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

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

March 12, 2015 

Z.1 

Financial Accounts 

of the United States 

Flow of Funds, Balance Sheets, 

and Integrated Macroeconomic Accounts

Historical Annual Tables 

1985–1994

 

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

Summaries 

Total Credit Market Borrowing and Lending F.1 1 

Credit Market Borrowing by Nonfinancial Sectors F.2 2 

Credit Market Borrowing by Financial Sectors F.3 2 

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

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

Credit Market Debt Outstanding L.1 4 

Credit Market Debt Owed by Nonfinancial Sectors L.2 5 

Credit Market Debt Owed by Financial Sectors L.3 5 

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

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

Distribution of Gross Domestic Product F.6 7 

Distribution of National Income F.7 8 

Saving and Investment F.8 9 

Net Capital Transfers F.9 10 

Derivation of Measures of Personal Saving F.10 11 

Assets and Liabilities of the Personal Sector L.10 12 

Title 

Flows Levels 

Table Page Table Page 

Sectors

Domestic Nonfinancial F.100 13 L.100 71 

Households and Nonprofit Organizations F.101 14 L.101 72 

Nonfinancial Business F.102 15 L.102 73 

Nonfinancial Corporate Business F.103 16 L.103 74 

Nonfinancial Noncorporate Business F.104 17 L.104 75 

General Government F.105 18 L.105 76 

Federal Government F.106 19 L.106 77 

State and Local Governments F.107 20 L.107 78 

Domestic Financial F.108 21 L.108 79 

Monetary Authority F.109 22 L.109 80 

Private Depository Institutions F.110 23 L.110 81 

List of Data Tables 
ii

Sectors

U.S.-Chartered Depository Institutions F.111 24 L.111 82 

Foreign Banking Offices in U.S. F.112 25 L.112 83 

Banks in U.S.-Affiliated Areas F.113 26 L.113 84 

Credit Unions F.114 26 L.114 84 

Property-Casualty Insurance Companies F.115 27 L.115 85 

Life Insurance Companies F.116 28 L.116 86 

Life Insurance Companies: General Accounts F.116.g 29 L.116.g 87 

Life Insurance Companies: Separate Accounts F.116.s 29 L.116.s 87 

Private and Public Pension Funds F.117 30 L.117 88 

Private Pension Funds F.118 31 L.118 89 

Private Pension Funds: Defined Benefit Plans F.118.b 32 L.118.b 90 

Private Pension Funds: Defined Contribution 

Plans F.118.c 32 L.118.c 90 

Federal Government Employee Retirement Funds F.119 33 L.119 91 

Federal Government Employee Retirement 

Funds: Defined Benefit Plans F.119.b 34 L.119.b 92 

Federal Government Employee Retirement 

Funds: Defined Contribution Plans F.119.c 34 L.119.c 92 

State and Local Government Employee Retirement 

Funds F.120 35 L.120 93 

State and Local Government Employee 

Retirement Funds: Defined Benefit Plans F.120.b 36 L.120.b 94 

State and Local Government Employee 

Retirement Funds: Defined Contribution Plans F.120.c 36 L.120.c 94 

Money Market Mutual Funds F.121 37 L.121 95 

Mutual Funds F.122 37 L.122 95 

Closed-End and Exchange-Traded Funds F.123 37 L.123 95 

Government-Sponsored Enterprises F.124 38 L.124 96 

Agency- and GSE-Backed Mortgage Pools F.125 38 L.125 96 

Issuers of Asset-Backed Securities F.126 39 L.126 97 

Finance Companies F.127 39 L.127 97 

Real Estate Investment Trusts (REITs) F.128 40 L.128 98 

Equity Real Estate Investment Trusts F.128.e 41 L.128.e 99 

Mortgage Real Estate Investment Trusts F.128.m 41 L.128.m 99 

Security Brokers and Dealers F.129 42 L.129 100 

Holding Companies F.130 43 L.130 101 

Funding Corporations F.131 44 L.131 102 
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Sectors

Rest of the World F.132 45 L.132 103 

Instruments 

U.S. Official Reserve Assets and SDR Allocations F.200 46 L.200 104 

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 46 L.201 104 

U.S. Deposits in Foreign Countries F.202 46 L.202 104 

Net Interbank Transactions F.203 47 L.203 105 

Checkable Deposits and Currency F.204 48 L.204 106 

Time and Savings Deposits F.205 49 L.205 107 

Money Market Mutual Fund Shares F.206 49 L.206 107 

Federal Funds and Security Repurchase Agreements F.207 50 L.207 108 

Open Market Paper F.208 51 L.208 109 

Treasury Securities F.209 52 L.209 110 

Agency- and GSE-Backed Securities F.210 53 L.210 111 

Municipal Securities and Loans F.211 54 L.211 112 

Corporate and Foreign Bonds F.212 55 L.212 113 

Corporate Equities F.213 56 L.213 114 

Mutual Fund Shares F.214 56 L.214 114 

Depository Institution Loans Not Elsewhere Classified F.215 57 L.215 115 

Other Loans and Advances F.216 58 L.216 116 

Total Mortgages F.217 59 L.217 117 

Home Mortgages F.218 60 L.218 118 

Multifamily Residential Mortgages F.219 60 L.219 118 

Commercial Mortgages F.220 61 L.220 119 

Farm Mortgages F.221 61 L.221 119 

Consumer Credit F.222 62 L.222 120 

Trade Credit F.223 63 L.223 121 

Security Credit F.224 63 L.224 121 

Life Insurance Reserves F.225 63 L.225 121 

Pension Entitlements F.226 64 L.226 122 

Taxes Payable by Businesses F.227 64 L.227 122 

Proprietors' Equity in Noncorporate Business F.228 64 L.228 122 

Direct Investment F.229 65 L.229 123 

Total Miscellaneous Financial Claims F.230 66 L.230 124 

Identified Miscellaneous Financial Claims -- Part I F.231 67 L.231 125 
iv

Instruments 

Identified Miscellaneous Financial Claims -- Part II F.232 68 L.232 126 

Unidentified Miscellaneous Financial Claims F.233 69 L.233 127 

Sector Discrepancies F.11 70 

Instrument Discrepancies F.12 70 

Title 

Balance Sheet Reconciliation 

Table Page Table Page 

Balance Sheet and Changes in Net Worth 

Households and Nonprofit Organizations B.101 128 R.101 131 

Nonfinancial Corporate Business B.103 129 R.103 132 

Nonfarm Noncorporate Business B.104 130 R.104 133 

Title 

Flows Levels 

Table Page Table Page 

Supplementary Tables 

Balance Sheet of Households and Nonprofit 

Organizations with Equity Detail B.101.e 134 

Title Table Page 

Integrated Macroeconomic Accounts for the United States 

Total Economy -- Current Account S.1.a 135 

Selected Aggregates for Total Economy and Sectors S.2.a 136 

Households and Nonprofit Institutions Serving Households S.3.a 138 

Nonfinancial Noncorporate Business S.4.a 141 

Nonfinancial Corporate Business S.5.a 144 

Financial Business S.6.a 147 

Federal Government S.7.a 150 

State and Local Governments S.8.a 153 

Rest of the World S.9.a 156 
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Historical Annuals, 1985-1994, March 12, 2015 1

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Credit market borrowing 1159.8 1185.0 1024.8 1031.7 901.2 877.6 639.0 767.3 1027.7 1080.2 1

 2 Domestic nonfinancial sectors 955.4 844.7 721.6 786.3 684.3 658.8 472.6 514.4 667.3 639.0 2

 3 Household sector 311.4 259.5 263.6 272.2 276.3 233.5 183.6 204.3 239.6 324.4 3

 4 Nonfinancial corporate business 184.3 227.8 165.6 224.4 165.9 131.0 -54.3 16.0 134.3 189.8 4

 5 Nonfinancial noncorporate business 70.4 67.1 58.0 84.1 48.4 0.3 -26.2 -26.5 -20.7 14.4 5

 6 Federal government 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 6

 7 State and local governments 163.6 74.2 90.4 50.4 47.4 47.1 91.2 16.5 57.9 -45.5 7

 8 Domestic financial sectors 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 8

 9 U.S.-chartered depository institutions 13.4 19.1 29.8 17.8 -16.3 -29.7 -45.1 4.5 21.5 24.4 9

 10 Foreign banking offices in U.S. 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 10

 11 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 11

 12 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 12

 13 Government-sponsored enterprises 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 13

 14 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 14

 15 ABS issuers 15.8 37.5 43.6 36.1 26.9 59.4 53.8 56.3 82.5 70.3 15

 16 Finance companies 41.9 60.5 12.0 24.0 37.5 23.1 13.6 4.9 -1.3 37.2 16

 17 REITs 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 17

 18 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 18

 19 Holding companies 17.7 11.4 15.0 4.9 5.3 -30.6 -6.1 -0.1 9.6 13.5 19

 20 Funding corporations 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 20

 21 Rest of the world 1.2 10.2 11.4 -4.4 -7.9 11.1 13.4 16.4 67.5 -23.2 21

 22 Credit market lending 1159.8 1185.0 1024.8 1031.7 901.2 877.6 639.0 767.3 1027.7 1080.2 22

 23 Domestic nonfinancial sectors 325.4 119.9 233.0 238.4 163.1 272.7 164.4 60.3 96.5 288.4 23

 24 Household sector 149.2 42.4 191.5 183.5 99.5 229.4 81.3 42.8 81.6 324.6 24

 25 Nonfinancial corporate business 16.9 -5.6 -0.8 19.0 32.2 -26.1 30.7 27.8 9.1 17.7 25

 26 Nonfinancial noncorporate business 4.9 2.7 -7.7 10.5 -11.1 -3.5 -5.3 -0.1 -1.2 6.8 26

 27 Federal government 17.8 10.1 -7.9 -9.5 -3.0 33.6 10.5 -11.9 -25.6 -5.6 27

 28 State and local governments 136.6 70.2 57.8 34.9 45.5 39.3 47.2 1.7 32.6 -55.0 28

 29 Domestic financial sectors 767.0 959.4 730.9 684.9 656.8 517.6 459.0 609.9 801.9 659.4 29

 30 Monetary authority 18.4 19.4 21.0 14.8 -7.9 8.1 31.1 27.9 36.2 31.5 30

 31 U.S.-chartered depository institutions 237.6 249.8 215.9 223.8 41.6 -75.4 -124.1 -10.4 126.5 150.9 31

 32 Foreign banking offices in U.S. 16.4 41.4 40.6 22.5 14.3 21.8 47.8 9.7 -11.7 1.0 32

 33 Banks in U.S.-affiliated areas 2.7 0.9 0.1 0.8 1.6 4.5 -1.9 3.7 2.4 3.3 33

 34 Credit unions 13.4 15.5 17.5 17.5 7.1 10.6 12.8 17.7 21.7 28.1 34

 35 Property-casualty insurance companies 28.6 39.5 40.1 30.9 28.7 28.5 27.4 10.4 27.1 23.4 35

 36 Life insurance companies 76.5 87.9 88.6 103.1 100.1 107.2 80.8 79.5 100.4 72.0 36

 37 Private pension funds 23.1 4.3 13.6 21.8 51.1 42.8 25.7 26.1 35.9 39.4 37

 38 Federal government retirement funds 0.0 0.0 1.1 1.6 2.1 2.7 2.7 3.0 3.2 3.5 38

 39 State and local govt. retirement funds 19.2 45.1 31.7 22.0 31.4 21.3 2.3 37.0 27.2 10.4 39

 40 Money market mutual funds 14.0 34.9 1.9 10.5 68.3 77.5 32.7 4.7 20.4 30.0 40

 41 Mutual funds 76.1 129.9 31.3 13.3 22.7 36.2 80.1 126.2 159.5 -7.1 41

 42 Closed-end funds 1.4 2.9 4.0 17.9 6.6 1.3 12.8 20.2 20.0 -3.7 42

 43 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Government-sponsored enterprises 25.1 16.6 23.4 33.3 -4.3 14.0 15.0 69.3 88.5 121.2 44

 45 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 45

 46 ABS issuers 15.0 36.7 41.8 34.4 25.0 50.4 49.2 52.1 79.9 63.2 46

 47 Finance companies 50.7 56.7 38.4 45.0 55.4 27.5 7.7 2.4 -7.3 32.0 47

 48 REITs 2.6 5.0 7.5 4.3 0.6 -1.8 -0.6 1.4 0.4 -0.7 48

 49 Brokers and dealers 4.1 8.1 -35.0 -16.3 80.2 2.8 17.5 -1.3 14.8 -44.2 49

 50 Holding companies 3.7 -0.3 2.0 -0.1 2.8 -2.8 -1.5 5.6 -0.0 0.9 50

 51 Funding corporations 59.7 0.8 7.8 8.0 5.2 -10.0 5.1 9.2 -27.9 -11.0 51

 52 Rest of the world 67.4 105.7 60.9 108.4 81.3 87.3 15.5 97.2 129.3 132.3 52

(1) Excludes corporate equities and mutual fund shares.
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2 Historical Annuals, 1985-1994, March 12, 2015

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Domestic 955.4 844.7 721.6 786.3 684.3 658.8 472.6 514.4 667.3 639.0 1

