Summary

1

Z.1, September 18, 2014 Flow of Funds Matrix for 2013

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic Instrument

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

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

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

 1 Gross saving less net cap. transfers -- 2193.2 -- 2090.6 -- 84.9 -- -443.7 -- 3924.9 -- 281.8 -- 423.0 -- 4629.8 --  2 Capital consumption -- 1411.7 -- 1515.0 -- 238.4 -- 268.0 -- 3433.1 -- 178.8 -- -- -- 3611.9 --  3 Net saving (1 less 2) -- 781.4 -- 575.6 -- -153.5 -- -711.7 -- 491.8 -- 103.1 -- 423.0 -- 1017.9 --  4 Gross investment (5 plus 11) 2488.1 -- 1599.6 -- 64.0 -- -397.2 -- 3754.5 -- 378.4 -- 350.9 -- 4483.7 -- 146.0 5 Capital expenditures 1740.4 -- 1863.7 -- 336.8 -- 266.1 -- 4207.0 -- 216.2 -- 0.0 -- 4423.2 -- 206.5 6 Consumer durables 1178.9 -- -- -- -- -- -- -- 1178.9 -- -- -- -- -- 1178.9 -- --  7 Residential 433.4 -- 71.8 -- 5.1 -- 1.6 -- 511.8 -- 14.7 -- -- -- 526.5 -- --  8 Nonresidential 136.0 -- 1716.5 -- 322.8 -- 266.9 -- 2442.2 -- 201.5 -- -- -- 2643.7 -- --  9 Inventory change -- -- 74.1 -- -- -- -- -- 74.1 -- -- -- -- -- 74.1 -- -- 10 Nonproduced nonfinancial assets -7.9 -- 1.3 -- 9.0 -- -2.4 -- -0.0 -- -- -- 0.0 -- -- -- -- 11 Net lending (+) or net borrowing (-) 747.7 -- -264.1 -- -272.8 -- -663.3 -- -452.5 -- 162.2 -- 350.8 -- 60.5 -- -60.512 Total financial assets 991.2 -- 967.4 -- 18.0 -- 217.4 -- 2194.0 -- 3545.8 -- 1170.6 -- 6910.4 -- -- 13 Total liabilities -- 243.6 -- 1231.5 -- 290.8 -- 880.7 -- 2646.5 -- 3383.6 -- 819.7 -- 6849.9 -- 14 U.S. official reserve assets -- -- -- -- -- -- -3.3 0.0 -3.3 0.0 0.2 -- 0.0 -3.1 -3.1 -3.1 -- 15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- -- -- -0.4 -- -0.4 0.7 -- -- -- 0.7 -0.4 -1.117 Foreign deposits 2.8 -- 51.9 -- -- -- -- -- 54.7 -- -9.6 -- -- 32.7 45.2 32.7 -12.418 Interbank claims -- -- -- -- -- -- -- -- -- -- 760.1 1111.6 294.7 -- 1054.8 1111.6 56.819 Checkable dep. and currency 135.9 -- 74.2 -- 6.7 -- 69.6 -- 286.4 -- -2.9 332.6 49.9 -- 333.4 332.6 -0.720 Time and savings deposits 206.4 -- 58.4 -- 12.4 -- -0.5 -- 276.7 -- 82.3 409.1 50.1 -- 409.1 409.1 -- 21 Money market fund shares 21.3 -- 42.2 -- 4.7 -- -- -- 68.2 -- -56.0 28.7 16.4 -- 28.7 28.7 -- 22 Fed. funds and security RPs -- -- -0.9 -- 4.2 -- -- -- 3.3 -- -375.6 -393.6 62.1 -83.5 -310.2 -477.1 -167.023 Credit market instruments -536.4 204.1 -41.2 546.6 -29.6 -38.9 124.2 759.1 -483.1 1470.9 1885.5 213.7 551.1 268.8 1953.5 1953.5 -- 24 Open market paper -3.8 -- -21.8 14.2 -8.1 -- -- -- -33.7 14.2 34.3 -48.9 -1.4 34.0 -0.8 -0.8 -- 25 Treasury securities -188.1 -- 1.7 -- -14.5 -- -- 759.5 -200.9 759.5 529.1 -- 431.3 -- 759.5 759.5 -- 26 Agency- and GSE-backed sec. -94.7 -- -3.8 -- -13.8 -- 0.0 -0.4 -112.2 -0.4 436.5 239.9 -84.7 -- 239.5 239.5 -- 27 Municipal securities -43.3 -13.1 -11.8 9.3 0.2 -39.4 -- -- -55.0 -43.2 7.4 -- 4.3 -- -43.2 -43.2 -- 28 Corporate and fgn. bonds -197.8 -- -- 280.6 2.5 -- -0.1 -- -195.4 280.6 381.0 -84.3 205.2 194.4 390.8 390.8 -- 29 Depository inst. loans n.e.c. -- 30.0 -- 96.1 -- -- -- -- -- 126.1 186.1 20.9 -- 39.1 186.1 186.1 -- 30 Other loans and advances 5.0 2.0 -- 59.8 -- 0.5 7.2 -- 12.2 62.4 133.4 78.3 -3.5 1.4 142.1 142.1 -- 31 Mortgages -7.2 10.9 0.1 86.6 4.2 -- 4.0 0.0 1.0 97.5 104.2 7.8 -- -- 105.2 105.2 -- 32 Consumer credit -6.5 174.3 -5.6 -- -- -- 113.1 -- 100.9 174.3 73.4 -- -- -- 174.3 174.3 -- 33 Corporate equities -59.3 -- -- -373.3 1.3 -- -4.8 -- -62.8 -373.3 203.0 163.5 -74.8 275.2 65.4 65.4 -- 34 Mutual fund shares 642.5 -- 0.9 -- 0.7 -- -- -- 644.0 -- 21.7 638.8 -27.0 -- 638.8 638.8 -- 35 Trade credit -- 1.0 156.8 120.3 8.4 39.6 -1.5 16.8 163.7 177.8 -2.2 0.3 11.9 3.4 173.4 181.4 8.136 Security credit 58.5 35.4 -- -- -- -- -- -- 58.5 35.4 45.9 68.9 -- -- 104.3 104.3 -- 37 Life insurance reserves 19.2 -- -- -- -- -- -- 0.3 19.2 0.3 10.8 29.8 -- -- 30.0 30.0 -- 38 Pension entitlements 494.9 -- -- -- -- -- -- -- 494.9 -- -- 494.9 -- -- 494.9 494.9 -- 39 Taxes payable -- -- -- -6.3 3.1 -- 27.8 -- 30.9 -6.3 -- 17.7 -- -- 30.9 11.4 -19.540 Equity in noncorp. business -46.8 -- -- -43.0 -- -- -- -- -46.8 -43.0 -- -3.9 -- -- -46.8 -46.8 -- 41 U.S. direct investment abroad -- -- 317.4 -- -- -- -- -- 317.4 -- 32.1 -- -- 349.5 349.5 349.5 -- 42 Foreign direct investment in U.S. -- -- -- 207.6 -- -- -- -- -- 207.6 -- 28.7 236.3 -- 236.3 236.3 -- 43 Miscellaneous 52.2 3.0 307.7 779.6 6.2 290.0 5.9 104.8 372.0 1177.5 949.7 242.9 -- -23.3 1321.7 1397.0 75.344 Sector discrepancies (1 less 4) -294.9 -- 491.0 -- 20.9 -- -46.4 -- 170.4 -- -96.6 -- 72.2 -- 146.0 -- 146.0General notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

2

Z.1, September 18, 2014 Flow of Funds Matrix for 2013

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

Households State Domestic Domestic Instrument

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

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

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

 1 Total financial assets 65000.1 -- 20235.0 -- 2938.2 -- 1713.7 -- 89887.0 -- 81073.2 -- 21093.4 -- 192053.6 -- -5692.4 2 Total liabilities and equity -- 13801.2 -- 51612.7 -- 4931.0 -- 16132.6 -- 86477.5 -- 83173.9 -- 16709.8 -- 186361.2 --  3 Total liabilities -- 13801.2 -- 21810.9 -- 4931.0 -- 16132.6 -- 56675.7 -- 76690.6 -- 10265.5 -- 143631.9 --  4 U.S. official reserve assets -- -- -- -- -- -- 109.8 54.4 109.8 54.4 34.6 -- 54.4 133.4 198.8 187.7 -11.0 5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- -- -- 5.2 5.2 --  6 Treasury currency -- -- -- -- -- -- -- 25.6 -- 25.6 45.5 -- -- -- 45.5 25.6 -19.9 7 Foreign deposits 52.5 -- 87.8 -- -- -- -- -- 140.3 -- 33.7 -- -- 954.8 174.0 954.8 780.8 8 Interbank claims -- -- -- -- -- -- -- -- -- -- 2321.8 2795.4 396.7 -- 2718.5 2795.4 76.9 9 Checkable dep. and currency 1035.0 -- 897.8 -- 123.9 -- 163.0 -- 2219.7 -- 371.5 3186.5 590.3 -- 3181.5 3186.5 4.910 Time and savings deposits 7397.8 -- 1022.3 -- 301.9 -- 1.5 -- 8723.6 -- 706.5 9872.9 442.8 -- 9872.9 9872.9 -- 11 Money market fund shares 1145.2 -- 601.5 -- 166.6 -- -- -- 1913.3 -- 651.7 2678.3 113.3 -- 2678.3 2678.3 -- 12 Fed. funds and security RPs -- -- 8.8 -- 132.5 -- -- -- 141.3 -- 2739.0 2931.3 734.1 721.6 3614.3 3652.9 38.613 Credit market instruments 3848.8 13179.2 269.2 11298.0 1561.5 2941.1 1039.8 12352.8 6719.3 39771.1 40234.2 13948.4 9732.3 2966.2 56685.7 56685.7 -- 14 Open market paper 15.0 -- 38.0 144.5 76.9 -- -- -- 130.0 144.5 720.0 400.2 101.7 407.0 951.6 951.6 -- 15 Treasury securities 949.0 -- 90.5 -- 593.4 -- -- 12328.3 1632.9 12328.3 4900.5 -- 5794.9 -- 12328.3 12328.3 -- 16 Agency- and GSE-backed sec. 97.7 -- 9.4 -- 490.9 -- 0.0 24.5 598.0 24.5 6310.9 7769.7 885.3 -- 7794.1 7794.1 -- 17 Municipal securities 1617.7 227.8 18.0 518.5 13.9 2924.9 -- -- 1649.6 3671.2 1945.6 -- 76.1 -- 3671.2 3671.2 -- 18 Corporate and fgn. bonds 1004.6 -- -- 4134.5 172.5 -- 0.6 -- 1177.7 4134.5 7191.6 4718.3 2734.0 2250.4 11103.2 11103.2 -- 19 Depository inst. loans n.e.c. -- 92.7 -- 1776.1 -- -- -- -- -- 1868.8 2508.8 363.2 -- 276.7 2508.8 2508.8 -- 20 Other loans and advances 25.9 141.3 -- 1250.4 -- 16.2 193.9 -- 219.8 1407.9 1574.8 494.9 140.4 32.2 1935.0 1935.0 -- 21 Mortgages 79.8 9619.4 69.8 3474.0 213.9 -- 115.5 0.0 478.9 13093.4 12816.7 202.2 -- -- 13295.5 13295.5 -- 22 Consumer credit 59.1 3097.9 43.5 -- -- -- 729.8 -- 832.5 3097.9 2265.4 -- -- -- 3097.9 3097.9 -- 23 Corporate equities 12451.3 -- -- 20761.7 167.6 -- 35.1 -- 12654.0 20761.7 15853.9 6465.6 5163.7 6444.2 33671.6 33671.6 -- 24 Mutual fund shares 7152.4 -- 211.4 -- 81.2 -- -- -- 7445.1 -- 3555.2 11544.8 544.5 -- 11544.8 11544.8 -- 25 Trade credit -- 255.0 3027.4 2409.6 168.7 785.8 48.8 250.7 3244.9 3701.1 131.0 14.5 144.4 45.3 3520.3 3760.9 240.626 Security credit 815.5 339.2 -- -- -- -- -- -- 815.5 339.2 420.8 897.1 -- -- 1236.2 1236.2 -- 27 Life insurance reserves 1232.8 -- -- -- -- -- -- 50.3 1232.8 50.3 183.7 1366.3 -- -- 1416.5 1416.5 -- 28 Pension entitlements 19886.1 -- -- -- -- -- -- -- 19886.1 -- -- 19886.1 -- -- 19886.1 19886.1 -- 29 Taxes payable -- -- -- 150.1 123.8 -- 165.8 -- 289.6 150.1 -- -59.1 -- -- 289.6 90.9 -198.730 Equity in noncorp. business 9057.7 -- -- 9040.1 -- -- -- -- 9057.7 9040.1 -- 17.6 -- -- 9057.7 9057.7 -- 31 U.S. direct investment abroad -- -- 4370.0 -- -- -- -- -- 4370.0 -- 914.0 -- -- 5284.0 5284.0 5284.0 -- 32 Foreign direct investment in U.S. -- -- -- 2617.5 -- -- -- -- -- 2617.5 -- 559.3 3176.9 -- 3176.9 3176.9 -- 33 Miscellaneous 924.9 27.9 9738.7 5335.7 110.5 1204.1 149.9 3393.7 10924.0 9961.3 12871.0 7068.9 -- 160.2 23795.0 17190.4 -6604.6General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 23) and equity in noncorporate business (line 30). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
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Z.1, September 18, 2014 3

D.1 Credit Market Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1980 9.4 8.2 10.9 1.0 10.1 8.5 6.9 11.8 14.9 13.6

