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F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid 2696.9 2879.8 3167.2 3636.4 3920.6 4086.1 3907.1 4066.6 4182.6 4188.2 4252.0 1

 2 Gross investment 2786.3 2948.1 2993.8 3222.8 4119.9 4189.0 3853.2 4462.2 3395.4 5045.0 4702.1 2

 3 Capital expenditures 3328.4 3590.9 3761.1 4022.2 4207.0 4448.5 4277.5 4427.0 4520.4 4569.0 4547.1 3

 4 Consumer durables 970.8 1005.0 1057.2 1119.1 1178.9 1229.1 1191.2 1225.3 1245.9 1254.2 1249.5 4

 5 Fixed residential investment 399.3 387.0 388.0 443.3 511.8 558.5 549.9 539.3 567.8 576.9 579.7 5

 6 Fixed nonresidential investment 2105.9 2137.4 2274.0 2394.9 2442.2 2578.9 2496.2 2562.3 2612.4 2644.7 2612.3 6

 7 Inventory change -147.6 61.5 41.8 64.9 74.1 82.0 40.1 100.3 94.5 93.3 105.8 7

 8 Nonproduced nonfinancial assets 0.0 0.0 0.0 0.1 -0.0 -0.1 0.1 -0.1 -0.1 -0.1 -0.1 8

 9 Net lending (+) or net borrowing (-) -542.2 -642.8 -767.3 -799.4 -87.1 -259.5 -424.3 35.3 -1125.0 476.0 155.0 9

 10 Net acqisition of financial assets 1115.1 1942.0 1774.7 2378.2 2448.0 2566.3 1790.0 3123.1 1897.6 3454.3 2734.3 10

 11 U.S. official reserve assets 51.9 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -9.9 11

 12 Foreign deposits -0.3 13.6 -15.7 -7.1 45.5 -11.4 -46.4 37.2 20.6 -57.1 -1.8 12

 13 Checkable deposits and currency 31.9 270.3 114.8 188.2 286.0 289.6 168.2 377.3 124.6 488.3 -233.2 13

 14 Time and savings deposits 288.4 219.9 404.8 477.3 280.5 454.4 614.5 227.5 109.5 866.2 793.1 14

 15 Money market fund shares -330.5 -323.5 -52.0 65.5 70.2 -10.9 -1.8 -2.6 -0.9 -38.5 -47.5 15

 16 Security repurchase agreements -3.3 3.6 -4.4 1.6 1.7 15.0 20.8 24.2 2.8 12.2 24.4 16

 17 Credit market instruments 352.6 71.3 -265.6 -121.7 -512.9 -300.5 -769.1 -172.7 -168.8 -91.3 -377.3 17

 18 Open market paper -23.4 24.0 -14.1 -16.3 -34.0 -11.7 -5.6 -20.9 -5.5 -14.7 7.5 18

 19 Treasury securities 523.1 333.5 -254.5 261.2 -203.3 -107.8 -316.1 -326.0 55.4 155.4 -99.6 19

 20 Agency- and GSE-backed securities -514.5 -30.1 -145.4 -161.7 -104.3 -102.2 -408.3 36.1 -99.6 63.2 -59.7 20

 21 Municipal securities 109.2 42.4 -66.9 -143.5 -56.2 -73.4 -69.8 -28.2 -172.8 -22.6 23.2 21

 22 Corporate and foreign bonds 101.9 -413.5 89.2 -175.4 -227.4 -121.6 -121.9 52.2 -44.6 -372.3 -412.2 22

 23 Other loans and advances 60.9 3.0 2.0 -0.0 12.2 0.8 10.1 -14.1 2.8 4.4 0.0 23

 24 Mortgages 15.3 0.6 -2.4 -10.7 -2.5 11.4 11.9 19.7 -0.2 14.0 39.3 24

 25 Consumer credit 80.1 111.3 126.5 124.8 102.6 104.0 130.5 108.4 95.8 81.4 124.2 25

 26 Corporate equities -19.4 -159.5 -257.4 -206.3 -35.3 32.3 -413.3 324.1 -168.7 387.3 383.3 26

 27 Mutual fund shares 412.6 262.1 316.1 580.3 612.1 538.1 638.7 517.0 508.5 488.2 483.2 27

 28 Trade receivables -83.2 155.1 155.1 64.8 306.4 145.4 71.4 205.5 136.4 168.3 163.7 28

 29 Security credit -35.7 23.5 0.9 42.0 58.5 53.5 202.8 1.6 103.6 -94.0 6.3 29

 30 Life insurance reserves 24.6 6.2 73.5 -26.6 19.2 45.3 31.3 41.4 46.4 62.2 77.7 30

 31 Pension entitlements 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 31

 32 Taxes payable 30.1 28.1 28.1 36.5 31.4 59.4 54.0 116.5 28.0 39.3 175.9 32

 33 Equity in noncorpate business -107.6 167.2 161.0 133.5 75.6 50.6 73.9 31.5 63.0 33.9 16.9 33

 34 U.S. direct investment abroad 269.7 303.3 403.9 315.9 317.4 330.3 160.8 324.9 340.0 495.4 388.9 34

 35 Miscellaneous assets -164.9 302.7 197.2 332.5 396.2 330.3 471.4 513.5 217.7 118.6 372.1 35

 36 Net increase in liabilities 1657.3 2584.7 2542.0 3177.6 2535.1 2825.8 2214.3 3087.9 3022.6 2978.2 2579.3 36

 37 U.S. official reserve assets 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Treasury currency -0.4 -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 39

 40 Credit market instruments 1102.4 1405.4 1281.8 1823.0 1470.3 1723.0 1680.0 1399.4 1798.6 2013.9 1172.6 40

 41 Open market paper -73.1 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -70.6 41

 42 Treasury securities 1443.7 1579.6 1066.8 1140.6 759.5 667.2 743.0 314.3 913.8 697.9 -52.8 42

 43 Agency- and GSE-backed securities 0.1 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 43

 44 Municipal securities 155.3 99.7 -52.8 -4.9 -43.2 -18.8 -38.0 15.7 -88.5 35.5 170.0 44

 45 Corporate and foreign bonds 215.6 179.3 162.0 323.5 279.8 264.9 286.7 235.4 198.4 339.1 449.7 45

 46 Depository institution loans n.e.c. -307.7 -53.7 70.7 276.9 126.1 277.2 255.1 397.3 180.2 276.3 352.1 46

 47 Other loans and advances -164.8 -82.4 63.6 -22.7 62.4 75.9 147.8 -51.9 84.5 123.1 7.3 47

 48 Mortgages -63.3 -316.9 -171.6 -73.4 96.0 200.4 18.4 172.9 266.1 344.1 131.1 48

 49 Consumer credit -103.6 -25.3 108.6 169.4 175.9 218.4 194.0 257.8 222.8 199.0 186.8 49

 50 Corporate equities -51.2 -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -541.7 50

 51 Trade payables -41.6 200.9 128.4 138.4 182.1 170.8 108.0 237.2 154.3 183.6 155.7 51

 52 Security credit 38.1 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 52

 53 Life insurance reserves 1.1 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 53

 54 Taxes payable -9.5 6.4 9.4 9.9 -5.5 6.8 -15.8 14.8 23.5 4.9 70.1 54

 55 Equity in noncorpate business -108.2 166.4 163.8 126.8 79.5 48.3 70.9 33.2 56.3 32.8 16.2 55

 56 Foreign direct investment in U.S. 104.8 157.4 192.7 170.7 207.6 80.7 -445.4 260.5 329.6 178.2 313.7 56

 57 Miscellaneous liabilities 571.0 823.2 1258.5 1188.5 918.7 1152.8 1392.9 1196.1 1035.0 987.3 1455.6 57

 58 Discrepancy -89.4 -68.3 173.4 413.6 -199.3 -102.8 53.9 -395.7 787.2 -856.8 -450.2 58

(1) Sum of domestic nonfinancial sectors shown on tables F.101 through F.107.
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F.101 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Personal income 12087.5 12429.3 13202.0 13887.7 14166.9 14733.9 14484.7 14660.5 14811.2 14979.3 15129.2 1

 2 - Personal current taxes 1144.9 1191.5 1400.6 1503.7 1661.8 1743.9 1711.8 1715.3 1750.1 1798.6 1843.8 2

 3 = Disposable personal income 10942.5 11237.9 11801.4 12384.0 12505.1 12990.0 12772.9 12945.2 13061.2 13180.7 13285.4 3

 4 - Personal outlays 10270.5 10609.8 11090.2 11487.8 11897.1 12357.4 12146.9 12289.6 12433.0 12560.3 12559.0 4

 5 = Personal saving, NIPA (2) 672.0 628.0 711.1 896.2 608.1 632.6 626.1 655.6 628.1 620.4 726.4 5

 6 + Government insurance and pension reserves (3) -1.2 -3.2 -2.4 -2.5 -2.2 -2.0 -2.9 -1.0 -2.7 -1.5 -2.5 6

 7 - Contr. for govt. soc. insur., U.S.-affiliated areas 5.0 4.9 4.4 4.6 5.4 5.6 5.6 5.6 5.6 5.7 5.8 7

 8 + Net investment in consumer durables 50.3 86.9 119.0 158.4 194.3 254.3 226.6 255.7 267.6 267.2 257.0 8

 9 + Consumption of fixed capital 1319.5 1314.0 1336.5 1365.2 1411.7 1429.0 1412.3 1419.8 1435.0 1449.0 1457.9 9

 10 - Net capital transfers paid (4) -28.4 -20.6 2.0 -5.0 19.7 10.4 21.2 20.6 -19.9 19.8 20.1 10

 11 = Gross saving less net capital transfers paid 2064.0 2041.3 2157.8 2417.8 2186.8 2297.8 2235.3 2304.1 2342.2 2309.6 2412.9 11

 12 Gross investment 2028.1 2347.8 2847.9 2708.8 2574.2 2655.6 2539.6 2604.8 2261.5 3216.3 3121.2 12

 13 Capital expenditures 1429.3 1448.9 1501.3 1614.3 1740.4 1811.3 1751.3 1800.6 1838.2 1855.3 1853.7 13

 14 Consumer durable goods 970.8 1005.0 1057.2 1119.1 1178.9 1229.1 1191.2 1225.3 1245.9 1254.2 1249.5 14

 15 Residential 321.0 318.3 321.1 368.0 433.4 452.4 434.8 446.2 460.5 468.1 471.3 15

 16 Nonprofit nonresidential 147.1 134.1 130.8 134.9 136.0 137.1 132.9 136.4 138.9 140.1 139.9 16

 17 Nonproduced nonfinancial assets -9.7 -8.5 -7.8 -7.7 -7.9 -7.3 -7.6 -7.4 -7.2 -7.1 -7.0 17

 18 Net lending (+) or net borrowing (-) 598.8 898.9 1346.6 1094.5 833.7 844.3 788.4 804.3 423.3 1361.1 1267.5 18

 19 Net acquisition of financial assets 674.8 793.3 1276.5 1363.4 1076.2 1265.4 1020.8 1516.6 871.7 1652.2 1504.7 19

 20 Foreign deposits -7.2 4.5 -9.9 -7.7 2.8 -5.4 -3.9 -4.7 11.5 -24.7 -8.4 20

 21 Checkable deposits and currency 101.0 38.9 305.1 176.9 121.5 113.9 311.5 222.5 -87.1 8.6 231.1 21

 22 Time and savings deposits 105.9 162.8 369.3 412.0 210.6 406.0 498.2 230.0 188.7 707.2 650.2 22

 23 Money market fund shares -267.5 -183.6 -19.4 0.3 25.5 -33.6 112.0 17.8 -59.4 -204.6 -19.6 23

 24 Credit market instruments 70.5 -95.1 -207.9 -244.9 -568.8 -477.1 -932.3 -420.3 -267.5 -288.3 -797.4 24

 25 Open market paper 16.7 -1.5 -1.8 -0.6 -3.8 -0.1 3.5 0.9 -0.6 -4.2 1.4 25

 26 Treasury securities 532.6 317.2 -215.3 215.4 -194.3 -174.7 -351.2 -435.7 25.6 62.6 -309.2 26

 27 Agency- and GSE-backed securities -671.6 -10.2 -11.0 -111.8 -75.4 -89.6 -386.4 31.1 -73.4 70.2 -44.2 27

 28 Municipal securities 107.1 43.6 -65.7 -144.6 -55.2 -66.0 -56.5 -21.4 -161.7 -24.2 13.0 28

 29 Corporate and foreign bonds 97.6 -422.2 91.7 -178.3 -227.8 -131.9 -132.9 35.2 -45.4 -384.7 -443.7 29

 30 Other loans and advances (5) -5.3 -0.6 -2.8 -2.5 5.0 -1.6 3.0 -17.7 3.2 5.0 0.5 30

 31 Mortgages -0.9 -10.9 0.9 -13.8 -10.9 -7.4 -6.9 -8.2 -8.0 -6.6 -8.6 31

 32 Consumer credit (student loans) -5.8 -10.4 -3.9 -8.8 -6.3 -5.7 -4.9 -4.4 -7.3 -6.4 -6.7 32

 33 Corporate equities (6) -17.8 -183.9 -294.2 -194.7 -30.7 28.5 -418.6 316.1 -164.9 381.4 367.0 33

 34 Mutual fund shares 375.6 247.9 329.2 581.1 611.0 520.0 620.4 497.0 492.9 469.5 459.2 34

 35 Security credit -35.7 23.5 0.9 42.0 58.5 53.5 202.8 1.6 103.6 -94.0 6.3 35

 36 Life insurance reserves 24.6 6.2 73.5 -26.6 19.2 45.3 31.3 41.4 46.4 62.2 77.7 36

 37 Pension entitlements (7) 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 37

 38 Equity in noncorporate business -107.6 167.2 161.0 133.5 75.6 50.6 73.9 31.5 63.0 33.9 16.9 38

 39 Miscellaneous assets 34.9 8.3 70.7 -6.1 52.2 15.2 8.8 30.5 5.7 15.7 3.1 39

 40 Net increase in liabilities 75.9 -105.6 -70.1 269.0 242.5 421.1 232.4 712.3 448.3 291.2 237.3 40

 41 Credit market instruments 1.3 -154.0 -31.5 199.5 203.0 386.4 298.6 484.2 389.7 373.1 292.1 41

 42 Home mortgages (8) 66.3 -182.1 -73.1 -65.2 3.4 41.8 -48.5 35.5 81.4 98.9 -28.3 42

 43 Consumer credit -103.6 -25.3 108.6 169.4 175.9 218.4 194.0 257.8 222.8 199.0 186.8 43

 44 Municipal securities 5.9 -2.2 -7.8 -14.5 -13.1 -4.8 -1.0 -2.3 -9.8 -6.0 -0.4 44

 45 Depository institution loans n.e.c. (9) 28.3 50.1 -54.9 110.8 30.0 120.2 152.8 179.2 85.8 63.1 124.1 45

 46 Other loans and advances 0.5 2.4 1.9 1.2 2.0 2.9 -1.1 6.4 1.7 4.6 1.9 46

 47 Commercial mortgages 3.8 3.0 -6.3 -2.3 4.8 7.8 2.5 7.6 7.7 13.5 7.9 47

 48 Security credit 38.1 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 48

 49 Trade payables 41.4 -29.4 1.2 4.0 1.0 3.1 4.0 3.6 1.9 3.0 1.4 49

 50 Deferred and unpaid life insurance premiums -4.9 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 50

 51 Discrepancy 35.8 -306.5 -690.1 -291.0 -387.4 -357.8 -304.4 -300.8 80.7 -906.8 -708.3 51

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary tables (tables F.101.a and L.101.a) show estimates of annual flows and year-end

 outstandings of nonprofit organizations.

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

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

(4) Table F.9, line 63.

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

(6) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 34) and life insurance reserves (line 36), and pension entitlements (line 37).

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

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

(9) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.109, line 21.
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F.102 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Income before taxes 1842.4 2206.6 2311.0 2682.4 2820.4 3093.8 2963.1 3119.8 3143.1 3149.3 3208.4 1

 2 Gross saving less net capital transfers paid 1706.4 1951.3 1995.1 2037.6 2086.2 2058.2 1941.3 2055.2 2128.3 2108.0 2001.5 2

 3 Gross investment 1842.0 1655.2 1197.6 1275.7 1876.9 1733.0 1673.6 1833.6 1557.1 1867.8 1568.5 3

 4 Capital expenditures 1248.7 1480.6 1613.5 1781.7 1863.7 2042.1 1944.4 2028.9 2087.6 2107.6 2101.3 4

 5 Fixed investment 1390.0 1420.1 1572.3 1715.9 1788.3 1958.3 1903.9 1927.9 1987.7 2013.7 1995.6 5

 6 Residential 70.5 58.8 58.4 69.0 71.8 99.2 108.6 86.2 100.4 101.7 101.7 6

 7 Nonresidential 1319.5 1361.4 1513.9 1646.9 1716.5 1859.1 1795.4 1841.7 1887.3 1912.0 1893.9 7

 8 Change in inventories -147.6 61.5 41.8 64.9 74.1 82.0 40.1 100.3 94.5 93.3 105.8 8

 9 Nonproduced nonfinancial assets 6.3 -1.1 -0.5 0.9 1.3 1.8 0.3 0.8 5.4 0.5 -0.1 9

 10 Net lending (+) or net borrowing (-) 593.3 174.7 -415.9 -506.0 13.2 -309.1 -270.8 -195.4 -530.5 -239.8 -532.8 10

 11 Net acquisition of financial assets 182.7 784.7 679.7 808.0 1147.9 911.2 481.4 1266.9 747.5 1148.8 979.4 11

 12 Foreign deposits 6.8 9.1 -5.8 0.6 42.7 -6.0 -42.5 41.9 9.1 -32.4 6.6 12

 13 Checkable deposits and currency 85.6 76.8 50.7 13.8 87.6 99.0 -115.6 257.7 121.0 132.8 8.5 13

 14 Time and savings deposits 172.1 62.8 19.2 43.4 51.8 37.8 82.6 21.6 -105.6 152.4 105.6 14

 15 Money market fund shares -73.1 -154.6 -34.6 60.1 42.0 10.3 -126.7 -39.3 55.3 151.6 -61.1 15

 16 Security repurchase agreements 0.7 4.3 0.4 -2.9 -0.9 4.7 10.1 8.7 -0.2 0.1 -2.6 16

 17 Credit market instruments 3.5 9.2 -11.8 -11.0 -21.7 -11.8 -3.8 -6.2 -14.3 -22.7 39.8 17

 18 Commercial paper -1.3 12.0 -0.1 -8.4 -21.3 -6.6 -4.9 -19.7 4.2 -5.9 3.7 18

 19 Treasury securities 6.8 7.0 -4.2 0.5 4.9 -1.7 -6.8 2.1 -0.2 -2.1 8.9 19

 20 Agency- and GSE-backed securities 4.2 1.7 -1.7 -1.2 -2.9 2.5 5.4 7.7 -0.8 -2.3 1.7 20

 21 Municipal securities 1.1 -2.6 -1.4 0.8 -1.0 -8.2 -14.2 -8.1 -11.2 0.6 7.7 21

 22 Mortgages -5.3 2.6 -6.4 -4.3 2.8 3.6 2.5 3.8 3.2 4.9 4.2 22

 23 Consumer credit -2.0 -11.4 2.0 1.5 -4.2 -1.3 14.2 8.2 -9.6 -18.0 13.6 23

 24 Mutual fund shares 35.3 11.1 -12.8 -1.7 1.0 15.3 15.3 15.3 15.3 15.3 15.3 24

 25 Trade receivables -57.5 142.8 144.7 56.6 294.6 140.4 61.3 194.8 131.1 174.4 146.1 25

 26 U.S. direct investment abroad 269.7 303.3 403.9 315.9 317.4 330.3 160.8 324.9 340.0 495.4 388.9 26

 27 Miscellaneous assets -260.4 319.8 125.7 333.3 333.3 291.2 440.0 447.3 195.8 81.7 332.3 27

 28 Net increase in liabilities -410.6 610.0 1095.7 1313.9 1134.7 1220.3 752.2 1462.3 1278.1 1388.5 1512.3 28

 29 Credit market instruments -455.7 -90.4 298.1 488.6 547.1 683.1 679.1 565.1 579.6 908.7 794.1 29

 30 Commercial paper -73.1 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -70.6 30

 31 Municipal securities 37.2 33.2 8.5 15.2 9.3 -0.1 2.0 -17.2 5.2 9.7 30.6 31

 32 Corporate bonds 215.6 179.3 162.0 323.5 279.8 264.9 286.7 235.4 198.4 339.1 449.7 32

 33 Depository institution loans n.e.c. -336.0 -103.8 125.6 166.1 96.1 157.0 102.3 218.1 94.4 213.2 228.0 33

 34 Other loans and advances -166.1 -85.7 60.8 -24.3 59.9 72.6 148.7 -58.7 82.5 118.1 5.0 34

 35 Mortgages -133.3 -137.9 -92.3 -5.9 87.9 150.7 64.5 129.8 176.9 231.8 151.5 35

 36 Corporate equities -51.2 -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -541.7 36

 37 Trade payables -65.8 186.6 80.0 82.2 121.9 109.4 59.5 159.9 88.0 130.3 119.0 37

 38 Taxes payable -9.5 6.4 9.4 9.9 -5.5 6.8 -15.8 14.8 23.5 4.9 70.1 38

 39 Foreign direct investment in U.S. 104.8 157.4 192.7 170.7 207.6 80.7 -445.4 260.5 329.6 178.2 313.7 39

 40 Miscellaneous liabilities 175.0 434.3 806.2 780.6 537.1 679.4 905.7 701.9 635.3 474.6 741.0 40

 41 Proprietors’ net investment -108.2 166.4 163.8 126.8 79.5 48.3 70.9 33.2 56.3 32.8 16.2 41

 42 Discrepancy -135.6 296.1 797.5 761.9 209.3 325.2 267.7 221.6 571.2 240.2 433.0 42

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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F.103 Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Profits before tax (book) 752.5 1039.2 1008.9 1245.4 1298.8 1514.9 1418.8 1541.6 1556.0 1543.2 1612.7 1

 2 - Taxes on corporate income 177.8 220.6 228.8 271.4 329.3 389.1 366.2 394.8 400.0 395.4 418.1 2

 3 - Net dividends 351.4 375.5 441.0 520.6 536.9 558.6 575.0 554.3 535.0 570.1 592.5 3

 4 + Capital consumption allowance (1) 1049.3 1077.3 1236.1 1115.7 1140.6 1013.4 995.7 1005.3 1019.1 1033.4 844.7 4

 5 = U.S. internal funds, book 1272.6 1520.4 1575.2 1569.2 1573.2 1580.6 1473.4 1597.9 1640.1 1611.1 1446.9 5

 6 + Foreign earnings retained abroad 192.7 218.2 215.1 184.6 222.4 176.8 194.3 170.3 183.7 158.8 190.0 6

 7 + Inventory valuation adjustment (IVA) 6.7 -41.0 -68.3 -9.5 3.3 -0.5 -24.6 -12.7 4.0 31.5 60.9 7

 8 - Net capital transfers paid (2) 38.3 20.9 -6.4 -16.7 -5.7 -6.6 -7.4 -6.6 -4.3 -8.1 -3.0 8

 9 = Total internal funds + IVA 1433.7 1676.7 1728.5 1761.0 1804.6 1763.6 1650.4 1762.2 1832.2 1809.5 1700.8 9

 10 Gross investment 1569.3 1380.6 931.0 999.1 1595.2 1438.3 1382.7 1540.5 1260.9 1569.3 1267.8 10

 11 Capital expenditures 1020.8 1235.4 1331.9 1478.0 1525.8 1674.8 1597.6 1663.2 1710.7 1727.9 1727.3 11

 12 Fixed investment (3) 1145.3 1178.6 1297.4 1415.2 1467.8 1606.6 1564.3 1580.4 1630.0 1651.8 1639.7 12

 13 Inventory change + IVA -130.8 57.9 34.9 61.8 56.7 66.4 32.9 81.9 75.3 75.5 87.7 13

 14 Nonproduced nonfinancial assets 6.3 -1.1 -0.5 0.9 1.3 1.8 0.3 0.8 5.4 0.5 -0.1 14

 15 Net lending (+) or net borrowing (-) 548.5 145.2 -400.9 -478.9 69.4 -236.5 -214.9 -122.6 -449.7 -158.6 -459.5 15

 16 Net acquisition of financial assets 299.8 632.7 493.4 506.2 1070.5 676.6 388.8 1020.8 567.6 729.1 648.8 16

 17 Foreign deposits 6.8 9.1 -5.8 0.6 42.7 -6.0 -42.5 41.9 9.1 -32.4 6.6 17

 18 Checkable deposits and currency 70.8 79.6 29.7 -45.7 85.1 65.1 -130.6 221.1 93.7 76.1 -29.3 18

 19 Time and savings deposits 176.9 59.9 13.2 33.3 41.0 10.6 75.1 0.3 -121.0 88.1 29.5 19

 20 Money market fund shares -71.4 -157.7 -35.4 57.1 39.7 6.0 -128.3 -43.9 52.0 144.2 -66.8 20

 21 Security repurchase agreements 0.7 4.3 0.4 -2.9 -0.9 4.7 10.1 8.7 -0.2 0.1 -2.6 21

 22 Credit market instruments 10.2 2.6 -7.1 -12.8 -24.4 -16.7 -5.7 -11.5 -18.2 -31.3 33.3 22

 23 Commercial paper -1.3 12.0 -0.1 -8.4 -21.3 -6.6 -4.9 -19.7 4.2 -5.9 3.7 23

 24 Treasury securities 12.5 5.1 -5.1 -3.5 3.3 -4.5 -7.8 -1.0 -2.3 -7.0 5.2 24

 25 Agency- and GSE-backed securities 4.2 1.7 -1.7 -1.2 -2.9 2.5 5.4 7.7 -0.8 -2.3 1.7 25

 26 Municipal securities 0.9 -3.2 -1.6 0.6 -1.1 -8.6 -14.3 -8.5 -11.5 0.0 7.3 26

 27 Mortgages -4.1 -1.6 -0.6 -1.9 1.8 1.8 1.8 1.8 1.8 1.8 1.8 27

 28 Consumer credit -2.0 -11.4 2.0 1.5 -4.2 -1.3 14.2 8.2 -9.6 -18.0 13.6 28

 29 Mutual fund shares 35.3 11.1 -12.8 -1.7 1.0 15.3 15.3 15.3 15.3 15.3 15.3 29

 30 Trade receivables -31.2 105.7 83.7 52.0 277.2 108.8 49.2 160.5 106.4 119.2 104.0 30

 31 U.S. direct investment abroad (4) 269.7 303.3 403.9 315.9 317.4 330.3 160.8 324.9 340.0 495.4 388.9 31

 32 Miscellaneous assets -167.9 214.8 23.6 110.4 291.6 158.4 385.3 303.4 90.4 -145.7 169.8 32

 33 Insurance receivables -4.0 11.7 10.1 7.6 -6.6 8.2 4.2 15.5 13.3 -0.1 -4.0 33

 34 Equity in GSEs 0.0 0.1 -0.0 0.0 0.0 0.1 0.6 -0.2 -0.0 0.1 0.3 34

 35 Investment in finance co. subs. -9.3 26.7 8.4 2.6 14.7 14.1 66.9 -4.8 -6.5 0.7 -7.3 35

 36 Other -154.7 176.3 5.1 100.2 283.5 135.9 313.6 292.9 83.6 -146.4 180.8 36

 37 Net increase in liabilities -248.7 487.6 894.3 985.1 1001.1 913.0 603.7 1143.4 1017.3 887.7 1108.3 37

 38 Net funds raised in markets -409.8 -321.6 -159.7 17.6 75.2 75.9 103.9 52.3 -34.6 181.9 0.3 38

 39 Net new equity issues -51.2 -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -541.7 39

 40 Credit market instruments -358.7 -70.9 294.9 362.6 428.1 463.4 605.7 325.3 399.7 522.9 542.0 40

 41 Commercial paper -73.1 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -70.6 41

 42 Municipal securities (5) 37.2 33.2 8.5 15.2 9.3 -0.1 2.0 -17.2 5.2 9.7 30.6 42

 43 Corporate bonds (4) 215.6 179.3 162.0 323.5 279.8 264.9 286.7 235.4 198.4 339.1 449.7 43

 44 Depository institution loans n.e.c. -234.0 -87.0 92.1 107.8 49.9 85.9 84.1 109.5 71.7 78.3 108.9 44

 45 Other loans and advances (6) -160.8 -90.4 60.2 -33.7 53.7 63.1 158.8 -76.4 69.4 100.5 26.3 45

 46 Mortgages -143.5 -130.5 -61.3 -64.3 21.2 11.7 -0.9 16.4 32.8 -1.6 -2.9 46

 47 Trade payables -82.6 156.3 25.2 66.2 105.4 84.2 48.9 130.7 70.2 86.9 62.2 47

 48 Taxes payable -3.3 7.2 8.8 2.3 -9.1 0.4 -18.3 7.8 18.4 -6.4 51.5 48

 49 Foreign direct investment in U.S. 104.6 157.0 192.7 170.1 207.1 79.8 -446.4 259.6 328.8 177.1 312.8 49

 50 Miscellaneous liabilities 142.4 488.7 827.3 728.9 622.5 672.8 915.6 693.0 634.5 448.2 681.6 50

 51 Pension fund contributions payable -8.6 15.4 3.0 -12.3 -0.6 0.9 -0.8 1.9 3.6 -1.2 6.6 51

 52 Claims of pension fund on sponsor 82.8 -20.7 -16.8 8.4 12.1 23.1 8.2 -47.1 31.9 99.3 33.1 52

 53 Other 68.2 493.9 841.1 732.8 611.0 648.9 908.2 738.2 599.0 350.1 641.9 53

 54 Discrepancy -135.6 296.1 797.5 761.9 209.3 325.2 267.7 221.6 571.2 240.2 433.0 54

 Memo:

 55 Financing gap (7) -258.5 -244.0 -175.1 -81.7 -50.7 94.6 148.8 77.9 66.6 85.3 219.5 55

(1) Consumption of fixed capital plus capital consumption adjustment.

(2) Table F.9, line 58.

(3) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 10 and 15 respectively.

(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries, and U.S. direct investment abroad excludes net inflows from those bond issues.

(5) Industrial revenue bonds issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.

(6) Loans from rest of the world, U.S. government, and nonbank financial institutions. Detail can be found on table F.216.

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
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22 Z.1, June 11, 2015

F.104 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving = consumption of fixed capital 266.7 266.9 265.0 271.8 281.7 294.7 290.9 293.0 296.2 298.5 300.7 1

 2 Gross saving less net capital transfers paid (1) 272.7 274.7 266.6 276.7 281.7 294.7 290.9 293.0 296.2 298.5 300.7 2

 3 Gross investment 272.7 274.7 266.6 276.7 281.7 294.7 290.9 293.0 296.2 298.5 300.7 3

 4 Capital expenditures 227.9 245.1 281.7 303.7 337.9 367.3 346.8 365.8 376.9 379.7 374.0 4

 5 Fixed investment (2) 244.7 241.5 274.8 300.7 320.6 351.7 339.6 347.4 357.7 361.9 356.0 5

 6 Change in inventories -16.8 3.6 6.8 3.0 17.4 15.6 7.2 18.3 19.2 17.8 18.1 6

 7 Net lending (+) or net borrowing (-) 44.8 29.5 -15.1 -27.0 -56.2 -72.6 -55.9 -72.7 -80.8 -81.2 -73.3 7

 8 Net acquisition of financial assets -117.1 152.0 186.3 301.8 77.4 234.6 92.6 246.1 180.0 419.7 330.7 8

 9 Checkable deposits and currency 14.9 -2.7 21.0 59.5 2.5 33.9 15.0 36.6 27.3 56.8 37.7 9

 10 Time and savings deposits -4.8 2.9 6.0 10.1 10.8 27.1 7.5 21.4 15.4 64.3 76.1 10

 11 Money market mutual funds -1.7 3.1 0.8 3.0 2.3 4.3 1.6 4.6 3.3 7.4 5.7 11

 12 Credit market instruments -6.7 6.6 -4.7 1.8 2.7 4.9 1.9 5.3 3.8 8.6 6.5 12

 13 Treasury securities -5.7 1.9 0.8 4.0 1.5 2.8 1.1 3.0 2.2 4.9 3.7 13

 14 Municipal securities 0.2 0.5 0.3 0.2 0.2 0.3 0.1 0.3 0.3 0.6 0.4 14

 15 Mortgages -1.2 4.2 -5.8 -2.4 1.0 1.8 0.7 1.9 1.4 3.1 2.4 15

 16 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Trade receivables -26.3 37.0 61.0 4.6 17.4 31.6 12.0 34.3 24.7 55.2 42.1 17

 18 Miscellaneous assets -92.5 105.0 102.1 222.9 41.7 132.8 54.6 143.9 105.4 227.4 162.5 18

 19 Insurance receivables -9.8 29.9 -11.6 15.9 -27.4 7.5 5.2 10.1 9.2 5.4 -7.1 19

 20 Equity investment in GSEs (3) -0.0 0.4 0.3 0.2 0.6 0.8 1.1 0.3 0.7 0.8 0.4 20

 21 Other -82.7 74.7 113.5 206.9 68.5 124.6 48.3 133.4 95.6 221.1 169.3 21

 22 Net increase in liabilities -161.8 122.4 201.4 328.9 133.6 307.2 148.5 318.8 260.8 500.8 404.0 22

 23 Credit market instruments -97.1 -19.4 3.2 126.0 119.0 219.7 73.4 239.7 179.9 385.9 252.2 23

 24 Depository institution loans n.e.c. -102.0 -16.8 33.5 58.3 46.2 71.1 18.2 108.6 22.7 134.9 119.1 24

 25 Other loans and advances -5.3 4.7 0.6 9.3 6.2 9.6 -10.1 17.7 13.1 17.6 -21.3 25

 26 Mortgages 10.2 -7.3 -30.9 58.4 66.7 139.0 65.3 113.4 144.1 233.3 154.4 26

 27 Trade payables 16.9 30.3 54.8 16.0 16.4 25.3 10.6 29.2 17.9 43.4 56.8 27

 28 Taxes payable -6.3 -0.7 0.6 7.6 3.6 6.5 2.5 7.0 5.1 11.3 18.6 28

 29 Foreign direct investment in U.S. 0.1 0.3 0.0 0.6 0.5 0.9 1.0 0.8 0.8 1.0 0.9 29

 30 Miscellaneous liabilities 32.6 -54.3 -21.0 51.8 -85.4 6.5 -9.9 8.9 0.8 26.4 59.3 30

 31 Proprietors’ net investment -108.2 166.4 163.8 126.8 79.5 48.3 70.9 33.2 56.3 32.8 16.2 31

(1) Net capital transfers paid from table F.9, line 59.

(2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 16 respectively.