 2 By instrument 955.4 844.7 721.6 786.3 684.3 658.8 472.6 514.4 667.3 639.0 2

 3 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 3

 4 Treasury securities 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 4

 5 Agency- and GSE-backed securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 5

 6 Municipal securities 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 6

 7 Corporate bonds 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 7

 8 Depository institution loans n.e.c. 48.5 64.8 13.5 46.1 24.8 -5.6 -49.2 -21.8 5.9 71.5 8

 9 Other loans and advances 31.3 43.2 39.1 45.9 56.3 71.0 -48.5 13.1 -29.4 46.1 9

 10 Mortgages 260.0 287.3 320.9 322.2 264.8 225.8 147.0 110.4 113.6 154.4 10

 11 Home 180.1 203.8 240.4 223.7 226.4 208.1 164.3 167.4 156.5 177.2 11

 12 Multifamily residential 28.5 33.4 16.7 18.1 10.4 -1.4 -3.5 -13.4 -5.9 -2.7 12

 13 Commercial 69.7 60.1 72.1 85.4 30.1 20.2 -13.7 -44.1 -37.7 -21.6 13

 14 Farm -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 14

 15 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 15

 16 By sector 955.4 844.7 721.6 786.3 684.3 658.8 472.6 514.4 667.3 639.0 16

 17 Household sector 311.4 259.5 263.6 272.2 276.3 233.5 183.6 204.3 239.6 324.4 17

 18 Nonfinancial business 254.7 295.0 223.7 308.5 214.3 131.3 -80.5 -10.5 113.7 204.3 18

 19 Corporate 184.3 227.8 165.6 224.4 165.9 131.0 -54.3 16.0 134.3 189.8 19

 20 Noncorporate 70.4 67.1 58.0 84.1 48.4 0.3 -26.2 -26.5 -20.7 14.4 20

 21 Federal government 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 21

 22 State and local governments 163.6 74.2 90.4 50.4 47.4 47.1 91.2 16.5 57.9 -45.5 22

 23 Foreign borrowing in U.S. 1.2 10.2 11.4 -4.4 -7.9 11.1 13.4 16.4 67.5 -23.2 23

 24 Commercial paper 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 24

 25 Bonds 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 25

 26 Depository institution loans n.e.c. -2.8 -0.5 1.6 -13.6 -18.2 -15.7 1.4 -5.4 -1.6 -10.6 26

 27 Other loans and advances -6.0 -3.9 -1.4 -6.4 -7.6 -7.0 -9.8 -0.6 -4.2 -1.4 27

 28 Domestic and foreign 956.6 854.9 733.1 781.9 676.4 669.8 485.9 530.8 734.8 615.7 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars

 1 By instrument 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 1

 2 Open market paper 32.0 24.2 26.9 54.8 31.3 8.6 -32.3 -1.1 -5.5 40.5 2

 3 GSE issues 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 3

 4 Agency- and GSE-backed mortgage pool sec. 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 4

 5 Corporate bonds 56.5 92.3 78.6 52.2 40.8 54.5 72.0 83.0 120.2 115.5 5

 6 Depository institution loans n.e.c. -1.1 13.7 -7.1 2.3 13.2 0.6 4.4 -1.6 -13.0 -11.3 6

 7 Other loans and advances 16.2 20.2 25.0 19.4 -10.5 -24.0 -37.3 -0.6 22.4 17.8 7

 8 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 8

 9 By sector 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 9

 10 U.S.-chartered depository institutions 13.4 19.1 29.8 17.8 -16.3 -29.7 -45.1 4.5 21.5 24.4 10

 11 Foreign banking offices in U.S. 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 11

 12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 12

 13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 13

 14 Government-sponsored enterprises 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 14

 15 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 15

 16 ABS issuers 15.8 37.5 43.6 36.1 26.9 59.4 53.8 56.3 82.5 70.3 16

 17 Finance companies 41.9 60.5 12.0 24.0 37.5 23.1 13.6 4.9 -1.3 37.2 17

 18 REITs 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 18

 19 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 19

 20 Holding companies 17.7 11.4 15.0 4.9 5.3 -30.6 -6.1 -0.1 9.6 13.5 20

 21 Funding corporations 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 21
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Historical Annuals, 1985-1994, March 12, 2015 3

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total 1159.8 1185.0 1024.8 1031.7 901.2 877.6 639.0 767.3 1027.7 1080.2 1

 2 Open market paper 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 2

 3 Treasury securities 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 3

 4 Agency- and GSE-backed securities 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 4

 5 Municipal securities 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 5

 6 Corporate and foreign bonds 143.4 222.5 164.7 162.2 119.5 123.0 165.7 167.4 386.5 221.0 6

 7 Depository institution loans n.e.c. 44.6 77.9 7.9 34.9 19.8 -20.7 -43.4 -28.8 -8.7 49.6 7

 8 Other loans and advances 41.6 59.5 62.7 58.9 38.3 40.0 -95.6 11.9 -11.2 62.5 8

 9 Mortgages 260.0 287.5 321.2 322.5 265.1 226.4 147.4 110.9 117.1 164.2 9

 10 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues 16.1 84.2 -2.6 -107.1 -75.9 4.8 205.1 290.1 427.8 113.7 11

 12 Corporate equities -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 12

 13 Nonfinancial -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 13

 Foreign shares purchased by

 14 U.S. residents 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 14

 15 Financial 10.5 14.7 14.9 22.9 3.6 6.7 22.3 40.2 51.1 9.9 15

 16 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 16

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

Billions of dollars

 Net flows through credit markets

 1 (from table F.4, line 1) 1159.8 1185.0 1024.8 1031.7 901.2 877.6 639.0 767.3 1027.7 1080.2 1

 2 U.S. official reserve assets 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 2

 3 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 3

 4 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 4

 5 Foreign deposits 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 5

 6 Net interbank transactions 19.0 3.2 32.4 5.5 -42.1 8.8 5.7 15.3 20.4 91.7 6

 7 Checkable deposits and currency 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 7

 8 Small time and savings deposits 140.3 130.0 77.1 122.5 99.0 64.0 1.6 -57.2 -70.3 -37.4 8

 9 Large time deposits 17.1 21.4 74.2 61.7 29.7 -61.3 -69.2 -70.9 -15.3 42.1 9

 10 Money market fund shares 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 10

 11 Security repurchase agreements 69.2 102.9 3.2 56.5 93.4 -30.4 20.3 137.8 128.1 39.6 11

 12 Corporate equities -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 12

 13 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 13

 14 Trade payables 65.6 22.0 71.5 85.7 61.9 44.4 42.2 58.9 67.5 107.5 14

 15 Security credit 48.5 10.8 -40.3 5.7 11.2 0.7 53.1 -8.3 56.5 -2.8 15

 16 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 16

 17 Pension entitlements 231.0 230.1 225.1 284.5 267.3 300.3 301.8 333.8 359.3 338.9 17

 18 Taxes payable 1.3 6.9 3.6 0.8 -2.1 2.1 -7.9 7.3 5.8 0.2 18

 19 Noncorporate proprietors’ equity -19.5 -8.5 -28.3 -33.4 -36.2 20.4 27.3 29.7 45.7 44.0 19

 20 Miscellaneous 499.3 181.7 259.2 486.7 431.7 157.3 287.5 310.6 202.8 268.8 20

 21 Total financial sources 2399.3 2244.1 1843.6 2183.3 2030.8 1640.3 1692.8 2015.4 2549.3 2325.1 21

 - Liabilities not identified as assets:

 22 Treasury currency -0.2 -0.0 -0.1 -0.1 -0.3 0.2 -0.6 -0.2 -0.2 -0.2 22

 23 Foreign deposits 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 23

 24 Net interbank liabilities -1.6 -15.3 2.1 -1.6 -6.9 -0.2 13.4 -6.4 6.2 7.4 24

 25 Security repurchase agreements -31.9 10.2 -21.1 -6.1 1.9 -42.2 -33.5 -6.7 21.8 30.2 25

 26 Taxes payable 3.4 5.9 9.3 3.9 -1.3 7.9 -2.7 7.7 11.6 5.2 26

 27 Miscellaneous 203.6 -118.8 -101.5 3.6 122.7 -161.5 5.0 13.4 -181.1 -176.8 27

 - Floats not included in assets:

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

 29 Federal govt. 1.3 -0.6 -0.0 1.6 8.4 3.3 -13.1 0.7 -1.5 -4.8 29

 30 Private domestic 0.7 -8.9 0.4 0.8 -2.2 8.5 4.5 1.6 -1.3 -2.8 30

 31 Trade credit 5.1 6.0 -11.0 -32.4 -1.0 -5.2 47.2 21.9 5.4 7.0 31

 Totals identified to sectors

 32 as assets 2213.1 2345.1 1953.3 2213.1 1871.0 1803.8 1696.6 1986.2 2694.2 2417.1 32
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L.1 Credit Market Debt Outstanding (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total credit market debt owed by: 8706.2 9896.6 10914.3 11982.8 12933.5 13837.7 14469.9 15259.2 16334.4 17432.1 1

 2 Domestic nonfinancial sectors 7111.8 7953.5 8656.8 9439.6 10141.0 10827.2 11296.4 11813.9 12496.1 13141.4 2

 3 Household sector 2272.0 2529.5 2747.1 3036.3 3305.1 3567.8 3755.0 3959.4 4201.3 4525.0 3

 4 Nonfinancial corporate business 1638.9 1865.8 2059.2 2263.5 2454.1 2583.3 2524.4 2543.6 2690.4 2887.2 4

 5 Nonfinancial noncorporate business 933.0 1000.2 1058.2 1141.9 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 5

 6 Federal government 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 6

 7 State and local governments 677.9 752.1 842.6 893.0 940.4 987.4 1078.6 1095.1 1153.0 1107.5 7

 8 Domestic financial sectors 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 8

 9 U.S.-chartered depository institutions 158.3 177.3 207.1 224.9 208.6 178.9 133.8 138.3 159.7 184.1 9

 10 Foreign banking offices in U.S. 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 10

 11 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 11

 12 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 12

 13 Government-sponsored enterprises 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 13

 14 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 14

 15 ABS issuers 37.2 74.7 118.3 154.4 209.8 269.2 323.0 385.5 468.0 538.3 15

 16 Finance companies 241.0 301.5 313.6 337.5 375.0 398.1 411.7 416.6 415.3 452.5 16

 17 REITs 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 17

 18 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 18

 19 Holding companies 118.7 130.0 145.0 149.9 155.2 124.6 118.5 118.4 128.0 141.5 19

 20 Funding corporations 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 20

 21 Rest of the world 335.5 346.6 357.7 393.7 389.7 396.7 406.7 426.4 521.1 501.0 21

 22 Total credit market assets held by: 8706.2 9896.6 10914.3 11982.8 12933.5 13837.7 14469.9 15259.2 16334.4 17432.1 22

 23 Domestic nonfinancial sectors 1890.7 2002.6 2210.7 2492.3 2644.3 2938.4 3082.0 3166.3 3310.0 3673.5 23

 24 Household sector 953.5 988.2 1162.2 1404.9 1498.4 1749.0 1812.1 1879.1 1989.1 2388.6 24

 25 Nonfinancial corporate business 180.7 175.1 174.3 193.3 225.5 199.4 230.0 257.8 271.5 289.2 25

 26 Nonfinancial noncorporate business 49.7 55.4 47.7 58.2 47.1 43.6 38.3 38.1 36.9 43.7 26

 27 Federal government 251.2 258.0 242.8 217.4 209.4 243.1 251.0 239.0 227.5 222.1 27

 28 State and local governments 455.6 525.8 583.6 618.6 664.1 703.4 750.6 752.3 784.9 729.9 28

 29 Domestic financial sectors 6395.6 7357.7 8117.0 8801.8 9473.4 10017.5 10478.4 11109.8 11929.4 12595.8 29

 30 Monetary authority 186.0 205.5 226.5 241.2 233.3 241.4 272.5 300.4 336.7 368.2 30

 31 U.S.-chartered depository institutions 2967.5 3217.3 3435.5 3657.7 3695.5 3644.8 3516.3 3509.0 3635.5 3786.5 31

 32 Foreign banking offices in U.S. 191.4 232.8 273.5 296.0 310.3 332.1 379.9 389.6 377.8 379.0 32

 33 Banks in U.S.-affiliated areas 13.7 14.6 14.7 15.5 17.1 21.6 19.7 23.4 25.8 29.2 33

 34 Credit unions 98.4 113.9 131.3 148.9 156.0 166.6 179.4 197.1 218.7 246.8 34

 35 Property-casualty insurance companies 191.8 234.6 274.6 306.0 335.6 364.2 394.1 410.6 443.3 465.6 35

 36 Life insurance companies 646.6 734.5 823.1 927.2 1028.3 1134.5 1218.9 1304.4 1415.5 1487.5 36

 37 Private pension funds 328.9 333.2 346.8 368.6 419.7 462.4 488.1 514.2 550.0 589.4 37

 38 Federal government retirement funds 0.0 0.0 1.1 2.7 4.9 7.6 10.2 13.3 16.5 20.0 38

 39 State and local govt. retirement funds 252.4 297.5 329.2 351.2 382.6 403.9 406.2 443.3 470.5 480.9 39

 40 Money market mutual funds 178.2 213.1 215.0 225.5 293.7 371.3 403.9 408.6 429.0 459.0 40

 41 Mutual funds 129.9 259.9 291.1 304.5 327.2 360.1 440.2 566.4 725.9 718.8 41

 42 Closed-end funds 4.1 7.0 11.0 28.8 35.4 36.7 49.5 69.7 89.7 86.0 42

 43 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Government-sponsored enterprises 291.0 307.6 330.9 364.2 359.9 373.9 388.9 458.1 546.7 667.9 44

 45 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 45

 46 ABS issuers 34.8 71.4 113.2 147.6 201.1 250.3 299.5 357.9 437.8 501.0 46

 47 Finance companies 353.2 409.9 448.3 493.3 537.3 564.8 572.5 575.0 563.1 595.1 47

 48 REITs 8.7 13.7 21.2 25.4 26.0 24.2 23.6 25.0 25.4 24.6 48

 49 Brokers and dealers 58.2 66.3 39.8 23.5 103.7 106.5 124.0 122.7 137.5 93.3 49

 50 Holding companies 11.8 11.5 13.5 13.4 16.2 13.4 11.9 17.5 17.5 18.4 50

 51 Funding corporations 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 109.9 106.6 51

 52 Rest of the world 419.9 536.4 586.5 688.6 815.8 881.7 909.6 983.1 1095.0 1162.8 52

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Domestic 7111.8 7953.5 8656.8 9439.6 10141.0 10827.2 11296.4 11813.9 12496.1 13141.4 1