1981 10.3 7.3 7.2 5.5 12.9 13.6 8.0 11.6 18.4 11.6

1982 10.4 5.6 4.8 5.0 9.9 10.3 11.2 19.7 13.6 7.0

1983 12.0 11.0 10.2 12.1 9.2 8.4 11.4 18.9 13.3 7.7

1984 14.9 13.0 11.4 18.4 16.1 16.6 11.4 16.9 17.5 3.7

1985 15.6 16.1 14.6 15.9 11.0 12.6 31.8 16.5 19.3 0.5

1986 11.9 11.4 13.7 9.1 11.5 13.9 10.9 13.6 26.2 3.0

1987 9.1 10.4 13.4 4.8 7.8 8.9 12.0 8.0 18.3 3.3

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

1989 7.2 9.1 10.9 6.3 6.3 7.3 5.3 7.0 10.5 -2.0

1990 6.5 7.1 8.8 1.9 3.6 5.3 5.0 11.0 8.6 2.8

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

1992 4.6 5.4 6.5 1.1 -0.3 0.6 1.5 10.9 8.5 4.0

1993 5.6 6.1 5.5 7.4 3.1 5.3 5.3 8.3 9.7 15.8

1994 5.1 7.7 5.6 15.2 5.4 7.1 -3.9 4.7 14.0 -4.5

1995 4.8 7.1 4.9 14.4 5.7 6.4 -5.5 4.1 11.4 15.3

1996 4.9 6.7 6.2 9.0 5.5 5.2 -2.0 4.0 12.4 14.1

1997 5.3 5.9 6.1 5.5 8.5 8.6 4.9 0.6 12.0 10.8

1998 6.5 7.5 8.0 7.2 11.5 10.8 6.2 -1.4 19.4 4.5

1999 6.2 8.0 9.4 7.8 10.5 9.6 3.3 -1.9 16.6 1.8

2000 4.9 9.0 8.7 11.4 9.1 8.3 1.4 -8.0 10.7 7.5

2001 6.1 9.6 10.6 8.6 5.2 3.8 8.8 -0.2 10.6 -2.4

2002 7.1 10.7 13.3 5.6 2.2 0.1 11.1 7.6 9.6 6.3

2003 7.8 11.9 14.5 5.3 1.1 0.1 8.3 10.9 10.7 1.8

2004 9.0 11.1 13.5 5.6 5.6 3.0 11.4 9.0 8.6 8.6

2005 9.0 11.2 13.4 4.5 8.1 5.3 5.8 7.0 9.4 8.1

2006 8.4 10.2 11.2 5.2 9.8 7.4 3.9 3.9 10.3 21.2

2007 8.2 7.0 7.4 6.1 12.4 11.5 5.5 4.9 12.9 15.7

2008 6.2 1.1 0.9 1.3 5.8 4.1 0.6 24.2 6.0 -9.9

2009 3.3 0.0 0.6 -3.9 -4.3 -5.4 4.0 22.7 -9.7 13.8

2010 4.1 -1.1 -1.7 -1.0 -0.9 -1.2 2.3 20.2 -5.7 7.4

2011 3.6 -0.2 -0.7 4.1 3.0 4.3 -1.7 11.4 -2.4 7.7

2012 5.0 1.6 -0.6 6.2 4.8 6.5 -0.2 10.9 -3.0 7.6

2013 3.8 1.6 0.1 6.0 5.1 6.4 -1.3 6.5 1.5 9.5

2008 -- Q1 6.4 4.3 3.5 6.2 8.7 8.3 2.0 10.4 6.4 -3.1

 Q2 3.8 0.8 1.1 2.5 7.4 6.4 0.8 5.9 6.8 -0.9

 Q3 8.0 0.3 -0.1 -0.7 5.8 4.7 0.7 36.5 7.1 -25.5

 Q4 6.3 -1.1 -0.9 -2.8 1.0 -3.1 -1.0 37.2 3.3 -12.7

2009 -- Q1 4.2 0.1 1.3 -2.8 -2.7 -3.7 2.6 25.4 -9.9 4.7

 Q2 4.8 0.3 0.7 -5.8 -3.7 -4.2 4.8 27.1 -12.6 12.6

 Q3 2.5 -0.2 -0.0 -3.1 -5.7 -7.5 3.8 18.9 -9.8 10.8

 Q4 1.5 -0.2 0.5 -4.1 -5.3 -6.8 4.3 12.7 -7.4 22.1

2010 -- Q1 3.8 -2.4 -3.9 -2.9 -1.5 -1.9 3.2 21.4 -6.1 7.9

 Q2 4.1 -0.4 -0.7 -2.5 -3.5 -5.4 0.1 22.3 -7.1 -3.0

 Q3 4.3 -1.2 -1.7 0.1 1.8 3.0 1.8 16.7 -5.0 5.7

 Q4 3.9 -0.6 -0.6 1.3 -0.4 -0.4 4.2 15.1 -5.8 17.5

2011 -- Q1 2.4 -0.1 -0.8 4.3 1.7 2.7 -2.7 8.3 -0.8 15.1

 Q2 2.4 -1.4 -0.7 3.4 3.3 4.9 -3.3 8.5 -4.3 15.8

 Q3 5.1 -0.2 -0.7 3.9 3.4 4.9 -0.4 15.6 -2.5 -3.3

 Q4 4.5 1.0 -0.6 4.6 3.7 4.6 -0.6 11.3 -1.9 2.5

2012 -- Q1 5.1 1.1 -0.9 5.5 4.0 5.8 0.0 12.6 -3.9 -1.5

 Q2 5.5 2.7 -0.5 7.2 3.7 5.0 2.1 11.6 -5.0 3.2

 Q3 3.8 0.6 -0.4 5.2 4.2 5.5 -0.2 8.4 -1.9 13.4

 Q4 5.2 1.9 -0.6 6.1 7.0 8.9 -2.6 9.3 -1.2 13.6

2013 -- Q1 4.1 0.8 -0.7 6.1 3.5 5.8 1.9 9.1 -0.6 13.4

 Q2 3.0 1.6 0.2 5.5 4.9 5.6 -0.2 3.5 0.2 5.2

 Q3 3.5 3.1 1.2 6.3 7.0 9.1 -3.7 2.6 0.6 7.1

 Q4 4.4 0.7 -0.4 5.4 4.5 4.7 -3.3 10.5 5.9 11.9

2014 -- Q1 4.3 2.2 -0.6 6.5 6.2 8.2 -1.3 6.0 -2.1 5.6

 Q2 3.8 3.6 0.4 8.1 6.3 6.1 1.2 2.5 2.5 14.0

1. Data shown are on an end-of-period basis.
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4 Z.1, September 18, 2014

D.2 Credit Market Borrowing by Sector

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1980 339.1 104.2 90.2 3.4 135.3 72.1 22.2 77.4 75.8 24.2

1981 405.0 101.8 67.0 19.8 190.0 125.3 27.6 85.5 107.8 23.5

1982 451.6 84.1 47.4 18.8 164.4 106.6 41.7 161.3 93.6 16.0

1983 570.6 172.4 105.2 48.2 165.7 94.4 47.3 185.2 104.3 17.3

1984 794.4 223.9 127.6 81.7 320.8 207.1 52.5 197.2 156.2 8.4

1985 955.4 311.4 181.7 84.0 254.7 184.3 163.6 225.7 203.2 1.2

1986 844.7 259.5 199.3 55.8 295.0 227.8 74.2 216.0 330.1 10.2

1987 721.6 263.6 221.6 32.3 223.7 165.6 90.4 143.9 291.8 11.4

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

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

1990 658.8 233.5 200.0 15.1 131.3 131.0 47.1 246.9 207.8 11.1

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

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

1993 667.3 239.6 156.3 61.4 113.7 134.3 57.9 256.1 292.9 67.5

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

1995 633.4 319.5 153.6 147.0 230.2 184.9 -60.8 144.4 433.6 76.4

1996 681.5 324.8 205.1 105.7 232.3 161.9 -20.5 144.9 523.2 89.0

1997 761.9 306.9 215.9 70.3 381.2 279.3 50.8 23.1 570.3 77.7

1998 984.5 412.2 301.5 97.1 558.1 379.1 66.8 -52.6 1026.5 36.0

1999 1007.2 473.8 379.2 112.4 567.3 373.5 37.3 -71.2 1052.6 15.4

2000 846.2 574.4 383.5 176.5 550.8 358.4 16.9 -295.9 790.8 60.5

2001 1106.6 666.1 508.2 150.6 340.6 177.1 105.5 -5.6 862.3 -21.1

2002 1369.1 812.2 706.1 105.2 154.8 3.0 144.6 257.6 881.6 53.6

2003 1597.8 1004.5 872.0 105.9 76.7 2.8 120.5 396.0 1071.5 17.2

2004 1990.8 1051.8 934.7 117.2 398.3 143.5 178.8 361.9 938.8 99.1

2005 2234.3 1177.0 1053.3 100.4 608.7 266.9 141.7 306.9 1113.7 103.9

2006 2289.0 1201.1 997.4 120.5 803.6 388.2 100.9 183.4 1336.3 286.7

2007 2410.4 911.9 732.2 151.3 1114.7 651.5 146.7 237.1 1833.0 260.9

2008 1990.7 145.9 93.9 34.9 587.7 262.2 17.9 1239.2 978.4 -198.2

2009 1102.4 1.2 66.2 -103.6 -455.7 -358.6 113.0 1443.9 -1663.3 222.2

2010 1406.7 -152.8 -180.8 -25.3 -90.3 -70.9 69.5 1580.2 -899.8 149.0

2011 1292.0 -26.4 -67.8 108.5 303.2 260.4 -52.7 1067.9 -339.8 172.8

2012 1833.8 206.0 -58.9 169.7 492.9 405.0 -5.3 1140.2 -417.6 188.6

2013 1470.9 204.1 6.5 174.3 546.6 431.6 -38.9 759.1 213.7 268.8

2008 -- Q1 2056.5 587.8 373.6 163.4 880.0 527.0 55.7 533.0 1038.3 -62.5

 Q2 1214.7 118.6 117.1 67.6 763.7 414.5 22.7 309.7 1115.0 -18.7

 Q3 2608.7 36.7 -14.8 -17.7 604.6 309.8 20.6 1946.8 1193.5 -494.6

 Q4 2083.0 -159.6 -100.4 -73.7 102.6 -202.5 -27.3 2167.3 566.7 -217.1

2009 -- Q1 1418.0 14.4 142.8 -74.1 -284.5 -243.9 73.9 1614.2 -1687.6 76.0

 Q2 1630.3 45.7 70.0 -153.1 -388.3 -274.4 139.2 1833.6 -2153.5 203.3

 Q3 857.0 -23.2 -4.8 -81.3 -598.7 -482.7 111.3 1367.6 -1616.9 189.6

 Q4 504.3 -32.2 57.0 -106.0 -551.2 -433.4 127.6 960.1 -1195.2 419.8

2010 -- Q1 1293.2 -320.4 -407.9 -73.3 -153.7 -116.2 95.2 1672.1 -954.4 158.7

 Q2 1430.6 -52.8 -74.8 -64.7 -350.1 -329.9 2.0 1831.5 -1064.9 -62.4

 Q3 1523.3 -163.9 -175.4 3.6 180.4 184.3 54.2 1452.6 -735.5 116.4

 Q4 1379.8 -74.0 -65.2 33.0 -37.9 -21.9 126.9 1364.7 -844.4 383.2

2011 -- Q1 848.9 -18.3 -78.6 112.8 166.7 162.6 -83.2 783.7 -110.4 341.1

 Q2 862.3 -180.1 -69.6 90.1 325.6 294.7 -99.2 816.1 -619.3 371.3

 Q3 1828.9 -31.6 -66.8 106.3 347.4 299.9 -11.0 1524.1 -356.5 -81.6

 Q4 1628.0 124.5 -56.2 124.8 373.0 284.4 -17.4 1147.8 -273.0 60.4

2012 -- Q1 1874.5 147.7 -85.9 152.4 409.7 363.6 1.1 1315.9 -542.8 -38.3

 Q2 2057.3 358.0 -52.0 201.7 385.5 317.5 61.2 1252.6 -691.2 79.9

 Q3 1441.0 72.4 -42.7 148.9 438.7 353.0 -4.9 934.8 -266.4 344.1

 Q4 1962.5 246.0 -55.2 175.7 737.7 585.8 -78.5 1057.3 -169.8 368.6

2013 -- Q1 1591.4 102.7 -68.0 179.0 375.3 386.4 57.3 1056.0 -81.4 378.6

 Q2 1157.1 212.6 15.9 162.9 535.9 380.4 -4.9 413.6 32.9 151.0

 Q3 1383.5 410.7 111.8 190.6 774.3 627.4 -109.4 307.9 88.6 201.7

 Q4 1751.7 90.6 -33.6 164.8 500.8 332.0 -98.5 1258.8 814.9 344.0

2014 -- Q1 1692.4 295.3 -57.9 200.7 694.9 586.1 -38.8 741.0 -295.2 167.4

 Q2 1542.3 470.6 35.1 254.3 721.6 443.9 35.7 314.4 352.9 426.0
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D.3 Credit Market Debt Outstanding by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1980 3943.2 1389.1 926.5 358.0 1474.7 919.6 344.4 735.0 584.7 202.1