(3) Equity in the Farm Credit System.
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Z.1, June 11, 2015 23

F.105 General Government (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 3689.0 3885.0 4077.6 4301.0 4788.6 5007.6 4929.5 4965.6 5057.8 5077.5 5131.3 1

 2 Personal current taxes 1144.9 1191.5 1400.6 1503.7 1661.8 1743.9 1711.8 1715.3 1750.1 1798.6 1843.8 2

 3 Taxes on production and imports 1026.1 1057.1 1102.6 1132.0 1162.4 1203.2 1184.5 1197.9 1212.4 1217.9 1214.6 3

 4 Taxes on corporate income 246.0 346.3 349.6 422.7 440.2 554.6 525.9 570.3 564.2 558.1 569.0 4

 5 Taxes from the rest of the world 14.8 15.7 16.7 18.0 19.2 18.9 20.4 17.8 19.3 18.0 21.3 5

 6 Contributions for govt. social insurance 969.4 989.0 922.2 955.8 1109.9 1167.8 1152.2 1159.8 1171.8 1187.2 1201.4 6

 7 Income receipts on assets 136.3 137.2 135.6 132.3 244.4 159.0 187.3 159.5 142.1 147.1 130.6 7

 8 Current transfer receipts 172.0 171.1 174.7 161.8 180.4 194.4 178.5 178.6 234.2 186.2 185.1 8

 9 Current surplus of government enterprises -20.6 -22.9 -24.5 -25.3 -29.6 -34.2 -31.1 -33.6 -36.3 -35.7 -34.5 9

 10 Current expenditures, NIPA basis 5209.7 5451.0 5537.6 5612.7 5662.9 5812.8 5730.5 5791.3 5885.6 5843.9 5839.0 10

 11 Consumption expenditures 2442.1 2522.2 2530.9 2549.7 2547.6 2585.6 2564.5 2572.1 2616.2 2589.6 2583.0 11

 12 Government social benefits 2117.5 2250.5 2274.8 2325.7 2391.1 2497.8 2446.8 2487.2 2520.5 2536.7 2589.3 12

 13 Other current transfer payments 49.4 49.7 55.6 48.8 46.4 36.0 43.0 2.6 49.6 48.7 51.7 13

 14 Interest payments 542.4 572.7 616.4 630.4 617.7 636.1 618.6 671.9 641.8 612.0 557.7 14

 15 Subsidies 58.3 55.9 60.1 58.0 60.2 57.4 57.7 57.5 57.4 57.0 57.2 15

 16 Net saving, NIPA basis -1520.8 -1566.0 -1460.1 -1311.7 -874.3 -805.2 -801.0 -825.7 -827.8 -766.4 -707.6 16

 17 + Consumption of fixed capital 442.7 458.1 479.6 496.0 506.4 519.9 515.2 518.5 521.8 524.2 526.0 17

 18 - Insurance and pension fund reserves (2) -1.2 -3.2 -2.4 -2.5 -2.2 -2.0 -2.9 -1.0 -2.7 -1.5 -2.5 18

 19 - Net capital transfers (3) -3.4 8.1 7.6 5.8 -13.2 -13.4 -13.4 -13.6 -15.3 -11.3 -16.7 19

 20 = Gross saving less net capital transfers -1073.4 -1112.8 -985.7 -819.1 -352.4 -269.9 -269.5 -292.7 -287.9 -229.4 -162.5 20

 21 Gross investment -1083.8 -1054.9 -1051.7 -761.7 -331.2 -199.7 -360.1 23.8 -423.2 -39.1 12.4 21

 22 Fixed investment 647.0 651.8 637.9 619.4 596.3 589.6 574.6 591.0 593.0 599.7 585.1 22

 23 Nonproduced nonfinancial assets 3.4 9.6 8.3 6.8 6.5 5.4 7.3 6.4 1.6 6.4 6.9 23

 24 Net lending (+) or net borrowing (-) -1734.2 -1716.3 -1698.0 -1387.9 -934.1 -794.7 -942.0 -573.7 -1017.9 -645.2 -579.6 24

 25 Net acquisition of financial assets 257.7 364.0 -181.6 206.8 223.9 389.8 287.7 339.6 278.4 653.3 250.1 25

 26 U.S. official reserve assets 51.9 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -9.9 26

 27 Checkable deposits and currency -154.7 154.5 -241.0 -2.5 77.0 76.7 -27.7 -102.9 90.7 346.9 -472.8 27

 28 Time and savings deposits 10.3 -5.8 16.2 22.0 18.1 10.6 33.7 -24.1 26.5 6.6 37.2 28

 29 Money market fund shares 10.2 14.7 1.9 5.1 2.6 12.4 12.9 18.9 3.2 14.5 33.2 29

 30 Security repurchase agreements -4.0 -0.6 -4.9 4.5 2.6 10.3 10.7 15.5 3.0 12.0 27.0 30

 31 Credit market instruments 278.6 157.1 -45.9 134.2 77.6 188.4 167.0 253.8 113.1 219.8 380.3 31

 32 Open market paper -38.8 13.5 -12.3 -7.3 -8.8 -5.0 -4.1 -2.0 -9.1 -4.7 2.4 32

 33 Treasury securities -16.4 9.4 -34.9 45.3 -13.8 68.6 41.9 107.6 29.9 94.9 200.6 33

 34 Agency- and GSE-backed securities 152.9 -21.6 -132.7 -48.8 -25.9 -15.0 -27.2 -2.7 -25.5 -4.7 -17.3 34

 35 Municipal securities 1.0 1.4 0.2 0.2 0.0 0.8 0.9 1.4 0.1 1.0 2.5 35

 36 Corporate and foreign bonds 4.3 8.7 -2.5 2.9 0.3 10.3 11.0 17.0 0.9 12.4 31.4 36

 37 Mortgages 21.5 8.9 3.1 7.4 5.6 15.2 16.3 24.2 4.6 15.6 43.7 37

 38 Consumer credit 87.9 133.1 128.5 132.1 113.1 111.1 121.2 104.7 112.7 105.8 117.3 38

 39 Other loans and advances 66.2 3.6 4.8 2.4 7.2 2.4 7.1 3.7 -0.4 -0.6 -0.5 39

 40 Corporate equities -1.5 24.4 36.8 -11.6 -4.6 3.9 5.3 8.0 -3.8 5.9 16.3 40

 41 Mutual fund shares 1.8 3.1 -0.3 0.8 0.1 2.8 3.0 4.7 0.2 3.4 8.6 41

 42 Trade receivables -25.7 12.4 10.4 8.2 11.8 5.0 10.2 10.6 5.3 -6.1 17.6 42

 43 Taxes receivable 30.1 28.1 28.1 36.5 31.4 59.4 54.0 116.5 28.0 39.3 175.9 43

 44 Miscellaneous assets 60.6 -25.4 0.8 5.3 10.7 23.9 22.6 35.6 16.3 21.2 36.6 44

 45 Net increase in liabilities 1991.9 2080.3 1516.4 1594.7 1158.0 1184.4 1229.7 913.3 1296.3 1298.5 829.7 45

 46 SDR allocations 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 Treasury currency -0.4 -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 48

 49 Credit market instruments 1556.9 1649.8 1015.2 1134.9 720.2 653.5 702.2 350.1 829.4 732.1 86.4 49

 50 U.S. savings securities -2.8 -3.3 -2.7 -2.8 -3.3 -3.3 -3.3 -3.0 -3.5 -3.2 -3.9 50

 51 Treasury bills and other Treasury securities 1446.5 1582.9 1069.5 1143.3 762.7 670.5 746.2 317.3 917.2 701.1 -48.9 51

 52 Budget agency securities 0.1 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 52

 53 Municipal securities 112.2 68.7 -53.6 -5.7 -39.4 -14.0 -39.0 35.2 -84.0 31.7 139.8 53

 54 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Other loans and advances 0.8 0.9 0.9 0.4 0.5 0.4 0.2 0.5 0.3 0.4 0.4 55

 56 Trade payables -17.3 43.7 47.2 52.2 59.3 58.2 44.5 73.7 64.3 50.3 35.4 56

 57 Insurance reserves 1.1 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 57

 58 Miscellaneous liabilities 401.0 386.2 452.7 407.3 378.6 472.2 483.1 488.9 402.4 514.7 710.1 58

 59 Discrepancy 10.4 -57.9 66.0 -57.3 -21.2 -70.2 90.6 -316.5 135.3 -190.2 -174.9 59

 Memo:

 60 Net acquisition of financial assets (consolidated) (4) 273.2 353.7 -147.5 161.1 237.2 320.8 245.6 231.5 248.2 557.9 49.1 60

 61 Net increase in liabilities (consolidated) (4) 2007.5 2070.0 1550.4 1549.0 1171.3 1115.5 1187.6 805.1 1266.1 1203.1 628.7 61

(1) Sum of the federal government (table F.106) and state and local governments (table F.107) 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.9, line 60 less line 12.

(4) Excludes Treasury securities held by state and local governments (line 33) and federal government loans to state and local governments (line 55).
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24 Z.1, June 11, 2015

F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 2227.8 2391.7 2519.5 2684.1 3113.0 3302.6 3242.6 3276.9 3342.2 3348.8 3401.1 1

 2 Personal current taxes 857.2 893.8 1076.6 1149.0 1286.8 1375.2 1340.3 1356.2 1383.6 1420.8 1467.0 2

 3 Taxes on production and imports 91.4 96.8 108.6 115.0 120.9 134.1 132.0 133.4 135.0 136.0 134.8 3

 4 Taxes on corporate income 200.4 298.7 299.4 369.5 384.9 497.3 470.0 513.5 506.4 499.4 508.6 4

 5 Taxes from the rest of the world 14.8 15.7 16.7 18.0 19.2 18.9 20.4 17.8 19.3 18.0 21.3 5

 6 Contributions for govt. social insurance 950.8 970.9 904.0 938.1 1092.3 1150.1 1134.5 1142.1 1154.2 1169.7 1184.0 6

 7 Income receipts on assets 48.5 54.6 56.4 53.6 164.7 78.1 106.8 78.6 61.1 65.8 49.0 7

 8 Current transfer receipts 64.0 64.4 65.0 49.9 59.5 68.5 55.5 54.6 104.2 59.8 56.1 8

 9 Current surplus of government enterprises 0.7 -3.1 -7.1 -9.1 -15.3 -19.7 -16.9 -19.3 -21.7 -20.8 -19.7 9

 10 Current expenditures, NIPA basis 3476.6 3720.5 3763.7 3763.2 3762.1 3883.1 3802.7 3875.5 3953.2 3900.9 3906.8 10

 11 Consumption expenditures 933.7 1003.9 1006.1 1003.6 963.0 965.2 957.1 955.5 987.7 960.6 962.7 11

 12 Government social benefits 1624.9 1726.6 1744.4 1785.1 1825.6 1882.8 1854.3 1879.5 1892.8 1904.4 1940.1 12

 13 Other current transfer payments 507.5 555.0 528.0 493.2 496.3 536.9 513.0 507.7 567.9 559.0 578.5 13

 14 Interest payments 353.6 380.6 425.7 423.8 417.4 441.3 421.1 475.9 447.9 420.5 368.8 14

 15 Subsidies 56.9 54.3 59.5 57.6 59.7 56.9 57.2 57.0 56.9 56.5 56.7 15

 16 Net saving, NIPA basis -1248.8 -1328.7 -1244.1 -1079.1 -649.1 -580.5 -560.1 -598.6 -611.0 -552.2 -505.7 16

 17 + Consumption of fixed capital 234.5 245.3 257.4 264.1 268.0 274.4 272.1 273.7 275.3 276.7 277.9 17

 18 - Insurance and pension reserves (1) -1.2 -3.2 -2.4 -2.5 -2.2 -2.0 -2.9 -1.0 -2.7 -1.5 -2.5 18

 19 - Net capital transfers paid (2) 64.4 84.8 81.5 80.0 58.4 58.2 56.9 58.5 61.4 56.0 52.3 19

 20 = Gross saving less net capital transfers paid -1077.4 -1165.0 -1065.8 -892.6 -437.3 -362.2 -342.0 -382.4 -394.4 -330.0 -277.5 20

 21 Gross investment -1023.1 -1115.9 -1055.9 -831.4 -395.2 -308.5 -406.3 -96.4 -549.9 -181.6 -141.7 21

 22 Fixed investment 284.0 300.0 297.4 287.8 268.5 253.9 251.0 255.0 253.6 256.1 253.8 22

 23 Nonproduced nonfinancial assets -8.9 -1.0 -0.9 -1.9 -2.4 -2.8 -1.3 -1.9 -6.5 -1.6 -1.0 23

 24 Net lending (+) or net borrowing (-) -1298.2 -1414.9 -1352.4 -1117.2 -661.3 -559.6 -656.0 -349.4 -797.0 -436.1 -394.5 24

 25 Net acquisition of financial assets 237.8 281.9 -150.7 132.4 222.1 233.6 168.6 120.2 221.0 424.4 -151.1 25

 26 U.S. official reserve assets 51.9 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -9.9 26

 27 Checkable deposits and currency -174.2 148.9 -257.6 6.7 69.6 60.8 -36.0 -104.1 73.3 309.8 -450.2 27

 28 Time and savings deposits 0.3 0.1 -0.3 0.2 -0.5 0.2 -0.1 -0.0 0.4 0.6 -0.5 28

 29 Credit market instruments 309.2 84.5 18.3 104.9 124.2 115.2 130.2 110.6 115.2 104.8 120.3 29

 30 Agency- and GSE-backed securities 142.0 -47.2 -118.1 -31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Corporate and foreign bonds 0.6 0.3 -0.1 -0.2 -0.1 -0.0 -0.0 -0.1 0.0 0.0 0.0 31

 32 Other loans and advances 66.2 3.6 4.8 2.4 7.2 2.4 7.1 3.7 -0.4 -0.6 -0.5 32

 33 Mortgages 12.6 -5.4 3.3 1.6 4.0 1.7 1.9 2.3 2.9 -0.3 3.5 33

 34 Consumer credit (3) 87.9 133.1 128.5 132.1 113.1 111.1 121.2 104.7 112.7 105.8 117.3 34

 35 Corporate equities (4) 0.6 24.1 40.3 -13.2 -4.8 -1.6 -0.6 -1.1 -4.2 -0.7 -0.4 35

 36 Trade receivables -21.1 -0.7 4.8 2.6 3.3 -2.7 8.1 -2.8 -0.7 -15.1 11.2 36

 37 Taxes receivable 35.9 27.1 25.6 27.9 27.8 53.0 60.1 94.6 30.2 26.9 167.8 37

 38 Miscellaneous assets 35.2 -3.6 2.0 -1.0 5.9 12.5 11.0 19.9 11.0 8.2 10.7 38

 39 Net increase in liabilities 1536.0 1696.7 1201.7 1249.6 883.4 793.2 824.6 469.6 1018.0 860.5 243.4 39

 40 SDR allocations 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Treasury currency -0.4 -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 42

 43 Credit market instruments 1443.9 1580.2 1067.9 1140.2 759.1 667.1 741.0 314.4 913.1 700.0 -53.8 43

 44 U.S. savings securities -2.8 -3.3 -2.7 -2.8 -3.3 -3.3 -3.3 -3.0 -3.5 -3.2 -3.9 44

 45 Treasury bills -73.3 -19.0 -249.5 107.0 -35.9 -133.9 238.7 -1055.3 92.9 188.3 79.4 45

 46 Other Treasury securities 1519.8 1601.8 1319.0 1036.3 798.7 804.4 507.6 1372.7 824.3 512.9 -128.3 46

 47 Budget agency securities 0.1 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 47

 48 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 Trade payables -56.2 5.2 8.8 13.4 19.6 17.5 4.5 33.0 23.2 9.2 -4.7 49

 50 Insurance reserves 1.1 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 50

 51 Miscellaneous liabilities 97.0 110.7 123.7 95.7 104.8 108.1 79.2 121.7 81.6 149.9 304.0 51

 52 Nonmarketable securities held by pension plans (5) 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 52

 53 Claims of pension fund on sponsor 15.6 20.2 20.8 50.3 -6.8 25.9 19.8 42.1 14.7 26.8 409.9 53

 54 Other 19.5 24.9 32.1 5.0 13.4 13.4 -15.5 27.0 -13.1 55.2 -34.4 54

 55 Discrepancy -54.3 -49.1 -9.9 -61.2 -42.1 -53.7 64.3 -286.0 155.5 -148.4 -135.9 55

 Memo:

 56 Change in cash balance (6) -173.2 148.9 -258.0 7.5 69.6 62.1 -79.3 -6.5 78.1 256.1 -492.7 56

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

(2) Table F.9, line 61 less line 12.

(3) Includes loans originated by the Department of Education under the Federal Direct Loan Program, as well as Federal Family Education Loan Program loans that

 the government purchased from depository institutions and finance companies.

(4) Corporate equities purchased from financial businesses under the Troubled Asset Relief Program (TARP) and from GSEs at issuance price.

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

 and foreign service retirement and disability fund.

(6) Time and savings deposits (line 29) plus checkable deposits and currency at the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
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F.107 State and Local Governments (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 1919.2 1998.5 2030.5 2061.2 2125.6 2205.9 2157.0 2193.8 2233.9 2239.1 2256.9 1

 2 Personal current taxes 287.8 297.6 324.1 354.7 375.0 368.7 371.5 359.1 366.5 377.7 376.9 2

 3 Taxes on production and imports 934.8 960.4 994.0 1017.0 1041.6 1069.1 1052.5 1064.6 1077.4 1081.9 1079.7 3

 4 Taxes on corporate income 45.6 47.7 50.2 53.2 55.3 57.3 55.9 56.8 57.8 58.7 60.4 4

 5 Contributions for govt. social insurance 18.6 18.1 18.2 17.7 17.7 17.6 17.7 17.7 17.6 17.5 17.4 5

 6 Income receipts on assets 87.8 82.6 79.2 78.6 79.7 80.9 80.5 80.9 81.0 81.3 81.6 6

 7 Current transfer receipts 566.1 612.0 582.1 556.2 570.8 626.8 593.1 629.1 648.3 636.8 655.7 7

 8 Current surplus of government enterprises -21.4 -19.8 -17.4 -16.2 -14.3 -14.5 -14.1 -14.3 -14.7 -14.8 -14.7 8

 9 Current expenditures, NIPA basis 2191.2 2235.8 2246.4 2293.8 2350.7 2430.7 2397.9 2420.9 2450.7 2453.3 2458.9 9

 10 Consumption expenditures 1508.4 1518.3 1524.8 1546.1 1584.5 1620.4 1607.4 1616.6 1628.5 1629.1 1620.2 10

 11 Govt. social benefit payments to persons 492.6 523.8 530.4 540.6 565.4 615.1 592.5 607.8 627.7 632.3 649.2 11

 12 Interest payments 188.8 192.1 190.7 206.6 200.3 194.8 197.5 196.1 193.9 191.5 188.9 12

 13 Subsidies 1.4 1.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 13

 14 Net saving, NIPA basis -271.9 -237.3 -215.9 -232.6 -225.1 -224.8 -240.9 -227.1 -216.8 -214.3 -201.9 14

 15 + Consumption of fixed capital 208.2 212.7 222.2 231.8 238.4 245.5 243.1 244.7 246.5 247.6 248.0 15

 16 - Net capital transfers paid (2) -67.7 -76.7 -73.8 -74.2 -71.6 -71.6 -70.3 -72.2 -76.7 -67.3 -69.0 16

 17 = Gross saving less net capital transfers paid 4.0 52.2 80.1 73.5 84.9 92.3 72.5 89.7 106.5 100.7 115.1 17

 18 Gross investment -60.7 61.0 4.1 69.7 64.0 108.9 46.2 120.2 126.7 142.4 154.1 18

 19 Fixed investment 363.0 351.9 340.5 331.6 327.8 335.7 323.6 336.1 339.4 343.6 331.3 19

 20 Nonproduced nonfinancial assets 12.3 10.6 9.2 8.7 9.0 8.3 8.6 8.4 8.2 8.0 7.9 20

 21 Net lending (+) or net borrowing (-) -436.0 -301.4 -345.6 -270.7 -272.8 -235.1 -286.0 -224.2 -220.9 -209.1 -185.1 21

 22 Net acquisition of financial assets 19.9 82.1 -30.9 74.5 1.7 156.2 119.1 219.4 57.4 228.9 401.2 22

 23 Checkable deposits and currency 19.6 5.7 16.6 -9.2 7.4 16.0 8.3 1.2 17.4 37.1 -22.5 23

 24 Time and savings deposits 10.0 -5.9 16.5 21.8 18.6 10.4 33.8 -24.1 26.1 6.0 37.7 24

 25 Money market fund shares 10.2 14.7 1.9 5.1 2.6 12.4 12.9 18.9 3.2 14.5 33.2 25

 26 Security repurchase agreements -4.0 -0.6 -4.9 4.5 2.6 10.3 10.7 15.5 3.0 12.0 27.0 26

 27 Credit market instruments -30.6 72.6 -64.2 29.3 -46.6 73.2 36.8 143.2 -2.1 114.9 260.0 27

 28 Open market paper -38.8 13.5 -12.3 -7.3 -8.8 -5.0 -4.1 -2.0 -9.1 -4.7 2.4 28

 29 Treasury securities -16.4 9.4 -34.9 45.3 -13.8 68.6 41.9 107.6 29.9 94.9 200.6 29

 30 Agency- and GSE-backed securities 11.0 25.6 -14.6 -17.7 -25.9 -15.0 -27.2 -2.7 -25.5 -4.7 -17.3 30

 31 Municipal securities 1.0 1.4 0.2 0.2 0.0 0.8 0.9 1.4 0.1 1.0 2.5 31

 32 Corporate and foreign bonds 3.7 8.4 -2.4 3.1 0.4 10.3 11.0 17.0 0.9 12.4 31.4 32

 33 Mortgages 8.9 14.3 -0.2 5.7 1.6 13.5 14.4 21.8 1.7 16.0 40.2 33

 34 Corporate equities -2.1 0.3 -3.5 1.6 0.2 5.5 5.9 9.1 0.5 6.6 16.8 34

 35 Mutual fund shares 1.8 3.1 -0.3 0.8 0.1 2.8 3.0 4.7 0.2 3.4 8.6 35

 36 Trade receivables -4.6 13.1 5.6 5.6 8.5 7.7 2.1 13.5 6.1 9.0 6.4 36

 37 Taxes receivable -5.8 1.0 2.5 8.6 3.6 6.5 -6.0 21.9 -2.3 12.3 8.1 37

 38 Miscellaneous assets 25.5 -21.9 -1.2 6.3 4.8 11.4 11.6 15.7 5.3 13.0 25.9 38

 39 Net increase in liabilities 455.9 383.5 314.7 345.1 274.6 391.3 405.1 443.7 278.2 438.0 586.3 39

 40 Credit market instruments 113.0 69.5 -52.7 -5.3 -38.9 -13.7 -38.8 35.7 -83.7 32.2 140.2 40

 41 Municipal securities 112.2 68.7 -53.6 -5.7 -39.4 -14.0 -39.0 35.2 -84.0 31.7 139.8 41

 42 Short-term (3) 7.8 -0.7 -10.6 3.8 -10.9 -6.7 -5.0 16.0 -33.5 -4.1 2.1 42

 43 Long-term 104.4 69.3 -42.9 -9.4 -28.6 -7.4 -34.0 19.2 -50.5 35.9 137.7 43

 44 U.S. government loans 0.8 0.9 0.9 0.4 0.5 0.4 0.2 0.5 0.3 0.4 0.4 44

 45 Trade payables 38.9 38.5 38.4 38.8 39.6 40.7 40.0 40.7 41.1 41.1 40.1 45

 46 Claims of pension fund on sponsor (4) 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 46

 47 Discrepancy 64.7 -8.8 76.0 3.8 20.9 -16.5 26.3 -30.5 -20.3 -41.8 -39.0 47

(1) Data for state and local government employee retirement funds are shown in table F.120.

(2) Table F.9, line 62.

(3) Debt with original maturity of 13 months or less.

(4) Included in miscellaneous liabilities.
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F.108 Financial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid 340.9 375.1 319.6 310.2 286.2 292.6 279.0 300.8 277.8 312.7 289.4 1

 2 Gross investment 182.8 174.6 222.6 314.6 367.7 318.1 188.0 241.1 636.7 206.7 261.0 2

 3 Capital expenditures 167.5 166.8 173.9 195.5 216.2 221.8 202.7 232.9 223.4 228.1 234.7 3

 4 Fixed residential investment 0.7 4.0 6.5 5.3 14.7 7.4 -3.6 19.7 5.4 8.2 11.7 4

 5 Fixed nonresidential investment 166.9 162.8 167.5 190.2 201.5 214.3 206.3 213.1 218.0 219.9 223.0 5

 6 Net lending (+) or net borrowing (-) 15.3 7.8 48.7 119.1 151.5 96.4 -14.7 8.2 413.3 -21.4 26.3 6

 7 Net acqisition of financial assets -1291.2 34.8 2160.1 1800.9 3556.3 3114.4 4168.3 3564.7 2573.9 2150.8 2670.8 7

 8 U.S. official reserve assets 0.3 0.3 -0.3 0.2 0.2 0.2 0.2 0.1 0.5 0.1 0.1 8

 9 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury currency 4.0 0.9 0.7 0.6 0.7 0.8 1.0 0.9 0.8 0.5 1.5 10

 11 Foreign deposits 11.6 8.7 -62.9 0.4 -9.6 -9.6 -57.3 29.0 -13.7 3.6 0.8 11

 12 Net interbank assets -349.5 -106.9 603.0 -64.1 760.1 131.5 776.2 47.8 339.5 -637.7 234.2 12

 13 Checkable deposits and currency -30.4 -32.3 37.1 9.9 -3.6 -19.1 -65.3 37.2 91.8 -140.3 2.9 13

 14 Time and savings deposits 128.6 -109.1 -48.0 5.2 76.1 11.8 69.3 60.4 76.2 -158.7 79.1 14

 15 Money market fund shares -175.4 -172.6 -65.4 -81.0 -52.5 17.9 -80.9 -137.6 35.2 254.9 1.8 15

 16 Federal funds and security repos -495.4 270.8 117.9 262.5 -375.0 45.4 50.0 316.7 -349.8 164.7 86.2 16

 17 Credit market instruments -807.8 -37.9 1141.3 1270.5 1914.8 1914.3 1812.0 1942.9 1943.5 1958.8 1147.9 17

 18 Open market paper -390.0 -93.7 -74.9 -0.5 34.6 -16.9 40.9 101.1 -142.0 -67.8 -112.2 18

 19 Treasury securities 366.2 505.7 966.0 289.6 531.5 499.0 687.4 356.6 707.1 244.7 278.0 19

 20 Agency- and GSE-backed securities 680.6 50.4 166.2 212.5 428.5 245.4 235.7 144.2 230.6 371.1 -88.4 20

 21 Municipal securities 38.4 44.2 13.5 139.2 8.6 50.2 28.7 42.3 78.8 50.8 134.0 21

 22 Corporate and foreign bonds -30.2 210.6 128.6 418.1 412.4 390.5 330.5 552.2 328.1 351.3 393.9 22

 23 Depository institution loans n.e.c. -758.5 -92.2 146.6 186.1 186.1 308.0 316.2 321.6 195.3 399.0 419.1 23

 24 Other loans and advances -463.8 -209.7 -30.9 38.7 133.4 121.0 90.0 115.8 146.8 131.5 -48.1 24

 25 Mortgages -66.8 -316.7 -155.8 -57.8 106.3 202.8 19.1 159.6 271.8 360.6 109.0 25

 26 Consumer credit -183.7 -136.7 -17.9 44.7 73.4 114.4 63.5 149.4 127.0 117.6 62.6 26

 27 Corporate equities 155.1 51.6 -70.2 6.2 196.8 118.9 -73.3 174.0 163.3 211.5 -65.9 27

 28 Mutual fund shares 65.0 49.8 -52.4 -45.1 46.3 6.8 26.8 9.8 -2.1 -7.3 18.3 28

 29 Trade receivables -38.0 -8.6 -0.8 -1.6 -2.2 1.1 13.6 13.6 -13.6 -9.1 21.3 29

 30 Security credit 30.3 81.4 -8.3 55.7 45.9 42.3 -55.3 224.0 69.2 -68.6 -59.5 30

 31 Life insurance reserves 2.8 8.2 7.7 14.7 10.8 10.9 10.4 11.2 9.8 12.2 9.4 31

 32 U.S. direct investment abroad 40.7 -2.3 15.2 17.1 32.1 27.7 34.9 13.1 45.5 17.2 -3.1 32

 33 Miscellaneous assets 163.9 32.9 545.7 349.7 915.3 813.6 1706.0 821.7 177.8 548.8 1195.8 33

 34 Net increase in liabilities -1306.5 27.0 2111.4 1681.7 3404.8 3018.1 4183.0 3556.5 2160.6 2172.2 2644.5 34

 35 Net interbank liabilities -536.9 -142.8 820.5 -194.5 1129.1 51.2 1175.1 98.3 262.0 -1330.5 595.8 35

 36 Checkable deposits and currency -7.9 266.3 234.5 267.7 332.6 351.1 183.4 578.9 229.8 412.1 -205.7 36

 37 Time and savings deposits 343.7 115.6 404.1 520.4 409.1 513.2 748.7 425.3 171.3 707.6 892.4 37

 38 Money market fund shares -498.7 -503.2 -112.8 7.1 28.9 9.6 -86.3 -143.8 39.7 228.7 -47.5 38

 39 Federal funds and security repos -431.0 213.4 179.9 210.9 -389.4 7.8 34.0 357.2 -511.0 151.0 -0.9 39

 40 Credit market instruments -1663.4 -901.8 -341.4 -419.3 213.9 271.7 -300.4 323.8 466.2 597.2 -340.7 40

 41 Open market paper -448.1 -102.2 -68.2 -58.8 -48.9 -36.6 -83.2 30.9 48.5 -142.5 -148.1 41

 42 Agency- and GSE-backed securities -60.1 -46.9 -21.9 -22.4 239.9 150.6 -278.1 184.6 225.9 469.9 -164.4 42

 43 Corporate and foreign bonds -448.5 -546.3 -237.4 -225.2 -84.1 68.6 26.0 89.6 61.4 97.3 -27.8 43

 44 Depository institution loans n.e.c. -435.9 -62.5 32.6 -121.2 20.9 2.2 6.1 -132.1 45.8 89.0 26.6 44

 45 Other loans and advances -282.6 -144.7 -60.0 3.5 78.3 73.1 16.0 144.2 79.2 53.1 -44.3 45

 46 Mortgages 11.8 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.2 46

 47 Corporate equities 315.9 191.4 164.1 168.3 162.5 219.6 37.1 298.9 177.1 365.1 315.1 47

 48 Mutual fund shares 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 48

 49 Trade payables 48.9 -52.0 -3.8 -0.0 0.3 3.4 1.0 11.9 8.4 -7.8 5.1 49

 50 Security credit -43.5 29.8 31.9 32.8 68.9 65.4 221.8 6.3 113.4 -79.7 7.7 50

 51 Life insurance reserves 26.3 13.6 79.9 -12.2 29.8 55.5 41.8 52.1 55.0 73.1 89.1 51

 52 Pension entitlements 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 52

 53 Taxes payable 6.1 13.0 10.7 6.9 17.7 15.9 46.7 27.8 -10.1 -0.8 35.6 53

 54 Equity in noncorporate business 0.6 0.9 -2.9 6.7 -3.9 2.3 3.0 -1.8 6.7 1.1 0.8 54

 55 Foreign direct investment in U.S. 45.7 48.5 43.4 4.5 28.7 17.1 18.4 15.6 14.2 20.2 17.4 55

 56 Miscellaneous liabilities 192.6 -232.2 -233.2 -40.2 239.4 291.7 845.4 302.3 16.6 2.4 213.0 56

 57 Discrepancy 158.1 200.5 97.0 -4.4 -81.5 -25.5 91.0 59.7 -358.9 106.0 28.5 57

(1) Sum of financial sectors shown on tables F.109 through F.131.
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F.109 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving -0.7 -8.5 -0.2 -17.5 -0.8 -1.4 -1.1 -1.4 -1.6 -1.5 -1.4 1

 2 Fixed nonresidential investment 0.8 0.7 0.6 0.8 0.9 0.9 0.9 0.9 0.9 0.9 0.9 2

 3 Net acquisition of financial assets -4.5 185.5 493.6 9.7 1118.8 481.6 922.1 543.3 291.4 169.7 -10.5 3

 4 U.S. official reserve assets 0.3 0.3 -0.3 0.2 0.2 0.2 0.2 0.1 0.5 0.1 0.1 4

 5 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency 4.0 0.9 0.7 0.6 0.7 0.8 1.0 0.9 0.8 0.5 1.5 6

 7 Federal Reserve float (2) -0.6 0.7 0.8 0.1 -0.5 0.4 1.7 0.1 -1.6 1.4 -0.8 7

 8 Interbank loans (2) -463.1 -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 8

 9 Discount window (3) -447.4 -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 9

 10 AMLF (4) -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Security repurchase agreements -80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit market instruments 1001.6 271.5 376.5 34.5 1086.1 480.6 911.1 538.5 299.7 173.1 21.6 12

 13 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Treasury securities 300.7 244.9 642.0 2.7 542.6 252.6 498.9 310.2 184.4 16.9 48.4 14

 15 Treasury bills 0.0 0.0 0.0 -18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Other Treasury securities 300.7 244.9 642.0 21.1 542.6 252.6 498.9 310.2 184.4 16.9 48.4 16

 17 Agency- and GSE-backed securities 1048.5 71.4 -197.9 61.8 543.9 228.1 412.3 228.4 115.5 156.3 -26.8 17

 18 Mortgage-backed securities 908.4 83.8 -154.5 89.0 563.5 246.7 451.8 243.2 130.1 161.6 -19.6 18

 19 Other agency- and GSE-baked securities 140.2 -12.4 -43.5 -27.2 -19.6 -18.5 -39.5 -14.7 -14.6 -5.3 -7.2 19

 20 Depository institution loans n.e.c. -347.6 -44.8 -67.6 -29.9 -0.5 -0.1 -0.1 -0.1 -0.1 -0.1 0.0 20

 21 Households (TALF) (5) 47.5 -22.8 -15.7 -8.5 -0.5 -0.1 -0.1 -0.1 -0.1 -0.1 0.0 21

 22 Brokers and dealers (6) -45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Funding corporations (Maiden Lane) (7) 0.1 -3.4 -21.0 -4.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (AIG) -16.7 -2.2 -20.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (Maiden Lane II) (8) -3.5 -2.5 -6.7 -6.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Funding corporations (Maiden Lane III) (9) -5.9 -4.4 -4.2 -9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Funding corporations (CPFF) (10) -323.6 -9.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Corporate equities (11) 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Miscellaneous assets -494.9 7.3 142.4 -25.6 32.3 -0.5 8.2 3.3 -8.8 -4.8 -32.5 30

 31 Nonofficial foreign currencies (12) -543.5 -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 31

 32 Other 48.5 17.5 42.7 65.3 40.9 -1.8 7.7 4.4 -9.3 -9.9 -29.6 32

 33 Net increase in liabilities -9.1 184.6 493.2 9.3 1118.7 480.6 919.9 542.9 291.2 168.2 -11.5 33

 34 Depository institution reserves 117.0 -8.9 594.2 -71.2 758.0 128.9 781.0 46.1 328.0 -639.4 237.1 34

 35 Vault cash of depository institutions -2.8 -2.2 8.1 7.1 2.6 2.0 -6.3 1.1 12.3 1.0 -1.7 35

 36 Checkable deposits and currency -117.6 185.0 -122.1 62.1 139.5 152.2 -16.3 58.8 194.4 372.0 -413.5 36

 37 Due to federal government -173.8 149.0 -255.0 7.0 69.8 61.0 -78.7 -7.4 75.8 254.4 -491.2 37

 38 Treasury cash holdings -0.0 -0.1 -0.0 0.0 0.1 -0.0 0.2 -0.5 0.1 0.2 -0.0 38

 39 Treasury general deposit account 80.5 -45.9 -55.0 7.0 69.7 61.1 -78.9 -6.9 75.8 254.2 -491.2 39

 40 Treasury temporary supplementary financing account -254.3 195.0 -200.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Due to government-sponsored enterprises 14.0 -21.6 51.1 -37.4 -1.3 -5.8 -60.3 1.4 62.9 -27.0 3.0 41

 42 Due to rest of the world 1.0 0.9 -3.2 6.3 1.5 -2.7 -4.0 -4.1 -2.8 0.0 -0.1 42

 43 Currency outside banks 41.2 56.7 85.0 86.2 69.5 99.7 126.6 69.0 58.5 144.6 74.8 43

 44 Security repurchase agreements -10.6 -18.0 40.2 7.3 208.7 193.9 100.4 461.9 -185.5 398.8 108.1 44

 45 Reverse repurchase agreement operations (13) 0.0 0.0 0.0 0.0 197.8 199.0 177.3 389.6 -157.9 386.8 -72.9 45

 46 Other -10.6 -18.0 40.2 7.3 11.0 -5.0 -76.9 72.3 -27.6 12.0 180.9 46

 47 Miscellaneous liabilities 4.9 28.7 -27.2 4.0 9.8 3.5 61.2 -25.1 -58.0 35.7 58.5 47

 48 Federal Reserve Bank stock 4.6 0.9 0.4 0.5 0.1 1.1 2.2 0.4 0.1 1.5 1.0 48

 49 Other 0.4 27.8 -27.5 3.5 9.7 2.4 59.0 -25.5 -58.1 34.2 57.5 49

 50 Discrepancy -6.0 -10.0 -1.2 -18.8 -1.9 -3.4 -4.1 -2.8 -2.6 -4.0 -3.3 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) Shown on table F.203.

(3) Federal Reserve loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF.

(7) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(8) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(9) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(10) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(11) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.

(13) 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).
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28 Z.1, June 11, 2015

F.110 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (2) 92.2 144.6 75.8 15.8 15.5 -29.8 -19.0 -35.3 -54.6 -10.1 2.7 1

 2 Fixed nonresidential investment 45.7 35.7 25.1 27.5 28.9 31.2 28.9 31.5 31.9 32.7 34.9 2

 3 Net lending (+) or net borrowing (-) -316.8 -24.5 -14.5 -71.3 55.2 -51.5 -95.2 -104.2 173.9 -180.4 50.2 3

 4 Net acquisition of financial assets -699.2 -193.2 840.5 500.1 993.4 972.1 1809.1 1240.3 793.0 45.8 1492.3 4

 5 Vault cash -2.8 -2.2 8.1 7.1 2.6 2.0 -6.3 1.1 12.3 1.0 -1.7 5

 6 Reserves at Federal Reserve 117.0 -8.9 594.2 -71.2 758.0 128.9 781.0 46.1 328.0 -639.4 237.1 6

 7 Federal funds and security repos -308.1 20.9 22.5 112.0 -98.0 10.6 44.8 118.6 -62.7 -58.2 54.0 7

 8 Credit market instruments -536.6 -139.5 249.9 476.7 296.7 783.5 782.2 883.2 606.2 862.5 1017.8 8

 9 Open market paper -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 94.7 103.0 -46.7 86.6 -35.1 195.4 176.9 173.8 217.5 213.5 -5.9 10

 11 Agency- and GSE-backed securities 172.6 138.5 133.6 49.7 42.4 26.2 27.7 9.0 76.7 -8.4 192.4 11

 12 Municipal securities 3.4 29.3 46.8 68.0 55.1 31.0 37.0 16.2 34.4 36.5 69.3 12

 13 Corporate and foreign bonds -137.8 -124.7 4.3 -13.8 -16.2 -35.9 -54.0 2.8 -95.4 2.9 -17.9 13

 14 Depository institution loans n.e.c. -410.9 -47.4 214.1 216.0 186.6 308.1 316.2 321.7 195.5 399.1 419.1 14

 15 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Mortgages -179.4 -157.2 -105.8 21.7 -11.0 149.9 205.2 217.4 66.8 110.3 299.4 16

 17 Consumer credit -63.6 -81.0 3.6 48.7 74.9 108.8 73.2 142.3 110.8 108.7 61.4 17

 18 Corporate equities 6.3 -1.7 0.9 -10.5 0.8 0.7 -2.5 -0.7 1.6 4.3 -1.7 18

 19 Mutual fund shares 14.1 -5.6 -0.5 -0.7 1.5 -0.8 8.7 5.0 -13.1 -3.5 -2.9 19

 20 Security credit -7.8 6.2 31.0 -9.2 10.4 12.0 19.0 4.7 9.8 14.3 1.4 20

 21 Life insurance reserves 0.8 4.5 5.2 7.4 5.7 5.9 5.6 6.0 5.0 6.9 5.2 21

 22 U.S. direct investment abroad -0.8 2.7 -6.2 -2.6 3.5 5.2 -5.4 0.4 18.6 7.1 -15.6 22

 23 Miscellaneous assets 18.7 -69.4 -64.8 -9.1 12.2 24.0 182.0 175.9 -112.7 -149.2 198.7 23

 24 Net increase in liabilities -382.4 -168.7 855.0 571.4 938.2 1023.5 1904.3 1344.5 619.1 226.2 1442.2 24

 25 Net interbank liabilities -651.1 -131.7 218.2 -130.3 368.5 -79.7 400.4 51.1 -78.4 -692.1 360.4 25

 26 Checkable deposits 109.7 81.3 356.7 205.6 193.1 198.8 199.7 520.1 35.4 40.1 207.7 26

 27 Small time and savings deposits 517.2 298.3 577.4 539.6 307.0 365.0 517.3 355.7 449.6 137.3 1031.1 27

 28 Large time deposits -173.6 -182.7 -173.3 -19.2 102.1 148.2 231.4 69.6 -278.3 570.3 -138.7 28

 29 Federal funds and security repos -132.2 6.7 -27.1 -32.0 -92.8 25.4 208.7 -0.4 -43.1 -63.7 -51.5 29

 30 Credit market instruments -306.3 -218.0 -52.4 -109.9 -31.5 43.5 -24.1 116.5 48.6 33.0 -138.2 30

 31 Open market paper 0.1 -20.1 7.6 -33.1 -27.8 -5.2 -5.2 -9.6 -5.0 -0.9 -21.9 31

 32 Corporate bonds -28.5 -49.2 2.4 -82.3 -74.9 -12.0 -27.2 -10.1 -11.9 1.0 -57.5 32

 33 Other loans and advances -278.0 -148.7 -62.5 5.6 71.2 60.7 8.3 136.2 65.4 32.8 -58.7 33

 34 Corporate equity issues 11.6 11.9 6.4 1.6 2.2 2.7 2.5 4.3 2.8 1.2 24.0 34

 35 Taxes payable (net) 7.3 6.6 10.6 7.0 0.1 15.2 31.1 29.0 -11.6 12.3 19.1 35

 36 Foreign direct investment in U.S. 16.6 12.4 26.0 -0.8 4.0 3.1 3.7 2.7 -6.1 12.1 2.8 36

 37 Miscellaneous liabilities 218.3 -53.5 -87.4 109.8 85.4 301.4 333.5 195.8 500.3 175.9 125.4 37

 38 Investment by holding companies 166.8 33.4 76.1 101.2 59.2 191.0 165.8 206.4 114.4 277.5 -86.0 38

 39 Investment by funding corporations -73.5 -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 39

 40 Other 125.0 -55.4 -129.8 20.4 28.7 130.6 166.3 1.6 357.8 -3.1 239.4 40

 41 Discrepancy 363.3 133.4 65.1 59.7 -68.6 -9.5 47.3 37.4 -260.4 137.6 -82.4 41

 Memo:

 42 Consumer leases not included above (3) -2.6 -0.8 -0.1 0.4 1.5 0.7 0.7 0.9 1.1 0.1 0.1 42

(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) Net capital transfers paid from table F.9, line 54.

