Z.1, September 20, 2012 119

B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)

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

2006 2007 2008 2009 2010 2011 2012

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Assets 78927.7 80320.1 67567.8 69391.8 72967.0 74656.7 74704.4 71998.0 73595.1 76431.6 76126.9 1

 2 Nonfinancial assets 29567.7 28237.5 24800.5 23767.6 23448.3 23317.3 23292.1 23338.3 23319.7 23763.5 24201.2 2

 3 Financial assets 49360.0 52082.6 42767.3 45624.1 49518.7 51339.5 51412.3 48659.7 50275.4 52668.1 51925.6 3

 4 Deposits 6847.9 7502.0 8107.1 7969.1 7926.7 7992.5 8169.1 8350.0 8574.4 8625.4 8658.6 4

 5 Credit market instruments 4361.2 4956.5 4858.9 5117.4 5477.5 5405.2 5135.4 5115.8 4823.7 4755.4 4788.4 5

 6 Equity shares at market value 20360.7 20947.4 12462.6 15967.1 18505.0 19954.8 19956.4 16669.5 18028.8 20115.2 19092.1 6

 7 Directly held 9645.0 9631.6 5759.5 7419.7 8736.7 9592.3 9645.2 8142.0 8720.8 9691.5 9216.3 7

 8 Indirectly held 10715.7 11315.8 6703.1 8547.4 9768.3 10362.5 10311.3 8527.5 9308.0 10423.6 9875.9 8

 9 Life insurance companies 1334.7 1466.8 956.9 1220.3 1420.5 1511.6 1512.1 1274.5 1395.7 1487.9 1433.1 9

10 Private pension funds 4155.6 4260.5 2471.9 3055.6 3502.6 3699.4 3676.7 3105.6 3379.6 3791.9 3631.1 10

11 Defined benefit plans 1729.9 1660.7 903.5 975.2 1069.7 1117.8 1103.4 913.7 1000.3 1111.6 1054.1 11

12 Defined contribution plans 2425.7 2599.8 1568.5 2080.3 2432.9 2581.6 2573.4 2191.9 2379.3 2680.3 2577.0 12

13 State and local govt. retirement funds 2129.0 2221.0 1338.3 1684.5 1939.0 2025.4 2008.0 1646.1 1827.5 2042.0 1945.4 13

14 Federal government retirement funds 135.6 145.8 83.7 116.9 141.0 149.0 149.5 121.0 134.4 153.2 146.4 14

15 Mutual funds 2960.7 3221.7 1852.2 2470.1 2765.1 2977.1 2964.9 2380.2 2570.8 2948.6 2719.9 15

16 Other 17790.2 18676.7 17338.7 16570.5 17609.6 17986.9 18151.3 18524.3 18848.6 19172.1 19386.5 16

17 Liabilities 13354.5 14263.0 14111.3 13888.3 13714.5 13641.0 13556.7 13474.9 13484.7 13441.2 13458.5 17

18 Net worth 65573.2 66057.1 53456.5 55503.4 59252.5 61015.8 61147.6 58523.0 60110.4 62990.3 62668.4 18

 Memo:

19 Equity shares excluding defined benefit plans 16482.8 17047.7 10210.3 13295.7 15483.8 16799.0 16833.1 14100.2 15190.6 16950.2 16082.0 19

 (line 6 minus lines 11, 13 and part of line 14)

 Equity shares (line 6) as a percent of

20 Total assets (line 1) 25.8 26.1 18.4 23.0 25.4 26.7 26.7 23.2 24.5 26.3 25.1 20

21 Financial assets (line 3) 41.2 40.2 29.1 35.0 37.4 38.9 38.8 34.3 35.9 38.2 36.8 21

(1) Estimates of equity shares (lines 7 through 15) could differ from other sources owing to alternative definitions of ownership of equity by households.

 Prior to 1985, all pension assets are assumed to have been in defined benefit plans.
120 Z.1, September 20, 2012

F.100.a Nonprofit Organizations (1)

Billions of dollars

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Net lending (+) or net borrowing (-) 53.5 42.1 21.7 8.8 23.3 11.1 52.5 48.5 83.6 9.2 1.5 -6.0 39.6 1

