Summary

1

Z.1, June 6, 2013 Flow of Funds Matrix for 2012

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic Instrument

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

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

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

 1 Gross saving less net cap. transfers -- 1959.5 -- 1726.1 -- 164.2 -- -1028.5 -- 2821.2 -- 340.6 -- 467.3 -- 3629.2 --  2 Capital consumption -- 1254.9 -- 1154.4 -- 222.4 -- 141.5 -- 2773.3 -- 184.6 -- -- -- 2957.9 --  3 Net saving (1 less 2) -- 704.6 -- 571.7 -- -58.3 -- -1170.0 -- 48.0 -- 156.0 -- 467.3 -- 671.3 --  4 Gross investment (5 plus 11) 2403.4 -- 1569.4 -- 182.1 -- -915.4 -- 3239.4 -- 253.8 -- 406.2 -- 3899.4 -- -270.2 5 Capital expenditures 1564.0 -- 1429.1 -- 328.6 -- 155.3 -- 3477.0 -- 196.9 -- 0.0 -- 3673.9 -- -44.8 6 Consumer durables 1139.3 -- -- -- -- -- -- -- 1139.3 -- -- -- -- -- 1139.3 -- --  7 Residential 314.7 -- 62.9 -- 6.2 -- 1.5 -- 385.3 -- 5.3 -- -- -- 390.6 -- --  8 Nonresidential 118.8 -- 1310.8 -- 311.5 -- 153.2 -- 1894.3 -- 191.6 -- -- -- 2085.9 -- --  9 Inventory change -- -- 58.1 -- -- -- -- -- 58.1 -- -- -- -- -- 58.1 -- -- 10 Nonproduced nonfinancial assets -8.8 -- -2.8 -- 10.9 -- 0.7 -- 0.0 -- -- -- 0.0 -- -- -- -- 11 Net lending (+) or net borrowing (-) 839.4 -- 140.3 -- -146.5 -- -1070.8 -- -237.6 -- 56.8 -- 406.2 -- 225.4 -- -225.412 Total financial assets 926.7 -- 892.2 -- -111.4 -- 124.4 -- 1832.0 -- 1571.4 -- 714.0 -- 4117.4 -- -- 13 Total liabilities -- 87.4 -- 751.9 -- 35.2 -- 1195.2 -- 2069.6 -- 1514.5 -- 307.9 -- 3892.0 -- 14 U.S. official reserve assets -- -- -- -- -- -- 4.3 0.0 4.3 0.0 0.2 -- 0.0 4.5 4.5 4.5 -- 15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- -- -- 0.0 -- 0.0 0.6 -- -- -- 0.6 0.0 -0.617 Foreign deposits -2.5 -- -21.7 -- -- -- -- -- -24.2 -- 0.4 -- -- -42.0 -23.8 -42.0 -18.218 Interbank claims -- -- -- -- -- -- -- -- -- -- -64.1 -211.3 -153.8 -- -217.9 -211.3 6.619 Checkable dep. and currency 140.6 -- 50.4 -- -8.7 -- 6.7 -- 188.9 -- 10.2 268.5 68.2 -- 267.2 268.5 1.320 Time and savings deposits 407.7 -- 33.0 -- 22.0 -- 0.2 -- 462.9 -- 7.2 516.1 46.1 -- 516.1 516.1 -- 21 Money market fund shares 0.3 -- -3.1 -- -7.0 -- -- -- -9.8 -- -18.0 7.1 34.8 -- 7.1 7.1 -- 22 Fed. funds and security RPs -- -- -2.3 -- -5.5 -- -- -- -7.8 -- 140.2 -14.0 -39.9 -- 92.6 -14.0 -106.623 Credit market instruments -18.0 20.4 22.7 717.4 -52.0 -5.3 82.3 1140.2 35.0 1872.6 1077.5 -394.0 410.1 43.9 1522.6 1522.6 -- 24 Open market paper -0.5 -- -6.3 14.2 -6.0 -- -- -- -12.8 14.2 -7.6 -58.7 3.4 27.6 -17.0 -17.0 -- 25 Treasury securities 370.5 -- 15.6 -- -7.9 -- -- 1140.6 378.2 1140.6 283.9 -- 478.4 -- 1140.6 1140.6 -- 26 Agency- and GSE-backed sec. -246.5 -- -0.0 -- -22.9 -- -31.1 -0.4 -300.5 -0.4 256.6 -22.4 21.1 -- -22.8 -22.8 -- 27 Municipal securities -151.2 -14.5 12.7 15.2 -0.6 -5.7 -- -- -139.1 -4.9 139.1 -- -4.9 -- -4.9 -4.9 -- 28 Corporate and fgn. bonds 25.6 -- -- 579.6 -7.5 -- -0.2 -- 18.0 579.6 383.9 -208.0 -38.8 -8.5 363.0 363.0 -- 29 Depository inst. loans n.e.c. -- 111.5 -- 166.1 -- -- -- -- -- 277.6 172.9 -124.0 -- 19.2 172.9 172.9 -- 30 Other loans and advances -2.5 1.2 -- -20.8 -- 0.4 2.5 -- 0.0 -19.1 39.2 3.5 -49.2 5.7 -10.0 -10.0 -- 31 Mortgages -13.4 -232.5 0.7 -36.9 -7.2 -- 1.7 0.0 -18.2 -269.4 -235.6 15.6 -- -- -253.8 -253.8 -- 32 Consumer credit -- 154.6 0.0 -- -- -- 109.4 -- 109.4 154.6 45.2 -- -- -- 154.6 154.6 -- 33 Corporate equities -321.3 -- -- -400.7 -14.1 -- -13.2 -- -348.5 -400.7 250.5 152.0 -89.7 61.0 -187.7 -187.7 -- 34 Mutual fund shares 501.8 -- 0.3 -- -7.2 -- -- -- 494.8 -- 87.4 735.7 153.4 -- 735.7 735.7 -- 35 Trade credit -- 1.5 116.7 131.7 0.0 40.4 2.4 9.3 119.1 183.0 -1.6 -0.0 11.1 6.3 128.6 189.3 60.636 Security credit 23.6 64.9 -- -- -- -- -- -- 23.6 64.9 165.2 124.0 0.0 0.0 188.9 188.9 -- 37 Life insurance reserves -26.3 -- -- -- -- -- -- 0.3 -26.3 0.3 14.7 -11.9 -- -- -11.6 -11.6 -- 38 Pension fund reserves 239.4 -- -- -- -- -- -- -- 239.4 -- -- 239.4 -- -- 239.4 239.4 -- 39 Taxes payable -- -- -- 5.4 9.9 -- 42.7 -- 52.6 5.4 -- 6.4 -- -- 52.6 11.9 -40.740 Equity in noncorp. business -30.3 -- -- -36.7 -- -- -- -- -30.3 -36.7 -- 6.4 -- -- -30.3 -30.3 -- 41 Miscellaneous 11.5 0.6 696.1 334.7 -48.7 -- -0.8 45.5 658.1 380.8 -98.9 90.2 273.8 234.2 833.1 705.2 -127.942 Sector discrepancies (1 less 4) -443.9 -- 156.7 -- -18.0 -- -113.1 -- -418.2 -- 86.9 -- 61.2 -- -270.2 -- -270.2General 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, June 6, 2013 Flow of Funds Matrix for 2012

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

Households State Domestic Domestic Instrument

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

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

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

 1 Total financial assets 55595.2 -- 19240.2 -- 2104.2 -- 1415.6 -- 78355.2 -- 70175.6 -- 20161.1 -- 168691.8 -- -7781.2 2 Total liabilities and equity -- 13437.7 -- 44041.2 -- 3732.9 -- 13449.6 -- 74661.4 -- 71005.3 -- 15244.0 -- 160910.7 --  3 Total liabilities -- 13437.7 -- 19755.6 -- 3732.9 -- 13449.6 -- 50375.9 -- 66040.6 -- 10324.4 -- 126740.9 --  4 U.S. official reserve assets -- -- -- -- -- -- 102.8 54.3 102.8 54.3 35.8 -- 54.3 127.5 192.8 181.8 -11.0 5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- -- -- 5.2 5.2 --  6 Treasury currency -- -- -- -- -- -- -- 25.9 -- 25.9 44.8 -- -- -- 44.8 25.9 -18.8 7 Foreign deposits 47.6 -- 13.1 -- -- -- -- -- 60.7 -- 43.3 -- -- 792.1 104.0 792.1 688.1 8 Interbank claims -- -- -- -- -- -- -- -- -- -- 1561.7 1828.8 213.1 -- 1774.8 1828.8 54.0 9 Checkable dep. and currency 884.6 -- 847.6 -- 118.0 -- 92.0 -- 1942.1 -- 368.3 2857.8 540.4 -- 2850.8 2857.8 7.010 Time and savings deposits 7096.9 -- 955.8 -- 292.3 -- 2.0 -- 8347.0 -- 639.3 9312.4 326.0 -- 9312.4 9312.4 -- 11 Money market fund shares 1110.2 -- 536.9 -- 119.8 -- -- -- 1766.9 -- 768.4 2649.6 114.3 -- 2649.6 2649.6 -- 12 Fed. funds and security RPs -- -- 10.4 -- 94.5 -- -- -- 104.8 -- 929.5 1122.9 -84.7 -- 949.5 1122.9 173.413 Credit market instruments 5468.8 12819.3 344.3 12728.3 1148.5 2980.0 828.5 11593.7 7790.1 40121.4 39017.1 13911.3 9640.1 2414.7 56447.3 56447.3 -- 14 Open market paper 28.6 -- 61.8 130.5 62.3 -- -- -- 152.7 130.5 604.5 449.2 195.2 372.7 952.3 952.3 -- 15 Treasury securities 1197.8 -- 107.3 -- 478.4 -- -- 11568.9 1783.5 11568.9 4259.3 -- 5526.1 -- 11568.9 11568.9 -- 16 Agency- and GSE-backed sec. 96.9 -- 14.4 -- 315.2 -- 0.0 24.9 426.5 24.9 6002.2 7529.7 1125.9 -- 7554.6 7554.6 -- 17 Municipal securities 1656.5 241.0 40.9 509.1 10.3 2964.3 -- -- 1707.7 3714.4 1941.3 -- 65.4 -- 3714.4 3714.4 -- 18 Corporate and fgn. bonds 2402.0 -- -- 5795.2 128.1 -- 0.6 -- 2530.7 5795.2 7512.8 4985.3 2580.6 1843.6 12624.1 12624.1 -- 19 Depository inst. loans n.e.c. -- 66.3 -- 1680.1 -- -- -- -- -- 1746.4 2250.6 338.7 -- 165.5 2250.6 2250.6 -- 20 Other loans and advances 20.9 139.3 -- 1255.2 -- 15.7 188.8 -- 209.7 1410.2 1503.0 416.6 146.9 32.8 1859.6 1859.6 -- 21 Mortgages 66.1 9604.6 71.4 3358.2 154.2 -- 112.3 0.0 404.0 12962.7 12750.5 191.8 -- -- 13154.5 13154.5 -- 22 Consumer credit -- 2768.2 48.5 -- -- -- 526.8 -- 575.3 2768.2 2192.9 -- -- -- 2768.2 2768.2 -- 23 Corporate equities 10178.4 -- -- 16162.3 68.3 -- 39.9 -- 10286.6 16162.3 12635.7 4946.5 3106.1 4919.5 26028.4 26028.4 -- 24 Mutual fund shares 5372.4 -- 181.7 -- 35.2 -- -- -- 5589.3 -- 2776.6 9323.6 957.7 -- 9323.6 9323.6 -- 25 Trade credit -- 289.7 2893.5 2310.7 0.0 752.9 50.1 228.9 2943.6 3582.2 133.2 14.2 144.7 69.3 3221.4 3665.7 444.326 Security credit 776.0 303.7 -- -- -- -- -- -- 776.0 303.7 736.4 1208.7 0.0 0.0 1512.5 1512.5 -- 27 Life insurance reserves 1186.1 -- -- -- -- -- -- 50.0 1186.1 50.0 172.9 1309.0 -- -- 1359.0 1359.0 -- 28 Pension fund reserves 14444.1 -- -- -- -- -- -- -- 14444.1 -- -- 14444.1 -- -- 14444.1 14444.1 -- 29 Taxes payable -- -- -- 157.4 112.3 -- 158.1 -- 270.4 157.4 -- -76.2 -- -- 270.4 81.2 -189.230 Equity in noncorp. business 8141.4 -- -- 8123.2 -- -- -- -- 8141.4 8123.2 -- 18.2 -- -- 8141.4 8141.4 -- 31 Miscellaneous 888.7 24.9 13456.9 4559.3 115.4 -- 142.3 1491.6 14603.3 6075.8 10307.3 8134.2 5149.1 6920.9 30059.7 21130.8 -8928.9General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 25) and equity in noncorporate business (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
S

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Z.1, June 6, 2013 3

D.1 Credit Market Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1978 13.8 16.4 17.5 17.5 13.5 12.1 15.4 9.2 21.7 18.7