1981 4349.2 1498.2 998.3 377.9 1658.5 1038.7 372.1 820.5 689.2 229.5

1982 4770.6 1567.5 1031.2 396.7 1807.6 1129.9 413.8 981.8 785.5 223.8

1983 5344.2 1719.8 1116.4 444.9 1996.2 1247.2 461.1 1167.0 890.1 228.7

1984 6138.2 1939.8 1243.3 526.6 2320.6 1458.0 513.6 1364.2 1054.9 228.9

1985 7111.8 2272.0 1450.2 610.6 2572.0 1638.9 677.9 1589.9 1259.0 335.5

1986 7953.5 2529.5 1649.0 666.4 2866.0 1865.8 752.1 1805.9 1596.6 346.6

1987 8656.8 2747.1 1828.6 698.6 3117.4 2059.2 842.6 1949.8 1899.7 357.7

1988 9439.6 3036.3 2054.8 745.2 3405.5 2263.5 893.0 2104.9 2149.5 393.7

1989 10141.0 3305.1 2260.1 809.3 3644.3 2454.1 940.4 2251.2 2402.8 389.7

1990 10827.2 3567.8 2489.3 824.4 3773.8 2583.3 987.4 2498.1 2613.8 396.7

1991 11296.4 3755.0 2667.4 815.6 3686.4 2524.4 1078.6 2776.4 2766.8 406.7

1992 11813.9 3959.4 2840.4 824.8 3679.1 2543.6 1095.1 3080.3 3018.9 426.4

1993 12496.1 4201.3 2999.0 886.2 3805.2 2690.4 1153.0 3336.5 3317.2 521.1

1994 13141.4 4525.0 3165.5 1021.2 4016.5 2887.2 1107.5 3492.3 3789.7 501.0

1995 13790.6 4844.5 3319.2 1168.2 4262.6 3087.9 1046.7 3636.7 4226.3 631.3

1996 14472.1 5182.3 3537.3 1273.9 4481.9 3236.8 1026.2 3781.7 4749.5 721.4

1997 15232.0 5489.2 3753.2 1344.2 4861.0 3514.0 1076.9 3804.8 5299.7 802.2

1998 16216.4 5901.4 4054.7 1441.3 5419.0 3893.0 1143.8 3752.2 6326.2 842.9

1999 17258.0 6375.3 4431.6 1553.6 6020.7 4300.9 1181.0 3681.0 7376.5 804.4

2000 18114.1 6959.5 4813.9 1741.3 6571.6 4659.3 1197.9 3385.1 8168.4 868.2

2001 19203.7 7625.7 5322.0 1891.8 6895.2 4819.4 1303.4 3379.5 9156.8 849.9

2002 20572.8 8437.9 6028.2 1997.0 7050.0 4822.4 1447.9 3637.0 10038.4 956.3

2003 22214.8 9472.5 6909.9 2102.9 7140.8 4839.3 1568.4 4033.1 10945.2 1157.1

2004 24937.5 10544.3 7859.4 2220.1 7550.0 4993.8 2448.2 4395.0 11898.8 1285.7

2005 27171.8 11721.3 8912.7 2320.6 8158.8 5260.7 2589.8 4701.9 12958.0 1351.1

2006 29505.6 12946.5 9910.1 2461.9 8983.1 5669.6 2690.8 4885.3 14261.3 1658.4

2007 31892.9 13830.4 10611.7 2615.7 10102.8 6327.6 2837.5 5122.3 16205.1 1997.2

2008 33745.8 13850.0 10579.4 2650.6 10678.9 6584.9 2855.4 6361.5 17103.4 1605.0

2009 34460.2 13558.9 10418.1 2552.8 10127.5 6142.1 2968.4 7805.4 15714.5 2006.5

2010 35608.6 13229.8 9914.2 2647.4 9955.2 6004.4 3038.0 9385.6 14455.3 2258.5

2011 36750.6 13060.9 9698.5 2755.9 10250.9 6264.8 2985.3 10453.6 14036.1 2485.5

2012 38420.1 13063.5 9497.9 2923.6 10782.8 6713.3 2980.0 11593.7 13802.5 2828.0

2013 39771.1 13179.2 9415.9 3097.9 11298.0 7118.0 2941.1 12352.8 13948.4 2966.2

2008 -- Q1 32386.2 13957.5 10685.2 2656.6 10321.8 6459.4 2851.4 5255.6 16454.2 2016.9

 Q2 32657.2 13956.0 10683.4 2673.5 10511.1 6563.0 2857.1 5333.0 16715.4 1941.7

 Q3 33270.2 13932.9 10647.4 2669.1 10655.4 6635.5 2862.2 5819.7 16989.7 1705.5

 Q4 33745.8 13850.0 10579.4 2650.6 10678.9 6584.9 2855.4 6361.5 17103.4 1605.0

2009 -- Q1 33991.3 13737.3 10569.3 2632.1 10615.0 6533.5 2873.9 6765.1 17105.3 1610.4

 Q2 34345.0 13697.8 10530.1 2599.6 10515.1 6464.9 2908.7 7223.5 16533.3 1751.5

 Q3 34493.1 13629.0 10466.0 2579.3 10362.2 6344.2 2936.5 7565.4 16096.9 1901.2

 Q4 34460.2 13558.9 10418.1 2552.8 10127.5 6142.1 2968.4 7805.4 15714.5 2006.5

2010 -- Q1 34793.4 13472.6 10267.7 2538.1 10105.1 6130.4 2992.2 8223.4 14940.9 2067.7

 Q2 35100.8 13411.6 10201.2 2521.9 10015.2 6047.9 2992.7 8681.3 14651.4 2056.6

 Q3 35437.5 13328.8 10115.5 2522.8 10058.0 6093.9 3006.2 9044.5 14446.6 2195.7

 Q4 35608.6 13229.8 9914.2 2647.4 9955.2 6004.4 3038.0 9385.6 14455.3 2258.5

2011 -- Q1 35779.5 13185.9 9855.3 2675.6 9994.9 6045.0 3017.2 9581.6 14408.5 2347.2

 Q2 35959.6 13107.4 9799.0 2698.2 10074.3 6118.6 2992.3 9785.6 14229.5 2479.0

 Q3 36380.0 13064.4 9747.2 2724.7 10159.4 6193.6 2989.6 10166.6 14121.6 2458.1

 Q4 36750.6 13060.9 9698.5 2755.9 10250.9 6264.8 2985.3 10453.6 14036.1 2485.5

2012 -- Q1 37178.2 13065.3 9642.2 2794.0 10344.7 6346.3 2985.5 10782.6 13945.8 2522.7

 Q2 37648.3 13112.4 9588.8 2842.5 10439.3 6425.7 3000.8 11095.7 13752.6 2558.7

 Q3 37962.7 13034.5 9541.9 2879.7 10599.1 6565.9 2999.6 11329.4 13853.3 2718.8

 Q4 38420.1 13063.5 9497.9 2923.6 10782.8 6713.3 2980.0 11593.7 13802.5 2828.0

2013 -- Q1 38790.0 13062.6 9454.3 2968.4 10875.3 6809.8 2994.3 11857.7 13766.3 2882.8

 Q2 39053.2 13091.0 9433.5 3009.1 11008.0 6904.9 2993.1 11961.1 13759.3 2829.7

 Q3 39365.5 13172.5 9440.3 3056.7 11189.1 7050.3 2965.7 12038.1 13765.5 2885.0

 Q4 39771.1 13179.2 9415.9 3097.9 11298.0 7118.0 2941.1 12352.8 13948.4 2966.2

2014 -- Q1 40179.7 13239.2 9387.7 3148.1 11470.9 7264.3 2931.4 12538.1 13866.3 3032.2

 Q2 40549.2 13341.6 9381.2 3211.7 11650.5 7375.3 2940.4 12616.7 13947.4 3137.9

1. Data shown are on an end-of-period basis.
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F.1 Total Credit Market Borrowing and Lending (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Credit market borrowing -338.7 655.9 1125.0 1604.8 1953.5 1888.5 1341.1 1673.8 2910.6 1564.6 2321.2 1

 2 Domestic nonfinancial sectors 1102.4 1406.7 1292.0 1833.8 1470.9 1591.4 1157.1 1383.5 1751.7 1692.4 1542.3 2

 3 Household sector 1.2 -152.8 -26.4 206.0 204.1 102.7 212.6 410.7 90.6 295.3 470.6 3

 4 Nonfinancial corporate business -358.6 -70.9 260.4 405.0 431.6 386.4 380.4 627.4 332.0 586.1 443.9 4

 5 Nonfinancial noncorporate business -97.1 -19.4 42.7 87.9 115.0 -11.1 155.6 146.9 168.8 108.8 277.7 5

 6 State and local governments 113.0 69.5 -52.7 -5.3 -38.9 57.3 -4.9 -109.4 -98.5 -38.8 35.7 6

 7 Federal government 1443.9 1580.2 1067.9 1140.2 759.1 1056.0 413.6 307.9 1258.8 741.0 314.4 7

 8 Rest of the world 222.2 149.0 172.8 188.6 268.8 378.6 151.0 201.7 344.0 167.4 426.0 8

 9 Financial sectors -1663.3 -899.8 -339.8 -417.6 213.7 -81.4 32.9 88.6 814.9 -295.2 352.9 9

 10 U.S.-chartered depository institutions -292.2 -217.6 -50.5 -110.8 -33.5 -113.6 -30.3 -53.5 63.6 -25.8 106.3 10

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

 12 Credit unions -14.1 -0.4 -2.0 0.9 1.9 -11.4 4.9 12.5 1.7 1.7 10.2 12

 13 Life insurance companies -6.6 -3.2 1.8 4.8 7.8 5.2 6.5 -2.9 22.5 7.7 8.0 13

 14 Government-sponsored enterprises -518.4 -233.8 -187.2 -154.6 107.5 43.1 136.7 40.2 210.1 -355.5 156.9 14

 15 Agency- and GSE-backed mortgage pools 458.3 186.9 165.3 132.2 132.4 120.9 110.1 154.4 144.1 77.4 27.8 15

 16 ABS issuers -614.0 -411.9 -172.6 -143.4 -234.8 -143.2 -663.8 -68.8 -63.4 -153.5 -52.7 16

 17 Finance companies -156.2 -174.9 -13.5 -56.7 4.2 -28.5 4.2 41.3 -0.2 -31.5 3.0 17

 18 REITs -27.6 0.1 25.6 35.5 178.4 8.0 550.3 38.5 116.8 140.1 49.4 18

 19 Brokers and dealers -49.7 36.9 -37.9 -1.7 22.2 -4.2 55.8 -27.8 65.1 38.5 -34.5 19

 20 Holding companies -8.0 -16.5 -16.5 -99.9 0.5 -24.5 -149.7 -27.5 203.8 12.9 3.9 20

 21 Funding corporations -434.8 -65.3 -52.4 -23.9 27.0 66.9 8.1 -17.8 50.8 -7.2 74.6 21

 22 Credit market lending -338.7 655.9 1125.0 1604.8 1953.5 1888.5 1341.1 1673.8 2910.6 1564.6 2321.2 22

 23 Domestic nonfinancial sectors 352.4 72.2 -260.6 -111.8 -483.1 -783.7 -573.3 -438.0 -137.3 -835.9 -38.1 23

 24 Household sector 72.2 -88.9 -225.2 -261.9 -536.4 -922.0 -678.8 -381.8 -162.8 -998.4 -270.2 24

 25 Nonfinancial corporate business 10.1 2.6 -7.1 -10.0 -43.3 -96.2 4.3 -32.5 -48.8 8.7 2.6 25

 26 Nonfinancial noncorporate business -6.7 6.6 1.0 1.3 2.0 0.6 2.5 2.4 2.7 2.0 4.4 26

 27 State and local governments -32.4 67.4 -47.6 53.8 -29.6 84.8 -16.2 -144.6 -42.6 26.5 122.7 27

 28 Federal government 309.2 84.5 18.3 104.9 124.2 149.0 114.8 118.5 114.2 125.3 102.4 28

 29 Rest of the world 116.5 619.2 237.4 443.5 551.1 602.4 180.4 454.0 967.5 503.8 437.9 29

 30 Financial sectors -807.6 -35.5 1148.2 1273.2 1885.5 2069.8 1734.0 1657.9 2080.4 1896.7 1921.4 30

 31 Monetary authority 1001.6 271.5 376.5 34.5 1086.1 1134.2 1083.8 1023.6 1102.9 911.1 538.5 31

 32 U.S.-chartered depository institutions -280.4 -120.7 173.7 424.0 253.5 242.9 203.6 53.6 513.8 667.0 731.5 32

 33 Foreign banking offices in U.S. -287.5 -24.4 42.5 5.8 -7.2 -77.2 -41.3 68.1 21.5 67.0 53.8 33

 34 Banks in U.S.-affiliated areas -2.8 -19.3 -4.9 -0.1 0.3 -1.1 -0.1 -3.2 5.6 -0.3 -9.8 34

 35 Credit unions 34.1 24.9 38.6 47.0 50.2 53.3 60.6 56.3 30.6 48.5 75.8 35

 36 Property-casualty insurance companies 33.3 3.9 36.2 1.0 25.3 22.6 13.0 27.2 38.3 -10.3 14.5 36

 37 Life insurance companies 139.8 151.6 125.3 74.3 77.4 54.4 79.4 51.2 124.4 133.4 101.2 37

 38 Private pension funds 9.5 120.6 73.6 146.6 49.8 28.1 90.5 41.6 38.9 -8.2 78.8 38

 39 State and local govt. retirement funds -83.1 22.4 14.4 8.0 62.9 40.8 115.4 10.7 84.6 61.9 35.7 39

 40 Federal government retirement funds 7.4 10.9 25.6 15.4 9.4 -14.0 -44.3 -381.4 477.4 6.1 9.4 40

 41 Money market mutual funds -619.9 -396.6 -9.8 -82.7 30.9 41.3 134.8 121.4 -173.7 -256.7 -354.0 41

 42 Mutual funds 387.1 353.6 359.4 642.0 363.9 690.1 239.2 231.1 295.2 329.7 482.3 42

 43 Closed-end funds 10.5 5.2 -1.7 11.2 14.3 30.6 23.8 1.1 1.5 1.8 2.8 43

 44 Exchange-traded funds 46.0 29.7 46.1 52.3 12.2 28.1 13.1 17.3 -9.7 43.8 48.2 44

 45 Government-sponsored enterprises -337.8 -288.4 -163.2 -189.4 59.8 -104.9 157.8 185.8 0.6 -188.3 102.1 45

 46 Agency- and GSE-backed mortgage pools 458.3 186.9 165.3 132.2 132.4 120.9 110.1 154.4 144.1 77.4 27.8 46

 47 ABS issuers -579.4 -402.2 -168.4 -137.0 -229.4 -139.0 -648.2 -62.4 -67.8 -147.8 -51.1 47

 48 Finance companies -214.9 -102.6 -44.4 -28.6 -19.0 -17.8 14.5 -15.3 -57.3 -2.0 17.5 48

 49 REITs -10.3 44.1 120.2 127.6 39.2 -39.2 468.8 -79.6 -193.5 64.7 35.3 49

 50 Brokers and dealers -192.1 32.2 5.7 89.1 -175.4 -147.0 -289.4 -40.6 -224.6 -57.5 -24.8 50

 51 Holding companies -16.0 22.1 3.1 -50.1 56.2 16.5 51.2 184.6 -27.6 -25.4 -8.0 51

 52 Funding corporations -311.1 39.1 -65.6 -50.1 -7.1 106.1 -102.3 12.4 -44.8 180.9 13.9 52

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Domestic 1102.4 1406.7 1292.0 1833.8 1470.9 1591.4 1157.1 1383.5 1751.7 1692.4 1542.3 1

