F EDERAL RESERVE S TATISTICAL RELEASE

For use at 12:00 noon, eastern time

December 7, 2023

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

Third Quarter 2023

B OARD O F G OVERNORS O F THE F EDERAL R ESERVE S YSTEM

i 

The net worth of households and nonprofits fell to 

$151.0 trillion during the third quarter of 2023. The 

value of directly and indirectly held corporate equities 

decreased $1.7 trillion and the value of real estate 

increased $0.5 trillion.

Domestic nonfinancial debt outstanding was $73.0 

trillion at the end of the third quarter of 2023, of which 

household debt was $19.8 trillion, nonfinancial business 

debt was $21.2 trillion, and total government debt was 

$32.0 trillion.

Domestic nonfinancial debt expanded 5.2 percent at an 

annual rate in the third quarter of 2023, down from an 

annual rate of 6.3 percent in the previous quarter.

Household debt increased 2.5 percent at an annual rate 

in the third quarter of 2023. Consumer credit grew at an 

annual rate of 1.1 percent, while mortgage debt 

(excluding charge-offs) grew at an annual rate of 2.5 

percent.

Nonfinancial business debt rose at an annual rate of 

1.5 percent in the third quarter of 2023, down from a 1.8

percent annual rate in the previous quarter.

Federal government debt increased 10.6 percent at an 

annual rate in the third quarter of 2023, down from a 

12.7 percent annual rate in the previous quarter.

State and local government debt contracted at an 

annual rate of 0.3 percent in the third quarter of 2023, 

after expanding at an annual rate of 2.8 percent in the 

previous quarter.

Recent Developments in Household Net Worth and 

Domestic Nonfinancial Debt

Household Net Worth and Growth of Domestic Nonfinancial Debt

Year

Household 

net worth1

Growth of domestic nonfinancial debt2

Total Households Businesses

Federal 

government

State and 

local gov’ts

2013 80,836 4.3 2.3 5.2 6.7 -0.1

2014 87,012 3.8 1.1 6.9 5.4 -2.2

2015 89,961 4.5 2.6 7.1 5.0 0.5

2016 94,986 4.4 3.2 5.0 5.6 1.0

2017 103,735 4.3 4.0 6.2 3.7 0.0

2018 104,326 4.7 3.2 4.4 7.6 -1.2

2019 116,904 4.7 3.5 4.6 6.6 0.0

2020 131,471 12.3 3.4 9.4 24.1 3.0

2021 150,439 6.3 7.4 5.0 7.1 2.2

2022 143,655 5.7 6.2 5.8 6.1 -1.6

 

2021: Q3 146,588 3.6 7.2 4.7 0.1 3.0

Q4 150,439 8.8 7.8 7.1 12.1 -1.0

2022: Q1 152,145 8.3 8.0 7.9 10.2 -2.4

Q2 146,312 6.2 6.9 7.2 5.6 1.6

Q3 142,824 4.5 6.3 4.2 4.2 -0.5

Q4 143,655 3.2 3.3 3.5 4.0 -5.1

2023: Q1 146,640 3.8 2.4 4.6 4.5 1.2

Q2 152,300 6.3 2.7 1.8 12.7 2.8

Q3 150,989 5.2 2.5 1.5 10.6 -0.3

1. Shown on table B.101, which includes nonprofit organizations. Billions of dollars; amounts outstanding end of period, not 

 seasonally adjusted.

2. Percentage changes calculated as transactions at a seasonally adjusted annual rate divided by previous quarter’s seasonally 

 adjusted level, shown at an annual rate.
ii
iii

Topic Description

Equity REIT reclassification The equity real estate investment trust (eREIT) sector (previously 

tables F.129.e and L.129.e) has been reclassified to the nonfinancial 

corporate business sector (tables F.103, L.103, B.103, R.103, and 

S.5.a) to better align with the System of National Accounts (SNA 

2008) international guidelines. As a result, REITs reported in the 

domestic financial sector (tables F.129 and L.129) comprise only 

mortgage REITs (previously tables F.129.m and L.129.m) and the 

tables have been renamed accordingly. eREIT tables (F.129.e and 

L.129.e) are no longer separately available.

National Income and Product 

Account comprehensive update

The statistics in this publication reflect the 2023 comprehensive 

update of the National Income and Product Accounts (NIPAs) 

released by the Bureau of Economic Analysis (BEA) on September 

28, 2023, as well as information for 2023:Q3 released by BEA on 

November 29, 2023. This comprehensive update includes the 

reclassification of equity REITs to the nonfinancial business sector as 

well as updates to treatment of investment funds. See the November 

2023 issue of the Survey of Current Business at 

https://apps.bea.gov/scb/ for further details on the 2023 

comprehensive update.

Fixed assets comprehensive 

update

Investment, depreciation, and capital stock data for private and 

government sectors have been revised beginning in 2013 for most 

series while a reclassification of equity REITs from the financial sector 

to the nonfinancial corporate business sector was incorporated for the 

full history. These revisions reflect updated annual estimates of fixed 

assets from BEA.

Nonfinancial noncorporate 

business benchmark

Nonfinancial noncorporate business sector data (tables F.104, L.104, 

B.104, and R.104) have been revised beginning 2021:Q1 to reflect 

new benchmark data from the Internal Revenue Service (IRS) 

Statistics of Income (SOI) for 2021.

Release Highlights

Third Quarter 2023
iv
v

Financial Accounts of the United States

The Statistical Release Z.1, Financial Accounts of the 

United States, or Financial Accounts, is organized into 

the following sections:

■ Matrices summarizing transactions and levels 

across sectors and tables on debt growth, net 

national wealth, gross domestic product (GDP), 

national income, saving, and so on

■ Transactions of financial assets and liabilities, 

by sector and by financial instrument 

■ Levels of financial assets and liabilities, by 

sector and by financial instrument

■ Balance sheets, including nonfinancial assets, 

and changes in net worth for households and 

nonprofit organizations, nonfinancial corporate 

businesses, and nonfinancial noncorporate 

businesses

Supplementary tables including balance sheets 

for the household sector, nonprofit organization 

sector, the household and nonprofit 

organization sector with additional equity and 

debt detail, and domestic hedge funds, as well 

as tables detailing stocks and flows of fixed 

assets

■ Integrated Macroeconomic Accounts (IMA)

The IMA relate production, income, saving, and capital 

formation from the Bureau of Economic Analysis’s 

(BEA) national income and product accounts (NIPA) to

changes in net worth from the Financial Accounts on a 

sector-by-sector basis. The IMA are published jointly by 

the Federal Reserve Board and BEA and are based on 

international guidelines and terminology as defined in 

the System of National Accounts (SNA2008).

Federal Reserve Board staff have taken many steps over 

the past several years to conform the Financial Accounts

with the SNA2008 guidelines. Nonetheless, a few 

important differences remain, in particular, the 

following in the Financial Accounts:

■ The purchase of consumer durables is treated as 

investment rather than as consumption.

■ Nonfinancial noncorporate businesses (tables 

F/L/B.104) are not included in the household 

sector.

■ Nearly all debt security asset holdings are 

reported at market value while most debt 

security liabilities are at book value. Statistical 

discrepancies, shown on debt security 

instrument tables, accounts for differences in 

valuations.

Concepts of Levels and Transactions in 

the SNA and the Financial Accounts

The level of an asset or liability (also referred to as the 

“stock” or “outstanding”) measures the value of the 

asset or liability in existence at a point in time. In the 

Financial Accounts, the levels are reported as of the end 

of each calendar quarter. In the SNA2008, the change in 

the level from one period to the next is called the 

economic flow, and can be decomposed into three broad 

elements: transactions, which measure the exchange of 

assets; revaluations, which measure holding gains and 

losses; and other changes in volume, which measure 

discontinuities or breaks in time series due to disaster 

losses or a change in source data or definition. In 

practice, other volume changes are relatively rare, and 

revaluations occur mainly for series carried at market 

value (such as corporate equities, real estate, and some 

debt securities), so for many series the change in the 

level is equal to the transactions element.

Growth Rates

Growth rates calculated from levels include revaluations 

and other changes in volume. In order to isolate the 

effect of transactions on the growth of a given asset or 

liability, users should calculate the ratio of transactions

in a given period to the level in the preceding period. 

Growth rates in table D.1 are calculated by dividing 

transactions at a seasonally adjusted annual rate from 

table D.2 by seasonally adjusted levels at the end of the 

previous period from table D.3. Growth rates calculated 

from changes in unadjusted levels may differ from those 

in table D.1.

Seasonal Adjustment

Seasonal factors are recalculated and updated with the 

December release of third-quarter data. Series that 

exhibit significant seasonal patterns are adjusted. 

Seasonal factors are generated using the X-13-ARIMA 

seasonal adjustment program from the U.S. Census 

Bureau, estimated using the most recent 10 years of 

transaction data. Due to distortions of seasonal patterns 

caused by financial crises, seasonal factors for affected 

series are extrapolated using pre-crisis data until several 

years of post-crisis data are available. Seasonally 

adjusted levels shown in table D.3 are derived by 

carrying forward year-end levels by seasonally adjusted 

transactions.

Explanatory Notes
vi

Data Revisions 

Data shown for the most recent quarters are based on 

preliminary and potentially incomplete information. A 

summary list of the most recent data available for each 

sector is provided in a table following these notes. 

Nonetheless, when source data are revised or estimation 

methods are improved, all data are subject to revision.

There is no specific revision schedule; rather, data are 

revised on an ongoing basis. In each release of the 

Financial Accounts, major revisions are highlighted at 

the beginning of the publication.

Discrepancies 

The data in the Financial Accounts come from a large 

variety of sources and are subject to limitations and 

uncertainty due to measurement errors, missing 

information, and incompatibilities among data sources.

The size of this uncertainty cannot be quantified, but its 

existence is acknowledged by the inclusion of 

“statistical discrepancies” for various sectors and 

financial instruments.

The discrepancy for a given sector is defined as the 

difference between the aggregate value of the sector’s 

sources of funds and the value of its uses of funds. 

Sources of funds are gross savings less net capital 

transfers paid and net increase in liabilities and equity; 

uses of funds are capital expenditures and the net 

acquisition of financial assets. If a sector’s sources of 

funds are greater than its uses of funds, the sector is a 

net lender of funds in the accounts. In the reverse case, 

the sector would be a net borrower of funds. Most of the 

data for deriving gross savings come from the BEA’s 

NIPA. For a financial instrument category, the 

discrepancy is defined as the difference between the 

measurement of funds raised through the financial 

instrument and funds disbursed through that instrument. 

The relative size of the statistical discrepancy is one 

indication of the quality of the underlying source data. 

Note that differences in seasonal adjustment procedures 

sometimes result in quarterly discrepancies that partially 

or completely offset each other in the annual data.

Financial Accounts Guide 

Substantially more detail on the construction of the 

Financial Accounts is available in the Financial 

Accounts Guide, which provides interactive, online 

documentation for each data series. The tools and 

descriptions in the guide are designed to help users 

understand the structure and content of the Financial 

Accounts.

Each input and calculated series in the Z.1 is identified 

according to a unique string of patterned numbers and 

letters. The series structure page of the guide provides a 

breakdown of what the letters and numbers represent in 

the series mnemonics. Some data submissions to 

international organizations are also available in the 

guide. The guide is updated with the quarterly release 

and is available online:

www.federalreserve.gov/apps/fof

Enhanced Financial Accounts and Data 

Visualization 

Additional supplementary information is available 

online in the Enhanced Financial Accounts, which 

augment the Financial Accounts with finer detail, 

additional types of activities, higher-frequency data, and 

more-disaggregated data. Links to the Enhanced 

Financial Accounts are available from both the 

Financial Accounts Guide page and the main release 

page. In addition, interactive online data visualizations

are available for selected components of the Financial 

Accounts and Enhanced Financial Accounts. Links are 

available also on the same pages.

Production Schedule 

The Financial Accounts are published four times per 

year, about 10 weeks following the end of each calendar 

quarter. The publication is available online:

www.federalreserve.gov/releases/Z1

This website also provides CSV files of quarterly data 

for transactions at a seasonally adjusted annual rate, 

unadjusted transactions, levels outstanding, balance 

sheets, debt tables, supplementary tables, and the IMA. 

In addition, the data are available as customizable

datasets through the Federal Reserve Board’s Data 

Download Program online:

www.federalreserve.gov/datadownload/default.htm

Print Subscription Information 

The Federal Reserve Board charges a fee for 

subscriptions to print versions of statistical releases.

Inquiries regarding print versions should be directed to 

the following office:

Publications Services, Stop 127

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue, N.W.

Washington, DC 20551

(202) 452-3245
vii

Sector Table Available at time of publication

National income and product 

accounts (NIPA) 

(various tables) 

Second estimate, seasonally adjusted, for 2023:Q3. Corporate 

profits through 2023:Q3 (preliminary). Government receipts and 

expenditures unadjusted transactions from 1952:Q1 forward. 

GDP and income unadjusted transactions from 2002:Q1 

forward. Many BEA series are downloaded via Haver Analytics.

Households and nonprofit

organizations sector

(tables F.101 and L.101)

Estimates are largely residual, derived from other sectors' data. 

Data for consumer credit, which are estimated directly, are 

available through 2023:Q3. Internal Revenue Service Statistics 

of Income (IRS/SOI) data for Section 501(c)(3-9) nonprofit 

organizations through 2019. Private foundations and Section 

4947(a)(1) Nonexempt Charitable Trusts are available through 

2018 (table B.101.n). Data on hedge funds from SEC forms PF 

and ADV through 2023:Q2 (table B.101.f).

Nonfinancial corporate business 

(tables F.103 and L.103)

Quarterly Financial Report (QFR) of the Census Bureau through 

2023:Q3; IRS/SOI data through 2021. Securities offerings, 

mortgages, bank loans, commercial paper, and other loans 

through 2023:Q3. Corporate farm data through 2022; USDA 

forecast through 2023:Q3.

Nonfinancial noncorporate business 

(tables F.104 and L.104)

IRS/SOI data through 2021; bank and finance company loans, 

and mortgage borrowing through 2023:Q3. Noncorporate farm 

data through 2022; USDA forecast through 2023:Q3.

Federal government

(tables F.106 and L.106)

Monthly Treasury Statement of Receipts and Outlays and

Monthly Statement of the Public Debt through 2023:Q3. Loan 

program data through 2023:Q2.

State and local governments

(tables F.107 and L.107)

Gross offerings and retirements of municipal securities, deposits 

at banks, and nonmarketable U.S. government security issues 

through 2023:Q3. Data for total financial assets from Census 

Bureau through 2019:Q2. Additional financial asset detail from 

comprehensive annual financial reports of state and local 

governments through 2011:Q2.

Monetary authority

(tables F.109 and L.109)

All data through 2023:Q3.

U.S.-chartered depository

institutions

(tables F.111 and L.111)

All data through 2023:Q3.

Foreign banking offices in U.S.

(tables F.112 and L.112)

All data through 2023:Q3.

Banks in U.S.-affiliated areas

(tables F.113 and L.113)

All data through 2023:Q3.

Credit unions

(tables F.114 and L.114)

Credit Union National Association and corporate Call Reports 

through 2023:Q3; Natural person Call Reports through 2023:Q2.

Property-casualty insurance 

companies

(tables F.115 and L.115)

All data through 2023:Q3 (NJ-domiciled firms extrapolated).

Description of Most Recent Data Available
viii

Sector Table Available at time of publication

Life insurance companies

(tables F.116 and L.116)

All data through 2023:Q3 (NJ-domiciled firms extrapolated).

Private pension funds

(tables F.118 and L.118)

Internal Revenue Service/Department of Labor Form 5500 data 

through 2021. Investment Company Institute data through 

2023:Q2. BEA annual actuarial liability data through 2022:Q4.

Federal government retirement 

funds

(tables F.119 and L.119)

Data from the Monthly Treasury Statement of Receipts and 

Outlays, the Thrift Savings Plan, and the National Railroad 

Retirement Investment Trust through 2023:Q3. BEA annual 

actuarial liability data through 2022:Q4.

State and local government 

employee retirement funds

(tables F.120 and L.120)

Census Bureau Annual Survey of Public Pensions through 

2022:Q2. Quarterly Survey of Public Pensions through 2023:Q2. 

Investment Company Institute data through 2023:Q2. BEA 

annual actuarial liability data through 2022:Q4.

Money market funds

(tables F.121 and L.121)

All data through 2023:Q3.

Mutual funds

(tables F.122 and L.122)

All data through 2023:Q3.

Closed-end funds

(tables F.123 and L.123)

All data through 2023:Q3.

Exchange-traded funds

(tables F.124 and L.124)

All data through 2023:Q3.

Government-sponsored enterprises

(GSEs)

(tables F.125 and L.125)

Data for Fannie Mae, Freddie Mac, REFCORP, Farmer Mac, 

FCS, and FHLB through 2023:Q3.

Agency- and GSE-backed 

mortgage pools

(tables F.126 and L.126)

Data for Freddie Mac, Fannie Mae, Farmer Mac, and Ginnie 

Mae through 2023:Q3.

Issuers of asset-backed securities 

(ABS)

(tables F.127 and L.127)

All data for private mortgage pools, consumer credit, business 

loans, student loans, consumer leases, and trade credit 

securitization through 2023:Q3.

Finance companies

(tables F.128 and L.128)

All data through 2023:Q3.

Mortgage real estate investment 

trusts (mREITs)

(tables F.129 and L.129)

All data through 2023:Q3.

Security brokers and dealers

(tables F.130 and L.130)

FOCUS and FOGS reports through 2023:Q3.

Holding companies

(table F.131 and L.131)

All data through 2023:Q3.

Other financial business

(tables F.132 and L.132)

Estimates are largely residual, derived from other sectors' data. 

Central clearing party data through 2023:Q3.

Rest of the world

(tables F.133 and L.133)

NIPA estimates, depository institutions' Call Reports, and 

Treasury International Capital System through 2023:Q3. 

International investment position and international transaction 

accounts through 2023:Q2.
ix

Title Table Page

Summaries

Financial Accounts Matrix—Transactions 1

Financial Accounts Matrix—Levels 3

Debt Growth by Sector D.1 5

Borrowing by Sector D.2 6

Debt Outstanding by Sector D.3 7

Derivation of U.S. Net Wealth B.1 8

Distribution of Gross Domestic Product F.2 9

Distribution of National Income F.3 10

Saving and Investment F.4 11

Net Capital Transfers F.5 12

Derivation of Measures of Personal Saving F.6 13

Assets and Liabilities of the Personal Sector L.6 14

Title

Transactions Levels

Table Page Table Page

Sectors

Domestic Nonfinancial F.100 15 L.100 78

Households and Nonprofit Organizations F.101 16 L.101 79

Nonfinancial Business F.102 17 L.102 80

Nonfinancial Corporate Business F.103 18 L.103 81

Nonfinancial Noncorporate Business F.104 19 L.104 82

General Government F.105 20 L.105 83

Federal Government F.106 21 L.106 84

State and Local Governments F.107 22 L.107 85

Domestic Financial F.108 23 L.108 86

Monetary Authority F.109 24 L.109 87

Private Depository Institutions F.110 25 L.110 88

U.S.-Chartered Depository Institutions F.111 26 L.111 89

Foreign Banking Offices in U.S. F.112 27 L.112 90

Banks in U.S.-Affiliated Areas F.113 28 L.113 91

Credit Unions F.114 28 L.114 91

Property-Casualty Insurance Companies F.115 29 L.115 92

List of Data Tables
x

Sectors

Life Insurance Companies F.116 30 L.116 93

Life Insurance Companies: General Accounts F.116.g 31 L.116.g 94

Life Insurance Companies: Separate Accounts F.116.s 31 L.116.s 94

Private and Public Pension Funds F.117 32 L.117 95

Private Pension Funds F.118 33 L.118 96

Private Pension Funds: Defined Benefit Plans F.118.b 34 L.118.b 97

Private Pension Funds: Defined Contribution 

Plans F.118.c 34 L.118.c 97

Federal Government Employee Retirement Funds F.119 35 L.119 98

Federal Government Employee Retirement 

Funds: Defined Benefit Plans F.119.b 36 L.119.b 99

Federal Government Employee Retirement 

Funds: Defined Contribution Plans F.119.c 36 L.119.c 99

State and Local Government Employee Retirement 

Funds F.120 37 L.120 100

State and Local Government Employee 

Retirement Funds: Defined Benefit Plans F.120.b 38 L.120.b 101

State and Local Government Employee 

Retirement Funds: Defined Contribution 

Plans F.120.c 38 L.120.c 101

Money Market Funds F.121 39 L.121 102

Mutual Funds F.122 39 L.122 102

Closed-End Funds F.123 40 L.123 103

Exchange-Traded Funds F.124 40 L.124 103

Government-Sponsored Enterprises F.125 41 L.125 104

Agency- and GSE-Backed Mortgage Pools F.126 41 L.126 104

Issuers of Asset-Backed Securities F.127 42 L.127 105

Finance Companies F.128 43 L.128 106

Mortgage Real Estate Investment Trusts (mREITs) F.129 44 L.129 107

Security Brokers and Dealers F.130 45 L.130 108

Holding Companies F.131 46 L.131 109

Other Financial Business F.132 47 L.132 110

Rest of the World F.133 48 L.133 111
xi

Instruments

U.S. Official Reserve Assets and SDR Allocations F.200 49 L.200 112

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 49 L.201 112

U.S. Deposits in Foreign Countries F.202 49 L.202 112

Net Interbank Transactions F.203 50 L.203 113

Checkable Deposits and Currency F.204 51 L.204 114

Time and Savings Deposits F.205 52 L.205 115

Money Market Fund Shares F.206 52 L.206 115

Federal Funds and Security Repurchase Agreements F.207 53 L.207 116

Debt Securities F.208 54 L.208 117

Open Market Paper F.209 55 L.209 118

Treasury Securities F.210 56 L.210 119

Agency- and GSE-Backed Securities F.211 57 L.211 120

Municipal Securities F.212 58 L.212 121

Corporate and Foreign Bonds F.213 59 L.213 122

Loans F.214 60 L.214 123

Depository Institution Loans Not Elsewhere Classified F.215 61 L.215 124

Other Loans and Advances F.216 62 L.216 125

Total Mortgages F.217 63 L.217 126

One-to-four-family Residential Mortgages F.218 64 L.218 127

Multifamily Residential Mortgages F.219 64 L.219 127

Commercial Mortgages F.220 65 L.220 128

Farm Mortgages F.221 65 L.221 128

Consumer Credit F.222 66 L.222 129

Direct Investment Intercompany Debt F.223 66 L.223 129

Corporate Equities F.224 67 L.224 130

Other Equity F.225 68 L.225 131

 Direct Investment Equity F.225.a 68 L.225.a 131

 Miscellaneous Other Equity F.225.b 69 L.225.b 132

Mutual Fund Shares F.226 70 L.226 133

Life Insurance Reserves F.228 71 L.228 134

Pension Entitlements F.229 71 L.229 134

Trade Credit F.230 72 L.230 135

Taxes Payable by Businesses F.231 72 F.231 135
xii

Instruments

Total Miscellaneous Financial Claims F.232 73 L.232 136

Identified Miscellaneous Financial Claims—Part I F.233 74 L.233 137

Identified Miscellaneous Financial Claims—Part II F.234 75 L.234 138

Unidentified Miscellaneous Financial Claims F.235 76 L.235 139

Sector Discrepancies F.7 77

Instrument Discrepancies F.8 77

Title

Balance Sheet Change in Net Worth

Table Page Table Page

Balance Sheet and Change in Net Worth

Households and Nonprofit Organizations B.101 140 R.101 143

Nonfinancial Corporate Business B.103 141 R.103 144

Nonfinancial Noncorporate Business B.104 142 R.104 145

Title Table Page

Supplementary Tables

Balance Sheet of Households B.101.h 146

Balance Sheet of Nonprofit Organizations B.101.n 147

Balance Sheet of Households and Nonprofit Organizations with Debt and Equity

Holdings Detail B.101.e 148

Balance Sheet of Domestic Hedge Funds B.101.f 149

Gross Fixed Investment F.4.g 150

Consumption of Fixed Capital F.4.c 151

Net Fixed Investment F.4.f 152

Net Stocks of Fixed Assets, current cost L.4.s 153
xiii

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy—Current Account S.1.a 154

Selected Aggregates for Total Economy and Sectors S.2.a 155

Households and Nonprofit Institutions Serving Households S.3.a 157

Nonfinancial Noncorporate Business S.4.a 160

Nonfinancial Corporate Business S.5.a 163

Financial Business S.6.a 166

Central Bank S.61.a 169

 Private Depository Institutions S.62.a 171

 Insurance Companies S.63.a 174

 Pension Funds S.64.a 177

 Other Financial Business S.65.a 180

Federal Government S.7.a 183

State and Local Governments S.8.a 186

Rest of the World S.9.a 189
xiv
Summary

1

Z.1, December 7, 2023 Financial Accounts Matrix--Transactions for 2022

(Billions of dollars; seasonally adjusted)

Households State Domestic Domestic Instrument

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

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

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

1 Gross saving less net cap. transfers -- 3390.6 -- 3111.4 -- -892.5 -- 661.6 -- 6271.2 -- 375.8 -- 990.9 -- 7637.9 -- 2 Capital consumption -- 2380.4 -- 2449.9 -- 350.8 -- 371.5 -- 5552.6 -- 306.6 -- -- -- 5859.3 -- 3 Net saving (1 less 2) -- 1010.3 -- 661.5 -- -1243.3 -- 290.1 -- 718.5 -- 69.2 -- 990.9 -- 1778.6 -- 4 Gross investment (5 plus 11) 3891.0 -- 3500.7 -- -970.7 -- 630.7 -- 7051.7 -- 760.6 -- 479.8 -- 8292.1 -- -654.25 Capital expenditures 3188.2 -- 3278.5 -- 298.4 -- 489.3 -- 7254.4 -- 337.2 -- -0.2 -- 7591.4 -- 46.56 Consumer durables 1957.9 -- -- -- -- -- -- -- 1957.9 -- -- -- -- -- 1957.9 -- -- 7 Residential 970.8 -- 195.6 -- 2.0 -- 5.9 -- 1174.3 -- -- -- -- -- 1174.3 -- -- 8 Nonresidential 275.0 -- 2820.8 -- 404.6 -- 464.3 -- 3964.7 -- 337.2 -- -- -- 4301.8 -- -- 9 Inventory change -- -- 157.3 -- -- -- -- -- 157.3 -- -- -- -- -- 157.3 -- -- 10 Nonproduced nonfinancial assets -15.5 -- 104.8 -- -108.1 -- 19.1 -- 0.2 -- -- -- -0.2 -- -- -- -- 11 Net lending (+) or net borrowing (-) 702.8 -- 222.3 -- -1269.1 -- 141.4 -- -202.7 -- 423.5 -- 480.0 -- 700.8 -- -700.812 Net acquisition of financial assets 1877.9 -- 1520.7 -- 125.2 -- 396.6 -- 3920.3 -- 2410.5 -- 1524.9 -- 7855.6 -- -- 13 Net increase in liabilities and equity -- 1175.1 -- 1298.4 -- 1394.3 -- 255.2 -- 4123.0 -- 1987.0 -- 1044.9 -- 7154.9 -- 14 U.S. official reserve assets -- -- -- -- 5.8 0.0 -- -- 5.8 0.0 0.0 -- 0.0 5.8 5.8 5.8 -- 15 SDR certificates -- -- -- -- -- 0.0 -- -- -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- -0.4 -- -- -- -0.4 0.5 -- -- -- 0.5 -0.4 -1.017 Foreign deposits 3.4 -- 24.4 -- -- -- -- -- 27.8 -- -7.7 -- -- 77.9 20.1 77.9 57.718 Interbank claims -- -- -- -- -- -- -- -- -- -- -967.4 -797.5 193.0 -- -774.4 -797.5 -23.119 Checkable dep. and currency 390.2 -- 3.0 -- 42.6 -- 14.6 -- 450.4 -- -47.9 415.9 13.6 -- 416.2 415.9 -0.320 Time and savings deposits -793.2 -- 84.7 -- -1.0 -- -12.4 -- -721.9 -- 117.2 -617.3 -12.6 -- -617.3 -617.3 -- 21 Money market fund shares 276.0 -- -67.2 -- -- -- 9.8 -- 218.6 -- -220.2 17.6 19.3 -- 17.6 17.6 -- 22 Fed. funds and security repos -- -- 1.7 -- -- -- 10.0 -- 11.7 -- 765.5 720.3 48.8 -11.9 826.1 708.4 -117.723 Debt securities 1547.2 -0.9 -5.7 80.3 0.0 1546.9 336.3 -52.4 1877.9 1573.8 294.5 1274.9 842.4 166.0 3014.8 3014.8 -- 24 Open market paper -- -- -51.5 59.3 -- -- 4.0 -- -47.5 59.3 145.6 206.4 53.8 -113.8 151.9 151.9 -- 25 Treasury securities 1138.6 -- 35.9 -- -- 1546.9 300.1 -- 1474.6 1546.9 -345.3 -- 417.6 -- 1546.9 1546.9 -- 26 Agency- and GSE-backed sec. 670.8 -- 6.7 -- 0.0 0.0 36.3 -- 713.8 0.0 72.7 979.4 192.9 -- 979.4 979.4 -- 27 Municipal securities 30.4 -0.9 0.7 0.8 -- -- 6.4 -52.4 37.5 -52.5 -94.2 -- 4.2 -- -52.5 -52.5 -- 28 Corporate and fgn. bonds -292.6 -- 2.6 20.2 0.0 -- -10.5 -- -300.5 20.2 515.7 89.1 173.9 279.8 389.1 389.1 -- 29 Loans -81.6 1144.3 25.0 1057.6 155.0 0.0 7.7 0.7 106.1 2202.6 2474.9 348.0 93.3 123.6 2674.2 2674.2 -- 30 Depository inst. loans n.e.c. -- 69.4 -- 344.0 -- -- -- -- -- 413.5 473.6 -54.2 -- 114.3 473.6 473.6 -- 31 Other loans and advances -69.3 -128.5 -- 244.6 90.7 0.0 -- 0.7 21.4 116.9 413.8 402.2 93.3 9.3 528.4 528.4 -- 32 Mortgages -8.9 857.9 25.0 468.9 13.4 0.0 7.7 -- 37.1 1326.8 1289.6 -- -- -- 1326.8 1326.8 -- 33 Consumer credit -3.4 345.5 -0.0 -- 51.0 -- -- -- 47.6 345.5 297.9 -- -- -- 345.5 345.5 -- 34 U.S. direct investment: debt -- -- -26.6 -- -- -- -- -- -26.6 -- -14.8 -- -- -41.4 -41.4 -41.4 -- 35 Foreign direct investment: debt -- -- -- 69.7 -- -- -- -- -- 69.7 -- -41.2 28.6 -- 28.6 28.6 -- 36 Corporate equities 677.6 -- -137.3 -515.7 0.0 -- -3.4 -- 536.9 -515.7 -192.8 506.9 -167.2 185.7 176.9 176.9 -- 37 U.S. direct investment: equity -- -- 357.7 -- -- -- -- -- 357.7 -- 85.9 -- -- 443.6 443.6 443.6 -- 38 Foreign direct investment: equity -- -- -- 265.1 -- -- -- -- -- 265.1 -- 70.3 335.5 -- 335.5 335.5 -- 39 Miscellaneous other equity -91.6 -- 1.0 -95.2 -3.5 -- -- -- -94.0 -95.2 -20.0 -21.2 -- 2.4 -114.1 -114.1 -- 40 Mutual fund shares -728.2 -- -4.4 -- -- -- 1.2 -- -731.4 -- -146.8 -800.0 78.1 -- -800.0 -800.0 -- 41 Life insurance reserves 59.4 -- -- -- -- 0.4 -- -- 59.4 0.4 4.9 72.1 0.1 -8.1 64.4 64.4 -- 42 Pension entitlements 517.1 -- -- -- -- -- -- -- 517.1 -- 104.5 535.8 0.5 86.3 622.1 622.1 -- 43 Trade credit 6.9 33.1 231.9 291.2 1.9 47.2 20.4 64.9 261.0 436.4 26.2 29.0 44.3 -2.2 331.5 463.2 131.644 Taxes payable -- -- -- 39.1 -75.5 -- 11.5 -- -64.1 39.1 -- -75.9 -- -- -64.1 -36.8 27.345 Miscellaneous 94.4 -1.5 1032.5 106.3 0.0 -199.7 0.9 242.0 1127.8 147.2 154.0 349.2 7.2 17.2 1289.0 513.6 -775.446 Sector discrepancies (1 less 4) -500.4 -- -389.3 -- 78.2 -- 31.0 -- -780.5 -- -384.8 -- 511.1 -- -654.2 -- -654.2General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

2

Z.1, December 7, 2023 Financial Accounts Matrix--Transactions

Households State Domestic Domestic Instrument

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

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

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

1 Gross saving less net cap. transfers -- 156000105 -- 146000105 -- 316000105 -- 216000105 -- 386000105 -- 796000105 -- 266000105 -- 896000105 -- 2 Capital consumption -- 156300005 -- 146300005 -- 316300001 -- 216300001 -- 386300005 -- 796330005 -- -- -- 886300005 -- 3 Net saving (1 less 2) -- 156006305 -- 146006305 -- 316006305 -- 216006305 -- 386006305 -- 796006305 -- 266000105 -- 896006305 -- 4 Gross investment (5 plus 11) 155090005 -- 145090005 -- 315090005 -- 215090005 -- 385090005 -- 795090005 -- 265090005 -- 895090005 -- 9070050055 Capital expenditures 155050005 -- 145050005 -- 315050005 -- 215050005 -- 385050005 -- 795013005 -- 265420005 -- 895050005 -- 9060001056 Consumer durables 155111003 -- -- -- -- -- -- -- 155111003 -- -- -- -- -- 155111003 -- -- 7 Residential 155012005 -- 145012005 -- 315012065 -- 215012063 -- 385012005 -- -- -- -- -- 885012005 -- -- 8 Nonresidential 165013005 -- 145013005 -- 315013005 -- 215013005 -- 385013005 -- 795013005 -- -- -- 885013005 -- -- 9 Inventory change -- -- 145020005 -- -- -- -- -- 145020005 -- -- -- -- -- 145020005 -- -- 10 Nonproduced nonfinancial assets 155420003 -- 105420005 -- 315420003 -- 215420003 -- 385420005 -- -- -- 265420005 -- -- -- -- 11 Net lending (+) or net borrowing (-) 155000005 -- 145000005 -- 315000005 -- 215000005 -- 385000005 -- 795000005 -- 265000005 -- 895000005 -- 90500000512 Net acquisition of financial assets 154090005 -- 144090005 -- 314090005 -- 214090005 -- 384090005 -- 794090005 -- 264090005 -- 894090005 -- -- 13 Net increase in liabilities and equity -- 154190005 -- 144194005 -- 314190005 -- 214190005 -- 384194005 -- 794194005 -- 264194005 -- 894194005 -- 14 U.S. official reserve assets -- -- -- -- 313011005 313111303 -- -- 313011005 313111303 713011005 -- 263011005 263111005 893011005 893111005 -- 15 SDR certificates -- -- -- -- -- 713014003 -- -- -- 713014003 713014003 -- -- -- 713014003 713014003 -- 16 Treasury currency -- -- -- -- -- 313112003 -- -- -- 313112003 713012003 -- -- -- 713012003 313112003 90301200517 Foreign deposits 153091003 -- 103091003 -- -- -- -- -- 383091005 -- 793091005 -- -- 263191005 893091005 263191005 90309100518 Interbank claims -- -- -- -- -- -- -- -- -- -- 794010005 794110005 264016005 -- 894010005 794110005 90401000519 Checkable dep. and currency 153020005 -- 143020005 -- 313020005 -- 213020005 -- 383020005 -- 793020005 793120005 263020005 -- 893020005 793120005 90302000520 Time and savings deposits 153030005 -- 143030005 -- 313030003 -- 213030000 -- 383030005 -- 793030005 703130005 263030005 -- 703130005 703130005 -- 21 Money market fund shares 153034005 -- 143034005 -- -- -- 213034003 -- 383034005 -- 793034005 634090005 263034003 -- 634090005 634090005 -- 22 Fed. funds and security repos -- -- 102051003 -- -- -- 212051003 -- 382051005 -- 792050005 792150005 262051005 262151003 892050005 892150005 90205000523 Debt securities 154022005 163162003 144022005 104122005 314022005 314122005 214022005 213162005 384022005 384122005 794022005 794122005 264022005 264122005 894122005 894122005 -- 24 Open market paper -- -- 103069100 103169100 -- -- 213069103 -- 383069105 103169100 793069175 793169175 263069103 263169105 893169175 893169175 -- 25 Treasury securities 153061105 -- 143061105 -- -- 313161105 213061105 -- 383061105 313161105 793061105 -- 263061105 -- 313161105 313161105 -- 26 Agency- and GSE-backed sec. 153061705 -- 103061703 -- 313061703 313161705 213061703 -- 383061705 313161705 793061705 423161705 263061705 -- 893161705 893161705 -- 27 Municipal securities 153062005 163162003 143062005 103162000 -- -- 213062003 213162005 383062005 383162005 793062005 -- 263062003 -- 383162005 383162005 -- 28 Corporate and fgn. bonds 153063005 -- 123063003 103163005 313063763 -- 213063003 -- 383063005 103163005 793063005 793163005 263063005 263163005 893063005 893163005 -- 29 Loans 154023005 154123005 144023005 144123005 314023005 314123005 213065005 213169203 384023005 384123005 794023005 794123005 263069005 264123005 894123005 894123005 -- 30 Depository inst. loans n.e.c. -- 153168005 -- 143168005 -- -- -- -- -- 383168005 793068005 793168005 -- 263168005 793068005 793068005 -- 31 Other loans and advances 153069005 153169005 -- 143169005 313069005 313169003 -- 213169203 383069005 383169005 793069005 793169005 263069005 263169005 893169005 893169005 -- 32 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 -- -- -- 893065005 893065005 -- 33 Consumer credit 163066223 153166000 143066005 -- 313066220 -- -- -- 383066005 153166000 793066005 -- -- -- 153166000 153166000 -- 34 U.S. direct investment: debt -- -- 103092305 -- -- -- -- -- 103092305 -- 793092305 -- -- 263192305 263192305 263192305 -- 35 Foreign direct investment: debt -- -- -- 143192305 -- -- -- -- -- 143192305 -- 793192305 263092305 -- 263092305 263092305 -- 36 Corporate equities 153064105 -- 103064103 103164105 313064105 -- 213064103 -- 383064105 103164105 793064105 793164105 263064105 263164100 893064105 893064105 -- 37 U.S. direct investment: equity -- -- 103092105 -- -- -- -- -- 103092105 -- 793092105 -- -- 263192101 263192101 263192101 -- 38 Foreign direct investment: equity -- -- -- 143192105 -- -- -- -- -- 143192105 -- 793192105 263092101 -- 263092101 263092101 -- 39 Miscellaneous other equity 153081115 -- 143092405 112090205 313081115 -- -- -- 383094905 112090205 793094905 793194905 -- 313092803 893194905 893194905 -- 40 Mutual fund shares 153064205 -- 103064203 -- -- -- 213064203 -- 383064205 -- 793064205 653164205 263064203 -- 653164205 653164205 -- 41 Life insurance reserves 153040005 -- -- -- -- 313140003 -- -- 153040005 313140003 793040005 543140005 543141905 263140005 893140005 893140005 -- 42 Pension entitlements 153050005 -- -- -- -- -- -- -- 153050005 -- 543050005 583150005 543151905 263150005 893150005 893150005 -- 43 Trade credit 163070005 163170005 143070005 143170005 313070000 313170005 213070003 213170003 383070005 383170005 793070005 793170005 263070005 263170005 893070005 893170005 90307000544 Taxes payable -- -- -- 143178005 313078000 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 90307800545 Miscellaneous 153090005 543077073 143090005 143190005 313091105 313190005 213093003 223073045 383090005 383190005 793090005 793190005 263090005 263190005 893090005 893190005 90309000546 Sector discrepancies (1 less 4) 157005005 -- 107005005 -- 317005005 -- 217005005 -- 387005005 -- 797005005 -- 267005005 -- 897005005 -- 907005005General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

3

Z.1, December 7, 2023 Financial Accounts Matrix--Levels for 2022

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

Households State Domestic Domestic Instrument

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

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

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

1 Total financial assets 107930.3 -- 35049.2 -- 3621.4 -- 4492.8 -- 151093.6 -- 124999.3 -- 41472.6 -- 317565.5 -- -729.52 Total liabilities and equity -- 19924.3 -- 104757.5 -- 28417.7 -- 7667.3 -- 160766.7 -- 129924.5 -- 26144.8 -- 316836.0 -- 3 Total liabilities -- 19924.3 -- 37834.4 -- 28417.7 -- 7667.3 -- 93843.6 -- 112981.3 -- 7688.9 -- 214513.9 -- 4 U.S. official reserve assets -- -- -- -- 214.1 152.9 -- -- 214.1 152.9 29.5 -- 152.9 232.6 396.5 385.5 -11.05 SDR certificates -- -- -- -- -- 5.2 -- -- -- 5.2 5.2 -- -- -- 5.2 5.2 -- 6 Treasury currency -- -- -- -- -- 22.6 -- -- -- 22.6 51.4 -- -- -- 51.4 22.6 -28.87 Foreign deposits 51.7 -- 190.6 -- -- -- -- -- 242.3 -- 11.7 -- -- 914.5 254.0 914.5 660.58 Interbank claims -- -- -- -- -- -- -- -- -- -- 2780.0 3148.0 416.4 -- 3196.5 3148.0 -48.59 Checkable dep. and currency 4537.7 -- 2522.4 -- 454.7 -- 360.4 -- 7875.1 -- 678.6 9776.2 1223.1 -- 9776.9 9776.2 -0.710 Time and savings deposits 10270.8 -- 1749.9 -- 1.1 -- 370.5 -- 12392.3 -- 747.1 13820.3 681.0 -- 13820.3 13820.3 -- 11 Money market fund shares 3079.7 -- 876.5 -- -- -- 65.1 -- 4021.3 -- 1018.0 5223.1 183.8 -- 5223.1 5223.1 -- 12 Fed. Funds and security repos -- -- 28.5 -- -- -- 199.3 -- 227.7 -- 5427.5 5402.5 1416.2 1161.2 7071.4 6563.7 -507.713 Debt securities 4592.9 201.7 446.0 8013.0 0.5 26851.4 2231.3 3208.3 7270.7 38274.4 34016.2 16879.5 12603.1 3713.2 53890.0 58867.0 4977.014 Open market paper -- -- 204.8 197.6 -- -- 85.2 -- 289.9 197.6 746.4 698.3 191.3 331.8 1227.6 1227.6 -- 15 Treasury securities 1633.9 -- 163.6 -- -- 26831.6 1563.3 -- 3360.8 26831.6 13930.7 -- 7318.5 -- 24610.0 26831.6 2221.616 Agency- and GSE-backed sec. 1077.4 -- 30.6 -- 0.0 19.8 410.1 -- 1518.1 19.8 7922.6 11658.8 1260.6 -- 10701.2 11678.6 977.417 Municipal securities 1623.1 201.7 28.8 618.8 -- -- 25.9 3208.3 1677.8 4028.8 2096.9 -- 108.4 -- 3883.1 4028.8 145.718 Corporate and fgn. bonds 258.5 -- 18.3 7196.6 0.5 -- 146.9 -- 424.1 7196.6 9319.7 4522.5 3724.3 3381.4 13468.1 15100.4 1632.319 Loans 1214.6 19182.0 240.3 12755.8 2282.4 0.0 276.6 23.3 4013.9 31961.1 30209.3 2466.7 1130.5 925.9 35353.7 35353.7 -- 20 Depository inst. loans n.e.c. -- 492.5 -- 3109.1 -- -- -- -- -- 3601.6 4904.6 440.6 -- 862.4 4904.6 4904.6 -- 21 Other loans and advances 1118.2 692.1 -- 3164.8 627.1 0.0 -- 23.3 1745.3 3880.1 3093.9 2026.1 1130.5 63.5 5969.7 5969.7 -- 22 Mortgages 77.7 13103.4 204.5 6482.0 168.0 0.0 276.6 -- 726.8 19585.3 18858.5 -- -- -- 19585.3 19585.3 -- 23 Consumer credit 18.7 4894.0 35.8 -- 1487.3 -- -- -- 1541.8 4894.0 3352.2 -- -- -- 4894.0 4894.0 -- 24 U.S. direct investment: debt -- -- -59.9 -- -- -- -- -- -59.9 -- -12.4 -- -- -72.2 -72.2 -72.2 -- 25 Foreign direct investment: debt -- -- -- 387.2 -- -- -- -- -- 387.2 -- 126.0 513.2 -- 513.2 513.2 -- 26 Corporate equities 26504.9 -- 2396.0 41472.9 33.2 -- 239.3 -- 29173.3 41472.9 24717.7 12943.6 10831.5 10306.0 64722.5 64722.5 -- 27 U.S. direct investment: equity -- -- 6693.8 -- -- -- -- -- 6693.8 -- 1383.2 -- -- 8077.0 8077.0 8077.0 -- 28 Foreign direct investment: equity -- -- -- 9243.1 -- -- -- -- -- 9243.1 -- 1234.3 10477.3 -- 10477.3 10477.3 -- 29 Miscellaneous other equity 16316.9 -- 16.8 16207.1 88.3 -- -- -- 16422.0 16207.1 2623.3 2765.3 -- 72.9 19045.3 19045.3 -- 30 Mutual fund shares 9749.3 -- 358.5 -- -- -- 105.6 -- 10213.3 -- 6081.1 17333.4 1038.9 -- 17333.4 17333.4 -- 31 Life insurance reserves 1933.3 -- -- -- -- 53.0 -- -- 1933.3 53.0 561.0 2345.1 0.3 96.5 2494.6 2494.6 -- 32 Pension entitlements 27867.7 -- -- -- -- -- -- -- 27867.7 -- 484.2 28096.7 1.3 256.5 28353.2 28353.2 -- 33 Trade credit 293.2 504.0 5666.0 4227.3 97.3 555.6 295.9 1227.3 6352.5 6514.3 438.3 515.9 555.1 82.4 7345.8 7112.6 -233.234 Taxes payable -- -- -- 491.2 447.1 -- 220.9 -- 668.0 491.2 -- 69.9 -- -- 668.0 561.1 -106.935 Miscellaneous 1517.8 36.6 13923.7 11959.8 2.6 777.1 127.9 3208.3 15572.0 15981.8 13748.2 7778.2 248.2 378.3 29568.5 24138.4 -5430.1General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 24), equity in noncorporate business (line 30), and foreign direct investment in the U.S. (FDI) equity (line 34) for domestic sectors or U.S. direct investment abroad equity for the rest of the world (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
Summary

4 Z.1, December 7, 2023 Financial Accounts Matrix--Levels

Households State Domestic Domestic Instrument

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

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

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

1 Total financial assets 154090005 -- 144090005 -- 314090005 -- 214090005 -- 384090005 -- 794090005 -- 264090005 -- 894090005 -- 9070050152 Total liabilities and equity -- 154190005 -- 144194005 -- 314190005 -- 214190005 -- 384194005 -- 794194005 -- 264194005 -- 894194005 -- 3 Total liabilities -- 154190005 -- 144190005 -- 314190005 -- 214190005 -- 384190005 -- 794190005 -- 264190005 -- 894190005 -- 4 U.S. official reserve assets -- -- -- -- 313011005 313111303 -- -- 313011005 313111303 713011005 -- 263011005 263111005 893011005 893111005 9030110055 SDR certificates -- -- -- -- -- 713014003 -- -- -- 713014003 713014003 -- -- -- 713014003 713014003 -- 6 Treasury currency -- -- -- -- -- 313112003 -- -- -- 313112003 713012003 -- -- -- 713012003 313112003 9030120057 Foreign deposits 153091003 -- 103091003 -- -- -- -- -- 383091005 -- 793091005 -- -- 263191005 893091005 263191005 9030910058 Interbank claims -- -- -- -- -- -- -- -- -- -- 794010005 794110005 264016005 -- 894010005 794110005 9040100059 Checkable dep. and currency 153020005 -- 143020005 -- 313020005 -- 213020005 -- 383020005 -- 793020005 793120005 263020005 -- 893020005 793120005 90302000510 Time and savings deposits 153030005 -- 143030005 -- 313030003 -- 213030000 -- 383030005 -- 793030005 703130005 263030005 -- 703130005 703130005 -- 11 Money market fund shares 153034005 -- 143034005 -- -- -- 213034003 -- 383034005 -- 793034005 634090005 263034003 -- 634090005 634090005 -- 12 Fed. Funds and security repos -- -- 102051003 -- -- -- 212051003 -- 382051005 -- 792050005 792150005 262051005 262151003 892050005 892150005 90205000513 Debt securities 154022005 163162003 144022005 104122005 314022005 314122005 214022005 213162005 384022005 384122005 794022005 794122005 264022005 264122005 894022005 894122005 90402200514 Open market paper -- -- 103069100 103169100 -- -- 213069103 -- 383069105 103169100 793069175 793169175 263069103 263169105 893169175 893169175 -- 15 Treasury securities 153061105 -- 143061105 -- -- 313161105 213061105 -- 383061105 313161105 793061105 -- 263061105 -- 893061105 313161105 90306110316 Agency- and GSE-backed sec. 153061705 -- 103061703 -- 313061703 313161705 213061703 -- 383061705 313161705 793061705 423161705 263061705 -- 893061705 893161705 90306170317 Municipal securities 153062005 163162003 143062005 103162000 -- -- 213062003 213162005 383062005 383162005 793062005 -- 263062003 -- 893062005 383162005 90306200318 Corporate and fgn. bonds 153063005 -- 123063003 103163005 313063763 -- 213063003 -- 383063005 103163005 793063005 793163005 263063005 263163005 893063005 893163005 90306300319 Loans 154023005 154123005 144023005 144123005 314023005 314123005 213065005 213169203 384023005 384123005 794023005 794123005 263069005 264123005 894123005 894123005 -- 20 Depository inst. loans n.e.c. -- 153168005 -- 143168005 -- -- -- -- -- 383168005 793068005 793168005 -- 263168005 793068005 793068005 -- 21 Other loans and advances 153069005 153169005 -- 143169005 313069005 313169003 -- 213169203 383069005 383169005 793069005 793169005 263069005 263169005 893169005 893169005 -- 22 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 -- -- -- 893065005 893065005 -- 23 Consumer credit 163066223 153166000 143066005 -- 313066220 -- -- -- 383066005 153166000 793066005 -- -- -- 153166000 153166000 -- 24 U.S. direct investment: debt -- -- 103092305 -- -- -- -- -- 103092305 -- 793092305 -- -- 263192305 263192305 263192305 -- 25 Foreign direct investment: debt -- -- -- 143192305 -- -- -- -- -- 143192305 -- 793192305 263092305 -- 263092305 263092305 -- 26 Corporate equities 153064105 -- 103064103 103164105 313064105 -- 213064103 -- 383064105 103164105 793064105 793164105 263064105 263164100 893064105 893064105 -- 27 U.S. direct investment: equity -- -- 103092105 -- -- -- -- -- 103092105 -- 793092105 -- -- 263192101 263192101 263192101 -- 28 Foreign direct investment: equity -- -- -- 143192105 -- -- -- -- -- 143192105 -- 793192105 263092101 -- 263092101 263092101 -- 29 Miscellaneous other equity 153081115 -- 143092405 112090205 313081115 -- -- -- 383094905 112090205 793094905 793194905 -- 313092803 893194905 893194905 -- 30 Mutual fund shares 153064205 -- 103064203 -- -- -- 213064203 -- 383064205 -- 793064205 653164205 263064203 -- 653164205 653164205 -- 31 Life insurance reserves 153040005 -- -- -- -- 313140003 -- -- 153040005 313140003 793040005 543140005 543141905 263140005 893140005 893140005 -- 32 Pension entitlements 153050005 -- -- -- -- -- -- -- 153050005 -- 543050005 583150005 543151905 263150005 893150005 893150005 -- 33 Trade credit 163070005 163170005 143070005 143170005 313070000 313170005 213070003 213170003 383070005 383170005 793070005 793170005 263070005 263170005 893070005 893170005 90307000534 Taxes payable -- -- -- 143178005 313078000 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 90307800535 Miscellaneous 153090005 543077073 143090005 143190005 313091105 313190005 213093003 223073045 383090005 383190005 793090005 793190005 263090005 263190005 893090005 893190005 903090005General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 24), equity in noncorporate business (line 30), and foreign direct investment in the U.S. (FDI) equity (line 34) for domestic sectors or U.S. direct investment abroad equity for the rest of the world (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
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D.1 Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest

One-to-four-family Consumer Federal local financial of the

Total Total res. mortgages credit Total Corporate government governments sectors world

 FG384104005 FG154104005 FG153165105 FG153166000 FG144104005 FG104104005 FG314104005 FG214104005 FG794104005 FG264104005

1988 9.21 9.76 11.79 6.67 10.00 11.06 8.61 5.98 12.62 0.36

1989 7.50 9.38 10.94 6.30 6.29 7.32 7.63 5.31 10.29 -0.28

1990 6.56 6.83 8.85 1.87 3.62 5.37 10.99 5.00 8.62 5.06

1991 4.74 5.63 7.01 -1.07 -2.08 -2.04 11.18 9.23 6.89 2.74

1992 4.66 5.21 6.49 1.13 -0.31 0.58 10.92 1.53 8.17 4.50

1993 5.78 6.09 5.51 7.44 3.11 5.28 8.40 5.29 11.44 15.67

1994 5.27 7.53 5.56 15.23 5.66 7.43 5.11 -3.95 13.40 -2.99

1995 4.92 6.98 4.86 14.39 5.94 6.66 4.38 -5.49 11.89 15.90

1996 5.30 7.05 6.18 9.05 5.72 5.55 4.60 -1.96 12.90 14.19

1997 5.79 6.55 6.11 5.52 9.22 9.57 1.46 4.95 11.47 10.36

1998 7.07 8.04 8.08 7.22 12.63 12.34 -0.26 6.20 18.83 4.93

1999 6.66 9.38 9.35 7.80 10.13 9.13 -0.68 3.26 16.97 2.77

2000 4.72 8.71 8.65 11.36 8.80 7.85 -6.30 1.43 11.48 7.36

2001 5.83 8.85 10.55 8.65 4.75 3.26 1.35 8.80 11.13 -1.26

2002 6.75 9.85 13.26 5.56 2.45 0.31 6.81 11.09 8.63 7.51

2003 7.82 12.30 14.49 5.30 1.31 0.40 9.50 8.32 11.25 1.73

2004 9.13 11.32 13.44 5.57 6.21 4.04 8.31 11.62 9.05 7.99

2005 8.84 10.94 13.76 4.52 8.11 5.65 6.61 6.63 8.92 7.82

2006 8.48 10.60 11.19 5.18 9.74 7.39 3.92 4.40 10.80 21.42

2007 8.10 6.95 7.20 6.11 12.44 11.59 4.66 6.34 13.58 15.44

2008 5.85 0.26 0.74 1.31 5.68 4.04 21.44 1.38 4.29 -10.39

2009 3.64 0.42 0.88 -3.58 -3.77 -4.61 20.41 4.79 -9.96 14.53

2010 4.20 -0.90 -1.50 -1.10 -0.69 -0.83 18.53 2.87 -4.26 9.53

2011 3.74 0.26 -0.59 4.13 2.68 5.26 10.82 -1.01 -3.20 7.23

2012 4.67 0.22 -1.09 5.76 5.81 6.59 10.12 -0.01 -0.81 8.26

2013 4.29 2.30 -0.12 6.10 5.22 6.69 6.67 -0.13 1.55 8.82

2014 3.84 1.08 -0.05 7.09 6.93 7.01 5.37 -2.21 1.99 8.83

2015 4.54 2.63 1.27 7.05 7.10 7.92 5.02 0.50 1.42 -0.66

2016 4.36 3.18 2.06 6.95 5.03 3.30 5.56 1.04 2.62 1.28

2017 4.29 3.98 3.06 5.34 6.18 4.54 3.74 -0.00 2.31 11.66

2018 4.74 3.23 2.96 4.51 4.37 3.85 7.58 -1.24 1.73 6.55

2019 4.68 3.51 2.82 4.62 4.63 6.17 6.58 -0.03 2.65 1.82

2020 12.34 3.40 3.76 -0.29 9.40 9.73 24.06 2.95 6.22 2.43

2021 6.30 7.41 7.55 5.68 4.95 4.58 7.13 2.16 5.26 14.05

2022 5.69 6.25 7.03 7.60 5.83 5.58 6.11 -1.57 9.16 5.77

 Q2 4.91 3.92 2.80 4.48 6.82 5.67 5.18 -0.54 3.43 7.26

 Q3 4.62 2.96 2.74 4.64 5.57 3.80 6.25 -0.43 4.34 7.82

 Q4 4.69 4.81 3.18 6.42 5.65 3.87 4.02 3.09 -0.94 19.08

2018 -- Q1 5.68 3.60 2.76 4.83 4.34 3.92 10.38 -2.64 1.36 10.56

 Q2 4.32 3.08 3.26 2.90 3.23 2.15 7.18 0.11 0.71 5.88

 Q3 4.48 3.28 3.29 4.80 4.88 4.66 5.92 0.29 1.97 6.82

 Q4 4.09 2.81 2.42 5.21 4.55 4.17 6.01 -2.71 2.85 2.62

2019 -- Q1 4.32 2.50 2.36 4.59 6.38 8.91 5.17 -2.15 1.85 -4.88

 Q2 3.74 4.12 3.29 3.87 3.96 5.08 4.17 -1.80 3.43 9.23

 Q3 6.41 3.63 3.02 5.06 5.69 7.91 10.42 0.82 4.42 1.78

 Q4 3.95 3.61 2.49 4.64 2.21 2.28 5.95 3.04 0.82 0.89

2020 -- Q1 10.30 3.34 2.79 0.98 19.90 27.76 9.26 0.93 29.85 -9.10

 Q2 27.02 -0.73 2.44 -6.97 15.34 16.30 64.61 3.54 -11.18 4.60

 Q3 4.60 5.33 5.22 2.68 0.22 -3.52 7.48 5.63 -0.01 0.67

 Q4 5.68 5.51 4.41 2.23 1.24 -2.14 9.91 1.61 6.76 13.50

2021 -- Q1 4.98 6.02 5.39 4.01 4.87 4.43 4.55 3.36 6.09 21.81

 Q2 7.24 7.45 7.99 6.22 2.66 2.30 11.21 3.20 5.24 8.14

 Q3 3.56 7.23 7.68 5.38 4.74 5.25 0.08 3.03 4.94 19.72

 Q4 8.77 7.85 7.98 6.31 7.09 5.88 12.06 -0.98 4.16 4.76

2022 -- Q1 8.31 8.01 8.58 7.73 7.92 8.39 10.22 -2.36 12.87 9.62

 Q2 6.21 6.91 8.59 7.64 7.17 7.25 5.56 1.63 6.51 8.44

 Q3 4.53 6.31 6.68 6.93 4.15 3.94 4.19 -0.49 5.75 10.82

 Q4 3.23 3.28 3.69 7.26 3.52 2.21 3.98 -5.07 10.34 -5.20

2023 -- Q1 3.78 2.40 2.74 4.24 4.59 4.95 4.45 1.21 12.23 1.84

 Q2 6.27 2.71 2.88 2.08 1.84 2.02 12.67 2.77 -6.18 4.37

 Q3 5.24 2.52 2.51 1.05 1.53 1.40 10.60 -0.35 -2.65 0.32

1. Debt securities and loans. Data shown are on an end-of-period basis.
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D.2 Borrowing by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest 

One-to-four-family Consumer Federal local financial of the

Total Total res. mortgages credit Total Corporate government governments sectors world

 FA384104005 FA154104005 FA153165105 FA153166000 FA144104005 FA104104005 FA314104005 FA214104005 FA794104005 FA264104005

1988 826.6 274.9 215.6 46.6 313.4 228.7 187.9 50.4 244.5 1.1

1989 735.3 290.9 224.9 47.0 216.1 167.3 180.9 47.4 224.3 -1.0

1990 691.6 231.3 200.0 15.1 133.0 132.9 280.2 47.1 209.9 17.9

1991 533.9 205.2 174.5 -8.8 -79.1 -53.2 316.6 91.2 182.5 10.1

1992 549.4 200.7 173.0 9.2 -11.5 14.8 343.8 16.5 231.1 16.9

1993 713.8 247.1 156.5 61.4 115.6 135.5 293.2 57.9 351.8 62.0

1994 689.1 324.0 166.8 135.0 217.2 201.9 193.5 -45.5 460.1 -14.5

1995 677.6 323.0 154.0 147.0 241.2 194.9 174.2 -60.8 463.9 75.3

1996 766.7 349.0 205.2 105.7 247.2 174.1 191.1 -20.5 563.4 85.5

1997 882.1 347.9 216.1 70.3 420.0 315.4 63.4 50.8 565.7 71.4

1998 1138.7 455.2 303.2 97.1 628.1 445.4 -11.4 66.8 1031.3 37.6

1999 1148.7 573.8 379.4 112.4 567.7 370.4 -30.1 37.3 1104.3 22.3

2000 870.6 582.8 383.5 176.5 545.9 350.0 -275.0 16.9 873.9 57.2

2001 1124.2 642.8 508.2 150.6 320.8 157.0 55.2 105.5 945.6 -10.5

2002 1377.7 778.4 706.2 105.2 172.6 15.3 282.1 144.6 819.7 62.3

2003 1703.2 1067.2 874.1 105.9 94.7 19.9 420.7 120.5 1160.6 16.3

2004 2146.2 1105.4 929.4 117.2 455.7 201.8 402.8 182.2 1027.9 91.4

2005 2337.6 1192.0 1081.2 100.4 634.0 295.5 346.9 164.7 1105.4 98.9

2006 2439.4 1281.1 1000.3 120.1 822.5 408.2 219.1 116.6 1452.4 283.9

2007 2529.4 930.3 715.5 150.2 1153.4 687.4 270.4 175.4 2019.0 251.7

2008 1973.3 37.1 79.1 34.3 592.9 267.7 1302.5 40.7 728.7 -203.6

2009 1292.9 59.6 92.7 -94.6 -415.3 -317.7 1505.8 142.7 -1757.9 227.0

2010 1536.1 -126.5 -156.3 -28.2 -72.9 -53.6 1645.9 89.6 -670.3 187.7

2011 1419.5 36.0 -58.7 109.4 277.5 335.7 1138.7 -32.7 -471.5 162.5

2012 1828.9 29.9 -107.0 158.7 618.7 442.8 1180.6 -0.3 -114.2 204.0

2013 1751.4 312.3 -11.8 177.6 585.9 476.6 857.3 -4.0 215.8 244.7

2014 1631.5 149.2 -4.8 219.1 816.7 532.1 735.9 -70.4 279.9 255.8

2015 2001.7 366.3 119.5 233.5 895.3 643.9 724.6 15.5 204.1 -21.0

2016 2001.9 449.8 196.0 236.2 676.8 288.5 842.7 32.5 374.3 39.5

2017 2052.1 579.5 295.7 194.3 874.1 410.2 598.6 -0.1 336.2 371.1

2018 2368.5 487.7 294.2 172.7 661.7 368.7 1258.1 -39.0 257.3 244.3

2019 2468.2 547.2 287.6 185.2 747.0 633.4 1174.9 -0.9 400.2 70.7

2020 6803.9 548.9 394.4 -12.0 1581.6 1055.6 4581.2 92.2 963.2 103.4

2021 3903.3 1238.2 819.9 237.8 912.1 545.2 1683.4 69.6 865.4 633.4

2022 3776.5 1143.4 837.7 345.5 1137.8 704.8 1546.9 -51.7 1622.9 289.6

 Q2 2369.7 575.8 272.2 165.0 982.8 520.9 827.9 -16.8 501.4 240.6

 Q3 2253.0 438.1 268.3 172.9 816.4 353.9 1011.9 -13.4 639.8 267.5

 Q4 2315.6 718.5 313.4 242.0 839.4 364.2 660.6 97.1 -140.2 671.1

2018 -- Q1 2841.1 544.0 274.3 184.9 656.9 375.7 1723.7 -83.5 202.6 393.9

 Q2 2191.0 469.1 325.9 112.4 494.4 208.0 1224.1 3.4 106.3 223.8

 Q3 2309.1 503.4 331.5 187.3 769.0 468.0 1027.5 9.1 293.5 258.9

 Q4 2132.6 434.2 245.2 206.1 726.5 423.3 1057.1 -85.2 426.7 100.8

2019 -- Q1 2274.6 389.2 240.7 184.0 1029.4 915.2 923.1 -67.2 278.6 -189.9

 Q2 1993.2 645.8 338.0 157.0 648.3 532.8 754.8 -55.8 520.6 362.6

 Q3 3445.9 575.2 312.0 207.2 940.8 839.2 1904.6 25.3 675.3 73.0

 Q4 2159.0 578.5 259.6 192.4 369.5 246.5 1116.9 94.0 126.2 37.1

2020 -- Q1 5680.9 540.3 292.0 41.3 3349.0 3012.0 1762.8 28.9 4621.5 -386.8

 Q2 15286.8 -119.6 257.4 -293.3 2709.5 1891.1 12586.2 110.7 -1860.4 186.2

 Q3 2777.1 866.4 553.9 111.0 41.0 -425.1 1691.9 177.7 -2.1 28.4

 Q4 3470.8 908.5 474.2 92.9 226.9 -255.6 2283.8 51.5 1093.7 585.6

2021 -- Q1 3085.5 1005.0 585.4 167.9 897.0 527.9 1075.6 107.8 1002.0 983.5

 Q2 4539.6 1263.5 879.7 262.8 494.9 276.7 2677.5 103.7 874.4 378.8

 Q3 2290.8 1275.1 881.2 237.9 897.8 645.0 18.9 99.0 855.4 935.8

 Q4 5697.4 1409.2 933.3 282.7 1358.8 731.1 2961.7 -32.3 729.7 235.3

2022 -- Q1 5522.0 1467.0 1023.0 351.5 1546.4 1060.0 2586.3 -77.6 2281.8 483.1

 Q2 4214.0 1284.4 1038.8 354.1 1433.5 942.3 1443.1 53.1 1190.3 408.1

 Q3 3123.4 1192.3 825.4 327.4 846.0 522.0 1101.2 -16.1 1069.7 505.3

 Q4 2246.4 630.0 463.6 349.0 725.4 295.0 1057.0 -166.0 1949.9 -238.1

2023 -- Q1 2653.1 465.5 348.4 207.6 953.2 665.6 1195.3 39.1 2366.6 85.5

 Q2 4445.4 527.7 368.5 102.7 387.5 274.9 3440.4 89.8 -1232.1 205.8

 Q3 3774.6 495.2 322.9 52.4 322.5 191.3 2968.3 -11.4 -520.5 14.9

(1) Debt securities and loans.
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D.3 Debt Outstanding by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest

One-to-four-family Consumer Federal local financial of the

Total Total res. mortgages credit Total Corporate government governments sectors world

 LA384104005 LA154104005 LA153165105 LA153166000 LA144104005 LA104104005 LA314104005 LA214104005 LA794104005 LA264104005

1988 9797.4 3100.6 2054.8 745.2 3434.2 2285.0 2369.6 893.0 2181.1 351.9

1989 10549.7 3384.0 2260.1 809.3 3674.9 2477.0 2550.5 940.4 2434.0 354.8

1990 11268.6 3644.4 2489.3 824.4 3806.0 2608.1 2830.8 987.4 2647.0 368.7

1991 11799.2 3853.2 2667.4 815.6 3720.0 2550.3 3147.4 1078.6 2828.3 375.5

1992 12351.8 4053.9 2840.4 824.8 3711.7 2568.2 3491.1 1095.1 3075.1 395.5

1993 13080.3 4303.3 2999.2 886.2 3839.7 2716.2 3784.3 1153.0 3432.2 484.8

1994 13775.8 4627.3 3165.9 1021.2 4063.2 2924.4 3977.8 1107.5 3900.4 473.4

1995 14469.2 4950.2 3319.9 1168.2 4320.3 3135.1 4152.0 1046.7 4367.2 602.5

1996 15237.6 5313.3 3538.1 1273.9 4555.0 3296.8 4343.1 1026.2 4930.6 689.1

1997 16117.6 5661.2 3754.2 1344.2 4973.0 3610.2 4406.5 1076.9 5476.2 763.6

1998 17256.3 6116.4 4057.4 1441.3 5601.0 4055.6 4395.1 1143.8 6507.5 806.0

1999 18437.0 6687.9 4434.5 1553.6 6203.1 4460.4 4365.0 1181.0 7609.5 776.7

2000 19295.6 7258.7 4816.8 1741.3 6749.0 4810.4 4090.0 1197.9 8495.4 837.1

2001 20402.8 7901.5 5324.9 1891.8 7052.8 4950.4 4145.2 1303.4 9496.9 829.5

2002 21780.5 8679.9 6031.1 1997.0 7225.4 4965.6 4427.3 1447.9 10316.7 944.5

2003 23516.0 9765.3 6914.9 2102.9 7334.2 4999.6 4848.0 1568.4 11352.5 1144.4

2004 26446.1 10896.0 7859.1 2220.1 7814.0 5225.4 5250.9 2485.2 12395.2 1265.4

2005 28770.7 12088.0 8940.4 2320.6 8448.0 5520.9 5584.8 2649.9 13446.1 1325.7

2006 31227.7 13384.7 9940.3 2456.7 9272.6 5930.1 5803.9 2766.5 14866.2 1630.2

2007 33733.9 14286.8 10625.0 2609.5 10430.9 6624.0 6074.3 2941.9 16995.8 1959.7

2008 35568.7 14197.1 10577.3 2643.8 11012.2 6886.8 7376.8 2982.6 17643.8 1562.1

2009 36542.8 14033.9 10441.3 2555.0 10500.9 6484.7 8882.6 3125.4 15751.1 1968.9

2010 37920.5 13801.4 9992.3 2646.8 10369.6 6382.9 10528.6 3221.0 14722.2 2247.7

2011 39184.5 13689.2 9785.5 2756.2 10639.8 6718.6 11667.3 3188.3 14171.8 2469.8

2012 40834.7 13578.6 9537.1 2912.9 11220.2 7127.7 12847.8 3188.0 13921.5 2775.5

2013 42481.6 13802.7 9437.0 3090.5 11789.8 7592.8 13705.1 3184.0 14076.4 2897.5

2014 44074.0 13906.9 9387.3 3309.5 12612.4 8133.6 14441.1 3113.6 14328.3 3207.8

2015 45892.0 14129.8 9492.8 3400.2 13467.5 8742.1 15165.6 3129.1 14302.0 3101.1

2016 47857.5 14549.7 9658.8 3636.4 14137.9 9026.0 16008.3 3161.7 14548.5 3182.7

2017 50020.0 15103.4 9928.8 3830.8 15148.1 9574.0 16606.9 3161.5 14848.3 3730.0

2018 52698.7 15576.1 10204.4 4007.0 16135.1 10269.2 17865.0 3122.5 15090.3 3891.1

2019 55148.2 16157.5 10476.2 4192.2 16829.2 10850.8 19039.9 3121.5 15483.5 4248.6

2020 61948.1 16703.0 10862.4 4184.9 18410.3 11906.3 23621.1 3213.7 16440.6 4508.8

2021 66426.4 18308.3 11923.5 4548.5 19530.3 12641.2 25304.5 3283.3 17724.3 5020.7

2022 70235.4 19383.6 12693.1 4894.0 20768.8 13446.9 26851.4 3231.6 19346.2 4639.1

 Q2 48817.1 14825.8 9794.9 3727.0 14661.9 9321.5 16188.8 3140.6 14730.3 3421.4

 Q3 49373.9 14929.3 9855.9 3770.3 14865.6 9410.0 16441.8 3137.3 14886.5 3518.3

 Q4 50020.0 15103.4 9928.8 3830.8 15148.1 9574.0 16606.9 3161.5 14848.3 3730.0

2018 -- Q1 50726.4 15235.8 9993.8 3877.0 15312.1 9667.9 17037.9 3140.6 14896.9 3806.3

 Q2 51591.4 15344.2 10070.3 3901.1 15761.9 10046.4 17343.9 3141.5 14916.5 3795.5

 Q3 52170.4 15472.2 10147.7 3955.5 15953.8 10163.4 17600.8 3143.8 14986.6 3853.0

 Q4 52698.7 15576.1 10204.4 4007.0 16135.1 10269.2 17865.0 3122.5 15090.3 3891.1

2019 -- Q1 53260.0 15680.8 10259.4 4053.0 16377.7 10483.6 18095.8 3105.7 15157.2 3929.9

 Q2 53754.3 15851.0 10340.1 4092.3 16527.1 10604.4 18284.5 3091.7 15287.9 4114.9

 Q3 54612.1 16003.9 10414.8 4144.1 16749.6 10801.6 18760.7 3098.0 15454.5 4175.4

 Q4 55148.2 16157.5 10476.2 4192.2 16829.2 10850.8 19039.9 3121.5 15483.5 4248.6

2020 -- Q1 56570.2 16294.6 10546.5 4207.2 17666.3 11603.8 19480.6 3128.8 16636.7 4047.1

 Q2 60389.9 16262.9 10609.0 4133.9 18343.5 12076.5 22627.1 3156.4 16170.1 4268.7

 Q3 61082.0 16477.4 10745.3 4161.6 18353.6 11970.3 23050.1 3200.9 16168.2 4338.5

 Q4 61948.1 16703.0 10862.4 4184.9 18410.3 11906.3 23621.1 3213.7 16440.6 4508.8

2021 -- Q1 62718.2 16953.1 11007.6 4226.8 18634.4 12038.3 23890.0 3240.7 16690.5 4654.5

 Q2 64419.9 17639.3 11472.0 4418.4 18954.6 12285.4 24559.3 3266.6 17328.7 4746.0

 Q3 64986.4 17957.2 11691.4 4477.9 19173.7 12441.4 24564.1 3291.4 17542.2 4945.9

 Q4 66426.4 18308.3 11923.5 4548.5 19530.3 12641.2 25304.5 3283.3 17724.3 5020.7

2022 -- Q1 67806.1 18588.1 12092.3 4636.4 20003.1 12992.4 25951.1 3263.9 18294.4 4834.6

 Q2 68873.3 18908.3 12351.1 4724.9 20376.1 13242.6 26311.8 3277.2 18591.8 4671.7

 Q3 69653.3 19205.5 12556.6 4806.8 20587.5 13373.0 26587.1 3273.1 18858.9 4576.9

 Q4 70235.4 19383.6 12693.1 4894.0 20768.8 13446.9 26851.4 3231.6 19346.2 4639.1

2023 -- Q1 70897.9 19499.2 12779.4 4945.9 21007.1 13613.3 27150.2 3241.4 19937.5 4706.3

 Q2 72008.4 19630.3 12870.8 4971.6 21103.9 13682.0 28010.3 3263.9 19629.2 4707.0

 Q3 72950.3 19752.5 12949.8 4984.7 21184.4 13730.1 28752.4 3261.0 19495.9 4610.1

(1) Debt securities and loans. Data are shown on an end-of-period basis.
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8 Z.1, December 7, 2023

B.1 Derivation of U.S. Net Wealth

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL892090005 U.S. net wealth (1) 134614.9 134794.7 138574.2 135190.9 133667.2 134794.7 136470.8 142641.4 141879.8 1

 2 LM152010005 Households’ direct holdings of nonfinancial assets 51231.1 55649.3 55126.3 57602.1 56536.3 55649.3 55657.3 58347.5 58842.1 2

 3 LM155035005 Real estate 43415.4 47123.0 47020.2 49338.5 48093.1 47123.0 47017.5 49595.2 50064.2 3

 4 LM165015205 Equipment (nonprofits) 582.5 627.9 595.3 608.2 617.8 627.9 645.7 650.0 659.2 4

 5 LM165013765 Intellectual property products (nonprofits) 235.1 252.7 239.8 244.7 249.0 252.7 258.7 263.3 268.3 5

 6 LM155111005 Consumer durable goods 6998.1 7645.6 7271.1 7410.7 7576.3 7645.6 7735.3 7839.0 7850.3 6

 7 LM112010005 Nonfin. noncorporate businesses nonfinancial assets 18556.7 19377.2 19027.9 19707.1 19731.5 19377.2 19081.5 19347.4 19409.8 7

 8 LM115035005 Real estate 16895.8 17583.9 17321.1 17962.7 17968.0 17583.9 17278.4 17560.6 17629.0 8

 9 LM115015205 Equipment 1000.4 1071.2 1025.2 1046.3 1057.9 1071.2 1058.2 1022.4 995.8 9

 10 LM115013765 Intellectual property products 375.4 413.1 385.7 396.3 405.2 413.1 429.9 446.0 460.7 10

 11 LM115020005 Inventories 285.1 308.9 296.0 301.9 300.4 308.9 314.9 318.4 324.3 11

 12 LM662090003 Fin. noncorporate businesses nonfinancial assets (2) 106.1 109.8 94.9 93.9 97.5 109.8 117.8 120.1 121.0 12

 13 LM882010405 Domestic corporations’ nonfinancial assets 64740.6 55146.6 63343.7 54425.1 53647.9 55146.6 57462.5 61773.5 60139.4 13

 14 LM102010405 Nonfinancial corporations’ nonfinancial assets (3) 61293.2 50331.1 58981.0 50451.1 49003.5 50331.1 53578.5 57524.4 55393.0 14

 15 LM792010405 Financial corporations’ nonfinancial assets (3) 3447.4 4815.5 4362.7 3974.0 4644.3 4815.5 3884.0 4249.1 4746.4 15

 16 LM315015005 Federal government nonfinancial assets (4) 4098.2 4412.6 4196.3 4300.9 4356.4 4412.6 4476.3 4514.0 4555.6 16

 17 LM315015605 Structures 1949.2 2128.3 2005.3 2067.9 2100.0 2128.3 2153.2 2156.6 2160.2 17

 18 LM315013265 Equipment 901.2 950.6 920.6 939.8 942.6 950.6 957.6 963.7 970.4 18

 19 LM315013765 Intellectual property products 1247.7 1333.8 1270.4 1293.2 1313.8 1333.8 1365.4 1393.7 1425.0 19

 20 LM212010095 State and local governments nonfinancial assets (4) 14063.2 15427.1 14472.5 14945.8 15250.6 15427.1 15662.3 15723.6 15805.0 20

 21 LM215015605 Structures 13605.1 14934.9 14004.1 14467.7 14764.9 14934.9 15163.8 15222.6 15298.6 21

 22 LM215013265 Equipment 283.9 303.7 290.7 296.7 300.2 303.7 306.1 306.1 307.9 22

 23 LM215013765 Intellectual property products 174.2 188.5 177.7 181.4 185.5 188.5 192.3 194.9 198.5 23

 24 FL882090265 Net U.S. financial claims on the rest of the world -18181.0 -15327.8 -17687.6 -15883.9 -15953.0 -15327.8 -15986.9 -17184.7 -16993.1 24

 25 FL264194005 U.S. financial claims on the rest of the world 29813.9 26144.8 28466.0 25447.0 23941.8 26144.8 27591.5 28185.2 27538.1 25

 26 LM263164100 U.S. holdings of foreign corporate equities 12061.3 10306.0 11465.3 9997.7 9192.4 10306.0 10796.8 11031.7 10540.9 26

 27 FL264194035 Other U.S. financial claims 17752.6 15838.8 17000.7 15449.2 14749.4 15838.8 16794.7 17153.6 16997.2 27

 28 FL264090005 Less: Foreign financial claims on U.S. 47994.8 41472.6 46153.5 41330.9 39894.8 41472.6 43578.4 45369.9 44531.2 28

 29 LM263064105 Foreign holdings of U.S. corporate equities 13898.3 10831.5 12993.3 10908.1 10311.3 10831.5 11500.4 12394.3 11926.6 29

 30 FL264090035 Other foreign financial claims 34096.6 30641.1 33160.2 30422.8 29583.5 30641.1 32078.0 32975.7 32604.6 30

 Memo:

 31 FL892090005 A. U.S. net wealth (line 1) 134614.9 134794.7 138574.2 135190.9 133667.2 134794.7 136470.8 142641.4 141879.8 31

 32 FC892090005 Change in U.S. net wealth 20040.1 179.8 3959.2 -3383.2 -1523.7 1127.5 1676.0 6170.6 -761.6 32

 33 PC892090005 Percent change in U.S. net wealth 17.49 0.13 2.94 -2.44 -1.13 0.84 1.24 4.52 -0.53 33

 34 FL152090005 B. Household net worth (5) 150439.3 143655.3 152145.3 146312.4 142823.8 143655.3 146639.6 152300.4 150988.7 34

 35 FC152090005 Change in household net worth 18968.6 -6784.0 1706.0 -5832.9 -3488.6 831.5 2984.3 5660.8 -1311.7 35

 36 PC152090005 Percent change in household net worth 14.43 -4.51 1.13 -3.83 -2.38 0.58 2.08 3.86 -0.86 36

(1) U.S. net wealth measures the value of tangible assets controlled by the household and nonprofit organizations, nonfinancial and financial business, and government sectors of the U.S. economy,

 net of U.S. financial obligations to the rest of the world (sum of lines 2+7+12+13+16+20+24).

(2) Assumed to be equal to proprietors’ equity in noncorporate brokers and dealers.

(3) Estimated as the market value of corporate equity, plus foreign direct investment: equity, plus miscellaneous other equity (excluding proprietors’ equity), plus total liabilities, less total financial assets.

(4) Excludes land and nonproduced nonfinancial assets.

(5) Household net worth is calculated as the difference between total assets and liabilities of the household and nonprofit organizations sector. See table B.101.
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Z.1, December 7, 2023 9

F.2 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA086902005 Gross domestic product (GDP) 23594.0 25744.1 25029.1 25544.3 25994.6 26408.4 26813.6 27063.0 27644.5 1

 2 FA156901001 Personal consumption expenditures (2) 16043.0 17511.7 17030.6 17415.1 17684.2 17917.0 18269.6 18419.0 18711.6 2

 3 FA155011001 Durable goods 2006.4 2128.9 2120.7 2122.9 2143.1 2129.0 2194.9 2193.6 2205.1 3

 4 FA156901035 Nondurable goods 3500.2 3868.1 3758.5 3891.5 3903.7 3918.6 3939.0 3951.1 4023.6 4

 5 FA156901041 Services 10536.3 11514.7 11151.4 11400.7 11637.4 11869.4 12135.7 12274.4 12482.8 5

 6 FA835019905 Gross private domestic investment 4216.3 4756.6 4766.8 4739.0 4724.6 4796.2 4725.8 4780.3 4922.1 6

 7 FA835019005 Fixed investment (3) 4204.6 4599.3 4517.8 4618.9 4642.3 4618.4 4702.1 4761.7 4811.4 7

 8 FA835013001 Nonresidential 3078.4 3433.0 3299.8 3403.0 3493.1 3536.0 3641.3 3709.1 3729.3 8

 9 FA165013005 Nonprofit organizations (4) 254.7 275.0 286.4 266.9 273.2 273.5 283.4 288.7 290.5 9

 10 FA105013005 Nonfinancial corporate business 2208.6 2477.0 2384.7 2457.3 2518.4 2547.5 2619.0 2666.8 2680.7 10

 11 FA115013005 Nonfinancial noncorporate business 307.9 343.8 305.2 345.8 358.8 365.5 380.1 383.6 388.3 11

 12 FA795013005 Financial institutions 307.1 337.2 323.5 333.0 342.7 349.4 358.8 370.1 369.8 12

 13 FA835012001 Residential 1126.2 1166.4 1218.0 1215.8 1149.1 1082.5 1060.8 1052.6 1082.1 13

 14 FA155012005 Household sector 937.7 970.8 1015.4 1012.8 955.1 899.9 888.8 882.1 899.9 14

 15 FA105012005 Nonfinancial corporate business 6.5 6.2 5.8 6.4 6.4 6.3 -2.5 -2.6 6.3 15

 16 FA115012005 Nonfinancial noncorporate business 182.1 189.3 196.8 196.6 187.7 176.3 174.5 173.0 175.9 16

 17 FA145020005 Change in private inventories 11.7 157.3 249.0 120.2 82.3 177.7 23.7 18.6 110.7 17

 18 FA105020005 Nonfinancial corporate business 10.7 143.6 220.4 113.0 81.9 158.9 24.4 14.5 90.3 18

 19 FA115020005 Nonfinancial noncorporate business 1.0 13.7 28.6 7.1 0.4 18.8 -0.7 4.1 20.4 19

 20 FA266903005 Net U.S. exports of goods and services -858.2 -971.1 -1089.7 -1025.6 -892.0 -877.2 -825.7 -806.1 -781.6 20

 21 FA266903011 Exports 2550.0 2995.0 2837.6 3044.3 3084.5 3013.8 3064.8 2961.8 3037.7 21

 22 FA266903001 - Imports 3408.3 3966.2 3927.3 4069.8 3976.5 3891.0 3890.5 3767.9 3819.3 22

 Government consumption expenditures and

 23 FA366902005 gross investment 4193.1 4446.8 4321.4 4415.7 4477.9 4572.4 4643.9 4669.8 4792.5 23

 24 FA366901005 Consumption expenditures (5) 3366.3 3570.1 3473.2 3557.1 3595.5 3654.4 3702.1 3695.5 3790.5 24

 25 FA316901001 Federal 1216.4 1229.0 1206.3 1209.4 1232.4 1267.9 1303.0 1307.2 1346.1 25

 26 FA216901001 State and local 2149.9 2341.1 2266.9 2347.7 2363.2 2386.5 2399.1 2388.3 2444.4 26

 27 FA365019005 Gross investment (5) 826.8 876.8 848.2 858.5 882.3 918.0 941.8 974.4 1001.9 27

 28 FA315019001 Federal 378.0 406.5 395.4 402.8 404.0 423.9 427.7 437.2 445.5 28

 29 FA215019001 State and local 448.8 470.2 452.8 455.7 478.4 494.1 514.2 537.2 556.5 29

 Memo:

 30 FA266904005 Net U.S. income receipts from rest of world 183.5 181.9 148.6 202.0 191.3 185.6 158.9 173.1 168.0 30

 31 FA266904001 U.S. income receipts 1112.1 1252.6 1154.8 1229.4 1285.5 1340.7 1390.7 1452.7 1493.8 31

 32 FA266904101 - U.S. income payments 928.6 1070.7 1006.2 1027.4 1094.3 1155.2 1231.8 1279.7 1325.8 32

 Gross national product (GNP) =

 33 FA086902105 GDP + net U.S. income receipts 23777.6 25926.0 25177.8 25746.3 26185.9 26594.0 26972.5 27236.1 27812.4 33

 Acquisition of nonproduced nonfinancial assets (net)

 34 FA155420003 Household sector -14.9 -15.5 -15.3 -15.5 -15.6 -15.8 -15.8 -15.9 -16.1 34

 35 FA105420005 Nonfinancial corporate business 5.8 104.8 321.1 14.0 87.2 -3.1 -3.7 -3.8 -0.2 35

 36 FA315420003 Federal government -9.0 -108.1 -324.2 -17.2 -90.6 -0.4 0.2 0.3 -3.5 36

 37 FA215420003 State and local governments 18.3 19.1 18.8 19.0 19.2 19.3 19.5 19.7 19.8 37

 38 FA265420005 Rest of the world -0.2 -0.2 -0.3 -0.2 -0.1 -0.1 -0.2 -0.2 0.0 38

(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.101, line 4.

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

(4) Included in the households and nonprofit organizations sector (table F.101).

(5) Government inventory investment is included in consumption expenditures.
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F.3 Distribution of National Income (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA086010005 National income 19909.7 21678.4 21149.8 21637.6 21972.7 21953.5 22136.9 22241.8 22512.1 1

 2 FA156025105 Compensation of employees 12545.9 13439.2 13177.4 13295.2 13609.2 13675.0 13965.2 14154.1 14348.9 2

 3 FA156020101 Wages and salaries 10312.6 11116.0 10886.7 10988.9 11271.4 11317.0 11565.4 11733.3 11899.0 3

 4 FA156401101 Supplements to wages and salaries 2233.2 2323.2 2290.7 2306.2 2337.8 2357.9 2399.8 2420.9 2449.9 4

 5 FA146111105 Proprietors’ income with IVA and CCAdj 1749.1 1790.9 1756.4 1774.4 1807.4 1825.3 1827.4 1824.1 1863.0 5

 6 FA116112101 Rental income of persons with CCAdj 814.2 878.3 837.2 875.3 893.1 907.5 945.8 961.1 973.9 6

 7 FA096060035 Corporate profits with IVA and CCAdj 2922.8 3208.7 3027.1 3260.0 3299.3 3248.4 3165.1 3172.1 3277.7 7

 8 FA096060025 Corporate profits with IVA 2992.1 3426.7 3198.2 3468.5 3541.4 3498.8 3502.8 3513.6 3617.4 8

 9 FA096060005 Profits before tax 3249.1 3523.0 3439.0 3696.2 3558.2 3398.4 3457.6 3473.1 3597.9 9

 10 FA106060005 Domestic nonfinancial 2234.0 2451.5 2400.4 2615.0 2457.1 2333.7 2373.9 2422.1 2517.2 10

 11 FA796060005 Domestic financial 581.5 598.6 615.9 602.7 610.8 564.8 591.7 537.0 555.9 11

 12 FA266060005 Rest of the world 433.6 472.8 422.7 478.5 490.3 499.9 492.0 514.1 524.8 12

 Less:

 13 FA096231001 Taxes on corporate income 404.6 542.4 529.1 547.4 544.7 548.3 576.5 570.3 568.8 13

 14 FA106231005 Domestic nonfinancial 298.0 416.9 424.5 422.0 403.4 417.8 437.4 430.4 429.8 14

 15 FA796231003 Domestic financial 106.6 125.5 104.7 125.5 141.4 130.5 139.1 139.9 138.9 15

 Equals:

 16 FA096060015 Profits after tax 2844.5 2980.5 2909.9 3148.7 3013.5 2850.1 2881.0 2902.9 3029.1 16

 17 FA096121073 Net dividends 1814.7 1887.3 1932.9 1920.7 1855.6 1839.8 1840.2 1855.8 1838.3 17

 18 FA106121075 Domestic nonfinancial 1109.6 1233.3 1289.1 1241.3 1184.3 1218.4 1076.0 1097.4 1060.2 18

 19 FA796121073 Domestic financial 370.3 319.3 291.7 302.2 321.9 361.3 335.6 351.6 346.3 19

 20 FA266121073 Rest of the world 334.9 334.7 352.1 377.1 349.4 260.1 428.6 406.8 431.9 20

 21 FA096006401 Undistributed profits 1029.8 1093.3 977.0 1228.1 1157.9 1010.2 1040.8 1047.1 1190.7 21

 22 FA106006405 Domestic nonfinancial 826.5 801.4 686.9 951.7 869.4 697.4 860.4 894.3 1027.2 22

 23 FA796006403 Domestic financial 104.6 153.8 219.5 175.0 147.6 73.0 117.0 45.5 70.7 23

 24 FA266006403 Rest of the world 98.8 138.2 70.6 101.3 140.9 239.8 63.4 107.3 92.9 24

 25 FA105020601 Inventory valuation adjustment (IVA) -257.1 -96.2 -240.9 -227.7 -16.8 100.4 45.3 40.5 19.6 25

 26 FA096310003 Capital consumption adjustment (CCAdj) -69.3 -218.0 -171.1 -208.5 -242.1 -250.4 -337.7 -341.5 -339.7 26

 27 FA106310005 Domestic nonfinancial -7.0 -137.7 -97.2 -129.5 -158.2 -166.0 -243.8 -248.1 -246.1 27

 28 FA796310003 Domestic financial -62.3 -80.3 -73.9 -79.0 -83.9 -84.4 -94.0 -93.4 -93.6 28

 29 FA086130003 Net interest and miscellaneous payments 504.6 457.4 515.7 514.6 438.3 360.7 307.8 212.4 114.0 29

 30 FA366240005 Taxes on production and imports 1671.9 1810.2 1784.0 1812.3 1824.0 1820.6 1831.1 1821.6 1833.7 30

 31 FA366402005 Less: Subsidies 482.7 127.4 152.0 130.1 118.4 109.2 101.4 99.9 103.7 31

 32 FA146403005 Business current transfer payments (net) 189.0 216.8 196.1 228.2 215.4 227.6 203.1 206.4 215.7 32

 33 FA156403101 To persons (net) 87.7 99.1 96.9 101.9 98.9 98.8 100.9 102.8 105.9 33

 34 FA366403145 To government (net) 102.4 115.2 104.9 128.9 110.6 116.3 108.7 108.4 114.9 34

 35 FA266403101 To rest of the world (net) -1.1 2.5 -5.7 -2.7 5.9 12.5 -6.6 -4.9 -5.1 35

 36 FA366402105 Current surplus of government enterprises -5.0 4.4 8.0 7.6 4.5 -2.3 -7.1 -10.0 -11.2 36

 Memo:

 Calculation of gross domestic product

 from National income:

 37 FA086010005 National Income, from line 1 above 19909.7 21678.4 21149.8 21637.6 21972.7 21953.5 22136.9 22241.8 22512.1 37

 Plus:

 38 FA836300005 Private consumption of fixed capital 3214.3 3577.6 3442.9 3542.8 3636.4 3688.2 3753.3 3797.3 3845.4 38

 39 FA366300005 Government consumption of fixed capital 659.0 722.3 698.0 717.4 731.8 742.1 754.1 759.7 766.9 39

 40 FA087005005 Statistical discrepancy -5.5 -52.3 -112.9 -151.5 -155.0 210.2 328.2 437.3 688.0 40

 Less:

 41 FA266904005 Net U.S. income receipts from rest of world 183.5 181.9 148.6 202.0 191.3 185.6 158.9 173.1 168.0 41

 Equals:

 42 FA086902005 Gross domestic product (2) 23594.0 25744.1 25029.1 25544.3 25994.6 26408.4 26813.6 27063.0 27644.5 42

(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 (line 37) to Gross domestic product (line 42) is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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F.4 Saving and Investment by Sector (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA886000115 Gross saving 4200.7 4699.9 4612.7 4738.0 4827.4 4621.4 4466.9 4480.2 4415.7 1

 2 FA896006005 Net saving 327.4 400.0 471.8 477.8 459.2 191.1 -40.5 -76.9 -196.6 2

 3 FA836006005 Net private saving 2823.9 1401.8 1268.8 1344.3 1511.6 1482.7 1696.6 1773.6 1685.9 3

 4 FA826006005 Domestic business 703.4 779.0 565.1 791.9 899.0 860.2 748.4 746.0 870.6 4

 5 FA106012005 Nonfinancial corporate business 638.6 674.2 582.8 689.0 724.4 700.5 624.5 632.8 652.7 5

 6 FA796012005 Financial business 64.8 104.9 -17.7 102.9 174.5 159.7 123.8 113.2 217.9 6

 7 FA156006005 Households and institutions 2120.5 622.8 703.8 552.4 612.6 622.4 948.2 1027.6 815.4 7

 8 FA366006005 Net government saving -2496.6 -1001.9 -797.0 -866.5 -1052.3 -1291.6 -1737.1 -1850.4 -1882.5 8

 9 FA316006005 Federal -2739.9 -1062.2 -974.4 -960.5 -1072.7 -1241.2 -1673.7 -1665.7 -1688.3 9

 10 FA216006005 State and local 243.4 60.4 177.4 93.9 20.4 -50.4 -63.4 -184.7 -194.2 10

 11 FA886300095 Consumption of fixed capital 3873.3 4299.9 4140.9 4260.2 4368.2 4430.3 4507.4 4557.0 4612.3 11

 12 FA836300005 Private 3214.3 3577.6 3442.9 3542.8 3636.4 3688.2 3753.3 3797.3 3845.4 12

 13 FA826300003 Domestic business 2492.4 2756.6 2652.7 2727.7 2800.7 2845.1 2910.2 2949.0 2983.0 13

 14 FA106300003 Nonfinancial corporate business 1818.3 2004.7 1929.2 1983.1 2036.0 2070.3 2121.6 2153.1 2177.8 14

 15 FA116300001 Nonfinancial noncorporate business 398.4 445.2 429.3 441.9 452.0 457.8 463.0 467.0 472.4 15

 16 FA796330081 Financial business 275.7 306.6 294.1 302.6 312.7 317.1 325.6 328.9 332.8 16

 17 FA156300003 Households and institutions 722.0 821.0 790.2 815.1 835.7 843.1 843.1 848.3 862.4 17

 18 FA366300005 Government 659.0 722.3 698.0 717.4 731.8 742.1 754.1 759.7 766.9 18

 19 FA316300001 Federal 326.0 350.8 341.1 348.7 354.4 359.0 364.3 368.0 372.5 19

 20 FA216300001 State and local 333.0 371.5 356.8 368.7 377.4 383.1 389.7 391.7 394.4 20

 Gross domestic investment, capital account

 21 FA885090015 transactions, and net lending, NIPAs 4195.2 4647.6 4499.8 4586.5 4672.4 4831.6 4795.1 4917.4 5103.7 21

 22 FA885019905 Gross domestic investment 5043.0 5633.4 5615.0 5597.6 5607.0 5714.1 5667.6 5754.6 5924.0 22

 23 FA835019905 Gross private domestic investment 4216.3 4756.6 4766.8 4739.0 4724.6 4796.2 4725.8 4780.3 4922.1 23

 24 FA825019905 Domestic business 3023.8 3510.9 3465.0 3459.3 3496.4 3622.7 3553.7 3609.5 3731.8 24

 25 FA105019985 Nonfinancial corporate business 2225.8 2626.8 2586.1 2581.1 2615.6 2724.4 2657.6 2688.3 2789.3 25

 26 FA115050085 Nonfinancial noncorporate business 491.0 546.9 555.4 545.2 538.0 548.9 537.2 551.0 572.6 26

 27 FA795013005 Financial business 307.1 337.2 323.5 333.0 342.7 349.4 358.8 370.1 369.8 27

 28 FA155019005 Households and institutions 1192.4 1245.8 1301.8 1279.7 1228.3 1173.4 1172.2 1170.8 1190.3 28

 29 FA365019005 Gross government investment 826.8 876.8 848.2 858.5 882.3 918.0 941.8 974.4 1001.9 29

 30 FA315019001 Federal 378.0 406.5 395.4 402.8 404.0 423.9 427.7 437.2 445.5 30

 31 FA215019001 State and local 448.8 470.2 452.8 455.7 478.4 494.1 514.2 537.2 556.5 31

 32 FA265430003 Capital account transactions (net) (2) 3.7 5.3 8.6 14.1 -16.2 14.6 24.1 11.5 8.9 32

 33 FA835430005 Private -43.9 140.3 336.8 134.3 30.8 59.2 8.1 -15.1 -439.9 33

 34 FA825430005 Domestic business 13.5 153.2 320.7 117.7 120.9 53.4 -4.2 -4.4 -0.7 34

 35 FA105430005 Nonfinancial corporate business -4.0 135.0 320.7 117.7 52.0 49.8 -4.2 -4.4 -0.7 35

 36 FA115440005 Nonfinancial noncorporate business -5.2 -10.1 0.0 0.0 -36.0 -4.4 0.0 0.0 0.0 36

 37 FA795440005 Financial business 22.7 28.2 0.0 0.0 104.9 8.0 0.0 0.0 0.0 37

 38 FA155430005 Households and institutions -57.3 -12.9 16.1 16.6 -90.1 5.8 12.3 -10.7 -439.1 38

 39 FA365430005 Government 47.5 -135.0 -328.2 -120.2 -47.0 -44.6 16.0 26.6 448.8 39

 40 FA315430005 Federal 112.2 75.7 -264.5 400.2 87.9 79.2 85.5 102.6 528.7 40

 41 FA215430005 State and local -64.7 -210.7 -63.7 -520.4 -134.9 -123.9 -69.5 -76.0 -79.9 41

 42 FA885000905 Net lending (+) or net borrowing (-), NIPAs (3) -851.5 -991.1 -1123.8 -1025.2 -918.4 -897.1 -896.7 -848.7 -829.2 42

 43 FA835000905 Private 1860.4 30.2 -504.7 -137.8 237.5 525.8 1044.1 1243.0 1737.2 43

 44 FA825000905 Domestic business 153.0 -180.7 -680.8 -209.0 -72.6 239.5 437.3 527.2 810.6 44

 45 FA105000995 Nonfinancial corporate business (3) 229.6 -135.3 -507.7 -178.1 -62.2 206.8 420.9 539.2 729.9 45

 46 FA115000905 Nonfinancial noncorporate business -87.4 -91.5 -126.0 -103.4 -50.0 -86.7 -74.2 -84.0 -100.2 46

 47 FA795000905 Financial business 10.7 46.1 -47.1 72.5 39.6 119.3 90.7 72.0 180.8 47

 48 FA155000905 Households and institutions 1707.4 210.9 176.1 71.2 310.1 286.3 606.9 715.7 926.6 48

 49 FA365000905 Government -2711.9 -1021.3 -619.0 -887.4 -1155.9 -1422.8 -1940.8 -2091.7 -2566.4 49

 50 FA315000905 Federal -2904.0 -1193.6 -764.2 -1414.8 -1210.2 -1385.3 -1822.5 -1837.4 -2290.0 50

 51 FA215000905 State and local 192.2 172.3 145.1 527.4 54.4 -37.5 -118.3 -254.3 -276.4 51

 52 FA087005005 Statistical discrepancy (line 21 less line 1) -5.5 -52.3 -112.9 -151.5 -155.0 210.2 328.2 437.3 688.0 52

 Addenda:

 53 FA895404005 Disaster losses 62.0 60.0 0.0 0.0 240.0 0.0 0.0 0.0 0.0 53

 54 FA835404005 Private 58.0 57.0 0.0 0.0 228.0 0.0 0.0 0.0 0.0 54

 55 FA825404003 Domestic business 38.3 27.8 0.0 0.0 111.3 0.0 0.0 0.0 0.0 55

 56 FA155404003 Households and institutions 19.7 29.2 0.0 0.0 116.7 0.0 0.0 0.0 0.0 56

 57 FA365404005 Government 4.0 3.0 0.0 0.0 12.0 0.0 0.0 0.0 0.0 57

 58 FA315404003 Federal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

 59 FA215404003 State and local 4.0 3.0 0.0 0.0 12.0 0.0 0.0 0.0 0.0 59

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

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

(2) Consists of net capital transfers shown on table F.5 and the acquisition of nonproduced nonfinancial assets (net) shown on table F.2.

(3) Differs from net lending or net borrowing (capital account) in the Integrated Macroeconomic Accounts of the United States by the statistical discrepancy (line 52).
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F.5 Net Capital Transfers (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA895410005 Capital transfers paid, by sector 210.5 336.8 132.1 594.9 406.4 213.9 154.3 173.2 599.8 1

 2 FA825410005 By private business 23.7 68.7 0.0 104.0 108.8 62.1 0.0 0.0 0.0 2

 3 FA795410005 Financial corporations 23.7 29.2 0.0 0.0 108.8 8.0 0.0 0.0 0.0 3

 4 FA515410073 Disaster-related insurance benefits 23.7 25.5 0.0 0.0 102.0 0.0 0.0 0.0 0.0 4

 5 FA795410003 Other 0.0 3.7 0.0 0.0 6.8 8.0 0.0 0.0 0.0 5

 6 FA105410003 Nonfinancial corporations 0.0 39.5 0.0 104.0 0.0 54.1 0.0 0.0 0.0 6

 7 FA115410003 Noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA365410005 By government 148.6 219.2 92.2 450.3 222.5 111.6 115.5 133.3 561.4 8

 9 FA315410005 Federal 148.6 216.7 92.2 450.3 212.5 111.6 115.5 133.3 561.4 9

 10 FA215400033 Investment grants to state and local govts. 72.7 182.4 75.0 428.2 145.3 81.4 80.5 86.8 90.5 10

 11 FA315410073 Disaster-related insurance benefits 4.0 10.0 0.0 0.0 40.0 0.0 0.0 0.0 0.0 11

 12 FA315410093 Financial stabilization payments (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA315410043 Other capital transfers paid to business 0.5 1.7 0.4 0.3 0.3 5.6 0.5 0.6 0.5 13

 14 FA315410053 Other capital transfers paid to persons 64.1 9.4 8.5 8.5 10.0 10.6 10.6 34.6 461.5 14

 15 FA315410063 Capital transfers paid to rest of world (net) 7.3 13.2 8.4 13.4 17.0 14.0 23.9 11.3 8.9 15

 16 FA215410073 State and local 0.0 2.5 0.0 0.0 10.0 0.0 0.0 0.0 0.0 16

 17 FA215410073 Disaster-related insurance benefits 0.0 2.5 0.0 0.0 10.0 0.0 0.0 0.0 0.0 17

 18 FA155410035 By persons 34.4 40.6 39.9 40.6 41.9 40.2 38.7 39.9 38.4 18

 19 FA315400053 Estate and gift taxes, federal 27.3 32.8 32.4 32.9 34.0 32.0 30.2 31.0 29.1 19

 20 FA215400053 Estate and gift taxes, state and local 7.1 7.8 7.5 7.7 7.9 8.2 8.5 8.9 9.3 20

 21 FA265410005 By the rest of the world 3.8 8.3 0.0 0.0 33.3 0.0 0.0 0.0 0.0 21

 22 FA265410073 Disaster-related insurance benefits 3.8 8.3 0.0 0.0 33.3 0.0 0.0 0.0 0.0 22

 23 FA265410003 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA895400005 Capital transfers received, by sector 210.5 336.8 132.1 594.9 406.4 213.9 154.3 173.2 599.8 24

 25 FA825400005 By private business 16.0 20.3 0.4 0.3 75.1 5.6 0.5 0.6 0.5 25

 26 FA795400005 Financial corporations 1.0 1.0 0.0 0.0 3.9 0.0 0.0 0.0 0.0 26

 27 FA515400073 Disaster-related insurance benefits 1.0 1.0 0.0 0.0 3.9 0.0 0.0 0.0 0.0 27

 28 FA795400003 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FA105400005 Nonfinancial corporations 9.8 9.3 0.4 0.3 35.2 1.2 0.5 0.6 0.5 29

 30 FA105400073 Disaster-related insurance benefits 9.4 8.7 0.0 0.0 34.9 0.0 0.0 0.0 0.0 30

 31 FA105400003 Other 0.5 0.5 0.4 0.3 0.3 1.2 0.5 0.6 0.5 31

 32 FA115400005 Noncorporate business 5.2 10.1 0.0 0.0 36.0 4.4 0.0 0.0 0.0 32

 33 FA115400075 Disaster-related insurance benefits 5.2 9.0 0.0 0.0 36.0 0.0 0.0 0.0 0.0 33

 34 FA115400003 Other 0.0 1.1 0.0 0.0 0.0 4.4 0.0 0.0 0.0 34

 35 FA365400005 By government 110.3 265.1 114.9 572.3 198.1 175.2 119.3 126.7 128.9 35

 36 FA315400005 Federal 27.3 32.8 32.4 32.9 34.0 32.0 30.2 31.0 29.1 36

 37 FA315400053 Estate and gift taxes paid by persons 27.3 32.8 32.4 32.9 34.0 32.0 30.2 31.0 29.1 37

 38 FA315400003 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 FA215400005 State and local 82.9 232.3 82.4 539.4 164.1 143.2 89.0 95.7 99.8 39

 40 FA215400073 Disaster-related insurance benefits 3.2 2.7 0.0 0.0 10.9 0.0 0.0 0.0 0.0 40

 41 FA215400053 Estate and gift taxes paid by persons 7.1 7.8 7.5 7.7 7.9 8.2 8.5 8.9 9.3 41

 42 FA215400033 Investment grants paid by federal government 72.7 182.4 75.0 428.2 145.3 81.4 80.5 86.8 90.5 42

 43 FA215400003 Other 0.0 39.3 0.0 103.5 0.0 53.6 0.0 0.0 0.0 43

 44 FA155400005 By persons 76.8 38.0 8.5 8.5 116.4 18.6 10.6 34.6 461.5 44

 45 FA155400073 Disaster-related insurance benefits 12.7 24.9 0.0 0.0 99.6 0.0 0.0 0.0 0.0 45

 46 FA155400003 Other 64.1 13.1 8.5 8.5 16.8 18.6 10.6 34.6 461.5 46

 47 FA265400005 By the rest of the world 7.3 13.4 8.4 13.8 17.0 14.5 23.9 11.3 8.9 47

 48 FA265400033 Capital transfers paid by U.S. government 7.3 13.2 8.4 13.4 17.0 14.0 23.9 11.3 8.9 48

 49 FA265400073 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 FA265400003 Other 0.0 0.2 0.0 0.5 0.0 0.4 0.0 0.0 0.0 50

 Addenda: Net capital transfers paid by sector

 51 FA825440005 By private business (lines 2-25) 7.7 48.4 -0.4 103.7 33.7 56.5 -0.5 -0.6 -0.5 51

 52 FA795440005 Financial corporations (lines 3-26) 22.7 28.2 0.0 0.0 104.9 8.0 0.0 0.0 0.0 52

 53 FA515440005 Property-casualty insurance companies 22.7 24.5 0.0 0.0 98.1 0.0 0.0 0.0 0.0 53

 54 FA545410003 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 FA765440005 U.S.-chartered depository institutions 0.0 3.7 0.0 0.0 6.8 8.0 0.0 0.0 0.0 55

 56 FA405400033 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

 57 FA615410003 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

 58 FA735410003 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

 59 FA735400033 Holding companies (GMAC) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59

 60 FA505400033 Other financial business (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 60

 61 FA105440005 Nonfinancial corporations (lines 6-29) -9.8 30.3 -0.4 103.7 -35.2 52.9 -0.5 -0.6 -0.5 61

 62 FA115440005 Noncorporate business (lines 7-32) -5.2 -10.1 0.0 0.0 -36.0 -4.4 0.0 0.0 0.0 62

 63 FA365440005 By government (lines 8-35) 38.3 -45.9 -22.7 -122.0 24.4 -63.6 -3.8 6.6 432.5 63

 64 FA315440005 Federal (lines 9-36) 121.2 183.8 59.7 417.4 178.5 79.6 85.3 102.3 532.2 64

 65 FA215440005 State and local (lines 16-39) -82.9 -229.8 -82.4 -539.4 -154.1 -143.2 -89.0 -95.7 -99.8 65

 66 FA155440005 By persons (lines 18-44) -42.4 2.7 31.4 32.1 -74.5 21.5 28.1 5.3 -423.0 66

 67 FA265440005 By the rest of the world (lines 21-47) -3.5 -5.1 -8.4 -13.8 16.3 -14.5 -23.9 -11.3 -8.9 67

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

(2) Series treated as capital losses in the financial corporations sectors rather than as capital transfers in the Financial Accounts of the United States.
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F.6 Derivation of Measures of Personal Saving (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA174090005 Net acquisition of financial assets 3684.9 2324.3 3183.5 1829.2 1864.8 2419.8 2432.7 2295.4 1255.0 1

 2 FA153091003 Foreign deposits -0.2 3.4 8.3 4.6 6.2 -5.5 -2.5 -4.7 -2.9 2

 3 FA173020005 Checkable deposits and currency 1049.3 432.7 819.7 1684.0 616.3 -1389.1 -146.9 40.0 -680.6 3

 4 FA173030005 Time and savings deposits 875.0 -721.9 259.9 -1293.5 -1472.4 -381.5 -1669.0 -11.5 192.4 4

 5 FA173034005 Money market fund shares 114.2 282.3 97.0 309.8 227.5 495.0 1432.1 691.8 481.1 5

 6 FA174022005 Debt securities -993.2 1560.0 342.5 1595.9 1460.9 2840.8 2072.7 868.5 432.4 6

 7 FA173061105 Treasury securities -652.2 1150.5 629.7 655.5 1508.6 1808.3 1191.1 1304.8 666.7 7

 8 FA153061705 Agency- and GSE-backed securities -21.2 670.8 310.2 702.0 928.2 743.0 532.9 -320.2 211.3 8

 9 FA173062005 Municipal securities -112.4 31.3 -115.4 140.7 8.2 91.8 126.7 130.2 46.8 9

 10 FA153063005 Corporate and foreign bonds -207.4 -292.6 -481.9 97.8 -984.1 197.7 222.0 -246.3 -492.3 10

 11 FA174023005 Loans 91.3 -77.7 413.9 -198.0 -266.9 -260.0 -116.6 -1.9 -265.9 11

 12 FA153064105 Corporate equities (2) 1139.8 677.6 1087.0 52.6 727.0 844.1 21.5 -282.2 770.8 12

 13 FA153064205 Mutual fund shares 542.9 -728.2 -611.9 -1253.8 -467.2 -579.8 -120.0 110.5 -206.7 13

 14 FA163070005 Trade receivables 6.8 6.9 6.9 6.9 6.9 6.9 7.0 7.0 7.0 14

 15 FA153040005 Life insurance reserves 30.9 59.4 62.7 70.0 67.5 37.3 66.6 74.5 11.2 15

 16 FA153050005 Pension entitlements 230.4 517.1 550.3 510.3 559.0 448.9 604.4 575.1 361.0 16

 17 FA173099005 Miscellaneous and other assets 597.6 312.6 147.1 340.5 400.0 362.5 283.4 228.2 155.2 17

 18 FA175050005 Gross investment in nonfinancial assets 3513.3 3735.1 3767.3 3766.2 3730.5 3676.3 3728.8 3732.9 3786.9 18

 19 FA175012005 Residential fixed investment 1119.7 1160.1 1212.2 1209.4 1142.8 1076.2 1063.3 1055.2 1075.8 19

 20 FA175013005 Nonresidential fixed investment 562.7 618.8 591.5 612.7 632.0 639.0 663.5 672.2 678.8 20

 21 FA155111003 Consumer durables 1844.8 1957.9 1950.4 1952.4 1971.0 1958.0 2018.6 2017.4 2028.0 21

 22 FA155420003 Nonproduced nonfinancial assets -14.9 -15.5 -15.3 -15.5 -15.6 -15.8 -15.8 -15.9 -16.1 22

 23 FA115020005 Inventories 1.0 13.7 28.6 7.1 0.4 18.8 -0.7 4.1 20.4 23

 24 FA176300005 Consumption of fixed capital 2486.2 2825.6 2713.4 2807.7 2867.0 2914.4 2924.7 2952.9 2994.4 24

 25 FA176320005 Residential fixed investment 646.4 742.5 714.6 735.3 754.7 765.5 779.0 788.1 798.1 25

 26 FA176330005 Nonresidential fixed investment 474.0 523.7 505.0 521.7 532.9 535.4 527.1 527.2 536.7 26

 27 FA156300103 Consumer durables 1365.8 1559.4 1493.8 1550.7 1579.4 1613.5 1618.6 1637.6 1659.5 27

 28 FA172010005 Net investment in nonfinancial assets (3) 1027.1 909.5 1054.0 958.4 863.5 761.9 804.1 780.0 792.5 28

 29 FA175012865 Residential fixed investment 473.4 417.6 497.6 474.1 388.0 310.7 284.3 267.0 277.6 29

 30 FA175013865 Nonresidential fixed investment 88.7 95.1 86.6 90.9 99.1 103.7 136.4 145.0 142.1 30

 31 FA155111005 Consumer durables 479.0 398.6 456.6 401.7 391.6 344.5 400.0 379.8 368.5 31

 32 FA155420003 Nonproduced nonfinancial assets -14.9 -15.5 -15.3 -15.5 -15.6 -15.8 -15.8 -15.9 -16.1 32

 33 FA115020005 Inventories 1.0 13.7 28.6 7.1 0.4 18.8 -0.7 4.1 20.4 33

 34 FA174190005 Net increase in liabilities 2190.9 1713.0 2129.4 1909.4 1602.1 1211.3 889.2 816.8 709.1 34

 35 FA173165105 One-to-four-family residential mortgages 890.1 895.7 1092.0 1108.9 882.0 500.1 371.5 392.5 344.5 35

 36 FA173165205 Other mortgages 287.5 274.2 277.7 322.7 229.2 267.2 238.7 193.3 178.3 36

 37 FA153166000 Consumer credit 237.8 345.5 351.5 354.1 327.4 349.0 207.6 102.7 52.4 37

 38 FA173169005 Other loans and advances 168.9 -85.4 83.8 -165.8 -3.3 -256.1 -32.0 5.5 129.0 38

 39 FA173199005 Other liabilities 606.6 283.0 324.4 289.6 166.9 351.1 103.3 122.7 4.8 39

 40 FA175440005 Net capital transfers paid (4) -47.6 -7.5 31.4 32.1 -110.5 17.1 28.1 5.3 -423.0 40

 41 FA176007025 Personal saving, FOF concept (FOF) 2473.5 1513.3 2139.6 910.4 1015.7 1987.5 2375.8 2263.9 915.4 41

 42 FA155111005 - Net investment in consumer durables 479.0 398.6 456.6 401.7 391.6 344.5 400.0 379.8 368.5 42

 43 FA313154015 - Government insurance and pension fund reserves (5) -1.2 -2.7 -2.5 -3.9 -3.0 -1.5 -0.9 -0.8 -2.0 43

 44 FA156600075 + Contr. for govt. soc. insur., U.S.-affiliated areas 5.3 5.8 5.6 5.7 5.8 5.9 6.0 6.1 6.2 44

 45 FA176007005 = Personal saving, NIPA concept (FOF) (6) 2001.0 1123.2 1691.1 518.3 632.9 1650.4 1982.8 1891.0 555.2 45

 46 FA156007015 Personal saving, NIPA concept (NIPA) 2120.5 622.8 703.8 552.4 612.6 622.4 948.2 1027.6 815.4 46

 47 FA176007085 Difference -119.5 500.4 987.4 -34.1 20.3 1028.0 1034.6 863.5 -260.2 47

 Memo:

 48 FA156012005 Disposable personal income 18664.4 18702.5 18247.8 18501.9 18881.7 19178.4 19880.2 20164.2 20308.2 48

 Personal saving as a percentage of disposable personal income:

 49 FA176007026 FOF concept (FOF data) (line 41) 13.25 8.09 11.73 4.92 5.38 10.36 11.95 11.23 4.51 49

 50 FA176007006 NIPA concept (FOF data) (line 45) 10.72 6.01 9.27 2.80 3.35 8.61 9.97 9.38 2.73 50

 51 FA156007016 NIPA concept (NIPA data) (line 46) 11.36 3.33 3.86 2.99 3.24 3.25 4.77 5.10 4.01 51

 52 FA176007086 Difference (line 47) -0.64 2.68 5.41 -0.18 0.11 5.36 5.20 4.28 -1.28 52

(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 15), and pension entitlements (line 16).

(3) Line 18 less line 24.

(4) Table F.5, line 62 plus line 66.

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

(6) Lines 45 and 46 are conceptually equivalent but measure saving using different data. Line 45 is net acquisition of financial assets net of government insurance and pension fund reserves (line 1 less

 line 43) and including contributions for government social insurance to U.S.-affiliated areas, plus net investment in nonfinancial assets net of consumer durables (line 28 less line 42) less net increase

 in liabilities (line 34) plus net capital transfers paid (line 40). Personal saving, NIPA concept (NIPA) (line 46) is disposable personal income (line 48) less personal outlays (table F.101, line 4).
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L.6 Assets and Liabilities of the Personal Sector (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL174090005 Total financial assets 110181.3 99771.6 107868.1 99364.1 97331.3 99771.6 103180.5 106127.5 104453.2 1

 2 LM153091003 Foreign deposits 48.2 51.7 50.3 51.5 53.0 51.7 51.0 49.9 49.1 2

 3 FL173020005 Checkable deposits and currency 4617.0 5049.7 4886.0 5212.8 5300.0 5049.7 5073.1 4980.0 4750.5 3

 4 FL173030005 Time and savings deposits 12445.4 11723.7 12532.0 12103.8 11767.0 11723.7 11326.7 11218.3 11298.7 4

 5 FL173034005 Money market fund shares 2934.4 3216.7 2909.6 2964.9 3054.0 3216.7 3524.9 3677.9 3829.3 5

 6 FL174022005 Debt securities 3335.3 4669.8 3331.6 3495.6 3999.1 4669.8 5352.4 5459.1 5553.4 6

 7 FL173061105 Treasury securities 678.9 1705.8 902.9 919.5 1308.6 1705.8 2171.0 2332.7 2477.9 7

 8 LM153061705 Agency- and GSE-backed securities 460.8 1077.4 512.6 702.5 889.3 1077.4 1225.2 1159.3 1174.6 8

 9 FL173062005 Municipal securities 1814.4 1628.1 1661.8 1620.5 1548.1 1628.1 1692.4 1700.4 1632.9 9

 10 LM153063005 Corporate and foreign bonds 381.2 258.5 254.2 253.1 253.0 258.5 263.8 266.8 268.0 10

 11 FL174023005 Loans 1347.8 1270.0 1451.3 1401.7 1335.0 1270.0 1240.9 1240.4 1173.9 11

 12 FL153069005 Other loans and advances 1187.5 1118.2 1292.6 1245.4 1181.0 1118.2 1089.2 1090.0 1024.8 12

 13 FL173065005 Mortgages 138.2 133.1 137.3 135.9 134.6 133.1 133.1 132.2 131.8 13

 14 FL173066005 Consumer credit 22.0 18.7 21.3 20.5 19.5 18.7 18.6 18.2 17.3 14

 15 LM153064105 Corporate equities (2) 31782.0 26504.9 31044.2 26025.6 25158.5 26504.9 28142.4 29891.4 28852.3 15

 16 LM153064205 Mutual fund shares 12822.0 9749.3 11864.2 10047.6 9354.0 9749.3 10195.4 10670.3 10235.9 16

 17 FL163070005 Trade receivables 286.3 293.2 288.0 289.7 291.5 293.2 295.0 296.7 298.5 17

 18 FL153040005 Life insurance reserves 1944.9 1933.3 1935.1 1907.6 1907.7 1933.3 1966.8 1996.5 1987.1 18

 19 FL153050005 Pension entitlements 31489.0 27867.7 30415.3 28619.9 27772.0 27867.7 28504.8 29085.5 28828.0 19

 20 FL173099005 Miscellaneous and other assets 7129.1 7441.7 7160.6 7243.3 7339.5 7441.7 7507.0 7561.5 7596.5 20

 21 FL174190005 Total liabilities 29529.8 31142.8 29877.0 30360.9 30775.3 31142.8 31279.7 31522.0 31716.3 21

 22 FL173165105 One-to-four-family residential mortgages 12765.3 13592.7 12921.2 13199.3 13427.1 13592.7 13654.1 13752.3 13842.4 22

 23 FL173165205 Other mortgages 4452.8 4726.9 4522.2 4602.8 4660.1 4726.9 4786.6 4835.0 4879.5 23

 24 FL153166000 Consumer credit 4548.5 4894.0 4577.0 4694.1 4789.3 4894.0 4886.5 4940.8 4967.3 24

 25 FL173169005 Other loans and advances 1249.5 1164.1 1272.3 1228.7 1225.3 1164.1 1157.9 1157.2 1186.5 25

 26 FL173199005 Other liabilities 6513.8 6765.0 6584.3 6636.0 6673.4 6765.0 6794.5 6836.8 6840.7 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 16), life insurance reserves (line 18), and pension entitlements (line 19).
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Z.1, December 7, 2023 15

F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA386000105 Gross saving less net capital transfers paid 5723.9 6271.2 6096.8 6254.5 6513.0 6220.3 6095.9 6180.5 6102.3 1

 2 FA385090005 Gross investment 5658.5 7051.7 8352.8 8006.6 5822.2 6025.1 6096.4 6131.4 6738.4 2

 3 FA385050005 Capital expenditures 6580.9 7254.4 7242.1 7217.2 7235.4 7322.8 7327.6 7402.1 7582.2 3

 4 FA155111003 Consumer durables 1844.8 1957.9 1950.4 1952.4 1971.0 1958.0 2018.6 2017.4 2028.0 4

 5 FA385012005 Fixed residential investment 1133.4 1174.3 1225.8 1223.6 1157.1 1090.6 1069.3 1061.4 1091.1 5

 6 FA385013005 Fixed nonresidential investment 3590.9 3964.7 3816.7 3920.8 4024.8 4096.4 4215.8 4304.5 4352.4 6

 7 FA145020005 Inventory change 11.7 157.3 249.0 120.2 82.3 177.7 23.7 18.6 110.7 7

 8 FA385420005 Nonproduced nonfinancial assets 0.2 0.2 0.3 0.2 0.1 0.1 0.2 0.2 0.0 8

 9 FA385000005 Net lending (+) or net borrowing (-) -922.4 -202.7 1110.6 789.4 -1413.1 -1297.7 -1231.2 -1270.7 -843.8 9

 10 FA384090005 Net acquisition of financial assets 4236.0 3920.3 7687.7 4656.1 1714.8 1622.5 2086.7 4072.9 4195.6 10

 11 FA313011005 U.S. official reserve assets 114.1 5.8 3.7 4.6 3.3 11.6 3.1 0.9 -2.1 11

 12 FA383091005 Foreign deposits 31.1 27.8 85.5 -95.5 17.0 104.1 -17.8 84.6 29.3 12

 13 FA383020005 Checkable deposits and currency 106.3 450.4 2101.1 1671.1 -263.9 -1706.5 -934.0 713.0 473.0 13

 14 FA383030005 Time and savings deposits 851.0 -721.9 269.2 -1447.1 -1360.2 -349.6 -1752.7 500.8 258.6 14

 15 FA383034005 Money market fund shares 230.5 218.6 -35.9 232.1 154.7 523.3 1788.1 857.4 617.4 15

 16 FA382051005 Security repurchase agreements -0.3 11.7 22.9 -11.5 10.3 25.3 18.9 7.5 8.6 16

 17 FA384022005 Debt securities -623.0 1877.9 545.4 2438.3 1558.8 2969.0 2303.4 1070.8 745.9 17

 18 FA383069105 Open market paper 9.4 -47.5 -84.0 74.4 -157.6 -22.8 28.6 -36.8 124.1 18

 19 FA383061105 Treasury securities -257.6 1474.6 875.6 1373.9 1713.6 1935.3 1372.9 1503.2 825.9 19

 20 FA383061705 Agency- and GSE-backed securities -58.1 713.8 351.0 761.1 978.5 764.5 545.3 -293.6 216.3 20

 21 FA383062005 Municipal securities -97.4 37.5 -109.9 146.9 14.8 98.3 134.8 139.5 56.4 21

 22 FA383063005 Corporate and foreign bonds -219.3 -300.5 -487.2 82.0 -990.5 193.6 221.7 -241.6 -476.8 22

 23 FA384023005 Loans 291.3 106.1 699.5 -52.0 -136.0 -87.2 -42.5 -195.6 -337.4 23

 24 FA383069005 Other loans and advances 205.6 21.4 609.7 -58.2 -237.5 -228.7 -116.1 -151.2 -260.1 24

 25 FA383065005 Mortgages 32.4 37.1 51.0 32.9 32.8 31.8 56.1 27.0 35.1 25

 26 FA383066005 Consumer credit 53.3 47.6 38.7 -26.7 68.7 109.7 17.5 -71.4 -112.4 26

 27 FA103092305 U.S. direct investment abroad: intercompany debt -52.7 -26.6 -132.5 109.6 -102.5 19.0 123.7 -54.8 81.9 27

 28 FA383064105 Corporate equities 1035.1 536.9 925.5 -82.9 598.4 706.7 -119.2 -422.9 630.1 28

 29 FA103092105 U.S. direct investment abroad: equity 293.1 357.7 445.2 295.4 324.6 365.7 167.4 208.5 119.8 29

 30 FA383094905 Miscellaneous other equity -203.8 -94.0 -130.0 -172.1 -26.8 -47.1 -18.1 43.9 41.3 30

 31 FA383064205 Mutual fund shares 566.1 -731.4 -615.1 -1257.0 -470.4 -583.0 -123.2 107.4 -209.9 31

 32 FA153040005 Life insurance reserves 30.9 59.4 62.7 70.0 67.5 37.3 66.6 74.5 11.2 32

 33 FA153050005 Pension entitlements 230.4 517.1 550.3 510.3 559.0 448.9 604.4 575.1 361.0 33

 34 FA383070005 Trade receivables 641.5 261.0 770.3 856.6 -360.0 -222.7 -154.6 202.6 410.3 34

 35 FA383078005 Taxes payable -101.9 -64.1 23.4 -236.2 -103.4 59.9 57.5 -147.9 -1.7 35

 36 FA383090005 Miscellaneous assets 796.4 1127.8 2096.7 1822.5 1244.3 -652.2 115.7 447.2 958.2 36

 37 FA384194005 Net increase in liabilities and equity 5158.4 4123.0 6577.1 3866.6 3128.0 2920.2 3318.0 5343.6 5039.4 37

 38 FA384190005 Net increase in liabilities 5067.5 4468.8 6930.2 4467.2 3407.3 3070.5 3318.3 5418.0 4993.8 38

 39 FA313111303 U.S. official reserve assets 112.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 FA313112003 Treasury currency -0.1 -0.4 0.0 0.0 -1.7 0.0 0.0 0.0 0.0 41

 42 FA384122005 Debt securities 2003.9 1573.8 2704.3 1483.1 1262.8 845.2 704.5 4772.2 3050.8 42

 43 FA103169100 Open market paper 6.0 59.3 -19.9 140.2 169.0 -52.1 -82.2 10.8 49.1 43

 44 FA313161105 Treasury securities 1683.8 1546.9 2587.8 1441.8 1102.6 1055.2 104.2 4538.7 2962.0 44

 45 FA313161705 Agency- and GSE-backed securities -0.4 0.0 -1.6 1.3 -1.5 1.8 -0.2 -7.0 6.3 45

 46 FA383162005 Municipal securities 79.2 -52.5 -47.6 52.8 -30.5 -184.8 45.2 108.4 -11.0 46

 47 FA103163005 Corporate and foreign bonds 235.3 20.2 185.5 -153.0 23.1 25.0 637.4 121.4 44.5 47

 48 FA384123005 Loans 1899.4 2202.6 2817.7 2730.9 1860.6 1401.2 1948.7 -326.8 723.8 48

 49 FA383168005 Depository institution loans n.e.c. -61.2 413.5 387.5 691.9 203.1 371.3 36.4 -33.9 -114.4 49

 50 FA383169005 Other loans and advances 467.4 116.9 522.0 76.4 59.5 -190.4 983.8 -1027.1 205.1 50

 51 FA383165005 Mortgages 1255.4 1326.8 1556.7 1608.5 1270.6 871.2 720.9 631.4 580.7 51

 52 FA153166000 Consumer credit 237.8 345.5 351.5 354.1 327.4 349.0 207.6 102.7 52.4 52

 53 FA143192305 Foreign direct investment: intercompany debt -1.3 69.7 43.0 48.5 121.1 66.3 -27.2 -0.4 -51.3 53

 54 FA313140003 Life insurance reserves 0.3 0.4 0.9 -0.3 1.0 -0.1 2.0 -0.2 2.9 54

 55 FA383170005 Trade payables 644.8 436.4 746.3 746.5 18.8 233.9 -200.9 159.4 486.1 55

 56 FA143178005 Taxes payable 6.8 39.1 186.2 -50.0 11.4 8.7 83.8 -100.7 16.4 56

 57 FA383190005 Miscellaneous liabilities 401.0 147.2 431.8 -491.5 133.2 515.3 807.4 914.6 765.2 57

 58 FA143181105 Net equity issues 90.9 -345.8 -353.1 -600.6 -279.3 -150.4 -0.3 -74.5 45.6 58

 59 FA103164105 Corporate equities -166.3 -515.7 -531.8 -732.4 -527.2 -271.6 -385.9 -356.9 -378.6 59

 60 FA143192105 Foreign direct investment: equity 386.7 265.1 266.8 292.4 293.9 207.4 445.7 248.2 396.0 60

 61 FA112090205 Equity in noncorporate business -129.5 -95.2 -88.1 -160.6 -45.9 -86.2 -60.1 34.2 28.2 61

 62 FA387005005 Discrepancy 65.4 -780.5 -2255.9 -1752.1 690.8 195.2 -0.4 49.1 -636.1 62

(1) Sum of domestic nonfinancial sectors shown on tables F.101 through F.107.
Transactions

16 Z.1, December 7, 2023

F.101 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA156010001 Personal income 21407.7 21840.8 21410.5 21659.7 22018.8 22274.1 22643.9 22868.0 23086.3 1

 2 FA156210005 - Personal current taxes 2743.3 3138.3 3162.8 3157.8 3137.0 3095.7 2763.7 2703.8 2778.1 2

 3 FA156012005 = Disposable personal income 18664.4 18702.5 18247.8 18501.9 18881.7 19178.4 19880.2 20164.2 20308.2 3

 4 FA156900005 - Personal outlays 16543.9 18079.7 17544.0 17949.5 18269.1 18556.0 18932.0 19136.6 19492.8 4

 5 FA156007015 = Personal saving, NIPA (2) 2120.5 622.8 703.8 552.4 612.6 622.4 948.2 1027.6 815.4 5

 6 FA313154015 + Government insurance and pension reserves (3) -1.2 -2.7 -2.5 -3.9 -3.0 -1.5 -0.9 -0.8 -2.0 6

 7 FA156600075 - Contr. for govt. soc. insur., U.S.-affiliated areas 5.3 5.8 5.6 5.7 5.8 5.9 6.0 6.1 6.2 7

 8 FA155111005 + Net investment in consumer durables 479.0 398.6 456.6 401.7 391.6 344.5 400.0 379.8 368.5 8

 9 FA156300005 + Consumption of fixed capital 2087.8 2380.4 2284.0 2365.8 2415.0 2456.6 2461.8 2485.9 2521.9 9

 10 FA155440005 - Net capital transfers paid (4) -42.4 2.7 31.4 32.1 -74.5 21.5 28.1 5.3 -423.0 10

 11 FA156000105 = Gross saving less net capital transfers paid 4723.2 3390.6 3404.7 3278.2 3485.0 3394.6 3774.8 3881.1 4120.6 11

 12 FA155090005 Gross investment 4603.7 3891.0 4392.1 3244.1 3505.2 4422.6 4809.5 4744.6 3860.4 12

 13 FA155050005 Capital expenditures 3022.3 3188.2 3236.8 3216.6 3183.6 3115.7 3174.9 3172.2 3202.2 13

 14 FA155111003 Consumer durable goods 1844.8 1957.9 1950.4 1952.4 1971.0 1958.0 2018.6 2017.4 2028.0 14

 15 FA155012005 Residential 937.7 970.8 1015.4 1012.8 955.1 899.9 888.8 882.1 899.9 15

 16 FA165013005 Nonprofit nonresidential 254.7 275.0 286.4 266.9 273.2 273.5 283.4 288.7 290.5 16

 17 FA155420003 Nonproduced nonfinancial assets -14.9 -15.5 -15.3 -15.5 -15.6 -15.8 -15.8 -15.9 -16.1 17

 18 FA155000005 Net lending (+) or net borrowing (-) 1581.4 702.8 1155.3 27.5 321.6 1306.9 1634.5 1572.3 658.2 18

 19 FA154090005 Net acquisition of financial assets 2852.4 1877.9 2662.4 1341.8 1547.0 1960.3 2135.7 2131.7 1187.7 19

 20 FA153091003 Foreign deposits -0.2 3.4 8.3 4.6 6.2 -5.5 -2.5 -4.7 -2.9 20

 21 FA153020005 Checkable deposits and currency 971.1 390.2 695.8 1634.8 639.2 -1409.0 -155.0 26.6 -685.5 21

 22 FA153030005 Time and savings deposits 779.7 -793.2 85.6 -1291.9 -1469.3 -497.3 -1777.2 -57.7 177.2 22

 23 FA153034005 Money market fund shares 111.8 276.0 94.5 300.0 221.2 488.4 1429.2 687.2 479.7 23

 24 FA154022005 Debt securities -995.6 1547.2 337.4 1574.8 1439.0 2837.8 2080.1 859.6 417.3 24

 25 FA153061105 Treasury securities -654.4 1138.6 626.4 635.4 1487.7 1804.9 1198.2 1296.2 652.5 25

 26 FA153061705 Agency- and GSE-backed securities -21.2 670.8 310.2 702.0 928.2 743.0 532.9 -320.2 211.3 26

 27 FA153062005 Municipal securities -112.6 30.4 -117.3 139.7 7.2 92.1 127.0 129.9 45.8 27

 28 FA153063005 Corporate and foreign bonds -207.4 -292.6 -481.9 97.8 -984.1 197.7 222.0 -246.3 -492.3 28

 29 FA154023005 Loans 93.1 -81.6 409.3 -202.6 -269.8 -263.1 -117.8 -3.9 -266.4 29

 30 FA153069005 Other loans and advances (5) 89.0 -69.3 420.5 -189.0 -257.7 -251.2 -116.1 3.3 -260.6 30

 31 FA153065005 Mortgages 6.1 -8.9 -8.4 -10.2 -8.1 -8.9 -1.4 -5.6 -2.2 31

 32 FA163066223 Consumer credit (student loans) -2.0 -3.4 -2.9 -3.4 -4.0 -3.1 -0.3 -1.5 -3.6 32

 33 FA153064105 Corporate equities (6) 1139.8 677.6 1087.0 52.6 727.0 844.1 21.5 -282.2 770.8 33

 34 FA153081115 Miscellaneous other equity -113.7 -91.6 -132.8 -164.8 -31.5 -37.1 -27.9 43.4 31.7 34

 35 FA153064205 Mutual fund shares 542.9 -728.2 -611.9 -1253.8 -467.2 -579.8 -120.0 110.5 -206.7 35

 36 FA153040005 Life insurance reserves 30.9 59.4 62.7 70.0 67.5 37.3 66.6 74.5 11.2 36

 37 FA153050005 Pension entitlements (7) 230.4 517.1 550.3 510.3 559.0 448.9 604.4 575.1 361.0 37

 38 FA163070005 Trade receivables 6.8 6.9 6.9 6.9 6.9 6.9 7.0 7.0 7.0 38

 39 FA153090005 Miscellaneous assets 55.3 94.4 69.4 101.0 118.8 88.5 127.3 96.1 93.2 39

 40 FA154190005 Net increase in liabilities 1271.0 1175.1 1507.1 1314.3 1225.4 653.3 501.2 559.4 529.6 40

 41 FA163162003 Debt securities (municipal securities) -1.2 -0.9 8.3 -10.0 -3.0 1.1 0.3 9.0 0.1 41

 42 FA154123005 Loans 1239.4 1144.3 1458.7 1294.4 1195.2 628.9 465.2 518.7 495.0 42

 43 FA153165105 One-to-four-family residential mortgages (8) 819.9 837.7 1023.0 1038.8 825.4 463.6 348.4 368.5 322.9 43

 44 FA153166000 Consumer credit 237.8 345.5 351.5 354.1 327.4 349.0 207.6 102.7 52.4 44

 45 FA153168005 Depository institution loans n.e.c. (9) 52.3 69.4 58.4 80.6 45.3 93.4 -85.0 -23.2 -1.2 45

 46 FA153169005 Other loans and advances 111.9 -128.5 5.7 -199.3 -23.0 -297.3 -31.8 44.7 94.9 46

 47 FA163165505 Commercial mortgages 17.4 20.2 20.2 20.2 20.2 20.2 26.0 26.0 26.0 47

 48 FA163170005 Trade payables 31.4 33.1 33.1 33.1 33.1 33.1 31.6 31.6 31.6 48

 49 FA543077073 Deferred and unpaid life insurance premiums 1.5 -1.5 7.0 -3.2 0.1 -9.8 4.1 0.1 2.8 49

 50 FA157005005 Discrepancy 119.5 -500.4 -987.4 34.1 -20.3 -1028.0 -1034.6 -863.5 260.2 50

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary table B.101.n shows estimates of annual year-end outstandings of nonprofit organizations.