1979 12.1 15.0 16.4 13.9 13.5 11.3 9.0 5.8 23.0 9.6

1980 9.5 8.2 10.9 1.0 10.1 8.5 6.9 11.8 14.9 14.3

1981 10.3 7.4 7.2 5.5 13.0 13.8 8.0 11.6 18.4 12.2

1982 10.4 5.6 4.8 5.0 9.9 10.2 11.2 19.7 13.6 7.5

1983 12.0 11.1 10.2 12.1 9.1 8.3 11.4 18.9 13.3 8.3

1984 14.8 12.7 11.4 18.4 16.1 16.7 11.4 16.9 17.5 3.7

1985 15.6 16.1 14.6 15.9 11.0 12.7 31.8 16.5 19.3 0.5

1986 11.9 11.3 13.7 9.1 11.6 14.1 10.9 13.6 26.2 4.0

1987 9.1 10.4 13.4 4.8 7.8 8.8 12.0 8.0 18.3 2.5

1988 9.1 9.8 11.8 6.7 9.9 10.9 6.0 8.0 13.1 2.9

1989 7.3 9.1 10.9 6.3 6.3 7.4 5.3 7.0 10.5 3.8

1990 6.5 7.0 8.9 1.9 3.6 5.3 5.0 11.0 8.6 8.3

1991 4.4 5.1 7.0 -1.1 -2.1 -2.1 9.2 11.1 5.9 4.8

1992 4.6 5.4 6.5 1.1 -0.3 0.7 1.5 10.9 8.5 6.9

1993 5.6 6.0 5.5 7.4 3.1 5.3 5.3 8.3 9.7 18.7

1994 5.1 7.7 5.6 15.2 5.4 7.1 -3.9 4.7 14.0 -2.4

1995 5.0 7.0 4.9 14.4 6.2 7.1 -5.5 4.1 11.4 17.7

1996 5.1 6.7 6.2 9.0 6.0 6.0 -2.0 4.0 12.4 15.5

1997 5.5 5.9 6.1 5.5 9.2 9.5 4.9 0.6 12.0 10.6

1998 6.5 7.6 8.0 7.2 11.5 10.9 6.2 -1.4 19.4 5.1

1999 6.2 8.0 9.4 7.8 10.4 9.5 3.3 -1.9 16.6 2.4

2000 5.0 9.0 8.7 11.4 9.3 8.5 1.4 -8.0 10.7 8.4

2001 6.4 9.6 10.5 8.6 5.9 4.9 8.8 -0.2 10.6 -1.4

2002 7.4 10.6 13.2 5.6 3.0 1.3 11.1 7.6 9.6 10.8

2003 8.0 11.8 14.5 5.3 2.2 1.8 8.3 10.9 10.7 4.0

2004 9.3 11.1 13.6 5.6 6.7 4.8 11.4 9.0 8.6 12.4

2005 9.2 11.2 13.3 4.5 9.0 6.9 5.8 7.0 9.4 7.9

2006 8.6 9.7 11.1 4.2 10.9 9.2 3.9 3.9 10.2 22.0

2007 8.5 6.7 6.9 6.0 13.6 13.5 5.5 4.9 12.7 9.0

2008 5.9 -0.2 -0.6 0.8 6.3 5.1 0.6 24.2 5.5 -10.6

2009 3.1 -1.7 -1.4 -4.4 -2.3 -2.0 4.0 22.7 -10.6 12.4

2010 4.2 -2.6 -3.5 -0.7 1.5 2.7 2.3 20.2 -5.9 3.6

2011 3.7 -1.5 -2.3 3.7 4.7 7.0 -1.7 11.4 -3.0 1.6

2012 4.9 0.2 -2.4 5.9 6.0 8.1 -0.2 10.9 -2.8 1.9

2007 -- Q1 8.4 7.2 8.4 4.5 11.4 9.9 7.0 6.6 11.1 12.9

 Q2 8.3 7.3 7.7 5.9 13.8 14.2 5.9 1.4 10.4 18.0

 Q3 8.7 6.7 6.7 7.4 14.1 14.7 4.2 5.6 16.8 1.4

 Q4 7.5 4.7 4.2 5.7 12.7 12.7 4.3 5.5 10.0 2.9

2008 -- Q1 6.4 3.7 2.9 5.6 8.9 8.8 2.0 10.5 6.1 10.4

 Q2 3.4 -0.4 -0.4 2.4 7.5 6.8 0.7 5.9 6.3 -0.0

 Q3 6.9 -1.9 -2.3 -2.2 5.5 4.6 0.6 36.0 6.6 -29.0

 Q4 6.4 -2.1 -2.5 -2.6 2.6 0.1 -0.8 37.6 2.7 -26.8

2009 -- Q1 4.2 -1.0 0.2 -3.4 -1.0 -0.7 2.6 25.6 -10.7 11.3

 Q2 4.5 -1.1 -1.7 -4.6 -2.1 -1.5 5.0 27.1 -13.5 12.9

 Q3 2.0 -2.4 -2.4 -3.9 -3.5 -3.6 3.8 18.2 -10.4 15.3

 Q4 1.4 -2.3 -1.8 -6.0 -2.7 -2.2 4.3 13.2 -8.5 7.0

2010 -- Q1 3.8 -3.6 -5.5 -2.3 0.2 1.0 3.1 21.9 -8.0 4.8

 Q2 3.9 -2.3 -2.9 -3.2 -1.2 -1.3 0.4 22.2 -7.2 -3.2

 Q3 4.0 -2.7 -3.3 0.4 3.5 5.6 1.8 15.4 -4.3 6.3

 Q4 4.7 -1.8 -2.7 2.1 3.3 5.3 3.9 16.0 -5.3 6.2

2011 -- Q1 2.6 -2.0 -2.6 2.7 3.9 6.3 -2.8 9.1 -0.7 14.4

 Q2 2.7 -2.6 -2.4 3.7 5.4 8.3 -2.8 8.2 -4.8 3.5

 Q3 4.3 -1.5 -1.8 2.9 4.0 5.8 -0.2 13.7 -3.2 -6.1

 Q4 4.9 -0.0 -2.5 5.4 5.2 6.9 -1.2 12.7 -3.5 -5.0

2012 -- Q1 4.8 -1.0 -3.3 5.4 4.4 6.1 -0.0 13.7 -2.4 -0.2

 Q2 5.2 1.3 -2.2 6.4 4.9 6.4 3.1 10.9 -5.0 -5.0

 Q3 2.7 -1.8 -3.1 4.9 4.9 6.8 -0.1 6.2 -2.0 3.8

 Q4 6.5 2.2 -1.0 6.5 9.3 12.1 -3.7 11.2 -1.9 8.8

2013 -- Q1 4.6 -0.6 -2.3 5.7 5.3 7.6 1.9 10.3 0.6 18.7

1. Data shown are on an end-of-period basis.
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4 Z.1, June 6, 2013

D.2 Credit Market Borrowing by Sector

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1978 389.8 156.8 105.7 46.4 141.1 82.7 39.4 52.5 73.6 24.0

1979 388.2 166.3 116.5 43.3 159.6 85.8 26.6 35.8 94.9 15.0

1980 340.3 105.3 90.2 3.4 135.4 72.2 22.2 77.4 75.8 24.2

1981 406.6 102.7 67.0 19.8 190.8 126.1 27.6 85.5 107.8 23.5

1982 451.3 84.6 47.4 18.8 163.7 105.8 41.7 161.3 93.6 16.0

1983 572.6 175.3 105.1 48.2 164.8 93.4 47.3 185.2 104.3 17.3

1984 790.9 220.4 127.3 81.7 320.8 207.1 52.5 197.2 156.2 8.4

1985 957.7 313.8 181.5 84.0 254.6 184.2 163.6 225.7 203.2 1.2

1986 845.0 258.1 198.8 55.8 296.7 229.5 74.2 216.0 330.1 9.7

1987 721.3 264.3 221.5 32.3 222.6 164.6 90.4 143.9 291.8 6.3

1988 784.4 270.4 215.7 46.6 308.5 224.4 50.4 155.1 249.8 7.4

1989 685.3 276.8 224.9 47.0 214.8 166.4 47.4 146.4 224.8 10.2

1990 658.4 233.2 200.1 15.1 131.2 130.9 47.1 246.9 207.8 23.9

1991 473.4 183.3 174.6 -8.8 -79.3 -53.1 91.2 278.2 153.1 15.1

1992 514.3 203.2 173.1 9.2 -9.3 17.1 16.5 304.0 236.5 24.1

1993 667.3 239.4 156.3 61.4 113.8 134.4 57.9 256.1 292.9 69.8

1994 640.0 324.3 166.5 135.0 205.4 191.0 -45.5 155.9 464.4 -11.2

1995 653.5 319.0 153.6 147.0 250.8 205.5 -60.8 144.4 433.6 78.3

1996 706.1 324.8 205.1 105.7 256.9 186.5 -20.5 144.9 523.2 88.0

1997 793.2 305.0 215.9 70.3 414.3 312.3 50.8 23.1 570.3 69.9

1998 998.5 414.8 301.1 97.1 569.5 390.5 66.8 -52.6 1026.5 37.2

1999 1011.9 474.5 379.2 112.4 571.3 377.5 37.3 -71.2 1052.6 19.0

2000 865.1 576.0 384.4 176.5 568.1 375.7 16.9 -295.9 790.9 63.0

2001 1162.6 665.3 506.9 150.6 397.5 234.0 105.5 -5.6 862.2 -11.2

2002 1428.5 811.2 704.7 105.2 215.1 63.3 144.6 257.6 881.4 93.4

2003 1672.4 992.8 871.7 105.9 163.0 89.2 120.5 396.0 1071.0 43.0

2004 2095.7 1054.1 936.5 117.2 500.9 246.2 178.8 361.9 939.0 155.3

2005 2343.3 1180.3 1048.7 100.4 714.4 372.7 141.7 306.9 1113.4 113.0

2006 2369.4 1137.4 989.8 96.6 947.6 532.4 100.9 183.4 1320.9 332.6

2007 2554.0 853.5 683.1 141.9 1316.7 855.1 146.7 237.1 1814.2 170.3

2008 1921.2 -25.2 -61.9 19.6 689.3 370.5 17.9 1239.2 896.9 -226.2

2009 1057.9 -228.6 -149.6 -111.5 -270.5 -150.5 113.0 1443.9 -1808.7 211.8

2010 1472.3 -342.5 -365.3 -17.9 165.0 194.6 69.5 1580.2 -931.7 75.3

2011 1352.7 -201.6 -229.0 93.4 539.0 525.1 -52.7 1067.9 -435.3 34.8

2012 1872.6 20.4 -229.1 154.6 717.4 646.9 -5.3 1140.2 -394.0 43.9

2007 -- Q1 2538.0 929.8 828.3 106.6 1096.5 626.4 189.3 322.4 1581.4 243.3

 Q2 2555.3 951.7 775.8 140.8 1373.1 920.8 160.5 69.9 1541.5 350.1

 Q3 2735.8 893.8 690.1 179.7 1445.9 986.0 117.5 278.5 2548.1 28.3

 Q4 2387.0 638.7 438.3 140.6 1351.4 887.3 119.4 277.5 1585.7 59.6

2008 -- Q1 2082.2 506.7 310.9 139.7 978.8 630.2 56.5 540.2 990.6 221.3

 Q2 1119.3 -50.5 -47.7 60.8 840.6 499.0 20.3 308.9 1037.7 -0.1

 Q3 2304.7 -265.8 -248.9 -56.8 631.0 343.4 17.8 1921.7 1096.9 -622.8

 Q4 2178.4 -291.4 -262.0 -65.2 306.7 9.2 -22.8 2185.9 462.4 -503.3

2009 -- Q1 1446.1 -136.4 16.7 -86.6 -118.2 -55.9 73.0 1627.7 -1832.8 192.3

 Q2 1580.2 -149.1 -176.9 -116.3 -249.6 -112.5 142.3 1836.5 -2312.6 224.0

 Q3 694.9 -318.4 -251.7 -96.4 -409.5 -270.5 110.7 1312.1 -1717.2 287.9

 Q4 510.2 -310.4 -186.4 -146.8 -304.7 -163.2 126.0 999.2 -1372.1 143.1

2010 -- Q1 1344.9 -477.9 -566.9 -54.7 22.1 71.1 93.1 1707.6 -1259.9 99.5

 Q2 1408.4 -303.3 -292.0 -76.9 -130.9 -98.8 12.6 1830.1 -1077.2 -68.9

 Q3 1435.5 -352.5 -332.9 10.5 395.8 408.7 54.6 1337.6 -626.0 132.0

 Q4 1700.4 -236.3 -269.4 49.5 373.1 397.4 117.8 1445.6 -763.6 138.6

2011 -- Q1 943.3 -265.2 -256.5 67.1 443.3 471.2 -85.6 850.9 -104.0 319.5

 Q2 993.2 -340.3 -239.6 93.8 624.9 628.3 -83.3 791.8 -694.9 80.5

 Q3 1608.0 -197.4 -177.1 73.5 470.9 454.0 -4.5 1339.0 -451.2 -144.8

 Q4 1866.3 -3.3 -242.9 139.3 617.0 546.7 -37.4 1290.0 -490.9 -115.9

2012 -- Q1 1821.9 -126.5 -323.5 141.1 521.4 491.8 -1.0 1428.1 -333.7 -4.1

 Q2 2024.0 161.0 -206.5 168.7 587.1 516.8 93.0 1182.9 -697.4 -115.0

 Q3 1059.2 -232.5 -293.0 130.7 604.3 559.3 -2.8 690.2 -275.1 86.2

 Q4 2585.4 279.5 -93.5 177.7 1156.7 1019.5 -110.2 1259.4 -269.8 208.5

2013 -- Q1 1850.5 -77.2 -212.4 157.1 674.9 664.4 55.2 1197.6 88.8 452.4
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D.3 Credit Market Debt Outstanding by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1978 3207.9 1111.2 708.6 311.3 1179.3 761.1 295.6 621.9 412.7 155.7