 2 By instrument 1102.4 1406.7 1292.0 1833.8 1470.9 1591.4 1157.1 1383.5 1751.7 1692.4 1542.3 2

 3 Commercial paper -73.1 24.5 33.4 14.0 14.2 20.1 -20.1 92.0 -35.2 72.1 54.9 3

 4 Treasury securities 1443.7 1579.6 1066.8 1140.6 759.5 1057.0 412.2 307.4 1261.2 743.0 314.3 4

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

 6 Municipal securities 155.3 99.7 -52.8 -4.9 -43.2 61.4 -15.1 -105.4 -113.8 -38.0 15.7 6

 7 Corporate bonds 215.8 179.4 161.7 324.4 280.6 307.7 174.8 429.8 210.1 282.5 224.7 7

 8 Depository institution loans n.e.c. -307.7 -53.7 70.7 276.9 126.1 65.3 158.5 196.9 83.8 252.1 402.0 8

 9 Other loans and advances -164.8 -82.4 63.6 -22.7 62.4 17.4 163.0 19.7 49.3 147.5 69.6 9

 10 Mortgages -63.5 -315.7 -161.0 -63.7 97.5 -115.6 119.5 252.0 133.9 34.5 206.8 10

 11 Home 23.8 -160.4 -86.5 -71.3 3.9 -83.3 15.0 117.9 -33.8 -55.9 47.7 11

 12 Multifamily residential 4.6 -5.0 7.2 36.7 34.2 -1.7 42.6 44.7 51.1 47.1 54.2 12

 13 Commercial -103.2 -158.4 -94.8 -34.9 56.7 -33.2 59.2 86.7 113.9 37.2 98.6 13

 14 Farm 11.3 8.1 13.1 5.8 2.7 2.7 2.7 2.7 2.7 6.1 6.2 14

 15 Consumer credit -103.6 -25.3 108.5 169.7 174.3 179.0 162.9 190.6 164.8 200.7 254.3 15

 16 By sector 1102.4 1406.7 1292.0 1833.8 1470.9 1591.4 1157.1 1383.5 1751.7 1692.4 1542.3 16

 17 Household sector 1.2 -152.8 -26.4 206.0 204.1 102.7 212.6 410.7 90.6 295.3 470.6 17

 18 Nonfinancial business -455.7 -90.3 303.2 492.9 546.6 375.3 535.9 774.3 500.8 694.9 721.6 18

 19 Corporate -358.6 -70.9 260.4 405.0 431.6 386.4 380.4 627.4 332.0 586.1 443.9 19

 20 Noncorporate -97.1 -19.4 42.7 87.9 115.0 -11.1 155.6 146.9 168.8 108.8 277.7 20

 21 State and local governments 113.0 69.5 -52.7 -5.3 -38.9 57.3 -4.9 -109.4 -98.5 -38.8 35.7 21

 22 Federal government 1443.9 1580.2 1067.9 1140.2 759.1 1056.0 413.6 307.9 1258.8 741.0 314.4 22

 23 Foreign borrowing in U.S. 222.2 149.0 172.8 188.6 268.8 378.6 151.0 201.7 344.0 167.4 426.0 23

 24 Commercial paper 59.4 -2.7 -53.5 27.9 34.0 120.7 13.7 -26.6 28.1 65.2 35.3 24

 25 Bonds 177.2 127.4 181.7 124.7 194.4 225.5 108.7 183.7 259.7 46.8 329.5 25

 26 Depository institution loans n.e.c. -14.8 24.0 43.2 30.4 39.1 33.3 24.9 41.0 57.0 54.9 60.0 26

 27 Other loans and advances 0.5 0.3 1.4 5.6 1.4 -0.9 3.7 3.6 -0.8 0.5 1.1 27

 28 Domestic and foreign 1324.6 1555.7 1464.8 2022.4 1739.8 1969.9 1308.2 1585.2 2095.7 1859.9 1968.3 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 By instrument -1663.3 -899.8 -339.8 -417.6 213.7 -81.4 32.9 88.6 814.9 -295.2 352.9 1

 2 Open market paper -448.1 -102.2 -68.2 -58.8 -48.9 -36.7 -35.4 -94.4 -29.2 -83.2 30.9 2

 3 GSE issues -518.4 -233.8 -187.2 -154.6 107.5 43.1 136.7 40.2 210.1 -355.5 156.9 3

 4 Agency- and GSE-backed mortgage pool sec. 458.3 186.9 165.3 132.2 132.4 120.9 110.1 154.4 144.1 77.4 27.8 4

 5 Corporate bonds -448.4 -544.3 -235.8 -223.5 -84.3 -282.7 -334.1 19.6 260.2 31.3 115.6 5

 6 Depository institution loans n.e.c. -435.9 -62.5 32.6 -121.2 20.9 9.2 35.6 -75.5 114.4 6.1 -129.0 6

 7 Other loans and advances -282.6 -144.7 -60.0 3.5 78.3 44.2 115.4 58.6 95.1 16.0 144.2 7

 8 Mortgages 11.8 0.8 13.5 4.8 7.8 20.6 4.6 -14.3 20.2 12.6 6.5 8

 9 By sector -1663.3 -899.8 -339.8 -417.6 213.7 -81.4 32.9 88.6 814.9 -295.2 352.9 9

 10 U.S.-chartered depository institutions -292.2 -217.6 -50.5 -110.8 -33.5 -113.6 -30.3 -53.5 63.6 -25.8 106.3 10

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

 12 Credit unions -14.1 -0.4 -2.0 0.9 1.9 -11.4 4.9 12.5 1.7 1.7 10.2 12

 13 Life insurance companies -6.6 -3.2 1.8 4.8 7.8 5.2 6.5 -2.9 22.5 7.7 8.0 13

 14 Government-sponsored enterprises -518.4 -233.8 -187.2 -154.6 107.5 43.1 136.7 40.2 210.1 -355.5 156.9 14

 15 Agency- and GSE-backed mortgage pools 458.3 186.9 165.3 132.2 132.4 120.9 110.1 154.4 144.1 77.4 27.8 15

 16 ABS issuers -614.0 -411.9 -172.6 -143.4 -234.8 -143.2 -663.8 -68.8 -63.4 -153.5 -52.7 16

 17 Finance companies -156.2 -174.9 -13.5 -56.7 4.2 -28.5 4.2 41.3 -0.2 -31.5 3.0 17

 18 REITs -27.6 0.1 25.6 35.5 178.4 8.0 550.3 38.5 116.8 140.1 49.4 18

 19 Brokers and dealers -49.7 36.9 -37.9 -1.7 22.2 -4.2 55.8 -27.8 65.1 38.5 -34.5 19

 20 Holding companies -8.0 -16.5 -16.5 -99.9 0.5 -24.5 -149.7 -27.5 203.8 12.9 3.9 20

 21 Funding corporations -434.8 -65.3 -52.4 -23.9 27.0 66.9 8.1 -17.8 50.8 -7.2 74.6 21
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F.4 Credit Market Borrowing, All Sectors, by Instrument

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total -338.7 655.9 1125.0 1604.8 1953.5 1888.5 1341.1 1673.8 2910.6 1564.6 2321.2 1

 2 Open market paper -461.8 -80.4 -88.3 -16.9 -0.8 104.0 -41.8 -29.0 -36.4 54.0 121.2 2

 3 Treasury securities 1443.7 1579.6 1066.8 1140.6 759.5 1057.0 412.2 307.4 1261.2 743.0 314.3 3

 4 Agency- and GSE-backed securities -59.9 -46.2 -20.8 -22.8 239.5 163.0 248.2 195.2 351.8 -280.0 184.8 4

 5 Municipal securities 155.3 99.7 -52.8 -4.9 -43.2 61.4 -15.1 -105.4 -113.8 -38.0 15.7 5

 6 Corporate and foreign bonds -55.4 -237.5 107.6 225.6 390.8 250.5 -50.5 633.1 730.0 360.6 669.8 6

 7 Depository institution loans n.e.c. -758.5 -92.2 146.6 186.1 186.1 107.8 219.0 162.4 255.2 313.1 333.1 7

 8 Other loans and advances -446.9 -226.8 4.9 -13.6 142.1 60.7 282.1 81.9 143.5 164.0 214.9 8

 9 Mortgages -51.7 -314.8 -147.6 -58.9 105.2 -95.0 124.1 237.7 154.1 47.1 213.3 9

 10 Consumer credit -103.6 -25.3 108.5 169.7 174.3 179.0 162.9 190.6 164.8 200.7 254.3 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues 824.1 385.5 52.7 537.0 704.1 1256.5 534.7 523.2 502.1 541.1 1023.7 11

 12 Corporate equities 327.1 15.4 -285.7 -87.9 65.4 285.8 42.5 -151.7 84.8 -155.0 289.4 12

 13 Nonfinancial -52.5 -255.1 -456.7 -359.5 -373.3 -219.3 -376.1 -415.0 -483.0 -517.9 -353.4 13

 Foreign shares purchased by

 14 U.S. residents 63.7 79.2 7.0 103.3 275.2 269.2 371.3 78.7 381.8 325.0 342.5 14

 15 Financial 315.9 191.4 164.1 168.3 163.5 235.9 47.4 184.6 186.0 37.9 300.3 15

 16 Mutual fund shares 497.1 370.1 338.4 624.9 638.8 970.8 492.2 674.9 417.2 696.1 734.4 16

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 Net flows through credit markets

 1 (from table F.4, line 1) -338.7 655.9 1125.0 1604.8 1953.5 1888.5 1341.1 1673.8 2910.6 1564.6 2321.2 1

 2 U.S. official reserve assets 99.9 1.8 15.9 4.5 -3.1 3.5 -0.8 -4.0 -11.1 -3.8 3.1 2

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

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

 5 Foreign deposits -43.9 71.6 -215.0 -144.0 32.7 205.0 166.3 -4.2 -236.2 -118.5 -109.0 5

 6 Net interbank transactions -536.9 -142.8 820.5 -194.5 1111.6 1953.2 1896.2 516.4 80.5 1171.5 44.4 6

 7 Checkable deposits and currency -7.9 266.3 234.5 267.7 332.6 268.7 192.5 126.2 743.1 183.4 569.5 7

 8 Small time and savings deposits 517.2 298.3 577.4 539.6 307.0 153.2 344.1 557.4 173.2 517.3 359.2 8

 9 Large time deposits -173.6 -182.7 -173.3 -19.2 102.1 0.0 46.0 242.6 120.0 231.4 73.0 9

 10 Money market fund shares -498.7 -503.2 -112.8 7.1 28.7 -133.4 81.9 270.1 -104.0 -85.2 -143.8 10

 11 Security repurchase agreements -346.6 421.3 276.2 251.3 -477.1 -700.6 -657.6 -111.6 -438.8 257.1 281.0 11

 12 Corporate equities 327.1 15.4 -285.7 -87.9 65.4 285.8 42.5 -151.7 84.8 -155.0 289.4 12

 13 Mutual fund shares 497.1 370.1 338.4 624.9 638.8 970.8 492.2 674.9 417.2 696.1 734.4 13

 14 Trade payables 7.8 154.9 81.6 143.3 181.4 173.0 220.8 194.2 137.7 58.3 243.9 14

 15 Security credit -5.4 105.0 -7.4 97.7 104.3 -9.8 172.3 44.8 209.9 147.6 240.0 15

 16 Life insurance reserves 27.4 14.5 81.2 -11.9 30.0 11.7 28.7 45.3 34.4 64.6 17.1 16

 17 Pension entitlements 397.6 595.8 499.2 497.9 494.9 447.9 441.4 499.2 591.3 514.8 570.3 17

 18 Taxes payable -3.4 19.4 20.6 11.2 11.4 27.2 -91.5 34.3 75.6 33.2 43.8 18

 19 Noncorporate proprietors’ equity -111.5 159.8 -61.4 -5.4 -46.8 -1.9 -59.8 -75.1 -50.7 10.8 -57.0 19

 20 Miscellaneous 247.3 601.9 1232.5 1152.9 1397.0 2239.7 402.6 2155.5 790.3 2253.4 1384.8 20

 21 Total financial sources 518.3 3430.0 5102.6 5248.3 6849.9 8268.9 5705.4 7265.1 6160.2 7095.3 7436.7 21

 - Liabilities not identified as assets:

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

 23 Foreign deposits -55.1 49.2 -136.3 -137.7 -12.4 87.1 152.9 -9.9 -279.9 -8.4 -135.3 23

 24 Net interbank liabilities 14.5 25.8 3.5 5.7 56.8 391.9 -131.1 -219.3 185.7 189.5 -64.2 24

 25 Security repurchase agreements 207.1 55.0 68.7 -9.6 -167.0 -472.3 -137.3 13.9 -72.1 -138.5 -171.5 25

 26 Taxes payable -33.5 -8.6 -7.0 -18.7 -19.5 -16.9 -108.5 8.4 39.0 -23.7 -71.4 26

 27 Miscellaneous 235.3 301.0 614.3 542.8 75.3 -26.5 -685.0 1078.7 -65.9 -21.9 -243.2 27

 - Floats not included in assets:

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

 29 Federal govt. 0.7 0.0 -0.1 0.6 0.4 -44.4 96.2 3.6 -53.6 -43.2 97.6 29

 30 Private domestic -1.0 -1.1 0.9 0.9 -1.2 -5.2 2.2 1.0 -2.8 4.0 0.1 30

 31 Trade credit 122.7 -10.2 -31.4 33.8 8.1 -40.4 -16.7 24.2 65.1 -60.7 18.1 31

 Totals identified to sectors

 32 as assets 32.1 3020.0 4590.6 4831.1 6910.4 8396.4 6533.3 6366.6 6345.2 7199.3 8007.3 32
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L.1 Credit Market Debt Outstanding (1)

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

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total credit market debt owed by: 52181.2 52322.3 53272.2 55050.6 56685.7 55433.9 55551.5 55936.2 56685.7 57088.5 57538.9 1

 2 Domestic nonfinancial sectors 34460.2 35608.6 36750.6 38420.1 39771.1 38791.7 38947.3 39265.9 39771.1 40194.1 40435.5 2

