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

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

September 18, 2014 

Z.1 

Financial Accounts 

of the United States 

Flow of Funds, Balance Sheets, 

and Integrated Macroeconomic Accounts

Historical Annual Tables 

1995–2004

 

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

Summaries 

Total Credit Market Borrowing and Lending F.1 1 

Credit Market Borrowing by Nonfinancial Sectors F.2 2 

Credit Market Borrowing by Financial Sectors F.3 2 

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

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

Credit Market Debt Outstanding L.1 4 

Credit Market Debt Owed by Nonfinancial Sectors L.2 5 

Credit Market Debt Owed by Financial Sectors L.3 5 

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

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

Distribution of Gross Domestic Product F.6 7 

Distribution of National Income F.7 8 

Saving and Investment F.8 9 

Net Capital Transfers F.9 10 

Derivation of Measures of Personal Saving F.10 11 

Assets and Liabilities of the Personal Sector L.10 12 

Title 

Flows Levels 

Table Page Table Page 

Sectors

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

Nonfinancial Business F.101 14 L.101 64 

Nonfinancial Corporate Business F.102 15 L.102 65 

Nonfinancial Noncorporate Business F.103 16 L.103 66 

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

Federal Government F.105 18 L.105 68 

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

Financial Business F.107 20 L.107 70 

Monetary Authority F.108 21 L.108 71 

Private Depository Institutions F.109 22 L.109 72 

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

List of Data Tables 
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Sectors

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

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

Credit Unions F.113 25 L.113 75 

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

Life Insurance Companies F.115 27 L.115 77 

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

Private Pension Funds F.117 29 L.117 79 

State and Local Government Employee Retirement 

Funds F.118 30 L.118 80 

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

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

Mutual Funds F.121 31 L.121 81 

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

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

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

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

Finance Companies F.126 33 L.126 83 

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

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

Holding Companies F.129 36 L.129 86 

Funding Corporations F.130 37 L.130 87 

Instruments 

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

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 38 L.201 88 

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

Net Interbank Transactions F.203 39 L.203 89 

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

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

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

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

Open Market Paper F.208 43 L.208 93 

Treasury Securities F.209 44 L.209 94 

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

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

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

Corporate Equities F.213 48 L.213 98 

Mutual Fund Shares F.214 48 L.214 98 

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

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

Total Mortgages F.217 51 L.217 101 

Home Mortgages F.218 52 L.218 102 

Multifamily Residential Mortgages F.219 52 L.219 102 

Commercial Mortgages F.220 53 L.220 103 

Farm Mortgages F.221 53 L.221 103 

Consumer Credit F.222 54 L.222 104 

Trade Credit F.223 55 L.223 105 

Security Credit F.224 55 L.224 105 

Life Insurance Reserves F.225 56 L.225 106 

Pension Entitlements F.226 56 L.226 106 

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

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

Direct Investment F.229 57 L.229 107 

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

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

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

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

Sector Discrepancies F.11 62 

Instrument Discrepancies F.12 62 

Title 

Balance Sheet Reconciliation 

Table Page Table Page 

Balance Sheet and Changes in Net Worth 

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

Nonfinancial Corporate Business B.102 113 R.102 116 

Nonfarm Noncorporate Business B.103 114 R.103 117 

 
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Title 

Flows Levels 

Table Page Table Page 

Supplementary Tables 

Balance Sheet of Households and Nonprofit 

Organizations with Equity Detail B.100.e 118 

Consolidated Statement for Federal, State, and Local 

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

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

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

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

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

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

State and Local Government Employee Retirement 

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

State and Local Government Employee Retirement 

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

Federal Government Employee Retirement Funds: 

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

Federal Government Employee Retirement Funds: 

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

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

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

Title Table Page 

Integrated Macroeconomic Accounts for the United States 

Total Economy-Current Account S.1.a 131 

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

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

Nonfinancial Noncorporate Business S.4.a 137 

Nonfinancial Corporate Business S.5.a 140 

Financial Business S.6.a 143 

Federal Government S.7.a 146 

State and Local Governments S.8.a 149 

Rest of the World S.9.a 152 
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Historical Annuals, 1995-2004, September 18, 2014 1

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Credit market borrowing 1143.5 1293.8 1410.0 2047.0 2075.2 1697.6 1947.7 2304.3 2686.6 3028.6 1

 2 Domestic nonfinancial sectors 633.4 681.5 761.9 984.5 1007.2 846.2 1106.6 1369.1 1597.8 1990.8 2

 3 Household sector 319.5 324.8 306.9 412.2 473.8 574.4 666.1 812.2 1004.5 1051.8 3

 4 Nonfinancial corporate business 184.9 161.9 279.3 379.1 373.5 358.4 177.1 3.0 2.8 143.5 4

 5 Nonfinancial noncorporate business 45.3 70.4 101.9 179.0 193.8 192.4 163.5 151.9 73.9 254.7 5

 6 State and local governments -60.8 -20.5 50.8 66.8 37.3 16.9 105.5 144.6 120.5 178.8 6

 7 Federal government 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 7

 8 Rest of the world 76.4 89.0 77.7 36.0 15.4 60.5 -21.1 53.6 17.2 99.1 8

 9 Financial sectors 433.6 523.2 570.3 1026.5 1052.6 790.8 862.3 881.6 1071.5 938.8 9

 10 U.S.-chartered depository institutions 8.6 35.8 45.8 94.7 105.4 56.6 26.6 2.3 32.4 81.2 10

 11 Foreign banking offices in U.S. -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 11

 12 Credit unions -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 12

 13 Life insurance companies -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 13

 14 Government-sponsored enterprises 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 14

 15 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 15

 16 ABS issuers 127.8 114.6 137.3 258.1 153.8 169.2 261.8 228.7 250.3 439.4 16

 17 Finance companies 47.9 54.7 29.3 60.9 75.5 86.3 10.9 66.2 111.1 134.3 17

 18 REITs 4.5 11.9 39.6 62.7 8.3 2.8 3.8 27.0 32.3 94.6 18

 19 Brokers and dealers -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 19

 20 Holding companies 13.8 12.6 18.7 34.9 39.2 27.7 17.3 19.6 50.9 55.7 20

 21 Funding corporations 34.9 63.8 79.9 40.0 91.6 -1.6 -103.6 -10.7 -3.2 -2.9 21

 22 Credit market lending 1143.5 1293.8 1410.0 2047.0 2075.2 1697.6 1947.7 2304.3 2686.6 3028.6 22

 23 Domestic nonfinancial sectors -136.3 19.7 -78.6 128.7 103.0 24.2 -94.5 84.8 -44.1 277.8 23

 24 Household sector -15.4 55.7 -85.5 17.5 24.1 -83.2 -194.7 -34.6 -67.9 121.5 24

 25 Nonfinancial corporate business -8.8 -10.2 -7.2 -17.0 -24.2 26.5 -4.7 25.9 -2.7 31.2 25

 26 Nonfinancial noncorporate business 3.8 4.0 2.6 12.9 -3.1 2.1 7.1 -0.8 1.5 11.5 26

 27 State and local governments -91.4 -33.7 0.1 109.7 101.9 70.7 93.9 86.2 27.3 111.3 27

 28 Federal government -24.7 3.9 11.3 5.6 4.3 8.1 3.9 8.0 -2.4 2.3 28

 29 Rest of the world 246.8 379.6 259.6 168.5 140.4 242.3 322.2 442.9 518.7 810.2 29

 30 Financial sectors 1032.9 894.6 1229.0 1749.8 1831.8 1431.2 1720.0 1776.7 2212.0 1940.6 30

 31 Monetary authority 12.7 12.3 38.3 21.1 25.7 33.7 39.9 77.7 37.2 51.2 31

 32 U.S.-chartered depository institutions 174.7 138.7 271.0 338.6 401.8 384.1 232.8 419.3 476.2 648.2 32

 33 Foreign banking offices in U.S. 73.1 63.6 44.5 -15.8 -25.0 23.9 -2.4 -4.3 -37.0 21.5 33

 34 Banks in U.S.-affiliated areas 4.2 0.7 3.7 6.0 4.4 6.7 10.0 1.3 10.6 13.9 34

 35 Credit unions 16.2 25.5 16.8 18.9 27.5 28.0 41.5 44.2 51.2 39.8 35

 36 Property-casualty insurance companies 26.7 21.2 25.0 10.7 -12.3 -2.2 2.2 48.1 75.8 86.0 36

 37 Life insurance companies 100.0 69.6 104.8 76.9 53.8 57.9 127.6 228.8 178.4 165.2 37

 38 Private pension funds 16.8 -7.7 44.1 -9.0 104.0 -123.0 -37.1 -6.8 72.0 -0.6 38

 39 State and local govt. retirement funds 31.2 30.1 60.6 66.4 50.2 33.4 -50.1 -47.7 17.8 24.4 39

 40 Federal government retirement funds -5.4 11.5 1.9 2.7 2.6 2.1 9.6 13.2 6.9 5.1 40

 41 Money market mutual funds 86.5 88.8 87.5 248.9 185.7 145.4 268.5 -29.5 -73.7 -144.8 41

 42 Mutual funds 52.5 48.9 80.9 127.3 48.4 26.3 126.4 138.5 137.0 114.7 42

 43 Closed-end funds 8.5 2.9 -1.1 4.9 9.6 -5.6 3.2 8.6 35.4 10.7 43

 44 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 0.7 3.8 44

 45 Government-sponsored enterprises 95.3 97.3 106.7 317.3 287.3 246.0 304.7 224.0 241.1 48.9 45

 46 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 46

 47 ABS issuers 110.7 100.2 114.4 252.3 174.5 156.3 249.0 235.4 241.7 429.8 47

 48 Finance companies 59.5 42.6 23.7 92.0 133.8 155.3 68.9 121.8 176.2 207.2 48

 49 REITs 1.4 4.4 20.2 -5.1 0.9 -5.2 9.1 22.2 26.4 87.6 49

 50 Brokers and dealers 90.1 -15.7 14.9 6.8 -34.7 68.9 92.4 28.4 79.6 -29.2 50

 51 Holding companies -0.3 3.9 5.4 -0.9 6.2 -12.2 4.2 3.1 8.6 -0.0 51

 52 Funding corporations -19.8 14.8 51.1 -2.8 112.7 11.5 -118.9 -80.3 114.4 116.6 52

(1) Excludes corporate equities and mutual fund shares.
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2 Historical Annuals, 1995-2004, September 18, 2014

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Domestic 633.4 681.5 761.9 984.5 1007.2 846.2 1106.6 1369.1 1597.8 1990.8 1

 2 By instrument 633.4 681.5 761.9 984.5 1007.2 846.2 1106.6 1369.1 1597.8 1990.8 2

 3 Commercial paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 3

 4 Treasury securities 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 4

 5 Agency- and GSE-backed securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 5

 6 Municipal securities -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 203.7 6

 7 Corporate bonds 58.4 87.7 127.5 207.4 206.9 151.0 293.4 82.3 72.9 -12.1 7

 8 Depository institution loans n.e.c. 107.3 62.9 111.7 98.6 72.3 101.2 -77.7 -103.7 -73.0 16.9 8

 9 Other loans and advances 34.7 27.7 60.1 65.6 27.8 87.0 -0.5 35.3 5.3 52.9 9

 10 Mortgages 181.1 260.0 298.6 459.8 567.4 554.6 706.8 891.1 990.4 1235.0 10

 11 Home 167.5 223.2 234.6 356.5 427.5 425.0 553.1 756.3 814.2 1022.2 11

 12 Multifamily residential 4.3 9.7 7.0 26.1 38.3 26.3 40.7 37.3 70.0 46.6 12

 13 Commercial 7.5 24.4 52.9 72.6 97.5 105.8 109.2 90.6 118.5 153.8 13

 14 Farm 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 14

 15 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 15

 16 By sector 633.4 681.5 761.9 984.5 1007.2 846.2 1106.6 1369.1 1597.8 1990.8 16

 17 Household sector 319.5 324.8 306.9 412.2 473.8 574.4 666.1 812.2 1004.5 1051.8 17

 18 Nonfinancial business 230.2 232.3 381.2 558.1 567.3 550.8 340.6 154.8 76.7 398.3 18

 19 Corporate 184.9 161.9 279.3 379.1 373.5 358.4 177.1 3.0 2.8 143.5 19

 20 Noncorporate 45.3 70.4 101.9 179.0 193.8 192.4 163.5 151.9 73.9 254.7 20

 21 State and local governments -60.8 -20.5 50.8 66.8 37.3 16.9 105.5 144.6 120.5 178.8 21

 22 Federal government 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 22

 23 Foreign borrowing in U.S. 76.4 89.0 77.7 36.0 15.4 60.5 -21.1 53.6 17.2 99.1 23

 24 Commercial paper 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.9 69.2 24

 25 Bonds 56.9 66.6 59.6 28.8 10.4 21.3 -20.5 3.8 0.8 32.5 25

 26 Depository institution loans n.e.c. 6.6 10.1 16.3 5.4 -5.6 8.8 -15.2 -6.7 -0.5 1.0 26

 27 Other loans and advances -0.5 1.0 -1.8 -6.0 -5.7 -1.3 -3.8 -2.3 -2.0 -3.6 27

 28 Domestic and foreign 709.8 770.5 839.7 1020.5 1022.6 906.8 1085.4 1422.7 1615.1 2089.9 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars

 1 By instrument 433.6 523.2 570.3 1026.5 1052.6 790.8 862.3 881.6 1071.5 938.8 1

 2 Open market paper 42.7 92.2 166.7 161.0 176.2 131.7 -126.9 -99.9 -63.5 21.7 2

 3 GSE issues 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 3

 4 Agency- and GSE-backed mortgage pool sec. 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 4

 5 Corporate bonds 181.2 141.9 130.0 246.8 148.6 173.7 307.5 399.0 487.8 668.3 5

 6 Depository institution loans n.e.c. -3.3 21.9 9.5 32.1 20.1 3.4 11.2 17.9 20.9 33.4 6

 7 Other loans and advances 3.4 27.9 35.6 90.2 107.1 42.5 25.5 6.8 31.2 74.1 7

 8 Mortgages 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 8

 9 By sector 433.6 523.2 570.3 1026.5 1052.6 790.8 862.3 881.6 1071.5 938.8 9

 10 U.S.-chartered depository institutions 8.6 35.8 45.8 94.7 105.4 56.6 26.6 2.3 32.4 81.2 10

 11 Foreign banking offices in U.S. -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 11

 12 Credit unions -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 12

 13 Life insurance companies -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 13

 14 Government-sponsored enterprises 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 14

 15 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 15

 16 ABS issuers 127.8 114.6 137.3 258.1 153.8 169.2 261.8 228.7 250.3 439.4 16

 17 Finance companies 47.9 54.7 29.3 60.9 75.5 86.3 10.9 66.2 111.1 134.3 17

 18 REITs 4.5 11.9 39.6 62.7 8.3 2.8 3.8 27.0 32.3 94.6 18

 19 Brokers and dealers -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 19

 20 Holding companies 13.8 12.6 18.7 34.9 39.2 27.7 17.3 19.6 50.9 55.7 20

 21 Funding corporations 34.9 63.8 79.9 40.0 91.6 -1.6 -103.6 -10.7 -3.2 -2.9 21
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Historical Annuals, 1995-2004, September 18, 2014 3

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total 1143.5 1293.8 1410.0 2047.0 2075.2 1697.6 1947.7 2304.3 2686.6 3028.6 1

 2 Open market paper 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 2

 3 Treasury securities 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 3

 4 Agency- and GSE-backed securities 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 583.8 115.2 4

 5 Municipal securities -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 203.7 5

 6 Corporate and foreign bonds 296.5 296.2 317.1 483.1 365.9 346.0 580.4 485.1 561.5 688.7 6

 7 Depository institution loans n.e.c. 110.5 94.9 137.5 136.1 86.8 113.4 -81.6 -92.5 -52.6 51.2 7

 8 Other loans and advances 37.6 56.7 93.9 149.8 129.2 128.1 21.3 39.7 34.6 123.4 8

 9 Mortgages 186.4 267.8 313.5 484.6 574.6 559.3 709.0 902.3 999.3 1260.5 9

 10 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues 147.3 251.8 217.4 168.9 196.9 243.2 305.6 245.3 446.6 405.7 11

 12 Corporate equities -0.1 14.3 -47.7 -110.6 5.6 5.6 100.9 64.4 158.5 109.4 12

 13 Nonfinancial -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 13

 Foreign shares purchased by

 14 U.S. residents 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 14

 15 Financial -7.2 -21.3 -27.9 3.5 1.7 17.1 39.9 71.5 66.0 118.1 15

 16 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 16

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

Billions of dollars

 Net flows through credit markets

 1 (from table F.4, line 1) 1143.5 1293.8 1410.0 2047.0 2075.2 1697.6 1947.7 2304.3 2686.6 3028.6 1

 2 U.S. official reserve assets 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 2

 3 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 3

 4 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 4

 5 Foreign deposits 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 43.8 154.2 5

 6 Net interbank transactions -10.7 -25.0 -7.0 -5.6 16.7 -49.3 -32.0 15.0 4.7 -11.5 6

 7 Checkable deposits and currency -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 7

 8 Small time and savings deposits 112.5 123.8 129.5 189.3 83.8 231.0 314.6 325.4 307.4 281.6 8

 9 Large time deposits 61.5 102.5 121.9 27.7 130.9 151.6 39.2 21.2 60.9 248.4 9

 10 Money market fund shares 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 10

 11 Security repurchase agreements 194.4 81.0 243.5 -4.3 62.2 229.2 195.5 291.4 256.4 509.4 11

 12 Corporate equities -0.1 14.3 -47.7 -110.6 5.6 5.6 100.9 64.4 158.5 109.4 12

 13 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 13

 14 Trade payables 117.8 116.2 125.8 109.0 257.3 394.4 -82.0 91.1 17.5 189.9 14

 15 Security credit 33.7 63.3 69.8 91.3 134.8 118.0 -2.2 -114.5 119.8 197.3 15

 16 Life insurance reserves 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 16

 17 Pension entitlements 340.3 312.8 392.0 485.7 379.3 468.4 497.1 515.3 531.7 638.0 17

 18 Taxes payable 8.6 16.0 21.7 13.2 20.2 28.9 11.8 9.4 -1.9 20.5 18

 19 Noncorporate proprietors’ equity 17.9 -4.0 -20.3 -38.4 -69.6 -21.4 -22.2 -73.5 51.9 68.2 19

 20 Miscellaneous 402.8 535.7 413.4 728.8 860.2 1000.9 565.5 578.0 850.3 1423.6 20

 21 Total financial sources 2932.0 3304.4 3660.8 4490.8 5116.5 5272.5 4677.4 4503.8 5528.3 7596.0 21

 - Liabilities not identified as assets:

 22 Treasury currency -0.3 -0.4 -0.1 -0.2 -0.7 -1.2 -0.1 -0.6 -0.3 -0.3 22

 23 Foreign deposits 25.0 59.4 106.2 -5.7 34.0 83.2 -15.8 21.5 60.3 128.9 23

 24 Net interbank liabilities -5.3 2.6 -21.9 -2.6 -10.6 18.4 -5.1 -1.2 -6.5 21.3 24

 25 Security repurchase agreements -12.8 -23.5 52.8 0.6 -72.9 186.1 4.3 101.1 104.4 10.9 25

 26 Taxes payable 15.6 14.0 27.8 17.5 9.1 40.3 18.6 10.7 -37.1 -15.7 26

 27 Miscellaneous -203.3 -181.3 -316.7 -230.0 -156.4 -358.2 -219.2 9.6 77.8 -176.2 27

 - Floats not included in assets:

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

 29 Federal govt. -6.0 0.5 -2.7 2.6 -7.4 9.0 -40.0 -1.6 -8.9 27.9 29

 30 Private domestic -3.8 -4.0 -3.9 -3.1 -0.8 -0.3 -0.5 -0.7 -0.0 -9.7 30

 31 Trade credit -0.8 -22.6 -24.9 -14.2 15.8 5.4 1.2 156.2 30.8 2.9 31

 Totals identified to sectors

 32 as assets 3123.9 3459.8 3844.3 4725.9 5306.4 5289.8 4934.0 4208.7 5307.8 7606.0 32
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4 Historical Annuals, 1995-2004, September 18, 2014

L.1 Credit Market Debt Outstanding (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total credit market debt owed by: 18648.1 19943.0 21333.8 23385.5 25438.9 27150.7 29210.4 31567.5 34317.1 38122.1 1

 2 Domestic nonfinancial sectors 13790.6 14472.1 15232.0 16216.4 17258.0 18114.1 19203.7 20572.8 22214.8 24937.5 2

 3 Household sector 4844.5 5182.3 5489.2 5901.4 6375.3 6959.5 7625.7 8437.9 9472.5 10544.3 3

 4 Nonfinancial corporate business 3087.9 3236.8 3514.0 3893.0 4300.9 4659.3 4819.4 4822.4 4839.3 4993.8 4

 5 Nonfinancial noncorporate business 1174.6 1245.1 1347.0 1526.0 1719.8 1912.3 2075.7 2227.6 2301.5 2556.2 5

 6 State and local governments 1046.7 1026.2 1076.9 1143.8 1181.0 1197.9 1303.4 1447.9 1568.4 2448.2 6

 7 Federal government 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 7

 8 Rest of the world 631.3 721.4 802.2 842.9 804.4 868.2 849.9 956.3 1157.1 1285.7 8

 9 Financial sectors 4226.3 4749.5 5299.7 6326.2 7376.5 8168.4 9156.8 10038.4 10945.2 11898.8 9

 10 U.S.-chartered depository institutions 192.7 228.5 274.3 368.9 474.4 531.0 557.7 559.9 592.4 673.6 10

 11 Foreign banking offices in U.S. 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 11

 12 Credit unions 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 12

 13 Life insurance companies 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 13

 14 Government-sponsored enterprises 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 14

 15 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 15

 16 ABS issuers 666.4 781.0 918.3 1176.4 1330.3 1503.5 1758.6 1987.3 2223.6 2663.0 16

 17 Finance companies 500.4 555.1 584.4 645.3 720.9 807.1 818.0 884.2 995.3 1129.6 17

 18 REITs 44.6 56.5 96.1 158.8 164.8 167.6 171.4 198.4 230.7 340.1 18

 19 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 19

 20 Holding companies 155.3 168.0 186.3 221.2 260.4 288.2 305.5 325.1 376.0 431.7 20

 21 Funding corporations 248.6 312.4 372.6 412.6 504.2 502.6 531.9 521.2 518.1 515.1 21

 22 Total credit market assets held by: 18648.1 19943.0 21333.8 23385.5 25438.9 27150.7 29210.4 31567.5 34317.1 38122.1 22

 23 Domestic nonfinancial sectors 3545.6 3641.5 3579.3 3714.9 3940.0 3923.0 3811.8 3921.2 4105.8 5140.1 23

 24 Household sector 2381.4 2513.3 2444.1 2468.3 2581.5 2458.4 2246.9 2236.9 2397.9 3275.8 24

 25 Nonfinancial corporate business 280.4 270.2 263.0 246.0 221.8 248.3 243.6 269.5 266.8 298.0 25

 26 Nonfinancial noncorporate business 47.6 51.6 54.2 67.1 64.0 66.0 73.1 72.4 73.9 85.4 26

 27 State and local governments 638.6 604.8 605.0 714.6 816.5 887.3 981.2 1067.4 1094.7 1206.0 27

 28 Federal government 197.6 201.6 213.1 218.8 256.3 263.1 267.0 275.0 272.6 274.8 28

 29 Rest of the world 1464.8 1795.6 2035.6 2202.0 2196.8 2451.9 2850.7 3323.6 3797.4 4580.9 29

 30 Financial sectors 13637.7 14505.9 15718.9 17468.7 19302.0 20775.7 22548.0 24322.7 26413.9 28401.2 30

 31 Monetary authority 380.8 393.1 431.4 452.5 478.1 511.8 551.7 629.4 666.7 717.8 31

 32 U.S.-chartered depository institutions 3961.2 4099.9 4370.4 4707.5 5109.3 5493.4 5725.3 6144.5 6655.2 7323.4 32

 33 Foreign banking offices in U.S. 457.1 520.6 565.1 549.3 524.4 548.3 545.8 541.6 516.5 537.9 33

 34 Banks in U.S.-affiliated areas 33.4 34.1 37.8 43.8 48.3 55.0 65.0 66.3 76.9 90.8 34

 35 Credit unions 263.0 288.5 305.3 324.2 351.7 379.7 421.2 465.4 516.6 556.4 35

 36 Property-casualty insurance companies 493.1 514.2 538.2 548.9 536.5 534.3 536.6 584.7 660.5 746.5 36

 37 Life insurance companies 1587.5 1657.0 1751.1 1828.0 1886.0 1943.9 2071.5 2300.3 2478.8 2643.9 37

 38 Private pension funds 606.1 598.4 642.5 633.5 737.5 614.5 577.4 570.6 642.6 642.1 38

 39 State and local govt. retirement funds 512.1 542.2 604.7 671.0 721.2 754.7 704.6 656.9 674.7 699.1 39

 40 Federal government retirement funds 14.6 26.0 27.9 30.7 33.3 35.4 44.9 58.1 65.1 70.1 40

 41 Money market mutual funds 545.5 634.3 721.9 970.8 1156.4 1325.8 1594.3 1564.8 1491.0 1346.3 41

 42 Mutual funds 771.3 820.2 901.1 1028.4 1076.8 1103.1 1229.5 1368.1 1505.1 1619.8 42

 43 Closed-end funds 94.5 97.4 96.3 101.2 110.8 105.3 108.5 117.1 152.5 163.2 43

 44 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 4.5 8.2 44

 45 Government-sponsored enterprises 762.8 833.8 934.2 1251.5 1538.8 1794.4 2099.1 2323.1 2564.1 2613.0 45

 46 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 46

 47 ABS issuers 612.0 712.2 826.5 1078.8 1253.3 1413.6 1662.6 1898.1 2125.7 2555.6 47

 48 Finance companies 654.6 697.1 720.8 812.8 946.6 1101.9 1170.7 1292.5 1468.7 1675.9 48

 49 REITs 26.0 30.4 50.6 45.5 44.1 38.9 48.0 70.2 96.6 199.1 49

 50 Brokers and dealers 183.4 167.7 182.6 189.4 154.7 223.6 316.0 344.4 424.1 394.9 50

 51 Holding companies 18.0 22.0 27.4 26.5 32.7 20.5 24.7 27.8 36.4 36.4 51

 52 Funding corporations 90.1 104.9 156.9 155.5 267.9 284.4 218.7 136.5 248.4 376.8 52

(1) Excludes corporate equities and mutual fund shares.
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Historical Annuals, 1995-2004, September 18, 2014 5

L.2 Credit Market Debt Owed by Nonfinancial Sectors

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Domestic 13790.6 14472.1 15232.0 16216.4 17258.0 18114.1 19203.7 20572.8 22214.8 24937.5 1

 2 By instrument 13790.6 14472.1 15232.0 16216.4 17258.0 18114.1 19203.7 20572.8 22214.8 24937.5 2

 3 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 3

 4 Treasury securities 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 4

 5 Agency- and GSE-backed securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 5

 6 Municipal securities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 6

 7 Corporate bonds 1486.9 1574.6 1702.1 1909.5 2116.4 2267.4 2560.8 2643.1 2716.0 2703.9 7

 8 Depository institution loans n.e.c. 882.9 932.8 1044.0 1142.5 1217.1 1318.4 1241.3 1137.5 1096.9 1113.8 8

 9 Other loans and advances 689.4 717.1 777.2 842.8 870.6 957.5 957.1 992.4 997.7 1050.6 9

 10 Mortgages 4501.0 4774.0 5072.6 5532.4 6131.9 6685.3 7392.1 8283.1 9285.3 10535.1 10

 11 Home 3445.7 3681.9 3916.5 4273.1 4698.3 5122.1 5675.1 6431.4 7255.3 8292.3 11

 12 Multifamily residential 265.9 275.6 282.6 308.7 358.3 384.6 425.3 462.5 534.6 581.2 12

 13 Commercial 717.7 742.1 795.0 867.6 988.1 1093.9 1203.1 1293.7 1412.2 1566.0 13

 14 Farm 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 14

 15 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 15

 16 By sector 13790.6 14472.1 15232.0 16216.4 17258.0 18114.1 19203.7 20572.8 22214.8 24937.5 16

 17 Household sector 4844.5 5182.3 5489.2 5901.4 6375.3 6959.5 7625.7 8437.9 9472.5 10544.3 17

 18 Nonfinancial business 4262.6 4481.9 4861.0 5419.0 6020.7 6571.6 6895.2 7050.0 7140.8 7550.0 18

 19 Corporate 3087.9 3236.8 3514.0 3893.0 4300.9 4659.3 4819.4 4822.4 4839.3 4993.8 19

 20 Noncorporate 1174.6 1245.1 1347.0 1526.0 1719.8 1912.3 2075.7 2227.6 2301.5 2556.2 20

 21 State and local governments 1046.7 1026.2 1076.9 1143.8 1181.0 1197.9 1303.4 1447.9 1568.4 2448.2 21

 22 Federal government 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 22

 Foreign credit market debt

 23 held in U.S. 631.3 721.4 802.2 842.9 804.4 868.2 849.9 956.3 1157.1 1285.7 23

 24 Commercial paper 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 276.1 345.3 24

 25 Bonds 431.9 499.6 568.2 601.6 557.9 582.4 505.5 562.1 746.5 808.6 25

 26 Depository institution loans n.e.c. 79.6 89.7 105.9 111.3 105.7 114.5 99.4 92.7 92.2 93.1 26

 27 Other loans and advances 63.6 64.7 63.0 57.2 51.6 50.4 46.6 44.3 42.3 38.7 27

 28 Domestic and foreign 14421.8 15193.5 16034.2 17059.3 18062.4 18982.3 20053.6 21529.1 23371.9 26223.3 28

L.3 Credit Market Debt Owed by Financial Sectors

Billions of dollars

 1 By instrument 4226.3 4749.5 5299.7 6326.2 7376.5 8168.4 9156.8 10038.4 10945.2 11898.8 1

 2 Open market paper 486.9 579.1 745.7 906.7 1082.9 1214.7 1097.8 997.9 934.4 956.0 2

 3 GSE issues 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 3

 4 Agency- and GSE-backed mortgage pool sec. 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 4

 5 Corporate bonds 1158.5 1300.4 1410.3 1657.1 1805.7 1983.4 2407.1 2806.2 3279.9 3963.1 5

 6 Depository institution loans n.e.c. 44.1 66.0 75.6 107.6 125.5 128.8 140.1 158.0 178.9 212.2 6

 7 Other loans and advances 135.0 162.9 198.5 288.7 395.8 438.3 463.7 470.5 501.7 575.8 7

 8 Mortgages 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 8

 9 By sector 4226.3 4749.5 5299.7 6326.2 7376.5 8168.4 9156.8 10038.4 10945.2 11898.8 9

 10 U.S.-chartered depository institutions 192.7 228.5 274.3 368.9 474.4 531.0 557.7 559.9 592.4 673.6 10

 11 Foreign banking offices in U.S. 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 11

 12 Credit unions 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 12

 13 Life insurance companies 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 13

 14 Government-sponsored enterprises 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 14

 15 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 15

 16 ABS issuers 666.4 781.0 918.3 1176.4 1330.3 1503.5 1758.6 1987.3 2223.6 2663.0 16

 17 Finance companies 500.4 555.1 584.4 645.3 720.9 807.1 818.0 884.2 995.3 1129.6 17

 18 REITs 44.6 56.5 96.1 158.8 164.8 167.6 171.4 198.4 230.7 340.1 18

 19 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 19

 20 Holding companies 155.3 168.0 186.3 221.2 260.4 288.2 305.5 325.1 376.0 431.7 20

 21 Funding corporations 248.6 312.4 372.6 412.6 504.2 502.6 531.9 521.2 518.1 515.1 21
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L.4 Credit Market Debt, All Sectors, by Instrument

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total 18648.1 19943.0 21333.8 23385.5 25438.9 27150.7 29210.4 31567.5 34317.1 38122.1 1

 2 Open market paper 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 2

 3 Treasury securities 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 3

 4 Agency- and GSE-backed securities 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5969.4 6084.5 4

 5 Municipal securities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 5

 6 Corporate and foreign bonds 3077.3 3374.6 3680.6 4168.2 4480.0 4833.2 5473.5 6011.4 6742.5 7475.6 6

 7 Depository institution loans n.e.c. 1006.6 1088.5 1225.4 1361.5 1448.3 1561.7 1480.7 1388.2 1368.0 1419.2 7

 8 Other loans and advances 888.0 944.7 1038.7 1188.7 1318.0 1446.2 1467.4 1507.1 1541.7 1665.1 8

 9 Mortgages 4525.0 4805.9 5119.4 5604.0 6210.7 6768.8 7477.8 8380.1 9391.2 10666.5 9

 10 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 8481.3 9748.1 12621.8 15354.0 19401.0 17575.0 15628.6 12438.3 16638.5 18940.1 11

 12 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 12

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

Billions of dollars

 Total credit market debt

 1 (from table L.4) 18648.1 19943.0 21333.8 23385.5 25438.9 27150.7 29210.4 31567.5 34317.1 38122.1 1

 2 U.S. official reserve assets 82.1 71.1 65.5 77.6 67.2 63.0 63.8 74.5 82.0 83.1 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 3

 4 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 4

 5 Foreign deposits 418.8 521.7 618.5 627.6 676.5 803.3 810.1 914.4 953.8 1142.2 5

 6 Net interbank liabilities 146.2 121.2 114.2 108.6 125.3 76.0 44.1 59.0 63.7 52.2 6

 7 Checkable deposits and currency 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.8 1353.0 1437.4 1522.8 7

 8 Small time and savings deposits 2297.5 2421.1 2550.6 2739.9 2823.7 3054.7 3369.3 3694.7 4002.1 4283.7 8

 9 Large time deposits 667.2 769.7 891.7 919.4 1050.2 1201.8 1241.0 1262.3 1323.1 1597.0 9

 10 Money market fund shares 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 10

 11 Security repurchase agreements 1271.4 1352.4 1595.8 1591.6 1653.7 1882.9 2212.5 2503.9 2776.3 3285.8 11

 12 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 12

 13 Security credit 251.8 315.1 384.9 476.2 611.0 729.0 726.8 612.3 732.1 929.4 13

 14 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 14

 15 Pension entitlements 6717.6 7242.2 8046.2 8878.6 9709.2 10017.3 10195.3 10340.4 11414.2 12567.1 15

 16 Trade payables 1422.3 1538.5 1664.3 1773.3 2036.2 2430.6 2348.6 2438.9 2457.3 2647.5 16

 17 Taxes payable 94.8 110.8 117.1 130.3 150.5 179.4 191.2 200.6 198.8 219.2 17

 18 Miscellaneous 5722.2 6077.8 6315.1 6888.8 7487.5 8461.3 9219.5 10146.0 10540.8 11614.3 18

 19 Total liabilities 43705.6 47288.6 51524.5 56618.1 62602.6 67311.2 71487.3 75338.1 81632.9 90697.8 19

 + Financial assets not included in

 liabilities:

 20 Gold 11.1 11.0 11.1 11.0 11.0 11.0 11.0 11.0 11.0 11.0 20

 21 Corporate equities 8481.3 9748.1 12621.8 15354.0 19401.0 17575.0 15628.6 12438.3 16638.5 18940.1 21

 22 Household equity in noncorp. bus. 3526.0 3646.2 4031.3 4274.2 4510.9 4996.4 5195.0 5525.6 6115.1 7347.1 22

 - Liabilities not identified as assets:

 23 Treasury currency -5.7 -6.1 -6.2 -6.4 -7.1 -8.5 -8.6 -9.1 -9.5 -9.7 23

 24 Foreign deposits 358.4 434.9 535.0 529.2 563.3 650.6 634.8 739.6 795.5 958.7 24

 25 Net interbank transactions -56.1 -53.5 -75.4 -78.0 -88.6 -70.1 -75.2 -76.4 -82.9 -61.6 25

 26 Security repurchase agreements -68.4 -91.9 -39.1 -38.4 -111.4 13.8 117.1 217.7 183.1 194.0 26

 27 Taxes payable 39.8 -19.4 -15.6 -1.0 11.0 26.3 34.4 35.6 30.0 40.0 27

 28 Miscellaneous -741.2 -859.7 -1107.9 -1677.4 -1963.4 -3028.0 -3394.0 -3499.0 -3136.2 -3453.5 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 29

 30 Federal govt. 3.1 -1.6 -8.1 -3.9 -9.8 -2.3 -12.3 -11.9 -18.1 10.9 30

 31 Private domestic 28.8 24.8 20.9 17.8 17.0 16.7 16.2 15.5 15.5 5.8 31

 32 Trade credit -157.4 -179.9 -204.8 -219.0 -198.7 -182.5 -166.3 2.6 31.8 38.0 32

 33 Totals identified to sectors as assets 56322.7 61446.6 69089.9 77734.4 88313.3 92477.7 95175.8 95898.3 106588.4 119273.6 33
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Historical Annuals, 1995-2004, September 18, 2014 7

F.6 Distribution of Gross Domestic Product (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross Domestic Product (GDP) 7664.1 8100.2 8608.5 9089.2 9660.6 10284.8 10621.8 10977.5 11510.7 12274.9 1

 2 Personal consumption expenditures (2) 4984.2 5268.1 5560.7 5903.0 6307.0 6792.4 7103.1 7384.1 7765.5 8260.0 2

 3 Durable goods 635.7 676.3 715.5 779.3 855.6 912.6 941.5 985.4 1017.5 1079.8 3

 4 Nondurable goods 1179.8 1241.4 1291.2 1329.4 1431.2 1540.3 1583.7 1613.2 1704.0 1820.4 4

 5 Services 3168.6 3350.4 3554.0 3794.3 4020.3 4339.5 4577.9 4785.5 5044.0 5359.8 5

 6 Gross private domestic investment 1317.5 1432.1 1595.6 1735.3 1884.2 2033.8 1928.6 1925.0 2028.0 2276.7 6

 7 Fixed investment (3) 1286.3 1401.3 1524.7 1671.6 1823.4 1979.2 1966.9 1906.5 2008.7 2212.8 7

 8 Nonresidential 962.2 1043.2 1149.1 1252.8 1361.6 1493.8 1453.9 1348.9 1371.7 1463.1 8

 9 Household sector (nonprofit organizations) 51.6 54.8 68.1 80.3 85.8 94.9 99.1 106.2 112.0 122.1 9

 10 Nonfinancial corporate business 719.8 780.5 857.9 912.7 988.1 1091.2 1052.4 938.0 956.6 1008.9 10

 11 Nonfinancial noncorporate business 92.1 98.0 107.5 120.0 133.1 148.8 148.2 148.8 146.6 155.7 11

 12 Financial institutions 98.7 109.9 115.7 139.9 154.7 158.8 154.1 155.9 156.5 176.5 12

 13 Residential 324.1 358.1 375.6 418.8 461.8 485.4 513.0 557.6 636.9 749.7 13

 14 Household sector 266.6 299.2 312.5 355.0 388.2 408.2 435.7 473.9 541.9 643.8 14

 15 Nonfinancial corporate business 0.4 -1.2 -7.3 -7.3 3.0 1.7 1.7 1.5 7.2 2.2 15

 16 Nonfinancial noncorporate business 54.3 55.7 59.0 59.7 68.7 71.7 71.6 77.6 88.1 98.1 16

 17 REITs 2.7 4.4 11.3 11.4 1.8 3.8 4.1 4.6 -0.2 5.5 17

 18 Change in private inventories 31.2 30.8 70.9 63.7 60.8 54.5 -38.3 18.5 19.3 63.9 18

 19 Nonfinancial corporate business 38.5 21.5 62.2 57.2 57.2 50.3 -34.3 18.3 17.1 50.3 19

 20 Nonfinancial noncorporate business -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 20

 21 Net U.S. exports of goods and services -89.8 -96.4 -102.0 -162.7 -256.6 -375.8 -368.7 -426.5 -503.7 -619.2 21

 22 Exports 812.8 867.6 953.8 953.0 992.0 1096.8 1026.7 1002.5 1040.3 1181.5 22

 23 - Imports 902.6 964.0 1055.8 1115.7 1248.6 1472.6 1395.4 1429.0 1543.9 1800.7 23

 Government consumption expenditures and

 24 gross investment 1452.2 1496.4 1554.2 1613.5 1726.0 1834.4 1958.8 2094.9 2220.8 2357.4 24

 25 Consumption expenditures (4) 1144.5 1176.5 1224.6 1272.1 1357.6 1444.2 1545.1 1651.4 1755.6 1868.9 25

 26 Federal 427.7 428.4 438.7 436.4 455.6 475.1 505.4 560.3 628.5 681.4 26

 27 State and local 716.8 748.1 785.9 835.7 902.0 969.1 1039.7 1091.0 1127.1 1187.6 27

 28 Gross investment (4) 307.7 320.0 329.5 341.4 368.5 390.3 413.6 443.6 465.3 488.5 28

 29 Federal 147.7 149.8 143.7 147.7 154.9 157.4 163.8 180.3 196.4 211.0 29

 30 State and local 160.0 170.2 185.8 193.7 213.6 232.9 249.8 263.3 268.9 277.5 30

 Memo:

 31 Net U.S. income receipts from rest of the world 28.8 31.8 24.1 18.2 27.1 37.0 51.8 48.6 67.1 89.1 31

 32 U.S. income receipts 229.8 246.4 280.1 286.8 321.4 382.7 325.3 315.8 356.1 451.4 32

 33 - U.S. income payments 201.1 214.6 256.0 268.5 294.3 345.7 273.5 267.2 289.0 362.3 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 7692.8 8132.0 8632.6 9107.4 9687.8 10321.8 10673.6 11026.1 11577.8 12364.1 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 35

 36 Nonfinancial corporate business 5.9 3.4 7.9 4.3 -0.8 -1.2 -0.9 -2.7 -2.1 -1.8 36

 37 State and local governments 6.6 6.0 5.8 7.6 8.6 8.6 10.1 11.2 11.4 11.3 37

 38 Federal governments -7.9 -4.8 -8.8 -6.0 -1.2 -0.6 -1.5 -0.3 -0.9 -0.8 38

 39 Rest of the world 0.2 -0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 39

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

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

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

(4) Government inventory investment is included in consumption expenditures.
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8 Historical Annuals, 1995-2004, September 18, 2014

F.7 Distribution of National Income (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 National Income 6479.5 6899.4 7380.4 7857.3 8324.4 8907.0 9184.6 9436.8 9864.2 10540.9 1

 2 Compensation of employees 4202.6 4422.1 4714.7 5077.8 5410.3 5856.6 6046.5 6141.9 6364.5 6739.5 2

 3 Wages and other labor income 3938.5 4147.3 4425.1 4770.6 5087.0 5511.4 5688.6 5775.9 5981.9 6330.8 3

 4 Employer social insurance contributions 264.1 274.8 289.6 307.2 323.3 345.2 358.0 366.0 382.5 408.7 4

 Proprietors’ income with inventory

 5 valuation and capital consumption adjustments 484.5 547.4 587.9 644.2 700.4 757.8 836.8 871.0 900.1 962.1 5

 Rental income of persons (with capital

 6 consumption adjustment) 129.2 147.0 152.0 169.9 183.1 187.7 207.5 217.3 238.0 255.4 6

 Corporate profits with inventory

 7 valuation and capital consumption adjustments 703.0 786.1 865.8 804.1 830.2 781.2 754.0 907.2 1056.4 1283.3 7

 Corporate profits with inventory

 8 valuation adjustment 667.0 741.8 811.0 743.8 762.2 730.3 698.7 795.1 959.9 1215.2 8

 9 Profits before tax 685.3 738.7 796.9 728.1 766.1 747.1 690.6 788.9 969.5 1254.6 9

 10 Domestic nonfinancial 452.0 488.9 527.1 486.4 489.6 451.2 325.3 359.5 496.3 700.2 10

 11 Domestic financial 140.3 147.9 162.2 138.9 154.6 149.7 195.0 270.7 306.5 349.4 11

 12 Rest of the world 92.9 102.0 107.6 102.8 122.0 146.2 170.4 158.8 166.6 205.0 12

 Less:

 13 Taxes on corporate income 217.8 231.5 245.4 248.4 258.8 265.1 203.3 192.3 243.8 306.1 13

 14 Domestic nonfinancial 140.3 152.9 161.4 158.7 171.4 170.2 111.2 97.1 132.9 187.0 14

 15 Domestic financial 77.5 78.5 84.1 89.7 87.4 94.9 92.1 95.2 110.9 119.1 15

 Equals:

 16 Profits after tax 467.4 507.3 551.5 479.7 507.4 482.0 487.3 596.6 725.7 948.5 16

 17 Net dividends 259.0 303.5 339.5 357.1 347.9 384.7 370.6 400.2 434.0 564.1 17

 18 Domestic nonfinancial 178.0 197.5 215.9 241.0 224.7 251.3 245.4 254.8 293.4 364.5 18

 19 Domestic financial 48.2 65.6 76.3 73.8 81.7 104.1 84.5 97.5 108.5 137.3 19

 20 Rest of the world 32.8 40.4 47.2 42.3 41.5 29.2 40.7 47.9 32.1 62.3 20

 21 Undistributed profits 208.5 203.7 212.0 122.6 159.5 97.3 116.8 196.4 291.7 384.4 21

 22 Domestic nonfinancial 133.7 138.4 149.8 86.7 93.5 29.7 -31.4 7.6 70.0 148.7 22

 23 Domestic financial 14.6 3.7 1.9 -24.6 -14.5 -49.3 18.4 78.0 87.1 93.0 23

 24 Rest of the world 60.2 61.6 60.3 60.5 80.5 116.9 129.7 110.9 134.5 142.7 24

 25 Inventory valuation adjustment -18.3 3.1 14.1 15.7 -4.0 -16.8 8.0 6.1 -9.6 -39.5 25

 26 Capital consumption adjustment 36.0 44.2 54.8 60.3 68.0 50.9 55.4 112.1 96.5 68.2 26

 27 Domestic nonfinancial 44.2 50.3 51.9 55.7 60.8 45.7 48.7 102.8 96.7 81.5 27

 28 Domestic financial -8.2 -6.1 2.9 4.6 7.2 5.2 6.7 9.3 -0.2 -13.3 28

 29 Net interest and miscellaneous payments 376.5 381.8 414.7 477.9 488.0 565.0 566.4 490.5 466.2 403.5 29

 30 Taxes on production and imports 557.9 580.8 611.6 639.5 673.6 708.6 727.7 762.6 808.0 863.9 30

 31 Less: Subsidies 34.8 35.2 33.8 36.4 45.2 45.8 58.7 41.4 49.1 46.4 31

 32 Business current transfer payments (net) 45.0 52.6 50.1 64.1 67.8 85.3 99.1 80.7 76.3 81.3 32

 33 Current surplus of government enterprises 15.6 16.9 17.5 16.3 16.2 10.7 5.2 7.0 3.9 -1.8 33

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 34 National Income, from line 1 above 6479.5 6899.4 7380.4 7857.3 8324.4 8907.0 9184.6 9436.8 9864.2 10540.9 34

 Plus:

 35 Private consumption of fixed capital 882.6 931.0 990.1 1054.9 1135.9 1236.6 1317.7 1368.0 1422.4 1509.3 35

 36 Government consumption of fixed capital 240.2 245.0 249.9 255.3 264.9 277.7 286.3 294.1 304.9 322.4 36

 37 Statistical discrepancy 90.6 56.6 12.3 -60.2 -37.5 -99.5 -115.0 -72.8 -13.6 -8.6 37

 Less:

 38 Net U.S. income receipts from rest of the world 28.8 31.8 24.1 18.2 27.1 37.0 51.8 48.6 67.1 89.1 38

 Equals:

 39 Gross Domestic Product 7664.1 8100.2 8608.5 9089.2 9660.6 10284.8 10621.8 10977.5 11510.7 12274.9 39

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

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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Historical Annuals, 1995-2004, September 18, 2014 9

F.8 Saving and Investment by Sector (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 1429.5 1581.3 1783.6 1932.4 2003.1 2119.3 2068.3 1990.4 1990.3 2147.3 1

 2 Net saving 306.8 405.3 543.6 622.1 602.3 605.0 464.3 328.4 263.1 315.6 2

 3 Net private saving 579.2 596.3 633.1 604.0 526.4 438.6 515.1 719.8 787.3 823.2 3

 4 Domestic business 226.2 251.1 280.9 198.7 223.5 131.4 180.2 314.7 378.6 413.2 4

 5 Nonfinancial corporate business 211.4 245.3 267.5 211.0 221.3 161.7 138.1 213.4 273.2 312.7 5

 6 Financial business 14.8 5.8 13.4 -12.4 2.3 -30.3 42.1 101.3 105.5 100.5 6

 7 Households and institutions 352.9 345.2 352.2 405.3 302.9 307.2 335.0 405.1 408.7 410.0 7

 8 Net government saving -272.4 -191.0 -89.5 18.1 75.9 166.4 -50.8 -391.4 -524.3 -507.6 8

 9 Federal -240.8 -178.5 -91.2 2.7 66.6 156.5 14.5 -270.5 -402.9 -399.2 9

 10 State and local -31.5 -12.5 1.7 15.4 9.2 9.9 -65.3 -120.9 -121.4 -108.4 10

 11 Consumption of fixed capital 1122.8 1176.0 1240.0 1310.3 1400.9 1514.2 1604.0 1662.1 1727.2 1831.7 11

 12 Private 882.6 931.0 990.1 1054.9 1135.9 1236.6 1317.7 1368.0 1422.4 1509.3 12

 13 Domestic business 717.8 758.4 807.9 860.4 925.0 1006.5 1067.5 1101.4 1131.6 1185.9 13

 14 Nonfinancial corporate business 523.7 557.4 598.4 638.2 683.4 741.9 785.3 804.7 818.0 850.2 14

 15 Nonfinancial noncorporate business 120.6 124.9 130.0 136.7 145.4 156.3 166.6 174.6 183.6 196.4 15

 16 Financial business 73.5 76.1 79.6 85.5 96.2 108.3 115.6 122.1 130.0 139.3 16

 17 Households and institutions 164.8 172.7 182.1 194.5 210.9 230.1 250.2 266.6 290.8 323.4 17

 18 Government 240.2 245.0 249.9 255.3 264.9 277.7 286.3 294.1 304.9 322.4 18

 19 Federal 151.9 152.4 153.0 153.6 156.8 161.5 163.3 165.0 170.3 178.6 19

 20 State and local 88.3 92.6 96.9 101.8 108.1 116.2 123.0 129.0 134.5 143.8 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 1520.1 1637.9 1795.8 1872.2 1965.6 2019.8 1953.3 1917.7 1976.7 2138.7 21

 22 Gross domestic investment 1625.2 1752.0 1925.1 2076.7 2252.7 2424.0 2342.3 2368.6 2493.2 2765.1 22

 23 Gross private domestic investment 1317.5 1432.1 1595.6 1735.3 1884.2 2033.8 1928.6 1925.0 2028.0 2276.7 23

 24 Domestic business 999.2 1078.0 1215.1 1300.0 1410.2 1530.7 1393.8 1344.9 1374.1 1510.7 24

 25 Nonfinancial corporate business 760.0 804.0 922.8 972.3 1048.4 1146.0 1023.1 959.5 977.0 1060.4 25

 26 Nonfinancial noncorporate business 140.6 164.2 176.6 187.8 207.2 225.8 216.5 229.5 240.5 273.8 26

 27 Financial business 98.7 109.9 115.7 139.9 154.7 158.8 154.1 155.9 156.5 176.5 27

 28 Households and institutions 318.2 354.0 380.5 435.3 474.0 503.1 534.9 580.1 653.9 765.9 28

 29 Gross government investment 307.7 320.0 329.5 341.4 368.5 390.3 413.6 443.6 465.3 488.5 29

 30 Federal 147.7 149.8 143.7 147.7 154.9 157.4 163.8 180.3 196.4 211.0 30

 31 State and local 160.0 170.2 185.8 193.7 213.6 232.9 249.8 263.3 268.9 277.5 31

 32 Capital account transactions (net) (2) 0.4 0.2 0.5 0.2 4.5 0.3 -12.9 0.5 2.1 -2.8 32

 33 Private 21.2 21.9 30.0 30.8 29.3 27.6 15.5 18.1 2.5 -4.7 33

 34 Domestic business 7.1 3.4 7.9 4.3 -0.4 -1.2 -7.0 -2.7 -2.2 2.7 34

 35 Nonfinancial corporate business 5.5 3.4 7.9 4.3 -1.7 -1.2 -13.4 -2.7 -2.2 -8.5 35

 36 Nonfinancial noncorporate business -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 36

 37 Financial business 1.9 0.0 0.0 0.0 1.7 0.0 7.7 0.0 0.0 16.2 37

 38 Households and institutions 14.1 18.5 22.1 26.5 29.7 28.8 22.5 20.7 4.7 -7.4 38

 39 Government -20.8 -21.7 -29.5 -30.6 -24.8 -27.3 -28.5 -17.6 -0.3 1.9 39

 40 Federal 5.0 6.1 -0.2 -2.3 6.6 8.3 13.1 24.1 40.2 38.5 40

 41 State and local -25.8 -27.8 -29.4 -28.3 -31.4 -35.6 -41.6 -41.7 -40.5 -36.6 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -105.5 -114.3 -129.8 -204.7 -291.5 -404.6 -376.0 -451.4 -518.7 -623.7 42

 43 Private 213.6 129.9 9.8 -167.4 -288.7 -485.7 -226.3 72.0 165.7 51.9 43

 44 Domestic business 28.2 -15.5 -121.8 -305.4 -298.8 -491.0 -254.1 1.1 124.7 77.1 44

 45 Nonfinancial corporate business (3) 60.2 51.8 -52.4 -187.5 -179.5 -340.7 -201.2 -11.5 102.7 102.4 45

 46 Nonfinancial noncorporate business -19.6 -39.3 -46.7 -51.1 -61.4 -69.5 -48.6 -54.9 -56.9 -72.4 46

 47 Financial business -12.3 -28.0 -22.8 -66.7 -57.9 -80.8 -4.2 67.5 78.9 47.1 47

 48 Households and institutions 185.4 145.4 131.6 138.1 10.2 5.3 27.7 70.9 41.0 -25.2 48

 49 Government -319.1 -244.3 -139.6 -37.4 -2.8 81.1 -149.7 -523.4 -684.4 -675.5 49

 50 Federal -241.6 -182.0 -81.7 10.9 62.0 152.3 0.8 -309.9 -469.1 -470.1 50

 51 State and local -77.5 -62.2 -57.9 -48.3 -64.8 -71.2 -150.5 -213.5 -215.2 -205.4 51

 52 Statistical discrepancy (line 21 less line 1) 90.6 56.6 12.3 -60.2 -37.5 -99.5 -115.0 -72.8 -13.6 -8.6 52

 Addenda:

 53 Disaster losses 2.4 0.0 0.0 0.0 3.5 0.0 19.2 0.0 0.0 29.4 53

 54 Private 2.4 0.0 0.0 0.0 3.5 0.0 17.5 0.0 0.0 29.4 54

 55 Domestic business 1.2 0.0 0.0 0.0 2.2 0.0 15.5 0.0 0.0 17.4 55

 56 Households and institutions 1.2 0.0 0.0 0.0 1.3 0.0 2.0 0.0 0.0 12.0 56

 57 Government 0.0 0.0 0.0 0.0 0.0 0.0 1.7 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 58

 59 State and local 0.0 0.0 0.0 0.0 0.0 0.0 1.7 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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10 Historical Annuals, 1995-2004, September 18, 2014

F.9 Net Capital Transfers (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Capital transfers paid, by sector 49.9 51.5 56.2 61.3 75.0 72.7 103.0 82.3 91.0 119.7 1

 2 By private business 2.0 0.0 0.0 0.0 1.8 0.0 11.6 0.0 0.0 17.3 2

 3 Financial corporations 2.0 0.0 0.0 0.0 1.8 0.0 11.6 0.0 0.0 17.3 3

 4 Disaster-related insurance benefits 2.0 0.0 0.0 0.0 1.8 0.0 11.6 0.0 0.0 17.3 4

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

 6 Nonfinancial corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

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

 8 By government 27.9 28.4 29.2 28.9 36.6 37.0 42.5 49.7 63.1 68.4 8

 9 Federal 27.9 28.4 29.2 28.9 36.6 37.0 42.5 49.7 63.1 64.0 9

 10 Investment grants to state and local govts. 27.3 28.2 28.8 28.7 32.1 36.7 42.3 45.5 46.0 46.8 10

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

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

 13 Other capital transfers paid to business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 13

 14 Other capital transfers paid to persons 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.6 14.8 16.1 14

 15 Capital transfers paid to the rest of the world (net) 0.6 0.2 0.4 0.2 4.5 0.4 0.3 0.6 2.2 0.9 15

 16 State and local 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.5 16

 17 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.5 17

 18 By persons 20.0 23.1 27.0 32.4 36.7 35.6 35.7 32.6 28.0 30.3 18

 19 Estate and gift taxes, federal 14.9 17.5 20.6 25.2 28.8 28.1 28.0 25.3 22.0 24.6 19

 20 Estate and gift taxes, state and local 5.1 5.6 6.4 7.2 7.9 7.5 7.7 7.3 6.0 5.6 20

 21 By the rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 13.2 0.0 0.0 3.7 21

 22 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 13.2 0.0 0.0 3.7 22

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

 24 Capital transfers received, by sector 49.9 51.5 56.2 61.3 75.0 72.7 103.0 82.3 91.0 119.7 24

 25 By private business 0.8 0.0 0.0 0.0 1.3 0.0 17.7 0.0 0.1 12.8 25

 26 Financial corporations 0.0 0.0 0.0 0.0 0.0 0.0 3.9 0.0 0.0 1.1 26

 27 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 3.9 0.0 0.0 1.1 27

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

 29 Nonfinancial corporations 0.4 0.0 0.0 0.0 0.9 0.0 12.5 0.0 0.1 6.7 29

 30 Disaster-related insurance benefits 0.4 0.0 0.0 0.0 0.9 0.0 12.5 0.0 0.0 6.5 30

 31 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 31

 32 Noncorporate business 0.4 0.0 0.0 0.0 0.4 0.0 1.3 0.0 0.0 5.0 32

 33 Disaster-related insurance benefits 0.4 0.0 0.0 0.0 0.4 0.0 1.3 0.0 0.0 5.0 33

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

 35 By government 47.3 51.3 55.8 61.1 68.8 72.3 79.7 78.2 73.9 77.1 35

 36 Federal 14.9 17.5 20.6 25.2 28.8 28.1 28.0 25.3 22.0 24.6 36

 37 Estate and gift taxes paid by persons 14.9 17.5 20.6 25.2 28.8 28.1 28.0 25.3 22.0 24.6 37

 38 State and local 32.4 33.8 35.2 35.9 40.0 44.2 51.7 52.9 52.0 52.4 38

 39 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.0 0.0 0.0 39

 40 Estate and gift taxes paid by persons 5.1 5.6 6.4 7.2 7.9 7.5 7.7 7.3 6.0 5.6 40

 41 Investment grants paid by federal government 27.3 28.2 28.8 28.7 32.1 36.7 42.3 45.5 46.0 46.8 41

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

 43 By persons 1.1 0.0 0.0 0.0 0.4 0.0 5.4 3.6 14.8 28.9 43

 44 Disaster-related insurance benefits 1.1 0.0 0.0 0.0 0.4 0.0 5.4 0.0 0.0 12.8 44

 45 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.6 14.8 16.1 45

 46 By the rest of the world 0.6 0.2 0.4 0.2 4.5 0.4 0.3 0.6 2.2 0.9 46

 47 Capital transfers paid by U.S. government 0.6 0.2 0.4 0.2 4.5 0.4 0.3 0.6 2.2 0.9 47

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

 Addenda: Net capital transfers paid by sector

 49 By private business (lines 2-25) 1.1 0.0 0.0 0.0 0.4 0.0 -6.1 -0.0 -0.1 4.5 49

 50 Financial corporations (lines 3-26) 1.9 0.0 0.0 0.0 1.7 0.0 7.7 0.0 0.0 16.2 50

 51 Property-casualty insurance companies (line 4) 2.0 0.0 0.0 0.0 1.8 0.0 11.6 0.0 0.0 17.3 51

 52 U.S.-chartered depository institutions -0.0 0.0 0.0 0.0 -0.0 0.0 -3.9 0.0 0.0 -1.1 52

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

 54 Other (lines 5-27) -0.0 0.0 0.0 0.0 -0.0 0.0 -3.9 0.0 0.0 -1.1 54

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

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

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

 58 Nonfinancial corporations (lines 6-29) -0.4 0.0 0.0 0.0 -0.9 0.0 -12.5 -0.0 -0.1 -6.7 58

 59 Noncorporate business (lines 7-32) -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 59

 60 By government (lines 8-35) -19.4 -22.9 -26.6 -32.1 -32.2 -35.3 -37.1 -28.5 -10.8 -8.6 60

 61 Federal (lines 9-36) 13.0 10.9 8.7 3.8 7.8 8.9 14.6 24.4 41.1 39.3 61

 62 State and local (lines 16-38) -32.4 -33.8 -35.2 -35.9 -40.0 -44.2 -51.7 -52.9 -52.0 -48.0 62

 63 By persons (lines 18-43) 18.9 23.1 27.0 32.4 36.3 35.6 30.3 29.1 13.1 1.4 63

 64 By the rest of the world (lines 21-46) -0.6 -0.2 -0.4 -0.2 -4.5 -0.4 12.9 -0.6 -2.2 2.8 64

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

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 653.4 703.6 678.2 949.2 840.5 596.9 755.6 765.8 1058.9 1580.8 1

 2 Foreign deposits 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.9 8.9 2

 3 Checkable deposits and currency -36.3 -22.5 -18.6 30.9 -14.7 -95.0 75.5 -13.2 -25.1 48.7 3

 4 Time and savings deposits 132.0 145.2 153.5 127.4 147.9 354.5 290.3 321.2 344.0 441.2 4

 5 Money market fund shares 101.2 30.7 74.1 105.8 110.2 176.5 173.3 -30.3 -111.6 -53.2 5

 6 Securities -24.5 68.3 -115.4 -85.5 -35.7 -644.3 -557.3 -145.4 84.9 21.3 6

 7 Open market paper 2.0 4.1 1.3 3.0 4.7 12.4 -9.2 -5.9 -4.9 6.4 7

 8 Treasury securities -10.3 -13.8 -143.1 -70.6 2.5 -210.7 -89.9 -134.6 22.6 -11.0 8

 9 Agency- and GSE-backed securities 27.6 100.9 54.2 68.4 82.7 29.4 -139.1 -137.2 132.8 133.0 9

 10 Municipal securities -59.9 -40.0 22.1 0.4 28.5 6.0 57.4 83.4 15.1 120.2 10

 11 Corporate and foreign bonds 32.9 12.5 -12.4 20.2 -102.1 76.2 -18.9 151.5 -239.5 -138.6 11

 12 Corporate equities (2) -72.2 -157.0 -221.4 -285.9 -149.6 -640.4 -490.0 -182.7 -105.1 -274.8 12

 13 Mutual fund shares 50.0 156.7 180.3 173.2 98.4 79.7 129.7 80.1 261.9 180.9 13

 14 Life insurance reserves 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 14

 15 Pension entitlements 340.3 312.8 392.0 485.7 379.3 468.4 497.1 515.3 531.7 638.0 15

 16 Miscellaneous and other assets 90.2 112.3 126.7 236.7 197.4 279.1 198.8 54.8 163.7 442.9 16

 17 Gross investment in nonfinancial assets 1038.6 1134.6 1209.4 1337.2 1467.3 1590.6 1629.5 1722.9 1837.2 2035.7 17

 18 Residential fixed investment 320.9 354.9 371.5 414.7 457.0 479.9 507.3 551.5 630.0 742.0 18

 19 Nonresidential fixed investment 143.7 152.8 175.5 200.3 218.9 243.7 247.3 255.0 258.6 277.8 19

 20 Consumer durables 586.1 622.2 658.4 721.6 794.5 869.6 886.7 924.6 954.8 1011.2 20

 21 Nonproduced nonfinancial assets -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 21

 22 Inventories -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 22

 23 Consumption of fixed capital 778.1 810.7 844.2 886.8 939.3 1011.8 1076.0 1131.3 1195.0 1282.5 23

 24 Residential fixed investment 165.4 173.6 182.6 194.1 208.9 226.4 245.5 260.4 283.4 315.7 24

 25 Nonresidential fixed investment 121.1 125.1 130.7 138.6 149.3 162.5 174.5 185.1 196.4 210.5 25

 26 Consumer durables 491.6 512.0 530.9 554.0 581.1 622.9 656.0 685.8 715.2 756.3 26

 27 Net investment in nonfinancial assets (3) 260.5 323.9 365.2 450.5 528.0 578.8 553.5 591.6 642.2 753.2 27

 28 Residential fixed investment 155.5 181.3 188.9 220.5 248.0 253.4 261.8 291.1 346.6 426.3 28

 29 Nonresidential fixed investment 22.7 27.7 44.8 61.7 69.6 81.3 72.8 69.9 62.2 67.3 29

 30 Consumer durables 94.5 110.2 127.6 167.6 213.4 246.7 230.7 238.8 239.7 254.8 30

 31 Nonproduced nonfinancial assets -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 31

 32 Inventories -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 32

 33 Net increase in liabilities 404.8 483.7 547.5 746.9 866.8 917.1 843.0 981.9 1115.1 1506.7 33

 34 Home mortgages 167.6 222.1 234.3 355.2 425.4 423.0 551.0 755.6 812.3 1017.5 34

 35 Other mortgages 14.5 27.3 35.6 103.9 94.5 106.7 89.6 88.3 130.1 142.8 35

 36 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 36

 37 Policy loans 10.5 4.5 3.2 0.1 -4.8 2.8 2.2 1.0 -0.7 1.6 37

 38 Security credit 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 38

 39 Other liabilities 61.8 108.2 167.3 169.0 164.2 200.7 88.4 80.0 33.2 146.1 39

 40 Net capital transfers paid (4) 18.6 23.1 27.0 32.4 35.9 35.6 29.0 29.1 13.1 -3.7 40

 41 Personal saving, FOF concept (FOF) 527.6 566.9 522.9 685.2 537.6 294.3 495.2 404.6 599.1 823.7 41

 42 - Net investment in consumer durables 94.5 110.2 127.6 167.6 213.4 246.7 230.7 238.8 239.7 254.8 42

 43 - Government insurance and pension fund reserves (5) 3.6 3.4 3.4 4.4 3.8 1.8 3.3 -1.7 -0.6 0.0 43

 44 = Personal saving, NIPA concept (FOF) (6) 429.5 453.2 391.9 513.2 320.4 45.9 261.3 167.5 360.0 568.9 44

 45 Personal saving, NIPA concept (NIPA) 352.9 345.2 352.2 405.3 302.9 307.2 335.0 405.1 408.7 410.0 45

 46 Difference 76.5 108.0 39.7 107.9 17.5 -261.3 -73.7 -237.6 -48.7 158.9 46

 Memo:

 47 Disposable personal income 5532.6 5829.9 6148.9 6561.3 6876.3 7400.5 7752.3 8099.2 8485.8 9002.3 47

 Personal saving as a percentage of disposable personal income:

 48 FOF concept (FOF data) (line 41) 9.5 9.7 8.5 10.4 7.8 4.0 6.4 5.0 7.1 9.1 48

 49 NIPA concept (FOF data) (line 44) 7.8 7.8 6.4 7.8 4.7 0.6 3.4 2.1 4.2 6.3 49

 50 NIPA concept (NIPA data) (line 45) 6.4 5.9 5.7 6.2 4.4 4.2 4.3 5.0 4.8 4.6 50

 51 Difference (line 46) 1.4 1.9 0.6 1.6 0.3 -3.5 -1.0 -2.9 -0.6 1.8 51

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

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

(3) Line 17 less line 23.

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

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

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

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

 is disposable personal income (line 47) less personal outlays (table F.100, line 4).
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12 Historical Annuals, 1995-2004, September 18, 2014

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 19851.6 21430.9 24278.0 27432.7 31647.9 30766.6 30131.8 28586.5 32637.9 36803.9 1

 2 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.8 61.8 2

 3 Checkable deposits and currency 706.3 683.8 665.2 696.1 681.4 586.3 661.9 648.6 648.6 697.3 3

 4 Time and savings deposits 2416.8 2561.9 2708.7 2832.7 2987.4 3319.1 3609.4 3927.1 4329.6 4783.8 4

 5 Money market fund shares 489.5 520.2 594.2 700.0 810.2 986.7 1160.0 1129.7 1018.1 964.9 5

 6 Securities 7980.7 8712.4 10368.6 12138.2 15005.5 13080.8 11470.9 9411.2 11827.8 13889.7 6

 7 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 7

 8 Treasury securities 836.7 888.5 797.1 732.1 809.5 578.3 433.9 269.9 416.9 472.7 8

 9 Agency- and GSE-backed securities 216.3 332.6 390.3 441.5 540.5 587.9 385.0 241.5 376.6 443.6 9

 10 Municipal securities 535.6 495.6 500.8 501.2 529.6 534.0 591.4 674.8 689.9 1527.2 10

 11 Corporate and foreign bonds 609.7 617.2 582.8 621.3 517.0 557.5 640.1 852.0 714.5 614.3 11

 12 Corporate equities (2) 4434.2 4712.2 6114.0 7468.4 9719.5 8096.6 6787.9 5123.3 6713.6 7406.1 12

 13 Mutual fund shares 1253.0 1561.9 1874.2 2255.6 2767.2 2589.0 2501.6 2124.6 2794.1 3291.8 13

 14 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 14

 15 Pension entitlements 6717.6 7242.2 8046.2 8878.6 9709.2 10017.3 10195.3 10340.4 11414.2 12567.1 15

 16 Life insurance companies 890.6 974.0 1009.5 1155.0 1312.9 1373.1 1417.1 1482.8 1646.7 1850.5 16

 17 Private pension funds 2802.0 3056.8 3487.5 3905.2 4286.8 4326.4 4223.4 4075.9 4615.5 5029.2 17

 18 Governments 3024.9 3211.4 3549.2 3818.4 4109.6 4317.8 4554.9 4781.7 5152.0 5687.4 18

 19 Miscellaneous and other assets 951.1 1064.3 1192.9 1431.2 1629.7 1909.1 2105.7 2158.6 2333.7 2779.0 19

 20 Total liabilities 6561.3 7058.9 7605.7 8352.0 9218.4 10145.0 10988.1 11970.2 13114.8 14641.4 20

 21 Home mortgages 3438.5 3673.6 3907.9 4263.1 4686.2 5108.0 5659.0 6414.6 7236.5 8268.8 21

 22 Other mortgages 852.2 879.5 915.1 1019.0 1113.5 1220.2 1309.8 1398.0 1528.2 1671.0 22

 23 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 23

 24 Policy loans 96.9 101.4 104.6 104.7 100.0 102.8 105.0 106.0 105.2 106.8 24

 25 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 25

 26 Other liabilities 926.9 1036.1 1202.7 1371.1 1537.2 1737.6 1826.2 1906.5 1959.4 2110.7 26

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 13), life insurance reserves (line 14), and pension entitlements (line 15).
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Historical Annuals, 1995-2004, September 18, 2014 13

F.100 Households and Nonprofit Organizations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Personal income 6276.5 6661.9 7075.0 7587.7 7983.8 8632.8 8987.1 9149.5 9486.6 10048.3 1

 2 - Personal current taxes 743.9 832.0 926.2 1026.4 1107.5 1232.3 1234.8 1050.3 1000.9 1046.0 2

 3 = Disposable personal income 5532.6 5829.9 6148.9 6561.3 6876.3 7400.5 7752.3 8099.2 8485.8 9002.3 3

 4 - Personal outlays 5179.6 5484.7 5796.7 6156.0 6573.4 7093.3 7417.3 7694.1 8077.1 8592.3 4

 5 = Personal saving, NIPA (2) 352.9 345.2 352.2 405.3 302.9 307.2 335.0 405.1 408.7 410.0 5

 6 + Government insurance and pension reserves (3) 3.6 3.4 3.4 4.4 3.8 1.8 3.3 -1.7 -0.6 0.0 6

 7 + Net investment in consumer durables 94.5 110.2 127.6 167.6 213.4 246.7 230.7 238.8 239.7 254.8 7

 8 + Consumption of fixed capital 654.8 683.0 711.2 746.6 789.9 850.6 903.7 949.9 1003.4 1077.1 8

 9 - Net capital transfers paid (4) 18.9 23.1 27.0 32.4 36.3 35.6 30.3 29.1 13.1 1.4 9

 10 = Gross saving less net capital transfers paid 1087.0 1118.7 1167.4 1291.5 1273.7 1370.6 1442.2 1563.0 1638.1 1740.5 10

 11 Gross investment 1163.5 1226.7 1207.1 1399.4 1291.2 1109.3 1368.5 1325.4 1589.4 1899.4 11

 12 Capital expenditures 899.6 971.6 1034.2 1151.0 1261.9 1365.9 1413.7 1496.4 1600.2 1768.4 12

 13 Residential 266.6 299.2 312.5 355.0 388.2 408.2 435.7 473.9 541.9 643.8 13

 14 Consumer durable goods 586.1 622.2 658.4 721.6 794.5 869.6 886.7 924.6 954.8 1011.2 14

 15 Nonprofit nonresidential 51.6 54.8 68.1 80.3 85.8 94.9 99.1 106.2 112.0 122.1 15

 16 Nonproduced nonfinancial assets -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 16

 17 Net lending (+) or net borrowing (-) 264.0 255.1 172.9 248.4 29.4 -256.6 -45.2 -171.0 -10.9 131.1 17

 18 Net acquisition of financial assets 595.6 604.5 525.8 689.5 584.6 329.0 579.9 613.1 1033.7 1282.4 18

 19 Foreign deposits 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.9 8.9 19

 20 Checkable deposits and currency -49.9 -41.7 -40.9 24.8 -19.8 -103.5 74.7 -15.9 -31.2 -58.2 20

 21 Time and savings deposits 127.7 141.6 142.8 86.7 94.9 286.5 283.1 306.7 299.3 454.4 21

 22 Money market fund shares 99.3 28.5 70.4 96.1 102.0 167.9 163.7 -32.7 -113.9 -56.2 22

 23 Credit market instruments -15.4 55.7 -85.5 17.5 24.1 -83.2 -194.7 -34.6 -67.9 121.5 23

 24 Open market paper 2.0 4.1 1.3 3.0 4.7 12.4 -9.2 -5.9 -4.9 6.4 24

 25 Treasury securities -10.3 -13.8 -143.1 -70.6 2.5 -210.7 -89.9 -134.6 22.6 -11.0 25

 26 Agency- and GSE-backed securities 27.6 100.9 54.2 68.4 82.7 29.4 -139.1 -137.2 132.8 133.0 26

 27 Municipal securities -60.5 -40.5 21.5 0.8 28.6 6.2 56.4 83.6 15.8 118.5 27

 28 Corporate and foreign bonds 32.9 12.5 -12.4 20.2 -102.1 76.2 -18.9 151.5 -239.5 -138.6 28

 29 Other loans and advances (5) 0.1 -0.1 0.1 -0.0 0.4 1.3 0.7 0.2 0.3 2.8 29

 30 Mortgages -7.2 -7.5 -7.1 -4.3 7.3 1.9 5.3 7.9 5.1 10.4 30

 31 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Corporate equities (6) -72.2 -157.0 -221.4 -285.9 -149.6 -640.4 -490.0 -182.7 -105.1 -274.8 32

 33 Mutual fund shares 50.0 156.7 180.3 173.2 98.4 79.7 129.7 80.1 261.9 180.9 33

 34 Security credit 29.6 44.5 29.9 72.5 57.3 111.1 41.4 -60.3 79.2 114.1 34

 35 Life insurance reserves 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 35

 36 Pension entitlements (7) 340.3 312.8 392.0 485.7 379.3 468.4 497.1 515.3 531.7 638.0 36

 37 Equity in noncorporate business 17.9 -4.0 -20.3 -38.4 -69.6 -21.4 -22.2 -73.5 51.9 68.2 37

 38 Miscellaneous assets 17.6 10.6 12.7 9.2 11.4 6.1 19.0 47.1 56.4 52.5 38

 39 Net increase in liabilities 331.6 349.4 352.8 441.2 555.3 585.6 625.1 784.0 1044.6 1151.3 39

 40 Credit market instruments 319.5 324.8 306.9 412.2 473.8 574.4 666.1 812.2 1004.5 1051.8 40

 41 Home mortgages (8) 153.6 205.1 215.9 301.5 379.2 383.5 508.2 706.1 872.0 934.7 41

 42 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 42

 43 Municipal securities 0.2 6.1 7.1 11.8 10.4 5.8 13.8 12.6 13.8 14.7 43

 44 Depository institution loans n.e.c. (9) 18.5 -10.1 9.8 -7.6 -25.9 -4.4 -16.1 -24.0 8.0 -20.0 44

 45 Other loans and advances 0.7 13.9 0.7 -0.4 -4.8 1.3 0.9 0.2 -1.5 0.3 45

 46 Commercial mortgages -0.6 4.1 3.1 9.9 2.5 11.6 8.8 12.2 6.3 5.0 46

 47 Security credit 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 47

 48 Trade payables 7.9 8.0 8.9 8.7 4.1 3.8 -1.9 19.1 4.8 16.5 48

 49 Deferred and unpaid life insurance premiums 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 49

 50 Discrepancy -76.5 -108.0 -39.7 -107.9 -17.5 261.3 73.7 237.6 48.7 -158.9 50

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

 outstandings of nonprofit organizations.

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

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

(4) Table F.9, line 63.

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

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

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

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

(9) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.108, line 21.
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14 Historical Annuals, 1995-2004, September 18, 2014

F.101 Nonfinancial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Income before taxes 997.1 1100.5 1182.1 1199.2 1257.9 1275.8 1234.8 1301.5 1469.0 1737.4 1

 2 Gross saving less net capital transfers paid 858.7 929.8 998.8 987.9 1053.3 1063.1 1109.6 1197.9 1281.3 1376.9 2

 3 Gross investment 921.0 981.5 1033.6 1057.5 1173.7 1268.8 1270.3 1187.0 1242.9 1435.0 3

 4 Capital expenditures 903.8 967.1 1095.9 1153.1 1252.9 1366.8 1234.7 1181.7 1215.7 1326.9 4

 5 Fixed investment 866.7 932.9 1017.1 1085.0 1192.9 1313.4 1273.8 1165.9 1198.5 1264.8 5

 6 Residential 54.7 54.4 51.8 52.4 71.7 73.4 73.2 79.1 95.3 100.3 6

 7 Nonresidential 811.9 878.5 965.3 1032.7 1121.2 1240.0 1200.6 1086.8 1103.2 1164.5 7

 8 Change in inventories 31.2 30.8 70.9 63.7 60.8 54.5 -38.3 18.5 19.3 63.9 8

 9 Nonproduced nonfinancial assets 5.9 3.4 7.9 4.3 -0.8 -1.2 -0.9 -2.7 -2.1 -1.8 9

 10 Net lending (+) or net borrowing (-) 17.3 14.4 -62.3 -95.6 -79.2 -98.0 35.6 5.2 27.3 108.1 10

 11 Net acquisition of financial assets 501.0 544.3 396.0 791.1 1150.6 1450.6 332.5 217.3 166.6 1149.9 11

 12 Foreign deposits 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 12

 13 Checkable deposits and currency 18.1 1.5 11.0 -9.8 34.7 43.5 -53.0 -9.6 50.1 109.9 13

 14 Time and savings deposits 7.6 33.5 45.4 69.0 97.3 103.5 15.9 24.6 116.1 24.5 14

 15 Money market fund shares 24.8 36.9 27.9 52.6 43.2 25.8 109.7 8.0 -28.1 13.2 15

 16 Security repurchase agreements 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 16

 17 Credit market instruments -4.9 -6.2 -4.6 -4.0 -27.4 28.5 2.4 25.2 -1.2 42.7 17

 18 Commercial paper 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 18

 19 Treasury securities 11.6 -5.1 -16.6 2.5 -5.0 1.7 1.4 14.5 4.4 5.6 19

 20 Agency- and GSE-backed securities 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -5.7 0.1 20

 21 Municipal securities -19.3 -5.4 -3.1 -2.0 -0.9 6.7 -1.5 2.7 2.6 -1.9 21

 22 Mortgages -0.5 -4.9 24.3 -5.4 -28.2 1.7 6.5 2.3 2.3 19.4 22

 23 Consumer credit -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.7 -15.7 0.1 23

 24 Mutual fund shares 4.6 9.1 1.7 14.6 9.8 0.3 4.3 -0.2 5.8 -1.3 24

 25 Trade receivables 93.3 117.6 123.1 115.5 248.6 351.2 -119.5 -79.5 -42.9 155.5 25

 26 U.S. direct investment abroad 90.3 76.8 84.3 129.2 200.7 138.0 123.8 131.1 125.3 272.4 26

 27 Miscellaneous assets 265.1 262.8 111.6 417.1 541.1 768.8 257.7 110.4 -75.8 517.0 27

 28 Net increase in liabilities 483.7 529.9 458.3 886.6 1229.7 1548.7 296.9 212.0 139.3 1041.8 28

 29 Credit market instruments 230.2 232.3 381.2 558.1 567.3 550.8 340.6 154.8 76.7 398.3 29

 30 Commercial paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 30

 31 Municipal securities 3.1 3.1 4.2 5.8 5.1 1.4 3.5 2.9 3.3 10.6 31

 32 Corporate bonds 58.4 87.7 127.5 207.4 206.9 151.0 293.4 82.3 72.9 -12.1 32

 33 Depository institution loans n.e.c. 88.8 73.0 101.8 106.2 98.2 105.6 -61.6 -79.7 -81.0 36.9 33

 34 Other loans and advances 33.9 18.6 54.3 65.9 34.2 85.3 -1.5 34.5 6.7 52.3 34

 35 Mortgages 28.0 50.8 79.6 148.5 185.7 159.5 189.8 172.7 112.1 295.3 35

 36 Corporate equities -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 36

 37 Trade payables 94.9 81.5 97.2 88.0 213.0 354.1 -108.4 45.1 -80.9 121.4 37

 38 Taxes payable 0.5 11.9 13.6 9.0 15.9 18.6 7.1 13.4 -12.2 15.1 38

 39 Foreign direct investment in U.S. 54.8 71.8 99.5 145.0 183.8 249.5 141.3 74.8 39.9 95.8 39

 40 Miscellaneous liabilities 143.1 184.0 -34.4 339.1 430.9 515.0 -16.7 22.2 86.0 432.3 40

 41 Proprietors’ net investment 18.4 -4.3 -21.4 -37.0 -70.8 -21.2 -18.9 -74.1 55.3 72.4 41

 42 Discrepancy -62.3 -51.7 -34.8 -69.6 -120.4 -205.6 -160.6 10.9 38.4 -58.0 42

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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Historical Annuals, 1995-2004, September 18, 2014 15

F.102 Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Profits before tax (book) 452.0 488.9 527.1 486.4 489.6 451.2 325.3 359.5 496.3 700.2 1

 2 - Taxes on corporate income 140.3 152.9 161.4 158.7 171.4 170.2 111.2 97.1 132.9 187.0 2

 3 - Net dividends 178.0 197.5 215.9 241.0 224.7 251.3 245.4 254.8 293.4 364.5 3

 4 + Capital consumption allowance (1) 566.6 606.4 649.1 692.3 742.6 785.9 832.4 905.9 913.6 930.2 4

 5 = U.S. internal funds, book 700.2 744.9 798.9 779.0 836.1 815.6 801.0 913.5 983.7 1078.9 5

 6 + Foreign earnings retained abroad 52.7 54.1 52.7 53.0 70.4 103.2 114.5 96.8 115.5 120.4 6

 7 + Inventory valuation adjustment (IVA) -18.3 3.1 14.1 15.7 -4.0 -16.8 8.0 6.1 -9.6 -39.5 7

 8 - Net capital transfers paid (2) -0.4 0.0 0.0 0.0 -0.9 0.0 -12.5 -0.0 -0.1 -6.7 8

 9 = Total internal funds + IVA 735.1 802.0 865.8 847.8 903.5 902.0 936.0 1016.4 1089.7 1166.5 9

 10 Gross investment 797.4 853.8 900.6 917.4 1023.9 1107.6 1096.7 1005.5 1051.4 1224.6 10

 11 Capital expenditures 764.7 804.2 920.7 966.8 1047.4 1142.1 1019.0 955.2 978.7 1059.6 11

 12 Fixed investment (3) 720.3 779.2 850.6 905.4 991.1 1092.9 1054.1 939.5 963.7 1011.0 12

 13 Inventory change + IVA 38.5 21.5 62.2 57.2 57.2 50.3 -34.3 18.3 17.1 50.3 13

 14 Nonproduced nonfinancial assets 5.9 3.4 7.9 4.3 -0.8 -1.2 -0.9 -2.7 -2.1 -1.8 14

 15 Net lending (+) or net borrowing (-) 32.7 49.6 -20.1 -49.5 -23.5 -34.5 77.7 50.3 72.7 165.0 15

 16 Net acquisition of financial assets 424.7 449.5 265.0 568.4 965.5 1203.9 175.7 138.6 86.1 779.1 16

 17 Foreign deposits 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 17

 18 Checkable deposits and currency 4.6 -17.6 -11.3 -15.9 29.6 35.0 -53.8 -12.3 44.0 3.0 18

 19 Time and savings deposits 3.3 30.0 34.7 28.2 44.3 35.5 8.8 10.2 71.5 37.7 19

 20 Money market fund shares 22.9 34.7 24.2 42.9 35.1 17.1 100.2 5.7 -30.4 10.3 20

 21 Security repurchase agreements 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 21

 22 Credit market instruments -8.8 -10.2 -7.2 -17.0 -24.2 26.5 -4.7 25.9 -2.7 31.2 22

 23 Commercial paper 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 23

 24 Treasury securities 6.3 -10.0 -20.2 -3.2 -4.2 -1.3 -1.3 14.5 2.3 0.3 24

 25 Agency- and GSE-backed securities 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -5.7 0.1 25

 26 Municipal securities -19.9 -5.8 -3.6 -1.6 -0.7 6.9 -2.6 2.8 3.3 -3.6 26

 27 Mortgages 1.6 -3.6 25.9 -13.0 -26.0 2.3 3.1 2.9 2.2 14.8 27

 28 Consumer credit -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.7 -15.7 0.1 28

 29 Mutual fund shares 4.6 9.1 1.7 14.6 9.8 0.3 4.3 -0.2 5.8 -1.3 29

 30 Trade receivables 78.0 88.1 88.0 87.3 209.2 281.6 -121.3 -98.4 -17.7 128.8 30

 31 U.S. direct investment abroad (4) 90.3 76.8 84.3 129.2 200.7 138.0 123.8 131.1 125.3 272.4 31

 32 Miscellaneous assets 227.8 226.5 55.0 292.1 458.6 678.8 127.2 69.4 -126.9 281.0 32

 33 Insurance receivables 8.5 2.8 2.1 2.3 1.4 0.0 10.8 18.1 19.0 19.7 33

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

 35 Investment in finance co. subs. 5.9 0.6 4.9 -10.0 10.6 65.2 -17.8 6.9 2.6 2.6 35

 36 Other 213.4 223.1 47.9 299.8 446.6 613.6 134.1 44.4 -148.7 258.6 36

 37 Net increase in liabilities 392.1 399.9 285.1 617.9 989.1 1238.3 97.9 88.3 13.4 614.1 37

 38 Net funds raised in markets 126.5 114.5 201.9 163.5 263.2 240.2 129.0 -21.2 -22.7 50.1 38

 39 Net new equity issues -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 39

 40 Credit market instruments 184.9 161.9 279.3 379.1 373.5 358.4 177.1 3.0 2.8 143.5 40

 41 Commercial paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 41

 42 Municipal securities (5) 3.1 3.1 4.2 5.8 5.1 1.4 3.5 2.9 3.3 10.6 42

 43 Corporate bonds (4) 58.4 87.7 127.5 207.4 206.9 151.0 293.4 82.3 72.9 -12.1 43

 44 Depository institution loans n.e.c. 77.3 43.8 55.1 80.7 48.6 55.2 -105.1 -103.4 -91.4 4.0 44

 45 Other loans and advances (6) 28.9 17.6 50.1 60.1 28.1 77.8 2.1 31.9 7.3 51.1 45

 46 Mortgages -1.0 10.6 28.7 0.8 47.5 24.9 66.2 47.2 48.0 74.7 46

 47 Trade payables 81.2 49.7 65.3 57.7 178.5 312.6 -103.6 19.8 -54.7 97.7 47

 48 Taxes payable -0.0 9.6 9.3 4.8 7.0 7.0 3.1 11.9 -11.7 6.8 48

 49 Foreign direct investment in U.S. 54.9 71.5 99.0 144.9 183.1 249.5 141.4 74.4 40.0 96.0 49

 50 Miscellaneous liabilities 129.5 154.5 -90.4 247.0 357.3 429.1 -71.8 3.4 62.6 363.5 50

 51 Pension fund contributions payable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 51

 52 Claims of pension fund on sponsor 79.7 83.0 95.8 96.6 115.3 118.0 126.9 80.8 56.6 84.3 52

 53 Other 44.3 66.1 -194.6 137.6 260.4 330.2 -174.2 -78.9 6.2 282.3 53

 54 Discrepancy -62.3 -51.7 -34.8 -69.6 -120.4 -205.6 -160.6 10.9 38.4 -58.0 54

 Memo:

 55 Financing gap (7) 82.8 56.2 107.7 172.1 215.2 343.3 209.9 35.6 4.6 20.1 55

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

(2) Table F.9, line 58.