(2) See table F.6 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.5, line 66.

(5) Includes cash accounts at brokers and dealers and syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(6) Directly held corporate equities, including closed-end fund, exchange-traded fund, and real estate investment trust shares.

(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 (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 I).
Transactions

Z.1, December 7, 2023 17

F.102 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA146110005 Income before taxes 4172.7 4453.4 4357.9 4599.7 4479.0 4377.0 4428.5 4477.0 4614.1 1

 2 FA146000105 Gross saving less net capital transfers paid 2875.3 3111.4 2765.9 2999.5 3370.1 3310.2 3299.4 3396.0 3527.7 2

 3 FA145090005 Gross investment 2698.6 3500.7 4204.9 4191.5 3361.9 2244.7 2504.0 3159.6 4443.1 3

 4 FA145050005 Capital expenditures 2722.6 3278.5 3462.6 3140.3 3240.8 3270.2 3191.1 3235.6 3361.7 4

 5 FA145019005 Fixed investment 2705.1 3016.4 2892.5 3006.1 3071.3 3095.6 3171.1 3220.8 3251.3 5

 6 FA145012005 Residential 188.6 195.6 202.6 203.0 194.1 182.6 172.0 170.5 182.2 6

 7 FA145013005 Nonresidential 2516.5 2820.8 2689.9 2803.1 2877.3 2913.0 2999.1 3050.3 3069.0 7

 8 FA145020005 Change in inventories 11.7 157.3 249.0 120.2 82.3 177.7 23.7 18.6 110.7 8

 9 FA105420005 Nonproduced nonfinancial assets 5.8 104.8 321.1 14.0 87.2 -3.1 -3.7 -3.8 -0.2 9

 10 FA145000005 Net lending (+) or net borrowing (-) -24.0 222.3 742.3 1051.3 121.1 -1025.5 -687.1 -76.0 1081.4 10

 11 FA144090005 Net acquisition of financial assets 2037.6 1520.7 3237.3 1986.0 637.8 221.5 535.3 1076.0 2139.7 11

 12 FA103091003 Foreign deposits 31.3 24.4 77.2 -100.1 10.8 109.5 -15.4 89.2 32.2 12

 13 FA143020005 Checkable deposits and currency 343.0 3.0 211.9 -596.8 -164.4 561.3 118.3 -276.6 298.1 13

 14 FA143030005 Time and savings deposits 101.0 84.7 178.0 -82.5 121.6 121.6 19.6 513.4 109.9 14

 15 FA143034005 Money market fund shares 103.3 -67.2 -133.0 -74.9 -76.8 15.8 334.0 158.4 124.4 15

 16 FA102051003 Security repurchase agreements -10.3 1.7 12.9 -21.5 0.3 15.3 8.9 -2.5 -1.4 16

 17 FA144022005 Debt securities 40.2 -5.7 -62.1 129.5 -121.4 31.4 4.7 52.0 181.8 17

 18 FA103069100 Commercial paper 5.4 -51.5 -88.0 70.4 -161.6 -26.8 24.6 -40.8 120.1 18

 19 FA143061105 Treasury securities 12.9 35.9 4.5 57.1 35.5 46.6 -14.6 72.7 48.9 19

 20 FA103061703 Agency- and GSE-backed securities 2.9 6.7 -1.1 10.4 3.0 14.3 -1.2 20.4 7.9 20

 21 FA143062005 Municipal securities 11.3 0.7 1.9 1.3 0.8 -1.2 -0.3 0.8 1.1 21

 22 FA123063003 Corporate bonds (held by equity REITs) 7.7 2.6 20.7 -9.6 0.8 -1.5 -3.8 -1.1 3.7 22

 23 FA144023005 Loans 12.6 25.0 46.0 -69.4 40.0 83.4 41.9 -72.3 40.7 23

 24 FA143065005 Mortgages 12.7 25.0 44.5 22.5 13.8 19.3 42.9 20.4 17.4 24

 25 FA143066005 Consumer credit -0.0 -0.0 1.5 -91.9 26.2 64.1 -1.0 -92.7 23.3 25

 26 FA103092305 U.S. direct investment abroad: intercompany debt -52.7 -26.6 -132.5 109.6 -102.5 19.0 123.7 -54.8 81.9 26

 27 FA103064103 Corporate equities -101.4 -137.3 -158.1 -132.1 -125.1 -134.0 -137.3 -137.3 -137.3 27

 28 FA103092105 U.S. direct investment abroad: equity 293.1 357.7 445.2 295.4 324.6 365.7 167.4 208.5 119.8 28

 29 FA143092405 Equity in GSEs 1.4 1.0 1.6 -0.4 3.3 -0.5 8.8 2.1 0.9 29

 30 FA103064203 Mutual fund shares 22.0 -4.4 -4.4 -4.4 -4.4 -4.4 -4.4 -4.4 -4.4 30

 31 FA143070005 Trade receivables 578.1 231.9 725.7 821.2 -371.5 -247.8 -149.7 191.7 363.7 31

 32 FA143090005 Miscellaneous assets 675.9 1032.5 2028.8 1712.5 1103.4 -714.8 14.7 408.5 929.6 32

 33 FA144194005 Net increase in liabilities and equity 2061.6 1298.4 2494.9 934.8 516.8 1247.0 1222.4 1152.0 1058.3 33

 34 FA144190005 Net increase in liabilities 1970.7 1644.2 2848.0 1535.3 796.1 1397.4 1222.7 1226.5 1012.7 34

 35 FA104122005 Debt securities 252.6 80.3 187.8 -2.6 181.2 -45.4 562.1 142.5 93.8 35

 36 FA103169100 Commercial paper 6.0 59.3 -19.9 140.2 169.0 -52.1 -82.2 10.8 49.1 36

 37 FA103162000 Municipal securities 11.3 0.8 22.2 10.2 -10.9 -18.3 6.8 10.4 0.2 37

 38 FA103163005 Corporate bonds 235.3 20.2 185.5 -153.0 23.1 25.0 637.4 121.4 44.5 38

 39 FA144123005 Loans 659.5 1057.6 1358.6 1436.1 664.8 770.8 391.1 245.0 228.8 39

 40 FA143168005 Depository institution loans n.e.c. -113.6 344.0 329.1 611.3 157.8 277.9 121.4 -10.7 -113.2 40

 41 FA143169005 Other loans and advances 355.0 244.6 515.8 275.3 82.0 105.4 -76.7 18.7 110.2 41

 42 FA143165005 Mortgages 418.1 468.9 513.6 549.5 425.1 387.5 346.4 236.9 231.7 42

 43 FA143192305 Foreign direct investment: intercompany debt -1.3 69.7 43.0 48.5 121.1 66.3 -27.2 -0.4 -51.3 43

 44 FA143170005 Trade payables 498.1 291.2 580.0 561.8 -98.6 121.8 -286.1 44.0 318.9 44

 45 FA143178005 Taxes payable 6.8 39.1 186.2 -50.0 11.4 8.7 83.8 -100.7 16.4 45

 46 FA143190005 Miscellaneous liabilities 555.0 106.3 492.4 -458.5 -83.9 475.2 498.9 896.1 406.3 46

 47 FA143181105 Net equity issues 90.9 -345.8 -353.1 -600.6 -279.3 -150.4 -0.3 -74.5 45.6 47

 48 FA103164105 Corporate equities -166.3 -515.7 -531.8 -732.4 -527.2 -271.6 -385.9 -356.9 -378.6 48

 49 FA143192105 Foreign direct investment: equity 386.7 265.1 266.8 292.4 293.9 207.4 445.7 248.2 396.0 49

 50 FA112090205 Equity in noncorporate business -129.5 -95.2 -88.1 -160.6 -45.9 -86.2 -60.1 34.2 28.2 50

 51 FA107005005 Discrepancy 176.7 -389.3 -1439.0 -1192.0 8.2 1065.5 795.4 236.4 -915.4 51

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
Transactions

18 Z.1, December 7, 2023

F.103 Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA106060005 Profits before tax 2234.0 2451.5 2400.4 2615.0 2457.1 2333.7 2373.9 2422.1 2517.2 1

 2 FA106231005 - Taxes on corporate income 298.0 416.9 424.5 422.0 403.4 417.8 437.4 430.4 429.8 2

 3 FA106121075 - Net dividends 1109.6 1233.3 1289.1 1241.3 1184.3 1218.4 1076.0 1097.4 1060.2 3

 4 FA105020601 + Inventory valuation adjustment (IVA) -257.1 -96.2 -240.9 -227.7 -16.8 100.4 45.3 40.5 19.6 4

 5 FA106300015 + Capital consumption allowance (1) 1811.3 1866.9 1832.1 1853.6 1877.8 1904.3 1877.8 1904.9 1931.7 5

 6 FA106006065 + Foreign earnings retained abroad 81.2 114.2 58.0 83.6 116.5 198.7 52.5 88.6 76.4 6

 7 FA105440005 - Net capital transfers paid (2) -9.8 30.3 -0.4 103.7 -35.2 52.9 -0.5 -0.6 -0.5 7

 8 FA106000105 = Gross savings less net capital transfers paid 2471.8 2656.0 2336.5 2557.6 2882.1 2848.0 2836.5 2929.0 3055.3 8

 9 FA105090005 Gross investment 2295.0 3045.4 3775.6 3749.6 2873.9 1782.5 2041.0 2692.6 3970.7 9

 10 FA105050005 Capital expenditures 2231.6 2731.6 2932.1 2590.7 2693.9 2709.6 2637.2 2674.9 2777.1 10

 11 FA105019005 Fixed investment (3) 2215.1 2483.2 2390.6 2463.7 2524.8 2553.8 2616.5 2664.2 2687.1 11

 12 FA105020005 Inventory change + IVA 10.7 143.6 220.4 113.0 81.9 158.9 24.4 14.5 90.3 12

 13 FA105420005 Nonproduced nonfinancial assets 5.8 104.8 321.1 14.0 87.2 -3.1 -3.7 -3.8 -0.2 13

 14 FA105000005 Net lending (+) or net borrowing (-) 63.4 313.8 843.5 1158.9 179.9 -927.1 -596.2 17.7 1193.6 14

 15 FA104090005 Net acquisition of financial assets 1334.6 1169.4 2804.3 1659.2 365.9 -151.9 298.4 878.1 2044.2 15

 16 FA103091003 Foreign deposits 31.3 24.4 77.2 -100.1 10.8 109.5 -15.4 89.2 32.2 16

 17 FA103020005 Checkable deposits and currency 264.8 -39.5 88.0 -645.9 -141.6 541.3 110.2 -289.9 293.2 17

 18 FA103030003 Time and savings deposits 5.6 13.3 3.7 -80.8 124.7 5.8 -88.6 467.2 94.8 18

 19 FA103034000 Money market fund shares 101.0 -73.5 -135.5 -84.8 -83.1 9.2 331.2 153.7 123.0 19

 20 FA102051003 Security repurchase agreements -10.3 1.7 12.9 -21.5 0.3 15.3 8.9 -2.5 -1.4 20

 21 FA104022005 Debt securities 37.8 -18.5 -67.2 108.3 -143.3 28.3 12.0 43.1 166.6 21

 22 FA103069100 Commercial paper 5.4 -51.5 -88.0 70.4 -161.6 -26.8 24.6 -40.8 120.1 22

 23 FA103061103 Treasury securities 10.7 24.0 1.2 36.9 14.6 43.2 -7.6 64.1 34.7 23

 24 FA103061703 Agency- and GSE-backed securities 2.9 6.7 -1.1 10.4 3.0 14.3 -1.2 20.4 7.9 24

 25 FA103062003 Municipal securities 11.2 -0.2 0.0 0.2 -0.2 -0.9 -0.0 0.5 0.1 25

 26 FA123063003 Corporate bonds (held by equity REITs) 7.7 2.6 20.7 -9.6 0.8 -1.5 -3.8 -1.1 3.7 26

 27 FA104023005 Loans 14.4 21.2 41.4 -74.0 37.0 80.3 40.7 -74.2 40.1 27

 28 FA103065005 Mortgages 14.4 21.2 39.8 17.9 10.8 16.2 41.7 18.5 16.8 28

 29 FA103066005 Consumer credit -0.0 -0.0 1.5 -91.9 26.2 64.1 -1.0 -92.7 23.3 29

 30 FA103092305 U.S. direct investment abroad: intercompany debt -52.7 -26.6 -132.5 109.6 -102.5 19.0 123.7 -54.8 81.9 30

 31 FA103064103 Corporate equities -101.4 -137.3 -158.1 -132.1 -125.1 -134.0 -137.3 -137.3 -137.3 31

 32 FA103092105 U.S. direct investment abroad: equity 293.1 357.7 445.2 295.4 324.6 365.7 167.4 208.5 119.8 32

 33 FA103092405 Equity in GSEs 0.2 0.1 1.5 -0.6 -0.2 -0.2 1.5 -0.5 -0.2 33

 34 FA103064203 Mutual fund shares 22.0 -4.4 -4.4 -4.4 -4.4 -4.4 -4.4 -4.4 -4.4 34

 35 FA103070005 Trade receivables 498.1 181.1 682.5 751.9 -415.9 -294.2 -170.3 157.9 352.5 35

 36 FA103090005 Miscellaneous assets 230.7 869.7 1949.6 1538.3 884.5 -893.7 -81.3 321.9 883.5 36

 37 FA104194005 Net increase in liabilities and equity 1271.2 855.6 1960.8 500.3 186.0 775.2 894.5 860.4 850.7 37

 38 FA104190005 Net increase in liabilities 1051.6 1106.7 2227.1 939.9 419.5 840.0 835.3 970.5 834.6 38

 39 FA104122005 Debt securities 252.6 80.3 187.8 -2.6 181.2 -45.4 562.1 142.5 93.8 39

 40 FA103169100 Commercial paper 6.0 59.3 -19.9 140.2 169.0 -52.1 -82.2 10.8 49.1 40

 41 FA103162000 Municipal securities (4) 11.3 0.8 22.2 10.2 -10.9 -18.3 6.8 10.4 0.2 41

 42 FA103163005 Corporate bonds 235.3 20.2 185.5 -153.0 23.1 25.0 637.4 121.4 44.5 42

 43 FA104123005 Loans 292.6 624.6 872.2 944.9 340.7 340.5 103.5 132.4 97.5 43

 44 FA103168005 Depository institution loans n.e.c. -83.3 266.2 247.4 526.2 119.1 172.2 69.4 28.9 -36.4 44

 45 FA103169005 Other loans and advances (5) 298.1 201.5 437.7 241.8 62.2 64.3 -76.5 57.9 76.1 45

 46 FA103165005 Mortgages 77.8 156.9 187.1 176.9 159.4 104.0 110.6 45.6 57.8 46

 47 FA103192305 Foreign direct investment: intercompany debt -1.1 69.5 42.7 48.7 120.4 66.2 -26.5 -0.4 -50.5 47

 48 FA103170005 Trade payables 429.8 248.3 533.4 522.0 -122.0 59.8 -292.9 20.2 329.0 48

 49 FA103178005 Taxes payable -25.5 27.6 174.4 -64.0 2.2 -2.1 77.0 -111.8 11.9 49

 50 FA103190005 Miscellaneous liabilities 103.3 56.4 416.5 -509.1 -103.0 421.0 412.0 787.7 352.8 50

 51 FA573074005 Pension fund contributions payable -6.5 -1.3 -2.2 -2.3 -0.7 -0.2 -5.1 -4.7 -1.7 51

 52 FA573073005 Claims of pension fund on sponsor 149.6 55.3 66.8 84.1 34.3 36.0 37.6 33.1 70.2 52

 53 FA103193005 Other -39.8 2.4 351.9 -590.9 -136.7 385.2 379.5 759.2 284.4 53

 54 FA103181105 Net equity issues 219.6 -251.1 -266.3 -439.6 -233.5 -64.8 59.3 -110.1 16.1 54

 55 FA103164105 Corporate equities -166.3 -515.7 -531.8 -732.4 -527.2 -271.6 -385.9 -356.9 -378.6 55

 56 FA103192105 Foreign direct investment: equity 385.8 264.7 265.5 292.7 293.7 206.8 445.1 246.8 394.7 56

 57 FA107005005 Discrepancy 176.7 -389.3 -1439.0 -1192.0 8.2 1065.5 795.4 236.4 -915.4 57

 Memo:

 58 FA105005305 Financing gap (6) -158.9 189.8 653.6 116.8 -71.7 60.4 -146.8 -165.5 -201.8 58

(1) Consumption of fixed capital plus the capital consumption adjustment.

(2) Table F.5, line 61.

(3) Nonresidential fixed investment plus residential fixed investment, shown in table F.2, lines 10 and 15 respectively.

(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.

(5) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table F.216.

(6) The financing gap is the difference between capital expenditures (line 10) and gross savings less net capital transfers paid less foreign earnings retained abroad (line 8 minus line 6).
Transactions

Z.1, December 7, 2023 19

F.104 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA116300005 Gross saving = consumption of fixed capital 398.4 445.2 429.3 441.9 452.0 457.8 463.0 467.0 472.4 1

 2 FA116000105 Gross saving less net capital transfers paid (1) 403.6 455.4 429.3 441.9 488.0 462.2 463.0 467.0 472.4 2

 3 FA116000105 Gross investment 403.6 455.4 429.3 441.9 488.0 462.2 463.0 467.0 472.4 3

 4 FA115050005 Capital expenditures 491.0 546.9 530.5 549.5 546.9 560.6 553.9 560.7 584.6 4

 5 FA115019005 Fixed investment (2) 490.0 533.2 501.9 542.4 546.5 541.8 554.6 556.6 564.2 5

 6 FA115020005 Change in inventories 1.0 13.7 28.6 7.1 0.4 18.8 -0.7 4.1 20.4 6

 7 FA115000005 Net lending (+) or net borrowing (-) -87.4 -91.5 -101.2 -107.7 -58.9 -98.4 -90.9 -93.7 -112.2 7

 8 FA114090005 Net acquisition of financial assets 703.1 351.3 433.0 326.8 271.9 373.4 236.9 198.0 95.5 8

 9 FA113020005 Checkable deposits and currency 78.2 42.5 123.9 49.1 -22.9 19.9 8.1 13.3 4.9 9

 10 FA113030003 Time and savings deposits 95.4 71.3 174.3 -1.7 -3.1 115.8 108.2 46.2 15.1 10

 11 FA113034003 Money market funds 2.4 6.3 2.5 9.8 6.3 6.6 2.8 4.6 1.4 11

 12 FA114022005 Debt securities 2.3 12.8 5.2 21.2 21.9 3.0 -7.3 8.9 15.1 12

 13 FA113061003 Treasury securities 2.2 11.9 3.3 20.1 20.9 3.3 -7.0 8.6 14.2 13

 14 FA113062003 Municipal securities 0.1 0.9 1.9 1.0 1.0 -0.3 -0.3 0.3 1.0 14

 15 FA114023005 Loans -1.8 3.8 4.6 4.6 2.9 3.1 1.2 1.9 0.6 15

 16 FA113065005 Mortgages -1.8 3.8 4.6 4.6 2.9 3.1 1.2 1.9 0.6 16

 17 FA113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA113092405 Equity investment in GSEs (3) 1.3 0.9 0.1 0.3 3.5 -0.3 7.3 2.7 1.1 18

 19 FA113070003 Trade receivables 80.1 50.8 43.1 69.3 44.3 46.4 20.6 33.7 11.2 19

 20 FA113090005 Miscellaneous assets 445.2 162.8 79.2 174.2 218.9 178.9 96.0 86.7 46.1 20

 21 FA113076005 Insurance receivables 17.1 9.5 1.4 15.0 16.9 4.7 7.6 10.9 10.8 21

 22 FA113072003 PPP subsidies receivable -102.3 -41.6 -88.3 -46.8 -24.1 -7.2 -3.3 -2.4 -2.0 22

 23 FA113093005 Other 530.4 194.9 166.1 206.1 226.1 181.4 91.7 78.2 37.3 23

 24 FA114194005 Net increase in liabilities and equity 790.4 442.8 534.1 434.5 330.8 471.8 327.9 291.6 207.7 24

 25 FA114190005 Net increase in liabilities 919.1 537.5 620.9 595.4 376.5 557.4 387.4 256.0 178.2 25

 26 FA114123005 Loans 367.0 433.0 486.4 491.2 324.1 430.4 287.6 112.6 131.2 26

 27 FA113168005 Depository institution loans n.e.c. -30.3 77.8 81.8 85.2 38.7 105.6 52.0 -39.6 -76.8 27

 28 FA113169005 Other loans and advances 56.9 43.1 78.1 33.5 19.7 41.2 -0.2 -39.2 34.2 28

 29 FA113165005 Mortgages 340.3 312.1 326.5 372.5 265.7 283.5 235.8 191.4 173.9 29

 30 FA115114305 Foreign direct investment: intercompany debt -0.2 0.2 0.3 -0.2 0.8 0.1 -0.7 0.0 -0.8 30

 31 FA113170005 Trade payables 68.3 42.9 46.6 39.8 23.4 62.0 6.8 23.9 -10.1 31

 32 FA113178003 Taxes payable 32.3 11.5 11.8 14.1 9.2 10.8 6.8 11.1 4.5 32

 33 FA113193003 Miscellaneous liabilities 451.7 49.9 75.9 50.5 19.1 54.2 86.9 108.4 53.5 33

 34 FA113181115 Net equity issues -128.6 -94.8 -86.8 -160.9 -45.8 -85.6 -59.6 35.6 29.5 34

 35 FA115114103 Foreign direct investment: equity 0.8 0.5 1.4 -0.3 0.2 0.6 0.5 1.4 1.3 35

 36 FA112090205 Proprietors’ net investment -129.5 -95.2 -88.1 -160.6 -45.9 -86.2 -60.1 34.2 28.2 36

(1) Net capital transfers paid from table F.5, line 62.

(2) Nonresidential fixed investment plus residential fixed investment, shown in table F.2, lines 11 and 16 respectively.

(3) Equity in the Farm Credit System.
Transactions

20 Z.1, December 7, 2023

F.105 General Government (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA366010115 Current receipts, NIPA basis 7966.6 8638.7 8609.2 8704.8 8635.6 8605.4 8321.4 8264.9 8321.7 1

 2 FA366210005 Personal current taxes 2743.3 3138.3 3162.8 3157.8 3137.0 3095.7 2763.7 2703.8 2778.1 2

 3 FA366240005 Taxes on production and imports 1671.9 1810.2 1784.0 1812.3 1824.0 1820.6 1831.1 1821.6 1833.7 3

 4 FA366231005 Taxes on corporate income 390.8 527.5 513.9 532.3 529.8 534.1 561.1 554.1 552.7 4

 5 FA316231061 Taxes from the rest of the world 31.1 33.8 34.1 34.2 33.4 33.3 34.5 34.9 34.5 5

 6 FA366601005 Contributions for govt. social insurance 1563.3 1707.4 1668.8 1690.4 1731.9 1738.6 1779.9 1800.1 1820.9 6

 7 FA366150105 Income receipts on assets 233.7 212.4 266.6 246.1 180.9 156.0 142.8 142.4 147.1 7

 8 FA366403105 Current transfer receipts 1337.4 1204.6 1171.0 1224.1 1194.0 1229.5 1215.4 1218.1 1165.9 8

 9 FA366402105 Current surplus of government enterprises -5.0 4.4 8.0 7.6 4.5 -2.3 -7.1 -10.0 -11.2 9

 10 FA366900015 Current expenditures, NIPA basis 10463.1 9640.6 9406.1 9571.3 9687.9 9897.0 10058.5 10115.3 10204.2 10

 11 FA366901005 Consumption expenditures 3366.3 3570.1 3473.2 3557.1 3595.5 3654.4 3702.1 3695.5 3790.5 11

 12 FA366404005 Government social benefits 4586.7 3931.7 3891.9 3919.0 3912.1 4003.9 4032.7 4049.0 4021.6 12

 13 FA366403005 Other current transfer payments 1172.0 1037.7 1003.8 1039.0 1063.9 1043.9 1070.3 1068.8 1008.6 13

 14 FA366130005 Interest payments 855.5 973.7 885.2 926.0 998.0 1085.5 1152.0 1202.1 1279.9 14

 15 FA366402005 Subsidies 482.7 127.4 152.0 130.1 118.4 109.2 101.4 99.9 103.7 15

 16 FA366006005 Net saving, NIPA basis -2496.6 -1001.9 -797.0 -866.5 -1052.3 -1291.6 -1737.1 -1850.4 -1882.5 16

 17 FA366300005 + Consumption of fixed capital 659.0 722.3 698.0 717.4 731.8 742.1 754.1 759.7 766.9 17

 18 FA313154015 - Insurance and pension fund reserves (2) -1.2 -2.7 -2.5 -3.9 -3.0 -1.5 -0.9 -0.8 -2.0 18

 19 FA365440095 - Net capital transfers (3) 38.3 -45.9 -22.7 -122.0 24.4 -63.6 -3.8 6.6 432.5 19

 20 FA366000105 = Gross saving less net capital transfers -1874.6 -230.9 -73.8 -23.2 -342.0 -484.5 -978.3 -1096.6 -1546.1 20

 21 FA365090005 Gross investment -1643.8 -340.1 -244.3 571.0 -1044.9 -642.2 -1217.1 -1772.7 -1565.1 21

 22 FA365019005 Fixed investment 826.8 876.8 848.2 858.5 882.3 918.0 941.8 974.4 1001.9 22

 23 FA365420005 Nonproduced nonfinancial assets 9.2 -89.1 -305.5 1.8 -71.4 18.9 19.7 19.9 16.3 23

 24 FA365000005 Net lending (+) or net borrowing (-) -2479.8 -1127.8 -787.0 -289.3 -1855.8 -1579.0 -2178.6 -2767.0 -2583.4 24

 25 FA364090005 Net acquisition of financial assets -654.1 521.8 1788.0 1328.3 -470.0 -559.2 -584.3 865.2 868.1 25

 26 FA313011005 U.S. official reserve assets 114.1 5.8 3.7 4.6 3.3 11.6 3.1 0.9 -2.1 26

 27 FA363020005 Checkable deposits and currency -1207.8 57.2 1193.3 633.0 -738.6 -858.8 -897.3 962.9 860.4 27

 28 FA363030005 Time and savings deposits -29.6 -13.4 5.6 -72.7 -12.4 26.0 4.9 45.1 -28.5 28

 29 FA213034003 Money market fund shares 15.3 9.8 2.6 7.1 10.4 19.1 24.8 11.8 13.3 29

 30 FA212051003 Security repurchase agreements 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 30

 31 FA364022005 Debt securities 332.4 336.3 270.1 734.1 241.2 99.9 218.6 159.1 146.8 31

 32 FA213069103 Open market paper 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 32

 33 FA213061105 Treasury securities 383.9 300.1 244.7 681.5 190.3 83.8 189.4 134.2 124.5 33

 34 FA363061705 Agency- and GSE-backed securities -39.8 36.3 41.8 48.7 47.3 7.2 13.7 6.3 -2.9 34

 35 FA213062003 Municipal securities 3.8 6.4 5.5 6.0 6.7 7.4 8.1 8.8 9.5 35

 36 FA363063005 Corporate and foreign bonds -19.5 -10.5 -26.0 -6.1 -7.2 -2.6 3.5 5.8 11.8 36

 37 FA364023005 Loans 185.6 162.7 244.2 220.1 93.9 92.5 33.5 -119.4 -111.7 37

 38 FA363065005 Mortgages 13.7 21.0 14.9 20.7 27.2 21.4 14.6 12.1 19.8 38

 39 FA313066220 Consumer credit 55.4 51.0 40.1 68.5 46.5 48.7 18.8 22.9 -132.0 39

 40 FA313069005 Other loans and advances 116.6 90.7 189.2 130.8 20.1 22.5 0.1 -154.5 0.5 40

 41 FA363064105 Corporate equities -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 41

 42 FA313081115 Miscellaneous other equity -91.5 -3.5 1.2 -7.0 1.3 -9.5 1.1 -1.7 8.7 42

 43 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 43

 44 FA363070005 Trade receivables 56.6 22.2 37.6 28.5 4.6 18.2 -11.9 3.9 39.6 44

 45 FA363078005 Taxes receivable -101.9 -64.1 23.4 -236.2 -103.4 59.9 57.5 -147.9 -1.7 45

 46 FA363090005 Miscellaneous assets 65.1 0.9 -1.5 9.0 22.0 -26.0 -26.3 -57.4 -64.6 46

 47 FA364190005 Net increase in liabilities 1825.8 1649.5 2575.0 1617.6 1385.7 1019.8 1594.4 3632.2 3451.5 47

 48 FA313111303 SDR allocations 112.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 FA313112003 Treasury currency -0.1 -0.4 0.0 0.0 -1.7 0.0 0.0 0.0 0.0 50

 51 FA364122005 Debt securities 1752.5 1494.5 2508.2 1495.8 1084.5 889.5 142.1 4620.7 2956.9 51

 52 FA313161105 Treasury securities 1683.8 1546.9 2587.8 1441.8 1102.6 1055.2 104.2 4538.7 2962.0 52

 53 FA313161705 Budget agency securities -0.4 0.0 -1.6 1.3 -1.5 1.8 -0.2 -7.0 6.3 53

 54 FA213162005 Municipal securities 69.1 -52.4 -78.1 52.7 -16.6 -167.5 38.0 89.0 -11.4 54

 55 FA364123005 Loans 0.5 0.7 0.5 0.4 0.6 1.5 1092.4 -1090.5 0.0 55

 56 FA313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

 57 FA363169005 Other loans and advances 0.5 0.7 0.5 0.4 0.6 1.5 1092.4 -1090.5 0.0 57

 58 FA313140003 Insurance reserves 0.3 0.4 0.9 -0.3 1.0 -0.1 2.0 -0.2 2.9 58

 59 FA363170005 Trade payables 115.3 112.0 133.2 151.5 84.4 79.0 53.5 83.8 135.5 59

 60 FA363190005 Miscellaneous liabilities -155.5 42.3 -67.7 -29.8 217.0 49.9 304.4 18.4 356.2 60

 61 FA367005005 Discrepancy -230.9 109.2 170.5 -594.2 702.9 157.7 238.7 676.2 19.0 61

 Memo:

 62 FA374090005 Net acquisition of financial assets (consolidated) (4) -1042.2 214.5 1537.3 640.4 -667.6 -652.0 -782.8 721.3 734.1 62

 63 FA374190005 Net increase in liabilities (consolidated) (4) 1437.6 1342.3 2324.3 929.7 1188.1 927.1 1395.9 3488.4 3317.5 63

(1) Sum of the federal government and state and local governments sectors.

(2) 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.

(3) Table F.5, line 63 less line 12.

(4) Excludes Treasury securities and municipal securities held by state and local governments (lines 33 and 35) and federal government loans to state and local governments (line 57).
Transactions

Z.1, December 7, 2023 21

F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA316010105 Current receipts, NIPA basis 4388.6 4976.3 4954.1 5025.0 4991.7 4934.5 4651.1 4680.6 4712.6 1

 2 FA316210001 Personal current taxes 2149.3 2505.4 2506.9 2502.6 2521.9 2490.1 2181.0 2175.1 2180.5 2

 3 FA316240001 Taxes on production and imports 178.6 194.2 200.9 202.8 192.2 180.9 177.0 175.4 171.5 3

 4 FA316231001 Taxes on corporate income 279.9 368.9 329.8 388.8 383.6 373.6 388.6 403.3 406.1 4

 5 FA316231061 Taxes from the rest of the world 31.1 33.8 34.1 34.2 33.4 33.3 34.5 34.9 34.5 5

 6 FA316601001 Contributions for govt. social insurance 1541.1 1685.0 1645.9 1667.8 1709.6 1716.7 1758.5 1778.7 1799.0 6

 7 FA316150105 Income receipts on assets 139.9 114.8 170.5 149.3 82.9 56.5 43.0 41.9 47.2 7

 8 FA316403105 Current transfer receipts 60.4 66.7 58.1 71.9 60.7 75.9 60.6 63.3 65.9 8

 9 FA316402101 Current surplus of government enterprises 8.4 7.6 8.0 7.6 7.4 7.5 7.8 8.0 7.9 9

 10 FA316900005 Current expenditures, NIPA basis 7128.6 6038.5 5928.4 5985.5 6064.4 6175.7 6324.8 6346.3 6400.9 10

 11 FA316901001 Consumption expenditures 1216.4 1229.0 1206.3 1209.4 1232.4 1267.9 1303.0 1307.2 1346.1 11

 12 FA316404001 Government social benefits 3686.0 2919.4 2931.4 2923.8 2896.6 2925.7 2977.0 2961.5 2961.9 12

 13 FA316403001 Other current transfer payments 1172.0 1037.7 1003.8 1039.0 1063.9 1043.9 1070.3 1068.8 1008.6 13

 14 FA316130001 Interest payments 574.6 725.7 635.6 683.8 753.8 829.6 873.8 909.6 981.3 14

 15 FA316402001 Subsidies 479.6 126.8 151.4 129.5 117.7 108.6 100.7 99.2 103.0 15

 16 FA316006005 Net saving, NIPA basis -2739.9 -1062.2 -974.4 -960.5 -1072.7 -1241.2 -1673.7 -1665.7 -1688.3 16

 17 FA316300001 + Consumption of fixed capital 326.0 350.8 341.1 348.7 354.4 359.0 364.3 368.0 372.5 17

 18 FA313154015 - Insurance and pension reserves (1) -1.2 -2.7 -2.5 -3.9 -3.0 -1.5 -0.9 -0.8 -2.0 18

 19 FA315440095 - Net capital transfers paid (2) 121.2 183.8 59.7 417.4 178.5 79.6 85.3 102.3 532.2 19

 20 FA316000105 = Gross saving less net capital transfers paid -2533.9 -892.5 -690.5 -1025.3 -893.9 -960.4 -1393.7 -1399.2 -1846.0 20

 21 FA315090005 Gross investment -2319.7 -970.7 -843.0 -347.9 -1527.6 -1164.5 -1609.4 -2108.7 -1974.3 21

 22 FA315019001 Fixed investment 378.0 406.5 395.4 402.8 404.0 423.9 427.7 437.2 445.5 22

 23 FA315420003 Nonproduced nonfinancial assets -9.0 -108.1 -324.2 -17.2 -90.6 -0.4 0.2 0.3 -3.5 23

 24 FA315000005 Net lending (+) or net borrowing (-) -2688.7 -1269.1 -914.2 -733.5 -1841.0 -1588.0 -2037.3 -2546.1 -2416.2 24

 25 FA314090005 Net acquisition of financial assets -1242.7 125.2 1434.7 524.1 -747.1 -710.9 -791.2 687.0 735.4 25

 26 FA313011005 U.S. official reserve assets 114.1 5.8 3.7 4.6 3.3 11.6 3.1 0.9 -2.1 26

 27 FA313020005 Checkable deposits and currency -1323.6 42.6 1168.1 579.7 -722.4 -855.0 -897.7 974.5 853.2 27

 28 FA313030003 Time and savings deposits 1.1 -1.0 0.2 -3.2 -0.1 -0.9 1.0 -0.6 0.2 28

 29 FA314022005 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 FA313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA313063763 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FA314023005 Loans 177.9 155.0 236.5 212.4 86.2 84.8 25.7 -127.3 -119.8 32

 33 FA313069005 Other loans and advances 116.6 90.7 189.2 130.8 20.1 22.5 0.1 -154.5 0.5 33

 34 FA313065005 Mortgages 6.0 13.4 7.2 13.0 19.6 13.7 6.8 4.3 11.7 34

 35 FA313066220 Consumer credit (3) 55.4 51.0 40.1 68.5 46.5 48.7 18.8 22.9 -132.0 35

 36 FA313064105 Corporate equities (4) -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FA313081115 Miscellaneous other equity -91.5 -3.5 1.2 -7.0 1.3 -9.5 1.1 -1.7 8.7 37

 38 FA313070000 Trade receivables 10.6 1.9 9.5 -15.6 0.6 12.9 20.4 -3.7 6.2 38

 39 FA313078000 Taxes receivable -131.3 -75.5 15.5 -246.8 -116.0 45.2 55.2 -155.1 -10.1 39

 40 FA313091105 Miscellaneous assets -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.8 40

 41 FA314190005 Net increase in liabilities 1445.9 1394.3 2348.9 1257.6 1093.9 877.0 1246.1 3233.1 3151.6 41

 42 FA313111303 SDR allocations 112.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 FA313112003 Treasury currency -0.1 -0.4 0.0 0.0 -1.7 0.0 0.0 0.0 0.0 44

 45 FA314122005 Debt securities 1683.4 1546.9 2586.3 1443.1 1101.2 1057.0 104.0 4531.7 2968.3 45

 46 FA313161105 Treasury securities (5) 1683.8 1546.9 2587.8 1441.8 1102.6 1055.2 104.2 4538.7 2962.0 46

 47 FA313161205 Marketable 1611.4 1287.4 2231.8 1154.2 992.7 771.1 1166.2 3156.0 2917.6 47

 48 FA313161305 Nonmarketable 72.5 259.4 356.0 287.6 110.0 284.2 -1061.9 1382.7 44.4 48

 49 FA313161705 Budget agency securities -0.4 0.0 -1.6 1.3 -1.5 1.8 -0.2 -7.0 6.3 49

 50 FA314123005 Loans 0.0 0.0 0.0 0.0 0.0 0.0 1091.3 -1091.3 0.0 50

 51 FA313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 51

 52 FA313169003 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 1091.3 -1091.3 0.0 52

 53 FA313140003 Insurance reserves 0.3 0.4 0.9 -0.3 1.0 -0.1 2.0 -0.2 2.9 53

 54 FA313170005 Trade payables 57.8 47.2 71.4 86.6 18.5 12.2 -13.6 16.5 66.4 54

 55 FA313190005 Miscellaneous liabilities -408.3 -199.7 -309.7 -271.9 -25.0 -192.1 62.4 -223.6 114.2 55

 56 FA343073045 Claims of pension fund on sponsor -94.8 -163.3 -125.1 -194.4 -17.6 -316.2 68.0 -259.4 31.4 56

 57 FA313172003 PPP subsidies payable -332.6 -97.1 -208.5 -112.7 -52.1 -15.2 -6.7 -3.2 -2.0 57

 58 FA313190015 Other 19.2 60.8 23.9 35.3 44.7 139.3 1.1 39.0 84.7 58

 59 FA317005005 Discrepancy -214.2 78.2 152.5 -677.4 633.7 204.1 215.7 709.5 128.3 59

 Memo:

 60 FA314000105 Change in cash balance (6) -1321.5 39.7 1017.8 739.4 -864.8 -733.7 -1062.6 1170.5 687.5 60

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

(2) Table F.5, line 64 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) Includes marketable and nonmarketable Treasury securities held by the public and Treasury securities held by federal government employee retirement funds.

(6) Time and savings deposits (line 28) plus checkable deposits and currency at the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
Transactions

22 Z.1, December 7, 2023

F.107 State and Local Governments

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA216010105 Current receipts, NIPA basis 3577.9 3662.4 3655.1 3679.8 3643.9 3670.9 3670.3 3584.3 3609.1 1

 2 FA216210001 Personal current taxes 594.0 632.9 655.9 655.1 615.2 605.6 582.7 528.8 597.6 2

 3 FA216240001 Taxes on production and imports 1493.3 1616.0 1583.1 1609.6 1631.8 1639.6 1654.1 1646.2 1662.2 3

 4 FA216231001 Taxes on corporate income 110.9 158.6 184.2 143.5 146.2 160.5 172.5 150.7 146.6 4

 5 FA216601001 Contributions for govt. social insurance 22.2 22.5 22.9 22.6 22.4 22.0 21.5 21.4 21.9 5

 6 FA216150105 Income receipts on assets 93.8 97.6 96.0 96.8 98.0 99.5 99.8 100.6 99.9 6

 7 FA216403105 Current transfer receipts 1277.0 1138.0 1112.9 1152.1 1133.3 1153.6 1154.7 1154.8 1100.1 7

 8 FA216402101 Current surplus of government enterprises -13.3 -3.2 0.0 0.0 -2.9 -9.9 -14.9 -18.0 -19.1 8

 9 FA216900005 Current expenditures, NIPA basis 3334.6 3602.1 3477.7 3585.8 3623.5 3721.3 3733.7 3769.0 3803.4 9

 10 FA216901001 Consumption expenditures 2149.9 2341.1 2266.9 2347.7 2363.2 2386.5 2399.1 2388.3 2444.4 10

 11 FA216404001 Govt. social benefit payments to persons 900.7 1012.3 960.5 995.3 1015.5 1078.2 1055.7 1087.5 1059.6 11

 12 FA216403001 Other current transfer payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA216130001 Interest payments 280.9 248.0 249.6 242.2 244.2 255.9 278.2 292.5 298.6 13

 14 FA216402001 Subsidies 3.1 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 14

 15 FA216006005 Net saving, NIPA basis 243.4 60.4 177.4 93.9 20.4 -50.4 -63.4 -184.7 -194.2 15

 16 FA216300001 + Consumption of fixed capital 333.0 371.5 356.8 368.7 377.4 383.1 389.7 391.7 394.4 16

 17 FA215440005 - Net capital transfers paid (1) -82.9 -229.8 -82.4 -539.4 -154.1 -143.2 -89.0 -95.7 -99.8 17

 18 FA216000105 = Gross saving less net capital transfers paid 659.3 661.6 616.7 1002.0 551.9 475.9 415.4 302.6 299.9 18

 19 FA215090005 Gross investment 676.0 630.7 598.7 918.9 482.7 522.3 392.4 335.9 409.2 19

 20 FA215019001 Fixed investment 448.8 470.2 452.8 455.7 478.4 494.1 514.2 537.2 556.5 20

 21 FA215420003 Nonproduced nonfinancial assets 18.3 19.1 18.8 19.0 19.2 19.3 19.5 19.7 19.8 21

 22 FA215000005 Net lending (+) or net borrowing (-) 208.9 141.4 127.1 444.2 -14.8 8.9 -141.3 -220.9 -167.1 22

 23 FA214090005 Net acquisition of financial assets 588.7 396.6 353.3 804.2 277.0 151.7 207.0 178.1 132.7 23

 24 FA213020005 Checkable deposits and currency 115.9 14.6 25.2 53.3 -16.2 -3.7 0.3 -11.5 7.2 24

 25 FA213030000 Time and savings deposits -30.8 -12.4 5.4 -69.5 -12.4 26.9 3.9 45.7 -28.7 25

 26 FA213034003 Money market fund shares 15.3 9.8 2.6 7.1 10.4 19.1 24.8 11.8 13.3 26

 27 FA212051003 Security repurchase agreements 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 27

 28 FA214022005 Debt securities 332.4 336.3 270.1 734.1 241.2 99.9 218.6 159.1 146.8 28

 29 FA213069103 Open market paper 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 29

 30 FA213061105 Treasury securities 383.9 300.1 244.7 681.5 190.3 83.8 189.4 134.2 124.5 30

 31 FA213061703 Agency- and GSE-backed securities -39.8 36.3 41.8 48.7 47.3 7.2 13.7 6.3 -2.9 31

 32 FA213062003 Municipal securities 3.8 6.4 5.5 6.0 6.7 7.4 8.1 8.8 9.5 32

 33 FA213063003 Corporate and foreign bonds -19.5 -10.5 -26.0 -6.1 -7.2 -2.6 3.5 5.8 11.8 33

 34 FA213065005 Loans (mortgages) 7.7 7.7 7.7 7.7 7.6 7.7 7.8 7.9 8.1 34

 35 FA213064103 Corporate equities -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 35

 36 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 36

 37 FA213070003 Trade receivables 46.0 20.4 28.1 44.2 4.0 5.3 -32.3 7.6 33.4 37

 38 FA213078005 Taxes receivable 29.4 11.5 7.9 10.6 12.7 14.7 2.3 7.1 8.4 38

 39 FA213093003 Miscellaneous assets 65.1 0.9 -1.5 9.0 22.0 -26.0 -26.3 -57.4 -63.8 39

 40 FA214190005 Net increase in liabilities 379.8 255.2 226.2 360.0 291.8 142.8 348.3 399.1 299.8 40

 41 FA213162005 Debt securities (municipal securities) 69.1 -52.4 -78.1 52.7 -16.6 -167.5 38.0 89.0 -11.4 41

 42 FA213162400 Short-term (2) -13.7 -7.5 -21.7 -2.7 3.0 -8.4 -1.7 7.1 10.8 42

 43 FA213162200 Long-term 82.8 -44.9 -56.4 55.4 -19.6 -159.1 39.7 81.9 -22.2 43

 44 FA213169203 Loans (U.S. government loans) 0.5 0.7 0.5 0.4 0.6 1.5 1.1 0.8 0.0 44

 45 FA213170003 Trade payables 57.5 64.9 61.8 64.9 65.9 66.8 67.1 67.3 69.2 45

 46 FA223073045 Claims of pension fund on sponsor (3) 252.8 242.0 242.0 242.0 242.0 242.0 242.0 242.0 242.0 46

 47 FA217005005 Discrepancy -16.7 31.0 18.0 83.1 69.2 -46.4 23.0 -33.3 -109.3 47

(1) Table F.5, line 65.

(2) Debt with original maturity of 13 months or less.

(3) Included in miscellaneous liabilities.
Transactions

Z.1, December 7, 2023 23

F.108 Domestic Financial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA796000105 Gross saving less net capital transfers paid 312.8 375.8 452.3 416.4 295.9 338.7 359.6 299.7 326.4 1

 2 FA795090005 Gross investment 727.2 760.6 1161.7 1059.7 816.8 4.3 763.7 481.7 575.3 2

 3 FA795013005 Capital expenditures 307.1 337.2 323.5 333.0 342.7 349.4 358.8 370.1 369.8 3

 4 FA795013005 Fixed nonresidential investment 307.1 337.2 323.5 333.0 342.7 349.4 358.8 370.1 369.8 4

 5 FA795000005 Net lending (+) or net borrowing (-) 420.2 423.5 838.2 726.6 474.1 -345.1 404.8 111.5 205.5 5

 6 FA794090005 Net acquisition of financial assets 7294.9 2410.5 6778.9 567.1 2412.5 -116.6 10061.9 -149.6 755.5 6

 7 FA713011005 U.S. official reserve assets -0.1 0.0 0.0 0.1 -0.1 0.1 0.0 0.2 0.2 7

 8 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA713012003 Treasury currency 0.4 0.5 -0.0 0.7 0.7 0.7 0.7 0.7 2.8 9

 10 FA793091005 Foreign deposits -2.2 -7.7 15.4 -56.4 16.5 -6.3 11.0 7.2 42.5 10

 11 FA794010005 Net interbank assets 609.3 -967.4 -180.5 -2569.4 -340.9 -778.8 3247.5 -720.6 -263.6 11

 12 FA793020005 Checkable deposits and currency 58.1 -47.9 -83.1 -69.8 -102.2 63.7 -60.2 -30.0 -188.0 12

 13 FA793030005 Time and savings deposits -129.9 117.2 -129.2 170.2 173.5 254.2 192.1 30.5 14.6 13

 14 FA793034005 Money market fund shares 181.5 -220.2 -146.8 -336.9 -153.9 -243.3 327.4 154.6 57.1 14

 15 FA792050005 Federal funds and security repos 1122.0 765.5 0.9 804.3 951.8 1305.2 3118.1 -950.7 -1583.9 15

 16 FA794022005 Debt securities 3157.0 294.5 2877.7 63.7 -257.7 -1505.9 -878.9 2400.8 1533.6 16

 17 FA793069175 Open market paper 15.9 145.6 -10.4 266.6 220.3 105.9 -311.2 -13.3 250.1 17

 18 FA793061105 Treasury securities 1335.7 -345.3 1012.2 -45.8 -1144.6 -1203.1 -1754.4 2430.4 1675.8 18

 19 FA793061705 Agency- and GSE-backed securities 680.5 72.7 736.4 -156.1 -119.0 -170.5 860.3 -282.9 -590.8 19

 20 FA793062005 Municipal securities 174.9 -94.2 50.7 -93.7 -49.3 -284.6 -93.4 -38.2 -42.9 20

 21 FA793063005 Corporate and foreign bonds 950.1 515.7 1088.9 92.6 835.0 46.4 419.8 304.9 241.4 21

 22 FA794023005 Loans 1758.0 2474.9 2724.5 3036.0 2460.8 1678.0 2981.0 -1094.2 601.5 22

 23 FA793068005 Depository institution loans n.e.c. 128.1 473.6 263.2 847.2 348.3 435.5 109.8 -19.0 -8.0 23

 24 FA793069005 Other loans and advances 222.3 413.8 642.8 232.4 616.1 163.8 2016.3 -1853.7 -101.0 24

 25 FA793065005 Mortgages 1223.1 1289.6 1505.8 1575.6 1237.8 839.4 664.8 604.5 545.6 25

 26 FA793066005 Consumer credit 184.5 297.9 312.8 380.9 258.7 239.4 190.1 174.1 164.8 26

 27 FA793092305 U.S. direct investment abroad: intercompany debt -11.3 -14.8 -25.1 8.1 -44.6 2.6 26.3 -12.8 37.3 27

 28 FA793064105 Corporate equities -80.4 -192.8 174.2 -347.1 -98.7 -499.8 -470.3 155.4 -384.9 28

 29 FA793081115 Other equity 175.5 65.8 16.0 -0.6 162.5 85.4 287.7 9.6 206.6 29

 30 FA793064205 Mutual fund shares -381.5 -146.8 -111.4 -174.2 -130.2 -171.5 50.2 -276.6 -228.6 30

 31 FA793040005 Life insurance reserves 39.5 4.9 6.9 6.0 7.2 -0.6 22.8 -2.7 7.8 31

 32 FA543050005 Pension entitlements 88.5 104.5 104.5 104.5 104.5 104.5 47.6 19.0 97.5 32

 33 FA793070005 Trade receivables 35.8 26.2 41.4 40.6 -1.9 24.6 51.7 44.1 55.2 33

 34 FA793090005 Miscellaneous assets 674.8 154.0 1493.3 -112.8 -334.9 -429.5 1107.1 115.7 747.8 34

 35 FA794194005 Net increase in liabilities and equity 6874.8 1987.0 5940.6 -159.5 1938.4 228.5 9657.1 -261.1 550.0 35

 36 FA794190005 Net increase in liabilities 6021.6 1430.9 5521.0 -646.4 1434.7 -585.5 9129.8 -684.2 77.5 36

 37 FA794110005 Net interbank liabilities 697.3 -797.5 448.5 -3039.9 109.6 -708.3 4102.5 -1317.3 -284.2 37

 38 FA793120005 Checkable deposits and currency 231.3 415.9 1991.1 1695.2 -496.7 -1526.0 -1131.5 930.1 70.5 38

 39 FA703130005 Time and savings deposits 758.2 -617.3 348.1 -1403.4 -1170.5 -243.4 -1597.9 542.4 222.3 39

 40 FA634090005 Money market fund shares 439.5 17.6 -157.6 -79.7 8.2 299.6 2181.5 1043.6 706.3 40

 41 FA792150005 Federal funds and security repos 1732.9 720.3 -337.5 1768.0 810.8 639.8 1745.0 -1286.0 -1958.3 41

 42 FA794122005 Debt securities 719.9 1274.9 1621.6 1090.7 790.9 1596.5 1538.3 -258.2 -12.9 42

 43 FA793169175 Open market paper -83.8 206.4 400.9 143.2 77.1 204.6 -108.8 54.9 225.6 43

 44 FA423161705 Agency- and GSE-backed securities 612.9 979.4 1040.9 948.5 1050.8 877.3 1571.3 -395.6 -216.2 44

 45 FA793163005 Corporate and foreign bonds 190.7 89.1 179.8 -0.9 -337.1 514.6 75.9 82.5 -22.3 45

 46 FA794123005 Loans 145.5 348.0 660.2 99.6 278.9 353.5 828.3 -973.9 -507.5 46

 47 FA793168005 Depository institution loans n.e.c. 36.7 -54.2 -208.9 -23.5 -5.0 20.7 -64.3 -24.7 26.0 47

 48 FA793169005 Other loans and advances 108.8 402.2 869.1 123.2 283.9 332.7 892.6 -949.2 -533.5 48

 49 FA793192305 Foreign direct investment: intercompany debt 0.8 -41.2 -20.6 -51.5 -35.2 -57.4 -1.2 15.7 24.3 49

 50 FA653164205 Mutual fund shares 216.4 -800.0 -443.9 -1152.8 -589.6 -1013.7 -147.9 -324.6 -308.5 50

 51 FA543140005 Life insurance reserves 48.0 72.1 76.9 84.5 81.9 45.1 82.7 69.2 14.6 51

 52 FA583150005 Pension entitlements 275.0 535.8 569.0 529.0 577.7 467.6 626.9 584.1 413.3 52

 53 FA793170005 Trade payables 89.7 29.0 29.4 20.7 32.7 33.2 25.8 50.8 49.7 53

 54 FA793178005 Taxes payable -10.4 -75.9 -205.9 -68.4 -76.4 47.0 34.0 -21.8 0.8 54

 55 FA793190005 Miscellaneous liabilities 677.5 349.2 941.9 -138.3 1112.5 -519.0 843.2 261.7 1647.4 55

 56 FA793181105 Net equity issues 853.1 556.1 419.6 486.9 503.7 814.1 527.3 423.1 472.5 56

 57 FA793164105 Corporate equities 811.3 506.9 527.0 486.7 339.1 674.9 285.1 484.7 366.3 57

 58 FA793181115 Other equity 41.9 49.1 -107.4 0.1 164.6 139.2 242.2 -61.6 106.2 58

 59 FA797005005 Discrepancy -414.5 -384.8 -709.5 -643.3 -520.9 334.4 -404.0 -182.0 -248.9 59

(1) Sum of financial sectors shown on tables F.109 through F.132.
Transactions

24 Z.1, December 7, 2023

F.109 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA716000105 Gross saving -0.2 -20.8 0.9 10.4 -10.3 -84.3 -84.3 -84.3 -84.2 1

 2 FA715013005 Fixed nonresidential investment 1.1 1.2 1.2 1.2 1.2 1.3 1.3 1.3 1.3 2

 3 FA714090005 Net acquisition of financial assets 1479.7 -199.8 714.2 -169.1 -526.6 -817.6 299.4 -1297.5 -1204.0 3

 4 FA713011005 U.S. official reserve assets -0.1 0.0 0.0 0.1 -0.1 0.1 0.0 0.2 0.2 4

 5 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA713012003 Treasury currency 0.4 0.5 -0.0 0.7 0.7 0.7 0.7 0.7 2.8 6

 7 FA713022003 Federal Reserve float -0.0 0.0 -0.4 -0.4 1.6 -0.7 0.7 0.2 -0.1 7

 8 FA713068705 Interbank loans -31.3 -4.2 -17.9 3.1 8.6 -10.6 1234.6 -167.5 -320.8 8

 9 FA713068703 Discount window (2) -1.0 4.7 0.1 7.4 19.1 -7.7 260.3 -264.2 -0.5 9

 10 FA763069143 AMLF and MMLF loans (3) -2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA713068725 PPPLF loans (4) -28.3 -8.9 -18.0 -4.3 -10.5 -2.9 -4.5 0.6 -4.3 11

 12 FA713068763 Bank Term Funding Program loans 0.0 0.0 0.0 0.0 0.0 0.0 258.4 149.1 23.8 12

 13 FA713068753 Other credit extensions 0.0 0.0 0.0 0.0 0.0 0.0 720.4 -53.1 -339.8 13

 14 FA712051000 Security repurchase agreements -1.0 0.0 0.0 0.0 0.0 0.0 180.0 -176.0 -4.0 14

 15 FA714022005 Debt securities 1537.1 -175.9 782.3 -150.0 -523.0 -812.7 -1101.9 -953.0 -880.8 15

 16 FA713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA713061103 Treasury securities 961.6 -188.2 400.2 -107.5 -467.6 -577.9 -908.1 -720.2 -640.2 17

 18 FA713061113 Treasury bills 0.0 -39.4 -1.1 -2.9 -68.4 -85.2 -34.8 -46.9 -120.4 18

 19 FA713061125 Other Treasury securities 961.5 -148.8 401.3 -104.7 -399.2 -492.7 -873.3 -673.3 -519.8 19

 20 FA713061705 Agency- and GSE-backed securities 575.5 12.3 382.0 -42.5 -55.5 -234.9 -193.9 -232.8 -240.6 20

 21 FA713061903 Mortgage-backed securities 575.6 12.3 382.1 -42.5 -55.5 -234.9 -193.9 -232.8 -240.6 21

 22 FA713061703 Other agency- and GSE-baked securities -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 22

 23 FA713068005 Loans (depository institution loans n.e.c.) -10.1 -19.2 -32.3 -22.6 -9.3 -12.6 -8.2 -12.6 -9.7 23

 24 FA713068813 Households (TALF I) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FA713068665 Brokers and dealers (6) -2.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FA713068863 Finance companies (PPPLF) (4) 11.7 -13.5 -23.4 -18.1 -5.3 -7.1 -4.7 -8.4 -4.6 26

 27 FA713068505 Other financial business (7) -19.6 -5.7 -8.9 -4.5 -4.0 -5.5 -3.6 -4.3 -5.1 27

 28 FA713064103 Corporate equities (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FA713090005 Miscellaneous assets -15.3 -1.1 -17.5 0.1 -5.1 18.3 -6.4 10.6 8.4 29

 30 FA713091103 Nonofficial foreign currencies (9) -14.5 -2.9 -11.9 -0.1 -0.2 0.4 0.7 -1.5 0.0 30

 31 FA713093005 Other -0.8 1.9 -5.6 0.2 -4.9 17.8 -7.1 12.1 8.4 31

 32 FA714194005 Net increase in liabilities and equity 1479.7 -199.7 717.1 -171.1 -526.5 -818.2 299.4 -1297.5 -1204.1 32

 33 FA714190005 Net increase in liabilities 1479.7 -200.8 715.4 -173.5 -527.1 -818.0 297.8 -1298.4 -1205.4 33

 34 FA713113003 Depository institution reserves 649.3 -959.5 -187.5 -2568.0 -322.4 -759.9 1995.7 -547.4 79.1 34

 35 FA703025005 Vault cash of depository institutions -8.7 -3.8 25.3 -4.1 -28.7 -7.6 16.5 -5.7 -21.8 35

 36 FA713120005 Checkable deposits and currency -1128.2 79.1 1213.7 702.0 -905.7 -693.7 -989.4 1153.7 553.8 36

 37 FA713123005 Due to federal government -1322.4 40.6 1017.3 742.0 -865.8 -731.2 -1079.4 1171.5 685.2 37

 38 FA713123023 Treasury cash holdings 0.0 0.0 0.0 0.1 0.0 -0.0 0.3 0.3 0.4 38

 39 FA713123030 Treasury general deposit account -1322.5 40.6 1017.3 741.9 -865.8 -731.1 -1079.7 1171.2 684.8 39

 40 FA713123043 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 FA713124005 Due to government-sponsored enterprises -17.1 -11.9 -16.6 -15.4 -22.4 6.9 19.1 -17.4 9.5 41

 42 FA713129005 Due to other financial business (10) 67.6 -25.4 77.9 -82.7 -59.7 -37.0 -17.3 -91.3 -97.3 42

 43 FA713122605 Due to rest of the world -12.5 -0.4 -7.4 -0.1 -0.1 6.0 3.0 0.1 -0.1 43

 44 FA713125005 Currency outside banks 156.2 76.1 142.5 58.2 42.3 61.6 85.1 90.7 -43.6 44

 45 FA712151003 Security repurchase agreements 1967.0 706.5 -248.2 1921.0 476.8 676.5 -587.6 -1495.0 -2021.9 45

 46 FA712151103 Reverse repurchase agreement operations (11) 1894.9 649.1 -130.4 1831.1 384.7 511.2 -714.2 -1363.4 -1907.0 46

 47 FA712151115 Other (12) 72.1 57.4 -117.8 89.9 92.2 165.3 126.6 -131.6 -114.9 47

 48 FA713193005 Miscellaneous liabilities 0.3 -23.2 -88.0 -224.3 252.8 -33.3 -137.5 -403.9 205.5 48

 49 FA713164005 Net equity issues 0.0 1.1 1.8 2.4 0.6 -0.2 1.6 0.9 1.3 49

 50 FA313094213 Treasury contributions to MMLF -1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

 51 FA713164003 Federal Reserve Bank stock 1.5 1.1 1.8 2.4 0.6 -0.2 1.6 0.9 1.3 51

 52 FA717005005 Discrepancy -1.3 -21.9 2.7 7.2 -11.4 -86.2 -85.6 -85.6 -85.6 52

(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) Loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(3) Loans extended to U.S.-chartered depository institutions through the 2008-2010 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) and the

 2020 Money Market Mutual Fund Liquidity Facility (MMLF). The AMLF was dissolved in 2010:Q1.

(4) Loans extended to depository institutions (line 11) and finance companies (line 26) through the Paycheck Protection Program Liquidity Facility (PPPLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the 2008 Term Asset-Backed Securities Loan Facility (TALF I).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF), AMLF (2008-2010), and MMLF (2020).

(7) Loans extended to Federal Reserve funding, credit, and liquidity facility special purpose vehicles created in response to the 2008 Financial Crisis and COVID-19 pandemic.

(8) 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. Series is zero after 2010:Q4.

(9) Reciprocal currency arrangements (swap lines) with foreign central banks.

(10) Deposits of designated financial market utilities (DFMU) and deposits of Federal Reserve facility LLC’s special purpose vehicles.

(11) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(12) Includes reverse repurchase agreements conducted through the Federal Reserve’s Foreign Repo Pool.
Transactions

Z.1, December 7, 2023 25

F.110 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA706000105 Gross saving less net capital transfers paid 61.8 86.2 67.5 84.8 90.5 102.1 144.3 75.6 101.1 1

 2 FA705013005 Fixed nonresidential investment 79.8 89.6 85.0 87.8 90.6 94.9 98.7 107.1 105.2 2

 3 FA705000005 Net lending (+) or net borrowing (-) 229.1 199.9 204.1 606.8 452.9 -464.1 158.5 14.1 130.2 3

 4 FA704090005 Net acquisition of financial assets 2371.7 655.9 2445.0 -262.5 840.5 -399.2 2214.0 -838.2 39.6 4

 5 FA703025005 Vault cash -8.7 -3.8 25.3 -4.1 -28.7 -7.6 16.5 -5.7 -21.8 5

 6 FA713113003 Reserves at Federal Reserve 649.3 -959.5 -187.5 -2568.0 -322.4 -759.9 1995.7 -547.4 79.1 6

 7 FA702050005 Federal funds and security repos -268.9 2.6 -50.9 -41.0 157.5 -55.3 260.5 -143.8 -78.9 7

 8 FA704022005 Debt securities 1336.9 -11.3 1085.4 -1.7 -532.5 -596.5 -634.6 -430.2 -544.3 8

 9 FA703069175 Open market paper -2.1 -0.2 0.8 -0.4 -1.2 0.0 -0.2 -0.1 0.0 9

 10 FA703061105 Treasury securities 467.4 58.8 370.4 267.3 -231.2 -171.3 -361.7 -165.4 -30.8 10

 11 FA703061705 Agency- and GSE-backed securities 605.9 -229.9 245.6 -342.7 -411.0 -411.7 -171.4 -196.5 -345.3 11

 12 FA703062005 Municipal securities 55.3 4.8 55.6 54.0 -7.7 -82.5 -71.7 -67.2 -41.2 12

 13 FA703063005 Corporate and foreign bonds 210.3 155.2 413.0 20.1 118.5 69.0 -29.6 -1.0 -127.0 13

 14 FA704023005 Loans 519.7 1422.0 987.0 2101.4 1377.1 1222.7 658.3 322.4 371.4 14

 15 FA703068005 Depository institution loans n.e.c. 138.1 492.8 295.5 869.9 357.6 448.1 118.1 -6.4 1.7 15

 16 FA703069005 Other loans and advances 1.9 -3.2 -16.7 0.2 -2.2 5.7 12.7 1.4 3.8 16

 17 FA703065005 Mortgages 212.6 623.8 376.8 821.8 756.6 539.9 359.1 229.7 255.8 17

 18 FA703066005 Consumer credit 167.1 308.7 331.4 409.5 265.0 229.0 168.4 97.7 110.0 18

 19 FA763092305 U.S. direct investment abroad: intercompany debt -2.6 -3.6 -5.5 1.3 -9.4 -0.7 7.0 -3.4 7.1 19

 20 FA703064105 Corporate equities 2.4 -1.9 2.3 -7.8 -0.9 -1.2 -1.3 5.2 4.7 20

 21 FA763092100 U.S. direct investment abroad: equity 11.1 15.6 23.0 -0.5 30.0 9.9 -6.3 19.8 -3.2 21

 22 FA703094905 Miscellaneous other equity -1.9 21.4 4.1 29.9 23.3 28.2 40.4 -24.7 -9.5 22

 23 FA703064205 Mutual fund shares 3.6 -3.8 -0.4 -4.9 4.0 -13.7 -3.4 1.3 -2.2 23

 24 FA763040005 Life insurance reserves 13.3 6.5 8.6 7.7 8.8 1.1 5.3 -14.9 -0.7 24

 25 FA703090005 Miscellaneous assets 117.5 171.6 553.6 225.2 133.6 -226.1 -124.0 -16.8 238.0 25

 26 FA704194005 Net increase in liabilities and equity 2142.7 456.0 2240.9 -869.3 387.6 64.8 2055.5 -852.4 -90.6 26

 27 FA704190005 Net increase in liabilities 2002.4 567.0 2434.2 -524.1 531.8 -173.8 1805.1 -902.7 -186.8 27

 28 FA704110005 Net interbank liabilities 56.7 165.7 610.6 -467.8 460.7 59.3 2090.3 -764.1 -341.5 28

 29 FA703127005 Checkable deposits 1359.4 336.8 777.3 993.2 409.0 -832.3 -142.1 -223.6 -483.3 29

 30 FA703130005 Time and savings deposits 758.2 -617.3 348.1 -1403.4 -1170.5 -243.4 -1597.9 542.4 222.3 30

 31 FA702150005 Federal funds and security repos -27.4 -38.9 126.6 -175.7 -26.3 -80.1 686.6 78.4 -59.7 31

 32 FA704122005 Debt securities -136.6 212.1 240.6 245.2 29.6 333.0 -163.3 165.9 145.8 32

 33 FA703169175 Open market paper -71.8 134.1 167.2 163.0 17.8 188.6 -69.7 106.3 94.3 33

 34 FA763163005 Corporate bonds -64.8 77.9 73.4 82.2 11.8 144.3 -93.6 59.6 51.5 34

 35 FA703169005 Loans (other loans and advances) -78.3 465.1 240.4 413.7 569.8 636.6 986.7 -877.6 -195.8 35

 36 FA753192305 Foreign direct investment: intercompany debt -2.4 -0.2 -1.2 -1.6 1.7 0.4 -1.0 1.8 1.1 36

 37 FA763178000 Taxes payable (net) -8.9 -73.7 -206.2 -59.2 -72.9 43.5 30.7 -12.9 -6.9 37

 38 FA703190005 Miscellaneous liabilities 81.6 117.4 298.0 -68.5 330.7 -90.7 -84.8 187.1 531.2 38

 39 FA763194705 Other investment by holding company parent 24.0 -4.6 -59.6 24.0 -10.0 27.4 7.5 56.5 123.9 39

 40 FA703193005 Other 57.6 121.9 357.6 -92.4 340.7 -118.0 -92.3 130.6 407.4 40

 41 FA703181105 Net equity issues 140.3 -111.0 -193.3 -345.1 -144.2 238.6 250.4 50.3 96.2 41

 42 FA763164103 Corporate equities 2.3 17.3 -26.6 9.0 3.9 82.9 -41.0 0.5 3.7 42

 43 FA753192103 Foreign direct investment: equity -2.0 10.4 -0.1 7.2 12.2 22.3 14.0 25.1 20.1 43

 44 FA763194603 Equity investment by holding company parent 123.4 -139.6 -261.2 -254.8 -204.5 162.1 246.6 36.5 -20.8 44

 45 FA753194503 Investment by other financial business 16.6 0.9 94.7 -106.6 44.1 -28.7 30.9 -11.8 93.2 45

 46 FA707005005 Discrepancy -247.0 -203.3 -221.6 -609.8 -453.0 471.2 -112.9 -45.6 -134.2 46

 Memo:

 47 FA763066303 Consumer leases not included above (2) 0.1 -2.7 -1.7 -3.1 -3.0 -2.9 -2.2 -1.1 -0.8 47

 48 FA703139105 Uninsured deposits (3) 1062.1 -567.3 302.1 -872.2 -856.3 -842.9 -2672.6 -525.3 -113.1 48

(1) U.S.-chartered depository institutions (F.111), foreign banking offices (F.112), banks in U.S.-affiliated areas (F.113), and credit unions (F.114).

(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 is included in line 1, and fixed investment is included in line 2.

(3) Includes checkable deposits (line 29) and time and savings deposits (line 30) not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
Transactions

26 Z.1, December 7, 2023

F.111 U.S.-Chartered Depository Institutions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA766000105 Gross saving less net capital transfers paid 42.8 49.1 40.6 46.1 49.6 60.3 102.0 33.1 58.4 1

 2 FA765013005 Fixed nonresidential investment 61.8 68.5 64.7 67.0 69.1 73.3 76.4 84.6 82.5 2

 3 FA764090005 Net acquisition of financial assets 1891.9 101.7 1111.5 -514.3 135.5 -325.8 1342.6 -739.3 -106.3 3

 4 FA763025000 Vault cash -8.8 -3.7 25.6 -4.1 -28.7 -7.6 16.5 -5.8 -21.8 4

 5 FA763013005 Reserves at Federal Reserve 388.6 -952.0 -914.1 -2088.8 -417.6 -387.3 1201.7 -324.2 156.7 5

 6 FA762050005 Federal funds and security repos -220.8 13.4 -76.0 -70.0 108.0 91.4 -24.7 -196.4 -15.1 6

 7 FA764022005 Debt securities 1240.1 -109.8 892.8 -195.4 -649.2 -487.4 -472.2 -465.2 -595.1 7

 8 FA763069175 Open market paper -2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA763061100 Treasury securities 449.0 8.8 273.5 174.0 -271.6 -140.6 -343.1 -208.3 -34.5 9

 10 FA763061705 Agency- and GSE-backed securities 535.1 -231.2 206.4 -369.7 -401.4 -360.0 -109.3 -183.0 -294.4 10

 11 FA763061805 Residential mortgage pass-through securities 379.9 -108.2 177.8 -253.9 -148.6 -208.1 116.2 -104.4 -188.7 11

 12 FA763061503 Commercial mortgage pass-through securities 28.2 -21.3 -8.8 32.4 -101.2 -7.6 -3.7 -9.4 -11.3 12

 13 FA763061603 Residential CMOs and other structured MBS 41.5 -28.7 -19.6 -37.6 -15.5 -42.0 -116.9 -39.0 -83.7 13

 14 FA763061403 Commercial CMOs and other structured MBS 43.9 -92.9 16.7 -138.4 -151.8 -98.2 -72.8 -13.5 -2.0 14

 15 FA763061795 Other 41.6 20.0 40.3 27.8 15.6 -3.9 -32.2 -16.7 -8.6 15

 16 FA763062000 Municipal securities 53.0 4.8 53.5 53.3 -7.3 -80.5 -71.6 -66.5 -45.0 16

 17 FA763063005 Corporate and foreign bonds 204.9 107.7 359.4 -53.0 31.0 93.6 51.8 -7.4 -221.2 17

 18 FA763063673 Private residential mortgage pass-through securities 1.1 -0.2 -2.4 -0.7 -0.1 2.6 -2.6 -2.1 -0.8 18

 19 FA763063653 Private commercial mortgage pass-through securities 0.4 0.2 1.1 -0.0 -0.3 -0.1 -0.3 -0.2 -0.1 19

 20 FA763063663 Private residential CMOs and other structured MBS 17.1 10.1 32.9 11.4 -0.5 -3.6 -2.8 -4.4 -5.2 20

 21 FA763063693 Private commercial CMOs and other structured MBS 13.2 3.9 17.9 6.8 3.6 -12.9 -2.2 -1.2 -6.3 21

 22 FA763063095 Other 173.0 93.8 309.9 -70.5 28.3 107.6 59.6 0.5 -208.9 22

 23 FA764023005 Loans 347.3 1001.6 668.7 1596.6 973.6 767.4 533.2 271.4 162.5 23

 24 FA763068005 Depository institution loans n.e.c. 58.7 282.1 138.8 632.9 204.1 152.7 103.4 28.6 -111.9 24

 25 FA763069005 Other loans and advances 1.9 -3.2 -16.7 0.2 -2.2 5.7 12.7 1.4 3.8 25

 26 FA763065005 Mortgages 146.5 518.6 296.3 692.8 627.3 458.2 302.6 170.4 193.0 26

 27 FA763066000 Consumer credit 140.2 204.1 250.3 270.7 144.4 150.9 114.6 71.1 77.6 27

 28 FA763092305 U.S. direct investment abroad: intercompany debt -2.6 -3.6 -5.5 1.3 -9.4 -0.7 7.0 -3.4 7.1 28

 29 FA763064103 Corporate equities 2.4 -1.9 2.3 -7.8 -0.9 -1.2 -1.3 5.2 4.7 29

 30 FA763092100 U.S. direct investment abroad: equity 11.1 15.6 23.0 -0.5 30.0 9.9 -6.3 19.8 -3.2 30

 31 FA763094905 Miscellaneous other equity -2.4 19.4 4.0 26.8 21.2 25.7 40.7 -24.2 -10.7 31

 32 FA763064203 Mutual fund shares 2.0 -2.3 -3.4 -1.9 8.2 -12.3 -1.7 2.0 -3.8 32

 33 FA763040005 Life insurance reserves 13.3 6.5 8.6 7.7 8.8 1.1 5.3 -14.9 -0.7 33

 34 FA763090005 Miscellaneous assets 121.6 118.5 485.4 222.0 91.4 -324.6 44.2 -3.8 213.1 34

 35 FA764194005 Net increase in liabilities and equity 1813.8 -98.3 900.6 -1051.3 -138.2 -104.3 1258.9 -855.7 -100.4 35

 36 FA764190005 Net increase in liabilities 1688.0 24.0 1188.4 -805.5 62.3 -349.3 1053.3 -892.7 -83.3 36

 37 FA764110005 Net interbank liabilities -48.0 -85.2 96.6 -477.2 158.7 -119.0 1372.0 -336.7 -29.6 37

 38 FA713022003 Federal Reserve float -0.0 0.0 -0.4 -0.4 1.6 -0.7 0.7 0.2 -0.1 38

 39 FA713068715 Borrowing from Federal Reserve banks -30.9 -4.2 -17.8 3.1 8.6 -10.6 1234.6 -167.5 -320.8 39

 40 FA764112005 To domestic banking 9.6 -12.6 233.4 -403.8 104.8 15.2 198.8 -269.4 66.8 40

 41 FA764116005 To foreign banks -26.6 -68.5 -118.6 -76.2 43.7 -123.0 -62.0 100.1 224.5 41

 42 FA763127005 Checkable deposits 1249.3 340.7 616.7 930.2 446.0 -630.1 -228.4 -217.3 -523.6 42

 43 FA763123005 Federal government -0.1 0.1 0.3 0.6 1.0 -1.7 15.8 -0.3 2.0 43

 44 FA763128000 State and local government 115.9 14.6 25.2 53.3 -16.2 -3.7 0.3 -11.5 7.2 44

 45 FA763129205 Private domestic 1113.0 325.5 552.6 954.6 394.8 -600.1 -264.2 -182.2 -530.5 45

 46 FA763122605 Rest of the world 20.6 0.5 38.6 -78.4 66.5 -24.6 19.6 -23.2 -2.3 46

 47 FA763130005 Time and savings deposits 631.5 -767.5 110.3 -1581.9 -1269.1 -329.2 -1429.3 468.5 229.1 47

 48 FA762150005 Federal funds and security repos -9.9 24.2 -19.8 50.1 32.8 33.8 417.1 -101.3 -40.6 48

 49 FA764122005 Debt securities -125.1 153.8 146.3 169.8 23.7 275.5 -166.6 121.9 109.4 49

 50 FA763169175 Open market paper -60.3 75.9 72.9 87.5 11.9 131.1 -73.0 62.4 57.9 50

 51 FA763163005 Corporate bonds -64.8 77.9 73.4 82.2 11.8 144.3 -93.6 59.6 51.5 51

 52 FA763169305 Loans (other loans and advances) -75.7 409.2 233.9 343.3 499.3 560.1 1022.6 -867.0 -213.0 52

 53 FA763178000 Taxes payable (net) -8.9 -73.7 -206.2 -59.2 -72.9 43.5 30.7 -12.9 -6.9 53

 54 FA763190005 Miscellaneous liabilities 74.9 22.5 210.6 -180.5 243.9 -183.8 35.3 52.1 391.8 54

 55 FA763194705 Other investment by holding company parents 24.0 -4.6 -59.6 24.0 -10.0 27.4 7.5 56.5 123.9 55

 56 FA763193005 Other 50.8 27.1 270.1 -204.5 253.9 -211.2 27.8 -4.5 267.9 56

 57 FA763181105 Net equity issues 125.7 -122.3 -287.8 -245.8 -200.5 245.0 205.5 37.0 -17.1 57

 58 FA763164103 Corporate equities 2.3 17.3 -26.6 9.0 3.9 82.9 -41.0 0.5 3.7 58

 59 FA763194603 Equity investment by holding company parents 123.4 -139.6 -261.2 -254.8 -204.5 162.1 246.6 36.5 -20.8 59

 60 FA767005005 Discrepancy -97.0 -219.4 -235.0 -557.9 -293.2 208.5 -58.2 -167.9 -18.2 60

 Memo:

 61 FA763066303 Consumer leases not included above (1) 0.1 -2.7 -1.7 -3.1 -3.0 -2.9 -2.2 -1.1 -0.8 61

 62 FA763139105 Uninsured deposits (2) 989.5 -660.7 12.3 -1073.7 -840.8 -740.7 -2531.3 -587.9 -130.3 62

(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; depreciation is included in line 1, and fixed investment is included in line 2.

(2) Includes checkable deposits (line 42) and time and savings deposits (line 47) not insured by the Federal Deposit Insurance Corporation.
Transactions

Z.1, December 7, 2023 27

F.112 Foreign Banking Offices in U.S. (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA756330005 Gross saving 7.6 8.9 8.5 8.8 9.0 9.2 9.4 9.5 9.6 1

 2 FA755013005 Fixed nonresidential investment 8.7 10.2 9.8 10.1 10.4 10.5 10.8 10.9 11.0 2

 3 FA754090005 Net acquisition of financial assets 251.3 411.4 1038.9 175.5 544.1 -113.0 698.4 -136.5 -7.9 3

 4 FA753025003 Vault cash 0.1 -0.1 -0.3 -0.0 0.0 0.0 -0.0 0.0 0.0 4

 5 FA753013003 Reserves at Federal Reserve 227.8 128.7 815.3 -220.8 213.2 -292.6 658.2 -183.1 -58.8 5

 6 FA752050005 Federal funds and security repos -47.8 -10.6 25.1 29.1 49.8 -146.4 285.3 52.5 -63.8 6

 7 FA754022005 Debt securities -12.5 58.4 59.1 122.2 97.9 -45.5 -100.1 54.9 -18.4 7

 8 FA753069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA753061103 Treasury securities -7.6 16.4 31.0 41.6 6.0 -13.2 1.3 32.9 -20.0 9

 10 FA753061703 Agency- and GSE-backed securities -5.7 -0.2 -6.9 17.7 5.2 -16.6 -26.3 13.8 -8.0 10

 11 FA753062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA753063005 Corporate and foreign bonds 0.8 42.2 34.9 62.9 86.7 -15.7 -75.1 8.3 9.7 12

 13 FA754023005 Loans 84.4 173.8 108.2 188.3 121.2 277.4 -8.7 -65.2 79.5 13

 14 FA753068005 Depository institution loans n.e.c. 74.3 158.3 92.9 169.1 107.6 263.6 -8.6 -72.9 88.9 14

 15 FA753069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA753065005 Mortgages 10.1 15.5 15.3 19.3 13.6 13.8 -0.1 7.7 -9.4 16

 17 FA753064103 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA753093005 Miscellaneous assets -0.7 61.1 31.5 56.7 62.1 94.2 -136.3 4.4 53.5 18

 19 FA754194005 Net increase in liabilities and equity 120.2 447.8 1108.6 142.2 410.0 130.3 592.9 -11.9 -96.1 19

 20 FA754190005 Net increase in liabilities 105.6 436.5 1014.1 241.6 353.6 136.7 548.0 -25.2 -209.4 20

 21 FA754110005 Net interbank liabilities 100.3 262.6 448.8 98.4 312.1 191.2 592.3 -383.0 -279.6 21

 22 FA754116005 To foreign banks 97.1 261.5 420.5 75.4 307.4 242.8 583.4 -372.6 -278.2 22

 23 FA754112005 To domestic banks 3.2 1.1 28.3 23.1 4.7 -51.6 8.9 -10.4 -1.3 23

 24 FA753127005 Checkable deposits 25.7 -12.6 102.0 77.6 -66.3 -163.4 42.3 30.2 61.2 24

 25 FA753130005 Time and savings deposits 4.2 104.2 181.1 108.1 45.9 81.7 -163.3 39.2 -56.1 25

 26 FA752150005 Federal funds and security repos -17.5 -63.3 146.3 -225.8 -59.2 -114.5 269.8 179.8 -19.1 26

 27 FA753169175 Debt securities (open market paper) -11.5 58.3 94.3 75.4 5.9 57.5 3.3 44.0 36.4 27

 28 FA753192305 Foreign direct investment: intercompany debt -2.4 -0.2 -1.2 -1.6 1.7 0.4 -1.0 1.8 1.1 28

 29 FA753193005 Miscellaneous liabilities 6.9 87.4 42.8 109.5 113.5 83.9 -195.4 62.9 46.6 29

 30 FA753181115 Net equity issues 14.6 11.3 94.5 -99.3 56.3 -6.4 44.9 13.4 113.3 30

 31 FA753192103 Foreign direct investment: equity -2.0 10.4 -0.1 7.2 12.2 22.3 14.0 25.1 20.1 31

 32 FA753194503 Investment by other financial business 16.6 0.9 94.7 -106.6 44.1 -28.7 30.9 -11.8 93.2 32

 33 FA757005005 Discrepancy -132.2 35.1 68.5 -34.6 -135.5 241.9 -106.9 123.2 -89.6 33

 Memo:

 34 FA753139105 Uninsured deposits (2) 29.9 91.6 283.1 185.7 -20.4 -81.7 -120.9 69.4 5.1 34

(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) All checkable deposits (line 24) and time and savings deposits (line 25) are considered uninsured according to the Federal Deposit Insurance Act.
Transactions

28 Z.1, December 7, 2023

F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA746330005 Gross saving 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 FA745013005 Fixed nonresidential investment 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 FA744090005 Net acquisition of financial assets 1.6 1.5 -12.4 9.4 33.5 -24.3 -5.5 7.6 96.4 3

 4 FA743013003 Reserves at Federal Reserve 7.2 -15.9 -34.4 -5.9 -27.7 4.3 2.1 11.0 -11.9 4

 5 FA744022003 Debt securities 7.9 10.5 13.1 22.1 22.9 -16.3 -8.4 1.1 83.2 5

 6 FA743061103 Treasury securities 6.5 7.0 4.7 17.2 19.7 -13.4 -4.7 1.2 2.1 6

 7 FA743061703 Agency- and GSE-backed securities 1.9 1.4 4.7 1.6 1.1 -1.7 -2.2 -0.4 0.9 7

 8 FA743062003 Municipal securities -0.0 -0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 0.0 8

 9 FA743063005 Corporate and foreign bonds -0.6 2.0 3.7 3.4 2.2 -1.2 -1.4 0.3 80.2 9

 10 FA744023003 Loans -4.4 1.7 0.0 1.5 3.8 1.5 -4.2 2.8 6.0 10

 11 FA743068005 Depository institution loans n.e.c. -2.9 1.4 0.4 1.5 2.2 1.4 -1.7 3.1 4.9 11

 12 FA743065103 One-to-four-family residential mortgages -1.5 -0.6 -1.2 -0.8 -0.4 0.1 -1.6 -0.0 0.6 12

 13 FA743065505 Commercial mortgages 0.0 0.9 0.8 0.7 2.0 -0.0 -0.9 -0.2 0.5 13

 14 FA743093005 Miscellaneous assets -9.1 5.3 8.8 -8.3 34.4 -13.8 5.1 -7.3 19.0 14

 15 FA744190005 Net increase in liabilities -0.0 -5.2 -23.5 0.8 21.3 -19.5 -0.5 4.1 89.6 15

 16 FA744110005 Net interbank liabilities 0.0 -0.0 -0.2 0.1 -5.6 5.6 0.0 0.5 -0.8 16

 17 FA743127003 Checkable deposits 7.3 -6.2 -25.1 5.8 10.3 -15.6 -4.1 4.1 -2.6 17

 18 FA743130003 Time and savings deposits -2.2 -2.0 -3.4 -4.9 11.0 -10.7 3.8 -2.6 3.2 18

 19 FA743193005 Miscellaneous liabilities -5.2 3.0 5.2 -0.1 5.6 1.1 -0.3 2.1 89.7 19

 20 FA747005005 Discrepancy -1.7 -6.8 -11.1 -8.6 -12.2 4.8 4.9 -3.5 -6.8 20

 Memo:

 21 FA743139105 Uninsured deposits (2) 8.4 -7.6 -23.2 5.8 2.9 -16.0 -1.5 12.1 -0.2 21

(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.

(2) Includes checkable deposits (line 17) and time and savings deposits (line 18) not insured by the Federal Deposit Insurance Corporation.

F.114 Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA476000105 Gross saving 11.2 28.0 18.2 29.8 31.6 32.4 32.7 32.8 32.9 1

 2 FA475013005 Fixed nonresidential investment 9.1 10.6 10.2 10.5 10.8 10.9 11.2 11.4 11.4 2

 3 FA474090005 Net acquisition of financial assets 226.9 141.3 307.1 66.8 127.4 63.9 178.5 29.9 57.4 3

 4 FA473013005 Reserves at Federal Reserve 25.8 -120.3 -54.3 -252.4 -90.3 -84.3 133.7 -51.1 -7.0 4

 5 FA472050053 Federal funds and security repos -0.3 -0.2 -0.1 -0.0 -0.3 -0.3 -0.1 0.0 -0.0 5

 6 FA474022005 Debt securities 101.5 29.6 120.4 49.4 -4.1 -47.2 -54.0 -21.0 -14.0 6

 7 FA473069153 Open market paper -0.1 -0.2 0.8 -0.4 -1.2 0.0 -0.2 -0.1 0.0 7

 8 FA473061105 Treasury securities 19.5 26.6 61.1 34.6 14.8 -4.0 -15.2 8.9 21.7 8

 9 FA473061705 Agency- and GSE-backed securities 74.6 -0.0 41.4 7.8 -15.9 -33.4 -33.6 -26.8 -43.8 9

 10 FA473062005 Municipal securities 2.3 0.1 2.0 0.6 -0.4 -2.0 -0.1 -0.8 3.8 10

 11 FA473063005 Corporate and foreign bonds 5.2 3.2 15.0 6.8 -1.4 -7.7 -4.8 -2.1 4.3 11

 12 FA474023000 Loans 92.3 245.0 210.1 315.0 278.6 176.4 138.0 113.4 123.3 12

 13 FA473068005 Depository institution loans n.e.c. 7.9 51.0 63.3 66.4 43.8 30.5 25.1 34.9 19.8 13

 14 FA473065100 One-to-four-family residential mortgages 57.5 89.3 65.6 109.8 114.2 67.8 59.1 51.9 71.1 14

 15 FA473066000 Consumer credit 26.9 104.7 81.1 138.8 120.6 78.1 53.8 26.6 32.4 15

 16 FA473092403 Equity in FHLB 0.4 2.0 0.1 3.1 2.1 2.5 -0.4 -0.5 1.2 16

 17 FA473064205 Mutual fund shares 1.6 -1.4 2.9 -3.0 -4.2 -1.4 -1.7 -0.8 1.6 17

 18 FA473093005 Miscellaneous assets 5.6 -13.4 27.9 -45.3 -54.3 18.2 -37.0 -10.1 -47.6 18

 19 FA474190005 Net increase in liabilities 208.8 111.7 255.2 39.0 94.5 58.3 204.3 11.1 16.3 19

 20 FA474110005 Net interbank liabilities 4.4 -11.6 65.5 -89.1 -4.5 -18.5 125.8 -44.9 -31.6 20

 21 FA473127003 Checkable deposits 77.1 14.8 83.8 -20.4 19.1 -23.1 48.1 -40.7 -18.3 21

 22 FA473130005 Time and savings deposits 124.8 48.0 60.1 75.4 41.7 14.8 -9.0 37.3 46.1 22

 23 FA472150053 Federal funds and security repos -0.0 0.2 0.0 0.0 0.0 0.6 -0.3 -0.1 0.0 23

 24 FA473169333 Loans (other loans and advances) -2.5 56.0 6.5 70.4 70.6 76.4 -35.9 -10.6 17.1 24

 25 FA473193005 Miscellaneous liabilities 5.0 4.5 39.4 2.7 -32.4 8.2 75.6 70.1 3.1 25

 26 FA477005005 Discrepancy -16.1 -12.2 -43.9 -8.6 -12.1 16.0 47.3 2.6 -19.7 26

 Memo:

 27 FA473139103 Uninsured deposits (1) 34.3 9.4 30.0 10.1 1.9 -4.4 -18.8 -18.9 12.3 27

(1) Includes checkable deposits (line 21) and time and savings deposits (line 22) not insured by the National Credit Union Share Insurance Fund.
Transactions

Z.1, December 7, 2023 29

F.115 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA516000105 Gross saving less net capital transfers paid (1) 48.5 66.9 94.4 82.7 -3.6 94.3 87.7 89.5 89.6 1

 2 FA515013005 Fixed nonresidential investment 37.9 42.2 40.6 41.7 43.0 43.4 44.5 44.9 45.3 2

 3 FA514090005 Net acquisition of financial assets 74.7 256.8 341.6 313.5 374.5 -2.4 181.3 73.1 133.9 3

 4 FA513020005 Checkable deposits and currency 22.5 -22.4 -76.6 -22.9 1.4 8.6 -22.3 10.0 -21.5 4

 5 FA513034005 Money market fund shares -3.2 11.4 -14.7 6.7 22.1 31.6 -2.8 21.6 -37.5 5

 6 FA512051005 Security repurchase agreements -0.0 0.1 -3.0 0.9 0.5 2.1 0.6 0.3 3.4 6

 7 FA514022005 Debt securities 71.0 80.1 32.2 82.3 105.4 100.4 78.4 48.4 218.0 7

 8 FA513069105 Open market paper -4.4 -0.2 -6.4 1.5 0.7 3.6 0.7 0.6 6.2 8

 9 FA513061105 Treasury securities 31.6 37.3 -66.3 45.7 59.6 110.3 24.4 25.0 134.2 9

 10 FA513061705 Agency- and GSE-backed securities -10.2 11.8 9.0 8.7 13.0 16.6 11.9 24.1 47.7 10

 11 FA513062005 Municipal securities -1.1 -7.7 10.9 1.1 -16.3 -26.6 -32.1 -28.8 -31.0 11

 12 FA513063005 Corporate and foreign bonds 55.1 38.9 85.1 25.4 48.4 -3.5 73.4 27.5 60.9 12

 13 FA513065505 Loans (commercial mortgages) 3.4 2.7 7.7 3.1 2.0 -1.8 0.4 5.2 0.5 13

 14 FA513092305 U.S. direct investment abroad: intercompany debt -2.0 -2.5 -4.4 1.6 -8.0 0.8 4.4 -2.2 4.6 14

 15 FA513064105 Corporate equities 2.6 38.5 146.6 11.8 35.0 -39.3 -61.3 -15.6 -31.4 15

 16 FA513092103 U.S. direct investment abroad: equity 16.9 11.9 14.7 2.5 19.0 11.4 9.0 29.9 22.6 16

 17 FA513092403 Equity in FHLB -0.2 -0.3 -0.3 -0.4 -0.3 -0.0 -0.2 0.0 -0.0 17

 18 FA513064205 Mutual fund shares -1.0 -0.6 1.8 -8.2 2.8 1.5 -5.8 -0.1 -1.3 18

 19 FA513070005 Trade receivables 22.6 26.3 53.4 40.2 -3.2 14.9 56.6 24.8 16.3 19

 20 FA513090005 Miscellaneous assets -58.1 111.3 184.1 196.0 197.8 -132.6 124.4 -49.1 -39.7 20

 21 FA513076005 Policy payables (2) 27.4 26.7 26.7 26.7 26.7 26.7 39.0 31.9 34.6 21

 22 FA513094703 Receivables due from holding company parents 0.4 0.8 -1.6 0.8 4.2 -0.1 -0.5 -1.9 -2.6 22

 23 FA513093005 Other -85.9 83.8 159.0 168.4 166.8 -159.2 85.9 -79.1 -71.8 23

 24 FA514194005 Net increase in liabilities and equity 157.0 136.4 216.5 114.2 227.6 -12.8 287.7 174.0 192.4 24

 25 FA514190005 Net increase in liabilities 159.2 137.3 221.5 117.8 221.5 -11.7 293.7 173.4 199.5 25

 26 FA512151003 Security repurchase agreements -0.1 0.1 -0.1 0.1 0.1 0.3 0.5 0.0 0.5 26

 27 FA513169333 Loans (other loans and advances) -3.0 -1.8 -2.7 -2.2 -2.6 0.4 -1.8 -1.4 -0.9 27

 28 FA513192305 Foreign direct investment: intercompany debt -0.7 0.2 -0.3 -0.6 2.0 -0.4 -0.9 0.9 -1.0 28

 29 FA513170005 Trade payables 19.0 15.1 15.1 15.1 15.1 15.1 12.9 10.6 11.5 29

 30 FA513178005 Taxes payable -0.2 0.2 4.0 -10.3 -2.0 9.2 0.6 -6.2 0.8 30

 31 FA513190005 Miscellaneous liabilities 144.3 123.4 205.5 115.6 208.9 -36.3 282.4 169.5 188.7 31

 32 FA513194703 Other investment by holding company parent -0.2 -0.3 -1.1 -0.0 0.0 0.0 0.2 -0.2 1.1 32

 33 FA513176005 Policy payables 111.2 120.0 75.0 157.4 188.6 59.1 168.1 137.5 149.4 33

 34 FA513193005 Other 33.2 3.7 131.5 -41.8 20.3 -95.4 114.1 32.1 38.2 34

 35 FA513181105 Net equity issues -2.2 -0.9 -5.0 -3.7 6.1 -1.1 -6.0 0.6 -7.1 35

 36 FA513164103 Corporate equity issues -9.7 -16.3 -17.0 -18.6 -17.1 -12.6 -13.2 -12.4 -10.5 36

 37 FA513192103 Foreign direct investment: equity 6.5 14.5 9.7 14.0 22.9 11.3 5.6 13.5 4.3 37

 38 FA513194603 Equity investment by holding company parent 1.1 0.9 2.3 1.0 0.3 0.2 1.6 -0.4 -0.9 38

 39 FA517005005 Discrepancy 92.9 -95.7 -71.3 -158.3 -193.5 40.5 149.6 145.5 102.9 39

 Memo:

 40 FA513200003 Securities lending (3) 2.4 0.1 2.0 2.2 -1.9 -1.8 0.1 -1.8 -0.7 40

 41 FA513176015 Direct reserve 94.1 104.6 59.5 142.0 173.1 43.6 142.2 116.3 126.3 41

 42 FA513176025 Reinsured to U.S. reinsurers 11.2 13.9 13.9 13.9 13.9 13.9 19.1 15.6 16.9 42

 43 FA263176005 Reinsured to non-U.S. reinsurers 16.2 12.8 12.8 12.8 12.8 12.8 19.9 16.3 17.7 43

 44 FA263076005 Reinsured from non-U.S. reinsurers 6.0 1.5 1.5 1.5 1.5 1.5 6.9 5.6 6.1 44

(1) Net capital transfers paid from table F.5, line 53.

(2) Policy payables due from reinsurers.

(3) Liability for securities lending collateral, included in line 32.
Transactions

30 Z.1, December 7, 2023

F.116 Life Insurance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA546000105 Gross saving less net capital transfers paid (2) -3.7 16.0 6.8 22.0 18.4 16.8 17.1 17.6 18.0 1

 2 FA545013005 Fixed nonresidential investment 33.9 38.1 36.8 37.8 38.8 39.2 40.1 40.5 40.8 2

 3 FA544090005 Net acquisition of financial assets 196.0 316.9 345.9 340.4 457.0 124.2 313.6 345.3 207.9 3

 4 FA543020005 Checkable deposits and currency -8.3 -3.8 -32.8 14.1 4.7 -1.4 13.3 63.0 -40.8 4

 5 FA543034005 Money market fund shares -2.3 10.1 3.8 22.5 7.4 6.9 10.4 32.9 -16.6 5

 6 FA542051075 Security repurchase agreements 1.6 -5.2 -7.5 -7.3 -1.4 -4.8 5.1 3.0 1.8 6

 7 FA544022005 Debt securities 171.2 177.7 216.0 136.6 229.6 128.6 229.6 123.0 114.2 7

 8 FA543069105 Open market paper 7.0 -15.8 -24.0 -26.7 -2.1 -10.5 0.6 3.4 6.7 8

 9 FA543061105 Treasury securities -2.6 -5.5 -17.2 -13.8 17.7 -8.9 0.5 22.3 6.0 9

 10 FA543061705 Agency- and GSE-backed securities -42.3 -16.3 -14.5 -27.0 7.0 -30.6 3.2 19.1 11.5 10

 11 FA543062005 Municipal securities 1.0 4.4 4.7 10.4 5.3 -3.0 -3.1 -10.0 -3.7 11

 12 FA543063005 Corporate and foreign bonds 208.0 210.9 266.9 193.7 201.6 181.6 228.4 88.2 93.6 12

 13 FA544023005 Loans 50.1 67.2 83.6 80.1 56.5 48.5 53.7 58.6 47.4 13

 14 FA543069005 Other loans and advances 3.9 1.0 -5.2 -0.5 11.8 -2.2 4.8 -1.0 4.4 14

 15 FA543065005 Mortgages 46.2 66.2 88.8 80.6 44.6 50.7 48.9 59.6 42.9 15

 16 FA543092375 U.S. direct investment abroad: intercompany debt -0.7 -0.2 -0.8 0.7 -1.1 0.5 0.4 -0.3 0.1 16

 17 FA543064105 Corporate equities -78.2 -2.2 16.0 25.1 -16.7 -33.1 -19.9 -13.7 -54.6 17

 18 FA543092173 U.S. direct investment abroad: equity 0.0 1.9 3.9 -4.5 4.3 3.7 24.0 2.6 20.4 18

 19 FA543092473 Equity in FHLB 1.3 -1.0 2.2 -2.2 -2.4 -1.7 -1.1 2.4 1.4 19

 20 FA543064205 Mutual fund shares -137.6 -87.8 -124.9 -105.2 -72.7 -48.6 -128.4 -111.8 -112.5 20

 21 FA543040005 Life insurance reserves 22.2 -5.6 -5.6 -5.6 -5.6 -5.6 13.5 8.2 4.5 21

 22 FA543050005 Pension entitlements 88.5 104.5 104.5 104.5 104.5 104.5 47.6 19.0 97.5 22

 23 FA543070005 Trade receivables 10.1 -3.9 -3.9 -4.0 -3.9 -3.9 3.7 12.7 35.3 23

 24 FA543090005 Miscellaneous assets 78.1 65.4 91.4 85.6 153.9 -69.4 61.7 145.8 109.7 24

 25 FA543094703 Balances due from holding company parents 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FA543077073 Deferred and unpaid life ins. premiums 1.5 -1.5 7.0 -3.2 0.1 -9.8 4.1 0.1 2.8 26

 27 FA543095105 Other reserves 4.1 -4.9 -4.9 -4.9 -4.9 -4.9 2.9 2.3 1.6 27

 28 FA543093005 Other 72.5 71.7 89.2 93.7 158.7 -54.8 54.7 143.3 105.4 28

 29 FA544194005 Net increase in liabilities and equity 125.6 215.2 234.6 215.4 398.3 12.4 357.8 317.0 166.4 29

 30 FA544190005 Net increase in liabilities 149.5 239.3 263.0 256.3 421.0 16.8 371.9 333.0 183.4 30

 31 FA542151073 Security repurchase agreements 1.5 15.4 11.3 5.8 30.1 14.5 -6.9 17.3 10.4 31

 32 FA543169373 Loans (other loans and advances) 6.8 21.7 44.7 29.0 12.3 0.7 26.4 -13.9 11.0 32

 33 FA543192375 Foreign direct investment: intercompany debt -0.8 -4.7 -4.7 -6.9 -3.6 -3.8 -0.1 0.8 4.5 33

 34 FA543140005 Life insurance reserves 48.0 72.1 76.9 84.5 81.9 45.1 82.7 69.2 14.6 34

 35 FA543150005 Pension entitlements (3) -31.1 109.9 60.5 97.6 188.5 92.8 129.6 169.1 8.5 35

 36 FA543170005 Trade payables 66.8 16.3 16.3 16.3 16.3 16.4 16.6 25.5 43.7 36

 37 FA543178075 Taxes payable -0.5 -1.1 -3.6 -4.0 0.3 2.9 1.9 -3.2 3.5 37

 38 FA543190005 Miscellaneous liabilities 58.7 9.8 61.6 33.9 95.1 -151.6 121.7 68.2 87.2 38

 39 FA543194703 Other investment by holding company parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 FA673090543 Funding agreements backing securities (4) 40.5 18.3 58.0 8.4 -3.0 9.9 8.3 10.1 15.9 40

 41 FA543195005 Other reserves (5) 17.0 2.7 7.6 -9.3 6.8 5.8 26.0 8.5 6.9 41

 42 FA593095005 Unallocated insurance contracts 7.7 9.3 2.7 -0.7 7.1 27.8 22.0 9.4 6.4 42

 43 FA543193005 Other -6.4 -20.5 -6.7 35.4 84.2 -195.1 65.4 40.3 57.9 43

 44 FA543181105 Net equity issues -23.9 -24.1 -28.4 -40.9 -22.7 -4.4 -14.1 -16.0 -17.0 44

 45 FA543164173 Corporate equity issues -24.6 -30.5 -35.4 -30.2 -32.7 -23.6 -23.2 -27.2 -22.7 45

 46 FA543192173 Foreign direct investment: equity 0.7 6.4 7.0 -10.7 10.0 19.2 9.2 11.2 5.7 46

 47 FA543194603 Equity investment by holding company parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 FA547005005 Discrepancy -108.0 -123.8 -141.2 -140.8 -79.0 -134.2 21.2 -51.1 -64.4 48

 Memo:

 49 FA543200073 Securities lending (6) 6.4 -12.8 9.3 -26.1 -24.8 -9.5 7.1 -8.5 -4.1 49

 50 FA543176015 Direct reserve 37.8 218.2 227.8 200.5 276.3 168.3 249.4 239.0 5.3 50

 51 FA543176025 Reinsured to U.S. reinsurers 40.2 75.0 75.0 75.0 74.9 75.0 47.4 31.1 55.9 51

 52 FA543076035 Reinsured to non-U.S. reinsurers 139.8 120.6 120.6 120.6 120.6 120.6 62.9 28.9 53.4 52

 53 FA543176035 Reinsured from non-U.S. reinsurers -3.1 8.5 8.5 8.5 8.5 8.5 1.0 0.4 0.2 53

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables F.116.g and F.116.s.

(2) Net capital transfers paid from table F.5, line 54.

(3) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 40.

(4) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(5) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.

(6) Liability for securities lending collateral, included in line 41.
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Z.1, December 7, 2023 31

F.116.g Life Insurance Companies: General Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA544090075 Net acquisition of financial assets 322.2 362.9 382.3 415.7 438.6 215.1 361.8 288.8 294.9 1

 2 FA543020075 Checkable deposits and currency -4.8 -10.8 -41.4 8.8 -4.9 -5.6 3.7 55.1 -40.6 2

 3 FA543034075 Money market fund shares 1.1 2.3 -11.4 11.1 4.8 4.5 13.6 30.9 -18.9 3

 4 FA542051075 Security repurchase agreements 1.6 -5.2 -7.5 -7.3 -1.4 -4.8 5.1 3.0 1.8 4

 5 FA544022075 Debt securities 125.9 129.2 158.5 95.1 170.4 92.7 162.8 4.0 45.3 5

 6 FA543069175 Open market paper 1.9 -6.6 -14.9 -16.6 6.2 -0.9 -1.5 1.7 6.8 6

 7 FA543061175 Treasury securities -8.1 -2.6 -21.3 -9.1 14.8 5.3 -5.2 9.9 -1.5 7

 8 FA543061775 Agency- and GSE-backed securities -26.7 -20.1 -28.3 -26.4 -5.3 -20.2 -9.7 0.6 7.4 8

 9 FA543062075 Municipal securities 0.3 2.1 -0.2 8.2 1.3 -1.0 -5.3 -13.2 -6.4 9

 10 FA543063075 Corporate and foreign bonds 158.5 156.3 223.2 139.1 153.5 109.5 184.5 4.9 39.1 10

 11 FA544023075 Loans 40.3 56.1 69.9 71.5 41.3 41.7 39.2 46.6 47.6 11

 12 FA543069075 Other loans and advances 3.9 1.0 -5.2 -0.5 11.8 -2.2 4.8 -1.0 4.4 12

 13 FA543065075 Mortgages 36.4 55.1 75.2 72.0 29.5 43.9 34.4 47.6 43.2 13

 14 FA543092375 U.S. direct investment abroad: intercompany debt -0.7 -0.2 -0.8 0.7 -1.1 0.5 0.4 -0.3 0.1 14

 15 FA543064175 Corporate equities 13.2 1.1 6.3 7.0 -10.7 1.8 2.1 -3.3 -1.8 15

 16 FA543092173 U.S. direct investment abroad: equity 0.0 1.9 3.9 -4.5 4.3 3.7 24.0 2.6 20.4 16

 17 FA543092473 Equity in FHLB 1.3 -1.0 2.2 -2.2 -2.4 -1.7 -1.1 2.4 1.4 17

 18 FA543064275 Mutual fund shares -0.7 -0.1 -1.5 -0.5 2.7 -1.2 -2.0 -2.8 -0.3 18

 19 FA543040075 Life insurance reserves 22.2 -5.6 -5.6 -5.6 -5.6 -5.6 13.5 8.2 4.5 19

 20 FA543050075 Pension entitlements 88.7 104.5 104.5 104.5 104.5 104.5 47.7 19.0 97.6 20

 21 FA543070075 Trade receivables 10.0 -3.9 -3.9 -3.9 -3.9 -3.9 3.7 12.7 35.3 21

 22 FA543090075 Miscellaneous assets 24.0 94.9 109.2 141.1 140.6 -11.4 49.2 110.9 102.4 22

 23 FA544194075 Net increase in liabilities and equity 255.1 261.1 273.1 302.2 385.0 83.9 402.7 254.8 259.3 23

 24 FA544190075 Net increase in liabilities 279.0 285.2 301.5 343.1 407.7 88.3 416.8 270.8 276.3 24

 25 FA542151073 Security repurchase agreements 1.5 15.4 11.3 5.8 30.1 14.5 -6.9 17.3 10.4 25

 26 FA543169373 Loans (other loans and advances) 6.8 21.7 44.7 29.0 12.3 0.7 26.4 -13.9 11.0 26

 27 FA543192375 Foreign direct investment: intercompany debt -0.8 -4.7 -4.7 -6.9 -3.6 -3.8 -0.1 0.8 4.5 27

 28 FA543140075 Life insurance reserves 75.0 37.3 36.1 60.0 43.8 9.3 94.0 56.9 31.5 28

 29 FA543150075 Pension entitlements (1) 82.0 131.1 73.6 177.6 173.7 99.4 202.4 96.0 100.0 29

 30 FA543170075 Trade payables 66.8 16.3 16.3 16.3 16.3 16.3 16.5 25.5 43.6 30

 31 FA543178075 Taxes payable -0.5 -1.1 -3.6 -4.0 0.3 2.9 1.9 -3.2 3.5 31

 32 FA543190075 Miscellaneous liabilities 48.2 69.2 127.8 65.3 134.8 -50.9 82.6 91.3 71.7 32

 33 FA543181105 Net equity issues -23.9 -24.1 -28.4 -40.9 -22.7 -4.4 -14.1 -16.0 -17.0 33

 34 FA543164173 Corporate equity issues -24.6 -30.5 -35.4 -30.2 -32.7 -23.6 -23.2 -27.2 -22.7 34

 35 FA543192173 Foreign direct investment: equity 0.7 6.4 7.0 -10.7 10.0 19.2 9.2 11.2 5.7 35

 36 FA543194603 Equity investment by holding company parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 32).

F.116.s Life Insurance Companies: Separate Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA544090085 Net acquisition of financial assets -126.3 -46.1 -36.4 -75.3 18.4 -90.9 -48.2 56.5 -87.0 1

 2 FA543020083 Checkable deposits and currency -3.6 7.0 8.7 5.3 9.7 4.2 9.6 7.9 -0.2 2

 3 FA543034385 Money market fund shares -3.4 7.9 15.2 11.3 2.6 2.4 -3.2 2.0 2.3 3

 4 FA544022085 Debt securities 45.3 48.5 57.4 41.6 59.1 35.9 66.8 119.0 68.8 4

 5 FA543069183 Open market paper 5.0 -9.3 -9.1 -10.1 -8.3 -9.5 2.1 1.7 -0.0 5

 6 FA543061183 Treasury securities 5.5 -2.9 4.1 -4.6 3.0 -14.2 5.7 12.3 7.6 6

 7 FA543061783 Agency- and GSE-backed securities -15.6 3.8 13.8 -0.6 12.3 -10.4 12.9 18.5 4.1 7

 8 FA543062083 Municipal securities 0.7 2.3 4.9 2.3 4.1 -2.0 2.2 3.2 2.8 8

 9 FA543063085 Corporate and foreign bonds 49.5 54.6 43.7 54.6 48.1 72.1 43.9 83.3 54.4 9

 10 FA544023085 Loans 9.7 11.1 13.7 8.7 15.2 6.8 14.5 12.0 -0.3 10

 11 FA543069483 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA543065083 Mortgages 9.7 11.1 13.7 8.7 15.2 6.8 14.5 12.0 -0.3 12

 13 FA543064185 Corporate equities -91.4 -3.3 9.8 18.0 -6.0 -34.8 -22.0 -10.4 -52.8 13

 14 FA543064385 Mutual fund shares -136.9 -87.7 -123.3 -104.7 -75.4 -47.3 -126.4 -109.0 -112.2 14

 15 FA543040085 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA543050085 Pension entitlements -0.2 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.1 16

 17 FA543070085 Trade receivables 0.1 -0.1 -0.1 -0.1 -0.1 -0.0 0.0 0.0 -0.0 17

 18 FA543090085 Miscellaneous assets 54.0 -29.5 -17.8 -55.4 13.3 -58.0 12.5 34.9 7.3 18

 19 FA544190085 Net increase in liabilities -129.5 -45.9 -38.5 -86.9 13.2 -71.5 -45.0 62.2 -92.9 19

 20 FA543140085 Life insurance reserves -26.9 34.8 40.8 24.5 38.2 35.8 -11.3 12.3 -17.0 20

 21 FA543150085 Pension entitlements (1) -113.1 -21.3 -13.1 -80.0 14.7 -6.6 -72.9 73.0 -91.5 21

 22 FA543170085 Trade payables 0.0 0.0 0.0 0.0 0.0 0.1 0.1 -0.0 0.0 22

 23 FA543190085 Miscellaneous liabilities 10.5 -59.5 -66.2 -31.4 -39.7 -100.7 39.1 -23.1 15.6 23

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds which are included in miscellaneous liabilities (line 23).
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32 Z.1, December 7, 2023

F.117 Private and Public Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA596330005 Gross saving 1.2 2.3 2.2 2.3 2.4 2.4 2.5 2.5 2.5 1

 2 FA595013005 Fixed nonresidential investment 4.3 4.9 4.7 4.8 5.0 5.1 5.2 5.3 5.3 2

 3 FA594090005 Net acquisition of financial assets (2) 303.0 423.4 506.0 428.8 386.6 372.2 494.6 412.3 402.0 3

 4 FA593020005 Checkable deposits and currency 4.6 -3.6 -4.6 0.2 -13.9 4.0 0.8 25.1 4.5 4

 5 FA593030005 Time and savings deposits 0.6 5.0 -8.1 7.4 -5.6 26.4 -12.4 -10.8 1.0 5

 6 FA593034005 Money market fund shares 9.9 12.4 1.7 8.7 10.2 29.3 15.5 -6.5 10.6 6

 7 FA592051005 Security repurchase agreements 19.9 21.5 -29.5 0.5 51.6 63.3 46.1 -151.4 -29.8 7

 8 FA594022005 Debt securities 492.4 427.4 532.4 440.7 332.5 404.2 -661.7 1684.1 198.3 8

 9 FA593069105 Open market paper 12.8 -6.9 12.9 0.7 -24.8 -16.3 7.3 9.5 -6.4 9

 10 FA593061105 Treasury securities (3) 307.7 292.6 303.5 293.8 121.3 451.8 -792.3 1678.9 112.8 10

 11 FA593061705 Agency- and GSE-backed securities 39.1 3.9 36.5 -14.6 -18.2 11.9 -102.2 64.3 -12.8 11

 12 FA593062045 Municipal securities -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 12

 13 FA593063005 Corporate and foreign bonds 132.8 137.8 179.4 160.7 254.1 -43.1 225.5 -68.6 104.7 13

 14 FA594023005 Loans 0.8 0.5 0.1 0.2 3.8 -2.1 1096.2 -1090.9 1.6 14

 15 FA313169003 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 1091.3 -1091.3 0.0 15

 16 FA593065005 Mortgages 0.8 0.5 0.1 0.2 3.8 -2.1 5.0 0.4 1.6 16

 17 FA593064105 Corporate equities -387.6 -241.7 -239.7 -353.0 -171.5 -202.8 -524.6 12.5 -250.6 17

 18 FA593064205 Mutual fund shares -246.6 -54.7 12.2 -55.9 -64.3 -110.7 187.8 -165.9 -112.6 18

 19 FA593090005 Miscellaneous assets 409.0 256.5 241.6 379.9 243.8 160.6 346.9 116.1 578.9 19

 20 FA593095005 Unallocated insurance contracts (4) 7.7 9.3 2.7 -0.7 7.1 27.8 22.0 9.4 6.4 20

 21 FA573074005 Contributions receivable -6.5 -1.3 -2.2 -2.3 -0.7 -0.2 -5.1 -4.7 -1.7 21

 22 FA593073005 Claims of pension fund on sponsor (5) 307.6 134.0 183.7 131.7 258.8 -38.2 347.6 15.8 343.6 22

 23 FA593093005 Other 100.2 114.6 57.4 251.2 -21.4 171.2 -17.7 95.6 230.6 23

 24 FA594190005 Net increase in pension entitlements (liabilities) 306.1 426.0 508.4 431.3 389.2 374.8 497.3 415.0 404.8 24

 Memo:

 25 FA153050015 Household retirement assets (6) 731.0 310.5 408.1 245.4 137.0 451.7 593.4 728.4 ND 25

 26 FA594190045 Defined benefit plans 295.2 374.8 375.1 373.6 374.6 375.9 376.6 376.3 375.4 26

 27 FA594090055 Defined contribution plans 10.9 51.2 133.3 57.8 14.6 -1.1 120.8 38.7 29.4 27

 28 FA893131573 Individual retirement plans (IRAs) (7) 475.0 -242.6 -205.8 -365.7 -437.0 38.2 28.2 196.9 ND 28

 29 FA543150015 Annuities at life insurance companies (8) -50.1 127.1 105.4 179.7 184.7 38.7 67.8 116.5 ND 29

(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) Includes both marketable and nonmarketable government securities.

(4) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements.

(6) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(7) IRA assets are not included above. See memo item on table F.229 for a sectoral distribution of IRA accounts.

(8) Annuities held in IRAs are excluded. They are included in line 28.
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F.118 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA576330005 Gross saving 0.5 1.1 1.0 1.1 1.1 1.1 1.1 1.2 1.2 1

 2 FA575013005 Fixed nonresidential investment 2.0 2.2 2.2 2.2 2.3 2.3 2.4 2.4 2.4 2

 3 FA574090005 Net acquisition of financial assets (2) 3.8 66.9 57.7 53.5 57.8 98.6 110.1 23.1 22.5 3

 4 FA573020005 Checkable deposits and currency 4.5 -0.5 0.0 -0.3 -0.8 -1.1 0.7 0.5 -0.3 4

 5 FA573030005 Time and savings deposits 0.5 1.0 0.7 1.1 1.0 1.1 1.1 1.1 0.9 5

 6 FA573034005 Money market fund shares 7.4 16.3 9.4 16.5 17.6 21.7 10.6 11.1 14.5 6

 7 FA572051005 Security repurchase agreements 0.3 0.8 0.7 1.0 0.7 0.7 1.3 1.3 0.8 7

 8 FA574022005 Debt securities 189.7 154.6 73.5 145.4 190.4 209.1 233.2 215.1 96.8 8

 9 FA573069105 Open market paper 1.2 2.3 1.8 2.6 2.3 2.6 2.6 2.6 2.2 9

 10 FA573061105 Treasury securities 71.3 78.6 20.6 54.9 116.0 123.0 162.7 144.1 29.0 10

 11 FA573061705 Agency- and GSE-backed securities 29.9 19.4 12.0 20.2 20.8 24.7 13.5 14.2 16.8 11

 12 FA573063005 Corporate and foreign bonds 87.4 54.2 39.2 67.6 51.4 58.8 54.4 54.1 48.8 12

 13 FA573065005 Loans (mortgages) 1.1 0.8 0.6 0.9 0.8 0.9 0.9 0.9 0.8 13

 14 FA573064105 Corporate equities -295.0 -137.2 -107.7 -158.0 -133.7 -149.2 -206.3 -163.0 -128.5 14

 15 FA573064205 Mutual fund shares -83.4 -42.5 -1.3 -51.5 -59.8 -57.5 56.0 -59.9 -76.1 15

 16 FA573090005 Miscellaneous assets 178.6 73.6 81.7 98.4 41.6 72.7 12.7 16.1 113.6 16

 17 FA573095005 Unallocated insurance contracts (3) -6.7 -2.4 -14.2 -9.0 -1.9 15.3 10.2 2.7 -0.1 17

 18 FA573074005 Contributions receivable -6.5 -1.3 -2.2 -2.3 -0.7 -0.2 -5.1 -4.7 -1.7 18

 19 FA573073005 Claims of pension fund on sponsor (4) 149.6 55.3 66.8 84.1 34.3 36.0 37.6 33.1 70.2 19

 20 FA573093005 Other 42.2 22.0 31.2 25.6 9.8 21.5 -30.1 -15.1 45.3 20

 21 FA574190005 Net increase in pension entitlements (liabilities) 5.3 68.0 58.8 54.6 59.0 99.8 111.3 24.3 23.7 21

 Memo:

 Net acquisition of financial assets

 22 FA574090045 Defined benefit plans (5) -23.9 15.2 15.2 15.2 15.1 15.1 15.1 15.1 15.1 22

 23 FA574090055 Defined contribution plans (6) 27.8 51.7 42.4 38.3 42.6 83.4 95.0 8.0 7.4 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) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Additional detail on defined benefit plans is available on table F.118.b.

(6) Additional detail on defined contribution plans is available on table F.118.c.
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34 Z.1, December 7, 2023

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA574090045 Net acquisition of financial assets (1) -23.9 15.2 15.2 15.2 15.1 15.1 15.1 15.1 15.1 1

 2 FA573020043 Checkable deposits and currency -0.5 0.8 0.7 0.9 0.7 0.7 1.3 1.2 0.8 2

 3 FA573030043 Time and savings deposits 0.2 0.5 0.5 0.6 0.5 0.5 0.9 0.8 0.5 3

 4 FA573034043 Money market fund shares 0.9 2.1 2.0 2.6 1.9 1.9 3.5 3.4 2.1 4

 5 FA572051043 Security repurchase agreements 0.3 0.8 0.7 1.0 0.7 0.7 1.3 1.3 0.8 5

 6 FA574022045 Debt securities 105.4 53.2 35.7 47.7 64.0 65.2 134.0 130.9 38.1 6

 7 FA573069143 Open market paper 0.5 1.3 1.2 1.6 1.1 1.2 2.1 2.0 1.3 7

 8 FA573061143 Treasury securities 36.9 26.4 6.0 8.0 45.7 45.9 90.7 90.2 6.4 8

 9 FA573061743 Agency- and GSE-backed securities 14.4 3.9 3.7 4.9 3.5 3.6 6.6 6.3 3.9 9

 10 FA573063043 Corporate and foreign bonds 53.5 21.6 24.9 33.2 13.7 14.5 34.6 32.4 26.6 10

 11 FA573065043 Loans (mortgages) 1.1 0.4 0.4 0.5 0.4 0.4 0.7 0.7 0.4 11

 12 FA573064143 Corporate equities -227.9 -85.5 -80.0 -106.9 -76.3 -78.9 -143.5 -136.6 -85.5 12

 13 FA573064243 Mutual fund shares -40.3 -10.9 -10.2 -13.6 -9.7 -10.1 -18.3 -17.4 -10.9 13

 14 FA573090045 Miscellaneous assets 136.9 53.8 65.4 82.3 33.0 34.6 35.1 30.8 68.7 14

 15 FA573095405 Unallocated insurance contracts (2) -6.1 -2.0 -1.8 -2.4 -1.7 -1.8 -3.3 -3.1 -2.0 15

 16 FA573074043 Contributions receivable -9.7 -3.7 -3.4 -4.6 -3.3 -3.4 -6.2 -5.9 -3.7 16

 17 FA573073005 Claims of pension fund on sponsor (3) 149.6 55.3 66.8 84.1 34.3 36.0 37.6 33.1 70.2 17

 18 FA573093043 Other 3.0 4.2 3.9 5.2 3.7 3.8 7.0 6.6 4.2 18

 19 FA574190043 Net increase in pension entitlements (liabilities) -22.5 16.3 16.3 16.3 16.3 16.3 16.3 16.3 16.3 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements.

F.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA574090055 Net acquisition of financial assets 27.8 51.7 42.4 38.3 42.6 83.4 95.0 8.0 7.4 1

 2 FA573020033 Checkable deposits and currency 5.0 -1.3 -0.7 -1.3 -1.4 -1.8 -0.6 -0.7 -1.1 2

 3 FA573030033 Time and savings deposits 0.3 0.5 0.2 0.5 0.5 0.6 0.2 0.2 0.4 3

 4 FA573034055 Money market fund shares 6.6 14.2 7.4 13.8 15.7 19.8 7.0 7.8 12.4 4

 5 FA572051033 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA574022035 Debt securities 84.4 101.4 37.8 97.6 126.4 143.9 99.2 84.1 58.7 6

 7 FA573069133 Open market paper 0.6 1.1 0.6 1.1 1.2 1.5 0.5 0.6 0.9 7

 8 FA573061133 Treasury securities 34.4 52.2 14.6 46.9 70.3 77.1 72.0 54.0 22.7 8

 9 FA573061733 Agency- and GSE-backed securities 15.5 15.5 8.3 15.3 17.2 21.1 6.9 7.9 12.9 9

 10 FA573063033 Corporate and foreign bonds 33.9 32.7 14.3 34.4 37.7 44.3 19.8 21.7 22.2 10

 11 FA573065033 Loans (mortgages) 0.0 0.4 0.2 0.4 0.5 0.6 0.2 0.2 0.3 11

 12 FA573064133 Corporate equities -67.1 -51.6 -27.7 -51.0 -57.4 -70.3 -62.8 -26.5 -43.0 12

 13 FA573064255 Mutual fund shares -43.1 -31.6 8.9 -37.8 -50.1 -47.4 74.3 -42.5 -65.2 13

 14 FA573090055 Miscellaneous assets 41.7 19.7 16.3 16.1 8.6 38.0 -22.5 -14.7 44.9 14

 15 FA573095505 Unallocated insurance contracts (2) -0.6 -0.5 -12.4 -6.6 -0.2 17.1 13.5 5.8 1.8 15

 16 FA573074033 Contributions receivable 3.1 2.3 1.3 2.3 2.6 3.2 1.0 1.2 2.0 16

 17 FA573093055 Other 39.2 17.9 27.4 20.4 6.1 17.7 -37.0 -21.7 41.1 17

 18 FA574090055 Net increase in pension entitlements (liabilities) 27.8 51.7 42.4 38.3 42.6 83.4 95.0 8.0 7.4 18

(1) Includes 401(k) and 403(b) type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
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F.119 Federal Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA344090005 Net acquisition of financial assets (1) 74.7 72.3 150.5 102.5 45.6 -9.4 86.4 88.7 91.1 1

 2 FA343020033 Checkable deposits and currency 0.2 -0.9 -0.9 -0.9 -0.9 -0.9 -0.8 0.0 0.0 2

 3 FA344022005 Debt securities 159.1 242.5 308.4 280.3 77.7 303.8 -1072.1 1425.1 37.4 3

 4 FA343061105 Treasury securities (2) 160.2 243.7 308.9 285.1 78.1 302.5 -1073.0 1422.5 37.9 4

 5 FA343061705 Agency- and GSE-backed securities 0.3 -1.2 -0.6 -2.3 -0.7 -1.2 0.5 1.1 -0.4 5

 6 FA343062033 Municipal securities -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 6

 7 FA343063005 Corporate and foreign bonds -1.4 0.1 0.0 -2.5 0.3 2.4 0.5 1.5 -0.1 7

 8 FA343064105 Corporate equities 10.2 -6.0 -31.8 17.5 -13.6 3.9 -0.0 14.3 22.3 8

 9 FA313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 0.0 0.0 1091.3 -1091.3 0.0 9

 10 FA343073045 Claims of pension fund on sponsor (misc. assets) (4) -94.8 -163.3 -125.1 -194.4 -17.6 -316.2 68.0 -259.4 31.4 10

 11 FA344090005 Net increase in pension entitlements (liabilities) 74.7 72.3 150.5 102.5 45.6 -9.4 86.4 88.7 91.1 11

 Memo:

 Net acquisition of financial assets

 12 FA344090045 Defined benefit plans (5) 71.3 71.9 72.3 70.7 71.8 73.1 73.7 73.5 72.5 12

 13 FA344090055 Defined contribution plans (6) 3.4 0.3 78.2 31.8 -26.2 -82.5 12.7 15.2 18.6 13

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Comprised primarily of nonmarketable Treasury securities.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Unfunded defined benefit pension entitlements.

(5) Additional detail on defined benefit plans is available on table F.119.b

(6) Additional detail on defined contribution plans is available on table F.119.c.
Transactions

36 Z.1, December 7, 2023

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA344090045 Net acquisition of financial assets (2) 71.3 71.9 72.3 70.7 71.8 73.1 73.7 73.5 72.5 1

 2 FA343020033 Checkable deposits and currency 0.2 -0.9 -0.9 -0.9 -0.9 -0.9 -0.8 0.0 0.0 2

 3 FA344022045 Debt securities 166.5 237.5 200.3 265.8 92.6 391.4 7.7 334.2 41.6 3

 4 FA343061165 Treasury securities (3) 167.0 237.2 199.7 266.5 91.7 390.9 7.6 333.7 41.4 4

 5 FA343061733 Agency- and GSE-backed securities -0.3 -0.0 -0.0 -0.2 0.0 0.1 0.0 0.1 -0.0 5

 6 FA343062033 Municipal securities -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 6

 7 FA343063033 Corporate and foreign bonds -0.2 0.4 0.6 -0.5 0.9 0.4 0.1 0.5 0.2 7

 8 FA343064135 Corporate equities -0.5 -1.3 -2.0 0.2 -2.4 -1.2 -1.2 -1.4 -0.5 8

 9 FA343073045 Claims of pension fund on sponsor (misc. assets) (4) -94.8 -163.3 -125.1 -194.4 -17.6 -316.2 68.0 -259.4 31.4 9

 10 FA344190045 Net increase in pension entitlements (liabilities) 71.3 71.9 72.3 70.7 71.8 73.1 73.7 73.5 72.5 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) Comprised primarily of nonmarketable Treasury securities.

(4) Unfunded defined benefit pension entitlements.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA344090055 Net acquisition of financial assets 3.4 0.3 78.2 31.8 -26.2 -82.5 12.7 15.2 18.6 1

 2 FA344022025 Debt securities -7.4 5.0 108.1 14.5 -14.9 -87.6 -1079.8 1090.9 -4.2 2

 3 FA343061155 Treasury securities (2) -6.7 6.5 109.2 18.6 -13.6 -88.4 -1080.6 1088.8 -3.5 3

 4 FA343061723 Agency- and GSE-backed securities 0.6 -1.2 -0.6 -2.1 -0.7 -1.3 0.4 1.0 -0.4 4

 5 FA343063023 Corporate and foreign bonds -1.3 -0.3 -0.6 -2.0 -0.7 2.1 0.4 1.0 -0.3 5

 6 FA343064125 Corporate equities 10.7 -4.7 -29.9 17.3 -11.2 5.1 1.1 15.7 22.8 6

 7 FA313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 0.0 0.0 1091.3 -1091.3 0.0 7

 8 FA344090055 Net increase in pension entitlements (liabilities) 3.4 0.3 78.2 31.8 -26.2 -82.5 12.7 15.2 18.6 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable Treasury securities held in the G fund and marketable Treasury securities held in the F fund.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
Transactions

Z.1, December 7, 2023 37

F.120 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA226330005 Gross saving 0.7 1.3 1.2 1.2 1.3 1.3 1.3 1.3 1.4 1

 2 FA225013005 Fixed nonresidential investment 2.4 2.7 2.6 2.6 2.7 2.8 2.9 2.9 2.9 2

 3 FA224090005 Net acquisition of financial assets (1) 224.5 284.2 297.8 272.9 283.2 283.0 298.1 300.4 288.4 3

 4 FA223020043 Checkable deposits and currency -0.1 -2.1 -3.7 1.5 -12.2 5.9 1.0 24.6 4.8 4

 5 FA223030043 Time and savings deposits 0.1 4.0 -8.9 6.3 -6.6 25.3 -13.5 -11.9 0.1 5

 6 FA223034005 Money market fund shares 2.4 -3.9 -7.7 -7.8 -7.4 7.5 5.0 -17.6 -3.8 6

 7 FA222051043 Security repurchase agreements 19.6 20.7 -30.2 -0.5 50.9 62.6 44.8 -152.7 -30.6 7

 8 FA224022045 Debt securities 143.6 30.3 150.4 15.0 64.4 -108.7 177.2 43.9 64.1 8

 9 FA223069143 Open market paper 11.6 -9.2 11.2 -1.9 -27.1 -18.9 4.7 7.0 -8.6 9

 10 FA223061143 Treasury securities 76.2 -29.6 -26.0 -46.1 -72.8 26.3 118.0 112.2 45.9 10

 11 FA223061743 Agency- and GSE-backed securities 9.0 -14.4 25.0 -32.6 -38.3 -11.7 -116.2 49.0 -29.2 11

 12 FA223062043 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA223063045 Corporate and foreign bonds 46.8 83.5 140.2 95.7 202.5 -104.4 170.6 -124.2 56.1 13

 14 FA223065043 Loans (mortgages) -0.3 -0.3 -0.5 -0.7 3.0 -3.0 4.1 -0.5 0.9 14

 15 FA223064145 Corporate equities -102.9 -98.6 -100.1 -212.5 -24.1 -57.5 -318.3 161.3 -144.4 15

 16 FA223064205 Mutual fund shares -163.1 -12.2 13.4 -4.4 -4.5 -53.2 131.8 -106.0 -36.5 16

 17 FA223090005 Miscellaneous assets 325.2 346.2 285.0 476.0 219.8 404.1 266.2 359.4 433.9 17

 18 FA223095505 Unallocated insurance contracts (2) 14.4 11.7 16.9 8.4 9.0 12.5 11.8 6.7 6.6 18

 19 FA223073045 Claims of pension fund on sponsor (3) 252.8 242.0 242.0 242.0 242.0 242.0 242.0 242.0 242.0 19

 20 FA223093005 Other 58.0 92.5 26.1 225.6 -31.2 149.6 12.4 110.7 185.3 20

 21 FA224190005 Net increase in pension entitlements (liabilities) 226.2 285.6 299.2 274.3 284.7 284.5 299.6 302.0 290.0 21

 Memo:

 Net acquisition of financial assets

 22 FA224090045 Defined benefit plans (4) 244.7 285.1 285.2 285.1 285.1 285.1 285.0 285.0 285.0 22

 23 FA224090055 Defined contribution plans (5) -20.2 -0.9 12.6 -12.3 -1.9 -2.1 13.1 15.4 3.5 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.

(3) Unfunded defined benefit pension entitlements.

(4) Additional detail on defined benefit plans is available on table F.120.b.

(5) Additional detail on defined contribution plans is available on table F.120.c.
Transactions

38 Z.1, December 7, 2023

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA224090045 Net acquisition of financial assets (1) 244.7 285.1 285.2 285.1 285.1 285.1 285.0 285.0 285.0 1

 2 FA223020043 Checkable deposits and currency -0.1 -2.1 -3.7 1.5 -12.2 5.9 1.0 24.6 4.8 2

 3 FA223030043 Time and savings deposits 0.1 4.0 -8.9 6.3 -6.6 25.3 -13.5 -11.9 0.1 3

 4 FA223034043 Money market fund shares 3.2 -3.9 -7.7 -7.8 -7.4 7.5 4.9 -21.6 -4.2 4

 5 FA222051043 Security repurchase agreements 19.6 20.7 -30.2 -0.5 50.9 62.6 44.8 -152.7 -30.6 5

 6 FA224022045 Debt securities 143.6 30.3 150.4 15.0 64.4 -108.7 177.2 43.9 64.1 6

 7 FA223069143 Open market paper 11.6 -9.2 11.2 -1.9 -27.1 -18.9 4.7 7.0 -8.6 7

 8 FA223061143 Treasury securities 76.2 -29.6 -26.0 -46.1 -72.8 26.3 118.0 112.2 45.9 8

 9 FA223061743 Agency- and GSE-backed securities 9.0 -14.4 25.0 -32.6 -38.3 -11.7 -116.2 49.0 -29.2 9

 10 FA223062043 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA223063045 Corporate and foreign bonds 46.8 83.5 140.2 95.7 202.5 -104.4 170.6 -124.2 56.1 11

 12 FA223065043 Loans (mortgages) -0.3 -0.3 -0.5 -0.7 3.0 -3.0 4.1 -0.5 0.9 12

 13 FA223064145 Corporate equities -102.9 -98.6 -100.1 -212.5 -24.1 -57.5 -318.3 161.3 -144.4 13

 14 FA223064243 Mutual fund shares -131.1 0.5 17.8 16.4 6.5 -38.5 130.6 -110.6 -32.9 14

 15 FA223090045 Miscellaneous assets 312.5 334.4 268.0 467.5 210.7 391.5 254.3 352.6 427.2 15

 16 FA223073045 Claims of pension fund on sponsor (2) 252.8 242.0 242.0 242.0 242.0 242.0 242.0 242.0 242.0 16

 17 FA223093043 Other 59.7 92.4 26.0 225.5 -31.3 149.5 12.3 110.6 185.2 17

 18 FA224190043 Net increase in pension entitlements (liabilities) 246.4 286.5 286.5 286.5 286.5 286.5 286.5 286.5 286.5 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

F.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA224090055 Net acquisition of financial assets -20.2 -0.9 12.6 -12.3 -1.9 -2.1 13.1 15.4 3.5 1

 2 FA223034055 Money market fund shares -0.8 0.0 -0.0 0.0 0.0 0.0 0.0 4.0 0.3 2

 3 FA223064255 Mutual fund shares -32.1 -12.7 -4.4 -20.7 -11.0 -14.7 1.1 4.6 -3.6 3

 4 FA223090055 Miscellaneous assets 12.6 11.8 17.0 8.5 9.2 12.6 11.9 6.8 6.7 4

 5 FA223095505 Unallocated insurance contracts (misc. assets) (2) 14.4 11.7 16.9 8.4 9.0 12.5 11.8 6.7 6.6 5

 6 FA223093053 Other -1.7 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 6

 7 FA224090055 Net increase in pension entitlements (liabilities) -20.2 -0.9 12.6 -12.3 -1.9 -2.1 13.1 15.4 3.5 7

(1) Includes 403(b) and 457 type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
Transactions

Z.1, December 7, 2023 39

F.121 Money Market Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA634090005 Net acquisition of financial assets 439.5 17.6 -157.6 -79.7 8.2 299.6 2181.5 1043.6 706.3 1

 2 FA633091003 Foreign deposits -0.5 1.1 4.1 0.1 -1.0 1.2 1.2 5.1 31.9 2

 3 FA633030000 Time and savings deposits -20.5 46.5 98.8 -1.5 118.1 -29.5 141.7 91.7 134.0 3

 4 FA632051000 Security repurchase agreements 1427.0 480.9 -154.9 450.8 667.2 960.7 1347.8 -464.8 -1045.6 4

 5 FA634022005 Debt securities -956.4 -546.8 -248.6 -565.0 -670.2 -703.4 704.1 1360.5 1723.4 5

 6 FA633069175 Open market paper -6.0 27.6 -54.9 -69.7 111.5 123.4 -89.3 24.7 134.5 6

 7 FA633061105 Treasury securities -651.3 -750.7 -305.5 -560.0 -1044.8 -1092.2 -180.7 1484.7 1845.1 7

 8 FA633061700 Agency- and GSE-backed securities -278.3 169.9 95.5 58.9 248.4 277.1 962.4 -171.4 -278.2 8

 9 FA633062000 Municipal securities -14.6 7.0 22.6 13.0 4.6 -12.0 0.1 20.5 25.0 9

 10 FA633063005 Corporate and foreign bonds -6.3 -0.7 -6.2 -7.2 10.1 0.4 11.5 2.0 -3.0 10

 11 FA633093005 Miscellaneous assets (net) -10.0 35.9 143.1 35.9 -105.8 70.6 -13.2 51.0 -137.4 11

 12 FA634090005 Net share issues (liabilities) 439.5 17.6 -157.6 -79.7 8.2 299.6 2181.5 1043.6 706.3 12

 Memo:

 13 FA634090010 Stable NAV money market funds included above 458.9 3.0 -340.9 -9.1 -96.2 458.0 2124.5 1020.3 741.6 13

 14 FA634090020 Floating NAV money market funds included above (2) -19.3 14.6 183.3 -70.6 104.3 -158.5 57.1 23.2 -35.3 14

 15 FA634090033 Government money market funds included above 549.2 -240.2 -611.1 -321.2 -238.4 210.0 1483.9 646.7 658.0 15

 16 FA634090043 Prime money market funds included above -89.9 233.0 150.0 20.9 464.4 296.7 395.9 237.4 239.6 16

 17 FA634090053 Tax-exempt money market funds included above -19.7 24.8 2.1 67.2 -18.8 48.6 -1.8 15.0 4.8 17

 18 FA634090503 Variable annuity money market funds included above -5.7 8.2 15.1 11.5 2.8 3.4 -2.2 2.7 3.1 18

(1) Open-end investment companies including variable annuity money market funds.