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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Z.1, June 11, 2015 29

F.111 U.S.-Chartered Depository Institutions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (1) 83.3 133.8 62.7 0.4 -0.5 -41.2 -29.7 -46.7 -66.5 -21.9 -9.0 1

 2 Fixed nonresidential investment 40.0 31.0 20.1 21.7 21.9 23.9 21.7 24.2 24.4 25.2 27.3 2

 3 Net acquisition of financial assets -501.8 -304.7 322.7 472.6 635.0 845.5 1012.9 1033.8 704.5 630.8 1473.4 3

 4 Vault cash -2.8 -2.2 8.1 7.1 2.5 2.0 -6.3 1.0 12.4 0.9 -1.6 4

 5 Reserves at Federal Reserve 44.4 -85.6 222.9 -0.2 454.4 190.7 233.6 114.0 285.2 130.0 247.4 5

 6 Federal funds and security repos -308.2 0.7 -25.0 60.1 -87.2 -30.4 -54.6 2.8 -25.8 -43.9 120.3 6

 7 Credit market instruments -280.4 -120.7 173.7 424.0 253.5 672.5 667.0 763.4 534.2 725.5 916.2 7

 8 Open market paper -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities 68.1 93.0 -43.7 69.3 -26.1 203.3 174.0 175.1 216.7 247.3 -5.8 9

 10 Agency- and GSE-backed securities 168.0 110.1 106.9 35.5 47.7 43.0 54.9 19.6 89.0 8.4 218.9 10

 11 Residential mortgage pass-through securities -13.4 -2.2 63.8 18.6 40.8 26.2 22.0 11.4 53.4 18.0 178.2 11

 12 Commercial mortgage pass-through securities 0.1 -0.2 4.8 8.6 8.5 12.2 7.2 22.4 15.2 4.0 14.0 12

 13 Residential CMOs and other structured MBS 70.1 129.4 80.3 -10.8 -23.6 13.0 44.9 -6.1 14.0 -0.7 19.3 13

 14 Commercial CMOs and other structured MBS 0.1 -0.4 9.8 21.0 23.9 14.6 12.8 10.7 15.2 19.8 8.8 14

 15 Other 111.3 -16.6 -51.8 -2.0 -1.9 -23.0 -32.0 -18.7 -8.8 -32.7 -1.4 15

 16 Municipal securities 2.4 30.3 42.6 67.8 53.8 32.7 37.7 17.4 34.5 41.0 68.5 16

 17 Corporate and foreign bonds 25.1 -98.2 2.5 -9.0 15.2 -37.4 -75.8 2.1 -82.4 6.4 2.9 17

 18 Private residential mortgage pass-through securities 6.6 -9.7 -3.1 15.3 9.9 -6.0 -3.4 -9.0 -7.4 -4.2 -6.1 18

 19 Private commercial mortgage pass-through securities 1.1 -6.4 -2.5 0.4 -1.2 -2.5 -6.5 1.8 -4.3 -0.9 -1.7 19

 20 Private residential CMOs and other structured MBS -51.6 -70.6 -22.0 -20.8 -14.6 -5.6 -19.3 17.3 -11.5 -8.7 -11.0 20

 21 Private commercial CMOs and other structured MBS -3.8 -1.4 2.7 4.1 4.6 5.4 5.9 -5.1 7.0 13.8 13.3 21

 22 Other 72.9 -10.2 27.3 -8.0 16.5 -28.8 -52.4 -2.8 -66.2 6.3 8.3 22

 23 Depository institution loans n.e.c. -285.9 -36.3 163.6 218.6 136.4 241.6 258.6 269.3 165.0 273.6 318.1 23

 24 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Mortgages -178.1 -149.2 -105.3 13.7 -26.6 117.9 176.8 184.6 30.2 79.9 291.9 25

 26 Consumer credit -64.5 -70.3 7.1 28.1 52.9 71.5 40.8 95.2 81.2 68.9 21.8 26

 27 Corporate equities 6.3 -1.8 1.0 -10.5 0.8 0.7 -2.5 -0.7 1.6 4.3 -1.7 27

 28 Mutual fund shares 14.8 -5.8 -0.8 -1.1 1.6 -0.7 8.5 5.1 -12.8 -3.6 -2.5 28

 29 Security credit -3.4 3.2 12.2 -1.9 7.9 8.2 21.9 10.6 -2.7 2.9 1.6 29

 30 Life insurance reserves 0.8 4.5 5.2 7.4 5.7 5.9 5.6 6.0 5.0 6.9 5.2 30

 31 U.S. direct investment abroad -0.8 2.7 -6.2 -2.6 3.5 5.2 -5.4 0.4 18.6 7.1 -15.6 31

 32 Miscellaneous assets 27.5 -99.7 -68.5 -9.7 -7.8 -8.5 145.0 131.3 -111.2 -199.3 204.0 32

 33 Net increase in liabilities -375.7 -250.1 370.0 536.7 628.3 963.6 1258.3 1151.0 607.6 837.3 1418.9 33

 34 Net interbank liabilities -496.4 -201.3 -263.4 -114.2 191.0 47.7 202.1 40.5 135.9 -187.7 379.6 34

 35 Federal Reserve float -0.6 0.7 0.8 0.1 -0.5 0.4 1.7 0.1 -1.6 1.4 -0.8 35

 36 Borrowing from Federal Reserve banks -463.1 -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 36

 37 To domestic banking 7.5 -16.8 40.8 -29.5 38.5 -45.3 147.3 -2.1 -157.5 -168.6 247.7 37

 38 To foreign banks -40.2 -88.8 -304.9 -84.8 153.0 92.5 53.4 42.0 294.3 -19.8 133.0 38

 39 Checkable deposits 94.0 69.6 319.4 176.2 148.2 136.2 126.3 474.1 43.3 -98.7 142.4 39

 40 Federal government 0.3 -0.1 -2.7 0.3 0.3 0.9 -0.5 1.0 1.9 1.2 -1.1 40

 41 Private domestic 122.4 73.5 296.5 180.1 148.6 133.1 120.1 459.6 56.0 -103.1 148.8 41

 42 Rest of the world -28.7 -3.8 25.6 -4.2 -0.7 2.2 6.7 13.5 -14.7 3.3 -5.4 42

 43 Small time and savings deposits 472.3 271.7 537.1 491.5 256.7 343.8 543.0 303.3 415.5 113.5 878.0 43

 44 Large time deposits -335.7 -133.8 -13.2 -9.1 23.9 102.5 -7.9 44.8 -373.3 746.3 28.0 44

 45 Federal funds and security repos -195.0 -48.1 -81.5 -52.6 -80.5 -33.2 55.5 -45.3 -88.0 -55.0 -30.0 45

 46 Credit market instruments -292.2 -217.6 -50.5 -110.8 -33.5 35.1 -25.8 106.3 35.8 24.0 -136.2 46

 47 Open market paper 0.1 -20.1 7.6 -33.1 -27.8 -5.2 -5.2 -9.6 -5.0 -0.9 -21.9 47

 48 Corporate bonds -28.5 -49.2 2.4 -82.3 -74.9 -12.0 -27.2 -10.1 -11.9 1.0 -57.5 48

 49 Other loans and advances -263.9 -148.3 -60.5 4.6 69.2 52.3 6.7 126.0 52.7 23.8 -56.8 49

 50 Corporate equity issues 11.6 11.9 6.4 1.6 2.2 2.7 2.5 4.3 2.8 1.2 24.0 50

 51 Taxes payable (net) 7.3 6.6 10.6 7.0 0.1 15.2 31.1 29.0 -11.6 12.3 19.1 51

 52 Miscellaneous liabilities 358.2 -8.9 -94.9 147.1 120.1 313.6 331.5 194.0 447.2 281.5 114.0 52

 53 Investment by holding companies 166.8 33.4 76.1 101.2 59.2 191.0 165.8 206.4 114.4 277.5 -86.0 53

 54 Other 191.5 -42.3 -171.0 45.9 60.9 122.5 165.7 -12.5 332.8 4.0 200.1 54

 55 Discrepancy 169.4 157.4 90.0 42.8 -29.1 53.0 194.0 46.3 -187.8 159.4 -90.8 55

 Memo:

 56 Consumer leases not included above (2) -2.6 -0.8 -0.1 0.4 1.5 0.7 0.7 0.9 1.1 0.1 0.1 56

(1) Net capital transfers paid from table F.9, line 54.

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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30 Z.1, June 11, 2015

F.112 Foreign Banking Offices in U.S. (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 2.3 2.3 2.9 3.3 4.1 4.2 4.1 4.2 4.2 4.2 4.3 1

 2 Fixed nonresidential investment 2.4 2.0 2.4 3.0 3.8 4.1 3.9 4.0 4.1 4.2 4.1 2

 3 Net acquisition of financial assets -251.1 50.3 468.1 -15.8 316.5 56.3 705.1 154.6 57.1 -691.4 -56.0 3

 4 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.1 -0.1 0.1 -0.2 4

 5 Reserves at Federal Reserve 45.1 66.7 360.2 -72.2 309.3 -59.3 491.9 -9.7 76.7 -796.0 -65.8 5

 6 Federal funds and security repos 0.1 20.3 31.7 58.2 -1.2 41.1 92.7 111.7 -37.8 -2.5 -73.4 6

 7 Credit market instruments -287.5 -24.4 42.5 5.8 -7.2 56.4 67.0 54.6 -3.0 106.9 65.7 7

 8 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities 22.0 3.5 -0.5 16.1 -9.6 -10.5 -2.9 -3.0 -20.7 -15.5 -3.2 9

 10 Agency- and GSE-backed securities -19.3 -4.8 4.0 1.5 -6.7 -4.9 -11.5 -6.3 -1.9 0.1 -4.7 10

 11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds -157.8 -9.4 -1.4 -6.2 -34.1 0.9 16.6 1.2 -7.7 -6.4 -25.9 12

 13 Depository institution loans n.e.c. -126.0 -11.3 42.9 -3.7 43.8 63.6 57.1 54.9 22.1 120.4 100.2 13

 14 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Mortgages -6.4 -2.5 -2.6 -1.9 -0.6 7.3 7.8 7.8 5.1 8.3 -0.6 15

 16 Corporate equities 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Security credit -4.5 3.1 18.8 -7.3 2.5 3.8 -2.9 -5.9 12.5 11.4 -0.2 17

 18 Miscellaneous assets -4.4 -15.3 15.0 -0.3 13.1 14.4 56.3 3.7 8.8 -11.3 17.8 18

 19 Net increase in liabilities -76.0 32.4 469.0 -4.0 263.2 1.4 574.5 158.1 -11.8 -715.1 -33.1 19

 20 Net interbank liabilities -152.2 30.7 504.6 -1.9 175.1 -127.5 165.6 36.6 -214.3 -497.9 -51.5 20

 21 To foreign banks -161.7 27.0 518.8 -51.2 159.2 -125.6 156.1 64.0 -232.5 -490.1 -70.0 21

 22 To domestic banks 9.5 3.7 -14.2 49.3 15.9 -1.9 9.5 -27.4 18.2 -7.8 18.5 22

 23 Checkable deposits 2.6 5.7 23.7 16.2 30.8 45.2 36.3 50.0 -0.0 94.4 25.6 23

 24 Small time and savings deposits 4.4 5.8 13.2 13.8 27.7 -5.9 -23.4 11.1 9.4 -20.5 167.5 24

 25 Large time deposits 148.0 -46.5 -163.1 -16.2 71.1 39.7 233.4 26.3 91.3 -192.2 -167.3 25

 26 Federal funds and security repos 63.5 54.8 54.4 20.6 -12.3 58.6 153.2 44.9 44.9 -8.8 -21.5 26

 27 Acceptance liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Foreign direct investment in U.S. 16.6 12.4 26.0 -0.8 4.0 3.1 3.7 2.7 -6.1 12.1 2.8 28

 29 Miscellaneous liabilities -158.9 -30.5 10.1 -35.7 -33.2 -11.7 5.7 -13.6 63.2 -102.2 11.4 29

 30 Investment by funding corporations -73.5 -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 30

 31 Other -85.3 1.1 43.8 -23.9 -30.7 8.6 4.2 -1.4 35.0 -3.7 39.3 31

 32 Discrepancy 175.1 -17.6 1.4 12.2 -53.0 -54.8 -130.4 3.6 -68.8 -23.6 23.1 32

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).
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F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets -7.3 -14.8 -4.1 0.0 8.8 7.3 -12.8 9.9 -11.8 43.7 -24.5 3

 4 Credit market instruments -2.8 -19.3 -4.9 -0.1 0.3 -5.6 -0.3 -10.3 -7.0 -4.6 -16.3 4

 5 Treasury securities -0.7 0.6 -0.0 -0.6 0.7 0.2 0.6 -1.9 1.7 0.3 0.6 5

 6 Agency- and GSE-backed securities -3.9 -7.7 -8.0 -2.2 -0.8 -0.1 -0.4 0.1 -0.0 -0.2 -1.0 6

 7 Municipal securities 0.9 -0.9 0.9 -0.8 0.9 -0.9 -0.6 -2.8 -0.3 0.3 0.2 7

 8 Corporate and foreign bonds 1.5 -1.4 3.6 1.0 0.6 -0.4 2.5 -0.6 -2.3 -1.4 0.1 8

 9 Depository institution loans n.e.c. -0.3 -3.3 1.1 1.0 1.3 -2.3 -0.6 -4.4 -2.8 -1.3 -5.7 9

 10 Home mortgages -0.3 -2.5 -2.4 2.3 -1.1 -1.5 -2.2 -0.3 -2.7 -1.0 -3.6 10

 11 Commercial mortgages -0.0 -4.0 -0.1 -0.8 -1.4 -0.5 0.4 -0.5 -0.6 -1.3 -6.7 11

 12 Miscellaneous assets -4.5 4.5 0.8 0.2 8.6 12.8 -12.5 20.3 -4.8 48.4 -8.2 12

 13 Net increase in liabilities -1.1 -14.8 -3.1 -0.1 8.5 7.1 -10.1 11.2 -14.8 41.9 -21.2 13

 14 Net interbank liabilities -1.0 0.9 -1.2 -0.4 0.2 -0.6 -3.2 -1.4 2.6 -0.5 -1.7 14

 15 Checkable deposits 1.4 0.5 2.8 2.5 6.3 5.2 -3.5 5.2 -3.3 22.5 -1.7 15

 16 Small time and savings deposits -2.9 -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 16

 17 Large time deposits -2.9 -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 17

 18 Miscellaneous liabilities 4.3 -5.9 -3.9 -2.0 -3.0 -1.6 2.1 1.7 -10.5 0.2 -3.4 18

 19 Discrepancy 6.2 -0.0 1.0 -0.1 -0.3 -0.2 2.8 1.2 -3.0 -1.8 3.3 19

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

F.114 Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 6.4 8.4 10.1 12.0 11.8 7.2 6.5 7.2 7.5 7.5 7.3 1

 2 Fixed nonresidential investment 3.1 2.5 2.5 2.8 3.0 3.2 3.1 3.2 3.3 3.3 3.3 2

 3 Net acquisition of financial assets 61.0 76.0 53.8 43.3 33.2 63.0 103.9 42.0 43.2 62.7 99.5 3

 4 Reserves at Federal Reserve 27.5 10.0 11.1 1.2 -5.7 -2.5 55.5 -58.1 -33.9 26.6 55.6 4

 5 Federal funds and security repos 0.0 -0.1 15.9 -6.2 -9.6 -0.0 6.7 4.1 0.9 -11.8 7.1 5

 6 Credit market instruments 34.1 24.9 38.6 47.0 50.2 60.2 48.5 75.6 82.0 34.8 52.2 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 5.4 5.9 -2.5 1.7 -0.2 2.5 5.2 3.6 19.7 -18.6 2.6 8

 9 Agency- and GSE-backed securities 27.8 40.9 30.6 14.9 2.2 -11.7 -15.3 -4.4 -10.4 -16.7 -20.7 9

 10 Municipal securities 0.0 0.0 3.2 1.0 0.3 -0.8 -0.1 1.6 0.2 -4.8 0.6 10

 11 Corporate and foreign bonds -6.7 -15.7 -0.3 0.3 2.2 1.0 2.6 0.2 -3.0 4.3 5.1 11

 12 Depository institution loans n.e.c. 1.3 3.5 6.6 0.1 5.1 5.1 1.2 1.8 11.1 6.3 6.6 12

 13 Home mortgages 5.4 0.9 4.5 8.3 18.6 26.9 22.4 25.7 34.8 24.4 18.4 13

 14 Consumer credit 0.9 -10.7 -3.4 20.6 21.9 37.2 32.4 47.1 29.5 39.8 39.6 14

 15 Mutual fund shares -0.7 0.2 0.3 0.4 -0.1 -0.1 0.1 -0.2 -0.3 0.1 -0.4 15

 16 Miscellaneous assets 0.2 41.1 -12.1 0.8 -1.6 5.3 -6.8 20.5 -5.5 13.0 -14.9 16

 17 Net increase in liabilities 70.3 63.8 19.0 38.8 38.2 51.5 81.5 24.2 38.2 62.0 77.6 17

 18 Net interbank liabilities -1.6 38.1 -21.9 -13.8 2.2 0.7 35.9 -24.6 -2.6 -6.1 34.1 18

 19 Shares/deposits 72.0 34.3 41.5 51.3 32.6 41.2 49.7 24.8 27.6 62.6 41.9 19

 20 Checkable 11.6 5.5 10.7 10.7 7.9 12.2 40.7 -9.3 -4.5 21.9 41.5 20

 21 Small time and savings 43.4 26.1 27.4 34.4 20.1 25.0 0.5 38.4 26.5 34.4 -7.3 21

 22 Large time 17.0 2.8 3.4 6.2 4.7 4.1 8.5 -4.3 5.6 6.3 7.7 22

 23 Federal funds and security repos -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 23

 24 Other loans and advances -14.1 -0.4 -2.0 0.9 1.9 8.4 1.7 10.2 12.7 9.0 -2.0 24

 25 Miscellaneous liabilities 14.7 -8.3 1.3 0.3 1.5 1.2 -5.8 13.8 0.4 -3.6 3.5 25

 26 Discrepancy 12.6 -6.4 -27.2 4.8 13.8 -7.5 -19.0 -13.8 -0.8 3.5 -18.0 26
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F.115 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (1) 41.0 51.3 31.2 47.8 51.2 46.9 51.3 49.1 46.4 40.8 35.1 1

 2 Fixed nonresidential investment 18.8 15.8 16.7 19.1 19.8 20.8 20.2 20.6 21.1 21.1 21.3 2

 3 Net acquisition of financial assets 40.1 -38.2 26.7 27.0 44.0 34.5 15.8 34.1 57.7 30.5 14.2 3

 4 Checkable deposits and currency -0.3 5.0 -8.5 12.3 -6.7 5.9 14.9 5.5 3.5 -0.4 -0.6 4

 5 Money market fund shares -3.2 -4.0 -5.6 2.2 -2.2 -1.9 -10.0 5.3 1.5 -4.3 -0.3 5

 6 Security repurchase agreements 0.1 -0.7 -2.1 0.0 0.0 0.0 -0.7 0.6 0.3 -0.2 -0.0 6

 7 Credit market instruments 33.3 3.9 36.2 1.0 30.9 15.8 -14.6 14.7 42.0 21.2 -15.1 7

 8 Open market paper -9.3 -1.9 0.9 -1.4 0.7 -0.1 -3.4 2.8 1.3 -1.2 -0.1 8

 9 Treasury securities 22.9 3.2 4.6 -6.7 6.4 5.9 -5.5 13.7 12.1 3.4 -1.8 9

 10 Agency- and GSE-backed securities 1.9 -0.4 6.9 -8.4 -4.9 -4.2 -6.2 -5.7 -1.9 -3.1 -1.9 10

 11 Municipal securities -12.6 -21.0 -17.4 -2.9 -1.7 -4.7 -10.4 -9.2 2.2 -1.6 -5.7 11

 12 Corporate and foreign bonds 30.8 24.3 40.4 19.6 28.1 17.0 9.5 11.0 26.0 21.3 -7.6 12

 13 Commercial mortgages -0.5 -0.3 0.8 0.7 2.3 2.0 1.3 2.1 2.3 2.4 1.9 13

 14 Corporate equities -2.8 -20.9 2.9 4.6 3.7 2.6 2.4 -12.6 3.7 16.8 -2.4 14

 15 Mutual fund shares 0.5 -0.1 -0.7 1.8 1.0 1.4 1.3 1.3 1.3 1.6 2.4 15

 16 Trade receivables -3.7 0.8 3.4 4.8 3.3 5.5 19.3 15.2 -2.0 -10.3 21.3 16

 17 U.S. direct investment abroad 16.3 -22.2 1.1 0.2 14.1 5.2 3.2 4.0 7.5 6.0 9.1 17

 18 Net increase in liabilities -4.3 2.9 16.8 -16.7 19.5 1.8 -7.9 20.2 17.6 -22.8 -15.0 18

 19 Security repurchase agreements -1.7 0.8 -1.1 0.4 1.4 1.0 1.0 1.3 0.8 0.8 0.5 19

 20 Corporate equity issues -5.3 -12.7 -10.7 -14.5 -7.6 -16.9 -17.9 -9.4 -22.2 -17.9 -15.6 20

 21 Taxes payable (net) 5.3 5.6 -4.4 3.8 19.1 1.9 7.3 -2.8 3.0 0.4 1.4 21

 22 Foreign direct investment in U.S. 2.4 2.8 -2.2 -5.3 6.8 0.9 -2.1 -3.1 9.3 -0.2 9.9 22

 23 Miscellaneous liabilities -5.0 6.3 35.2 -1.0 -0.3 14.8 3.8 34.3 26.8 -5.8 -11.2 23

 24 Investment by parent companies 0.0 0.0 0.0 -6.8 -6.0 0.1 -2.2 1.9 -0.2 0.9 -5.5 24

 25 Policy payables -5.0 6.3 35.2 5.8 5.7 14.7 6.0 32.4 27.1 -6.6 -5.6 25

 26 Discrepancy -22.2 76.6 4.6 -15.0 6.8 -6.6 7.4 14.6 -14.8 -33.6 -15.5 26

(1) Net capital transfers paid from table F.9, line 51.
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F.116 Life Insurance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 13.0 16.2 7.2 12.6 7.6 17.7 16.9 17.5 18.3 18.1 18.3 1

 2 Fixed nonresidential investment 13.5 11.5 12.3 14.0 14.6 15.3 14.9 15.2 15.5 15.6 15.8 2

 3 Net acquisition of financial assets 116.4 181.5 229.0 127.0 102.7 213.4 225.7 244.8 143.6 239.5 276.3 3

 4 Checkable deposits and currency -32.1 1.0 2.0 2.7 -9.2 3.6 14.0 -5.9 15.1 -8.5 -2.2 4

 5 Money market fund shares -5.5 -12.7 7.9 -1.4 -5.9 6.1 -1.1 -1.2 6.4 20.5 -4.5 5

 6 Security repurchase agreements 2.2 0.7 -0.8 -1.6 -0.0 0.0 -2.5 -2.3 0.3 4.5 -5.5 6

 7 Credit market instruments 139.8 151.6 125.3 74.3 77.4 99.7 117.7 128.9 76.9 75.3 142.2 7

 8 Open market paper 11.5 -8.9 -11.2 13.9 3.2 -4.6 -3.2 -16.9 -18.4 20.2 14.6 8

 9 Treasury securities 27.7 23.2 18.8 5.5 -12.2 14.3 13.4 13.8 13.6 16.2 41.5 9

 10 Agency- and GSE-backed securities 5.8 4.0 -1.6 -13.5 -6.8 -15.0 -12.5 -10.1 -15.8 -21.5 -2.1 10

 11 Municipal securities 26.1 39.2 9.4 9.7 10.1 6.2 5.1 9.6 6.8 3.3 1.3 11

 12 Corporate and foreign bonds 97.6 102.9 87.1 45.0 60.8 69.3 92.7 109.9 63.2 11.3 65.0 12

 13 Other loans and advances -12.6 -0.2 7.9 1.8 3.5 8.0 8.0 5.5 10.4 7.9 -3.4 13

 14 Mortgages -16.3 -8.6 15.0 11.9 18.8 21.6 14.2 17.1 17.0 38.0 25.3 14

 15 Corporate equities 33.4 12.7 33.2 16.1 13.7 28.1 29.7 70.7 2.5 9.4 44.1 15

 16 Mutual fund shares 0.0 33.9 5.6 0.4 1.1 1.3 1.3 1.3 1.3 1.3 1.3 16

 17 U.S. direct investment abroad 1.6 1.9 3.3 5.2 1.2 1.6 -0.3 -1.8 4.5 3.9 8.1 17

 18 Miscellaneous assets -23.1 -7.6 52.4 31.2 24.4 73.0 67.0 55.1 36.7 133.1 92.8 18

 19 Equity in FHLB -0.3 -0.0 -0.8 0.1 1.0 0.4 0.2 0.6 0.4 0.2 0.8 19

 20 Deferred and unpaid life ins. premiums -4.9 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 20

 21 Other -17.8 -10.2 53.6 30.6 20.4 71.4 62.6 49.2 39.0 134.9 87.4 21

 22 Net increase in liabilities 32.2 145.0 203.7 90.4 87.1 174.4 182.9 214.7 119.2 180.8 244.4 22

 23 Security repurchase agreements -0.5 -2.2 0.1 3.1 -0.8 1.0 0.8 -0.5 1.9 1.9 3.3 23

 24 Corporate equity issues -0.9 -4.8 -11.5 -9.9 -9.2 -14.9 -14.3 -11.8 -17.6 -16.0 -10.9 24

 25 Other loans and advances -6.6 -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 25

 26 Life insurance reserves 26.3 13.6 79.9 -12.2 29.8 55.5 41.8 52.1 55.0 73.1 89.1 26

 27 Pension entitlements (2) -80.0 72.1 85.7 80.5 53.8 70.9 52.5 55.2 88.9 87.0 44.9 27

 28 Taxes payable (net) -7.0 2.6 5.2 -4.6 -2.3 -1.9 5.0 -1.0 -3.4 -8.3 10.0 28

 29 Foreign direct investment in U.S. 11.1 6.3 -5.4 1.4 5.1 8.9 5.8 9.2 15.5 5.2 12.5 29

 30 Miscellaneous liabilities 89.9 60.7 48.0 27.4 3.0 42.4 83.7 103.4 -35.0 17.6 81.1 30

 31 Investment by parent companies 9.3 22.2 9.3 10.3 3.4 0.8 0.9 2.3 -0.3 0.2 1.1 31

 32 Other reserves (3) 8.4 17.1 14.8 -1.8 0.4 5.8 15.0 12.7 1.7 -6.2 13.9 32

 33 Unallocated insurance contracts 114.3 13.9 9.9 -1.9 1.3 23.1 27.6 35.0 3.2 26.4 27.0 33

 34 Other -42.1 7.4 14.0 20.7 -2.1 12.8 40.1 53.3 -39.6 -2.7 39.1 34

 35 Discrepancy -84.7 -31.8 -30.3 -38.0 -22.5 -36.6 -40.8 -27.8 -21.7 -56.3 -29.3 35

(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) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 33.

(3) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
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F.116.g Life Insurance Companies: General Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 92.1 126.9 176.4 56.5 84.6 155.6 200.8 89.8 120.7 211.0 -78.3 1

 2 Checkable deposits and currency -27.4 -2.0 3.0 1.4 -4.8 3.5 13.8 -6.1 14.9 -8.7 -4.1 2

 3 Money market fund shares -5.5 -12.7 7.9 -1.4 -5.9 6.1 -1.1 -1.2 6.4 20.5 -4.5 3

 4 Security repurchase agreements 2.2 0.7 -0.8 -1.6 -0.0 0.0 -2.5 -2.3 0.3 4.5 -5.5 4

 5 Credit market instruments 139.0 111.7 122.4 37.9 70.1 99.2 118.0 129.1 77.0 72.6 -71.0 5

 6 Open market paper 15.5 -12.0 -12.6 15.9 1.4 -6.0 -4.6 -18.4 -19.9 18.7 11.4 6

 7 Treasury securities 26.1 15.2 10.3 1.3 -11.3 9.1 8.6 9.0 8.8 10.0 5.9 7

 8 Agency- and GSE-backed securities 2.7 -5.6 -1.5 -4.9 -6.6 -3.3 -0.6 1.8 -3.9 -10.7 -15.4 8

 9 Municipal securities 25.9 39.5 9.2 9.0 9.2 5.3 4.2 8.7 5.9 2.4 -2.9 9

 10 Corporate and foreign bonds 93.4 83.4 93.3 1.6 57.0 66.0 89.5 106.7 60.0 7.8 -40.0 10

 11 Other loans and advances -12.6 -0.2 7.9 1.9 3.5 8.0 8.0 5.5 10.4 7.9 -22.6 11

 12 Mortgages -12.0 -8.6 15.8 13.1 16.9 20.2 12.8 15.7 15.6 36.5 -7.4 12

 13 Corporate equities 1.5 4.0 0.3 -2.5 0.8 5.5 2.7 8.7 1.3 9.2 3.8 13

 14 Mutual fund shares -0.1 -0.1 0.7 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S. direct investment abroad 1.6 1.9 3.3 5.2 1.2 1.6 -0.3 -1.8 4.5 3.9 8.1 15

 16 Miscellaneous assets -19.2 23.4 39.7 17.3 23.4 39.7 70.2 -36.6 16.3 108.9 -5.1 16

 17 Net increase in liabilities 12.4 91.2 151.2 17.8 68.7 116.0 157.3 58.9 96.3 151.6 -110.2 17

 18 Security repurchase agreements -0.5 -2.2 0.1 3.1 -0.8 1.0 0.8 -0.5 1.9 1.9 3.3 18

 19 Corporate equity issues -0.9 -4.8 -11.5 -9.9 -9.2 -14.9 -14.3 -11.8 -17.6 -16.0 -10.9 19

 20 Other loans and advances -6.6 -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 20

 21 Life insurance reserves 36.8 32.0 73.0 -6.2 28.3 46.1 32.4 42.7 45.6 63.8 -58.1 21

 22 Pension entitlements (1) -123.1 21.0 36.4 9.7 36.9 37.6 17.1 24.9 56.1 52.2 -99.0 22

 23 Taxes payable (net) -7.0 2.6 5.2 -4.6 -2.3 -1.9 5.0 -1.0 -3.4 -8.3 10.0 23

 24 Foreign direct investment in U.S. 11.1 6.3 -5.4 1.4 5.1 8.9 5.8 9.2 15.5 5.2 12.5 24

 25 Miscellaneous liabilities 102.7 39.5 51.6 19.5 2.8 26.7 102.8 -12.7 -15.7 32.5 17.6 25

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 25).

F.116.s Life Insurance Companies: Separate Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 24.3 54.6 52.6 70.5 18.1 57.8 24.9 155.0 23.0 28.5 354.6 1

 2 Checkable deposits and currency -4.7 3.0 -0.9 1.3 -4.4 0.2 0.2 0.2 0.2 0.2 1.9 2

 3 Credit market instruments 0.8 39.9 3.0 36.4 7.3 0.5 -0.3 -0.2 -0.1 2.7 213.3 3

 4 Open market paper -4.0 3.1 1.4 -2.0 1.8 1.5 1.4 1.5 1.5 1.5 3.2 4

 5 Treasury securities 1.6 8.0 8.5 4.2 -0.9 5.2 4.8 4.8 4.8 6.1 35.5 5

 6 Agency- and GSE-backed securities 3.1 9.6 -0.0 -8.5 -0.2 -11.7 -11.9 -11.9 -11.9 -10.9 13.4 6

 7 Municipal securities 0.2 -0.3 0.2 0.7 0.9 0.9 0.9 0.9 0.9 0.9 4.3 7

 8 Corporate and foreign bonds 4.2 19.5 -6.2 43.3 3.8 3.3 3.2 3.2 3.2 3.5 104.9 8

 9 Other loans and advances -0.0 -0.0 -0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 19.2 9

 10 Mortgages -4.3 -0.0 -0.8 -1.1 1.9 1.4 1.3 1.4 1.4 1.5 32.8 10

 11 Corporate equities 31.9 8.6 32.9 18.6 12.9 22.6 27.0 62.0 1.2 0.2 40.3 11

 12 Mutual fund shares 0.1 34.0 4.9 0.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 12

 13 Miscellaneous assets -3.8 -31.0 12.7 13.9 1.0 33.3 -3.3 91.7 20.4 24.2 97.9 13

 14 Net increase in liabilities 19.8 53.8 52.5 72.7 18.5 58.4 25.6 155.8 22.9 29.2 354.6 14

 15 Life insurance reserves -10.5 -18.4 6.9 -5.9 1.4 9.4 9.4 9.4 9.4 9.4 147.2 15

 16 Pension entitlements (1) 43.1 51.0 49.2 70.8 16.8 33.3 35.4 30.4 32.8 34.7 143.9 16

 17 Miscellaneous liabilities -12.8 21.1 -3.6 7.8 0.2 15.7 -19.1 116.1 -19.2 -14.9 63.5 17

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 17).
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F.117 Private and Public Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 2

 3 Net acquisition of financial assets (2) 478.2 524.4 412.7 416.9 444.7 477.4 464.0 497.8 449.6 498.2 473.4 3

 4 Checkable deposits and currency -3.1 2.7 5.9 -1.6 0.1 1.6 1.0 6.3 0.2 -1.1 2.1 4

 5 Time and savings deposits 3.8 4.7 3.2 -6.8 1.5 2.6 0.5 2.0 -1.0 8.9 7.3 5

 6 Money market fund shares -13.0 -7.9 16.9 -20.5 4.8 1.6 -8.6 11.7 -10.8 14.4 -4.1 6

 7 Security repurchase agreements 0.1 0.1 0.1 -0.6 0.1 0.3 0.1 0.2 -0.1 1.0 0.8 7

 8 Credit market instruments -66.1 153.8 106.6 165.3 139.6 85.1 16.2 123.8 149.5 50.9 -183.0 8

 9 Open market paper 0.9 2.5 3.9 -8.2 -1.0 3.6 5.2 0.6 1.3 7.1 14.1 9

 10 Treasury securities 64.9 52.0 59.6 69.4 61.5 46.4 30.2 31.1 56.2 68.2 -159.8 10

 11 Agency- and GSE-backed securities -10.3 8.0 16.0 35.1 20.6 -6.3 -10.6 25.3 3.7 -43.7 -44.8 11

 12 Corporate and foreign bonds -116.6 88.2 32.8 68.6 61.8 41.8 -5.6 63.2 84.6 25.2 12.1 12

 13 Mortgages -5.2 2.4 -5.2 0.1 -4.1 0.3 -1.5 4.5 4.3 -6.1 -4.5 13

 14 Corporate equities -80.9 -50.5 -124.7 -100.0 -153.3 -177.7 -167.8 -177.0 -191.6 -174.4 -202.7 14

 15 Mutual fund shares 50.4 21.6 -56.9 -46.6 42.8 4.8 15.5 2.2 8.3 -6.7 17.5 15

 16 Miscellaneous assets 587.1 399.9 461.5 427.7 409.2 559.1 607.2 528.7 495.2 605.2 835.6 16

 17 Unallocated insurance contracts (3) 114.3 13.9 9.9 -1.9 1.3 23.1 27.6 35.0 3.2 26.4 27.0 17

 18 Contributions receivable -8.6 15.4 3.0 -12.3 -0.6 0.9 -0.8 1.9 3.6 -1.2 6.6 18

 19 Nonmarketable Treasury securities (4) 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 19

 20 Claims of pension fund on sponsor (5) 402.3 275.0 333.1 370.2 279.1 413.1 432.0 362.2 367.4 490.9 849.0 20

 21 Other 17.2 29.9 44.8 31.3 31.2 53.2 73.6 76.9 40.9 21.3 24.5 21

 22 Pension entitlements (liabilities) (6) 478.2 524.3 412.6 417.1 444.9 477.6 464.2 498.1 449.9 498.4 473.6 22

 Memo:

 23 Household retirement assets (7) 610.1 790.4 864.0 736.3 709.2 761.0 725.3 877.2 902.6 538.7 ND 23

 24 Defined benefit plans 348.8 352.4 351.9 321.8 311.5 327.1 326.6 327.3 326.9 327.6 326.7 24

 25 Defined contribution plans 129.4 172.0 60.8 95.1 133.3 150.3 137.4 170.5 122.8 170.5 146.8 25

 26 Individual retirement plans (IRAs) (8) 207.0 213.4 380.0 261.0 229.9 240.5 223.6 345.8 365.8 26.8 ND 26

 27 Annuities at life insurance companies (9) -75.1 52.6 71.2 58.4 34.5 43.1 37.8 33.6 87.1 13.7 ND 27

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

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

 and foreign service retirement and disability fund.