 2 Net acquisition of financial assets 70.9 75.8 53.8 46.4 53.0 45.2 76.5 84.9 120.0 47.4 55.0 28.8 108.1 2

 3 Checkable deposits and currency 0.5 -1.0 1.3 4.0 1.2 1.7 -2.5 2.3 8.3 2.9 3.1 2.3 5.1 3

 4 Time and savings deposits -0.2 5.4 -6.2 10.4 -2.4 -1.5 0.2 0.2 1.1 0.3 1.1 0.6 0.8 4

 5 Money market fund shares -13.1 4.9 -1.2 32.9 4.0 -13.8 1.1 1.2 9.4 -1.8 7.1 3.8 4.5 5

 6 Security RPs (2) 0.4 3.1 -2.2 -1.3 6.0 0.5 0.2 0.2 1.4 0.0 1.3 0.7 0.8 6

 7 Credit market instruments 54.9 21.9 22.2 -17.6 10.9 25.5 16.6 38.8 36.7 23.1 36.4 46.7 32.6 7

 8 Open market paper 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 2.0 4.1 1.3 3.0 4.7 12.4 8

 9 Treasury securities 6.4 13.8 4.8 6.1 6.8 5.1 6.4 16.4 13.9 8.9 11.6 17.5 5.4 9

10 Agency- and GSE-backed securities 4.5 2.6 4.6 3.6 3.1 2.3 2.9 7.6 6.4 4.1 5.4 8.1 2.5 10

11 Municipal securities 0.0 0.5 -0.5 0.0 0.2 0.3 0.4 0.1 0.0 -0.1 0.1 0.1 0.0 11

12 Corporate and foreign bonds 6.6 9.7 8.2 7.9 5.6 4.5 2.4 11.9 11.7 8.3 15.4 15.4 10.5 12

13 Mortgages -0.8 0.9 -0.7 -0.1 0.9 0.9 -0.1 0.9 0.6 0.6 0.9 0.8 1.7 13

14 Corporate equities 5.2 16.1 15.0 -18.6 18.6 8.9 45.1 -10.4 21.0 -30.6 -40.7 -67.4 15.4 14

15 Mutual fund shares -1.0 2.6 1.2 -3.3 0.7 -0.7 1.5 1.3 2.4 -1.0 0.4 -3.3 -1.0 15

16 Security credit 2.8 2.8 2.6 2.0 1.1 0.8 2.0 1.5 3.4 3.7 4.6 1.1 4.3 16

17 Trade receivables (2) 2.8 2.8 2.6 2.0 1.1 1.8 2.1 1.6 3.5 2.6 4.6 1.1 4.3 17

18 Equity in noncorporate business -0.1 -3.9 -6.0 15.2 10.6 7.0 0.2 10.2 8.4 9.7 12.5 12.0 16.3 18

19 Miscellaneous assets (2) 18.6 21.0 24.5 20.5 1.2 15.0 10.1 38.0 24.4 38.3 24.7 31.2 25.0 19

20 Net increase in liabilities 17.3 33.6 32.1 37.6 29.7 34.1 24.0 36.4 36.3 38.2 53.5 34.7 68.5 20

21 Credit market instruments 7.5 11.7 11.8 14.3 10.0 13.8 2.4 -0.6 11.0 10.6 23.4 13.5 19.3 21

22 Municipal securities 1.5 3.2 3.0 3.8 2.4 1.1 3.2 0.2 6.1 7.1 11.8 10.4 5.8 22

23 Depository institution loans n.e.c. 1.6 1.4 1.4 1.6 1.2 2.0 -0.2 -0.1 0.8 0.6 1.9 0.5 2.2 23

24 Other loans and advances -0.0 -0.0 0.3 0.4 -0.2 0.1 0.1 -0.1 0.0 -0.2 -0.1 0.1 -0.3 24

25 Commercial mortgages 4.4 7.2 7.2 8.6 6.6 10.7 -0.8 -0.6 4.1 3.1 9.9 2.5 11.6 25

26 Trade payables 2.4 16.2 9.3 9.4 5.9 6.0 5.2 7.9 8.0 8.9 8.7 4.1 3.8 26

27 Miscellaneous liabilities (2) 7.4 5.8 10.9 13.8 13.8 14.3 16.5 29.1 17.3 18.7 21.4 17.0 45.4 27

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.

(2) Not included in table F.100.
Z.1, September 20, 2012 121

L.100.a Nonprofit Organizations (1)

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

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Total financial assets 590.7 710.5 742.1 828.1 890.2 957.1 1025.5 1214.0 1414.1 1607.3 1793.9 1974.7 2003.8 1

 2 Checkable deposits and currency 17.0 15.9 17.3 21.3 22.5 24.1 21.6 23.9 32.1 35.0 38.1 40.4 45.5 2

 3 Time and savings deposits 1.5 6.8 0.6 11.1 8.7 7.1 7.3 7.5 8.6 8.9 10.0 10.6 11.4 3

 4 Money market fund shares 15.9 20.8 19.6 52.5 56.5 42.7 43.8 45.1 54.5 52.7 59.8 63.6 68.1 4

 5 Security RPs (2) 1.7 4.8 2.5 1.3 7.3 7.8 8.0 8.2 9.6 9.6 10.9 11.6 12.5 5

 6 Credit market instruments 229.3 251.2 273.4 255.9 266.8 292.3 308.9 347.7 384.4 407.6 443.9 490.6 523.2 6

 7 Open market paper 93.6 87.9 93.7 58.5 52.7 65.0 69.7 71.7 75.8 77.1 80.2 84.9 97.3 7

 8 Treasury securities 55.7 69.5 74.3 80.3 87.1 92.2 98.5 114.9 128.8 137.6 149.2 166.8 172.2 8

 9 Agency- and GSE-backed securities 26.3 28.9 33.5 37.1 40.3 42.6 45.5 53.1 59.5 63.6 69.0 77.1 79.6 9

10 Municipal securities 0.1 0.6 0.1 0.2 0.4 0.8 1.1 1.2 1.3 1.2 1.3 1.5 1.5 10

11 Corporate and foreign bonds 51.1 60.8 69.0 77.0 82.6 87.1 89.5 101.4 113.1 121.4 136.8 152.2 162.6 11

12 Mortgages 2.6 3.5 2.8 2.8 3.7 4.6 4.5 5.3 6.0 6.6 7.4 8.3 10.0 12

13 Corporate equities 145.8 203.0 197.5 214.6 241.1 270.2 308.2 397.1 494.7 604.9 692.0 769.3 708.6 13

14 Mutual fund shares 10.2 15.8 15.3 15.9 17.7 18.5 19.0 24.6 30.4 34.5 38.7 42.7 38.8 14

15 Security credit 25.7 28.5 31.1 33.1 34.3 35.0 37.1 38.6 42.0 45.8 50.3 51.5 55.8 15

16 Trade receivables (2) 25.7 28.5 31.1 33.1 34.3 36.1 38.1 39.7 43.2 45.8 50.3 51.5 55.8 16

17 Equity in noncorporate business 26.1 22.2 16.2 31.4 42.0 49.0 49.2 59.4 67.8 77.5 90.0 102.0 118.3 17

18 Miscellaneous assets (2) 92.0 112.9 137.4 158.0 159.2 174.2 184.3 222.2 246.7 285.0 309.7 340.9 365.9 18

19 Liabilities 253.8 287.5 319.5 357.1 386.8 421.0 444.9 481.4 517.7 555.8 609.3 644.1 712.5 19

20 Credit market instruments 154.4 166.1 177.9 192.3 202.3 216.1 218.5 217.9 228.9 239.5 262.9 276.4 295.7 20

21 Municipal securities 79.6 82.7 85.7 89.5 91.9 93.0 96.1 96.4 102.4 109.6 121.3 131.7 137.5 21

22 Depository institution loans n.e.c. 11.8 13.1 14.5 16.1 17.3 19.3 19.2 19.1 19.8 20.4 22.3 22.7 24.9 22

23 Other loans and advances 0.3 0.3 0.5 0.9 0.7 0.8 0.9 0.8 0.9 0.7 0.6 0.7 0.4 23

24 Commercial mortgages 62.7 70.0 77.2 85.8 92.3 103.0 102.2 101.6 105.7 108.8 118.7 121.2 132.8 24

25 Trade payables 41.3 57.4 66.8 76.2 82.1 88.1 93.2 101.1 109.1 118.0 126.8 130.9 134.7 25

26 Miscellaneous liabilities (2) 58.2 63.9 74.8 88.6 102.5 116.8 133.3 162.4 179.7 198.4 219.7 236.8 282.1 26

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.