(2) Floating NAV data begin 2016:Q4, corresponding to the implementation of Securities and Exchange Commission money market reforms on October 14, 2016. Some funds used floating NAV

 prior to this date.

F.122 Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA656006403 Gross saving 15.6 14.8 19.5 18.9 12.4 8.5 8.5 8.5 8.5 1

 2 FA654090000 Net acquisition of financial assets 216.4 -800.0 -443.9 -1152.8 -589.6 -1013.7 -147.9 -324.6 -308.5 2

 3 FA653034003 Money market funds 0.2 -41.8 125.5 -150.2 0.0 -142.3 17.0 -6.3 -36.0 3

 4 FA652051003 Security repurchase agreements (net) 30.1 6.2 -31.1 52.7 6.7 -3.5 36.3 21.9 -6.4 4

 5 FA654022005 Debt securities 595.1 -192.1 334.3 -636.7 -27.8 -438.1 71.8 387.9 54.5 5

 6 FA653069100 Open market paper -10.6 0.2 17.8 -35.6 20.9 -2.4 -7.9 12.9 12.4 6

 7 FA653061105 Treasury securities 345.7 -25.5 103.0 -155.2 -49.7 -0.1 -56.6 11.2 27.3 7

 8 FA653061703 Agency- and GSE-backed securities -119.9 42.0 112.1 63.1 -43.9 36.6 208.6 244.2 13.0 8

 9 FA653062003 Municipal securities 109.4 -130.9 -54.5 -207.0 -54.6 -207.4 20.2 19.4 -10.8 9

 10 FA653063005 Corporate and foreign bonds 270.5 -77.8 156.0 -302.0 99.5 -264.8 -92.5 100.2 12.6 10

 11 FA653069803 Loans (other loans and advances) 55.5 -18.8 82.4 -42.5 -56.1 -59.0 -41.0 -29.9 8.2 11

 12 FA653064100 Corporate equities -316.7 -388.2 -522.1 -326.4 -251.4 -452.8 -280.6 -360.7 -290.9 12

 13 FA653093005 Miscellaneous assets -147.8 -165.5 -433.0 -49.8 -261.0 82.0 48.5 -337.6 -37.8 13

 14 FA653164205 Net share issues (liabilities) 216.4 -800.0 -443.9 -1152.8 -589.6 -1013.7 -147.9 -324.6 -308.5 14

 15 FA657005005 Discrepancy 15.6 14.8 19.5 18.9 12.4 8.5 8.5 8.5 8.5 15

 Memo:

 16 FA654090500 Variable annuity mutual funds included above -152.8 -101.8 -140.4 -118.8 -87.5 -60.6 -139.5 -121.6 -124.4 16

 Net acquisition of financial assets by investment objective:

 17 FA654091600 Domestic equity funds -331.3 -216.3 -204.6 -208.1 -191.0 -261.3 -293.8 -385.4 -298.9 17

 18 FA654092603 World equity funds 33.5 -108.4 -15.1 -154.8 -72.0 -191.8 -76.7 -52.4 -35.3 18

 19 FA654091403 Hybrid funds 17.0 -62.1 -21.7 -71.0 -60.9 -94.9 -57.5 -74.9 -88.9 19

 20 FA654091303 Taxable bond funds 398.0 -281.2 -171.7 -481.3 -219.7 -252.3 145.0 193.3 134.8 20

 21 FA654091203 Municipal bond funds 99.3 -132.0 -99.1 -222.1 -49.4 -157.5 46.6 7.8 -14.6 21

(1) Open-end investment companies including variable annuity mutual funds. Quarterly figures for net acquisition of financial assets by investment objective (lines 17 through 21)

 are not seasonally adjusted and therefore may not sum to total net acquisition of financial assets (line 2).
Transactions

40 Z.1, December 7, 2023

F.123 Closed-End Funds 

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA554090005 Net acquisition of financial assets 17.2 -0.5 1.5 2.2 -2.1 -3.5 1.2 0.4 -1.4 1

 2 FA554022005 Debt securities 9.2 -0.6 0.3 0.6 -2.1 -1.3 1.1 0.0 -1.3 2

 3 FA553061103 Treasury securities 0.3 -0.2 -0.0 2.9 -3.8 -0.1 -0.3 -0.0 -0.1 3

 4 FA553062003 Municipal securities 0.7 -0.3 0.4 -0.1 -1.8 0.2 1.0 -0.6 -0.4 4

 5 FA553063003 Corporate and foreign bonds 8.2 -0.0 -0.1 -2.2 3.6 -1.3 0.4 0.6 -0.8 5

 6 FA553064103 Corporate equities 8.0 0.1 1.2 1.6 -0.0 -2.2 0.1 0.4 -0.0 6

 7 FA554090005 Net share issues (liabilities) 17.2 -0.5 1.5 2.2 -2.1 -3.5 1.2 0.4 -1.4 7

 Memo:

 Net acquisition of financial assets by investment objective:

 8 FA554091603 Domestic equity funds 6.0 -0.3 1.2 -0.1 -0.0 -2.1 0.1 0.4 -0.0 8

 9 FA554092603 World equity funds 2.0 0.4 0.0 1.7 0.0 -0.2 0.0 -0.0 0.0 9

 10 FA554091303 Domestic taxable bond funds 6.3 -0.2 -0.1 0.7 -0.3 -1.1 0.1 0.6 -1.0 10

 11 FA554091203 Municipal bond funds 0.7 -0.3 0.4 -0.1 -1.8 0.2 1.0 -0.6 -0.4 11

 12 FA554092303 World bond funds 2.1 -0.1 0.0 0.0 -0.0 -0.4 0.0 -0.0 0.0 12

F.124 Exchange-Traded Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA564090005 Net acquisition of financial assets 935.5 609.3 870.3 556.6 395.3 614.9 423.6 630.4 420.5 1

 2 FA563034003 Money market funds 4.8 -11.5 -15.6 -23.3 15.2 -22.5 20.0 -4.5 -2.4 2

 3 FA564022005 Debt securities 202.7 206.5 112.4 214.2 210.2 289.1 200.1 199.2 152.5 3

 4 FA563061103 Treasury securities 66.5 115.6 71.6 164.4 145.3 81.3 165.9 65.8 104.3 4

 5 FA563062003 Municipal securities 20.6 29.3 19.0 37.3 0.9 60.0 -2.7 10.2 18.3 5

 6 FA563063003 Corporate and foreign bonds 115.6 61.6 21.8 12.5 64.1 147.8 36.9 123.1 29.9 6

 7 FA563064100 Corporate equities 731.6 416.2 704.2 376.2 213.3 370.8 203.7 439.2 296.6 7

 8 FA563093003 Miscellaneous assets (1) -3.6 -1.8 69.2 -10.6 -43.4 -22.6 -0.0 -3.5 -26.2 8

 9 FA564090005 Net share issues (liabilities) 935.5 609.3 870.3 556.6 395.3 614.9 423.6 630.4 420.5 9

 Memo:

 Net acquisition of financial assets by investment objective:

 10 FA564091600 Domestic equity funds 519.1 317.2 570.9 202.3 140.5 355.1 124.2 265.6 185.5 10

 11 FA564092603 World equity funds 210.8 100.3 164.0 86.6 8.8 141.8 115.8 81.5 31.9 11

 12 FA564091703 Commodity funds (1) -4.1 -1.9 74.6 -12.9 -47.0 -22.2 0.9 -4.5 -27.4 12

 13 FA564091403 Hybrid funds 6.4 -3.1 -3.5 -4.1 -1.3 -3.4 -0.8 1.5 1.8 13

 14 FA564091303 Taxable bond funds 182.4 168.0 78.0 162.0 217.7 214.2 220.6 174.3 133.2 14

 15 FA564091203 Municipal bond funds 20.9 28.8 18.0 36.6 1.3 59.3 -1.4 8.9 18.3 15

(1) Investments primarily in commodities, currencies, and futures.
Transactions

Z.1, December 7, 2023 41

F.125 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA406000105 Gross saving 5.5 5.9 6.3 6.0 5.7 5.4 5.4 5.4 5.4 1

 2 FA405013005 Fixed nonresidential investment 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.6 2

 3 FA404090005 Net acquisition of financial assets 582.9 945.6 1167.9 937.9 924.8 751.8 1568.8 -616.6 -232.5 3

 4 FA403020005 Checkable deposits and currency -29.9 6.5 -40.5 7.3 -38.2 97.4 18.4 -41.0 -11.4 4

 5 FA403030005 Time and savings deposits -2.2 16.4 3.5 11.3 13.0 37.6 8.5 19.6 -7.5 5

 6 FA402050005 Federal funds and security repos -2.8 42.5 34.0 236.4 108.8 -209.0 443.4 54.1 -290.0 6

 7 FA404022005 Debt securities -71.2 13.9 93.5 -59.5 37.0 -15.4 25.1 68.1 55.8 7

 8 FA403069105 Open market paper -2.6 5.5 7.0 5.7 7.8 1.5 -3.6 2.7 4.2 8

 9 FA403061105 Treasury securities -43.2 -18.4 78.8 -85.3 -14.4 -52.8 -39.4 16.6 19.2 9

 10 FA403061705 Agency- and GSE-backed securities -23.8 25.8 7.6 19.0 41.5 35.2 66.1 45.6 29.8 10

 11 FA403062005 Municipal securities -0.4 -0.2 -0.0 -0.6 -0.0 -0.3 0.0 -0.3 -0.1 11

 12 FA403063005 Corporate and foreign bonds -1.2 1.3 0.2 1.8 2.1 1.0 2.0 3.4 2.6 12

 13 FA404023005 Loans 719.5 903.7 1132.2 840.6 833.4 808.6 1086.2 -716.3 -6.2 13

 14 FA403069305 Other loans and advances -63.6 502.8 326.1 429.3 593.7 662.1 1022.1 -877.8 -153.8 14

 15 FA403069385 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA403069345 Farm Credit System 11.2 17.8 43.6 -11.1 14.5 24.4 10.9 15.3 32.2 16

 17 FA403069330 FHLB loans -74.9 485.0 282.4 440.4 579.3 637.7 1011.2 -893.1 -185.9 17

 18 FA403065005 Mortgages 783.1 400.9 806.2 411.4 239.7 146.5 64.1 161.5 147.6 18

 19 FA403065105 One-to-four-family residential 738.9 349.3 773.1 384.1 206.8 33.3 36.5 101.3 82.0 19

 20 FA403065195 Consolidated trusts (2) 833.9 363.1 823.9 420.2 242.7 -34.7 102.2 140.9 60.7 20

 21 FA403065185 Other -94.9 -13.7 -50.8 -36.1 -35.9 68.0 -65.7 -39.6 21.3 21

 22 FA403065405 Multifamily residential 25.5 44.4 25.9 19.1 26.7 105.9 18.2 49.5 55.6 22

 23 FA403065495 Consolidated trusts (2) 36.5 40.1 38.3 33.6 25.9 62.7 37.1 53.1 56.2 23

 24 FA403065485 Other -10.9 4.2 -12.4 -14.5 0.8 43.1 -18.9 -3.7 -0.6 24

 25 FA403065605 Farm 18.7 7.2 7.1 8.2 6.2 7.3 9.4 10.8 10.0 25

 26 FA403066005 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA403093005 Miscellaneous assets -30.5 -37.5 -54.9 -98.3 -29.2 32.6 -12.7 -1.2 26.8 27

 28 FA404194005 Net increase in liabilities and equity 531.5 845.4 856.8 774.0 989.5 761.3 1453.2 -629.8 -183.7 28

 29 FA404190005 Net increase in liabilities 533.9 807.2 845.4 728.0 944.3 711.1 1369.5 -584.8 -167.9 29

 30 FA402150005 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA403161705 Debt securities (GSE issues) (3) 539.4 793.3 888.3 747.5 841.6 695.7 1431.6 -588.8 -292.9 31

 32 FA403161795 Consolidated trusts (2) 870.3 403.2 862.3 453.8 268.7 28.0 139.3 194.1 116.9 32

 33 FA403161785 Other -330.9 390.1 26.0 293.6 572.9 667.6 1292.3 -782.9 -409.8 33

 34 FA403169283 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 FA403190005 Miscellaneous liabilities -5.5 14.0 -42.9 -19.4 102.8 15.4 -62.1 4.0 125.0 35

 36 FA403181105 Net equity issues -2.4 38.2 11.4 45.9 45.1 50.2 83.7 -45.0 -15.7 36

 37 FA403164105 Corporate equities -1.5 18.2 5.5 21.4 21.9 24.1 37.4 -24.0 -7.2 37

 38 FA403192405 Equity in GSEs -0.9 20.0 5.8 24.6 23.3 26.1 46.2 -21.0 -8.5 38

 39 FA407005005 Discrepancy -46.3 -94.9 -305.3 -158.4 69.8 14.3 -110.8 -8.3 53.7 39

(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 (F.126) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (F.125).

(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) Such issues are classified as agency- and GSE-backed securities.

F.126 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA413065005 Net acquisition of financial assets 73.5 186.1 152.6 201.0 209.3 181.7 139.7 193.2 76.7 1

 2 FA413065105 One-to-four-family residential mortgages 35.4 178.3 140.5 188.2 205.9 178.4 142.9 186.8 70.0 2

 3 FA413065405 Multifamily residential mortgages 37.7 7.9 12.1 12.8 3.4 3.4 -3.2 3.9 6.7 3

 4 FA413065505 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA413065605 Farm mortgages 0.3 -0.1 -0.0 0.0 -0.0 -0.2 -0.0 2.5 -0.1 5

 6 FA413065005 Net increase in pool securities (liabilities)(2) 73.5 186.1 152.6 201.0 209.3 181.7 139.7 193.2 76.7 6

(1) Ginnie Mae, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.126) are consolidated

 on Fannie Mae’s and Freddie Mac’s balance sheets (table F.125). 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 and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
Transactions

42 Z.1, December 7, 2023

F.127 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA676330023 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA675013025 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA674090005 Net acquisition of financial assets 163.8 81.4 174.4 110.6 73.7 -32.9 82.2 11.8 50.8 3

 4 FA674022005 Debt securities 1.5 4.6 10.5 4.8 2.5 0.4 -0.2 -7.6 -5.0 4

 5 FA673061103 Treasury securities 1.5 4.6 10.5 4.8 2.5 0.4 -0.2 -7.6 -5.0 5

 6 FA673061703 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FA674023005 Loans 118.7 54.8 113.9 93.0 69.0 -56.7 82.8 2.7 36.3 7

 8 FA673069005 Other loans and advances 61.5 41.3 35.1 54.6 49.7 25.9 8.6 3.7 -17.8 8

 9 FA673065005 Mortgages (2) 57.7 11.9 81.2 36.5 18.2 -88.3 76.3 -3.0 54.1 9

 10 FA673065105 One-to-four-family residential 3.8 12.8 27.8 21.9 15.2 -13.9 14.8 7.9 12.9 10

 11 FA673065405 Multifamily residential 12.4 -5.4 26.5 -14.8 -1.0 -32.2 28.0 -1.4 6.3 11

 12 FA673065505 Commercial 41.4 4.5 26.9 29.4 4.0 -42.3 33.5 -9.5 34.9 12

 13 FA673066000 Consumer credit -0.5 1.6 -2.4 1.9 1.1 5.7 -2.1 2.0 0.1 13

 14 FA673070003 Trade credit 3.0 3.8 -8.0 4.3 5.2 13.6 -8.6 6.7 3.6 14

 15 FA673090543 Miscellaneous assets (funding agreements) (3) 40.5 18.3 58.0 8.4 -3.0 9.9 8.3 10.1 15.9 15

 16 FA674122005 Net increase in liabilities 163.8 81.4 174.4 110.6 73.7 -32.9 82.2 11.8 50.8 16

 17 FA673169105 Commercial paper -32.9 65.2 164.4 57.9 26.4 12.0 -42.3 -35.5 -36.5 17

 18 FA673163005 Corporate bonds (net) (4) 196.7 16.3 10.0 52.7 47.2 -44.8 124.5 47.3 87.3 18

 19 FA677005005 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Memo:

 Securitized assets not included above

 20 FA675013263 Consumer leases (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA643065045 Mortgage REIT assets (6) 16.4 2.3 23.9 11.8 -14.1 -12.4 -1.2 -18.9 -16.3 21

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Funding agreements with life insurance companies.

(4) Net issuance less net acquisition of corporate bonds held as assets.

(5) Receivables from operating leases, such as consumer automobile leases, are recorded 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 is included in line 1, and fixed investment is included in line 2.

(6) Included in table F.129.
Transactions

Z.1, December 7, 2023 43

F.128 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA616000105 Gross saving less net capital transfers paid (2) 102.8 91.3 93.3 91.5 90.7 89.6 80.4 83.7 83.9 1

 2 FA615013005 Fixed nonresidential investment 63.3 64.5 62.1 64.1 65.8 66.0 66.8 67.8 67.8 2

 3 FA614090005 Net acquisition of financial assets -53.8 31.6 -131.3 38.9 20.1 198.6 44.1 248.3 179.4 3

 4 FA613020003 Checkable deposits and currency -3.7 -9.7 -30.1 -2.7 -10.2 4.4 3.1 3.6 4.0 4

 5 FA613030003 Time and savings deposits -11.2 -29.0 -90.3 -8.2 -30.6 13.2 9.3 10.9 11.9 5

 6 FA613063003 Debt securities (corporate and foreign bonds) 18.2 -4.2 -14.3 -14.4 0.2 11.4 -50.2 -8.5 4.8 6

 7 FA614023005 Loans -28.3 36.5 -15.8 25.8 32.9 102.9 -8.0 172.6 110.6 7

 8 FA613069505 Other loans and advances -32.6 60.2 21.1 66.6 55.2 98.2 -10.9 103.0 70.5 8

 9 FA613065000 Mortgages -13.5 -11.4 -20.6 -10.3 -14.8 0.0 -20.8 -4.8 -14.6 9

 10 FA613066005 Consumer credit 17.8 -12.4 -16.3 -30.5 -7.5 4.7 23.8 74.4 54.7 10

 11 FA613092305 U.S. direct investment abroad: intercompany debt -2.9 -4.4 -7.0 2.1 -13.2 0.6 7.6 -3.6 8.0 11

 12 FA613092103 U.S. direct investment abroad: equity 24.4 33.2 32.8 16.8 40.8 42.6 29.0 29.8 20.4 12

 13 FA613092403 Equity in FHLB -0.0 -0.0 0.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 13

 14 FA613090005 Miscellaneous assets -50.2 9.2 -6.5 19.6 0.2 23.4 53.3 43.5 19.8 14

 15 FA614194005 Net increase in liabilities and equity -72.4 -32.0 -201.3 75.8 -121.7 119.4 55.5 186.4 182.6 15

 16 FA614190005 Net increase in liabilities -81.2 -33.0 -205.6 74.7 -126.1 125.1 62.3 185.4 187.6 16

 17 FA614122005 Debt securities -61.2 -22.9 -67.1 -40.9 -72.2 88.4 24.6 136.6 42.3 17

 18 FA613169100 Open market paper -0.4 8.9 -21.1 2.8 30.9 23.1 -21.5 29.3 21.1 18

 19 FA613163005 Corporate bonds -60.8 -31.8 -46.0 -43.7 -103.0 65.4 46.2 107.4 21.3 19

 20 FA614123005 Loans 16.5 -58.2 -186.8 -57.4 -5.4 16.9 -50.5 36.2 -7.9 20

 21 FA613168005 Depository institution loans n.e.c. 16.8 -58.2 -186.9 -57.3 -5.4 16.8 -50.5 36.1 -8.0 21

 22 FA613169005 Other loans and advances -0.4 0.0 0.0 -0.0 -0.1 0.1 -0.0 0.1 0.1 22

 23 FA613192305 Foreign direct investment: intercompany debt 0.4 -0.0 0.2 -0.5 1.1 -0.9 -1.6 -0.1 -1.1 23

 24 FA613178005 Taxes payable -1.0 1.9 1.4 4.2 -0.8 2.8 -1.2 0.4 2.3 24

 25 FA613190005 Miscellaneous liabilities -35.8 46.3 46.8 169.3 -48.7 17.8 90.9 12.2 152.0 25

 26 FA613194703 Other investment by parent -11.3 -8.5 -19.2 35.8 -17.2 -33.1 73.2 -63.1 109.0 26

 27 FA613193005 Other -24.5 54.8 66.1 133.5 -31.5 51.0 17.8 75.4 43.0 27

 28 FA613192103 Net equity issues (foreign direct investment) 8.8 1.0 4.3 1.1 4.4 -5.7 -6.8 1.0 -5.0 28

 29 FA617005005 Discrepancy 20.9 -36.8 -38.8 64.3 -116.9 -55.6 24.9 -46.1 19.3 29

 Memo:

 30 FA613066303 Consumer leases not included above (3) -9.8 -36.8 -36.1 -38.5 -39.3 -33.3 -19.4 -6.2 -2.0 30

(1) Includes retail captive finance companies and mortgage companies.

(2) Net capital transfers paid from table F.5, line 57.

(3) Receivables from operating leases, such as consumer automobile leases, are recorded 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 is included in line 1, and fixed investment is included in line 2.
Transactions

44 Z.1, December 7, 2023

F.129 Mortgage Real Estate Investment Trusts (Mortgage REITs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA646006403 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA644090075 Net acquisition of financial assets 17.7 -9.1 -3.7 -21.7 39.2 -50.2 95.3 -40.0 31.4 2

 3 FA643020073 Checkable deposits and currency -1.3 -0.7 -0.6 -2.6 7.1 -6.6 6.2 -7.0 -0.4 3

 4 FA644022075 Debt securities -37.9 -1.3 -8.7 -23.5 58.6 -31.6 77.9 10.0 47.4 4

 5 FA643061773 Agency- and GSE-backed securities -35.2 -3.3 -12.3 -26.3 54.8 -29.2 79.4 10.3 44.0 5

 6 FA643063073 Corporate and foreign bonds -2.7 2.0 3.6 2.8 3.8 -2.4 -1.5 -0.3 3.4 6

 7 FA643065075 Loans (mortgages) 59.4 8.8 13.0 31.3 -21.8 12.8 -7.8 -37.3 -19.1 7

 8 FA643065173 One-to-four-family residential 26.5 -1.0 -6.3 1.6 -5.3 6.0 5.2 -3.9 5.5 8

 9 FA643065473 Multifamily residential 4.6 1.8 7.1 1.5 0.3 -1.9 -1.3 -1.7 -1.4 9

 10 FA643065573 Commercial 28.4 8.1 12.2 28.2 -16.7 8.7 -11.7 -31.8 -23.2 10

 11 FA643092473 Equity in FHLB 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 11

 12 FA643093075 Miscellaneous assets -2.5 -16.0 -7.4 -26.9 -4.7 -24.8 18.9 -5.7 3.6 12

 13 FA644194075 Net increase in liabilities and equity 17.7 -9.1 -3.7 -21.7 39.2 -50.2 95.3 -40.0 31.4 13

 14 FA644190075 Net increase in liabilities 10.7 -3.0 4.6 -11.8 49.5 -54.2 92.8 -40.5 40.8 14

 15 FA642151073 Security repurchase agreements -4.3 -18.6 -39.9 -23.4 10.9 -21.9 82.4 -30.2 60.7 15

 16 FA644122075 Debt securities 23.8 12.9 22.7 17.3 -12.8 24.5 -1.0 -18.7 -11.5 16

 17 FA643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA643163075 Corporate bonds 23.8 12.9 22.7 17.3 -12.8 24.5 -1.0 -18.7 -11.5 18

 19 FA644123075 Loans 0.5 0.4 -1.2 2.7 2.1 -2.0 4.6 0.0 0.1 19

 20 FA643168073 Depository institution loans n.e.c. 0.5 0.4 -1.2 2.7 2.3 -2.0 4.6 0.2 0.4 20

 21 FA643169373 Other loans and advances -0.0 -0.1 0.0 0.0 -0.2 0.0 0.0 -0.2 -0.2 21

 22 FA643193075 Miscellaneous liabilities -9.3 2.3 23.0 -8.4 49.4 -54.8 6.7 8.4 -8.5 22

 23 FA643164103 Net equity issues (corporate equity) 7.0 -6.1 -8.3 -9.9 -10.2 4.0 2.6 0.5 -9.4 23

 24 FA647005005 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 Memo:

 25 FA643065045 Securitized assets included above 16.4 2.3 23.9 11.8 -14.1 -12.4 -1.2 -18.9 -16.3 25

 26 FA643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA643065163 One-to-four-family residential mortgages 6.2 6.3 15.1 6.8 2.5 0.7 9.1 2.9 0.1 27

 28 FA643065443 Multifamily residential mortgages 2.5 1.7 6.0 0.8 0.8 -0.7 -0.4 -1.7 -1.9 28

 29 FA643065543 Commercial mortgages 7.8 -5.7 2.8 4.3 -17.4 -12.4 -9.9 -20.0 -14.5 29

(1) Equity REITs which invest primarily in real estate are included in the nonfinancial corporate business sector F.103 and L.103.
Transactions

Z.1, December 7, 2023 45

F.130 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA666000105 Gross saving less net capital transfers paid (1) 30.5 25.9 50.1 25.9 9.4 18.3 19.4 19.9 20.4 1

 2 FA665013005 Fixed nonresidential investment 50.0 56.0 53.9 55.4 57.0 57.6 59.1 59.6 60.1 2

 3 FA664090005 Net acquisition of financial assets 164.4 -84.6 755.5 -645.8 -138.2 -309.9 1874.7 -6.0 -274.0 3

 4 FA663020003 Checkable deposits and currency 2.2 8.2 23.9 13.6 12.6 -17.4 -64.6 16.3 -26.5 4

 5 FA662051003 Security repurchase agreements -66.7 206.1 276.1 84.3 -59.9 524.0 796.4 -91.0 -134.9 5

 6 FA664022005 Debt securities -174.4 135.8 -126.9 152.8 385.9 131.4 476.4 -48.4 249.2 6

 7 FA663069103 Open market paper 8.1 2.7 23.7 -26.4 31.1 -17.6 37.1 2.8 -17.0 7

 8 FA663061105 Treasury securities -104.3 85.4 22.3 27.4 241.7 50.3 429.1 -23.2 78.5 8

 9 FA663061705 Agency- and GSE-backed securities -22.1 59.6 -120.6 150.1 48.3 160.6 -1.9 -89.0 140.7 9

 10 FA663062003 Municipal securities 6.0 0.7 -3.0 -1.8 20.4 -12.9 -5.2 18.6 0.9 10

 11 FA663063005 Corporate and foreign bonds -62.0 -12.6 -49.4 3.6 44.4 -49.0 17.2 42.4 46.1 11

 12 FA663069005 Loans (other loans and advances) 175.8 -178.6 61.7 -137.0 -57.7 -581.4 -71.2 -20.8 -12.1 12

 13 FA663092305 U.S. direct investment abroad: intercompany debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA663064103 Corporate equities -33.7 -13.7 65.7 -74.7 93.6 -139.3 213.7 88.2 -58.6 14

 15 FA663092103 U.S. direct investment abroad: equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA663090005 Miscellaneous assets 261.2 -242.5 455.0 -685.1 -512.7 -227.2 523.9 49.8 -291.2 16

 17 FA663070605 Receivables due from other brokers and dealers 190.6 -46.1 617.4 -293.1 -349.1 -159.8 291.9 -22.5 -135.2 17

 18 FA663094705 Balances due from holding company parent 39.5 106.3 133.4 117.9 143.8 30.1 2.4 33.0 37.7 18

 19 FA663093005 Other 31.1 -302.6 -295.8 -509.9 -307.4 -97.5 229.6 39.3 -193.7 19

 20 FA664194005 Net increase in liabilities and equity 147.2 -8.6 788.2 -439.1 11.7 -395.0 1752.5 -30.1 -256.8 20

 21 FA664190005 Net increase in liabilities 136.2 -77.9 829.5 -637.0 -155.1 -349.0 1826.2 -16.0 -284.4 21

 22 FA662151003 Security repurchase agreements -203.9 55.7 -187.2 40.3 319.2 50.7 1569.8 143.5 51.4 22

 23 FA663163003 Debt securities (corporate bonds) 33.8 18.4 172.5 -46.4 -102.6 50.0 -27.2 -72.5 39.4 23

 24 FA664123005 Loans 145.1 -43.4 518.6 -188.6 -247.2 -256.4 -144.3 -58.2 -205.2 24

 25 FA663168005 Depository institution loans n.e.c. 39.0 9.3 -11.9 35.7 2.2 11.4 -14.9 -56.7 38.7 25

 26 FA663167005 Other loans and advances 106.0 -52.7 530.5 -224.3 -249.4 -267.8 -129.4 -1.5 -244.0 26

 27 FA663192305 Foreign direct investment: intercompany debt 1.6 -1.0 -1.0 -3.7 -1.3 2.0 -0.8 2.6 -0.4 27

 28 FA663170003 Trade payables 3.9 -2.4 -2.0 -10.7 1.3 1.8 -3.7 14.8 -5.4 28

 29 FA663178003 Taxes payable 0.5 -2.9 -1.5 2.2 -0.9 -11.4 2.0 2.6 1.0 29

 30 FA663190005 Miscellaneous liabilities 155.2 -102.3 330.2 -430.2 -123.6 -185.7 430.4 -48.9 -165.2 30

 31 FA663170605 Payables due to other brokers and dealers 134.2 -32.8 287.3 -271.4 -71.1 -75.9 183.6 -8.2 -93.5 31

 32 FA663194705 Other investment by parent companies 53.3 -51.9 179.0 -186.4 -98.2 -102.2 76.4 -8.7 226.3 32

 33 FA663193005 Other -32.4 -17.6 -136.2 27.6 45.7 -7.7 170.4 -32.0 -298.0 33

 34 FA663181105 Net equity issues 11.0 69.3 -41.3 197.8 166.9 -46.1 -73.7 -14.1 27.7 34

 35 FA663164103 Corporate equities -4.8 -6.9 -28.7 0.1 3.6 -2.7 11.1 21.7 17.0 35

 36 FA663192103 Foreign direct investment: equity 47.4 -25.1 -23.8 -78.0 -53.9 55.4 21.5 65.0 -13.1 36

 37 FA662090003 Proprietors’ net investment 15.8 3.7 -44.7 -4.2 14.4 49.0 32.2 9.1 3.6 37

 38 FA663194605 Equity investment by holding company parents -47.5 97.7 55.8 279.9 202.7 -147.8 -138.4 -109.9 20.2 38

 39 FA663194505 Equity investment by other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 FA667005005 Discrepancy -36.7 46.0 28.8 177.2 102.3 -124.5 -161.9 -63.8 -22.4 40

(1) Net capital transfers paid from table F.5, line 58.
Transactions

46 Z.1, December 7, 2023

F.131 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA736000105 Gross saving 112.5 158.4 145.4 140.9 159.3 188.0 180.9 183.5 183.5 1

 2 FA735013005 Fixed nonresidential investment 36.2 40.2 38.7 39.7 40.9 41.4 42.6 43.1 43.4 2

 3 FA734090005 Net acquisition of financial assets 133.6 91.7 25.8 84.9 101.5 154.5 207.1 9.4 278.7 3

 4 FA733091003 Foreign deposits -1.8 -8.8 11.3 -56.4 17.5 -7.5 9.8 2.1 10.6 4

 5 FA733030005 Time and savings deposits -96.5 78.3 -133.0 161.2 78.6 206.5 45.0 -80.8 -124.7 5

 6 FA732051003 Security repurchase agreements -15.3 10.5 -33.3 23.9 21.7 29.5 -2.3 -0.3 -2.6 6

 7 FA734022605 Debt securities 29.4 58.2 46.6 97.6 73.6 15.0 -71.5 1.5 54.9 7

 8 FA733061103 Treasury securities 34.2 56.4 51.2 100.2 64.8 9.3 -57.2 5.1 37.6 8

 9 FA733061703 Agency- and GSE-backed securities -8.4 -3.1 -4.4 -2.7 -3.4 -2.0 -1.9 -0.8 -0.6 9

 10 FA733063003 Corporate and foreign bonds 3.6 5.0 -0.1 0.1 12.3 7.7 -12.5 -2.8 17.8 10

 11 FA733069005 Loans (other loans and advances) 23.6 21.0 81.2 -20.1 19.6 3.3 -23.8 20.8 -18.6 11

 12 FA733092305 U.S. direct investment abroad: intercompany debt -3.2 -4.1 -7.3 2.4 -12.9 1.5 6.9 -3.4 17.5 12

 13 FA733092103 U.S. direct investment abroad: equity 30.3 23.2 43.9 38.3 5.1 5.6 52.4 35.5 62.8 13

 14 FA733094635 Equity investment in affiliates 77.1 -41.0 -203.1 26.0 -1.5 14.5 109.8 -73.9 -1.5 14

 15 FA733040005 Life insurance reserves 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 15

 16 FA733090005 Miscellaneous assets 86.0 -49.7 215.4 -191.9 -104.2 -117.9 76.8 103.9 276.3 16

 17 FA733094735 Other investment in affiliates 87.4 -50.3 199.2 -184.4 -119.7 -96.3 83.9 111.9 256.3 17

 18 FA733093005 Other -1.4 0.6 16.2 -7.5 15.4 -21.6 -7.0 -8.0 20.0 18

 19 FA734194005 Net increase in liabilities and equity -47.2 104.2 -63.2 140.0 131.6 208.4 -68.3 -166.6 12.0 19

 20 FA734190005 Net increase in liabilities 99.6 118.6 130.1 46.3 67.0 231.0 66.9 11.3 32.5 20

 21 FA732151003 Security repurchase agreements 0.0 -0.0 0.2 -0.2 0.0 -0.1 0.1 -0.1 0.3 21

 22 FA734122005 Debt securities 65.0 -3.2 -55.4 -57.8 -176.1 276.6 24.8 -26.9 -215.8 22

 23 FA733169103 Commercial paper 3.0 1.4 -2.6 5.4 1.5 1.4 -2.2 13.6 -5.5 23

 24 FA733163005 Corporate bonds 62.1 -4.6 -52.8 -63.2 -177.6 275.2 26.9 -40.5 -210.3 24

 25 FA733192305 Foreign direct investment: intercompany debt (2) 2.9 -35.4 -13.6 -38.2 -35.2 -54.7 3.3 9.6 21.1 25

 26 FA733178013 Taxes payable -0.3 -0.3 0.0 -1.3 0.0 0.0 0.0 -2.5 0.0 26

 27 FA733190005 Miscellaneous liabilities 32.0 157.6 198.9 143.8 278.3 9.2 38.8 31.2 226.9 27

 28 FA733194735 Balances due to affiliates 33.5 113.9 203.8 101.5 225.7 -75.2 60.6 28.2 205.6 28

 29 FA733193005 Other -1.5 43.6 -4.9 42.4 52.6 84.4 -21.9 2.9 21.3 29

 30 FA733181105 Net equity issuance -146.8 -14.4 -193.3 93.7 64.6 -22.6 -135.3 -178.0 -20.5 30

 31 FA733164103 Corporate equity issues -110.1 -77.5 -234.2 -43.8 -23.5 -8.5 -113.3 -105.2 -23.8 31

 32 FA733192103 Foreign direct investment: equity (2) -36.8 63.1 41.0 137.5 88.1 -14.1 -21.9 -72.7 3.2 32

 33 FA737005005 Discrepancy -104.5 130.7 17.8 156.3 148.4 200.4 -137.2 -35.6 -126.7 33

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.

(2) Investment in U.S. Intermediate Holding Companies.
Transactions

Z.1, December 7, 2023 47

F.132 Other Financial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA506006403 Gross saving -61.8 -71.1 -34.1 -69.2 -79.0 -102.4 -102.4 -102.4 -102.4 1

 2 FA504090005 Net acquisition of financial assets 179.2 -111.9 14.9 -116.0 -161.7 -184.8 88.5 5.7 248.7 2

 3 FA503020005 Checkable deposits and currency 72.0 -22.4 78.2 -76.9 -65.8 -25.3 -15.2 -99.9 -95.7 3

 4 FA503034005 Money market fund shares 172.1 -200.9 -247.6 -201.3 -208.6 -146.3 267.3 117.3 139.0 4

 5 FA502051005 Security repurchase agreements -1.8 0.3 0.9 2.9 -0.9 -1.9 4.3 -2.7 3.1 5

 6 FA504022005 Debt securities -67.8 122.6 30.4 384.9 62.5 12.6 -223.2 -34.1 92.2 6

 7 FA503069105 Open market paper 13.6 132.6 12.6 417.6 76.3 24.1 -256.1 -69.8 109.4 7

 8 FA503061105 Treasury securities -79.4 -7.5 -10.3 -30.5 14.0 -3.1 22.1 37.2 -13.1 8

 9 FA503063005 Corporate and foreign bonds 0.1 -1.3 33.0 -2.2 -27.8 -8.4 10.8 -1.4 -4.2 9

 10 FA503062003 Municipal securities -2.2 -1.2 -4.9 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA503069005 Loans (other loans and advances) -3.7 -11.9 57.2 -118.3 2.0 11.3 23.7 38.2 14.5 11

 12 FA503064105 Corporate equities -8.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA503094505 Equity investment in affiliates 16.6 0.9 94.7 -106.6 44.1 -28.7 30.9 -11.8 93.2 13

 14 FA503093023 Miscellaneous assets 0.6 -0.3 1.1 -0.8 4.9 -6.4 0.7 -1.3 2.5 14

 15 FA504194005 Net increase in liabilities and equity 241.1 -40.7 49.0 -46.8 -82.8 -82.4 190.9 108.1 351.1 15

 16 FA504190005 Net increase in liabilities 332.3 -34.9 49.0 -33.5 -82.8 -72.2 190.9 116.1 348.1 16

 17 FA504122005 Debt securities 18.4 -3.2 93.1 -85.8 0.4 -20.4 26.9 -58.8 152.3 17

 18 FA503169105 Open market paper 18.4 -3.2 93.1 -85.8 0.4 -20.4 26.9 -58.8 152.3 18

 19 FA503163003 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA504123005 Loans 57.9 -35.8 47.2 -97.5 -50.1 -42.7 7.2 -58.9 -108.7 20

 21 FA713068505 Depository institution loans n.e.c. -19.6 -5.7 -8.9 -4.5 -4.0 -5.5 -3.6 -4.3 -5.1 21

 22 FA503169005 Other loans and advances 77.6 -30.0 56.2 -93.0 -46.0 -37.2 10.8 -54.7 -103.6 22

 23 FA503192305 Foreign direct investment: intercompany debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA503190005 Miscellaneous liabilities 256.0 4.1 -91.3 149.8 -33.1 -9.1 156.8 233.8 304.6 24

 25 FA663070675 Securities lending (net) 56.4 -13.4 330.1 -21.7 -278.0 -83.9 108.4 -14.4 -41.7 25

 26 FA503193005 Other 199.6 17.5 -421.4 171.5 244.9 74.9 48.4 248.2 346.3 26

 27 FA503181105 Net equity issuance -91.2 -5.9 -0.0 -13.3 0.0 -10.2 0.0 -8.0 2.9 27

 28 FA503164105 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FA503192103 Foreign direct investment: equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 FA503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA503194205 Equity in Federal Reserve facilities (2) -91.2 -5.9 -0.0 -13.3 0.0 -10.2 0.0 -8.0 2.9 31

(1) Includes funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, funds associated with the Public-Private Investment Program (PPIP), Federal Reserve

 funding, credit, and liquidity facility special purpose vehicles (SPV) created in response to the 2008 Financial Crisis and COVID-19 pandemic, and U.S. central clearing parties.

(2) U.S. Treasury Exchange Stabilization Fund Economic Recovery Programs investment in Federal Reserve SPVs.
Transactions

48 Z.1, December 7, 2023

F.133 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA266905005 Foreign income from U.S. 4690.3 5427.5 5291.8 5471.7 5492.0 5454.6 5513.8 5441.4 5537.4 1

 2 FA266903001 U.S. imports 3408.3 3966.2 3927.3 4069.8 3976.5 3891.0 3890.5 3767.9 3819.3 2

 3 FA266904101 U.S. income payments to rest of world 928.6 1070.7 1006.2 1027.4 1094.3 1155.2 1231.8 1279.7 1325.8 3

 4 FA266400101 Curr. taxes and trans. payments to rest of world 353.4 390.6 358.3 374.5 421.2 408.4 391.6 393.9 392.4 4

 5 FA266900005 Foreign outlays to U.S. 3842.5 4441.7 4176.7 4460.6 4557.4 4572.1 4641.3 4604.2 4717.1 5

 6 FA266903011 U.S. exports 2550.0 2995.0 2837.6 3044.3 3084.5 3013.8 3064.8 2961.8 3037.7 6

 7 FA266904001 U.S. income receipts from rest of world 1112.1 1252.6 1154.8 1229.4 1285.5 1340.7 1390.7 1452.7 1493.8 7

 8 FA266400201 Curr. taxes and trans. payments from rest of world 180.3 194.0 184.2 186.9 187.4 217.5 185.8 189.7 185.7 8

 9 FA265440005 - Net capital transfers paid (1) -3.5 -5.1 -8.4 -13.8 16.3 -14.5 -23.9 -11.3 -8.9 9

 10 FA266000105 Gross saving less net capital transfers paid (2) 851.3 990.9 1123.5 1024.9 918.3 897.0 896.5 848.5 829.2 10

 11 FA265090005 Gross investment 572.6 479.8 477.2 124.6 551.5 765.9 1537.8 335.8 802.7 11

 12 FA265420005 Nonproduced nonfinancial assets -0.2 -0.2 -0.3 -0.2 -0.1 -0.1 -0.2 -0.2 0.0 12

 13 FA265000005 Net lending (+) or net borrowing (-) 572.7 480.0 477.5 124.9 551.6 766.0 1538.0 336.0 802.7 13

 14 FA264090005 Net acquisition of financial assets 1828.4 1524.9 1881.2 1862.2 2174.7 181.4 2547.1 1359.4 1974.5 14

 15 FA263011205 Monetary gold (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA313111303 SDR allocations 112.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA264016005 Net interbank assets 70.5 193.0 301.9 -0.8 351.1 119.8 521.4 -272.5 -53.7 17

 18 FA263020005 U.S. checkable deposits and currency 66.4 13.6 117.7 -68.6 14.0 -8.8 29.1 50.7 -47.4 18

 19 FA263030005 U.S. time deposits 37.2 -12.6 208.1 -126.6 16.2 -148.0 -37.3 11.1 -51.0 19

 20 FA263034003 Money market fund shares 27.5 19.3 25.1 25.1 7.3 19.5 66.1 31.6 31.8 20

 21 FA262051005 Security repurchase agreements 283.4 48.8 -158.9 136.0 165.6 52.7 453.5 -316.1 779.2 21

 22 FA264022005 Debt securities 672.3 842.4 1278.8 283.4 1068.7 738.7 776.6 1222.2 694.7 22

 23 FA263069103 Open market paper 2.0 53.8 143.4 -158.6 172.6 58.0 -59.4 94.4 -121.9 23

 24 FA263061105 Treasury securities 605.8 417.6 700.1 113.7 533.7 323.0 485.7 605.1 460.2 24

 25 FA263061705 Agency- and GSE-backed securities -9.8 192.9 -48.0 344.8 189.9 285.1 165.4 173.9 164.6 25

 26 FA263062003 Municipal securities 1.7 4.2 11.6 -0.4 4.0 1.5 3.8 7.0 -24.5 26

 27 FA263063005 U.S. corporate bonds 72.7 173.9 471.8 -16.0 168.5 71.1 181.0 341.8 216.3 27

 28 FA263069005 Other loans and advances 146.5 93.3 160.9 42.9 3.8 165.5 -34.3 15.0 30.8 28

 29 FA263092305 Foreign direct investment: intercompany debt (4) -0.5 28.6 22.4 -3.0 85.9 8.9 -28.4 15.3 -27.1 29

 30 FA263064105 U.S. corporate equities -112.4 -167.2 -774.0 890.7 -39.4 -746.0 305.5 425.0 -135.4 30

 31 FA263092101 Foreign direct investment: equity (4) 411.3 335.5 304.9 363.6 377.5 295.9 467.2 291.4 411.3 31

 32 FA263064203 Mutual fund shares 31.8 78.1 282.5 278.3 11.0 -259.2 -74.9 -155.4 129.9 32

 33 FA543141905 Life insurance reserves -1.4 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 33

 34 FA543151905 Pension entitlements -1.6 0.5 0.5 0.5 0.5 0.5 0.1 0.1 0.0 34

 35 FA263070005 Trade receivables 80.7 44.3 35.5 56.2 43.8 41.8 34.2 39.6 23.5 35

 36 FA263090005 Miscellaneous assets 3.8 7.2 75.6 -15.6 68.8 -100.0 68.3 1.4 188.0 36

 37 FA264194005 Net increase in liabilities and equity 1255.7 1044.9 1403.7 1737.3 1623.1 -584.5 1009.1 1023.4 1171.8 37

 38 FA264190005 Net increase in liabilities 681.5 413.3 508.4 676.8 549.5 -81.7 915.8 661.2 801.1 38

 39 FA263111005 U.S. official reserve assets 114.0 5.8 3.7 4.7 3.2 11.6 3.1 1.1 -1.9 39

 40 FA263191005 U.S. private deposits 27.9 77.9 162.1 77.5 172.4 -100.6 185.0 -152.9 61.2 40

 41 FA262151003 Security repurchase agreements -106.1 -11.9 -125.3 -6.5 -77.4 161.7 443.1 583.6 632.5 41

 42 FA264122005 Debt securities 482.5 166.0 376.1 211.6 316.1 -239.8 -41.8 179.8 -63.6 42

 43 FA263169105 Commercial paper 105.0 -113.8 -332.1 -101.0 -10.8 -11.4 -151.0 -21.4 -22.4 43

 44 FA263163005 Bonds 377.5 279.8 708.2 312.6 326.9 -228.4 109.3 201.2 -41.2 44

 45 FA264123005 Loans 150.9 123.6 107.0 196.5 189.2 1.7 127.3 26.0 78.5 45

 46 FA263168005 Depository institution loans n.e.c. 152.5 114.3 84.6 178.8 150.2 43.4 137.8 39.5 80.4 46

 47 FA263169005 Other loans and advances -1.7 9.3 22.4 17.6 39.0 -41.7 -10.5 -13.6 -1.9 47

 48 FA263192305 U.S. direct investment abroad: intercompany debt (4) -64.0 -41.4 -157.6 117.6 -147.1 21.6 150.0 -67.6 119.2 48

 49 FA263140005 Life insurance reserves 20.7 -8.1 -8.1 -8.1 -8.1 -8.1 4.7 2.8 1.6 49

 50 FA263150005 Pension entitlements 42.4 86.3 86.3 86.3 86.3 86.3 25.3 10.1 45.3 50

 51 FA263170005 Trade payables 3.4 -2.2 -20.9 5.8 9.2 -2.8 -6.9 -2.9 -1.5 51

 52 FA263190005 Miscellaneous liabilities 9.9 17.2 85.1 -8.7 5.7 -13.2 26.1 81.1 -70.1 52

 53 FA263181105 Net equity issues 574.2 631.7 895.3 1060.5 1073.7 -502.9 93.3 362.2 370.7 53

 54 FA263164100 Foreign corporate equities (5) 197.3 185.7 330.5 706.3 648.4 -942.4 -183.2 29.8 122.2 54

 55 FA263192101 U.S. direct investment abroad: equity (4) 375.8 443.6 563.6 348.0 423.9 438.9 275.4 326.1 242.8 55

 56 FA313092803 U.S. equity in IBRD, etc. 1.2 2.4 1.2 6.3 1.3 0.7 1.1 6.3 5.7 56

 57 FA267005005 Discrepancy (FOF basis) 278.7 511.1 646.3 900.3 366.8 131.1 -641.3 512.7 26.5 57

 Memo:

 58 FA266903005 Net U.S. exports, NIPA basis -858.2 -971.1 -1089.7 -1025.6 -892.0 -877.2 -825.7 -806.1 -781.6 58

 59 FA266904005 + Net U.S. income receipts (6) 183.5 181.9 148.6 202.0 191.3 185.6 158.9 173.1 168.0 59

 60 FA266400101 - Curr. taxes and trans. payments to rest of world 353.4 390.6 358.3 374.5 421.2 408.4 391.6 393.9 392.4 60

 61 FA266400201 + Curr. taxes and trans. payments from rest of world 180.3 194.0 184.2 186.9 187.4 217.5 185.8 189.7 185.7 61

 62 FA266000005 = Balance on current account, NIPAs -847.8 -985.8 -1115.1 -1011.1 -934.6 -882.5 -872.6 -837.2 -820.3 62

(1) Table F.5, line 67.

(2) Line 1 minus line 5 minus line 9. Also equal to line 62 with the sign reversed minus line 9.

(3) U.S. net sales, sign reversed.

(4) Direct investment reported at market value. Excludes capital gains and losses.

(5) Includes American Depositary Receipts (ADRs).

(6) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
Transactions

Z.1, December 7, 2023 49

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893111005 Net change in liabilities 226.8 5.8 3.7 4.7 3.2 11.6 3.1 1.1 -1.9 1

 2 FA313111303 Federal government: SDR allocations 112.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA263111005 Rest of the world 114.0 5.8 3.7 4.7 3.2 11.6 3.1 1.1 -1.9 3

 4 FA313011303 SDR holdings 113.7 5.0 6.1 6.1 2.8 4.9 3.9 3.2 3.3 4

 5 FA263111403 Reserve position in IMF 0.5 0.8 -2.4 -1.5 0.5 6.6 -0.8 -2.5 -5.6 5

 6 FA263111503 Other reserves -0.2 0.0 0.0 0.1 -0.2 0.1 0.1 0.4 0.4 6

 7 FA893011005 Net change in assets 226.8 5.8 3.7 4.7 3.2 11.6 3.1 1.1 -1.9 7

 8 FA313011005 Federal government 114.1 5.8 3.7 4.6 3.3 11.6 3.1 0.9 -2.1 8

 9 FA313011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA313011303 SDR holdings 113.7 5.0 6.1 6.1 2.8 4.9 3.9 3.2 3.3 10

 11 FA313011405 Reserve position in IMF 0.5 0.8 -2.4 -1.5 0.5 6.6 -0.8 -2.5 -5.6 11

 12 FA313011505 Other reserves -0.1 0.0 0.0 0.1 -0.1 0.1 0.0 0.2 0.2 12

 13 FA263011005 Rest of the world 112.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA263011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA313111303 SDR allocations 112.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA713011005 Monetary authority -0.1 0.0 0.0 0.1 -0.1 0.1 0.0 0.2 0.2 16

 17 FA713011203 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA713011405 Reserve position in IMF -0.0 0.0 0.0 0.1 0.0 -0.0 0.0 0.0 0.0 18

 19 FA713011505 Other reserves -0.1 0.0 0.0 0.1 -0.1 0.1 0.0 0.2 0.2 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 FA713014003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA713014003 Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 FA313112003 Liab.: Federal government -0.1 -0.4 0.0 0.0 -1.7 0.0 0.0 0.0 0.0 3

 4 FA713012003 Asset: Monetary authority 0.4 0.5 -0.0 0.7 0.7 0.7 0.7 0.7 2.8 4

 5 FA903012005 Discrepancy (seigniorage) -0.5 -1.0 0.0 -0.7 -2.4 -0.7 -0.7 -0.7 -2.8 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA263191005 Total rest of the world liability 27.9 77.9 162.1 77.5 172.4 -100.6 185.0 -152.9 61.2 1

 Held by:

 2 FA153091003 Household sector -0.2 3.4 8.3 4.6 6.2 -5.5 -2.5 -4.7 -2.9 2

 3 FA103091003 Nonfinancial corporate business 31.3 24.4 77.2 -100.1 10.8 109.5 -15.4 89.2 32.2 3

 4 FA633091003 Money market funds -0.5 1.1 4.1 0.1 -1.0 1.2 1.2 5.1 31.9 4

 5 FA733091003 Holding companies -1.8 -8.8 11.3 -56.4 17.5 -7.5 9.8 2.1 10.6 5

 6 FA903091005 Discrepancy--unallocated assets -0.9 57.7 61.1 229.4 138.9 -198.4 191.8 -244.6 -10.6 6
Transactions

50 Z.1, December 7, 2023

F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA794110005 Net change in liabilities 697.3 -797.5 448.5 -3039.9 109.6 -708.3 4102.5 -1317.3 -284.2 1

 2 FA714110005 Monetary authority 640.6 -963.2 -162.2 -2572.1 -351.1 -767.6 2012.2 -553.2 57.3 2

 3 FA764110005 U.S.-chartered depository institutions -48.0 -85.2 96.6 -477.2 158.7 -119.0 1372.0 -336.7 -29.6 3

 4 FA754110005 Foreign banking offices in U.S. 100.3 262.6 448.8 98.4 312.1 191.2 592.3 -383.0 -279.6 4

 5 FA744110005 Banks in U.S.-affiliated areas 0.0 -0.0 -0.2 0.1 -5.6 5.6 0.0 0.5 -0.8 5

 6 FA474110005 Credit unions 4.4 -11.6 65.5 -89.1 -4.5 -18.5 125.8 -44.9 -31.6 6

 7 FA894010005 Net change in assets 679.8 -774.4 121.4 -2570.3 10.2 -659.0 3768.9 -993.0 -317.3 7

 8 FA714010005 Monetary authority -31.3 -4.2 -18.3 2.7 10.2 -11.3 1235.3 -167.4 -320.9 8

 9 FA763020005 U.S.-chartered depository institutions 379.8 -955.7 -888.5 -2093.0 -446.3 -395.0 1218.3 -330.0 135.0 9

 10 FA753020005 Foreign banking offices in U.S. 227.8 128.7 815.0 -220.8 213.2 -292.6 658.2 -183.1 -58.8 10

 11 FA743013003 Banks in U.S.-affiliated areas 7.2 -15.9 -34.4 -5.9 -27.7 4.3 2.1 11.0 -11.9 11

 12 FA473013005 Credit unions 25.8 -120.3 -54.3 -252.4 -90.3 -84.3 133.7 -51.1 -7.0 12

 13 FA264016005 Rest of the world 70.5 193.0 301.9 -0.8 351.1 119.8 521.4 -272.5 -53.7 13

 14 FA904010005 Discrepancy 17.5 -23.1 327.1 -469.6 99.4 -49.3 333.6 -324.3 33.1 14

 Memo:

 Vault cash:

 15 FA703025005 Liab.: Monetary authority -8.7 -3.8 25.3 -4.1 -28.7 -7.6 16.5 -5.7 -21.8 15

 16 FA763025000 Asset: U.S.-chartered depository institutions -8.8 -3.7 25.6 -4.1 -28.7 -7.6 16.5 -5.8 -21.8 16

 17 FA753025003 Foreign banking offices in U.S. 0.1 -0.1 -0.3 -0.0 0.0 0.0 -0.0 0.0 0.0 17

 Depository institution reserves:

 18 FA713113003 Liab.: Monetary authority 649.3 -959.5 -187.5 -2568.0 -322.4 -759.9 1995.7 -547.4 79.1 18

 19 FA763013005 Asset: U.S.-chartered depository institutions 388.6 -952.0 -914.1 -2088.8 -417.6 -387.3 1201.7 -324.2 156.7 19

 20 FA753013003 Foreign banking offices in U.S. 227.8 128.7 815.3 -220.8 213.2 -292.6 658.2 -183.1 -58.8 20

 21 FA743013003 Banks in U.S.-affiliated areas 7.2 -15.9 -34.4 -5.9 -27.7 4.3 2.1 11.0 -11.9 21

 22 FA473013005 Credit unions 25.8 -120.3 -54.3 -252.4 -90.3 -84.3 133.7 -51.1 -7.0 22

 Other transactions with the monetary authority

 23 FA714010075 Liab.: U.S.-chartered depository institutions -31.0 -4.1 -18.2 2.8 10.2 -11.2 1235.3 -167.4 -320.9 23

 24 FA713068743 Credit unions -0.4 -0.0 -0.1 -0.1 -0.0 -0.0 0.0 0.0 0.0 24

 25 FA714010005 Asset: Monetary authority -31.3 -4.2 -18.3 2.7 10.2 -11.3 1235.3 -167.4 -320.9 25

 26 FA713022003 Federal Reserve float -0.0 0.0 -0.4 -0.4 1.6 -0.7 0.7 0.2 -0.1 26

 27 FA713068705 Loans to depository institutions -31.3 -4.2 -17.9 3.1 8.6 -10.6 1234.6 -167.5 -320.8 27

 Transactions with banks in foreign countries (net):

 28 FA764116205 Liab.: U.S.-chartered depository institutions (net) -8.5 -69.6 -87.5 -67.8 18.0 -141.1 -71.9 87.0 225.8 28

 29 FA763192605 Due to foreign affiliates 36.1 -39.3 -52.9 4.9 -35.4 -74.0 -50.5 -87.4 153.7 29

 30 FA763092605 - Due from foreign affiliates 44.5 30.3 34.7 72.8 -53.4 67.1 21.4 -174.5 -72.1 30

 31 FA754116205 Foreign banking offices in U.S. (net) 100.5 259.3 417.7 84.8 310.5 224.3 588.0 -362.5 -279.2 31

 32 FA753192605 Due to foreign affiliates 73.2 227.9 285.2 117.8 271.1 237.3 414.6 -112.4 -40.6 32

 33 FA753092605 - Due from foreign affiliates -27.3 -31.5 -132.4 33.0 -39.4 12.9 -173.4 250.1 238.6 33

 34 FA264116205 Less: Deposits at foreign banks 5.0 -3.0 13.8 1.6 -11.9 -15.5 8.1 -5.7 5.8 34

 35 FA764016205 U.S.-chartered depository institutions 4.1 -0.2 13.4 -1.8 -9.8 -2.5 -2.3 -10.3 3.3 35

 36 FA754016205 Foreign banking offices in U.S. 0.9 -2.8 0.4 3.3 -2.1 -13.0 10.4 4.6 2.5 36

 37 FA264135125 Loans to foreign banks 7.5 7.3 22.5 31.0 -9.8 -14.6 -14.1 -7.4 1.7 37

 38 FA764035125 U.S.-chartered depository institutions 5.7 5.2 28.1 15.9 -14.4 -8.9 -13.2 -3.5 0.5 38

 39 FA754035125 Foreign banking offices in U.S. 1.9 2.1 -5.7 15.0 4.6 -5.7 -0.9 -3.9 1.2 39

 40 FA264035125 Plus: Loans from foreign banks -9.0 7.5 8.0 14.7 0.9 6.5 -0.7 -10.1 7.2 40

 41 FA274135123 U.S.-chartered depository institutions -8.4 6.1 10.4 5.8 1.5 6.7 -5.6 -0.7 2.5 41

 42 FA284135125 Foreign banking offices in U.S. -0.6 1.4 -2.4 8.9 -0.6 -0.2 4.9 -9.4 4.7 42

 43 FA264016005 Asset: Rest of the world (1) 70.5 193.0 301.9 -0.8 351.1 119.8 521.4 -272.5 -53.7 43

 Transactions between U.S. depository institutions (net):

 44 FA764112005 U.S.-chartered depository institutions (net) 9.6 -12.6 233.4 -403.8 104.8 15.2 198.8 -269.4 66.8 44

 45 FA764112205 Due to (3): 11.7 -12.4 256.9 -373.7 116.8 -49.8 218.0 -268.4 66.7 45

 46 FA754012205 Foreign banking offices in U.S. -1.1 -1.0 -4.8 7.0 7.3 -13.3 10.3 11.4 1.2 46

 47 FA743020005 Banks in U.S.-affiliated areas -0.0 0.0 0.2 -0.1 5.6 -5.6 -0.0 -0.5 0.8 47

 48 FA474012205 Credit unions -4.8 11.6 -65.6 89.0 4.5 18.5 -125.8 44.9 31.6 48

 49 FA754112205 - Due from: Foreign banking offices in U.S. 2.1 0.2 23.5 30.1 12.0 -64.9 19.2 1.0 -0.2 49

 50 FA904010005 Unallocated (2) 17.5 -23.1 327.1 -469.6 99.4 -49.3 333.6 -324.3 33.1 50

(1) Sum of lines 28 and 31 less line 34 and line 37 plus line 40.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 13 above. However, the unallocated amount (line 50), which is due to inconsistencies

 in source data, appears on line 14 as the discrepancy between liabilities and assets.

(3) Sum of lines 46, 47, 48, and 50.
Transactions

Z.1, December 7, 2023 51

F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA793120005 Net change in liabilities 231.3 415.9 1991.1 1695.2 -496.7 -1526.0 -1131.5 930.1 70.5 1

 2 FA713120005 Monetary authority -1128.2 79.1 1213.7 702.0 -905.7 -693.7 -989.4 1153.7 553.8 2

 3 FA713123005 Federal government cash and deposits -1322.4 40.6 1017.3 742.0 -865.8 -731.2 -1079.4 1171.5 685.2 3

 4 FA713124005 Due to government-sponsored enterprises -17.1 -11.9 -16.6 -15.4 -22.4 6.9 19.1 -17.4 9.5 4

 5 FA713129005 Due to other financial business 67.6 -25.4 77.9 -82.7 -59.7 -37.0 -17.3 -91.3 -97.3 5

 6 FA713122605 Deposits due to foreign -12.5 -0.4 -7.4 -0.1 -0.1 6.0 3.0 0.1 -0.1 6

 7 FA713125005 Currency outside banks 156.2 76.1 142.5 58.2 42.3 61.6 85.1 90.7 -43.6 7

 8 FA763127005 U.S.-chartered depository institutions 1249.3 340.7 616.7 930.2 446.0 -630.1 -228.4 -217.3 -523.6 8

 9 FA763123005 Federal government deposits -0.1 0.1 0.3 0.6 1.0 -1.7 15.8 -0.3 2.0 9

 10 FA763128000 State and local government deposits 115.9 14.6 25.2 53.3 -16.2 -3.7 0.3 -11.5 7.2 10

 11 FA763122605 Deposits due to foreign 20.6 0.5 38.6 -78.4 66.5 -24.6 19.6 -23.2 -2.3 11

 12 FA763129205 Private domestic deposits 1113.0 325.5 552.6 954.6 394.8 -600.1 -264.2 -182.2 -530.5 12

 13 FA753127005 Foreign banking offices in U.S. 25.7 -12.6 102.0 77.6 -66.3 -163.4 42.3 30.2 61.2 13

 14 FA753122603 Deposits due to foreign 10.0 -21.6 16.9 -1.7 -66.3 -35.1 -20.7 26.3 -6.2 14

 15 FA753129205 Private domestic deposits 15.7 9.0 85.1 79.3 -0.1 -128.3 63.1 4.0 67.4 15

 16 FA743127003 Banks in U.S.-affiliated areas 7.3 -6.2 -25.1 5.8 10.3 -15.6 -4.1 4.1 -2.6 16

 17 FA473127003 Credit unions 77.1 14.8 83.8 -20.4 19.1 -23.1 48.1 -40.7 -18.3 17

 18 FA793120005 Net change in assets 231.3 415.9 1991.1 1695.2 -496.7 -1526.0 -1131.5 930.1 70.5 18

 19 FA153020005 Household sector 971.1 390.2 695.8 1634.8 639.2 -1409.0 -155.0 26.6 -685.5 19

 20 FA143020005 Nonfinancial business 343.0 3.0 211.9 -596.8 -164.4 561.3 118.3 -276.6 298.1 20

 21 FA103020005 Corporate 264.8 -39.5 88.0 -645.9 -141.6 541.3 110.2 -289.9 293.2 21

 22 FA113020005 Noncorporate 78.2 42.5 123.9 49.1 -22.9 19.9 8.1 13.3 4.9 22

 23 FA313020005 Federal government -1323.6 42.6 1168.1 579.7 -722.4 -855.0 -897.7 974.5 853.2 23

 24 FA213020005 State and local governments 115.9 14.6 25.2 53.3 -16.2 -3.7 0.3 -11.5 7.2 24

 25 FA793020005 Domestic financial sectors 58.1 -47.9 -83.1 -69.8 -102.2 63.7 -60.2 -30.0 -188.0 25

 26 FA513020005 Property-casualty insurance companies 22.5 -22.4 -76.6 -22.9 1.4 8.6 -22.3 10.0 -21.5 26

 27 FA543020005 Life insurance companies -8.3 -3.8 -32.8 14.1 4.7 -1.4 13.3 63.0 -40.8 27

 28 FA573020005 Private pension funds 4.5 -0.5 0.0 -0.3 -0.8 -1.1 0.7 0.5 -0.3 28

 29 FA343020033 Federal government retirement funds 0.2 -0.9 -0.9 -0.9 -0.9 -0.9 -0.8 0.0 0.0 29

 30 FA223020043 State and local govt. retirement funds -0.1 -2.1 -3.7 1.5 -12.2 5.9 1.0 24.6 4.8 30

 31 FA403020005 Government-sponsored enterprises -29.9 6.5 -40.5 7.3 -38.2 97.4 18.4 -41.0 -11.4 31

 32 FA613020003 Finance companies -3.7 -9.7 -30.1 -2.7 -10.2 4.4 3.1 3.6 4.0 32

 33 FA643020073 Mortgage REITs -1.3 -0.7 -0.6 -2.6 7.1 -6.6 6.2 -7.0 -0.4 33

 34 FA663020003 Brokers and dealers 2.2 8.2 23.9 13.6 12.6 -17.4 -64.6 16.3 -26.5 34

 35 FA503020005 Other financial business 72.0 -22.4 78.2 -76.9 -65.8 -25.3 -15.2 -99.9 -95.7 35

 36 FA263020005 Rest of the world 66.4 13.6 117.7 -68.6 14.0 -8.8 29.1 50.7 -47.4 36

 37 FA263027003 Checkable deposits 18.1 -21.5 48.0 -80.2 0.1 -53.8 1.9 3.2 -8.7 37

 38 FA263025003 Currency 48.3 35.0 69.7 11.6 13.9 45.0 27.2 47.5 -38.8 38

 39 FA903020005 Mail float 0.4 -0.3 -144.6 162.5 -144.6 125.7 -166.3 196.4 -167.1 39
Transactions

52 Z.1, December 7, 2023

F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA703130005 Net change in liabilities 758.2 -617.3 348.1 -1403.4 -1170.5 -243.4 -1597.9 542.4 222.3 1

 2 FA763130005 U.S.-chartered depository institutions 631.5 -767.5 110.3 -1581.9 -1269.1 -329.2 -1429.3 468.5 229.1 2

 3 FA753130005 Foreign banking offices in U.S. 4.2 104.2 181.1 108.1 45.9 81.7 -163.3 39.2 -56.1 3

 4 FA743130003 Banks in U.S.-affiliated areas -2.2 -2.0 -3.4 -4.9 11.0 -10.7 3.8 -2.6 3.2 4

 5 FA473130005 Credit unions 124.8 48.0 60.1 75.4 41.7 14.8 -9.0 37.3 46.1 5

 6 FA703130005 Net change in assets 758.2 -617.3 348.1 -1403.4 -1170.5 -243.4 -1597.9 542.4 222.3 6

 7 FA153030005 Household sector 779.7 -793.2 85.6 -1291.9 -1469.3 -497.3 -1777.2 -57.7 177.2 7

 8 FA143030005 Nonfinancial business 101.0 84.7 178.0 -82.5 121.6 121.6 19.6 513.4 109.9 8

 9 FA103030003 Corporate 5.6 13.3 3.7 -80.8 124.7 5.8 -88.6 467.2 94.8 9

 10 FA113030003 Noncorporate 95.4 71.3 174.3 -1.7 -3.1 115.8 108.2 46.2 15.1 10

 11 FA313030003 Federal government 1.1 -1.0 0.2 -3.2 -0.1 -0.9 1.0 -0.6 0.2 11

 12 FA213030000 State and local governments -30.8 -12.4 5.4 -69.5 -12.4 26.9 3.9 45.7 -28.7 12

 13 FA793030005 Domestic financial sectors -129.9 117.2 -129.2 170.2 173.5 254.2 192.1 30.5 14.6 13

 14 FA573030005 Private pension funds 0.5 1.0 0.7 1.1 1.0 1.1 1.1 1.1 0.9 14

 15 FA223030043 State and local govt. retirement funds 0.1 4.0 -8.9 6.3 -6.6 25.3 -13.5 -11.9 0.1 15

 16 FA633030000 Money market funds -20.5 46.5 98.8 -1.5 118.1 -29.5 141.7 91.7 134.0 16

 17 FA403030005 Government-sponsored enterprises -2.2 16.4 3.5 11.3 13.0 37.6 8.5 19.6 -7.5 17

 18 FA613030003 Finance companies -11.2 -29.0 -90.3 -8.2 -30.6 13.2 9.3 10.9 11.9 18

 19 FA733030005 Holding companies -96.5 78.3 -133.0 161.2 78.6 206.5 45.0 -80.8 -124.7 19

 20 FA263030005 Rest of the world 37.2 -12.6 208.1 -126.6 16.2 -148.0 -37.3 11.1 -51.0 20

F.206 Money Market Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA634090005 Net issues 439.5 17.6 -157.6 -79.7 8.2 299.6 2181.5 1043.6 706.3 1

 2 FA634090005 Net purchases 439.5 17.6 -157.6 -79.7 8.2 299.6 2181.5 1043.6 706.3 2

 3 FA153034005 Household sector 111.8 276.0 94.5 300.0 221.2 488.4 1429.2 687.2 479.7 3

 4 FA103034000 Nonfinancial corporate business 101.0 -73.5 -135.5 -84.8 -83.1 9.2 331.2 153.7 123.0 4

 5 FA113034003 Nonfinancial noncorporate business 2.4 6.3 2.5 9.8 6.3 6.6 2.8 4.6 1.4 5

 6 FA213034003 State and local governments 15.3 9.8 2.6 7.1 10.4 19.1 24.8 11.8 13.3 6

 7 FA513034005 Property-casualty insurance companies -3.2 11.4 -14.7 6.7 22.1 31.6 -2.8 21.6 -37.5 7

 8 FA543034005 Life insurance companies -2.3 10.1 3.8 22.5 7.4 6.9 10.4 32.9 -16.6 8

 9 FA573034005 Private pension funds 7.4 16.3 9.4 16.5 17.6 21.7 10.6 11.1 14.5 9

 10 FA223034005 State and local govt. retirement funds 2.4 -3.9 -7.7 -7.8 -7.4 7.5 5.0 -17.6 -3.8 10

 11 FA653034003 Mutual Funds 0.2 -41.8 125.5 -150.2 0.0 -142.3 17.0 -6.3 -36.0 11

 12 FA563034003 Exchange-traded funds 4.8 -11.5 -15.6 -23.3 15.2 -22.5 20.0 -4.5 -2.4 12

 13 FA503034005 Other financial business 172.1 -200.9 -247.6 -201.3 -208.6 -146.3 267.3 117.3 139.0 13

 14 FA263034003 Rest of the world 27.5 19.3 25.1 25.1 7.3 19.5 66.1 31.6 31.8 14
Transactions

Z.1, December 7, 2023 53

F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA892150005 Net change in liabilities 1626.7 708.4 -462.8 1761.5 733.4 801.5 2188.0 -702.4 -1325.8 1

 2 FA712151003 Monetary authority 1967.0 706.5 -248.2 1921.0 476.8 676.5 -587.6 -1495.0 -2021.9 2

 3 FA762150005 U.S.-chartered depository institutions -9.9 24.2 -19.8 50.1 32.8 33.8 417.1 -101.3 -40.6 3

 4 FA762152005 Federal funds (2) -6.8 24.2 10.3 35.9 44.5 6.2 -23.2 -2.1 -1.1 4

 5 FA762151005 Security repurchase agreements -3.1 0.0 -30.1 14.2 -11.7 27.6 440.3 -99.1 -39.6 5

 6 FA752150005 Foreign banking offices in U.S. -17.5 -63.3 146.3 -225.8 -59.2 -114.5 269.8 179.8 -19.1 6

 7 FA752152005 Federal funds (2) -0.8 0.2 59.0 -24.5 14.5 -48.1 15.1 59.7 -19.1 7

 8 FA752151005 Security repurchase agreements -16.7 -63.5 87.4 -201.4 -73.7 -66.5 254.7 120.1 -0.0 8

 9 FA472150053 Credit unions -0.0 0.2 0.0 0.0 0.0 0.6 -0.3 -0.1 0.0 9

 10 FA512151003 Property-casualty insurance companies -0.1 0.1 -0.1 0.1 0.1 0.3 0.5 0.0 0.5 10

 11 FA542151073 Life insurance companies 1.5 15.4 11.3 5.8 30.1 14.5 -6.9 17.3 10.4 11

 12 FA402150005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA642151073 Mortgage REITs -4.3 -18.6 -39.9 -23.4 10.9 -21.9 82.4 -30.2 60.7 13

 14 FA662151003 Brokers and dealers -203.9 55.7 -187.2 40.3 319.2 50.7 1569.8 143.5 51.4 14

 15 FA732151003 Holding companies 0.0 -0.0 0.2 -0.2 0.0 -0.1 0.1 -0.1 0.3 15

 16 FA262151003 Rest of the world -106.1 -11.9 -125.3 -6.5 -77.4 161.7 443.1 583.6 632.5 16

 17 FA892050005 Net change in assets 1405.2 826.1 -135.1 928.8 1127.6 1383.2 3590.5 -1259.2 -796.1 17

 18 FA102051003 Nonfinancial corporate business -10.3 1.7 12.9 -21.5 0.3 15.3 8.9 -2.5 -1.4 18

 19 FA212051003 State and local governments 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 19

 20 FA712051000 Monetary authority -1.0 0.0 0.0 0.0 0.0 0.0 180.0 -176.0 -4.0 20

 21 FA762050005 U.S.-chartered depository institutions -220.8 13.4 -76.0 -70.0 108.0 91.4 -24.7 -196.4 -15.1 21

 22 FA762052005 Federal funds (2) 0.2 0.6 -12.5 -18.8 7.8 25.7 -14.5 -29.3 22.3 22

 23 FA762051005 Security repurchase agreements -221.0 12.8 -63.5 -51.3 100.2 65.7 -10.3 -167.1 -37.4 23

 24 FA752050005 Foreign banking offices in U.S. -47.8 -10.6 25.1 29.1 49.8 -146.4 285.3 52.5 -63.8 24

 25 FA752052005 Federal funds (2) -0.1 0.1 1.1 -0.5 -0.3 0.2 -0.1 0.2 -0.1 25

 26 FA752051005 Security repurchase agreements -47.6 -10.7 24.1 29.6 50.1 -146.6 285.4 52.3 -63.7 26

 27 FA472050053 Credit unions -0.3 -0.2 -0.1 -0.0 -0.3 -0.3 -0.1 0.0 -0.0 27

 28 FA472052053 Federal funds 0.0 -0.1 -0.0 -0.0 -0.1 -0.3 -0.1 0.0 -0.0 28

 29 FA472051053 Security repurchase agreements -0.3 -0.1 -0.1 0.0 -0.2 0.0 0.0 0.0 0.0 29

 30 FA512051005 Property-casualty insurance companies -0.0 0.1 -3.0 0.9 0.5 2.1 0.6 0.3 3.4 30

 31 FA542051075 Life insurance companies 1.6 -5.2 -7.5 -7.3 -1.4 -4.8 5.1 3.0 1.8 31

 32 FA572051005 Private pension funds 0.3 0.8 0.7 1.0 0.7 0.7 1.3 1.3 0.8 32

 33 FA222051043 State and local govt. retirement funds 19.6 20.7 -30.2 -0.5 50.9 62.6 44.8 -152.7 -30.6 33

 34 FA632051000 Money market funds 1427.0 480.9 -154.9 450.8 667.2 960.7 1347.8 -464.8 -1045.6 34

 35 FA652051003 Mutual funds (net) 30.1 6.2 -31.1 52.7 6.7 -3.5 36.3 21.9 -6.4 35

 36 FA402050005 Government-sponsored enterprises -2.8 42.5 34.0 236.4 108.8 -209.0 443.4 54.1 -290.0 36

 37 FA402052033 Of which: FHLB federal funds (3) 15.9 18.6 39.7 57.5 74.2 -97.1 83.7 49.9 -49.1 37

 38 FA662051003 Brokers and dealers -66.7 206.1 276.1 84.3 -59.9 524.0 796.4 -91.0 -134.9 38

 39 FA732051003 Holding companies -15.3 10.5 -33.3 23.9 21.7 29.5 -2.3 -0.3 -2.6 39

 40 FA502051005 Other financial business -1.8 0.3 0.9 2.9 -0.9 -1.9 4.3 -2.7 3.1 40

 41 FA262051005 Rest of the world 283.4 48.8 -158.9 136.0 165.6 52.7 453.5 -316.1 779.2 41

 42 FA902050005 Discrepancy 221.5 -117.7 -327.6 832.7 -394.2 -581.7 -1402.5 556.8 -529.7 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations:

 43 FA712151103 Liability: Monetary authority (4) 1894.9 649.1 -130.4 1831.1 384.7 511.2 -714.2 -1363.4 -1907.0 43

 44 FA632051103 Asset: Money market funds (5) 1730.0 600.0 -326.4 1619.3 630.8 476.1 -435.1 -1299.4 -1688.2 44

 45 FA792051115 Other financial institutions (6) 164.9 49.2 195.9 211.8 -246.1 35.1 -279.1 -64.0 -218.8 45

(1) Detailed data on federal funds and security repurchase agreements are available beginning 2012:Q1 for U.S.-chartered depository institutions, 2003:Q1 for foreign banking offices in U.S.,

 1997:Q1 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) Included in line 2.

(5) Included in line 34.

(6) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
Transactions

54 Z.1, December 7, 2023

F.208 Debt Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FA894122005 Net issues 3206.3 3014.8 4702.0 2785.5 2369.8 2201.8 2201.0 4693.8 2974.3 1

 2 FA893169175 Open market paper 27.3 151.9 48.9 182.5 235.3 141.1 -342.0 44.3 252.3 2

 3 FA313161105 Treasury securities 1683.8 1546.9 2587.8 1441.8 1102.6 1055.2 104.2 4538.7 2962.0 3

 4 FA893161705 Agency- and GSE-backed securities 612.5 979.4 1039.3 949.8 1049.4 879.1 1571.1 -402.6 -209.9 4

 5 FA383162005 Municipal securities 79.2 -52.5 -47.6 52.8 -30.5 -184.8 45.2 108.4 -11.0 5

 6 FA893163005 Corporate and foreign bonds 803.5 389.1 1073.5 158.6 13.0 311.2 822.6 405.0 -19.1 6

 By sector

 7 FA894122005 Net issues 3206.3 3014.8 4702.0 2785.5 2369.8 2201.8 2201.0 4693.8 2974.3 7

 8 FA384122005 Domestic nonfinancial sectors 2003.9 1573.8 2704.3 1483.1 1262.8 845.2 704.5 4772.2 3050.8 8

 9 FA163162003 Nonprofit organizations (2) -1.2 -0.9 8.3 -10.0 -3.0 1.1 0.3 9.0 0.1 9

 10 FA104122005 Nonfinancial corporate business 252.6 80.3 187.8 -2.6 181.2 -45.4 562.1 142.5 93.8 10

 11 FA314122005 Federal government 1683.4 1546.9 2586.3 1443.1 1101.2 1057.0 104.0 4531.7 2968.3 11

 12 FA213162005 State and local governments 69.1 -52.4 -78.1 52.7 -16.6 -167.5 38.0 89.0 -11.4 12

 13 FA794122005 Domestic financial sectors 719.9 1274.9 1621.6 1090.7 790.9 1596.5 1538.3 -258.2 -12.9 13

 14 FA764122005 U.S.-chartered depository institutions -125.1 153.8 146.3 169.8 23.7 275.5 -166.6 121.9 109.4 14

 15 FA753169175 Foreign banking offices in U.S. -11.5 58.3 94.3 75.4 5.9 57.5 3.3 44.0 36.4 15

 16 FA403161705 Government-sponsored enterprises 539.4 793.3 888.3 747.5 841.6 695.7 1431.6 -588.8 -292.9 16

 17 FA413065005 Agency- and GSE-backed mortgage pools 73.5 186.1 152.6 201.0 209.3 181.7 139.7 193.2 76.7 17

 18 FA674122005 ABS issuers 163.8 81.4 174.4 110.6 73.7 -32.9 82.2 11.8 50.8 18

 19 FA614122005 Finance companies -61.2 -22.9 -67.1 -40.9 -72.2 88.4 24.6 136.6 42.3 19

 20 FA644122075 Mortgage REITs 23.8 12.9 22.7 17.3 -12.8 24.5 -1.0 -18.7 -11.5 20

 21 FA663163003 Brokers and dealers 33.8 18.4 172.5 -46.4 -102.6 50.0 -27.2 -72.5 39.4 21

 22 FA734122005 Holding companies 65.0 -3.2 -55.4 -57.8 -176.1 276.6 24.8 -26.9 -215.8 22

 23 FA504122005 Other financial business 18.4 -3.2 93.1 -85.8 0.4 -20.4 26.9 -58.8 152.3 23

 24 FA264122005 Rest of the world 482.5 166.0 376.1 211.6 316.1 -239.8 -41.8 179.8 -63.6 24

 25 FA894022005 Net purchases 3206.3 3014.8 4702.0 2785.5 2369.8 2201.8 2201.0 4693.8 2974.3 25

 26 FA384022005 Domestic nonfinancial sectors -623.0 1877.9 545.4 2438.3 1558.8 2969.0 2303.4 1070.8 745.9 26

 27 FA154022005 Household sector -995.6 1547.2 337.4 1574.8 1439.0 2837.8 2080.1 859.6 417.3 27

 28 FA104022005 Nonfinancial corporate business 37.8 -18.5 -67.2 108.3 -143.3 28.3 12.0 43.1 166.6 28

 29 FA114022005 Nonfinancial noncorporate business 2.3 12.8 5.2 21.2 21.9 3.0 -7.3 8.9 15.1 29

 30 FA314022005 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA214022005 State and local governments 332.4 336.3 270.1 734.1 241.2 99.9 218.6 159.1 146.8 31

 32 FA794022005 Domestic financial sectors 3157.0 294.5 2877.7 63.7 -257.7 -1505.9 -878.9 2400.8 1533.6 32

 33 FA714022005 Monetary authority 1537.1 -175.9 782.3 -150.0 -523.0 -812.7 -1101.9 -953.0 -880.8 33

 34 FA764022005 U.S.-chartered depository institutions 1240.1 -109.8 892.8 -195.4 -649.2 -487.4 -472.2 -465.2 -595.1 34

 35 FA754022005 Foreign banking offices in U.S. -12.5 58.4 59.1 122.2 97.9 -45.5 -100.1 54.9 -18.4 35

 36 FA744022003 Banks in U.S.-affiliated areas 7.9 10.5 13.1 22.1 22.9 -16.3 -8.4 1.1 83.2 36

 37 FA474022005 Credit unions 101.5 29.6 120.4 49.4 -4.1 -47.2 -54.0 -21.0 -14.0 37

 38 FA514022005 Property-casualty insurance companies 71.0 80.1 32.2 82.3 105.4 100.4 78.4 48.4 218.0 38

 39 FA544022005 Life insurance companies 171.2 177.7 216.0 136.6 229.6 128.6 229.6 123.0 114.2 39

 40 FA574022005 Private pension funds 189.7 154.6 73.5 145.4 190.4 209.1 233.2 215.1 96.8 40

 41 FA344022005 Federal government retirement funds 159.1 242.5 308.4 280.3 77.7 303.8 -1072.1 1425.1 37.4 41

 42 FA224022045 State and local govt. retirement funds 143.6 30.3 150.4 15.0 64.4 -108.7 177.2 43.9 64.1 42

 43 FA634022005 Money market funds -956.4 -546.8 -248.6 -565.0 -670.2 -703.4 704.1 1360.5 1723.4 43

 44 FA654022005 Mutual funds 595.1 -192.1 334.3 -636.7 -27.8 -438.1 71.8 387.9 54.5 44

 45 FA554022005 Closed-end funds 9.2 -0.6 0.3 0.6 -2.1 -1.3 1.1 0.0 -1.3 45

 46 FA564022005 Exchange-traded funds 202.7 206.5 112.4 214.2 210.2 289.1 200.1 199.2 152.5 46

 47 FA404022005 Government-sponsored enterprises -71.2 13.9 93.5 -59.5 37.0 -15.4 25.1 68.1 55.8 47

 48 FA674022005 ABS issuers 1.5 4.6 10.5 4.8 2.5 0.4 -0.2 -7.6 -5.0 48

 49 FA613063003 Finance companies 18.2 -4.2 -14.3 -14.4 0.2 11.4 -50.2 -8.5 4.8 49

 50 FA644022075 Mortgage REITs -37.9 -1.3 -8.7 -23.5 58.6 -31.6 77.9 10.0 47.4 50

 51 FA664022005 Brokers and dealers -174.4 135.8 -126.9 152.8 385.9 131.4 476.4 -48.4 249.2 51

 52 FA734022605 Holding companies 29.4 58.2 46.6 97.6 73.6 15.0 -71.5 1.5 54.9 52

 53 FA504022005 Other financial business -67.8 122.6 30.4 384.9 62.5 12.6 -223.2 -34.1 92.2 53

 54 FA264022005 Rest of the world 672.3 842.4 1278.8 283.4 1068.7 738.7 776.6 1222.2 694.7 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.

(2) Liability of the households and nonprofit organizations sector (table F.101).
Transactions

Z.1, December 7, 2023 55

F.209 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893169175 Net issues 27.3 151.9 48.9 182.5 235.3 141.1 -342.0 44.3 252.3 1

 2 FA893169105 Commercial paper 27.3 151.9 48.9 182.5 235.3 141.1 -342.0 44.3 252.3 2

 3 FA103169100 Nonfinancial corporate business 6.0 59.3 -19.9 140.2 169.0 -52.1 -82.2 10.8 49.1 3

 4 FA263169105 Foreign issues in U.S. 105.0 -113.8 -332.1 -101.0 -10.8 -11.4 -151.0 -21.4 -22.4 4

 5 FA263169110 Nonfinancial 12.6 -11.1 -50.4 -31.3 16.5 20.6 2.1 -4.7 -15.6 5

 6 FA263169123 Financial 92.4 -102.7 -281.7 -69.7 -27.3 -32.1 -153.1 -16.7 -6.8 6

 7 FA793169100 Domestic financial sectors -83.8 206.4 400.9 143.2 77.1 204.6 -108.8 54.9 225.6 7

 8 FA763169103 U.S.-chartered depository institutions -60.3 75.9 72.9 87.5 11.9 131.1 -73.0 62.4 57.9 8

 9 FA753169103 Foreign banking offices in U.S. -11.5 58.3 94.3 75.4 5.9 57.5 3.3 44.0 36.4 9

 10 FA673169105 ABS issuers -32.9 65.2 164.4 57.9 26.4 12.0 -42.3 -35.5 -36.5 10

 11 FA613169100 Finance companies -0.4 8.9 -21.1 2.8 30.9 23.1 -21.5 29.3 21.1 11

 12 FA643169173 Mortgage REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA733169103 Holding companies 3.0 1.4 -2.6 5.4 1.5 1.4 -2.2 13.6 -5.5 13

 14 FA503169105 Other financial business 18.4 -3.2 93.1 -85.8 0.4 -20.4 26.9 -58.8 152.3 14

 15 FA703169605 Bankers’ acceptances (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA763169603 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA753169603 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA893169175 Net purchases 27.3 151.9 48.9 182.5 235.3 141.1 -342.0 44.3 252.3 18

 19 FA103069100 Nonfinancial corporate business 5.4 -51.5 -88.0 70.4 -161.6 -26.8 24.6 -40.8 120.1 19

 20 FA213069103 State and local governments 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 20

 21 FA713069603 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA763069175 U.S.-chartered depository institutions (1) -2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA753069603 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA473069153 Credit unions -0.1 -0.2 0.8 -0.4 -1.2 0.0 -0.2 -0.1 0.0 24

 25 FA513069105 Property-casualty insurance companies -4.4 -0.2 -6.4 1.5 0.7 3.6 0.7 0.6 6.2 25

 26 FA543069105 Life insurance companies 7.0 -15.8 -24.0 -26.7 -2.1 -10.5 0.6 3.4 6.7 26

 27 FA573069105 Private pension funds 1.2 2.3 1.8 2.6 2.3 2.6 2.6 2.6 2.2 27

 28 FA223069143 State and local govt. retirement funds 11.6 -9.2 11.2 -1.9 -27.1 -18.9 4.7 7.0 -8.6 28

 29 FA633069175 Money market funds -6.0 27.6 -54.9 -69.7 111.5 123.4 -89.3 24.7 134.5 29

 30 FA653069100 Mutual funds -10.6 0.2 17.8 -35.6 20.9 -2.4 -7.9 12.9 12.4 30

 31 FA403069105 Government-sponsored enterprises -2.6 5.5 7.0 5.7 7.8 1.5 -3.6 2.7 4.2 31

 32 FA663069103 Brokers and dealers 8.1 2.7 23.7 -26.4 31.1 -17.6 37.1 2.8 -17.0 32

 33 FA503069105 Other financial business 13.6 132.6 12.6 417.6 76.3 24.1 -256.1 -69.8 109.4 33

 34 FA263069103 Rest of the world 2.0 53.8 143.4 -158.6 172.6 58.0 -59.4 94.4 -121.9 34

(1) Excludes banks’ holdings of own acceptances.
Transactions

56 Z.1, December 7, 2023

F.210 Treasury Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA313161105 Net issues 1683.8 1546.9 2587.8 1441.8 1102.6 1055.2 104.2 4538.7 2962.0 1

 2 FA313161205 Marketable Treasury securities 1611.4 1287.4 2231.8 1154.2 992.7 771.1 1166.2 3156.0 2917.6 2

 3 FA313161110 Treasury bills -1195.1 -71.8 423.7 -966.3 305.3 -50.0 1284.1 2240.2 2980.1 3

 4 FA313161275 Other Treasury notes, bonds, and TIPS 2807.7 1360.4 1808.1 2125.3 687.3 821.1 -118.0 913.2 -62.5 4

 5 FA313161283 Held in the Civil Service Retirement Fund (2) -1.2 -1.2 0.0 -4.8 0.0 0.0 0.0 2.6 0.0 5

 6 FA313161305 Nonmarketable Treasury securities 72.5 259.4 356.0 287.6 110.0 284.2 -1061.9 1382.7 44.4 6

 7 FA313161400 U.S. savings securities -0.9 27.3 14.6 42.6 23.3 28.7 17.8 1.6 -10.4 7

 8 FA213061120 State and local government series (SLGS) -6.1 -9.8 38.7 -12.0 4.9 -70.8 -1.8 1.2 12.4 8

 9 FA343061123 Thrift Savings Plan G Fund -7.0 6.9 110.0 21.4 -12.6 -91.1 -1081.2 1087.4 -3.0 9

 10 FA343061145 Federal govt. defined benefit pension plans 168.2 238.7 199.7 271.6 92.7 390.8 7.6 331.0 41.4 10

 11 FA503061303 Held by Federal Reserve credit facility LLCs -77.6 -4.8 0.0 -11.1 0.3 -8.5 0.5 -6.4 0.5 11

 12 FA313161375 Other nonmarketable securities -4.1 1.2 -7.0 -24.8 1.4 35.0 -4.7 -32.0 3.5 12

 13 FA893061105 Net purchases 1683.8 1546.9 2587.8 1441.8 1102.6 1055.2 104.2 4538.7 2962.0 13

 14 FA153061105 Household sector -654.4 1138.6 626.4 635.4 1487.7 1804.9 1198.2 1296.2 652.5 14

 15 FA313161400 U.S. savings securities (line 7) -0.9 27.3 14.6 42.6 23.3 28.7 17.8 1.6 -10.4 15

 16 FA153061185 Other Treasury securities -653.4 1111.3 611.8 592.7 1464.5 1776.3 1180.4 1294.7 662.9 16

 17 FA103061103 Nonfinancial corporate business 10.7 24.0 1.2 36.9 14.6 43.2 -7.6 64.1 34.7 17

 18 FA113061003 Nonfinancial noncorporate business 2.2 11.9 3.3 20.1 20.9 3.3 -7.0 8.6 14.2 18

 19 FA213061105 State and local governments 383.9 300.1 244.7 681.5 190.3 83.8 189.4 134.2 124.5 19

 20 FA213061120 SLGS (line 8) -6.1 -9.8 38.7 -12.0 4.9 -70.8 -1.8 1.2 12.4 20

 21 FA213061103 Other Treasury securities 390.0 309.9 206.0 693.5 185.4 154.6 191.2 133.0 112.2 21

 22 FA713061103 Monetary authority 961.6 -188.2 400.2 -107.5 -467.6 -577.9 -908.1 -720.2 -640.2 22

 23 FA713061113 Treasury bills 0.0 -39.4 -1.1 -2.9 -68.4 -85.2 -34.8 -46.9 -120.4 23

 24 FA713061125 Other Treasury securities 961.5 -148.8 401.3 -104.7 -399.2 -492.7 -873.3 -673.3 -519.8 24

 25 FA763061100 U.S.-chartered depository institutions 449.0 8.8 273.5 174.0 -271.6 -140.6 -343.1 -208.3 -34.5 25

 26 FA753061103 Foreign banking offices in U.S. -7.6 16.4 31.0 41.6 6.0 -13.2 1.3 32.9 -20.0 26

 27 FA743061103 Banks in U.S.-affiliated areas 6.5 7.0 4.7 17.2 19.7 -13.4 -4.7 1.2 2.1 27

 28 FA473061105 Credit unions 19.5 26.6 61.1 34.6 14.8 -4.0 -15.2 8.9 21.7 28

 29 FA513061105 Property-casualty insurance companies 31.6 37.3 -66.3 45.7 59.6 110.3 24.4 25.0 134.2 29

 30 FA513061115 Treasury bills 2.5 13.7 -68.4 29.8 22.3 71.2 17.8 8.5 99.2 30

 31 FA513061125 Other Treasury securities 29.2 23.6 2.1 15.8 37.3 39.2 6.6 16.6 35.0 31

 32 FA543061105 Life insurance companies -2.6 -5.5 -17.2 -13.8 17.7 -8.9 0.5 22.3 6.0 32

 33 FA543061115 Treasury bills -6.2 7.7 5.8 3.2 14.5 7.2 -3.6 6.6 2.7 33

 34 FA543061125 Other Treasury securities 3.7 -13.2 -22.9 -17.0 3.3 -16.2 4.0 15.6 3.3 34

 35 FA573061105 Private pension funds 71.3 78.6 20.6 54.9 116.0 123.0 162.7 144.1 29.0 35

 36 FA573061143 Defined benefit plans 36.9 26.4 6.0 8.0 45.7 45.9 90.7 90.2 6.4 36

 37 FA573061133 Defined contribution plans 34.4 52.2 14.6 46.9 70.3 77.1 72.0 54.0 22.7 37

 38 FA343061105 Federal government retirement funds (3) 160.2 243.7 308.9 285.1 78.1 302.5 -1073.0 1422.5 37.9 38

 39 FA343061165 Defined benefit plans 167.0 237.2 199.7 266.5 91.7 390.9 7.6 333.7 41.4 39

 40 FA343061155 Defined contribution plans -6.7 6.5 109.2 18.6 -13.6 -88.4 -1080.6 1088.8 -3.5 40

 41 FA223061143 State and local govt. retirement funds 76.2 -29.6 -26.0 -46.1 -72.8 26.3 118.0 112.2 45.9 41

 42 FA633061105 Money market funds -651.3 -750.7 -305.5 -560.0 -1044.8 -1092.2 -180.7 1484.7 1845.1 42

 43 FA633061110 Treasury bills -878.2 -595.1 -267.2 -483.2 -760.6 147.1 1440.8 1908.1 43

 44 FA633061120 Other Treasury securities 226.9 -155.6 -38.4 -76.8 -284.2 -223.0 -327.8 44.0 -63.0 44

 45 FA653061105 Mutual funds 345.7 -25.5 103.0 -155.2 -49.7 -0.1 -56.6 11.2 27.3 45

 46 FA653061113 Treasury bills 2.4 -44.7 -16.0 -30.5 -94.5 -37.8 12.5 -15.0 3.1 46

 47 FA653061125 Other Treasury securities 343.2 19.2 119.0 -124.7 44.8 37.8 -69.1 26.3 24.2 47

 48 FA553061103 Closed-end funds 0.3 -0.2 -0.0 2.9 -3.8 -0.1 -0.3 -0.0 -0.1 48

 49 FA563061103 Exchange-traded funds 66.5 115.6 71.6 164.4 145.3 81.3 165.9 65.8 104.3 49

 50 FA403061105 Government-sponsored enterprises -43.2 -18.4 78.8 -85.3 -14.4 -52.8 -39.4 16.6 19.2 50

 51 FA673061103 ABS issuers 1.5 4.6 10.5 4.8 2.5 0.4 -0.2 -7.6 -5.0 51

 52 FA663061105 Brokers and dealers -104.3 85.4 22.3 27.4 241.7 50.3 429.1 -23.2 78.5 52

 53 FA733061103 Holding companies 34.2 56.4 51.2 100.2 64.8 9.3 -57.2 5.1 37.6 53

 54 FA503061105 Other financial business -79.4 -7.5 -10.3 -30.5 14.0 -3.1 22.1 37.2 -13.1 54

 55 FA263061105 Rest of the world 605.8 417.6 700.1 113.7 533.7 323.0 485.7 605.1 460.2 55

 56 FA263061110 Treasury bills -55.4 -37.4 23.9 -448.3 122.2 152.6 -15.5 -175.7 472.4 56

 57 FA263061120 Other Treasury securities 661.2 455.0 676.2 562.0 411.5 170.4 501.2 780.8 -12.2 57

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds.

 In the Financial Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as

 opposed to intragovernmental holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.

(3) Comprised primarily of nonmarketable Treasury securities.

-869.3
Transactions

Z.1, December 7, 2023 57

F.211 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893161705 Net issues 612.5 979.4 1039.3 949.8 1049.4 879.1 1571.1 -402.6 -209.9 1

 2 FA313161705 Budget agencies -0.4 0.0 -1.6 1.3 -1.5 1.8 -0.2 -7.0 6.3 2

 3 FA403161705 Government-sponsored enterprises 539.4 793.3 888.3 747.5 841.6 695.7 1431.6 -588.8 -292.9 3

 4 FA413065005 Agency- and GSE-backed mortgage pools 73.5 186.1 152.6 201.0 209.3 181.7 139.7 193.2 76.7 4

 5 FA893061705 Net purchases 612.5 979.4 1039.3 949.8 1049.4 879.1 1571.1 -402.6 -209.9 5

 6 FA153061705 Household sector -21.2 670.8 310.2 702.0 928.2 743.0 532.9 -320.2 211.3 6

 7 FA103061703 Nonfinancial corporate business 2.9 6.7 -1.1 10.4 3.0 14.3 -1.2 20.4 7.9 7

 8 FA313061703 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA213061703 State and local governments -39.8 36.3 41.8 48.7 47.3 7.2 13.7 6.3 -2.9 9

 10 FA713061705 Monetary authority 575.5 12.3 382.0 -42.5 -55.5 -234.9 -193.9 -232.8 -240.6 10

 11 FA763061705 U.S.-chartered depository institutions 535.1 -231.2 206.4 -369.7 -401.4 -360.0 -109.3 -183.0 -294.4 11

 12 FA753061703 Foreign banking offices in U.S. -5.7 -0.2 -6.9 17.7 5.2 -16.6 -26.3 13.8 -8.0 12

 13 FA743061703 Banks in U.S.-affiliated areas 1.9 1.4 4.7 1.6 1.1 -1.7 -2.2 -0.4 0.9 13

 14 FA473061705 Credit unions 74.6 -0.0 41.4 7.8 -15.9 -33.4 -33.6 -26.8 -43.8 14

 15 FA513061705 Property-casualty insurance companies -10.2 11.8 9.0 8.7 13.0 16.6 11.9 24.1 47.7 15

 16 FA543061705 Life insurance companies -42.3 -16.3 -14.5 -27.0 7.0 -30.6 3.2 19.1 11.5 16

 17 FA573061705 Private pension funds 29.9 19.4 12.0 20.2 20.8 24.7 13.5 14.2 16.8 17

 18 FA343061705 Federal government retirement funds 0.3 -1.2 -0.6 -2.3 -0.7 -1.2 0.5 1.1 -0.4 18

 19 FA223061743 State and local govt. retirement funds 9.0 -14.4 25.0 -32.6 -38.3 -11.7 -116.2 49.0 -29.2 19

 20 FA633061700 Money market funds -278.3 169.9 95.5 58.9 248.4 277.1 962.4 -171.4 -278.2 20

 21 FA653061703 Mutual funds -119.9 42.0 112.1 63.1 -43.9 36.6 208.6 244.2 13.0 21

 22 FA403061705 Government-sponsored enterprises -23.8 25.8 7.6 19.0 41.5 35.2 66.1 45.6 29.8 22

 23 FA673061703 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA643061773 Mortgage REITs -35.2 -3.3 -12.3 -26.3 54.8 -29.2 79.4 10.3 44.0 24

 25 FA663061705 Brokers and dealers -22.1 59.6 -120.6 150.1 48.3 160.6 -1.9 -89.0 140.7 25

 26 FA733061703 Holding companies -8.4 -3.1 -4.4 -2.7 -3.4 -2.0 -1.9 -0.8 -0.6 26

 27 FA263061705 Rest of the world -9.8 192.9 -48.0 344.8 189.9 285.1 165.4 173.9 164.6 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 Ginnie Mae, 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.106, line 49.
Transactions

58 Z.1, December 7, 2023

F.212 Municipal Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA383162005 Net issues 79.2 -52.5 -47.6 52.8 -30.5 -184.8 45.2 108.4 -11.0 1

 2 FA213162005 State and local governments 69.1 -52.4 -78.1 52.7 -16.6 -167.5 38.0 89.0 -11.4 2

 3 FA213162400 Short-term (1) -13.7 -7.5 -21.7 -2.7 3.0 -8.4 -1.7 7.1 10.8 3

 4 FA213162200 Long-term 82.8 -44.9 -56.4 55.4 -19.6 -159.1 39.7 81.9 -22.2 4

 5 FA163162003 Nonprofit organizations (2) -1.2 -0.9 8.3 -10.0 -3.0 1.1 0.3 9.0 0.1 5

 6 FA103162000 Nonfinancial corporate business 11.3 0.8 22.2 10.2 -10.9 -18.3 6.8 10.4 0.2 6

 (industrial revenue bonds)

 7 FA893062005 Net purchases 79.2 -52.5 -47.6 52.8 -30.5 -184.8 45.2 108.4 -11.0 7

 8 FA153062005 Household sector -112.6 30.4 -117.3 139.7 7.2 92.1 127.0 129.9 45.8 8

 9 FA103062003 Nonfinancial corporate business 11.2 -0.2 0.0 0.2 -0.2 -0.9 -0.0 0.5 0.1 9

 10 FA113062003 Nonfinancial noncorporate business 0.1 0.9 1.9 1.0 1.0 -0.3 -0.3 0.3 1.0 10

 11 FA213062003 State and local governments 3.8 6.4 5.5 6.0 6.7 7.4 8.1 8.8 9.5 11

 12 FA763062000 U.S.-chartered depository institutions 53.0 4.8 53.5 53.3 -7.3 -80.5 -71.6 -66.5 -45.0 12

 13 FA753062003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA743062003 Banks in U.S.-affiliated areas -0.0 -0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 0.0 14

 15 FA473062005 Credit unions 2.3 0.1 2.0 0.6 -0.4 -2.0 -0.1 -0.8 3.8 15

 16 FA513062005 Property-casualty insurance companies -1.1 -7.7 10.9 1.1 -16.3 -26.6 -32.1 -28.8 -31.0 16

 17 FA543062005 Life insurance companies 1.0 4.4 4.7 10.4 5.3 -3.0 -3.1 -10.0 -3.7 17

 18 FA343062033 Federal government retirement funds -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 18

 19 FA223062043 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA633062000 Money market funds -14.6 7.0 22.6 13.0 4.6 -12.0 0.1 20.5 25.0 20

 21 FA653062003 Mutual funds 109.4 -130.9 -54.5 -207.0 -54.6 -207.4 20.2 19.4 -10.8 21

 22 FA553062003 Closed-end funds 0.7 -0.3 0.4 -0.1 -1.8 0.2 1.0 -0.6 -0.4 22

 23 FA563062003 Exchange-traded funds 20.6 29.3 19.0 37.3 0.9 60.0 -2.7 10.2 18.3 23

 24 FA403062005 Government-sponsored enterprises -0.4 -0.2 -0.0 -0.6 -0.0 -0.3 0.0 -0.3 -0.1 24

 25 FA663062003 Brokers and dealers 6.0 0.7 -3.0 -1.8 20.4 -12.9 -5.2 18.6 0.9 25

 26 FA503062003 Other financial business -2.2 -1.2 -4.9 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA263062003 Rest of the world 1.7 4.2 11.6 -0.4 4.0 1.5 3.8 7.0 -24.5 27

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (table F.101).
Transactions

Z.1, December 7, 2023 59

F.213 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893163005 Net issues 803.5 389.1 1073.5 158.6 13.0 311.2 822.6 405.0 -19.1 1

 2 FA103163005 Nonfinancial corporate business 235.3 20.2 185.5 -153.0 23.1 25.0 637.4 121.4 44.5 2

 3 FA793163005 Domestic financial sectors 190.7 89.1 179.8 -0.9 -337.1 514.6 75.9 82.5 -22.3 3

 4 FA763163005 U.S.-chartered depository institutions -64.8 77.9 73.4 82.2 11.8 144.3 -93.6 59.6 51.5 4

 5 FA673163005 ABS issuers (net) (1) 196.7 16.3 10.0 52.7 47.2 -44.8 124.5 47.3 87.3 5

 6 FA613163005 Finance companies -60.8 -31.8 -46.0 -43.7 -103.0 65.4 46.2 107.4 21.3 6

 7 FA643163075 Mortgage REITs 23.8 12.9 22.7 17.3 -12.8 24.5 -1.0 -18.7 -11.5 7

 8 FA663163003 Brokers and dealers 33.8 18.4 172.5 -46.4 -102.6 50.0 -27.2 -72.5 39.4 8

 9 FA733163005 Holding companies 62.1 -4.6 -52.8 -63.2 -177.6 275.2 26.9 -40.5 -210.3 9

 10 FA503163003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA263163005 Rest of the world (2) 377.5 279.8 708.2 312.6 326.9 -228.4 109.3 201.2 -41.2 11

 12 FA893063005 Net purchases (3) 803.5 389.1 1073.5 158.6 13.0 311.2 822.6 405.0 -19.1 12

 13 FA153063005 Household sector -207.4 -292.6 -481.9 97.8 -984.1 197.7 222.0 -246.3 -492.3 13

 14 FA123063003 Nonfinancial corporate business (equity REITs) 7.7 2.6 20.7 -9.6 0.8 -1.5 -3.8 -1.1 3.7 14

 15 FA313063763 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA213063003 State and local governments -19.5 -10.5 -26.0 -6.1 -7.2 -2.6 3.5 5.8 11.8 16

 17 FA763063005 U.S.-chartered depository institutions 204.9 107.7 359.4 -53.0 31.0 93.6 51.8 -7.4 -221.2 17

 18 FA763063605 MBS and other ABS 31.9 13.9 49.5 17.5 2.8 -14.0 -7.8 -7.8 -12.3 18

 19 FA763063095 Other 173.0 93.8 309.9 -70.5 28.3 107.6 59.6 0.5 -208.9 19

 20 FA753063005 Foreign banking offices in U.S. 0.8 42.2 34.9 62.9 86.7 -15.7 -75.1 8.3 9.7 20

 21 FA743063005 Banks in U.S.-affiliated areas -0.6 2.0 3.7 3.4 2.2 -1.2 -1.4 0.3 80.2 21

 22 FA473063005 Credit unions 5.2 3.2 15.0 6.8 -1.4 -7.7 -4.8 -2.1 4.3 22

 23 FA473063605 MBS and other ABS 4.9 3.1 14.6 6.7 -1.5 -7.6 -4.5 -2.0 4.4 23

 24 FA473063095 Other 0.3 0.1 0.4 0.1 0.1 -0.1 -0.3 -0.1 -0.1 24

 25 FA513063005 Property-casualty insurance companies 55.1 38.9 85.1 25.4 48.4 -3.5 73.4 27.5 60.9 25

 26 FA513063605 MBS and other ABS 12.0 9.5 -28.9 26.4 29.9 10.6 15.4 6.7 12.9 26

 27 FA513063095 Other 43.2 29.4 114.1 -1.0 18.5 -14.1 58.1 20.8 48.0 27

 28 FA543063005 Life insurance companies 208.0 210.9 266.9 193.7 201.6 181.6 228.4 88.2 93.6 28

 29 FA543063675 MBS and other ABS 30.6 31.7 239.5 93.3 94.7 -300.4 41.0 1.1 7.6 29

 30 FA543063095 Other 177.4 179.2 27.4 100.4 106.9 482.1 187.4 87.1 86.0 30

 31 FA573063005 Private pension funds 87.4 54.2 39.2 67.6 51.4 58.8 54.4 54.1 48.8 31

 32 FA343063005 Federal government retirement funds -1.4 0.1 0.0 -2.5 0.3 2.4 0.5 1.5 -0.1 32

 33 FA223063045 State and local govt. retirement funds 46.8 83.5 140.2 95.7 202.5 -104.4 170.6 -124.2 56.1 33

 34 FA633063005 Money market funds -6.3 -0.7 -6.2 -7.2 10.1 0.4 11.5 2.0 -3.0 34

 35 FA653063005 Mutual funds 270.5 -77.8 156.0 -302.0 99.5 -264.8 -92.5 100.2 12.6 35

 36 FA553063003 Closed-end funds 8.2 -0.0 -0.1 -2.2 3.6 -1.3 0.4 0.6 -0.8 36

 37 FA563063003 Exchange-traded funds 115.6 61.6 21.8 12.5 64.1 147.8 36.9 123.1 29.9 37

 38 FA403063005 Government-sponsored enterprises -1.2 1.3 0.2 1.8 2.1 1.0 2.0 3.4 2.6 38

 39 FA403063605 MBS and other ABS -0.9 1.7 0.6 2.2 2.5 1.6 2.6 3.8 2.9 39

 40 FA403063095 Other -0.3 -0.4 -0.4 -0.4 -0.4 -0.6 -0.6 -0.4 -0.3 40

 41 FA613063003 Finance companies 18.2 -4.2 -14.3 -14.4 0.2 11.4 -50.2 -8.5 4.8 41

 42 FA643063073 Mortgage REITs -2.7 2.0 3.6 2.8 3.8 -2.4 -1.5 -0.3 3.4 42

 43 FA663063005 Brokers and dealers -62.0 -12.6 -49.4 3.6 44.4 -49.0 17.2 42.4 46.1 43

 44 FA733063003 Holding companies 3.6 5.0 -0.1 0.1 12.3 7.7 -12.5 -2.8 17.8 44

 45 FA503063005 Other financial business 0.1 -1.3 33.0 -2.2 -27.8 -8.4 10.8 -1.4 -4.2 45

 46 FA263063005 Rest of the world (4) 72.7 173.9 471.8 -16.0 168.5 71.1 181.0 341.8 216.3 46

 47 FA263063603 MBS and other ABS 13.1 13.2 23.5 27.9 6.6 -5.3 1.6 24.3 25.1 47

 48 FA263063095 Other 59.6 160.7 448.3 -43.9 161.9 76.4 179.5 317.5 191.2 48

(1) Net issuance less net acquisition of corporate bonds held as assets.

(2) Net purchases of foreign issues by U.S. residents.

(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.
Transactions

60 Z.1, December 7, 2023

F.214 Loans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FA894123005 Net change in total loans 2195.8 2674.2 3584.9 3027.0 2328.7 1756.4 2904.2 -1274.7 294.8 1

 2 FA793068005 Depository institution loans n.e.c. 128.1 473.6 263.2 847.2 348.3 435.5 109.8 -19.0 -8.0 2

 3 FA893169005 Other loans and advances 574.5 528.4 1413.5 217.1 382.3 100.6 1866.0 -1989.8 -330.3 3

 4 FA893065005 Mortgages 1255.4 1326.8 1556.7 1608.5 1270.6 871.2 720.9 631.4 580.7 4

 5 FA893065105 One-to-four-family residential 892.2 899.1 1095.7 1112.6 886.3 501.8 372.0 390.1 342.2 5

 6 FA893065405 Multifamily residential 144.9 164.7 166.8 174.8 156.5 160.5 129.4 113.9 110.8 6

 7 FA893065505 Commercial 182.5 252.6 284.0 310.6 217.3 198.5 199.5 107.3 107.3 7

 8 FA893065603 Farm 35.8 10.4 10.3 10.4 10.5 10.5 19.9 20.1 20.4 8

 9 FA153166000 Consumer credit 237.8 345.5 351.5 354.1 327.4 349.0 207.6 102.7 52.4 9

 By sector

 10 FA894123005 Net change in liabilities 2195.8 2674.2 3584.9 3027.0 2328.7 1756.4 2904.2 -1274.7 294.8 10

 11 FA384123005 Domestic nonfinancial sectors 1899.4 2202.6 2817.7 2730.9 1860.6 1401.2 1948.7 -326.8 723.8 11

 12 FA154123005 Household sector 1239.4 1144.3 1458.7 1294.4 1195.2 628.9 465.2 518.7 495.0 12

 13 FA104123005 Nonfinancial corporate business 292.6 624.6 872.2 944.9 340.7 340.5 103.5 132.4 97.5 13

 14 FA114123005 Nonfinancial noncorporate business 367.0 433.0 486.4 491.2 324.1 430.4 287.6 112.6 131.2 14

 15 FA314123005 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 1091.3 -1091.3 0.0 15

 16 FA213169203 State and local governments 0.5 0.7 0.5 0.4 0.6 1.5 1.1 0.8 0.0 16

 17 FA794123005 Domestic financial sectors 145.5 348.0 660.2 99.6 278.9 353.5 828.3 -973.9 -507.5 17

 18 FA763169305 U.S.-chartered depository institutions -75.7 409.2 233.9 343.3 499.3 560.1 1022.6 -867.0 -213.0 18

 19 FA473169333 Credit unions -2.5 56.0 6.5 70.4 70.6 76.4 -35.9 -10.6 17.1 19

 20 FA513169333 Property-casualty insurance companies -3.0 -1.8 -2.7 -2.2 -2.6 0.4 -1.8 -1.4 -0.9 20

 21 FA543169373 Life insurance companies 6.8 21.7 44.7 29.0 12.3 0.7 26.4 -13.9 11.0 21

 22 FA403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA614123005 Finance companies 16.5 -58.2 -186.8 -57.4 -5.4 16.9 -50.5 36.2 -7.9 23

 24 FA644123075 Mortgage REITs 0.5 0.4 -1.2 2.7 2.1 -2.0 4.6 0.0 0.1 24

 25 FA664123005 Brokers and dealers 145.1 -43.4 518.6 -188.6 -247.2 -256.4 -144.3 -58.2 -205.2 25

 26 FA504123005 Other financial business 57.9 -35.8 47.2 -97.5 -50.1 -42.7 7.2 -58.9 -108.7 26

 27 FA264123005 Rest of the world 150.9 123.6 107.0 196.5 189.2 1.7 127.3 26.0 78.5 27

 28 FA894123005 Net change in assets 2195.8 2674.2 3584.9 3027.0 2328.7 1756.4 2904.2 -1274.7 294.8 28

 29 FA384023005 Domestic nonfinancial sectors 291.3 106.1 699.5 -52.0 -136.0 -87.2 -42.5 -195.6 -337.4 29

 30 FA154023005 Household sector 93.1 -81.6 409.3 -202.6 -269.8 -263.1 -117.8 -3.9 -266.4 30

 31 FA104023005 Nonfinancial corporate business 14.4 21.2 41.4 -74.0 37.0 80.3 40.7 -74.2 40.1 31

 32 FA114023005 Nonfinancial noncorporate business -1.8 3.8 4.6 4.6 2.9 3.1 1.2 1.9 0.6 32

 33 FA314023005 Federal government 177.9 155.0 236.5 212.4 86.2 84.8 25.7 -127.3 -119.8 33

 34 FA213065005 State and local governments 7.7 7.7 7.7 7.7 7.6 7.7 7.8 7.9 8.1 34

 35 FA794023005 Domestic financial sectors 1758.0 2474.9 2724.5 3036.0 2460.8 1678.0 2981.0 -1094.2 601.5 35

 36 FA713068005 Monetary authority -10.1 -19.2 -32.3 -22.6 -9.3 -12.6 -8.2 -12.6 -9.7 36

 37 FA764023005 U.S.-chartered depository institutions 347.3 1001.6 668.7 1596.6 973.6 767.4 533.2 271.4 162.5 37

 38 FA754023005 Foreign banking offices in U.S. 84.4 173.8 108.2 188.3 121.2 277.4 -8.7 -65.2 79.5 38

 39 FA744023003 Banks in U.S.-affiliated areas -4.4 1.7 0.0 1.5 3.8 1.5 -4.2 2.8 6.0 39

 40 FA474023000 Credit unions 92.3 245.0 210.1 315.0 278.6 176.4 138.0 113.4 123.3 40

 41 FA513065505 Property-casualty insurance companies 3.4 2.7 7.7 3.1 2.0 -1.8 0.4 5.2 0.5 41

 42 FA544023005 Life insurance companies 50.1 67.2 83.6 80.1 56.5 48.5 53.7 58.6 47.4 42

 43 FA573065005 Private pension funds 1.1 0.8 0.6 0.9 0.8 0.9 0.9 0.9 0.8 43

 44 FA313169003 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 1091.3 -1091.3 0.0 44

 45 FA223065043 State and local govt. retirement funds -0.3 -0.3 -0.5 -0.7 3.0 -3.0 4.1 -0.5 0.9 45

 46 FA653069803 Mutual funds 55.5 -18.8 82.4 -42.5 -56.1 -59.0 -41.0 -29.9 8.2 46

 47 FA404023005 Government-sponsored enterprises 719.5 903.7 1132.2 840.6 833.4 808.6 1086.2 -716.3 -6.2 47

 48 FA413065005 Agency- and GSE-backed mortgage pools 73.5 186.1 152.6 201.0 209.3 181.7 139.7 193.2 76.7 48

 49 FA674023005 ABS issuers 118.7 54.8 113.9 93.0 69.0 -56.7 82.8 2.7 36.3 49

 50 FA614023005 Finance companies -28.3 36.5 -15.8 25.8 32.9 102.9 -8.0 172.6 110.6 50

 51 FA643065075 Mortgage REITs 59.4 8.8 13.0 31.3 -21.8 12.8 -7.8 -37.3 -19.1 51

 52 FA663069005 Brokers and dealers 175.8 -178.6 61.7 -137.0 -57.7 -581.4 -71.2 -20.8 -12.1 52

 53 FA733069005 Holding companies 23.6 21.0 81.2 -20.1 19.6 3.3 -23.8 20.8 -18.6 53

 54 FA503069005 Other financial business -3.7 -11.9 57.2 -118.3 2.0 11.3 23.7 38.2 14.5 54

 55 FA263069005 Rest of the world 146.5 93.3 160.9 42.9 3.8 165.5 -34.3 15.0 30.8 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
Transactions

Z.1, December 7, 2023 61

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA793068005 Net change in liabilities 128.1 473.6 263.2 847.2 348.3 435.5 109.8 -19.0 -8.0 1

 2 FA153168005 Household sector 52.3 69.4 58.4 80.6 45.3 93.4 -85.0 -23.2 -1.2 2

 3 FA103168005 Nonfinancial corporate business -83.3 266.2 247.4 526.2 119.1 172.2 69.4 28.9 -36.4 3

 4 FA113168005 Nonfinancial noncorporate business -30.3 77.8 81.8 85.2 38.7 105.6 52.0 -39.6 -76.8 4

 5 FA793168005 Domestic financial sectors 36.7 -54.2 -208.9 -23.5 -5.0 20.7 -64.3 -24.7 26.0 5

 6 FA613168005 Finance companies 16.8 -58.2 -186.9 -57.3 -5.4 16.8 -50.5 36.1 -8.0 6

 7 FA643168073 Mortgage REITs 0.5 0.4 -1.2 2.7 2.3 -2.0 4.6 0.2 0.4 7

 8 FA663168005 Brokers and dealers 39.0 9.3 -11.9 35.7 2.2 11.4 -14.9 -56.7 38.7 8

 9 FA713068505 Other financial business (2) -19.6 -5.7 -8.9 -4.5 -4.0 -5.5 -3.6 -4.3 -5.1 9

 10 FA263168005 Rest of the world 152.5 114.3 84.6 178.8 150.2 43.4 137.8 39.5 80.4 10

 11 FA263168465 Foreign official institutions 1.0 0.1 -0.8 -1.8 1.0 2.1 -3.0 0.1 0.9 11

 12 FA263168485 Foreign nonfinancial corporations 12.3 15.8 24.9 14.1 7.5 17.0 -9.0 -28.2 9.6 12

 13 FA263168495 Foreign nondepository financial institutions 139.3 98.3 60.6 166.6 141.7 24.4 149.8 67.7 69.9 13

 14 FA793068005 Net change in assets 128.1 473.6 263.2 847.2 348.3 435.5 109.8 -19.0 -8.0 14

 15 FA713068005 Monetary authority (3) -10.1 -19.2 -32.3 -22.6 -9.3 -12.6 -8.2 -12.6 -9.7 15

 16 FA763068005 U.S.-chartered depository institutions 58.7 282.1 138.8 632.9 204.1 152.7 103.4 28.6 -111.9 16

 17 FA753068005 Foreign banking offices in U.S. 74.3 158.3 92.9 169.1 107.6 263.6 -8.6 -72.9 88.9 17

 18 FA743068005 Banks in U.S.-affiliated areas -2.9 1.4 0.4 1.5 2.2 1.4 -1.7 3.1 4.9 18

 19 FA473068005 Credit unions 7.9 51.0 63.3 66.4 43.8 30.5 25.1 34.9 19.8 19

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to Federal Reserve funding, credit, and liquidity facility special purpose vehicles.

(3) Loans from Federal Reserve banks to the household, broker and dealer, finance companies, and other financial business sectors.
Transactions

62 Z.1, December 7, 2023

F.216 Other Loans and Advances (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893169005 Total other loans and advances 574.5 528.4 1413.5 217.1 382.3 100.6 1866.0 -1989.8 -330.3 1

 2 FA163069005 Nonprofit organization loans 1.9 2.5 2.5 2.5 2.5 2.5 2.2 2.2 2.2 2

 3 FA153169055 Liab.: Household sector 0.8 1.2 1.2 1.2 1.2 1.2 1.0 1.0 1.0 3

 4 FA163069043 Nonfinancial noncorporate business 1.1 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 4

 5 FA313069205 U.S. government loans 116.6 90.7 189.2 130.9 20.1 22.5 0.1 -154.5 0.5 5

 6 FA153169203 Liab.: Household sector 8.7 7.0 7.6 8.1 7.7 4.6 4.3 5.3 0.0 6

 7 FA103169205 Nonfinancial corporate business 66.9 50.4 113.9 75.1 7.5 5.3 -7.0 -96.9 -1.1 7

 8 FA113169205 Nonfinancial noncorporate business 41.1 33.1 67.2 47.0 5.8 12.4 -0.9 -60.6 1.1 8

 9 FA213169203 State and local governments 0.5 0.7 0.5 0.4 0.6 1.5 1.1 0.8 0.0 9

 10 FA403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA313069223 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA503169205 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA263169203 Rest of the world -0.6 -0.6 -0.0 0.2 -1.5 -1.2 2.6 -3.1 0.5 13

 14 FA153169405 Policy loans (Household liability) -1.8 -0.4 -9.3 1.0 1.4 5.1 7.5 -1.1 9.8 14

 15 FA313069403 Asset: Federal government 0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 -0.0 15

 16 FA543069405 Life insurance companies -1.8 -0.4 -9.3 1.0 1.4 5.1 7.5 -1.1 9.8 16

 17 FA313169003 Federal government retirement funds loans 0.0 0.0 0.0 0.0 0.0 0.0 1091.3 -1091.3 0.0 17

 18 FA313169003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 1091.3 -1091.3 0.0 18

 19 FA403069330 Federal Home Loan Banks advances (2) -74.9 485.0 282.4 440.4 579.3 637.7 1011.2 -893.1 -185.9 19

 20 FA763169335 Liab.: U.S.-chartered depository institutions -75.7 409.2 233.9 343.3 499.3 560.1 1022.6 -867.0 -213.0 20

 21 FA473169333 Credit unions -2.5 56.0 6.5 70.4 70.6 76.4 -35.9 -10.6 17.1 21

 22 FA513169333 Property-casualty insurance companies -3.0 -1.8 -2.7 -2.2 -2.6 0.4 -1.8 -1.4 -0.9 22

 23 FA543169373 Life insurance companies 6.8 21.7 44.7 29.0 12.3 0.7 26.4 -13.9 11.0 23

 24 FA613169333 Finance companies -0.4 0.0 0.0 -0.0 -0.1 0.1 -0.0 0.1 0.1 24

 25 FA643169373 Mortgage REITs -0.0 -0.1 0.0 0.0 -0.2 0.0 0.0 -0.2 -0.2 25

 26 FA403069395 Government-sponsored enterprise (GSE) loans (3) 11.2 17.8 43.6 -11.1 14.5 24.4 10.9 15.3 32.2 26

 27 FA153169305 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FA183169305 Nonfinancial corporate business (FCS) 1.3 1.9 16.6 -5.6 -3.1 -0.1 4.5 -3.4 1.6 28

 29 FA113169305 Nonfinancial noncorporate business (FCS) 9.9 15.9 27.1 -5.5 17.6 24.5 6.4 18.7 30.6 29

 30 FA763169383 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA663067005 Margin accounts at brokers and dealers 92.4 -170.5 32.5 -160.6 -11.2 -542.9 -52.3 82.3 106.7 31

 32 FA663067003 Liab.: Household sector 106.5 -136.0 6.5 -209.2 -33.1 -308.0 -44.3 40.0 85.9 32

 33 FA663067063 Brokers and dealers -14.2 -34.6 26.0 48.6 21.9 -234.9 -7.9 42.3 20.8 33

 34 FA663167015 Cash accounts at brokers and dealers 120.2 -18.1 504.5 -272.9 -271.3 -32.9 -121.5 -43.8 -264.8 34

 35 FA153067005 Asset: Household sector 95.8 -66.2 414.4 -198.5 -263.8 -217.0 -116.2 8.2 -260.4 35

 36 FA263067005 Rest of the World (net) 24.4 48.1 90.2 -74.4 -7.5 184.1 -5.3 -52.1 -4.3 36

 37 FA503169023 Clearing funds at other financial business 77.6 -30.0 56.2 -93.0 -46.0 -37.2 10.8 -54.7 -103.6 37

 38 FA763069023 Asset: U.S.-chartered depository institutions 1.9 -3.2 -16.7 0.2 -2.2 5.7 12.7 1.4 3.8 38

 39 FA663069025 Brokers and dealers 75.0 -17.1 15.2 28.4 -49.9 -62.1 -28.0 -99.4 -123.4 39

 40 FA503069025 Other financial business 0.7 -9.7 57.6 -121.6 6.1 19.1 26.1 43.3 16.1 40

 41 FA103169803 Loans to nonfinancial corporate business (4) 114.9 30.9 144.5 24.3 13.7 -59.1 -25.6 -37.6 -11.0 41

 42 FA153069803 Asset: Household sector -8.7 -5.5 3.7 7.1 3.7 -36.6 -2.2 -7.2 -2.4 42

 43 FA543069873 Life insurance companies 5.7 1.4 4.1 -1.6 10.4 -7.3 -2.6 0.1 -5.4 43

 44 FA653069803 Mutual funds 55.5 -18.8 82.4 -42.5 -56.1 -59.0 -41.0 -29.9 8.2 44

 45 FA673069803 ABS issuers 55.1 42.9 36.7 58.3 52.2 24.5 9.7 3.9 -19.8 45

 46 FA663069803 Brokers and dealers 8.4 9.1 14.0 -4.8 3.4 23.6 9.1 -3.8 4.7 46

 47 FA503069805 Other financial business -1.1 1.8 3.6 7.7 0.0 -4.2 1.4 -0.8 3.8 47

 48 FA673069505 Securitized loans held by ABS issuers 6.5 -1.6 -1.6 -3.7 -2.5 1.4 -1.2 -0.2 2.0 48

 49 FA673069505 Liab.: Nonfinancial corporate business 6.5 -1.6 -1.6 -3.7 -2.5 1.4 -1.2 -0.2 2.0 49

 50 FA613069505 Finance company loans to business -32.6 60.2 21.1 66.6 55.2 98.2 -10.9 103.0 70.5 50

 51 FA103169535 Liab.: Nonfinancial corporate business -38.0 65.2 36.1 73.3 57.6 93.6 -6.4 98.9 66.9 51

 52 FA113169535 Nonfinancial noncorporate business 5.4 -4.9 -15.0 -6.8 -2.4 4.5 -4.5 4.1 3.6 52

 53 FA733069005 Holding company loans 23.6 21.0 81.2 -20.1 19.6 3.3 -23.8 20.8 -18.6 53

 54 FA733069013 Liab.: Nonfinancial corporate business 24.7 11.0 58.8 -37.5 -20.9 43.8 -10.8 31.2 -16.2 54

 55 FA733069023 Rest of the world -1.0 9.9 22.4 17.4 40.4 -40.5 -13.0 -10.4 -2.4 55

 56 FA503069075 Other financial business loans (5) -3.3 -4.0 -4.0 -4.4 -4.1 -3.7 -3.8 -4.3 -5.4 56

 57 FA503069003 Liab.: Household sector (TALF II) -2.2 -0.4 -0.3 -0.6 -0.3 -0.2 -0.3 -0.5 -1.8 57

 58 FA503069013 Nonfinancial corporate business (MSLF) -0.4 -1.5 -1.3 -1.4 -1.4 -2.0 -1.2 -1.3 -1.2 58

 59 FA503069023 Nonfinancial noncorporate business (MSLF) -0.6 -2.2 -2.3 -2.5 -2.4 -1.4 -2.3 -2.5 -2.3 59

 60 FA503069033 Nonprofit organizations (MSLF) -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 60

 61 FA263069500 Foreign loans to U.S. corporate business 122.1 45.2 70.8 117.3 11.3 -18.6 -29.0 67.1 35.1 61

 62 FA263069500 Liab.: Nonfinancial corporate business 122.1 45.2 70.8 117.3 11.3 -18.6 -29.0 67.1 35.1 62

(1) Customers’ liability on acceptances outstanding are included elsewhere beginning 2008q3 and are no longer shown on the table. These are assets of U.S.-chartered depository institutions

 and foreign banking offices in U.S., and liabilities of nonfinancial corporate business and rest of the world.

(2) The government-sponsored enterprises sector includes Federal Home Loan Banks. Finance companies and real estate investment trusts receive advances through affiliated captive insurance companies.

(3) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 19.

(4) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.

(5) 2020 Term Asset-Backed Securities Loan Facility (TALF II) loans to domestic hedge funds and private equity funds and Main Street Lending Facility (MSLF) loans.
Transactions

Z.1, December 7, 2023 63

F.217 Total Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893065005 Net change in mortgages 1255.4 1326.8 1556.7 1608.5 1270.6 871.2 720.9 631.4 580.7 1

 2 FA893065105 One-to-four-family residential 892.2 899.1 1095.7 1112.6 886.3 501.8 372.0 390.1 342.2 2

 3 FA893065405 Multifamily residential 144.9 164.7 166.8 174.8 156.5 160.5 129.4 113.9 110.8 3

 4 FA893065505 Commercial 182.5 252.6 284.0 310.6 217.3 198.5 199.5 107.3 107.3 4

 5 FA893065603 Farm 35.8 10.4 10.3 10.4 10.5 10.5 19.9 20.1 20.4 5

 6 FA893065005 Net borrowing 1255.4 1326.8 1556.7 1608.5 1270.6 871.2 720.9 631.4 580.7 6

 7 FA153165005 Household sector 837.3 857.9 1043.1 1059.0 845.6 483.7 374.4 394.5 349.0 7

 8 FA143165005 Nonfinancial business 418.1 468.9 513.6 549.5 425.1 387.5 346.4 236.9 231.7 8

 9 FA103165005 Corporate 77.8 156.9 187.1 176.9 159.4 104.0 110.6 45.6 57.8 9

 10 FA113165005 Noncorporate 340.3 312.1 326.5 372.5 265.7 283.5 235.8 191.4 173.9 10

 11 FA313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA893065005 Net change in assets 1255.4 1326.8 1556.7 1608.5 1270.6 871.2 720.9 631.4 580.7 12

 13 FA153065005 Household sector 6.1 -8.9 -8.4 -10.2 -8.1 -8.9 -1.4 -5.6 -2.2 13

 14 FA103065005 Nonfinancial corporate business 14.4 21.2 39.8 17.9 10.8 16.2 41.7 18.5 16.8 14

 15 FA113065005 Nonfinancial noncorporate business -1.8 3.8 4.6 4.6 2.9 3.1 1.2 1.9 0.6 15

 16 FA313065005 Federal government 6.0 13.4 7.2 13.0 19.6 13.7 6.8 4.3 11.7 16

 17 FA313065015 Ginnie Mae -0.3 -0.2 -0.3 -0.2 -0.2 -0.2 -0.8 -2.7 -2.5 17

 18 FA313065075 Farmers Home Administration (FmHA) (2) 3.4 4.4 2.1 4.3 3.1 8.0 4.2 3.3 9.9 18

 19 FA313065035 Federal Housing Administration (FHA) 2.9 9.2 5.4 9.0 16.7 5.9 3.4 3.7 4.3 19

 20 FA313065095 Other (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA213065005 State and local governments 7.7 7.7 7.7 7.7 7.6 7.7 7.8 7.9 8.1 21

 22 FA703065005 Private depository institutions 212.6 623.8 376.8 821.8 756.6 539.9 359.1 229.7 255.8 22

 23 FA763065005 U.S.-chartered depository institutions 146.5 518.6 296.3 692.8 627.3 458.2 302.6 170.4 193.0 23

 24 FA753065005 Foreign banking offices in U.S. 10.1 15.5 15.3 19.3 13.6 13.8 -0.1 7.7 -9.4 24

 25 FA743065003 Banks in U.S.-affiliated areas -1.5 0.3 -0.4 -0.0 1.6 0.1 -2.5 -0.2 1.2 25

 26 FA473065100 Credit unions 57.5 89.3 65.6 109.8 114.2 67.8 59.1 51.9 71.1 26

 27 FA513065505 Property-casualty insurance companies 3.4 2.7 7.7 3.1 2.0 -1.8 0.4 5.2 0.5 27

 28 FA543065005 Life insurance companies 46.2 66.2 88.8 80.6 44.6 50.7 48.9 59.6 42.9 28

 29 FA573065005 Private pension funds 1.1 0.8 0.6 0.9 0.8 0.9 0.9 0.9 0.8 29

 30 FA223065043 State and local govt. retirement funds -0.3 -0.3 -0.5 -0.7 3.0 -3.0 4.1 -0.5 0.9 30

 31 FA403065005 Government-sponsored enterprises 783.1 400.9 806.2 411.4 239.7 146.5 64.1 161.5 147.6 31

 32 FA403065015 Fannie Mae 309.6 177.5 377.7 221.6 43.5 67.2 7.8 65.3 31.1 32

 33 FA403065025 Freddie Mac 462.9 213.7 415.7 176.5 189.2 73.4 58.3 84.2 100.0 33

 34 FA403065045 Farm Credit System 16.9 8.4 8.0 10.3 8.4 7.0 -6.8 5.5 10.1 34

 35 FA403065035 FHLB -7.3 0.6 4.1 1.2 -1.0 -1.8 5.1 5.7 6.4 35

 36 FA403065653 Farmer Mac 1.1 0.7 0.7 1.7 -0.4 0.8 -0.4 0.9 0.0 36

 37 FA413065005 Agency- and GSE-backed mortgage pools 73.5 186.1 152.6 201.0 209.3 181.7 139.7 193.2 76.7 37

 38 FA413065015 Ginnie Mae 45.8 187.9 153.0 193.0 215.5 190.0 151.8 197.2 71.8 38

 39 FA413065025 Freddie Mac 28.0 -1.6 -0.3 8.0 -6.0 -8.0 -11.9 -6.3 5.1 39

 40 FA413065045 Fannie Mae -0.6 -0.1 -0.1 -0.0 -0.2 -0.2 -0.2 -0.2 -0.2 40

 41 FA413065653 Farmer Mac 0.3 -0.1 -0.0 0.0 -0.0 -0.2 -0.0 2.5 -0.1 41

 42 FA413065035 Farmers Home Administration (FmHA) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 FA673065005 ABS issuers 57.7 11.9 81.2 36.5 18.2 -88.3 76.3 -3.0 54.1 43

 44 FA613065000 Finance companies -13.5 -11.4 -20.6 -10.3 -14.8 0.0 -20.8 -4.8 -14.6 44

 45 FA643065075 Mortgage REITs 59.4 8.8 13.0 31.3 -21.8 12.8 -7.8 -37.3 -19.1 45

(1) Sum of one-to-four-family residential mortgages (table L.218), multifamily residential mortgages (table L.219), commercial mortgages (table L.220), and farm mortgages (table L.221).

(2) FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting changes by

 the Farmers Home Administration.

