.1 22.9 28.0 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown in table L.209, line 43.
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96 Historical Annuals, 2005-2013, September 18, 2014

L.211 Municipal Securities and Loans

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 3019.3 3189.3 3424.8 3517.2 3672.5 3772.1 3719.4 3714.4 3671.2 1

 2 State and local governments 2579.2 2679.6 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 2924.9 2

 3 Short-term (1) 42.5 34.3 51.2 55.8 63.6 63.0 52.3 56.1 45.3 3

 4 Long-term 2536.7 2645.2 2774.4 2786.9 2891.3 2960.6 2917.6 2908.2 2879.6 4

 5 Nonprofit organizations (2) 212.7 229.1 250.2 259.5 265.4 263.2 255.5 241.0 227.8 5

 6 Nonfinancial corporate business 227.3 280.6 349.0 415.0 452.2 485.4 493.9 509.1 518.5 6

 (industrial revenue bonds)

 7 Total assets 3019.3 3189.3 3424.8 3517.2 3672.5 3772.1 3719.4 3714.4 3671.2 7

 8 Household sector 1600.6 1635.7 1673.5 1720.8 1827.9 1871.5 1805.9 1661.0 1617.7 8

 9 Nonfinancial corporate business 32.1 28.1 29.2 26.2 27.1 23.9 22.3 24.0 12.1 9

 10 Nonfinancial noncorporate business 4.4 5.8 5.3 4.9 5.1 5.6 5.7 5.8 5.9 10

 11 State and local governments 6.9 8.3 10.0 10.4 11.5 12.9 13.2 13.7 13.9 11

 12 Rest of the world 29.0 34.4 45.1 51.0 58.7 71.7 72.4 71.8 76.1 12

 13 U.S.-chartered depository institutions 166.1 190.1 202.0 221.9 224.3 254.6 297.3 365.0 418.9 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 14

 15 Banks in U.S.-affiliated areas 0.5 1.3 2.0 2.5 3.5 2.5 3.4 2.6 3.6 15

 16 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 3.2 4.2 4.6 16

 17 Property-casualty insurance companies 313.2 335.2 371.3 381.9 369.4 348.4 331.0 328.1 325.8 17

 18 Life insurance companies 32.5 36.6 41.4 47.1 73.1 112.3 121.8 131.5 141.6 18

 19 State and local govt. retirement funds 1.7 1.6 1.5 1.4 1.5 2.3 1.6 0.9 1.2 19

 20 Money market mutual funds 349.1 392.0 496.6 509.5 440.1 386.7 357.3 336.7 308.3 20

 21 Mutual funds 311.2 343.9 371.6 389.4 478.8 525.5 541.2 627.4 613.9 21

 22 Closed-end funds 89.3 89.3 91.2 77.9 81.2 81.6 82.5 85.9 84.2 22

 23 Exchange-traded funds 0.0 0.0 0.6 2.3 5.9 7.6 8.6 12.3 11.4 23

 24 Government-sponsored enterprises 39.7 36.1 33.3 31.3 29.1 24.9 21.0 17.0 13.4 24

 25 Brokers and dealers 42.9 50.9 50.1 38.7 35.4 40.0 30.9 26.6 18.6 25

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
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Historical Annuals, 2005-2013, September 18, 2014 97

L.212 Corporate and Foreign Bonds

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 8141.2 9183.9 10543.2 10044.0 10371.8 10327.8 10415.7 10910.9 11103.2 1

 2 Nonfinancial corporate business 2662.6 2737.3 2856.1 2972.6 3188.4 3367.8 3529.5 3853.9 4134.5 2

 3 Rest of the world (1) 824.8 1024.3 1425.7 1091.2 1447.8 1677.6 1913.6 2186.5 2250.4 3

 4 Financial sectors 4653.8 5422.4 6261.4 5980.2 5735.6 5282.4 4972.6 4870.5 4718.3 4

 5 U.S.-chartered depository institutions 130.4 159.9 184.8 184.8 176.3 377.1 379.4 295.9 221.0 5

 6 ABS issuers (net) (2) 2720.2 3324.9 3872.0 3544.0 2998.1 2115.3 1892.8 1682.6 1401.3 6

 7 Finance companies 806.5 849.7 974.1 924.5 837.5 1078.2 1038.8 957.5 961.9 7

 8 REITs 216.7 230.6 231.3 171.0 144.4 145.4 152.9 179.6 353.2 8

 9 Brokers and dealers 62.4 68.8 64.8 97.1 92.9 129.7 91.8 90.2 112.4 9

 10 Holding companies 372.4 421.5 516.0 638.9 1028.7 982.2 890.6 1103.2 1095.6 10

 11 Funding corporations 345.3 367.0 418.5 419.9 457.8 454.6 526.2 561.5 572.9 11

 12 Total assets (3) 8141.2 9183.9 10543.2 10044.0 10371.8 10327.8 10415.7 10910.9 11103.2 12

 13 Household sector 591.4 556.0 914.2 1253.0 1539.2 1353.1 1343.0 1233.9 1004.6 13

 14 State and local governments 131.5 144.1 158.7 153.3 156.8 164.6 164.1 170.1 172.5 14

 15 Federal government 0.0 0.0 0.0 0.0 0.6 0.9 0.8 0.6 0.6 15

 16 Rest of the world (4) 1803.8 2353.3 2775.0 2383.9 2483.5 2523.1 2491.0 2617.6 2734.0 16

 17 MBS and other ABS 505.9 753.0 852.2 583.6 484.8 441.4 415.5 403.9 394.9 17

 18 Other 1297.9 1600.3 1922.8 1800.3 1998.7 2081.7 2075.6 2213.6 2339.1 18

 19 U.S.-chartered depository institutions 492.8 564.0 715.5 652.4 668.2 550.5 553.0 544.0 559.2 19

 20 MBS and other ABS 236.4 268.3 383.7 314.6 262.9 174.9 150.1 149.1 147.7 20

 21 Other 256.5 295.7 331.9 337.8 405.2 375.6 402.9 394.9 411.4 21

 22 Foreign banking offices in U.S. 267.5 295.8 373.1 405.4 247.6 238.2 236.7 230.5 196.4 22

 23 Banks in U.S.-affiliated areas 0.8 0.4 0.5 0.5 2.0 0.6 4.2 5.2 5.8 23

 24 Credit unions 23.5 30.6 34.6 28.9 22.3 6.6 6.3 6.7 8.9 24

 25 MBS and other ABS 0.0 0.0 0.0 3.3 3.6 6.1 5.9 6.6 8.7 25

 26 Other 23.5 30.6 34.6 25.7 18.6 0.5 0.4 0.1 0.2 26

 27 Property-casualty insurance companies 262.8 277.0 282.9 267.5 298.3 322.6 363.1 382.7 406.9 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 71.3 74.5 83.2 28

 29 Other 262.8 277.0 282.9 267.5 298.3 322.6 291.8 308.2 323.7 29

 30 Life insurance companies 1824.8 1819.5 1862.6 1817.0 1927.2 2030.2 2117.3 2162.2 2223.0 30

 31 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 434.9 410.6 419.7 31

 32 Other 1824.8 1819.5 1862.6 1817.0 1927.2 2030.2 1682.3 1751.6 1803.3 32

 33 Private pension funds 287.9 347.3 368.6 372.4 356.4 438.5 483.0 566.9 572.1 33

 34 State and local govt. retirement funds 339.0 419.6 468.9 491.6 391.1 397.0 386.1 356.8 386.4 34

 35 Federal government retirement funds 4.4 4.8 6.3 5.8 5.7 5.9 7.3 9.0 7.7 35

 36 Money market mutual funds 259.5 360.9 376.8 228.0 169.9 154.2 105.1 102.1 102.1 36

 37 Mutual funds 660.1 764.4 886.5 956.2 1120.7 1243.0 1413.4 1719.4 1998.8 37

 38 Closed-end funds 69.0 74.8 74.3 49.5 55.6 59.7 57.3 64.8 80.2 38

 39 Exchange-traded funds 5.3 7.6 13.8 27.7 55.4 74.1 107.7 155.3 174.8 39

 40 Government-sponsored enterprises 465.7 481.7 464.4 386.6 296.0 266.5 235.7 185.7 126.3 40

 41 MBS and other ABS 382.9 393.5 373.4 309.1 288.2 241.6 209.5 178.3 119.4 41

 42 Other 82.7 88.3 90.9 77.5 7.9 24.8 26.2 7.4 6.8 42

 43 Finance companies 203.5 184.8 189.4 192.4 198.6 84.1 85.0 78.7 67.9 43

 44 REITs 53.0 64.6 34.4 11.7 16.0 23.2 27.0 36.5 36.3 44

 45 Brokers and dealers 315.7 355.5 382.8 123.8 154.4 189.5 104.5 140.0 128.9 45

 46 Holding companies 11.8 16.7 35.9 35.8 31.1 38.3 18.3 72.7 31.5 46

 47 Funding corporations 67.5 60.4 124.0 200.6 175.3 163.4 105.8 69.6 78.4 47

(1) Holdings of foreign issues by U.S. residents.

(2) Liabilities net of assets.

(3) For some sectors, holdings of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately issued asset-backed bonds.

(4) Holdings of U.S. issues by foreign residents.
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98 Historical Annuals, 2005-2013, September 18, 2014

L.213 Corporate Equities (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Issues at market value 20636.1 24339.3 25580.9 15640.5 20085.5 23567.2 22960.8 26237.2 33671.6 1

 2 Nonfinancial corporate business 12686.6 14602.3 15730.7 10016.6 12512.2 14371.6 14388.7 15994.4 20761.7 2

 3 Rest of the world (2) 3317.7 4329.0 5248.0 2748.4 3995.3 4900.2 4501.4 5311.5 6444.2 3

 4 Financial corporations 4631.9 5408.0 4602.2 2875.4 3578.1 4295.4 4070.7 4931.3 6465.6 4

 5 Holdings at market value 20636.1 24339.3 25580.9 15640.5 20085.5 23567.2 22960.8 26237.2 33671.6 5

 6 Household sector 8025.4 10126.0 9911.7 5760.5 7255.5 8679.9 8475.6 9623.9 12451.3 6

 7 State and local governments 116.0 132.9 141.7 91.0 111.8 126.3 125.2 140.7 167.6 7

 8 Federal government 0.0 0.0 0.0 188.7 67.4 49.9 57.8 39.9 35.1 8

 9 Rest of the world (3) 2118.4 2560.2 2956.2 1925.2 2658.4 3216.0 3397.2 3953.0 5163.7 9

 10 Monetary authority 0.0 0.0 0.0 0.0 25.1 26.4 0.0 0.0 0.0 10

 11 U.S.-chartered depository institutions 62.9 79.8 88.8 33.8 63.6 73.6 67.4 71.3 101.3 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 12

 13 Property-casualty insurance companies 198.1 221.0 231.3 190.1 215.6 214.8 220.8 252.2 309.7 13

 14 Life insurance companies 1161.8 1364.8 1464.6 1001.7 1208.5 1402.6 1390.2 1545.1 1794.4 14

 15 Private pension funds 2359.9 2058.2 2126.3 1324.3 1569.0 1849.9 1751.8 1974.3 2404.7 15

 16 State and local govt. retirement funds 1758.1 1961.2 2094.1 1371.9 1751.0 1929.9 1850.5 2058.7 2471.3 16

 17 Federal government retirement funds 110.9 135.6 145.7 83.7 116.8 140.9 134.4 148.1 206.2 17

 18 Mutual funds 4175.7 4989.6 5476.9 3014.1 4136.2 4762.7 4427.2 5109.4 6852.2 18

 19 Closed-end funds 104.9 121.7 145.2 72.3 87.4 96.7 95.9 100.6 114.5 19

 20 Exchange-traded funds 285.8 402.0 573.7 474.0 670.0 854.1 863.8 1093.3 1427.3 20

 21 Brokers and dealers 158.3 186.4 224.8 109.2 124.2 117.2 103.2 126.7 172.4 21

 22 Funding corporations 0.0 0.0 0.0 0.0 25.1 26.4 0.0 0.0 0.0 22

(1) Excludes mutual fund shares shown on table L.214.

(2) Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Holdings of U.S. issues by foreign residents.

L.214 Mutual Fund Shares (1)

Billions of dollars

 1 Shares at market value 6045.6 7065.0 7822.6 5388.0 6920.7 7873.0 7870.9 9326.1 11544.8 1

 2 Holdings at market value 6045.6 7065.0 7822.6 5388.0 6920.7 7873.0 7870.9 9326.1 11544.8 2

 3 Household sector 3527.1 4080.3 4597.4 3261.8 4104.0 4641.1 4661.8 5705.4 7152.4 3

 4 Nonfinancial corporate business 134.4 173.2 178.0 106.3 162.0 186.8 165.9 180.1 211.4 4

 5 State and local governments 40.7 49.1 55.0 36.3 48.5 58.4 59.3 67.3 81.2 5

 6 Rest of the world 162.7 204.7 229.5 137.6 182.4 260.0 370.4 495.4 544.5 6

 7 U.S.-chartered depository institutions 17.4 24.5 29.6 19.6 46.1 45.0 41.7 45.8 57.9 7

 8 Credit unions 2.2 2.1 2.1 2.0 1.3 1.5 1.9 2.3 2.2 8

 9 Property-casualty insurance companies 7.2 13.0 11.7 7.6 9.5 10.2 9.1 11.8 15.5 9

 10 Life insurance companies 109.0 148.8 188.4 121.0 140.8 155.7 150.1 159.3 184.8 10

 11 Private pension funds 1649.1 1919.1 2077.3 1417.9 1886.9 2147.9 2119.7 2384.7 2969.0 11

 12 State and local govt. retirement funds 395.9 450.2 453.6 277.9 339.1 366.3 291.2 273.9 325.9 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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Historical Annuals, 2005-2013, September 18, 2014 99

L.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 1583.0 1770.1 2094.5 2794.4 2035.9 2001.2 2147.8 2322.7 2508.8 1

 2 Household sector -16.5 30.9 21.8 26.4 -15.9 61.0 11.5 62.6 92.7 2

 3 Corporate business 590.9 612.9 715.7 779.9 545.8 477.1 546.0 607.9 654.4 3

 4 Noncorporate business 670.5 785.8 926.7 1046.2 944.2 927.4 984.2 1072.2 1121.8 4

 5 Rest of the world 110.4 127.4 137.3 152.4 137.5 162.0 205.2 237.7 276.7 5

 6 Foreign official institutions 3.3 2.6 2.8 4.6 4.5 6.6 5.4 6.2 7.1 6

 7 Foreign banks 25.3 28.3 37.2 42.6 37.4 53.0 69.8 70.4 90.5 7

 8 Other foreign 81.8 96.5 97.2 105.2 95.6 102.4 130.0 161.0 179.1 8

 9 Financial sectors 227.7 213.0 293.1 789.5 424.2 373.6 400.8 342.3 363.2 9

 10 Finance companies 142.1 129.2 182.0 174.9 144.5 91.5 102.1 118.5 128.6 10

 11 REITs 33.3 28.4 33.2 32.8 20.2 18.4 23.0 27.0 24.0 11

 12 Brokers and dealers 0.0 0.0 0.0 45.5 0.0 0.0 0.0 0.0 0.0 12

 13 Holding companies 52.3 55.4 77.9 91.3 164.2 190.3 254.3 196.8 210.6 13

 14 Funding corporations 0.0 0.0 0.0 444.9 95.3 73.4 21.5 0.0 0.0 14

 15 Total assets 1583.0 1770.1 2094.5 2794.4 2035.9 2001.2 2147.8 2322.7 2508.8 15

 16 Monetary authority (2) 0.0 0.0 0.0 490.4 142.8 98.1 30.5 0.6 0.1 16

 17 U.S.-chartered depository institutions 1221.5 1335.7 1551.9 1690.7 1404.8 1425.9 1589.6 1797.1 1933.5 17

 18 Foreign banking offices in U.S. 316.2 386.3 493.9 561.5 435.5 424.2 467.1 463.4 507.2 18

 19 Banks in U.S.-affiliated areas 25.9 25.6 21.4 19.7 19.4 16.1 17.1 18.1 19.4 19

 20 Credit unions 19.5 22.5 27.3 32.1 33.4 36.9 43.5 43.6 48.7 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table L.108.
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100 Historical Annuals, 2005-2013, September 18, 2014

L.216 Other Loans and Advances

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total other loans and advances 1819.8 1980.8 2508.4 2627.2 2096.1 1762.8 1767.7 1819.8 1935.0 1

 2 U.S. government loans 104.7 105.3 103.0 109.1 175.3 179.0 183.8 186.3 193.5 2

 3 Liab.: Household sector 11.5 12.9 12.5 12.8 12.6 11.6 11.2 11.0 12.1 3

 4 Nonfinancial corporate business 10.0 11.2 10.9 15.3 74.9 70.6 70.1 75.3 76.2 4

 5 Nonfinancial noncorporate business 41.0 45.7 46.8 48.9 52.5 53.0 55.9 56.5 58.5 5

 6 State and local governments 10.6 11.2 11.9 12.7 13.5 14.4 15.3 15.7 16.2 6

 7 Rest of the world 74.9 69.5 67.8 67.7 69.8 72.5 76.4 82.0 87.7 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Funding corporations 0.0 0.0 0.0 0.0 2.0 9.2 9.8 3.0 2.4 10

 11 Foreign loans to U.S. corporate business 162.5 168.8 271.1 226.4 182.5 162.3 196.1 143.9 140.4 11

 12 Liab.: Nonfinancial corporate business 162.5 168.8 271.1 226.4 182.5 162.3 196.1 143.9 140.4 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 3.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Foreign banking offices in U.S. 0.8 0.4 0.5 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business 3.8 0.3 0.2 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.2 0.2 0.3 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans 8.1 5.6 6.3 8.2 14.6 18.9 22.9 105.3 75.7 17

 18 Liab.: Nonfinancial corporate business 8.1 5.6 6.3 8.2 14.6 18.9 22.9 99.3 71.7 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.1 4.0 19

 20 Policy loans (Household liability) 107.6 110.9 114.5 120.4 121.1 124.5 126.9 128.3 129.2 20

 21 Asset: Federal government 0.7 0.6 0.6 0.6 0.5 0.5 0.5 0.4 0.4 21

 22 Life insurance companies 106.9 110.2 113.9 119.8 120.6 124.0 126.5 127.8 128.8 22

 23 Government-sponsored enterprise loans (1) 671.8 704.9 942.6 980.7 695.9 551.3 487.0 505.7 587.5 23

 24 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) 5.9 7.6 9.4 5.7 5.3 6.8 5.9 6.6 6.8 25

 26 Nonfinancial noncorporate business (FCS) 45.8 56.0 66.1 74.6 74.8 80.5 77.8 85.4 88.2 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 594.0 608.3 806.1 805.0 541.1 392.8 332.3 336.9 406.2 27

 28 Credit unions (FHLB) 14.7 18.9 32.3 40.6 26.5 26.1 24.2 25.1 27.0 28

 29 Life insurance companies (FHLB) 11.5 14.2 28.7 54.9 48.3 45.1 46.8 51.6 59.4 29

 30 Securitized loans held by ABS issuers 93.9 97.7 93.7 78.1 54.4 4.0 0.1 1.8 1.9 30

 31 Liab.: Nonfinancial corporate business 93.9 97.7 93.7 78.1 54.4 4.0 0.1 1.8 1.9 31

 32 Finance company loans to business 479.2 498.0 523.0 539.9 448.9 372.7 375.8 387.0 401.3 32

 33 Liab.: Nonfinancial corporate business 431.3 448.2 470.7 485.9 404.0 335.5 338.2 348.3 361.2 33

 34 Nonfinancial noncorporate business 47.9 49.8 52.3 54.0 44.9 37.3 37.6 38.7 40.1 34

 35 Loans to nonfinancial corporate business (2) 188.1 289.2 453.8 564.3 403.4 350.2 375.1 361.6 405.4 35

 36 Asset: Household sector 8.7 9.1 17.6 29.7 26.8 26.2 23.4 20.9 25.9 36

 37 Life insurance companies 15.9 22.4 31.9 46.3 20.4 16.7 22.2 22.6 25.1 37

 38 Mutual funds 36.5 46.3 82.4 94.8 75.4 74.6 93.5 105.7 145.1 38

 39 ABS issuers 94.5 155.7 248.3 301.7 197.8 163.8 162.3 160.0 148.3 39

 40 Brokers and dealers 22.0 41.7 52.8 55.9 60.1 47.4 54.3 39.6 50.4 40

 41 Funding corporations 10.6 14.1 20.8 35.9 22.9 21.4 19.4 12.9 10.6 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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Historical Annuals, 2005-2013, September 18, 2014 101

L.217 Total Mortgages

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total mortgages 12110.3 13526.8 14622.7 14716.1 14425.4 13793.7 13490.7 13283.2 13295.5 1

 2 Home 9420.8 10500.6 11239.0 11153.0 10937.8 10445.4 10203.5 9983.6 9894.5 2

 3 Multifamily residential 668.8 710.5 797.3 848.1 855.0 851.9 859.1 894.7 932.2 3

 4 Commercial 1915.9 2207.7 2473.8 2580.3 2486.6 2342.4 2260.9 2232.0 2293.1 4

 5 Farm 104.8 108.0 112.7 134.7 146.0 154.1 167.2 173.0 175.7 5

 6 Total liabilities 12110.3 13526.8 14622.7 14716.1 14425.4 13793.7 13490.7 13283.2 13295.5 6

 7 Household sector 9085.5 10100.8 10815.7 10780.3 10622.8 10121.9 9899.9 9696.9 9619.4 7

 8 Nonfinancial business 2879.3 3274.0 3650.3 3772.3 3627.3 3495.7 3401.3 3391.9 3474.0 8

 9 Corporate 786.4 897.9 967.1 902.0 758.3 643.0 570.7 575.3 602.5 9

 10 Noncorporate 2092.9 2376.1 2683.3 2870.3 2869.0 2852.7 2830.6 2816.6 2871.4 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 145.5 152.1 156.7 163.5 175.3 176.1 189.5 194.4 202.2 12

 13 Total assets 12110.3 13526.8 14622.7 14716.1 14425.4 13793.7 13490.7 13283.2 13295.5 13

 14 Household sector 140.8 123.6 110.7 111.8 110.9 100.1 100.8 86.9 79.8 14

 15 Nonfinancial corporate business 68.3 59.8 41.4 33.6 29.5 28.0 27.4 26.6 25.8 15

 16 Nonfinancial noncorporate business 36.2 34.6 42.1 39.1 37.9 42.1 42.5 43.1 44.0 16

 17 State and local governments 158.9 175.0 193.6 187.9 193.0 203.5 203.4 210.8 213.9 17

 18 Federal government 76.6 80.3 82.4 95.8 108.4 106.6 109.9 111.5 115.5 18

 19 U.S.-chartered depository institutions 4054.9 4415.7 4658.6 4615.2 4371.9 4194.9 4049.6 4028.8 3983.5 19

 20 Foreign banking offices in U.S. 20.8 24.9 39.0 44.2 37.8 35.4 32.8 30.9 30.3 20

 21 Banks in U.S.-affiliated areas 35.1 39.2 40.8 42.6 42.3 35.8 33.4 34.9 32.4 21

 22 Credit unions 226.1 252.5 280.2 312.2 316.9 317.0 320.5 327.8 345.9 22

 23 Property-casualty insurance companies 2.7 3.5 4.8 5.0 4.4 4.1 4.9 5.6 7.9 23

 24 Life insurance companies 285.5 303.8 326.2 342.4 326.1 317.5 332.5 344.4 363.2 24

 25 Private pension funds 9.8 31.9 34.2 26.1 23.7 26.5 21.9 23.1 19.7 25

 26 State and local govt. retirement funds 13.7 15.9 17.9 15.1 12.3 11.9 11.9 11.2 8.6 26

 27 Government-sponsored enterprises (1) 588.8 607.2 643.1 705.3 707.7 5021.0 4924.0 4823.5 4877.8 27

 28 Agency- and GSE-backed mortgage pools 3548.5 3841.1 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1569.4 28

 29 ABS issuers 2155.6 2787.1 2970.4 2619.1 2249.4 1921.8 1703.2 1493.1 1221.6 29

 30 Finance companies 541.4 594.3 549.9 482.9 430.3 243.5 211.2 179.5 157.0 30

 31 REITs 146.7 136.3 123.1 76.3 46.0 44.6 56.1 64.5 199.3 31
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102 Historical Annuals, 2005-2013, September 18, 2014

L.218 Home Mortgages (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 9420.8 10500.6 11239.0 11153.0 10937.8 10445.4 10203.5 9983.6 9894.5 1

 2 Household sector 8912.7 9910.1 10611.7 10579.4 10418.1 9914.2 9698.5 9497.9 9415.9 2

 3 Nonfinancial corporate business 31.1 39.4 42.2 32.7 20.3 13.6 10.2 9.7 10.0 3

 4 Nonfinancial noncorporate business 477.0 551.2 585.1 540.9 499.4 517.6 494.8 476.0 468.7 4

 5 Total assets 9420.8 10500.6 11239.0 11153.0 10937.8 10445.4 10203.5 9983.6 9894.5 5

 6 Household sector 117.9 102.9 90.8 91.2 83.2 75.2 67.2 59.2 51.2 6

 7 Nonfinancial corporate business 40.9 35.9 25.0 20.2 17.7 16.8 16.4 16.0 15.5 7

 8 Nonfinancial noncorporate business 13.3 12.7 15.4 14.3 13.9 15.4 15.5 15.8 16.1 8

 9 State and local governments 81.8 90.1 99.7 96.8 99.4 104.8 104.8 108.6 110.1 9

 10 Federal government 13.2 13.3 13.7 16.4 22.1 23.9 24.0 25.2 25.6 10

 11 U.S.-chartered depository institutions 2730.2 2933.5 3068.9 2884.5 2693.4 2615.6 2538.0 2509.1 2394.6 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 7.0 0.9 1.1 1.3 1.8 1.4 12

 13 Banks in U.S.-affiliated areas 16.3 17.2 21.5 22.9 22.6 20.1 17.8 20.0 18.9 13

 14 Credit unions 226.1 252.5 280.2 312.2 316.9 317.0 320.5 327.8 345.9 14

 15 Life insurance companies 7.5 10.3 9.4 8.6 8.7 9.0 9.0 9.5 10.1 15

 16 Private pension funds 1.4 1.3 1.2 1.3 2.0 1.9 1.6 1.6 1.4 16

 17 State and local govt. retirement funds 4.9 5.7 6.5 5.4 4.4 4.3 4.3 4.0 3.1 17

 18 Government-sponsored enterprises 453.9 457.6 447.9 456.6 433.4 4690.7 4587.7 4476.1 4550.6 18

 19 Agency- and GSE-backed mortgage pools 3446.4 3749.1 4371.8 4864.0 5266.5 1068.8 1216.8 1321.8 1420.6 19

 20 ABS issuers 1649.4 2172.8 2212.9 1901.3 1577.6 1302.3 1109.0 928.3 791.6 20

 21 Finance companies 489.8 541.4 493.7 416.1 366.0 169.5 149.7 132.6 114.7 21

 22 REITs 127.9 104.2 80.7 34.3 8.9 9.0 19.8 26.5 23.1 22

 Memo:

 23 Home equity loans included above (2) 917.4 1067.9 1133.2 1115.9 1033.3 928.5 853.5 769.6 702.9 23

 24 U.S.-chartered depository institutions 700.7 791.2 872.7 894.7 841.4 783.3 723.1 652.7 596.2 24

 25 Foreign banking offices in U.S. 0.0 0.0 0.0 0.8 0.3 0.3 0.3 0.2 0.4 25

 26 Credit unions 75.9 86.9 94.1 98.7 94.6 88.2 82.2 75.7 72.0 26

 27 ABS issuers 42.9 82.2 71.8 46.6 31.5 22.8 18.0 14.5 11.4 27

 28 Finance companies 98.0 107.6 94.5 75.1 65.5 33.9 29.9 26.5 22.9 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 668.8 710.5 797.3 848.1 855.0 851.9 859.1 894.7 932.2 1

 2 Nonfinancial corporate business 32.2 34.3 38.7 41.2 41.4 41.2 41.6 43.4 45.1 2

 3 Nonfinancial noncorporate business 611.8 651.1 735.8 781.9 786.3 782.9 789.7 824.6 857.0 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 24.8 25.1 22.7 25.1 27.3 27.8 27.9 26.7 30.0 5

 6 Total assets 668.8 710.5 797.3 848.1 855.0 851.9 859.1 894.7 932.2 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 1.1 0.9 0.6 0.5 0.5 0.4 0.4 0.4 0.4 8

 9 Nonfinancial noncorporate business 12.3 11.7 14.3 13.3 12.9 14.3 14.5 14.7 15.0 9

 10 State and local governments 63.6 70.0 77.5 75.2 77.2 81.4 81.4 84.3 85.5 10

 11 Federal government 14.9 14.8 14.4 14.5 14.7 14.4 14.1 13.7 13.8 11

 12 U.S.-chartered depository institutions 237.1 253.3 261.1 276.0 267.0 254.9 248.3 258.5 287.9 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 4.3 4.0 3.5 2.9 1.4 1.1 13

 14 Life insurance companies 42.4 46.1 51.8 51.8 48.5 47.2 49.4 51.1 53.6 14

 15 Private pension funds 2.1 2.0 2.1 2.4 2.7 3.1 2.9 2.5 2.2 15

 16 State and local govt. retirement funds 4.1 4.8 5.4 4.5 3.7 3.6 3.6 3.4 2.6 16

 17 Government-sponsored enterprises 93.0 105.4 147.7 190.2 204.4 256.5 259.2 265.5 243.5 17

 18 Agency- and GSE-backed mortgage pools 101.3 88.8 88.1 92.8 105.7 66.9 86.4 113.4 147.1 18

 19 ABS issuers 89.4 102.5 123.9 113.1 107.0 98.5 90.8 81.2 75.2 19

 20 Finance companies 5.6 5.1 5.1 5.3 4.6 5.1 3.6 2.8 2.0 20

 21 REITs 1.9 5.0 5.2 4.3 2.3 2.0 1.7 1.9 2.4 21
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Historical Annuals, 2005-2013, September 18, 2014 103

L.220 Commercial Mortgages

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 1915.9 2207.7 2473.8 2580.3 2486.6 2342.4 2260.9 2232.0 2293.1 1

 2 Household sector 172.8 190.7 204.0 200.9 204.7 207.7 201.4 199.1 203.5 2

 3 Nonfinancial corporate business 703.6 803.5 863.5 799.7 664.2 552.7 478.9 479.9 503.9 3

 4 Nonfinancial noncorporate business 918.7 1086.6 1272.3 1441.2 1469.8 1433.6 1418.9 1385.3 1413.5 4

 5 REITs 120.7 127.0 134.0 138.4 147.9 148.3 161.7 167.7 172.1 5

 6 Total assets 1915.9 2207.7 2473.8 2580.3 2486.6 2342.4 2260.9 2232.0 2293.1 6

 7 Household sector 14.9 17.0 19.1 20.0 19.2 18.1 17.5 17.2 17.6 7

 8 Nonfinancial corporate business 26.3 23.0 15.8 13.0 11.4 10.8 10.6 10.2 9.9 8

 9 Nonfinancial noncorporate business 9.9 9.5 11.5 10.7 10.4 11.5 11.7 11.8 12.1 9

 10 State and local governments 12.7 14.0 15.5 15.0 15.4 16.3 16.3 16.9 17.1 10

 11 Federal government 45.2 48.9 51.0 61.4 67.8 64.1 67.2 68.0 71.9 11

 12 U.S.-chartered depository institutions 1049.7 1188.7 1286.8 1404.2 1367.4 1273.2 1210.3 1202.2 1241.0 12

 13 Foreign banking offices in U.S. 20.8 24.9 39.0 32.8 32.9 30.8 28.5 27.6 27.8 13

 14 Banks in U.S.-affiliated areas 18.8 22.0 19.3 19.7 19.6 15.7 15.6 14.9 13.5 14

 15 Property-casualty insurance companies 2.7 3.5 4.8 5.0 4.4 4.1 4.9 5.6 7.9 15

 16 Life insurance companies 224.3 235.4 252.2 267.1 255.6 248.8 261.1 270.9 286.3 16

 17 Private pension funds 6.3 28.6 30.8 22.4 18.9 21.4 17.4 19.0 16.1 17

 18 State and local govt. retirement funds 4.7 5.4 6.1 5.1 4.2 4.1 4.0 3.8 2.9 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers 416.8 511.8 633.6 604.7 564.8 521.0 503.4 483.6 354.8 20

 21 Finance companies 46.0 47.8 51.1 61.6 59.7 68.9 57.9 44.1 40.3 21

 22 REITs 16.8 27.1 37.3 37.7 34.8 33.7 34.6 36.1 173.9 22

L.221 Farm Mortgages (1)

Billions of dollars

 1 Total liabilities 104.8 108.0 112.7 134.7 146.0 154.1 167.2 173.0 175.7 1

 2 Nonfinancial corporate business 19.5 20.8 22.5 28.4 32.5 35.5 40.0 42.3 43.5 2

 3 Nonfinancial noncorporate business 85.3 87.3 90.1 106.3 113.5 118.6 127.2 130.7 132.2 3

 4 Total assets 104.8 108.0 112.7 134.7 146.0 154.1 167.2 173.0 175.7 4

 5 Household sector 8.0 3.7 0.9 0.7 8.5 6.8 16.1 10.6 11.0 5

 6 Nonfinancial noncorporate business 0.7 0.7 0.8 0.8 0.8 0.8 0.8 0.9 0.9 6

 7 State and local governments 0.8 0.9 1.0 0.9 1.0 1.0 1.0 1.1 1.1 7

 8 Federal government 3.2 3.2 3.3 3.5 3.9 4.3 4.5 4.6 4.2 8

 9 U.S.-chartered depository institutions 37.9 40.1 41.9 50.6 44.2 51.2 52.9 59.0 59.9 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 11.3 12.0 12.8 15.0 13.3 12.4 13.0 13.0 13.2 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 12

 13 Government-sponsored enterprises 42.0 44.2 47.6 58.5 69.9 73.8 77.1 82.0 83.6 13

 14 Agency- and GSE-backed mortgage pools 0.8 3.2 4.5 4.7 4.5 3.8 1.7 1.9 1.8 14

(1) Excludes mortgages on farm houses.
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104 Historical Annuals, 2005-2013, September 18, 2014

L.222 Consumer Credit

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities (Households) 2320.6 2461.9 2615.7 2650.6 2552.8 2647.4 2755.9 2923.6 3097.9 1

 2 Total assets 2320.6 2461.9 2615.7 2650.6 2552.8 2647.4 2755.9 2923.6 3097.9 2

 3 Households (nonprofit organizations) (1) 0.0 79.2 87.6 94.6 88.8 78.4 74.5 65.6 59.1 3

 4 Nonfinancial corporate business 59.6 52.1 56.4 55.2 53.2 45.5 47.4 49.2 43.5 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 89.8 108.7 115.7 135.1 223.1 356.2 484.7 616.8 729.8 6

 7 U.S.-chartered depository institutions 816.1 836.7 894.9 965.0 906.3 1185.5 1192.6 1218.6 1271.6 7

 8 Credit unions 228.6 236.1 236.6 236.2 237.1 226.5 223.0 243.6 265.6 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers 609.9 617.2 652.5 610.2 572.5 50.3 46.2 50.0 49.2 10

 11 Finance companies 516.5 531.9 572.1 554.3 471.9 705.0 687.6 679.8 679.1 11

 Memo:

 12 Credit card loans (3) 856.7 924.4 1002.4 1004.7 916.8 840.0 841.7 846.7 857.6 12

 13 Auto loans 823.1 784.9 801.1 777.2 719.0 713.3 751.0 808.9 878.7 13

 14 Student loans (4) 0.0 556.9 637.0 730.7 831.6 912.4 1012.3 1131.3 1223.0 14

 15 Other consumer credit (5) 640.8 195.7 175.3 138.1 85.4 181.7 150.9 136.7 138.6 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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Historical Annuals, 2005-2013, September 18, 2014 105

L.223 Trade Credit

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total trade payables 2982.6 3172.4 3372.8 3208.0 3216.0 3370.8 3452.5 3593.3 3760.9 1

 2 Household sector 186.3 199.9 214.5 236.7 278.2 248.8 250.0 254.0 255.0 2

 3 Nonfinancial corporate business 1700.5 1812.9 1897.9 1672.7 1590.1 1746.4 1771.6 1854.8 1968.2 3

 4 Nonfinancial noncorporate business 334.5 348.9 374.9 380.7 397.6 427.8 435.7 434.5 441.4 4

 5 State and local governments 482.0 516.2 553.0 591.6 630.5 669.0 707.4 746.2 785.8 5

 6 Federal government 202.6 208.8 238.2 260.7 204.5 209.7 218.5 233.9 250.7 6

 7 Rest of the world 33.6 37.4 48.4 44.4 45.1 51.1 55.1 55.7 45.3 7

 8 Brokers and dealers 43.1 48.3 45.8 21.2 70.1 18.1 14.3 14.2 14.5 8

 9 Total trade receivables 2987.8 3031.4 3277.7 3085.5 2970.9 3132.4 3245.3 3354.9 3520.3 9

 10 Nonfinancial corporate business 2108.2 2095.4 2255.2 2085.7 2054.5 2156.5 2240.3 2324.0 2469.4 10

 11 Nonfinancial noncorporate business 430.9 470.9 525.6 522.7 496.3 533.4 539.2 546.6 558.0 11

 12 State and local governments 142.5 151.3 159.1 143.7 139.1 152.2 154.5 160.3 168.7 12

 13 Federal government 71.0 59.4 60.6 64.7 43.6 42.9 47.7 50.3 48.8 13

 14 Rest of the world 53.3 59.2 80.0 86.5 93.1 111.8 128.8 140.5 144.4 14

 15 Property-casualty insurance companies 82.1 87.0 85.4 86.7 83.0 83.8 87.2 92.0 95.2 15

 16 ABS issuers 99.8 108.3 111.7 95.5 61.3 51.8 47.6 41.2 35.7 16

 17 Discrepancy -5.2 140.9 95.1 122.5 245.1 238.5 207.2 238.4 240.6 17

L.224 Security Credit

Billions of dollars

 1 Total liabilities 893.3 1041.2 1295.0 942.1 936.7 1041.7 1034.2 1131.9 1236.2 1

 2 Household sector 232.4 292.1 325.5 164.8 203.0 278.2 238.9 303.7 339.2 2

 3 Brokers and dealers 660.8 749.1 969.5 777.2 733.7 763.5 795.4 828.2 897.1 3

 4 Total assets 893.3 1041.2 1295.0 942.1 936.7 1041.7 1034.2 1131.9 1236.2 4

 5 Household sector 623.4 700.6 917.0 737.4 701.7 725.2 726.1 757.0 815.5 5

 6 U.S.-chartered depository institutions 21.8 27.9 25.9 23.7 20.4 23.6 35.8 45.0 52.9 6

 7 Foreign banking offices in U.S. 15.5 20.6 26.5 16.1 11.6 14.7 33.5 26.2 28.7 7

 8 Brokers and dealers 232.4 292.1 325.5 164.8 203.0 278.2 238.9 303.7 339.2 8
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106 Historical Annuals, 2005-2013, September 18, 2014

L.225 Life Insurance Reserves

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 1082.6 1163.7 1201.5 1179.8 1242.1 1278.3 1352.0 1359.0 1416.5 1

 2 Federal government 42.7 44.2 45.4 46.4 47.5 48.4 49.7 50.0 50.3 2

 3 Life insurance companies 1039.9 1119.5 1156.1 1133.4 1194.5 1229.9 1302.3 1309.0 1366.3 3

 4 Net change in assets 1082.6 1163.7 1201.5 1179.8 1242.1 1278.3 1352.0 1359.0 1416.5 4

 5 Households 1082.6 1055.2 1076.8 1049.8 1109.2 1137.2 1199.0 1186.1 1232.8 5

 6 U.S.-chartered depository institutions 0.0 93.4 104.3 110.7 111.5 116.0 125.5 138.0 143.8 6

 7 Holding companies 0.0 15.2 20.5 19.3 21.4 25.1 27.6 34.9 39.9 7

L.226 Pension Entitlements

Billions of dollars

 1 Total liabilities 13466.3 14478.7 15262.2 14286.6 15455.1 17031.7 17444.7 18457.8 19886.1 1

 2 Life insurance companies (1) 2004.9 2174.5 2296.8 2054.7 2148.2 2343.2 2384.6 2576.6 2816.9 2

 3 Private pension funds (2) 5435.9 5849.7 6188.8 5333.2 6002.2 6650.1 6753.3 7278.0 8141.8 3

 4 State and local govt. retirement funds 3530.8 3844.9 4062.6 4140.4 4382.3 4879.1 5040.8 5218.3 5384.6 4

 5 Federal government retirement funds (3) 2494.7 2609.5 2714.0 2758.3 2922.5 3159.3 3266.0 3384.9 3542.8 5

 6 Total assets (Households) (4) 13466.3 14478.7 15262.2 14286.6 15455.1 17031.7 17444.7 18457.8 19886.1 6

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs) (table L.226.i), except those at life insurance companies.