1979 3596.3 1278.5 826.7 354.6 1337.9 845.9 322.2 657.7 508.9 168.5

1980 3944.3 1396.0 926.5 358.0 1468.9 913.8 344.4 735.0 584.7 193.4

1981 4351.9 1505.9 998.2 377.9 1653.4 1033.6 372.1 820.5 689.2 214.0

1982 4773.1 1575.8 1031.1 396.7 1801.8 1124.1 413.8 981.8 785.5 208.1

1983 5348.6 1731.1 1116.2 444.9 1989.5 1240.5 461.1 1167.0 890.1 224.1

1984 6134.8 1943.1 1242.8 526.6 2313.8 1451.2 513.6 1364.2 1054.9 232.8

1985 7110.6 2277.7 1449.6 610.6 2565.1 1632.1 677.9 1589.9 1259.0 242.5

1986 7953.0 2534.2 1648.3 666.4 2860.8 1860.6 752.1 1805.9 1596.6 251.9

1987 8656.1 2752.5 1827.9 698.6 3111.2 2053.0 842.6 1949.8 1899.7 259.0

1988 9437.0 3039.8 2054.2 745.2 3399.3 2257.3 893.0 2104.9 2149.5 269.8

1989 10139.3 3309.2 2259.5 809.3 3638.6 2448.4 940.4 2251.2 2402.8 287.9

1990 10825.1 3571.6 2488.8 824.4 3767.9 2577.4 987.4 2498.1 2613.8 318.2

1991 11295.2 3758.5 2667.0 815.6 3681.7 2519.7 1078.6 2776.4 2766.8 350.4

1992 11812.7 3961.7 2840.0 824.8 3675.6 2540.0 1095.1 3080.3 3018.9 372.4

1993 12494.8 4203.5 2998.7 886.2 3801.8 2686.9 1153.0 3336.5 3317.2 468.2

1994 13141.1 4527.0 3165.3 1021.2 4014.3 2885.0 1107.5 3492.3 3789.7 443.1

1995 13810.4 4846.1 3318.9 1168.2 4280.9 3106.2 1046.7 3636.7 4226.3 567.6

1996 14516.5 5183.8 3537.0 1273.9 4524.8 3279.7 1026.2 3781.7 4749.5 657.2

1997 15308.2 5489.4 3752.9 1344.2 4937.0 3590.0 1076.9 3804.8 5299.7 723.6

1998 16306.7 5902.9 4054.0 1441.3 5507.9 3981.8 1143.8 3752.2 6326.2 783.2

1999 17353.2 6377.6 4430.8 1553.6 6113.6 4393.7 1181.0 3681.0 7376.5 748.2

2000 18228.1 6963.5 4814.0 1741.3 6681.6 4769.3 1197.9 3385.1 8168.4 814.5

2001 19373.7 7627.8 5320.9 1891.8 7063.0 4987.3 1303.4 3379.5 9156.8 865.4

2002 20802.2 8439.1 6025.6 1997.0 7278.2 5050.6 1447.9 3637.0 10038.2 1072.8

2003 22518.8 9462.0 6907.0 2102.9 7455.3 5153.9 1568.4 4033.1 10944.5 1253.3

2004 25346.4 10536.1 7858.4 2220.1 7967.1 5411.0 2448.2 4395.0 11898.3 1438.8

2005 27689.6 11716.4 8907.1 2320.6 8681.5 5783.7 2589.8 4701.9 12957.3 1513.9

2006 30059.2 12833.3 9896.9 2361.8 9649.9 6336.9 2690.8 4885.3 14260.5 1882.6

2007 32622.3 13689.3 10580.1 2506.3 10973.1 7198.5 2837.5 5122.3 16204.5 2126.3

2008 34543.4 13669.0 10523.1 2525.9 11657.4 7564.0 2855.4 6361.5 17101.0 1708.8

2009 35473.7 13397.0 10373.5 2420.2 11302.8 7329.5 2968.4 7805.4 15688.5 2090.3

2010 36909.5 13059.9 9895.2 2522.2 11426.0 7485.9 3038.0 9385.6 14486.0 2225.3

2011 38267.5 12863.7 9666.1 2615.7 11965.0 8012.6 2985.3 10453.6 14045.4 2276.7

2012 40121.4 12819.3 9432.0 2768.2 12728.3 8704.7 2980.0 11593.7 13911.3 2414.7

2007 -- Q1 30700.2 13065.7 10104.0 2388.5 9930.5 6500.0 2738.1 4965.9 14783.1 1941.8

 Q2 31339.0 13303.6 10298.0 2423.7 10273.8 6730.2 2778.2 4983.3 15168.5 2020.8

 Q3 32025.5 13529.6 10470.5 2471.1 10635.3 6976.7 2807.6 5053.0 15808.1 2077.1

 Q4 32622.3 13689.3 10580.1 2506.3 10973.1 7198.5 2837.5 5122.3 16204.5 2126.3

2008 -- Q1 33142.8 13816.0 10657.8 2541.2 11217.8 7356.0 2851.6 5257.4 16452.1 2216.1

 Q2 33422.6 13803.4 10645.9 2556.4 11428.0 7480.7 2856.7 5334.6 16711.5 2145.8

 Q3 33998.8 13741.9 10588.6 2542.2 11580.8 7561.6 2861.1 5815.0 16985.4 1877.7

 Q4 34543.4 13669.0 10523.1 2525.9 11657.4 7564.0 2855.4 6361.5 17101.0 1708.8

2009 -- Q1 34843.9 13564.3 10527.3 2504.3 11637.5 7559.6 2873.7 6768.5 17095.5 1732.7

 Q2 35238.9 13527.0 10483.0 2481.0 11575.1 7531.6 2909.2 7227.6 16517.3 1879.6

 Q3 35412.6 13447.4 10420.1 2456.9 11472.7 7464.0 2936.9 7555.6 16088.0 2053.1

 Q4 35473.7 13397.0 10373.5 2420.2 11302.8 7329.5 2968.4 7805.4 15688.5 2090.3

2010 -- Q1 35841.1 13290.3 10230.6 2410.1 11326.7 7364.9 2991.7 8232.3 14865.5 2124.7

 Q2 36193.2 13214.5 10157.6 2390.9 11294.0 7340.5 2994.8 8689.8 14596.2 2101.6

 Q3 36552.1 13126.4 10074.4 2393.5 11393.0 7442.9 3008.5 9024.2 14439.7 2231.2

 Q4 36909.5 13059.9 9895.2 2522.2 11426.0 7485.9 3038.0 9385.6 14486.0 2225.3

2011 -- Q1 37145.3 12993.6 9831.1 2539.0 11536.8 7604.1 3016.6 9598.4 14460.0 2310.1

 Q2 37399.0 12913.9 9771.2 2562.5 11693.0 7761.5 2995.7 9796.3 14280.9 2356.4

 Q3 37801.0 12864.5 9726.9 2580.8 11810.7 7875.4 2994.6 10131.1 14168.1 2306.8

 Q4 38267.5 12863.7 9666.1 2615.7 11965.0 8012.6 2985.3 10453.6 14045.4 2276.7

2012 -- Q1 38718.5 12834.4 9585.3 2650.9 12088.5 8126.8 2985.0 10810.6 14025.4 2309.0

 Q2 39219.5 12869.7 9528.7 2691.1 12235.3 8257.1 3008.3 11106.3 13851.1 2280.4

 Q3 39476.5 12751.8 9455.4 2723.8 12438.2 8449.3 3007.6 11278.9 13968.6 2358.6

 Q4 40121.4 12819.3 9432.0 2768.2 12728.3 8704.7 2980.0 11593.7 13911.3 2414.7

2013 -- Q1 40584.0 12800.0 9378.9 2807.5 12897.0 8868.3 2993.8 11893.2 13933.5 2527.8

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Credit market borrowing 4538.5 2591.8 -539.0 615.9 952.3 1522.6 1484.2 1211.6 870.3 2524.2 2391.6 1

 2 Domestic nonfinancial sectors 2554.0 1921.2 1057.9 1472.3 1352.7 1872.6 1821.9 2024.0 1059.2 2585.4 1850.5 2

 3 Household sector 853.5 -25.2 -228.6 -342.5 -201.6 20.4 -126.5 161.0 -232.5 279.5 -77.2 3

 4 Nonfinancial corporate business 855.1 370.5 -150.5 194.6 525.1 646.9 491.8 516.8 559.3 1019.5 664.4 4

 5 Nonfinancial noncorporate business 461.6 318.8 -120.0 -29.6 13.9 70.5 29.6 70.3 45.0 137.3 10.6 5

 6 State and local governments 146.7 17.9 113.0 69.5 -52.7 -5.3 -1.0 93.0 -2.8 -110.2 55.2 6

 7 Federal government 237.1 1239.2 1443.9 1580.2 1067.9 1140.2 1428.1 1182.9 690.2 1259.4 1197.6 7

 8 Rest of the world 170.3 -226.2 211.8 75.3 34.8 43.9 -4.1 -115.0 86.2 208.5 452.4 8

 9 Financial sectors 1814.2 896.9 -1808.7 -931.7 -435.3 -394.0 -333.7 -697.4 -275.1 -269.8 88.8 9

 10 U.S.-chartered depository institutions 222.5 -0.9 -292.2 -161.7 -73.9 -27.2 -41.4 -10.1 -97.8 40.4 -12.1 10

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

 12 Credit unions 13.4 8.3 -14.1 -0.4 -2.0 0.9 -5.1 3.3 2.6 2.8 -11.4 12

 13 Life insurance companies 14.5 26.2 -6.6 -3.2 1.8 4.8 6.6 15.7 -0.2 -3.0 5.2 13

 14 Government-sponsored enterprises 282.4 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 14

 15 Agency- and GSE-backed mortgage pools 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 15

 16 ABS issuers 350.5 -413.5 -736.9 -497.5 -248.0 -216.0 -223.4 -263.2 -251.9 -125.5 -146.7 16

 17 Finance companies 34.9 -79.4 -156.2 -174.9 -12.8 -53.7 -25.0 -122.9 81.6 -148.7 -55.2 17

 18 REITs 10.2 -53.8 -50.0 -2.1 28.2 42.9 26.6 57.3 27.4 60.4 16.0 18

 19 Brokers and dealers -4.0 77.7 -49.7 36.9 -37.9 -1.7 24.8 16.5 -65.2 17.3 -4.3 19

 20 Holding companies 151.9 97.3 -8.0 -16.5 -16.5 -97.7 12.3 -360.2 26.2 -69.3 -24.4 20

 21 Funding corporations 114.5 466.4 -434.8 -65.3 -52.4 -23.8 6.2 -15.1 20.7 -107.1 112.3 21

 22 Credit market lending 4538.5 2591.8 -539.0 615.9 952.3 1522.6 1484.2 1211.6 870.3 2524.2 2391.6 22

 23 Domestic nonfinancial sectors 416.9 242.4 269.5 206.5 -368.5 35.0 -175.0 580.0 -560.3 295.5 -121.4 23

 24 Household sector 379.5 407.0 45.6 76.8 -273.0 -18.0 -180.7 449.7 -719.4 378.6 -233.6 24

 25 Nonfinancial corporate business -75.9 -34.6 10.0 2.6 -5.3 21.5 38.3 30.3 60.6 -43.1 -39.8 25

 26 Nonfinancial noncorporate business 10.0 -10.9 -6.7 6.6 1.0 1.2 0.7 0.8 0.6 2.8 0.8 26

 27 State and local governments 97.4 -204.3 -74.8 35.4 -90.6 -52.0 -67.1 -4.2 -28.3 -108.5 10.8 27

 28 Federal government 5.9 85.2 295.4 85.0 -0.7 82.3 33.8 103.4 126.2 65.7 140.3 28

 29 Rest of the world 943.4 377.2 123.5 622.9 352.7 410.1 343.8 155.4 684.3 456.7 682.2 29

 30 Financial sectors 3178.2 1972.2 -932.1 -213.4 968.1 1077.5 1315.4 476.2 746.2 1772.0 1830.9 30

 31 Monetary authority -38.3 245.4 1001.6 271.5 376.5 34.5 -33.4 -23.5 -203.4 398.4 1134.2 31

 32 U.S.-chartered depository institutions 585.4 241.9 -336.7 -176.6 126.9 357.8 214.6 391.3 117.1 708.4 93.8 32

 33 Foreign banking offices in U.S. 201.7 100.8 -285.8 -30.8 37.7 -0.7 -55.2 -39.4 83.9 7.7 -89.0 33

 34 Banks in U.S.-affiliated areas -6.4 -1.9 -2.8 -19.3 -4.9 -0.1 -0.6 -4.6 -2.9 7.5 -1.1 34

 35 Credit unions 35.3 40.4 33.5 24.0 37.6 46.0 81.6 35.6 34.4 32.5 69.3 35

 36 Property-casualty insurance companies 5.3 -15.9 33.3 3.9 36.2 -2.5 -13.7 -11.0 1.1 13.6 -8.8 36

 37 Life insurance companies 84.8 11.6 139.8 151.6 123.6 69.4 146.5 -109.5 149.0 91.6 97.4 37

 38 Private pension funds 247.3 -210.5 10.3 124.8 52.5 -37.5 -89.1 16.4 -41.8 -35.4 -128.4 38

 39 State and local govt. retirement funds 40.5 -26.5 -85.8 22.1 2.2 1.6 35.6 -24.3 -32.8 27.8 10.0 39

 40 Federal government retirement funds 12.6 23.9 7.4 10.8 20.0 13.9 5.5 16.9 9.4 23.9 -8.7 40

 41 Money market mutual funds 391.8 727.9 -619.9 -396.6 -9.8 -82.7 -87.2 -139.5 9.6 -113.7 104.6 41

 42 Mutual funds 268.0 32.4 387.1 353.6 359.4 707.6 968.1 642.8 714.7 504.7 778.2 42

 43 Closed-end funds -0.4 -40.7 10.6 5.2 -1.2 11.6 11.6 6.3 13.5 14.8 30.4 43

 44 Exchange-traded funds 13.4 23.0 46.0 29.7 46.1 52.3 65.0 73.7 30.3 40.3 28.1 44

 45 Government-sponsored enterprises 239.0 242.9 -323.0 -315.6 -202.3 -223.2 -174.2 -327.0 -177.1 -214.3 -96.9 45

 46 Agency- and GSE-backed mortgage pools 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 46

 47 ABS issuers 347.6 -397.0 -702.3 -487.8 -243.8 -209.6 -214.3 -251.6 -248.0 -124.5 -142.5 47

 48 Finance companies 7.1 -81.9 -217.6 -104.5 -45.8 -28.1 -54.9 -38.3 -40.6 21.3 -52.2 48

 49 REITs -19.9 -68.9 -8.7 37.1 102.9 127.7 215.8 90.3 263.9 -59.3 -39.9 49

 50 Brokers and dealers 219.7 -85.7 -192.1 32.2 5.7 89.1 227.1 -35.4 21.5 143.3 -171.5 50

 51 Holding companies 23.2 13.9 -16.0 22.1 3.1 -39.8 64.1 -158.2 -28.1 -36.9 26.0 51

 52 Funding corporations -102.8 700.1 -226.2 42.2 -20.0 57.8 -157.4 228.9 -22.4 182.0 31.5 52

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Domestic 2554.0 1921.2 1057.9 1472.3 1352.7 1872.6 1821.9 2024.0 1059.2 2585.4 1850.5 1

 2 By instrument 2554.0 1921.2 1057.9 1472.3 1352.7 1872.6 1821.9 2024.0 1059.2 2585.4 1850.5 2

 3 Commercial paper 11.3 7.7 -73.1 24.5 33.4 14.2 -7.8 29.2 -35.3 70.6 20.0 3

 4 Treasury securities 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 1431.5 1182.8 690.5 1257.5 1198.6 4

 5 Agency- and GSE-backed securities -0.4 0.2 0.1 0.7 1.1 -0.4 -3.3 0.1 -0.3 1.9 -1.0 5

 6 Municipal securities 235.5 92.4 155.3 99.7 -52.8 -4.9 2.8 109.7 -6.8 -125.4 56.7 6

 7 Corporate bonds 323.0 225.4 411.7 438.6 410.8 579.6 523.2 426.0 587.1 782.0 570.2 7

 8 Depository institution loans n.e.c. 228.0 188.4 -303.1 -51.5 71.7 277.6 286.8 396.4 55.4 371.9 67.3 8

 9 Other loans and advances 305.1 87.3 -164.8 -82.4 62.9 -19.1 -111.2 -15.7 -13.7 64.1 52.0 9

 10 Mortgages 1072.2 61.2 -300.6 -519.0 -334.7 -269.4 -441.0 -273.2 -348.4 -15.0 -270.3 10

 11 Home 719.9 -119.1 -203.5 -353.9 -255.3 -241.0 -341.9 -215.8 -306.4 -100.0 -227.6 11

 12 Multifamily residential 89.0 41.7 4.8 -11.8 4.9 17.2 -38.7 26.7 34.6 46.1 -0.5 12

 13 Commercial 258.6 116.6 -98.5 -163.2 -89.1 -52.4 -67.3 -91.0 -83.5 32.0 -49.2 13

 14 Farm 4.6 22.0 -3.4 9.9 4.9 6.9 6.9 6.9 6.9 6.9 6.9 14

 15 Consumer credit 141.9 19.6 -111.5 -17.9 93.4 154.6 141.1 168.7 130.7 177.7 157.1 15

 16 By sector 2554.0 1921.2 1057.9 1472.3 1352.7 1872.6 1821.9 2024.0 1059.2 2585.4 1850.5 16

 17 Household sector 853.5 -25.2 -228.6 -342.5 -201.6 20.4 -126.5 161.0 -232.5 279.5 -77.2 17

 18 Nonfinancial business 1316.7 689.3 -270.5 165.0 539.0 717.4 521.4 587.1 604.3 1156.7 674.9 18

 19 Corporate 855.1 370.5 -150.5 194.6 525.1 646.9 491.8 516.8 559.3 1019.5 664.4 19

 20 Noncorporate 461.6 318.8 -120.0 -29.6 13.9 70.5 29.6 70.3 45.0 137.3 10.6 20

 21 State and local governments 146.7 17.9 113.0 69.5 -52.7 -5.3 -1.0 93.0 -2.8 -110.2 55.2 21

 22 Federal government 237.1 1239.2 1443.9 1580.2 1067.9 1140.2 1428.1 1182.9 690.2 1259.4 1197.6 22

 23 Foreign borrowing in U.S. 170.3 -226.2 211.8 75.3 34.8 43.9 -4.1 -115.0 86.2 208.5 452.4 23

 24 Commercial paper -69.3 -71.0 59.4 -2.7 -53.5 27.6 32.9 -54.2 77.3 54.4 117.6 24

 25 Bonds 218.7 -158.8 163.3 59.9 57.8 -8.5 -73.6 -109.9 -0.0 149.5 294.3 25

 26 Depository institution loans n.e.c. 24.1 5.1 -11.2 17.9 29.2 19.2 29.0 44.8 8.8 -5.9 45.2 26

 27 Other loans and advances -3.2 -1.5 0.3 0.2 1.4 5.7 7.7 4.3 0.2 10.5 -4.7 27

 28 Domestic and foreign 2724.3 1694.9 1269.7 1547.6 1387.5 1916.6 1817.9 1909.0 1145.4 2793.9 2302.9 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 By instrument 1814.2 896.9 -1808.7 -931.7 -435.3 -394.0 -333.7 -697.4 -275.1 -269.8 88.8 1