(3) Other includes Department of Veterans Affairs, Federal Financing Bank, Public Housing Administration, and Resolution Trust Corporation.
Transactions

64 Z.1, December 7, 2023

F.218 One-to-four-family Residential Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893065105 Net borrowing 892.2 899.1 1095.7 1112.6 886.3 501.8 372.0 390.1 342.2 1

 2 FA153165105 Household sector 819.9 837.7 1023.0 1038.8 825.4 463.6 348.4 368.5 322.9 2

 3 FA103165105 Nonfinancial corporate business 2.1 3.4 3.7 3.8 4.4 1.7 0.5 -2.4 -2.3 3

 4 FA113165105 Nonfinancial noncorporate business 70.2 58.0 69.0 70.0 56.6 36.5 23.1 24.1 21.6 4

 5 FA893065105 Net change in assets 892.2 899.1 1095.7 1112.6 886.3 501.8 372.0 390.1 342.2 5

 6 FA153065103 Household sector -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 6

 7 FA103065105 Nonfinancial corporate business 5.8 7.5 7.0 7.2 7.6 8.1 9.0 9.0 9.5 7

 8 FA113065103 Nonfinancial noncorporate business -0.6 1.4 1.7 1.7 1.1 1.1 0.4 0.7 0.2 8

 9 FA313065105 Federal government 2.2 9.0 4.8 8.5 16.3 6.4 3.0 1.2 3.0 9

 10 FA213065103 State and local governments 3.6 3.6 3.6 3.6 3.6 3.7 3.7 3.8 4.0 10

 11 FA763065105 U.S.-chartered depository institutions 25.8 248.0 91.3 384.9 318.4 197.1 116.5 33.1 88.9 11

 12 FA753065103 Foreign banking offices in U.S. -0.0 -0.3 -0.4 0.0 -0.3 -0.5 -0.1 -0.3 -0.4 12

 13 FA743065103 Banks in U.S.-affiliated areas -1.5 -0.6 -1.2 -0.8 -0.4 0.1 -1.6 -0.0 0.6 13

 14 FA473065100 Credit unions 57.5 89.3 65.6 109.8 114.2 67.8 59.1 51.9 71.1 14

 15 FA543065105 Life insurance companies 10.7 15.4 16.8 16.7 13.0 15.2 3.8 3.8 4.6 15

 16 FA573065103 Private pension funds -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

 17 FA223065143 State and local govt. retirement funds -0.1 -0.1 -0.2 -0.2 1.1 -1.1 1.5 -0.2 0.3 17

 18 FA403065105 Government-sponsored enterprises 738.9 349.3 773.1 384.1 206.8 33.3 36.5 101.3 82.0 18

 19 FA413065105 Agency- and GSE-backed mortgage pools 35.4 178.3 140.5 188.2 205.9 178.4 142.9 186.8 70.0 19

 20 FA673065105 ABS issuers 3.8 12.8 27.8 21.9 15.2 -13.9 14.8 7.9 12.9 20

 21 FA613065105 Finance companies -12.0 -9.9 -24.9 -10.8 -7.3 3.6 -19.0 -1.3 -6.5 21

 22 FA643065173 Mortgage REITs 26.5 -1.0 -6.3 1.6 -5.3 6.0 5.2 -3.9 5.5 22

 Memo:

 23 FV893065153 Charge-offs (2) 4.6 3.6 0.8 1.0 0.9 0.9 0.9 0.8 1.8 23

 24 FA893065125 Home equity loans included above (3) -44.1 32.3 -37.5 61.7 56.5 48.4 11.1 35.5 46.4 24

 25 FA763065125 U.S.-chartered depository institutions -41.0 12.7 -17.3 27.3 23.3 17.6 -7.0 4.6 10.8 25

 26 FA753065203 Foreign banking offices in U.S. -0.0 -0.0 -0.0 0.0 -0.1 -0.0 0.0 -0.0 -0.0 26

 27 FA473065125 Credit unions 0.2 22.5 -15.3 37.5 36.3 31.6 19.3 28.5 35.6 27

 28 FA673065123 ABS issuers -0.9 -1.0 -1.7 -0.5 -1.1 -0.7 0.8 3.1 1.9 28

 29 FA613065123 Finance companies -2.4 -2.0 -3.2 -2.7 -1.8 -0.2 -2.0 -0.7 -1.8 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from transactions (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; quarterly figures are seasonally adjusted annual rates

 1 FA893065405 Net borrowing 144.9 164.7 166.8 174.8 156.5 160.5 129.4 113.9 110.8 1

 2 FA103165405 Nonfinancial corporate business 8.0 6.2 6.1 8.8 1.3 8.4 7.8 4.8 8.2 2

 3 FA113165405 Nonfinancial noncorporate business 136.9 158.5 160.7 166.0 155.2 152.0 121.6 109.1 102.6 3

 4 FA313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA893065405 Net change in assets 144.9 164.7 166.8 174.8 156.5 160.5 129.4 113.9 110.8 5

 6 FA153065403 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FA103065405 Nonfinancial corporate business 0.7 -1.5 -1.0 -1.4 -2.2 -1.5 0.3 1.3 0.6 7

 8 FA113065403 Nonfinancial noncorporate business -0.6 1.3 1.6 1.6 1.0 1.1 0.4 0.7 0.2 8

 9 FA313065405 Federal government -0.3 -0.3 -0.3 -0.3 -0.2 -0.4 -0.3 0.1 -0.5 9

 10 FA213065403 State and local governments 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 10

 11 FA763065405 U.S.-chartered depository institutions 34.1 93.2 70.2 120.6 113.6 68.3 70.8 35.7 28.0 11

 12 FA753065403 Foreign banking offices in U.S. 1.9 5.9 -0.1 13.9 6.6 3.3 -0.7 4.4 -0.4 12

 13 FA543065405 Life insurance companies 25.4 14.9 20.5 17.6 9.9 11.8 12.9 17.4 17.8 13

 14 FA573065403 Private pension funds -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 0.0 0.0 14

 15 FA223065443 State and local govt. retirement funds -0.1 -0.1 -0.1 -0.2 0.9 -0.9 1.2 -0.2 0.3 15

 16 FA403065405 Government-sponsored enterprises 25.5 44.4 25.9 19.1 26.7 105.9 18.2 49.5 55.6 16

 17 FA413065405 Agency- and GSE-backed mortgage pools 37.7 7.9 12.1 12.8 3.4 3.4 -3.2 3.9 6.7 17

 18 FA673065405 ABS issuers 12.4 -5.4 26.5 -14.8 -1.0 -32.2 28.0 -1.4 6.3 18

 19 FA613065403 Finance companies 0.1 -0.7 1.2 1.2 -5.7 0.3 -0.3 0.6 -6.0 19

 20 FA643065473 Mortgage REITs 4.6 1.8 7.1 1.5 0.3 -1.9 -1.3 -1.7 -1.4 20
Transactions

Z.1, December 7, 2023 65

F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893065505 Net borrowing 182.5 252.6 284.0 310.6 217.3 198.5 199.5 107.3 107.3 1

 2 FA163165505 Nonprofit organizations (1) 17.4 20.2 20.2 20.2 20.2 20.2 26.0 26.0 26.0 2

 3 FA103165505 Nonfinancial corporate business 57.0 144.0 173.1 160.9 151.2 90.8 96.7 37.8 45.7 3

 4 FA113165505 Nonfinancial noncorporate business 108.1 88.4 90.7 129.5 45.9 87.5 76.8 43.4 35.6 4

 5 FA893065505 Net change in assets 182.5 252.6 284.0 310.6 217.3 198.5 199.5 107.3 107.3 5

 6 FA153065505 Household sector 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 6

 7 FA103065505 Nonfinancial corporate business 7.9 15.3 33.9 12.1 5.4 9.7 32.4 8.2 6.8 7

 8 FA113065503 Nonfinancial noncorporate business -0.5 1.0 1.3 1.3 0.8 0.8 0.3 0.5 0.2 8

 9 FA313065505 Federal government 2.8 3.7 2.1 3.6 2.2 6.8 3.2 1.7 8.3 9

 10 FA213065503 State and local governments 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 10

 11 FA763065505 U.S.-chartered depository institutions 82.6 171.3 128.7 181.1 189.0 186.4 108.9 95.1 69.5 11

 12 FA753065503 Foreign banking offices in U.S. 8.3 9.9 15.9 5.2 7.4 11.0 0.9 3.7 -8.8 12

 13 FA743065505 Banks in U.S.-affiliated areas 0.0 0.9 0.8 0.7 2.0 -0.0 -0.9 -0.2 0.5 13

 14 FA513065505 Property-casualty insurance companies 3.4 2.7 7.7 3.1 2.0 -1.8 0.4 5.2 0.5 14

 15 FA543065505 Life insurance companies 8.0 34.4 50.1 44.9 20.3 22.4 30.9 37.0 19.1 15

 16 FA573065505 Private pension funds 1.5 1.2 1.0 1.3 1.2 1.3 1.3 1.0 0.9 16

 17 FA223065545 State and local govt. retirement funds -0.1 -0.1 -0.2 -0.2 1.0 -1.0 1.4 -0.2 0.3 17

 18 FA413065505 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FA673065505 ABS issuers 41.4 4.5 26.9 29.4 4.0 -42.3 33.5 -9.5 34.9 19

 20 FA613065503 Finance companies -1.7 -0.8 3.1 -0.7 -1.7 -4.0 -1.6 -4.0 -2.1 20

 21 FA643065573 Mortgage REITs 28.4 8.1 12.2 28.2 -16.7 8.7 -11.7 -31.8 -23.2 21

(1) Liability of the households and nonprofit organizations sector (table F.101).

F.221 Farm Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893065603 Net borrowing 35.8 10.4 10.3 10.4 10.5 10.5 19.9 20.1 20.4 1

 2 FA183165605 Nonfinancial corporate business 10.7 3.3 4.2 3.4 2.6 3.0 5.6 5.4 6.3 2

 3 FA233165605 Nonfinancial noncorporate business 25.1 7.1 6.0 6.9 7.9 7.5 14.3 14.7 14.1 3

 4 FA893065603 Net change in assets 35.8 10.4 10.3 10.4 10.5 10.5 19.9 20.1 20.4 4

 5 FA153065605 Household sector 9.5 -5.5 -5.0 -6.9 -4.7 -5.5 2.0 -2.2 1.3 5

 6 FA113065603 Nonfinancial noncorporate business -0.0 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 6

 7 FA313065605 Federal government 1.2 1.0 0.6 1.2 1.3 0.9 0.9 1.3 1.0 7

 8 FA213065603 State and local governments 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 8

 9 FA763065633 U.S.-chartered depository institutions 4.0 6.2 6.1 6.2 6.2 6.3 6.4 6.4 6.5 9

 10 FA753065603 Foreign banking offices in U.S. 0.0 0.0 -0.1 0.2 -0.0 0.1 -0.2 -0.1 0.2 10

 11 FA543065633 Life insurance companies 2.1 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 11

 12 FA223065643 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA403065605 Government-sponsored enterprises 18.7 7.2 7.1 8.2 6.2 7.3 9.4 10.8 10.0 13

 14 FA413065605 Agency- and GSE-backed mortgage pools 0.3 -0.1 -0.0 0.0 -0.0 -0.2 -0.0 2.5 -0.1 14

(1) Excludes mortgages on farm houses.
Transactions

66 Z.1, December 7, 2023

F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA153166000 Net change in liabilities (Households) 237.8 345.5 351.5 354.1 327.4 349.0 207.6 102.7 52.4 1

 2 FA153166000 Net change in assets 237.8 345.5 351.5 354.1 327.4 349.0 207.6 102.7 52.4 2

 3 FA163066223 Nonprofit organizations (1) -2.0 -3.4 -2.9 -3.4 -4.0 -3.1 -0.3 -1.5 -3.6 3

 4 FA103066005 Nonfinancial corporate business -0.0 -0.0 1.5 -91.9 26.2 64.1 -1.0 -92.7 23.3 4

 5 FA113066003 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA313066220 Federal government (2) 55.4 51.0 40.1 68.5 46.5 48.7 18.8 22.9 -132.0 6

 7 FA763066000 U.S.-chartered depository institutions 140.2 204.1 250.3 270.7 144.4 150.9 114.6 71.1 77.6 7

 8 FA473066000 Credit unions 26.9 104.7 81.1 138.8 120.6 78.1 53.8 26.6 32.4 8

 9 FA403066005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA673066000 ABS issuers -0.5 1.6 -2.4 1.9 1.1 5.7 -2.1 2.0 0.1 10

 11 FA613066005 Finance companies 17.8 -12.4 -16.3 -30.5 -7.5 4.7 23.8 74.4 54.7 11

 Memo:

 12 FA153166100 Credit card loans (3) 65.7 159.1 173.4 151.4 147.2 164.4 110.0 81.5 128.4 12

 13 FA153166400 Auto loans 90.4 106.8 95.8 105.3 108.0 118.1 92.0 41.8 62.5 13

 14 FA153166220 Student loans (4) 39.6 30.7 13.1 27.6 28.3 53.5 0.4 1.8 -154.0 14

 15 FA153166205 Other consumer credit (5) 42.2 49.0 69.3 69.8 43.8 13.1 5.3 -22.4 15.4 15

(1) Student loans originated under the Federal Family Education Loan Program. Assets of the households and nonprofit organizations sector (table F.101).

(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.

F.223 Direct Investment Intercompany Debt

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 U.S. direct investment abroad: Intercompany Debt

 1 FA263192305 Liab.: Rest of the world (1) -64.0 -41.4 -157.6 117.6 -147.1 21.6 150.0 -67.6 119.2 1

 2 FA263192313 U.S. parents’ claims 20.6 -11.3 24.1 50.9 -129.9 10.0 140.5 3.8 171.2 2

 3 FA263092313 Less: U.S. parents’ liabilities 84.7 30.1 181.7 -66.8 17.2 -11.6 -9.5 71.3 52.0 3

 4 FA103092305 Asset: Nonfinancial corporate business -52.7 -26.6 -132.5 109.6 -102.5 19.0 123.7 -54.8 81.9 4

 5 FA763092305 U.S.-chartered depository institutions -2.6 -3.6 -5.5 1.3 -9.4 -0.7 7.0 -3.4 7.1 5

 6 FA513092305 Property-casualty insurance companies -2.0 -2.5 -4.4 1.6 -8.0 0.8 4.4 -2.2 4.6 6

 7 FA543092375 Life insurance companies -0.7 -0.2 -0.8 0.7 -1.1 0.5 0.4 -0.3 0.1 7

 8 FA613092305 Finance companies -2.9 -4.4 -7.0 2.1 -13.2 0.6 7.6 -3.6 8.0 8

 9 FA663092305 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA733092305 Holding companies -3.2 -4.1 -7.3 2.4 -12.9 1.5 6.9 -3.4 17.5 10

 Foreign direct investment in U.S.: Intercompany debt

 11 FA103192305 Liab.: Nonfinancial corporate business -1.1 69.5 42.7 48.7 120.4 66.2 -26.5 -0.4 -50.5 11

 12 FA115114305 Nonfinancial noncorporate business -0.2 0.2 0.3 -0.2 0.8 0.1 -0.7 0.0 -0.8 12

 13 FA753192305 Foreign banking offices in U.S. -2.4 -0.2 -1.2 -1.6 1.7 0.4 -1.0 1.8 1.1 13

 14 FA513192305 Property-casualty insurance companies -0.7 0.2 -0.3 -0.6 2.0 -0.4 -0.9 0.9 -1.0 14

 15 FA543192375 Life insurance companies -0.8 -4.7 -4.7 -6.9 -3.6 -3.8 -0.1 0.8 4.5 15

 16 FA613192305 Finance companies 0.4 -0.0 0.2 -0.5 1.1 -0.9 -1.6 -0.1 -1.1 16

 17 FA663192305 Brokers and dealers 1.6 -1.0 -1.0 -3.7 -1.3 2.0 -0.8 2.6 -0.4 17

 18 FA733192305 Holding companies 2.9 -35.4 -13.6 -38.2 -35.2 -54.7 3.3 9.6 21.1 18

 19 FA503192305 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA263092305 Asset: Rest of the world (1) -0.5 28.6 22.4 -3.0 85.9 8.9 -28.4 15.3 -27.1 20

 21 FA263092323 U.S. affiliates’ liabilities -2.8 22.5 19.6 -3.7 91.0 -16.9 -9.3 39.2 -1.7 21

 22 FA263192323 Less: U.S. affiliates’ claims -2.3 -6.1 -2.8 -0.7 5.1 -25.9 19.1 23.9 25.4 22

 Memo:

 23 FA263192005 Total U.S. direct investment abroad (1, 2) 311.8 402.2 406.0 465.6 276.8 460.5 425.4 258.5 361.9 23

 24 FA263092001 Total Foreign direct investment in U.S. (1, 2) 410.8 364.0 327.3 360.6 463.4 304.9 438.8 306.7 384.2 24

(1) Direct investment is presented on a directional basis and reported at market value.

(2) Memo totals are the sum of direct investment equity (tables F.225.a and L.225.a) and intercompany debt (tables F.223 and L.223).
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F.224 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893064105 Net issues 842.2 176.9 325.7 460.6 460.3 -539.1 -284.0 157.5 109.8 1

 2 FA103164105 Nonfinancial corporate business -166.3 -515.7 -531.8 -732.4 -527.2 -271.6 -385.9 -356.9 -378.6 2

 3 FA793164105 Domestic financial sectors 811.3 506.9 527.0 486.7 339.1 674.9 285.1 484.7 366.3 3

 4 FA763164103 U.S.-chartered depository institutions 2.3 17.3 -26.6 9.0 3.9 82.9 -41.0 0.5 3.7 4

 5 FA513164103 Property-casualty insurance companies -9.7 -16.3 -17.0 -18.6 -17.1 -12.6 -13.2 -12.4 -10.5 5

 6 FA543164173 Life insurance companies -24.6 -30.5 -35.4 -30.2 -32.7 -23.6 -23.2 -27.2 -22.7 6

 7 FA554090005 Closed-end funds 17.2 -0.5 1.5 2.2 -2.1 -3.5 1.2 0.4 -1.4 7

 8 FA564090005 Exchange-traded funds 935.5 609.3 870.3 556.6 395.3 614.9 423.6 630.4 420.5 8

 9 FA403164105 Government-sponsored enterprises -1.5 18.2 5.5 21.4 21.9 24.1 37.4 -24.0 -7.2 9

 10 FA643164103 Mortgage REITs 7.0 -6.1 -8.3 -9.9 -10.2 4.0 2.6 0.5 -9.4 10

 11 FA663164103 Brokers and dealers -4.8 -6.9 -28.7 0.1 3.6 -2.7 11.1 21.7 17.0 11

 12 FA733164103 Holding companies -110.1 -77.5 -234.2 -43.8 -23.5 -8.5 -113.3 -105.2 -23.8 12

 13 FA503164105 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA263164100 Rest of the world (2) 197.3 185.7 330.5 706.3 648.4 -942.4 -183.2 29.8 122.2 14

 15 FA893064105 Net purchases 842.2 176.9 325.7 460.6 460.3 -539.1 -284.0 157.5 109.8 15

 16 FA153064105 Household sector 1139.8 677.6 1087.0 52.6 727.0 844.1 21.5 -282.2 770.8 16

 17 FA103064103 Nonfinancial corporate business -101.4 -137.3 -158.1 -132.1 -125.1 -134.0 -137.3 -137.3 -137.3 17

 18 FA313064105 Federal government -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FA213064103 State and local governments -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 19

 20 FA713064103 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA763064103 U.S.-chartered depository institutions 2.4 -1.9 2.3 -7.8 -0.9 -1.2 -1.3 5.2 4.7 21

 22 FA753064103 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA513064105 Property-casualty insurance companies 2.6 38.5 146.6 11.8 35.0 -39.3 -61.3 -15.6 -31.4 23

 24 FA543064105 Life insurance companies -78.2 -2.2 16.0 25.1 -16.7 -33.1 -19.9 -13.7 -54.6 24

 25 FA573064105 Private pension funds -295.0 -137.2 -107.7 -158.0 -133.7 -149.2 -206.3 -163.0 -128.5 25

 26 FA343064105 Federal government retirement funds 10.2 -6.0 -31.8 17.5 -13.6 3.9 -0.0 14.3 22.3 26

 27 FA223064145 State and local govt. retirement funds -102.9 -98.6 -100.1 -212.5 -24.1 -57.5 -318.3 161.3 -144.4 27

 28 FA653064100 Mutual funds -316.7 -388.2 -522.1 -326.4 -251.4 -452.8 -280.6 -360.7 -290.9 28

 29 FA553064103 Closed-end funds 8.0 0.1 1.2 1.6 -0.0 -2.2 0.1 0.4 -0.0 29

 30 FA563064100 Exchange-traded funds 731.6 416.2 704.2 376.2 213.3 370.8 203.7 439.2 296.6 30

 31 FA663064103 Brokers and dealers -33.7 -13.7 65.7 -74.7 93.6 -139.3 213.7 88.2 -58.6 31

 32 FA503064105 Other financial business -8.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 FA263064105 Rest of the world (3) -112.4 -167.2 -774.0 890.7 -39.4 -746.0 305.5 425.0 -135.4 33

(1) Includes shares of exchange-traded funds, closed-end funds, and real estate investment trusts. Excludes mutual fund shares shown on table F.226.

(2) Net purchases of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Net purchases of U.S. issues by foreign residents.
Transactions

68 Z.1, December 7, 2023

F.225 Other Equity (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893181115 Net issues 676.0 665.0 636.1 486.2 837.8 699.9 904.2 553.4 778.9 1

 2 FA103192105 Nonfinancial corporate business 385.8 264.7 265.5 292.7 293.7 206.8 445.1 246.8 394.7 2

 3 FA113181115 Nonfinancial noncorporate business -128.6 -94.8 -86.8 -160.9 -45.8 -85.6 -59.6 35.6 29.5 3

 4 FA713164005 Monetary authority 0.0 1.1 1.8 2.4 0.6 -0.2 1.6 0.9 1.3 4

 5 FA763194603 U.S.-chartered depository institutions 123.4 -139.6 -261.2 -254.8 -204.5 162.1 246.6 36.5 -20.8 5

 6 FA753181115 Foreign banking offices in U.S. 14.6 11.3 94.5 -99.3 56.3 -6.4 44.9 13.4 113.3 6

 7 FA513181115 Property-casualty insurance companies 7.5 15.4 12.0 15.0 23.2 11.6 7.2 13.0 3.4 7

 8 FA543181115 Life insurance companies 0.7 6.4 7.0 -10.7 10.0 19.2 9.2 11.2 5.7 8

 9 FA403192405 Government-sponsored enterprises -0.9 20.0 5.8 24.6 23.3 26.1 46.2 -21.0 -8.5 9

 10 FA613192103 Finance companies 8.8 1.0 4.3 1.1 4.4 -5.7 -6.8 1.0 -5.0 10

 11 FA663181115 Brokers and dealers 15.7 76.2 -12.6 197.7 163.2 -43.4 -84.7 -35.8 10.6 11

 12 FA733192103 Holding companies -36.8 63.1 41.0 137.5 88.1 -14.1 -21.9 -72.7 3.2 12

 13 FA503181115 Other financial business -91.2 -5.9 -0.0 -13.3 0.0 -10.2 0.0 -8.0 2.9 13

 14 FA263181115 Rest of the World 377.0 446.0 564.8 354.2 425.3 439.5 276.5 332.4 248.5 14

 15 FA893081115 Net purchases 676.0 665.0 636.1 486.2 837.8 699.9 904.2 553.4 778.9 15

 16 FA153081115 Households -113.7 -91.6 -132.8 -164.8 -31.5 -37.1 -27.9 43.4 31.7 16

 17 FA103081115 Nonfinancial corporate business 293.2 357.8 446.7 294.7 324.4 365.5 168.9 208.0 119.6 17

 18 FA113092405 Nonfinancial noncorporate business 1.3 0.9 0.1 0.3 3.5 -0.3 7.3 2.7 1.1 18

 19 FA313081115 Federal government -91.5 -3.5 1.2 -7.0 1.3 -9.5 1.1 -1.7 8.7 19

 20 FA763081115 U.S.-chartered depository institutions 8.7 35.0 27.0 26.3 51.2 35.5 34.4 -4.4 -13.9 20

 21 FA473092403 Credit unions 0.4 2.0 0.1 3.1 2.1 2.5 -0.4 -0.5 1.2 21

 22 FA513081115 Property-casualty insurance companies 16.8 11.7 14.5 2.1 18.7 11.4 8.8 29.9 22.6 22

 23 FA543081115 Life insurance companies 1.3 0.8 6.1 -6.7 1.9 2.0 22.8 5.0 21.9 23

 24 FA613081115 Finance companies 24.4 33.2 32.8 16.8 40.8 42.6 29.0 29.8 20.4 24

 25 FA643092473 Mortgage REITs 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 25

 26 FA663092103 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA733081115 Holding companies 107.4 -17.8 -159.1 64.3 3.6 20.1 162.2 -38.4 61.3 27

 28 FA503094505 Other financial business 16.6 0.9 94.7 -106.6 44.1 -28.7 30.9 -11.8 93.2 28

 29 FA263092101 Rest of the World 411.3 335.5 304.9 363.6 377.5 295.9 467.2 291.4 411.3 29

(1) Other equity is the sum of direct investment equity and miscellaneous other equity.

F.225.a Direct Investment Equity

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 U.S. direct investment abroad: Equity

 1 FA263192101 Liab.: Rest of the world (1) 375.8 443.6 563.6 348.0 423.9 438.9 275.4 326.1 242.8 1

 2 FA103092105 Asset: Nonfinancial corporate business 293.1 357.7 445.2 295.4 324.6 365.7 167.4 208.5 119.8 2

 3 FA763092100 U.S.-chartered depository institutions 11.1 15.6 23.0 -0.5 30.0 9.9 -6.3 19.8 -3.2 3

 4 FA513092103 Property-casualty insurance companies 16.9 11.9 14.7 2.5 19.0 11.4 9.0 29.9 22.6 4

 5 FA543092173 Life insurance companies 0.0 1.9 3.9 -4.5 4.3 3.7 24.0 2.6 20.4 5

 6 FA613092103 Finance companies 24.4 33.2 32.8 16.8 40.8 42.6 29.0 29.8 20.4 6

 7 FA663092103 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA733092103 Holding companies 30.3 23.2 43.9 38.3 5.1 5.6 52.4 35.5 62.8 8

 Foreign direct investment in U.S.: Equity

 9 FA103192105 Liab.: Nonfinancial corporate business 385.8 264.7 265.5 292.7 293.7 206.8 445.1 246.8 394.7 9

 10 FA115114103 Nonfinancial noncorporate business 0.8 0.5 1.4 -0.3 0.2 0.6 0.5 1.4 1.3 10

 11 FA753192103 Foreign banking offices in U.S. -2.0 10.4 -0.1 7.2 12.2 22.3 14.0 25.1 20.1 11

 12 FA513192103 Property-casualty insurance companies 6.5 14.5 9.7 14.0 22.9 11.3 5.6 13.5 4.3 12

 13 FA543192173 Life insurance companies 0.7 6.4 7.0 -10.7 10.0 19.2 9.2 11.2 5.7 13

 14 FA613192103 Finance companies 8.8 1.0 4.3 1.1 4.4 -5.7 -6.8 1.0 -5.0 14

 15 FA663192103 Brokers and dealers 47.4 -25.1 -23.8 -78.0 -53.9 55.4 21.5 65.0 -13.1 15

 16 FA733192103 Holding companies -36.8 63.1 41.0 137.5 88.1 -14.1 -21.9 -72.7 3.2 16

 17 FA503192103 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA263092101 Asset: Rest of the world (1) 411.3 335.5 304.9 363.6 377.5 295.9 467.2 291.4 411.3 18

 Memo:

 19 FA263192005 Total U.S. direct investment abroad (1, 2) 311.8 402.2 406.0 465.6 276.8 460.5 425.4 258.5 361.9 19

 20 FA263092001 Total Foreign direct investment in U.S. (1, 2) 410.8 364.0 327.3 360.6 463.4 304.9 438.8 306.7 384.2 20

(1) Direct investment is presented on a directional basis and reported at market value.

(2) Memo totals are the sum of direct investment equity (tables F.225.a and L.225.a) and intercompany debt (tables F.223 and L.223).
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F.225.b Miscellaneous Other Equity

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893194905 Net issues -111.0 -114.1 -232.4 -225.4 36.4 -34.9 161.6 -64.1 124.9 1

 Proprietors’ Equity in Noncorporate Business

 2 FA112090205 Liab.: Nonfinancial corporate business -129.5 -95.2 -88.1 -160.6 -45.9 -86.2 -60.1 34.2 28.2 2

 3 FA662090003 Brokers and dealers 15.8 3.7 -44.7 -4.2 14.4 49.0 32.2 9.1 3.6 3

 4 FA152090205 Asset: Households -113.7 -91.6 -132.8 -164.8 -31.5 -37.1 -27.9 43.4 31.7 4

 Federal government equity in IBRD, etc.:

 5 FA313092803 Liab.: Rest of the world 1.2 2.4 1.2 6.3 1.3 0.7 1.1 6.3 5.7 5

 6 FA313092803 Asset: Federal government 1.2 2.4 1.2 6.3 1.3 0.7 1.1 6.3 5.7 6

 Federal Reserve Bank stock:

 7 FA713164003 Liab.: Monetary authority 1.5 1.1 1.8 2.4 0.6 -0.2 1.6 0.9 1.3 7

 8 FA713164003 Asset: U.S.-chartered depository institutions 1.5 1.1 1.8 2.4 0.6 -0.2 1.6 0.9 1.3 8

 Equity in government-sponsored enterprises:

 9 FA403192405 Liab.: Government-sponsored enterprises -0.9 20.0 5.8 24.6 23.3 26.1 46.2 -21.0 -8.5 9

 10 FA103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.2 0.1 1.5 -0.6 -0.2 -0.2 1.5 -0.5 -0.2 10

 11 FA113092405 Nonfinancial noncorporate (FCS) 1.3 0.9 0.1 0.3 3.5 -0.3 7.3 2.7 1.1 11

 12 FA313092403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA763092405 U.S.-chartered depository institutions (FHLB) -3.9 18.3 2.2 24.4 20.6 25.9 39.1 -25.1 -12.0 13

 14 FA473092403 Credit unions (FHLB) 0.4 2.0 0.1 3.1 2.1 2.5 -0.4 -0.5 1.2 14

 15 FA513092403 Property-casualty insurance companies (FHLB) -0.2 -0.3 -0.3 -0.4 -0.3 -0.0 -0.2 0.0 -0.0 15

 16 FA543092473 Life insurance companies (FHLB) 1.3 -1.0 2.2 -2.2 -2.4 -1.7 -1.1 2.4 1.4 16

 17 FA613092403 Finance companies (FHLB) -0.0 -0.0 0.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 17

 18 FA643092473 Mortgage REITs (FHLB) 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 18

 Holding company equity investment in affiliates:

 19 FA763194603 Liab.: U.S.-chartered depository institutions 123.4 -139.6 -261.2 -254.8 -204.5 162.1 246.6 36.5 -20.8 19

 20 FA513194603 Property-casualty insurance companies 1.1 0.9 2.3 1.0 0.3 0.2 1.6 -0.4 -0.9 20

 21 FA543194603 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA663194605 Brokers and dealers -47.5 97.7 55.8 279.9 202.7 -147.8 -138.4 -109.9 20.2 22

 23 FA733094635 Asset: Holding companies 77.1 -41.0 -203.1 26.0 -1.5 14.5 109.8 -73.9 -1.5 23

 Other financial business investment in affiliates:

 24 FA753194503 Liab.: Foreign banking offices in U.S. 16.6 0.9 94.7 -106.6 44.1 -28.7 30.9 -11.8 93.2 24

 25 FA663194505 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FA503094505 Asset: Other financial business 16.6 0.9 94.7 -106.6 44.1 -28.7 30.9 -11.8 93.2 26

 Federal gov’t investment in Federal Reserve facilities:

 27 FA313094213 Liab.: Monetary authority -1.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FA503194205 Other financial business -91.2 -5.9 -0.0 -13.3 0.0 -10.2 0.0 -8.0 2.9 28

 29 FA313094205 Asset: Federal government -92.7 -5.9 -0.0 -13.3 0.0 -10.2 0.0 -8.0 2.9 29

 Equity investment under Public-Private Inv. Program:

 30 FA503194305 Liab.: Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA153094305 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FA313094303 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
Transactions

70 Z.1, December 7, 2023

F.226 Mutual Fund Shares (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA653164205 Net issues 216.4 -800.0 -443.9 -1152.8 -589.6 -1013.7 -147.9 -324.6 -308.5 1

 2 FA653164205 Net purchases 216.4 -800.0 -443.9 -1152.8 -589.6 -1013.7 -147.9 -324.6 -308.5 2

 3 FA153064205 Household sector 542.9 -728.2 -611.9 -1253.8 -467.2 -579.8 -120.0 110.5 -206.7 3

 4 FA103064203 Nonfinancial corporate business 22.0 -4.4 -4.4 -4.4 -4.4 -4.4 -4.4 -4.4 -4.4 4

 5 FA213064203 State and local governments 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 5

 6 FA763064203 U.S.-chartered depository institutions 2.0 -2.3 -3.4 -1.9 8.2 -12.3 -1.7 2.0 -3.8 6

 7 FA473064205 Credit unions 1.6 -1.4 2.9 -3.0 -4.2 -1.4 -1.7 -0.8 1.6 7

 8 FA513064205 Property-casualty insurance companies -1.0 -0.6 1.8 -8.2 2.8 1.5 -5.8 -0.1 -1.3 8

 9 FA543064205 Life insurance companies -137.6 -87.8 -124.9 -105.2 -72.7 -48.6 -128.4 -111.8 -112.5 9

 10 FA573064205 Private pension funds -83.4 -42.5 -1.3 -51.5 -59.8 -57.5 56.0 -59.9 -76.1 10

 11 FA223064205 State and local govt. retirement funds -163.1 -12.2 13.4 -4.4 -4.5 -53.2 131.8 -106.0 -36.5 11

 12 FA263064203 Rest of the world 31.8 78.1 282.5 278.3 11.0 -259.2 -74.9 -155.4 129.9 12

(1) Shares of open-end investment companies; excludes shares of money market funds and exchange-traded funds.
Transactions

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F.228 Life Insurance Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893140005 Net change in liabilities 69.1 64.4 69.7 76.1 74.8 36.9 89.4 71.8 19.0 1

 2 FA313140003 Federal government 0.3 0.4 0.9 -0.3 1.0 -0.1 2.0 -0.2 2.9 2

 3 FA543140005 Life insurance companies 48.0 72.1 76.9 84.5 81.9 45.1 82.7 69.2 14.6 3

 4 FA263140005 Rest of the world 20.7 -8.1 -8.1 -8.1 -8.1 -8.1 4.7 2.8 1.6 4

 5 FA893140005 Net change in assets 69.1 64.4 69.7 76.1 74.8 36.9 89.4 71.8 19.0 5

 6 FA153040005 Household sector 30.9 59.4 62.7 70.0 67.5 37.3 66.6 74.5 11.2 6

 7 FA763040005 U.S.-chartered depository institutions 13.3 6.5 8.6 7.7 8.8 1.1 5.3 -14.9 -0.7 7

 8 FA543040005 Life insurance companies 22.2 -5.6 -5.6 -5.6 -5.6 -5.6 13.5 8.2 4.5 8

 9 FA733040005 Holding companies 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 9

 10 FA543141905 Rest of the world -1.4 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 10

F.229 Pension Entitlements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893150005 Net change in liabilities 317.3 622.1 655.3 615.3 664.0 553.9 652.2 594.2 458.5 1

 2 FA543150005 Life insurance companies (1) -31.1 109.9 60.5 97.6 188.5 92.8 129.6 169.1 8.5 2

 3 FA574190005 Private pension funds (2) 5.3 68.0 58.8 54.6 59.0 99.8 111.3 24.3 23.7 3

 4 FA344090005 Federal government retirement funds (3) 74.7 72.3 150.5 102.5 45.6 -9.4 86.4 88.7 91.1 4

 5 FA224190005 State and local govt. retirement funds 226.2 285.6 299.2 274.3 284.7 284.5 299.6 302.0 290.0 5

 6 FA263150005 Rest of the world 42.4 86.3 86.3 86.3 86.3 86.3 25.3 10.1 45.3 6

 7 FA893150005 Net change in assets 317.3 622.1 655.3 615.3 664.0 553.9 652.2 594.2 458.5 7

 8 FA153050005 Households (4) 230.4 517.1 550.3 510.3 559.0 448.9 604.4 575.1 361.0 8

 9 FA543050005 Life insurance companies 88.5 104.5 104.5 104.5 104.5 104.5 47.6 19.0 97.5 9

 10 FA543151905 Rest of the world -1.6 0.5 0.5 0.5 0.5 0.5 0.1 0.1 0.0 10

 Memo:

 11 FA893131573 Individual Retirement Accounts (IRAs): (5) 475.0 -242.6 -205.8 -365.7 -437.0 38.2 28.2 196.9 ND 11

 12 FA763131573 U.S.-chartered depository institutions -8.4 -32.1 -55.4 230.3 -253.2 -50.2 -356.5 46.6 ND 12

 13 FA473131573 Credit unions -0.7 -0.9 0.5 -0.4 -0.7 -3.1 1.9 3.3 ND 13

 14 FA543131503 Life insurance companies 18.9 -17.3 -44.9 -82.1 3.7 54.1 61.8 52.6 ND 14

 15 FA633131573 Money market funds -26.0 62.0 56.0 84.0 40.0 68.0 96.0 124.0 ND 15

 16 FA653131573 Mutual funds 164.0 -164.5 -79.6 -283.5 -92.4 -202.5 -46.7 -53.1 ND 16

 17 FA153131575 Other self-directed accounts 327.1 -89.7 -82.3 -313.9 -134.4 171.9 271.8 23.6 ND 17

(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) Includes public and private defined benefit and defined contribution pension plans, and annuities at life insurance companies. Annuities include those held in individual retirement accounts (IRAs). Social security is excluded.

(5) Asset of the household and nonprofit organizations sector (table F.101). Figures for depositories (lines 12 and 13) include Keogh accounts. Variable annuities in IRAs are included

 in the life insurance sector (line 14) and excluded from the money market fund and mutual fund sectors (lines 15 and 16).
Transactions

72 Z.1, December 7, 2023

F.230 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893170005 Net change in trade payables 737.9 463.2 754.8 773.0 60.7 264.2 -182.0 207.4 534.3 1

 2 FA163170005 Nonprofit organizations (1) 31.4 33.1 33.1 33.1 33.1 33.1 31.6 31.6 31.6 2

 3 FA103170005 Nonfinancial corporate business 429.8 248.3 533.4 522.0 -122.0 59.8 -292.9 20.2 329.0 3

 4 FA113170005 Nonfinancial noncorporate business 68.3 42.9 46.6 39.8 23.4 62.0 6.8 23.9 -10.1 4

 5 FA313170005 Federal government 57.8 47.2 71.4 86.6 18.5 12.2 -13.6 16.5 66.4 5

 6 FA213170003 State and local governments 57.5 64.9 61.8 64.9 65.9 66.8 67.1 67.3 69.2 6

 7 FA513170005 Property-casualty insurance companies 19.0 15.1 15.1 15.1 15.1 15.1 12.9 10.6 11.5 7

 8 FA543170005 Life insurance companies 66.8 16.3 16.3 16.3 16.3 16.4 16.6 25.5 43.7 8

 9 FA663170003 Brokers and dealers 3.9 -2.4 -2.0 -10.7 1.3 1.8 -3.7 14.8 -5.4 9

 10 FA263170005 Rest of the world 3.4 -2.2 -20.9 5.8 9.2 -2.8 -6.9 -2.9 -1.5 10

 11 FA893070005 Net change in trade receivables 758.0 331.5 847.2 953.4 -318.1 -156.3 -68.7 286.3 488.9 11

 12 FA163070005 Nonprofit organizations (1) 6.8 6.9 6.9 6.9 6.9 6.9 7.0 7.0 7.0 12

 13 FA103070005 Nonfinancial corporate business 498.1 181.1 682.5 751.9 -415.9 -294.2 -170.3 157.9 352.5 13

 14 FA113070003 Nonfinancial noncorporate business 80.1 50.8 43.1 69.3 44.3 46.4 20.6 33.7 11.2 14

 15 FA313070000 Federal government 10.6 1.9 9.5 -15.6 0.6 12.9 20.4 -3.7 6.2 15

 16 FA213070003 State and local governments 46.0 20.4 28.1 44.2 4.0 5.3 -32.3 7.6 33.4 16

 17 FA513070005 Property-casualty insurance companies 22.6 26.3 53.4 40.2 -3.2 14.9 56.6 24.8 16.3 17

 18 FA543070005 Life insurance companies 10.1 -3.9 -3.9 -4.0 -3.9 -3.9 3.7 12.7 35.3 18

 19 FA673070003 ABS issuers 3.0 3.8 -8.0 4.3 5.2 13.6 -8.6 6.7 3.6 19

 20 FA263070005 Rest of the world 80.7 44.3 35.5 56.2 43.8 41.8 34.2 39.6 23.5 20

 21 FA903070005 Discrepancy -20.1 131.6 -92.4 -180.4 378.8 420.5 -113.3 -78.9 45.3 21

(1) Included in the households and nonprofit organizations sector (table F.101).

F.231 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893178005 Net change in taxes payable by all -3.7 -36.8 -19.7 -118.3 -65.0 55.7 117.9 -122.5 17.1 1

 businesses

 2 FA103178005 Nonfinancial corporate business -25.5 27.6 174.4 -64.0 2.2 -2.1 77.0 -111.8 11.9 2

 3 FA113178003 Nonfinancial noncorporate business 32.3 11.5 11.8 14.1 9.2 10.8 6.8 11.1 4.5 3

 4 FA763178000 U.S.-chartered depository institutions -8.9 -73.7 -206.2 -59.2 -72.9 43.5 30.7 -12.9 -6.9 4

 5 FA513178005 Property-casualty insurance companies -0.2 0.2 4.0 -10.3 -2.0 9.2 0.6 -6.2 0.8 5

 6 FA543178075 Life insurance companies -0.5 -1.1 -3.6 -4.0 0.3 2.9 1.9 -3.2 3.5 6

 7 FA613178005 Finance companies -1.0 1.9 1.4 4.2 -0.8 2.8 -1.2 0.4 2.3 7

 8 FA663178003 Brokers and dealers 0.5 -2.9 -1.5 2.2 -0.9 -11.4 2.0 2.6 1.0 8

 9 FA733178013 Holding companies -0.3 -0.3 0.0 -1.3 0.0 0.0 0.0 -2.5 0.0 9

 10 FA893078005 Net change in business taxes receivable -101.9 -64.1 23.4 -236.2 -103.4 59.9 57.5 -147.9 -1.7 10

 11 FA313078000 Federal government -131.3 -75.5 15.5 -246.8 -116.0 45.2 55.2 -155.1 -10.1 11

 12 FA213078005 State and local governments 29.4 11.5 7.9 10.6 12.7 14.7 2.3 7.1 8.4 12

 13 FA903078005 Discrepancy 98.2 27.3 -43.1 117.9 38.3 -4.2 60.3 25.4 18.9 13
Transactions

Z.1, December 7, 2023 73

F.232 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893190005 Net change in liabilities 1088.4 513.6 1458.7 -638.6 1251.3 -16.9 1676.7 1257.4 2342.5 1

 2 FA543077073 Household sector 1.5 -1.5 7.0 -3.2 0.1 -9.8 4.1 0.1 2.8 2

 3 FA103190005 Nonfinancial corporate business 103.3 56.4 416.5 -509.1 -103.0 421.0 412.0 787.7 352.8 3

 4 FA113193003 Nonfinancial noncorporate business 451.7 49.9 75.9 50.5 19.1 54.2 86.9 108.4 53.5 4

 5 FA313190005 Federal government -408.3 -199.7 -309.7 -271.9 -25.0 -192.1 62.4 -223.6 114.2 5

 6 FA223073045 State and local governments 252.8 242.0 242.0 242.0 242.0 242.0 242.0 242.0 242.0 6

 7 FA713193005 Monetary authority 0.3 -23.2 -88.0 -224.3 252.8 -33.3 -137.5 -403.9 205.5 7

 8 FA763190005 U.S.-chartered depository institutions 74.9 22.5 210.6 -180.5 243.9 -183.8 35.3 52.1 391.8 8

 9 FA753193005 Foreign banking offices in U.S. 6.9 87.4 42.8 109.5 113.5 83.9 -195.4 62.9 46.6 9

 10 FA743193005 Banks in U.S.-affiliated areas -5.2 3.0 5.2 -0.1 5.6 1.1 -0.3 2.1 89.7 10

 11 FA473193005 Credit unions 5.0 4.5 39.4 2.7 -32.4 8.2 75.6 70.1 3.1 11

 12 FA513190005 Property-casualty insurance companies 144.3 123.4 205.5 115.6 208.9 -36.3 282.4 169.5 188.7 12

 13 FA543190005 Life insurance companies 58.7 9.8 61.6 33.9 95.1 -151.6 121.7 68.2 87.2 13

 14 FA403190005 Government-sponsored enterprises -5.5 14.0 -42.9 -19.4 102.8 15.4 -62.1 4.0 125.0 14

 15 FA613190005 Finance companies -35.8 46.3 46.8 169.3 -48.7 17.8 90.9 12.2 152.0 15

 16 FA643193075 Mortgage REITs -9.3 2.3 23.0 -8.4 49.4 -54.8 6.7 8.4 -8.5 16

 17 FA663190005 Brokers and dealers 155.2 -102.3 330.2 -430.2 -123.6 -185.7 430.4 -48.9 -165.2 17

 18 FA733190005 Holding companies 32.0 157.6 198.9 143.8 278.3 9.2 38.8 31.2 226.9 18

 19 FA503190005 Other financial business 256.0 4.1 -91.3 149.8 -33.1 -9.1 156.8 233.8 304.6 19

 20 FA263190005 Rest of the world 9.9 17.2 85.1 -8.7 5.7 -13.2 26.1 81.1 -70.1 20

 21 FA893090005 Net change in assets 1475.0 1289.0 3665.5 1694.1 978.2 -1181.8 1291.2 564.4 1893.9 21

 22 FA153090005 Household sector 55.3 94.4 69.4 101.0 118.8 88.5 127.3 96.1 93.2 22

 23 FA103090005 Nonfinancial corporate business 230.7 869.7 1949.6 1538.3 884.5 -893.7 -81.3 321.9 883.5 23

 24 FA113090005 Nonfinancial noncorporate business 445.2 162.8 79.2 174.2 218.9 178.9 96.0 86.7 46.1 24

 25 FA313091105 Federal government -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.8 25

 26 FA213093003 State and local governments 65.1 0.9 -1.5 9.0 22.0 -26.0 -26.3 -57.4 -63.8 26

 27 FA713090005 Monetary authority -15.3 -1.1 -17.5 0.1 -5.1 18.3 -6.4 10.6 8.4 27

 28 FA763090005 U.S.-chartered depository institutions 121.6 118.5 485.4 222.0 91.4 -324.6 44.2 -3.8 213.1 28

 29 FA753093005 Foreign banking offices in U.S. -0.7 61.1 31.5 56.7 62.1 94.2 -136.3 4.4 53.5 29

 30 FA743093005 Banks in U.S.-affiliated areas -9.1 5.3 8.8 -8.3 34.4 -13.8 5.1 -7.3 19.0 30

 31 FA473093005 Credit unions 5.6 -13.4 27.9 -45.3 -54.3 18.2 -37.0 -10.1 -47.6 31

 32 FA513090005 Property-casualty insurance companies -58.1 111.3 184.1 196.0 197.8 -132.6 124.4 -49.1 -39.7 32

 33 FA543090005 Life insurance companies 78.1 65.4 91.4 85.6 153.9 -69.4 61.7 145.8 109.7 33

 34 FA573090005 Private pension funds 178.6 73.6 81.7 98.4 41.6 72.7 12.7 16.1 113.6 34

 35 FA343073045 Federal government retirement funds -94.8 -163.3 -125.1 -194.4 -17.6 -316.2 68.0 -259.4 31.4 35

 36 FA223090005 State and local govt. retirement funds 325.2 346.2 285.0 476.0 219.8 404.1 266.2 359.4 433.9 36

 37 FA633093005 Money market funds -10.0 35.9 143.1 35.9 -105.8 70.6 -13.2 51.0 -137.4 37

 38 FA653093005 Mutual funds -147.8 -165.5 -433.0 -49.8 -261.0 82.0 48.5 -337.6 -37.8 38

 39 FA563093003 Exchange-traded funds -3.6 -1.8 69.2 -10.6 -43.4 -22.6 -0.0 -3.5 -26.2 39

 40 FA403093005 Government-sponsored enterprises -30.5 -37.5 -54.9 -98.3 -29.2 32.6 -12.7 -1.2 26.8 40

 41 FA673090543 ABS issuers 40.5 18.3 58.0 8.4 -3.0 9.9 8.3 10.1 15.9 41

 42 FA613090005 Finance companies -50.2 9.2 -6.5 19.6 0.2 23.4 53.3 43.5 19.8 42

 43 FA643093075 Mortgage REITs -2.5 -16.0 -7.4 -26.9 -4.7 -24.8 18.9 -5.7 3.6 43

 44 FA663090005 Brokers and dealers 261.2 -242.5 455.0 -685.1 -512.7 -227.2 523.9 49.8 -291.2 44

 45 FA733090005 Holding companies 86.0 -49.7 215.4 -191.9 -104.2 -117.9 76.8 103.9 276.3 45

 46 FA503093023 Other financial business 0.6 -0.3 1.1 -0.8 4.9 -6.4 0.7 -1.3 2.5 46

 47 FA263090005 Rest of the world 3.8 7.2 75.6 -15.6 68.8 -100.0 68.3 1.4 188.0 47

 48 FA903090005 Discrepancy -386.6 -775.4 -2206.8 -2332.7 273.1 1164.9 385.6 693.1 448.5 48
Transactions

74 Z.1, December 7, 2023

F.233 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Holding company other investment in affiliates:

 1 FA763194705 Liab.: U.S.-chartered depository institutions 24.0 -4.6 -59.6 24.0 -10.0 27.4 7.5 56.5 123.9 1

 2 FA513194703 Property-casualty insurance companies -0.2 -0.3 -1.1 -0.0 0.0 0.0 0.2 -0.2 1.1 2

 3 FA543194703 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 FA613194733 Finance companies 4.3 -2.3 -4.8 -1.9 -5.9 3.6 -4.9 -1.4 -7.5 4

 5 FA663194705 Brokers and dealers 53.3 -51.9 179.0 -186.4 -98.2 -102.2 76.4 -8.7 226.3 5

 6 FA263194735 Rest of the world 6.0 8.7 85.6 -20.1 -5.5 -25.1 4.6 65.6 -87.5 6

 7 FA733094735 Asset: Holding companies 87.4 -50.3 199.2 -184.4 -119.7 -96.3 83.9 111.9 256.3 7

 Holding company balances due to affiliates:

 8 FA733194735 Liab.: Holding companies 33.5 113.9 203.8 101.5 225.7 -75.2 60.6 28.2 205.6 8

 9 FA763094703 Asset: U.S.-chartered depository institutions -4.3 1.2 -2.0 -0.1 10.4 -3.7 -2.7 1.3 -11.3 9

 10 FA513094703 Property-casualty insurance companies 0.4 0.8 -1.6 0.8 4.2 -0.1 -0.5 -1.9 -2.6 10

 11 FA543094703 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA663094705 Brokers and dealers 39.5 106.3 133.4 117.9 143.8 30.1 2.4 33.0 37.7 12

 13 FA263094733 Rest of the world -2.1 5.6 74.0 -17.2 67.2 -101.6 61.4 -4.2 181.8 13

 NFC other investment in finance company affiliates:

 14 FA103094705 Liab.: Finance companies -15.6 -6.2 -14.4 37.7 -11.3 -36.7 78.1 -61.8 116.5 14

 15 FA103094705 Asset: Nonfinancial corporate business -15.6 -6.2 -14.4 37.7 -11.3 -36.7 78.1 -61.8 116.5 15

 Securities brokers and dealers payables:

 16 FA663170605 Liab.: Brokers and dealers 134.2 -32.8 287.3 -271.4 -71.1 -75.9 183.6 -8.2 -93.5 16

 17 FA663070675 Other financial business 56.4 -13.4 330.1 -21.7 -278.0 -83.9 108.4 -14.4 -41.7 17

 18 FA663070605 Asset: Brokers and dealers 190.6 -46.1 617.4 -293.1 -349.1 -159.8 291.9 -22.5 -135.2 18

 Paycheck Protection Program subsidies payable:

 19 FA313172003 Liab.: Federal government -332.6 -97.1 -208.5 -112.7 -52.1 -15.2 -6.7 -3.2 -2.0 19

 20 FA163072003 Asset: Nonprofit organizations -22.1 -12.2 -13.8 -7.5 -19.4 -8.0 -3.4 -0.8 0.0 20

 21 FA103072005 Nonfinancial corporate business -206.4 -43.3 -106.4 -58.3 -8.7 0.0 0.0 0.0 0.0 21

 22 FA113072003 Nonfinancial noncorporate business -102.3 -41.6 -88.3 -46.8 -24.1 -7.2 -3.3 -2.4 -2.0 22

 23 FA613072003 Finance companies -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23
Transactions

Z.1, December 7, 2023 75

F.234 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Nonofficial foreign currencies:

 1 FA263191103 Liab.: Rest of the world -14.5 -2.9 -11.9 -0.1 -0.2 0.4 0.7 -1.5 -0.8 1

 2 FA313091105 Asset: Federal government -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.8 2

 3 FA713091103 Monetary authority (1) -14.5 -2.9 -11.9 -0.1 -0.2 0.4 0.7 -1.5 0.0 3

 Postal Savings System deposits:

 4 FA313131003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA313131003 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 FA403197033 Liab.: Government-sponsored enterprises -1.0 -3.9 -0.8 -3.2 -5.2 -6.5 19.1 -7.3 -0.2 6

 7 FA403197033 Asset: U.S.-chartered depository institutions -1.0 -3.9 -0.8 -3.2 -5.2 -6.5 19.1 -7.3 -0.2 7

 Funding agreements backing securities:

 8 FA673090543 Liab.: Life insurance companies (2) 40.5 18.3 58.0 8.4 -3.0 9.9 8.3 10.1 15.9 8

 9 FA673090543 Asset: ABS issuers 40.5 18.3 58.0 8.4 -3.0 9.9 8.3 10.1 15.9 9

 Deferred and unpaid life insurance premiums:

 10 FA543077073 Liab.: Household sector 1.5 -1.5 7.0 -3.2 0.1 -9.8 4.1 0.1 2.8 10

 11 FA543077073 Asset: Life insurance companies 1.5 -1.5 7.0 -3.2 0.1 -9.8 4.1 0.1 2.8 11

 Other reserves at life insurance companies:

 12 FA543195005 Liab.: Life insurance companies 17.0 2.7 7.6 -9.3 6.8 5.8 26.0 8.5 6.9 12

 13 FA263195105 Rest of the world 2.2 -1.4 -1.4 -1.4 -1.4 -1.4 0.9 0.7 0.5 13

 14 FA153095105 Asset: Household sector 15.1 6.1 11.0 -5.8 10.2 9.2 23.9 6.8 5.8 14

 15 FA543095105 Life insurance companies 4.1 -4.9 -4.9 -4.9 -4.9 -4.9 2.9 2.3 1.6 15

 Policy payables:

 16 FA513176005 Liab.: Property-casualty insurance companies 111.2 120.0 75.0 157.4 188.6 59.1 168.1 137.5 149.4 16

 17 FA263176005 Rest of the world 16.2 12.8 12.8 12.8 12.8 12.8 19.9 16.3 17.7 17

 18 FA153076005 Asset: Household sector 40.9 62.0 44.1 78.3 95.9 29.6 87.9 65.5 72.4 18

 19 FA103076005 Nonfinancial corporate business 36.1 33.1 14.1 48.6 60.3 9.2 46.7 39.9 43.1 19

 20 FA113076005 Nonfinancial noncorporate business 17.1 9.5 1.4 15.0 16.9 4.7 7.6 10.9 10.8 20

 21 FA513076005 Property-casualty insurance companies 27.4 26.7 26.7 26.7 26.7 26.7 39.0 31.9 34.6 21

 22 FA263076005 Rest of the world 6.0 1.5 1.5 1.5 1.5 1.5 6.9 5.6 6.1 22

 Unallocated insurance company contracts:

 23 FA593095005 Liab.: Life insurance companies 7.7 9.3 2.7 -0.7 7.1 27.8 22.0 9.4 6.4 23

 24 FA573095005 Asset: Private pension funds -6.7 -2.4 -14.2 -9.0 -1.9 15.3 10.2 2.7 -0.1 24

 25 FA223095505 State and local government retirement funds 14.4 11.7 16.9 8.4 9.0 12.5 11.8 6.7 6.6 25

 Pension fund contributions payable:

 26 FA573074005 Liab.: Nonfinancial corporate business -6.5 -1.3 -2.2 -2.3 -0.7 -0.2 -5.1 -4.7 -1.7 26

 27 FA573074005 Asset: Private pension funds -6.5 -1.3 -2.2 -2.3 -0.7 -0.2 -5.1 -4.7 -1.7 27

 Retiree health care funds:

 28 FA313195105 Liab.: Federal government (3) 21.4 38.5 28.1 36.0 32.1 57.7 19.0 24.6 15.0 28

 29 FA313195105 Asset: Household sector 21.4 38.5 28.1 36.0 32.1 57.7 19.0 24.6 15.0 29

 Claims of pension fund on sponsor:

 30 FA573073005 Liab.: Nonfinancial corporate business 149.6 55.3 66.8 84.1 34.3 36.0 37.6 33.1 70.2 30

 31 FA343073045 Federal government -94.8 -163.3 -125.1 -194.4 -17.6 -316.2 68.0 -259.4 31.4 31

 32 FA223073045 State and local governments 252.8 242.0 242.0 242.0 242.0 242.0 242.0 242.0 242.0 32

 33 FA573073005 Asset: Private pension funds 149.6 55.3 66.8 84.1 34.3 36.0 37.6 33.1 70.2 33

 34 FA343073045 Federal government retirement funds -94.8 -163.3 -125.1 -194.4 -17.6 -316.2 68.0 -259.4 31.4 34

 35 FA223073045 State and local govt. retirement funds 252.8 242.0 242.0 242.0 242.0 242.0 242.0 242.0 242.0 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See table F.133 in addition to F.223 and F.225.a.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
Transactions

76 Z.1, December 7, 2023

F.235 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893193005 Net change in liabilities 621.7 274.9 302.6 -513.8 1062.1 248.9 538.5 995.3 1345.8 1

 2 FA103193005 Nonfinancial corporate business -39.8 2.4 351.9 -590.9 -136.7 385.2 379.5 759.2 284.4 2

 3 FA113193003 Nonfinancial noncorporate business 451.7 49.9 75.9 50.5 19.1 54.2 86.9 108.4 53.5 3

 4 FA313193005 Federal government -2.3 22.3 -4.2 -0.7 12.6 81.6 -17.9 14.5 69.7 4

 5 FA713193005 Monetary authority 0.3 -23.2 -88.0 -224.3 252.8 -33.3 -137.5 -403.9 205.5 5

 6 FA763193005 U.S.-chartered depository institutions 50.8 27.1 270.1 -204.5 253.9 -211.2 27.8 -4.5 267.9 6

 7 FA753193005 Foreign banking offices in U.S. 6.9 87.4 42.8 109.5 113.5 83.9 -195.4 62.9 46.6 7

 8 FA743193005 Banks in U.S.-affiliated areas -5.2 3.0 5.2 -0.1 5.6 1.1 -0.3 2.1 89.7 8

 9 FA473193005 Credit unions 5.0 4.5 39.4 2.7 -32.4 8.2 75.6 70.1 3.1 9

 10 FA513193005 Property-casualty insurance companies 33.2 3.7 131.5 -41.8 20.3 -95.4 114.1 32.1 38.2 10

 11 FA543193005 Life insurance companies -6.4 -20.5 -6.7 35.4 84.2 -195.1 65.4 40.3 57.9 11

 12 FA403193005 Government-sponsored enterprises -4.4 17.9 -42.1 -16.2 108.0 21.9 -81.1 11.3 125.2 12

 13 FA613193005 Finance companies -24.5 54.8 66.1 133.5 -31.5 51.0 17.8 75.4 43.0 13

 14 FA643193075 Mortgage REITs -9.3 2.3 23.0 -8.4 49.4 -54.8 6.7 8.4 -8.5 14

 15 FA663193005 Brokers and dealers -32.4 -17.6 -136.2 27.6 45.7 -7.7 170.4 -32.0 -298.0 15

 16 FA733193005 Holding companies -1.5 43.6 -4.9 42.4 52.6 84.4 -21.9 2.9 21.3 16

 17 FA503193005 Other financial business 199.6 17.5 -421.4 171.5 244.9 74.9 48.4 248.2 346.3 17

 18 FA893093005 Net change in assets 1008.3 1050.3 2509.4 1818.9 788.9 -916.0 152.9 302.3 897.3 18

 19 FA103093005 Nonfinancial corporate business 416.6 886.1 2056.3 1510.2 844.2 -866.2 -206.0 343.8 723.8 19

 20 FA113093005 Nonfinancial noncorporate business 530.4 194.9 166.1 206.1 226.1 181.4 91.7 78.2 37.3 20

 21 FA213093003 State and local governments 65.1 0.9 -1.5 9.0 22.0 -26.0 -26.3 -57.4 -63.8 21

 22 FA713093005 Monetary authority -0.8 1.9 -5.6 0.2 -4.9 17.8 -7.1 12.1 8.4 22

 23 FA763093005 U.S.-chartered depository institutions 126.9 121.3 488.2 225.3 86.2 -314.4 27.9 2.2 224.7 23

 24 FA753093005 Foreign banking offices in U.S. -0.7 61.1 31.5 56.7 62.1 94.2 -136.3 4.4 53.5 24

 25 FA743093005 Banks in U.S.-affiliated areas -9.1 5.3 8.8 -8.3 34.4 -13.8 5.1 -7.3 19.0 25

 26 FA473093005 Credit unions 5.6 -13.4 27.9 -45.3 -54.3 18.2 -37.0 -10.1 -47.6 26

 27 FA513093005 Property-casualty insurance companies -85.9 83.8 159.0 168.4 166.8 -159.2 85.9 -79.1 -71.8 27

 28 FA543093005 Life insurance companies 72.5 71.7 89.2 93.7 158.7 -54.8 54.7 143.3 105.4 28

 29 FA573093005 Private pension funds 42.2 22.0 31.2 25.6 9.8 21.5 -30.1 -15.1 45.3 29

 30 FA223093005 State and local govt. retirement funds 58.0 92.5 26.1 225.6 -31.2 149.6 12.4 110.7 185.3 30

 31 FA633093005 Money market funds (net) -10.0 35.9 143.1 35.9 -105.8 70.6 -13.2 51.0 -137.4 31

 32 FA653093005 Mutual funds -147.8 -165.5 -433.0 -49.8 -261.0 82.0 48.5 -337.6 -37.8 32

 33 FA563093003 Exchange-traded funds -3.6 -1.8 69.2 -10.6 -43.4 -22.6 -0.0 -3.5 -26.2 33

 34 FA403093005 Government-sponsored enterprises -30.5 -37.5 -54.9 -98.3 -29.2 32.6 -12.7 -1.2 26.8 34

 35 FA613093005 Finance companies -48.4 9.2 -6.5 19.6 0.2 23.4 53.3 43.5 19.8 35

 36 FA643093075 Mortgage REITs -2.5 -16.0 -7.4 -26.9 -4.7 -24.8 18.9 -5.7 3.6 36

 37 FA663093005 Brokers and dealers 31.1 -302.6 -295.8 -509.9 -307.4 -97.5 229.6 39.3 -193.7 37

 38 FA733093005 Holding companies -1.4 0.6 16.2 -7.5 15.4 -21.6 -7.0 -8.0 20.0 38

 39 FA503093023 Other financial business 0.6 -0.3 1.1 -0.8 4.9 -6.4 0.7 -1.3 2.5 39

 40 FA903090005 Discrepancy -386.6 -775.4 -2206.8 -2332.7 273.1 1164.9 385.6 693.1 448.5 40
Transactions

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F.7 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA897005005 All sectors -70.3 -654.2 -2319.1 -1495.2 536.6 660.7 -1045.8 379.7 -858.6 1

 2 FA157005005 Household sector 119.5 -500.4 -987.4 34.1 -20.3 -1028.0 -1034.6 -863.5 260.2 2

 3 FA107005005 Nonfinancial corporate business 176.7 -389.3 -1439.0 -1192.0 8.2 1065.5 795.4 236.4 -915.4 3

 4 FA317005005 Federal government -214.2 78.2 152.5 -677.4 633.7 204.1 215.7 709.5 128.3 4

 5 FA217005005 State and local governments -16.7 31.0 18.0 83.1 69.2 -46.4 23.0 -33.3 -109.3 5

 6 FA797005005 Domestic financial sectors -414.5 -384.8 -709.5 -643.3 -520.9 334.4 -404.0 -182.0 -248.9 6

 7 FA717005005 Monetary authority -1.3 -21.9 2.7 7.2 -11.4 -86.2 -85.6 -85.6 -85.6 7

 8 FA767005005 U.S.-chartered depository institutions -97.0 -219.4 -235.0 -557.9 -293.2 208.5 -58.2 -167.9 -18.2 8

 9 FA757005005 Foreign banking officed in U.S. -132.2 35.1 68.5 -34.6 -135.5 241.9 -106.9 123.2 -89.6 9

 10 FA747005005 Banks in U.S.-affiliated areas -1.7 -6.8 -11.1 -8.6 -12.2 4.8 4.9 -3.5 -6.8 10

 11 FA477005005 Credit unions -16.1 -12.2 -43.9 -8.6 -12.1 16.0 47.3 2.6 -19.7 11

 12 FA517005005 Property-casualty insurance companies 92.9 -95.7 -71.3 -158.3 -193.5 40.5 149.6 145.5 102.9 12

 13 FA547005005 Life insurance companies -108.0 -123.8 -141.2 -140.8 -79.0 -134.2 21.2 -51.1 -64.4 13

 14 FA657005005 Mutual funds 15.6 14.8 19.5 18.9 12.4 8.5 8.5 8.5 8.5 14

 15 FA407005005 Government-sponsored enterprises -46.3 -94.9 -305.3 -158.4 69.8 14.3 -110.8 -8.3 53.7 15

 16 FA677005005 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA617005005 Finance companies 20.9 -36.8 -38.8 64.3 -116.9 -55.6 24.9 -46.1 19.3 17

 18 FA647005005 Mortgage REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FA667005005 Brokers and dealers -36.7 46.0 28.8 177.2 102.3 -124.5 -161.9 -63.8 -22.4 19

 20 FA737005005 Holding companies -104.5 130.7 17.8 156.3 148.4 200.4 -137.2 -35.6 -126.7 20

 21 FA267005005 Rest of the world 278.7 511.1 646.3 900.3 366.8 131.1 -641.3 512.7 26.5 21

F.8 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA907005005 All types -70.3 -654.2 -2319.1 -1495.2 536.6 660.7 -1045.8 379.7 -858.6 1

 2 FA903012005 Treasury currency -0.5 -1.0 0.0 -0.7 -2.4 -0.7 -0.7 -0.7 -2.8 2

 3 FA903091005 Foreign deposits -0.9 57.7 61.1 229.4 138.9 -198.4 191.8 -244.6 -10.6 3

 4 FA904010005 Net interbank transactions 17.5 -23.1 327.1 -469.6 99.4 -49.3 333.6 -324.3 33.1 4

 5 FA902050005 Security repurchase agreements 221.5 -117.7 -327.6 832.7 -394.2 -581.7 -1402.5 556.8 -529.7 5

 6 FA903020005 Mail floats 0.4 -0.3 -144.6 162.5 -144.6 125.7 -166.3 196.4 -167.1 6

 7 FA903023005 Federal government 1.1 -1.9 -150.5 163.0 -142.4 122.2 -165.9 196.7 -165.9 7

 8 FA903028003 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA903029200 Private domestic -0.7 1.7 5.8 -0.4 -2.2 3.5 -0.5 -0.3 -1.2 9

 10 FA903070005 Trade credit -20.1 131.6 -92.4 -180.4 378.8 420.5 -113.3 -78.9 45.3 10

 11 FA903078005 Taxes payable 98.2 27.3 -43.1 117.9 38.3 -4.2 60.3 25.4 18.9 11

 12 FA903090005 Miscellaneous -386.6 -775.4 -2206.8 -2332.7 273.1 1164.9 385.6 693.1 448.5 12

 13 FA906000105 Nonfinancial 0.1 46.5 107.3 145.8 149.2 -216.1 -334.2 -443.4 -694.2 13

 Nonfinancial components (sign reversed):

 14 FA087005005 Statistical discrepancy (NIPA) -5.5 -52.3 -112.9 -151.5 -155.0 210.2 328.2 437.3 688.0 14

 15 FA156600075 Contr. for govt. soc. insur., U.S. affiliated areas 5.3 5.8 5.6 5.7 5.8 5.9 6.0 6.1 6.2 15
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L.100 Domestic Nonfinancial Sectors (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL384090005 Total financial assets 161848.3 151093.6 160144.8 151056.3 148164.9 151093.6 154838.1 158761.4 157393.0 1

 2 FL313011005 U.S. official reserve assets 219.9 214.1 217.6 209.5 202.2 214.1 217.2 214.7 212.3 2

 3 FL383091005 Foreign deposits 214.5 242.3 235.9 212.0 216.3 242.3 237.8 259.0 266.3 3

 4 FL383020005 Checkable deposits and currency 7422.9 7875.1 7894.3 8241.2 8191.1 7875.1 7586.7 7681.4 7827.6 4

 5 FL383030005 Time and savings deposits 13114.0 12392.3 13194.5 12723.8 12417.2 12392.3 11965.0 11981.0 12080.5 5

 6 FL383034005 Money market fund shares 3802.8 4021.3 3732.1 3762.7 3840.8 4021.3 4406.3 4595.8 4788.4 6

 7 FL382051005 Security repurchase agreements 216.0 227.7 221.7 218.8 221.4 227.7 232.5 234.3 236.5 7

 8 FL384022005 Debt securities 5897.1 7270.7 5810.3 6121.2 6544.9 7270.7 8058.7 8172.9 8268.4 8

 9 FL383069105 Open market paper 337.4 289.9 311.2 331.4 293.3 289.9 291.1 284.2 316.4 9

 10 FL383061105 Treasury securities 2199.2 3360.8 2398.0 2556.1 2918.7 3360.8 3912.2 4085.1 4206.3 10

 11 FL383061705 Agency- and GSE-backed securities 902.7 1518.1 944.0 1138.4 1322.8 1518.1 1676.4 1612.2 1623.0 11

 12 FL383062005 Municipal securities 1863.9 1677.8 1709.3 1667.6 1594.7 1677.8 1745.0 1755.0 1687.4 12

 13 FL383063005 Corporate and foreign bonds 593.9 424.1 447.7 427.7 415.4 424.1 434.0 436.3 435.3 13

 14 FL384023005 Loans 3871.7 4013.9 4053.7 4063.5 4033.5 4013.9 4010.1 3969.3 3889.5 14

 15 FL383069005 Other loans and advances 1723.9 1745.3 1876.4 1861.8 1802.5 1745.3 1716.3 1678.5 1613.4 15

 16 FL383065005 Mortgages 653.6 726.8 666.3 689.2 697.4 726.8 740.8 747.5 756.2 16

 17 FL383066005 Consumer credit 1494.2 1541.8 1511.0 1512.5 1533.6 1541.8 1553.0 1543.3 1519.8 17

 18 LM103092305 U.S. direct investment abroad: intercompany debt -29.7 -59.9 -63.9 -39.9 -65.0 -59.9 -21.0 -56.7 -35.8 18

 19 LM383064105 Corporate equities 35266.4 29173.3 34311.0 28724.7 27685.5 29173.3 30960.3 32904.3 31721.4 19

 20 LM103092105 U.S. direct investment abroad: equity 7980.0 6693.8 7529.7 6373.4 5868.2 6693.8 7258.2 7479.5 7235.6 20

 21 LM383094905 Miscellaneous other equity 15766.8 16422.0 16184.0 16813.0 16818.9 16422.0 16095.5 16338.1 16380.1 21

 22 LM383064205 Mutual fund shares 13394.4 10213.3 12399.5 10513.4 9793.2 10213.3 10681.9 11176.3 10723.5 22

 23 FL153040005 Life insurance reserves 1944.9 1933.3 1935.1 1907.6 1907.7 1933.3 1966.8 1996.5 1987.1 23

 24 FL153050005 Pension entitlements 31489.0 27867.7 30415.3 28619.9 27772.0 27867.7 28504.8 29085.5 28828.0 24

 25 FL383070005 Trade receivables 6091.4 6352.5 6291.1 6488.5 6405.8 6352.5 6324.8 6349.1 6458.4 25

 26 FL383078005 Taxes payable 685.9 668.0 747.5 649.4 669.6 668.0 742.9 681.4 701.8 26

 27 FL383090005 Miscellaneous assets 14500.2 15572.0 15035.3 15453.6 15641.6 15572.0 15609.7 15699.0 15823.5 27

 28 FL384190005 Total liabilities 90476.5 93843.6 92006.2 93002.3 93781.6 93843.6 94453.3 95357.0 96993.4 28

 29 LM313111303 U.S. official reserve assets 160.8 152.9 158.8 152.5 147.0 152.9 154.5 152.8 151.0 29

 30 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 30

 31 FL313112003 Treasury currency 23.0 22.6 23.0 23.0 22.6 22.6 22.6 22.6 22.6 31

 32 FL384122005 Debt securities 36700.5 38274.4 37511.5 37511.3 37929.0 38274.4 38570.4 39393.4 40307.2 32

 33 FL103169100 Open market paper 138.2 197.6 188.7 188.1 198.8 197.6 206.2 192.7 203.1 33

 34 FL313161105 Treasury securities 25284.7 26831.6 26016.5 26050.7 26468.7 26831.6 26955.7 27748.0 28649.1 34

 35 FL313161705 Agency- and GSE-backed securities 19.8 19.8 19.4 19.7 19.4 19.8 19.7 18.0 19.6 35

 36 FL383162005 Municipal securities 4081.3 4028.8 4064.0 4068.2 4051.7 4028.8 4032.8 4048.4 4037.9 36

 37 FL103163005 Corporate and foreign bonds 7176.5 7196.6 7222.8 7184.6 7190.4 7196.6 7356.0 7386.3 7397.4 37

 38 FL384123005 Loans 29725.9 31961.1 30339.7 31055.3 31521.9 31961.1 32357.8 32290.5 32470.2 38

 39 FL383168005 Depository institution loans n.e.c. 3101.9 3601.6 3281.1 3448.6 3494.3 3601.6 3606.8 3591.0 3558.7 39

 40 FL383169005 Other loans and advances 3763.3 3880.1 3904.1 3917.3 3918.5 3880.1 4137.4 3874.0 3910.7 40

 41 FL383165005 Mortgages 18312.2 19585.3 18577.5 18995.3 19319.7 19585.3 19727.1 19884.7 20033.5 41

 42 FL153166000 Consumer credit 4548.5 4894.0 4577.0 4694.1 4789.3 4894.0 4886.5 4940.8 4967.3 42

 43 LM143192305 Foreign direct investment: intercompany debt 317.2 387.2 325.8 336.4 367.9 387.2 379.0 368.4 355.5 43

 44 FL313140003 Life insurance reserves 52.6 53.0 52.9 52.8 53.0 53.0 53.5 53.5 54.2 44

 45 FL383170005 Trade payables 6077.9 6514.3 6226.3 6430.6 6469.8 6514.3 6426.5 6483.4 6639.8 45

 46 FL143178005 Taxes payable 452.1 491.2 511.2 486.1 491.4 491.2 524.5 486.8 493.4 46

 47 FL383190005 Miscellaneous liabilities 16961.2 15981.8 16851.9 16949.1 16773.7 15981.8 15959.3 16100.5 16494.3 47

 Memo:

 48 LM103164105 Corporate equities (market value) 53257.4 41472.9 50602.7 41876.4 39946.8 41472.9 44667.0 48266.4 46205.4 48

 49 LM143192105 Foreign direct investment: equity 11402.8 9243.1 10849.5 9087.7 8607.9 9243.1 9944.0 10755.6 10448.5 49

 50 LM112090205 Equity in noncorporate business 15553.1 16207.1 15980.8 16612.6 16613.8 16207.1 15870.1 16110.4 16149.0 50

(1) Sum of domestic nonfinancial sectors shown on tables L.101 through L.107.
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L.101 Households and Nonprofit Organizations (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL154090005 Total financial assets 118025.5 107930.3 116036.6 108086.0 105990.4 107930.3 110941.1 114080.2 112423.8 1

 2 LM153091003 Foreign deposits 48.2 51.7 50.3 51.5 53.0 51.7 51.0 49.9 49.1 2

 3 FL153020005 Checkable deposits and currency 4147.5 4537.7 4385.5 4700.0 4792.9 4537.7 4559.0 4462.6 4231.9 3

 4 FL153030005 Time and savings deposits 11063.8 10270.8 11106.9 10679.1 10343.1 10270.8 9846.8 9726.8 9803.4 4

 5 FL153034005 Money market fund shares 2803.7 3079.7 2778.2 2831.1 2918.7 3079.7 3387.2 3539.1 3690.1 5

 6 LM154022005 Debt securities 3259.4 4592.9 3259.3 3421.3 3923.3 4592.9 5275.4 5381.3 5474.9 6

 7 LM153061105 Treasury securities 607.6 1633.9 835.4 850.0 1237.7 1633.9 2099.0 2259.9 2404.4 7

 8 LM153061705 Agency- and GSE-backed securities 460.8 1077.4 512.6 702.5 889.3 1077.4 1225.2 1159.3 1174.6 8

 9 LM153062005 Municipal securities 1809.7 1623.1 1657.0 1615.7 1543.2 1623.1 1687.3 1695.3 1627.9 9

 10 LM153063005 Corporate and foreign bonds 381.2 258.5 254.2 253.1 253.0 258.5 263.8 266.8 268.0 10

 11 FL154023005 Loans 1296.2 1214.6 1398.5 1347.8 1280.4 1214.6 1185.2 1184.2 1117.6 11

 12 FL153069005 Other loans and advances (2) 1187.5 1118.2 1292.6 1245.4 1181.0 1118.2 1089.2 1090.0 1024.8 12

 13 FL153065005 Mortgages 86.6 77.7 84.5 82.0 79.9 77.7 77.4 76.0 75.4 13

 14 FL163066223 Consumer credit (student loans) 22.0 18.7 21.3 20.5 19.5 18.7 18.6 18.2 17.3 14

 15 LM153064105 Corporate equities (3) 31782.0 26504.9 31044.2 26025.6 25158.5 26504.9 28142.4 29891.4 28852.3 15

 16 LM153081115 Miscellaneous other equity 15659.3 16316.9 16075.7 16706.5 16711.3 16316.9 15987.9 16230.4 16270.0 16

 17 LM153064205 Mutual fund shares 12822.0 9749.3 11864.2 10047.6 9354.0 9749.3 10195.4 10670.3 10235.9 17

 18 FL153040005 Life insurance reserves 1944.9 1933.3 1935.1 1907.6 1907.7 1933.3 1966.8 1996.5 1987.1 18

 19 FL153050005 Pension entitlements (4) 31489.0 27867.7 30415.3 28619.9 27772.0 27867.7 28504.8 29085.5 28828.0 19

 20 FL593073005 Claims of pension fund on sponsor 5188.3 4318.9 5129.6 5357.0 5207.3 4318.9 4179.6 4074.5 4402.5 20

 21 FL153050025 Funded pension entitlements 26300.8 23548.8 25285.7 23262.9 22564.7 23548.8 24325.2 25011.0 24425.5 21

 22 FL163070005 Trade receivables 286.3 293.2 288.0 289.7 291.5 293.2 295.0 296.7 298.5 22

 23 FL153090005 Miscellaneous assets 1423.3 1517.8 1435.4 1458.2 1484.1 1517.8 1544.1 1565.5 1585.0 23

 24 FL154190005 Total liabilities 18817.3 19924.3 19017.7 19375.7 19702.9 19924.3 19958.7 20127.3 20277.2 24

 25 FL163162003 Debt securities (municipal securities) 202.6 201.7 204.6 202.1 201.4 201.7 201.7 204.0 204.0 25

 26 FL154123005 Loans 18105.7 19182.0 18294.0 18647.1 18966.7 19182.0 19207.4 19365.8 19507.0 26

 27 FL153165105 One-to-four-family residential mortgages (5) 11923.5 12693.1 12062.3 12322.9 12536.6 12693.1 12748.8 12841.1 12925.8 27

 28 FL153166000 Consumer credit 4548.5 4894.0 4577.0 4694.1 4789.3 4894.0 4886.5 4940.8 4967.3 28

 29 FL153168005 Depository institution loans n.e.c. (6) 423.0 492.5 437.6 457.8 469.1 492.5 471.2 465.4 465.1 29

 30 FL153169005 Other loans and advances 820.6 692.1 822.0 772.2 766.4 692.1 684.1 695.3 719.0 30

 31 FL163165505 Commercial mortgages 390.1 410.2 395.1 400.2 405.2 410.2 416.7 423.3 429.8 31

 32 FL163170005 Trade payables 470.9 504.0 479.2 487.5 495.8 504.0 512.0 519.9 527.8 32

 33 FL543077073 Deferred and unpaid life insurance premiums 38.1 36.6 39.8 39.0 39.1 36.6 37.6 37.7 38.3 33

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary balance sheet table B.101.n shows estimates of annual year-end outstandings of nonprofit organizations.

(2) Includes cash accounts at brokers and dealers and syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(3) Directly held corporate equities, including closed-end fund, exchange-traded fund, and real estate investment trust shares.

(4) Includes public and private defined benefit and defined contribution pension plans and annuities, including those in IRAs and 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 (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 I).
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L.102 Nonfinancial Business (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL144090005 Total financial assets 35944.2 35049.2 35922.2 34656.6 34011.5 35049.2 35844.0 36495.2 36581.6 1

 2 FL103091003 Foreign deposits 166.3 190.6 185.6 160.6 163.3 190.6 186.8 209.1 217.2 2

 3 FL143020005 Checkable deposits and currency 2519.4 2522.4 2501.5 2390.4 2401.1 2522.4 2483.7 2454.9 2579.2 3

 4 FL143030005 Time and savings deposits 1665.3 1749.9 1709.8 1689.1 1719.5 1749.9 1754.9 1883.2 1910.7 4

 5 FL143034005 Money market fund shares 943.8 876.5 897.9 873.9 861.9 876.5 947.8 982.5 1020.7 5

 6 FL102051003 Security repurchase agreements 26.7 28.5 30.0 24.6 24.7 28.5 30.7 30.1 29.7 6

 7 LM144022005 Debt securities 485.5 446.0 450.3 474.3 433.9 446.0 447.1 458.6 495.8 7

 8 FL103069100 Commercial paper 256.3 204.8 229.1 248.3 209.2 204.8 205.0 197.1 228.2 8

 9 LM143061105 Treasury securities 150.9 163.6 142.6 150.6 151.5 163.6 164.3 179.4 184.7 9

 10 LM103061703 Agency- and GSE-backed securities 26.6 30.6 25.0 27.1 26.9 30.6 30.8 35.5 37.1 10

 11 LM143062005 Municipal securities 31.9 28.8 30.2 29.3 28.2 28.8 29.3 29.2 28.1 11

 12 LM123063003 Corporate bonds (held by equity REITs) 19.8 18.3 23.3 19.1 18.2 18.3 17.8 17.4 17.7 12

 13 FL144023005 Loans 200.6 240.3 210.6 231.2 234.7 240.3 249.9 255.3 259.7 13

 14 FL143065005 Mortgages 164.8 204.5 175.9 196.3 199.7 204.5 215.2 220.3 224.7 14

 15 FL143066005 Consumer credit 35.8 35.8 34.7 34.9 35.0 35.8 34.7 34.9 35.0 15

 16 LM103092305 U.S. direct investment abroad: intercompany debt -29.7 -59.9 -63.9 -39.9 -65.0 -59.9 -21.0 -56.7 -35.8 16

 17 LM103064103 Corporate equities 3144.9 2396.0 2945.7 2428.2 2268.8 2396.0 2530.0 2705.6 2572.6 17

 18 LM103092105 U.S. direct investment abroad: equity 7980.0 6693.8 7529.7 6373.4 5868.2 6693.8 7258.2 7479.5 7235.6 18

 19 FL143092405 Equity in GSEs 15.8 16.8 16.2 16.1 17.0 16.8 19.0 19.6 19.8 19

 20 LM103064203 Mutual fund shares 444.4 358.5 415.1 360.7 339.7 358.5 375.3 389.8 375.2 20

 21 FL143070005 Trade receivables 5434.1 5666.0 5623.1 5810.1 5723.4 5666.0 5640.0 5659.8 5756.1 21

 22 FL143090005 Miscellaneous assets 12947.2 13923.7 13470.6 13863.9 14020.4 13923.7 13941.6 14023.9 14145.0 22

 23 FL144190005 Total liabilities 35580.8 37834.4 36498.0 37237.9 37578.1 37834.4 38022.9 38234.7 38581.4 23

 24 FL104122005 Debt securities 7932.7 8013.0 8033.8 7998.1 8008.9 8013.0 8181.1 8200.7 8219.4 24

 25 FL103169100 Commercial paper 138.2 197.6 188.7 188.1 198.8 197.6 206.2 192.7 203.1 25

 26 FL103162000 Municipal securities 618.0 618.8 622.2 625.4 619.7 618.8 618.9 621.7 618.8 26

 27 FL103163005 Corporate bonds 7176.5 7196.6 7222.8 7184.6 7190.4 7196.6 7356.0 7386.3 7397.4 27

 28 FL144123005 Loans 11597.6 12755.8 12023.0 12385.4 12532.3 12755.8 12854.0 12900.9 12939.4 28

 29 FL143168005 Depository institution loans n.e.c. 2678.9 3109.1 2843.5 2990.8 3025.2 3109.1 3135.6 3125.6 3093.6 29

 30 FL143169005 Other loans and advances 2920.2 3164.8 3059.4 3122.4 3129.2 3164.8 3156.9 3155.0 3167.9 30

 31 FL143165005 Mortgages 5998.6 6482.0 6120.1 6272.2 6377.9 6482.0 6561.5 6620.4 6677.9 31

 32 LM143192305 Foreign direct investment: intercompany debt 317.2 387.2 325.8 336.4 367.9 387.2 379.0 368.4 355.5 32

 33 FL143170005 Trade payables 3936.1 4227.3 4036.4 4194.1 4208.4 4227.3 4112.0 4139.1 4258.6 33

 34 FL143178005 Taxes payable 452.1 491.2 511.2 486.1 491.4 491.2 524.5 486.8 493.4 34

 35 FL143190005 Miscellaneous liabilities 11345.1 11959.8 11567.8 11837.7 11969.1 11959.8 11972.3 12138.8 12315.1 35

 Memo:

 36 LM103164105 Corporate equities (market value) 53257.4 41472.9 50602.7 41876.4 39946.8 41472.9 44667.0 48266.4 46205.4 36

 37 LM143192105 Foreign direct investment: equity 11402.8 9243.1 10849.5 9087.7 8607.9 9243.1 9944.0 10755.6 10448.5 37

 38 LM112090205 Equity in noncorporate business 15553.1 16207.1 15980.8 16612.6 16613.8 16207.1 15870.1 16110.4 16149.0 38

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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L.103 Nonfinancial Corporate Business

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL104090005 Total financial assets 28235.3 27000.8 28109.9 26765.9 26056.8 27000.8 27734.5 28337.6 28403.2 1

 2 FL103091003 Foreign deposits 166.3 190.6 185.6 160.6 163.3 190.6 186.8 209.1 217.2 2

 3 FL103020005 Checkable deposits and currency 2049.8 2010.3 2001.0 1877.6 1894.0 2010.3 1969.6 1937.5 2060.6 3

 4 FL103030003 Time and savings deposits 283.7 297.1 284.6 264.4 295.6 297.1 274.9 391.7 415.4 4

 5 FL103034000 Money market fund shares 813.1 739.5 766.5 740.1 726.5 739.5 810.1 843.6 881.5 5

 6 FL102051003 Security repurchase agreements 26.7 28.5 30.0 24.6 24.7 28.5 30.7 30.1 29.7 6

 7 LM104022005 Debt securities 409.6 369.1 378.0 400.0 358.2 369.1 370.1 380.8 417.3 7

 8 FL103069100 Commercial paper 256.3 204.8 229.1 248.3 209.2 204.8 205.0 197.1 228.2 8

 9 LM103061103 Treasury securities 79.7 91.7 75.1 81.2 80.6 91.7 92.3 106.6 111.2 9

 10 LM103061703 Agency- and GSE-backed securities 26.6 30.6 25.0 27.1 26.9 30.6 30.8 35.5 37.1 10

 11 LM103062003 Municipal securities 27.3 23.8 25.4 24.4 23.3 23.8 24.2 24.2 23.1 11

 12 LM123063003 Corporate bonds (held by equity REITs) 19.8 18.3 23.3 19.1 18.2 18.3 17.8 17.4 17.7 12

 13 FL104023005 Loans 149.0 184.9 157.9 177.3 180.1 184.9 194.2 199.1 203.4 13

 14 FL103065005 Mortgages 113.2 149.1 123.2 142.3 145.1 149.1 159.5 164.2 168.4 14

 15 FL103066005 Consumer credit 35.8 35.8 34.7 34.9 35.0 35.8 34.7 34.9 35.0 15

 16 LM103092305 U.S. direct investment abroad: intercompany debt -29.7 -59.9 -63.9 -39.9 -65.0 -59.9 -21.0 -56.7 -35.8 16

 17 LM103064103 Corporate equities 3144.9 2396.0 2945.7 2428.2 2268.8 2396.0 2530.0 2705.6 2572.6 17

 18 LM103092105 U.S. direct investment abroad: equity 7980.0 6693.8 7529.7 6373.4 5868.2 6693.8 7258.2 7479.5 7235.6 18

 19 FL103092405 Equity in GSEs 1.6 1.7 1.9 1.8 1.7 1.7 2.1 1.9 1.9 19

 20 LM103064203 Mutual fund shares 444.4 358.5 415.1 360.7 339.7 358.5 375.3 389.8 375.2 20

 21 FL103070005 Trade receivables 4414.3 4595.3 4592.4 4762.1 4664.4 4595.3 4564.1 4575.5 4669.1 21

 22 FL103090005 Miscellaneous assets 8381.7 9195.4 8885.3 9235.0 9336.9 9195.4 9189.3 9249.9 9359.5 22

 23 FL103076005 Insurance receivables 450.2 483.3 453.8 465.9 481.0 483.3 495.0 504.9 515.7 23

 24 FL103094705 Investment in finance company affiliates 150.6 144.4 147.0 156.4 153.6 144.4 163.9 148.5 177.6 24

 25 FL103072005 PPP subsidies receivable 43.3 0.0 16.7 2.2 0.0 0.0 0.0 0.0 0.0 25

 26 FL103093005 Other 7737.5 8567.7 8267.8 8610.5 8702.3 8567.7 8530.4 8596.5 8666.2 26

 27 FL104190005 Total liabilities 25012.9 26729.2 25775.6 26365.8 26611.5 26729.2 26821.5 26968.4 27270.4 27

 28 FL104122005 Debt securities 7932.7 8013.0 8033.8 7998.1 8008.9 8013.0 8181.1 8200.7 8219.4 28

 29 FL103169100 Commercial paper 138.2 197.6 188.7 188.1 198.8 197.6 206.2 192.7 203.1 29

 30 FL103162000 Municipal securities (1) 618.0 618.8 622.2 625.4 619.7 618.8 618.9 621.7 618.8 30

 31 FL103163005 Corporate bonds 7176.5 7196.6 7222.8 7184.6 7190.4 7196.6 7356.0 7386.3 7397.4 31

 32 FL104123005 Loans 4708.4 5433.9 5014.1 5251.8 5319.8 5433.9 5461.8 5478.6 5487.1 32

 33 FL103168005 Depository institution loans n.e.c. 1123.0 1475.4 1270.9 1392.9 1417.1 1475.4 1492.3 1488.1 1475.0 33

 34 FL103169005 Other loans and advances (2) 2491.3 2692.8 2609.1 2665.8 2670.2 2692.8 2683.1 2693.1 2700.5 34

 35 FL103165005 Mortgages 1094.2 1265.7 1134.1 1193.2 1232.5 1265.7 1286.3 1297.4 1311.6 35

 36 LM103192305 Foreign direct investment: intercompany debt 311.9 381.7 320.5 331.1 362.4 381.7 373.7 363.2 350.5 36

 37 FL103170005 Trade payables 3194.4 3442.7 3281.9 3430.6 3436.7 3442.7 3324.7 3346.8 3465.8 37

 38 FL103178005 Taxes payable 249.8 277.5 306.0 277.4 280.3 277.5 309.0 268.6 274.1 38

 39 FL103190005 Miscellaneous liabilities 8615.7 9180.5 8819.4 9076.7 9203.3 9180.5 9171.2 9310.6 9473.6 39

 40 FL573074005 Pension fund contributions payable 70.9 69.5 70.3 69.8 69.6 69.5 68.3 67.1 66.7 40

 41 FL573073005 Claims of pension fund on sponsor 55.4 720.0 280.1 657.8 806.2 720.0 614.3 537.3 647.9 41

 42 FL103193005 Other 8489.4 8390.9 8469.0 8349.1 8327.6 8390.9 8488.6 8706.2 8758.9 42

 Memo:

 43 LM103164105 Corporate equities (market value) 53257.4 41472.9 50602.7 41876.4 39946.8 41472.9 44667.0 48266.4 46205.4 43

 44 LM103192105 Foreign direct investment: equity 11258.2 9129.8 10712.5 8974.7 8502.1 9129.8 9824.4 10627.1 10320.3 44

 45 FL104001005 Total liquid assets (3) 7338.5 6389.5 7006.5 6256.2 6070.7 6389.5 6547.5 6888.3 6969.5 45

 46 FL104150005 Total short-term liabilities (4) 7196.7 8085.9 7656.7 7954.8 8003.2 8085.9 8015.4 7989.3 8118.5 46

 47 FL104001006 Liquid assets/short-term liabilities (percent) 101.97 79.02 91.51 78.65 75.85 79.02 81.69 86.22 85.85 47

 48 FL104140006 Short-term debt/total debt (percent) (5) 29.68 32.47 31.18 32.05 32.16 32.47 32.12 31.97 31.95 48

(1) 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.

(2) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table L.216.

(3) Sum of lines 2 through 7 and lines 16 and 19.

(4) Sum of lines 28, 32, 33, 36, and 37. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(5) Short-term debt is the sum of lines 28, 32, and 33. Total debt is the sum of lines 27 and 31.
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L.104 Nonfinancial Noncorporate Business

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL114090005 Total financial assets 7709.0 8048.4 7812.3 7890.7 7954.7 8048.4 8109.6 8157.6 8178.4 1

 2 FL113020005 Checkable deposits and currency 469.5 512.1 500.5 512.8 507.1 512.1 514.1 517.4 518.6 2

 3 FL113030003 Time and savings deposits 1381.6 1452.9 1425.1 1424.7 1423.9 1452.9 1479.9 1491.5 1495.3 3

 4 FL113034003 Money market fund shares 130.7 137.0 131.3 133.8 135.4 137.0 137.7 138.9 139.2 4

 5 LM114022005 Debt securities 75.9 76.9 72.3 74.3 75.8 76.9 77.0 77.8 78.5 5

 6 LM113061003 Treasury securities 71.3 71.9 67.5 69.4 70.9 71.9 72.0 72.8 73.5 6

 7 LM113062003 Municipal securities 4.7 5.0 4.8 4.9 4.9 5.0 5.1 5.1 5.0 7

 8 FL114023005 Loans 51.6 55.4 52.8 53.9 54.6 55.4 55.7 56.2 56.3 8

 9 FL113065005 Mortgages 51.6 55.4 52.8 53.9 54.6 55.4 55.7 56.2 56.3 9

 10 FL113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FL113092405 Equity investment in GSEs (1) 14.2 15.1 14.3 14.3 15.2 15.1 17.0 17.6 17.9 11

 12 FL113070003 Trade receivables 1019.9 1070.7 1030.7 1048.0 1059.1 1070.7 1075.8 1084.3 1087.0 12

 13 FL113090005 Miscellaneous assets 4565.5 4728.3 4585.3 4628.9 4683.6 4728.3 4752.3 4774.0 4785.5 13

 14 FL113076005 Insurance receivables 152.9 162.4 153.3 157.0 161.2 162.4 164.3 167.0 169.7 14

 15 FL113072003 PPP subsidies receivable 43.5 1.9 21.4 9.7 3.7 1.9 1.1 0.5 0.0 15

 16 FL113093005 Other 4369.1 4564.0 4410.6 4462.1 4518.6 4564.0 4586.9 4606.4 4615.8 16

 17 FL114190005 Total liabilities 10567.9 11105.2 10722.4 10872.1 10966.6 11105.2 11201.4 11266.2 11311.0 17

 18 FL114123005 Loans 6889.2 7321.9 7009.0 7133.6 7212.5 7321.9 7392.2 7422.3 7452.3 18

 19 FL113168005 Depository institution loans n.e.c. 1555.8 1633.6 1572.6 1598.0 1608.1 1633.6 1643.3 1637.5 1618.6 19

 20 FL113169005 Other loans and advances 428.9 472.0 450.4 456.5 458.9 472.0 473.8 461.9 467.4 20

 21 FL113165005 Mortgages 4904.4 5216.3 4986.0 5079.1 5145.4 5216.3 5275.2 5323.0 5366.3 21

 22 LM115114305 Foreign direct investment: intercompany debt 5.3 5.5 5.4 5.3 5.5 5.5 5.4 5.2 5.0 22

 23 FL113170005 Trade payables 741.7 784.6 754.5 763.5 771.7 784.6 787.3 792.3 792.8 23

 24 FL113178003 Taxes payable 202.3 213.7 205.2 208.7 211.0 213.7 215.4 218.2 219.3 24

 25 FL113193003 Miscellaneous liabilities 2729.4 2779.4 2748.4 2761.0 2765.8 2779.4 2801.1 2828.2 2841.6 25

 Memo:

 26 LM115114103 Foreign direct investment: equity 144.6 113.3 137.0 113.0 105.8 113.3 119.5 128.5 128.2 26

 27 LM112090205 Equity in noncorporate business 15553.1 16207.1 15980.8 16612.6 16613.8 16207.1 15870.1 16110.4 16149.0 27

(1) Equity in the Farm Credit System.
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L.105 General Government (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL364090005 Total financial assets 7878.5 8114.1 8186.0 8313.7 8163.0 8114.1 8052.9 8186.0 8387.6 1

 2 FL313011005 U.S. official reserve assets 219.9 214.1 217.6 209.5 202.2 214.1 217.2 214.7 212.3 2

 3 FL363020005 Checkable deposits and currency 756.1 815.1 1007.3 1150.7 997.1 815.1 544.0 763.8 1016.4 3

 4 FL363030005 Time and savings deposits 385.0 371.6 377.9 355.5 354.6 371.6 363.3 371.0 366.4 4

 5 FL213034003 Money market fund shares 55.3 65.1 56.0 57.7 60.3 65.1 71.3 74.3 77.6 5

 6 FL212051003 Security repurchase agreements 189.2 199.3 191.7 194.2 196.8 199.3 201.8 204.3 206.8 6

 7 FL364022005 Debt securities 2152.2 2231.8 2100.7 2225.6 2187.7 2231.8 2336.1 2333.0 2297.8 7

 8 FL213069103 Open market paper 81.1 85.2 82.1 83.2 84.2 85.2 86.2 87.2 88.2 8

 9 FL213061105 Treasury securities 1440.7 1563.3 1420.0 1555.5 1529.4 1563.3 1648.9 1645.8 1617.3 9

 10 FL363061705 Agency- and GSE-backed securities 415.3 410.1 406.3 408.9 406.6 410.1 420.4 417.4 411.3 10

 11 FL213062003 Municipal securities 22.2 25.9 22.1 22.7 23.3 25.9 28.5 30.4 31.4 11

 12 FL363063005 Corporate and foreign bonds 192.9 147.4 170.2 155.4 144.1 147.4 152.3 152.2 149.6 12

 13 FL364023005 Loans 2374.9 2559.0 2444.5 2484.5 2518.4 2559.0 2574.9 2529.8 2512.1 13

 14 FL363065005 Mortgages 402.1 444.5 405.8 411.0 417.8 444.5 448.2 451.2 456.1 14

 15 FL313066220 Consumer credit 1436.4 1487.3 1455.0 1457.1 1479.1 1487.3 1499.7 1490.1 1467.4 15

 16 FL313069005 Other loans and advances 536.4 627.1 583.7 616.4 621.5 627.1 627.1 588.5 588.6 16

 17 LM363064105 Corporate equities 339.5 272.5 321.1 270.8 258.2 272.5 287.9 307.3 296.5 17

 18 FL313081115 Miscellaneous other equity 91.8 88.3 92.1 90.3 90.7 88.3 88.5 88.1 90.3 18

 19 LM213064203 Mutual fund shares 128.0 105.6 120.2 105.1 99.5 105.6 111.2 116.1 112.4 19

 20 FL363070005 Trade receivables 371.0 393.2 380.0 388.6 390.9 393.2 389.9 392.6 403.8 20

 21 FL363078005 Taxes receivable 685.9 668.0 747.5 649.4 669.6 668.0 742.9 681.4 701.8 21

 22 FL363090005 Miscellaneous assets 129.6 130.5 129.3 131.5 137.0 130.5 124.0 109.6 93.5 22

 23 FL364190005 Total liabilities 36078.3 36085.0 36490.5 36388.6 36500.6 36085.0 36471.6 36995.0 38134.8 23

 24 LM313111303 SDR allocations 160.8 152.9 158.8 152.5 147.0 152.9 154.5 152.8 151.0 24

 25 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 25

 26 FL313112003 Treasury currency 23.0 22.6 23.0 23.0 22.6 22.6 22.6 22.6 22.6 26

 27 FL364122005 Debt securities 28565.2 30059.7 29273.1 29311.0 29718.7 30059.7 30187.5 30988.8 31883.8 27

 28 FL313161105 Treasury securities 25284.7 26831.6 26016.5 26050.7 26468.7 26831.6 26955.7 27748.0 28649.1 28

 29 FL313161705 Budget agency securities 19.8 19.8 19.4 19.7 19.4 19.8 19.7 18.0 19.6 29

 30 FL213162005 Municipal securities 3260.7 3208.3 3237.2 3240.7 3230.6 3208.3 3212.1 3222.8 3215.1 30

 31 FL364123005 Loans 22.6 23.3 22.7 22.8 22.9 23.3 296.4 23.7 23.7 31

 32 FL313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 FL363169005 Other loans and advances 22.6 23.3 22.7 22.8 22.9 23.3 296.4 23.7 23.7 33

 34 FL313140003 Insurance reserves 52.6 53.0 52.9 52.8 53.0 53.0 53.5 53.5 54.2 34

 35 FL363170005 Trade payables 1670.9 1782.9 1710.7 1749.0 1765.6 1782.9 1802.5 1824.4 1853.5 35

 36 FL363190005 Miscellaneous liabilities 5578.0 3985.4 5244.2 5072.3 4765.5 3985.4 3949.4 3924.1 4140.8 36

 Memo:

 37 FL374090005 Total financial assets (consolidated) (2) 6393.0 6501.6 6721.2 6712.7 6587.3 6501.6 6352.1 6486.0 6715.1 37

 38 FL374190005 Total liabilities (consolidated) (2) 34592.9 34472.5 35025.8 34787.7 34924.9 34472.5 34770.8 35295.0 36462.4 38

(1) Sum of the federal government and state and local governments sectors.

(2) Excludes Treasury securities and municipal securities held by state and local governments (lines 9 and 11) and federal government loans to state and local governments (line 33).
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L.106 Federal Government

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL314090005 Total financial assets 3438.2 3621.4 3810.5 3867.4 3765.5 3621.4 3446.6 3559.4 3806.5 1

 2 FL313011005 U.S. official reserve assets 219.9 214.1 217.6 209.5 202.2 214.1 217.2 214.7 212.3 2

 3 FL313020005 Checkable deposits and currency 410.3 454.7 656.2 789.7 643.7 454.7 184.5 410.9 665.3 3

 4 FL313030003 Time and savings deposits 2.1 1.1 2.1 1.3 1.3 1.1 1.3 1.2 1.2 4

 5 FL314022005 Debt securities 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 5

 6 FL313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FL313063763 Corporate and foreign bonds 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 7

 8 FL314023005 Loans 2105.9 2282.4 2173.6 2211.7 2243.7 2282.4 2296.4 2249.3 2229.7 8

 9 FL313069005 Other loans and advances 536.4 627.1 583.7 616.4 621.5 627.1 627.1 588.5 588.6 9

 10 FL313065005 Mortgages 133.1 168.0 134.9 138.2 143.1 168.0 169.7 170.7 173.7 10

 11 FL313066220 Consumer credit (1) 1436.4 1487.3 1455.0 1457.1 1479.1 1487.3 1499.7 1490.1 1467.4 11

 12 LM313064105 Corporate equities (2) 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 12

 13 FL313081115 Miscellaneous other equity 91.8 88.3 92.1 90.3 90.7 88.3 88.5 88.1 90.3 13

 14 FL313070000 Trade receivables 95.5 97.3 97.5 95.1 96.3 97.3 102.0 102.9 105.7 14

 15 FL313078000 Taxes receivable 476.5 447.1 535.1 433.5 451.4 447.1 520.3 456.0 465.9 15

 16 FL313091105 Miscellaneous assets 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.4 16

 17 FL314190005 Total liabilities 28050.6 28417.7 28519.6 28295.5 28417.9 28417.7 28881.8 29384.5 30272.9 17

 18 LM313111303 SDR allocations 160.8 152.9 158.8 152.5 147.0 152.9 154.5 152.8 151.0 18

 19 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 19

 20 FL313112003 Treasury currency 23.0 22.6 23.0 23.0 22.6 22.6 22.6 22.6 22.6 20

 21 FL314122005 Debt securities 25304.5 26851.4 26035.9 26070.4 26488.1 26851.4 26975.4 27766.0 28668.7 21

 22 FL313161105 Treasury securities (3) 25284.7 26831.6 26016.5 26050.7 26468.7 26831.6 26955.7 27748.0 28649.1 22

 23 FL313161205 Marketable 22557.5 23845.0 23246.1 23253.4 23616.7 23845.0 24282.0 24772.4 25630.2 23

 24 FL313161305 Nonmarketable 2727.2 2986.6 2770.4 2797.3 2852.0 2986.6 2673.6 2975.6 3018.9 24

 25 FL313161705 Budget agency securities 19.8 19.8 19.4 19.7 19.4 19.8 19.7 18.0 19.6 25

 26 FL314123005 Loans 0.0 0.0 0.0 0.0 0.0 0.0 272.8 0.0 0.0 26

 27 FL313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FL313169003 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 272.8 0.0 0.0 28

 29 FL313140003 Insurance reserves 52.6 53.0 52.9 52.8 53.0 53.0 53.5 53.5 54.2 29

 30 FL313170005 Trade payables 508.4 555.6 532.7 554.8 555.0 555.6 558.4 563.4 575.2 30

 31 FL313190005 Miscellaneous liabilities 1996.1 777.1 1711.2 1436.8 1146.9 777.1 839.3 821.1 796.0 31

 32 FL343073045 Claims of pension fund on sponsor 1550.9 390.6 1316.4 1063.6 782.6 390.6 455.3 434.2 409.7 32

 33 FL313172003 PPP subsidies payable 100.1 3.0 48.0 19.8 6.8 3.0 1.3 0.5 0.0 33

 34 FL313190015 Other 345.1 383.6 346.8 353.3 357.6 383.6 382.8 386.4 386.3 34

(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) Includes marketable and nonmarketable Treasury securities held by the public and Treasury securities held by federal government employee retirement funds.
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L.107 State and Local Governments

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL214090005 Total financial assets 4440.3 4492.8 4375.5 4446.3 4397.5 4492.8 4606.4 4626.6 4581.1 1

 2 FL213020005 Checkable deposits and currency 345.7 360.4 351.2 361.0 353.4 360.4 359.5 352.9 351.1 2

 3 FL213030000 Time and savings deposits 382.9 370.5 375.7 354.2 353.3 370.5 362.0 369.8 365.2 3

 4 FL213034003 Money market fund shares 55.3 65.1 56.0 57.7 60.3 65.1 71.3 74.3 77.6 4

 5 FL212051003 Security repurchase agreements 189.2 199.3 191.7 194.2 196.8 199.3 201.8 204.3 206.8 5

 6 LM214022005 Debt securities 2151.8 2231.3 2100.2 2225.1 2187.2 2231.3 2335.6 2332.5 2297.3 6

 7 FL213069103 Open market paper 81.1 85.2 82.1 83.2 84.2 85.2 86.2 87.2 88.2 7

 8 LM213061105 Treasury securities 1440.7 1563.3 1420.0 1555.5 1529.4 1563.3 1648.9 1645.8 1617.3 8

 9 LM213061703 Agency- and GSE-backed securities 415.3 410.1 406.3 408.9 406.6 410.1 420.4 417.4 411.3 9

 10 LM213062003 Municipal securities 22.2 25.9 22.1 22.7 23.3 25.9 28.5 30.4 31.4 10

 11 LM213063003 Corporate and foreign bonds 192.4 146.9 169.7 155.0 143.7 146.9 151.8 151.7 149.1 11

 12 FL213065005 Loans (mortgages) 269.0 276.6 270.9 272.8 274.7 276.6 278.5 280.5 282.5 12

 13 LM213064103 Corporate equities 306.4 239.3 288.0 237.7 225.1 239.3 254.7 274.2 263.3 13

 14 LM213064203 Mutual fund shares 128.0 105.6 120.2 105.1 99.5 105.6 111.2 116.1 112.4 14

 15 FL213070003 Trade receivables 275.5 295.9 282.5 293.6 294.6 295.9 287.8 289.7 298.1 15

 16 FL213078005 Taxes receivable 209.5 220.9 212.4 215.9 218.2 220.9 222.6 225.4 236.0 16

 17 FL213093003 Miscellaneous assets 127.0 127.9 126.7 128.9 134.4 127.9 121.3 107.0 91.1 17

 18 FL214190005 Total liabilities 8027.8 7667.3 7970.9 8093.2 8082.8 7667.3 7589.9 7610.5 7861.9 18

 19 FL213162005 Debt securities (municipal securities) 3260.7 3208.3 3237.2 3240.7 3230.6 3208.3 3212.1 3222.8 3215.1 19

 20 FL213162400 Short-term (1) 32.9 25.5 27.1 23.3 24.9 25.5 24.6 23.7 26.5 20

 21 FL213162200 Long-term 3227.8 3182.9 3210.1 3217.3 3205.7 3182.9 3187.5 3199.0 3188.6 21

 22 FL213169203 Loans (U.S. government loans) 22.6 23.3 22.7 22.8 22.9 23.3 23.6 23.7 23.7 22

 23 FL213170003 Trade payables 1162.5 1227.3 1177.9 1194.2 1210.7 1227.3 1244.1 1261.0 1278.3 23

 24 FL223073045 Claims of pension fund on sponsor (2) 3582.0 3208.3 3533.1 3635.6 3618.6 3208.3 3110.1 3103.0 3344.8 24

(1) Debt with original maturity of 13 months or less.

(2) Included in miscellaneous liabilities.
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L.108 Domestic Financial Sectors (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL794090005 Total financial assets 135599.7 124999.3 132621.8 125784.7 122922.7 124999.3 129483.5 130826.1 129022.7 1

 2 FL713011005 U.S. official reserve assets 31.2 29.5 30.5 29.0 27.9 29.5 29.7 29.2 28.6 2

 3 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 FL713012003 Treasury currency 50.8 51.4 50.8 51.0 51.2 51.4 51.5 51.7 52.4 4

 5 FL793091005 Foreign deposits 19.4 11.7 23.3 9.2 13.3 11.7 14.5 16.3 26.9 5

 6 FL794010005 Net interbank assets 3747.5 2780.0 3694.6 3053.3 2965.4 2780.0 3584.3 3405.3 3336.6 6

 7 FL793020005 Checkable deposits and currency 726.5 678.6 705.7 688.3 662.7 678.6 663.6 656.1 609.1 7

 8 FL793030005 Time and savings deposits 629.9 747.1 604.2 659.5 696.4 747.1 796.9 821.1 816.4 8

 9 FL793034005 Money market fund shares 1238.2 1018.0 1187.9 1092.6 1064.5 1018.0 1086.0 1113.3 1138.4 9

 10 FL792050005 Federal funds and security repos 4662.0 5427.5 4582.1 4889.5 5108.4 5427.5 6128.6 6005.1 5586.2 10

 11 FL794022005 Debt securities 38296.9 34016.2 37008.3 35256.0 33773.2 34016.2 34415.9 34460.9 33949.3 11

 12 FL793069175 Open market paper 576.1 746.4 654.5 698.9 696.4 746.4 715.2 706.8 744.6 12

 13 FL793061105 Treasury securities 15721.9 13930.7 15345.6 14690.1 14019.1 13930.7 13672.2 13911.8 14097.6 13

 14 FL793061705 Agency- and GSE-backed securities 8886.1 7922.6 8594.0 8261.7 7868.1 7922.6 8249.7 8101.6 7714.5 14

 15 FL793062005 Municipal securities 2470.4 2096.9 2322.5 2207.7 2102.0 2096.9 2100.8 2079.3 1983.3 15

 16 FL793063005 Corporate and foreign bonds 10642.5 9319.7 10091.8 9397.7 9087.7 9319.7 9678.0 9661.4 9409.3 16

 17 FL794023005 Loans 27738.0 30209.3 28282.7 29093.1 29709.5 30209.3 30820.2 30594.2 30744.3 17

 18 FL793068005 Depository institution loans n.e.c. 4344.8 4904.6 4493.0 4699.3 4781.3 4904.6 4928.2 4916.1 4910.4 18

 19 FL793069005 Other loans and advances 2680.2 3093.9 2812.6 2906.1 3050.2 3093.9 3572.3 3143.5 3109.1 19

 20 FL793065005 Mortgages 17658.6 18858.5 17911.2 18306.1 18622.3 18858.5 18986.3 19137.2 19277.3 20

 21 FL793066005 Consumer credit 3054.3 3352.2 3066.0 3181.6 3255.7 3352.2 3333.5 3397.5 3447.5 21

 22 LM793092305 U.S. direct investment abroad: intercompany debt -6.5 -12.4 -13.8 -8.4 -13.6 -12.4 -4.4 -12.0 -3.1 22

 23 LM793064105 Corporate equities 30896.5 24717.7 29114.3 24573.5 23020.9 24717.7 25989.2 27595.2 26452.9 23

 24 LM793081115 Other equity 4357.2 4006.6 4220.7 3936.5 3840.9 4006.6 4183.0 4220.1 4196.9 24

 25 LM793064205 Mutual fund shares 7626.6 6081.1 7115.4 6145.4 5781.2 6081.1 6412.2 6596.4 6310.3 25

 26 FL793040005 Life insurance reserves 556.1 561.0 557.9 559.4 561.2 561.0 566.7 566.0 568.0 26

 27 FL543050005 Pension entitlements 380.0 484.2 406.0 432.0 458.0 484.2 496.2 501.0 525.3 27

 28 FL793070005 Trade receivables 412.1 438.3 422.4 432.6 432.1 438.3 451.2 462.2 476.0 28

 29 FL793090005 Miscellaneous assets 14232.2 13748.2 14623.6 14887.1 14764.3 13748.2 13792.9 13738.6 14203.0 29

 30 FL794190005 Total liabilities 119897.0 112981.3 118398.7 113524.5 111869.4 112981.3 116364.0 117368.0 116355.0 30

 31 FL794110005 Net interbank liabilities 3955.5 3148.0 3981.1 3309.9 3319.1 3148.0 4104.5 3859.2 3773.2 31

 32 FL793120005 Checkable deposits and currency 9360.3 9776.2 9841.1 10151.0 10078.6 9776.2 9484.7 9583.1 9671.3 32

 33 FL703130005 Time and savings deposits 14437.6 13820.3 14544.4 14097.1 13831.3 13820.3 13433.5 13476.5 13558.6 33

 34 FL634090005 Money market fund shares 5205.5 5223.1 5090.7 5032.4 5084.2 5223.1 5692.6 5917.4 6143.0 34

 35 FL792150005 Federal funds and security repos 4682.2 5402.5 4578.3 5023.5 5225.5 5402.5 5817.2 5499.6 5009.1 35

 36 FL794122005 Debt securities 15605.6 16879.5 15987.0 16291.4 16458.6 16879.5 17242.0 17209.6 17169.3 36

 37 FL793169175 Open market paper 491.8 698.3 607.2 651.9 652.8 698.3 685.8 710.0 747.3 37

 38 FL423161705 Agency- and GSE-backed securities 10679.4 11658.8 10907.4 11175.7 11423.1 11658.8 12021.6 11954.4 11882.8 38

 39 FL793163005 Corporate and foreign bonds 4434.4 4522.5 4472.3 4463.8 4382.7 4522.5 4534.6 4545.2 4539.2 39

 40 FL794123005 Loans 2118.7 2466.7 2250.8 2312.8 2378.2 2466.7 2642.7 2435.4 2305.3 40

 41 FL793168005 Depository institution loans n.e.c. 494.8 440.6 442.5 436.6 435.4 440.6 424.5 418.3 424.8 41

 42 FL793169005 Other loans and advances 1623.9 2026.1 1808.2 1876.2 1942.8 2026.1 2218.2 2017.1 1880.5 42

 43 LM793192305 Foreign direct investment: intercompany debt 167.4 126.0 161.2 147.5 139.3 126.0 125.2 125.6 131.7 43

 44 LM653164205 Mutual fund shares 22208.8 17333.4 20698.1 17759.6 16617.1 17333.4 18166.2 18850.5 18106.6 44

 45 FL543140005 Life insurance reserves 2344.0 2345.1 2337.7 2313.9 2317.6 2345.1 2382.6 2411.0 2402.4 45

 46 FL583150005 Pension entitlements 31699.5 28096.7 30630.4 28839.5 27996.2 28096.7 28739.4 29322.4 29077.9 46

 47 FL793170005 Trade payables 487.0 515.9 494.3 499.4 507.5 515.9 522.4 535.1 547.5 47

 48 FL793178005 Taxes payable 145.8 69.9 88.5 71.8 56.5 69.9 72.1 67.5 70.9 48

 49 FL793190005 Miscellaneous liabilities 7479.0 7778.2 7715.1 7674.7 7859.6 7778.2 7938.9 8075.2 8388.2 49

 Memo:

 50 LM793164105 Corporate equities (market value) (2) 14742.5 12943.6 14350.6 12332.1 11878.5 12943.6 12986.1 13595.7 13354.6 50

 51 LM793181115 Other equity 4513.8 3999.6 4330.2 3996.1 3916.7 3999.6 4135.2 4231.5 4180.5 51

(1) Sum of financial sectors shown on tables L.109 through L.132.

(1) Corporate equities outstanding detail is not available for financial subsectors and not shown on tables L.109 through L.132.
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L.109 Monetary Authority (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL714090005 Total financial assets 8910.6 7502.7 8630.8 8199.1 7662.1 7502.7 7747.1 7319.9 6730.6 1

 2 FL713011005 U.S. official reserve assets 31.2 29.5 30.5 29.0 27.9 29.5 29.7 29.2 28.6 2

 3 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 FL713012003 Treasury currency 50.8 51.4 50.8 51.0 51.2 51.4 51.5 51.7 52.4 4

 5 FL713022003 Federal Reserve float -0.6 -0.5 -0.7 -0.8 -0.4 -0.5 -0.4 -0.3 -0.4 5

 6 FL713068705 Interbank loans 13.3 9.1 8.8 9.6 11.7 9.1 317.7 275.8 195.6 6

 7 FL713068703 Discount window (2) 0.6 5.3 0.6 2.4 7.2 5.3 70.3 4.3 4.2 7

 8 FL763069143 AMLF and MMLF loans (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FL713068725 PPPLF loans (4) 12.7 3.8 8.2 7.1 4.5 3.8 2.7 2.8 1.8 9

 10 FL713068763 Bank Term Funding Program loans 0.0 0.0 0.0 0.0 0.0 0.0 64.6 101.9 107.8 10

 11 FL713068753 Other credit extensions 0.0 0.0 0.0 0.0 0.0 0.0 180.1 166.8 81.9 11

 12 FL712051000 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 45.0 1.0 0.0 12

 13 LM714022005 Debt securities (5) 8733.2 7349.1 8470.4 8043.4 7507.3 7349.1 7243.2 6902.1 6393.6 13

 14 FL713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 LM713061103 Treasury securities 6052.1 5056.4 5851.4 5563.8 5186.5 5056.4 4960.2 4702.9 4367.4 15

 16 LM713061113 Treasury bills 325.9 286.4 325.4 324.5 307.4 286.4 277.9 266.1 236.0 16

 17 LM713061125 Other Treasury securities 5726.1 4770.0 5526.0 5239.3 4879.1 4770.0 4682.3 4436.8 4131.4 17

 18 LM713061705 Agency- and GSE-backed securities 2681.1 2292.7 2618.9 2479.6 2320.8 2292.7 2282.9 2199.2 2026.1 18

 19 LM713061903 Mortgage-backed securities 2677.8 2289.9 2615.9 2476.7 2318.0 2289.9 2280.2 2196.5 2023.5 19

 20 LM713061703 Other agency- and GSE-backed securities 3.3 2.7 3.1 2.9 2.7 2.7 2.8 2.7 2.6 20

 21 FL713068005 Loans (depository institution loans n.e.c.) 42.2 22.9 34.1 28.4 26.1 22.9 20.9 17.7 15.3 21

 22 FL713068813 Households (TALF I) (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL713068665 Brokers and dealers (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL713068863 Finance companies (PPPLF) (4) 21.1 7.7 15.3 10.8 9.4 7.7 6.5 4.4 3.2 24

 25 FL713068505 Other financial business (8) 21.0 15.3 18.8 17.7 16.6 15.3 14.4 13.3 12.0 25

 26 FL713064103 Corporate equities (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FL713090005 Miscellaneous assets 35.4 36.1 31.7 33.2 33.1 36.1 34.3 37.5 40.2 27

 28 FL713091103 Nonofficial foreign currencies (10) 3.3 0.4 0.4 0.3 0.3 0.4 0.6 0.2 0.2 28

 29 FL713093005 Other 32.0 35.7 31.4 32.9 32.8 35.7 33.7 37.2 40.0 29

 30 FL714190005 Total liabilities 8747.1 8546.3 8925.9 8882.6 8750.8 8546.3 8620.7 8296.1 7994.8 30

 31 FL713113003 Depository institution reserves 3644.3 2684.8 3597.4 2955.4 2874.8 2684.8 3183.7 3046.9 3066.6 31

 32 FL703025005 Vault cash of depository institutions 90.5 86.7 89.1 89.1 79.3 86.7 83.2 82.9 74.7 32

 33 FL713120005 Checkable deposits and currency 2817.5 2896.6 3109.0 3229.1 3069.7 2896.6 2646.0 2866.1 3085.2 33

 34 FL713123005 Due to federal government 406.2 446.8 651.6 782.5 636.1 446.8 177.9 402.6 657.2 34

 35 FL713123023 Treasury cash holdings 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 35

 36 FL713123030 Treasury general deposit account 406.1 446.7 651.5 782.4 636.0 446.7 177.7 402.4 656.9 36

 37 FL713123043 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 FL713124005 Due to government-sponsored enterprises 33.9 22.0 29.8 25.9 20.3 22.0 26.8 22.5 24.8 38

 39 FL713129005 Due to other financial business (11) 221.9 196.5 241.4 220.7 205.8 196.5 192.2 169.4 145.1 39

 40 FL713122605 Due to rest of the world 9.4 9.0 7.5 7.5 7.5 9.0 9.7 9.7 9.7 40

 41 FL713125005 Currency outside banks 2146.2 2222.3 2178.8 2192.6 2200.0 2222.3 2239.4 2261.9 2248.4 41

 42 FL712151003 Security repurchase agreements 2183.0 2889.6 2121.0 2601.2 2720.4 2889.6 2742.7 2368.9 1863.4 42

 43 FL712151103 Reverse repurchase agreement operations (12) 1904.6 2553.7 1872.0 2329.7 2425.9 2553.7 2375.2 2034.3 1557.6 43

 44 FL712151115 Other (13) 278.5 335.8 249.0 271.5 294.5 335.8 367.5 334.6 305.9 44

 45 FL713193005 Miscellaneous liabilities 11.8 -11.4 9.4 7.7 6.7 -11.4 -34.9 -68.7 -95.1 45

 Memo:

 46 FL313094213 Treasury contributions to MMLF 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 FL713164003 Federal Reserve Bank stock 33.9 35.0 34.3 34.9 35.1 35.0 35.4 35.6 35.9 47

 48 FL714022065 Amortized cost of debt securities 8605.3 8429.4 8800.9 8763.4 8632.6 8429.4 8153.9 7915.7 7695.5 48

 49 FL713061163 Treasury securities 5917.4 5729.2 6017.5 5990.6 5873.7 5729.2 5502.2 5322.2 5162.1 49

 50 FL713061765 Agency- and GSE-backed securities 2687.9 2700.2 2783.4 2772.8 2758.9 2700.2 2651.7 2593.5 2533.3 50

(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) Loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(3) Loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) and the

 Money Market Mutual Fund Liquidity Facility (MMLF). The AMLF was dissolved in 2010:Q1.

(4) Loans extended to depository institutions (line 9) and finance companies (line 24) through the Paycheck Protection Program Liquidity Facility (PPPLF).

(5) Shown at estimated fair value.

(6) Loans extended to financial institutions such as domestic hedge funds through the 2008 Term Asset-Backed Securities Loan Facility (TALF I).

(7) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF), AMLF (2008-2010), and MMLF (2020).

(8) Loans extended to Federal Reserve funding, credit, and liquidity, facility special purpose vehicles created in response to the 2008 Financial Crisis and COVID-19 pandemic.

(9) 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. Series is zero after 2010:Q4.

(10) Reciprocal currency arrangements (swap lines) with foreign central banks.

(11) Deposits of designated financial market utilities (DFMU) and deposits of Federal Reserve facility LLC’s special purpose vehicles.

(12) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(13) Includes reverse repurchase agreements conducted through the Federal Reserve’s Foreign Repo Pool.
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L.110 Private Depository Institutions (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL704090005 Total financial assets 25639.1 25614.8 25789.0 25541.4 25542.8 25614.8 26123.3 25869.6 25738.1 1

 2 FL703025005 Vault cash 90.5 86.7 89.1 89.1 79.3 86.7 83.2 82.9 74.7 2

 3 FL713113003 Reserves at Federal Reserve 3644.3 2684.8 3597.4 2955.4 2874.8 2684.8 3183.7 3046.9 3066.6 3

 4 FL702050005 Federal funds and security repos 593.6 596.2 580.8 570.6 610.0 596.2 661.3 625.3 605.6 4

 5 LM704022005 Debt securities 7056.4 6354.6 6986.5 6777.9 6414.4 6354.6 6287.1 6117.4 5857.0 5

 6 FL703069175 Open market paper 0.3 0.1 0.5 0.4 0.1 0.1 0.0 0.0 0.0 6

 7 LM703061105 Treasury securities 1641.4 1580.3 1654.3 1687.1 1606.2 1580.3 1492.9 1434.3 1433.3 7

 8 LM703061705 Agency- and GSE-backed securities 3883.1 3214.0 3746.6 3536.6 3272.3 3214.0 3244.2 3156.6 2963.6 8

 9 LM703062005 Municipal securities 643.7 590.8 621.6 611.4 590.9 590.8 577.9 559.0 530.7 9

 10 LM703063005 Corporate and foreign bonds 888.0 969.4 963.5 942.4 945.0 969.4 972.0 967.5 929.3 10

 11 FL704023005 Loans 12631.2 14052.3 12798.1 13346.7 13694.0 14052.3 14138.0 14238.7 14334.5 11

 12 FL703068005 Depository institution loans n.e.c. 4302.7 4881.6 4458.9 4670.9 4755.2 4881.6 4907.3 4898.4 4895.1 12

 13 FL703069005 Other loans and advances 18.1 14.9 14.0 14.0 13.5 14.9 18.1 18.4 19.4 13

 14 FL703065005 Mortgages 5952.5 6489.2 5948.4 6163.8 6351.5 6489.2 6568.2 6633.9 6694.8 14

 15 FL703066005 Consumer credit 2357.8 2666.6 2376.9 2498.0 2573.8 2666.6 2644.5 2688.0 2725.2 15

 16 LM763092305 U.S. direct investment abroad: intercompany debt -1.5 -3.0 -3.2 -1.9 -3.3 -3.0 -1.0 -2.8 -1.5 16

 17 LM703064105 Corporate equities 54.1 45.8 53.1 44.2 40.9 45.8 46.0 48.8 48.5 17

 18 LM763092100 U.S. direct investment abroad: equity 394.7 333.5 373.0 310.7 294.6 333.5 354.7 365.7 356.8 18

 19 FL703094905 Miscellaneous other equity 49.3 70.6 50.3 57.8 63.6 70.6 80.7 74.5 72.2 19

 20 LM703064205 Mutual fund shares 22.0 14.3 20.5 16.7 16.8 14.3 14.2 15.1 14.0 20

 21 FL763040005 Life insurance reserves 198.2 204.7 200.3 202.2 204.4 204.7 206.0 202.3 202.1 21

 22 FL703090005 Miscellaneous assets 906.4 1174.3 1042.9 1172.2 1253.4 1174.3 1069.4 1054.7 1107.5 22

 23 FL704190005 Total liabilities 23189.8 23746.8 23656.2 23519.4 23676.6 23746.8 24062.0 23825.0 23809.5 23

 24 FL704110005 Net interbank liabilities 220.8 376.5 294.6 265.4 365.1 376.5 837.5 729.4 631.9 24

 25 FL703127005 Checkable deposits 6542.7 6879.6 6732.1 6921.9 7008.9 6879.6 6838.7 6717.0 6586.1 25

 26 FL703130005 Time and savings deposits 14437.6 13820.3 14544.4 14097.1 13831.3 13820.3 13433.5 13476.5 13558.6 26

 27 FL702150005 Federal funds and security repos 688.5 649.6 700.5 659.8 652.6 649.6 799.7 823.1 807.3 27

 28 FL704122005 Debt securities 365.5 577.6 425.7 487.0 494.4 577.6 536.8 578.3 614.7 28

 29 FL703169175 Open market paper 173.8 308.0 215.6 256.4 260.8 308.0 290.6 317.1 340.7 29

 30 FL763163005 Corporate bonds 191.7 269.6 210.0 230.6 233.6 269.6 246.2 261.1 274.0 30

 31 FL703169005 Loans (other loans and advances) 217.3 682.4 244.5 385.0 523.1 682.4 898.0 714.8 662.7 31

 32 LM753192305 Foreign direct investment: intercompany debt 17.1 16.9 16.6 16.2 16.7 16.9 16.6 16.5 16.8 32

 33 FL763178000 Taxes payable (net) 104.1 30.4 46.7 32.3 17.9 30.4 31.8 29.4 30.9 33

 34 FL703190005 Miscellaneous liabilities 596.1 713.5 651.0 654.8 766.7 713.5 669.5 740.1 900.5 34

 35 FL763194705 Other investment by holding company parent 142.9 138.3 128.0 134.0 131.5 138.3 140.2 154.3 185.3 35

 36 FL703193005 Other 453.2 575.2 523.0 520.8 635.2 575.2 529.2 585.8 715.2 36

 Memo:

 37 LM753192103 Foreign direct investment: equity 463.4 344.7 425.7 346.1 321.1 344.7 369.7 408.3 397.8 37

 38 FL763194603 Equity investment by holding company parent 2243.5 2103.9 2178.2 2114.5 2063.4 2103.9 2165.6 2174.7 2168.2 38

 39 FL753194503 Investment by other financial business 108.5 109.4 132.2 105.6 116.6 109.4 117.1 114.2 137.5 39

 40 FL763066303 Consumer leases not included above (2) 13.6 10.9 13.2 12.4 11.6 10.9 10.3 10.1 9.9 40

 41 FL703139105 Uninsured deposits (3) 9560.3 8993.0 9636.1 9419.4 9204.1 8993.0 8325.2 8195.1 8165.5 41

(1) U.S.-chartered depository institutions (L.111), foreign banking offices (L.112), banks in U.S.-affiliated areas (L.113), and credit unions (L.114).

(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.

(3) Includes checkable deposits (line 25) and time and savings deposits (line 26) not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
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L.111 U.S.-Chartered Depository Institutions

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL764090005 Total financial assets 21124.7 20658.7 20998.0 20719.2 20579.2 20658.7 20936.2 20716.5 20566.8 1

 2 FL763025000 Vault cash 90.4 86.7 89.1 89.1 79.2 86.7 83.2 82.9 74.6 2

 3 FL763013005 Reserves at Federal Reserve 2578.4 1626.4 2349.8 1827.6 1723.2 1626.4 1926.8 1845.8 1884.9 3

 4 FL762050005 Federal funds and security repos 317.4 330.8 298.5 280.9 307.9 330.8 324.6 275.5 271.8 4

 5 LM764022005 Debt securities 6319.8 5620.5 6243.1 6017.2 5660.0 5620.5 5575.3 5406.8 5153.0 5

 6 FL763069175 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM763061100 Treasury securities 1472.3 1388.9 1471.3 1488.5 1407.7 1388.9 1301.0 1235.2 1240.9 7

 8 LM763061705 Agency- and GSE-backed securities 3505.5 2873.0 3374.7 3167.3 2919.1 2873.0 2911.1 2831.3 2655.9 8

 9 LM763061805 Residential mortgage pass-through securities 2265.2 1877.3 2182.4 2036.2 1891.0 1877.3 1949.2 1903.6 1773.6 9

 10 LM763061503 Commercial mortgage pass-through securities 222.7 182.2 209.0 211.6 179.1 182.2 184.1 179.3 172.0 10

 11 LM763061603 Residential CMOs and other structured MBS 575.6 482.6 547.3 521.7 495.7 482.6 465.8 447.0 417.9 11

 12 LM763061403 Commercial CMOs and other structured MBS 274.6 160.6 266.2 226.0 183.9 160.6 146.8 141.8 136.9 12

 13 LM763061795 Other 167.4 170.3 169.7 171.8 169.4 170.3 165.2 159.6 155.4 13

 14 LM763062000 Municipal securities 631.3 580.0 609.6 599.7 579.9 580.0 566.8 548.3 519.4 14

 15 LM763063005 Corporate and foreign bonds 710.6 778.7 787.6 761.7 753.2 778.7 796.4 792.1 736.7 15

 16 LM763063673 Priv. residential mortgage pass-through securities 5.3 4.7 4.5 4.2 4.0 4.7 4.1 3.6 3.3 16

 17 LM763063653 Priv. commercial mortgage pass-through securities 3.3 3.3 3.5 3.4 3.3 3.3 3.2 3.1 2.9 17

 18 LM763063663 Priv. residential CMOs and other structured MBS 55.4 58.8 61.3 61.9 59.6 58.8 58.6 57.2 54.9 18

 19 LM763063693 Priv. commercial CMOs and other structured MBS 54.8 54.4 57.3 57.6 57.4 54.4 53.9 53.3 51.6 19

 20 LM763063095 Other 591.8 657.6 661.0 634.5 629.0 657.6 676.5 674.8 624.1 20

 21 FL764023005 Loans 10437.9 11438.5 10535.3 10957.7 11205.5 11438.5 11502.9 11591.5 11637.0 21

 22 FL763068005 Depository institution loans n.e.c. 3421.5 3703.6 3453.3 3609.7 3658.6 3703.6 3726.0 3730.1 3701.5 22

 23 FL763069005 Other loans and advances 18.1 14.9 14.0 14.0 13.5 14.9 18.1 18.4 19.4 23

 24 FL763065005 Mortgages 5172.5 5690.2 5238.4 5420.4 5575.9 5690.2 5759.3 5809.0 5854.8 24

 25 FL763066000 Consumer credit 1825.8 2029.8 1829.7 1913.6 1957.5 2029.8 1999.5 2034.0 2061.4 25

 26 LM763092305 U.S. direct investment abroad: intercompany debt -1.5 -3.0 -3.2 -1.9 -3.3 -3.0 -1.0 -2.8 -1.5 26

 27 LM763064103 Corporate equities 54.1 45.8 53.1 44.2 40.9 45.8 46.0 48.8 48.5 27

 28 LM763092100 U.S. direct investment abroad: equity 394.7 333.5 373.0 310.7 294.6 333.5 354.7 365.7 356.8 28

 29 FL763094905 Miscellaneous other equity 45.0 64.4 46.0 52.7 57.9 64.4 74.6 68.5 65.8 29

 30 LM763064203 Mutual fund shares 14.9 10.1 13.1 11.0 12.4 10.1 10.2 11.1 9.8 30

 31 FL763040005 Life insurance reserves 198.2 204.7 200.3 202.2 204.4 204.7 206.0 202.3 202.1 31

 32 FL763090005 Miscellaneous assets 675.4 900.3 799.8 927.9 996.3 900.3 833.0 820.4 863.9 32

 33 FL764190005 Total liabilities 19075.1 19099.0 19262.7 19048.3 19086.1 19099.0 19252.1 19009.8 19017.5 33

 34 FL764110005 Net interbank liabilities -36.1 -121.3 -57.1 -101.2 -84.4 -121.3 184.9 170.9 143.5 34

 35 FL713022003 Federal Reserve float -0.6 -0.5 -0.7 -0.8 -0.4 -0.5 -0.4 -0.3 -0.4 35

 36 FL713068715 Borrowing from Federal Reserve banks 13.2 9.1 8.8 9.6 11.7 9.1 317.7 275.8 195.6 36

 37 FL764112005 To domestic banks 6.2 -6.5 19.3 -6.4 -3.1 -6.5 6.5 9.3 6.0 37

 38 FL764116005 To foreign banks -54.9 -123.4 -84.5 -103.6 -92.7 -123.4 -138.9 -113.9 -57.8 38

 39 FL763127005 Checkable deposits 5822.4 6163.1 5971.6 6145.6 6242.0 6163.1 6100.6 5980.5 5839.5 39

 40 FL763123005 Federal government 2.6 2.6 2.8 2.9 3.2 2.6 6.7 6.7 7.2 40

 41 FL763128000 State and local government 345.7 360.4 351.2 361.0 353.4 360.4 359.5 352.9 351.1 41

 42 FL763129205 Private domestic 5391.7 5717.2 5525.5 5709.2 5796.2 5717.2 5646.6 5538.8 5399.7 42

 43 FL763122605 Rest of the world 82.5 83.0 92.1 72.5 89.1 83.0 87.9 82.1 81.5 43

 44 FL763130005 Time and savings deposits 12092.3 11324.8 12110.5 11629.7 11349.6 11324.8 10950.3 10986.1 11080.7 44

 45 FL762150005 Federal funds and security repos 161.0 185.3 156.1 168.6 176.8 185.3 289.5 264.2 254.1 45

 46 FL764122005 Debt securities 311.8 465.6 348.4 390.8 396.7 465.6 424.0 454.4 481.8 46

 47 FL763169175 Open market paper 120.1 196.0 138.3 160.2 163.2 196.0 177.7 193.3 207.8 47

 48 FL763163005 Corporate bonds 191.7 269.6 210.0 230.6 233.6 269.6 246.2 261.1 274.0 48

 49 FL763169305 Loans (other loans and advances) 176.6 585.7 202.1 325.1 445.6 585.7 810.3 629.8 573.3 49

 50 FL763178000 Taxes payable (net) 104.1 30.4 46.7 32.3 17.9 30.4 31.8 29.4 30.9 50

 51 FL763190005 Miscellaneous liabilities 442.9 465.4 484.5 457.4 541.9 465.4 460.6 494.5 613.7 51

 52 FL763194705 Other investment by holding company parents 142.9 138.3 128.0 134.0 131.5 138.3 140.2 154.3 185.3 52

 53 FL763193005 Other 300.0 327.1 356.4 323.4 410.4 327.1 320.4 340.1 428.4 53

 Memo:

 54 FL763194603 Equity investment by holding company parents 2243.5 2103.9 2178.2 2114.5 2063.4 2103.9 2165.6 2174.7 2168.2 54

 55 FL763066303 Consumer leases not included above (1) 13.6 10.9 13.2 12.4 11.6 10.9 10.3 10.1 9.9 55

 56 FL763139105 Uninsured deposits (2) 8209.9 7549.1 8213.2 7946.2 7734.7 7549.1 6916.7 6770.9 6737.0 56

(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.