 2 By instrument 7111.8 7953.5 8656.8 9439.6 10141.0 10827.2 11296.4 11813.9 12496.1 13141.4 2

 3 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 3

 4 Treasury securities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 4

 5 Agency- and GSE-backed securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 5

 6 Municipal securities 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 6

 7 Corporate bonds 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 7

 8 Depository institution loans n.e.c. 604.3 669.1 682.6 733.6 776.0 770.3 716.8 698.2 704.1 775.6 8

 9 Other loans and advances 431.1 470.8 502.4 532.3 583.7 653.4 602.3 615.4 586.0 638.5 9

 10 Mortgages 2366.0 2652.8 2953.6 3270.7 3522.9 3777.3 3927.9 4038.2 4165.9 4320.3 10

 11 Home 1526.9 1730.1 1928.5 2162.8 2369.6 2606.8 2774.7 2942.1 3101.0 3278.2 11

 12 Multifamily residential 205.1 238.5 257.3 273.4 285.8 286.0 282.5 269.2 264.7 262.0 12

 13 Commercial 540.0 600.1 692.0 763.7 798.8 816.9 803.2 759.1 731.8 710.2 13

 14 Farm 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 14

 15 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 15

 16 By sector 7111.8 7953.5 8656.8 9439.6 10141.0 10827.2 11296.4 11813.9 12496.1 13141.4 16

 17 Household sector 2272.0 2529.5 2747.1 3036.3 3305.1 3567.8 3755.0 3959.4 4201.3 4525.0 17

 18 Nonfinancial business 2572.0 2866.0 3117.4 3405.5 3644.3 3773.8 3686.4 3679.1 3805.2 4016.5 18

 19 Corporate 1638.9 1865.8 2059.2 2263.5 2454.1 2583.3 2524.4 2543.6 2690.4 2887.2 19

 20 Noncorporate 933.0 1000.2 1058.2 1141.9 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 20

 21 Federal government 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 21

 22 State and local governments 677.9 752.1 842.6 893.0 940.4 987.4 1078.6 1095.1 1153.0 1107.5 22

 Foreign credit market debt

 23 held in U.S. 335.5 346.6 357.7 393.7 389.7 396.7 406.7 426.4 521.1 501.0 23

 24 Commercial paper 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 24

 25 Bonds 60.4 72.4 79.3 126.6 135.4 152.6 164.3 193.5 303.7 321.4 25

 26 Depository institution loans n.e.c. 135.6 135.0 136.6 123.0 104.8 89.1 90.5 85.1 83.5 73.0 26

 27 Other loans and advances 105.6 101.8 100.6 94.1 86.5 79.7 69.9 69.3 65.2 63.9 27

 28 Domestic and foreign 7447.3 8300.1 9014.6 9833.3 10530.7 11223.9 11703.1 12240.3 13017.2 13642.4 28

L.3 Credit Market Debt Owed by Financial Sectors

Billions of dollars

 1 By instrument 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 1

 2 Open market paper 252.4 284.6 322.9 377.7 409.1 417.7 385.3 393.5 393.4 441.6 2

 3 GSE issues 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 3

 4 Agency- and GSE-backed mortgage pool sec. 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 4

 5 Corporate bonds 233.1 325.4 404.0 456.1 525.5 580.0 651.9 741.2 861.4 976.9 5

 6 Depository institution loans n.e.c. 46.2 59.9 52.8 55.1 68.4 69.0 73.4 71.8 58.8 47.5 6

 7 Other loans and advances 99.0 119.3 144.3 163.7 153.3 129.2 91.9 91.3 113.7 131.6 7

 8 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 8

 9 By sector 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 9

 10 U.S.-chartered depository institutions 158.3 177.3 207.1 224.9 208.6 178.9 133.8 138.3 159.7 184.1 10

 11 Foreign banking offices in U.S. 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 11

 12 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 12

 13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 13

 14 Government-sponsored enterprises 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 14

 15 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 15

 16 ABS issuers 37.2 74.7 118.3 154.4 209.8 269.2 323.0 385.5 468.0 538.3 16

 17 Finance companies 241.0 301.5 313.6 337.5 375.0 398.1 411.7 416.6 415.3 452.5 17

 18 REITs 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 18

 19 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 19

 20 Holding companies 118.7 130.0 145.0 149.9 155.2 124.6 118.5 118.4 128.0 141.5 20

 21 Funding corporations 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 21
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L.4 Credit Market Debt, All Sectors, by Instrument

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total 8706.2 9896.6 10914.3 11982.8 12933.5 13837.7 14469.9 15259.2 16334.4 17432.1 1

 2 Open market paper 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 2

 3 Treasury securities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 3

 4 Agency- and GSE-backed securities 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 4

 5 Municipal securities 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 5

 6 Corporate and foreign bonds 871.8 1103.1 1267.4 1470.0 1621.9 1740.7 1903.1 2089.3 2503.0 2726.8 6

 7 Depository institution loans n.e.c. 786.1 864.1 872.0 911.8 949.1 928.5 880.7 855.1 846.4 896.1 7

 8 Other loans and advances 635.8 691.9 747.3 790.2 823.5 862.3 764.1 776.0 764.9 833.9 8

 9 Mortgages 2368.5 2655.6 2956.7 3274.1 3526.6 3781.6 3932.7 4043.6 4174.9 4339.1 9

 10 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 11

 12 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 12

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

Billions of dollars

 Total credit market debt

 1 (from table L.4) 8706.2 9896.6 10914.3 11982.8 12933.5 13837.7 14469.9 15259.2 16334.4 17432.1 1

 2 U.S. official reserve assets 37.5 43.4 41.7 43.3 70.0 79.2 73.7 67.0 69.1 70.4 2

 3 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 3

 4 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 4

 5 Foreign deposits 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 5

 6 Net interbank liabilities -7.5 -4.3 28.2 32.6 -9.6 -0.7 4.9 11.3 31.7 123.4 6

 7 Checkable deposits and currency 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 7

 8 Small time and savings deposits 1851.7 1977.5 2047.4 2186.3 2284.3 2348.2 2349.9 2292.7 2222.4 2185.0 8

 9 Large time deposits 592.3 613.7 687.9 749.6 780.3 719.0 649.8 578.9 563.6 605.7 9

 10 Money market fund shares 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 10

 11 Security repurchase agreements 468.5 571.4 630.6 687.1 780.5 750.1 770.5 909.3 1037.4 1077.0 11

 12 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 12

 13 Security credit 129.9 140.7 102.0 107.7 118.8 119.5 172.7 164.4 220.9 218.1 13

 14 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 14

 15 Pension entitlements 2847.1 3130.2 3400.4 3701.0 4141.8 4435.3 4847.0 5342.8 5774.4 6096.0 15

 16 Trade payables 745.6 754.6 826.1 919.7 981.6 1026.0 1070.7 1129.6 1197.1 1304.5 16

 17 Taxes payable 69.4 76.3 80.0 80.8 78.7 80.9 73.0 80.2 86.0 86.2 17

 18 Miscellaneous 3110.6 3192.1 3397.5 3707.6 3955.4 4111.7 4387.3 4952.6 5176.7 5523.3 18

 19 Total liabilities 20839.1 23151.7 25176.0 27441.0 29716.2 31394.5 33105.8 35409.2 37999.2 40363.9 19

 + Financial assets not included in

 liabilities:

 20 Gold 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 20

 21 Corporate equities 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 21

 22 Household equity in noncorp. bus. 2506.9 2625.7 2739.2 2881.7 3000.5 3056.7 3015.8 2998.0 3137.4 3342.6 22

 - Liabilities not identified as assets:

 23 Treasury currency -3.8 -3.8 -4.0 -4.1 -4.3 -4.1 -4.7 -4.9 -5.1 -5.3 23

 24 Foreign deposits 105.8 129.9 165.9 167.1 214.2 243.1 221.1 216.1 231.6 323.7 24

 25 Net interbank transactions -48.2 -63.6 -61.4 -64.1 -71.1 -71.3 -57.9 -64.3 -58.1 -50.8 25

 26 Security repurchase agreements -16.5 -6.3 -22.0 -28.1 -26.2 -68.5 -102.0 -107.6 -85.8 -55.6 26

 27 Taxes payable 31.3 28.4 30.8 22.6 17.7 21.8 18.1 26.4 31.5 30.7 27

 28 Miscellaneous 185.3 -63.5 -248.1 -462.2 -475.7 -588.5 -467.1 -320.2 -440.0 -581.1 28

 - Floats not included in assets:

 29 Checkable deposits: State and local govt. 5.3 5.3 5.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Federal govt. 1.7 2.6 6.0 5.9 6.7 15.0 3.8 6.8 5.6 3.4 30

 31 Private domestic 32.0 23.0 23.4 24.3 22.1 30.5 35.1 36.6 35.4 32.6 31

 32 Trade credit -193.4 -203.4 -214.4 -238.9 -239.9 -245.1 -195.4 -173.5 -163.5 -156.5 32

 33 Totals identified to sectors as assets 25527.9 28621.8 30955.1 33986.8 37097.3 38660.6 41529.4 44224.7 47892.9 50493.9 33
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F.6 Distribution of Gross Domestic Product (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross Domestic Product (GDP) 4346.7 4590.2 4870.2 5252.6 5657.7 5979.6 6174.1 6539.3 6878.7 7308.8 1

 2 Personal consumption expenditures (2) 2722.7 2898.4 3092.1 3346.9 3592.8 3825.6 3960.2 4215.7 4471.0 4741.0 2

 3 Durable goods 380.4 421.4 442.0 475.1 494.3 497.1 477.2 508.1 551.5 607.2 3

 4 Nondurable goods 757.2 774.2 814.3 862.3 929.5 994.2 1020.3 1055.2 1090.8 1139.4 4

 5 Services 1585.1 1702.8 1835.8 2009.6 2169.0 2334.3 2462.7 2652.4 2828.7 2994.5 5

 6 Gross private domestic investment 829.7 849.1 892.2 937.0 999.7 993.5 944.3 1013.0 1106.8 1256.5 6

 7 Fixed investment (3) 807.8 842.6 865.0 918.5 972.0 978.9 944.7 996.7 1086.0 1192.7 7

 8 Nonresidential 607.8 607.8 615.2 662.3 716.0 739.2 723.6 741.9 799.2 868.9 8

 9 Household sector (nonprofit organizations) 28.2 30.6 35.3 38.2 41.9 45.2 47.3 49.4 48.1 49.0 9

 10 Nonfinancial corporate business 430.8 425.8 421.4 451.0 490.4 526.5 524.5 545.0 584.6 638.0 10

 11 Nonfinancial noncorporate business 83.7 80.1 84.2 91.2 92.3 78.6 70.5 66.2 77.0 85.0 11

 12 Financial institutions 65.1 71.1 74.3 81.9 91.3 88.9 81.3 81.3 89.6 96.9 12

 13 Residential 200.1 234.8 249.8 256.2 256.0 239.7 221.2 254.7 286.8 323.8 13

 14 Household sector 157.1 184.4 200.2 210.8 209.1 194.7 183.4 215.9 242.9 277.0 14

 15 Nonfinancial corporate business 1.8 2.0 2.0 1.9 1.9 1.7 1.9 -0.5 -3.0 -4.6 15

 16 Nonfinancial noncorporate business 41.1 48.2 47.4 43.4 44.8 43.1 35.7 36.8 41.7 44.3 16

 17 REITs 0.1 0.2 0.2 0.1 0.1 0.2 0.2 2.6 5.2 7.3 17

 18 Change in private inventories 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 18

 19 Nonfinancial corporate business 15.7 7.5 31.4 27.9 26.2 11.7 0.7 10.0 24.9 49.9 19

 20 Nonfinancial noncorporate business 6.1 -1.0 -4.3 -9.5 1.5 2.9 -1.1 6.4 -4.1 13.9 20

 21 Net U.S. exports of goods and services -114.0 -131.9 -144.8 -109.4 -86.7 -77.9 -28.6 -34.7 -65.2 -92.5 21

 22 Exports 303.2 321.0 363.9 444.6 504.3 551.9 594.9 633.1 654.8 720.9 22

 23 - Imports 417.2 452.9 508.7 554.0 591.0 629.7 623.5 667.8 720.0 813.4 23

 Government consumption expenditures and

 24 gross investment 908.4 974.5 1030.8 1078.2 1151.9 1238.4 1298.2 1345.4 1366.1 1403.7 24

 25 Consumption expenditures (4) 688.6 736.4 776.1 819.8 881.5 948.0 1004.1 1049.3 1074.2 1109.6 25

 26 Federal 316.8 336.5 347.8 360.8 380.2 401.8 423.9 430.2 427.7 427.3 26

 27 State and local 371.8 399.9 428.3 458.9 501.3 546.2 580.1 619.0 646.5 682.2 27

 28 Gross investment (4) 219.9 238.1 254.6 258.4 270.4 290.4 294.1 296.1 291.9 294.2 28

 29 Federal 132.5 141.9 152.4 148.0 151.2 158.2 156.8 156.4 150.7 145.4 29

 30 State and local 87.3 96.2 102.2 110.4 119.2 132.2 137.3 139.7 141.2 148.8 30

 Memo:

 31 Net U.S. income receipts from rest of the world 25.4 17.0 17.5 22.7 24.8 34.7 31.6 31.1 32.0 23.9 31

 32 U.S. income receipts 112.7 111.3 123.3 152.1 177.7 188.8 168.4 152.1 155.6 184.5 32

 33 - U.S. income payments 87.3 94.4 105.8 129.5 152.9 154.2 136.8 121.0 123.6 160.7 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 4372.1 4607.1 4887.7 5275.3 5682.5 6014.3 6205.6 6570.4 6910.7 7332.6 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 35

 36 Nonfinancial corporate business 0.7 2.2 -0.5 -0.8 -0.3 -0.7 -1.7 -1.7 -1.7 -1.7 36

 37 Federal government -1.2 -3.0 -0.4 -0.2 -0.7 -0.8 0.1 0.2 0.2 0.1 37

 38 State and local governments 3.1 3.7 4.2 4.3 4.9 5.7 5.8 5.8 5.9 6.2 38

 39 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 39

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

(2) Component of personal outlays, found on table F.101, line 4.