(5) Unfunded defined benefit pension entitlements.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(8) IRA assets are not included above. See memo item on table F.226 for a sectoral distribution of IRA accounts.

(9) Annuities held in IRAs at life insurance companies are excluded. They are included in line 26.
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36 Z.1, June 11, 2015

F.118 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets (2) 153.7 177.9 95.7 114.0 127.8 135.0 126.2 161.8 107.2 144.8 147.4 3

 4 Checkable deposits and currency -2.8 2.1 5.6 -1.7 0.1 1.2 1.0 3.4 0.1 0.1 1.5 4

 5 Time and savings deposits 2.9 -0.6 1.6 -3.9 -0.3 1.0 1.8 3.0 -1.2 0.2 2.8 5

 6 Money market fund shares -9.6 -10.2 16.5 -17.1 2.2 -0.7 -6.1 11.4 -8.3 0.3 -7.0 6

 7 Security repurchase agreements 0.2 -0.2 0.0 -0.3 -0.1 0.1 0.2 0.3 -0.1 0.1 0.3 7

 8 Credit market instruments 9.5 120.6 73.6 146.6 50.7 33.1 -8.2 78.8 45.5 16.3 51.1 8

 9 Open market paper 1.7 -2.0 2.4 -4.9 -3.3 1.8 4.1 2.7 -0.2 0.5 5.8 9

 10 Treasury securities 32.8 31.2 27.0 44.4 36.4 19.6 14.8 18.6 25.5 19.3 42.6 10

 11 Agency- and GSE-backed securities -6.5 6.5 4.3 22.1 15.4 -1.1 -5.4 16.4 -6.7 -8.4 -4.5 11

 12 Corporate and foreign bonds -16.0 82.1 44.5 83.8 5.5 13.0 -18.8 37.7 23.0 10.2 10.4 12

 13 Mortgages -2.4 2.8 -4.6 1.2 -3.4 -0.2 -2.9 3.5 4.0 -5.3 -3.1 13

 14 Corporate equities -91.2 22.7 -60.2 -18.5 4.2 -6.8 16.3 2.2 -27.3 -18.6 -20.3 14

 15 Mutual fund shares 51.7 35.0 8.3 -26.2 31.9 21.0 28.0 22.9 22.0 10.9 27.6 15

 16 Miscellaneous assets 192.9 8.6 50.2 35.2 39.0 86.2 93.1 39.7 76.5 135.4 91.4 16

 17 Unallocated insurance contracts (3) 90.9 -0.3 20.7 5.0 7.5 17.8 23.1 22.1 6.9 19.0 19.6 17

 18 Contributions receivable -8.6 15.4 3.0 -12.3 -0.6 0.9 -0.8 1.9 3.6 -1.2 6.6 18

 19 Claims of pension fund on sponsor (4) 82.8 -20.7 -16.8 8.4 12.1 23.1 8.2 -47.1 31.9 99.3 33.1 19

 20 Other 27.8 14.2 43.4 34.1 20.0 44.5 62.6 62.8 34.1 18.3 32.1 20

 21 Pension entitlements (liabilities) (5) 153.7 177.9 95.6 114.0 127.8 135.1 126.3 161.8 107.2 144.9 147.5 21

 Memo:

 Net acquisition of financial assets (6)

 22 Defined benefit plans 57.4 47.5 46.6 24.8 18.8 30.8 30.8 30.8 30.8 30.8 30.8 22

 23 Defined contribution plans 96.4 130.4 49.0 89.2 109.0 104.2 95.4 131.0 76.4 114.0 116.6 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.118.b and F.118.c.
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Z.1, June 11, 2015 37

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (1) 57.4 47.5 46.6 24.8 18.8 30.8 30.8 30.8 30.8 30.8 30.8 1

 2 Checkable deposits and currency -2.6 2.7 1.8 -1.0 -0.2 0.4 0.6 0.9 -0.4 0.5 1.0 2

 3 Time and savings deposits 3.4 -0.2 1.2 -3.3 -0.7 0.8 1.8 2.9 -1.3 -0.2 3.0 3

 4 Money market fund shares 0.4 -5.1 -0.3 -4.0 -0.8 -0.2 -0.7 3.3 -1.5 -2.0 -2.0 4

 5 Security repurchase agreements 0.2 -0.2 0.0 -0.3 -0.1 0.1 0.2 0.3 -0.1 0.1 0.3 5

 6 Credit market instruments 4.1 71.7 78.0 83.8 35.2 20.7 -3.7 65.8 19.1 1.5 33.6 6

 7 Open market paper 3.2 -1.0 1.1 -3.6 -3.8 1.3 2.2 2.8 -1.3 1.3 2.9 7

 8 Treasury securities 12.7 7.4 19.3 15.9 24.8 11.9 10.1 14.6 16.6 6.2 26.3 8

 9 Agency- and GSE-backed securities -6.6 2.7 14.3 11.0 9.8 0.8 -1.1 12.4 -4.1 -4.1 -0.9 9

 10 Corporate and foreign bonds -3.3 61.4 45.8 60.7 6.9 6.9 -13.0 33.5 5.8 1.5 6.6 10

 11 Mortgages -2.0 1.2 -2.4 -0.1 -2.4 -0.2 -1.9 2.6 2.0 -3.4 -1.4 11

 12 Corporate equities -41.8 -4.1 -65.4 -11.0 -21.7 -22.0 -4.8 -22.6 -24.4 -36.1 -36.9 12

 13 Mutual fund shares -8.0 -10.8 12.5 -46.4 -7.9 -11.1 -1.6 -13.3 -8.4 -21.0 -16.2 13

 14 Miscellaneous assets 101.8 -6.2 18.8 7.1 14.9 42.0 39.1 -6.6 47.8 87.8 48.1 14

 15 Unallocated insurance contracts (2) -2.4 -8.2 12.7 -9.5 -0.3 2.3 1.2 4.8 4.5 -1.5 2.8 15

 16 Contributions receivable -5.3 13.4 1.7 -12.4 -0.8 -0.3 -0.2 2.1 -0.5 -2.4 5.0 16

 17 Claims of pension fund on sponsor (3) 82.8 -20.7 -16.8 8.4 12.1 23.1 8.2 -47.1 31.9 99.3 33.1 17

 18 Other 26.8 9.3 21.2 20.6 4.0 17.0 29.9 33.6 12.0 -7.6 7.2 18

 19 Net increase in pension entitlements (liabilities) (4) 57.3 47.5 46.6 24.9 18.8 30.8 30.8 30.8 30.8 30.8 30.8 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

F.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 96.4 130.4 49.0 89.2 109.0 104.2 95.4 131.0 76.4 114.0 116.6 1

 2 Checkable deposits and currency -0.1 -0.5 3.8 -0.7 0.4 0.8 0.5 2.5 0.5 -0.3 0.5 2

 3 Time and savings deposits -0.5 -0.4 0.4 -0.6 0.4 0.2 0.0 0.2 0.1 0.4 -0.2 3

 4 Money market fund shares -9.9 -5.1 16.8 -13.1 2.9 -0.5 -5.4 8.1 -6.7 2.2 -5.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 5.4 48.9 -4.4 62.8 15.4 12.4 -4.5 13.0 26.4 14.7 17.6 6

 7 Open market paper -1.4 -1.0 1.4 -1.2 0.5 0.5 2.0 -0.1 1.0 -0.8 2.9 7

 8 Treasury securities 20.0 23.9 7.7 28.4 11.7 7.7 4.8 4.0 8.9 13.1 16.3 8

 9 Agency- and GSE-backed securities 0.1 3.8 -10.0 11.2 5.6 -1.8 -4.4 4.0 -2.6 -4.3 -3.6 9

 10 Corporate and foreign bonds -12.7 20.7 -1.2 23.2 -1.4 6.1 -5.8 4.2 17.2 8.7 3.8 10

 11 Mortgages -0.5 1.6 -2.2 1.3 -1.0 -0.0 -1.0 0.9 2.0 -1.9 -1.7 11

 12 Corporate equities -49.3 26.8 5.2 -7.6 25.9 15.1 21.1 24.8 -2.9 17.5 16.7 12

 13 Mutual fund shares 59.7 45.8 -4.2 20.2 39.8 32.0 29.7 36.1 30.4 31.9 43.8 13

 14 Miscellaneous assets 91.1 14.8 31.4 28.1 24.1 44.2 54.0 46.4 28.7 47.6 43.3 14

 15 Unallocated insurance contracts (2) 93.3 7.9 8.0 14.5 7.8 15.5 21.9 17.3 2.4 20.4 16.8 15

 16 Contributions receivable -3.3 2.0 1.3 0.1 0.2 1.1 -0.6 -0.2 4.1 1.2 1.7 16

 17 Other 1.0 4.9 22.2 13.5 16.0 27.5 32.7 29.2 22.2 26.0 24.9 17

 18 Net increase in pension entitlements (liabilities) 96.4 130.4 49.0 89.2 109.0 104.2 95.4 131.0 76.4 114.0 116.6 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
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38 Z.1, June 11, 2015

F.119 Federal Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (1) 93.7 102.1 113.0 102.0 109.9 115.8 108.0 103.8 121.6 130.0 106.6 1

 2 Credit market instruments 7.4 10.9 25.6 15.4 9.4 16.9 6.1 9.4 20.6 31.6 -236.7 2

 3 Treasury securities (2) 7.4 10.1 23.4 12.1 12.4 18.0 12.1 8.3 21.1 30.7 -237.8 3

 4 Agency- and GSE-backed securities 0.0 0.6 0.7 1.5 -1.7 -0.4 -2.9 0.7 -0.1 0.6 0.0 4

 5 Corporate and foreign bonds -0.0 0.2 1.4 1.7 -1.3 -0.7 -3.1 0.4 -0.4 0.4 1.1 5

 6 Corporate equities 8.8 5.4 -4.2 -4.1 9.1 4.2 7.2 -0.3 6.3 3.7 4.9 6

 7 Miscellaneous assets 77.5 85.9 91.6 90.7 91.4 94.7 94.7 94.7 94.7 94.7 338.4 7

 8 Nonmarketable Treasury securities (3) 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 8

 9 Claims of pension fund on sponsor (4) 15.6 20.2 20.8 50.3 -6.8 25.9 19.8 42.1 14.7 26.8 409.9 9

 10 Pension entitlements (liabilities) (5) 93.7 102.1 113.0 102.0 109.9 115.8 108.0 103.8 121.6 130.0 106.6 10

 Memo:

 Net acquisition of financial assets (6)

 11 Defined benefit plans 75.5 84.2 90.0 88.6 89.9 93.2 92.7 93.4 93.0 93.8 92.8 11

 12 Defined contibution plans 18.2 18.0 23.0 13.3 20.0 22.6 15.3 10.4 28.6 36.2 13.8 12

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes nonmarketable Treasury securities held by the Thrift Savings Plan.

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.119.b and F.119.c.
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F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (2) 75.5 84.2 90.0 88.6 89.9 93.2 92.7 93.4 93.0 93.8 92.8 1

 2 Credit market instruments -0.8 -0.8 0.3 -0.0 -0.0 -0.5 -0.7 -0.4 -0.6 -0.3 0.1 2

 3 Treasury securities 0.4 -0.2 -0.3 -0.3 -0.0 -0.1 -0.2 -0.1 -0.1 -0.1 0.1 3

 4 Agency- and GSE-backed securities -0.7 -0.2 -0.2 -0.2 -0.0 -0.0 -0.1 -0.0 -0.0 -0.0 -0.5 4

 5 Corporate and foreign bonds -0.5 -0.3 0.8 0.4 0.1 -0.3 -0.5 -0.3 -0.4 -0.2 0.6 5

 6 Corporate equities -1.2 -0.9 -1.9 -2.0 -1.5 -1.0 -1.3 -0.8 -1.1 -0.6 -2.0 6

 7 Miscellaneous assets 77.5 85.9 91.6 90.7 91.4 94.7 94.7 94.7 94.7 94.7 94.7 7

 8 Nonmarketable Treasury securities (3) 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 8

 9 Claims of pension fund on sponsor (4) 15.6 20.2 20.8 50.3 -6.8 25.9 19.8 42.1 14.7 26.8 166.2 9

 10 Pension entitlements (liabilities) (5) 75.5 84.2 90.0 88.6 89.9 93.2 92.7 93.4 93.0 93.8 92.8 10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and

 disability fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 18.2 18.0 23.0 13.3 20.0 22.6 15.3 10.4 28.6 36.2 13.8 1

 2 Credit market instruments 8.2 11.6 25.2 15.4 9.4 17.4 6.8 9.9 21.2 31.9 -236.8 2

 3 Treasury securities (2) 7.0 10.4 23.7 12.4 12.5 18.2 12.2 8.4 21.2 30.8 -237.8 3

 4 Agency- and GSE-backed securities 0.7 0.8 0.9 1.7 -1.7 -0.4 -2.8 0.7 -0.0 0.6 0.5 4

 5 Corporate and foreign bonds 0.4 0.5 0.6 1.3 -1.4 -0.4 -2.7 0.7 -0.0 0.6 0.5 5

 6 Corporate equities 10.1 6.3 -2.3 -2.1 10.6 5.2 8.5 0.5 7.4 4.3 6.9 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 243.7 7

 8 Pension entitlements (liabilities) 18.2 18.0 23.0 13.3 20.0 22.6 15.3 10.4 28.6 36.2 13.8 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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F.120 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 2

 3 Net acquisition of financial assets (1) 230.8 244.4 204.0 201.0 207.0 226.5 229.8 232.2 220.9 223.3 219.4 3

 4 Checkable deposits and currency -0.4 0.5 0.3 0.1 -0.0 0.4 -0.1 2.9 0.1 -1.3 0.6 4

 5 Time and savings deposits 0.9 5.4 1.6 -2.8 1.8 1.6 -1.3 -1.0 0.2 8.7 4.6 5

 6 Money market fund shares -3.4 2.3 0.5 -3.4 2.6 2.3 -2.6 0.3 -2.5 14.1 2.9 6

 7 Security repurchase agreements -0.1 0.3 0.1 -0.2 0.1 0.2 -0.1 -0.1 0.0 0.8 0.5 7

 8 Credit market instruments -83.1 22.4 7.4 3.3 79.5 35.1 18.3 35.5 83.3 3.0 2.5 8

 9 Open market paper -0.9 4.5 1.5 -3.4 2.3 1.8 1.1 -2.1 1.5 6.6 8.4 9

 10 Treasury securities 24.8 10.7 9.2 12.9 12.6 8.8 3.3 4.2 9.6 18.2 35.3 10

 11 Agency- and GSE-backed securities -3.8 0.9 11.0 11.5 6.8 -4.8 -2.3 8.2 10.5 -35.8 -40.3 11

 12 Municipal securities 0.1 0.8 -0.6 0.2 0.8 -0.7 -1.5 -0.8 -0.6 0.1 -0.1 12

 13 Corporate and foreign bonds -100.5 5.9 -13.2 -16.9 57.7 29.5 16.3 25.1 62.0 14.7 0.7 13

 14 Mortgages -2.7 -0.4 -0.5 -1.1 -0.7 0.5 1.4 0.9 0.3 -0.7 -1.4 14

 15 Corporate equities 1.4 -78.6 -60.4 -77.4 -166.6 -175.1 -191.4 -178.9 -170.5 -159.5 -187.3 15

 16 Mutual fund shares -1.3 -13.4 -65.2 -20.4 10.8 -16.1 -12.5 -20.7 -13.7 -17.6 -10.2 16

 17 Miscellaneous assets 316.7 305.4 319.7 301.9 278.8 378.2 419.4 394.2 323.9 375.1 405.8 17

 18 Unallocated insurance contracts (2) 23.4 14.2 -10.7 -6.9 -6.2 5.3 4.5 12.9 -3.7 7.4 7.3 18

 19 Claims of pension fund on sponsor (3) 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 19

 20 Other -10.6 15.7 1.4 -2.9 11.2 8.7 10.9 14.1 6.8 2.9 -7.6 20

 21 Pension entitlements (liabilities) (4) 230.7 244.3 204.0 201.1 207.2 226.7 229.9 232.4 221.1 223.5 219.6 21

 Net acquisition of financial assets (5)

 22 Defined benefit plans 216.0 220.7 215.2 208.3 202.8 203.1 203.1 203.1 203.1 203.1 203.1 22

 23 Defined contibution plans 14.8 23.6 -11.2 -7.4 4.2 23.5 26.7 29.1 17.8 20.2 16.3 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Additional detail on defined benefit plans and defined contribution plans is available on tables F.120.b and F.120.c.
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Z.1, June 11, 2015 41

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (1) 216.0 220.7 215.2 208.3 202.8 203.1 203.1 203.1 203.1 203.1 203.1 1

 2 Checkable deposits and currency -0.0 0.5 0.2 -0.3 0.2 0.2 -0.1 -0.1 0.0 1.0 0.6 2

 3 Time and savings deposits 1.2 5.9 1.9 -2.5 1.5 1.8 -1.0 -0.9 0.4 8.9 5.3 3

 4 Money market fund shares -3.4 2.3 0.1 -3.0 1.8 2.2 -1.2 -1.1 0.5 10.7 6.3 4

 5 Security repurchase agreements -0.1 0.3 0.1 -0.2 0.1 0.2 -0.1 -0.1 0.0 0.8 0.5 5

 6 Credit market instruments -85.2 19.2 5.4 1.9 81.9 35.0 19.4 34.6 82.5 3.5 0.6 6

 7 Open market paper 0.5 5.7 1.8 -2.7 1.7 2.0 -1.1 -1.0 0.4 9.7 5.8 7

 8 Treasury securities 21.9 7.8 6.8 12.6 15.7 9.4 3.0 5.2 11.1 18.4 38.3 8

 9 Agency- and GSE-backed securities -3.2 1.1 11.8 12.0 7.1 -4.6 1.7 5.8 11.6 -37.4 -41.5 9

 10 Municipal securities 0.1 0.7 -0.6 -0.0 0.5 -0.8 -1.4 -0.9 -0.9 -0.0 -0.2 10

 11 Corporate and foreign bonds -101.9 4.4 -13.8 -18.9 57.7 28.5 15.9 24.6 59.9 13.4 -0.3 11

 12 Mortgages -2.7 -0.4 -0.5 -1.1 -0.7 0.5 1.4 0.9 0.3 -0.7 -1.4 12

 13 Corporate equities 17.8 -80.6 -63.1 -75.4 -178.2 -189.1 -208.9 -189.6 -190.0 -168.0 -189.1 13

 14 Mutual fund shares -7.6 -18.2 -59.8 -20.9 11.2 -19.5 -19.6 -17.8 -17.8 -22.8 -19.5 14

 15 Miscellaneous assets 293.4 291.2 330.5 308.8 284.2 372.3 414.7 378.1 327.5 368.9 398.4 15

 16 Claims of pension fund on sponsor (2) 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 16

 17 Other -10.6 15.7 1.4 -2.8 10.4 8.1 10.8 10.9 6.7 4.2 -7.6 17

 18 Pension entitlements (liabilities) (3) 215.9 220.7 215.2 208.4 202.9 203.3 203.3 203.3 203.3 203.3 203.3 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

F.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 14.8 23.6 -11.2 -7.4 4.2 23.5 26.7 29.1 17.8 20.2 16.3 1

 2 Checkable deposits and currency -0.4 0.0 0.2 0.4 -0.2 0.2 0.0 3.0 0.1 -2.3 0.0 2

 3 Time and savings deposits -0.3 -0.5 -0.4 -0.3 0.3 -0.2 -0.3 -0.1 -0.2 -0.2 -0.7 3

 4 Money market fund shares 0.0 0.0 0.4 -0.4 0.7 0.1 -1.3 1.4 -3.0 3.4 -3.4 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 2.2 3.1 2.0 1.4 -2.4 0.1 -1.1 0.9 0.8 -0.4 1.9 6

 7 Open market paper -1.4 -1.2 -0.3 -0.6 0.6 -0.2 2.2 -1.1 1.1 -3.1 2.6 7

 8 Treasury securities 2.8 2.8 2.4 0.3 -3.1 -0.6 0.3 -1.0 -1.5 -0.3 -3.0 8

 9 Agency- and GSE-backed securities -0.6 -0.2 -0.8 -0.5 -0.2 -0.3 -3.9 2.5 -1.2 1.6 1.2 9

 10 Municipal securities 0.0 0.1 0.0 0.2 0.3 0.1 -0.1 0.0 0.3 0.1 0.1 10

 11 Corporate and foreign bonds 1.3 1.6 0.7 2.0 0.0 1.1 0.5 0.5 2.1 1.2 1.0 11

 12 Corporate equities -16.4 2.0 2.7 -2.0 11.5 14.0 17.5 10.7 19.5 8.5 1.8 12

 13 Mutual fund shares 6.3 4.8 -5.4 0.5 -0.3 3.4 7.1 -2.8 4.2 5.2 9.4 13

 14 Miscellaneous assets 23.4 14.2 -10.8 -6.9 -5.4 5.9 4.6 16.1 -3.5 6.2 7.4 14

 15 Unallocated insurance contracts (2) 23.4 14.2 -10.7 -6.9 -6.2 5.3 4.5 12.9 -3.7 7.4 7.3 15

 16 Other -0.1 0.1 -0.0 -0.0 0.8 0.6 0.1 3.2 0.1 -1.2 0.0 16

 17 Pension entitlements (liabilities) 14.8 23.6 -11.2 -7.4 4.2 23.5 26.7 29.1 17.8 20.2 16.3 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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F.121 Money Market Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets -498.7 -503.2 -112.8 7.1 28.9 9.6 -86.3 -143.8 39.7 228.7 -47.5 1

 2 Foreign deposits 11.6 8.7 -62.9 0.4 -9.6 -9.6 -57.3 29.0 -13.7 3.6 0.8 2

 3 Checkable deposits and currency 10.5 -3.7 5.8 -3.6 -3.2 -17.6 49.1 -9.1 -93.6 -16.7 23.3 3

 4 Time and savings deposits 169.9 -107.7 -56.3 32.8 59.4 20.7 42.3 97.5 55.4 -112.6 44.9 4

 5 Security repurchase agreements -62.4 -0.6 11.1 54.2 -51.3 151.2 195.0 167.2 -34.3 276.9 79.2 5

 6 Credit market instruments -619.9 -396.6 -9.8 -82.7 30.8 -120.8 -253.6 -356.5 150.4 -23.6 -102.0 6

 7 Open market paper -108.0 -116.3 -40.0 -13.3 11.2 -18.5 5.9 20.7 -46.0 -54.5 25.6 7

 8 Treasury securities -171.3 -71.0 107.9 14.5 30.2 -75.3 -143.2 -242.7 128.8 -44.2 57.9 8

 9 Agency- and GSE-backed securities -213.1 -140.2 0.9 -60.2 17.7 23.4 -49.7 -13.9 49.9 107.2 -143.8 9

 10 Municipal securities -69.4 -53.4 -29.4 -20.6 -28.3 -26.7 -13.9 -31.0 -1.1 -60.7 1.3 10

 11 Corporate and foreign bonds -58.1 -15.7 -49.1 -3.0 -0.0 -23.8 -52.8 -89.6 18.8 28.6 -43.0 11

 12 Miscellaneous assets -8.3 -3.4 -0.8 6.1 2.8 -14.3 -61.8 -71.9 -24.4 101.0 -93.8 12

 13 Net share issues (liabilities) -498.7 -503.2 -112.8 7.1 28.9 9.6 -86.3 -143.8 39.7 228.7 -47.5 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.116).

F.122 Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving -40.7 -24.9 -35.7 -39.8 -41.3 -14.1 -16.5 -18.1 -11.0 -10.8 -10.1 1

 2 Net acquisition of financial assets 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 2

 3 Security repurchase agreements 28.6 -15.8 -28.8 54.1 92.9 46.3 104.7 168.5 -115.0 27.0 18.4 3

 4 Credit market instruments 387.1 353.6 359.4 642.0 363.9 476.9 329.7 494.8 491.1 591.8 463.3 4

 5 Open market paper 28.6 -13.9 -26.3 27.6 27.7 15.3 -106.3 68.7 17.3 81.6 -148.8 5

 6 Treasury securities 74.0 123.0 65.8 120.8 55.0 119.5 145.3 84.2 140.6 107.9 212.5 6

 7 Agency- and GSE-backed securities 50.0 76.4 115.0 89.2 -24.0 -30.1 -61.9 -145.5 31.9 54.8 -37.2 7

 8 Municipal securities 89.4 46.7 15.7 86.2 -13.5 43.8 17.3 48.7 51.1 57.9 59.4 8

 9 Corporate and foreign bonds 143.8 122.3 170.3 306.0 279.3 318.9 274.9 453.3 240.3 307.1 374.0 9

 10 Other loans and advances 1.3 -0.8 18.9 12.2 39.4 9.4 60.3 -14.6 9.8 -17.6 3.4 10

 11 Corporate equities 86.5 44.3 4.9 -38.1 162.5 75.3 131.6 73.8 124.4 -28.7 67.1 11

 12 Miscellaneous assets -5.1 -12.0 2.9 -33.1 19.1 -4.3 130.7 -86.9 82.2 -143.0 0.0 12

 13 Net share issues (liabilities) 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 13

 14 Discrepancy -40.7 -24.9 -35.7 -39.8 -41.3 -14.1 -16.5 -18.1 -11.0 -10.8 -10.1 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.116).

F.123 Closed-End and Exchange-Traded Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 Closed-end funds

 1 Net acquisition of financial assets 7.1 0.5 -2.9 2.6 -2.6 -10.6 6.4 9.2 -10.0 -48.2 -11.3 1

 2 Credit market instruments 10.5 5.2 -1.7 11.2 13.6 -3.8 1.1 2.8 -10.6 -8.3 -1.4 2

 3 Treasury securities 1.2 0.7 -0.3 0.3 0.6 -0.2 0.3 0.3 -0.5 -1.0 -0.4 3

 4 Municipal securities 3.3 0.4 0.9 3.4 -1.6 0.5 3.6 2.5 -6.3 2.2 -0.6 4

 5 Corporate and foreign bonds 6.0 4.1 -2.3 7.5 14.6 -4.0 -2.8 -0.1 -3.8 -9.5 -0.4 5

 6 Corporate equities -3.4 -4.7 -1.2 -8.5 -16.1 -6.9 5.3 6.4 0.6 -39.9 -9.9 6

 7 Net share issues (liabilities) 7.1 0.5 -2.9 2.6 -2.6 -10.6 6.4 9.2 -10.0 -48.2 -11.3 7

 Exchange-traded funds

 8 Net acquisition of financial assets 116.5 118.0 117.6 185.2 179.0 239.2 57.3 229.6 192.8 477.0 220.5 8

 9 Credit market instruments 46.0 29.7 46.1 52.3 12.2 51.0 43.8 48.2 24.4 87.6 77.1 9

 10 Treasury securities 14.7 9.2 11.4 1.2 -6.5 13.0 8.7 15.0 5.3 23.0 12.2 10

 11 Municipal securities 3.6 1.7 1.0 3.6 -0.8 3.2 1.5 3.1 3.3 4.8 5.6 11

 12 Corporate and foreign bonds 27.6 18.7 33.6 47.6 19.5 34.8 33.6 30.2 15.8 59.7 59.4 12

 13 Corporate equities 70.5 88.3 71.6 132.9 166.8 188.2 13.5 181.4 168.4 389.4 143.4 13

 14 Net share issues (liabilities) 116.5 118.0 117.6 185.2 179.0 239.2 57.3 229.6 192.8 477.0 220.5 14
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F.124 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 9.6 10.5 8.8 8.4 8.5 5.8 5.3 5.8 6.0 6.0 5.9 1

 2 Fixed nonresidential investment 1.1 3.7 3.4 3.5 3.8 4.1 3.9 4.0 4.1 4.2 4.2 2

 3 Net acquisition of financial assets -360.8 -274.1 -205.7 -176.0 104.4 50.2 -477.0 135.1 249.7 293.0 -228.3 3

 4 Checkable deposits and currency 11.1 -36.0 9.3 -20.1 29.0 -16.6 -144.7 15.6 159.9 -97.4 -46.2 4

 5 Time and savings deposits -42.8 0.3 -12.7 -9.1 1.1 -2.1 10.3 -8.1 -1.9 -8.7 -5.4 5

 6 Federal funds and security repos 7.5 20.7 -38.9 38.6 1.5 10.3 -100.1 28.2 -93.5 206.8 -17.9 6

 7 Credit market instruments -337.8 -288.4 -163.2 -189.4 59.8 69.6 -188.3 102.1 193.8 170.6 -199.0 7

 8 Open market paper 3.0 0.2 -3.4 -3.1 1.0 1.5 1.3 3.6 1.2 -0.1 -1.4 8

 9 Treasury securities 19.9 45.9 17.6 -31.2 -9.9 5.2 24.4 -2.8 2.1 -3.0 30.0 9

 10 Agency- and GSE-backed securities -27.4 -85.1 -18.1 -48.3 -22.7 7.8 -17.2 8.1 18.9 21.4 -12.3 10

 11 Municipal securities -2.2 -4.2 -3.9 -4.1 -3.5 -2.6 -3.0 -2.1 -3.0 -2.4 -3.6 11

 12 Corporate and foreign bonds -48.6 -29.6 -30.8 -50.0 -59.4 -30.8 -24.8 -42.9 -31.8 -24.0 -38.6 12

 13 Other loans and advances -284.8 -144.7 -64.2 18.6 81.9 84.3 11.6 157.7 92.1 75.7 -68.1 13

 14 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Farm Credit System -0.2 7.2 -3.5 8.3 2.9 11.2 -4.4 13.5 12.9 22.6 -23.8 15

 16 FHLB loans -284.6 -151.9 -60.7 10.3 79.0 73.1 16.0 144.2 79.2 53.1 -44.3 16

 17 Mortgages 2.4 -71.0 -60.5 -71.4 72.5 4.3 -180.6 -19.6 114.2 103.0 -105.1 17

 18 Home -23.2 -76.4 -66.5 -82.5 87.1 4.5 -164.7 -3.6 103.3 83.1 -133.7 18

 19 Consolidated trusts (2) 0.0 -192.7 -72.5 -44.9 148.0 28.1 -66.0 23.8 61.6 92.8 -69.5 19

 20 Other -23.2 116.3 5.9 -37.6 -60.9 -23.5 -98.7 -27.4 41.7 -9.7 -64.3 20

 21 Multifamily residential 14.2 2.0 2.8 6.2 -21.9 -2.7 -18.5 -18.4 8.6 17.3 25.4 21

 22 Consolidated trusts (2) 0.0 25.3 24.5 27.5 18.9 17.8 10.3 8.9 25.7 26.4 25.0 22

 23 Other 14.2 -23.3 -21.7 -21.3 -40.8 -20.5 -28.7 -27.2 -17.1 -9.0 0.4 23

 24 Farm 11.4 3.4 3.3 4.9 7.4 2.4 2.5 2.4 2.3 2.6 3.2 24

 25 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous assets 1.2 29.3 -0.1 4.1 13.1 -11.0 -54.1 -2.7 -8.6 21.5 40.2 26

 27 Net increase in liabilities -360.2 -237.8 -208.1 -146.6 100.5 71.2 -375.1 156.1 152.1 351.6 -172.6 27

 28 Federal funds and security repos -0.1 0.1 -0.9 -0.4 0.0 0.1 0.1 -0.1 0.0 0.2 0.1 28

 29 Credit market instruments -518.4 -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 29

 30 GSE issues (4) -518.4 -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 30

 31 Consolidated trusts (2) 0.0 -167.4 -48.0 -17.4 166.8 45.9 -55.7 32.7 87.3 119.2 -44.5 31

 32 Other -518.4 -66.4 -139.2 -137.2 -59.3 29.4 -299.8 124.2 55.2 238.1 -119.1 32

 33 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Corporate equities 96.0 38.1 29.2 14.5 2.4 -0.5 -5.9 0.0 2.8 1.0 -5.0 34

 35 Miscellaneous liabilities 62.3 -42.2 -49.2 -6.1 -9.4 -3.6 -13.8 -0.7 6.8 -6.9 -4.2 35

 36 Discrepancy 9.1 43.0 3.0 34.3 0.7 22.7 103.2 22.7 -95.7 60.5 57.4 36

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table F.125) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.125 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 1

 2 Home mortgages 445.6 175.8 148.0 105.0 98.8 51.1 57.9 5.6 61.1 80.0 -15.1 2

 3 Multifamily residential mortgages 13.0 11.3 19.4 27.0 33.7 24.3 19.7 22.3 22.5 32.8 14.4 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages -0.2 -0.2 -2.1 0.3 -0.2 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 5

 6 Net increase in pool securities (liabilities)(2) 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.124). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
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F.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.4 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets -613.7 -413.6 -174.2 -145.1 -234.6 -68.4 -165.8 -90.5 -2.9 -14.3 -73.7 3

 4 Treasury securities -18.3 -13.8 -10.9 -5.8 1.0 0.8 2.5 -3.2 3.6 0.4 -3.4 4

 5 Agency- and GSE-backed securities (1) -224.2 -96.0 -3.3 -0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Other loans and advances -51.1 -38.9 -5.4 -0.6 -11.5 9.1 18.0 -16.5 20.0 14.9 5.8 6

 7 Mortgages (2) -248.1 -213.3 -146.2 -136.0 -217.6 -74.5 -177.9 -65.5 -22.8 -31.7 -73.5 7

 8 Home -202.1 -160.8 -120.9 -106.7 -83.0 -63.4 -62.1 -71.3 -70.6 -49.5 -73.0 8

 9 Multifamily residential -6.1 -8.6 -7.7 -9.6 -5.9 -1.6 -3.1 -6.6 0.2 3.0 -8.4 9

 10 Commercial -39.9 -43.9 -17.6 -19.7 -128.7 -9.5 -112.7 12.4 47.6 14.8 7.8 10

 11 Consumer credit -37.8 -42.3 -4.1 3.8 -0.8 0.6 -2.6 -3.6 7.8 0.9 -2.7 11

 12 Trade credit -34.3 -9.5 -4.2 -6.4 -5.4 -4.4 -5.7 -1.6 -11.6 1.2 -0.0 12

 13 Net increase in liabilities -614.1 -413.9 -174.2 -145.1 -234.6 -68.4 -165.8 -90.5 -2.9 -14.3 -73.7 13

 14 Commercial paper -266.2 -40.3 -24.1 -9.0 -7.1 -15.1 -32.0 24.1 -15.5 -37.1 -20.2 14

 15 Corporate bonds (net) (3) -347.9 -373.6 -150.1 -136.0 -227.5 -53.3 -133.8 -114.6 12.6 22.8 -53.5 15

 16 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Memo:

 Securitized assets not included above

 17 Consumer leases (4) -0.4 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 REIT assets (5) -26.8 -0.5 -3.8 1.3 139.6 11.3 81.6 -23.5 -5.5 -7.4 -29.9 18

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Net issuance less net acquisition of corporate bonds held as assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.

(5) Included in table F.128.