(2) Not included in table L.100.
122 Z.1, September 20, 2012

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Current receipts, NIPA basis 4197.0 4051.6 3705.3 3906.8 4086.1 4065.7 4093.2 4076.4 4109.2 4260.1 4289.2 1

 2 Personal current taxes 1488.7 1435.7 1144.6 1194.8 1398.0 1372.5 1396.6 1403.8 1419.1 1450.8 1474.7 2

 3 Taxes on production and imports 1027.2 1038.6 1023.2 1055.0 1097.9 1084.5 1099.0 1098.2 1109.8 1128.5 1135.5 3

 4 Taxes on corporate income 420.6 281.0 245.9 349.5 351.8 373.1 358.1 334.2 341.8 425.9 419.0 4

 5 Taxes from the rest of the world 14.7 18.8 14.8 15.1 15.9 14.1 14.9 17.0 17.4 15.4 17.0 5

 6 Contributions for govt. social insurance 964.2 992.1 968.1 988.2 923.8 918.9 923.6 925.3 927.3 947.1 953.0 6

 7 Income receipts on assets 144.2 137.5 143.1 141.8 141.7 142.4 142.0 142.1 140.5 140.3 140.1 7

 8 Current transfer receipts 149.2 163.9 181.2 181.9 183.7 183.4 183.6 183.4 184.4 184.2 184.1 8

 9 Current surplus of government enterprises -11.8 -16.0 -15.6 -19.5 -26.5 -23.1 -24.4 -27.5 -31.1 -32.0 -34.1 9

10 Current expenditures, NIPA basis 4430.0 4737.3 5047.9 5304.4 5425.5 5391.7 5475.6 5426.4 5408.3 5446.5 5496.3 10

11 Consumption expenditures 2217.8 2381.0 2460.3 2552.0 2579.5 2565.5 2591.3 2591.0 2570.4 2586.9 2581.1 11

12 Government social benefits 1701.2 1857.9 2116.5 2253.4 2291.4 2292.9 2291.8 2287.6 2293.4 2320.4 2333.9 12

13 Other current transfer payments 42.2 45.3 53.5 54.7 58.7 55.9 65.3 56.0 57.5 59.7 58.6 13

14 Interest payments 414.3 400.2 357.9 387.4 434.2 417.7 465.3 429.5 424.4 418.6 461.8 14

15 Subsidies 54.6 52.9 59.7 57.0 61.6 59.6 61.9 62.4 62.7 60.8 60.9 15

16 - Wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Net saving, NIPA basis -233.0 -685.7 -1342.6 -1397.7 -1339.4 -1326.0 -1382.3 -1350.0 -1299.1 -1186.4 -1207.1 17

18 + Consumption of fixed capital 291.3 311.2 323.5 333.5 349.4 342.6 347.1 352.4 355.5 359.0 362.7 18

19 - Insurance and pension fund reserves (1) 0.1 -0.6 0.5 -1.7 -0.4 -2.7 -0.1 0.5 0.6 -2.7 -0.1 19

20 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.7 4.8 5.0 4.9 4.4 4.4 4.4 4.5 4.5 4.6 4.6 20

21 - Net capital transfers (2) -2.6 3.0 14.9 28.1 28.3 27.2 31.6 31.9 22.6 14.5 12.1 21

22 = Gross saving less net capital transfers 56.1 -381.7 -1039.3 -1095.4 -1022.3 -1012.3 -1071.2 -1034.5 -971.2 -843.8 -861.1 22

23 Gross investment 53.0 -448.5 -963.6 -1014.1 -997.4 -1223.2 -64.6 -1720.4 -981.3 -1198.8 -703.9 23

24 Fixed investment 456.5 497.2 506.9 505.5 480.2 482.6 480.9 476.8 480.5 467.6 471.4 24

25 Nonproduced nonfinancial assets 12.5 -5.1 5.6 11.8 11.4 11.8 11.3 10.8 11.6 10.7 10.8 25

26 Net lending (+) or net borrowing (-) -416.0 -940.6 -1476.1 -1531.4 -1489.0 -1717.6 -556.9 -2208.0 -1473.4 -1677.1 -1186.1 26