(2) Includes checkable deposits (line 39) and time and savings deposits (line 44) not insured by the Federal Deposit Insurance Corporation.
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L.112 Foreign Banking Offices in U.S. (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL754090005 Total financial assets 2339.0 2703.8 2579.1 2602.7 2720.4 2703.8 2886.6 2844.1 2829.5 1

 2 FL753025003 Vault cash 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FL753013003 Reserves at Federal Reserve 830.2 959.0 1034.0 978.8 1032.1 959.0 1123.5 1077.7 1063.1 3

 4 FL752050005 Federal funds and security repos 275.9 265.3 282.2 289.4 301.9 265.3 336.6 349.7 333.8 4

 5 LM754022005 Debt securities 286.1 297.8 280.8 295.5 304.4 297.8 280.4 290.5 276.2 5

 6 FL753069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM753061103 Treasury securities 86.9 89.5 89.4 96.0 92.5 89.5 92.3 98.8 90.0 7

 8 LM753061703 Agency- and GSE-backed securities 53.5 48.1 49.3 52.6 52.1 48.1 42.3 45.3 42.7 8

 9 LM753062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 LM753063005 Corporate and foreign bonds 145.6 160.1 142.1 146.9 159.8 160.1 145.8 146.3 143.5 10

 11 FL754023005 Loans 869.9 1043.6 897.3 940.0 967.5 1043.6 1042.1 1021.0 1038.0 11

 12 FL753068005 Depository institution loans n.e.c. 778.8 937.1 802.4 840.3 864.4 937.1 935.6 912.5 931.9 12

 13 FL753069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL753065005 Mortgages 91.1 106.6 94.9 99.7 103.1 106.6 106.5 108.5 106.1 14

 15 FL753064103 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL753093005 Miscellaneous assets 76.9 138.1 84.8 99.0 114.5 138.1 104.0 105.1 118.4 16

 17 FL754190005 Total liabilities 2133.7 2570.2 2367.5 2431.0 2518.8 2570.2 2685.6 2682.7 2629.4 17

 18 FL754110005 Net interbank liabilities 289.0 551.6 401.2 425.8 503.8 551.6 699.7 604.0 534.1 18

 19 FL754116005 To foreign banks 278.3 539.8 383.4 402.3 479.1 539.8 685.7 592.5 523.0 19

 20 FL754112005 To domestic banks 10.7 11.8 17.8 23.6 24.7 11.8 14.1 11.4 11.1 20

 21 FL753127005 Checkable deposits 282.0 269.5 307.5 326.9 310.4 269.5 280.1 287.6 302.9 21

 22 FL753130005 Time and savings deposits 862.2 966.4 907.5 934.5 945.9 966.4 925.6 935.4 921.3 22

 23 FL752150005 Federal funds and security repos 527.5 464.2 544.5 491.2 475.8 464.2 510.1 558.9 553.2 23

 24 FL753169175 Debt securities (open market paper) 53.7 112.0 77.3 96.2 97.6 112.0 112.8 123.8 132.9 24

 25 LM753192305 Foreign direct investment: intercompany debt 17.1 16.9 16.6 16.2 16.7 16.9 16.6 16.5 16.8 25

 26 FL753193005 Miscellaneous liabilities 102.2 189.6 112.9 140.3 168.6 189.6 140.8 156.5 168.1 26

 Memo:

 27 LM753192103 Foreign direct investment: equity 463.4 344.7 425.7 346.1 321.1 344.7 369.7 408.3 397.8 27

 28 FL753194503 Investment by other financial business 108.5 109.4 132.2 105.6 116.6 109.4 117.1 114.2 137.5 28

 29 FL753139105 Uninsured deposits (2) 1144.2 1235.9 1215.0 1261.4 1256.3 1235.9 1205.6 1223.0 1224.3 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) All checkable deposits (line 21) and time and savings deposits (line 22) are considered uninsured according to the Federal Deposit Insurance Act.
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L.113 Banks in U.S.-Affiliated Areas (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL744090005 Total financial assets 134.1 128.6 128.1 128.3 134.2 128.6 128.5 129.7 152.3 1

 2 FL743013003 Reserves at Federal Reserve 21.9 6.0 13.3 11.8 4.9 6.0 6.5 9.2 6.3 2

 3 LM744022003 Debt securities 47.5 50.9 47.8 51.3 54.5 50.9 50.0 49.6 68.9 3

 4 LM743061103 Treasury securities 19.6 23.5 19.6 23.0 26.8 23.5 23.0 22.8 22.5 4

 5 LM743061703 Agency- and GSE-backed securities 16.5 16.2 16.9 16.9 16.6 16.2 16.0 15.7 15.7 5

 6 LM743062003 Municipal securities 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 6

 7 LM743063005 Corporate and foreign bonds 11.3 11.1 11.3 11.2 11.1 11.1 11.1 11.0 30.7 7

 8 FL744023003 Loans 37.2 38.9 37.2 37.6 38.5 38.9 37.8 38.5 40.0 8

 9 FL743068005 Depository institution loans n.e.c. 15.8 17.2 15.9 16.3 16.8 17.2 16.7 17.5 18.7 9

 10 FL743065103 One-to-four-family residential mortgages 12.0 11.4 11.7 11.5 11.4 11.4 11.0 11.0 11.2 10

 11 FL743065505 Commercial mortgages 9.4 10.3 9.6 9.8 10.3 10.3 10.1 10.0 10.2 11

 12 FL743093005 Miscellaneous assets 27.5 32.8 29.7 27.7 36.3 32.8 34.1 32.3 37.0 12

 13 FL744190005 Total liabilities 126.2 121.0 120.3 120.5 125.8 121.0 120.8 121.9 144.3 13

 14 FL744110005 Net interbank liabilities -1.4 -1.4 -1.4 -1.4 -2.8 -1.4 -1.4 -1.3 -1.5 14

 15 FL743127003 Checkable deposits 64.0 57.9 57.8 59.2 61.8 57.9 56.9 57.9 57.3 15

 16 FL743130003 Time and savings deposits 40.7 38.7 39.9 38.6 41.4 38.7 39.6 39.0 39.8 16

 17 FL743193005 Miscellaneous liabilities 22.8 25.8 24.1 24.1 25.5 25.8 25.7 26.2 48.6 17

 Memo:

 18 FL743139105 Uninsured deposits (2) 52.5 44.8 46.7 48.1 48.8 44.8 44.5 47.5 47.4 18

(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.

(2) Includes checkable deposits (line 15) and time and savings deposits (line 16) not insured by the Federal Deposit Insurance Corporation.

L.114 Credit Unions

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

 1 FL474090005 Total financial assets 2041.3 2123.8 2083.8 2091.2 2109.0 2123.8 2172.0 2179.3 2189.5 1

 2 FL473013005 Reserves at Federal Reserve 213.8 93.5 200.3 137.2 114.6 93.5 126.9 114.1 112.4 2

 3 FL472050053 Federal funds and security repos 0.2 0.1 0.2 0.2 0.2 0.1 0.1 0.1 0.1 3

 4 LM474022005 Debt securities 403.1 385.4 414.7 413.9 395.5 385.4 381.3 370.6 358.9 4

 5 FL473069153 Open market paper 0.3 0.1 0.5 0.4 0.1 0.1 0.0 0.0 0.0 5

 6 LM473061105 Treasury securities 62.6 78.4 74.0 79.5 79.1 78.4 76.7 77.5 79.9 6

 7 LM473061705 Agency- and GSE-backed securities 307.5 276.6 305.7 299.9 284.5 276.6 274.8 264.3 249.3 7

 8 LM473062005 Municipal securities 12.3 10.8 11.9 11.6 11.0 10.8 11.0 10.7 11.1 8

 9 LM473063005 Corporate and foreign bonds 20.6 19.5 22.6 22.6 20.9 19.5 18.8 18.1 18.5 9

 10 FL474023000 Loans 1286.2 1531.2 1328.3 1411.4 1482.5 1531.2 1555.2 1587.6 1619.4 10

 11 FL473068005 Depository institution loans n.e.c. 86.6 223.8 187.3 204.6 215.4 223.8 229.0 238.2 243.0 11

 12 FL473065100 One-to-four-family residential mortgages 667.5 670.7 593.8 622.4 650.8 670.7 681.2 695.4 712.5 12

 13 FL473066000 Consumer credit 532.0 636.7 547.2 584.4 616.3 636.7 645.0 654.0 663.9 13

 14 FL473092403 Equity in FHLB 4.3 6.3 4.3 5.1 5.6 6.3 6.2 6.0 6.3 14

 15 LM473064205 Mutual fund shares 7.1 4.2 7.4 5.7 4.3 4.2 4.0 4.0 4.3 15

 16 FL473093005 Miscellaneous assets 126.5 103.1 128.6 117.7 106.3 103.1 98.3 96.9 88.1 16

 17 FL474190005 Total liabilities 1854.9 1956.6 1905.7 1919.6 1945.8 1956.6 2003.5 2010.7 2018.3 17

 18 FL474110005 Net interbank liabilities -30.8 -52.4 -48.0 -57.8 -51.6 -52.4 -45.7 -44.3 -44.3 18

 19 FL473127003 Checkable deposits 374.2 389.1 395.2 390.1 394.8 389.1 401.1 390.9 386.3 19

 20 FL473130005 Time and savings deposits 1442.5 1490.4 1486.6 1494.3 1494.4 1490.4 1518.0 1516.0 1516.8 20

 21 FL472150053 Federal funds and security repos 0.0 0.2 0.0 0.0 0.0 0.2 0.1 0.0 0.0 21

 22 FL473169333 Loans (other loans and advances) 40.7 96.7 42.3 59.9 77.6 96.7 87.7 85.0 89.3 22

 23 FL473193005 Miscellaneous liabilities 28.3 32.7 29.5 33.1 30.6 32.7 42.4 63.0 70.1 23

 Memo:

 24 FL473139103 Uninsured deposits (1) 153.8 163.1 161.3 163.8 164.3 163.1 158.4 153.7 156.8 24

(1) Includes checkable deposits (line 19) and time and savings deposits (line 20) not insured by the National Credit Union Share Insurance Fund.
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L.115 Property-Casualty Insurance Companies

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL514090005 Total financial assets 3100.2 2977.9 3071.5 2956.8 2880.3 2977.9 3132.0 3178.2 3116.7 1

 2 FL513020005 Checkable deposits and currency 72.7 50.3 53.5 47.8 48.1 50.3 44.7 47.2 41.8 2

 3 FL513034005 Money market fund shares 31.5 42.9 27.8 29.5 35.0 42.9 42.2 47.6 38.2 3

 4 FL512051005 Security repurchase agreements 2.2 2.3 1.4 1.6 1.8 2.3 2.5 2.5 3.4 4

 5 LM514022005 Debt securities 1320.1 1241.7 1245.2 1205.9 1183.2 1241.7 1290.0 1288.9 1300.2 5

 6 FL513069105 Open market paper 4.5 4.3 2.9 3.3 3.4 4.3 4.5 4.7 6.2 6

 7 LM513061105 Treasury securities 187.9 212.9 164.9 172.7 182.9 212.9 223.0 226.5 254.1 7

 8 LM513061705 Agency- and GSE-backed securities 136.0 129.2 130.6 128.5 126.0 129.2 134.3 138.9 149.0 8

 9 LM513062005 Municipal securities 289.4 246.1 271.8 260.7 244.9 246.1 242.8 233.7 215.2 9

 10 LM513063005 Corporate and foreign bonds 702.4 649.2 674.9 640.8 626.0 649.2 685.3 685.2 675.7 10

 11 FL513065505 Loans (commercial mortgages) 27.7 30.4 29.6 30.4 30.9 30.4 30.5 31.8 31.9 11

 12 LM513092305 U.S. direct investment abroad: intercompany debt -1.1 -2.1 -2.4 -1.5 -2.3 -2.1 -0.7 -2.0 -0.9 12

 13 LM513064105 Corporate equities 642.8 532.9 674.3 595.8 506.5 532.9 578.0 608.0 559.7 13

 14 LM513092103 U.S. direct investment abroad: equity 307.2 236.1 283.4 232.4 210.4 236.1 256.0 270.2 265.5 14

 15 FL513092403 Equity in FHLB 0.6 0.3 0.5 0.4 0.3 0.3 0.3 0.3 0.3 15

 16 LM513064205 Mutual fund shares 36.2 30.8 34.8 28.5 28.3 30.8 31.2 32.5 31.0 16

 17 FL513070005 Trade receivables 233.4 259.7 246.7 256.8 256.0 259.7 273.9 280.1 284.1 17

 18 FL513090005 Miscellaneous assets 427.2 552.5 476.7 529.2 582.1 552.5 583.6 571.3 561.4 18

 19 FL513076005 Policy payables (1) 349.8 376.6 356.5 363.2 369.9 376.6 386.3 394.3 402.9 19

 20 FL513094703 Receivables due from holding company parents 0.4 1.2 0.0 0.2 1.3 1.2 1.1 0.6 0.0 20

 21 FL513093005 Other 76.9 174.7 120.2 165.8 211.0 174.7 196.2 176.4 158.4 21

 22 FL514190005 Total liabilities 1961.1 2098.4 2016.4 2045.8 2101.2 2098.4 2171.8 2214.8 2264.7 22

 23 FL512151003 Security repurchase agreements 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.4 0.5 23

 24 FL513169333 Loans (other loans and advances) 7.0 5.2 6.3 5.8 5.1 5.2 4.7 4.4 4.2 24

 25 LM513192305 Foreign direct investment: intercompany debt 10.3 10.5 10.2 10.0 10.5 10.5 10.2 10.2 9.9 25

 26 FL513170005 Trade payables 109.5 124.6 113.3 117.1 120.9 124.6 127.9 130.5 133.4 26

 27 FL513178005 Taxes payable 10.3 10.5 11.3 8.7 8.2 10.5 10.7 9.1 9.3 27

 28 FL513190005 Miscellaneous liabilities 1823.9 1947.3 1875.3 1904.2 1956.4 1947.3 2017.9 2060.3 2107.4 28

 29 FL513194703 Other investment by holding company parent 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 29

 30 FL513176005 Policy payables 1504.7 1624.7 1523.4 1562.8 1609.9 1624.7 1666.7 1701.1 1738.4 30

 31 FL513193005 Other 319.0 322.6 351.8 341.4 346.5 322.6 351.2 359.2 368.7 31

 Memo:

 32 LM513192103 Foreign direct investment: equity 279.7 213.8 259.6 213.3 202.5 213.8 227.9 250.6 242.1 32

 33 FL513194603 Equity investment by holding company parent 3.6 4.5 4.2 4.4 4.5 4.5 4.9 4.8 4.6 33

 34 FL513200003 Securities lending (2) 7.9 8.0 8.4 8.9 8.5 8.0 8.1 7.6 7.4 34

 35 FL514090023 Financial guaranty insurers’ total assets (3) 20.8 19.1 21.0 19.9 19.7 19.1 19.0 19.2 18.6 35

 36 FL514090033 Mortgage guaranty insurers’ total assets (3) 32.1 32.0 32.2 31.9 32.5 32.0 32.5 32.2 32.9 36

 37 FL513176015 Direct reserve 1269.3 1373.8 1284.1 1319.6 1362.9 1373.8 1409.4 1438.4 1470.0 37

 38 FL513176025 Reinsured to U.S. reinsurers 170.3 184.2 173.8 177.3 180.8 184.2 189.0 192.9 197.1 38

 39 FL263176005 Reinsured to non-U.S. reinsurers 179.5 192.3 182.7 185.9 189.1 192.3 197.3 201.4 205.8 39

 40 FL263076005 Reinsured from non-U.S. reinsurers 65.1 66.6 65.5 65.9 66.3 66.6 68.4 69.8 71.3 40

(1) Policy payables due from reinsurers.

(2) Liability for securities lending collateral, included in line 29.

(3) Total nonfinancial and financial assets of financial guaranty insurers and mortgage guaranty insurers as reported in statutory financial statements, with securities reported at book/adjusted

 carrying value.
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L.116 Life Insurance Companies (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL544090005 Total financial assets 9862.8 8851.2 9409.5 8853.8 8616.8 8851.2 9139.9 9268.9 9112.5 1

 2 FL543020005 Checkable deposits and currency 119.3 115.5 111.1 114.7 115.8 115.5 118.8 134.6 124.4 2

 3 FL543034005 Money market fund shares 64.2 74.3 65.1 70.7 72.6 74.3 76.9 85.1 81.0 3

 4 FL542051075 Security repurchase agreements 9.8 4.5 7.9 6.1 5.7 4.5 5.8 6.5 7.0 4

 5 LM544022005 Debt securities 4452.1 3796.4 4138.7 3870.6 3689.0 3796.4 3954.4 3944.8 3834.0 5

 6 FL543069105 Open market paper 41.0 25.1 35.8 30.1 29.0 25.1 26.2 28.4 29.1 6

 7 LM543061105 Treasury securities 231.4 178.4 209.6 193.4 183.9 178.4 182.9 185.4 180.4 7

 8 LM543061705 Agency- and GSE-backed securities 312.3 258.8 292.2 276.6 266.8 258.8 264.0 265.9 265.3 8

 9 LM543062005 Municipal securities 234.9 192.2 215.2 204.1 191.4 192.2 195.2 191.1 181.5 9

 10 LM543063005 Corporate and foreign bonds 3632.5 3141.8 3386.0 3166.3 3017.8 3141.8 3286.1 3274.0 3177.8 10

 11 FL544023005 Loans 858.3 925.5 878.4 897.2 912.2 925.5 938.3 951.4 964.4 11

 12 FL543069005 Other loans and advances 167.4 168.4 166.1 166.0 168.9 168.4 169.6 169.3 170.4 12

 13 FL543065005 Mortgages 690.9 757.1 712.3 731.2 743.3 757.1 768.7 782.0 793.9 13

 14 LM543092375 U.S. direct investment abroad: intercompany debt -0.3 -0.2 -0.6 -0.3 -0.3 -0.2 -0.1 -0.3 -0.2 14

 15 LM543064105 Corporate equities 765.6 623.7 728.5 637.0 595.6 623.7 651.7 663.7 633.9 15

 16 LM543092173 U.S. direct investment abroad: equity 86.7 25.1 68.3 44.7 31.3 25.1 34.0 35.5 39.3 16

 17 FL543092473 Equity in FHLB 9.1 8.1 9.6 9.1 8.5 8.1 7.8 8.4 8.7 17

 18 LM543064205 Mutual fund shares 1840.8 1420.3 1693.3 1443.4 1353.5 1420.3 1468.1 1512.3 1432.0 18

 19 FL543040005 Life insurance reserves 284.9 279.3 283.5 282.1 280.7 279.3 282.7 284.7 285.8 19

 20 FL543050005 Pension entitlements 380.0 484.2 406.0 432.0 458.0 484.2 496.2 501.0 525.3 20

 21 FL543070005 Trade receivables 140.5 136.6 139.5 138.6 137.6 136.6 137.5 140.7 149.5 21

 22 FL543090005 Miscellaneous assets 851.9 958.0 880.0 908.0 956.4 958.0 967.8 1000.5 1027.4 22

 23 FL543094703 Balances due from holding company parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL543077073 Deferred and unpaid life ins. premiums 38.1 36.6 39.8 39.0 39.1 36.6 37.6 37.7 38.3 24

 25 FL543095105 Other reserves 90.6 85.7 89.3 88.1 86.9 85.7 86.4 87.0 87.4 25

 26 FL543093005 Other 723.3 835.7 750.9 780.8 830.5 835.7 843.8 875.9 901.6 26

 27 FL544190005 Total liabilities 8888.4 8582.8 8757.2 8478.7 8457.2 8582.8 8800.2 8964.5 8920.6 27

 28 FL542151073 Security repurchase agreements 20.1 35.5 22.9 24.4 31.9 35.5 33.8 38.1 40.7 28

 29 FL543169373 Loans (other loans and advances) 110.8 132.4 121.9 129.2 132.2 132.4 139.0 135.5 138.3 29

 30 LM543192375 Foreign direct investment: intercompany debt 11.4 6.6 10.1 8.4 7.5 6.6 6.6 6.6 7.7 30

 31 FL543140005 Life insurance reserves 2344.0 2345.1 2337.7 2313.9 2317.6 2345.1 2382.6 2411.0 2402.4 31

 32 FL543150005 Pension entitlements (2) 4038.5 3756.0 3911.0 3690.8 3649.3 3756.0 3873.4 3971.1 3911.7 32

 33 FL543170005 Trade payables 355.0 371.2 359.1 363.0 367.1 371.2 375.4 381.8 392.7 33

 34 FL543178075 Taxes payable 7.0 5.9 6.1 5.1 5.2 5.9 6.4 5.6 6.4 34

 35 FL543190005 Miscellaneous liabilities 2001.6 1930.0 1988.4 1944.0 1946.4 1930.0 1983.0 2014.8 2020.6 35

 36 FL543194703 Other investment by holding company parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FL673090543 Funding agreements backing securities (3) 155.4 173.7 169.9 172.0 171.3 173.7 175.8 178.3 182.3 37

 38 FL543195005 Other reserves (4) 462.8 465.5 464.7 462.4 464.1 465.5 472.0 474.2 475.9 38

 39 FL593095005 Unallocated insurance contracts 914.5 872.4 896.7 864.2 854.0 872.4 889.6 899.5 892.8 39

 40 FL543193005 Other 468.8 418.4 457.1 445.3 456.9 418.4 445.7 462.8 469.6 40

 Memo:

 41 LM543192173 Foreign direct investment: equity 309.5 134.9 259.3 179.4 144.9 134.9 146.5 162.4 157.7 41

 42 FL543194603 Equity investment by holding company parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 FL543200073 Securities lending (5) 54.5 41.7 56.8 50.3 44.1 41.7 43.5 41.4 40.3 43

 44 FL543176015 Direct reserve 7477.2 7180.9 7347.4 7075.9 7027.7 7180.9 7356.7 7490.5 7409.8 44

 45 FL543176025 Reinsured to U.S. reinsurers 917.1 968.0 927.3 930.6 943.4 968.0 986.1 998.0 1007.5 45

 46 FL543076035 Reinsured to non-U.S. reinsurers 689.8 808.9 719.5 748.4 777.9 808.9 825.9 833.9 846.3 46

 47 FL543176035 Reinsured from non-U.S. reinsurers 2.3 10.8 4.4 6.6 8.7 10.8 11.0 11.2 11.2 47

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables L.116.g and L.116.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 37.

(3) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(4) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.

(5) Liability for securities lending collateral, included in line 38.
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L.116.g Life Insurance Companies: General Accounts

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL544090075 Total financial assets 6573.9 6153.2 6326.5 6132.2 6017.4 6153.2 6329.5 6363.1 6318.1 1

 2 FL543020075 Checkable deposits and currency 85.6 74.8 75.2 77.4 76.2 74.8 75.7 89.5 79.3 2

 3 FL543034075 Money market fund shares 37.4 39.7 34.5 37.3 38.5 39.7 43.0 50.8 46.0 3

 4 FL542051075 Security repurchase agreements 9.8 4.5 7.9 6.1 5.7 4.5 5.8 6.5 7.0 4

 5 LM544022075 Debt securities 3916.3 3300.7 3627.5 3381.8 3212.9 3300.7 3429.6 3395.9 3285.7 5

 6 FL543069175 Open market paper 22.8 16.3 19.9 16.8 17.8 16.3 16.9 18.6 19.3 6

 7 LM543061175 Treasury securities 175.0 133.1 155.6 142.8 135.3 133.1 135.0 135.3 130.3 7

 8 LM543061775 Agency- and GSE-backed securities 230.8 181.6 211.0 197.5 187.4 181.6 182.2 180.4 179.9 8

 9 LM543062075 Municipal securities 221.6 178.3 201.6 190.5 177.4 178.3 180.4 175.7 166.0 9

 10 LM543063075 Corporate and foreign bonds 3266.0 2791.4 3039.4 2834.1 2695.1 2791.4 2915.0 2885.9 2790.1 10

 11 FL544023075 Loans 807.5 863.7 824.2 840.9 852.1 863.7 872.9 882.9 896.0 11

 12 FL543069075 Other loans and advances 167.4 168.4 166.1 166.0 168.9 168.4 169.6 169.3 170.4 12

 13 FL543065075 Mortgages 640.1 695.3 658.2 674.9 683.2 695.3 703.3 713.6 725.6 13

 14 LM543092375 U.S. direct investment abroad: intercompany debt -0.3 -0.2 -0.6 -0.3 -0.3 -0.2 -0.1 -0.3 -0.2 14

 15 LM543064175 Corporate equities 133.4 116.7 140.4 129.3 115.1 116.7 123.0 120.8 122.2 15

 16 LM543092173 U.S. direct investment abroad: equity 86.7 25.1 68.3 44.7 31.3 25.1 34.0 35.5 39.3 16

 17 FL543092473 Equity in FHLB 9.1 8.1 9.6 9.1 8.5 8.1 7.8 8.4 8.7 17

 18 LM543064275 Mutual fund shares 7.9 9.2 7.6 7.2 8.2 9.2 9.2 8.8 8.5 18

 19 FL543040075 Life insurance reserves 284.9 279.3 283.5 282.1 280.7 279.3 282.7 284.7 285.8 19

 20 FL543050075 Pension entitlements 378.5 483.0 404.6 430.7 456.9 483.0 494.9 499.6 524.0 20

 21 FL543070075 Trade receivables 140.4 136.6 139.5 138.5 137.5 136.6 137.5 140.7 149.5 21

 22 FL543090075 Miscellaneous assets 676.7 812.3 704.1 747.5 794.1 812.3 813.6 839.2 866.2 22

 23 FL544190075 Total liabilities 5588.5 5873.6 5663.8 5749.5 5851.5 5873.6 5977.8 6045.3 6114.4 23

 24 FL542151073 Security repurchase agreements 20.1 35.5 22.9 24.4 31.9 35.5 33.8 38.1 40.7 24

 25 FL543169373 Loans (other loans and advances) 110.8 132.4 121.9 129.2 132.2 132.4 139.0 135.5 138.3 25

 26 LM543192375 Foreign direct investment: intercompany debt 11.4 6.6 10.1 8.4 7.5 6.6 6.6 6.6 7.7 26

 27 FL543140075 Life insurance reserves 1910.4 1947.6 1919.4 1934.4 1945.3 1947.6 1971.1 1985.4 1993.2 27

 28 FL543150075 Pension entitlements (1) 1608.8 1739.9 1627.2 1671.6 1715.1 1739.9 1790.5 1814.5 1839.5 28

 29 FL543170075 Trade payables 354.3 370.6 358.4 362.4 366.5 370.6 374.7 381.1 392.0 29

 30 FL543178075 Taxes payable 7.0 5.9 6.1 5.1 5.2 5.9 6.4 5.6 6.4 30

 31 FL543190075 Miscellaneous liabilities 1565.8 1635.0 1597.8 1614.1 1647.8 1635.0 1655.7 1678.5 1696.4 31

 Memo:

 32 LM543192173 Foreign direct investment: equity 309.5 134.9 259.3 179.4 144.9 134.9 146.5 162.4 157.7 32

 33 FL543194603 Equity investment by holding company parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 31).

L.116.s Life Insurance Companies: Separate Accounts

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

 1 FL544090085 Total financial assets 3288.9 2698.0 3083.0 2721.5 2599.4 2698.0 2810.5 2905.8 2794.3 1

 2 FL543020083 Checkable deposits and currency 33.8 40.7 35.9 37.3 39.7 40.7 43.1 45.1 45.1 2

 3 FL543034385 Money market fund shares 26.8 34.7 30.6 33.4 34.1 34.7 33.9 34.4 35.0 3

 4 LM544022085 Debt securities 535.8 495.7 511.1 488.7 476.1 495.7 524.8 548.9 548.3 4

 5 FL543069183 Open market paper 18.1 8.8 15.8 13.3 11.2 8.8 9.4 9.8 9.8 5

 6 LM543061183 Treasury securities 56.4 45.3 54.0 50.5 48.7 45.3 47.9 50.1 50.1 6

 7 LM543061783 Agency- and GSE-backed securities 81.5 77.2 81.2 79.1 79.5 77.2 81.7 85.5 85.4 7

 8 LM543062083 Municipal securities 13.3 13.9 13.6 13.6 14.0 13.9 14.8 15.4 15.4 8

 9 LM543063085 Corporate and foreign bonds 366.5 350.5 346.5 332.2 322.7 350.5 371.0 388.0 387.6 9

 10 FL544023085 Loans 50.7 61.8 54.1 56.3 60.1 61.8 65.4 68.4 68.4 10

 11 FL543069483 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL543065083 Mortgages 50.7 61.8 54.1 56.3 60.1 61.8 65.4 68.4 68.4 12

 13 LM543064185 Corporate equities 632.1 507.0 588.1 507.7 480.5 507.0 528.7 542.9 511.6 13

 14 LM543064385 Mutual fund shares 1832.9 1411.1 1685.7 1436.2 1345.4 1411.1 1459.0 1503.4 1423.6 14

 15 FL543040085 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL543050085 Pension entitlements 1.4 1.2 1.4 1.2 1.2 1.2 1.3 1.3 1.3 16

 17 FL543070085 Trade receivables 0.1 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 17

 18 FL543090085 Miscellaneous assets 175.2 145.7 175.9 160.5 162.3 145.7 154.3 161.3 161.2 18

 19 FL544190085 Total liabilities 3299.9 2709.2 3093.4 2729.1 2605.7 2709.2 2822.4 2919.2 2806.2 19

 20 LM543140085 Life insurance reserves 433.6 397.4 418.3 379.5 372.3 397.4 411.5 425.6 409.2 20

 21 LM543150085 Pension entitlements (1) 2429.7 2016.1 2283.7 2019.1 1934.2 2016.1 2082.8 2156.5 2072.2 21

 22 FL543170085 Trade payables 0.7 0.6 0.7 0.6 0.6 0.6 0.7 0.7 0.7 22

 23 FL543190085 Miscellaneous liabilities 435.8 295.0 390.7 329.9 298.6 295.0 327.3 336.3 324.2 23

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 23).
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L.117 Private and Public Pension Funds (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL594090005 Total financial assets (2) 27451.8 24088.3 26490.2 24901.6 24098.3 24088.3 24662.5 25210.6 25052.0 1

 2 FL593020005 Checkable deposits and currency 54.2 50.6 53.0 53.1 49.6 50.6 50.8 57.1 58.2 2

 3 FL593030005 Time and savings deposits 19.6 24.6 17.6 19.4 18.0 24.6 21.5 18.8 19.1 3

 4 FL593034005 Money market fund shares 238.3 250.8 238.7 240.9 243.4 250.8 254.6 253.0 255.7 4

 5 FL592051005 Security repurchase agreements 46.3 67.7 38.9 39.0 51.9 67.7 79.3 41.4 33.9 5

 6 LM594022005 Debt securities 5492.9 5443.4 5368.0 5270.4 5236.8 5443.4 5319.9 5659.6 5643.1 6

 7 FL593069105 Open market paper 62.2 55.3 65.4 65.6 59.4 55.3 57.1 59.5 57.9 7

 8 LM593061105 Treasury securities (3) 3376.0 3533.7 3349.3 3340.4 3354.7 3533.7 3311.3 3670.0 3692.0 8

 9 LM593061705 Agency- and GSE-backed securities 469.1 426.7 456.3 441.8 422.0 426.7 408.3 420.0 411.4 9

 10 LM593062045 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM593063005 Corporate and foreign bonds 1585.6 1427.6 1497.0 1422.6 1400.6 1427.6 1543.1 1510.1 1481.7 11

 12 FL594023005 Loans 32.2 32.8 32.3 32.3 33.3 32.8 306.8 34.1 34.5 12

 13 FL313169003 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 272.8 0.0 0.0 13

 14 FL593065005 Mortgages 32.2 32.8 32.3 32.3 33.3 32.8 34.0 34.1 34.5 14

 15 LM593064105 Corporate equities 7739.7 6319.7 7343.5 6322.0 5962.9 6319.7 6466.2 6901.9 6585.1 15

 16 LM593064205 Mutual fund shares 5727.5 4615.7 5366.7 4656.8 4382.6 4615.7 4898.7 5036.6 4833.3 16

 17 FL593090005 Miscellaneous assets 8101.0 7283.0 8031.5 8267.6 8119.7 7283.0 7264.6 7208.0 7589.0 17

 18 FL593095005 Unallocated insurance contracts (4) 914.5 872.4 896.7 864.2 854.0 872.4 889.6 899.5 892.8 18

 19 FL573074005 Contributions receivable 70.9 69.5 70.3 69.8 69.6 69.5 68.3 67.1 66.7 19

 20 FL593073005 Claims of pension fund on sponsor (5) 5188.3 4318.9 5129.6 5357.0 5207.3 4318.9 4179.6 4074.5 4402.5 20

 21 FL593093005 Other 1927.3 2022.1 1934.9 1976.7 1988.7 2022.1 2127.2 2166.8 2227.1 21

 22 FL594190005 Pension entitlements (liabilities) (6) 27661.0 24340.7 26719.4 25148.7 24346.9 24340.7 24866.1 25351.3 25166.2 22

 Memo:

 Funded status of defined benefit plans:

 23 FL594190045 Pension entitlements 16862.7 15201.4 16447.7 16030.6 15614.6 15201.4 15296.6 15391.5 15484.8 23

 24 FL592000075 Funded by assets (7) 11674.5 10882.5 11318.1 10673.6 10407.3 10882.5 11117.0 11317.0 11082.3 24

 25 FL593073045 Unfunded (line 20) 5188.3 4318.9 5129.6 5357.0 5207.3 4318.9 4179.6 4074.5 4402.5 25

 26 FL153050015 Household retirement assets (8) 45366.5 39307.7 43492.4 40164.5 38653.2 39307.7 40442.4 41497.4 ND 26

 27 FL594190045 Defined benefit plans 16862.7 15201.4 16447.7 16030.6 15614.6 15201.4 15296.6 15391.5 15484.8 27

 28 FL594090055 Defined contribution plans 10798.3 9139.3 10271.7 9118.1 8732.4 9139.3 9569.4 9959.8 9681.4 28

 29 LM893131573 Individual retirement plans (IRAs) (9) 14460.0 11950.0 13630.0 12050.0 11375.0 11950.0 12465.0 12955.0 ND 29

 30 FL543150015 Annuities at life insurance companies (10) 3245.5 3017.0 3143.0 2965.8 2931.3 3017.0 3111.4 3191.1 ND 30

(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) Includes both marketable and nonmarketable government securities.

(4) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(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 memo items on table L.229 for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs are excluded. They are included in line 29.
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L.118 Private Pension Funds (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL574090005 Total financial assets (2) 13166.6 11706.7 12678.4 11641.7 11308.6 11706.7 12094.7 12441.6 12186.6 1

 2 FL573020005 Checkable deposits and currency 24.5 24.0 24.5 24.4 24.3 24.0 24.2 24.3 24.2 2

 3 FL573030005 Time and savings deposits 17.3 18.2 17.4 17.7 18.0 18.2 18.5 18.8 19.0 3

 4 FL573034005 Money market fund shares 212.0 228.3 214.3 218.5 222.9 228.3 230.9 233.7 237.3 4

 5 FL572051005 Security repurchase agreements 18.7 19.5 18.9 19.1 19.3 19.5 19.8 20.2 20.4 5

 6 LM574022005 Debt securities 1821.0 1688.4 1711.2 1649.4 1610.9 1688.4 1789.0 1820.1 1784.7 6

 7 FL573069105 Open market paper 41.7 44.1 42.2 42.8 43.4 44.1 44.7 45.4 45.9 7

 8 LM573061105 Treasury securities 507.8 512.1 482.1 475.3 479.9 512.1 566.8 592.3 576.7 8

 9 LM573061705 Agency- and GSE-backed securities 259.2 253.0 250.1 249.3 245.8 253.0 260.7 261.4 262.2 9

 10 LM573063005 Corporate and foreign bonds 1012.2 879.2 936.8 882.0 841.8 879.2 916.8 921.0 899.9 10

 11 FL573065005 Loans (mortgages) 25.5 26.3 25.6 25.8 26.0 26.3 26.5 26.7 26.9 11

 12 LM573064105 Corporate equities 3869.8 2929.4 3621.1 2960.0 2780.1 2929.4 3076.8 3280.9 3129.0 12

 13 LM573064205 Mutual fund shares 5430.1 4385.7 5084.8 4412.5 4152.9 4385.7 4624.0 4806.7 4620.6 13

 14 FL573090005 Miscellaneous assets 1747.8 2387.0 1960.4 2314.3 2454.2 2387.0 2285.0 2210.2 2324.6 14

 15 FL573095005 Unallocated insurance contracts (3) 640.4 594.3 621.1 591.4 580.7 594.3 606.8 613.9 606.8 15

 16 FL573074005 Contributions receivable 70.9 69.5 70.3 69.8 69.6 69.5 68.3 67.1 66.7 16

 17 FL573073005 Claims of pension fund on sponsor (4) 55.4 720.0 280.1 657.8 806.2 720.0 614.3 537.3 647.9 17

 18 FL573093005 Other 981.1 1003.1 988.9 995.3 997.7 1003.1 995.6 991.8 1003.2 18

 19 FL574190005 Pension entitlements (liabilities) (5) 13203.1 11743.2 12714.9 11678.2 11345.1 11743.2 12131.2 12478.1 12223.1 19

 Memo:

 Funded status of defined benefit plans:

 20 FL574190043 Pension entitlements 3714.0 3765.2 3726.8 3739.6 3752.4 3765.2 3769.3 3773.4 3777.5 20

 21 FL572000075 Funded by assets (6) 3658.6 3045.2 3446.7 3081.8 2946.3 3045.2 3155.0 3236.1 3129.5 21

 22 FL573073005 Unfunded (line 17) 55.4 720.0 280.1 657.8 806.2 720.0 614.3 537.3 647.9 22

 Total financial assets

 23 FL574090045 Defined benefit plans (7) 3677.5 3728.7 3690.3 3703.1 3715.9 3728.7 3732.8 3736.9 3741.0 23

 24 FL574090055 Defined contribution plans (8) 9489.2 7978.0 8988.1 7938.6 7592.7 7978.0 8361.8 8704.7 8445.6 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) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; 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 is available on tables L.118.b.

(8) Additional detail on defined contribution plans is available on table L.118.c.
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L.118.b Private Pension Funds: Defined Benefit Plans

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL574090045 Total financial assets (1) 3677.5 3728.7 3690.3 3703.1 3715.9 3728.7 3732.8 3736.9 3741.0 1

 2 FL573020043 Checkable deposits and currency 11.7 12.4 11.9 12.1 12.3 12.4 12.8 13.1 13.3 2

 3 FL573030043 Time and savings deposits 12.1 12.6 12.2 12.4 12.5 12.6 12.8 13.0 13.2 3

 4 FL573034043 Money market fund shares 49.5 51.6 50.0 50.7 51.1 51.6 52.5 53.4 53.9 4

 5 FL572051043 Security repurchase agreements 18.7 19.5 18.9 19.1 19.3 19.5 19.8 20.2 20.4 5

 6 LM574022045 Debt securities 1238.9 1092.6 1158.3 1100.4 1057.9 1092.6 1153.8 1172.4 1143.1 6

 7 FL573069143 Open market paper 29.7 31.0 30.0 30.4 30.7 31.0 31.5 32.0 32.3 7

 8 LM573061143 Treasury securities 291.3 275.4 275.1 265.4 263.1 275.4 305.6 322.5 311.6 8

 9 LM573061743 Agency- and GSE-backed securities 143.5 133.3 137.7 135.6 131.8 133.3 137.2 137.3 136.5 9

 10 LM573063043 Corporate and foreign bonds 774.5 652.9 715.5 669.0 632.2 652.9 679.4 680.6 662.6 10

 11 FL573065043 Loans (mortgages) 15.6 16.1 15.7 15.9 16.0 16.1 16.2 16.4 16.5 11

 12 LM573064143 Corporate equities 1403.4 1027.5 1302.9 1052.5 981.4 1027.5 1061.4 1111.8 1049.8 12

 13 LM573064243 Mutual fund shares 414.9 328.0 386.1 333.1 312.3 328.0 339.8 349.6 334.7 13

 14 FL573090045 Miscellaneous assets 512.6 1168.4 734.3 1106.9 1253.2 1168.4 1063.6 987.1 1096.2 14

 15 FL573095405 Unallocated insurance contracts (2) 63.0 53.7 59.9 54.7 52.5 53.7 54.5 54.8 53.1 15

 16 FL573074043 Contributions receivable 27.9 24.3 27.1 25.9 25.1 24.3 22.7 21.3 20.3 16

 17 FL573073005 Claims of pension fund on sponsor (3) 55.4 720.0 280.1 657.8 806.2 720.0 614.3 537.3 647.9 17

 18 FL573093043 Other 366.2 370.4 367.2 368.5 369.4 370.4 372.1 373.8 374.8 18

 19 FL574190043 Pension entitlements (liabilities) (4) 3714.0 3765.2 3726.8 3739.6 3752.4 3765.2 3769.3 3773.4 3777.5 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.118.c Private Pension Funds: Defined Contribution Plans (1)

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

 1 FL574090055 Total financial assets 9489.2 7978.0 8988.1 7938.6 7592.7 7978.0 8361.8 8704.7 8445.6 1

 2 FL573020033 Checkable deposits and currency 12.8 11.5 12.7 12.4 12.0 11.5 11.4 11.2 11.0 2

 3 FL573030033 Time and savings deposits 5.2 5.6 5.2 5.3 5.5 5.6 5.7 5.7 5.8 3

 4 FL573034055 Money market fund shares 162.5 176.7 164.3 167.8 171.7 176.7 178.4 180.4 183.5 4

 5 FL572051033 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 LM574022035 Debt securities 582.0 595.8 552.9 548.9 553.0 595.8 635.2 647.7 641.6 6

 7 FL573069133 Open market paper 12.0 13.1 12.2 12.4 12.7 13.1 13.2 13.4 13.6 7

 8 LM573061133 Treasury securities 216.5 236.7 207.0 209.9 216.7 236.7 261.1 269.8 265.0 8

 9 LM573061733 Agency- and GSE-backed securities 115.8 119.8 112.5 113.6 114.0 119.8 123.5 124.1 125.7 9

 10 LM573063033 Corporate and foreign bonds 237.7 226.3 221.3 212.9 209.5 226.3 237.4 240.4 237.3 10

 11 FL573065033 Loans (mortgages) 9.8 10.2 9.9 10.0 10.1 10.2 10.3 10.3 10.4 11

 12 LM573064133 Corporate equities 2466.5 1901.9 2318.2 1907.5 1798.7 1901.9 2015.3 2169.2 2079.2 12

 13 LM573064255 Mutual fund shares 5015.1 4057.7 4698.7 4079.4 3840.7 4057.7 4284.2 4457.1 4285.9 13

 14 FL573090055 Miscellaneous assets 1235.2 1218.6 1226.2 1207.4 1201.0 1218.6 1221.3 1223.1 1228.3 14

 15 FL573095505 Unallocated insurance contracts (2) 577.4 540.6 561.2 536.7 528.2 540.6 552.3 559.2 553.7 15

 16 FL573074033 Contributions receivable 42.9 45.3 43.3 43.8 44.5 45.3 45.5 45.8 46.3 16

 17 FL573093055 Other 614.9 632.8 621.7 626.8 628.3 632.8 623.5 618.1 628.4 17

 18 FL574090055 Pension entitlements (liabilities) 9489.2 7978.0 8988.1 7938.6 7592.7 7978.0 8361.8 8704.7 8445.6 18

(1) Includes 401(k) and 403(b) type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
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L.119 Federal Government Employee Retirement Funds

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL344090005 Total financial assets (1) 4559.6 3529.5 4314.9 4009.6 3748.0 3529.5 3582.4 3637.1 3641.6 1

 2 FL343020033 Checkable deposits and currency 1.1 0.2 0.9 0.7 0.4 0.2 0.0 0.0 0.0 2

 3 LM344022005 Debt securities 2483.6 2720.0 2512.1 2535.2 2580.1 2720.0 2405.3 2717.4 2757.8 3

 4 LM343061105 Treasury securities (2) 2456.8 2698.2 2487.3 2512.9 2559.0 2698.2 2382.8 2694.5 2735.7 4

 5 LM343061705 Agency- and GSE-backed securities 11.7 9.4 11.0 10.2 9.7 9.4 9.7 9.9 9.7 5

 6 LM343062033 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM343063005 Corporate and foreign bonds 15.0 12.3 13.7 12.0 11.4 12.3 12.8 13.0 12.5 7

 8 FL313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 0.0 0.0 272.8 0.0 0.0 8

 9 LM343064105 Corporate equities 524.0 418.8 485.5 410.1 384.9 418.8 449.0 485.4 474.1 9

 10 FL343073045 Claims of pension fund on sponsor (misc. assets) (4) 1550.9 390.6 1316.4 1063.6 782.6 390.6 455.3 434.2 409.7 10

 11 FL344090005 Pension entitlements (liabilities) (5) 4559.6 3529.5 4314.9 4009.6 3748.0 3529.5 3582.4 3637.1 3641.6 11

 Memo:

 Funded status of defined benefit plans:

 12 FL344090045 Pension entitlements 3732.7 2804.1 3500.8 3266.9 3034.1 2804.1 2823.6 2842.8 2860.3 12

 13 FL342000075 Funded by assets (6) 2181.8 2413.5 2184.4 2203.3 2251.5 2413.5 2368.3 2408.5 2450.6 13

 14 FL343073045 Unfunded (line 10) 1550.9 390.6 1316.4 1063.6 782.6 390.6 455.3 434.2 409.7 14

 Total financial assets

 15 FL344090045 Defined benefit plans (7) 3732.7 2804.1 3500.8 3266.9 3034.1 2804.1 2823.6 2842.8 2860.3 15

 16 FL344090055 Defined contribution plans (8) 826.9 725.4 814.1 742.7 713.9 725.4 758.8 794.3 781.3 16

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Comprised primarily of nonmarketable Treasury securities.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of projected 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 less defined benefit claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans is available on table L.119.b.

(8) Additional detail on defined contribution plans is available on table L.119.c.
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L.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL344090045 Total financial assets (2) 3732.7 2804.1 3500.8 3266.9 3034.1 2804.1 2823.6 2842.8 2860.3 1

 2 FL343020033 Checkable deposits and currency 1.1 0.2 0.9 0.7 0.4 0.2 0.0 0.0 0.0 2

 3 LM344022045 Debt securities 2160.9 2397.4 2164.7 2185.8 2236.0 2397.4 2352.0 2391.8 2434.2 3

 4 LM343061165 Treasury securities (3) 2156.2 2393.2 2160.2 2181.8 2232.0 2393.2 2347.6 2387.4 2429.9 4

 5 LM343061733 Agency- and GSE-backed securities 0.5 0.5 0.5 0.5 0.4 0.5 0.5 0.5 0.5 5

 6 LM343062033 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM343063033 Corporate and foreign bonds 4.1 3.7 3.9 3.5 3.5 3.7 3.8 3.9 3.8 7

 8 LM343064135 Corporate equities 19.8 15.9 18.8 16.8 15.1 15.9 16.4 16.7 16.3 8

 9 FL343073045 Claims of pension fund on sponsor (misc. assets) (4) 1550.9 390.6 1316.4 1063.6 782.6 390.6 455.3 434.2 409.7 9

 10 FL344190045 Pension entitlements (liabilities) (5) 3732.7 2804.1 3500.8 3266.9 3034.1 2804.1 2823.6 2842.8 2860.3 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) Comprised primarily of nonmarketable Treasury securities.

(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; amounts outstanding end of period, not seasonally adjusted

 1 FL344090055 Total financial assets 826.9 725.4 814.1 742.7 713.9 725.4 758.8 794.3 781.3 1

 2 LM344022025 Debt securities 322.7 322.5 347.4 349.4 344.2 322.5 53.3 325.6 323.6 2

 3 LM343061155 Treasury securities (2) 300.6 305.0 327.0 331.1 327.0 305.0 35.2 307.1 305.8 3

 4 LM343061723 Agency- and GSE-backed securities 11.2 9.0 10.5 9.8 9.3 9.0 9.2 9.4 9.2 4

 5 LM343063023 Corporate and foreign bonds 10.8 8.6 9.8 8.5 7.8 8.6 8.9 9.1 8.7 5

 6 FL313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 0.0 0.0 272.8 0.0 0.0 6

 7 LM343064125 Corporate equities 504.2 402.9 466.7 393.3 369.8 402.9 432.7 468.7 457.7 7

 8 FL344090055 Pension entitlements (liabilities) 826.9 725.4 814.1 742.7 713.9 725.4 758.8 794.3 781.3 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable Treasury securities held in the G fund and marketable Treasury securities held in the F fund.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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L.120 State and Local Government Employee Retirement Funds

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL224090005 Total financial assets (1) 9725.6 8852.0 9497.0 9250.4 9041.7 8852.0 8985.5 9131.9 9223.8 1

 2 FL223020043 Checkable deposits and currency 28.6 26.4 27.6 28.0 24.9 26.4 26.7 32.8 34.0 2

 3 FL223030043 Time and savings deposits 2.4 6.4 0.2 1.7 0.1 6.4 3.0 0.1 0.1 3

 4 FL223034005 Money market fund shares 26.3 22.5 24.4 22.4 20.6 22.5 23.7 19.3 18.3 4

 5 FL222051043 Security repurchase agreements 27.6 48.2 20.0 19.9 32.6 48.2 59.4 21.2 13.6 5

 6 LM224022045 Debt securities 1188.4 1035.1 1144.7 1085.9 1045.8 1035.1 1125.6 1122.1 1100.6 6

 7 FL223069143 Open market paper 20.4 11.3 23.2 22.8 16.0 11.3 12.4 14.2 12.0 7

 8 LM223061143 Treasury securities 411.3 323.4 379.9 352.2 315.8 323.4 361.7 383.1 379.7 8

 9 LM223061743 Agency- and GSE-backed securities 198.1 164.3 195.1 182.4 166.5 164.3 138.0 148.7 139.5 9

 10 LM223062043 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM223063045 Corporate and foreign bonds 558.5 536.1 546.5 528.6 547.4 536.1 613.5 576.1 569.3 11

 12 FL223065043 Loans (mortgages) 6.8 6.5 6.7 6.5 7.3 6.5 7.5 7.4 7.6 12

 13 LM223064145 Corporate equities 3345.9 2971.5 3236.8 2951.9 2798.0 2971.5 2940.5 3135.6 2982.1 13

 14 LM223064205 Mutual fund shares 297.5 230.0 281.9 244.3 229.7 230.0 274.7 229.8 212.7 14

 15 FL223090005 Miscellaneous assets 4802.3 4505.4 4754.6 4889.7 4882.9 4505.4 4524.4 4563.5 4854.7 15

 16 FL223095505 Unallocated insurance contracts (2) 274.1 278.1 275.5 272.8 273.3 278.1 282.8 285.6 286.0 16

 17 FL223073045 Claims of pension fund on sponsor (3) 3582.0 3208.3 3533.1 3635.6 3618.6 3208.3 3110.1 3103.0 3344.8 17

 18 FL223093005 Other 946.2 1019.0 946.0 981.4 991.0 1019.0 1131.6 1175.0 1223.9 18

 19 FL224190005 Pension entitlements (liabilities) (4) 9898.3 9067.9 9689.7 9461.0 9253.8 9067.9 9152.5 9236.1 9301.5 19

 Memo:

 Funded status of defined benefit plans:

 20 FL224190043 Pension entitlements 9416.1 8632.1 9220.1 9024.1 8828.1 8632.1 8703.7 8775.3 8847.0 20

 21 FL222000075 Funded by assets (5) 5834.1 5423.8 5687.0 5388.5 5209.5 5423.8 5593.7 5672.3 5502.2 21

 22 FL223073045 Unfunded (line 17) 3582.0 3208.3 3533.1 3635.6 3618.6 3208.3 3110.1 3103.0 3344.8 22

 Total financial assets

 23 FL224090045 Defined benefit plans (6) 9243.4 8416.2 9027.4 8813.5 8616.0 8416.2 8536.7 8671.1 8769.3 23

 24 FL224090055 Defined contribution plans (7) 482.3 435.8 469.6 436.9 425.7 435.8 448.8 460.8 454.5 24

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of projected 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 is available on table L.120.b.

(7) Additional detail on defined contribution plans is available on table L.120.c.
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Z.1, December 7, 2023 101

L.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL224090045 Total financial assets (1) 9243.4 8416.2 9027.4 8813.5 8616.0 8416.2 8536.7 8671.1 8769.3 1

 2 FL223020043 Checkable deposits and currency 28.6 26.4 27.6 28.0 24.9 26.4 26.7 32.8 34.0 2

 3 FL223030043 Time and savings deposits 2.4 6.4 0.2 1.7 0.1 6.4 3.0 0.1 0.1 3

 4 FL223034043 Money market fund shares 24.9 21.1 23.0 21.1 19.2 21.1 22.3 16.9 15.9 4

 5 FL222051043 Security repurchase agreements 27.6 48.2 20.0 19.9 32.6 48.2 59.4 21.2 13.6 5

 6 LM224022045 Debt securities 1188.4 1035.1 1144.7 1085.9 1045.8 1035.1 1125.6 1122.1 1100.6 6

 7 FL223069143 Open market paper 20.4 11.3 23.2 22.8 16.0 11.3 12.4 14.2 12.0 7

 8 LM223061143 Treasury securities 411.3 323.4 379.9 352.2 315.8 323.4 361.7 383.1 379.7 8

 9 LM223061743 Agency- and GSE-backed securities 198.1 164.3 195.1 182.4 166.5 164.3 138.0 148.7 139.5 9

 10 LM223062043 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM223063045 Corporate and foreign bonds 558.5 536.1 546.5 528.6 547.4 536.1 613.5 576.1 569.3 11

 12 FL223065043 Loans (mortgages) 6.8 6.5 6.7 6.5 7.3 6.5 7.5 7.4 7.6 12

 13 LM223064145 Corporate equities 3345.9 2971.5 3236.8 2951.9 2798.0 2971.5 2940.5 3135.6 2982.1 13

 14 LM223064243 Mutual fund shares 92.5 75.6 91.1 83.5 80.5 75.6 112.0 59.0 48.7 14

 15 FL223090045 Miscellaneous assets 4526.3 4225.4 4477.2 4615.1 4607.7 4225.4 4239.7 4276.0 4566.7 15

 16 FL223073045 Claims of pension fund on sponsor (2) 3582.0 3208.3 3533.1 3635.6 3618.6 3208.3 3110.1 3103.0 3344.8 16

 17 LM223093043 Other 944.4 1017.1 944.2 979.5 989.1 1017.1 1129.6 1173.0 1221.9 17

 18 FL224190043 Pension entitlements (liabilities) (3) 9416.1 8632.1 9220.1 9024.1 8828.1 8632.1 8703.7 8775.3 8847.0 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.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 FL224090055 Total financial assets 482.3 435.8 469.6 436.9 425.7 435.8 448.8 460.8 454.5 1

 2 FL223034055 Money market fund shares 1.4 1.4 1.4 1.4 1.4 1.4 1.4 2.4 2.5 2

 3 LM223064255 Mutual fund shares 205.0 154.4 190.8 160.9 149.2 154.4 162.7 170.8 164.0 3

 4 FL223090055 Miscellaneous assets 275.9 280.0 277.4 274.7 275.2 280.0 284.7 287.6 288.0 4

 5 FL223095505 Unallocated insurance contracts (misc. assets) (2) 274.1 278.1 275.5 272.8 273.3 278.1 282.8 285.6 286.0 5

 6 FL223093053 Other 1.8 1.9 1.8 1.9 1.9 1.9 2.0 2.0 2.0 6

 7 FL224090055 Pension entitlements (liabilities) 482.3 435.8 469.6 436.9 425.7 435.8 448.8 460.8 454.5 7

(1) Includes 403(b) and 457 type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
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L.121 Money Market Funds (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL634090005 Total financial assets 5205.5 5223.1 5090.7 5032.4 5084.2 5223.1 5692.6 5917.4 6143.0 1

 2 FL633091003 Foreign deposits 0.3 1.4 1.3 1.3 1.1 1.4 1.7 2.9 10.9 2

 3 FL633030000 Time and savings deposits 143.6 190.1 174.9 187.2 210.3 190.1 227.3 266.8 292.8 3

 4 FL632051000 Security repurchase agreements 2495.7 2976.6 2376.9 2595.9 2743.7 2976.6 3235.2 3233.1 2948.8 4

 5 FL634022005 Debt securities 2568.8 2022.0 2514.9 2224.6 2113.2 2022.0 2206.9 2392.5 2881.2 5

 6 FL633069175 Open market paper 226.2 253.8 233.0 221.1 245.4 253.8 250.5 263.2 293.4 6

 7 FL633061105 Treasury securities 1814.7 1064.0 1759.4 1459.0 1256.1 1064.0 1040.8 1244.0 1767.1 7

 8 FL633061700 Agency- and GSE-backed securities 409.9 579.8 403.4 423.5 492.2 579.8 791.9 754.5 690.2 8

 9 FL633062000 Municipal securities 110.9 117.9 113.4 117.3 113.2 117.9 114.4 121.0 121.5 9

 10 FL633063005 Corporate and foreign bonds 7.2 6.4 5.6 3.8 6.3 6.4 9.3 9.8 9.1 10

 11 FL633093005 Miscellaneous assets (net) -2.9 33.0 22.8 23.4 16.1 33.0 21.5 22.1 9.3 11

 12 FL634090005 Total shares outstanding (liabilities) 5205.5 5223.1 5090.7 5032.4 5084.2 5223.1 5692.6 5917.4 6143.0 12

 Memo:

 13 FL634090010 Stable NAV money market funds included above 4586.5 4589.4 4425.9 4385.3 4411.0 4589.4 5044.7 5263.6 5498.1 13

 14 FL634090020 Floating NAV money market funds included above (2) 619.0 633.6 664.8 647.2 673.3 633.6 647.9 653.7 644.9 14

 15 FL634090033 Government money market funds included above 4304.3 4064.1 4151.5 4071.2 4011.6 4064.1 4435.1 4596.8 4761.3 15

 16 FL634090043 Prime money market funds included above 807.0 1040.0 844.5 849.7 965.8 1040.0 1139.0 1198.3 1258.2 16

 17 FL634090053 Tax-exempt money market funds included above 94.2 119.0 94.7 111.5 106.8 119.0 118.5 122.3 123.5 17

 18 FL634090503 Variable annuity money market funds included above 35.2 43.4 38.9 41.8 42.5 43.4 42.8 43.5 44.3 18

(1) Open-end investment companies including variable annuity money market funds.

(2) Floating NAV data begin 2016:Q4, corresponding to the implementation of Securities and Exchange Commission money market reforms on October 14, 2016. Some funds used floating NAV

 prior to this date.

L.122 Mutual Funds (1)

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

 1 LM654090000 Total financial assets 22208.8 17333.4 20698.1 17759.6 16617.1 17333.4 18166.2 18850.5 18106.6 1

 2 FL653034003 Money market funds 267.4 225.7 298.8 261.2 261.3 225.7 229.9 228.4 219.3 2

 3 FL652051003 Security repurchase agreements (net) 19.7 25.9 11.9 25.1 26.8 25.9 34.9 40.4 38.8 3

 4 LM654022005 Debt securities 5897.6 4793.9 5561.1 5087.6 4810.7 4793.9 4931.1 4969.8 4805.0 4

 5 FL653069100 Open market paper 39.4 39.7 45.1 36.6 37.8 39.7 38.4 42.6 40.9 5

 6 LM653061105 Treasury securities 1594.0 1349.9 1528.3 1427.8 1345.8 1349.9 1370.8 1349.4 1306.1 6

 7 LM653061703 Agency- and GSE-backed securities 539.3 529.4 543.4 547.0 518.2 529.4 590.0 645.0 640.2 7

 8 LM653062003 Municipal securities 990.8 745.8 911.0 823.1 774.3 745.8 764.9 763.9 727.2 8

 9 LM653063005 Corporate and foreign bonds 2734.1 2129.2 2533.2 2253.1 2134.6 2129.2 2167.0 2168.8 2090.6 9

 10 FL653069803 Loans (other loans and advances) 144.2 125.4 164.8 154.2 140.2 125.4 115.2 107.7 109.7 10

 11 LM653064100 Corporate equities 15533.8 11867.0 14328.6 11894.4 11077.4 11867.0 12537.1 13229.7 12665.0 11

 12 FL653093005 Miscellaneous assets 346.1 295.5 332.9 337.0 300.9 295.5 317.9 274.6 268.6 12

 13 LM654090000 Total shares outstanding (liabilities) 22208.8 17333.4 20698.1 17759.6 16617.1 17333.4 18166.2 18850.5 18106.6 13

 Memo:

 14 LM654090500 Variable annuity mutual funds included above 2107.7 1617.8 1937.8 1646.0 1539.6 1617.8 1678.0 1734.0 1643.3 14

 Total financial assets by investment objective:

 15 LM654091600 Domestic equity funds 11257.9 8725.3 10500.9 8705.9 8248.4 8725.3 9219.4 9806.1 9379.2 15

 16 LM654092603 World equity funds 3460.3 2631.7 3155.9 2670.7 2403.8 2631.7 2807.3 2880.0 2737.0 16

 17 LM654091403 Hybrid funds 1808.0 1487.9 1732.2 1538.7 1434.5 1487.9 1512.9 1531.3 1462.5 17

 18 LM654091303 Taxable bond funds 4648.3 3755.7 4362.0 3995.7 3777.3 3755.7 3870.5 3879.1 3805.4 18

 19 LM654091203 Municipal bond funds 977.1 736.5 891.3 799.6 756.5 736.5 759.4 756.8 722.5 19

(1) Open-end investment companies including variable annuity mutual funds.
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L.123 Closed-End Funds

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM554090005 Total financial assets 310.0 252.1 289.1 259.2 243.3 252.1 252.2 253.1 243.0 1

 2 LM554022005 Debt securities 186.6 153.1 173.4 159.0 150.1 153.1 153.6 151.9 147.3 2

 3 LM553061103 Treasury securities 3.1 2.4 2.9 3.5 2.4 2.4 2.4 2.3 2.2 3

 4 LM553062003 Municipal securities 98.3 82.4 90.0 85.8 80.5 82.4 83.8 82.5 79.3 4

 5 LM553063003 Corporate and foreign bonds 85.3 68.4 80.5 69.7 67.2 68.4 67.5 67.1 65.8 5

 6 LM553064103 Corporate equities 123.4 99.0 115.7 100.2 93.3 99.0 98.6 101.2 95.7 6

 7 LM554090005 Total shares outstanding (liabilities) 310.0 252.1 289.1 259.2 243.3 252.1 252.2 253.1 243.0 7

 Memo:

 Total financial assets by investment objective:

 8 LM554091603 Domestic equity funds 90.5 74.8 86.7 75.3 70.6 74.8 73.9 75.6 71.6 8

 9 LM554092603 World equity funds 32.8 24.2 29.0 24.9 22.7 24.2 24.7 25.7 24.1 9

 10 LM554091303 Domestic taxable bond funds 64.5 52.0 61.3 53.7 51.1 52.0 51.2 50.8 49.8 10

 11 LM554091203 Municipal bond funds 98.3 82.4 90.0 85.8 80.5 82.4 83.8 82.5 79.3 11

 12 LM554092303 World bond funds 23.8 18.7 22.1 19.5 18.5 18.7 18.6 18.6 18.2 12

L.124 Exchange-Traded Funds

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

 1 LM564090005 Total financial assets 7190.5 6476.9 7014.5 6156.5 5892.0 6476.9 6882.6 7299.5 7134.3 1

 2 FL563034003 Money market funds 38.7 27.1 34.8 29.0 32.7 27.1 32.1 31.0 30.4 2

 3 LM564022005 Debt securities 1215.3 1258.7 1180.5 1173.3 1177.2 1258.7 1336.9 1371.7 1366.3 3

 4 LM563061103 Treasury securities 332.1 400.6 336.3 362.6 381.5 400.6 451.6 460.6 468.6 4

 5 LM563062003 Municipal securities 83.3 104.4 83.0 89.9 87.0 104.4 105.7 107.5 107.9 5

 6 LM563063003 Corporate and foreign bonds 800.0 753.6 761.2 720.8 708.8 753.6 779.6 803.5 789.7 6

 7 LM563064100 Corporate equities 5803.3 5059.2 5633.7 4802.4 4552.1 5059.2 5376.3 5765.9 5613.7 7

 8 LM563093003 Miscellaneous assets (1) 133.2 131.9 165.5 151.8 130.0 131.9 137.3 131.0 124.0 8

 9 LM564090005 Total shares outstanding (liabilities) 7190.5 6476.9 7014.5 6156.5 5892.0 6476.9 6882.6 7299.5 7134.3 9

 Memo:

 Total financial assets by investment objective:

 10 LM564091600 Domestic equity funds 4519.2 3940.4 4391.4 3723.0 3582.7 3940.4 4158.4 4514.8 4406.3 10

 11 LM564092603 World equity funds 1262.3 1105.6 1222.9 1062.9 957.3 1105.6 1204.7 1240.1 1196.4 11

 12 LM564091703 Commodity funds (1) 138.8 137.4 172.4 158.2 135.4 137.4 143.0 136.4 129.1 12

 13 LM564091403 Hybrid funds 42.4 30.6 38.4 33.6 32.0 30.6 30.7 31.4 31.1 13

 14 LM564091303 Taxable bond funds 1143.1 1157.4 1105.1 1087.8 1096.4 1157.4 1238.8 1268.2 1262.4 14

 15 LM564091203 Municipal bond funds 84.7 105.5 84.3 91.0 88.2 105.5 107.1 108.5 109.0 15

(1) Investments primarily in commodities, currencies, and futures.
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L.125 Government-Sponsored Enterprises (GSEs) (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL404090005 Total financial assets 8292.2 9187.9 8517.6 8765.5 8982.8 9187.9 9539.7 9409.1 9344.1 1

 2 FL403020005 Checkable deposits and currency 62.6 69.1 52.5 54.3 44.7 69.1 73.7 63.4 60.6 2

 3 FL403030005 Time and savings deposits 6.6 22.9 7.5 10.3 13.5 22.9 25.1 30.0 28.1 3

 4 FL402050005 Federal funds and security repos 209.7 252.2 218.2 277.3 304.5 252.2 363.1 376.6 304.1 4

 5 LM404022005 Debt securities 430.2 395.6 432.8 404.5 398.9 395.6 407.9 421.6 427.2 5

 6 FL403069105 Open market paper 4.7 10.2 6.4 7.9 9.8 10.2 9.3 10.0 11.0 6

 7 LM403061105 Treasury securities 202.4 155.6 210.4 180.6 168.3 155.6 149.8 151.5 150.9 7

 8 LM403061705 Agency- and GSE-backed securities 208.4 215.1 201.5 201.6 206.2 215.1 233.5 244.1 248.8 8

 9 LM403062005 Municipal securities 2.4 2.2 2.4 2.2 2.2 2.2 2.2 2.1 2.1 9

 10 LM403063005 Corporate and foreign bonds 12.3 12.6 12.1 12.2 12.4 12.6 13.2 13.9 14.5 10

 11 FL404023005 Loans 7423.9 8326.2 7661.2 7898.3 8107.6 8326.2 8551.4 8399.3 8399.2 11

 12 FL403069305 Other loans and advances 499.9 1002.7 551.0 692.3 833.4 1002.7 1229.5 1043.1 998.4 12

 13 FL403069385 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL403069345 Farm Credit System 164.4 182.3 177.9 172.0 172.6 182.3 187.4 188.1 193.1 14

 15 FL403069330 FHLB 335.4 820.4 373.1 520.3 660.8 820.4 1042.1 855.0 805.4 15

 16 FL403065005 Mortgages 6924.1 7323.6 7110.2 7206.0 7274.2 7323.6 7321.9 7356.2 7400.8 16

 17 FL403065105 One-to-four-family residential 6312.7 6660.6 6490.5 6579.5 6639.5 6660.6 6652.1 6671.3 6699.4 17

 18 FL403065195 Consolidated trusts (2) 6136.1 6497.7 6316.6 6406.8 6477.5 6497.7 6494.0 6514.7 6539.8 18

 19 FL403065185 Other 176.6 162.9 173.9 172.7 162.0 162.9 158.1 156.6 159.6 19

 20 FL403065405 Multifamily residential 445.0 489.4 451.5 456.2 462.9 489.4 493.9 506.3 520.2 20

 21 FL403065495 Consolidated trusts (2) 421.0 461.2 430.6 439.0 445.5 461.2 470.5 483.7 497.8 21

 22 FL403065485 Other 23.9 28.2 20.8 17.2 17.4 28.2 23.5 22.5 22.4 22

 23 FL403065605 Farm 166.4 173.6 168.2 170.2 171.8 173.6 176.0 178.7 181.2 23

 24 FL403066005 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FL403093005 Miscellaneous assets 159.2 121.7 145.5 120.9 113.6 121.7 118.6 118.3 125.0 25

 26 FL404190005 Total liabilities 8250.5 9057.7 8447.5 8667.6 8869.0 9057.7 9389.6 9280.7 9201.4 26

 27 FL402150005 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FL403161705 Debt securities (GSE issues) (3) 8177.6 8970.8 8372.6 8591.9 8785.7 8970.8 9303.7 9189.4 9098.3 28

 29 FL403161795 Consolidated trusts (2) 6557.1 6958.9 6747.2 6845.8 6923.0 6958.9 6964.4 6998.4 7037.6 29

 30 FL403161785 Other 1620.4 2011.9 1625.4 1746.1 1862.7 2011.9 2339.3 2191.0 2060.7 30

 31 FL403169283 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FL403190005 Miscellaneous liabilities 72.9 86.9 74.9 75.7 83.3 86.9 85.9 91.3 103.1 32

 Memo:

 33 FL403192405 Equity in GSEs 40.9 60.8 42.3 48.5 54.3 60.8 72.4 67.1 65.0 33

(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 (L.126) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets (L.125).

(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) Such issues are classified as agency- and GSE-backed securities.

L.126 Agency- and GSE-Backed Mortgage Pools (1)

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

 1 FL413065005 Total financial assets 2501.8 2687.9 2534.8 2583.9 2637.4 2687.9 2717.9 2765.0 2784.4 1

 2 FL413065105 One-to-four-family residential mortgages 2044.4 2222.6 2074.3 2120.2 2172.9 2222.6 2253.4 2298.9 2316.7 2

 3 FL413065405 Multifamily residential mortgages 456.2 464.1 459.2 462.4 463.2 464.1 463.3 464.3 466.0 3

 4 FL413065505 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL413065605 Farm mortgages 1.3 1.2 1.2 1.2 1.2 1.2 1.2 1.8 1.8 5

 6 FL413065005 Total pool securities (liabilities) (2) 2501.8 2687.9 2534.8 2583.9 2637.4 2687.9 2717.9 2765.0 2784.4 6

(1) Ginnie Mae, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (L.126) are consolidated

 on Fannie Mae’s and Freddie Mac’s balance sheets (table L.125). 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 and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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L.127 Issuers of Asset-Backed Securities (ABS)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL674090005 Total financial assets 1388.3 1468.6 1426.0 1454.5 1471.7 1468.6 1483.0 1486.5 1498.0 1

 2 FL674022005 Debt securities 31.9 36.4 34.5 35.7 36.3 36.4 36.4 34.5 33.2 2

 3 FL673061103 Treasury securities 31.9 36.4 34.5 35.7 36.3 36.4 36.4 34.5 33.2 3

 4 FL673061703 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL674023005 Loans 1162.8 1216.6 1185.4 1209.5 1225.6 1216.6 1231.1 1232.2 1240.2 5

 6 FL673069005 Other loans and advances (2) 272.3 313.6 281.0 294.7 307.1 313.6 315.7 316.7 312.2 6

 7 FL673065005 Mortgages (3) 889.2 900.0 903.1 913.4 916.2 900.0 912.3 912.6 924.4 7

 8 FL673065105 One-to-four-family residential 412.2 423.9 418.9 424.1 427.6 423.9 427.3 429.0 431.9 8

 9 FL673065405 Multifamily residential 64.0 58.6 70.6 66.9 66.7 58.6 65.6 65.3 66.9 9

 10 FL673065505 Commercial 413.0 417.5 413.6 422.4 421.9 417.5 419.4 418.3 425.6 10

 11 FL673066000 Consumer credit 1.4 3.0 1.3 1.5 2.3 3.0 3.0 3.0 3.6 11

 12 FL673070003 Trade credit 38.2 41.9 36.2 37.2 38.6 41.9 39.8 41.4 42.3 12

 13 FL673090543 Miscellaneous assets (funding agreements) (4) 155.4 173.7 169.9 172.0 171.3 173.7 175.8 178.3 182.3 13

 14 FL674122005 Total liabilities 1388.3 1468.6 1426.0 1454.5 1471.7 1468.6 1483.0 1486.5 1498.0 14

 15 FL674122005 Debt securities 1388.3 1468.6 1426.0 1454.5 1471.7 1468.6 1483.0 1486.5 1498.0 15

 16 FL673169105 Commercial paper 131.9 197.0 174.1 197.7 200.0 197.0 187.0 188.7 175.9 16

 17 FL673163005 Corporate bonds (net) (5) 1256.4 1271.6 1251.9 1256.7 1271.7 1271.6 1295.9 1297.7 1322.1 17

 Memo:

 Securitized assets not included above

 18 FL675013263 Consumer leases (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FL643065045 Mortgage REIT assets (7) 158.1 160.4 164.1 167.1 163.5 160.4 160.1 155.4 151.3 19

 Securitized liabilities not included above

 20 FL763169103 Commercial paper (8) 120.1 196.0 138.3 160.2 163.2 196.0 177.7 193.3 207.8 20

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Includes loans backing domestically-issued collateralized loan obligation (CLO) securities; loans backing U.S. CLO securities issued outside the U.S. are shown in line 15 of table L.133.

(3) Mortgages backing privately issued pool securities and privately issued CMOs.

(4) Funding agreements with life insurance companies.

(5) Liabilities net of assets.

(6) Receivables from operating leases, such as consumer automobile leases, are recorded as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(7) Included on table L.129.

(8) Included on table L.111 line 47.
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L.128 Finance Companies (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL614090005 Total financial assets 2471.0 2413.6 2394.5 2333.3 2304.4 2413.6 2447.8 2520.7 2547.0 1

 2 FL613020003 Checkable deposits and currency 20.9 11.2 13.4 12.7 10.1 11.2 12.0 12.9 13.9 2

 3 FL613030003 Time and savings deposits 62.6 33.6 40.0 38.0 30.3 33.6 36.0 38.7 41.7 3

 4 LM613063003 Debt securities (corporate and foreign bonds) 68.3 52.0 59.0 50.9 47.9 52.0 40.9 38.3 38.2 4

 5 FL614023005 Loans 1571.2 1607.6 1568.4 1577.6 1582.1 1607.6 1608.2 1654.3 1676.9 5

 6 FL613069505 Other loans and advances 523.6 583.8 531.0 549.1 560.2 583.8 584.0 611.4 626.1 6

 7 FL613065000 Mortgages 352.6 341.1 349.6 346.4 342.2 341.1 338.2 336.4 332.1 7

 8 FL613066005 Consumer credit 695.1 682.7 687.8 682.2 679.6 682.7 686.0 706.5 718.7 8

 9 LM613092305 U.S. direct investment abroad: intercompany debt -1.7 -3.7 -3.7 -2.3 -3.9 -3.7 -1.3 -3.5 -1.5 9

 10 LM613092103 U.S. direct investment abroad: equity 454.8 408.8 435.4 371.0 348.4 408.8 447.2 465.2 452.6 10

 11 FL613092403 Equity in FHLB 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL613090005 Miscellaneous assets 294.8 304.0 282.0 285.5 289.5 304.0 304.8 314.8 325.4 12

 13 FL614190005 Total liabilities 1901.2 1868.2 1839.7 1859.8 1828.4 1868.2 1873.9 1922.2 1969.7 13

 14 FL614122005 Debt securities 1085.3 1062.4 1068.2 1058.6 1037.0 1062.4 1068.5 1103.0 1109.6 14

 15 FL613169100 Open market paper 57.4 66.3 51.7 53.0 57.2 66.3 60.9 68.5 69.8 15

 16 FL613163005 Corporate bonds 1028.0 996.1 1016.5 1005.6 979.8 996.1 1007.7 1034.5 1039.8 16

 17 FL614123005 Loans 299.4 241.3 252.7 238.4 237.0 241.3 228.6 237.7 235.7 17

 18 FL613168005 Depository institution loans n.e.c. 299.3 241.2 252.6 238.3 236.9 241.2 228.5 237.6 235.6 18

 19 FL613169005 Other loans and advances 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 19

 20 LM613192305 Foreign direct investment: intercompany debt 7.3 7.3 7.3 7.1 7.4 7.3 6.9 6.6 6.4 20

 21 FL613178005 Taxes payable 14.9 16.7 15.2 16.2 16.0 16.7 16.4 16.5 17.1 21

 22 FL613190005 Miscellaneous liabilities 494.3 540.6 496.3 539.4 531.0 540.6 553.4 558.4 600.9 22

 23 FL613194703 Other investment by parent 167.3 158.9 162.5 171.4 167.1 158.9 177.1 161.4 188.6 23

 24 FL613193005 Other 326.9 381.7 333.8 367.9 363.8 381.7 376.2 397.0 412.3 24

 Memo:

 25 LM613192103 Foreign direct investment: equity 198.2 148.5 186.8 152.9 143.3 148.5 153.0 164.0 156.5 25

 26 FL613066303 Consumer leases not included above (2) 239.4 202.6 230.4 220.8 211.0 202.6 197.8 196.2 195.8 26

(1) Includes retail captive finance companies and mortgage companies.

(2) Receivables from operating leases, such as consumer automobile leases, are recorded 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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L.129 Mortgage Real Estate Investment Trusts (Mortgage REITs) (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL644090075 Total financial assets 532.9 523.8 531.9 526.5 536.3 523.8 547.6 537.6 545.4 1

 2 FL643020073 Checkable deposits and currency 16.6 15.9 16.4 15.8 17.5 15.9 17.5 15.7 15.6 2

 3 LM644022075 Debt securities 180.4 159.0 169.3 157.0 166.0 159.0 181.3 181.8 191.1 3

 4 LM643061773 Agency- and GSE-backed securities 168.4 149.1 157.5 147.2 155.8 149.1 171.5 172.2 181.0 4

 5 LM643063073 Corporate and foreign bonds 11.9 9.9 11.8 9.8 10.2 9.9 9.8 9.6 10.1 5

 6 FL643065075 Loans (mortgages) 287.7 296.5 290.9 298.7 293.3 296.5 294.5 285.2 280.4 6

 7 FL643065173 One-to-four-family residential 79.1 78.0 77.5 77.9 76.5 78.0 79.3 78.3 79.7 7

 8 FL643065473 Multifamily residential 13.5 15.3 15.3 15.7 15.8 15.3 15.0 14.5 14.2 8

 9 FL643065573 Commercial 195.1 203.2 198.1 205.2 201.0 203.2 200.2 192.3 186.5 9

 10 FL643092473 Equity in FHLB 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FL643093075 Miscellaneous assets 48.2 52.3 55.3 55.0 59.5 52.3 54.3 54.8 58.3 11

 12 FL644190075 Total liabilities 444.4 441.4 445.6 442.6 455.0 441.4 464.6 454.5 464.7 12

 13 FL642151073 Security repurchase agreements 220.1 201.5 210.1 204.3 207.0 201.5 222.1 214.6 229.7 13

 14 FL644122075 Debt securities 203.8 216.7 209.5 213.8 210.6 216.7 216.5 211.8 208.9 14

 15 FL643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL643163075 Corporate bonds 203.8 216.7 209.5 213.8 210.6 216.7 216.5 211.8 208.9 16

 17 FL644123075 Loans 3.4 3.8 3.1 3.7 4.3 3.8 4.9 4.9 5.0 17

 18 FL643168073 Depository institution loans n.e.c. 3.1 3.6 2.8 3.5 4.1 3.6 4.7 4.8 4.9 18

 19 FL643169373 Other loans and advances 0.3 0.2 0.3 0.3 0.2 0.2 0.2 0.2 0.1 19

 20 FL643193075 Miscellaneous liabilities 17.1 19.4 22.9 20.8 33.1 19.4 21.1 23.2 21.0 20

 Memo:

 21 FL643065045 Securitized assets included above 158.1 160.4 164.1 167.1 163.5 160.4 160.1 155.4 151.3 21

 22 FL643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL643065163 One-to-four-family residential mortgages 35.1 41.3 38.9 40.6 41.2 41.3 43.6 44.3 44.3 23

 24 FL643065443 Multifamily residential mortgages 7.7 9.4 9.2 9.4 9.6 9.4 9.3 8.9 8.4 24

 25 FL643065543 Commercial mortgages 115.3 109.7 116.1 117.1 112.8 109.7 107.2 102.2 98.6 25

(1) Equity REITs which invest primarily in real estate are included in the nonfinancial corporate business sector F.103 and L.103.
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L.130 Security Brokers and Dealers

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL664090005 Total financial assets 4380.3 4373.1 4572.7 4432.5 4424.2 4373.1 4803.8 4809.2 4757.1 1

 2 FL663020003 Checkable deposits and currency 140.7 148.8 146.6 150.1 153.2 148.8 132.7 136.8 130.1 2

 3 FL662051003 Security repurchase agreements 1255.4 1461.5 1324.4 1345.5 1330.5 1461.5 1660.6 1637.9 1604.2 3

 4 LM664022005 Debt securities 196.6 311.4 139.0 175.5 246.4 311.4 420.5 405.0 435.4 4

 5 FL663069103 Open market paper 16.3 19.0 22.2 15.6 23.4 19.0 28.3 29.0 24.7 5

 6 LM663061105 Treasury securities 99.0 170.7 83.4 89.5 127.0 170.7 265.9 257.9 248.1 6

 7 LM663061705 Agency- and GSE-backed securities 53.8 108.6 21.1 58.1 68.2 108.6 110.0 86.5 120.6 7

 8 LM663062003 Municipal securities 12.7 12.0 11.0 10.1 14.8 12.0 11.0 15.5 15.0 8

 9 LM663063005 Corporate and foreign bonds 14.8 1.1 1.2 2.0 13.0 1.1 5.5 16.0 26.9 9

 10 FL663069005 Loans (other loans and advances) 840.0 661.5 855.5 821.2 806.8 661.5 643.7 638.4 635.4 10

 11 LM663092305 U.S. direct investment abroad: intercompany debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 LM663064103 Corporate equities 233.9 170.3 236.9 177.6 192.2 170.3 235.3 276.0 251.3 12

 13 LM663092103 U.S. direct investment abroad: equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL663090005 Miscellaneous assets 1713.7 1619.6 1870.2 1762.7 1695.1 1619.6 1711.0 1715.0 1700.6 14

 15 FL663070605 Receivables due from other brokers and dealers 1342.7 1296.5 1497.0 1423.8 1336.5 1296.5 1369.5 1363.9 1330.1 15

 16 FL663094705 Balances due from holding company parent 290.5 396.8 323.8 353.3 389.3 396.8 397.4 405.6 400.7 16

 17 FL663093005 Other 80.6 -73.8 49.4 -14.4 -30.7 -73.8 -55.9 -54.5 -30.2 17

 18 FL664190005 Total liabilities 4083.5 4082.9 4294.4 4156.4 4143.8 4082.9 4501.5 4504.4 4449.7 18

 19 FL662151003 Security repurchase agreements 1570.4 1626.1 1523.6 1533.6 1613.4 1626.1 2018.5 2054.4 2067.3 19

 20 FL663163003 Debt securities (corporate bonds) 217.7 236.1 260.8 249.2 223.6 236.1 229.3 211.2 221.0 20

 21 FL664123005 Loans 1182.1 1138.7 1311.7 1264.6 1202.8 1138.7 1102.6 1088.1 1036.8 21

 22 FL663168005 Depository institution loans n.e.c. 171.3 180.6 168.3 177.2 177.8 180.6 176.9 162.7 172.4 22

 23 FL663167005 Other loans and advances 1010.8 958.1 1143.4 1087.4 1025.0 958.1 925.7 925.4 864.4 23

 24 LM663192305 Foreign direct investment: intercompany debt 15.6 14.5 15.2 14.2 13.9 14.5 14.3 14.5 14.5 24

 25 FL663170003 Trade payables 22.4 20.0 21.9 19.3 19.6 20.0 19.1 22.8 21.4 25

 26 FL663178003 Taxes payable 6.8 3.9 6.4 6.9 6.7 3.9 4.4 5.0 5.3 26

 27 FL663190005 Miscellaneous liabilities 1068.5 1043.6 1154.7 1068.5 1063.7 1043.6 1113.3 1108.3 1083.5 27

 28 FL663170605 Payables due to other brokers and dealers 656.9 624.2 728.8 660.9 643.2 624.2 670.1 668.0 644.7 28

 29 FL663194705 Other investment by parent companies 711.9 660.0 756.7 710.1 685.6 660.0 679.1 676.9 691.5 29

 30 FL663193005 Other -300.4 -240.6 -330.8 -302.5 -265.0 -240.6 -235.9 -236.6 -252.7 30

 Memo:

 31 LM663192103 Foreign direct investment: equity 422.6 296.9 388.6 304.4 268.6 296.9 318.9 359.0 342.1 31

 32 LM662090003 Equity in noncorporate business 106.1 109.8 94.9 93.9 97.5 109.8 117.8 120.1 121.0 32

 33 FL663194605 Equity investment by holding company parents 195.8 326.5 218.0 296.2 355.2 326.5 291.9 264.4 250.2 33

 34 FL663194505 Equity investment by other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34
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Z.1, December 7, 2023 109

L.131 Holding Companies (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL734090005 Total financial assets 4797.2 4754.2 4755.5 4691.8 4671.9 4754.2 4841.3 4850.1 4832.2 1

 2 FL733091003 Foreign deposits 19.2 10.4 22.0 7.9 12.3 10.4 12.8 13.4 16.0 2

 3 FL733030005 Time and savings deposits 397.5 475.8 364.2 404.5 424.2 475.8 487.0 466.8 434.9 3

 4 FL732051003 Security repurchase agreements 26.1 36.6 17.8 23.8 29.2 36.6 36.0 35.9 35.3 4

 5 LM734022605 Debt securities 146.4 181.4 148.9 166.4 176.4 181.4 168.2 165.9 173.7 5

 6 LM733061103 Treasury securities 92.6 133.3 99.8 120.6 130.6 133.3 122.6 121.7 126.4 6

 7 LM733061703 Agency- and GSE-backed securities 24.7 19.2 22.4 21.2 19.6 19.2 19.0 18.6 18.3 7

 8 LM733063003 Corporate and foreign bonds 29.2 28.9 26.7 24.7 26.2 28.9 26.5 25.6 29.1 8

 9 FL733069005 Loans (other loans and advances) 130.2 151.2 150.5 145.5 150.4 151.2 145.2 150.4 145.8 9

 10 LM733092305 U.S. direct investment abroad: intercompany debt -1.9 -3.4 -4.0 -2.4 -3.8 -3.4 -1.2 -3.4 1.0 10

 11 LM733092103 U.S. direct investment abroad: equity 503.4 379.7 467.6 389.8 344.1 379.7 422.9 442.2 441.0 11

 12 FL733094635 Equity investment in affiliates 2442.9 2434.9 2400.4 2415.1 2423.0 2434.9 2462.4 2443.9 2423.0 12

 13 FL733040005 Life insurance reserves 73.0 77.0 74.0 75.0 76.0 77.0 78.0 79.0 80.0 13

 14 FL733090005 Miscellaneous assets 1060.3 1010.6 1114.2 1066.2 1040.1 1010.6 1029.8 1055.8 1081.5 14

 15 FL733094735 Other investment in affiliates 1020.8 970.5 1070.6 1024.5 994.5 970.5 991.4 1019.4 1041.5 15

 16 FL733093005 Other 39.5 40.2 43.6 41.7 45.6 40.2 38.4 36.4 40.0 16

 17 FL734190005 Total liabilities 2130.1 2248.7 2162.6 2174.2 2191.0 2248.7 2265.4 2268.3 2258.0 17

 18 FL732151003 Security repurchase agreements 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.1 18

 19 FL734122005 Debt securities 1544.9 1541.8 1531.1 1516.6 1472.6 1541.8 1548.0 1541.2 1484.3 19

 20 FL733169103 Commercial paper 8.1 9.5 7.5 8.8 9.2 9.5 9.0 12.4 11.0 20

 21 FL733163005 Corporate bonds 1536.8 1532.2 1523.6 1507.8 1463.4 1532.2 1539.0 1528.8 1473.3 21

 22 LM733192305 Foreign direct investment: intercompany debt (2) 105.8 70.2 101.7 91.7 83.2 70.2 70.7 71.2 76.5 22

 23 FL733178013 Taxes payable 2.8 2.5 2.8 2.5 2.5 2.5 2.5 1.9 1.9 23

 24 FL733190005 Miscellaneous liabilities 476.5 634.3 526.9 563.3 632.6 634.3 644.2 654.0 695.2 24

 25 FL733194735 Balances due to affiliates 473.7 587.7 524.7 550.0 606.5 587.7 602.8 609.9 646.9 25

 26 FL733193005 Other 2.7 46.6 2.2 13.3 26.1 46.6 41.4 44.1 48.3 26

 Memo:

 27 LM733192103 Foreign direct investment: equity (2) 87.0 95.5 84.9 84.0 91.9 95.5 98.7 92.8 87.6 27

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.

(2) Investment in U.S. Intermediate Holding Companies.
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110 Z.1, December 7, 2023

L.132 Other Financial Business (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL504090005 Total financial assets 1356.9 1269.8 1405.5 1336.4 1256.9 1269.8 1304.0 1280.2 1337.8 1

 2 FL503020005 Checkable deposits and currency 239.6 217.2 259.1 239.9 223.5 217.2 213.4 188.4 164.5 2

 3 FL503034005 Money market fund shares 598.2 397.2 522.6 461.3 419.5 397.2 450.2 468.2 513.8 3

 4 FL502051005 Security repurchase agreements 3.6 3.9 3.9 4.6 4.4 3.9 5.0 4.3 5.1 4

 5 FL504022005 Debt securities 320.1 467.5 386.2 453.3 419.6 467.5 437.6 415.2 422.8 5

 6 FL503069105 Open market paper 181.5 338.9 243.1 318.4 288.1 338.9 300.8 269.4 281.3 6

 7 FL503061105 Treasury securities 63.6 56.1 61.0 53.4 56.9 56.1 61.6 70.9 67.7 7

 8 FL503063005 Corporate and foreign bonds 70.9 69.6 79.2 78.6 71.7 69.6 72.3 71.9 70.9 8

 9 FL503062003 Municipal securities 4.1 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 9

 10 FL503069005 Loans (other loans and advances) 84.5 72.6 98.8 69.2 69.7 72.6 78.5 88.0 91.6 10

 11 FL503064105 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL503094505 Equity investment in affiliates 108.5 109.4 132.2 105.6 116.6 109.4 117.1 114.2 137.5 12

 13 FL503093023 Miscellaneous assets 2.4 2.1 2.6 2.4 3.7 2.1 2.2 1.9 2.5 13

 14 FL504190005 Total liabilities 1335.6 1254.4 1384.2 1318.5 1239.0 1254.4 1288.6 1266.8 1323.7 14

 15 FL504122005 Debt securities 120.6 117.4 158.4 135.9 125.6 117.4 138.3 123.3 149.8 15

 16 FL503169105 Open market paper 120.6 117.4 158.4 135.9 125.6 117.4 138.3 123.3 149.8 16

 17 FL503163003 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL504123005 Loans 298.7 262.9 310.5 286.1 273.6 262.9 264.7 250.0 222.8 18

 19 FL713068505 Depository institution loans n.e.c. 21.0 15.3 18.8 17.7 16.6 15.3 14.4 13.3 12.0 19

 20 FL503169005 Other loans and advances 277.7 247.7 291.7 268.5 257.0 247.7 250.3 236.7 210.8 20

 21 FL503192305 Foreign direct investment: intercompany debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL503190005 Miscellaneous liabilities 916.3 874.1 915.3 896.4 839.8 874.1 885.6 893.6 951.0 22

 23 FL663070675 Securities lending (net) 685.8 672.4 768.3 762.9 693.4 672.4 699.5 695.9 685.4 23

 24 FL503193005 Other 230.6 201.7 147.1 133.5 146.5 201.7 186.2 197.7 265.6 24

 Memo:

 25 LM503192103 Foreign direct investment: equity 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 LM503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FL503194205 Equity in Federal Reserve facilities (2) 21.3 15.4 21.3 17.9 17.9 15.4 15.4 13.4 14.1 27

(1) Includes funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, funds associated with the Public-Private Investment Program (PPIP), Federal Reserve

 funding, credit, and liquidity facility special purpose vehicles (SPV) created in response to the 2008 Financial Crisis and COVID-19 pandemic, and U.S. central clearing parties.

(2) U.S. Treasury Exchange Stabilization Fund Economic Recovery Programs investment in Federal Reserve SPVs.
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Z.1, December 7, 2023 111

L.133 Rest of the World

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL264090005 Total financial assets 47994.8 41472.6 46153.5 41330.9 39894.8 41472.6 43578.4 45369.9 44531.2 1

 2 LM313111303 SDR allocations 160.8 152.9 158.8 152.5 147.0 152.9 154.5 152.8 151.0 2

 3 FL264016005 Net interbank assets 223.4 416.4 298.9 298.7 386.4 416.4 546.8 478.6 465.2 3

 4 FL263020005 U.S. checkable deposits and currency 1209.5 1223.1 1238.9 1221.8 1225.3 1223.1 1230.4 1243.0 1231.2 4

 5 FL263030005 U.S. time deposits 693.7 681.0 745.7 713.8 717.8 681.0 671.6 674.4 661.7 5

 6 FL263034003 Money market fund shares 164.5 183.8 170.8 177.0 178.9 183.8 200.3 208.2 216.1 6

 7 FL262051005 Security repurchase agreements 1367.4 1416.2 1327.7 1361.6 1403.0 1416.2 1529.6 1450.6 1645.4 7

 8 LM264022005 Debt securities 13651.6 12603.1 13230.9 12664.1 12293.5 12603.1 12951.3 13037.0 12823.3 8

 9 LM263069103 Open market paper 138.3 191.3 173.9 133.6 176.2 191.3 176.5 200.0 169.6 9

 10 LM263061105 Treasury securities 7740.4 7318.5 7604.4 7416.9 7251.5 7318.5 7558.1 7562.9 7516.0 10

 11 LM263061705 Agency- and GSE-backed securities 1252.6 1260.6 1172.9 1204.7 1178.4 1260.6 1294.8 1281.4 1256.4 11

 12 LM263062003 Municipal securities 118.7 108.4 113.3 108.5 104.8 108.4 111.5 112.3 101.1 12

 13 LM263063005 U.S. corporate bonds 4401.6 3724.3 4166.4 3800.3 3582.6 3724.3 3810.4 3880.2 3780.2 13

 14 FL263069005 Other loans and advances 1037.2 1130.5 1083.1 1089.7 1082.6 1130.5 1127.9 1126.6 1125.6 14

 15 FL263069563 Of which: loans held by CLOs (1) 644.5 684.3 662.1 670.2 680.6 684.3 686.1 685.1 679.3 15

 16 LM263092305 Foreign direct investment in U.S.: intercompany debt (2) 484.6 513.2 487.0 483.9 507.2 513.2 504.2 494.0 487.2 16

 17 LM263064105 U.S. corporate equities 13898.3 10831.5 12993.3 10908.1 10311.3 10831.5 11500.4 12394.3 11926.6 17

 18 LM263092101 Foreign direct investment in U.S.: equity (2) 13163.1 10477.3 12454.3 10367.9 9780.2 10477.3 11258.7 12192.8 11832.4 18

 19 LM263064203 Mutual fund shares 1187.9 1038.9 1183.2 1100.8 1042.7 1038.9 1072.1 1077.9 1072.8 19

 20 FL543141905 Life insurance reserves 0.2 0.3 0.2 0.2 0.3 0.3 0.3 0.3 0.3 20

 21 FL543151905 Pension entitlements 0.7 1.3 0.9 1.0 1.1 1.3 1.3 1.3 1.3 21

 22 LM263070005 Trade receivables 511.1 555.1 519.8 533.6 544.4 555.1 563.7 572.6 578.4 22

 23 FL263090005 Miscellaneous assets 241.0 248.2 259.9 256.0 273.2 248.2 265.3 265.7 312.6 23

 24 FL263076005 Insurance receivables 65.1 66.6 65.5 65.9 66.3 66.6 68.4 69.8 71.3 24

 25 FL263094733 Balances due from U.S. holding companies 175.9 181.6 194.4 190.2 207.0 181.6 196.9 195.9 241.3 25

 26 FL264190005 Total liabilities 7955.2 7688.9 7772.5 7654.9 7579.6 7688.9 7948.6 8020.5 8130.2 26

 27 LM263111005 U.S. official reserve assets (3) 240.1 232.6 237.1 227.5 219.0 232.6 235.8 232.9 229.9 27

 28 LM263191005 U.S. private deposits 837.0 914.5 877.4 896.5 939.4 914.5 931.1 892.8 908.1 28

 29 FL262151003 Security repurchase agreements 1173.1 1161.2 1141.8 1140.2 1120.8 1161.2 1272.0 1417.9 1576.0 29

 30 LM264122005 Debt securities 4218.4 3713.2 4008.7 3786.0 3655.5 3713.2 3751.3 3732.5 3628.6 30

 31 FL263169105 Commercial paper 421.7 331.8 343.6 323.9 314.3 331.8 291.0 288.4 280.2 31

 32 LM263163005 Bonds 3796.7 3381.4 3665.1 3462.1 3341.2 3381.4 3460.3 3444.2 3348.5 32

 33 LM263163063 Of which: CLO securities (1) 566.7 620.9 577.5 594.8 611.4 620.9 637.5 644.6 657.0 33

 34 FL264123005 Loans 802.3 925.9 829.1 878.2 925.5 925.9 957.7 964.2 983.9 34

 35 FL263168005 Depository institution loans n.e.c. 748.2 862.4 769.3 814.0 851.6 862.4 896.9 906.8 926.9 35

 36 FL263169005 Other loans and advances 54.2 63.5 59.8 64.2 73.9 63.5 60.9 57.5 57.0 36

 37 LM263192305 U.S. direct investment abroad: debt (2) -36.2 -72.2 -77.7 -48.3 -78.6 -72.2 -25.4 -68.7 -38.9 37

 38 FL263140005 Life insurance reserves 104.6 96.5 102.5 100.5 98.5 96.5 97.6 98.3 98.7 38

 39 FL263150005 Pension entitlements 170.2 256.5 191.8 213.3 234.9 256.5 262.8 265.4 276.7 39

 40 LM263170005 Trade payables 84.8 82.4 79.5 80.8 83.0 82.4 80.7 80.0 79.6 40

 41 FL263190005 Miscellaneous liabilities 361.1 378.3 382.3 380.2 381.6 378.3 384.8 405.1 387.6 41

 42 FL263191103 Nonofficial foreign currencies 6.0 3.0 3.0 3.0 2.9 3.0 3.2 2.8 2.7 42

 43 FL263194735 Other investment by U.S. holding companies 148.9 157.7 170.3 165.3 163.9 157.7 158.8 175.2 153.4 43

 44 FL263195105 Accident and health insurance reserves 26.7 25.2 26.3 25.9 25.6 25.2 25.4 25.6 25.7 44

 45 FL263176005 Policy payables 179.5 192.3 182.7 185.9 189.1 192.3 197.3 201.4 205.8 45

 Memo:

 46 LM263164100 Foreign equities held by U.S. residents (4) 12061.3 10306.0 11465.3 9997.7 9192.4 10306.0 10796.8 11031.7 10540.9 46

 47 LM263192101 U.S. direct investment abroad: equity (2) 9726.8 8077.0 9157.4 7722.0 7097.1 8077.0 8773.0 9058.4 8790.8 47

 48 FL313092803 U.S. equity in IBRD, etc. 70.5 72.9 70.8 72.4 72.7 72.9 73.1 74.7 76.2 48

 Financial derivatives (5)

 49 FL263098013 Gross positive fair value 1960.9 2473.8 2189.9 2334.2 2708.5 2473.8 2150.7 2455.2 ND 49

 50 FL263198013 Gross negative fair value 1983.0 2543.3 2254.8 2405.7 2826.9 2543.3 2193.1 2482.8 ND 50

(1) Collateralized loan obligations.

(2) Direct investment reported at market value.

(3) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).

(5) Financial derivatives are not included above.
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112 Z.1, December 7, 2023

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM893111005 Total liabilities 400.9 385.5 395.9 380.0 366.1 385.5 390.3 385.6 380.9 1

 2 LM313111303 Federal government: SDR allocations 160.8 152.9 158.8 152.5 147.0 152.9 154.5 152.8 151.0 2

 3 LM263111005 Rest of the world 240.1 232.6 237.1 227.5 219.0 232.6 235.8 232.9 229.9 3

 4 LM313011303 SDR holdings 163.6 160.5 163.1 158.2 153.2 160.5 163.2 162.2 162.1 4

 5 LM263111403 Reserve position in IMF 35.8 35.0 34.8 33.1 32.0 35.0 35.1 34.1 32.3 5

 6 LM263111503 Other reserves 40.6 37.1 39.2 36.2 33.9 37.1 37.4 36.5 35.5 6

 7 FL893011005 Total assets 411.9 396.5 406.9 391.0 377.1 396.5 401.4 396.7 391.9 7

 8 FL313011005 Federal government 219.9 214.1 217.6 209.5 202.2 214.1 217.2 214.7 212.3 8

 9 FL313011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 LM313011303 SDR holdings 163.6 160.5 163.1 158.2 153.2 160.5 163.2 162.2 162.1 10

 11 LM313011405 Reserve position in IMF 36.1 35.2 35.1 33.3 32.3 35.2 35.4 34.4 32.5 11

 12 LM313011505 Other reserves 20.2 18.4 19.4 18.0 16.8 18.4 18.5 18.1 17.7 12

 13 LM313111303 Rest of the world: SDR allocations 160.8 152.9 158.8 152.5 147.0 152.9 154.5 152.8 151.0 13

 14 FL713011005 Monetary authority 31.2 29.5 30.5 29.0 27.9 29.5 29.7 29.2 28.6 14

 15 FL713011203 Monetary gold (2) 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

 16 FL713011405 Reserve position in IMF -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 16

 17 LM713011505 Other reserves 20.5 18.7 19.8 18.3 17.1 18.7 18.9 18.5 17.8 17

 18 FL903011005 Discrepancy: monetary gold -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

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

 SDR certificates:

 1 FL713014003 Liab.: Federal government 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 1

 2 FL713014003 Asset: Monetary authority 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 2

 Treasury currency:

 3 FL313112003 Liab.: Federal government 23.0 22.6 23.0 23.0 22.6 22.6 22.6 22.6 22.6 3

 4 FL713012003 Asset: Monetary authority 50.8 51.4 50.8 51.0 51.2 51.4 51.5 51.7 52.4 4

 5 FL903012005 Discrepancy (seigniorage) -27.8 -28.8 -27.8 -28.0 -28.6 -28.8 -29.0 -29.1 -29.8 5

L.202 U.S. Deposits in Foreign Countries

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

 1 LM263191005 Total rest of the world liability 837.0 914.5 877.4 896.5 939.4 914.5 931.1 892.8 908.1 1

 Held by:

 2 LM153091003 Household sector 48.2 51.7 50.3 51.5 53.0 51.7 51.0 49.9 49.1 2

 3 FL103091003 Nonfinancial corporate business 166.3 190.6 185.6 160.6 163.3 190.6 186.8 209.1 217.2 3

 4 FL633091003 Money market funds 0.3 1.4 1.3 1.3 1.1 1.4 1.7 2.9 10.9 4

 5 FL733091003 Holding companies 19.2 10.4 22.0 7.9 12.3 10.4 12.8 13.4 16.0 5

 6 FL903091005 Discrepancy--unallocated assets 603.0 660.5 618.2 675.3 709.8 660.5 678.7 617.6 614.9 6
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Z.1, December 7, 2023 113

L.203 Net Interbank Transactions

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL794110005 Total liabilities 3955.5 3148.0 3981.1 3309.9 3319.1 3148.0 4104.5 3859.2 3773.2 1

 2 FL714110005 Monetary authority 3734.8 2771.5 3686.5 3044.5 2954.1 2771.5 3267.0 3129.8 3141.3 2

 3 FL764110005 U.S.-chartered depository institutions -36.1 -121.3 -57.1 -101.2 -84.4 -121.3 184.9 170.9 143.5 3

 4 FL754110005 Foreign banking offices in U.S. 289.0 551.6 401.2 425.8 503.8 551.6 699.7 604.0 534.1 4

 5 FL744110005 Banks in U.S.-affiliated areas -1.4 -1.4 -1.4 -1.4 -2.8 -1.4 -1.4 -1.3 -1.5 5

 6 FL474110005 Credit unions -30.8 -52.4 -48.0 -57.8 -51.6 -52.4 -45.7 -44.3 -44.3 6

 7 FL894010005 Total assets 3970.9 3196.5 3993.5 3352.0 3351.8 3196.5 4131.1 3883.9 3801.8 7

 8 FL714010005 Monetary authority 12.7 8.5 8.1 8.8 11.3 8.5 317.3 275.5 195.3 8

 9 FL763020005 U.S.-chartered depository institutions 2668.8 1713.1 2438.9 1916.7 1802.5 1713.1 2010.1 1928.7 1959.6 9

 10 FL753020005 Foreign banking offices in U.S. 830.3 959.0 1034.1 978.8 1032.1 959.0 1123.5 1077.8 1063.1 10

 11 FL743013003 Banks in U.S.-affiliated areas 21.9 6.0 13.3 11.8 4.9 6.0 6.5 9.2 6.3 11

 12 FL473013005 Credit unions 213.8 93.5 200.3 137.2 114.6 93.5 126.9 114.1 112.4 12

 13 FL264016005 Rest of the world 223.4 416.4 298.9 298.7 386.4 416.4 546.8 478.6 465.2 13

 14 FL904010005 Discrepancy -15.3 -48.5 -12.4 -42.1 -32.7 -48.5 -26.6 -24.8 -28.6 14

 Memo:

 Vault cash:

 15 FL703025005 Liab.: Monetary authority 90.5 86.7 89.1 89.1 79.3 86.7 83.2 82.9 74.7 15

 16 FL763025000 Asset: U.S.-chartered depository institutions 90.4 86.7 89.1 89.1 79.2 86.7 83.2 82.9 74.6 16

 17 FL753025003 Foreign banking offices in U.S. 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 Depository institution reserves:

 18 FL713113003 Liab.: Monetary authority 3644.3 2684.8 3597.4 2955.4 2874.8 2684.8 3183.7 3046.9 3066.6 18

 19 FL763013005 Asset: U.S.-chartered depository institutions 2578.4 1626.4 2349.8 1827.6 1723.2 1626.4 1926.8 1845.8 1884.9 19

 20 FL753013003 Foreign banking offices in U.S. 830.2 959.0 1034.0 978.8 1032.1 959.0 1123.5 1077.7 1063.1 20

 21 FL743013003 Banks in U.S.-affiliated areas 21.9 6.0 13.3 11.8 4.9 6.0 6.5 9.2 6.3 21

 22 FL473013005 Credit unions 213.8 93.5 200.3 137.2 114.6 93.5 126.9 114.1 112.4 22

 Other transactions with the monetary authority

 23 FL714010075 Liab.: U.S.-chartered depository institutions 12.6 8.5 8.1 8.8 11.3 8.5 317.3 275.5 195.3 23

 24 FL713068743 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FL714010005 Asset: Monetary authority 12.7 8.5 8.1 8.8 11.3 8.5 317.3 275.5 195.3 25

 26 FL713022003 Federal Reserve float -0.6 -0.5 -0.7 -0.8 -0.4 -0.5 -0.4 -0.3 -0.4 26

 27 FL713068705 Loans to depository institutions 13.3 9.1 8.8 9.6 11.7 9.1 317.7 275.8 195.6 27

 Transactions with banks in foreign countries (net):

 28 FL764116205 Liab.: U.S.-chartered depository institutions (net) -13.6 -83.2 -35.4 -52.4 -47.9 -83.2 -101.2 -79.4 -23.0 28

 29 FL763192605 Due to foreign affiliates 450.5 411.1 437.2 438.5 429.6 411.1 398.5 376.6 415.1 29

 30 FL763092605 - Due from foreign affiliates 464.0 494.3 472.7 490.9 477.5 494.3 499.7 456.1 438.0 30

 31 FL754116205 Foreign banking offices in U.S. (net) 308.3 567.6 412.7 433.9 511.6 567.6 714.7 624.0 554.2 31

 32 FL753192605 Due to foreign affiliates 1092.6 1320.4 1163.9 1193.4 1261.1 1320.4 1424.1 1396.0 1385.8 32

 33 FL753092605 - Due from foreign affiliates 784.3 752.8 751.2 759.4 749.6 752.8 709.4 772.0 831.6 33

 34 FL264116205 Less: Deposits at foreign banks 38.6 35.6 42.1 42.5 39.5 35.6 37.6 36.2 37.6 34

 35 FL764016205 U.S.-chartered depository institutions 27.1 26.9 30.4 30.0 27.5 26.9 26.3 23.7 24.5 35

 36 FL754016205 Foreign banking offices in U.S. 11.6 8.7 11.7 12.5 12.0 8.7 11.3 12.5 13.1 36

 37 FL264135125 Loans to foreign banks 52.1 59.4 57.8 65.5 63.1 59.4 55.9 54.0 54.5 37

 38 FL764035125 U.S.-chartered depository institutions 23.3 28.5 30.3 34.3 30.7 28.5 25.2 24.3 24.4 38

 39 FL754035125 Foreign banking offices in U.S. 28.9 30.9 27.4 31.2 32.3 30.9 30.7 29.7 30.0 39

 40 FL264035125 Plus: Loans from foreign banks 19.4 27.0 21.4 25.1 25.3 27.0 26.8 24.3 26.1 40

 41 FL274135123 U.S.-chartered depository institutions 9.0 15.1 11.6 13.1 13.5 15.1 13.7 13.6 14.2 41

 42 FL284135125 Foreign banking offices in U.S. 10.4 11.8 9.8 12.0 11.9 11.8 13.0 10.7 11.9 42

 43 FL264016005 Asset: Rest of the world (1) 223.4 416.4 298.9 298.7 386.4 416.4 546.8 478.6 465.2 43

 Transactions between U.S. depository institutions (net):

 44 FL764112005 U.S.-chartered depository institutions (net) 6.2 -6.5 19.3 -6.4 -3.1 -6.5 6.5 9.3 6.0 44

 45 FL764112205 Due to (3): 39.4 27.0 58.4 40.2 46.6 27.0 44.7 47.8 44.4 45

 46 FL754012205 Foreign banking offices in U.S. 22.6 21.6 21.3 23.1 24.9 21.6 24.2 27.0 27.3 46

 47 FL743020005 Banks in U.S.-affiliated areas 1.4 1.4 1.4 1.4 2.8 1.4 1.4 1.3 1.5 47

 48 FL474012205 Credit unions 30.8 52.4 48.0 57.8 51.6 52.4 45.7 44.3 44.3 48

 49 FL754112205 - Due from: Foreign banking offices in U.S. 33.3 33.4 39.1 46.6 49.7 33.4 38.2 38.5 38.4 49

 50 FL904010005 Unallocated (2) -15.3 -48.5 -12.4 -42.1 -32.7 -48.5 -26.6 -24.8 -28.6 50

(1) Sum of lines 28 and 31 less line 34 and line 37 plus line 40.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 13 above. However, the unallocated amount (line 50), which is due to inconsistencies

 in source data, appears on line 14 as the discrepancy between liabilities and assets.

(3) Sum of lines 46, 47, 48, and 50.
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114 Z.1, December 7, 2023

L.204 Checkable Deposits and Currency

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL793120005 Total liabilities 9360.3 9776.2 9841.1 10151.0 10078.6 9776.2 9484.7 9583.1 9671.3 1

 2 FL713120005 Monetary authority 2817.5 2896.6 3109.0 3229.1 3069.7 2896.6 2646.0 2866.1 3085.2 2

 3 FL713123005 Federal government cash and deposits 406.2 446.8 651.6 782.5 636.1 446.8 177.9 402.6 657.2 3

 4 FL713124005 Due to government-sponsored enterprises 33.9 22.0 29.8 25.9 20.3 22.0 26.8 22.5 24.8 4

 5 FL713129005 Due to other financial business 221.9 196.5 241.4 220.7 205.8 196.5 192.2 169.4 145.1 5

 6 FL713122605 Deposits due to foreign 9.4 9.0 7.5 7.5 7.5 9.0 9.7 9.7 9.7 6

 7 FL713125005 Currency outside banks 2146.2 2222.3 2178.8 2192.6 2200.0 2222.3 2239.4 2261.9 2248.4 7

 8 FL763127005 U.S.-chartered depository institutions 5822.4 6163.1 5971.6 6145.6 6242.0 6163.1 6100.6 5980.5 5839.5 8

 9 FL763123005 Federal government deposits 2.6 2.6 2.8 2.9 3.2 2.6 6.7 6.7 7.2 9

 10 FL763128000 State and local government deposits 345.7 360.4 351.2 361.0 353.4 360.4 359.5 352.9 351.1 10

 11 FL763122605 Deposits due to foreign 82.5 83.0 92.1 72.5 89.1 83.0 87.9 82.1 81.5 11

 12 FL763129205 Private domestic deposits 5391.7 5717.2 5525.5 5709.2 5796.2 5717.2 5646.6 5538.8 5399.7 12

 13 FL753127005 Foreign banking offices in U.S. 282.0 269.5 307.5 326.9 310.4 269.5 280.1 287.6 302.9 13

 14 FL753122603 Deposits due to foreign 122.8 101.2 127.0 126.6 110.0 101.2 96.0 102.6 101.1 14

 15 FL753129205 Private domestic deposits 159.2 168.3 180.5 200.4 200.3 168.3 184.0 185.0 201.9 15

 16 FL743127003 Banks in U.S.-affiliated areas 64.0 57.9 57.8 59.2 61.8 57.9 56.9 57.9 57.3 16

 17 FL473127003 Credit unions 374.2 389.1 395.2 390.1 394.8 389.1 401.1 390.9 386.3 17

 18 FL793120005 Total assets 9360.3 9776.2 9841.1 10151.0 10078.6 9776.2 9484.7 9583.1 9671.3 18

 19 FL153020005 Household sector 4147.5 4537.7 4385.5 4700.0 4792.9 4537.7 4559.0 4462.6 4231.9 19

 20 FL143020005 Nonfinancial business 2519.4 2522.4 2501.5 2390.4 2401.1 2522.4 2483.7 2454.9 2579.2 20

 21 FL103020005 Corporate 2049.8 2010.3 2001.0 1877.6 1894.0 2010.3 1969.6 1937.5 2060.6 21

 22 FL113020005 Noncorporate 469.5 512.1 500.5 512.8 507.1 512.1 514.1 517.4 518.6 22

 23 FL313020005 Federal government 410.3 454.7 656.2 789.7 643.7 454.7 184.5 410.9 665.3 23

 24 FL213020005 State and local governments 345.7 360.4 351.2 361.0 353.4 360.4 359.5 352.9 351.1 24

 25 FL793020005 Domestic financial sectors 726.5 678.6 705.7 688.3 662.7 678.6 663.6 656.1 609.1 25

 26 FL513020005 Property-casualty insurance companies 72.7 50.3 53.5 47.8 48.1 50.3 44.7 47.2 41.8 26

 27 FL543020005 Life insurance companies 119.3 115.5 111.1 114.7 115.8 115.5 118.8 134.6 124.4 27

 28 FL573020005 Private pension funds 24.5 24.0 24.5 24.4 24.3 24.0 24.2 24.3 24.2 28

 29 FL343020033 Federal government retirement funds 1.1 0.2 0.9 0.7 0.4 0.2 0.0 0.0 0.0 29

 30 FL223020043 State and local govt. retirement funds 28.6 26.4 27.6 28.0 24.9 26.4 26.7 32.8 34.0 30

 31 FL403020005 Government-sponsored enterprises 62.6 69.1 52.5 54.3 44.7 69.1 73.7 63.4 60.6 31

 32 FL613020003 Finance companies 20.9 11.2 13.4 12.7 10.1 11.2 12.0 12.9 13.9 32

 33 FL643020073 Mortgage REITs 16.6 15.9 16.4 15.8 17.5 15.9 17.5 15.7 15.6 33

 34 FL663020003 Brokers and dealers 140.7 148.8 146.6 150.1 153.2 148.8 132.7 136.8 130.1 34

 35 FL503020005 Other financial business 239.6 217.2 259.1 239.9 223.5 217.2 213.4 188.4 164.5 35

 36 FL263020005 Rest of the world 1209.5 1223.1 1238.9 1221.8 1225.3 1223.1 1230.4 1243.0 1231.2 36

 37 FL263027003 Checkable deposits 214.6 193.2 226.6 206.6 206.6 193.2 193.6 194.4 192.3 37

 38 FL263025003 Currency 994.9 1029.9 1012.3 1015.2 1018.7 1029.9 1036.7 1048.6 1038.9 38

 39 FL903020005 Mail float 1.3 -0.7 2.1 -0.2 -0.5 -0.7 4.0 2.6 3.4 39
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Z.1, December 7, 2023 115

L.205 Time and Savings Deposits 

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL703130005 Total liabilities 14437.6 13820.3 14544.4 14097.1 13831.3 13820.3 13433.5 13476.5 13558.6 1

 2 FL763130005 U.S.-chartered depository institutions 12092.3 11324.8 12110.5 11629.7 11349.6 11324.8 10950.3 10986.1 11080.7 2

 3 FL753130005 Foreign banking offices in U.S. 862.2 966.4 907.5 934.5 945.9 966.4 925.6 935.4 921.3 3

 4 FL743130003 Banks in U.S.-affiliated areas 40.7 38.7 39.9 38.6 41.4 38.7 39.6 39.0 39.8 4

 5 FL473130005 Credit unions 1442.5 1490.4 1486.6 1494.3 1494.4 1490.4 1518.0 1516.0 1516.8 5

 6 FL703130005 Total assets 14437.6 13820.3 14544.4 14097.1 13831.3 13820.3 13433.5 13476.5 13558.6 6

 7 FL153030005 Household sector 11063.8 10270.8 11106.9 10679.1 10343.1 10270.8 9846.8 9726.8 9803.4 7

 8 FL143030005 Nonfinancial business 1665.3 1749.9 1709.8 1689.1 1719.5 1749.9 1754.9 1883.2 1910.7 8

 9 FL103030003 Corporate 283.7 297.1 284.6 264.4 295.6 297.1 274.9 391.7 415.4 9

 10 FL113030003 Noncorporate 1381.6 1452.9 1425.1 1424.7 1423.9 1452.9 1479.9 1491.5 1495.3 10

 11 FL313030003 Federal government 2.1 1.1 2.1 1.3 1.3 1.1 1.3 1.2 1.2 11

 12 FL213030000 State and local governments 382.9 370.5 375.7 354.2 353.3 370.5 362.0 369.8 365.2 12

 13 FL793030005 Domestic financial sectors 629.9 747.1 604.2 659.5 696.4 747.1 796.9 821.1 816.4 13

 14 FL573030005 Private pension funds 17.3 18.2 17.4 17.7 18.0 18.2 18.5 18.8 19.0 14

 15 FL223030043 State and local govt. retirement funds 2.4 6.4 0.2 1.7 0.1 6.4 3.0 0.1 0.1 15

 16 FL633030000 Money market funds 143.6 190.1 174.9 187.2 210.3 190.1 227.3 266.8 292.8 16

 17 FL403030005 Government-sponsored enterprises 6.6 22.9 7.5 10.3 13.5 22.9 25.1 30.0 28.1 17

 18 FL613030003 Finance companies 62.6 33.6 40.0 38.0 30.3 33.6 36.0 38.7 41.7 18

 19 FL733030005 Holding companies 397.5 475.8 364.2 404.5 424.2 475.8 487.0 466.8 434.9 19

 20 FL263030005 Rest of the world 693.7 681.0 745.7 713.8 717.8 681.0 671.6 674.4 661.7 20

L.206 Money Market Fund Shares

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

 1 FL634090005 Total assets 5205.5 5223.1 5090.7 5032.4 5084.2 5223.1 5692.6 5917.4 6143.0 1

 2 FL153034005 Household sector 2803.7 3079.7 2778.2 2831.1 2918.7 3079.7 3387.2 3539.1 3690.1 2

 3 FL103034000 Nonfinancial corporate business 813.1 739.5 766.5 740.1 726.5 739.5 810.1 843.6 881.5 3

 4 FL113034003 Nonfinancial noncorporate business 130.7 137.0 131.3 133.8 135.4 137.0 137.7 138.9 139.2 4

 5 FL213034003 State and local governments 55.3 65.1 56.0 57.7 60.3 65.1 71.3 74.3 77.6 5

 6 FL513034005 Property-casualty insurance companies 31.5 42.9 27.8 29.5 35.0 42.9 42.2 47.6 38.2 6

 7 FL543034005 Life insurance companies 64.2 74.3 65.1 70.7 72.6 74.3 76.9 85.1 81.0 7

 8 FL573034005 Private pension funds 212.0 228.3 214.3 218.5 222.9 228.3 230.9 233.7 237.3 8

 9 FL223034005 State and local govt. retirement funds 26.3 22.5 24.4 22.4 20.6 22.5 23.7 19.3 18.3 9

 10 FL653034003 Mutual Funds 267.4 225.7 298.8 261.2 261.3 225.7 229.9 228.4 219.3 10

 11 FL563034003 Exchange-traded funds 38.7 27.1 34.8 29.0 32.7 27.1 32.1 31.0 30.4 11

 12 FL503034005 Other financial business 598.2 397.2 522.6 461.3 419.5 397.2 450.2 468.2 513.8 12

 13 FL263034003 Rest of the world 164.5 183.8 170.8 177.0 178.9 183.8 200.3 208.2 216.1 13
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116 Z.1, December 7, 2023

L.207 Federal Funds and Security Repurchase Agreements (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL892150005 Total liabilities 5855.3 6563.7 5720.1 6163.6 6346.3 6563.7 7089.2 6917.5 6585.1 1

 2 FL712151003 Monetary authority 2183.0 2889.6 2121.0 2601.2 2720.4 2889.6 2742.7 2368.9 1863.4 2

 3 FL762150005 U.S.-chartered depository institutions 161.0 185.3 156.1 168.6 176.8 185.3 289.5 264.2 254.1 3

 4 FL762152005 Federal funds (2) 14.8 39.0 17.3 26.3 37.4 39.0 33.2 32.6 32.4 4

 5 FL762151005 Security repurchase agreements 146.3 146.3 138.7 142.3 139.4 146.3 256.4 231.6 221.7 5

 6 FL752150005 Foreign banking offices in U.S. 527.5 464.2 544.5 491.2 475.8 464.2 510.1 558.9 553.2 6

 7 FL752152005 Federal funds (2) 11.5 11.7 26.3 20.1 23.8 11.7 15.5 30.4 25.7 7

 8 FL752151005 Security repurchase agreements 515.9 452.4 518.2 471.0 452.0 452.4 494.6 528.4 527.5 8

 9 FL472150053 Credit unions 0.0 0.2 0.0 0.0 0.0 0.2 0.1 0.0 0.0 9

 10 FL512151003 Property-casualty insurance companies 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.4 0.5 10

 11 FL542151073 Life insurance companies 20.1 35.5 22.9 24.4 31.9 35.5 33.8 38.1 40.7 11

 12 FL402150005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL642151073 Mortgage REITs 220.1 201.5 210.1 204.3 207.0 201.5 222.1 214.6 229.7 13

 14 FL662151003 Brokers and dealers 1570.4 1626.1 1523.6 1533.6 1613.4 1626.1 2018.5 2054.4 2067.3 14

 15 FL732151003 Holding companies 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.1 15

 16 FL262151003 Rest of the world 1173.1 1161.2 1141.8 1140.2 1120.8 1161.2 1272.0 1417.9 1576.0 16

 17 FL892050005 Total assets 6245.3 7071.4 6131.4 6470.0 6732.8 7071.4 7890.6 7690.0 7468.0 17

 18 FL102051003 Nonfinancial corporate business 26.7 28.5 30.0 24.6 24.7 28.5 30.7 30.1 29.7 18

 19 FL212051003 State and local governments 189.2 199.3 191.7 194.2 196.8 199.3 201.8 204.3 206.8 19

 20 FL712051000 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 45.0 1.0 0.0 20

 21 FL762050005 U.S.-chartered depository institutions 317.4 330.8 298.5 280.9 307.9 330.8 324.6 275.5 271.8 21

 22 FL762052005 Federal funds (2) 25.6 26.2 22.5 17.8 19.8 26.2 22.6 15.2 20.8 22

 23 FL762051005 Security repurchase agreements 291.8 304.6 275.9 263.1 288.2 304.6 302.0 260.3 250.9 23

 24 FL752050005 Foreign banking offices in U.S. 275.9 265.3 282.2 289.4 301.9 265.3 336.6 349.7 333.8 24

 25 FL752052005 Federal funds (2) 0.2 0.3 0.5 0.3 0.3 0.3 0.3 0.3 0.3 25

 26 FL752051005 Security repurchase agreements 275.7 265.0 281.7 289.1 301.6 265.0 336.3 349.4 333.5 26

 27 FL472050053 Credit unions 0.2 0.1 0.2 0.2 0.2 0.1 0.1 0.1 0.1 27

 28 FL472052053 Federal funds 0.1 0.0 0.1 0.1 0.1 0.0 0.0 0.0 0.0 28

 29 FL472051053 Security repurchase agreements 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 29

 30 FL512051005 Property-casualty insurance companies 2.2 2.3 1.4 1.6 1.8 2.3 2.5 2.5 3.4 30

 31 FL542051075 Life insurance companies 9.8 4.5 7.9 6.1 5.7 4.5 5.8 6.5 7.0 31

 32 FL572051005 Private pension funds 18.7 19.5 18.9 19.1 19.3 19.5 19.8 20.2 20.4 32

 33 FL222051043 State and local govt. retirement funds 27.6 48.2 20.0 19.9 32.6 48.2 59.4 21.2 13.6 33

 34 FL632051000 Money market funds 2495.7 2976.6 2376.9 2595.9 2743.7 2976.6 3235.2 3233.1 2948.8 34

 35 FL652051003 Mutual funds (net) 19.7 25.9 11.9 25.1 26.8 25.9 34.9 40.4 38.8 35

 36 FL402050005 Government-sponsored enterprises 209.7 252.2 218.2 277.3 304.5 252.2 363.1 376.6 304.1 36

 37 FL402052033 Of which: FHLB federal funds (3) 47.4 65.9 57.3 71.7 90.2 65.9 86.9 99.3 87.1 37

 38 FL662051003 Brokers and dealers 1255.4 1461.5 1324.4 1345.5 1330.5 1461.5 1660.6 1637.9 1604.2 38

 39 FL732051003 Holding companies 26.1 36.6 17.8 23.8 29.2 36.6 36.0 35.9 35.3 39

 40 FL502051005 Other financial business 3.6 3.9 3.9 4.6 4.4 3.9 5.0 4.3 5.1 40

 41 FL262051005 Rest of the world 1367.4 1416.2 1327.7 1361.6 1403.0 1416.2 1529.6 1450.6 1645.4 41

 42 FL902050005 Discrepancy -390.0 -507.7 -411.4 -306.4 -386.5 -507.7 -801.4 -772.5 -882.9 42

 Memo:

 43 FL072052006 Effective federal funds rate (percent) (4) 0.08 4.10 0.20 1.21 2.56 4.10 4.65 5.08 5.33 43

 Federal Reserve’s reverse repurchase agreement operations:

 44 FL712151103 Liability: Monetary authority (5) 1904.6 2553.7 1872.0 2329.7 2425.9 2553.7 2375.2 2034.3 1557.6 44

 45 FL632051103 Asset: Money market funds (6) 1739.7 2339.6 1658.1 2062.9 2220.6 2339.6 2230.8 1906.0 1484.0 45

 46 FL792051115 Other financial institutions (7) 164.9 214.1 213.9 266.9 205.3 214.1 144.3 128.3 73.6 46

(1) Detailed data on federal funds and security repurchase agreements are available beginning 2012:Q1 for U.S.-chartered depository institutions, 2003:Q1 for foreign banking offices in U.S.,

 1997:Q1 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) The effective federal funds rate is a weighted average of rates on brokered trades. Annualized using a 360-day year.

(5) Included in line 2.

(6) Included in line 34.

(7) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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L.208 Debt Securities (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FL894122005 Total debt securities 56524.5 58867.0 57507.1 57588.7 58043.1 58867.0 59563.6 60335.6 61105.1 1

 2 FL893169175 Open market paper 1051.8 1227.6 1139.6 1163.9 1165.9 1227.6 1182.9 1191.1 1230.6 2

 3 FL313161105 Treasury securities 25284.7 26831.6 26016.5 26050.7 26468.7 26831.6 26955.7 27748.0 28649.1 3

 4 FL893161705 Agency- and GSE-backed securities 10699.2 11678.6 10926.8 11195.5 11442.4 11678.6 12041.3 11972.4 11902.3 4

 5 FL383162005 Municipal securities 4081.3 4028.8 4064.0 4068.2 4051.7 4028.8 4032.8 4048.4 4037.9 5

 6 FL893163005 Corporate and foreign bonds 15407.5 15100.4 15360.2 15110.5 14914.3 15100.4 15351.0 15375.7 15285.1 6

 By sector

 7 FL894122005 Total liabilities 56524.5 58867.0 57507.1 57588.7 58043.1 58867.0 59563.6 60335.6 61105.1 7

 8 FL384122005 Domestic nonfinancial sectors 36700.5 38274.4 37511.5 37511.3 37929.0 38274.4 38570.4 39393.4 40307.2 8

 9 FL163162003 Nonprofit organizations (2) 202.6 201.7 204.6 202.1 201.4 201.7 201.7 204.0 204.0 9

 10 FL104122005 Nonfinancial corporate business 7932.7 8013.0 8033.8 7998.1 8008.9 8013.0 8181.1 8200.7 8219.4 10

 11 FL314122005 Federal government 25304.5 26851.4 26035.9 26070.4 26488.1 26851.4 26975.4 27766.0 28668.7 11

 12 FL213162005 State and local governments 3260.7 3208.3 3237.2 3240.7 3230.6 3208.3 3212.1 3222.8 3215.1 12

 13 FL794122005 Domestic financial sectors 15605.6 16879.5 15987.0 16291.4 16458.6 16879.5 17242.0 17209.6 17169.3 13

 14 FL764122005 U.S.-chartered depository institutions 311.8 465.6 348.4 390.8 396.7 465.6 424.0 454.4 481.8 14

 15 FL753169175 Foreign banking offices in U.S. 53.7 112.0 77.3 96.2 97.6 112.0 112.8 123.8 132.9 15

 16 FL403161705 Government-sponsored enterprises 8177.6 8970.8 8372.6 8591.9 8785.7 8970.8 9303.7 9189.4 9098.3 16

 17 FL413065005 Agency- and GSE-backed mortgage pools 2501.8 2687.9 2534.8 2583.9 2637.4 2687.9 2717.9 2765.0 2784.4 17

 18 FL674122005 ABS issuers 1388.3 1468.6 1426.0 1454.5 1471.7 1468.6 1483.0 1486.5 1498.0 18

 19 FL614122005 Finance companies 1085.3 1062.4 1068.2 1058.6 1037.0 1062.4 1068.5 1103.0 1109.6 19

 20 FL644122075 Mortgage REITs 203.8 216.7 209.5 213.8 210.6 216.7 216.5 211.8 208.9 20

 21 FL663163003 Brokers and dealers 217.7 236.1 260.8 249.2 223.6 236.1 229.3 211.2 221.0 21

 22 FL734122005 Holding companies 1544.9 1541.8 1531.1 1516.6 1472.6 1541.8 1548.0 1541.2 1484.3 22

 23 FL504122005 Other financial business 120.6 117.4 158.4 135.9 125.6 117.4 138.3 123.3 149.8 23

 24 LM264122005 Rest of the world 4218.4 3713.2 4008.7 3786.0 3655.5 3713.2 3751.3 3732.5 3628.6 24

 25 FL894022005 Total assets 57845.6 53890.0 56049.5 54041.3 52611.6 53890.0 55425.9 55670.7 55041.0 25

 26 FL384022005 Domestic nonfinancial sectors 5897.1 7270.7 5810.3 6121.2 6544.9 7270.7 8058.7 8172.9 8268.4 26

 27 LM154022005 Household sector 3259.4 4592.9 3259.3 3421.3 3923.3 4592.9 5275.4 5381.3 5474.9 27

 28 LM104022005 Nonfinancial corporate business 409.6 369.1 378.0 400.0 358.2 369.1 370.1 380.8 417.3 28

 29 LM114022005 Nonfinancial noncorporate business 75.9 76.9 72.3 74.3 75.8 76.9 77.0 77.8 78.5 29

 30 FL314022005 Federal government 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 30

 31 LM214022005 State and local governments 2151.8 2231.3 2100.2 2225.1 2187.2 2231.3 2335.6 2332.5 2297.3 31

 32 FL794022005 Domestic financial sectors 38296.9 34016.2 37008.3 35256.0 33773.2 34016.2 34415.9 34460.9 33949.3 32

 33 LM714022005 Monetary authority 8733.2 7349.1 8470.4 8043.4 7507.3 7349.1 7243.2 6902.1 6393.6 33

 34 LM764022005 U.S.-chartered depository institutions 6319.8 5620.5 6243.1 6017.2 5660.0 5620.5 5575.3 5406.8 5153.0 34

 35 LM754022005 Foreign banking offices in U.S. 286.1 297.8 280.8 295.5 304.4 297.8 280.4 290.5 276.2 35

 36 LM744022003 Banks in U.S.-affiliated areas 47.5 50.9 47.8 51.3 54.5 50.9 50.0 49.6 68.9 36

 37 LM474022005 Credit unions 403.1 385.4 414.7 413.9 395.5 385.4 381.3 370.6 358.9 37

 38 LM514022005 Property-casualty insurance companies 1320.1 1241.7 1245.2 1205.9 1183.2 1241.7 1290.0 1288.9 1300.2 38

 39 LM544022005 Life insurance companies 4452.1 3796.4 4138.7 3870.6 3689.0 3796.4 3954.4 3944.8 3834.0 39

 40 LM574022005 Private pension funds 1821.0 1688.4 1711.2 1649.4 1610.9 1688.4 1789.0 1820.1 1784.7 40

 41 LM344022005 Federal government retirement funds 2483.6 2720.0 2512.1 2535.2 2580.1 2720.0 2405.3 2717.4 2757.8 41

 42 LM224022045 State and local govt. retirement funds 1188.4 1035.1 1144.7 1085.9 1045.8 1035.1 1125.6 1122.1 1100.6 42

 43 FL634022005 Money market funds 2568.8 2022.0 2514.9 2224.6 2113.2 2022.0 2206.9 2392.5 2881.2 43

 44 LM654022005 Mutual funds 5897.6 4793.9 5561.1 5087.6 4810.7 4793.9 4931.1 4969.8 4805.0 44

 45 LM554022005 Closed-end funds 186.6 153.1 173.4 159.0 150.1 153.1 153.6 151.9 147.3 45

 46 LM564022005 Exchange-traded funds 1215.3 1258.7 1180.5 1173.3 1177.2 1258.7 1336.9 1371.7 1366.3 46

 47 LM404022005 Government-sponsored enterprises 430.2 395.6 432.8 404.5 398.9 395.6 407.9 421.6 427.2 47

 48 FL674022005 ABS issuers 31.9 36.4 34.5 35.7 36.3 36.4 36.4 34.5 33.2 48

 49 LM613063003 Finance companies 68.3 52.0 59.0 50.9 47.9 52.0 40.9 38.3 38.2 49

 50 LM644022075 Mortgage REITs 180.4 159.0 169.3 157.0 166.0 159.0 181.3 181.8 191.1 50

 51 LM664022005 Brokers and dealers 196.6 311.4 139.0 175.5 246.4 311.4 420.5 405.0 435.4 51

 52 LM734022605 Holding companies 146.4 181.4 148.9 166.4 176.4 181.4 168.2 165.9 173.7 52

 53 FL504022005 Other financial business 320.1 467.5 386.2 453.3 419.6 467.5 437.6 415.2 422.8 53

 54 LM264022005 Rest of the world 13651.6 12603.1 13230.9 12664.1 12293.5 12603.1 12951.3 13037.0 12823.3 54

 55 LM904022005 Discrepancy (3) -1321.1 4977.0 1457.6 3547.4 5431.5 4977.0 4137.7 4664.8 6064.1 55

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.

