Summary

1

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

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic Instrument

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

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

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

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

2

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

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

Households State Domestic Domestic Instrument

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

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

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

 1 Total financial assets 66497.9 -- 20228.0 -- 2894.9 -- 1701.2 -- 91322.0 -- 81269.4 -- 22570.5 -- 195161.9 -- -7740.5 2 Total liabilities and equity -- 13768.2 -- 51485.2 -- 5055.5 -- 16123.5 -- 86432.4 -- 83397.6 -- 17591.4 -- 187421.4 --  3 Total liabilities -- 13768.2 -- 21791.2 -- 5055.5 -- 16123.5 -- 56738.4 -- 76891.4 -- 11080.0 -- 144709.7 --  4 U.S. official reserve assets -- -- -- -- -- -- 96.4 54.4 96.4 54.4 34.6 -- 54.4 119.9 185.4 174.3 -11.0 5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- -- -- 5.2 5.2 --  6 Treasury currency -- -- -- -- -- -- -- 25.6 -- 25.6 45.5 -- -- -- 45.5 25.6 -19.9 7 Foreign deposits 48.4 -- 80.6 -- -- -- -- -- 129.0 -- 33.7 -- -- 805.9 162.7 805.9 643.2 8 Interbank claims -- -- -- -- -- -- -- -- -- -- 2321.8 2790.8 392.2 -- 2714.0 2790.8 76.9 9 Checkable dep. and currency 1004.7 -- 927.4 -- 124.3 -- 162.9 -- 2219.3 -- 372.0 3186.5 590.0 -- 3181.4 3186.5 5.110 Time and savings deposits 7388.7 -- 1031.6 -- 302.5 -- 1.5 -- 8724.4 -- 713.0 9872.9 435.5 -- 9872.9 9872.9 -- 11 Money market fund shares 1130.4 -- 601.9 -- 162.9 -- -- -- 1895.2 -- 619.1 2678.3 164.0 -- 2678.3 2678.3 -- 12 Fed. funds and security RPs -- -- 8.8 -- 129.6 -- -- -- 138.4 -- 2740.2 2931.3 822.0 738.9 3700.6 3670.3 -30.313 Credit market instruments 5446.0 13146.1 260.6 13604.4 1529.7 2941.1 1043.1 12352.8 8279.5 42044.5 40828.5 13947.1 9806.8 2923.2 58914.8 58914.8 -- 14 Open market paper 15.0 -- 30.3 144.5 75.2 -- -- -- 120.5 144.5 633.9 400.2 197.2 407.0 951.6 951.6 -- 15 Treasury securities 935.4 -- 90.8 -- 583.0 -- -- 12328.3 1609.3 12328.3 4915.3 -- 5803.8 -- 12328.3 12328.3 -- 16 Agency- and GSE-backed sec. 125.9 -- 8.4 -- 480.1 -- 0.0 24.5 614.5 24.5 6297.5 7769.7 882.2 -- 7794.1 7794.1 -- 17 Municipal securities 1626.3 227.8 17.5 518.5 13.6 2924.9 -- -- 1657.4 3671.2 1944.2 -- 69.6 -- 3671.2 3671.2 -- 18 Corporate and fgn. bonds 2578.0 -- -- 6435.5 168.7 -- 0.6 -- 2747.2 6435.5 7890.4 4717.0 2718.9 2204.1 13356.5 13356.5 -- 19 Depository inst. loans n.e.c. -- 92.7 -- 1776.1 -- -- -- -- -- 1868.8 2508.8 363.2 -- 276.7 2508.8 2508.8 -- 20 Other loans and advances 25.9 141.3 -- 1232.9 -- 16.2 197.2 -- 223.1 1390.4 1562.5 494.9 135.2 35.5 1920.8 1920.8 -- 21 Mortgages 80.4 9586.9 70.0 3496.9 209.1 -- 115.5 0.0 475.0 13083.9 12811.0 202.2 -- -- 13286.0 13286.0 -- 22 Consumer credit 59.1 3097.4 43.5 -- -- -- 729.8 -- 832.5 3097.4 2264.9 -- -- -- 3097.4 3097.4 -- 23 Corporate equities 13309.6 -- -- 20952.4 165.0 -- 35.1 -- 13509.7 20952.4 15770.8 6487.0 4670.4 6511.5 33950.9 33950.9 -- 24 Mutual fund shares 6890.1 -- 211.4 -- 79.8 -- -- -- 7181.4 -- 3327.2 11544.6 1036.0 -- 11544.6 11544.6 -- 25 Trade credit -- 255.0 3020.9 2415.1 169.1 786.1 48.8 253.8 3238.8 3710.0 131.0 14.5 155.4 60.7 3525.2 3785.3 260.126 Security credit 815.5 339.2 -- -- -- -- -- -- 815.5 339.2 420.8 897.1 -- -- 1236.2 1236.2 -- 27 Life insurance reserves 1242.2 -- -- -- -- -- -- 50.3 1242.2 50.3 174.3 1366.3 -- -- 1416.5 1416.5 -- 28 Pension entitlements 19563.8 -- -- -- -- -- -- -- 19563.8 -- -- 19563.8 -- -- 19563.8 19563.8 -- 29 Taxes payable -- -- -- 150.0 123.8 -- 165.8 -- 289.6 150.0 -- -59.1 -- -- 289.6 90.8 -198.830 Equity in noncorp. business 8760.8 -- -- 8741.6 -- -- -- -- 8760.8 8741.6 -- 19.2 -- -- 8760.8 8760.8 -- 31 Miscellaneous 897.6 27.9 14084.7 5621.7 108.1 1328.2 147.7 3381.5 15238.0 10359.3 13731.8 8157.3 4443.8 6431.3 33413.5 24947.9 -8465.7General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 23) and equity in noncorporate business (line 30). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
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Z.1, June 5, 2014 3