 3 Household sector 13558.9 13229.8 13060.9 13063.5 13179.2 13008.9 13036.7 13145.1 13179.2 13180.9 13285.1 3

 4 Nonfinancial corporate business 6142.1 6004.4 6264.8 6713.3 7118.0 6794.3 6910.4 7049.6 7118.0 7261.9 7374.5 4

 5 Nonfinancial noncorporate business 3985.4 3950.9 3986.1 4069.5 4180.0 4063.5 4101.0 4136.3 4180.0 4204.7 4273.1 5

 6 State and local governments 2968.4 3038.0 2985.3 2980.0 2941.1 2994.9 2986.4 2953.1 2941.1 2931.8 2934.4 6

 7 Federal government 7805.4 9385.6 10453.6 11593.7 12352.8 11930.1 11912.9 11981.9 12352.8 12614.8 12568.4 7

 8 Rest of the world 2006.5 2258.5 2485.5 2828.0 2966.2 2889.7 2841.6 2907.9 2966.2 3037.2 3149.3 8

 9 Financial sectors 15714.5 14455.3 14036.1 13802.5 13948.4 13752.5 13762.7 13762.4 13948.4 13857.2 13954.0 9

 10 U.S.-chartered depository institutions 718.1 882.9 832.4 720.3 686.9 674.1 680.9 659.8 686.9 662.4 705.0 10

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

 12 Credit unions 26.5 26.1 24.2 25.1 27.0 22.2 23.5 26.6 27.0 27.4 30.0 12

 13 Life insurance companies 48.3 45.1 46.8 51.6 59.4 52.9 54.5 53.8 59.4 61.3 63.3 13

 14 Government-sponsored enterprises 2706.6 6434.5 6247.3 6092.7 6200.2 6103.5 6137.6 6147.7 6200.2 6111.4 6150.6 14

 15 Agency- and GSE-backed mortgage pools 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 1600.0 15

 16 ABS issuers 3291.1 2235.4 1988.9 1769.6 1481.2 1716.5 1535.6 1505.1 1481.2 1433.3 1412.7 16

 17 Finance companies 1044.1 1280.7 1261.9 1205.1 1209.3 1193.0 1196.0 1206.6 1209.3 1196.8 1197.7 17

 18 REITs 339.8 339.9 365.5 401.0 579.4 403.0 540.6 550.2 579.4 614.4 626.8 18

 19 Brokers and dealers 92.9 129.7 91.8 90.2 112.4 89.1 103.1 96.1 112.4 122.0 113.4 19

 20 Holding companies 1253.7 1237.2 1220.8 1416.4 1402.7 1410.3 1372.9 1363.4 1402.7 1405.9 1406.9 20

 21 Funding corporations 816.8 704.2 651.8 593.5 620.5 625.2 619.9 612.2 620.5 636.5 647.8 21

 22 Total credit market assets held by: 52181.2 52322.3 53272.2 55050.6 56685.7 55433.9 55551.5 55936.2 56685.7 57088.5 57538.9 22

 23 Domestic nonfinancial sectors 7370.2 7620.3 7044.3 6987.4 6719.3 6868.6 6804.5 6722.8 6719.3 6546.3 6492.6 23

 24 Household sector 4827.7 4912.3 4374.0 4169.1 3848.8 4016.0 3936.7 3862.7 3848.8 3633.8 3535.9 24

 25 Nonfinancial corporate business 223.1 229.4 222.3 212.3 169.0 178.7 179.7 172.1 169.0 162.3 159.6 25

 26 Nonfinancial noncorporate business 89.1 95.8 96.8 98.1 100.2 98.3 98.9 99.5 100.2 100.7 101.8 26

 27 State and local governments 1526.1 1590.4 1540.5 1592.3 1561.5 1613.1 1609.7 1567.1 1561.5 1567.7 1599.0 27

 28 Federal government 704.3 792.4 810.7 915.6 1039.8 962.5 979.6 1021.4 1039.8 1081.8 1096.4 28

 29 Rest of the world 7662.4 8413.9 8944.8 9508.7 9732.3 9637.8 9426.0 9564.6 9732.3 9966.9 10032.7 29

 30 Financial sectors 37148.6 36288.2 37283.1 38554.4 40234.2 38927.6 39321.0 39648.9 40234.2 40575.2 41013.5 30

 31 Monetary authority 1987.7 2259.2 2635.6 2670.1 3756.3 2939.8 3214.2 3475.1 3756.3 3970.1 4108.2 31

 32 U.S.-chartered depository institutions 9117.4 9356.2 9489.9 9866.3 10101.0 9833.4 9896.3 9925.3 10101.0 10167.7 10367.8 32

 33 Foreign banking offices in U.S. 809.7 785.2 827.7 833.5 826.3 816.4 802.2 819.3 826.3 845.6 855.9 33

 34 Banks in U.S.-affiliated areas 88.1 68.9 64.0 63.9 64.1 63.6 63.6 62.7 64.1 64.1 61.6 34

 35 Credit unions 734.6 758.6 796.2 842.3 891.8 855.1 874.1 886.7 891.8 903.8 926.4 35

 36 Property-casualty insurance companies 886.7 890.6 926.8 927.8 953.1 933.4 936.7 943.5 953.1 950.5 954.1 36

 37 Life insurance companies 3022.6 3174.2 3299.6 3373.9 3451.3 3384.5 3406.3 3424.4 3451.3 3481.0 3508.5 37

 38 Private pension funds 775.5 896.1 969.7 1116.4 1166.1 1123.4 1146.0 1156.4 1166.1 1164.1 1183.8 38

 39 State and local govt. retirement funds 772.9 795.3 809.7 817.7 880.6 827.9 856.7 859.4 880.6 896.0 905.0 39

 40 Federal government retirement funds 130.9 141.8 167.3 182.7 192.1 179.2 168.1 72.8 192.1 193.6 196.0 40

 41 Money market mutual funds 2070.0 1673.4 1663.6 1580.9 1611.8 1562.4 1550.5 1573.6 1611.8 1520.4 1387.3 41

 42 Mutual funds 2616.3 2969.9 3329.3 3981.3 4345.2 4184.5 4242.8 4287.7 4345.2 4462.9 4580.3 42

 43 Closed-end funds 141.1 146.4 144.7 155.9 170.1 163.5 169.5 169.8 170.1 170.6 171.3 43

 44 Exchange-traded funds 103.0 132.7 178.8 231.1 243.3 238.2 241.4 245.8 243.3 254.3 266.3 44

 45 Government-sponsored enterprises 2699.7 6333.1 6133.4 5914.8 5956.4 5899.5 5932.8 5954.6 5956.4 5924.2 5945.4 45

 46 Agency- and GSE-backed mortgage pools 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 1600.0 46

 47 ABS issuers 3227.5 2183.6 1941.3 1728.4 1445.5 1676.4 1499.4 1470.4 1445.5 1399.0 1378.8 47

 48 Finance companies 1549.7 1405.4 1359.6 1324.9 1305.4 1311.6 1310.6 1311.2 1305.4 1293.8 1294.5 48

 49 REITs 167.2 211.1 331.2 458.5 497.6 448.7 565.9 546.0 497.6 513.7 522.5 49

 50 Brokers and dealers 525.3 557.5 563.2 652.3 476.9 602.7 516.9 499.1 476.9 450.6 430.7 50

 51 Holding companies 75.8 97.9 101.1 209.2 151.8 213.3 226.1 217.8 151.8 145.5 143.5 51

 52 Funding corporations 270.2 311.6 245.8 185.4 177.9 207.4 202.8 206.6 177.9 218.0 225.7 52

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

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

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Domestic 34460.2 35608.6 36750.6 38420.1 39771.1 38791.7 38947.3 39265.9 39771.1 40194.1 40435.5 1

 2 By instrument 34460.2 35608.6 36750.6 38420.1 39771.1 38791.7 38947.3 39265.9 39771.1 40194.1 40435.5 2

 3 Commercial paper 58.4 82.9 116.3 130.3 144.5 140.1 147.2 171.2 144.5 180.2 185.9 3

 4 Treasury securities 7781.9 9361.5 10428.3 11568.9 12328.3 11905.5 11887.9 11956.8 12328.3 12590.8 12544.4 4

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

 6 Municipal securities 3672.5 3772.1 3719.4 3714.4 3671.2 3728.6 3721.1 3685.7 3671.2 3660.8 3661.4 6

 7 Corporate bonds 3188.4 3367.8 3529.5 3853.9 4134.5 3930.8 3974.5 4082.0 4134.5 4205.2 4261.3 7

 8 Depository institution loans n.e.c. 1474.2 1465.6 1541.7 1742.8 1868.8 1737.2 1779.9 1825.3 1868.8 1908.7 2015.2 8

 9 Other loans and advances 1458.4 1269.4 1333.0 1372.4 1407.9 1372.5 1413.5 1404.5 1407.9 1440.6 1458.5 9

 10 Mortgages 14250.1 13617.6 13301.2 13088.8 13093.4 13028.6 13031.7 13078.8 13093.4 13080.4 13115.7 10

 11 Home 10937.8 10445.4 10203.5 9983.6 9894.5 9932.4 9908.9 9921.6 9894.5 9860.3 9855.4 11

 12 Multifamily residential 827.7 824.1 831.3 868.0 902.1 867.5 878.2 889.4 902.1 913.9 927.5 12

 13 Commercial 2338.6 2194.0 2099.2 2064.3 2121.0 2054.9 2070.3 2092.9 2121.0 2129.0 2154.0 13

 14 Farm 146.0 154.1 167.2 173.0 175.7 173.7 174.3 175.0 175.7 177.2 178.8 14

 15 Consumer credit 2552.8 2647.4 2755.9 2923.6 3097.9 2923.8 2966.4 3036.6 3097.9 3103.5 3169.0 15

 16 By sector 34460.2 35608.6 36750.6 38420.1 39771.1 38791.7 38947.3 39265.9 39771.1 40194.1 40435.5 16

 17 Household sector 13558.9 13229.8 13060.9 13063.5 13179.2 13008.9 13036.7 13145.1 13179.2 13180.9 13285.1 17

 18 Nonfinancial business 10127.5 9955.2 10250.9 10782.8 11298.0 10857.8 11011.4 11185.9 11298.0 11466.6 11647.6 18

 19 Corporate 6142.1 6004.4 6264.8 6713.3 7118.0 6794.3 6910.4 7049.6 7118.0 7261.9 7374.5 19

 20 Noncorporate 3985.4 3950.9 3986.1 4069.5 4180.0 4063.5 4101.0 4136.3 4180.0 4204.7 4273.1 20

 21 State and local governments 2968.4 3038.0 2985.3 2980.0 2941.1 2994.9 2986.4 2953.1 2941.1 2931.8 2934.4 21

 22 Federal government 7805.4 9385.6 10453.6 11593.7 12352.8 11930.1 11912.9 11981.9 12352.8 12614.8 12568.4 22

 Foreign credit market debt

 23 held in U.S. 2006.5 2258.5 2485.5 2828.0 2966.2 2889.7 2841.6 2907.9 2966.2 3037.2 3149.3 23

 24 Commercial paper 401.3 398.6 345.1 373.0 407.0 407.4 417.4 405.9 407.0 413.8 435.1 24

 25 Bonds 1447.8 1677.6 1913.6 2186.5 2250.4 2205.8 2140.5 2207.2 2250.4 2300.6 2376.2 25

 26 Depository institution loans n.e.c. 137.5 162.0 205.2 237.7 276.7 246.0 252.2 262.5 276.7 290.5 305.5 26

 27 Other loans and advances 19.9 20.2 21.5 30.8 32.2 30.5 31.5 32.4 32.2 32.3 32.6 27

 28 Domestic and foreign 36466.7 37867.1 39236.1 41248.0 42737.3 41681.4 41788.9 42173.8 42737.3 43231.3 43584.8 28

L.3 Credit Market Debt Owed by Financial Sectors

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

 1 By instrument 15714.5 14455.3 14036.1 13802.5 13948.4 13752.5 13762.7 13762.4 13948.4 13857.2 13954.0 1

 2 Open market paper 678.2 576.0 507.9 449.1 400.2 453.8 426.0 399.9 400.2 398.2 384.5 2

 3 GSE issues 2706.6 6434.5 6247.3 6092.7 6200.2 6103.5 6137.6 6147.7 6200.2 6111.4 6150.6 3

 4 Agency- and GSE-backed mortgage pool sec. 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 1600.0 4

 5 Corporate bonds 5735.6 5282.4 4972.6 4870.5 4718.3 4782.5 4691.3 4679.8 4718.3 4714.8 4745.2 5

 6 Depository institution loans n.e.c. 424.2 373.6 400.8 342.3 363.2 340.6 355.9 337.1 363.2 360.8 333.9 6

 7 Other loans and advances 617.9 473.2 413.1 416.6 494.9 409.9 453.1 460.0 494.9 480.9 532.9 7

 8 Mortgages 175.3 176.1 189.5 194.4 202.2 199.5 200.7 197.1 202.2 205.3 206.9 8

 9 By sector 15714.5 14455.3 14036.1 13802.5 13948.4 13752.5 13762.7 13762.4 13948.4 13857.2 13954.0 9

 10 U.S.-chartered depository institutions 718.1 882.9 832.4 720.3 686.9 674.1 680.9 659.8 686.9 662.4 705.0 10

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

 12 Credit unions 26.5 26.1 24.2 25.1 27.0 22.2 23.5 26.6 27.0 27.4 30.0 12

 13 Life insurance companies 48.3 45.1 46.8 51.6 59.4 52.9 54.5 53.8 59.4 61.3 63.3 13

 14 Government-sponsored enterprises 2706.6 6434.5 6247.3 6092.7 6200.2 6103.5 6137.6 6147.7 6200.2 6111.4 6150.6 14

 15 Agency- and GSE-backed mortgage pools 5376.7 1139.5 1304.8 1437.0 1569.4 1462.7 1498.1 1540.8 1569.4 1585.8 1600.0 15

 16 ABS issuers 3291.1 2235.4 1988.9 1769.6 1481.2 1716.5 1535.6 1505.1 1481.2 1433.3 1412.7 16

 17 Finance companies 1044.1 1280.7 1261.9 1205.1 1209.3 1193.0 1196.0 1206.6 1209.3 1196.8 1197.7 17

 18 REITs 339.8 339.9 365.5 401.0 579.4 403.0 540.6 550.2 579.4 614.4 626.8 18

 19 Brokers and dealers 92.9 129.7 91.8 90.2 112.4 89.1 103.1 96.1 112.4 122.0 113.4 19

 20 Holding companies 1253.7 1237.2 1220.8 1416.4 1402.7 1410.3 1372.9 1363.4 1402.7 1405.9 1406.9 20

 21 Funding corporations 816.8 704.2 651.8 593.5 620.5 625.2 619.9 612.2 620.5 636.5 647.8 21
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L.4 Credit Market Debt, All Sectors, by Instrument

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

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total 52181.2 52322.3 53272.2 55050.6 56685.7 55433.9 55551.5 55936.2 56685.7 57088.5 57538.9 1