(2) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

(3) The accumulated valuation difference between issuance and holdings.
Levels

118 Z.1, December 7, 2023

L.209 Open Market Paper

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893169175 Total liabilities 1051.8 1227.6 1139.6 1163.9 1165.9 1227.6 1182.9 1191.1 1230.6 1

 2 FL893169105 Commercial paper 1051.8 1227.6 1139.6 1163.9 1165.9 1227.6 1182.9 1191.1 1230.6 2

 3 FL103169100 Nonfinancial corporate business 138.2 197.6 188.7 188.1 198.8 197.6 206.2 192.7 203.1 3

 4 FL263169105 Foreign issues in U.S. 421.7 331.8 343.6 323.9 314.3 331.8 291.0 288.4 280.2 4

 5 FL263169110 Nonfinancial 38.3 29.3 30.6 28.3 25.6 29.3 26.7 28.2 21.7 5

 6 FL263169123 Financial 383.4 302.6 313.0 295.6 288.7 302.6 264.3 260.1 258.4 6

 7 FL793169100 Financial business 491.8 698.3 607.2 651.9 652.8 698.3 685.8 710.0 747.3 7

 8 FL763169103 U.S.-chartered depository institutions 120.1 196.0 138.3 160.2 163.2 196.0 177.7 193.3 207.8 8

 9 FL753169103 Foreign banking offices in U.S. 53.7 112.0 77.3 96.2 97.6 112.0 112.8 123.8 132.9 9

 10 FL673169105 ABS issuers 131.9 197.0 174.1 197.7 200.0 197.0 187.0 188.7 175.9 10

 11 FL613169100 Finance companies 57.4 66.3 51.7 53.0 57.2 66.3 60.9 68.5 69.8 11

 12 FL643169173 Mortgage REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL733169103 Holding companies 8.1 9.5 7.5 8.8 9.2 9.5 9.0 12.4 11.0 13

 14 FL503169105 Other financial business 120.6 117.4 158.4 135.9 125.6 117.4 138.3 123.3 149.8 14

 15 FL703169605 Bankers’ acceptances (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL763169603 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FL753169603 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL893169175 Total assets 1051.8 1227.6 1139.6 1163.9 1165.9 1227.6 1182.9 1191.1 1230.6 18

 19 FL103069100 Nonfinancial corporate business 256.3 204.8 229.1 248.3 209.2 204.8 205.0 197.1 228.2 19

 20 FL213069103 State and local governments 81.1 85.2 82.1 83.2 84.2 85.2 86.2 87.2 88.2 20

 21 FL713069603 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL763069175 U.S.-chartered depository institutions (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL753069603 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL473069153 Credit unions 0.3 0.1 0.5 0.4 0.1 0.1 0.0 0.0 0.0 24

 25 FL513069105 Property-casualty insurance companies 4.5 4.3 2.9 3.3 3.4 4.3 4.5 4.7 6.2 25

 26 FL543069105 Life insurance companies 41.0 25.1 35.8 30.1 29.0 25.1 26.2 28.4 29.1 26

 27 FL573069105 Private pension funds 41.7 44.1 42.2 42.8 43.4 44.1 44.7 45.4 45.9 27

 28 FL223069143 State and local govt. retirement funds 20.4 11.3 23.2 22.8 16.0 11.3 12.4 14.2 12.0 28

 29 FL633069175 Money market funds 226.2 253.8 233.0 221.1 245.4 253.8 250.5 263.2 293.4 29

 30 FL653069100 Mutual funds 39.4 39.7 45.1 36.6 37.8 39.7 38.4 42.6 40.9 30

 31 FL403069105 Government-sponsored enterprises 4.7 10.2 6.4 7.9 9.8 10.2 9.3 10.0 11.0 31

 32 FL663069103 Brokers and dealers 16.3 19.0 22.2 15.6 23.4 19.0 28.3 29.0 24.7 32

 33 FL503069105 Other financial business 181.5 338.9 243.1 318.4 288.1 338.9 300.8 269.4 281.3 33

 34 LM263069103 Rest of the world 138.3 191.3 173.9 133.6 176.2 191.3 176.5 200.0 169.6 34

(1) Excludes banks’ holdings of own acceptances.
Levels

Z.1, December 7, 2023 119

L.210 Treasury Securities (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL313161105 Total liabilities 25284.7 26831.6 26016.5 26050.7 26468.7 26831.6 26955.7 27748.0 28649.1 1

 2 FL313161205 Marketable Treasury securities 22557.5 23845.0 23246.1 23253.4 23616.7 23845.0 24282.0 24772.4 25630.2 2

 3 FL313161110 Treasury bills 3768.0 3696.2 3927.3 3522.6 3643.7 3696.2 4067.5 4465.7 5259.3 3

 4 FL313161275 Other Treasury notes, bonds, and TIPS 18783.5 20144.0 19312.8 19725.9 19968.2 20144.0 20209.7 20301.2 20365.3 4

 5 FL313161283 Held in the Civil Service Retirement Fund (2) 6.1 4.8 6.1 4.8 4.8 4.8 4.8 5.5 5.5 5

 6 FL313161305 Nonmarketable Treasury securities 2727.2 2986.6 2770.4 2797.3 2852.0 2986.6 2673.6 2975.6 3018.9 6

 7 FL313161400 U.S. savings securities 146.1 173.4 149.7 160.3 166.2 173.4 177.7 178.2 175.6 7

 8 FL213061120 State and local government series (SLGS) 109.7 99.9 118.3 108.2 109.2 99.9 98.2 90.5 94.2 8

 9 FL343061123 Thrift Savings Plan G Fund 285.7 292.6 313.2 318.5 315.4 292.6 22.3 294.1 293.4 9

 10 FL343061145 Federal govt. defined benefit pension plans 2149.0 2387.6 2153.1 2176.0 2226.4 2387.6 2342.0 2381.1 2423.7 10

 11 FL503061303 Held by Federal Reserve credit facility LLCs 18.1 13.3 18.1 15.3 15.4 13.3 13.4 11.8 11.9 11

 12 FL313161375 Other nonmarketable securities 18.6 19.8 18.1 18.9 19.4 19.8 20.0 19.9 20.2 12

 13 FL893061105 Total assets 25661.5 24610.0 25348.0 24663.1 24189.3 24610.0 25142.5 25559.8 25820.0 13

 14 LM153061105 Household sector 607.6 1633.9 835.4 850.0 1237.7 1633.9 2099.0 2259.9 2404.4 14

 15 FL313161400 U.S. savings securities (line 7) 146.1 173.4 149.7 160.3 166.2 173.4 177.7 178.2 175.6 15

 16 LM153061185 Other Treasury securities 461.5 1460.5 685.8 689.7 1071.5 1460.5 1921.3 2081.8 2228.8 16

 17 LM103061103 Nonfinancial corporate business 79.7 91.7 75.1 81.2 80.6 91.7 92.3 106.6 111.2 17

 18 LM113061003 Nonfinancial noncorporate business 71.3 71.9 67.5 69.4 70.9 71.9 72.0 72.8 73.5 18

 19 LM213061105 State and local governments 1440.7 1563.3 1420.0 1555.5 1529.4 1563.3 1648.9 1645.8 1617.3 19

 20 FL213061120 SLGS (line 8) 109.7 99.9 118.3 108.2 109.2 99.9 98.2 90.5 94.2 20

 21 LM213061103 Other Treasury securities 1331.0 1463.4 1301.7 1447.3 1420.2 1463.4 1550.7 1555.3 1523.1 21

 22 LM713061103 Monetary authority 6052.1 5056.4 5851.4 5563.8 5186.5 5056.4 4960.2 4702.9 4367.4 22

 23 LM713061113 Treasury bills 325.9 286.4 325.4 324.5 307.4 286.4 277.9 266.1 236.0 23

 24 LM713061125 Other Treasury securities 5726.1 4770.0 5526.0 5239.3 4879.1 4770.0 4682.3 4436.8 4131.4 24

 25 LM763061100 U.S.-chartered depository institutions 1472.3 1388.9 1471.3 1488.5 1407.7 1388.9 1301.0 1235.2 1240.9 25

 26 LM753061103 Foreign banking offices in U.S. 86.9 89.5 89.4 96.0 92.5 89.5 92.3 98.8 90.0 26

 27 LM743061103 Banks in U.S.-affiliated areas 19.6 23.5 19.6 23.0 26.8 23.5 23.0 22.8 22.5 27

 28 LM473061105 Credit unions 62.6 78.4 74.0 79.5 79.1 78.4 76.7 77.5 79.9 28

 29 LM513061105 Property-casualty insurance companies 187.9 212.9 164.9 172.7 182.9 212.9 223.0 226.5 254.1 29

 30 LM513061115 Treasury bills 54.3 68.0 37.2 44.7 50.3 68.0 72.5 74.6 99.4 30

 31 LM513061125 Other Treasury securities 133.6 144.9 127.7 128.0 132.7 144.9 150.5 151.9 154.7 31

 32 LM543061105 Life insurance companies 231.4 178.4 209.6 193.4 183.9 178.4 182.9 185.4 180.4 32

 33 LM543061115 Treasury bills 9.4 17.1 10.8 11.6 15.3 17.1 16.2 17.8 18.5 33

 34 LM543061125 Other Treasury securities 222.0 161.3 198.7 181.7 168.7 161.3 166.7 167.6 161.9 34

 35 LM573061105 Private pension funds 507.8 512.1 482.1 475.3 479.9 512.1 566.8 592.3 576.7 35

 36 LM573061143 Defined benefit plans 291.3 275.4 275.1 265.4 263.1 275.4 305.6 322.5 311.6 36

 37 LM573061133 Defined contribution plans 216.5 236.7 207.0 209.9 216.7 236.7 261.1 269.8 265.0 37

 38 LM343061105 Federal government retirement funds (3) 2456.8 2698.2 2487.3 2512.9 2559.0 2698.2 2382.8 2694.5 2735.7 38

 39 LM343061165 Defined benefit plans 2156.2 2393.2 2160.2 2181.8 2232.0 2393.2 2347.6 2387.4 2429.9 39

 40 LM343061155 Defined contribution plans 300.6 305.0 327.0 331.1 327.0 305.0 35.2 307.1 305.8 40

 41 LM223061143 State and local govt. retirement funds 411.3 323.4 379.9 352.2 315.8 323.4 361.7 383.1 379.7 41

 42 FL633061105 Money market funds 1814.7 1064.0 1759.4 1459.0 1256.1 1064.0 1040.8 1244.0 1767.1 42

 43 FL633061110 Treasury bills 1197.1 602.0 1155.5 902.5 767.0 602.0 665.2 888.5 1422.4 43

 44 FL633061120 Other Treasury securities 617.6 462.0 603.9 556.5 489.2 462.0 375.6 355.5 344.8 44

 45 LM653061105 Mutual funds 1594.0 1349.9 1528.3 1427.8 1345.8 1349.9 1370.8 1349.4 1306.1 45

 46 LM653061113 Treasury bills 57.4 12.7 53.4 45.8 22.2 12.7 15.8 12.1 12.8 46

 47 LM653061125 Other Treasury securities 1536.6 1337.2 1474.9 1382.0 1323.7 1337.2 1354.9 1337.4 1293.3 47

 48 LM553061103 Closed-end funds 3.1 2.4 2.9 3.5 2.4 2.4 2.4 2.3 2.2 48

 49 LM563061103 Exchange-traded funds 332.1 400.6 336.3 362.6 381.5 400.6 451.6 460.6 468.6 49

 50 LM403061105 Government-sponsored enterprises 202.4 155.6 210.4 180.6 168.3 155.6 149.8 151.5 150.9 50

 51 FL673061103 ABS issuers 31.9 36.4 34.5 35.7 36.3 36.4 36.4 34.5 33.2 51

 52 LM663061105 Brokers and dealers 99.0 170.7 83.4 89.5 127.0 170.7 265.9 257.9 248.1 52

 53 LM733061103 Holding companies 92.6 133.3 99.8 120.6 130.6 133.3 122.6 121.7 126.4 53

 54 FL503061105 Other financial business 63.6 56.1 61.0 53.4 56.9 56.1 61.6 70.9 67.7 54

 55 LM263061105 Rest of the world 7740.4 7318.5 7604.4 7416.9 7251.5 7318.5 7558.1 7562.9 7516.0 55

 56 LM263061110 Treasury bills 987.4 950.0 1008.4 895.4 919.6 950.0 962.6 921.4 1032.6 56

 57 LM263061120 Other Treasury securities 6753.0 6368.5 6596.0 6521.5 6331.9 6368.5 6595.5 6641.5 6483.4 57

 58 LM903061103 Discrepancy (4) -376.8 2221.6 668.5 1387.5 2279.5 2221.6 1813.2 2188.2 2829.1 58

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds. In the Financial

 Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as opposed to intragovernmental

 holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.

(3) Comprised primarily of nonmarketable Treasury securities.

(4) The accumulated valuation difference between issuance and holdings.
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120 Z.1, December 7, 2023

L.211 Agency- and GSE-Backed Securities (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893161705 Total liabilities 10699.2 11678.6 10926.8 11195.5 11442.4 11678.6 12041.3 11972.4 11902.3 1

 2 FL313161705 Budget agencies 19.8 19.8 19.4 19.7 19.4 19.8 19.7 18.0 19.6 2

 3 FL403161705 Government-sponsored enterprises 8177.6 8970.8 8372.6 8591.9 8785.7 8970.8 9303.7 9189.4 9098.3 3

 4 FL413065005 Agency- and GSE-backed mortgage pools 2501.8 2687.9 2534.8 2583.9 2637.4 2687.9 2717.9 2765.0 2784.4 4

 5 FL893061705 Total assets 11041.4 10701.2 10710.8 10604.8 10369.3 10701.2 11220.9 10995.3 10593.8 5

 6 LM153061705 Household sector 460.8 1077.4 512.6 702.5 889.3 1077.4 1225.2 1159.3 1174.6 6

 7 LM103061703 Nonfinancial corporate business 26.6 30.6 25.0 27.1 26.9 30.6 30.8 35.5 37.1 7

 8 FL313061703 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 LM213061703 State and local governments 415.3 410.1 406.3 408.9 406.6 410.1 420.4 417.4 411.3 9

 10 LM713061705 Monetary authority 2681.1 2292.7 2618.9 2479.6 2320.8 2292.7 2282.9 2199.2 2026.1 10

 11 LM763061705 U.S.-chartered depository institutions 3505.5 2873.0 3374.7 3167.3 2919.1 2873.0 2911.1 2831.3 2655.9 11

 12 LM753061703 Foreign banking offices in U.S. 53.5 48.1 49.3 52.6 52.1 48.1 42.3 45.3 42.7 12

 13 LM743061703 Banks in U.S.-affiliated areas 16.5 16.2 16.9 16.9 16.6 16.2 16.0 15.7 15.7 13

 14 LM473061705 Credit unions 307.5 276.6 305.7 299.9 284.5 276.6 274.8 264.3 249.3 14

 15 LM513061705 Property-casualty insurance companies 136.0 129.2 130.6 128.5 126.0 129.2 134.3 138.9 149.0 15

 16 LM543061705 Life insurance companies 312.3 258.8 292.2 276.6 266.8 258.8 264.0 265.9 265.3 16

 17 LM573061705 Private pension funds 259.2 253.0 250.1 249.3 245.8 253.0 260.7 261.4 262.2 17

 18 LM343061705 Federal government retirement funds 11.7 9.4 11.0 10.2 9.7 9.4 9.7 9.9 9.7 18

 19 LM223061743 State and local govt. retirement funds 198.1 164.3 195.1 182.4 166.5 164.3 138.0 148.7 139.5 19

 20 FL633061700 Money market funds 409.9 579.8 403.4 423.5 492.2 579.8 791.9 754.5 690.2 20

 21 LM653061703 Mutual funds 539.3 529.4 543.4 547.0 518.2 529.4 590.0 645.0 640.2 21

 22 LM403061705 Government-sponsored enterprises 208.4 215.1 201.5 201.6 206.2 215.1 233.5 244.1 248.8 22

 23 FL673061703 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 LM643061773 Mortgage REITs 168.4 149.1 157.5 147.2 155.8 149.1 171.5 172.2 181.0 24

 25 LM663061705 Brokers and dealers 53.8 108.6 21.1 58.1 68.2 108.6 110.0 86.5 120.6 25

 26 LM733061703 Holding companies 24.7 19.2 22.4 21.2 19.6 19.2 19.0 18.6 18.3 26

 27 LM263061705 Rest of the world 1252.6 1260.6 1172.9 1204.7 1178.4 1260.6 1294.8 1281.4 1256.4 27

 28 LM903061703 Discrepancy (2) -342.3 977.4 216.0 590.7 1073.1 977.4 820.5 977.1 1308.6 28

(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 Ginnie Mae, 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 on table L.106, line 25.

(2) The accumulated valuation difference between issuance and holdings.
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Z.1, December 7, 2023 121

L.212 Municipal Securities

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL383162005 Total liabilities 4081.3 4028.8 4064.0 4068.2 4051.7 4028.8 4032.8 4048.4 4037.9 1

 2 FL213162005 State and local governments 3260.7 3208.3 3237.2 3240.7 3230.6 3208.3 3212.1 3222.8 3215.1 2

 3 FL213162400 Short-term (1) 32.9 25.5 27.1 23.3 24.9 25.5 24.6 23.7 26.5 3

 4 FL213162200 Long-term 3227.8 3182.9 3210.1 3217.3 3205.7 3182.9 3187.5 3199.0 3188.6 4

 5 FL163162003 Nonprofit organizations (2) 202.6 201.7 204.6 202.1 201.4 201.7 201.7 204.0 204.0 5

 6 FL103162000 Nonfinancial corporate business 618.0 618.8 622.2 625.4 619.7 618.8 618.9 621.7 618.8 6

 (industrial revenue bonds)

 7 FL893062005 Total assets 4453.0 3883.1 4145.1 3983.8 3801.5 3883.1 3957.3 3946.6 3771.8 7

 8 LM153062005 Household sector 1809.7 1623.1 1657.0 1615.7 1543.2 1623.1 1687.3 1695.3 1627.9 8

 9 LM103062003 Nonfinancial corporate business 27.3 23.8 25.4 24.4 23.3 23.8 24.2 24.2 23.1 9

 10 LM113062003 Nonfinancial noncorporate business 4.7 5.0 4.8 4.9 4.9 5.0 5.1 5.1 5.0 10

 11 LM213062003 State and local governments 22.2 25.9 22.1 22.7 23.3 25.9 28.5 30.4 31.4 11

 12 LM763062000 U.S.-chartered depository institutions 631.3 580.0 609.6 599.7 579.9 580.0 566.8 548.3 519.4 12

 13 LM753062003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 LM743062003 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 14

 15 LM473062005 Credit unions 12.3 10.8 11.9 11.6 11.0 10.8 11.0 10.7 11.1 15

 16 LM513062005 Property-casualty insurance companies 289.4 246.1 271.8 260.7 244.9 246.1 242.8 233.7 215.2 16

 17 LM543062005 Life insurance companies 234.9 192.2 215.2 204.1 191.4 192.2 195.2 191.1 181.5 17

 18 LM343062033 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 LM223062043 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL633062000 Money market funds 110.9 117.9 113.4 117.3 113.2 117.9 114.4 121.0 121.5 20

 21 LM653062003 Mutual funds 990.8 745.8 911.0 823.1 774.3 745.8 764.9 763.9 727.2 21

 22 LM553062003 Closed-end funds 98.3 82.4 90.0 85.8 80.5 82.4 83.8 82.5 79.3 22

 23 LM563062003 Exchange-traded funds 83.3 104.4 83.0 89.9 87.0 104.4 105.7 107.5 107.9 23

 24 LM403062005 Government-sponsored enterprises 2.4 2.2 2.4 2.2 2.2 2.2 2.2 2.1 2.1 24

 25 LM663062003 Brokers and dealers 12.7 12.0 11.0 10.1 14.8 12.0 11.0 15.5 15.0 25

 26 FL503062003 Other financial business 4.1 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 26

 27 LM263062003 Rest of the world 118.7 108.4 113.3 108.5 104.8 108.4 111.5 112.3 101.1 27

 28 LM903062003 Discrepancy (3) -371.7 145.7 -81.1 84.4 250.2 145.7 75.5 101.8 266.1 28

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

(3) The accumulated valuation difference between issuance and holdings.
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L.213 Corporate and Foreign Bonds

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893163005 Total liabilities 15407.5 15100.4 15360.2 15110.5 14914.3 15100.4 15351.0 15375.7 15285.1 1

 2 FL103163005 Nonfinancial corporate business 7176.5 7196.6 7222.8 7184.6 7190.4 7196.6 7356.0 7386.3 7397.4 2

 3 FL793163005 Domestic financial sectors 4434.4 4522.5 4472.3 4463.8 4382.7 4522.5 4534.6 4545.2 4539.2 3

 4 FL763163005 U.S.-chartered depository institutions 191.7 269.6 210.0 230.6 233.6 269.6 246.2 261.1 274.0 4

 5 FL673163005 ABS issuers (net) (1) 1256.4 1271.6 1251.9 1256.7 1271.7 1271.6 1295.9 1297.7 1322.1 5

 6 FL613163005 Finance companies 1028.0 996.1 1016.5 1005.6 979.8 996.1 1007.7 1034.5 1039.8 6

 7 FL643163075 Mortgage REITs 203.8 216.7 209.5 213.8 210.6 216.7 216.5 211.8 208.9 7

 8 FL663163003 Brokers and dealers 217.7 236.1 260.8 249.2 223.6 236.1 229.3 211.2 221.0 8

 9 FL733163005 Holding companies 1536.8 1532.2 1523.6 1507.8 1463.4 1532.2 1539.0 1528.8 1473.3 9

 10 FL503163003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM263163005 Rest of the world (2) 3796.7 3381.4 3665.1 3462.1 3341.2 3381.4 3460.3 3444.2 3348.5 11

 12 FL893063005 Total assets (3) 15638.0 13468.1 14706.0 13625.7 13085.7 13468.1 13922.4 13977.9 13624.8 12

 13 LM153063005 Household sector 381.2 258.5 254.2 253.1 253.0 258.5 263.8 266.8 268.0 13

 14 LM123063003 Nonfinancial corporate business (equity REITs) 19.8 18.3 23.3 19.1 18.2 18.3 17.8 17.4 17.7 14

 15 FL313063763 Federal government 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 15

 16 LM213063003 State and local governments 192.4 146.9 169.7 155.0 143.7 146.9 151.8 151.7 149.1 16

 17 LM763063005 U.S.-chartered depository institutions 710.6 778.7 787.6 761.7 753.2 778.7 796.4 792.1 736.7 17

 18 LM763063605 MBS and other ABS 118.8 121.1 126.5 127.1 124.3 121.1 119.9 117.2 112.6 18

 19 LM763063095 Other 591.8 657.6 661.0 634.5 629.0 657.6 676.5 674.8 624.1 19

 20 LM753063005 Foreign banking offices in U.S. 145.6 160.1 142.1 146.9 159.8 160.1 145.8 146.3 143.5 20

 21 LM743063005 Banks in U.S.-affiliated areas 11.3 11.1 11.3 11.2 11.1 11.1 11.1 11.0 30.7 21

 22 LM473063005 Credit unions 20.6 19.5 22.6 22.6 20.9 19.5 18.8 18.1 18.5 22

 23 LM473063605 MBS and other ABS 19.7 18.7 21.7 21.7 20.1 18.7 18.1 17.4 17.9 23

 24 LM473063095 Other 0.8 0.8 0.9 0.8 0.8 0.8 0.7 0.7 0.7 24

 25 LM513063005 Property-casualty insurance companies 702.4 649.2 674.9 640.8 626.0 649.2 685.3 685.2 675.7 25

 26 LM513063605 MBS and other ABS 152.4 128.1 131.0 125.1 123.0 128.1 135.4 135.7 134.1 26

 27 LM513063095 Other 550.1 521.1 544.0 515.7 503.0 521.1 549.9 549.4 541.6 27

 28 LM543063005 Life insurance companies 3632.5 3141.8 3386.0 3166.3 3017.8 3141.8 3286.1 3274.0 3177.8 28

 29 LM543063675 MBS and other ABS 616.0 638.1 624.0 603.4 594.8 638.1 665.9 659.3 637.4 29

 30 LM543063095 Other 3016.5 2503.7 2762.0 2563.0 2423.1 2503.7 2620.2 2614.7 2540.3 30

 31 LM573063005 Private pension funds 1012.2 879.2 936.8 882.0 841.8 879.2 916.8 921.0 899.9 31

 32 LM343063005 Federal government retirement funds 15.0 12.3 13.7 12.0 11.4 12.3 12.8 13.0 12.5 32

 33 LM223063045 State and local govt. retirement funds 558.5 536.1 546.5 528.6 547.4 536.1 613.5 576.1 569.3 33

 34 FL633063005 Money market funds 7.2 6.4 5.6 3.8 6.3 6.4 9.3 9.8 9.1 34

 35 LM653063005 Mutual funds 2734.1 2129.2 2533.2 2253.1 2134.6 2129.2 2167.0 2168.8 2090.6 35

 36 LM553063003 Closed-end funds 85.3 68.4 80.5 69.7 67.2 68.4 67.5 67.1 65.8 36

 37 LM563063003 Exchange-traded funds 800.0 753.6 761.2 720.8 708.8 753.6 779.6 803.5 789.7 37

 38 LM403063005 Government-sponsored enterprises 12.3 12.6 12.1 12.2 12.4 12.6 13.2 13.9 14.5 38

 39 LM403063605 MBS and other ABS 9.3 10.1 9.2 9.5 9.8 10.1 10.9 11.7 12.3 39

 40 LM403063095 Other 3.0 2.5 2.9 2.7 2.6 2.5 2.3 2.2 2.1 40

 41 LM613063003 Finance companies 68.3 52.0 59.0 50.9 47.9 52.0 40.9 38.3 38.2 41

 42 LM643063073 Mortgage REITs 11.9 9.9 11.8 9.8 10.2 9.9 9.8 9.6 10.1 42

 43 LM663063005 Brokers and dealers 14.8 1.1 1.2 2.0 13.0 1.1 5.5 16.0 26.9 43

 44 LM733063003 Holding companies 29.2 28.9 26.7 24.7 26.2 28.9 26.5 25.6 29.1 44

 45 FL503063005 Other financial business 70.9 69.6 79.2 78.6 71.7 69.6 72.3 71.9 70.9 45

 46 LM263063005 Rest of the world (4) 4401.6 3724.3 4166.4 3800.3 3582.6 3724.3 3810.4 3880.2 3780.2 46

 47 LM263063603 MBS and other ABS 355.5 344.8 350.3 348.4 348.5 344.8 348.4 353.4 360.4 47

 48 LM263063095 Other 4046.1 3379.5 3816.1 3452.0 3234.1 3379.5 3461.9 3526.8 3419.9 48

 49 LM903063003 Discrepancy (5) -230.4 1632.3 654.2 1484.8 1828.6 1632.3 1428.6 1397.8 1660.3 49

(1) Liabilities net of assets.

(2) Holdings of foreign issues by U.S. residents.

(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.

(5) The accumulated valuation difference between issuance and holdings.
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L.214 Loans (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FL894123005 Total loans 32646.9 35353.7 33419.5 34246.3 34825.6 35353.7 35958.2 35690.1 35759.4 1

 2 FL793068005 Depository institution loans n.e.c. 4344.8 4904.6 4493.0 4699.3 4781.3 4904.6 4928.2 4916.1 4910.4 2

 3 FL893169005 Other loans and advances 5441.3 5969.7 5772.1 5857.6 5935.2 5969.7 6416.4 5948.6 5848.2 3

 4 FL893065005 Mortgages 18312.2 19585.3 18577.5 18995.3 19319.7 19585.3 19727.1 19884.7 20033.5 4

 5 FL893065105 One-to-four-family residential 12784.1 13614.9 12941.0 13220.0 13448.9 13614.9 13676.5 13774.1 13863.5 5

 6 FL893065405 Multifamily residential 1910.4 2075.0 1952.1 1995.8 2034.9 2075.0 2107.4 2135.8 2163.5 6

 7 FL893065505 Commercial 3293.3 3560.6 3357.5 3450.0 3503.8 3560.6 3603.5 3630.0 3656.5 7

 8 FL893065603 Farm 324.4 334.8 327.0 329.6 332.2 334.8 339.8 344.8 349.9 8

 9 FL153166000 Consumer credit 4548.5 4894.0 4577.0 4694.1 4789.3 4894.0 4886.5 4940.8 4967.3 9

 By sector

 10 FL894123005 Total liabilities 32646.9 35353.7 33419.5 34246.3 34825.6 35353.7 35958.2 35690.1 35759.4 10

 11 FL384123005 Domestic nonfinancial sectors 29725.9 31961.1 30339.7 31055.3 31521.9 31961.1 32357.8 32290.5 32470.2 11

 12 FL154123005 Household sector 18105.7 19182.0 18294.0 18647.1 18966.7 19182.0 19207.4 19365.8 19507.0 12

 13 FL104123005 Nonfinancial corporate business 4708.4 5433.9 5014.1 5251.8 5319.8 5433.9 5461.8 5478.6 5487.1 13

 14 FL114123005 Nonfinancial noncorporate business 6889.2 7321.9 7009.0 7133.6 7212.5 7321.9 7392.2 7422.3 7452.3 14

 15 FL314123005 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 272.8 0.0 0.0 15

 16 FL213169203 State and local governments 22.6 23.3 22.7 22.8 22.9 23.3 23.6 23.7 23.7 16

 17 FL794123005 Domestic financial sectors 2118.7 2466.7 2250.8 2312.8 2378.2 2466.7 2642.7 2435.4 2305.3 17

 18 FL763169305 U.S.-chartered depository institutions 176.6 585.7 202.1 325.1 445.6 585.7 810.3 629.8 573.3 18

 19 FL473169333 Credit unions 40.7 96.7 42.3 59.9 77.6 96.7 87.7 85.0 89.3 19

 20 FL513169333 Property-casualty insurance companies 7.0 5.2 6.3 5.8 5.1 5.2 4.7 4.4 4.2 20

 21 FL543169373 Life insurance companies 110.8 132.4 121.9 129.2 132.2 132.4 139.0 135.5 138.3 21

 22 FL403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL614123005 Finance companies 299.4 241.3 252.7 238.4 237.0 241.3 228.6 237.7 235.7 23

 24 FL644123075 Mortgage REITs 3.4 3.8 3.1 3.7 4.3 3.8 4.9 4.9 5.0 24

 25 FL664123005 Brokers and dealers 1182.1 1138.7 1311.7 1264.6 1202.8 1138.7 1102.6 1088.1 1036.8 25

 26 FL504123005 Other financial business 298.7 262.9 310.5 286.1 273.6 262.9 264.7 250.0 222.8 26

 27 FL264123005 Rest of the world 802.3 925.9 829.1 878.2 925.5 925.9 957.7 964.2 983.9 27

 28 FL894123005 Total assets 32646.9 35353.7 33419.5 34246.3 34825.6 35353.7 35958.2 35690.1 35759.4 28

 29 FL384023005 Domestic nonfinancial sectors 3871.7 4013.9 4053.7 4063.5 4033.5 4013.9 4010.1 3969.3 3889.5 29

 30 FL154023005 Household sector 1296.2 1214.6 1398.5 1347.8 1280.4 1214.6 1185.2 1184.2 1117.6 30

 31 FL104023005 Nonfinancial corporate business 149.0 184.9 157.9 177.3 180.1 184.9 194.2 199.1 203.4 31

 32 FL114023005 Nonfinancial noncorporate business 51.6 55.4 52.8 53.9 54.6 55.4 55.7 56.2 56.3 32

 33 FL314023005 Federal government 2105.9 2282.4 2173.6 2211.7 2243.7 2282.4 2296.4 2249.3 2229.7 33

 34 FL213065005 State and local governments 269.0 276.6 270.9 272.8 274.7 276.6 278.5 280.5 282.5 34

 35 FL794023005 Domestic financial sectors 27738.0 30209.3 28282.7 29093.1 29709.5 30209.3 30820.2 30594.2 30744.3 35

 36 FL713068005 Monetary authority 42.2 22.9 34.1 28.4 26.1 22.9 20.9 17.7 15.3 36

 37 FL764023005 U.S.-chartered depository institutions 10437.9 11438.5 10535.3 10957.7 11205.5 11438.5 11502.9 11591.5 11637.0 37

 38 FL754023005 Foreign banking offices in U.S. 869.9 1043.6 897.3 940.0 967.5 1043.6 1042.1 1021.0 1038.0 38

 39 FL744023003 Banks in U.S.-affiliated areas 37.2 38.9 37.2 37.6 38.5 38.9 37.8 38.5 40.0 39

 40 FL474023000 Credit unions 1286.2 1531.2 1328.3 1411.4 1482.5 1531.2 1555.2 1587.6 1619.4 40

 41 FL513065505 Property-casualty insurance companies 27.7 30.4 29.6 30.4 30.9 30.4 30.5 31.8 31.9 41

 42 FL544023005 Life insurance companies 858.3 925.5 878.4 897.2 912.2 925.5 938.3 951.4 964.4 42

 43 FL573065005 Private pension funds 25.5 26.3 25.6 25.8 26.0 26.3 26.5 26.7 26.9 43

 44 FL313169003 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 272.8 0.0 0.0 44

 45 FL223065043 State and local govt. retirement funds 6.8 6.5 6.7 6.5 7.3 6.5 7.5 7.4 7.6 45

 46 FL653069803 Mutual funds 144.2 125.4 164.8 154.2 140.2 125.4 115.2 107.7 109.7 46

 47 FL404023005 Government-sponsored enterprises 7423.9 8326.2 7661.2 7898.3 8107.6 8326.2 8551.4 8399.3 8399.2 47

 48 FL413065005 Agency- and GSE-backed mortgage pools 2501.8 2687.9 2534.8 2583.9 2637.4 2687.9 2717.9 2765.0 2784.4 48

 49 FL674023005 ABS issuers 1162.8 1216.6 1185.4 1209.5 1225.6 1216.6 1231.1 1232.2 1240.2 49

 50 FL614023005 Finance companies 1571.2 1607.6 1568.4 1577.6 1582.1 1607.6 1608.2 1654.3 1676.9 50

 51 FL643065075 Mortgage REITs 287.7 296.5 290.9 298.7 293.3 296.5 294.5 285.2 280.4 51

 52 FL663069005 Brokers and dealers 840.0 661.5 855.5 821.2 806.8 661.5 643.7 638.4 635.4 52

 53 FL733069005 Holding companies 130.2 151.2 150.5 145.5 150.4 151.2 145.2 150.4 145.8 53

 54 FL503069005 Other financial business 84.5 72.6 98.8 69.2 69.7 72.6 78.5 88.0 91.6 54

 55 FL263069005 Rest of the world 1037.2 1130.5 1083.1 1089.7 1082.6 1130.5 1127.9 1126.6 1125.6 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
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L.215 Depository Institution Loans Not Elsewhere Classified (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL793068005 Total liabilities 4344.8 4904.6 4493.0 4699.3 4781.3 4904.6 4928.2 4916.1 4910.4 1

 2 FL153168005 Household sector 423.0 492.5 437.6 457.8 469.1 492.5 471.2 465.4 465.1 2

 3 FL103168005 Nonfinancial corporate business 1123.0 1475.4 1270.9 1392.9 1417.1 1475.4 1492.3 1488.1 1475.0 3

 4 FL113168005 Nonfinancial noncorporate business 1555.8 1633.6 1572.6 1598.0 1608.1 1633.6 1643.3 1637.5 1618.6 4

 5 FL793168005 Domestic financial sectors 494.8 440.6 442.5 436.6 435.4 440.6 424.5 418.3 424.8 5

 6 FL613168005 Finance companies 299.3 241.2 252.6 238.3 236.9 241.2 228.5 237.6 235.6 6

 7 FL643168073 Mortgage REITs 3.1 3.6 2.8 3.5 4.1 3.6 4.7 4.8 4.9 7

 8 FL663168005 Brokers and dealers 171.3 180.6 168.3 177.2 177.8 180.6 176.9 162.7 172.4 8

 9 FL713068505 Other financial business (2) 21.0 15.3 18.8 17.7 16.6 15.3 14.4 13.3 12.0 9

 10 FL263168005 Rest of the world 748.2 862.4 769.3 814.0 851.6 862.4 896.9 906.8 926.9 10

 11 FL263168465 Foreign official institutions 3.5 3.6 3.3 2.8 3.1 3.6 2.8 2.8 3.1 11

 12 FL263168485 Foreign nonfinancial corporations 198.8 214.6 205.0 208.5 210.4 214.6 212.4 205.3 207.7 12

 13 FL263168495 Foreign nondepository financial institutions 545.9 644.2 561.1 602.7 638.1 644.2 681.7 698.6 716.1 13

 14 FL793068005 Total assets 4344.8 4904.6 4493.0 4699.3 4781.3 4904.6 4928.2 4916.1 4910.4 14

 15 FL713068005 Monetary authority (3) 42.2 22.9 34.1 28.4 26.1 22.9 20.9 17.7 15.3 15

 16 FL763068005 U.S.-chartered depository institutions 3421.5 3703.6 3453.3 3609.7 3658.6 3703.6 3726.0 3730.1 3701.5 16

 17 FL753068005 Foreign banking offices in U.S. 778.8 937.1 802.4 840.3 864.4 937.1 935.6 912.5 931.9 17

 18 FL743068005 Banks in U.S.-affiliated areas 15.8 17.2 15.9 16.3 16.8 17.2 16.7 17.5 18.7 18

 19 FL473068005 Credit unions 86.6 223.8 187.3 204.6 215.4 223.8 229.0 238.2 243.0 19

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to Federal Reserve funding, credit, and liquidity facility special purpose vehicles.

(3) Loans from Federal Reserve banks to the household, broker and dealer, finance companies, and other financial business sectors.
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L.216 Other Loans and Advances (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893169005 Total other loans and advances 5441.3 5969.7 5772.1 5857.6 5935.2 5969.7 6416.4 5948.6 5848.2 1

 2 FL163069005 Nonprofit organization loans 148.0 150.5 148.6 149.2 149.8 150.5 151.0 151.6 152.1 2

 3 FL153169055 Liab.: Household sector 114.8 116.1 115.2 115.5 115.8 116.1 116.3 116.6 116.9 3

 4 FL163069043 Nonfinancial noncorporate business 33.2 34.4 33.5 33.8 34.1 34.4 34.7 35.0 35.3 4

 5 FL313069205 U.S. government loans 536.3 626.9 583.6 616.3 621.3 626.9 627.0 588.3 588.5 5

 6 FL153169203 Liab.: Household sector 57.8 64.9 59.7 61.8 63.7 64.9 65.9 67.3 67.3 6

 7 FL103169205 Nonfinancial corporate business 255.9 306.3 284.3 303.1 304.9 306.3 304.6 280.3 280.3 7

 8 FL113169205 Nonfinancial noncorporate business 169.7 202.8 186.5 198.2 199.8 202.8 202.5 187.4 187.4 8

 9 FL213169203 State and local governments 22.6 23.3 22.7 22.8 22.9 23.3 23.6 23.7 23.7 9

 10 FL403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FL313069223 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL503169205 Other financial business 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 12

 13 FL263169203 Rest of the world 28.0 27.4 28.0 28.1 27.7 27.4 28.0 27.2 27.4 13

 14 FL153169405 Policy loans (Household liability) 129.0 128.5 126.6 126.9 127.2 128.5 130.4 130.1 132.5 14

 15 FL313069403 Asset: Federal government 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 15

 16 FL543069405 Life insurance companies 128.8 128.4 126.5 126.7 127.1 128.4 130.2 129.9 132.4 16

 17 FL313169003 Federal government retirement funds loans 0.0 0.0 0.0 0.0 0.0 0.0 272.8 0.0 0.0 17

 18 FL313169003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 272.8 0.0 0.0 18

 19 FL403069330 Federal Home Loan Banks advances (2) 335.4 820.4 373.1 520.3 660.8 820.4 1042.1 855.0 805.4 19

 20 FL763169335 Liab.: U.S.-chartered depository institutions 176.6 585.7 202.1 325.1 445.6 585.7 810.3 629.8 573.3 20

 21 FL473169333 Credit unions 40.7 96.7 42.3 59.9 77.6 96.7 87.7 85.0 89.3 21

 22 FL513169333 Property-casualty insurance companies 7.0 5.2 6.3 5.8 5.1 5.2 4.7 4.4 4.2 22

 23 FL543169373 Life insurance companies 110.8 132.4 121.9 129.2 132.2 132.4 139.0 135.5 138.3 23

 24 FL613169333 Finance companies 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 24

 25 FL643169373 Mortgage REITs 0.3 0.2 0.3 0.3 0.2 0.2 0.2 0.2 0.1 25

 26 FL403069395 Government-sponsored enterprise (GSE) loans (3) 164.4 182.3 177.9 172.0 172.6 182.3 187.4 188.1 193.1 26

 27 FL153169305 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FL183169305 Nonfinancial corporate business (FCS) 16.3 18.2 21.3 19.0 17.6 18.2 20.2 18.5 18.3 28

 29 FL113169305 Nonfinancial noncorporate business (FCS) 148.2 164.1 156.7 153.0 155.0 164.1 167.2 169.6 174.8 29

 30 FL763169383 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FL663067005 Margin accounts at brokers and dealers 574.7 404.2 582.9 542.7 539.9 404.2 391.1 411.7 438.4 31

 32 FL663067003 Liab.: Household sector 517.6 381.6 519.2 466.9 458.6 381.6 370.5 380.5 402.0 32

 33 FL663067063 Brokers and dealers 57.2 22.6 63.7 75.8 81.3 22.6 20.6 31.2 36.4 33

 34 FL663167015 Cash accounts at brokers and dealers 953.6 935.5 1079.8 1011.5 943.7 935.5 905.1 894.2 828.0 34

 35 FL153067005 Asset: Household sector 942.6 876.3 1046.1 996.5 930.6 876.3 847.3 849.3 784.2 35

 36 FL263067005 Rest of the World (net) 11.1 59.2 33.6 15.0 13.2 59.2 57.9 44.8 43.8 36

 37 FL503169023 Clearing funds at other financial business 275.3 245.3 289.4 266.1 254.6 245.3 248.0 234.3 208.4 37

 38 FL763069023 Asset: U.S.-chartered depository institutions 18.1 14.9 14.0 14.0 13.5 14.9 18.1 18.4 19.4 38

 39 FL663069025 Brokers and dealers 199.5 182.4 203.3 210.4 197.9 182.4 175.4 150.5 119.7 39

 40 FL503069025 Other financial business 57.7 48.0 72.1 41.7 43.2 48.0 54.5 65.4 69.4 40

 41 FL103169803 Loans to nonfinancial corporate business (4) 621.3 652.2 657.5 663.6 667.0 652.2 645.8 636.4 633.7 41

 42 FL153069803 Asset: Household sector 97.0 91.4 97.9 99.7 100.6 91.4 90.9 89.1 88.5 42

 43 FL543069873 Life insurance companies 38.6 40.0 39.6 39.2 41.8 40.0 39.3 39.4 38.0 43

 44 FL653069803 Mutual funds 144.2 125.4 164.8 154.2 140.2 125.4 115.2 107.7 109.7 44

 45 FL673069803 ABS issuers 265.8 308.7 275.0 289.6 302.6 308.7 311.2 312.1 307.2 45

 46 FL663069803 Brokers and dealers 65.8 74.9 69.3 68.1 69.0 74.9 77.2 76.2 77.4 46

 47 FL503069805 Other financial business 10.0 11.8 10.9 12.8 12.8 11.8 12.1 11.9 12.9 47

 48 FL673069505 Securitized loans held by ABS issuers 6.5 4.9 6.1 5.1 4.5 4.9 4.6 4.5 5.0 48

 49 FL673069505 Liab.: Nonfinancial corporate business 6.5 4.9 6.1 5.1 4.5 4.9 4.6 4.5 5.0 49

 50 FL613069505 Finance company loans to business 523.6 583.8 531.0 549.1 560.2 583.8 584.0 611.4 626.1 50

 51 FL103169535 Liab.: Nonfinancial corporate business 455.6 520.7 466.5 486.1 498.2 520.7 521.8 548.0 562.0 51

 52 FL113169535 Nonfinancial noncorporate business 68.0 63.1 64.5 62.9 62.0 63.1 62.2 63.4 64.0 52

 53 FL733069005 Holding company loans 130.2 151.2 150.5 145.5 150.4 151.2 145.2 150.4 145.8 53

 54 FL733069013 Liab.: Nonfinancial corporate business 104.1 115.1 118.7 109.4 104.2 115.1 112.4 120.2 116.2 54

 55 FL733069023 Rest of the world 26.2 36.1 31.8 36.1 46.2 36.1 32.8 30.2 29.6 55

 56 FL503069075 Other financial business loans (5) 16.8 12.8 15.8 14.7 13.7 12.8 11.8 10.7 9.4 56

 57 FL503069003 Liab.: Household sector (TALF II) 1.3 1.0 1.3 1.1 1.1 1.0 0.9 0.8 0.3 57

 58 FL503069013 Nonfinancial corporate business (MSLF) 5.5 4.0 5.2 4.9 4.5 4.0 3.7 3.4 3.1 58

 59 FL503069023 Nonfinancial noncorporate business (MSLF) 9.9 7.7 9.3 8.7 8.1 7.7 7.2 6.5 6.0 59

 60 FL503069033 Nonprofit organizations (MSLF) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 60

 61 FL263069500 Foreign loans to U.S. corporate business 1026.1 1071.3 1049.5 1074.6 1069.4 1071.3 1070.1 1081.8 1081.9 61

 62 FL263069500 Liab.: Nonfinancial corporate business 1026.1 1071.3 1049.5 1074.6 1069.4 1071.3 1070.1 1081.8 1081.9 62

(1) Customers’ liability on acceptances outstanding are included elsewhere beginning 2008q3 and are no longer shown on the table. These are assets of U.S.-chartered depository institutions

 and foreign banking offices in U.S., and liabilities of nonfinancial corporate business and rest of the world.

(2) The government-sponsored enterprises sector includes Federal Home Loan Banks. Finance companies and real estate investment trusts receive advances through affiliated captive insurance companies.

(3) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 19.

(4) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.

(5) 2020 Term Asset-Backed Securities Loan Facility (TALF II) loans to domestic hedge funds and private equity funds and Main Street Lending Facility (MSLF) loans.
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L.217 Total Mortgages (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893065005 Total mortgages 18312.2 19585.3 18577.5 18995.3 19319.7 19585.3 19727.1 19884.7 20033.5 1

 2 FL893065105 One-to-four-family residential 12784.1 13614.9 12941.0 13220.0 13448.9 13614.9 13676.5 13774.1 13863.5 2

 3 FL893065405 Multifamily residential 1910.4 2075.0 1952.1 1995.8 2034.9 2075.0 2107.4 2135.8 2163.5 3

 4 FL893065505 Commercial 3293.3 3560.6 3357.5 3450.0 3503.8 3560.6 3603.5 3630.0 3656.5 4

 5 FL893065603 Farm 324.4 334.8 327.0 329.6 332.2 334.8 339.8 344.8 349.9 5

 6 FL893065005 Total liabilities 18312.2 19585.3 18577.5 18995.3 19319.7 19585.3 19727.1 19884.7 20033.5 6

 7 FL153165005 Household sector 12313.6 13103.4 12457.4 12723.0 12941.8 13103.4 13165.6 13264.3 13355.6 7

 8 FL143165005 Nonfinancial business 5998.6 6482.0 6120.1 6272.2 6377.9 6482.0 6561.5 6620.4 6677.9 8

 9 FL103165005 Corporate 1094.2 1265.7 1134.1 1193.2 1232.5 1265.7 1286.3 1297.4 1311.6 9

 10 FL113165005 Noncorporate 4904.4 5216.3 4986.0 5079.1 5145.4 5216.3 5275.2 5323.0 5366.3 10

 11 FL313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL893065005 Total assets 18312.2 19585.3 18577.5 18995.3 19319.7 19585.3 19727.1 19884.7 20033.5 12

 13 FL153065005 Household sector 86.6 77.7 84.5 82.0 79.9 77.7 77.4 76.0 75.4 13

 14 FL103065005 Nonfinancial corporate business 113.2 149.1 123.2 142.3 145.1 149.1 159.5 164.2 168.4 14

 15 FL113065005 Nonfinancial noncorporate business 51.6 55.4 52.8 53.9 54.6 55.4 55.7 56.2 56.3 15

 16 FL313065005 Federal government 133.1 168.0 134.9 138.2 143.1 168.0 169.7 170.7 173.7 16

 17 FL313065015 Ginnie Mae 2.0 23.2 1.9 1.8 1.8 23.2 23.0 22.3 21.7 17

 18 FL313065075 Farmers Home Administration (FmHA) (2) 111.7 116.0 112.2 113.3 114.0 116.0 117.1 117.9 120.4 18

 19 FL313065035 Federal Housing Administration (FHA) 19.5 28.7 20.9 23.1 27.3 28.7 29.6 30.5 31.6 19

 20 FL313065095 Other (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL213065005 State and local governments 269.0 276.6 270.9 272.8 274.7 276.6 278.5 280.5 282.5 21

 22 FL703065005 Private depository institutions 5952.5 6489.2 5948.4 6163.8 6351.5 6489.2 6568.2 6633.9 6694.8 22

 23 FL763065005 U.S.-chartered depository institutions 5172.5 5690.2 5238.4 5420.4 5575.9 5690.2 5759.3 5809.0 5854.8 23

 24 FL753065005 Foreign banking offices in U.S. 91.1 106.6 94.9 99.7 103.1 106.6 106.5 108.5 106.1 24

 25 FL743065003 Banks in U.S.-affiliated areas 21.4 21.7 21.3 21.3 21.7 21.7 21.1 21.0 21.3 25

 26 FL473065100 Credit unions 667.5 670.7 593.8 622.4 650.8 670.7 681.2 695.4 712.5 26

 27 FL513065505 Property-casualty insurance companies 27.7 30.4 29.6 30.4 30.9 30.4 30.5 31.8 31.9 27

 28 FL543065005 Life insurance companies 690.9 757.1 712.3 731.2 743.3 757.1 768.7 782.0 793.9 28

 29 FL573065005 Private pension funds 25.5 26.3 25.6 25.8 26.0 26.3 26.5 26.7 26.9 29

 30 FL223065043 State and local govt. retirement funds 6.8 6.5 6.7 6.5 7.3 6.5 7.5 7.4 7.6 30

 31 FL403065005 Government-sponsored enterprises 6924.1 7323.6 7110.2 7206.0 7274.2 7323.6 7321.9 7356.2 7400.8 31

 32 FL403065015 Fannie Mae 3899.0 4075.6 3989.5 4039.7 4058.7 4075.6 4072.6 4084.5 4100.3 32

 33 FL403065025 Freddie Mac 2789.8 3003.0 2883.3 2925.5 2972.6 3003.0 3005.9 3025.3 3049.4 33

 34 FL403065045 Farm Credit System 171.4 179.8 173.4 176.0 178.1 179.8 178.2 179.5 182.1 34

 35 FL403065035 FHLB 55.5 56.1 55.5 55.8 56.1 56.1 56.3 57.7 59.9 35

 36 FL403065653 Farmer Mac 8.3 9.0 8.5 8.9 8.8 9.0 8.9 9.1 9.1 36

 37 FL413065005 Agency- and GSE-backed mortgage pools 2501.8 2687.9 2534.8 2583.9 2637.4 2687.9 2717.9 2765.0 2784.4 37

 38 FL413065015 Ginnie Mae 2149.2 2337.1 2182.3 2229.4 2284.5 2337.1 2370.0 2418.2 2436.4 38

 39 FL413065025 Freddie Mac 346.7 345.1 346.6 348.6 347.1 345.1 342.1 340.5 341.8 39

 40 FL413065045 Fannie Mae 4.7 4.6 4.7 4.7 4.6 4.6 4.5 4.5 4.5 40

 41 FL413065653 Farmer Mac 1.3 1.2 1.2 1.2 1.2 1.2 1.2 1.8 1.8 41

 42 FL413065035 Farmers Home Administration (FmHA) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 FL673065005 ABS issuers 889.2 900.0 903.1 913.4 916.2 900.0 912.3 912.6 924.4 43

 44 FL613065000 Finance companies 352.6 341.1 349.6 346.4 342.2 341.1 338.2 336.4 332.1 44

 45 FL643065075 Mortgage REITs 287.7 296.5 290.9 298.7 293.3 296.5 294.5 285.2 280.4 45

(1) Sum of one-to-four-family residential mortgages (table L.218), multifamily residential mortgages (table L.219), commercial mortgages (table L.220), and farm mortgages (table L.221).

(2) FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting changes by

 the Farmers Home Administration.

(3) Other includes Department of Veterans Affairs, Federal Financing Bank, Public Housing Administration, and Resolution Trust Corporation.
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L.218 One-to-four-family Residential Mortgages (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893065105 Total liabilities 12784.1 13614.9 12941.0 13220.0 13448.9 13614.9 13676.5 13774.1 13863.5 1

 2 FL153165105 Household sector 11923.5 12693.1 12062.3 12322.9 12536.6 12693.1 12748.8 12841.1 12925.8 2

 3 FL103165105 Nonfinancial corporate business 18.8 22.2 19.7 20.7 21.8 22.2 22.3 21.7 21.2 3

 4 FL113165105 Nonfinancial noncorporate business 841.8 899.6 858.9 876.4 890.5 899.6 905.3 911.2 916.5 4

 5 FL893065105 Total assets 12784.1 13614.9 12941.0 13220.0 13448.9 13614.9 13676.5 13774.1 13863.5 5

 6 FL153065103 Household sector 64.8 61.3 64.0 63.1 62.2 61.3 60.5 59.6 58.7 6

 7 FL103065105 Nonfinancial corporate business 32.6 40.1 34.4 36.2 38.1 40.1 42.3 44.6 47.0 7

 8 FL113065103 Nonfinancial noncorporate business 18.8 20.2 19.2 19.6 19.9 20.2 20.3 20.5 20.5 8

 9 FL313065105 Federal government 32.6 63.1 33.8 36.0 40.0 63.1 63.8 64.1 64.9 9

 10 FL213065103 State and local governments 137.4 140.9 138.2 139.1 140.0 140.9 141.8 142.7 143.7 10

 11 FL763065105 U.S.-chartered depository institutions 2606.2 2853.2 2620.9 2725.8 2804.1 2853.2 2875.8 2891.1 2910.9 11

 12 FL753065103 Foreign banking offices in U.S. 1.2 0.9 1.1 1.1 1.0 0.9 0.9 0.8 0.7 12

 13 FL743065103 Banks in U.S.-affiliated areas 12.0 11.4 11.7 11.5 11.4 11.4 11.0 11.0 11.2 13

 14 FL473065100 Credit unions 667.5 670.7 593.8 622.4 650.8 670.7 681.2 695.4 712.5 14

 15 FL543065105 Life insurance companies 49.2 64.7 53.4 57.6 60.9 64.7 65.6 66.6 67.7 15

 16 FL573065103 Private pension funds 0.4 0.2 0.3 0.3 0.3 0.2 0.2 0.2 0.1 16

 17 FL223065143 State and local govt. retirement funds 2.4 2.3 2.4 2.3 2.6 2.3 2.7 2.7 2.7 17

 18 FL403065105 Government-sponsored enterprises 6312.7 6660.6 6490.5 6579.5 6639.5 6660.6 6652.1 6671.3 6699.4 18

 19 FL413065105 Agency- and GSE-backed mortgage pools 2044.4 2222.6 2074.3 2120.2 2172.9 2222.6 2253.4 2298.9 2316.7 19

 20 FL673065105 ABS issuers 412.2 423.9 418.9 424.1 427.6 423.9 427.3 429.0 431.9 20

 21 FL613065105 Finance companies 310.6 300.7 306.6 303.2 300.9 300.7 298.2 297.3 295.1 21

 22 FL643065173 Mortgage REITs 79.1 78.0 77.5 77.9 76.5 78.0 79.3 78.3 79.7 22

 Memo:

 23 FL893065125 Home equity loans included above (2) 446.2 478.1 436.7 452.0 466.1 478.1 480.8 489.5 501.0 23

 24 FL763065125 U.S.-chartered depository institutions 292.9 305.3 288.5 295.2 301.0 305.3 303.5 304.5 307.1 24

 25 FL753065203 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FL473065125 Credit unions 86.2 108.7 82.4 91.7 100.8 108.7 113.5 120.7 129.6 26

 27 FL673065123 ABS issuers 4.9 3.9 4.5 4.4 4.1 3.9 4.1 4.9 5.3 27

 28 FL613065123 Finance companies 62.1 60.1 61.3 60.6 60.2 60.1 59.6 59.5 59.0 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; amounts outstanding end of period, not seasonally adjusted

 1 FL893065405 Total liabilities 1910.4 2075.0 1952.1 1995.8 2034.9 2075.0 2107.4 2135.8 2163.5 1

 2 FL103165405 Nonfinancial corporate business 120.0 126.2 121.5 123.7 124.1 126.2 128.1 129.3 131.4 2

 3 FL113165405 Nonfinancial noncorporate business 1790.3 1948.8 1830.5 1872.0 1910.8 1948.8 1979.2 2006.5 2032.2 3

 4 FL313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL893065405 Total assets 1910.4 2075.0 1952.1 1995.8 2034.9 2075.0 2107.4 2135.8 2163.5 5

 6 FL153065403 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FL103065405 Nonfinancial corporate business 3.1 1.6 2.9 2.5 1.9 1.6 1.6 2.0 2.1 7

 8 FL113065403 Nonfinancial noncorporate business 17.7 19.0 18.1 18.5 18.7 19.0 19.1 19.2 19.3 8

 9 FL313065405 Federal government 10.9 10.5 10.8 10.7 10.6 10.5 10.5 10.5 10.3 9

 10 FL213065403 State and local governments 108.7 112.3 109.6 110.5 111.4 112.3 113.2 114.1 115.0 10

 11 FL763065405 U.S.-chartered depository institutions 560.9 654.0 578.4 608.6 637.0 654.0 671.8 680.7 687.7 11

 12 FL753065403 Foreign banking offices in U.S. 15.9 21.8 15.9 19.3 21.0 21.8 21.6 22.7 22.6 12

 13 FL543065405 Life insurance companies 196.5 211.4 201.6 206.0 208.5 211.4 214.6 219.0 223.4 13

 14 FL573065403 Private pension funds 0.3 0.1 0.3 0.2 0.1 0.1 0.0 0.0 0.0 14

 15 FL223065443 State and local govt. retirement funds 2.0 2.0 2.0 2.0 2.2 2.0 2.3 2.2 2.3 15

 16 FL403065405 Government-sponsored enterprises 445.0 489.4 451.5 456.2 462.9 489.4 493.9 506.3 520.2 16

 17 FL413065405 Agency- and GSE-backed mortgage pools 456.2 464.1 459.2 462.4 463.2 464.1 463.3 464.3 466.0 17

 18 FL673065405 ABS issuers 64.0 58.6 70.6 66.9 66.7 58.6 65.6 65.3 66.9 18

 19 FL613065403 Finance companies 15.7 15.0 16.0 16.3 14.9 15.0 14.9 15.1 13.5 19

 20 FL643065473 Mortgage REITs 13.5 15.3 15.3 15.7 15.8 15.3 15.0 14.5 14.2 20
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L.220 Commercial Mortgages

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893065505 Total liabilities 3293.3 3560.6 3357.5 3450.0 3503.8 3560.6 3603.5 3630.0 3656.5 1

 2 FL163165505 Nonprofit organizations (1) 390.1 410.2 395.1 400.2 405.2 410.2 416.7 423.3 429.8 2

 3 FL103165505 Nonfinancial corporate business 868.3 1027.0 904.7 959.8 997.0 1027.0 1044.1 1053.2 1064.4 3

 4 FL113165505 Nonfinancial noncorporate business 2035.0 2123.4 2057.7 2090.1 2101.6 2123.4 2142.6 2153.5 2162.4 4

 5 FL893065505 Total assets 3293.3 3560.6 3357.5 3450.0 3503.8 3560.6 3603.5 3630.0 3656.5 5

 6 FL153065505 Household sector 1.3 1.4 1.3 1.4 1.4 1.4 1.4 1.5 1.5 6

 7 FL103065505 Nonfinancial corporate business 77.5 107.5 86.0 103.7 105.0 107.5 115.5 117.6 119.3 7

 8 FL113065503 Nonfinancial noncorporate business 14.1 15.1 14.4 14.7 14.9 15.1 15.2 15.4 15.4 8

 9 FL313065505 Federal government 78.2 81.8 78.7 79.6 80.2 81.8 82.6 83.1 85.2 9

 10 FL213065503 State and local governments 21.4 21.8 21.5 21.6 21.7 21.8 21.9 22.0 22.1 10

 11 FL763065505 U.S.-chartered depository institutions 1904.7 2076.0 1936.8 1982.1 2029.4 2076.0 2103.2 2127.0 2144.4 11

 12 FL753065503 Foreign banking offices in U.S. 73.8 83.7 77.8 79.1 80.9 83.7 83.9 84.8 82.6 12

 13 FL743065505 Banks in U.S.-affiliated areas 9.4 10.3 9.6 9.8 10.3 10.3 10.1 10.0 10.2 13

 14 FL513065505 Property-casualty insurance companies 27.7 30.4 29.6 30.4 30.9 30.4 30.5 31.8 31.9 14

 15 FL543065505 Life insurance companies 423.9 458.3 435.6 445.7 451.6 458.3 465.5 473.1 479.0 15

 16 FL573065505 Private pension funds 24.8 26.0 25.0 25.3 25.6 26.0 26.3 26.6 26.8 16

 17 FL223065545 State and local govt. retirement funds 2.3 2.2 2.3 2.2 2.5 2.2 2.6 2.5 2.6 17

 18 FL413065505 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FL673065505 ABS issuers 413.0 417.5 413.6 422.4 421.9 417.5 419.4 418.3 425.6 19

 20 FL613065503 Finance companies 26.2 25.4 27.0 26.8 26.4 25.4 25.0 24.0 23.5 20

 21 FL643065573 Mortgage REITs 195.1 203.2 198.1 205.2 201.0 203.2 200.2 192.3 186.5 21

(1) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

L.221 Farm Mortgages (1)

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

 1 FL893065603 Total liabilities 324.4 334.8 327.0 329.6 332.2 334.8 339.8 344.8 349.9 1

 2 FL183165605 Nonfinancial corporate business 87.1 90.4 88.1 89.0 89.6 90.4 91.8 93.1 94.7 2

 3 FL233165605 Nonfinancial noncorporate business 237.3 244.4 238.8 240.6 242.6 244.4 248.0 251.7 255.2 3

 4 FL893065603 Total assets 324.4 334.8 327.0 329.6 332.2 334.8 339.8 344.8 349.9 4

 5 FL153065605 Household sector 20.5 15.0 19.2 17.5 16.3 15.0 15.5 14.9 15.3 5

 6 FL113065603 Nonfinancial noncorporate business 1.0 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 6

 7 FL313065605 Federal government 11.5 12.5 11.7 11.9 12.3 12.5 12.7 13.0 13.3 7

 8 FL213065603 State and local governments 1.5 1.5 1.5 1.5 1.5 1.5 1.6 1.6 1.6 8

 9 FL763065633 U.S.-chartered depository institutions 100.8 107.0 102.3 103.9 105.4 107.0 108.6 110.2 111.8 9

 10 FL753065603 Foreign banking offices in U.S. 0.1 0.2 0.1 0.2 0.2 0.2 0.1 0.1 0.2 10

 11 FL543065633 Life insurance companies 21.3 22.7 21.6 22.0 22.3 22.7 23.0 23.4 23.7 11

 12 FL223065643 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL403065605 Government-sponsored enterprises 166.4 173.6 168.2 170.2 171.8 173.6 176.0 178.7 181.2 13

 14 FL413065605 Agency- and GSE-backed mortgage pools 1.3 1.2 1.2 1.2 1.2 1.2 1.2 1.8 1.8 14

(1) Excludes mortgages on farm houses.
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L.222 Consumer Credit

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL153166000 Total liabilities (Households) 4548.5 4894.0 4577.0 4694.1 4789.3 4894.0 4886.5 4940.8 4967.3 1

 2 FL153166000 Total assets 4548.5 4894.0 4577.0 4694.1 4789.3 4894.0 4886.5 4940.8 4967.3 2

 3 FL163066223 Nonprofit organizations (1) 22.0 18.7 21.3 20.5 19.5 18.7 18.6 18.2 17.3 3

 4 FL103066005 Nonfinancial corporate business 35.8 35.8 34.7 34.9 35.0 35.8 34.7 34.9 35.0 4

 5 FL113066003 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FL313066220 Federal government (2) 1436.4 1487.3 1455.0 1457.1 1479.1 1487.3 1499.7 1490.1 1467.4 6

 7 FL763066000 U.S.-chartered depository institutions 1825.8 2029.8 1829.7 1913.6 1957.5 2029.8 1999.5 2034.0 2061.4 7

 8 FL473066000 Credit unions 532.0 636.7 547.2 584.4 616.3 636.7 645.0 654.0 663.9 8

 9 FL403066005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FL673066000 ABS issuers 1.4 3.0 1.3 1.5 2.3 3.0 3.0 3.0 3.6 10

 11 FL613066005 Finance companies 695.1 682.7 687.8 682.2 679.6 682.7 686.0 706.5 718.7 11

 Memo:

 12 FL153166100 Credit card loans (3) 1053.5 1212.6 1035.7 1098.4 1133.1 1212.6 1178.9 1224.2 1254.1 12

 13 FL153166400 Auto loans 1392.7 1499.5 1410.6 1445.2 1476.9 1499.5 1516.4 1535.2 1555.5 13

 14 FL153166220 Student loans (4) 1733.4 1764.1 1747.5 1744.0 1761.7 1764.1 1774.9 1765.0 1737.2 14

 15 FL153166205 Other consumer credit (5) 368.9 417.9 383.3 406.5 417.6 417.9 416.3 416.4 420.5 15

(1) Student loans originated under the Federal Family Education Loan Program. Asset of the households and nonprofit organizations sector (tables L.101 and B.101).

(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.

L.223 Direct Investment Intercompany Debt

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

 U.S. direct investment abroad: Intercompany Debt

 1 LM263192305 Liab.: Rest of the world (1) -36.2 -72.2 -77.7 -48.3 -78.6 -72.2 -25.4 -68.7 -38.9 1

 2 LM263192313 U.S. parents’ claims 723.6 731.9 740.6 753.3 728.5 731.9 763.3 764.2 807.0 2

 3 LM263092313 Less: U.S. parents’ liabilities 759.9 804.2 818.3 801.6 807.1 804.2 788.7 832.9 845.9 3

 4 LM103092305 Asset: Nonfinancial corporate business -29.7 -59.9 -63.9 -39.9 -65.0 -59.9 -21.0 -56.7 -35.8 4

 5 LM763092305 U.S.-chartered depository institutions -1.5 -3.0 -3.2 -1.9 -3.3 -3.0 -1.0 -2.8 -1.5 5

 6 LM513092305 Property-casualty insurance companies -1.1 -2.1 -2.4 -1.5 -2.3 -2.1 -0.7 -2.0 -0.9 6

 7 LM543092375 Life insurance companies -0.3 -0.2 -0.6 -0.3 -0.3 -0.2 -0.1 -0.3 -0.2 7

 8 LM613092305 Finance companies -1.7 -3.7 -3.7 -2.3 -3.9 -3.7 -1.3 -3.5 -1.5 8

 9 LM663092305 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 LM733092305 Holding companies -1.9 -3.4 -4.0 -2.4 -3.8 -3.4 -1.2 -3.4 1.0 10

 Foreign direct investment in U.S.: Intercompany debt

 11 LM103192305 Liab.: Nonfinancial corporate business 311.9 381.7 320.5 331.1 362.4 381.7 373.7 363.2 350.5 11

 12 LM115114305 Nonfinancial noncorporate business 5.3 5.5 5.4 5.3 5.5 5.5 5.4 5.2 5.0 12

 13 LM753192305 Foreign banking offices in U.S. 17.1 16.9 16.6 16.2 16.7 16.9 16.6 16.5 16.8 13

 14 LM513192305 Property-casualty insurance companies 10.3 10.5 10.2 10.0 10.5 10.5 10.2 10.2 9.9 14

 15 LM543192375 Life insurance companies 11.4 6.6 10.1 8.4 7.5 6.6 6.6 6.6 7.7 15

 16 LM613192305 Finance companies 7.3 7.3 7.3 7.1 7.4 7.3 6.9 6.6 6.4 16

 17 LM663192305 Brokers and dealers 15.6 14.5 15.2 14.2 13.9 14.5 14.3 14.5 14.5 17

 18 LM733192305 Holding companies 105.8 70.2 101.7 91.7 83.2 70.2 70.7 71.2 76.5 18

 19 LM503192305 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 LM263092305 Asset: Rest of the world (1) 484.6 513.2 487.0 483.9 507.2 513.2 504.2 494.0 487.2 20

 21 LM263092323 U.S. affiliates’ liabilities 959.7 981.2 961.2 962.0 983.1 981.2 974.0 976.0 975.6 21

 22 LM263192323 Less: U.S. affiliates’ claims 475.1 468.1 474.2 478.1 475.9 468.1 469.8 482.0 488.4 22

 Memo:

 23 LM263192005 Total U.S. direct investment abroad (1, 2) 9690.6 8004.8 9079.6 7673.7 7018.4 8004.8 8747.6 8989.7 8751.9 23

 24 LM263092001 Total Foreign direct investment in U.S. (1, 2) 13647.7 10990.5 12941.4 10851.9 10287.4 10990.5 11762.9 12686.8 12319.6 24

(1) Direct investment is presented on a directional basis and reported at market value.

(2) Memo totals are the sum of direct investment equity (tables F.225.a and L.225.a) and intercompany debt (tables F.223 and L.223).
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L.224 Corporate Equities (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM893064105 Issues at market value 80061.2 64722.5 76418.6 64206.3 61017.7 64722.5 68449.9 72893.8 70100.9 1

 2 LM883164105 Domestic sectors 67999.9 54416.5 64953.3 54208.6 51825.3 54416.5 57653.1 61862.2 59560.0 2

 3 LM103164105 Nonfinancial corporate business 53257.4 41472.9 50602.7 41876.4 39946.8 41472.9 44667.0 48266.4 46205.4 3

 4 LM103164115 Publicly traded 44779.2 34082.9 41893.6 34389.5 32571.8 34082.9 36998.0 40110.8 38381.7 4

 5 LM103164125 Closely held 8478.2 7390.1 8709.2 7487.0 7375.0 7390.1 7669.0 8155.7 7823.7 5

 6 LM793164105 Financial corporations 14742.5 12943.6 14350.6 12332.1 11878.5 12943.6 12986.1 13595.7 13354.6 6

 7 LM793164115 Publicly traded (2) 14487.4 12707.2 14090.0 12104.0 11654.7 12707.2 12740.9 13335.2 13104.8 7

 8 LM793164123 Closely held 255.1 236.4 260.6 228.2 223.8 236.4 245.2 260.5 249.8 8

 9 LM263164100 Rest of the world (3) 12061.3 10306.0 11465.3 9997.7 9192.4 10306.0 10796.8 11031.7 10540.9 9

 10 LM893064105 Holdings at market value 80061.2 64722.5 76418.6 64206.3 61017.7 64722.5 68449.9 72893.8 70100.9 10

 11 LM153064105 Household sector 31782.0 26504.9 31044.2 26025.6 25158.5 26504.9 28142.4 29891.4 28852.3 11

 12 LM103064103 Nonfinancial corporate business 3144.9 2396.0 2945.7 2428.2 2268.8 2396.0 2530.0 2705.6 2572.6 12

 13 LM313064105 Federal government 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 13

 14 LM213064103 State and local governments 306.4 239.3 288.0 237.7 225.1 239.3 254.7 274.2 263.3 14

 15 FL713064103 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 LM763064103 U.S.-chartered depository institutions 54.1 45.8 53.1 44.2 40.9 45.8 46.0 48.8 48.5 16

 17 FL753064103 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 LM513064105 Property-casualty insurance companies 642.8 532.9 674.3 595.8 506.5 532.9 578.0 608.0 559.7 18

 19 LM543064105 Life insurance companies 765.6 623.7 728.5 637.0 595.6 623.7 651.7 663.7 633.9 19

 20 LM573064105 Private pension funds 3869.8 2929.4 3621.1 2960.0 2780.1 2929.4 3076.8 3280.9 3129.0 20

 21 LM343064105 Federal government retirement funds 524.0 418.8 485.5 410.1 384.9 418.8 449.0 485.4 474.1 21

 22 LM223064145 State and local govt. retirement funds 3345.9 2971.5 3236.8 2951.9 2798.0 2971.5 2940.5 3135.6 2982.1 22

 23 LM653064100 Mutual funds 15533.8 11867.0 14328.6 11894.4 11077.4 11867.0 12537.1 13229.7 12665.0 23

 24 LM553064103 Closed-end funds 123.4 99.0 115.7 100.2 93.3 99.0 98.6 101.2 95.7 24

 25 LM563064100 Exchange-traded funds 5803.3 5059.2 5633.7 4802.4 4552.1 5059.2 5376.3 5765.9 5613.7 25

 26 LM663064103 Brokers and dealers 233.9 170.3 236.9 177.6 192.2 170.3 235.3 276.0 251.3 26

 27 FL503064105 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 LM263064105 Rest of the world (4) 13898.3 10831.5 12993.3 10908.1 10311.3 10831.5 11500.4 12394.3 11926.6 28

 Memo:

 29 LM883164115 Publicly traded equity at market value (5) 59266.7 46790.1 55983.6 46493.4 44226.5 46790.1 49738.9 53446.0 51486.5 29

 30 LM883164125 Closely held equity at market value (6) 8733.2 7626.5 8969.7 7715.1 7598.8 7626.5 7914.2 8416.2 8073.5 30

 31 LM883164133 S corporations 6416.9 5686.9 6653.9 5764.6 5759.9 5686.9 5935.2 6342.4 6113.5 31

 32 LM883164135 C corporations 2316.3 1939.6 2315.8 1950.5 1838.9 1939.6 1979.1 2073.8 1960.0 32

 33 PC073164013 Percent change in Dow Jones U.S. Total Market Index 24.01 -20.80 -5.73 -17.17 -4.95 6.71 6.79 7.96 -3.65 33

(1) Includes shares of exchange-traded funds, closed-end funds, and real estate investment trusts. Excludes mutual fund shares shown on table L.226.

(2) Includes corporate equities issued by financial corporations under the federal financial stabilization programs.

(3) Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(4) Holdings of U.S. issues by foreign residents.

(5) Equal to the sum of lines 4 and 7.

(6) Equal to the sum of lines 5 and 8.
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L.225 Other Equity (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM893181115 Issues 41267.0 37599.6 40388.7 37490.8 36308.2 37599.6 38795.4 40230.6 39645.0 1

 2 LM103192105 Nonfinancial corporate business 11258.2 9129.8 10712.5 8974.7 8502.1 9129.8 9824.4 10627.1 10320.3 2

 3 LM113181115 Nonfinancial noncorporate business 15697.7 16320.4 16117.8 16725.6 16719.6 16320.4 15989.6 16238.8 16277.2 3

 4 FL713164005 Monetary authority 33.9 35.0 34.3 34.9 35.1 35.0 35.4 35.6 35.9 4

 5 FL763194603 U.S.-chartered depository institutions 2243.5 2103.9 2178.2 2114.5 2063.4 2103.9 2165.6 2174.7 2168.2 5

 6 LM753181115 Foreign banking offices in U.S. 571.9 454.1 557.9 451.7 437.7 454.1 486.8 522.5 535.3 6

 7 LM513181115 Property-casualty insurance companies 283.3 218.4 263.8 217.7 206.9 218.4 232.8 255.4 246.7 7

 8 LM543181115 Life insurance companies 309.5 134.9 259.3 179.4 144.9 134.9 146.5 162.4 157.7 8

 9 FL403192405 Government-sponsored enterprises 40.9 60.8 42.3 48.5 54.3 60.8 72.4 67.1 65.0 9

 10 LM613192103 Finance companies 198.2 148.5 186.8 152.9 143.3 148.5 153.0 164.0 156.5 10

 11 LM663181115 Brokers and dealers 724.5 733.1 701.5 694.5 721.3 733.1 728.6 743.5 713.3 11

 12 LM733192103 Holding companies 87.0 95.5 84.9 84.0 91.9 95.5 98.7 92.8 87.6 12

 13 LM503181115 Other financial business 21.3 15.4 21.3 17.9 17.9 15.4 15.4 13.4 14.1 13

 14 LM263181115 Rest of the World 9797.3 8149.9 9228.2 7794.3 7169.8 8149.9 8846.2 9133.1 8867.0 14

 15 LM893081115 Holdings 41267.0 37599.6 40388.7 37490.8 36308.2 37599.6 38795.4 40230.6 39645.0 15

 16 LM153081115 Households 15659.3 16316.9 16075.7 16706.5 16711.3 16316.9 15987.9 16230.4 16270.0 16

 17 LM103081115 Nonfinancial corporate business 7981.5 6695.5 7531.6 6375.2 5869.9 6695.5 7260.3 7481.4 7237.5 17

 18 FL113092405 Nonfinancial noncorporate business 14.2 15.1 14.3 14.3 15.2 15.1 17.0 17.6 17.9 18

 19 LM313081115 Federal government 91.8 88.3 92.1 90.3 90.7 88.3 88.5 88.1 90.3 19

 20 LM763081115 U.S.-chartered depository institutions 439.7 397.9 419.0 363.3 352.6 397.9 429.2 434.2 422.7 20

 21 FL473092403 Credit unions 4.3 6.3 4.3 5.1 5.6 6.3 6.2 6.0 6.3 21

 22 LM513081115 Property-casualty insurance companies 307.7 236.4 283.9 232.8 210.7 236.4 256.2 270.5 265.8 22

 23 LM543081115 Life insurance companies 95.8 33.2 77.9 53.7 39.8 33.2 41.8 43.9 48.0 23

 24 LM613081115 Finance companies 454.8 408.8 435.4 371.1 348.4 408.8 447.2 465.2 452.6 24

 25 FL643092473 Mortgage REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 LM663092103 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 LM733081115 Holding companies 2946.3 2814.6 2867.9 2805.0 2767.1 2814.6 2885.3 2886.1 2864.1 27

 28 FL503094505 Other financial business 108.5 109.4 132.2 105.6 116.6 109.4 117.1 114.2 137.5 28

 29 LM263092101 Rest of the World 13163.1 10477.3 12454.3 10367.9 9780.2 10477.3 11258.7 12192.8 11832.4 29

(1) Other equity is the sum of direct investment equity and miscellaneous other equity.

L.225.a Direct Investment Equity

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

 U.S. direct investment abroad: Equity

 1 LM263192101 Liab.: Rest of the world (1) 9726.8 8077.0 9157.4 7722.0 7097.1 8077.0 8773.0 9058.4 8790.8 1

 2 LM103092105 Asset: Nonfinancial corporate business 7980.0 6693.8 7529.7 6373.4 5868.2 6693.8 7258.2 7479.5 7235.6 2

 3 LM763092100 U.S.-chartered depository institutions 394.7 333.5 373.0 310.7 294.6 333.5 354.7 365.7 356.8 3

 4 LM513092103 Property-casualty insurance companies 307.2 236.1 283.4 232.4 210.4 236.1 256.0 270.2 265.5 4

 5 LM543092173 Life insurance companies 86.7 25.1 68.3 44.7 31.3 25.1 34.0 35.5 39.3 5

 6 LM613092103 Finance companies 454.8 408.8 435.4 371.0 348.4 408.8 447.2 465.2 452.6 6

 7 LM663092103 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 LM733092103 Holding companies 503.4 379.7 467.6 389.8 344.1 379.7 422.9 442.2 441.0 8

 Foreign direct investment in U.S.: Equity

 9 LM103192105 Liab.: Nonfinancial corporate business 11258.2 9129.8 10712.5 8974.7 8502.1 9129.8 9824.4 10627.1 10320.3 9

 10 LM115114103 Nonfinancial noncorporate business 144.6 113.3 137.0 113.0 105.8 113.3 119.5 128.5 128.2 10

 11 LM753192103 Foreign banking offices in U.S. 463.4 344.7 425.7 346.1 321.1 344.7 369.7 408.3 397.8 11

 12 LM513192103 Property-casualty insurance companies 279.7 213.8 259.6 213.3 202.5 213.8 227.9 250.6 242.1 12

 13 LM543192173 Life insurance companies 309.5 134.9 259.3 179.4 144.9 134.9 146.5 162.4 157.7 13

 14 LM613192103 Finance companies 198.2 148.5 186.8 152.9 143.3 148.5 153.0 164.0 156.5 14

 15 LM663192103 Brokers and dealers 422.6 296.9 388.6 304.4 268.6 296.9 318.9 359.0 342.1 15

 16 LM733192103 Holding companies 87.0 95.5 84.9 84.0 91.9 95.5 98.7 92.8 87.6 16

 17 LM503192103 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 LM263092101 Asset: Rest of the world (1) 13163.1 10477.3 12454.3 10367.9 9780.2 10477.3 11258.7 12192.8 11832.4 18

 Memo:

 19 LM263192005 Total U.S. direct investment abroad (1, 2) 9690.6 8004.8 9079.6 7673.7 7018.4 8004.8 8747.6 8989.7 8751.9 19

 20 LM263092001 Total Foreign direct investment in U.S. (1, 2) 13647.7 10990.5 12941.4 10851.9 10287.4 10990.5 11762.9 12686.8 12319.6 20

(1) Direct investment is presented on a directional basis and reported at market value.

(2) Memo totals are the sum of direct investment equity (tables F.225.a and L.225.a) and intercompany debt (tables F.223 and L.223).
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L.225.b Miscellaneous Other Equity

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893194905 Total miscellaneous other equity 18377.2 19045.3 18777.0 19400.9 19430.9 19045.3 18763.7 18979.4 19021.8 1

 Proprietors’ Equity in Noncorporate Business

 2 LM112090205 Liab.: Nonfinancial corporate business 15553.1 16207.1 15980.8 16612.6 16613.8 16207.1 15870.1 16110.4 16149.0 2

 3 LM662090003 Brokers and dealers 106.1 109.8 94.9 93.9 97.5 109.8 117.8 120.1 121.0 3

 4 LM152090205 Asset: Households 15659.3 16316.9 16075.7 16706.5 16711.3 16316.9 15987.9 16230.4 16270.0 4

 Federal government equity in IBRD, etc.:

 5 FL313092803 Liab.: Rest of the world 70.5 72.9 70.8 72.4 72.7 72.9 73.1 74.7 76.2 5

 6 FL313092803 Asset: Federal government 70.5 72.9 70.8 72.4 72.7 72.9 73.1 74.7 76.2 6

 Federal Reserve Bank stock:

 7 FL713164003 Liab.: Monetary authority 33.9 35.0 34.3 34.9 35.1 35.0 35.4 35.6 35.9 7

 8 FL713164003 Asset: U.S.-chartered depository institutions 33.9 35.0 34.3 34.9 35.1 35.0 35.4 35.6 35.9 8

 Equity in government-sponsored enterprises:

 9 FL403192405 Liab.: Government-sponsored enterprises 40.9 60.8 42.3 48.5 54.3 60.8 72.4 67.1 65.0 9

 10 FL103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 1.6 1.7 1.9 1.8 1.7 1.7 2.1 1.9 1.9 10

 11 FL113092405 Nonfinancial noncorporate (FCS) 14.2 15.1 14.3 14.3 15.2 15.1 17.0 17.6 17.9 11

 12 FL313092403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL763092405 U.S.-chartered depository institutions (FHLB) 11.1 29.4 11.6 17.7 22.9 29.4 39.1 32.9 29.9 13

 14 FL473092403 Credit unions (FHLB) 4.3 6.3 4.3 5.1 5.6 6.3 6.2 6.0 6.3 14

 15 FL513092403 Property-casualty insurance companies (FHLB) 0.6 0.3 0.5 0.4 0.3 0.3 0.3 0.3 0.3 15

 16 FL543092473 Life insurance companies (FHLB) 9.1 8.1 9.6 9.1 8.5 8.1 7.8 8.4 8.7 16

 17 FL613092403 Finance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL643092473 Mortgage REITs (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 Holding company equity investment in affiliates:

 19 FL763194603 Liab.: U.S.-chartered depository institutions 2243.5 2103.9 2178.2 2114.5 2063.4 2103.9 2165.6 2174.7 2168.2 19

 20 FL513194603 Property-casualty insurance companies 3.6 4.5 4.2 4.4 4.5 4.5 4.9 4.8 4.6 20

 21 FL543194603 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL663194605 Brokers and dealers 195.8 326.5 218.0 296.2 355.2 326.5 291.9 264.4 250.2 22

 23 FL733094635 Asset: Holding companies 2442.9 2434.9 2400.4 2415.1 2423.0 2434.9 2462.4 2443.9 2423.0 23

 Other financial business investment in affiliates:

 24 FL753194503 Liab.: Foreign banking offices in U.S. 108.5 109.4 132.2 105.6 116.6 109.4 117.1 114.2 137.5 24

 25 FL663194505 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 FL503094505 Asset: Other financial business 108.5 109.4 132.2 105.6 116.6 109.4 117.1 114.2 137.5 26

 Federal gov’t investment in Federal Reserve facilities:

 27 FL313094213 Liab.: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FL503194205 Other financial business 21.3 15.4 21.3 17.9 17.9 15.4 15.4 13.4 14.1 28

 29 FL313094205 Asset: Federal government 21.3 15.4 21.3 17.9 17.9 15.4 15.4 13.4 14.1 29

 Equity investment under Public-Private Inv. Program:

 30 LM503194305 Liab.: Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 LM153094305 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 LM313094303 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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L.226 Mutual Fund Shares (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM653164205 Shares at market value 22208.8 17333.4 20698.1 17759.6 16617.1 17333.4 18166.2 18850.5 18106.6 1

 2 LM653164205 Holdings at market value 22208.8 17333.4 20698.1 17759.6 16617.1 17333.4 18166.2 18850.5 18106.6 2

 3 LM153064205 Household sector 12822.0 9749.3 11864.2 10047.6 9354.0 9749.3 10195.4 10670.3 10235.9 3

 4 LM103064203 Nonfinancial corporate business 444.4 358.5 415.1 360.7 339.7 358.5 375.3 389.8 375.2 4

 5 LM213064203 State and local governments 128.0 105.6 120.2 105.1 99.5 105.6 111.2 116.1 112.4 5

 6 LM763064203 U.S.-chartered depository institutions 14.9 10.1 13.1 11.0 12.4 10.1 10.2 11.1 9.8 6

 7 LM473064205 Credit unions 7.1 4.2 7.4 5.7 4.3 4.2 4.0 4.0 4.3 7

 8 LM513064205 Property-casualty insurance companies 36.2 30.8 34.8 28.5 28.3 30.8 31.2 32.5 31.0 8

 9 LM543064205 Life insurance companies 1840.8 1420.3 1693.3 1443.4 1353.5 1420.3 1468.1 1512.3 1432.0 9

 10 LM573064205 Private pension funds 5430.1 4385.7 5084.8 4412.5 4152.9 4385.7 4624.0 4806.7 4620.6 10

 11 LM223064205 State and local govt. retirement funds 297.5 230.0 281.9 244.3 229.7 230.0 274.7 229.8 212.7 11

 12 LM263064203 Rest of the world 1187.9 1038.9 1183.2 1100.8 1042.7 1038.9 1072.1 1077.9 1072.8 12

(1) Shares of open-end investment companies; excludes shares of money market funds and exchange-traded funds.
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L.228 Life Insurance Reserves

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893140005 Total liabilities 2501.2 2494.6 2493.1 2467.2 2469.2 2494.6 2533.8 2562.8 2555.3 1

 2 FL313140003 Federal government 52.6 53.0 52.9 52.8 53.0 53.0 53.5 53.5 54.2 2

 3 FL543140005 Life insurance companies 2344.0 2345.1 2337.7 2313.9 2317.6 2345.1 2382.6 2411.0 2402.4 3

 4 FL263140005 Rest of the world 104.6 96.5 102.5 100.5 98.5 96.5 97.6 98.3 98.7 4

 5 FL893140005 Total assets 2501.2 2494.6 2493.1 2467.2 2469.2 2494.6 2533.8 2562.8 2555.3 5

 6 FL153040005 Household sector 1944.9 1933.3 1935.1 1907.6 1907.7 1933.3 1966.8 1996.5 1987.1 6

 7 FL763040005 U.S.-chartered depository institutions 198.2 204.7 200.3 202.2 204.4 204.7 206.0 202.3 202.1 7

 8 FL543040005 Life insurance companies 284.9 279.3 283.5 282.1 280.7 279.3 282.7 284.7 285.8 8

 9 FL733040005 Holding companies 73.0 77.0 74.0 75.0 76.0 77.0 78.0 79.0 80.0 9

 10 FL543141905 Rest of the world 0.2 0.3 0.2 0.2 0.3 0.3 0.3 0.3 0.3 10

L.229 Pension Entitlements

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

 1 FL893150005 Total liabilities 31869.7 28353.2 30822.1 29052.8 28231.1 28353.2 29002.2 29587.7 29354.6 1

 2 FL543150005 Life insurance companies (1) 4038.5 3756.0 3911.0 3690.8 3649.3 3756.0 3873.4 3971.1 3911.7 2

 3 FL574190005 Private pension funds (2) 13203.1 11743.2 12714.9 11678.2 11345.1 11743.2 12131.2 12478.1 12223.1 3

 4 FL344090005 Federal government retirement funds (3) 4559.6 3529.5 4314.9 4009.6 3748.0 3529.5 3582.4 3637.1 3641.6 4

 5 FL224190005 State and local govt. retirement funds 9898.3 9067.9 9689.7 9461.0 9253.8 9067.9 9152.5 9236.1 9301.5 5

 6 FL263150005 Rest of the world 170.2 256.5 191.8 213.3 234.9 256.5 262.8 265.4 276.7 6

 7 FL893150005 Total assets 31869.7 28353.2 30822.1 29052.8 28231.1 28353.2 29002.2 29587.7 29354.6 7

 8 FL153050005 Households (4) 31489.0 27867.7 30415.3 28619.9 27772.0 27867.7 28504.8 29085.5 28828.0 8

 9 FL543050005 Life insurance companies 380.0 484.2 406.0 432.0 458.0 484.2 496.2 501.0 525.3 9

 10 FL543151905 Rest of the world 0.7 1.3 0.9 1.0 1.1 1.3 1.3 1.3 1.3 10

 Memo:

 11 LM893131573 Individual Retirement Accounts (IRAs): (5) 14460.0 11950.0 13630.0 12050.0 11375.0 11950.0 12465.0 12955.0 ND 11

 12 FL763131573 U.S.-chartered depository institutions 592.2 560.1 578.4 635.9 572.6 560.1 471.0 482.6 ND 12

 13 FL473131573 Credit unions 83.9 83.0 84.1 84.0 83.8 83.0 83.5 84.3 ND 13

 14 LM543131503 Life insurance companies 793.0 739.0 768.0 725.0 718.0 739.0 762.0 780.0 ND 14

 15 FL633131573 Money market funds 365.0 427.0 379.0 400.0 410.0 427.0 451.0 482.0 ND 15

 16 LM653131573 Mutual funds 5606.0 4413.0 5231.0 4488.0 4217.0 4413.0 4622.0 4801.0 ND 16

 17 LM153131575 Other self-directed accounts 7019.8 5727.9 6589.6 5717.1 5373.6 5727.9 6075.6 6325.1 ND 17

(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) Includes public and private defined benefit and defined contribution pension plans, and annuities at life insurance companies. Annuities include those held in individual retirement accounts (IRAs). Social security is excluded.

(5) Asset of the household and nonprofit organizations sector (tables L.101 and B.101). Figures for depositories (lines 12 and 13) include Keogh accounts. Variable annuities in IRAs are included

 in the life insurance sector (line 14) and excluded from the money market fund and mutual fund sectors (lines 15 and 16).
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L.230 Trade Credit

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893170005 Total trade payables 6649.7 7112.6 6800.1 7010.8 7060.4 7112.6 7029.6 7098.5 7266.9 1

 2 FL163170005 Nonprofit organizations (1) 470.9 504.0 479.2 487.5 495.8 504.0 512.0 519.9 527.8 2

 3 FL103170005 Nonfinancial corporate business 3194.4 3442.7 3281.9 3430.6 3436.7 3442.7 3324.7 3346.8 3465.8 3

 4 FL113170005 Nonfinancial noncorporate business 741.7 784.6 754.5 763.5 771.7 784.6 787.3 792.3 792.8 4

 5 FL313170005 Federal government 508.4 555.6 532.7 554.8 555.0 555.6 558.4 563.4 575.2 5

 6 FL213170003 State and local governments 1162.5 1227.3 1177.9 1194.2 1210.7 1227.3 1244.1 1261.0 1278.3 6

 7 FL513170005 Property-casualty insurance companies 109.5 124.6 113.3 117.1 120.9 124.6 127.9 130.5 133.4 7

 8 FL543170005 Life insurance companies 355.0 371.2 359.1 363.0 367.1 371.2 375.4 381.8 392.7 8

 9 FL663170003 Brokers and dealers 22.4 20.0 21.9 19.3 19.6 20.0 19.1 22.8 21.4 9

 10 LM263170005 Rest of the world 84.8 82.4 79.5 80.8 83.0 82.4 80.7 80.0 79.6 10

 11 FL893070005 Total trade receivables 7014.6 7345.8 7233.4 7454.7 7382.3 7345.8 7339.7 7383.9 7512.8 11

 12 FL163070005 Nonprofit organizations (1) 286.3 293.2 288.0 289.7 291.5 293.2 295.0 296.7 298.5 12

 13 FL103070005 Nonfinancial corporate business 4414.3 4595.3 4592.4 4762.1 4664.4 4595.3 4564.1 4575.5 4669.1 13

 14 FL113070003 Nonfinancial noncorporate business 1019.9 1070.7 1030.7 1048.0 1059.1 1070.7 1075.8 1084.3 1087.0 14

 15 FL313070000 Federal government 95.5 97.3 97.5 95.1 96.3 97.3 102.0 102.9 105.7 15

 16 FL213070003 State and local governments 275.5 295.9 282.5 293.6 294.6 295.9 287.8 289.7 298.1 16

 17 FL513070005 Property-casualty insurance companies 233.4 259.7 246.7 256.8 256.0 259.7 273.9 280.1 284.1 17

 18 FL543070005 Life insurance companies 140.5 136.6 139.5 138.6 137.6 136.6 137.5 140.7 149.5 18

 19 FL673070003 ABS issuers 38.2 41.9 36.2 37.2 38.6 41.9 39.8 41.4 42.3 19

 20 LM263070005 Rest of the world 511.1 555.1 519.8 533.6 544.4 555.1 563.7 572.6 578.4 20

 21 FL903070005 Discrepancy -364.9 -233.2 -433.3 -443.9 -321.9 -233.2 -310.1 -285.5 -245.9 21

(1) Included in the households and nonprofit organizations sector (tables L.101 and B.101).

L.231 Taxes Payable by Businesses

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

 1 FL893178005 Total taxes payable by all businesses 598.0 561.1 599.7 558.0 547.9 561.1 596.5 554.3 564.4 1

 2 FL103178005 Nonfinancial corporate business 249.8 277.5 306.0 277.4 280.3 277.5 309.0 268.6 274.1 2

 3 FL113178003 Nonfinancial noncorporate business 202.3 213.7 205.2 208.7 211.0 213.7 215.4 218.2 219.3 3

 4 FL763178000 U.S.-chartered depository institutions 104.1 30.4 46.7 32.3 17.9 30.4 31.8 29.4 30.9 4

 5 FL513178005 Property-casualty insurance companies 10.3 10.5 11.3 8.7 8.2 10.5 10.7 9.1 9.3 5

 6 FL543178075 Life insurance companies 7.0 5.9 6.1 5.1 5.2 5.9 6.4 5.6 6.4 6

 7 FL613178005 Finance companies 14.9 16.7 15.2 16.2 16.0 16.7 16.4 16.5 17.1 7

 8 FL663178003 Brokers and dealers 6.8 3.9 6.4 6.9 6.7 3.9 4.4 5.0 5.3 8

 9 FL733178013 Holding companies 2.8 2.5 2.8 2.5 2.5 2.5 2.5 1.9 1.9 9

 10 FL893078005 Total business taxes receivable 685.9 668.0 747.5 649.4 669.6 668.0 742.9 681.4 701.8 10

 11 FL313078000 Federal government 476.5 447.1 535.1 433.5 451.4 447.1 520.3 456.0 465.9 11

 12 FL213078005 State and local governments 209.5 220.9 212.4 215.9 218.2 220.9 222.6 225.4 236.0 12

 13 FL903078005 Discrepancy -87.9 -106.9 -147.8 -91.4 -121.8 -106.9 -146.3 -127.1 -137.5 13
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L.232 Total Miscellaneous Financial Claims

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893190005 Total liabilities 24801.3 24138.4 24949.3 25003.9 25014.9 24138.4 24283.1 24580.8 25270.0 1

 2 FL543077073 Household sector 38.1 36.6 39.8 39.0 39.1 36.6 37.6 37.7 38.3 2

 3 FL103190005 Nonfinancial corporate business 8615.7 9180.5 8819.4 9076.7 9203.3 9180.5 9171.2 9310.6 9473.6 3

 4 FL113193003 Nonfinancial noncorporate business 2729.4 2779.4 2748.4 2761.0 2765.8 2779.4 2801.1 2828.2 2841.6 4

 5 FL313190005 Federal government 1996.1 777.1 1711.2 1436.8 1146.9 777.1 839.3 821.1 796.0 5

 6 FL223073045 State and local governments 3582.0 3208.3 3533.1 3635.6 3618.6 3208.3 3110.1 3103.0 3344.8 6

 7 FL713193005 Monetary authority 11.8 -11.4 9.4 7.7 6.7 -11.4 -34.9 -68.7 -95.1 7

 8 FL763190005 U.S.-chartered depository institutions 442.9 465.4 484.5 457.4 541.9 465.4 460.6 494.5 613.7 8

 9 FL753193005 Foreign banking offices in U.S. 102.2 189.6 112.9 140.3 168.6 189.6 140.8 156.5 168.1 9

 10 FL743193005 Banks in U.S.-affiliated areas 22.8 25.8 24.1 24.1 25.5 25.8 25.7 26.2 48.6 10

 11 FL473193005 Credit unions 28.3 32.7 29.5 33.1 30.6 32.7 42.4 63.0 70.1 11

 12 FL513190005 Property-casualty insurance companies 1823.9 1947.3 1875.3 1904.2 1956.4 1947.3 2017.9 2060.3 2107.4 12

 13 FL543190005 Life insurance companies 2001.6 1930.0 1988.4 1944.0 1946.4 1930.0 1983.0 2014.8 2020.6 13

 14 FL403190005 Government-sponsored enterprises 72.9 86.9 74.9 75.7 83.3 86.9 85.9 91.3 103.1 14

 15 FL613190005 Finance companies 494.3 540.6 496.3 539.4 531.0 540.6 553.4 558.4 600.9 15

 16 FL643193075 Mortgage REITs 17.1 19.4 22.9 20.8 33.1 19.4 21.1 23.2 21.0 16

 17 FL663190005 Brokers and dealers 1068.5 1043.6 1154.7 1068.5 1063.7 1043.6 1113.3 1108.3 1083.5 17

 18 FL733190005 Holding companies 476.5 634.3 526.9 563.3 632.6 634.3 644.2 654.0 695.2 18

 19 FL503190005 Other financial business 916.3 874.1 915.3 896.4 839.8 874.1 885.6 893.6 951.0 19

 20 FL263190005 Rest of the world 361.1 378.3 382.3 380.2 381.6 378.3 384.8 405.1 387.6 20

 21 FL893090005 Total assets 28973.5 29568.5 29918.9 30596.8 30679.1 29568.5 29667.9 29703.3 30339.1 21

 22 FL153090005 Household sector 1423.3 1517.8 1435.4 1458.2 1484.1 1517.8 1544.1 1565.5 1585.0 22

 23 FL103090005 Nonfinancial corporate business 8381.7 9195.4 8885.3 9235.0 9336.9 9195.4 9189.3 9249.9 9359.5 23

 24 FL113090005 Nonfinancial noncorporate business 4565.5 4728.3 4585.3 4628.9 4683.6 4728.3 4752.3 4774.0 4785.5 24

 25 FL313091105 Federal government 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.4 25

 26 FL213093003 State and local governments 127.0 127.9 126.7 128.9 134.4 127.9 121.3 107.0 91.1 26

 27 FL713090005 Monetary authority 35.4 36.1 31.7 33.2 33.1 36.1 34.3 37.5 40.2 27

 28 FL763090005 U.S.-chartered depository institutions 675.4 900.3 799.8 927.9 996.3 900.3 833.0 820.4 863.9 28

 29 FL753093005 Foreign banking offices in U.S. 76.9 138.1 84.8 99.0 114.5 138.1 104.0 105.1 118.4 29

 30 FL743093005 Banks in U.S.-affiliated areas 27.5 32.8 29.7 27.7 36.3 32.8 34.1 32.3 37.0 30

 31 FL473093005 Credit unions 126.5 103.1 128.6 117.7 106.3 103.1 98.3 96.9 88.1 31

 32 FL513090005 Property-casualty insurance companies 427.2 552.5 476.7 529.2 582.1 552.5 583.6 571.3 561.4 32

 33 FL543090005 Life insurance companies 851.9 958.0 880.0 908.0 956.4 958.0 967.8 1000.5 1027.4 33

 34 FL573090005 Private pension funds 1747.8 2387.0 1960.4 2314.3 2454.2 2387.0 2285.0 2210.2 2324.6 34

 35 FL343073045 Federal government retirement funds 1550.9 390.6 1316.4 1063.6 782.6 390.6 455.3 434.2 409.7 35

 36 FL223090005 State and local govt. retirement funds 4802.3 4505.4 4754.6 4889.7 4882.9 4505.4 4524.4 4563.5 4854.7 36

 37 FL633093005 Money market funds -2.9 33.0 22.8 23.4 16.1 33.0 21.5 22.1 9.3 37

 38 FL653093005 Mutual funds 346.1 295.5 332.9 337.0 300.9 295.5 317.9 274.6 268.6 38

 39 LM563093003 Exchange-traded funds 133.2 131.9 165.5 151.8 130.0 131.9 137.3 131.0 124.0 39

 40 FL403093005 Government-sponsored enterprises 159.2 121.7 145.5 120.9 113.6 121.7 118.6 118.3 125.0 40

 41 FL673090543 ABS issuers 155.4 173.7 169.9 172.0 171.3 173.7 175.8 178.3 182.3 41

 42 FL613090005 Finance companies 294.8 304.0 282.0 285.5 289.5 304.0 304.8 314.8 325.4 42

 43 FL643093075 Mortgage REITs 48.2 52.3 55.3 55.0 59.5 52.3 54.3 54.8 58.3 43

 44 FL663090005 Brokers and dealers 1713.7 1619.6 1870.2 1762.7 1695.1 1619.6 1711.0 1715.0 1700.6 44

 45 FL733090005 Holding companies 1060.3 1010.6 1114.2 1066.2 1040.1 1010.6 1029.8 1055.8 1081.5 45

 46 FL503093023 Other financial business 2.4 2.1 2.6 2.4 3.7 2.1 2.2 1.9 2.5 46

 47 FL263090005 Rest of the world 241.0 248.2 259.9 256.0 273.2 248.2 265.3 265.7 312.6 47

 48 FL903090005 Discrepancy -4172.2 -5430.1 -4969.6 -5592.8 -5664.2 -5430.1 -5384.8 -5122.5 -5069.1 48
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L.233 Identified Miscellaneous Financial Claims - Part I

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Holding company other investment in affiliates:

 1 FL763194705 Liab.: U.S.-chartered depository institutions 142.9 138.3 128.0 134.0 131.5 138.3 140.2 154.3 185.3 1

 2 FL513194703 Property-casualty insurance companies 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 2

 3 FL543194703 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 FL613194733 Finance companies 16.7 14.5 15.5 15.0 13.6 14.5 13.2 12.9 11.0 4

 5 FL663194705 Brokers and dealers 711.9 660.0 756.7 710.1 685.6 660.0 679.1 676.9 691.5 5

 6 FL263194735 Rest of the world 148.9 157.7 170.3 165.3 163.9 157.7 158.8 175.2 153.4 6

 7 FL733094735 Asset: Holding companies 1020.8 970.5 1070.6 1024.5 994.5 970.5 991.4 1019.4 1041.5 7

 Holding company balances due to affiliates:

 8 FL733194735 Liab.: Holding companies 473.7 587.7 524.7 550.0 606.5 587.7 602.8 609.9 646.9 8

 9 FL763094703 Asset: U.S.-chartered depository institutions 6.9 8.1 6.4 6.4 9.0 8.1 7.4 7.7 4.9 9

 10 FL513094703 Property-casualty insurance companies 0.4 1.2 0.0 0.2 1.3 1.2 1.1 0.6 0.0 10

 11 FL543094703 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL663094705 Brokers and dealers 290.5 396.8 323.8 353.3 389.3 396.8 397.4 405.6 400.7 12

 13 FL263094733 Rest of the world 175.9 181.6 194.4 190.2 207.0 181.6 196.9 195.9 241.3 13

 NFC other investment in finance company affiliates:

 14 FL103094705 Liab.: Finance companies 150.6 144.4 147.0 156.4 153.6 144.4 163.9 148.5 177.6 14

 15 FL103094705 Asset: Nonfinancial corporate business 150.6 144.4 147.0 156.4 153.6 144.4 163.9 148.5 177.6 15

 Securities brokers and dealers payables:

 16 FL663170605 Liab.: Brokers and dealers 656.9 624.2 728.8 660.9 643.2 624.2 670.1 668.0 644.7 16

 17 FL663070675 Other financial business 685.8 672.4 768.3 762.9 693.4 672.4 699.5 695.9 685.4 17

 18 FL663070605 Asset: Brokers and dealers 1342.7 1296.5 1497.0 1423.8 1336.5 1296.5 1369.5 1363.9 1330.1 18

 Paycheck Protection Program subsidies payable:

 19 FL313172003 Liab.: Federal government 100.1 3.0 48.0 19.8 6.8 3.0 1.3 0.5 0.0 19

 20 FL163072003 Asset: Nonprofit organizations 13.2 1.1 9.8 7.9 3.1 1.1 0.2 0.0 0.0 20

 21 FL103072005 Nonfinancial corporate business 43.3 0.0 16.7 2.2 0.0 0.0 0.0 0.0 0.0 21

 22 FL113072003 Nonfinancial noncorporate business 43.5 1.9 21.4 9.7 3.7 1.9 1.1 0.5 0.0 22

 23 FL613072003 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23
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L.234 Identified Miscellaneous Financial Claims - Part II

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Nonofficial foreign currencies:

 1 FL263191103 Liab.: Rest of the world 6.0 3.0 3.0 3.0 2.9 3.0 3.2 2.8 2.7 1

 2 FL313091105 Asset: Federal government 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.4 2

 3 FL713091103 Monetary authority (1) 3.3 0.4 0.4 0.3 0.3 0.4 0.6 0.2 0.2 3

 Postal Savings System deposits:

 4 FL313131003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL313131003 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 FL403197033 Liab.: Government-sponsored enterprises 14.3 10.4 14.1 13.3 12.0 10.4 15.1 13.3 13.3 6

 7 FL403197033 Asset: U.S.-chartered depository institutions 14.3 10.4 14.1 13.3 12.0 10.4 15.1 13.3 13.3 7

 Funding agreements backing securities:

 8 FL673090543 Liab.: Life insurance companies (2) 155.4 173.7 169.9 172.0 171.3 173.7 175.8 178.3 182.3 8

 9 FL673090543 Asset: ABS issuers 155.4 173.7 169.9 172.0 171.3 173.7 175.8 178.3 182.3 9

 Deferred and unpaid life insurance premiums:

 10 FL543077073 Liab.: Household sector 38.1 36.6 39.8 39.0 39.1 36.6 37.6 37.7 38.3 10

 11 FL543077073 Asset: Life insurance companies 38.1 36.6 39.8 39.0 39.1 36.6 37.6 37.7 38.3 11

 Other reserves at life insurance companies:

 12 FL543195005 Liab.: Life insurance companies 462.8 465.5 464.7 462.4 464.1 465.5 472.0 474.2 475.9 12

 13 FL263195105 Rest of the world 26.7 25.2 26.3 25.9 25.6 25.2 25.4 25.6 25.7 13

 14 FL153095105 Asset: Household sector 398.9 405.1 401.7 400.2 402.8 405.1 411.1 412.8 414.2 14

 15 FL543095105 Life insurance companies 90.6 85.7 89.3 88.1 86.9 85.7 86.4 87.0 87.4 15

 Policy payables:

 16 FL513176005 Liab.: Property-casualty insurance companies 1504.7 1624.7 1523.4 1562.8 1609.9 1624.7 1666.7 1701.1 1738.4 16

 17 FL263176005 Rest of the world 179.5 192.3 182.7 185.9 189.1 192.3 197.3 201.4 205.8 17

 18 FL153076005 Asset: Household sector 666.1 728.1 677.1 696.7 720.7 728.1 750.0 766.4 784.5 18

 19 FL103076005 Nonfinancial corporate business 450.2 483.3 453.8 465.9 481.0 483.3 495.0 504.9 515.7 19

 20 FL113076005 Nonfinancial noncorporate business 152.9 162.4 153.3 157.0 161.2 162.4 164.3 167.0 169.7 20

 21 FL513076005 Property-casualty insurance companies 349.8 376.6 356.5 363.2 369.9 376.6 386.3 394.3 402.9 21

 22 FL263076005 Rest of the world 65.1 66.6 65.5 65.9 66.3 66.6 68.4 69.8 71.3 22

 Unallocated insurance company contracts:

 23 FL593095005 Liab.: Life insurance companies 914.5 872.4 896.7 864.2 854.0 872.4 889.6 899.5 892.8 23

 24 FL573095005 Asset: Private pension funds 640.4 594.3 621.1 591.4 580.7 594.3 606.8 613.9 606.8 24

 25 FL223095505 State and local government retirement funds 274.1 278.1 275.5 272.8 273.3 278.1 282.8 285.6 286.0 25

 Pension fund contributions payable:

 26 FL573074005 Liab.: Nonfinancial corporate business 70.9 69.5 70.3 69.8 69.6 69.5 68.3 67.1 66.7 26

 27 FL573074005 Asset: Private pension funds 70.9 69.5 70.3 69.8 69.6 69.5 68.3 67.1 66.7 27

 Retiree health care funds:

 28 FL313195105 Liab.: Federal government (3) 345.1 383.6 346.8 353.3 357.6 383.6 382.8 386.4 386.3 28

 29 FL313195105 Asset: Household sector 345.1 383.6 346.8 353.3 357.6 383.6 382.8 386.4 386.3 29

 Claims of pension fund on sponsor:

 30 FL573073005 Liab.: Nonfinancial corporate business 55.4 720.0 280.1 657.8 806.2 720.0 614.3 537.3 647.9 30

 31 FL343073045 Federal government 1550.9 390.6 1316.4 1063.6 782.6 390.6 455.3 434.2 409.7 31

 32 FL223073045 State and local governments 3582.0 3208.3 3533.1 3635.6 3618.6 3208.3 3110.1 3103.0 3344.8 32

 33 FL573073005 Asset: Private pension funds 55.4 720.0 280.1 657.8 806.2 720.0 614.3 537.3 647.9 33

 34 FL343073045 Federal government retirement funds 1550.9 390.6 1316.4 1063.6 782.6 390.6 455.3 434.2 409.7 34

 35 FL223073045 State and local govt. retirement funds 3582.0 3208.3 3533.1 3635.6 3618.6 3208.3 3110.1 3103.0 3344.8 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See table L.133 in addition to L.223 and L.225.a.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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L.235 Unidentified Miscellaneous Financial Claims

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893193005 Total liabilities 12807.3 12960.4 12794.7 12720.8 12914.5 12960.4 13040.6 13376.7 13643.3 1

 2 FL103193005 Nonfinancial corporate business 8489.4 8390.9 8469.0 8349.1 8327.6 8390.9 8488.6 8706.2 8758.9 2

 3 FL113193003 Nonfinancial noncorporate business 2729.4 2779.4 2748.4 2761.0 2765.8 2779.4 2801.1 2828.2 2841.6 3

 4 FL313193013 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL713193005 Monetary authority 11.8 -11.4 9.4 7.7 6.7 -11.4 -34.9 -68.7 -95.1 5

 6 FL763193005 U.S.-chartered depository institutions 300.0 327.1 356.4 323.4 410.4 327.1 320.4 340.1 428.4 6

 7 FL753193005 Foreign banking offices in U.S. 102.2 189.6 112.9 140.3 168.6 189.6 140.8 156.5 168.1 7

 8 FL743193005 Banks in U.S.-affiliated areas 22.8 25.8 24.1 24.1 25.5 25.8 25.7 26.2 48.6 8

 9 FL473193005 Credit unions 28.3 32.7 29.5 33.1 30.6 32.7 42.4 63.0 70.1 9

 10 FL513193005 Property-casualty insurance companies 319.0 322.6 351.8 341.4 346.5 322.6 351.2 359.2 368.7 10

 11 FL543193005 Life insurance companies 468.8 418.4 457.1 445.3 456.9 418.4 445.7 462.8 469.6 11

 12 FL403193005 Government-sponsored enterprises 58.6 76.6 60.8 62.4 71.3 76.6 70.7 78.0 89.8 12

 13 FL613193005 Finance companies 326.9 381.7 333.8 367.9 363.8 381.7 376.2 397.0 412.3 13

 14 FL643193075 Mortgage REITs 17.1 19.4 22.9 20.8 33.1 19.4 21.1 23.2 21.0 14

 15 FL663193005 Brokers and dealers -300.4 -240.6 -330.8 -302.5 -265.0 -240.6 -235.9 -236.6 -252.7 15

 16 FL733193005 Holding companies 2.7 46.6 2.2 13.3 26.1 46.6 41.4 44.1 48.3 16

 17 FL503193005 Other financial business 230.6 201.7 147.1 133.5 146.5 201.7 186.2 197.7 265.6 17

 18 FL893093005 Total assets 16979.4 18390.5 17764.3 18313.6 18578.7 18390.5 18425.4 18499.2 18712.4 18

 19 FL103093005 Nonfinancial corporate business 7737.5 8567.7 8267.8 8610.5 8702.3 8567.7 8530.4 8596.5 8666.2 19

 20 FL113093005 Nonfinancial noncorporate business 4369.1 4564.0 4410.6 4462.1 4518.6 4564.0 4586.9 4606.4 4615.8 20

 21 FL213093003 State and local governments 127.0 127.9 126.7 128.9 134.4 127.9 121.3 107.0 91.1 21

 22 FL713093005 Monetary authority 32.0 35.7 31.4 32.9 32.8 35.7 33.7 37.2 40.0 22

 23 FL763093005 U.S.-chartered depository institutions 654.2 881.8 779.2 908.2 975.3 881.8 810.5 799.3 845.8 23

 24 FL753093005 Foreign banking offices in U.S. 76.9 138.1 84.8 99.0 114.5 138.1 104.0 105.1 118.4 24

 25 FL743093005 Banks in U.S.-affiliated areas 27.5 32.8 29.7 27.7 36.3 32.8 34.1 32.3 37.0 25

 26 FL473093005 Credit unions 126.5 103.1 128.6 117.7 106.3 103.1 98.3 96.9 88.1 26

 27 FL513093005 Property-casualty insurance companies 76.9 174.7 120.2 165.8 211.0 174.7 196.2 176.4 158.4 27

 28 FL543093005 Life insurance companies 723.3 835.7 750.9 780.8 830.5 835.7 843.8 875.9 901.6 28

 29 FL573093005 Private pension funds 981.1 1003.1 988.9 995.3 997.7 1003.1 995.6 991.8 1003.2 29

 30 FL223093005 State and local govt. retirement funds 946.2 1019.0 946.0 981.4 991.0 1019.0 1131.6 1175.0 1223.9 30

 31 FL633093005 Money market funds (net) -2.9 33.0 22.8 23.4 16.1 33.0 21.5 22.1 9.3 31

 32 FL653093005 Mutual funds 346.1 295.5 332.9 337.0 300.9 295.5 317.9 274.6 268.6 32

 33 LM563093003 Exchange-traded funds 133.2 131.9 165.5 151.8 130.0 131.9 137.3 131.0 124.0 33

 34 FL403093005 Government-sponsored enterprises 159.2 121.7 145.5 120.9 113.6 121.7 118.6 118.3 125.0 34

 35 FL613093005 Finance companies 294.8 304.0 282.0 285.5 289.5 304.0 304.8 314.8 325.4 35

 36 FL643093075 Mortgage REITs 48.2 52.3 55.3 55.0 59.5 52.3 54.3 54.8 58.3 36

 37 FL663093005 Brokers and dealers 80.6 -73.8 49.4 -14.4 -30.7 -73.8 -55.9 -54.5 -30.2 37

 38 FL733093005 Holding companies 39.5 40.2 43.6 41.7 45.6 40.2 38.4 36.4 40.0 38

 39 FL503093023 Other financial business 2.4 2.1 2.6 2.4 3.7 2.1 2.2 1.9 2.5 39

 40 FL903090005 Discrepancy -4172.2 -5430.1 -4969.6 -5592.8 -5664.2 -5430.1 -5384.8 -5122.5 -5069.1 40
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140 Z.1, December 7, 2023

B.101 Balance Sheet of Households and Nonprofit Organizations (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL152000005 Assets 169256.6 163579.6 171162.9 165688.1 162526.7 163579.6 166598.4 172427.8 171265.9 1

 2 LM152010005 Nonfinancial assets 51231.1 55649.3 55126.3 57602.1 56536.3 55649.3 55657.3 58347.5 58842.1 2

 3 LM155035005 Real estate 43415.4 47123.0 47020.2 49338.5 48093.1 47123.0 47017.5 49595.2 50064.2 3

 4 LM155035015 Households (2) 38902.0 42594.7 42541.3 44823.3 43521.6 42594.7 42541.0 45033.3 45543.6 4

 5 LM165035005 Nonprofit organizations 4513.4 4528.2 4478.9 4515.2 4571.5 4528.2 4476.6 4561.9 4520.7 5

 6 LM165015205 Equipment (nonprofits) (3) 582.5 627.9 595.3 608.2 617.8 627.9 645.7 650.0 659.2 6

 7 LM165013765 Intellectual property products (nonprofits) (3) 235.1 252.7 239.8 244.7 249.0 252.7 258.7 263.3 268.3 7

 8 LM155111005 Consumer durable goods (3) 6998.1 7645.6 7271.1 7410.7 7576.3 7645.6 7735.3 7839.0 7850.3 8

 9 FL154090005 Financial assets 118025.5 107930.3 116036.6 108086.0 105990.4 107930.3 110941.1 114080.2 112423.8 9

 10 LM153091003 Foreign deposits 48.2 51.7 50.3 51.5 53.0 51.7 51.0 49.9 49.1 10

 11 FL153020005 Checkable deposits and currency 4147.5 4537.7 4385.5 4700.0 4792.9 4537.7 4559.0 4462.6 4231.9 11

 12 FL153030005 Time and savings deposits 11063.8 10270.8 11106.9 10679.1 10343.1 10270.8 9846.8 9726.8 9803.4 12

 13 FL153034005 Money market fund shares 2803.7 3079.7 2778.2 2831.1 2918.7 3079.7 3387.2 3539.1 3690.1 13

 14 LM154022005 Debt securities 3259.4 4592.9 3259.3 3421.3 3923.3 4592.9 5275.4 5381.3 5474.9 14

 15 LM153061105 Treasury securities 607.6 1633.9 835.4 850.0 1237.7 1633.9 2099.0 2259.9 2404.4 15

 16 LM153061705 Agency- and GSE-backed securities 460.8 1077.4 512.6 702.5 889.3 1077.4 1225.2 1159.3 1174.6 16

 17 LM153062005 Municipal securities 1809.7 1623.1 1657.0 1615.7 1543.2 1623.1 1687.3 1695.3 1627.9 17

 18 LM153063005 Corporate and foreign bonds 381.2 258.5 254.2 253.1 253.0 258.5 263.8 266.8 268.0 18

 19 FL154023005 Loans 1296.2 1214.6 1398.5 1347.8 1280.4 1214.6 1185.2 1184.2 1117.6 19

 20 FL153069005 Other loans and advances (4) 1187.5 1118.2 1292.6 1245.4 1181.0 1118.2 1089.2 1090.0 1024.8 20

 21 FL153065005 Mortgages 86.6 77.7 84.5 82.0 79.9 77.7 77.4 76.0 75.4 21

 22 FL163066223 Consumer credit (student loans) (5) 22.0 18.7 21.3 20.5 19.5 18.7 18.6 18.2 17.3 22

 23 LM153064105 Corporate equities 31782.0 26504.9 31044.2 26025.6 25158.5 26504.9 28142.4 29891.4 28852.3 23

 24 LM153081115 Miscellaneous other equity 15659.3 16316.9 16075.7 16706.5 16711.3 16316.9 15987.9 16230.4 16270.0 24

 25 LM153064205 Mutual fund shares 12822.0 9749.3 11864.2 10047.6 9354.0 9749.3 10195.4 10670.3 10235.9 25

 26 FL153040005 Life insurance reserves 1944.9 1933.3 1935.1 1907.6 1907.7 1933.3 1966.8 1996.5 1987.1 26

 27 FL153050005 Pension entitlements (6) 31489.0 27867.7 30415.3 28619.9 27772.0 27867.7 28504.8 29085.5 28828.0 27

 28 FL163070005 Trade receivables (5) 286.3 293.2 288.0 289.7 291.5 293.2 295.0 296.7 298.5 28

 29 FL153090005 Miscellaneous assets 1423.3 1517.8 1435.4 1458.2 1484.1 1517.8 1544.1 1565.5 1585.0 29

 30 FL154190005 Liabilities 18817.3 19924.3 19017.7 19375.7 19702.9 19924.3 19958.7 20127.3 20277.2 30

 31 FL163162003 Debt securities (municipal securities) (5) 202.6 201.7 204.6 202.1 201.4 201.7 201.7 204.0 204.0 31

 32 FL154123005 Loans 18105.7 19182.0 18294.0 18647.1 18966.7 19182.0 19207.4 19365.8 19507.0 32

 33 FL153165105 One-to-four-family residential mortgages (7) 11923.5 12693.1 12062.3 12322.9 12536.6 12693.1 12748.8 12841.1 12925.8 33

 34 FL153166000 Consumer credit 4548.5 4894.0 4577.0 4694.1 4789.3 4894.0 4886.5 4940.8 4967.3 34

 35 FL153168005 Depository institution loans n.e.c. 423.0 492.5 437.6 457.8 469.1 492.5 471.2 465.4 465.1 35

 36 FL153169005 Other loans and advances 820.6 692.1 822.0 772.2 766.4 692.1 684.1 695.3 719.0 36

 37 FL163165505 Commercial mortgages (5) 390.1 410.2 395.1 400.2 405.2 410.2 416.7 423.3 429.8 37

 38 FL163170005 Trade payables (5) 470.9 504.0 479.2 487.5 495.8 504.0 512.0 519.9 527.8 38

 39 FL543077073 Deferred and unpaid life insurance premiums 38.1 36.6 39.8 39.0 39.1 36.6 37.6 37.7 38.3 39

 40 FL152090005 Net worth 150439.3 143655.3 152145.3 146312.4 142823.8 143655.3 146639.6 152300.4 150988.7 40

 Memo:

 41 FL893131573 Assets held in IRAs (8) 14460.0 11950.0 13630.0 12050.0 11375.0 11950.0 12465.0 12955.0 ND 41

 42 FL154023205 Assets held in 529 college plans (8) 480.3 411.3 457.7 413.4 388.2 411.3 432.5 450.7 431.5 42

 43 LM154023223 College savings plans 452.6 388.0 431.7 389.3 365.5 388.0 408.5 426.9 408.6 43

 44 FL154023213 Prepaid tuition plans 27.7 23.3 26.0 24.1 22.7 23.3 24.1 23.8 22.9 44

 Replacement-cost value of structures:

 45 LM155012605 Residential 24042.4 26981.1 25130.3 26103.8 26647.9 26981.1 26878.3 26900.2 27322.2 45

 46 LM155012665 Households 23674.7 26573.1 24747.2 25707.2 26243.9 26573.1 26472.7 26495.1 26911.7 46

 47 LM165012665 Nonprofit organizations 367.7 408.0 383.0 396.6 404.1 408.0 405.6 405.1 410.6 47

 48 LM165013665 Nonresidential (nonprofits) 2439.3 2832.8 2537.9 2651.5 2767.8 2832.8 2890.4 2906.1 2899.0 48

 49 FA156012005 Disposable personal income (DPI) (SAAR) 18664.4 18702.5 18247.8 18501.9 18881.7 19178.4 19880.2 20164.2 20308.2 49

 50 FL152090006 Net worth/DPI (percent) (line 40/line 49) 806.02 768.11 833.78 790.80 756.41 749.05 737.62 755.30 743.49 50

 51 FL155035065 Owners’ equity in real estate (line 4 less line 33) 26978.4 29901.6 30479.0 32500.4 30985.0 29901.6 29792.1 32192.2 32617.7 51

 52 FL155035066 Owners’ equity/real estate (percent) (line 51/line 4) 69.35 70.20 71.65 72.51 71.19 70.20 70.03 71.49 71.62 52

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary balance sheet tables B.101.h and B.101.n show estimates of annual year-end outstandings of

 households and nonprofit organizations, respectively. Detail on the sector’s indirect holdings of debt securities and equity is shown on table B.101.e.

(2) 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. At market value.

(3) At replacement (current) cost.

(4) Includes cash accounts at brokers and dealers and syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(5) Student loans and trade receivables are financial assets of nonprofit organizations; municipal securities, commercial mortgages, and trade payables are liabilities.

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

(7) Includes loans made under home equity lines of credit and home equity loans secured by junior liens (table L.218, line 23).

(8) Included in assets shown on the household balance sheet.
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B.103 Balance Sheet of Nonfinancial Corporate Business

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL102000005 Assets 57702.1 57572.9 57717.1 56748.9 56492.3 57572.9 58446.7 59489.9 59572.0 1

 2 LM102010005 Nonfinancial assets 29466.8 30572.1 29607.2 29983.0 30435.5 30572.1 30712.2 31152.3 31168.8 2

 3 LM105035005 Real estate (market value) 17119.3 17110.9 16842.2 16835.0 17133.9 17110.9 17024.3 17408.9 17243.9 3

 4 LM105015205 Equipment (replacement cost) 5827.3 6282.6 5956.9 6088.6 6181.7 6282.6 6429.5 6437.5 6497.3 4

 5 LM105013765 Intellectual property products (replacement cost) 3359.4 3686.9 3445.0 3534.4 3611.0 3686.9 3784.3 3871.5 3951.7 5

 6 LM105020015 Inventories (replacement cost) 3160.8 3491.6 3363.1 3525.0 3508.8 3491.6 3474.1 3434.4 3476.0 6

 7 FL104090005 Financial assets 28235.3 27000.8 28109.9 26765.9 26056.8 27000.8 27734.5 28337.6 28403.2 7

 8 FL103091003 Foreign deposits 166.3 190.6 185.6 160.6 163.3 190.6 186.8 209.1 217.2 8

 9 FL103020005 Checkable deposits and currency 2049.8 2010.3 2001.0 1877.6 1894.0 2010.3 1969.6 1937.5 2060.6 9

 10 FL103030003 Time and savings deposits 283.7 297.1 284.6 264.4 295.6 297.1 274.9 391.7 415.4 10

 11 FL103034000 Money market fund shares 813.1 739.5 766.5 740.1 726.5 739.5 810.1 843.6 881.5 11

 12 FL102051003 Security repurchase agreements 26.7 28.5 30.0 24.6 24.7 28.5 30.7 30.1 29.7 12

 13 LM104022005 Debt securities 409.6 369.1 378.0 400.0 358.2 369.1 370.1 380.8 417.3 13

 14 FL103069100 Commercial paper 256.3 204.8 229.1 248.3 209.2 204.8 205.0 197.1 228.2 14

 15 LM103061103 Treasury securities 79.7 91.7 75.1 81.2 80.6 91.7 92.3 106.6 111.2 15

 16 LM103061703 Agency- and GSE-backed securities 26.6 30.6 25.0 27.1 26.9 30.6 30.8 35.5 37.1 16

 17 LM103062003 Municipal securities 27.3 23.8 25.4 24.4 23.3 23.8 24.2 24.2 23.1 17

 18 LM123063003 Corporate bonds (held by equity REITs) 19.8 18.3 23.3 19.1 18.2 18.3 17.8 17.4 17.7 18

 19 FL104023005 Loans 149.0 184.9 157.9 177.3 180.1 184.9 194.2 199.1 203.4 19

 20 FL103065005 Mortgages 113.2 149.1 123.2 142.3 145.1 149.1 159.5 164.2 168.4 20

 21 FL103066005 Consumer credit 35.8 35.8 34.7 34.9 35.0 35.8 34.7 34.9 35.0 21

 22 LM103092305 U.S. direct investment abroad: intercompany debt -29.7 -59.9 -63.9 -39.9 -65.0 -59.9 -21.0 -56.7 -35.8 22

 23 LM103064103 Corporate equities 3144.9 2396.0 2945.7 2428.2 2268.8 2396.0 2530.0 2705.6 2572.6 23

 24 LM103092105 U.S. direct investment abroad: equity 7980.0 6693.8 7529.7 6373.4 5868.2 6693.8 7258.2 7479.5 7235.6 24

 25 FL103092405 Equity in GSEs 1.6 1.7 1.9 1.8 1.7 1.7 2.1 1.9 1.9 25

 26 LM103064203 Mutual fund shares 444.4 358.5 415.1 360.7 339.7 358.5 375.3 389.8 375.2 26

 27 FL103070005 Trade receivables 4414.3 4595.3 4592.4 4762.1 4664.4 4595.3 4564.1 4575.5 4669.1 27

 28 FL103090005 Miscellaneous assets 8381.7 9195.4 8885.3 9235.0 9336.9 9195.4 9189.3 9249.9 9359.5 28

 29 FL104190005 Liabilities 25012.9 26729.2 25775.6 26365.8 26611.5 26729.2 26821.5 26968.4 27270.4 29

 30 FL104122005 Debt securities 7932.7 8013.0 8033.8 7998.1 8008.9 8013.0 8181.1 8200.7 8219.4 30

 31 FL103169100 Commercial paper 138.2 197.6 188.7 188.1 198.8 197.6 206.2 192.7 203.1 31

 32 FL103162000 Municipal securities (1) 618.0 618.8 622.2 625.4 619.7 618.8 618.9 621.7 618.8 32

 33 FL103163005 Corporate bonds 7176.5 7196.6 7222.8 7184.6 7190.4 7196.6 7356.0 7386.3 7397.4 33

 34 FL104123005 Loans 4708.4 5433.9 5014.1 5251.8 5319.8 5433.9 5461.8 5478.6 5487.1 34

 35 FL103168005 Depository institution loans n.e.c. 1123.0 1475.4 1270.9 1392.9 1417.1 1475.4 1492.3 1488.1 1475.0 35

 36 FL103169005 Other loans and advances 2491.3 2692.8 2609.1 2665.8 2670.2 2692.8 2683.1 2693.1 2700.5 36

 37 FL103165005 Mortgages 1094.2 1265.7 1134.1 1193.2 1232.5 1265.7 1286.3 1297.4 1311.6 37

 38 LM103192305 Foreign direct investment: intercompany debt 311.9 381.7 320.5 331.1 362.4 381.7 373.7 363.2 350.5 38

 39 FL103170005 Trade payables 3194.4 3442.7 3281.9 3430.6 3436.7 3442.7 3324.7 3346.8 3465.8 39

 40 FL103178005 Taxes payable 249.8 277.5 306.0 277.4 280.3 277.5 309.0 268.6 274.1 40

 41 FL103190005 Miscellaneous liabilities 8615.7 9180.5 8819.4 9076.7 9203.3 9180.5 9171.2 9310.6 9473.6 41

 42 FL102090005 Net worth 32689.2 30843.7 31941.5 30383.1 29880.9 30843.7 31625.2 32521.5 32301.6 42

 Memo:

 43 LM103164105 Corporate equities (market value) 53257.4 41472.9 50602.7 41876.4 39946.8 41472.9 44667.0 48266.4 46205.4 43

 44 LM103164115 Public issues 44779.2 34082.9 41893.6 34389.5 32571.8 34082.9 36998.0 40110.8 38381.7 44

 45 LM103164125 Private issues 8478.2 7390.1 8709.2 7487.0 7375.0 7390.1 7669.0 8155.7 7823.7 45

 46 LM103192105 Foreign direct investment: equity 11258.2 9129.8 10712.5 8974.7 8502.1 9129.8 9824.4 10627.1 10320.3 46

 47 FL103164106 Equities/net worth (percent) (2) 197.36 164.06 191.96 167.37 162.14 164.06 172.30 181.09 174.99 47

 48 FL104104016 Debt/equities (percent) (2) 19.59 26.57 21.28 26.06 27.51 26.57 25.04 23.23 24.25 48

 49 FL104104006 Debt/net worth (percent) (2) 38.67 43.60 40.85 43.61 44.61 43.60 43.14 42.06 42.43 49

 With nonfinancial assets stated at historical cost:

 50 FL102000115 Assets (sum of lines 7 and 50) 46029.9 45871.7 46275.9 45197.6 44741.7 45871.7 46875.6 47608.2 47884.5 50

 51 FL102010115 Nonfinancial assets 17794.6 18870.9 18166.0 18431.8 18684.8 18870.9 19141.1 19270.6 19481.4 51

 52 FL105035045 Real estate 6973.5 7210.7 7036.7 7076.8 7148.8 7210.7 7296.1 7376.5 7482.9 52

 53 FL105013213 Equipment 5300.1 5496.2 5342.6 5390.4 5443.0 5496.2 5547.9 5600.7 5650.4 53

 54 FL105013715 Intellectual property products 3031.5 3288.5 3093.0 3157.3 3222.5 3288.5 3354.8 3420.9 3487.3 54

 55 FL105020000 Inventories 2489.6 2875.6 2693.6 2807.3 2870.6 2875.6 2942.3 2872.6 2860.7 55

 56 FL102090115 Net worth (historical cost) (line 49 less line 28) 21017.0 19142.5 20500.2 18831.9 18130.2 19142.5 20054.1 20639.7 20614.1 56

 Memo:

 Historical-cost value of structures:

 57 FL105012613 Residential 134.4 143.5 136.8 139.3 141.5 143.5 145.4 147.2 149.2 57

 58 FL105013613 Nonresidential 6201.1 6449.6 6257.4 6317.4 6381.3 6449.6 6528.1 6611.3 6695.4 58

(1) 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.

(2) Debt is calculated as the sum of debt securities (line 29) and loans (line 33). The ratios on line 46 and 47 use the sum of corporate equities (line 42) and foreign direct investment: equity (line 45).
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B.104 Balance Sheet of Nonfinancial Noncorporate Business

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL112000005 Assets 26265.6 27425.6 26840.2 27597.8 27686.2 27425.6 27191.0 27505.1 27588.2 1

 2 LM112010005 Nonfinancial assets 18556.7 19377.2 19027.9 19707.1 19731.5 19377.2 19081.5 19347.4 19409.8 2

 3 LM115035005 Real estate (1) 16895.8 17583.9 17321.1 17962.7 17968.0 17583.9 17278.4 17560.6 17629.0 3

 4 LM115035023 Residential 10056.0 10548.6 10538.3 11132.8 10987.5 10548.6 10231.8 10352.0 10418.0 4

 5 LM115035035 Nonresidential 6839.8 7035.3 6782.8 6829.9 6980.5 7035.3 7046.7 7208.5 7211.1 5

 6 LM115015205 Equipment (2) 1000.4 1071.2 1025.2 1046.3 1057.9 1071.2 1058.2 1022.4 995.8 6

 7 LM115012265 Residential (3) 87.9 91.3 91.2 92.2 91.2 91.3 90.6 88.0 87.5 7

 8 LM115013265 Nonresidential 912.5 980.0 934.0 954.0 966.7 980.0 967.6 934.4 908.3 8

 9 LM115013765 Intellectual property products (2) 375.4 413.1 385.7 396.3 405.2 413.1 429.9 446.0 460.7 9

 10 LM115020005 Inventories (2) 285.1 308.9 296.0 301.9 300.4 308.9 314.9 318.4 324.3 10

 11 FL114090005 Financial assets 7709.0 8048.4 7812.3 7890.7 7954.7 8048.4 8109.6 8157.6 8178.4 11

 12 FL113020005 Checkable deposits and currency 469.5 512.1 500.5 512.8 507.1 512.1 514.1 517.4 518.6 12

 13 FL113030003 Time and savings deposits 1381.6 1452.9 1425.1 1424.7 1423.9 1452.9 1479.9 1491.5 1495.3 13

 14 FL113034003 Money market fund shares 130.7 137.0 131.3 133.8 135.4 137.0 137.7 138.9 139.2 14

 15 LM114022005 Debt securities 75.9 76.9 72.3 74.3 75.8 76.9 77.0 77.8 78.5 15

 16 LM113061003 Treasury securities 71.3 71.9 67.5 69.4 70.9 71.9 72.0 72.8 73.5 16

 17 LM113062003 Municipal securities 4.7 5.0 4.8 4.9 4.9 5.0 5.1 5.1 5.0 17

 18 FL114023005 Loans 51.6 55.4 52.8 53.9 54.6 55.4 55.7 56.2 56.3 18

 19 FL113065005 Mortgages 51.6 55.4 52.8 53.9 54.6 55.4 55.7 56.2 56.3 19

 20 FL113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL113092405 Equity investment in GSEs (4) 14.2 15.1 14.3 14.3 15.2 15.1 17.0 17.6 17.9 21

 22 FL113070003 Trade receivables 1019.9 1070.7 1030.7 1048.0 1059.1 1070.7 1075.8 1084.3 1087.0 22

 23 FL113090005 Miscellaneous assets 4565.5 4728.3 4585.3 4628.9 4683.6 4728.3 4752.3 4774.0 4785.5 23

 24 FL113076005 Insurance receivables 152.9 162.4 153.3 157.0 161.2 162.4 164.3 167.0 169.7 24

 25 FL113072003 PPP subsidies receivable 43.5 1.9 21.4 9.7 3.7 1.9 1.1 0.5 0.0 25

 26 FL113093005 Other 4369.1 4564.0 4410.6 4462.1 4518.6 4564.0 4586.9 4606.4 4615.8 26

 27 FL114190005 Liabilities 10567.9 11105.2 10722.4 10872.1 10966.6 11105.2 11201.4 11266.2 11311.0 27

 28 FL114123005 Loans 6889.2 7321.9 7009.0 7133.6 7212.5 7321.9 7392.2 7422.3 7452.3 28

 29 FL113168005 Depository institution loans n.e.c. 1555.8 1633.6 1572.6 1598.0 1608.1 1633.6 1643.3 1637.5 1618.6 29

 30 FL113169005 Other loans and advances 428.9 472.0 450.4 456.5 458.9 472.0 473.8 461.9 467.4 30

 31 FL113165005 Mortgages 4904.4 5216.3 4986.0 5079.1 5145.4 5216.3 5275.2 5323.0 5366.3 31

 32 LM115114305 Foreign direct investment: intercompany debt 5.3 5.5 5.4 5.3 5.5 5.5 5.4 5.2 5.0 32

 33 FL113170005 Trade payables 741.7 784.6 754.5 763.5 771.7 784.6 787.3 792.3 792.8 33

 34 FL113178003 Taxes payable 202.3 213.7 205.2 208.7 211.0 213.7 215.4 218.2 219.3 34

 35 FL113193003 Miscellaneous liabilities 2729.4 2779.4 2748.4 2761.0 2765.8 2779.4 2801.1 2828.2 2841.6 35

 36 FL112090005 Net worth 15697.7 16320.4 16117.8 16725.6 16719.6 16320.4 15989.6 16238.8 16277.2 36

 Memo:

 37 LM112090205 Proprietors’ net investment (5) 15553.1 16207.1 15980.8 16612.6 16613.8 16207.1 15870.1 16110.4 16149.0 37

 38 LM115114103 Foreign direct investment: equity 144.6 113.3 137.0 113.0 105.8 113.3 119.5 128.5 128.2 38

 Replacement-cost value of structures:

 39 FL115012665 Residential 4765.9 5270.6 4963.7 5139.0 5222.9 5270.6 5240.1 5232.9 5304.1 39

 40 FL115013665 Nonresidential 2681.0 3041.4 2774.6 2881.8 2989.0 3041.4 3052.5 3018.9 2962.0 40

 41 FL114104006 Debt/net worth (percent) (line 27/line 36) 43.89 44.86 43.49 42.65 43.14 44.86 46.23 45.71 45.78 41

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Included in table B.101, line 24.
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Z.1, December 7, 2023 143

R.101 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FC152090005 Change in net worth (1) 18968.6 -6784.0 1706.0 -5832.9 -3488.6 831.5 2984.3 5660.8 -1311.7 1

 2 FU155060005 Net investment 2515.9 1510.6 675.0 -112.1 313.8 633.9 746.9 205.9 392.7 2

 3 FU155061005 Net physical investment 934.5 807.8 238.2 212.7 192.2 164.8 178.3 171.6 170.1 3

 4 FU155050005 Capital expenditures 3022.3 3188.2 809.2 804.2 795.9 778.9 793.7 793.1 800.6 4

 5 FU155012005 Residential 937.7 970.8 253.8 253.2 238.8 225.0 222.2 220.5 225.0 5

 6 FU165013005 Nonprofit nonresidential 254.7 275.0 71.6 66.7 68.3 68.4 70.8 72.2 72.6 6

 7 FU155111003 Consumer durable goods 1844.8 1957.9 487.6 488.1 492.7 489.5 504.6 504.4 507.0 7

 8 FU155420003 Nonproduced nonfinancial assets -14.9 -15.5 -3.8 -3.9 -3.9 -3.9 -4.0 -4.0 -4.0 8

 9 FU156300005 - Consumption of fixed capital 2087.8 2380.4 571.0 591.5 603.8 614.2 615.4 621.5 630.5 9

 10 FU156320005 Residential 522.7 602.2 144.9 149.5 153.2 154.6 154.6 155.6 158.1 10

 11 FU166330005 Nonprofit nonresidential 199.3 218.8 52.6 54.3 55.7 56.2 56.2 56.5 57.5 11

 12 FU156300103 Consumer durable goods 1365.8 1559.4 373.5 387.7 394.8 403.4 404.7 409.4 414.9 12

 13 FU155000005 Net lending (+) or net borrowing (-) 1581.4 702.8 436.8 -324.8 121.7 469.1 568.6 34.3 222.6 13

 14 FU154090005 Net acquisition of financial assets 2852.4 1877.9 724.1 34.2 449.7 669.9 603.8 203.7 374.1 14

 15 FU154190005 - Net increase in liabilities 1271.0 1175.1 287.3 358.9 328.0 200.8 35.3 169.4 151.5 15

 16 FR158000005 Net holding gains 16921.1 -6570.3 1419.9 -5254.5 -3578.2 842.5 2178.8 5361.8 -1819.4 16

 17 FR152010085 Nonfinancial assets 6712.3 3640.7 3658.1 2261.6 -1227.4 -1051.7 -169.1 2518.9 327.1 17

 18 FR155035005 Real estate 6197.3 3361.6 3493.9 2211.8 -1301.9 -1042.2 -175.4 2508.7 400.6 18

 19 FR165015205 Equipment (2) 19.1 23.1 5.0 8.0 4.5 5.6 13.1 -0.8 4.7 19

 20 FR165013765 Intellectual property products (2) 3.1 7.0 0.5 2.6 2.2 1.7 3.5 2.2 2.6 20

 21 FR155111005 Consumer durable goods (2) 492.8 249.0 158.8 39.2 67.7 -16.8 -10.3 8.7 -80.9 21

 22 FR154090005 Financial assets 10208.7 -10211.0 -2238.2 -7516.1 -2350.8 1894.1 2347.8 2842.9 -2146.5 22

 23 FR154022005 Debt securities -123.2 -439.5 -214.6 -133.7 -153.3 62.1 100.6 -67.9 -189.1 23

 24 FR153064105 Corporate equities 5027.3 -6013.2 -993.1 -5063.1 -1141.7 1184.8 1535.1 1840.4 -1237.0 24

 25 FR152090205 Equity in noncorporate business 2540.2 764.5 511.4 650.2 2.9 -400.0 -263.8 211.3 10.6 25

 26 FR153094305 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FR153064205 Mutual fund shares 1288.8 -2344.5 -812.3 -1508.9 -562.7 539.3 473.3 411.2 -371.2 27

 28 FR153040005 Life insurance reserves 47.0 -71.0 -25.5 -45.0 -16.7 16.2 16.9 11.0 -12.2 28

 29 FR153050005 Pension entitlements 1432.2 -2105.9 -703.4 -1414.9 -479.4 491.9 485.8 436.8 -347.6 29

 30 FR153030005 Other financial assets -3.6 -1.4 -0.6 -0.8 0.1 -0.2 -0.0 0.0 0.0 30

 31 FV158090005 Other volume changes (3) -468.3 -1724.3 -389.0 -466.3 -224.2 -644.8 58.7 93.2 115.0 31

 Memo:

 32 FL152090005 Net worth outstanding (4) 150439.3 143655.3 152145.3 146312.4 142823.8 143655.3 146639.6 152300.4 150988.7 32

 33 FA156012005 Disposable personal income 18664.4 18702.5 18247.8 18501.9 18881.7 19178.4 19880.2 20164.2 20308.2 33

(1) Sum of net investment (line 2), net holding gains (line 16), and other volume changes (line 31).