D.1 Credit Market Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1979 12.0 14.8 16.4 13.9 13.5 11.3 9.0 5.8 23.0 9.6

1980 9.4 8.2 10.9 1.0 10.1 8.5 6.9 11.8 14.9 14.3

1981 10.3 7.3 7.2 5.5 12.9 13.6 8.0 11.6 18.4 12.2

1982 10.4 5.6 4.8 5.0 9.9 10.3 11.2 19.7 13.6 7.5

1983 12.0 11.0 10.2 12.1 9.2 8.4 11.4 18.9 13.3 8.3

1984 14.9 13.0 11.4 18.4 16.1 16.6 11.4 16.9 17.5 3.7

1985 15.6 16.1 14.6 15.9 11.0 12.6 31.8 16.5 19.3 0.5

1986 11.9 11.4 13.7 9.1 11.5 13.9 10.9 13.6 26.2 2.9

1987 9.1 10.4 13.4 4.8 7.8 8.9 12.0 8.0 18.3 3.2

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

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

1990 6.5 7.1 8.8 1.9 3.6 5.3 5.0 11.0 8.6 3.0

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

1992 4.6 5.4 6.5 1.1 -0.3 0.6 1.5 10.9 8.5 3.9

1993 5.6 6.1 5.5 7.4 3.1 5.3 5.3 8.3 9.7 15.6

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

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

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

1997 5.5 5.9 6.1 5.5 9.2 9.5 4.9 0.6 12.0 11.1

1998 6.5 7.5 8.0 7.2 11.5 10.8 6.2 -1.4 19.4 4.6

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

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

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

2002 7.4 10.7 13.3 5.6 3.0 1.3 11.1 7.6 9.6 9.0

2003 8.1 11.9 14.5 5.3 2.2 1.7 8.3 10.9 10.7 4.1

2004 9.3 11.1 13.5 5.6 6.8 4.8 11.4 9.0 8.6 11.9

2005 9.2 11.2 13.4 4.5 9.0 6.9 5.8 7.0 9.4 7.9

2006 8.8 10.2 11.2 5.2 10.9 9.2 3.9 3.9 10.3 21.8

2007 8.7 7.0 7.4 6.1 13.7 13.5 5.5 4.9 12.9 9.2

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 Q2 3.7 1.6 0.1 5.5 7.6 9.1 1.1 2.5 0.4 1.6