 2 Open market paper -111.5 -125.4 -448.1 -102.2 -68.2 -58.7 -6.3 -34.7 -32.0 -161.8 22.4 2

 3 GSE issues 282.4 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 3

 4 Agency- and GSE-backed mortgage pool sec. 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 4

 5 Corporate bonds 709.5 -282.9 -585.9 -575.1 -325.9 -208.0 -45.1 -434.2 -244.0 -108.9 -178.6 5

 6 Depository institution loans n.e.c. 80.1 496.4 -435.4 -62.9 31.6 -124.0 -150.8 -301.2 50.1 -93.9 -25.7 6

 7 Other loans and advances 225.8 33.3 -282.6 -144.7 -60.0 3.5 -26.5 66.6 -43.1 16.9 38.6 7

 8 Mortgages 4.7 6.8 3.4 0.2 9.1 15.6 10.4 24.9 12.2 14.9 22.7 8

 9 By sector 1814.2 896.9 -1808.7 -931.7 -435.3 -394.0 -333.7 -697.4 -275.1 -269.8 88.8 9

 10 U.S.-chartered depository institutions 222.5 -0.9 -292.2 -161.7 -73.9 -27.2 -41.4 -10.1 -97.8 40.4 -12.1 10

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

 12 Credit unions 13.4 8.3 -14.1 -0.4 -2.0 0.9 -5.1 3.3 2.6 2.8 -11.4 12

 13 Life insurance companies 14.5 26.2 -6.6 -3.2 1.8 4.8 6.6 15.7 -0.2 -3.0 5.2 13

 14 Government-sponsored enterprises 282.4 271.7 -475.3 -233.8 -187.2 -154.6 -274.9 -155.0 -113.2 -75.4 43.1 14

 15 Agency- and GSE-backed mortgage pools 623.3 497.0 415.3 186.9 165.3 132.2 159.6 136.2 94.9 138.4 166.3 15

 16 ABS issuers 350.5 -413.5 -736.9 -497.5 -248.0 -216.0 -223.4 -263.2 -251.9 -125.5 -146.7 16

 17 Finance companies 34.9 -79.4 -156.2 -174.9 -12.8 -53.7 -25.0 -122.9 81.6 -148.7 -55.2 17

 18 REITs 10.2 -53.8 -50.0 -2.1 28.2 42.9 26.6 57.3 27.4 60.4 16.0 18

 19 Brokers and dealers -4.0 77.7 -49.7 36.9 -37.9 -1.7 24.8 16.5 -65.2 17.3 -4.3 19

 20 Holding companies 151.9 97.3 -8.0 -16.5 -16.5 -97.7 12.3 -360.2 26.2 -69.3 -24.4 20

 21 Funding corporations 114.5 466.4 -434.8 -65.3 -52.4 -23.8 6.2 -15.1 20.7 -107.1 112.3 21
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F.4 Credit Market Borrowing, All Sectors, by Instrument

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total 4538.5 2591.8 -539.0 615.9 952.3 1522.6 1484.2 1211.6 870.3 2524.2 2391.6 1

 2 Open market paper -169.5 -188.8 -461.8 -80.4 -88.3 -17.0 18.8 -59.7 10.0 -36.8 159.9 2

 3 Treasury securities 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 1431.5 1182.8 690.5 1257.5 1198.6 3

 4 Agency- and GSE-backed securities 905.3 768.9 -59.9 -46.2 -20.8 -22.8 -118.7 -18.7 -18.6 64.9 208.4 4

 5 Municipal securities 235.5 92.4 155.3 99.7 -52.8 -4.9 2.8 109.7 -6.8 -125.4 56.7 5

 6 Corporate and foreign bonds 1251.2 -216.3 -10.9 -76.6 142.6 363.0 404.4 -118.1 343.1 822.7 685.9 6

 7 Depository institution loans n.e.c. 332.1 689.9 -749.7 -96.5 132.5 172.9 165.0 140.0 114.3 272.2 86.8 7

 8 Other loans and advances 527.7 119.1 -447.0 -226.9 4.3 -10.0 -130.1 55.3 -56.7 91.5 85.9 8

 9 Mortgages 1076.8 68.0 -297.2 -518.8 -325.6 -253.8 -430.6 -248.3 -336.2 -0.1 -247.7 9

 10 Consumer credit 141.9 19.6 -111.5 -17.9 93.4 154.6 141.1 168.7 130.7 177.7 157.1 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues -97.9 254.9 812.6 362.4 119.5 548.0 926.5 258.0 632.3 375.2 1241.6 11

 12 Corporate equities -459.5 264.8 315.5 -7.7 -218.9 -187.7 -195.4 -302.6 -151.9 -100.9 244.2 12

 13 Nonfinancial -786.8 -336.0 -64.6 -278.0 -472.5 -400.7 -291.8 -508.2 -397.1 -405.8 -259.5 13

 Foreign shares purchased by

 14 U.S. residents 147.8 -38.5 63.7 79.1 89.0 61.0 59.2 83.8 -8.6 109.6 294.2 14

 15 Financial 179.6 639.3 316.4 191.2 164.5 152.0 37.1 121.8 253.8 195.2 209.5 15

 16 Mutual fund shares 361.5 -9.9 497.1 370.1 338.4 735.7 1121.9 560.7 784.2 476.1 997.5 16

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 Net flows through credit markets

 1 (from table F.4, line 1) 4538.5 2591.8 -539.0 615.9 952.3 1522.6 1484.2 1211.6 870.3 2524.2 2391.6 1

 2 U.S. official reserve assets 0.1 4.8 99.9 1.8 15.9 4.5 4.9 13.2 3.3 -3.6 -3.0 2

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

 4 Treasury currency -0.7 -0.8 -0.4 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Foreign deposits 256.0 -394.3 -106.0 25.9 -32.4 -42.0 -124.3 -134.6 165.1 -74.2 126.6 5

 6 Net interbank transactions -53.4 1823.0 -590.9 -132.9 844.5 -211.3 142.7 -461.9 -249.2 -276.9 1885.9 6

 7 Checkable deposits and currency 36.7 568.4 -7.9 266.3 234.5 268.5 -73.4 313.3 228.0 606.1 297.4 7

 8 Small time and savings deposits 316.4 524.8 517.2 298.3 577.4 539.7 378.9 473.4 584.4 721.9 87.5 8

 9 Large time deposits 283.4 -190.6 -141.8 -182.3 -204.6 -23.6 -87.5 -4.8 -144.5 142.5 -61.1 9

 10 Money market fund shares 736.8 724.2 -498.7 -503.2 -112.8 7.1 -207.3 -164.5 64.2 335.9 -152.7 10

 11 Security RPs -0.1 -888.0 232.0 -197.1 -133.4 -14.0 200.0 -105.8 -189.6 39.3 -130.9 11

 12 Corporate equities -459.5 264.8 315.5 -7.7 -218.9 -187.7 -195.4 -302.6 -151.9 -100.9 244.2 12

 13 Mutual fund shares 361.5 -9.9 497.1 370.1 338.4 735.7 1121.9 560.7 784.2 476.1 997.5 13

 14 Trade payables 202.0 -170.0 -23.1 225.5 48.6 189.3 253.8 166.9 208.1 128.2 120.9 14

 15 Security credit 276.5 -397.9 -95.9 123.6 97.8 188.9 176.2 155.0 249.4 174.9 -142.6 15

 16 Life insurance reserves 34.2 67.0 26.5 17.2 94.1 -11.6 -9.6 -73.2 11.8 24.6 26.7 16

 17 Pension fund reserves 567.5 53.6 30.2 335.2 263.6 239.4 213.1 181.1 328.5 234.8 63.6 17

 18 Taxes payable -69.3 -123.8 -3.4 19.4 20.5 11.9 13.3 22.6 21.7 -10.1 61.1 18

 19 Noncorporate proprietors’ equity 18.4 -284.0 -32.3 143.6 -8.6 -30.3 0.6 -27.4 -34.9 -59.3 -41.1 19

 20 Miscellaneous 2425.5 2269.9 -329.6 1041.8 1158.3 705.2 480.2 645.3 797.8 897.3 1182.6 20

 21 Total financial sources 9470.7 6433.2 -647.5 2461.4 3935.3 3892.0 3772.2 2468.2 3546.7 5780.9 6954.0 21

 - Liabilities not identified as assets:

 22 Treasury currency -1.2 -0.8 -4.4 -1.1 -0.7 -0.6 -0.8 -0.5 -0.5 -0.5 -0.9 22

 23 Foreign deposits 205.3 -330.4 -118.1 6.5 38.3 -18.2 -54.8 -52.3 128.2 -93.9 100.9 23

 24 Net interbank liabilities 3.8 60.7 29.1 22.1 20.3 6.6 66.2 -291.0 202.8 48.4 186.7 24

 25 Security RPs -205.0 -590.0 465.4 -76.7 -118.7 -106.6 84.2 -239.8 -317.2 46.4 -513.7 25

 26 Taxes payable -36.5 -64.0 -32.6 -10.5 -16.0 -40.7 -68.2 -2.8 -26.7 -65.2 9.9 26

 27 Miscellaneous -376.2 2029.8 -264.7 196.3 -39.2 -127.9 -255.8 -315.8 569.8 -509.9 -230.7 27

 - Floats not included in assets:

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

 29 Federal govt. 1.2 -3.3 0.7 0.0 -0.1 0.6 -46.2 100.3 2.6 -54.2 -45.0 29

 30 Private domestic -0.1 -2.0 -1.0 -1.1 0.9 0.7 -1.1 -0.3 -0.8 4.8 -6.4 30

 31 Trade credit -23.9 29.0 105.4 91.7 -50.4 60.6 17.5 57.9 42.3 124.9 137.6 31

 Totals identified to sectors

 32 as assets 9903.4 5304.3 -827.3 2234.1 4101.0 4117.4 4031.1 3212.5 2946.0 6279.9 7315.5 32
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L.1 Credit Market Debt Outstanding (1)

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total credit market debt owed by: 50953.0 53353.2 53252.5 53620.8 54589.6 56447.3 55022.6 55232.1 55755.3 56447.3 56999.4 1

 2 Domestic nonfinancial sectors 32622.3 34543.4 35473.7 36909.5 38267.5 40121.4 38715.1 39100.4 39437.8 40121.4 40570.3 2

 3 Household sector 13689.3 13669.0 13397.0 13059.9 12863.7 12819.3 12791.0 12823.0 12726.0 12819.3 12758.4 3

 4 Nonfinancial corporate business 7198.5 7564.0 7329.5 7485.9 8012.6 8704.7 8125.4 8257.6 8459.6 8704.7 8859.1 4

 5 Nonfinancial noncorporate business 3774.6 4093.4 3973.3 3940.0 3952.4 4023.6 3960.5 3976.3 3987.1 4023.6 4027.9 5

 6 State and local governments 2837.5 2855.4 2968.4 3038.0 2985.3 2980.0 2986.3 2993.3 2985.3 2980.0 2994.9 6

 7 Federal government 5122.3 6361.5 7805.4 9385.6 10453.6 11593.7 10851.9 11050.1 11279.9 11593.7 11930.1 7

 8 Rest of the world 2126.3 1708.8 2090.3 2225.3 2276.7 2414.7 2318.3 2297.9 2366.0 2414.7 2532.9 8

 9 Financial sectors 16204.5 17101.0 15688.5 14486.0 14045.4 13911.3 13989.3 13833.8 13951.5 13911.3 13896.2 9

 10 U.S.-chartered depository institutions 991.2 990.3 718.1 942.6 868.7 840.3 840.8 844.7 822.2 840.3 820.7 10

 11 Foreign banking offices in U.S. 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit unions 32.3 40.6 26.5 26.1 24.2 25.1 22.9 23.7 24.4 25.1 22.2 12

 13 Life insurance companies 28.7 54.9 48.3 45.1 46.8 51.6 48.5 52.4 52.4 51.6 52.9 13

 14 Government-sponsored enterprises 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 14

 15 Agency- and GSE-backed mortgage pools 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 15

 16 ABS issuers 4514.5 4101.0 3287.6 2230.8 1982.8 1766.8 1922.8 1862.0 1800.5 1766.8 1726.1 16

 17 Finance companies 1279.6 1200.3 1044.1 1281.0 1262.9 1209.1 1251.8 1235.9 1246.2 1209.1 1191.0 17

 18 REITs 421.2 367.4 317.4 315.2 343.4 386.3 350.1 364.4 371.2 386.3 390.3 18

 19 Brokers and dealers 64.8 142.6 92.9 129.7 91.8 90.2 98.0 102.1 85.8 90.2 89.1 19

 20 Holding companies 710.6 807.9 1253.7 1237.2 1220.8 1418.6 1303.9 1213.9 1428.7 1418.6 1412.5 20

 21 Funding corporations 786.4 1252.8 816.8 704.2 651.8 593.6 642.0 617.4 600.6 593.6 625.2 21

 22 Total credit market assets held by: 50953.0 53353.2 53252.5 53620.8 54589.6 56447.3 55022.6 55232.1 55755.3 56447.3 56999.4 22