(2) Valued at current cost.

(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.101, line 40.
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144 Z.1, December 7, 2023

R.103 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FC102090005 Change in net worth (1) 5775.9 -1845.5 -747.7 -1558.4 -502.2 962.9 781.4 896.3 -219.9 1

 2 FU105060005 Net investment 953.4 885.9 452.9 380.3 157.4 -104.7 -4.7 91.7 423.3 2

 3 FU105061005 Net physical investment 670.4 823.1 347.9 179.4 208.5 87.4 168.3 92.5 163.0 3

 4 FU105050005 Capital expenditures 2231.6 2731.6 770.0 618.2 713.3 630.0 710.0 640.9 712.3 4

 5 FU105019005 Fixed investment 2215.1 2483.2 597.6 615.9 631.2 638.4 654.1 666.1 671.8 5

 6 FU105020005 Inventory change + IVA 10.7 143.6 92.1 -1.2 60.3 -7.6 56.8 -24.2 40.6 6

 7 FU105420005 Nonproduced nonfinancial assets 5.8 104.8 80.3 3.5 21.8 -0.8 -0.9 -0.9 -0.1 7

 8 FU106300003 - Consumption of fixed capital 1818.3 2004.7 482.3 495.8 509.0 517.6 530.4 538.3 544.5 8

 9 FU106320005 Residential 8.7 9.8 2.3 2.4 2.5 2.5 2.6 2.6 2.7 9

 10 FU106330005 Nonresidential 1809.6 1994.9 480.0 493.4 506.5 515.0 527.8 535.6 541.8 10

 11 FU105020601 - Inventory valuation adjustment -257.1 -96.2 -60.2 -56.9 -4.2 25.1 11.3 10.1 4.9 11

 12 FU105000005 Net lending (+) or net borrowing (-) 63.4 313.8 172.6 307.0 6.6 -172.3 -187.3 23.0 256.0 12

 13 FU104090005 Net acquisition of financial assets 1334.6 1169.4 661.7 435.9 53.8 17.9 35.8 241.8 469.0 13

 14 FU104194005 - Net increase in liabilities and equity 1271.2 855.6 489.1 129.0 47.3 190.2 223.1 218.8 213.0 14

 15 FU103164105 Net corporate equity issues -166.3 -515.7 -132.9 -183.1 -131.8 -67.9 -96.5 -89.2 -94.7 15

 16 FU103192105 Foreign direct investment: equity 385.8 264.7 65.3 77.1 74.2 48.1 110.7 65.4 99.0 16

 17 FR108000005 Net holding gains 4962.0 -2512.3 -1100.9 -1903.6 -607.0 1099.1 795.4 823.4 -648.3 17

 18 FR102010005 Nonfinancial assets 2984.5 480.9 -116.6 237.5 288.1 71.9 -19.0 366.4 -151.8 18

 19 FR105035005 Real estate 2349.3 -72.5 -303.6 -7.7 278.4 -39.6 -122.7 354.3 -222.8 19

 20 FR105015205 Equipment (2) 341.1 339.4 101.0 101.1 65.5 71.8 121.1 -18.3 36.4 20

 21 FR105013765 Intellectual property products (2) 74.3 123.0 36.0 37.9 24.9 24.2 45.7 35.9 28.7 21

 22 FR105020015 Inventories (2,3) 219.9 91.0 50.0 106.1 -80.7 15.6 -63.0 -5.4 5.9 22

 23 FR108080095 Financial assets 1676.3 -2418.6 -787.1 -1794.7 -762.9 926.0 697.9 361.3 -403.4 23

 24 FR104022005 Debt securities -5.5 -22.0 -9.6 -6.6 -7.3 1.6 4.0 -2.4 -6.3 24

 25 FR103092305 U.S. direct investment abroad: intercompany debt -10.7 41.9 -4.2 14.8 30.4 0.8 7.8 -21.8 0.0 25

 26 FR103064103 Corporate equities 703.1 -611.6 -159.7 -484.4 -128.1 160.6 168.4 210.0 -98.7 26

 27 FR103092105 U.S. direct investment abroad: equity 942.0 -1749.4 -587.0 -1266.9 -639.1 743.6 500.4 159.7 -285.5 27

 28 FR103064203 Mutual fund shares 46.7 -81.5 -28.1 -53.3 -19.9 19.9 17.9 15.6 -13.6 28

 29 FR103090005 Miscellaneous assets 0.8 4.1 1.7 1.8 1.2 -0.5 -0.5 0.2 0.6 29

 30 FR108100005 Less: liabilities -301.2 574.7 197.2 346.4 132.2 -101.2 -116.5 -95.7 93.1 30

 31 FR103192305 Foreign direct investment: intercompany debt -8.1 0.3 -2.1 -1.5 1.2 2.7 -1.4 -10.4 0.0 31

 32 FR573073005 Claims of pension fund on sponsor -293.1 574.4 199.3 347.9 131.0 -103.9 -115.1 -85.3 93.1 32

 33 FR103193005 Miscellaneous liabilities -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 33

 34 FV108090005 Other volume changes (4) -139.6 -219.0 -99.7 -35.1 -52.7 -31.5 -9.3 -18.8 5.1 34

 Memo:

 35 FL102090005 Net worth outstanding (5) 32689.2 30843.7 31941.5 30383.1 29880.9 30843.7 31625.2 32521.5 32301.6 35

(1) Sum of net investment (line 2), net holding gains (line 17), and other volume changes (line 34).

(2) Valued at current cost.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 41.
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Z.1, December 7, 2023 145

R.104 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FC112090005 Change in net worth (1) 2406.3 622.6 420.1 607.8 -6.0 -399.3 -330.8 249.2 38.4 1

 2 FU115440005 Net capital transfers paid -5.2 -10.1 0.0 0.0 -9.0 -1.1 0.0 0.0 0.0 2

 3 FU115060005 Net investment -123.5 -84.6 -82.8 -18.0 21.1 -5.0 -73.2 29.2 28.3 3

 4 FU115061005 Net physical investment 92.6 101.6 -36.5 50.2 47.6 40.3 -36.1 44.8 49.3 4

 5 FU115050005 Capital expenditures 491.0 546.9 70.8 160.7 160.6 154.8 79.6 161.5 167.4 5

 6 FU115019005 Fixed investment 490.0 533.2 63.7 158.9 160.5 150.1 79.8 160.5 162.3 6

 7 FU115020005 Change in inventories 1.0 13.7 7.1 1.8 0.1 4.7 -0.2 1.0 5.1 7

 8 FU116300005 - Consumption of fixed capital 398.4 445.2 107.3 110.5 113.0 114.4 115.7 116.8 118.1 8

 9 FU116320005 Residential 123.7 140.3 33.7 34.4 35.4 36.8 40.1 41.5 41.4 9

 10 FU116330005 Nonresidential 274.7 304.9 73.6 76.1 77.6 77.7 75.6 75.3 76.7 10

 11 FU115000005 Net lending (+) or net borrowing (-) -87.4 -91.5 36.5 -50.2 -38.6 -39.2 36.1 -44.8 -49.3 11

 12 FU114090005 Net acquisition of financial assets 703.1 351.3 108.2 81.7 68.0 93.3 59.2 49.5 23.9 12

 13 FU114194005 - Net increase in liabilities and equity 790.4 442.8 71.7 131.9 106.6 132.6 23.1 94.2 73.2 13

 14 FU115114103 Foreign direct investment: equity 0.8 0.5 0.3 -0.1 0.0 0.1 0.1 0.4 0.3 14

 15 FU112090205 Proprietor’s net investment (2) -129.5 -95.2 -83.2 -17.9 12.1 -6.2 -73.3 28.9 28.0 15

 16 FR118000005 Net holding gains 2560.0 720.3 502.9 625.7 -13.9 -394.3 -257.7 219.9 10.0 16

 17 FR112010005 Nonfinancial assets 2564.1 732.2 507.8 629.0 -9.9 -394.6 -259.6 221.2 13.1 17

 18 FR115035023 Residential real estate 1569.0 460.3 501.5 562.3 -162.4 -441.2 -289.7 102.7 47.4 18

 19 FR115035035 Nonresidential real estate 835.1 145.4 -56.8 33.0 132.0 37.2 3.1 139.9 -25.3 19

 20 FR115012265 Residential equipment (3) 6.2 -1.6 1.9 -0.3 -2.2 -1.0 -1.9 -3.7 -1.4 20

 21 FR115013265 Nonresidential equipment (3) 100.9 103.8 52.0 25.5 21.6 4.6 13.6 -29.2 -15.9 21

 22 FR115013765 Intellectual property products (3) 8.9 14.3 5.5 4.3 2.6 1.8 9.3 9.0 7.4 22

 23 FR115020005 Inventories (3) 44.0 10.1 3.7 4.1 -1.6 3.9 6.2 2.5 0.8 23

 24 FR114022005 Financial assets (debt securities) -4.2 -11.8 -4.9 -3.3 -4.0 0.4 1.9 -1.4 -3.1 24

 Less: liabilities (foreign direct

 25 FR115114305 investment: intercompany debt) -0.1 0.0 -0.0 -0.0 0.0 0.0 -0.0 -0.2 0.0 25

 26 FV118090005 Other volume changes (4) -25.1 -2.9 0.1 0.1 -4.2 1.2 0.1 0.1 0.1 26

 Memo:

 27 LM112090005 Net worth outstanding (5) 15697.7 16320.4 16117.8 16725.6 16719.6 16320.4 15989.6 16238.8 16277.2 27

(1) Sum of net capital transfers paid (line 2), net investment (line 3), net holding gains (line 16), and other volume changes (line 26).

(2) Shown on table F.104, line 36.

(3) Valued at current cost.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.104, line 36.
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146 Z.1, December 7, 2023

B.101.h Balance Sheet of Households (1)

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

2015 2016 2017 2018 2019 2020 2021 2022

 

 1 FL192000005 Assets 98290.8 103307.7 112055.2 113165.3 125612.2 140156.0 159771.6 153933.1 1

 2 LM192010005 Nonfinancial assets 28170.9 30039.7 32014.6 33858.8 35557.4 39010.2 45900.1 50240.4 2

 3 LM155035015 Real estate (2) 23180.3 24903.0 26746.9 28387.2 29887.5 32983.9 38902.0 42594.7 3

 4 LM155111005 Consumer durable goods (3) 4990.6 5136.7 5267.6 5471.6 5669.9 6026.2 6998.1 7645.6 4

 5 FL194090005 Financial assets 70119.8 73268.0 80040.7 79306.4 90054.8 101145.9 113871.5 103692.8 5

 6 FL193020005 Checkable deposits and currency 1053.9 973.2 1172.6 1001.5 980.3 2934.7 3865.7 4220.8 6

 7 FL193030205 Time deposits and short-term investments 7764.7 8467.3 8598.3 9033.3 9552.7 9998.6 10721.2 9906.2 7

 8 FL193034005 Money market fund shares 1649.0 1494.4 1566.0 1725.3 2159.2 2551.0 2655.4 2905.7 8

 9 LM194022005 Debt securities 3590.9 3278.0 3257.6 3876.2 4135.6 3624.9 2796.9 4109.5 9

10 LM193061005 U.S. government and municipal securities 3266.6 3278.0 3257.6 3865.5 4135.6 3584.1 2671.6 4109.5 10

11 LM193063005 Corporate and foreign bonds 324.4 0.0 0.0 10.7 0.0 40.8 125.3 0.0 11

12 FL194023005 Loans 871.5 857.1 807.9 769.1 799.4 926.1 1027.9 952.6 12

13 FL153067005 Other loans and advances (4) 773.6 764.9 718.5 685.6 718.5 846.8 942.6 876.3 13

14 FL193065005 Mortgages 97.9 92.3 89.3 83.5 80.9 79.3 85.3 76.3 14

15 LM193064005 Corporate equities and mutual fund shares 19332.2 20966.5 24896.8 22813.1 29221.0 34925.3 42301.3 33963.4 15

16 LM152090205 Equity in noncorporate business (6) 9833.4 10206.6 11006.1 11392.7 12188.7 13264.5 15659.3 16316.9 16

17 FL153040005 Life insurance reserves 1510.9 1568.1 1626.6 1659.1 1731.3 1867.0 1944.9 1933.3 17

18 FL153050005 Pension entitlements (5) 23431.2 24318.0 25915.9 25791.1 27999.7 29721.2 31489.0 27867.7 18

19 FL193090005 Miscellaneous assets 1082.1 1138.8 1193.0 1245.1 1286.9 1332.7 1410.1 1516.7 19

20 FL194190005 Liabilities 13639.2 14043.3 14585.6 15070.5 15529.1 16054.8 17630.8 18669.3 20

21 FL194123005 Loans 13607.6 14012.0 14552.6 15035.5 15492.6 16018.2 17592.7 18632.7 21

22 FL153165105 One-to-four-family residential mortgages (7) 9492.8 9658.8 9928.8 10204.4 10476.2 10862.4 11923.5 12693.1 22

23 FL153166000 Consumer credit 3400.2 3636.4 3830.8 4007.0 4192.2 4184.9 4548.5 4894.0 23

24 FL193168005 Depository institution loans n.e.c. 217.2 223.4 225.7 270.4 254.6 262.3 300.0 353.4 24

25 FL193169005 Other loans and advances 497.3 493.3 567.3 553.6 569.6 708.6 820.6 692.1 25

26 FL543077073 Deferred and unpaid life insurance premiums 31.6 31.3 33.1 35.0 36.5 36.6 38.1 36.6 26

27 FL192090005 Net worth 84651.6 89264.4 97469.6 98094.8 110083.1 124101.3 142140.8 135263.9 27

 Memo:

 Reconciliation with household and

 nonprofit organization sector net worth: (8)

28 FL152090005 Household and nonprofit net worth (B.101, line 40) 89961.0 94986.3 103735.4 104326.3 116903.6 131470.7 150439.3 143655.3 28

29 FL152000005 Household and nonprofit total assets (B.101, line 1) 104463.8 109916.7 119227.8 120300.3 133509.4 148649.8 169256.6 163579.6 29

30 FL192000005 Household total assets (B.101.h, line 1) 98290.8 103307.7 112055.2 113165.3 125612.2 140156.0 159771.6 153933.1 30

31 FL162000005 Nonprofit total assets (B.101.n, line 1) 7610.5 8158.3 8917.5 8819.1 9801.1 10525.9 11653.8 11966.0 31

32 FL163093005 Less: Nonprofit misc. assets (B.101.n, line 19) 1536.1 1654.9 1845.1 1778.8 2012.5 2137.8 2265.7 2411.0 32

33 FL153069803 Plus: Domestic hedge fund syndicated loans (9) 98.7 105.7 100.2 94.8 108.5 105.6 97.0 91.4 33

34 FL154190005 Less: Household and nonprofit liabilities (B.101, line 30) 14502.7 14930.4 15492.4 15974.0 16605.8 17179.2 18817.3 19924.3 34

35 FL194190005 Household liabilities (B.101.h, line 20) 13639.2 14043.3 14585.6 15070.5 15529.1 16054.8 17630.8 18669.3 35

36 FL164190005 Nonprofit liabilities (B.101.n, line 20) 1808.6 1833.3 1926.1 1912.6 2196.8 2349.9 2518.9 2701.8 36

37 FL163193005 Less: Nonprofit misc. liabilities (B.101.n, line 27) 945.0 946.2 1019.3 1009.1 1120.1 1225.5 1332.3 1446.8 37

(1) Table is based on table B.101 Balance Sheet of Households and Nonprofit Organizations, with adjustments to remove the assets and liabilities of nonprofit organizations, shown on table B.101.n.

(2) 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, at market value.

(3) At replacement (current) cost.

(4) Cash accounts at brokers and dealers.

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

(6) Net worth of nonfinancial noncorporate business (table B.104, line 36) and owners’ equity in unincorporated security brokers and dealers.

(7) Includes loans made under home equity lines of credit and home equity loans secured by junior liens (table L.218, line 23).

(8) Some financial asset and liability items shown on the supplemental balance sheet of nonprofit organizations (table B.101.n) are not included on the balance sheet of the household and nonprofit

 organization sector (table B.101). Therefore, some adjustments are necessary to reconcile the combined assets and liabilities of the household sector (table B.101.h) and nonprofit organization sector

 (table B.101.n) with the household and nonprofit organization sector’s (table B.101) in the core Financial Accounts.

(9) Syndicated loans included in household and nonprofit organizations’ other loans and advances (table B.101, line 20) but assumed to be held by domestic hedge funds.
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B.101.n Balance Sheet of Nonprofit Organizations (1)

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

2015 2016 2017 2018 2019 2020 2021 2022

 

 1 FL162000005 Total assets 7610.5 8158.3 8917.5 8819.1 9801.1 10525.9 11653.8 11966.0 1

 2 FL162010005 Nonfinancial assets 3382.2 3625.0 3868.8 3993.6 4315.1 4597.9 5331.1 5408.9 2

 3 FL165035005 Real estate (2) 2811.4 3017.5 3228.8 3314.2 3594.8 3832.0 4513.4 4528.2 3

 4 FL165015205 Equipment (3) 407.7 434.8 458.0 485.5 514.9 543.5 582.5 627.9 4

 5 FL165013765 Intellectual property products (3) 163.0 172.7 182.0 193.9 205.4 222.4 235.1 252.7 5

 6 FL164090005 Financial assets 4228.3 4533.3 5048.7 4825.4 5486.0 5928.0 6322.7 6557.1 6

 7 FL163020005 Cash and non-interest-bearing deposits 146.4 157.9 168.7 164.7 220.9 249.5 281.8 316.9 7

 8 FL163030205 Other deposits and short-term investments (4) 251.0 253.0 276.8 276.1 332.7 350.0 390.9 416.3 8

 9 FL163034003 Money market fund shares 74.6 85.8 87.0 96.7 114.1 140.9 148.3 174.0 9

10 LM164022005 Debt securities 282.4 295.5 320.9 350.0 393.6 431.5 462.5 483.4 10

11 LM163061005 U.S. government and municipal securities (5) 109.0 107.6 120.3 147.2 165.6 186.4 206.6 224.9 11

12 LM163063005 Corporate and foreign bonds 173.3 188.0 200.5 202.8 228.0 245.1 255.9 258.5 12

13 FL164023005 Loans 183.1 178.6 179.5 171.5 172.4 171.4 171.4 170.6 13

14 FL163065013 Mortgages 0.8 1.2 0.8 0.9 1.2 1.2 1.3 1.4 14

15 FL163066223 Consumer credit 44.9 41.3 35.2 31.3 27.3 24.1 22.0 18.7 15

16 FL163069005 Other loans and advances 137.4 136.1 143.5 139.3 143.9 146.1 148.0 150.5 16

17 LM163064005 Corporate equities and mutual fund shares 1513.8 1663.3 1910.4 1721.9 1968.0 2132.2 2302.7 2290.7 17

18 FL163070005 Grants and trade receivables 241.0 244.2 260.2 265.8 271.9 279.5 286.3 293.2 18

19 FL163090005 Miscellaneous assets 1536.1 1654.9 1845.1 1778.8 2012.5 2173.1 2278.9 2412.0 19

20 FL163072003 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 35.3 13.2 1.1 20

21 FL163093005 Other (6) 1536.1 1654.9 1845.1 1778.8 2012.5 2137.8 2265.7 2411.0 21

22 FL164190005 Liabilities 1808.6 1833.3 1926.1 1912.6 2196.8 2349.9 2518.9 2701.8 22

23 FL163162003 Debt securities (municipal securities) 220.1 216.9 218.0 216.0 213.5 203.8 202.6 201.7 23

24 FL164123005 Loans 302.2 320.8 332.8 324.7 451.5 481.0 513.1 549.3 24

25 FL163165505 Commercial mortgages 238.8 252.9 259.4 256.1 355.9 372.6 390.1 410.2 25

26 FL163168005 Depository institution loans n.e.c. 63.4 67.9 73.4 68.6 95.6 108.3 123.0 139.1 26

27 FL163169005 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FL163170005 Trade payables 341.3 349.5 355.9 362.9 411.7 439.6 470.9 504.0 28

29 FL163193005 Miscellaneous liabilities (7) 945.0 946.2 1019.3 1009.1 1120.1 1225.5 1332.3 1446.8 29

30 FL162090005 Net worth 5801.9 6325.0 6991.4 6906.5 7604.3 8176.1 9134.8 9264.2 30

 Memo:

31 FL164090015 Total financial assets of private foundations 786.2 840.7 948.0 930.0 994.5 1053.9 1108.9 1118.1 31

32 FL164090025 Total financial assets of 501(c) organizations 3442.1 3692.5 4100.8 3895.4 4491.5 4838.8 5200.6 5438.0 32

(1) Includes private foundations, including charitable trusts, and organizations that are tax-exempt under Sections 501(c)(3) through 501(c)(9) of the Internal Revenue Code. Does not include religious

 organizations or organizations with less than $25,000 in gross annual receipts. Most financial asset and liability information from annual tax data available with a lag; recent values estimated

 by staff.

(2) Residential and nonresidential real estate at market value.

(3) At replacement (current) cost.

(4) Includes interest-bearing checking and savings accounts, deposits in transit, commercial paper, certificates of deposit, and U.S. Treasury bills or other governmental obligations that mature

 in one year or less.

(5) Excludes the short-term debt securities included in line 16.

(6) Includes pledges receivable, receivables from officers and disqualified persons, prepaid expenses and deferred charges, other investments, and other financial assets. Not included on table B.101.

(7) Not included on table B.101.
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148 Z.1, December 7, 2023

B.101.e Balance Sheet of Households and Nonprofit Organizations with Debt and Equity Holdings Detail

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL152000005 Assets 169256.6 163579.6 171162.9 165688.1 162526.7 163579.6 166598.4 172427.8 171265.9 1

 2 FL152010005 Nonfinancial assets 51231.1 55649.3 55126.3 57602.1 56536.3 55649.3 55657.3 58347.5 58842.1 2

 3 FL154090005 Financial assets 118025.5 107930.3 116036.6 108086.0 105990.4 107930.3 110941.1 114080.2 112423.8 3

 4 FL154000025 Deposits (1) 18063.2 17939.8 18320.9 18261.7 18107.7 17939.8 17844.0 17778.4 17774.6 4

 5 LM154022375 Debt securities at market value 9442.0 9762.8 9113.9 8824.1 9072.9 9762.8 10334.6 10784.1 10715.1 5

 6 LM154022005 Directly held 3259.4 4592.9 3259.3 3421.3 3923.3 4592.9 5275.4 5381.3 5474.9 6

 7 LM154022075 Indirectly held 6182.6 5169.9 5854.6 5402.8 5149.7 5169.9 5059.1 5402.9 5240.2 7

 8 LM544022053 Life insurance companies 486.7 390.3 452.9 411.4 389.5 390.3 396.0 396.4 377.8 8

 9 LM574022075 Private pension funds (2) 1913.8 1718.0 1815.4 1717.5 1664.9 1718.0 1798.1 1822.7 1779.0 9

10 LM344022025 Federal govt. retirement funds (2) 322.7 322.5 347.4 349.4 344.2 322.5 53.3 325.6 323.6 10

11 LM223064223 State and local govt. retirement funds (2) 54.4 42.7 51.3 46.1 43.2 42.7 44.2 45.0 43.5 11

12 LM654022055 Mutual funds 3404.9 2696.4 3187.6 2878.4 2708.0 2696.4 2767.5 2813.1 2716.4 12

13 FL154023005 Loans 1296.2 1214.6 1398.5 1347.8 1280.4 1214.6 1185.2 1184.2 1117.6 13

14 LM153064475 Equity shares at market value 49125.6 39743.1 47041.6 39249.8 37497.6 39743.1 42120.8 44751.3 43061.0 14

15 LM153064105 Directly held 31782.0 26504.9 31044.2 26025.6 25158.5 26504.9 28142.4 29891.4 28852.3 15

16 LM153064175 Indirectly held 17343.6 13238.2 15997.4 13224.2 12339.1 13238.2 13978.3 14859.9 14208.7 16

17 LM543064153 Life insurance companies 1753.5 1374.9 1614.5 1354.3 1275.3 1374.9 1425.2 1485.4 1399.5 17

18 LM573064175 Private pension funds (2) 5974.3 4679.9 5570.9 4639.6 4359.0 4679.9 4972.0 5297.3 5077.0 18

19 LM343064125 Federal govt. retirement funds (2) 504.2 402.9 466.7 393.3 369.8 402.9 432.7 468.7 457.7 19

20 LM223064213 State and local govt. retirement funds (2) 143.4 105.7 132.1 107.7 99.4 105.7 112.3 119.9 114.7 20

21 LM653064155 Mutual funds 8968.3 6674.7 8213.2 6729.3 6235.6 6674.7 7036.2 7488.7 7159.7 21

22 FL153099475 Other (3) 40098.6 39270.1 40161.7 40402.5 40031.8 39270.1 39456.5 39582.2 39755.6 22

23 FL154190005 Liabilities 18817.3 19924.3 19017.7 19375.7 19702.9 19924.3 19958.7 20127.3 20277.2 23

24 FL152090005 Net worth 150439.3 143655.3 152145.3 146312.4 142823.8 143655.3 146639.6 152300.4 150988.7 24

 Memo:

 Debt securities (line 5) as a percent of

25 FL154022376 Total assets (line 1) 5.58 5.97 5.32 5.33 5.58 5.97 6.20 6.25 6.26 25

26 FL154022386 Financial assets (line 3) 8.00 9.05 7.85 8.16 8.56 9.05 9.32 9.45 9.53 26

 Equity shares (line 14) as a percent of

27 FL153064476 Total assets (line 1) 29.02 24.30 27.48 23.69 23.07 24.30 25.28 25.95 25.14 27

28 FL153064486 Financial assets (line 3) 41.62 36.82 40.54 36.31 35.38 36.82 37.97 39.23 38.30 28

(1) Includes foreign deposits, checkable deposits and currency, time and savings deposits, and money market fund shares.

(2) 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 22.

(3) Other (line 22) includes proprietor’s equity in noncorporate business, defined benefit plan pension entitlements, asset of defined contribution pension plans and mutual funds not included above.
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Z.1, December 7, 2023 149

B.101.f Balance Sheet of Domestic Hedge Funds (1)

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL622000623 Assets 2754.8 2561.0 2763.5 2669.2 2589.1 2561.0 2624.9 2611.9 ND 1

 2 FL625035003 Nonfinancial assets (real estate) 142.7 149.6 154.2 164.2 148.4 149.6 161.4 170.9 ND 2

 3 FL624090005 Financial assets 2612.1 2411.4 2609.3 2505.0 2440.7 2411.4 2463.5 2441.0 ND 3

 4 FL623091003 Foreign currency 23.5 24.3 23.8 24.4 21.9 24.3 23.8 27.1 ND 4

 5 FL623039003 Deposits 43.4 39.8 42.1 41.5 37.8 39.8 42.3 50.1 ND 5

 6 FL623039013 Other cash and cash equivalents 113.1 110.3 135.1 106.2 111.6 110.3 95.1 92.7 ND 6

 7 FL623034003 Money market fund shares 94.6 89.8 85.5 98.2 92.5 89.8 80.3 69.4 ND 7

 8 FL622051003 Security repurchase agreements 97.0 86.1 93.3 98.0 100.5 86.1 92.5 89.9 ND 8

 9 LM624022005 Debt securities 662.1 642.5 678.9 675.4 675.9 642.5 653.9 654.4 ND 9

10 LM623061103 Treasury securities 164.5 173.2 187.5 193.4 192.6 173.2 189.6 195.7 ND 10

11 LM623061703 Agency- and GSE-backed securities 8.5 5.8 8.5 10.6 10.8 5.8 11.9 14.2 ND 11

12 LM623062003 Municipal securities 15.4 12.7 14.0 13.3 12.9 12.7 12.3 12.7 ND 12

13 LM623063003 Corporate and foreign bonds 473.6 450.8 468.8 458.1 459.6 450.8 440.1 431.8 ND 13

14 FL623069005 Loans 180.7 211.6 188.7 202.0 207.2 211.6 217.6 228.9 ND 14

15 FL623069503 Leveraged loans 122.2 139.6 128.4 133.9 136.5 139.6 146.1 150.1 ND 15

16 FL623069003 Other loans 58.5 71.9 60.3 68.1 70.7 71.9 71.5 78.8 ND 16

17 LM623064103 Corporate equities 1140.6 936.5 1074.7 955.6 905.5 936.5 951.0 976.0 ND 17

18 LM623064203 Mutual fund shares 11.8 11.3 12.3 11.8 10.8 11.3 11.4 11.1 ND 18

19 FL623093005 Miscellaneous assets 245.2 259.4 274.9 292.1 276.9 259.4 295.6 241.3 ND 19

20 FL624190005 Liabilities 834.7 737.3 829.4 804.9 757.0 737.3 766.5 748.4 ND 20

21 FL622151005 Security repurchase agreements 70.1 60.7 64.7 69.4 64.4 60.7 75.0 69.2 ND 21

22 FL622151013 Domestic institutions 43.3 41.7 43.2 45.9 42.6 41.7 56.5 50.2 ND 22

23 FL622151063 Foreign institutions 26.8 19.0 21.5 23.5 21.8 19.0 18.5 19.0 ND 23

24 FL624123005 Loans 645.3 571.5 635.2 591.7 568.0 571.5 588.9 602.0 ND 24

25 FL624123035 Secured borrowing via prime brokerage 485.0 395.4 477.7 423.1 394.4 395.4 408.8 424.6 ND 25

26 FL623167003 From domestic institutions 423.8 345.6 421.4 374.7 348.4 345.6 358.6 374.1 ND 26

27 FL623169533 From foreign institutions 61.2 49.8 56.3 48.4 46.0 49.8 50.3 50.4 ND 27

28 FL624123015 Other secured borrowing 138.6 155.5 139.1 149.8 153.0 155.5 160.2 157.9 ND 28

29 FL623168013 From domestic institutions 104.6 125.5 106.1 117.4 121.8 125.5 128.5 123.4 ND 29

30 FL623169513 From foreign institutions 34.0 30.0 33.0 32.4 31.2 30.0 31.7 34.5 ND 30

31 FL623168023 Unsecured borrowing 21.7 20.6 18.4 18.7 20.6 20.6 19.9 19.6 ND 31

32 FL623193005 Miscellaneous liabilities 119.3 105.1 129.4 143.9 124.6 105.1 102.6 77.2 ND 32

 Memo:

33 FL622000003 Total net assets 1920.0 1823.8 1934.1 1864.3 1832.1 1823.8 1858.3 1863.5 ND 33

34 FL623098003 Derivatives (2) 1097.5 931.1 1094.7 1045.3 1043.5 931.1 988.2 1013.5 ND 34

(1) Data begin 2012:Q4. Includes only hedge funds domiciled in the United States as reported on SEC forms ADV and PF.

(2) Long exposure of derivatives.
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F.4.g Gross Fixed Investment (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA885019005 Gross fixed investment (by type) 5031.4 5476.1 5366.0 5477.4 5524.6 5536.4 5643.9 5736.1 5813.3 1

 2 FA885019065 Structures 2097.9 2233.2 2231.8 2257.4 2234.5 2209.0 2269.0 2312.6 2366.7 2

 3 FA885019025 Equipment 1332.6 1455.9 1407.6 1447.3 1477.9 1490.7 1499.7 1528.5 1528.7 3

 4 FA885013075 Intellectual Property Products 1555.6 1726.4 1665.9 1712.1 1751.6 1776.1 1814.7 1834.4 1857.3 4

 5 FA885013035 Software 628.2 702.4 677.4 693.5 715.2 723.6 742.5 743.8 753.1 5

 6 FA885013045 Research and development 837.1 919.8 891.0 914.9 928.7 944.8 962.2 978.2 991.7 6

 7 FA835013051 Entertainment, literary, and artistic originals 90.3 104.1 97.4 103.7 107.7 107.7 109.9 112.4 112.6 7

 8 FA105013893 Miscellaneous adjustments (2) 45.3 60.6 60.6 60.6 60.6 60.6 60.6 60.6 60.6 8

 9 FA885019005 Gross fixed investment (by sector) 5031.4 5476.1 5366.0 5477.4 5524.6 5536.4 5643.9 5736.1 5813.3 9

10 FA155019005 Households and nonprofit organizations 1192.4 1245.8 1301.8 1279.7 1228.3 1173.4 1172.2 1170.8 1190.3 10

11 FA105019085 Nonfinancial corporate business 2215.1 2483.2 2365.7 2468.0 2533.7 2565.5 2633.2 2673.9 2699.0 11

12 FA115019085 Nonfinancial noncorporate business 490.0 533.2 526.8 538.1 537.6 530.1 537.9 547.0 552.2 12

13 FA315019001 Federal government 378.0 406.5 395.4 402.8 404.0 423.9 427.7 437.2 445.5 13

14 FA215019001 State and local governments 448.8 470.2 452.8 455.7 478.4 494.1 514.2 537.2 556.5 14

15 FA795013005 Domestic financial sectors (3) 307.1 337.2 323.5 333.0 342.7 349.4 358.8 370.1 369.8 15

16 FA715013005 Monetary authority 1.1 1.2 1.2 1.2 1.2 1.3 1.3 1.3 1.3 16

17 FA705013005 Private depository institutions 79.8 89.6 85.0 87.8 90.6 94.9 98.7 107.1 105.2 17

18 FA765013005 U.S.-chartered depository institutions 61.8 68.5 64.7 67.0 69.1 73.3 76.4 84.6 82.5 18

19 FA755013005 Foreign banking offices in U.S. 8.7 10.2 9.8 10.1 10.4 10.5 10.8 10.9 11.0 19

20 FA745013005 Banks in U.S.-affiliated areas 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 20

21 FA475013005 Credit unions 9.1 10.6 10.2 10.5 10.8 10.9 11.2 11.4 11.4 21

22 FA515013005 Property-casualty insurance companies 37.9 42.2 40.6 41.7 43.0 43.4 44.5 44.9 45.3 22

23 FA545013005 Life insurance companies 33.9 38.1 36.8 37.8 38.8 39.2 40.1 40.5 40.8 23

24 FA575013005 Private pension funds 2.0 2.2 2.2 2.2 2.3 2.3 2.4 2.4 2.4 24

25 FA225013005 State and local government employee retirement funds 2.4 2.7 2.6 2.6 2.7 2.8 2.9 2.9 2.9 25

26 FA405013005 Government-sponsored enterprises 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.6 26

27 FA675013025 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FA615013005 Finance companies 63.3 64.5 62.1 64.1 65.8 66.0 66.8 67.8 67.8 28

29 FA665013005 Security brokers and dealers 50.0 56.0 53.9 55.4 57.0 57.6 59.1 59.6 60.1 29

30 FA735013005 Holding companies 36.2 40.2 38.7 39.7 40.9 41.4 42.6 43.1 43.4 30

 Memo:

31 FA155111003 Consumer durable goods (4) 1844.8 1957.9 1950.4 1952.4 1971.0 1958.0 2018.6 2017.4 2028.0 31

32 FA145020005 Inventories (5) 11.7 157.3 249.0 120.2 82.3 177.7 23.7 18.6 110.7 32

(1) Private gross fixed investment is from BEA, NIPA table 5.2.5. Structures is from BEA, NIPA table 5.4.5. Equipment is from BEA, NIPA table 5.5.5. Intellectual Property Products

 is from BEA, NIPA table 5.6.5. Government gross fixed investment is from BEA, NIPA table 3.9.5.

(2) Calculated as the difference between gross fixed investment in BEA’s NIPA and gross fixed investment in BEA’s fixed assets accounts (FAA); the latter are used to estimate

 stocks of fixed assets for balance sheets. For the minor definitional differences between the two estimates of gross fixed investment, see the

 BEA FAA web page https://apps.bea.gov/iTable/index_FA.cfm.

(3) Domestic financial subsector detail are based on FRB staff estimates.

(4) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, however, consumer durables are included in household

 sector fixed investment (table F.101, line 14).

(5) Inventories are not included above but are part of nonfinancial business gross investment (table F.4, lines 25 and 26).
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F.4.c Consumption of Fixed Capital

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA886300095 Consumption of fixed capital (by type) 3873.3 4299.9 4140.9 4260.2 4368.2 4430.3 4507.4 4557.0 4612.3 1

 2 FA886300065 Structures 1378.8 1578.1 1517.0 1562.9 1604.1 1628.3 1656.9 1674.4 1694.0 2

 3 FA886300025 Equipment 1231.1 1339.3 1290.6 1327.1 1360.4 1379.3 1403.2 1419.1 1436.7 3

 4 FA886330075 Intellectual Property Products 1262.8 1382.4 1333.3 1370.2 1403.5 1422.6 1447.2 1463.4 1481.5 4

 5 FA886330035 Software 520.1 575.8 554.7 570.5 584.9 593.1 603.4 610.2 617.7 5

 6 FA886330045 Research and development 655.7 712.9 688.4 706.9 723.4 733.0 745.5 753.8 763.2 6

 7 FA836330053 Entertainment, literary, and artistic originals 87.0 93.7 90.2 92.8 95.2 96.6 98.3 99.4 100.7 7

 8 FA366300095 Miscellaneous government adjustements (1) 0.6 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 8

 9 FA886300095 Consumption of fixed capital (by sector) 3873.3 4299.9 4140.9 4260.2 4368.2 4430.3 4507.4 4557.0 4612.3 9

10 FA156300003 Households and nonprofit organizations 722.0 821.0 790.2 815.1 835.7 843.1 843.1 848.3 862.4 10

11 FA106300075 Nonfinancial corporate business 1818.3 2004.7 1929.2 1983.1 2036.0 2070.3 2121.6 2153.1 2177.8 11

12 FA116300001 Nonfinancial noncorporate business 398.4 445.2 429.3 441.9 452.0 457.8 463.0 467.0 472.4 12

13 FA316300001 Federal government 326.0 350.8 341.1 348.7 354.4 359.0 364.3 368.0 372.5 13

14 FA216300001 State and local governments 333.0 371.5 356.8 368.7 377.4 383.1 389.7 391.7 394.4 14

15 FA796330005 Domestic financial sectors (2) 275.7 306.6 294.1 302.6 312.7 317.1 325.6 328.9 332.8 15

16 FA716330005 Monetary authority 1.0 1.1 1.0 1.1 1.1 1.1 1.2 1.2 1.2 16

17 FA706330005 Private depository institutions 68.3 76.3 72.9 74.9 78.3 79.2 81.6 82.4 83.3 17

18 FA766330005 U.S.-chartered depository institutions 52.5 58.0 55.3 56.8 59.6 60.3 62.2 62.8 63.5 18

19 FA756330005 Foreign banking offices in U.S. 7.6 8.9 8.5 8.8 9.0 9.2 9.4 9.5 9.6 19

20 FA746330005 Banks in U.S.-affiliated areas 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 20

21 FA476330005 Credit unions 8.0 9.3 8.9 9.1 9.4 9.6 9.8 9.9 10.0 21

22 FA516330005 Property-casualty insurance companies 30.6 34.6 33.2 34.2 35.2 35.7 36.6 37.0 37.4 22

23 FA546330005 Life insurance companies 25.3 29.0 27.9 28.7 29.6 30.0 30.8 31.1 31.5 23

24 FA576330005 Private pension funds 0.5 1.1 1.0 1.1 1.1 1.1 1.1 1.2 1.2 24

25 FA226330005 State and local government employee retirement funds 0.7 1.3 1.2 1.2 1.3 1.3 1.3 1.3 1.4 25

26 FA406330005 Government-sponsored enterprises 0.6 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.7 26

27 FA676330023 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FA616330005 Finance companies 74.6 78.5 75.4 77.6 79.9 81.1 83.2 84.1 85.0 28

29 FA666330005 Security brokers and dealers 36.9 43.2 41.5 42.7 44.0 44.6 45.8 46.2 46.8 29

30 FA736330005 Holding companies 37.4 40.9 39.3 40.5 41.6 42.2 43.4 43.8 44.3 30

 Memo:

31 FA156300103 Consumer durable goods (3) 1365.8 1559.4 1493.8 1550.7 1579.4 1613.5 1618.6 1637.6 1659.5 31

(1) Calculated as the difference between consumption of fixed capital in BEA’s NIPA and consumption of fixed capital in BEA’s fixed assets accounts (FAA); the latter are used to estimate.

(2) Domestic financial subsector detail are based on FRB staff estimates.

(3) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household

 sector capital expenditures.
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F.4.f Net Fixed Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA885015005 Net fixed investment (by type) 1158.0 1176.2 1225.1 1217.2 1156.5 1106.1 1136.5 1179.1 1201.0 1

 2 FA885019665 Structures 719.1 655.1 714.9 694.5 630.4 580.7 612.1 638.2 672.7 2

 3 FA885019265 Equipment 101.4 116.6 117.1 120.2 117.5 111.4 96.4 109.4 92.0 3

 4 FA885013765 Intellectual Property Products 292.8 344.0 332.6 341.9 348.0 353.5 367.5 371.0 375.8 4

 5 FA885013365 Software 108.0 126.7 122.8 123.0 130.4 130.5 139.1 133.6 135.4 5

 6 FA885013465 Research and development 181.3 206.9 202.6 208.0 205.2 211.8 216.7 224.4 228.5 6

 7 FA835013565 Entertainment, literary, and artistic originals 3.4 10.4 7.3 10.9 12.5 11.1 11.6 12.9 11.9 7

 8 FA105013893 Miscellaneous adjustments (1) 45.3 60.6 60.6 60.6 60.6 60.6 60.6 60.6 60.6 8

 9 FA365015095 Miscellaneous government adjustements (2) -0.6 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 9

10 FA885015005 Net fixed investment (by sector) 1158.0 1176.2 1225.1 1217.2 1156.5 1106.1 1136.5 1179.1 1201.0 10

11 FA155015005 Households and nonprofit organizations 470.4 424.8 511.6 464.6 392.6 330.3 329.0 322.5 327.9 11

12 FA105015085 Nonfinancial corporate business 396.8 478.5 436.5 484.9 497.7 495.2 511.6 520.8 521.2 12

13 FA115015005 Nonfinancial noncorporate business 91.6 87.9 97.5 96.2 85.6 72.3 75.0 79.9 79.8 13

14 FA315015005 Federal government 51.9 55.7 54.3 54.1 49.6 64.9 63.3 69.1 73.0 14

15 FA215015005 State and local governments 115.9 98.7 96.0 87.0 101.0 111.0 124.4 145.5 162.1 15

16 FA795015085 Domestic financial sectors (3) 31.4 30.5 29.4 30.4 30.0 32.4 33.2 41.2 37.0 16

17 FA715013865 Monetary authority 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 17

18 FA705013865 Private depository institutions 11.5 13.2 12.1 12.9 12.3 15.7 17.0 24.7 21.8 18

19 FA765013865 U.S.-chartered depository institutions 9.3 10.5 9.4 10.2 9.5 12.9 14.2 21.8 19.0 19

20 FA755013865 Foreign banking offices in U.S. 1.1 1.3 1.3 1.3 1.3 1.3 1.4 1.4 1.4 20

21 FA745013865 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA475013865 Credit unions 1.1 1.4 1.3 1.4 1.4 1.4 1.4 1.5 1.4 22

23 FA515013865 Property-casualty insurance companies 7.4 7.6 7.4 7.5 7.8 7.7 7.9 7.9 7.8 23

24 FA545013865 Life insurance companies 8.6 9.1 8.9 9.1 9.2 9.2 9.3 9.4 9.4 24

25 FA575013865 Private pension funds 1.4 1.2 1.1 1.1 1.2 1.2 1.2 1.2 1.2 25

26 FA225013865 State and local government employee retirement funds 1.7 1.4 1.4 1.4 1.4 1.5 1.5 1.6 1.6 26

27 FA405013865 Government-sponsored enterprises -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 27

28 FA675013263 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 FA615013865 Finance companies -11.3 -14.0 -13.3 -13.6 -14.2 -15.1 -16.4 -16.2 -17.3 29

30 FA665013865 Security brokers and dealers 13.1 12.8 12.4 12.7 13.0 13.0 13.3 13.4 13.4 30

31 FA735013865 Holding companies -1.1 -0.7 -0.6 -0.7 -0.7 -0.8 -0.8 -0.7 -0.9 31

 Memo:

32 FA155111005 Consumer durable goods (4) 479.0 398.6 456.6 401.7 391.6 344.5 400.0 379.8 368.5 32

(1) Included in nonfinancial corporate business sector gross fixed investment, line 11.

(2) Calculated as the difference between net fixed investment in BEA’s NIPA and net fixed investment in BEA’s fixed assets accounts (FAA); the latter are used to estimate.

(3) Domestic financial subsector detail are based on FRB staff estimates.

(4) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household sector

 capital expenditures.
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L.4.s Net Stocks of Fixed Assets, current cost

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

2021 2022 2022 2023

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL885019865 Net stocks (by type) 77441.2 85943.2 80121.0 82843.3 84768.0 85943.2 86754.7 87008.9 87677.1 1

 2 FL885019665 Structures 62437.6 69726.7 64773.4 67147.3 68814.6 69726.7 70194.0 70321.7 70791.2 2

 3 FL885019265 Equipment 9303.9 9984.3 9509.1 9712.1 9840.5 9984.3 10158.3 10137.5 10191.0 3

 4 FL885013765 Intellectual Property Products 5699.7 6232.2 5838.5 5984.0 6112.8 6232.2 6402.4 6549.7 6694.9 4

 5 FL885013365 Software 1078.1 1214.6 1110.0 1152.2 1196.5 1214.6 1271.6 1301.7 1339.2 5

 6 FL885013465 Research and development 4023.5 4376.8 4119.5 4207.0 4282.9 4376.8 4477.8 4582.9 4691.1 6

 7 FL835013565 Entertainment, literary, and artistic originals 598.0 640.8 609.0 624.8 633.5 640.8 653.0 665.1 664.6 7

 8 FL885019865 Net stocks (by sector) 77441.2 85943.2 80121.0 82843.3 84768.0 85943.2 86754.7 87008.9 87677.1 8

 9 FL155015015 Households and nonprofit organizations 27299.3 30694.5 28503.3 29608.2 30282.5 30694.5 30673.2 30719.5 31148.8 9

10 FL105015085 Nonfinancial corporate business 20919.4 23086.2 21487.2 22129.1 22726.3 23086.2 23585.8 23748.6 23859.1 10

11 FL115015005 Nonfinancial noncorporate business 8822.6 9796.3 9149.2 9463.4 9675.1 9796.3 9780.7 9720.2 9722.6 11

12 FL315015005 Federal government 4098.2 4412.6 4196.3 4300.9 4356.4 4412.6 4476.3 4514.0 4555.6 12

13 FL215015005 State and local governments 14063.2 15427.1 14472.5 14945.8 15250.6 15427.1 15662.3 15723.6 15805.0 13

14 FL795013865 Domestic financial sectors (1) 2238.4 2526.4 2312.6 2396.0 2477.0 2526.4 2576.5 2583.0 2585.9 14

15 FL715013865 Monetary authority 12.8 14.7 13.3 13.8 14.4 14.7 15.0 15.1 15.0 15

16 FL705013865 Private depository institutions 599.3 688.5 621.9 647.5 672.9 688.5 703.4 706.8 708.2 16

17 FL765013865 U.S.-chartered depository institutions 440.5 497.7 455.0 471.7 488.3 497.7 508.7 511.3 512.5 17

18 FL755013865 Foreign banking offices in U.S. 76.8 92.4 80.7 85.1 89.4 92.4 94.4 94.7 94.8 18

19 FL745013865 Banks in U.S.-affiliated areas 1.9 2.0 1.9 1.9 2.0 2.0 2.1 2.1 2.1 19

20 FL475013865 Credit unions 80.2 96.3 84.3 88.7 93.2 96.3 98.3 98.7 98.8 20

21 FL515013865 Property-casualty insurance companies 205.8 237.2 213.7 222.7 231.7 237.2 242.9 244.6 245.8 21

22 FL545013865 Life insurance companies 178.7 207.5 185.9 194.0 202.0 207.5 213.0 215.6 217.7 22

23 FL575013865 Private pension funds 3.5 4.7 3.8 4.1 4.4 4.7 5.0 5.3 5.6 23

24 FL225013865 State and local government employee retirement funds 9.2 12.2 9.9 10.7 11.6 12.2 12.8 13.2 13.5 24

25 FL405013865 Government-sponsored enterprises 3.8 4.4 4.0 4.1 4.3 4.4 4.4 4.4 4.3 25

26 FL675013263 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 FL615013865 Finance companies 514.8 542.5 523.2 532.0 538.2 542.5 548.5 543.5 541.1 27

28 FL665013865 Security brokers and dealers 257.0 297.7 267.2 278.8 290.4 297.7 305.7 308.8 311.3 28

29 FL735013865 Holding companies 453.6 517.2 469.8 488.3 507.1 517.2 525.7 525.8 523.4 29

 Memo:

30 FL155111005 Consumer durable goods (2) 6998.1 7645.6 7271.1 7410.7 7576.3 7645.6 7735.3 7839.0 7850.3 30

31 FL145020005 Inventories (3) 3445.9 3800.6 3659.1 3826.8 3809.1 3800.6 3789.0 3752.8 3800.3 31

(1) Domestic financial subsector detail are based on FRB staff estimates.

(2) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household sector fixed investment

 (table B.101, line 8).

(3) Not included above.
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S.1.a Total Economy - Current Account

Billions of dollars

2015 2016 2017 2018 2019 2020 2021 2022

 

 1 FA896902505 Gross value added 18388.0 18752.0 19544.2 20593.1 21479.0 21264.7 23599.5 25796.4 1

 (income approach)

 2 FA886300091 Less: Consumption of fixed capital 2922.9 3008.1 3149.0 3312.6 3479.8 3625.5 3873.3 4299.9 2

 3 FA896902601 Equals: Net value added 15465.1 15743.9 16395.2 17280.5 17999.1 17639.2 19726.2 21496.5 3

 4 FA896025001 Compensation of employees (paid) 9709.5 9977.1 10435.0 10967.7 11459.8 11602.3 12556.6 13455.2 4

 5 FA896020001 Wages and salaries 7869.6 8102.2 8485.0 8910.1 9336.8 9472.3 10323.4 11132.1 5

 6 FA896401001 Employers’ social contributions 1839.9 1874.9 1950.0 2057.6 2123.0 2130.0 2233.2 2323.2 6

 7 FA896240101 Taxes on production and imports less subsidies 1216.3 1247.4 1304.1 1393.8 1460.2 863.7 1189.2 1682.8 7

 8 FA896402101 Operating surplus, net 4539.3 4519.4 4656.2 4919.0 5079.2 5173.2 5980.4 6358.5 8

 9 FA266904095 Plus: Income receipts from the rest of the world 860.6 892.9 1031.1 1138.7 1174.7 993.0 1112.1 1252.6 9

10 FA266904195 Less: Income payments to the rest of the world 640.5 661.5 738.2 848.4 892.8 778.1 928.6 1070.7 10

11 FA896140001 Equals: Net national income/Balance of primary incomes, net 15685.2 15975.3 16688.2 17570.8 18281.0 17854.0 19909.7 21678.4 11

12 FA896402101 Operating surplus, net 4539.3 4519.4 4656.2 4919.0 5079.2 5173.2 5980.4 6358.5 12

13 FA156025105 Compensation of employees (received) 9699.4 9966.1 10424.4 10957.4 11447.9 11594.7 12545.9 13439.2 13

14 FA156020101 Wages and salaries 7859.5 8091.2 8474.4 8899.8 9325.0 9464.6 10312.6 11116.0 14

15 FA156401101 Employers’ social contributions 1839.9 1874.9 1950.0 2057.6 2123.0 2130.0 2233.2 2323.2 15

16 FA896240001 Taxes on production and imports, receivable 1273.5 1309.1 1364.0 1457.1 1533.1 1520.5 1671.9 1810.2 16

17 FA366402015 Subsidies paid -57.2 -61.7 -59.9 -63.3 -73.0 -656.9 -482.7 -127.4 17

18 FA896150105 Property income (received) 6739.2 6850.4 7420.9 8286.7 8454.2 7772.9 8051.2 8772.5 18

19 FA896130101 Interest 3200.8 3332.4 3582.9 3947.2 4208.3 3569.5 3322.8 3838.3 19

20 FA896120105 Distributed income of corporations 3202.6 3189.7 3437.6 4581.6 4048.1 3978.3 4385.6 4543.2 20

21 FA896121101 Dividends 1717.2 1709.3 1882.3 2948.1 2355.8 2241.7 2456.9 2551.3 21

22 FA156122101 Withdrawals from income of quasi-corporations 1485.4 1480.4 1555.3 1633.5 1692.3 1736.6 1928.7 1991.9 22

23 FA893092201 Reinvested earnings on U.S. direct investment abroad 318.0 312.7 383.7 -261.4 177.9 208.9 322.0 361.9 23

24 FA896112101 Rents on land and natural resources 17.8 15.6 16.8 19.4 19.9 16.3 20.8 29.2 24

25 FA896150005 Less: Uses of property income (paid) 6509.0 6608.1 7117.3 7986.1 8160.5 7550.5 7856.9 8574.6 25

26 FA896130001 Interest 3365.8 3510.0 3778.2 4167.2 4447.6 3795.3 3562.2 4113.2 26

27 FA896120005 Distributed income of corporations 3039.8 3004.0 3227.2 3680.6 3569.0 3653.4 4050.7 4208.5 27

28 FA896121001 Dividends 1554.4 1523.6 1671.9 2047.1 1876.8 1916.8 2122.0 2216.6 28

29 FA896122001 Withdrawals from income of quasi-corporations 1485.4 1480.4 1555.3 1633.5 1692.3 1736.6 1928.7 1991.9 29

30 FA893192201 Reinvested earnings on foreign direct investment 85.6 78.5 95.1 118.9 123.9 85.5 223.2 223.7 30

31 FA896112001 Rents on land and natural resources 17.8 15.6 16.8 19.4 19.9 16.3 20.8 29.2 31

32 FA896140001 Net national income/Balance of primary incomes, net 15685.2 15975.3 16688.2 17570.8 18281.0 17854.0 19909.7 21678.4 32

33 FA896220001 Plus: Current taxes on income, wealth, etc. (received) 2348.2 2347.9 2358.5 2385.0 2509.7 2578.8 3165.2 3699.6 33

34 FA896220005 Less: Current taxes on income, wealth, etc. (paid) 2337.0 2334.8 2346.0 2371.6 2496.7 2564.0 3147.9 3680.7 34

35 FA896404105 Plus: Social benefits (received) 3845.2 3961.6 4111.6 4293.0 4518.5 5637.3 6117.5 5610.4 35

36 FA896404005 Less: Social contributions (paid) 3860.3 3977.1 4128.2 4310.4 4537.1 5666.0 6144.7 5633.4 36

37 FA896403105 Plus: Other current transfers (received) 798.2 823.5 817.1 857.1 881.6 1135.1 1425.1 1303.8 37

38 FA896403005 Less: Other current transfers (paid) 913.1 950.6 940.6 991.5 1027.8 1279.3 1588.3 1496.3 38

39 FA896012005 Equals: Disposable income, net 15566.3 15845.8 16560.6 17432.4 18129.2 17695.9 19736.6 21481.8 39

40 FA896901001 Less: Final consumption expenditures 14901.4 15380.2 16006.3 16794.2 17432.5 17384.5 19409.2 21081.8 40

41 FA896006001 Equals: Net saving 664.9 465.6 554.2 638.2 696.7 311.3 327.4 400.0 41

 Addendum:

42 FA896902505 Gross value added (line 1) 18388.0 18752.0 19544.2 20593.1 21479.0 21264.7 23599.5 25796.4 42

43 FA087005995 Plus statistical discrepancy (NIPA) -93.0 52.9 67.9 63.4 42.4 58.2 -5.5 -52.3 43

44 FA086902005 Equals: GDP (NIPA, expenditure approach) 18295.0 18804.9 19612.1 20656.5 21521.4 21323.0 23594.0 25744.1 44

45 FA086902203 Average of GDP and GDI 18341.5 18778.5 19578.2 20624.8 21500.2 21293.8 23596.8 25770.3 45

46 FA087005086 Statistical discrepancy as a percentage of GDP -0.51 0.28 0.35 0.31 0.20 0.27 -0.02 -0.20 46
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

2015 2016 2017 2018 2019 2020 2021 2022

 

 1 FA896902505 Gross value added 18388.0 18752.0 19544.2 20593.1 21479.0 21264.7 23599.5 25796.4 1

 2 FA156902505 Households and nonprofit institutions serving households 2251.0 2334.3 2423.2 2539.1 2655.9 2778.3 2916.0 3165.8 2

 3 FA116902505 Nonfinancial noncorporate business 3228.9 3241.3 3411.9 3614.2 3765.2 3572.9 4029.0 4467.9 3

 4 FA106902501 Nonfinancial corporate business 9222.3 9346.4 9771.4 10337.8 10801.0 10500.0 11995.9 13300.8 4

 5 FA796902505 Financial business 1317.2 1412.2 1456.5 1516.4 1596.9 1656.7 1800.7 1865.5 5

 6 FA316902505 Federal government 740.5 754.1 772.8 803.1 825.5 865.8 907.2 951.4 6

 7 FA216902505 State and local government 1628.0 1663.7 1708.3 1782.5 1834.5 1891.0 1950.8 2045.1 7

 8 FA896006001 Net saving 664.9 465.6 554.2 638.2 696.7 311.3 327.4 400.0 8

 9 FA156006005 Households and nonprofit institutions serving households 790.6 746.2 841.6 996.7 1190.9 2678.6 2120.5 622.8 9

10 FA106012095 Nonfinancial corporate business 542.8 464.7 527.0 560.3 577.9 525.8 638.6 674.2 10

11 FA796012095 Financial business 105.5 164.2 147.3 187.5 178.1 53.3 64.8 104.9 11

12 FA316006085 Federal government -557.4 -667.3 -736.8 -906.4 -1044.4 -2894.4 -2739.9 -1062.2 12

13 FA216006095 State and local government -216.6 -242.2 -224.8 -199.9 -205.9 -51.9 243.4 60.4 13

 Net capital transfers

14 FA155440005 Households and nonprofit institutions serving households 21.4 14.6 -15.2 9.4 15.1 3.0 -42.4 2.7 14

15 FA115440005 Nonfinancial noncorporate business 0.0 0.0 -9.4 -3.0 0.0 0.0 -5.2 -10.1 15

16 FA105440005 Nonfinancial corporate business -3.2 2.6 200.8 -6.2 -12.4 13.6 -9.8 30.3 16

17 FA795440005 Financial business 0.0 1.8 76.6 16.9 0.0 0.0 22.7 28.2 17

18 FA315440005 Federal government 59.9 60.5 -164.5 60.6 79.0 73.4 121.2 183.8 18

19 FA215440005 State and local government -69.8 -72.5 -72.4 -73.1 -74.8 -83.8 -82.9 -229.8 19

20 FA265440005 Rest of the world -8.4 -7.0 -16.0 -4.6 -6.8 -6.3 -3.5 -5.1 20

21 FA885019005 Gross fixed capital formation 3777.8 3888.9 4116.4 4399.0 4595.2 4602.4 5031.4 5476.1 21

22 FA155019005 Households and nonprofit institutions serving households 734.3 803.5 856.8 909.8 935.6 1004.7 1192.4 1245.8 22

23 FA115019085 Nonfinancial noncorporate business 383.5 364.8 410.9 411.7 456.9 448.1 490.0 533.2 23

24 FA105019085 Nonfinancial corporate business 1801.9 1826.8 1919.8 2080.2 2126.3 2047.6 2215.1 2483.2 24

25 FA795013005 Financial business (nonresidential) 228.7 244.1 247.5 266.7 301.4 285.4 307.1 337.2 25

26 FA315019001 Federal government 271.0 275.0 287.6 311.9 332.5 364.8 378.0 406.5 26

27 FA215019001 State and local government 358.4 374.6 393.9 418.8 442.5 451.7 448.8 470.2 27

28 FA886300095 Consumption of fixed capital 2922.9 3008.1 3149.0 3312.6 3479.8 3625.5 3873.3 4299.9 28

29 FA156300003 Households and nonprofit institutions serving households 491.6 517.6 548.6 586.5 614.7 647.5 722.0 821.0 29

30 FA116300001 Nonfinancial noncorporate business 305.6 313.8 326.6 342.6 357.9 372.1 398.4 445.2 30

31 FA106300003 Nonfinancial corporate business 1408.3 1441.0 1509.4 1582.1 1666.2 1730.2 1818.3 2004.7 31

32 FA796330081 Financial business (nonresidential) 192.4 203.2 214.4 226.1 243.0 257.9 275.7 306.6 32

33 FA316300001 Federal government 272.4 273.7 280.2 290.2 299.2 309.4 326.0 350.8 33

34 FA216300001 State and local government 252.6 258.8 269.7 285.2 298.9 308.4 333.0 371.5 34

35 FA145020005 Change in inventories 140.1 39.1 32.7 56.4 72.2 -37.6 11.7 157.3 35

36 FA115020005 Nonfinancial noncorporate business 20.5 2.5 1.3 3.4 0.3 -12.0 1.0 13.7 36

37 FA105020005 Nonfinancial corporate business 119.6 36.6 31.3 53.0 71.9 -25.6 10.7 143.6 37

38 FA885000985 Net lending (+) or net borrowing (-) (capital account) -338.4 -461.3 -461.9 -509.3 -497.8 -634.0 -846.0 -938.8 38

39 FA155000905 Households and nonprofit institutions serving households 536.8 456.9 560.9 677.7 869.1 2332.8 1707.4 210.9 39

40 FA115000905 Nonfinancial noncorporate business -98.4 -53.5 -76.3 -69.5 -99.2 -64.1 -87.4 -91.5 40

41 FA105000905 Nonfinancial corporate business 3.4 32.4 -115.8 16.5 59.1 220.6 235.1 -83.0 41

42 FA795000995 Financial business 69.3 121.5 37.6 130.0 119.7 25.8 10.7 46.1 42

43 FA315000995 Federal government -585.1 -720.3 -577.4 -987.2 -1154.7 -3020.4 -2904.0 -1193.6 43

44 FA215000995 State and local government -264.4 -298.3 -290.9 -276.8 -291.7 -128.8 192.2 172.3 44

 Addendum:

45 FA087005995 Statistical discrepancy (NIPA) -93.0 52.9 67.9 63.4 42.4 58.2 -5.5 -52.3 45

46 FA265000905 Rest of the world 431.4 408.4 394.0 445.8 455.3 575.8 851.5 991.1 46

47 FA885000005 Net lending (+) or net borrowing (-) (financial account) 218.5 -518.3 362.4 -364.8 600.5 -374.7 -502.3 220.8 47

48 FA155000005 Households and nonprofit institutions serving households 1198.5 395.6 920.8 918.6 1860.0 2922.2 1581.4 702.8 48

49 FA115000005 Nonfinancial noncorporate business -98.4 -53.5 -76.3 -69.5 -99.2 -64.1 -87.4 -91.5 49

50 FA105000005 Nonfinancial corporate business -243.7 -218.0 204.5 -149.6 164.5 50.9 63.4 313.8 50

51 FA795000005 Financial business 43.8 194.3 -2.0 68.9 72.7 70.8 420.2 423.5 51

52 FA315000005 Federal government -528.9 -687.4 -519.9 -969.9 -1113.6 -3296.3 -2688.7 -1269.1 52

53 FA215000005 State and local government -152.9 -149.3 -164.8 -163.2 -284.0 -58.3 208.9 141.4 53

 Addendum:

54 FA265000005 Rest of the world 418.4 310.8 375.3 241.6 361.4 453.1 572.7 480.0 54

 Total other volume changes

55 FV158090185 Households and nonprofit institutions serving households 980.8 268.0 650.3 460.8 1889.2 1041.5 -118.9 -835.2 55

56 FV118090105 Nonfinancial noncorporate business 0.0 0.0 -0.0 0.0 -0.0 0.0 0.0 -0.0 56

57 FV108090105 Nonfinancial corporate business -356.4 -370.7 212.1 201.5 -55.3 -127.9 -59.9 190.8 57

58 FV798090185 Financial business 208.2 259.0 -6.8 108.9 -206.4 242.9 614.0 804.5 58

59 FV318090185 Federal government 112.1 56.6 134.0 2.2 -37.8 -246.3 379.6 1119.5 59

60 FV218090185 State and local government 4.4 73.2 63.9 38.9 59.9 52.8 -85.4 802.6 60

61 FV268090185 Rest of the world -78.3 -44.7 -58.6 168.7 0.7 -99.5 433.2 -580.5 61

 Holding gains/losses

62 FR158200095 Households and nonprofit institutions serving households 1198.8 4025.6 7242.0 -857.2 9512.3 10849.9 16924.6 -6568.9 62

63 FR118200005 Nonfinancial noncorporate business 0.0 -0.0 -9.4 -3.0 0.0 -0.0 -5.2 -10.1 63

64 FR108200005 Nonfinancial corporate business 689.4 -1251.0 -2883.0 905.1 -6299.4 -7806.5 -6832.6 11232.7 64

65 FR798200005 Financial business -232.6 -650.0 -638.0 119.3 -220.2 430.1 -2497.0 -1964.8 65

66 FR318200005 Federal government 2.6 67.6 91.3 98.4 50.9 93.7 265.7 256.9 66

67 FR218200005 State and local government -27.2 380.9 854.3 256.8 949.1 931.1 2072.1 684.2 67

68 FR265000005 Rest of the world 203.7 386.6 -790.4 1267.8 1333.9 2451.1 2711.0 -3263.8 68
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Billions of dollars

2015 2016 2017 2018 2019 2020 2021 2022

 

 Change in net worth

69 FC152090005 Households and nonprofit institutions serving households 2948.7 5025.3 8749.1 590.9 12577.3 14567.0 18968.6 -6784.0 69

70 FC112090095 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 70

71 FC102090095 Nonfinancial corporate business 879.0 -1159.6 -2344.8 1673.1 -5764.3 -7422.2 -6244.0 12067.4 71

72 FC792090095 Financial business 81.1 -228.7 -574.1 398.8 -248.4 726.2 -1840.9 -1083.6 72

73 FC312090095 Federal government -502.7 -603.6 -347.0 -866.4 -1110.3 -3120.5 -2215.8 130.5 73

74 FC212090095 State and local government -169.6 284.5 765.7 168.9 878.0 1015.8 2313.0 1776.9 74

75 FC262090095 Rest of the world 556.8 750.3 -455.0 1882.3 1790.0 2927.4 3995.6 -2853.2 75

 Net worth

76 FL152090005 Households and nonprofit institutions serving households 89961.0 94986.3 103735.4 104326.3 116903.6 131470.7 150439.3 143655.3 76

77 FL112090095 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 77

78 FL102090095 Nonfinancial corporate business -10564.5 -11724.1 -14068.9 -12395.8 -18160.1 -25582.4 -31826.4 -19759.0 78

79 FL792090095 Financial business 451.8 223.1 -351.0 47.9 -200.5 525.7 -1315.2 -2398.8 79

80 FL312090095 Federal government -12250.6 -12854.2 -13201.2 -14067.6 -15177.9 -18298.4 -20514.2 -20383.7 80

81 FL212090095 State and local government 5049.8 5334.3 6100.1 6268.9 7146.9 8162.7 10475.8 12252.6 81

82 FL262090095 Rest of the world 7290.5 8040.8 7585.7 9468.0 11258.0 14185.4 18181.0 15327.8 82
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Z.1, December 7, 2023 157

S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

2015 2016 2017 2018 2019 2020 2021 2022

 

 Current account

 1 FA156902505 Gross value added 2251.0 2334.3 2423.2 2539.1 2655.9 2778.3 2916.0 3165.8 1

 2 FA156300003 Less: Consumption of fixed capital 491.6 517.6 548.6 586.5 614.7 647.5 722.0 821.0 2

 3 FA156902605 Equals: Net value added 1759.4 1816.8 1874.6 1952.6 2041.2 2130.8 2194.0 2344.8 3

 4 FA156025005 Compensation paid by households and NPISHs 836.2 865.9 890.6 935.7 980.4 1015.2 1058.1 1140.8 4

 5 FA156020001 Wages and salaries 690.7 711.2 735.7 771.2 808.2 832.6 877.6 948.3 5

 6 FA156401001 Employers’ social contributions 145.6 154.8 154.9 164.5 172.2 182.6 180.5 192.5 6

 7 FA156240101 Taxes on production and imports less subsidies 174.0 180.9 188.0 196.4 208.7 215.4 219.3 232.7 7

 8 FA156402101 Operating surplus, net 749.2 770.0 796.0 820.4 852.0 900.2 916.7 971.3 8

 9 FA156140005 Net national income/Balance of primary incomes, net 13736.3 14079.3 14817.1 15587.0 16293.3 16555.0 18043.1 19206.6 9

10 FA156402101 Operating surplus, net 749.2 770.0 796.0 820.4 852.0 900.2 916.7 971.3 10

11 FA156025105 Compensation of employees (received) 9699.4 9966.1 10424.4 10957.4 11447.9 11594.7 12545.9 13439.2 11

12 FA156020101 Wages and salaries 7859.5 8091.2 8474.4 8899.8 9325.0 9464.6 10312.6 11116.0 12

13 FA156401101 Employers’ social contributions 1839.9 1874.9 1950.0 2057.6 2123.0 2130.0 2233.2 2323.2 13

14 FA156150105 Property income (received) 3831.5 3897.3 4167.6 4424.3 4643.7 4651.9 5145.1 5425.8 14

15 FA156130101 Interest 1349.2 1389.4 1468.0 1555.9 1604.9 1511.8 1517.2 1629.4 15

16 FA156120105 Distributed income of corporations 2482.3 2507.9 2699.6 2868.4 3038.7 3140.1 3627.9 3796.4 16

17 FA156121101 Dividends 996.9 1027.4 1144.3 1234.9 1346.5 1403.5 1699.2 1804.5 17

18 FA156122101 Withdrawals from income of quasi-corporations (1) 1485.4 1480.4 1555.3 1633.5 1692.3 1736.6 1928.7 1991.9 18

19 FA156130001 Less: Uses of property income (interest paid) 543.8 554.1 570.9 615.1 650.3 591.8 564.5 629.7 19

20 FA156140005 Net national income/Balance of primary incomes, net 13736.3 14079.3 14817.1 15587.0 16293.3 16555.0 18043.1 19206.6 20

21 FA156220001 Less: Current taxes on income, wealth, etc. (paid) 1940.9 1958.8 2048.8 2074.2 2199.3 2256.5 2743.3 3138.3 21

22 FA156404105 Plus: Social benefits (received) 2635.1 2717.3 2807.4 2926.0 3088.5 4182.7 4554.1 3903.0 22

23 FA156600001 Less: Social contributions (paid) 1204.7 1238.8 1298.9 1361.7 1424.6 1449.3 1558.0 1701.7 23

24 FA156403101 Plus: Other current transfers (received) 50.3 59.7 48.3 50.3 55.8 47.2 87.7 99.1 24

25 FA156403001 Less: Other current transfers (paid) 188.0 185.7 192.8 196.4 205.3 194.4 220.2 234.2 25

26 FA156012095 Equals: Disposable income, net 13088.0 13473.0 14132.3 14931.1 15608.5 16884.8 18163.5 18134.5 26

27 FA156901001 Less: Final consumption expenditures 12297.4 12726.8 13290.6 13934.4 14417.6 14206.2 16043.0 17511.7 27

28 FA156006005 Equals: Net saving 790.6 746.2 841.6 996.7 1190.9 2678.6 2120.5 622.8 28

 Capital account

29 FA156006315 Net saving less capital transfers 769.2 731.6 856.8 987.3 1175.8 2675.6 2162.9 620.1 29

30 FA156006005 Net saving 790.6 746.2 841.6 996.7 1190.9 2678.6 2120.5 622.8 30

31 FA155440005 Less: Capital transfers paid (net) 21.4 14.6 -15.2 9.4 15.1 3.0 -42.4 2.7 31

32 FA155050905 Capital formation, net 232.3 274.7 295.9 309.5 306.7 342.8 455.5 409.2 32

33 FA155019005 Gross fixed capital formation, excluding consumer durables 734.3 803.5 856.8 909.8 935.6 1004.7 1192.4 1245.8 33

34 FA155012005 Residential 525.8 581.0 635.6 668.4 678.1 752.1 937.7 970.8 34

35 FA165013005 Nonresidential (nonprofit organizations) 208.5 222.5 221.2 241.4 257.5 252.7 254.7 275.0 35

36 FA156300003 Less: Consumption of fixed capital 491.6 517.6 548.6 586.5 614.7 647.5 722.0 821.0 36

37 FA155420003 Acquisition of nonproduced nonfinancial assets -10.4 -11.3 -12.2 -13.8 -14.2 -14.4 -14.9 -15.5 37

38 FA155000905 Net lending (+) or borrowing (-), capital account (lines 29-32) 536.8 456.9 560.9 677.7 869.1 2332.8 1707.4 210.9 38

 Financial account

39 FA155000905 Net lending (+) or borrowing (-) (line 38) 536.8 456.9 560.9 677.7 869.1 2332.8 1707.4 210.9 39

40 FA154090005 Net acquisition of financial assets 1585.8 853.3 1508.6 1415.2 2457.6 3499.1 2852.4 1877.9 40

41 FA154000005 Currency and deposits 654.0 646.1 432.9 259.0 598.4 2416.0 1750.5 -399.6 41

42 FA153020005 Currency and transferable deposits 112.6 -58.2 210.1 -175.1 24.6 1982.9 971.1 390.2 42

43 FA153030005 Time and savings deposits 555.2 710.0 210.0 431.2 575.0 425.2 779.7 -793.2 43

44 FA153091003 Foreign deposits -13.8 -5.6 12.7 2.9 -1.2 7.8 -0.2 3.4 44

45 FA313131003 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 FA154022005 Debt securities 211.9 -124.2 -105.0 786.1 144.2 -626.8 -995.6 1547.2 46

47 FA153061105 Treasury securities 319.2 101.5 -48.1 579.6 119.6 -344.4 -654.4 1138.6 47

48 FA153061705 Agency- and GSE-backed securities (2) 190.0 -54.8 18.5 167.7 34.1 -299.9 -21.2 670.8 48

49 FA153062005 Municipal securities -35.9 19.8 -32.0 1.5 -62.5 -28.7 -112.6 30.4 49

50 FA153063005 Corporate and foreign bonds -261.4 -190.7 -43.4 37.3 52.9 46.2 -207.4 -292.6 50

51 FA154023005 Loans -61.9 -11.9 -53.8 -52.3 45.0 122.8 93.1 -81.6 51

52 FA154041005 Short term -47.1 -6.7 -50.5 -46.5 47.3 124.3 87.0 -72.7 52

53 FA153065005 Long term (mortgages) -14.8 -5.2 -3.3 -5.8 -2.3 -1.5 6.1 -8.9 53

54 FA153081005 Equity and investment fund shares 288.1 -80.0 668.0 35.0 1172.0 978.2 1680.9 133.9 54

55 FA153064105 Corporate equities -7.2 222.9 179.1 -117.7 360.0 694.2 1139.8 677.6 55

56 FA153064205 Mutual fund shares 97.3 53.9 308.2 16.0 303.8 -159.7 542.9 -728.2 56

57 FA153034005 Money market fund shares 46.9 -143.4 72.9 168.9 451.3 418.6 111.8 276.0 57

58 FA152090205 Equity in noncorporate business 151.2 -213.4 107.9 -32.3 56.9 25.1 -113.7 -91.6 58

59 FA153094305 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59
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2015 2016 2017 2018 2019 2020 2021 2022

 

60 FA153052005 Insurance, pension and standardized guarantee schemes 493.6 420.1 550.5 381.8 491.9 566.0 338.8 683.1 60

61 FA153076005 Insurance receivables due from property-casualty insurance companies 26.3 31.1 31.6 17.9 12.0 21.3 40.9 62.0 61

62 FA153040005 Life insurance reserves 47.2 41.8 19.0 49.4 16.7 94.2 30.9 59.4 62

63 FA153050005 Pension entitlements (4) 407.1 321.6 477.2 280.3 433.4 426.0 230.4 517.1 63

64 FA153095105 Non-life insurance reserves at life insurance companies 5.6 12.8 13.1 20.3 15.4 16.2 15.1 6.1 64

65 FA313195105 Retiree Health Care Funds 7.4 12.9 9.6 13.9 14.4 8.2 21.4 38.5 65

66 FA163096005 Other accounts receivable 0.2 3.2 16.0 5.5 6.1 42.9 -15.3 -5.2 66

67 FA154190005 Net incurrence of liabilities 387.2 457.7 587.7 496.6 597.6 576.9 1271.0 1175.1 67

68 FA163162003 Debt securities (municipals) -7.9 -3.2 1.1 -2.1 -2.5 -9.7 -1.2 -0.9 68

69 FA154123005 Loans 374.2 453.0 578.4 489.8 549.7 558.6 1239.4 1144.3 69

70 FA154141005 Short term 244.3 242.9 276.2 198.9 212.3 147.5 402.1 286.5 70

71 FA153166000 Consumer credit 233.5 236.2 194.3 172.7 185.2 -12.0 237.8 345.5 71

72 FA153168005 Depository institution loans n.e.c. 31.5 10.6 7.9 39.9 11.1 20.5 52.3 69.4 72

73 FA153169005 Other loans and advances -20.7 -4.0 74.0 -13.7 16.1 139.0 111.9 -128.5 73

74 FA153165005 Long term (mortgages) 129.9 210.1 302.2 290.9 337.3 411.1 837.3 857.9 74

75 FA543077073 Insurance, pension and standardized guarantee schemes 1.7 -0.3 1.8 1.9 1.5 0.1 1.5 -1.5 75

76 FA163170005 Other accounts payable (trade debt) 19.2 8.2 6.4 7.0 48.9 27.8 31.4 33.1 76

 Addendum:

77 FA155000005 Net lending (+) or borrowing (-), financial account (lines 40-67) 1198.5 395.6 920.8 918.6 1860.0 2922.2 1581.4 702.8 77

 Other changes in volume account

78 FV158090185 Total other volume changes 980.8 268.0 650.3 460.8 1889.2 1041.5 -118.9 -835.2 78

79 FU155111005 Net investment in consumer durable goods 201.4 220.2 224.0 247.9 234.9 291.2 479.0 398.6 79

80 FV152010005 Disaster losses 0.0 0.0 -55.2 -29.7 0.0 0.0 -19.7 -29.2 80

81 FV158090085 Other volume changes 117.7 109.1 121.5 1.8 663.4 160.9 -452.2 -1696.5 81

82 FU157005045 Less: Statistical discrepancy (lines 38-77) (5) -661.7 61.3 -360.0 -240.8 -990.9 -589.4 126.0 -491.9 82

 Revaluation account

83 FR152010085 Nonfinancial assets 1469.4 1620.5 1756.6 1446.1 1488.7 3095.9 6712.3 3640.7 83

84 FR155035005 Real estate 1536.9 1696.0 1848.0 1489.0 1525.4 3016.4 6197.3 3361.6 84

85 FR165015205 Equipment -3.2 -3.1 -1.7 -0.7 -0.7 7.4 19.1 23.1 85

86 FR165013765 Intellectual property products -1.7 1.7 3.4 1.7 0.6 7.0 3.1 7.0 86

87 FR155111005 Consumer durable goods -62.5 -74.1 -93.1 -43.9 -36.6 65.2 492.8 249.0 87

88 FR158080095 Financial assets -270.6 2405.2 5485.4 -2303.3 8023.6 7754.0 10212.3 -10209.6 88

89 FR154022005 Debt securities -62.0 -41.2 54.9 -69.7 195.0 173.8 -123.2 -439.5 89

90 FR153064105 Corporate equities -373.5 1095.9 2622.2 -1501.4 4021.2 4144.4 5027.3 -6013.2 90

91 FR153064205 Mutual fund shares -205.0 298.5 1048.1 -676.3 1510.0 1143.1 1288.8 -2344.5 91

92 FR152090205 Equity in noncorporate business 527.5 587.5 711.8 463.3 739.7 1046.2 2540.2 764.5 92

93 FR153094305 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 93

94 FR153052045 Insurance, pension and standardized guarantee schemes -157.5 464.5 1048.4 -519.2 1557.7 1246.5 1479.2 -2176.9 94

95 FR158200095 Changes in net worth due to nominal holding gains/losses 1198.8 4025.6 7242.0 -857.2 9512.3 10849.9 16924.6 -6568.9 95

 Changes in balance sheet account

96 FC152090005 Change in net worth (lines 32+38+78+95) 2948.7 5025.3 8749.1 590.9 12577.3 14567.0 18968.6 -6784.0 96

 Balance sheet account (end of period)

97 FL152000005 Total assets 104463.8 109916.7 119227.8 120300.3 133509.4 148649.8 169256.6 163579.6 97

98 LM152010005 Nonfinancial assets 31553.1 33664.7 35883.3 37852.5 39872.5 43608.1 51231.1 55649.3 98

99 LM155035005 Real estate 25991.7 27920.5 29975.7 31701.4 33482.3 36815.9 43415.4 47123.0 99

100 LM155111005 Consumer durable goods 4990.6 5136.7 5267.6 5471.6 5669.9 6026.2 6998.1 7645.6 100

101 LM165015205 Equipment 407.7 434.8 458.0 485.5 514.9 543.5 582.5 627.9 101

102 LM165013765 Intellectual property products 163.0 172.7 182.0 193.9 205.4 222.4 235.1 252.7 102

103 FL154090005 Financial assets 72910.7 76252.0 83344.5 82447.8 93636.9 105041.8 118025.5 107930.3 103

104 FL154000005 Currency and deposits 9216.0 9851.4 10216.4 10475.5 11086.6 13532.8 15259.5 14860.1 104

105 FL153020005 Currency and transferable deposits 1200.3 1131.2 1341.3 1166.2 1201.2 3184.2 4147.5 4537.7 105

106 LM153091003 Foreign deposits 31.9 26.3 39.0 41.8 40.6 48.5 48.2 51.7 106

107 FL153030005 Time and savings deposits 7983.8 8694.0 8836.2 9267.5 9844.7 10300.2 11063.8 10270.8 107

108 FL313131003 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 108
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2015 2016 2017 2018 2019 2020 2021 2022

 

109 LM154022005 Debt securities 3873.3 3573.6 3578.4 4226.2 4529.2 4056.4 3259.4 4592.9 109

110 LM153061105 Treasury securities 813.2 896.7 849.3 1390.8 1591.1 1332.4 607.6 1633.9 110

111 LM153061705 Agency- and GSE-backed securities (2) 624.5 567.1 589.6 729.7 790.7 494.6 460.8 1077.4 111

112 LM153062005 Municipal securities 1937.9 1921.8 1938.9 1892.3 1919.5 1943.6 1809.7 1623.1 112

113 LM153063005 Corporate and foreign bonds 497.7 188.0 200.5 213.5 228.0 285.9 381.2 258.5 113

114 FL154023005 Loans 1153.3 1141.4 1087.6 1035.3 1080.3 1203.1 1296.2 1214.6 114

115 FL154041005 Short term 1054.6 1047.9 997.4 950.9 998.2 1122.5 1209.5 1136.9 115

116 FL153065005 Long term (mortgages) 98.7 93.5 90.2 84.4 82.1 80.6 86.6 77.7 116

117 FL153081005 Equity and investment fund shares 32403.0 34416.6 39466.4 37749.7 45651.0 53013.8 63066.9 55650.7 117

118 LM153064105 Corporate equities 13848.3 15279.8 18101.0 16489.0 21182.2 26067.1 31782.0 26504.9 118

119 LM153064205 Mutual fund shares 6997.7 7350.0 8706.3 8046.0 10006.8 10990.3 12822.0 9749.3 119

120 FL153034005 Money market fund shares 1723.6 1580.2 1653.1 1822.0 2273.3 2691.8 2803.7 3079.7 120

121 LM152090205 Equity in noncorporate business 9833.4 10206.6 11006.1 11392.7 12188.7 13264.5 15659.3 16316.9 121

122 LM153094305 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 FL153052005 Insurance, pension and standardized guarantee schemes 26024.1 27024.8 28735.4 28695.3 31017.9 32920.9 34844.0 31317.7 123

124 FL153076005 Insurance receivables due from property-casualty insurance companies 511.4 542.4 574.0 591.9 603.9 625.2 666.1 728.1 124

125 FL153040005 Life insurance reserves 1510.9 1568.1 1626.6 1659.1 1731.3 1867.0 1944.9 1933.3 125

126 FL153050005 Pension entitlements (4) 23431.2 24318.0 25915.9 25791.1 27999.7 29721.2 31489.0 27867.7 126

127 FL153095105 Non-life insurance reserves at life insurance companies 306.0 318.8 331.8 352.2 367.6 383.8 398.9 405.1 127

128 FL313195105 Retiree Health Care Funds 264.7 277.6 287.1 301.0 315.4 323.6 345.1 383.6 128

129 FL163096005 Other accounts receivable 241.0 244.2 260.2 265.8 271.9 314.8 299.5 294.3 129

130 FL152100005 Total liabilities and net worth 104463.8 109916.7 119227.8 120300.3 133509.4 148649.8 169256.6 163579.6 130

131 FL154190005 Liabilities 14502.7 14930.4 15492.4 15974.0 16605.8 17179.2 18817.3 19924.3 131

132 FL163162003 Debt securities (municipals) 220.1 216.9 218.0 216.0 213.5 203.8 202.6 201.7 132

133 FL154123005 Loans 13909.8 14332.8 14885.4 15360.2 15944.1 16499.2 18105.7 19182.0 133

134 FL154141005 Short term 4178.1 4421.0 4697.2 4899.7 5112.0 5264.2 5792.1 6078.6 134

135 FL153166000 Consumer credit 3400.2 3636.4 3830.8 4007.0 4192.2 4184.9 4548.5 4894.0 135

136 FL153168005 Depository institution loans n.e.c. 280.6 291.3 299.1 339.0 350.2 370.7 423.0 492.5 136

137 FL153169005 Other loans and advances 497.3 493.3 567.3 553.6 569.6 708.6 820.6 692.1 137

138 FL153165005 Long term (mortgages) 9731.6 9911.8 10188.2 10460.5 10832.1 11235.0 12313.6 13103.4 138

139 FL543077073 Insurance, pension and standardized guarantee schemes 31.6 31.3 33.1 35.0 36.5 36.6 38.1 36.6 139

140 FL163170005 Other accounts payable (trade debt) 341.3 349.5 355.9 362.9 411.7 439.6 470.9 504.0 140

141 FL152090005 Net worth 89961.0 94986.3 103735.4 104326.3 116903.6 131470.7 150439.3 143655.3 141

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.
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Billions of dollars

2015 2016 2017 2018 2019 2020 2021 2022

 

 Current account

 1 FA116902505 Gross value added 3228.9 3241.3 3411.9 3614.2 3765.2 3572.9 4029.0 4467.9 1

 2 FA116300001 Less: Consumption of fixed capital 305.6 313.8 326.6 342.6 357.9 372.1 398.4 445.2 2

 3 FA116902605 Equals: Net value added 2923.3 2927.5 3085.3 3271.7 3407.3 3200.8 3630.6 4022.7 3

 4 FA116025001 Compensation of employees (paid) 1007.4 1041.2 1093.7 1150.9 1209.9 1184.9 1313.2 1437.7 4

 5 FA116020001 Wages and salaries 852.3 883.2 927.7 975.5 1027.8 1006.9 1124.1 1233.5 5

 6 FA116401005 Employers’ social contributions 155.1 158.0 166.0 175.4 182.1 177.9 189.1 204.1 6

 7 FA116240101 Taxes on production and imports less subsidies 206.1 208.7 223.7 244.6 253.5 37.5 106.0 276.5 7

 8 FA116402105 Operating surplus, net 1709.8 1677.7 1768.0 1876.2 1943.8 1978.5 2211.3 2308.5 8

 9 FA116140001 Net national income/Balance of primary incomes, net 25.8 22.2 29.0 33.2 29.0 29.5 48.2 73.2 9

10 FA116402105 Operating surplus, net 1709.8 1677.7 1768.0 1876.2 1943.8 1978.5 2211.3 2308.5 10

11 FA116130101 Property income (interest received) 14.6 15.6 17.8 20.1 20.6 18.8 14.7 19.5 11

12 FA116150005 Less: Uses of property income (paid) 1698.6 1671.1 1756.8 1863.0 1935.4 1967.8 2177.8 2254.9 12

13 FA116130001 Interest 222.6 232.6 253.5 258.7 274.2 291.2 288.0 300.4 13

14 FA116122001 Withdrawals from income of quasi-corporations (2) 1475.8 1438.2 1503.0 1603.2 1659.8 1675.6 1887.3 1952.1 14

15 FA113192281 Reinvested earnings on foreign direct investment 0.2 0.3 0.3 1.1 1.5 1.0 2.5 2.4 15

16 FA116112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 FA116140001 Net national income/Balance of primary incomes, net 25.8 22.2 29.0 33.2 29.0 29.5 48.2 73.2 17

18 FA116403001 Less: Other current transfers (paid) 25.8 22.2 29.0 33.2 29.0 29.5 48.2 73.2 18

19 FA116012005 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA116012005 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Capital account

21 FA116006305 Net saving less capital transfers 0.0 0.0 9.4 3.0 0.0 0.0 5.2 10.1 21

22 FA116012005 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA115440005 Less: Capital transfers paid (net) 0.0 0.0 -9.4 -3.0 0.0 0.0 -5.2 -10.1 23

24 FA115050985 Capital formation, net 98.4 53.5 85.6 72.5 99.2 64.1 92.6 101.6 24

25 FA115019085 Gross fixed capital formation 383.5 364.8 410.9 411.7 456.9 448.1 490.0 533.2 25

26 FA115013085 Nonresidential 277.8 246.3 284.3 279.0 319.1 296.8 307.9 343.8 26

27 FA115012005 Residential 105.7 118.5 126.6 132.7 137.8 151.3 182.1 189.3 27

28 FA116300001 Less: Consumption of fixed capital 305.6 313.8 326.6 342.6 357.9 372.1 398.4 445.2 28

29 FA115020005 Change in private inventories 20.5 2.5 1.3 3.4 0.3 -12.0 1.0 13.7 29

30 FA115000905 Net lending (+) or borrowing (-), capital account (lines 21-24) -98.4 -53.5 -76.3 -69.5 -99.2 -64.1 -87.4 -91.5 30

 Financial account

31 FA115000905 Net lending (+) or borrowing (-) (line 30) -98.4 -53.5 -76.3 -69.5 -99.2 -64.1 -87.4 -91.5 31

32 FA114090005 Net acquisition of financial assets 310.6 383.9 613.6 309.1 123.7 1034.2 703.1 351.3 32

33 FA114000005 Currency and deposits 18.6 73.0 117.9 59.3 49.4 262.8 173.6 113.9 33

34 FA113020005 Currency and transferable deposits 7.4 24.8 26.7 11.5 13.8 60.0 78.2 42.5 34

35 FA113030003 Time and savings deposits 11.3 48.2 91.1 47.8 35.5 202.7 95.4 71.3 35

36 FA114022005 Debt securities 6.0 2.8 6.9 1.9 -3.2 -1.6 2.3 12.8 36

37 FA113061003 Treasury securities 5.7 2.0 6.1 2.2 -1.1 -2.3 2.2 11.9 37

38 FA113062003 Municipal securities 0.3 0.9 0.8 -0.3 -2.1 0.7 0.1 0.9 38

39 FA114023005 Loans 7.1 -2.0 8.4 1.0 1.7 2.6 -1.8 3.8 39

40 FA113066003 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 FA113065005 Long term (mortgages) 7.1 -2.0 8.4 1.0 1.7 2.6 -1.8 3.8 41

42 FA113081005 Equity and investment fund shares 3.0 3.3 11.6 4.9 3.8 20.5 3.6 7.2 42

43 FA113034003 Money market fund shares 2.5 2.6 9.1 4.8 3.5 20.2 2.4 6.3 43

44 FA113092405 Equity in government-sponsored enterprises (3) 0.5 0.7 2.6 0.2 0.3 0.2 1.3 0.9 44

45 FA113076005 Insurance, pension and standardized guarantee schemes (4) -10.2 -3.0 4.0 -1.3 9.9 6.9 17.1 9.5 45

46 FA113096005 Other accounts receivable 286.1 309.7 464.8 243.2 62.1 743.0 508.2 204.1 46

47 FA113070003 Trade receivables -3.6 76.7 55.0 49.6 -89.4 176.6 80.1 50.8 47

48 FA113072003 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 145.8 -102.3 -41.6 48

49 FA113093005 Other (miscellaneous assets) 289.6 232.9 409.7 193.6 151.4 420.6 530.4 194.9 49

50 FA114194005 Net incurrence of liabilities 409.0 437.4 689.8 378.6 223.0 1098.3 790.4 442.8 50

51 FA114135005 Loans 251.8 389.3 463.5 297.7 113.6 524.8 366.7 433.2 51

52 FA114141005 Short term 70.3 119.1 132.4 86.3 26.0 198.0 26.6 120.9 52

53 FA113168005 Depository institution loans n.e.c. 63.1 118.2 127.3 77.5 16.6 101.6 -30.3 77.8 53

54 FA113169005 Other loans and advances 7.3 0.8 5.1 8.8 9.3 96.4 56.9 43.1 54

55 FA114142005 Long term 181.5 270.2 331.0 211.4 87.7 326.8 340.1 312.3 55

56 FA113165005 Mortgages 181.1 269.3 331.4 206.7 87.6 328.0 340.3 312.1 56

57 FA115114305 Foreign direct investment in the U.S.: debt 0.4 1.0 -0.4 4.7 0.0 -1.2 -0.2 0.2 57
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58 FA113181005 Equity and investment fund shares 147.4 -229.0 109.6 -36.8 55.6 20.2 -128.6 -94.8 58

59 FA112090205 Equity in noncorporate business 145.9 -230.7 106.9 -41.8 51.7 18.2 -129.5 -95.2 59

60 FA115114103 Foreign direct investment in the U.S.: equity 1.5 1.7 2.7 5.0 3.9 2.0 0.8 0.5 60

61 FA113196005 Other accounts payable 9.8 277.1 116.8 117.8 53.8 553.2 552.3 104.3 61

62 FA113170005 Trade payables -16.0 65.8 7.8 5.7 -57.0 131.4 68.3 42.9 62

63 FA113178003 Taxes payable 5.2 10.0 4.6 18.5 6.8 7.6 32.3 11.5 63

64 FA113193003 Other (miscellaneous liabilities) 20.7 201.4 104.4 93.6 104.0 414.2 451.7 49.9 64

 Addendum:

65 FA115000005 Net lending (+) or borrowing (-), financial account (lines 32-50) -98.4 -53.5 -76.3 -69.5 -99.2 -64.1 -87.4 -91.5 65

 Other changes in volume account

66 FV118090105 Total other volume changes 0.0 0.0 -0.0 0.0 -0.0 0.0 0.0 -0.0 66

67 FV112010005 Disaster losses 0.0 0.0 -25.2 -13.4 0.0 0.0 -11.9 -13.3 67

68 FV118090085 Other volume changes 0.0 0.0 25.2 13.4 -0.0 0.0 11.9 13.3 68

 Revaluation account

69 FR112010005 Nonfinancial assets 528.6 591.5 704.5 479.5 759.3 1053.7 2564.1 732.2 69

70 FR115035005 Real estate 561.0 573.0 654.8 428.2 723.0 990.3 2404.1 605.7 70

71 FR115035023 Residential 406.1 379.6 435.7 388.4 452.8 750.1 1569.0 460.3 71

72 FR115035035 Nonresidential 154.9 193.4 219.1 39.8 270.2 240.2 835.1 145.4 72

73 FR115015205 Equipment 18.1 28.1 37.4 50.3 36.4 55.4 107.1 102.1 73

74 FR115012265 Residential -2.0 -2.6 -1.5 4.0 -2.5 7.4 6.2 -1.6 74

75 FR115013265 Nonresidential 20.1 30.7 38.9 46.2 38.9 47.9 100.9 103.8 75

76 FR115013765 Intellectual property products 0.1 2.8 5.9 2.9 3.5 13.7 8.9 14.3 76

77 FR115020005 Inventories -50.6 -12.4 6.4 -1.8 -3.7 -5.6 44.0 10.1 77

78 FR114022005 Financial assets (debt securities) -1.0 -1.0 0.1 -1.2 3.2 3.5 -4.2 -11.8 78

79 FR114190085 Liabilities 527.6 590.6 714.0 481.4 762.5 1057.2 2565.1 730.4 79

80 FR115114305 Direct investment in the U.S.: debt 0.0 -0.1 0.1 0.1 -0.2 -0.1 -0.1 0.0 80

81 FR112090205 Equity in noncorporate business 527.5 587.5 711.8 463.3 739.7 1046.2 2540.2 764.5 81

82 FR115114103 Direct investment in the U.S.: equity 0.1 3.2 2.1 18.0 22.9 11.2 25.0 -34.0 82

83 FR118200005 Changes in net worth due to nominal holding gains/losses 0.0 -0.0 -9.4 -3.0 0.0 -0.0 -5.2 -10.1 83

 Changes in balance sheet account

84 FC112090095 Change in net worth (lines 24+30+66+83) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84

 Balance sheet account (end of period)

85 FL112000005 Total assets 16527.9 17555.8 18934.5 19781.1 20766.6 22922.1 26265.6 27425.6 85

86 LM112010005 Nonfinancial assets 11987.0 12632.0 13397.0 13935.7 14794.2 15912.0 18556.7 19377.2 86

87 LM115035005 Real estate 10670.9 11308.6 12021.6 12512.5 13321.9 14402.6 16895.8 17583.9 87

88 LM115035023 Residential (5) 5925.8 6329.9 6770.1 7172.7 7654.1 8441.5 10056.0 10548.6 88

89 LM115035035 Nonresidential 4745.0 4978.6 5251.5 5339.7 5667.8 5961.1 6839.8 7035.3 89

90 LM115015205 Equipment 811.0 819.3 839.2 868.5 895.4 921.6 1000.4 1071.2 90

91 LM115012265 Residential 50.0 51.8 55.0 63.4 64.7 76.0 87.9 91.3 91

92 LM115013265 Nonresidential 761.0 767.6 784.2 805.0 830.7 845.6 912.5 980.0 92

93 LM115013765 Intellectual property products 243.4 252.3 276.6 293.6 319.2 347.7 375.4 413.1 93

94 LM115020005 Inventories 261.7 251.8 259.5 261.1 257.7 240.1 285.1 308.9 94

95 FL114090005 Financial assets 4540.9 4923.8 5537.5 5845.4 5972.4 7010.1 7709.0 8048.4 95

96 FL114000005 Currency and deposits 1115.2 1188.2 1306.1 1365.4 1414.7 1677.5 1851.1 1964.9 96

97 FL113020005 Currency and transferable deposits 254.4 279.2 306.0 317.5 331.3 391.3 469.5 512.1 97

98 FL113030003 Time and savings deposits 860.8 909.0 1000.1 1047.9 1083.4 1286.2 1381.6 1452.9 98

99 LM114022005 Debt securities 66.2 68.1 75.1 75.8 75.9 77.8 75.9 76.9 99

100 LM113061003 Treasury securities 61.9 63.0 69.0 70.2 72.1 73.2 71.3 71.9 100

101 LM113062003 Municipal securities 4.3 5.1 6.0 5.6 3.8 4.6 4.7 5.0 101

102 FL114023005 Loans 41.5 39.5 48.0 49.0 50.7 53.4 51.6 55.4 102

103 FL113066003 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 FL113065005 Long term (mortgages) 41.5 39.5 48.0 49.0 50.7 53.4 51.6 55.4 104

105 FL113081005 Equity and investment fund shares 97.1 100.5 112.1 117.0 120.8 141.3 144.9 152.1 105

106 FL113034003 Money market fund shares 88.1 90.7 99.8 104.6 108.1 128.3 130.7 137.0 106

107 FL113092405 Equity in government-sponsored enterprises (3) 9.0 9.8 12.3 12.5 12.7 13.0 14.2 15.1 107

108 FL113076005 Insurance, pension and standardized guarantee schemes (4) 119.2 116.2 120.3 118.9 128.9 135.8 152.9 162.4 108
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109 FL113096005 Other accounts receivable 3101.6 3411.3 3876.0 4119.3 4181.3 4924.3 5432.5 5636.6 109

110 FL113070003 Trade receivables 671.2 747.9 802.9 852.6 763.2 939.8 1019.9 1070.7 110

111 FL113072003 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 145.8 43.5 1.9 111

112 FL113093005 Other (miscellaneous assets) 2430.4 2663.3 3073.1 3266.7 3418.1 3838.7 4369.1 4564.0 112

113 FL112100005 Total liabilities and net worth 16527.9 17555.8 18934.5 19781.1 20766.6 22922.1 26265.6 27425.6 113

114 FL114194005 Liabilities 16527.9 17555.8 18934.5 19781.1 20766.6 22922.1 26265.6 27425.6 114

115 FL114135005 Loans 4727.2 5114.5 5576.4 5872.9 5985.4 6509.6 6894.5 7327.5 115

116 FL114141005 Short term 1377.8 1496.8 1629.3 1715.5 1741.5 1939.5 1984.7 2105.7 116

117 FL113168005 Depository institution loans n.e.c. 1144.8 1263.0 1390.4 1467.9 1484.5 1586.1 1555.8 1633.6 117

118 FL113169005 Other loans and advances 233.0 233.8 238.9 247.7 257.0 353.4 428.9 472.0 118

119 FL114142005 Long term 3349.5 3617.7 3947.2 4157.4 4243.9 4570.1 4909.8 5221.8 119

120 FL113165005 Mortgages 3347.6 3615.0 3944.8 4150.3 4237.0 4564.4 4904.4 5216.3 120

121 FL115114305 Foreign direct investment in the U.S.: debt 1.9 2.7 2.4 7.1 7.0 5.7 5.3 5.5 121

122 LM113181005 Equity and investment fund shares 9798.3 10161.8 10961.8 11394.1 12213.3 13291.4 15697.7 16320.4 122

123 LM112090205 Equity in noncorporate business 9783.0 10138.9 10937.4 11314.5 12105.2 13174.2 15553.1 16207.1 123

124 LM115114103 Foreign direct investment in the U.S.: equity 15.3 22.9 24.4 79.6 108.1 117.2 144.6 113.3 124

125 FL113196005 Other accounts payable 2002.3 2279.5 2396.2 2514.0 2567.8 3121.0 3673.4 3777.7 125

126 FL113170005 Trade payables 519.7 585.4 593.2 598.9 542.0 673.4 741.7 784.6 126

127 FL113178003 Taxes payable 122.5 132.5 137.2 155.6 162.4 170.0 202.3 213.7 127

128 FL113193003 Other (miscellaneous liabilities) 1360.1 1561.5 1665.9 1759.5 1863.5 2277.7 2729.4 2779.4 128

129 FL112090095 Net worth 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 129

(1) 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.

(2) 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.

(3) 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 2004:Q4.

(4) Net equity in reserves of property-casualty insurance companies.

(5) Farm houses are included in the household sector.
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 Current account

 1 FA106902501 Gross value added 9222.3 9346.4 9771.4 10337.8 10801.0 10500.0 11995.9 13300.8 1

 2 FA106300003 Less: Consumption of fixed capital 1408.3 1441.0 1509.4 1582.1 1666.2 1730.2 1818.3 2004.7 2

 3 FA106902605 Equals: Net value added 7814.1 7905.4 8262.0 8755.7 9134.8 8769.9 10177.6 11296.1 3

 4 FA106025005 Compensation of employees (paid) 5303.9 5448.4 5727.6 6047.0 6343.8 6349.0 6987.8 7580.2 4

 5 FA106020001 Wages and salaries 4439.7 4574.4 4804.9 5068.5 5322.9 5351.0 5915.6 6441.1 5

 6 FA106401001 Employers’ social contributions 864.2 874.0 922.7 978.6 1020.8 998.1 1072.2 1139.1 6

 7 FA106240101 Taxes on production and imports less subsidies 771.2 785.2 825.9 873.5 928.3 537.2 795.2 1092.1 7

 8 FA106402101 Operating surplus, net 1739.0 1671.8 1708.5 1835.1 1862.7 1883.7 2394.6 2623.8 8

 9 FA106140005 Net national income/Balance of primary incomes, net 926.5 800.1 833.7 871.0 864.7 825.3 1058.1 1215.7 9

10 FA106402101 Operating surplus, net 1739.0 1671.8 1708.5 1835.1 1862.7 1883.7 2394.6 2623.8 10

11 FA106150105 Property income (received) 543.7 520.6 595.8 913.3 767.3 541.7 501.9 574.1 11

12 FA106130101 Interest 150.8 151.4 166.4 188.8 239.5 172.0 145.4 179.7 12

13 FA106121101 Distributed income of corporations (dividends) 125.5 102.5 102.0 947.2 379.1 197.1 91.7 95.4 13

14 FA103092201 Reinvested earnings on U.S. direct investment abroad 267.4 266.7 327.3 -222.6 148.8 172.6 264.8 299.0 14

15 FA106150005 Less: Uses of property income (paid) 1356.2 1392.3 1470.6 1877.5 1765.4 1600.1 1838.4 1982.2 15

16 FA106130001 Interest 457.5 479.7 501.6 527.7 593.9 482.1 427.7 432.1 16

17 FA106121001 Distributed income of corporations (dividends) 809.2 832.0 871.6 1229.6 1046.9 1029.7 1201.3 1328.7 17

18 FA103192201 Reinvested earnings on foreign direct investment 71.6 65.0 80.6 100.8 104.7 71.9 188.6 192.2 18

19 FA106112001 Rent 17.8 15.6 16.8 19.4 19.9 16.3 20.8 29.2 19

20 FA106140005 Net national income/Balance of primary incomes, net 926.5 800.1 833.7 871.0 864.7 825.3 1058.1 1215.7 20

21 FA106220001 Less: Current taxes on income, wealth, etc. (paid) 283.9 262.1 213.8 212.9 196.9 208.6 298.0 416.9 21

22 FA106403001 Less: Other current transfers (paid) 99.8 73.3 92.9 97.8 89.9 90.9 121.5 124.6 22

23 FA106012095 Equals: Disposable income, net 542.8 464.7 527.0 560.3 577.9 525.8 638.6 674.2 23

24 FA106012095 Equals: Net saving 542.8 464.7 527.0 560.3 577.9 525.8 638.6 674.2 24

 Capital account

25 FA106006385 Net saving less capital transfers 546.1 462.1 326.1 566.5 590.4 512.1 648.5 643.9 25

26 FA106012095 Net saving 542.8 464.7 527.0 560.3 577.9 525.8 638.6 674.2 26

27 FA105440005 Less: Capital transfers paid (net) -3.2 2.6 200.8 -6.2 -12.4 13.6 -9.8 30.3 27

28 FA105050985 Capital formation, net 542.7 429.6 441.9 550.0 531.2 291.5 413.3 726.9 28

 Gross fixed capital formation (acquisition of

29 FA105019085 produced nonfinancial assets) 1801.9 1826.8 1919.8 2080.2 2126.3 2047.6 2215.1 2483.2 29

30 FA106300003 Less: Consumption of fixed capital 1408.3 1441.0 1509.4 1582.1 1666.2 1730.2 1818.3 2004.7 30

31 FA105420095 Acquisition of nonproduced nonfinancial assets 29.5 7.3 0.2 -1.0 -0.8 -0.3 5.8 104.8 31

32 FA105020005 Change in private inventories 119.6 36.6 31.3 53.0 71.9 -25.6 10.7 143.6 32

33 FA105000905 Net lending (+) or borrowing (-), capital account (lines 25-28) 3.4 32.4 -115.8 16.5 59.1 220.6 235.1 -83.0 33

 Financial account

34 FA105000905 Net lending (+) or borrowing (-) (line 33) 3.4 32.4 -115.8 16.5 59.1 220.6 235.1 -83.0 34

35 FA104090005 Net acquisition of financial assets 1143.3 960.2 578.5 855.3 2404.6 432.7 1334.6 1169.4 35

36 FA104000005 Currency and deposits 39.0 178.2 66.8 145.8 179.5 525.0 301.6 -1.8 36

37 FA103020005 Currency and transferable deposits 47.1 157.0 -44.4 250.2 140.6 444.2 264.8 -39.5 37

38 FA103030003 Time and savings deposits 10.9 17.5 -7.7 5.8 14.3 76.7 5.6 13.3 38

39 FA103091003 Foreign deposits -19.0 3.7 119.0 -110.3 24.7 4.0 31.3 24.4 39

40 FA104022005 Debt securities 3.6 -3.8 30.8 22.3 69.4 37.1 37.8 -18.5 40

41 FA103069100 Open market paper 7.8 -6.9 -8.8 38.4 55.4 33.3 5.4 -51.5 41

42 FA103061103 Treasury securities -3.8 4.2 30.1 -15.6 6.7 7.4 10.7 24.0 42

43 FA103061703 Agency- and GSE-backed securities (2) -1.3 1.3 10.0 -5.5 2.4 3.6 2.9 6.7 43

44 FA103062003 Municipal securities 1.0 -2.7 -2.5 1.7 4.8 -8.4 11.2 -0.2 44

45 FA123063003 Corporate and foreign bonds (held by equity REITs) -0.1 0.4 2.0 3.2 0.0 1.2 7.7 2.6 45

46 FA104035005 Loans 26.5 -14.1 -70.6 53.2 -96.4 4.3 -48.5 -3.7 46

47 FA104041005 Short term 13.6 26.8 -52.7 -24.7 -1.9 23.6 -10.3 1.7 47

48 FA104042005 Long term 13.0 -40.9 -18.0 78.0 -94.6 -19.3 -38.3 -5.4 48

49 FA103081005 Equity and investment fund shares 259.0 222.4 330.4 -316.8 231.3 247.2 314.8 142.6 49

50 FA103034000 Money market fund shares 19.0 -112.5 68.7 -51.0 108.4 122.2 101.0 -73.5 50

51 FA103064103 Corporate equities -42.1 66.9 -89.9 -40.7 10.2 -136.0 -101.4 -137.3 51

52 FA103064203 Mutual fund shares 12.2 -5.4 7.9 -8.9 5.3 9.9 22.0 -4.4 52

53 FA103092105 U.S. direct investment abroad: equity 269.8 273.4 343.4 -216.3 107.4 251.0 293.1 357.7 53

54 FA103092405 Equity in government-sponsored enterprises (2) 0.1 0.1 0.3 0.1 0.1 0.1 0.2 0.1 54

55 FA103076005 Insurance, pension and standardized guarantee schemes (3) 2.3 6.6 14.0 11.4 15.0 22.0 36.1 33.1 55
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56 FA103096005 Other accounts receivable 812.9 570.9 207.1 939.4 2005.9 -402.9 692.7 1017.7 56

57 FA103070005 Trade receivables 33.4 198.8 163.4 396.3 540.5 -137.0 498.1 181.1 57

58 FA103072005 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 249.8 -206.4 -43.3 58

59 FA103094705 Other investment in finance company subsidiaries 2.2 -13.1 12.5 2.5 -0.6 -3.0 -15.6 -6.2 59

60 FA103093005 Other (miscellaneous assets) 777.2 385.2 31.2 540.7 1466.0 -512.6 416.6 886.1 60

61 FA104194005 Net incurrence of liabilities 1387.0 1178.3 374.0 1004.9 2240.1 381.8 1271.2 855.6 61

62 FA104122005 Debt securities 444.3 316.6 367.7 169.1 316.3 696.0 252.6 80.3 62

63 FA103169100 Open market paper -3.0 1.8 25.9 -10.2 -1.9 -62.3 6.0 59.3 63

64 FA103162000 Municipal securities 13.4 21.4 17.7 -2.4 15.8 5.5 11.3 0.8 64

65 FA103163005 Corporate bonds 433.8 293.4 324.1 181.6 302.5 752.8 235.3 20.2 65

66 FA104135005 Loans 239.6 -30.4 34.0 126.8 310.0 294.1 291.4 694.1 66

67 FA104141005 Short term 103.7 -35.5 70.7 117.8 152.5 336.4 214.8 467.7 67

68 FA103168005 Depository institution loans n.e.c. 111.2 -13.3 -47.3 107.0 24.5 148.4 -83.3 266.2 68

69 FA103169005 Other loans and advances -7.5 -22.2 118.0 10.9 128.0 188.1 298.1 201.5 69

70 FA104142005 Long term 135.9 5.0 -36.7 9.0 157.4 -42.3 76.7 226.4 70

71 FA103165005 Mortgages 95.9 7.3 -28.2 81.9 164.6 23.1 77.8 156.9 71

72 FA103192305 Foreign direct investment in the U.S.: debt 40.0 -2.3 -8.5 -72.9 -7.2 -65.4 -1.1 69.5 72

73 FA103181005 Equity and investment fund shares -30.7 76.1 59.5 -305.3 -71.5 137.0 219.6 -251.1 73

74 FA103164105 Corporate equities -406.3 -337.1 -238.9 -541.2 -302.2 -26.5 -166.3 -515.7 74

75 FA103192105 Foreign direct investment in the U.S.: equity 375.7 413.3 298.4 235.9 230.7 163.5 385.8 264.7 75

76 FA103152025 Insurance, pension and standardized guarantee schemes 74.6 64.7 -47.9 41.2 68.8 -9.2 143.1 54.0 76

77 FA573074005 Pension fund contributions payable 15.2 8.8 19.2 -34.6 -4.6 -2.7 -6.5 -1.3 77

78 FA573073005 Claim of pension fund on sponsor 59.4 55.9 -67.0 75.7 73.4 -6.5 149.6 55.3 78

79 FA103196005 Other accounts payable 659.2 751.2 -39.3 973.2 1616.5 -736.1 364.4 278.3 79

80 FA103170005 Trade payables 24.3 184.2 81.3 320.7 230.1 -155.9 429.8 248.3 80

81 FA103178005 Taxes payable -21.2 -8.1 220.4 -11.3 -7.5 7.7 -25.5 27.6 81

82 FA103193005 Miscellaneous liabilities 656.1 575.0 -341.1 663.8 1393.9 -587.9 -39.8 2.4 82

 Addendum:

83 FA105000005 Net lending (+) or borrowing (-), financial account (lines 35-60) -243.7 -218.0 204.5 -149.6 164.5 50.9 63.4 313.8 83

 Other changes in volume account

84 FV108090105 Total other volume changes -356.4 -370.7 212.1 201.5 -55.3 -127.9 -59.9 190.8 84

85 FV102010005 Disaster losses 0.0 0.0 -19.7 -5.5 0.0 0.0 -24.7 -13.0 85

86 FV108090085 Other volume changes -51.4 -115.1 -136.1 322.1 -159.0 25.1 -120.6 -289.3 86

87 FU107005045 Less: Statistical discrepancy (lines 33-82) (4) 247.0 250.5 -320.3 166.1 -105.4 169.7 171.7 -396.8 87

88 FU105020601 Less: Inventory valuation adjustment 57.9 5.2 -47.6 -51.0 1.7 -16.7 -257.1 -96.2 88

 Revaluation account

89 FR102010005 Nonfinancial assets 455.7 662.9 736.2 185.2 914.3 878.5 2984.5 480.9 89

90 FR105035005 Real estate 580.3 606.3 634.9 71.9 875.3 658.2 2349.3 -72.5 90

91 FR105015205 Equipment -65.5 -28.8 22.8 57.4 13.7 38.4 341.1 339.4 91

92 FR105013765 Intellectual property products -8.1 30.0 63.2 31.8 32.4 142.6 74.3 123.0 92

93 FR105020015 Inventories -51.1 55.4 15.3 24.0 -7.1 39.3 219.9 91.0 93

94 FR108080095 Financial assets -466.7 184.1 1317.3 -1308.4 1526.2 727.6 1676.3 -2418.6 94

95 FR104022005 Debt securities -0.9 -0.7 0.6 -2.4 5.1 2.5 -5.5 -22.0 95

96 FR103092305 Direct investment abroad: debt 3.7 -14.6 8.9 -0.7 -24.2 -6.1 -10.7 41.9 96

97 FR103064103 Corporate equities -11.7 146.1 326.2 -118.7 517.7 361.4 703.1 -611.6 97

98 FR103064203 Mutual fund shares -6.5 13.3 37.0 -22.1 51.2 39.4 46.7 -81.5 98

99 FR103092105 Direct investment abroad: equity -451.7 40.1 944.7 -1164.9 977.4 331.1 942.0 -1749.4 99

100 FR103093005 Other accounts receivable (miscellaneous assets) 0.3 -0.1 -0.1 0.5 -1.0 -0.7 0.8 4.1 100

101 FR104190085 Liabilities -700.4 2097.9 4936.5 -2028.3 8739.9 9412.6 11493.4 -13170.4 101

102 FR103192305 Foreign direct investment in the U.S.: debt 2.0 -38.3 13.2 9.1 -8.7 -5.8 -8.1 0.3 102

103 FR103164105 Corporate equity -572.8 1981.3 4359.8 -1601.7 7703.9 8653.0 9646.2 -11268.7 103

104 FR103192105 Foreign direct investment in the U.S.: equity -173.1 297.3 833.5 -587.6 1479.3 1076.0 2148.5 -2476.3 104

105 FR103152025 Insurance, pension and standardized guarantee schemes 43.6 -142.3 -270.1 151.9 -434.7 -310.5 -293.1 574.4 105

106 FR103193005 Other accounts payable (miscellaneous liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 106

107 FR108200005 Changes in net worth due to nominal holding gains/losses 689.4 -1251.0 -2883.0 905.1 -6299.4 -7806.5 -6832.6 11232.7 107

 Changes in balance sheet account

108 FC102090095 Change in net worth (lines 28+33+83+106) (5) 879.0 -1159.6 -2344.8 1673.1 -5764.3 -7422.2 -6244.0 12067.4 108

 Balance sheet account (end of period)

109 FL102000005 Total assets 37107.9 39302.0 42365.4 43073.2 48870.9 51080.0 57702.1 57572.9 109

110 LM102010005 Nonfinancial assets (6) 20372.0 21426.3 22594.0 23354.9 24821.7 25870.5 29466.8 30572.1 110

111 LM105035005 Real estate 11301.3 12009.7 12724.4 12946.4 14028.4 14686.6 17119.3 17110.9 111
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112 LM105015205 Equipment 4615.9 4734.5 4921.6 5167.6 5323.3 5403.7 5827.3 6282.6 112

113 LM105013765 Intellectual property products 2184.3 2325.0 2496.5 2661.4 2827.4 3107.0 3359.4 3686.9 113

114 LM105020015 Inventories 2270.5 2357.2 2451.5 2579.5 2642.7 2673.1 3160.8 3491.6 114

115 FL104090005 Financial assets 16736.0 17875.7 19771.4 19718.4 24049.2 25209.5 28235.3 27000.8 115

116 FL104000005 Currency and deposits 1103.3 1281.5 1348.3 1494.1 1673.7 2198.6 2499.8 2498.0 116

117 FL103020005 Currency and transferable deposits 837.9 994.8 950.4 1200.7 1341.2 1785.5 2049.8 2010.3 117

118 FL103030003 Time and savings deposits 171.6 189.0 181.3 187.2 201.5 278.1 283.7 297.1 118

119 FL103091003 Foreign deposits 93.9 97.6 216.6 106.3 131.0 135.0 166.3 190.6 119

120 LM104022005 Debt securities 216.4 211.9 243.4 263.2 337.6 377.2 409.6 369.1 120

121 FL103069100 Open market paper 139.4 132.5 123.7 162.1 217.6 250.9 256.3 204.8 121

122 LM103061103 Treasury securities 37.4 41.2 71.3 54.4 63.6 72.9 79.7 91.7 122

123 LM103061703 Agency- and GSE-backed securities (2) 12.5 13.7 23.8 18.1 21.2 24.3 26.6 30.6 123

124 LM103062003 Municipal securities 22.3 19.3 17.2 18.5 24.2 16.3 27.3 23.8 124

125 LM123063003 Corporate and foreign bonds (held by equity REITs) 4.8 5.2 7.3 10.0 11.0 12.9 19.8 18.3 125

126 FL104035005 Loans 390.9 357.7 295.9 309.4 188.7 188.3 146.0 153.5 126

127 FL104041005 Short term 101.7 128.5 75.8 51.1 49.2 72.8 62.5 64.3 127

128 FL102051003 Security repurchases 64.6 90.3 39.6 14.6 13.4 37.0 26.7 28.5 128

129 FL103066005 Consumer credit 37.1 38.2 36.2 36.5 35.8 35.8 35.8 35.8 129

130 FL104042005 Long term 289.2 229.2 220.1 258.3 139.5 115.4 83.5 89.2 130

131 FL103065005 Mortgages 78.1 50.7 65.3 61.5 67.4 81.8 113.2 149.1 131

132 FL103092305 U.S. direct investment abroad: debt 211.1 178.5 154.8 196.8 72.1 33.6 -29.7 -59.9 132

133 FL103081005 Equity and investment fund shares 7295.0 7701.8 9348.2 7757.1 9449.9 10395.5 12383.9 10189.4 133

134 FL103034000 Money market fund shares 576.4 463.8 532.5 481.5 589.9 712.1 813.1 739.5 134

135 LM103064103 Corporate equities 1499.9 1712.9 1949.3 1789.9 2317.7 2543.2 3144.9 2396.0 135

136 LM103064203 Mutual fund shares 248.2 256.0 300.9 269.9 326.4 375.7 444.4 358.5 136

137 LM103092105 U.S. direct investment abroad: equity 4969.7 5268.1 6564.3 5214.6 6214.6 6763.2 7980.0 6693.8 137

138 FL103092405 Equity in government-sponsored enterprises (2) 0.8 0.9 1.2 1.2 1.3 1.4 1.6 1.7 138

139 FL103076005 Insurance, pension and standardized guarantee schemes (3) 345.2 351.7 365.7 377.1 392.1 414.1 450.2 483.3 139

140 FL103096005 Other accounts receivable 7385.3 7971.1 8170.0 9517.4 12007.1 11635.8 12345.7 13307.4 140

141 FL103070005 Trade receivables 2754.2 2953.0 3116.4 3512.7 4053.2 3916.2 4414.3 4595.3 141

142 FL103072005 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 249.8 43.3 0.0 142

143 FL103094705 Other investment in finance company subsidiaries 111.3 98.2 110.7 113.2 112.5 109.5 150.6 144.4 143

144 FL103093005 Other (miscellaneous assets) 4519.8 4919.9 4942.9 5891.6 7841.4 7360.3 7737.5 8567.7 144

145 FL102100085 Total liabilities and net worth 37107.9 39302.0 42365.4 43073.2 48870.9 51080.0 57702.1 57572.9 145

146 FL104194005 Liabilities 47672.4 51026.2 56434.3 55469.0 67031.1 76662.4 89528.5 77331.9 146

147 FL104122005 Debt securities 5818.5 6135.1 6502.8 6671.9 6988.2 7684.2 7932.7 8013.0 147

148 FL103169100 Open market paper 179.0 180.8 206.7 196.5 194.5 132.2 138.2 197.6 148

149 FL103162000 Municipal securities 548.6 570.0 587.7 585.4 601.2 606.7 618.0 618.8 149

150 FL103163005 Corporate bonds 5090.9 5384.3 5708.4 5890.0 6192.5 6945.3 7176.5 7196.6 150

151 FL104135005 Loans 3431.5 3358.1 3543.1 4005.5 4254.9 4543.2 5020.3 5815.6 151

152 FL104141005 Short term 2119.5 2084.1 2292.6 2744.4 2896.9 3233.4 3614.3 4168.2 152

153 FL103168005 Depository institution loans n.e.c. 988.3 975.0 927.7 1034.7 1059.2 1207.5 1123.0 1475.4 153

154 FL103169005 Other loans and advances 1131.3 1109.1 1364.9 1709.7 1837.8 2025.9 2491.3 2692.8 154

155 FL104142005 Long term 1311.9 1274.0 1250.5 1261.1 1358.0 1309.9 1406.0 1647.4 155

156 FL103165005 Mortgages 804.1 806.8 778.6 853.0 965.7 988.8 1094.2 1265.7 156

157 LM103192305 Foreign direct investment in the U.S.: debt 507.9 467.2 471.9 408.2 392.3 321.1 311.9 381.7 157

158 FL103181005 Equity and investment fund shares 28404.8 30777.3 36046.4 33562.5 42648.8 52495.7 64515.6 50602.7 158

159 LM103164105 Corporate equity 24127.2 25771.3 29892.2 27749.3 35151.0 43777.5 53257.4 41472.9 159

160 FL103192105 Foreign direct investment in the U.S.: equity 4277.7 5006.0 6154.2 5813.2 7497.8 8718.2 11258.2 9129.8 160

161 FL103152025 Insurance, pension and standardized guarantee schemes 700.3 682.4 446.0 686.4 494.6 205.7 126.3 789.6 161

162 FL573074005 Pension fund contributions payable 91.3 100.1 119.3 84.7 80.1 77.4 70.9 69.5 162

163 FL573073005 Claim of pension fund on sponsor 609.0 582.3 326.7 601.7 414.5 128.3 55.4 720.0 163

164 FL103196005 Other accounts payable 9317.4 10073.2 9896.0 10542.7 12644.6 11733.5 11933.6 12111.0 164

165 FL103170005 Trade payables 2104.1 2288.3 2369.7 2690.4 2920.5 2764.6 3194.4 3442.7 165

166 FL103178005 Taxes payable 74.2 66.1 286.6 275.3 267.7 275.4 249.8 277.5 166

167 FL103193005 Miscellaneous liabilities 7139.1 7718.7 7239.8 7577.1 9456.4 8693.5 8489.4 8390.9 167

168 FL102090095 Net worth -10564.5 -11724.1 -14068.9 -12395.8 -18160.1 -25582.4 -31826.4 -19759.0 168

(1) 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.

(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 2004:Q4.

(3) Net equity in reserves of property-casualty insurance companies.

(4) 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 transactions, and other statistical differences between the capital and financial accounts.

(5) 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.

(6) Excludes nonproduced nonfinancial assets.
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 Current account

 1 FA796902505 Gross value added 1317.2 1412.2 1456.5 1516.4 1596.9 1656.7 1800.7 1865.5 1

 2 FA796330081 Less: Consumption of fixed capital 192.4 203.2 214.4 226.1 243.0 257.9 275.7 306.6 2

 3 FA796902605 Equals: Net value added 1124.8 1209.0 1242.0 1290.3 1353.9 1398.7 1525.0 1558.8 3

 4 FA796025005 Compensation of employees (paid) 715.7 734.1 787.6 819.1 851.7 912.4 993.6 1026.9 4

 5 FA796020001 Wages and salaries 611.2 625.5 668.5 693.1 727.2 787.5 859.9 886.6 5

 6 FA796401001 Employers’ social contributions 104.5 108.7 119.1 126.0 124.5 125.0 133.7 140.2 6

 7 FA796240101 Taxes on production and imports less subsidies 65.0 72.7 66.5 79.3 69.6 73.6 68.6 81.5 7

 8 FA796402101 Operating surplus, net 344.1 402.1 387.9 391.9 432.6 412.7 462.8 450.5 8

 9 FA796140005 Net national income/Balance of primary incomes, net 239.3 342.5 250.2 302.1 323.0 184.4 197.8 257.0 9

10 FA796402101 Operating surplus, net 344.1 402.1 387.9 391.9 432.6 412.7 462.8 450.5 10

11 FA796150105 Property income (received) 2107.5 2193.9 2413.6 2714.0 2816.2 2347.1 2155.8 2540.8 11

12 FA796130101 Interest 1594.0 1680.5 1830.9 2071.8 2227.1 1763.0 1548.2 1909.2 12

13 FA796121101 Distributed income of corporations (dividends) 462.9 467.4 526.4 681.0 560.0 547.8 550.5 568.6 13

14 FA793092281 Reinvested earnings on U.S. direct investment abroad 50.6 46.0 56.3 -38.8 29.1 36.3 57.2 62.9 14

15 FA796150005 Less: Uses of property income (paid) 2212.4 2253.5 2551.3 2803.8 2925.8 2575.5 2420.8 2734.2 15

16 FA796130001 Interest 1443.8 1506.5 1684.6 1938.9 2045.7 1614.9 1426.5 1777.4 16

17 FA796120005 Distributed income of corporations 754.8 733.8 852.5 847.8 862.4 948.0 962.1 927.8 17

18 FA796121001 Dividends 745.2 691.6 800.3 817.6 829.9 887.0 920.7 887.9 18

19 FA796122001 Withdrawals from income of quasi-corporations (2) 9.6 42.2 52.2 30.3 32.5 61.0 41.4 39.8 19

20 FA793192281 Reinvested earnings on foreign direct investment 13.7 13.2 14.2 17.0 17.8 12.6 32.1 29.1 20

21 FA796112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA796140005 Net national income/Balance of primary incomes, net 239.3 342.5 250.2 302.1 323.0 184.4 197.8 257.0 22

23 FA796220001 Less: Current taxes on income, wealth, etc. (paid) 112.2 114.0 83.3 84.5 100.5 98.9 106.6 125.5 23

24 FA796403005 Less: Other current transfers (paid) 21.6 64.4 19.6 30.1 44.3 32.2 26.4 26.6 24

25 FA796012095 Equals: Disposable income, net 105.5 164.2 147.3 187.5 178.1 53.3 64.8 104.9 25

26 FA796012095 Equals: Net saving 105.5 164.2 147.3 187.5 178.1 53.3 64.8 104.9 26

 Capital account

27 FA796006385 Net saving less capital transfers 105.5 162.4 70.7 170.6 178.1 53.3 42.1 76.6 27

28 FA796012095 Net saving 105.5 164.2 147.3 187.5 178.1 53.3 64.8 104.9 28

29 FA795440005 Less: Capital transfers paid (net) 0.0 1.8 76.6 16.9 0.0 0.0 22.7 28.2 29

30 FA795015085 Capital formation, net 36.2 40.9 33.1 40.6 58.4 27.5 31.4 30.5 30

31 FA795013005 Gross fixed capital formation (nonresidential) 228.7 244.1 247.5 266.7 301.4 285.4 307.1 337.2 31

32 FA796330081 Less: Consumption of fixed capital 192.4 203.2 214.4 226.1 243.0 257.9 275.7 306.6 32

33 FA795000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 69.3 121.5 37.6 130.0 119.7 25.8 10.7 46.1 33

 Financial account

34 FA795000995 Net lending (+) or borrowing (-) (line 33) 69.3 121.5 37.6 130.0 119.7 25.8 10.7 46.1 34

35 FA794090005 Net acquisition of financial assets 1222.1 2028.4 2839.9 1696.8 3456.1 9702.0 7294.9 2410.5 35

36 FA713011203 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 FA794000005 Currency and deposits -601.8 -532.7 271.3 -401.7 80.6 1695.2 606.3 -886.6 37

38 FA794022005 Debt securities 613.5 1157.2 870.2 1022.4 1134.7 6434.6 3157.0 294.5 38

39 FA793069175 Open market paper 9.0 -87.2 92.0 1.3 -10.9 -45.0 15.9 145.6 39

40 FA793061105 Treasury securities 343.8 770.7 133.0 737.2 702.3 4563.0 1335.7 -345.3 40

41 FA793061705 Agency- and GSE-backed securities (3) 11.2 300.2 270.0 -18.1 196.1 1019.2 680.5 72.7 41

42 FA793062005 Municipal securities 48.5 24.3 44.4 -46.5 67.9 117.2 174.9 -94.2 42

43 FA793063005 Corporate and foreign bonds 201.1 149.1 330.8 348.5 179.3 780.2 950.1 515.7 43

44 FA794035005 Loans 818.8 892.6 1323.8 1189.2 1365.7 891.1 2822.8 3218.5 44

45 FA794041005 Short term 444.5 393.3 758.8 598.2 796.0 159.0 1611.1 1943.6 45

46 FA794042005 Long term 374.4 499.4 565.0 591.0 569.7 732.1 1211.7 1274.9 46

47 FA793081005 Equity and investment fund shares 255.1 48.4 93.4 -79.4 -86.5 -171.0 -104.9 -494.0 47

48 FA793064105 Corporate equities 235.2 -172.2 79.6 -142.8 -291.5 -385.1 -80.4 -192.8 48

49 FA793064205 Mutual fund shares -13.8 -82.1 -32.1 -100.9 -52.5 -79.7 -381.5 -146.8 49

50 FA793034005 Money market fund shares -65.2 139.3 14.3 31.3 135.4 170.1 181.5 -220.2 50

51 FA793092405 Equity in government-sponsored enterprises (3) 0.7 1.9 1.4 0.8 -4.0 -7.1 -2.3 18.9 51

52 FA793092105 U.S. direct investment abroad: equity 22.7 52.4 49.1 -3.1 64.5 50.5 82.7 85.9 52

53 FA713164003 Stock in Federal Reserve Banks 0.9 1.0 0.9 0.9 -0.6 0.7 1.5 1.1 53

54 FA793094605 Equity investment in subsidiaries 74.6 108.3 -19.7 134.3 62.2 79.6 93.6 -40.1 54

55 FA793052005 Insurance, pension and standardized guarantee schemes 288.3 401.0 267.0 293.4 324.5 356.9 469.8 271.7 55

56 FA793096005 Other accounts receivable -151.9 61.9 14.2 -327.1 637.1 495.2 343.9 6.4 56
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57 FA794194005 Net incurrence of liabilities 1178.3 1834.1 2841.8 1627.9 3383.4 9631.2 6874.8 1987.0 57

58 FA794100005 Currency and deposits 237.1 459.7 792.8 494.3 866.3 6597.7 1757.6 -980.4 58

59 FA794122005 Debt securities 176.4 284.0 340.7 255.0 462.5 910.3 719.9 1274.9 59

60 FA423161705 Agency- and GSE-backed securities (3) 220.4 351.7 346.6 246.9 318.6 658.2 612.9 979.4 60

61 FA793163005 Corporate bonds -65.1 -37.5 7.2 42.2 70.1 229.1 190.7 89.1 61

62 FA793169175 Commercial paper 21.1 -30.2 -13.1 -34.1 73.8 23.0 -83.8 206.4 62

63 FA794135005 Loans 18.4 176.2 56.0 -16.6 144.3 -149.1 1847.9 1022.9 63

64 FA794141005 Short term 1.2 69.1 55.3 17.7 157.4 -154.0 1847.1 1064.1 64

65 FA793192305 Long term 17.1 107.1 0.7 -34.3 -13.1 4.9 0.8 -41.2 65

66 FA793181005 Equity and investment fund shares 435.7 237.3 882.9 509.3 1180.0 1207.9 1509.1 -226.4 66

67 FA634090005 Money market fund shares 5.2 -123.0 165.3 169.2 712.8 763.5 439.5 17.6 67

68 FA793164105 Corporate equity issues 200.4 243.2 381.2 180.2 153.6 469.5 811.3 506.9 68

69 FA653164205 Mutual fund shares 98.7 28.4 317.7 -64.0 208.2 -228.9 216.4 -800.0 69

70 FA403192405 Equity in government-sponsored enterprises (3) 1.3 2.7 4.2 1.1 -3.7 -6.8 -0.9 20.0 70

71 FA793192105 Foreign direct investment in the U.S.: equity 49.2 -40.7 32.2 78.1 42.3 9.5 24.6 70.3 71

72 FA662090003 Equity in noncorporate business 5.3 17.3 1.0 9.5 5.2 6.9 15.8 3.7 72

73 FA793194605 Equity investment by parent 74.6 108.3 -19.7 134.3 62.2 79.6 93.6 -40.1 73

74 FA713164005 Equity in Federal Reserve Banks 0.9 1.0 0.9 0.9 -0.6 2.2 0.0 1.1 74

75 FA503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 112.5 -91.2 -5.9 75

76 FA583152005 Insurance, pension and standardized guarantee schemes 497.8 501.0 626.5 441.6 530.0 636.7 458.9 739.9 76

77 FA793196005 Other accounts payable -187.1 176.0 142.9 -55.7 200.3 427.7 581.4 156.0 77

 Addendum:

78 FA795000005 Net lending (+) or borrowing (-), financial account (lines 35-57) 43.8 194.3 -2.0 68.9 72.7 70.8 420.2 423.5 78

 Other changes in volume account

79 FV798090185 Total other volume changes 208.2 259.0 -6.8 108.9 -206.4 242.9 614.0 804.5 79

80 FV795013865 Disaster losses 0.0 0.0 -1.8 -2.4 0.0 0.0 -0.4 -1.5 80

81 FV798090085 Other volume changes 233.7 186.1 34.6 172.5 -159.4 197.9 205.0 428.7 81

82 FU797005045 Less: Statistical discrepancy (lines 33-78) (4) 25.5 -72.8 39.6 61.2 47.0 -45.0 -409.4 -377.3 82

 Revaluation account

83 FR795013865 Nonfinancial assets 11.0 10.2 22.8 50.7 33.6 22.1 220.2 259.0 83

84 FR795013665 Structures (nonresidential) 16.7 14.4 24.4 49.1 36.7 17.4 175.0 210.0 84

85 FR795013265 Equipment -3.9 -2.8 -0.7 4.5 -0.3 5.2 46.6 42.1 85

86 FR795013765 Intellectual property products -1.8 -1.5 -0.9 -3.0 -2.8 -0.5 -1.3 6.9 86

87 FR794090085 Financial assets -1011.8 1198.7 3823.5 -2697.7 6183.5 4526.0 4345.4 -11344.7 87

88 FR794022005 Debt securities -492.7 -40.3 212.1 -637.9 1296.8 847.8 -1001.6 -4599.1 88

89 FR793092305 U.S. direct investment abroad: debt 0.7 -2.5 1.5 -0.1 -4.4 -1.2 -2.3 8.9 89

90 FR793064105 Corporate equities -458.5 1175.0 3385.2 -1815.1 4618.4 3605.3 5040.3 -5986.0 90

91 FR793064205 Mutual fund shares -120.9 341.7 767.9 -402.0 1054.5 811.4 948.6 -1398.6 91

92 FR793092105 U.S. direct investment abroad: equity -88.0 7.7 160.8 -199.5 197.6 76.5 215.3 -389.4 92

93 FR593052025 Insurance, pension, and standardized guarantee schemes 147.6 -282.8 -704.0 356.8 -979.4 -813.8 -854.8 1019.6 93

94 FR794190085 Liabilities -768.2 1858.9 4484.3 -2766.4 6437.3 4118.0 7062.6 -9120.9 94

95 FR793192305 Foreign direct investment in the U.S.: debt 0.4 -8.9 6.0 4.2 -4.1 -2.7 -4.4 -0.3 95

96 FR793164105 Corporate equity issues -214.2 663.0 1311.5 -954.2 1796.2 503.3 2810.3 -2305.8 96

97 FR653164205 Mutual fund shares -352.1 689.9 1965.7 -1165.2 2781.5 2132.0 2429.8 -4075.4 97

98 FR793192105 Foreign direct investment in the U.S.: equity -38.7 38.3 123.5 -119.6 265.8 210.3 315.4 -510.8 98

99 FR662090003 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 99

100 FR793194605 Equity investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100

101 FR583152005 Insurance, pension and standardized guarantee schemes -163.5 476.6 1077.6 -531.6 1597.9 1275.1 1511.5 -2228.5 101

102 FR798200005 Changes in net worth due to nominal holding gains/losses -232.6 -650.0 -638.0 119.3 -220.2 430.1 -2497.0 -1964.8 102

 Changes in balance sheet account

103 FC792090095 Change in net worth (lines 30+33+79+102) 81.1 -228.7 -574.1 398.8 -248.4 726.2 -1840.9 -1083.6 103

 Balance sheet account (end of period)

104 FL792000095 Total assets 91109.8 94550.1 101328.9 100629.5 110503.0 124951.5 137838.1 127525.7 104

105 LM795013865 Nonfinancial assets (5) 1651.6 1702.6 1756.7 1845.5 1937.6 1987.2 2238.4 2526.4 105

106 LM795013665 Structures (nonresidential) 913.4 925.1 945.4 992.2 1033.2 1052.4 1222.1 1421.1 106

107 LM795013265 Equipment 567.3 591.9 609.4 635.4 659.1 662.6 708.5 748.2 107

108 LM795013765 Intellectual property products 170.9 185.6 201.9 217.9 245.3 272.2 307.8 357.2 108
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Billions of dollars

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109 FL794090005 Financial assets 89458.2 92847.5 99572.2 98784.0 108565.4 122964.3 135599.7 124999.3 109

110 FL713011203 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 110

111 FL794000005 Currency and deposits 3569.3 3047.4 3351.3 2949.2 3016.7 4713.4 5350.8 4462.4 111

112 FL794022005 Debt securities 23764.6 24887.8 25963.7 26348.3 28884.6 36112.3 38296.9 34016.2 112

113 FL793069175 Open market paper 614.6 527.8 618.8 620.6 613.2 511.2 576.1 746.4 113

114 FL793061105 Treasury securities 7404.5 8110.5 8257.1 8948.5 9876.0 14734.0 15721.9 13930.7 114

115 FL793061705 Agency- and GSE-backed securities (3) 6478.9 6717.3 7001.0 6910.0 7335.5 8416.1 8886.1 7922.6 115

116 FL793062005 Municipal securities 2033.7 2021.9 2096.5 2009.7 2146.2 2316.5 2470.4 2096.9 116

117 FL793063005 Corporate and foreign bonds 7233.0 7510.3 7990.3 7859.5 8913.7 10134.5 10642.5 9319.7 117

118 FL794035005 Loans 23394.9 24253.5 25632.7 26798.3 28140.2 29026.1 32410.0 35633.9 118

119 FL794041005 Short term 10041.7 10434.9 11274.6 11876.4 12671.3 12835.1 14757.9 16787.7 119

120 FL794042005 Long term 13353.2 13818.6 14358.1 14922.0 15468.9 16191.0 17652.1 18846.2 120

121 FL793081005 Equity and investment fund shares 24907.4 26436.2 30810.5 28334.0 33706.0 38015.8 44118.5 35823.3 121

122 LM793064105 Corporate equities 16226.4 17229.2 20694.0 18736.1 22751.4 25946.6 30896.5 24717.7 122

123 LM793064205 Mutual fund shares 4980.4 5239.9 5975.7 5472.7 6327.8 7059.5 7626.6 6081.1 123

124 FL793034005 Money market fund shares 566.4 705.6 719.9 751.2 886.6 1056.7 1238.2 1018.0 124

125 FL793092405 Equity in government-sponsored enterprises (3) 34.4 36.3 37.7 38.5 34.5 27.4 25.1 44.0 125

126 LM793092105 U.S. direct investment abroad: equity 842.7 917.7 1119.5 924.4 1271.4 1430.6 1746.8 1383.2 126

127 FL713164003 Stock in Federal Reserve Banks 29.5 30.4 31.4 32.3 31.7 32.4 33.9 35.0 127

128 FL793094605 Equity investment in subsidiaries 2227.8 2277.0 2232.5 2378.7 2402.7 2462.7 2551.4 2544.3 128

129 FL793052005 Insurance, pension and standardized guarantee schemes 8075.8 8292.7 7967.4 8714.9 8262.0 7900.7 7588.2 6804.9 129

130 FL793096005 Other accounts receivable 5735.2 5918.8 5835.4 5628.4 6544.9 7185.0 7824.3 8247.5 130

131 FL792100005 Total liabilities and net worth 91109.8 94550.1 101328.9 100629.5 110503.0 124951.5 137838.1 127525.7 131

132 FL794194005 Liabilities 90657.9 94327.0 101679.9 100581.7 110703.5 124425.8 139153.3 129924.5 132

133 FL794100005 Currency and deposits 16941.5 17401.2 18194.0 18688.4 19554.6 26152.3 27909.9 26919.5 133

134 FL794122005 Debt securities 12512.1 12668.3 12972.5 13212.2 13667.8 14572.1 15605.6 16879.5 134

135 FL423161705 Agency- and GSE-backed securities (3) 8144.4 8496.1 8842.7 9089.6 9408.3 10066.5 10679.4 11658.8 135

136 FL793163005 Corporate bonds 3811.4 3646.1 3616.9 3643.8 3707.0 3930.0 4434.4 4522.5 136

137 FL793169175 Commercial paper 556.3 526.0 512.9 478.8 552.6 575.6 491.8 698.3 137

138 FL794135005 Loans 4828.3 4995.6 5057.6 5045.1 5185.3 5033.5 6981.6 8004.2 138

139 FL794141005 Short term 4717.1 4786.1 4841.4 4859.1 5016.5 4862.5 6814.2 7878.3 139

140 FL793192305 Long term 111.3 209.5 216.2 186.1 168.8 171.0 167.4 126.0 140

141 FL793181005 Equity and investment fund shares 25518.0 27067.0 31312.8 29552.1 35561.2 39618.0 46670.5 39499.6 141

142 FL634090005 Money market fund shares 3078.2 2955.2 3120.5 3289.7 4002.5 4765.9 5205.5 5223.1 142

143 LM793164105 Corporate equity issues 6373.4 7279.6 8972.3 8198.4 10148.2 11121.0 14742.5 12943.6 143

144 LM653164205 Mutual fund shares 12897.2 13615.6 15899.0 14669.8 17659.5 19562.6 22208.8 17333.4 144

145 FL403192405 Equity in government-sponsored enterprises (3) 44.2 46.9 51.1 52.2 48.6 41.8 40.9 60.8 145

146 LM793192105 Foreign direct investment in the U.S.: equity 817.4 794.4 937.2 852.7 1184.7 1427.4 1760.3 1234.3 146

147 LM662090003 Equity in noncorporate business 50.4 67.7 68.7 78.2 83.5 90.3 106.1 109.8 147

148 FL793194605 Equity investment by parent 2227.8 2277.0 2232.5 2378.7 2402.7 2462.7 2551.4 2544.3 148

149 FL713164005 Equity in Federal Reserve Banks 29.5 30.4 31.4 32.3 31.7 33.9 33.9 35.0 149

150 FL503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 112.5 21.3 15.4 150

151 FL583152005 Insurance, pension and standardized guarantee schemes 27529.9 28623.6 30439.5 30446.8 32847.7 34850.0 36925.6 33404.4 151

152 FL793196005 Other accounts payable 3328.1 3571.3 3703.4 3637.1 3886.8 4199.9 5060.1 5217.4 152

153 FL792090095 Net worth 451.8 223.1 -351.0 47.9 -200.5 525.7 -1315.2 -2398.8 153

(1) Financial business includes depository institutions, insurance companies, 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.