F.127 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 96.8 69.9 102.6 107.4 91.6 76.2 80.3 75.9 76.0 72.7 64.7 1

 2 Fixed nonresidential investment 19.5 39.6 51.2 64.2 69.5 74.3 71.6 73.7 75.8 76.2 76.9 2

 3 Net acquisition of financial assets -184.4 -212.8 -17.8 -69.6 -20.4 28.9 -5.2 29.4 -35.4 126.7 23.4 3

 4 Checkable deposits and currency 0.5 -1.7 5.1 -3.8 4.2 -0.2 3.2 -2.2 -4.8 3.1 1.7 4

 5 Time and savings deposits 1.6 -5.2 15.4 -11.5 12.7 -0.5 9.7 -6.6 -14.5 9.3 5.2 5

 6 Credit market instruments -214.9 -102.6 -44.4 -28.6 -19.0 13.8 -2.0 19.9 -5.4 42.6 26.8 6

 7 Corporate and foreign bonds 6.3 -19.8 0.9 -6.3 -10.8 6.1 15.6 2.5 -10.1 16.3 8.4 7

 8 Other loans and advances -91.0 -15.2 3.0 11.2 14.4 11.5 2.6 24.8 6.3 12.3 26.2 8

 9 Mortgages -47.8 -54.2 -30.9 -25.7 -21.9 -8.7 -13.0 -18.0 -10.0 6.0 -11.6 9

 10 Consumer credit -82.4 -13.4 -17.4 -7.8 -0.6 5.0 -7.1 10.7 8.4 8.0 3.9 10

 11 U.S. direct investment abroad 11.0 6.8 12.0 7.7 4.0 6.3 28.5 9.4 6.4 -18.9 -25.2 11

 12 Miscellaneous assets 17.4 -110.1 -5.9 -33.4 -22.3 9.4 -44.8 8.8 -17.0 90.5 14.8 12

 13 Net increase in liabilities -250.2 -233.1 -26.0 -82.1 -21.6 14.1 -32.9 22.3 -51.1 117.9 66.4 13

 14 Credit market instruments -156.2 -174.9 -13.5 -56.7 4.2 28.9 -24.5 11.6 48.0 80.2 62.8 14

 15 Open market paper -38.8 1.7 10.0 8.2 -10.3 -1.1 -16.2 3.4 20.0 -11.4 -13.6 15

 16 Corporate bonds -87.0 -111.7 -39.4 -81.3 4.4 19.4 -10.2 38.2 2.9 46.7 55.2 16

 17 Depository institution loans n.e.c. -30.4 -64.9 15.9 16.4 10.1 10.5 1.9 -30.0 25.2 45.0 21.2 17

 18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Taxes payable -2.8 0.3 0.5 0.2 0.1 0.3 0.1 0.1 0.8 0.3 1.8 19

 20 Foreign direct investment in U.S. 12.8 13.2 6.1 -0.8 0.5 0.1 1.6 3.2 -6.9 2.5 -5.7 20

 21 Miscellaneous liabilities -104.1 -71.7 -19.1 -24.7 -26.4 -15.2 -10.1 7.4 -93.0 34.9 7.5 21

 22 Investment by parent -32.6 -12.8 -12.0 -0.9 -1.0 1.0 21.0 -7.8 -10.6 1.2 -11.9 22

 23 Other -71.5 -58.8 -7.1 -23.8 -25.4 -16.2 -31.1 15.2 -82.5 33.7 19.4 23

 24 Discrepancy 11.5 9.9 43.2 30.6 20.9 -12.9 -18.9 -4.8 -15.6 -12.3 30.8 24

 Memo:

 25 Consumer leases not included above (2) -25.7 -16.5 7.9 24.3 23.3 21.6 19.2 22.1 26.7 18.3 17.5 25

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.126.
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F.128 Real Estate Investment Trusts (REITs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 6.5 -4.8 -7.3 -10.4 -7.4 -6.8 -8.9 -6.1 -6.1 -5.9 -5.5 1

 2 Fixed nonresidential investment 7.8 5.8 4.9 6.2 6.9 7.6 7.3 7.5 7.7 7.8 7.5 2

 3 Multifamily residential investment 0.7 4.0 6.5 5.3 14.7 7.4 -3.6 19.7 5.4 8.2 11.7 3

 4 Net acquisition of financial assets 12.4 39.7 131.2 161.0 50.1 64.8 99.3 98.6 15.9 45.4 -11.8 4

 5 Checkable deposits and currency 12.4 -5.7 2.5 7.7 -1.3 4.1 -4.6 18.5 2.1 0.5 1.2 5

 6 Credit market instruments -10.3 44.1 120.2 127.6 39.2 43.8 64.7 35.3 -1.1 76.5 -37.3 6

 7 Agency- and GSE-backed securities 15.6 38.2 104.7 109.5 -95.6 7.8 -35.4 44.1 -21.4 44.0 -33.7 7

 8 Corporate and foreign bonds 4.3 7.2 3.8 9.5 -0.2 3.3 6.0 -2.7 3.7 6.4 18.3 8

 9 Mortgages -30.2 -1.3 11.7 8.6 135.0 32.7 94.0 -6.1 16.6 26.1 -21.9 9

 10 Home -25.2 0.2 11.0 6.9 -3.3 13.9 9.1 6.8 28.7 10.8 -2.8 10

 11 Multifamily residential -2.0 -0.3 -0.2 0.1 0.5 1.8 -0.8 0.2 4.3 3.6 0.5 11

 12 Commercial -2.9 -1.2 0.9 1.5 137.7 17.0 85.8 -13.1 -16.5 11.6 -19.6 12

 13 Miscellaneous assets 10.2 1.3 8.5 25.8 12.2 16.9 39.3 44.8 14.9 -31.6 24.3 13

 14 Net increase in liabilities 2.5 62.3 168.0 211.0 136.4 126.8 131.8 150.8 87.9 136.7 82.0 14

 15 Security repurchase agreements 11.1 29.9 97.7 102.4 -66.6 7.3 -53.2 36.8 -1.8 47.3 -11.7 15

 16 Credit market instruments -27.6 0.1 25.6 35.5 178.4 75.0 140.1 49.4 57.4 53.1 44.4 16

 17 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds -26.6 1.0 7.6 26.7 173.6 53.2 115.5 55.1 38.2 4.0 11.9 18

 19 Depository institution loans n.e.c. -12.7 -1.8 4.6 4.0 -2.9 8.0 12.0 -12.2 13.7 18.7 15.3 19

 20 Mortgages 11.8 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.2 20

 21 Corporate equity issues 24.2 28.2 37.5 47.6 46.2 32.7 18.9 46.9 30.4 34.7 53.9 21

 22 Miscellaneous liabilities -5.3 4.1 7.1 25.4 -21.7 11.8 26.1 17.7 1.9 1.5 -4.7 22

 23 Discrepancy -11.7 8.1 18.2 28.4 57.4 40.4 20.2 18.9 52.9 69.7 69.4 23

 Memo:

 24 Securitized assets included above -26.8 -0.5 -3.8 1.3 139.6 11.3 81.6 -23.5 -5.5 -7.4 -29.9 24

 25 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Home mortgages -25.7 1.1 -0.7 3.7 4.0 1.5 1.4 -1.6 3.7 2.3 -4.1 26

 27 Multifamily residential mortgages -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.2 0.3 -0.1 -0.2 -0.3 27

 28 Commercial mortgages -1.1 -1.6 -3.0 -2.4 135.6 9.8 80.3 -22.3 -9.1 -9.6 -25.6 28

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.128.e and F.128.m.
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F.128.e Equity Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 29.7 -0.8 8.1 14.1 13.3 25.2 30.4 43.9 14.8 11.7 26.6 1

 2 Checkable deposits and currency 10.3 -4.1 -2.3 4.1 1.0 3.8 -3.6 15.4 1.8 1.6 -4.3 2

 3 Credit market instruments 6.2 0.7 2.3 1.5 -1.9 6.2 3.9 2.4 9.9 8.8 2.2 3

 4 Corporate and foreign bonds 2.1 0.4 -0.6 -0.2 -1.8 2.2 0.4 1.4 4.3 2.6 1.7 4

 5 Mortgages 4.0 0.4 2.9 1.6 -0.1 4.0 3.4 1.0 5.6 6.2 0.4 5

 6 Home 0.0 0.0 0.1 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.2 6

 7 Multifamily residential -0.2 0.0 -0.0 0.1 -0.0 -0.1 -0.1 -0.0 -0.1 0.0 0.1 7

 8 Commercial 4.2 0.3 2.9 1.5 -0.1 4.1 3.6 1.0 5.7 6.1 0.2 8

 9 Miscellaneous assets 13.2 2.6 8.1 8.5 14.2 15.1 30.1 26.1 3.0 1.3 28.7 9

 10 Net increase in liabilities 2.9 -0.4 37.4 38.5 36.4 61.9 53.8 70.9 60.4 62.6 66.6 10

 11 Credit market instruments 6.6 0.1 32.8 33.9 34.5 54.4 51.7 59.1 51.8 54.9 64.1 11

 12 Corporate bonds 4.7 1.0 13.2 27.6 28.9 33.3 27.6 61.1 34.5 9.9 31.3 12

 13 Depository institution loans n.e.c. -9.8 -1.8 6.1 1.4 -2.2 7.4 11.5 -8.4 11.8 14.6 15.7 13

 14 Mortgages 11.8 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.2 14

 15 Multifamily residential 2.3 0.4 0.1 -1.1 3.3 1.0 -1.8 2.1 -0.6 4.4 3.2 15

 16 Commercial 9.5 0.4 13.3 6.0 4.5 12.7 14.4 4.4 6.1 26.1 14.0 16

 17 Miscellaneous liabilities -3.8 -0.5 4.6 4.6 1.9 7.6 2.1 11.9 8.6 7.7 2.4 17

F.128.m Mortgage Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets -17.3 40.5 123.1 146.9 36.8 39.6 68.9 54.8 1.2 33.7 -38.5 1

 2 Checkable deposits and currency 2.1 -1.6 4.8 3.6 -2.3 0.3 -1.0 3.1 0.3 -1.2 5.5 2

 3 Credit market instruments -16.4 43.3 117.9 126.1 41.1 37.6 60.8 32.9 -11.0 67.7 -39.4 3

 4 Agency- and GSE-backed securities 15.6 38.2 104.7 109.5 -95.6 7.8 -35.4 44.1 -21.4 44.0 -33.7 4

 5 Corporate and foreign bonds 2.2 6.8 4.4 9.7 1.6 1.2 5.6 -4.1 -0.6 3.8 16.5 5

 6 Mortgages -34.2 -1.7 8.8 6.9 135.1 28.6 90.6 -7.0 11.0 19.9 -22.3 6

 7 Home -25.3 0.1 10.9 6.8 -3.3 13.9 9.1 6.8 28.7 10.8 -3.0 7

 8 Multifamily residential -1.8 -0.3 -0.2 0.1 0.5 1.9 -0.7 0.2 4.5 3.6 0.4 8

 9 Commercial -7.1 -1.5 -1.9 -0.0 137.8 12.8 82.2 -14.0 -22.3 5.5 -19.8 9

 10 Miscellaneous assets -3.0 -1.2 0.4 17.2 -2.0 1.7 9.2 18.8 11.9 -32.9 -4.5 10

 11 Net increase in liabilities -24.6 34.4 93.1 124.9 53.8 32.2 59.1 33.0 -2.8 39.4 -38.6 11

 12 Security repurchase agreements 11.1 29.9 97.7 102.4 -66.6 7.3 -53.2 36.8 -1.8 47.3 -11.7 12

 13 Credit market instruments -34.2 -0.1 -7.2 1.6 143.9 20.6 88.3 -9.7 5.7 -1.8 -19.7 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds -31.4 -0.0 -5.7 -0.9 144.7 19.9 87.8 -5.9 3.7 -5.9 -19.4 15

 16 Depository institution loans n.e.c. -2.8 -0.0 -1.5 2.5 -0.8 0.7 0.5 -3.8 1.9 4.1 -0.3 16

 17 Miscellaneous liabilities -1.5 4.6 2.5 20.9 -23.5 4.2 24.0 5.8 -6.7 -6.2 -7.1 17

 Memo:

 18 Securitized assets included above -26.8 -0.5 -3.8 1.3 139.6 11.3 81.6 -23.5 -5.5 -7.4 -29.9 18

 19 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Home mortgages -25.7 1.1 -0.7 3.7 4.0 1.5 1.4 -1.6 3.7 2.3 -4.1 20

 21 Multifamily residential mortgages -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.2 0.3 -0.1 -0.2 -0.3 21

 22 Commercial mortgages -1.1 -1.6 -3.0 -2.4 135.6 9.8 80.3 -22.3 -9.1 -9.6 -25.6 22
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F.129 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 36.9 25.8 6.3 23.2 14.4 25.3 23.1 26.1 29.1 22.7 22.6 1

 2 Fixed nonresidential investment 23.6 17.9 16.1 13.0 13.5 14.3 13.9 14.2 14.5 14.6 14.7 2

 3 Net acquisition of financial assets -236.3 234.4 29.1 173.7 -298.1 -153.7 235.4 -123.2 -185.5 -541.3 77.4 3

 4 Checkable deposits and currency -29.4 6.2 14.9 16.3 -16.5 0.0 2.0 8.5 9.5 -19.8 23.6 4

 5 Security repurchase agreements -103.3 243.4 154.6 55.1 -317.2 -168.2 -190.8 -172.0 -39.4 -270.7 -55.8 5

 6 Credit market instruments -192.1 32.2 5.7 89.1 -175.4 -81.0 -57.8 -28.8 -145.4 -92.0 53.5 6

 7 Open market paper -24.2 -5.3 5.9 -12.2 -1.3 -7.8 22.8 -7.8 -46.1 -0.1 3.4 7

 8 Treasury securities -67.6 -28.5 89.1 63.0 -110.5 -75.9 -64.1 -57.8 -65.3 -116.3 61.2 8

 9 Agency- and GSE-backed securities -131.8 38.9 -2.1 21.9 -55.4 7.7 -3.3 3.4 -30.0 60.8 9.5 9

 10 Municipal securities -3.3 4.6 -9.1 -4.3 -8.0 0.2 -7.1 5.3 -8.0 10.6 7.1 10

 11 Corporate and foreign bonds 47.5 35.2 -85.0 35.5 -11.1 -13.5 -3.3 28.3 -4.5 -74.4 -29.9 11

 12 Other loans and advances -12.7 -12.7 6.9 -14.8 10.9 8.2 -2.7 -0.3 8.4 27.3 2.2 12

 13 Corporate equities -4.6 -18.5 -5.0 9.7 18.6 8.7 -85.5 32.0 53.8 34.6 -103.9 13

 14 Security credit 38.1 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 14

 15 U.S. direct investment abroad 12.5 8.7 4.9 6.7 9.2 9.4 9.0 1.0 8.6 19.1 20.4 15

 16 Miscellaneous assets 42.4 -112.9 -106.6 -68.1 147.7 47.1 633.0 -183.2 -131.9 -129.5 200.4 16

 17 Net increase in liabilities -305.9 220.4 69.4 120.5 -329.1 -166.1 222.3 -111.7 -185.8 -589.2 84.9 17

 18 Security repurchase agreements -296.8 195.9 70.5 131.2 -439.3 -220.9 -223.8 -141.9 -283.3 -234.4 -49.8 18

 19 Credit market instruments -49.7 36.9 -37.9 -1.7 22.2 11.5 41.3 -37.4 42.1 -0.1 -65.9 19

 20 Corporate bonds -4.2 36.9 -37.9 -1.7 22.2 11.5 41.3 -37.4 42.1 -0.1 -65.9 20

 21 Depository institution loans n.e.c. (1) -45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Corporate equity issues -32.4 -11.1 14.1 -50.7 -31.0 -11.7 -7.1 -0.1 -0.5 -39.1 10.4 22

 23 Trade payables 48.9 -52.0 -3.8 -0.0 0.3 3.4 1.0 11.9 8.4 -7.8 5.1 23

 24 Security credit -43.5 29.8 31.9 32.8 68.9 65.4 221.8 6.3 113.4 -79.7 7.7 24

 25 From households -35.7 23.5 0.9 42.0 58.5 53.5 202.8 1.6 103.6 -94.0 6.3 25

 26 From U.S.-chartered depository institutions -3.4 3.2 12.2 -1.9 7.9 8.2 21.9 10.6 -2.7 2.9 1.6 26

 27 From foreign banking offices in U.S. -4.5 3.1 18.8 -7.3 2.5 3.8 -2.9 -5.9 12.5 11.4 -0.2 27

 28 Taxes payable 3.2 -2.1 -1.1 0.5 0.6 0.3 3.2 2.5 1.1 -5.5 3.3 28

 29 Foreign direct investment in U.S. 2.1 13.2 18.2 9.4 11.6 3.5 8.8 3.0 1.9 0.2 -2.6 29

 30 Miscellaneous liabilities 61.7 9.0 -19.4 -7.7 41.3 -19.9 174.1 45.7 -75.5 -223.9 176.0 30

 31 Investment by parent companies -166.8 -51.2 40.4 71.3 72.6 24.1 98.4 126.3 -149.5 21.1 33.8 31

 32 Other 228.6 60.2 -59.8 -79.0 -31.3 -43.9 75.7 -80.5 74.0 -245.0 142.3 32

 33 Proprietors’ net investment 0.6 0.9 -2.9 6.7 -3.9 2.3 3.0 -1.8 6.7 1.1 0.8 33

 34 Discrepancy -56.3 -6.0 30.5 -43.0 -30.2 -1.5 -3.9 23.4 14.3 -39.7 15.5 34

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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F.130 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 85.6 94.6 130.8 162.5 146.8 172.6 147.4 187.2 175.1 180.5 157.1 1

 2 Fixed nonresidential investment 35.9 31.9 37.0 41.6 43.2 45.4 44.2 45.0 46.0 46.2 46.5 2

 3 Net acquisition of financial assets 87.3 -4.6 44.6 -75.5 311.7 91.2 173.7 277.1 -111.1 25.1 -147.9 3

 4 Time and savings deposits -3.9 -1.3 2.4 -0.3 1.5 -8.9 6.5 -24.5 38.3 -55.8 27.0 4

 5 Security repurchase agreements 19.8 2.1 0.2 -49.3 -2.8 -5.1 -0.4 7.7 -5.4 -22.4 12.9 5

 6 Credit market instruments -16.0 22.1 3.1 -50.1 56.2 -11.1 -25.4 -8.1 36.3 -47.0 -32.0 6

 7 Treasury securities 2.7 13.8 7.1 -30.6 8.5 -2.8 -0.4 20.9 8.7 -40.4 -14.4 7

 8 Agency- and GSE-backed securities -7.0 -3.2 12.0 -24.3 13.5 0.0 -7.4 1.2 3.0 3.2 12.3 8

 9 Corporate and foreign bonds -8.4 7.3 -20.1 -11.9 37.0 2.6 -6.9 5.4 25.7 -13.8 -19.8 9

 10 Other loans and advances -3.2 4.3 4.0 16.7 -2.8 -10.9 -10.7 -35.6 -1.1 3.9 -9.9 10

 11 Life insurance reserves 2.1 3.8 2.4 7.3 5.1 5.0 4.7 5.3 4.8 5.3 4.2 11

 12 Miscellaneous assets 85.4 -31.2 36.5 16.9 251.8 111.2 188.2 296.8 -185.0 145.0 -160.2 12

 13 Net trans. with depository institution subs. 166.8 33.4 76.1 101.2 59.2 191.0 165.8 206.4 114.4 277.5 -86.0 13

 14 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 -6.8 -6.0 0.1 -2.2 1.9 -0.2 0.9 -5.5 14

 15 Net trans. with life insurance company subs. 9.3 22.2 9.3 10.3 3.4 0.8 0.9 2.3 -0.3 0.2 1.1 15

 16 Net trans. with finance company subs. -23.3 -39.5 -20.3 -3.5 -15.8 -13.1 -45.9 -3.0 -4.0 0.5 -4.5 16

 17 Net trans. with broker and dealer subs. -173.1 -24.3 -13.0 52.3 57.1 0.8 88.9 61.0 -158.6 11.9 -69.6 17

 18 Net trans. with foreign subs. 23.5 10.6 30.6 -51.5 -16.9 -5.6 -8.1 19.5 -27.6 -6.4 40.5 18

 19 Other 82.3 -33.6 -46.2 -85.0 170.8 -62.7 -11.1 8.6 -108.6 -139.5 -36.0 19

 20 Net increase in liabilities 33.5 -64.9 -49.3 -199.0 205.4 -39.8 67.9 131.2 -244.3 -113.9 -262.3 20

 21 Security repurchase agreements -0.2 0.2 0.4 -1.2 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.1 21

 22 Credit market instruments -8.0 -16.5 -16.5 -99.9 0.5 -8.3 12.9 4.0 -45.0 -5.2 -55.3 22

 23 Commercial paper -18.1 3.9 11.1 6.2 -19.9 -19.6 -27.5 6.5 -37.7 -19.7 -28.0 23

 24 Corporate bonds 7.8 -46.5 -91.6 14.1 6.7 27.6 48.1 87.3 -14.2 -10.9 -17.5 24

 25 Depository institution loans n.e.c. 2.3 26.1 64.0 -120.2 13.8 -16.3 -7.7 -89.9 6.9 25.4 -9.9 25

 26 Corporate equity issues 68.6 19.8 2.9 0.6 -17.1 -0.3 -2.7 30.3 -1.3 -27.6 48.9 26

 27 Miscellaneous liabilities -26.9 -68.5 -36.2 -98.6 222.0 -31.1 57.7 97.0 -197.9 -81.2 -256.0 27

 28 Equity, etc. 35.6 -22.4 6.9 -29.1 -0.1 -0.3 66.9 97.4 -98.7 -66.8 -170.0 28

 29 Other -62.5 -46.1 -43.1 -69.5 222.1 -30.9 -9.2 -0.5 -99.3 -14.4 -86.0 29

 30 Discrepancy -4.0 2.3 -0.2 -2.6 -2.7 -3.8 -2.6 -3.7 -4.1 -4.7 -3.8 30

(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.
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F.131 Funding Corporations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets -507.0 -166.4 -155.3 -100.5 -36.7 14.8 119.7 -95.2 19.2 15.4 76.3 1

 2 Money market fund shares -153.7 -148.0 -84.6 -61.4 -49.3 11.9 -61.2 -153.4 38.1 224.3 10.8 2

 3 Security repurchase agreements 0.1 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments -311.3 38.7 -63.9 -46.4 -0.3 -0.2 169.9 5.1 -56.1 -119.6 -10.0 4

 5 Open market paper -276.8 50.0 -4.6 -3.7 -6.9 -6.4 118.5 29.5 -52.6 -120.8 -19.6 5

 6 Corporate and foreign bonds -24.7 -9.8 -57.3 -36.2 8.9 4.7 48.4 -19.2 -4.5 -5.9 13.9 6

 7 Other loans and advances -9.8 -1.5 -2.0 -6.5 -2.3 1.5 3.0 -5.1 1.0 7.1 -4.3 7

 8 Corporate equities (2) 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets -67.2 -58.4 19.6 7.2 13.0 3.0 11.0 53.1 37.2 -89.3 75.5 9

 10 Investment in foreign banking offices -73.5 -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 10

 11 Investment in brokers and dealers 6.3 -26.9 53.4 19.0 15.5 23.3 9.6 65.3 9.1 9.2 103.4 11

 12 Net increase in liabilities -507.0 -166.4 -155.3 -100.5 -36.7 14.8 119.7 -95.2 19.2 15.4 76.3 12

 13 Credit market instruments -434.8 -65.3 -52.4 -23.9 27.0 26.5 -10.0 77.5 78.3 -39.7 35.2 13

 14 Open market paper -125.1 -47.4 -72.7 -30.9 16.2 4.3 -2.4 6.5 86.8 -73.5 -64.4 14

 15 Corporate bonds 37.9 -3.2 71.6 35.3 11.4 22.2 -7.6 71.1 -8.4 33.8 99.5 15

 16 Depository institution loans n.e.c. (3) -349.6 -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 2.0 7.2 0.7 -6.8 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate equities (5) 30.5 3.5 -18.4 -8.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Foreign direct investment in U.S. 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 19

 20 Miscellaneous liabilities -103.2 -105.1 -85.1 -68.6 -64.3 -12.4 129.1 -173.3 -59.7 54.5 40.5 20

 21 Securities loaned (net) -30.2 -123.5 -74.6 -79.2 94.0 47.1 484.0 -192.0 -44.8 -58.9 139.1 21

 22 Equity interest under PPIP 2.4 7.9 1.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other (net) -75.4 10.4 -11.9 10.5 -158.3 -59.4 -354.8 18.6 -14.9 113.4 -98.5 23

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities, and funds associated with

 the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
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F.132 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Foreign income from U.S. 2613.9 3020.3 3379.5 3470.2 3494.8 3632.3 3572.9 3612.9 3656.9 3686.4 3592.7 1

 2 U.S. imports 1983.2 2365.0 2686.4 2762.5 2770.4 2875.2 2822.7 2893.5 2883.0 2901.5 2810.5 2

 3 U.S. income payments to rest of world 497.8 514.1 546.0 566.5 586.1 616.0 611.6 615.0 617.3 619.9 620.6 3

 4 Current taxes and trans. payments to rest of world 132.9 141.2 147.2 141.3 138.3 141.1 138.6 104.3 156.6 165.0 161.6 4

 5 Foreign outlays to U.S. 2236.6 2572.4 2899.0 2988.0 3072.6 3164.6 3107.3 3172.8 3213.7 3164.8 3030.1 5

 6 U.S. exports 1587.7 1852.3 2106.4 2194.2 2262.2 2337.0 2284.7 2344.3 2366.5 2352.3 2247.4 6

 7 U.S. income receipts from rest of world 648.9 720.0 792.6 793.8 810.4 827.7 822.6 828.5 847.2 812.4 782.7 7

 8 - Net capital transfers paid (1) -0.6 -0.7 -1.6 6.5 -0.8 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 8

 9 Gross saving less net capital transfers paid (2) 377.8 448.6 482.1 475.7 423.0 468.0 466.0 440.5 443.6 522.1 563.0 9

 10 Gross investment 28.0 268.2 416.7 446.5 371.8 166.3 375.6 239.6 -18.6 68.6 -327.1 10

 11 Nonproduced nonfinancial assets 0.0 -0.0 -0.0 -0.1 0.0 0.1 -0.1 0.1 0.1 0.1 0.1 11

 12 Net lending (+) or net borrowing (-) 28.0 268.2 416.7 446.6 371.8 166.2 375.6 239.5 -18.7 68.4 -327.2 12

 13 Net acquisition of financial assets 201.0 1087.5 1049.7 832.9 1191.5 1028.7 1169.0 1152.9 1215.3 577.6 1010.9 13

 14 Monetary gold (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 SDR allocations 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net interbank assets -201.9 -61.8 213.9 -136.0 312.2 -33.2 209.4 106.0 61.8 -509.8 63.0 16

 17 U.S. checkable deposits and currency -9.2 29.5 81.8 68.2 50.9 79.7 119.7 66.6 14.8 117.6 65.1 17

 18 U.S. time deposits -73.3 4.9 47.3 37.9 52.5 47.0 64.9 137.5 -14.5 0.1 20.2 18

 19 Money market fund shares 7.2 -7.1 4.6 22.6 11.3 2.6 -3.6 -3.6 5.4 12.3 -1.9 19

 20 Security repurchase agreements -54.8 92.4 92.6 -6.6 62.1 123.3 285.5 142.9 -57.6 122.4 129.0 20

 21 Credit market instruments 116.5 619.2 237.4 443.5 551.1 536.9 504.1 397.8 544.1 701.7 359.7 21

 22 Open market paper -48.4 -10.7 0.7 -0.1 -1.4 7.4 20.2 42.4 12.3 -45.4 35.8 22

 23 Treasury securities 554.4 740.4 355.3 589.7 431.3 276.1 371.7 283.7 151.3 297.8 -231.2 23

 24 Treasury bills -7.6 -40.2 -62.6 14.0 24.4 -14.7 4.4 -206.0 -81.6 224.5 109.2 24

 25 Other Treasury securities 562.0 780.5 417.9 575.8 406.9 290.8 367.3 489.7 232.8 73.3 -340.4 25

 26 Agency- and GSE-backed securities -226.0 -66.6 -41.6 -73.6 -84.7 7.2 -107.4 4.4 94.3 37.7 -17.3 26

 27 Municipal securities 7.7 13.1 0.6 -0.6 4.3 4.4 3.2 1.5 5.5 7.3 12.8 27

 28 U.S. corporate bonds (4) -127.3 -36.8 -111.5 -19.7 205.2 211.9 152.3 70.4 266.7 358.3 549.0 28

 29 Loans to U.S. corporate business -44.0 -20.2 33.9 -52.2 -3.5 29.9 64.2 -4.7 14.1 46.1 10.5 29

 30 U.S. corporate equities 192.7 127.8 44.0 126.8 -76.6 118.0 346.9 -106.3 260.1 -28.9 -2.3 30

 31 Mutual fund shares 19.4 58.2 74.7 89.7 -20.0 49.3 31.2 123.5 76.3 -33.9 47.4 31

 32 Trade receivables 6.3 18.6 17.1 11.6 11.9 7.2 37.9 12.5 -18.9 -2.4 -0.4 32

 33 Foreign direct investment in U.S. (5) 150.4 205.9 236.1 175.2 236.3 97.8 -427.0 276.1 343.9 198.4 331.1 33

 34 Net increase in liabilities 173.0 819.3 633.0 386.3 819.8 862.5 793.4 913.5 1234.0 509.1 1338.1 34

 35 U.S. official reserve assets 52.3 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -9.8 35

 36 U.S. private deposits -43.9 71.6 -215.0 -144.0 32.7 -105.1 -118.5 -71.7 197.8 -427.9 -130.0 36

 37 Security repurchase agreements 86.0 207.9 96.4 40.4 -83.5 34.9 282.3 -197.2 121.5 -67.2 210.8 37

 38 Credit market instruments 222.2 149.0 172.8 188.6 268.8 156.1 167.4 444.9 54.0 -42.0 298.4 38

 39 Commercial paper 59.4 -2.7 -53.5 27.9 34.0 -22.6 63.8 33.9 -205.9 17.7 149.8 39

 40 Bonds 177.2 127.4 181.7 124.7 194.4 147.3 48.2 349.8 290.6 -99.2 108.7 40

 41 Depository institution loans n.e.c. -14.8 24.0 43.2 30.4 39.1 28.6 54.9 56.4 -30.6 33.7 40.3 41

 42 Other loans and advances 0.5 0.3 1.4 5.6 1.4 2.8 0.5 4.8 -0.0 5.8 -0.5 42

 43 Foreign corporate equities (6) 63.7 79.2 7.0 103.3 275.2 437.1 325.0 365.9 511.9 545.8 541.8 43

 44 Trade payables 0.5 6.0 4.0 0.7 3.4 -12.8 -47.1 5.3 -8.0 -1.5 3.9 44

 45 U.S. direct investment abroad (4,5) 310.4 301.1 419.1 333.0 349.5 358.0 195.6 338.0 385.5 512.6 385.7 45

 46 Miscellaneous liabilities -518.3 2.7 132.9 -140.0 -23.3 -2.0 -7.6 25.1 -25.2 -0.5 37.4 46

 47 U.S. equity in IBRD, etc. 1.7 2.3 2.6 2.4 2.2 2.3 0.0 6.8 1.9 0.7 -0.2 47

 48 Nonofficial foreign currencies -543.5 -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 48

 49 Investment by holding companies 23.5 10.6 30.6 -51.5 -16.9 -5.6 -8.1 19.5 -27.6 -6.4 40.5 49

 50 Discrepancy (FOF basis) 349.8 180.3 65.5 29.1 51.2 301.7 90.4 200.8 462.2 453.5 890.1 50

 Memo:

 51 Net U.S. exports, NIPA basis -395.4 -512.7 -580.0 -568.3 -508.2 -538.2 -538.0 -549.2 -516.5 -549.2 -563.1 51

 52 + Net U.S. income receipts (7) 151.0 206.0 246.6 227.4 224.3 211.7 211.0 213.5 229.9 192.5 162.1 52

 53 - Current taxes and trans. payments to rest of world 132.9 141.2 147.2 141.3 138.3 141.1 138.6 104.3 156.6 165.0 161.6 53

 54 = Balance on current account, NIPAs -377.3 -447.9 -480.5 -482.2 -422.2 -467.6 -465.6 -440.0 -443.2 -521.7 -562.6 54

(1) Table F.9, line 64.

(2) Line 1 minus line 5 minus line 8; equals net lending (+) or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 54 with the sign reversed minus line 8.

(3) U.S. net sales, sign reversed.

(4) Through 1992:Q4, corporate bonds include net issues by Netherlands Antillean financial subsidiaries; U.S. direct investment abroad excludes net inflows from those bond issues.

(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
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F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 99.9 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -9.8 1

 2 Federal government: SDR allocations 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Rest of the world 52.3 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -9.8 3

 4 SDR holdings 48.2 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserve position in IMF 3.4 1.3 18.1 4.0 -3.4 -3.8 -4.2 2.8 -3.8 -10.3 -10.0 5

 6 Other reserves 0.7 0.5 -0.5 0.4 0.3 0.2 0.3 0.2 0.2 0.2 0.2 6

 7 Net change in assets 99.9 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -9.8 7

 8 Federal government 51.9 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -9.9 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings 48.2 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Reserve position in IMF 3.4 1.3 18.2 4.0 -3.4 -3.9 -4.2 2.9 -4.2 -10.3 -10.0 11

 12 Other reserves 0.3 0.3 -0.2 0.2 0.2 0.1 0.2 0.1 0.1 0.1 0.1 12

 13 Rest of the world 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 SDR allocations 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Monetary authority 0.3 0.3 -0.3 0.2 0.2 0.2 0.2 0.1 0.5 0.1 0.1 16

 17 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Reserve position in IMF 0.0 0.0 -0.1 0.0 0.0 0.1 0.1 -0.0 0.4 0.0 -0.0 18

 19 Other reserves 0.3 0.3 -0.2 0.2 0.2 0.1 0.2 0.1 0.1 0.1 0.1 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 Liab: Federal government 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government -0.4 -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 3

 4 Asset: Monetary authority 4.0 0.9 0.7 0.6 0.7 0.8 1.0 0.9 0.8 0.5 1.5 4

 5 Discrepancy (seigniorage) -4.4 -1.1 -0.7 -0.6 -1.1 -1.1 -1.0 -0.9 -1.8 -0.5 -1.5 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total rest of the world liability -43.9 71.6 -215.0 -144.0 32.7 -105.1 -118.5 -71.7 197.8 -427.9 -130.0 1

 Held by:

 2 Household sector -7.2 4.5 -9.9 -7.7 2.8 -5.4 -3.9 -4.7 11.5 -24.7 -8.4 2

 3 Nonfinancial corporate business 6.8 9.1 -5.8 0.6 42.7 -6.0 -42.5 41.9 9.1 -32.4 6.6 3

 4 Money market mutual funds 11.6 8.7 -62.9 0.4 -9.6 -9.6 -57.3 29.0 -13.7 3.6 0.8 4

 5 Discrepancy--unallocated assets -55.1 49.2 -136.3 -137.3 -3.2 -84.1 -14.8 -137.9 190.9 -374.4 -129.1 5
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F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -536.9 -142.8 820.5 -194.5 1129.1 51.2 1175.1 98.3 262.0 -1330.5 595.8 1

 2 Monetary authority 114.2 -11.1 602.3 -64.1 760.6 131.0 774.7 47.2 340.4 -638.4 235.4 2

 3 U.S.-chartered depository institutions -496.4 -201.3 -263.4 -114.2 191.0 47.7 202.1 40.5 135.9 -187.7 379.6 3

 4 Foreign banking offices in U.S. -152.2 30.7 504.6 -1.9 175.1 -127.5 165.6 36.6 -214.3 -497.9 -51.5 4

 5 Banks in U.S.-affiliated areas -1.0 0.9 -1.2 -0.4 0.2 -0.6 -3.2 -1.4 2.6 -0.5 -1.7 5

 6 Credit unions -1.6 38.1 -21.9 -13.8 2.2 0.7 35.9 -24.6 -2.6 -6.1 34.1 6

 7 Net change in assets -551.4 -168.7 817.0 -200.1 1072.3 98.3 985.6 153.8 401.3 -1147.5 297.2 7

 8 Monetary authority -463.7 -95.7 0.8 0.0 -0.5 0.5 1.5 0.6 -0.9 0.7 -1.2 8

 9 U.S.-chartered depository institutions 41.6 -87.8 231.0 6.9 456.9 192.7 227.3 114.9 297.7 130.9 245.8 9

 10 Foreign banking offices in U.S. 45.1 66.7 360.2 -72.2 309.3 -59.3 491.9 -9.6 76.6 -795.9 -66.0 10

 11 Credit unions 27.5 10.0 11.1 1.2 -5.7 -2.5 55.5 -58.1 -33.9 26.6 55.6 11

 12 Rest of the world -201.9 -61.8 213.9 -136.0 312.2 -33.2 209.4 106.0 61.8 -509.8 63.0 12

 13 Discrepancy 14.5 25.8 3.5 5.7 56.8 -47.1 189.5 -55.5 -139.3 -183.0 298.6 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority -2.8 -2.2 8.1 7.1 2.6 2.0 -6.3 1.1 12.3 1.0 -1.7 14

 15 Asset: U.S.-chartered depository institutions -2.8 -2.2 8.1 7.1 2.5 2.0 -6.3 1.0 12.4 0.9 -1.6 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.1 -0.1 0.1 -0.2 16

 Depository institution reserves:

 17 Liab.: Monetary authority 117.0 -8.9 594.2 -71.2 758.0 128.9 781.0 46.1 328.0 -639.4 237.1 17

 18 Asset: U.S.-chartered depository institutions 44.4 -85.6 222.9 -0.2 454.4 190.7 233.6 114.0 285.2 130.0 247.4 18

 19 Foreign banking offices in U.S. 45.1 66.7 360.2 -72.2 309.3 -59.3 491.9 -9.7 76.7 -796.0 -65.8 19

 20 Credit unions 27.5 10.0 11.1 1.2 -5.7 -2.5 55.5 -58.1 -33.9 26.6 55.6 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions -463.7 -95.7 0.8 0.0 -0.5 0.5 1.5 0.6 -0.9 0.7 -1.2 21

 22 Asset: Monetary authority -463.7 -95.7 0.8 0.0 -0.5 0.5 1.5 0.6 -0.9 0.7 -1.2 22

 23 Federal Reserve float -0.6 0.7 0.8 0.1 -0.5 0.4 1.7 0.1 -1.6 1.4 -0.8 23

 24 Loans -463.1 -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) -53.5 -78.4 -309.3 -87.8 153.5 95.5 55.9 48.9 297.5 -20.3 133.8 25

 26 Due to foreign affiliates -50.2 21.5 -222.2 -199.0 103.7 9.3 -26.8 -77.9 274.2 -132.4 57.3 26

 27 - Due from foreign affiliates 3.4 99.9 87.1 -111.1 -49.8 -86.2 -82.7 -126.8 -23.3 -112.1 -76.4 27

 28 Foreign banking offices in U.S. (net) -149.6 37.0 512.1 -51.6 157.9 -124.4 145.5 69.0 -227.4 -484.8 -71.1 28

 29 Due to foreign affiliates -25.6 53.8 296.7 -90.0 143.3 -123.6 80.8 117.3 -118.4 -574.2 -152.1 29

 30 - Due from foreign affiliates 124.0 16.8 -215.4 -38.3 -14.6 0.8 -64.7 48.3 109.0 -89.4 -81.0 30

 31 Less: Deposits at foreign banks -9.6 13.6 -12.4 -2.6 -0.3 1.4 2.0 3.1 -0.0 0.6 -6.3 31

 32 U.S.-chartered depository institutions -15.3 6.9 -4.0 -3.3 0.4 0.8 4.2 1.7 -0.1 -2.7 0.2 32

 33 Foreign banking offices in U.S. 5.7 6.6 -8.4 0.7 -0.8 0.7 -2.1 1.4 0.1 3.4 -6.5 33

 34 Plus: Loans from foreign banks -8.4 -6.8 -1.3 0.8 0.5 -2.8 10.1 -8.8 -8.3 -4.0 -6.0 34

 35 U.S.-chartered depository institutions -2.0 -3.4 0.4 -0.2 -0.1 -2.3 1.6 -5.2 -3.4 -2.2 -0.5 35

 36 Foreign banking offices in U.S. -6.4 -3.4 -1.7 1.1 0.5 -0.5 8.5 -3.6 -5.0 -1.9 -5.5 36

 37 Asset: Rest of the world (1) -201.9 -61.8 213.9 -136.0 312.2 -33.2 209.4 106.0 61.8 -509.8 63.0 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) 7.5 -16.8 40.8 -29.5 38.5 -45.3 147.3 -2.1 -157.5 -168.6 247.7 38