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

(4) Government inventory investment is included in consumption expenditures.
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8 Historical Annuals, 1985-1994, March 12, 2015

F.7 Distribution of National Income (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 National Income 3684.2 3848.2 4119.2 4493.4 4782.2 5036.1 5186.1 5499.7 5754.8 6140.2 1

 2 Compensation of employees 2389.0 2543.8 2724.3 2950.0 3142.6 3342.7 3452.0 3671.1 3820.7 4010.1 2

 3 Wages and salaries 1982.6 2102.3 2256.3 2439.8 2583.1 2741.2 2814.5 2965.5 3079.3 3236.6 3

 4 Employer social contributions 406.4 441.5 468.0 510.3 559.5 601.5 637.5 705.6 741.3 773.5 4

 Proprietors’ income with inventory

 5 valuation and capital consumption adjustments 241.1 256.5 286.5 325.8 341.9 354.4 356.0 402.4 430.5 459.5 5

 Rental income of persons (with capital

 6 consumption adjustment) 29.5 21.9 20.2 25.1 24.4 31.4 42.0 64.3 93.6 117.5 6

 Corporate profits with inventory

 7 valuation and capital consumption adjustments 354.5 324.4 366.0 414.9 414.2 417.2 451.3 475.3 522.0 621.9 7

 Corporate profits with inventory

 8 valuation adjustment 289.7 273.3 314.6 366.2 373.1 391.2 434.2 459.7 501.9 589.3 8

 9 Profits before tax 289.7 266.2 330.8 388.4 389.4 404.1 429.3 462.6 505.9 601.7 9

 10 Domestic nonfinancial 205.0 170.4 222.5 264.5 244.0 238.3 232.4 257.1 309.1 397.9 10

 11 Domestic financial 46.5 56.4 60.3 66.9 78.3 89.6 120.4 132.4 119.9 125.9 11

 12 Rest of the world 38.1 39.5 48.0 57.0 67.1 76.1 76.5 73.1 76.9 78.0 12

 Less:

 13 Taxes on corporate income 99.4 109.7 130.4 141.6 146.1 145.4 138.6 148.7 171.0 193.1 13

 14 Domestic nonfinancial 71.1 76.2 94.2 104.0 101.2 98.5 88.6 94.4 108.0 132.4 14

 15 Domestic financial 28.3 33.4 36.2 37.7 44.9 47.0 50.0 54.3 63.0 60.8 15

 Equals:

 16 Profits after tax 190.2 156.5 200.3 246.7 243.3 258.6 290.7 313.9 334.9 408.6 16

 17 Net dividends 97.5 106.2 112.3 129.9 158.0 169.1 180.5 189.5 205.3 236.0 17

 18 Domestic nonfinancial 72.0 72.9 76.3 82.2 105.4 118.3 125.5 134.3 149.2 158.0 18

 19 Domestic financial 13.7 15.4 19.4 15.9 21.0 25.8 30.7 27.2 35.6 39.8 19

 20 Rest of the world 11.8 17.9 16.7 31.9 31.6 25.0 24.3 28.0 20.6 38.2 20

 21 Undistributed profits 92.7 50.3 88.0 116.8 85.4 89.6 110.2 124.4 129.6 172.6 21

 22 Domestic nonfinancial 62.0 21.3 52.0 78.4 37.4 21.6 18.3 28.4 51.9 107.5 22

 23 Domestic financial 4.5 7.5 4.7 13.4 12.4 16.9 39.7 50.9 21.4 25.3 23

 24 Rest of the world 26.3 21.6 31.3 25.1 35.5 51.1 52.1 45.1 56.3 39.8 24

 25 Inventory valuation adjustment 0.0 7.1 -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 25

 26 Capital consumption adjustment 64.8 51.1 51.4 48.7 41.2 26.0 17.1 15.5 20.1 32.6 26

 27 Domestic nonfinancial 66.0 52.8 53.1 52.2 46.5 36.7 29.8 31.3 34.5 45.3 27

 28 Domestic financial -1.2 -1.7 -1.7 -3.5 -5.3 -10.7 -12.7 -15.8 -14.4 -12.7 28

 29 Net interest and miscellaneous payments 348.0 365.2 369.5 394.7 442.7 450.1 408.5 383.7 371.4 365.9 29

 30 Taxes on production and imports 308.1 323.4 347.5 374.5 398.9 425.0 457.1 483.4 503.1 545.2 30

 31 Less: Subsidies 21.4 24.9 30.3 29.5 27.4 27.0 27.5 30.1 36.7 32.5 31

 32 Business current transfer payments (net) 34.1 36.0 33.3 32.8 38.3 39.2 38.9 39.7 39.4 40.7 32

 33 Current surplus of government enterprises 1.3 2.0 2.2 5.0 6.7 3.2 7.8 9.9 10.8 11.8 33

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 34 National Income, from line 1 above 3684.2 3848.2 4119.2 4493.4 4782.2 5036.1 5186.1 5499.7 5754.8 6140.2 34

 Plus:

 35 Private consumption of fixed capital 496.4 531.6 566.3 608.3 650.1 689.0 722.4 744.2 780.0 824.3 35

 36 Government consumption of fixed capital 140.2 150.6 161.6 174.1 186.0 197.8 208.8 215.6 223.6 231.2 36

 37 Statistical discrepancy 51.3 76.7 40.6 -0.5 64.2 91.3 88.4 110.9 152.3 136.8 37

 Less:

 38 Net U.S. income receipts from rest of the world 25.4 17.0 17.5 22.7 24.8 34.7 31.6 31.1 32.0 23.9 38

 Equals:

 39 Gross Domestic Product 4346.7 4590.2 4870.2 5252.6 5657.7 5979.6 6174.1 6539.3 6878.7 7308.8 39

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

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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Historical Annuals, 1985-1994, March 12, 2015 9

F.8 Saving and Investment by Sector (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 884.0 867.8 952.2 1080.1 1113.6 1117.6 1157.9 1152.7 1167.9 1299.1 1

 2 Net saving 247.3 185.7 224.2 297.7 277.5 230.7 226.8 192.9 164.3 243.6 2

 3 Net private saving 422.7 377.9 375.3 438.1 426.7 438.1 498.1 563.1 513.3 524.2 3

 4 Domestic business 157.5 108.5 123.2 143.3 110.2 102.7 132.2 137.1 145.6 192.8 4

 5 Nonfinancial corporate business 152.0 100.8 117.5 130.9 99.8 91.8 100.9 97.4 131.6 173.8 5

 6 Financial business 5.5 7.7 5.8 12.4 10.4 10.8 31.4 39.6 14.1 19.0 6

 7 Households and institutions 265.1 269.4 252.1 294.7 316.5 335.4 365.9 426.0 367.6 331.4 7

 8 Net government saving -175.4 -192.2 -151.1 -140.4 -149.2 -207.4 -271.3 -370.2 -349.0 -280.7 8

 9 Federal -195.6 -212.7 -163.2 -157.3 -156.6 -200.9 -246.2 -332.7 -311.8 -253.7 9

 10 State and local 20.3 20.4 12.1 17.0 7.4 -6.5 -25.1 -37.5 -37.2 -27.0 10

 11 Consumption of fixed capital 636.7 682.2 728.0 782.4 836.1 886.8 931.1 959.7 1003.6 1055.6 11

 12 Private 496.4 531.6 566.3 608.3 650.1 689.0 722.4 744.2 780.0 824.3 12

 13 Domestic business 410.3 438.1 464.5 498.4 531.8 563.9 591.8 607.9 634.2 669.0 13

 14 Nonfinancial corporate business 299.0 317.9 334.7 357.7 380.1 403.0 424.5 437.8 457.9 484.8 14

 15 Nonfinancial noncorporate business 81.0 85.7 90.5 96.0 101.5 105.4 107.6 108.5 111.3 115.2 15

 16 Financial business 30.3 34.5 39.3 44.7 50.3 55.5 59.7 61.6 65.0 69.0 16

 17 Households and institutions 86.2 93.4 101.8 109.9 118.2 125.1 130.6 136.3 145.7 155.3 17

 18 Government 140.2 150.6 161.6 174.1 186.0 197.8 208.8 215.6 223.6 231.2 18

 19 Federal 93.3 100.3 107.5 116.3 124.2 131.1 137.9 141.4 145.3 148.3 19

 20 State and local 46.9 50.3 54.1 57.8 61.9 66.7 70.9 74.1 78.3 82.9 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 935.2 944.6 992.7 1079.6 1177.8 1208.9 1246.3 1263.6 1320.2 1436.0 21

 22 Gross domestic investment 1049.5 1087.2 1146.8 1195.4 1270.1 1283.8 1238.4 1309.1 1398.7 1550.7 22

 23 Gross private domestic investment 829.7 849.1 892.2 937.0 999.7 993.5 944.3 1013.0 1106.8 1256.5 23

 24 Domestic business 644.4 634.1 656.6 687.9 748.6 753.6 713.7 747.7 815.8 930.5 24

 25 Nonfinancial corporate business 446.9 433.7 452.8 478.5 516.1 538.4 525.6 555.1 609.3 688.8 25

 26 Nonfinancial noncorporate business 132.5 129.2 129.5 127.5 141.2 126.2 106.8 111.3 116.9 144.8 26

 27 Financial business 65.1 71.1 74.3 81.9 91.3 88.9 81.3 81.3 89.6 96.9 27

 28 Households and institutions 185.3 215.1 235.5 249.0 251.1 239.9 230.7 265.3 291.0 326.0 28

 29 Gross government investment 219.9 238.1 254.6 258.4 270.4 290.4 294.1 296.1 291.9 294.2 29

 30 Federal 132.5 141.9 152.4 148.0 151.2 158.2 156.8 156.4 150.7 145.4 30

 31 State and local 87.3 96.2 102.2 110.4 119.2 132.2 137.3 139.7 141.2 148.8 31

 32 Capital account transactions (net) (2) 0.1 0.1 0.1 0.1 0.3 7.4 5.3 -1.3 0.9 1.3 32

 33 Private 7.1 9.4 6.8 6.9 8.3 10.8 9.6 8.3 11.6 14.0 33

 34 Domestic business 0.7 2.2 -0.5 -0.8 1.3 -0.7 -0.6 6.8 -0.6 3.1 34

 35 Nonfinancial corporate business 0.7 2.2 -0.5 -0.8 -1.5 -0.7 -1.7 -8.7 -2.3 -5.0 35

 36 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 36

 37 Financial business 0.0 0.0 0.0 0.0 3.2 0.0 1.3 17.4 2.0 12.2 37

 38 Households and institutions 6.4 7.1 7.3 7.7 7.0 11.5 10.2 1.4 12.3 10.9 38

 39 Government -6.9 -9.3 -6.7 -6.8 -7.9 -3.4 -4.3 -9.5 -10.8 -12.7 39

 40 Federal 12.0 10.1 11.5 12.0 10.6 15.8 15.7 11.5 11.6 11.0 40

 41 State and local -18.9 -19.3 -18.2 -18.8 -18.5 -19.3 -20.0 -21.0 -22.3 -23.7 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -114.4 -142.8 -154.2 -115.9 -92.7 -82.3 2.6 -44.3 -79.4 -116.0 42

 43 Private 133.6 127.7 83.1 102.0 133.0 214.2 354.9 396.9 327.1 214.9 43

 44 Domestic business -26.0 -12.9 -27.9 -45.9 -43.7 5.0 99.3 101.3 117.0 65.1 44

 45 Nonfinancial corporate business (3) 54.7 59.5 40.4 10.4 29.5 48.3 89.9 99.7 134.8 111.6 45

 46 Nonfinancial noncorporate business -51.5 -43.5 -39.1 -31.4 -39.4 -20.8 1.0 -1.0 -5.3 -25.4 46

 47 Financial business -29.3 -28.9 -29.2 -24.8 -33.9 -22.6 8.5 2.6 -12.5 -21.1 47

 48 Households and institutions 159.6 140.6 111.0 147.9 176.7 209.2 255.6 295.6 210.1 149.8 48

 49 Government -248.1 -270.5 -237.4 -217.9 -225.7 -296.5 -352.3 -441.2 -406.5 -330.9 49

 50 Federal -246.8 -264.3 -219.5 -201.0 -194.3 -243.8 -280.8 -359.1 -328.8 -261.7 50

 51 State and local -1.3 -6.1 -17.9 -16.9 -31.4 -52.7 -71.6 -82.0 -77.7 -69.1 51

 52 Statistical discrepancy (line 21 less line 1) 51.3 76.7 40.6 -0.5 64.2 91.3 88.4 110.9 152.3 136.8 52

 Addenda:

 53 Disaster losses 1.7 0.0 0.0 0.0 9.0 0.0 1.5 17.9 4.1 20.4 53

 54 Private 1.7 0.0 0.0 0.0 7.9 0.0 1.5 17.9 4.1 18.4 54

 55 Domestic business 0.5 0.0 0.0 0.0 4.7 0.0 0.3 8.2 2.5 13.6 55

 56 Households and institutions 1.2 0.0 0.0 0.0 3.3 0.0 1.2 9.8 1.6 4.8 56

 57 Government 0.0 0.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0 2.0 57

 58 Federal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

 59 State and local 0.0 0.0 0.0 0.0 1.0 0.0 0.0 0.0 0.0 2.0 59

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

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

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

(3) Differs from net lending or net borrowing (capital account) in the Integrated Macroeconomic Accounts of the United States by the statistical discrepancy (line 52).
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10 Historical Annuals, 1985-1994, March 12, 2015

F.9 Net Capital Transfers (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Capital transfers paid, by sector 28.5 30.1 29.7 30.9 35.9 44.0 43.4 57.6 44.0 58.8 1

 2 By private business 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 2

 3 Financial corporations 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 3

 4 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 4

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

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

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

 8 By government 19.6 20.1 19.1 19.8 20.2 28.2 26.5 22.6 24.3 26.0 8

 9 Federal 19.6 20.1 19.1 19.8 20.2 28.2 26.5 22.6 24.3 26.0 9

 10 Investment grants to state and local govts. 19.4 20.0 19.0 19.6 19.9 20.8 21.2 22.4 23.5 24.8 10

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

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

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

 14 Other capital transfers paid to persons 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Capital transfers paid to the rest of the world (net) 0.1 0.1 0.1 0.1 0.3 7.4 5.3 0.2 0.8 1.2 15