L.227 Taxes Payable by Businesses

Billions of dollars

 1 Total taxes payable by all businesses 214.5 237.0 167.7 44.0 40.6 53.1 74.0 79.5 90.9 1

 2 Nonfinancial corporate business 86.2 85.4 35.8 39.0 35.7 42.9 51.7 54.0 44.6 2

 3 Nonfinancial noncorporate business 86.7 95.7 99.5 106.2 99.9 99.2 100.3 102.3 105.4 3

 4 U.S.-chartered depository institutions 29.4 28.0 12.4 -73.6 -66.2 -59.6 -49.1 -47.6 -47.4 4

 5 Property-casualty insurance companies -1.6 9.4 7.0 -21.1 -15.8 -10.1 -14.5 -10.8 8.4 5

 6 Life insurance companies -5.3 -1.3 -4.7 -24.4 -31.4 -28.8 -23.6 -28.3 -30.5 6

 7 Finance companies 16.9 17.0 15.5 15.4 12.7 6.0 6.7 6.7 6.8 7

 8 Brokers and dealers 2.1 2.8 2.2 2.5 5.7 3.6 2.5 3.1 3.7 8

 9 Total business taxes receivable 193.9 210.5 222.4 242.4 250.9 262.1 272.8 279.9 289.6 9

 10 State and local governments 102.3 114.4 117.4 123.0 117.1 117.8 120.0 121.3 123.8 10

 11 Federal government 91.6 96.1 105.0 119.4 133.9 144.3 152.8 158.6 165.8 11

 12 Discrepancy 20.6 26.5 -54.6 -198.4 -210.4 -209.0 -198.8 -200.4 -198.7 12

L.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household equity 8473.0 8908.1 9003.8 7548.8 6301.6 6939.4 7418.3 8086.4 9057.7 1

 2 Nonfinancial noncorporate business 8461.2 8898.4 8991.2 7538.1 6286.8 6923.4 7406.4 8069.1 9040.1 2

 3 Brokers and dealers 11.7 9.7 12.6 10.7 14.8 15.9 11.9 17.3 17.6 3
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Historical Annuals, 2005-2013, September 18, 2014 107

L.229 Direct Investment

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 2651.7 2948.2 3553.1 3748.5 4077.4 4273.6 4599.5 4972.9 5284.0 1

 2 Equity 2463.0 2772.1 3369.1 3574.2 3852.4 4084.8 4405.2 4757.4 5078.6 2

 3 Intercompany debt (2) 188.7 176.0 184.0 174.3 224.9 188.7 194.3 215.5 205.4 3

 4 U.S. parents’ claims 440.6 463.0 510.1 504.2 572.0 586.9 619.1 644.3 664.3 4

 5 Less: U.S. parents’ liabilities 251.9 287.0 326.1 329.9 347.1 398.1 424.8 428.8 458.8 5

 6 Asset: Nonfinancial corporate business 2205.7 2440.7 2892.9 3011.1 3245.1 3402.9 3759.2 4081.0 4370.0 6

 7 U.S.-chartered depository institutions 104.9 95.9 150.3 201.5 261.7 280.1 272.5 283.9 285.3 7

 8 Property-casualty insurance companies 103.3 105.5 121.1 102.6 123.7 99.1 90.2 98.0 108.8 8

 9 Life insurance companies 19.1 20.0 25.6 25.0 28.9 46.3 54.2 67.0 65.5 9

 10 Finance companies 17.7 42.0 177.9 221.0 186.9 206.0 221.8 225.4 228.6 10

 11 Brokers and dealers 201.1 244.1 185.3 187.4 231.0 239.3 201.7 217.5 225.8 11

 Foreign direct investment in U.S.:

 12 Liab.: Nonfinancial corporate business 1549.4 1722.7 1961.9 2050.3 1986.4 2128.7 2230.7 2408.9 2610.3 12

 13 Nonfinancial noncorporate business 3.3 3.6 3.6 3.7 4.8 5.3 6.1 6.6 7.3 13

 14 Foreign banking offices in U.S. 130.2 135.4 94.2 71.7 107.7 120.0 176.6 181.8 181.4 14

 15 Property-casualty insurance companies 60.1 99.9 76.6 51.2 64.7 70.7 73.9 77.1 74.5 15

 16 Life insurance companies 65.8 71.3 68.7 60.3 69.4 84.3 103.6 106.0 97.7 16

 17 Finance companies 38.8 51.1 68.6 78.1 90.0 114.7 91.1 90.9 73.0 17

 18 Brokers and dealers 49.9 61.0 62.6 72.1 64.4 88.5 104.6 110.4 119.5 18

 19 Funding corporations 8.4 9.0 9.6 10.2 10.8 11.4 12.0 12.6 13.2 19

 20 Asset: Rest of the world (1) 1906.0 2154.1 2345.9 2397.4 2398.2 2623.6 2798.7 2994.3 3176.9 20

 21 Equity 1571.7 1756.5 1892.1 1911.5 1916.7 2129.1 2268.3 2475.2 2652.9 21

 22 Intercompany debt 334.3 397.5 453.8 485.9 481.6 494.5 530.4 519.2 523.9 22

 23 U.S. affiliates’ liabilities 491.5 570.1 710.6 760.8 757.7 773.2 806.1 832.2 869.7 23

 24 Less: U.S. affiliates’ claims 157.3 172.6 256.9 274.9 276.1 278.7 275.7 313.0 345.8 24

 Memo:

 Direct investment, asset/liability presentation:

 25 Direct investment assets 3060.9 3407.7 4136.0 4353.3 4700.5 4950.4 5300.0 5714.8 6088.7 25

 26 Equity (line 2) 2463.0 2772.1 3369.1 3574.2 3852.4 4084.8 4405.2 4757.4 5078.6 26

 27 Intercompany debt 597.9 635.6 767.0 779.1 848.1 865.5 894.8 957.3 1010.1 27

 28 U.S. parents’ claims (line 4) 440.6 463.0 510.1 504.2 572.0 586.9 619.1 644.3 664.3 28

 29 U.S. affiliates’ claims (line 24) 157.3 172.6 256.9 274.9 276.1 278.7 275.7 313.0 345.8 29

 30 Direct investment liabilities 2315.2 2613.6 2928.9 3002.2 3021.4 3300.5 3499.2 3736.2 3981.5 30

 31 Equity (line 21) 1571.7 1756.5 1892.1 1911.5 1916.7 2129.1 2268.3 2475.2 2652.9 31

 32 Intercompany debt 743.4 857.1 1036.7 1090.7 1104.7 1171.3 1230.9 1261.0 1328.6 32

 33 U.S. parents’ liabilities (line 5) 251.9 287.0 326.1 329.9 347.1 398.1 424.8 428.8 458.8 33

 34 U.S. affiliates’ liabilities (line 23) 491.5 570.1 710.6 760.8 757.7 773.2 806.1 832.2 869.7 34

 Alternative valuations of direct investment assets:

 U.S. direct investment abroad:

 35 Market value 3638.0 4470.3 5275.0 3102.4 4322.1 4809.6 4514.3 5196.5 6275.4 35

 36 Equity 3449.3 4294.3 5091.0 2928.1 4097.2 4620.9 4320.1 4981.0 6070.0 36

 37 Intercompany debt 188.7 176.0 184.0 174.3 224.9 188.7 194.3 215.5 205.4 37

 38 Historical cost 2241.7 2477.3 2994.0 3232.5 3565.0 3741.9 4050.0 4384.7 4660.9 38

 39 Equity 2053.0 2301.2 2810.0 3058.2 3340.1 3553.2 3855.8 4169.2 4455.5 39

 40 Intercompany debt 188.7 176.0 184.0 174.3 224.9 188.7 194.3 215.5 205.4 40

 Foreign direct investment in U.S.:

 41 Market value 2818.0 3293.1 3551.3 2486.4 2995.5 3422.3 3498.7 3929.1 4985.9 41

 42 Equity 2483.7 2895.5 3097.5 2000.5 2513.9 2927.8 2968.4 3409.9 4462.0 42

 43 Intercompany debt 334.3 397.5 453.8 485.9 481.6 494.5 530.4 519.2 523.9 43

 44 Historical cost 1634.1 1840.5 1993.2 2046.7 2069.4 2280.0 2433.8 2605.8 2764.0 44

 45 Equity 1299.8 1442.9 1539.4 1560.7 1587.9 1785.5 1903.5 2086.6 2240.0 45

 46 Intercompany debt 334.3 397.5 453.8 485.9 481.6 494.5 530.4 519.2 523.9 46

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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108 Historical Annuals, 2005-2013, September 18, 2014

L.230 Total Miscellaneous Financial Claims

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 12195.8 12744.2 13679.6 15723.2 15807.7 15907.9 16567.2 17363.9 17190.4 1

 2 Household sector 22.4 22.8 23.9 27.0 22.1 24.7 24.3 24.9 27.9 2

 3 Nonfinancial corporate business 2584.9 2530.4 2692.1 2877.5 3149.3 3304.4 3559.6 3875.7 4086.7 3

 4 Nonfinancial noncorporate business 857.9 1002.5 1096.4 1210.7 1243.3 1192.4 1226.8 1244.2 1249.0 4

 5 State and local governments 314.0 186.2 178.9 1254.9 1116.9 1343.4 1648.3 1622.2 1204.1 5

 6 Federal government 2386.5 2485.6 2610.9 2719.3 2859.2 3083.1 3189.0 3291.6 3393.7 6

 7 Rest of the world 73.0 116.3 184.2 706.2 187.9 190.6 323.6 183.5 160.2 7

 8 Monetary authority 15.3 18.5 21.0 23.1 29.2 58.4 31.7 33.7 43.5 8

 9 U.S.-chartered depository institutions 1716.6 1832.7 2013.3 2030.5 2286.8 2247.6 2236.1 2446.4 2520.4 9

 10 Foreign banking offices in U.S. 306.8 334.0 402.5 482.7 323.8 293.3 303.4 267.8 234.6 10

 11 Banks in U.S.-affiliated areas 45.2 40.7 28.8 24.9 29.2 23.3 19.4 17.3 14.3 11

 12 Credit unions 11.9 9.2 3.6 4.7 19.4 11.1 12.4 12.7 14.2 12

 13 Property-casualty insurance companies 699.2 715.8 734.5 759.9 754.8 761.2 796.4 813.4 813.1 13

 14 Life insurance companies 950.7 1012.6 1095.9 973.1 1090.8 1160.4 1178.1 1220.3 1280.4 14

 15 Government-sponsored enterprises 138.5 150.5 168.9 207.0 269.2 179.4 130.2 124.1 114.7 15

 16 Finance companies 664.0 664.6 585.8 586.7 483.6 157.3 173.0 142.9 134.9 16

 17 REITs 55.3 63.0 67.6 64.9 59.6 63.7 70.8 96.3 74.6 17

 18 Brokers and dealers 355.6 458.5 495.8 323.8 385.6 394.6 375.1 367.4 408.7 18

 19 Holding companies 217.1 296.3 330.2 424.6 550.9 524.6 484.4 822.3 739.4 19

 20 Funding corporations 781.1 804.2 945.5 1021.6 946.3 894.5 784.6 757.2 676.1 20

 21 Total assets 16140.9 18049.5 19560.0 21218.9 21196.3 21808.8 22677.1 23580.6 23795.0 21

 22 Household sector 608.7 646.1 712.2 766.3 800.9 808.2 878.8 872.7 924.9 22

 23 Nonfinancial corporate business 5963.2 6492.9 6987.9 6352.3 6294.1 6707.4 6782.0 7063.9 7536.1 23

 24 Nonfinancial noncorporate business 1301.8 1683.6 2014.4 2121.9 2029.5 2134.4 2141.8 2186.2 2202.6 24

 25 State and local governments 84.6 91.0 98.3 93.2 118.5 96.3 96.2 104.3 110.5 25

 26 Federal government 135.8 138.9 140.9 112.9 147.8 143.2 145.1 144.0 149.9 26

 27 Monetary authority 18.1 17.0 40.5 569.8 75.9 83.1 225.8 199.5 233.1 27

 28 U.S.-chartered depository institutions 919.7 831.4 900.7 1103.4 901.5 713.2 715.2 603.3 518.3 28

 29 Foreign banking offices in U.S. 34.2 37.5 45.9 48.9 44.5 29.2 44.2 43.9 57.0 29

 30 Banks in U.S.-affiliated areas 5.3 5.9 12.1 11.1 6.5 11.0 11.8 12.0 20.5 30

 31 Credit unions 25.8 30.9 36.0 32.8 33.0 74.1 61.9 62.7 61.1 31

 32 Life insurance companies 243.0 283.4 317.3 354.0 328.7 305.6 353.4 377.0 404.1 32

 33 Private pension funds 520.3 898.1 971.0 1588.5 1542.4 1536.6 1668.9 1582.5 1379.9 33

 34 State and local govt. retirement funds 518.9 436.0 443.3 1459.5 1336.5 1594.4 1890.1 1858.3 1462.9 34

 35 Federal government retirement funds 2305.7 2387.0 2468.7 2551.1 2674.8 2876.6 2964.3 3054.1 3144.5 35

 36 Money market mutual funds 32.8 39.6 69.0 35.2 26.9 23.5 22.7 28.8 31.7 36

 37 Mutual funds 10.7 14.0 16.8 20.0 14.9 2.9 5.7 -27.4 -8.3 37

 38 Government-sponsored enterprises 117.8 114.7 141.7 99.1 100.3 148.6 148.5 152.6 165.6 38

 39 Finance companies 29.0 -23.0 -165.8 -204.6 -142.1 -129.0 -138.7 -168.1 -189.5 39

 40 REITs 51.9 59.7 55.4 54.6 64.8 66.1 74.7 100.4 112.6 40

 41 Brokers and dealers 1001.5 1355.3 1448.3 918.3 910.1 786.0 730.9 639.8 761.4 41

 42 Holding companies 1609.4 1875.8 2054.0 2337.0 3160.6 3129.4 3165.9 3995.3 4008.3 42

 43 Funding corporations 602.8 633.9 751.5 793.5 726.3 667.9 687.6 694.8 707.8 43

 44 Discrepancy -3945.0 -5305.3 -5880.4 -5495.8 -5388.6 -5900.9 -6109.9 -6216.7 -6604.6 44
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Historical Annuals, 2005-2013, September 18, 2014 109

L.231 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 43.2 45.3 46.9 48.3 50.0 52.3 54.9 57.3 59.5 1

 2 Asset: Federal government 43.2 45.3 46.9 48.3 50.0 52.3 54.9 57.3 59.5 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 27.5 3

 4 Asset: U.S.-chartered depository institutions 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 27.5 4

 Equity in government-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 46.7 46.9 56.0 51.8 51.8 49.0 43.1 41.2 41.7 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.5 0.6 0.7 0.4 0.4 0.6 0.5 0.6 0.6 6

 7 Nonfinancial noncorporate (FCS) 4.1 4.3 5.0 6.4 6.3 6.7 7.0 7.2 7.8 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 38.7 38.5 45.5 39.0 39.7 36.7 30.6 28.4 27.8 9

 10 Credit unions (FHLB) 1.8 1.9 2.5 2.8 2.4 2.2 2.9 2.9 2.4 10

 11 Life insurance companies (FHLB) 1.6 1.6 2.2 3.2 2.9 2.9 2.1 2.2 3.2 11

 Holding company net transactions with subsidiaries:

 12 Liab.: U.S.-chartered depository institutions 989.7 1142.9 1256.9 1370.5 1599.5 1632.8 1709.0 1889.2 1937.3 12

 13 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.2 5.2 13

 14 Life insurance companies 35.6 38.3 43.7 31.2 40.5 62.7 72.0 17.2 10.7 14

 15 Finance companies 195.2 198.5 239.9 232.6 209.3 115.0 94.6 91.1 75.4 15

 16 Brokers and dealers 110.2 114.5 57.0 155.2 596.1 626.6 613.5 1060.5 1087.6 16

 17 Rest of the world 27.1 68.4 110.6 101.5 125.1 135.6 166.3 114.7 97.8 17

 18 Asset: Holding companies 1357.8 1562.6 1708.1 1891.0 2570.3 2572.7 2655.4 3184.0 3214.0 18

 NFC investment in finance company subsidiaries:

 19 Liab.: Finance companies 117.0 140.1 81.5 80.5 71.2 60.7 69.1 71.7 86.4 19

 20 Asset: Nonfinancial corporate business 117.0 140.1 81.5 80.5 71.2 60.7 69.1 71.7 86.4 20

 Funding corporations’ investment in subsidiaries:

 21 Liab.: Foreign banking offices in U.S. 188.8 197.3 241.0 276.6 203.1 171.6 137.8 126.0 123.5 21

 22 Brokers and dealers 414.0 436.5 510.5 516.9 523.2 496.4 549.7 568.8 584.3 22

 23 Asset: Funding corporations 602.8 633.9 751.5 793.5 726.3 667.9 687.6 694.8 707.8 23

 Equity investment under Public-Private Inv. Program:

 24 Liab.: Funding corporations 0.0 0.0 0.0 0.0 1.8 7.7 8.8 8.7 8.7 24

 25 Asset: Households (1) 0.0 0.0 0.0 0.0 0.9 3.8 4.4 4.4 4.4 25

 26 Federal government 0.0 0.0 0.0 0.0 0.9 3.8 4.4 4.4 4.4 26

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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110 Historical Annuals, 2005-2013, September 18, 2014

L.232 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 2.6 2.6 26.6 556.4 12.9 2.7 102.5 11.5 2.9 1

 2 Asset: Federal government 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2

 3 Monetary authority (1) 0.0 0.0 24.0 553.7 10.3 0.1 99.8 8.9 0.3 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 4

 5 Asset: Household sector 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 19.2 19.0 20.9 15.5 15.9 14.4 12.6 13.7 10.6 6

 7 Asset: U.S.-chartered depository institutions 19.2 19.0 20.9 15.5 15.9 14.4 12.6 13.7 10.6 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 22.4 22.8 23.9 27.0 22.1 24.7 24.3 24.9 27.9 8

 9 Asset: Life insurance companies 22.4 22.8 23.9 27.0 22.1 24.7 24.3 24.9 27.9 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 217.3 232.1 247.6 265.2 273.6 290.7 305.5 303.7 304.2 10

 11 Accident and health 138.3 149.8 163.3 182.7 192.4 209.4 225.0 222.6 222.8 11

 12 Policy dividend accumulation 42.7 43.5 43.7 40.4 39.2 39.7 37.9 38.3 38.5 12

 13 Contract claims 36.3 38.8 40.6 42.1 42.0 41.6 42.6 42.8 42.8 13

 14 Asset: Household sector 217.3 232.1 247.6 265.2 273.6 290.7 305.5 303.7 304.2 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 699.2 715.8 734.5 759.9 754.8 761.2 796.4 802.1 807.8 15

 16 Asset: Household sector 316.0 320.5 327.3 337.3 346.0 310.8 347.5 329.8 369.5 16

 17 Nonfinancial corporate business 283.9 291.5 299.8 310.9 307.0 318.7 328.8 336.4 329.8 17

 18 Nonfinancial noncorporate business 99.3 103.7 107.4 111.6 101.8 131.7 120.1 135.9 108.5 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 530.9 545.9 585.3 447.4 587.6 619.0 623.3 637.3 682.5 19

 20 Asset: Private pension funds 407.3 406.9 434.9 339.2 453.7 469.4 484.6 503.8 540.3 20

 21 State and local government retirement funds 123.6 139.0 150.4 108.3 133.9 149.6 138.7 133.5 142.2 21

 Pension fund contributions payable:

 22 Liab.: Nonfinancial corporate business 44.8 64.7 69.3 84.0 75.4 90.8 93.8 81.4 80.9 22

 23 Asset: Private pension funds 44.8 64.7 69.3 84.0 75.4 90.8 93.8 81.4 80.9 23

 Securities borrowed (net):

 24 Liab.: Funding corporations 939.7 1242.3 1240.2 887.0 856.8 733.4 658.7 579.5 673.5 24

 25 Asset: Brokers and dealers 939.7 1242.3 1240.2 887.0 856.8 733.4 658.7 579.5 673.5 25

 Nonmarketable government securities:

 26 Liab.: Federal government 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 26

 27 Asset: Federal government retirement funds 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 27

 Retiree health care funds (2):

 28 Liab.: Federal government 75.4 93.5 137.3 163.8 180.4 202.9 221.4 234.8 246.9 28

 29 Asset: Household sector 75.4 93.5 137.3 163.8 180.4 202.9 221.4 234.8 246.9 29

 Claims of pension fund on sponsor (3):

 30 Liab.: Nonfinancial corporate business -30.1 -28.8 -20.8 677.4 497.6 446.5 517.2 389.8 131.4 30

 31 State and local governments 314.0 186.2 178.9 1254.9 1116.9 1343.4 1648.3 1622.2 1204.1 31

 32 Federal government 1422.8 1468.3 1516.8 1535.8 1597.6 1733.7 1750.7 1800.0 1792.1 32

 33 Asset: Private pension funds -30.1 -28.8 -20.8 677.4 497.6 446.5 517.2 389.8 131.4 33

 34 State and local govt. retirement funds 314.0 186.2 178.9 1254.9 1116.9 1343.4 1648.3 1622.2 1204.1 34

 35 Federal government retirement funds 1422.8 1468.3 1516.8 1535.8 1597.6 1733.7 1750.7 1800.0 1792.1 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.

(3) Assets of the household sector.
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Historical Annuals, 2005-2013, September 18, 2014 111

L.233 Unidentified Miscellaneous Financial Claims

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total liabilities 4873.8 4817.2 5304.7 5147.3 5241.9 5064.7 5053.2 5523.7 5727.8 1

 2 Nonfinancial corporate business 2570.2 2494.5 2643.6 2116.1 2576.3 2767.0 2948.6 3404.5 3874.4 2

 3 Nonfinancial noncorporate business 857.9 1002.5 1096.4 1210.7 1243.3 1192.4 1226.8 1244.2 1249.0 3

 4 Federal government 5.4 5.1 4.9 4.3 4.0 3.6 3.2 2.8 2.3 4

 5 Monetary authority 1.8 3.2 2.5 2.1 3.6 31.9 4.8 6.3 16.0 5

 6 U.S.-chartered depository institutions 726.9 689.8 756.4 660.0 687.3 614.7 527.1 557.2 583.1 6

 7 Foreign banking offices in U.S. 117.2 135.8 160.6 205.5 120.4 121.4 165.3 141.4 110.8 7

 8 Banks in U.S.-affiliated areas 45.2 40.7 28.8 24.9 29.2 23.3 19.4 17.3 14.3 8

 9 Credit unions 11.9 9.2 3.6 4.7 19.4 11.1 12.4 12.7 14.2 9

 10 Life insurance companies 166.9 196.3 219.3 229.3 189.1 187.9 177.2 262.1 283.1 10

 11 Government-sponsored enterprises 72.6 84.7 92.0 139.7 201.6 115.9 74.5 69.2 62.4 11

 12 Finance companies 351.8 326.0 264.4 273.7 203.1 -18.4 9.3 -19.9 -26.9 12

 13 REITs 55.3 63.0 67.6 64.9 59.6 63.7 70.8 96.3 74.6 13

 14 Brokers and dealers -168.5 -92.5 -71.7 -348.3 -733.7 -728.3 -788.1 -1261.8 -1263.1 14

 15 Holding companies 217.1 296.3 330.2 424.6 550.9 524.6 484.4 822.3 739.4 15

 16 Funding corporations -158.6 -438.1 -294.7 134.6 87.6 153.5 117.1 168.9 -6.2 16

 17 Total assets 8818.8 10122.5 11185.1 10643.1 10630.5 10965.6 11163.1 11740.4 12332.4 17

 18 Nonfinancial corporate business 5561.7 6060.7 6605.8 5960.5 5915.5 6327.4 6383.6 6655.3 7119.3 18

 19 Nonfinancial noncorporate business 1198.4 1575.6 1902.0 2003.9 1921.3 1996.0 2014.8 2043.1 2086.3 19

 20 State and local governments 84.6 91.0 98.3 93.2 118.5 96.3 96.2 104.3 110.5 20

 21 Federal government 89.9 91.0 91.4 62.0 94.3 84.5 83.2 79.8 83.4 21

 22 Monetary authority 18.1 17.0 16.5 16.1 65.6 83.0 126.0 190.6 232.8 22

 23 U.S.-chartered depository institutions 848.3 758.6 815.8 1027.8 820.3 635.5 645.2 533.8 452.4 23

 24 Foreign banking offices in U.S. 34.2 37.5 45.9 48.9 44.5 29.2 44.2 43.9 57.0 24

 25 Banks in U.S.-affiliated areas 5.3 5.9 12.1 11.1 6.5 11.0 11.8 12.0 20.5 25

 26 Credit unions 24.1 28.9 33.5 30.0 30.6 71.9 59.1 59.8 58.8 26

 27 Life insurance companies 219.0 258.9 291.2 323.8 303.7 278.0 327.0 349.9 373.1 27

 28 Private pension funds 98.3 455.3 487.5 487.9 515.7 529.9 573.3 607.4 627.3 28

 29 State and local govt. retirement funds 81.3 110.8 114.0 96.3 85.7 101.4 103.1 102.6 116.7 29

 30 Mutual funds 10.7 14.0 16.8 20.0 14.9 2.9 5.7 -27.4 -8.3 30

 31 Money market mutual funds 32.8 39.6 69.0 35.2 26.9 23.5 22.7 28.8 31.7 31

 32 Government-sponsored enterprises 117.8 114.7 141.7 99.1 100.3 148.6 148.5 152.6 165.6 32

 33 Finance companies 29.0 -23.0 -165.8 -204.6 -142.1 -129.0 -138.7 -168.1 -189.5 33

 34 REITs 51.9 59.7 55.4 54.6 64.8 66.1 74.7 100.4 112.6 34

 35 Brokers and dealers 61.8 113.0 208.1 31.3 53.2 52.6 72.2 60.3 87.9 35

 36 Holding companies 251.6 313.2 345.9 446.0 590.3 556.7 510.4 811.3 794.3 36

 37 Discrepancy -3945.0 -5305.3 -5880.4 -5495.8 -5388.6 -5900.9 -6109.9 -6216.7 -6604.6 37
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112 Historical Annuals, 2005-2013, September 18, 2014

B.100 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Assets 74048.8 79854.6 81197.0 70804.8 72330.9 76265.0 77272.1 83169.6 92669.2 1

 2 Nonfinancial assets 28532.0 29499.1 28167.5 24756.9 23677.1 23318.2 23347.2 25047.8 27669.2 2

 3 Real estate 24138.7 24889.8 23358.0 19822.7 18720.7 18349.6 18221.5 19790.2 22295.9 3

 4 Households (2,3) 22030.1 22545.6 20682.7 17421.3 16950.9 16375.2 16060.7 17484.5 19631.3 4

 5 Nonprofit organizations 2108.6 2344.1 2675.3 2401.4 1769.8 1974.4 2160.9 2305.7 2664.6 5

 6 Equipment (nonprofits) (4) 206.1 226.0 245.8 264.0 271.9 280.1 293.0 299.7 306.9 6

 7 Intellectual property products (nonprofits) (4) 79.5 82.8 87.6 91.6 96.4 101.8 109.4 117.7 124.1 7

 8 Consumer durable goods (4) 4107.8 4300.5 4476.0 4578.6 4588.1 4586.7 4723.3 4840.1 4942.2 8

 9 Financial assets 45516.7 50355.5 53029.5 46047.9 48653.8 52946.9 53925.0 58121.8 65000.1 9

 10 Deposits 6257.5 6900.3 7560.6 8180.1 8098.0 8071.9 8746.6 9263.4 9630.5 10

 11 Foreign deposits 63.8 69.9 87.7 69.9 62.7 67.3 57.4 49.7 52.5 11

 12 Checkable deposits and currency 285.9 239.7 153.3 295.2 396.1 423.7 752.2 899.1 1035.0 12

 13 Time and savings deposits 4965.0 5484.1 5973.6 6234.6 6326.0 6450.8 6822.2 7190.7 7397.8 13

 14 Money market fund shares 942.7 1106.6 1345.9 1580.5 1313.1 1130.1 1114.9 1123.9 1145.2 14

 15 Credit market instruments 3452.8 3460.2 3987.7 4456.6 4827.7 4912.3 4374.0 4169.1 3848.8 15

 16 Open market paper 98.4 117.5 107.3 6.0 22.7 21.1 19.4 18.8 15.0 16

 17 Treasury securities 425.7 325.8 202.9 184.1 854.0 1126.6 707.0 929.3 949.0 17

 18 Agency- and GSE-backed securities 587.4 613.4 873.9 1056.6 357.4 335.4 300.2 152.7 97.7 18

 19 Municipal securities 1600.6 1635.7 1673.5 1720.8 1827.9 1871.5 1805.9 1661.0 1617.7 19

 20 Corporate and foreign bonds 591.4 556.0 914.2 1253.0 1539.2 1353.1 1343.0 1233.9 1004.6 20

 21 Other loans and advances (5) 8.7 9.1 17.6 29.7 26.8 26.2 23.4 20.9 25.9 21

 22 Mortgages 140.8 123.6 110.7 111.8 110.9 100.1 100.8 86.9 79.8 22

 23 Consumer credit (student loans) 0.0 79.2 87.6 94.6 88.8 78.4 74.5 65.6 59.1 23

 24 Corporate equities (2) 8025.4 10126.0 9911.7 5760.5 7255.5 8679.9 8475.6 9623.9 12451.3 24

 25 Mutual fund shares (6) 3527.1 4080.3 4597.4 3261.8 4104.0 4641.1 4661.8 5705.4 7152.4 25

 26 Security credit 623.4 700.6 917.0 737.4 701.7 725.2 726.1 757.0 815.5 26

 27 Life insurance reserves 1082.6 1055.2 1076.8 1049.8 1109.2 1137.2 1199.0 1186.1 1232.8 27

 28 Pension entitlements (7) 13466.3 14478.7 15262.2 14286.6 15455.1 17031.7 17444.7 18457.8 19886.1 28

 29 Equity in noncorporate business (8) 8473.0 8908.1 9003.8 7548.8 6301.6 6939.4 7418.3 8086.4 9057.7 29

 30 Miscellaneous assets 608.7 646.1 712.2 766.3 800.9 808.2 878.8 872.7 924.9 30

 31 Liabilities 12162.4 13461.4 14394.3 14278.6 14062.1 13781.5 13574.0 13646.1 13801.2 31

 32 Credit market instruments 11721.3 12946.5 13830.4 13850.0 13558.9 13229.8 13060.9 13063.5 13179.2 32

 33 Home mortgages (9) 8912.7 9910.1 10611.7 10579.4 10418.1 9914.2 9698.5 9497.9 9415.9 33

 34 Consumer credit 2320.6 2461.9 2615.7 2650.6 2552.8 2647.4 2755.9 2923.6 3097.9 34

 35 Municipal securities (10) 212.7 229.1 250.2 259.5 265.4 263.2 255.5 241.0 227.8 35

 36 Depository institution loans n.e.c. -16.5 30.9 21.8 26.4 -15.9 61.0 11.5 62.6 92.7 36

 37 Other loans and advances 119.0 123.8 127.0 133.2 133.7 136.1 138.1 139.3 141.3 37

 38 Commercial mortgages (10) 172.8 190.7 204.0 200.9 204.7 207.7 201.4 199.1 203.5 38

 39 Security credit 232.4 292.1 325.5 164.8 203.0 278.2 238.9 303.7 339.2 39

 40 Trade payables (10) 186.3 199.9 214.5 236.7 278.2 248.8 250.0 254.0 255.0 40

 41 Deferred and unpaid life insurance premiums 22.4 22.8 23.9 27.0 22.1 24.7 24.3 24.9 27.9 41

 42 Net worth 61886.4 66393.3 66802.7 56526.2 58268.8 62483.6 63698.1 69523.5 78868.0 42

 Memo:

 Replacement-cost value of structures:

 43 Residential 12243.6 13114.3 13273.8 12985.7 12680.7 12730.1 12845.4 13228.8 14187.3 43

 44 Households 12052.3 12911.9 13067.9 12780.0 12479.0 12526.6 12641.9 13020.5 13967.6 44

 45 Nonprofit organizations 191.3 202.4 205.9 205.6 201.7 203.5 203.4 208.3 219.7 45

 46 Nonresidential (nonprofits) 1183.4 1301.9 1379.8 1458.7 1409.3 1420.7 1464.6 1508.4 1596.2 46

 47 Disposable personal income (SAAR) 9400.8 10036.9 10507.0 10994.4 10942.5 11237.9 11801.4 12384.0 12505.1 47

 Household net worth as percentage of

 48 disposable personal income (SAAR) 658.3 661.5 635.8 514.1 532.5 556.0 539.8 561.4 630.7 48

 Owners’ equity in household real

 49 estate (11) 13117.4 12635.6 10071.0 6842.0 6532.8 6461.0 6362.2 7986.7 10215.4 49

 Owners’ equity as percentage of

 50 household real estate (12) 59.5 56.0 48.7 39.3 38.5 39.5 39.6 45.7 52.0 50

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

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

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

(7) Includes public and private defined benefit and defined contribution pension plans and annuities, including those in IRAs, at life insurance companies. Excludes social security.