(2) 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.

(3) 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 2004:Q4.

(4) 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 transactions, and other statistical differences between the capital and financial accounts.

(5) Excludes land. Includes corporate and noncorporate financial business.
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2015 2016 2017 2018 2019 2020 2021 2022

 

 Current account

 1 FA716902505 Gross value added 5.0 6.1 7.0 7.1 7.4 7.8 8.3 8.3 1

 2 FA716330085 Less: Consumption of fixed capital 0.8 0.8 0.8 0.9 0.9 0.9 1.0 1.1 2

 3 FA716902605 Equals: Net value added 4.3 5.3 6.2 6.3 6.5 6.9 7.3 7.2 3

 4 FA716025005 Compensation of employees (paid) 2.3 2.5 2.7 2.8 3.0 3.1 3.3 3.3 4

 5 FA716020001 Wages and salaries 2.1 2.2 2.3 2.5 2.6 2.8 3.0 3.0 5

 6 FA716401001 Employers’ social contributions 0.3 0.3 0.3 0.3 0.4 0.3 0.4 0.4 6

 7 FA716240101 Taxes on production and imports less subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA716402101 Operating surplus, net 1.9 2.7 3.5 3.5 3.6 3.8 4.0 3.8 8

 9 FA716140005 Net national income/Balance of primary incomes, net -15.5 2.5 -0.3 -0.6 2.4 1.5 2.4 -14.4 9

10 FA716402101 Operating surplus, net 1.9 2.7 3.5 3.5 3.6 3.8 4.0 3.8 10

11 FA716150105 Property income (received) 113.6 111.1 113.6 112.3 102.7 101.5 122.6 170.1 11

12 FA716130101 Interest 113.6 111.1 113.6 112.3 102.7 101.5 122.6 170.1 12

13 FA716121101 Distributed income of corporations (dividends) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 FA713092281 Reinvested earnings on U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 FA716150005 Less: Uses of property income (paid) 131.1 111.3 117.4 116.3 103.9 103.8 124.1 188.4 15

16 FA716130001 Interest 12.2 19.1 36.1 50.0 48.3 16.5 14.5 111.1 16

17 FA716120005 Distributed income of corporations 118.8 92.2 81.3 66.3 55.6 87.3 109.6 77.2 17

18 FA716121001 Dividends 118.8 92.2 81.3 66.3 55.6 87.3 109.6 77.2 18

19 FA716122001 Withdrawals from income of quasi-corporations (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA713192281 Reinvested earnings on foreign direct investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 FA716112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA716140005 Net national income/Balance of primary incomes, net -15.5 2.5 -0.3 -0.6 2.4 1.5 2.4 -14.4 22

23 FA716220001 Less: Current taxes on income, wealth, etc. (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 FA716403001 Less: Other current transfers (paid) 1.9 2.0 2.0 2.0 2.2 2.3 2.6 2.8 24

25 FA716012005 Equals: Disposable income, net -17.4 0.5 -2.4 -2.6 0.2 -0.8 -0.2 -17.2 25

26 FA716012005 Equals: Net saving -17.4 0.5 -2.4 -2.6 0.2 -0.8 -0.2 -17.2 26

 Capital account

27 FA716006385 Net saving less capital transfers -17.4 0.5 -2.4 -2.6 0.2 -0.8 -0.2 -17.2 27

28 FA716012005 Net saving -17.4 0.5 -2.4 -2.6 0.2 -0.8 -0.2 -17.2 28

29 FA715440083 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 FA715015085 Capital formation, net -0.1 -0.1 0.0 -0.1 -0.1 0.0 0.1 0.1 30

31 FA715013085 Gross fixed capital formation (nonresidential) 0.7 0.7 0.8 0.7 0.8 0.9 1.1 1.2 31

32 FA716330085 Less: Consumption of fixed capital 0.8 0.8 0.8 0.9 0.9 0.9 1.0 1.1 32

33 FA715000995 Net lending (+) or borrowing (-), capital account (lines 27-30) -17.3 0.6 -2.4 -2.5 0.3 -0.8 -0.3 -17.3 33

 Financial account

34 FA715000995 Net lending (+) or borrowing (-) (line 33) -17.3 0.6 -2.4 -2.5 0.3 -0.8 -0.3 -17.3 34

35 FA714090005 Net acquisition of financial assets -11.4 -31.1 -2.6 -389.8 116.4 3084.6 1479.7 -199.8 35

36 FA713011203 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 FA714000005 Currency and deposits 1.9 0.1 0.8 0.5 0.5 0.5 0.3 0.6 37

38 FA714022005 Debt securities -10.4 -35.8 -10.9 -379.5 -137.5 3217.0 1537.1 -175.9 38

39 FA713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 FA713061103 Treasury securities -15.6 -13.3 -21.7 -243.3 99.1 2554.3 961.6 -188.2 40

41 FA713061705 Agency- and GSE-backed securities (2) 5.1 -22.5 10.8 -136.2 -236.6 662.7 575.5 12.3 41

42 FA714041005 Loans (short term) -0.6 4.5 6.6 -7.9 255.1 -143.7 -56.9 -26.4 42

43 FA713064103 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

44 FA713096105 Other accounts receivable -2.3 0.1 0.9 -3.0 -1.7 10.8 -0.8 1.9 44

45 FA714194005 Net incurrence of liabilities 7.1 -31.1 -2.6 -386.6 116.4 3084.7 1479.7 -199.7 45

46 FA714100005 Currency and deposits -197.9 -45.6 157.7 -128.7 83.9 3200.3 -487.5 -884.1 46

47 FA712151003 Loans 202.6 12.8 -161.3 -259.9 32.6 -120.6 1967.0 706.5 47

48 FA713164005 Equity shares 0.9 1.0 0.9 0.9 -0.6 2.2 0.0 1.1 48

49 FA713193005 Other accounts payable 1.5 0.6 -0.0 1.1 0.5 2.8 0.3 -23.2 49

 Addendum:

50 FA715000005 Net lending (+) or borrowing (-), financial account (lines 35-45) -18.5 0.0 -0.0 -3.2 0.0 -0.1 -0.1 -0.1 50
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 Other changes in volume account

51 FV718090185 Total other volume changes -1.3 -0.6 2.4 -0.7 -0.3 0.8 0.3 17.2 51

52 FV712010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

53 FV718090085 Other volume changes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 FU717005045 Less: Statistical discrepancy (lines 33-50) (3) 1.3 0.6 -2.4 0.7 0.3 -0.8 -0.3 -17.2 54

 Revaluation account

55 FR712010095 Nonfinancial assets 0.1 0.1 0.2 0.4 0.3 0.2 1.5 1.8 55

56 FR715013665 Structures (nonresidential) 0.2 0.1 0.2 0.4 0.3 0.2 1.4 1.7 56

57 FR715013265 Equipment -0.0 -0.0 0.0 0.0 -0.0 0.0 0.1 0.1 57

58 FR715013765 Intellectual property products -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 58

59 FR714022005 Financial assets (debt securities) -67.6 -39.9 13.6 -86.3 166.8 193.4 -226.1 -1208.2 59

60 FR718200005 Changes in net worth due to nominal holding gains/losses -67.4 -39.8 13.8 -85.9 167.0 193.6 -224.7 -1206.4 60

 Changes in balance sheet account

61 FC712090095 Change in net worth (lines 30+33+51+60) -86.1 -39.8 13.8 -89.1 167.0 193.6 -224.6 -1206.4 61

 Balance sheet account (end of period)

62 FL712000095 Total assets 4642.3 4571.3 4582.5 4106.7 4390.1 7668.3 8923.4 7517.4 62

63 LM712010095 Nonfinancial assets (4) 10.2 10.3 10.5 10.8 11.0 11.2 12.8 14.7 63

64 LM715013665 Structures (nonresidential) 8.0 8.0 8.1 8.4 8.6 8.6 10.0 11.6 64

65 LM715013265 Equipment 1.4 1.4 1.3 1.3 1.2 1.2 1.2 1.3 65

66 LM715013765 Intellectual property products 0.9 0.9 1.1 1.1 1.2 1.3 1.5 1.8 66

67 FL714090005 Financial assets 4632.0 4561.0 4572.0 4095.9 4379.1 7657.1 8910.6 7502.7 67

68 FL713011203 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 68

69 FL714000005 Currency and deposits 67.0 67.1 69.6 69.7 70.0 71.9 70.5 69.3 69

70 LM714022005 Debt securities 4521.3 4445.6 4448.3 3982.6 4011.9 7422.2 8733.2 7349.1 70

71 FL713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 71

72 LM713061103 Treasury securities 2675.9 2640.7 2633.0 2338.0 2540.7 5254.6 6052.1 5056.4 72

73 LM713061705 Agency- and GSE-backed securities (2) 1845.4 1804.9 1815.3 1644.6 1471.1 2167.7 2681.1 2292.7 73

74 FL714041005 Loans (short term) 1.1 5.6 12.2 4.3 259.4 115.7 58.8 32.4 74

75 FL713064103 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 75

76 FL713096105 Other accounts receivable 31.5 31.7 30.9 28.3 26.9 36.3 37.2 40.9 76

77 FL712100005 Total liabilities and net worth 4642.3 4571.3 4582.5 4106.7 4390.1 7668.3 8923.4 7517.4 77

78 FL714194005 Liabilities 4520.5 4489.4 4486.8 4100.2 4216.6 7301.3 8781.0 8581.3 78

79 FL714100005 Currency and deposits 3772.2 3726.6 3884.3 3755.6 3839.5 7039.8 6552.3 5668.1 79

80 FL712151003 Loans 712.4 725.2 564.0 304.0 336.6 216.1 2183.0 2889.6 80

81 FL713164005 Equity shares 29.5 30.4 31.4 32.3 31.7 33.9 33.9 35.0 81

82 FL713193005 Other accounts payable 6.5 7.2 7.1 8.2 8.7 11.5 11.8 -11.4 82

83 FL712090095 Net worth 121.7 81.9 95.7 6.5 173.5 367.0 142.4 -1063.9 83

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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S.62.a Private Depository Institutions

Billions of dollars

2015 2016 2017 2018 2019 2020 2021 2022

 

 Current account

 1 FA706902505 Gross value added 361.2 397.7 474.6 516.4 497.0 507.8 551.0 640.2 1

 2 FA706330081 Less: Consumption of fixed capital 34.4 36.5 39.1 42.7 49.3 55.1 58.9 65.8 2

 3 FA706902605 Equals: Net value added 326.8 361.2 435.5 473.7 447.7 452.7 492.1 574.4 3

 4 FA706025005 Compensation of employees (paid) 180.3 181.8 183.1 208.3 211.0 226.6 240.6 230.4 4

 5 FA706020001 Wages and salaries 153.9 155.1 155.9 176.8 180.7 196.2 208.8 198.8 5

 6 FA706401001 Employers’ social contributions 26.4 26.7 27.2 31.5 30.3 30.4 31.8 31.6 6

 7 FA706240101 Taxes on production and imports less subsidies 10.0 10.7 11.3 11.6 12.2 10.0 10.9 12.9 7

 8 FA706402101 Operating surplus, net 136.5 168.7 241.1 253.8 224.5 216.1 240.6 331.1 8

 9 FA706140005 Net national income/Balance of primary incomes, net 123.3 142.5 184.7 125.9 85.0 173.1 107.5 110.9 9

10 FA706402101 Operating surplus, net 136.5 168.7 241.1 253.8 224.5 216.1 240.6 331.1 10

11 FA706150105 Property income (received) 268.9 278.8 307.9 346.8 400.1 316.9 250.8 248.7 11

12 FA706130101 Interest 252.0 264.6 291.2 354.2 390.5 306.8 236.3 231.9 12

13 FA706121101 Distributed income of corporations (dividends) 3.0 2.0 2.1 2.7 2.4 1.6 1.4 2.2 13

14 FA703092281 Reinvested earnings on U.S. direct investment abroad 13.9 12.2 14.6 -10.1 7.2 8.5 13.1 14.6 14

15 FA706150005 Less: Uses of property income (paid) 282.1 305.0 364.3 474.7 539.6 359.9 383.9 468.9 15

16 FA706130001 Interest 173.3 198.2 238.4 305.0 352.3 272.9 220.4 321.3 16

17 FA706120005 Distributed income of corporations 104.4 102.7 121.5 164.3 181.9 83.5 155.2 140.2 17

18 FA706121001 Dividends 104.3 102.6 121.4 164.2 181.7 83.3 155.0 140.0 18

19 FA706122001 Withdrawals from income of quasi-corporations (1) 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 19

20 FA703192281 Reinvested earnings on foreign direct investment 4.4 4.1 4.4 5.4 5.4 3.5 8.3 7.4 20

21 FA706112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA706140005 Net national income/Balance of primary incomes, net 123.3 142.5 184.7 125.9 85.0 173.1 107.5 110.9 22

23 FA706220001 Less: Current taxes on income, wealth, etc. (paid) 36.0 34.9 22.9 24.0 29.4 30.1 27.3 32.6 23

24 FA706403001 Less: Other current transfers (paid) 7.3 8.1 8.6 9.1 9.7 9.4 9.9 10.6 24

25 FA706012005 Equals: Disposable income, net 80.0 99.5 153.2 92.8 45.9 133.6 70.3 67.7 25

26 FA706012005 Equals: Net saving 80.0 99.5 153.2 92.8 45.9 133.6 70.3 67.7 26

 Capital account

27 FA706006385 Net saving less capital transfers 80.0 99.5 148.6 92.8 45.9 133.6 70.3 65.7 27

28 FA706012005 Net saving 80.0 99.5 153.2 92.8 45.9 133.6 70.3 67.7 28

29 FA705440083 Less: Capital transfers paid (net) 0.0 0.0 4.6 0.0 0.0 0.0 0.0 2.0 29

30 FA705015085 Capital formation, net 3.3 5.6 7.8 11.6 27.0 12.4 7.4 8.5 30

31 FA705013081 Gross fixed capital formation (nonresidential) 37.6 42.1 46.9 54.4 76.3 67.5 66.3 74.3 31

32 FA706330081 Less: Consumption of fixed capital 34.4 36.5 39.1 42.7 49.3 55.1 58.9 65.8 32

33 FA705000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 76.8 93.9 140.8 81.1 18.9 121.2 62.9 57.2 33

 Financial account

34 FA705000995 Net lending (+) or borrowing (-) (line 33) 76.8 93.9 140.8 81.1 18.9 121.2 62.9 57.2 34

35 FA704090005 Net acquisition of financial assets 538.1 713.9 865.7 416.9 773.4 3230.3 2371.7 655.9 35

36 FA704000005 Currency and deposits -389.6 -209.7 195.7 -388.4 -2.9 1466.8 639.6 -967.2 36

37 FA703025005 Vault cash -1.5 1.8 1.2 4.9 1.4 15.8 -8.7 -3.8 37

38 FA713113003 Reserves at the Federal Reserve -387.6 -211.0 194.8 -393.1 -7.1 1446.1 649.3 -959.5 38

39 FA403197033 Deposits at Federal Home Loan Banks -0.5 -0.4 -0.3 -0.2 2.8 4.9 -1.0 -3.9 39

40 FA704022005 Debt securities 203.0 293.6 133.7 117.3 218.3 1092.5 1336.9 -11.3 40

41 FA703069175 Open market paper 0.0 0.0 -0.0 0.2 0.5 1.6 -2.1 -0.2 41

42 FA703061105 Treasury securities 37.9 121.9 -37.3 124.3 126.7 303.2 467.4 58.8 42

43 FA703061705 Agency- and GSE-backed securities (2) 140.5 144.4 168.1 52.4 115.1 694.0 605.9 -229.9 43

44 FA703062005 Municipal securities 45.3 47.2 20.4 -40.0 -29.1 72.3 55.3 4.8 44

45 FA703063005 Corporate and foreign bonds -20.7 -19.9 -17.5 -19.5 5.1 21.5 210.3 155.2 45

46 FA704035005 Loans 694.3 590.5 521.4 783.1 493.6 491.8 248.2 1421.1 46

47 FA704041005 Short term 441.4 294.4 306.7 610.7 283.4 405.6 38.2 800.9 47

48 FA704042005 Long term 252.8 296.1 214.7 172.4 210.2 86.1 210.0 620.2 48

49 FA703081005 Equity and investment fund shares -6.6 -6.7 14.1 -0.3 8.1 0.1 15.1 31.3 49

50 FA703064105 Corporate equities 2.0 -6.9 -2.0 2.5 0.8 2.9 2.4 -1.9 50

51 FA703064205 Mutual fund shares -1.0 -1.9 0.2 -3.1 1.4 2.4 3.6 -3.8 51

52 FA703092405 Equity in government-sponsored enterprises (2) -0.9 2.0 1.4 0.5 -4.6 -9.7 -3.4 20.2 52

53 FA763092100 U.S. direct investment abroad: equity -7.5 -0.9 13.6 -1.1 11.1 3.8 11.1 15.6 53

54 FA713164003 Stock in Federal Reserve Banks 0.9 1.0 0.9 0.9 -0.6 0.7 1.5 1.1 54

55 FA763040005 Insurance, pension and standardized guarantee schemes 6.6 5.6 6.4 3.9 6.7 6.1 13.3 6.5 55

56 FA703096105 Other accounts receivable 30.4 40.5 -5.6 -98.7 49.6 173.0 118.5 175.5 56

57 FA704194005 Net incurrence of liabilities 535.7 652.5 821.3 611.6 891.9 3189.1 2142.7 456.0 57
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58 FA704100005 Currency and deposits 432.7 499.0 623.4 620.2 773.5 3369.3 2205.6 -110.6 58

59 FA703127005 Checkable deposits 102.5 106.6 183.6 55.9 182.6 2534.6 1359.4 336.8 59

60 FA703130205 Other deposits 330.2 392.5 439.8 564.3 590.9 834.7 846.2 -447.4 60

61 FA704122005 Debt securities 52.1 -55.3 -40.4 -47.7 60.8 103.1 -136.6 212.1 61

62 FA763163005 Corporate bonds 19.3 -33.6 -24.6 -18.0 20.9 54.8 -64.8 77.9 62

63 FA703169175 Commercial paper 32.7 -21.6 -15.8 -29.7 39.8 48.4 -71.8 134.1 63

64 FA704135005 Loans 34.9 107.5 112.3 -86.8 -31.4 -201.2 -139.4 421.8 64

65 FA704141005 Short term 35.7 102.2 115.3 -82.6 -27.5 -198.3 -137.0 422.0 65

66 FA753192305 Long term (foreign direct investment in the U.S.: debt) -0.8 5.3 -3.0 -4.3 -3.9 -2.9 -2.4 -0.2 66

67 FA703181105 Equity and investment fund shares 64.7 73.0 70.6 114.7 89.8 89.7 140.3 -111.0 67

68 FA763164103 Corporate equity issues 6.8 -5.0 2.8 -5.2 1.4 1.9 2.3 17.3 68

69 FA753192103 Foreign direct investment in the U.S.: equity 1.2 5.6 10.3 12.8 5.5 8.5 -2.0 10.4 69

70 FA703194605 Equity investment by parent 56.6 72.3 57.5 107.1 83.0 79.4 140.0 -138.7 70

71 FA703196005 Other accounts payable -48.6 28.2 55.4 11.2 -0.7 -171.8 72.7 43.7 71

 Addendum:

72 FA705000005 Net lending (+) or borrowing (-), financial account (lines 35-57) 2.4 61.4 44.4 -194.6 -118.5 41.2 229.1 199.9 72

 Other changes in volume account

73 FV708090185 Total other volume changes -72.6 -50.5 -142.3 -228.1 -213.9 -22.3 56.3 273.9 73

74 FV702010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 74

75 FV708090085 Other volume changes 1.7 -18.0 -45.9 47.7 -76.4 57.7 -109.9 131.2 75

76 FU707005045 Less: Statistical discrepancy (lines 33-72) (3) 74.4 32.5 96.4 275.8 137.4 80.0 -166.2 -142.7 76

 Revaluation account

77 FR702010095 Nonfinancial assets 3.2 2.8 6.8 14.7 9.4 5.4 61.2 76.0 77

78 FR705013665 Structures (nonresidential) 5.0 4.2 6.9 14.8 11.2 5.5 55.2 67.6 78

79 FR705013265 Equipment -1.4 -1.0 0.3 0.6 -1.0 0.4 6.7 7.3 79

80 FR705013765 Intellectual property products -0.4 -0.4 -0.4 -0.8 -0.8 -0.6 -0.7 1.1 80

81 FR704090085 Financial assets -63.7 -25.6 60.8 -104.2 173.5 113.3 -92.0 -785.1 81

82 FR704022005 Debt securities -37.2 -29.1 13.2 -47.6 118.8 92.3 -148.7 -690.5 82

83 FR763092305 U.S. direct investment abroad: debt 0.2 -0.7 0.4 -0.0 -1.1 -0.3 -0.5 2.1 83

84 FR703064105 Corporate equities -2.2 2.5 4.6 -3.7 7.0 1.7 8.0 -6.4 84

85 FR703064205 Mutual fund shares -0.5 0.3 0.4 -0.6 1.6 2.6 2.1 -4.0 85

86 FR763092100 U.S. direct investment abroad: equity -24.0 1.4 42.3 -52.3 47.1 16.9 47.0 -86.3 86

87 FR704190085 Liabilities -28.1 220.4 235.4 -274.5 436.4 -193.8 465.5 -452.0 87

88 FR753192305 Foreign direct investment in the U.S.: debt 0.1 -2.3 0.9 0.6 -0.6 -0.3 -0.5 -0.0 88

89 FR763164103 Corporate equity issues -5.0 205.8 199.5 -245.3 377.1 -242.3 404.9 -334.6 89

90 FR753192103 Foreign direct investment in the U.S.: equity -23.2 17.0 35.0 -29.8 59.9 48.8 61.2 -117.5 90

91 FR703194605 Equity investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 91

92 FR708200005 Changes in net worth due to nominal holding gains/losses -32.4 -243.2 -167.7 185.0 -253.6 312.4 -496.3 -257.1 92

 Changes in balance sheet account

93 FC702090095 Change in net worth (lines 30+33+73+92) -25.0 -194.2 -161.5 49.6 -421.5 423.7 -369.7 82.6 93

 Balance sheet account (end of period)

94 FL702000095 Total assets 17712.1 18403.9 19293.2 19684.4 20594.1 24008.2 26238.4 26303.3 94

95 LM702010095 Nonfinancial assets (4) 397.5 412.0 432.4 463.5 505.1 526.5 599.3 688.5 95

96 LM705013665 Structures (nonresidential) 279.5 284.1 291.8 308.6 325.8 334.8 389.9 455.6 96

97 LM705013265 Equipment 86.9 90.5 96.4 103.4 114.4 121.0 132.1 144.9 97

98 LM705013765 Intellectual property products 31.1 37.5 44.1 51.5 64.8 70.8 77.3 87.9 98

99 FL704090005 Financial assets 17314.6 17991.8 18860.8 19220.9 20089.0 23481.7 25639.1 25614.8 99

100 FL704000005 Currency and deposits 2047.9 1838.3 2034.0 1645.6 1642.7 3109.5 3749.1 2781.9 100

101 FL703025005 Vault cash 74.2 76.0 77.2 82.0 83.4 99.2 90.5 86.7 101

102 FL713113003 Reserves at the Federal Reserve 1965.2 1754.2 1949.0 1556.0 1548.8 2994.9 3644.3 2684.8 102

103 FL403197033 Deposits at Federal Home Loan Banks 8.5 8.1 7.8 7.6 10.4 15.3 14.3 10.4 103

104 LM704022005 Debt securities 3864.9 4129.5 4276.4 4346.2 4683.3 5868.2 7056.4 6354.6 104

105 FL703069175 Open market paper 0.0 0.0 0.0 0.2 0.7 2.3 0.3 0.1 105

106 LM703061105 Treasury securities 537.2 654.1 616.0 736.7 879.3 1203.6 1641.4 1580.3 106

107 LM703061705 Agency- and GSE-backed securities (2) 2117.8 2241.2 2410.7 2445.5 2634.4 3375.7 3883.1 3214.0 107

108 LM703062005 Municipal securities 514.2 551.7 578.9 533.5 514.3 593.9 643.7 590.8 108

109 LM703063005 Corporate and foreign bonds 695.7 682.5 670.8 630.4 654.6 692.7 888.0 969.4 109
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110 FL704035005 Loans 10109.3 10693.8 11211.7 11991.8 12482.0 12976.7 13223.3 14645.4 110

111 FL704041005 Short term 5320.8 5615.2 5921.9 6540.2 6823.6 7234.0 7272.2 8159.2 111

112 FL704042005 Long term 4788.5 5078.6 5289.8 5451.6 5658.4 5742.7 5951.1 6486.2 112

113 FL703065005 Mortgages 4778.6 5070.7 5282.9 5442.5 5654.9 5741.1 5952.5 6489.2 113

114 FL763092305 U.S. direct investment abroad: debt 9.9 7.9 6.9 9.1 3.5 1.7 -1.5 -3.0 114

115 FL703081005 Equity and investment fund shares 338.5 336.8 401.6 345.9 411.5 443.4 520.1 464.3 115

116 LM703064105 Corporate equities 34.3 29.8 32.3 31.2 39.0 43.7 54.1 45.8 116

117 LM703064205 Mutual fund shares 13.1 11.4 12.0 8.2 11.3 16.3 22.0 14.3 117

118 FL703092405 Equity in government-sponsored enterprises (2) 29.2 31.3 32.6 33.1 28.5 18.8 15.4 35.6 118

119 LM763092100 U.S. direct investment abroad: equity 232.5 233.9 293.3 241.0 300.9 332.2 394.7 333.5 119

120 FL713164003 Stock in Federal Reserve Banks 29.5 30.4 31.4 32.3 31.7 32.4 33.9 35.0 120

121 FL763040005 Insurance, pension and standardized guarantee schemes 156.2 161.8 168.2 172.1 178.8 184.8 198.2 204.7 121

122 FL703096105 Other accounts receivable 797.8 831.6 768.9 719.4 690.8 899.2 892.1 1163.9 122

123 FL702100005 Total liabilities and net worth 17712.1 18403.9 19293.2 19684.4 20594.1 24008.2 26238.4 26303.3 123

124 FL704194005 Liabilities 18435.1 19321.1 20371.9 20713.5 22044.7 25035.1 27635.0 27617.3 124

125 FL704100005 Currency and deposits 13096.8 13595.9 14219.3 14839.5 15612.9 18982.2 21187.9 21067.3 125

126 FL703127005 Checkable deposits 2120.0 2226.6 2410.2 2466.1 2648.7 5183.3 6542.7 6879.6 126

127 FL703130205 Other deposits 10976.8 11369.3 11809.1 12373.3 12964.2 13798.9 14645.1 14187.7 127

128 FL704122005 Debt securities 481.6 426.3 385.9 338.3 399.0 502.1 365.5 577.6 128

129 FL763163005 Corporate bonds 257.0 223.3 198.8 180.8 201.7 256.5 191.7 269.6 129

130 FL703169175 Commercial paper 224.6 203.0 187.2 157.5 197.3 245.7 173.8 308.0 130

131 FL704135005 Loans 1177.4 1282.6 1395.8 1309.6 1277.6 1076.0 936.1 1357.9 131

132 FL704141005 Short term 1146.8 1249.0 1364.4 1281.8 1254.3 1056.0 919.0 1341.1 132

133 FL753192305 Long term (foreign direct investment in the U.S.: debt) 30.6 33.5 31.4 27.8 23.3 20.0 17.1 16.9 133

134 FL703181105 Equity and investment fund shares 2993.5 3302.4 3601.5 3445.7 3955.8 3847.2 4445.3 3870.6 134

135 LM763164103 Corporate equity issues 932.0 1132.8 1335.1 1084.5 1463.0 1222.7 1629.8 1312.6 135

136 LM753192103 Foreign direct investment in the U.S.: equity 251.7 287.4 323.8 311.4 360.1 412.5 463.4 344.7 136

137 FL703194605 Equity investment by parent 1809.9 1882.2 1942.6 2049.7 2132.7 2212.0 2352.0 2213.3 137

138 FL703196005 Other accounts payable 685.8 714.0 769.4 780.5 799.3 627.5 700.3 743.9 138

139 FL702090095 Net worth -723.0 -917.2 -1078.7 -1029.1 -1450.6 -1026.9 -1396.6 -1314.0 139

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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 Current account

 1 FA526902505 Gross value added 386.2 413.8 382.3 402.6 441.3 427.0 413.8 430.9 1

 2 FA526330081 Less: Consumption of fixed capital 31.3 33.2 35.1 36.9 39.7 43.5 48.7 55.9 2

 3 FA526902605 Equals: Net value added 354.9 380.6 347.2 365.6 401.6 383.5 365.0 375.0 3

 4 FA526025005 Compensation of employees (paid) 143.7 143.4 150.4 155.5 163.0 172.6 170.8 181.2 4

 5 FA526020001 Wages and salaries 121.8 121.2 127.3 131.5 139.0 148.6 146.9 155.8 5

 6 FA526401001 Employers’ social contributions 21.9 22.2 23.1 24.0 24.0 23.9 23.9 25.3 6

 7 FA526240101 Taxes on production and imports less subsidies 37.1 38.6 29.3 44.5 32.8 48.7 35.6 39.5 7

 8 FA526402101 Operating surplus, net 174.2 198.6 167.6 165.6 205.8 162.2 158.6 154.4 8

 9 FA526140005 Net national income/Balance of primary incomes, net 67.8 102.3 83.5 92.3 164.2 81.1 43.2 46.3 9

10 FA526402101 Operating surplus, net 174.2 198.6 167.6 165.6 205.8 162.2 158.6 154.4 10

11 FA526150105 Property income (received) 262.1 260.4 279.6 301.5 323.4 275.0 226.0 261.5 11

12 FA526130101 Interest 240.0 244.2 256.3 257.8 280.9 239.8 198.7 236.5 12

13 FA526121101 Distributed income of corporations (dividends) 18.9 17.9 18.2 48.3 36.5 21.5 12.7 13.8 13

14 FA523092281 Reinvested earnings on U.S. direct investment abroad 3.2 -1.6 5.1 -4.6 6.0 13.7 14.5 11.2 14

15 FA526150005 Less: Uses of property income (paid) 368.5 356.8 363.7 374.8 365.0 356.1 341.3 369.5 15

16 FA526130001 Interest 343.9 329.4 331.4 340.0 339.2 335.6 324.2 347.9 16

17 FA526120005 Distributed income of corporations 18.4 22.6 32.0 27.0 23.4 20.3 13.3 5.8 17

18 FA526121001 Dividends 14.4 18.6 28.7 23.6 20.8 18.8 11.2 3.9 18

19 FA526122001 Withdrawals from income of quasi-corporations (1) 4.1 3.9 3.3 3.4 2.6 1.4 2.0 1.9 19

20 FA523192281 Reinvested earnings on foreign direct investment 6.1 4.8 0.2 7.8 2.4 0.2 3.9 15.8 20

21 FA526112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA526140005 Net national income/Balance of primary incomes, net 67.8 102.3 83.5 92.3 164.2 81.1 43.2 46.3 22

23 FA526220001 Less: Current taxes on income, wealth, etc. (paid) 42.2 38.1 25.7 29.5 29.0 27.2 25.7 4.2 23

24 FA526403001 Less: Other current transfers (paid) -18.7 25.7 -19.4 -11.1 18.5 -10.7 -18.8 -8.4 24

25 FA526012005 Equals: Disposable income, net 44.3 38.5 77.2 73.8 116.7 64.6 36.4 50.5 25

26 FA526012005 Equals: Net saving 44.3 38.5 77.2 73.8 116.7 64.6 36.4 50.5 26

 Capital account

27 FA526006385 Net saving less capital transfers 44.3 38.5 20.7 56.9 116.7 64.6 13.7 26.0 27

28 FA526012005 Net saving 44.3 38.5 77.2 73.8 116.7 64.6 36.4 50.5 28

29 FA525440083 Less: Capital transfers paid (net) 0.0 0.0 56.5 16.9 0.0 0.0 22.7 24.5 29

30 FA525015085 Capital formation, net 7.7 7.5 7.4 7.2 7.6 14.0 15.5 16.0 30

31 FA525013081 Gross fixed capital formation (nonresidential) 39.0 40.7 42.5 44.1 47.3 57.5 64.2 71.9 31

32 FA526330081 Less: Consumption of fixed capital 31.3 33.2 35.1 36.9 39.7 43.5 48.7 55.9 32

33 FA525000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 36.6 30.9 13.2 49.8 109.1 50.6 -1.8 10.0 33

 Financial account

34 FA525000995 Net lending (+) or borrowing (-) (line 33) 36.6 30.9 13.2 49.8 109.1 50.6 -1.8 10.0 34

35 FA524090005 Net acquisition of financial assets 220.6 229.4 194.5 245.8 245.9 494.2 270.7 573.6 35

36 FA523020005 Currency and deposits 7.1 -15.0 21.9 -2.1 21.4 35.5 14.2 -26.2 36

37 FA524022005 Debt securities 119.7 187.1 113.9 133.8 151.6 238.3 242.2 257.8 37

38 FA523069105 Open market paper -6.7 13.3 -17.5 -7.1 -3.9 4.4 2.6 -16.0 38

39 FA523061105 Treasury securities 5.8 31.9 33.2 -20.8 -13.4 7.8 29.1 31.8 39

40 FA523061705 Agency- and GSE-backed securities (2) -8.6 15.7 12.3 21.8 4.9 -17.2 -52.5 -4.5 40

41 FA523062005 Municipal securities 18.4 10.7 -3.8 -41.4 -5.7 0.0 -0.1 -3.4 41

42 FA523063005 Corporate and foreign bonds 110.6 115.6 89.6 181.4 169.7 243.1 263.1 249.8 42

43 FA524035005 Loans 43.0 33.4 43.0 64.9 54.2 29.4 52.4 62.1 43

44 FA524041005 Short term -0.2 -3.6 0.5 -0.9 3.9 3.9 5.5 -4.2 44

45 FA524042005 Long term 43.3 36.9 42.6 65.8 50.3 25.5 47.0 66.2 45

46 FA523081005 Equity and investment fund shares 5.0 -91.4 -57.5 -106.4 -74.6 -78.4 -201.5 -18.0 46

47 FA523064105 Corporate equities 25.4 -21.7 3.9 -24.3 -0.6 -20.2 -75.6 36.3 47

48 FA523064205 Mutual fund shares -30.0 -48.1 -74.6 -88.2 -86.5 -98.8 -138.5 -88.4 48

49 FA523034005 Money market fund shares 6.2 -20.3 7.6 9.4 6.1 17.8 -5.5 21.6 49

50 FA523092405 Equity in government-sponsored enterprises (2) 0.5 0.4 0.4 0.5 0.6 3.1 1.1 -1.3 50

51 FA523092105 U.S. direct investment abroad: equity 3.0 -1.7 5.2 -3.8 5.8 19.7 17.0 13.8 51

52 FA523052005 Insurance, pension and standardized guarantee schemes 30.8 55.2 84.9 79.2 29.7 109.9 143.7 119.3 52

53 FA523096005 Other accounts receivable 15.0 60.1 -11.7 76.5 63.7 159.4 19.7 178.7 53

54 FA524194005 Net incurrence of liabilities 171.5 239.1 207.9 135.7 203.4 484.0 282.6 351.5 54

55 FA673090543 Currency and deposits (funding agreements) 2.9 6.7 12.0 3.1 6.0 23.2 40.5 18.3 55

56 FA524135005 Loans 13.7 13.3 4.5 2.2 2.3 21.5 3.6 30.9 56

57 FA524141005 Short term 6.2 9.9 6.2 9.3 1.2 22.8 5.2 35.4 57

58 FA523192305 Long term (foreign direct investment in the U.S.: debt) 7.4 3.4 -1.7 -7.1 1.1 -1.3 -1.6 -4.6 58
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59 FA523181105 Equity and investment fund shares 0.7 4.3 -25.5 -12.8 -17.5 -24.8 -26.1 -25.0 59

60 FA523164105 Corporate equity issues -31.6 -24.9 -28.8 -21.7 -23.5 -18.2 -34.3 -46.8 60

61 FA523192105 Foreign direct investment in the U.S.: equity 31.9 29.7 0.8 19.1 5.2 0.5 7.1 20.9 61

62 FA523194605 Equity investment by parent 0.4 -0.4 2.5 -10.1 0.7 -7.2 1.1 0.9 62

63 FA523152005 Insurance, pension and standardized guarantee schemes 172.8 167.3 144.0 153.3 120.0 256.3 152.8 314.0 63

64 FA523196005 Other accounts payable -18.6 47.6 73.0 -10.1 92.6 207.8 111.7 13.4 64

 Addendum:

65 FA525000005 Net lending (+) or borrowing (-), financial account (lines 35-54) 49.2 -9.8 -13.5 110.2 42.5 10.2 -11.9 222.1 65

 Other changes in volume account

66 FV528090185 Total other volume changes -0.2 -20.1 -36.6 86.7 -99.4 -75.8 -21.0 313.4 66

67 FV522010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 67

68 FV528090085 Other volume changes -12.8 20.6 -9.9 26.3 -32.8 -35.4 -10.9 101.2 68

69 FU527005045 Less: Statistical discrepancy (lines 33-65) (3) -12.5 40.7 26.7 -60.4 66.6 40.4 10.1 -212.1 69

 Revaluation account

70 FR522010095 Nonfinancial assets 1.4 1.4 4.2 8.0 5.6 3.5 34.3 43.4 70

71 FR525013665 Structures (nonresidential) 2.8 2.3 4.1 8.3 6.5 2.8 31.2 37.4 71

72 FR525013265 Equipment -0.7 -0.5 0.2 0.5 -0.2 0.4 3.2 3.8 72

73 FR525013765 Intellectual property products -0.6 -0.4 -0.2 -0.7 -0.7 0.3 -0.2 2.3 73

74 FR524090085 Financial assets -245.2 170.2 469.7 -402.2 977.1 602.7 392.8 -1707.3 74

75 FR524022005 Debt securities -168.7 27.2 101.4 -194.6 436.2 247.5 -171.2 -991.9 75

76 FR523092305 U.S. direct investment abroad: debt 0.1 -0.5 0.3 -0.0 -1.0 -0.3 -0.5 1.8 76

77 FR523064105 Corporate equities -26.5 50.9 120.5 -79.2 209.3 130.7 233.9 -288.0 77

78 FR523064205 Mutual fund shares -31.4 91.1 211.6 -84.5 287.1 205.4 285.2 -337.4 78

79 FR523092105 U.S. direct investment abroad: equity -18.9 1.5 35.8 -43.8 45.4 19.4 45.4 -91.8 79

80 FR524190085 Liabilities -64.8 183.8 412.0 -220.1 618.7 351.4 593.0 -809.7 80

81 FR523192305 Foreign direct investment in the U.S.: debt 0.1 -2.3 0.9 0.6 -0.5 -0.4 -0.6 -0.0 81

82 FR523164105 Corporate equity issues -10.5 63.2 83.8 -59.2 135.9 -20.9 159.3 -104.3 82

83 FR523192105 Foreign direct investment in the U.S.: equity 5.4 10.3 39.5 -41.4 88.0 74.4 94.4 -190.6 83

84 FR523194605 Equity investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84

85 FR523152005 Insurance, pension and standardized guarantee schemes -59.8 112.6 287.8 -120.1 395.3 298.3 339.9 -514.8 85

86 FR528200005 Changes in net worth due to nominal holding gains/losses -179.0 -12.2 61.9 -174.1 364.1 254.8 -165.9 -854.2 86

 Changes in balance sheet account

87 FC522090095 Change in net worth (lines 30+33+66+86) -135.0 6.2 46.0 -30.4 381.4 243.6 -173.2 -514.8 87

 Balance sheet account (end of period)

88 FL522000095 Total assets 9301.4 9743.5 10419.1 10278.6 11516.9 12633.6 13347.5 12273.8 88

89 LM522010095 Nonfinancial assets (4) 263.5 272.4 283.8 299.8 314.6 334.3 384.5 444.6 89

90 LM525013665 Structures (nonresidential) 161.1 163.2 167.2 174.8 180.5 184.4 215.2 251.1 90

91 LM525013265 Equipment 49.7 52.1 55.8 59.7 61.6 66.5 73.6 81.4 91

92 LM525013765 Intellectual property products 52.7 57.1 60.8 65.3 72.5 83.3 95.7 112.1 92

93 FL524090005 Financial assets 9037.9 9471.1 10135.3 9978.8 11202.3 12299.3 12963.0 11829.1 93

94 FL523020005 Currency and deposits 105.2 101.1 123.0 120.9 142.3 177.8 192.0 165.8 94

95 LM524022005 Debt securities 4252.6 4473.2 4688.4 4627.7 5215.5 5701.2 5772.2 5038.1 95

96 FL523069105 Open market paper 53.6 66.9 49.4 42.3 38.4 42.9 45.4 29.5 96

97 LM523061105 Treasury securities 310.1 334.2 377.9 360.5 368.7 398.2 419.3 391.3 97

98 LM523061705 Agency- and GSE-backed securities (2) 477.4 480.8 501.7 491.8 538.1 511.7 448.3 388.0 98

99 LM523062005 Municipal securities 534.8 535.9 536.7 481.6 500.2 532.1 524.3 438.3 99

100 LM523063005 Corporate and foreign bonds 2876.6 3055.3 3222.7 3251.4 3770.1 4216.4 4334.9 3791.0 100

101 FL524035005 Loans 621.1 653.9 697.3 762.2 815.4 844.5 896.4 960.3 101

102 FL524041005 Short term 170.1 166.5 167.0 166.1 170.0 173.9 179.3 175.2 102

103 FL524042005 Long term 451.0 487.4 530.3 596.1 645.4 670.7 717.1 785.2 103

104 FL523065005 Mortgages 443.4 480.9 524.5 588.6 642.0 669.0 718.5 787.5 104

105 FL523092305 U.S. direct investment abroad: debt 7.5 6.5 5.8 7.5 3.4 1.7 -1.5 -2.3 105

106 FL523081005 Equity and investment fund shares 2557.7 2623.8 2948.8 2635.0 3145.6 3429.6 3784.5 2994.6 106

107 LM523064105 Corporate equities 880.8 910.0 1034.4 930.9 1139.5 1250.0 1408.4 1156.7 107

108 LM523064205 Mutual fund shares 1415.6 1458.7 1595.7 1423.0 1623.7 1730.3 1877.0 1451.1 108

109 FL523034005 Money market fund shares 80.5 60.2 67.8 77.2 83.3 101.1 95.7 117.2 109

110 FL523092405 Equity in government-sponsored enterprises (2) 3.5 3.9 4.3 4.8 5.4 8.5 9.6 8.4 110

111 FL523092105 U.S. direct investment abroad: equity 177.2 191.0 246.5 199.0 293.6 339.7 393.9 261.2 111
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112 FL523052005 Insurance, pension and standardized guarantee schemes 640.1 695.3 780.2 859.3 889.4 999.5 1143.3 1262.4 112

113 FL523096005 Other accounts receivable 861.4 923.8 897.6 973.9 994.1 1146.6 1174.6 1407.9 113

114 FL522100005 Total liabilities and net worth 9301.4 9743.5 10419.1 10278.6 11516.9 12633.6 13347.5 12273.8 114

115 FL524194005 Liabilities 8537.2 8973.1 9602.6 9492.6 10349.6 11222.6 12109.7 11550.8 115

116 FL673090543 Currency and deposits (funding agreements) 64.0 70.7 82.6 85.7 91.8 114.9 155.4 173.7 116

117 FL524135005 Loans 114.5 125.5 130.9 133.7 135.5 156.6 159.6 190.4 117

118 FL524141005 Short term 83.3 93.2 99.4 108.7 109.9 132.7 137.9 173.4 118

119 FL523192305 Long term (foreign direct investment in the U.S.: debt) 31.2 32.3 31.5 25.0 25.6 23.9 21.7 17.1 119

120 FL523181105 Equity and investment fund shares 730.4 788.4 893.9 758.4 987.0 1037.3 1260.2 869.6 120

121 LM523164105 Corporate equity issues 456.8 495.0 550.0 469.1 581.5 542.5 667.5 516.4 121

122 FL523192105 Foreign direct investment in the U.S.: equity 256.6 276.8 324.8 280.3 395.8 492.4 589.2 348.7 122

123 FL523194605 Equity investment by parent 17.0 16.6 19.1 9.0 9.7 2.5 3.6 4.5 123

124 FL523152005 Insurance, pension and standardized guarantee schemes 6939.5 7236.9 7668.6 7701.8 8217.2 8771.8 9264.5 9063.7 124

125 FL523196005 Other accounts payable 688.8 751.7 826.6 813.0 918.2 1142.0 1269.9 1253.3 125

126 FL522090095 Net worth 764.3 770.4 816.4 786.0 1167.3 1411.0 1237.8 723.0 126

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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Billions of dollars

2015 2016 2017 2018 2019 2020 2021 2022

 

 Current account

 1 FA596902505 Gross value added 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA596330081 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA596902605 Equals: Net value added 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 FA596025005 Compensation of employees (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA596020001 Wages and salaries 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA596401001 Employers’ social contributions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FA596240101 Taxes on production and imports less subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA596402101 Operating surplus, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA596140005 Net national income/Balance of primary incomes, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 FA596402101 Operating surplus, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 FA596150105 Property income (received) 626.4 633.5 655.5 672.4 688.2 673.0 665.6 670.1 11

12 FA596130101 Interest 465.8 466.7 475.6 491.2 499.1 466.9 449.9 466.2 12

13 FA596121101 Distributed income of corporations (dividends) 160.5 166.8 179.8 181.2 189.2 206.1 215.8 203.9 13

14 FA593092281 Reinvested earnings on U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 FA596150005 Less: Uses of property income (paid) 626.4 633.5 655.5 672.4 688.2 673.0 665.6 670.1 15

16 FA596130001 Interest 465.8 466.7 475.6 491.2 499.1 466.9 449.9 466.2 16

17 FA596120005 Distributed income of corporations 160.5 166.8 179.8 181.2 189.2 206.1 215.8 203.9 17

18 FA596121001 Dividends 160.5 166.8 179.8 181.2 189.2 206.1 215.8 203.9 18

19 FA596122001 Withdrawals from income of quasi-corporations (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA593192281 Reinvested earnings on foreign direct investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 FA596112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA596140005 Net national income/Balance of primary incomes, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA596220001 Less: Current taxes on income, wealth, etc. (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 FA596403105 Plus: Other current transfers received, net 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 24

25 FA596012005 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 25

26 FA596012005 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 26

 Capital account

27 FA596006385 Net saving less capital transfers 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 27

28 FA596012005 Net saving 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 28

29 FA595440083 Less: Capital transfers (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 FA595015085 Capital formation, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 FA595013081 Gross fixed capital formation (nonresidential) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 FA596330081 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 FA595000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 33

 Addenda:

34 FA596403105 Other current transfers received, net (line 24) 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 34

35 FA596403115 Contributions received 1475.4 1512.7 1571.2 1639.2 1711.1 1723.1 1796.7 1857.2 35

36 FA596403125 Claims to pension benefits 855.6 886.1 923.3 975.4 1032.2 1060.3 1142.7 1196.8 36

37 FA596403133 Actual employer contributions 591.9 628.6 699.0 669.8 697.1 731.8 755.5 835.6 37

38 FA596403143 Imputed employer contributions -90.0 -114.0 -172.6 -122.1 -122.8 -146.3 -134.3 -208.7 38

39 FA596403153 Actual household contributions 380.2 400.6 428.3 459.9 491.7 510.0 559.1 610.0 39

40 FA596403013 Less: pension service charges for defined benefit (DB) plans 26.5 29.1 31.4 32.1 33.8 35.2 37.6 40.1 40

41 FA596403163 Household pension contribution supplements 626.4 633.5 655.5 672.4 688.2 673.0 665.6 670.1 41

42 FA596403023 Less: pension service charge for defined contribution (DC) plans 6.5 6.8 7.5 8.6 9.4 10.1 11.7 9.7 42

43 FA596403033 Less: benefit payments and withdrawals 1160.5 1176.5 1248.9 1328.6 1414.1 1546.3 1589.5 1654.9 43

44 FA596403043 Less: net change in benefit entitlements from DB plans 173.6 169.4 154.4 152.3 143.2 112.8 121.1 111.6 44

45 FA596403053 Less: net change in assets from current transaction for DC plans 141.3 166.8 167.9 158.3 153.8 63.9 86.1 90.7 45

 Financial account

46 FA595000995 Net lending (+) or borrowing (-) (line 33) 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 46

47 FA594090005 Net acquisition of financial assets 325.0 333.6 482.4 288.8 410.3 380.6 303.0 423.4 47

48 FA594000005 Currency and deposits -0.5 -1.0 -2.3 -12.3 0.4 2.7 5.2 1.4 48

49 FA593020005 Currency and transferable deposits 3.6 -0.8 -5.6 -6.9 11.5 2.4 4.6 -3.6 49

50 FA593030005 Time and savings deposits -4.1 -0.2 3.3 -5.4 -11.1 0.2 0.6 5.0 50

51 FA594022005 Debt securities 85.4 156.2 114.9 448.4 20.7 310.9 492.4 427.4 51

52 FA593069105 Open market paper -3.6 11.2 1.6 -7.2 -7.1 1.7 12.8 -6.9 52

53 FA593061105 Treasury securities 56.3 170.0 33.7 388.5 130.8 151.2 307.7 292.6 53

54 FA593061705 Agency- and GSE-backed securities (2) -11.7 10.9 34.0 25.3 35.6 40.3 39.1 3.9 54

55 FA593062045 Municipal securities 0.1 0.2 0.7 0.7 -1.0 -0.0 -0.0 -0.0 55

56 FA593063005 Corporate and foreign bonds 44.3 -36.2 44.9 41.1 -137.6 117.8 132.8 137.8 56
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57 FA594035005 Loans -2.5 7.7 148.6 -149.8 14.6 4.1 20.7 22.0 57

58 FA594041005 Short term -0.3 0.9 151.8 -152.3 16.6 3.8 19.9 21.5 58

59 FA593065005 Long term (mortgages) -2.2 6.8 -3.2 2.6 -2.0 0.3 0.8 0.5 59

60 FA593081005 Equity and investment fund shares 7.8 -229.2 -68.6 -196.4 -162.3 -122.6 -624.3 -284.0 60

61 FA593064105 Corporate equities -6.6 -212.6 -108.5 -183.9 -218.5 -164.0 -387.6 -241.7 61

62 FA593064205 Mutual fund shares 17.2 -32.2 42.3 -9.7 32.5 16.7 -246.6 -54.7 62

63 FA593034005 Money market fund shares -2.8 15.5 -2.4 -2.8 23.7 24.8 9.9 12.4 63

64 FA593052025 Insurance, pension and standardized guarantee schemes 246.8 336.2 171.7 206.4 284.1 236.9 308.8 141.9 64

65 FA593093005 Other accounts receivable -12.0 63.8 118.1 -7.6 252.7 -51.4 100.2 114.6 65

66 FA594190005 Net incurrence of liabilities (pension entitlements) 325.0 333.7 482.6 288.3 410.0 380.4 306.1 426.0 66

 Addendum:

67 FA595000005 Net lending (+) or borrowing (-), financial account (lines 47-66) 0.0 -0.1 -0.2 0.5 0.3 0.2 -3.1 -2.6 67

 Other changes in volume account

68 FV598090185 Total other volume changes 0.0 -0.0 -0.0 0.0 -28.2 68.6 39.5 -61.5 68

69 FV592010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 69

70 FV598090085 Other volume changes -0.0 0.1 0.2 -0.5 -28.6 68.4 42.7 -58.9 70

71 FU597005045 Less: Statistical discrepancy (lines 33-67) (3) -0.0 0.1 0.2 -0.5 -0.3 -0.2 3.1 2.6 71

 Revaluation account

72 FR592010095 Nonfinancial assets 0.1 0.1 0.1 0.3 0.2 0.1 1.2 1.7 72

73 FR595013665 Structures (nonresidential) 0.1 0.1 0.2 0.3 0.2 0.1 1.2 1.5 73

74 FR595013265 Equipment -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 74

75 FR595013765 Intellectual property products -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 0.1 75

76 FR594090085 Financial assets -89.0 394.2 815.9 -396.4 1156.3 913.2 1100.7 -1692.9 76

77 FR594022005 Debt securities -56.9 12.6 23.7 -94.9 170.6 119.0 -139.5 -477.0 77

78 FR593064105 Corporate equities -90.6 414.1 940.3 -341.5 1199.3 1004.6 1433.8 -1178.2 78

79 FR593064205 Mutual fund shares -89.0 250.3 555.8 -316.8 765.8 603.5 661.2 -1057.2 79

80 FR593052025 Insurance, pension, and standardized guarantee schemes 147.6 -282.8 -704.0 356.8 -979.4 -813.8 -854.8 1019.6 80

81 FR594190005 Liabilities (pension entitlements) -103.7 364.0 789.9 -411.5 1202.6 976.8 1171.6 -1713.8 81

82 FR598200005 Changes in net worth due to nominal holding gains/losses 14.9 30.3 26.2 15.5 -46.0 -63.5 -69.7 22.6 82

 Changes in balance sheet account

83 FC592090095 Change in net worth (lines 30+33+68+82) 14.9 30.3 26.2 15.5 -74.3 5.2 -30.1 -38.9 83

 Balance sheet account (end of period)

84 FL592000095 Total assets 20421.1 21247.7 22658.0 22647.6 24458.9 25911.7 27464.5 24105.2 84

85 LM592010095 Nonfinancial assets (4) 8.1 8.3 8.7 8.4 8.3 8.2 12.6 16.9 85

86 LM595013665 Structures (nonresidential) 6.7 6.7 6.8 7.0 7.1 7.1 8.7 10.6 86

87 LM595013265 Equipment 0.4 0.4 0.5 0.4 0.4 0.3 0.8 1.3 87

88 LM595013765 Intellectual property products 1.0 1.2 1.4 1.1 0.9 0.8 3.1 4.9 88

89 FL594090005 Financial assets 20413.0 21239.4 22649.4 22639.1 24450.6 25903.5 27451.8 24088.3 89

90 FL594000005 Currency and deposits 93.9 92.8 90.5 78.2 66.0 68.6 73.8 75.3 90

91 FL593020005 Currency and transferable deposits 59.4 58.6 53.0 46.1 47.2 49.6 54.2 50.6 91

92 FL593030005 Time and savings deposits 34.5 34.3 37.5 32.1 18.8 19.0 19.6 24.6 92

93 LM594022005 Debt securities 3792.3 3961.2 4099.8 4453.3 4710.1 5140.1 5492.9 5443.4 93

94 FL593069105 Open market paper 84.0 95.3 96.9 89.7 47.7 49.4 62.2 55.3 94

95 LM593061105 Treasury securities 2176.1 2337.3 2370.6 2779.3 2924.7 3113.1 3376.0 3533.7 95

96 LM593061705 Agency- and GSE-backed securities (2) 268.0 277.2 312.3 355.7 403.6 441.1 469.1 426.7 96

97 LM593062045 Municipal securities 2.5 2.7 3.4 4.1 0.1 0.0 0.0 0.0 97

98 LM593063005 Corporate and foreign bonds 1261.7 1248.7 1316.6 1224.5 1334.1 1536.4 1585.6 1427.6 98

99 FL594035005 Loans 36.5 44.2 192.8 43.1 53.7 57.8 78.5 100.5 99

100 FL594041005 Short term 6.5 7.5 159.3 7.0 22.6 26.4 46.3 67.7 100

101 FL593065005 Long term (mortgages) 30.0 36.8 33.6 36.1 31.2 31.4 32.2 32.8 101

102 FL593081005 Equity and investment fund shares 8470.3 8905.5 10333.0 9478.3 10784.3 12244.8 13705.6 11186.1 102

103 LM593064105 Corporate equities 4710.8 4912.2 5744.0 5218.6 5888.0 6703.5 7739.7 6319.7 103

104 LM593064205 Mutual fund shares 3551.7 3769.8 4368.0 4041.5 4692.8 5312.9 5727.5 4615.7 104

105 FL593034005 Money market fund shares 207.9 223.4 221.0 218.2 203.6 228.4 238.3 250.8 105

106 FL593052025 Insurance, pension and standardized guarantee schemes 7230.6 7382.6 6962.0 7622.5 7128.8 6647.4 6173.7 5260.8 106
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107 FL593093005 Other accounts receivable 789.4 853.1 971.2 963.6 1707.6 1744.7 1927.3 2022.1 107

108 FL592000095 Total liabilities and net worth 20421.1 21247.7 22658.0 22647.6 24458.9 25911.7 27464.5 24105.2 108

109 FL594190005 Liabilities (pension entitlements) 20590.4 21386.8 22770.9 22745.0 24630.6 26078.2 27661.0 24340.7 109

110 FL592090095 Net worth -169.3 -139.0 -112.9 -97.4 -171.7 -166.5 -196.6 -235.5 110

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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S.65.a Other Financial Business (1)

Billions of dollars

2015 2016 2017 2018 2019 2020 2021 2022

 

 Current account

 1 FA856902505 Gross value added 564.8 594.6 592.5 590.3 651.2 714.1 827.6 786.1 1

 2 FA856330085 Less: Consumption of fixed capital 126.0 132.7 139.4 145.6 153.2 158.5 167.1 183.9 2

 3 FA856902605 Equals: Net value added 438.8 461.9 453.2 444.7 498.0 555.6 660.5 602.2 3

 4 FA856025005 Compensation of employees (paid) 389.4 406.4 451.5 452.5 474.7 510.1 578.8 612.0 4

 5 FA856020005 Wages and salaries 333.5 347.0 383.0 382.4 404.9 439.9 501.2 529.0 5

 6 FA856401005 Employers’ social contributions 55.9 59.5 68.5 70.1 69.9 70.2 77.6 83.0 6

 7 FA856240105 Taxes on production and imports less subsidies 17.9 23.4 25.9 23.2 24.6 14.9 22.1 29.1 7

 8 FA856402105 Operating surplus, net 31.5 32.1 -24.2 -31.0 -1.3 30.6 59.6 -38.9 8

 9 FA856140005 Net national income/Balance of primary incomes, net 63.7 95.2 -17.7 84.5 71.3 -71.4 44.7 114.1 9

10 FA856402105 Operating surplus, net 31.5 32.1 -24.2 -31.0 -1.3 30.6 59.6 -38.9 10

11 FA856150105 Property income (received) 836.6 910.1 1057.0 1281.1 1301.7 980.7 890.9 1190.3 11

12 FA856130105 Interest 522.6 594.0 694.1 856.4 953.9 648.0 540.8 804.5 12

13 FA856121105 Distributed income of corporations (dividends) 280.5 280.7 326.3 448.8 331.9 318.6 320.6 348.7 13

14 FA853092285 Reinvested earnings on U.S. direct investment abroad 33.5 35.4 36.6 -24.1 15.9 14.1 29.5 37.1 14

15 FA856150005 Less: Uses of property income (paid) 804.4 847.0 1050.5 1165.6 1229.1 1082.7 905.8 1037.3 15

16 FA856130005 Interest 448.6 493.1 603.1 752.7 806.9 523.1 417.6 530.9 16

17 FA856120005 Distributed income of corporations 352.6 349.6 437.8 409.1 412.3 550.8 468.3 500.6 17

18 FA856121005 Dividends 347.1 311.4 389.0 382.3 382.6 491.5 429.1 462.9 18

19 FA856122005 Withdrawals from income of quasi-corporations (2) 5.5 38.2 48.8 26.8 29.7 59.3 39.2 37.7 19

20 FA853192285 Reinvested earnings on foreign direct investment 3.2 4.3 9.5 3.8 9.9 8.8 20.0 5.8 20

21 FA856112005 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA856140005 Net national income/Balance of primary incomes, net 63.7 95.2 -17.7 84.5 71.3 -71.4 44.7 114.1 22

23 FA856220005 Less: Current taxes on income, wealth, etc. (paid) 34.0 40.9 34.8 30.9 42.0 41.6 53.6 88.7 23

24 FA856403005 Less: Other current transfers (paid) 31.1 28.6 28.3 30.1 14.0 31.2 32.7 21.6 24

25 FA856012005 Equals: Disposable income, net -1.4 25.7 -80.8 23.6 15.3 -144.2 -41.7 3.8 25

26 FA856012005 Equals: Net saving -1.4 25.7 -80.8 23.6 15.3 -144.2 -41.7 3.8 26

 Capital account

27 FA856006385 Net saving less capital transfers -1.4 23.9 -96.2 23.6 15.3 -144.2 -41.7 2.1 27

28 FA856012005 Net saving -1.4 25.7 -80.8 23.6 15.3 -144.2 -41.7 3.8 28

29 FA855440085 Less: Capital transfers paid (net) 0.0 1.8 15.5 0.0 0.0 0.0 0.0 1.7 29

30 FA855015085 Capital formation, net 25.4 27.8 17.8 21.9 23.9 1.0 8.4 5.9 30

31 FA855013085 Gross fixed capital formation (nonresidential) 151.4 160.5 157.2 167.5 177.1 159.5 175.4 189.8 31

32 FA856330085 Less: Consumption of fixed capital 126.0 132.7 139.4 145.6 153.2 158.5 167.1 183.9 32

33 FA855000995 Net lending (+) or borrowing (-), capital account (lines 27-30) -26.9 -3.9 -114.1 1.6 -8.6 -145.2 -50.1 -3.8 33

 Financial account

34 FA855000995 Net lending (+) or borrowing (-) (line 33) -26.9 -3.9 -114.1 1.6 -8.6 -145.2 -50.1 -3.8 34

35 FA854090005 Net acquisition of financial assets 149.7 782.6 1299.9 1135.0 1910.0 2512.3 2869.9 957.2 35

36 FA854000005 Currency and deposits -220.7 -307.1 55.2 0.5 61.1 189.7 -52.9 104.7 36

37 FA854022005 Debt securities 215.9 556.1 518.5 702.2 881.6 1575.9 -451.6 -203.5 37

38 FA853069175 Open market paper 19.3 -111.7 107.9 15.4 -0.4 -52.8 2.6 168.6 38

39 FA853061105 Treasury securities 259.3 460.2 125.1 488.5 359.1 1546.6 -430.0 -540.4 39

40 FA853061705 Agency- and GSE-backed securities (3) -114.1 151.7 44.8 18.6 277.0 -360.6 -487.7 290.9 40

41 FA853062005 Municipal securities -15.5 -33.8 27.1 34.3 103.7 44.9 119.7 -95.7 41

42 FA853063005 Corporate and foreign bonds 66.9 89.7 213.7 145.6 142.2 397.8 343.9 -27.0 42

43 FA854035005 Loans 84.6 256.5 604.2 498.9 548.2 509.5 2558.4 1739.7 43

44 FA854041005 Short term 4.1 97.0 293.2 148.7 237.0 -110.6 1604.4 1151.8 44

45 FA814042005 Long term 80.5 159.5 311.0 350.2 311.2 620.1 954.0 587.9 45

46 FA813081005 Equity and investment fund shares 248.8 375.8 205.5 223.6 142.3 29.9 705.8 -223.4 46

47 FA813064105 Corporate equities 214.4 69.1 186.2 62.9 -73.2 -203.7 380.4 14.5 47

48 FA813034005 Money market fund shares -68.5 144.0 9.1 24.7 105.6 127.5 177.1 -254.2 48

49 FA813092405 Equity in government-sponsored enterprises (3) 1.2 -0.5 -0.4 -0.2 -0.0 -0.5 -0.0 -0.0 49

50 FA803092105 U.S. direct investment aboard: equity 27.2 54.9 30.2 1.9 47.7 27.0 54.7 56.5 50

51 FA793094605 Equity investment in subsidiaries 74.6 108.3 -19.7 134.3 62.2 79.6 93.6 -40.1 51

52 FA733040005 Insurance, pension and standardized guarantee schemes 4.1 4.0 4.0 4.0 4.0 4.0 4.0 4.0 52

53 FA853096005 Other accounts receivable -183.0 -102.6 -87.5 -294.3 272.8 203.3 106.2 -464.3 53

54 FA854194005 Net incurrence of liabilities 139.0 639.9 1332.6 979.0 1761.6 2493.0 2663.7 953.1 54

55 FA403197033 Currency and deposits -0.5 -0.4 -0.3 -0.2 2.8 4.9 -1.0 -3.9 55
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56 FA814122005 Debt securities 124.3 339.2 381.1 302.7 401.8 807.2 856.5 1062.8 56

57 FA423161705 Agency- and GSE-backed securities (3) 220.4 351.7 346.6 246.9 318.6 658.2 612.9 979.4 57

58 FA813163005 Corporate bonds -84.5 -3.8 31.8 60.2 49.2 174.3 255.5 11.1 58

59 FA813169105 Commercial paper -11.6 -8.6 2.7 -4.4 34.0 -25.4 -11.9 72.3 59

60 FA814135005 Loans -232.8 42.5 100.4 327.9 140.7 151.2 16.7 -136.3 60

61 FA814141005 Short term -243.3 -55.9 95.0 350.8 151.1 142.1 11.8 -99.8 61

62 FA803192305 Long term 10.5 98.4 5.4 -22.9 -10.4 9.1 4.9 -36.4 62

63 FA853181005 Equity and investment fund shares 369.4 159.0 836.8 406.5 1108.3 1140.8 1394.9 -91.5 63

64 FA634090005 Money market fund shares 5.2 -123.0 165.3 169.2 712.8 763.5 439.5 17.6 64

65 FA813164105 Corporate equity issues 225.2 273.1 407.2 207.2 175.7 485.7 843.3 536.4 65

66 FA653164205 Mutual fund shares 98.7 28.4 317.7 -64.0 208.2 -228.9 216.4 -800.0 66

67 FA403192405 Equity in government-sponsored enterprises (3) 1.3 2.7 4.2 1.1 -3.7 -6.8 -0.9 20.0 67

68 FA803192105 Foreign direct investment in the U.S.: equity 16.1 -76.0 21.1 46.2 31.6 0.5 19.5 39.1 68

69 FA662090003 Equity in noncorporate business 5.3 17.3 1.0 9.5 5.2 6.9 15.8 3.7 69

70 FA803194605 Equity investment by parent 17.6 36.4 -79.7 37.3 -21.5 7.5 -47.5 97.7 70

71 FA503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 112.5 -91.2 -5.9 71

72 FA813196005 Other accounts payable -121.4 99.6 14.6 -57.8 107.9 388.9 396.7 122.0 72

 Addendum:

73 FA855000005 Net lending (+) or borrowing (-), financial account (lines 35-54) 10.7 142.8 -32.7 155.9 148.4 19.2 206.2 4.1 73

 Other changes in volume account

74 FV858090185 Total other volume changes 282.4 330.1 169.7 250.9 135.5 271.5 538.9 261.5 74

75 FV812010095 Disaster losses 0.0 0.0 -1.8 -2.4 0.0 0.0 -0.4 -1.5 75

76 FV858090085 Other volume changes 244.7 183.4 90.2 99.0 -21.6 107.2 283.1 255.2 76

77 FU857005045 Less: Statistical discrepancy (lines 33-75) (4) -37.6 -146.7 -81.4 -154.3 -157.1 -164.4 -256.2 -7.9 77

 Revaluation account

78 FR812010095 Nonfinancial assets 6.2 5.8 11.5 27.3 18.1 12.9 122.0 136.1 78

79 FR815013665 Structures (nonresidential) 8.7 7.7 13.0 25.3 18.5 8.7 86.0 101.8 79

80 FR815013265 Equipment -1.8 -1.3 -1.2 3.4 1.0 4.4 36.5 30.9 80

81 FR815013765 Intellectual property products -0.7 -0.6 -0.3 -1.4 -1.3 -0.2 -0.4 3.4 81

82 FR854090085 Financial assets -546.3 699.8 2463.6 -1708.7 3709.9 2703.4 3170.0 -5951.3 82

83 FR854022005 Debt securities -162.4 -11.2 60.3 -214.6 404.4 195.6 -316.1 -1231.5 83

84 FR803092305 U.S. direct investment aboard: debt 0.3 -1.3 0.8 -0.1 -2.3 -0.7 -1.2 5.0 84

85 FR813064105 Corporate equities -339.2 707.5 2319.8 -1390.7 3202.7 2468.2 3364.5 -4513.4 85

86 FR803092105 U.S. direct investment aboard: equity -45.1 4.7 82.7 -103.3 105.1 40.2 122.8 -211.4 86

87 FR814190085 Liabilities -571.5 1090.7 3047.1 -1860.3 4179.7 2983.5 4832.5 -6145.4 87

88 FR803192305 Foreign direct investment in the U.S.: debt 0.1 -4.2 4.2 3.0 -2.9 -2.0 -3.3 -0.3 88

89 FR813164105 Corporate equity issues -198.6 394.0 1028.2 -649.7 1283.2 766.5 2246.1 -1867.0 89

90 FR653164205 Mutual fund shares -352.1 689.9 1965.7 -1165.2 2781.5 2132.0 2429.8 -4075.4 90

91 FR803192105 Foreign direct investment in the U.S.: equity -20.9 11.0 49.1 -48.4 117.9 87.1 159.9 -202.8 91

92 FR662090003 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 92

93 FR803194605 Equity investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 93

94 FR858200005 Changes in net worth due to nominal holding gains/losses 31.4 -385.2 -572.0 178.8 -451.6 -267.2 -1540.4 330.3 94

 Changes in balance sheet account

95 FC852090095 Change in net worth (lines 30+33+76+96) 312.3 -31.2 -498.5 453.3 -300.9 -139.8 -1043.3 593.9 95

 Balance sheet account (end of period)

96 FL852000095 Total assets 39032.9 40583.7 44376.2 43912.2 49543.0 54729.7 61864.3 57326.1 96

97 LM812010095 Nonfinancial assets (5) 972.2 999.6 1021.4 1063.0 1098.6 1106.9 1229.2 1361.7 97

98 LM815013665 Structures (nonresidential) 458.1 463.2 471.5 493.3 511.2 517.4 598.3 692.1 98

99 LM815013265 Equipment 428.9 447.6 455.4 470.7 481.5 473.6 500.7 519.2 99

100 LM815013765 Intellectual property products 85.2 88.8 94.5 99.0 105.9 116.0 130.2 150.4 100

101 FL854090005 Financial assets 38060.7 39584.1 43354.8 42849.2 48444.4 53622.7 60635.1 55964.4 101

102 FL854000005 Currency and deposits 1255.3 948.2 1034.3 1034.8 1095.9 1285.5 1265.4 1370.1 102

103 FL854022005 Debt securities 7333.4 7878.3 8450.8 8938.5 10263.8 11980.6 11242.2 9831.1 103

104 FL853069175 Open market paper 476.9 365.7 472.5 488.4 526.4 416.6 468.2 661.6 104
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105 FL853061105 Treasury securities 1705.1 2144.2 2259.6 2734.0 3162.5 4764.6 4233.2 3368.9 105

106 FL853061705 Agency- and GSE-backed securities (3) 1770.3 1913.2 1961.1 1972.4 2288.3 1920.0 1404.4 1601.2 106

107 FL853062005 Municipal securities 982.2 931.6 977.5 990.5 1131.6 1190.5 1302.5 1067.7 107

108 FL853063005 Corporate and foreign bonds 2398.9 2523.8 2780.1 2753.1 3154.9 3689.0 3833.9 3131.7 108

109 FL854035005 Loans 12626.9 12855.9 13518.7 13997.0 14529.7 15031.4 18153.0 19895.2 109

110 FL854041005 Short term 4543.2 4640.1 5014.2 5158.8 5395.8 5285.2 7201.3 8353.2 110

111 FL814042005 Long term 8083.8 8215.8 8504.5 8838.1 9133.9 9746.2 10951.7 11542.0 111

112 FL813065005 Mortgages 8065.4 8199.1 8490.8 8819.8 9126.0 9742.4 10955.3 11549.1 112

113 FL803092305 U.S. direct investment abroad: debt 18.4 16.7 13.7 18.3 7.8 3.8 -3.6 -7.1 113

114 FL813081005 Equity and investment fund shares 13540.9 14570.1 17127.2 15874.8 19364.6 21898.0 26108.3 21178.3 114

115 LM813064105 Corporate equities 10600.6 11377.2 13883.2 12555.3 15684.9 17949.4 21694.4 17195.5 115

116 FL813034005 Money market fund shares 278.0 422.0 431.1 455.8 599.7 727.1 904.2 650.0 116

117 FL813092405 Equity in government-sponsored enterprises (3) 1.6 1.1 0.7 0.6 0.6 0.1 0.0 0.0 117

118 FL803092105 U.S. direct investment aboard: equity 433.0 492.8 579.7 484.4 676.8 758.7 958.2 788.5 118

119 FL793094605 Equity investment in subsidiaries 2227.8 2277.0 2232.5 2378.7 2402.7 2462.7 2551.4 2544.3 119

120 FL733040005 Insurance, pension and standardized guarantee schemes 49.0 53.0 57.0 61.0 65.0 69.0 73.0 77.0 120

121 FL853096005 Other accounts receivable 3255.1 3278.6 3166.8 2943.1 3125.5 3358.2 3793.2 3612.7 121

122 FL852100005 Total liabilities and net worth 39032.9 40583.7 44376.2 43912.2 49543.0 54729.7 61864.3 57326.1 122

123 FL854194005 Liabilities 38574.7 40156.7 44447.6 43530.4 49462.1 54788.6 62966.5 57834.4 123

124 FL403197033 Currency and deposits 8.5 8.1 7.8 7.6 10.4 15.3 14.3 10.4 124

125 FL814122005 Debt securities 12030.5 12241.9 12586.6 12874.0 13268.8 14069.9 15240.1 16301.8 125

126 FL423161705 Agency- and GSE-backed securities (3) 8144.4 8496.1 8842.7 9089.6 9408.3 10066.5 10679.4 11658.8 126

127 FL813163005 Corporate bonds 3554.4 3422.8 3418.1 3463.1 3505.3 3673.5 4242.7 4252.8 127

128 FL813169105 Commercial paper 331.6 323.0 325.7 321.3 355.3 329.9 318.0 390.3 128

129 FL814135005 Loans 2824.0 2862.3 2966.9 3297.9 3435.6 3584.8 3702.8 3566.3 129

130 FL814141005 Short term 2774.5 2718.7 2813.7 3164.5 3315.6 3457.7 3574.1 3474.3 130

131 FL803192305 Long term 49.5 143.7 153.2 133.3 120.0 127.1 128.7 92.0 131

132 FL853181005 Equity and investment fund shares 21764.7 22945.8 26786.0 25315.8 30586.7 34699.6 40931.1 34724.4 132

133 FL634090005 Money market fund shares 3078.2 2955.2 3120.5 3289.7 4002.5 4765.9 5205.5 5223.1 133

134 LM813164105 Corporate equity issues 4984.6 5651.8 7087.2 6644.7 8103.6 9355.8 12445.2 11114.6 134

135 LM653164205 Mutual fund shares 12897.2 13615.6 15899.0 14669.8 17659.5 19562.6 22208.8 17333.4 135

136 FL403192405 Equity in government-sponsored enterprises (3) 44.2 46.9 51.1 52.2 48.6 41.8 40.9 60.8 136

137 FL803192105 Foreign direct investment in the U.S.: equity 309.1 230.2 288.6 261.0 428.8 522.6 707.7 540.9 137

138 LM662090003 Equity in noncorporate business 50.4 67.7 68.7 78.2 83.5 90.3 106.1 109.8 138

139 FL803194605 Equity investment by parent 400.9 378.3 270.8 320.1 260.3 248.1 195.8 326.5 139

140 FL503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 112.5 21.3 15.4 140

141 FL813196005 Other accounts payable 1946.9 2098.5 2100.3 2035.3 2160.5 2418.9 3078.2 3231.5 141

142 FL852090095 Net worth 458.2 427.0 -71.5 381.8 80.9 -58.9 -1102.2 -508.3 142

(1) Includes the following sectors as defined in the Financial Accounts of the United States: Money Market Funds; Mutual Funds; Closed-End Funds; Exchange-Traded Funds;

 Government-Sponsored Enterprises; Agency- and GSE-Backed Mortgage Pools; Issuers of Asset-Backed Securities; Finance Companies; Mortgage REITs; Security Brokers and Dealers;

 Holding Companies; Other Financial Business.

(2) 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.

(3) 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 2004:Q4.

(4) 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 transactions, and other statistical differences between the capital and financial accounts.

(5) Excludes land. Includes corporate and noncorporate financial business.
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 Current account

 1 FA316902505 Gross value added 740.5 754.1 772.8 803.1 825.5 865.8 907.2 951.4 1

 2 FA316300001 Less: Consumption of fixed capital 272.4 273.7 280.2 290.2 299.2 309.4 326.0 350.8 2

 3 FA316902605 Equals: Net value added 468.1 480.4 492.6 513.0 526.3 556.3 581.2 600.5 3

 4 FA316025001 Compensation of employees (paid) 469.0 479.7 489.5 509.6 525.0 551.1 572.8 592.9 4

 5 FA316020001 Wages and salaries 330.5 336.4 344.1 357.3 365.5 381.8 393.0 404.4 5

 6 FA316401005 Employers’ social contributions 138.6 143.4 145.4 152.4 159.5 169.2 179.8 188.5 6

 7 FA316402101 Operating surplus, net -0.9 0.7 3.1 3.3 1.3 5.3 8.4 7.6 7

 8 FA316140005 Net national income/Balance of primary incomes, net -183.8 -236.9 -262.6 -314.9 -363.6 -898.4 -727.3 -535.9 8

 9 FA316402101 Operating surplus, net -0.9 0.7 3.1 3.3 1.3 5.3 8.4 7.6 9

10 FA316240001 Taxes on production and imports, receivable 141.9 137.3 131.4 163.5 174.9 155.3 178.6 194.2 10

11 FA316402015 Subsidies (paid) -56.7 -61.2 -59.3 -62.7 -72.4 -656.2 -479.6 -126.8 11

12 FA316150195 Property income (received) 161.2 140.7 138.9 121.7 110.0 118.6 139.9 114.8 12

13 FA316130101 Interest 28.1 29.6 29.2 34.8 37.8 26.1 21.6 21.8 13

14 FA316121185 Distributed income of corporations (dividends) 126.4 106.3 103.7 79.0 63.8 87.0 109.2 76.1 14

15 FA316112101 Rents on land and natural resources 6.7 4.8 6.1 7.9 8.3 5.4 9.1 16.8 15

16 FA316130095 Less: Uses of property income (interest paid) 429.3 454.3 476.7 540.6 577.4 521.4 574.6 725.7 16

17 FA316140005 Net national income/Balance of primary incomes, net -183.8 -236.9 -262.6 -314.9 -363.6 -898.4 -727.3 -535.9 17

18 FA316220001 Plus: Current taxes on income, wealth, etc. (received) 1883.8 1883.9 1868.4 1865.0 1938.3 2002.9 2460.3 2908.1 18

19 FA316601001 Plus: Social benefits (received) 1190.8 1224.4 1284.3 1346.6 1409.3 1434.6 1541.1 1685.0 19

20 FA316404001 Less: Social contributions (paid) 1990.3 2045.2 2119.6 2217.6 2349.8 3401.1 3686.0 2919.4 20

21 FA316403105 Plus: Other current transfers (received) 71.6 73.8 77.6 83.0 70.4 58.5 60.4 66.7 21

22 FA316403001 Less: Other current transfers (paid) 577.9 605.0 606.4 634.1 659.3 932.3 1172.0 1037.7 22

23 FA316012005 Equals: Disposable income, net 394.3 295.0 241.7 128.0 45.3 -1735.8 -1523.6 166.8 23

24 FA316901001 Less: Final consumption expenditures 951.7 962.3 978.5 1034.4 1089.7 1158.6 1216.4 1229.0 24

25 FA316006085 Equals: Net saving -557.4 -667.3 -736.8 -906.4 -1044.4 -2894.4 -2739.9 -1062.2 25

 Capital account

26 FA316006385 Net saving less capital transfers -617.4 -727.8 -572.3 -967.0 -1123.4 -2967.9 -2861.1 -1246.0 26

27 FA316006085 Net saving -557.4 -667.3 -736.8 -906.4 -1044.4 -2894.4 -2739.9 -1062.2 27

28 FA315440005 Less: Capital transfers paid (net) 59.9 60.5 -164.5 60.6 79.0 73.4 121.2 183.8 28

29 FA315050905 Capital formation, net -32.3 -7.6 5.1 20.1 31.4 52.5 42.9 -52.4 29

 Gross fixed capital formation (acquisition of

30 FA315019001 produced nonfinancial assets) 271.0 275.0 287.6 311.9 332.5 364.8 378.0 406.5 30

31 FA316300001 Less: Consumption of fixed capital 272.4 273.7 280.2 290.2 299.2 309.4 326.0 350.8 31

32 FA315420003 Acquisition of nonproduced nonfinancial assets -30.9 -8.9 -2.2 -1.6 -1.9 -2.8 -9.0 -108.1 32

33 FA315000995 Net lending (+) or borrowing (-), capital account (lines 26-29) -585.1 -720.3 -577.4 -987.2 -1154.7 -3020.4 -2904.0 -1193.6 33

 Financial account

34 FA315000995 Net lending (+) or borrowing (-) (line 33) -585.1 -720.3 -577.4 -987.2 -1154.7 -3020.4 -2904.0 -1193.6 34

35 FA314090005 Net acquisition of financial assets 226.8 195.9 114.6 324.4 72.2 1722.8 -1242.7 125.2 35

36 FA313011105 Monetary gold and SDRs 0.0 0.7 0.1 0.2 0.2 0.1 113.7 5.0 36

37 FA313011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 FA313011303 SDR holdings 0.0 0.7 0.1 0.2 0.2 0.1 113.7 5.0 38

39 FA314000005 Currency and deposits 103.5 67.0 -171.6 178.5 5.7 1333.8 -1322.1 42.4 39

40 FA313011505 Official foreign currencies 0.1 0.0 0.0 0.0 0.1 0.0 -0.1 0.0 40

41 FA313011405 Reserve position in IMF (net) -6.5 1.5 -1.8 4.8 4.3 8.8 0.5 0.8 41

42 FA313020005 Currency and transferable deposits 110.4 65.7 -170.2 173.5 1.0 1326.3 -1323.6 42.6 42

43 FA313030003 Time and savings deposits -0.5 -0.2 0.4 0.1 0.3 -1.3 1.1 -1.0 43

44 FA313091105 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 44

45 FA314022005 Debt securities -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 FA313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 FA313063763 Corporate and foreign bonds -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 FA314023005 Loans 106.6 98.0 95.7 99.2 93.5 254.1 177.9 155.0 48

49 FA314041005 Short term 106.8 94.7 95.6 95.7 92.9 250.7 171.9 141.6 49

50 FA313066220 Consumer credit 103.4 99.6 96.3 90.7 83.0 61.7 55.4 51.0 50

51 FA313069005 Other loans and advances 3.4 -4.9 -0.7 5.0 9.9 189.0 116.6 90.7 51

52 FA313065005 Long term (mortgages) -0.2 3.3 0.1 3.4 0.7 3.4 6.0 13.4 52

53 FA313081105 Equity and investment fund shares 2.1 1.7 1.4 5.3 1.4 115.8 -91.6 -3.5 53

54 FA313064105 Corporate equities -0.0 -0.1 -0.1 4.0 0.0 0.0 -0.0 0.0 54

55 FA313092803 Equity in international organizations 2.1 1.7 1.5 1.3 1.4 1.8 1.2 2.4 55

56 FA313092403 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 FA313094303 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

58 FA313094205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 114.0 -92.7 -5.9 58
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59 FA313096005 Other accounts receivable 14.7 28.5 189.0 41.3 -28.6 18.9 -120.7 -73.7 59

60 FA313070000 Trade receivables 12.7 3.8 0.1 10.4 -1.9 11.3 10.6 1.9 60

61 FA313078000 Taxes receivable 2.0 24.7 188.9 30.9 -26.7 7.6 -131.3 -75.5 61

62 FA314190005 Net incurrence of liabilities 755.7 883.2 634.5 1294.4 1185.8 5019.0 1445.9 1394.3 62

63 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 112.8 0.0 63

64 FA314100005 Currency and deposits -0.6 -0.6 -0.3 -0.3 -0.5 -0.0 -0.1 -0.4 64

65 FA314122005 Debt securities 724.6 842.7 447.0 1409.8 1174.9 4581.2 1683.4 1546.9 65

66 FA313161105 Treasury securities 724.4 842.8 447.0 1411.2 1176.6 4582.2 1683.8 1546.9 66

67 FA313161705 Federal agency securities 0.2 -0.1 -0.1 -1.5 -1.7 -1.0 -0.4 0.0 67

68 FA314123005 Loans 0.0 0.0 151.7 -151.7 0.0 0.0 0.0 0.0 68

69 FA313152005 Insurance, pension and standardized guarantee schemes 13.6 6.0 15.3 -39.1 -25.7 -26.1 -73.1 -124.5 69

70 FA313140003 Insurance reserves -0.1 0.1 -0.2 0.2 0.9 0.2 0.3 0.4 70

71 FA313195105 Retiree Health Care Funds 7.4 12.9 9.6 13.9 14.4 8.2 21.4 38.5 71

72 FA343073045 Claims of pension fund on sponsor 6.4 -7.0 6.0 -53.2 -41.0 -34.5 -94.8 -163.3 72

73 FA313196005 Other accounts payable 18.1 35.2 20.7 75.6 37.2 463.9 -277.1 -27.6 73

74 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 74

75 FA313170005 Trade payables 14.5 29.4 17.5 74.0 33.3 35.0 57.8 47.2 75

76 FA313172003 PPP subsidies payable 0.0 0.0 0.0 0.0 0.0 432.7 -332.6 -97.1 76

77 FA313193005 Other (miscellaneous liabilities) 3.5 5.8 3.2 1.6 3.9 -3.8 -2.3 22.3 77

 Addendum:

78 FA315000005 Net lending (+) or borrowing (-), financial account (lines 35-62) -528.9 -687.4 -519.9 -969.9 -1113.6 -3296.3 -2688.7 -1269.1 78

 Other changes in volume account

79 FV318090185 Total other volume changes 112.1 56.6 134.0 2.2 -37.8 -246.3 379.6 1119.5 79

80 FV312010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 FV318090085 Other volume changes 55.9 23.7 76.4 -15.0 -79.0 29.6 164.3 1195.1 81

82 FU317005045 Less: Statistical discrepancy (lines 33-78) (3) -56.2 -32.9 -57.6 -17.2 -41.2 275.9 -215.4 75.5 82

 Revaluation account

83 FR312010095 Nonfinancial assets 3.8 68.2 90.1 102.9 51.0 92.2 266.8 258.8 83

84 FR315015605 Structures 14.7 47.1 57.0 68.5 39.9 55.6 206.6 187.6 84

85 FR315013265 Equipment -2.7 5.8 7.5 12.5 5.8 6.9 37.8 41.4 85

86 FR315013765 Intellectual property products -8.3 15.2 25.6 21.9 5.3 29.7 22.3 29.8 86

87 FR318080005 Financial assets -3.3 -2.1 4.0 -5.7 -0.4 3.5 -4.0 -9.7 87

88 FR313011105 Monetary gold and SDRs -2.3 -1.5 2.9 -1.2 -0.3 2.1 -3.0 -8.1 88

89 FR314000005 Currency and deposits -1.1 -0.6 1.1 -0.4 -0.1 1.4 -1.0 -1.7 89

90 FR313064105 Corporate equities 0.0 0.0 0.0 -4.0 0.0 0.0 0.0 0.0 90

91 FR313094303 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 91

92 FR313111303 Liabilities (SDR allocations) -2.2 -1.5 2.8 -1.2 -0.3 2.0 -2.9 -7.9 92

93 FR318200005 Changes in net worth due to nominal holding gains/losses 2.6 67.6 91.3 98.4 50.9 93.7 265.7 256.9 93

 Changes in balance sheet account

94 FC312090095 Change in net worth (lines 29+33+79+93) -502.7 -603.6 -347.0 -866.4 -1110.3 -3120.5 -2215.8 130.5 94

 Balance sheet account (end of period)

95 FL312000095 Total assets 5304.6 5561.3 5826.8 6268.7 6369.1 8298.4 7536.4 8034.0 95

96 LM312010095 Nonfinancial assets (4) 3255.7 3325.2 3422.7 3547.2 3631.6 3779.2 4098.2 4412.6 96

97 LM315015605 Structures 1517.4 1556.6 1603.3 1663.1 1697.4 1750.5 1949.2 2128.3 97

98 LM315013265 Equipment 745.0 752.4 765.9 790.3 816.7 846.0 901.2 950.6 98

99 LM315013765 Intellectual property products 993.3 1016.3 1053.5 1093.8 1117.5 1182.7 1247.7 1333.8 99

100 FL314090005 Financial assets 2048.9 2236.1 2404.1 2721.4 2737.5 4519.2 3438.2 3621.4 100

101 FL313011105 Monetary gold and SDRs 49.7 48.9 51.9 50.8 50.8 52.9 163.6 160.5 101

102 FL313011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102

103 FL313011303 SDR holdings 49.7 48.9 51.9 50.8 50.7 52.9 163.6 160.5 103
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104 FL314000005 Currency and deposits 379.7 446.1 275.6 453.7 459.2 1794.4 471.3 512.1 104

105 FL313011505 Official foreign currencies 19.5 19.3 21.2 20.8 20.6 22.1 20.2 18.4 105

106 FL313011405 Reserve position in IMF (net) 17.7 18.7 17.9 22.3 26.4 36.6 36.1 35.2 106

107 FL313020005 Currency and transferable deposits 338.1 404.0 232.0 405.9 407.2 1732.1 410.3 454.7 107

108 FL313030003 Time and savings deposits 1.8 1.5 1.9 2.0 2.3 1.0 2.1 1.1 108

109 FL313091105 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 109

110 FL314022005 Debt securities 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 110

111 FL313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 111

112 FL313063763 Corporate and foreign bonds 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 112

113 FL314023005 Loans 1287.5 1385.5 1481.2 1580.4 1673.9 1928.0 2105.9 2282.4 113

114 FL314041005 Short term 1171.2 1265.9 1361.5 1457.3 1550.1 1800.9 1972.8 2114.4 114

115 FL313066220 Consumer credit 949.7 1049.3 1145.6 1236.3 1319.2 1381.0 1436.4 1487.3 115

116 FL313069005 Other loans and advances 221.6 216.6 216.0 221.0 230.9 419.9 536.4 627.1 116

117 FL313065005 Long term (mortgages) 116.3 119.6 119.7 123.1 123.8 127.1 133.1 168.0 117

118 FL313081105 Equity and investment fund shares 94.9 96.6 98.0 99.3 100.6 216.5 124.9 121.4 118

119 LM313064105 Corporate equities 33.4 33.3 33.2 33.2 33.2 33.2 33.2 33.2 119

120 FL313092803 Equity in international organizations 61.5 63.3 64.8 66.1 67.5 69.3 70.5 72.9 120

121 FL313092403 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 121

122 LM313094303 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 FL313094205 Equity investment in Federal Reserves facilities 0.0 0.0 0.0 0.0 0.0 114.0 21.3 15.4 123

124 FL313096005 Other accounts receivable 236.6 258.5 496.9 536.8 452.5 526.9 571.9 544.5 124

125 FL313070000 Trade receivables 61.2 64.9 65.0 75.4 73.5 84.9 95.5 97.3 125

126 FL313078000 Taxes receivable 175.4 193.5 431.9 461.4 379.0 442.0 476.5 447.1 126

127 FL312000095 Total liabilities and net worth 5304.6 5561.3 5826.8 6268.7 6369.1 8298.4 7536.4 8034.0 127

128 FL314190005 Liabilities 17555.2 18415.5 19028.0 20336.3 21547.0 26596.8 28050.6 28417.7 128

129 FL313111303 SDR allocations 48.9 47.5 50.3 49.1 48.8 50.9 160.8 152.9 129

130 FL314100005 Currency and deposits 24.8 24.2 24.0 23.7 23.2 23.1 23.0 22.6 130

131 FL314122005 Debt securities 15165.6 16008.3 16455.3 17865.0 19039.9 23621.1 25304.5 26851.4 131

132 FL313161105 Treasury securities 15141.1 15983.8 16430.9 17842.1 19018.7 23600.9 25284.7 26831.6 132

133 FL313161705 Federal agency securities 24.6 24.5 24.4 22.9 21.2 20.2 19.8 19.8 133

134 FL314123005 Loans 0.0 0.0 151.7 0.0 0.0 0.0 0.0 0.0 134

135 FL313152005 Insurance, pension and standardized guarantee schemes 2048.1 2039.0 2033.2 2011.1 2014.6 2013.2 1948.6 827.1 135

136 FL313140003 Insurance reserves 51.1 51.3 51.1 51.3 52.2 52.4 52.6 53.0 136

137 FL313195105 Retiree Health Care Funds 264.7 277.6 287.1 301.0 315.4 323.6 345.1 383.6 137

138 FL343073045 Claims of pension fund on sponsor 1732.3 1710.1 1695.0 1658.8 1647.0 1637.2 1550.9 390.6 138

139 FL313196005 Other accounts payable 267.7 296.5 313.5 387.3 420.5 888.5 613.7 563.7 139

140 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 140

141 FL313170005 Trade payables 261.4 290.7 308.2 382.3 415.5 450.6 508.4 555.6 141

142 FL313172003 PPP subsidies payable 0.0 0.0 0.0 0.0 0.0 432.7 100.1 3.0 142

143 FL313193013 Other (miscellaneous liabilities) 1.2 0.6 0.1 -0.2 -0.2 0.0 0.0 0.0 143

144 FL312090095 Net worth -12250.6 -12854.2 -13201.2 -14067.6 -15177.9 -18298.4 -20514.2 -20383.7 144

(1) The federal government sector excludes federal government employee retirement funds.

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land and nonproduced nonfinancial assets.
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 Current account

 1 FA216902505 Gross value added 1628.0 1663.7 1708.3 1782.5 1834.5 1891.0 1950.8 2045.1 1

 2 FA216300001 Less: Consumption of fixed capital 252.6 258.8 269.7 285.2 298.9 308.4 333.0 371.5 2

 3 FA216902605 Equals: Net value added 1375.4 1404.8 1438.6 1497.3 1535.6 1582.6 1617.8 1673.6 3

 4 FA216025001 Compensation of employees (paid) 1377.3 1407.7 1445.9 1505.2 1548.9 1589.7 1631.2 1676.7 4

 5 FA216020001 Wages and salaries 945.3 971.7 1004.1 1044.6 1085.1 1112.5 1153.3 1218.0 5

 6 FA216401005 Employers’ social contributions 432.0 436.0 441.8 460.6 463.8 477.2 477.9 458.7 6

 7 FA216402101 Operating surplus, net -1.9 -2.8 -7.3 -7.9 -13.3 -7.1 -13.3 -3.2 7

 8 FA216140005 Net national income/Balance of primary incomes, net 941.1 968.0 1020.8 1092.4 1134.6 1158.3 1289.8 1461.8 8

 9 FA216402101 Operating surplus, net -1.9 -2.8 -7.3 -7.9 -13.3 -7.1 -13.3 -3.2 9

10 FA216240001 Taxes on production and imports, receivable 1131.6 1171.9 1232.5 1293.6 1358.2 1365.2 1493.3 1616.0 10

11 FA216402015 Subsidies (paid) -0.5 -0.5 -0.6 -0.6 -0.6 -0.6 -3.1 -0.7 11

12 FA216150195 Property income (received) 80.7 82.3 87.1 93.2 96.5 94.8 93.8 97.6 12

13 FA216130101 Interest 64.1 65.8 70.6 75.8 78.4 77.7 75.8 78.7 13

14 FA216121101 Distributed income of corporations (dividends) 5.4 5.7 5.8 6.0 6.5 6.2 6.3 6.6 14

15 FA216112101 Rents on land and natural resources 11.1 10.8 10.7 11.4 11.6 10.9 11.7 12.4 15

16 FA216130095 Less: Uses of property income (interest paid) 268.7 282.8 290.9 286.0 306.2 293.9 280.9 248.0 16

17 FA216140005 Net national income/Balance of primary incomes, net 941.1 968.0 1020.8 1092.4 1134.6 1158.3 1289.8 1461.8 17

18 FA216220005 Plus: Current taxes on income, wealth, etc. (received) 464.4 464.0 490.2 520.0 571.4 575.9 704.9 791.5 18

19 FA216601001 Plus: Social benefits (received) 19.2 20.0 19.8 20.4 20.7 20.0 22.2 22.5 19

20 FA216404001 Less: Social contributions (paid) 665.3 693.1 709.7 731.1 762.7 815.7 900.7 1012.3 20

21 FA216403105 Plus: Other current transfers (received) 676.3 690.0 691.2 723.8 755.4 1029.3 1277.0 1138.0 21

22 FA216403001 Less: Other current transfers (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA216012005 Equals: Disposable income, net 1435.7 1448.9 1512.4 1625.4 1719.3 1967.8 2393.3 2401.4 23

24 FA216901001 Less: Final consumption expenditures 1652.2 1691.1 1737.2 1825.3 1925.2 2019.7 2149.9 2341.1 24

25 FA216006095 Equals: Net saving -216.6 -242.2 -224.8 -199.9 -205.9 -51.9 243.4 60.4 25

 Capital account

26 FA216006395 Net saving less capital transfers -146.8 -169.7 -152.4 -126.7 -131.1 31.9 326.3 290.1 26

27 FA216006095 Net saving -216.6 -242.2 -224.8 -199.9 -205.9 -51.9 243.4 60.4 27

28 FA215440005 Less: Capital transfers paid (net) -69.8 -72.5 -72.4 -73.1 -74.8 -83.8 -82.9 -229.8 28

29 FA215050905 Capital formation, net 117.6 128.7 138.5 150.1 160.6 160.7 134.1 117.8 29

 Gross fixed capital formation (acquisition of

30 FA215019001 produced nonfinancial assets) 358.4 374.6 393.9 418.8 442.5 451.7 448.8 470.2 30

31 FA216300001 Less: Consumption of fixed capital 252.6 258.8 269.7 285.2 298.9 308.4 333.0 371.5 31

32 FA215420003 Acquisition of nonproduced nonfinancial assets 11.9 12.9 14.3 16.5 17.0 17.4 18.3 19.1 32

33 FA215000995 Net lending (+) or borrowing (-), capital account (lines 26-29) -264.4 -298.3 -290.9 -276.8 -291.7 -128.8 192.2 172.3 33

 Financial account

34 FA215000995 Net lending (+) or borrowing (-) (line 33) -264.4 -298.3 -290.9 -276.8 -291.7 -128.8 192.2 172.3 34

35 FA214090005 Net acquisition of financial assets 76.5 171.0 85.6 68.6 24.9 347.7 588.7 396.6 35

36 FA214000005 Currency and deposits 5.5 14.1 11.7 0.3 25.9 81.3 85.1 2.2 36

37 FA213020005 Currency and transferable deposits -8.6 5.9 -2.5 -7.6 6.2 90.8 115.9 14.6 37

38 FA213030000 Time and savings deposits 14.2 8.2 14.1 7.9 19.8 -9.5 -30.8 -12.4 38

39 FA214022005 Debt securities 26.7 105.7 56.1 8.9 35.7 219.8 332.4 336.3 39

40 FA213069103 Open market paper -3.3 0.5 4.2 0.5 -0.6 -0.4 4.0 4.0 40

41 FA213061105 Treasury securities 16.8 72.3 17.7 -12.4 51.4 291.3 383.9 300.1 41

42 FA213061703 Agency- and GSE-backed securities (2) -4.0 25.8 26.0 5.6 2.4 -71.4 -39.8 36.3 42

43 FA213062003 Municipal securities 0.5 1.0 0.5 0.5 -0.9 1.5 3.8 6.4 43

44 FA213063003 Corporate and foreign bonds 16.7 6.1 7.7 14.6 -16.6 -1.2 -19.5 -10.5 44

45 FA214035005 Loans 17.4 19.3 23.3 3.2 -3.3 20.7 17.7 17.7 45

46 FA212051003 Short term 7.8 7.4 8.9 1.1 -1.3 15.7 10.0 10.0 46

47 FA213065005 Long term (mortgages) 9.6 11.9 14.4 2.1 -1.9 5.0 7.7 7.7 47

48 FA213081005 Equity and investment fund shares -2.4 3.2 -1.9 -4.3 4.6 11.3 13.1 7.6 48

49 FA213034003 Money market fund shares -0.2 5.4 0.3 -2.1 6.8 13.5 15.3 9.8 49

50 FA213064103 Corporate equities -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 50

51 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 51

52 FA213096005 Other accounts receivable 29.3 28.7 -3.6 60.5 -38.0 14.7 140.4 32.7 52

53 FA213070003 Trade receivables 0.6 17.5 6.2 22.9 12.1 -12.8 46.0 20.4 53

54 FA213078005 Taxes receivable 5.4 10.7 5.1 19.4 8.5 9.4 29.4 11.5 54

55 FA213093003 Other (miscellaneous assets) 23.3 0.6 -15.0 18.3 -58.7 18.1 65.1 0.9 55
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56 FA214190005 Net incurrence of liabilities 229.4 320.3 250.4 231.8 308.9 406.0 379.8 255.2 56

57 FA213162005 Debt securities (municipals) 15.4 32.3 -0.6 -40.2 -2.0 91.2 69.1 -52.4 57

58 FA213162400 Short term -5.9 -2.7 4.8 2.9 6.8 1.7 -13.7 -7.5 58

59 FA213162200 Other 21.3 35.0 -5.4 -43.0 -8.8 89.5 82.8 -44.9 59

60 FA213169203 Loans (short term) 0.1 0.3 0.5 1.1 1.0 1.0 0.5 0.7 60

61 FA223073045 Insurance, pension and standardized guarantee schemes 172.6 244.8 205.8 223.2 258.5 260.4 252.8 242.0 61

 (claim of pension funds on sponsor)

62 FA213170003 Other accounts payable (trade payables) 41.2 43.0 44.7 47.7 51.4 53.4 57.5 64.9 62

 Addendum:

63 FA215000005 Net lending (+) or borrowing (-), financial account (lines 35-56) -152.9 -149.3 -164.8 -163.2 -284.0 -58.3 208.9 141.4 63

 Other changes in volume account

64 FV218090185 Total other volume changes 4.4 73.2 63.9 38.9 59.9 52.8 -85.4 802.6 64

65 FV212010095 Disaster losses 0.0 0.0 -2.1 -0.2 0.0 0.0 -4.0 -3.0 65

66 FV218090085 Other volume changes -107.2 -75.9 -60.1 -74.6 52.2 -17.7 -98.0 836.5 66

67 FU217005045 Less: Statistical discrepancy (lines 33-63) (3) -111.5 -149.1 -126.1 -113.6 -7.7 -70.5 -16.7 31.0 67

 Revaluation account

68 FR212010095 Nonfinancial assets 86.9 209.6 350.5 493.2 301.0 347.4 1404.4 1268.0 68

69 FR215015605 Structures 88.0 207.2 346.4 486.2 300.5 342.5 1383.2 1239.6 69

70 FR215013265 Equipment 0.6 0.7 2.0 4.5 0.4 2.6 18.2 20.9 70

71 FR215013765 Intellectual property products -1.7 1.7 2.1 2.5 0.1 2.3 3.1 7.5 71

72 FR213081005 Financial assets (equity and investment fund shares) -4.2 18.8 40.7 -19.3 63.5 52.0 73.8 -87.3 72

73 FR223073045 Liabilities (claim of pension funds on sponsor) 110.0 -152.6 -463.1 217.2 -584.6 -531.7 -593.9 496.6 73

74 FR218200005 Changes in net worth due to nominal holding gains/losses -27.2 380.9 854.3 256.8 949.1 931.1 2072.1 684.2 74

 Changes in balance sheet account

75 FC212090095 Change in net worth (lines 29+33+64+74) -169.6 284.5 765.7 168.9 878.0 1015.8 2313.0 1776.9 75

 Balance sheet account (end of period)

76 FL212000095 Total assets 13119.3 13625.5 14229.8 14880.6 15481.2 16411.3 18503.5 19919.9 76

77 LM212010095 Nonfinancial assets (4) 10186.7 10512.1 10984.6 11611.3 12055.9 12546.6 14063.2 15427.1 77

78 LM215015605 Structures 9820.6 10136.9 10595.4 11205.2 11641.8 12118.7 13605.1 14934.9 78

79 LM215013265 Equipment 243.0 244.1 248.2 255.0 257.1 263.3 283.9 303.7 79

80 LM215013765 Intellectual property products 123.2 131.1 140.9 151.1 157.0 164.6 174.2 188.5 80

81 FL214090005 Financial assets 2932.5 3113.4 3245.2 3269.4 3425.3 3864.7 4440.3 4492.8 81

82 FL214000005 Currency and deposits 510.2 524.4 536.0 536.3 562.2 643.5 728.6 730.8 82

83 FL213020005 Currency and transferable deposits 137.1 143.0 140.6 132.9 139.1 229.9 345.7 360.4 83

84 FL213030000 Time and savings deposits 373.2 381.3 395.5 403.4 423.2 413.6 382.9 370.5 84

85 FL214022005 Debt securities 1392.0 1489.2 1551.2 1535.2 1638.6 1898.1 2151.8 2231.3 85

86 FL213069103 Open market paper 73.0 73.4 77.7 78.2 77.6 77.1 81.1 85.2 86

87 FL213061105 Treasury securities 653.8 717.3 735.0 713.2 793.1 1111.9 1440.7 1563.3 87

88 FL213061703 Agency- and GSE-backed securities (2) 463.6 486.7 514.7 518.4 539.3 466.5 415.3 410.1 88

89 FL213062003 Municipal securities 15.0 15.8 16.7 16.8 16.7 18.6 22.2 25.9 89

90 FL213063003 Corporate and foreign bonds 186.6 195.9 207.2 208.6 211.9 223.9 192.4 146.9 90

91 FL214035005 Loans 378.8 397.7 420.5 423.5 420.1 440.7 458.2 475.8 91

92 FL212051003 Short term 147.5 154.8 163.7 164.9 163.6 179.2 189.2 199.3 92

93 FL213065005 Long term (mortgages) 231.3 242.8 256.8 258.6 256.5 261.4 269.0 276.6 93

94 FL213081005 Equity and investment fund shares 234.2 256.3 295.1 271.5 339.6 402.8 489.7 410.0 94

95 FL213034003 Money market fund shares 16.2 21.6 21.9 19.8 26.5 40.0 55.3 65.1 95

96 LM213064103 Corporate equities 147.7 159.4 185.8 169.6 214.1 250.0 306.4 239.3 96

97 LM213064203 Mutual fund shares 70.4 75.3 87.4 82.2 98.9 112.8 128.0 105.6 97

98 FL213096005 Other accounts receivable 417.2 445.9 442.3 502.8 464.8 479.6 612.0 644.7 98

99 FL213070003 Trade receivables 183.7 201.2 207.4 230.3 242.4 229.6 275.5 295.9 99

100 FL213078005 Taxes receivable 134.9 145.6 150.7 170.1 178.6 188.1 209.5 220.9 100

101 FL213093003 Other (miscellaneous assets) 98.6 99.2 84.2 102.5 43.8 61.9 127.0 127.9 101
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102 FL212100005 Total liabilities and net worth 13119.3 13625.5 14229.8 14880.6 15481.2 16411.3 18503.5 19919.9 102

103 FL214190005 Liabilities 8069.4 8291.2 8129.7 8611.7 8334.3 8248.6 8027.8 7667.3 103

104 FL213162005 Debt securities (municipals) 3110.9 3143.2 3142.6 3102.4 3100.4 3191.7 3260.7 3208.3 104

105 FL213162400 Short term 33.1 30.4 35.2 38.1 44.9 46.6 32.9 25.5 105

106 FL213162200 Other 3077.8 3112.8 3107.4 3064.4 3055.6 3145.1 3227.8 3182.9 106

107 FL213169203 Loans (short term) 18.2 18.5 18.9 20.1 21.1 22.1 22.6 23.3 107

108 FL223073045 Insurance, pension and standardized guarantee schemes 4075.3 4221.6 4015.6 4488.9 4161.1 3929.8 3582.0 3208.3 108

 (claim of pension funds on sponsor)

109 FL213170003 Other accounts payable (trade payables) 864.9 907.9 952.6 1000.3 1051.6 1105.0 1162.5 1227.3 109

110 FL212090095 Net worth 5049.8 5334.3 6100.1 6268.9 7146.9 8162.7 10475.8 12252.6 110

(1) The state and local government sector excludes state and local government employee retirement funds.

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land and nonproduced nonfinancial assets.
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 Current account

 1 FA266905095 Foreign income from U.S. 3692.4 3676.5 3963.1 4271.8 4323.6 3885.3 4690.3 5427.5 1

 2 FA266903001 U.S. imports of goods and services 2794.9 2738.8 2931.6 3131.2 3117.0 2776.5 3408.3 3966.2 2

 3 FA266904195 U.S. income payments to rest of world 640.5 661.5 738.2 848.4 892.8 778.1 928.6 1070.7 3

 4 FA266400101 Current taxes and trans. payments to rest of world 257.0 276.1 293.4 292.3 313.8 330.7 353.4 390.6 4

 5 FA266900095 Less: Foreign outlays to U.S. 3269.3 3275.1 3585.1 3830.7 3875.2 3315.6 3842.5 4441.7 5

 6 FA266903011 U.S. exports of goods and services 2270.6 2235.6 2388.3 2538.1 2538.5 2150.1 2550.0 2995.0 6

 7 FA266904095 U.S. income receipts from rest of world 860.6 892.9 1031.1 1138.7 1174.7 993.0 1112.1 1252.6 7

 8 FA266400201 Current taxes and trans. receipts from rest of world (1) 138.1 146.7 165.7 153.9 162.0 172.5 180.3 194.0 8

 9 FA266000095 Equals: Net saving (current external balance) 423.1 401.4 378.0 441.2 448.4 569.7 847.8 985.8 9

 Capital account

10 FA266000095 Net saving 423.1 401.4 378.0 441.2 448.4 569.7 847.8 985.8 10

11 FA265440005 Less: Net capital transfers -8.4 -7.0 -16.0 -4.6 -6.8 -6.3 -3.5 -5.1 11

12 FA265420095 Less: Acquisition of nonproduced nonfinancial assets 0.0 0.0 -0.0 -0.1 -0.1 0.2 -0.2 -0.2 12

13 FA265000905 Net lending (+) or borrowing (-), capital account (lines 10-11-12) 431.4 408.4 394.0 445.8 455.3 575.8 851.5 991.1 13

 Financial account

14 FA265000905 Net lending (+) or borrowing (-) (line 13) 431.4 408.4 394.0 445.8 455.3 575.8 851.5 991.1 14

15 FA264090005 Net acquisition of U.S. financial assets 691.4 760.0 1531.3 778.4 605.5 1454.8 1828.4 1524.9 15

16 FA263011005 Monetary gold and SDRs 0.0 0.0 0.0 0.0 0.0 0.0 112.8 0.0 16

17 FA263011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 112.8 0.0 18

19 FA264000005 Currency and deposits -45.6 -13.1 201.9 165.8 -26.3 280.9 174.1 194.0 19

20 FA263025003 Currency 38.4 42.3 69.7 65.3 51.3 121.3 48.3 35.0 20

21 FA263027003 Transferable deposits -5.7 17.8 11.9 14.2 7.7 34.7 18.1 -21.5 21

22 FA263030005 Time deposits -18.6 70.8 16.4 37.4 -2.1 95.4 37.2 -12.6 22

23 FA264016005 Net interbank items due from U.S. banks -59.6 -144.0 104.0 48.9 -83.3 29.4 70.5 193.0 23

24 FA264022005 Debt securities 406.5 341.6 652.5 141.9 545.0 244.8 672.3 842.4 24

25 FA263069103 Open market paper -2.3 36.9 -6.3 -10.2 5.4 -46.2 2.0 53.8 25

26 FA263061105 Treasury securities 42.7 -107.9 308.2 120.2 297.7 67.0 605.8 417.6 26

27 FA263061705 Agency- and GSE-backed securities (2) 24.8 79.1 22.0 95.7 81.9 5.7 -9.8 192.9 27

28 FA263062003 Municipal securities 6.5 7.2 7.1 -1.6 4.0 4.8 1.7 4.2 28

29 FA263063005 Corporate bonds 334.9 326.3 321.5 -62.2 156.0 213.4 72.7 173.9 29

30 FA264035005 Loans 115.3 184.5 124.3 -64.0 80.1 -9.9 429.5 170.7 30

31 FA264041005 Short term 57.7 78.7 132.5 38.5 100.4 51.9 429.9 142.1 31

32 FA262051005 Security repurchases -21.2 68.7 31.3 -31.3 22.4 18.0 283.4 48.8 32

33 FA263069005 Other loans and advances 78.9 10.0 101.2 69.9 77.9 33.9 146.5 93.3 33

34 FA263092305 Long term (U.S. direct investment abroad: debt) 57.5 105.8 -8.2 -102.5 -20.3 -61.8 -0.5 28.6 34

35 FA263081005 Equity and investment fund shares 239.0 234.5 483.0 475.9 -14.5 862.4 358.2 265.7 35

36 FA263034003 Money market fund shares 2.3 -14.3 0.1 17.3 7.4 18.9 27.5 19.3 36

37 FA263064105 Corporate equities -191.4 -186.3 116.9 110.9 -249.2 669.2 -112.4 -167.2 37

38 FA263064203 Mutual fund shares 1.8 60.9 32.6 28.7 -49.7 -0.7 31.8 78.1 38

39 FA263092101 Foreign direct investment in the U.S.: equity 426.3 374.2 333.3 318.9 277.0 174.9 411.3 335.5 39

40 FA263052005 Insurance, pension and standardized guarantee schemes -3.8 13.4 13.5 10.9 2.9 -24.9 2.9 2.2 40

41 FA263076005 Insurance receivables due from property-casualty insurance companies 2.9 1.2 10.4 9.1 2.0 -2.1 6.0 1.5 41

42 FA543141905 Life insurance reserves -4.6 11.0 2.7 -9.3 0.3 -9.1 -1.4 0.1 42

43 FA543151905 Pension entitlements -2.0 1.2 0.4 11.0 0.6 -13.6 -1.6 0.5 43

44 FA263096005 Other accounts receivable -20.0 -0.9 56.2 48.0 18.2 101.6 78.6 49.9 44

45 FA264194005 Net incurrence of liabilities 273.0 449.2 1156.0 536.9 244.1 1001.7 1255.7 1044.9 45

46 FA313011303 SDR holdings 0.0 0.7 0.1 0.2 0.2 0.1 113.7 5.0 46

47 FA264100005 Currency and deposits -242.1 -83.4 255.2 71.2 21.8 110.8 28.2 78.7 47

48 FA263111503 Official foreign currencies 0.2 0.1 0.0 0.0 0.2 0.1 -0.2 0.0 48

49 FA263111403 Reserve position in IMF (net) -6.5 1.3 -1.8 4.8 4.3 8.8 0.5 0.8 49

50 FA263191005 U.S. private deposits -235.8 -84.8 257.0 66.4 17.3 102.0 27.9 77.9 50

51 FA313091105 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 51

52 FA264122005 Debt securities -84.6 7.0 355.6 191.9 -23.5 38.8 482.5 166.0 52

53 FA263169105 Commercial paper -7.0 -28.2 68.3 74.4 -22.6 -19.0 105.0 -113.8 53

54 FA263163005 Bonds -77.5 35.1 287.3 117.6 -0.9 57.8 377.5 279.8 54

55 FA264135005 Loans 125.9 132.8 -49.9 252.1 88.6 94.1 -33.8 67.4 55

56 FA264141005 Short term 143.8 153.1 -11.1 161.8 204.9 134.2 30.2 108.8 56
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57 FA262151003 Security repurchases 80.8 115.9 -33.1 117.3 111.2 55.5 -106.1 -11.9 57

58 FA263169005 Other loans and advances 0.7 -1.5 2.8 -5.8 7.0 -1.8 -1.7 9.3 58

59 FA263168005 Depository institution loans n.e.c. 62.9 34.1 12.7 58.2 87.1 66.3 152.5 114.3 59

60 FA713091103 Nonoff. foreign currencies (swap lines) -0.5 4.6 6.5 -7.9 -0.5 14.2 -14.5 -2.9 60

61 FA263192305 Long term (foreign direct investment in the U.S.: debt) -18.0 -20.3 -38.8 90.3 -116.3 -40.1 -64.0 -41.4 61

62 FA263181105 Equity and investment fund shares 491.5 349.2 533.9 -46.7 148.0 699.4 574.2 631.7 62

63 FA263164100 Corporate equities 196.9 21.7 139.9 171.3 -25.3 396.0 197.3 185.7 63

64 FA313092803 U.S. government equity in IBRD, etc. 2.1 1.7 1.5 1.3 1.4 1.8 1.2 2.4 64

65 FA263192101 U.S. direct investment abroad: equity 292.5 325.7 392.5 -219.3 171.9 301.6 375.8 443.6 65

66 FA263152005 Insurance, pension and standardized guarantee schemes 9.9 21.9 47.4 27.5 11.2 65.0 81.6 89.6 66

67 FA263196005 Other accounts payable -27.7 21.1 13.7 40.7 -2.2 -6.6 9.4 6.6 67

68 FA263170005 Trade payables 1.4 2.7 7.4 2.7 2.2 -0.4 3.4 -2.2 68

69 FA263194735 Other investment by U.S. holding companies -29.1 18.4 6.3 38.0 -4.4 -6.2 6.0 8.7 69

 Addendum:

70 FA265000005 Net lending (+) or borrowing (-), financial account (lines 15-45) 418.4 310.8 375.3 241.6 361.4 453.1 572.7 480.0 70

 Other changes in volume account

71 FV268090185 Total other volume changes -78.3 -44.7 -58.6 168.7 0.7 -99.5 433.2 -580.5 71

72 FV268090085 Other volume changes -65.3 52.9 -39.9 373.0 94.6 23.2 711.9 -69.4 72

73 FU267005085 Less: Statistical discrepancy (lines 13-70) (3) 13.0 97.6 18.7 204.3 93.9 122.7 278.7 511.1 73

 Revaluation account

74 FR264090005 Financial assets -669.3 691.6 2232.7 -1603.7 4343.5 3676.4 4940.6 -8005.4 74

75 FR263011005 Monetary gold and SDRs -2.2 -1.5 2.8 -1.2 -0.3 2.0 -2.9 -7.9 75

76 FR264000005 Currency and deposits -1.2 -0.7 2.0 -1.1 -4.1 4.6 3.6 1.4 76

77 FR264022005 Debt securities -268.3 -69.3 68.5 -359.7 527.7 628.1 -496.9 -1903.1 77

78 FR263069103 Open market paper -1.4 -0.4 1.0 -0.5 0.1 2.3 -0.0 -0.8 78

79 FR263061105 Treasury securities -56.2 -43.0 -21.7 -61.5 196.5 305.2 -210.2 -842.5 79

80 FR263061705 Agency- and GSE-backed securities -8.1 -7.0 -2.8 -22.6 38.9 34.3 -5.0 -186.3 80

81 FR263062003 Municipal securities 0.2 -1.9 2.5 -2.6 4.7 3.1 -1.3 -14.4 81

82 FR263063005 Corporate bonds -202.8 -17.0 89.4 -272.5 287.5 283.2 -280.4 -859.0 82

83 FR263092305 Foreign direct investment in the U.S.: debt 2.3 -47.4 19.3 13.4 -12.9 -8.6 -12.7 -0.0 83

84 FR263081005 Equity and investment fund shares -399.8 810.7 2139.7 -1254.8 3835.6 3053.0 5449.3 -6095.5 84

85 FR263064105 Corporate equities -170.2 439.2 1078.6 -507.1 1917.3 1630.2 2828.6 -2847.2 85

86 FR263064203 Mutual fund shares -17.9 32.8 101.9 -58.4 150.2 125.4 131.7 -227.1 86

87 FR263092101 Foreign direct investment in the U.S.: equity -211.7 338.7 959.2 -689.3 1768.0 1297.4 2488.9 -3021.2 87

88 FR263096005 Other accounts receivable -0.3 -0.2 0.4 -0.3 -2.4 -2.6 0.4 -0.3 88

89 FR264194005 Liabilities -873.0 305.0 3023.1 -2871.5 3009.6 1225.4 2229.7 -4741.6 89

90 FR313011303 SDR holdings -2.3 -1.5 2.9 -1.2 -0.3 2.1 -3.0 -8.1 90

91 FR264100005 Currency and deposits -3.0 0.1 -2.6 -2.7 0.8 2.0 -4.4 11.5 91

92 FR263111503 Official foreign currencies -2.8 -0.3 3.7 -0.8 -0.5 2.9 -3.6 -3.6 92

93 FR263111403 Reserve position in IMF (net) -1.1 -0.6 1.1 -0.4 -0.1 1.4 -1.0 -1.7 93

94 FR263191005 U.S. private deposits 0.9 1.0 -7.3 -1.4 1.5 -2.4 0.2 16.7 94

95 FR263191103 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 95

96 FR263163005 Debt securities (corporate bonds) -102.5 49.1 135.4 -98.6 240.1 196.4 -109.5 -709.7 96

97 FR264135005 Loans 4.4 -17.0 10.4 -0.9 -28.6 -7.4 -13.0 50.7 97

98 FR263169203 Short term (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 98

99 FR263192305 Long term (U.S. direct investment abroad: debt) 4.4 -17.0 10.4 -0.9 -28.6 -7.4 -13.0 50.7 99

100 FR263181105 Equity and investment fund shares -769.0 274.6 2876.3 -2767.7 2797.3 1031.9 2359.8 -4085.9 100

101 FR263164100 Corporate equities -229.3 226.8 1770.8 -1403.3 1622.3 624.3 1202.6 -1947.2 101

102 FR263192101 U.S. direct investment abroad: equity -539.7 47.8 1105.5 -1364.4 1175.0 407.6 1157.2 -2138.8 102

103 FR263152005 Insurance, pension and standardized guarantee schemes 0.0 0.0 0.0 -0.0 0.2 -0.0 0.0 -0.0 103

104 FR263196005 Other accounts payable -0.6 -0.3 0.7 -0.3 0.0 0.3 -0.2 -0.2 104

105 FR265000005 Changes in net worth due to nominal holding gains/losses 203.7 386.6 -790.4 1267.8 1333.9 2451.1 2711.0 -3263.8 105

 Changes in balance sheet account

106 FC262090095 Change in net worth (lines 13+70+105) 556.8 750.3 -455.0 1882.3 1790.0 2927.4 3995.6 -2853.2 106

 Financial balance sheet account (end of period)
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107 FL264090005 Total financial assets (4) 25137.6 26775.2 30608.7 30186.6 35302.5 40507.3 47994.8 41472.6 107

108 FL313111303 SDR allocations 48.9 47.5 50.3 49.1 48.8 50.9 160.8 152.9 108

109 FL264000005 Currency and deposits 1385.0 1371.6 1571.0 1736.7 1710.4 1961.1 2126.6 2320.4 109

110 FL263025003 Currency 596.6 638.9 708.6 773.9 825.2 946.5 994.9 1029.9 110

111 FL263027003 Transferable deposits 110.2 128.0 139.9 154.1 161.8 196.5 214.6 193.2 111

112 FL263030005 Time deposits 480.2 550.8 564.6 601.9 599.8 665.1 693.7 681.0 112

113 FL264016005 Net interbank items due from U.S. banks 198.0 54.0 158.0 206.8 123.6 152.9 223.4 416.4 113

114 FL264022005 Debt securities 10337.3 10661.1 11341.9 11186.0 12368.5 13254.2 13651.6 12603.1 114

115 LM263069103 Open market paper 104.3 140.8 135.4 124.7 130.2 86.3 138.3 191.3 115

116 LM263061105 Treasury securities 6146.2 6002.8 6211.3 6270.1 6917.8 7291.6 7740.4 7318.5 116

117 LM263061705 Agency- and GSE-backed securities (2) 916.5 991.6 1012.2 1087.0 1230.7 1276.4 1252.6 1260.6 117

118 LM263062003 Municipal securities 90.8 96.2 105.7 101.6 110.3 118.3 118.7 108.4 118

119 LM263063005 Corporate bonds 3079.6 3429.8 3877.3 3602.6 3979.5 4481.7 4401.6 3724.3 119

120 FL264035005 Loans 1714.6 1851.7 2068.4 2351.8 2491.0 2472.4 2889.2 3059.9 120

121 FL264041005 Short term 1093.6 1172.4 1377.9 1750.4 1922.8 1974.6 2404.6 2546.7 121

122 FL262051005 Security repurchases 902.8 971.5 1002.9 971.5 1066.0 1084.0 1367.4 1416.2 122

123 FL263069005 Other loans and advances 190.8 200.8 375.0 778.9 856.8 890.7 1037.2 1130.5 123

124 FL263092305 Long term (U.S. direct investment abroad: debt) 621.0 679.4 690.5 601.3 568.2 497.8 484.6 513.2 124

125 FL263081005 Equity and investment fund shares 11319.5 12393.6 15057.4 14284.8 18086.8 22097.5 28413.7 22531.5 125

126 FL263034003 Money market fund shares 107.6 93.3 93.4 110.7 118.1 137.0 164.5 183.8 126

127 LM263064105 Corporate equities 5500.9 5782.7 7019.4 6629.5 8278.5 10673.4 13898.3 10831.5 127

128 LM263064203 Mutual fund shares 600.6 694.2 828.7 799.0 899.6 1024.3 1187.9 1038.9 128

129 LM263092101 Foreign direct investment in the U.S.: equity 5110.4 5823.4 7115.9 6745.5 8790.5 10262.9 13163.1 10477.3 129

130 FL263052005 Insurance, pension and standardized guarantee schemes 47.2 60.6 74.2 85.0 88.0 63.1 66.0 68.2 130

131 FL263076005 Insurance receivables due from property-casualty insurance companies 38.6 39.8 50.1 59.2 61.3 59.1 65.1 66.6 131

132 FL543141905 Life insurance reserves 5.9 17.0 19.7 10.4 10.7 1.6 0.2 0.3 132

133 FL543151905 Pension entitlements 2.7 3.9 4.3 15.4 16.0 2.4 0.7 1.3 133

134 LM263096005 Other accounts receivable 285.1 388.9 445.5 493.2 509.1 608.0 687.0 736.6 134

135 FL262100005 Total liabilities and net worth 25137.6 26775.2 30608.7 30186.6 35302.5 40507.3 47994.8 41472.6 135

136 FL264194005 Total liabilities 17847.2 18734.4 23023.0 20718.6 24044.5 26321.9 29813.9 26144.8 136

137 FL313011303 SDR holdings 49.7 48.9 51.9 50.8 50.7 52.9 163.6 160.5 137

138 FL264100005 Currency and deposits 650.3 560.4 820.6 890.5 834.2 920.2 916.1 989.2 138

139 FL263111503 Official foreign currencies 39.1 38.9 42.6 41.8 41.4 44.4 40.6 37.1 139

140 FL263111403 Reserve position in IMF (net) 17.6 18.4 17.6 22.0 26.2 36.4 35.8 35.0 140

141 LM263191005 U.S. private deposits 590.9 500.6 757.7 824.1 764.0 836.8 837.0 914.5 141

142 FL313091105 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 142

143 FL264122005 Debt securities 2623.1 2672.1 3186.3 3294.9 3558.3 3753.9 4218.4 3713.2 143

144 FL263169105 Commercial paper 195.9 167.7 236.0 310.4 291.4 217.7 421.7 331.8 144

145 LM263163005 Bonds 2427.2 2504.3 2950.2 2984.6 3266.9 3536.2 3796.7 3381.4 145

146 FL264135005 Loans 1515.4 1631.1 1609.3 1821.5 2004.6 2092.7 1942.5 2015.3 146

147 FL264141005 Short term 1268.5 1421.5 1428.0 1589.9 1917.8 2052.0 1978.8 2087.6 147

148 FL262151003 Security repurchases 789.5 905.4 872.3 989.6 1223.8 1279.2 1173.1 1161.2 148

149 FL263169005 Other loans and advances 37.5 36.0 56.4 50.6 57.6 55.9 54.2 63.5 149

150 FL263168005 Depository institution loans n.e.c. 440.5 474.6 487.3 545.5 632.6 699.0 748.2 862.4 150

151 FL713091103 Nonoff. foreign currencies (swap lines) 1.0 5.6 12.1 4.2 3.7 17.9 3.3 0.4 151

152 FL263192305 Long term (foreign direct investment in the U.S.: debt) 246.9 209.6 181.2 231.7 86.8 40.7 -36.2 -72.2 152

153 FL263181105 Equity and investment fund shares 12630.0 13395.4 16866.7 14104.7 17031.4 18878.1 21858.6 18455.8 153

154 LM263164100 Corporate equities 6756.2 7146.3 9118.1 7899.6 9478.0 10615.0 12061.3 10306.0 154

155 FL313092803 U.S. government equity in IBRD, etc. 61.5 63.3 64.8 66.1 67.5 69.3 70.5 72.9 155

156 LM263192101 U.S. direct investment abroad: equity 5812.3 6185.8 7683.8 6139.1 7486.0 8193.8 9726.8 8077.0 156

157 FL263152005 Insurance, pension and standardized guarantee schemes 226.3 248.2 295.6 323.0 334.3 399.4 480.9 570.5 157

158 LM263196005 Other accounts payable 152.4 178.3 192.7 233.1 230.9 224.6 233.7 240.1 158

159 LM263170005 Trade payables 66.5 69.0 77.1 79.4 81.6 81.6 84.8 82.4 159

160 FL263194735 Other investment by U.S. holding companies 86.0 109.3 115.6 153.6 149.2 143.0 148.9 157.7 160

161 FL262090095 Net worth (external account) 7290.5 8040.8 7585.7 9468.0 11258.0 14185.4 18181.0 15327.8 161

(1) Prior to 1999, current taxes, contributions for government social insurance, and transfer receipts from the rest of the world (line 8) are not separately displayed, and line 4 includes

 current taxes and transfer payments to the rest of the world net of current taxes, contributions for government social insurance, and transfer receipts from the rest of the world.

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Nonfinancial assets, including nonproduced nonfinancial assets, are not included on the balance sheet.