 39 Due to (3): -1.8 -14.0 21.7 23.0 52.1 -48.5 176.4 -8.5 -179.5 -182.5 249.9 39

 40 Foreign banking offices in U.S. -18.8 -0.8 -4.9 3.1 -2.3 -1.4 19.7 20.9 -40.1 -6.1 -16.3 40

 41 Banks in U.S.-affiliated areas 1.0 -0.9 1.2 0.4 -0.2 0.6 3.2 1.4 -2.6 0.5 1.7 41

 42 Credit unions 1.6 -38.1 21.9 13.8 -2.2 -0.7 -35.9 24.6 2.6 6.1 -34.1 42

 43 - Due from: Foreign banking offices in U.S. -9.3 2.9 -19.1 52.5 13.6 -3.3 29.2 -6.4 -21.9 -13.9 2.2 43

 44 Unallocated (2) 14.5 25.8 3.5 5.7 56.8 -47.1 189.5 -55.5 -139.3 -183.0 298.6 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -7.9 266.3 234.5 267.7 332.6 351.1 183.4 578.9 229.8 412.1 -205.7 1

 2 Monetary authority -117.6 185.0 -122.1 62.1 139.5 152.2 -16.3 58.8 194.4 372.0 -413.5 2

 3 Federal government cash and deposits -173.8 149.0 -255.0 7.0 69.8 61.0 -78.7 -7.4 75.8 254.4 -491.2 3

 4 Due to government-sponsored enterprises 14.0 -21.6 51.1 -37.4 -1.3 -5.8 -60.3 1.4 62.9 -27.0 3.0 4

 5 Deposits due to foreign 1.0 0.9 -3.2 6.3 1.5 -2.7 -4.0 -4.1 -2.8 0.0 -0.1 5

 6 Currency outside banks 41.2 56.7 85.0 86.2 69.5 99.7 126.6 69.0 58.5 144.6 74.8 6

 7 U.S.-chartered depository institutions 94.0 69.6 319.4 176.2 148.2 136.2 126.3 474.1 43.3 -98.7 142.4 7

 8 Federal government deposits 0.3 -0.1 -2.7 0.3 0.3 0.9 -0.5 1.0 1.9 1.2 -1.1 8

 9 Deposits due to foreign -28.7 -3.8 25.6 -4.2 -0.7 2.2 6.7 13.5 -14.7 3.3 -5.4 9

 10 Private domestic deposits 122.4 73.5 296.5 180.1 148.6 133.1 120.1 459.6 56.0 -103.1 148.8 10

 11 Foreign banking offices in U.S. 2.6 5.7 23.7 16.2 30.8 45.2 36.3 50.0 -0.0 94.4 25.6 11

 12 Deposits due to foreign 5.8 4.1 4.4 8.9 12.3 14.0 16.4 31.1 8.0 0.4 24.5 12

 13 Private domestic deposits -3.2 1.7 19.3 7.3 18.5 31.2 20.0 18.9 -8.1 94.0 1.1 13

 14 Banks in U.S.-affiliated areas 1.4 0.5 2.8 2.5 6.3 5.2 -3.5 5.2 -3.3 22.5 -1.7 14

 15 Credit unions 11.6 5.5 10.7 10.7 7.9 12.2 40.7 -9.3 -4.5 21.9 41.5 15

 16 Net change in assets -7.9 266.3 234.5 267.7 332.6 351.1 183.4 578.9 229.8 412.1 -205.7 16

 17 Household sector 101.0 38.9 305.1 176.9 121.5 113.9 311.5 222.5 -87.1 8.6 231.1 17

 18 Nonfinancial business 85.6 76.8 50.7 13.8 87.6 99.0 -115.6 257.7 121.0 132.8 8.5 18

 19 Corporate 70.8 79.6 29.7 -45.7 85.1 65.1 -130.6 221.1 93.7 76.1 -29.3 19

 20 Noncorporate 14.9 -2.7 21.0 59.5 2.5 33.9 15.0 36.6 27.3 56.8 37.7 20

 21 Federal government -174.2 148.9 -257.6 6.7 69.6 60.8 -36.0 -104.1 73.3 309.8 -450.2 21

 22 State and local governments 19.6 5.7 16.6 -9.2 7.4 16.0 8.3 1.2 17.4 37.1 -22.5 22

 23 Domestic financial sectors -30.4 -32.3 37.1 9.9 -3.6 -19.1 -65.3 37.2 91.8 -140.3 2.9 23

 24 Property-casualty insurance companies -0.3 5.0 -8.5 12.3 -6.7 5.9 14.9 5.5 3.5 -0.4 -0.6 24

 25 Life insurance companies -32.1 1.0 2.0 2.7 -9.2 3.6 14.0 -5.9 15.1 -8.5 -2.2 25

 26 Private pension funds -2.8 2.1 5.6 -1.7 0.1 1.2 1.0 3.4 0.1 0.1 1.5 26

 27 State and local govt. retirement funds -0.4 0.5 0.3 0.1 -0.0 0.4 -0.1 2.9 0.1 -1.3 0.6 27

 28 Money market mutual funds 10.5 -3.7 5.8 -3.6 -3.2 -17.6 49.1 -9.1 -93.6 -16.7 23.3 28

 29 Government-sponsored enterprises 11.1 -36.0 9.3 -20.1 29.0 -16.6 -144.7 15.6 159.9 -97.4 -46.2 29

 30 Finance companies 0.5 -1.7 5.1 -3.8 4.2 -0.2 3.2 -2.2 -4.8 3.1 1.7 30

 31 REITs 12.4 -5.7 2.5 7.7 -1.3 4.1 -4.6 18.5 2.1 0.5 1.2 31

 32 Brokers and dealers -29.4 6.2 14.9 16.3 -16.5 0.0 2.0 8.5 9.5 -19.8 23.6 32

 33 Rest of the world -9.2 29.5 81.8 68.2 50.9 79.7 119.7 66.6 14.8 117.6 65.1 33

 34 Checkable deposits -21.8 1.2 26.8 11.0 13.2 13.4 19.1 40.5 -9.5 3.6 19.1 34

 35 Currency 12.6 28.3 55.0 57.1 37.7 66.3 100.7 26.1 24.3 114.0 46.0 35

 36 Mail float -0.3 -1.1 0.8 1.5 -0.7 0.9 -39.3 97.7 -1.3 -53.6 -40.6 36
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F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 343.7 115.6 404.1 520.4 409.1 513.2 748.7 425.3 171.3 707.6 892.4 1

 2 Small time and savings deposits 517.2 298.3 577.4 539.6 307.0 365.0 517.3 355.7 449.6 137.3 1031.1 2

 3 U.S.-chartered depository institutions 472.3 271.7 537.1 491.5 256.7 343.8 543.0 303.3 415.5 113.5 878.0 3

 4 Foreign banking offices in U.S. 4.4 5.8 13.2 13.8 27.7 -5.9 -23.4 11.1 9.4 -20.5 167.5 4

 5 Banks in U.S.-affiliated areas -2.9 -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 5

 6 Credit unions 43.4 26.1 27.4 34.4 20.1 25.0 0.5 38.4 26.5 34.4 -7.3 6

 7 Large time deposits (1) -173.6 -182.7 -173.3 -19.2 102.1 148.2 231.4 69.6 -278.3 570.3 -138.7 7

 8 U.S.-chartered depository institutions -335.7 -133.8 -13.2 -9.1 23.9 102.5 -7.9 44.8 -373.3 746.3 28.0 8

 9 Foreign banking offices in U.S. 148.0 -46.5 -163.1 -16.2 71.1 39.7 233.4 26.3 91.3 -192.2 -167.3 9

 10 Banks in U.S.-affiliated areas -2.9 -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 10

 11 Credit unions 17.0 2.8 3.4 6.2 4.7 4.1 8.5 -4.3 5.6 6.3 7.7 11

 12 Net change in assets 343.7 115.6 404.1 520.4 409.1 513.2 748.7 425.3 171.3 707.6 892.4 12

 13 Household sector 105.9 162.8 369.3 412.0 210.6 406.0 498.2 230.0 188.7 707.2 650.2 13

 14 Nonfinancial business 172.1 62.8 19.2 43.4 51.8 37.8 82.6 21.6 -105.6 152.4 105.6 14

 15 Corporate 176.9 59.9 13.2 33.3 41.0 10.6 75.1 0.3 -121.0 88.1 29.5 15

 16 Noncorporate -4.8 2.9 6.0 10.1 10.8 27.1 7.5 21.4 15.4 64.3 76.1 16

 17 Federal government 0.3 0.1 -0.3 0.2 -0.5 0.2 -0.1 -0.0 0.4 0.6 -0.5 17

 18 State and local governments 10.0 -5.9 16.5 21.8 18.6 10.4 33.8 -24.1 26.1 6.0 37.7 18

 19 Domestic financial sectors 128.6 -109.1 -48.0 5.2 76.1 11.8 69.3 60.4 76.2 -158.7 79.1 19

 20 Private pension funds 2.9 -0.6 1.6 -3.9 -0.3 1.0 1.8 3.0 -1.2 0.2 2.8 20

 21 State and local govt. retirement funds 0.9 5.4 1.6 -2.8 1.8 1.6 -1.3 -1.0 0.2 8.7 4.6 21

 22 Money market mutual funds 169.9 -107.7 -56.3 32.8 59.4 20.7 42.3 97.5 55.4 -112.6 44.9 22

 23 Government-sponsored enterprises -42.8 0.3 -12.7 -9.1 1.1 -2.1 10.3 -8.1 -1.9 -8.7 -5.4 23

 24 Finance companies 1.6 -5.2 15.4 -11.5 12.7 -0.5 9.7 -6.6 -14.5 9.3 5.2 24

 25 Holding companies -3.9 -1.3 2.4 -0.3 1.5 -8.9 6.5 -24.5 38.3 -55.8 27.0 25

 26 Rest of the world -73.3 4.9 47.3 37.9 52.5 47.0 64.9 137.5 -14.5 0.1 20.2 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues -498.7 -503.2 -112.8 7.1 28.9 9.6 -86.3 -143.8 39.7 228.7 -47.5 1

 2 Net purchases -498.7 -503.2 -112.8 7.1 28.9 9.6 -86.3 -143.8 39.7 228.7 -47.5 2

 3 Household sector -267.5 -183.6 -19.4 0.3 25.5 -33.6 112.0 17.8 -59.4 -204.6 -19.6 3

 4 Nonfinancial corporate business -71.4 -157.7 -35.4 57.1 39.7 6.0 -128.3 -43.9 52.0 144.2 -66.8 4

 5 Nonfinancial noncorporate business -1.7 3.1 0.8 3.0 2.3 4.3 1.6 4.6 3.3 7.4 5.7 5

 6 State and local governments 10.2 14.7 1.9 5.1 2.6 12.4 12.9 18.9 3.2 14.5 33.2 6

 7 Property-casualty insurance companies -3.2 -4.0 -5.6 2.2 -2.2 -1.9 -10.0 5.3 1.5 -4.3 -0.3 7

 8 Life insurance companies -5.5 -12.7 7.9 -1.4 -5.9 6.1 -1.1 -1.2 6.4 20.5 -4.5 8

 9 Private pension funds -9.6 -10.2 16.5 -17.1 2.2 -0.7 -6.1 11.4 -8.3 0.3 -7.0 9

 10 State and local govt. retirement funds -3.4 2.3 0.5 -3.4 2.6 2.3 -2.6 0.3 -2.5 14.1 2.9 10

 11 Funding corporations -153.7 -148.0 -84.6 -61.4 -49.3 11.9 -61.2 -153.4 38.1 224.3 10.8 11

 12 Rest of the world 7.2 -7.1 4.6 22.6 11.3 2.6 -3.6 -3.6 5.4 12.3 -1.9 12
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F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -344.9 421.3 276.3 251.3 -473.0 42.6 316.3 160.0 -389.5 83.7 209.8 1

 2 Monetary authority -10.6 -18.0 40.2 7.3 208.7 193.9 100.4 461.9 -185.5 398.8 108.1 2

 3 U.S.-chartered depository institutions -195.0 -48.1 -81.5 -52.6 -80.5 -33.2 55.5 -45.3 -88.0 -55.0 -30.0 3

 4 Federal funds (2) ND ND ND ND -11.0 -19.7 25.4 -0.1 -38.5 -65.4 -39.8 4

 5 Security repurchase agreements ND ND ND ND -69.5 -13.5 30.1 -45.2 -49.5 10.4 9.8 5

 6 Foreign banking offices in U.S. 63.5 54.8 54.4 20.6 -12.3 58.6 153.2 44.9 44.9 -8.8 -21.5 6

 7 Federal funds (2) 77.2 -75.7 -9.9 -2.6 -2.6 8.3 30.2 -8.6 37.9 -26.2 45.4 7

 8 Security repurchase agreements -13.7 130.6 64.3 23.3 -9.7 50.2 123.0 53.5 7.0 17.5 -67.0 8

 9 Credit unions -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 9

 10 Property-casualty insurance companies -1.7 0.8 -1.1 0.4 1.4 1.0 1.0 1.3 0.8 0.8 0.5 10

 11 Life insurance companies -0.5 -2.2 0.1 3.1 -0.8 1.0 0.8 -0.5 1.9 1.9 3.3 11

 12 Government-sponsored enterprises -0.1 0.1 -0.9 -0.4 0.0 0.1 0.1 -0.1 0.0 0.2 0.1 12

 13 REITs 11.1 29.9 97.7 102.4 -66.6 7.3 -53.2 36.8 -1.8 47.3 -11.7 13

 14 Brokers and dealers -296.8 195.9 70.5 131.2 -439.3 -220.9 -223.8 -141.9 -283.3 -234.4 -49.8 14

 15 Holding companies -0.2 0.2 0.4 -1.2 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.1 15

 16 Rest of the world 86.0 207.9 96.4 40.4 -83.5 34.9 282.3 -197.2 121.5 -67.2 210.8 16

 17 Net change in assets -553.5 366.7 206.1 257.6 -311.2 183.7 356.3 483.8 -404.6 299.3 239.6 17

 18 Nonfinancial corporate business 0.7 4.3 0.4 -2.9 -0.9 4.7 10.1 8.7 -0.2 0.1 -2.6 18

 19 State and local governments -4.0 -0.6 -4.9 4.5 2.6 10.3 10.7 15.5 3.0 12.0 27.0 19

 20 Monetary authority -80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 U.S.-chartered depository institutions -308.2 0.7 -25.0 60.1 -87.2 -30.4 -54.6 2.8 -25.8 -43.9 120.3 21

 22 Federal funds (2) ND ND ND ND -11.1 -16.4 9.5 5.7 -21.2 -59.6 -20.6 22

 23 Security repurchase agreements ND ND ND ND -76.2 -14.0 -64.1 -2.9 -4.6 15.7 140.9 23

 24 Foreign banking offices in U.S. 0.1 20.3 31.7 58.2 -1.2 41.1 92.7 111.7 -37.8 -2.5 -73.4 24

 25 Federal funds (2) -2.3 -1.8 1.5 -0.8 -1.7 -0.0 1.9 0.9 -1.2 -1.7 -0.8 25

 26 Security repurchase agreements 2.4 22.1 30.2 58.9 0.5 41.1 90.8 110.8 -36.6 -0.7 -72.5 26

 27 Credit unions 0.0 -0.1 15.9 -6.2 -9.6 -0.0 6.7 4.1 0.9 -11.8 7.1 27

 28 Federal funds ND ND 15.9 -6.3 -9.6 0.0 0.6 -0.6 0.0 0.0 0.0 28

 29 Security repurchase agreements ND ND 0.0 0.1 -0.0 -0.1 0.0 0.0 -0.1 -0.1 0.2 29

 30 Property-casualty insurance companies 0.1 -0.7 -2.1 0.0 0.0 0.0 -0.7 0.6 0.3 -0.2 -0.0 30

 31 Life insurance companies 2.2 0.7 -0.8 -1.6 -0.0 0.0 -2.5 -2.3 0.3 4.5 -5.5 31

 32 Private pension funds 0.2 -0.2 0.0 -0.3 -0.1 0.1 0.2 0.3 -0.1 0.1 0.3 32

 33 State and local govt. retirement funds -0.1 0.3 0.1 -0.2 0.1 0.2 -0.1 -0.1 0.0 0.8 0.5 33

 34 Money market mutual funds -62.4 -0.6 11.1 54.2 -51.3 151.2 195.0 167.2 -34.3 276.9 79.2 34

 35 Mutual funds 28.6 -15.8 -28.8 54.1 92.9 46.3 104.7 168.5 -115.0 27.0 18.4 35

 36 Government-sponsored enterprises 7.5 20.7 -38.9 38.6 1.5 10.3 -100.1 28.2 -93.5 206.8 -17.9 36

 37 Of which: FHLB federal funds (3) 14.3 21.3 -34.7 2.9 -14.5 23.3 64.1 -39.9 17.2 51.7 -40.9 37

 38 Brokers and dealers -103.3 243.4 154.6 55.1 -317.2 -168.2 -190.8 -172.0 -39.4 -270.7 -55.8 38

 39 Holding companies 19.8 2.1 0.2 -49.3 -2.8 -5.1 -0.4 7.7 -5.4 -22.4 12.9 39

 40 Funding corporations 0.1 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world -54.8 92.4 92.6 -6.6 62.1 123.3 285.5 142.9 -57.6 122.4 129.0 41

 42 Discrepancy 208.6 54.6 70.2 -6.3 -161.8 -141.1 -40.0 -323.8 15.1 -215.5 -29.8 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations: (4)

 43 Liability: Monetary authority (5) 0.0 0.0 0.0 0.0 197.8 199.0 177.3 389.6 -157.9 386.8 -72.9 43

 44 Asset: Money market mutual funds (6) 0.0 0.0 0.0 0.0 163.3 207.9 234.8 334.2 -44.7 307.4 -103.8 44

 45 Other financial institutions (7) 0.0 0.0 0.0 0.0 34.5 -9.0 -57.5 55.5 -113.3 79.4 31.0 45

(1) Detailed data on federal funds and security repurchase agreements are only available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 2010:Q4 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) 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).

(5) Included in line 2.

(6) Included in line 32.

(7) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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F.208 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total net issues, all types -461.8 -80.4 -88.3 -16.9 -0.8 -21.2 55.6 122.7 -135.3 -128.0 -68.8 1

 2 Commercial paper -461.9 -79.9 -88.2 -16.8 -0.8 -21.2 55.6 122.7 -135.3 -128.0 -68.8 2

 3 Nonfinancial corporate business -73.1 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -70.6 3

 4 Foreign issues in U.S. 59.4 -2.7 -53.5 27.9 34.0 -22.6 63.8 33.9 -205.9 17.7 149.8 4

 5 Nonfinancial -15.2 -3.8 -0.5 10.3 11.2 -6.5 28.1 -1.3 -17.8 -35.1 46.9 5

 6 Financial 74.5 1.1 -53.0 17.6 22.8 -16.1 35.7 35.2 -188.1 52.8 103.0 6

 7 Domestic financial sectors -448.2 -101.7 -68.1 -58.7 -48.9 -36.6 -83.2 30.9 48.5 -142.5 -148.1 7

 8 U.S.-chartered depository institutions 0.0 -19.7 7.7 -33.1 -27.8 -5.2 -5.2 -9.6 -5.0 -0.9 -21.9 8

 9 ABS issuers -266.2 -40.3 -24.1 -9.0 -7.1 -15.1 -32.0 24.1 -15.5 -37.1 -20.2 9

 10 Finance companies -38.8 1.7 10.0 8.2 -10.3 -1.1 -16.2 3.4 20.0 -11.4 -13.6 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies -18.1 3.9 11.1 6.2 -19.9 -19.6 -27.5 6.5 -37.7 -19.7 -28.0 12

 13 Funding corporations -125.1 -47.4 -72.7 -30.9 16.2 4.3 -2.4 6.5 86.8 -73.5 -64.4 13

 14 Bankers’ acceptances (1) 0.1 -0.5 -0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions 0.1 -0.5 -0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Net purchases, by sector -461.8 -80.4 -88.3 -16.9 -0.8 -21.2 55.6 122.7 -135.3 -128.0 -68.8 17

 18 Household sector 16.7 -1.5 -1.8 -0.6 -3.8 -0.1 3.5 0.9 -0.6 -4.2 1.4 18

 19 Nonfinancial corporate business -1.3 12.0 -0.1 -8.4 -21.3 -6.6 -4.9 -19.7 4.2 -5.9 3.7 19

 20 State and local governments -38.8 13.5 -12.3 -7.3 -8.8 -5.0 -4.1 -2.0 -9.1 -4.7 2.4 20

 21 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S.-chartered depository institutions (1) -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 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 0.0 0.0 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Property-casualty insurance companies -9.3 -1.9 0.9 -1.4 0.7 -0.1 -3.4 2.8 1.3 -1.2 -0.1 25

 26 Life insurance companies 11.5 -8.9 -11.2 13.9 3.2 -4.6 -3.2 -16.9 -18.4 20.2 14.6 26

 27 Private pension funds 1.7 -2.0 2.4 -4.9 -3.3 1.8 4.1 2.7 -0.2 0.5 5.8 27

 28 State and local govt. retirement funds -0.9 4.5 1.5 -3.4 2.3 1.8 1.1 -2.1 1.5 6.6 8.4 28

 29 Money market mutual funds -108.0 -116.3 -40.0 -13.3 11.2 -18.5 5.9 20.7 -46.0 -54.5 25.6 29

 30 Mutual funds 28.6 -13.9 -26.3 27.6 27.7 15.3 -106.3 68.7 17.3 81.6 -148.8 30

 31 Government-sponsored enterprises 3.0 0.2 -3.4 -3.1 1.0 1.5 1.3 3.6 1.2 -0.1 -1.4 31

 32 Brokers and dealers -24.2 -5.3 5.9 -12.2 -1.3 -7.8 22.8 -7.8 -46.1 -0.1 3.4 32

 33 Funding corporations -276.8 50.0 -4.6 -3.7 -6.9 -6.4 118.5 29.5 -52.6 -120.8 -19.6 33

 34 Rest of the world -48.4 -10.7 0.7 -0.1 -1.4 7.4 20.2 42.4 12.3 -45.4 35.8 34

(1) Excludes banks’ holdings of own acceptances.
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F.209 Treasury Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 1443.7 1579.6 1066.8 1140.6 759.5 667.2 743.0 314.3 913.8 697.9 -52.8 1

 2 U.S. savings securities (1) -2.8 -3.3 -2.7 -2.8 -3.3 -3.3 -3.3 -3.0 -3.5 -3.2 -3.9 2

 3 Treasury bills -73.3 -19.0 -249.5 107.0 -35.9 -133.9 238.7 -1055.3 92.9 188.3 79.4 3

 4 Other Treasury securities 1519.8 1601.8 1319.0 1036.3 798.7 804.4 507.6 1372.7 824.3 512.9 -128.3 4

 5 Net purchases 1443.7 1579.6 1066.8 1140.6 759.5 667.2 743.0 314.3 913.8 697.9 -52.8 5

 6 Household sector 532.6 317.2 -215.3 215.4 -194.3 -174.7 -351.2 -435.7 25.6 62.6 -309.2 6

 7 U.S. savings securities (1) -2.8 -3.3 -2.7 -2.8 -3.3 -3.3 -3.3 -3.0 -3.5 -3.2 -3.9 7

 8 Bills and other Treasury securities 535.4 320.5 -212.6 218.2 -191.0 -171.4 -347.9 -432.7 29.1 65.8 -305.2 8

 9 Nonfinancial corporate business 12.5 5.1 -5.1 -3.5 3.3 -4.5 -7.8 -1.0 -2.3 -7.0 5.2 9

 10 Nonfinancial noncorporate business -5.7 1.9 0.8 4.0 1.5 2.8 1.1 3.0 2.2 4.9 3.7 10

 11 State and local governments -16.4 9.4 -34.9 45.3 -13.8 68.6 41.9 107.6 29.9 94.9 200.6 11

 12 Monetary authority 300.7 244.9 642.0 2.7 542.6 252.6 498.9 310.2 184.4 16.9 48.4 12

 13 Treasury bills 0.0 0.0 0.0 -18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Other Treasury securities 300.7 244.9 642.0 21.1 542.6 252.6 498.9 310.2 184.4 16.9 48.4 14

 15 U.S.-chartered depository institutions 68.1 93.0 -43.7 69.3 -26.1 203.3 174.0 175.1 216.7 247.3 -5.8 15

 16 Foreign banking offices in U.S. 22.0 3.5 -0.5 16.1 -9.6 -10.5 -2.9 -3.0 -20.7 -15.5 -3.2 16

 17 Banks in U.S.-affiliated areas -0.7 0.6 -0.0 -0.6 0.7 0.2 0.6 -1.9 1.7 0.3 0.6 17

 18 Credit unions 5.4 5.9 -2.5 1.7 -0.2 2.5 5.2 3.6 19.7 -18.6 2.6 18

 19 Property-casualty insurance companies 22.9 3.2 4.6 -6.7 6.4 5.9 -5.5 13.7 12.1 3.4 -1.8 19

 20 Treasury bills 5.0 -0.3 1.9 -3.3 9.4 3.3 -6.8 12.1 7.9 0.1 -0.4 20

 21 Other Treasury securities 18.0 3.5 2.7 -3.4 -3.0 2.6 1.3 1.6 4.2 3.4 -1.4 21

 22 Life insurance companies 27.7 23.2 18.8 5.5 -12.2 14.3 13.4 13.8 13.6 16.2 41.5 22

 23 Treasury bills -6.3 -3.6 3.8 -4.5 -2.8 2.0 -0.3 -0.3 2.1 6.5 -1.3 23

 24 Other Treasury securities 34.0 26.8 15.0 10.0 -9.4 12.3 13.7 14.1 11.6 9.7 42.8 24

 25 Private pension funds 32.8 31.2 27.0 44.4 36.4 19.6 14.8 18.6 25.5 19.3 42.6 25

 26 Federal government retirement funds 7.4 10.1 23.4 12.1 12.4 18.0 12.1 8.3 21.1 30.7 -237.8 26

 27 State and local govt. retirement funds 24.8 10.7 9.2 12.9 12.6 8.8 3.3 4.2 9.6 18.2 35.3 27

 28 Money market mutual funds -171.3 -71.0 107.9 14.5 30.2 -75.3 -143.2 -242.7 128.8 -44.2 57.9 28

 29 Treasury bills -160.2 -84.0 29.1 19.1 6.6 -48.5 -119.0 -176.7 128.6 -26.9 -112.7 29

 30 Other Treasury securities -11.0 13.0 78.8 -4.7 23.6 -26.8 -24.1 -66.0 0.2 -17.3 170.6 30

 31 Mutual funds 74.0 123.0 65.8 120.8 55.0 119.5 145.3 84.2 140.6 107.9 212.5 31

 32 Treasury bills 0.0 4.2 -3.2 11.7 -9.5 -0.5 23.3 -45.8 1.2 19.2 -37.6 32

 33 Other Treasury securities 74.0 118.8 69.0 109.1 64.5 120.1 122.0 130.0 139.4 88.8 250.1 33

 34 Closed-end funds 1.2 0.7 -0.3 0.3 0.6 -0.2 0.3 0.3 -0.5 -1.0 -0.4 34

 35 Exchange-traded funds 14.7 9.2 11.4 1.2 -6.5 13.0 8.7 15.0 5.3 23.0 12.2 35

 36 Government-sponsored enterprises 19.9 45.9 17.6 -31.2 -9.9 5.2 24.4 -2.8 2.1 -3.0 30.0 36

 37 ABS issuers -18.3 -13.8 -10.9 -5.8 1.0 0.8 2.5 -3.2 3.6 0.4 -3.4 37

 38 Brokers and dealers -67.6 -28.5 89.1 63.0 -110.5 -75.9 -64.1 -57.8 -65.3 -116.3 61.2 38

 39 Holding companies 2.7 13.8 7.1 -30.6 8.5 -2.8 -0.4 20.9 8.7 -40.4 -14.4 39

 40 Rest of the world 554.4 740.4 355.3 589.7 431.3 276.1 371.7 283.7 151.3 297.8 -231.2 40

 41 Treasury bills -7.6 -40.2 -62.6 14.0 24.4 -14.7 4.4 -206.0 -81.6 224.5 109.2 41

 42 Other Treasury securities 562.0 780.5 417.9 575.8 406.9 290.8 367.3 489.7 232.8 73.3 -340.4 42

 Memo:

 43 Federal government borrowing (2) 1443.9 1580.2 1067.9 1140.2 759.1 667.1 741.0 314.4 913.1 700.0 -53.8 43

(1) Includes U.S. savings bonds, U.S. individual retirement bonds, U.S. retirement plan bonds, U.S. savings stamps, and matured U.S. savings securities.

(2) Total issues of Treasury securities (line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 11).
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F.210 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net issues -59.9 -46.2 -20.8 -22.8 239.5 150.5 -280.0 184.8 225.2 471.9 -165.4 1

 2 Budget agencies 0.1 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 2

 3 Government-sponsored enterprises -518.4 -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 3

 4 Agency- and GSE-backed mortgage pools 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 4

 5 Net purchases -59.9 -46.2 -20.8 -22.8 239.5 150.5 -280.0 184.8 225.2 471.9 -165.4 5

 6 Household sector -671.6 -10.2 -11.0 -111.8 -75.4 -89.6 -386.4 31.1 -73.4 70.2 -44.2 6

 7 Nonfinancial corporate business 4.2 1.7 -1.7 -1.2 -2.9 2.5 5.4 7.7 -0.8 -2.3 1.7 7

 8 Federal government 142.0 -47.2 -118.1 -31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments 11.0 25.6 -14.6 -17.7 -25.9 -15.0 -27.2 -2.7 -25.5 -4.7 -17.3 9

 10 Monetary authority 1048.5 71.4 -197.9 61.8 543.9 228.1 412.3 228.4 115.5 156.3 -26.8 10

 11 U.S.-chartered depository institutions 168.0 110.1 106.9 35.5 47.7 43.0 54.9 19.6 89.0 8.4 218.9 11

 12 Foreign banking offices in U.S. -19.3 -4.8 4.0 1.5 -6.7 -4.9 -11.5 -6.3 -1.9 0.1 -4.7 12

 13 Banks in U.S.-affiliated areas -3.9 -7.7 -8.0 -2.2 -0.8 -0.1 -0.4 0.1 -0.0 -0.2 -1.0 13

 14 Credit unions 27.8 40.9 30.6 14.9 2.2 -11.7 -15.3 -4.4 -10.4 -16.7 -20.7 14

 15 Property-casualty insurance companies 1.9 -0.4 6.9 -8.4 -4.9 -4.2 -6.2 -5.7 -1.9 -3.1 -1.9 15

 16 Life insurance companies 5.8 4.0 -1.6 -13.5 -6.8 -15.0 -12.5 -10.1 -15.8 -21.5 -2.1 16

 17 Private pension funds -6.5 6.5 4.3 22.1 15.4 -1.1 -5.4 16.4 -6.7 -8.4 -4.5 17

 18 Federal government retirement funds 0.0 0.6 0.7 1.5 -1.7 -0.4 -2.9 0.7 -0.1 0.6 0.0 18

 19 State and local govt. retirement funds -3.8 0.9 11.0 11.5 6.8 -4.8 -2.3 8.2 10.5 -35.8 -40.3 19

 20 Money market mutual funds -213.1 -140.2 0.9 -60.2 17.7 23.4 -49.7 -13.9 49.9 107.2 -143.8 20

 21 Mutual funds 50.0 76.4 115.0 89.2 -24.0 -30.1 -61.9 -145.5 31.9 54.8 -37.2 21

 22 Government-sponsored enterprises -27.4 -85.1 -18.1 -48.3 -22.7 7.8 -17.2 8.1 18.9 21.4 -12.3 22

 23 ABS issuers -224.2 -96.0 -3.3 -0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 REITs 15.6 38.2 104.7 109.5 -95.6 7.8 -35.4 44.1 -21.4 44.0 -33.7 24

 25 Brokers and dealers -131.8 38.9 -2.1 21.9 -55.4 7.7 -3.3 3.4 -30.0 60.8 9.5 25

 26 Holding companies -7.0 -3.2 12.0 -24.3 13.5 0.0 -7.4 1.2 3.0 3.2 12.3 26

 27 Rest of the world -226.0 -66.6 -41.6 -73.6 -84.7 7.2 -107.4 4.4 94.3 37.7 -17.3 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.209, line 43.
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F.211 Municipal Securities and Loans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 155.3 99.7 -52.8 -4.9 -43.2 -18.8 -38.0 15.7 -88.5 35.5 170.0 1

 2 State and local governments 112.2 68.7 -53.6 -5.7 -39.4 -14.0 -39.0 35.2 -84.0 31.7 139.8 2

 3 Short-term (1) 7.8 -0.7 -10.6 3.8 -10.9 -6.7 -5.0 16.0 -33.5 -4.1 2.1 3

 4 Long-term 104.4 69.3 -42.9 -9.4 -28.6 -7.4 -34.0 19.2 -50.5 35.9 137.7 4

 5 Nonprofit organizations (2) 5.9 -2.2 -7.8 -14.5 -13.1 -4.8 -1.0 -2.3 -9.8 -6.0 -0.4 5

 6 Nonfinancial corporate business 37.2 33.2 8.5 15.2 9.3 -0.1 2.0 -17.2 5.2 9.7 30.6 6

 (industrial revenue bonds)

 7 Net change in assets 155.3 99.7 -52.8 -4.9 -43.2 -18.8 -38.0 15.7 -88.5 35.5 170.0 7

 8 Household sector 107.1 43.6 -65.7 -144.6 -55.2 -66.0 -56.5 -21.4 -161.7 -24.2 13.0 8

 9 Nonfinancial corporate business 0.9 -3.2 -1.6 0.6 -1.1 -8.6 -14.3 -8.5 -11.5 0.0 7.3 9

 10 Nonfinancial noncorporate business 0.2 0.5 0.3 0.2 0.2 0.3 0.1 0.3 0.3 0.6 0.4 10

 11 State and local governments 1.0 1.4 0.2 0.2 0.0 0.8 0.9 1.4 0.1 1.0 2.5 11

 12 U.S.-chartered depository institutions 2.4 30.3 42.6 67.8 53.8 32.7 37.7 17.4 34.5 41.0 68.5 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Banks in U.S.-affiliated areas 0.9 -0.9 0.9 -0.8 0.9 -0.9 -0.6 -2.8 -0.3 0.3 0.2 14

 15 Credit unions 0.0 0.0 3.2 1.0 0.3 -0.8 -0.1 1.6 0.2 -4.8 0.6 15

 16 Property-casualty insurance companies -12.6 -21.0 -17.4 -2.9 -1.7 -4.7 -10.4 -9.2 2.2 -1.6 -5.7 16

 17 Life insurance companies 26.1 39.2 9.4 9.7 10.1 6.2 5.1 9.6 6.8 3.3 1.3 17

 18 State and local govt. retirement funds 0.1 0.8 -0.6 0.2 0.8 -0.7 -1.5 -0.8 -0.6 0.1 -0.1 18

 19 Money market mutual funds -69.4 -53.4 -29.4 -20.6 -28.3 -26.7 -13.9 -31.0 -1.1 -60.7 1.3 19

 20 Mutual funds 89.4 46.7 15.7 86.2 -13.5 43.8 17.3 48.7 51.1 57.9 59.4 20

 21 Closed-end funds 3.3 0.4 0.9 3.4 -1.6 0.5 3.6 2.5 -6.3 2.2 -0.6 21

 22 Exchange-traded funds 3.6 1.7 1.0 3.6 -0.8 3.2 1.5 3.1 3.3 4.8 5.6 22

 23 Government-sponsored enterprises -2.2 -4.2 -3.9 -4.1 -3.5 -2.6 -3.0 -2.1 -3.0 -2.4 -3.6 23

 24 Brokers and dealers -3.3 4.6 -9.1 -4.3 -8.0 0.2 -7.1 5.3 -8.0 10.6 7.1 24

 25 Rest of the world 7.7 13.1 0.6 -0.6 4.3 4.4 3.2 1.5 5.5 7.3 12.8 25

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.101 and L.101).
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F.212 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net issues -55.6 -239.6 106.4 222.9 390.1 480.8 360.9 674.8 550.3 337.2 530.6 1