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

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

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

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

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
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16 Historical Annuals, 1995-2004, September 18, 2014

F.103 Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving = consumption of fixed capital 123.3 127.7 133.1 140.1 149.4 161.2 172.3 181.4 191.6 205.4 1

 2 Gross saving less net capital transfers paid (1) 123.7 127.7 133.1 140.1 149.8 161.2 173.6 181.4 191.6 210.4 2

 3 Gross investment 123.7 127.7 133.1 140.1 149.8 161.2 173.6 181.4 191.6 210.4 3

 4 Capital expenditures 139.1 163.0 175.3 186.2 205.5 224.7 215.7 226.5 237.0 267.3 4

 5 Fixed investment (2) 146.4 153.7 166.5 179.6 201.9 220.5 219.7 226.4 234.7 253.8 5

 6 Change in inventories -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 6

 7 Net lending (+) or net borrowing (-) -15.4 -35.2 -42.2 -46.1 -55.6 -63.6 -42.1 -45.1 -45.4 -56.9 7

 8 Net acquisition of financial assets 76.2 94.7 131.0 222.6 185.0 246.8 156.9 78.6 80.5 370.8 8

 9 Checkable deposits and currency 13.5 19.2 22.4 6.1 5.1 8.4 0.8 2.7 6.1 106.9 9

 10 Time and savings deposits 4.3 3.5 10.7 40.7 53.1 68.1 7.1 14.5 44.7 -13.2 10

 11 Money market mutual funds 1.9 2.2 3.7 9.7 8.1 8.7 9.6 2.3 2.3 2.9 11

 12 Credit market instruments 3.8 4.0 2.6 12.9 -3.1 2.1 7.1 -0.8 1.5 11.5 12

 13 Treasury securities 5.3 4.9 3.7 5.7 -0.8 3.0 2.7 0.0 2.1 5.3 13

 14 Municipal securities 0.6 0.4 0.5 -0.4 -0.1 -0.3 1.1 -0.1 -0.7 1.7 14

 15 Mortgages -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 15

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

 17 Trade receivables 15.3 29.5 35.1 28.2 39.4 69.6 1.8 18.9 -25.1 26.6 17

 18 Miscellaneous assets 37.4 36.3 56.6 124.9 82.5 89.9 130.5 41.0 51.1 236.0 18

 19 Insurance receivables 2.8 1.0 0.7 3.0 1.1 -0.1 2.8 4.5 4.7 4.6 19

 20 Equity investment in GSEs (3) -0.1 0.1 -0.0 0.0 -0.0 0.0 0.5 0.1 0.6 0.0 20

 21 Other 34.7 35.2 55.9 121.9 81.4 90.0 127.3 36.5 45.8 231.4 21

 22 Net increase in liabilities 91.6 130.0 173.2 268.7 240.7 310.3 199.0 123.7 125.8 427.7 22

 23 Credit market instruments 45.3 70.4 101.9 179.0 193.8 192.4 163.5 151.9 73.9 254.7 23

 24 Depository institution loans n.e.c. 11.5 29.2 46.7 25.5 49.6 50.4 43.5 23.7 10.4 33.0 24

 25 Other loans and advances 4.9 1.1 4.2 5.8 6.1 7.4 -3.6 2.6 -0.6 1.2 25

 26 Mortgages 29.0 40.2 50.9 147.7 138.1 134.6 123.6 125.6 64.1 220.6 26

 27 Trade payables 13.8 31.8 31.9 30.3 34.5 41.5 -4.8 25.4 -26.2 23.7 27

 28 Taxes payable 0.6 2.3 4.3 4.1 8.9 11.7 4.0 1.5 -0.5 8.4 28

 29 Foreign direct investment in U.S. -0.1 0.3 0.5 0.2 0.6 -0.0 -0.0 0.4 -0.1 -0.2 29

 30 Miscellaneous liabilities 13.6 29.4 56.0 92.1 73.7 85.9 55.2 18.7 23.4 68.8 30

 31 Proprietors’ net investment 18.4 -4.3 -21.4 -37.0 -70.8 -21.2 -18.9 -74.1 55.3 72.4 31

(1) Net capital transfers paid from table F.9, line 59.

(2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 16 respectively.

(3) Equity in the Farm Credit System.
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Historical Annuals, 1995-2004, September 18, 2014 17

F.104 State and Local Governments (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 979.8 1032.6 1085.8 1148.7 1221.8 1303.1 1352.6 1388.4 1474.6 1575.1 1

 2 Personal current taxes 158.1 168.7 182.0 201.2 214.5 236.7 243.0 221.9 226.8 247.4 2

 3 Taxes on production and imports 482.4 507.9 533.8 558.8 590.2 621.3 642.4 675.8 717.8 768.7 3

 4 Taxes on corporate income 31.7 33.0 34.1 34.9 35.8 35.2 28.9 30.9 34.0 41.7 4

 5 Contributions for govt. social insurance 13.6 12.5 10.8 10.4 9.8 10.8 13.7 15.8 19.9 24.7 5

 6 Income receipts on assets 69.1 73.7 78.1 81.3 85.2 93.9 89.2 78.6 73.8 76.8 6

 7 Current transfer receipts 214.4 224.4 236.1 253.5 277.4 299.7 333.1 365.4 405.0 422.4 7

 8 Current surplus of government enterprises 10.6 12.4 10.9 8.7 9.0 5.4 2.4 0.1 -2.8 -6.7 8

 9 Current expenditures, NIPA basis 1011.4 1045.0 1084.1 1133.3 1212.6 1293.2 1417.9 1509.4 1596.0 1683.4 9

 10 Consumption expenditures 716.8 748.1 785.9 835.7 902.0 969.1 1039.7 1091.0 1127.1 1187.6 10

 11 Govt. social benefit payments to persons 217.6 224.3 227.6 235.8 252.3 271.4 305.1 333.0 353.6 385.0 11

 12 Interest payments 76.6 72.4 70.2 61.4 57.8 52.1 65.4 84.4 115.2 110.5 12

 13 Subsidies 0.3 0.3 0.4 0.4 0.4 0.5 7.7 0.9 0.1 0.4 13

 14 Net saving, NIPA basis -31.5 -12.5 1.7 15.4 9.2 9.9 -65.3 -120.9 -121.4 -108.4 14

 15 + Consumption of fixed capital 88.3 92.6 96.9 101.8 108.1 116.2 123.0 129.0 134.5 143.8 15

 16 - Net capital transfers paid (2) -32.4 -33.8 -35.2 -35.9 -40.0 -44.2 -51.7 -52.9 -52.0 -48.0 16

 17 = Gross saving less net capital transfers paid 89.1 114.0 133.8 153.1 157.4 170.3 109.4 61.0 65.1 83.4 17

 18 Gross investment 161.3 145.9 183.7 198.2 178.0 239.8 172.3 79.9 57.2 128.4 18

 19 Fixed investment 160.0 170.2 185.8 193.7 213.6 232.9 249.8 263.3 268.9 277.5 19

 20 Nonproduced nonfinancial assets 6.6 6.0 5.8 7.6 8.6 8.6 10.1 11.2 11.4 11.3 20

 21 Net lending (+) or net borrowing (-) -5.3 -30.3 -8.0 -3.1 -44.2 -1.7 -87.6 -194.6 -223.1 -160.4 21

 22 Net acq. of financial assets -9.5 28.0 98.7 145.2 97.9 75.2 100.7 75.5 45.1 172.4 22

 23 Checkable deposits and currency 3.4 -5.6 4.4 -3.9 4.0 0.1 4.0 5.1 7.0 -3.5 23

 24 Time and savings deposits 6.6 10.5 5.8 14.7 14.1 10.7 12.0 8.8 19.8 7.9 24

 25 Money market fund shares 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 4.8 12.8 25

 26 Security repurchase agreements -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 1.6 7.2 26

 27 Credit market instruments -91.4 -33.7 0.1 109.7 101.9 70.7 93.9 86.2 27.3 111.3 27

 28 Open market paper 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 -0.7 2.9 28

 29 Treasury securities -80.2 -32.8 -17.7 41.4 23.8 5.5 18.4 26.2 7.0 43.3 29

 30 Agency- and GSE-backed securities -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 11.9 37.1 30

 31 Municipal securities -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.4 1.1 31

 32 Corporate and foreign bonds 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 3.8 11.9 32

 33 Mortgages 3.3 3.8 3.7 6.1 4.4 -1.3 -0.8 -5.3 4.9 15.0 33

 34 Corporate equities 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -8.0 5.4 34

 35 Mutual fund shares -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -1.7 3.5 35

 36 Trade receivables 6.1 5.6 6.3 7.0 8.7 4.9 6.0 2.6 -1.9 8.5 36

 37 Taxes receivable 0.9 2.3 4.2 5.0 9.9 10.6 3.0 1.5 0.8 12.9 37

 38 Miscellaneous assets 54.5 1.6 72.1 -0.5 -12.9 -21.6 -15.1 -26.2 -4.7 6.5 38

 39 Net increase in liabilities -4.3 58.3 106.7 148.3 142.1 76.9 188.3 270.1 268.2 332.7 39

 40 Credit market instruments -60.8 -20.5 50.8 66.8 37.3 16.9 105.5 144.6 120.5 178.8 40

 41 Municipal securities -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 178.5 41

 42 Short-term (3) 1.2 6.3 8.3 -6.3 2.6 1.4 23.8 25.2 10.4 22.2 42

 43 Long-term -62.1 -22.0 37.3 72.9 36.3 15.1 81.5 118.7 110.1 156.3 43

 44 U.S. government loans 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 44

 45 Trade payables 17.2 18.2 19.6 20.8 22.8 25.0 27.0 28.3 28.8 30.0 45

 46 Claims of pension fund on sponsor (4) 39.3 60.6 36.4 60.7 82.0 35.0 55.8 97.3 118.9 124.0 46

 47 Discrepancy -72.2 -31.9 -49.9 -45.1 -20.6 -69.5 -62.9 -18.9 7.9 -45.1 47

(1) Data for employee retirement funds are shown in table F.118.

(2) Table F.9, line 62.

(3) Debt with original maturity of 13 months or less.

(4) Included in miscellaneous liabilities.
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18 Historical Annuals, 1995-2004, September 18, 2014

F.105 Federal Government

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 1412.9 1531.2 1661.6 1783.8 1900.7 2063.2 2026.8 1865.8 1889.9 2022.2 1

 2 Personal current taxes 585.8 663.3 744.2 825.2 893.0 995.6 991.8 828.5 774.1 798.5 2

 3 Taxes on production and imports 75.6 72.9 77.8 80.7 83.4 87.3 85.3 86.8 90.2 95.2 3

 4 Taxes on corporate income 179.3 190.6 203.0 204.2 213.0 219.4 164.7 150.5 197.8 250.3 4

 5 Taxes from the rest of the world 3.9 5.2 5.1 5.7 5.9 7.3 7.7 7.6 9.0 10.0 5

 6 Contributions for govt. social insurance 521.9 545.4 579.4 617.4 654.8 698.6 723.3 739.4 763.2 808.9 6

 7 Income receipts on assets 23.8 26.6 25.5 21.5 21.1 25.6 26.4 21.8 23.5 25.3 7

 8 Current transfer receipts 17.5 22.7 20.1 21.5 22.3 24.1 24.9 24.4 25.5 29.0 8

 9 Current surplus of government enterprises 5.0 4.5 6.6 7.6 7.2 5.3 2.8 6.9 6.7 4.9 9

 10 Current expenditures, NIPA basis 1653.7 1709.7 1752.8 1781.0 1834.1 1906.6 2012.4 2136.3 2292.8 2421.4 10

 11 Consumption expenditures 427.7 428.4 438.7 436.4 455.6 475.1 505.4 560.3 628.5 681.4 11

 12 Government social benefits 649.4 684.5 710.0 724.4 743.8 777.8 845.7 922.8 973.1 1025.5 12

 13 Other current transfer payments 189.9 201.8 205.1 218.8 237.8 254.7 279.0 310.0 349.7 362.4 13

 14 Interest payments 352.3 360.0 365.6 365.6 352.2 353.7 331.2 302.7 292.6 306.1 14

 15 Subsidies 34.5 34.9 33.4 35.9 44.8 45.3 51.1 40.5 49.0 46.0 15

 16 Net saving, NIPA basis -240.8 -178.5 -91.2 2.7 66.6 156.5 14.5 -270.5 -402.9 -399.2 16

 17 + Consumption of fixed capital 151.9 152.4 153.0 153.6 156.8 161.5 163.3 165.0 170.3 178.6 17

 18 - Insurance and pension reserves (1) 3.6 3.4 3.4 4.4 3.8 1.8 3.3 -1.7 -0.6 0.0 18

 19 - Contr. for govt. soc. insur., U.S.-affiliated areas 2.7 2.8 3.0 3.1 3.3 3.6 3.7 3.8 3.9 4.4 19

 20 - Net capital transfers paid (2) 13.0 10.9 8.7 3.8 7.8 8.9 14.6 24.4 41.1 39.3 20

 21 = Gross saving less net capital transfers paid -108.2 -43.2 46.8 145.0 208.5 303.8 156.2 -131.9 -277.0 -264.3 21

 22 Gross investment -114.1 -49.0 47.9 133.3 232.0 303.9 149.9 -161.9 -335.4 -263.9 22

 23 Fixed investment 147.7 149.8 143.7 147.7 154.9 157.4 163.8 180.3 196.4 211.0 23

 24 Nonproduced nonfinancial assets -7.9 -4.8 -8.8 -6.0 -1.2 -0.6 -1.5 -0.3 -0.9 -0.8 24

 25 Net lending (+) or net borrowing (-) -253.9 -194.0 -87.0 -8.3 78.4 147.1 -12.5 -342.0 -530.9 -474.1 25

 26 Net acq. of financial assets -29.5 7.4 -2.7 -4.4 75.0 -68.8 53.3 8.4 35.1 5.3 26

 27 U.S. official reserve assets 6.4 -2.9 2.5 6.0 -7.1 -0.7 4.6 3.4 -1.8 -3.1 27

 28 Checkable deposits and currency -0.0 11.0 -0.5 -16.7 66.2 -65.1 41.1 -17.1 9.3 -31.0 28

 29 Time and savings deposits 0.3 1.4 1.0 1.3 0.7 1.0 4.2 17.1 -25.2 -0.0 29

 30 Credit market instruments -24.7 3.9 11.3 5.6 4.3 8.1 3.9 8.0 -2.4 2.3 30

 31 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Other loans and advances -13.5 2.6 5.9 -2.4 -7.0 -2.8 -7.8 -0.5 -1.8 -3.0 33

 34 Mortgages -13.5 -7.2 -4.5 -0.8 -0.1 -0.9 -1.1 0.5 -2.5 1.6 34

 35 Consumer credit (3) 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 35

 36 Corporate equities (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Trade receivables -1.6 0.9 -3.2 1.5 4.6 5.3 7.3 -3.3 19.1 10.5 37

 38 Taxes receivable -7.9 -0.3 -10.3 -9.3 1.2 -22.0 -9.8 -2.8 34.4 23.3 38

 39 Miscellaneous assets -2.1 -6.7 -3.5 7.1 5.1 4.6 2.0 3.1 1.8 3.4 39

 40 Net increase in liabilities 224.4 201.4 84.3 3.9 -3.3 -215.9 65.8 350.4 566.0 479.4 40

 41 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 42

 43 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 43

 44 Credit market instruments 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 44

 45 U.S. savings securities 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 45

 46 Treasury bills 26.9 16.7 -62.0 -24.4 46.1 -90.2 164.4 77.5 40.0 72.4 46

 47 Other Treasury securities 111.0 127.8 85.7 -30.3 -116.9 -203.0 -175.1 175.0 349.5 289.5 47

 48 Budget agency securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 48

 49 Multifamily residential mortgages 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 Trade payables -4.5 1.1 -8.3 -7.6 0.2 5.7 3.2 1.0 71.7 15.4 50

 51 Insurance reserves 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 51

 52 Miscellaneous liabilities 80.6 54.6 67.8 62.3 68.2 74.5 65.5 89.2 96.6 100.3 52

 53 Nonmarketable securities held by pension plans (5) 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 53

 54 Claims of pension fund on sponsor 55.3 2.9 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 54

 55 Other 4.5 -3.3 0.3 -7.1 -2.9 2.0 -7.8 14.9 17.1 18.4 55

 56 Discrepancy 5.9 5.8 -1.1 11.7 -23.5 -0.1 6.3 30.1 58.5 -0.4 56

 Memo:

 57 Change in cash balance (6) -5.7 12.9 -2.2 -12.8 59.4 -55.1 5.2 -1.6 -24.8 -3.1 57

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

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

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

 the government purchased from depository institutions and finance companies.

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

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

 and foreign service retirement and disability fund.

(6) Time and savings deposits (line 29) plus checkable deposits and currency at the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
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Historical Annuals, 1995-2004, September 18, 2014 19

F.106 Rest of the World

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Foreign income from U.S. 1147.7 1228.1 1363.2 1444.3 1600.4 1883.8 1741.0 1769.2 1912.9 2259.4 1

 2 U.S. imports 902.6 964.0 1055.8 1115.7 1248.6 1472.6 1395.4 1429.0 1543.9 1800.7 2

 3 U.S. income payments to rest of world 201.1 214.6 256.0 268.5 294.3 345.7 273.5 267.2 289.0 362.3 3

 4 Current taxes and trans. payments to rest of world 44.0 49.5 51.4 60.0 57.5 65.4 72.1 73.0 80.0 96.4 4

 5 Foreign outlays to U.S. 1042.6 1114.0 1233.9 1239.8 1313.4 1479.5 1352.0 1318.3 1396.4 1633.0 5

 6 U.S. exports 812.8 867.6 953.8 953.0 992.0 1096.8 1026.7 1002.5 1040.3 1181.5 6

 7 U.S. income receipts from rest of world 229.8 246.4 280.1 286.8 321.4 382.7 325.3 315.8 356.1 451.4 7

 8 - Net capital transfers paid (1) -0.6 -0.2 -0.4 -0.2 -4.5 -0.4 12.9 -0.6 -2.2 2.8 8

 9 Gross saving less net capital transfers paid (2) 105.7 114.3 129.7 204.8 291.5 404.6 376.1 451.5 518.7 623.7 9

 10 Gross investment 50.7 118.9 151.6 86.5 173.6 321.8 367.7 406.9 327.2 452.1 10

 11 Nonproduced nonfinancial assets 0.2 -0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 11

 12 Net lending (+) or net borrowing (-) 50.4 119.0 151.7 86.5 173.5 321.8 367.6 406.9 327.2 452.1 12

 13 Net acquisition of financial assets 342.7 471.1 504.1 383.3 579.8 745.1 606.6 680.5 780.3 1227.1 13

 14 Monetary gold (3) 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

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

 16 Net interbank assets -7.4 -31.3 10.4 5.5 6.7 -41.6 -27.3 10.1 11.3 -28.6 16

 17 U.S. checkable deposits and currency 9.9 16.7 27.5 10.5 24.3 -1.2 18.8 18.3 14.6 22.4 17

 18 U.S. time deposits -2.7 -0.2 13.1 3.1 3.2 8.9 -25.5 16.0 6.0 22.8 18

 19 Money market fund shares 0.8 0.8 0.8 0.8 0.8 3.1 3.9 1.1 2.6 4.1 19

 20 Security repurchase agreements 21.0 3.2 20.0 -18.8 8.0 11.4 24.7 39.1 133.0 190.5 20

 21 Credit market instruments 246.8 379.6 259.6 168.5 140.4 242.3 322.2 442.9 518.7 810.2 21

 22 Open market paper 18.6 14.4 19.9 33.6 -6.4 9.3 -5.9 18.1 2.1 16.5 22

 23 Treasury securities 160.5 262.7 123.7 18.7 -32.3 -75.2 19.3 160.9 276.4 366.9 23

 24 Treasury bills 34.4 39.5 -43.6 -9.7 2.2 -7.8 11.5 50.7 22.0 37.0 24

 25 Other Treasury securities 126.1 223.2 167.4 28.4 -34.5 -67.4 7.8 110.2 254.4 329.9 25

 26 Agency- and GSE-backed securities 17.6 26.8 30.3 11.1 63.4 141.9 92.0 127.1 12.3 154.6 26

 27 Municipal securities 1.0 1.0 1.0 1.0 1.0 0.2 0.0 3.5 8.0 6.5 27

 28 U.S. corporate bonds (4) 49.2 70.8 67.4 105.2 137.4 168.3 218.3 123.2 220.8 259.5 28

 29 Loans to U.S. corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 29

 30 U.S. corporate equities 3.5 -3.5 53.2 27.4 104.5 199.7 134.3 62.2 17.5 46.3 30

 31 Mutual fund shares 12.3 13.8 13.1 13.8 7.1 -9.2 -16.7 -9.2 13.9 11.5 31

 32 Trade receivables 0.7 5.5 0.9 -6.5 -4.5 10.4 5.2 15.8 -1.0 2.0 32

 33 Foreign direct investment in U.S. (5) 57.8 86.5 105.6 179.0 289.4 321.3 167.0 84.4 63.8 146.0 33

 34 Net increase in liabilities 292.2 352.2 352.4 296.8 406.2 423.3 239.0 273.7 453.2 775.0 34

 35 U.S. official reserve assets 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 35

 36 U.S. private deposits 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 43.8 154.2 36

 37 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 3.9 23.6 78.3 148.2 37

 38 Credit market instruments 76.4 89.0 77.7 36.0 15.4 60.5 -21.1 53.6 17.2 99.1 38

 39 Commercial paper 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.9 69.2 39

 40 Bonds 56.9 66.6 59.6 28.8 10.4 21.3 -20.5 3.8 0.8 32.5 40

 41 Depository institution loans n.e.c. 6.6 10.1 16.3 5.4 -5.6 8.8 -15.2 -6.7 -0.5 1.0 41

 42 Other loans and advances -0.5 1.0 -1.8 -6.0 -5.7 -1.3 -3.8 -2.3 -2.0 -3.6 42

 43 Foreign corporate equities (6) 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 43

 44 Trade payables 1.1 3.3 2.8 0.0 5.2 0.7 -5.3 -0.6 2.3 -1.1 44

 45 U.S. direct investment abroad (4,5) 98.8 91.9 104.8 142.6 224.9 159.2 142.3 154.5 149.6 316.2 45

 46 Miscellaneous liabilities 5.6 5.9 0.8 0.8 6.2 -31.0 -1.7 1.0 45.6 -23.6 46

 47 U.S. equity in IBRD, etc. 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 47

 48 Nonofficial foreign currencies 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.0 0.0 48

 49 Investment by holding companies 3.8 4.1 -0.8 -0.6 4.1 -32.5 -3.3 -0.6 44.1 -25.6 49

 50 Discrepancy (FOF basis) 55.0 -4.6 -21.9 118.2 117.9 82.8 8.4 44.5 191.5 171.6 50

 Memo:

 51 Net U.S. exports, NIPA basis -89.8 -96.4 -102.0 -162.7 -256.6 -375.8 -368.7 -426.5 -503.7 -619.2 51

 52 + Net U.S. income receipts (7) 28.8 31.8 24.1 18.2 27.1 37.0 51.8 48.6 67.1 89.1 52

 53 - Current taxes and trans. payments to rest of world 44.0 49.5 51.4 60.0 57.5 65.4 72.1 73.0 80.0 96.4 53

 54 = Balance on current account, NIPAs -105.1 -114.1 -129.3 -204.5 -287.0 -404.2 -389.0 -450.9 -516.6 -626.4 54

(1) Table F.9, line 64.

(2) Line 1 minus line 5 minus line 8; equals net lending (+) or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 54 with the sign reversed minus line 8.

(3) U.S. net sales, sign reversed.

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

(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
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20 Historical Annuals, 1995-2004, September 18, 2014

F.107 Financial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid 85.8 81.3 91.8 73.1 96.9 77.1 146.7 220.7 231.5 220.3 1

 2 Gross investment 220.8 105.5 143.2 158.5 188.5 67.3 156.9 160.8 346.2 135.3 2

 3 Capital expenditures 101.4 114.3 127.0 151.3 156.5 162.7 158.2 160.5 156.3 182.1 3

 4 Fixed residential investment 2.7 4.4 11.3 11.4 1.8 3.8 4.1 4.6 -0.2 5.5 4

 5 Fixed nonresidential investment 98.7 109.9 115.7 139.9 154.7 158.8 154.1 155.9 156.5 176.5 5

 6 Net lending (+) or net borrowing (-) 119.4 -8.8 16.2 7.2 32.0 -95.4 -1.3 0.3 189.9 -46.7 6

 7 Net acqisition of financial assets 1723.7 1804.5 2322.4 2721.2 2818.5 2758.6 3261.1 2613.9 3246.9 3769.0 7

 8 U.S. official reserve assets 3.2 -3.8 -1.5 0.8 -1.7 0.9 0.3 0.3 0.3 0.3 8

 9 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 9

 10 Treasury currency 1.0 1.0 0.6 0.7 1.7 3.6 1.4 1.6 0.9 1.0 10

 11 Foreign deposits 4.0 3.4 0.1 6.9 11.0 43.5 30.7 -6.8 -37.0 0.8 11

 12 Net interbank assets 2.0 3.7 4.5 -8.6 20.6 -26.1 0.4 6.0 -0.1 -4.2 12

 13 Checkable deposits and currency -0.6 10.6 14.0 6.8 10.9 4.0 65.5 13.7 43.7 27.5 13

 14 Time and savings deposits 34.6 39.4 43.3 42.2 4.6 -28.0 64.0 -26.6 -47.8 20.5 14

 15 Money market fund shares 11.5 77.9 53.3 101.0 100.4 37.8 147.7 -1.6 -78.0 -110.3 15

 16 Federal funds and security repos 188.9 67.7 166.5 10.1 128.1 43.6 177.6 165.4 17.6 300.4 16

 17 Credit market instruments 1032.9 894.6 1229.0 1749.8 1831.8 1431.2 1720.0 1776.7 2212.0 1940.6 17

 18 Open market paper 35.3 52.4 144.0 140.4 205.8 164.5 -196.5 -130.2 -89.3 61.1 18

 19 Treasury securities 61.4 -64.4 76.8 -46.6 -60.0 -16.2 45.7 190.0 88.0 -42.3 19

 20 Agency- and GSE-backed securities 192.1 132.3 150.3 352.8 401.0 218.2 639.8 516.3 432.6 -209.6 20

 21 Municipal securities 24.8 38.8 38.2 85.2 25.4 10.3 67.6 69.6 110.7 79.5 21

 22 Corporate and foreign bonds 207.3 202.2 260.8 346.2 319.0 91.7 369.7 201.4 576.4 555.9 22

 23 Depository institution loans n.e.c. 110.5 94.9 137.5 136.1 86.8 113.4 -81.6 -92.5 -52.6 51.2 23

 24 Other loans and advances 50.9 50.2 70.6 153.3 158.5 131.8 30.0 30.0 36.9 117.4 24

 25 Mortgages 204.4 283.6 297.2 489.1 591.2 557.9 699.2 896.8 989.5 1214.1 25

 26 Consumer credit 146.2 104.5 53.7 93.3 104.1 159.5 146.2 95.4 119.8 113.3 26

 27 Corporate equities 56.4 160.2 103.7 156.6 72.4 440.1 452.5 174.6 254.2 332.6 27

 28 Mutual fund shares 84.0 58.7 88.2 91.2 84.0 165.6 87.0 108.1 8.1 101.8 28

 29 Trade receivables 20.1 9.0 23.6 5.6 -15.8 17.1 17.9 -0.7 13.4 10.6 29

 30 Security credit 4.0 18.8 39.9 18.8 77.5 6.9 -43.6 -54.2 40.6 83.2 30

 31 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 U.S. direct investment abroad 8.4 15.1 20.5 13.5 24.2 21.2 18.6 23.4 24.3 43.8 32

 33 Miscellaneous assets 271.0 448.8 537.3 525.8 471.8 601.2 521.1 434.0 794.9 1020.5 33

 34 Net increase in liabilities 1604.3 1813.3 2306.2 2714.1 2786.5 2854.0 3262.4 2613.6 3057.0 3815.8 34

 35 Net interbank liabilities -10.7 -25.0 -7.0 -5.6 16.7 -49.3 -32.0 15.0 4.7 -11.5 35

 36 Checkable deposits and currency -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 36

 37 Time and savings deposits 174.0 226.4 251.4 217.0 214.7 382.6 353.8 346.6 368.3 530.0 37

 38 Money market fund shares 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 38

 39 Federal funds and security repos 194.4 81.0 243.5 -4.3 62.2 229.2 195.5 291.4 256.4 509.4 39

 40 Credit market instruments 433.6 523.2 570.3 1026.5 1052.6 790.8 862.3 881.6 1071.5 938.8 40

 41 Open market paper 42.7 92.2 166.7 161.0 176.2 131.7 -126.9 -99.9 -63.5 21.7 41

 42 Agency- and GSE-backed securities 204.3 231.4 213.7 471.6 593.3 434.9 642.7 546.7 586.2 115.8 42

 43 Corporate and foreign bonds 181.2 141.9 130.0 246.8 148.6 173.7 307.5 399.0 487.8 668.3 43

 44 Depository institution loans n.e.c. -3.3 21.9 9.5 32.1 20.1 3.4 11.2 17.9 20.9 33.4 44

 45 Other loans and advances 3.4 27.9 35.6 90.2 107.1 42.5 25.5 6.8 31.2 74.1 45

 46 Mortgages 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 46

 47 Corporate equities -7.2 -21.3 -27.9 3.5 1.7 17.1 39.9 71.5 66.0 118.1 47

 48 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 48

 49 Trade payables 1.1 4.0 5.7 -1.0 11.9 5.1 3.3 -1.8 -9.2 7.8 49

 50 Security credit 30.1 47.5 33.0 69.7 59.6 110.8 36.6 -66.3 85.5 115.8 50

 51 Life insurance reserves 44.8 43.8 57.6 46.3 51.7 48.7 76.1 60.6 67.4 32.0 51

 52 Pension entitlements 340.3 312.8 392.0 485.7 379.3 468.4 497.1 515.3 531.7 638.0 52

 53 Taxes payable 8.1 4.1 8.1 4.3 4.3 10.3 4.7 -3.9 10.3 5.3 53

 54 Equity in noncorporate business -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 54

 55 Foreign direct investment in U.S. 3.0 14.7 6.1 34.0 105.7 71.8 25.7 9.6 23.9 50.2 55

 56 Miscellaneous liabilities 133.5 229.8 342.6 267.3 270.7 407.3 463.0 367.5 502.3 789.1 56

 57 Discrepancy -135.0 -24.2 -51.3 -85.4 -91.6 9.9 -10.3 60.0 -114.7 85.0 57

(1) Sum of financial sectors shown on tables F.108 through F.130.
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Historical Annuals, 1995-2004, September 18, 2014 21

F.108 Monetary Authority (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving -0.6 2.5 3.7 -0.4 1.9 6.6 2.4 -0.5 -1.6 2.2 1

 2 Fixed nonresidential investment 1.5 1.6 1.8 1.9 2.5 1.6 1.0 0.6 0.6 0.8 2

 3 Net acquisition of financial assets 19.8 23.3 38.8 32.9 130.0 -60.9 47.0 70.7 43.2 44.4 3

 4 U.S. official reserve assets 3.2 -3.8 -1.5 0.8 -1.7 0.9 0.3 0.3 0.3 0.3 4

 5 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency 1.0 1.0 0.6 0.7 1.7 3.6 1.4 1.6 0.9 1.0 6

 7 Federal Reserve float (2) 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 7

 8 Interbank loans (2) -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 8

 9 Discount window (3) -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 9

 10 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Security repurchase agreements 3.3 7.7 2.3 6.5 110.3 -97.3 6.9 -10.8 4.3 -10.8 11

 12 Credit market instruments 12.7 12.3 38.3 21.1 25.7 33.7 39.9 77.7 37.2 51.2 12

 13 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Treasury securities 13.7 12.7 39.8 21.4 25.8 33.7 40.0 77.7 37.3 51.2 14

 15 Treasury bills 5.7 7.5 6.5 -2.4 -18.3 2.2 3.3 44.6 18.2 18.1 15

 16 Other Treasury securities 7.9 5.2 33.4 23.8 44.1 31.5 36.6 33.1 19.1 33.0 16

 17 Agency- and GSE-backed securities -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 0.0 -0.0 0.0 17

 18 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Other agency- and GSE-baked securities -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 0.0 -0.0 0.0 19

 20 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Brokers and dealers (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (Maiden Lane) (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Funding corporations (Maiden Lane II) (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Funding corporations (Maiden Lane III) (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Funding corporations (CPFF) (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Corporate equities (11) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Miscellaneous assets -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 30

 31 Nonofficial foreign currencies (12) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 32

 33 Net increase in liabilities 19.5 22.8 38.1 32.1 129.5 -61.3 46.5 69.6 42.7 41.7 33

 34 Depository institution reserves -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 34

 35 Vault cash of depository institutions 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 35

 36 Checkable deposits and currency 16.9 23.3 29.8 39.0 108.2 -35.1 47.4 41.9 37.3 37.7 36

 37 Due to federal government -1.2 1.7 -2.3 0.5 22.3 -22.9 1.5 -2.3 1.3 0.1 37

 38 Treasury cash holdings -0.1 -0.0 -0.0 -0.1 0.0 0.3 -0.0 -0.1 -0.0 -0.1 38

 39 Treasury general deposit account -1.2 1.8 -2.3 0.6 22.3 -23.3 1.5 -2.2 1.3 0.2 39

 40 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Due to rest of the world 0.1 -0.2 0.3 -0.3 -0.1 0.1 -0.2 0.1 0.0 -0.1 41

 42 Due to government-sponsored enterprises 0.0 -0.0 0.0 0.7 -0.4 0.1 -0.6 0.4 -0.5 0.6 42

 43 Currency outside banks 18.0 21.8 31.9 38.1 86.4 -12.5 46.7 43.7 36.5 37.1 43

 44 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 4.6 5.1 44

 45 Miscellaneous liabilities 1.4 -0.0 2.1 0.6 -0.9 1.0 -2.3 1.1 0.2 4.2 45

 46 Federal Reserve Bank stock 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 46

 47 Other 1.1 -0.7 1.3 0.1 -1.4 0.4 -2.7 0.1 -0.3 1.2 47

 48 Discrepancy -2.4 0.3 1.1 -3.0 -1.0 4.6 0.9 -2.2 -2.7 -1.4 48

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table F.203.

(3) Federal Reserve loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF.

(7) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(8) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(9) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(10) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(11) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.
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22 Historical Annuals, 1995-2004, September 18, 2014

F.109 Private Depository Institutions (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid (2) 0.4 -25.3 -20.8 17.5 8.8 35.5 40.3 36.4 27.9 15.9 1

 2 Fixed nonresidential investment 21.8 26.4 29.9 34.8 35.9 35.8 36.4 36.3 40.0 49.3 2

 3 Net lending (+) or net borrowing (-) 50.4 -56.7 -47.4 5.7 -10.9 -67.6 -47.2 -71.7 38.0 -139.7 3

 4 Net acquisition of financial assets 267.6 234.4 433.7 411.9 406.5 574.3 374.1 629.5 614.4 962.5 4

 5 Vault cash 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 5

 6 Reserves at Federal Reserve -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 6

 7 Federal funds and security repos 31.8 -26.4 34.1 69.1 -57.9 82.8 25.3 23.1 30.5 25.7 7

 8 Credit market instruments 268.2 228.5 336.0 347.8 408.8 442.7 281.9 460.5 501.0 723.3 8

 9 Open market paper -1.6 0.7 -1.2 0.0 1.7 -0.5 1.2 -0.9 -0.8 0.1 9

 10 Treasury securities -23.0 -19.4 3.7 -59.8 3.4 -39.2 -20.4 41.0 5.1 -27.3 10

 11 Agency- and GSE-backed securities 48.4 24.4 74.5 86.6 44.0 15.8 94.8 149.2 121.3 9.4 11

 12 Municipal securities -4.2 1.0 2.5 8.6 6.4 3.5 7.7 2.5 11.8 8.9 12

 13 Corporate and foreign bonds -0.8 -11.8 10.3 66.1 55.6 55.2 73.7 15.6 36.2 71.2 13

 14 Depository institution loans n.e.c. 110.5 94.9 137.5 136.1 86.8 113.4 -81.6 -92.5 -52.6 51.2 14

 15 Other loans and advances -0.6 1.0 -2.8 -9.3 -3.1 -0.7 -2.9 -0.0 -0.2 -0.4 15

 16 Mortgages 82.0 95.8 113.3 114.2 196.3 232.4 180.5 307.7 308.0 552.4 16

 17 Consumer credit 57.5 41.9 -1.7 5.2 17.6 62.9 28.8 37.9 72.1 57.8 17

 18 Corporate equities 2.8 2.4 0.8 2.8 1.3 0.7 3.4 1.3 1.4 -1.4 18

 19 Mutual fund shares 0.5 0.0 0.6 0.8 1.2 2.2 9.3 1.5 -5.6 -1.9 19

 20 Security credit 0.5 3.0 3.1 -2.8 2.3 -0.3 -4.8 -6.0 6.3 1.6 20

 21 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S. direct investment abroad 1.6 3.5 3.0 2.0 2.9 10.9 1.8 3.0 6.5 8.2 22

 23 Miscellaneous assets -39.2 23.8 50.0 -0.4 25.6 62.5 55.9 140.5 73.8 212.4 23

 24 Net increase in liabilities 217.1 291.1 481.2 406.2 417.5 641.9 421.3 701.2 576.4 1102.2 24

 25 Net interbank liabilities -12.0 -24.6 -13.2 1.8 -5.5 -22.1 -33.4 9.4 4.0 -6.1 25

 26 Checkable deposits -45.8 -34.3 -21.0 -27.9 3.7 -78.4 63.1 -49.8 47.1 47.6 26

 27 Small time and savings deposits 112.5 123.8 129.5 189.3 83.8 231.0 314.6 325.4 307.4 281.6 27

 28 Large time deposits 61.5 102.5 121.9 27.7 130.9 151.6 39.2 21.2 60.9 248.4 28

 29 Federal funds and security repos 17.6 7.1 68.9 76.1 9.1 76.3 11.8 92.2 -5.5 38.4 29

 30 Credit market instruments 5.4 35.1 43.5 90.4 107.3 56.6 27.3 3.8 34.5 83.7 30

 31 Open market paper -0.8 1.0 -2.7 -9.4 -2.9 -0.7 -3.2 -0.2 -0.2 -0.3 31

 32 Corporate bonds 2.7 7.3 10.8 10.3 3.8 14.1 5.7 -0.8 6.5 12.9 32

 33 Other loans and advances 3.5 26.9 35.4 89.5 106.4 43.2 24.8 4.7 28.3 71.1 33

 34 Corporate equity issues 2.6 3.2 3.2 3.8 3.8 4.4 8.2 5.5 9.1 5.6 34

 35 Taxes payable (net) 5.1 2.0 5.3 3.1 2.0 9.7 3.8 10.0 1.7 -0.5 35

 36 Foreign direct investment in U.S. 6.6 -0.1 7.7 5.5 19.5 5.8 6.4 2.1 4.2 17.9 36

 37 Miscellaneous liabilities 63.5 76.3 135.3 36.4 62.7 206.9 -19.8 281.2 113.0 385.5 37

 38 Investment by holding companies 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 38

 39 Investment by funding corporations 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 39

 40 Other 18.0 28.9 89.7 -36.5 35.8 66.5 -58.3 196.1 85.7 133.3 40

 41 Discrepancy -71.8 5.0 -3.2 -23.0 -16.2 67.3 51.0 71.8 -50.2 106.3 41

 Memo:

 42 Consumer leases not included above (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

(1) U.S.-chartered depository institutions (F.110), foreign banking offices (F.111), banks in U.S.-affiliated areas (F.112), and credit unions (F.113).

(2) Net capital transfers paid from table F.9, line 54.

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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Historical Annuals, 1995-2004, September 18, 2014 23

F.110 U.S.-Chartered Depository Institutions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid (1) -6.9 -33.1 -27.6 10.3 0.9 26.3 30.9 25.6 16.7 4.0 1

 2 Fixed nonresidential investment 19.1 22.8 25.4 29.5 30.4 30.1 30.5 30.4 33.7 42.1 2

 3 Net acquisition of financial assets 188.9 155.2 337.0 377.7 423.8 469.7 326.7 568.2 585.2 896.1 3

 4 Vault cash 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 4

 5 Reserves at Federal Reserve -1.1 -5.4 4.5 -2.6 -2.7 -4.5 -1.8 4.4 0.7 1.2 5

 6 Federal funds and security repos 39.0 -21.8 13.4 58.0 -47.7 42.5 38.0 5.6 6.9 35.8 6

 7 Credit market instruments 174.7 138.7 271.0 338.6 401.8 384.1 232.8 419.3 476.2 648.2 7

 8 Open market paper 0.4 0.4 -0.9 -0.1 -0.1 0.2 0.0 0.0 0.0 0.0 8

 9 Treasury securities -49.1 -35.7 -9.0 -46.4 -2.0 -36.4 -28.8 27.7 10.1 -23.1 9

 10 Agency- and GSE-backed securities 28.0 6.8 59.6 70.2 32.8 11.5 94.7 135.9 107.7 7.3 10

 11 Residential mortgage pass-through securities 13.9 14.4 27.4 46.9 -19.3 7.4 59.5 101.3 37.7 91.2 11

 12 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Residential CMOs and other structured MBS -18.4 -11.5 17.5 8.9 5.0 -9.8 57.2 -9.2 26.8 -50.1 13

 14 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other 32.5 3.9 14.7 14.3 47.2 13.9 -21.9 43.7 43.3 -33.8 15

 16 Municipal securities -4.3 1.1 2.5 8.6 6.3 3.4 7.9 2.5 11.8 9.1 16

 17 Corporate and foreign bonds -4.7 -14.7 8.0 60.4 61.2 47.2 38.9 -5.2 33.5 46.6 17

 18 Private residential mortgage pass-through securities -3.6 -4.0 -7.1 -0.9 5.7 0.3 15.4 -15.9 0.3 4.2 18

 19 Private commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Private residential CMOs and other structured MBS 3.5 -3.1 0.7 20.3 6.0 7.7 2.8 8.1 30.9 4.4 20

 21 Private commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other -4.6 -7.5 14.4 41.0 49.5 39.2 20.7 2.6 2.2 38.0 22

 23 Depository institution loans n.e.c. 74.6 60.3 112.0 140.3 115.7 96.1 -62.2 -62.3 -33.2 39.6 23

 24 Other loans and advances 2.4 1.6 -0.2 -4.6 -2.5 -0.7 -2.3 0.3 -0.2 -0.5 24

 25 Mortgages 82.3 89.1 109.0 108.0 185.2 216.5 160.8 288.6 284.4 520.8 25

 26 Consumer credit 45.2 29.7 -9.9 2.1 5.1 46.4 23.7 31.7 62.0 48.3 26

 27 Corporate equities 2.8 2.4 0.8 2.8 1.3 0.7 3.4 1.3 1.4 -1.4 27

 28 Mutual fund shares 0.3 0.3 0.8 -0.4 2.3 2.5 7.8 1.7 -6.2 -0.9 28

 29 Security credit -0.3 0.3 0.6 -1.2 2.1 -2.4 -1.0 -4.1 9.0 1.0 29

 30 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 U.S. direct investment abroad 1.6 3.5 3.0 2.0 2.9 10.9 1.8 3.0 6.5 8.2 31

 32 Miscellaneous assets -30.7 32.4 43.2 -16.5 39.2 58.1 42.8 136.5 90.6 210.5 32

 33 Net increase in liabilities 180.8 194.5 381.1 394.8 388.9 536.7 386.8 616.1 530.3 1001.8 33

 34 Net interbank liabilities -8.2 -30.9 12.5 34.9 51.5 48.5 5.1 12.0 39.1 70.7 34

 35 Federal Reserve float 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 35

 36 Borrowing from Federal Reserve banks -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 36

 37 To domestic banking -2.6 -3.7 -14.5 14.0 -2.4 2.2 4.3 7.9 -4.4 13.4 37

 38 To foreign banks -6.3 -31.4 28.6 22.0 55.6 45.3 1.9 3.7 44.2 56.0 38

 39 Checkable deposits -47.9 -35.7 -26.4 -35.3 0.9 -83.7 56.2 -53.7 38.5 39.2 39

 40 Federal government -4.7 9.7 -0.9 -14.6 36.4 -33.2 -0.4 -16.4 -0.9 -3.2 40

 41 Rest of the world 1.0 3.5 4.4 -2.8 -0.5 2.4 -2.5 -0.3 4.3 9.7 41

 42 Private domestic -44.2 -48.8 -29.9 -17.9 -35.0 -52.9 59.1 -37.0 35.1 32.8 42

 43 Small time and savings deposits 100.4 111.3 111.9 169.0 72.6 217.0 257.0 294.5 276.8 265.2 43

 44 Large time deposits 54.9 54.1 76.7 49.9 74.6 116.7 -4.7 60.1 39.4 162.6 44

 45 Federal funds and security repos 15.2 -9.5 48.3 54.7 28.1 16.5 24.2 43.8 -6.5 36.7 45

 46 Credit market instruments 8.6 35.8 45.8 94.7 105.4 56.6 26.6 2.3 32.4 81.2 46

 47 Open market paper 2.3 1.7 -0.3 -4.6 -2.5 -0.6 -2.3 0.3 -0.2 -0.4 47

 48 Corporate bonds 2.7 7.3 10.8 10.3 3.8 14.1 5.7 -0.8 6.5 12.9 48

 49 Other loans and advances 3.6 26.8 35.2 89.0 104.2 43.2 23.3 2.8 26.1 68.8 49

 50 Corporate equity issues 2.6 3.2 3.2 3.8 3.8 4.4 8.2 5.5 9.1 5.6 50

 51 Taxes payable (net) 5.1 2.0 5.3 3.1 2.0 9.7 3.8 10.0 1.7 -0.5 51

 52 Miscellaneous liabilities 50.2 64.2 103.8 20.1 49.9 151.0 10.3 241.7 99.8 340.9 52

 53 Investment by holding companies 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 53

 54 Other 11.3 30.5 72.5 -41.0 25.5 56.2 -50.0 175.1 80.0 121.8 54

 55 Discrepancy -34.1 -16.6 -9.0 -2.1 -64.4 63.1 60.5 43.2 -71.9 67.6 55

 Memo:

 56 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

(1) Net capital transfers paid from table F.9, line 54.

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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24 Historical Annuals, 1995-2004, September 18, 2014

F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 1.8 1.9 2.0 2.1 2.3 2.6 2.7 2.8 2.9 3.1 1

 2 Fixed nonresidential investment 1.7 2.2 2.7 3.2 3.3 3.4 3.4 3.3 3.5 3.9 2

 3 Net acquisition of financial assets 57.1 57.6 68.7 -5.3 -34.6 67.0 -18.7 16.9 -23.8 11.4 3

 4 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserves at Federal Reserve -0.1 0.3 1.8 -1.9 0.4 -1.0 0.2 0.6 -0.4 -0.1 5

 6 Federal funds and security repos -7.4 0.3 18.7 7.8 -12.6 45.6 -11.2 18.2 23.0 -11.8 6

 7 Credit market instruments 73.1 63.6 44.5 -15.8 -25.0 23.9 -2.4 -4.3 -37.0 21.5 7

 8 Open market paper -0.4 0.5 -0.2 -0.1 0.4 -0.1 0.0 0.0 0.0 0.0 8

 9 Treasury securities 29.6 18.4 14.4 -10.3 9.7 -0.5 9.8 12.9 -7.3 -5.7 9

 10 Agency- and GSE-backed securities 14.3 12.4 12.5 5.2 4.9 0.4 -22.0 10.9 -6.3 -1.4 10

 11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds 4.0 3.0 2.2 5.2 -5.1 7.7 34.2 -1.0 0.1 24.2 12

 13 Depository institution loans n.e.c. 33.7 32.7 24.3 -5.5 -29.8 15.2 -24.6 -27.8 -22.0 4.9 13

 14 Other loans and advances -2.9 -0.6 -2.5 -4.7 -0.6 -0.0 -0.6 -0.4 -0.0 0.1 14

 15 Mortgages -5.1 -2.9 -6.1 -5.7 -4.5 1.2 0.7 1.1 -1.5 -0.6 15

 16 Corporate equities 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Security credit 0.8 2.6 2.5 -1.6 0.2 2.1 -3.8 -1.9 -2.7 0.6 17

 18 Miscellaneous assets -9.3 -9.2 1.2 6.2 2.3 -3.7 -1.4 4.2 -6.7 1.2 18

 19 Net increase in liabilities 18.7 78.2 75.7 -25.4 14.5 78.6 -25.3 39.9 -5.9 50.2 19

 20 Net interbank liabilities -2.3 5.6 -24.5 -25.1 -46.2 -72.4 -20.0 0.2 -29.6 -77.7 20

 21 To foreign banks -1.1 0.1 -18.2 -16.5 -48.9 -86.9 -29.1 6.5 -32.9 -84.6 21

 22 To domestic banks -1.3 5.5 -6.3 -8.6 2.6 14.5 9.2 -6.2 3.2 6.8 22

 23 Checkable deposits -0.1 -0.7 0.8 -0.2 0.6 -0.4 0.4 -0.7 1.1 -0.8 23

 24 Small time and savings deposits -0.7 0.1 4.4 -3.7 -1.8 -0.4 4.5 -2.3 0.8 -0.7 24

 25 Large time deposits 3.8 45.8 42.2 -27.3 52.3 30.0 30.3 -45.6 9.4 77.9 25

 26 Federal funds and security repos 2.4 16.5 20.7 21.4 -18.9 59.8 -12.4 47.9 0.3 2.6 26

 27 Acceptance liabilities -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 27

 28 Foreign direct investment in U.S. 6.6 -0.1 7.7 5.5 19.5 5.8 6.4 2.1 4.2 17.9 28

 29 Miscellaneous liabilities 12.2 11.7 26.8 8.8 9.5 56.3 -33.6 38.6 8.0 30.9 29

 30 Investment by funding corporations 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 30

 31 Other 5.5 -2.0 12.5 -3.0 7.0 10.6 -11.7 20.0 0.6 -2.2 31

 32 Discrepancy -38.3 20.3 6.3 -21.2 48.1 10.9 -7.3 22.5 17.3 38.0 32

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).
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Historical Annuals, 1995-2004, September 18, 2014 25

F.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 1

 2 Fixed nonresidential investment 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 Net acquisition of financial assets 5.8 1.5 5.5 9.1 3.4 4.6 15.9 -4.7 8.4 14.9 3

 4 Credit market instruments 4.2 0.7 3.7 6.0 4.4 6.7 10.0 1.3 10.6 13.9 4

 5 Treasury securities 0.2 -1.3 0.1 -0.7 -0.7 -1.0 -0.6 0.3 1.0 1.4 5

 6 Agency- and GSE-backed securities 1.3 0.2 2.0 3.9 3.3 4.3 2.5 3.9 4.7 4.7 6

 7 Municipal securities 0.1 -0.1 -0.0 -0.1 0.1 0.1 -0.2 0.0 0.1 -0.2 7

 8 Corporate and foreign bonds -0.1 -0.1 0.1 0.5 -0.5 0.3 0.6 -0.3 0.4 -0.2 8

 9 Depository institution loans n.e.c. 1.8 1.4 0.9 0.9 0.5 1.1 4.5 -4.3 0.3 1.8 9

 10 Home mortgages 1.0 0.6 0.1 1.1 0.6 1.0 -0.9 1.5 2.5 3.4 10

 11 Commercial mortgages -0.0 -0.1 0.5 0.4 1.2 0.8 4.2 0.2 1.6 3.1 11

 12 Miscellaneous assets 1.6 0.8 1.8 3.1 -1.0 -2.1 5.9 -6.0 -2.2 0.9 12

 13 Net increase in liabilities 5.5 1.4 5.1 9.4 3.8 3.4 16.4 -5.7 7.5 15.5 13

 14 Net interbank liabilities -0.2 0.2 0.1 -0.6 -0.3 0.5 -1.1 0.3 0.0 -1.0 14

 15 Checkable deposits 0.2 0.5 0.4 1.2 0.0 -0.1 3.1 -1.1 1.5 1.6 15

 16 Small time and savings deposits 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 16

 17 Large time deposits 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 17

 18 Miscellaneous liabilities 3.1 0.4 4.6 6.9 2.4 0.2 5.3 -1.0 3.4 11.8 18

 19 Discrepancy -0.3 -0.1 -0.5 0.2 0.3 -1.2 0.5 -1.0 -1.0 0.6 19

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

F.113 Credit Unions

Billions of dollars

 1 Gross saving 5.4 5.8 4.7 5.0 5.5 6.5 6.4 7.9 8.2 8.6 1

 2 Fixed nonresidential investment 0.9 1.3 1.6 1.9 2.1 2.2 2.3 2.4 2.7 3.2 2

 3 Net acquisition of financial assets 15.8 20.1 22.5 30.3 13.9 33.0 50.2 49.2 44.6 40.1 3

 4 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.2 -0.0 4

 5 Federal funds and security repos 0.2 -4.9 2.0 3.4 2.4 -5.3 -1.5 -0.8 0.6 1.6 5

 6 Credit market instruments 16.2 25.5 16.8 18.9 27.5 28.0 41.5 44.2 51.2 39.8 6

 7 Open market paper -1.6 -0.3 -0.1 0.2 1.5 -0.6 1.2 -0.9 -0.8 0.1 7

 8 Treasury securities -3.8 -0.9 -1.8 -2.5 -3.5 -1.4 -0.8 0.1 1.2 0.1 8

 9 Agency- and GSE-backed securities 4.9 4.9 0.4 7.3 2.9 -0.4 19.6 -1.5 15.2 -1.1 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 2.3 0.6 11

 12 Depository institution loans n.e.c. 0.4 0.4 0.2 0.4 0.4 1.0 0.7 1.9 2.3 4.9 12

 13 Home mortgages 4.0 9.1 9.9 10.4 13.8 12.8 15.7 16.3 20.9 25.7 13

 14 Consumer credit 12.3 12.2 8.2 3.0 12.5 16.5 5.1 6.2 10.1 9.5 14

 15 Mutual fund shares 0.2 -0.3 -0.2 1.2 -1.1 -0.3 1.5 -0.2 0.5 -0.9 15

 16 Miscellaneous assets -0.8 -0.2 3.8 6.8 -15.0 10.2 8.6 5.9 -8.0 -0.3 16

 17 Net increase in liabilities 12.1 17.0 19.3 27.3 10.3 23.2 43.4 50.9 44.5 34.8 17

 18 Net interbank liabilities -1.3 0.6 -1.2 -7.4 -10.5 1.2 -17.4 -3.1 -5.4 2.0 18

 19 Shares/deposits 15.4 16.3 20.3 33.6 17.7 22.4 61.1 49.5 45.3 29.5 19

 20 Checkable 2.1 1.6 4.1 6.4 2.3 5.9 3.5 5.7 6.0 7.6 20

 21 Small time and savings 11.6 12.3 13.2 23.1 12.3 13.0 48.6 35.1 28.5 15.5 21

 22 Large time 1.7 2.4 2.9 4.1 3.1 3.5 9.0 8.7 10.8 6.4 22

 23 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.7 -0.9 23

 24 Other loans and advances -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 24

 25 Miscellaneous liabilities -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 25

 26 Discrepancy 0.8 1.5 -0.1 0.1 -0.2 -5.5 -2.7 7.2 5.4 0.1 26
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26 Historical Annuals, 1995-2004, September 18, 2014

F.114 Property-Casualty Insurance Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid (1) 8.2 9.8 9.4 9.7 12.0 3.4 -1.3 18.1 41.1 43.8 1

 2 Fixed nonresidential investment 10.8 8.4 9.1 11.7 13.4 14.7 15.9 15.6 20.4 19.2 2

 3 Net acquisition of financial assets 37.0 16.2 37.1 16.5 -9.7 6.9 13.8 81.9 89.5 81.0 3

 4 Checkable deposits and currency -0.2 -0.9 0.3 -0.2 0.2 -0.6 9.4 12.8 8.6 -8.7 4

 5 Money market fund shares 2.8 -0.7 -0.1 2.6 -5.0 3.5 -3.1 5.0 -0.9 -0.9 5

 6 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 0.6 -1.2 6

 7 Credit market instruments 26.7 21.2 25.0 10.7 -12.3 -2.2 2.2 48.1 75.8 86.0 7

 8 Open market paper 4.1 -1.0 -0.1 3.7 -7.2 5.0 -6.4 3.0 -2.0 -1.4 8

 9 Treasury securities 1.7 -12.9 2.1 -19.6 -11.9 -7.1 -0.3 14.5 14.3 20.3 9

 10 Agency- and GSE-backed securities 2.3 2.8 1.7 -1.2 5.9 8.6 10.1 19.0 2.2 -3.3 10

 11 Municipal securities 7.0 14.4 2.6 16.5 -9.1 -14.9 -10.3 9.2 41.2 43.6 11

 12 Corporate and foreign bonds 12.7 18.3 18.9 11.6 10.0 6.4 8.9 2.4 20.0 26.4 12

 13 Commercial mortgages -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 13

 14 Corporate equities -0.9 -7.1 2.6 -5.4 -1.7 0.3 -0.7 -1.0 -4.0 -4.5 14

 15 Mutual fund shares 0.3 0.3 0.4 0.3 0.1 0.4 0.4 -0.1 1.3 1.0 15

 16 Trade receivables 4.4 -0.1 2.7 1.6 2.0 1.0 5.3 4.9 4.5 0.3 16

 17 U.S. direct investment abroad 3.8 3.6 6.1 6.9 7.1 4.4 -1.4 11.2 3.6 9.1 17

 18 Net increase in liabilities 21.3 8.1 -2.5 -0.2 6.1 1.6 31.6 49.9 59.6 38.5 18

 19 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.7 -0.7 1.2 -1.0 19

 20 Corporate equity issues -2.2 -4.8 -13.7 -4.7 -7.8 -4.5 0.5 6.2 4.1 -4.0 20

 21 Taxes payable (net) 0.7 0.6 0.5 -1.1 0.1 0.1 0.3 -7.4 4.7 0.5 21

 22 Foreign direct investment in U.S. 2.0 5.7 5.9 1.3 11.3 6.8 3.1 7.7 3.0 -4.8 22

 23 Miscellaneous liabilities 20.8 6.6 4.8 4.3 2.5 -0.8 26.1 44.1 46.6 47.9 23

 24 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Policy payables 20.8 6.6 4.8 4.3 2.5 -0.8 26.1 44.1 46.6 47.9 25

 26 Discrepancy -18.2 -6.7 -39.3 -18.8 14.3 -16.7 0.6 -29.5 -9.2 -17.9 26

(1) Net capital transfers paid from table F.9, line 51.
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Historical Annuals, 1995-2004, September 18, 2014 27

F.115 Life Insurance Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving -2.1 0.8 -6.9 -1.1 5.5 5.2 3.7 9.3 4.3 16.3 1

 2 Fixed nonresidential investment 9.7 7.7 8.3 10.0 10.9 11.7 11.8 11.6 12.0 13.3 2

 3 Net acquisition of financial assets 145.5 125.4 213.7 186.9 174.0 203.5 250.8 279.6 258.4 264.2 3

 4 Checkable deposits and currency -0.5 -0.9 3.8 -2.7 0.0 -0.5 31.9 -1.6 12.0 6.0 4

 5 Money market fund shares 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2.4 0.3 4.6 5

 6 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 3.4 -2.5 1.4 6

 7 Credit market instruments 100.0 69.6 104.8 76.9 53.8 57.9 127.6 228.8 178.4 165.2 7

 8 Open market paper -7.3 2.9 17.5 7.5 2.0 -4.5 -19.5 4.0 -17.8 -10.5 8

 9 Treasury securities 1.0 -14.9 1.6 -14.1 -9.3 -4.6 -0.1 31.4 -9.1 1.7 9

 10 Agency- and GSE-backed securities 8.7 1.3 -3.0 -9.6 7.0 11.0 18.1 77.4 18.0 8.2 10

 11 Municipal securities -0.9 1.5 0.1 1.7 1.7 -1.0 -0.4 1.2 6.2 4.0 11

 12 Corporate and foreign bonds 90.7 79.2 85.7 82.6 41.2 47.9 119.5 105.7 170.4 145.9 12

 13 Other loans and advances 10.4 4.6 4.3 2.0 -4.5 3.9 2.9 2.2 -0.1 3.5 13

 14 Mortgages -2.6 -5.0 -1.3 6.8 15.7 5.2 7.1 7.0 10.9 12.4 14

 15 Corporate equities 28.2 44.5 72.0 82.4 116.8 111.5 70.1 52.7 45.5 51.5 15

 16 Mutual fund shares 3.9 4.5 7.2 9.4 10.1 5.5 2.2 2.6 0.5 12.8 16

 17 U.S. direct investment abroad 0.4 0.8 1.8 0.7 1.5 1.1 1.3 2.9 0.9 1.8 17

 18 Miscellaneous assets 13.3 6.7 24.0 20.1 -8.3 28.0 16.2 -11.6 23.3 20.9 18

 19 Equity in FHLB -0.0 0.1 0.0 0.0 0.1 0.0 -0.1 0.2 0.7 0.6 19

 20 Deferred and unpaid life ins. premiums 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 20

 21 Other 12.6 5.8 23.7 21.4 -10.6 27.8 16.7 -12.7 21.7 18.8 21

 22 Net increase in liabilities 118.9 92.1 186.0 173.1 157.5 195.1 245.3 262.8 230.0 228.0 22

 23 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 12.6 0.8 -1.2 23

 24 Corporate equity issues -3.6 -8.8 -4.0 -4.7 -6.0 -0.8 -0.9 -6.5 -3.9 -17.3 24

 25 Other loans and advances -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 25

 26 Life insurance reserves 44.8 43.8 57.6 46.3 51.7 48.7 76.1 60.6 67.4 32.0 26

 27 Pension entitlements (2) 72.4 36.7 79.8 106.5 77.7 158.4 158.2 180.4 51.0 147.3 27

 28 Taxes payable (net) 1.6 0.5 1.4 1.5 0.5 -0.4 -0.4 -7.4 1.9 3.1 28

 29 Foreign direct investment in U.S. 1.8 1.0 7.0 2.7 11.7 30.1 3.4 3.7 -5.2 20.8 29

 30 Miscellaneous liabilities 1.9 17.8 44.0 20.1 21.1 -40.2 7.0 17.4 115.1 40.3 30

 31 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 -1.4 4.0 3.8 2.5 31

 32 Other reserves (3) 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 32

 33 Unallocated insurance contracts -12.1 4.8 14.1 1.7 7.0 -27.4 -17.5 -21.0 73.4 17.9 33

 34 Other 5.9 5.3 19.2 8.0 2.8 -19.7 19.4 24.2 24.0 8.4 34

 35 Discrepancy -38.4 -40.2 -42.9 -25.0 -21.8 -14.9 -13.5 -19.1 -36.1 -33.1 35

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables F.115.g and F.115.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 33.

(3) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
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28 Historical Annuals, 1995-2004, September 18, 2014

F.116 Private and Public Pension Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.0 0.0 0.4 2

 3 Net acquisition of financial assets (2) 267.9 276.0 312.2 379.1 301.5 310.0 338.9 334.9 480.7 490.4 3

 4 Checkable deposits and currency -1.7 4.0 -0.8 3.8 0.6 4.1 0.7 1.8 0.9 -0.8 4

 5 Time and savings deposits 10.1 6.7 11.1 29.4 -39.6 -23.0 -36.2 -3.9 2.6 -0.5 5

 6 Money market fund shares 7.3 12.9 15.5 2.6 13.9 5.7 -3.8 9.5 -2.3 7.1 6

 7 Security repurchase agreements 3.9 1.6 1.6 10.1 4.8 -5.6 -14.7 -5.5 -2.2 -7.0 7

 8 Credit market instruments 42.6 33.9 106.6 60.1 156.8 -87.5 -77.6 -41.3 96.7 28.9 8

 9 Open market paper 4.5 2.7 2.1 12.7 9.6 0.1 -4.3 1.7 -10.7 -8.4 9

 10 Treasury securities -13.3 11.1 10.0 -17.1 5.6 -27.8 -23.0 13.0 7.9 1.9 10

 11 Agency- and GSE-backed securities 25.0 -5.7 24.6 2.4 63.2 16.7 10.0 -6.4 84.8 8.6 11

 12 Corporate and foreign bonds 24.2 25.6 67.3 55.7 73.5 -71.8 -57.0 -49.5 12.1 34.2 12

 13 Mortgages 1.5 1.5 1.7 4.6 5.1 -3.3 -3.3 0.7 -0.8 -5.6 13

 14 Corporate equities -68.6 -69.1 -134.2 -54.8 -185.8 82.4 222.9 36.1 46.7 39.2 14

 15 Mutual fund shares 79.3 53.8 80.0 80.7 72.6 157.6 75.2 104.0 11.9 89.9 15

 16 Miscellaneous assets 195.0 232.2 232.3 247.4 278.2 176.4 172.5 234.3 326.3 333.6 16

 17 Unallocated insurance contracts (3) -12.1 4.8 14.1 1.7 7.0 -27.4 -17.5 -21.0 73.4 17.9 17

 18 Contributions receivable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 18

 19 Nonmarketable Treasury securities (4) 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 19

 20 Claims of pension fund on sponsor (5) 174.3 146.5 159.4 185.4 227.3 204.6 195.2 227.9 230.3 249.3 20

 21 Other 6.5 20.5 10.0 6.1 21.1 -2.6 -41.5 1.3 -1.9 28.5 21

 22 Pension entitlements (liabilities) (6) 268.0 276.1 312.2 379.2 301.6 310.1 339.0 334.9 480.7 490.6 22

 Memo:

 23 Household retirement assets (7) 451.2 435.1 496.2 652.5 558.1 677.5 640.4 607.9 686.9 814.8 23

 24 Defined benefit plans 224.1 223.7 234.9 241.8 251.0 255.7 274.5 290.2 311.5 315.3 24

 25 Defined contribution plans 43.8 52.3 77.3 137.3 50.5 54.3 64.4 44.7 169.2 175.1 25

 26 Individual retirement plans (IRAs) (8) 122.2 132.8 151.8 191.5 219.7 228.6 169.9 174.8 160.4 175.9 26

 27 Annuities at life insurance companies (9) 61.2 26.3 32.3 81.9 36.9 138.9 131.6 98.2 45.8 148.5 27

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

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

 and foreign service retirement and disability fund.

(5) Unfunded defined benefit pension entitlements.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(8) IRA assets are not included above. See table L.226.i for a sectoral distribution of IRA accounts.

(9) Annuities held in IRAs at life insurance companies are excluded. They are included in line 26.
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Historical Annuals, 1995-2004, September 18, 2014 29

F.117 Private Pension Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.2 2

 3 Net acquisition of financial assets (2) 89.6 91.2 97.1 154.2 72.8 101.2 105.6 85.8 196.7 195.0 3

 4 Checkable deposits and currency 0.8 0.7 1.4 -0.9 1.3 3.3 -0.8 0.3 0.2 0.1 4

 5 Time and savings deposits 8.1 8.8 11.0 29.7 -39.2 -22.8 -36.4 -3.9 3.0 -4.7 5

 6 Money market fund shares 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 6

 7 Security repurchase agreements 0.3 4.9 1.2 1.2 1.9 -5.1 -8.9 1.3 1.4 0.6 7

 8 Credit market instruments 16.8 -7.7 44.1 -9.0 104.0 -123.0 -37.1 -6.8 72.0 -0.6 8

 9 Open market paper 0.5 5.4 1.4 2.1 4.2 -4.7 -7.9 2.0 -1.8 0.4 9

 10 Treasury securities -0.5 -5.1 2.0 -13.4 16.8 -9.6 -6.9 -3.1 13.8 -4.4 10

 11 Agency- and GSE-backed securities 1.8 -11.7 6.2 -17.7 38.1 -32.2 2.8 -18.0 38.9 11.3 11

 12 Corporate and foreign bonds 14.1 3.0 33.8 20.1 43.1 -76.6 -22.9 11.7 21.2 -7.6 12

 13 Mortgages 0.8 0.7 0.8 -0.2 1.8 0.2 -2.2 0.6 -0.1 -0.2 13

 14 Corporate equities -90.6 -91.3 -151.8 -30.8 -178.4 63.6 105.5 -63.6 -3.4 21.3 14

 15 Mutual fund shares 68.6 51.6 65.3 61.5 65.6 107.0 43.4 76.0 15.9 86.9 15

 16 Miscellaneous assets 79.3 113.0 112.6 100.1 105.5 73.9 46.0 73.0 107.9 90.8 16

 17 Unallocated insurance contracts (3) -12.1 4.8 -1.7 -14.8 -11.2 -22.2 -12.4 -11.5 54.3 5.9 17

 18 Contributions receivable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 18

 19 Claims of pension fund on sponsor (4) 79.7 83.0 95.8 96.6 115.3 118.0 126.9 80.8 56.6 84.3 19

 20 Other 6.2 19.8 10.0 5.5 19.8 -2.8 -44.0 2.2 -2.8 3.7 20

 21 Pension entitlements (liabilities) (5) 89.6 91.2 97.1 154.2 72.8 101.3 105.6 85.8 196.7 195.1 21

 Memo:

 Net acquisition of financial assets (6)

 22 Defined benefit plans 53.4 47.1 52.7 51.1 51.4 47.8 58.5 57.2 62.9 56.4 22

 23 Defined contribution plans 36.2 44.1 44.4 103.1 21.3 53.4 47.1 28.5 133.8 138.5 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.117.b and F.117.c.
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30 Historical Annuals, 1995-2004, September 18, 2014

F.118 State and Local Government Employee Retirement Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.2 2

 3 Net acquisition of financial assets (1) 105.0 111.3 141.2 148.9 150.5 129.0 151.0 154.0 180.8 199.8 3

 4 Checkable deposits and currency -2.6 3.3 -2.1 4.7 -0.8 0.7 1.5 1.6 0.8 -0.9 4

 5 Time and savings deposits 2.0 -2.1 0.2 -0.4 -0.4 -0.2 0.2 -0.0 -0.4 4.3 5

 6 Money market fund shares 0.9 1.7 2.1 0.3 1.8 1.4 2.2 0.1 -2.1 6.5 6

 7 Security repurchase agreements 3.7 -3.3 0.4 8.9 2.8 -0.5 -5.9 -6.9 -3.6 -7.6 7

 8 Credit market instruments 31.2 30.1 60.6 66.4 50.2 33.4 -50.1 -47.7 17.8 24.4 8

 9 Open market paper 3.9 -2.7 0.7 10.5 5.4 4.9 3.6 -0.3 -9.0 -8.8 9

 10 Treasury securities -7.3 4.9 6.2 -6.0 -13.9 -20.2 -23.1 6.3 -11.2 1.6 10

 11 Agency- and GSE-backed securities 23.1 5.9 18.4 19.9 25.2 48.9 5.5 9.5 45.0 -2.7 11

 12 Municipal securities 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -1.9 12

 13 Corporate and foreign bonds 10.0 22.5 33.5 35.4 30.4 4.8 -35.0 -62.5 -9.9 41.5 13

 14 Mortgages 0.7 0.8 0.9 4.8 3.3 -3.6 -1.1 0.1 -0.7 -5.4 14

 15 Corporate equities 19.3 18.0 13.3 -28.1 -11.8 13.6 118.0 92.0 33.4 9.3 15

 16 Mutual fund shares 10.7 2.2 14.8 19.2 7.0 50.6 31.9 28.0 -4.0 3.1 16

 17 Miscellaneous assets 39.7 61.3 52.2 77.9 101.5 30.0 53.2 86.9 138.8 160.8 17

 18 Unallocated insurance contracts (2) 0.0 0.0 15.8 16.6 18.1 -5.2 -5.2 -9.4 19.0 12.0 18

 19 Claims of pension fund on sponsor (3) 39.3 60.6 36.4 60.7 82.0 35.0 55.8 97.3 118.9 124.0 19

 20 Other 0.4 0.7 -0.0 0.6 1.4 0.2 2.5 -0.9 0.9 24.8 20

 21 Pension entitlements (liabilities) (4) 105.0 111.3 141.3 148.9 150.5 129.0 151.0 154.0 180.8 200.0 21

 Net acquisition of financial assets (5)

 22 Defined benefit plans 103.5 109.8 114.7 121.4 128.4 135.4 142.7 149.0 158.8 177.6 22

 23 Defined contibution plans 1.5 1.5 26.6 27.5 22.1 -6.4 8.3 5.0 22.0 22.3 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Additional detail on defined benefit plans and defined contribution plans is available on tables F.118.b and F.118.c.

F.119 Federal Government Employee Retirement Funds

Billions of dollars

 1 Net acquisition of financial assets (1) 73.3 73.6 73.8 76.1 78.2 79.8 82.3 95.2 103.2 95.6 1

 2 Credit market instruments -5.4 11.5 1.9 2.7 2.6 2.1 9.6 13.2 6.9 5.1 2

 3 Treasury securities (2) -5.6 11.3 1.8 2.4 2.7 2.0 7.0 9.8 5.3 4.7 3

 4 Agency- and GSE-backed securities 0.1 0.1 0.1 0.2 -0.0 0.1 1.6 2.1 0.9 0.1 4

 5 Corporate and foreign bonds 0.1 0.1 0.0 0.1 -0.0 0.0 0.9 1.3 0.7 0.3 5

 6 Corporate equities 2.6 4.2 4.4 4.0 4.4 5.2 -0.6 7.7 16.7 8.6 6

 7 Miscellaneous assets 76.1 57.9 67.5 69.4 71.2 72.5 73.3 74.3 79.5 81.9 7

 8 Nonmarketable Treasury securities (3) 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 8

 9 Claims of pension fund on sponsor (4) 55.3 2.9 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 9

 10 Pension entitlements (liabilities) (5) 73.3 73.6 73.8 76.1 78.2 79.8 82.3 95.2 103.2 95.6 10

 Memo:

 Net acquisition of financial assets (6)

 11 Defined benefit plans 67.2 66.8 67.5 69.4 71.2 72.5 73.3 84.0 89.8 81.3 11

 12 Defined contibution plans 6.1 6.8 6.3 6.7 7.0 7.3 9.0 11.2 13.4 14.3 12

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes nonmarketable Treasury securities held by the Thrift Savings Plan.

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.119.b and F.119.c.
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Historical Annuals, 1995-2004, September 18, 2014 31

F.120 Money Market Mutual Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 1

 2 Foreign deposits 4.0 3.4 0.1 6.9 11.0 43.5 30.7 -6.8 -37.0 0.8 2

 3 Checkable deposits and currency -1.0 2.4 2.6 -2.5 -2.3 4.5 4.0 -6.6 -0.5 2.6 3

 4 Time and savings deposits 20.9 30.4 28.6 12.6 31.5 -9.2 84.7 -22.6 -58.1 16.1 4

 5 Security repurchase agreements 19.0 16.0 22.8 12.2 1.7 44.3 50.4 44.4 -26.1 -18.4 5

 6 Credit market instruments 86.5 88.8 87.5 248.9 185.7 145.4 268.5 -29.5 -73.7 -144.8 6

 7 Open market paper 48.4 38.4 62.1 79.1 110.1 104.0 14.3 -37.5 -133.7 -65.9 7

 8 Treasury securities 3.8 20.3 -4.0 21.7 -4.0 -12.5 47.3 3.3 -10.6 -29.2 8

 9 Agency- and GSE-backed securities 13.7 11.0 -5.5 76.1 18.6 -2.2 155.8 -19.0 7.7 -62.1 9

 10 Municipal securities 14.3 16.8 22.5 26.2 18.4 32.6 27.3 16.4 23.0 13.5 10

 11 Corporate and foreign bonds 6.4 2.4 12.5 45.8 42.6 23.5 23.8 7.2 39.9 -1.1 11

 12 Miscellaneous assets 11.6 4.4 14.3 3.4 23.3 8.8 -10.1 -2.3 -17.1 7.3 12

 13 Net share issues (liabilities) 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.121 Mutual Funds (1)

Billions of dollars

 1 Gross saving 8.7 4.9 6.2 -33.3 -41.8 -51.7 -34.3 -20.5 -17.8 -26.0 1

 2 Net acquisition of financial assets 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 2

 3 Security repurchase agreements 7.1 -2.7 10.3 13.1 9.9 18.8 -28.9 10.9 12.9 18.1 3

 4 Credit market instruments 52.5 48.9 80.9 127.3 48.4 26.3 126.4 138.5 137.0 114.7 4

 5 Open market paper 7.1 -3.1 10.6 13.1 9.9 18.8 -28.9 -7.7 13.1 18.0 5

 6 Treasury securities 13.4 -18.0 10.6 4.6 -23.7 10.2 -12.0 11.0 9.9 12.5 6

 7 Agency- and GSE-backed securities 5.5 33.1 8.9 21.6 36.2 12.6 86.8 60.3 24.4 7.5 7

 8 Municipal securities 3.2 3.1 6.5 22.8 -3.2 -9.0 22.6 23.8 13.0 4.1 8

 9 Corporate and foreign bonds 23.1 33.0 40.9 62.5 26.3 -10.5 65.2 50.6 77.8 62.9 9

 10 Other loans and advances 0.2 0.8 3.4 2.7 2.9 4.3 -7.3 0.5 -1.1 9.6 10

 11 Corporate equities 87.4 193.0 166.8 143.3 136.4 193.1 109.8 31.4 137.2 158.5 11

 12 Miscellaneous assets 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 12

 13 Net share issues (liabilities) 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 13

 14 Discrepancy 8.7 4.9 6.2 -33.3 -41.8 -51.7 -34.3 -20.5 -17.8 -26.0 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.122 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Net acquisition of financial assets 8.0 0.3 -11.2 -6.8 -4.9 -5.5 1.9 18.0 43.6 32.3 1

 2 Credit market instruments 8.5 2.9 -1.1 4.9 9.6 -5.6 3.2 8.6 35.4 10.7 2

 3 Treasury securities -1.7 0.1 -1.4 -1.0 -1.2 -0.9 0.1 -2.8 0.6 2.3 3

 4 Municipal securities 4.8 1.0 0.3 1.3 9.0 -2.0 7.0 11.3 3.2 -0.1 4

 5 Corporate and foreign bonds 5.4 1.9 -0.0 4.7 1.8 -2.7 -3.8 0.1 31.6 8.5 5

 6 Corporate equities -0.5 -2.6 -10.0 -11.8 -14.5 0.1 -1.3 9.3 8.2 21.6 6

 7 Net share issues (liabilities) 8.0 0.3 -11.2 -6.8 -4.9 -5.5 1.9 18.0 43.6 32.3 7

 Exchange-traded funds

 8 Net acquisition of financial assets 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 0.7 3.8 9

 10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 0.1 2.8 10

 11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 0.6 1.0 12

 13 Corporate equities 0.4 1.1 3.4 6.0 12.2 42.4 31.0 41.6 15.1 52.6 13

 14 Net share issues (liabilities) 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 14
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32 Historical Annuals, 1995-2004, September 18, 2014

F.123 Government-Sponsored Enterprises (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 1.8 1.8 2.0 2.0 2.7 2.7 2.8 2.8 3.4 3.8 1

 2 Fixed nonresidential investment 0.4 0.6 0.5 0.4 0.4 0.4 0.4 0.5 0.6 0.7 2

 3 Net acquisition of financial assets 115.1 91.7 111.6 305.0 317.4 163.5 345.5 241.7 245.6 87.9 3

 4 Checkable deposits and currency 0.2 -0.7 1.3 2.9 7.2 -7.7 2.3 8.1 14.0 10.4 4

 5 Time and savings deposits 0.0 0.0 0.0 -1.7 5.2 0.5 8.1 -5.1 -8.5 6.5 5

 6 Federal funds and security repos 20.5 -11.8 -4.1 -13.4 12.7 -71.4 24.9 -7.2 -19.5 17.6 6

 7 Credit market instruments 95.3 97.3 106.7 317.3 287.3 246.0 304.7 224.0 241.1 48.9 7

 8 Open market paper -0.8 9.6 -1.1 28.6 -32.4 10.7 2.7 -23.5 -3.7 -0.9 8

 9 Treasury securities 6.1 -12.9 7.1 -0.7 5.8 0.6 0.4 12.1 -12.3 -0.6 9

 10 Agency- and GSE-backed securities 60.0 65.8 67.6 158.4 172.9 149.2 206.9 131.7 101.9 -202.4 10

 11 Municipal securities 2.7 4.3 0.5 6.5 3.6 2.9 6.2 4.0 5.0 0.3 11

 12 Corporate and foreign bonds 9.9 8.1 6.0 24.6 28.8 19.1 24.6 33.5 33.5 192.0 12

 13 Other loans and advances 7.2 29.4 35.4 93.5 108.1 45.3 28.3 8.9 31.1 73.5 13

 14 Sallie Mae -3.1 -1.1 -1.0 -0.3 -0.3 0.1 -0.0 -0.4 -0.1 -0.3 14

 15 Farm Credit System 3.9 1.4 0.0 3.3 0.9 3.1 2.9 2.0 0.0 -0.2 15

 16 FHLB loans 6.4 29.1 36.4 90.4 107.6 42.1 25.4 7.2 31.2 74.1 16

 17 Mortgages 6.3 -6.4 -4.7 7.6 -5.0 22.2 33.2 59.8 101.7 7.5 17

 18 Home 5.4 -6.6 -4.7 5.6 -10.4 16.1 21.7 45.6 94.2 -10.5 18

 19 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Other 5.4 -6.6 -4.7 5.6 -10.4 16.1 21.7 45.6 94.2 -10.5 20

 21 Multifamily residential 0.5 -0.8 -1.5 -0.0 4.3 4.5 8.2 8.5 12.1 14.3 21

 22 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other 0.5 -0.8 -1.5 -0.0 4.3 4.5 8.2 8.5 12.1 14.3 23

 24 Farm 0.3 1.0 1.5 2.0 1.1 1.6 3.3 5.7 -4.6 3.8 24

 25 Consumer credit (3) 4.0 -0.6 -4.2 -1.2 5.4 -3.9 2.4 -2.6 -16.3 -20.6 25

 26 Miscellaneous assets -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 26

 27 Net increase in liabilities 111.3 90.6 106.6 302.5 317.3 234.7 356.9 259.8 215.7 76.4 27

 28 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.8 0.9 4.7 -1.2 28

 29 Credit market instruments 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 29

 30 GSE issues (4) 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 30

 31 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 32

 33 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Corporate equities -0.6 -0.4 -1.4 2.6 4.0 -0.3 1.6 -0.2 1.7 9.3 34

 35 Miscellaneous liabilities 6.0 0.6 8.9 21.0 -5.5 -0.1 50.3 39.3 -41.6 -6.7 35

 36 Discrepancy -2.4 0.1 -3.4 -0.9 2.3 73.5 13.8 20.4 -27.1 -8.4 36

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table F.124) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.124 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Net acquisition of financial assets 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 1

 2 Home mortgages 93.8 135.4 109.3 182.1 264.6 190.9 322.9 315.2 308.3 43.8 2

 3 Multifamily residential mortgages 4.5 5.6 5.3 10.5 9.2 8.5 15.6 12.9 26.5 -3.0 3

 4 Commercial mortgages -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.1 -0.0 0.0 0.1 0.8 0.3 0.0 -1.3 0.6 -0.1 5

 6 Net increase in pool securities (liabilities)(2) 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.123). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
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Historical Annuals, 1995-2004, September 18, 2014 33

F.125 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.5 1.4 2.1 2.6 2.3 1.6 1.4 1.2 1.1 1.0 1

 2 Fixed nonresidential investment 1.8 6.7 4.2 4.4 -0.6 -1.6 1.7 0.1 0.9 0.2 2

 3 Net acquisition of financial assets 126.5 109.4 135.2 256.3 156.8 172.4 261.6 229.8 250.5 440.1 3

 4 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.1 0.4 0.4 1.9 5.2 4

 5 Agency- and GSE-backed securities (1) 20.8 -4.6 -21.7 25.2 41.4 8.8 33.6 74.0 82.4 -16.8 5

 6 Other loans and advances 6.0 8.3 26.3 25.7 -0.1 14.1 23.5 16.2 5.3 18.9 6

 7 Mortgages (2) 16.9 36.1 62.8 127.9 70.6 65.5 122.2 112.2 173.7 445.8 7

 8 Home 10.8 21.6 38.4 68.1 31.9 31.1 79.1 81.7 123.4 390.2 8

 9 Multifamily residential 2.1 3.8 4.6 12.8 8.5 5.4 6.0 5.5 7.9 6.8 9

 10 Commercial 4.0 10.7 19.8 47.1 30.2 29.0 37.1 25.0 42.4 48.8 10

 11 Consumer credit 67.0 60.4 47.0 73.5 62.7 67.7 69.4 32.6 -21.6 -23.2 11

 12 Trade credit 15.8 9.1 20.9 4.0 -17.8 16.1 12.6 -5.6 8.8 10.3 12

 13 Net increase in liabilities 127.8 114.6 137.3 258.1 153.8 169.2 261.8 228.7 250.3 439.4 13

 14 Commercial paper 37.3 45.4 89.4 125.7 139.0 125.0 84.9 -41.7 -36.0 -3.9 14

 15 Corporate bonds (net) (3) 90.5 69.2 48.0 132.4 14.8 44.2 176.9 270.5 286.3 443.3 15

 16 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Memo:

 Securitized assets not included above

 17 Consumer leases (4) 1.3 5.3 2.1 1.8 -2.9 -3.2 0.3 -1.1 -0.2 -0.7 17

 18 REIT assets (5) -1.3 -0.3 3.7 2.9 -2.4 -1.5 -3.3 8.0 15.6 59.6 18

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Net issuance less net acquisition of corporate bonds held as assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.