 23 Domestic nonfinancial sectors 7036.4 7210.6 7878.9 8291.9 7669.9 7790.1 7703.7 7705.0 7746.4 7790.1 7809.9 23

 24 Household sector 4865.4 5204.1 5648.4 5928.1 5401.6 5468.8 5438.4 5414.7 5419.1 5468.8 5464.9 24

 25 Nonfinancial corporate business 248.4 213.7 223.7 230.1 224.8 246.3 227.9 234.7 248.3 246.3 230.3 25

 26 Nonfinancial noncorporate business 106.7 95.8 89.1 95.8 96.8 98.0 96.9 97.1 97.3 98.0 98.2 26

 27 State and local governments 1534.8 1330.6 1255.7 1291.1 1200.6 1148.5 1184.6 1183.4 1170.3 1148.5 1151.9 27

 28 Federal government 281.1 366.4 661.8 746.9 746.2 828.5 755.8 775.0 811.5 828.5 864.6 28

 29 Rest of the world 7272.2 7523.7 7723.4 8498.9 9122.0 9640.1 9190.6 9291.8 9543.7 9640.1 9820.0 29

 30 Financial sectors 36644.5 38618.9 37650.2 36830.0 37797.7 39017.1 38128.3 38235.3 38465.3 39017.1 39369.4 30

 31 Monetary authority 740.6 986.0 1987.7 2259.2 2635.6 2670.1 2613.4 2610.9 2565.1 2670.1 2939.8 31

 32 U.S.-chartered depository institutions 9201.0 9442.9 9131.1 9341.5 9468.4 9815.1 9462.8 9564.3 9622.3 9815.1 9789.9 32

 33 Foreign banking offices in U.S. 963.3 1063.8 777.9 747.1 784.9 784.1 775.5 760.4 778.3 784.1 766.9 33

 34 Banks in U.S.-affiliated areas 92.8 90.9 88.1 68.9 64.0 63.9 63.9 62.7 62.0 63.9 63.6 34

 35 Credit unions 657.9 701.1 734.6 758.6 796.2 842.3 814.6 829.1 837.8 842.3 857.6 35

 36 Property-casualty insurance companies 869.3 853.4 886.7 890.6 926.8 924.3 923.4 920.6 920.9 924.3 922.1 36

 37 Life insurance companies 2871.2 2882.8 3022.6 3174.2 3297.9 3367.3 3333.6 3307.7 3349.5 3367.3 3390.8 37

 38 Private pension funds 1043.4 833.0 843.3 968.0 1020.5 983.0 998.2 1002.3 991.9 983.0 950.9 38

 39 State and local govt. retirement funds 849.5 823.0 737.2 759.3 761.5 763.0 770.4 764.3 756.1 763.0 765.5 39

 40 Federal government retirement funds 99.4 123.3 130.7 141.5 161.6 175.5 163.0 167.2 169.5 175.5 173.3 40

 41 Money market mutual funds 1962.0 2689.9 2070.0 1673.4 1663.6 1580.9 1600.7 1528.4 1520.2 1580.9 1562.8 41

 42 Mutual funds 2196.7 2229.2 2616.3 2969.9 3329.3 4036.9 3581.7 3741.5 3907.7 4036.9 4243.1 42

 43 Closed-end funds 171.2 130.4 141.1 146.3 145.1 156.7 148.0 149.6 153.0 156.7 164.3 43

 44 Exchange-traded funds 34.1 57.1 103.0 132.7 178.8 231.1 195.1 213.5 221.1 231.1 238.2 44

 45 Government-sponsored enterprises 2829.5 3037.5 2714.4 6360.5 6158.2 5935.1 6121.9 6033.0 5971.7 5935.1 5920.4 45

 46 Agency- and GSE-backed mortgage pools 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 46

 47 ABS issuers 4399.8 4002.8 3224.0 2179.0 1935.3 1725.7 1877.5 1819.6 1759.1 1725.7 1686.0 47

 48 Finance companies 1816.3 1734.4 1516.7 1440.1 1394.3 1361.2 1382.3 1365.7 1363.8 1361.2 1351.6 48

 49 REITs 246.5 177.6 168.9 206.0 308.9 436.6 362.9 385.5 451.4 436.6 426.6 49

 50 Brokers and dealers 803.1 717.4 525.3 557.5 563.2 652.3 610.7 600.5 589.1 652.3 600.4 50

 51 Holding companies 59.1 73.0 75.8 97.9 101.1 219.5 223.0 183.4 229.9 219.5 226.0 51

 52 Funding corporations 273.3 1008.0 778.0 818.2 797.9 855.5 776.1 847.8 837.0 855.5 866.9 52

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

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Domestic 32622.3 34543.4 35473.7 36909.5 38267.5 40121.4 38715.1 39100.4 39437.8 40121.4 40570.3 1

 2 By instrument 32622.3 34543.4 35473.7 36909.5 38267.5 40121.4 38715.1 39100.4 39437.8 40121.4 40570.3 2

 3 Commercial paper 123.8 131.5 58.4 82.9 116.3 130.5 127.6 132.1 136.1 130.5 140.2 3

 4 Treasury securities 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 10827.5 11025.6 11255.5 11568.9 11905.5 4

 5 Agency- and GSE-backed securities 23.1 23.3 23.5 24.2 25.3 24.9 24.4 24.5 24.4 24.9 24.6 5

 6 Municipal securities 3424.8 3517.2 3672.5 3772.1 3719.4 3714.4 3720.0 3732.4 3719.4 3714.4 3728.6 6

 7 Corporate bonds 3729.1 3954.5 4366.2 4804.8 5215.6 5795.2 5346.4 5452.9 5599.7 5795.2 5937.7 7

 8 Depository institution loans n.e.c. 1664.2 1852.6 1500.2 1465.5 1542.6 1746.4 1585.7 1685.6 1645.7 1746.4 1748.6 8

 9 Other loans and advances 1620.0 1707.3 1458.4 1304.4 1367.3 1410.2 1352.7 1348.6 1397.3 1410.2 1428.7 9

 10 Mortgages 14431.8 14493.0 14192.4 13571.8 13237.1 12962.7 13124.9 13052.2 12954.2 12962.7 12894.0 10

 11 Home 11207.4 11096.7 10893.2 10426.3 10171.0 9925.0 10084.8 10026.2 9936.7 9925.0 9868.0 11

 12 Multifamily residential 770.0 816.2 821.0 810.4 815.2 832.4 805.6 812.2 820.9 832.4 832.3 12

 13 Commercial 2341.7 2445.4 2346.9 2193.9 2104.8 2052.3 2086.8 2064.2 2045.3 2052.3 2038.9 13

 14 Farm 112.7 134.7 131.3 141.2 146.1 153.0 147.8 149.5 151.3 153.0 154.7 14

 15 Consumer credit 2506.3 2525.9 2420.2 2522.2 2615.7 2768.2 2605.9 2646.6 2705.5 2768.2 2762.4 15

 16 By sector 32622.3 34543.4 35473.7 36909.5 38267.5 40121.4 38715.1 39100.4 39437.8 40121.4 40570.3 16

 17 Household sector 13689.3 13669.0 13397.0 13059.9 12863.7 12819.3 12791.0 12823.0 12726.0 12819.3 12758.4 17

 18 Nonfinancial business 10973.1 11657.4 11302.8 11426.0 11965.0 12728.3 12085.9 12234.0 12446.7 12728.3 12886.9 18

 19 Corporate 7198.5 7564.0 7329.5 7485.9 8012.6 8704.7 8125.4 8257.6 8459.6 8704.7 8859.1 19

 20 Noncorporate 3774.6 4093.4 3973.3 3940.0 3952.4 4023.6 3960.5 3976.3 3987.1 4023.6 4027.9 20

 21 State and local governments 2837.5 2855.4 2968.4 3038.0 2985.3 2980.0 2986.3 2993.3 2985.3 2980.0 2994.9 21

 22 Federal government 5122.3 6361.5 7805.4 9385.6 10453.6 11593.7 10851.9 11050.1 11279.9 11593.7 11930.1 22

 Foreign credit market debt

 23 held in U.S. 2126.3 1708.8 2090.3 2225.3 2276.7 2414.7 2318.3 2297.9 2366.0 2414.7 2532.9 23

 24 Commercial paper 413.0 342.0 401.3 398.6 345.1 372.7 362.6 357.4 366.4 372.7 407.2 24

 25 Bonds 1587.1 1237.3 1570.3 1689.5 1763.8 1843.6 1775.3 1748.0 1802.3 1843.6 1917.2 25

 26 Depository institution loans n.e.c. 102.8 107.9 96.8 115.1 144.3 165.5 153.6 164.8 167.0 165.5 176.8 26

 27 Other loans and advances 23.4 21.6 21.9 22.1 23.5 32.8 26.7 27.8 30.2 32.8 31.6 27

 28 Domestic and foreign 34748.6 36252.2 37564.0 39134.8 40544.2 42536.1 41033.4 41398.3 41803.8 42536.1 43103.2 28

L.3 Credit Market Debt Owed by Financial Sectors

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

 1 By instrument 16204.5 17101.0 15688.5 14486.0 14045.4 13911.3 13989.3 13833.8 13951.5 13911.3 13896.2 1

 2 Open market paper 1252.1 1126.3 678.2 576.0 507.9 449.2 504.3 472.6 454.7 449.2 453.8 2

 3 GSE issues 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 3

 4 Agency- and GSE-backed mortgage pool sec. 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 4

 5 Corporate bonds 6260.8 5977.9 5717.5 5322.1 4996.2 4985.3 5045.0 4946.0 5019.6 4985.3 4936.8 5

 6 Depository institution loans n.e.c. 293.1 789.5 424.7 373.7 399.9 338.7 362.6 299.7 365.3 338.7 332.2 6

 7 Other loans and advances 867.1 900.5 617.9 473.2 413.1 416.6 390.2 413.3 404.4 416.6 409.7 7

 8 Mortgages 156.7 163.5 166.9 167.1 176.2 191.8 178.8 185.0 188.0 191.8 197.4 8

 9 By sector 16204.5 17101.0 15688.5 14486.0 14045.4 13911.3 13989.3 13833.8 13951.5 13911.3 13896.2 9

 10 U.S.-chartered depository institutions 991.2 990.3 718.1 942.6 868.7 840.3 840.8 844.7 822.2 840.3 820.7 10

 11 Foreign banking offices in U.S. 0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit unions 32.3 40.6 26.5 26.1 24.2 25.1 22.9 23.7 24.4 25.1 22.2 12

 13 Life insurance companies 28.7 54.9 48.3 45.1 46.8 51.6 48.5 52.4 52.4 51.6 52.9 13

 14 Government-sponsored enterprises 2910.2 3181.9 2706.6 6434.5 6247.3 6092.7 6178.6 6139.8 6111.5 6092.7 6103.5 14

 15 Agency- and GSE-backed mortgage pools 4464.4 4961.4 5376.7 1139.5 1304.8 1437.0 1329.9 1377.3 1408.0 1437.0 1462.7 15

 16 ABS issuers 4514.5 4101.0 3287.6 2230.8 1982.8 1766.8 1922.8 1862.0 1800.5 1766.8 1726.1 16

 17 Finance companies 1279.6 1200.3 1044.1 1281.0 1262.9 1209.1 1251.8 1235.9 1246.2 1209.1 1191.0 17

 18 REITs 421.2 367.4 317.4 315.2 343.4 386.3 350.1 364.4 371.2 386.3 390.3 18

 19 Brokers and dealers 64.8 142.6 92.9 129.7 91.8 90.2 98.0 102.1 85.8 90.2 89.1 19

 20 Holding companies 710.6 807.9 1253.7 1237.2 1220.8 1418.6 1303.9 1213.9 1428.7 1418.6 1412.5 20

 21 Funding corporations 786.4 1252.8 816.8 704.2 651.8 593.6 642.0 617.4 600.6 593.6 625.2 21
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L.4 Credit Market Debt, All Sectors, by Instrument

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total 50953.0 53353.2 53252.5 53620.8 54589.6 56447.3 55022.6 55232.1 55755.3 56447.3 56999.4 1

 2 Open market paper 1788.9 1599.8 1138.0 1057.6 969.3 952.3 994.4 962.0 957.2 952.3 1001.2 2

 3 Treasury securities 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 10827.5 11025.6 11255.5 11568.9 11905.5 3

 4 Agency- and GSE-backed securities 7397.7 8166.7 8106.8 7598.2 7577.4 7554.6 7533.0 7541.7 7543.9 7554.6 7590.8 4

 5 Municipal securities 3424.8 3517.2 3672.5 3772.1 3719.4 3714.4 3720.0 3732.4 3719.4 3714.4 3728.6 5

 6 Corporate and foreign bonds 11577.0 11169.7 11654.0 11816.3 11975.5 12624.1 12166.7 12146.9 12421.6 12624.1 12791.7 6

 7 Depository institution loans n.e.c. 2060.1 2750.0 2021.7 1954.3 2086.8 2250.6 2101.9 2150.1 2178.0 2250.6 2257.7 7

 8 Other loans and advances 2510.6 2629.3 2098.1 1799.7 1803.9 1859.6 1769.6 1789.6 1831.9 1859.6 1870.0 8

 9 Mortgages 14588.5 14656.5 14359.3 13738.9 13413.3 13154.5 13303.7 13237.2 13142.2 13154.5 13091.4 9

 10 Consumer credit 2506.3 2525.9 2420.2 2522.2 2615.7 2768.2 2605.9 2646.6 2705.5 2768.2 2762.4 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 25580.9 15640.5 20085.5 23370.8 22737.3 26028.4 25432.9 24351.5 25742.1 26028.4 28438.4 11

 12 Mutual fund shares 7822.6 5388.0 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10014.6 12

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

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

 Total credit market debt

 1 (from table L.4) 50953.0 53353.2 53252.5 53620.8 54589.6 56447.3 55022.6 55232.1 55755.3 56447.3 56999.4 1

 2 U.S. official reserve assets 67.3 74.2 175.1 175.8 183.8 181.8 184.5 181.7 184.7 181.8 175.5 2

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

 4 Treasury currency 27.4 26.6 26.2 25.9 25.9 25.9 25.9 25.9 25.9 25.9 25.9 4

 5 Foreign deposits 1340.9 946.7 840.6 866.5 834.1 792.1 803.0 769.4 810.6 792.1 823.7 5

 6 Net interbank liabilities 136.3 1922.9 1325.6 1189.3 2016.0 1828.8 2027.5 1980.0 1911.3 1828.8 2271.1 6

 7 Checkable deposits and currency 1532.9 2101.3 2093.4 2359.8 2594.3 2857.8 2520.5 2594.3 2640.4 2857.8 2877.1 7

 8 Small time and savings deposits 5224.5 5749.3 6326.5 6624.9 7202.2 7803.9 7410.5 7456.9 7595.4 7803.9 7871.4 8

 9 Large time deposits 2382.2 2191.6 1989.8 1807.5 1603.0 1508.5 1504.3 1511.1 1485.0 1508.5 1491.0 9

 10 Money market fund shares 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2535.5 2467.9 2506.9 2649.6 2554.0 10

 11 Security RPs 2150.4 1262.5 1496.9 1276.0 1148.0 1122.9 1194.6 1183.6 1149.0 1122.9 1097.5 11

 12 Mutual fund shares 7822.6 5388.0 6920.7 7873.0 7870.9 9323.6 8797.4 8653.4 9131.0 9323.6 10014.6 12

 13 Security credit 1526.4 1128.5 1091.2 1214.8 1312.6 1512.5 1375.5 1410.2 1482.4 1512.5 1484.5 13

 14 Life insurance reserves 1201.5 1179.8 1242.1 1278.3 1352.0 1359.0 1366.9 1342.3 1353.2 1359.0 1379.1 14

 15 Pension fund reserves 13236.1 10567.7 11959.2 13209.9 13434.1 14444.1 14117.1 13943.1 14402.2 14444.1 15007.6 15

 16 Trade payables 3398.0 3228.0 3204.9 3430.3 3478.9 3665.7 3532.1 3592.9 3636.9 3665.7 3689.6 16

 17 Taxes payable 167.7 44.0 40.6 54.3 75.0 81.2 85.5 83.1 93.0 81.2 109.5 17

 18 Miscellaneous 17197.7 19811.0 19778.8 20240.8 20606.5 21130.8 20863.1 20754.1 21050.0 21130.8 20714.5 18

 19 Total liabilities 111400.3 112734.6 115027.6 118008.3 120974.7 126740.9 123371.8 123187.2 125218.5 126740.9 128591.3 19