(8) Net worth of nonfinancial noncorporate business (table B.103, line 34) and owners’ equity in unincorporated security brokers and dealers.

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

(10) Liabilities of nonprofit organizations.

(11) Line 4 less line 33.

(12) Line 49 divided by line 4.
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Historical Annuals, 2005-2013, September 18, 2014 113

B.102 Balance Sheet of Nonfinancial Corporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 26068.7 28197.7 31172.1 29515.0 27183.5 28957.8 30545.3 32168.0 34941.9 1

 2 Nonfinancial assets 14168.0 15538.3 17419.3 16591.8 13866.0 14941.1 16039.7 16902.4 18561.3 2

 3 Real estate (1) 7924.3 8893.0 10381.9 9360.0 6767.5 7545.7 8275.3 8831.4 10236.1 3

 4 Equipment (2) 3297.8 3513.6 3673.4 3857.2 3793.1 3853.6 4008.0 4138.0 4261.7 4

 5 Intellectual property products (2) 1322.0 1401.1 1492.3 1564.1 1600.7 1669.1 1746.9 1839.4 1916.9 5

 6 Inventories (2) 1623.9 1730.5 1871.7 1810.5 1704.6 1872.7 2009.6 2093.6 2146.6 6

 7 Financial assets 11900.6 12659.5 13752.8 12923.2 13317.5 14016.8 14505.6 15265.6 16380.6 7

 8 Foreign deposits 63.6 49.3 50.3 24.7 31.5 40.6 34.8 35.8 87.8 8

 9 Checkable deposits and currency 268.0 150.7 143.1 84.2 154.9 234.5 264.2 279.4 357.3 9

 10 Time and savings deposits 450.4 497.0 441.3 311.9 488.8 548.7 561.9 598.8 649.5 10

 11 Money market fund shares 352.2 421.3 548.5 727.0 655.5 497.8 462.4 480.6 521.1 11

 12 Security repurchase agreements 14.6 15.5 8.1 7.2 7.9 12.1 12.6 9.7 8.8 12

 13 Credit market instruments 340.4 323.4 247.5 213.0 223.1 229.4 222.3 212.3 169.0 13

 14 Commercial paper 111.0 122.7 69.5 57.3 56.0 68.0 67.9 59.8 38.0 14

 15 Treasury securities 52.1 45.5 38.3 30.5 43.0 48.0 43.0 39.5 40.2 15

 16 Agency- and GSE-backed securities 17.4 15.2 12.8 10.2 14.3 16.0 14.3 13.2 9.4 16

 17 Municipal securities 32.1 28.1 29.2 26.2 27.1 23.9 22.3 24.0 12.1 17

 18 Mortgages 68.3 59.8 41.4 33.6 29.5 28.0 27.4 26.6 25.8 18

 19 Consumer credit 59.6 52.1 56.4 55.2 53.2 45.5 47.4 49.2 43.5 19

 20 Mutual fund shares (1) 134.4 173.2 178.0 106.3 162.0 186.8 165.9 180.1 211.4 20

 21 Trade receivables 2108.2 2095.4 2255.2 2085.7 2054.5 2156.5 2240.3 2324.0 2469.4 21

 22 U.S. direct investment abroad (3) 2205.7 2440.7 2892.9 3011.1 3245.1 3402.9 3759.2 4081.0 4370.0 22

 23 Miscellaneous assets 5963.2 6492.9 6987.9 6352.3 6294.1 6707.4 6782.0 7063.9 7536.1 23

 24 Liabilities 11181.8 11821.0 12915.4 13224.3 12903.6 13226.7 13878.4 14906.7 15827.8 24

 25 Credit market instruments 5260.7 5669.6 6327.6 6584.9 6142.1 6004.4 6264.8 6713.3 7118.0 25

 26 Commercial paper 90.1 112.5 123.8 131.5 58.4 82.9 116.3 130.3 144.5 26

 27 Municipal securities (4) 227.3 280.6 349.0 415.0 452.2 485.4 493.9 509.1 518.5 27

 28 Corporate bonds (3) 2662.6 2737.3 2856.1 2972.6 3188.4 3367.8 3529.5 3853.9 4134.5 28

 29 Depository institution loans n.e.c. 590.9 612.9 715.7 779.9 545.8 477.1 546.0 607.9 654.4 29

 30 Other loans and advances 903.4 1028.4 1316.0 1383.9 1139.0 948.1 1008.3 1036.8 1063.5 30

 31 Mortgages 786.4 897.9 967.1 902.0 758.3 643.0 570.7 575.3 602.5 31

 32 Trade payables 1700.5 1812.9 1897.9 1672.7 1590.1 1746.4 1771.6 1854.8 1968.2 32

 33 Taxes payable 86.2 85.4 35.8 39.0 35.7 42.9 51.7 54.0 44.6 33

 34 Foreign direct investment in U.S. 1549.4 1722.7 1961.9 2050.3 1986.4 2128.7 2230.7 2408.9 2610.3 34

 35 Miscellaneous liabilities 2584.9 2530.4 2692.1 2877.5 3149.3 3304.4 3559.6 3875.7 4086.7 35

 36 Net worth (market value) 14886.9 16376.7 18256.7 16290.7 14279.9 15731.1 16666.9 17261.3 19114.1 36

 Memo:

 Replacement-cost value of structures:

 37 Residential 148.0 159.2 164.9 166.1 163.5 166.3 165.7 168.6 175.0 37

 38 Nonresidential 5883.5 6429.6 6796.8 7287.2 6901.5 7123.9 7425.5 7620.7 7933.5 38

 39 Market value of equities outstanding 12686.6 14602.3 15730.7 10016.6 12512.2 14371.6 14388.7 15994.4 20761.7 39

 40 Debt/net worth (percent) (line 25 divided by line 36) 35.3 34.6 34.7 40.4 43.0 38.2 37.6 38.9 37.2 40

 41 Debt/equities (percent) (line 25 divided by line 39) 41.5 38.8 40.2 65.7 49.1 41.8 43.5 42.0 34.3 41

 42 Equities/net worth (percent) (line 39 divided by line 36) 85.2 89.2 86.2 61.5 87.6 91.4 86.3 92.7 108.6 42

 With nonfinancial assets stated at historical cost:

 43 Assets (sum of lines 7 and 44) 21025.0 22320.9 23954.4 23534.7 23978.6 25006.1 25954.2 27237.1 28824.3 43

 44 Nonfinancial assets 9124.4 9661.5 10201.7 10611.5 10661.2 10989.4 11448.7 11971.4 12443.7 44

 45 Real estate 3308.0 3522.2 3782.5 4044.6 4213.2 4377.1 4537.7 4732.7 4927.8 45

 46 Equipment 3064.7 3219.1 3371.1 3474.4 3445.1 3482.4 3592.0 3727.3 3875.8 46

 47 Intellectual property products 1232.4 1306.0 1384.5 1462.9 1510.0 1570.3 1637.6 1707.5 1781.5 47

 48 Inventories 1519.3 1614.2 1663.6 1629.5 1492.7 1559.5 1681.4 1803.9 1858.7 48

 49 Net worth (historical cost) (line 43 less line 24) 9843.3 10499.9 11039.0 10310.4 11075.0 11779.4 12075.8 12330.3 12996.5 49

 Memo:

 Historical-cost value of structures:

 50 Residential 66.4 71.5 75.8 79.0 80.7 81.6 82.7 84.5 87.2 50

 51 Nonresidential 2865.8 3046.0 3268.8 3521.2 3686.2 3808.7 3949.4 4126.9 4307.9 51

 52 Debt/net worth (percent) (line 25 divided by line 49) 53.4 54.0 57.3 63.9 55.5 51.0 51.9 54.4 54.8 52

 (1) At market value.

 (2) At replacement (current) cost.

 (3) 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.

 (4) 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.
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114 Historical Annuals, 2005-2013, September 18, 2014

B.103 Balance Sheet of Nonfinancial Noncorporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Assets 12641.7 13662.5 14340.7 13333.3 12017.8 12599.0 13161.4 13926.2 15023.1 1

 2 Nonfinancial assets 10044.9 10545.8 10744.6 9639.9 8441.5 8870.7 9416.6 10107.2 11168.7 2

 3 Real estate (1) 9099.8 9538.4 9662.6 8515.7 7332.9 7708.0 8181.1 8832.2 9864.4 3

 4 Residential 5822.7 5914.6 5562.5 4752.3 4273.0 4411.3 4600.6 4976.6 5513.4 4

 5 Nonresidential 3277.1 3623.8 4100.1 3763.4 3059.9 3296.7 3580.5 3855.6 4351.0 5

 6 Equipment (2) 578.9 624.9 664.4 705.6 702.5 715.7 747.2 769.9 791.7 6

 7 Residential (3) 41.7 44.4 45.5 46.6 44.0 42.2 43.9 44.3 43.3 7

 8 Nonresidential 537.2 580.5 618.9 659.0 658.5 673.5 703.3 725.5 748.3 8

 9 Intellectual property products (2) 147.8 159.7 170.4 179.0 183.6 190.2 197.0 206.7 215.3 9

 10 Inventories (2) 218.4 222.8 247.3 239.6 222.5 256.9 291.3 298.5 297.3 10

 11 Financial assets 2596.8 3116.6 3596.1 3693.4 3576.3 3728.3 3744.9 3819.0 3854.4 11

 12 Checkable deposits and currency 374.2 448.8 515.7 519.5 534.4 531.6 529.3 544.2 540.5 12

 13 Time and savings deposits 324.1 344.4 359.3 358.1 353.3 356.2 360.1 365.1 372.7 13

 14 Money market fund shares 69.0 72.2 74.3 75.4 73.7 76.8 77.7 78.7 80.4 14

 15 Credit market instruments 96.8 96.7 106.7 95.8 89.1 95.8 96.8 98.1 100.2 15

 16 Treasury securities 56.2 56.3 59.3 51.8 46.1 48.1 48.6 49.3 50.3 16

 17 Municipal securities 4.4 5.8 5.3 4.9 5.1 5.6 5.7 5.8 5.9 17

 18 Mortgages 36.2 34.6 42.1 39.1 37.9 42.1 42.5 43.1 44.0 18

 19 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Trade receivables 430.9 470.9 525.6 522.7 496.3 533.4 539.2 546.6 558.0 20

 21 Miscellaneous assets 1301.8 1683.6 2014.4 2121.9 2029.5 2134.4 2141.8 2186.2 2202.6 21

 22 Insurance receivables 99.3 103.7 107.4 111.6 101.8 131.7 120.1 135.9 108.5 22

 23 Equity investment in GSEs (4) 4.1 4.3 5.0 6.4 6.3 6.7 7.0 7.2 7.8 23

 24 Other 1198.4 1575.6 1902.0 2003.9 1921.3 1996.0 2014.8 2043.1 2086.3 24

 25 Liabilities 4180.5 4764.1 5349.5 5795.2 5731.0 5675.6 5755.0 5857.1 5983.1 25

 26 Credit market instruments 2898.0 3313.4 3775.1 4094.0 3985.4 3950.9 3986.1 4069.5 4180.0 26

 27 Depository institution loans n.e.c. 670.5 785.8 926.7 1046.2 944.2 927.4 984.2 1072.2 1121.8 27

 28 Other loans and advances 134.6 151.5 165.2 177.4 172.1 170.8 171.3 180.7 186.9 28

 29 Mortgages 2092.9 2376.1 2683.3 2870.3 2869.0 2852.7 2830.6 2816.6 2871.4 29

 30 Trade payables 334.5 348.9 374.9 380.7 397.6 427.8 435.7 434.5 441.4 30

 31 Taxes payable 86.7 95.7 99.5 106.2 99.9 99.2 100.3 102.3 105.4 31

 32 Foreign direct investment in U.S. 3.3 3.6 3.6 3.7 4.8 5.3 6.1 6.6 7.3 32

 33 Miscellaneous liabilities 857.9 1002.5 1096.4 1210.7 1243.3 1192.4 1226.8 1244.2 1249.0 33

 34 Net worth (5) 8461.2 8898.4 8991.2 7538.1 6286.8 6923.4 7406.4 8069.1 9040.1 34

 Memo:

 Replacement-cost value of structures:

 35 Residential 2710.3 2866.0 2910.1 2881.7 2815.4 2839.6 2831.2 2870.4 2989.8 35

 36 Nonresidential 1501.7 1641.7 1740.7 1854.1 1763.6 1783.7 1837.5 1885.8 1971.6 36

 37 Debt/net worth (percent) (6) 34.3 37.2 42.0 54.3 63.4 57.1 53.8 50.4 46.2 37

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 25. Included in table B.100, line 29.

(6) Line 26 divided by line 34.
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Historical Annuals, 2005-2013, September 18, 2014 115

R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Change in net worth (1) 5905.7 4506.9 409.5 -10276.5 1742.6 4214.8 1214.5 5825.4 9344.5 1

 2 Net investment 450.3 329.2 784.0 1369.8 705.6 1028.0 1286.8 1154.2 1076.4 2

 3 Net physical investment 749.0 696.4 545.5 293.1 109.8 134.9 164.8 249.1 328.7 3

 4 Capital expenditures 1908.1 1930.1 1834.7 1613.6 1429.3 1448.9 1501.3 1614.3 1740.4 4

 5 - Consumption of fixed capital 1159.2 1233.8 1289.2 1320.5 1319.5 1314.0 1336.5 1365.2 1411.7 5

 6 Net lending (+) or net borrowing (-) -298.7 -367.2 238.5 1076.7 595.8 893.1 1122.0 905.1 747.7 6

 7 Net acquisition of financial assets 860.7 907.7 1199.5 1087.2 671.6 788.8 1057.1 1180.6 991.2 7

 8 - Net increase in liabilities 1159.4 1274.9 961.0 10.5 75.8 -104.3 -64.9 275.5 243.6 8

 Holding gains on assets

 9 at market value (2) 5424.9 3748.6 -431.1 -11587.7 511.2 2462.9 30.2 4445.6 8123.6 9

 10 Real estate 2877.0 320.7 -1815.6 -3657.8 -1138.9 -395.9 -155.9 1514.6 2386.3 10

 11 Corporate equities 1031.9 2209.5 851.3 -3830.2 1514.1 1645.3 56.9 1389.6 2886.7 11

 12 Mutual fund shares 38.9 335.3 269.6 -1313.1 466.0 255.3 -268.7 326.9 804.5 12

 13 Equity in noncorporate business 1205.7 443.5 144.1 -1147.6 -1147.1 462.8 532.8 675.2 1013.7 13

 14 Life insurance reserves 7.2 15.5 3.4 -86.9 34.8 21.7 -7.4 18.9 27.5 14

 15 Pension entitlements 264.2 424.0 116.1 -1552.2 782.7 474.6 -127.3 520.5 1005.0 15

 16 Equity investment under PPIP 0.0 0.0 0.0 0.0 -0.3 -1.0 -0.2 -0.1 0.0 16

 Holding gains on assets

 17 at current cost (2) -46.8 -48.3 -59.0 -34.5 -47.4 -91.1 22.4 -38.9 -91.1 17

 18 Consumer durable goods -44.1 -46.9 -55.6 -32.0 -40.8 -88.3 17.7 -41.5 -92.2 18

 19 Equipment -2.6 -0.6 -3.1 -1.3 -4.7 -2.4 2.5 -0.1 -0.3 19

 20 Intellectual property products -0.1 -0.8 -0.3 -1.2 -2.0 -0.4 2.2 2.8 1.4 20

 21 Other volume changes (3) 77.3 477.4 115.6 -24.1 573.2 815.1 -124.8 264.5 235.6 21

 Memo:

 22 Net worth outstanding (4) 61886.4 66393.3 66802.7 56526.2 58268.8 62483.6 63698.1 69523.5 78868.0 22

 23 Disposable personal income 9400.8 10036.9 10507.0 10994.4 10942.5 11237.9 11801.4 12384.0 12505.1 23

(1) Sum of net investment (line 2), holding gains (lines 9 and 17), and other volume changes (line 21).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.100, line 42.
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R.102 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Change in net worth (1) 1401.0 1489.8 1880.0 -1966.0 -2010.8 1451.3 935.8 594.4 1852.8 1

 2 Net investment -6.7 -241.1 -528.1 -963.3 419.7 74.0 -595.2 -563.9 -292.0 2

 3 Net physical investment 314.4 394.8 393.1 304.1 -76.3 184.0 262.4 305.3 293.5 3

 4 Capital expenditures 1191.7 1337.3 1394.4 1360.0 1020.8 1235.4 1331.9 1478.0 1525.8 4

 5 - Consumption of fixed capital 909.4 978.2 1040.8 1092.9 1090.4 1092.4 1137.8 1182.2 1228.9 5

 6 - Inventory valuation adjustment -32.1 -35.7 -39.5 -37.0 6.7 -41.0 -68.3 -9.5 3.3 6

 7 Net lending (+) or net borrowing (-) -20.9 -139.0 -208.2 -947.7 548.5 145.2 -400.9 -509.7 -212.2 7

 8 Net acquisition of financial assets 944.5 700.1 1072.8 -608.8 299.8 632.7 493.4 686.9 932.0 8

 9 - Net increase in liabilities 965.4 839.1 1281.0 338.9 -248.7 487.6 894.3 1196.6 1144.2 9

 10 Net corporate equity issues -300.2 -496.9 -713.0 -319.6 -52.5 -255.1 -456.7 -359.5 -373.3 10

 Holding gains on assets

 11 at market value (2) 819.5 888.0 1353.1 -1208.0 -2626.0 738.2 676.8 492.6 1367.8 11

 12 Real estate 811.4 872.8 1343.4 -1152.8 -2646.4 724.6 684.9 478.3 1337.3 12

 13 Mutual fund shares 8.1 15.2 9.7 -55.2 20.4 13.6 -8.1 14.3 30.5 13

 Holding gains on assets less

 14 liabilities at current cost (2) 165.9 135.3 241.2 1.4 151.3 1.9 181.2 84.2 11.6 14

 15 Equipment 45.0 70.9 22.6 99.9 -16.1 41.1 76.6 30.1 8.6 15

 16 Intellectual property products 27.9 20.5 30.2 13.2 3.1 22.5 27.9 43.5 26.1 16

 17 Inventories (3) 47.7 9.2 70.4 -68.4 31.6 69.1 33.7 12.7 -0.3 17

 18 Direct investment abroad 86.3 15.9 145.1 -144.4 -35.7 -145.6 -47.6 5.9 -28.4 18

 19 - Foreign direct investment in U.S. 41.0 -18.8 27.1 -101.2 -168.5 -14.8 -90.7 8.1 -5.7 19

 20 Other volume changes (4) 422.2 707.6 813.8 203.9 44.1 637.1 673.0 581.5 765.4 20

 Memo:

 21 Net worth outstanding (5) 14886.9 16376.7 18256.7 16290.7 14279.9 15731.1 16666.9 17261.3 19114.1 21

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.102, line 36.
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Historical Annuals, 2005-2013, September 18, 2014 117

R.103 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Change in net worth (1) 1125.3 437.2 92.8 -1453.1 -1251.3 636.6 483.0 662.7 971.0 1

 2 Net capital transfers paid -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 2

 3 Net investment -41.1 -1.6 -53.5 -318.1 -106.1 166.7 -57.0 -7.2 -43.0 3

 4 Net physical investment 64.4 61.0 53.8 36.7 -42.7 -25.7 12.6 27.8 51.9 4

 5 Capital expenditures 289.0 304.6 311.4 305.7 227.9 245.1 281.7 303.7 337.9 5

 6 - Consumption of fixed capital 224.5 243.6 257.6 269.0 270.7 270.9 269.1 275.9 286.0 6

 7 Net lending (+) or net borrowing (-) -51.4 -61.0 -53.8 -33.4 48.7 33.5 -11.0 -22.9 -51.9 7

 8 Net acquisition of financial assets 437.3 519.9 479.5 97.3 -117.1 152.0 16.6 74.1 35.4 8

 9 - Net increase in liabilities 488.7 580.9 533.3 130.7 -165.8 118.5 27.6 97.0 87.3 9

 10 Proprietor’s net investment (2) -54.2 -1.6 -53.5 -321.4 -112.1 158.9 -58.6 -12.2 -43.0 10

 11 Holding gains on real estate (3) 1148.5 399.1 83.4 -1179.5 -1187.1 390.8 482.6 649.4 1015.5 11

 12 Residential 803.3 63.8 -370.5 -811.1 -469.3 155.2 203.8 389.6 535.1 12

 13 Nonresidential 345.2 335.4 453.9 -368.5 -717.9 235.6 278.8 259.9 480.4 13

 14 Holding gains on assets at current cost (3) 42.4 39.6 61.3 42.3 30.4 64.0 49.9 22.2 -6.1 14

 15 Residential equipment 1.1 0.7 -0.5 0.1 -2.7 -2.3 1.0 -0.4 -2.1 15

 16 Nonresidential equipment 26.0 30.6 29.0 38.4 24.3 26.5 17.8 11.7 9.3 16

 17 Intellectual property products 10.5 10.4 11.9 9.4 10.2 9.3 4.2 6.6 5.4 17

 18 Inventories 5.0 -0.9 21.2 -5.4 -0.3 30.7 27.6 4.1 -18.5 18

 19 - Foreign direct investment in U.S. 0.2 1.2 0.2 0.3 1.0 0.2 0.8 -0.1 0.2 19

 20 Other volume changes (4) -11.4 0.0 1.5 5.6 17.5 22.9 9.1 3.3 4.5 20

 Memo:

 21 Net worth outstanding (5) 8461.2 8898.4 8991.2 7538.1 6286.8 6923.4 7406.4 8069.1 9040.1 21

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Shown on table F.103, line 31.

(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 34.
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118 Historical Annuals, 2005-2013, September 18, 2014

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

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Assets 74048.8 79854.6 81197.0 70804.8 72330.9 76265.0 77272.1 83169.6 92669.2 1

 2 Nonfinancial assets 28532.0 29499.1 28167.5 24756.9 23677.1 23318.2 23347.2 25047.8 27669.2 2

 3 Financial assets 45516.7 50355.5 53029.5 46047.9 48653.8 52946.9 53925.0 58121.8 65000.1 3

 4 Deposits 6257.5 6900.3 7560.6 8180.1 8098.0 8071.9 8746.6 9263.4 9630.5 4

 5 Credit market instruments 3452.8 3460.2 3987.7 4456.6 4827.7 4912.3 4374.0 4169.1 3848.8 5

 6 Equity shares at market value 14040.4 16956.7 17354.8 10268.2 13134.3 15462.6 14927.6 17048.5 22076.5 6

 7 Directly held 8025.4 10126.0 9911.7 5760.5 7255.5 8679.9 8475.6 9623.9 12451.3 7

 8 Indirectly held 6015.0 6830.7 7443.0 4507.7 5878.8 6782.7 6451.9 7424.6 9625.1 8

 9 Life insurance companies 1140.1 1334.7 1466.8 956.9 1220.3 1420.5 1395.7 1556.5 1825.5 9

 10 Private pension funds (1) 2121.9 2243.0 2356.3 1476.7 1877.8 2178.5 2088.6 2364.1 3063.1 10

 11 State and local govt. retirement funds (1) 223.8 254.7 273.3 176.1 222.6 247.5 221.5 239.9 296.4 11

 12 Federal govt. retirement funds (1) 93.1 116.7 127.8 73.2 105.3 128.5 124.0 138.3 195.0 12

 13 Mutual funds 2436.2 2881.6 3218.8 1824.7 2452.8 2807.6 2622.2 3125.8 4245.2 13

 14 Other 21766.0 23038.2 24126.4 23143.0 22593.8 24500.1 25876.8 27640.8 29444.3 14

 15 Liabilities 12162.4 13461.4 14394.3 14278.6 14062.1 13781.5 13574.0 13646.1 13801.2 15

 16 Net worth 61886.4 66393.3 66802.7 56526.2 58268.8 62483.6 63698.1 69523.5 78868.0 16

 Memo:

 Equity shares (line 6) as a percent of

 17 Total assets (line 1) 19.0 21.2 21.4 14.5 18.2 20.3 19.3 20.5 23.8 17

 18 Financial assets (line 3) 30.8 33.7 32.7 22.3 27.0 29.2 27.7 29.3 34.0 18

(1) Defined contribution plans. Assets held by defined benefit pension funds are not considered assets of the household sector. Defined benefit pension entitlements are included in line 14.
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Historical Annuals, 2005-2013, September 18, 2014 119

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

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Current receipts, NIPA basis 3663.5 4001.8 4202.4 4041.8 3689.0 3885.0 4077.6 4301.0 4788.6 1

 2 Personal current taxes 1208.5 1352.1 1487.9 1435.2 1144.9 1191.5 1400.6 1503.7 1661.8 2

 3 Taxes on production and imports 934.5 991.9 1034.6 1041.9 1026.1 1057.1 1102.6 1132.0 1162.4 3

 4 Taxes on corporate income 395.9 454.3 420.7 281.1 246.0 346.3 349.6 422.7 440.2 4

 5 Taxes from the rest of the world 12.1 14.6 15.3 18.8 14.8 15.7 16.7 18.0 19.2 5

 6 Contributions for govt. social insurance 878.0 927.2 966.1 993.1 969.4 989.0 922.2 955.8 1109.9 6

 7 Income receipts on assets 115.8 136.1 151.3 139.6 136.3 137.2 135.6 132.3 244.4 7

 8 Current transfer receipts 125.0 134.9 142.9 153.3 172.0 171.1 174.7 161.8 180.4 8

 9 Current surplus of government enterprises -6.4 -9.3 -16.4 -21.2 -20.6 -22.9 -24.5 -25.3 -29.6 9

 10 Current expenditures, NIPA basis 4034.9 4268.3 4540.8 4840.8 5209.7 5451.0 5537.6 5612.7 5662.9 10

 11 Consumption expenditures 1980.0 2089.8 2209.7 2368.6 2442.1 2522.2 2530.9 2549.7 2547.6 11

 12 Government social benefits 1497.5 1600.6 1705.5 1862.8 2117.5 2250.5 2274.8 2325.7 2391.1 12

 13 Other current transfer payments 40.2 33.9 41.2 41.9 49.4 49.7 55.6 48.8 46.4 13

 14 Interest payments 456.2 492.4 529.8 515.0 542.4 572.7 616.4 630.4 617.7 14

 15 Subsidies 60.9 51.5 54.6 52.6 58.3 55.9 60.1 58.0 60.2 15

 16 Net saving, NIPA basis -371.3 -266.4 -338.4 -799.0 -1520.8 -1566.0 -1460.1 -1311.7 -874.3 16

 17 + Consumption of fixed capital 346.7 371.0 399.4 426.5 442.7 458.1 479.6 496.0 506.4 17

 18 - Insurance and pension fund reserves (1) 0.7 0.1 0.1 -0.6 0.5 -1.7 -0.4 -1.4 -1.2 18

 19 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.7 4.6 4.7 4.8 5.0 4.9 4.4 4.6 5.4 19

 20 - Net capital transfers (2) 10.0 -14.6 -6.4 -13.3 -3.4 8.1 7.6 5.8 -13.2 20

 21 = Gross saving less net capital transfers -40.0 114.4 62.5 -363.5 -1080.1 -1119.3 -992.1 -824.7 -358.8 21

 22 Gross investment 121.4 234.3 152.1 -482.3 -1086.3 -1062.1 -1021.4 -727.4 -333.2 22

 23 Fixed investment 513.6 552.3 592.2 634.6 647.0 651.8 637.9 619.4 596.3 23

 24 Nonproduced nonfinancial assets 8.0 -3.4 10.3 -6.6 3.4 9.6 8.3 6.8 6.5 24

 25 Net lending (+) or net borrowing (-) -400.3 -314.7 -450.4 -1110.4 -1736.8 -1723.5 -1667.6 -1353.6 -936.1 25

 26 Net acquisition of financial assets 176.7 132.4 162.5 524.0 271.2 348.1 -132.7 185.0 249.3 26

 27 U.S. official reserve assets -14.4 -2.7 -0.4 4.2 51.9 1.6 16.2 4.3 -3.3 27

 28 Checkable deposits and currency 27.9 2.7 24.8 321.4 -154.7 154.5 -241.0 -2.7 76.3 28

 29 Time and savings deposits 2.0 17.3 34.0 16.6 10.3 -5.8 15.3 19.7 11.9 29

 30 Money market fund shares 13.6 15.4 18.0 2.8 10.0 14.1 3.7 7.9 4.7 30

 31 Security repurchase agreements 5.7 5.7 6.4 -11.9 -4.1 -1.1 -3.4 6.7 4.2 31

 32 Credit market instruments 59.3 73.2 84.3 44.0 292.9 143.2 1.6 112.0 108.5 32

 33 Open market paper -0.1 -1.4 -2.2 -21.9 -39.0 13.2 -11.1 -5.9 -8.1 33

 34 Agency- and GSE-backed securities (3) 35.7 39.1 45.1 36.7 152.3 -23.5 -125.0 -33.4 -13.8 34

 35 Municipal securities 1.2 1.4 1.7 0.4 1.0 1.4 0.4 0.5 0.2 35

 36 Corporate and foreign bonds 11.5 12.7 14.6 -5.4 4.1 8.1 -0.6 5.8 2.4 36

 37 Mortgages 17.0 19.8 21.1 9.5 21.2 8.1 5.5 11.0 8.1 37

 38 Consumer credit 3.7 1.6 7.0 19.5 87.9 133.1 128.5 132.1 113.1 38

 39 Other loans and advances (4) -9.9 -0.0 -3.0 5.2 65.4 2.8 3.9 2.0 6.7 39

 40 Corporate equities 4.4 4.5 5.1 248.6 -1.7 24.0 37.8 -10.0 -3.5 40

 41 Mutual fund shares 3.5 3.9 4.5 -0.6 1.7 2.9 0.3 1.6 0.7 41

 42 Trade receivables 26.6 -2.7 9.0 -11.2 -25.7 12.4 7.1 8.4 6.9 42

 43 Taxes receivable 40.3 5.6 -32.4 -56.8 30.1 28.0 27.6 29.9 30.9 43

 44 Miscellaneous assets 7.9 9.5 9.4 -33.1 60.5 -25.8 1.9 7.1 12.1 44

 45 Net increase in liabilities 577.0 447.1 612.9 1634.4 2008.0 2071.6 1534.8 1538.7 1185.4 45

 46 SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 46

 47 SDR certificates 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 47

 48 Treasury currency 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 0.0 -0.4 48

 49 Credit market instruments 340.6 225.3 305.3 1302.3 1573.0 1641.1 1046.1 1088.3 734.2 49

 50 U.S. savings securities 0.7 -2.7 -6.0 -2.4 -2.8 -3.3 -2.7 -2.8 -3.3 50

 51 Treasury bills and other Treasury securities (4) 199.3 128.0 165.6 1287.3 1463.5 1575.0 1101.3 1097.1 777.3 51

 52 Budget agency securities -0.4 -0.3 -0.4 0.2 0.1 0.7 1.1 -0.4 -0.4 52

 53 Municipal securities 141.1 100.3 146.0 17.1 112.2 68.7 -53.6 -5.7 -39.4 53

 54 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Trade payables 65.6 40.5 66.1 61.2 -17.3 43.7 47.2 54.2 56.5 55

 56 Insurance reserves 1.1 1.5 1.2 1.0 1.1 0.9 1.3 0.3 0.3 56

 57 Miscellaneous liabilities (5) 168.9 179.2 241.1 270.8 400.9 386.2 440.3 395.9 394.9 57

 58 Discrepancy -161.4 -119.9 -89.6 118.9 6.2 -57.2 29.2 -97.2 -25.6 58

 Memo:

 59 Net govt. saving less fixed investment (6) -885.0 -818.8 -930.6 -1433.7 -2167.8 -2217.8 -2097.9 -1931.1 -1470.6 59

 60 Adjustment between NIPA and FOF (7) 484.7 504.1 480.2 323.3 431.0 494.3 430.4 577.5 534.5 60

 61 Items to be financed (8) -400.3 -314.7 -450.4 -1110.4 -1736.8 -1723.5 -1667.6 -1353.6 -936.1 61

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

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

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

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

(4) Excludes transactions with state and local governments.

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

 and foreign service retirement and disability fund.

(6) Line 16 less line 23.

(7) Line 17 less the sum of lines 18, 19, 20, 24, and 58.

(8) Line 59 plus line 60.
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120 Historical Annuals, 2005-2013, September 18, 2014

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

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 2438.0 2616.3 2828.5 3298.4 3456.5 3766.1 3582.9 3776.3 4042.3 1

 2 U.S. official reserve assets 35.1 34.2 36.0 41.6 94.3 95.1 110.9 114.2 109.8 2

 3 Checkable deposits and currency 103.1 104.7 128.0 447.7 292.9 446.9 205.8 209.4 286.9 3

 4 Time and savings deposits 170.2 187.5 221.5 238.1 248.4 242.6 257.9 291.5 303.5 4

 5 Money market fund shares 89.9 105.3 123.3 126.1 136.1 150.2 154.0 161.9 166.6 5

 6 Security repurchase agreements 130.0 135.7 142.1 130.2 126.1 125.0 121.6 128.3 132.5 6

 7 Credit market instruments 1125.2 1215.6 1299.5 1341.8 1631.2 1774.9 1774.2 1884.3 1991.7 7

 8 Open market paper 153.3 151.9 149.8 127.9 88.9 102.1 91.0 85.1 76.9 8

 9 Agency- and GSE-backed securities (1) 413.4 452.6 497.6 534.3 686.6 663.1 538.1 504.7 490.9 9

 10 Municipal securities 6.9 8.3 10.0 10.4 11.5 12.9 13.2 13.7 13.9 10

 11 Corporate and foreign bonds 131.5 144.1 158.7 153.3 157.3 165.5 164.9 170.7 173.1 11

 12 Mortgages 235.5 255.3 276.0 283.7 301.4 310.1 313.3 322.3 329.3 12

 13 Consumer credit 89.8 108.7 115.7 135.1 223.1 356.2 484.7 616.8 729.8 13

 14 Other loans and advances (2) 94.7 94.7 91.7 97.0 162.3 165.1 169.0 171.0 177.7 14

 15 Corporate equities 116.0 132.9 141.7 279.7 179.1 176.2 183.0 180.6 202.7 15

 16 Mutual fund shares 40.7 49.1 55.0 36.3 48.5 58.4 59.3 67.3 81.2 16

 17 Trade receivables 213.4 210.7 219.7 208.5 182.8 195.1 202.2 210.6 217.5 17

 18 Taxes receivable 193.9 210.5 222.4 242.4 250.9 262.1 272.8 279.9 289.6 18

 19 Miscellaneous assets 220.4 229.9 239.2 206.1 266.3 239.5 241.3 248.3 260.4 19

 20 Total liabilities 10233.3 10472.8 10963.1 13510.9 15120.1 17254.9 18760.1 19979.4 20454.0 20

 21 SDR allocations 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 54.4 21

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

 23 Treasury currency 27.5 28.1 27.4 26.6 26.2 25.9 25.9 25.9 25.6 23

 24 Credit market instruments 6768.8 6994.1 7299.4 8601.6 10174.7 11815.7 12861.9 13950.1 14684.3 24

 25 U.S. savings securities 205.2 202.4 196.5 194.1 191.3 188.0 185.3 182.5 179.2 25

 26 Treasury bills and other Treasury securities (3) 3960.6 4088.6 4254.2 5541.5 7005.0 8580.0 9681.3 10778.4 11555.7 26

 27 Budget agency securities 23.8 23.5 23.1 23.3 23.5 24.2 25.3 24.9 24.5 27

 28 Municipal securities 2579.2 2679.6 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 2924.9 28

 29 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Trade payables 684.6 725.1 791.2 852.3 835.0 878.7 925.9 980.0 1036.5 30

 31 Insurance reserves 42.7 44.2 45.4 46.4 47.5 48.4 49.7 50.0 50.3 31

 32 Miscellaneous liabilities (4) 2700.5 2671.7 2789.8 3974.2 3976.1 4426.6 4837.3 4913.9 4597.7 32

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

(2) Excludes loans to state and local governments.