(5) Included in table F.127.

F.126 Finance Companies (1)

Billions of dollars

 1 Gross saving 25.0 29.1 32.0 40.5 52.2 50.2 63.9 76.0 73.5 66.7 1

 2 Fixed nonresidential investment 27.8 32.0 34.1 43.2 55.7 56.7 48.8 52.5 45.7 55.9 2

 3 Net acquisition of financial assets 69.3 52.5 41.4 60.2 157.2 196.2 91.1 141.6 233.9 178.5 3

 4 Checkable deposits and currency 0.8 2.6 -0.4 1.1 1.5 2.6 -0.7 2.2 1.9 -0.8 4

 5 Time and savings deposits 3.6 2.6 3.7 1.3 7.7 3.9 7.2 4.0 16.4 -1.8 5

 6 Credit market instruments 59.5 42.6 23.7 92.0 133.8 155.3 68.9 121.8 176.2 207.2 6

 7 Corporate and foreign bonds 13.0 15.5 9.7 7.1 27.0 18.8 19.0 18.1 53.3 -7.7 7

 8 Other loans and advances 26.7 3.1 -0.6 36.8 54.2 61.1 -16.0 3.8 -2.3 9.8 8

 9 Mortgages 2.1 21.2 1.9 32.3 34.4 42.6 20.3 72.3 39.7 105.8 9

 10 Consumer credit 17.7 2.8 12.6 15.8 18.3 32.8 45.5 27.5 85.5 99.3 10

 11 U.S. direct investment abroad 2.5 7.3 9.0 0.5 8.5 -0.6 -0.6 0.8 1.8 -8.9 11

 12 Miscellaneous assets 2.9 -2.7 5.5 -34.7 5.6 35.2 16.4 12.8 37.7 -17.2 12

 13 Net increase in liabilities 69.3 59.1 29.6 51.3 148.5 221.1 66.0 135.4 239.8 189.4 13

 14 Credit market instruments 47.9 54.7 29.3 60.9 75.5 86.3 10.9 66.2 111.1 134.3 14

 15 Open market paper -2.9 9.4 24.6 30.7 -2.9 9.7 -77.7 -14.6 -2.7 30.2 15

 16 Corporate bonds 52.6 36.8 4.7 24.2 64.7 72.9 68.1 64.0 107.9 74.1 16

 17 Depository institution loans n.e.c. -1.7 8.5 -0.0 6.0 13.8 3.6 20.5 16.8 5.8 30.0 17

 18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Taxes payable 0.7 0.8 0.8 0.8 0.8 1.0 1.2 1.4 1.6 1.8 19

 20 Foreign direct investment in U.S. 0.8 1.5 1.2 3.5 6.9 10.9 6.2 0.1 18.8 13.0 20

 21 Miscellaneous liabilities 19.8 2.1 -1.8 -13.9 65.2 122.9 47.7 67.7 108.4 40.3 21

 22 Investment by parent 9.3 3.5 8.6 -9.1 58.5 90.4 17.9 23.1 23.4 54.9 22

 23 Other 10.5 -1.4 -10.3 -4.8 6.7 32.5 29.8 44.7 85.0 -14.7 23

 24 Discrepancy -2.8 3.6 -14.0 -11.6 -12.1 18.4 -10.1 17.3 33.8 21.8 24

 Memo:

 25 Consumer leases not included above (2) 13.4 12.3 5.6 -2.2 6.3 6.6 -2.1 -17.6 -10.7 -4.9 25

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.125.
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34 Historical Annuals, 1995-2004, September 18, 2014

F.127 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.1 0.5 2.2 -2.1 -3.9 -11.8 1.2 -2.0 -4.2 -6.3 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.1 0.0 0.2 0.2 0.1 0.1 0.0 2

 3 Multifamily residential investment 2.7 4.4 11.3 11.4 1.8 3.8 4.1 4.6 -0.2 5.5 3

 4 Net acquisition of financial assets 2.3 4.9 26.1 6.4 -0.1 -3.3 10.9 24.8 34.4 101.8 4

 5 Checkable deposits and currency 0.0 2.2 1.1 0.8 0.3 -0.0 1.1 -0.1 3.8 3.0 5

 6 Credit market instruments 1.4 4.4 20.2 -5.1 0.9 -5.2 9.1 22.2 26.4 87.6 6

 7 Agency- and GSE-backed securities -0.2 3.2 9.0 -8.1 -1.8 0.6 8.3 11.5 -2.9 15.8 7

 8 Corporate and foreign bonds 0.8 1.4 2.1 -0.4 3.1 0.2 0.4 0.6 8.5 17.1 8

 9 Mortgages 0.8 -0.3 9.1 3.4 -0.4 -6.0 0.4 10.2 20.7 54.7 9

 10 Home 1.9 1.1 6.0 0.8 -1.2 -3.5 0.8 10.1 18.5 51.1 10

 11 Multifamily residential -0.6 -0.4 0.9 0.1 0.2 -0.6 -0.3 -0.1 0.2 0.1 11

 12 Commercial -0.5 -1.0 2.2 2.5 0.6 -2.0 -0.1 0.2 2.0 3.5 12

 13 Miscellaneous assets 1.0 -1.7 4.9 10.7 -1.3 1.9 0.6 2.6 4.3 11.1 13

 14 Net increase in liabilities 14.7 29.5 92.2 86.4 19.2 4.3 19.1 52.8 52.6 153.0 14

 15 Security repurchase agreements 1.2 2.8 11.2 -9.8 -0.3 -2.5 9.2 14.6 5.5 28.7 15

 16 Credit market instruments 4.5 11.9 39.6 62.7 8.3 2.8 3.8 27.0 32.3 94.6 16

 17 Open market paper -0.0 0.0 0.0 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds 0.2 1.3 14.8 21.7 8.4 2.9 4.6 14.0 23.8 61.9 18

 19 Depository institution loans n.e.c. -1.0 2.7 9.9 16.0 -7.1 -4.8 -3.1 1.8 -0.4 7.2 19

 20 Mortgages 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 20

 21 Corporate equity issues 7.6 12.3 32.5 19.8 6.6 2.2 6.1 8.4 13.3 21.5 21

 22 Miscellaneous liabilities 1.4 2.5 8.8 13.6 4.6 1.8 0.1 2.8 1.5 8.3 22

 23 Discrepancy 9.7 20.6 56.9 66.3 13.6 -8.2 5.3 21.3 14.2 39.4 23

 Memo:

 24 Securitized assets included above -1.3 -0.3 3.7 2.9 -2.4 -1.5 -3.3 8.0 15.6 59.6 24

 25 Agency- and GSE-backed securities -2.3 0.3 0.4 0.1 -1.3 -0.2 -3.1 -0.3 0.0 0.0 25

 26 Home mortgages 0.9 -0.8 3.1 1.8 -2.0 -0.2 0.1 7.8 15.7 57.9 26

 27 Multifamily residential mortgages 0.0 0.3 0.2 0.4 -0.4 -0.2 -0.0 -0.0 -0.0 -0.0 27

 28 Commercial mortgages 0.0 0.0 0.0 0.6 1.3 -0.9 -0.2 0.6 -0.1 1.7 28

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.127.e and F.127.m.
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Historical Annuals, 1995-2004, September 18, 2014 35

F.128 Security Brokers and Dealers

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 3.6 6.6 10.0 -12.0 -9.9 -29.7 -7.8 11.2 14.5 22.3 1

 2 Fixed nonresidential investment 8.2 8.5 9.2 12.6 14.5 18.2 18.0 14.1 13.0 14.9 2

 3 Net acquisition of financial assets 216.8 151.3 241.8 50.1 125.2 292.2 355.7 -23.4 296.8 510.8 3

 4 Checkable deposits and currency 1.7 1.9 6.0 3.7 3.3 1.6 16.8 -2.9 2.9 15.7 4

 5 Security repurchase agreements 103.4 83.1 98.9 -91.9 45.4 71.8 111.5 106.9 19.1 278.9 5

 6 Credit market instruments 90.1 -15.7 14.9 6.8 -34.7 68.9 92.4 28.4 79.6 -29.2 6

 7 Open market paper 10.9 1.6 0.6 3.8 -2.0 13.2 9.0 -4.7 5.9 -1.3 7

 8 Treasury securities 61.0 -31.1 7.5 21.2 -58.4 39.4 13.1 -13.7 41.7 -82.4 8

 9 Agency- and GSE-backed securities 9.0 1.2 -4.8 0.5 15.0 -2.3 14.1 14.1 -8.1 23.5 9

 10 Municipal securities -2.7 -1.9 2.4 -0.1 -1.2 -0.7 7.7 2.0 3.8 7.1 10

 11 Corporate and foreign bonds 11.7 13.1 5.7 -17.9 11.9 17.2 47.3 32.1 36.2 18.7 11

 12 Other loans and advances 0.3 1.4 3.5 -0.7 0.1 2.1 1.3 -1.3 0.1 5.2 12

 13 Corporate equities 7.7 -1.9 2.4 -6.0 7.7 9.6 17.3 3.2 4.1 15.2 13

 14 Security credit 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 14

 15 U.S. direct investment abroad 0.1 -0.1 0.7 3.4 4.2 5.5 17.5 5.4 11.6 33.6 15

 16 Miscellaneous assets 10.2 68.3 82.1 112.5 24.0 127.6 139.1 -116.2 145.0 115.0 16

 17 Net increase in liabilities 206.0 144.7 232.0 44.0 125.3 279.9 357.8 -17.1 275.9 506.0 17

 18 Security repurchase agreements 175.5 70.6 162.8 -75.4 52.1 156.8 167.8 125.3 165.5 297.5 18

 19 Credit market instruments -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 19

 20 Corporate bonds -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 20

 21 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Corporate equity issues -8.1 -6.5 -5.9 2.5 7.6 -4.2 6.7 10.2 -8.0 2.6 22

 23 Trade payables 1.1 4.0 5.7 -1.0 11.9 5.1 3.3 -1.8 -9.2 7.8 23

 24 Security credit 30.1 47.5 33.0 69.7 59.6 110.8 36.6 -66.3 85.5 115.8 24

 25 From households 29.6 44.5 29.9 72.5 57.3 111.1 41.4 -60.3 79.2 114.1 25

 26 From U.S.-chartered depository institutions -0.3 0.3 0.6 -1.2 2.1 -2.4 -1.0 -4.1 9.0 1.0 26

 27 From foreign banking offices in U.S. 0.8 2.6 2.5 -1.6 0.2 2.1 -3.8 -1.9 -2.7 0.6 27

 28 Taxes payable -0.1 0.1 0.1 -0.1 0.9 -0.1 -0.2 -0.5 0.4 0.4 28

 29 Foreign direct investment in U.S. 1.9 3.6 5.9 -0.6 5.2 3.1 5.6 -3.6 2.9 3.1 29

 30 Miscellaneous liabilities 11.1 27.0 21.3 43.1 3.9 -7.0 139.8 -79.4 35.9 67.8 30

 31 Investment by parent companies 24.4 41.2 38.5 73.7 35.0 3.6 8.2 -2.4 30.4 10.5 31

 32 Other -13.3 -14.1 -17.2 -30.6 -31.1 -10.6 131.7 -77.0 5.5 57.2 32

 33 Proprietors’ net investment -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 33

 34 Discrepancy -15.4 -8.5 -9.0 -30.7 -24.4 -60.1 -23.7 3.3 -19.3 2.6 34

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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36 Historical Annuals, 1995-2004, September 18, 2014

F.129 Holding Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 39.9 49.2 51.9 49.7 66.9 65.1 74.3 88.7 89.2 80.5 1

 2 Fixed nonresidential investment 16.5 17.8 18.3 20.6 21.8 21.0 19.9 24.5 23.2 21.8 2

 3 Net acquisition of financial assets 54.7 48.5 64.8 122.9 63.3 105.6 129.3 115.2 171.9 281.1 3

 4 Time and savings deposits -0.1 -0.3 -0.2 0.6 -0.3 -0.1 0.1 1.0 -0.1 0.2 4

 5 Federal funds and security repos -0.2 0.1 0.6 4.3 1.1 0.1 -0.9 -0.6 0.5 -3.9 5

 6 Credit market instruments -0.3 3.9 5.4 -0.9 6.2 -12.2 4.2 3.1 8.6 -0.0 6

 7 Treasury securities -1.2 0.6 -0.1 -3.1 7.9 -7.9 0.4 0.1 1.4 -0.8 7

 8 Agency- and GSE-backed securities -0.2 0.3 0.6 1.1 -1.3 -0.5 1.4 4.5 0.9 1.9 8

 9 Corporate and foreign bonds 0.6 2.8 5.0 -0.7 1.2 -2.8 2.1 -2.4 1.3 1.3 9

 10 Other loans and advances 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 10

 11 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Miscellaneous assets 55.3 44.8 58.9 119.0 56.3 117.7 125.9 111.8 162.8 284.8 12

 13 Net trans. with depository institution subs. 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 13

 14 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net trans. with life insurance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 -1.4 4.0 3.8 2.5 15

 16 Net trans. with finance company subs. 3.4 2.9 3.6 0.9 47.9 25.3 35.7 16.2 20.8 52.3 16

 17 Net trans. with broker and dealer subs. 6.5 -10.3 3.5 38.2 -31.0 2.6 -15.8 -22.5 19.7 2.1 17

 18 Net trans. with foreign subs. 3.8 4.1 -0.8 -0.6 4.1 -32.5 -3.3 -0.6 44.1 -25.6 18

 19 Other 2.6 14.3 21.3 19.4 10.8 27.7 50.3 48.3 54.5 34.4 19

 20 Net increase in liabilities 29.1 13.7 27.6 88.5 13.7 59.1 74.8 48.1 105.5 224.2 20

 21 Federal funds and security repos 0.2 0.5 0.6 4.8 1.2 -1.5 -1.0 1.7 1.5 -5.2 21

 22 Credit market instruments 13.8 12.6 18.7 34.9 39.2 27.7 17.3 19.6 50.9 55.7 22

 23 Commercial paper -1.4 1.9 6.0 7.8 9.1 1.2 -5.1 -2.3 -6.0 10.8 23

 24 Corporate bonds 15.8 0.1 13.0 17.1 16.7 22.0 28.7 22.6 41.4 48.7 24

 25 Depository institution loans n.e.c. -0.6 10.6 -0.3 10.1 13.4 4.5 -6.3 -0.7 15.5 -3.8 25

 26 Corporate equity issues -11.3 -17.5 -30.9 -15.0 -13.8 -16.5 -15.3 -15.4 -9.6 11.7 26

 27 Miscellaneous liabilities 26.4 18.0 39.2 63.8 -12.9 49.5 73.7 42.1 62.8 162.0 27

 28 Equity, etc. 12.8 -11.2 -12.8 32.9 -40.9 16.8 12.1 -13.1 2.8 144.0 28

 29 Other 13.7 29.3 52.0 30.9 28.0 32.7 61.6 55.2 59.9 17.9 29

 30 Discrepancy -2.2 -3.4 -3.7 -5.4 -4.5 -2.4 -0.2 -3.0 -0.3 1.7 30

(1) Parent-only bank holding companies and savings and loan holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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Historical Annuals, 1995-2004, September 18, 2014 37

F.130 Funding Corporations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 5.9 145.6 138.2 140.1 272.5 86.7 37.8 -60.0 57.5 37.0 1

 2 Money market fund shares 1.2 65.6 37.7 95.7 91.4 28.5 154.5 -18.5 -75.0 -121.1 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments -19.8 14.8 51.1 -2.8 112.7 11.5 -118.9 -80.3 114.4 116.6 4

 5 Open market paper -29.8 0.5 53.5 -8.2 114.0 17.7 -164.6 -64.8 60.4 131.4 5

 6 Corporate and foreign bonds 9.8 12.8 -3.4 4.5 -3.8 -8.9 45.8 -14.4 54.9 -14.5 6

 7 Other loans and advances 0.2 1.5 1.0 0.9 2.5 2.7 -0.1 -1.2 -0.9 -0.3 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 24.5 65.2 49.4 47.2 68.4 46.7 2.1 38.7 18.2 41.5 9

 10 Investment in foreign banking offices 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 10

 11 Investment in brokers and dealers 17.8 51.5 35.0 35.5 65.9 1.1 24.0 20.2 10.7 8.4 11

 12 Net increase in liabilities 5.9 145.6 138.2 140.1 272.5 86.7 37.8 -60.0 57.5 37.0 12

 13 Credit market instruments 34.9 63.8 79.9 40.0 91.6 -1.6 -103.6 -10.7 -3.2 -2.9 13

 14 Open market paper 10.5 34.5 49.4 6.0 34.2 -3.5 -125.8 -41.2 -18.5 -15.2 14

 15 Corporate bonds 24.4 29.2 30.6 34.0 57.4 1.9 22.2 30.5 15.4 12.2 15

 16 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate equities (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Foreign direct investment in U.S. -10.2 2.9 -21.6 21.6 51.0 15.1 1.1 -0.4 0.2 0.3 19

 20 Miscellaneous liabilities -18.8 78.9 79.8 78.5 129.9 73.3 140.2 -48.9 60.5 39.6 20

 21 Securities loaned (net) -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 21

 22 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other (net) -13.3 19.0 22.6 8.5 113.6 -15.4 70.1 -46.1 -42.1 -47.2 23

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities, and funds associated with

 the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
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38 Historical Annuals, 1995-2004, September 18, 2014

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 1

 2 Federal government: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Rest of the world 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 3

 4 SDR holdings 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 4

 5 Reserve position in IMF 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 5

 6 Other reserves 6.3 -7.6 -2.9 1.5 -3.3 1.9 0.7 0.6 0.6 0.6 6

 7 Net change in assets 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 7

 8 Federal government 6.4 -2.9 2.5 6.0 -7.1 -0.7 4.6 3.4 -1.8 -3.1 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 9

 10 SDR holdings 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 10

 11 Reserve position in IMF 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 11

 12 Other reserves 3.2 -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 0.3 0.3 12

 13 Rest of the world 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Monetary gold (2) 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

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

 16 Monetary authority 3.2 -3.8 -1.5 0.8 -1.7 0.9 0.3 0.3 0.3 0.3 16

 17 Monetary gold (2) -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 0.0 17

 18 Reserve position in IMF 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 -0.0 18

 19 Other reserves 3.2 -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 0.3 0.3 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

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

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 3

 4 Asset: Monetary authority 1.0 1.0 0.6 0.7 1.7 3.6 1.4 1.6 0.9 1.0 4

 5 Discrepancy (seigniorage) -0.3 -0.4 -0.1 -0.2 -0.7 -1.2 -0.1 -0.6 -0.3 -0.3 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 43.8 154.2 1

 Held by:

 2 Household sector 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.9 8.9 2

 3 Nonfinancial corporate business 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 3

 4 Money market mutual funds 4.0 3.4 0.1 6.9 11.0 43.5 30.7 -6.8 -37.0 0.8 4

 5 Discrepancy--unallocated assets 25.0 59.4 106.2 -5.7 34.0 83.2 -15.8 21.5 60.3 128.9 5
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Historical Annuals, 1995-2004, September 18, 2014 39

F.203 Net Interbank Transactions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities -10.7 -25.0 -7.0 -5.6 16.7 -49.3 -32.0 15.0 4.7 -11.5 1

 2 Monetary authority 1.3 -0.5 6.1 -7.5 22.2 -27.1 1.4 5.6 0.7 -5.4 2

 3 U.S.-chartered depository institutions -8.2 -30.9 12.5 34.9 51.5 48.5 5.1 12.0 39.1 70.7 3

 4 Foreign banking offices in U.S. -2.3 5.6 -24.5 -25.1 -46.2 -72.4 -20.0 0.2 -29.6 -77.7 4

 5 Banks in U.S.-affiliated areas -0.2 0.2 0.1 -0.6 -0.3 0.5 -1.1 0.3 0.0 -1.0 5

 6 Credit unions -1.3 0.6 -1.2 -7.4 -10.5 1.2 -17.4 -3.1 -5.4 2.0 6

 7 Net change in assets -5.4 -27.6 14.9 -3.0 27.3 -67.7 -26.9 16.1 11.2 -32.8 7

 8 Rest of the world -7.4 -31.3 10.4 5.5 6.7 -41.6 -27.3 10.1 11.3 -28.6 8

 9 Monetary authority 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 9

 10 U.S.-chartered depository institutions 1.4 -0.7 4.3 -5.6 21.8 -26.7 1.1 4.8 0.8 -5.3 10

 11 Foreign banking offices in U.S. -0.1 0.3 1.8 -1.9 0.4 -1.0 0.2 0.6 -0.4 -0.1 11

 12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.2 -0.0 12

 13 Discrepancy -5.3 2.6 -21.9 -2.6 -10.6 18.4 -5.1 -1.2 -6.5 21.3 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 14

 15 Asset: U.S.-chartered depository institutions 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 17

 18 Asset: U.S.-chartered depository institutions -1.1 -5.4 4.5 -2.6 -2.7 -4.5 -1.8 4.4 0.7 1.2 18

 19 Foreign banking offices in U.S. -0.1 0.3 1.8 -1.9 0.4 -1.0 0.2 0.6 -0.4 -0.1 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.2 -0.0 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 21

 22 Asset: Monetary authority 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 22

 23 Federal Reserve float 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 23

 24 Loans -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) -9.9 -25.5 29.6 26.2 54.3 43.3 2.0 14.2 41.2 63.9 25

 26 Due to foreign affiliates -19.0 -2.3 55.1 22.9 38.3 76.9 14.5 -9.6 114.3 37.5 26

 27 - Due from foreign affiliates -9.1 23.2 25.6 -3.3 -16.0 33.6 12.5 -23.8 73.1 -26.3 27

 28 Foreign banking offices in U.S. (net) -3.6 4.3 -17.2 9.5 -51.1 -87.4 -32.3 6.3 -31.5 -78.3 28

 29 Due to foreign affiliates 40.4 5.8 57.1 53.2 -6.7 -33.9 62.4 62.2 -44.9 70.3 29

 30 - Due from foreign affiliates 44.0 1.5 74.2 43.7 44.4 53.5 94.6 55.9 -13.4 148.6 30

 31 Less: Deposits at foreign banks -0.3 4.5 0.4 32.5 -10.6 -5.3 -7.3 6.4 -1.2 12.7 31

 32 U.S.-chartered depository institutions -2.5 5.1 1.1 6.8 -1.5 -2.6 -0.8 9.3 -2.3 6.5 32

 33 Foreign banking offices in U.S. 2.2 -0.6 -0.7 25.7 -9.1 -2.7 -6.6 -3.0 1.2 6.2 33

 34 Plus: Loans from foreign banks 5.8 -5.6 -1.6 2.4 -7.1 -2.8 -4.4 -4.0 0.4 -1.4 34

 35 U.S.-chartered depository institutions 1.1 -0.7 0.2 2.6 -0.2 -0.5 -0.9 -1.2 0.6 -1.3 35

 36 Foreign banking offices in U.S. 4.7 -4.9 -1.8 -0.2 -6.8 -2.3 -3.4 -2.8 -0.2 -0.1 36

 37 Asset: Rest of the world (1) -7.4 -31.3 10.4 5.5 6.7 -41.6 -27.3 10.1 11.3 -28.6 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) -2.6 -3.7 -14.5 14.0 -2.4 2.2 4.3 7.9 -4.4 13.4 38

 39 Due to (3): -25.6 -10.3 -23.7 -10.8 21.0 4.5 3.9 -1.8 2.7 35.0 39

 40 Foreign banking offices in U.S. -21.8 -12.1 -3.0 -16.2 20.8 -12.2 -9.5 -3.5 3.8 14.8 40

 41 Banks in U.S.-affiliated areas 0.2 -0.2 -0.1 0.6 0.3 -0.5 1.1 -0.3 -0.0 1.0 41

 42 Credit unions 1.3 -0.6 1.2 7.4 10.5 -1.2 17.4 3.1 5.4 -2.0 42

 43 - Due from: Foreign banking offices in U.S. -23.0 -6.6 -9.3 -24.8 23.4 2.3 -0.3 -9.7 7.1 21.6 43

 44 Unallocated (2) -5.3 2.6 -21.9 -2.6 -10.6 18.4 -5.1 -1.2 -6.5 21.3 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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40 Historical Annuals, 1995-2004, September 18, 2014

F.204 Checkable Deposits and Currency

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 1

 2 Monetary authority 16.9 23.3 29.8 39.0 108.2 -35.1 47.4 41.9 37.3 37.7 2

 3 Federal government cash and deposits -1.2 1.7 -2.3 0.5 22.3 -22.9 1.5 -2.3 1.3 0.1 3

 4 Due to government-sponsored enterprises 0.0 -0.0 0.0 0.7 -0.4 0.1 -0.6 0.4 -0.5 0.6 4

 5 Deposits due to foreign 0.1 -0.2 0.3 -0.3 -0.1 0.1 -0.2 0.1 0.0 -0.1 5

 6 Currency outside banks 18.0 21.8 31.9 38.1 86.4 -12.5 46.7 43.7 36.5 37.1 6

 7 U.S.-chartered depository institutions -47.9 -35.7 -26.4 -35.3 0.9 -83.7 56.2 -53.7 38.5 39.2 7

 8 Federal government deposits -4.7 9.7 -0.9 -14.6 36.4 -33.2 -0.4 -16.4 -0.9 -3.2 8

 9 Deposits due to foreign 1.0 3.5 4.4 -2.8 -0.5 2.4 -2.5 -0.3 4.3 9.7 9

 10 Private domestic deposits -44.2 -48.8 -29.9 -17.9 -35.0 -52.9 59.1 -37.0 35.1 32.8 10

 11 Foreign banking offices in U.S. -0.1 -0.7 0.8 -0.2 0.6 -0.4 0.4 -0.7 1.1 -0.8 11

 12 Deposits due to foreign -0.1 -0.7 0.4 -0.3 0.6 -0.3 -2.4 -0.4 -0.4 -0.5 12

 13 Private domestic deposits -0.0 -0.0 0.4 0.1 -0.0 -0.1 2.7 -0.3 1.4 -0.3 13

 14 Banks in U.S.-affiliated areas 0.2 0.5 0.4 1.2 0.0 -0.1 3.1 -1.1 1.5 1.6 14

 15 Credit unions 2.1 1.6 4.1 6.4 2.3 5.9 3.5 5.7 6.0 7.6 15

 16 Net change in assets -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 16

 17 Household sector -49.9 -41.7 -40.9 24.8 -19.8 -103.5 74.7 -15.9 -31.2 -58.2 17

 18 Nonfinancial business 18.1 1.5 11.0 -9.8 34.7 43.5 -53.0 -9.6 50.1 109.9 18

 19 Corporate 4.6 -17.6 -11.3 -15.9 29.6 35.0 -53.8 -12.3 44.0 3.0 19

 20 Noncorporate 13.5 19.2 22.4 6.1 5.1 8.4 0.8 2.7 6.1 106.9 20

 21 State and local governments 3.4 -5.6 4.4 -3.9 4.0 0.1 4.0 5.1 7.0 -3.5 21

 22 Federal government -0.0 11.0 -0.5 -16.7 66.2 -65.1 41.1 -17.1 9.3 -31.0 22

 23 Rest of the world 9.9 16.7 27.5 10.5 24.3 -1.2 18.8 18.3 14.6 22.4 23

 24 Checkable deposits 1.1 2.6 5.1 -3.4 -0.1 2.2 -5.0 -0.6 4.0 9.1 24

 25 Currency 8.8 14.2 22.4 13.8 24.4 -3.4 23.8 18.9 10.6 13.3 25

 26 Financial sectors -0.6 10.6 14.0 6.8 10.9 4.0 65.5 13.7 43.7 27.5 26

 27 Property-casualty insurance companies -0.2 -0.9 0.3 -0.2 0.2 -0.6 9.4 12.8 8.6 -8.7 27

 28 Life insurance companies -0.5 -0.9 3.8 -2.7 0.0 -0.5 31.9 -1.6 12.0 6.0 28

 29 Private pension funds 0.8 0.7 1.4 -0.9 1.3 3.3 -0.8 0.3 0.2 0.1 29

 30 State and local govt. retirement funds -2.6 3.3 -2.1 4.7 -0.8 0.7 1.5 1.6 0.8 -0.9 30

 31 Money market mutual funds -1.0 2.4 2.6 -2.5 -2.3 4.5 4.0 -6.6 -0.5 2.6 31

 32 Government-sponsored enterprises 0.2 -0.7 1.3 2.9 7.2 -7.7 2.3 8.1 14.0 10.4 32

 33 Finance companies 0.8 2.6 -0.4 1.1 1.5 2.6 -0.7 2.2 1.9 -0.8 33

 34 REITs 0.0 2.2 1.1 0.8 0.3 -0.0 1.1 -0.1 3.8 3.0 34

 35 Brokers and dealers 1.7 1.9 6.0 3.7 3.3 1.6 16.8 -2.9 2.9 15.7 35

 36 Mail float -9.8 -3.6 -6.6 -0.5 -8.2 8.7 -40.5 -2.3 -8.9 18.2 36
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Historical Annuals, 1995-2004, September 18, 2014 41

F.205 Time and Savings Deposits

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 174.0 226.4 251.4 217.0 214.7 382.6 353.8 346.6 368.3 530.0 1

 2 Small time and savings deposits 112.5 123.8 129.5 189.3 83.8 231.0 314.6 325.4 307.4 281.6 2

 3 U.S.-chartered depository institutions 100.4 111.3 111.9 169.0 72.6 217.0 257.0 294.5 276.8 265.2 3

 4 Foreign banking offices in U.S. -0.7 0.1 4.4 -3.7 -1.8 -0.4 4.5 -2.3 0.8 -0.7 4

 5 Banks in U.S.-affiliated areas 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 5

 6 Credit unions 11.6 12.3 13.2 23.1 12.3 13.0 48.6 35.1 28.5 15.5 6

 7 Large time deposits (1) 61.5 102.5 121.9 27.7 130.9 151.6 39.2 21.2 60.9 248.4 7

 8 U.S.-chartered depository institutions 54.9 54.1 76.7 49.9 74.6 116.7 -4.7 60.1 39.4 162.6 8

 9 Foreign banking offices in U.S. 3.8 45.8 42.2 -27.3 52.3 30.0 30.3 -45.6 9.4 77.9 9

 10 Banks in U.S.-affiliated areas 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 10

 11 Credit unions 1.7 2.4 2.9 4.1 3.1 3.5 9.0 8.7 10.8 6.4 11

 12 Net change in assets 174.0 226.4 251.4 217.0 214.7 382.6 353.8 346.6 368.3 530.0 12

 13 Household sector 127.7 141.6 142.8 86.7 94.9 286.5 283.1 306.7 299.3 454.4 13

 14 Nonfinancial business 7.6 33.5 45.4 69.0 97.3 103.5 15.9 24.6 116.1 24.5 14

 15 Corporate 3.3 30.0 34.7 28.2 44.3 35.5 8.8 10.2 71.5 37.7 15

 16 Noncorporate 4.3 3.5 10.7 40.7 53.1 68.1 7.1 14.5 44.7 -13.2 16

 17 State and local governments 6.6 10.5 5.8 14.7 14.1 10.7 12.0 8.8 19.8 7.9 17

 18 Federal government 0.3 1.4 1.0 1.3 0.7 1.0 4.2 17.1 -25.2 -0.0 18

 19 Rest of the world -2.7 -0.2 13.1 3.1 3.2 8.9 -25.5 16.0 6.0 22.8 19

 20 Financial sectors 34.6 39.4 43.3 42.2 4.6 -28.0 64.0 -26.6 -47.8 20.5 20

 21 Private pension funds 8.1 8.8 11.0 29.7 -39.2 -22.8 -36.4 -3.9 3.0 -4.7 21

 22 State and local govt. retirement funds 2.0 -2.1 0.2 -0.4 -0.4 -0.2 0.2 -0.0 -0.4 4.3 22

 23 Money market mutual funds 20.9 30.4 28.6 12.6 31.5 -9.2 84.7 -22.6 -58.1 16.1 23

 24 Government-sponsored enterprises 0.0 0.0 0.0 -1.7 5.2 0.5 8.1 -5.1 -8.5 6.5 24

 25 Finance companies 3.6 2.6 3.7 1.3 7.7 3.9 7.2 4.0 16.4 -1.8 25

 26 Holding companies -0.1 -0.3 -0.2 0.6 -0.3 -0.1 0.1 1.0 -0.1 0.2 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Net issues 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 1

 2 Net purchases 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 2

 3 Household sector 99.3 28.5 70.4 96.1 102.0 167.9 163.7 -32.7 -113.9 -56.2 3

 4 Nonfinancial corporate business 22.9 34.7 24.2 42.9 35.1 17.1 100.2 5.7 -30.4 10.3 4

 5 Nonfinancial noncorporate business 1.9 2.2 3.7 9.7 8.1 8.7 9.6 2.3 2.3 2.9 5

 6 State and local governments 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 4.8 12.8 6

 7 Rest of the world 0.8 0.8 0.8 0.8 0.8 3.1 3.9 1.1 2.6 4.1 7

 8 Property-casualty insurance companies 2.8 -0.7 -0.1 2.6 -5.0 3.5 -3.1 5.0 -0.9 -0.9 8

 9 Life insurance companies 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2.4 0.3 4.6 9

 10 Private pension funds 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 10

 11 State and local govt. retirement funds 0.9 1.7 2.1 0.3 1.8 1.4 2.2 0.1 -2.1 6.5 11

 12 Funding corporations 1.2 65.6 37.7 95.7 91.4 28.5 154.5 -18.5 -75.0 -121.1 12
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42 Historical Annuals, 1995-2004, September 18, 2014

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 194.4 81.0 243.5 -4.3 62.2 229.2 195.5 291.4 256.4 509.4 1

 2 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 3.9 23.6 78.3 148.2 2

 3 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 4.6 5.1 3

 4 U.S.-chartered depository institutions 15.2 -9.5 48.3 54.7 28.1 16.5 24.2 43.8 -6.5 36.7 4

 5 Foreign banking offices in U.S. 2.4 16.5 20.7 21.4 -18.9 59.8 -12.4 47.9 0.3 2.6 5

 6 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.7 -0.9 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 -0.7 1.2 -1.0 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 12.6 0.8 -1.2 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.8 0.9 4.7 -1.2 9

 10 REITs 1.2 2.8 11.2 -9.8 -0.3 -2.5 9.2 14.6 5.5 28.7 10

 11 Brokers and dealers 175.5 70.6 162.8 -75.4 52.1 156.8 167.8 125.3 165.5 297.5 11

 12 Holding companies 0.2 0.5 0.6 4.8 1.2 -1.5 -1.0 1.7 1.5 -5.2 12

 13 Net change in assets 207.2 104.5 190.6 -4.9 135.1 43.1 191.2 190.3 152.0 498.5 13

 14 Nonfinancial corporate business 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 14

 15 State and local governments -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 1.6 7.2 15

 16 Rest of the world 21.0 3.2 20.0 -18.8 8.0 11.4 24.7 39.1 133.0 190.5 16

 17 Monetary authority 3.3 7.7 2.3 6.5 110.3 -97.3 6.9 -10.8 4.3 -10.8 17

 18 U.S.-chartered depository institutions 39.0 -21.8 13.4 58.0 -47.7 42.5 38.0 5.6 6.9 35.8 18

 19 Foreign banking offices in U.S. -7.4 0.3 18.7 7.8 -12.6 45.6 -11.2 18.2 23.0 -11.8 19

 20 Credit unions 0.2 -4.9 2.0 3.4 2.4 -5.3 -1.5 -0.8 0.6 1.6 20

 21 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 0.6 -1.2 21

 22 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 3.4 -2.5 1.4 22

 23 Private pension funds 0.3 4.9 1.2 1.2 1.9 -5.1 -8.9 1.3 1.4 0.6 23

 24 State and local govt. retirement funds 3.7 -3.3 0.4 8.9 2.8 -0.5 -5.9 -6.9 -3.6 -7.6 24

 25 Money market mutual funds 19.0 16.0 22.8 12.2 1.7 44.3 50.4 44.4 -26.1 -18.4 25

 26 Mutual funds 7.1 -2.7 10.3 13.1 9.9 18.8 -28.9 10.9 12.9 18.1 26

 27 Government-sponsored enterprises 20.5 -11.8 -4.1 -13.4 12.7 -71.4 24.9 -7.2 -19.5 17.6 27

 28 Brokers and dealers 103.4 83.1 98.9 -91.9 45.4 71.8 111.5 106.9 19.1 278.9 28

 29 Holding companies -0.2 0.1 0.6 4.3 1.1 0.1 -0.9 -0.6 0.5 -3.9 29

 30 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Discrepancy -12.8 -23.5 52.8 0.6 -72.9 186.1 4.3 101.1 104.4 10.9 31
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Historical Annuals, 1995-2004, September 18, 2014 43

F.208 Open Market Paper

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total net issues, all types 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 1

 2 Commercial paper 75.1 101.6 186.8 202.5 232.8 212.2 -188.5 -98.9 -81.7 106.5 2

 3 Nonfinancial corporate business 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 3

 4 Foreign issues in U.S. 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.9 69.2 4

 5 Nonfinancial 5.4 -1.9 -2.3 -1.6 8.2 10.9 -16.4 -0.2 -3.8 -2.2 5

 6 Financial 8.1 13.2 6.0 9.4 8.1 20.8 34.7 59.0 22.6 71.5 6

 7 Financial sectors 43.4 91.3 169.4 170.3 179.2 132.4 -123.7 -99.8 -63.3 21.9 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 37.3 45.4 89.4 125.7 139.0 125.0 84.9 -41.7 -36.0 -3.9 9

 10 Finance companies -2.9 9.4 24.6 30.7 -2.9 9.7 -77.7 -14.6 -2.7 30.2 10

 11 REITs -0.0 0.0 0.0 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies -1.4 1.9 6.0 7.8 9.1 1.2 -5.1 -2.3 -6.0 10.8 12

 13 Funding corporations 10.5 34.5 49.4 6.0 34.2 -3.5 -125.8 -41.2 -18.5 -15.2 13

 14 Bankers’ acceptances (1) -0.8 1.0 -2.7 -9.4 -2.9 -0.7 -3.2 -0.2 -0.2 -0.3 14

 15 U.S.-chartered depository institutions 2.3 1.7 -0.3 -4.6 -2.5 -0.6 -2.3 0.3 -0.2 -0.4 15

 16 Foreign banking offices in U.S. -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 16

 17 Net purchases, by sector 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 17

 18 Household sector 2.0 4.1 1.3 3.0 4.7 12.4 -9.2 -5.9 -4.9 6.4 18

 19 Nonfinancial corporate business 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 19

 20 State and local governments 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 -0.7 2.9 20

 21 Rest of the world 18.6 14.4 19.9 33.6 -6.4 9.3 -5.9 18.1 2.1 16.5 21

 22 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 U.S.-chartered depository institutions (1) 0.4 0.4 -0.9 -0.1 -0.1 0.2 0.0 0.0 0.0 0.0 23

 24 Foreign banking offices in U.S. (1) -0.4 0.5 -0.2 -0.1 0.4 -0.1 0.0 0.0 0.0 0.0 24

 25 Credit unions -1.6 -0.3 -0.1 0.2 1.5 -0.6 1.2 -0.9 -0.8 0.1 25

 26 Property-casualty insurance companies 4.1 -1.0 -0.1 3.7 -7.2 5.0 -6.4 3.0 -2.0 -1.4 26

 27 Life insurance companies -7.3 2.9 17.5 7.5 2.0 -4.5 -19.5 4.0 -17.8 -10.5 27

 28 Private pension funds 0.5 5.4 1.4 2.1 4.2 -4.7 -7.9 2.0 -1.8 0.4 28

 29 State and local govt. retirement funds 3.9 -2.7 0.7 10.5 5.4 4.9 3.6 -0.3 -9.0 -8.8 29

 30 Money market mutual funds 48.4 38.4 62.1 79.1 110.1 104.0 14.3 -37.5 -133.7 -65.9 30

 31 Mutual funds 7.1 -3.1 10.6 13.1 9.9 18.8 -28.9 -7.7 13.1 18.0 31

 32 Government-sponsored enterprises -0.8 9.6 -1.1 28.6 -32.4 10.7 2.7 -23.5 -3.7 -0.9 32

 33 Brokers and dealers 10.9 1.6 0.6 3.8 -2.0 13.2 9.0 -4.7 5.9 -1.3 33

 34 Funding corporations -29.8 0.5 53.5 -8.2 114.0 17.7 -164.6 -64.8 60.4 131.4 34

(1) Excludes banks’ holdings of own acceptances.
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44 Historical Annuals, 1995-2004, September 18, 2014

F.209 Treasury Securities

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 1

 2 U.S. savings securities (1) 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 2

 3 Treasury bills 26.9 16.7 -62.0 -24.4 46.1 -90.2 164.4 77.5 40.0 72.4 3

 4 Other Treasury securities 111.0 127.8 85.7 -30.3 -116.9 -203.0 -175.1 175.0 349.5 289.5 4

 5 Net purchases 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 5

 6 Household sector -10.3 -13.8 -143.1 -70.6 2.5 -210.7 -89.9 -134.6 22.6 -11.0 6

 7 U.S. savings securities (1) 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 7

 8 Bills and other Treasury securities -15.4 -15.9 -142.6 -70.7 2.7 -209.0 -95.6 -139.1 13.7 -11.6 8

 9 Nonfinancial corporate business 6.3 -10.0 -20.2 -3.2 -4.2 -1.3 -1.3 14.5 2.3 0.3 9

 10 Nonfinancial noncorporate business 5.3 4.9 3.7 5.7 -0.8 3.0 2.7 0.0 2.1 5.3 10

 11 State and local governments -80.2 -32.8 -17.7 41.4 23.8 5.5 18.4 26.2 7.0 43.3 11

 12 Rest of the world 160.5 262.7 123.7 18.7 -32.3 -75.2 19.3 160.9 276.4 366.9 12

 13 Treasury bills 34.4 39.5 -43.6 -9.7 2.2 -7.8 11.5 50.7 22.0 37.0 13

 14 Other Treasury securities 126.1 223.2 167.4 28.4 -34.5 -67.4 7.8 110.2 254.4 329.9 14

 15 Monetary authority 13.7 12.7 39.8 21.4 25.8 33.7 40.0 77.7 37.3 51.2 15

 16 Treasury bills 5.7 7.5 6.5 -2.4 -18.3 2.2 3.3 44.6 18.2 18.1 16

 17 Other Treasury securities 7.9 5.2 33.4 23.8 44.1 31.5 36.6 33.1 19.1 33.0 17

 18 U.S.-chartered depository institutions -49.1 -35.7 -9.0 -46.4 -2.0 -36.4 -28.8 27.7 10.1 -23.1 18

 19 Foreign banking offices in U.S. 29.6 18.4 14.4 -10.3 9.7 -0.5 9.8 12.9 -7.3 -5.7 19

 20 Banks in U.S.-affiliated areas 0.2 -1.3 0.1 -0.7 -0.7 -1.0 -0.6 0.3 1.0 1.4 20

 21 Credit unions -3.8 -0.9 -1.8 -2.5 -3.5 -1.4 -0.8 0.1 1.2 0.1 21

 22 Property-casualty insurance companies 1.7 -12.9 2.1 -19.6 -11.9 -7.1 -0.3 14.5 14.3 20.3 22

 23 Treasury bills 1.2 -0.3 -0.0 1.1 -2.2 1.5 -0.3 5.3 10.8 13.7 23

 24 Other Treasury securities 0.5 -12.6 2.1 -20.8 -9.7 -8.6 -0.0 9.2 3.5 6.6 24

 25 Life insurance companies 1.0 -14.9 1.6 -14.1 -9.3 -4.6 -0.1 31.4 -9.1 1.7 25

 26 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.6 -2.5 -4.9 26

 27 Other Treasury securities 1.0 -14.9 1.6 -14.1 -9.3 -4.6 -0.1 24.8 -6.6 6.6 27

 28 Private pension funds -0.5 -5.1 2.0 -13.4 16.8 -9.6 -6.9 -3.1 13.8 -4.4 28

 29 State and local govt. retirement funds -7.3 4.9 6.2 -6.0 -13.9 -20.2 -23.1 6.3 -11.2 1.6 29

 30 Federal government retirement funds -5.6 11.3 1.8 2.4 2.7 2.0 7.0 9.8 5.3 4.7 30

 31 Money market mutual funds 3.8 20.3 -4.0 21.7 -4.0 -12.5 47.3 3.3 -10.6 -29.2 31

 32 Treasury bills -2.3 -0.1 -1.2 6.2 11.5 -4.3 38.9 16.2 -10.8 -15.8 32

 33 Other Treasury securities 6.1 20.3 -2.8 15.5 -15.5 -8.2 8.4 -12.9 0.2 -13.4 33

 34 Mutual funds 13.4 -18.0 10.6 4.6 -23.7 10.2 -12.0 11.0 9.9 12.5 34

 35 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Other Treasury securities 13.4 -18.0 10.6 4.6 -23.7 10.2 -12.0 11.0 9.9 12.5 36

 37 Closed-end funds -1.7 0.1 -1.4 -1.0 -1.2 -0.9 0.1 -2.8 0.6 2.3 37

 38 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 0.1 2.8 38

 39 Government-sponsored enterprises 6.1 -12.9 7.1 -0.7 5.8 0.6 0.4 12.1 -12.3 -0.6 39

 40 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.1 0.4 0.4 1.9 5.2 40

 41 Brokers and dealers 61.0 -31.1 7.5 21.2 -58.4 39.4 13.1 -13.7 41.7 -82.4 41

 42 Holding companies -1.2 0.6 -0.1 -3.1 7.9 -7.9 0.4 0.1 1.4 -0.8 42

 Memo:

 43 Federal government borrowing (2) 144.4 144.9 23.1 -52.6 -71.2 -295.9 -5.6 257.6 396.0 361.9 43

(1) Includes U.S. savings bonds, U.S. individual retirement bonds, U.S. retirement plan bonds, U.S. savings stamps, and matured U.S. savings securities.

(2) Total issues of Treasury securities (line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 11).
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Historical Annuals, 1995-2004, September 18, 2014 45

F.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 583.8 115.2 1

 2 Budget agencies 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 2

 3 Government-sponsored enterprises 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 3

 4 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 4

 5 Net purchases 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 583.8 115.2 5

 6 Household sector 27.6 100.9 54.2 68.4 82.7 29.4 -139.1 -137.2 132.8 133.0 6

 7 Nonfinancial corporate business 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -5.7 0.1 7

 8 State and local governments -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 11.9 37.1 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 17.6 26.8 30.3 11.1 63.4 141.9 92.0 127.1 12.3 154.6 10

 11 Monetary authority -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 0.0 -0.0 0.0 11

 12 U.S.-chartered depository institutions 28.0 6.8 59.6 70.2 32.8 11.5 94.7 135.9 107.7 7.3 12

 13 Foreign banking offices in U.S. 14.3 12.4 12.5 5.2 4.9 0.4 -22.0 10.9 -6.3 -1.4 13

 14 Banks in U.S.-affiliated areas 1.3 0.2 2.0 3.9 3.3 4.3 2.5 3.9 4.7 4.7 14

 15 Credit unions 4.9 4.9 0.4 7.3 2.9 -0.4 19.6 -1.5 15.2 -1.1 15

 16 Property-casualty insurance companies 2.3 2.8 1.7 -1.2 5.9 8.6 10.1 19.0 2.2 -3.3 16

 17 Life insurance companies 8.7 1.3 -3.0 -9.6 7.0 11.0 18.1 77.4 18.0 8.2 17

 18 Private pension funds 1.8 -11.7 6.2 -17.7 38.1 -32.2 2.8 -18.0 38.9 11.3 18

 19 State and local govt. retirement funds 23.1 5.9 18.4 19.9 25.2 48.9 5.5 9.5 45.0 -2.7 19

 20 Federal government retirement funds 0.1 0.1 0.1 0.2 -0.0 0.1 1.6 2.1 0.9 0.1 20

 21 Money market mutual funds 13.7 11.0 -5.5 76.1 18.6 -2.2 155.8 -19.0 7.7 -62.1 21

 22 Mutual funds 5.5 33.1 8.9 21.6 36.2 12.6 86.8 60.3 24.4 7.5 22

 23 Government-sponsored enterprises 60.0 65.8 67.6 158.4 172.9 149.2 206.9 131.7 101.9 -202.4 23

 24 ABS issuers 20.8 -4.6 -21.7 25.2 41.4 8.8 33.6 74.0 82.4 -16.8 24

 25 REITs -0.2 3.2 9.0 -8.1 -1.8 0.6 8.3 11.5 -2.9 15.8 25

 26 Brokers and dealers 9.0 1.2 -4.8 0.5 15.0 -2.3 14.1 14.1 -8.1 23.5 26

 27 Holding companies -0.2 0.3 0.6 1.1 -1.3 -0.5 1.4 4.5 0.9 1.9 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.209, line 43.
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46 Historical Annuals, 1995-2004, September 18, 2014

F.211 Municipal Securities and Loans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 203.7 1

 2 State and local governments -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 178.5 2

 3 Short-term (1) 1.2 6.3 8.3 -6.3 2.6 1.4 23.8 25.2 10.4 22.2 3

 4 Long-term -62.1 -22.0 37.3 72.9 36.3 15.1 81.5 118.7 110.1 156.3 4

 5 Nonprofit organizations (2) 0.2 6.1 7.1 11.8 10.4 5.8 13.8 12.6 13.8 14.7 5

 6 Nonfinancial corporate business 3.1 3.1 4.2 5.8 5.1 1.4 3.5 2.9 3.3 10.6 6

 (industrial revenue bonds)

 7 Net change in assets -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 203.7 7

 8 Household sector -60.5 -40.5 21.5 0.8 28.6 6.2 56.4 83.6 15.8 118.5 8

 9 Nonfinancial corporate business -19.9 -5.8 -3.6 -1.6 -0.7 6.9 -2.6 2.8 3.3 -3.6 9

 10 Nonfinancial noncorporate business 0.6 0.4 0.5 -0.4 -0.1 -0.3 1.1 -0.1 -0.7 1.7 10

 11 State and local governments -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.4 1.1 11

 12 Rest of the world 1.0 1.0 1.0 1.0 1.0 0.2 0.0 3.5 8.0 6.5 12

 13 U.S.-chartered depository institutions -4.3 1.1 2.5 8.6 6.3 3.4 7.9 2.5 11.8 9.1 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Banks in U.S.-affiliated areas 0.1 -0.1 -0.0 -0.1 0.1 0.1 -0.2 0.0 0.1 -0.2 15

 16 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Property-casualty insurance companies 7.0 14.4 2.6 16.5 -9.1 -14.9 -10.3 9.2 41.2 43.6 17

 18 Life insurance companies -0.9 1.5 0.1 1.7 1.7 -1.0 -0.4 1.2 6.2 4.0 18

 19 State and local govt. retirement funds 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -1.9 19

 20 Money market mutual funds 14.3 16.8 22.5 26.2 18.4 32.6 27.3 16.4 23.0 13.5 20

 21 Mutual funds 3.2 3.1 6.5 22.8 -3.2 -9.0 22.6 23.8 13.0 4.1 21

 22 Closed-end funds 4.8 1.0 0.3 1.3 9.0 -2.0 7.0 11.3 3.2 -0.1 22

 23 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Government-sponsored enterprises 2.7 4.3 0.5 6.5 3.6 2.9 6.2 4.0 5.0 0.3 24

 25 Brokers and dealers -2.7 -1.9 2.4 -0.1 -1.2 -0.7 7.7 2.0 3.8 7.1 25

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
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Historical Annuals, 1995-2004, September 18, 2014 47

F.212 Corporate and Foreign Bonds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues 296.5 296.2 317.1 483.1 365.9 346.0 580.4 485.1 561.5 688.7 1

 2 Nonfinancial corporate business 58.4 87.7 127.5 207.4 206.9 151.0 293.4 82.3 72.9 -12.1 2

 3 Rest of the world (1) 56.9 66.6 59.6 28.8 10.4 21.3 -20.5 3.8 0.8 32.5 3

 4 Financial sectors 181.2 141.9 130.0 246.8 148.6 173.7 307.5 399.0 487.8 668.3 4

 5 U.S.-chartered depository institutions 2.7 7.3 10.8 10.3 3.8 14.1 5.7 -0.8 6.5 12.9 5

 6 ABS issuers (net) (2) 90.5 69.2 48.0 132.4 14.8 44.2 176.9 270.5 286.3 443.3 6

 7 Finance companies 52.6 36.8 4.7 24.2 64.7 72.9 68.1 64.0 107.9 74.1 7

 8 REITs 0.2 1.3 14.8 21.7 8.4 2.9 4.6 14.0 23.8 61.9 8

 9 Brokers and dealers -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 9

 10 Holding companies 15.8 0.1 13.0 17.1 16.7 22.0 28.7 22.6 41.4 48.7 10

 11 Funding corporations 24.4 29.2 30.6 34.0 57.4 1.9 22.2 30.5 15.4 12.2 11

 12 Net purchases (3) 296.5 296.2 317.1 483.1 365.9 346.0 580.4 485.1 561.5 688.7 12

 13 Household sector 32.9 12.5 -12.4 20.2 -102.1 76.2 -18.9 151.5 -239.5 -138.6 13

 14 State and local governments 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 3.8 11.9 14

 15 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world (4) 49.2 70.8 67.4 105.2 137.4 168.3 218.3 123.2 220.8 259.5 16

 17 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.7 57.0 130.9 17

 18 Other 49.2 70.8 67.4 105.2 137.4 168.3 218.3 117.6 163.8 128.6 18

 19 U.S.-chartered depository institutions -4.7 -14.7 8.0 60.4 61.2 47.2 38.9 -5.2 33.5 46.6 19

 20 MBS and other ABS -0.1 -7.2 -6.5 19.4 11.7 8.0 18.2 -7.8 31.3 8.6 20

 21 Other -4.6 -7.5 14.4 41.0 49.5 39.2 20.7 2.6 2.2 38.0 21

 22 Foreign banking offices in U.S. 4.0 3.0 2.2 5.2 -5.1 7.7 34.2 -1.0 0.1 24.2 22

 23 Banks in U.S.-affiliated areas -0.1 -0.1 0.1 0.5 -0.5 0.3 0.6 -0.3 0.4 -0.2 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 2.3 0.6 24

 25 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 2.3 0.6 26

 27 Property-casualty insurance companies 12.7 18.3 18.9 11.6 10.0 6.4 8.9 2.4 20.0 26.4 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other 12.7 18.3 18.9 11.6 10.0 6.4 8.9 2.4 20.0 26.4 29

 30 Life insurance companies 90.7 79.2 85.7 82.6 41.2 47.9 119.5 105.7 170.4 145.9 30

 31 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other 90.7 79.2 85.7 82.6 41.2 47.9 119.5 105.7 170.4 145.9 32

 33 Private pension funds 14.1 3.0 33.8 20.1 43.1 -76.6 -22.9 11.7 21.2 -7.6 33

 34 State and local govt. retirement funds 10.0 22.5 33.5 35.4 30.4 4.8 -35.0 -62.5 -9.9 41.5 34

 35 Federal government retirement funds 0.1 0.1 0.0 0.1 -0.0 0.0 0.9 1.3 0.7 0.3 35

 36 Money market mutual funds 6.4 2.4 12.5 45.8 42.6 23.5 23.8 7.2 39.9 -1.1 36

 37 Mutual funds 23.1 33.0 40.9 62.5 26.3 -10.5 65.2 50.6 77.8 62.9 37

 38 Closed-end funds 5.4 1.9 -0.0 4.7 1.8 -2.7 -3.8 0.1 31.6 8.5 38

 39 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 0.6 1.0 39

 40 Government-sponsored enterprises 9.9 8.1 6.0 24.6 28.8 19.1 24.6 33.5 33.5 192.0 40

 41 MBS and other ABS 9.9 8.1 5.9 24.5 28.8 12.4 20.6 37.7 38.0 119.0 41

 42 Other 0.0 0.0 0.2 0.1 0.0 6.7 4.0 -4.1 -4.5 73.0 42

 43 Finance companies 13.0 15.5 9.7 7.1 27.0 18.8 19.0 18.1 53.3 -7.7 43

 44 REITs 0.8 1.4 2.1 -0.4 3.1 0.2 0.4 0.6 8.5 17.1 44

 45 Brokers and dealers 11.7 13.1 5.7 -17.9 11.9 17.2 47.3 32.1 36.2 18.7 45

 46 Holding companies 0.6 2.8 5.0 -0.7 1.2 -2.8 2.1 -2.4 1.3 1.3 46

 47 Funding corporations 9.8 12.8 -3.4 4.5 -3.8 -8.9 45.8 -14.4 54.9 -14.5 47

(1) Net purchases of foreign issues by U.S. residents.

(2) Net issuance less net acquisition of corporate bonds held as assets.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
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48 Historical Annuals, 1995-2004, September 18, 2014

F.213 Corporate Equities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues -0.1 14.3 -47.7 -110.6 5.6 5.6 100.9 64.4 158.5 109.4 1

 2 Nonfinancial corporate business -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 2

 3 Rest of the world (2) 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 3

 4 Financial sectors -7.2 -21.3 -27.9 3.5 1.7 17.1 39.9 71.5 66.0 118.1 4

 5 U.S.-chartered depository institutions 2.6 3.2 3.2 3.8 3.8 4.4 8.2 5.5 9.1 5.6 5

 6 Property-casualty insurance companies -2.2 -4.8 -13.7 -4.7 -7.8 -4.5 0.5 6.2 4.1 -4.0 6

 7 Life insurance companies -3.6 -8.8 -4.0 -4.7 -6.0 -0.8 -0.9 -6.5 -3.9 -17.3 7

 8 Closed-end funds 8.0 0.3 -11.2 -6.8 -4.9 -5.5 1.9 18.0 43.6 32.3 8

 9 Exchange-traded funds 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 9

 10 REITs 7.6 12.3 32.5 19.8 6.6 2.2 6.1 8.4 13.3 21.5 10

 11 Government-sponsored enterprises -0.6 -0.4 -1.4 2.6 4.0 -0.3 1.6 -0.2 1.7 9.3 11

 12 Brokers and dealers -8.1 -6.5 -5.9 2.5 7.6 -4.2 6.7 10.2 -8.0 2.6 12

 13 Holding companies -11.3 -17.5 -30.9 -15.0 -13.8 -16.5 -15.3 -15.4 -9.6 11.7 13

 14 Funding corporations (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net purchases -0.1 14.3 -47.7 -110.6 5.6 5.6 100.9 64.4 158.5 109.4 15

 16 Household sector -72.2 -157.0 -221.4 -285.9 -149.6 -640.4 -490.0 -182.7 -105.1 -274.8 16

 17 State and local governments 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -8.0 5.4 17

 18 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Rest of the world (4) 3.5 -3.5 53.2 27.4 104.5 199.7 134.3 62.2 17.5 46.3 19

 20 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 U.S.-chartered depository institutions 2.8 2.4 0.8 2.8 1.3 0.7 3.4 1.3 1.4 -1.4 21

 22 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 22

 23 Property-casualty insurance companies -0.9 -7.1 2.6 -5.4 -1.7 0.3 -0.7 -1.0 -4.0 -4.5 23

 24 Life insurance companies 28.2 44.5 72.0 82.4 116.8 111.5 70.1 52.7 45.5 51.5 24

 25 Private pension funds -90.6 -91.3 -151.8 -30.8 -178.4 63.6 105.5 -63.6 -3.4 21.3 25

 26 State and local govt. retirement funds 19.3 18.0 13.3 -28.1 -11.8 13.6 118.0 92.0 33.4 9.3 26

 27 Federal government retirement funds 2.6 4.2 4.4 4.0 4.4 5.2 -0.6 7.7 16.7 8.6 27

 28 Mutual funds 87.4 193.0 166.8 143.3 136.4 193.1 109.8 31.4 137.2 158.5 28

 29 Closed-end funds -0.5 -2.6 -10.0 -11.8 -14.5 0.1 -1.3 9.3 8.2 21.6 29

 30 Exchange-traded funds 0.4 1.1 3.4 6.0 12.2 42.4 31.0 41.6 15.1 52.6 30

 31 Brokers and dealers 7.7 -1.9 2.4 -6.0 7.7 9.6 17.3 3.2 4.1 15.2 31

 32 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

(1) Excludes mutual fund shares shown on table F.214.

(2) Net purchases of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Preferred shares issued by AIG to the federal goverment under the TARP program and the monetary authority sector’s preferred interest in AIA Aurora LLC and ALICO Holdings LLC.

(4) Net purchases of U.S. issues by foreign residents.

F.214 Mutual Fund Shares (1)

Billions of dollars

 1 Net issues 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 1

 2 Net purchases 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 2

 3 Household sector 50.0 156.7 180.3 173.2 98.4 79.7 129.7 80.1 261.9 180.9 3

 4 Nonfinancial corporate business 4.6 9.1 1.7 14.6 9.8 0.3 4.3 -0.2 5.8 -1.3 4

 5 State and local governments -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -1.7 3.5 5

 6 Rest of the world 12.3 13.8 13.1 13.8 7.1 -9.2 -16.7 -9.2 13.9 11.5 6

 7 U.S.-chartered depository institutions 0.3 0.3 0.8 -0.4 2.3 2.5 7.8 1.7 -6.2 -0.9 7

 8 Credit unions 0.2 -0.3 -0.2 1.2 -1.1 -0.3 1.5 -0.2 0.5 -0.9 8

 9 Property-casualty insurance companies 0.3 0.3 0.4 0.3 0.1 0.4 0.4 -0.1 1.3 1.0 9

 10 Life insurance companies 3.9 4.5 7.2 9.4 10.1 5.5 2.2 2.6 0.5 12.8 10

 11 Private pension funds 68.6 51.6 65.3 61.5 65.6 107.0 43.4 76.0 15.9 86.9 11

 12 State and local govt. retirement funds 10.7 2.2 14.8 19.2 7.0 50.6 31.9 28.0 -4.0 3.1 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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Historical Annuals, 1995-2004, September 18, 2014 49

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 110.5 94.9 137.5 136.1 86.8 113.4 -81.6 -92.5 -52.6 51.2 1

 2 Household sector 18.5 -10.1 9.8 -7.6 -25.9 -4.4 -16.1 -24.0 8.0 -20.0 2

 3 Corporate business 77.3 43.8 55.1 80.7 48.6 55.2 -105.1 -103.4 -91.4 4.0 3

 4 Noncorporate business 11.5 29.2 46.7 25.5 49.6 50.4 43.5 23.7 10.4 33.0 4

 5 Rest of the world 6.6 10.1 16.3 5.4 -5.6 8.8 -15.2 -6.7 -0.5 1.0 5

 6 Foreign official institutions -0.2 0.5 -0.7 1.4 0.2 0.2 0.4 0.4 -1.0 1.0 6

 7 Foreign banks 2.0 3.3 -0.5 -0.7 -3.4 3.3 -6.2 -8.7 5.5 3.5 7

 8 Other foreign 4.8 6.3 17.5 4.7 -2.4 5.3 -9.3 1.7 -5.0 -3.5 8

 9 Financial sectors -3.3 21.9 9.5 32.1 20.1 3.4 11.2 17.9 20.9 33.4 9

 10 Finance companies -1.7 8.5 -0.0 6.0 13.8 3.6 20.5 16.8 5.8 30.0 10

 11 REITs -1.0 2.7 9.9 16.0 -7.1 -4.8 -3.1 1.8 -0.4 7.2 11

 12 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Holding companies -0.6 10.6 -0.3 10.1 13.4 4.5 -6.3 -0.7 15.5 -3.8 13

 14 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net change in assets 110.5 94.9 137.5 136.1 86.8 113.4 -81.6 -92.5 -52.6 51.2 15

 16 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 U.S.-chartered depository institutions 74.6 60.3 112.0 140.3 115.7 96.1 -62.2 -62.3 -33.2 39.6 17

 18 Foreign banking offices in U.S. 33.7 32.7 24.3 -5.5 -29.8 15.2 -24.6 -27.8 -22.0 4.9 18

 19 Banks in U.S.-affiliated areas 1.8 1.4 0.9 0.9 0.5 1.1 4.5 -4.3 0.3 1.8 19

 20 Credit unions 0.4 0.4 0.2 0.4 0.4 1.0 0.7 1.9 2.3 4.9 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table F.108.
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50 Historical Annuals, 1995-2004, September 18, 2014

F.216 Other Loans and Advances

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total other loans and advances 37.6 56.7 93.9 149.8 129.2 128.1 21.3 39.7 34.6 123.4 1

 2 U.S. government loans -13.5 2.6 5.9 -2.4 -7.0 -2.7 -7.8 -0.5 -1.8 -3.0 2

 3 Liab.: Household sector -9.7 9.3 -2.4 -0.4 -0.2 -1.2 -1.2 -0.9 -0.6 -0.9 3

 4 Nonfinancial corporate business -1.8 -0.7 0.4 -0.3 -0.3 0.1 -1.3 1.0 0.8 0.3 4

 5 Nonfinancial noncorporate business -1.4 -0.5 4.4 -0.9 -0.1 -1.4 -4.3 0.8 -0.1 1.0 5

 6 State and local governments 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 6

 7 Rest of the world 0.7 1.1 -0.0 0.6 -3.4 0.9 0.6 -0.5 -0.5 -1.7 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Foreign loans to U.S. corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 11

 12 Liab.: Nonfinancial corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 2.4 1.6 -0.2 -4.6 -2.5 -0.7 -2.3 0.3 -0.2 -0.5 13

 14 Foreign banking offices in U.S. -2.9 -0.6 -2.5 -4.7 -0.6 -0.0 -0.6 -0.4 -0.0 0.1 14

 15 Liab.: Nonfinancial corporate business -0.8 -0.7 -2.6 -4.3 -2.2 -0.0 -0.3 0.3 -0.2 -0.4 15

 16 Rest of the world 0.3 1.8 -0.2 -5.0 -0.9 -0.7 -2.6 -0.4 0.0 0.1 16

 17 Holding company loans 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 17

 18 Liab.: Nonfinancial corporate business 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Policy loans (Household liability) 10.5 4.5 3.2 0.1 -4.8 2.8 2.2 1.0 -0.7 1.6 20

 21 Asset: Federal government 0.1 0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 21

 22 Life insurance companies 10.4 4.5 3.2 0.1 -4.7 2.9 2.2 1.0 -0.7 1.6 22

 23 Govt.-sponsored enterprises loans (1) 7.2 29.4 35.4 93.5 108.1 45.3 28.3 8.9 31.1 73.5 23

 24 Liab.: Household sector (SLMA) -0.1 0.0 -0.2 -0.1 0.1 -0.3 -0.1 0.1 -0.1 -0.3 24

 25 Nonfinancial corporate business (FCS) 0.2 0.2 0.1 0.4 0.1 0.4 0.6 0.5 0.4 0.5 25

 26 Nonfinancial noncorporate business (FCS) 3.7 1.2 -0.1 2.9 0.8 2.7 2.3 1.5 -0.3 -0.8 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 3.6 26.8 35.2 89.0 104.2 43.2 23.3 2.8 26.1 68.8 27

 28 Credit unions (FHLB) -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 28

 29 Life insurance companies (FHLB) -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 29

 30 Securitized loans held by ABS issuers 5.9 8.1 24.4 23.8 -3.3 7.2 15.7 6.8 -1.0 0.0 30

 31 Liab.: Nonfinancial corporate business 5.9 8.1 24.4 23.8 -3.3 7.2 15.7 6.8 -1.0 0.0 31

 32 Finance company loans to business 26.7 3.1 -0.6 36.8 54.2 61.1 -16.0 3.8 -2.3 9.8 32

 33 Liab.: Nonfinancial corporate business 24.0 2.8 -0.5 33.1 48.8 55.0 -14.4 3.4 -2.1 8.8 33

 34 Nonfinancial noncorporate business 2.7 0.3 -0.1 3.7 5.4 6.1 -1.6 0.4 -0.2 1.0 34

 35 Loans to nonfinancial corporate business (2) 1.0 3.8 11.1 6.6 9.3 18.3 3.1 8.7 5.3 38.1 35

 36 Asset: Household sector 0.1 -0.1 0.1 -0.0 0.4 1.3 0.7 0.2 0.3 2.8 36

 37 Life insurance companies 0.0 0.0 1.1 1.9 0.3 1.1 0.7 1.1 0.6 1.9 37

 38 Mutual funds 0.2 0.8 3.4 2.7 2.9 4.3 -7.3 0.5 -1.1 9.6 38

 39 ABS issuers 0.1 0.2 2.0 1.8 3.2 6.9 7.8 9.4 6.2 18.9 39

 40 Brokers and dealers 0.3 1.4 3.5 -0.7 0.1 2.1 1.3 -1.3 0.1 5.2 40

 41 Funding corporations 0.2 1.5 1.0 0.9 2.5 2.7 -0.1 -1.2 -0.9 -0.3 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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Historical Annuals, 1995-2004, September 18, 2014 51

F.217 Total Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in mortgages 186.4 267.8 313.5 484.6 574.6 559.3 709.0 902.3 999.3 1260.5 1

 2 Home 167.5 223.2 234.6 356.5 427.5 425.0 553.1 756.3 814.2 1022.2 2

 3 Multifamily residential 6.1 12.3 11.9 34.3 40.3 29.3 42.2 39.0 70.5 50.2 3

 4 Commercial 11.1 29.6 62.9 89.2 102.7 107.5 109.9 100.1 126.9 175.7 4

 5 Farm 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 5

 6 Net borrowing 186.4 267.8 313.5 484.6 574.6 559.3 709.0 902.3 999.3 1260.5 6

 7 Household sector 153.1 209.2 219.0 311.3 381.8 395.2 517.0 718.3 878.3 939.7 7

 8 Nonfinancial business 28.0 50.8 79.6 148.5 185.7 159.5 189.8 172.7 112.1 295.3 8

 9 Corporate -1.0 10.6 28.7 0.8 47.5 24.9 66.2 47.2 48.0 74.7 9

 10 Noncorporate 29.0 40.2 50.9 147.7 138.1 134.6 123.6 125.6 64.1 220.6 10

 11 Federal government 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 12

 13 Net change in assets 186.4 267.8 313.5 484.6 574.6 559.3 709.0 902.3 999.3 1260.5 13

 14 Household sector -7.2 -7.5 -7.1 -4.3 7.3 1.9 5.3 7.9 5.1 10.4 14

 15 Nonfinancial corporate business 1.6 -3.6 25.9 -13.0 -26.0 2.3 3.1 2.9 2.2 14.8 15

 16 Nonfinancial noncorporate business -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 16

 17 State and local governments 3.3 3.8 3.7 6.1 4.4 -1.3 -0.8 -5.3 4.9 15.0 17

 18 Federal government -13.5 -7.2 -4.5 -0.8 -0.1 -0.9 -1.1 0.5 -2.5 1.6 18

 19 U.S.-chartered depository institutions 82.3 89.1 109.0 108.0 185.2 216.5 160.8 288.6 284.4 520.8 19

 20 Foreign banking offices in U.S. -5.1 -2.9 -6.1 -5.7 -4.5 1.2 0.7 1.1 -1.5 -0.6 20

 21 Banks in U.S.-affiliated areas 0.9 0.6 0.6 1.5 1.7 1.9 3.3 1.7 4.1 6.5 21

 22 Credit unions 4.0 9.1 9.9 10.4 13.8 12.8 15.7 16.3 20.9 25.7 22

 23 Property-casualty insurance companies -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 23

 24 Life insurance companies -2.6 -5.0 -1.3 6.8 15.7 5.2 7.1 7.0 10.9 12.4 24

 25 Private pension funds 0.8 0.7 0.8 -0.2 1.8 0.2 -2.2 0.6 -0.1 -0.2 25

 26 State and local govt. retirement funds 0.7 0.8 0.9 4.8 3.3 -3.6 -1.1 0.1 -0.7 -5.4 26

 27 Government-sponsored enterprises (1) 6.3 -6.4 -4.7 7.6 -5.0 22.2 33.2 59.8 101.7 7.5 27

 28 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 28

 29 ABS issuers 16.9 36.1 62.8 127.9 70.6 65.5 122.2 112.2 173.7 445.8 29

 30 Finance companies 2.1 21.2 1.9 32.3 34.4 42.6 20.3 72.3 39.7 105.8 30

 31 REITs 0.8 -0.3 9.1 3.4 -0.4 -6.0 0.4 10.2 20.7 54.7 31
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52 Historical Annuals, 1995-2004, September 18, 2014

F.218 Home Mortgages (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net borrowing 167.5 223.2 234.6 356.5 427.5 425.0 553.1 756.3 814.2 1022.2 1

 2 Household sector 153.6 205.1 215.9 301.5 379.2 383.5 508.2 706.1 872.0 934.7 2

 3 Nonfinancial corporate business -0.1 1.1 0.3 1.4 2.1 2.0 2.1 0.7 1.9 4.7 3

 4 Nonfinancial noncorporate business 13.9 17.0 18.4 53.7 46.2 39.5 42.8 49.5 -59.7 82.8 4

 5 Net change in assets 167.5 223.2 234.6 356.5 427.5 425.0 553.1 756.3 814.2 1022.2 5

 6 Household sector -8.7 -8.9 -8.9 -4.9 7.1 7.1 6.8 6.1 6.1 6.6 6

 7 Nonfinancial corporate business 1.1 -9.3 5.3 -2.7 -6.9 1.2 1.5 1.9 1.2 13.8 7

 8 Nonfinancial noncorporate business -0.8 -0.5 -0.6 2.7 -0.9 -0.2 1.2 -0.2 0.0 1.6 8

 9 State and local governments 3.2 2.3 3.0 -0.8 2.3 -0.6 -0.4 -2.7 3.2 7.7 9

 10 Federal government -4.9 -3.0 -2.1 -0.3 -0.4 -0.7 -0.6 -0.9 -0.9 -0.5 10

 11 U.S.-chartered depository institutions 60.5 61.8 74.9 63.4 97.2 131.1 85.5 208.1 201.9 389.9 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Banks in U.S.-affiliated areas 1.0 0.6 0.1 1.1 0.6 1.0 -0.9 1.5 2.5 3.4 13

 14 Credit unions 4.0 9.1 9.9 10.4 13.8 12.8 15.7 16.3 20.9 25.7 14

 15 Life insurance companies 0.3 -1.9 0.3 -0.6 0.1 -0.8 0.4 -1.1 1.7 -0.4 15

 16 Private pension funds 0.7 0.6 0.8 0.1 0.7 1.1 -3.1 -1.8 -1.1 -0.2 16

 17 State and local govt. retirement funds 0.5 0.6 0.6 1.5 1.0 -1.1 -0.3 0.7 -0.3 -1.9 17

 18 Government-sponsored enterprises 5.4 -6.6 -4.7 5.6 -10.4 16.1 21.7 45.6 94.2 -10.5 18

 19 Agency- and GSE-backed mortgage pools 93.8 135.4 109.3 182.1 264.6 190.9 322.9 315.2 308.3 43.8 19

 20 ABS issuers 10.8 21.6 38.4 68.1 31.9 31.1 79.1 81.7 123.4 390.2 20

 21 Finance companies -1.2 20.5 2.4 30.0 28.0 39.5 22.8 75.9 34.6 101.8 21

 22 REITs 1.9 1.1 6.0 0.8 -1.2 -3.5 0.8 10.1 18.5 51.1 22

 Memo:

 23 Charge-offs (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Home equity loans included above (3) 15.7 25.1 34.4 13.0 24.4 73.6 31.0 61.8 92.7 182.5 24

 25 U.S.-chartered depository institutions 11.4 15.5 23.3 3.4 16.4 58.6 28.8 45.2 79.8 143.2 25

 26 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 26

 27 Credit unions 2.0 2.6 3.5 0.7 3.7 7.3 4.2 3.0 3.7 12.2 27

 28 ABS issuers 0.6 0.8 1.3 2.1 1.5 2.0 2.0 2.6 1.2 7.4 28

 29 Finance companies 1.6 6.1 6.3 6.7 2.8 5.7 -3.9 10.9 8.0 19.7 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from the flow (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars

 1 Net borrowing 6.1 12.3 11.9 34.3 40.3 29.3 42.2 39.0 70.5 50.2 1

 2 Nonfinancial corporate business 0.2 0.5 0.3 1.3 1.9 1.3 2.0 1.9 3.5 2.3 2

 3 Nonfinancial noncorporate business 4.1 9.2 6.6 24.8 36.4 25.0 38.7 35.4 66.5 44.3 3

 4 Federal government 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 1.8 2.6 4.9 8.2 2.1 3.1 1.5 1.7 0.5 3.6 5

 6 Net change in assets 6.1 12.3 11.9 34.3 40.3 29.3 42.2 39.0 70.5 50.2 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.8 0.7 0.6 -0.3 -0.2 -0.1 0.1 0.0 0.0 0.0 8

 9 Nonfinancial noncorporate business -0.7 -0.5 -0.5 2.6 -0.8 -0.2 1.2 -0.2 0.0 1.6 9

 10 State and local governments 0.6 1.8 0.6 4.5 1.8 -0.5 -0.3 -2.1 2.0 6.0 10

 11 Federal government -4.3 -2.9 -0.9 -0.3 -0.0 0.3 -0.2 0.5 0.2 0.4 11

 12 U.S.-chartered depository institutions 2.3 2.5 2.2 2.5 15.3 12.1 10.4 13.4 19.6 23.8 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies 0.9 2.0 -0.3 1.4 0.8 0.9 2.0 1.2 1.7 1.9 14

 15 Private pension funds -0.0 0.0 -0.0 -0.1 0.2 0.0 0.3 0.5 0.3 0.0 15

 16 State and local govt. retirement funds 0.2 0.2 0.2 1.3 0.9 -1.0 -0.2 0.3 -0.2 -1.6 16

 17 Government-sponsored enterprises 0.5 -0.8 -1.5 -0.0 4.3 4.5 8.2 8.5 12.1 14.3 17

 18 Agency- and GSE-backed mortgage pools 4.5 5.6 5.3 10.5 9.2 8.5 15.6 12.9 26.5 -3.0 18

 19 ABS issuers 2.1 3.8 4.6 12.8 8.5 5.4 6.0 5.5 7.9 6.8 19

 20 Finance companies 1.3 0.0 0.8 -0.5 0.0 0.0 -0.5 -1.4 0.0 -0.1 20

 21 REITs -0.6 -0.4 0.9 0.1 0.2 -0.6 -0.3 -0.1 0.2 0.1 21
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Historical Annuals, 1995-2004, September 18, 2014 53

F.220 Commercial Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net borrowing 11.1 29.6 62.9 89.2 102.7 107.5 109.9 100.1 126.9 175.7 1

 2 Household sector -0.6 4.1 3.1 9.9 2.5 11.6 8.8 12.2 6.3 5.0 2

 3 Nonfinancial corporate business -1.7 8.3 27.2 -3.0 42.5 21.2 60.6 42.3 43.4 64.5 3

 4 Nonfinancial noncorporate business 9.7 12.0 22.6 65.7 52.5 73.0 39.7 36.1 68.8 84.3 4

 5 REITs 3.6 5.3 10.0 16.6 5.1 1.7 0.7 9.5 8.4 21.9 5

 6 Net change in assets 11.1 29.6 62.9 89.2 102.7 107.5 109.9 100.1 126.9 175.7 6

 7 Household sector 0.9 0.6 0.6 0.9 0.8 1.7 -0.7 1.3 1.0 1.3 7

 8 Nonfinancial corporate business 1.2 5.1 20.0 -10.0 -19.0 1.1 1.5 1.0 1.0 1.0 8

 9 Nonfinancial noncorporate business -0.6 -0.4 -0.4 2.0 -0.5 -0.2 0.9 -0.2 0.0 1.2 9

 10 State and local governments -0.5 -0.2 0.2 2.5 0.4 -0.1 -0.1 -0.4 0.4 1.2 10

 11 Federal government -3.8 -0.9 -0.7 0.1 0.6 -0.4 -0.1 1.2 -1.6 1.8 11

 12 U.S.-chartered depository institutions 18.3 23.7 29.9 40.2 70.4 71.1 63.7 65.2 66.9 101.5 12

 13 Foreign banking offices in U.S. -5.1 -2.9 -6.1 -5.7 -4.5 1.2 0.7 1.1 -1.5 -0.6 13

 14 Banks in U.S.-affiliated areas -0.0 -0.1 0.5 0.4 1.2 0.8 4.2 0.2 1.6 3.1 14

 15 Property-casualty insurance companies -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 15

 16 Life insurance companies -4.0 -5.6 -1.5 5.0 14.1 4.7 4.6 6.7 8.9 10.1 16

 17 Private pension funds 0.1 0.1 0.1 -0.2 0.9 -0.9 0.6 2.0 0.8 0.0 17

 18 State and local govt. retirement funds 0.0 -0.0 -0.0 2.0 1.3 -1.5 -0.6 -0.9 -0.2 -1.8 18

 19 Agency- and GSE-backed mortgage pools -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers 4.0 10.7 19.8 47.1 30.2 29.0 37.1 25.0 42.4 48.8 20

 21 Finance companies 2.0 0.7 -1.3 2.7 6.3 3.1 -2.0 -2.2 5.1 4.1 21

 22 REITs -0.5 -1.0 2.2 2.5 0.6 -2.0 -0.1 0.2 2.0 3.5 22

F.221 Farm Mortgages (1)

Billions of dollars

 1 Net borrowing 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 1

 2 Nonfinancial corporate business 0.6 0.7 0.8 1.1 1.0 0.4 1.5 2.3 -0.8 3.2 2

 3 Nonfinancial noncorporate business 1.2 2.0 3.3 3.5 3.1 -2.9 2.4 4.6 -11.4 9.3 3

 4 Net change in assets 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 4

 5 Household sector 0.6 0.8 1.2 -0.2 -0.6 -6.9 -0.9 0.6 -2.0 2.5 5

 6 Nonfinancial noncorporate business -0.0 -0.0 -0.0 0.2 -0.0 -0.0 0.1 -0.0 0.0 0.1 6

 7 State and local governments -0.0 -0.1 -0.0 -0.1 0.0 -0.0 -0.0 -0.1 -0.6 0.1 7

 8 Federal government -0.5 -0.5 -0.9 -0.3 -0.2 -0.1 -0.2 -0.3 -0.3 -0.2 8

 9 U.S.-chartered depository institutions 1.2 1.1 2.0 2.0 2.4 2.2 1.3 2.0 -4.0 5.6 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 0.1 0.4 0.3 1.0 0.7 0.4 0.2 0.2 -1.4 0.7 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 0.3 1.0 1.5 2.0 1.1 1.6 3.3 5.7 -4.6 3.8 13

 14 Agency- and GSE-backed mortgage pools 0.1 -0.0 0.0 0.1 0.8 0.3 0.0 -1.3 0.6 -0.1 14

(1) Excludes mortgages on farm houses.
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54 Historical Annuals, 1995-2004, September 18, 2014

F.222 Consumer Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities (Households) 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 1

 2 Net change in assets 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 2

 3 Households (nonprofit organizations) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.7 -15.7 0.1 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 6

 7 U.S.-chartered depository institutions 45.2 29.7 -9.9 2.1 5.1 46.4 23.7 31.7 62.0 48.3 7

 8 Credit unions 12.3 12.2 8.2 3.0 12.5 16.5 5.1 6.2 10.1 9.5 8

 9 Government-sponsored enterprises 4.0 -0.6 -4.2 -1.2 5.4 -3.9 2.4 -2.6 -16.3 -20.6 9

 10 ABS issuers 67.0 60.4 47.0 73.5 62.7 67.7 69.4 32.6 -21.6 -23.2 10

 11 Finance companies 17.7 2.8 12.6 15.8 18.3 32.8 45.5 27.5 85.5 99.3 11

 Memo:

 12 Credit card loans (3) 81.8 59.5 31.1 42.1 29.8 74.8 32.8 37.0 18.3 34.0 12

 13 Auto loans 36.9 30.6 25.5 38.4 49.4 66.2 93.0 34.6 50.7 38.4 13

 14 Student loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other consumer credit (5) 28.4 15.6 13.7 16.5 33.2 35.6 24.7 33.6 37.0 44.8 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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Historical Annuals, 1995-2004, September 18, 2014 55

F.223 Trade Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in trade payables 117.8 116.2 125.8 109.0 257.3 394.4 -82.0 91.1 17.5 189.9 1

 2 Household sector 7.9 8.0 8.9 8.7 4.1 3.8 -1.9 19.1 4.8 16.5 2

 3 Nonfinancial corporate business 81.2 49.7 65.3 57.7 178.5 312.6 -103.6 19.8 -54.7 97.7 3

 4 Nonfinancial noncorporate business 13.8 31.8 31.9 30.3 34.5 41.5 -4.8 25.4 -26.2 23.7 4

 5 State and local governments 17.2 18.2 19.6 20.8 22.8 25.0 27.0 28.3 28.8 30.0 5

 6 Federal government -4.5 1.1 -8.3 -7.6 0.2 5.7 3.2 1.0 71.7 15.4 6

 7 Rest of the world 1.1 3.3 2.8 0.0 5.2 0.7 -5.3 -0.6 2.3 -1.1 7

 8 Brokers and dealers 1.1 4.0 5.7 -1.0 11.9 5.1 3.3 -1.8 -9.2 7.8 8

 9 Net change in trade receivables 118.6 138.7 150.7 123.2 241.6 389.0 -83.2 -65.1 -13.3 187.0 9

 10 Nonfinancial corporate business 78.0 88.1 88.0 87.3 209.2 281.6 -121.3 -98.4 -17.7 128.8 10

 11 Nonfinancial noncorporate business 15.3 29.5 35.1 28.2 39.4 69.6 1.8 18.9 -25.1 26.6 11

 12 State and local governments 6.1 5.6 6.3 7.0 8.7 4.9 6.0 2.6 -1.9 8.5 12

 13 Federal government -1.6 0.9 -3.2 1.5 4.6 5.3 7.3 -3.3 19.1 10.5 13

 14 Rest of the world 0.7 5.5 0.9 -6.5 -4.5 10.4 5.2 15.8 -1.0 2.0 14

 15 Property-casualty insurance companies 4.4 -0.1 2.7 1.6 2.0 1.0 5.3 4.9 4.5 0.3 15

 16 ABS issuers 15.8 9.1 20.9 4.0 -17.8 16.1 12.6 -5.6 8.8 10.3 16

 17 Discrepancy -0.8 -22.6 -24.9 -14.2 15.8 5.4 1.2 156.2 30.8 2.9 17

F.224 Security Credit

Billions of dollars

 1 Net change in liabilities 33.7 63.3 69.8 91.3 134.8 118.0 -2.2 -114.5 119.8 197.3 1

 2 Household sector 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 2

 3 Brokers and dealers 30.1 47.5 33.0 69.7 59.6 110.8 36.6 -66.3 85.5 115.8 3

 4 Net change in assets 33.7 63.3 69.8 91.3 134.8 118.0 -2.2 -114.5 119.8 197.3 4

 5 Household sector 29.6 44.5 29.9 72.5 57.3 111.1 41.4 -60.3 79.2 114.1 5

 6 U.S.-chartered depository institutions -0.3 0.3 0.6 -1.2 2.1 -2.4 -1.0 -4.1 9.0 1.0 6

 7 Foreign banking offices in U.S. 0.8 2.6 2.5 -1.6 0.2 2.1 -3.8 -1.9 -2.7 0.6 7

 8 Brokers and dealers 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 8
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56 Historical Annuals, 1995-2004, September 18, 2014

F.225 Life Insurance Reserves

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 1

 2 Federal government 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 2

 3 Life insurance companies 44.8 43.8 57.6 46.3 51.7 48.7 76.1 60.6 67.4 32.0 3

 4 Net change in assets 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 4

 5 Households 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

F.226 Pension Entitlements

Billions of dollars

 1 Net change in liabilities 340.3 312.8 392.0 485.7 379.3 468.4 497.1 515.3 531.7 638.0 1

 2 Life insurance companies (1) 72.4 36.7 79.8 106.5 77.7 158.4 158.2 180.4 51.0 147.3 2

 3 Private pension funds (2) 89.6 91.2 97.1 154.2 72.8 101.3 105.6 85.8 196.7 195.1 3

 4 State and local govt. retirement funds 105.0 111.3 141.3 148.9 150.5 129.0 151.0 154.0 180.8 200.0 4

 5 Federal government retirement funds (3) 73.3 73.6 73.8 76.1 78.2 79.8 82.3 95.2 103.2 95.6 5

 6 Net change in assets (Households) (4) 340.3 312.8 392.0 485.7 379.3 468.4 497.1 515.3 531.7 638.0 6

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs) (table F.226.i), except those at life insurance companies.