 2 Open market paper 1138.0 1057.6 969.3 952.4 951.6 1001.2 990.6 976.9 951.6 992.2 1005.5 2

 3 Treasury securities 7781.9 9361.5 10428.3 11568.9 12328.3 11905.5 11887.9 11956.8 12328.3 12590.8 12544.4 3

 4 Agency- and GSE-backed securities 8106.8 7598.2 7577.4 7554.6 7794.1 7590.8 7660.7 7713.6 7794.1 7721.1 7774.6 4

 5 Municipal securities 3672.5 3772.1 3719.4 3714.4 3671.2 3728.6 3721.1 3685.7 3671.2 3660.8 3661.4 5

 6 Corporate and foreign bonds 10371.8 10327.8 10415.7 10910.9 11103.2 10919.1 10806.3 10969.0 11103.2 11220.6 11382.8 6

 7 Depository institution loans n.e.c. 2035.9 2001.2 2147.8 2322.7 2508.8 2323.8 2388.1 2424.8 2508.8 2560.0 2654.5 7

 8 Other loans and advances 2096.1 1762.8 1767.7 1819.8 1935.0 1812.9 1898.0 1896.8 1935.0 1953.8 2024.0 8

 9 Mortgages 14425.4 13793.7 13490.7 13283.2 13295.5 13228.1 13232.4 13275.9 13295.5 13285.8 13322.6 9

 10 Consumer credit 2552.8 2647.4 2755.9 2923.6 3097.9 2923.8 2966.4 3036.6 3097.9 3103.5 3169.0 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 20085.5 23567.2 22960.8 26237.2 33671.6 28730.7 29254.4 31186.3 33671.6 34230.4 35820.7 11

 12 Mutual fund shares 6920.7 7873.0 7870.9 9326.1 11544.8 10088.7 10297.9 10904.9 11544.8 11898.6 12314.0 12

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

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

 Total credit market debt

 1 (from table L.4) 52181.2 52322.3 53272.2 55050.6 56685.7 55433.9 55551.5 55936.2 56685.7 57088.5 57538.9 1

 2 U.S. official reserve assets 174.8 175.5 190.9 193.2 187.7 188.1 187.6 190.7 187.7 187.7 189.1 2

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

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

 5 Foreign deposits 1258.4 1303.9 1066.4 922.8 954.8 974.1 1015.6 1014.7 954.8 927.9 906.4 5

 6 Net interbank liabilities 1215.5 1068.5 1889.0 1683.8 2795.4 2096.9 2580.4 2767.7 2795.4 3006.6 3020.2 6

 7 Checkable deposits and currency 2093.4 2359.8 2594.3 2853.8 3186.5 2872.9 2892.3 2924.6 3186.5 3183.8 3293.3 7

 8 Small time and savings deposits 6326.5 6624.9 7202.2 7803.9 8110.8 7869.1 7890.1 8052.9 8110.8 8265.3 8291.6 8

 9 Large time deposits 2105.9 1923.2 1750.0 1659.9 1762.0 1652.5 1682.4 1736.8 1762.0 1810.4 1849.4 9

 10 Money market fund shares 3258.6 2755.4 2642.5 2649.6 2678.3 2553.8 2541.9 2638.9 2678.3 2592.5 2522.4 10

 11 Security repurchase agreements 3175.6 3597.9 3878.7 4130.1 3652.9 3962.5 3798.2 3766.8 3652.9 3722.7 3791.7 11

 12 Mutual fund shares 6920.7 7873.0 7870.9 9326.1 11544.8 10088.7 10297.9 10904.9 11544.8 11898.6 12314.0 12

 13 Security credit 936.7 1041.7 1034.2 1131.9 1236.2 1129.5 1172.5 1183.8 1236.2 1273.1 1333.1 13

 14 Life insurance reserves 1242.1 1278.3 1352.0 1359.0 1416.5 1370.1 1378.3 1397.4 1416.5 1434.4 1443.7 14

 15 Pension entitlements 15455.1 17031.7 17444.7 18457.8 19886.1 18930.7 19085.2 19440.8 19886.1 20085.5 20406.1 15

 16 Trade payables 3216.0 3370.8 3452.5 3593.3 3760.9 3636.9 3703.2 3734.2 3760.9 3779.0 3849.6 16

 17 Taxes payable 40.6 53.1 74.0 79.5 90.9 97.0 68.6 80.2 90.9 110.0 114.9 17

 18 Miscellaneous 15807.7 15907.9 16567.2 17363.9 17190.4 17454.1 17377.7 17513.4 17190.4 17361.7 17416.2 18

 19 Total liabilities 121915.7 125616.2 129711.1 136257.6 143631.9 138395.1 139438.7 141668.0 143631.9 145229.1 146989.6 19

 + Financial assets not included in

 liabilities:

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

 21 Corporate equities 20085.5 23567.2 22960.8 26237.2 33671.6 28730.7 29254.4 31186.3 33671.6 34230.4 35820.7 21

 22 Household equity in noncorp. bus. 6301.6 6939.4 7418.3 8086.4 9057.7 8299.8 8561.8 8842.6 9057.7 9127.6 9188.4 22

 - Liabilities not identified as assets:

 23 Treasury currency -16.5 -17.6 -18.3 -18.8 -19.9 -19.0 -19.2 -19.8 -19.9 -20.2 -20.4 23

 24 Foreign deposits 1067.0 1090.1 931.3 794.0 780.8 815.8 854.0 851.6 780.8 781.4 753.3 24

 25 Net interbank transactions 3.0 24.8 28.3 20.1 76.9 49.9 26.6 32.9 76.9 49.8 36.4 25

 26 Security repurchase agreements 206.4 255.3 324.5 205.6 38.6 127.8 85.1 63.2 38.6 46.6 -12.0 26

 27 Taxes payable -210.4 -209.0 -198.8 -200.4 -198.7 -185.2 -216.2 -207.2 -198.7 -186.2 -182.1 27

 28 Miscellaneous -5388.6 -5900.9 -6109.9 -6216.7 -6604.6 -6290.4 -6502.7 -6335.6 -6604.6 -6820.0 -6956.7 28

 - Floats not included in assets:

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

 30 Federal govt. 1.7 2.2 2.3 2.1 1.2 1.3 0.9 1.2 1.2 1.6 1.8 30

 31 Private domestic 4.2 3.2 4.1 4.9 3.7 3.3 4.1 4.5 3.7 4.4 4.6 31

 32 Trade credit 245.1 238.5 207.2 238.4 240.6 167.4 132.4 141.6 240.6 162.5 134.6 32

 33 Totals identified to sectors as assets 152401.9 160647.2 164930.7 175763.2 192053.6 180765.7 182901.0 187175.5 192053.6 194578.1 198250.1 33
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F.6 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross Domestic Product (GDP) 14418.7 14964.4 15517.9 16163.1 16768.0 16502.4 16619.2 16872.3 17078.3 17044.0 17311.3 1

 2 Personal consumption expenditures (2) 9847.0 10202.2 10689.3 11083.1 11484.3 11351.1 11414.3 11518.7 11653.3 11728.5 11867.8 2

 3 Durable goods 1023.3 1070.7 1125.3 1192.1 1249.3 1237.8 1245.4 1252.4 1261.5 1262.3 1299.2 3

 4 Nondurable goods 2175.1 2292.1 2471.1 2549.8 2601.9 2594.4 2575.6 2612.9 2624.6 2628.4 2664.1 4

 5 Services 6648.5 6839.4 7092.8 7341.3 7633.2 7518.9 7593.2 7653.4 7767.2 7837.8 7904.5 5

 6 Gross private domestic investment 1878.1 2100.8 2239.9 2479.2 2648.0 2543.3 2594.6 2708.9 2745.2 2714.4 2834.2 6

 7 Fixed investment (3) 2025.7 2039.3 2198.1 2414.3 2573.9 2499.1 2543.8 2598.1 2654.6 2674.3 2734.8 7

 8 Nonresidential 1633.4 1658.2 1812.1 1972.0 2054.0 2010.3 2026.9 2060.2 2118.7 2134.6 2184.6 8

 9 Household sector (nonprofit organizations) 147.1 134.1 130.8 134.9 136.0 136.1 134.9 136.0 137.0 132.9 136.0 9

 10 Nonfinancial corporate business 1140.6 1178.1 1299.2 1415.1 1475.9 1443.1 1456.7 1480.6 1523.0 1535.5 1571.1 10

 11 Nonfinancial noncorporate business 178.9 183.3 214.6 231.8 240.7 231.3 236.9 242.2 252.2 259.8 265.1 11

 12 Financial institutions 166.9 162.8 167.5 190.2 201.5 199.7 198.4 201.3 206.4 206.3 212.4 12

 13 Residential 392.2 381.1 386.0 442.3 519.9 488.9 516.9 538.0 535.9 539.7 550.2 13

 14 Household sector 321.0 318.3 321.1 368.0 433.4 407.1 430.8 448.6 447.1 434.8 444.8 14

 15 Nonfinancial corporate business 4.7 0.5 -1.8 0.1 -8.1 -40.3 4.3 13.6 -10.1 28.8 4.1 15

 16 Nonfinancial noncorporate business 65.8 58.3 60.2 68.9 79.9 75.7 79.6 82.4 82.0 79.8 81.5 16

 17 REITs 0.7 4.0 6.5 5.3 14.7 46.3 2.3 -6.6 17.0 -3.6 19.7 17

 18 Change in private inventories -147.6 61.5 41.8 64.9 74.1 44.2 50.8 110.7 90.5 40.1 99.4 18

 19 Nonfinancial corporate business -130.8 57.9 34.9 61.8 56.7 32.3 37.6 85.9 71.0 32.9 81.8 19

 20 Nonfinancial noncorporate business -16.8 3.6 6.8 3.0 17.4 11.9 13.2 24.8 19.5 7.2 17.5 20

 21 Net U.S. exports of goods and services -395.4 -512.7 -580.0 -568.3 -508.2 -528.0 -532.0 -509.9 -462.9 -538.0 -551.8 21

 22 Exports 1587.7 1852.3 2106.4 2194.2 2262.2 2219.4 2236.4 2268.4 2324.6 2284.7 2340.0 22

 23 - Imports 1983.2 2365.0 2686.4 2762.5 2770.4 2747.4 2768.4 2778.3 2787.5 2822.7 2891.8 23

 Government consumption expenditures and

 24 gross investment 3089.1 3174.0 3168.7 3169.2 3143.9 3135.9 3142.4 3154.7 3142.7 3139.1 3161.1 24

 25 Consumption expenditures (4) 2442.1 2522.2 2530.9 2549.7 2547.6 2543.6 2544.9 2555.9 2545.9 2564.5 2572.7 25

 26 Federal 933.7 1003.9 1006.1 1003.6 963.0 970.2 965.2 965.7 951.1 957.1 955.6 26

 27 State and local 1508.4 1518.3 1524.8 1546.1 1584.5 1573.3 1579.7 1590.2 1594.9 1607.4 1617.1 27

 28 Gross investment (4) 647.0 651.8 637.9 619.4 596.3 592.4 597.4 598.7 596.7 574.6 588.4 28

 29 Federal 284.0 300.0 297.4 287.8 268.5 271.7 268.9 268.2 265.1 251.0 254.9 29

 30 State and local 363.0 351.9 340.5 331.6 327.8 320.7 328.5 330.5 331.6 323.6 333.5 30

 Memo:

 31 Net U.S. income receipts from rest of the world 151.0 206.0 246.6 227.4 224.3 208.8 214.9 230.8 242.9 211.0 221.0 31

 32 U.S. income receipts 648.9 720.0 792.6 793.8 810.4 791.2 804.4 814.2 831.8 822.6 831.5 32

 33 - U.S. income payments 497.8 514.1 546.0 566.5 586.1 582.4 589.5 583.4 588.9 611.6 610.5 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 14569.8 15170.4 15764.6 16390.5 16992.4 16711.2 16834.0 17103.1 17321.2 17255.0 17532.3 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -9.7 -8.5 -7.8 -7.7 -7.9 -7.9 -8.0 -7.9 -7.8 -7.6 -7.4 35

 36 Nonfinancial corporate business 6.3 -1.1 -0.5 0.9 1.3 0.8 1.7 2.6 0.3 0.3 0.5 36

 37 State and local governments 12.3 10.6 9.2 8.7 9.0 9.0 9.0 9.0 8.9 8.6 8.4 37

 38 Federal governments -8.9 -1.0 -0.9 -1.9 -2.4 -1.9 -2.8 -3.7 -1.3 -1.3 -1.9 38

 39 Rest of the world 0.0 -0.0 -0.0 -0.1 0.0 0.0 0.0 0.0 0.0 -0.1 0.4 39

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 National Income 12126.1 12739.5 13352.3 14069.5 14577.1 14376.1 14511.5 14650.5 14770.2 14733.7 15013.2 1

 2 Compensation of employees 7787.0 7961.4 8269.0 8606.5 8844.8 8734.4 8826.3 8871.6 8946.8 9096.2 9215.0 2

 3 Wages and other labor income 7328.9 7492.1 7775.1 8092.6 8318.6 8214.2 8300.9 8344.1 8415.3 8553.4 8665.5 3

 4 Employer social insurance contributions 458.1 469.4 493.9 513.9 526.1 520.2 525.4 527.5 531.5 542.8 549.5 4

 Proprietors’ income with inventory

 5 valuation and capital consumption adjustments 973.0 1032.7 1143.7 1260.2 1336.6 1327.8 1330.0 1345.9 1342.7 1351.0 1376.4 5

 Rental income of persons (with capital

 6 consumption adjustment) 333.7 402.8 485.3 533.0 595.8 575.0 590.8 604.2 613.3 622.9 636.4 6

 Corporate profits with inventory

 7 valuation and capital consumption adjustments 1397.0 1746.4 1816.6 2022.8 2106.9 2039.4 2103.6 2140.7 2143.8 1942.1 2097.0 7

 Corporate profits with inventory

 8 valuation adjustment 1479.2 1799.7 1738.5 2126.6 2238.7 2167.3 2235.0 2273.7 2278.6 2272.6 2428.3 8

 9 Profits before tax 1472.6 1840.7 1806.8 2136.1 2235.3 2169.0 2219.8 2270.9 2281.6 2297.2 2441.8 9

 10 Domestic nonfinancial 752.5 1039.2 1008.9 1245.4 1298.8 1278.0 1301.2 1307.3 1308.7 1418.8 1527.5 10

 11 Domestic financial 362.9 406.3 375.9 488.9 533.5 504.9 525.5 554.1 549.4 480.8 511.9 11

 12 Rest of the world 357.2 395.2 421.9 401.8 403.1 386.1 393.1 409.6 423.5 397.5 402.4 12

 Less:

 13 Taxes on corporate income 269.4 370.6 379.1 454.8 474.3 474.9 459.2 467.5 495.4 562.3 602.0 13

 14 Domestic nonfinancial 177.8 220.6 228.8 271.4 329.3 330.3 326.0 319.3 341.8 366.2 390.4 14

 15 Domestic financial 91.6 150.0 150.3 183.4 144.9 144.6 133.1 148.3 153.6 196.1 211.6 15

 Equals:

 16 Profits after tax 1203.1 1470.1 1427.7 1681.3 1761.1 1694.1 1760.7 1803.4 1786.1 1734.9 1839.8 16

 17 Net dividends 574.6 564.0 703.7 857.1 959.6 835.5 1098.7 911.7 992.3 902.8 901.5 17

 18 Domestic nonfinancial 351.4 375.5 441.0 520.6 536.9 517.3 515.9 597.8 516.5 575.0 556.9 18

 19 Domestic financial 105.1 67.1 107.7 159.7 289.8 180.2 420.6 218.8 339.6 165.5 157.8 19

 20 Rest of the world 118.1 121.4 154.9 176.9 132.9 138.0 162.2 95.0 136.2 162.3 186.7 20

 21 Undistributed profits 628.5 906.2 724.0 824.2 801.5 858.6 661.9 891.7 793.8 832.1 938.3 21

 22 Domestic nonfinancial 223.3 443.1 339.1 453.5 432.6 430.4 459.3 390.2 450.4 477.6 580.1 22

 23 Domestic financial 166.2 189.3 117.9 145.8 98.7 180.0 -28.3 187.0 56.2 119.3 142.5 23

 24 Rest of the world 239.1 273.8 267.0 225.0 270.2 248.1 230.9 314.5 287.3 235.2 215.7 24

 25 Inventory valuation adjustment 6.7 -41.0 -68.3 -9.5 3.3 -1.7 15.2 2.8 -3.0 -24.6 -13.5 25

 26 Capital consumption adjustment -82.2 -53.3 78.1 -103.8 -131.8 -127.9 -131.4 -133.1 -134.8 -330.5 -331.3 26

 27 Domestic nonfinancial -41.1 -15.2 98.3 -66.5 -88.3 -85.9 -88.1 -89.1 -90.3 -268.4 -268.7 27

 28 Domestic financial -41.2 -38.1 -20.2 -37.3 -43.5 -41.9 -43.3 -44.0 -44.6 -62.1 -62.5 28

 29 Net interest and miscellaneous payments 563.4 489.4 488.1 491.7 499.8 517.4 477.1 493.3 511.2 506.5 460.8 29

 30 Taxes on production and imports 1026.1 1057.1 1102.6 1132.0 1162.4 1154.8 1152.2 1167.1 1175.7 1184.5 1195.3 30

 31 Less: Subsidies 58.3 55.9 60.1 58.0 60.2 60.0 61.1 60.6 58.9 57.7 56.5 31

 32 Business current transfer payments (net) 124.9 128.5 131.5 106.7 120.6 115.1 122.3 118.4 126.6 119.2 122.5 32

 33 Current surplus of government enterprises -20.6 -22.9 -24.5 -25.3 -29.6 -27.8 -29.6 -30.1 -31.0 -31.1 -33.6 33

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 34 National Income, from line 1 above 12126.1 12739.5 13352.3 14069.5 14577.1 14376.1 14511.5 14650.5 14770.2 14733.7 15013.2 34

 Plus:

 35 Private consumption of fixed capital 1925.7 1923.5 1971.1 2034.2 2120.8 2083.9 2108.2 2132.5 2158.7 2183.5 2203.1 35

 36 Government consumption of fixed capital 442.7 458.1 479.6 496.0 506.4 501.5 504.5 507.8 511.8 515.2 518.5 36

 37 Statistical discrepancy 75.3 49.2 -38.3 -209.2 -211.9 -250.3 -290.2 -187.6 -119.5 -177.5 -202.5 37

 Less:

 38 Net U.S. income receipts from rest of the world 151.0 206.0 246.6 227.4 224.3 208.8 214.9 230.8 242.9 211.0 221.0 38

 Equals:

 39 Gross Domestic Product 14418.7 14964.4 15517.9 16163.1 16768.0 16502.4 16619.2 16872.3 17078.3 17044.0 17311.3 39

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Gross saving 2072.5 2255.5 2435.6 2825.6 3034.1 2930.0 3022.9 3074.8 3108.5 3000.9 3191.5 1

 2 Net saving -295.8 -126.1 -15.1 295.4 406.8 344.6 410.2 434.6 438.0 302.1 470.0 2

 3 Net private saving 1224.9 1439.9 1445.0 1607.1 1281.1 1308.7 1192.5 1414.2 1208.9 1103.2 1286.1 3

 4 Domestic business 552.9 811.9 733.9 710.9 673.0 729.0 545.7 761.5 656.0 477.1 593.6 4

 5 Nonfinancial corporate business 381.0 603.5 584.2 563.7 571.3 539.0 579.9 593.8 572.6 492.0 529.6 5

 6 Financial business 171.9 208.4 149.7 147.2 101.7 189.9 -34.2 167.7 83.4 -15.0 64.0 6

 7 Households and institutions 672.0 628.0 711.1 896.2 608.1 579.8 646.9 652.8 552.9 626.1 692.5 7

 8 Net government saving -1520.8 -1566.0 -1460.1 -1311.7 -874.3 -964.2 -782.3 -979.7 -770.9 -801.0 -816.1 8

 9 Federal -1248.8 -1328.7 -1244.1 -1079.1 -649.1 -746.1 -561.2 -749.8 -539.4 -560.1 -588.6 9

 10 State and local -271.9 -237.3 -215.9 -232.6 -225.1 -218.0 -221.1 -229.9 -231.6 -240.9 -227.5 10

 11 Consumption of fixed capital 2368.4 2381.6 2450.6 2530.2 2627.2 2585.4 2612.7 2640.2 2670.5 2698.7 2721.6 11

 12 Private 1925.7 1923.5 1971.1 2034.2 2120.8 2083.9 2108.2 2132.5 2158.7 2183.5 2203.1 12

 13 Domestic business 1522.4 1523.0 1572.8 1629.7 1693.7 1667.3 1685.3 1701.9 1720.3 1735.9 1753.2 13

 14 Nonfinancial corporate business 1092.0 1094.6 1139.2 1183.8 1229.8 1211.0 1223.7 1235.6 1248.9 1263.1 1276.0 14

 15 Nonfinancial noncorporate business 253.0 251.8 265.0 271.7 281.7 276.9 280.1 283.1 286.6 290.4 292.4 15

 16 Financial business 177.4 176.7 168.6 174.1 182.2 179.4 181.5 183.2 184.8 182.4 184.9 16

 17 Households and institutions 403.3 400.5 398.2 404.5 427.1 416.6 422.9 430.5 438.4 447.7 449.8 17

 18 Government 442.7 458.1 479.6 496.0 506.4 501.5 504.5 507.8 511.8 515.2 518.5 18

 19 Federal 234.5 245.3 257.4 264.1 268.0 265.9 267.2 268.5 270.4 272.1 273.8 19

 20 State and local 208.2 212.7 222.2 231.8 238.4 235.6 237.3 239.3 241.4 243.1 244.7 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 2147.9 2304.7 2397.3 2616.4 2822.1 2679.7 2732.8 2887.2 2989.0 2823.4 2989.0 21

 22 Gross domestic investment 2525.1 2752.6 2877.8 3098.6 3244.3 3135.7 3192.0 3307.6 3341.9 3289.0 3422.6 22

 23 Gross private domestic investment 1878.1 2100.8 2239.9 2479.2 2648.0 2543.3 2594.6 2708.9 2745.2 2714.4 2834.2 23

 24 Domestic business 1410.0 1648.4 1788.0 1976.3 2078.6 2000.1 2028.9 2124.3 2161.1 2146.8 2253.3 24

 25 Nonfinancial corporate business 1011.1 1239.0 1338.9 1482.3 1539.2 1477.0 1501.0 1576.4 1602.5 1603.7 1687.6 25

 26 Nonfinancial noncorporate business 232.0 246.7 281.7 303.7 337.9 323.4 329.6 346.6 352.1 336.8 353.3 26

 27 Financial business 166.9 162.8 167.5 190.2 201.5 199.7 198.4 201.3 206.4 206.3 212.4 27

 28 Households and institutions 468.1 452.4 451.9 502.9 569.4 543.3 565.6 584.6 584.1 567.6 580.9 28

 29 Gross government investment 647.0 651.8 637.9 619.4 596.3 592.4 597.4 598.7 596.7 574.6 588.4 29

 30 Federal 284.0 300.0 297.4 287.8 268.5 271.7 268.9 268.2 265.1 251.0 254.9 30

 31 State and local 363.0 351.9 340.5 331.6 327.8 320.7 328.5 330.5 331.6 323.6 333.5 31

 32 Capital account transactions (net) (2) 0.6 0.7 1.6 -6.5 0.8 0.6 1.3 1.0 0.4 0.5 0.0 32

 33 Private -121.4 -58.5 -46.7 -23.8 7.5 0.9 6.9 11.1 11.1 6.6 7.3 33

 34 Domestic business -83.4 -29.4 -40.9 -11.1 -4.3 -8.9 -4.0 -1.9 -2.6 -7.1 -6.0 34

 35 Nonfinancial corporate business 44.6 19.8 -6.9 -15.8 -4.3 -8.9 -3.9 -1.9 -2.6 -7.1 -6.0 35

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

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

 38 Households and institutions -38.1 -29.1 -5.8 -12.7 11.8 9.8 10.8 13.0 13.6 13.6 13.3 38

 39 Government 122.0 59.2 48.4 17.3 -6.6 -0.3 -5.6 -10.1 -10.6 -6.1 -7.3 39

 40 Federal 177.4 125.3 113.0 82.8 56.0 62.8 54.5 56.1 50.5 55.6 56.6 40

 41 State and local -55.4 -66.2 -64.6 -65.5 -62.6 -63.1 -60.1 -66.2 -61.1 -61.7 -63.9 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -377.8 -448.6 -482.1 -475.7 -423.0 -456.6 -460.5 -421.5 -353.3 -466.0 -433.6 42

 43 Private 1469.2 1370.4 1184.6 976.7 534.5 598.1 409.1 639.1 491.9 388.3 445.2 43

 44 Domestic business 824.0 765.2 521.3 166.2 80.6 154.8 -84.2 153.4 98.3 -104.2 -103.0 44

 45 Nonfinancial corporate business (3) 492.6 488.5 353.1 71.7 54.3 31.6 16.4 67.3 102.0 -19.0 -78.5 45

 46 Nonfinancial noncorporate business 27.0 12.8 -15.1 -27.1 -56.2 -46.5 -49.5 -63.5 -65.5 -46.3 -60.9 46

 47 Financial business 304.4 263.8 183.3 121.5 82.5 169.7 -51.1 149.6 61.8 -38.9 36.5 47

 48 Households and institutions 645.2 605.2 663.3 810.5 454.0 443.3 493.3 485.7 393.5 492.5 548.2 48

 49 Government -1847.1 -1819.0 -1666.7 -1452.4 -957.5 -1054.7 -869.7 -1060.6 -845.2 -854.3 -878.7 49

 50 Federal -1475.7 -1508.7 -1397.1 -1185.6 -705.6 -814.7 -617.4 -805.7 -584.6 -594.6 -626.3 50

 51 State and local -371.4 -310.3 -269.6 -266.9 -252.0 -240.0 -252.3 -254.9 -260.7 -259.7 -252.4 51

 52 Statistical discrepancy (line 21 less line 1) 75.3 49.2 -38.3 -209.2 -211.9 -250.3 -290.2 -187.6 -119.5 -177.5 -202.5 52

 Addenda:

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

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

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

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

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

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

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Capital transfers paid, by sector 272.2 186.7 137.9 139.8 105.4 108.5 102.9 109.4 101.0 105.5 106.2 1