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

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

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

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

D.2 Credit Market Borrowing by Sector

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1979 386.5 163.9 116.5 43.3 160.2 86.4 26.6 35.8 94.9 15.0

1980 339.1 104.2 90.2 3.4 135.3 72.1 22.2 77.4 75.8 24.2

1981 405.0 101.8 67.0 19.8 190.0 125.3 27.6 85.5 107.8 23.5

1982 451.6 84.1 47.4 18.8 164.4 106.6 41.7 161.3 93.6 16.0

1983 570.6 172.4 105.2 48.2 165.7 94.4 47.3 185.2 104.3 17.3

1984 794.4 223.9 127.6 81.7 320.8 207.1 52.5 197.2 156.2 8.4

1985 955.4 311.4 181.7 84.0 254.7 184.3 163.6 225.7 203.2 1.2

1986 844.7 259.5 199.3 55.8 295.0 227.8 74.2 216.0 330.1 10.2

1987 721.6 263.6 221.6 32.3 223.7 165.6 90.4 143.9 291.8 11.4

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

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

1990 658.8 233.5 200.0 15.1 131.3 131.0 47.1 246.9 207.8 11.1

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

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

1993 667.3 239.6 156.3 61.4 113.7 134.3 57.9 256.1 292.9 67.5

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

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

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

1997 795.7 306.9 215.9 70.3 415.0 313.1 50.8 23.1 570.3 77.7

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

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

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

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

2002 1429.4 812.2 706.1 105.2 215.0 63.2 144.6 257.6 881.6 81.4

2003 1683.4 1004.6 872.0 105.9 162.2 88.4 120.5 396.0 1071.5 45.0

2004 2096.4 1051.8 934.6 117.2 504.0 249.3 178.8 361.9 938.8 152.4

2005 2339.0 1177.0 1053.3 100.4 713.5 371.9 141.7 306.9 1113.7 115.8

2006 2433.1 1201.1 997.4 120.5 947.7 532.4 100.9 183.4 1336.3 335.7

2007 2614.2 911.7 731.9 151.3 1318.8 855.7 146.7 237.1 1832.8 175.6

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 Q2 1523.2 206.5 7.2 162.9 984.1 798.9 32.8 299.9 61.4 45.9

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

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

2014 -- Q1 2113.4 267.1 -83.8 203.3 993.1 873.2 -20.3 873.6 -319.4 209.9
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D.3 Credit Market Debt Outstanding by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1979 3596.5 1272.8 826.7 354.6 1343.8 851.8 322.2 657.7 508.9 168.5