F.227 Taxes Payable by Businesses

Billions of dollars

 1 Net change in taxes payable by all 8.6 16.0 21.7 13.2 20.2 28.9 11.8 9.4 -1.9 20.5 1

 businesses

 2 Nonfinancial corporate business -0.0 9.6 9.3 4.8 7.0 7.0 3.1 11.9 -11.7 6.8 2

 3 Nonfinancial noncorporate business 0.6 2.3 4.3 4.1 8.9 11.7 4.0 1.5 -0.5 8.4 3

 4 U.S.-chartered depository institutions 5.1 2.0 5.3 3.1 2.0 9.7 3.8 10.0 1.7 -0.5 4

 5 Property-casualty insurance companies 0.7 0.6 0.5 -1.1 0.1 0.1 0.3 -7.4 4.7 0.5 5

 6 Life insurance companies 1.6 0.5 1.4 1.5 0.5 -0.4 -0.4 -7.4 1.9 3.1 6

 7 Finance companies 0.7 0.8 0.8 0.8 0.8 1.0 1.2 1.4 1.6 1.8 7

 8 Brokers and dealers -0.1 0.1 0.1 -0.1 0.9 -0.1 -0.2 -0.5 0.4 0.4 8

 9 Net change in business taxes receivable -7.0 2.0 -6.1 -4.3 11.1 -11.4 -6.8 -1.2 35.2 36.1 9

 10 State and local governments 0.9 2.3 4.2 5.0 9.9 10.6 3.0 1.5 0.8 12.9 10

 11 Federal government -7.9 -0.3 -10.3 -9.3 1.2 -22.0 -9.8 -2.8 34.4 23.3 11

 12 Discrepancy 15.6 14.0 27.8 17.5 9.1 40.3 18.6 10.7 -37.1 -15.7 12

F.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment 17.9 -4.0 -20.3 -38.4 -69.6 -21.4 -22.2 -73.5 51.9 68.2 1

 2 Nonfinancial noncorporate business 18.4 -4.3 -21.4 -37.0 -70.8 -21.2 -18.9 -74.1 55.3 72.4 2

 3 Brokers and dealers -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 3
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Historical Annuals, 1995-2004, September 18, 2014 57

F.229 Direct Investment

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 98.8 91.9 104.8 142.6 224.9 159.2 142.3 154.5 149.6 316.2 1

 2 Equity 94.4 82.2 98.8 116.6 163.2 171.6 130.7 128.0 156.2 296.2 2

 3 Equity (other than reinvested earnings) 40.5 27.5 40.8 72.4 98.9 78.0 60.9 42.7 35.5 133.3 3

 4 Reinvested earnings 53.9 54.7 58.0 44.2 64.2 93.6 69.8 85.3 120.7 162.9 4

 5 Of which: Current-cost adjustment 6.7 7.5 9.0 11.6 15.5 16.6 17.5 19.5 20.2 21.3 5

 6 Intercompany debt (2) 4.4 9.7 6.0 26.0 61.8 -12.4 11.6 26.5 -6.6 20.0 6

 7 U.S. parents’ claims 14.4 14.0 17.0 43.3 82.4 -5.5 23.4 39.5 18.0 57.0 7

 8 Less: U.S. parents’ liabilities 10.1 4.3 11.0 17.3 20.6 6.9 11.8 13.0 24.6 36.9 8

 9 Asset: Nonfinancial corporate business 90.3 76.8 84.3 129.2 200.7 138.0 123.8 131.1 125.3 272.4 9

 10 Of which: Current-cost adjustment 6.7 7.5 9.0 11.6 15.5 16.6 17.5 19.5 20.2 21.3 10

 11 U.S.-chartered depository institutions 1.6 3.5 3.0 2.0 2.9 10.9 1.8 3.0 6.5 8.2 11

 12 Property-casualty insurance companies 3.8 3.6 6.1 6.9 7.1 4.4 -1.4 11.2 3.6 9.1 12

 13 Life insurance companies 0.4 0.8 1.8 0.7 1.5 1.1 1.3 2.9 0.9 1.8 13

 14 Finance companies 2.5 7.3 9.0 0.5 8.5 -0.6 -0.6 0.8 1.8 -8.9 14

 15 Brokers and dealers 0.1 -0.1 0.7 3.4 4.2 5.5 17.5 5.4 11.6 33.6 15

 Foreign direct investment in U.S.:

 16 Liab.: Nonfinancial corporate business 54.9 71.5 99.0 144.9 183.1 249.5 141.4 74.4 40.0 96.0 16

 17 Of which: Current-cost adjustment -1.0 2.0 2.2 4.6 6.1 7.3 7.6 9.9 10.6 10.1 17

 18 Nonfinancial noncorporate business -0.1 0.3 0.5 0.2 0.6 -0.0 -0.0 0.4 -0.1 -0.2 18

 19 Foreign banking offices in U.S. 6.6 -0.1 7.7 5.5 19.5 5.8 6.4 2.1 4.2 17.9 19

 20 Property-casualty insurance companies 2.0 5.7 5.9 1.3 11.3 6.8 3.1 7.7 3.0 -4.8 20

 21 Life insurance companies 1.8 1.0 7.0 2.7 11.7 30.1 3.4 3.7 -5.2 20.8 21

 22 Finance companies 0.8 1.5 1.2 3.5 6.9 10.9 6.2 0.1 18.8 13.0 22

 23 Brokers and dealers 1.9 3.6 5.9 -0.6 5.2 3.1 5.6 -3.6 2.9 3.1 23

 24 Funding corporations -10.2 2.9 -21.6 21.6 51.0 15.1 1.1 -0.4 0.2 0.3 24

 25 Asset: Rest of the world (1) 57.8 86.5 105.6 179.0 289.4 321.3 167.0 84.4 63.8 146.0 25

 26 Equity 56.3 72.2 74.5 149.9 225.7 259.4 107.1 106.9 107.7 142.4 26

 27 Equity (other than reinvested earnings) 47.9 63.7 59.5 147.1 221.6 259.6 140.9 105.3 93.4 92.9 27

 28 Reinvested earnings 8.4 8.5 15.0 2.8 4.1 -0.3 -33.9 1.6 14.3 49.5 28

 29 Of which: Current-cost adjustment -1.0 2.0 2.2 4.6 6.1 7.3 7.6 9.9 10.6 10.1 29

 30 Intercompany debt 1.5 14.3 31.1 29.1 63.8 61.9 60.0 -22.6 -44.0 3.5 30

 31 U.S. affiliates’ liabilities 2.7 21.1 36.7 44.0 66.5 83.8 52.6 -10.5 -21.0 28.5 31

 32 Less: U.S. affiliates’ claims 1.2 6.8 5.6 14.9 2.7 21.9 -7.3 12.1 23.0 25.0 32

 Memo:

 Direct investment, asset/liability presentation:

 33 Net U.S. acquisition of direct investment assets 110.0 103.0 121.4 174.8 248.3 188.0 146.8 179.6 197.2 378.1 33

 34 Equity (line 2) 94.4 82.2 98.8 116.6 163.2 171.6 130.7 128.0 156.2 296.2 34

 35 Intercompany debt 15.6 20.8 22.5 58.1 85.1 16.4 16.1 51.6 41.0 82.0 35

 36 U.S. parents’ claims (line 7) 14.4 14.0 17.0 43.3 82.4 -5.5 23.4 39.5 18.0 57.0 36

 37 U.S. affiliates’ claims (line 32) 1.2 6.8 5.6 14.9 2.7 21.9 -7.3 12.1 23.0 25.0 37

 38 Net U.S. incurrence of direct investment liabilities 69.1 97.6 122.2 211.2 312.8 350.1 171.5 109.5 111.3 207.9 38

 39 Equity (line 26) 56.3 72.2 74.5 149.9 225.7 259.4 107.1 106.9 107.7 142.4 39

 40 Intercompany debt 12.8 25.4 47.7 61.2 87.1 90.7 64.4 2.5 3.6 65.4 40

 41 U.S. parents’ liabilities (line 8) 10.1 4.3 11.0 17.3 20.6 6.9 11.8 13.0 24.6 36.9 41

 42 U.S. affiliates’ liabilities (line 31) 2.7 21.1 36.7 44.0 66.5 83.8 52.6 -10.5 -21.0 28.5 42

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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58 Historical Annuals, 1995-2004, September 18, 2014

F.230 Total Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 402.8 535.7 413.4 728.8 860.2 1000.9 565.5 578.0 850.3 1423.6 1

 2 Household sector 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 2

 3 Nonfinancial corporate business 129.5 154.5 -90.4 247.0 357.3 429.1 -71.8 3.4 62.6 363.5 3

 4 Nonfinancial noncorporate business 13.6 29.4 56.0 92.1 73.7 85.9 55.2 18.7 23.4 68.8 4

 5 State and local governments 39.3 60.6 36.4 60.7 82.0 35.0 55.8 97.3 118.9 124.0 5

 6 Federal government 80.6 54.6 67.8 62.3 68.2 74.5 65.5 89.2 96.6 100.3 6

 7 Rest of the world 5.6 5.9 0.8 0.8 6.2 -31.0 -1.7 1.0 45.6 -23.6 7

 8 Monetary authority 1.4 -0.0 2.1 0.6 -0.9 1.0 -2.3 1.1 0.2 4.2 8

 9 U.S.-chartered depository institutions 50.2 64.2 103.8 20.1 49.9 151.0 10.3 241.7 99.8 340.9 9

 10 Foreign banking offices in U.S. 12.2 11.7 26.8 8.8 9.5 56.3 -33.6 38.6 8.0 30.9 10

 11 Banks in U.S.-affiliated areas 3.1 0.4 4.6 6.9 2.4 0.2 5.3 -1.0 3.4 11.8 11

 12 Credit unions -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 12

 13 Property-casualty insurance companies 20.8 6.6 4.8 4.3 2.5 -0.8 26.1 44.1 46.6 47.9 13

 14 Life insurance companies 1.9 17.8 44.0 20.1 21.1 -40.2 7.0 17.4 115.1 40.3 14

 15 Government-sponsored enterprises 6.0 0.6 8.9 21.0 -5.5 -0.1 50.3 39.3 -41.6 -6.7 15

 16 Finance companies 19.8 2.1 -1.8 -13.9 65.2 122.9 47.7 67.7 108.4 40.3 16

 17 REITs 1.4 2.5 8.8 13.6 4.6 1.8 0.1 2.8 1.5 8.3 17

 18 Brokers and dealers 11.1 27.0 21.3 43.1 3.9 -7.0 139.8 -79.4 35.9 67.8 18

 19 Holding companies 26.4 18.0 39.2 63.8 -12.9 49.5 73.7 42.1 62.8 162.0 19

 20 Funding corporations -18.8 78.9 79.8 78.5 129.9 73.3 140.2 -48.9 60.5 39.6 20

 21 Net change in assets 606.2 717.0 730.2 958.8 1016.6 1359.1 784.8 568.5 772.5 1599.9 21

 22 Household sector 17.6 10.6 12.7 9.2 11.4 6.1 19.0 47.1 56.4 52.5 22

 23 Nonfinancial corporate business 227.8 226.5 55.0 292.1 458.6 678.8 127.2 69.4 -126.9 281.0 23

 24 Nonfinancial noncorporate business 37.4 36.3 56.6 124.9 82.5 89.9 130.5 41.0 51.1 236.0 24

 25 State and local governments 54.5 1.6 72.1 -0.5 -12.9 -21.6 -15.1 -26.2 -4.7 6.5 25

 26 Federal government -2.1 -6.7 -3.5 7.1 5.1 4.6 2.0 3.1 1.8 3.4 26

 27 Monetary authority -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 27

 28 U.S.-chartered depository institutions -30.7 32.4 43.2 -16.5 39.2 58.1 42.8 136.5 90.6 210.5 28

 29 Foreign banking offices in U.S. -9.3 -9.2 1.2 6.2 2.3 -3.7 -1.4 4.2 -6.7 1.2 29

 30 Banks in U.S.-affiliated areas 1.6 0.8 1.8 3.1 -1.0 -2.1 5.9 -6.0 -2.2 0.9 30

 31 Credit unions -0.8 -0.2 3.8 6.8 -15.0 10.2 8.6 5.9 -8.0 -0.3 31

 32 Life insurance companies 13.3 6.7 24.0 20.1 -8.3 28.0 16.2 -11.6 23.3 20.9 32

 33 Private pension funds 79.3 113.0 112.6 100.1 105.5 73.9 46.0 73.0 107.9 90.8 33

 34 State and local govt. retirement funds 39.7 61.3 52.2 77.9 101.5 30.0 53.2 86.9 138.8 160.8 34

 35 Federal government retirement funds 76.1 57.9 67.5 69.4 71.2 72.5 73.3 74.3 79.5 81.9 35

 36 Money market mutual funds 11.6 4.4 14.3 3.4 23.3 8.8 -10.1 -2.3 -17.1 7.3 36

 37 Mutual funds 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 37

 38 Government-sponsored enterprises -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 38

 39 Finance companies 2.9 -2.7 5.5 -34.7 5.6 35.2 16.4 12.8 37.7 -17.2 39

 40 REITs 1.0 -1.7 4.9 10.7 -1.3 1.9 0.6 2.6 4.3 11.1 40

 41 Brokers and dealers 10.2 68.3 82.1 112.5 24.0 127.6 139.1 -116.2 145.0 115.0 41

 42 Holding companies 55.3 44.8 58.9 119.0 56.3 117.7 125.9 111.8 162.8 284.8 42

 43 Funding corporations 24.5 65.2 49.4 47.2 68.4 46.7 2.1 38.7 18.2 41.5 43

 44 Discrepancy -203.3 -181.3 -316.7 -230.0 -156.4 -358.2 -219.2 9.6 77.8 -176.2 44
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Historical Annuals, 1995-2004, September 18, 2014 59

F.231 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 1

 2 Asset: Federal government 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 3

 4 Asset: U.S.-chartered depository institutions 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 4

 Equity in govt.-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 2.0 1.5 1.8 4.1 6.1 2.2 3.3 2.0 3.2 2.5 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 6

 7 Nonfinancial noncorporate (FCS) -0.1 0.1 -0.0 0.0 -0.0 0.0 0.5 0.1 0.6 0.0 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 2.0 1.3 1.7 3.9 5.7 2.0 2.6 1.4 1.6 1.6 9

 10 Credit unions (FHLB) 0.1 0.0 0.0 0.1 0.2 0.1 0.2 0.3 0.2 0.2 10

 11 Life insurance companies (FHLB) -0.0 0.1 0.0 0.0 0.1 0.0 -0.1 0.2 0.7 0.6 11

 Holding company net transactions with subsidiaries:

 12 Liab.: U.S.-chartered depository institutions 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 12

 13 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 -1.4 4.0 3.8 2.5 14

 15 Finance companies 3.4 2.9 3.6 0.9 47.9 25.3 35.7 16.2 20.8 52.3 15

 16 Brokers and dealers 6.5 -10.3 3.5 38.2 -31.0 2.6 -15.8 -22.5 19.7 2.1 16

 17 Rest of the world 3.8 4.1 -0.8 -0.6 4.1 -32.5 -3.3 -0.6 44.1 -25.6 17

 18 Asset: Holding companies 52.7 30.4 37.7 99.6 45.5 90.1 75.6 63.5 108.3 250.4 18

 NFC investment in finance company subsidiaries:

 19 Liab.: Finance companies 5.9 0.6 4.9 -10.0 10.6 65.2 -17.8 6.9 2.6 2.6 19

 20 Asset: Nonfinancial corporate business 5.9 0.6 4.9 -10.0 10.6 65.2 -17.8 6.9 2.6 2.6 20

 Funding corporations’ investment in subsidiaries:

 21 Liab.: Foreign banking offices in U.S. 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 21

 22 Brokers and dealers 17.8 51.5 35.0 35.5 65.9 1.1 24.0 20.2 10.7 8.4 22

 23 Asset: Funding corporations 24.5 65.2 49.4 47.2 68.4 46.7 2.1 38.7 18.2 41.5 23

 Equity investment under Public-Private Inv. Program:

 24 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Asset: Households (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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60 Historical Annuals, 1995-2004, September 18, 2014

F.232 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.0 0.0 1

 2 Asset: Federal government 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.0 0.0 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 3.3 -1.2 0.0 6.8 -7.8 0.0 8.6 1.9 -7.1 -2.1 6

 7 Asset: U.S.-chartered depository institutions 3.3 -1.2 0.0 6.8 -7.8 0.0 8.6 1.9 -7.1 -2.1 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 8

 9 Asset: Life insurance companies 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 10

 11 Accident and health 5.2 6.2 6.3 7.3 10.2 3.9 3.1 10.1 10.9 9.8 11

 12 Policy dividend accumulation 0.8 0.8 2.0 0.7 1.2 1.1 1.0 0.1 -0.0 1.2 12

 13 Contract claims 2.0 0.8 2.4 2.4 -0.0 1.9 2.4 0.0 3.0 0.5 13

 14 Asset: Household sector 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 20.8 6.6 4.8 4.3 2.5 -0.8 26.1 44.1 46.6 47.9 15

 16 Asset: Household sector 9.6 2.8 2.0 -1.0 0.1 -0.7 12.5 21.6 22.9 23.6 16

 17 Nonfinancial corporate business 8.5 2.8 2.1 2.3 1.4 0.0 10.8 18.1 19.0 19.7 17

 18 Nonfinancial noncorporate business 2.8 1.0 0.7 3.0 1.1 -0.1 2.8 4.5 4.7 4.6 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies -12.1 4.8 14.1 1.7 7.0 -27.4 -17.5 -21.0 73.4 17.9 19

 20 Asset: Private pension funds -12.1 4.8 -1.7 -14.8 -11.2 -22.2 -12.4 -11.5 54.3 5.9 20

 21 State and local government retirement funds 0.0 0.0 15.8 16.6 18.1 -5.2 -5.2 -9.4 19.0 12.0 21

 Pension fund contributions payable:

 22 Liab.: Nonfinancial corporate business 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 22

 23 Asset: Private pension funds 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 23

 Securities borrowed (net):

 24 Liab.: Funding corporations -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 24

 25 Asset: Brokers and dealers -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 25

 Nonmarketable government securities:

 26 Liab.: Federal government 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 26

 27 Asset: Federal government retirement funds 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 27

 Retiree health care funds (2):

 28 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 19.6 17.4 28

 29 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 19.6 17.4 29

 Claims of pension fund on sponsor (3):

 30 Liab.: Nonfinancial corporate business 79.7 83.0 95.8 96.6 115.3 118.0 126.9 80.8 56.6 84.3 30

 31 State and local governments 39.3 60.6 36.4 60.7 82.0 35.0 55.8 97.3 118.9 124.0 31

 32 Federal government 55.3 2.9 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 32

 33 Asset: Private pension funds 79.7 83.0 95.8 96.6 115.3 118.0 126.9 80.8 56.6 84.3 33

 34 State and local govt. retirement funds 39.3 60.6 36.4 60.7 82.0 35.0 55.8 97.3 118.9 124.0 34

 35 Federal government retirement funds 55.3 2.9 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.

(3) Assets of the household sector.
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Historical Annuals, 1995-2004, September 18, 2014 61

F.233 Unidentified Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 99.9 150.1 22.1 254.7 445.6 520.8 175.5 161.6 211.5 653.5 1

 2 Nonfinancial corporate business 44.3 66.1 -194.6 137.6 260.4 330.2 -174.2 -78.9 6.2 282.3 2

 3 Nonfinancial noncorporate business 13.6 29.4 56.0 92.1 73.7 85.9 55.2 18.7 23.4 68.8 3

 4 Federal government 4.5 -3.3 0.3 -7.1 -2.9 2.0 -7.8 -0.4 -2.6 1.0 4

 5 Monetary authority 1.1 -0.7 1.3 0.1 -1.4 0.4 -2.7 0.1 -0.3 1.2 5

 6 U.S.-chartered depository institutions 11.3 30.5 72.5 -41.0 25.5 56.2 -50.0 175.1 80.0 121.8 6

 7 Foreign banking offices in U.S. 5.5 0.1 12.7 -2.1 7.2 10.0 -10.6 20.3 1.0 -2.4 7

 8 Banks in U.S.-affiliated areas 3.1 0.4 4.6 6.9 2.4 0.2 5.3 -1.0 3.4 11.8 8

 9 Credit unions -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 9

 10 Life insurance companies 5.9 5.3 19.2 8.0 2.8 -19.7 19.4 24.2 24.0 8.4 10

 11 Government-sponsored enterprises 0.8 0.3 7.1 10.1 -3.7 -2.4 38.5 35.4 -37.7 -7.1 11

 12 Finance companies 10.5 -1.4 -10.3 -4.8 6.7 32.5 29.8 44.7 85.0 -14.7 12

 13 REITs 1.4 2.5 8.8 13.6 4.6 1.8 0.1 2.8 1.5 8.3 13

 14 Brokers and dealers -13.3 -14.1 -17.2 -30.6 -31.1 -10.6 131.7 -77.0 5.5 57.2 14

 15 Holding companies 26.4 18.0 39.2 63.8 -12.9 49.5 73.7 42.1 62.8 162.0 15

 16 Funding corporations -13.3 19.0 22.6 8.5 113.6 -15.4 70.1 -46.1 -42.1 -47.2 16

 17 Net change in assets 303.3 331.4 338.8 484.7 601.9 879.0 394.7 152.1 133.7 829.7 17

 18 Nonfinancial corporate business 213.4 223.1 47.9 299.8 446.6 613.6 134.1 44.4 -148.7 258.6 18

 19 Nonfinancial noncorporate business 34.7 35.2 55.9 121.9 81.4 90.0 127.3 36.5 45.8 231.4 19

 20 State and local governments 54.5 1.6 72.1 -0.5 -12.9 -21.6 -15.1 -26.2 -4.7 6.5 20

 21 Federal government -3.8 -8.4 -5.0 5.7 3.0 3.1 0.4 1.5 0.4 1.4 21

 22 Monetary authority -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 22

 23 U.S.-chartered depository institutions -36.2 31.7 40.7 -27.7 40.8 55.4 31.3 132.1 95.7 208.0 23

 24 Foreign banking offices in U.S. -9.3 -9.2 1.2 6.2 2.3 -3.7 -1.4 4.2 -6.7 1.2 24

 25 Banks in U.S.-affiliated areas 1.6 0.8 1.8 3.1 -1.0 -2.1 5.9 -6.0 -2.2 0.9 25

 26 Credit unions -0.9 -0.2 3.7 6.7 -15.2 10.1 8.4 5.6 -8.2 -0.6 26

 27 Life insurance companies 12.6 5.8 23.7 21.4 -10.6 27.8 16.7 -12.7 21.7 18.8 27

 28 Private pension funds 6.2 19.8 10.0 5.5 19.8 -2.8 -44.0 2.2 -2.8 3.7 28

 29 State and local govt. retirement funds 0.4 0.7 -0.0 0.6 1.4 0.2 2.5 -0.9 0.9 24.8 29

 30 Money market mutual funds 11.6 4.4 14.3 3.4 23.3 8.8 -10.1 -2.3 -17.1 7.3 30

 31 Mutual funds 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 31

 32 Government-sponsored enterprises -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 32

 33 Finance companies 2.9 -2.7 5.5 -34.7 5.6 35.2 16.4 12.8 37.7 -17.2 33

 34 REITs 1.0 -1.7 4.9 10.7 -1.3 1.9 0.6 2.6 4.3 11.1 34

 35 Brokers and dealers 15.7 8.4 24.9 42.6 7.7 38.9 69.0 -113.3 42.5 28.1 35

 36 Holding companies 2.6 14.3 21.3 19.4 10.8 27.7 50.3 48.3 54.5 34.4 36

 37 Discrepancy -203.3 -181.3 -316.7 -230.0 -156.4 -358.2 -219.2 9.6 77.8 -176.2 37
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62 Historical Annuals, 1995-2004, September 18, 2014

F.11 Sector Discrepancies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 All sectors -285.1 -214.7 -198.8 -178.0 -155.7 78.6 -145.4 364.1 230.2 -5.8 1

 2 Household sector -76.5 -108.0 -39.7 -107.9 -17.5 261.3 73.7 237.6 48.7 -158.9 2

 3 Nonfinancial corporate business -62.3 -51.7 -34.8 -69.6 -120.4 -205.6 -160.6 10.9 38.4 -58.0 3

 4 State and local governments -72.2 -31.9 -49.9 -45.1 -20.6 -69.5 -62.9 -18.9 7.9 -45.1 4

 5 Federal government 5.9 5.8 -1.1 11.7 -23.5 -0.1 6.3 30.1 58.5 -0.4 5

 6 Rest of the world 55.0 -4.6 -21.9 118.2 117.9 82.8 8.4 44.5 191.5 171.6 6

 7 Financial sectors -135.0 -24.2 -51.3 -85.4 -91.6 9.9 -10.3 60.0 -114.7 85.0 7

 8 Monetary authority -2.4 0.3 1.1 -3.0 -1.0 4.6 0.9 -2.2 -2.7 -1.4 8

 9 U.S.-chartered depository institutions -34.1 -16.6 -9.0 -2.1 -64.4 63.1 60.5 43.2 -71.9 67.6 9

 10 Foreign banking officed in U.S. -38.3 20.3 6.3 -21.2 48.1 10.9 -7.3 22.5 17.3 38.0 10

 11 Banks in U.S.-affiliated areas -0.3 -0.1 -0.5 0.2 0.3 -1.2 0.5 -1.0 -1.0 0.6 11

 12 Credit unions 0.8 1.5 -0.1 0.1 -0.2 -5.5 -2.7 7.2 5.4 0.1 12

 13 Property-casualty insurance companies -18.2 -6.7 -39.3 -18.8 14.3 -16.7 0.6 -29.5 -9.2 -17.9 13

 14 Life insurance companies -38.4 -40.2 -42.9 -25.0 -21.8 -14.9 -13.5 -19.1 -36.1 -33.1 14

 15 Mutual funds 8.7 4.9 6.2 -33.3 -41.8 -51.7 -34.3 -20.5 -17.8 -26.0 15

 16 Government-sponsored enterprises -2.4 0.1 -3.4 -0.9 2.3 73.5 13.8 20.4 -27.1 -8.4 16

 17 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Finance companies -2.8 3.6 -14.0 -11.6 -12.1 18.4 -10.1 17.3 33.8 21.8 18

 19 REITs 9.7 20.6 56.9 66.3 13.6 -8.2 5.3 21.3 14.2 39.4 19

 20 Brokers and dealers -15.4 -8.5 -9.0 -30.7 -24.4 -60.1 -23.7 3.3 -19.3 2.6 20

 21 Holding companies -2.2 -3.4 -3.7 -5.4 -4.5 -2.4 -0.2 -3.0 -0.3 1.7 21

F.12 Instrument Discrepancies

Billions of dollars

 1 All types -285.1 -214.7 -198.8 -178.0 -155.7 78.6 -145.4 364.1 230.2 -5.8 1

 2 Treasury currency -0.3 -0.4 -0.1 -0.2 -0.7 -1.2 -0.1 -0.6 -0.3 -0.3 2

 3 Foreign deposits 25.0 59.4 106.2 -5.7 34.0 83.2 -15.8 21.5 60.3 128.9 3

 4 Net interbank transactions -5.3 2.6 -21.9 -2.6 -10.6 18.4 -5.1 -1.2 -6.5 21.3 4

 5 Security repurchase agreements -12.8 -23.5 52.8 0.6 -72.9 186.1 4.3 101.1 104.4 10.9 5

 6 Mail floats -9.8 -3.6 -6.6 -0.5 -8.2 8.7 -40.5 -2.3 -8.9 18.2 6

 7 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Federal government -6.0 0.5 -2.7 2.6 -7.4 9.0 -40.0 -1.6 -8.9 27.9 8

 9 Private domestic -3.8 -4.0 -3.9 -3.1 -0.8 -0.3 -0.5 -0.7 -0.0 -9.7 9

 10 Trade credit -0.8 -22.6 -24.9 -14.2 15.8 5.4 1.2 156.2 30.8 2.9 10

 11 Taxes payable 15.6 14.0 27.8 17.5 9.1 40.3 18.6 10.7 -37.1 -15.7 11

 12 Miscellaneous -203.3 -181.3 -316.7 -230.0 -156.4 -358.2 -219.2 9.6 77.8 -176.2 12

 13 Nonfinancial -93.3 -59.4 -15.3 57.1 34.2 95.9 111.2 69.0 9.7 4.2 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) 90.6 56.6 12.3 -60.2 -37.5 -99.5 -115.0 -72.8 -13.6 -8.6 14

 15 Contr. for govt. soc. insur., U.S. affiliated areas 2.7 2.8 3.0 3.1 3.3 3.6 3.7 3.8 3.9 4.4 15
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Historical Annuals, 1995-2004, September 18, 2014 63

L.100 Households and Nonprofit Organizations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 22779.7 24383.4 27481.6 30656.5 34921.3 34278.8 33691.1 32398.9 36951.4 41980.4 1

 2 Deposits 3427.7 3568.1 3735.4 3940.1 4126.9 4462.5 4984.4 5240.4 5481.0 5843.1 2

 3 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.8 61.8 3

 4 Checkable deposits and currency 586.5 544.8 503.9 528.7 508.9 405.4 480.1 464.1 458.0 399.8 4

 5 Time and savings deposits 2345.4 2486.9 2623.0 2706.3 2807.9 3071.5 3354.6 3657.9 4015.7 4483.2 5

 6 Money market fund shares 472.4 500.9 571.3 667.4 769.5 937.3 1101.0 1068.4 954.5 898.3 6

 7 Credit market instruments 2381.4 2513.3 2444.1 2468.3 2581.5 2458.4 2246.9 2236.9 2397.9 3275.8 7

 8 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 8

 9 Treasury securities 836.7 888.5 797.1 732.1 809.5 578.3 433.9 269.9 416.9 472.7 9

 10 Agency- and GSE-backed securities 216.3 332.6 390.3 441.5 540.5 587.9 385.0 241.5 376.6 443.6 10

 11 Municipal securities 533.4 493.0 497.6 498.4 526.9 531.5 587.9 671.5 687.2 1522.9 11

 12 Corporate and foreign bonds 609.7 617.2 582.8 621.3 517.0 557.5 640.1 852.0 714.5 614.3 12

 13 Other loans and advances (2) 0.1 0.1 0.2 0.2 0.6 1.9 2.6 2.8 3.1 5.9 13

 14 Mortgages 113.6 106.1 99.0 94.7 102.0 104.0 109.2 117.2 122.2 132.6 14

 15 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Corporate equities (3) 4434.2 4712.2 6114.0 7468.4 9719.5 8096.6 6787.9 5123.3 6713.6 7406.1 16

 17 Mutual fund shares 1253.0 1561.9 1874.2 2255.6 2767.2 2589.0 2501.6 2124.6 2794.1 3291.8 17

 18 Security credit 145.4 189.9 219.8 292.3 349.7 460.7 502.1 441.9 521.1 635.2 18

 19 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 19

 20 Pension entitlements (4) 6717.6 7242.2 8046.2 8878.6 9709.2 10017.3 10195.3 10340.4 11414.2 12567.1 20

 21 Claims of pension fund on sponsor 1000.7 854.8 577.0 472.7 261.8 678.4 1269.9 2002.9 1508.6 1710.0 21

 22 Funded pension entitlements 5716.9 6387.4 7469.2 8405.9 9447.4 9338.8 8925.4 8337.5 9905.7 10857.2 22

 23 Equity in noncorporate business 3526.0 3646.2 4031.3 4274.2 4510.9 4996.4 5195.0 5525.6 6115.1 7347.1 23

 24 Miscellaneous assets 328.3 338.9 351.5 360.8 372.6 378.7 397.8 444.9 501.3 553.8 24

 25 Total liabilities 5041.7 5404.2 5757.0 6198.2 6753.5 7348.9 7974.0 8758.0 9832.7 11004.1 25

 26 Credit market instruments 4844.5 5182.3 5489.2 5901.4 6375.3 6959.5 7625.7 8437.9 9472.5 10544.3 26

 27 Home mortgages (5) 3319.2 3537.3 3753.2 4054.7 4431.6 4813.9 5322.0 6028.2 6909.9 7859.4 27

 28 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 28

 29 Municipal securities 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 29

 30 Depository institution loans n.e.c. (6) 50.8 40.7 50.5 42.9 19.3 14.9 -1.2 -25.2 3.2 -16.8 30

 31 Other loans and advances 108.4 122.3 123.0 122.6 117.8 119.1 120.0 120.2 118.7 119.0 31

 32 Commercial mortgages 101.6 105.7 108.8 118.7 121.2 132.8 141.7 153.8 160.1 165.0 32

 33 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 33

 34 Trade payables 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 34

 35 Deferred and unpaid life insurance premiums 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 35

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

 outstandings of nonprofit organizations.

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

(3) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 17), life insurance reserves (line 19) and pension entitlements (line 20).

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

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

(6) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.108, line 19.
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64 Historical Annuals, 1995-2004, September 18, 2014

L.101 Nonfinancial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 5567.9 6159.7 6636.7 7865.6 9319.4 11233.5 11516.5 11649.8 11905.4 13096.7 1

 2 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 2

 3 Checkable deposits and currency 326.5 328.0 339.0 329.2 363.9 407.3 354.3 344.7 394.8 504.7 3

 4 Time and savings deposits 171.1 204.7 250.1 319.0 416.4 519.9 535.8 560.5 676.6 701.1 4

 5 Money market fund shares 77.0 113.9 141.7 194.3 237.5 263.3 373.0 381.0 352.9 366.1 5

 6 Security repurchase agreements 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 6

 7 Credit market instruments 328.0 321.8 317.2 313.1 285.8 314.3 316.7 341.9 340.7 383.4 7

 8 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 8

 9 Treasury securities 80.7 75.6 59.1 61.6 56.6 58.3 59.7 74.2 78.6 84.2 9

 10 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 10

 11 Municipal securities 39.0 33.6 30.6 28.6 27.7 34.4 32.8 35.5 38.1 36.2 11

 12 Mortgages 79.7 74.7 99.0 93.6 65.3 67.0 73.4 75.7 78.0 97.4 12

 13 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 13

 14 Mutual fund shares 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 14

 15 Trade receivables 1325.3 1442.9 1566.0 1681.6 1930.1 2281.4 2161.8 2082.4 2039.5 2195.0 15

 16 U.S. direct investment abroad 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 16

 17 Miscellaneous assets 2495.8 2787.3 2987.3 3855.0 4670.4 5949.3 6156.5 6209.8 6196.8 6666.2 17

 18 Total liabilities 7542.7 8048.4 8494.1 9630.0 10892.2 12428.4 12847.3 13162.2 13176.7 14019.0 18

 19 Credit market instruments 4262.6 4481.9 4861.0 5419.0 6020.7 6571.6 6895.2 7050.0 7140.8 7550.0 19

 20 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 20

 21 Municipal securities 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 21

 22 Corporate bonds 1486.9 1574.6 1702.1 1909.5 2116.4 2267.4 2560.8 2643.1 2716.0 2703.9 22

 23 Depository institution loans n.e.c. 832.1 892.1 993.4 1099.6 1197.8 1303.4 1242.5 1162.7 1093.7 1130.6 23

 24 Other loans and advances 571.3 589.9 644.3 710.1 744.3 829.6 828.1 862.6 869.3 921.6 24

 25 Mortgages 1080.2 1130.9 1210.6 1359.1 1579.1 1738.6 1928.4 2101.1 2215.3 2510.7 25

 26 Trade payables 975.3 1056.9 1154.0 1242.0 1455.0 1809.2 1700.8 1745.9 1665.1 1786.4 26

 27 Taxes payable 73.7 85.5 99.2 108.1 124.0 142.6 149.7 163.1 150.9 166.0 27

 28 Foreign direct investment in U.S. 654.1 708.8 760.3 821.1 916.0 1183.2 1269.5 1256.5 1305.3 1412.8 28

 29 Miscellaneous liabilities 1577.0 1715.3 1619.7 2039.7 2376.4 2721.9 2832.1 2946.6 2914.7 3103.7 29

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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Historical Annuals, 1995-2004, September 18, 2014 65

L.102 Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 4975.4 5472.5 5818.4 6824.8 8093.5 9760.8 9887.0 9941.6 10116.7 10937.3 1

 2 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 2

 3 Checkable deposits and currency 206.7 189.0 177.7 161.8 191.3 226.4 172.5 160.2 204.2 207.2 3

 4 Time and savings deposits 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 4

 5 Money market fund shares 60.0 94.6 118.8 161.7 196.8 213.9 314.1 319.7 289.3 299.6 5

 6 Security repurchase agreements 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 6

 7 Credit market instruments 280.4 270.2 263.0 246.0 221.8 248.3 243.6 269.5 266.8 298.0 7

 8 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 8

 9 Treasury securities 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 33.7 34.0 9

 10 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 10

 11 Municipal securities 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 11

 12 Mortgages 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 12

 13 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 13

 14 Mutual fund shares 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 14

 15 Trade receivables 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.5 1701.8 1830.6 15

 16 U.S. direct investment abroad (1) 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 16

 17 Miscellaneous assets 2299.5 2554.7 2698.1 3440.8 4173.8 5362.8 5439.5 5451.8 5387.8 5621.1 17

 18 Insurance receivables 186.5 189.3 191.4 193.7 195.0 195.1 205.9 224.0 243.0 262.7 18

 19 Equity in GSEs 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 19

 20 Investment in finance company subs. 22.5 23.0 28.0 18.0 28.6 29.4 11.6 18.5 21.0 23.6 20

 21 Other 2090.4 2342.2 2478.6 3229.0 3950.0 5138.1 5221.7 5208.9 5123.3 5334.3 21

 22 Total liabilities 6023.1 6393.6 6645.4 7476.2 8427.3 9632.4 9833.2 9950.0 9894.6 10381.6 22

 23 Credit market instruments 3087.9 3236.8 3514.0 3893.0 4300.9 4659.3 4819.4 4822.4 4839.3 4993.8 23

 24 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 24

 25 Municipal securities (2) 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 25

 26 Corporate bonds (1) 1486.9 1574.6 1702.1 1909.5 2116.4 2267.4 2560.8 2643.1 2716.0 2703.9 26

 27 Depository institution loans n.e.c. 631.5 662.3 716.9 797.5 846.1 901.3 796.8 693.4 614.1 618.0 27

 28 Other loans and advances (3) 467.2 484.8 534.9 595.0 623.1 700.9 703.0 734.9 742.2 793.3 28

 29 Mortgages 210.2 220.8 249.5 250.3 332.2 357.1 423.3 470.5 520.6 595.3 29

 30 Trade payables 878.6 928.3 993.6 1051.2 1229.8 1542.4 1438.8 1458.6 1403.9 1501.5 30

 31 Taxes payable 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 31

 32 Foreign direct investment in U.S. 651.3 704.8 756.4 817.8 912.5 1180.0 1266.2 1252.5 1302.0 1409.8 32

 33 Miscellaneous liabilities 1365.0 1473.8 1322.2 1650.1 1913.1 2172.7 2227.7 2323.6 2268.2 2388.5 33

 34 Pension fund contributions payable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 34

 35 Claims of pension fund on sponsor -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 35

 36 Other 1375.4 1544.7 1499.1 1837.4 2197.7 2293.2 2067.6 1933.9 2190.2 2307.6 36

 Memo:

 37 Trade receivables net of payables 306.3 344.7 367.5 397.2 427.8 396.8 379.1 261.0 297.9 329.1 37

 38 Market value of equities 6406.8 6804.3 8674.5 10962.3 14476.8 12444.5 10868.6 8212.3 10845.2 12088.6 38

 39 Securities and mortgages 1831.8 1933.3 2093.6 2307.6 2601.4 2778.7 3141.9 3274.3 3400.6 3484.7 39

 40 Loans and short-term paper 1256.1 1303.5 1420.3 1585.4 1699.5 1880.6 1677.6 1548.1 1438.7 1509.1 40

 41 Total short-term liabilities (4) 2175.0 2281.7 2473.1 2700.7 3000.3 3501.0 3197.4 3099.7 2923.8 3098.6 41

 42 Total liquid assets (5) 569.3 646.1 661.5 747.9 894.0 982.1 1020.1 1034.1 1171.3 1265.0 42

 Analytical measures (percent)

 43 Long-term debt/credit market debt 59.3 59.7 59.6 59.3 60.5 59.6 65.2 67.9 70.3 69.8 43

 44 Short-term debt/credit market debt 40.7 40.3 40.4 40.7 39.5 40.4 34.8 32.1 29.7 30.2 44

 45 Liquid assets/short-term liabilities 26.2 28.3 26.7 27.7 29.8 28.1 31.9 33.4 40.1 40.8 45

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

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

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

(4) Sum of lines 24, 27, 28, 30, and 31. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(5) Sum of lines 2 through 6, lines 8 through 11, and line 14.
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66 Historical Annuals, 1995-2004, September 18, 2014

L.103 Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 592.5 687.2 818.2 1040.8 1225.9 1472.7 1629.5 1708.2 1788.7 2159.5 1

 2 Checkable deposits and currency 119.8 139.0 161.3 167.4 172.6 181.0 181.8 184.5 190.6 297.5 2

 3 Time and savings deposits 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 300.6 3

 4 Money market fund shares 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 66.5 4

 5 Credit market instruments 47.6 51.6 54.2 67.1 64.0 66.0 73.1 72.4 73.9 85.4 5

 6 Treasury securities 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 6

 7 Municipal securities 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 7

 8 Mortgages 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 8

 9 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Trade receivables 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 10

 11 Miscellaneous assets 196.3 232.6 289.2 414.1 496.6 586.5 717.0 758.0 809.1 1045.1 11

 12 Insurance receivables 71.5 72.5 73.2 76.2 77.3 77.2 80.0 84.5 89.2 93.8 12

 13 Equity investment in GSEs (1) 2.9 3.0 3.0 3.0 3.0 3.1 3.5 3.6 4.2 4.2 13

 14 Other 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 715.7 947.1 14

 15 Total liabilities 1519.6 1654.8 1848.7 2153.8 2464.9 2796.1 3014.1 3212.2 3282.1 3637.4 15

 16 Credit market instruments 1174.6 1245.1 1347.0 1526.0 1719.8 1912.3 2075.7 2227.6 2301.5 2556.2 16

 17 Depository institution loans n.e.c. 200.6 229.8 276.6 302.1 351.7 402.1 445.6 469.3 479.7 512.6 17

 18 Other loans and advances 104.1 105.1 109.4 115.1 121.2 128.7 125.1 127.7 127.1 128.3 18

 19 Mortgages 869.9 910.1 961.1 1108.8 1246.9 1381.5 1505.0 1630.6 1694.7 1915.3 19

 20 Trade payables 96.7 128.5 160.4 190.8 225.2 266.7 262.0 287.4 261.2 284.9 20

 21 Taxes payable 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 21

 22 Foreign direct investment in U.S. 2.8 4.0 3.9 3.4 3.6 3.3 3.3 4.0 3.3 3.0 22

 23 Miscellaneous liabilities 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 23

(1) Equity in the Farm Credit System.
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Historical Annuals, 1995-2004, September 18, 2014 67

L.104 State and Local Governments (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1121.3 1162.0 1286.0 1473.9 1600.5 1660.8 1749.1 1799.6 1873.7 2057.8 1

 2 Checkable deposits and currency 38.7 33.1 37.5 33.6 37.5 37.7 41.7 46.7 53.7 50.3 2

 3 Time and savings deposits 61.7 72.2 77.9 92.6 106.7 117.4 129.3 138.1 158.0 165.8 3

 4 Money market fund shares 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 63.5 76.3 4

 5 Security repurchase agreements 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 117.2 124.3 5

 6 Credit market instruments 638.6 604.8 605.0 714.6 816.5 887.3 981.2 1067.4 1094.7 1206.0 6

 7 Open market paper 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 150.6 153.4 7

 8 Treasury securities 289.8 257.0 239.3 280.8 304.5 310.0 328.4 354.7 361.7 405.0 8

 9 Agency- and GSE-backed securities 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 340.6 377.7 9

 10 Municipal securities 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.5 5.7 10

 11 Corporate and foreign bonds 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 108.0 119.9 11

 12 Mortgages 113.8 117.6 121.3 127.4 131.8 130.5 129.7 124.4 129.3 144.3 12

 13 Corporate equities 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 93.4 107.6 13

 14 Mutual fund shares 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 29.4 35.8 14

 15 Trade receivables 77.3 82.9 89.2 96.3 104.9 109.9 115.9 118.4 116.6 125.0 15

 16 Taxes receivable 37.7 40.1 44.3 49.3 59.2 69.8 72.8 74.4 75.1 88.0 16

 17 Miscellaneous assets 79.4 81.0 153.1 152.6 139.8 118.2 103.1 76.9 72.1 78.6 17

 18 Total liabilities 1304.8 1219.6 1099.5 1077.8 976.1 1199.9 1604.8 2233.4 2144.9 3208.7 18

 19 Credit market instruments 1046.7 1026.2 1076.9 1143.8 1181.0 1197.9 1303.4 1447.9 1568.4 2448.2 19

 20 Municipal securities 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 20

 21 Short-term (2) 34.4 40.7 49.0 42.7 45.3 46.6 70.5 95.7 106.1 44.2 21

 22 Long-term 1002.6 980.7 1018.0 1090.9 1127.2 1142.4 1223.9 1342.6 1452.7 2393.9 22

 23 U.S. government loans 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 23

 24 Trade payables 229.6 247.8 267.4 288.2 311.0 336.0 363.0 391.3 420.1 450.1 24

 25 Claims of pension fund on sponsor (3) 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 310.5 25

(1) Data for employee retirement funds are shown in table L.118.

(2) Debt with original maturity of 13 months or less.

(3) Included in miscellaneous liabilities.
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68 Historical Annuals, 1995-2004, September 18, 2014

L.105 Federal Government

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 431.7 511.5 515.9 515.8 616.2 569.9 632.6 652.8 659.7 640.6 1

 2 U.S. official reserve assets 53.8 44.9 42.0 51.0 44.5 41.1 43.2 51.0 55.0 54.3 2

 3 Checkable deposits and currency 22.2 38.3 41.6 23.2 87.9 24.3 66.9 47.7 54.3 22.2 3

 4 Time and savings deposits 0.9 2.4 3.4 4.7 5.4 6.3 10.5 27.6 2.4 2.4 4

 5 Credit market instruments 197.6 201.6 213.1 218.8 256.3 263.1 267.0 275.0 272.6 274.8 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Other loans and advances 130.9 133.7 139.7 137.4 130.6 127.8 120.0 119.4 117.6 114.6 8

 9 Mortgages 57.5 50.3 45.7 44.9 77.7 75.7 74.5 75.1 72.6 74.2 9

 10 Consumer credit (1) 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 10

 11 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Trade receivables 23.1 24.0 20.8 22.3 22.9 28.1 35.5 32.2 51.3 61.8 12

 13 Taxes receivable 17.3 90.2 88.4 82.0 80.3 83.3 84.0 90.7 93.7 91.2 13

 14 Miscellaneous assets 116.9 110.2 106.7 113.8 119.0 123.6 125.6 128.7 130.5 133.9 14

 15 Total liabilities 5362.8 5567.7 5650.6 5662.1 5666.8 5448.2 5522.7 5873.3 6442.4 6921.1 15

 16 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 16

 17 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 17

 18 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 18

 19 Credit market instruments 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 19

 20 U.S. savings securities 185.0 187.0 186.5 186.6 186.4 184.8 190.4 194.9 203.9 204.5 20

 21 Treasury bills 760.7 777.4 715.4 691.0 737.1 646.9 811.2 888.7 928.8 1001.2 21

 22 Other Treasury securities 2662.8 2790.7 2876.4 2846.1 2729.2 2526.2 2351.1 2526.1 2875.6 3165.1 22

 23 Budget agency securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 23

 24 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Trade payables 80.9 82.0 73.8 66.2 72.0 77.7 80.9 81.9 153.6 169.0 25

 26 Insurance reserves 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 26

 27 Miscellaneous liabilities 1579.5 1637.8 1704.7 1774.2 1845.0 1917.3 1991.7 2080.7 2179.7 2279.1 27

 28 Nonmarketable securities held by pension plans (3) 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 28

 29 Claims of pension fund on sponsor 1066.5 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 29

 30 Other 6.7 7.3 6.6 6.7 6.6 6.4 6.2 21.4 40.8 58.0 30

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

 the government purchased from depository institutions and finance companies.

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

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.
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Historical Annuals, 1995-2004, September 18, 2014 69

L.106 Rest of the World

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 3306.8 3819.7 4490.4 5047.7 5621.2 6204.0 6652.1 6959.5 8251.4 9699.1 1

 2 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 2

 3 Net interbank assets 131.9 100.6 111.0 116.6 123.3 81.7 54.4 64.6 75.9 47.3 3

 4 U.S. checkable deposits and currency 158.5 175.2 202.7 213.2 237.5 236.3 255.1 273.4 262.9 285.3 4

 5 U.S. time deposits 201.3 201.1 214.4 221.0 217.4 226.4 200.9 220.3 167.8 202.9 5

 6 Money market fund shares 5.1 5.8 6.6 7.3 8.1 11.2 15.1 16.3 18.8 22.9 6

 7 Security repurchase agreements 67.6 70.9 90.8 72.0 79.9 91.3 151.1 190.1 473.2 663.7 7

 8 Credit market instruments 1464.8 1795.6 2035.6 2202.0 2196.8 2451.9 2850.7 3323.6 3797.4 4580.9 8

 9 Open market paper 43.4 57.9 77.8 111.4 105.0 114.3 108.4 128.5 133.1 137.7 9

 10 Treasury securities 816.9 1040.3 1153.2 1166.2 1058.4 1021.4 1095.2 1285.5 1513.5 1813.6 10

 11 Treasury bills 197.4 236.9 193.2 183.5 185.7 177.8 218.2 268.9 290.9 323.7 11

 12 Other Treasury securities 619.6 803.5 960.0 982.8 872.7 843.6 877.0 1016.6 1222.6 1489.9 12

 13 Agency- and GSE-backed securities 123.1 134.4 157.3 185.6 232.3 348.2 504.1 637.5 661.1 861.7 13

 14 Municipal securities 4.0 4.9 5.9 6.8 7.8 8.0 8.0 11.5 19.5 26.0 14

 15 U.S. corporate bonds (1) 355.3 432.1 498.2 589.7 673.8 842.6 1019.2 1134.8 1345.2 1610.6 15

 16 Loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 16

 17 U.S. corporate equities 484.6 584.3 837.3 1107.9 1434.0 1483.0 1441.0 1229.1 1697.6 1952.7 17

 18 Mutual fund shares 59.9 82.3 109.0 135.1 169.5 149.0 116.6 90.5 123.1 147.7 18

 19 Trade receivables 45.8 51.3 52.2 45.7 46.2 45.8 42.7 45.0 46.5 45.4 19

 20 Foreign direct investment in U.S. (2) 680.1 745.6 824.1 920.0 1101.7 1421.0 1518.5 1500.0 1581.0 1742.7 20

 21 Total liabilities 2083.6 2379.3 2633.6 2824.0 3053.9 3327.7 3609.7 4027.6 4589.2 5474.9 21

 22 U.S. official reserve assets (3) 74.8 64.0 58.9 70.7 60.5 56.6 57.6 67.8 74.7 75.5 22

 23 U.S. private deposits 418.8 521.7 618.5 627.6 676.5 803.3 810.1 914.4 953.8 1142.2 23

 24 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 138.0 161.6 239.9 388.1 24

 25 Credit market instruments 631.3 721.4 802.2 842.9 804.4 868.2 849.9 956.3 1157.1 1285.7 25

 26 Commercial paper 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 276.1 345.3 26

 27 Bonds 431.9 499.6 568.2 601.6 557.9 582.4 505.5 562.1 746.5 808.6 27

 28 Depository institution loans n.e.c. 79.6 89.7 105.9 111.3 105.7 114.5 99.4 92.7 92.2 93.1 28

 29 Other loans and advances 63.6 64.7 63.0 57.2 51.6 50.4 46.6 44.3 42.3 38.7 29

 30 Trade payables 25.1 28.4 31.2 31.2 36.4 37.1 31.8 30.4 33.6 32.7 30

 31 U.S. direct investment abroad (1,2) 885.5 989.8 1068.1 1196.0 1414.4 1531.6 1693.1 1867.0 2054.5 2498.5 31

 32 Miscellaneous liabilities 48.1 54.0 54.7 55.6 61.8 30.8 29.1 30.1 75.7 52.1 32

 33 U.S. equity in IBRD, etc. 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 33

 34 Nonofficial foreign currencies 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.6 2.6 34

 35 Investment by holding companies 18.5 22.6 21.9 21.3 25.4 -7.1 -10.4 -11.1 33.1 7.5 35

 Memo:

 36 Market value of foreign equities 790.6 1006.1 1207.8 1475.0 2003.7 1852.8 1612.7 1374.0 2079.4 2560.4 36

 held by U.S. residents (4)

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

(2) Direct investment is valued on a current-cost basis.

(3) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).
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70 Historical Annuals, 1995-2004, September 18, 2014

L.107 Financial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 23115.4 25410.3 28679.3 32174.8 36234.7 38530.9 40934.4 42437.6 46946.8 51799.0 1

 2 U.S. official reserve assets 32.1 30.2 28.0 30.7 27.1 26.6 25.5 27.9 30.8 32.3 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 3

 4 Treasury currency 24.0 25.0 25.5 26.3 28.0 31.6 33.0 34.6 35.5 36.4 4

 5 Foreign deposits 19.7 23.1 23.2 30.1 41.1 80.4 111.1 104.3 67.3 68.1 5

 6 Net interbank assets 70.4 74.1 78.6 70.0 90.6 64.4 64.8 70.8 70.8 66.5 6

 7 Checkable deposits and currency 47.2 57.8 71.8 78.5 89.4 93.5 158.9 172.6 216.3 243.9 7

 8 Time and savings deposits 184.2 223.6 273.4 315.6 320.2 315.0 379.1 352.5 304.7 325.3 8

 9 Money market fund shares 176.1 254.0 307.3 408.3 508.7 546.5 694.2 692.6 614.7 504.4 9

 10 Federal funds and security repos 1154.0 1221.7 1388.1 1398.3 1526.3 1630.8 1808.4 1974.3 1996.9 2297.3 10

 11 Credit market instruments 13637.7 14505.9 15718.9 17468.7 19302.0 20775.7 22548.0 24322.7 26413.9 28401.2 11

 12 Open market paper 525.7 578.1 714.4 854.8 1060.6 1225.1 1080.3 948.1 856.3 929.2 12

 13 Treasury securities 1584.3 1493.6 1529.6 1483.0 1423.7 1389.8 1435.5 1625.5 1637.6 1595.3 13

 14 Agency- and GSE-backed securities 1891.7 2024.1 2178.3 2531.2 2932.5 3155.7 3795.5 4311.7 4579.8 4390.2 14

 15 Municipal securities 686.7 725.5 780.6 865.8 891.2 903.1 970.7 1040.3 1151.0 1230.5 15

 16 Corporate and foreign bonds 2073.4 2275.5 2548.6 2894.8 3215.1 3349.3 3719.1 3920.4 4574.8 5130.7 16

 17 Depository institution loans n.e.c. 1006.6 1088.5 1225.4 1361.5 1448.3 1561.7 1480.7 1388.2 1368.0 1419.2 17

 18 Other loans and advances 634.8 685.0 755.6 908.8 1067.3 1199.1 1229.1 1259.1 1296.0 1413.3 18

 19 Mortgages 4160.5 4457.2 4754.3 5243.5 5833.8 6391.7 7090.9 7987.7 8989.0 10218.0 19

 20 Consumer credit 1073.9 1178.5 1232.1 1325.4 1429.5 1600.1 1746.3 1841.7 1961.5 2074.8 20

 21 Corporate equities 3536.2 4404.7 5592.0 6679.2 8149.2 7902.2 7311.7 6006.6 8134.0 9473.7 21

 22 Mutual fund shares 459.2 594.6 898.0 1090.6 1441.1 1546.2 1379.9 1307.7 1591.4 1832.2 22

 23 Trade receivables 108.2 117.3 140.9 146.5 130.7 147.9 159.0 158.3 171.7 182.2 23

 24 Security credit 106.4 125.2 165.1 183.9 261.3 268.2 224.6 170.5 211.0 294.2 24

 25 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 U.S. direct investment abroad 106.8 123.3 134.9 155.0 163.6 180.0 203.4 255.1 309.4 403.8 26

 27 Miscellaneous assets 3443.0 3620.2 3824.3 4084.0 4149.2 4919.5 5830.5 6784.8 6776.3 7635.4 27

 28 Total liabilities 22370.0 24669.4 27889.6 31226.1 35260.1 37558.0 39928.9 41283.5 45447.0 50070.0 28

 29 Net interbank liabilities 146.2 121.2 114.2 108.6 125.3 76.0 44.1 59.0 63.7 52.2 29

 30 Checkable deposits and currency 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.8 1353.0 1437.4 1522.8 30

 31 Time and savings deposits 2964.7 3190.8 3442.2 3659.2 3873.9 4256.5 4610.3 4956.9 5325.2 5880.7 31

 32 Money market fund shares 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 32

 33 Federal funds and security repos 1271.4 1352.4 1595.8 1591.6 1653.7 1882.9 2212.5 2503.9 2776.3 3285.8 33

 34 Credit market instruments 4226.3 4749.5 5299.7 6326.2 7376.5 8168.4 9156.8 10038.4 10945.2 11898.8 34

 35 Open market paper 486.9 579.1 745.7 906.7 1082.9 1214.7 1097.8 997.9 934.4 956.0 35

 36 Agency- and GSE-backed securities 2377.7 2609.2 2822.8 3294.4 3887.7 4319.7 4962.3 5509.0 5944.5 6060.3 36

 37 Corporate and foreign bonds 1158.5 1300.4 1410.3 1657.1 1805.7 1983.4 2407.1 2806.2 3279.9 3963.1 37

 38 Depository institution loans n.e.c. 44.1 66.0 75.6 107.6 125.5 128.8 140.1 158.0 178.9 212.2 38

 39 Other loans and advances 135.0 162.9 198.5 288.7 395.8 438.3 463.7 470.5 501.7 575.8 39

 40 Mortgages 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 40

 41 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 41

 42 Trade payables 10.3 14.3 19.9 18.9 30.9 35.9 39.2 37.4 28.2 36.0 42

 43 Security credit 173.2 220.7 253.7 323.4 383.1 493.9 530.4 464.1 549.6 665.4 43

 44 Life insurance reserves 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 44

 45 Pension entitlements 6717.6 7242.2 8046.2 8878.6 9709.2 10017.3 10195.3 10340.4 11414.2 12567.1 45

 46 Taxes payable 21.2 25.3 17.9 22.2 26.5 36.8 41.5 37.5 47.9 53.2 46

 47 Foreign direct investment in U.S. 26.0 36.8 63.8 98.9 185.7 237.8 249.0 243.5 275.7 329.9 47

 48 Miscellaneous liabilities 2471.6 2706.7 3162.3 3356.3 3700.8 4105.7 4409.0 4674.3 5193.5 5846.5 48

 Memo:

 49 Market value of corporate equities 1284.0 1937.7 2739.5 2916.8 2920.4 3277.7 3147.3 2852.0 3713.9 4291.1 49

 50 Equity in noncorporate business 5.4 6.5 9.5 9.6 11.5 11.7 6.2 5.0 13.0 11.2 50

(1) Sum of financial sectors shown on tables L.108 through L.130.
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Historical Annuals, 1995-2004, September 18, 2014 71

L.108 Monetary Authority (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 471.9 495.2 534.0 566.8 696.9 635.9 683.0 753.6 796.8 841.3 1

 2 U.S. official reserve assets 32.1 30.2 28.0 30.7 27.1 26.6 25.5 27.9 30.8 32.3 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 3

 4 Treasury currency 24.0 25.0 25.5 26.3 28.0 31.6 33.0 34.6 35.5 36.4 4

 5 Federal Reserve float (2) 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 5

 6 Interbank loans (2) 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 6

 7 Discount window (3) 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 7

 8 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Security repurchase agreements 13.9 21.6 23.8 30.4 140.6 43.4 50.3 39.5 43.8 33.0 9

 10 Credit market instruments 380.8 393.1 431.4 452.5 478.1 511.8 551.7 629.4 666.7 717.8 10

 11 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Treasury securities 378.2 390.9 430.7 452.1 478.0 511.7 551.7 629.4 666.7 717.8 12

 13 Treasury bills 183.1 190.6 197.1 194.8 176.5 178.7 182.1 226.7 244.8 263.0 13

 14 Other Treasury securities 195.1 200.3 233.6 257.4 301.4 333.0 369.6 402.7 421.8 454.8 14

 15 Agency- and GSE-backed securities 2.6 2.2 0.7 0.3 0.2 0.1 0.0 0.0 0.0 0.0 15

 16 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other agency- and GSE-backed securities 2.6 2.2 0.7 0.3 0.2 0.1 0.0 0.0 0.0 0.0 17

 18 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Brokers and dealers (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Funding corporations (Maiden Lane) (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Funding corporations (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (Maiden Lane II) (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (Maiden Lane III)(9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Funding corporations (CPFF) (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Corporate equities (11) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Miscellaneous assets 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 28

 29 Nonofficial foreign currencies (12) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Other 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 30

 31 Total liabilities 467.9 490.7 528.8 560.9 690.4 629.1 675.6 745.3 788.0 829.6 31

 32 Depository institution reserves 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 32

 33 Vault cash of depository institutions 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 33

 34 Checkable deposits and currency 391.2 414.4 444.3 483.3 591.5 556.4 603.8 645.7 683.0 720.8 34

 35 Due to federal government 6.2 8.0 5.7 6.2 28.5 5.6 7.1 4.8 6.0 6.2 35

 36 Treasury cash holdings 0.3 0.2 0.2 0.1 0.1 0.5 0.4 0.4 0.3 0.3 36

 37 Treasury general deposit account 6.0 7.7 5.4 6.1 28.4 5.1 6.6 4.4 5.7 5.9 37

 38 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Due to rest of the world 0.4 0.2 0.5 0.2 0.1 0.2 0.1 0.1 0.2 0.1 39

 40 Due to government-sponsored enterprises 0.8 0.8 0.8 1.5 1.1 1.2 0.7 1.1 0.6 1.1 40

 41 Currency outside banks 383.7 405.5 437.3 475.4 561.8 549.3 596.0 639.7 676.2 713.3 41

 42 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 25.7 30.8 42

 43 Miscellaneous liabilities 6.6 6.6 8.7 9.2 8.3 9.3 7.0 8.1 8.3 12.5 43

 44 Federal Reserve Bank stock 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 44

 45 Other 2.6 2.0 3.2 3.3 1.9 2.3 -0.3 -0.2 -0.6 0.6 45

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table L.203.

(3) Federal Reserve loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the AMLF.

(7) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(8) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(9) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(10) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(11) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.
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L.109 Private Depository Institutions (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 5460.7 5695.1 6135.7 6581.3 6996.0 7584.7 7969.5 8623.4 9255.0 10190.3 1

 2 Vault cash 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 2

 3 Reserves at Federal Reserve 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 3

 4 Federal funds and security repos 250.0 223.6 257.7 326.9 269.0 351.9 377.2 400.9 436.4 462.1 4

 5 Credit market instruments 4714.6 4943.1 5278.6 5624.9 6033.7 6476.4 6757.3 7217.8 7765.2 8508.5 5

 6 Open market paper 6.4 7.1 2.9 1.5 3.2 2.7 2.4 1.5 0.7 0.8 6

 7 Treasury securities 312.0 292.6 296.3 236.5 239.9 200.7 180.3 221.3 150.3 123.0 7

 8 Agency- and GSE-backed securities 673.1 697.5 772.0 858.6 902.6 918.4 1013.2 1162.4 1281.7 1311.1 8

 9 Municipal securities 95.4 96.3 98.8 107.3 113.8 117.3 125.0 127.5 139.3 148.2 9

 10 Corporate and foreign bonds 186.5 174.7 188.0 254.1 309.7 364.9 438.6 454.1 568.4 639.6 10

 11 Depository institution loans n.e.c. 1006.6 1088.5 1225.4 1361.5 1448.3 1561.7 1480.7 1388.2 1368.0 1419.2 11

 12 Other loans and advances 22.3 23.4 20.6 11.3 8.2 7.5 4.6 4.6 4.4 4.0 12

 13 Mortgages 1737.9 1846.8 1960.1 2074.3 2270.6 2503.0 2683.5 2991.3 3299.3 3851.6 13

 14 Consumer credit 674.4 716.3 714.6 719.8 737.4 800.3 829.1 867.0 953.1 1011.0 14

 15 Corporate equities 19.3 24.5 25.9 35.7 42.0 43.3 40.3 30.6 49.0 57.5 15

 16 Mutual fund shares 5.2 5.2 10.6 12.8 14.9 17.2 25.1 23.1 21.2 21.3 16

 17 Security credit 27.8 30.7 33.9 31.1 33.4 33.1 28.3 22.3 28.5 30.2 17

 18 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 U.S. direct investment abroad 37.9 42.8 44.2 31.2 36.0 44.5 50.6 51.0 57.5 93.5 19

 20 Miscellaneous assets 335.9 355.4 408.9 450.4 476.4 554.8 626.0 807.3 826.2 951.8 20

 21 Total liabilities 5445.9 5731.6 6217.3 6575.6 6993.9 7638.6 8051.8 8686.8 9280.8 10369.7 21

 22 Net interbank liabilities 76.1 51.5 38.4 40.2 34.7 12.6 -20.8 -11.3 -7.3 -13.4 22

 23 Checkable deposits 820.2 785.9 764.9 737.0 740.8 662.4 757.0 707.3 754.4 802.0 23

 24 Small time and savings deposits 2297.5 2421.1 2550.6 2739.9 2823.7 3054.7 3369.3 3694.7 4002.1 4283.7 24

 25 Large time deposits 667.2 769.7 891.7 919.4 1050.2 1201.8 1241.0 1262.3 1323.1 1597.0 25

 26 Federal funds and security repos 432.7 439.8 508.7 584.8 594.0 670.3 682.1 774.4 784.9 823.3 26

 27 Credit market instruments 203.4 238.6 282.0 372.5 479.8 536.4 563.7 567.5 602.0 685.7 27

 28 Open market paper 22.6 23.6 20.9 11.5 8.6 7.9 4.8 4.6 4.4 4.1 28

 29 Corporate bonds 46.3 53.6 64.5 74.7 78.5 92.6 98.3 97.5 104.0 116.9 29

 30 Other loans and advances 134.5 161.3 196.7 286.2 392.6 435.8 460.6 465.3 493.7 564.8 30

 31 Taxes payable (net) -0.1 2.0 7.3 10.4 12.4 22.1 25.9 35.9 37.7 37.2 31

 32 Foreign direct investment in U.S. 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 32

 33 Miscellaneous liabilities 916.1 992.7 1134.9 1125.4 1196.3 1414.0 1366.3 1582.8 1698.7 2031.6 33

 34 Investment by holding companies 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 34

 35 Investment by funding corporations 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 35

 36 Other 514.8 544.0 640.5 558.1 602.2 679.4 601.3 732.7 821.3 902.0 36

 Memo:

 37 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

(1) U.S.-chartered depository institutions (L.110), foreign banking offices (L.111), banks in U.S.-affiliated areas (L.112), and credit unions (L.113).

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
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Historical Annuals, 1995-2004, September 18, 2014 73

L.110 U.S.-Chartered Depository Institutions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 4586.3 4741.5 5085.4 5496.8 5928.8 6412.9 6750.3 7342.2 7927.8 8796.7 1

 2 Vault cash 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 2

 3 Reserves at Federal Reserve 28.8 23.4 27.9 25.3 22.6 18.1 16.3 20.7 21.3 22.5 3

 4 Federal funds and security repos 196.3 174.5 187.9 245.9 198.2 240.7 278.7 284.4 291.3 327.1 4

 5 Credit market instruments 3961.2 4099.9 4370.4 4707.5 5109.3 5493.4 5725.3 6144.5 6655.2 7323.4 5

 6 Open market paper 4.1 4.5 2.3 0.8 0.7 0.9 0.0 0.0 0.0 0.0 6

 7 Treasury securities 226.0 190.3 181.4 135.0 133.0 96.6 67.8 95.6 105.7 82.6 7

 8 Agency- and GSE-backed securities 586.0 592.8 652.4 722.6 755.4 766.9 861.7 997.5 1105.2 1132.5 8

 9 Residential mortgage pass-through securities 329.9 344.3 371.8 418.7 399.4 406.8 466.3 567.6 605.2 672.1 9

 10 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Residential CMOs and other structured MBS 101.0 89.5 107.0 115.9 120.9 111.0 168.2 159.1 185.8 180.1 11

 12 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Other 155.1 159.0 173.6 188.0 235.2 249.1 227.1 270.9 314.1 280.3 13

 14 Municipal securities 94.7 95.8 98.3 106.9 113.2 116.6 124.5 127.0 138.8 147.8 14

 15 Corporate and foreign bonds 148.0 133.3 142.6 203.0 264.2 311.4 350.3 345.0 378.5 425.1 15

 16 Priv. residential mortgage pass-through securities 29.2 25.2 18.1 17.1 22.8 23.1 38.5 22.6 22.9 27.1 16

 17 Priv. commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Priv. residential CMOs and other structured MBS 24.9 21.8 22.5 42.8 48.8 56.5 59.3 67.4 98.3 148.5 18

 19 Priv. commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Other 93.9 86.4 102.1 143.1 192.6 231.8 252.5 255.1 257.3 249.5 20

 21 Depository institution loans n.e.c. 705.5 765.8 877.3 1017.5 1133.2 1229.3 1167.1 1104.8 1092.1 1131.7 21

 22 Other loans and advances 12.3 13.9 13.7 9.1 6.6 5.9 3.6 3.9 3.8 3.3 22

 23 Mortgages 1642.1 1731.2 1840.2 1948.3 2133.5 2350.0 2510.8 2799.5 3083.9 3604.7 23

 24 Consumer credit 542.4 572.2 562.2 564.4 569.5 615.8 639.5 671.3 747.3 795.6 24

 25 Corporate equities 19.3 24.5 25.9 35.7 42.0 43.3 40.3 30.6 49.0 57.5 25

 26 Mutual fund shares 2.3 2.6 8.1 9.1 12.4 15.0 21.3 19.6 17.1 18.1 26

 27 Security credit 18.7 19.0 19.7 18.4 20.6 18.1 17.1 13.0 22.0 23.0 27

 28 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 U.S. direct investment abroad 37.9 42.8 44.2 31.2 36.0 44.5 50.6 51.0 57.5 93.5 29

 30 Miscellaneous assets 281.3 309.5 356.2 381.6 421.2 495.2 553.3 730.6 766.4 890.1 30

 31 Total liabilities 4539.9 4731.2 5116.0 5461.1 5854.4 6397.4 6787.7 7333.6 7857.7 8826.6 31

 32 Net interbank liabilities 24.6 -6.4 6.2 41.1 92.6 141.2 146.3 158.3 197.3 268.0 32

 33 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 33

 34 Borrowing from Federal Reserve banks 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 34

 35 To domestic banks -43.4 -47.1 -61.5 -47.5 -49.9 -47.8 -43.5 -35.6 -40.0 -26.5 35

 36 To foreign banks 67.7 36.3 65.0 87.0 142.5 187.9 189.8 193.4 237.6 293.6 36

 37 Checkable deposits 774.2 738.6 712.2 676.9 677.7 594.0 681.7 628.0 666.4 705.7 37

 38 Federal government 19.0 28.7 27.8 13.2 49.6 16.4 47.5 31.1 30.2 26.9 38

 39 Rest of the world 18.1 21.6 26.0 23.2 22.7 25.1 22.6 22.3 1.5 11.2 39

 40 Private domestic 737.1 688.3 658.4 640.5 605.5 552.5 611.6 574.6 634.8 667.5 40

 41 Small time and savings deposits 2039.8 2150.8 2262.7 2431.7 2504.3 2721.2 2978.2 3272.7 3549.5 3814.8 41

 42 Large time deposits 359.0 413.1 489.8 539.7 614.4 731.1 726.4 786.4 825.8 1013.8 42

 43 Federal funds and security repos 376.1 366.6 414.9 469.6 497.7 514.2 538.4 582.2 575.7 612.5 43

 44 Credit market instruments 192.7 228.5 274.3 368.9 474.4 531.0 557.7 559.9 592.4 673.6 44

 45 Open market paper 12.3 14.0 13.7 9.1 6.6 6.0 3.7 3.9 3.8 3.4 45

 46 Corporate bonds 46.3 53.6 64.5 74.7 78.5 92.6 98.3 97.5 104.0 116.9 46

 47 Other loans and advances 134.1 160.9 196.1 285.1 389.2 432.4 455.7 458.4 484.6 553.4 47

 48 Taxes payable (net) -0.1 2.0 7.3 10.4 12.4 22.1 25.9 35.9 37.7 37.2 48

 49 Miscellaneous liabilities 773.5 838.0 948.6 922.8 981.0 1142.6 1133.1 1310.1 1412.9 1701.1 49

 50 Investment by holding companies 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 50

 51 Other 422.9 453.7 533.1 446.1 479.8 546.7 476.8 587.3 670.2 739.3 51

 Memo:

 52 Consumer leases not included above (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

(1) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
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74 Historical Annuals, 1995-2004, September 18, 2014

L.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 550.9 608.5 677.2 671.9 637.3 704.3 685.6 702.5 695.6 707.0 1

 2 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Reserves at Federal Reserve 0.8 1.1 2.9 1.0 1.4 0.5 0.6 1.2 0.9 0.7 3

 4 Federal funds and security repos 47.3 47.7 66.4 74.1 61.6 107.1 96.0 114.2 142.2 130.4 4

 5 Credit market instruments 457.1 520.6 565.1 549.3 524.4 548.3 545.8 541.6 516.5 537.9 5

 6 Open market paper 1.7 2.3 0.4 0.3 0.6 0.6 0.0 0.0 0.0 0.0 6

 7 Treasury securities 62.3 80.7 95.1 84.8 94.5 94.0 103.8 116.7 33.4 27.7 7

 8 Agency- and GSE-backed securities 37.3 49.7 62.2 67.4 72.4 72.7 50.7 61.6 53.3 51.8 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate and foreign bonds 38.0 41.0 44.9 50.1 45.0 52.7 86.9 86.0 164.0 188.2 10

 11 Depository institution loans n.e.c. 272.5 305.3 329.6 324.1 294.3 309.5 285.5 257.7 247.6 252.5 11

 12 Other loans and advances 10.1 9.4 6.9 2.2 1.6 1.6 1.0 0.6 0.6 0.7 12

 13 Mortgages 35.1 32.2 26.1 20.4 15.9 17.1 17.9 19.0 17.5 16.9 13

 14 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Security credit 9.1 11.7 14.2 12.7 12.8 15.0 11.2 9.3 6.6 7.2 15

 16 Miscellaneous assets 36.6 27.4 28.5 34.8 37.1 33.5 32.0 36.3 29.6 30.8 16

 17 Total liabilities 609.6 685.6 762.1 738.6 749.5 824.5 787.7 831.6 849.5 919.2 17

 18 Net interbank liabilities 77.6 83.2 58.7 33.6 -12.6 -85.1 -105.0 -104.8 -134.4 -212.2 18

 19 To foreign banks 64.2 64.3 46.1 29.6 -19.2 -106.2 -135.3 -128.9 -161.7 -246.3 19

 20 To domestic banks 13.4 18.9 12.6 4.0 6.6 21.1 30.3 24.0 27.3 34.1 20

 21 Checkable deposits 8.7 8.0 8.8 8.6 9.1 8.7 9.1 8.4 9.5 8.7 21

 22 Small time and savings deposits 8.5 8.7 13.1 9.4 7.5 7.2 11.6 9.4 10.2 9.5 22

 23 Large time deposits 289.0 334.8 377.1 349.8 402.1 432.1 462.4 416.8 426.3 504.2 23

 24 Federal funds and security repos 56.6 73.1 93.8 115.2 96.3 156.1 143.7 191.6 207.9 210.4 24

 25 Open market paper (2) 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 25

 26 Foreign direct investment in U.S. 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 26

 27 Miscellaneous liabilities 126.2 137.9 164.7 173.5 183.0 239.3 197.6 236.2 244.2 275.1 27

 28 Investment by funding corporations 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 28

 29 Other 75.4 73.4 85.9 83.0 90.0 100.6 88.9 108.9 109.5 107.4 29

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.
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Historical Annuals, 1995-2004, September 18, 2014 75

L.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 37.4 38.9 44.4 53.6 57.0 61.6 77.5 72.7 81.2 96.0 1

 2 Credit market instruments 33.4 34.1 37.8 43.8 48.3 55.0 65.0 66.3 76.9 90.8 2

 3 Treasury securities 5.4 4.1 4.2 3.6 2.8 1.8 1.2 1.5 2.5 3.8 3

 4 Agency- and GSE-backed securities 4.0 4.3 6.3 10.2 13.5 17.8 20.3 24.2 28.9 33.6 4

 5 Municipal securities 0.7 0.5 0.5 0.5 0.6 0.7 0.5 0.5 0.6 0.3 5

 6 Corporate and foreign bonds 0.4 0.3 0.4 1.0 0.5 0.8 1.4 1.1 1.4 1.3 6

 7 Depository institution loans n.e.c. 13.1 14.6 15.5 16.3 16.9 18.0 22.5 18.2 18.5 20.3 7

 8 Home mortgages 5.7 6.3 6.4 7.5 8.1 9.1 8.2 9.7 12.2 15.6 8

 9 Commercial mortgages 4.0 3.9 4.4 4.8 6.0 6.8 11.0 11.2 12.8 15.9 9

 10 Miscellaneous assets 4.0 4.8 6.6 9.7 8.7 6.6 12.5 6.4 4.3 5.2 10

 11 Total liabilities 37.2 38.6 43.7 53.1 56.9 60.4 76.8 71.1 78.6 94.0 11

 12 Net interbank liabilities -1.6 -1.4 -1.4 -2.0 -2.2 -1.7 -2.8 -2.5 -2.5 -3.5 12

 13 Checkable deposits 6.4 6.9 7.3 8.5 8.5 8.4 11.5 10.4 11.9 13.5 13

 14 Small time and savings deposits 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 14

 15 Large time deposits 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 15

 16 Miscellaneous liabilities 11.9 12.3 16.9 23.9 26.3 26.5 31.8 30.8 34.2 46.0 16

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

L.113 Credit Unions

Billions of dollars

 1 Total financial assets 286.2 306.2 328.7 359.0 372.9 405.9 456.1 505.9 550.4 590.6 1

 2 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.5 0.5 0.6 0.9 0.8 2

 3 Federal funds and security repos 6.4 1.4 3.5 6.8 9.3 4.0 2.5 2.3 2.9 4.5 3

 4 Credit market instruments 263.0 288.5 305.3 324.2 351.7 379.7 421.2 465.4 516.6 556.4 4

 5 Open market paper 0.6 0.3 0.2 0.4 1.9 1.2 2.4 1.5 0.7 0.8 5

 6 Treasury securities 18.3 17.4 15.6 13.1 9.6 8.2 7.4 7.5 8.8 8.9 6

 7 Agency- and GSE-backed securities 45.7 50.7 51.0 58.4 61.3 60.9 80.6 79.1 94.3 93.1 7

 8 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 24.3 25.0 9

 10 Depository institution loans n.e.c. 15.5 2.9 3.1 3.5 3.9 4.9 5.6 7.5 9.7 14.6 10

 11 Home mortgages 51.0 73.1 83.0 93.3 107.1 119.9 135.7 152.0 172.9 198.6 11

 12 Consumer credit 131.9 144.1 152.4 155.4 167.9 184.4 189.6 195.7 205.9 215.4 12

 13 Mutual fund shares 2.8 2.6 2.4 3.6 2.5 2.2 3.7 3.5 4.1 3.1 13

 14 Miscellaneous assets 13.9 13.8 17.5 24.3 9.4 19.5 28.1 34.0 26.0 25.7 14

 15 Total liabilities 259.2 276.2 295.5 322.8 333.1 356.3 399.7 450.6 495.1 529.9 15

 16 Net interbank liabilities -24.5 -23.9 -25.1 -32.5 -43.0 -41.8 -59.2 -62.3 -67.7 -65.7 16

 17 Shares/deposits 278.8 295.1 315.4 349.0 366.7 389.1 450.2 499.7 545.0 574.5 17

 18 Checkable 30.9 32.5 36.6 43.0 45.4 51.3 54.7 60.5 66.5 74.1 18

 19 Small time and savings 238.9 251.2 264.4 287.5 299.8 312.7 361.3 396.4 424.9 440.4 19

 20 Large time 9.0 11.4 14.4 18.5 21.6 25.1 34.1 42.8 53.6 60.0 20

 21 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 1.3 0.4 21

 22 Other loans and advances 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 22

 23 Miscellaneous liabilities 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 23
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76 Historical Annuals, 1995-2004, September 18, 2014

L.114 Property-Casualty Insurance Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 740.3 770.0 843.5 876.4 869.9 858.1 854.7 934.7 1059.3 1159.1 1

 2 Checkable deposits and currency 4.9 3.9 4.2 4.0 4.3 3.7 13.1 25.9 34.6 25.9 2

 3 Money market fund shares 13.1 12.4 12.3 14.9 9.9 13.4 10.3 15.3 14.3 13.4 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.7 2.7 3.2 2.0 4

 5 Credit market instruments 493.1 514.2 538.2 548.9 536.5 534.3 536.6 584.7 660.5 746.5 5

 6 Open market paper 18.8 17.7 17.6 21.3 14.1 19.1 12.7 15.7 13.7 12.3 6

 7 Treasury securities 139.1 126.2 96.4 76.8 64.9 57.8 57.5 72.0 86.2 106.6 7

 8 Agency- and GSE-backed securities 48.2 51.0 70.8 69.7 75.5 84.1 94.2 113.2 115.4 112.1 8

 9 Municipal securities 161.0 175.4 191.6 208.1 199.0 184.1 173.8 183.0 224.2 267.8 9

 10 Corporate and foreign bonds 123.3 141.6 159.5 171.1 181.1 187.5 196.4 198.9 218.9 245.3 10

 11 Commercial mortgages 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 11

 12 Corporate equities 133.5 147.5 184.3 197.9 205.2 191.4 171.0 149.5 177.9 195.5 12

 13 Mutual fund shares 0.7 1.0 1.7 2.2 2.7 2.9 3.0 2.8 4.7 6.3 13

 14 Trade receivables 57.3 57.2 59.9 61.5 63.6 64.6 69.9 74.8 79.3 79.6 14

 15 U.S. direct investment abroad 37.8 33.6 42.8 47.0 47.8 47.9 49.3 79.0 84.6 89.9 15

 16 Total liabilities 504.9 513.8 526.7 531.0 537.8 546.4 580.0 612.9 670.4 710.9 16

 17 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 2.1 1.2 17

 18 Taxes payable (net) 3.3 3.9 4.4 3.3 3.4 3.4 3.7 -3.7 1.0 1.5 18

 19 Foreign direct investment in U.S. 36.8 38.5 46.2 47.3 51.5 60.9 66.4 63.3 68.2 61.4 19

 20 Miscellaneous liabilities 464.8 471.4 476.2 480.4 482.9 482.1 508.2 552.4 599.0 646.9 20

 21 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Policy payables 464.8 471.4 476.2 480.4 482.9 482.1 508.2 552.4 599.0 646.9 22
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Historical Annuals, 1995-2004, September 18, 2014 77

L.115 Life Insurance Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 2063.6 2246.3 2514.9 2769.5 3067.9 3135.7 3224.8 3335.0 3773.0 4130.3 1

 2 Checkable deposits and currency 5.2 4.3 8.1 5.4 5.5 5.0 36.8 35.3 47.3 53.3 2

 3 Money market fund shares 9.1 9.2 9.3 9.5 9.6 9.8 9.9 12.3 12.6 17.2 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 4.7 2.2 3.6 4

 5 Credit market instruments 1587.5 1657.0 1751.1 1828.0 1886.0 1943.9 2071.5 2300.3 2478.8 2643.9 5

 6 Open market paper 45.5 48.4 65.9 73.4 75.8 71.2 51.7 55.7 37.9 27.4 6

 7 Treasury securities 108.1 93.2 85.5 71.3 62.8 58.1 58.0 89.3 80.2 81.9 7

 8 Agency- and GSE-backed securities 242.9 244.1 226.7 217.0 224.4 235.4 253.5 330.9 348.9 357.1 8

 9 Municipal securities 11.9 13.4 16.7 18.4 20.1 19.1 18.7 19.9 26.1 30.1 9

 10 Corporate and foreign bonds 867.0 946.2 1041.7 1124.4 1166.9 1214.8 1334.3 1440.0 1610.5 1756.3 10

 11 Other loans and advances 99.0 103.6 107.9 109.9 105.4 109.3 112.2 114.4 114.2 117.8 11

 12 Mortgages 213.1 208.2 206.8 213.6 230.8 235.9 243.0 250.0 260.9 273.3 12

 13 Corporate equities 309.6 406.9 539.8 683.2 909.0 892.0 811.3 708.9 919.3 1053.9 13

 14 Mutual fund shares 33.5 42.5 57.2 73.2 98.8 97.0 88.3 76.6 91.7 114.4 14

 15 U.S. direct investment abroad 5.6 6.6 8.6 11.1 9.4 10.4 8.6 12.2 14.4 16.6 15

 16 Miscellaneous assets 113.2 119.8 140.7 159.0 149.7 177.7 197.1 184.8 206.8 227.3 16

 17 Equity in FHLB 0.1 0.2 0.2 0.2 0.3 0.4 0.3 0.5 1.1 1.7 17

 18 Deferred and unpaid life ins. premiums 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 18

 19 Other 95.6 101.3 121.9 141.5 129.9 157.8 177.7 164.3 184.7 203.1 19

 20 Total liabilities 1953.9 2115.6 2359.7 2599.7 2882.8 2942.8 3031.6 3140.4 3539.4 3869.7 20

 21 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 13.9 14.7 13.5 21

 22 Other loans and advances 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 22

 23 Life insurance reserves 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 23

 24 Pension entitlements (2) 890.6 974.0 1009.5 1155.0 1312.9 1373.1 1417.1 1482.8 1646.7 1850.5 24

 25 Taxes payable (net) 12.0 12.5 -1.6 -0.1 0.5 0.1 -0.3 -7.7 -5.8 -2.7 25

 26 Foreign direct investment in U.S. 13.8 17.6 25.2 27.3 32.1 42.9 38.8 49.6 46.6 66.6 26

 27 Miscellaneous liabilities 500.7 529.8 692.2 730.3 785.2 741.6 729.4 715.2 856.5 912.0 27

 28 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 15.6 19.6 23.4 25.9 28

 29 Other reserves (3) 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 29

 30 Unallocated insurance contracts 322.2 341.0 458.6 477.8 511.6 461.4 417.2 371.7 473.5 505.8 30

 31 Other 57.0 59.5 93.7 102.3 111.6 111.3 121.2 138.2 160.1 169.3 31

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables L.115.g and L.115.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 30.