27 Net acquisition of financial assets 74.3 506.3 164.3 247.7 -252.9 -763.2 -30.0 -287.0 68.7 -145.7 144.4 27

28 U.S. official reserve assets -0.4 4.2 51.9 1.6 16.2 16.3 24.8 16.0 7.9 4.6 13.0 28

29 Checkable deposits and currency 20.4 321.6 -155.0 155.5 -241.7 -830.9 7.4 -312.6 169.2 -131.9 88.2 29

30 Time and savings deposits 37.6 17.9 11.2 -0.4 17.7 -1.6 32.9 11.1 28.5 0.3 32.6 30

31 Money market fund shares 17.3 5.7 12.4 8.7 -2.7 1.8 3.2 -10.0 -5.8 -5.4 -7.8 31

32 Security RPs 6.4 -7.8 -1.1 -4.9 -8.0 -10.4 -9.2 -7.9 -4.6 -4.2 -6.2 32

33 Credit market instruments 66.3 5.0 222.2 60.7 -50.4 82.1 -95.3 -65.7 -122.8 -15.1 68.3 33

34 Open market paper -15.8 -73.1 -70.2 -9.8 9.1 4.3 5.7 11.5 15.1 15.4 13.3 34

35 Agency- and GSE-backed securities (3) 43.9 49.8 122.7 -60.7 -163.4 -79.8 -170.9 -185.7 -217.2 -166.4 -31.9 35

36 Municipal securities 1.6 0.7 1.2 0.9 -0.2 0.3 0.4 -0.9 -0.5 -0.5 -0.7 36

37 Corporate and foreign bonds 14.2 -1.3 7.4 2.6 -6.5 -5.2 -3.6 -10.9 -6.3 -5.8 -8.4 37

38 Mortgages 19.3 12.5 21.7 -5.2 -2.1 4.5 2.6 -13.2 -2.4 -2.6 -8.5 38

39 Consumer credit 6.0 11.3 74.3 130.2 108.7 149.8 83.0 127.5 74.4 135.8 99.0 39

40 Other loans and advances (4) -2.9 5.2 65.2 2.7 4.0 8.2 -12.5 6.0 14.1 8.9 5.4 40

41 Corporate equities -1.9 266.1 16.6 -6.8 34.0 8.9 53.6 51.6 21.8 -70.1 -21.1 41

42 Mutual fund shares 1.2 16.7 -8.8 -9.5 -1.6 -9.1 0.5 20.6 -18.4 -39.8 -7.7 42

43 Trade receivables -11.3 -16.9 -39.7 -20.9 -5.3 -23.3 -10.9 6.2 6.8 -5.2 6.9 43

44 Taxes receivable -32.7 -59.8 29.2 25.9 35.0 54.3 26.2 61.9 -2.3 81.3 25.4 44

45 Miscellaneous assets -28.5 -46.6 25.4 37.8 -46.0 -51.2 -63.2 -58.2 -11.6 39.7 -47.2 45

46 Net increase in liabilities 490.3 1446.9 1640.5 1779.1 1236.1 954.5 526.8 1921.1 1542.1 1531.5 1330.5 46

47 SDR allocations 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 SDR certificates 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

49 Treasury currency -0.7 -0.8 -0.4 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Credit market instruments 346.9 1295.5 1524.2 1639.2 1070.4 816.6 776.1 1391.0 1297.9 1435.2 1188.3 50

51 Savings bonds -6.0 -2.4 -2.8 -3.3 -2.7 -4.3 -3.8 -2.7 -0.1 -1.5 -2.4 51

52 Treasury bills and other Treasury securities (4) 207.0 1278.6 1416.2 1576.5 1131.5 905.4 858.4 1399.8 1362.4 1477.6 1168.0 52

53 Budget agency securities -0.4 0.2 0.1 0.7 1.1 1.2 0.2 1.9 1.1 -3.3 0.1 53

54 Municipal securities 146.2 19.2 110.7 65.3 -59.5 -85.7 -78.7 -8.1 -65.5 -37.6 22.5 54

55 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

56 Trade payables 66.4 61.8 -16.5 48.7 61.6 83.2 36.7 59.7 66.7 59.0 22.7 56

57 Insurance reserves 1.2 1.0 1.1 0.9 1.3 0.3 1.7 1.2 1.9 0.5 1.5 57

58 Miscellaneous liabilities (5) 76.6 89.5 81.4 90.6 102.9 54.4 -287.6 469.2 175.6 36.8 118.0 58

59 Discrepancy 3.1 66.8 -75.7 -81.4 -24.9 210.9 -1006.6 685.9 10.1 355.0 -157.1 59

 Memo:

60 Net govt. saving less fixed investment (6) -689.5 -1182.9 -1849.5 -1903.2 -1819.6 -1808.5 -1863.3 -1826.8 -1779.6 -1654.0 -1678.5 60

61 Adjustment between NIPA and FOF (7) 273.4 242.2 373.3 371.8 330.6 90.9 1306.4 -381.2 306.2 -23.1 492.4 61

62 Items to be financed (8) -416.0 -940.6 -1476.1 -1531.4 -1489.0 -1717.6 -556.9 -2208.0 -1473.4 -1677.1 -1186.1 62

(1) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector.

 Includes value of Treasury and agency- and GSE-backed securities held by state and local government employee retirement funds.

(2) Table F.9, line 60 less line 12.

(3) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(4) Excludes transactions with state and local governments.

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

 retirement fund, and foreign service retirement and disability fund.

(6) Line 17 less line 24.

(7) Line 18 less the sum of lines 19, 20, 21, 25, and 59.

(8) Line 60 plus line 61.
Z.1, September 20, 2012 123

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

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

2007 2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 2597.9 3124.3 3212.7 3417.2 3112.1 3216.2 3211.0 3106.3 3112.1 3062.8 3105.4 1

 2 U.S. official reserve assets 36.4 41.9 94.6 95.4 103.9 102.1 105.9 105.0 103.9 104.5 103.1 2

 3 Checkable deposits and currency 113.6 433.6 278.5 433.6 191.7 207.5 230.8 151.8 191.7 146.7 192.0 3

 4 Time and savings deposits 248.8 266.6 277.8 277.4 295.2 280.4 276.0 281.7 295.2 313.3 308.3 4

 5 Money market fund shares 116.6 122.3 134.7 143.5 140.8 143.9 144.7 142.2 140.8 139.4 137.5 5

 6 Security RPs 132.8 125.0 123.9 119.0 111.0 116.4 114.1 112.2 111.0 110.0 108.4 6

 7 Credit market instruments 1215.9 1221.0 1443.2 1503.9 1453.4 1525.7 1496.1 1483.8 1453.4 1450.9 1461.3 7

 8 Open market paper 139.3 66.2 -4.1 -13.8 -4.7 -12.8 -11.4 -8.5 -4.7 -0.9 2.5 8

 9 Agency- and GSE-backed securities (1) 467.6 517.4 640.0 579.3 415.9 559.4 516.6 470.2 415.9 374.3 366.3 9

10 Municipal securities 9.5 10.1 11.4 12.3 12.1 12.4 12.5 12.3 12.1 12.0 11.8 10

11 Corporate and foreign bonds 149.1 147.9 155.2 157.8 151.4 156.6 155.7 152.9 151.4 149.9 147.8 11

12 Mortgages 263.6 276.0 297.7 292.5 290.4 293.6 294.3 291.0 290.4 289.7 287.6 12

13 Consumer credit 93.0 104.3 178.6 308.8 417.4 347.5 362.4 398.5 417.4 452.6 470.7 13

14 Other loans and advances (2) 93.9 99.1 164.3 167.0 171.0 169.1 165.9 167.4 171.0 173.2 174.6 14

15 Corporate equities 94.5 254.8 163.3 128.1 130.2 131.6 136.0 130.2 130.2 117.1 109.3 15

16 Mutual fund shares 38.4 38.8 41.3 37.7 36.3 37.5 37.5 36.7 36.3 30.9 27.9 16

17 Trade receivables 130.5 113.6 73.9 53.0 47.7 49.7 47.0 48.2 47.7 49.0 50.6 17

18 Taxes receivable 342.5 389.3 416.1 448.9 474.0 458.2 466.8 463.0 474.0 479.5 486.2 18

19 Miscellaneous assets 127.9 117.4 165.3 176.7 127.8 163.2 156.0 151.5 127.8 121.5 120.9 19

20 Total liabilities 9358.7 10805.2 12442.6 14218.0 15439.9 14482.3 14481.6 15009.6 15439.9 15843.6 16049.6 20

21 SDR allocations 7.7 7.5 55.4 54.4 54.2 56.0 56.5 55.2 54.2 54.7 53.6 21

22 SDR certificates 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 22

23 Treasury currency 27.4 26.6 26.2 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 23

24 Credit market instruments 7390.1 8685.6 10209.8 11849.0 12919.4 12101.2 12176.4 12575.5 12919.4 13320.0 13503.4 24

25 Savings bonds 196.4 194.0 191.2 187.9 185.2 186.8 186.0 185.1 185.2 184.7 184.3 25

26 Treasury bills and other Treasury securities (3) 4314.7 5593.2 7009.4 8585.9 9717.4 8858.8 8967.6 9378.2 9717.4 10127.3 10321.7 26