1980 3943.2 1389.1 926.5 358.0 1474.7 919.6 344.4 735.0 584.7 193.4

1981 4349.2 1498.2 998.3 377.9 1658.5 1038.7 372.1 820.5 689.2 214.0

1982 4770.6 1567.5 1031.2 396.7 1807.6 1129.9 413.8 981.8 785.5 208.1

1983 5344.2 1719.8 1116.4 444.9 1996.2 1247.2 461.1 1167.0 890.1 224.1

1984 6138.2 1939.8 1243.3 526.6 2320.6 1458.0 513.6 1364.2 1054.9 232.8

1985 7111.8 2272.0 1450.2 610.6 2572.0 1638.9 677.9 1589.9 1259.0 350.1

1986 7953.5 2529.5 1649.0 666.4 2866.0 1865.8 752.1 1805.9 1596.6 360.0

1987 8656.8 2747.1 1828.6 698.6 3117.4 2059.2 842.6 1949.8 1899.7 372.3

1988 9439.6 3036.3 2054.8 745.2 3405.5 2263.5 893.0 2104.9 2149.5 371.3

1989 10141.0 3305.1 2260.1 809.3 3644.3 2454.1 940.4 2251.2 2402.8 371.3

1990 10827.2 3567.8 2489.3 824.4 3773.8 2583.3 987.4 2498.1 2613.8 388.9

1991 11296.4 3755.0 2667.4 815.6 3686.4 2524.4 1078.6 2776.4 2766.8 419.2

1992 11813.9 3959.4 2840.4 824.8 3679.1 2543.6 1095.1 3080.3 3018.9 433.6

1993 12496.1 4201.3 2999.0 886.2 3805.2 2690.4 1153.0 3336.5 3317.2 527.1

1994 13141.4 4525.0 3165.5 1021.2 4016.5 2887.2 1107.5 3492.3 3789.7 490.0

1995 13811.3 4844.5 3319.2 1168.2 4283.3 3108.6 1046.7 3636.7 4226.3 612.6

1996 14517.4 5182.3 3537.3 1273.9 4527.2 3282.1 1026.2 3781.7 4749.5 703.3

1997 15311.1 5489.2 3753.2 1344.2 4940.1 3593.1 1076.9 3804.8 5299.7 777.4

1998 16306.2 5901.4 4054.7 1441.3 5508.8 3982.8 1143.8 3752.2 6326.2 835.8

1999 17351.3 6375.3 4431.6 1553.6 6114.0 4394.2 1181.0 3681.0 7376.5 794.8

2000 18225.4 6959.5 4813.9 1741.3 6682.9 4770.7 1197.9 3385.1 8168.4 858.5

2001 19372.1 7625.7 5322.0 1891.8 7063.6 4987.9 1303.4 3379.5 9156.8 901.5

2002 20801.5 8437.9 6028.2 1997.0 7278.7 5051.1 1447.9 3637.0 10038.4 1096.9

2003 22529.0 9472.5 6909.9 2102.9 7455.0 5153.5 1568.4 4033.1 10945.2 1279.4

2004 25357.4 10544.3 7859.4 2220.1 7969.9 5413.8 2448.2 4395.0 11898.8 1462.0

2005 27696.4 11721.3 8912.7 2320.6 8683.4 5785.7 2589.8 4701.9 12958.0 1539.9

2006 30174.3 12946.4 9910.0 2461.9 9651.8 6338.9 2690.8 4885.3 14261.3 1911.8

2007 32765.4 13830.1 10611.4 2615.7 10975.6 7201.1 2837.5 5122.3 16204.9 2160.8

2008 34727.0 13849.6 10579.0 2650.6 11660.5 7567.2 2855.4 6361.5 17103.3 1753.2

2009 35637.1 13546.3 10417.6 2552.8 11317.0 7332.5 2968.4 7805.4 15714.4 2131.1

2010 37043.2 13214.8 9912.7 2647.4 11404.8 7455.0 3038.0 9385.6 14454.9 2314.0

2011 38434.7 13052.9 9697.5 2755.9 11943.0 7958.0 2985.3 10453.6 14035.8 2513.8

2012 40352.0 13044.2 9481.7 2923.6 12734.0 8662.4 2980.0 11593.7 13804.0 2784.1

2013 42044.5 13146.1 9386.2 3097.4 13604.4 9407.1 2941.1 12352.8 13947.1 2923.2

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

 Q2 33599.9 13967.9 10695.8 2673.5 11438.1 7490.8 2857.9 5335.9 16717.3 2183.6

 Q3 34219.8 13950.4 10665.8 2669.1 11590.2 7571.0 2863.2 5816.0 16991.8 1915.9

 Q4 34727.0 13849.6 10579.0 2650.6 11660.5 7567.2 2855.4 6361.5 17103.3 1753.2

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

 Q2 35425.8 13699.2 10538.0 2599.6 11587.5 7538.2 2910.9 7228.2 16534.2 1920.3

 Q3 35619.8 13630.9 10477.7 2579.3 11489.2 7472.1 2939.2 7560.5 16099.0 2094.3

 Q4 35637.1 13546.3 10417.6 2552.8 11317.0 7332.5 2968.4 7805.4 15714.4 2131.1

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

 Q2 36401.7 13399.1 10202.5 2521.9 11316.9 7350.6 2997.3 8688.4 14626.3 2169.2

 Q3 36776.3 13321.3 10122.8 2522.8 11411.2 7448.1 3011.0 9032.8 14443.9 2309.4

 Q4 37043.2 13214.8 9912.7 2647.4 11404.8 7455.0 3038.0 9385.6 14454.9 2314.0

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

 Q2 37561.5 13095.5 9798.2 2698.2 11673.3 7718.6 2999.6 9793.2 14235.7 2521.0

 Q3 38001.8 13063.0 9755.8 2724.7 11796.0 7831.2 2997.0 10145.9 14126.1 2508.6

 Q4 38434.7 13052.9 9697.5 2755.9 11943.0 7958.0 2985.3 10453.6 14035.8 2513.8

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

 Q2 39446.0 13099.1 9579.7 2842.5 12233.6 8218.2 3010.5 11102.8 13764.1 2543.4

 Q3 39779.7 13028.3 9540.8 2879.7 12442.8 8407.4 3008.9 11299.7 13859.4 2675.5

 Q4 40352.0 13044.2 9481.7 2923.6 12734.0 8662.4 2980.0 11593.7 13804.0 2784.1

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

 Q2 41164.0 13063.1 9408.9 3009.1 13133.6 9017.6 3006.4 11960.9 13771.4 2779.3

 Q3 41536.4 13155.1 9428.6 3056.7 13399.5 9244.7 2977.3 12004.4 13771.1 2826.2

 Q4 42044.5 13146.1 9386.2 3097.4 13604.4 9407.1 2941.1 12352.8 13947.1 2923.2

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

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

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

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

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

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

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

 Memo:

 Funds raised through corporate equities and mutual fund shares

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

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

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

 Foreign shares purchased by

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

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

 16 Mutual fund shares -9.9 497.1 370.1 338.4 624.9 635.6 951.2 507.4 673.9 409.7 543.2 16

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 Net flows through credit markets

 1 (from table F.4, line 1) 2861.6 -157.0 845.4 1329.2 1790.9 2261.6 2265.6 1630.5 1781.9 3368.3 2003.9 1

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 - Liabilities not identified as assets:

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

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

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

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

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

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

 - Floats not included in assets:

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

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

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

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

 Totals identified to sectors

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

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 Foreign credit market debt