(3) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
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78 Historical Annuals, 1995-2004, September 18, 2014

L.116 Private and Public Pension Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (2) 5759.0 6194.6 6958.9 7636.4 8297.7 8556.3 8687.9 8772.5 9679.9 10630.7 1

 2 Checkable deposits and currency 9.1 13.0 12.3 16.1 16.7 20.7 21.4 23.2 24.2 23.4 2

 3 Time and savings deposits 114.7 121.4 132.7 162.1 122.5 99.4 63.3 59.4 62.0 61.5 3

 4 Money market fund shares 43.8 56.7 72.2 74.8 88.7 94.4 90.5 100.0 97.7 104.8 4

 5 Security repurchase agreements 53.9 55.6 57.2 67.2 72.0 66.4 51.6 46.1 43.9 36.9 5

 6 Credit market instruments 1132.8 1166.7 1275.1 1335.2 1492.0 1404.6 1326.9 1285.6 1382.4 1411.3 6

 7 Open market paper 56.3 59.0 62.0 74.6 84.2 84.4 80.0 81.8 71.0 62.7 7

 8 Treasury securities 342.4 353.6 363.8 346.8 352.4 324.6 301.6 314.6 322.4 324.3 8

 9 Agency- and GSE-backed securities 276.8 271.1 296.0 298.4 361.6 378.3 388.4 381.9 466.7 475.4 9

 10 Corporate and foreign bonds 430.9 456.4 524.1 579.9 653.3 581.5 524.5 475.1 487.2 521.4 10

 11 Mortgages 24.5 26.0 27.7 32.3 37.4 34.1 30.7 31.4 30.6 25.1 11

 12 Corporate equities 1971.8 2268.5 2715.0 3138.7 3474.4 3369.3 3256.1 2723.6 3636.8 4043.3 12

 13 Mutual fund shares 419.9 545.9 828.5 1002.4 1324.6 1429.1 1263.6 1205.2 1473.7 1690.1 13

 14 Miscellaneous assets 2013.1 1967.0 1865.9 1839.9 1706.8 2072.5 2614.6 3329.4 2959.3 3259.4 14

 15 Unallocated insurance contracts (3) 322.2 341.0 458.6 477.8 511.6 461.4 417.2 371.7 473.5 505.8 15

 16 Contributions receivable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 16

 17 Nonmarketable Treasury securities (4) 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 17

 18 Claims of pension fund on sponsor (5) 1000.7 854.8 577.0 472.7 261.8 678.4 1269.9 2002.9 1508.6 1710.0 18

 19 Other 100.1 120.6 131.2 136.1 157.3 154.7 113.3 114.5 112.6 141.1 19

 20 Pension entitlements (liabilities) (6) 5826.9 6268.1 7036.7 7723.6 8396.3 8644.2 8778.2 8857.7 9767.5 10716.6 20

 Memo:

 Funded status of defined benefit plans:

 21 Pension entitlements 4359.3 4589.2 4814.5 5141.2 5444.9 5743.3 6142.9 6458.0 6779.0 7393.6 21

 22 Funded by assets (7) 3367.5 3734.3 4237.5 4668.5 5183.1 5064.9 4872.9 4455.1 5270.5 5683.7 22

 23 Unfunded (line 18) 991.8 854.8 577.0 472.7 261.8 678.4 1269.9 2002.9 1508.6 1710.0 23

 24 Household retirement assets (8) 7843.3 8525.4 9535.4 10751.2 12016.1 12312.9 12473.1 12479.0 13981.2 15432.1 24

 25 Defined benefit plans 4291.3 4515.6 4736.7 5054.0 5346.3 5655.4 6052.6 6372.8 6691.4 7307.7 25

 26 Defined contribution plans 1467.6 1679.0 2222.2 2582.4 2951.4 2900.9 2635.3 2399.7 2988.5 3323.0 26

 27 Individual retirement plans (IRAs) (9) 1288.0 1467.0 1728.0 2150.0 2651.0 2629.0 2619.0 2532.0 2993.0 3299.0 27

 28 Annuities at life insurance companies (10) 796.4 863.7 848.5 964.9 1067.4 1127.5 1166.1 1174.5 1308.3 1502.5 28

(1) Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

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

 and foreign service retirement and disability fund.

(5) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(8) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(9) IRA assets are not included above. See table L.226.i for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs at life insurance companies are excluded. They are included in line 27.
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Historical Annuals, 1995-2004, September 18, 2014 79

L.117 Private Pension Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (2) 2761.5 3012.7 3440.5 3851.0 4229.1 4285.9 4176.9 4033.9 4574.0 4988.6 1

 2 Checkable deposits and currency 4.9 5.5 6.9 6.1 7.4 10.7 9.9 10.2 10.3 10.4 2

 3 Time and savings deposits 110.0 118.8 129.8 159.5 120.3 97.4 61.0 57.1 60.1 55.4 3

 4 Money market fund shares 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 4

 5 Security repurchase agreements 22.4 27.3 28.5 29.7 31.6 26.5 17.7 19.0 20.5 21.0 5

 6 Credit market instruments 606.1 598.4 642.5 633.5 737.5 614.5 577.4 570.6 642.6 642.1 6

 7 Open market paper 23.6 29.0 30.3 32.5 36.6 31.9 24.0 26.0 24.2 24.6 7

 8 Treasury securities 120.5 115.4 117.4 104.0 120.8 111.2 104.3 101.1 114.9 110.5 8

 9 Agency- and GSE-backed securities 212.9 201.2 207.3 189.6 227.7 195.5 198.3 180.3 219.2 230.5 9

 10 Corporate and foreign bonds 240.7 243.6 277.4 297.6 340.7 264.0 241.2 252.8 274.1 266.5 10

 11 Mortgages 8.6 9.3 10.1 9.9 11.7 11.9 9.8 10.3 10.2 10.0 11

 12 Corporate equities 1217.6 1357.1 1544.8 1798.2 1881.4 1892.1 1843.1 1537.9 2027.9 2261.2 12

 13 Mutual fund shares 357.0 472.7 687.8 825.1 1103.3 1174.7 1004.6 968.9 1176.5 1335.8 13

 14 Miscellaneous assets 405.5 383.8 337.6 334.2 270.7 388.7 588.2 785.7 551.8 577.8 14

 15 Unallocated insurance contracts (3) 322.2 341.0 391.0 392.8 406.9 363.6 326.4 292.2 372.9 392.2 15

 16 Contributions receivable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 16

 17 Claims of pension fund on sponsor (4) -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 17

 18 Other 93.8 113.6 123.5 128.6 148.3 145.6 101.6 103.8 101.0 104.7 18

 19 Pension entitlements (liabilities) (5) 2802.0 3056.8 3487.5 3905.2 4286.8 4326.4 4223.4 4075.9 4615.5 5029.2 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 1412.5 1474.3 1536.0 1664.2 1755.6 1826.0 1968.4 2021.1 2064.3 2207.1 20

 21 Funded by assets (6) 1506.7 1634.3 1810.6 1961.9 2132.3 2019.5 1856.7 1681.3 2036.0 2172.8 21

 22 Unfunded (line 17) -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 22

 Total financial assets (7)

 23 Defined benefit plans 1371.9 1430.2 1489.0 1610.0 1698.0 1785.5 1922.0 1979.1 2022.8 2166.5 23

 24 Defined contribution plans 1389.5 1582.5 1951.4 2241.0 2531.1 2500.4 2254.9 2054.8 2551.2 2822.1 24

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on tables L.117.b and L.117.c.
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80 Historical Annuals, 1995-2004, September 18, 2014

L.118 State and Local Government Employee Retirement Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (1) 1398.7 1506.6 1762.6 1944.3 2139.9 2267.6 2431.5 2575.4 2822.8 3253.1 1

 2 Checkable deposits and currency 4.2 7.5 5.4 10.0 9.3 10.0 11.5 13.0 13.8 13.0 2

 3 Time and savings deposits 4.7 2.6 2.9 2.6 2.2 2.0 2.2 2.2 1.9 6.1 3

 4 Money market fund shares 5.9 7.6 9.6 9.9 11.8 13.2 15.4 15.5 13.4 19.9 4

 5 Security repurchase agreements 31.5 28.2 28.6 37.5 40.4 39.8 34.0 27.1 23.4 15.8 5

 6 Credit market instruments 512.1 542.2 604.7 671.0 721.2 754.7 704.6 656.9 674.7 699.1 6

 7 Open market paper 32.7 30.1 31.6 42.2 47.6 52.5 56.1 55.8 46.8 38.1 7

 8 Treasury securities 208.5 213.4 219.9 213.8 200.0 179.7 156.7 163.0 151.8 153.4 8

 9 Agency- and GSE-backed securities 63.4 69.3 87.9 107.8 133.0 181.9 187.4 196.9 241.9 239.1 9

 10 Municipal securities 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 2.5 10

 11 Corporate and foreign bonds 189.7 212.3 246.1 281.6 312.0 316.7 281.8 219.3 209.4 250.9 11

 12 Mortgages 15.9 16.7 17.6 22.4 25.7 22.1 21.0 21.1 20.4 15.0 12

 13 Corporate equities 742.7 892.6 1140.3 1297.5 1536.1 1420.6 1363.9 1139.9 1529.8 1684.3 13

 14 Mutual fund shares 62.9 73.2 140.8 177.3 221.3 254.4 259.0 236.4 297.2 354.4 14

 15 Miscellaneous assets 34.7 -47.4 -169.7 -261.7 -402.3 -227.1 40.9 484.4 268.5 460.5 15

 16 Unallocated insurance contracts (2) 0.0 0.0 67.5 84.9 104.7 97.8 90.8 79.5 100.6 113.6 16

 17 Claims of pension fund on sponsor (3) 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 310.5 17

 18 Other 6.3 7.0 7.6 7.6 8.9 9.1 11.6 10.7 11.6 36.4 18

 19 Pension entitlements (liabilities) (4) 1426.1 1536.0 1793.3 1977.3 2180.9 2315.0 2475.4 2618.6 2868.9 3298.5 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 1382.9 1484.3 1580.4 1709.5 1850.8 2006.4 2189.0 2367.9 2551.6 2940.1 20

 21 Funded by assets (5) 1354.4 1538.7 1825.3 2063.7 2366.7 2340.4 2250.5 1973.7 2395.3 2629.6 21

 22 Unfunded (line 17) 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 310.5 22

 Total financial assets (6)

 23 Defined benefit plans 1355.5 1454.9 1549.7 1676.5 1809.8 1959.0 2145.1 2324.7 2505.5 2894.8 23

 24 Defined contribution plans 43.2 51.7 212.9 267.8 330.1 308.6 286.4 250.8 317.2 358.3 24

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables L.118.b and L.118.c.

L.119 Federal Government Employee Retirement Funds

Billions of dollars

 1 Total financial assets (1) 1598.8 1675.4 1755.9 1841.1 1928.7 2002.9 2079.5 2163.1 2283.1 2388.9 1

 2 Credit market instruments 14.6 26.0 27.9 30.7 33.3 35.4 44.9 58.1 65.1 70.1 2

 3 Treasury securities (2) 13.5 24.8 26.6 29.0 31.7 33.6 40.7 50.5 55.7 60.4 3

 4 Agency- and GSE-backed securities 0.6 0.7 0.7 1.0 0.9 1.0 2.6 4.8 5.7 5.8 4

 5 Corporate and foreign bonds 0.5 0.5 0.6 0.7 0.7 0.7 1.6 2.9 3.7 4.0 5

 6 Corporate equities 11.5 18.8 29.9 43.0 56.9 56.6 49.1 45.7 79.2 97.7 6

 7 Miscellaneous assets 1572.8 1630.6 1698.0 1767.5 1838.5 1910.9 1985.5 2059.3 2138.9 2221.1 7

 8 Nonmarketable Treasury securities (3) 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 8

 9 Claims of pension fund on sponsor (4) 1066.5 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 9

 10 Pension entitlements (liabilities) (5) 1598.8 1675.4 1755.9 1841.1 1928.7 2002.9 2079.5 2163.1 2283.1 2388.9 10

 Memo:

 Funded status of defined benefit plans:

 11 Pension entitlements 1563.9 1630.6 1698.0 1767.5 1838.5 1910.9 1985.5 2069.1 2163.1 2246.4 11

 12 Funded by assets (6) 506.3 561.4 601.7 642.9 684.0 704.9 765.8 800.1 839.1 881.2 12

 13 Unfunded (line 9) 1057.6 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 13

 Total financial assets (7)

 14 Defined benefit plans 1563.9 1630.6 1698.0 1767.5 1838.5 1910.9 1985.5 2069.1 2163.1 2246.4 14

 15 Defined contribution plans 34.9 44.8 57.9 73.6 90.2 91.9 94.0 94.1 120.0 142.5 15

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes nonmarketable Treasury securities held by the Thrift Savings Plan.

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(6) Total defined benefit financial assets less defined benefit claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on tables L.119.b and L.119.c.
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Historical Annuals, 1995-2004, September 18, 2014 81

L.120 Money Market Mutual Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 1

 2 Foreign deposits 19.7 23.1 23.2 30.1 41.1 80.4 111.1 104.3 67.3 68.1 2

 3 Checkable deposits and currency -3.5 -1.1 1.5 -1.0 -3.3 1.3 5.3 -1.3 -1.8 0.8 3

 4 Time and savings deposits 52.3 82.7 111.3 123.9 155.4 157.3 242.0 219.4 161.3 177.3 4

 5 Security repurchase agreements 87.8 103.8 126.6 138.8 140.5 183.6 234.0 278.4 252.2 233.8 5

 6 Credit market instruments 545.5 634.3 721.9 970.8 1156.4 1325.8 1594.3 1564.8 1491.0 1346.3 6

 7 Open market paper 235.5 273.9 336.0 415.1 525.3 627.7 642.0 604.6 470.9 405.0 7

 8 Treasury securities 70.0 90.2 86.2 107.9 103.8 91.9 139.2 142.5 131.9 102.8 8

 9 Agency- and GSE-backed securities 90.8 101.8 96.3 172.4 191.0 187.7 343.4 324.4 332.1 270.0 9

 10 Municipal securities 127.7 144.5 167.0 193.1 211.5 242.2 269.5 285.8 308.9 322.3 10

 11 Corporate and foreign bonds 21.5 23.9 36.4 82.2 124.8 176.4 200.2 207.4 247.3 246.2 11

 12 Miscellaneous assets 39.4 43.8 58.1 61.5 84.8 63.9 53.8 51.5 34.4 41.7 12

 13 Total shares outstanding (liabilities) 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.121 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 1

 2 Security repurchase agreements 50.2 47.5 57.8 70.9 80.8 99.6 70.7 81.6 94.5 112.6 2

 3 Credit market instruments 771.3 820.2 901.1 1028.4 1076.8 1103.1 1229.5 1368.1 1505.1 1619.8 3

 4 Open market paper 50.2 47.2 57.8 70.9 80.8 99.6 70.7 63.1 76.2 94.2 4

 5 Treasury securities 143.8 125.8 136.4 141.0 117.3 127.4 115.5 126.5 136.4 148.9 5

 6 Agency- and GSE-backed securities 171.3 204.4 213.3 234.9 271.1 283.7 370.4 430.8 455.2 462.6 6

 7 Municipal securities 210.2 213.3 219.8 242.6 239.4 230.4 253.0 276.8 289.7 293.8 7

 8 Corporate and foreign bonds 185.5 218.5 259.4 322.0 348.2 337.7 402.9 453.5 531.3 594.2 8

 9 Other loans and advances 10.2 11.0 14.4 17.1 19.9 24.3 17.0 17.5 16.4 26.0 9

 10 Corporate equities 1024.9 1470.0 2018.7 2506.2 3376.7 3226.9 2834.0 2187.4 3051.3 3693.6 10

 11 Miscellaneous assets 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 11

 12 Total shares outstanding (liabilities) 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.122 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Total financial assets 136.4 144.4 145.9 148.8 152.0 141.8 139.5 150.7 205.3 245.0 1

 2 Credit market instruments 94.5 97.4 96.3 101.2 110.8 105.3 108.5 117.1 152.5 163.2 2

 3 Treasury securities 11.1 11.2 9.8 8.8 7.6 6.7 6.7 3.9 4.6 6.8 3

 4 Municipal securities 58.2 59.1 59.4 60.7 69.7 67.7 74.7 86.0 89.2 89.1 4

 5 Corporate and foreign bonds 25.2 27.1 27.1 31.8 33.5 30.9 27.1 27.1 58.8 67.3 5

 6 Corporate equities 41.9 47.0 49.6 47.6 41.2 36.5 31.0 33.6 52.7 81.8 6

 7 Total shares outstanding (liabilities) 136.4 144.4 145.9 148.8 152.0 141.8 139.5 150.7 205.3 245.0 7

 Exchange-traded funds

 8 Total financial assets 1.1 2.4 6.7 15.6 33.9 65.6 83.0 102.0 150.8 227.3 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 4.5 8.2 9

 10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.1 4.9 10

 11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 2.4 3.3 12

 13 Corporate equities 1.1 2.4 6.7 15.6 33.9 65.6 83.0 98.2 146.3 219.0 13

 14 Total shares outstanding (liabilities) 1.1 2.4 6.7 15.6 33.9 65.6 83.0 102.0 150.8 227.3 14
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82 Historical Annuals, 1995-2004, September 18, 2014

L.123 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 897.4 989.2 1100.8 1405.8 1723.2 1965.0 2310.5 2552.2 2797.8 2885.7 1

 2 Checkable deposits and currency 1.5 0.8 2.1 5.0 12.1 4.4 6.7 14.8 28.8 39.1 2

 3 Time and savings deposits 0.0 0.0 6.4 4.7 10.0 22.2 30.3 25.3 16.7 23.3 3

 4 Federal funds and security repos 106.3 94.5 90.4 77.0 89.7 80.6 105.5 98.3 78.8 96.3 4

 5 Credit market instruments 762.8 833.8 934.2 1251.5 1538.8 1794.4 2099.1 2323.1 2564.1 2613.0 5

 6 Open market paper 25.5 35.1 27.6 56.2 23.9 31.1 33.8 10.4 6.7 5.8 6

 7 Treasury securities 58.0 18.8 25.9 25.2 30.9 13.3 13.6 25.7 13.5 12.9 7

 8 Agency- and GSE-backed securities 190.8 256.6 324.2 482.7 655.6 810.9 1017.8 1149.5 1088.9 886.5 8

 9 Municipal securities 7.8 12.1 12.7 19.2 22.7 29.2 35.4 39.4 44.4 44.6 9

 10 Corporate and foreign bonds 29.9 38.1 44.1 68.7 97.5 131.1 155.7 189.3 222.8 414.8 10

 11 Other loans and advances 166.0 195.3 230.7 324.2 432.3 477.6 505.9 514.7 545.8 619.4 11

 12 Sallie Mae 3.5 2.4 1.4 1.1 0.8 0.8 0.8 0.4 0.3 0.0 12

 13 Farm Credit System 30.2 31.6 31.6 34.9 35.8 38.9 41.8 43.8 43.8 43.6 13

 14 FHLB 132.3 161.4 197.8 288.2 395.7 437.9 463.3 470.5 501.7 575.8 14

 15 Mortgages 250.4 244.1 239.4 247.0 242.0 264.3 297.5 357.3 621.5 629.0 15

 16 Home 209.5 202.9 198.2 203.9 193.5 209.6 231.2 276.8 519.1 508.6 16

 17 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other 209.5 202.9 198.2 203.9 193.5 209.6 231.2 276.8 519.1 508.6 18

 19 Multifamily residential 18.5 17.7 16.2 16.2 20.5 25.0 33.2 41.7 68.2 82.5 19

 20 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Other 18.5 17.7 16.2 16.2 20.5 25.0 33.2 41.7 68.2 82.5 21

 22 Farm 22.5 23.5 25.0 27.0 28.1 29.7 33.1 38.8 34.2 38.0 22

 23 Consumer credit (3) 34.3 33.8 29.5 28.4 33.8 37.0 39.4 36.8 20.6 0.0 23

 24 Miscellaneous assets 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 24

 25 Total liabilities 872.1 963.1 1071.1 1371.0 1684.3 1923.5 2278.8 2538.8 2752.8 2819.9 25

 26 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.8 1.7 6.4 5.2 26

 27 Credit market instruments 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 27

 28 GSE issues (4) 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 28

 29 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Other 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 30

 31 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Miscellaneous liabilities 65.1 65.7 74.6 95.6 90.1 97.0 147.4 186.7 145.2 138.5 32

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.124) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

L.124 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Total financial assets 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 1

 2 Home mortgages 1543.4 1678.8 1788.1 1970.2 2234.7 2425.6 2748.5 3063.7 3233.5 3277.3 2

 3 Multifamily residential mortgages 26.9 32.5 37.8 48.3 57.5 66.0 81.6 94.5 108.7 105.7 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.4 0.4 0.4 0.5 1.3 1.6 1.7 0.4 1.0 0.9 5

 6 Total pool securities (liabilities)(2) 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (table L.123). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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Historical Annuals, 1995-2004, September 18, 2014 83

L.125 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 662.9 772.3 907.5 1163.8 1320.5 1496.9 1751.8 1981.6 2218.1 2658.2 1

 2 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.1 0.5 0.9 2.8 8.0 2

 3 Agency- and GSE-backed securities (1) 127.6 123.0 101.2 126.4 167.8 176.6 210.2 284.2 366.6 349.8 3

 4 Other loans and advances 30.0 38.3 64.6 90.3 90.1 104.2 127.7 144.0 149.2 168.1 4

 5 Mortgages (2) 241.3 277.4 340.2 468.2 538.7 604.2 726.4 838.6 1012.3 1458.1 5

 6 Home 193.8 215.4 253.8 321.9 353.7 384.8 463.9 545.6 669.0 1059.2 6

 7 Multifamily residential 11.9 15.7 20.3 33.1 41.6 47.0 53.1 58.6 66.5 73.2 7

 8 Commercial 35.6 46.4 66.1 113.2 143.4 172.3 209.4 234.4 276.8 325.7 8

 9 Consumer credit 213.1 273.5 320.5 393.9 456.7 528.4 597.8 630.4 594.8 571.5 9

 10 Trade credit 50.9 60.1 81.0 85.0 67.2 83.3 89.1 83.5 92.3 102.6 10

 11 Total liabilities 666.4 781.0 918.3 1176.4 1330.3 1503.5 1758.6 1987.3 2223.6 2663.0 11

 12 Commercial paper 101.2 146.7 256.1 381.8 520.8 645.8 607.8 566.1 530.0 526.1 12

 13 Corporate bonds (net) (3) 565.1 634.3 662.2 794.6 809.5 857.7 1150.8 1421.2 1693.6 2136.9 13

 Memo:

 Securitized assets not included above

 14 Consumer leases (4) 3.5 8.7 10.8 12.7 9.7 6.6 6.8 5.7 5.5 4.8 14

 15 REIT assets (5) 7.6 7.4 11.1 13.9 11.5 10.0 6.7 14.8 30.3 89.9 15

 Securitized liabilities not included above

 16 Commercial paper (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Liabilities net of assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(5) Included in table L.127.

(6) Included in table L.110 line 43.

L.126 Finance Companies (1)

Billions of dollars

 1 Total financial assets 705.4 757.9 799.3 859.5 1016.7 1212.9 1304.0 1445.6 1679.5 1858.0 1

 2 Checkable deposits and currency 16.3 19.0 18.6 19.6 21.2 23.7 23.0 25.2 27.1 26.3 2

 3 Time and savings deposits 16.3 19.0 22.7 24.0 31.7 35.6 42.8 46.8 63.2 61.3 3

 4 Credit market instruments 654.6 697.1 720.8 812.8 946.6 1101.9 1170.7 1292.5 1468.7 1675.9 4

 5 Corporate and foreign bonds 95.3 110.8 120.5 127.6 154.6 173.4 192.4 210.5 263.8 256.0 5

 6 Other loans and advances 301.6 304.7 304.1 340.9 395.1 456.2 440.2 444.0 441.7 451.5 6

 7 Mortgages 105.5 126.7 128.6 160.9 195.3 237.9 258.2 330.5 370.2 476.0 7

 8 Consumer credit 152.1 154.9 167.5 183.3 201.6 234.4 280.0 307.5 393.0 492.3 8

 9 U.S. direct investment abroad 22.8 27.9 35.1 58.0 20.5 16.2 11.9 12.4 15.7 14.7 9

 10 Miscellaneous assets -4.6 -5.0 2.2 -54.9 -3.3 35.5 55.6 68.7 104.9 79.8 10

 11 Total liabilities 724.2 783.3 812.9 864.2 1012.7 1233.7 1299.7 1435.1 1674.9 1864.3 11

 12 Credit market instruments 500.4 555.1 584.4 645.3 720.9 807.1 818.0 884.2 995.3 1129.6 12

 13 Open market paper 168.6 178.0 202.6 233.3 230.4 240.1 162.4 147.8 145.1 175.3 13

 14 Corporate bonds 300.0 336.8 341.5 365.6 430.3 503.3 571.3 635.3 743.2 817.4 14

 15 Depository institution loans n.e.c. 31.8 40.3 40.3 46.3 60.1 63.8 84.3 101.1 106.9 136.9 15

 16 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Taxes payable 4.9 5.7 6.5 7.3 8.1 9.1 10.2 11.6 13.2 15.0 17

 18 Foreign direct investment in U.S. 7.5 8.9 5.5 8.0 9.9 9.3 12.9 14.5 30.7 21.8 18

 19 Miscellaneous liabilities 211.5 213.7 216.5 203.6 273.8 408.3 458.6 524.7 635.7 697.8 19

 20 Investment by parent 51.1 54.6 63.1 54.0 112.5 138.6 156.5 179.6 202.8 257.7 20

 21 Other 160.4 159.1 153.4 149.6 161.3 269.7 302.1 345.2 432.9 440.1 21

 Memo:

 22 Consumer leases not included above (2) 80.8 93.2 98.8 96.6 102.9 109.4 107.4 89.8 79.0 74.1 22

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table L.125.
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84 Historical Annuals, 1995-2004, September 18, 2014

L.127 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 33.3 38.2 64.3 70.7 68.3 65.0 75.9 100.6 135.0 251.6 1

 2 Checkable deposits and currency 0.0 2.2 3.3 4.1 4.4 4.4 5.5 5.4 9.2 12.2 2

 3 Credit market instruments 26.0 30.4 50.6 45.5 44.1 38.9 48.0 70.2 96.6 199.1 3

 4 Agency- and GSE-backed securities 9.0 12.2 21.2 13.1 11.4 12.0 20.3 31.8 28.9 44.7 4

 5 Corporate and foreign bonds 2.9 4.3 6.5 6.1 9.2 9.4 9.8 10.4 18.9 36.0 5

 6 Mortgages 14.1 13.8 22.9 26.3 23.5 17.5 17.9 28.1 48.8 118.4 6

 7 Home 6.9 8.0 14.0 14.8 11.3 7.8 8.6 18.7 37.2 103.1 7

 8 Multifamily residential 1.6 1.2 2.1 2.1 2.3 1.7 1.4 1.3 1.5 1.6 8

 9 Commercial 5.6 4.6 6.9 9.4 10.0 8.0 7.9 8.1 10.1 13.6 9

 10 Miscellaneous assets 7.3 5.6 10.5 21.2 19.9 21.7 22.4 25.0 29.3 40.4 10

 11 Total liabilities 62.2 79.4 139.0 205.6 215.9 218.0 231.1 275.5 314.8 461.2 11

 12 Security repurchase agreements 10.9 13.7 24.9 15.1 14.9 12.4 21.6 36.2 41.6 70.3 12

 13 Credit market instruments 44.6 56.5 96.1 158.8 164.8 167.6 171.4 198.4 230.7 340.1 13

 14 Open market paper 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 15.5 16.8 31.6 53.4 61.7 64.6 69.2 83.3 107.1 183.8 15

 16 Depository institution loans n.e.c. 5.0 7.8 17.6 33.6 24.2 19.4 16.4 18.1 17.8 24.9 16

 17 Mortgages 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 17

 18 Miscellaneous liabilities 6.7 9.2 18.0 31.6 36.3 38.1 38.1 40.9 42.5 50.8 18

 Memo:

 19 Securitized assets included above 7.6 7.4 11.1 13.9 11.5 10.0 6.7 14.8 30.3 89.9 19

 20 Agency- and GSE-backed securities 4.2 4.5 4.9 5.0 3.7 3.5 0.3 0.0 0.0 0.0 20

 21 Home mortgages 3.5 2.6 5.7 7.5 5.6 5.4 5.5 13.2 28.9 86.8 21

 22 Multifamily residential mortgages 0.0 0.3 0.4 0.8 0.4 0.1 0.1 0.1 0.1 0.1 22

 23 Commercial mortgages 0.0 0.0 0.0 0.6 2.0 1.1 0.8 1.4 1.3 3.1 23

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables L.127.e and L.127.m.
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Historical Annuals, 1995-2004, September 18, 2014 85

L.128 Security Brokers and Dealers

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1159.3 1310.6 1552.4 1602.5 1727.7 2019.8 2375.6 2352.2 2649.0 3159.8 1

 2 Checkable deposits and currency 13.7 15.7 21.7 25.4 28.7 30.3 47.1 44.2 47.2 62.9 2

 3 Security repurchase agreements 591.2 674.3 773.2 681.3 726.7 798.5 910.0 1016.8 1036.0 1314.9 3

 4 Credit market instruments 183.4 167.7 182.6 189.4 154.7 223.6 316.0 344.4 424.1 394.9 4

 5 Open market paper 22.1 23.7 24.3 28.0 26.0 39.2 48.2 43.5 49.4 48.0 5

 6 Treasury securities 18.3 -12.8 -5.3 15.8 -42.6 -3.3 9.8 -3.9 37.8 -44.6 6

 7 Agency- and GSE-backed securities 54.0 55.2 50.4 50.9 66.0 63.7 77.8 91.8 83.7 107.3 7

 8 Municipal securities 12.7 10.8 13.2 13.1 11.9 11.3 19.0 21.0 24.9 32.0 8

 9 Corporate and foreign bonds 73.8 86.9 92.6 74.7 86.6 103.8 151.0 183.1 219.3 238.0 9

 10 Other loans and advances 2.6 3.9 7.4 6.7 6.8 8.9 10.3 8.9 9.0 14.2 10

 11 Corporate equities 34.2 37.9 51.9 54.4 66.9 77.2 85.1 74.9 100.5 129.1 11

 12 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 12

 13 U.S. direct investment abroad 2.8 12.4 4.2 7.7 49.9 61.0 83.0 100.5 137.3 189.2 13

 14 Miscellaneous assets 255.3 308.2 387.7 491.6 472.9 594.1 738.0 623.2 721.5 804.8 14

 15 Total liabilities 1133.0 1283.7 1523.3 1567.1 1687.2 1983.7 2334.6 2289.5 2576.1 3092.8 15

 16 Security repurchase agreements 827.5 898.1 1060.9 985.5 1037.5 1194.4 1362.2 1487.5 1653.1 1950.6 16

 17 Credit market instruments 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 17

 18 Corporate bonds 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 18

 19 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Trade payables 10.3 14.3 19.9 18.9 30.9 35.9 39.2 37.4 28.2 36.0 20

 21 Security credit 173.2 220.7 253.7 323.4 383.1 493.9 530.4 464.1 549.6 665.4 21

 22 From households 145.4 189.9 219.8 292.3 349.7 460.7 502.1 441.9 521.1 635.2 22

 23 From U.S.-chartered depository institutions 18.7 19.0 19.7 18.4 20.6 18.1 17.1 13.0 22.0 23.0 23

 24 From foreign banking offices in U.S. 9.1 11.7 14.2 12.7 12.8 15.0 11.2 9.3 6.6 7.2 24

 25 Taxes payable 1.1 1.3 1.3 1.3 2.2 2.1 1.9 1.3 1.8 2.2 25

 26 Foreign direct investment in U.S. 17.4 20.8 29.4 29.7 38.7 54.0 56.1 35.4 37.4 49.6 26

 27 Miscellaneous liabilities 74.3 101.3 122.6 165.7 169.6 162.6 302.5 223.1 259.0 326.7 27

 28 Investment by parent companies 168.6 209.7 248.3 321.9 356.9 360.5 351.7 349.3 379.8 390.3 28

 29 Other -94.3 -108.4 -125.6 -156.2 -187.3 -197.9 -49.3 -126.2 -120.8 -63.5 29

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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86 Historical Annuals, 1995-2004, September 18, 2014

L.129 Holding Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 493.5 542.0 606.8 729.7 793.0 898.6 1028.0 1143.2 1315.1 1596.2 1

 2 Time and savings deposits 0.8 0.5 0.3 0.9 0.6 0.6 0.7 1.7 1.6 1.8 2

 3 Federal funds and security repos 0.8 0.9 1.5 5.8 6.9 7.0 6.1 5.5 6.0 2.1 3

 4 Credit market instruments 18.0 22.0 27.4 26.5 32.7 20.5 24.7 27.8 36.4 36.4 4

 5 Treasury securities 3.4 4.0 4.0 0.9 8.8 0.8 1.2 1.3 2.7 2.0 5

 6 Agency- and GSE-backed securities 4.7 4.9 5.5 6.6 5.4 4.8 6.2 10.7 11.6 13.5 6

 7 Corporate and foreign bonds 7.7 10.5 15.5 14.8 15.9 13.2 15.3 12.9 14.2 15.5 7

 8 Other loans and advances 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 8

 9 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Miscellaneous assets 473.9 518.6 577.6 696.5 752.9 870.6 996.5 1108.3 1271.1 1555.9 10

 11 Net trans. with depository subs. 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 11

 12 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Net trans. with life insurance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 15.6 19.6 23.4 25.9 13

 14 Net trans. with finance company subs. 28.6 31.5 35.2 36.0 83.9 109.2 144.9 161.1 181.8 234.1 14

 15 Net trans. with broker and dealer subs. 53.8 43.5 47.0 85.2 54.2 56.8 24.0 1.4 21.1 23.2 15

 16 Net trans. with foreign subs. 18.5 22.6 21.9 21.3 25.4 -7.1 -10.4 -11.1 33.1 7.5 16

 17 Other 22.4 36.7 58.0 77.4 88.2 115.9 166.2 214.5 269.0 303.4 17

 18 Total liabilities 182.0 206.9 247.3 302.9 357.6 399.9 462.6 523.9 626.6 706.7 18

 19 Federal funds and security repos 0.3 0.8 1.3 6.1 7.4 5.8 4.9 6.6 8.1 2.9 19

 20 Credit market instruments 155.3 168.0 186.3 221.2 260.4 288.2 305.5 325.1 376.0 431.7 20

 21 Commercial paper 30.1 32.0 37.6 45.4 54.5 55.7 50.6 48.3 42.3 53.1 21

 22 Corporate bonds 117.9 118.0 131.0 148.1 164.8 186.8 215.5 238.1 279.5 328.2 22

 23 Depository institution loans n.e.c. 7.3 18.0 17.7 27.7 41.1 45.6 39.4 38.7 54.2 50.4 23

 24 Miscellaneous liabilities 26.5 38.2 59.7 75.5 89.8 105.9 152.3 192.2 242.5 272.1 24

(1) Parent-only bank holding companies and savings and loan holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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Historical Annuals, 1995-2004, September 18, 2014 87

L.130 Funding Corporations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 365.7 511.4 650.4 791.9 1064.1 1155.9 1238.7 1176.7 1231.8 1280.6 1

 2 Money market fund shares 110.1 175.7 213.4 309.1 400.5 429.0 583.5 565.0 490.0 368.9 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 90.1 104.9 156.9 155.5 267.9 284.4 218.7 136.5 248.4 376.8 4

 5 Open market paper 65.5 66.0 120.3 113.6 227.3 250.0 138.6 71.9 129.8 273.0 5

 6 Corporate and foreign bonds 23.8 36.5 33.1 37.6 33.8 24.9 70.8 56.4 111.3 96.8 6

 7 Other loans and advances 0.9 2.4 3.4 4.4 6.8 9.5 9.4 8.2 7.3 7.0 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 165.5 230.7 280.1 327.3 395.7 442.4 436.5 475.2 493.4 534.8 9

 10 Investment in foreign banking offices 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 10

 11 Investment in brokers and dealers 114.8 166.3 201.3 236.8 302.7 303.8 327.7 347.9 358.7 367.1 11

 12 Total liabilities 365.7 511.4 650.4 791.9 1064.1 1155.9 1238.7 1176.7 1231.8 1280.6 12

 13 Credit market instruments 248.6 312.4 372.6 412.6 504.2 502.6 531.9 521.2 518.1 515.1 13

 14 Open market paper 164.2 198.8 228.5 234.4 268.6 265.1 272.2 231.1 212.5 197.4 14

 15 Corporate bonds 84.4 113.6 144.2 178.2 235.5 237.5 259.7 290.1 305.5 317.7 15

 16 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Foreign direct investment in U.S. -82.2 -79.2 -81.2 -59.5 -8.5 6.6 7.7 7.3 7.6 7.8 18

 19 Miscellaneous liabilities 199.3 278.3 358.9 438.9 568.4 646.7 699.1 648.2 706.2 757.6 19

 20 Securities loaned (net) 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 20

 21 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other (net) -16.8 2.2 25.7 35.6 148.9 138.5 120.8 72.8 28.2 -7.2 22

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP.
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88 Historical Annuals, 1995-2004, September 18, 2014

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 82.1 71.1 65.5 77.6 67.2 63.0 63.8 74.5 82.0 83.1 1

 2 Federal government: SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 2

 3 Rest of the world 74.8 64.0 58.9 70.7 60.5 56.6 57.6 67.8 74.7 75.5 3

 4 SDR holdings 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 4

 5 Reserve position in IMF 14.6 15.4 18.1 24.1 18.0 14.8 17.9 22.0 22.5 19.5 5

 6 Other reserves 49.1 38.3 30.8 36.0 32.2 31.2 29.0 33.7 39.5 42.5 6

 7 Total assets 93.1 82.1 76.6 88.7 78.2 74.0 74.8 85.5 93.0 94.2 7

 8 Federal government 53.8 44.9 42.0 51.0 44.5 41.1 43.2 51.0 55.0 54.3 8

 9 Monetary gold (2) 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 10

 11 Reserve position in IMF 14.7 15.5 18.2 24.2 18.1 14.9 18.0 22.1 22.7 19.6 11

 12 Other reserves 28.0 19.0 13.8 16.2 16.0 15.6 14.4 16.7 19.7 21.1 12

 13 Rest of the world: SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 13

 14 Monetary authority 32.1 30.2 28.0 30.7 27.1 26.6 25.5 27.9 30.8 32.3 14

 15 Monetary gold (2) 11.1 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

 16 Reserve position in IMF -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

 17 Other reserves 21.1 19.3 17.0 19.8 16.1 15.7 14.6 16.9 19.9 21.4 17

 18 Discrepancy: monetary gold -11.1 -11.0 -11.1 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

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

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 1

 2 Asset: Monetary authority 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 2

 Treasury currency:

 3 Liab: Federal government 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 3

 4 Asset: Monetary authority 24.0 25.0 25.5 26.3 28.0 31.6 33.0 34.6 35.5 36.4 4

 5 Discrepancy (seigniorage) -5.7 -6.1 -6.2 -6.4 -7.1 -8.5 -8.6 -9.1 -9.5 -9.7 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 418.8 521.7 618.5 627.6 676.5 803.3 810.1 914.4 953.8 1142.2 1

 Held by:

 2 Household sector 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.8 61.8 2

 3 Nonfinancial corporate business 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 3

 4 Money market mutual funds 19.7 23.1 23.2 30.1 41.1 80.4 111.1 104.3 67.3 68.1 4

 5 Discrepancy--unallocated assets 358.4 434.9 535.0 529.2 563.3 650.6 634.8 739.6 795.5 958.7 5
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Historical Annuals, 1995-2004, September 18, 2014 89

L.203 Net Interbank Transactions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 146.2 121.2 114.2 108.6 125.3 76.0 44.1 59.0 63.7 52.2 1

 2 Monetary authority 70.2 69.7 75.8 68.4 90.6 63.4 64.8 70.4 71.0 65.6 2

 3 U.S.-chartered depository institutions 24.6 -6.4 6.2 41.1 92.6 141.2 146.3 158.3 197.3 268.0 3

 4 Foreign banking offices in U.S. 77.6 83.2 58.7 33.6 -12.6 -85.1 -105.0 -104.8 -134.4 -212.2 4

 5 Banks in U.S.-affiliated areas -1.6 -1.4 -1.4 -2.0 -2.2 -1.7 -2.8 -2.5 -2.5 -3.5 5

 6 Credit unions -24.5 -23.9 -25.1 -32.5 -43.0 -41.8 -59.2 -62.3 -67.7 -65.7 6

 7 Total assets 202.3 174.7 189.6 186.6 213.9 146.2 119.3 135.4 146.6 113.8 7

 8 Rest of the world 131.9 100.6 111.0 116.6 123.3 81.7 54.4 64.6 75.9 47.3 8

 9 Monetary authority 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 9

 10 U.S.-chartered depository institutions 69.3 68.6 72.9 67.4 89.1 62.5 63.6 68.5 69.3 64.0 10

 11 Foreign banking offices in U.S. 0.8 1.1 2.9 1.0 1.4 0.5 0.6 1.2 0.9 0.7 11

 12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.5 0.5 0.6 0.9 0.8 12

 13 Discrepancy -56.1 -53.5 -75.4 -78.0 -88.6 -70.1 -75.2 -76.4 -82.9 -61.6 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 14

 15 Asset: U.S.-chartered depository institutions 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 17

 18 Asset: U.S.-chartered depository institutions 28.8 23.4 27.9 25.3 22.6 18.1 16.3 20.7 21.3 22.5 18

 19 Foreign banking offices in U.S. 0.8 1.1 2.9 1.0 1.4 0.5 0.6 1.2 0.9 0.7 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.5 0.5 0.6 0.9 0.8 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 21

 22 Asset: Monetary authority 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 22

 23 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 23

 24 Loans to member banks 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) 68.7 43.2 72.8 99.0 153.3 196.6 198.6 212.8 254.1 317.9 25

 26 Due to foreign affiliates 143.4 141.1 196.3 219.2 257.4 334.3 348.8 339.2 453.6 491.1 26

 27 - Due from foreign affiliates 74.7 97.9 123.5 120.2 104.2 137.7 150.2 126.4 199.5 173.2 27

 28 Foreign banking offices in U.S. (net) 36.1 40.4 23.3 32.7 -18.4 -105.8 -138.0 -131.7 -163.2 -241.5 28

 29 Due to foreign affiliates 259.5 265.3 322.4 375.6 368.9 335.0 397.3 459.5 414.5 484.8 29

 30 - Due from foreign affiliates 223.4 224.9 299.1 342.8 387.2 440.7 535.3 591.2 577.8 726.4 30

 31 Less: Deposits at foreign banks 12.2 16.7 17.0 49.6 38.9 33.7 26.3 32.7 31.6 44.3 31

 32 U.S.-chartered depository institutions 5.6 10.8 11.8 18.6 17.1 14.5 13.8 23.1 20.8 27.3 32

 33 Foreign banking offices in U.S. 6.6 5.9 5.2 30.9 21.9 19.1 12.6 9.6 10.8 17.0 33

 34 Plus: Loans from foreign banks 39.3 33.7 32.0 34.4 27.3 24.5 20.2 16.2 16.6 15.2 34

 35 U.S.-chartered depository institutions 4.6 3.9 4.0 6.6 6.4 5.8 4.9 3.7 4.3 3.0 35

 36 Foreign banking offices in U.S. 34.7 29.8 28.0 27.8 21.0 18.7 15.3 12.5 12.3 12.2 36

 37 Asset: Rest of the world (1) 131.9 100.6 111.0 116.6 123.3 81.7 54.4 64.6 75.9 47.3 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) -43.4 -47.1 -61.5 -47.5 -49.9 -47.8 -43.5 -35.6 -40.0 -26.5 38

 39 Due to (3): 51.6 41.3 17.6 6.8 27.8 32.3 36.3 34.5 37.1 72.2 39

 40 Foreign banking offices in U.S. 81.6 69.5 66.5 50.3 71.1 59.0 49.5 46.0 49.8 64.6 40

 41 Banks in U.S.-affiliated areas 1.6 1.4 1.4 2.0 2.2 1.7 2.8 2.5 2.5 3.5 41

 42 Credit unions 24.5 23.9 25.1 32.5 43.0 41.8 59.2 62.3 67.7 65.7 42

 43 - Due from: Foreign banking offices in U.S. 95.0 88.4 79.1 54.3 77.8 80.1 79.8 70.1 77.1 98.7 43

 44 Unallocated (2) -56.1 -53.5 -75.4 -78.0 -88.6 -70.1 -75.2 -76.4 -82.9 -61.6 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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90 Historical Annuals, 1995-2004, September 18, 2014

L.204 Checkable Deposits and Currency

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.8 1353.0 1437.4 1522.8 1

 2 Monetary authority 391.2 414.4 444.3 483.3 591.5 556.4 603.8 645.7 683.0 720.8 2

 3 Federal government cash and deposits 6.2 8.0 5.7 6.2 28.5 5.6 7.1 4.8 6.0 6.2 3

 4 Due to government-sponsored enterprises 0.8 0.8 0.8 1.5 1.1 1.2 0.7 1.1 0.6 1.1 4

 5 Deposits due to foreign 0.4 0.2 0.5 0.2 0.1 0.2 0.1 0.1 0.2 0.1 5

 6 Currency outside banks 383.7 405.5 437.3 475.4 561.8 549.3 596.0 639.7 676.2 713.3 6

 7 U.S.-chartered depository institutions 774.2 738.6 712.2 676.9 677.7 594.0 681.7 628.0 666.4 705.7 7

 8 Federal government deposits 19.0 28.7 27.8 13.2 49.6 16.4 47.5 31.1 30.2 26.9 8

 9 Deposits due to foreign 18.1 21.6 26.0 23.2 22.7 25.1 22.6 22.3 1.5 11.2 9

 10 Private domestic deposits 737.1 688.3 658.4 640.5 605.5 552.5 611.6 574.6 634.8 667.5 10

 11 Foreign banking offices in U.S. 8.7 8.0 8.8 8.6 9.1 8.7 9.1 8.4 9.5 8.7 11

 12 Deposits due to foreign 6.0 5.3 5.7 5.4 6.0 5.6 3.2 2.9 2.5 2.0 12

 13 Private domestic deposits 2.7 2.7 3.1 3.2 3.2 3.1 5.8 5.6 7.0 6.7 13

 14 Banks in U.S.-affiliated areas 6.4 6.9 7.3 8.5 8.5 8.4 11.5 10.4 11.9 13.5 14

 15 Credit unions 30.9 32.5 36.6 43.0 45.4 51.3 54.7 60.5 66.5 74.1 15

 16 Total assets 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.8 1353.0 1437.4 1522.8 16

 17 Household sector 586.5 544.8 503.9 528.7 508.9 405.4 480.1 464.1 458.0 399.8 17

 18 Nonfinancial business 326.5 328.0 339.0 329.2 363.9 407.3 354.3 344.7 394.8 504.7 18

 19 Corporate 206.7 189.0 177.7 161.8 191.3 226.4 172.5 160.2 204.2 207.2 19

 20 Noncorporate 119.8 139.0 161.3 167.4 172.6 181.0 181.8 184.5 190.6 297.5 20

 21 State and local governments 38.7 33.1 37.5 33.6 37.5 37.7 41.7 46.7 53.7 50.3 21

 22 Federal government 22.2 38.3 41.6 23.2 87.9 24.3 66.9 47.7 54.3 22.2 22

 23 Rest of the world 158.5 175.2 202.7 213.2 237.5 236.3 255.1 273.4 262.9 285.3 23

 24 Checkable deposits 24.5 27.1 32.2 28.8 28.7 30.9 25.9 25.3 4.2 13.3 24

 25 Currency 133.9 148.1 170.5 184.4 208.8 205.4 229.2 248.1 258.7 272.0 25

 26 Financial sectors 47.2 57.8 71.8 78.5 89.4 93.5 158.9 172.6 216.3 243.9 26

 27 Property-casualty insurance companies 4.9 3.9 4.2 4.0 4.3 3.7 13.1 25.9 34.6 25.9 27

 28 Life insurance companies 5.2 4.3 8.1 5.4 5.5 5.0 36.8 35.3 47.3 53.3 28

 29 Private pension funds 4.9 5.5 6.9 6.1 7.4 10.7 9.9 10.2 10.3 10.4 29

 30 State and local govt. retirement funds 4.2 7.5 5.4 10.0 9.3 10.0 11.5 13.0 13.8 13.0 30

 31 Money market mutual funds -3.5 -1.1 1.5 -1.0 -3.3 1.3 5.3 -1.3 -1.8 0.8 31

 32 Government-sponsored enterprises 1.5 0.8 2.1 5.0 12.1 4.4 6.7 14.8 28.8 39.1 32

 33 Finance companies 16.3 19.0 18.6 19.6 21.2 23.7 23.0 25.2 27.1 26.3 33

 34 REITs 0.0 2.2 3.3 4.1 4.4 4.4 5.5 5.4 9.2 12.2 34

 35 Brokers and dealers 13.7 15.7 21.7 25.4 28.7 30.3 47.1 44.2 47.2 62.9 35

 36 Mail float 31.9 23.1 12.7 13.9 7.1 14.4 3.9 3.6 -2.6 16.7 36
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Historical Annuals, 1995-2004, September 18, 2014 91

L.205 Time and Savings Deposits 

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2964.7 3190.8 3442.2 3659.2 3873.9 4256.5 4610.3 4956.9 5325.2 5880.7 1

 2 Small time and savings deposits 2297.5 2421.1 2550.6 2739.9 2823.7 3054.7 3369.3 3694.7 4002.1 4283.7 2

 3 U.S.-chartered depository institutions 2039.8 2150.8 2262.7 2431.7 2504.3 2721.2 2978.2 3272.7 3549.5 3814.8 3

 4 Foreign banking offices in U.S. 8.5 8.7 13.1 9.4 7.5 7.2 11.6 9.4 10.2 9.5 4

 5 Banks in U.S.-affiliated areas 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 5

 6 Credit unions 238.9 251.2 264.4 287.5 299.8 312.7 361.3 396.4 424.9 440.4 6

 7 Large time deposits (1) 667.2 769.7 891.7 919.4 1050.2 1201.8 1241.0 1262.3 1323.1 1597.0 7

 8 U.S.-chartered depository institutions 359.0 413.1 489.8 539.7 614.4 731.1 726.4 786.4 825.8 1013.8 8

 9 Foreign banking offices in U.S. 289.0 334.8 377.1 349.8 402.1 432.1 462.4 416.8 426.3 504.2 9

 10 Banks in U.S.-affiliated areas 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 10

 11 Credit unions 9.0 11.4 14.4 18.5 21.6 25.1 34.1 42.8 53.6 60.0 11

 12 Total assets 2964.7 3190.8 3442.2 3659.2 3873.9 4256.5 4610.3 4956.9 5325.2 5880.7 12

 13 Household sector 2345.4 2486.9 2623.0 2706.3 2807.9 3071.5 3354.6 3657.9 4015.7 4483.2 13

 14 Nonfinancial business 171.1 204.7 250.1 319.0 416.4 519.9 535.8 560.5 676.6 701.1 14

 15 Corporate 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 15

 16 Noncorporate 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 300.6 16

 17 State and local governments 61.7 72.2 77.9 92.6 106.7 117.4 129.3 138.1 158.0 165.8 17

 18 Federal government 0.9 2.4 3.4 4.7 5.4 6.3 10.5 27.6 2.4 2.4 18

 19 Rest of the world 201.3 201.1 214.4 221.0 217.4 226.4 200.9 220.3 167.8 202.9 19

 20 Financial sectors 184.2 223.6 273.4 315.6 320.2 315.0 379.1 352.5 304.7 325.3 20

 21 Private pension funds 110.0 118.8 129.8 159.5 120.3 97.4 61.0 57.1 60.1 55.4 21

 22 State and local govt. retirement funds 4.7 2.6 2.9 2.6 2.2 2.0 2.2 2.2 1.9 6.1 22

 23 Money market mutual funds 52.3 82.7 111.3 123.9 155.4 157.3 242.0 219.4 161.3 177.3 23

 24 Government-sponsored enterprises 0.0 0.0 6.4 4.7 10.0 22.2 30.3 25.3 16.7 23.3 24

 25 Finance companies 16.3 19.0 22.7 24.0 31.7 35.6 42.8 46.8 63.2 61.3 25

 26 Holding companies 0.8 0.5 0.3 0.9 0.6 0.6 0.7 1.7 1.6 1.8 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Total assets 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 1

 2 Household sector 472.4 500.9 571.3 667.4 769.5 937.3 1101.0 1068.4 954.5 898.3 2

 3 Nonfinancial corporate business 60.0 94.6 118.8 161.7 196.8 213.9 314.1 319.7 289.3 299.6 3

 4 Nonfinancial noncorporate business 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 66.5 4

 5 State and local governments 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 63.5 76.3 5

 6 Rest of the world 5.1 5.8 6.6 7.3 8.1 11.2 15.1 16.3 18.8 22.9 6

 7 Property-casualty insurance companies 13.1 12.4 12.3 14.9 9.9 13.4 10.3 15.3 14.3 13.4 7

 8 Life insurance companies 9.1 9.2 9.3 9.5 9.6 9.8 9.9 12.3 12.6 17.2 8

 9 Private pension funds 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 9

 10 State and local govt. retirement funds 5.9 7.6 9.6 9.9 11.8 13.2 15.4 15.5 13.4 19.9 10

 11 Funding corporations 110.1 175.7 213.4 309.1 400.5 429.0 583.5 565.0 490.0 368.9 11
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92 Historical Annuals, 1995-2004, September 18, 2014

L.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1271.4 1352.4 1595.8 1591.6 1653.7 1882.9 2212.5 2503.9 2776.3 3285.8 1

 2 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 138.0 161.6 239.9 388.1 2

 3 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 25.7 30.8 3

 4 U.S.-chartered depository institutions 376.1 366.6 414.9 469.6 497.7 514.2 538.4 582.2 575.7 612.5 4

 5 Foreign banking offices in U.S. 56.6 73.1 93.8 115.2 96.3 156.1 143.7 191.6 207.9 210.4 5

 6 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 1.3 0.4 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 2.1 1.2 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 13.9 14.7 13.5 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.8 1.7 6.4 5.2 9

 10 REITs 10.9 13.7 24.9 15.1 14.9 12.4 21.6 36.2 41.6 70.3 10

 11 Brokers and dealers 827.5 898.1 1060.9 985.5 1037.5 1194.4 1362.2 1487.5 1653.1 1950.6 11

 12 Holding companies 0.3 0.8 1.3 6.1 7.4 5.8 4.9 6.6 8.1 2.9 12

 13 Total assets 1339.8 1444.2 1634.9 1630.0 1765.1 1869.1 2095.4 2286.2 2593.2 3091.7 13

 14 Nonfinancial corporate business 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 14

 15 State and local governments 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 117.2 124.3 15

 16 Rest of the world 67.6 70.9 90.8 72.0 79.9 91.3 151.1 190.1 473.2 663.7 16

 17 Monetary authority 13.9 21.6 23.8 30.4 140.6 43.4 50.3 39.5 43.8 33.0 17

 18 U.S.-chartered depository institutions 196.3 174.5 187.9 245.9 198.2 240.7 278.7 284.4 291.3 327.1 18

 19 Foreign banking offices in U.S. 47.3 47.7 66.4 74.1 61.6 107.1 96.0 114.2 142.2 130.4 19

 20 Credit unions 6.4 1.4 3.5 6.8 9.3 4.0 2.5 2.3 2.9 4.5 20

 21 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 2.7 3.2 2.0 21

 22 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 4.7 2.2 3.6 22

 23 Private pension funds 22.4 27.3 28.5 29.7 31.6 26.5 17.7 19.0 20.5 21.0 23

 24 State and local govt. retirement funds 31.5 28.2 28.6 37.5 40.4 39.8 34.0 27.1 23.4 15.8 24

 25 Money market mutual funds 87.8 103.8 126.6 138.8 140.5 183.6 234.0 278.4 252.2 233.8 25

 26 Mutual funds 50.2 47.5 57.8 70.9 80.8 99.6 70.7 81.6 94.5 112.6 26

 27 Government-sponsored enterprises 106.3 94.5 90.4 77.0 89.7 80.6 105.5 98.3 78.8 96.3 27

 28 Brokers and dealers 591.2 674.3 773.2 681.3 726.7 798.5 910.0 1016.8 1036.0 1314.9 28

 29 Holding companies 0.8 0.9 1.5 5.8 6.9 7.0 6.1 5.5 6.0 2.1 29

 30 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Discrepancy -68.4 -91.9 -39.1 -38.4 -111.4 13.8 117.1 217.7 183.1 194.0 31
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Historical Annuals, 1995-2004, September 18, 2014 93

L.208 Open Market Paper

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total outstanding, all types 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 1

 2 Commercial paper 677.7 779.4 958.5 1161.0 1393.8 1606.1 1469.2 1370.3 1288.6 1395.0 2

 3 Nonfinancial corporate business 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 3

 4 Foreign issues in U.S. 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 276.1 345.3 4

 5 Nonfinancial 20.6 18.7 20.0 18.5 26.7 37.6 19.5 19.3 15.5 13.3 5

 6 Financial 35.6 48.8 45.0 54.4 62.5 83.3 178.9 237.9 260.6 332.0 6

 7 Financial business 464.2 555.5 724.8 895.2 1074.3 1206.7 1093.0 993.3 930.0 951.9 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 101.2 146.7 256.1 381.8 520.8 645.8 607.8 566.1 530.0 526.1 9

 10 Finance companies 168.6 178.0 202.6 233.3 230.4 240.1 162.4 147.8 145.1 175.3 10

 11 REITs 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 30.1 32.0 37.6 45.4 54.5 55.7 50.6 48.3 42.3 53.1 12

 13 Funding corporations 164.2 198.8 228.5 234.4 268.6 265.1 272.2 231.1 212.5 197.4 13

 14 Bankers’ acceptances (1) 22.6 23.6 20.9 11.5 8.6 7.9 4.8 4.6 4.4 4.1 14

 15 U.S.-chartered depository institutions 12.3 14.0 13.7 9.1 6.6 6.0 3.7 3.9 3.8 3.4 15

 16 Foreign banking offices in U.S. 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 16

 17 Holdings, by sector 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 17

 18 Household sector 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 18

 19 Nonfinancial corporate business 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 19

 20 State and local governments 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 150.6 153.4 20

 21 Rest of the world 43.4 57.9 77.8 111.4 105.0 114.3 108.4 128.5 133.1 137.7 21

 22 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 U.S.-chartered depository institutions (1) 4.1 4.5 2.3 0.8 0.7 0.9 0.0 0.0 0.0 0.0 23

 24 Foreign banking offices in U.S. (1) 1.7 2.3 0.4 0.3 0.6 0.6 0.0 0.0 0.0 0.0 24

 25 Credit unions 0.6 0.3 0.2 0.4 1.9 1.2 2.4 1.5 0.7 0.8 25

 26 Property-casualty insurance companies 18.8 17.7 17.6 21.3 14.1 19.1 12.7 15.7 13.7 12.3 26

 27 Life insurance companies 45.5 48.4 65.9 73.4 75.8 71.2 51.7 55.7 37.9 27.4 27

 28 Private pension funds 23.6 29.0 30.3 32.5 36.6 31.9 24.0 26.0 24.2 24.6 28

 29 State and local govt. retirement funds 32.7 30.1 31.6 42.2 47.6 52.5 56.1 55.8 46.8 38.1 29

 30 Money market mutual funds 235.5 273.9 336.0 415.1 525.3 627.7 642.0 604.6 470.9 405.0 30

 31 Mutual funds 50.2 47.2 57.8 70.9 80.8 99.6 70.7 63.1 76.2 94.2 31

 32 Government-sponsored enterprises 25.5 35.1 27.6 56.2 23.9 31.1 33.8 10.4 6.7 5.8 32

 33 Brokers and dealers 22.1 23.7 24.3 28.0 26.0 39.2 48.2 43.5 49.4 48.0 33

 34 Funding corporations 65.5 66.0 120.3 113.6 227.3 250.0 138.6 71.9 129.8 273.0 34

(1) Excludes banks’ holdings of own acceptances.
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94 Historical Annuals, 1995-2004, September 18, 2014

L.209 Treasury Securities

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 1

 2 U.S. savings securities (1) 185.0 187.0 186.5 186.6 186.4 184.8 190.4 194.9 203.9 204.5 2

 3 Treasury bills 760.7 777.4 715.4 691.0 737.1 646.9 811.2 888.7 928.8 1001.2 3

 4 Other Treasury securities 2662.8 2790.7 2876.4 2846.1 2729.2 2526.2 2351.1 2526.1 2875.6 3165.1 4

 5 Total assets 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 5

 6 Household sector 836.7 888.5 797.1 732.1 809.5 578.3 433.9 269.9 416.9 472.7 6

 7 U.S. savings securities (1) 185.0 187.0 186.5 186.6 186.4 184.8 190.4 194.9 203.9 204.5 7

 8 Bills and other Treasury securities 651.7 701.5 610.6 545.5 623.1 393.5 243.5 74.9 213.0 268.3 8

 9 Nonfinancial corporate business 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 33.7 34.0 9

 10 Nonfinancial noncorporate business 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 10

 11 State and local governments 289.8 257.0 239.3 280.8 304.5 310.0 328.4 354.7 361.7 405.0 11

 12 Rest of the world 816.9 1040.3 1153.2 1166.2 1058.4 1021.4 1095.2 1285.5 1513.5 1813.6 12

 13 Treasury bills 197.4 236.9 193.2 183.5 185.7 177.8 218.2 268.9 290.9 323.7 13

 14 Other Treasury securities 619.6 803.5 960.0 982.8 872.7 843.6 877.0 1016.6 1222.6 1489.9 14

 15 Monetary authority 378.2 390.9 430.7 452.1 478.0 511.7 551.7 629.4 666.7 717.8 15

 16 Treasury bills 183.1 190.6 197.1 194.8 176.5 178.7 182.1 226.7 244.8 263.0 16

 17 Other Treasury securities 195.1 200.3 233.6 257.4 301.4 333.0 369.6 402.7 421.8 454.8 17

 18 U.S.-chartered depository institutions 226.0 190.3 181.4 135.0 133.0 96.6 67.8 95.6 105.7 82.6 18

 19 Foreign banking offices in U.S. 62.3 80.7 95.1 84.8 94.5 94.0 103.8 116.7 33.4 27.7 19

 20 Banks in U.S.-affiliated areas 5.4 4.1 4.2 3.6 2.8 1.8 1.2 1.5 2.5 3.8 20

 21 Credit unions 18.3 17.4 15.6 13.1 9.6 8.2 7.4 7.5 8.8 8.9 21

 22 Property-casualty insurance companies 139.1 126.2 96.4 76.8 64.9 57.8 57.5 72.0 86.2 106.6 22

 23 Treasury bills 5.6 5.3 5.3 6.4 4.2 5.7 5.4 10.7 21.6 35.3 23

 24 Other Treasury securities 133.4 120.9 91.1 70.4 60.6 52.1 52.0 61.2 64.7 71.3 24

 25 Life insurance companies 108.1 93.2 85.5 71.3 62.8 58.1 58.0 89.3 80.2 81.9 25

 26 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 4.3 10.9 8.4 3.4 26

 27 Other Treasury securities 108.1 93.2 85.5 71.3 62.8 58.1 53.7 78.5 71.8 78.5 27

 28 Private pension funds 120.5 115.4 117.4 104.0 120.8 111.2 104.3 101.1 114.9 110.5 28

 29 State and local govt. retirement funds 208.5 213.4 219.9 213.8 200.0 179.7 156.7 163.0 151.8 153.4 29

 30 Federal government retirement funds 13.5 24.8 26.6 29.0 31.7 33.6 40.7 50.5 55.7 60.4 30

 31 Money market mutual funds 70.0 90.2 86.2 107.9 103.8 91.9 139.2 142.5 131.9 102.8 31

 32 Treasury bills 42.3 42.2 41.0 47.1 58.6 54.7 93.5 109.8 99.0 83.2 32

 33 Other Treasury securities 27.7 48.0 45.2 60.7 45.2 37.2 45.7 32.8 33.0 19.6 33

 34 Mutual funds 143.8 125.8 136.4 141.0 117.3 127.4 115.5 126.5 136.4 148.9 34

 35 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Other Treasury securities 143.8 125.8 136.4 141.0 117.3 127.4 115.5 126.5 136.4 148.9 36

 37 Closed-end funds 11.1 11.2 9.8 8.8 7.6 6.7 6.7 3.9 4.6 6.8 37

 38 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.1 4.9 38

 39 Government-sponsored enterprises 58.0 18.8 25.9 25.2 30.9 13.3 13.6 25.7 13.5 12.9 39

 40 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.1 0.5 0.9 2.8 8.0 40

 41 Brokers and dealers 18.3 -12.8 -5.3 15.8 -42.6 -3.3 9.8 -3.9 37.8 -44.6 41

 42 Holding companies 3.4 4.0 4.0 0.9 8.8 0.8 1.2 1.3 2.7 2.0 42

 Memo:

 43 Federal government debt (2) 3636.7 3781.7 3804.8 3752.2 3681.0 3385.1 3379.5 3637.0 4033.1 4395.0 43

(1) Includes U.S. savings bonds, U.S. individual retirement bonds, U.S. retirement plan bonds, U.S. savings stamps, and matured U.S. savings securities.

(2) Total Treasury securities (line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 11).
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Historical Annuals, 1995-2004, September 18, 2014 95

L.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5969.4 6084.5 1

 2 Budget agencies 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 2

 3 Government-sponsored enterprises 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 3

 4 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 4

 5 Total assets 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5969.4 6084.5 5

 6 Household sector 216.3 332.6 390.3 441.5 540.5 587.9 385.0 241.5 376.6 443.6 6

 7 Nonfinancial corporate business 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 7

 8 State and local governments 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 340.6 377.7 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 123.1 134.4 157.3 185.6 232.3 348.2 504.1 637.5 661.1 861.7 10

 11 Monetary authority 2.6 2.2 0.7 0.3 0.2 0.1 0.0 0.0 0.0 0.0 11

 12 U.S.-chartered depository institutions 586.0 592.8 652.4 722.6 755.4 766.9 861.7 997.5 1105.2 1132.5 12

 13 Foreign banking offices in U.S. 37.3 49.7 62.2 67.4 72.4 72.7 50.7 61.6 53.3 51.8 13

 14 Banks in U.S.-affiliated areas 4.0 4.3 6.3 10.2 13.5 17.8 20.3 24.2 28.9 33.6 14

 15 Credit unions 45.7 50.7 51.0 58.4 61.3 60.9 80.6 79.1 94.3 93.1 15

 16 Property-casualty insurance companies 48.2 51.0 70.8 69.7 75.5 84.1 94.2 113.2 115.4 112.1 16

 17 Life insurance companies 242.9 244.1 226.7 217.0 224.4 235.4 253.5 330.9 348.9 357.1 17

 18 Private pension funds 212.9 201.2 207.3 189.6 227.7 195.5 198.3 180.3 219.2 230.5 18

 19 State and local govt. retirement funds 63.4 69.3 87.9 107.8 133.0 181.9 187.4 196.9 241.9 239.1 19

 20 Federal government retirement funds 0.6 0.7 0.7 1.0 0.9 1.0 2.6 4.8 5.7 5.8 20

 21 Money market mutual funds 90.8 101.8 96.3 172.4 191.0 187.7 343.4 324.4 332.1 270.0 21

 22 Mutual funds 171.3 204.4 213.3 234.9 271.1 283.7 370.4 430.8 455.2 462.6 22

 23 Government-sponsored enterprises 190.8 256.6 324.2 482.7 655.6 810.9 1017.8 1149.5 1088.9 886.5 23

 24 ABS issuers 127.6 123.0 101.2 126.4 167.8 176.6 210.2 284.2 366.6 349.8 24

 25 REITs 9.0 12.2 21.2 13.1 11.4 12.0 20.3 31.8 28.9 44.7 25

 26 Brokers and dealers 54.0 55.2 50.4 50.9 66.0 63.7 77.8 91.8 83.7 107.3 26

 27 Holding companies 4.7 4.9 5.5 6.6 5.4 4.8 6.2 10.7 11.6 13.5 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown in table L.209, line 43.
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96 Historical Annuals, 1995-2004, September 18, 2014

L.211 Municipal Securities and Loans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 1

 2 State and local governments 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 2

 3 Short-term (1) 34.4 40.7 49.0 42.7 45.3 46.6 70.5 95.7 106.1 44.2 3

 4 Long-term 1002.6 980.7 1018.0 1090.9 1127.2 1142.4 1223.9 1342.6 1452.7 2393.9 4

 5 Nonprofit organizations (2) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 5

 6 Nonfinancial corporate business 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 6

 (industrial revenue bonds)

 7 Total assets 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 7

 8 Household sector 533.4 493.0 497.6 498.4 526.9 531.5 587.9 671.5 687.2 1522.9 8

 9 Nonfinancial corporate business 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 9

 10 Nonfinancial noncorporate business 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 10

 11 State and local governments 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.5 5.7 11

 12 Rest of the world 4.0 4.9 5.9 6.8 7.8 8.0 8.0 11.5 19.5 26.0 12

 13 U.S.-chartered depository institutions 94.7 95.8 98.3 106.9 113.2 116.6 124.5 127.0 138.8 147.8 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Banks in U.S.-affiliated areas 0.7 0.5 0.5 0.5 0.6 0.7 0.5 0.5 0.6 0.3 15

 16 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Property-casualty insurance companies 161.0 175.4 191.6 208.1 199.0 184.1 173.8 183.0 224.2 267.8 17

 18 Life insurance companies 11.9 13.4 16.7 18.4 20.1 19.1 18.7 19.9 26.1 30.1 18

 19 State and local govt. retirement funds 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 2.5 19

 20 Money market mutual funds 127.7 144.5 167.0 193.1 211.5 242.2 269.5 285.8 308.9 322.3 20

 21 Mutual funds 210.2 213.3 219.8 242.6 239.4 230.4 253.0 276.8 289.7 293.8 21

 22 Closed-end funds 58.2 59.1 59.4 60.7 69.7 67.7 74.7 86.0 89.2 89.1 22

 23 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Government-sponsored enterprises 7.8 12.1 12.7 19.2 22.7 29.2 35.4 39.4 44.4 44.6 24

 25 Brokers and dealers 12.7 10.8 13.2 13.1 11.9 11.3 19.0 21.0 24.9 32.0 25

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
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Historical Annuals, 1995-2004, September 18, 2014 97

L.212 Corporate and Foreign Bonds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 3077.3 3374.6 3680.6 4168.2 4480.0 4833.2 5473.5 6011.4 6742.5 7475.6 1

 2 Nonfinancial corporate business 1486.9 1574.6 1702.1 1909.5 2116.4 2267.4 2560.8 2643.1 2716.0 2703.9 2

 3 Rest of the world (1) 431.9 499.6 568.2 601.6 557.9 582.4 505.5 562.1 746.5 808.6 3

 4 Financial sectors 1158.5 1300.4 1410.3 1657.1 1805.7 1983.4 2407.1 2806.2 3279.9 3963.1 4

 5 U.S.-chartered depository institutions 46.3 53.6 64.5 74.7 78.5 92.6 98.3 97.5 104.0 116.9 5

 6 ABS issuers (net) (2) 565.1 634.3 662.2 794.6 809.5 857.7 1150.8 1421.2 1693.6 2136.9 6

 7 Finance companies 300.0 336.8 341.5 365.6 430.3 503.3 571.3 635.3 743.2 817.4 7

 8 REITs 15.5 16.8 31.6 53.4 61.7 64.6 69.2 83.3 107.1 183.8 8

 9 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 9

 10 Holding companies 117.9 118.0 131.0 148.1 164.8 186.8 215.5 238.1 279.5 328.2 10

 11 Funding corporations 84.4 113.6 144.2 178.2 235.5 237.5 259.7 290.1 305.5 317.7 11

 12 Total assets (3) 3077.3 3374.6 3680.6 4168.2 4480.0 4833.2 5473.5 6011.4 6742.5 7475.6 12

 13 Household sector 609.7 617.2 582.8 621.3 517.0 557.5 640.1 852.0 714.5 614.3 13

 14 State and local governments 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 108.0 119.9 14

 15 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world (4) 355.3 432.1 498.2 589.7 673.8 842.6 1019.2 1134.8 1345.2 1610.6 16

 17 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 174.3 231.3 362.2 17

 18 Other 355.3 432.1 498.2 589.7 673.8 842.6 1019.2 960.5 1113.9 1248.5 18

 19 U.S.-chartered depository institutions 148.0 133.3 142.6 203.0 264.2 311.4 350.3 345.0 378.5 425.1 19

 20 MBS and other ABS 54.1 47.0 40.5 59.9 71.6 79.6 97.8 89.9 121.2 175.6 20

 21 Other 93.9 86.4 102.1 143.1 192.6 231.8 252.5 255.1 257.3 249.5 21

 22 Foreign banking offices in U.S. 38.0 41.0 44.9 50.1 45.0 52.7 86.9 86.0 164.0 188.2 22

 23 Banks in U.S.-affiliated areas 0.4 0.3 0.4 1.0 0.5 0.8 1.4 1.1 1.4 1.3 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 24.3 25.0 24

 25 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 24.3 25.0 26

 27 Property-casualty insurance companies 123.3 141.6 159.5 171.1 181.1 187.5 196.4 198.9 218.9 245.3 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other 123.3 141.6 159.5 171.1 181.1 187.5 196.4 198.9 218.9 245.3 29

 30 Life insurance companies 867.0 946.2 1041.7 1124.4 1166.9 1214.8 1334.3 1440.0 1610.5 1756.3 30

 31 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other 867.0 946.2 1041.7 1124.4 1166.9 1214.8 1334.3 1440.0 1610.5 1756.3 32

 33 Private pension funds 240.7 243.6 277.4 297.6 340.7 264.0 241.2 252.8 274.1 266.5 33

 34 State and local govt. retirement funds 189.7 212.3 246.1 281.6 312.0 316.7 281.8 219.3 209.4 250.9 34

 35 Federal government retirement funds 0.5 0.5 0.6 0.7 0.7 0.7 1.6 2.9 3.7 4.0 35

 36 Money market mutual funds 21.5 23.9 36.4 82.2 124.8 176.4 200.2 207.4 247.3 246.2 36

 37 Mutual funds 185.5 218.5 259.4 322.0 348.2 337.7 402.9 453.5 531.3 594.2 37

 38 Closed-end funds 25.2 27.1 27.1 31.8 33.5 30.9 27.1 27.1 58.8 67.3 38

 39 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 2.4 3.3 39

 40 Government-sponsored enterprises 29.9 38.1 44.1 68.7 97.5 131.1 155.7 189.3 222.8 414.8 40

 41 MBS and other ABS 29.9 38.1 43.9 68.5 97.2 124.1 144.8 182.4 220.5 339.5 41

 42 Other 0.0 0.0 0.2 0.3 0.3 7.0 11.0 6.8 2.3 75.3 42

 43 Finance companies 95.3 110.8 120.5 127.6 154.6 173.4 192.4 210.5 263.8 256.0 43

 44 REITs 2.9 4.3 6.5 6.1 9.2 9.4 9.8 10.4 18.9 36.0 44

 45 Brokers and dealers 73.8 86.9 92.6 74.7 86.6 103.8 151.0 183.1 219.3 238.0 45

 46 Holding companies 7.7 10.5 15.5 14.8 15.9 13.2 15.3 12.9 14.2 15.5 46

 47 Funding corporations 23.8 36.5 33.1 37.6 33.8 24.9 70.8 56.4 111.3 96.8 47

(1) Holdings of foreign issues by U.S. residents.

(2) Liabilities net of assets.

(3) For some sectors, holdings of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately issued asset-backed bonds.

(4) Holdings of U.S. issues by foreign residents.
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98 Historical Annuals, 1995-2004, September 18, 2014

L.213 Corporate Equities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Issues at market value 8481.3 9748.1 12621.8 15354.0 19401.0 17575.0 15628.6 12438.3 16638.5 18940.1 1

 2 Nonfinancial corporate business 6406.8 6804.3 8674.5 10962.3 14476.8 12444.5 10868.6 8212.3 10845.2 12088.6 2

 3 Rest of the world (2) 790.6 1006.1 1207.8 1475.0 2003.7 1852.8 1612.7 1374.0 2079.4 2560.4 3

 4 Financial corporations 1284.0 1937.7 2739.5 2916.8 2920.4 3277.7 3147.3 2852.0 3713.9 4291.1 4

 5 Holdings at market value 8481.3 9748.1 12621.8 15354.0 19401.0 17575.0 15628.6 12438.3 16638.5 18940.1 5

 6 Household sector 4434.2 4712.2 6114.0 7468.4 9719.5 8096.6 6787.9 5123.3 6713.6 7406.1 6

 7 State and local governments 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 93.4 107.6 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Rest of the world (3) 484.6 584.3 837.3 1107.9 1434.0 1483.0 1441.0 1229.1 1697.6 1952.7 9

 10 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 U.S.-chartered depository institutions 19.3 24.5 25.9 35.7 42.0 43.3 40.3 30.6 49.0 57.5 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Property-casualty insurance companies 133.5 147.5 184.3 197.9 205.2 191.4 171.0 149.5 177.9 195.5 13

 14 Life insurance companies 309.6 406.9 539.8 683.2 909.0 892.0 811.3 708.9 919.3 1053.9 14

 15 Private pension funds 1217.6 1357.1 1544.8 1798.2 1881.4 1892.1 1843.1 1537.9 2027.9 2261.2 15

 16 State and local govt. retirement funds 742.7 892.6 1140.3 1297.5 1536.1 1420.6 1363.9 1139.9 1529.8 1684.3 16

 17 Federal government retirement funds 11.5 18.8 29.9 43.0 56.9 56.6 49.1 45.7 79.2 97.7 17

 18 Mutual funds 1024.9 1470.0 2018.7 2506.2 3376.7 3226.9 2834.0 2187.4 3051.3 3693.6 18

 19 Closed-end funds 41.9 47.0 49.6 47.6 41.2 36.5 31.0 33.6 52.7 81.8 19

 20 Exchange-traded funds 1.1 2.4 6.7 15.6 33.9 65.6 83.0 98.2 146.3 219.0 20

 21 Brokers and dealers 34.2 37.9 51.9 54.4 66.9 77.2 85.1 74.9 100.5 129.1 21

 22 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

(1) Excludes mutual fund shares shown on table L.214.

(2) Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Holdings of U.S. issues by foreign residents.