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

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

 and foreign service retirement and disability fund.
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Historical Annuals, 2005-2013, September 18, 2014 121

F.115.g Life Insurance Companies: General Accounts

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net acquisition of financial assets 101.0 80.1 78.5 132.8 92.1 126.9 176.4 56.5 84.6 1

 2 Checkable deposits and currency -4.1 5.6 3.5 21.8 -27.4 -2.0 3.0 1.4 -4.8 2

 3 Money market fund shares -3.7 9.7 -1.6 17.5 -5.5 -12.7 7.9 -1.4 -5.9 3

 4 Security repurchase agreements -1.0 -0.1 0.2 5.2 2.2 0.7 -0.8 -1.6 -0.0 4

 5 Credit market instruments 109.8 45.6 67.0 12.5 139.0 111.7 122.4 37.9 70.1 5

 6 Open market paper -4.3 2.1 5.1 0.1 15.5 -12.0 -12.6 15.9 1.4 6

 7 Treasury securities 14.6 -9.1 -13.8 36.3 26.1 15.2 10.3 1.3 -11.3 7

 8 Agency- and GSE-backed securities 9.0 -2.8 2.2 -36.5 2.7 -5.6 -1.5 -4.9 -6.6 8

 9 Municipal securities 2.4 3.8 4.6 3.0 25.9 39.5 9.2 9.0 9.2 9

 10 Corporate and foreign bonds 72.1 24.2 33.4 -22.5 93.4 83.4 93.3 1.6 57.0 10

 11 Other loans and advances 5.1 9.8 13.3 20.2 -12.6 -0.2 7.9 1.9 3.5 11

 12 Mortgages 10.9 17.5 22.3 12.0 -12.0 -8.6 15.8 13.1 16.9 12

 13 Corporate equities -3.6 3.2 6.7 5.1 1.5 4.0 0.3 -2.5 0.8 13

 14 Mutual fund shares -0.5 -0.3 0.8 -1.8 -0.1 -0.1 0.7 0.2 -0.2 14

 15 U.S. direct investment abroad 1.4 0.8 5.8 4.6 1.6 1.9 3.3 5.2 1.2 15

 16 Miscellaneous assets 2.6 15.5 -3.9 67.8 -19.2 23.4 39.7 17.3 23.4 16

 17 Net increase in liabilities 86.1 55.3 34.4 122.3 12.4 91.2 151.2 17.8 68.7 17

 18 Security repurchase agreements 7.4 0.3 -1.1 -7.3 -0.5 -2.2 0.1 3.1 -0.8 18

 19 Corporate equity issues -8.0 -20.0 -30.6 -10.7 -0.9 -4.8 -11.5 -9.9 -9.2 19

 20 Other loans and advances 0.4 2.7 14.5 26.2 -6.6 -3.2 1.8 4.8 7.8 20

 21 Life insurance reserves 34.6 25.7 12.6 53.0 36.8 32.0 73.0 -6.2 28.3 21

 22 Pension entitlements (1) 36.4 -45.9 -0.8 126.6 -122.7 21.5 36.0 9.6 21.8 22

 23 Taxes payable (net) -2.6 4.0 -3.4 -19.7 -7.0 2.6 5.2 -4.6 -2.3 23

 24 Foreign direct investment in U.S. 0.4 14.4 -1.0 12.5 11.1 6.3 -5.4 1.4 5.1 24

 25 Miscellaneous liabilities 17.4 74.2 44.1 -58.4 102.3 39.1 52.0 19.7 17.9 25

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 25).

F.115.s Life Insurance Companies: Separate Accounts

Billions of dollars

 1 Net acquisition of financial assets 72.9 144.8 161.9 33.2 24.3 54.6 52.6 70.5 18.1 1

 2 Checkable deposits and currency -1.4 2.7 -1.3 2.6 -4.7 3.0 -0.9 1.3 -4.4 2

 3 Credit market instruments 6.4 21.9 17.8 -0.9 0.8 39.9 3.0 36.4 7.3 3

 4 Open market paper 1.3 2.2 8.0 -3.5 -4.0 3.1 1.4 -2.0 1.8 4

 5 Treasury securities -1.1 1.5 -3.5 -1.1 1.6 8.0 8.5 4.2 -0.9 5

 6 Agency- and GSE-backed securities 2.4 11.6 3.3 19.8 3.1 9.6 -0.0 -8.5 -0.2 6

 7 Municipal securities 0.0 0.2 0.2 2.7 0.2 -0.3 0.2 0.7 0.9 7

 8 Corporate and foreign bonds 2.6 5.5 9.7 -23.0 4.2 19.5 -6.2 43.3 3.8 8

 9 Other loans and advances -0.0 0.0 -0.0 0.0 -0.0 -0.0 -0.0 -0.1 0.0 9

 10 Mortgages 1.2 0.8 0.1 4.3 -4.3 -0.0 -0.8 -1.1 1.9 10

 11 Corporate equities 69.4 68.1 77.3 76.7 31.9 41.6 37.5 17.7 12.6 11

 12 Mutual fund shares -9.4 27.2 30.4 -8.9 0.1 1.1 0.4 1.1 1.5 12

 13 Miscellaneous assets 7.9 24.9 37.7 -36.3 -3.8 -31.0 12.7 13.9 1.0 13

 14 Net increase in liabilities 74.8 145.9 163.2 30.8 19.8 53.8 52.5 72.7 18.5 14

 15 Life insurance reserves -20.6 38.5 20.6 11.1 -10.5 -18.4 6.9 -5.9 1.4 15

 16 Pension entitlements (1) 83.9 141.7 107.7 41.3 43.2 51.1 49.2 70.7 16.4 16

 17 Miscellaneous liabilities 11.5 -34.2 34.9 -21.6 -12.8 21.1 -3.5 7.9 0.7 17

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 17).
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122 Historical Annuals, 2005-2013, September 18, 2014

L.115.g Life Insurance Companies: General Accounts

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 2896.8 2984.2 3065.2 3157.2 3208.3 3335.5 3512.5 3570.3 3657.0 1

 2 Checkable deposits and currency 30.8 36.5 40.0 61.8 34.4 32.4 35.3 36.7 31.9 2

 3 Money market fund shares 13.5 23.3 21.6 39.2 33.7 21.0 28.8 27.5 21.6 3

 4 Security repurchase agreements 2.6 2.6 2.7 8.0 10.2 10.9 10.1 8.5 8.5 4

 5 Credit market instruments 2546.1 2556.7 2623.7 2636.2 2775.3 2887.0 3009.3 3047.3 3117.3 5

 6 Open market paper 10.4 12.5 17.6 17.7 33.2 21.2 8.6 24.5 25.9 6

 7 Treasury securities 74.2 65.1 51.3 87.6 113.7 128.9 139.2 140.5 129.2 7

 8 Agency- and GSE-backed securities 323.6 320.8 323.0 286.5 289.2 283.5 282.0 277.1 270.5 8

 9 Municipal securities 31.5 35.3 39.9 42.9 68.8 108.3 117.5 126.6 135.7 9

 10 Corporate and foreign bonds 1708.2 1697.4 1730.8 1708.3 1814.3 1897.7 1991.0 1992.6 2049.6 10

 11 Other loans and advances 122.2 132.0 145.3 165.5 140.4 140.2 148.1 150.0 153.6 11

 12 Mortgages 276.0 293.5 315.8 327.8 315.7 307.1 322.9 336.0 352.8 12

 13 Corporate equities 90.5 135.7 144.7 110.1 70.3 74.3 75.3 74.0 76.5 13

 14 Mutual fund shares 4.1 4.2 5.2 2.2 2.4 2.6 3.1 3.4 3.7 14

 15 U.S. direct investment abroad 19.1 20.0 25.6 25.0 28.9 46.3 54.2 67.0 65.5 15

 16 Miscellaneous assets 190.0 205.4 201.7 274.8 253.2 261.2 296.3 305.9 332.0 16

 17 Total liabilities 2624.9 2700.3 2765.3 2898.3 2911.6 3007.6 3170.3 3198.0 3275.9 17

 18 Security repurchase agreements 20.9 21.2 20.2 12.9 12.4 10.3 10.4 13.5 12.7 18

 19 Other loans and advances 11.5 14.2 28.7 54.9 48.3 45.1 46.8 51.6 59.4 19

 20 Life insurance reserves 841.4 867.1 879.7 932.7 969.5 1001.5 1074.5 1068.3 1096.6 20

 21 Pension entitlements (1) 1035.1 989.2 988.4 1115.0 992.3 1013.7 1049.7 1059.3 1081.1 21

 22 Taxes payable (net) -5.3 -1.3 -4.7 -24.4 -31.4 -28.8 -23.6 -28.3 -30.5 22

 23 Foreign direct investment in U.S. 65.8 71.3 68.7 60.3 69.4 84.3 103.6 106.0 97.7 23

 24 Miscellaneous liabilities 655.5 738.6 784.3 746.8 851.1 881.6 908.9 927.6 959.0 24

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 24).

L.115.s Life Insurance Companies: Separate Accounts

Billions of dollars

 1 Total financial assets 1453.9 1701.0 1884.5 1357.2 1615.6 1832.4 1827.6 2044.4 2320.3 1

 2 Checkable deposits and currency 16.9 19.6 18.3 21.0 16.3 19.3 18.4 19.7 15.3 2

 3 Credit market instruments 207.8 229.7 247.5 246.6 247.4 287.3 290.2 326.6 333.9 3

 4 Open market paper 14.0 16.1 24.1 20.6 16.6 19.7 21.1 19.1 20.9 4

 5 Treasury securities 21.3 22.8 19.3 18.1 19.8 27.7 36.2 40.4 39.5 5

 6 Agency- and GSE-backed securities 44.9 56.5 59.9 79.7 82.8 92.4 92.4 83.8 83.6 6

 7 Municipal securities 1.0 1.3 1.5 4.2 4.3 4.0 4.3 4.9 5.9 7

 8 Corporate and foreign bonds 116.6 122.1 131.8 108.8 112.9 132.5 126.2 169.6 173.4 8

 9 Other loans and advances 0.6 0.6 0.6 0.6 0.6 0.5 0.5 0.4 0.4 9

 10 Mortgages 9.5 10.3 10.4 14.7 10.4 10.3 9.6 8.5 10.4 10

 11 Corporate equities 1071.3 1229.2 1319.9 891.6 1138.1 1328.2 1314.9 1471.0 1717.9 11

 12 Mutual fund shares 104.9 144.6 183.1 118.8 138.4 153.1 147.0 155.9 181.1 12

 13 Miscellaneous assets 53.0 78.0 115.6 79.3 75.5 44.5 57.2 71.1 72.1 13

 14 Total liabilities 1463.5 1711.7 1896.4 1366.7 1620.7 1836.6 1831.9 2050.8 2327.0 14

 15 Life insurance reserves 198.5 252.5 276.5 200.7 225.0 228.4 227.8 240.7 269.7 15

 16 Pension entitlements (1) 969.8 1185.3 1308.4 939.7 1155.9 1329.5 1334.9 1517.3 1735.8 16

 17 Miscellaneous liabilities 295.2 274.0 311.5 226.2 239.7 278.8 269.2 292.8 321.5 17

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 17).
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Historical Annuals, 2005-2013, September 18, 2014 123

F.117.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net acquisition of financial assets (1) 65.5 59.4 61.7 57.5 57.3 47.5 46.6 24.9 18.8 1

 2 Checkable deposits and currency 0.1 0.2 0.8 -4.2 -2.6 2.7 1.8 -1.0 -0.2 2

 3 Time and savings deposits 5.6 0.4 3.4 -5.5 3.4 -0.2 1.2 -3.3 -0.7 3

 4 Money market fund shares 0.0 0.0 0.4 -15.1 0.4 -5.1 -0.3 -4.0 -0.8 4

 5 Security repurchase agreements 0.7 0.3 0.2 -1.0 0.2 -0.2 0.0 -0.3 -0.1 5

 6 Credit market instruments 33.8 34.3 23.1 -52.9 4.1 71.7 78.0 83.8 35.2 6

 7 Open market paper 0.6 0.3 3.9 -7.9 3.2 -1.0 1.1 -3.6 -3.8 7

 8 Treasury securities 1.4 11.8 -1.9 -10.9 12.7 7.4 19.3 15.9 24.8 8

 9 Agency- and GSE-backed securities 16.1 2.6 4.0 -23.3 -6.6 2.7 14.3 11.0 9.8 9

 10 Corporate and foreign bonds 15.9 19.6 15.4 -3.1 -3.3 61.4 45.8 60.7 6.9 10

 11 Mortgages -0.2 -0.1 1.7 -7.7 -2.0 1.2 -2.4 -0.1 -2.4 11

 12 Corporate equities -49.0 -107.9 15.2 -70.1 -41.8 -4.1 -65.4 -11.0 -21.7 12

 13 Mutual fund shares -7.0 -0.2 6.3 52.0 -8.0 -10.8 12.5 -46.4 -7.9 13

 14 Miscellaneous assets 81.2 132.2 12.3 154.4 101.8 -6.2 18.8 7.1 14.9 14

 15 Unallocated insurance contracts (2) -8.6 -30.6 3.3 4.0 -2.4 -8.2 12.7 -9.5 -0.3 15

 16 Contributions receivable -1.9 -0.2 2.5 16.7 -5.3 13.4 1.7 -12.4 -0.8 16

 17 Claims of pension fund on sponsor (3) 93.1 148.4 -4.9 123.4 82.8 -20.7 -16.8 8.4 12.1 17

 18 Other -1.5 14.5 11.5 10.2 26.8 9.3 21.2 20.6 4.0 18

 19 Net increase in pension entitlements (liabilities) (4) 65.5 59.4 61.8 57.5 57.3 47.5 46.6 24.9 18.8 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

F.117.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 103.6 130.4 120.9 49.1 96.1 130.0 49.1 89.2 103.1 1

 2 Checkable deposits and currency 0.1 0.2 0.5 -1.4 -0.1 -0.5 3.8 -0.7 0.4 2

 3 Time and savings deposits 0.6 0.6 0.4 1.0 -0.5 -0.4 0.4 -0.6 0.4 3

 4 Money market fund shares 1.9 3.4 6.5 20.3 -9.9 -5.1 16.8 -13.1 2.9 4

 5 Security repurchase agreements 0.4 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 10.6 23.8 8.0 46.0 5.4 48.9 -4.4 62.8 14.6 6

 7 Open market paper 1.3 0.3 -0.4 1.8 -1.4 -1.0 1.4 -1.2 0.5 7

 8 Treasury securities 1.9 2.6 2.4 16.1 20.0 23.9 7.7 28.4 11.3 8

 9 Agency- and GSE-backed securities 1.9 13.6 -0.4 21.5 0.1 3.8 -10.1 11.2 5.4 9

 10 Corporate and foreign bonds 5.5 7.5 5.9 6.9 -12.7 20.7 -1.2 23.2 -1.6 10

 11 Mortgages 0.0 -0.2 0.5 -0.3 -0.5 1.6 -2.2 1.3 -1.0 11

 12 Corporate equities 0.0 12.5 -18.4 5.2 -49.4 26.9 5.1 -7.6 22.2 12

 13 Mutual fund shares 79.3 78.0 78.8 32.3 59.5 45.5 -4.1 20.2 35.4 13

 14 Miscellaneous assets 10.8 11.3 45.2 -54.1 91.0 14.7 31.4 28.1 27.3 14

 15 Unallocated insurance contracts (2) 15.6 18.4 22.4 -42.3 93.3 7.8 8.0 14.5 11.1 15

 16 Contributions receivable 0.0 -1.8 2.1 -2.0 -3.3 2.0 1.3 0.1 0.2 16

 17 Other -4.9 -5.3 20.8 -9.8 1.0 4.9 22.2 13.5 16.0 17

 18 Net increase in pension entitlements (liabilities) 103.6 130.4 120.9 49.1 96.1 130.0 49.1 89.2 103.1 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

F.226.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: 206.4 247.4 436.6 248.3 136.5 51.8 -26.6 94.2 -136.8 1

 2 U.S.-chartered depository institutions 7.4 30.6 22.2 44.2 30.7 26.6 20.3 24.4 -0.4 2

 3 Credit unions 1.6 3.9 5.0 7.2 8.7 3.0 1.2 1.4 -0.7 3

 4 Life insurance companies 28.2 12.2 21.5 22.3 -13.4 19.4 10.2 14.2 8.7 4

 5 Money market mutual funds 6.0 34.0 44.0 47.0 -42.0 -24.0 9.0 7.0 10.0 5

 6 Mutual funds 72.2 105.3 122.1 -116.9 150.5 124.2 43.1 86.8 102.1 6

 7 Other self-directed accounts 91.0 61.4 221.8 244.5 1.9 -97.4 -110.4 -39.5 -256.6 7

(1) Assets of the household sector (F.100). IRA assets are not included in pension entitlements (table F.226), except for those at life insurance companies. Figures for depositories (lines 2 and 3)

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 4) and are excluded from the mutual fund sector (line 6) and from the money market fund sector (line 5).
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124 Historical Annuals, 2005-2013, September 18, 2014

L.117.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets (1) 2251.2 2364.3 2494.9 2572.9 2626.3 2835.7 2947.1 3017.8 3068.5 1

 2 Checkable deposits and currency 5.3 11.1 11.9 7.7 5.0 7.7 9.5 8.4 8.2 2

 3 Time and savings deposits 42.0 26.4 29.8 24.3 27.7 27.5 28.7 25.4 24.7 3

 4 Money market fund shares 0.0 54.2 54.6 39.5 39.8 34.7 34.3 30.3 29.6 4

 5 Security repurchase agreements 5.1 3.5 3.7 2.8 2.9 2.7 2.7 2.4 2.3 5

 6 Credit market instruments 468.5 569.2 592.3 539.4 543.5 615.1 693.2 777.0 812.2 6

 7 Open market paper 5.1 32.1 36.0 28.0 31.2 30.2 31.3 27.6 23.8 7

 8 Treasury securities 60.0 112.2 110.2 99.3 112.1 119.4 138.8 154.7 179.5 8

 9 Agency- and GSE-backed securities 198.5 142.1 146.1 122.8 116.3 119.0 133.3 144.3 154.1 9

 10 Corporate and foreign bonds 200.6 257.9 273.3 270.2 266.9 328.3 374.1 434.7 441.6 10

 11 Mortgages 4.2 24.9 26.6 19.0 17.0 18.2 15.8 15.7 13.3 11

 12 Corporate equities 1392.8 1150.7 1209.3 726.1 863.8 1010.7 929.5 1048.0 1247.0 12

 13 Mutual fund shares 253.4 313.7 331.8 257.3 322.9 349.8 356.6 359.3 427.5 13

 14 Miscellaneous assets 84.2 235.6 261.5 975.9 820.6 787.5 892.6 767.0 517.0 14

 15 Unallocated insurance contracts (2) 88.8 61.5 65.4 54.6 57.8 53.0 64.5 58.2 63.4 15

 16 Contributions receivable 1.8 35.9 38.4 55.1 49.8 63.1 64.8 52.4 51.6 16

 17 Claims of pension fund on sponsor (3) -30.1 -28.8 -20.8 677.4 497.6 446.5 517.2 389.8 131.4 17

 18 Other 23.7 167.1 178.5 188.7 215.5 224.8 246.0 266.6 270.6 18

 19 Pension entitlements (liabilities) (4) 2290.4 2402.0 2529.1 2608.2 2662.7 2872.2 2983.7 3054.3 3105.0 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.117.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 3145.5 3447.7 3659.7 2725.0 3339.5 3777.8 3769.7 4223.7 5036.8 1

 2 Checkable deposits and currency 5.4 6.3 6.8 5.4 5.3 4.8 8.6 7.9 8.3 2

 3 Time and savings deposits 19.6 3.5 3.8 4.8 4.4 3.9 4.3 3.7 4.1 3

 4 Money market fund shares 86.7 90.0 96.5 116.7 106.8 101.7 118.5 105.4 108.3 4

 5 Security repurchase agreements 17.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 218.0 172.7 180.7 226.6 232.1 281.0 276.5 339.4 354.0 6

 7 Open market paper 21.4 11.1 10.7 12.5 11.0 10.0 11.3 10.1 10.6 7

 8 Treasury securities 53.8 25.1 27.5 43.6 63.6 87.5 95.2 123.6 134.9 8

 9 Agency- and GSE-backed securities 49.9 40.0 39.7 61.2 61.2 65.0 55.0 66.1 71.6 9

 10 Corporate and foreign bonds 87.3 89.4 95.3 102.2 89.5 110.2 109.0 132.1 130.5 10

 11 Mortgages 5.6 7.0 7.5 7.2 6.7 8.3 6.1 7.4 6.4 11

 12 Corporate equities 967.1 907.5 917.0 598.2 705.1 839.2 822.3 926.3 1157.7 12

 13 Mutual fund shares 1395.7 1605.4 1745.5 1160.5 1564.1 1798.1 1763.1 2025.4 2541.5 13

 14 Miscellaneous assets 436.1 662.4 709.4 612.6 721.7 749.1 776.3 815.5 862.9 14

 15 Unallocated insurance contracts (2) 318.5 345.4 369.6 284.5 395.9 416.4 420.1 445.7 476.9 15

 16 Contributions receivable 43.0 28.8 30.9 28.9 25.6 27.7 29.0 29.0 29.3 16

 17 Other 74.6 288.2 309.0 299.2 300.2 305.1 327.3 340.8 356.7 17

 18 Pension entitlements (liabilities) 3145.5 3447.7 3659.7 2725.0 3339.5 3777.8 3769.7 4223.7 5036.8 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

L.226.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: 3425.0 4207.0 4748.0 3681.0 4488.0 5029.0 5001.0 5561.0 6521.0 1

 2 U.S.-chartered depository institutions 229.1 259.6 281.8 326.0 356.7 383.3 403.6 428.0 427.6 2

 3 Credit unions 49.3 53.2 58.2 65.5 74.2 77.2 78.4 79.9 79.2 3

 4 Life insurance companies 381.0 406.0 430.0 375.0 398.0 436.0 440.0 473.0 516.0 4

 5 Money market mutual funds 143.0 177.0 221.0 268.0 226.0 202.0 211.0 218.0 228.0 5

 6 Mutual funds 1502.0 1778.0 1999.0 1276.0 1670.0 1937.0 1899.0 2158.0 2619.0 6

 7 Other self-directed accounts 1120.6 1533.2 1757.9 1370.5 1763.1 1993.5 1968.9 2204.1 2651.2 7

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension entitlements (table L.226), except for those at life insurance companies. Figures for depositories

 (lines 2 and 3) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 4) and are excluded from the mutual fund sector (line 6) and from the money market fund sector (line 5).
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F.118.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net acquisition of financial assets (1) 183.1 190.8 201.5 209.5 216.0 220.7 215.2 208.4 202.9 1

 2 Checkable deposits and currency -6.7 -2.8 0.3 -0.1 -0.0 0.5 0.2 -0.1 0.9 2

 3 Time and savings deposits 9.4 8.9 3.3 0.6 1.2 5.9 2.8 -0.3 7.7 3

 4 Money market fund shares 16.6 12.0 0.8 -4.8 -3.4 2.3 -1.4 -3.1 8.1 4

 5 Security repurchase agreements -8.8 -3.9 0.2 -0.2 -0.1 0.3 0.1 -0.1 0.7 5

 6 Credit market instruments 37.6 93.4 42.3 -25.1 -85.2 19.2 12.4 6.6 64.7 6

 7 Open market paper -5.0 1.9 3.1 -0.2 0.5 5.7 2.4 -0.7 8.2 7

 8 Treasury securities 4.8 -0.2 -8.6 -15.9 21.9 7.8 9.2 18.8 16.1 8

 9 Agency- and GSE-backed securities -47.0 9.9 -2.7 -29.9 -3.2 1.1 13.2 21.4 13.6 9

 10 Municipal securities -0.9 -0.1 -0.1 -0.1 0.1 0.7 -0.7 -0.9 -0.1 10

 11 Corporate and foreign bonds 87.0 79.8 48.7 23.8 -101.9 4.4 -11.5 -31.3 29.5 11

 12 Mortgages -1.3 2.2 2.0 -2.8 -2.7 -0.4 -0.1 -0.7 -2.6 12

 13 Corporate equities 43.3 -8.3 58.8 117.4 17.8 -80.6 -56.2 -44.1 -170.7 13

 14 Mutual fund shares -10.8 -13.1 -24.1 -24.3 -7.6 -18.2 -61.0 -50.1 -11.7 14

 15 Miscellaneous assets 102.6 104.4 119.9 146.0 293.4 291.1 318.3 299.7 303.3 15

 16 Claims of pension fund on sponsor (2) 57.7 74.9 116.8 163.7 303.9 275.5 316.5 300.2 290.0 16

 17 Other 44.8 29.5 3.1 -17.7 -10.6 15.7 1.7 -0.5 13.3 17

 18 Pension entitlements (liabilities) (3) 183.1 190.8 201.6 209.5 215.9 220.7 215.2 208.4 202.9 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

F.118.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 27.6 30.7 34.4 -28.0 14.1 22.9 -9.9 -6.9 22.0 1

 2 Checkable deposits and currency 0.0 -0.0 0.1 0.2 -0.4 0.0 0.2 0.4 -0.2 2

 3 Time and savings deposits 0.3 -0.2 0.2 0.7 -0.3 -0.5 -0.4 -0.3 0.3 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.4 0.8 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 1.5 0.3 1.6 5.3 2.2 3.2 2.0 1.4 -1.8 6

 7 Open market paper 1.7 -0.7 -1.6 0.9 -1.4 -1.2 -0.3 -0.6 0.6 7

 8 Treasury securities 0.3 -0.4 1.2 2.4 2.8 2.8 2.4 0.3 -2.8 8

 9 Agency- and GSE-backed securities -1.8 0.6 1.2 3.2 -0.6 -0.2 -0.8 -0.5 -0.1 9

 10 Municipal securities 0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.2 0.4 10

 11 Corporate and foreign bonds 1.2 0.7 0.7 -1.1 1.3 1.6 0.7 2.0 0.1 11

 12 Corporate equities 11.7 12.5 13.3 -5.1 -16.4 2.0 2.7 -2.0 13.9 12

 13 Mutual fund shares 4.7 3.9 7.9 6.8 5.9 4.3 -4.5 0.8 2.0 13

 14 Miscellaneous assets 9.4 14.2 11.1 -35.8 23.0 13.9 -10.3 -6.8 7.0 14

 15 Unallocated insurance contracts (2) 9.4 14.2 11.1 -35.8 23.0 13.8 -10.3 -6.7 6.2 15

 16 Other 0.0 0.0 0.1 0.0 -0.1 0.1 -0.0 -0.0 0.8 16

 17 Pension entitlements (liabilities) 27.6 30.7 34.4 -28.0 14.1 22.9 -9.9 -6.9 22.0 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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126 Historical Annuals, 2005-2013, September 18, 2014

L.118.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets (1) 3086.9 3320.4 3477.3 3704.9 3855.2 4302.2 4493.4 4637.3 4721.7 1

 2 Checkable deposits and currency 6.1 3.4 3.7 3.6 3.6 4.1 4.3 4.2 5.0 2

 3 Time and savings deposits 14.7 23.6 26.9 27.5 28.7 34.6 37.4 37.1 44.8 3

 4 Money market fund shares 36.6 48.6 49.4 44.6 41.2 43.5 42.2 39.1 47.2 4

 5 Security repurchase agreements 7.0 3.1 3.3 3.1 3.0 3.4 3.4 3.3 3.9 5

 6 Credit market instruments 717.0 810.4 852.7 827.6 742.4 761.6 774.1 780.6 845.3 6

 7 Open market paper 26.9 28.8 31.9 31.7 32.3 38.0 40.3 39.6 47.9 7

 8 Treasury securities 154.2 154.0 145.4 129.5 151.4 159.3 168.5 187.3 203.4 8

 9 Agency- and GSE-backed securities 184.6 194.5 191.8 161.9 158.7 159.8 172.9 194.3 207.9 9

 10 Municipal securities 1.6 1.6 1.5 1.3 1.4 2.1 1.4 0.5 0.4 10

 11 Corporate and foreign bonds 335.8 415.6 464.3 488.1 386.2 390.6 379.0 347.7 377.2 11

 12 Mortgages 13.7 15.9 17.9 15.1 12.3 11.9 11.9 11.2 8.6 12

 13 Corporate equities 1628.8 1815.8 1941.6 1277.0 1628.8 1793.6 1728.8 1926.9 2309.4 13

 14 Mutual fund shares 281.7 318.9 307.1 170.6 205.2 217.0 152.2 121.6 146.4 14

 15 Miscellaneous assets 395.0 296.7 292.5 1350.9 1202.2 1444.4 1751.1 1724.5 1319.6 15

 16 Claims of pension fund on sponsor (2) 314.0 186.2 178.9 1254.9 1116.9 1343.4 1648.3 1622.2 1204.1 16

 17 Other 81.0 110.5 113.6 95.9 85.3 101.0 102.7 102.2 115.5 17

 18 Pension entitlements (liabilities) (3) 3140.9 3406.5 3588.5 3799.0 3959.8 4408.7 4604.1 4762.4 4862.9 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

L.118.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 389.8 438.5 474.2 341.4 422.4 470.4 436.7 455.9 521.7 1

 2 Checkable deposits and currency 0.1 0.1 0.2 0.4 0.1 0.1 0.3 0.6 0.4 2

 3 Time and savings deposits 1.1 0.9 1.1 1.8 1.5 1.0 0.7 0.3 0.6 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.8 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 21.1 21.4 23.0 28.3 30.5 33.7 35.7 37.0 35.2 6

 7 Open market paper 7.9 7.2 5.6 6.5 5.1 3.9 3.6 3.0 3.6 7

 8 Treasury securities 4.3 3.9 5.1 7.6 10.4 13.3 15.7 16.0 13.1 8

 9 Agency- and GSE-backed securities 5.7 6.3 7.5 10.7 10.0 9.8 9.0 8.5 8.4 9

 10 Municipal securities 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.4 0.8 10

 11 Corporate and foreign bonds 3.2 3.9 4.6 3.5 4.8 6.4 7.1 9.1 9.2 11

 12 Corporate equities 129.3 145.4 152.5 94.9 122.2 136.3 121.7 131.8 161.9 12

 13 Mutual fund shares 114.2 131.4 146.5 107.3 133.9 149.4 139.0 152.2 179.5 13

 14 Miscellaneous assets 123.9 139.4 150.7 108.7 134.3 150.0 139.1 133.8 143.4 14

 15 Unallocated insurance contracts (2) 123.6 139.0 150.4 108.3 133.9 149.6 138.7 133.5 142.2 15

 16 Other 0.3 0.3 0.4 0.4 0.3 0.4 0.4 0.3 1.2 16

 17 Pension entitlements (liabilities) 389.8 438.5 474.2 341.4 422.4 470.4 436.7 455.9 521.7 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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Historical Annuals, 2005-2013, September 18, 2014 127

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net acquisition of financial assets (2) 82.2 79.5 79.8 79.5 75.5 84.2 90.0 88.6 89.9 1

 2 Credit market instruments -0.0 0.0 0.5 -0.7 -0.8 -0.8 0.3 -0.0 -0.0 2

 3 Treasury securities -0.2 0.1 -0.1 0.4 0.4 -0.2 -0.3 -0.3 -0.0 3

 4 Agency- and GSE-backed securities -0.1 -0.4 -0.6 -0.4 -0.7 -0.2 -0.2 -0.2 -0.0 4

 5 Corporate and foreign bonds 0.3 0.4 1.2 -0.7 -0.5 -0.3 0.8 0.4 0.1 5

 6 Corporate equities -0.9 -1.2 -1.8 -0.7 -1.2 -0.9 -1.9 -2.0 -1.5 6

 7 Miscellaneous assets 83.1 80.7 81.0 80.9 77.5 85.9 91.6 90.7 91.4 7

 8 Nonmarketable Treasury securities (3) 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 98.2 8

 9 Claims of pension fund on sponsor (4) 43.1 44.9 47.7 17.6 15.6 20.2 20.8 50.3 -6.8 9

 10 Pension entitlements (liabilities) (5) 82.2 79.5 79.8 79.5 75.5 84.2 90.0 88.6 89.9 10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and

 disability fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 15.6 15.8 15.7 16.9 18.2 18.0 23.0 13.3 20.0 1

 2 Credit market instruments 8.1 8.7 12.1 24.6 8.2 11.6 25.2 15.4 9.4 2

 3 Treasury securities (2) 7.8 8.4 11.4 24.3 7.0 10.4 23.7 12.4 12.5 3

 4 Agency- and GSE-backed securities 0.1 0.2 0.5 0.2 0.7 0.8 0.9 1.7 -1.7 4

 5 Corporate and foreign bonds 0.1 0.1 0.3 0.1 0.4 0.5 0.6 1.3 -1.4 5

 6 Corporate equities 7.6 7.1 3.6 -7.7 10.1 6.3 -2.3 -2.1 10.6 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Pension entitlements (liabilities) 15.6 15.8 15.7 16.9 18.2 18.0 23.0 13.3 20.0 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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128 Historical Annuals, 2005-2013, September 18, 2014

L.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net acquisition of financial assets (2) 2330.9 2413.5 2494.7 2568.9 2692.9 2894.8 2980.8 3070.0 3161.7 1

 2 Credit market instruments 7.5 7.5 8.0 7.3 6.6 5.8 6.1 6.1 6.1 2

 3 Treasury securities 1.6 1.7 1.6 1.9 2.3 2.1 1.7 1.5 1.4 3

 4 Agency- and GSE-backed securities 3.2 2.8 2.1 1.7 1.1 0.9 0.7 0.5 0.5 4

 5 Corporate and foreign bonds 2.7 3.1 4.3 3.7 3.2 2.9 3.7 4.1 4.1 5

 6 Corporate equities 17.7 18.9 17.9 10.5 11.6 12.4 10.4 9.8 11.2 6

 7 Miscellaneous assets 2305.7 2387.0 2468.7 2551.1 2674.8 2876.6 2964.3 3054.1 3144.5 7

 8 Nonmarketable Treasury securities (3) 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 8

 9 Claims of pension fund on sponsor (4) 1422.8 1468.3 1516.8 1535.8 1597.6 1733.7 1750.7 1800.0 1792.1 9

 10 Pension entitlements (liabilities) (5) 2330.9 2413.5 2494.7 2568.9 2692.9 2894.8 2980.8 3070.0 3161.7 10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and

 disability fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

L.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 163.8 196.1 219.3 189.4 229.6 264.5 285.2 314.9 381.0 1