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

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

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

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

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

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

L.3 Credit Market Debt Owed by Financial Sectors

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

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

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

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

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

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

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

 Memo:

 Selected claims not included above:

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

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

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

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

 Total credit market debt

 1 (from table L.4) 53583.5 53482.6 53812.2 54984.3 56940.1 58914.8 57406.5 57605.1 58039.4 58914.8 59398.6 1

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 + Financial assets not included in

 liabilities:

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

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

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

 - Liabilities not identified as assets:

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

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

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

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

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

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

 - Floats not included in assets:

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 Government consumption expenditures and

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

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

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

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

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

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

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

 Memo:

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

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

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

 Gross National Product (GNP) =

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

 Acquisition of nonproduced nonfinancial assets (net)

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

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

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

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

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

 Proprietors’ income with inventory

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

 Rental income of persons (with capital

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

 Corporate profits with inventory

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

 Corporate profits with inventory

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

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

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

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

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

 Less:

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

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

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

 Equals:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

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

 Plus:

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

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

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

 Less:

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

 Equals:

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 Gross domestic investment, capital account

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 Addenda:

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

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

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

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

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

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

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 18 By persons 33.9 24.9 19.5 14.5 19.0 24.6 22.6 23.3 25.1 27.5 25.4 18

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

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

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

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

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

 24 Capital transfers received, by sector 193.5 272.2 186.7 137.9 139.8 102.5 106.1 99.5 106.2 98.4 101.5 24

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 Addenda: Net capital transfers paid by sector

 49 By private business (lines 2-25) -67.5 -89.6 -28.3 -40.4 -12.0 -5.7 -9.6 -5.7 -4.5 -2.8 -7.4 49

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 Memo:

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

 Personal saving as a percentage of disposable personal income:

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

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

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

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

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

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

(3) Line 17 less line 23.

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

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

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

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

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

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

2008 2009 2010 2011 2012 2013 2013 2014

 Q1 Q2 Q3 Q4 Q1

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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