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

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

 18 By persons 8.9 10.0 10.6 11.1 12.4 15.8 15.6 15.8 17.6 20.2 18

 19 Estate and gift taxes, federal 6.4 7.0 7.2 7.6 8.9 11.6 11.0 11.3 12.9 15.1 19

 20 Estate and gift taxes, state and local 2.6 3.0 3.4 3.5 3.5 4.2 4.6 4.5 4.7 5.1 20

 21 By the rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.0 0.0 21

 22 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.0 0.0 22

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

 24 Capital transfers received, by sector 28.5 30.1 29.7 30.9 35.9 44.0 43.4 57.6 44.0 58.8 24

 25 By private business 0.0 0.0 0.0 0.0 1.6 0.0 0.1 9.1 1.0 7.7 25

 26 Financial corporations 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.3 0.0 0.3 26

 27 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.3 0.0 0.3 27

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

 29 Nonfinancial corporations 0.0 0.0 0.0 0.0 1.2 0.0 0.0 7.0 0.6 3.3 29

 30 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 1.2 0.0 0.0 7.0 0.6 3.3 30

 31 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Noncorporate business 0.0 0.0 0.0 0.0 0.4 0.0 0.1 1.8 0.4 4.1 32

 33 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.4 0.0 0.1 1.8 0.4 4.1 33

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

 35 By government 28.4 30.0 29.5 30.7 32.3 36.6 36.8 38.2 41.1 45.0 35

 36 Federal 6.4 7.0 7.2 7.6 8.9 11.6 11.0 11.3 12.9 15.1 36

 37 Estate and gift taxes paid by persons 6.4 7.0 7.2 7.6 8.9 11.6 11.0 11.3 12.9 15.1 37

 38 State and local 22.0 23.0 22.3 23.1 23.4 25.0 25.8 26.9 28.2 29.9 38

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

 40 Estate and gift taxes paid by persons 2.6 3.0 3.4 3.5 3.5 4.2 4.6 4.5 4.7 5.1 40

 41 Investment grants paid by federal government 19.4 20.0 19.0 19.6 19.9 20.8 21.2 22.4 23.5 24.8 41

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

 43 By persons 0.0 0.0 0.0 0.0 1.6 0.0 1.1 10.1 1.1 4.8 43

 44 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 1.6 0.0 1.1 10.1 1.1 4.8 44

 45 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 By the rest of the world 0.1 0.1 0.1 0.1 0.3 7.4 5.3 0.2 0.8 1.2 46

 47 Capital transfers paid by U.S. government 0.1 0.1 0.1 0.1 0.3 7.4 5.3 0.2 0.8 1.2 47

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

 Addenda: Net capital transfers paid by sector

 49 By private business (lines 2-25) -0.0 0.0 0.0 0.0 1.6 0.0 1.1 8.6 1.1 4.8 49

 50 Financial corporations (lines 3-26) 0.0 0.0 0.0 0.0 3.2 0.0 1.3 17.4 2.0 12.2 50

 51 Property-casualty insurance companies (line 4) 0.0 0.0 0.0 0.0 3.3 0.0 1.3 17.7 2.1 12.5 51

 52 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 -0.1 0.0 0.0 -0.3 -0.0 -0.3 52

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

 54 Other (lines 5-27) 0.0 0.0 0.0 0.0 -0.1 0.0 0.0 -0.3 -0.0 -0.3 54

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

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

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

 58 Nonfinancial corporations (lines 6-29) -0.0 0.0 0.0 0.0 -1.2 0.0 0.0 -7.0 -0.6 -3.3 58

 59 Noncorporate business (lines 7-32) 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 59

 60 By government (lines 8-35) -8.8 -9.9 -10.4 -11.0 -12.1 -8.4 -10.3 -15.6 -16.8 -19.0 60

 61 Federal (lines 9-36) 13.2 13.1 11.9 12.1 11.3 16.6 15.5 11.3 11.4 10.9 61

 62 State and local (lines 16-38) -22.0 -23.0 -22.3 -23.1 -23.4 -25.0 -25.8 -26.9 -28.2 -29.9 62

 63 By persons (lines 18-43) 8.9 10.0 10.6 11.1 10.8 15.8 14.5 5.7 16.6 15.5 63

 64 By the rest of the world (lines 21-46) -0.1 -0.1 -0.1 -0.1 -0.3 -7.4 -5.3 1.3 -0.8 -1.2 64

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

(2) Sum of lines 53, 55, 56, and 57 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Financial Accounts of the United States.
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Historical Annuals, 1985-1994, March 12, 2015 11

F.10 Derivation of Measures of Personal Saving (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 588.2 647.3 529.1 631.0 513.3 646.0 500.0 556.9 580.6 593.3 1

 2 Foreign deposits 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 2

 3 Checkable deposits and currency 32.1 119.7 0.2 4.2 2.9 -9.2 56.3 116.8 54.3 -18.8 3

 4 Time and savings deposits 143.1 124.3 145.1 173.8 87.0 52.7 -79.9 -108.0 -119.3 -21.0 4

 5 Money market fund shares 3.3 42.0 20.7 19.2 78.6 39.2 19.0 -39.8 -0.9 13.9 5

 6 Securities 94.9 64.8 91.4 57.8 9.5 200.7 128.1 210.0 200.0 195.8 6

 7 Open market paper -9.2 -0.3 -0.8 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 7

 8 Treasury securities 11.6 -2.4 33.5 78.5 41.9 96.6 25.1 83.3 49.3 170.0 8

 9 Agency- and GSE-backed securities -7.7 1.7 7.1 19.6 21.2 35.3 6.4 1.7 -56.8 110.3 9

 10 Municipal securities 103.6 15.2 105.6 56.8 27.9 34.7 54.7 -28.3 -28.3 -46.3 10

 11 Corporate and foreign bonds 46.5 31.9 31.7 -11.8 5.4 47.0 28.7 -2.0 114.0 94.5 11

 12 Corporate equities (2) -130.1 -122.6 -143.8 -122.3 -110.1 -50.8 -53.9 27.2 -118.7 -145.3 12

 13 Mutual fund shares 79.7 139.4 59.0 -1.7 27.3 31.5 102.7 133.3 227.5 3.2 13

 14 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 14

 15 Pension entitlements 231.0 230.1 225.1 284.5 267.3 300.3 301.8 333.8 359.3 338.9 15

 16 Miscellaneous and other assets 71.5 47.3 19.8 64.4 37.8 34.3 46.7 13.7 51.2 45.9 16

 17 Gross investment in nonfinancial assets 668.3 736.1 775.0 812.7 845.8 825.1 777.9 846.8 917.7 1025.0 17

 18 Residential fixed investment 198.2 232.6 247.7 254.2 254.0 237.8 219.1 252.7 284.7 321.2 18

 19 Nonresidential fixed investment 111.9 110.8 119.5 129.4 134.2 123.8 117.8 115.6 125.1 134.0 19

 20 Consumer durables 354.7 396.6 415.4 441.9 460.0 465.0 446.4 476.4 516.3 560.5 20

 21 Nonproduced nonfinancial assets -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 21

 22 Inventories 6.1 -1.0 -4.3 -9.5 1.5 2.9 -1.1 6.4 -4.1 13.9 22

 23 Consumption of fixed capital 428.6 467.2 506.9 544.0 583.6 617.8 645.5 665.0 699.7 737.5 23

 24 Residential fixed investment 91.6 99.7 108.7 116.6 124.3 130.0 134.0 138.1 146.9 156.2 24

 25 Nonresidential fixed investment 75.6 79.6 83.8 89.5 95.7 100.8 104.5 106.8 110.3 114.5 25

 26 Consumer durables 261.4 288.0 314.5 337.9 363.6 387.1 407.0 420.0 442.5 466.8 26

 27 Net investment in nonfinancial assets (3) 239.7 268.9 268.2 268.7 262.3 207.3 132.4 181.8 217.9 287.5 27

 28 Residential fixed investment 106.6 132.9 139.0 137.6 129.7 107.8 85.1 114.5 137.8 165.0 28

 29 Nonresidential fixed investment 36.2 31.2 35.8 39.9 38.6 23.0 13.3 8.8 14.8 19.5 29

 30 Consumer durables 93.3 108.7 100.9 104.1 96.3 77.9 39.4 56.4 73.8 93.7 30

 31 Nonproduced nonfinancial assets -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 31

 32 Inventories 6.1 -1.0 -4.3 -9.5 1.5 2.9 -1.1 6.4 -4.1 13.9 32

 33 Net increase in liabilities 435.9 343.5 311.0 389.1 370.2 237.5 185.4 203.1 252.9 368.4 33

 34 Home mortgages 181.2 203.8 239.2 222.5 226.5 206.9 166.8 169.0 157.0 175.9 34

 35 Other mortgages 74.0 67.6 36.2 72.9 37.0 -4.4 -11.0 -19.4 -12.1 -14.8 35

 36 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 36

 37 Policy loans -0.1 -0.1 -0.0 -0.0 3.2 4.1 4.8 5.7 5.6 7.8 37

 38 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 38

 39 Other liabilities 77.9 9.8 19.6 45.5 57.4 19.5 17.4 40.3 18.4 65.6 39

 40 Net capital transfers paid (4) 8.9 10.0 10.6 11.1 10.4 15.8 14.3 3.9 16.2 11.3 40

 41 Personal saving, FOF concept (FOF) 400.9 582.8 496.9 521.7 415.8 631.5 461.2 539.4 561.9 523.8 41

 42 - Net investment in consumer durables 93.3 108.7 100.9 104.1 96.3 77.9 39.4 56.4 73.8 93.7 42

 43 - Government insurance and pension fund reserves (5) 1.5 2.3 1.1 1.3 1.2 0.8 1.5 1.1 0.7 0.5 43

 44 + Contr. for govt. soc. insur., U.S.-affiliated areas 1.4 1.5 1.5 1.7 1.7 2.0 2.1 2.1 2.2 2.5 44

 45 = Personal saving, NIPA concept (FOF) (6) 307.6 473.3 396.4 418.0 320.0 554.7 422.4 484.0 489.6 432.1 45

 46 Personal saving, NIPA concept (NIPA) 265.1 269.4 252.1 294.7 316.5 335.4 365.9 426.0 367.6 331.4 46

 47 Difference 42.4 203.9 144.3 123.2 3.4 219.2 56.5 58.0 122.0 100.7 47

 Memo:

 48 Disposable personal income 3098.5 3287.9 3466.3 3770.4 4052.1 4311.8 4484.5 4800.3 5000.2 5244.2 48

 Personal saving as a percentage of disposable personal income:

 49 FOF concept (FOF data) (line 41) 12.9 17.7 14.3 13.8 10.3 14.6 10.3 11.2 11.2 10.0 49

 50 NIPA concept (FOF data) (line 44) 9.9 14.4 11.4 11.1 7.9 12.9 9.4 10.1 9.8 8.2 50

 51 NIPA concept (NIPA data) (line 45) 8.6 8.2 7.3 7.8 7.8 7.8 8.2 8.9 7.4 6.3 51

 52 Difference (line 46) 1.4 6.2 4.2 3.3 0.1 5.1 1.3 1.2 2.4 1.9 52

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

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

(3) Line 17 less line 23.

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

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

(6) Line 45 and 46 are conceptually equivalent but measure saving using different data. Line 45 is net acquisition of financial assets net of government insurance and pension fund reserves (line 1 less line 43) and

 including contributions for government social insurance to U.S.-affiliated areas, plus net investment in nonfinancial assets net of consumer durables (line 27 less line 42) less net increase in liabilities (line 33)

 plus net capital transfers paid (line 40). Personal savings, NIPA concept (NIPA) (line 46) is disposable personal income (line 48) less personal outlays (table F.101, line 4).
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12 Historical Annuals, 1985-1994, March 12, 2015

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 8653.2 9761.1 10411.3 11569.2 12798.8 13290.6 14765.2 15725.0 16940.4 17589.3 1

 2 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 2

 3 Checkable deposits and currency 416.6 536.3 536.1 540.3 543.2 534.0 590.3 707.1 761.4 742.6 3

 4 Time and savings deposits 2135.3 2255.5 2392.8 2585.3 2672.4 2724.9 2645.0 2424.9 2305.6 2284.7 4

 5 Money market fund shares 196.3 238.4 259.1 278.3 356.9 396.1 415.1 375.3 374.3 388.2 5

 6 Securities 2286.3 2759.2 2938.9 3488.6 4039.5 4093.0 5085.5 5648.5 6409.5 6678.5 6

 7 Open market paper 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 7

 8 Treasury securities 282.2 270.9 308.2 393.5 394.9 503.8 535.3 627.1 672.9 870.9 8

 9 Agency- and GSE-backed securities 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.4 9

 10 Municipal securities 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 642.3 595.7 10

 11 Corporate and foreign bonds 80.1 114.4 129.7 157.6 196.1 245.1 257.9 275.6 422.3 545.7 11

 12 Corporate equities (2) 1229.5 1494.0 1462.6 1756.7 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 12

 13 Mutual fund shares 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 13

 14 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 14

 15 Pension entitlements 2847.1 3130.2 3400.4 3701.0 4141.8 4435.3 4847.0 5342.8 5774.4 6096.0 15

 16 Life insurance companies 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 16

 17 Private pension funds 1215.6 1312.4 1454.2 1557.4 1730.7 1812.3 2018.5 2157.5 2346.9 2477.7 17

 18 Governments 1371.1 1489.9 1597.6 1708.1 1915.5 2053.2 2207.4 2491.9 2652.4 2821.6 18

 19 Miscellaneous and other assets 499.4 550.2 564.7 629.4 668.0 702.1 749.1 763.1 814.6 860.1 19

 20 Total liabilities 3514.2 3841.7 4101.8 4517.9 4881.4 5142.5 5331.6 5535.1 5791.1 6158.4 20

 21 Home mortgages 1519.6 1722.8 1920.0 2153.2 2360.1 2596.2 2766.7 2935.6 3095.0 3270.9 21

 22 Other mortgages 677.1 744.7 780.9 862.5 899.5 895.1 884.1 864.7 852.6 837.8 22

 23 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 23

 24 Policy loans 55.5 55.4 55.3 55.3 58.4 62.5 67.3 73.0 78.6 86.4 24

 25 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 25

 26 Other liabilities 600.8 595.1 605.1 658.3 711.4 725.4 742.9 783.5 802.7 867.1 26

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 13), life insurance reserves (line 14), and pension entitlements (line 15).
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Historical Annuals, 1985-1994, March 12, 2015 13