27 Budget agency securities 23.1 23.3 23.5 24.2 25.3 24.5 24.5 25.0 25.3 24.4 24.5 27

28 Municipal securities 2855.9 2875.0 2985.7 3051.1 2991.6 3031.2 2998.3 2987.2 2991.6 2983.5 2972.9 28

29 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Trade payables 791.7 853.4 836.9 885.6 947.2 910.4 926.6 940.5 947.2 967.4 981.6 30

31 Insurance reserves 45.4 46.4 47.5 48.4 49.7 48.5 48.9 49.2 49.7 49.8 50.2 31

32 Miscellaneous liabilities (4) 1094.2 1183.5 1261.6 1349.4 1438.3 1335.1 1242.0 1358.1 1438.3 1420.6 1429.6 32

(1) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(2) Excludes loans to state and local governments.

(3) Excludes Treasury securities owed to state and local governments.

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

 retirement fund, and foreign service retirement and disability fund.
124 Z.1, September 20, 2012

F.116.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Net acquisition of financial assets -76.4 -82.4 -35.1 -31.9 -28.7 -33.1 -26.4 -26.7 -28.5 -27.8 -28.7 1

 2 Checkable deposits and currency 0.2 0.1 2.8 3.1 0.7 -4.3 2.2 1.3 3.4 -2.0 0.9 2

 3 Time and savings deposits 1.6 1.1 3.3 -0.0 0.5 0.3 2.4 -0.9 0.1 0.0 -0.4 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 0.2 0.1 -0.0 -1.1 -0.7 0.4 -1.0 -2.3 0.4 0.9 0.2 5

 6 Credit market instruments 84.8 71.8 114.1 29.9 1.0 -5.1 -15.1 25.9 -1.6 -3.8 -22.6 6

 7 Open market paper -4.5 10.1 -4.1 -2.2 -0.5 1.1 -1.0 -1.5 -0.8 0.2 -0.7 7

 8 Treasury securities 32.8 10.1 97.9 44.5 19.9 15.3 3.3 35.8 25.1 26.7 11.2 8

 9 Agency- and GSE-backed securities 26.7 13.7 -23.4 -10.9 -8.6 -5.2 -13.0 -3.9 -12.1 -23.9 -17.6 9

10 Corporate and foreign bonds 30.3 38.2 44.6 -1.2 -9.6 -16.1 -4.2 -4.4 -13.7 -6.7 -15.3 10

11 Mortgages -0.5 -0.3 -0.9 -0.3 -0.1 -0.2 -0.1 -0.1 -0.1 -0.2 -0.1 11

12 Corporate equities -209.0 -171.1 -159.6 -59.7 -37.3 -47.1 -31.3 -29.4 -41.3 -54.5 -34.3 12

13 Mutual fund shares 20.1 15.5 -5.2 -2.1 5.1 26.1 12.5 -19.8 1.6 19.9 14.5 13

14 Miscellaneous assets 25.6 0.0 9.6 -2.0 2.0 -3.4 3.8 -1.5 9.0 11.6 12.9 14

15 Unallocated insurance contracts (1) 29.0 24.0 5.6 -1.9 1.6 -5.0 4.0 3.0 4.3 6.6 7.9 15

16 Contributions receivable -0.2 -0.1 -0.4 -0.9 0.7 -0.0 -0.0 1.0 1.8 1.7 1.9 16

17 Other -3.1 -23.9 4.4 0.8 -0.3 1.6 -0.2 -5.5 2.9 3.3 3.1 17

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.116.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 108.1 45.6 95.1 93.1 100.7 111.8 112.7 50.8 127.7 115.9 93.2 1

 2 Checkable deposits and currency 0.4 0.3 1.4 1.4 0.4 0.2 1.5 0.2 -0.3 -0.9 0.8 2

 3 Time and savings deposits 3.0 -0.8 1.4 0.2 -0.0 -0.5 -0.4 -0.4 1.2 -0.2 -0.8 3

 4 Money market fund shares 3.4 2.3 0.6 -0.1 -0.2 -0.2 -0.2 -0.2 -0.2 0.0 0.0 4

 5 Security RPs 3.1 7.2 3.1 0.9 -3.6 0.8 -16.9 3.9 -2.0 12.2 -1.1 5

 6 Credit market instruments 17.7 18.9 -2.5 29.4 48.0 39.4 44.2 66.4 42.2 5.8 -4.4 6

 7 Open market paper -0.3 0.2 -6.4 -6.3 -0.9 3.4 -1.1 -1.1 -4.7 2.8 1.6 7

 8 Treasury securities 5.9 5.3 27.9 35.8 25.3 16.6 23.2 39.8 21.6 20.8 10.9 8

 9 Agency- and GSE-backed securities 1.4 7.7 -25.7 -0.6 13.6 10.2 17.2 16.8 10.3 -17.0 -24.9 9

10 Corporate and foreign bonds 9.5 4.5 -1.8 -1.6 10.4 10.9 5.9 13.1 11.8 -0.4 8.3 10

11 Mortgages 1.2 1.2 3.5 2.2 -0.4 -1.7 -1.0 -2.2 3.2 -0.4 -0.3 11

12 Corporate equities 20.7 -13.6 -16.0 9.2 13.3 14.1 16.5 10.9 11.5 -13.1 -8.5 12

13 Mutual fund shares 68.0 20.0 95.0 83.0 51.0 80.0 88.0 -32.0 68.0 120.0 100.0 13

14 Miscellaneous assets -8.1 11.3 12.0 -30.9 -8.2 -22.1 -19.9 1.9 7.3 -8.0 7.3 14

15 Unallocated insurance contracts (2) -2.7 14.2 4.5 -2.5 -1.9 -2.3 -3.0 -1.8 -0.4 -1.4 -0.8 15

16 Contributions receivable 4.7 0.8 2.9 -0.4 -0.5 -0.6 -0.1 -0.5 -0.8 -0.4 -0.6 16

17 Other -10.1 -3.7 4.6 -28.0 -5.8 -19.2 -16.9 4.2 8.5 -6.2 8.8 17

(1) Includes 401(k) type plans.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.225.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total held at: 275.7 247.5 198.6 88.7 20.1 -140.0 168.0 100.0 -47.6 -72.6 ND 1