 2 Credit market instruments 70.7 79.4 91.5 116.1 124.3 136.0 161.2 176.6 186.0 2

 3 Treasury securities (2) 66.5 74.9 86.2 110.6 117.6 128.0 151.7 164.1 176.6 3

 4 Agency- and GSE-backed securities 2.6 2.8 3.3 3.4 4.1 4.9 5.8 7.5 5.9 4

 5 Corporate and foreign bonds 1.6 1.7 2.0 2.1 2.5 3.0 3.7 5.0 3.6 5

 6 Corporate equities 93.1 116.7 127.8 73.2 105.3 128.5 124.0 138.3 195.0 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Pension entitlements (liabilities) 163.8 196.1 219.3 189.4 229.6 264.5 285.2 314.9 381.0 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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Historical Annuals, 2005-2013, September 18, 2014 129

F.127.e Equity Real Estate Investment Trusts (REITs)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Net acquisition of financial assets 7.4 5.8 1.6 2.2 29.7 -0.8 8.1 14.1 13.3 1

 2 Checkable deposits and currency 0.6 4.1 -2.4 2.1 10.3 -4.1 -2.3 4.1 1.0 2

 3 Credit market instruments 1.9 0.5 2.4 2.4 6.2 0.7 2.3 1.5 -1.9 3

 4 Corporate and foreign bonds 1.1 -0.0 0.2 0.2 2.1 0.4 -0.6 -0.2 -1.8 4

 5 Mortgages 0.8 0.6 2.2 2.2 4.0 0.4 2.9 1.6 -0.1 5

 6 Home -0.0 0.0 -0.0 0.0 0.0 0.0 0.1 0.0 0.0 6

 7 Multifamily residential 0.1 0.0 -0.1 0.2 -0.2 0.0 -0.0 0.1 -0.0 7

 8 Commercial 0.7 0.5 2.3 2.0 4.2 0.3 2.9 1.5 -0.1 8

 9 Miscellaneous assets 4.9 1.2 1.5 -2.3 13.2 2.6 8.1 8.5 14.2 9

 10 Net increase in liabilities 28.3 8.4 28.2 2.3 2.9 -0.4 37.4 38.5 36.4 10

 11 Credit market instruments 27.3 4.2 23.8 7.9 6.6 0.1 32.8 33.9 34.5 11

 12 Corporate bonds 7.8 1.0 12.6 -1.4 4.7 1.0 13.2 27.6 28.9 12

 13 Depository institution loans n.e.c. 5.4 -3.4 6.5 2.5 -9.8 -1.8 6.1 1.4 -2.2 13

 14 Mortgages 14.1 6.6 4.7 6.8 11.8 0.8 13.5 4.8 7.8 14

 15 Multifamily residential -0.1 0.3 -2.3 2.3 2.3 0.4 0.1 -1.1 3.3 15

 16 Commercial 14.2 6.3 7.0 4.5 9.5 0.4 13.3 6.0 4.5 16

 17 Miscellaneous liabilities 1.0 4.2 4.3 -5.5 -3.8 -0.5 4.6 4.6 1.9 17

F.127.m Mortgage Real Estate Investment Trusts (REITs)

Billions of dollars

 1 Net acquisition of financial assets 46.8 32.9 -27.5 -69.8 -17.3 40.5 123.1 146.9 36.8 1

 2 Checkable deposits and currency 0.8 0.7 0.6 -0.3 2.1 -1.6 4.8 3.6 -2.3 2

 3 Credit market instruments 39.3 25.5 -22.2 -71.0 -16.4 43.3 117.9 126.1 41.1 3

 4 Agency- and GSE-backed securities -4.0 24.8 23.5 0.7 15.6 38.2 104.7 109.5 -95.6 4

 5 Corporate and foreign bonds 15.9 11.7 -30.4 -23.0 2.2 6.8 4.4 9.7 1.6 5

 6 Mortgages 27.5 -10.9 -15.3 -48.8 -34.2 -1.7 8.8 6.9 135.1 6

 7 Home 24.8 -23.8 -23.3 -46.1 -25.3 0.1 10.9 6.8 -3.3 7

 8 Multifamily residential 0.2 3.1 0.3 -1.1 -1.8 -0.3 -0.2 0.1 0.5 8

 9 Commercial 2.5 9.8 7.8 -1.6 -7.1 -1.5 -1.9 -0.0 137.8 9

 10 Miscellaneous assets 6.7 6.6 -5.9 1.5 -3.0 -1.2 0.4 17.2 -2.0 10

 11 Net increase in liabilities 44.8 29.3 -19.5 -71.2 -24.6 34.4 93.1 124.9 53.8 11

 12 Security repurchase agreements 13.2 14.4 -6.2 -12.3 11.1 29.9 97.7 102.4 -66.6 12

 13 Credit market instruments 28.1 11.3 -13.6 -61.7 -34.2 -0.1 -7.2 1.6 143.9 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 25.1 13.0 -11.9 -58.9 -31.4 -0.0 -5.7 -0.9 144.7 15

 16 Depository institution loans n.e.c. 3.0 -1.6 -1.7 -2.8 -2.8 -0.0 -1.5 2.5 -0.8 16

 17 Miscellaneous liabilities 3.5 3.5 0.3 2.8 -1.5 4.6 2.5 20.9 -23.5 17

 Memo:

 18 Securitized assets included above 17.3 2.8 -17.9 -46.7 -26.8 -0.5 -3.8 1.3 139.6 18

 19 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Home mortgages 15.7 -9.8 -20.2 -40.6 -25.7 1.1 -0.7 3.7 4.0 20

 21 Multifamily residential mortgages 0.1 0.3 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 21

 22 Commercial mortgages 1.6 12.3 2.4 -6.1 -1.1 -1.6 -3.0 -2.4 135.6 22
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130 Historical Annuals, 2005-2013, September 18, 2014

L.127.e Equity Real Estate Investment Trusts (REITs)

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Total financial assets 55.8 61.6 63.2 65.4 95.1 94.3 102.3 116.4 129.7 1

 2 Checkable deposits and currency 9.3 13.4 11.0 13.1 23.4 19.3 17.0 21.1 22.1 2

 3 Credit market instruments 9.0 9.5 12.0 14.4 20.6 21.3 23.6 25.0 23.1 3

 4 Corporate and foreign bonds 2.5 2.5 2.7 2.9 5.0 5.4 4.8 4.6 2.8 4

 5 Mortgages 6.5 7.1 9.3 11.5 15.5 15.9 18.8 20.4 20.3 5

 6 Home 0.0 0.1 0.0 0.1 0.1 0.1 0.2 0.2 0.2 6

 7 Multifamily residential 0.4 0.5 0.3 0.5 0.3 0.3 0.3 0.4 0.3 7

 8 Commercial 6.0 6.6 8.9 10.9 15.1 15.5 18.3 19.9 19.8 8

 9 Miscellaneous assets 37.5 38.7 40.2 37.9 51.1 53.7 61.8 70.3 84.5 9

 10 Total liabilities 305.4 313.8 342.0 344.3 347.2 346.8 384.1 422.6 459.0 10

 11 Credit market instruments 258.3 262.4 286.3 294.1 300.8 300.9 333.6 367.5 402.0 11

 12 Corporate bonds 90.5 91.4 104.0 102.6 107.3 108.4 121.6 149.2 178.1 12

 13 Depository institution loans n.e.c. 22.3 19.0 25.5 28.0 18.2 16.4 22.5 23.9 21.7 13

 14 Mortgages 145.5 152.1 156.7 163.5 175.3 176.1 189.5 194.4 202.2 14

 15 Multifamily residential 24.8 25.1 22.7 25.1 27.3 27.8 27.9 26.7 30.0 15

 16 Commercial 120.7 127.0 134.0 138.4 147.9 148.3 161.7 167.7 172.1 16

 17 Miscellaneous liabilities 47.2 51.3 55.7 50.2 46.4 45.9 50.5 55.1 57.0 17

L.127.m Mortgage Real Estate Investment Trusts (REITs)

Billions of dollars

 1 Total financial assets 250.0 283.0 255.3 185.2 167.7 208.1 331.1 477.8 514.5 1

 2 Checkable deposits and currency 4.3 5.0 5.6 5.3 7.4 5.8 10.7 14.2 11.9 2

 3 Credit market instruments 231.3 256.8 234.5 163.1 146.6 189.9 307.6 433.5 474.5 3

 4 Agency- and GSE-backed securities 40.6 65.4 88.9 89.6 105.2 143.4 248.1 357.6 261.9 4

 5 Corporate and foreign bonds 50.5 62.1 31.7 8.7 11.0 17.8 22.2 31.9 33.6 5

 6 Mortgages 140.2 129.3 113.9 64.8 30.5 28.7 37.3 44.1 179.0 6

 7 Home 127.9 104.1 80.6 34.2 8.8 8.8 19.6 26.3 22.9 7

 8 Multifamily residential 1.5 4.6 4.9 3.8 2.0 1.6 1.4 1.5 2.0 8

 9 Commercial 10.8 20.6 28.4 26.8 19.7 18.2 16.3 16.3 154.1 9

 10 Miscellaneous assets 14.4 21.1 15.2 16.7 13.7 12.5 12.8 30.1 28.1 10

 11 Total liabilities 228.8 258.1 238.6 167.3 142.7 177.2 270.3 395.2 448.9 11

 12 Security repurchase agreements 83.5 97.9 91.7 79.4 90.5 120.4 218.1 320.6 254.0 12

 13 Credit market instruments 137.2 148.5 134.9 73.3 39.1 39.0 31.9 33.5 177.4 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 126.2 139.2 127.3 68.4 37.1 37.0 31.3 30.4 175.1 15

 16 Depository institution loans n.e.c. 11.0 9.4 7.6 4.8 2.0 2.0 0.5 3.1 2.3 16

 17 Miscellaneous liabilities 8.1 11.6 11.9 14.7 13.2 17.8 20.3 41.2 17.6 17

 Memo:

 18 Securitized assets included above 107.3 110.0 92.1 45.4 18.6 18.1 14.3 15.6 155.2 18

 19 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Home mortgages 102.5 92.7 72.4 31.8 6.1 7.2 6.5 10.2 14.2 20

 21 Multifamily residential mortgages 0.1 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.3 21

 22 Commercial mortgages 4.7 17.0 19.3 13.2 12.2 10.6 7.5 5.2 140.7 22
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Historical Annuals, 2005-2013, September 18, 2014 131

S.1.a Total Economy - Current Account

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross value added 13129.2 14073.2 14460.1 14619.2 14343.4 14915.2 15556.3 16372.3 16980.0 1

 (income approach)

 2 Less: Consumption of fixed capital 1982.0 2136.0 2264.4 2363.4 2368.4 2381.6 2450.6 2530.2 2627.2 2

 3 Equals: Net value added 11147.2 11937.2 12195.8 12255.8 11975.0 12533.6 13105.6 13842.1 14352.7 3

 4 Compensation of employees (paid) 7097.9 7513.7 7908.8 8090.0 7795.7 7969.5 8277.1 8614.9 8853.6 4

 5 Wages and salaries 5703.1 6068.8 6405.7 6543.6 6260.1 6385.6 6641.2 6940.5 7133.6 5

 6 Employers’ social contributions 1394.8 1444.9 1503.1 1546.4 1535.6 1583.9 1635.9 1674.4 1720.1 6

 7 Taxes on production and imports less subsidies 873.6 940.5 980.0 989.4 967.8 1001.2 1042.6 1074.0 1102.3 7

 8 Operating surplus, net 3175.7 3483.0 3307.0 3176.5 3211.6 3562.8 3785.9 4153.2 4396.8 8

 9 Plus: Income receipts from the rest of the world 575.8 724.2 875.7 856.9 648.9 720.0 792.6 793.8 810.4 9

10 Less: Income payments to the rest of the world 483.2 656.6 750.1 684.9 497.8 514.1 546.0 566.5 586.1 10

11 Equals: Net national income/Balance of primary incomes, net 11239.8 12004.8 12321.4 12427.8 12126.1 12739.5 13352.3 14069.5 14577.1 11

12 Operating surplus, net 3175.7 3483.0 3307.0 3176.5 3211.6 3562.8 3785.9 4153.2 4396.8 12

13 Compensation of employees (received) 7086.8 7502.3 7898.3 8078.3 7787.0 7961.4 8269.0 8606.5 8844.8 13

14 Wages and salaries 5692.0 6057.4 6395.2 6531.9 6251.4 6377.5 6633.2 6932.1 7124.7 14

15 Employers’ social contributions 1394.8 1444.9 1503.1 1546.4 1535.6 1583.9 1635.9 1674.4 1720.1 15

16 Taxes on production and imports, receivable 934.5 991.9 1034.6 1041.9 1026.1 1057.1 1102.6 1132.0 1162.4 16

17 Subsidies paid -60.9 -51.5 -54.6 -52.6 -58.3 -55.9 -60.1 -58.0 -60.2 17

18 Property income (received) 5624.9 6618.0 7291.8 6916.9 5815.3 5752.9 6011.3 6276.1 6425.3 18

19 Interest 3420.9 4150.9 4706.7 4234.7 3464.1 3230.4 3233.2 3179.1 3098.0 19

20 Distributed income of corporations 2164.3 2199.1 2300.9 2390.7 2072.0 2166.7 2410.7 2751.8 2935.3 20

21 Dividends 1109.8 1067.3 1234.4 1255.5 989.3 1007.3 1118.0 1324.8 1424.2 21

22 Withdrawals from income of quasi-corporations 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1292.8 1427.0 1511.1 22

23 Reinvested earnings on U.S. direct investment abroad 20.4 247.8 261.4 265.6 260.9 336.6 345.7 322.7 370.2 23

24 Rents on land and natural resources 19.4 20.3 22.6 25.9 18.3 19.2 21.7 22.5 21.7 24

25 Less: Uses of property income (paid) 5521.3 6539.1 7155.7 6733.1 5655.5 5538.8 5756.6 6040.3 6192.1 25

26 Interest 3556.3 4328.1 4924.0 4457.7 3661.6 3411.5 3400.4 3345.1 3267.9 26

27 Distributed income of corporations 1903.4 2121.2 2160.5 2210.1 1953.8 2045.3 2255.8 2574.9 2802.4 27

28 Dividends 848.9 989.4 1093.9 1075.0 871.2 885.9 963.1 1147.9 1291.3 28

29 Withdrawals from income of quasi-corporations 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1292.8 1427.0 1511.1 29

30 Reinvested earnings on foreign direct investment 42.1 69.5 48.5 39.4 21.9 62.8 78.7 97.7 100.1 30

31 Rents on land and natural resources 19.4 20.3 22.6 25.9 18.3 19.2 21.7 22.5 21.7 31

32 Net national income/Balance of primary incomes, net 11239.8 12004.8 12321.4 12427.8 12126.1 12739.5 13352.3 14069.5 14577.1 32

33 Plus: Current taxes on income, wealth, etc. (received) 1616.5 1821.0 1923.9 1735.1 1405.8 1553.5 1766.9 1944.4 2121.1 33

34 Less: Current taxes on income, wealth, etc. (paid) 1620.9 1825.5 1933.4 1744.3 1414.4 1562.0 1779.7 1958.5 2136.0 34

35 Plus: Social benefits (received) 2364.3 2515.3 2658.3 2840.4 3070.9 3223.0 3179.9 3263.4 3482.1 35

36 Less: Social contributions (paid) 2370.9 2523.2 2666.9 2851.1 3081.9 3234.6 3192.6 3276.9 3495.6 36

37 Plus: Other current transfers (received) 494.1 497.2 532.5 560.9 668.8 719.3 697.4 649.3 672.7 37

38 Less: Other current transfers (paid) 597.4 585.5 639.1 676.1 782.0 840.4 819.1 763.0 782.5 38

39 Equals: Disposable income, net 11125.6 11904.1 12196.7 12292.8 11993.2 12598.3 13205.1 13928.2 14438.8 39

40 Less: Final consumption expenditures 10774.2 11393.8 11960.2 12382.2 12289.0 12724.4 13220.2 13632.9 14031.9 40

41 Equals: Net saving 351.4 510.2 236.5 -89.5 -295.8 -126.1 -15.1 295.4 406.8 41

 Addendum:

42 Gross value added (line 1) 13129.2 14073.2 14460.1 14619.2 14343.4 14915.2 15556.3 16372.3 16980.0 42

43 Plus statistical discrepancy (NIPA) -35.5 -217.3 17.5 99.4 75.3 49.2 -38.3 -209.2 -211.9 43

44 Equals: GDP (NIPA, expenditure approach) 13093.7 13855.9 14477.6 14718.6 14418.7 14964.4 15517.9 16163.1 16768.0 44
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross value added 13129.2 14073.2 14460.1 14619.2 14343.4 14915.2 15556.3 16372.3 16980.0 1

 2 Households and nonprofit institutions serving households 1599.5 1689.4 1749.6 1855.3 1913.6 1928.8 1974.4 2023.9 2094.6 2

 3 Nonfinancial noncorporate business 2218.8 2440.1 2513.9 2632.4 2466.4 2546.2 2751.6 2926.1 3055.2 3

 4 Nonfinancial corporate business 6532.1 6988.0 7203.9 7256.8 6859.8 7238.7 7592.3 8030.3 8287.0 4

 5 Financial business 1034.3 1127.6 1068.8 851.9 1015.4 1042.8 1045.8 1178.3 1307.1 5

 6 Federal government 552.7 577.6 605.4 637.6 668.8 704.5 720.9 722.7 711.3 6

 7 State and local government 1191.7 1250.3 1318.5 1385.2 1419.4 1454.2 1471.4 1491.0 1524.8 7

 8 Net saving 351.4 510.2 236.5 -89.5 -295.8 -126.1 -15.1 295.4 406.8 8

 9 Households and nonprofit institutions serving households 237.9 329.5 310.3 542.2 672.0 628.0 711.1 896.2 608.1 9

10 Nonfinancial corporate business 411.7 386.5 313.1 296.7 381.0 603.5 584.2 563.7 571.3 10

11 Financial business 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 147.2 101.7 11

12 Federal government -304.7 -227.0 -265.6 -634.0 -1248.8 -1328.7 -1244.1 -1079.1 -649.1 12

13 State and local government -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -232.6 -225.1 13

 Net capital transfers

14 Households and nonprofit institutions serving households -21.9 16.6 6.8 7.7 -28.4 -20.6 2.0 -5.0 19.7 14

15 Nonfinancial noncorporate business -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 15

16 Nonfinancial corporate business -15.5 -0.0 -0.0 -3.7 38.3 20.9 -6.4 -16.7 -5.7 16

17 Financial business 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 9.6 0.0 17

18 Federal government 60.3 43.2 53.0 117.6 186.3 126.3 113.9 84.7 58.4 18

19 State and local government -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.8 -74.2 -71.6 19

20 Rest of the world 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 6.5 -0.8 20

21 Gross fixed capital formation 2981.2 3166.0 3201.5 3091.4 2672.7 2691.1 2836.0 3033.7 3170.2 21

22 Households and nonprofit institutions serving households 865.0 860.1 736.1 580.4 468.1 452.4 451.9 502.9 569.4 22

23 Nonfinancial noncorporate business 289.2 305.0 313.5 307.5 248.8 243.1 274.8 300.7 320.6 23

24 Nonfinancial corporate business 1133.4 1259.9 1348.2 1372.7 1141.9 1181.0 1303.9 1420.5 1482.5 24

25 Financial business (nonresidential) 180.0 188.7 211.5 196.2 166.9 162.8 167.5 190.2 201.5 25

26 Federal government 222.9 238.0 251.4 275.8 284.0 300.0 297.4 287.8 268.5 26

27 State and local government 290.8 314.3 340.8 358.8 363.0 351.9 340.5 331.6 327.8 27

28 Consumption of fixed capital 1982.0 2136.0 2264.4 2363.4 2368.4 2381.6 2450.6 2530.2 2627.2 28

29 Households and nonprofit institutions serving households 362.1 396.2 413.7 414.6 403.3 400.5 398.2 404.5 427.1 29

30 Nonfinancial noncorporate business 214.4 232.6 245.6 254.5 253.0 251.8 265.0 271.7 281.7 30

31 Nonfinancial corporate business 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1139.2 1183.8 1229.8 31

32 Financial business (nonresidential) 148.9 156.8 165.4 173.9 177.4 176.7 168.6 174.1 182.2 32

33 Federal government 189.4 200.7 212.8 226.3 234.5 245.3 257.4 264.1 268.0 33

34 State and local government 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.8 238.4 34

35 Change in inventories 59.6 67.0 34.5 -32.0 -147.6 61.5 41.8 64.9 74.1 35

36 Nonfinancial noncorporate business 7.1 5.3 3.3 -2.3 -16.8 3.6 6.8 3.0 17.4 36

37 Nonfinancial corporate business 52.5 61.7 31.2 -29.7 -130.8 57.9 34.9 61.8 56.7 37

38 Net lending (+) or net borrowing (-) (capital account) -694.5 -588.8 -735.0 -780.1 -453.2 -497.8 -443.8 -266.5 -211.1 38

39 Households and nonprofit institutions serving households -234.0 -140.8 -7.7 379.7 645.2 605.2 663.3 810.5 454.0 39

40 Nonfinancial noncorporate business -68.8 -77.7 -71.1 -47.5 27.0 12.8 -15.1 -27.1 -56.2 40

41 Nonfinancial corporate business 150.2 30.7 -26.4 33.8 417.2 439.3 391.4 280.9 266.2 41

42 Financial business 14.3 28.8 -94.6 -91.2 304.4 263.8 183.3 121.5 82.5 42

43 Federal government -396.6 -293.2 -353.9 -780.6 -1475.7 -1508.7 -1397.1 -1185.6 -705.6 43

44 State and local government -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -266.9 -252.0 44

 Addendum:

45 Statistical discrepancy (NIPA) -35.5 -217.3 17.5 99.4 75.3 49.2 -38.3 -209.2 -211.9 45

46 Rest of the world 730.0 806.1 717.5 680.7 377.8 448.6 482.1 475.7 423.0 46

47 Net lending (+) or net borrowing (-) (financial account) -430.0 -626.3 -354.2 -1175.1 -514.2 -678.3 -928.6 -863.8 -290.3 47

48 Households and nonprofit institutions serving households -298.7 -367.2 238.5 1076.7 595.8 893.1 1122.0 905.1 747.7 48

49 Nonfinancial noncorporate business -51.4 -61.0 -53.8 -33.4 48.7 33.5 -11.0 -22.9 -51.9 49

50 Nonfinancial corporate business -20.9 -139.0 -208.2 -947.7 548.5 145.2 -400.9 -509.7 -212.2 50

51 Financial business 341.3 255.5 119.7 -160.3 29.5 -26.5 28.8 117.3 162.2 51

52 Federal government -422.8 -310.4 -390.6 -789.0 -1298.2 -1414.9 -1352.4 -1119.3 -663.3 52

53 State and local government 22.6 -4.3 -59.8 -321.4 -438.5 -308.6 -315.2 -234.4 -272.8 53

 Addendum:

54 Rest of the world 698.5 529.8 151.5 765.2 28.0 268.2 416.7 446.6 350.8 54

 Total other volume changes

55 Households and nonprofit institutions serving households 267.7 493.6 596.0 811.2 578.4 1194.4 452.8 517.5 723.6 55

56 Nonfinancial noncorporate business -78.7 -1.6 -51.9 -319.1 -100.6 174.1 -51.1 -13.8 -38.5 56

57 Nonfinancial corporate business 288.5 576.9 685.6 -740.1 173.6 383.7 -56.1 -203.2 269.7 57

58 Financial business 36.4 -419.1 -71.4 1232.3 -1062.6 -864.2 -119.7 -430.2 -1003.7 58

59 Federal government -47.0 30.2 9.7 86.7 121.5 -32.0 46.4 39.2 26.9 59

60 State and local government 215.7 324.2 231.5 -974.6 358.9 36.5 -45.3 359.0 676.8 60

61 Rest of the world -34.9 -145.3 -537.5 75.3 -335.3 -181.8 -69.6 -34.8 -66.4 61

 Holding gains/losses

62 Households and nonprofit institutions serving households 5378.2 3700.3 -490.1 -11622.2 463.8 2371.7 52.5 4406.7 8032.5 62

63 Nonfinancial noncorporate business 1191.2 439.9 145.0 -1137.0 -1155.7 455.0 533.2 671.5 1009.6 63

64 Nonfinancial corporate business 87.3 -1389.4 -247.1 4187.9 -5022.7 -1374.4 384.1 -1388.4 -3761.2 64

65 Financial business 104.8 2.8 1313.2 472.0 439.9 122.0 230.8 -22.2 -71.5 65

66 Federal government 115.3 116.8 93.3 1.2 -157.9 18.5 36.4 37.0 59.0 66

67 State and local government 478.9 621.8 466.0 350.4 -71.7 197.3 394.7 246.1 264.2 67

68 Rest of the world -708.1 -565.2 -761.7 1154.7 -900.5 -192.9 876.2 -288.5 294.6 68
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Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Change in net worth

69 Households and nonprofit institutions serving households 5905.7 4506.9 409.5 -10276.5 1742.6 4214.8 1214.5 5825.4 9344.5 69

70 Nonfinancial noncorporate business 1125.3 437.2 92.8 -1453.1 -1251.3 636.6 483.0 662.7 971.0 70

71 Nonfinancial corporate business 803.0 -426.0 751.6 3748.2 -4506.4 -408.1 918.6 -1011.3 -2914.6 71

72 Financial business 186.5 -355.6 1193.3 1635.4 -328.8 -492.3 293.2 -314.8 -973.4 72

73 Federal government -296.8 -123.3 -215.6 -663.7 -1471.5 -1468.5 -1275.3 -1087.6 -621.7 73

74 State and local government 678.4 964.4 684.1 -726.1 83.0 73.2 207.3 446.7 787.5 74

75 Rest of the world -13.0 95.6 -581.7 1910.8 -857.9 73.9 1288.7 152.3 651.2 75
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S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Current account

 1 Gross value added 1599.5 1689.4 1749.6 1855.3 1913.6 1928.8 1974.4 2023.9 2094.6 1

 2 Less: Consumption of fixed capital 362.1 396.2 413.7 414.6 403.3 400.5 398.2 404.5 427.1 2

 3 Equals: Net value added 1237.5 1293.2 1335.9 1440.7 1510.3 1528.3 1576.1 1619.4 1667.5 3

 4 Compensation paid by households and NPISHs 563.4 590.9 616.8 658.2 686.6 696.4 723.9 752.0 776.1 4

 5 Wages and salaries 466.2 490.9 516.0 549.9 566.1 577.3 597.0 622.3 641.3 5

 6 Employers’ social contributions 97.1 100.0 100.8 108.3 120.5 119.1 126.9 129.7 134.8 6

 7 Taxes on production and imports less subsidies 120.7 130.8 135.1 143.2 152.4 152.8 154.9 156.6 157.2 7

 8 Operating surplus, net 553.4 571.5 584.0 639.3 671.3 679.1 697.2 710.7 734.2 8

 9 Net national income/Balance of primary incomes, net 9733.1 10437.5 10936.7 11247.7 10643.4 10889.5 11566.0 12255.9 12617.9 9

10 Operating surplus, net 553.4 571.5 584.0 639.3 671.3 679.1 697.2 710.7 734.2 10

11 Compensation of employees (received) 7086.8 7502.3 7898.3 8078.3 7787.0 7961.4 8269.0 8606.5 8844.8 11

12 Wages and salaries 5692.0 6057.4 6395.2 6531.9 6251.4 6377.5 6633.2 6932.1 7124.7 12

13 Employers’ social contributions 1394.8 1444.9 1503.1 1546.4 1535.6 1583.9 1635.9 1674.4 1720.1 13

14 Property income (received) 2722.2 3071.6 3234.6 3303.6 2901.9 2900.2 3207.9 3516.9 3592.1 14

15 Interest 1089.4 1216.1 1351.5 1363.0 1265.5 1196.2 1232.9 1257.2 1256.5 15

16 Distributed income of corporations 1632.8 1855.5 1883.1 1940.6 1636.4 1704.0 1975.0 2259.7 2335.6 16

17 Dividends 578.3 723.7 816.5 805.4 553.7 544.6 682.2 832.7 824.5 17

18 Withdrawals from income of quasi-corporations (1) 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1292.8 1427.0 1511.1 18

19 Less: Uses of property income (interest paid) 629.3 707.9 780.2 773.5 716.8 651.2 608.2 578.2 553.2 19

20 Net national income/Balance of primary incomes, net 9733.1 10437.5 10936.7 11247.7 10643.4 10889.5 11566.0 12255.9 12617.9 20

21 Less: Current taxes on income, wealth, etc. (paid) 1208.5 1352.1 1487.9 1435.2 1144.9 1191.5 1400.6 1503.7 1661.8 21

22 Plus: Social benefits (received) 1486.3 1588.2 1692.2 1847.3 2101.5 2234.0 2257.7 2307.6 2372.2 22

23 Less: Social contributions (paid) 873.3 922.6 961.4 988.2 964.4 984.1 917.8 951.2 1104.5 23

24 Plus: Other current transfers (received) 25.7 21.5 30.6 36.6 38.7 43.0 50.2 43.1 42.3 24

25 Less: Other current transfers (paid) 131.2 138.9 149.3 152.3 155.2 160.6 155.1 172.4 173.8 25

26 Equals: Disposable income, net 9032.0 9633.5 10060.8 10555.9 10519.0 10830.2 11400.4 11979.3 12092.4 26

27 Less: Final consumption expenditures 8794.1 9304.0 9750.5 10013.6 9847.0 10202.2 10689.3 11083.1 11484.3 27

28 Equals: Net saving 237.9 329.5 310.3 542.2 672.0 628.0 711.1 896.2 608.1 28

 Capital account

29 Net saving less capital transfers 259.8 313.0 303.5 534.6 700.4 648.6 709.1 901.2 588.4 29

30 Net saving 237.9 329.5 310.3 542.2 672.0 628.0 711.1 896.2 608.1 30

31 Less: Capital transfers paid (net) -21.9 16.6 6.8 7.7 -28.4 -20.6 2.0 -5.0 19.7 31

32 Capital formation, net 493.8 453.8 311.2 154.9 55.2 43.4 45.8 90.7 134.4 32

33 Gross fixed capital formation, excluding consumer durables 865.0 860.1 736.1 580.4 468.1 452.4 451.9 502.9 569.4 33

34 Residential 738.9 722.7 582.3 425.3 321.0 318.3 321.1 368.0 433.4 34

35 Nonresidential (nonprofit organizations) 126.1 137.4 153.9 155.1 147.1 134.1 130.8 134.9 136.0 35

36 Less: Consumption of fixed capital 362.1 396.2 413.7 414.6 403.3 400.5 398.2 404.5 427.1 36

37 Acquisition of nonproduced nonfinancial assets -9.1 -10.1 -11.2 -11.0 -9.7 -8.5 -7.8 -7.7 -7.9 37

38 Net lending (+) or borrowing (-), capital account (lines 29-32) -234.0 -140.8 -7.7 379.7 645.2 605.2 663.3 810.5 454.0 38

 Financial account

39 Net lending (+) or borrowing (-) (line 38) -234.0 -140.8 -7.7 379.7 645.2 605.2 663.3 810.5 454.0 39

40 Net acquisition of financial assets 860.7 907.7 1199.5 1087.2 671.6 788.8 1057.1 1180.6 991.2 40

41 Currency and deposits 369.7 452.7 426.1 420.0 199.7 206.3 690.0 566.4 345.1 41

42 Currency and transferable deposits -113.9 -40.0 -75.3 176.8 101.0 38.9 328.5 160.6 135.9 42

43 Time and savings deposits 481.5 486.5 483.6 261.0 105.9 162.8 371.4 413.5 206.4 43

44 Foreign deposits 2.1 6.1 17.8 -17.8 -7.2 4.5 -9.9 -7.7 2.8 44

45 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Debt securities 48.1 -97.3 476.6 577.7 84.1 -67.0 -219.2 -236.7 -527.7 46

47 Open market paper 14.7 19.0 -10.2 -101.3 16.7 -1.5 -1.8 -0.6 -3.8 47

48 Treasury securities -121.3 -103.7 -37.9 146.1 533.1 320.4 -229.3 211.7 -188.1 48

49 Agency- and GSE-backed securities (2) 148.4 -23.3 339.6 239.9 -670.9 -10.0 -11.3 -136.7 -94.7 49

50 Municipal securities 77.8 34.7 37.9 47.3 107.1 43.6 -65.6 -144.9 -43.3 50

51 Corporate and foreign bonds -71.4 -24.1 147.2 245.7 98.1 -419.5 88.8 -166.2 -197.8 51

52 Loans -0.9 70.8 220.4 -159.2 -47.6 1.6 -5.1 16.8 49.8 52

53 Short term -9.0 87.9 233.3 -160.4 -46.8 12.5 -5.9 30.7 56.9 53

54 Long term (mortgages) 8.1 -17.1 -12.9 1.1 -0.9 -10.9 0.7 -13.9 -7.2 54
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2005 2006 2007 2008 2009 2010 2011 2012 2013

 

55 Equity and investment fund shares -227.4 -216.2 -628.7 -418.8 -20.5 41.5 -51.3 369.0 557.7 55

56 Corporate equities -412.6 -608.3 -1065.6 -321.0 -19.0 -221.0 -308.7 -241.3 -59.3 56

57 Mutual fund shares 196.3 182.5 247.4 -22.5 376.2 281.8 333.4 606.7 642.5 57

58 Money market fund shares 44.4 218.0 239.3 234.5 -267.3 -183.0 -15.2 9.0 21.3 58

59 Equity in noncorporate business -55.4 -8.4 -49.9 -309.8 -111.5 159.8 -61.4 -5.4 -46.8 59

60 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 1.2 4.0 0.7 0.0 0.0 60

61 Insurance, pension and standardized guarantee schemes 671.1 697.7 705.2 667.5 455.9 606.3 642.7 465.2 566.4 61

62 Insurance receivables due from property-casualty insurance companies 25.6 4.6 6.7 11.0 8.7 -35.2 36.7 -17.7 39.7 62

63 Life insurance reserves 15.1 57.8 18.2 59.9 24.6 6.2 73.5 -26.6 19.2 63

64 Pension entitlements (4) 598.0 602.5 620.9 552.5 397.6 595.8 499.2 497.9 494.9 64

65 Non-life insurance reserves at life insurance companies 9.5 14.8 15.5 17.6 8.4 17.1 14.8 -1.8 0.4 65

66 Retiree Health Care Funds 23.0 18.1 43.9 26.5 16.6 22.5 18.5 13.3 12.2 66

67 Net incurrence of liabilities 1159.4 1274.9 961.0 10.5 75.8 -104.3 -64.9 275.5 243.6 67

68 Debt securities (municipals) 15.1 16.4 21.1 9.3 5.9 -2.2 -7.8 -14.5 -13.1 68

69 Loans 1130.3 1244.4 924.2 -24.1 33.4 -75.4 -57.9 285.4 252.7 69

70 Short term 69.2 229.1 178.8 -114.9 -36.6 102.4 16.2 346.6 241.8 70

71 Consumer credit 100.4 120.5 151.3 34.9 -103.6 -25.3 108.5 169.7 174.3 71

72 Depository institution loans n.e.c. 0.3 44.2 -9.1 4.6 28.3 50.1 -54.9 110.8 30.0 72

73 Other loans and advances 0.0 4.8 3.2 6.2 0.5 2.4 1.9 1.2 2.0 73

74 Security credit -31.6 59.7 33.4 -160.7 38.1 75.2 -39.3 64.9 35.4 74

75 Long term (mortgages) 1061.1 1015.3 745.5 90.8 70.0 -177.8 -74.2 -61.2 10.9 75

76 Insurance, pension and standardized guarantee schemes 1.0 0.5 1.0 3.2 -4.9 2.7 -0.4 0.6 3.0 76

77 Other accounts payable (trade debt) 13.0 13.6 14.6 22.2 41.4 -29.4 1.2 4.0 1.0 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 40-67) -298.7 -367.2 238.5 1076.7 595.8 893.1 1122.0 905.1 747.7 78