 2 Nonfinancial corporate business 215.6 179.3 162.0 323.5 279.8 264.9 286.7 235.4 198.4 339.1 449.7 2

 3 Domestic financial sectors -448.5 -546.3 -237.4 -225.2 -84.1 68.6 26.0 89.6 61.4 97.3 -27.8 3

 4 U.S.-chartered depository institutions -28.5 -49.2 2.4 -82.3 -74.9 -12.0 -27.2 -10.1 -11.9 1.0 -57.5 4

 5 ABS issuers (net) (1) -347.9 -373.6 -150.1 -136.0 -227.5 -53.3 -133.8 -114.6 12.6 22.8 -53.5 5

 6 Finance companies -87.0 -111.7 -39.4 -81.3 4.4 19.4 -10.2 38.2 2.9 46.7 55.2 6

 7 REITs -26.6 1.0 7.6 26.7 173.6 53.2 115.5 55.1 38.2 4.0 11.9 7

 8 Brokers and dealers -4.2 36.9 -37.9 -1.7 22.2 11.5 41.3 -37.4 42.1 -0.1 -65.9 8

 9 Holding companies 7.8 -46.5 -91.6 14.1 6.7 27.6 48.1 87.3 -14.2 -10.9 -17.5 9

 10 Funding corporations 37.9 -3.2 71.6 35.3 11.4 22.2 -7.6 71.1 -8.4 33.8 99.5 10

 11 Rest of the world (2) 177.2 127.4 181.7 124.7 194.4 147.3 48.2 349.8 290.6 -99.2 108.7 11

 12 Net purchases (3) -55.6 -239.6 106.4 222.9 390.1 480.8 360.9 674.8 550.3 337.2 530.6 12

 13 Household sector 97.6 -422.2 91.7 -178.3 -227.8 -131.9 -132.9 35.2 -45.4 -384.7 -443.7 13

 14 Federal government 0.6 0.3 -0.1 -0.2 -0.1 -0.0 -0.0 -0.1 0.0 0.0 0.0 14

 15 State and local governments 3.7 8.4 -2.4 3.1 0.4 10.3 11.0 17.0 0.9 12.4 31.4 15

 16 U.S.-chartered depository institutions 25.1 -98.2 2.5 -9.0 15.2 -37.4 -75.8 2.1 -82.4 6.4 2.9 16

 17 MBS and other ABS -47.7 -88.1 -24.8 -1.0 -1.3 -8.6 -23.3 4.9 -16.2 0.1 -5.4 17

 18 Other 72.9 -10.2 27.3 -8.0 16.5 -28.8 -52.4 -2.8 -66.2 6.3 8.3 18

 19 Foreign banking offices in U.S. -157.8 -9.4 -1.4 -6.2 -34.1 0.9 16.6 1.2 -7.7 -6.4 -25.9 19

 20 Banks in U.S.-affiliated areas 1.5 -1.4 3.6 1.0 0.6 -0.4 2.5 -0.6 -2.3 -1.4 0.1 20

 21 Credit unions -6.7 -15.7 -0.3 0.3 2.2 1.0 2.6 0.2 -3.0 4.3 5.1 21

 22 MBS and other ABS 0.3 -0.7 -0.3 0.7 2.1 1.0 2.6 0.3 -2.6 3.9 5.0 22

 23 Other -7.0 -15.0 -0.1 -0.4 0.1 -0.0 0.1 -0.1 -0.4 0.4 0.0 23

 24 Property-casualty insurance companies 30.8 24.3 40.4 19.6 28.1 17.0 9.5 11.0 26.0 21.3 -7.6 24

 25 MBS and other ABS 0.0 0.0 -0.6 3.2 8.3 9.3 8.9 9.2 9.4 9.7 -2.4 25

 26 Other 30.8 24.3 41.1 16.4 19.8 7.7 0.6 1.8 16.6 11.6 -5.1 26

 27 Life insurance companies 97.6 102.9 87.1 45.0 60.8 69.3 92.7 109.9 63.2 11.3 65.0 27

 28 MBS and other ABS 0.0 0.0 0.0 -24.3 9.1 15.8 15.1 15.9 16.1 16.2 -9.0 28

 29 Other 97.6 102.9 87.1 69.3 51.8 53.5 77.6 94.0 47.2 -4.9 74.0 29

 30 Private pension funds -16.0 82.1 44.5 83.8 5.5 13.0 -18.8 37.7 23.0 10.2 10.4 30

 31 Federal government retirement funds -0.0 0.2 1.4 1.7 -1.3 -0.7 -3.1 0.4 -0.4 0.4 1.1 31

 32 State and local govt. retirement funds -100.5 5.9 -13.2 -16.9 57.7 29.5 16.3 25.1 62.0 14.7 0.7 32

 33 Money market mutual funds -58.1 -15.7 -49.1 -3.0 -0.0 -23.8 -52.8 -89.6 18.8 28.6 -43.0 33

 34 Mutual funds 143.8 122.3 170.3 306.0 279.3 318.9 274.9 453.3 240.3 307.1 374.0 34

 35 Closed-end funds 6.0 4.1 -2.3 7.5 14.6 -4.0 -2.8 -0.1 -3.8 -9.5 -0.4 35

 36 Exchange-traded funds 27.6 18.7 33.6 47.6 19.5 34.8 33.6 30.2 15.8 59.7 59.4 36

 37 Government-sponsored enterprises -48.6 -29.6 -30.8 -50.0 -59.4 -30.8 -24.8 -42.9 -31.8 -24.0 -38.6 37

 38 MBS and other ABS -50.2 -46.5 -32.2 -31.2 -58.8 -30.2 -24.3 -42.0 -31.1 -23.2 -37.8 38

 39 Other 1.6 17.0 1.4 -18.8 -0.6 -0.7 -0.5 -0.8 -0.7 -0.8 -0.8 39

 40 Finance companies 6.3 -19.8 0.9 -6.3 -10.8 6.1 15.6 2.5 -10.1 16.3 8.4 40

 41 REITs 4.3 7.2 3.8 9.5 -0.2 3.3 6.0 -2.7 3.7 6.4 18.3 41

 42 Brokers and dealers 47.5 35.2 -85.0 35.5 -11.1 -13.5 -3.3 28.3 -4.5 -74.4 -29.9 42

 43 Holding companies -8.4 7.3 -20.1 -11.9 37.0 2.6 -6.9 5.4 25.7 -13.8 -19.8 43

 44 Funding corporations -24.7 -9.8 -57.3 -36.2 8.9 4.7 48.4 -19.2 -4.5 -5.9 13.9 44

 45 Rest of the world (4) -127.3 -36.8 -111.5 -19.7 205.2 211.9 152.3 70.4 266.7 358.3 549.0 45

 46 MBS and other ABS -167.4 -45.5 -44.8 -36.1 -22.5 -7.8 -7.1 -5.6 -31.6 13.3 -6.8 46

 47 Other 40.1 8.8 -66.7 16.4 227.7 219.7 159.4 76.0 298.3 345.0 555.8 47

(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.
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F.213 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 328.4 19.9 -283.6 -73.3 84.8 269.2 -139.7 391.8 254.7 569.9 315.1 1

 2 Nonfinancial corporate business -51.2 -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -541.7 2

 3 Domestic financial sectors 315.9 191.4 164.1 168.3 162.5 219.6 37.1 298.9 177.1 365.1 315.1 3

 4 U.S.-chartered depository institutions 11.6 11.9 6.4 1.6 2.2 2.7 2.5 4.3 2.8 1.2 24.0 4

 5 Property-casualty insurance companies -5.3 -12.7 -10.7 -14.5 -7.6 -16.9 -17.9 -9.4 -22.2 -17.9 -15.6 5

 6 Life insurance companies -0.9 -4.8 -11.5 -9.9 -9.2 -14.9 -14.3 -11.8 -17.6 -16.0 -10.9 6

 7 Closed-end funds 7.1 0.5 -2.9 2.6 -2.6 -10.6 6.4 9.2 -10.0 -48.2 -11.3 7

 8 Exchange-traded funds 116.5 118.0 117.6 185.2 179.0 239.2 57.3 229.6 192.8 477.0 220.5 8

 9 REITs 24.2 28.2 37.5 47.6 46.2 32.7 18.9 46.9 30.4 34.7 53.9 9

 10 Government-sponsored enterprises 96.0 38.1 29.2 14.5 2.4 -0.5 -5.9 0.0 2.8 1.0 -5.0 10

 11 Brokers and dealers -32.4 -11.1 14.1 -50.7 -31.0 -11.7 -7.1 -0.1 -0.5 -39.1 10.4 11

 12 Holding companies 68.6 19.8 2.9 0.6 -17.1 -0.3 -2.7 30.3 -1.3 -27.6 48.9 12

 13 Funding corporations (2) 30.5 3.5 -18.4 -8.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Rest of the world (3) 63.7 79.2 7.0 103.3 275.2 437.1 325.0 365.9 511.9 545.8 541.8 14

 15 Net purchases 328.4 19.9 -283.6 -73.3 84.8 269.2 -139.7 391.8 254.7 569.9 315.1 15

 16 Household sector -17.8 -183.9 -294.2 -194.7 -30.7 28.5 -418.6 316.1 -164.9 381.4 367.0 16

 17 Federal government 0.6 24.1 40.3 -13.2 -4.8 -1.6 -0.6 -1.1 -4.2 -0.7 -0.4 17

 18 State and local governments -2.1 0.3 -3.5 1.6 0.2 5.5 5.9 9.1 0.5 6.6 16.8 18

 19 Monetary authority 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 U.S.-chartered depository institutions 6.3 -1.8 1.0 -10.5 0.8 0.7 -2.5 -0.7 1.6 4.3 -1.7 20

 21 Foreign banking offices in U.S. 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Property-casualty insurance companies -2.8 -20.9 2.9 4.6 3.7 2.6 2.4 -12.6 3.7 16.8 -2.4 22

 23 Life insurance companies 33.4 12.7 33.2 16.1 13.7 28.1 29.7 70.7 2.5 9.4 44.1 23

 24 Private pension funds -91.2 22.7 -60.2 -18.5 4.2 -6.8 16.3 2.2 -27.3 -18.6 -20.3 24

 25 Federal government retirement funds 8.8 5.4 -4.2 -4.1 9.1 4.2 7.2 -0.3 6.3 3.7 4.9 25

 26 State and local govt. retirement funds 1.4 -78.6 -60.4 -77.4 -166.6 -175.1 -191.4 -178.9 -170.5 -159.5 -187.3 26

 27 Mutual funds 86.5 44.3 4.9 -38.1 162.5 75.3 131.6 73.8 124.4 -28.7 67.1 27

 28 Closed-end funds -3.4 -4.7 -1.2 -8.5 -16.1 -6.9 5.3 6.4 0.6 -39.9 -9.9 28

 29 Exchange-traded funds 70.5 88.3 71.6 132.9 166.8 188.2 13.5 181.4 168.4 389.4 143.4 29

 30 Brokers and dealers -4.6 -18.5 -5.0 9.7 18.6 8.7 -85.5 32.0 53.8 34.6 -103.9 30

 31 Funding corporations 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Rest of the world (4) 192.7 127.8 44.0 126.8 -76.6 118.0 346.9 -106.3 260.1 -28.9 -2.3 32

(1) Excludes mutual fund shares shown on table F.214.

(2) Preferred shares issued by AIG to the federal goverment under the TARP program and the monetary authority sector’s preferred interest in AIA Aurora LLC and ALICO Holdings LLC.

(3) Net purchases of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(4) Net purchases of U.S. issues by foreign residents.

F.214 Mutual Fund Shares (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 1

 2 Net purchases 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 2

 3 Household sector 375.6 247.9 329.2 581.1 611.0 520.0 620.4 497.0 492.9 469.5 459.2 3

 4 Nonfinancial corporate business 35.3 11.1 -12.8 -1.7 1.0 15.3 15.3 15.3 15.3 15.3 15.3 4

 5 State and local governments 1.8 3.1 -0.3 0.8 0.1 2.8 3.0 4.7 0.2 3.4 8.6 5

 6 U.S.-chartered depository institutions 14.8 -5.8 -0.8 -1.1 1.6 -0.7 8.5 5.1 -12.8 -3.6 -2.5 6

 7 Credit unions -0.7 0.2 0.3 0.4 -0.1 -0.1 0.1 -0.2 -0.3 0.1 -0.4 7

 8 Property-casualty insurance companies 0.5 -0.1 -0.7 1.8 1.0 1.4 1.3 1.3 1.3 1.6 2.4 8

 9 Life insurance companies 0.0 33.9 5.6 0.4 1.1 1.3 1.3 1.3 1.3 1.3 1.3 9

 10 Private pension funds 51.7 35.0 8.3 -26.2 31.9 21.0 28.0 22.9 22.0 10.9 27.6 10

 11 State and local govt. retirement funds -1.3 -13.4 -65.2 -20.4 10.8 -16.1 -12.5 -20.7 -13.7 -17.6 -10.2 11

 12 Rest of the world 19.4 58.2 74.7 89.7 -20.0 49.3 31.2 123.5 76.3 -33.9 47.4 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -758.5 -92.2 146.6 186.1 186.1 308.0 316.2 321.6 195.3 399.0 419.1 1

 2 Household sector 28.3 50.1 -54.9 110.8 30.0 120.2 152.8 179.2 85.8 63.1 124.1 2

 3 Corporate business -234.0 -87.0 92.1 107.8 49.9 85.9 84.1 109.5 71.7 78.3 108.9 3

 4 Noncorporate business -102.0 -16.8 33.5 58.3 46.2 71.1 18.2 108.6 22.7 134.9 119.1 4

 5 Domestic financial sectors -435.9 -62.5 32.6 -121.2 20.9 2.2 6.1 -132.1 45.8 89.0 26.6 5

 6 Finance companies -30.4 -64.9 15.9 16.4 10.1 10.5 1.9 -30.0 25.2 45.0 21.2 6

 7 REITs -12.7 -1.8 4.6 4.0 -2.9 8.0 12.0 -12.2 13.7 18.7 15.3 7

 8 Brokers and dealers -45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Holding companies 2.3 26.1 64.0 -120.2 13.8 -16.3 -7.7 -89.9 6.9 25.4 -9.9 9

 10 Funding corporations -349.6 -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world -14.8 24.0 43.2 30.4 39.1 28.6 54.9 56.4 -30.6 33.7 40.3 11

 12 Foreign official institutions -0.0 2.1 -1.2 0.8 1.0 1.1 -2.7 4.1 -0.4 3.3 4.0 12

 13 Foreign banks -5.2 15.6 16.8 0.6 20.0 -0.7 6.2 26.6 -37.6 2.0 5.7 13

 14 Other foreign -9.6 6.3 27.6 29.1 18.1 28.2 51.5 25.7 7.3 28.3 30.6 14

 15 Net change in assets -758.5 -92.2 146.6 186.1 186.1 308.0 316.2 321.6 195.3 399.0 419.1 15

 16 Monetary authority (2) -347.6 -44.8 -67.6 -29.9 -0.5 -0.1 -0.1 -0.1 -0.1 -0.1 0.0 16

 17 U.S.-chartered depository institutions -285.9 -36.3 163.6 218.6 136.4 241.6 258.6 269.3 165.0 273.6 318.1 17

 18 Foreign banking offices in U.S. -126.0 -11.3 42.9 -3.7 43.8 63.6 57.1 54.9 22.1 120.4 100.2 18

 19 Banks in U.S.-affiliated areas -0.3 -3.3 1.1 1.0 1.3 -2.3 -0.6 -4.4 -2.8 -1.3 -5.7 19

 20 Credit unions 1.3 3.5 6.6 0.1 5.1 5.1 1.2 1.8 11.1 6.3 6.6 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table F.109.
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F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total other loans and advances -446.9 -226.8 4.9 -13.6 142.1 151.7 164.3 97.1 163.6 181.9 -37.6 1

 2 U.S. government loans 66.2 3.7 4.8 2.5 7.2 2.5 7.1 3.7 -0.4 -0.6 -0.5 2

 3 Liab.: Household sector -0.2 -1.0 -0.5 -0.1 1.1 1.2 -0.9 5.1 -1.4 2.0 0.9 3

 4 Nonfinancial corporate business 59.6 -4.3 -0.5 5.2 0.8 -1.5 5.3 -9.5 -0.6 -1.1 -1.4 4

 5 Nonfinancial noncorporate business 3.6 0.6 2.9 0.6 2.0 -1.2 -2.1 2.4 -0.2 -4.9 -0.7 5

 6 State and local governments 0.8 0.9 0.9 0.4 0.5 0.4 0.2 0.5 0.3 0.4 0.4 6

 7 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 2.0 7.2 0.7 -6.8 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 2.1 2.7 3.9 5.6 5.7 5.9 4.6 11.9 3.4 3.7 0.0 10

 11 Foreign loans to U.S. corporate business -44.0 -20.2 33.9 -52.2 -3.5 29.9 64.2 -4.7 14.1 46.1 10.5 11

 12 Liab.: Nonfinancial corporate business -44.0 -20.2 33.9 -52.2 -3.5 29.9 64.2 -4.7 14.1 46.1 10.5 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans -3.2 4.3 4.0 16.7 -2.8 -10.9 -10.7 -35.6 -1.1 3.9 -9.9 17

 18 Liab.: Nonfinancial corporate business -3.2 4.3 4.0 14.3 -0.7 -10.1 -6.6 -35.3 0.4 1.1 -9.1 18

 19 Rest of the world 0.0 0.0 0.0 2.4 -2.0 -0.8 -4.0 -0.4 -1.6 2.8 -0.8 19

 20 Policy loans (Household liability) 0.7 3.4 2.4 1.4 0.9 1.7 -0.2 1.2 3.1 2.5 1.0 20

 21 Asset: Federal government -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 21

 22 Life insurance companies 0.7 3.4 2.5 1.4 1.0 1.7 -0.2 1.3 3.1 2.6 1.0 22

 23 Govt.-sponsored enterprises loans (1) -284.8 -144.7 -64.2 18.6 81.9 84.3 11.6 157.7 92.1 75.7 -68.1 23

 24 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) -0.4 1.6 -0.9 0.7 0.1 1.6 3.9 0.7 0.2 1.3 -0.5 25

 26 Nonfinancial noncorporate business (FCS) 0.2 5.7 -2.6 7.6 2.8 9.6 -8.3 12.8 12.7 21.3 -23.3 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) -263.9 -148.3 -60.5 4.6 69.2 52.3 6.7 126.0 52.7 23.8 -56.8 27

 28 Credit unions (FHLB) -14.1 -0.4 -2.0 0.9 1.9 8.4 1.7 10.2 12.7 9.0 -2.0 28

 29 Life insurance companies (FHLB) -6.6 -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 29

 30 Securitized loans held by ABS issuers -23.7 -4.9 -3.9 1.7 0.2 -1.9 -0.4 -2.6 -4.7 0.0 0.0 30

 31 Liab.: Nonfinancial corporate business -23.7 -4.9 -3.9 1.7 0.2 -1.9 -0.4 -2.6 -4.7 0.0 0.0 31

 32 Finance company loans to business -91.0 -15.2 3.0 11.2 14.4 11.5 2.6 24.8 6.3 12.3 26.2 32

 33 Liab.: Nonfinancial corporate business -81.9 -13.7 2.7 10.1 12.9 10.3 2.3 22.3 5.7 11.1 23.6 33

 34 Nonfinancial noncorporate business -9.1 -1.5 0.3 1.1 1.4 1.1 0.3 2.5 0.6 1.2 2.6 34

 35 Loans to nonfinancial corporate business (2) -67.1 -53.3 24.9 -13.5 43.9 34.7 90.1 -47.5 54.3 42.0 3.2 35

 36 Asset: Household sector -5.3 -0.6 -2.8 -2.5 5.0 -1.6 3.0 -17.7 3.2 5.0 0.5 36

 37 Life insurance companies -13.3 -3.7 5.4 0.4 2.6 6.3 8.2 4.2 7.3 5.3 -4.4 37

 38 Mutual funds 1.3 -0.8 18.9 12.2 39.4 9.4 60.3 -14.6 9.8 -17.6 3.4 38

 39 ABS issuers -27.4 -34.0 -1.5 -2.3 -11.7 11.0 18.4 -13.9 24.7 14.9 5.8 39

 40 Brokers and dealers -12.7 -12.7 6.9 -14.8 10.9 8.2 -2.7 -0.3 8.4 27.3 2.2 40

 41 Funding corporations -9.8 -1.5 -2.0 -6.5 -2.3 1.5 3.0 -5.1 1.0 7.1 -4.3 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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F.217 Total Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in mortgages -51.5 -316.1 -158.2 -68.5 103.8 214.1 31.0 179.4 271.6 374.6 148.3 1

 2 Home 23.9 -161.7 -91.8 -77.6 0.9 49.3 -45.9 44.8 92.0 106.2 -20.8 2

 3 Multifamily residential 7.0 -4.3 4.0 32.9 37.1 68.0 40.8 51.2 73.2 107.0 86.7 3

 4 Commercial -93.7 -158.1 -83.5 -29.7 60.7 92.2 31.6 78.8 101.7 156.8 78.6 4

 5 Farm 11.3 8.1 13.1 5.8 5.1 4.6 4.5 4.6 4.6 4.6 3.6 5

 6 Net borrowing -51.5 -316.1 -158.2 -68.5 103.8 214.1 31.0 179.4 271.6 374.6 148.3 6

 7 Household sector 70.0 -179.0 -79.4 -67.5 8.2 49.6 -46.1 43.1 89.2 112.3 -20.4 7

 8 Nonfinancial business -133.3 -137.9 -92.3 -5.9 87.9 150.7 64.5 129.8 176.9 231.8 151.5 8

 9 Corporate -143.5 -130.5 -61.3 -64.3 21.2 11.7 -0.9 16.4 32.8 -1.6 -2.9 9

 10 Noncorporate 10.2 -7.3 -30.9 58.4 66.7 139.0 65.3 113.4 144.1 233.3 154.4 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 11.8 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.2 12

 13 Net change in assets -51.5 -316.1 -158.2 -68.5 103.8 214.1 31.0 179.4 271.6 374.6 148.3 13

 14 Household sector -0.9 -10.9 0.9 -13.8 -10.9 -7.4 -6.9 -8.2 -8.0 -6.6 -8.6 14

 15 Nonfinancial corporate business -4.1 -1.6 -0.6 -1.9 1.8 1.8 1.8 1.8 1.8 1.8 1.8 15

 16 Nonfinancial noncorporate business -1.2 4.2 -5.8 -2.4 1.0 1.8 0.7 1.9 1.4 3.1 2.4 16

 17 Federal government 12.6 -5.4 3.3 1.6 4.0 1.7 1.9 2.3 2.9 -0.3 3.5 17

 18 State and local governments 8.9 14.3 -0.2 5.7 1.6 13.5 14.4 21.8 1.7 16.0 40.2 18

 19 U.S.-chartered depository institutions -178.1 -149.2 -105.3 13.7 -26.6 117.9 176.8 184.6 30.2 79.9 291.9 19

 20 Foreign banking offices in U.S. -6.4 -2.5 -2.6 -1.9 -0.6 7.3 7.8 7.8 5.1 8.3 -0.6 20

 21 Banks in U.S.-affiliated areas -0.3 -6.5 -2.4 1.5 -2.5 -2.1 -1.8 -0.8 -3.3 -2.3 -10.4 21

 22 Credit unions 5.4 0.9 4.5 8.3 18.6 26.9 22.4 25.7 34.8 24.4 18.4 22

 23 Property-casualty insurance companies -0.5 -0.3 0.8 0.7 2.3 2.0 1.3 2.1 2.3 2.4 1.9 23

 24 Life insurance companies -16.3 -8.6 15.0 11.9 18.8 21.6 14.2 17.1 17.0 38.0 25.3 24

 25 Private pension funds -2.4 2.8 -4.6 1.2 -3.4 -0.2 -2.9 3.5 4.0 -5.3 -3.1 25

 26 State and local govt. retirement funds -2.7 -0.4 -0.5 -1.1 -0.7 0.5 1.4 0.9 0.3 -0.7 -1.4 26

 27 Government-sponsored enterprises (1) 2.4 -71.0 -60.5 -71.4 72.5 4.3 -180.6 -19.6 114.2 103.0 -105.1 27

 28 Agency- and GSE-backed mortgage pools 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 28

 29 ABS issuers -248.1 -213.3 -146.2 -136.0 -217.6 -74.5 -177.9 -65.5 -22.8 -31.7 -73.5 29

 30 Finance companies -47.8 -54.2 -30.9 -25.7 -21.9 -8.7 -13.0 -18.0 -10.0 6.0 -11.6 30

 31 REITs -30.2 -1.3 11.7 8.6 135.0 32.7 94.0 -6.1 16.6 26.1 -21.9 31
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F.218 Home Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing 23.9 -161.7 -91.8 -77.6 0.9 49.3 -45.9 44.8 92.0 106.2 -20.8 1

 2 Household sector 66.3 -182.1 -73.1 -65.2 3.4 41.8 -48.5 35.5 81.4 98.9 -28.3 2

 3 Nonfinancial corporate business -12.4 -6.8 -3.4 -0.5 0.3 1.5 1.7 2.0 1.5 0.8 2.0 3

 4 Nonfinancial noncorporate business -30.0 27.1 -15.4 -11.9 -2.7 6.0 1.0 7.3 9.1 6.5 5.6 4

 5 Net change in assets 23.9 -161.7 -91.8 -77.6 0.9 49.3 -45.9 44.8 92.0 106.2 -20.8 5

 6 Household sector -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 6

 7 Nonfinancial corporate business -2.5 -0.9 -0.3 -2.0 3.2 3.2 3.2 3.2 3.2 3.2 3.2 7

 8 Nonfinancial noncorporate business -0.4 1.5 -2.1 -0.9 0.4 0.7 0.2 0.7 0.5 1.1 0.9 8

 9 Federal government 5.7 -1.8 0.2 1.1 0.4 1.2 1.0 -0.9 1.0 3.6 3.5 9

 10 State and local governments 6.3 8.8 1.1 3.9 1.4 7.3 7.7 11.6 1.2 8.5 21.3 10

 11 U.S.-chartered depository institutions -125.9 -48.9 -37.6 5.5 -96.2 18.2 99.4 80.6 -52.7 -54.3 183.8 11

 12 Foreign banking offices in U.S. -6.0 0.1 0.3 0.5 -0.4 1.5 1.0 1.2 2.1 1.6 -0.5 12

 13 Banks in U.S.-affiliated areas -0.3 -2.5 -2.4 2.3 -1.1 -1.5 -2.2 -0.3 -2.7 -1.0 -3.6 13

 14 Credit unions 5.4 0.9 4.5 8.3 18.6 26.9 22.4 25.7 34.8 24.4 18.4 14

 15 Life insurance companies 0.2 0.3 -0.1 0.5 0.8 3.5 2.9 2.9 3.6 4.7 -1.3 15

 16 Private pension funds 0.7 -0.1 -0.3 -0.1 -0.2 0.0 -0.1 0.2 0.3 -0.4 -0.2 16

 17 State and local govt. retirement funds -1.0 -0.1 -0.2 -0.4 -0.2 0.2 0.5 0.3 0.1 -0.3 -0.5 17

 18 Government-sponsored enterprises -23.2 -76.4 -66.5 -82.5 87.1 4.5 -164.7 -3.6 103.3 83.1 -133.7 18

 19 Agency- and GSE-backed mortgage pools 445.6 175.8 148.0 105.0 98.8 51.1 57.9 5.6 61.1 80.0 -15.1 19

 20 ABS issuers -202.1 -160.8 -120.9 -106.7 -83.0 -63.4 -62.1 -71.3 -70.6 -49.5 -73.0 20

 21 Finance companies -45.2 -49.8 -18.4 -11.1 -17.3 -9.8 -14.2 -10.0 -13.7 -1.4 -13.1 21

 22 REITs -25.2 0.2 11.0 6.9 -3.3 13.9 9.1 6.8 28.7 10.8 -2.8 22

 Memo:

 23 Charge-offs (2) 239.2 186.2 154.1 142.2 92.3 52.3 14.7 13.5 12.0 12.1 17.6 23

 24 Home equity loans included above (3) -46.2 -52.8 -53.9 -62.7 -56.4 -24.8 -42.4 -20.9 -14.7 -21.2 -45.3 24

 25 U.S.-chartered depository institutions -21.9 -31.8 -41.1 -51.7 -46.9 -22.9 -36.0 -18.4 -17.5 -19.6 -38.7 25

 26 Foreign banking offices in U.S. -0.6 0.0 -0.0 -0.0 0.1 0.1 0.0 0.0 -0.1 0.3 -0.0 26

 27 Credit unions -4.1 -6.4 -6.0 -6.5 -3.7 1.7 -2.2 1.2 6.3 1.3 -2.1 27

 28 ABS issuers -10.1 -5.4 -2.7 -2.0 -2.3 -1.6 -1.6 -1.7 -1.6 -1.4 -1.7 28

 29 Finance companies -9.6 -9.3 -4.0 -2.4 -3.6 -2.0 -2.6 -2.0 -1.9 -1.6 -2.8 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from the flow (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 7.0 -4.3 4.0 32.9 37.1 68.0 40.8 51.2 73.2 107.0 86.7 1

 2 Nonfinancial corporate business 0.2 -0.2 0.2 1.7 1.7 3.4 2.1 2.5 3.7 5.1 4.2 2

 3 Nonfinancial noncorporate business 4.5 -4.5 3.7 32.4 32.1 63.7 40.4 46.7 70.2 97.4 79.4 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 2.3 0.4 0.1 -1.1 3.3 1.0 -1.8 2.1 -0.6 4.4 3.2 5

 6 Net change in assets 7.0 -4.3 4.0 32.9 37.1 68.0 40.8 51.2 73.2 107.0 86.7 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 8

 9 Nonfinancial noncorporate business -0.4 1.5 -2.0 -0.8 0.3 0.6 0.2 0.7 0.5 1.1 0.8 9

 10 Federal government 0.1 -0.3 -0.3 -0.3 0.0 -0.6 -0.2 -0.4 -1.0 -0.8 -0.3 10

 11 State and local governments 2.2 4.5 -1.0 1.5 0.2 5.1 5.5 8.5 0.4 6.1 15.6 11

 12 U.S.-chartered depository institutions -9.0 -12.2 -6.6 10.2 29.4 38.0 37.7 41.8 34.4 38.1 35.9 12

 13 Foreign banking offices in U.S. -0.4 -0.5 -0.6 -1.5 -0.4 0.2 -0.5 0.0 0.2 1.0 0.6 13

 14 Life insurance companies -3.2 -1.3 2.1 1.7 2.5 2.8 0.7 2.4 2.9 5.1 2.9 14

 15 Private pension funds 0.3 0.4 -0.3 -0.3 -0.3 -0.0 -0.4 0.4 0.4 -0.6 -0.3 15

 16 State and local govt. retirement funds -0.8 -0.1 -0.2 -0.3 -0.2 0.1 0.4 0.3 0.1 -0.2 -0.4 16

 17 Government-sponsored enterprises 14.2 2.0 2.8 6.2 -21.9 -2.7 -18.5 -18.4 8.6 17.3 25.4 17

 18 Agency- and GSE-backed mortgage pools 13.0 11.3 19.4 27.0 33.7 24.3 19.7 22.3 22.5 32.8 14.4 18

 19 ABS issuers -6.1 -8.6 -7.7 -9.6 -5.9 -1.6 -3.1 -6.6 0.2 3.0 -8.4 19

 20 Finance companies -0.7 -0.7 -1.5 -0.8 -0.8 0.1 0.1 0.2 -0.3 0.3 0.0 20

 21 REITs -2.0 -0.3 -0.2 0.1 0.5 1.8 -0.8 0.2 4.3 3.6 0.5 21
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F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing -93.7 -158.1 -83.5 -29.7 60.7 92.2 31.6 78.8 101.7 156.8 78.6 1

 2 Household sector 3.8 3.0 -6.3 -2.3 4.8 7.8 2.5 7.6 7.7 13.5 7.9 2

 3 Nonfinancial corporate business -135.4 -126.6 -62.7 -67.8 17.4 4.6 -6.7 9.6 25.4 -9.9 -11.3 3

 4 Nonfinancial noncorporate business 28.5 -35.0 -27.9 34.4 34.0 67.0 21.4 57.1 62.4 127.2 68.1 4

 5 REITs 9.5 0.4 13.3 6.0 4.5 12.7 14.4 4.4 6.1 26.1 14.0 5

 6 Net change in assets -93.7 -158.1 -83.5 -29.7 60.7 92.2 31.6 78.8 101.7 156.8 78.6 6

 7 Household sector -0.7 -1.1 -0.6 -0.3 0.4 1.4 1.2 1.2 1.5 1.7 1.9 7

 8 Nonfinancial corporate business -1.6 -0.6 -0.2 0.1 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3 8

 9 Nonfinancial noncorporate business -0.3 1.1 -1.6 -0.7 0.3 0.5 0.2 0.5 0.4 0.9 0.7 9

 10 Federal government 6.4 -3.7 3.2 0.8 3.9 0.2 0.8 2.7 0.9 -3.6 -0.4 10

 11 State and local governments 0.4 0.9 -0.2 0.3 0.0 1.0 1.1 1.7 0.1 1.2 3.1 11

 12 U.S.-chartered depository institutions -36.8 -95.1 -62.9 -8.1 38.8 60.1 38.2 60.7 46.9 94.5 70.4 12

 13 Foreign banking offices in U.S. 0.1 -2.1 -2.3 -0.9 0.2 5.5 7.2 5.9 2.9 5.7 -0.8 13

 14 Banks in U.S.-affiliated areas -0.0 -4.0 -0.1 -0.8 -1.4 -0.5 0.4 -0.5 -0.6 -1.3 -6.7 14

 15 Property-casualty insurance companies -0.5 -0.3 0.8 0.7 2.3 2.0 1.3 2.1 2.3 2.4 1.9 15

 16 Life insurance companies -11.5 -6.8 12.3 9.8 15.4 14.9 10.2 11.5 10.2 27.8 23.4 16

 17 Private pension funds -3.5 2.5 -4.0 1.6 -2.8 -0.2 -2.4 2.9 3.3 -4.4 -2.6 17

 18 State and local govt. retirement funds -0.9 -0.1 -0.2 -0.4 -0.2 0.2 0.5 0.3 0.1 -0.3 -0.5 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers -39.9 -43.9 -17.6 -19.7 -128.7 -9.5 -112.7 12.4 47.6 14.8 7.8 20

 21 Finance companies -1.9 -3.7 -11.0 -13.8 -3.8 1.0 1.2 -8.2 4.0 7.1 1.4 21

 22 REITs -2.9 -1.2 0.9 1.5 137.7 17.0 85.8 -13.1 -16.5 11.6 -19.6 22

F.221 Farm Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 11.3 8.1 13.1 5.8 5.1 4.6 4.5 4.6 4.6 4.6 3.6 1

 2 Nonfinancial corporate business 4.0 3.1 4.5 2.3 1.8 2.2 2.0 2.2 2.2 2.3 2.3 2

 3 Nonfinancial noncorporate business 7.3 5.0 8.6 3.5 3.3 2.4 2.5 2.4 2.4 2.3 1.4 3

 4 Net change in assets 11.3 8.1 13.1 5.8 5.1 4.6 4.5 4.6 4.6 4.6 3.6 4

 5 Household sector 7.8 -1.7 9.5 -5.5 -3.3 -0.8 -0.1 -1.4 -1.5 -0.3 -2.5 5

 6 Nonfinancial noncorporate business -0.0 0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 6

 7 Federal government 0.4 0.4 0.3 0.1 -0.3 0.9 0.3 1.0 2.1 0.5 0.7 7

 8 State and local governments 0.0 0.1 -0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.1 0.2 8

 9 U.S.-chartered depository institutions -6.4 7.0 1.7 6.1 1.4 1.6 1.5 1.6 1.6 1.6 1.8 9

 10 Foreign banking offices in U.S. -0.0 0.0 -0.0 0.0 -0.0 0.2 0.0 0.7 -0.1 -0.0 0.0 10

 11 Life insurance companies -1.7 -0.9 0.6 0.0 0.1 0.3 0.3 0.3 0.3 0.3 0.4 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 11.4 3.4 3.3 4.9 7.4 2.4 2.5 2.4 2.3 2.6 3.2 13

 14 Agency- and GSE-backed mortgage pools -0.2 -0.2 -2.1 0.3 -0.2 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 14

(1) Excludes mortgages on farm houses.
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F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities (Households) -103.6 -25.3 108.6 169.4 175.9 218.4 194.0 257.8 222.8 199.0 186.8 1

 2 Net change in assets -103.6 -25.3 108.6 169.4 175.9 218.4 194.0 257.8 222.8 199.0 186.8 2

 3 Households (nonprofit organizations) (1) -5.8 -10.4 -3.9 -8.8 -6.3 -5.7 -4.9 -4.4 -7.3 -6.4 -6.7 3

 4 Nonfinancial corporate business -2.0 -11.4 2.0 1.5 -4.2 -1.3 14.2 8.2 -9.6 -18.0 13.6 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 87.9 133.1 128.5 132.1 113.1 111.1 121.2 104.7 112.7 105.8 117.3 6

 7 U.S.-chartered depository institutions -64.5 -70.3 7.1 28.1 52.9 71.5 40.8 95.2 81.2 68.9 21.8 7

 8 Credit unions 0.9 -10.7 -3.4 20.6 21.9 37.2 32.4 47.1 29.5 39.8 39.6 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers -37.8 -42.3 -4.1 3.8 -0.8 0.6 -2.6 -3.6 7.8 0.9 -2.7 10

 11 Finance companies -82.4 -13.4 -17.4 -7.8 -0.6 5.0 -7.1 10.7 8.4 8.0 3.9 11

 Memo:

 12 Credit card loans (3) -87.9 -69.9 1.8 4.7 12.3 31.8 11.0 59.4 30.6 26.2 3.6 12

 13 Auto loans -58.2 -40.6 17.1 60.0 69.6 79.0 72.5 84.4 77.5 81.5 74.7 13

 14 Student loans (4) 101.0 80.8 99.9 119.0 91.7 102.3 89.7 105.1 111.1 103.1 75.6 14

 15 Other consumer credit (5) -58.4 4.3 -10.2 -14.3 2.3 5.4 20.8 8.9 3.6 -11.8 32.9 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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F.223 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in trade payables 7.8 154.9 128.6 139.0 185.8 161.3 61.8 254.4 154.7 174.3 164.8 1

 2 Household sector 41.4 -29.4 1.2 4.0 1.0 3.1 4.0 3.6 1.9 3.0 1.4 2

 3 Nonfinancial corporate business -82.6 156.3 25.2 66.2 105.4 84.2 48.9 130.7 70.2 86.9 62.2 3

 4 Nonfinancial noncorporate business 16.9 30.3 54.8 16.0 16.4 25.3 10.6 29.2 17.9 43.4 56.8 4

 5 Federal government -56.2 5.2 8.8 13.4 19.6 17.5 4.5 33.0 23.2 9.2 -4.7 5

 6 State and local governments 38.9 38.5 38.4 38.8 39.6 40.7 40.0 40.7 41.1 41.1 40.1 6

 7 Brokers and dealers 48.9 -52.0 -3.8 -0.0 0.3 3.4 1.0 11.9 8.4 -7.8 5.1 7

 8 Rest of the world 0.5 6.0 4.0 0.7 3.4 -12.8 -47.1 5.3 -8.0 -1.5 3.9 8

 9 Net change in trade receivables -114.9 165.1 171.4 74.8 316.0 153.8 122.9 231.5 103.9 156.8 184.5 9

 10 Nonfinancial corporate business -31.2 105.7 83.7 52.0 277.2 108.8 49.2 160.5 106.4 119.2 104.0 10

 11 Nonfinancial noncorporate business -26.3 37.0 61.0 4.6 17.4 31.6 12.0 34.3 24.7 55.2 42.1 11

 12 Federal government -21.1 -0.7 4.8 2.6 3.3 -2.7 8.1 -2.8 -0.7 -15.1 11.2 12

 13 State and local governments -4.6 13.1 5.6 5.6 8.5 7.7 2.1 13.5 6.1 9.0 6.4 13

 14 Property-casualty insurance companies -3.7 0.8 3.4 4.8 3.3 5.5 19.3 15.2 -2.0 -10.3 21.3 14

 15 ABS issuers -34.3 -9.5 -4.2 -6.4 -5.4 -4.4 -5.7 -1.6 -11.6 1.2 -0.0 15

 16 Rest of the world 6.3 18.6 17.1 11.6 11.9 7.2 37.9 12.5 -18.9 -2.4 -0.4 16

 17 Discrepancy 122.7 -10.2 -42.8 64.2 -130.3 7.5 -61.0 22.9 50.7 17.5 -19.8 17

F.224 Security Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in liabilities -5.4 105.0 -7.4 97.7 104.3 95.8 147.5 225.5 172.7 -162.6 -53.2 1

 2 Household sector 38.1 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 2

 3 Brokers and dealers -43.5 29.8 31.9 32.8 68.9 65.4 221.8 6.3 113.4 -79.7 7.7 3

 4 Net change in assets -5.4 105.0 -7.4 97.7 104.3 95.8 147.5 225.5 172.7 -162.6 -53.2 4

 5 Household sector -35.7 23.5 0.9 42.0 58.5 53.5 202.8 1.6 103.6 -94.0 6.3 5

 6 U.S.-chartered depository institutions -3.4 3.2 12.2 -1.9 7.9 8.2 21.9 10.6 -2.7 2.9 1.6 6

 7 Foreign banking offices in U.S. -4.5 3.1 18.8 -7.3 2.5 3.8 -2.9 -5.9 12.5 11.4 -0.2 7

 8 Brokers and dealers 38.1 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 8

F.225 Life Insurance Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in liabilities 27.4 14.4 81.1 -11.9 30.0 56.3 41.7 52.6 56.2 74.5 87.1 1

 2 Federal government 1.1 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 2

 3 Life insurance companies 26.3 13.6 79.9 -12.2 29.8 55.5 41.8 52.1 55.0 73.1 89.1 3

 4 Net change in assets 27.4 14.4 81.1 -11.9 30.0 56.3 41.7 52.6 56.2 74.5 87.1 4

 5 Households 24.6 6.2 73.5 -26.6 19.2 45.3 31.3 41.4 46.4 62.2 77.7 5

 6 U.S.-chartered depository institutions 0.8 4.5 5.2 7.4 5.7 5.9 5.6 6.0 5.0 6.9 5.2 6

 7 Holding companies 2.1 3.8 2.4 7.3 5.1 5.0 4.7 5.3 4.8 5.3 4.2 7
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F.226 Pension Entitlements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 1

 2 Life insurance companies (1) -80.0 72.1 85.7 80.5 53.8 70.9 52.5 55.2 88.9 87.0 44.9 2

 3 Private pension funds (2) 153.7 177.9 95.6 114.0 127.8 135.1 126.3 161.8 107.2 144.9 147.5 3

 4 Federal government retirement funds (3) 93.7 102.1 113.0 102.0 109.9 115.8 108.0 103.8 121.6 130.0 106.6 4

 5 State and local govt. retirement funds 230.7 244.3 204.0 201.1 207.2 226.7 229.9 232.4 221.1 223.5 219.6 5

 6 Net change in assets (Households) (4) 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 6

 Memo:

 7 Individual Retirement Accounts (IRAs) at: (5) 207.0 213.4 380.0 261.0 229.9 240.5 223.6 345.8 365.8 26.8 ND 7

 8 U.S.-chartered depository institutions 30.7 26.6 20.3 24.4 -0.4 0.1 -27.0 -6.9 15.4 19.0 ND 8

 9 Credit unions 8.7 3.0 1.2 1.4 -0.7 -1.6 -1.2 -1.5 -1.5 -2.1 ND 9

 10 Life insurance companies -4.9 19.5 14.4 22.1 19.2 27.8 14.7 21.6 1.8 73.3 ND 10

 11 Money market mutual funds -42.0 -24.0 9.0 6.0 13.0 -11.0 -16.0 -16.0 8.0 -20.0 ND 11

 12 Mutual funds 176.7 158.1 67.3 126.7 131.5 86.1 153.1 212.2 -16.4 -4.6 ND 12

 13 Other self-directed accounts 37.6 30.2 267.8 80.3 67.2 139.0 100.0 136.4 358.4 -38.8 ND 13

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Assets of the household sector (F.101). Figures for depositories (lines 8 and 9) include Keogh accounts. Variable annuities in IRAs are included in the life insurance sector (line 10)

 and excluded from the money market mutual fund and mutual fund sectors (lines 11 and 12).