 2 U.S.-chartered depository institutions 22.2 44.2 30.7 26.6 20.3 9.0 28.0 47.1 -2.8 12.4 ND 2

 3 Credit unions 5.0 7.2 8.7 3.0 1.3 1.1 1.4 1.7 0.8 3.1 ND 3

 4 Life insurance companies 17.9 28.9 -6.0 11.9 4.6 -5.1 17.8 36.0 -30.2 6.1 ND 4

 5 Money market mutual funds 45.0 48.0 -42.0 -23.0 9.0 -20.0 20.0 44.0 -8.0 -32.0 ND 5

 6 Mutual funds 118.5 -118.7 149.8 122.1 49.7 133.0 106.5 -121.1 80.3 186.1 ND 6

 7 Other self-directed accounts 67.0 237.8 57.4 -51.9 -64.8 -258.0 -5.8 92.3 -87.7 -248.3 ND 7

(1) Assets of the household sector (F.100). IRA assets are not included in pension fund reserves (table F.225), except for those at life insurance companies. Figures for depositories (lines 2 through 4)

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7) and from the money market fund sector (line 6).
Z.1, September 20, 2012 125

L.116.b Private Pension Funds: Defined Benefit Plans

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

2007 2008 2009 2010 2011 2011 2012

 Q1 Q2 Q3 Q4 Q1 Q2

 1 Total financial assets 2596.0 1853.5 2104.7 2264.3 2206.4 2322.7 2309.7 2102.9 2206.4 2341.3 2281.4 1

 2 Checkable deposits and currency 5.8 5.9 8.7 11.8 12.4 10.7 11.2 11.6 12.4 11.9 12.2 2

 3 Time and savings deposits 44.0 45.0 48.3 48.3 48.7 48.4 48.9 48.7 48.7 48.7 48.7 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 5.6 5.8 5.7 4.7 4.0 4.8 4.5 3.9 4.0 4.2 4.3 5

 6 Credit market instruments 587.6 659.3 773.4 803.3 804.3 802.0 798.3 804.7 804.3 803.4 797.7 6

 7 Open market paper 1.0 11.0 6.9 4.8 4.2 5.0 4.8 4.4 4.2 4.3 4.1 7

 8 Treasury securities 104.6 114.8 212.7 257.1 277.0 260.9 261.8 270.7 277.0 283.7 286.5 8

 9 Agency- and GSE-backed securities 227.8 241.5 218.2 207.3 198.7 206.0 202.8 201.8 198.7 192.8 188.4 9

10 Corporate and foreign bonds 250.6 288.7 333.3 332.1 322.5 328.1 327.0 325.9 322.5 320.8 317.0 10

11 Mortgages 3.6 3.2 2.3 2.0 1.9 2.0 1.9 1.9 1.9 1.8 1.8 11

12 Corporate equities 1423.8 777.1 805.2 878.8 829.9 916.4 903.9 754.5 829.9 920.3 877.7 12

13 Mutual fund shares 338.6 228.0 286.3 318.1 308.0 335.5 337.3 294.5 308.0 336.7 328.5 13

14 Miscellaneous assets 190.7 132.4 177.1 199.4 199.1 204.9 205.5 185.0 199.1 216.0 212.3 14

15 Unallocated insurance contracts (1) 154.2 119.9 160.5 182.9 182.1 188.0 188.6 169.2 182.1 197.8 192.9 15

16 Contributions receivable 1.4 1.3 0.9 0.0 0.7 0.0 0.0 0.3 0.7 1.2 1.6 16

17 Other 35.1 11.3 15.7 16.5 16.2 16.9 16.9 15.5 16.2 17.0 17.8 17

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.116.c Private Pension Funds: Defined Contribution Plans (1)

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

 1 Total financial assets 3814.5 2699.2 3366.3 3835.7 3875.2 4008.5 4020.0 3595.3 3875.2 4219.7 4109.7 1

 2 Checkable deposits and currency 6.0 6.4 7.7 9.1 9.5 9.2 9.5 9.6 9.5 9.3 9.5 2

 3 Time and savings deposits 23.7 22.9 24.3 24.6 24.6 24.4 24.3 24.2 24.6 24.5 24.3 3

 4 Money market fund shares 93.5 95.7 96.4 96.3 96.1 96.2 96.2 96.1 96.1 96.1 96.1 4

 5 Security RPs 20.1 27.3 30.5 31.4 27.9 31.6 27.4 28.4 27.9 30.9 30.6 5

 6 Credit market instruments 273.3 292.1 289.6 319.1 367.1 328.9 340.0 356.5 367.1 368.6 367.5 6

 7 Open market paper 26.0 26.1 19.7 13.4 12.5 14.2 14.0 13.7 12.5 13.2 13.6 7

 8 Treasury securities 64.9 70.2 98.1 133.9 159.2 138.0 143.8 153.8 159.2 164.4 167.1 8

 9 Agency- and GSE-backed securities 68.9 76.6 50.9 50.3 63.9 52.8 57.1 61.3 63.9 59.7 53.4 9

10 Corporate and foreign bonds 106.9 111.4 109.6 108.0 118.4 110.7 112.2 115.5 118.4 118.3 120.4 10

11 Mortgages 6.6 7.8 11.3 13.5 13.1 13.1 12.8 12.3 13.1 13.0 12.9 11

12 Corporate equities 1249.5 822.7 1030.6 1202.3 1175.2 1269.0 1260.8 1061.0 1175.2 1325.3 1270.3 12

13 Mutual fund shares 1772.0 1138.0 1531.0 1803.0 1836.6 1895.1 1913.3 1700.6 1836.6 2008.1 1962.8 13

14 Miscellaneous assets 376.4 294.1 356.2 350.0 338.2 354.1 348.5 318.8 338.2 357.0 348.7 14

15 Unallocated insurance contracts (2) 277.1 197.7 252.3 274.6 269.2 283.6 282.3 251.7 269.2 289.6 279.2 15

16 Contributions receivable 45.8 46.7 49.6 49.1 48.6 49.0 49.0 48.8 48.6 48.5 48.4 16

17 Other 53.4 49.7 54.3 26.3 20.4 21.5 17.3 18.3 20.4 18.9 21.1 17

(1) Includes 401(k) type plans.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.225.i Individual Retirement Accounts (IRAs) (1)