 Other changes in volume account

79 Total other volume changes 267.7 493.6 596.0 811.2 578.4 1194.4 452.8 517.5 723.6 79

80 Net investment in consumer durable goods 252.4 239.6 231.1 134.6 50.3 86.9 119.0 158.4 194.3 80

81 Disaster losses -50.4 0.0 0.0 -8.3 0.0 0.0 0.0 -20.9 0.0 81

82 Other volume changes 130.5 480.4 118.7 -12.1 577.5 819.7 -124.8 285.4 235.6 82

83 Less: Statistical discrepancy (lines 38-78) (5) 64.7 226.4 -246.2 -697.0 49.4 -287.9 -458.7 -94.6 -293.7 83

 Revaluation account

84 Nonfinancial assets 2830.2 272.4 -1874.6 -3692.3 -1186.3 -487.0 -133.5 1475.7 2295.2 84

85 Real estate 2877.0 320.7 -1815.6 -3657.8 -1138.9 -395.9 -155.9 1514.6 2386.3 85

86 Consumer durable goods -44.1 -46.9 -55.6 -32.0 -40.8 -88.3 17.7 -41.5 -92.2 86

87 Equipment -2.6 -0.6 -3.1 -1.3 -4.7 -2.4 2.5 -0.1 -0.3 87

88 Intellectual property products -0.1 -0.8 -0.3 -1.2 -2.0 -0.4 2.2 2.8 1.4 88

89 Financial assets 2547.9 3427.9 1384.6 -7929.9 1650.1 2858.8 186.1 2931.1 5737.4 89

90 Corporate equities 1031.9 2209.5 851.3 -3830.2 1514.1 1645.3 56.9 1389.6 2886.7 90

91 Mutual fund shares 38.9 335.3 269.6 -1313.1 466.0 255.3 -268.7 326.9 804.5 91

92 Equity in noncorporate business 1205.7 443.5 144.1 -1147.6 -1147.1 462.8 532.8 675.2 1013.7 92

93 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 -0.3 -1.0 -0.2 -0.1 0.0 93

94 Insurance, pension and standardized guarantee schemes 271.3 439.5 119.5 -1639.0 817.5 496.4 -134.7 539.4 1032.5 94

95 Changes in net worth due to nominal holding gains/losses 5378.2 3700.3 -490.1 -11622.2 463.8 2371.7 52.5 4406.7 8032.5 95

 Changes in balance sheet account

96 Change in net worth (lines 32+38+79+95) 5905.7 4506.9 409.5 -10276.5 1742.6 4214.8 1214.5 5825.4 9344.5 96

 Balance sheet account (end of period)

97 Total assets 74048.8 79854.6 81197.0 70804.8 72330.9 76265.0 77272.1 83169.6 92669.2 97

98 Nonfinancial assets 28532.0 29499.1 28167.5 24756.9 23677.1 23318.2 23347.2 25047.8 27669.2 98

99 Real estate 24138.7 24889.8 23358.0 19822.7 18720.7 18349.6 18221.5 19790.2 22295.9 99

100 Consumer durable goods 4107.8 4300.5 4476.0 4578.6 4588.1 4586.7 4723.3 4840.1 4942.2 100

101 Equipment 206.1 226.0 245.8 264.0 271.9 280.1 293.0 299.7 306.9 101

102 Intellectual property products 79.5 82.8 87.6 91.6 96.4 101.8 109.4 117.7 124.1 102
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S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

103 Financial assets 45516.7 50355.5 53029.5 46047.9 48653.8 52946.9 53925.0 58121.8 65000.1 103

104 Currency and deposits 5314.8 5793.7 6214.7 6599.7 6784.8 6941.8 7631.7 8139.5 8485.3 104

105 Currency and transferable deposits 285.9 239.7 153.3 295.2 396.1 423.7 752.2 899.1 1035.0 105

106 Foreign deposits 63.8 69.9 87.7 69.9 62.7 67.3 57.4 49.7 52.5 106

107 Time and savings deposits 4965.0 5484.1 5973.6 6234.6 6326.0 6450.8 6822.2 7190.7 7397.8 107

108 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 108

109 Debt securities 3303.4 3248.3 3771.9 4220.4 4601.1 4707.6 4175.4 3995.6 3684.0 109

110 Open market paper 98.4 117.5 107.3 6.0 22.7 21.1 19.4 18.8 15.0 110

111 Treasury securities 425.7 325.8 202.9 184.1 854.0 1126.6 707.0 929.3 949.0 111

112 Agency- and GSE-backed securities (2) 587.4 613.4 873.9 1056.6 357.4 335.4 300.2 152.7 97.7 112

113 Municipal securities 1600.6 1635.7 1673.5 1720.8 1827.9 1871.5 1805.9 1661.0 1617.7 113

114 Corporate and foreign bonds 591.4 556.0 914.2 1253.0 1539.2 1353.1 1343.0 1233.9 1004.6 114

115 Loans 772.9 912.5 1132.9 973.6 928.3 929.9 924.7 930.5 980.3 115

116 Short term 632.1 788.9 1022.1 861.8 817.4 829.8 824.0 843.6 900.5 116

117 Long term (mortgages) 140.8 123.6 110.7 111.8 110.9 100.1 100.8 86.9 79.8 117

118 Equity and investment fund shares 20968.1 24221.0 24858.9 18151.5 18975.2 21394.3 21675.0 24544.0 29811.0 118

119 Corporate equities 8025.4 10126.0 9911.7 5760.5 7255.5 8679.9 8475.6 9623.9 12451.3 119

120 Mutual fund shares 3527.1 4080.3 4597.4 3261.8 4104.0 4641.1 4661.8 5705.4 7152.4 120

121 Money market fund shares 942.7 1106.6 1345.9 1580.5 1313.1 1130.1 1114.9 1123.9 1145.2 121

122 Equity in noncorporate business 8473.0 8908.1 9003.8 7548.8 6301.6 6939.4 7418.3 8086.4 9057.7 122

123 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.9 3.8 4.4 4.4 4.4 123

124 Insurance, pension and standardized guarantee schemes 15157.5 16180.0 17051.2 16102.7 17364.4 18973.3 19518.2 20512.2 22039.5 124

125 Insurance receivables due from property-casualty insurance companies 316.0 320.5 327.3 337.3 346.0 310.8 347.5 329.8 369.5 125

126 Life insurance reserves 1082.6 1055.2 1076.8 1049.8 1109.2 1137.2 1199.0 1186.1 1232.8 126

127 Pension entitlements (4) 13466.3 14478.7 15262.2 14286.6 15455.1 17031.7 17444.7 18457.8 19886.1 127

128 Non-life insurance reserves at life insurance companies 217.3 232.1 247.6 265.2 273.6 290.7 305.5 303.7 304.2 128

129 Retiree Health Care Funds 75.4 93.5 137.3 163.8 180.4 202.9 221.4 234.8 246.9 129

130 Total liabilities and net worth 74048.8 79854.6 81197.0 70804.8 72330.9 76265.0 77272.1 83169.6 92669.2 130

131 Liabilities 12162.4 13461.4 14394.3 14278.6 14062.1 13781.5 13574.0 13646.1 13801.2 131

132 Debt securities (municipals) 212.7 229.1 250.2 259.5 265.4 263.2 255.5 241.0 227.8 132

133 Loans 11741.1 13009.5 13905.7 13755.4 13496.4 13244.7 13044.3 13126.2 13290.5 133

134 Short term 2655.5 2908.7 3090.1 2975.1 2873.6 3122.8 3144.4 3429.3 3671.1 134

135 Consumer credit 2320.6 2461.9 2615.7 2650.6 2552.8 2647.4 2755.9 2923.6 3097.9 135

136 Depository institution loans n.e.c. -16.5 30.9 21.8 26.4 -15.9 61.0 11.5 62.6 92.7 136

137 Other loans and advances 119.0 123.8 127.0 133.2 133.7 136.1 138.1 139.3 141.3 137

138 Security credit 232.4 292.1 325.5 164.8 203.0 278.2 238.9 303.7 339.2 138

139 Long term (mortgages) 9085.5 10100.8 10815.7 10780.3 10622.8 10121.9 9899.9 9696.9 9619.4 139

140 Insurance, pension and standardized guarantee schemes 22.4 22.8 23.9 27.0 22.1 24.7 24.3 24.9 27.9 140

141 Other accounts payable (trade debt) 186.3 199.9 214.5 236.7 278.2 248.8 250.0 254.0 255.0 141

142 Net worth 61886.4 66393.3 66802.7 56526.2 58268.8 62483.6 63698.1 69523.5 78868.0 142

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

NPISHs Nonprofit institutions serving households

n.e.c. Not elsewhere classified
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Historical Annuals, 2005-2013, September 18, 2014 137

S.4.a Nonfinancial Noncorporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Current account

 1 Gross value added 2218.8 2440.1 2513.9 2632.4 2466.4 2546.2 2751.6 2926.1 3055.2 1

 2 Less: Consumption of fixed capital 214.4 232.6 245.6 254.5 253.0 251.8 265.0 271.7 281.7 2

 3 Equals: Net value added 2004.4 2207.5 2268.3 2378.0 2213.4 2294.4 2486.6 2654.4 2773.5 3

 4 Compensation of employees (paid) 664.7 747.4 827.5 843.4 805.4 816.6 845.9 895.8 926.6 4

 5 Wages and salaries 557.9 631.2 701.8 712.1 675.0 684.6 713.1 756.0 781.4 5

 6 Employers’ social contributions 106.8 116.3 125.7 131.3 130.4 131.9 132.8 139.9 145.2 6

 7 Taxes on production and imports less subsidies 130.2 147.0 157.6 157.9 145.4 150.7 158.7 163.9 167.1 7

 8 Operating surplus, net 1209.4 1313.0 1283.2 1376.7 1262.6 1327.1 1482.0 1594.6 1679.9 8

 9 Net national income/Balance of primary incomes, net 21.8 22.7 19.8 15.0 21.0 23.0 25.5 26.5 24.8 9

10 Operating surplus, net 1209.4 1313.0 1283.2 1376.7 1262.6 1327.1 1482.0 1594.6 1679.9 10

11 Property income (interest received) 18.1 19.1 17.7 13.6 9.4 8.4 9.1 10.6 9.4 11

12 Less: Uses of property income (paid) 1205.7 1309.5 1281.1 1375.3 1251.0 1312.5 1465.5 1578.7 1664.5 12

13 Interest 198.8 227.6 254.2 263.1 242.7 237.9 226.9 225.7 231.7 13

14 Withdrawals from income of quasi-corporations (1) 1006.8 1081.8 1026.8 1112.2 1008.3 1074.5 1238.4 1352.8 1432.6 14

15 Reinvested earnings on foreign direct investment 0.1 0.1 0.1 0.1 0.0 0.1 0.2 0.2 0.2 15

16 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Net national income/Balance of primary incomes, net 21.8 22.7 19.8 15.0 21.0 23.0 25.5 26.5 24.8 17

18 Less: Other current transfers (paid) 21.8 22.7 19.8 15.0 21.0 23.0 25.5 26.5 24.8 18

19 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Capital account

21 Net saving less capital transfers 13.1 0.0 0.0 3.3 6.0 7.8 1.6 4.9 0.0 21

22 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Less: Capital transfers paid (net) -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 23

24 Capital formation, net 81.9 77.7 71.1 50.8 -21.0 -5.1 16.7 32.0 56.3 24

25 Gross fixed capital formation 289.2 305.0 313.5 307.5 248.8 243.1 274.8 300.7 320.6 25

26 Nonresidential 180.5 198.9 215.0 223.8 182.9 184.9 214.6 231.8 240.7 26

27 Residential 108.7 106.2 98.5 83.7 65.8 58.3 60.2 68.9 79.9 27

28 Less: Consumption of fixed capital 214.4 232.6 245.6 254.5 253.0 251.8 265.0 271.7 281.7 28

29 Change in private inventories 7.1 5.3 3.3 -2.3 -16.8 3.6 6.8 3.0 17.4 29

30 Net lending (+) or borrowing (-), capital account (lines 21-24) -68.8 -77.7 -71.1 -47.5 27.0 12.8 -15.1 -27.1 -56.2 30

 Financial account

31 Net lending (+) or borrowing (-) (line 30) -68.8 -77.7 -71.1 -47.5 27.0 12.8 -15.1 -27.1 -56.2 31

32 Net acquisition of financial assets 437.3 519.9 479.5 97.3 -117.1 152.0 16.6 74.1 35.4 32

33 Currency and deposits 100.2 95.0 81.8 2.5 10.1 0.2 1.5 19.9 3.9 33

34 Currency and transferable deposits 76.7 74.7 66.9 3.8 14.9 -2.7 -2.4 14.9 -3.7 34

35 Time and savings deposits 23.5 20.3 14.9 -1.2 -4.8 2.9 3.9 5.0 7.6 35

36 Debt securities 6.1 1.5 2.5 -7.9 -5.5 2.5 0.6 0.8 1.1 36

37 Treasury securities 6.0 0.2 3.0 -7.5 -5.7 1.9 0.5 0.7 1.0 37

38 Municipal securities 0.1 1.3 -0.5 -0.4 0.2 0.5 0.1 0.1 0.1 38

39 Loans 5.3 -1.5 7.4 -3.0 -1.2 4.2 0.5 0.6 0.9 39

40 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Long term (mortgages) 5.3 -1.5 7.4 -3.0 -1.2 4.2 0.5 0.6 0.9 41

42 Equity and investment fund shares 2.4 3.3 2.9 2.2 -1.7 3.5 1.1 1.2 2.2 42

43 Money market mutual fund shares 2.4 3.2 2.2 1.0 -1.7 3.1 0.8 1.1 1.6 43

44 Equity in government-sponsored enterprises (2) -0.1 0.2 0.7 1.2 -0.0 0.4 0.3 0.2 0.6 44

45 Insurance, pension and standardized guarantee schemes (3) 5.5 4.4 3.7 3.4 -9.8 29.9 -11.6 15.9 -27.4 45

46 Other accounts receivable 317.8 417.2 381.1 100.0 -109.0 111.8 24.6 35.8 54.6 46

47 Trade receivables 66.6 40.0 54.7 -3.0 -26.3 37.0 5.8 7.5 11.4 47

48 Other (miscellaneous assets) 251.2 377.2 326.4 102.9 -82.7 74.7 18.8 28.3 43.2 48

49 Net incurrence of liabilities 488.7 580.9 533.3 130.7 -165.8 118.5 27.6 97.0 87.3 49

50 Loans 341.8 415.4 463.2 325.5 -97.1 -19.4 42.7 87.9 115.0 50

51 Short term 164.3 132.1 154.5 131.8 -107.3 -12.1 57.3 95.0 55.7 51

52 Depository institution loans n.e.c. 157.9 115.3 140.9 119.6 -102.0 -16.8 56.7 85.7 49.5 52

53 Other loans and advances 6.4 16.8 13.7 12.3 -5.3 4.7 0.6 9.3 6.2 53

54 Long term (mortgages) 177.5 283.3 308.7 193.7 10.2 -7.3 -14.6 -7.1 59.3 54
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S.4.a Nonfinancial Noncorporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

55 Equity and investment fund shares -54.2 -2.5 -53.7 -321.6 -112.0 159.2 -58.6 -11.5 -42.5 55

56 Equity in noncorporate business -54.2 -1.6 -53.5 -321.4 -112.1 158.9 -58.6 -12.2 -43.0 56

57 Foreign direct investment in the United States 0.1 -0.9 -0.2 -0.2 0.1 0.3 0.0 0.6 0.5 57

58 Other accounts payable 201.0 168.0 123.7 126.8 43.3 -21.4 43.4 20.6 14.8 58

59 Trade payables 49.7 14.3 26.0 5.8 16.9 30.3 7.9 1.2 6.9 59

60 Taxes payable 8.7 9.0 3.8 6.7 -6.3 -0.7 1.2 2.0 3.1 60

61 Other (miscellaneous liabilities) 142.7 144.6 93.9 114.3 32.6 -50.9 34.4 17.4 4.8 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 32-49) -51.4 -61.0 -53.8 -33.4 48.7 33.5 -11.0 -22.9 -51.9 62

 Other changes in volume account

63 Total other volume changes -78.7 -1.6 -51.9 -319.1 -100.6 174.1 -51.1 -13.8 -38.5 63

64 Disaster losses -24.5 0.0 0.0 -4.4 0.0 0.0 0.0 -8.6 -0.0 64

65 Other volume changes -54.2 -1.6 -51.9 -314.7 -100.6 174.1 -51.1 -5.2 -38.5 65

 Revaluation account

66 Nonfinancial assets 1191.2 439.9 145.0 -1137.0 -1155.7 455.0 533.2 671.5 1009.6 66

67 Real estate 1148.5 399.1 83.4 -1179.5 -1187.1 390.8 482.6 649.4 1015.5 67

68 Residential 803.3 63.8 -370.5 -811.1 -469.3 155.2 203.8 389.6 535.1 68

69 Nonresidential 345.2 335.4 453.9 -368.5 -717.9 235.6 278.8 259.9 480.4 69

70 Equipment 27.1 31.2 28.5 38.5 21.6 24.2 18.8 11.4 7.2 70

71 Residential 1.1 0.7 -0.5 0.1 -2.7 -2.3 1.0 -0.4 -2.1 71

72 Nonresidential 26.0 30.6 29.0 38.4 24.3 26.5 17.8 11.7 9.3 72

73 Intellectual property products 10.5 10.4 11.9 9.4 10.2 9.3 4.2 6.6 5.4 73

74 Inventories 5.0 -0.9 21.2 -5.4 -0.3 30.7 27.6 4.1 -18.5 74

75 Liabilities (direct investment in the U.S.) 0.2 1.2 0.2 0.3 1.0 0.2 0.8 -0.1 0.2 75

76 Changes in net worth due to nominal holding gains/losses 1190.9 438.7 144.7 -1137.3 -1156.7 454.8 532.4 671.6 1009.4 76

 Changes in balance sheet account

77 Change in net worth (lines 24+30+63+76) 1125.3 437.2 92.8 -1453.1 -1251.3 636.6 483.0 662.7 971.0 77

 Balance sheet account (end of period)

78 Total assets 12641.7 13662.5 14340.7 13333.3 12017.8 12599.0 13161.4 13926.2 15023.1 78

79 Nonfinancial assets 10044.9 10545.8 10744.6 9639.9 8441.5 8870.7 9416.6 10107.2 11168.7 79

80 Real estate 9099.8 9538.4 9662.6 8515.7 7332.9 7708.0 8181.1 8832.2 9864.4 80

81 Residential (4) 5822.7 5914.6 5562.5 4752.3 4273.0 4411.3 4600.6 4976.6 5513.4 81

82 Nonresidential 3277.1 3623.8 4100.1 3763.4 3059.9 3296.7 3580.5 3855.6 4351.0 82

83 Equipment 578.9 624.9 664.4 705.6 702.5 715.7 747.2 769.9 791.7 83

84 Residential 41.7 44.4 45.5 46.6 44.0 42.2 43.9 44.3 43.3 84

85 Nonresidential 537.2 580.5 618.9 659.0 658.5 673.5 703.3 725.5 748.3 85

86 Intellectual property products 147.8 159.7 170.4 179.0 183.6 190.2 197.0 206.7 215.3 86

87 Inventories 218.4 222.8 247.3 239.6 222.5 256.9 291.3 298.5 297.3 87

88 Financial assets 2596.8 3116.6 3596.1 3693.4 3576.3 3728.3 3744.9 3819.0 3854.4 88

89 Currency and deposits 698.3 793.2 875.0 877.6 887.7 887.9 889.4 909.3 913.2 89

90 Currency and transferable deposits 374.2 448.8 515.7 519.5 534.4 531.6 529.3 544.2 540.5 90

91 Time and savings deposits 324.1 344.4 359.3 358.1 353.3 356.2 360.1 365.1 372.7 91

92 Debt securities 60.6 62.1 64.6 56.7 51.2 53.7 54.3 55.0 56.2 92

93 Treasury securities 56.2 56.3 59.3 51.8 46.1 48.1 48.6 49.3 50.3 93

94 Municipal securities 4.4 5.8 5.3 4.9 5.1 5.6 5.7 5.8 5.9 94

95 Loans 36.2 34.6 42.1 39.1 37.9 42.1 42.5 43.1 44.0 95

96 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 96

97 Long term (mortgages) 36.2 34.6 42.1 39.1 37.9 42.1 42.5 43.1 44.0 97

98 Equity and investment fund shares 73.1 76.5 79.3 81.7 80.1 83.5 84.7 85.9 88.1 98

99 Money market mutual fund shares 69.0 72.2 74.3 75.4 73.7 76.8 77.7 78.7 80.4 99

100 Equity in government-sponsored enterprises (2) 4.1 4.3 5.0 6.4 6.3 6.7 7.0 7.2 7.8 100

101 Insurance, pension and standardized guarantee schemes (3) 99.3 103.7 107.4 111.6 101.8 131.7 120.1 135.9 108.5 101

102 Other accounts receivable 1629.3 2046.5 2427.6 2526.6 2417.6 2529.4 2553.9 2589.8 2644.3 102

103 Trade receivables 430.9 470.9 525.6 522.7 496.3 533.4 539.2 546.6 558.0 103

104 Other (miscellaneous assets) 1198.4 1575.6 1902.0 2003.9 1921.3 1996.0 2014.8 2043.1 2086.3 104
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S.4.a Nonfinancial Noncorporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

105 Total liabilities and net worth 12641.7 13662.5 14340.7 13333.3 12017.8 12599.0 13161.4 13926.2 15023.1 105

106 Liabilities 4180.5 4764.1 5349.5 5795.2 5731.0 5675.6 5755.0 5857.1 5983.1 106

107 Loans 2898.0 3313.4 3775.1 4094.0 3985.4 3950.9 3986.1 4069.5 4180.0 107

108 Short term 805.2 937.3 1091.8 1223.7 1116.4 1098.2 1155.5 1252.9 1308.6 108

109 Depository institution loans n.e.c. 670.5 785.8 926.7 1046.2 944.2 927.4 984.2 1072.2 1121.8 109

110 Other loans and advances 134.6 151.5 165.2 177.4 172.1 170.8 171.3 180.7 186.9 110

111 Long term (mortgages) 2092.9 2376.1 2683.3 2870.3 2869.0 2852.7 2830.6 2816.6 2871.4 111

112 Equity and investment fund shares (direct investment in the U.S.) 3.3 3.6 3.6 3.7 4.8 5.3 6.1 6.6 7.3 112

113 Other accounts payable 1279.1 1447.1 1570.8 1697.6 1740.8 1719.4 1762.9 1781.0 1795.8 113

114 Trade payables 334.5 348.9 374.9 380.7 397.6 427.8 435.7 434.5 441.4 114

115 Taxes payable 86.7 95.7 99.5 106.2 99.9 99.2 100.3 102.3 105.4 115

116 Other (miscellaneous liabilities) 857.9 1002.5 1096.4 1210.7 1243.3 1192.4 1226.8 1244.2 1249.0 116

117 Net worth 8461.2 8898.4 8991.2 7538.1 6286.8 6923.4 7406.4 8069.1 9040.1 117

Notes. Nonfinancial noncorporate business includes noncorporate farms that are excluded from the nonfinancial noncorporate business sector in the Financial Accounts of the United States.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Net equity in reserves of property-casualty insurance companies.

(4) Farm houses are included in the household sector.

n.e.c. Not elsewhere classified
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140 Historical Annuals, 2005-2013, September 18, 2014

S.5.a Nonfinancial Corporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Current account

 1 Gross value added 6532.1 6988.0 7203.9 7256.8 6859.8 7238.7 7592.3 8030.3 8287.0 1

 2 Less: Consumption of fixed capital 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1139.2 1183.8 1229.8 2

 3 Equals: Net value added 5622.2 6008.7 6163.6 6162.8 5767.8 6144.2 6453.1 6846.5 7057.2 3

 4 Compensation of employees (paid) 3930.3 4129.3 4305.3 4358.0 4088.4 4158.7 4363.4 4592.9 4749.4 4

 5 Wages and salaries 3238.0 3420.9 3572.1 3619.5 3377.5 3446.1 3622.9 3826.5 3956.0 5

 6 Employers’ social contributions 692.3 708.5 733.3 738.5 710.9 712.6 740.4 766.4 793.3 6

 7 Taxes on production and imports less subsidies 573.2 610.1 632.5 632.7 605.9 633.0 670.6 692.2 715.2 7

 8 Operating surplus, net 1118.7 1269.3 1225.8 1172.2 1073.5 1352.5 1419.1 1561.3 1592.6 8

 9 Net national income/Balance of primary incomes, net 757.8 764.6 669.1 574.5 630.6 907.3 903.4 927.5 985.7 9

10 Operating surplus, net 1118.7 1269.3 1225.8 1172.2 1073.5 1352.5 1419.1 1561.3 1592.6 10

11 Property income (received) 614.6 644.1 687.4 626.9 563.8 580.3 549.6 534.8 563.0 11

12 Interest 296.9 357.6 379.4 302.8 214.6 177.5 176.3 163.7 166.3 12

13 Distributed income of corporations (dividends) 300.3 79.7 92.3 108.0 139.0 134.4 94.8 106.3 91.9 13

14 Reinvested earnings on U.S. direct investment abroad 17.4 206.9 215.7 216.1 210.2 268.3 278.5 264.8 304.7 14

15 Less: Uses of property income (paid) 975.6 1148.8 1244.1 1224.6 1006.8 1025.4 1065.3 1168.6 1169.9 15

16 Interest 451.0 521.1 605.7 584.5 480.0 444.5 444.3 440.6 438.4 16

17 Distributed income of corporations (dividends) 471.1 550.8 576.9 582.2 490.4 509.9 535.8 626.9 628.8 17

18 Reinvested earnings on foreign direct investment 34.0 56.6 38.9 32.1 18.1 51.8 63.5 78.6 81.0 18

19 Rent 19.4 20.3 22.6 25.9 18.2 19.2 21.7 22.5 21.7 19

20 Net national income/Balance of primary incomes, net 757.8 764.6 669.1 574.5 630.6 907.3 903.4 927.5 985.7 20

21 Less: Current taxes on income, wealth, etc. (paid) 271.9 307.7 293.8 227.4 177.8 220.6 228.8 271.4 329.3 21

22 Less: Other current transfers (paid) 74.2 70.4 62.2 50.3 71.8 83.3 90.4 92.4 85.0 22

23 Equals: Disposable income, net 411.7 386.5 313.1 296.7 381.0 603.5 584.2 563.7 571.3 23

24 Equals: Net saving 411.7 386.5 313.1 296.7 381.0 603.5 584.2 563.7 571.3 24

 Capital account

25 Net saving less capital transfers 427.2 386.5 313.1 300.4 342.7 582.5 590.6 580.4 577.0 25

26 Net saving 411.7 386.5 313.1 296.7 381.0 603.5 584.2 563.7 571.3 26

27 Less: Capital transfers paid (net) -15.5 -0.0 -0.0 -3.7 38.3 20.9 -6.4 -16.7 -5.7 27

28 Capital formation, net 277.0 355.8 339.5 266.6 -74.6 143.3 199.1 299.5 310.7 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 1133.4 1259.9 1348.2 1372.7 1141.9 1181.0 1303.9 1420.5 1482.5 29

30 Less: Consumption of fixed capital 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1139.2 1183.8 1229.8 30

31 Acquisition of nonproduced nonfinancial assets 1.0 13.6 0.4 17.6 6.3 -1.1 -0.5 0.9 1.3 31

32 Change in private inventories 52.5 61.7 31.2 -29.7 -130.8 57.9 34.9 61.8 56.7 32

33 Net lending (+) or borrowing (-), capital account (lines 25-28) 150.2 30.7 -26.4 33.8 417.2 439.3 391.4 280.9 266.2 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 150.2 30.7 -26.4 33.8 417.2 439.3 391.4 280.9 266.2 34

35 Net acquisition of financial assets 944.5 700.1 1072.8 -608.8 299.8 632.7 493.4 686.9 932.0 35

36 Currency and deposits 120.6 -84.8 -62.4 -214.0 254.5 148.6 37.1 53.1 180.6 36

37 Currency and transferable deposits 60.8 -117.2 -7.6 -59.0 70.8 79.6 29.7 15.2 77.9 37

38 Time and savings deposits 49.9 46.6 -55.7 -129.4 176.9 59.9 13.2 36.8 50.8 38

39 Foreign deposits 9.9 -14.2 0.9 -25.5 6.8 9.1 -5.8 1.0 51.9 39

40 Debt securities 40.4 -1.2 -61.7 -25.7 16.3 15.6 -8.5 -10.9 -36.8 40

41 Open market paper 16.0 11.7 -53.2 -12.2 -1.3 12.0 -0.1 -8.0 -21.8 41

42 Treasury securities 18.1 -6.7 -7.1 -7.9 12.5 5.1 -5.1 -3.4 0.7 42

43 Agency- and GSE-backed securities (1) 6.0 -2.2 -2.4 -2.6 4.2 1.7 -1.7 -1.1 -3.8 43

44 Municipal securities 0.3 -4.0 1.1 -3.0 0.9 -3.2 -1.6 1.7 -11.9 44

45 Loans 10.2 -14.0 -21.6 -9.8 -5.5 -8.7 1.8 -1.9 -7.4 45

46 Short term (security repos and consumer credit) 8.5 -5.5 -3.2 -2.0 -1.4 -7.1 2.4 -1.1 -6.5 46

47 Long term (mortgages) 1.7 -8.4 -18.4 -7.7 -4.1 -1.6 -0.6 -0.8 -0.8 47

48 Equity and investment fund shares 142.5 334.9 374.6 423.5 224.3 183.5 364.0 336.6 373.7 48

49 Money market fund shares 52.7 69.1 127.2 178.5 -71.4 -157.7 -35.4 18.2 40.6 49

50 Mutual fund shares 0.7 23.6 -4.9 -16.5 35.3 11.1 -12.8 -0.1 0.9 50

51 U.S. direct investment abroad 24.7 219.2 307.0 262.6 269.7 303.3 403.9 315.9 317.4 51

52 Equity in government-sponsored enterprises (1) 0.0 0.1 0.1 -0.1 0.0 0.1 -0.0 0.0 0.0 52

53 Investment in finance company subsidiaries 64.4 22.9 -54.8 -1.1 -9.3 26.7 8.4 2.6 14.7 53

54 Insurance, pension and standardized guarantee schemes (2) 21.2 7.6 8.3 10.9 -4.0 11.7 10.1 7.6 -6.6 54
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Historical Annuals, 2005-2013, September 18, 2014 141

S.5.a Nonfinancial Corporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

55 Other accounts receivable 609.6 457.6 835.5 -793.8 -185.9 282.0 88.9 302.4 428.5 55

56 Trade receivables 277.6 -13.8 159.8 -169.6 -31.2 105.7 83.8 83.6 145.4 56

57 Other (miscellaneous assets) 332.0 471.4 675.7 -624.3 -154.7 176.3 5.1 218.7 283.1 57

58 Net incurrence of liabilities 965.4 839.1 1281.0 338.9 -248.7 487.6 894.3 1196.6 1144.2 58

59 Debt securities -7.1 150.4 198.5 190.2 179.9 237.1 203.7 353.6 304.2 59

60 Open market paper -7.7 22.4 11.3 7.7 -73.1 24.5 33.4 14.0 14.2 60

61 Municipal securities 41.9 53.3 68.4 66.0 37.2 33.2 8.5 15.2 9.3 61

62 Corporate bonds -41.3 74.7 118.8 116.5 215.8 179.4 161.7 324.4 280.6 62

63 Loans 274.1 237.7 453.0 72.1 -538.5 -308.0 56.8 51.4 127.4 63

64 Short term 83.0 149.9 383.8 132.1 -394.8 -177.5 129.1 46.8 100.2 64

65 Depository institution loans n.e.c. -27.1 22.0 96.3 64.2 -234.0 -87.0 68.9 80.4 46.6 65

66 Other loans and advances 110.1 127.9 287.5 68.0 -160.8 -90.4 60.2 -33.7 53.6 66

67 Long term (mortgages) 191.1 87.8 69.2 -60.1 -143.7 -130.6 -72.3 4.6 27.2 67

68 Equity and investment fund shares -201.5 -304.9 -500.9 -130.1 52.2 -98.1 -264.0 -189.4 -166.3 68

69 Corporate equities -300.2 -496.9 -713.0 -319.6 -52.5 -255.1 -456.7 -359.5 -373.3 69

70 Foreign direct investment in the United States 98.7 192.0 212.1 189.6 104.6 157.0 192.7 170.1 207.1 70

71 Insurance, pension and standardized guarantee schemes 91.2 146.5 -0.4 138.2 74.2 -5.3 -13.8 -3.9 11.5 71

72 Pension fund contributions payable -1.9 -2.0 4.5 14.7 -8.6 15.4 3.0 -12.3 -0.6 72

73 Claim of pension fund on sponsor 93.1 148.4 -4.9 123.4 82.8 -20.7 -16.8 8.4 12.1 73

74 Other accounts payable 808.7 609.4 1130.8 68.5 -16.5 661.9 911.8 984.9 867.3 74

75 Trade payables 199.0 109.1 85.1 -225.2 -82.6 156.3 25.2 83.3 113.4 75

76 Taxes payable -1.8 -0.8 -49.6 3.1 -3.3 7.2 8.8 2.3 -9.3 76

77 Miscellaneous liabilities 611.5 501.1 1095.3 290.6 69.4 498.4 877.8 899.4 763.3 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-58) -20.9 -139.0 -208.2 -947.7 548.5 145.2 -400.9 -509.7 -212.2 78

 Other changes in volume account

79 Total other volume changes 288.5 576.9 685.6 -740.1 173.6 383.7 -56.1 -203.2 269.7 79

80 Disaster losses -22.7 0.0 0.0 -5.8 0.0 0.0 0.0 -6.9 0.0 80

81 Other volume changes 450.2 711.0 827.8 210.2 49.0 636.8 667.9 584.7 751.5 81

82 Less: Statistical discrepancy (lines 33-78) (3) 171.2 169.7 181.7 981.5 -131.2 294.1 792.3 790.6 478.5 82

83 Less: Inventory valuation adjustment -32.1 -35.7 -39.5 -37.0 6.7 -41.0 -68.3 -9.5 3.3 83

 Revaluation account

84 Nonfinancial assets 932.0 973.5 1466.6 -1108.2 -2627.9 857.3 823.0 564.7 1371.7 84

85 Real estate 811.4 872.8 1343.4 -1152.8 -2646.4 724.6 684.9 478.3 1337.3 85

86 Equipment 45.0 70.9 22.6 99.9 -16.1 41.1 76.6 30.1 8.6 86

87 Intellectual property products 27.9 20.5 30.2 13.2 3.1 22.5 27.9 43.5 26.1 87

88 Inventories 47.7 9.2 70.4 -68.4 31.6 69.1 33.7 12.7 -0.3 88

89 Financial assets 94.5 31.0 154.8 -199.6 -15.3 -131.9 -55.7 20.2 2.1 89

90 Mutual fund shares 8.1 15.2 9.7 -55.2 20.4 13.6 -8.1 14.3 30.5 90

91 Direct investment abroad 86.3 15.9 145.1 -144.4 -35.7 -145.6 -47.6 5.9 -28.4 91

92 Liabilities 939.1 2393.9 1868.5 -5495.7 2379.6 2099.7 383.2 1973.3 5135.0 92

93 Corporate equity 898.2 2412.7 1841.4 -5394.5 2548.1 2114.5 473.9 1965.2 5140.7 93

94 Foreign direct investment in the United States 41.0 -18.8 27.1 -101.2 -168.5 -14.8 -90.7 8.1 -5.7 94

95 Changes in net worth due to nominal holding gains/losses 87.3 -1389.4 -247.1 4187.9 -5022.7 -1374.4 384.1 -1388.4 -3761.2 95

 Changes in balance sheet account

96 Change in net worth (lines 28+33+79+95) (4) 803.0 -426.0 751.6 3748.2 -4506.4 -408.1 918.6 -1011.3 -2914.6 96

 Balance sheet account (end of period)