L.214 Mutual Fund Shares (1)

Billions of dollars

 1 Shares at market value 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 1

 2 Holdings at market value 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 2

 3 Household sector 1253.0 1561.9 1874.2 2255.6 2767.2 2589.0 2501.6 2124.6 2794.1 3291.8 3

 4 Nonfinancial corporate business 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 4

 5 State and local governments 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 29.4 35.8 5

 6 Rest of the world 59.9 82.3 109.0 135.1 169.5 149.0 116.6 90.5 123.1 147.7 6

 7 U.S.-chartered depository institutions 2.3 2.6 8.1 9.1 12.4 15.0 21.3 19.6 17.1 18.1 7

 8 Credit unions 2.8 2.6 2.4 3.6 2.5 2.2 3.7 3.5 4.1 3.1 8

 9 Property-casualty insurance companies 0.7 1.0 1.7 2.2 2.7 2.9 3.0 2.8 4.7 6.3 9

 10 Life insurance companies 33.5 42.5 57.2 73.2 98.8 97.0 88.3 76.6 91.7 114.4 10

 11 Private pension funds 357.0 472.7 687.8 825.1 1103.3 1174.7 1004.6 968.9 1176.5 1335.8 11

 12 State and local govt. retirement funds 62.9 73.2 140.8 177.3 221.3 254.4 259.0 236.4 297.2 354.4 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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Historical Annuals, 1995-2004, September 18, 2014 99

L.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1006.6 1088.5 1225.4 1361.5 1448.3 1561.7 1480.7 1388.2 1368.0 1419.2 1

 2 Household sector 50.8 40.7 50.5 42.9 19.3 14.9 -1.2 -25.2 3.2 -16.8 2

 3 Corporate business 631.5 662.3 716.9 797.5 846.1 901.3 796.8 693.4 614.1 618.0 3

 4 Noncorporate business 200.6 229.8 276.6 302.1 351.7 402.1 445.6 469.3 479.7 512.6 4

 5 Rest of the world 79.6 89.7 105.9 111.3 105.7 114.5 99.4 92.7 92.2 93.1 5

 6 Foreign official institutions 4.7 5.2 4.4 5.9 6.0 6.2 6.6 6.9 5.9 6.9 6

 7 Foreign banks 11.2 14.5 14.0 13.3 9.9 13.2 20.0 11.3 16.9 20.3 7

 8 Other foreign 63.7 70.0 87.5 92.2 89.8 95.0 72.7 74.4 69.4 65.9 8

 9 Financial sectors 44.1 66.0 75.6 107.6 125.5 128.8 140.1 158.0 178.9 212.2 9

 10 Finance companies 31.8 40.3 40.3 46.3 60.1 63.8 84.3 101.1 106.9 136.9 10

 11 REITs 5.0 7.8 17.6 33.6 24.2 19.4 16.4 18.1 17.8 24.9 11

 12 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Holding companies 7.3 18.0 17.7 27.7 41.1 45.6 39.4 38.7 54.2 50.4 13

 14 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Total assets 1006.6 1088.5 1225.4 1361.5 1448.3 1561.7 1480.7 1388.2 1368.0 1419.2 15

 16 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 U.S.-chartered depository institutions 705.5 765.8 877.3 1017.5 1133.2 1229.3 1167.1 1104.8 1092.1 1131.7 17

 18 Foreign banking offices in U.S. 272.5 305.3 329.6 324.1 294.3 309.5 285.5 257.7 247.6 252.5 18

 19 Banks in U.S.-affiliated areas 13.1 14.6 15.5 16.3 16.9 18.0 22.5 18.2 18.5 20.3 19

 20 Credit unions 15.5 2.9 3.1 3.5 3.9 4.9 5.6 7.5 9.7 14.6 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table L.108.
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100 Historical Annuals, 1995-2004, September 18, 2014

L.216 Other Loans and Advances

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total other loans and advances 888.0 944.7 1038.7 1188.7 1318.0 1446.2 1467.4 1507.1 1541.7 1665.1 1

 2 U.S. government loans 130.0 132.7 138.8 136.5 129.6 126.9 119.1 118.6 116.9 113.9 2

 3 Liab.: Household sector 10.7 20.0 17.6 17.3 17.1 15.9 14.7 13.8 13.1 12.2 3

 4 Nonfinancial corporate business 9.1 8.4 8.8 8.5 8.2 8.3 7.0 8.0 8.8 9.1 4

 5 Nonfinancial noncorporate business 45.1 44.6 49.0 48.1 48.0 46.6 42.4 43.1 43.1 44.1 5

 6 State and local governments 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 6

 7 Rest of the world 82.8 84.0 84.1 84.9 81.7 82.6 83.1 82.7 82.1 80.4 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Foreign loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 11

 12 Liab.: Nonfinancial corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 12.3 13.9 13.7 9.1 6.6 5.9 3.6 3.9 3.8 3.3 13

 14 Foreign banking offices in U.S. 10.1 9.4 6.9 2.2 1.6 1.6 1.0 0.6 0.6 0.7 14

 15 Liab.: Nonfinancial corporate business 14.2 13.4 10.8 6.6 4.4 4.3 4.1 4.4 4.2 3.8 15

 16 Rest of the world 8.2 9.9 9.7 4.7 3.9 3.1 0.5 0.2 0.2 0.3 16

 17 Holding company loans 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 17

 18 Liab.: Nonfinancial corporate business 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Policy loans (Household liability) 96.9 101.4 104.6 104.7 100.0 102.8 105.0 106.0 105.2 106.8 20

 21 Asset: Federal government 0.9 1.0 1.0 0.9 0.9 0.9 0.9 0.8 0.8 0.7 21

 22 Life insurance companies 95.9 100.5 103.7 103.8 99.0 101.9 104.1 105.1 104.5 106.1 22

 23 Government-sponsored enterprise loans (1) 166.0 195.3 230.7 324.2 432.3 477.6 505.9 514.7 545.8 619.4 23

 24 Liab.: Household sector (SLMA) 0.8 0.9 0.7 0.6 0.7 0.4 0.4 0.4 0.3 0.0 24

 25 Nonfinancial corporate business (FCS) 1.3 1.5 1.6 2.0 2.1 2.5 3.1 3.6 4.0 4.5 25

 26 Nonfinancial noncorporate business (FCS) 28.8 30.0 30.0 32.9 33.7 36.4 38.7 40.2 39.8 39.1 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 134.1 160.9 196.1 285.1 389.2 432.4 455.7 458.4 484.6 553.4 27

 28 Credit unions (FHLB) 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 28

 29 Life insurance companies (FHLB) 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 29

 30 Securitized loans held by ABS issuers 29.6 37.7 62.1 85.9 82.6 89.8 105.6 112.4 111.4 111.4 30

 31 Liab.: Nonfinancial corporate business 29.6 37.7 62.1 85.9 82.6 89.8 105.6 112.4 111.4 111.4 31

 32 Finance company loans to business 301.6 304.7 304.1 340.9 395.1 456.2 440.2 444.0 441.7 451.5 32

 33 Liab.: Nonfinancial corporate business 271.4 274.2 273.7 306.8 355.6 410.6 396.2 399.6 397.6 406.4 33

 34 Nonfinancial noncorporate business 30.2 30.5 30.4 34.1 39.5 45.6 44.0 44.4 44.2 45.2 34

 35 Loans to nonfinancial corporate business (2) 17.2 21.0 32.2 38.7 48.1 66.4 69.5 78.2 83.4 121.5 35

 36 Asset: Household sector 0.1 0.1 0.2 0.2 0.6 1.9 2.6 2.8 3.1 5.9 36

 37 Life insurance companies 3.1 3.1 4.2 6.1 6.4 7.4 8.1 9.2 9.8 11.7 37

 38 Mutual funds 10.2 11.0 14.4 17.1 19.9 24.3 17.0 17.5 16.4 26.0 38

 39 ABS issuers 0.4 0.6 2.5 4.4 7.5 14.4 22.2 31.6 37.8 56.7 39

 40 Brokers and dealers 2.6 3.9 7.4 6.7 6.8 8.9 10.3 8.9 9.0 14.2 40

 41 Funding corporations 0.9 2.4 3.4 4.4 6.8 9.5 9.4 8.2 7.3 7.0 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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Historical Annuals, 1995-2004, September 18, 2014 101

L.217 Total Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total mortgages 4525.0 4805.9 5119.4 5604.0 6210.7 6768.8 7477.8 8380.1 9391.2 10666.5 1

 2 Home 3445.7 3681.9 3916.5 4273.1 4698.3 5122.1 5675.1 6431.4 7255.3 8292.3 2

 3 Multifamily residential 273.9 286.1 298.0 332.3 372.9 402.2 444.4 483.4 555.9 606.1 3

 4 Commercial 733.8 763.4 826.4 915.6 1052.4 1159.9 1269.7 1369.9 1496.7 1672.4 4

 5 Farm 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 5

 6 Total liabilities 4525.0 4805.9 5119.4 5604.0 6210.7 6768.8 7477.8 8380.1 9391.2 10666.5 6

 7 Household sector 3420.8 3643.0 3862.0 4173.3 4552.8 4946.7 5463.7 6182.0 7070.0 8024.5 7

 8 Nonfinancial business 1080.2 1130.9 1210.6 1359.1 1579.1 1738.6 1928.4 2101.1 2215.3 2510.7 8

 9 Corporate 210.2 220.8 249.5 250.3 332.2 357.1 423.3 470.5 520.6 595.3 9

 10 Noncorporate 869.9 910.1 961.1 1108.8 1246.9 1381.5 1505.0 1630.6 1694.7 1915.3 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 12

 13 Total assets 4525.0 4805.9 5119.4 5604.0 6210.7 6768.8 7477.8 8380.1 9391.2 10666.5 13

 14 Household sector 113.6 106.1 99.0 94.7 102.0 104.0 109.2 117.2 122.2 132.6 14

 15 Nonfinancial corporate business 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 15

 16 Nonfinancial noncorporate business 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 16

 17 State and local governments 113.8 117.6 121.3 127.4 131.8 130.5 129.7 124.4 129.3 144.3 17

 18 Federal government 57.5 50.3 45.7 44.9 77.7 75.7 74.5 75.1 72.6 74.2 18

 19 U.S.-chartered depository institutions 1642.1 1731.2 1840.2 1948.3 2133.5 2350.0 2510.8 2799.5 3083.9 3604.7 19

 20 Foreign banking offices in U.S. 35.1 32.2 26.1 20.4 15.9 17.1 17.9 19.0 17.5 16.9 20

 21 Banks in U.S.-affiliated areas 9.7 10.3 10.8 12.3 14.1 15.9 19.2 20.8 25.0 31.4 21

 22 Credit unions 51.0 73.1 83.0 93.3 107.1 119.9 135.7 152.0 172.9 198.6 22

 23 Property-casualty insurance companies 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 23

 24 Life insurance companies 213.1 208.2 206.8 213.6 230.8 235.9 243.0 250.0 260.9 273.3 24

 25 Private pension funds 8.6 9.3 10.1 9.9 11.7 11.9 9.8 10.3 10.2 10.0 25

 26 State and local govt. retirement funds 15.9 16.7 17.6 22.4 25.7 22.1 21.0 21.1 20.4 15.0 26

 27 Government-sponsored enterprises (1) 250.4 244.1 239.4 247.0 242.0 264.3 297.5 357.3 621.5 629.0 27

 28 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 28

 29 ABS issuers 241.3 277.4 340.2 468.2 538.7 604.2 726.4 838.6 1012.3 1458.1 29

 30 Finance companies 105.5 126.7 128.6 160.9 195.3 237.9 258.2 330.5 370.2 476.0 30

 31 REITs 14.1 13.8 22.9 26.3 23.5 17.5 17.9 28.1 48.8 118.4 31
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102 Historical Annuals, 1995-2004, September 18, 2014

L.218 Home Mortgages (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 3445.7 3681.9 3916.5 4273.1 4698.3 5122.1 5675.1 6431.4 7255.3 8292.3 1

 2 Household sector 3319.2 3537.3 3753.2 4054.7 4431.6 4813.9 5322.0 6028.2 6909.9 7859.4 2

 3 Nonfinancial corporate business 7.2 8.3 8.6 10.0 12.1 14.1 16.2 16.9 18.8 23.5 3

 4 Nonfinancial noncorporate business 119.3 136.3 154.7 208.4 254.6 294.1 336.9 386.4 326.7 409.4 4

 5 Total assets 3445.7 3681.9 3916.5 4273.1 4698.3 5122.1 5675.1 6431.4 7255.3 8292.3 5

 6 Household sector 95.9 87.0 78.1 73.1 80.2 87.3 94.2 100.3 106.3 112.9 6

 7 Nonfinancial corporate business 33.8 24.5 29.8 27.1 20.2 21.4 23.0 24.9 26.1 39.9 7

 8 Nonfinancial noncorporate business 8.2 7.6 7.0 9.7 8.9 8.7 9.9 9.6 9.7 11.3 8

 9 State and local governments 60.5 62.8 65.8 65.0 67.2 66.6 66.2 63.4 66.6 74.3 9

 10 Federal government 24.2 21.2 19.1 18.8 18.4 16.5 15.9 15.0 14.1 13.6 10

 11 U.S.-chartered depository institutions 1127.1 1189.0 1263.9 1327.3 1424.5 1555.6 1641.0 1849.1 2051.0 2440.8 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Banks in U.S.-affiliated areas 5.7 6.3 6.4 7.5 8.1 9.1 8.2 9.7 12.2 15.6 13

 14 Credit unions 51.0 73.1 83.0 93.3 107.1 119.9 135.7 152.0 172.9 198.6 14

 15 Life insurance companies 10.3 8.5 8.7 8.2 8.3 7.5 7.8 6.7 8.4 8.1 15

 16 Private pension funds 4.4 5.0 5.7 5.8 6.6 7.7 4.6 2.8 1.7 1.4 16

 17 State and local govt. retirement funds 4.4 5.0 5.6 7.2 8.2 7.1 6.9 7.6 7.3 5.4 17

 18 Government-sponsored enterprises 209.5 202.9 198.2 203.9 193.5 209.6 231.2 276.8 519.1 508.6 18

 19 Agency- and GSE-backed mortgage pools 1543.4 1678.8 1788.1 1970.2 2234.7 2425.6 2748.5 3063.7 3233.5 3277.3 19

 20 ABS issuers 193.8 215.4 253.8 321.9 353.7 384.8 463.9 545.6 669.0 1059.2 20

 21 Finance companies 66.5 87.0 89.3 119.4 147.4 186.9 209.7 285.6 320.2 422.0 21

 22 REITs 6.9 8.0 14.0 14.8 11.3 7.8 8.6 18.7 37.2 103.1 22

 Memo:

 23 Home equity loans included above (2) 237.5 262.6 297.0 309.9 334.3 407.9 438.9 500.7 593.4 775.9 23

 24 U.S.-chartered depository institutions 190.5 206.1 229.4 232.8 249.2 307.8 336.5 381.8 461.6 604.8 24

 25 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Credit unions 22.9 25.5 29.0 29.7 33.4 40.7 44.9 48.0 51.7 63.9 26

 27 ABS issuers 2.7 3.5 4.8 6.9 8.4 10.5 12.4 15.0 16.2 23.6 27

 28 Finance companies 21.4 27.5 33.8 40.5 43.3 49.0 45.0 56.0 64.0 83.7 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 273.9 286.1 298.0 332.3 372.9 402.2 444.4 483.4 555.9 606.1 1

 2 Nonfinancial corporate business 13.3 13.8 14.1 15.4 17.9 19.2 21.3 23.1 26.7 29.1 2

 3 Nonfinancial noncorporate business 252.6 261.8 268.4 293.2 340.4 365.4 404.0 439.4 507.9 552.1 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 7.9 10.5 15.4 23.6 14.6 17.6 19.1 20.8 21.3 24.9 5

 6 Total assets 273.9 286.1 298.0 332.3 372.9 402.2 444.4 483.4 555.9 606.1 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 0.1 0.8 1.4 1.1 0.9 0.8 0.9 0.9 1.0 1.0 8

 9 Nonfinancial noncorporate business 7.2 6.8 6.2 8.9 8.0 7.8 9.0 8.8 8.8 10.4 9

 10 State and local governments 44.1 45.9 46.5 50.9 52.7 52.2 51.9 49.7 51.7 57.7 10

 11 Federal government 17.7 14.8 13.9 13.6 13.6 13.9 13.7 14.3 14.5 15.0 11

 12 U.S.-chartered depository institutions 104.5 107.0 109.2 111.7 127.0 139.1 149.4 162.8 182.4 206.3 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies 28.7 30.8 30.4 31.8 32.8 33.7 35.6 36.8 38.6 40.5 14

 15 Private pension funds 1.0 1.0 1.0 0.9 1.1 1.1 1.4 1.9 2.2 2.2 15

 16 State and local govt. retirement funds 4.5 4.7 5.0 6.3 7.2 6.2 6.0 6.3 6.1 4.5 16

 17 Government-sponsored enterprises 18.5 17.7 16.2 16.2 20.5 25.0 33.2 41.7 68.2 82.5 17

 18 Agency- and GSE-backed mortgage pools 26.9 32.5 37.8 48.3 57.5 66.0 81.6 94.5 108.7 105.7 18

 19 ABS issuers 11.9 15.7 20.3 33.1 41.6 47.0 53.1 58.6 66.5 73.2 19

 20 Finance companies 7.2 7.2 8.0 7.5 7.6 7.6 7.1 5.7 5.7 5.6 20

 21 REITs 1.6 1.2 2.1 2.1 2.3 1.7 1.4 1.3 1.5 1.6 21
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Historical Annuals, 1995-2004, September 18, 2014 103

L.220 Commercial Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 733.8 763.4 826.4 915.6 1052.4 1159.9 1269.7 1369.9 1496.7 1672.4 1

 2 Household sector 101.6 105.7 108.8 118.7 121.2 132.8 141.7 153.8 160.1 165.0 2

 3 Nonfinancial corporate business 182.9 191.2 218.5 215.5 291.8 312.9 373.6 415.9 461.3 525.8 3

 4 Nonfinancial noncorporate business 433.1 445.1 467.7 533.4 575.1 648.2 687.9 724.0 790.8 875.1 4

 5 REITs 16.1 21.4 31.4 48.0 64.3 65.9 66.6 76.1 84.5 106.5 5

 6 Total assets 733.8 763.4 826.4 915.6 1052.4 1159.9 1269.7 1369.9 1496.7 1672.4 6

 7 Household sector 5.3 6.0 6.6 7.4 8.3 10.0 9.3 10.6 11.6 12.9 7

 8 Nonfinancial corporate business 24.0 29.1 49.1 39.1 20.1 21.2 22.7 23.7 24.7 25.6 8

 9 Nonfinancial noncorporate business 5.9 5.6 5.1 7.2 6.7 6.5 7.4 7.2 7.3 8.5 9

 10 State and local governments 7.7 7.5 7.7 10.2 10.5 10.4 10.4 10.0 10.3 11.5 10

 11 Federal government 9.4 8.5 7.8 7.9 41.5 41.1 41.0 42.1 40.5 42.4 11

 12 U.S.-chartered depository institutions 390.3 414.0 443.9 484.1 554.5 625.6 689.3 754.5 821.5 923.0 12

 13 Foreign banking offices in U.S. 35.1 32.2 26.1 20.4 15.9 17.1 17.9 19.0 17.5 16.9 13

 14 Banks in U.S.-affiliated areas 4.0 3.9 4.4 4.8 6.0 6.8 11.0 11.2 12.8 15.9 14

 15 Property-casualty insurance companies 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 15

 16 Life insurance companies 165.9 160.3 158.8 163.8 179.0 183.8 188.4 195.0 203.9 214.1 16

 17 Private pension funds 3.2 3.3 3.4 3.2 4.0 3.1 3.7 5.7 6.4 6.4 17

 18 State and local govt. retirement funds 7.0 7.0 7.0 9.0 10.3 8.8 8.1 7.2 6.9 5.1 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers 35.6 46.4 66.1 113.2 143.4 172.3 209.4 234.4 276.8 325.7 20

 21 Finance companies 31.8 32.6 31.3 34.0 40.3 43.4 41.4 39.2 44.2 48.4 21

 22 REITs 5.6 4.6 6.9 9.4 10.0 8.0 7.9 8.1 10.1 13.6 22

L.221 Farm Mortgages (1)

Billions of dollars

 1 Total liabilities 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 1

 2 Nonfinancial corporate business 6.8 7.5 8.3 9.4 10.4 10.9 12.3 14.6 13.8 17.0 2

 3 Nonfinancial noncorporate business 64.9 66.9 70.2 73.7 76.8 73.9 76.2 80.8 69.4 78.7 3

 4 Total assets 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 4

 5 Household sector 12.3 13.2 14.4 14.1 13.5 6.6 5.8 6.3 4.3 6.8 5

 6 Nonfinancial noncorporate business 0.4 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.6 6

 7 State and local governments 1.4 1.4 1.4 1.3 1.3 1.3 1.3 1.2 0.6 0.7 7

 8 Federal government 6.2 5.8 4.9 4.5 4.3 4.1 4.0 3.7 3.4 3.2 8

 9 U.S.-chartered depository institutions 20.2 21.2 23.2 25.2 27.6 29.8 31.1 33.1 29.0 34.6 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 8.2 8.6 8.9 9.9 10.6 11.1 11.2 11.4 10.0 10.7 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 22.5 23.5 25.0 27.0 28.1 29.7 33.1 38.8 34.2 38.0 13

 14 Agency- and GSE-backed mortgage pools 0.4 0.4 0.4 0.5 1.3 1.6 1.7 0.4 1.0 0.9 14

(1) Excludes mortgages on farm houses.
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104 Historical Annuals, 1995-2004, September 18, 2014

L.222 Consumer Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities (Households) 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 1

 2 Total assets 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 2

 3 Households (nonprofit organizations) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 6

 7 U.S.-chartered depository institutions 542.4 572.2 562.2 564.4 569.5 615.8 639.5 671.3 747.3 795.6 7

 8 Credit unions 131.9 144.1 152.4 155.4 167.9 184.4 189.6 195.7 205.9 215.4 8

 9 Government-sponsored enterprises 34.3 33.8 29.5 28.4 33.8 37.0 39.4 36.8 20.6 0.0 9

 10 ABS issuers 213.1 273.5 320.5 393.9 456.7 528.4 597.8 630.4 594.8 571.5 10

 11 Finance companies 152.1 154.9 167.5 183.3 201.6 234.4 280.0 307.5 393.0 492.3 11

 Memo:

 12 Credit card loans (3) 464.9 524.4 555.5 597.7 627.5 702.2 735.1 772.1 790.4 824.4 12

 13 Auto loans 367.1 397.7 423.2 461.6 511.0 581.2 674.2 708.8 759.5 797.9 13

 14 Student loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other consumer credit (5) 336.1 351.8 365.4 382.0 415.1 457.8 482.5 516.1 553.1 597.8 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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Historical Annuals, 1995-2004, September 18, 2014 105

L.223 Trade Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total trade payables 1422.3 1538.5 1664.3 1773.3 2036.2 2430.6 2348.6 2438.9 2457.3 2647.5 1

 2 Household sector 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 2

 3 Nonfinancial corporate business 878.6 928.3 993.6 1051.2 1229.8 1542.4 1438.8 1458.6 1403.9 1501.5 3

 4 Nonfinancial noncorporate business 96.7 128.5 160.4 190.8 225.2 266.7 262.0 287.4 261.2 284.9 4

 5 State and local governments 229.6 247.8 267.4 288.2 311.0 336.0 363.0 391.3 420.1 450.1 5

 6 Federal government 80.9 82.0 73.8 66.2 72.0 77.7 80.9 81.9 153.6 169.0 6

 7 Rest of the world 25.1 28.4 31.2 31.2 36.4 37.1 31.8 30.4 33.6 32.7 7

 8 Brokers and dealers 10.3 14.3 19.9 18.9 30.9 35.9 39.2 37.4 28.2 36.0 8

 9 Total trade receivables 1579.7 1718.4 1869.1 1992.3 2234.9 2613.1 2514.8 2436.3 2425.5 2609.5 9

 10 Nonfinancial corporate business 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.5 1701.8 1830.6 10

 11 Nonfinancial noncorporate business 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 11

 12 State and local governments 77.3 82.9 89.2 96.3 104.9 109.9 115.9 118.4 116.6 125.0 12

 13 Federal government 23.1 24.0 20.8 22.3 22.9 28.1 35.5 32.2 51.3 61.8 13

 14 Rest of the world 45.8 51.3 52.2 45.7 46.2 45.8 42.7 45.0 46.5 45.4 14

 15 Property-casualty insurance companies 57.3 57.2 59.9 61.5 63.6 64.6 69.9 74.8 79.3 79.6 15

 16 ABS issuers 50.9 60.1 81.0 85.0 67.2 83.3 89.1 83.5 92.3 102.6 16

 17 Discrepancy -157.4 -179.9 -204.8 -219.0 -198.7 -182.5 -166.3 2.6 31.8 38.0 17

L.224 Security Credit

Billions of dollars

 1 Total liabilities 251.8 315.1 384.9 476.2 611.0 729.0 726.8 612.3 732.1 929.4 1

 2 Household sector 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 2

 3 Brokers and dealers 173.2 220.7 253.7 323.4 383.1 493.9 530.4 464.1 549.6 665.4 3

 4 Total assets 251.8 315.1 384.9 476.2 611.0 729.0 726.8 612.3 732.1 929.4 4

 5 Household sector 145.4 189.9 219.8 292.3 349.7 460.7 502.1 441.9 521.1 635.2 5

 6 U.S.-chartered depository institutions 18.7 19.0 19.7 18.4 20.6 18.1 17.1 13.0 22.0 23.0 6

 7 Foreign banking offices in U.S. 9.1 11.7 14.2 12.7 12.8 15.0 11.2 9.3 6.6 7.2 7

 8 Brokers and dealers 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 8
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106 Historical Annuals, 1995-2004, September 18, 2014

L.225 Life Insurance Reserves

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 1

 2 Federal government 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 2

 3 Life insurance companies 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 3

 4 Net change in assets 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 4

 5 Households 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

L.226 Pension Entitlements

Billions of dollars

 1 Total liabilities 6717.6 7242.2 8046.2 8878.6 9709.2 10017.3 10195.3 10340.4 11414.2 12567.1 1

 2 Life insurance companies (1) 890.6 974.0 1009.5 1155.0 1312.9 1373.1 1417.1 1482.8 1646.7 1850.5 2

 3 Private pension funds (2) 2802.0 3056.8 3487.5 3905.2 4286.8 4326.4 4223.4 4075.9 4615.5 5029.2 3

 4 State and local govt. retirement funds 1426.1 1536.0 1793.3 1977.3 2180.9 2315.0 2475.4 2618.6 2868.9 3298.5 4

 5 Federal government retirement funds (3) 1598.8 1675.4 1755.9 1841.1 1928.7 2002.9 2079.5 2163.1 2283.1 2388.9 5

 6 Total assets (Households) (4) 6717.6 7242.2 8046.2 8878.6 9709.2 10017.3 10195.3 10340.4 11414.2 12567.1 6

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs) (table L.226.i), except those at life insurance companies.

L.227 Taxes Payable by Businesses

Billions of dollars

 1 Total taxes payable by all businesses 94.8 110.8 117.1 130.3 150.5 179.4 191.2 200.6 198.8 219.2 1

 2 Nonfinancial corporate business 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 2

 3 Nonfinancial noncorporate business 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 3

 4 U.S.-chartered depository institutions -0.1 2.0 7.3 10.4 12.4 22.1 25.9 35.9 37.7 37.2 4

 5 Property-casualty insurance companies 3.3 3.9 4.4 3.3 3.4 3.4 3.7 -3.7 1.0 1.5 5

 6 Life insurance companies 12.0 12.5 -1.6 -0.1 0.5 0.1 -0.3 -7.7 -5.8 -2.7 6

 7 Finance companies 4.9 5.7 6.5 7.3 8.1 9.1 10.2 11.6 13.2 15.0 7

 8 Brokers and dealers 1.1 1.3 1.3 1.3 2.2 2.1 1.9 1.3 1.8 2.2 8

 9 Total business taxes receivable 55.0 130.3 132.7 131.3 139.5 153.1 156.8 165.0 168.8 179.2 9

 10 State and local governments 37.7 40.1 44.3 49.3 59.2 69.8 72.8 74.4 75.1 88.0 10

 11 Federal government 17.3 90.2 88.4 82.0 80.3 83.3 84.0 90.7 93.7 91.2 11

 12 Discrepancy 39.8 -19.4 -15.6 -1.0 11.0 26.3 34.4 35.6 30.0 40.0 12

L.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household equity 3526.0 3646.2 4031.3 4274.2 4510.9 4996.4 5195.0 5525.6 6115.1 7347.1 1

 2 Nonfinancial noncorporate business 3520.6 3639.7 4021.8 4264.6 4499.4 4984.8 5188.9 5520.6 6102.1 7335.9 2

 3 Brokers and dealers 5.4 6.5 9.5 9.6 11.5 11.7 6.2 5.0 13.0 11.2 3
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Historical Annuals, 1995-2004, September 18, 2014 107

L.229 Direct Investment

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 885.5 989.8 1068.1 1196.0 1414.4 1531.6 1693.1 1867.0 2054.5 2498.5 1

 2 Equity 827.4 922.0 994.3 1096.2 1253.5 1383.2 1537.1 1684.6 1873.8 2306.2 2

 3 Intercompany debt (2) 58.1 67.8 73.8 99.8 160.8 148.4 156.0 182.5 180.7 192.3 3

 4 U.S. parents’ claims 147.2 161.1 178.1 221.4 302.0 296.4 310.3 349.7 371.4 433.6 4

 5 Less: U.S. parents’ liabilities 89.0 93.3 104.3 121.6 141.1 148.0 154.3 167.3 190.7 241.4 5

 6 Asset: Nonfinancial corporate business 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 6

 7 U.S.-chartered depository institutions 37.9 42.8 44.2 31.2 36.0 44.5 50.6 51.0 57.5 93.5 7

 8 Property-casualty insurance companies 37.8 33.6 42.8 47.0 47.8 47.9 49.3 79.0 84.6 89.9 8

 9 Life insurance companies 5.6 6.6 8.6 11.1 9.4 10.4 8.6 12.2 14.4 16.6 9

 10 Finance companies 22.8 27.9 35.1 58.0 20.5 16.2 11.9 12.4 15.7 14.7 10

 11 Brokers and dealers 2.8 12.4 4.2 7.7 49.9 61.0 83.0 100.5 137.3 189.2 11

 Foreign direct investment in U.S.:

 12 Liab.: Nonfinancial corporate business 651.3 704.8 756.4 817.8 912.5 1180.0 1266.2 1252.5 1302.0 1409.8 12

 13 Nonfinancial noncorporate business 2.8 4.0 3.9 3.4 3.6 3.3 3.3 4.0 3.3 3.0 13

 14 Foreign banking offices in U.S. 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 14

 15 Property-casualty insurance companies 36.8 38.5 46.2 47.3 51.5 60.9 66.4 63.3 68.2 61.4 15

 16 Life insurance companies 13.8 17.6 25.2 27.3 32.1 42.9 38.8 49.6 46.6 66.6 16

 17 Finance companies 7.5 8.9 5.5 8.0 9.9 9.3 12.9 14.5 30.7 21.8 17

 18 Brokers and dealers 17.4 20.8 29.4 29.7 38.7 54.0 56.1 35.4 37.4 49.6 18

 19 Funding corporations -82.2 -79.2 -81.2 -59.5 -8.5 6.6 7.7 7.3 7.6 7.8 19

 20 Asset: Rest of the world (1) 680.1 745.6 824.1 920.0 1101.7 1421.0 1518.5 1500.0 1581.0 1742.7 20

 21 Equity 544.6 595.9 644.7 711.5 829.4 1086.8 1124.3 1136.7 1262.7 1424.0 21

 22 Intercompany debt 135.4 149.7 179.5 208.6 272.3 334.2 394.2 363.3 318.3 318.7 22

 23 U.S. affiliates’ liabilities 176.2 197.4 232.5 276.5 343.0 426.8 479.4 456.6 435.8 461.4 23

 24 Less: U.S. affiliates’ claims 40.8 47.6 53.1 67.9 70.6 92.5 85.2 93.3 117.5 142.7 24

 Memo:

 Direct investment, asset/liability presentation:

 25 Direct investment assets 1015.3 1130.8 1225.4 1385.5 1626.1 1772.2 1932.7 2127.6 2362.6 2882.6 25

 26 Equity (line 2) 827.4 922.0 994.3 1096.2 1253.5 1383.2 1537.1 1684.6 1873.8 2306.2 26

 27 Intercompany debt 188.0 208.8 231.2 289.3 372.6 389.0 395.6 443.0 488.9 576.3 27

 28 U.S. parents’ claims (line 4) 147.2 161.1 178.1 221.4 302.0 296.4 310.3 349.7 371.4 433.6 28

 29 U.S. affiliates’ claims (line 24) 40.8 47.6 53.1 67.9 70.6 92.5 85.2 93.3 117.5 142.7 29

 30 Direct investment liabilities 809.9 886.6 981.5 1109.5 1313.5 1661.6 1758.0 1760.5 1889.2 2126.8 30

 31 Equity (line 21) 544.6 595.9 644.7 711.5 829.4 1086.8 1124.3 1136.7 1262.7 1424.0 31

 32 Intercompany debt 265.3 290.7 336.9 398.1 484.1 574.8 633.7 623.8 626.5 702.7 32

 33 U.S. parents’ liabilities (line 5) 89.0 93.3 104.3 121.6 141.1 148.0 154.3 167.3 190.7 241.4 33

 34 U.S. affiliates’ liabilities (line 23) 176.2 197.4 232.5 276.5 343.0 426.8 479.4 456.6 435.8 461.4 34

 Alternative valuations of direct investment assets:

 U.S. direct investment abroad:

 35 Market value 1363.8 1608.3 1879.3 2279.6 2839.6 2694.0 2314.9 2022.6 2729.1 3362.8 35

 36 Equity 1305.6 1540.5 1805.5 2179.8 2678.8 2545.6 2158.9 1840.1 2548.4 3170.5 36

 37 Intercompany debt 58.1 67.8 73.8 99.8 160.8 148.4 156.0 182.5 180.7 192.3 37

 38 Historical cost 699.0 795.2 871.3 1000.7 1216.0 1316.2 1460.4 1616.5 1769.6 2160.8 38

 39 Equity 640.9 727.4 797.5 900.9 1055.1 1167.8 1304.3 1434.1 1588.9 1968.6 39

 40 Intercompany debt 58.1 67.8 73.8 99.8 160.8 148.4 156.0 182.5 180.7 192.3 40

 Foreign direct investment in U.S.:

 41 Market value 1005.7 1229.1 1637.4 2179.0 2798.2 2783.2 2560.3 2021.8 2454.9 2717.4 41

 42 Equity 870.3 1079.4 1457.9 1970.5 2525.9 2449.0 2166.1 1658.6 2136.5 2398.7 42

 43 Intercompany debt 135.4 149.7 179.5 208.6 272.3 334.2 394.2 363.3 318.3 318.7 43

 44 Historical cost 535.6 598.0 681.8 778.4 955.7 1256.9 1344.0 1327.2 1395.2 1520.3 44

 45 Equity 400.1 448.3 502.4 569.8 683.4 922.6 949.8 963.9 1076.8 1201.6 45

 46 Intercompany debt 135.4 149.7 179.5 208.6 272.3 334.2 394.2 363.3 318.3 318.7 46

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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108 Historical Annuals, 1995-2004, September 18, 2014

L.230 Total Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 5722.2 6077.8 6315.1 6888.8 7487.5 8461.3 9219.5 10146.0 10540.8 11614.3 1

 2 Household sector 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 2

 3 Nonfinancial corporate business 1365.0 1473.8 1322.2 1650.1 1913.1 2172.7 2227.7 2323.6 2268.2 2388.5 3

 4 Nonfinancial noncorporate business 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 4

 5 State and local governments 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 310.5 5

 6 Federal government 1579.5 1637.8 1704.7 1774.2 1845.0 1917.3 1991.7 2080.7 2179.7 2279.1 6

 7 Rest of the world 48.1 54.0 54.7 55.6 61.8 30.8 29.1 30.1 75.7 52.1 7

 8 Monetary authority 6.6 6.6 8.7 9.2 8.3 9.3 7.0 8.1 8.3 12.5 8

 9 U.S.-chartered depository institutions 773.5 838.0 948.6 922.8 981.0 1142.6 1133.1 1310.1 1412.9 1701.1 9

 10 Foreign banking offices in U.S. 126.2 137.9 164.7 173.5 183.0 239.3 197.6 236.2 244.2 275.1 10

 11 Banks in U.S.-affiliated areas 11.9 12.3 16.9 23.9 26.3 26.5 31.8 30.8 34.2 46.0 11

 12 Credit unions 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 12

 13 Property-casualty insurance companies 464.8 471.4 476.2 480.4 482.9 482.1 508.2 552.4 599.0 646.9 13

 14 Life insurance companies 500.7 529.8 692.2 730.3 785.2 741.6 729.4 715.2 856.5 912.0 14

 15 Government-sponsored enterprises 65.1 65.7 74.6 95.6 90.1 97.0 147.4 186.7 145.2 138.5 15

 16 Finance companies 211.5 213.7 216.5 203.6 273.8 408.3 458.6 524.7 635.7 697.8 16

 17 REITs 6.7 9.2 18.0 31.6 36.3 38.1 38.1 40.9 42.5 50.8 17

 18 Brokers and dealers 74.3 101.3 122.6 165.7 169.6 162.6 302.5 223.1 259.0 326.7 18

 19 Holding companies 26.5 38.2 59.7 75.5 89.8 105.9 152.3 192.2 242.5 272.1 19

 20 Funding corporations 199.3 278.3 358.9 438.9 568.4 646.7 699.1 648.2 706.2 757.6 20

 21 Total assets 6463.4 6937.5 7423.0 8566.2 9450.9 11489.3 12613.5 13645.0 13677.1 15067.8 21

 22 Household sector 328.3 338.9 351.5 360.8 372.6 378.7 397.8 444.9 501.3 553.8 22

 23 Nonfinancial corporate business 2299.5 2554.7 2698.1 3440.8 4173.8 5362.8 5439.5 5451.8 5387.8 5621.1 23

 24 Nonfinancial noncorporate business 196.3 232.6 289.2 414.1 496.6 586.5 717.0 758.0 809.1 1045.1 24

 25 State and local governments 79.4 81.0 153.1 152.6 139.8 118.2 103.1 76.9 72.1 78.6 25

 26 Federal government 116.9 110.2 106.7 113.8 119.0 123.6 125.6 128.7 130.5 133.9 26

 27 Monetary authority 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 27

 28 U.S.-chartered depository institutions 281.3 309.5 356.2 381.6 421.2 495.2 553.3 730.6 766.4 890.1 28

 29 Foreign banking offices in U.S. 36.6 27.4 28.5 34.8 37.1 33.5 32.0 36.3 29.6 30.8 29

 30 Banks in U.S.-affiliated areas 4.0 4.8 6.6 9.7 8.7 6.6 12.5 6.4 4.3 5.2 30

 31 Credit unions 13.9 13.8 17.5 24.3 9.4 19.5 28.1 34.0 26.0 25.7 31

 32 Life insurance companies 113.2 119.8 140.7 159.0 149.7 177.7 197.1 184.8 206.8 227.3 32

 33 Private pension funds 405.5 383.8 337.6 334.2 270.7 388.7 588.2 785.7 551.8 577.8 33

 34 State and local govt. retirement funds 34.7 -47.4 -169.7 -261.7 -402.3 -227.1 40.9 484.4 268.5 460.5 34

 35 Federal government retirement funds 1572.8 1630.6 1698.0 1767.5 1838.5 1910.9 1985.5 2059.3 2138.9 2221.1 35

 36 Money market mutual funds 39.4 43.8 58.1 61.5 84.8 63.9 53.8 51.5 34.4 41.7 36

 37 Mutual funds 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 37

 38 Government-sponsored enterprises 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 38

 39 Finance companies -4.6 -5.0 2.2 -54.9 -3.3 35.5 55.6 68.7 104.9 79.8 39

 40 REITs 7.3 5.6 10.5 21.2 19.9 21.7 22.4 25.0 29.3 40.4 40

 41 Brokers and dealers 255.3 308.2 387.7 491.6 472.9 594.1 738.0 623.2 721.5 804.8 41

 42 Holding companies 473.9 518.6 577.6 696.5 752.9 870.6 996.5 1108.3 1271.1 1555.9 42

 43 Funding corporations 165.5 230.7 280.1 327.3 395.7 442.4 436.5 475.2 493.4 534.8 43

 44 Discrepancy -741.2 -859.7 -1107.9 -1677.4 -1963.4 -3028.0 -3394.0 -3499.0 -3136.2 -3453.5 44
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Historical Annuals, 1995-2004, September 18, 2014 109

L.231 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 1

 2 Asset: Federal government 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 3

 4 Asset: U.S.-chartered depository institutions 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 4

 Equity in government-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 18.3 19.7 21.5 25.5 31.6 33.8 37.1 39.1 42.3 44.8 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 6

 7 Nonfinancial noncorporate (FCS) 2.9 3.0 3.0 3.0 3.0 3.1 3.5 3.6 4.2 4.2 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 14.9 16.2 17.9 21.8 27.5 29.5 32.1 33.5 35.1 36.7 9

 10 Credit unions (FHLB) 0.2 0.2 0.2 0.3 0.5 0.6 0.9 1.2 1.4 1.7 10

 11 Life insurance companies (FHLB) 0.1 0.2 0.2 0.2 0.3 0.4 0.3 0.5 1.1 1.7 11

 Holding company net transactions with subsidiaries:

 12 Liab.: U.S.-chartered depository institutions 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 12

 13 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 15.6 19.6 23.4 25.9 14

 15 Finance companies 28.6 31.5 35.2 36.0 83.9 109.2 144.9 161.1 181.8 234.1 15

 16 Brokers and dealers 53.8 43.5 47.0 85.2 54.2 56.8 24.0 1.4 21.1 23.2 16

 17 Rest of the world 18.5 22.6 21.9 21.3 25.4 -7.1 -10.4 -11.1 33.1 7.5 17

 18 Asset: Holding companies 451.5 481.9 519.6 619.2 664.7 754.8 830.3 893.8 1002.1 1252.5 18

 NFC investment in finance company subsidiaries:

 19 Liab.: Finance companies 22.5 23.0 28.0 18.0 28.6 29.4 11.6 18.5 21.0 23.6 19

 20 Asset: Nonfinancial corporate business 22.5 23.0 28.0 18.0 28.6 29.4 11.6 18.5 21.0 23.6 20

 Funding corporations’ investment in subsidiaries:

 21 Liab.: Foreign banking offices in U.S. 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 21

 22 Brokers and dealers 114.8 166.3 201.3 236.8 302.7 303.8 327.7 347.9 358.7 367.1 22

 23 Asset: Funding corporations 165.5 230.7 280.1 327.3 395.7 442.4 436.5 475.2 493.4 534.8 23

 Equity investment under Public-Private Inv. Program:

 24 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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110 Historical Annuals, 1995-2004, September 18, 2014

L.232 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.6 2.6 1

 2 Asset: Federal government 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.6 2.6 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 19.3 18.0 18.0 24.9 17.1 17.1 25.7 27.6 20.5 18.4 6

 7 Asset: U.S.-chartered depository institutions 19.3 18.0 18.0 24.9 17.1 17.1 25.7 27.6 20.5 18.4 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 8

 9 Asset: Life insurance companies 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 10

 11 Accident and health 63.2 69.4 75.7 83.0 93.5 97.4 100.5 110.6 121.5 131.3 11

 12 Policy dividend accumulation 33.7 34.5 36.4 37.1 38.4 39.5 40.4 40.6 40.5 41.7 12

 13 Contract claims 24.6 25.4 27.8 30.2 30.1 32.0 34.4 34.5 37.5 38.0 13

 14 Asset: Household sector 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 464.8 471.4 476.2 480.4 482.9 482.1 508.2 552.4 599.0 646.9 15

 16 Asset: Household sector 206.8 209.6 211.6 210.5 210.6 209.9 222.4 243.9 266.8 290.4 16

 17 Nonfinancial corporate business 186.5 189.3 191.4 193.7 195.0 195.1 205.9 224.0 243.0 262.7 17

 18 Nonfinancial noncorporate business 71.5 72.5 73.2 76.2 77.3 77.2 80.0 84.5 89.2 93.8 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 322.2 341.0 458.6 477.8 511.6 461.4 417.2 371.7 473.5 505.8 19

 20 Asset: Private pension funds 322.2 341.0 391.0 392.8 406.9 363.6 326.4 292.2 372.9 392.2 20

 21 State and local government retirement funds 0.0 0.0 67.5 84.9 104.7 97.8 90.8 79.5 100.6 113.6 21

 Pension fund contributions payable:

 22 Liab.: Nonfinancial corporate business 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 22

 23 Asset: Private pension funds 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 23

 Securities borrowed (net):

 24 Liab.: Funding corporations 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 24

 25 Asset: Brokers and dealers 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 25

 Nonmarketable government securities:

 26 Liab.: Federal government 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 26

 27 Asset: Federal government retirement funds 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 27

 Retiree health care funds (2):

 28 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 35.0 52.4 28

 29 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 35.0 52.4 29

 Claims of pension fund on sponsor (3):

 30 Liab.: Nonfinancial corporate business -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 30

 31 State and local governments 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 310.5 31

 32 Federal government 1066.5 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 32

 33 Asset: Private pension funds -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 33

 34 State and local govt. retirement funds 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 310.5 34

 35 Federal government retirement funds 1066.5 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.

(3) Assets of the household sector.
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L.233 Unidentified Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2278.7 2527.1 2706.9 3078.7 3673.6 4042.3 4049.0 4078.5 4531.0 4867.9 1

 2 Nonfinancial corporate business 1375.4 1544.7 1499.1 1837.4 2197.7 2293.2 2067.6 1933.9 2190.2 2307.6 2

 3 Nonfinancial noncorporate business 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 3

 4 Federal government 6.7 7.3 6.6 6.7 6.6 6.4 6.2 6.0 5.8 5.6 4

 5 Monetary authority 2.6 2.0 3.2 3.3 1.9 2.3 -0.3 -0.2 -0.6 0.6 5

 6 U.S.-chartered depository institutions 422.9 453.7 533.1 446.1 479.8 546.7 476.8 587.3 670.2 739.3 6

 7 Foreign banking offices in U.S. 70.6 70.6 83.3 81.3 88.5 98.5 87.8 108.2 109.2 106.8 7

 8 Banks in U.S.-affiliated areas 11.9 12.3 16.9 23.9 26.3 26.5 31.8 30.8 34.2 46.0 8

 9 Credit unions 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 9

 10 Life insurance companies 57.0 59.5 93.7 102.3 111.6 111.3 121.2 138.2 160.1 169.3 10

 11 Government-sponsored enterprises 27.6 28.0 35.1 45.2 41.5 46.1 84.6 120.0 82.4 75.3 11

 12 Finance companies 160.4 159.1 153.4 149.6 161.3 269.7 302.1 345.2 432.9 440.1 12

 13 REITs 6.7 9.2 18.0 31.6 36.3 38.1 38.1 40.9 42.5 50.8 13

 14 Brokers and dealers -94.3 -108.4 -125.6 -156.2 -187.3 -197.9 -49.3 -126.2 -120.8 -63.5 14

 15 Holding companies 26.5 38.2 59.7 75.5 89.8 105.9 152.3 192.2 242.5 272.1 15

 16 Funding corporations -16.8 2.2 25.7 35.6 148.9 138.5 120.8 72.8 28.2 -7.2 16

 17 Total assets 3019.9 3386.8 3814.8 4756.1 5637.0 7070.3 7443.0 7577.5 7667.2 8321.4 17

 18 Nonfinancial corporate business 2090.4 2342.2 2478.6 3229.0 3950.0 5138.1 5221.7 5208.9 5123.3 5334.3 18

 19 Nonfinancial noncorporate business 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 715.7 947.1 19

 20 State and local governments 79.4 81.0 153.1 152.6 139.8 118.2 103.1 76.9 72.1 78.6 20

 21 Federal government 87.2 78.8 73.8 79.5 82.6 85.7 86.0 87.6 87.9 89.3 21

 22 Monetary authority 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 22

 23 U.S.-chartered depository institutions 243.2 270.6 314.9 329.0 370.2 441.6 488.1 661.1 701.9 823.1 23

 24 Foreign banking offices in U.S. 36.6 27.4 28.5 34.8 37.1 33.5 32.0 36.3 29.6 30.8 24

 25 Banks in U.S.-affiliated areas 4.0 4.8 6.6 9.7 8.7 6.6 12.5 6.4 4.3 5.2 25

 26 Credit unions 13.8 13.6 17.3 24.0 8.8 18.9 27.3 32.8 24.6 24.0 26

 27 Life insurance companies 95.6 101.3 121.9 141.5 129.9 157.8 177.7 164.3 184.7 203.1 27

 28 Private pension funds 93.8 113.6 123.5 128.6 148.3 145.6 101.6 103.8 101.0 104.7 28

 29 State and local govt. retirement funds 6.3 7.0 7.6 7.6 8.9 9.1 11.6 10.7 11.6 36.4 29

 30 Mutual funds 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 30

 31 Money market mutual funds 39.4 43.8 58.1 61.5 84.8 63.9 53.8 51.5 34.4 41.7 31

 32 Government-sponsored enterprises 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 32

 33 Finance companies -4.6 -5.0 2.2 -54.9 -3.3 35.5 55.6 68.7 104.9 79.8 33

 34 REITs 7.3 5.6 10.5 21.2 19.9 21.7 22.4 25.0 29.3 40.4 34

 35 Brokers and dealers 39.2 32.2 54.4 88.4 53.4 85.9 159.7 47.8 43.5 40.0 35

 36 Holding companies 22.4 36.7 58.0 77.4 88.2 115.9 166.2 214.5 269.0 303.4 36

 37 Discrepancy -741.2 -859.7 -1107.9 -1677.4 -1963.4 -3028.0 -3394.0 -3499.0 -3136.2 -3453.5 37
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112 Historical Annuals, 1995-2004, September 18, 2014

B.100 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 34277.4 36368.4 40169.8 44435.2 49884.7 51203.6 52149.0 52447.0 58880.5 66984.7 1

 2 Nonfinancial assets 11497.7 11985.0 12688.2 13778.7 14963.4 16924.9 18457.9 20048.1 21929.0 25004.3 2

 3 Real estate 8835.1 9220.4 9826.7 10788.5 11800.5 13533.7 14889.6 16297.7 18006.5 20839.9 3

 4 Households (2,3) 8055.5 8428.1 8854.6 9693.5 10641.1 12213.6 13568.0 14867.1 16491.9 18991.8 4

 5 Nonprofit organizations 779.6 792.3 972.1 1095.0 1159.4 1320.1 1321.6 1430.6 1514.6 1848.1 5

 6 Equipment (nonprofits) (4) 90.1 91.4 94.6 103.6 114.3 127.3 140.2 155.9 171.8 189.4 6

 7 Intellectual property products (nonprofits) (4) 43.2 45.3 48.9 52.9 57.5 62.0 63.8 67.1 71.6 75.5 7

 8 Consumer durable goods (4) 2529.3 2627.9 2718.0 2833.8 2991.1 3201.8 3364.3 3527.5 3679.2 3899.5 8

 9 Financial assets 22779.7 24383.4 27481.6 30656.5 34921.3 34278.8 33691.1 32398.9 36951.4 41980.4 9

 10 Deposits 3427.7 3568.1 3735.4 3940.1 4126.9 4462.5 4984.4 5240.4 5481.0 5843.1 10

 11 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.8 61.8 11

 12 Checkable deposits and currency 586.5 544.8 503.9 528.7 508.9 405.4 480.1 464.1 458.0 399.8 12

 13 Time and savings deposits 2345.4 2486.9 2623.0 2706.3 2807.9 3071.5 3354.6 3657.9 4015.7 4483.2 13

 14 Money market fund shares 472.4 500.9 571.3 667.4 769.5 937.3 1101.0 1068.4 954.5 898.3 14

 15 Credit market instruments 2381.4 2513.3 2444.1 2468.3 2581.5 2458.4 2246.9 2236.9 2397.9 3275.8 15

 16 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 16

 17 Treasury securities 836.7 888.5 797.1 732.1 809.5 578.3 433.9 269.9 416.9 472.7 17

 18 Agency- and GSE-backed securities 216.3 332.6 390.3 441.5 540.5 587.9 385.0 241.5 376.6 443.6 18

 19 Municipal securities 533.4 493.0 497.6 498.4 526.9 531.5 587.9 671.5 687.2 1522.9 19

 20 Corporate and foreign bonds 609.7 617.2 582.8 621.3 517.0 557.5 640.1 852.0 714.5 614.3 20

 21 Other loans and advances (5) 0.1 0.1 0.2 0.2 0.6 1.9 2.6 2.8 3.1 5.9 21

 22 Mortgages 113.6 106.1 99.0 94.7 102.0 104.0 109.2 117.2 122.2 132.6 22

 23 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Corporate equities (2) 4434.2 4712.2 6114.0 7468.4 9719.5 8096.6 6787.9 5123.3 6713.6 7406.1 24

 25 Mutual fund shares (6) 1253.0 1561.9 1874.2 2255.6 2767.2 2589.0 2501.6 2124.6 2794.1 3291.8 25

 26 Security credit 145.4 189.9 219.8 292.3 349.7 460.7 502.1 441.9 521.1 635.2 26

 27 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 27

 28 Pension entitlements (7) 6717.6 7242.2 8046.2 8878.6 9709.2 10017.3 10195.3 10340.4 11414.2 12567.1 28

 29 Equity in noncorporate business (8) 3526.0 3646.2 4031.3 4274.2 4510.9 4996.4 5195.0 5525.6 6115.1 7347.1 29

 30 Miscellaneous assets 328.3 338.9 351.5 360.8 372.6 378.7 397.8 444.9 501.3 553.8 30

 31 Liabilities 5041.7 5404.2 5757.0 6198.2 6753.5 7348.9 7974.0 8758.0 9832.7 11004.1 31

 32 Credit market instruments 4844.5 5182.3 5489.2 5901.4 6375.3 6959.5 7625.7 8437.9 9472.5 10544.3 32

 33 Home mortgages (9) 3319.2 3537.3 3753.2 4054.7 4431.6 4813.9 5322.0 6028.2 6909.9 7859.4 33

 34 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 34

 35 Municipal securities (10) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 35

 36 Depository institution loans n.e.c. 50.8 40.7 50.5 42.9 19.3 14.9 -1.2 -25.2 3.2 -16.8 36

 37 Other loans and advances 108.4 122.3 123.0 122.6 117.8 119.1 120.0 120.2 118.7 119.0 37

 38 Commercial mortgages (10) 101.6 105.7 108.8 118.7 121.2 132.8 141.7 153.8 160.1 165.0 38

 39 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 39

 40 Trade payables (10) 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 40

 41 Deferred and unpaid life insurance premiums 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 41

 42 Net worth 29235.7 30964.2 34412.7 38237.1 43131.2 43854.7 44175.0 43689.0 49047.7 55980.6 42

 Memo:

 Replacement-cost value of structures:

 43 Residential 5595.3 5915.7 6247.4 6670.4 7200.9 7731.9 8331.6 8927.4 9732.9 10933.1 43

 44 Households 5484.7 5802.3 6129.3 6546.4 7071.1 7595.7 8188.3 8776.8 9573.7 10759.5 44

 45 Nonprofit organizations 110.5 113.4 118.1 124.0 129.8 136.2 143.3 150.6 159.2 173.7 45

 46 Nonresidential (nonprofits) 588.1 615.5 656.5 703.6 753.3 807.9 861.3 907.7 960.4 1065.6 46

 47 Disposable personal income (SAAR) 5532.6 5829.9 6148.9 6561.3 6876.3 7400.5 7752.3 8099.2 8485.8 9002.3 47

 Household net worth as percentage of

 48 disposable personal income (SAAR) 528.4 531.1 559.7 582.8 627.2 592.6 569.8 539.4 578.0 621.8 48

 Owners’ equity in household real

 49 estate (11) 4736.3 4890.8 5101.4 5638.9 6209.5 7399.7 8246.0 8838.9 9582.0 11132.4 49

 Owners’ equity as percentage of

 50 household real estate (12) 58.8 58.0 57.6 58.2 58.4 60.6 60.8 59.5 58.1 58.6 50

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

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

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

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

(8) Net worth of nonfinancial noncorporate business (table B.103, line 34) and owners’ equity in unincorporated security brokers and dealers.

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

(10) Liabilities of nonprofit organizations.

(11) Line 4 less line 33.

(12) Line 49 divided by line 4.
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Historical Annuals, 1995-2004, September 18, 2014 113

B.102 Balance Sheet of Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 12226.6 12959.5 14289.8 16003.6 17774.7 20434.2 20520.1 20982.8 21494.0 23867.5 1

 2 Nonfinancial assets 7251.2 7487.0 8471.3 9178.8 9681.2 10673.4 10633.1 11041.2 11377.3 12930.2 2

 3 Real estate (1) 3223.0 3260.1 4021.9 4529.8 4715.6 5363.4 5279.3 5608.9 5814.9 7051.1 3

 4 Equipment (2) 2249.1 2368.6 2477.4 2582.5 2720.5 2888.8 2961.3 2975.8 3006.1 3145.4 4

 5 Intellectual property products (2) 700.1 753.8 824.2 892.2 986.6 1081.1 1119.5 1144.4 1195.9 1242.2 5

 6 Inventories (2) 1079.0 1104.5 1147.8 1174.3 1258.5 1340.0 1273.0 1312.2 1360.4 1491.6 6

 7 Financial assets 4975.4 5472.5 5818.4 6824.8 8093.5 9760.8 9887.0 9941.6 10116.7 10937.3 7

 8 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 8

 9 Checkable deposits and currency 206.7 189.0 177.7 161.8 191.3 226.4 172.5 160.2 204.2 207.2 9

 10 Time and savings deposits 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 10

 11 Money market fund shares 60.0 94.6 118.8 161.7 196.8 213.9 314.1 319.7 289.3 299.6 11

 12 Security repurchase agreements 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 12

 13 Credit market instruments 280.4 270.2 263.0 246.0 221.8 248.3 243.6 269.5 266.8 298.0 13

 14 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 14

 15 Treasury securities 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 33.7 34.0 15

 16 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 16

 17 Municipal securities 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 17

 18 Mortgages 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 18

 19 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 19

 20 Mutual fund shares (1) 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 20

 21 Trade receivables 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.5 1701.8 1830.6 21

 22 U.S. direct investment abroad (3) 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 22

 23 Miscellaneous assets 2299.5 2554.7 2698.1 3440.8 4173.8 5362.8 5439.5 5451.8 5387.8 5621.1 23

 24 Liabilities 6023.1 6393.6 6645.4 7476.2 8427.3 9632.4 9833.2 9950.0 9894.6 10381.6 24

 25 Credit market instruments 3087.9 3236.8 3514.0 3893.0 4300.9 4659.3 4819.4 4822.4 4839.3 4993.8 25

 26 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 26

 27 Municipal securities (4) 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 27

 28 Corporate bonds (3) 1486.9 1574.6 1702.1 1909.5 2116.4 2267.4 2560.8 2643.1 2716.0 2703.9 28

 29 Depository institution loans n.e.c. 631.5 662.3 716.9 797.5 846.1 901.3 796.8 693.4 614.1 618.0 29

 30 Other loans and advances 467.2 484.8 534.9 595.0 623.1 700.9 703.0 734.9 742.2 793.3 30

 31 Mortgages 210.2 220.8 249.5 250.3 332.2 357.1 423.3 470.5 520.6 595.3 31

 32 Trade payables 878.6 928.3 993.6 1051.2 1229.8 1542.4 1438.8 1458.6 1403.9 1501.5 32

 33 Taxes payable 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 33

 34 Foreign direct investment in U.S. 651.3 704.8 756.4 817.8 912.5 1180.0 1266.2 1252.5 1302.0 1409.8 34

 35 Miscellaneous liabilities 1365.0 1473.8 1322.2 1650.1 1913.1 2172.7 2227.7 2323.6 2268.2 2388.5 35

 36 Net worth (market value) 6203.4 6565.9 7644.3 8527.4 9347.4 10801.8 10686.8 11032.8 11599.4 13485.9 36

 Memo:

 Replacement-cost value of structures:

 37 Residential 71.2 74.7 80.0 86.0 91.4 97.6 104.1 111.2 118.9 131.5 37

 38 Nonresidential 3079.6 3224.1 3416.4 3598.2 3771.1 4030.3 4303.2 4526.0 4717.0 5247.3 38

 39 Market value of equities outstanding 6406.8 6804.3 8674.5 10962.3 14476.8 12444.5 10868.6 8212.3 10845.2 12088.6 39

 40 Debt/net worth (percent) (line 25 divided by line 36) 49.8 49.3 46.0 45.7 46.0 43.1 45.1 43.7 41.7 37.0 40

 41 Debt/equities (percent) (line 25 divided by line 39) 48.2 47.6 40.5 35.5 29.7 37.4 44.3 58.7 44.6 41.3 41

 42 Equities/net worth (percent) (line 39 divided by line 36) 103.3 103.6 113.5 128.6 154.9 115.2 101.7 74.4 93.5 89.6 42

 With nonfinancial assets stated at historical cost:

 43 Assets (sum of lines 7 and 44) 10554.2 11386.0 12094.8 13483.3 15176.8 17335.6 17737.7 18010.3 18414.6 19589.6 43

 44 Nonfinancial assets 5578.8 5913.5 6276.3 6658.6 7083.3 7574.8 7850.8 8068.7 8297.9 8652.3 44

 45 Real estate 2044.0 2138.8 2244.7 2369.0 2488.8 2641.5 2805.2 2920.0 3024.6 3142.4 45

 46 Equipment 1878.0 2024.6 2181.2 2334.2 2499.8 2680.2 2788.4 2833.2 2880.8 2951.9 46

 47 Intellectual property products 625.2 682.4 751.4 818.1 895.8 982.9 1047.6 1083.8 1123.2 1168.4 47

 48 Inventories 1031.5 1067.7 1099.0 1137.3 1198.8 1270.2 1209.5 1231.6 1269.2 1389.6 48

 49 Net worth (historical cost) (line 43 less line 24) 4531.1 4992.4 5449.4 6007.1 6749.5 7703.2 7904.5 8060.3 8520.0 9208.0 49

 Memo:

 Historical-cost value of structures:

 50 Residential 31.0 32.8 35.4 37.9 40.9 44.4 48.0 51.8 56.2 61.1 50

 51 Nonresidential 1722.8 1818.5 1921.9 2038.0 2154.4 2292.5 2432.1 2535.9 2634.8 2736.1 51

 52 Debt/net worth (percent) (line 25 divided by line 49) 68.2 64.8 64.5 64.8 63.7 60.5 61.0 59.8 56.8 54.2 52

 (1) At market value.

 (2) At replacement (current) cost.

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

 (4) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.
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B.103 Balance Sheet of Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 5040.2 5294.5 5870.5 6418.4 6964.2 7780.9 8202.9 8732.8 9384.2 10973.3 1

 2 Nonfinancial assets 4447.7 4607.3 5052.3 5377.5 5738.3 6308.2 6573.4 7024.6 7595.5 8813.8 2

 3 Real estate (1) 3867.5 3970.9 4396.7 4713.6 5041.3 5568.5 5817.8 6235.6 6767.1 7931.5 3

 4 Residential 2300.2 2384.1 2567.8 2725.2 2974.4 3291.3 3552.9 3902.2 4310.3 5004.2 4

 5 Nonresidential 1567.3 1586.9 1828.8 1988.4 2067.0 2277.2 2264.9 2333.4 2456.8 2927.2 5

 6 Equipment (2) 380.0 396.2 408.8 423.7 438.2 458.1 475.3 490.2 506.1 540.5 6

 7 Residential (3) 31.8 32.6 32.5 33.0 33.7 35.0 36.2 36.9 37.0 38.5 7

 8 Nonresidential 348.2 363.6 376.3 390.8 404.5 423.1 439.1 453.4 469.2 502.0 8

 9 Intellectual property products (2) 56.7 60.0 64.8 72.2 83.9 96.8 105.6 115.7 126.1 135.5 9

 10 Inventories (2) 143.4 180.1 182.0 168.0 174.9 184.8 174.7 183.0 196.2 206.3 10

 11 Financial assets 592.5 687.2 818.2 1040.8 1225.9 1472.7 1629.5 1708.2 1788.7 2159.5 11

 12 Checkable deposits and currency 119.8 139.0 161.3 167.4 172.6 181.0 181.8 184.5 190.6 297.5 12

 13 Time and savings deposits 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 300.6 13

 14 Money market fund shares 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 66.5 14

 15 Credit market instruments 47.6 51.6 54.2 67.1 64.0 66.0 73.1 72.4 73.9 85.4 15

 16 Treasury securities 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 16

 17 Municipal securities 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 17

 18 Mortgages 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 18

 19 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Trade receivables 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 20

 21 Miscellaneous assets 196.3 232.6 289.2 414.1 496.6 586.5 717.0 758.0 809.1 1045.1 21

 22 Insurance receivables 71.5 72.5 73.2 76.2 77.3 77.2 80.0 84.5 89.2 93.8 22

 23 Equity investment in GSEs (4) 2.9 3.0 3.0 3.0 3.0 3.1 3.5 3.6 4.2 4.2 23

 24 Other 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 715.7 947.1 24

 25 Liabilities 1519.6 1654.8 1848.7 2153.8 2464.9 2796.1 3014.1 3212.2 3282.1 3637.4 25

 26 Credit market instruments 1174.6 1245.1 1347.0 1526.0 1719.8 1912.3 2075.7 2227.6 2301.5 2556.2 26

 27 Depository institution loans n.e.c. 200.6 229.8 276.6 302.1 351.7 402.1 445.6 469.3 479.7 512.6 27

 28 Other loans and advances 104.1 105.1 109.4 115.1 121.2 128.7 125.1 127.7 127.1 128.3 28

 29 Mortgages 869.9 910.1 961.1 1108.8 1246.9 1381.5 1505.0 1630.6 1694.7 1915.3 29

 30 Trade payables 96.7 128.5 160.4 190.8 225.2 266.7 262.0 287.4 261.2 284.9 30

 31 Taxes payable 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 31

 32 Foreign direct investment in U.S. 2.8 4.0 3.9 3.4 3.6 3.3 3.3 4.0 3.3 3.0 32

 33 Miscellaneous liabilities 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 33

 34 Net worth (5) 3520.6 3639.7 4021.8 4264.6 4499.4 4984.8 5188.9 5520.6 6102.1 7335.9 34

 Memo:

 Replacement-cost value of structures:

 35 Residential 1525.4 1588.1 1664.8 1755.0 1847.4 1941.2 2040.4 2142.2 2267.3 2475.6 35

 36 Nonresidential 833.0 861.9 904.8 955.4 1005.6 1066.9 1126.3 1174.1 1218.0 1346.6 36

 37 Debt/net worth (percent) (6) 33.4 34.2 33.5 35.8 38.2 38.4 40.0 40.4 37.7 34.8 37

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 25. Included in table B.100, line 29.

(6) Line 26 divided by line 34.
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Historical Annuals, 1995-2004, September 18, 2014 115

R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 2435.5 1728.6 3448.5 3824.3 4894.2 723.5 320.3 -486.1 5358.8 6932.9 1

 2 Net investment 508.7 543.7 495.9 652.8 501.3 258.7 464.9 375.5 586.0 822.3 2

 3 Net physical investment 244.8 288.6 323.0 404.4 472.0 515.3 510.1 546.5 596.8 691.3 3

 4 Capital expenditures 899.6 971.6 1034.2 1151.0 1261.9 1365.9 1413.7 1496.4 1600.2 1768.4 4

 5 - Consumption of fixed capital 654.8 683.0 711.2 746.6 789.9 850.6 903.7 949.9 1003.4 1077.1 5

 6 Net lending (+) or net borrowing (-) 264.0 255.1 172.9 248.4 29.4 -256.6 -45.2 -171.0 -10.9 131.1 6

 7 Net acquisition of financial assets 595.6 604.5 525.8 689.5 584.6 329.0 579.9 613.1 1033.7 1282.4 7

 8 - Net increase in liabilities 331.6 349.4 352.8 441.2 555.3 585.6 625.1 784.0 1044.6 1151.3 8

 Holding gains on assets

 9 at market value (2) 1889.3 1131.1 2996.2 3130.8 4308.2 805.6 -173.8 -826.0 4576.9 5122.9 9

 10 Real estate 153.1 213.8 421.7 733.4 775.9 1487.0 1101.2 1125.3 1376.0 2436.5 10

 11 Corporate equities 1212.1 435.1 1640.1 1640.2 2400.8 -712.5 -818.7 -1481.9 1695.4 967.4 11

 12 Mutual fund shares 106.4 152.2 193.0 208.2 413.2 -257.9 -217.1 -457.0 407.5 316.8 12

 13 Equity in noncorporate business 158.6 124.3 405.4 281.3 307.2 506.9 221.4 404.0 537.6 1170.4 13

 14 Life insurance reserves 0.0 0.0 -5.0 5.7 12.5 -14.9 -16.6 -21.3 23.8 14.1 14

 15 Pension entitlements 259.1 205.8 341.0 261.9 398.7 -203.0 -444.1 -395.0 536.7 217.7 15

 16 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Holding gains on assets

 17 at current cost (2) 10.5 -13.8 -40.6 -55.6 -58.7 -38.1 -72.7 -78.6 -89.2 -37.6 17

 18 Consumer durable goods 10.6 -11.6 -37.5 -51.8 -56.1 -36.0 -68.1 -75.6 -88.0 -34.5 18

 19 Equipment -0.5 -2.0 -3.1 -3.8 -3.3 -2.6 -2.9 -1.9 -1.7 -2.0 19

 20 Intellectual property products 0.5 -0.2 0.0 0.1 0.6 0.5 -1.7 -1.0 0.5 -1.1 20

 21 Other volume changes (3) 26.9 67.5 -3.1 96.3 143.4 -302.6 102.0 43.0 285.0 1025.2 21

 Memo:

 22 Net worth outstanding (4) 29235.7 30964.2 34412.7 38237.1 43131.2 43854.7 44175.0 43689.0 49047.7 55980.6 22

 23 Disposable personal income 5532.6 5829.9 6148.9 6561.3 6876.3 7400.5 7752.3 8099.2 8485.8 9002.3 23

(1) Sum of net investment (line 2), holding gains (lines 9 and 17), and other volume changes (line 21).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.100, line 42.
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116 Historical Annuals, 1995-2004, September 18, 2014

R.102 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 471.5 362.5 1078.4 883.1 820.0 1454.4 -115.0 346.0 566.6 1886.5 1

 2 Net investment 235.0 247.3 211.8 49.5 235.7 266.0 256.8 172.1 218.5 321.8 2

 3 Net physical investment 260.6 245.0 309.3 314.5 369.6 418.6 227.2 145.9 171.3 250.3 3

 4 Capital expenditures 764.7 804.2 920.7 966.8 1047.4 1142.1 1019.0 955.2 978.7 1059.6 4

 5 - Consumption of fixed capital 522.3 556.1 597.3 636.6 681.8 740.2 783.7 803.2 816.9 848.8 5

 6 - Inventory valuation adjustment -18.3 3.1 14.1 15.7 -4.0 -16.8 8.0 6.1 -9.6 -39.5 6

 7 Net lending (+) or net borrowing (-) 32.7 49.6 -20.1 -49.5 -23.5 -34.5 77.7 50.3 72.7 165.0 7

 8 Net acquisition of financial assets 424.7 449.5 265.0 568.4 965.5 1203.9 175.7 138.6 86.1 779.1 8

 9 - Net increase in liabilities 392.1 399.9 285.1 617.9 989.1 1238.3 97.9 88.3 13.4 614.1 9

 10 Net corporate equity issues -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 10

 Holding gains on assets

 11 at market value (2) 77.3 -9.1 717.3 446.9 131.9 535.8 -201.2 260.6 182.9 1210.7 11

 12 Real estate 67.4 -16.9 707.1 438.3 112.1 545.4 -187.8 278.5 164.7 1198.8 12

 13 Mutual fund shares 10.0 7.8 10.2 8.6 19.8 -9.6 -13.4 -17.9 18.2 11.9 13

 Holding gains on assets less

 14 liabilities at current cost (2) 63.1 44.5 -8.0 23.7 128.9 -22.5 -1.6 70.8 17.0 182.7 14

 15 Equipment 33.6 0.3 -26.3 -35.3 -21.1 -7.0 -35.0 -34.0 -24.5 64.9 15

 16 Intellectual property products 17.1 8.0 13.1 11.5 29.6 25.3 -11.4 -1.3 21.5 10.9 16

 17 Inventories (3) 6.0 7.1 -4.8 -14.9 23.0 14.3 -24.7 27.0 21.6 41.4 17

 18 Direct investment abroad 2.8 11.0 -17.6 -21.3 9.0 -37.1 14.4 -9.0 7.9 77.2 18

 19 - Foreign direct investment in U.S. -3.6 -18.0 -27.7 -83.6 -88.4 18.0 -55.1 -88.1 9.5 11.8 19

 20 Other volume changes (4) 96.2 79.8 157.2 363.0 323.5 675.2 -168.9 -157.5 148.2 171.3 20

 Memo:

 21 Net worth outstanding (5) 6203.4 6565.9 7644.3 8527.4 9347.4 10801.8 10686.8 11032.8 11599.4 13485.9 21

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.102, line 36.
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Historical Annuals, 1995-2004, September 18, 2014 117

R.103 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 175.8 119.1 382.1 242.8 234.7 485.4 204.1 331.7 581.5 1233.8 1

 2 Net capital transfers paid -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 2

 3 Net investment 18.8 -4.3 -21.4 -37.0 -70.4 -21.2 -17.6 -74.1 55.3 77.4 3

 4 Net physical investment 15.8 35.2 42.2 46.1 56.1 63.6 43.4 45.1 45.4 61.9 4

 5 Capital expenditures 139.1 163.0 175.3 186.2 205.5 224.7 215.7 226.5 237.0 267.3 5

 6 - Consumption of fixed capital 123.3 127.7 133.1 140.1 149.4 161.2 172.3 181.4 191.6 205.4 6

 7 Net lending (+) or net borrowing (-) -15.4 -35.2 -42.2 -46.1 -55.6 -63.6 -42.1 -45.1 -45.4 -56.9 7

 8 Net acquisition of financial assets 76.2 94.7 131.0 222.6 185.0 246.8 156.9 78.6 80.5 370.8 8

 9 - Net increase in liabilities 91.6 130.0 173.2 268.7 240.7 310.3 199.0 123.7 125.8 427.7 9

 10 Proprietor’s net investment (2) 18.4 -4.3 -21.4 -37.0 -70.8 -21.2 -18.9 -74.1 55.3 72.4 10

 11 Holding gains on real estate (3) 134.0 84.1 402.0 289.7 292.9 488.5 217.2 387.8 496.6 1129.2 11

 12 Residential 86.3 68.3 166.4 141.9 227.8 295.6 243.8 327.6 379.7 666.3 12

 13 Nonresidential 47.7 15.8 235.6 147.8 65.1 193.0 -26.6 60.2 116.9 462.9 13

 14 Holding gains on assets at current cost (3) 23.5 39.4 1.5 -9.9 13.1 18.1 5.1 18.0 29.6 33.8 14

 15 Residential equipment 0.0 0.4 -0.5 -0.3 -0.4 -0.0 -0.1 -0.6 -1.4 -0.5 15

 16 Nonresidential equipment 15.3 10.8 6.2 8.2 5.4 7.6 9.3 7.3 13.7 29.4 16

 17 Intellectual property products 2.2 1.6 2.0 2.1 4.3 4.5 2.1 3.5 5.7 8.3 17

 18 Inventories 4.0 27.4 -6.9 -20.6 3.3 5.7 -6.1 8.2 11.0 -3.4 18

 19 - Foreign direct investment in U.S. -2.0 0.9 -0.7 -0.6 -0.5 -0.3 0.1 0.3 -0.6 -0.0 19

 20 Other volume changes (4) -0.1 -0.0 -0.0 0.0 -0.4 0.0 0.7 0.0 0.0 -1.6 20

 Memo:

 21 Net worth outstanding (5) 3520.6 3639.7 4021.8 4264.6 4499.4 4984.8 5188.9 5520.6 6102.1 7335.9 21

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Shown on table F.103, line 31.

(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 34.
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118 Historical Annuals, 1995-2004, September 18, 2014

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 34277.4 36368.4 40169.8 44435.2 49884.7 51203.6 52149.0 52447.0 58880.5 66984.7 1

 2 Nonfinancial assets 11497.7 11985.0 12688.2 13778.7 14963.4 16924.9 18457.9 20048.1 21929.0 25004.3 2

 3 Financial assets 22779.7 24383.4 27481.6 30656.5 34921.3 34278.8 33691.1 32398.9 36951.4 41980.4 3

 4 Deposits 3427.7 3568.1 3735.4 3940.1 4126.9 4462.5 4984.4 5240.4 5481.0 5843.1 4

 5 Credit market instruments 2381.4 2513.3 2444.1 2468.3 2581.5 2458.4 2246.9 2236.9 2397.9 3275.8 5

 6 Equity shares at market value 6191.6 6987.4 9236.9 11331.8 14624.4 12755.3 11009.3 8513.8 11337.0 12842.6 6

 7 Directly held 4434.2 4712.2 6114.0 7468.4 9719.5 8096.6 6787.9 5123.3 6713.6 7406.1 7

 8 Indirectly held 1757.4 2275.2 3122.8 3863.5 4904.9 4658.6 4221.3 3390.5 4623.5 5436.5 8

 9 Life insurance companies 274.7 373.3 510.5 665.4 904.4 882.8 806.5 692.5 887.3 1028.9 9

 10 Private pension funds (1) 738.9 856.9 1187.0 1427.8 1684.3 1645.6 1484.1 1243.3 1659.6 1883.3 10

 11 State and local govt. retirement funds (1) 39.2 46.0 129.8 162.7 200.4 189.1 167.2 138.3 182.0 206.5 11

 12 Federal govt. retirement funds (1) 11.5 18.8 29.9 43.0 56.9 56.6 49.1 39.0 62.1 79.9 12

 13 Mutual funds 693.2 980.2 1265.6 1564.6 2058.9 1884.5 1714.5 1277.5 1832.4 2237.9 13

 14 Other 10779.1 11314.6 12065.2 12916.3 13588.5 14602.6 15450.6 16407.8 17735.5 20018.9 14

 15 Liabilities 5041.7 5404.2 5757.0 6198.2 6753.5 7348.9 7974.0 8758.0 9832.7 11004.1 15

 16 Net worth 29235.7 30964.2 34412.7 38237.1 43131.2 43854.7 44175.0 43689.0 49047.7 55980.6 16

 Memo:

 Equity shares (line 6) as a percent of

 17 Total assets (line 1) 18.1 19.2 23.0 25.5 29.3 24.9 21.1 16.2 19.3 19.2 17

 18 Financial assets (line 3) 27.2 28.7 33.6 37.0 41.9 37.2 32.7 26.3 30.7 30.6 18

(1) Defined contribution plans. Assets held by defined benefit pension funds are not considered assets of the household sector. Defined benefit pension entitlements are included in line 14.
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Historical Annuals, 1995-2004, September 18, 2014 119

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 2218.2 2382.3 2559.3 2731.7 2903.4 3133.1 3118.2 2967.0 3042.8 3265.1 1

 2 Personal current taxes 743.9 832.0 926.2 1026.4 1107.5 1232.3 1234.8 1050.3 1000.9 1046.0 2

 3 Taxes on production and imports 557.9 580.8 611.6 639.5 673.6 708.6 727.7 762.6 808.0 863.9 3

 4 Taxes on corporate income 211.0 223.6 237.1 239.2 248.8 254.7 193.5 181.3 231.8 292.0 4

 5 Taxes from the rest of the world 3.9 5.2 5.1 5.7 5.9 7.3 7.7 7.6 9.0 10.0 5

 6 Contributions for govt. social insurance 535.5 557.9 590.3 627.8 664.6 709.4 736.9 755.2 783.2 833.6 6

 7 Income receipts on assets 92.9 100.3 103.6 102.8 106.3 119.5 115.6 100.3 97.3 102.2 7

 8 Current transfer receipts 57.5 65.7 68.0 74.2 80.5 90.7 96.8 102.6 108.8 119.3 8

 9 Current surplus of government enterprises 15.6 16.9 17.5 16.3 16.2 10.7 5.2 7.0 3.9 -1.8 9

 10 Current expenditures, NIPA basis 2490.6 2573.2 2648.8 2713.6 2827.5 2966.7 3169.0 3358.4 3567.1 3772.7 10

 11 Consumption expenditures 1144.5 1176.5 1224.6 1272.1 1357.6 1444.2 1545.1 1651.4 1755.6 1868.9 11

 12 Government social benefits 867.0 908.8 937.6 960.1 996.1 1049.2 1150.8 1255.8 1326.7 1410.6 12

 13 Other current transfer payments 15.4 20.4 17.0 18.0 18.6 21.6 17.7 22.8 27.9 30.2 13

 14 Interest payments 428.9 432.3 435.8 427.0 410.0 405.8 396.7 387.0 407.8 416.6 14

 15 Subsidies 34.8 35.2 33.8 36.4 45.2 45.8 58.7 41.4 49.1 46.4 15

 16 Net saving, NIPA basis -272.4 -191.0 -89.5 18.1 75.9 166.4 -50.8 -391.4 -524.3 -507.6 16

 17 + Consumption of fixed capital 240.2 245.0 249.9 255.3 264.9 277.7 286.3 294.1 304.9 322.4 17

 18 - Insurance and pension fund reserves (1) 3.6 3.4 3.4 4.4 3.8 1.8 3.3 -1.7 -0.6 0.0 18

 19 - Contr. for govt. soc. insur., U.S.-affiliated areas 2.7 2.8 3.0 3.1 3.3 3.6 3.7 3.8 3.9 4.4 19

 20 - Net capital transfers (2) -19.4 -22.9 -26.6 -32.1 -32.2 -35.3 -37.1 -28.5 -10.8 -8.6 20

 21 = Gross saving less net capital transfers -19.1 70.7 180.6 298.1 365.9 474.1 265.6 -70.9 -211.9 -180.9 21

 22 Gross investment 47.2 96.9 231.5 331.5 410.0 543.7 322.2 -82.0 -278.2 -135.5 22

 23 Fixed investment 307.7 320.0 329.5 341.4 368.5 390.3 413.6 443.6 465.3 488.5 23

 24 Nonproduced nonfinancial assets -1.4 1.2 -3.0 1.6 7.4 8.0 8.7 10.9 10.5 10.5 24

 25 Net lending (+) or net borrowing (-) -259.2 -224.3 -95.0 -11.5 34.2 145.5 -100.1 -536.5 -754.0 -634.5 25

 26 Net acquisition of financial assets 41.1 73.0 108.5 99.2 150.8 0.6 135.4 57.1 73.2 134.0 26

 27 U.S. official reserve assets 6.4 -2.9 2.5 6.0 -7.1 -0.7 4.6 3.4 -1.8 -3.1 27

 28 Checkable deposits and currency 3.4 5.4 3.8 -20.6 70.1 -64.9 45.1 -12.0 16.3 -34.5 28

 29 Time and savings deposits 6.9 11.9 6.8 16.1 14.7 11.7 16.2 25.9 -5.4 7.9 29

 30 Money market fund shares 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 4.8 12.8 30

 31 Security repurchase agreements -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 1.6 7.2 31

 32 Credit market instruments -35.9 7.8 24.0 73.7 84.1 72.9 79.2 67.3 17.8 70.0 32

 33 Open market paper 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 -0.7 2.9 33

 34 Agency- and GSE-backed securities (3) -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 11.9 37.1 34

 35 Municipal securities -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.4 1.1 35

 36 Corporate and foreign bonds 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 3.8 11.9 36

 37 Mortgages -10.2 -3.4 -0.9 5.2 4.4 -2.1 -1.9 -4.8 2.4 16.6 37

 38 Consumer credit 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 38

 39 Other loans and advances (4) -13.6 7.5 0.8 -2.6 -5.4 -3.1 -7.9 -1.2 -1.9 -3.4 39

 40 Corporate equities 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -8.0 5.4 40

 41 Mutual fund shares -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -1.7 3.5 41

 42 Trade receivables 4.5 6.5 3.1 8.5 13.3 10.2 13.3 -0.7 17.2 19.0 42

 43 Taxes receivable -7.0 2.0 -6.1 -4.3 11.1 -11.4 -6.8 -1.2 35.2 36.1 43

 44 Miscellaneous assets 52.4 -5.1 68.6 6.6 -7.7 -17.0 -13.1 -23.1 -2.9 9.9 44

 45 Net increase in liabilities 300.2 297.3 203.6 110.7 116.6 -144.9 235.5 593.6 827.1 768.5 45

 46 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 47

 48 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 48

 49 Credit market instruments 163.7 162.0 86.4 -27.4 -56.1 -284.8 81.3 375.2 509.5 497.1 49

 50 U.S. savings securities 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 50

 51 Treasury bills and other Treasury securities (4) 218.1 177.3 41.4 -96.2 -94.6 -298.7 -29.2 226.3 382.5 318.6 51

 52 Budget agency securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 52

 53 Municipal securities -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 178.5 53

 54 Multifamily residential mortgages 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Trade payables 12.7 19.3 11.3 13.2 23.0 30.7 30.2 29.3 100.5 45.4 55

 56 Insurance reserves 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 56

 57 Miscellaneous liabilities (5) 119.9 115.2 104.2 123.0 150.3 109.5 121.3 186.5 215.5 224.3 57

 58 Discrepancy -66.3 -26.2 -51.0 -33.4 -44.1 -69.6 -56.6 11.2 66.3 -45.4 58

 Memo:

 59 Net govt. saving less fixed investment (6) -580.1 -510.9 -419.0 -323.3 -292.6 -223.8 -464.5 -835.0 -989.5 -996.0 59

 60 Adjustment between NIPA and FOF (7) 320.9 286.6 324.0 311.8 326.8 369.3 364.4 298.4 235.6 361.6 60

 61 Items to be financed (8) -259.2 -224.3 -95.0 -11.5 34.2 145.5 -100.1 -536.5 -754.0 -634.5 61

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

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

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

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

(4) Excludes transactions with state and local governments.

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

 and foreign service retirement and disability fund.

(6) Line 16 less line 23.

(7) Line 17 less the sum of lines 18, 19, 20, 24, and 58.

(8) Line 59 plus line 60.
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120 Historical Annuals, 1995-2004, September 18, 2014

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1253.5 1411.7 1552.6 1698.8 1903.7 1911.8 2044.3 2088.2 2162.0 2283.5 1

 2 U.S. official reserve assets 53.8 44.9 42.0 51.0 44.5 41.1 43.2 51.0 55.0 54.3 2

 3 Checkable deposits and currency 60.9 71.4 79.1 56.8 125.4 61.9 108.5 94.4 108.0 72.5 3

 4 Time and savings deposits 62.7 74.6 81.3 97.3 112.0 123.7 139.9 165.7 160.4 168.2 4

 5 Money market fund shares 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 63.5 76.3 5

 6 Security repurchase agreements 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 117.2 124.3 6

 7 Credit market instruments 536.7 544.6 568.7 642.6 759.8 831.5 910.8 978.1 995.9 1065.9 7

 8 Open market paper 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 150.6 153.4 8

 9 Agency- and GSE-backed securities (1) 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 340.6 377.7 9

 10 Municipal securities 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.5 5.7 10

 11 Corporate and foreign bonds 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 108.0 119.9 11

 12 Mortgages 171.3 167.9 167.0 172.3 209.5 206.2 204.2 199.4 201.9 218.5 12

 13 Consumer credit 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 13

 14 Other loans and advances (2) 121.2 128.8 129.7 127.3 122.1 118.9 111.0 109.8 107.9 104.6 14

 15 Corporate equities 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 93.4 107.6 15

 16 Mutual fund shares 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 29.4 35.8 16

 17 Trade receivables 100.4 106.9 110.0 118.5 127.8 138.0 151.3 150.6 167.8 186.8 17

 18 Taxes receivable 55.0 130.3 132.7 131.3 139.5 153.1 156.8 165.0 168.8 179.2 18

 19 Miscellaneous assets 196.3 191.2 259.8 266.4 258.7 241.8 228.7 205.6 202.7 212.5 19

 20 Total liabilities 6368.1 6525.5 6500.8 6449.0 6329.8 6329.2 6790.1 7742.4 8215.9 9714.8 20

 21 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 21

 22 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 22

 23 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 23

 24 Credit market instruments 4384.0 4546.0 4632.4 4605.1 4549.0 4264.1 4345.4 4720.7 5230.1 6428.2 24

 25 U.S. savings securities 185.0 187.0 186.5 186.6 186.4 184.8 190.4 194.9 203.9 204.5 25

 26 Treasury bills and other Treasury securities (3) 3133.7 3311.1 3352.5 3256.3 3161.7 2863.0 2833.9 3060.1 3442.7 3761.3 26

 27 Budget agency securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 27

 28 Municipal securities 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 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 29

 30 Trade payables 310.5 329.8 341.2 354.4 383.0 413.7 443.9 473.2 573.7 619.0 30

 31 Insurance reserves 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 31

 32 Miscellaneous liabilities (4) 1607.9 1583.5 1459.8 1420.0 1329.1 1583.3 1930.2 2474.9 2336.1 2589.5 32

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

(2) Excludes loans to state and local governments.

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

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

 and foreign service retirement and disability fund.
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Historical Annuals, 1995-2004, September 18, 2014 121

F.115.g Life Insurance Companies: General Accounts

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 145.5 125.4 213.7 63.8 78.9 66.0 163.0 230.9 201.4 187.4 1

 2 Checkable deposits and currency -0.5 -0.9 3.8 -2.3 -0.1 -0.4 22.2 -1.5 8.0 2.3 2

 3 Money market fund shares 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2.4 0.3 4.6 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 3.4 -2.5 1.4 4

 5 Credit market instruments 100.0 69.6 104.8 56.5 52.2 48.3 119.9 204.3 179.9 160.7 5

 6 Open market paper -7.3 2.9 17.5 2.0 1.5 -4.1 -16.5 2.8 -13.6 -6.2 6

 7 Treasury securities 1.0 -14.9 1.6 -11.6 -4.8 -5.3 3.5 26.0 -7.3 -3.1 7

 8 Agency- and GSE-backed securities 8.7 1.3 -3.0 -15.0 3.0 6.1 11.8 65.5 21.1 14.9 8

 9 Municipal securities -0.9 1.5 0.1 1.5 1.5 -0.5 -0.4 1.4 5.8 4.0 9

 10 Corporate and foreign bonds 90.7 79.2 85.7 70.9 38.7 43.7 112.1 99.7 163.1 136.2 10

 11 Other loans and advances 10.4 4.6 4.3 2.3 -3.6 4.1 3.0 2.3 0.1 3.5 11

 12 Mortgages -2.6 -5.0 -1.3 6.5 15.8 4.3 6.4 6.5 10.8 11.4 12

 13 Corporate equities 28.2 44.5 72.0 3.6 4.1 -2.1 -5.1 5.6 -1.9 1.8 13

 14 Mutual fund shares 3.9 4.5 7.2 0.1 -0.3 0.2 0.0 0.5 0.1 0.1 14

 15 U.S. direct investment abroad 0.4 0.8 1.8 0.7 1.5 1.1 1.3 2.9 0.9 1.8 15

 16 Miscellaneous assets 13.3 6.7 24.0 5.1 21.4 18.9 23.2 13.3 16.6 14.6 16

 17 Net increase in liabilities 118.9 92.1 186.0 49.7 62.6 59.2 158.2 214.0 174.0 151.0 17

 18 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 12.6 0.8 -1.2 18

 19 Corporate equity issues -3.6 -8.8 -4.0 -4.7 -6.0 -0.8 -0.9 -6.5 -3.9 -17.3 19

 20 Other loans and advances -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 20

 21 Life insurance reserves 44.8 43.8 57.6 30.0 33.3 29.0 43.9 41.3 36.7 22.6 21

 22 Pension entitlements (1) 72.4 36.7 79.8 -10.6 -5.0 38.4 112.9 147.5 59.1 97.2 22

 23 Taxes payable (net) 1.6 0.5 1.4 1.5 0.5 -0.4 -0.4 -7.4 1.9 3.1 23

 24 Foreign direct investment in U.S. 1.8 1.0 7.0 2.7 11.7 30.1 3.4 3.7 -5.2 20.8 24

 25 Miscellaneous liabilities 1.9 17.8 44.0 30.0 27.4 -36.5 -2.7 20.8 81.7 22.7 25

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 25).