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

 1 Total held at: 4748.0 3681.0 4363.0 4839.0 4872.0 5025.0 5079.0 4658.0 4872.0 5229.0 ND 1

 2 U.S.-chartered depository institutions 281.8 326.0 356.7 383.3 403.6 385.6 392.6 404.3 403.6 406.7 ND 2

 3 Credit unions 58.2 65.5 74.2 77.2 78.5 77.5 77.9 78.3 78.5 79.3 ND 3

 4 Life insurance companies 426.0 381.6 405.5 436.0 446.0 446.0 450.0 439.0 446.0 461.0 ND 4

 5 Money market mutual funds 224.0 272.0 230.0 207.0 216.0 202.0 207.0 218.0 216.0 208.0 ND 5

 6 Mutual funds 1987.0 1269.0 1659.0 1922.0 1892.0 2021.0 2039.0 1780.0 1892.0 2081.0 ND 6

 7 Other self-directed accounts 1770.9 1366.9 1637.6 1813.5 1835.9 1892.9 1912.6 1738.4 1835.9 1993.0 ND 7

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension fund reserves (table L.225), except for those at life insurance companies. Figures for depositories

 (lines 2 through 4) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 5) and are excluded from the mutual fund sector (line 7) and from the money market fund

 sector (line 6).
Z.1, September 20, 2012 Flow of Funds Matrix for 2011

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial Rest of 

Organizations Business Governments Government Sectors Sectors the World 

 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) (1

 1 Gross saving less net cap. transfers -- 1881.6 -- 1688.1 -- 182.9 -- -1205.2 -- 2547.4 -- 355.6 -- 467 2 Capital consumption -- 1239.8 -- 1107.3 -- 212.4 -- 137.0 -- 2696.5 -- 178.4 --  3 Net saving (1 less 2) -- 641.8 -- 580.7 -- -29.5 -- -1342.2 -- -149.2 -- 177.2 -- 467 4 Gross investment (5 plus 11) 2440.8 -- 1504.6 -- 201.6 -- -1199.0 -- 2948.0 -- 22.5 -- 555.1  5 Capital expenditures 1460.7 -- 1275.3 -- 331.1 -- 160.5 -- 3227.6 -- 179.1 -- -0.1  6 Consumer durables 1071.6 -- -- -- -- -- -- -- 1071.6 -- -- -- --  7 Residential 286.4 -- 46.1 -- 6.8 -- 2.0 -- 341.3 -- 6.3 -- --  8 Nonresidential 112.0 -- 1194.7 -- 312.9 -- 158.6 -- 1778.1 -- 172.9 -- --  9 Inventory change -- -- 36.6 -- -- -- -- -- 36.6 -- -- -- -- 10 Nonproduced nonfinancial assets -9.3 -- -2.1 -- 11.5 -- -0.1 -- 0.1 -- -- -- -0.1 11 Net lending (+) or net borrowing (-) 980.1 -- 229.2 -- -129.5 -- -1359.5 -- -279.7 -- -156.7 -- 555.1 12 Total financial assets 744.9 -- 845.8 -- -147.9 -- -166.0 -- 1276.8 -- 1915.7 -- 1043.4 13 Total liabilities -- -235.2 -- 616.6 -- -18.4 -- 1193.5 -- 1556.4 -- 2072.3 -- 48814 U.S. official reserve assets -- -- -- -- -- -- 16.2 0.0 16.2 0.0 -0.3 -- 0.0 1515 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- 16 Treasury currency -- -- -- -- -- -- -- 0.0 -- 0.0 0.7 -- -- 17 Foreign deposits -1.9 -- -7.1 -- -- -- -- -- -9.0 -- -47.3 -- -- -3218 Interbank claims -- -- -- -- -- -- -- -- -- -- 603.0 854.6 221.4 19 Checkable dep. and currency 292.3 -- 68.6 -- 15.9 -- -257.6 -- 119.2 -- 34.1 234.5 80.5 20 Time and savings deposits 379.1 -- 24.1 -- 18.0 -- -0.3 -- 421.0 -- -84.9 372.8 36.7 21 Money market fund shares -21.8 -- -33.0 -- -2.7 -- -- -- -57.5 -- -49.8 -112.8 -5.4 22 Fed. funds and security RPs -- -- 0.7 -- -8.0 -- -- -- -7.3 -- -67.6 -137.0 51.2 23 Credit market instruments -400.2 -209.1 -14.8 525.7 -110.8 -58.6 -0.7 1067.9 -526.5 1325.9 1104.9 -422.3 360.0 3424 Open market paper -5.3 -- -8.5 33.4 9.1 -- -- -- -4.7 33.4 -83.2 -68.1 -0.3 -5325 Treasury securities -268.1 -- -0.4 -- -61.9 -- -- 1066.8 -330.5 1066.8 985.2 -- 412.1 26 Agency- and GSE-backed sec. -25.3 -- -0.1 -- -45.3 -- -118.1 1.1 -188.8 1.1 192.2 -21.9 -24.2 27 Municipal securities -61.4 -7.8 -4.5 15.1 -0.2 -59.5 -- -- -66.1 -52.2 2.9 -- 10.9 28 Corporate and fgn. bonds -26.7 -- -- 384.6 -6.4 -- -0.1 -- -33.2 384.6 243.2 -313.0 -80.7 5729 Depository inst. loans n.e.c. -- -53.9 -- 125.6 -- -- -- -- -- 71.7 132.5 31.6 -- 2930 Other loans and advances -2.8 1.9 -- 68.3 -- 0.9 4.8 -- 2.0 71.1 -31.6 -60.0 42.1 31 Mortgages -10.7 -235.8 -1.6 -101.3 -6.2 -- 4.0 0.0 -14.4 -337.1 -313.6 9.1 -- 32 Consumer credit -- 86.4 0.4 -- -- -- 108.7 -- 109.1 86.4 -22.6 -- -- 33 Corporate equities -173.9 -- -- -472.7 -6.0 -- 40.0 -- -139.9 -472.7 -40.5 165.5 -37.7 8934 Mutual fund shares 298.4 -- -11.2 -- -1.6 -- -- -- 285.6 -- 47.0 403.1 70.5 35 Trade credit -- 14.0 184.1 176.6 -10.0 40.2 4.8 21.4 178.8 252.2 -0.8 -3.9 17.2 -2636 Security credit 58.1 -39.7 -- -- -- -- -- -- 58.1 -39.7 39.3 137.0 0.0 037 Life insurance reserves 86.9 -- -- -- -- -- -- 1.3 86.9 1.3 7.3 92.8 -- 38 Pension fund reserves 194.4 -- -- -- -- -- -- -- 194.4 -- -- 194.4 -- 39 Taxes payable -- -- -- 4.5 5.4 -- 29.7 -- 35.0 4.5 -- 9.2 -- 40 Equity in noncorp. business -13.3 -- -- -11.7 -- -- -- -- -13.3 -11.7 -- -1.7 -- 41 Miscellaneous 46.8 -0.4 634.4 394.1 -48.0 -- 1.9 102.9 635.2 496.6 370.7 285.9 249.0 40742 Sector discrepancies (1 less 4) -559.2 -- 183.5 -- -18.7 -- -6.2 -- -400.6 -- 333.2 -- -87.7 General 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.
Z.1, September 20, 2012 Flow of Funds Matrix for 2011