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

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

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

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

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

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

 8 By government 206.9 141.4 123.5 98.8 79.3 84.0 77.5 81.9 73.8 78.6 79.7 8

 9 Federal 206.9 141.4 123.5 98.8 79.3 84.0 77.5 81.9 73.8 78.6 79.7 9

 10 Investment grants to state and local govts. 63.4 72.1 69.1 66.6 66.3 66.9 63.8 69.9 64.7 65.1 67.0 10

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

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

 13 Other capital transfers paid to business 8.1 12.7 8.0 8.2 5.7 9.7 5.7 4.5 2.9 7.4 6.6 13

 14 Other capital transfers paid to persons 12.9 14.5 12.4 10.5 6.5 6.9 6.6 6.5 5.8 5.8 5.8 14

 15 Capital transfers paid to the rest of the world (net) 0.6 0.7 1.6 1.1 0.8 0.6 1.3 1.0 0.4 0.4 0.4 15

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

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

 18 By persons 24.9 19.5 14.4 19.0 26.2 24.5 25.4 27.4 27.2 26.9 26.4 18

 19 Estate and gift taxes, federal 20.6 15.1 9.6 14.1 20.9 19.3 20.1 22.1 21.9 21.7 21.2 19

 20 Estate and gift taxes, state and local 4.3 4.4 4.7 4.9 5.3 5.2 5.3 5.3 5.3 5.2 5.2 20

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

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

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

 24 Capital transfers received, by sector 272.2 186.7 137.9 139.8 105.4 108.5 102.9 109.4 101.0 105.5 106.2 24

 25 By private business 130.0 54.2 40.4 26.3 5.7 9.7 5.7 4.5 2.9 7.4 6.6 25

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

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

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

 29 Nonfinancial corporations 2.1 4.9 6.4 16.7 5.7 9.6 5.7 4.5 2.8 7.4 6.6 29

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

 31 Other 2.1 4.9 6.4 8.1 5.7 9.6 5.7 4.5 2.8 7.4 6.6 31

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

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

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

 35 By government 88.3 91.8 83.5 88.3 92.5 91.4 89.2 97.3 91.9 92.0 93.4 35

 36 Federal 20.6 15.1 9.6 14.1 20.9 19.3 20.1 22.1 21.9 21.7 21.2 36

 37 Estate and gift taxes paid by persons 20.6 15.1 9.6 14.1 20.9 19.3 20.1 22.1 21.9 21.7 21.2 37

 38 State and local 67.7 76.7 73.8 74.2 71.6 72.1 69.1 75.2 70.0 70.3 72.2 38

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

 40 Estate and gift taxes paid by persons 4.3 4.4 4.7 4.9 5.3 5.2 5.3 5.3 5.3 5.2 5.2 40

 41 Investment grants paid by federal government 63.4 72.1 69.1 66.6 66.3 66.9 63.8 69.9 64.7 65.1 67.0 41

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

 43 By persons 53.3 40.1 12.4 24.0 6.5 6.9 6.6 6.5 5.8 5.8 5.8 43

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

 45 Other 53.3 40.1 12.4 10.5 6.5 6.9 6.6 6.5 5.8 5.8 5.8 45

 46 By the rest of the world 0.6 0.7 1.6 1.1 0.8 0.6 1.3 1.0 0.4 0.4 0.4 46

 47 Capital transfers paid by U.S. government 0.6 0.7 1.6 1.1 0.8 0.6 1.3 1.0 0.4 0.4 0.4 47

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

 Addenda: Net capital transfers paid by sector

 49 By private business (lines 2-25) -89.6 -28.3 -40.4 -12.0 -5.7 -9.7 -5.7 -4.5 -2.9 -7.4 -6.6 49

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

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

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

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

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

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

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

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

 58 Nonfinancial corporations (lines 6-29) 38.3 20.9 -6.4 -16.7 -5.7 -9.6 -5.7 -4.5 -2.8 -7.4 -6.6 58

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

 60 By government (lines 8-35) 118.6 49.6 40.0 10.5 -13.2 -7.4 -11.8 -15.4 -18.1 -13.4 -13.7 60

 61 Federal (lines 9-36) 186.3 126.3 113.9 84.7 58.4 64.7 57.3 59.8 51.8 56.9 58.5 61

 62 State and local (lines 16-38) -67.7 -76.7 -73.8 -74.2 -71.6 -72.1 -69.1 -75.2 -70.0 -70.3 -72.2 62

 63 By persons (lines 18-43) -28.4 -20.6 2.0 -5.0 19.7 17.7 18.8 20.9 21.4 21.2 20.7 63

 64 By the rest of the world (lines 21-46) -0.6 -0.7 -1.6 6.5 -0.8 -0.6 -1.3 -1.0 -0.4 -0.4 -0.4 64

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets 666.7 781.8 1132.2 1266.9 1069.6 1137.2 998.5 559.5 1583.4 1204.5 1934.5 1

 2 Foreign deposits -7.2 4.5 -9.9 -7.7 2.8 13.0 13.2 1.9 -16.9 -3.9 -6.9 2

 3 Checkable deposits and currency 115.8 36.2 326.1 175.5 132.2 221.1 59.8 -52.4 300.3 327.6 444.4 3

 4 Time and savings deposits 101.1 165.8 375.3 418.5 214.0 114.5 196.5 296.3 248.6 633.4 182.7 4

 5 Money market fund shares -269.0 -179.9 -14.4 10.0 23.0 33.2 102.9 71.2 -115.4 135.7 -28.5 5

 6 Securities 435.8 -3.7 -193.9 129.4 56.6 361.5 -108.6 -347.3 321.1 -728.1 597.8 6

 7 Open market paper 16.7 -1.5 -1.8 -0.6 -3.8 -3.2 -0.8 -0.8 -10.4 -2.9 -11.0 7

 8 Treasury securities 533.1 320.4 -229.3 211.7 -188.1 -254.4 -102.6 -104.2 -291.1 -322.4 -287.2 8

 9 Agency- and GSE-backed securities -670.9 -10.0 -11.3 -136.7 -94.7 -290.6 -46.7 -82.0 40.5 -435.1 -41.9 9

 10 Municipal securities 107.3 44.2 -65.5 -144.8 -43.2 -6.4 -28.6 -66.9 -71.0 -78.2 -39.3 10

 11 Corporate and foreign bonds 98.1 -419.5 88.8 -166.2 -197.8 -359.7 -489.7 -115.1 173.3 -150.6 116.7 11

 12 Corporate equities (2) -19.0 -221.0 -308.7 -241.3 -59.3 298.8 47.7 -648.9 65.3 -405.1 228.8 12

 13 Mutual fund shares 376.2 281.8 333.4 606.7 642.5 976.6 510.8 669.4 413.1 665.2 629.5 13

 14 Life insurance reserves 24.6 6.2 73.5 -26.6 19.2 2.0 22.9 35.9 16.0 54.2 5.9 14

 15 Pension entitlements 397.6 595.8 499.2 497.9 494.9 447.9 441.4 499.2 591.3 514.8 570.3 15

 16 Miscellaneous and other assets -126.4 167.4 80.3 78.7 133.4 -48.6 278.1 62.2 241.9 276.2 173.9 16

 17 Gross investment in nonfinancial assets 1657.2 1694.0 1783.0 1918.0 2078.4 2022.4 2062.6 2108.0 2120.5 2098.0 2163.7 17

 18 Residential fixed investment 386.9 376.5 381.3 436.9 513.3 482.8 510.3 531.0 529.0 514.5 526.4 18

 19 Nonresidential fixed investment 326.0 317.4 345.4 366.6 376.7 367.5 371.7 378.2 389.3 392.7 401.2 19

 20 Consumer durables 970.8 1005.0 1057.2 1119.1 1178.9 1168.1 1175.2 1181.9 1190.5 1191.2 1226.0 20

 21 Nonproduced nonfinancial assets -9.7 -8.5 -7.8 -7.7 -7.9 -7.9 -8.0 -7.9 -7.8 -7.6 -7.4 21

 22 Inventories -16.8 3.6 6.8 3.0 17.4 11.9 13.2 24.8 19.5 7.2 17.5 22

 23 Consumption of fixed capital 1590.1 1584.9 1605.6 1641.2 1697.8 1670.6 1689.3 1707.2 1724.0 1707.5 1716.7 23

 24 Residential fixed investment 377.9 372.0 369.9 372.3 393.9 387.0 391.5 396.0 400.9 405.5 409.1 24

 25 Nonresidential fixed investment 291.7 294.7 297.4 308.1 319.3 310.8 315.7 322.0 328.6 337.4 338.0 25

 26 Consumer durables 920.6 918.1 938.2 960.7 984.6 972.8 982.1 989.1 994.5 964.6 969.5 26

 27 Net investment in nonfinancial assets (3) 67.0 109.2 177.4 276.9 380.6 351.8 373.2 400.9 396.5 390.5 447.0 27

 28 Residential fixed investment 9.0 4.5 11.5 64.6 119.4 95.8 118.8 135.0 128.1 109.0 117.2 28

 29 Nonresidential fixed investment 34.3 22.7 48.0 58.5 57.4 56.7 56.0 56.2 60.7 55.3 63.2 29

 30 Consumer durables 50.3 86.9 119.0 158.4 194.3 195.3 193.2 192.7 195.9 226.6 256.4 30

 31 Nonproduced nonfinancial assets -9.7 -8.5 -7.8 -7.7 -7.9 -7.9 -8.0 -7.9 -7.8 -7.6 -7.4 31

 32 Inventories -16.8 3.6 6.8 3.0 17.4 11.9 13.2 24.8 19.5 7.2 17.5 32

 33 Net increase in liabilities 22.1 -144.8 21.3 384.6 373.9 139.1 357.8 623.1 375.4 351.3 994.0 33

 34 Home mortgages 36.2 -153.6 -83.1 -70.8 3.7 -82.1 14.4 117.1 -34.8 -57.6 45.7 34

 35 Other mortgages 44.0 -31.4 -5.6 2.4 66.6 -24.6 89.4 96.7 104.9 57.8 106.6 35

 36 Consumer credit -103.6 -25.3 108.5 169.7 174.3 179.0 162.9 190.6 164.8 200.7 254.3 36

 37 Policy loans 0.7 3.4 2.4 1.4 0.9 -0.0 2.7 1.6 -0.6 -0.2 1.2 37

 38 Security credit 38.1 75.2 -39.3 64.9 35.4 16.4 -21.2 44.6 101.9 -74.3 222.4 38

 39 Other liabilities 6.7 -12.9 38.4 217.1 92.9 50.4 109.7 172.6 39.2 224.9 363.8 39

 40 Net capital transfers paid (4) -34.4 -28.4 0.4 -10.0 19.7 17.6 18.8 20.9 21.4 21.2 20.7 40

 41 Personal saving, FOF concept (FOF) 677.2 1007.4 1288.8 1149.1 1096.1 1367.5 1032.7 358.1 1625.9 1264.9 1408.2 41

 42 - Net investment in consumer durables 50.3 86.9 119.0 158.4 194.3 195.3 193.2 192.7 195.9 226.6 256.4 42

 43 - Government insurance and pension fund reserves (5) 0.5 -1.7 -0.4 -1.4 -1.2 -1.7 -0.5 -2.7 0.0 -1.8 0.0 43

 44 = Personal saving, NIPA concept (FOF) (6) 626.5 922.3 1170.2 992.2 903.0 1174.0 840.0 168.1 1429.9 1040.1 1151.7 44

 45 Personal saving, NIPA concept (NIPA) 672.0 628.0 711.1 896.2 608.1 579.8 646.9 652.8 552.9 626.1 692.5 45

 46 Difference -45.5 294.2 459.1 96.0 294.9 594.2 193.2 -484.7 877.0 414.0 459.2 46

 Memo:

 47 Disposable personal income 10942.5 11237.9 11801.4 12384.0 12505.1 12340.4 12470.7 12585.8 12623.7 12772.9 12979.5 47

 Personal saving as a percentage of disposable personal income:

 48 FOF concept (FOF data) (line 41) 6.2 9.0 10.9 9.3 8.8 11.1 8.3 2.8 12.9 9.9 10.8 48

 49 NIPA concept (FOF data) (line 44) 5.7 8.2 9.9 8.0 7.2 9.5 6.7 1.3 11.3 8.1 8.9 49

 50 NIPA concept (NIPA data) (line 45) 6.1 5.6 6.0 7.2 4.9 4.7 5.2 5.2 4.4 4.9 5.3 50

 51 Difference (line 46) -0.4 2.6 3.9 0.8 2.4 4.8 1.5 -3.9 6.9 3.2 3.5 51

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

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

(3) Line 17 less line 23.

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

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

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

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

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

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

2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 45943.3 49751.7 50263.4 53871.7 59814.4 55677.6 56250.8 57826.3 59814.4 60542.7 61796.1 1

 2 Foreign deposits 62.7 67.3 57.4 49.7 52.5 52.9 56.2 56.7 52.5 51.5 49.8 2

 3 Checkable deposits and currency 930.5 955.4 1281.5 1443.3 1575.5 1467.1 1449.4 1436.9 1575.5 1625.8 1699.5 3

 4 Time and savings deposits 6679.3 6807.1 7182.3 7555.8 7770.5 7613.2 7623.3 7709.0 7770.5 7955.9 7967.5 4

 5 Money market fund shares 1386.9 1206.9 1192.5 1202.6 1225.6 1148.5 1141.7 1189.1 1225.6 1195.0 1153.7 5

 6 Securities 16011.9 18082.3 17367.1 19380.0 23343.9 20686.1 21041.7 22107.8 23343.9 23585.7 24427.2 6

 7 Open market paper 22.7 21.1 19.4 18.8 15.0 18.0 17.8 17.6 15.0 14.3 11.5 7

 8 Treasury securities 854.0 1126.6 707.0 929.3 949.0 955.5 1004.2 977.7 949.0 899.6 837.4 8

 9 Agency- and GSE-backed securities 357.4 335.4 300.2 152.7 97.7 95.9 106.3 94.8 97.7 1.2 3.7 9

 10 Municipal securities 1833.0 1877.1 1811.6 1666.8 1623.6 1674.8 1670.6 1646.0 1623.6 1614.6 1608.4 10

 11 Corporate and foreign bonds 1539.2 1353.1 1343.0 1233.9 1004.6 1106.0 974.7 966.6 1004.6 947.6 920.2 11

 12 Corporate equities (2) 7255.5 8679.9 8475.6 9623.9 12451.3 10590.4 10868.7 11595.5 12451.3 12622.1 13306.7 12

 13 Mutual fund shares 4104.0 4641.1 4661.8 5705.4 7152.4 6196.2 6349.8 6759.6 7152.4 7435.8 7688.3 13

 14 Life insurance reserves 1109.2 1137.2 1199.0 1186.1 1232.8 1194.8 1201.6 1218.3 1232.8 1248.1 1254.6 14

 15 Pension entitlements 15455.1 17031.7 17444.7 18457.8 19886.1 18930.7 19085.2 19440.8 19886.1 20085.5 20406.1 15

 16 Life insurance companies 2148.2 2343.2 2384.6 2576.6 2816.9 2673.1 2683.5 2743.0 2816.9 2845.8 2894.3 16

 17 Private pension funds 6002.2 6650.1 6753.3 7278.0 8141.8 7575.3 7675.0 7884.8 8141.8 8228.5 8399.5 17

 18 Governments 7304.7 8038.4 8306.8 8603.2 8927.4 8682.2 8726.7 8813.0 8927.4 9011.2 9112.2 18

 19 Miscellaneous and other assets 4218.9 4385.5 4464.5 4530.7 4668.3 4520.6 4589.8 4607.9 4668.3 4737.4 4781.2 19

 20 Total liabilities 19793.1 19457.0 19329.1 19503.2 19784.3 19455.6 19518.9 19679.3 19784.3 19798.4 20033.0 20

 21 Home mortgages 10917.5 10431.8 10193.3 9973.9 9884.6 9923.0 9899.4 9911.8 9884.6 9849.9 9844.5 21

 22 Other mortgages 2574.3 2542.8 2537.2 2539.7 2606.3 2533.5 2555.9 2580.0 2606.3 2620.7 2647.4 22

 23 Consumer credit 2552.8 2647.4 2755.9 2923.6 3097.9 2923.8 2966.4 3036.6 3097.9 3103.5 3169.0 23

 24 Policy loans 121.1 124.5 126.9 128.3 129.2 128.3 128.9 129.3 129.2 129.1 129.4 24

 25 Security credit 203.0 278.2 238.9 303.7 339.2 307.9 302.6 313.7 339.2 320.6 376.2 25

 26 Other liabilities 3424.4 3432.3 3476.8 3634.1 3727.2 3639.2 3665.7 3707.9 3727.2 3774.5 3866.5 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).