 + Financial assets not included in

 liabilities:

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

 21 Corporate equities 25580.9 15640.5 20085.5 23370.8 22737.3 26028.4 25432.9 24351.5 25742.1 26028.4 28438.4 21

 22 Household equity in noncorp. bus. 9329.1 7730.8 6459.8 7120.5 7673.2 8141.4 7713.7 7784.0 8016.5 8141.4 8194.6 22

 - Liabilities not identified as assets:

 23 Treasury currency -11.3 -12.1 -16.5 -17.6 -18.3 -18.8 -18.5 -18.6 -18.7 -18.8 -19.0 23

 24 Foreign deposits 1110.0 779.5 661.4 668.0 706.3 688.1 692.6 679.5 711.6 688.1 713.3 24

 25 Net interbank transactions -41.8 -17.5 5.1 23.8 26.4 54.0 30.0 17.0 64.9 54.0 82.0 25

 26 Security RPs 723.6 143.1 520.3 413.8 300.4 173.4 336.8 301.4 204.2 173.4 70.5 26

 27 Taxes payable -52.9 -193.3 -204.4 -194.7 -187.8 -189.2 -180.5 -186.4 -176.1 -189.2 -165.9 27

 28 Miscellaneous -8485.5 -6070.2 -6408.3 -6816.6 -7810.5 -8928.9 -8161.7 -8516.8 -8600.9 -8928.9 -8679.1 28

 - Floats not included in assets:

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

 30 Federal govt. 2.8 1.2 2.0 2.5 2.5 2.3 2.9 3.4 3.2 2.3 1.5 30

 31 Private domestic 7.3 5.3 4.2 3.2 4.1 4.7 3.7 3.8 3.7 4.7 3.1 31

 32 Trade credit 206.8 235.7 341.1 436.6 386.1 444.3 319.7 302.4 321.6 444.3 409.5 32

 33 Totals identified to sectors as assets 152862.5 141245.3 146679.1 153991.8 157987.2 168691.8 163504.3 162748.1 166474.6 168691.8 172819.6 33
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F.6 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross Domestic Product (GDP) 14028.7 14291.5 13973.7 14498.9 15075.7 15684.8 15478.3 15585.6 15811.0 15864.1 16004.5 1

 2 Personal consumption expenditures (2) 9772.3 10035.5 9845.9 10215.7 10729.0 11119.6 11007.2 11067.2 11154.4 11249.6 11372.7 2

 3 Durable goods 1188.4 1108.9 1029.6 1079.4 1146.4 1218.9 1204.6 1200.3 1218.9 1252.0 1273.5 3

 4 Nondurable goods 2175.5 2272.8 2164.8 2285.5 2478.4 2564.2 2551.3 2541.2 2573.6 2590.8 2599.4 4

 5 Services 6408.3 6653.8 6651.5 6850.9 7104.2 7336.4 7251.3 7325.7 7361.9 7406.9 7499.8 5

 6 Gross private domestic investment 2295.2 2087.6 1549.3 1737.3 1854.9 2062.3 2032.2 2041.7 2080.1 2095.1 2151.1 6

 7 Fixed investment 2266.1 2128.7 1703.5 1679.0 1818.3 2004.2 1959.7 1986.9 1997.9 2072.4 2102.8 7

 8 Nonresidential 1637.5 1656.3 1349.3 1338.4 1479.6 1621.3 1595.5 1614.1 1610.0 1665.5 1677.3 8

 9 Household sector (nonprofit organizations) 120.2 132.0 123.9 109.9 112.0 118.8 119.0 119.5 117.5 119.3 120.7 9

 10 Nonfinancial corporate business 1104.7 1130.9 903.0 918.1 1021.5 1119.2 1101.4 1114.1 1111.5 1149.8 1157.5 10

 11 Nonfinancial noncorporate business 225.0 198.4 158.0 155.6 173.3 191.6 187.5 191.9 190.8 196.3 194.7 11

 12 Financial institutions 187.5 195.0 164.4 154.8 172.9 191.6 187.6 188.6 190.2 200.0 204.5 12

 13 Residential 628.7 472.4 354.1 340.6 338.7 382.9 364.2 372.8 387.9 406.9 425.4 13

 14 Household sector 541.7 397.2 295.5 288.9 286.4 314.7 298.2 306.2 319.2 335.2 350.8 14

 15 Nonfinancial corporate business 15.7 5.5 4.4 -1.0 -2.5 9.8 9.3 8.1 10.1 11.5 12.4 15

 16 Nonfinancial noncorporate business 80.5 69.6 54.3 48.0 48.6 53.2 51.9 52.1 53.5 55.4 57.3 16

 17 REITs -9.3 0.1 -0.1 4.7 6.3 5.3 4.9 6.4 5.1 4.9 4.9 17

 18 Change in private inventories 29.1 -41.1 -154.2 58.4 36.6 58.1 72.6 54.8 82.3 22.7 48.3 18

 19 Nonfinancial corporate business 28.2 -40.2 -145.3 60.7 39.1 66.5 71.9 61.0 96.9 36.4 36.2 19

 20 Nonfinancial noncorporate business 0.9 -0.9 -8.9 -2.3 -2.5 -8.5 0.7 -6.3 -14.6 -13.7 12.2 20

 21 Net U.S. exports of goods and services -713.1 -709.7 -388.7 -511.6 -568.1 -559.9 -615.8 -576.9 -516.8 -530.2 -543.0 21

 22 Exports 1661.7 1846.8 1587.4 1844.4 2094.2 2184.0 2157.9 2188.5 2198.7 2191.1 2203.8 22

 23 - Imports 2374.8 2556.5 1976.2 2356.1 2662.3 2744.0 2773.7 2765.4 2715.5 2721.3 2746.8 23

 Government consumption expenditures and

 24 gross investment 2674.2 2878.1 2967.2 3057.5 3059.8 3062.8 3054.6 3053.7 3093.3 3049.7 3023.7 24

 25 Consumption expenditures (3) 2217.8 2381.0 2460.3 2552.0 2579.5 2590.5 2586.9 2580.3 2618.7 2575.9 2567.1 25

 26 Federal 848.9 931.7 987.0 1055.8 1061.5 1059.6 1055.6 1054.8 1086.3 1041.9 1031.5 26

 27 State and local 1368.9 1449.2 1473.3 1496.2 1518.0 1530.8 1531.4 1525.5 1532.4 1534.0 1535.6 27

 28 Gross investment (3) 456.5 497.2 506.9 505.5 480.2 472.3 467.6 473.4 474.5 473.7 456.5 28

 29 Federal 127.4 148.4 156.6 167.3 160.5 154.6 152.1 155.9 155.1 155.4 145.8 29

 30 State and local 329.0 348.8 350.3 338.2 319.7 317.7 315.5 317.5 319.5 318.3 310.8 30

 Memo:

 31 Net U.S. income receipts from rest of the world 123.3 169.2 143.5 209.3 251.9 243.0 214.9 247.3 243.1 266.6 232.2 31

 32 U.S. income receipts 871.0 856.1 642.4 716.5 783.7 782.3 769.6 775.1 775.8 808.5 786.7 32

 33 - U.S. income payments 747.7 686.9 498.9 507.2 531.8 539.3 554.7 527.8 532.7 541.8 554.4 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 14151.9 14460.7 14117.2 14708.2 15327.5 15927.8 15693.2 15832.9 16054.2 16130.8 16236.8 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -11.3 -11.2 -9.9 -9.2 -9.3 -8.8 -9.1 -8.9 -8.8 -8.6 -8.4 35

 36 Nonfinancial corporate business -1.7 16.3 4.4 -2.6 -2.1 -2.8 -1.6 -1.9 -4.0 -3.6 -3.6 36

 37 State and local governments 13.8 14.1 12.7 11.5 11.5 10.9 11.2 11.0 10.8 10.6 10.4 37

 38 Federal governments -1.3 -19.2 -7.1 0.2 -0.1 0.7 -0.5 -0.2 1.9 1.6 1.7 38

 39 Rest of the world 0.5 -0.0 0.0 -0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 39

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 National Income 12396.4 12609.1 12132.6 12811.4 13358.9 13875.9 13707.2 13750.5 13895.9 14150.0 14236.2 1

 2 Compensation of employees 7855.9 8068.3 7799.4 7970.0 8295.2 8592.9 8495.7 8527.7 8577.6 8770.4 8765.1 2

 3 Wages and other labor income 7402.2 7603.2 7337.5 7501.9 7800.3 8078.1 7985.4 8016.8 8064.8 8245.3 8235.4 3

 4 Employer social insurance contributions 459.9 470.1 456.9 468.1 494.9 514.8 510.2 510.8 512.9 525.1 529.7 4

 5 Wage accruals less disbursements -6.3 -5.0 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Proprietors’ income with inventory

 6 valuation and capital consumption adjustments 1090.4 1097.9 979.4 1103.4 1157.3 1202.3 1184.3 1194.9 1205.4 1224.7 1264.0 6

 Rental income of persons (with capital

 7 consumption adjustment) 143.7 231.6 289.7 349.2 409.7 462.6 445.3 452.8 471.0 481.5 505.1 7

 Corporate profits with inventory

 8 valuation and capital consumption adjustments 1510.6 1248.4 1342.3 1702.4 1827.0 1950.6 1900.1 1921.9 1967.6 2013.0 1969.2 8

 Corporate profits with inventory

 9 valuation adjustment 1691.1 1315.5 1443.6 1777.7 1791.6 2151.3 2100.8 2124.3 2167.5 2212.5 2155.8 9

 10 Profits before tax 1738.4 1359.9 1440.5 1816.3 1854.1 2162.2 2124.5 2108.2 2194.4 2221.7 2171.9 10

 11 Domestic nonfinancial 1042.0 831.2 712.9 990.5 1007.0 1247.5 1240.4 1229.8 1256.5 1263.2 1249.3 11

 12 Domestic financial 345.5 122.2 374.8 424.3 408.3 484.7 481.2 441.9 509.6 506.2 503.2 12

 13 Rest of the world 350.9 406.6 352.8 401.6 438.9 430.0 402.9 436.5 428.3 452.4 419.4 13

 Less:

 14 Taxes on corporate income 445.5 309.0 269.4 373.3 379.0 449.3 453.6 443.3 452.4 448.0 434.4 14

 15 Domestic nonfinancial 293.8 227.4 177.8 222.9 246.8 307.6 304.3 304.6 307.9 313.6 311.5 15

 16 Domestic financial 151.7 81.6 91.6 150.4 132.2 141.7 149.3 138.8 144.5 134.4 122.9 16

 Equals:

 17 Profits after tax 1292.9 1050.9 1171.1 1443.0 1475.1 1712.9 1670.9 1664.9 1742.0 1773.7 1737.6 17

 18 Net dividends 794.5 786.9 554.1 600.9 697.2 779.9 727.1 747.5 760.3 884.6 782.9 18

 19 Domestic nonfinancial 484.6 474.1 351.7 385.7 425.3 467.5 432.8 454.9 455.7 526.6 483.0 19

 20 Domestic financial 165.2 132.2 90.5 95.3 128.7 176.3 149.1 167.4 162.6 226.1 155.0 20

 21 Rest of the world 144.8 180.5 111.9 119.9 143.2 136.1 145.2 125.2 142.0 131.8 144.9 21

 22 Undistributed profits 498.4 264.0 617.0 842.1 777.9 933.0 943.7 917.4 981.6 889.2 954.7 22

 23 Domestic nonfinancial 263.6 129.6 183.4 381.9 334.8 472.4 503.3 470.4 492.9 422.9 454.8 23

 24 Domestic financial 28.7 -91.7 192.7 178.5 147.3 166.7 182.8 135.7 202.4 145.7 225.4 24

 25 Rest of the world 206.1 226.1 240.9 281.7 295.7 294.0 257.6 311.3 286.3 320.6 274.5 25

 26 Inventory valuation adjustment -47.2 -44.5 3.2 -38.7 -62.6 -10.9 -23.7 16.0 -26.8 -9.2 -16.1 26

 27 Capital consumption adjustment -180.5 -67.1 -101.3 -75.2 35.4 -200.6 -200.7 -202.4 -200.0 -199.5 -186.6 27

 28 Domestic nonfinancial -158.8 -31.7 -55.4 -34.7 62.7 -148.2 -148.4 -149.7 -147.7 -147.1 -135.2 28

 29 Domestic financial -21.7 -35.4 -45.9 -40.5 -27.3 -52.4 -52.3 -52.7 -52.3 -52.3 -51.4 29

 30 Net interest and miscellaneous payments 731.6 870.1 640.5 567.9 527.4 504.3 515.6 489.5 518.2 493.8 541.5 30

 31 Taxes on production and imports 1027.2 1038.6 1023.2 1055.0 1097.9 1130.0 1128.5 1130.9 1128.4 1132.2 1144.9 31

 32 Less: Subsidies 54.6 52.9 59.7 57.0 61.6 60.8 60.8 61.0 60.6 60.9 60.9 32

 33 Business current transfer payments (net) 103.3 123.0 133.4 140.0 132.6 128.0 130.5 127.9 123.8 129.7 147.2 33

 34 Current surplus of government enterprises -11.8 -16.0 -15.6 -19.5 -26.5 -34.0 -32.0 -34.1 -35.5 -34.5 -39.8 34

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 35 National Income, from line 1 above 12396.4 12609.1 12132.6 12811.4 13358.9 13875.9 13707.2 13750.5 13895.9 14150.0 14236.2 35

 Plus:

 36 Private consumption of fixed capital 1476.2 1542.9 1542.8 1539.9 1587.4 1647.8 1625.9 1642.0 1654.2 1669.0 1690.5 36

 37 Government consumption of fixed capital 291.3 311.2 323.5 333.5 349.4 363.9 359.0 362.8 365.6 368.4 371.7 37

 38 Statistical discrepancy -12.0 -2.4 118.3 23.3 31.9 40.2 1.1 77.7 138.5 -56.6 -61.5 38

 Less:

 39 Net U.S. income receipts from rest of the world 123.3 169.2 143.5 209.3 251.9 243.0 214.9 247.3 243.1 266.6 232.2 39

 Equals:

 40 Gross Domestic Product 14028.7 14291.5 13973.7 14498.9 15075.7 15684.8 15478.3 15585.6 15811.0 15864.1 16004.5 40

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 2047.7 1908.2 1555.8 1770.7 1837.5 2020.4 1945.6 1952.4 1982.5 2201.0 2195.7 1

 2 Net saving 280.2 54.1 -310.5 -102.8 -99.3 8.7 -39.3 -52.3 -37.3 163.6 133.6 2

 3 Net private saving 513.2 739.8 1032.0 1294.9 1240.1 1211.9 1147.1 1186.7 1189.9 1324.0 1032.1 3

 4 Domestic business 270.7 152.5 518.8 728.2 750.7 721.4 719.4 731.0 754.8 680.5 751.9 4

 5 Nonfinancial corporate business 226.3 237.5 324.3 533.1 572.5 560.4 551.6 564.8 560.3 565.1 569.4 5

 6 Financial business 44.3 -85.0 194.5 195.1 178.2 161.0 167.8 166.3 194.5 115.4 182.5 6

 7 Households and institutions 242.5 587.3 513.2 566.7 489.4 490.5 427.7 455.7 435.1 643.5 280.2 7

 8 Net government saving -233.0 -685.7 -1342.6 -1397.7 -1339.4 -1203.2 -1186.4 -1239.0 -1227.2 -1160.4 -898.5 8

 9 Federal -245.2 -613.5 -1229.3 -1308.0 -1237.4 -1074.3 -1058.7 -1115.4 -1087.2 -1035.8 -782.3 9

 10 State and local 12.2 -72.2 -113.2 -89.7 -102.0 -129.0 -127.6 -123.7 -140.0 -124.5 -116.2 10

 11 Consumption of fixed capital 1767.5 1854.1 1866.3 1873.4 1936.8 2011.7 1984.9 2004.8 2019.8 2037.4 2062.1 11

 12 Private 1476.2 1542.9 1542.8 1539.9 1587.4 1647.8 1625.9 1642.0 1654.2 1669.0 1690.5 12

 13 Domestic business 1190.7 1248.3 1250.0 1245.0 1285.7 1339.0 1321.3 1335.1 1344.0 1355.6 1372.1 13

 14 Nonfinancial corporate business 840.1 864.3 862.5 860.1 893.7 933.5 920.8 930.8 937.1 945.5 956.6 14

 15 Nonfinancial noncorporate business 210.1 211.3 211.0 209.9 215.0 222.4 219.8 221.7 223.3 225.0 227.5 15

 16 Financial business 140.6 172.7 176.6 175.0 177.0 183.0 180.8 182.6 183.6 185.2 187.9 16

 17 Households and institutions 285.5 294.6 292.7 294.9 301.7 308.8 304.6 306.9 310.2 313.4 318.4 17

 18 Government 291.3 311.2 323.5 333.5 349.4 363.9 359.0 362.8 365.6 368.4 371.7 18

 19 Federal 112.6 120.0 124.8 130.2 137.0 141.5 139.7 141.0 142.0 143.3 144.9 19

 20 State and local 178.7 191.2 198.8 203.3 212.4 222.4 219.2 221.7 223.6 225.1 226.8 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 2035.7 1905.8 1674.1 1794.0 1869.4 2060.5 1946.7 2030.1 2121.0 2144.4 2134.2 21

 22 Gross domestic investment 2751.7 2584.8 2056.2 2242.9 2335.1 2534.6 2499.9 2515.1 2554.7 2568.8 2607.7 22

 23 Gross private domestic investment 2295.2 2087.6 1549.3 1737.3 1854.9 2062.3 2032.2 2041.7 2080.1 2095.1 2151.1 23

 24 Domestic business 1633.3 1558.4 1129.8 1338.5 1456.5 1628.8 1615.0 1616.0 1643.5 1640.6 1679.7 24

 25 Nonfinancial corporate business 1162.2 1096.2 762.0 982.4 1064.3 1205.5 1188.8 1195.4 1230.5 1207.5 1209.2 25

 26 Nonfinancial noncorporate business 283.7 267.2 203.4 201.3 219.3 231.6 238.7 232.1 222.7 233.1 266.0 26

 27 Financial business 187.5 195.0 164.4 154.8 172.9 191.6 187.6 188.6 190.2 200.0 204.5 27

 28 Households and institutions 661.9 529.2 419.4 398.8 398.4 433.5 417.2 425.7 436.7 454.5 471.4 28

 29 Gross government investment 456.5 497.2 506.9 505.5 480.2 472.3 467.6 473.4 474.5 473.7 456.5 29

 30 Federal 127.4 148.4 156.6 167.3 160.5 154.6 152.1 155.9 155.1 155.4 145.8 30

 31 State and local 329.0 348.8 350.3 338.2 319.7 317.7 315.5 317.5 319.5 318.3 310.8 31

 32 Capital account transactions (net) (2) -0.1 -5.4 0.6 0.7 1.7 -6.7 0.5 0.5 0.5 -28.3 0.5 32

 33 Private -10.0 -71.0 -141.8 -80.7 -70.4 -44.9 -43.6 -22.3 -26.2 -87.8 -28.1 33

 34 Domestic business -1.7 -51.2 -85.3 -30.6 -41.7 -13.8 -25.8 -8.7 -12.2 -8.4 -12.3 34

 35 Nonfinancial corporate business -1.7 12.6 42.6 18.6 -7.8 -16.0 -6.6 -8.3 -11.9 -37.2 -12.0 35

 36 Nonfinancial noncorporate business 0.0 -3.3 -6.0 -7.8 -1.6 -5.8 -0.3 -0.3 -0.3 -22.2 -0.3 36

 37 Financial business 0.0 -60.5 -121.9 -41.5 -32.4 8.0 -18.9 -0.1 0.0 51.0 0.0 37

 38 Households and institutions -8.3 -19.8 -56.6 -50.1 -28.7 -31.2 -17.8 -13.6 -14.0 -79.4 -15.7 38

 39 Government 10.0 65.6 142.4 81.4 72.1 38.2 44.0 22.7 26.6 59.4 28.5 39

 40 Federal 55.0 114.3 196.2 145.4 133.1 98.0 101.4 82.1 87.4 121.0 83.3 40

 41 State and local -45.1 -48.7 -53.8 -64.0 -61.0 -59.8 -57.4 -59.4 -60.8 -61.6 -54.8 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -715.9 -673.6 -382.7 -449.5 -467.5 -467.3 -553.6 -485.4 -434.2 -396.1 -473.9 42

 43 Private -307.8 263.7 1285.6 1201.5 1074.8 882.5 785.5 887.0 928.6 929.1 538.0 43

 44 Domestic business -182.2 -108.8 842.6 688.6 653.5 485.6 452.6 536.4 606.0 347.3 395.2 44

 45 Nonfinancial corporate business (3) -106.0 -9.5 500.4 415.4 441.5 344.6 291.3 386.1 417.3 283.6 267.4 45

 46 Nonfinancial noncorporate business -73.6 -52.6 13.6 16.4 -2.7 -3.4 -18.6 -10.1 0.9 14.1 -38.1 46

 47 Financial business -2.6 -46.7 328.6 256.8 214.7 144.4 179.9 160.4 187.9 49.6 165.9 47

 48 Households and institutions -125.7 372.6 443.0 512.9 421.3 396.9 332.9 350.5 322.6 581.8 142.9 48

 49 Government -408.1 -937.3 -1668.3 -1651.0 -1542.3 -1349.9 -1339.1 -1372.4 -1362.7 -1325.2 -1011.9 49

 50 Federal -315.0 -756.2 -1457.4 -1490.5 -1394.1 -1185.4 -1172.5 -1212.4 -1187.7 -1168.9 -866.5 50

 51 State and local -93.1 -181.1 -210.9 -160.5 -148.2 -164.5 -166.6 -160.0 -175.1 -156.2 -145.3 51

 52 Statistical discrepancy (line 21 less line 1) -12.0 -2.4 118.3 23.3 31.9 40.2 1.1 77.7 138.5 -56.6 -61.5 52

 Addenda:

 53 Disaster losses 0.0 19.1 0.0 0.0 0.0 44.9 0.0 0.0 0.0 179.8 0.0 53

 54 Private 0.0 19.1 0.0 0.0 0.0 35.8 0.0 0.0 0.0 143.4 0.0 54

 55 Domestic business 0.0 10.8 0.0 0.0 0.0 15.5 0.0 0.0 0.0 62.0 0.0 55

 56 Households and institutions 0.0 8.3 0.0 0.0 0.0 20.3 0.0 0.0 0.0 81.3 0.0 56

 57 Government 0.0 0.0 0.0 0.0 0.0 9.1 0.0 0.0 0.0 36.4 0.0 57

 58 Federal 0.0 0.0 0.0 0.0 0.0 0.3 0.0 0.0 0.0 1.3 0.0 58

 59 State and local 0.0 0.0 0.0 0.0 0.0 8.8 0.0 0.0 0.0 35.1 0.0 59

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Capital transfers paid, by sector 114.5 209.6 289.3 205.8 157.3 163.5 144.4 132.4 133.4 243.8 122.5 1

 2 By private business 0.0 7.6 40.4 25.8 0.0 13.4 0.0 0.0 0.0 53.7 0.0 2

 3 Financial corporations 0.0 7.6 0.0 0.0 0.0 13.4 0.0 0.0 0.0 53.7 0.0 3

 4 Disaster-related insurance benefits 0.0 7.6 0.0 0.0 0.0 13.4 0.0 0.0 0.0 53.7 0.0 4

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

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

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

 8 By government 82.8 161.8 223.9 160.2 142.8 117.7 120.8 104.9 107.0 137.8 99.4 8

 9 Federal 82.8 161.8 223.9 160.2 142.8 117.7 120.8 104.9 107.0 137.8 99.4 9

 10 Investment grants to state and local govts. 53.7 57.1 62.0 70.7 67.6 64.5 63.9 65.6 66.8 61.5 59.9 10

 11 Disaster-related insurance benefits 0.0 2.8 0.0 0.0 0.0 7.5 0.0 0.0 0.0 30.0 0.0 11

 12 Financial stabilization payments 0.0 67.7 121.9 41.5 32.4 4.7 18.9 0.1 0.0 0.0 0.0 12

 13 Other capital transfers paid to business 0.0 0.1 8.1 12.3 7.3 7.4 5.3 6.7 8.2 9.3 8.7 13

 14 Other capital transfers paid to persons 28.7 33.3 31.3 35.0 33.9 33.1 32.3 32.1 31.5 36.6 30.3 14

 15 Capital transfers paid to the rest of the world (net) 0.4 0.8 0.6 0.7 1.6 0.5 0.5 0.5 0.5 0.4 0.5 15

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

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

 18 By persons 31.7 34.0 25.0 19.8 14.5 25.2 23.6 27.5 26.3 23.5 23.1 18

 19 Estate and gift taxes, federal 26.5 28.3 20.6 15.1 9.6 20.4 18.9 22.6 21.5 18.4 17.7 19

 20 Estate and gift taxes, state and local 5.3 5.8 4.4 4.7 4.9 4.8 4.7 4.8 4.8 5.1 5.3 20

 21 By the rest of the world 0.0 6.2 0.0 0.0 0.0 7.2 0.0 0.0 0.0 28.8 0.0 21

 22 Disaster-related insurance benefits 0.0 6.2 0.0 0.0 0.0 7.2 0.0 0.0 0.0 28.8 0.0 22

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

 24 Capital transfers received, by sector 114.5 209.6 289.3 205.8 157.3 163.5 144.4 132.4 133.4 243.8 122.5 24

 25 By private business 0.0 75.0 130.0 53.8 39.7 24.4 24.1 6.8 8.2 58.5 8.7 25

 26 Financial corporations 0.0 68.1 121.9 41.5 32.4 5.4 18.9 0.1 0.0 2.7 0.0 26

 27 Disaster-related insurance benefits 0.0 0.4 0.0 0.0 0.0 0.7 0.0 0.0 0.0 2.7 0.0 27

 28 Other 0.0 67.7 121.9 41.5 32.4 4.7 18.9 0.1 0.0 0.0 0.0 28

 29 Nonfinancial corporations 0.0 3.7 2.1 4.6 5.7 13.2 5.0 6.4 7.9 33.6 8.4 29

 30 Disaster-related insurance benefits 0.0 3.6 0.0 0.0 0.0 6.1 0.0 0.0 0.0 24.6 0.0 30

 31 Other 0.0 0.1 2.1 4.6 5.7 7.1 5.0 6.4 7.9 9.0 8.4 31

 32 Noncorporate business 0.0 3.3 6.0 7.8 1.6 5.8 0.3 0.3 0.3 22.2 0.3 32

 33 Disaster-related insurance benefits 0.0 3.3 0.0 0.0 0.0 5.5 0.0 0.0 0.0 21.9 0.0 33

 34 Other 0.0 0.0 6.0 7.8 1.6 0.3 0.3 0.3 0.3 0.3 0.3 34

 35 By government 85.4 91.1 87.1 90.7 82.1 91.1 87.5 93.0 93.2 90.6 83.0 35

 36 Federal 26.5 28.3 20.6 15.1 9.6 20.4 18.9 22.6 21.5 18.4 17.7 36

 37 Estate and gift taxes paid by persons 26.5 28.3 20.6 15.1 9.6 20.4 18.9 22.6 21.5 18.4 17.7 37

 38 State and local 58.9 62.8 66.5 75.6 72.5 70.7 68.5 70.4 71.6 72.2 65.2 38

 39 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 1.4 0.0 0.0 0.0 5.7 0.0 39

 40 Estate and gift taxes paid by persons 5.3 5.8 4.4 4.7 4.9 4.8 4.7 4.8 4.8 5.1 5.3 40

 41 Investment grants paid by federal government 53.7 57.1 62.0 70.7 67.6 64.5 63.9 65.6 66.8 61.5 59.9 41

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

 43 By persons 28.7 42.6 71.7 60.7 33.9 47.5 32.3 32.1 31.5 94.2 30.3 43

 44 Disaster-related insurance benefits 0.0 9.3 0.0 0.0 0.0 14.4 0.0 0.0 0.0 57.6 0.0 44

 45 Other 28.7 33.3 71.7 60.7 33.9 33.1 32.3 32.1 31.5 36.6 30.3 45

 46 By the rest of the world 0.4 0.8 0.6 0.7 1.6 0.5 0.5 0.5 0.5 0.4 0.5 46

 47 Capital transfers paid by U.S. government 0.4 0.8 0.6 0.7 1.6 0.5 0.5 0.5 0.5 0.4 0.5 47

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

 Addenda: Net capital transfers paid by sector

 49 By private business (lines 2-25) -0.0 -67.5 -89.6 -28.0 -39.7 -11.0 -24.1 -6.8 -8.2 -4.8 -8.7 49

 50 Financial corporations (lines 3-26) 0.0 -60.5 -121.9 -41.5 -32.4 8.0 -18.9 -0.1 0.0 51.0 0.0 50

 51 Property-casualty insurance companies (line 4) 0.0 7.6 0.0 0.0 0.0 13.4 0.0 0.0 0.0 53.7 0.0 51

 52 U.S.-chartered depository institutions 0.0 -29.7 -18.2 2.4 3.2 -0.7 0.0 0.0 0.0 -2.7 0.0 52

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

 54 Other (lines 5-27) 0.0 -0.4 0.0 0.0 0.0 -0.7 0.0 0.0 0.0 -2.7 0.0 54

 55 Government-sponsored enterprises (2) 0.0 -6.9 -87.1 -40.2 -31.9 -4.7 -18.9 -0.1 0.0 0.0 0.0 55

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

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

 58 Nonfinancial corporations (lines 6-29) -0.0 -3.7 38.3 21.2 -5.7 -13.2 -5.0 -6.4 -7.9 -33.6 -8.4 58

 59 Noncorporate business (lines 7-32) 0.0 -3.3 -6.0 -7.8 -1.6 -5.8 -0.3 -0.3 -0.3 -22.2 -0.3 59

 60 By government (lines 8-35) -2.6 70.6 136.8 69.6 60.7 26.6 33.3 11.9 13.9 47.2 16.4 60

 61 Federal (lines 9-36) 56.3 133.5 203.3 145.2 133.2 97.3 101.9 82.3 85.5 119.4 81.7 61

 62 State and local (lines 16-38) -58.9 -62.8 -66.5 -75.6 -72.5 -70.7 -68.5 -70.4 -71.6 -72.2 -65.2 62

 63 By persons (lines 18-43) 3.0 -8.6 -46.6 -40.9 -19.4 -22.3 -8.7 -4.6 -5.2 -70.8 -7.3 63

 64 By the rest of the world (lines 21-46) -0.4 5.4 -0.6 -0.7 -1.6 6.7 -0.5 -0.5 -0.5 28.3 -0.5 64

(1) This table is based on NIPA table 5.10 in the Survey of Current Business, Bureau of Economic Analysis (www.bea.gov).