F.115.s Life Insurance Companies: Separate Accounts

Billions of dollars

 1 Net acquisition of financial assets 0.0 0.0 0.0 123.1 95.1 137.5 87.7 48.8 57.0 76.8 1

 2 Checkable deposits and currency 0.0 0.0 0.0 -0.4 0.1 -0.1 9.6 -0.1 4.0 3.7 2

 3 Credit market instruments 0.0 0.0 0.0 20.4 1.7 9.6 7.8 24.5 -1.5 4.5 3

 4 Open market paper 0.0 0.0 0.0 5.5 0.5 -0.4 -2.9 1.2 -4.2 -4.4 4

 5 Treasury securities 0.0 0.0 0.0 -2.5 -4.4 0.7 -3.7 5.4 -1.8 4.9 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 5.3 4.0 4.9 6.3 11.9 -3.0 -6.7 6

 7 Municipal securities 0.0 0.0 0.0 0.2 0.1 -0.4 0.0 -0.2 0.3 -0.0 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 11.7 2.4 4.2 7.4 6.0 7.3 9.7 8

 9 Other loans and advances 0.0 0.0 0.0 -0.3 -0.9 -0.1 -0.1 -0.2 -0.2 0.0 9

 10 Mortgages 0.0 0.0 0.0 0.3 -0.1 0.8 0.7 0.5 0.2 1.0 10

 11 Corporate equities 0.0 0.0 0.0 78.9 112.7 113.6 75.3 47.1 47.4 49.7 11

 12 Mutual fund shares 0.0 0.0 0.0 9.3 10.3 5.3 2.1 2.2 0.4 12.6 12

 13 Miscellaneous assets 0.0 0.0 0.0 15.0 -29.8 9.1 -7.0 -24.9 6.7 6.3 13

 14 Net increase in liabilities 0.0 0.0 0.0 123.4 94.9 136.0 87.2 48.8 56.0 77.1 14

 15 Life insurance reserves 0.0 0.0 0.0 16.3 18.4 19.6 32.2 19.3 30.6 9.4 15

 16 Pension entitlements (1) 0.0 0.0 0.0 117.1 82.8 120.0 45.2 32.9 -8.1 50.1 16

 17 Miscellaneous liabilities 0.0 0.0 0.0 -9.9 -6.2 -3.7 9.7 -3.4 33.5 17.5 17

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 17).
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122 Historical Annuals, 1995-2004, September 18, 2014

L.115.g Life Insurance Companies: General Accounts

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 2063.6 2246.3 1787.8 1857.1 1940.9 2006.9 2165.7 2387.7 2603.7 2799.2 1

 2 Checkable deposits and currency 5.2 4.3 6.7 4.4 4.3 3.9 26.1 24.6 32.6 34.9 2

 3 Money market fund shares 9.1 9.2 9.3 9.5 9.6 9.8 9.9 12.3 12.6 17.2 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 4.7 2.2 3.6 4

 5 Credit market instruments 1587.5 1657.0 1616.6 1673.1 1729.4 1777.7 1897.6 2101.9 2281.8 2442.5 5

 6 Open market paper 45.5 48.4 48.4 50.4 52.3 48.2 31.6 34.5 20.8 14.7 6

 7 Treasury securities 108.1 93.2 61.5 49.9 45.7 40.4 44.0 70.0 62.7 59.5 7

 8 Agency- and GSE-backed securities 242.9 244.1 206.9 192.0 195.3 201.4 213.3 278.7 299.8 314.7 8

 9 Municipal securities 11.9 13.4 15.7 17.2 18.7 18.2 17.8 19.2 25.0 29.1 9

 10 Corporate and foreign bonds 867.0 946.2 976.6 1047.5 1087.5 1131.2 1243.4 1343.1 1506.2 1642.4 10

 11 Other loans and advances 99.0 103.6 105.4 107.7 104.1 108.2 111.2 113.5 113.6 117.1 11

 12 Mortgages 213.1 208.2 202.0 208.5 225.7 230.0 236.4 242.9 253.7 265.1 12

 13 Corporate equities 309.6 406.9 72.6 81.3 89.7 87.9 78.9 76.2 88.2 97.6 13

 14 Mutual fund shares 33.5 42.5 3.0 3.4 3.7 3.6 3.3 3.2 3.9 4.4 14

 15 U.S. direct investment abroad 5.6 6.6 8.6 11.1 9.4 10.4 8.6 12.2 14.4 16.6 15

 16 Miscellaneous assets 113.2 119.8 71.0 74.2 94.7 113.7 140.1 152.6 168.0 182.2 16

 17 Total liabilities 1953.9 2115.6 1622.2 1676.6 1745.2 1805.1 1964.2 2184.7 2362.6 2530.9 17

 18 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 13.9 14.7 13.5 18

 19 Other loans and advances 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 19

 20 Life insurance reserves 536.3 580.1 569.9 599.9 633.2 662.2 706.1 747.5 784.2 806.8 20

 21 Pension entitlements (1) 890.6 974.0 544.5 548.6 543.5 581.9 694.8 842.3 901.5 998.6 21

 22 Taxes payable (net) 12.0 12.5 -1.6 -0.1 0.5 0.1 -0.3 -7.7 -5.8 -2.7 22

 23 Foreign direct investment in U.S. 13.8 17.6 25.2 27.3 32.1 42.9 38.8 49.6 46.6 66.6 23

 24 Miscellaneous liabilities 500.7 529.8 482.5 498.4 532.7 515.5 520.3 533.9 613.4 637.0 24

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 24).

L.115.s Life Insurance Companies: Separate Accounts

Billions of dollars

 1 Total financial assets 0.0 0.0 727.1 912.4 1127.0 1128.7 1059.0 947.3 1169.3 1331.1 1

 2 Checkable deposits and currency 0.0 0.0 1.5 1.0 1.1 1.1 10.7 10.6 14.7 18.3 2

 3 Credit market instruments 0.0 0.0 134.6 154.9 156.6 166.2 173.9 198.4 196.9 201.4 3

 4 Open market paper 0.0 0.0 17.5 23.0 23.5 23.0 20.1 21.3 17.1 12.7 4

 5 Treasury securities 0.0 0.0 23.9 21.4 17.0 17.7 14.0 19.4 17.5 22.4 5

 6 Agency- and GSE-backed securities 0.0 0.0 19.7 25.1 29.0 33.9 40.2 52.2 49.1 42.5 6

 7 Municipal securities 0.0 0.0 1.0 1.2 1.3 0.9 0.9 0.7 1.0 1.0 7

 8 Corporate and foreign bonds 0.0 0.0 65.2 76.9 79.4 83.6 91.0 97.0 104.3 113.9 8

 9 Other loans and advances 0.0 0.0 2.5 2.1 1.3 1.2 1.0 0.9 0.6 0.6 9

 10 Mortgages 0.0 0.0 4.8 5.2 5.1 5.9 6.6 7.1 7.3 8.3 10

 11 Corporate equities 0.0 0.0 467.2 601.9 819.3 804.1 732.4 632.7 831.1 956.2 11

 12 Mutual fund shares 0.0 0.0 54.2 69.8 95.1 93.3 85.0 73.4 87.8 110.0 12

 13 Miscellaneous assets 0.0 0.0 69.7 84.7 55.0 64.0 57.0 32.1 38.8 45.1 13

 14 Total liabilities 0.0 0.0 737.5 923.1 1137.6 1137.7 1067.5 955.8 1176.8 1338.8 14

 15 Life insurance reserves 0.0 0.0 62.8 84.8 115.7 120.5 136.1 134.1 188.5 212.0 15

 16 Pension entitlements (1) 0.0 0.0 465.0 606.4 769.3 791.1 722.3 640.4 745.2 851.9 16

 17 Miscellaneous liabilities 0.0 0.0 209.7 231.9 252.5 226.1 209.1 181.2 243.0 275.0 17

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 17).
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Historical Annuals, 1995-2004, September 18, 2014 123

F.117.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets (1) 53.4 47.1 52.7 51.1 51.4 47.8 58.5 57.2 62.9 56.4 1

 2 Checkable deposits and currency 0.3 0.2 0.4 0.6 0.2 1.2 0.6 -0.2 0.1 0.1 2

 3 Time and savings deposits 8.3 14.3 16.8 16.4 -19.7 -23.7 -35.1 -5.5 2.3 -4.8 3

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

 5 Security repurchase agreements -0.4 3.0 0.1 0.0 -0.3 -9.0 -1.5 -0.6 1.1 0.4 5

 6 Credit market instruments 21.8 -11.2 37.3 -23.7 89.0 -123.7 -19.6 -36.5 73.3 -10.5 6

 7 Open market paper -0.4 3.0 0.1 0.1 0.4 -7.4 -0.3 -1.4 -0.9 -0.3 7

 8 Treasury securities 1.6 -5.1 3.2 -20.6 18.6 -11.7 -0.4 -12.7 14.3 -6.9 8

 9 Agency- and GSE-backed securities 3.2 -12.3 7.1 -18.2 30.4 -37.3 1.8 -17.9 35.6 7.7 9

 10 Corporate and foreign bonds 17.4 3.1 26.5 15.4 39.6 -66.1 -21.3 -4.7 24.3 -10.8 10

 11 Mortgages 0.1 0.0 0.5 -0.4 0.0 -1.3 0.6 0.2 -0.1 -0.1 11

 12 Corporate equities -60.2 -63.1 -105.3 -52.5 -128.9 85.1 39.6 -16.0 -34.9 -12.6 12

 13 Mutual fund shares 14.2 7.6 7.3 7.8 5.9 41.7 -17.6 20.2 -41.6 11.2 13

 14 Miscellaneous assets 69.4 96.4 96.2 102.4 105.2 76.2 92.1 95.8 62.7 72.6 14

 15 Unallocated insurance contracts (2) -10.7 2.7 -5.3 -2.5 -11.4 -0.0 -6.3 22.0 8.8 -15.3 15

 16 Contributions receivable 1.6 1.6 5.4 8.0 -7.5 -17.4 -25.8 -4.5 -0.0 -2.0 16

 17 Claims of pension fund on sponsor (3) 79.7 83.0 95.8 96.6 115.3 118.0 126.9 80.8 56.6 84.3 17

 18 Other -1.3 9.0 0.2 0.3 8.9 -24.4 -2.8 -2.6 -2.6 5.5 18

 19 Net increase in pension entitlements (liabilities) (4) 53.4 47.2 52.7 51.1 51.5 47.9 58.5 57.2 62.9 56.6 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

F.117.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 36.2 44.1 44.4 103.1 21.3 53.4 47.1 28.5 133.8 138.5 1

 2 Checkable deposits and currency 0.6 0.5 1.0 -1.4 1.1 2.1 -1.4 0.5 0.1 0.0 2

 3 Time and savings deposits -0.2 -5.5 -5.8 13.3 -19.5 0.9 -1.3 1.6 0.7 0.0 3

 4 Money market fund shares 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 4

 5 Security repurchase agreements 0.7 1.9 1.1 1.1 2.3 3.9 -7.4 2.0 0.3 0.1 5

 6 Credit market instruments -5.1 3.5 6.8 14.7 14.9 0.7 -17.5 29.6 -1.3 9.9 6

 7 Open market paper 1.0 2.4 1.3 2.0 3.8 2.7 -7.7 3.4 -0.9 0.7 7

 8 Treasury securities -2.0 0.0 -1.2 7.2 -1.8 2.1 -6.6 9.6 -0.6 2.5 8

 9 Agency- and GSE-backed securities -1.4 0.6 -0.9 0.5 7.6 5.0 1.1 -0.1 3.3 3.6 9

 10 Corporate and foreign bonds -3.3 -0.1 7.3 4.8 3.5 -10.6 -1.5 16.3 -3.1 3.3 10

 11 Mortgages 0.7 0.7 0.3 0.2 1.8 1.5 -2.8 0.4 -0.0 -0.1 11

 12 Corporate equities -30.4 -28.2 -46.5 21.8 -49.5 -21.5 65.9 -47.6 31.5 33.9 12

 13 Mutual fund shares 54.4 44.0 58.0 53.7 59.7 65.2 60.9 55.8 57.6 75.6 13

 14 Miscellaneous assets 9.8 16.6 16.4 -2.3 0.3 -2.2 -46.0 -22.7 45.2 18.2 14

 15 Unallocated insurance contracts (2) -1.4 2.1 3.6 -12.4 0.2 -22.1 -6.0 -33.5 45.5 21.2 15

 16 Contributions receivable 3.8 3.8 3.0 4.8 -10.8 -1.7 1.2 6.0 -0.1 -1.1 16

 17 Other 7.4 10.8 9.8 5.2 10.9 21.6 -41.2 4.7 -0.2 -1.8 17

 18 Net increase in pension entitlements (liabilities) 36.2 44.1 44.4 103.1 21.3 53.4 47.1 28.5 133.8 138.5 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

F.226.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: 122.2 132.8 151.8 191.5 219.7 228.6 169.9 174.8 160.4 175.9 1

 2 U.S.-chartered depository institutions 4.5 -3.2 -5.9 -5.7 -6.4 6.6 1.3 4.7 1.5 0.7 2

 3 Credit unions 1.2 0.9 1.2 0.3 0.9 0.4 3.2 3.4 3.5 0.9 3

 4 Life insurance companies 11.2 10.3 47.5 24.6 40.8 19.5 26.6 82.2 5.2 -1.2 4

 5 Money market mutual funds 14.0 16.0 -2.0 25.0 18.0 5.0 17.0 9.0 -13.0 -15.0 5

 6 Mutual funds 63.0 59.3 94.2 90.6 88.5 56.7 38.0 18.9 108.9 81.8 6

 7 Other self-directed accounts 28.2 49.4 16.8 56.7 77.9 140.3 83.8 56.6 54.2 108.6 7

(1) Assets of the household sector (F.100). IRA assets are not included in pension entitlements (table F.226), except for those at life insurance companies. Figures for depositories (lines 2 and 3)

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 4) and are excluded from the mutual fund sector (line 6) and from the money market fund sector (line 5).
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124 Historical Annuals, 1995-2004, September 18, 2014

L.117.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (1) 1371.9 1430.2 1489.0 1610.0 1698.0 1785.5 1922.0 1979.1 2022.8 2166.5 1

 2 Checkable deposits and currency 2.1 2.2 2.6 3.2 3.4 4.7 5.3 5.1 5.1 5.2 2

 3 Time and savings deposits 75.4 89.7 106.4 122.9 103.2 79.5 44.3 38.8 41.1 36.3 3

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

 5 Security repurchase agreements 11.2 14.2 14.2 14.3 14.0 4.9 3.5 2.8 3.9 4.4 5

 6 Credit market instruments 460.1 448.9 486.3 462.6 551.6 427.9 408.3 371.8 445.1 434.7 6

 7 Open market paper 11.2 14.2 14.2 14.4 14.8 7.4 7.1 5.7 4.8 4.5 7

 8 Treasury securities 79.7 74.7 77.9 57.2 75.9 64.2 63.9 51.2 65.5 58.6 8

 9 Agency- and GSE-backed securities 185.6 173.3 180.4 162.2 192.6 155.3 157.1 139.2 174.8 182.5 9

 10 Corporate and foreign bonds 178.8 181.9 208.4 223.8 263.3 197.2 175.9 171.3 195.6 184.7 10

 11 Mortgages 4.8 4.9 5.4 5.0 5.0 3.7 4.4 4.6 4.5 4.4 11

 12 Corporate equities 688.8 764.3 844.0 949.1 1006.3 1076.0 1060.7 917.6 1170.8 1294.2 12

 13 Mutual fund shares 68.5 91.0 122.3 156.6 199.0 236.4 180.8 188.8 197.4 233.6 13

 14 Miscellaneous assets 65.9 19.9 -86.8 -98.6 -179.4 -43.8 219.1 454.1 159.3 158.1 14

 15 Unallocated insurance contracts (2) 80.7 89.9 92.0 95.1 91.9 86.1 72.4 86.4 105.7 95.0 15

 16 Contributions receivable 45.8 47.5 52.8 60.9 53.4 36.0 10.2 5.7 5.7 3.7 16

 17 Claims of pension fund on sponsor (3) -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 17

 18 Other 33.5 42.5 42.8 43.1 52.0 27.6 24.8 22.2 19.6 25.2 18

 19 Pension entitlements (liabilities) (4) 1412.5 1474.3 1536.0 1664.2 1755.6 1826.0 1968.4 2021.1 2064.3 2207.1 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.117.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 1389.5 1582.5 1951.4 2241.0 2531.1 2500.4 2254.9 2054.8 2551.2 2822.1 1

 2 Checkable deposits and currency 2.8 3.3 4.3 2.9 4.0 6.1 4.7 5.1 5.2 5.3 2

 3 Time and savings deposits 34.6 29.1 23.3 36.6 17.1 18.0 16.7 18.3 19.0 19.0 3

 4 Money market fund shares 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 4

 5 Security repurchase agreements 11.3 13.2 14.3 15.4 17.7 21.6 14.2 16.2 16.5 16.6 5

 6 Credit market instruments 146.0 149.5 156.3 171.0 185.9 186.6 169.1 198.8 197.5 207.4 6

 7 Open market paper 12.4 14.8 16.1 18.1 21.9 24.5 16.9 20.3 19.4 20.1 7

 8 Treasury securities 40.7 40.7 39.5 46.7 44.9 47.0 40.4 49.9 49.4 51.9 8

 9 Agency- and GSE-backed securities 27.3 27.8 26.9 27.5 35.1 40.1 41.2 41.1 44.4 48.0 9

 10 Corporate and foreign bonds 61.8 61.7 69.0 73.8 77.3 66.8 65.2 81.6 78.5 81.8 10

 11 Mortgages 3.8 4.4 4.7 4.9 6.7 8.2 5.4 5.8 5.8 5.6 11

 12 Corporate equities 528.8 592.8 700.8 849.0 875.1 816.2 782.4 620.3 857.1 967.1 12

 13 Mutual fund shares 288.5 381.6 565.5 668.5 904.3 938.3 823.8 780.1 979.1 1102.2 13

 14 Miscellaneous assets 339.7 363.9 424.5 432.8 450.1 432.5 369.1 331.6 392.6 419.7 14

 15 Unallocated insurance contracts (2) 241.4 251.1 299.0 297.7 315.0 277.5 254.0 205.8 267.2 297.2 15

 16 Contributions receivable 37.9 41.7 44.7 49.6 38.7 37.0 38.2 44.2 44.1 43.0 16

 17 Other 60.3 71.1 80.8 85.5 96.4 118.0 76.8 81.5 81.3 79.5 17

 18 Pension entitlements (liabilities) 1389.5 1582.5 1951.4 2241.0 2531.1 2500.4 2254.9 2054.8 2551.2 2822.1 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

L.226.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: 1288.0 1467.0 1728.0 2150.0 2651.0 2629.0 2619.0 2532.0 2993.0 3299.0 1

 2 U.S.-chartered depository institutions 228.1 224.9 219.0 213.2 206.8 213.4 214.7 219.4 220.9 221.7 2

 3 Credit unions 33.0 33.8 35.0 35.3 36.2 36.7 39.9 43.3 46.8 47.7 3

 4 Life insurance companies 94.3 110.3 161.0 190.1 245.5 245.5 251.0 308.3 338.4 348.1 4

 5 Money market mutual funds 77.0 93.0 91.0 116.0 134.0 139.0 156.0 165.0 152.0 137.0 5

 6 Mutual funds 385.3 497.0 674.0 844.0 1108.0 1082.0 998.0 857.0 1142.0 1343.0 6

 7 Other self-directed accounts 470.4 507.9 548.0 751.3 920.5 912.4 959.4 939.0 1092.9 1201.6 7

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension entitlements (table L.226), except for those at life insurance companies. Figures for depositories

 (lines 2 and 3) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 4) and are excluded from the mutual fund sector (line 6) and from the money market fund sector (line 5).
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Historical Annuals, 1995-2004, September 18, 2014 125

F.118.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets (1) 103.5 109.8 114.7 121.4 128.4 135.4 142.7 149.0 158.8 177.6 1

 2 Checkable deposits and currency -2.5 3.3 -2.2 4.7 -0.7 0.7 1.5 1.5 0.8 -0.9 2

 3 Time and savings deposits 2.0 -2.2 0.1 -0.4 -0.3 -0.1 0.2 -0.1 -0.9 4.4 3

 4 Money market fund shares 0.9 1.7 2.1 0.3 1.8 1.4 2.2 0.1 -2.1 6.5 4

 5 Security repurchase agreements 3.7 -3.3 0.4 8.9 2.8 -0.5 -5.9 -6.9 -3.6 -7.6 5

 6 Credit market instruments 31.1 28.6 59.9 63.2 45.5 36.3 -53.8 -50.7 18.8 21.9 6

 7 Open market paper 3.7 -3.3 0.4 8.9 2.8 6.9 4.0 -3.2 -6.4 -9.7 7

 8 Treasury securities -7.4 4.6 6.2 -6.4 -13.8 -19.8 -24.0 3.8 -10.3 0.8 8

 9 Agency- and GSE-backed securities 23.2 5.5 18.4 19.1 22.9 49.9 1.9 11.8 42.5 -3.4 9

 10 Municipal securities 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -1.9 10

 11 Corporate and foreign bonds 10.1 22.2 33.1 35.1 30.4 4.2 -34.6 -62.4 -9.9 41.4 11

 12 Mortgages 0.7 0.8 0.9 4.8 3.3 -3.6 -1.1 0.1 -0.7 -5.4 12

 13 Corporate equities 18.2 18.2 9.4 -28.2 -6.2 11.6 115.1 85.2 35.4 5.1 13

 14 Mutual fund shares 10.7 2.2 8.5 12.0 2.1 49.9 25.8 22.2 -9.5 -0.6 14

 15 Miscellaneous assets 39.5 61.3 36.4 60.9 83.3 36.1 57.6 97.7 119.8 148.8 15

 16 Claims of pension fund on sponsor (2) 39.3 60.6 36.4 60.7 82.0 35.0 55.8 97.3 118.9 124.0 16

 17 Other 0.2 0.7 0.1 0.2 1.3 1.1 1.8 0.4 0.9 24.8 17

 18 Pension entitlements (liabilities) (3) 103.6 109.8 114.7 121.5 128.4 135.5 142.7 149.0 158.8 177.7 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

F.118.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 1.5 1.5 26.6 27.5 22.1 -6.4 8.3 5.0 22.0 22.3 1

 2 Checkable deposits and currency -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.1 -0.0 -0.0 2

 3 Time and savings deposits 0.0 0.1 0.0 0.1 -0.1 -0.1 0.1 0.1 0.5 -0.2 3

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

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 0.1 1.6 0.7 3.2 4.7 -2.8 3.8 3.0 -1.0 2.5 6

 7 Open market paper 0.3 0.6 0.3 1.6 2.6 -2.0 -0.4 2.9 -2.5 1.0 7

 8 Treasury securities 0.1 0.3 0.0 0.4 -0.1 -0.5 0.9 2.5 -0.9 0.8 8

 9 Agency- and GSE-backed securities -0.1 0.4 -0.0 0.8 2.3 -0.9 3.7 -2.4 2.5 0.7 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds -0.1 0.4 0.3 0.4 -0.0 0.6 -0.4 -0.1 -0.0 0.0 11

 12 Corporate equities 1.2 -0.2 3.8 0.1 -5.6 1.9 2.9 6.8 -2.0 4.2 12

 13 Mutual fund shares 0.0 0.0 6.3 7.2 4.9 0.7 6.0 5.8 5.5 3.7 13

 14 Miscellaneous assets 0.2 0.0 15.7 17.0 18.2 -6.1 -4.5 -10.8 19.0 12.0 14

 15 Unallocated insurance contracts (2) 0.0 0.0 15.8 16.6 18.1 -5.2 -5.2 -9.4 19.0 12.0 15

 16 Other 0.2 0.0 -0.1 0.4 0.1 -0.9 0.7 -1.4 -0.0 0.0 16

 17 Pension entitlements (liabilities) 1.5 1.5 26.6 27.5 22.1 -6.4 8.3 5.0 22.0 22.3 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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126 Historical Annuals, 1995-2004, September 18, 2014

L.118.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (1) 1355.5 1454.9 1549.7 1676.5 1809.8 1959.0 2145.1 2324.7 2505.5 2894.8 1

 2 Checkable deposits and currency 4.2 7.5 5.3 10.0 9.2 9.9 11.4 12.9 13.7 12.9 2

 3 Time and savings deposits 4.5 2.3 2.4 2.0 1.7 1.6 1.8 1.7 0.8 5.3 3

 4 Money market fund shares 5.9 7.6 9.6 9.9 11.8 13.2 15.4 15.5 13.4 19.9 4

 5 Security repurchase agreements 31.5 28.2 28.6 37.5 40.4 39.8 34.0 27.1 23.4 15.8 5

 6 Credit market instruments 509.8 538.4 598.3 661.5 707.0 743.2 689.4 638.7 657.5 679.4 6

 7 Open market paper 31.5 28.2 28.6 37.5 40.4 47.3 51.3 48.0 41.6 31.9 7

 8 Treasury securities 208.2 212.8 219.0 212.6 198.8 179.1 155.1 158.9 148.6 149.4 8

 9 Agency- and GSE-backed securities 63.1 68.6 87.0 106.1 129.0 178.9 180.7 192.6 235.1 231.6 9

 10 Municipal securities 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 2.5 10

 11 Corporate and foreign bonds 189.2 211.4 244.5 279.6 310.0 314.2 279.7 217.3 207.4 248.8 11

 12 Mortgages 15.9 16.7 17.6 22.4 25.7 22.1 21.0 21.1 20.4 15.0 12

 13 Corporate equities 703.5 846.6 1051.3 1188.1 1407.7 1298.7 1260.4 1056.8 1421.0 1563.1 13

 14 Mutual fund shares 62.9 73.2 93.4 115.9 140.9 178.3 184.3 167.4 207.9 251.7 14

 15 Miscellaneous assets 33.3 -48.8 -239.3 -348.4 -508.8 -325.8 -51.5 404.6 167.7 346.6 15

 16 Claims of pension fund on sponsor (2) 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 310.5 16

 17 Other 4.8 5.5 5.6 5.8 7.1 8.2 10.0 10.4 11.3 36.1 17

 18 Pension entitlements (liabilities) (3) 1382.9 1484.3 1580.4 1709.5 1850.8 2006.4 2189.0 2367.9 2551.6 2940.1 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

L.118.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 43.2 51.7 212.9 267.8 330.1 308.6 286.4 250.8 317.2 358.3 1

 2 Checkable deposits and currency 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.1 0.1 0.1 2

 3 Time and savings deposits 0.2 0.3 0.5 0.6 0.5 0.4 0.5 0.5 1.0 0.8 3

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

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 2.3 3.9 6.4 9.5 14.2 11.4 15.2 18.2 17.2 19.7 6

 7 Open market paper 1.3 1.8 3.0 4.6 7.2 5.2 4.8 7.8 5.2 6.2 7

 8 Treasury securities 0.3 0.6 0.9 1.3 1.1 0.7 1.6 4.1 3.2 4.0 8

 9 Agency- and GSE-backed securities 0.2 0.6 0.9 1.7 4.0 3.0 6.7 4.3 6.8 7.5 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.5 0.8 1.6 2.0 1.9 2.5 2.1 2.0 2.0 2.0 11

 12 Corporate equities 39.2 46.0 89.0 109.5 128.4 121.9 103.5 83.2 108.8 121.2 12

 13 Mutual fund shares 0.0 0.0 47.4 61.5 80.5 76.0 74.7 69.0 89.3 102.7 13

 14 Miscellaneous assets 1.5 1.5 69.6 86.7 106.5 98.8 92.5 79.8 100.9 113.9 14

 15 Unallocated insurance contracts (2) 0.0 0.0 67.5 84.9 104.7 97.8 90.8 79.5 100.6 113.6 15

 16 Other 1.5 1.5 2.1 1.8 1.8 0.9 1.6 0.3 0.3 0.3 16

 17 Pension entitlements (liabilities) 43.2 51.7 212.9 267.8 330.1 308.6 286.4 250.8 317.2 358.3 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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Historical Annuals, 1995-2004, September 18, 2014 127

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets (2) 67.2 66.8 67.5 69.4 71.2 72.5 73.3 84.0 89.8 81.3 1

 2 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.1 4.0 0.3 2

 3 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.2 1.3 -0.7 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.2 1.6 0.5 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 1.1 0.5 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.5 6.2 -0.9 6

 7 Miscellaneous assets 67.2 66.8 67.5 69.4 71.2 72.5 73.3 74.3 79.5 81.9 7

 8 Nonmarketable Treasury securities (3) 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 8

 9 Claims of pension fund on sponsor (4) 46.4 11.8 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 9

 10 Pension entitlements (liabilities) (5) 67.2 66.8 67.5 69.4 71.2 72.5 73.3 84.0 89.8 81.3 10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and

 disability fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 6.1 6.8 6.3 6.7 7.0 7.3 9.0 11.2 13.4 14.3 1

 2 Credit market instruments -5.4 11.5 1.9 2.7 2.6 2.1 9.6 10.1 2.9 4.8 2

 3 Treasury securities (2) -5.6 11.3 1.8 2.4 2.7 2.0 7.0 8.6 4.0 5.3 3

 4 Agency- and GSE-backed securities 0.1 0.1 0.1 0.2 -0.0 0.1 1.6 0.9 -0.7 -0.4 4

 5 Corporate and foreign bonds 0.1 0.1 0.0 0.1 -0.0 0.0 0.9 0.5 -0.4 -0.2 5

 6 Corporate equities 2.6 4.2 4.4 4.0 4.4 5.2 -0.6 1.1 10.5 9.5 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 8.9 -8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Pension entitlements (liabilities) 6.1 6.8 6.3 6.7 7.0 7.3 9.0 11.2 13.4 14.3 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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128 Historical Annuals, 1995-2004, September 18, 2014

L.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets (2) 1563.9 1630.6 1698.0 1767.5 1838.5 1910.9 1985.5 2069.1 2163.1 2246.4 1

 2 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.1 7.2 7.5 2

 3 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.2 2.5 1.8 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.2 2.8 3.3 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 1.9 2.4 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.7 17.0 17.8 6

 7 Miscellaneous assets 1563.9 1630.6 1698.0 1767.5 1838.5 1910.9 1985.5 2059.3 2138.9 2221.1 7

 8 Nonmarketable Treasury securities (3) 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 8

 9 Claims of pension fund on sponsor (4) 1057.6 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 9

 10 Pension entitlements (liabilities) (5) 1563.9 1630.6 1698.0 1767.5 1838.5 1910.9 1985.5 2069.1 2163.1 2246.4 10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and

 disability fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

L.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 34.9 44.8 57.9 73.6 90.2 91.9 94.0 94.1 120.0 142.5 1

 2 Credit market instruments 14.6 26.0 27.9 30.7 33.3 35.4 44.9 55.0 57.9 62.7 2

 3 Treasury securities (2) 13.5 24.8 26.6 29.0 31.7 33.6 40.7 49.3 53.3 58.6 3

 4 Agency- and GSE-backed securities 0.6 0.7 0.7 1.0 0.9 1.0 2.6 3.6 2.9 2.5 4

 5 Corporate and foreign bonds 0.5 0.5 0.6 0.7 0.7 0.7 1.6 2.2 1.8 1.6 5

 6 Corporate equities 11.5 18.8 29.9 43.0 56.9 56.6 49.1 39.0 62.1 79.9 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Pension entitlements (liabilities) 34.9 44.8 57.9 73.6 90.2 91.9 94.0 94.1 120.0 142.5 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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Historical Annuals, 1995-2004, September 18, 2014 129

F.127.e Equity Real Estate Investment Trusts (REITs)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 1.5 3.0 19.5 -0.9 106.0 0.6 -0.1 0.9 8.0 9.8 1

 2 Checkable deposits and currency 0.0 1.9 0.9 0.7 0.2 0.1 1.0 -0.3 3.5 0.6 2

 3 Credit market instruments -0.4 -0.5 2.1 1.6 0.6 -1.0 -1.0 -0.9 0.8 0.9 3

 4 Corporate and foreign bonds 0.1 0.2 0.3 -0.1 0.2 0.4 -0.5 -0.2 0.3 0.3 4

 5 Mortgages -0.5 -0.7 1.8 1.6 0.4 -1.4 -0.6 -0.7 0.5 0.6 5

 6 Home 0.0 0.0 0.1 0.0 -0.2 0.0 -0.0 -0.0 -0.0 -0.0 6

 7 Multifamily residential -0.2 -0.1 0.3 0.0 -0.0 -0.0 -0.2 -0.2 0.0 -0.1 7

 8 Commercial -0.3 -0.6 1.4 1.6 0.6 -1.4 -0.4 -0.5 0.5 0.7 8

 9 Miscellaneous assets 1.9 1.6 16.5 -3.1 105.3 1.6 -0.1 2.2 3.7 8.2 9

 10 Net increase in liabilities 6.3 15.3 53.1 59.2 -0.0 6.2 3.5 21.7 14.6 48.3 10

 11 Credit market instruments 4.6 11.4 35.8 56.8 2.5 4.6 4.1 19.0 13.8 41.9 11

 12 Corporate bonds 0.2 1.0 11.7 17.2 4.7 4.2 5.1 7.1 5.2 14.2 12

 13 Depository institution loans n.e.c. -0.9 2.5 9.2 14.9 -9.4 -4.3 -3.2 0.7 -0.4 2.2 13

 14 Mortgages 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 14

 15 Multifamily residential 1.8 2.6 4.9 8.2 2.1 3.1 1.5 1.7 0.5 3.6 15

 16 Commercial 3.6 5.3 10.0 16.6 5.1 1.7 0.7 9.5 8.4 21.9 16

 17 Miscellaneous liabilities 1.8 3.9 17.3 2.4 -2.5 1.6 -0.6 2.6 0.8 6.3 17

F.127.m Mortgage Real Estate Investment Trusts (REITs)

Billions of dollars

 1 Net acquisition of financial assets 0.8 1.9 6.6 7.3 -106.1 -4.0 11.0 23.8 26.4 92.0 1

 2 Checkable deposits and currency 0.0 0.3 0.1 0.1 0.1 -0.1 0.1 0.2 0.2 2.4 2

 3 Credit market instruments 1.7 4.9 18.1 -6.7 0.3 -4.2 10.1 23.2 25.6 86.7 3

 4 Agency- and GSE-backed securities -0.2 3.2 9.0 -8.1 -1.8 0.6 8.3 11.5 -2.9 15.8 4

 5 Corporate and foreign bonds 0.7 1.2 1.8 -0.3 2.9 -0.2 0.9 0.8 8.2 16.8 5

 6 Mortgages 1.3 0.5 7.2 1.8 -0.8 -4.6 1.0 10.9 20.2 54.2 6

 7 Home 1.8 1.1 5.8 0.8 -1.0 -3.5 0.8 10.1 18.5 51.1 7

 8 Multifamily residential -0.4 -0.2 0.6 0.0 0.2 -0.5 -0.1 0.0 0.2 0.2 8

 9 Commercial -0.2 -0.4 0.8 0.9 0.0 -0.6 0.3 0.7 1.5 2.9 9

 10 Miscellaneous assets -0.9 -3.3 -11.6 13.9 -106.6 0.3 0.7 0.5 0.6 2.9 10

 11 Net increase in liabilities 0.8 1.9 6.6 7.3 12.7 -4.1 9.6 22.7 24.7 83.2 11

 12 Security repurchase agreements 1.2 2.8 11.2 -9.8 -0.3 -2.5 9.2 14.6 5.5 28.7 12

 13 Credit market instruments -0.0 0.5 3.8 5.9 5.8 -1.8 -0.3 7.9 18.6 52.6 13

 14 Open market paper -0.0 0.0 0.0 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 0.0 0.3 3.1 4.6 3.7 -1.3 -0.5 6.9 18.6 47.7 15

 16 Depository institution loans n.e.c. -0.1 0.2 0.7 1.1 2.3 -0.5 0.2 1.0 -0.0 4.9 16

 17 Miscellaneous liabilities -0.4 -1.4 -8.5 11.2 7.2 0.2 0.7 0.2 0.7 1.9 17

 Memo:

 18 Securitized assets included above -1.3 -0.3 3.7 2.9 -2.4 -1.5 -3.3 8.0 15.6 59.6 18

 19 Agency- and GSE-backed securities -2.3 0.3 0.4 0.1 -1.3 -0.2 -3.1 -0.3 0.0 0.0 19

 20 Home mortgages 0.9 -0.8 3.1 1.8 -2.0 -0.2 0.1 7.8 15.7 57.9 20

 21 Multifamily residential mortgages 0.0 0.3 0.2 0.4 -0.4 -0.2 -0.0 -0.0 -0.0 -0.0 21

 22 Commercial mortgages 0.0 0.0 0.0 0.6 1.3 -0.9 -0.2 0.6 -0.1 1.7 22
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L.127.e Equity Real Estate Investment Trusts (REITs)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 26.5 29.5 49.0 48.1 29.2 29.8 29.7 30.6 38.6 48.4 1

 2 Checkable deposits and currency 0.0 1.9 2.9 3.5 3.7 3.8 4.8 4.5 8.1 8.7 2

 3 Credit market instruments 4.7 4.1 6.3 7.8 8.4 7.4 6.3 5.4 6.2 7.1 3

 4 Corporate and foreign bonds 0.4 0.6 0.9 0.9 1.0 1.4 1.0 0.8 1.0 1.4 4

 5 Mortgages 4.3 3.5 5.3 7.0 7.4 5.9 5.4 4.6 5.1 5.7 5

 6 Home 0.1 0.2 0.3 0.3 0.1 0.1 0.1 0.1 0.1 0.0 6

 7 Multifamily residential 0.6 0.4 0.8 0.8 0.7 0.7 0.5 0.3 0.3 0.3 7

 8 Commercial 3.6 2.9 4.3 5.9 6.5 5.1 4.7 4.2 4.7 5.4 8

 9 Miscellaneous assets 21.8 23.4 39.9 36.8 17.0 18.6 18.5 20.7 24.4 32.6 9

 10 Total liabilities 55.3 70.6 123.7 183.0 182.9 189.2 192.6 214.3 228.9 277.2 10

 11 Credit market instruments 41.0 52.4 88.2 145.0 147.5 152.2 156.3 175.3 189.1 231.0 11

 12 Corporate bonds 12.2 13.3 25.0 42.2 46.8 51.0 56.1 63.3 68.5 82.7 12

 13 Depository institution loans n.e.c. 4.7 7.2 16.4 31.3 21.9 17.6 14.4 15.1 14.7 17.0 13

 14 Mortgages 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 14

 15 Multifamily residential 7.9 10.5 15.4 23.6 14.6 17.6 19.1 20.8 21.3 24.9 15

 16 Commercial 16.1 21.4 31.4 48.0 64.3 65.9 66.6 76.1 84.5 106.5 16

 17 Miscellaneous liabilities 14.4 18.2 35.5 37.9 35.4 37.0 36.4 39.0 39.8 46.2 17

L.127.m Mortgage Real Estate Investment Trusts (REITs)

Billions of dollars

 1 Total financial assets 6.8 8.7 15.3 22.6 39.2 35.2 46.2 70.0 96.4 203.2 1

 2 Checkable deposits and currency 0.0 0.3 0.4 0.5 0.7 0.6 0.7 0.9 1.1 3.5 2

 3 Credit market instruments 21.3 26.2 44.3 37.6 35.7 31.5 41.7 64.8 90.4 192.0 3

 4 Agency- and GSE-backed securities 9.0 12.2 21.2 13.1 11.4 12.0 20.3 31.8 28.9 44.7 4

 5 Corporate and foreign bonds 2.5 3.7 5.6 5.2 8.1 7.9 8.8 9.6 17.8 34.6 5

 6 Mortgages 9.9 10.3 17.6 19.3 16.2 11.6 12.6 23.5 43.7 112.7 6

 7 Home 6.8 7.8 13.7 14.5 11.1 7.7 8.5 18.6 37.1 103.1 7

 8 Multifamily residential 1.0 0.8 1.3 1.4 1.6 1.0 0.9 1.0 1.2 1.3 8

 9 Commercial 2.1 1.7 2.5 3.5 3.5 2.9 3.2 3.9 5.4 8.3 9

 10 Miscellaneous assets -14.5 -17.8 -29.4 -15.6 2.8 3.1 3.8 4.3 4.9 7.7 10

 11 Total liabilities 6.8 8.7 15.3 22.6 33.0 28.9 38.4 61.2 85.9 184.0 11

 12 Security repurchase agreements 10.9 13.7 24.9 15.1 14.9 12.4 21.6 36.2 41.6 70.3 12

 13 Credit market instruments 3.6 4.1 7.9 13.8 17.2 15.4 15.1 23.1 41.6 109.1 13

 14 Open market paper 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 3.3 3.5 6.6 11.2 14.9 13.6 13.1 20.0 38.6 101.1 15

 16 Depository institution loans n.e.c. 0.4 0.5 1.2 2.4 2.3 1.8 2.0 3.0 3.0 8.0 16

 17 Miscellaneous liabilities -7.7 -9.1 -17.5 -6.3 0.9 1.1 1.8 1.9 2.6 4.6 17

 Memo:

 18 Securitized assets included above 7.6 7.4 11.1 13.9 11.5 10.0 6.7 14.8 30.3 89.9 18

 19 Agency- and GSE-backed securities 4.2 4.5 4.9 5.0 3.7 3.5 0.3 0.0 0.0 0.0 19

 20 Home mortgages 3.5 2.6 5.7 7.5 5.6 5.4 5.5 13.2 28.9 86.8 20

 21 Multifamily residential mortgages 0.0 0.3 0.4 0.8 0.4 0.1 0.1 0.1 0.1 0.1 21

 22 Commercial mortgages 0.0 0.0 0.0 0.6 2.0 1.1 0.8 1.4 1.3 3.1 22
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S.1.a Total Economy - Current Account

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross value added 7573.5 8043.6 8596.2 9149.3 9698.1 10384.2 10736.8 11050.3 11524.3 12283.5 1

 (income approach)

 2 Less: Consumption of fixed capital 1122.8 1176.0 1240.0 1310.3 1400.9 1514.2 1604.0 1662.1 1727.2 1831.7 2

 3 Equals: Net value added 6450.7 6867.6 7356.3 7839.1 8297.3 8870.0 9132.8 9388.2 9797.1 10451.8 3

 4 Compensation of employees (paid) 4206.7 4426.2 4719.1 5082.4 5417.5 5863.1 6053.8 6149.7 6372.7 6748.8 4

 5 Wages and salaries 3422.1 3620.6 3881.2 4186.2 4465.2 4832.4 4961.6 5004.2 5146.1 5431.2 5

 6 Employers’ social contributions 784.6 805.6 837.8 896.2 952.3 1030.7 1092.1 1145.5 1226.6 1317.6 6

 7 Taxes on production and imports less subsidies 523.1 545.5 577.8 603.1 628.4 662.7 669.0 721.2 758.9 817.6 7

 8 Operating surplus, net 1720.9 1895.9 2059.4 2153.6 2251.4 2344.1 2410.1 2517.3 2665.4 2885.5 8

 9 Plus: Income receipts from the rest of the world 229.8 246.4 280.1 286.8 321.4 382.7 325.3 315.8 356.1 451.4 9

10 Less: Income payments to the rest of the world 201.1 214.6 256.0 268.5 294.3 345.7 273.5 267.2 289.0 362.3 10

11 Equals: Net national income/Balance of primary incomes, net 6479.5 6899.4 7380.4 7857.3 8324.4 8907.0 9184.6 9436.8 9864.2 10540.9 11

12 Operating surplus, net 1720.9 1895.9 2059.4 2153.6 2251.4 2344.1 2410.1 2517.3 2665.4 2885.5 12

13 Compensation of employees (received) 4202.6 4422.1 4714.7 5077.8 5410.3 5856.6 6046.5 6141.9 6364.5 6739.5 13

14 Wages and salaries 3418.0 3616.5 3876.8 4181.6 4458.0 4825.9 4954.4 4996.4 5137.8 5421.9 14

15 Employers’ social contributions 784.6 805.6 837.8 896.2 952.3 1030.7 1092.1 1145.5 1226.6 1317.6 15

16 Taxes on production and imports, receivable 557.9 580.8 611.6 639.5 673.6 708.6 727.7 762.6 808.0 863.9 16

17 Subsidies paid -34.8 -35.2 -33.8 -36.4 -45.2 -45.8 -58.7 -41.4 -49.1 -46.4 17

18 Property income (received) 3327.3 3530.6 3803.4 4022.7 4192.1 4725.5 4694.5 4402.4 4425.3 4880.3 18

19 Interest 2317.7 2384.6 2551.0 2703.8 2796.9 3198.6 3125.8 2758.3 2661.6 2828.3 19

20 Distributed income of corporations 933.3 1067.0 1167.6 1246.5 1301.3 1397.5 1457.7 1518.4 1600.1 1842.3 20

21 Dividends 390.8 458.3 515.9 537.4 536.7 576.6 552.4 581.1 632.0 809.8 21

22 Withdrawals from income of quasi-corporations 542.5 608.7 651.7 709.1 764.5 820.9 905.3 937.4 968.1 1032.5 22

23 Reinvested earnings on U.S. direct investment abroad 68.8 70.3 75.5 63.5 84.8 116.9 96.1 112.6 149.0 192.5 23

24 Rents on land and natural resources 7.5 8.7 9.3 8.9 9.2 12.5 14.9 13.1 14.6 17.1 24

25 Less: Uses of property income (paid) 3294.4 3494.7 3774.9 3999.9 4157.8 4681.9 4635.5 4346.0 4350.0 4781.9 25

26 Interest 2377.8 2450.7 2630.1 2783.8 2884.6 3301.2 3237.2 2860.6 2752.9 2935.0 26

27 Distributed income of corporations 900.5 1026.6 1120.4 1204.2 1259.8 1368.2 1417.0 1470.5 1568.0 1779.9 27

28 Dividends 358.0 417.9 468.7 495.1 495.2 547.4 511.8 533.2 599.9 747.5 28

29 Withdrawals from income of quasi-corporations 542.5 608.7 651.7 709.1 764.5 820.9 905.3 937.4 968.1 1032.5 29

30 Reinvested earnings on foreign direct investment 8.6 8.7 15.2 3.0 4.3 -0.1 -33.7 1.8 14.5 49.8 30

31 Rents on land and natural resources 7.5 8.7 9.3 8.9 9.2 12.5 14.9 13.1 14.6 17.1 31

32 Net national income/Balance of primary incomes, net 6479.5 6899.4 7380.4 7857.3 8324.4 8907.0 9184.6 9436.8 9864.2 10540.9 32

33 Plus: Current taxes on income, wealth, etc. (received) 958.8 1060.8 1168.4 1271.3 1362.2 1494.3 1436.0 1239.2 1241.6 1347.9 33

34 Less: Current taxes on income, wealth, etc. (paid) 961.7 1063.4 1171.6 1274.8 1366.3 1497.4 1438.1 1242.7 1244.6 1352.1 34

35 Plus: Social benefits (received) 1395.7 1459.1 1520.0 1579.7 1652.2 1750.0 1878.3 2001.4 2099.8 2233.5 35

36 Less: Social contributions (paid) 1399.8 1463.9 1524.8 1584.8 1657.4 1755.1 1884.0 2007.3 2105.9 2239.7 36

37 Plus: Other current transfers (received) 250.7 270.0 275.6 301.0 333.6 366.2 404.8 424.0 456.8 468.2 37

38 Less: Other current transfers (paid) 287.7 312.1 319.0 352.4 381.8 423.5 469.1 487.7 527.6 554.3 38

39 Equals: Disposable income, net 6435.4 6849.9 7328.9 7797.3 8266.9 8841.6 9112.5 9363.8 9784.2 10444.5 39

40 Less: Final consumption expenditures 6128.7 6444.6 6785.3 7175.1 7664.6 8236.6 8648.2 9035.4 9521.1 10129.0 40

41 Equals: Net saving 306.8 405.3 543.6 622.1 602.3 605.0 464.3 328.4 263.1 315.6 41

 Addendum:

42 Gross value added (line 1) 7573.5 8043.6 8596.2 9149.3 9698.1 10384.2 10736.8 11050.3 11524.3 12283.5 42

43 Plus statistical discrepancy (NIPA) 90.6 56.6 12.3 -60.2 -37.5 -99.5 -115.0 -72.8 -13.6 -8.6 43

44 Equals: GDP (NIPA, expenditure approach) 7664.1 8100.2 8608.5 9089.2 9660.6 10284.8 10621.8 10977.5 11510.7 12274.9 44
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132 Historical Annuals, 1995-2004, September 18, 2014

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross value added 7573.5 8043.6 8596.2 9149.3 9698.1 10384.2 10736.8 11050.3 11524.3 12283.5 1

 2 Households and nonprofit institutions serving households 885.7 931.6 984.3 1049.5 1122.1 1202.7 1279.4 1357.2 1427.0 1510.9 2

 3 Nonfinancial noncorporate business 1049.5 1132.4 1209.8 1311.6 1392.9 1506.4 1728.2 1812.5 1911.9 2079.1 3

 4 Nonfinancial corporate business 4041.4 4296.1 4608.4 4873.7 5169.9 5513.0 5471.2 5538.9 5724.4 6107.9 4

 5 Financial business 501.0 558.2 630.8 707.5 743.8 821.9 847.2 849.0 885.6 922.1 5

 6 Federal government 385.5 385.5 390.4 395.5 405.6 423.1 431.0 462.6 498.1 525.8 6

 7 State and local government 710.4 739.9 772.6 811.5 863.9 917.2 979.9 1030.1 1077.2 1137.7 7

 8 Net saving 306.8 405.3 543.6 622.1 602.3 605.0 464.3 328.4 263.1 315.6 8

 9 Households and nonprofit institutions serving households 352.9 345.2 352.2 405.3 302.9 307.2 335.0 405.1 408.7 410.0 9

10 Nonfinancial corporate business 211.4 245.3 267.5 211.0 221.3 161.7 138.1 213.4 273.2 312.7 10

11 Financial business 14.8 5.8 13.4 -12.4 2.3 -30.3 42.1 101.3 105.5 100.5 11

12 Federal government -240.8 -178.5 -91.2 2.7 66.6 156.5 14.5 -270.5 -402.9 -399.2 12

13 State and local government -31.5 -12.5 1.7 15.4 9.2 9.9 -65.3 -120.9 -121.4 -108.4 13

 Net capital transfers

14 Households and nonprofit institutions serving households 18.9 23.1 27.0 32.4 36.3 35.6 30.3 29.1 13.1 1.4 14

15 Nonfinancial noncorporate business -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 15

16 Nonfinancial corporate business -0.4 0.0 0.0 0.0 -0.9 0.0 -12.5 -0.0 -0.1 -6.7 16

17 Financial business 1.9 0.0 0.0 0.0 1.7 0.0 7.7 0.0 0.0 16.2 17

18 Federal government 13.0 10.9 8.7 3.8 7.8 8.9 14.6 24.4 41.1 39.3 18

19 State and local government -32.4 -33.8 -35.2 -35.9 -40.0 -44.2 -51.7 -52.9 -52.0 -48.0 19

20 Rest of the world -0.6 -0.2 -0.4 -0.2 -4.5 -0.4 12.9 -0.6 -2.2 2.8 20

21 Gross fixed capital formation 1594.0 1721.2 1854.2 2013.0 2191.8 2369.5 2380.6 2350.1 2473.9 2701.3 21

22 Households and nonprofit institutions serving households 318.2 354.0 380.5 435.3 474.0 503.1 534.9 580.1 653.9 765.9 22

23 Nonfinancial noncorporate business 147.9 154.9 167.9 181.3 203.6 221.6 220.5 229.3 238.3 260.3 23

24 Nonfinancial corporate business 721.5 782.5 860.6 915.2 991.2 1095.7 1057.4 941.2 960.0 1010.1 24

25 Financial business (nonresidential) 98.7 109.9 115.7 139.9 154.7 158.8 154.1 155.9 156.5 176.5 25

26 Federal government 147.7 149.8 143.7 147.7 154.9 157.4 163.8 180.3 196.4 211.0 26

27 State and local government 160.0 170.2 185.8 193.7 213.6 232.9 249.8 263.3 268.9 277.5 27

28 Consumption of fixed capital 1122.8 1176.0 1240.0 1310.3 1400.9 1514.2 1604.0 1662.1 1727.2 1831.7 28

29 Households and nonprofit institutions serving households 164.8 172.7 182.1 194.5 210.9 230.1 250.2 266.6 290.8 323.4 29

30 Nonfinancial noncorporate business 120.6 124.9 130.0 136.7 145.4 156.3 166.6 174.6 183.6 196.4 30

31 Nonfinancial corporate business 523.7 557.4 598.4 638.2 683.4 741.9 785.3 804.7 818.0 850.2 31

32 Financial business (nonresidential) 73.5 76.1 79.6 85.5 96.2 108.3 115.6 122.1 130.0 139.3 32

33 Federal government 151.9 152.4 153.0 153.6 156.8 161.5 163.3 165.0 170.3 178.6 33

34 State and local government 88.3 92.6 96.9 101.8 108.1 116.2 123.0 129.0 134.5 143.8 34

35 Change in inventories 31.2 30.8 70.9 63.7 60.8 54.5 -38.3 18.5 19.3 63.9 35

36 Nonfinancial noncorporate business -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 36

37 Nonfinancial corporate business 38.5 21.5 62.2 57.2 57.2 50.3 -34.3 18.3 17.1 50.3 37

38 Net lending (+) or net borrowing (-) (capital account) -196.0 -170.9 -142.1 -144.6 -254.0 -305.1 -261.1 -378.6 -505.0 -615.1 38

39 Households and nonprofit institutions serving households 185.4 145.4 131.6 138.1 10.2 5.3 27.7 70.9 41.0 -25.2 39

40 Nonfinancial noncorporate business -19.6 -39.3 -46.7 -51.1 -61.4 -69.5 -48.6 -54.9 -56.9 -72.4 40

41 Nonfinancial corporate business -30.4 -4.8 -64.7 -127.4 -142.0 -241.2 -86.3 61.2 116.3 111.0 41

42 Financial business -12.3 -28.0 -22.8 -66.7 -57.9 -80.8 -4.2 67.5 78.9 47.1 42

43 Federal government -241.6 -182.0 -81.7 10.9 62.0 152.3 0.8 -309.9 -469.1 -470.1 43

44 State and local government -77.5 -62.2 -57.9 -48.3 -64.8 -71.2 -150.5 -213.5 -215.2 -205.4 44

 Addendum:

45 Statistical discrepancy (NIPA) 90.6 56.6 12.3 -60.2 -37.5 -99.5 -115.0 -72.8 -13.6 -8.6 45

46 Rest of the world 105.5 114.3 129.8 204.7 291.5 404.6 376.0 451.4 518.7 623.7 46

47 Net lending (+) or net borrowing (-) (financial account) 141.4 36.4 31.8 148.5 16.4 -304.5 -111.0 -702.0 -547.7 -442.1 47

48 Households and nonprofit institutions serving households 264.0 255.1 172.9 248.4 29.4 -256.6 -45.2 -171.0 -10.9 131.1 48

49 Nonfinancial noncorporate business -15.4 -35.2 -42.2 -46.1 -55.6 -63.6 -42.1 -45.1 -45.4 -56.9 49

50 Nonfinancial corporate business 32.7 49.6 -20.1 -49.5 -23.5 -34.5 77.7 50.3 72.7 165.0 50

51 Financial business 119.4 -8.8 16.2 7.2 32.0 -95.4 -1.3 0.3 189.9 -46.7 51

52 Federal government -253.9 -194.0 -87.0 -8.3 78.4 147.1 -12.5 -342.0 -530.9 -474.1 52

53 State and local government -5.3 -30.3 -8.0 -3.1 -44.2 -1.7 -87.6 -194.6 -223.1 -160.4 53

 Addendum:

54 Rest of the world 50.4 119.0 151.7 86.5 173.5 321.8 367.6 406.9 327.2 452.1 54

 Total other volume changes

55 Households and nonprofit institutions serving households 201.6 289.1 167.6 376.2 378.1 -315.5 262.3 42.4 475.4 1438.9 55

56 Nonfinancial noncorporate business 18.0 -4.3 -21.4 -37.0 -71.7 -21.2 -19.6 -74.1 55.3 65.8 56

57 Nonfinancial corporate business 177.6 129.1 178.9 417.0 447.3 897.6 -14.7 -174.7 118.9 267.2 57

58 Financial business -296.0 -286.8 -388.2 -206.1 -451.9 521.5 330.0 556.5 -697.3 -418.3 58

59 Federal government 6.9 62.4 12.7 -17.8 35.3 20.7 -10.8 -22.8 -95.0 -28.2 59

60 State and local government 224.5 169.3 270.9 207.6 255.8 -85.9 -165.5 -350.4 337.5 -697.2 60

61 Rest of the world -21.5 4.6 21.9 -118.2 -112.9 -93.5 -86.9 -57.9 -123.0 -179.0 61

 Holding gains/losses

62 Households and nonprofit institutions serving households 1899.8 1117.3 2955.7 3075.2 4249.5 767.4 -246.5 -904.6 4487.7 5085.3 62

63 Nonfinancial noncorporate business 155.5 124.3 402.8 279.2 305.6 506.3 222.4 406.1 525.6 1162.9 63

64 Nonfinancial corporate business -1527.8 -409.4 -1238.2 -2032.7 -3364.1 2427.5 1325.0 2963.5 -2458.5 56.6 64

65 Financial business 22.3 -348.2 -340.3 261.4 545.8 -782.1 -156.6 -172.5 101.0 80.7 65

66 Federal government 47.2 31.4 35.2 40.5 62.0 47.8 22.7 35.5 47.7 115.7 66

67 State and local government 121.8 89.1 118.3 140.7 177.0 157.9 105.9 85.5 120.5 516.3 67

68 Rest of the world 30.8 -117.2 63.1 13.1 -363.7 148.9 117.2 -265.4 -370.8 -363.6 68
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Historical Annuals, 1995-2004, September 18, 2014 133

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Change in net worth

69 Households and nonprofit institutions serving households 2435.5 1728.6 3448.5 3824.3 4894.2 723.5 320.3 -486.1 5358.8 6932.9 69

70 Nonfinancial noncorporate business 175.8 119.1 382.1 242.8 234.7 485.4 204.1 331.7 581.5 1233.8 70

71 Nonfinancial corporate business -1138.4 -35.1 -791.8 -1404.7 -2694.6 3486.8 1460.9 3002.2 -2066.3 643.1 71

72 Financial business -260.8 -629.2 -715.2 43.0 94.4 -291.0 207.8 485.3 -490.9 -253.3 72

73 Federal government -199.7 -95.6 -51.9 21.6 156.2 216.1 11.8 -282.2 -491.3 -351.1 73

74 State and local government 347.2 279.8 426.0 399.5 482.0 126.1 -73.1 -333.0 388.5 -241.3 74

75 Rest of the world 114.8 1.7 214.8 99.6 -185.2 460.0 406.3 128.1 24.8 81.0 75
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134 Historical Annuals, 1995-2004, September 18, 2014

S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 885.7 931.6 984.3 1049.5 1122.1 1202.7 1279.4 1357.2 1427.0 1510.9 1

 2 Less: Consumption of fixed capital 164.8 172.7 182.1 194.5 210.9 230.1 250.2 266.6 290.8 323.4 2

 3 Equals: Net value added 720.9 758.9 802.2 854.9 911.1 972.7 1029.2 1090.6 1136.3 1187.5 3

 4 Compensation paid by households and NPISHs 324.2 339.7 358.2 385.0 407.6 434.9 453.4 489.1 517.7 545.6 4

 5 Wages and salaries 278.5 292.4 308.7 330.0 347.3 371.4 386.7 412.1 432.5 452.2 5

 6 Employers’ social contributions 45.6 47.3 49.5 54.9 60.2 63.5 66.7 77.0 85.2 93.4 6

 7 Taxes on production and imports less subsidies 77.5 80.0 82.9 84.4 87.3 90.3 95.3 103.0 108.8 114.7 7

 8 Operating surplus, net 319.2 339.2 361.1 385.6 416.3 447.5 480.5 498.5 509.7 527.2 8

 9 Net national income/Balance of primary incomes, net 5789.4 6133.1 6545.5 7052.8 7435.4 8038.9 8308.0 8410.3 8717.6 9244.8 9

10 Operating surplus, net 319.2 339.2 361.1 385.6 416.3 447.5 480.5 498.5 509.7 527.2 10

11 Compensation of employees (received) 4202.6 4422.1 4714.7 5077.8 5410.3 5856.6 6046.5 6141.9 6364.5 6739.5 11

12 Wages and salaries 3418.0 3616.5 3876.8 4181.6 4458.0 4825.9 4954.4 4996.4 5137.8 5421.9 12

13 Employers’ social contributions 784.6 805.6 837.8 896.2 952.3 1030.7 1092.1 1145.5 1226.6 1317.6 13

14 Property income (received) 1657.5 1786.2 1911.2 2052.7 2095.3 2275.5 2347.8 2329.0 2389.8 2537.5 14

15 Interest 857.0 875.3 921.6 988.2 984.4 1071.3 1073.3 993.0 989.5 942.9 15

16 Distributed income of corporations 800.5 910.9 989.6 1064.5 1110.9 1204.2 1274.4 1336.0 1400.3 1594.5 16

17 Dividends 258.0 302.2 337.9 355.4 346.4 383.3 369.2 398.6 432.3 562.1 17

18 Withdrawals from income of quasi-corporations (1) 542.5 608.7 651.7 709.1 764.5 820.9 905.3 937.4 968.1 1032.5 18

19 Less: Uses of property income (interest paid) 389.9 414.4 441.5 463.3 486.5 540.7 566.8 559.2 546.5 559.5 19

20 Net national income/Balance of primary incomes, net 5789.4 6133.1 6545.5 7052.8 7435.4 8038.9 8308.0 8410.3 8717.6 9244.8 20

21 Less: Current taxes on income, wealth, etc. (paid) 743.9 832.0 926.2 1026.4 1107.5 1232.3 1234.8 1050.3 1000.9 1046.0 21

22 Plus: Social benefits (received) 860.2 901.2 929.8 951.9 987.6 1040.6 1141.3 1246.2 1316.6 1399.9 22

23 Less: Social contributions (paid) 532.8 555.1 587.2 624.7 661.3 705.8 733.2 751.5 779.3 829.2 23

24 Plus: Other current transfers (received) 18.7 22.9 19.4 26.0 34.0 42.4 46.8 34.2 26.3 16.8 24

25 Less: Other current transfers (paid) 54.6 56.9 68.4 71.3 78.2 84.2 90.0 99.6 106.1 116.3 25

26 Equals: Disposable income, net 5337.1 5613.3 5912.9 6308.3 6609.9 7099.6 7438.1 7789.2 8174.2 8670.0 26

27 Less: Final consumption expenditures 4984.2 5268.1 5560.7 5903.0 6307.0 6792.4 7103.1 7384.1 7765.5 8260.0 27

28 Equals: Net saving 352.9 345.2 352.2 405.3 302.9 307.2 335.0 405.1 408.7 410.0 28

 Capital account

29 Net saving less capital transfers 334.0 322.1 325.2 372.9 266.6 271.5 304.6 376.1 395.6 408.6 29

30 Net saving 352.9 345.2 352.2 405.3 302.9 307.2 335.0 405.1 408.7 410.0 30

31 Less: Capital transfers paid (net) 18.9 23.1 27.0 32.4 36.3 35.6 30.3 29.1 13.1 1.4 31

32 Capital formation, net 148.6 176.7 193.6 234.9 256.4 266.2 276.9 305.2 354.6 433.8 32

33 Gross fixed capital formation, excluding consumer durables 318.2 354.0 380.5 435.3 474.0 503.1 534.9 580.1 653.9 765.9 33

34 Residential 266.6 299.2 312.5 355.0 388.2 408.2 435.7 473.9 541.9 643.8 34

35 Nonresidential (nonprofit organizations) 51.6 54.8 68.1 80.3 85.8 94.9 99.1 106.2 112.0 122.1 35

36 Less: Consumption of fixed capital 164.8 172.7 182.1 194.5 210.9 230.1 250.2 266.6 290.8 323.4 36

37 Acquisition of nonproduced nonfinancial assets -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 37

38 Net lending (+) or borrowing (-), capital account (lines 29-32) 185.4 145.4 131.6 138.1 10.2 5.3 27.7 70.9 41.0 -25.2 38

 Financial account

39 Net lending (+) or borrowing (-) (line 38) 185.4 145.4 131.6 138.1 10.2 5.3 27.7 70.9 41.0 -25.2 39

40 Net acquisition of financial assets 595.6 604.5 525.8 689.5 584.6 329.0 579.9 613.1 1033.7 1282.4 40

41 Currency and deposits 82.4 112.3 108.4 112.0 78.1 190.6 358.2 292.1 271.0 405.1 41

42 Currency and transferable deposits -49.9 -41.7 -40.9 24.8 -19.8 -103.5 74.7 -15.9 -31.2 -58.2 42

43 Time and savings deposits 127.7 141.6 142.8 86.7 94.9 286.5 283.1 306.7 299.3 454.4 43

44 Foreign deposits 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.9 8.9 44

45 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Debt securities -8.3 63.2 -78.5 21.8 16.4 -86.4 -200.7 -42.7 -73.3 108.3 46

47 Open market paper 2.0 4.1 1.3 3.0 4.7 12.4 -9.2 -5.9 -4.9 6.4 47

48 Treasury securities -10.3 -13.8 -143.1 -70.6 2.5 -210.7 -89.9 -134.6 22.6 -11.0 48

49 Agency- and GSE-backed securities (2) 27.6 100.9 54.2 68.4 82.7 29.4 -139.1 -137.2 132.8 133.0 49

50 Municipal securities -60.5 -40.5 21.5 0.8 28.6 6.2 56.4 83.6 15.8 118.5 50

51 Corporate and foreign bonds 32.9 12.5 -12.4 20.2 -102.1 76.2 -18.9 151.5 -239.5 -138.6 51

52 Loans 22.5 37.0 22.9 68.2 65.1 114.3 47.4 -52.2 84.6 127.4 52

53 Short term 29.8 44.5 30.0 72.5 57.8 112.4 42.1 -60.1 79.6 117.0 53

54 Long term (mortgages) -7.2 -7.5 -7.1 -4.3 7.3 1.9 5.3 7.9 5.1 10.4 54
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S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

55 Equity and investment fund shares 95.1 24.2 8.9 -55.0 -18.7 -414.2 -218.8 -208.7 94.8 -81.9 55

56 Corporate equities -72.2 -157.0 -221.4 -285.9 -149.6 -640.4 -490.0 -182.7 -105.1 -274.8 56

57 Mutual fund shares 50.0 156.7 180.3 173.2 98.4 79.7 129.7 80.1 261.9 180.9 57

58 Money market fund shares 99.3 28.5 70.4 96.1 102.0 167.9 163.7 -32.7 -113.9 -56.2 58

59 Equity in noncorporate business 17.9 -4.0 -20.3 -38.4 -69.6 -21.4 -22.2 -73.5 51.9 68.2 59

60 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 60

61 Insurance, pension and standardized guarantee schemes 403.8 367.8 464.0 542.5 443.8 524.7 593.7 624.6 656.6 723.5 61

62 Insurance receivables due from property-casualty insurance companies 9.6 2.8 2.0 -1.0 0.1 -0.7 12.5 21.6 22.9 23.6 62

63 Life insurance reserves 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 63

64 Pension entitlements (4) 340.3 312.8 392.0 485.7 379.3 468.4 497.1 515.3 531.7 638.0 64

65 Non-life insurance reserves at life insurance companies 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 65

66 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 19.6 17.4 66

67 Net incurrence of liabilities 331.6 349.4 352.8 441.2 555.3 585.6 625.1 784.0 1044.6 1151.3 67

68 Debt securities (municipals) 0.2 6.1 7.1 11.8 10.4 5.8 13.8 12.6 13.8 14.7 68

69 Loans 322.8 334.5 336.5 422.1 538.6 575.9 613.5 751.5 1025.0 1118.6 69

70 Short term 169.8 125.3 117.5 110.7 156.8 180.7 96.5 33.2 146.8 179.0 70

71 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 71

72 Depository institution loans n.e.c. 18.5 -10.1 9.8 -7.6 -25.9 -4.4 -16.1 -24.0 8.0 -20.0 72

73 Other loans and advances 0.7 13.9 0.7 -0.4 -4.8 1.3 0.9 0.2 -1.5 0.3 73

74 Security credit 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 74

75 Long term (mortgages) 153.1 209.2 219.0 311.3 381.8 395.2 517.0 718.3 878.3 939.7 75

76 Insurance, pension and standardized guarantee schemes 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 76

77 Other accounts payable (trade debt) 7.9 8.0 8.9 8.7 4.1 3.8 -1.9 19.1 4.8 16.5 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 40-67) 264.0 255.1 172.9 248.4 29.4 -256.6 -45.2 -171.0 -10.9 131.1 78

 Other changes in volume account

79 Total other volume changes 201.6 289.1 167.6 376.2 378.1 -315.5 262.3 42.4 475.4 1438.9 79

80 Net investment in consumer durable goods 94.5 110.2 127.6 167.6 213.4 246.7 230.7 238.8 239.7 254.8 80

81 Disaster losses -1.2 0.0 0.0 0.0 -1.3 0.0 -2.0 0.0 0.0 -12.0 81

82 Other volume changes 29.8 69.2 -1.3 98.3 146.8 -300.3 106.5 45.5 287.6 1039.9 82

83 Less: Statistical discrepancy (lines 38-78) (5) -78.6 -109.7 -41.3 -110.3 -19.2 261.9 72.9 241.9 51.8 -156.2 83

 Revaluation account

84 Nonfinancial assets 163.6 200.0 381.2 677.9 717.2 1448.8 1028.5 1046.7 1286.8 2398.9 84

85 Real estate 153.1 213.8 421.7 733.4 775.9 1487.0 1101.2 1125.3 1376.0 2436.5 85

86 Consumer durable goods 10.6 -11.6 -37.5 -51.8 -56.1 -36.0 -68.1 -75.6 -88.0 -34.5 86

87 Equipment -0.5 -2.0 -3.1 -3.8 -3.3 -2.6 -2.9 -1.9 -1.7 -2.0 87

88 Intellectual property products 0.5 -0.2 0.0 0.1 0.6 0.5 -1.7 -1.0 0.5 -1.1 88

89 Financial assets 1736.2 917.3 2574.5 2397.3 3532.3 -681.4 -1275.0 -1951.3 3201.0 2686.4 89

90 Corporate equities 1212.1 435.1 1640.1 1640.2 2400.8 -712.5 -818.7 -1481.9 1695.4 967.4 90

91 Mutual fund shares 106.4 152.2 193.0 208.2 413.2 -257.9 -217.1 -457.0 407.5 316.8 91

92 Equity in noncorporate business 158.6 124.3 405.4 281.3 307.2 506.9 221.4 404.0 537.6 1170.4 92

93 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 93

94 Insurance, pension and standardized guarantee schemes 259.1 205.8 336.0 267.7 411.2 -217.9 -460.7 -416.3 560.4 231.8 94

95 Changes in net worth due to nominal holding gains/losses 1899.8 1117.3 2955.7 3075.2 4249.5 767.4 -246.5 -904.6 4487.7 5085.3 95

 Changes in balance sheet account

96 Change in net worth (lines 32+38+79+95) 2435.5 1728.6 3448.5 3824.3 4894.2 723.5 320.3 -486.1 5358.8 6932.9 96

 Balance sheet account (end of period)

97 Total assets 34277.4 36368.4 40169.8 44435.2 49884.7 51203.6 52149.0 52447.0 58880.5 66984.7 97

98 Nonfinancial assets 11497.7 11985.0 12688.2 13778.7 14963.4 16924.9 18457.9 20048.1 21929.0 25004.3 98

99 Real estate 8835.1 9220.4 9826.7 10788.5 11800.5 13533.7 14889.6 16297.7 18006.5 20839.9 99

100 Consumer durable goods 2529.3 2627.9 2718.0 2833.8 2991.1 3201.8 3364.3 3527.5 3679.2 3899.5 100

101 Equipment 90.1 91.4 94.6 103.6 114.3 127.3 140.2 155.9 171.8 189.4 101

102 Intellectual property products 43.2 45.3 48.9 52.9 57.5 62.0 63.8 67.1 71.6 75.5 102
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S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

103 Financial assets 22779.7 24383.4 27481.6 30656.5 34921.3 34278.8 33691.1 32398.9 36951.4 41980.4 103

104 Currency and deposits 2955.2 3067.1 3164.1 3272.6 3357.4 3525.1 3883.4 4172.0 4526.6 4944.8 104

105 Currency and transferable deposits 586.5 544.8 503.9 528.7 508.9 405.4 480.1 464.1 458.0 399.8 105

106 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.8 61.8 106

107 Time and savings deposits 2345.4 2486.9 2623.0 2706.3 2807.9 3071.5 3354.6 3657.9 4015.7 4483.2 107

108 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 108

109 Debt securities 2267.7 2407.1 2344.9 2373.4 2478.8 2352.5 2135.0 2117.0 2272.5 3137.2 109

110 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 110

111 Treasury securities 836.7 888.5 797.1 732.1 809.5 578.3 433.9 269.9 416.9 472.7 111

112 Agency- and GSE-backed securities (2) 216.3 332.6 390.3 441.5 540.5 587.9 385.0 241.5 376.6 443.6 112

113 Municipal securities 533.4 493.0 497.6 498.4 526.9 531.5 587.9 671.5 687.2 1522.9 113

114 Corporate and foreign bonds 609.7 617.2 582.8 621.3 517.0 557.5 640.1 852.0 714.5 614.3 114

115 Loans 259.1 296.1 319.0 387.2 452.3 566.6 614.0 561.8 646.4 773.8 115

116 Short term 145.5 190.0 220.0 292.5 350.3 462.6 504.8 444.6 524.2 641.1 116

117 Long term (mortgages) 113.6 106.1 99.0 94.7 102.0 104.0 109.2 117.2 122.2 132.6 117

118 Equity and investment fund shares 9685.6 10421.3 12590.9 14665.6 17767.1 16619.4 15585.6 13841.9 16577.3 18943.3 118

119 Corporate equities 4434.2 4712.2 6114.0 7468.4 9719.5 8096.6 6787.9 5123.3 6713.6 7406.1 119

120 Mutual fund shares 1253.0 1561.9 1874.2 2255.6 2767.2 2589.0 2501.6 2124.6 2794.1 3291.8 120

121 Money market fund shares 472.4 500.9 571.3 667.4 769.5 937.3 1101.0 1068.4 954.5 898.3 121

122 Equity in noncorporate business 3526.0 3646.2 4031.3 4274.2 4510.9 4996.4 5195.0 5525.6 6115.1 7347.1 122

123 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 123

124 Insurance, pension and standardized guarantee schemes 7612.1 8191.7 9062.7 9957.6 10865.6 11215.1 11473.1 11706.3 12928.7 14181.2 124

125 Insurance receivables due from property-casualty insurance companies 206.8 209.6 211.6 210.5 210.6 209.9 222.4 243.9 266.8 290.4 125

126 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 126

127 Pension entitlements (4) 6717.6 7242.2 8046.2 8878.6 9709.2 10017.3 10195.3 10340.4 11414.2 12567.1 127

128 Non-life insurance reserves at life insurance companies 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 128

129 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 35.0 52.4 129

130 Total liabilities and net worth 34277.4 36368.4 40169.8 44435.2 49884.7 51203.6 52149.0 52447.0 58880.5 66984.7 130

131 Liabilities 5041.7 5404.2 5757.0 6198.2 6753.5 7348.9 7974.0 8758.0 9832.7 11004.1 131

132 Debt securities (municipals) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 132

133 Loans 4826.8 5174.3 5510.8 5932.9 6471.4 7057.2 7670.7 8422.2 9477.3 10610.8 133

134 Short term 1406.0 1531.3 1648.8 1759.5 1918.7 2110.5 2207.0 2240.2 2407.3 2586.3 134

135 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 135

136 Depository institution loans n.e.c. 50.8 40.7 50.5 42.9 19.3 14.9 -1.2 -25.2 3.2 -16.8 136

137 Other loans and advances 108.4 122.3 123.0 122.6 117.8 119.1 120.0 120.2 118.7 119.0 137

138 Security credit 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 138

139 Long term (mortgages) 3420.8 3643.0 3862.0 4173.3 4552.8 4946.7 5463.7 6182.0 7070.0 8024.5 139

140 Insurance, pension and standardized guarantee schemes 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 140

141 Other accounts payable (trade debt) 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 141

142 Net worth 29235.7 30964.2 34412.7 38237.1 43131.2 43854.7 44175.0 43689.0 49047.7 55980.6 142

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

NPISHs Nonprofit institutions serving households

n.e.c. Not elsewhere classified
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S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 1049.5 1132.4 1209.8 1311.6 1392.9 1506.4 1728.2 1812.5 1911.9 2079.1 1

 2 Less: Consumption of fixed capital 120.6 124.9 130.0 136.7 145.4 156.3 166.6 174.6 183.6 196.4 2

 3 Equals: Net value added 928.9 1007.5 1079.8 1174.9 1247.5 1350.1 1561.6 1637.9 1728.3 1882.7 3

 4 Compensation of employees (paid) 238.0 251.3 269.0 292.8 312.4 338.4 450.7 483.1 532.2 599.1 4

 5 Wages and salaries 204.1 216.0 232.4 252.5 271.3 294.1 384.1 408.9 447.5 503.5 5

 6 Employers’ social contributions 33.9 35.3 36.6 40.3 41.1 44.3 66.7 74.1 84.8 95.6 6

 7 Taxes on production and imports less subsidies 57.5 62.9 72.9 82.2 80.6 85.7 91.1 105.5 111.4 125.4 7

 8 Operating surplus, net 633.4 693.3 737.9 799.9 854.5 926.0 1019.8 1049.4 1084.6 1158.3 8

 9 Net national income/Balance of primary incomes, net 6.1 9.0 10.4 8.9 11.1 11.2 14.0 15.2 19.8 20.1 9

10 Operating surplus, net 633.4 693.3 737.9 799.9 854.5 926.0 1019.8 1049.4 1084.6 1158.3 10

11 Property income (interest received) 10.4 11.2 12.0 12.9 13.4 14.6 15.0 15.5 16.7 17.3 11

12 Less: Uses of property income (paid) 637.7 695.5 739.5 803.9 856.9 929.4 1020.8 1049.7 1081.5 1155.5 12

13 Interest 124.3 124.7 130.1 140.6 149.3 169.8 173.9 166.5 163.5 170.3 13

14 Withdrawals from income of quasi-corporations (1) 513.4 570.8 609.3 663.3 707.6 759.7 846.9 883.2 917.9 985.1 14

15 Reinvested earnings on foreign direct investment 0.1 0.0 0.1 0.0 0.0 0.0 -0.1 0.0 0.0 0.1 15

16 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Net national income/Balance of primary incomes, net 6.1 9.0 10.4 8.9 11.1 11.2 14.0 15.2 19.8 20.1 17

18 Less: Other current transfers (paid) 6.1 9.0 10.4 8.9 11.1 11.2 14.0 15.2 19.8 20.1 18

19 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Capital account

21 Net saving less capital transfers 0.4 0.0 0.0 0.0 0.4 0.0 1.3 0.0 0.0 5.0 21

22 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Less: Capital transfers paid (net) -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 23

24 Capital formation, net 20.0 39.3 46.7 51.1 61.8 69.5 49.9 54.9 56.9 77.4 24

25 Gross fixed capital formation 147.9 154.9 167.9 181.3 203.6 221.6 220.5 229.3 238.3 260.3 25

26 Nonresidential 93.6 99.2 108.8 121.6 134.8 149.9 149.0 151.8 150.1 162.2 26

27 Residential 54.3 55.7 59.0 59.7 68.7 71.7 71.6 77.6 88.1 98.1 27

28 Less: Consumption of fixed capital 120.6 124.9 130.0 136.7 145.4 156.3 166.6 174.6 183.6 196.4 28

29 Change in private inventories -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 29

30 Net lending (+) or borrowing (-), capital account (lines 21-24) -19.6 -39.3 -46.7 -51.1 -61.4 -69.5 -48.6 -54.9 -56.9 -72.4 30

 Financial account

31 Net lending (+) or borrowing (-) (line 30) -19.6 -39.3 -46.7 -51.1 -61.4 -69.5 -48.6 -54.9 -56.9 -72.4 31

32 Net acquisition of financial assets 76.2 94.7 131.0 222.6 185.0 246.8 156.9 78.6 80.5 370.8 32

33 Currency and deposits 17.8 22.7 33.1 46.9 58.2 76.5 7.9 17.2 50.8 93.7 33

34 Currency and transferable deposits 13.5 19.2 22.4 6.1 5.1 8.4 0.8 2.7 6.1 106.9 34

35 Time and savings deposits 4.3 3.5 10.7 40.7 53.1 68.1 7.1 14.5 44.7 -13.2 35

36 Debt securities 5.9 5.3 4.2 5.4 -0.9 2.7 3.7 -0.1 1.4 7.0 36

37 Treasury securities 5.3 4.9 3.7 5.7 -0.8 3.0 2.7 0.0 2.1 5.3 37

38 Municipal securities 0.6 0.4 0.5 -0.4 -0.1 -0.3 1.1 -0.1 -0.7 1.7 38

39 Loans -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 39

40 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Long term (mortgages) -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 41

42 Equity and investment fund shares 1.9 2.3 3.7 9.7 8.1 8.7 10.0 2.4 2.9 3.0 42

43 Money market mutual fund shares 1.9 2.2 3.7 9.7 8.1 8.7 9.6 2.3 2.3 2.9 43

44 Equity in government-sponsored enterprises (2) -0.1 0.1 -0.0 0.0 -0.0 0.0 0.5 0.1 0.6 0.0 44

45 Insurance, pension and standardized guarantee schemes (3) 2.8 1.0 0.7 3.0 1.1 -0.1 2.8 4.5 4.7 4.6 45

46 Other accounts receivable 50.0 64.8 91.0 150.1 120.8 159.6 129.0 55.4 20.6 258.1 46

47 Trade receivables 15.3 29.5 35.1 28.2 39.4 69.6 1.8 18.9 -25.1 26.6 47

48 Other (miscellaneous assets) 34.7 35.2 55.9 121.9 81.4 90.0 127.3 36.5 45.8 231.4 48

49 Net incurrence of liabilities 91.6 130.0 173.2 268.7 240.7 310.3 199.0 123.7 125.8 427.7 49

50 Loans 45.3 70.4 101.9 179.0 193.8 192.4 163.5 151.9 73.9 254.7 50

51 Short term 16.4 30.3 51.0 31.3 55.7 57.9 39.9 26.3 9.8 34.1 51

52 Depository institution loans n.e.c. 11.5 29.2 46.7 25.5 49.6 50.4 43.5 23.7 10.4 33.0 52

53 Other loans and advances 4.9 1.1 4.2 5.8 6.1 7.4 -3.6 2.6 -0.6 1.2 53

54 Long term (mortgages) 29.0 40.2 50.9 147.7 138.1 134.6 123.6 125.6 64.1 220.6 54
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S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

55 Equity and investment fund shares 18.4 -4.0 -20.9 -36.9 -70.2 -21.2 -18.9 -73.7 55.3 72.2 55

56 Equity in noncorporate business 18.4 -4.3 -21.4 -37.0 -70.8 -21.2 -18.9 -74.1 55.3 72.4 56

57 Foreign direct investment in the United States -0.1 0.3 0.5 0.2 0.6 -0.0 -0.0 0.4 -0.1 -0.2 57

58 Other accounts payable 27.9 63.5 92.2 126.6 117.1 139.1 54.5 45.6 -3.3 100.8 58

59 Trade payables 13.8 31.8 31.9 30.3 34.5 41.5 -4.8 25.4 -26.2 23.7 59

60 Taxes payable 0.6 2.3 4.3 4.1 8.9 11.7 4.0 1.5 -0.5 8.4 60

61 Other (miscellaneous liabilities) 13.6 29.4 56.0 92.1 73.7 85.9 55.2 18.7 23.4 68.8 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 32-49) -15.4 -35.2 -42.2 -46.1 -55.6 -63.6 -42.1 -45.1 -45.4 -56.9 62

 Other changes in volume account

63 Total other volume changes 18.0 -4.3 -21.4 -37.0 -71.7 -21.2 -19.6 -74.1 55.3 65.8 63

64 Disaster losses -0.5 0.0 0.0 0.0 -0.8 0.0 -0.7 0.0 0.0 -6.6 64

65 Other volume changes 18.4 -4.3 -21.4 -37.0 -70.8 -21.2 -18.9 -74.1 55.3 72.4 65

 Revaluation account

66 Nonfinancial assets 155.5 124.3 402.8 279.2 305.6 506.3 222.4 406.1 525.6 1162.9 66

67 Real estate 134.0 84.1 402.0 289.7 292.9 488.5 217.2 387.8 496.6 1129.2 67

68 Residential 86.3 68.3 166.4 141.9 227.8 295.6 243.8 327.6 379.7 666.3 68

69 Nonresidential 47.7 15.8 235.6 147.8 65.1 193.0 -26.6 60.2 116.9 462.9 69

70 Equipment 15.3 11.2 5.8 7.9 5.0 7.6 9.2 6.6 12.3 28.9 70

71 Residential 0.0 0.4 -0.5 -0.3 -0.4 -0.0 -0.1 -0.6 -1.4 -0.5 71

72 Nonresidential 15.3 10.8 6.2 8.2 5.4 7.6 9.3 7.3 13.7 29.4 72

73 Intellectual property products 2.2 1.6 2.0 2.1 4.3 4.5 2.1 3.5 5.7 8.3 73

74 Inventories 4.0 27.4 -6.9 -20.6 3.3 5.7 -6.1 8.2 11.0 -3.4 74

75 Liabilities (direct investment in the U.S.) -2.0 0.9 -0.7 -0.6 -0.5 -0.3 0.1 0.3 -0.6 -0.0 75

76 Changes in net worth due to nominal holding gains/losses 157.5 123.4 403.5 279.8 306.0 506.6 222.3 405.8 526.2 1163.0 76

 Changes in balance sheet account

77 Change in net worth (lines 24+30+63+76) 175.8 119.1 382.1 242.8 234.7 485.4 204.1 331.7 581.5 1233.8 77

 Balance sheet account (end of period)

78 Total assets 5040.2 5294.5 5870.5 6418.4 6964.2 7780.9 8202.9 8732.8 9384.2 10973.3 78

79 Nonfinancial assets 4447.7 4607.3 5052.3 5377.5 5738.3 6308.2 6573.4 7024.6 7595.5 8813.8 79

80 Real estate 3867.5 3970.9 4396.7 4713.6 5041.3 5568.5 5817.8 6235.6 6767.1 7931.5 80

81 Residential (4) 2300.2 2384.1 2567.8 2725.2 2974.4 3291.3 3552.9 3902.2 4310.3 5004.2 81

82 Nonresidential 1567.3 1586.9 1828.8 1988.4 2067.0 2277.2 2264.9 2333.4 2456.8 2927.2 82

83 Equipment 380.0 396.2 408.8 423.7 438.2 458.1 475.3 490.2 506.1 540.5 83

84 Residential 31.8 32.6 32.5 33.0 33.7 35.0 36.2 36.9 37.0 38.5 84

85 Nonresidential 348.2 363.6 376.3 390.8 404.5 423.1 439.1 453.4 469.2 502.0 85

86 Intellectual property products 56.7 60.0 64.8 72.2 83.9 96.8 105.6 115.7 126.1 135.5 86

87 Inventories 143.4 180.1 182.0 168.0 174.9 184.8 174.7 183.0 196.2 206.3 87

88 Financial assets 592.5 687.2 818.2 1040.8 1225.9 1472.7 1629.5 1708.2 1788.7 2159.5 88

89 Currency and deposits 191.3 214.0 247.1 293.9 352.1 428.6 436.5 453.7 504.4 598.1 89

90 Currency and transferable deposits 119.8 139.0 161.3 167.4 172.6 181.0 181.8 184.5 190.6 297.5 90

91 Time and savings deposits 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 300.6 91

92 Debt securities 25.8 31.2 35.4 40.8 39.9 42.6 46.3 46.2 47.6 54.5 92

93 Treasury securities 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 93

94 Municipal securities 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 94

95 Loans 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 95

96 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 96

97 Long term (mortgages) 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 97

98 Equity and investment fund shares 20.0 22.2 25.9 35.6 43.7 52.5 62.5 64.9 67.8 70.8 98

99 Money market mutual fund shares 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 66.5 99

100 Equity in government-sponsored enterprises (2) 2.9 3.0 3.0 3.0 3.0 3.1 3.5 3.6 4.2 4.2 100

101 Insurance, pension and standardized guarantee schemes (3) 71.5 72.5 73.2 76.2 77.3 77.2 80.0 84.5 89.2 93.8 101

102 Other accounts receivable 262.2 326.9 417.9 568.0 688.8 848.4 977.4 1032.8 1053.4 1311.5 102

103 Trade receivables 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 103

104 Other (miscellaneous assets) 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 715.7 947.1 104
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Historical Annuals, 1995-2004, September 18, 2014 139

S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

105 Total liabilities and net worth 5040.2 5294.5 5870.5 6418.4 6964.2 7780.9 8202.9 8732.8 9384.2 10973.3 105

106 Liabilities 1519.6 1654.8 1848.7 2153.8 2464.9 2796.1 3014.1 3212.2 3282.1 3637.4 106

107 Loans 1174.6 1245.1 1347.0 1526.0 1719.8 1912.3 2075.7 2227.6 2301.5 2556.2 107

108 Short term 304.7 335.0 386.0 417.2 472.9 530.8 570.7 597.0 606.8 640.9 108

109 Depository institution loans n.e.c. 200.6 229.8 276.6 302.1 351.7 402.1 445.6 469.3 479.7 512.6 109

110 Other loans and advances 104.1 105.1 109.4 115.1 121.2 128.7 125.1 127.7 127.1 128.3 110

111 Long term (mortgages) 869.9 910.1 961.1 1108.8 1246.9 1381.5 1505.0 1630.6 1694.7 1915.3 111

112 Equity and investment fund shares (direct investment in the U.S.) 2.8 4.0 3.9 3.4 3.6 3.3 3.3 4.0 3.3 3.0 112

113 Other accounts payable 342.1 405.7 497.8 624.4 741.5 880.6 935.0 980.6 977.3 1078.1 113

114 Trade payables 96.7 128.5 160.4 190.8 225.2 266.7 262.0 287.4 261.2 284.9 114

115 Taxes payable 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 115

116 Other (miscellaneous liabilities) 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 116

117 Net worth 3520.6 3639.7 4021.8 4264.6 4499.4 4984.8 5188.9 5520.6 6102.1 7335.9 117

Notes. Nonfinancial noncorporate business includes noncorporate farms that are excluded from the nonfinancial noncorporate business sector in the Financial Accounts of the United States.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Net equity in reserves of property-casualty insurance companies.