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

Households State Domestic Domestic 

and Nonprofit Nonfinancial and Local Federal Nonfinancial Financial R

Organizations Business Governments Government Sectors Sectors the 

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

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) 

 1 Total financial assets 50275.4 -- 18475.3 -- 2302.2 -- 1350.9 -- 72403.8 -- 66067.0 -- 18801.8  2 Total liabilities and equity -- 13484.7 -- 41295.5 -- 3719.4 -- 12261.6 -- 70761.2 -- 66622.4 --  3 Total liabilities -- 13484.7 -- 19266.6 -- 3719.4 -- 12261.6 -- 48732.2 -- 62459.4 --  4 U.S. official reserve assets -- -- -- -- -- -- 103.9 54.2 103.9 54.2 36.8 -- 54.2  5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- --  6 Treasury currency -- -- -- -- -- -- -- 25.9 -- 25.9 44.2 -- --  7 Foreign deposits 50.1 -- 34.0 -- -- -- -- -- 84.2 -- 58.5 -- --  8 Interbank claims -- -- -- -- -- -- -- -- -- -- 1622.6 1984.6 367.3  9 Checkable dep. and currency 629.0 -- 914.9 -- 107.4 -- 84.3 -- 1735.6 -- 381.2 2594.3 471.0 10 Time and savings deposits 6778.7 -- 875.3 -- 293.5 -- 1.7 -- 7949.2 -- 572.4 8805.2 283.6 11 Money market fund shares 1116.6 -- 522.7 -- 140.8 -- -- -- 1780.0 -- 798.2 2642.5 64.3 12 Fed. funds and security RPs -- -- 12.8 -- 111.0 -- -- -- 123.8 -- 823.2 1140.7 -44.9 13 Credit market instruments 4823.7 12933.7 307.8 11769.1 1248.3 3006.8 746.2 10453.6 7125.9 38163.3 38257.2 14070.6 9127.4 14 Open market paper 58.2 -- 59.2 116.3 -4.7 -- -- -- 112.7 116.3 665.9 507.8 190.7 15 Treasury securities 580.3 -- 91.8 -- 525.8 -- -- 10428.3 1197.8 10428.3 4159.3 -- 5071.1 16 Agency- and GSE-backed sec. 77.5 -- 15.9 -- 384.8 -- 31.1 25.3 509.2 25.3 5988.3 7552.1 1079.9 17 Municipal securities 1887.0 254.4 24.5 497.4 12.1 2991.6 -- -- 1923.6 3743.4 1737.1 -- 82.7 18 Corporate and fgn. bonds 2118.1 -- -- 5076.0 150.6 -- 0.8 -- 2269.4 5076.0 7091.3 5021.4 2500.5 19 Depository inst. loans n.e.c. -- 12.4 -- 1530.2 -- -- -- -- -- 1542.6 2086.8 399.9 -- 20 Other loans and advances 23.4 138.1 -- 1220.3 -- 15.3 186.3 -- 209.6 1373.7 1398.2 413.1 202.5 21 Mortgages 79.5 9897.1 62.9 3329.0 179.8 -- 110.6 0.0 432.7 13226.1 12969.5 176.2 -- 22 Consumer credit -- 2631.7 53.5 -- -- -- 417.4 -- 470.9 2631.7 2160.8 -- -- 23 Corporate equities 8720.8 -- -- 14516.7 72.7 -- 57.5 -- 8851.0 14516.7 11000.3 4150.0 2973.6 24 Mutual fund shares 4645.8 -- 167.5 -- 36.3 -- -- -- 4849.6 -- 2591.0 8000.5 559.9 25 Trade credit -- 288.2 2849.0 2296.5 0.0 712.5 47.7 234.7 2896.7 3531.9 134.8 14.2 133.5 26 Security credit 752.3 238.5 -- -- -- -- -- -- 752.3 238.5 559.8 1073.6 0.0 27 Life insurance reserves 1203.6 -- -- -- -- -- -- 49.7 1203.6 49.7 148.4 1302.3 -- 28 Pension fund reserves 13152.4 -- -- -- -- -- -- -- 13152.4 -- -- 13152.4 -- 29 Taxes payable -- -- -- 142.5 307.5 -- 166.5 -- 474.0 142.5 -- -77.8 -- 30 Equity in noncorp. business 7525.3 -- -- 7512.3 -- -- -- -- 7525.3 7512.3 -- 13.0 -- 31 Miscellaneous 877.2 24.3 12791.3 5058.5 -15.3 -- 143.1 1438.3 13796.4 6521.1 9033.2 7756.4 4811.8 General 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 25) and equity in noncorporate business (line 32). 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.