97 Total assets 26068.7 28197.7 31172.1 29515.0 27183.5 28957.8 30545.3 32168.0 34941.9 97

98 Nonfinancial assets (5) 14168.0 15538.3 17419.3 16591.8 13866.0 14941.1 16039.7 16902.4 18561.3 98

99 Real estate 7924.3 8893.0 10381.9 9360.0 6767.5 7545.7 8275.3 8831.4 10236.1 99

100 Equipment 3297.8 3513.6 3673.4 3857.2 3793.1 3853.6 4008.0 4138.0 4261.7 100

101 Intellectual property products 1322.0 1401.1 1492.3 1564.1 1600.7 1669.1 1746.9 1839.4 1916.9 101

102 Inventories 1623.9 1730.5 1871.7 1810.5 1704.6 1872.7 2009.6 2093.6 2146.6 102

103 Financial assets 11900.6 12659.5 13752.8 12923.2 13317.5 14016.8 14505.6 15265.6 16380.6 103

104 Currency and deposits 781.9 697.1 634.7 420.7 675.2 823.8 860.9 914.0 1094.6 104

105 Currency and transferable deposits 268.0 150.7 143.1 84.2 154.9 234.5 264.2 279.4 357.3 105

106 Time and savings deposits 450.4 497.0 441.3 311.9 488.8 548.7 561.9 598.8 649.5 106

107 Foreign deposits 63.6 49.3 50.3 24.7 31.5 40.6 34.8 35.8 87.8 107
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142 Historical Annuals, 2005-2013, September 18, 2014

S.5.a Nonfinancial Corporate Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

108 Debt securities 212.6 211.4 149.7 124.1 140.4 155.9 147.4 136.5 99.7 108

109 Open market paper 111.0 122.7 69.5 57.3 56.0 68.0 67.9 59.8 38.0 109

110 Treasury securities 52.1 45.5 38.3 30.5 43.0 48.0 43.0 39.5 40.2 110

111 Agency- and GSE-backed securities (1) 17.4 15.2 12.8 10.2 14.3 16.0 14.3 13.2 9.4 111

112 Municipal securities 32.1 28.1 29.2 26.2 27.1 23.9 22.3 24.0 12.1 112

113 Loans 142.4 127.5 105.8 96.1 90.6 85.6 87.4 85.5 78.1 113

114 Short term 74.1 67.7 64.5 62.4 61.0 57.6 60.0 58.9 52.4 114

115 Security repurchases 14.6 15.5 8.1 7.2 7.9 12.1 12.6 9.7 8.8 115

116 Consumer credit 59.6 52.1 56.4 55.2 53.2 45.5 47.4 49.2 43.5 116

117 Long term (mortgages) 68.3 59.8 41.4 33.6 29.5 28.0 27.4 26.6 25.8 117

118 Equity and investment fund shares 2809.9 3175.9 3701.6 3925.3 4134.3 4148.8 4457.1 4813.9 5189.6 118

119 Money market fund shares 352.2 421.3 548.5 727.0 655.5 497.8 462.4 480.6 521.1 119

120 Mutual fund shares 134.4 173.2 178.0 106.3 162.0 186.8 165.9 180.1 211.4 120

121 U.S. direct investment abroad 2205.7 2440.7 2892.9 3011.1 3245.1 3402.9 3759.2 4081.0 4370.0 121

122 Equity in government-sponsored enterprises (1) 0.5 0.6 0.7 0.4 0.4 0.6 0.5 0.6 0.6 122

123 Investment in finance company subsidiaries 117.0 140.1 81.5 80.5 71.2 60.7 69.1 71.7 86.4 123

124 Insurance, pension and standardized guarantee schemes (2) 283.9 291.5 299.8 310.9 307.0 318.7 328.8 336.4 329.8 124

125 Other accounts receivable 7670.0 8156.1 8861.1 8046.1 7970.0 8483.9 8623.9 8979.2 9588.7 125

126 Trade receivables 2108.2 2095.4 2255.2 2085.7 2054.5 2156.5 2240.3 2324.0 2469.4 126

127 Other (miscellaneous assets) 5561.7 6060.7 6605.8 5960.5 5915.5 6327.4 6383.6 6655.3 7119.3 127

128 Total liabilities and net worth 26068.7 28197.7 31172.1 29515.0 27183.5 28957.8 30545.3 32168.0 34941.9 128

129 Liabilities 23868.3 26423.4 28646.2 23240.9 25415.8 27598.3 28267.1 30901.2 36589.5 129

130 Debt securities 2980.0 3130.4 3328.9 3519.1 3699.0 3936.1 4139.8 4493.4 4797.5 130

131 Open market paper 90.1 112.5 123.8 131.5 58.4 82.9 116.3 130.3 144.5 131

132 Municipal securities 227.3 280.6 349.0 415.0 452.2 485.4 493.9 509.1 518.5 132

133 Corporate bonds 2662.6 2737.3 2856.1 2972.6 3188.4 3367.8 3529.5 3853.9 4134.5 133

134 Loans 2280.7 2539.2 2998.7 3065.8 2443.2 2068.3 2125.0 2219.9 2320.5 134

135 Short term 1494.3 1641.4 2031.7 2163.8 1684.8 1425.3 1554.4 1644.6 1717.9 135

136 Depository institution loans n.e.c. 590.9 612.9 715.7 779.9 545.8 477.1 546.0 607.9 654.4 136

137 Other loans and advances 903.4 1028.4 1316.0 1383.9 1139.0 948.1 1008.3 1036.8 1063.5 137

138 Long term (mortgages) 786.4 897.9 967.1 902.0 758.3 643.0 570.7 575.3 602.5 138

139 Equity and investment fund shares 14236.0 16325.1 17692.7 12066.9 14498.6 16500.3 16619.5 18403.3 23372.0 139

140 Corporate equity 12686.6 14602.3 15730.7 10016.6 12512.2 14371.6 14388.7 15994.4 20761.7 140

141 Foreign direct investment in the United States 1549.4 1722.7 1961.9 2050.3 1986.4 2128.7 2230.7 2408.9 2610.3 141

142 Insurance, pension and standardized guarantee schemes 14.6 35.9 48.5 761.4 573.0 537.4 611.0 471.2 212.2 142

143 Pension fund contributions payable 44.8 64.7 69.3 84.0 75.4 90.8 93.8 81.4 80.9 143

144 Claim of pension fund on sponsor -30.1 -28.8 -20.8 677.4 497.6 446.5 517.2 389.8 131.4 144

145 Other accounts payable 4357.0 4392.8 4577.3 3827.7 4202.0 4556.2 4771.9 5313.3 5887.3 145

146 Trade payables 1700.5 1812.9 1897.9 1672.7 1590.1 1746.4 1771.6 1854.8 1968.2 146

147 Taxes payable 86.2 85.4 35.8 39.0 35.7 42.9 51.7 54.0 44.6 147

148 Miscellaneous liabilities 2570.2 2494.5 2643.6 2116.1 2576.3 2767.0 2948.6 3404.5 3874.4 148

149 Net worth 2200.3 1774.3 2525.9 6274.1 1767.7 1359.6 2278.2 1266.9 -1647.7 149

Notes. Nonfinancial corporate business includes corporate farms that are excluded from the nonfinancial corporate business sector in the Financial Accounts of the United States.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) Net equity in reserves of property-casualty insurance companies.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Financial Accounts of the United States.

(5) Excludes nonproduced nonfinancial assets.

n.e.c. Not elsewhere classified
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Historical Annuals, 2005-2013, September 18, 2014 143

S.6.a Financial Business

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Current account

 1 Gross value added 1034.3 1127.6 1068.8 851.9 1015.4 1042.8 1045.8 1178.3 1307.1 1

 2 Less: Consumption of fixed capital 148.9 156.8 165.4 173.9 177.4 176.7 168.6 174.1 182.2 2

 3 Equals: Net value added 885.5 970.9 903.4 678.1 838.0 866.1 877.2 1004.1 1124.9 3

 4 Compensation of employees (paid) 535.4 579.8 618.2 612.9 549.0 574.3 606.8 631.1 642.3 4

 5 Wages and salaries 449.4 490.8 527.1 517.9 466.2 486.4 513.5 537.5 546.7 5

 6 Employers’ social contributions 86.0 89.0 91.1 95.0 82.8 87.9 93.3 93.7 95.5 6

 7 Taxes on production and imports less subsidies 49.5 52.5 54.7 55.6 64.2 64.8 58.3 61.2 62.8 7

 8 Operating surplus, net 300.6 338.5 230.5 9.5 224.8 227.1 212.1 311.8 419.8 8

 9 Net national income/Balance of primary incomes, net 200.3 205.2 110.7 -2.1 290.1 376.8 320.0 309.0 249.3 9

10 Operating surplus, net 300.6 338.5 230.5 9.5 224.8 227.1 212.1 311.8 419.8 10

11 Property income (received) 2154.2 2747.1 3200.8 2833.1 2203.8 2126.7 2109.1 2081.6 2016.3 11

12 Interest 1922.3 2444.6 2831.9 2444.8 1877.4 1749.5 1722.4 1662.3 1578.1 12

13 Distributed income of corporations (dividends) 229.0 261.6 323.1 338.8 275.7 308.9 319.5 361.3 372.7 13

14 Reinvested earnings on U.S. direct investment abroad 2.9 40.9 45.7 49.5 50.7 68.3 67.2 57.9 65.5 14

15 Less: Uses of property income (paid) 2254.5 2880.4 3320.6 2844.7 2138.6 1977.0 2001.2 2084.4 2186.8 15

16 Interest 1820.9 2379.0 2754.2 2321.6 1679.7 1505.2 1504.6 1470.2 1426.9 16

17 Distributed income of corporations 425.5 488.6 556.9 515.8 455.1 460.8 481.5 595.2 741.0 17

18 Dividends 377.9 438.6 517.0 492.8 380.8 376.0 427.2 521.0 662.5 18

19 Withdrawals from income of quasi-corporations (1) 47.7 50.0 39.8 23.0 74.4 84.9 54.3 74.2 78.5 19

20 Reinvested earnings on foreign direct investment 8.0 12.8 9.5 7.3 3.7 10.9 15.1 18.9 18.9 20

21 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net 200.3 205.2 110.7 -2.1 290.1 376.8 320.0 309.0 249.3 22

23 Less: Current taxes on income, wealth, etc. (paid) 140.5 165.7 151.7 81.7 91.6 150.0 150.3 183.4 144.9 23

24 Less: Other current transfers (paid) -13.4 -21.1 7.5 45.6 26.5 18.4 20.0 -21.6 2.7 24

25 Equals: Disposable income, net 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 147.2 101.7 25

26 Equals: Net saving 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 147.2 101.7 26

 Capital account

27 Net saving less capital transfers 45.4 60.7 -48.5 -68.9 293.9 249.9 182.1 137.6 101.7 27

28 Net saving 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 147.2 101.7 28

29 Less: Capital transfers paid (net) 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 9.6 0.0 29

30 Capital formation, net 31.1 31.9 46.1 22.3 -10.5 -13.9 -1.2 16.1 19.2 30

31 Gross fixed capital formation (nonresidential) 180.0 188.7 211.5 196.2 166.9 162.8 167.5 190.2 201.5 31

32 Less: Consumption of fixed capital 148.9 156.8 165.4 173.9 177.4 176.7 168.6 174.1 182.2 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) 14.3 28.8 -94.6 -91.2 304.4 263.8 183.3 121.5 82.5 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 14.3 28.8 -94.6 -91.2 304.4 263.8 183.3 121.5 82.5 34

35 Net acquisition of financial assets 3771.1 4626.7 5484.2 3799.7 -1278.3 2.2 2137.5 1824.9 3545.8 35

36 Monetary gold -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 Currency and deposits -12.2 74.7 170.6 1009.7 228.2 -143.6 528.7 -44.2 827.7 37

38 Debt securities 641.7 1101.4 982.2 836.4 730.1 783.4 1275.0 1099.9 1486.6 38

39 SDR certificates 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 39

40 Open market paper 193.8 232.9 -120.5 5.7 -389.8 -93.3 -76.0 -2.2 34.3 40

41 Treasury securities 52.1 85.2 36.4 442.6 366.3 504.0 977.2 295.6 529.1 41

42 Agency- and GSE-backed securities (2) -249.9 97.2 283.5 726.9 680.6 52.2 158.7 222.1 436.5 42

43 Municipal securities 115.7 131.2 184.7 42.2 38.4 44.2 13.4 138.3 7.4 43

44 Corporate and foreign bonds 490.1 519.3 564.8 -444.2 -30.2 210.6 130.9 405.7 381.0 44

45 Nonmarketable government securities 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 98.2 45

46 Loans 2064.8 2110.5 2694.2 1455.6 -2944.4 -507.6 153.2 441.9 158.8 46

47 Short term 653.2 710.3 1563.4 1224.3 -2877.7 -192.9 306.9 497.7 54.6 47

48 Long term (mortgages) 1411.6 1400.2 1130.8 231.3 -66.7 -314.7 -153.7 -55.7 104.2 48

49 Equity and investment fund shares 543.9 513.2 1245.3 852.5 25.2 -132.6 -75.6 36.6 294.8 49

50 Corporate equities 289.5 185.5 430.9 223.5 155.0 84.6 -58.9 36.6 203.0 50

51 Mutual fund shares 54.0 104.0 101.8 56.6 64.5 16.0 -57.1 -73.1 21.7 51

52 Money market mutual fund shares 12.0 -6.6 331.2 283.6 -175.4 -172.6 -71.3 -51.6 -56.0 52

53 Equity in government-sponsored enterprises (2) 2.0 -0.0 8.3 -5.3 0.0 -3.2 -6.2 -2.0 -0.2 53

54 U.S. direct investment abroad 11.5 25.8 107.0 66.4 40.7 -2.3 15.2 17.1 32.1 54

55 Stock in Federal Reserve Banks 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 0.1 55

56 Investment in subsidiaries 173.2 202.8 263.1 225.0 -64.1 -56.0 102.4 109.1 94.0 56
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57 Insurance, pension and standardized guarantee schemes 209.5 276.6 218.0 253.7 505.4 314.6 341.2 360.1 325.5 57

58 Other accounts receivable 323.4 550.2 173.8 -608.2 177.2 -312.0 -84.9 -69.4 452.4 58

59 Net incurrence of liabilities 3429.8 4371.2 5364.4 3960.0 -1307.8 28.7 2108.6 1707.6 3383.6 59

60 Currency and deposits 608.9 620.6 548.7 2146.1 262.3 334.1 1457.3 595.0 1850.2 60

61 Debt securities 1039.8 1319.9 1522.4 441.9 -956.5 -693.4 -325.8 -304.7 106.7 61

62 Agency- and GSE-backed securities (2) 80.4 328.2 905.7 768.7 -60.1 -46.9 -21.9 -22.4 239.9 62

63 Corporate bonds 745.2 795.3 728.2 -201.4 -448.4 -544.3 -235.8 -223.5 -84.3 63

64 Commercial paper 214.2 196.4 -111.5 -125.4 -448.1 -102.2 -68.2 -58.8 -48.9 64

65 Loans 547.3 589.9 882.8 -155.5 -1646.0 -59.6 197.7 130.7 -217.7 65

66 Short term 533.2 583.4 878.1 -162.3 -1657.8 -60.5 184.3 125.8 -225.5 66

67 Long term (mortgages) 14.1 6.6 4.7 6.8 11.8 0.8 13.5 4.8 7.8 67

68 Equity and investment fund shares 698.0 931.5 1469.0 1717.3 270.5 73.8 506.1 973.5 981.9 68

69 Money market mutual fund shares 125.1 303.1 736.8 724.2 -498.7 -503.2 -112.8 7.1 28.7 69

70 Corporate equity issues 78.4 60.0 179.6 639.2 315.9 191.4 164.1 168.3 163.5 70

71 Mutual fund shares 260.2 336.8 361.5 -9.9 497.1 370.1 338.4 624.9 638.8 71

72 Equity in government-sponsored enterprises (2) 1.9 0.2 9.1 -4.2 0.0 -2.7 -5.9 -1.8 0.5 72

73 Foreign direct investment in the United States 13.9 52.0 9.3 120.7 45.7 48.5 43.4 4.5 28.7 73

74 Equity in noncorporate business -1.2 -6.8 3.6 11.6 0.6 0.9 -2.9 6.7 -3.9 74

75 Investment by parent 218.1 184.4 166.1 233.0 -94.5 -32.0 81.5 163.3 125.6 75

76 Stock in Federal Reserve Banks 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 0.1 76

77 Insurance, pension and standardized guarantee schemes 690.1 700.0 725.0 585.4 541.2 646.2 639.4 488.0 547.7 77

78 Other accounts payable -154.3 209.1 216.5 -775.3 220.7 -272.3 -366.1 -174.8 114.8 78

 Addendum:

79 Net lending (+) or borrowing (-), financial account (lines 35-59) 341.3 255.5 119.7 -160.3 29.5 -26.5 28.8 117.3 162.2 79

 Other changes in volume account

80 Total other volume changes 36.4 -419.1 -71.4 1232.3 -1062.6 -864.2 -119.7 -430.2 -1003.7 80

81 Disaster losses -1.7 0.0 0.0 -0.6 0.0 0.0 0.0 -2.0 0.0 81

82 Other volume changes -288.9 -645.8 -285.7 1302.0 -787.7 -573.9 34.7 -423.9 -1083.4 82

83 Less: Statistical discrepancy (lines 33-79) (3) -327.0 -226.7 -214.3 69.1 274.9 290.3 154.4 4.3 -79.7 83

 Revaluation account

84 Nonfinancial assets 56.6 51.1 13.6 40.1 -64.0 -8.5 34.3 11.9 23.5 84

85 Structures (nonresidential) 63.4 54.9 26.5 45.5 -46.7 -1.4 29.5 12.5 25.7 85

86 Equipment -3.6 -2.1 -9.2 -0.9 -8.4 -1.4 6.1 1.6 -0.7 86

87 Intellectual property products -3.1 -1.6 -3.8 -4.6 -8.8 -5.7 -1.4 -2.2 -1.4 87

88 Financial assets 938.3 1801.8 769.1 -6082.2 2729.8 1745.6 -632.7 1910.0 3816.8 88

89 Corporate equities 613.1 1457.9 620.2 -5119.6 2162.3 1418.1 -531.3 1538.1 3171.1 89

90 Mutual fund shares 294.5 308.2 103.2 -973.3 513.3 286.8 -55.9 337.4 655.6 90

91 U.S. direct investment abroad 30.7 35.7 45.8 10.8 54.2 40.7 -45.5 34.5 -10.0 91

92 Liabilities 890.2 1850.1 -530.5 -6514.1 2225.9 1615.1 -829.2 1944.1 3911.7 92

93 Corporate equity issues 262.4 716.1 -985.4 -2366.0 386.8 525.9 -388.8 692.3 1370.8 93

94 Mutual fund shares 352.4 682.6 396.0 -2424.7 1035.6 582.2 -340.4 720.2 1579.9 94

95 Foreign direct investment in the United States 9.4 22.5 -56.7 -157.6 17.9 34.1 28.9 12.5 -48.2 95

96 Equity in noncorporate business 1.7 4.8 -0.6 -13.6 3.6 0.3 -1.2 -1.3 4.2 96

97 Pension fund reserves 264.2 424.0 116.1 -1552.2 782.7 474.6 -127.3 520.5 1005.0 97

98 Investment by parent 0.0 0.0 0.0 0.0 -0.6 -2.0 -0.3 -0.1 0.0 98

99 Changes in net worth due to nominal holding gains/losses 104.8 2.8 1313.2 472.0 439.9 122.0 230.8 -22.2 -71.5 99

 Changes in balance sheet account

100 Change in net worth (lines 30+33+80+99) 186.5 -355.6 1193.3 1635.4 -328.8 -492.3 293.2 -314.8 -973.4 100

 Balance sheet account (end of period)

101 Total assets 57468.5 63336.5 69523.7 68918.7 69914.1 70997.1 72589.4 76743.1 82657.4 101

102 Nonfinancial assets (4) 1306.8 1397.8 1466.3 1538.9 1477.8 1469.8 1507.0 1537.2 1584.2 102

103 Structures (nonresidential) 751.8 813.8 853.5 911.8 869.3 860.5 878.9 881.4 899.2 103

104 Equipment 445.4 468.8 487.9 492.6 464.2 465.4 479.1 498.3 519.0 104

105 Intellectual property products 109.5 115.1 125.0 134.6 144.3 143.9 149.0 157.6 166.1 105
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2005 2006 2007 2008 2009 2010 2011 2012 2013

 

106 Financial assets 56161.7 61938.7 68057.4 67379.7 68436.3 69527.3 71082.5 75205.9 81073.2 106

107 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 107

108 Currency and deposits 764.8 814.5 987.4 2032.9 2275.7 2177.8 2706.7 2686.7 3513.1 108

109 Debt securities 14758.1 15771.7 16757.5 17598.2 18350.8 18559.5 19834.3 21026.4 22426.0 109

110 SDR certificates 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 110

111 Open market paper 1124.7 1353.0 1236.1 1243.2 853.2 764.2 688.4 686.0 720.0 111

112 Treasury securities 1647.4 1737.2 1773.7 2216.3 2582.6 3086.6 4063.7 4371.4 4900.5 112

113 Agency- and GSE-backed securities (2) 4140.2 4153.1 4436.6 5163.5 5898.5 5487.9 5646.6 5882.9 6310.9 113

114 Municipal securities 1346.1 1477.0 1661.7 1703.9 1742.3 1786.5 1799.9 1938.1 1945.6 114

115 Corporate and foreign bonds 5614.6 6130.5 6695.3 6253.9 6191.8 6286.2 6416.8 6888.7 7191.6 115

116 Nonmarketable government securities 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 116

117 Loans 19781.7 21829.1 24481.1 25800.4 22567.9 21817.3 21817.5 22285.7 22325.8 117

118 Short term 8152.1 8775.6 10328.6 11552.6 8622.4 8503.8 8810.8 9481.4 9509.1 118

119 Long term (mortgages) 11629.6 13053.4 14152.5 14247.8 13945.6 13313.5 13006.7 12804.3 12816.7 119

120 Equity and investment fund shares 15535.6 17403.0 19417.4 14187.8 17619.0 19231.9 18523.6 20896.8 24957.4 120

121 Corporate equities 10376.3 11520.2 12571.3 7675.1 9992.5 11495.2 10905.0 12479.7 15853.9 121

122 Mutual fund shares 2180.7 2557.7 2762.7 1846.0 2423.7 2726.6 2613.5 2877.9 3555.2 122

123 Money market fund shares 516.4 563.9 895.0 1178.6 1003.2 830.6 759.3 707.6 651.7 123

124 Equity in government-sponsored enterprises (2) 42.0 42.0 50.3 45.0 45.0 41.7 35.5 33.5 33.4 124

125 U.S. direct investment abroad 446.0 507.4 660.2 737.4 832.3 870.7 840.3 891.9 914.0 125

126 Stock in Federal Reserve Banks 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 27.5 126

127 Investment in subsidiaries 1960.6 2196.5 2459.6 2684.6 3296.6 3240.6 3343.0 3878.8 3921.7 127

128 Insurance, pension and standardized guarantee schemes 2304.7 2367.7 2478.0 4156.7 4030.0 4399.3 4810.6 4728.6 4102.5 128

129 Other accounts receivable 3005.7 3741.8 3924.9 3592.7 3581.9 3330.4 3378.8 3570.6 3737.4 129

130 Total liabilities and net worth 57468.5 63336.5 69523.7 68918.7 69914.1 70997.1 72589.4 76743.1 82657.4 130

131 Liabilities 58641.8 64865.5 69859.4 67619.0 68943.2 70518.5 71817.7 76286.1 83173.9 131

132 Currency and deposits 8082.9 8703.5 9252.2 11398.3 11660.6 11990.6 13447.9 14015.0 15865.2 132

133 Debt securities 11964.7 13254.8 14888.1 15249.9 14497.2 13432.4 13032.6 12849.3 12888.1 133

134 Agency- and GSE-backed securities (2) 6140.7 6468.9 7374.6 8143.4 8083.3 7574.0 7552.1 7529.7 7769.7 134

135 Corporate bonds 4653.8 5422.4 6261.4 5980.2 5735.6 5282.4 4972.6 4870.5 4718.3 135

136 Commercial paper 1170.2 1363.5 1252.1 1126.3 678.2 576.0 507.9 449.1 400.2 136

137 Loans 5029.8 5616.5 6499.3 6343.8 4768.4 4720.7 4913.1 5106.5 4888.8 137

138 Short term 4884.3 5464.5 6342.6 6180.3 4593.2 4544.6 4723.5 4912.1 4686.6 138

139 Long term (mortgages) 145.5 152.1 156.7 163.5 175.3 176.1 189.5 194.4 202.2 139

140 Equity and investment fund shares 15146.2 17537.1 18355.7 15111.2 17501.1 18678.2 18482.5 21416.2 25253.9 140

141 Money market fund shares 1993.1 2296.3 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2678.3 141

142 Corporate equity issues 4631.9 5408.0 4602.2 2875.4 3578.1 4295.4 4070.7 4931.3 6465.6 142

143 Mutual fund shares 6045.6 7065.0 7822.6 5388.0 6920.7 7873.0 7870.9 9326.1 11544.8 143

144 Equity in government-sponsored enterprises (2) 46.7 46.9 56.0 51.8 51.8 49.0 43.1 41.2 41.7 144

145 Foreign direct investment in the United States 353.2 427.8 380.4 343.5 407.0 489.6 561.9 578.9 559.3 145

146 Equity in noncorporate business 11.7 9.7 12.6 10.7 14.8 15.9 11.9 17.3 17.6 146

147 Investment by parent 2050.4 2268.1 2430.5 2663.5 3244.5 3173.4 3254.6 3844.4 3919.0 147

148 Stock in Federal Reserve Banks 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 27.5 148

149 Insurance, pension and standardized guarantee schemes 15953.5 17092.0 17985.7 16892.5 18265.7 19932.4 20472.2 21510.0 23046.8 149

150 Other accounts payable 2464.7 2661.5 2878.4 2623.3 2250.1 1764.2 1469.5 1389.2 1231.0 150

151 Net worth -1173.3 -1529.0 -335.7 1299.7 970.9 478.5 771.7 456.9 -516.5 151

Notes. Financial business includes depository institutions, insurance companies and pension funds, monetary authority, and other financial institutions.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.

SDRs Special Drawing Rights
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2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Current account

 1 Gross value added 552.7 577.6 605.4 637.6 668.8 704.5 720.9 722.7 711.3 1

 2 Less: Consumption of fixed capital 189.4 200.7 212.8 226.3 234.5 245.3 257.4 264.1 268.0 2

 3 Equals: Net value added 363.3 376.9 392.6 411.3 434.3 459.1 463.5 458.6 443.3 3

 4 Compensation of employees (paid) 362.4 375.1 390.5 410.4 433.5 462.2 470.6 467.8 458.6 4

 5 Wages and salaries 263.5 271.7 283.3 296.7 312.2 328.5 331.7 327.1 320.6 5

 6 Employers’ social contributions 98.9 103.5 107.3 113.7 121.3 133.7 138.9 140.7 138.1 6

 7 Operating surplus, net 0.9 1.8 2.0 0.8 0.7 -3.1 -7.1 -9.1 -15.3 7

 8 Net national income/Balance of primary incomes, net -277.4 -293.5 -325.6 -308.9 -269.9 -286.6 -327.3 -321.8 -206.8 8

 9 Operating surplus, net 0.9 1.8 2.0 0.8 0.7 -3.1 -7.1 -9.1 -15.3 9

10 Taxes on production and imports, receivable 99.4 99.2 94.6 94.0 91.4 96.8 108.6 115.0 120.9 10

11 Subsidies (paid) -60.5 -51.1 -47.5 -49.6 -56.9 -54.3 -59.5 -57.6 -59.7 11

12 Property income (received) 27.2 29.0 33.4 33.9 48.5 54.6 56.4 53.6 164.7 12

13 Interest 17.3 18.8 22.1 19.5 22.8 29.5 27.7 22.3 24.4 13

14 Distributed income of corporations (dividends) 0.2 0.3 0.2 0.6 18.7 17.0 18.8 21.1 131.3 14

15 Rents on land and natural resources 9.7 9.9 11.1 13.8 7.0 8.0 9.9 10.2 9.0 15

16 Less: Uses of property income (interest paid) 344.4 372.3 408.2 388.0 353.6 380.6 425.7 423.8 417.4 16

17 Net national income/Balance of primary incomes, net -277.4 -293.5 -325.6 -308.9 -269.9 -286.6 -327.3 -321.8 -206.8 17

18 Plus: Current taxes on income, wealth, etc. (received) 1285.2 1459.2 1542.5 1354.1 1072.4 1208.2 1392.7 1536.5 1690.9 18

19 Plus: Social benefits (received) 853.4 905.7 947.2 974.4 950.8 970.9 904.0 938.1 1092.3 19

20 Less: Social contributions (paid) 1090.9 1196.7 1272.2 1407.4 1624.9 1726.6 1744.4 1785.1 1825.6 20

21 Plus: Other current transfers (received) 32.0 36.8 41.0 46.5 64.0 64.4 65.0 49.9 59.5 21

22 Less: Other current transfers (paid) 383.5 374.7 400.2 412.9 507.5 555.0 528.0 493.2 496.3 22

23 Equals: Disposable income, net 418.7 536.9 532.7 245.8 -315.1 -324.8 -238.1 -75.5 313.9 23

24 Less: Final consumption expenditures 723.4 763.9 798.4 879.8 933.7 1003.9 1006.1 1003.6 963.0 24

25 Equals: Net saving -304.7 -227.0 -265.6 -634.0 -1248.8 -1328.7 -1244.1 -1079.1 -649.1 25

 Capital account

26 Net saving less capital transfers -365.1 -270.2 -318.6 -751.6 -1435.1 -1455.0 -1358.0 -1163.9 -707.5 26

27 Net saving -304.7 -227.0 -265.6 -634.0 -1248.8 -1328.7 -1244.1 -1079.1 -649.1 27

28 Less: Capital transfers paid (net) 60.3 43.2 53.0 117.6 186.3 126.3 113.9 84.7 58.4 28

29 Capital formation, net 31.5 22.9 35.3 29.1 40.6 53.7 39.1 21.7 -2.0 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 222.9 238.0 251.4 275.8 284.0 300.0 297.4 287.8 268.5 30

31 Less: Consumption of fixed capital 189.4 200.7 212.8 226.3 234.5 245.3 257.4 264.1 268.0 31

32 Acquisition of nonproduced nonfinancial assets -2.0 -14.4 -3.3 -20.4 -8.9 -1.0 -0.9 -1.9 -2.4 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -396.6 -293.2 -353.9 -780.6 -1475.7 -1508.7 -1397.1 -1185.6 -705.6 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -396.6 -293.2 -353.9 -780.6 -1475.7 -1508.7 -1397.1 -1185.6 -705.6 34

35 Net acquisition of financial assets 30.8 -14.4 0.6 580.0 237.8 281.9 -150.7 132.4 217.4 35

36 Monetary gold and SDRs -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 36

37 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 SDR holdings -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 38

39 Currency and deposits 1.3 -5.4 25.8 316.0 -170.2 150.5 -239.9 11.1 65.8 39

40 Official foreign currencies 0.3 0.4 0.5 0.6 0.3 0.3 -0.2 0.2 0.2 40

41 Reserve position in IMF (net) -10.2 -3.3 -1.0 3.5 3.4 1.3 18.2 4.0 -3.4 41

42 Currency and transferable deposits 12.2 -2.7 25.1 313.1 -174.2 148.9 -257.6 6.7 69.6 42

43 Time and savings deposits -1.0 0.2 1.2 -1.3 0.3 0.1 -0.3 0.2 -0.5 43

44 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 44

45 Debt securities 0.0 0.0 0.0 54.4 142.5 -46.9 -118.2 -31.3 -0.1 45

46 Agency- and GSE-backed securities 0.0 0.0 0.0 54.4 142.0 -47.2 -118.1 -31.1 0.0 46

47 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.6 0.3 -0.1 -0.2 -0.1 47

48 Loans -3.1 5.9 6.8 39.0 166.7 131.4 136.5 136.2 124.2 48

49 Short term -5.5 2.2 4.7 25.5 154.1 136.8 133.2 134.5 120.3 49

50 Consumer credit 3.7 1.6 7.0 19.5 87.9 133.1 128.5 132.1 113.1 50

51 Other loans and advances -9.2 0.5 -2.3 6.1 66.2 3.6 4.8 2.4 7.2 51

52 Long term (mortgages) 2.4 3.7 2.1 13.5 12.6 -5.4 3.3 1.6 4.0 52

53 Equity and investment fund shares 1.3 2.0 1.7 257.7 3.4 30.4 43.5 -10.7 -2.6 53

54 Corporate equities 0.0 0.0 0.0 256.3 0.6 24.1 40.3 -13.2 -4.8 54

55 Equity in international organizations 1.3 2.0 1.7 1.4 1.7 2.3 2.6 2.4 2.2 55

56 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 1.2 4.0 0.7 0.0 0.0 57
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58 Other accounts receivable 35.8 -17.1 -33.8 -87.2 47.1 16.5 29.1 27.1 30.0 58

59 Trade receivables 9.2 -11.6 1.2 4.2 -21.1 -0.7 4.8 2.6 -1.5 59

60 Taxes receivable 26.0 -6.5 -35.4 -62.0 35.9 27.1 25.6 27.9 27.8 60

61 Other (miscellaneous assets) 0.6 1.0 0.4 -29.4 32.3 -9.8 -1.3 -3.5 3.7 61

62 Net incurrence of liabilities 453.6 296.0 391.2 1369.0 1536.0 1696.8 1201.7 1251.6 880.7 62

63 SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 63

64 Currency and deposits 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 0.0 -0.4 64

65 Debt securities 346.9 219.1 270.4 1302.5 1508.8 1645.9 1138.7 1180.6 857.3 65

66 SDR certificates 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 66

67 Treasury securities including savings bonds 307.3 183.7 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 759.5 67

68 Federal agency securities -0.4 -0.3 -0.4 0.2 0.1 0.7 1.1 -0.4 -0.4 68

69 Nonmarketable securities held by pension plans 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 98.2 69

70 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 70

71 Insurance, pension and standardized guarantee schemes 67.2 64.5 92.7 45.1 33.3 43.5 40.6 63.9 5.6 71

72 Insurance reserves 1.1 1.5 1.2 1.0 1.1 0.9 1.3 0.3 0.3 72

73 Retiree Health Care Funds 23.0 18.1 43.9 26.5 16.6 22.5 18.5 13.3 12.2 73

74 Claims of pension fund on sponsor 43.1 44.9 47.7 17.6 15.6 20.2 20.8 50.3 -6.8 74

75 Other accounts payable 38.7 11.8 28.7 22.2 -53.3 7.6 22.4 7.1 18.1 75

76 Trade payables 33.7 6.2 29.3 22.6 -56.2 5.2 8.8 15.4 16.8 76

77 Other (miscellaneous liabilities) 5.0 5.6 -0.6 -0.3 2.9 2.4 13.6 -8.3 1.3 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-62) -422.8 -310.4 -390.6 -789.0 -1298.2 -1414.9 -1352.4 -1119.3 -663.3 78

 Other changes in volume account

79 Total other volume changes -47.0 30.2 9.7 86.7 121.5 -32.0 46.4 39.2 26.9 79

80 Disaster losses -0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 Other volume changes -20.3 47.4 46.4 95.0 -56.0 -125.8 1.7 -27.1 -15.4 81

82 Less: Statistical discrepancy (lines 33-78) (2) 26.2 17.2 36.7 8.3 -177.5 -93.8 -44.7 -66.3 -42.3 82

 Revaluation account

83 Nonfinancial assets 116.8 116.4 93.0 69.0 -36.0 61.3 69.3 41.8 58.9 83

84 Structures 94.1 95.2 60.7 44.0 -48.4 18.1 49.4 36.2 41.1 84

85 Equipment 7.3 10.4 7.6 11.8 8.6 5.0 12.2 0.9 3.3 85

86 Intellectual property products 15.4 10.8 24.8 13.2 3.8 38.2 7.7 4.7 14.5 86

87 Financial assets -2.1 0.8 0.7 -67.9 -121.6 -43.7 -33.2 -4.7 0.1 87

88 Monetary gold and SDRs -0.9 0.4 0.5 -0.2 0.2 -1.0 -0.1 0.1 0.1 88

89 Currency and deposits -1.2 0.3 0.2 -0.0 0.3 -0.2 -0.5 0.0 0.0 89

90 Corporate equities 0.0 0.0 0.0 -67.7 -121.9 -41.5 -32.4 -4.7 0.0 90

91 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 -0.3 -1.0 -0.2 -0.1 0.0 91