F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid 1201.4 1220.8 1320.9 1463.3 1513.5 1505.5 1505.4 1543.1 1602.3 1779.4 1

 2 Gross investment 1078.0 1390.4 1440.9 1435.1 1379.4 1749.3 1566.0 1592.7 1833.2 1995.5 2

 3 Capital expenditures 1339.0 1412.5 1487.7 1555.2 1638.6 1659.7 1603.3 1701.7 1820.4 2007.0 3

 4 Consumer durables 354.7 396.6 415.4 441.9 460.0 465.0 446.4 476.4 516.3 560.5 4

 5 Fixed residential investment 205.3 240.0 255.5 261.9 261.4 245.6 226.4 258.8 288.2 322.3 5

 6 Fixed nonresidential investment 757.2 769.3 789.7 833.0 889.6 934.6 931.0 950.0 995.0 1060.5 6

 7 Inventory change 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 7

 8 Nonproduced nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Net lending (+) or net borrowing (-) -261.1 -22.1 -46.8 -120.2 -259.2 89.6 -37.3 -109.0 12.9 -11.5 9

 10 Net acqisition of financial assets 992.9 861.0 797.2 986.6 739.7 907.7 729.7 716.0 962.9 882.3 10

 11 U.S. official reserve assets 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 11

 12 Foreign deposits 3.6 4.0 -3.1 6.2 -6.1 1.4 2.7 0.5 -2.4 4.3 12

 13 Checkable deposits and currency 69.4 124.1 0.9 30.2 -1.9 0.5 97.1 96.9 97.6 -26.9 13

 14 Time and savings deposits 150.3 143.1 152.8 167.9 82.4 43.8 -87.8 -116.4 -104.9 -10.3 14

 15 Money market fund shares 1.8 42.4 21.7 13.7 78.7 48.5 23.5 -26.4 -2.8 21.1 15

 16 Security repurchase agreements 20.5 6.5 10.2 0.6 13.9 5.1 6.2 8.0 8.1 -15.4 16

 17 Credit market instruments 325.4 119.9 233.0 238.4 163.1 272.7 164.4 60.3 96.5 288.4 17

 18 Open market paper -8.4 -0.6 4.2 37.4 -4.2 7.7 -29.3 1.7 18.5 8.5 18

 19 Treasury securities 109.2 55.9 65.9 81.8 71.8 124.8 55.5 83.8 67.8 99.0 19

 20 Agency- and GSE-backed securities 21.5 -1.4 12.6 45.8 55.2 17.8 19.9 17.3 -46.2 122.8 20

 21 Municipal securities 107.3 15.5 99.7 54.3 44.0 27.8 74.9 -28.4 -20.4 -45.2 21

 22 Corporate and foreign bonds 49.5 33.9 33.7 -10.8 7.4 48.0 30.7 0.9 119.6 99.9 22

 23 Other loans and advances 15.9 9.2 -2.6 -8.4 -2.3 -1.9 -4.9 -0.0 -10.5 1.9 23

 24 Mortgages 26.1 3.0 12.4 31.7 -12.0 45.2 21.8 -17.8 -39.4 -14.3 24

 25 Consumer credit 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 7.3 15.9 25

 26 Corporate equities -130.1 -122.4 -143.2 -121.4 -109.0 -49.0 -53.9 28.2 -117.8 -143.8 26

 27 Mutual fund shares 83.4 143.2 56.4 -4.3 27.2 34.0 107.9 142.9 239.4 13.4 27

 28 Trade receivables 57.2 8.8 77.0 107.5 55.5 32.6 -9.1 31.1 56.8 89.9 28

 29 Security credit 21.9 9.2 -18.8 4.0 10.2 9.6 30.6 -9.9 26.8 3.4 29

 30 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 30

 31 Pension entitlements 231.0 230.1 225.1 284.5 267.3 300.3 301.8 333.8 359.3 338.9 31

 32 Taxes payable -2.0 1.0 -5.7 -3.2 -0.8 -5.8 -5.2 -0.4 -5.8 -5.0 32

 33 Equity in noncorpate business -19.5 -8.5 -28.3 -33.4 -36.2 20.4 27.3 29.7 45.7 44.0 33

 34 U.S. direct investment abroad 14.3 19.0 29.7 11.8 26.1 35.6 38.1 40.0 57.9 78.5 34

 35 Miscellaneous assets 152.3 123.0 168.0 256.6 127.1 130.5 61.8 70.3 170.4 168.9 35

 36 Net increase in liabilities 1253.9 883.1 844.0 1106.7 999.0 818.1 767.0 825.0 950.1 893.8 36

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

 38 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 38

 39 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 39

 40 Credit market instruments 955.4 844.7 721.6 786.3 684.3 658.8 472.6 514.4 667.3 639.0 40

 41 Open market paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 41

 42 Treasury securities 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 42

 43 Agency- and GSE-backed securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 43

 44 Municipal securities 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 44

 45 Corporate and foreign bonds 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 45

 46 Depository institution loans n.e.c. 48.5 64.8 13.5 46.1 24.8 -5.6 -49.2 -21.8 5.9 71.5 46

 47 Other loans and advances 31.3 43.2 39.1 45.9 56.3 71.0 -48.5 13.1 -29.4 46.1 47

 48 Mortgages 260.0 287.3 320.9 322.2 264.8 225.8 147.0 110.4 113.6 154.4 48

 49 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 49

 50 Corporate equities -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 50

 51 Trade payables 63.7 22.3 71.7 82.4 60.7 44.7 39.6 57.1 62.0 105.8 51

 52 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 52

 53 Life insurance reserves 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 53

 54 Taxes payable 0.3 5.4 5.7 -0.6 -1.4 0.6 -8.9 7.1 3.6 1.0 54

 55 Equity in noncorpate business -19.6 -9.7 -27.5 -33.5 -34.5 21.1 26.9 29.6 44.8 45.1 55

 56 Foreign direct investment in U.S. 18.2 33.0 53.1 70.7 63.7 59.8 -1.4 6.8 20.4 46.1 56

 57 Miscellaneous liabilities 300.0 63.8 109.6 327.6 346.0 96.2 202.5 185.0 106.2 100.8 57

 58 Discrepancy 123.5 -169.6 -120.0 28.2 134.1 -243.8 -60.6 -49.6 -230.9 -216.0 58

(1) Sum of domestic nonfinancial sectors shown on tables F.101 through F.107.
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14 Historical Annuals, 1985-1994, March 12, 2015

F.101 Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Personal income 3515.9 3725.1 3955.3 4275.3 4618.2 4904.5 5071.1 5410.8 5646.8 5934.7 1

 2 - Personal current taxes 417.3 437.2 489.1 504.9 566.1 592.7 586.6 610.5 646.5 690.5 2

 3 = Disposable personal income 3098.5 3287.9 3466.3 3770.4 4052.1 4311.8 4484.5 4800.3 5000.2 5244.2 3

 4 - Personal outlays 2833.4 3018.5 3214.2 3475.7 3735.6 3976.3 4118.6 4374.2 4632.6 4912.8 4

 5 = Personal saving, NIPA (2) 265.1 269.4 252.1 294.7 316.5 335.4 365.9 426.0 367.6 331.4 5

 6 + Government insurance and pension reserves (3) 1.5 2.3 1.1 1.3 1.2 0.8 1.5 1.1 0.7 0.5 6

 7 - Contr. for govt. soc. insur., U.S.-affiliated areas 1.4 1.5 1.5 1.7 1.7 2.0 2.1 2.1 2.2 2.5 7

 8 + Net investment in consumer durables 93.3 108.7 100.9 104.1 96.3 77.9 39.4 56.4 73.8 93.7 8

 9 + Consumption of fixed capital 346.6 380.4 415.2 446.6 480.6 510.9 536.3 554.9 586.8 620.6 9

 10 - Net capital transfers paid (4) 8.9 10.0 10.6 11.1 10.8 15.8 14.5 5.7 16.6 15.5 10

 11 = Gross saving less net capital transfers paid 696.1 749.2 757.2 834.0 882.3 907.4 926.5 1030.7 1010.1 1028.2 11

 12 Gross investment 738.6 953.2 901.5 957.2 885.7 1126.6 983.1 1088.6 1132.1 1128.9 12

 13 Capital expenditures 537.4 608.8 647.7 687.5 707.2 700.6 672.8 737.5 803.0 881.9 13

 14 Consumer durable goods 354.7 396.6 415.4 441.9 460.0 465.0 446.4 476.4 516.3 560.5 14

 15 Residential 157.1 184.4 200.2 210.8 209.1 194.7 183.4 215.9 242.9 277.0 15

 16 Nonprofit nonresidential 28.2 30.6 35.3 38.2 41.9 45.2 47.3 49.4 48.1 49.0 16

 17 Nonproduced nonfinancial assets -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 17

 18 Net lending (+) or net borrowing (-) 201.2 344.3 253.9 269.7 178.5 426.1 310.2 351.2 329.1 247.0 18

 19 Net acquisition of financial assets 534.7 611.5 507.0 546.5 470.9 665.3 518.8 559.8 597.8 576.0 19

 20 Foreign deposits 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 20

 21 Checkable deposits and currency 17.8 117.1 -0.7 -0.4 1.7 -11.4 54.2 111.4 51.1 -31.2 21

 22 Time and savings deposits 137.6 122.6 147.0 167.3 85.6 50.1 -82.1 -114.9 -122.7 -24.6 22

 23 Money market fund shares 3.3 41.9 20.8 17.0 78.1 38.3 18.3 -42.2 -2.1 9.6 23

 24 Credit market instruments 149.2 42.4 191.5 183.5 99.5 229.4 81.3 42.8 81.6 324.6 24

 25 Open market paper -9.2 -0.3 -0.8 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 25

 26 Treasury securities 11.6 -2.4 33.5 78.5 41.9 96.6 25.1 83.3 49.3 170.0 26

 27 Agency- and GSE-backed securities -7.7 1.7 7.1 19.6 21.2 35.3 6.4 1.7 -56.8 110.3 27

 28 Municipal securities 103.6 15.2 105.6 56.8 27.9 34.7 54.7 -28.3 -29.8 -46.5 28

 29 Corporate and foreign bonds 46.5 31.9 31.7 -11.8 5.4 47.0 28.7 -2.0 114.0 94.5 29

 30 Other loans and advances (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Mortgages 4.3 -3.6 14.4 2.3 8.9 10.0 1.7 -6.0 -7.5 -8.5 31

 32 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Corporate equities (6) -130.1 -122.6 -143.8 -122.3 -110.1 -50.8 -53.9 27.2 -118.7 -145.3 33

 34 Mutual fund shares 79.7 139.4 59.0 -1.7 27.3 31.5 102.7 133.3 227.5 3.2 34

 35 Security credit 21.9 9.2 -18.8 4.0 10.2 9.6 30.6 -9.9 26.8 3.4 35

 36 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 36

 37 Pension entitlements (7) 231.0 230.1 225.1 284.5 267.3 300.3 301.8 333.8 359.3 338.9 37

 38 Equity in noncorporate business -19.5 -8.5 -28.3 -33.4 -36.2 20.4 27.3 29.7 45.7 44.0 38

 39 Miscellaneous assets 31.3 20.7 28.3 21.0 17.1 20.0 10.7 18.3 13.3 14.7 39

 40 Net increase in liabilities 333.5 267.2 253.2 276.8 292.4 239.2 208.6 208.6 268.7 329.0 40

 41 Credit market instruments 311.4 259.5 263.6 272.2 276.3 233.5 183.6 204.3 239.6 324.4 41

 42 Home mortgages (8) 181.7 199.3 221.6 215.6 224.9 200.0 174.5 173.0 156.3 166.5 42

 43 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 43

 44 Municipal securities 30.2 -3.0 -0.3 1.5 3.2 3.0 3.8 2.4 1.1 3.2 44

 45 Depository institution loans n.e.c. (9) 5.4 -1.5 0.4 0.4 -9.5 0.9 -1.9 7.0 8.8 9.4 45

 46 Other loans and advances 6.9 4.3 3.3 3.8 3.6 7.3 7.4 6.2 1.3 11.1 46

 47 Commercial mortgages 3.2 4.7 6.3 4.4 7.2 7.2 8.6 6.6 10.7 -0.8 47

 48 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 48

 49 Trade payables 3.1 2.3 4.7 2.4 16.2 9.3 9.4 5.9 6.0 5.2 49

 50 Deferred and unpaid life insurance premiums 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 50

 51 Discrepancy -42.4 -203.9 -144.3 -123.2 -3.4 -219.2 -56.5 -58.0 -122.0 -100.7 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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Historical Annuals, 1985-1994, March 12, 2015 15

F.102 Nonfinancial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Income before taxes 479.8 458.2 539.0 619.0 613.7 624.2 624.6 703.9 790.6 912.7 1