F.227 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in taxes payable by all -3.4 19.4 20.1 16.8 12.2 22.7 30.9 42.6 13.3 4.1 105.7 1

 businesses

 2 Nonfinancial corporate business -3.3 7.2 8.8 2.3 -9.1 0.4 -18.3 7.8 18.4 -6.4 51.5 2

 3 Nonfinancial noncorporate business -6.3 -0.7 0.6 7.6 3.6 6.5 2.5 7.0 5.1 11.3 18.6 3

 4 U.S.-chartered depository institutions 7.3 6.6 10.6 7.0 0.1 15.2 31.1 29.0 -11.6 12.3 19.1 4

 5 Property-casualty insurance companies 5.3 5.6 -4.4 3.8 19.1 1.9 7.3 -2.8 3.0 0.4 1.4 5

 6 Life insurance companies -7.0 2.6 5.2 -4.6 -2.3 -1.9 5.0 -1.0 -3.4 -8.3 10.0 6

 7 Finance companies -2.8 0.3 0.5 0.2 0.1 0.3 0.1 0.1 0.8 0.3 1.8 7

 8 Brokers and dealers 3.2 -2.1 -1.1 0.5 0.6 0.3 3.2 2.5 1.1 -5.5 3.3 8

 9 Net change in business taxes receivable 30.1 28.1 28.1 36.5 31.4 59.4 54.0 116.5 28.0 39.3 175.9 9

 10 Federal government 35.9 27.1 25.6 27.9 27.8 53.0 60.1 94.6 30.2 26.9 167.8 10

 11 State and local governments -5.8 1.0 2.5 8.6 3.6 6.5 -6.0 21.9 -2.3 12.3 8.1 11

 12 Discrepancy -33.5 -8.6 -8.1 -19.7 -19.2 -36.7 -23.1 -73.9 -14.6 -35.1 -70.2 12

F.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total household investment -107.6 167.2 161.0 133.5 75.6 50.6 73.9 31.5 63.0 33.9 16.9 1

 2 Nonfinancial noncorporate business -108.2 166.4 163.8 126.8 79.5 48.3 70.9 33.2 56.3 32.8 16.2 2

 3 Brokers and dealers 0.6 0.9 -2.9 6.7 -3.9 2.3 3.0 -1.8 6.7 1.1 0.8 3
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F.229 Direct Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 310.4 301.1 419.1 333.0 349.5 358.0 195.6 338.0 385.5 512.6 385.7 1

 2 Equity 262.1 343.0 401.5 319.0 352.1 361.8 212.5 349.1 404.0 481.6 364.3 2

 3 Equity (other than reinvested earnings) 34.6 40.6 89.1 28.6 14.4 5.5 -110.0 -15.0 35.2 111.8 75.5 3

 4 Reinvested earnings 227.4 302.5 312.4 290.4 337.7 356.3 322.5 364.2 368.8 369.8 288.8 4

 5 Of which: Current-cost adjustment 22.5 23.3 22.5 21.6 21.2 21.0 21.0 21.0 21.0 21.0 21.0 5

 6 Intercompany debt (2) 48.3 -42.0 17.5 14.0 -2.6 -3.9 -16.9 -11.1 -18.5 31.0 21.4 6

 7 U.S. parents’ claims 52.5 1.5 42.2 17.1 23.3 9.6 -0.4 5.1 19.3 14.3 27.6 7

 8 Less: U.S. parents’ liabilities 4.2 43.5 24.7 3.1 25.9 13.5 16.5 16.2 37.8 -16.7 6.2 8

 9 Asset: Nonfinancial corporate business 269.7 303.3 403.9 315.9 317.4 330.3 160.8 324.9 340.0 495.4 388.9 9

 10 Of which: Current-cost adjustment 22.5 23.3 22.5 21.6 21.2 21.0 21.0 21.0 21.0 21.0 21.0 10

 11 U.S.-chartered depository institutions -0.8 2.7 -6.2 -2.6 3.5 5.2 -5.4 0.4 18.6 7.1 -15.6 11

 12 Property-casualty insurance companies 16.3 -22.2 1.1 0.2 14.1 5.2 3.2 4.0 7.5 6.0 9.1 12

 13 Life insurance companies 1.6 1.9 3.3 5.2 1.2 1.6 -0.3 -1.8 4.5 3.9 8.1 13

 14 Finance companies 11.0 6.8 12.0 7.7 4.0 6.3 28.5 9.4 6.4 -18.9 -25.2 14

 15 Brokers and dealers 12.5 8.7 4.9 6.7 9.2 9.4 9.0 1.0 8.6 19.1 20.4 15

 Foreign direct investment in U.S.:

 16 Liab.: Nonfinancial corporate business 104.6 157.0 192.7 170.1 207.1 79.8 -446.4 259.6 328.8 177.1 312.8 16

 17 Of which: Current-cost adjustment 6.8 7.8 6.2 5.6 5.5 5.5 5.5 5.5 5.4 5.4 5.4 17

 18 Nonfinancial noncorporate business 0.1 0.3 0.0 0.6 0.5 0.9 1.0 0.8 0.8 1.0 0.9 18

 19 Foreign banking offices in U.S. 16.6 12.4 26.0 -0.8 4.0 3.1 3.7 2.7 -6.1 12.1 2.8 19

 20 Property-casualty insurance companies 2.4 2.8 -2.2 -5.3 6.8 0.9 -2.1 -3.1 9.3 -0.2 9.9 20

 21 Life insurance companies 11.1 6.3 -5.4 1.4 5.1 8.9 5.8 9.2 15.5 5.2 12.5 21

 22 Finance companies 12.8 13.2 6.1 -0.8 0.5 0.1 1.6 3.2 -6.9 2.5 -5.7 22

 23 Brokers and dealers 2.1 13.2 18.2 9.4 11.6 3.5 8.8 3.0 1.9 0.2 -2.6 23

 24 Funding corporations 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 24

 25 Asset: Rest of the world (1) 150.4 205.9 236.1 175.2 236.3 97.8 -427.0 276.1 343.9 198.4 331.1 25

 26 Equity 148.5 203.1 185.1 191.4 226.8 77.2 -399.1 254.6 249.4 203.7 250.7 26

 27 Equity (other than reinvested earnings) 126.8 140.5 106.5 93.9 126.9 -26.5 -478.0 139.7 154.8 77.5 130.1 27

 28 Reinvested earnings 21.7 62.7 78.6 97.5 99.9 103.6 78.9 114.8 94.6 126.2 120.6 28

 29 Of which: Current-cost adjustment 6.8 7.8 6.2 5.6 5.5 5.5 5.5 5.5 5.4 5.4 5.4 29

 30 Intercompany debt 2.0 2.7 51.0 -16.2 9.4 20.7 -27.9 21.5 94.5 -5.3 40.4 30

 31 U.S. affiliates’ liabilities 1.1 12.7 47.7 23.3 42.3 2.4 -101.7 41.3 58.2 11.9 64.0 31

 32 Less: U.S. affiliates’ claims -0.9 10.0 -3.4 39.5 32.8 -18.3 -73.7 19.7 -36.2 17.2 23.6 32

 Memo:

 Direct investment, asset/liability presentation:

 33 Net U.S. acquisition of direct investment assets 313.7 354.6 440.4 375.5 408.2 353.2 138.4 374.0 387.1 513.1 415.5 33

 34 Equity (line 2) 262.1 343.0 401.5 319.0 352.1 361.8 212.5 349.1 404.0 481.6 364.3 34

 35 Intercompany debt 51.7 11.5 38.9 56.5 56.1 -8.7 -74.1 24.9 -16.9 31.5 51.2 35

 36 U.S. parents’ claims (line 7) 52.5 1.5 42.2 17.1 23.3 9.6 -0.4 5.1 19.3 14.3 27.6 36

 37 U.S. affiliates’ claims (line 32) -0.9 10.0 -3.4 39.5 32.8 -18.3 -73.7 19.7 -36.2 17.2 23.6 37

 38 Net U.S. incurrence of direct investment liabilities 153.8 259.3 257.4 217.8 295.0 93.1 -484.2 312.1 345.4 198.9 320.8 38

 39 Equity (line 26) 148.5 203.1 185.1 191.4 226.8 77.2 -399.1 254.6 249.4 203.7 250.7 39

 40 Intercompany debt 5.3 56.2 72.4 26.4 68.1 15.9 -85.2 57.5 96.0 -4.8 70.2 40

 41 U.S. parents’ liabilities (line 8) 4.2 43.5 24.7 3.1 25.9 13.5 16.5 16.2 37.8 -16.7 6.2 41

 42 U.S. affiliates’ liabilities (line 31) 1.1 12.7 47.7 23.3 42.3 2.4 -101.7 41.3 58.2 11.9 64.0 42

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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F.230 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 245.3 593.8 1158.3 1008.3 1134.9 1442.4 2230.7 1523.5 1026.4 989.1 1706.0 1

 2 Household sector -4.9 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 2

 3 Nonfinancial corporate business 142.4 488.7 827.3 728.9 622.5 672.8 915.6 693.0 634.5 448.2 681.6 3

 4 Nonfinancial noncorporate business 32.6 -54.3 -21.0 51.8 -85.4 6.5 -9.9 8.9 0.8 26.4 59.3 4

 5 Federal government 97.0 110.7 123.7 95.7 104.8 108.1 79.2 121.7 81.6 149.9 304.0 5

 6 State and local governments 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 6

 7 Monetary authority 4.9 28.7 -27.2 4.0 9.8 3.5 61.2 -25.1 -58.0 35.7 58.5 7

 8 U.S.-chartered depository institutions 358.2 -8.9 -94.9 147.1 120.1 313.6 331.5 194.0 447.2 281.5 114.0 8

 9 Foreign banking offices in U.S. -158.9 -30.5 10.1 -35.7 -33.2 -11.7 5.7 -13.6 63.2 -102.2 11.4 9

 10 Banks in U.S.-affiliated areas 4.3 -5.9 -3.9 -2.0 -3.0 -1.6 2.1 1.7 -10.5 0.2 -3.4 10

 11 Credit unions 14.7 -8.3 1.3 0.3 1.5 1.2 -5.8 13.8 0.4 -3.6 3.5 11

 12 Property-casualty insurance companies -5.0 6.3 35.2 -1.0 -0.3 14.8 3.8 34.3 26.8 -5.8 -11.2 12

 13 Life insurance companies 89.9 60.7 48.0 27.4 3.0 42.4 83.7 103.4 -35.0 17.6 81.1 13

 14 Government-sponsored enterprises 62.3 -42.2 -49.2 -6.1 -9.4 -3.6 -13.8 -0.7 6.8 -6.9 -4.2 14

 15 Finance companies -104.1 -71.7 -19.1 -24.7 -26.4 -15.2 -10.1 7.4 -93.0 34.9 7.5 15

 16 REITs -5.3 4.1 7.1 25.4 -21.7 11.8 26.1 17.7 1.9 1.5 -4.7 16

 17 Brokers and dealers 61.7 9.0 -19.4 -7.7 41.3 -19.9 174.1 45.7 -75.5 -223.9 176.0 17

 18 Holding companies -26.9 -68.5 -36.2 -98.6 222.0 -31.1 57.7 97.0 -197.9 -81.2 -256.0 18

 19 Funding corporations -103.2 -105.1 -85.1 -68.6 -64.3 -12.4 129.1 -173.3 -59.7 54.5 40.5 19

 20 Rest of the world -518.3 2.7 132.9 -140.0 -23.3 -2.0 -7.6 25.1 -25.2 -0.5 37.4 20

 21 Net change in assets -1.0 335.6 742.9 682.2 1311.5 1143.9 2177.4 1335.2 395.6 667.4 1567.8 21

 22 Household sector 34.9 8.3 70.7 -6.1 52.2 15.2 8.8 30.5 5.7 15.7 3.1 22

 23 Nonfinancial corporate business -167.9 214.8 23.6 110.4 291.6 158.4 385.3 303.4 90.4 -145.7 169.8 23

 24 Nonfinancial noncorporate business -92.5 105.0 102.1 222.9 41.7 132.8 54.6 143.9 105.4 227.4 162.5 24

 25 State and local governments 25.5 -21.9 -1.2 6.3 4.8 11.4 11.6 15.7 5.3 13.0 25.9 25

 26 Federal government 35.2 -3.6 2.0 -1.0 5.9 12.5 11.0 19.9 11.0 8.2 10.7 26

 27 Monetary authority -494.9 7.3 142.4 -25.6 32.3 -0.5 8.2 3.3 -8.8 -4.8 -32.5 27

 28 U.S.-chartered depository institutions 27.5 -99.7 -68.5 -9.7 -7.8 -8.5 145.0 131.3 -111.2 -199.3 204.0 28

 29 Foreign banking offices in U.S. -4.4 -15.3 15.0 -0.3 13.1 14.4 56.3 3.7 8.8 -11.3 17.8 29

 30 Banks in U.S.-affiliated areas -4.5 4.5 0.8 0.2 8.6 12.8 -12.5 20.3 -4.8 48.4 -8.2 30

 31 Credit unions 0.2 41.1 -12.1 0.8 -1.6 5.3 -6.8 20.5 -5.5 13.0 -14.9 31

 32 Life insurance companies -23.1 -7.6 52.4 31.2 24.4 73.0 67.0 55.1 36.7 133.1 92.8 32

 33 Private pension funds 192.9 8.6 50.2 35.2 39.0 86.2 93.1 39.7 76.5 135.4 91.4 33

 34 Federal government retirement funds 77.5 85.9 91.6 90.7 91.4 94.7 94.7 94.7 94.7 94.7 338.4 34

 35 State and local govt. retirement funds 316.7 305.4 319.7 301.9 278.8 378.2 419.4 394.2 323.9 375.1 405.8 35

 36 Money market mutual funds -8.3 -3.4 -0.8 6.1 2.8 -14.3 -61.8 -71.9 -24.4 101.0 -93.8 36

 37 Mutual funds -5.1 -12.0 2.9 -33.1 19.1 -4.3 130.7 -86.9 82.2 -143.0 0.0 37

 38 Government-sponsored enterprises 1.2 29.3 -0.1 4.1 13.1 -11.0 -54.1 -2.7 -8.6 21.5 40.2 38

 39 Finance companies 17.4 -110.1 -5.9 -33.4 -22.3 9.4 -44.8 8.8 -17.0 90.5 14.8 39

 40 REITs 10.2 1.3 8.5 25.8 12.2 16.9 39.3 44.8 14.9 -31.6 24.3 40

 41 Brokers and dealers 42.4 -112.9 -106.6 -68.1 147.7 47.1 633.0 -183.2 -131.9 -129.5 200.4 41

 42 Holding companies 85.4 -31.2 36.5 16.9 251.8 111.2 188.2 296.8 -185.0 145.0 -160.2 42

 43 Funding corporations -67.2 -58.4 19.6 7.2 13.0 3.0 11.0 53.1 37.2 -89.3 75.5 43

 44 Discrepancy 246.3 258.2 415.4 326.1 -176.7 298.5 53.3 188.3 630.8 321.7 138.2 44
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F.231 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 1.7 2.3 2.6 2.4 2.2 2.3 0.0 6.8 1.9 0.7 -0.2 1

 2 Asset: Federal government 1.7 2.3 2.6 2.4 2.2 2.3 0.0 6.8 1.9 0.7 -0.2 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 4.6 0.9 0.4 0.5 0.1 1.1 2.2 0.4 0.1 1.5 1.0 3

 4 Asset: U.S.-chartered depository institutions 4.6 0.9 0.4 0.5 0.1 1.1 2.2 0.4 0.1 1.5 1.0 4

 Equity in govt.-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 0.0 -2.7 -5.9 -1.8 0.5 1.2 -4.7 6.1 1.4 2.0 -4.3 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.0 0.1 -0.0 0.0 0.0 0.1 0.6 -0.2 -0.0 0.1 0.3 6

 7 Nonfinancial noncorporate (FCS) -0.0 0.4 0.3 0.2 0.6 0.8 1.1 0.3 0.7 0.8 0.4 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 0.7 -3.0 -6.1 -2.2 -0.6 -0.6 -6.7 4.5 -0.4 0.2 -6.1 9

 10 Credit unions (FHLB) -0.4 -0.2 0.7 0.1 -0.6 0.6 0.1 0.9 0.7 0.7 0.3 10

 11 Life insurance companies (FHLB) -0.3 -0.0 -0.8 0.1 1.0 0.4 0.2 0.6 0.4 0.2 0.8 11

 Holding company net transactions with subsidiaries:

 12 Liab.: U.S.-chartered depository institutions 166.8 33.4 76.1 101.2 59.2 191.0 165.8 206.4 114.4 277.5 -86.0 12

 13 Property-casualty insurance companies 0.0 0.0 0.0 -6.8 -6.0 0.1 -2.2 1.9 -0.2 0.9 -5.5 13

 14 Life insurance companies 9.3 22.2 9.3 10.3 3.4 0.8 0.9 2.3 -0.3 0.2 1.1 14

 15 Finance companies -23.3 -39.5 -20.3 -3.5 -15.8 -13.1 -45.9 -3.0 -4.0 0.5 -4.5 15

 16 Brokers and dealers -173.1 -24.3 -13.0 52.3 57.1 0.8 88.9 61.0 -158.6 11.9 -69.6 16

 17 Rest of the world 23.5 10.6 30.6 -51.5 -16.9 -5.6 -8.1 19.5 -27.6 -6.4 40.5 17

 18 Asset: Holding companies 3.1 2.4 82.7 101.9 81.0 173.9 199.3 288.2 -76.4 284.5 -124.2 18

 NFC investment in finance company subsidiaries:

 19 Liab.: Finance companies -9.3 26.7 8.4 2.6 14.7 14.1 66.9 -4.8 -6.5 0.7 -7.3 19

 20 Asset: Nonfinancial corporate business -9.3 26.7 8.4 2.6 14.7 14.1 66.9 -4.8 -6.5 0.7 -7.3 20

 Funding corporations’ investment in subsidiaries:

 21 Liab.: Foreign banking offices in U.S. -73.5 -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 21

 22 Brokers and dealers 6.3 -26.9 53.4 19.0 15.5 23.3 9.6 65.3 9.1 9.2 103.4 22

 23 Asset: Funding corporations -67.2 -58.4 19.6 7.2 13.0 3.0 11.0 53.1 37.2 -89.3 75.5 23

 Equity investment under Public-Private Inv. Program:

 24 Liab.: Funding corporations 2.4 7.9 1.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Asset: Households (2) 1.2 4.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Federal government 1.2 4.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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F.232 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world -543.5 -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 1

 2 Asset: Federal government 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Monetary authority (1) -543.5 -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 0.4 -1.5 -1.8 1.2 -3.2 -1.5 -0.5 -5.6 1.1 -1.0 4.4 6

 7 Asset: U.S.-chartered depository institutions 0.4 -1.5 -1.8 1.2 -3.2 -1.5 -0.5 -5.6 1.1 -1.0 4.4 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector -4.9 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 8

 9 Asset: Life insurance companies -4.9 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 8.4 17.1 14.8 -1.8 0.4 5.8 15.0 12.7 1.7 -6.2 13.9 10

 11 Accident and health 9.7 17.0 15.6 -2.4 0.2 5.5 14.5 12.3 -3.3 -1.7 7.8 11

 12 Policy dividend accumulation -1.1 0.4 -1.8 0.4 0.2 0.2 -0.6 2.0 0.9 -1.3 -0.8 12

 13 Contract claims -0.1 -0.4 0.9 0.3 -0.0 0.1 1.1 -1.6 4.1 -3.2 6.9 13

 14 Asset: Household sector 8.4 17.1 14.8 -1.8 0.4 5.8 15.0 12.7 1.7 -6.2 13.9 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies -5.0 6.3 35.2 5.8 5.7 14.7 6.0 32.4 27.1 -6.6 -5.6 15

 16 Asset: Household sector 8.7 -35.2 36.7 -17.7 39.7 -1.0 -3.4 6.8 4.6 -11.9 5.5 16

 17 Nonfinancial corporate business -4.0 11.7 10.1 7.6 -6.6 8.2 4.2 15.5 13.3 -0.1 -4.0 17

 18 Nonfinancial noncorporate business -9.8 29.9 -11.6 15.9 -27.4 7.5 5.2 10.1 9.2 5.4 -7.1 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 114.3 13.9 9.9 -1.9 1.3 23.1 27.6 35.0 3.2 26.4 27.0 19

 20 Asset: Private pension funds 90.9 -0.3 20.7 5.0 7.5 17.8 23.1 22.1 6.9 19.0 19.6 20

 21 State and local government retirement funds 23.4 14.2 -10.7 -6.9 -6.2 5.3 4.5 12.9 -3.7 7.4 7.3 21

 Pension fund contributions payable:

 22 Liab.: Nonfinancial corporate business -8.6 15.4 3.0 -12.3 -0.6 0.9 -0.8 1.9 3.6 -1.2 6.6 22

 23 Asset: Private pension funds -8.6 15.4 3.0 -12.3 -0.6 0.9 -0.8 1.9 3.6 -1.2 6.6 23

 Securities borrowed (net):

 24 Liab.: Funding corporations -30.2 -123.5 -74.6 -79.2 94.0 47.1 484.0 -192.0 -44.8 -58.9 139.1 24

 25 Asset: Brokers and dealers -30.2 -123.5 -74.6 -79.2 94.0 47.1 484.0 -192.0 -44.8 -58.9 139.1 25

 Nonmarketable government securities:

 26 Liab.: Federal government 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 26

 27 Asset: Federal government retirement funds 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 27

 Retiree health care funds (2):

 28 Liab.: Federal government 16.6 22.5 18.5 13.3 12.2 10.4 -2.7 11.0 -0.6 33.9 -16.3 28

 29 Asset: Household sector 16.6 22.5 18.5 13.3 12.2 10.4 -2.7 11.0 -0.6 33.9 -16.3 29

 Claims of pension fund on sponsor (3):

 30 Liab.: Nonfinancial corporate business 82.8 -20.7 -16.8 8.4 12.1 23.1 8.2 -47.1 31.9 99.3 33.1 30

 31 Federal government 15.6 20.2 20.8 50.3 -6.8 25.9 19.8 42.1 14.7 26.8 409.9 31

 32 State and local governments 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 32

 33 Asset: Private pension funds 82.8 -20.7 -16.8 8.4 12.1 23.1 8.2 -47.1 31.9 99.3 33.1 33

 34 Federal government retirement funds 15.6 20.2 20.8 50.3 -6.8 25.9 19.8 42.1 14.7 26.8 409.9 34

 35 State and local govt. retirement funds 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.

(3) Assets of the household sector.
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F.233 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 298.4 331.3 541.1 650.0 541.8 662.0 915.9 859.2 632.2 240.8 817.3 1

 2 Nonfinancial corporate business 68.2 493.9 841.1 732.8 611.0 648.9 908.2 738.2 599.0 350.1 641.9 2

 3 Nonfinancial noncorporate business 32.6 -54.3 -21.0 51.8 -85.4 6.5 -9.9 8.9 0.8 26.4 59.3 3

 4 Federal government 2.9 2.4 13.6 -8.3 1.3 3.0 -12.8 16.0 -12.5 21.3 -18.1 4

 5 Monetary authority 0.4 27.8 -27.5 3.5 9.7 2.4 59.0 -25.5 -58.1 34.2 57.5 5

 6 U.S.-chartered depository institutions 191.5 -42.3 -171.0 45.9 60.9 122.5 165.7 -12.5 332.8 4.0 200.1 6

 7 Foreign banking offices in U.S. -85.1 0.9 43.9 -23.9 -30.6 8.5 4.3 -1.4 35.1 -3.8 39.6 7

 8 Banks in U.S.-affiliated areas 4.3 -5.9 -3.9 -2.0 -3.0 -1.6 2.1 1.7 -10.5 0.2 -3.4 8

 9 Credit unions 14.7 -8.3 1.3 0.3 1.5 1.2 -5.8 13.8 0.4 -3.6 3.5 9

 10 Life insurance companies -42.1 7.4 14.0 20.7 -2.1 12.8 40.1 53.3 -39.6 -2.7 39.1 10

 11 Government-sponsored enterprises 61.9 -37.9 -41.4 -5.4 -6.7 -3.4 -8.6 -1.2 4.4 -7.9 -4.3 11

 12 Finance companies -71.5 -58.8 -7.1 -23.8 -25.4 -16.2 -31.1 15.2 -82.5 33.7 19.4 12

 13 REITs -5.3 4.1 7.1 25.4 -21.7 11.8 26.1 17.7 1.9 1.5 -4.7 13

 14 Brokers and dealers 228.6 60.2 -59.8 -79.0 -31.3 -43.9 75.7 -80.5 74.0 -245.0 142.3 14

 15 Holding companies -26.9 -68.5 -36.2 -98.6 222.0 -31.1 57.7 97.0 -197.9 -81.2 -256.0 15

 16 Funding corporations -75.4 10.4 -11.9 10.5 -158.3 -59.4 -354.8 18.6 -14.9 113.4 -98.5 16

 17 Net change in assets 52.1 73.2 125.7 324.0 718.5 363.5 862.6 670.9 1.4 -81.0 679.1 17

 18 Nonfinancial corporate business -154.7 176.3 5.1 100.2 283.5 135.9 313.6 292.9 83.6 -146.4 180.8 18

 19 Nonfinancial noncorporate business -82.7 74.7 113.5 206.9 68.5 124.6 48.3 133.4 95.6 221.1 169.3 19

 20 Federal government 32.3 -9.8 -1.3 -3.5 3.7 10.2 11.0 13.2 9.1 7.5 10.9 20

 21 State and local governments 25.5 -21.9 -1.2 6.3 4.8 11.4 11.6 15.7 5.3 13.0 25.9 21

 22 Monetary authority 48.5 17.5 42.7 65.3 40.9 -1.8 7.7 4.4 -9.3 -9.9 -29.6 22

 23 U.S.-chartered depository institutions 21.8 -96.0 -60.9 -9.2 -4.2 -7.5 150.0 132.0 -112.0 -200.1 204.7 23

 24 Foreign banking offices in U.S. -4.4 -15.3 15.0 -0.3 13.1 14.4 56.3 3.7 8.8 -11.3 17.8 24

 25 Banks in U.S.-affiliated areas -4.5 4.5 0.8 0.2 8.6 12.8 -12.5 20.3 -4.8 48.4 -8.2 25

 26 Credit unions 0.6 41.3 -12.8 0.7 -1.1 4.7 -6.8 19.7 -6.2 12.4 -15.2 26

 27 Life insurance companies -17.8 -10.2 53.6 30.6 20.4 71.4 62.6 49.2 39.0 134.9 87.4 27

 28 Private pension funds 27.8 14.2 43.4 34.1 20.0 44.5 62.6 62.8 34.1 18.3 32.1 28

 29 State and local govt. retirement funds -10.6 15.7 1.4 -2.9 11.2 8.7 10.9 14.1 6.8 2.9 -7.6 29

 30 Money market mutual funds -8.3 -3.4 -0.8 6.1 2.8 -14.3 -61.8 -71.9 -24.4 101.0 -93.8 30

 31 Mutual funds -5.1 -12.0 2.9 -33.1 19.1 -4.3 130.7 -86.9 82.2 -143.0 0.0 31

 32 Government-sponsored enterprises 1.2 29.3 -0.1 4.1 13.1 -11.0 -54.1 -2.7 -8.6 21.5 40.2 32

 33 Finance companies 17.4 -110.1 -5.9 -33.4 -22.3 9.4 -44.8 8.8 -17.0 90.5 14.8 33

 34 REITs 10.2 1.3 8.5 25.8 12.2 16.9 39.3 44.8 14.9 -31.6 24.3 34

 35 Brokers and dealers 72.6 10.6 -32.0 11.1 53.7 -0.0 149.0 8.7 -87.1 -70.6 61.3 35

 36 Holding companies 82.3 -33.6 -46.2 -85.0 170.8 -62.7 -11.1 8.6 -108.6 -139.5 -36.0 36

 37 Discrepancy 246.3 258.2 415.4 326.1 -176.7 298.5 53.3 188.3 630.8 321.7 138.2 37
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Z.1, June 11, 2015 75

F.11 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 All sectors 418.5 312.6 335.9 438.3 -229.6 173.4 235.4 -135.2 890.5 -297.2 468.4 1

 2 Household sector 35.8 -306.5 -690.1 -291.0 -387.4 -357.8 -304.4 -300.8 80.7 -906.8 -708.3 2

 3 Nonfinancial corporate business -135.6 296.1 797.5 761.9 209.3 325.2 267.7 221.6 571.2 240.2 433.0 3

 4 Federal government -54.3 -49.1 -9.9 -61.2 -42.1 -53.7 64.3 -286.0 155.5 -148.4 -135.9 4

 5 State and local governments 64.7 -8.8 76.0 3.8 20.9 -16.5 26.3 -30.5 -20.3 -41.8 -39.0 5

 6 Domestic financial sectors 158.1 200.5 97.0 -4.4 -81.5 -25.5 91.0 59.7 -358.9 106.0 28.5 6

 7 Monetary authority -6.0 -10.0 -1.2 -18.8 -1.9 -3.4 -4.1 -2.8 -2.6 -4.0 -3.3 7

 8 U.S.-chartered depository institutions 169.4 157.4 90.0 42.8 -29.1 53.0 194.0 46.3 -187.8 159.4 -90.8 8

 9 Foreign banking officed in U.S. 175.1 -17.6 1.4 12.2 -53.0 -54.8 -130.4 3.6 -68.8 -23.6 23.1 9

 10 Banks in U.S.-affiliated areas 6.2 -0.0 1.0 -0.1 -0.3 -0.2 2.8 1.2 -3.0 -1.8 3.3 10

 11 Credit unions 12.6 -6.4 -27.2 4.8 13.8 -7.5 -19.0 -13.8 -0.8 3.5 -18.0 11

 12 Property-casualty insurance companies -22.2 76.6 4.6 -15.0 6.8 -6.6 7.4 14.6 -14.8 -33.6 -15.5 12

 13 Life insurance companies -84.7 -31.8 -30.3 -38.0 -22.5 -36.6 -40.8 -27.8 -21.7 -56.3 -29.3 13

 14 Mutual funds -40.7 -24.9 -35.7 -39.8 -41.3 -14.1 -16.5 -18.1 -11.0 -10.8 -10.1 14

 15 Government-sponsored enterprises 9.1 43.0 3.0 34.3 0.7 22.7 103.2 22.7 -95.7 60.5 57.4 15

 16 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Finance companies 11.5 9.9 43.2 30.6 20.9 -12.9 -18.9 -4.8 -15.6 -12.3 30.8 17

 18 REITs -11.7 8.1 18.2 28.4 57.4 40.4 20.2 18.9 52.9 69.7 69.4 18

 19 Brokers and dealers -56.3 -6.0 30.5 -43.0 -30.2 -1.5 -3.9 23.4 14.3 -39.7 15.5 19

 20 Holding companies -4.0 2.3 -0.2 -2.6 -2.7 -3.8 -2.6 -3.7 -4.1 -4.7 -3.8 20

 21 Rest of the world 349.8 180.3 65.5 29.1 51.2 301.7 90.4 200.8 462.2 453.5 890.1 21

F.12 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 All types 418.5 312.6 335.9 438.3 -229.6 173.4 235.4 -135.2 890.5 -297.2 468.4 1

 2 Treasury currency -4.4 -1.1 -0.7 -0.6 -1.1 -1.1 -1.0 -0.9 -1.8 -0.5 -1.5 2

 3 Foreign deposits -55.1 49.2 -136.3 -137.3 -3.2 -84.1 -14.8 -137.9 190.9 -374.4 -129.1 3

 4 Net interbank transactions 14.5 25.8 3.5 5.7 56.8 -47.1 189.5 -55.5 -139.3 -183.0 298.6 4

 5 Security repurchase agreements 208.6 54.6 70.2 -6.3 -161.8 -141.1 -40.0 -323.8 15.1 -215.5 -29.8 5

 6 Mail floats -0.3 -1.1 0.8 1.5 -0.7 0.9 -39.3 97.7 -1.3 -53.6 -40.6 6

 7 Federal government 0.7 0.0 -0.1 0.6 0.4 1.1 -43.2 97.6 4.4 -54.3 -42.0 7

 8 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Private domestic -1.0 -1.1 0.9 0.9 -1.2 -0.3 4.0 0.1 -5.8 0.7 1.4 9

 10 Trade credit 122.7 -10.2 -42.8 64.2 -130.3 7.5 -61.0 22.9 50.7 17.5 -19.8 10

 11 Taxes payable -33.5 -8.6 -8.1 -19.7 -19.2 -36.7 -23.1 -73.9 -14.6 -35.1 -70.2 11

 12 Miscellaneous 246.3 258.2 415.4 326.1 -176.7 298.5 53.3 188.3 630.8 321.7 138.2 12

 13 Nonfinancial -80.3 -54.1 33.9 204.6 206.5 176.4 171.9 147.8 160.1 225.9 322.5 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) 75.3 49.2 -38.3 -209.2 -211.9 -182.0 -177.5 -153.5 -165.7 -231.6 -328.3 14

 15 Contr. for govt. soc. insur., U.S. affiliated areas 5.0 4.9 4.4 4.6 5.4 5.6 5.6 5.6 5.6 5.7 5.8 15