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 1803.7 586.2 195.6 689.3 966.8 1010.7 1177.5 1294.1 -184.4 1755.7 1114.3 1

 2 Foreign deposits 15.4 -23.7 -6.4 1.6 -1.9 -2.5 -7.5 -8.1 9.9 -4.5 10.6 2

 3 Checkable deposits and currency -6.8 248.7 49.0 37.6 323.1 147.2 127.8 -1.3 36.5 425.8 121.9 3

 4 Time and savings deposits 476.9 188.7 172.2 155.6 353.9 412.3 457.2 455.3 45.5 691.2 176.8 4

 5 Money market fund shares 242.0 236.2 -270.3 -180.4 11.5 1.3 -9.0 -5.8 -6.6 26.6 29.3 5

 6 Securities -177.7 -237.1 378.0 155.6 -189.2 179.1 375.0 697.5 -618.8 262.8 739.5 6

 7 Open market paper -10.2 -101.3 28.7 -2.9 -2.6 -0.5 3.0 -3.9 -0.6 -0.6 5.9 7

 8 U.S. savings bonds -6.0 -2.4 -2.8 -3.3 -2.7 -2.8 -1.5 -2.4 -2.2 -4.9 -2.7 8

 9 Treasury bills and other Treasury securities -72.0 246.3 496.8 420.7 -253.7 373.9 265.6 751.5 -134.0 612.6 -130.8 9

 10 Agency- and GSE-backed securities 308.8 276.6 -633.6 -44.7 12.6 -246.5 -268.1 -163.7 -279.1 -275.3 -287.8 10

 11 Municipal securities 37.5 47.5 107.3 44.8 -65.5 -151.2 -123.9 23.6 -243.3 -261.1 -16.7 11

 12 Corporate and foreign bonds 127.7 -81.1 58.7 -323.5 53.1 25.6 -53.9 -127.7 -47.2 331.4 215.3 12

 13 Corporate equities (2) -805.5 -576.8 -21.2 -170.8 -122.8 -321.3 -288.7 77.8 -636.7 -437.4 246.8 13

 14 Mutual fund shares 242.0 -45.8 344.1 235.3 192.5 501.8 842.6 142.3 724.3 298.0 709.6 14

 15 Life insurance reserves 18.0 61.7 23.7 9.0 86.9 -26.3 -46.6 -82.2 0.2 23.5 11.4 15

 16 Pension fund reserves 567.5 53.6 30.2 335.2 263.6 239.4 213.1 181.1 328.5 234.8 63.6 16

 17 Miscellaneous and other assets 668.4 57.9 -180.9 175.1 119.0 60.2 67.4 57.6 20.4 95.3 -38.9 17

 18 Gross investment in nonfinancial assets 2063.9 1826.4 1587.9 1599.8 1680.0 1800.4 1774.1 1776.4 1796.8 1854.1 1917.5 18

 19 Residential fixed investment 622.2 466.8 349.8 336.9 335.0 367.9 350.0 358.2 372.6 390.5 408.1 19

 20 Nonresidential fixed investment 345.3 330.4 281.9 265.5 285.2 310.5 306.5 311.5 308.3 315.7 315.3 20

 21 Consumer durables 1106.8 1041.3 975.1 1008.9 1071.6 1139.3 1125.9 1121.9 1139.3 1170.2 1190.4 21

 22 Nonproduced nonfinancial assets -11.3 -11.2 -9.9 -9.2 -9.3 -8.8 -9.1 -8.9 -8.8 -8.6 -8.4 22

 23 Inventories 0.9 -0.9 -8.9 -2.3 -2.5 -8.5 0.7 -6.3 -14.6 -13.7 12.2 23

 24 Consumption of fixed capital 1346.1 1412.4 1421.1 1420.6 1454.9 1477.4 1458.4 1471.7 1484.5 1495.1 1510.3 24

 25 Residential fixed investment 269.8 272.2 266.2 267.2 271.0 281.3 277.6 280.4 282.4 285.0 288.6 25

 26 Nonresidential fixed investment 202.2 233.7 237.5 237.6 245.7 249.9 246.8 248.3 251.1 253.5 257.4 26

 27 Consumer durables 874.0 906.5 917.4 915.8 938.1 946.2 934.0 943.0 951.0 956.6 964.2 27

 28 Net investment in nonfinancial assets (3) 717.8 414.0 166.8 179.3 225.2 322.9 315.7 304.7 312.3 359.0 407.2 28

 29 Residential fixed investment 352.4 194.7 83.7 69.7 64.0 86.5 72.4 77.9 90.2 105.6 119.5 29

 30 Nonresidential fixed investment 143.0 96.7 44.4 27.9 39.5 60.6 59.7 63.1 57.2 62.2 57.9 30

 31 Consumer durables 232.8 134.8 57.7 93.1 133.4 193.2 192.0 178.9 188.3 213.6 226.2 31

 32 Nonproduced nonfinancial assets -11.3 -11.2 -9.9 -9.2 -9.3 -8.8 -9.1 -8.9 -8.8 -8.6 -8.4 32

 33 Inventories 0.9 -0.9 -8.9 -2.3 -2.5 -8.5 0.7 -6.3 -14.6 -13.7 12.2 33

 34 Net increase in liabilities 1488.3 284.8 -265.1 -295.9 -176.9 179.4 78.8 158.5 -72.1 552.5 27.2 34

 35 Home mortgages 717.1 -108.9 -191.1 -347.2 -252.0 -240.5 -340.9 -215.7 -306.5 -99.0 -226.4 35

 36 Other mortgages 286.4 230.9 22.0 -43.9 -26.3 -17.1 -73.4 -27.7 -22.3 54.9 10.9 36

 37 Consumer credit 141.9 19.6 -111.5 -17.9 93.4 154.6 141.1 168.7 130.7 177.7 157.1 37

 38 Policy loans 3.6 5.9 0.7 3.4 2.4 1.4 -0.2 -1.0 2.5 4.1 -0.1 38

 39 Security credit 33.4 -160.7 38.1 75.2 -39.3 64.9 115.4 -93.1 98.7 138.4 9.9 39

 40 Other liabilities 305.8 298.0 -23.3 34.4 44.8 216.3 236.7 327.3 24.7 276.5 75.8 40

 41 Net capital transfers paid (4) 3.0 -11.9 -52.6 -48.7 -21.0 -28.1 -9.1 -5.0 -5.5 -92.9 -7.6 41

 42 Personal saving, FOF concept (FOF) 1036.3 703.5 575.0 1115.8 1347.9 1126.1 1405.4 1435.3 194.5 1469.2 1486.7 42

 43 - Net investment in consumer durables 232.8 134.8 57.7 93.1 133.4 193.2 192.0 178.9 188.3 213.6 226.2 43

 44 - Government insurance and pension fund reserves (5) 0.1 -0.6 0.5 -1.7 -0.4 -1.4 -2.7 -0.1 -1.3 -1.7 -2.2 44

 45 = Personal saving, NIPA concept (FOF) (6) 803.4 569.4 516.8 1024.4 1214.9 934.4 1216.1 1256.5 7.5 1257.3 1262.8 45

 46 Personal saving, NIPA concept (NIPA) 248.7 592.3 508.2 566.7 489.4 490.5 427.7 455.7 435.1 643.5 280.2 46

 47 Difference 554.6 -22.9 8.6 457.7 725.5 443.9 788.4 800.9 -427.6 613.8 982.6 47

 Memo:

 48 Disposable personal income 10423.6 11024.5 10722.4 11127.1 11549.3 11950.8 11776.4 11861.8 11929.7 12235.2 11998.1 48

 Personal saving as a percentage of disposable personal income:

 49 FOF concept (FOF data) (line 42) 9.9 6.4 5.4 10.0 11.7 9.4 11.9 12.1 1.6 12.0 12.4 49

 50 NIPA concept (FOF data) (line 45) 7.7 5.2 4.8 9.2 10.5 7.8 10.3 10.6 0.1 10.3 10.5 50

 51 NIPA concept (NIPA data) (line 46) 2.4 5.4 4.7 5.1 4.2 4.1 3.6 3.8 3.6 5.3 2.3 51

 52 Difference (line 47) 5.3 -0.2 0.1 4.1 6.3 3.7 6.7 6.8 -3.6 5.0 8.2 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 14) and life insurance and pension reserves (lines 15 and 16)).

(3) Line 18 less line 24.

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

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

(6) Line 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 44) plus

 net investment in nonfinancial assets net of consumer durables (line 28 less line 43) less net increase in liabilities (line 34) plus net capital transfers paid (line 41). Line 46 is disposable personal income (line 48) less

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

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

2007 2008 2009 2010 2011 2012 2012 2013

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 47176.4 39407.8 43448.3 46978.3 47390.3 51260.8 49772.6 49087.7 50345.4 51260.8 53317.1 1

 2 Foreign deposits 80.5 56.9 50.5 52.1 50.1 47.6 48.3 46.2 48.7 47.6 50.2 2

 3 Checkable deposits and currency 670.6 884.3 933.3 959.6 1282.8 1419.9 1270.4 1263.7 1259.2 1419.9 1412.5 3

 4 Time and savings deposits 6272.0 6460.7 6618.5 6740.2 7094.2 7461.3 7205.0 7265.4 7292.4 7461.3 7528.8 4

 5 Money market fund shares 1421.0 1657.2 1386.9 1206.5 1187.5 1188.8 1130.0 1102.2 1123.5 1188.8 1138.7 5

 6 Securities 20119.7 14388.3 17220.5 19327.1 18672.3 20987.6 20321.8 19800.9 20538.1 20987.6 22459.2 6

 7 Open market paper 107.3 6.0 34.6 31.7 29.1 28.6 29.8 28.9 28.7 28.6 30.0 7

 8 U.S. savings bonds 196.4 194.0 191.2 187.9 185.2 182.4 184.7 184.3 183.6 182.4 181.7 8

 9 Treasury bills and other Treasury securities 45.9 127.3 760.9 1125.4 679.2 1064.6 871.1 916.6 946.9 1064.6 1096.9 9

 10 Agency- and GSE-backed securities 874.3 1097.8 435.7 389.9 372.8 96.9 273.2 237.6 176.0 96.9 10.3 10

 11 Municipal securities 1679.3 1726.9 1834.2 1879.0 1813.4 1662.2 1787.0 1780.2 1714.8 1662.2 1663.5 11

 12 Corporate and foreign bonds 1899.3 1968.1 2314.9 2251.6 2273.3 2402.0 2244.4 2226.0 2331.1 2402.0 2454.6 12

 13 Corporate equities (2) 10448.0 5954.4 7518.3 8843.9 8866.3 10178.4 9892.2 9534.3 9960.5 10178.4 11242.8 13

 14 Mutual fund shares 4869.1 3313.9 4130.7 4617.8 4453.0 5372.4 5039.4 4893.1 5196.5 5372.4 5779.3 14

 15 Life insurance reserves 1076.8 1049.8 1109.2 1137.2 1203.6 1186.1 1199.4 1172.6 1180.6 1186.1 1202.4 15

 16 Pension fund reserves 13236.1 10567.7 11959.2 13209.9 13434.1 14444.1 14117.1 13943.1 14402.2 14444.1 15007.6 16

 17 Life insurance companies 2511.6 2223.2 2346.9 2563.0 2594.2 2830.9 2731.4 2681.9 2770.3 2830.9 2946.6 17

 18 Private pension funds 6142.4 4603.4 5479.2 6179.7 6338.9 6672.5 6613.3 6543.5 6756.6 6672.5 6857.2 18

 19 Governments 4582.1 3741.1 4133.1 4467.2 4501.0 4940.7 4772.5 4717.8 4875.4 4940.7 5203.9 19

 20 Miscellaneous and other assets 4299.6 4342.9 4170.3 4345.7 4465.7 4525.4 4480.4 4493.7 4500.6 4525.4 4517.7 20

 21 Total liabilities 19602.2 19892.2 19584.4 19290.5 19119.0 19225.1 19096.8 19125.8 19066.6 19225.1 19187.4 21

 22 Home mortgages 11165.2 11064.0 10872.9 10412.8 10160.8 9915.3 10074.9 10016.3 9926.8 9915.3 9858.6 22

 23 Other mortgages 2301.9 2529.9 2551.8 2506.8 2478.6 2458.7 2459.6 2452.0 2445.7 2458.7 2460.7 23

 24 Consumer credit 2506.3 2525.9 2420.2 2522.2 2615.7 2768.2 2605.9 2646.6 2705.5 2768.2 2762.4 24

 25 Policy loans 114.5 120.4 121.1 124.5 126.9 128.3 126.9 126.6 127.2 128.3 128.2 25

 26 Security credit 325.5 164.8 203.0 278.2 238.9 303.7 267.7 244.5 269.1 303.7 306.2 26

 27 Other liabilities 3188.9 3487.1 3415.5 3446.0 3498.2 3650.9 3561.9 3639.9 3592.1 3650.9 3671.2 27

(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 funds (line 14) and life insurance and pension reserves (lines 15, 16, 17, and 18).