 2 Gross saving less net capital transfers paid 533.2 505.6 543.8 586.0 583.6 600.0 632.6 652.6 701.5 782.2 2

 3 Gross investment 366.7 467.3 501.6 484.3 455.5 586.9 650.4 648.9 832.2 833.6 3

 4 Capital expenditures 579.9 564.9 581.7 605.1 656.9 663.8 630.4 662.1 719.4 824.7 4

 5 Fixed investment 557.4 556.1 555.0 587.4 629.5 649.9 632.6 647.5 700.3 762.6 5

 6 Residential 42.9 50.2 49.4 45.2 46.7 44.8 37.6 36.3 38.7 39.6 6

 7 Nonresidential 514.5 506.0 505.6 542.2 582.8 605.1 595.0 611.2 661.6 722.9 7

 8 Change in inventories 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 8

 9 Nonproduced nonfinancial assets 0.7 2.2 -0.5 -0.8 -0.3 -0.7 -1.7 -1.7 -1.7 -1.7 9

 10 Net lending (+) or net borrowing (-) -213.2 -97.7 -80.1 -120.8 -201.4 -76.9 19.9 -13.1 112.8 9.0 10

 11 Net acquisition of financial assets 246.9 157.5 223.4 401.3 189.3 126.3 91.1 172.4 360.3 336.1 11

 12 Foreign deposits 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 12

 13 Checkable deposits and currency 37.5 4.1 10.4 18.6 10.3 8.4 9.1 1.2 23.8 24.2 13

 14 Time and savings deposits 5.7 17.9 -1.5 2.9 -0.3 -3.4 5.2 5.4 19.4 8.0 14

 15 Money market fund shares -1.5 0.5 0.8 -3.3 0.5 10.2 5.2 15.8 -2.5 7.4 15

 16 Security repurchase agreements -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 16

 17 Credit market instruments 21.8 -2.9 -8.5 29.4 21.1 -29.6 25.4 27.7 7.9 24.5 17

 18 Commercial paper 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 18

 19 Treasury securities 4.9 1.2 -9.5 -3.3 25.1 -13.2 5.5 17.9 -11.1 6.7 19

 20 Agency- and GSE-backed securities -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 20

 21 Municipal securities 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 10.4 2.1 21

 22 Mortgages 10.2 -6.2 -5.4 26.6 -26.4 -5.7 1.2 0.2 -11.1 6.0 22

 23 Consumer credit 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 6.9 9.4 23

 24 Mutual fund shares 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 24

 25 Trade receivables 49.7 10.2 65.3 102.6 48.9 31.9 -6.9 34.7 55.6 88.2 25

 26 U.S. direct investment abroad 14.3 19.0 29.7 11.8 26.1 35.6 38.1 40.0 57.9 78.5 26

 27 Miscellaneous assets 113.6 100.1 134.4 235.1 93.3 74.8 11.4 39.9 195.2 102.4 27

 28 Net increase in liabilities 460.1 255.2 303.4 522.1 390.7 203.2 71.1 185.5 247.5 327.1 28

 29 Credit market instruments 254.7 295.0 223.7 308.5 214.3 131.3 -80.5 -10.5 113.7 204.3 29

 30 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 30

 31 Municipal securities 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 31

 32 Corporate bonds 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 32

 33 Depository institution loans n.e.c. 43.1 66.3 13.1 45.8 34.4 -6.5 -47.3 -28.8 -2.9 62.1 33

 34 Other loans and advances 16.2 37.5 38.1 45.3 52.9 62.8 -56.3 7.0 -30.0 34.6 34

 35 Mortgages 75.1 83.3 93.0 102.2 32.7 18.5 -36.1 -69.2 -53.4 -11.3 35

 36 Corporate equities -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 36

 37 Trade payables 41.2 -4.1 49.4 61.2 24.1 28.3 22.0 39.7 38.0 84.8 37

 38 Taxes payable 0.3 5.4 5.7 -0.6 -1.4 0.6 -8.9 7.1 3.6 1.0 38

 39 Foreign direct investment in U.S. 18.2 33.0 53.1 70.7 63.7 59.8 -1.4 6.8 20.4 46.1 39

 40 Miscellaneous liabilities 249.9 20.6 74.6 245.3 248.6 25.1 94.7 85.7 5.7 -9.4 40

 41 Proprietors’ net investment -19.6 -9.7 -27.5 -33.5 -34.5 21.1 26.9 29.6 44.8 45.1 41

 42 Discrepancy 166.5 38.3 42.2 101.6 128.1 13.2 -17.8 3.7 -130.7 -51.5 42

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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16 Historical Annuals, 1985-1994, March 12, 2015

F.103 Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Profits before tax (book) 205.0 170.4 222.5 264.5 244.0 238.3 232.4 257.1 309.1 397.9 1

 2 - Taxes on corporate income 71.1 76.2 94.2 104.0 101.2 98.5 88.6 94.4 108.0 132.4 2

 3 - Net dividends 72.0 72.9 76.3 82.2 105.4 118.3 125.5 134.3 149.2 158.0 3

 4 + Capital consumption allowance (1) 364.9 370.5 387.6 409.6 426.3 439.4 454.0 468.6 491.2 528.8 4

 5 = U.S. internal funds, book 426.8 391.8 439.6 488.0 463.7 461.0 472.3 497.0 543.1 636.4 5

 6 + Foreign earnings retained abroad 24.3 19.9 28.7 22.8 31.7 45.0 46.0 39.5 48.5 33.9 6

 7 + Inventory valuation adjustment (IVA) 0.0 7.1 -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 7

 8 - Net capital transfers paid (2) -0.0 0.0 0.0 0.0 -1.2 0.0 0.0 -7.0 -0.6 -3.3 8

 9 = Total internal funds + IVA 451.1 418.7 452.1 488.6 480.2 493.1 523.2 540.7 588.2 661.1 9

 10 Gross investment 284.6 380.5 410.0 387.0 352.2 480.0 541.0 537.0 718.9 712.6 10

 11 Capital expenditures 449.0 437.6 454.3 480.0 518.2 539.3 525.3 552.7 604.7 681.5 11

 12 Fixed investment (3) 432.6 427.9 423.4 452.8 492.3 528.2 526.4 544.5 581.5 633.4 12

 13 Inventory change + IVA 15.7 7.5 31.4 27.9 26.2 11.7 0.7 10.0 24.9 49.9 13

 14 Nonproduced nonfinancial assets 0.7 2.2 -0.5 -0.8 -0.3 -0.7 -1.7 -1.7 -1.7 -1.7 14

 15 Net lending (+) or net borrowing (-) -164.4 -57.2 -44.3 -93.0 -166.0 -59.3 15.6 -15.7 114.2 31.0 15

 16 Net acquisition of financial assets 213.0 131.4 228.8 350.3 181.3 124.5 83.0 145.7 332.7 273.6 16

 17 Foreign deposits 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 17

 18 Checkable deposits and currency 23.2 1.5 9.6 14.0 9.1 6.1 6.9 -4.2 20.6 11.8 18

 19 Time and savings deposits 0.2 16.2 0.4 -3.7 -1.7 -6.0 3.0 -1.6 16.0 4.4 19

 20 Money market fund shares -1.5 0.4 0.9 -5.5 0.0 9.3 4.5 13.5 -3.7 3.2 20

 21 Security repurchase agreements -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 21

 22 Credit market instruments 16.9 -5.6 -0.8 19.0 32.2 -26.1 30.7 27.8 9.1 17.7 22

 23 Commercial paper 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 23

 24 Treasury securities 4.6 -0.8 -8.5 -3.9 23.5 -13.8 5.8 17.2 -11.8 2.0 24

 25 Agency- and GSE-backed securities -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 25

 26 Municipal securities 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 8.9 2.0 26

 27 Mortgages 5.6 -6.9 1.4 16.6 -13.7 -1.6 6.2 1.1 -7.8 4.1 27

 28 Consumer credit 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 6.9 9.4 28

 29 Mutual fund shares 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 29

 30 Trade receivables 45.2 2.1 63.9 90.6 42.1 29.2 -5.8 27.6 50.7 71.9 30

 31 U.S. direct investment abroad (4) 14.3 19.0 29.7 11.8 26.1 35.6 38.1 40.0 57.9 78.5 31

 32 Miscellaneous assets 108.9 89.1 132.4 220.0 84.0 78.0 2.0 34.9 179.1 83.2 32

 33 Insurance receivables 4.3 18.9 23.5 15.0 14.3 13.4 2.2 13.7 6.9 5.9 33

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

 35 Investment in finance co. subs. 4.7 2.1 -6.2 -3.0 0.4 5.5 2.1 2.0 -5.2 2.2 35

 36 Other 99.9 68.1 115.1 207.9 69.3 59.1 -2.3 19.2 177.3 75.1 36

 37 Net increase in liabilities 377.4 188.6 273.1 443.3 347.3 183.8 67.4 161.4 218.5 242.6 37

 38 Net funds raised in markets 99.8 142.8 90.1 94.9 41.8 68.0 -36.0 43.0 155.6 144.9 38

 39 Net new equity issues -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 39

 40 Credit market instruments 184.3 227.8 165.6 224.4 165.9 131.0 -54.3 16.0 134.3 189.8 40

 41 Commercial paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 41

 42 Municipal securities (5) 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 42

 43 Corporate bonds (4) 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 43

 44 Depository institution loans n.e.c. 41.0 65.7 4.4 36.5 21.6 -10.5 -47.4 -31.5 -7.3 46.8 44

 45 Other loans and advances (6) 18.1 38.3 36.3 46.0 48.7 61.7 -57.3 6.2 -27.0 30.9 45

 46 Mortgages 4.8 15.9 45.5 26.8 1.2 23.3 -8.8 -39.2 -31.3 -6.7 46

 47 Trade payables 42.5 -2.0 44.4 54.1 21.6 28.3 23.1 33.4 36.5 77.4 47

 48 Taxes payable -3.2 3.8 5.1 -3.5 -6.1 0.0 -9.4 6.5 5.4 -0.4 48

 49 Foreign direct investment in U.S. 17.5 31.9 52.5 69.8 62.4 59.1 -1.3 6.7 20.3 46.1 49

 50 Miscellaneous liabilities 220.7 12.1 81.0 227.9 227.7 28.4 91.1 71.9 0.6 -25.4 50

 51 Pension fund contributions payable 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 51

 52 Claims of pension fund on sponsor -11.3 31.5 45.7 29.2 22.6 55.2 24.7 73.5 7.7 -18.4 52

 53 Other 226.2 -19.4 33.8 200.0 197.8 -32.8 54.4 -11.5 -19.3 -18.7 53

 54 Discrepancy 166.5 38.3 42.2 101.6 128.1 13.2 -17.8 3.7 -130.7 -51.5 54

 Memo:

 55 Financing gap (7) 22.1 38.8 30.9 14.2 70.8 91.2 48.1 58.5 65.7 57.6 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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Historical Annuals, 1985-1994, March 12, 2015 17

F.104 Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving = consumption of fixed capital 82.0 86.8 91.7 97.3 102.9 106.9 109.3 110.1 112.9 116.9 1

 2 Gross saving less net capital transfers paid (1) 82.0 86.8 91.7 97.3 103.3 106.9 109.4 111.9 113.3 121.1 2

 3 Gross investment 82.0 86.8 91.7 97.3 103.3 106.9 109.4 111.9 113.3 121.1 3

 4 Capital expenditures 130.9 127.3 127.4 125.1 138.6 124.5 105.1 109.3 114.6 143.1 4

 5 Fixed investment (2) 124.8 128.3 131.6 134.6 137.2 121.7 106.2 103.0 118.7 129.2 5

 6 Change in inventories 6.1 -1.0 -4.3 -9.5 1.5 2.9 -1.1 6.4 -4.1 13.9 6

 7 Net lending (+) or net borrowing (-) -48.9 -40.5 -35.7 -27.8 -35.3 -17.6 4.3 2.6 -1.4 -22.0 7

 8 Net acquisition of financial assets 33.9 26.1 -5.4 50.9 8.0 1.8 8.0 26.6 27.6 62.4 8

 9 Checkable deposits and currency 14.2 2.6 0.9 4.6 1.2 2.2 2.1 5.4 3.2 12.3 9

 10 Time and savings deposits 5.5 1.7 -1.9 6.6 1.4 2.7 2.2 7.0 3.4 3.6 10

 11 Money market mutual funds 0.0 0.1 -0.1 2.2 0.5 0.9 0.7 2.3 1.1 4.2 11

 12 Credit market instruments 4.9 2.7 -7.7 10.5 -11.1 -3.5 -5.3 -0.1 -1.2 6.8 12

 13 Treasury securities 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 0.6 4.7 13

 14 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.1 14

 15 Mortgages 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 15

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

 17 Trade receivables 4.5 8.0 1.4 12.0 6.8 2.7 -1.1 7.1 4.9 16.3 17

 18 Miscellaneous assets 4.7 11.0 2.1 15.1 9.3 -3.2 9.4 5.0 16.1 19.2 18

 19 Insurance receivables 5.5 6.6 -5.1 0.4 5.6 -3.7 5.0 -0.9 2.6 2.0 19

 20 Equity investment in GSEs (3) -0.3 -0.6 -0.5 0.1 -0.7 -0.2 0.2 -0.1 0.3 0.2 20

 21 Other -0.5 4.9 7.6 14.6 4.4 0.8 4.2 6.0 13.2 17.0 21

 22 Net increase in liabilities 82.8 66.6 30.3 78.7 43.4 19.4 3.7 24.0 29.0 84.5 22

 23 Credit market instruments 70.4 67.1 58.0 84.1 48.4 0.3 -26.2 -26.5 -20.7 14.4 23

 24 Depository institution loans n.e.c. 2.1 0.6 8.7 9.3 12.8 4.0 0.1 2.7 4.4 15.3 24

 25 Other loans and advances -2.0 -0.8 1.8 -0.6 4.2 1.1 1.0 0.8 -2.9 3.7 25

 26 Mortgages 70.3 67.4 47.5 75.4 31.5 -4.7 -27.3 -30.0 -22.1 -4.6 26

 27 Trade payables -1.3 -2.1 5.1 7.0 2.5 -0.1 -1.0 6.3 1.5 7.4 27

 28 Taxes payable 3.4 1.7 0.6 2.9 4.7 0.6 0.5 0.6 -1.7 1.4 28

 29 Foreign direct investment in U.S. 0.6 1.1 0.6 0.8 1.4 0.7 -0.0 0.1 0.0 0.0 29

 30 Miscellaneous liabilities 29.1 8.5 -6.4 17.4 20.9 -3.3 3.6 13.8 5.1 16.1 30

 31 Proprietors’ net investment -19.6 -9.7 -27.5 -33.5 -34.5 21.1 26.9 29.6 44.8 45.1 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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18 Historical Annuals, 1985-1994, March 12, 2015

F.105 General Government (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 1216.0 1291.7 1405.5 1505.5 1629.8 1710.9 1761.0 1846.0 1950.1 2094.0 1