(4) Farm houses are included in the household sector.

n.e.c. Not elsewhere classified
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140 Historical Annuals, 1995-2004, September 18, 2014

S.5.a Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 4041.4 4296.1 4608.4 4873.7 5169.9 5513.0 5471.2 5538.9 5724.4 6107.9 1

 2 Less: Consumption of fixed capital 523.7 557.4 598.4 638.2 683.4 741.9 785.3 804.7 818.0 850.2 2

 3 Equals: Net value added 3517.7 3738.8 4010.0 4235.5 4486.5 4771.1 4685.9 4734.2 4906.5 5257.7 3

 4 Compensation of employees (paid) 2524.6 2667.7 2862.6 3093.8 3310.0 3597.3 3584.6 3542.0 3595.7 3762.8 4

 5 Wages and salaries 2076.9 2206.9 2384.2 2582.6 2771.1 3008.4 2993.8 2939.0 2962.2 3099.9 5

 6 Employers’ social contributions 447.7 460.8 478.3 511.2 538.9 588.9 590.8 603.0 633.4 662.9 6

 7 Taxes on production and imports less subsidies 358.7 371.7 388.9 402.9 424.6 449.9 445.0 472.9 495.8 530.9 7

 8 Operating surplus, net 634.4 699.4 758.6 738.7 751.9 723.9 656.3 719.3 815.1 964.1 8

 9 Net national income/Balance of primary incomes, net 381.9 435.5 467.4 403.8 438.3 377.4 304.7 362.8 467.9 561.7 9

10 Operating surplus, net 634.4 699.4 758.6 738.7 751.9 723.9 656.3 719.3 815.1 964.1 10

11 Property income (received) 300.1 331.8 366.1 342.4 376.3 451.6 409.1 394.8 420.2 480.6 11

12 Interest 194.5 217.3 237.8 228.4 242.4 286.5 270.4 246.1 236.4 251.9 12

13 Distributed income of corporations (dividends) 45.4 52.7 62.3 58.2 59.7 62.0 53.9 50.3 55.8 66.3 13

14 Reinvested earnings on U.S. direct investment abroad 60.2 61.8 66.0 55.7 74.2 103.1 84.8 98.4 128.0 162.4 14

15 Less: Uses of property income (paid) 552.7 595.6 657.3 677.3 690.0 798.1 760.8 751.3 767.4 883.0 15

16 Interest 313.3 328.3 355.5 366.4 393.1 472.3 474.6 431.6 391.6 394.6 16

17 Distributed income of corporations (dividends) 223.4 250.2 278.3 299.3 284.4 313.4 299.3 305.1 349.2 430.8 17

18 Reinvested earnings on foreign direct investment 8.4 8.3 14.2 2.8 3.3 -0.1 -28.0 1.5 12.0 40.5 18

19 Rent 7.5 8.7 9.3 8.9 9.2 12.5 14.9 13.1 14.7 17.1 19

20 Net national income/Balance of primary incomes, net 381.9 435.5 467.4 403.8 438.3 377.4 304.7 362.8 467.9 561.7 20

21 Less: Current taxes on income, wealth, etc. (paid) 140.3 152.9 161.4 158.7 171.4 170.2 111.2 97.1 132.9 187.0 21

22 Less: Other current transfers (paid) 30.2 37.3 38.5 34.1 45.6 45.5 55.3 52.3 61.8 62.0 22

23 Equals: Disposable income, net 211.4 245.3 267.5 211.0 221.3 161.7 138.1 213.4 273.2 312.7 23

24 Equals: Net saving 211.4 245.3 267.5 211.0 221.3 161.7 138.1 213.4 273.2 312.7 24

 Capital account

25 Net saving less capital transfers 211.8 245.3 267.5 211.0 222.2 161.7 150.6 213.4 273.3 319.3 25

26 Net saving 211.4 245.3 267.5 211.0 221.3 161.7 138.1 213.4 273.2 312.7 26

27 Less: Capital transfers paid (net) -0.4 0.0 0.0 0.0 -0.9 0.0 -12.5 -0.0 -0.1 -6.7 27

28 Capital formation, net 242.2 250.0 332.2 338.4 364.2 403.0 236.9 152.2 157.0 208.4 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 721.5 782.5 860.6 915.2 991.2 1095.7 1057.4 941.2 960.0 1010.1 29

30 Less: Consumption of fixed capital 523.7 557.4 598.4 638.2 683.4 741.9 785.3 804.7 818.0 850.2 30

31 Acquisition of nonproduced nonfinancial assets 5.9 3.4 7.9 4.3 -0.8 -1.2 -0.9 -2.7 -2.1 -1.8 31

32 Change in private inventories 38.5 21.5 62.2 57.2 57.2 50.3 -34.3 18.3 17.1 50.3 32

33 Net lending (+) or borrowing (-), capital account (lines 25-28) -30.4 -4.8 -64.7 -127.4 -142.0 -241.2 -86.3 61.2 116.3 111.0 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -30.4 -4.8 -64.7 -127.4 -142.0 -241.2 -86.3 61.2 116.3 111.0 34

35 Net acquisition of financial assets 424.7 449.5 265.0 568.4 965.5 1203.9 175.7 138.6 86.1 779.1 35

36 Currency and deposits 9.7 23.2 18.3 19.7 74.8 63.1 -53.6 2.9 133.0 56.2 36

37 Currency and transferable deposits 4.6 -17.6 -11.3 -15.9 29.6 35.0 -53.8 -12.3 44.0 3.0 37

38 Time and savings deposits 3.3 30.0 34.7 28.2 44.3 35.5 8.8 10.2 71.5 37.7 38

39 Foreign deposits 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 39

40 Debt securities -8.8 0.7 -39.8 1.1 5.0 18.8 0.7 21.3 10.8 16.2 40

41 Open market paper 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 41

42 Treasury securities 6.3 -10.0 -20.2 -3.2 -4.2 -1.3 -1.3 14.5 2.3 0.3 42

43 Agency- and GSE-backed securities (1) 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -5.7 0.1 43

44 Municipal securities -19.9 -5.8 -3.6 -1.6 -0.7 6.9 -2.6 2.8 3.3 -3.6 44

45 Loans 0.3 -9.4 33.2 -18.4 -27.7 6.1 -5.6 6.9 -13.7 15.4 45

46 Short term (security repos and consumer credit) -1.3 -5.9 7.3 -5.4 -1.6 3.8 -8.7 3.9 -15.9 0.6 46

47 Long term (mortgages) 1.6 -3.6 25.9 -13.0 -26.0 2.3 3.1 2.9 2.2 14.8 47

48 Equity and investment fund shares 123.7 121.1 115.2 176.7 256.2 220.7 210.5 143.5 103.3 284.1 48

49 Money market fund shares 22.9 34.7 24.2 42.9 35.1 17.1 100.2 5.7 -30.4 10.3 49

50 Mutual fund shares 4.6 9.1 1.7 14.6 9.8 0.3 4.3 -0.2 5.8 -1.3 50

51 U.S. direct investment abroad 90.3 76.8 84.3 129.2 200.7 138.0 123.8 131.1 125.3 272.4 51

52 Equity in government-sponsored enterprises (1) 0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 52

53 Investment in finance company subsidiaries 5.9 0.6 4.9 -10.0 10.6 65.2 -17.8 6.9 2.6 2.6 53

54 Insurance, pension and standardized guarantee schemes (2) 8.5 2.8 2.1 2.3 1.4 0.0 10.8 18.1 19.0 19.7 54
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Historical Annuals, 1995-2004, September 18, 2014 141

S.5.a Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

55 Other accounts receivable 291.4 311.2 136.0 387.2 655.8 895.2 12.8 -54.0 -166.4 387.4 55

56 Trade receivables 78.0 88.1 88.0 87.3 209.2 281.6 -121.3 -98.4 -17.7 128.8 56

57 Other (miscellaneous assets) 213.4 223.1 47.9 299.8 446.6 613.6 134.1 44.4 -148.7 258.6 57

58 Net incurrence of liabilities 392.1 399.9 285.1 617.9 989.1 1238.3 97.9 88.3 13.4 614.1 58

59 Debt securities 79.6 89.9 145.4 237.5 249.3 200.5 213.8 27.3 38.9 13.8 59

60 Open market paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 60

61 Municipal securities 3.1 3.1 4.2 5.8 5.1 1.4 3.5 2.9 3.3 10.6 61

62 Corporate bonds 58.4 87.7 127.5 207.4 206.9 151.0 293.4 82.3 72.9 -12.1 62

63 Loans 105.3 72.0 133.9 141.5 124.2 157.9 -36.7 -24.3 -36.1 129.8 63

64 Short term 106.3 61.4 105.2 140.8 76.7 133.0 -102.9 -71.5 -84.1 55.0 64

65 Depository institution loans n.e.c. 77.3 43.8 55.1 80.7 48.6 55.2 -105.1 -103.4 -91.4 4.0 65

66 Other loans and advances 28.9 17.6 50.1 60.1 28.1 77.8 2.1 31.9 7.3 51.1 66

67 Long term (mortgages) -1.0 10.6 28.7 0.8 47.5 24.9 66.2 47.2 48.0 74.7 67

68 Equity and investment fund shares -3.5 24.2 21.6 -70.7 72.7 131.3 93.2 50.3 14.4 2.5 68

69 Corporate equities -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 69

70 Foreign direct investment in the United States 54.9 71.5 99.0 144.9 183.1 249.5 141.4 74.4 40.0 96.0 70

71 Insurance, pension and standardized guarantee schemes 85.2 88.4 104.2 109.4 96.9 98.9 102.4 82.4 56.4 81.2 71

72 Pension fund contributions payable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 72

73 Claim of pension fund on sponsor 79.7 83.0 95.8 96.6 115.3 118.0 126.9 80.8 56.6 84.3 73

74 Other accounts payable 125.5 125.4 -120.0 200.1 445.9 649.8 -274.8 -47.3 -60.2 386.8 74

75 Trade payables 81.2 49.7 65.3 57.7 178.5 312.6 -103.6 19.8 -54.7 97.7 75

76 Taxes payable -0.0 9.6 9.3 4.8 7.0 7.0 3.1 11.9 -11.7 6.8 76

77 Miscellaneous liabilities 44.3 66.1 -194.6 137.6 260.4 330.2 -174.2 -78.9 6.2 282.3 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-58) 32.7 49.6 -20.1 -49.5 -23.5 -34.5 77.7 50.3 72.7 165.0 78

 Other changes in volume account

79 Total other volume changes 177.6 129.1 178.9 417.0 447.3 897.6 -14.7 -174.7 118.9 267.2 79

80 Disaster losses -0.7 0.0 0.0 0.0 -1.4 0.0 -11.0 0.0 0.0 -9.2 80

81 Other volume changes 97.0 77.8 148.4 354.8 326.3 674.0 -159.6 -157.7 153.0 182.9 81

82 Less: Statistical discrepancy (lines 33-78) (3) -63.1 -54.4 -44.6 -77.9 -118.5 -206.8 -164.0 10.9 43.6 -54.0 82

83 Less: Inventory valuation adjustment -18.3 3.1 14.1 15.7 -4.0 -16.8 8.0 6.1 -9.6 -39.5 83

 Revaluation account

84 Nonfinancial assets 124.1 -1.4 689.1 399.7 143.6 578.1 -258.9 270.2 183.4 1316.0 84

85 Real estate 67.4 -16.9 707.1 438.3 112.1 545.4 -187.8 278.5 164.7 1198.8 85

86 Equipment 33.6 0.3 -26.3 -35.3 -21.1 -7.0 -35.0 -34.0 -24.5 64.9 86

87 Intellectual property products 17.1 8.0 13.1 11.5 29.6 25.3 -11.4 -1.3 21.5 10.9 87

88 Inventories 6.0 7.1 -4.8 -14.9 23.0 14.3 -24.7 27.0 21.6 41.4 88

89 Financial assets 12.7 18.8 -7.4 -12.7 28.8 -46.7 1.0 -26.8 26.1 89.2 89

90 Mutual fund shares 10.0 7.8 10.2 8.6 19.8 -9.6 -13.4 -17.9 18.2 11.9 90

91 Direct investment abroad 2.8 11.0 -17.6 -21.3 9.0 -37.1 14.4 -9.0 7.9 77.2 91

92 Liabilities 1664.7 426.8 1919.9 2419.7 3536.5 -1896.1 -1582.9 -2720.2 2667.9 1348.6 92

93 Corporate equity 1668.3 444.9 1947.6 2503.3 3624.9 -1914.2 -1527.8 -2632.1 2658.4 1336.8 93

94 Foreign direct investment in the United States -3.6 -18.0 -27.7 -83.6 -88.4 18.0 -55.1 -88.1 9.5 11.8 94

95 Changes in net worth due to nominal holding gains/losses -1527.8 -409.4 -1238.2 -2032.7 -3364.1 2427.5 1325.0 2963.5 -2458.5 56.6 95

 Changes in balance sheet account

96 Change in net worth (lines 28+33+79+95) (4) -1138.4 -35.1 -791.8 -1404.7 -2694.6 3486.8 1460.9 3002.2 -2066.3 643.1 96

 Balance sheet account (end of period)

97 Total assets 12226.6 12959.5 14289.8 16003.6 17774.7 20434.2 20520.1 20982.8 21494.0 23867.5 97

98 Nonfinancial assets (5) 7251.2 7487.0 8471.3 9178.8 9681.2 10673.4 10633.1 11041.2 11377.3 12930.2 98

99 Real estate 3223.0 3260.1 4021.9 4529.8 4715.6 5363.4 5279.3 5608.9 5814.9 7051.1 99

100 Equipment 2249.1 2368.6 2477.4 2582.5 2720.5 2888.8 2961.3 2975.8 3006.1 3145.4 100

101 Intellectual property products 700.1 753.8 824.2 892.2 986.6 1081.1 1119.5 1144.4 1195.9 1242.2 101

102 Inventories 1079.0 1104.5 1147.8 1174.3 1258.5 1340.0 1273.0 1312.2 1360.4 1491.6 102

103 Financial assets 4975.4 5472.5 5818.4 6824.8 8093.5 9760.8 9887.0 9941.6 10116.7 10937.3 103

104 Currency and deposits 323.8 346.9 365.2 384.9 459.7 522.7 469.2 472.1 605.1 661.3 104

105 Currency and transferable deposits 206.7 189.0 177.7 161.8 191.3 226.4 172.5 160.2 204.2 207.2 105

106 Time and savings deposits 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 106

107 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 107
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S.5.a Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

108 Debt securities 137.4 138.1 98.3 99.4 104.4 123.2 123.9 145.2 156.0 172.2 108

109 Open market paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 109

110 Treasury securities 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 33.7 34.0 110

111 Agency- and GSE-backed securities (1) 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 111

112 Municipal securities 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 112

113 Loans 145.4 136.0 169.2 150.8 123.1 129.2 123.7 130.5 116.8 132.2 113

114 Short term 87.5 81.6 89.0 83.6 81.9 85.7 77.0 81.0 65.1 65.6 114

115 Security repurchases 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 115

116 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 116

117 Long term (mortgages) 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 117

118 Equity and investment fund shares 907.0 1046.8 1154.6 1318.6 1603.6 1713.2 1924.7 2041.4 2170.6 2543.9 118

119 Money market fund shares 60.0 94.6 118.8 161.7 196.8 213.9 314.1 319.7 289.3 299.6 119

120 Mutual fund shares 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 120

121 U.S. direct investment abroad 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 121

122 Equity in government-sponsored enterprises (1) 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 122

123 Investment in finance company subsidiaries 22.5 23.0 28.0 18.0 28.6 29.4 11.6 18.5 21.0 23.6 123

124 Insurance, pension and standardized guarantee schemes (2) 186.5 189.3 191.4 193.7 195.0 195.1 205.9 224.0 243.0 262.7 124

125 Other accounts receivable 3275.3 3615.3 3839.7 4677.4 5607.6 7077.3 7039.7 6928.5 6825.1 7165.0 125

126 Trade receivables 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.5 1701.8 1830.6 126

127 Other (miscellaneous assets) 2090.4 2342.2 2478.6 3229.0 3950.0 5138.1 5221.7 5208.9 5123.3 5334.3 127

128 Total liabilities and net worth 12226.6 12959.5 14289.8 16003.6 17774.7 20434.2 20520.1 20982.8 21494.0 23867.5 128

129 Liabilities 12429.9 13197.9 15320.0 18438.5 22904.1 22076.9 20701.8 18162.3 20739.8 22470.2 129

130 Debt securities 1779.0 1868.8 2012.7 2250.2 2499.5 2700.0 2896.3 2923.5 2962.4 2987.1 130

131 Open market paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 131

132 Municipal securities 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 132

133 Corporate bonds 1486.9 1574.6 1702.1 1909.5 2116.4 2267.4 2560.8 2643.1 2716.0 2703.9 133

134 Loans 1309.0 1367.9 1501.3 1642.8 1801.4 1959.3 1923.2 1898.8 1876.9 2006.6 134

135 Short term 1098.7 1147.1 1251.7 1392.5 1469.2 1602.2 1499.9 1428.3 1356.3 1411.3 135

136 Depository institution loans n.e.c. 631.5 662.3 716.9 797.5 846.1 901.3 796.8 693.4 614.1 618.0 136

137 Other loans and advances 467.2 484.8 534.9 595.0 623.1 700.9 703.0 734.9 742.2 793.3 137

138 Long term (mortgages) 210.2 220.8 249.5 250.3 332.2 357.1 423.3 470.5 520.6 595.3 138

139 Equity and investment fund shares 7058.0 7509.1 9431.0 11780.0 15389.3 13624.4 12134.8 9464.9 12147.2 13498.4 139

140 Corporate equity 6406.8 6804.3 8674.5 10962.3 14476.8 12444.5 10868.6 8212.3 10845.2 12088.6 140

141 Foreign direct investment in the United States 651.3 704.8 756.4 817.8 912.5 1180.0 1266.2 1252.5 1302.0 1409.8 141

142 Insurance, pension and standardized guarantee schemes -10.4 -70.8 -176.9 -187.3 -284.6 -120.5 160.2 389.7 78.0 80.9 142

143 Pension fund contributions payable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 143

144 Claim of pension fund on sponsor -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 144

145 Other accounts payable 2294.4 2522.9 2551.9 2952.7 3498.5 3913.6 3587.4 3485.4 3675.3 3897.1 145

146 Trade payables 878.6 928.3 993.6 1051.2 1229.8 1542.4 1438.8 1458.6 1403.9 1501.5 146

147 Taxes payable 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 147

148 Miscellaneous liabilities 1375.4 1544.7 1499.1 1837.4 2197.7 2293.2 2067.6 1933.9 2190.2 2307.6 148

149 Net worth -203.3 -238.4 -1030.2 -2434.9 -5129.5 -1642.7 -181.7 2820.5 754.2 1397.3 149

Notes. Nonfinancial corporate business includes corporate farms that are excluded from the nonfinancial corporate business sector in the Financial Accounts of the United States.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) Net equity in reserves of property-casualty insurance companies.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Financial Accounts of the United States.

(5) Excludes nonproduced nonfinancial assets.

n.e.c. Not elsewhere classified
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Historical Annuals, 1995-2004, September 18, 2014 143

S.6.a Financial Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 501.0 558.2 630.8 707.5 743.8 821.9 847.2 849.0 885.6 922.1 1

 2 Less: Consumption of fixed capital 73.5 76.1 79.6 85.5 96.2 108.3 115.6 122.1 130.0 139.3 2

 3 Equals: Net value added 427.5 482.1 551.2 622.0 647.6 713.5 731.6 726.9 755.6 782.8 3

 4 Compensation of employees (paid) 279.9 304.1 333.7 375.3 399.2 440.6 445.6 444.0 460.5 498.5 4

 5 Wages and salaries 233.6 257.2 284.0 319.7 341.7 378.8 375.1 371.1 390.6 423.0 5

 6 Employers’ social contributions 46.3 46.9 49.7 55.6 57.5 61.9 70.5 72.9 69.9 75.5 6

 7 Taxes on production and imports less subsidies 29.3 30.9 33.1 33.5 35.9 36.8 37.6 39.9 42.9 46.6 7

 8 Operating surplus, net 118.2 147.1 184.4 213.2 212.5 236.0 248.4 243.0 252.2 237.7 8

 9 Net national income/Balance of primary incomes, net 99.4 91.4 94.0 96.7 98.8 92.4 164.9 207.0 206.6 213.1 9

10 Operating surplus, net 118.2 147.1 184.4 213.2 212.5 236.0 248.4 243.0 252.2 237.7 10

11 Property income (received) 1266.4 1301.1 1410.5 1511.9 1600.8 1864.2 1807.0 1562.8 1501.3 1742.7 11

12 Interest 1171.3 1190.5 1286.9 1382.0 1461.1 1720.5 1667.8 1418.0 1338.0 1533.2 12

13 Distributed income of corporations (dividends) 86.5 102.1 114.1 122.1 129.1 129.9 128.0 130.6 142.2 179.4 13

14 Reinvested earnings on U.S. direct investment abroad 8.6 8.5 9.5 7.8 10.6 13.8 11.3 14.3 21.1 30.1 14

15 Less: Uses of property income (paid) 1285.2 1356.9 1500.9 1628.4 1714.5 2007.8 1890.5 1598.8 1546.8 1767.3 15

16 Interest 1121.3 1151.0 1267.2 1386.5 1445.7 1712.6 1625.2 1316.2 1243.5 1394.0 16

17 Distributed income of corporations 163.7 205.6 232.7 241.7 267.8 295.2 270.8 282.3 300.9 364.1 17

18 Dividends 134.6 167.7 190.4 195.9 210.8 234.0 212.5 228.1 250.7 316.7 18

19 Withdrawals from income of quasi-corporations (1) 29.1 37.9 42.4 45.8 57.0 61.2 58.3 54.2 50.1 47.4 19

20 Reinvested earnings on foreign direct investment 0.1 0.3 0.9 0.2 1.0 0.0 -5.6 0.3 2.5 9.3 20

21 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net 99.4 91.4 94.0 96.7 98.8 92.4 164.9 207.0 206.6 213.1 22

23 Less: Current taxes on income, wealth, etc. (paid) 77.5 78.5 84.1 89.7 87.4 94.9 92.1 95.2 110.9 119.1 23

24 Less: Other current transfers (paid) 7.1 7.0 -3.4 19.3 9.1 27.8 30.8 10.5 -9.7 -6.5 24

25 Equals: Disposable income, net 14.8 5.8 13.4 -12.4 2.3 -30.3 42.1 101.3 105.5 100.5 25

26 Equals: Net saving 14.8 5.8 13.4 -12.4 2.3 -30.3 42.1 101.3 105.5 100.5 26

 Capital account

27 Net saving less capital transfers 12.9 5.8 13.4 -12.4 0.5 -30.3 34.3 101.3 105.5 84.3 27

28 Net saving 14.8 5.8 13.4 -12.4 2.3 -30.3 42.1 101.3 105.5 100.5 28

29 Less: Capital transfers paid (net) 1.9 0.0 0.0 0.0 1.7 0.0 7.7 0.0 0.0 16.2 29

30 Capital formation, net 25.2 33.8 36.1 54.4 58.5 50.5 38.5 33.8 26.5 37.2 30

31 Gross fixed capital formation (nonresidential) 98.7 109.9 115.7 139.9 154.7 158.8 154.1 155.9 156.5 176.5 31

32 Less: Consumption of fixed capital 73.5 76.1 79.6 85.5 96.2 108.3 115.6 122.1 130.0 139.3 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) -12.3 -28.0 -22.8 -66.7 -57.9 -80.8 -4.2 67.5 78.9 47.1 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -12.3 -28.0 -22.8 -66.7 -57.9 -80.8 -4.2 67.5 78.9 47.1 34

35 Net acquisition of financial assets 1723.7 1804.5 2322.4 2721.2 2818.5 2758.6 3261.1 2613.9 3246.9 3769.0 35

36 Monetary gold -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 0.0 36

37 Currency and deposits 47.5 53.1 59.0 57.6 39.1 -2.0 170.9 -9.8 -47.2 43.8 37

38 Debt securities 543.9 415.9 709.9 919.2 929.3 485.4 987.1 871.5 1143.1 485.5 38

39 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 39

40 Open market paper 35.3 52.4 144.0 140.4 205.8 164.5 -196.5 -130.2 -89.3 61.1 40

41 Treasury securities 61.4 -64.4 76.8 -46.6 -60.0 -16.2 45.7 190.0 88.0 -42.3 41

42 Agency- and GSE-backed securities (2) 192.1 132.3 150.3 352.8 401.0 218.2 639.8 516.3 432.6 -209.6 42

43 Municipal securities 24.8 38.8 38.2 85.2 25.4 10.3 67.6 69.6 110.7 79.5 43

44 Corporate and foreign bonds 207.3 202.2 260.8 346.2 319.0 91.7 369.7 201.4 576.4 555.9 44

45 Nonmarketable government securities 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 45

46 Loans 704.8 619.6 767.2 898.7 1146.3 1013.0 927.6 1040.9 1151.7 1879.5 46

47 Short term 500.5 336.0 470.0 409.6 555.1 455.1 228.5 144.1 162.2 665.4 47

48 Long term (mortgages) 204.4 283.6 297.2 489.1 591.2 557.9 699.2 896.8 989.5 1214.1 48

49 Equity and investment fund shares 239.9 409.6 355.4 513.6 401.5 804.3 786.7 409.6 338.0 665.3 49

50 Corporate equities 56.4 160.2 103.7 156.6 72.4 440.1 452.5 174.6 254.2 332.6 50

51 Mutual fund shares 84.0 58.7 88.2 91.2 84.0 165.6 87.0 108.1 8.1 101.8 51

52 Money market mutual fund shares 11.5 77.9 53.3 101.0 100.4 37.8 147.7 -1.6 -78.0 -110.3 52

53 Equity in government-sponsored enterprises (2) 2.0 1.4 1.8 4.0 6.1 2.2 2.8 1.9 2.5 2.4 53

54 U.S. direct investment abroad 8.4 15.1 20.5 13.5 24.2 21.2 18.6 23.4 24.3 43.8 54

55 Stock in Federal Reserve Banks 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 55

56 Investment in subsidiaries 77.2 95.7 87.0 146.8 113.9 136.8 77.7 102.2 126.4 291.9 56
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S.6.a Financial Business

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1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

57 Insurance, pension and standardized guarantee schemes 168.4 157.4 182.3 198.6 218.1 158.2 152.7 209.4 304.5 265.6 57

58 Other accounts receivable 19.1 148.9 248.6 133.4 84.2 299.7 236.1 92.4 356.9 429.3 58

59 Net incurrence of liabilities 1604.3 1813.3 2306.2 2714.1 2786.5 2854.0 3262.4 2613.6 3057.0 3815.8 59

60 Currency and deposits 137.8 189.2 251.3 231.3 335.4 220.0 441.0 355.6 450.3 601.8 60

61 Debt securities 428.2 465.5 510.3 879.4 918.1 740.3 823.4 845.7 1010.5 805.8 61

62 Agency- and GSE-backed securities (2) 204.3 231.4 213.7 471.6 593.3 434.9 642.7 546.7 586.2 115.8 62

63 Corporate bonds 181.2 141.9 130.0 246.8 148.6 173.7 307.5 399.0 487.8 668.3 63

64 Commercial paper 42.7 92.2 166.7 161.0 176.2 131.7 -126.9 -99.9 -63.5 21.7 64

65 Loans 229.8 186.1 338.5 210.6 256.4 390.4 267.0 237.4 324.7 609.9 65

66 Short term 224.5 178.3 323.5 185.8 249.2 385.7 264.8 226.2 315.8 584.4 66

67 Long term (mortgages) 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 67

68 Equity and investment fund shares 365.3 470.8 495.6 739.2 677.6 800.9 762.2 351.9 250.5 649.7 68

69 Money market mutual fund shares 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 69

70 Corporate equity issues -7.2 -21.3 -27.9 3.5 1.7 17.1 39.9 71.5 66.0 118.1 70

71 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 71

72 Equity in government-sponsored enterprises (2) 2.0 1.5 1.8 4.1 6.1 2.2 3.3 2.0 3.2 2.5 72

73 Foreign direct investment in the United States 3.0 14.7 6.1 34.0 105.7 71.8 25.7 9.6 23.9 50.2 73

74 Equity in noncorporate business -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 74

75 Investment by parent 79.2 92.1 92.7 137.4 120.3 234.5 63.2 109.7 84.9 320.1 75

76 Stock in Federal Reserve Banks 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 76

77 Insurance, pension and standardized guarantee schemes 401.9 375.7 479.2 548.2 451.9 495.8 588.4 609.3 733.0 747.2 77

78 Other accounts payable 41.2 125.9 231.4 105.4 147.0 206.6 380.5 213.7 288.1 401.4 78

 Addendum:

79 Net lending (+) or borrowing (-), financial account (lines 35-59) 119.4 -8.8 16.2 7.2 32.0 -95.4 -1.3 0.3 189.9 -46.7 79

 Other changes in volume account

80 Total other volume changes -296.0 -286.8 -388.2 -206.1 -451.9 521.5 330.0 556.5 -697.3 -418.3 80

81 Disaster losses -0.0 0.0 0.0 0.0 -0.0 0.0 -3.8 0.0 0.0 -1.7 81

82 Other volume changes -427.6 -306.0 -427.1 -280.0 -541.8 536.0 330.9 623.7 -808.3 -322.8 82

83 Less: Statistical discrepancy (lines 33-79) (3) -131.7 -19.2 -39.0 -73.9 -89.9 14.6 -2.9 67.2 -111.0 93.8 83

 Revaluation account

84 Nonfinancial assets 4.8 -4.8 3.4 5.4 13.9 15.1 1.3 2.0 1.5 51.0 84

85 Structures (nonresidential) 9.1 10.5 19.5 21.9 20.2 18.1 17.1 15.2 13.5 53.9 85

86 Equipment -4.1 -14.1 -15.3 -16.1 -7.0 -3.7 -13.6 -9.8 -8.0 1.6 86

87 Intellectual property products -0.2 -1.1 -0.8 -0.5 0.7 0.7 -2.2 -3.4 -4.0 -4.6 87

88 Financial assets 912.4 786.3 1212.0 1038.6 1648.5 -1022.4 -1291.5 -1631.5 2178.7 1196.7 88

89 Corporate equities 819.9 708.3 1066.7 930.6 1397.6 -957.1 -1043.0 -1479.7 1873.2 1007.1 89

90 Mutual fund shares 95.2 76.7 154.2 101.5 266.4 -60.5 -253.4 -180.2 275.6 139.0 90

91 U.S. direct investment abroad -2.6 1.4 -8.9 6.6 -15.6 -4.8 4.8 28.4 30.0 50.6 91

92 Liabilities 895.0 1129.8 1555.7 782.5 1116.6 -225.2 -1133.6 -1457.0 2079.2 1167.0 92

93 Corporate equity issues 397.3 675.0 829.7 173.8 2.0 340.2 -170.2 -366.9 795.9 459.1 93

94 Mutual fund shares 228.0 252.0 381.9 344.2 734.1 -343.0 -502.6 -678.1 726.8 483.8 94

95 Foreign direct investment in the United States 9.8 -3.8 1.3 1.1 -18.9 -19.7 -14.6 -15.1 8.4 4.0 95

96 Equity in noncorporate business 0.8 0.8 1.9 1.5 0.7 0.3 -2.2 -1.9 11.4 2.4 96

97 Pension fund reserves 259.1 205.8 341.0 261.9 398.7 -203.0 -444.1 -395.0 536.7 217.7 97

98 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 98

99 Changes in net worth due to nominal holding gains/losses 22.3 -348.2 -340.3 261.4 545.8 -782.1 -156.6 -172.5 101.0 80.7 99

 Changes in balance sheet account

100 Change in net worth (lines 30+33+80+99) -260.8 -629.2 -715.2 43.0 94.4 -291.0 207.8 485.3 -490.9 -253.3 100

 Balance sheet account (end of period)

101 Total assets 23848.5 26173.6 29483.4 33040.2 37174.3 39538.6 41981.4 43524.7 48067.3 53012.4 101

102 Nonfinancial assets (4) 733.1 763.3 804.1 865.4 939.6 1007.7 1047.0 1087.1 1120.5 1213.4 102

103 Structures (nonresidential) 416.5 437.9 471.6 505.6 537.1 566.3 593.6 612.1 627.4 684.4 103

104 Equipment 275.6 284.3 290.8 311.7 343.3 370.2 375.8 387.9 398.0 424.7 104

105 Intellectual property products 41.1 41.2 41.8 48.0 59.2 71.2 77.7 87.1 95.2 104.3 105
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Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

106 Financial assets 23115.4 25410.3 28679.3 32174.8 36234.7 38530.9 40934.4 42437.6 46946.8 51799.0 106

107 Monetary gold 11.1 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 107

108 Currency and deposits 385.6 440.6 505.5 565.1 602.2 617.6 787.0 779.3 734.8 779.8 108

109 Debt securities 7278.4 7667.9 8362.3 9281.6 10213.3 10730.2 11769.0 12638.5 13616.6 14134.0 109

110 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 110

111 Open market paper 525.7 578.1 714.4 854.8 1060.6 1225.1 1080.3 948.1 856.3 929.2 111

112 Treasury securities 1584.3 1493.6 1529.6 1483.0 1423.7 1389.8 1435.5 1625.5 1637.6 1595.3 112

113 Agency- and GSE-backed securities (2) 1891.7 2024.1 2178.3 2531.2 2932.5 3155.7 3795.5 4311.7 4579.8 4390.2 113

114 Municipal securities 686.7 725.5 780.6 865.8 891.2 903.1 970.7 1040.3 1151.0 1230.5 114

115 Corporate and foreign bonds 2073.4 2275.5 2548.6 2894.8 3215.1 3349.3 3719.1 3920.4 4574.8 5130.7 115

116 Nonmarketable government securities 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 116

117 Loans 8136.4 8756.0 9522.7 10421.4 11566.8 12651.9 13580.1 14621.6 15822.5 17716.9 117

118 Short term 3975.9 4298.9 4768.3 5177.9 5733.0 6260.2 6489.2 6633.9 6833.5 7498.9 118

119 Long term (mortgages) 4160.5 4457.2 4754.3 5243.5 5833.8 6391.7 7090.9 7987.7 8989.0 10218.0 119

120 Equity and investment fund shares 4914.4 6110.4 7755.6 9307.8 11357.8 11409.6 10896.6 9674.7 12191.4 14053.4 120

121 Corporate equities 3536.2 4404.7 5592.0 6679.2 8149.2 7902.2 7311.7 6006.6 8134.0 9473.7 121

122 Mutual fund shares 459.2 594.6 898.0 1090.6 1441.1 1546.2 1379.9 1307.7 1591.4 1832.2 122

123 Money market fund shares 176.1 254.0 307.3 408.3 508.7 546.5 694.2 692.6 614.7 504.4 123

124 Equity in government-sponsored enterprises (2) 15.1 16.5 18.3 22.3 28.4 30.5 33.3 35.2 37.7 40.1 124

125 U.S. direct investment abroad 106.8 123.3 134.9 155.0 163.6 180.0 203.4 255.1 309.4 403.8 125

126 Stock in Federal Reserve Banks 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 126

127 Investment in subsidiaries 617.0 712.6 799.6 946.5 1060.4 1197.2 1266.8 1369.0 1495.4 1787.3 127

128 Insurance, pension and standardized guarantee schemes 1424.2 1303.3 1151.7 1078.1 884.9 1232.4 1754.7 2444.6 2052.7 2284.9 128

129 Other accounts receivable 965.4 1121.0 1370.4 1509.9 1598.7 1878.2 2135.9 2267.9 2517.8 2819.1 129

130 Total liabilities and net worth 23848.5 26173.6 29483.4 33040.2 37174.3 39538.6 41981.4 43524.7 48067.3 53012.4 130

131 Liabilities 23659.3 26613.6 30638.6 34152.4 38192.1 40847.4 43082.4 44140.4 49173.9 54372.3 131

132 Currency and deposits 4341.4 4530.4 4781.6 5012.9 5348.4 5568.4 6040.9 6396.5 6846.8 7474.0 132

133 Debt securities 4023.1 4488.6 4978.8 5858.3 6776.4 7517.7 8467.3 9313.0 10158.8 10979.4 133

134 Agency- and GSE-backed securities (2) 2377.7 2609.2 2822.8 3294.4 3887.7 4319.7 4962.3 5509.0 5944.5 6060.3 134

135 Corporate bonds 1158.5 1300.4 1410.3 1657.1 1805.7 1983.4 2407.1 2806.2 3279.9 3963.1 135

136 Commercial paper 486.9 579.1 745.7 906.7 1082.9 1214.7 1097.8 997.9 934.4 956.0 136

137 Loans 1647.8 1834.0 2172.4 2383.0 2637.1 3027.5 3294.5 3531.9 3872.5 4482.5 137

138 Short term 1623.8 1802.1 2125.6 2311.4 2558.3 2944.0 3208.7 3434.9 3766.7 4351.1 138

139 Long term (mortgages) 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 139

140 Equity and investment fund shares 4552.5 5947.4 7677.3 8937.1 10332.6 11047.0 11111.5 10401.4 12194.3 13793.2 140

141 Money market fund shares 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 141

142 Corporate equity issues 1284.0 1937.7 2739.5 2916.8 2920.4 3277.7 3147.3 2852.0 3713.9 4291.1 142

143 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 143

144 Equity in government-sponsored enterprises (2) 18.3 19.7 21.5 25.5 31.6 33.8 37.1 39.1 42.3 44.8 144

145 Foreign direct investment in the United States 26.0 36.8 63.8 98.9 185.7 237.8 249.0 243.5 275.7 329.9 145

146 Equity in noncorporate business 5.4 6.5 9.5 9.6 11.5 11.7 6.2 5.0 13.0 11.2 146

147 Investment by parent 620.9 713.0 805.7 943.2 1063.5 1233.7 1288.9 1398.6 1483.4 1803.4 147

148 Stock in Federal Reserve Banks 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 148

149 Insurance, pension and standardized guarantee schemes 8162.3 8763.9 9753.6 10671.7 11614.6 11912.4 12138.4 12331.7 13658.9 14949.6 149

150 Other accounts payable 932.2 1049.4 1274.8 1289.4 1483.0 1774.4 2029.8 2165.9 2442.6 2693.6 150

151 Net worth 189.2 -440.0 -1155.2 -1112.2 -1017.7 -1308.7 -1101.0 -615.7 -1106.6 -1359.9 151

Notes. Financial business includes depository institutions, insurance companies and pension funds, monetary authority, and other financial institutions.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.

SDRs Special Drawing Rights
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146 Historical Annuals, 1995-2004, September 18, 2014

S.7.a Federal Government

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 385.5 385.5 390.4 395.5 405.6 423.1 431.0 462.6 498.1 525.8 1

 2 Less: Consumption of fixed capital 151.9 152.4 153.0 153.6 156.8 161.5 163.3 165.0 170.3 178.6 2

 3 Equals: Net value added 233.6 233.1 237.3 242.0 248.8 261.6 267.7 297.6 327.8 347.2 3

 4 Compensation of employees (paid) 228.6 228.6 230.8 234.4 241.6 256.3 264.9 290.7 321.1 342.3 4

 5 Wages and salaries 173.7 174.6 176.3 178.9 183.5 195.0 199.6 217.4 234.8 249.9 5

 6 Employers’ social contributions 54.9 54.0 54.5 55.5 58.1 61.3 65.3 73.3 86.3 92.4 6

 7 Operating surplus, net 5.0 4.5 6.6 7.6 7.2 5.3 2.8 6.9 6.7 4.9 7

 8 Net national income/Balance of primary incomes, net -282.4 -290.9 -289.1 -291.7 -285.3 -280.9 -267.8 -227.7 -221.2 -226.6 8

 9 Operating surplus, net 5.0 4.5 6.6 7.6 7.2 5.3 2.8 6.9 6.7 4.9 9

10 Taxes on production and imports, receivable 75.6 72.9 77.8 80.7 83.4 87.3 85.3 86.8 90.2 95.2 10

11 Subsidies (paid) -34.5 -34.9 -33.4 -35.9 -44.8 -45.3 -51.1 -40.5 -49.0 -46.0 11

12 Property income (received) 23.8 26.6 25.5 21.5 21.1 25.6 26.4 21.8 23.5 25.3 12

13 Interest 20.8 22.5 21.0 17.3 17.1 19.3 18.0 15.3 16.5 16.6 13

14 Distributed income of corporations (dividends) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 14

15 Rents on land and natural resources 3.0 4.1 4.5 4.2 4.0 6.3 8.4 6.5 7.0 8.7 15

16 Less: Uses of property income (interest paid) 352.3 360.0 365.6 365.6 352.2 353.7 331.2 302.7 292.6 306.1 16

17 Net national income/Balance of primary incomes, net -282.4 -290.9 -289.1 -291.7 -285.3 -280.9 -267.8 -227.7 -221.2 -226.6 17

18 Plus: Current taxes on income, wealth, etc. (received) 769.0 859.1 952.2 1035.1 1111.9 1222.3 1164.1 986.5 980.8 1058.8 18

19 Plus: Social benefits (received) 521.9 545.4 579.4 617.4 654.8 698.6 723.3 739.4 763.2 808.9 19

20 Less: Social contributions (paid) 649.4 684.5 710.0 724.4 743.8 777.8 845.7 922.8 973.1 1025.5 20

21 Plus: Other current transfers (received) 17.5 22.7 20.1 21.5 22.3 24.1 24.9 24.4 25.5 29.0 21

22 Less: Other current transfers (paid) 189.9 201.8 205.1 218.8 237.8 254.7 279.0 310.0 349.7 362.4 22

23 Equals: Disposable income, net 186.8 249.9 347.5 439.2 522.2 631.6 519.8 289.8 225.6 282.2 23

24 Less: Final consumption expenditures 427.7 428.4 438.7 436.4 455.6 475.1 505.4 560.3 628.5 681.4 24

25 Equals: Net saving -240.8 -178.5 -91.2 2.7 66.6 156.5 14.5 -270.5 -402.9 -399.2 25

 Capital account

26 Net saving less capital transfers -253.8 -189.4 -99.8 -1.0 58.8 147.6 -0.1 -294.9 -444.0 -438.6 26

27 Net saving -240.8 -178.5 -91.2 2.7 66.6 156.5 14.5 -270.5 -402.9 -399.2 27

28 Less: Capital transfers paid (net) 13.0 10.9 8.7 3.8 7.8 8.9 14.6 24.4 41.1 39.3 28

29 Capital formation, net -12.1 -7.4 -18.1 -11.9 -3.2 -4.7 -0.9 15.0 25.1 31.6 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 147.7 149.8 143.7 147.7 154.9 157.4 163.8 180.3 196.4 211.0 30

31 Less: Consumption of fixed capital 151.9 152.4 153.0 153.6 156.8 161.5 163.3 165.0 170.3 178.6 31

32 Acquisition of nonproduced nonfinancial assets -7.9 -4.8 -8.8 -6.0 -1.2 -0.6 -1.5 -0.3 -0.9 -0.8 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -241.6 -182.0 -81.7 10.9 62.0 152.3 0.8 -309.9 -469.1 -470.1 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -241.6 -182.0 -81.7 10.9 62.0 152.3 0.8 -309.9 -469.1 -470.1 34

35 Net acquisition of financial assets -29.5 7.4 -2.7 -4.4 75.0 -68.8 53.3 8.4 35.1 5.3 35

36 Monetary gold and SDRs 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 36

37 Monetary gold 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 37

38 SDR holdings 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 38

39 Currency and deposits 6.1 9.8 2.5 -9.6 60.4 -65.5 49.1 2.9 -17.1 -34.5 39

40 Official foreign currencies 3.2 -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 0.3 0.3 40

41 Reserve position in IMF (net) 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 41

42 Currency and transferable deposits -0.0 11.0 -0.5 -16.7 66.2 -65.1 41.1 -17.1 9.3 -31.0 42

43 Time and savings deposits 0.3 1.4 1.0 1.3 0.7 1.0 4.2 17.1 -25.2 -0.0 43

44 Nonofficial foreign currencies 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.0 0.0 44

45 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 Loans -24.7 3.9 11.3 5.6 4.3 8.1 3.9 8.0 -2.4 2.3 48

49 Short term -11.1 11.1 15.9 6.4 4.4 8.9 5.0 7.5 0.0 0.7 49

50 Consumer credit 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 50

51 Other loans and advances -13.5 2.6 5.9 -2.4 -7.0 -2.8 -7.8 -0.5 -1.8 -3.0 51

52 Long term (mortgages) -13.5 -7.2 -4.5 -0.8 -0.1 -0.9 -1.1 0.5 -2.5 1.6 52

53 Equity and investment fund shares 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 53

54 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

55 Equity in international organizations 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 55

56 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57
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1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

58 Other accounts receivable -13.3 -7.8 -18.6 -2.1 8.9 -13.6 -2.1 -4.5 53.8 35.1 58

59 Trade receivables -1.6 0.9 -3.2 1.5 4.6 5.3 7.3 -3.3 19.1 10.5 59

60 Taxes receivable -7.9 -0.3 -10.3 -9.3 1.2 -22.0 -9.8 -2.8 34.4 23.3 60

61 Other (miscellaneous assets) -3.8 -8.4 -5.0 5.7 3.0 3.1 0.4 1.5 0.4 1.4 61

62 Net incurrence of liabilities 224.4 201.4 84.3 3.9 -3.3 -215.9 65.8 350.4 566.0 479.4 62

63 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 63

64 Currency and deposits 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 64

65 Debt securities 167.4 199.6 62.9 -11.4 -33.1 -279.0 55.2 282.1 420.7 402.8 65

66 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 66

67 Treasury securities including savings bonds 142.9 146.6 23.2 -54.6 -71.0 -294.9 -5.1 257.1 398.4 362.5 67

68 Federal agency securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 68

69 Nonmarketable securities held by pension plans 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 40.9 69

70 Loans (mortgages) 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 70

71 Insurance, pension and standardized guarantee schemes 56.3 3.5 29.0 29.4 31.5 53.0 13.9 66.7 75.6 59.5 71

72 Insurance reserves 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 72

73 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 19.6 17.4 73

74 Claims of pension fund on sponsor 55.3 2.9 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 74

75 Other accounts payable 0.0 -2.2 -8.0 -14.7 -2.7 7.6 -4.6 0.6 69.1 16.4 75

76 Trade payables -4.5 1.1 -8.3 -7.6 0.2 5.7 3.2 1.0 71.7 15.4 76

77 Other (miscellaneous liabilities) 4.5 -3.3 0.3 -7.1 -2.9 2.0 -7.8 -0.4 -2.6 1.0 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-62) -253.9 -194.0 -87.0 -8.3 78.4 147.1 -12.5 -342.0 -530.9 -474.1 78

 Other changes in volume account

79 Total other volume changes 6.9 62.4 12.7 -17.8 35.3 20.7 -10.8 -22.8 -95.0 -28.2 79

80 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 Other volume changes 19.1 74.4 18.0 1.4 18.9 25.9 2.5 9.3 -33.3 -24.2 81

82 Less: Statistical discrepancy (lines 33-78) (2) 12.3 12.0 5.3 19.2 -16.4 5.2 13.3 32.1 61.8 4.0 82

 Revaluation account

83 Nonfinancial assets 46.9 32.0 36.4 39.5 62.8 48.8 23.5 33.5 45.2 114.8 83

84 Structures 28.1 26.5 28.3 23.9 34.4 37.2 27.7 25.1 25.3 91.6 84

85 Equipment 5.4 -0.8 -1.8 6.1 13.2 -1.5 -4.7 3.9 4.0 10.9 85

86 Intellectual property products 13.4 6.3 9.9 9.4 15.1 13.1 0.5 4.6 16.0 12.2 86

87 Financial assets 0.3 -0.8 -1.6 1.4 -0.9 -1.3 -1.0 2.4 3.1 1.3 87

88 Monetary gold and SDRs 0.2 -0.4 -0.6 0.4 -0.3 -0.5 -0.4 0.9 1.1 0.5 88

89 Currency and deposits 0.2 -0.5 -0.9 0.9 -0.7 -0.8 -0.6 1.5 2.1 0.8 89

90 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 90

91 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 91

92 Liabilities 0.1 -0.2 -0.4 0.3 -0.2 -0.3 -0.2 0.5 0.6 0.3 92

93 SDR allocations 0.1 -0.2 -0.4 0.3 -0.2 -0.3 -0.2 0.5 0.6 0.3 93

94 Changes in net worth due to nominal holding gains/losses 47.2 31.4 35.2 40.5 62.0 47.8 22.7 35.5 47.7 115.7 94

 Changes in balance sheet account

95 Change in net worth (lines 29+33+79+94) -199.7 -95.6 -51.9 21.6 156.2 216.1 11.8 -282.2 -491.3 -351.1 95

 Balance sheet account (end of period)

96 Total assets 2225.8 2335.0 2366.0 2399.1 2560.0 2557.6 2643.9 2712.3 2790.1 2917.7 96

97 Nonfinancial assets (3) 1794.1 1823.5 1850.2 1883.3 1943.8 1987.7 2011.3 2059.5 2130.4 2277.1 97

98 Structures 774.3 804.1 833.3 858.3 892.8 927.0 950.9 974.5 999.1 1088.2 98

99 Equipment 486.6 480.4 468.2 465.3 473.5 465.8 456.5 463.7 474.9 498.3 99

100 Intellectual property products 533.2 539.0 548.7 559.7 577.5 594.9 603.9 621.4 656.3 690.6 100

101 Financial assets 431.7 511.5 515.9 515.8 616.2 569.9 632.6 652.8 659.7 640.6 101

102 Monetary gold and SDRs 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 102

103 Monetary gold 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 SDR holdings 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 104
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1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

105 Currency and deposits 68.1 77.4 79.0 70.3 130.0 63.7 112.3 116.7 101.7 67.9 105

106 Official foreign currencies 28.0 19.0 13.8 16.2 16.0 15.6 14.4 16.7 19.7 21.1 106

107 Reserve position in IMF (net) 14.7 15.5 18.2 24.2 18.1 14.9 18.0 22.1 22.7 19.6 107

108 Currency and transferable deposits 22.2 38.3 41.6 23.2 87.9 24.3 66.9 47.7 54.3 22.2 108

109 Time and savings deposits 0.9 2.4 3.4 4.7 5.4 6.3 10.5 27.6 2.4 2.4 109

110 Nonofficial foreign currencies 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.6 2.6 110

111 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 111

112 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112

113 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 113

114 Loans 197.6 201.6 213.1 218.8 256.3 263.1 267.0 275.0 272.6 274.8 114

115 Short term 140.1 151.3 167.3 173.9 178.5 187.5 192.4 199.9 200.0 200.7 115

116 Consumer credit 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 116

117 Other loans and advances 130.9 133.7 139.7 137.4 130.6 127.8 120.0 119.4 117.6 114.6 117

118 Long term (mortgages) 57.5 50.3 45.7 44.9 77.7 75.7 74.5 75.1 72.6 74.2 118

119 Equity and investment fund shares 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 119

120 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 120

121 Equity in international organizations 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 121

122 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 123

124 Other accounts receivable 127.5 193.0 183.0 183.7 185.7 197.1 205.5 210.4 232.8 242.3 124

125 Trade receivables 23.1 24.0 20.8 22.3 22.9 28.1 35.5 32.2 51.3 61.8 125

126 Taxes receivable 17.3 90.2 88.4 82.0 80.3 83.3 84.0 90.7 93.7 91.2 126

127 Other (miscellaneous assets) 87.2 78.8 73.8 79.5 82.6 85.7 86.0 87.6 87.9 89.3 127

128 Total liabilities and net worth 2225.8 2335.0 2366.0 2399.1 2560.0 2557.6 2643.9 2712.3 2790.1 2917.7 128

129 Liabilities 5362.8 5567.7 5650.6 5662.1 5666.8 5448.2 5522.7 5873.3 6442.4 6921.1 129

130 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 130

131 Currency and deposits 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 131

132 Debt securities 4153.2 4352.8 4415.7 4404.3 4371.2 4092.2 4147.4 4429.5 4850.2 5253.1 132

133 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 133

134 Treasury securities including savings bonds 3608.5 3755.1 3778.3 3723.7 3652.7 3357.8 3352.7 3609.8 4008.2 4370.7 134

135 Federal agency securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 135

136 Nonmarketable securities held by pension plans 506.3 561.4 601.7 642.9 684.0 704.9 765.8 790.3 815.0 855.9 136

137 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 137

138 Insurance, pension and standardized guarantee schemes 1096.4 1099.7 1128.6 1158.1 1189.4 1242.4 1257.5 1323.7 1399.4 1459.1 138

139 Insurance reserves 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 139

140 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 35.0 52.4 140

141 Claims of pension fund on sponsor 1066.5 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 141

142 Other accounts payable 87.6 89.3 80.4 72.9 78.6 84.1 87.1 87.9 159.4 174.6 142

143 Trade payables 80.9 82.0 73.8 66.2 72.0 77.7 80.9 81.9 153.6 169.0 143

144 Other (miscellaneous liabilities) 6.7 7.3 6.6 6.7 6.6 6.4 6.2 6.0 5.8 5.6 144

145 Net worth -3137.0 -3232.7 -3284.6 -3262.9 -3106.8 -2890.6 -2878.8 -3161.0 -3652.3 -4003.4 145

Note. The Federal government accounts exclude Federal employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.

IMF International Monetary Fund

SDRs Special Drawing Rights
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Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 710.4 739.9 772.6 811.5 863.9 917.2 979.9 1030.1 1077.2 1137.7 1

 2 Less: Consumption of fixed capital 88.3 92.6 96.9 101.8 108.1 116.2 123.0 129.0 134.5 143.8 2

 3 Equals: Net value added 622.1 647.3 675.7 709.8 755.7 801.0 856.9 901.1 942.6 993.9 3

 4 Compensation of employees (paid) 611.6 634.9 664.8 701.1 746.8 795.6 854.5 900.9 945.4 1000.6 4

 5 Wages and salaries 455.3 473.4 495.6 522.4 550.3 584.8 622.4 655.8 678.5 702.7 5

 6 Employers’ social contributions 156.2 161.4 169.2 178.6 196.5 210.8 232.1 245.1 266.9 297.9 6

 7 Operating surplus, net 10.6 12.4 10.9 8.7 9.0 5.4 2.4 0.1 -2.8 -6.7 7

 8 Net national income/Balance of primary incomes, net 485.1 521.3 552.1 586.9 626.1 668.0 660.8 669.2 673.5 728.0 8

 9 Operating surplus, net 10.6 12.4 10.9 8.7 9.0 5.4 2.4 0.1 -2.8 -6.7 9

10 Taxes on production and imports, receivable 482.4 507.9 533.8 558.8 590.2 621.3 642.4 675.8 717.8 768.7 10

11 Subsidies (paid) -0.3 -0.3 -0.4 -0.4 -0.4 -0.5 -7.7 -0.9 -0.1 -0.4 11

12 Property income (received) 69.1 73.7 78.1 81.3 85.2 93.9 89.2 78.6 73.8 76.8 12

13 Interest 63.6 67.7 71.8 75.0 78.6 86.3 81.3 70.5 64.5 66.4 13

14 Distributed income of corporations (dividends) 1.0 1.4 1.5 1.6 1.5 1.4 1.4 1.6 1.7 2.0 14

15 Rents on land and natural resources 4.5 4.6 4.8 4.6 5.1 6.3 6.5 6.6 7.6 8.5 15

16 Less: Uses of property income (interest paid) 76.6 72.4 70.2 61.4 57.8 52.1 65.4 84.4 115.2 110.5 16

17 Net national income/Balance of primary incomes, net 485.1 521.3 552.1 586.9 626.1 668.0 660.8 669.2 673.5 728.0 17

18 Plus: Current taxes on income, wealth, etc. (received) 189.8 201.7 216.1 236.2 250.3 271.9 271.9 252.7 260.8 289.2 18

19 Plus: Social benefits (received) 13.6 12.5 10.8 10.4 9.8 10.8 13.7 15.8 19.9 24.7 19

20 Less: Social contributions (paid) 217.6 224.3 227.6 235.8 252.3 271.4 305.1 333.0 353.6 385.0 20

21 Plus: Other current transfers (received) 214.4 224.4 236.1 253.5 277.4 299.7 333.1 365.4 405.0 422.4 21

22 Equals: Disposable income, net 685.3 735.6 787.6 851.1 911.2 979.0 974.5 970.1 1005.7 1079.2 22

23 Less: Final consumption expenditures 716.8 748.1 785.9 835.7 902.0 969.1 1039.7 1091.0 1127.1 1187.6 23

24 Equals: Net saving -31.5 -12.5 1.7 15.4 9.2 9.9 -65.3 -120.9 -121.4 -108.4 24

 Capital account

25 Net saving less capital transfers 0.8 21.4 36.9 51.3 49.3 54.1 -13.6 -68.0 -69.5 -60.4 25

26 Net saving -31.5 -12.5 1.7 15.4 9.2 9.9 -65.3 -120.9 -121.4 -108.4 26

27 Less: Capital transfers paid (net) -32.4 -33.8 -35.2 -35.9 -40.0 -44.2 -51.7 -52.9 -52.0 -48.0 27

28 Capital formation, net 78.3 83.6 94.8 99.6 114.1 125.3 136.9 145.5 145.8 145.0 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 160.0 170.2 185.8 193.7 213.6 232.9 249.8 263.3 268.9 277.5 29

30 Less: Consumption of fixed capital 88.3 92.6 96.9 101.8 108.1 116.2 123.0 129.0 134.5 143.8 30

31 Acquisition of nonproduced nonfinancial assets 6.6 6.0 5.8 7.6 8.6 8.6 10.1 11.2 11.4 11.3 31

32 Net lending (+) or borrowing (-), capital account (lines 25-28) -77.5 -62.2 -57.9 -48.3 -64.8 -71.2 -150.5 -213.5 -215.2 -205.4 32

 Financial account

33 Net lending (+) or borrowing (-) (line 32) -77.5 -62.2 -57.9 -48.3 -64.8 -71.2 -150.5 -213.5 -215.2 -205.4 33

34 Net acquisition of financial assets -9.5 28.0 98.7 145.2 97.9 75.2 100.7 75.5 45.1 172.4 34

35 Currency and deposits 10.0 4.9 10.1 10.8 18.0 10.8 16.0 13.9 26.8 4.4 35

36 Currency and transferable deposits 3.4 -5.6 4.4 -3.9 4.0 0.1 4.0 5.1 7.0 -3.5 36

37 Time and savings deposits 6.6 10.5 5.8 14.7 14.1 10.7 12.0 8.8 19.8 7.9 37

38 Debt securities -94.7 -37.5 -3.6 103.6 97.5 72.0 94.7 91.5 22.4 96.3 38

39 Open market paper 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 -0.7 2.9 39

40 Treasury securities -80.2 -32.8 -17.7 41.4 23.8 5.5 18.4 26.2 7.0 43.3 40

41 Agency- and GSE-backed securities (1) -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 11.9 37.1 41

42 Municipal securities -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.4 1.1 42

43 Corporate and foreign bonds 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 3.8 11.9 43

44 Loans 0.3 35.9 7.2 10.2 2.0 -11.6 -11.7 -21.7 6.5 22.2 44

45 Short term -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 1.6 7.2 45

46 Long term (mortgages) 3.3 3.8 3.7 6.1 4.4 -1.3 -0.8 -5.3 4.9 15.0 46

47 Equity and investment fund shares 13.3 15.2 2.2 9.0 -25.3 10.0 7.7 14.0 -4.9 21.6 47

48 Money market fund shares 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 4.8 12.8 48

49 Corporate equities 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -8.0 5.4 49

50 Mutual fund shares -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -1.7 3.5 50

51 Other accounts receivable 61.5 9.5 82.7 11.5 5.7 -6.1 -6.1 -22.1 -5.8 27.9 51

52 Trade receivables 6.1 5.6 6.3 7.0 8.7 4.9 6.0 2.6 -1.9 8.5 52

53 Taxes receivable 0.9 2.3 4.2 5.0 9.9 10.6 3.0 1.5 0.8 12.9 53

54 Other (miscellaneous assets) 54.5 1.6 72.1 -0.5 -12.9 -21.6 -15.1 -26.2 -4.7 6.5 54
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1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

55 Net incurrence of liabilities -4.3 58.3 106.7 148.3 142.1 76.9 188.3 270.1 268.2 332.7 55

56 Debt securities (municipals) -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 178.5 56

57 Short term 1.2 6.3 8.3 -6.3 2.6 1.4 23.8 25.2 10.4 22.2 57

58 Other -62.1 -22.0 37.3 72.9 36.3 15.1 81.5 118.7 110.1 156.3 58

59 Loans (short term) 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 59

60 Insurance, pension and standardized guarantee schemes 39.3 60.6 36.4 60.7 82.0 35.0 55.8 97.3 118.9 124.0 60

 (Claim of pension funds on sponsor)

61 Other accounts payable (trade payables) 17.2 18.2 19.6 20.8 22.8 25.0 27.0 28.3 28.8 30.0 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 34-55) -5.3 -30.3 -8.0 -3.1 -44.2 -1.7 -87.6 -194.6 -223.1 -160.4 62

 Other changes in volume account

63 Total other volume changes 224.5 169.3 270.9 207.6 255.8 -85.9 -165.5 -350.4 337.5 -697.2 63

64 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 -1.7 0.0 0.0 0.0 64

65 Other volume changes 152.3 137.4 220.9 162.4 235.2 -155.4 -226.7 -369.3 345.4 -742.3 65

66 Less: Statistical discrepancy (lines 32-62) (2) -72.2 -31.9 -49.9 -45.1 -20.6 -69.5 -62.9 -18.9 7.9 -45.1 66

 Revaluation account

67 Nonfinancial assets 108.6 76.4 92.7 98.0 148.3 172.8 118.3 110.4 91.5 504.5 67

68 Structures 106.1 77.2 95.3 99.7 148.2 172.4 120.7 111.5 91.5 501.0 68

69 Equipment 1.6 -0.8 -2.8 -2.1 -1.0 -0.9 -2.6 -1.2 -0.6 2.6 69

70 Intellectual property products 0.9 -0.0 0.2 0.4 1.1 1.4 0.2 0.1 0.6 0.9 70

71 Equity and investment fund shares 13.2 12.7 25.5 42.7 28.7 -15.0 -12.4 -25.0 29.0 11.8 71

72 Changes in net worth due to nominal holding gains/losses 121.8 89.1 118.3 140.7 177.0 157.9 105.9 85.5 120.5 516.3 72

 Changes in balance sheet account

73 Change in net worth (lines 28+32+63+72) 347.2 279.8 426.0 399.5 482.0 126.1 -73.1 -333.0 388.5 -241.3 73

 Balance sheet account (end of period)

74 Total assets 4362.1 4556.8 4862.6 5240.4 5620.8 5970.7 6302.5 6598.1 6898.1 7720.6 74

75 Nonfinancial assets (3) 3240.8 3394.8 3576.6 3766.5 4020.3 4309.9 4553.5 4798.5 5024.4 5662.8 75

76 Structures 3053.5 3200.3 3375.1 3555.1 3795.7 4072.0 4306.6 4543.0 4760.4 5388.1 76

77 Equipment 143.4 149.3 154.0 161.1 170.6 179.7 185.5 191.5 196.6 203.3 77

78 Intellectual property products 43.9 45.1 47.5 50.4 54.0 58.2 61.3 64.0 67.5 71.4 78

79 Financial assets 1121.3 1162.0 1286.0 1473.9 1600.5 1660.8 1749.1 1799.6 1873.7 2057.8 79

80 Currency and deposits 100.4 105.4 115.3 126.2 144.2 155.0 171.0 184.9 211.7 216.1 80

81 Currency and transferable deposits 38.7 33.1 37.5 33.6 37.5 37.7 41.7 46.7 53.7 50.3 81

82 Time and savings deposits 61.7 72.2 77.9 92.6 106.7 117.4 129.3 138.1 158.0 165.8 82

83 Debt securities 524.8 487.2 483.7 587.3 684.7 756.7 851.5 943.0 965.4 1061.8 83

84 Open market paper 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 150.6 153.4 84

85 Treasury securities 289.8 257.0 239.3 280.8 304.5 310.0 328.4 354.7 361.7 405.0 85

86 Agency- and GSE-backed securities (1) 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 340.6 377.7 86

87 Municipal securities 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.5 5.7 87

88 Corporate and foreign bonds 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 108.0 119.9 88

89 Loans 229.5 265.4 272.7 282.9 284.9 273.3 261.6 239.9 246.4 268.6 89

90 Short term 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 117.2 124.3 90

91 Long term (mortgages) 113.8 117.6 121.3 127.4 131.8 130.5 129.7 124.4 129.3 144.3 91

92 Equity and investment fund shares 72.1 100.0 127.7 179.4 182.8 177.9 173.2 162.2 186.3 219.7 92

93 Money market fund shares 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 63.5 76.3 93

94 Corporate equities 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 93.4 107.6 94

95 Mutual fund shares 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 29.4 35.8 95

96 Other accounts receivable 194.5 204.0 286.7 298.2 303.9 297.8 291.8 269.6 263.8 291.7 96

97 Trade receivables 77.3 82.9 89.2 96.3 104.9 109.9 115.9 118.4 116.6 125.0 97

98 Taxes receivable 37.7 40.1 44.3 49.3 59.2 69.8 72.8 74.4 75.1 88.0 98

99 Other (miscellaneous assets) 79.4 81.0 153.1 152.6 139.8 118.2 103.1 76.9 72.1 78.6 99

100 Total liabilities and net worth 4362.1 4556.8 4862.6 5240.4 5620.8 5970.7 6302.5 6598.1 6898.1 7720.6 100

101 Liabilities 1304.8 1219.6 1099.5 1077.8 976.1 1199.9 1604.8 2233.4 2144.9 3208.7 101
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1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

102 Debt securities (municipals) 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 102

103 Short term 34.4 40.7 49.0 42.7 45.3 46.6 70.5 95.7 106.1 44.2 103

104 Other 1002.6 980.7 1018.0 1090.9 1127.2 1142.4 1223.9 1342.6 1452.7 2393.9 104

105 Loans (short term) 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 105

106 Insurance, pension and standardized guarantee schemes 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 310.5 106

 (Claim of pension funds on sponsor)

107 Other accounts payable (trade payables) 229.6 247.8 267.4 288.2 311.0 336.0 363.0 391.3 420.1 450.1 107

108 Net worth 3057.3 3337.1 3763.1 4162.7 4644.7 4770.8 4697.7 4364.7 4753.2 4511.9 108

Note. The state and local government accounts exclude state and local employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.
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Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Foreign income from U.S. 1147.7 1228.1 1363.2 1444.3 1600.4 1883.8 1741.0 1769.2 1912.9 2259.4 1

 2 U.S. imports of goods and services 902.6 964.0 1055.8 1115.7 1248.6 1472.6 1395.4 1429.0 1543.9 1800.7 2

 3 U.S. income payments to rest of world 201.1 214.6 256.0 268.5 294.3 345.7 273.5 267.2 289.0 362.3 3

 4 Current taxes and trans. payments to rest of world 44.0 49.5 51.4 60.0 57.5 65.4 72.1 73.0 80.0 96.4 4

 5 Less: Foreign outlays to U.S. 1042.6 1114.0 1233.9 1239.8 1313.4 1479.5 1352.0 1318.3 1396.4 1633.0 5

 6 U.S. exports of goods and services 812.8 867.6 953.8 953.0 992.0 1096.8 1026.7 1002.5 1040.3 1181.5 6

 7 U.S. income receipts from rest of world 229.8 246.4 280.1 286.8 321.4 382.7 325.3 315.8 356.1 451.4 7

 8 Equals: Net saving (current external balance) 105.1 114.1 129.3 204.5 287.0 404.2 389.0 450.9 516.6 626.4 8

 Capital account

 9 Net saving 105.1 114.1 129.3 204.5 287.0 404.2 389.0 450.9 516.6 626.4 9

10 Less: Net capital transfers -0.6 -0.2 -0.4 -0.2 -4.5 -0.4 12.9 -0.6 -2.2 2.8 10

11 Less: Acquisition of nonproduced nonfinancial assets 0.2 -0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 11

12 Net lending (+) or borrowing (-), capital account (lines 9-10-11) 105.5 114.3 129.8 204.7 291.5 404.6 376.0 451.4 518.7 623.7 12

 Financial account

13 Net lending (+) or borrowing (-) (line 12) 105.5 114.3 129.8 204.7 291.5 404.6 376.0 451.4 518.7 623.7 13

14 Net acquisition of U.S. financial assets 342.7 471.1 504.1 383.3 579.8 745.1 606.6 680.5 780.3 1227.1 14

15 Monetary gold and SDRs 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Monetary gold 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Currency and deposits -0.2 -14.7 51.0 19.1 34.2 -33.8 -34.0 44.4 31.9 16.6 18

19 Currency 8.8 14.2 22.4 13.8 24.4 -3.4 23.8 18.9 10.6 13.3 19

20 Transferable deposits 1.1 2.6 5.1 -3.4 -0.1 2.2 -5.0 -0.6 4.0 9.1 20

21 Time deposits -2.7 -0.2 13.1 3.1 3.2 8.9 -25.5 16.0 6.0 22.8 21

22 Net interbank items due from U.S. banks -7.4 -31.3 10.4 5.5 6.7 -41.6 -27.3 10.1 11.3 -28.6 22

23 Debt securities 246.8 375.7 242.3 169.5 163.1 244.5 323.8 432.8 519.6 804.0 23

24 Open market paper 18.6 14.4 19.9 33.6 -6.4 9.3 -5.9 18.1 2.1 16.5 24

25 Treasury securities 160.5 262.7 123.7 18.7 -32.3 -75.2 19.3 160.9 276.4 366.9 25

26 Agency- and GSE-backed securities (1) 17.6 26.8 30.3 11.1 63.4 141.9 92.0 127.1 12.3 154.6 26

27 Municipal securities 1.0 1.0 1.0 1.0 1.0 0.2 0.0 3.5 8.0 6.5 27

28 Corporate bonds 49.2 70.8 67.4 105.2 137.4 168.3 218.3 123.2 220.8 259.5 28

29 Loans (short term) 21.0 7.1 37.2 -19.8 -14.8 9.2 23.1 49.2 132.2 196.7 29

30 Security repurchases 21.0 3.2 20.0 -18.8 8.0 11.4 24.7 39.1 133.0 190.5 30

31 Loans to U.S. corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 31

32 Equity and investment fund shares 74.3 97.6 172.6 221.0 401.7 514.9 288.5 138.4 97.7 207.8 32

33 Money market fund shares 0.8 0.8 0.8 0.8 0.8 3.1 3.9 1.1 2.6 4.1 33

34 Corporate equities 3.5 -3.5 53.2 27.4 104.5 199.7 134.3 62.2 17.5 46.3 34

35 Mutual fund shares 12.3 13.8 13.1 13.8 7.1 -9.2 -16.7 -9.2 13.9 11.5 35

36 Foreign direct investment in the United States 57.8 86.5 105.6 179.0 289.4 321.3 167.0 84.4 63.8 146.0 36

37 Other accounts receivable 0.7 5.5 0.9 -6.5 -4.5 10.4 5.2 15.8 -1.0 2.0 37

38 Net incurrence of liabilities 292.2 352.2 352.4 296.8 406.2 423.3 239.0 273.7 453.2 775.0 38

39 SDR holdings 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 39

40 Currency and deposits 44.4 79.5 108.3 15.6 40.8 126.5 11.0 24.3 42.8 151.0 40

41 Official foreign currencies 6.3 -7.6 -2.9 1.5 -3.3 1.9 0.7 0.6 0.6 0.6 41

42 Reserve position in IMF (net) 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 42

43 U.S. private deposits 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 43.8 154.2 43

44 Nonofficial foreign currencies 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.0 0.0 44

45 Debt securities 70.4 77.9 63.3 36.6 26.7 53.0 -2.2 62.6 19.7 101.7 45

46 Commercial paper 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.9 69.2 46

47 Bonds 56.9 66.6 59.6 28.8 10.4 21.3 -20.5 3.8 0.8 32.5 47

48 Loans (short term) 6.1 11.1 14.4 -0.6 -11.3 7.5 -15.0 14.6 75.8 145.6 48

49 Security repurchases 0.0 0.0 0.0 0.0 0.0 0.0 3.9 23.6 78.3 148.2 49

50 Other loans and advances -0.5 1.0 -1.8 -6.0 -5.7 -1.3 -3.8 -2.3 -2.0 -3.6 50

51 Depository institution loans n.e.c. 6.6 10.1 16.3 5.4 -5.6 8.8 -15.2 -6.7 -0.5 1.0 51

52 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52
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Historical Annuals, 1995-2004, September 18, 2014 153

S.9.a Rest of the World 

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

53 Equity and investment fund shares 169.5 180.7 163.2 245.0 344.8 234.9 249.9 172.3 313.1 377.4 53

54 Corporate equities 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 54

55 U.S. government equity in IBRD, etc. 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 55

56 U.S. direct investment abroad 98.8 91.9 104.8 142.6 224.9 159.2 142.3 154.5 149.6 316.2 56

57 Investment by holding companies 3.8 4.1 -0.8 -0.6 4.1 -32.5 -3.3 -0.6 44.1 -25.6 57

58 Other accounts payable 1.1 3.3 2.8 0.0 5.2 0.7 -5.3 -0.6 2.3 -1.1 58

 Addendum:

59 Net lending (+) or borrowing (-), financial account (lines 14-38) 50.4 119.0 151.7 86.5 173.5 321.8 367.6 406.9 327.2 452.1 59

 Other changes in volume account

60 Total other volume changes -21.5 4.6 21.9 -118.2 -112.9 -93.5 -86.9 -57.9 -123.0 -179.0 60

61 Other volume changes 33.6 0.0 0.0 0.0 5.0 -10.8 -78.5 -13.4 68.5 -7.5 61

62 Less: Statistical discrepancy (lines 12-59) (2) 55.0 -4.6 -21.9 118.2 117.9 82.8 8.4 44.5 191.5 171.6 62

 Revaluation account

63 Financial assets 194.7 41.8 166.6 174.0 -11.3 -151.5 -214.0 -359.8 443.0 228.1 63

64 SDR allocations 0.1 -0.2 -0.4 0.3 -0.2 -0.3 -0.2 0.5 0.6 0.3 64

65 Currency and deposits -0.1 -0.1 0.2 3.5 0.0 0.0 0.0 -8.1 0.0 12.4 65

66 Debt securities 55.2 -48.7 -19.6 -2.1 -152.3 12.7 47.7 41.7 -44.9 -22.5 66

67 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.5 -11.8 67

68 Treasury securities 23.9 -39.3 -10.9 -5.6 -75.6 38.2 25.6 29.4 -48.4 -62.7 68

69 Agency- and GSE-backed securities -1.4 -15.4 -7.4 17.2 -16.7 -26.0 63.9 6.3 11.4 46.0 69

70 Corporate bonds 32.7 6.0 -1.3 -13.7 -60.0 0.5 -41.7 4.0 -10.4 6.0 70

71 Equity and investment fund shares 139.6 90.9 186.4 172.4 141.1 -163.9 -261.6 -393.8 487.0 237.7 71

72 Corporate equities 128.3 103.2 199.8 243.2 221.6 -150.7 -176.3 -274.0 451.1 208.8 72

73 Mutual fund shares 7.0 8.6 13.6 12.3 27.3 -11.2 -15.7 -16.9 18.7 13.1 73

74 Foreign direct investment in the United States 4.3 -21.0 -27.1 -83.1 -107.8 -2.0 -69.6 -102.9 17.3 15.8 74

75 Other accounts receivable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.2 75

76 Liabilities 163.9 159.1 103.5 160.9 352.4 -300.4 -331.2 -94.4 813.9 591.7 76

77 SDR holdings 0.2 -0.4 -0.6 0.4 -0.3 -0.5 -0.4 0.9 1.1 0.5 77

78 Currency and deposits 11.3 13.2 -16.4 4.6 -1.2 -3.6 -3.5 5.6 3.0 37.3 78

79 Official foreign currencies 1.5 -3.2 -4.6 3.7 -0.6 -2.8 -2.9 4.1 5.3 2.3 79

80 Reserve position in IMF (net) 0.2 -0.5 -0.9 0.9 -0.7 -0.8 -0.6 1.5 2.1 0.8 80

81 U.S. private deposits 9.6 16.9 -10.9 0.0 0.0 0.0 0.0 0.0 -4.4 34.3 81

82 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 82

83 Debt securities (corporate bonds) 53.7 1.0 2.9 4.6 -54.1 3.3 2.8 136.1 183.6 29.6 83

84 Equity and investment fund shares 98.6 145.1 117.5 151.1 407.8 -299.5 -330.1 -236.2 625.3 524.1 84

85 Corporate equities 98.4 132.7 144.1 165.8 414.4 -257.6 -349.3 -255.6 587.4 396.2 85

86 U.S. direct investment abroad 0.2 12.4 -26.6 -14.7 -6.6 -42.0 19.2 19.5 37.9 127.8 86

87 Other accounts payable 0.0 0.0 0.0 0.0 -0.0 0.0 -0.1 -0.8 0.9 0.2 87

88 Changes in net worth due to nominal holding gains/losses 30.8 -117.2 63.1 13.1 -363.7 148.9 117.2 -265.4 -370.8 -363.6 88

 Changes in balance sheet account

89 Change in net worth (lines 12+60+88) 114.8 1.7 214.8 99.6 -185.2 460.0 406.3 128.1 24.8 81.0 89

 Financial balance sheet account (end of period) (3)

90 Total financial assets 3306.8 3819.7 4490.4 5047.7 5621.2 6204.0 6652.1 6959.5 8251.4 9699.1 90

91 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 91

92 Currency and deposits 491.7 476.9 528.1 550.7 578.2 544.4 510.4 558.3 506.5 535.5 92

93 Currency 133.9 148.1 170.5 184.4 208.8 205.4 229.2 248.1 258.7 272.0 93

94 Transferable deposits 24.5 27.1 32.2 28.8 28.7 30.9 25.9 25.3 4.2 13.3 94

95 Time deposits 201.3 201.1 214.4 221.0 217.4 226.4 200.9 220.3 167.8 202.9 95

96 Net interbank items due from U.S. banks 131.9 100.6 111.0 116.6 123.3 81.7 54.4 64.6 75.9 47.3 96
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154 Historical Annuals, 1995-2004, September 18, 2014

S.9.a Rest of the World 

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

97 Debt securities 1342.7 1669.6 1892.4 2059.7 2077.3 2334.5 2735.0 3197.8 3672.4 4449.6 97

98 Open market paper 43.4 57.9 77.8 111.4 105.0 114.3 108.4 128.5 133.1 137.7 98

99 Treasury securities 816.9 1040.3 1153.2 1166.2 1058.4 1021.4 1095.2 1285.5 1513.5 1813.6 99

100 Agency- and GSE-backed securities (1) 123.1 134.4 157.3 185.6 232.3 348.2 504.1 637.5 661.1 861.7 100

101 Municipal securities 4.0 4.9 5.9 6.8 7.8 8.0 8.0 11.5 19.5 26.0 101

102 Corporate bonds 355.3 432.1 498.2 589.7 673.8 842.6 1019.2 1134.8 1345.2 1610.6 102

103 Loans (short term) 189.7 196.9 234.1 214.3 199.5 208.7 266.8 316.0 598.2 794.9 103

104 Security repurchases 67.6 70.9 90.8 72.0 79.9 91.3 151.1 190.1 473.2 663.7 104

105 Loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 105

106 Equity and investment fund shares 1229.6 1418.0 1777.0 2170.4 2713.2 3064.2 3091.2 2835.7 3420.5 3866.0 106

107 Money market fund shares 5.1 5.8 6.6 7.3 8.1 11.2 15.1 16.3 18.8 22.9 107

108 Corporate equities 484.6 584.3 837.3 1107.9 1434.0 1483.0 1441.0 1229.1 1697.6 1952.7 108

109 Mutual fund shares 59.9 82.3 109.0 135.1 169.5 149.0 116.6 90.5 123.1 147.7 109

110 Foreign direct investment in the United States 680.1 745.6 824.1 920.0 1101.7 1421.0 1518.5 1500.0 1581.0 1742.7 110

111 Other accounts receivable 45.8 51.3 52.2 45.7 46.2 45.8 42.7 45.0 46.5 45.4 111

112 Total liabilities and net worth 3306.8 3819.7 4490.4 5047.7 5621.2 6204.0 6652.1 6959.5 8251.4 9699.1 112

113 Total liabilities 2874.2 3385.5 3841.4 4299.0 5057.7 5180.5 5222.4 5401.6 6668.7 8035.3 113

114 SDR holdings 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 114

115 Currency and deposits 484.8 577.5 669.4 689.6 729.2 852.0 859.5 972.7 1018.5 1206.8 115

116 Official foreign currencies 49.1 38.3 30.8 36.0 32.2 31.2 29.0 33.7 39.5 42.5 116

117 Reserve position in IMF (net) 14.6 15.4 18.1 24.1 18.0 14.8 17.9 22.0 22.5 19.5 117

118 U.S. private deposits 418.8 521.7 618.5 627.6 676.5 803.3 810.1 914.4 953.8 1142.2 118

119 Nonofficial foreign currencies 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.6 2.6 119

120 Debt securities 488.1 567.1 633.2 674.4 647.1 703.3 704.0 819.3 1022.6 1153.9 120

121 Commercial paper 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 276.1 345.3 121

122 Bonds 431.9 499.6 568.2 601.6 557.9 582.4 505.5 562.1 746.5 808.6 122

123 Loans (short term) 143.1 154.4 169.0 168.5 157.3 164.9 284.0 298.6 374.4 519.9 123

124 Security repurchases 0.0 0.0 0.0 0.0 0.0 0.0 138.0 161.6 239.9 388.1 124

125 Other loans and advances 63.6 64.7 63.0 57.2 51.6 50.4 46.6 44.3 42.3 38.7 125

126 Depository institution loans n.e.c. 79.6 89.7 105.9 111.3 105.7 114.5 99.4 92.7 92.2 93.1 126

127 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 127

128 Equity and investment fund shares 1722.0 2047.8 2328.5 2724.7 3477.3 3412.7 3332.4 3268.5 4207.0 5108.4 128

129 Corporate equities 790.6 1006.1 1207.8 1475.0 2003.7 1852.8 1612.7 1374.0 2079.4 2560.4 129

130 U.S. government equity in IBRD, etc. 27.4 29.2 30.8 32.4 33.9 35.4 37.1 38.6 40.0 42.0 130

131 U.S. direct investment abroad 885.5 989.8 1068.1 1196.0 1414.4 1531.6 1693.1 1867.0 2054.5 2498.5 131

132 Investment by holding companies 18.5 22.6 21.9 21.3 25.4 -7.1 -10.4 -11.1 33.1 7.5 132

133 Other accounts payable 25.1 28.4 31.2 31.2 36.4 37.1 31.8 30.4 33.6 32.7 133

134 Net worth (external account) 432.6 434.3 649.1 748.7 563.5 1023.5 1429.8 1557.9 1582.7 1663.7 134

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes nonfinancial assets, including nonproduced nonfinancial assets.

IBRD International Bank for Reconstruction and Development

IMF International Monetary Fund

SDRs Special Drawing Rights

n.e.c. Not elsewhere classified