92 Liabilities -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 0.1 92

93 SDR allocations -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 0.1 93

94 Changes in net worth due to nominal holding gains/losses 115.3 116.8 93.3 1.2 -157.9 18.5 36.4 37.0 59.0 94

 Changes in balance sheet account

95 Change in net worth (lines 29+33+79+94) -296.8 -123.3 -215.6 -663.7 -1471.5 -1468.5 -1275.3 -1087.6 -621.7 95

 Balance sheet account (end of period)

96 Total assets 3070.2 3238.1 3415.1 4121.6 4229.2 4569.7 4478.1 4649.1 4905.4 96

97 Nonfinancial assets (3) 2426.5 2579.8 2711.3 2829.2 2842.1 2957.5 3066.8 3132.3 3191.7 97

98 Structures 1176.5 1266.6 1325.4 1369.8 1326.1 1352.5 1406.9 1439.7 1472.1 98

99 Equipment 520.7 550.7 576.7 616.2 649.8 680.9 711.0 725.2 732.2 99

100 Intellectual property products 729.3 762.4 809.3 843.2 866.2 924.1 948.9 967.4 987.4 100

101 Financial assets 643.7 658.3 703.8 1292.3 1387.1 1612.2 1411.3 1516.9 1713.7 101

102 Monetary gold and SDRs 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 55.2 102

103 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 SDR holdings 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 55.2 104
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S.7.a Federal Government

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2005 2006 2007 2008 2009 2010 2011 2012 2013

 

105 Currency and deposits 68.0 62.8 88.9 404.8 234.9 385.2 144.8 155.9 221.8 105

106 Official foreign currencies 18.7 20.2 22.2 24.5 25.0 25.7 25.6 24.7 23.6 106

107 Reserve position in IMF (net) 8.1 5.2 4.4 7.8 11.5 12.6 30.3 34.4 31.0 107

108 Currency and transferable deposits 37.0 33.2 56.9 368.3 193.9 342.3 84.6 92.2 163.0 108

109 Time and savings deposits 1.4 1.7 2.8 1.6 1.9 2.0 1.7 2.0 1.5 109

110 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 110

111 Debt securities 0.0 0.0 0.0 54.4 197.0 150.1 31.9 0.6 0.6 111

112 Agency- and GSE-backed securities 0.0 0.0 0.0 54.4 196.4 149.2 31.1 0.0 0.0 112

113 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.6 0.9 0.8 0.6 0.6 113

114 Loans 271.7 294.8 301.6 340.6 507.3 642.3 778.8 915.0 1039.2 114

115 Short term 195.2 214.6 219.3 244.8 398.9 535.7 668.9 803.5 923.7 115

116 Consumer credit 89.8 108.7 115.7 135.1 223.1 356.2 484.7 616.8 729.8 116

117 Other loans and advances 105.3 105.9 103.6 109.7 175.9 179.5 184.3 186.7 193.9 117

118 Long term (mortgages) 76.6 80.3 82.4 95.8 108.4 106.6 109.9 111.5 115.5 118

119 Equity and investment fund shares 43.2 45.3 46.9 237.0 118.2 106.1 117.0 101.5 98.9 119

120 Corporate equities 0.0 0.0 0.0 188.7 67.4 49.9 57.8 39.9 35.1 120

121 Equity in international organizations 43.2 45.3 46.9 48.3 50.0 52.3 54.9 57.3 59.5 121

122 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.9 3.8 4.4 4.4 4.4 123

124 Other accounts receivable 252.5 246.5 257.0 246.2 271.8 271.7 283.7 288.7 298.1 124

125 Trade receivables 71.0 59.4 60.6 64.7 43.6 42.9 47.7 50.3 48.8 125

126 Taxes receivable 91.6 96.1 105.0 119.4 133.9 144.3 152.8 158.6 165.8 126

127 Other (miscellaneous assets) 89.9 91.0 91.4 62.0 94.3 84.5 83.2 79.8 83.4 127

128 Total liabilities and net worth 3070.2 3238.1 3415.1 4121.6 4229.2 4569.7 4478.1 4649.1 4905.4 128

129 Liabilities 7370.3 7661.5 8054.1 9424.2 11003.4 12812.4 13996.0 15254.7 16132.6 129

130 SDR allocations 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 54.4 130

131 Currency and deposits 27.5 28.1 27.4 26.6 26.2 25.9 25.9 25.9 25.6 131

132 Debt securities 5587.0 5806.1 6076.5 7379.0 8887.8 10533.8 11672.5 12853.0 13710.3 132

133 SDR certificates 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 133

134 Treasury securities including savings bonds 4678.0 4861.7 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 12328.3 134

135 Federal agency securities 23.8 23.5 23.1 23.3 23.5 24.2 25.3 24.9 24.5 135

136 Nonmarketable securities held by pension plans 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 136

137 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 137

138 Insurance, pension and standardized guarantee schemes 1540.9 1606.0 1699.5 1746.1 1825.5 1985.0 2021.8 2084.8 2089.3 138

139 Insurance reserves 42.7 44.2 45.4 46.4 47.5 48.4 49.7 50.0 50.3 139

140 Retiree Health Care Funds 75.4 93.5 137.3 163.8 180.4 202.9 221.4 234.8 246.9 140

141 Claims of pension fund on sponsor 1422.8 1468.3 1516.8 1535.8 1597.6 1733.7 1750.7 1800.0 1792.1 141

142 Other accounts payable 208.0 213.9 243.0 265.0 208.5 213.3 221.7 236.7 253.0 142

143 Trade payables 202.6 208.8 238.2 260.7 204.5 209.7 218.5 233.9 250.7 143

144 Other (miscellaneous liabilities) 5.4 5.1 4.9 4.3 4.0 3.6 3.2 2.8 2.3 144

145 Net worth -4300.1 -4423.4 -4639.0 -5302.7 -6774.2 -8242.7 -9518.0 -10605.5 -11227.2 145

Note. The Federal government accounts exclude Federal employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.

IMF International Monetary Fund

SDRs Special Drawing Rights
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S.8.a State and Local Governments

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Current account

 1 Gross value added 1191.7 1250.3 1318.5 1385.2 1419.4 1454.2 1471.4 1491.0 1524.8 1

 2 Less: Consumption of fixed capital 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.8 238.4 2

 3 Equals: Net value added 1034.4 1080.0 1131.9 1185.0 1211.3 1241.5 1249.2 1259.1 1286.4 3

 4 Compensation of employees (paid) 1041.8 1091.1 1150.4 1207.1 1232.6 1261.3 1266.5 1275.3 1300.7 4

 5 Wages and salaries 728.0 763.3 805.6 847.4 862.9 862.6 863.1 871.2 887.5 5

 6 Employers’ social contributions 313.7 327.8 344.9 359.7 369.7 398.7 403.5 404.1 413.2 6

 7 Operating surplus, net -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -17.4 -16.2 -14.3 7

 8 Net national income/Balance of primary incomes, net 804.2 868.3 910.7 901.6 811.0 829.5 864.6 872.4 906.2 8

 9 Operating surplus, net -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -17.4 -16.2 -14.3 9

10 Taxes on production and imports, receivable 835.1 892.7 940.0 947.9 934.8 960.4 994.0 1017.0 1041.6 10

11 Subsidies (paid) -0.4 -0.4 -7.1 -3.0 -1.4 -1.6 -0.5 -0.5 -0.5 11

12 Property income (received) 88.6 107.2 117.9 105.7 87.8 82.6 79.2 78.6 79.7 12

13 Interest 76.8 94.7 104.2 91.0 74.4 69.1 64.8 63.0 63.2 13

14 Distributed income of corporations (dividends) 2.0 2.1 2.2 2.6 2.1 2.3 2.6 3.4 3.7 14

15 Rents on land and natural resources 9.8 10.4 11.5 12.1 11.2 11.2 11.7 12.3 12.7 15

16 Less: Uses of property income (interest paid) 111.8 120.1 121.5 127.0 188.8 192.1 190.7 206.6 200.3 16

17 Net national income/Balance of primary incomes, net 804.2 868.3 910.7 901.6 811.0 829.5 864.6 872.4 906.2 17

18 Plus: Current taxes on income, wealth, etc. (received) 331.4 361.7 381.4 381.0 333.4 345.3 374.3 407.8 430.2 18

19 Plus: Social benefits (received) 24.6 21.5 18.9 18.7 18.6 18.1 18.2 17.7 17.7 19

20 Less: Social contributions (paid) 406.6 403.9 433.3 455.4 492.6 523.8 530.4 540.6 565.4 20

21 Plus: Other current transfers (received) 436.4 438.9 460.9 477.8 566.1 612.0 582.1 556.2 570.8 21

22 Equals: Disposable income, net 1190.0 1286.5 1338.6 1323.7 1236.4 1281.0 1308.9 1313.6 1359.4 22

23 Less: Final consumption expenditures 1256.6 1325.9 1411.4 1488.7 1508.4 1518.3 1524.8 1546.1 1584.5 23

24 Equals: Net saving -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -232.6 -225.1 24

 Capital account

25 Net saving less capital transfers -16.2 18.4 -13.4 -101.8 -204.2 -160.6 -142.1 -158.3 -153.5 25

26 Net saving -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -232.6 -225.1 26

27 Less: Capital transfers paid (net) -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.8 -74.2 -71.6 27

28 Capital formation, net 143.5 155.0 167.9 172.5 167.2 149.7 127.6 108.5 98.4 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 290.8 314.3 340.8 358.8 363.0 351.9 340.5 331.6 327.8 29

30 Less: Consumption of fixed capital 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.8 238.4 30

31 Acquisition of nonproduced nonfinancial assets 10.0 11.0 13.6 13.8 12.3 10.6 9.2 8.7 9.0 31

32 Net lending (+) or borrowing (-), capital account (lines 25-28) -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -266.9 -252.0 32

 Financial account

33 Net lending (+) or borrowing (-) (line 32) -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -266.9 -252.0 33

34 Net acquisition of financial assets 253.9 205.8 240.4 -101.2 17.3 74.9 -13.0 99.3 18.0 34

35 Currency and deposits 18.7 22.5 32.4 26.1 29.5 -0.2 32.2 10.2 19.1 35

36 Currency and transferable deposits 15.8 5.4 -0.4 8.3 19.6 5.7 16.6 -9.4 6.7 36

37 Time and savings deposits 3.0 17.1 32.8 17.8 10.0 -5.9 15.6 19.6 12.4 37

38 Debt securities 155.7 110.2 137.0 -90.6 -41.1 53.8 -49.8 44.4 -33.8 38

39 Open market paper -0.1 -1.4 -2.2 -21.9 -39.0 13.2 -11.1 -5.9 -8.1 39

40 Treasury securities 107.3 58.4 77.8 -46.0 -16.9 7.8 -31.8 46.2 -14.5 40

41 Agency- and GSE-backed securities (1) 35.7 39.1 45.1 -17.7 10.3 23.7 -6.8 -2.3 -13.8 41

42 Municipal securities 1.2 1.4 1.7 0.4 1.0 1.4 0.4 0.5 0.2 42

43 Corporate and foreign bonds 11.5 12.7 14.6 -5.4 3.5 7.8 -0.5 6.0 2.5 43

44 Loans 20.3 21.9 25.4 -15.9 4.5 12.4 -1.2 16.1 8.3 44

45 Short term 5.7 5.7 6.4 -11.9 -4.1 -1.1 -3.4 6.7 4.2 45

46 Long term (mortgages) 14.6 16.1 19.0 -4.0 8.6 13.5 2.2 9.4 4.2 46

47 Equity and investment fund shares 21.5 23.8 27.6 -5.5 9.4 17.0 1.6 12.7 6.6 47

48 Money market fund shares 13.6 15.4 18.0 2.8 10.0 14.1 3.7 7.9 4.7 48

49 Corporate equities 4.4 4.5 5.1 -7.7 -2.2 -0.0 -2.5 3.2 1.3 49

50 Mutual fund shares 3.5 3.9 4.5 -0.6 1.7 2.9 0.3 1.6 0.7 50

51 Other accounts receivable 37.7 27.4 18.1 -15.3 14.9 -8.2 4.3 15.9 17.7 51

52 Trade receivables 17.4 8.9 7.8 -15.4 -4.6 13.1 2.3 5.7 8.4 52

53 Taxes receivable 14.3 12.1 3.0 5.2 -5.8 1.0 2.0 2.0 3.1 53

54 Other (miscellaneous assets) 6.0 6.4 7.3 -5.2 25.3 -22.2 -0.1 8.1 6.2 54
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S.8.a State and Local Governments

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

55 Net incurrence of liabilities 231.3 210.1 300.2 220.2 455.9 383.5 302.2 333.7 290.8 55

56 Debt securities (municipals) 141.1 100.3 146.0 17.1 112.2 68.7 -53.6 -5.7 -39.4 56

57 Short term -1.7 -8.2 16.8 4.6 7.8 -0.7 -10.6 3.8 -10.9 57

58 Other 142.8 108.5 129.2 12.5 104.4 69.3 -42.9 -9.4 -28.6 58

59 Loans (short term) 0.6 0.6 0.7 0.8 0.8 0.9 0.9 0.4 0.5 59

60 Insurance, pension and standardized guarantee schemes 57.7 74.9 116.8 163.7 303.9 275.5 316.5 300.2 290.0 60

 (Claim of pension funds on sponsor)

61 Other accounts payable (trade payables) 31.9 34.3 36.7 38.6 38.9 38.5 38.4 38.8 39.6 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 34-55) 22.6 -4.3 -59.8 -321.4 -438.5 -308.6 -315.2 -234.4 -272.8 62

 Other changes in volume account

63 Total other volume changes 215.7 324.2 231.5 -974.6 358.9 36.5 -45.3 359.0 676.8 63

64 Disaster losses -10.7 0.0 0.0 0.0 0.0 0.0 0.0 -7.6 0.0 64

65 Other volume changes 44.2 191.9 110.1 -927.5 426.0 34.8 0.2 334.1 697.7 65

66 Less: Statistical discrepancy (lines 32-62) (2) -182.3 -132.3 -121.4 47.1 67.2 -1.7 45.6 -32.5 20.9 66

 Revaluation account

67 Nonfinancial assets 473.4 605.0 460.9 411.4 -105.1 175.7 392.7 227.5 225.3 67

68 Structures 472.2 602.7 457.9 403.0 -104.3 171.9 389.2 224.8 222.7 68

69 Equipment 0.4 1.1 0.6 6.6 -1.1 2.4 1.6 1.5 1.3 69

70 Intellectual property products 0.8 1.1 2.4 1.8 0.3 1.4 1.9 1.2 1.3 70

71 Equity and investment fund shares 5.5 16.9 5.1 -61.1 33.5 21.6 2.0 18.6 38.9 71

72 Changes in net worth due to nominal holding gains/losses 478.9 621.8 466.0 350.4 -71.7 197.3 394.7 246.1 264.2 72

 Changes in balance sheet account

73 Change in net worth (lines 28+32+63+72) 678.4 964.4 684.1 -726.1 83.0 73.2 207.3 446.7 787.5 73

 Balance sheet account (end of period)

74 Total assets 8576.2 9547.9 10408.2 10814.7 10911.6 11319.3 11817.2 12271.3 12641.4 74

75 Nonfinancial assets (3) 6259.0 7008.0 7623.1 8193.3 8243.0 8557.5 9068.6 9388.3 9703.2 75

76 Structures 5976.8 6715.1 7314.8 7863.3 7903.6 8207.7 8711.9 9026.8 9335.6 76

77 Equipment 206.9 212.7 221.5 236.4 240.9 245.4 246.5 246.5 247.6 77

78 Intellectual property products 75.3 80.2 86.9 93.6 98.5 104.4 110.2 115.1 120.0 78

79 Financial assets 2317.2 2539.9 2785.0 2621.4 2668.6 2761.8 2748.6 2883.1 2938.2 79

80 Currency and deposits 234.8 257.4 289.8 315.9 345.4 345.2 377.4 406.7 425.8 80

81 Currency and transferable deposits 66.0 71.5 71.1 79.4 99.0 104.6 121.2 117.2 123.9 81

82 Time and savings deposits 168.8 185.9 218.6 236.5 246.4 240.6 256.2 289.5 301.9 82

83 Debt securities 1217.4 1327.7 1464.7 1374.1 1333.0 1386.9 1337.0 1381.5 1347.7 83

84 Open market paper 153.3 151.9 149.8 127.9 88.9 102.1 91.0 85.1 76.9 84

85 Treasury securities 512.3 570.7 648.5 602.6 585.6 593.5 561.7 607.9 593.4 85

86 Agency- and GSE-backed securities (1) 413.4 452.6 497.6 479.9 490.2 513.9 507.0 504.7 490.9 86

87 Municipal securities 6.9 8.3 10.0 10.4 11.5 12.9 13.2 13.7 13.9 87

88 Corporate and foreign bonds 131.5 144.1 158.7 153.3 156.8 164.6 164.1 170.1 172.5 88

89 Loans 288.9 310.8 335.7 318.1 319.1 328.5 325.0 339.1 346.3 89

90 Short term 130.0 135.7 142.1 130.2 126.1 125.0 121.6 128.3 132.5 90

91 Long term (mortgages) 158.9 175.0 193.6 187.9 193.0 203.5 203.4 210.8 213.9 91

92 Equity and investment fund shares 246.6 287.3 320.1 253.4 296.3 334.9 338.5 369.9 415.4 92

93 Money market fund shares 89.9 105.3 123.3 126.1 136.1 150.2 154.0 161.9 166.6 93

94 Corporate equities 116.0 132.9 141.7 91.0 111.8 126.3 125.2 140.7 167.6 94

95 Mutual fund shares 40.7 49.1 55.0 36.3 48.5 58.4 59.3 67.3 81.2 95

96 Other accounts receivable 329.4 356.7 374.8 359.9 374.7 366.3 370.7 385.9 403.0 96

97 Trade receivables 142.5 151.3 159.1 143.7 139.1 152.2 154.5 160.3 168.7 97

98 Taxes receivable 102.3 114.4 117.4 123.0 117.1 117.8 120.0 121.3 123.8 98

99 Other (miscellaneous assets) 84.6 91.0 98.3 93.2 118.5 96.3 96.2 104.3 110.5 99

100 Total liabilities and net worth 8576.2 9547.9 10408.2 10814.7 10911.6 11319.3 11817.2 12271.3 12641.4 100

101 Liabilities 3385.9 3393.2 3569.4 4702.0 4715.8 5050.4 5341.0 5348.4 4931.0 101
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S.8.a State and Local Governments

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2005 2006 2007 2008 2009 2010 2011 2012 2013

 

102 Debt securities (municipals) 2579.2 2679.6 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 2924.9 102

103 Short term 42.5 34.3 51.2 55.8 63.6 63.0 52.3 56.1 45.3 103

104 Other 2536.7 2645.2 2774.4 2786.9 2891.3 2960.6 2917.6 2908.2 2879.6 104

105 Loans (short term) 10.6 11.2 11.9 12.7 13.5 14.4 15.3 15.7 16.2 105

106 Insurance, pension and standardized guarantee schemes 314.0 186.2 178.9 1254.9 1116.9 1343.4 1648.3 1622.2 1204.1 106

 (Claim of pension funds on sponsor)

107 Other accounts payable (trade payables) 482.0 516.2 553.0 591.6 630.5 669.0 707.4 746.2 785.8 107

108 Net worth 5190.3 6154.7 6838.8 6112.7 6195.7 6268.9 6476.2 6922.9 7710.4 108

Note. The state and local government accounts exclude state and local employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.
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S.9.a Rest of the World 

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Current account

 1 Foreign income from U.S. 2627.5 3004.6 3257.9 3385.0 2613.9 3020.3 3379.5 3470.2 3494.8 1

 2 U.S. imports of goods and services 2030.1 2247.3 2383.2 2565.0 1983.2 2365.0 2686.4 2762.5 2770.4 2

 3 U.S. income payments to rest of world 483.2 656.6 750.1 684.9 497.8 514.1 546.0 566.5 586.1 3

 4 Current taxes and trans. payments to rest of world 114.2 100.7 124.7 135.1 132.9 141.2 147.2 141.3 138.3 4

 5 Less: Foreign outlays to U.S. 1884.7 2200.6 2540.3 2698.9 2236.6 2572.4 2899.0 2988.0 3072.6 5

 6 U.S. exports of goods and services 1308.9 1476.3 1664.6 1841.9 1587.7 1852.3 2106.4 2194.2 2262.2 6

 7 U.S. income receipts from rest of world 575.8 724.2 875.7 856.9 648.9 720.0 792.6 793.8 810.4 7

 8 Equals: Net saving (current external balance) 742.9 804.0 717.6 686.1 377.3 447.9 480.5 482.2 422.2 8

 Capital account

 9 Net saving 742.9 804.0 717.6 686.1 377.3 447.9 480.5 482.2 422.2 9

10 Less: Net capital transfers 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 6.5 -0.8 10

11 Less: Acquisition of nonproduced nonfinancial assets 0.1 -0.1 0.5 -0.0 0.0 -0.0 -0.0 -0.1 0.0 11

12 Net lending (+) or borrowing (-), capital account (lines 9-10-11) 730.0 806.1 717.5 680.7 377.8 448.6 482.1 475.7 423.0 12

 Financial account

13 Net lending (+) or borrowing (-) (line 12) 730.0 806.1 717.5 680.7 377.8 448.6 482.1 475.7 423.0 13

14 Net acquisition of U.S. financial assets 1048.2 1479.7 1470.6 666.8 201.0 1087.5 1049.7 832.9 1170.6 14

15 Monetary gold and SDRs 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 15

16 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 17

18 Currency and deposits 24.8 50.7 -78.3 492.9 -284.3 -27.5 343.1 -29.9 394.6 18

19 Currency 8.4 2.2 -10.7 29.2 12.6 28.3 55.0 57.1 37.7 19

20 Transferable deposits 6.4 9.2 5.2 34.8 -21.8 1.2 26.8 11.0 12.2 20

21 Time deposits 20.6 34.0 36.7 73.4 -73.3 4.9 47.3 37.9 50.1 21

22 Net interbank items due from U.S. banks -10.6 5.3 -109.5 355.4 -201.9 -61.8 213.9 -136.0 294.7 22

23 Debt securities 737.2 968.7 856.6 404.7 160.4 639.4 203.6 495.7 554.6 23

24 Open market paper 20.8 54.9 16.5 -59.0 -48.4 -10.7 0.7 -0.1 -1.4 24

25 Treasury securities 245.1 150.3 165.3 711.6 554.4 740.4 355.3 589.7 431.3 25

26 Agency- and GSE-backed securities (1) 139.8 217.1 239.5 -231.9 -226.0 -66.6 -41.6 -73.6 -84.7 26

27 Municipal securities 3.0 5.4 10.7 5.9 7.7 13.1 0.6 -0.6 4.3 27

28 Corporate bonds 328.5 541.0 424.6 -21.8 -127.3 -36.8 -111.5 -19.7 205.2 28

29 Loans (short term) 72.7 66.0 174.9 -674.3 -98.7 72.2 126.5 -58.8 58.6 29

30 Security repurchases 41.4 59.7 72.6 -629.7 -54.8 92.4 92.6 -6.6 62.1 30

31 Loans to U.S. corporate business 31.3 6.2 102.3 -44.7 -44.0 -20.2 33.9 -52.2 -3.5 31

32 Equity and investment fund shares 201.9 388.6 496.8 436.9 369.7 384.8 359.4 414.3 150.9 32

33 Money market fund shares 0.1 4.1 19.0 23.7 7.2 -7.1 4.6 22.6 16.4 33

34 Corporate equities 83.6 118.7 243.9 130.0 192.7 127.8 44.0 126.8 -74.8 34

35 Mutual fund shares 5.6 22.7 12.7 -26.9 19.4 58.2 74.7 89.7 -27.0 35

36 Foreign direct investment in the United States 112.6 243.2 221.2 310.1 150.4 205.9 236.1 175.2 236.3 36

37 Other accounts receivable 11.6 5.7 20.6 6.7 6.3 18.6 17.1 11.6 11.9 37

38 Net incurrence of liabilities 349.7 949.8 1319.0 -98.4 173.0 819.3 633.0 386.3 819.7 38

39 SDR holdings -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 39

40 Currency and deposits 12.3 177.9 294.5 -326.3 -39.8 73.4 -197.3 -139.6 29.6 40

41 Official foreign currencies 0.6 0.7 1.0 1.3 0.7 0.5 -0.5 0.4 0.3 41

42 Reserve position in IMF (net) -10.2 -3.3 -1.0 3.5 3.4 1.3 18.1 4.0 -3.4 42

43 U.S. private deposits 21.9 180.5 294.5 -331.0 -43.9 71.6 -215.0 -144.0 32.7 43

44 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 44

45 Debt securities 93.4 277.2 234.8 -211.9 236.6 124.7 128.2 152.6 228.4 45

46 Commercial paper 38.6 98.4 -69.3 -71.0 59.4 -2.7 -53.5 27.9 34.0 46

47 Bonds 54.8 178.9 304.1 -140.8 177.2 127.4 181.7 124.7 194.4 47

48 Loans (short term) 3.4 65.4 173.3 160.5 -471.8 222.0 240.7 -14.5 -51.7 48

49 Security repurchases -7.1 55.9 123.2 -382.8 86.0 207.9 96.4 40.4 -83.5 49

50 Other loans and advances -6.8 -7.4 -3.3 -1.5 0.5 0.3 1.4 5.6 1.4 50

51 Depository institution loans n.e.c. 17.3 16.9 29.4 15.1 -14.8 24.0 43.2 30.4 39.1 51

52 Nonoff. foreign currencies (swap lines) 0.0 0.0 24.0 529.7 -543.5 -10.2 99.7 -90.9 -8.6 52
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53 Equity and investment fund shares 243.8 425.6 605.7 282.8 399.3 393.1 459.2 387.1 610.1 53

54 Corporate equities 186.7 137.3 147.8 -38.6 63.7 79.2 7.0 103.3 275.2 54

55 U.S. government equity in IBRD, etc. 1.3 2.0 1.7 1.4 1.7 2.3 2.6 2.4 2.2 55

56 U.S. direct investment abroad 36.2 244.9 414.0 329.1 310.4 301.1 419.1 333.0 349.5 56

57 Investment by holding companies 19.6 41.3 42.2 -9.1 23.5 10.6 30.6 -51.5 -16.9 57

58 Other accounts payable 1.3 3.5 10.7 -3.7 0.5 6.0 4.0 0.7 3.4 58

 Addendum:

59 Net lending (+) or borrowing (-), financial account (lines 14-38) 698.5 529.8 151.5 765.2 28.0 268.2 416.7 446.6 350.8 59

 Other changes in volume account

60 Total other volume changes -34.9 -145.3 -537.5 75.3 -335.3 -181.8 -69.6 -34.8 -66.4 60

61 Other volume changes -3.4 131.0 28.5 -9.2 14.5 -1.5 -4.2 -5.7 5.8 61

62 Less: Statistical discrepancy (lines 12-59) (2) 31.5 276.3 566.0 -84.5 349.8 180.3 65.5 29.1 72.2 62

 Revaluation account

63 Financial assets -65.7 384.4 298.2 -1633.9 480.9 604.3 167.2 605.1 979.8 63

64 SDR allocations -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 0.1 64

65 Currency and deposits -0.3 -0.0 5.1 0.0 0.0 4.2 0.1 -0.2 -0.7 65

66 Debt securities -206.6 36.6 157.6 -148.8 64.0 132.3 293.5 120.4 -327.5 66

67 Open market paper -1.7 1.6 -3.6 -1.8 0.1 -4.3 -0.2 0.2 0.4 67

68 Treasury securities -74.3 -8.5 85.0 164.9 -136.8 47.9 190.3 -22.6 -207.8 68

69 Agency- and GSE-backed securities 4.7 35.0 79.1 57.3 -26.2 12.4 23.9 -3.4 -31.3 69

70 Corporate bonds -135.3 8.5 -2.9 -369.3 226.9 76.3 79.4 146.3 -88.7 70

71 Equity and investment fund shares 142.1 347.3 134.8 -1484.6 416.3 468.7 -126.1 484.8 1307.8 71

72 Corporate equities 82.1 323.1 152.1 -1161.0 540.5 429.8 -56.8 429.1 1285.5 72

73 Mutual fund shares 9.4 19.3 12.1 -65.0 25.5 19.4 -8.3 35.4 76.1 73

74 Foreign direct investment in the United States 50.6 4.9 -29.3 -258.6 -149.6 19.6 -61.0 20.4 -53.7 74

75 Other accounts receivable -0.3 0.2 0.3 -0.3 0.3 0.1 -0.1 0.0 0.0 75

76 Liabilities 642.4 949.7 1059.8 -2788.6 1381.3 797.1 -709.0 893.7 685.2 76

77 SDR holdings -0.9 0.4 0.5 -0.2 0.2 -1.0 -0.1 0.1 0.1 77

78 Currency and deposits -5.3 2.9 -0.4 0.2 -0.0 -25.2 -22.7 -1.8 -3.3 78

79 Official foreign currencies -5.5 2.3 3.8 2.5 0.3 1.1 0.3 -2.3 -2.6 79

80 Reserve position in IMF (net) -1.2 0.3 0.2 -0.0 0.3 -0.2 -0.5 0.0 0.0 80

81 U.S. private deposits 1.4 0.2 -4.4 -2.3 -0.7 -26.1 -22.5 0.4 -0.7 81

82 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 82

83 Debt securities (corporate bonds) -38.6 20.6 97.3 -193.7 179.3 102.5 54.2 148.2 -130.6 83

84 Equity and investment fund shares 687.6 925.5 962.1 -2594.7 1201.6 720.9 -740.4 747.3 819.1 84

85 Corporate equities 570.6 873.9 771.2 -2461.0 1183.2 825.8 -647.3 706.8 857.5 85

86 U.S. direct investment abroad 117.0 51.5 190.9 -133.7 18.5 -104.9 -93.1 40.4 -38.4 86

87 Other accounts payable -0.4 0.3 0.3 -0.3 0.1 -0.0 0.0 -0.1 -0.1 87

88 Changes in net worth due to nominal holding gains/losses -708.1 -565.2 -761.7 1154.7 -900.5 -192.9 876.2 -288.5 294.6 88

 Changes in balance sheet account

89 Change in net worth (lines 12+60+88) -13.0 95.6 -581.7 1910.8 -857.9 73.9 1288.7 152.3 651.2 89

 Financial balance sheet account (end of period) (3)

90 Total financial assets 10678.1 12803.2 14571.9 13699.4 14362.3 16054.1 17513.0 18951.0 21093.4 90

91 SDR allocations 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 54.4 91

92 Currency and deposits 560.1 610.7 537.5 1030.4 746.1 722.8 1066.0 1035.9 1429.8 92

93 Currency 280.4 282.6 272.0 301.1 313.8 342.1 397.1 454.2 491.9 93

94 Transferable deposits 19.7 28.9 34.2 69.0 47.2 48.4 75.2 86.2 98.4 94

95 Time deposits 223.2 257.2 298.9 372.4 299.2 308.2 355.6 393.4 442.8 95

96 Net interbank items due from U.S. banks 36.7 42.0 -67.5 287.9 86.0 24.2 238.1 102.1 396.7 96
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97 Debt securities 4980.2 5985.4 6999.6 7255.5 7479.9 8251.6 8748.7 9364.8 9592.0 97

98 Open market paper 156.8 213.3 226.3 165.5 117.2 102.1 102.7 102.8 101.7 98

99 Treasury securities 1984.4 2126.2 2376.4 3253.0 3670.6 4458.8 5004.4 5571.5 5794.9 99

100 Agency- and GSE-backed securities (1) 1006.1 1258.2 1576.8 1402.2 1150.0 1095.8 1078.2 1001.2 885.3 100

101 Municipal securities 29.0 34.4 45.1 51.0 58.7 71.7 72.4 71.8 76.1 101

102 Corporate bonds 1803.8 2353.3 2775.0 2383.9 2483.5 2523.1 2491.0 2617.6 2734.0 102

103 Loans (short term) 867.6 1194.5 1369.5 789.6 671.9 744.0 874.6 815.8 874.4 103

104 Security repurchases 705.0 1025.8 1098.4 563.2 489.4 581.8 678.5 671.9 734.1 104

105 Loans to U.S. corporate business 162.5 168.8 271.1 226.4 182.5 162.3 196.1 143.9 140.4 105

106 Equity and investment fund shares 4210.0 4946.0 5577.6 4529.8 5315.9 6169.4 6640.6 7539.7 8998.4 106

107 Money market fund shares 23.0 27.0 46.0 69.7 76.9 69.8 74.4 96.9 113.3 107

108 Corporate equities 2118.4 2560.2 2956.2 1925.2 2658.4 3216.0 3397.2 3953.0 5163.7 108

109 Mutual fund shares 162.7 204.7 229.5 137.6 182.4 260.0 370.4 495.4 544.5 109

110 Foreign direct investment in the United States 1906.0 2154.1 2345.9 2397.4 2398.2 2623.6 2798.7 2994.3 3176.9 110

111 Other accounts receivable 53.3 59.2 80.0 86.5 93.1 111.8 128.8 140.5 144.4 111

112 Total liabilities and net worth 10678.1 12803.2 14571.9 13699.4 14362.3 16054.1 17513.0 18951.0 21093.4 112

113 Total liabilities 9027.4 11056.9 13407.3 10624.0 12144.8 13762.7 13932.9 15218.6 16709.8 113

114 SDR holdings 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 55.2 114

115 Currency and deposits 1213.8 1394.5 1688.6 1362.5 1322.7 1370.8 1150.8 1009.3 1035.6 115

116 Official foreign currencies 37.6 40.7 45.5 49.3 50.2 51.8 51.6 49.7 47.4 116

117 Reserve position in IMF (net) 8.0 5.0 4.2 7.7 11.4 12.5 30.1 34.2 30.8 117

118 U.S. private deposits 1165.5 1346.1 1636.2 1302.9 1258.4 1303.9 1066.4 922.8 954.8 118

119 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 119

120 Debt securities 1208.8 1506.6 1838.7 1433.2 1849.1 2076.3 2258.7 2559.5 2657.3 120

121 Commercial paper 384.0 482.3 413.0 342.0 401.3 398.6 345.1 373.0 407.0 121

122 Bonds 824.8 1024.3 1425.7 1091.2 1447.8 1677.6 1913.6 2186.5 2250.4 122

123 Loans (short term) 523.3 718.7 863.5 1127.8 622.5 846.0 1091.3 1082.5 1030.8 123

124 Security repurchases 381.0 566.9 681.1 402.3 454.8 663.7 764.7 805.1 721.6 124

125 Other loans and advances 31.9 24.5 21.2 19.4 19.9 20.2 21.5 30.8 32.2 125

126 Depository institution loans n.e.c. 110.4 127.4 137.3 152.4 137.5 162.0 205.2 237.7 276.7 126

127 Nonoff. foreign currencies (swap lines) 0.0 0.0 24.0 553.7 10.3 0.1 99.8 8.9 0.3 127

128 Equity and investment fund shares 6039.8 7390.8 8958.6 6646.8 8247.7 9361.7 9322.0 10456.4 11885.6 128

129 Corporate equities 3317.7 4329.0 5248.0 2748.4 3995.3 4900.2 4501.4 5311.5 6444.2 129

130 U.S. government equity in IBRD, etc. 43.2 45.3 46.9 48.3 50.0 52.3 54.9 57.3 59.5 130

131 U.S. direct investment abroad 2651.7 2948.2 3553.1 3748.5 4077.4 4273.6 4599.5 4972.9 5284.0 131

132 Investment by holding companies 27.1 68.4 110.6 101.5 125.1 135.6 166.3 114.7 97.8 132

133 Other accounts payable 33.6 37.4 48.4 44.4 45.1 51.1 55.1 55.7 45.3 133

134 Net worth (external account) 1650.7 1746.3 1164.7 3075.4 2217.5 2291.3 3580.1 3732.4 4383.6 134

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes nonfinancial assets, including nonproduced nonfinancial assets.

IBRD International Bank for Reconstruction and Development

IMF International Monetary Fund

SDRs Special Drawing Rights

n.e.c. Not elsewhere classified