 2 Personal current taxes 417.3 437.2 489.1 504.9 566.1 592.7 586.6 610.5 646.5 690.5 2

 3 Taxes on production and imports 308.1 323.4 347.5 374.5 398.9 425.0 457.1 483.4 503.1 545.2 3

 4 Taxes on corporate income 96.5 106.5 127.1 137.2 141.5 140.6 133.6 143.1 165.4 186.7 4

 5 Taxes from the rest of the world 1.9 1.7 2.0 2.4 2.7 3.0 2.6 2.6 2.7 3.1 5

 6 Contributions for govt. social insurance 282.8 304.9 324.6 363.2 386.9 412.1 432.2 457.1 479.6 510.7 6

 7 Income receipts on assets 85.7 91.1 86.7 91.4 95.4 98.9 97.3 89.7 87.7 87.1 7

 8 Current transfer receipts 22.2 25.0 26.3 27.0 31.6 35.3 43.8 49.5 54.2 58.8 8

 9 Current surplus of government enterprises 1.3 2.0 2.2 5.0 6.7 3.2 7.8 9.9 10.8 11.8 9

 10 Current expenditures, NIPA basis 1391.4 1483.9 1556.6 1645.9 1779.0 1918.3 2032.3 2216.1 2299.1 2374.6 10

 11 Consumption expenditures 688.6 736.4 776.1 819.8 881.5 948.0 1004.1 1049.3 1074.2 1109.6 11

 12 Government social benefits 406.7 432.4 451.7 480.4 524.6 578.9 654.5 735.7 782.9 820.0 12

 13 Other current transfer payments 13.8 14.2 12.7 13.2 13.5 13.5 -25.6 20.6 21.7 19.9 13

 14 Interest payments 261.0 276.0 285.8 303.0 332.0 350.9 371.9 380.5 383.7 392.6 14

 15 Subsidies 21.4 24.9 30.3 29.5 27.4 27.0 27.5 30.1 36.7 32.5 15

 16 Net saving, NIPA basis -175.4 -192.2 -151.1 -140.4 -149.2 -207.4 -271.3 -370.2 -349.0 -280.7 16

 17 + Consumption of fixed capital 140.2 150.6 161.6 174.1 186.0 197.8 208.8 215.6 223.6 231.2 17

 18 - Insurance and pension fund reserves (2) 1.5 2.3 1.1 1.3 1.2 0.8 1.5 1.1 0.7 0.5 18

 19 - Net capital transfers (3) -8.8 -9.9 -10.4 -11.0 -12.1 -8.4 -10.3 -15.6 -16.8 -19.0 19

 20 = Gross saving less net capital transfers -27.9 -34.0 19.9 43.4 47.6 -2.0 -53.7 -140.2 -109.3 -30.9 20

 21 Gross investment -27.3 -30.1 37.8 -6.4 38.2 35.8 -67.4 -144.9 -131.1 32.9 21

 22 Fixed investment 219.9 238.1 254.6 258.4 270.4 290.4 294.1 296.1 291.9 294.2 22

 23 Nonproduced nonfinancial assets 1.9 0.7 3.7 4.2 4.1 4.9 6.0 6.0 6.0 6.3 23

 24 Net lending (+) or net borrowing (-) -249.0 -268.8 -220.6 -269.0 -236.4 -259.6 -367.5 -447.0 -429.1 -267.5 24

 25 Net acquisition of financial assets 211.3 91.9 66.8 38.8 79.6 116.1 119.8 -16.1 4.8 -29.8 25

 26 U.S. official reserve assets 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 26

 27 Checkable deposits and currency 14.1 2.9 -8.8 12.0 -13.8 3.6 33.8 -15.7 22.7 -19.9 27

 28 Time and savings deposits 7.1 2.5 7.3 -2.3 -2.9 -2.9 -10.9 -6.8 -1.6 6.3 28

 29 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 29

 30 Security repurchase agreements 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 30

 31 Credit market instruments 154.3 80.4 50.0 25.5 42.4 72.9 57.7 -10.2 7.0 -60.6 31

 32 Open market paper 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 32

 33 Treasury securities 92.7 57.1 41.9 6.6 4.8 41.5 25.0 -17.4 29.6 -77.8 33

 34 Agency- and GSE-backed securities 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 34

 35 Municipal securities 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 35

 36 Corporate and foreign bonds 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 36

 37 Mortgages 11.6 12.8 3.4 2.9 5.6 40.8 18.9 -12.0 -20.8 -11.8 37

 38 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.5 38

 39 Other loans and advances 15.9 9.2 -2.6 -8.4 -2.3 -1.9 -4.9 -0.0 -10.5 1.9 39

 40 Corporate equities 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 40

 41 Mutual fund shares 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 41

 42 Trade receivables 7.5 -1.4 11.7 4.8 6.7 0.7 -2.2 -3.6 1.2 1.7 42

 43 Taxes receivable -2.0 1.0 -5.7 -3.2 -0.8 -5.8 -5.2 -0.4 -5.8 -5.0 43

 44 Miscellaneous assets 7.4 2.2 5.2 0.6 16.7 35.8 39.7 12.1 -38.1 51.8 44

 45 Net increase in liabilities 460.3 360.7 287.4 307.8 315.9 375.7 487.3 430.9 433.9 237.7 45

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

 47 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 47

 48 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 48

 49 Credit market instruments 389.3 290.2 234.3 205.5 193.7 294.0 369.4 320.5 314.1 110.3 49

 50 U.S. savings securities 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 50

 51 Treasury bills and other Treasury securities 220.5 202.1 134.6 129.2 136.6 230.3 280.1 284.6 233.7 147.7 51

 52 Budget agency securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 52

 53 Municipal securities 155.4 72.8 92.8 53.7 47.6 46.2 90.8 16.6 58.7 -45.9 53

 54 Multifamily residential mortgages -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 54

 55 Other loans and advances 8.2 1.4 -2.4 -3.3 -0.2 0.9 0.4 -0.1 -0.7 0.4 55

 56 Trade payables 19.4 24.1 17.6 18.8 20.4 7.1 8.2 11.5 17.9 15.8 56

 57 Insurance reserves 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 57

 58 Miscellaneous liabilities 50.0 44.6 33.8 81.8 96.6 71.0 108.5 99.2 100.0 109.6 58

 59 Discrepancy -0.6 -4.0 -17.9 49.8 9.4 -37.7 13.7 4.7 21.8 -63.9 59

 Memo:

 60 Net acquisition of financial assets (consolidated) (4) 110.4 33.4 27.3 35.5 75.0 73.8 94.4 1.4 -24.1 47.5 60

 61 Net increase in liabilities (consolidated) (4) 359.4 302.2 247.9 304.5 311.3 333.3 462.0 448.4 405.0 315.1 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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Historical Annuals, 1985-1994, March 12, 2015 19

F.106 Federal Government

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 775.3 817.3 899.0 961.4 1040.8 1085.7 1105.6 1152.1 1228.8 1326.7 1

 2 Personal current taxes 336.0 350.0 392.5 402.8 451.5 470.1 461.3 475.2 505.5 542.5 2

 3 Taxes on production and imports 46.1 43.7 45.9 49.8 49.7 50.9 61.8 63.3 66.4 79.0 3

 4 Taxes on corporate income 76.3 83.8 103.2 111.1 117.2 118.1 109.9 118.8 138.5 156.7 4

 5 Taxes from the rest of the world 1.9 1.7 2.0 2.4 2.7 3.0 2.6 2.6 2.7 3.1 5

 6 Contributions for govt. social insurance 277.9 298.9 317.4 354.8 378.0 402.0 420.6 444.0 465.5 496.2 6

 7 Income receipts on assets 30.1 32.1 28.2 30.2 28.9 30.4 30.0 25.7 26.6 23.6 7

 8 Current transfer receipts 8.6 7.6 10.2 9.6 11.8 13.3 17.2 18.4 20.2 21.6 8

 9 Current surplus of government enterprises -1.6 -0.6 -0.5 0.7 1.1 -2.3 2.1 4.1 3.5 4.0 9

 10 Current expenditures, NIPA basis 970.9 1030.0 1062.1 1118.8 1197.5 1286.6 1351.8 1484.7 1540.6 1580.4 10

 11 Consumption expenditures 316.8 336.5 347.8 360.8 380.2 401.8 423.9 430.2 427.7 427.3 11

 12 Government social benefits 329.4 348.1 360.9 381.9 415.2 451.2 498.0 555.7 587.7 613.3 12

 13 Other current transfer payments 89.9 96.6 91.1 98.9 105.4 117.9 98.4 162.2 177.4 186.8 13

 14 Interest payments 213.7 224.2 232.3 247.9 269.7 289.0 304.4 306.9 311.4 320.8 14

 15 Subsidies 21.0 24.6 30.0 29.2 27.1 26.6 27.1 29.7 36.3 32.2 15

 16 Net saving, NIPA basis -195.6 -212.7 -163.2 -157.3 -156.6 -200.9 -246.2 -332.7 -311.8 -253.7 16

 17 + Consumption of fixed capital 93.3 100.3 107.5 116.3 124.2 131.1 137.9 141.4 145.3 148.3 17

 18 - Insurance and pension reserves (1) 1.5 2.3 1.1 1.3 1.2 0.8 1.5 1.1 0.7 0.5 18

 19 - Net capital transfers paid (2) 13.2 13.1 11.9 12.1 11.3 16.6 15.5 11.3 11.4 10.9 19

 20 = Gross saving less net capital transfers paid -117.0 -127.8 -68.6 -54.5 -45.0 -87.2 -125.3 -203.7 -178.6 -116.8 20

 21 Gross investment -134.7 -152.7 -70.4 -94.2 -81.0 -69.1 -139.2 -236.8 -191.2 -120.5 21

 22 Fixed investment 132.5 141.9 152.4 148.0 151.2 158.2 156.8 156.4 150.7 145.4 22

 23 Nonproduced nonfinancial assets -1.2 -3.0 -0.4 -0.2 -0.7 -0.8 0.1 0.2 0.2 0.1 23

 24 Net lending (+) or net borrowing (-) -266.0 -291.5 -222.4 -242.0 -231.5 -226.5 -296.2 -393.4 -342.0 -266.0 24

 25 Net acquisition of financial assets 31.8 6.5 -18.0 -5.0 9.6 66.7 59.9 -22.9 -13.2 -37.0 25

 26 U.S. official reserve assets 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 26

 27 Checkable deposits and currency 13.0 0.4 -8.1 9.0 -14.2 4.8 27.4 -16.9 20.7 -21.7 27

 28 Time and savings deposits 0.0 0.2 0.2 -0.2 -0.1 0.1 0.1 -0.7 -0.1 -0.1 28

 29 Credit market instruments 17.8 10.1 -7.9 -9.5 -3.0 33.6 10.5 -11.9 -25.6 -5.6 29

 30 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 30

 31 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other loans and advances 15.9 9.2 -2.6 -8.4 -2.3 -1.9 -4.9 -0.0 -10.5 1.9 32

 33 Mortgages 1.8 1.0 -5.3 -1.1 -0.7 35.6 15.4 -11.9 -15.4 -14.0 33

 34 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.5 34

 35 Corporate equities (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Trade receivables 3.7 -2.3 8.0 0.1 3.2 -1.7 -4.6 -6.7 -2.4 -3.8 36

 37 Taxes receivable -6.0 -1.7 -6.2 -6.8 -4.3 -5.2 -7.0 -0.4 -3.1 -6.3 37

 38 Miscellaneous assets 1.4 0.5 1.3 1.0 15.4 34.3 36.1 15.4 -3.8 3.2 38

 39 Net increase in liabilities 297.8 298.0 204.4 236.9 241.1 293.2 356.1 370.5 328.8 229.0 39

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

 41 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 41

 42 Treasury currency 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 42

 43 Credit market instruments 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 43

 44 U.S. savings securities 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 44

 45 Treasury bills 25.5 26.8 -37.2 24.5 16.7 96.8 63.0 67.3 57.0 19.1 45

 46 Other Treasury securities 195.0 175.3 171.8 104.8 119.9 133.5 217.1 217.3 176.7 128.6 46

 47 Budget agency securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 47

 48 Multifamily residential mortgages -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 48

 49 Trade payables 10.6 14.6 7.5 8.0 8.6 -5.8 -5.5 -2.8 3.0 -0.2 49

 50 Insurance reserves 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 50

 51 Miscellaneous liabilities 59.9 65.6 51.4 72.2 80.9 48.5 82.1 69.7 67.9 71.4 51

 52 Nonmarketable securities held by pension plans (5) 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 52

 53 Claims of pension fund on sponsor 19.4 32.9 30.5 29.8 30.2 32.2 29.5 30.0 30.1 29.9 53

 54 Other 0.6 3.2 -9.4 9.6 16.2 -17.1 14.3 -0.1 0.7 3.9 54

 55 Discrepancy 17.7 24.9 1.7 39.7 35.9 -18.1 13.9 33.1 12.6 3.7 55

 Memo:

 56 Change in cash balance (6) 14.4 -0.0 -7.9 10.4 -5.9 8.3 14.5 -16.9 19.2 -26.7 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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20 Historical Annuals, 1985-1994, March 12, 2015

F.107 State and Local Governments (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Current receipts, NIPA basis 516.9 556.8 585.0 629.9 680.8 729.6 779.5 835.6 877.1 934.1 1

 2 Personal current taxes 81.4 87.2 96.6 102.1 114.6 122.6 125.3 135.3 141.1 148.0 2

 3 Taxes on production and imports 262.1 279.7 301.6 324.6 349.1 374.1 395.3 420.1 436.8 466.3 3

 4 Taxes on corporate income 20.2 22.7 23.9 26.0 24.2 22.5 23.6 24.4 26.9 30.0 4

 5 Contributions for govt. social insurance 4.9 6.0 7.2 8.4 9.0 10.0 11.6 13.1 14.1 14.5 5

 6 Income receipts on assets 55.6 59.0 58.5 61.2 66.6 68.5 67.2 64.0 61.1 63.5 6

 7 Current transfer receipts 89.8 99.8 94.4 103.1 111.6 126.4 150.7 172.8 189.8 204.1 7

 8 Current surplus of government enterprises 2.9 2.6 2.7 4.4 5.6 5.6 5.7 5.8 7.3 7.8 8

 9 Current expenditures, NIPA basis 496.7 536.4 572.9 612.9 673.4 736.0 804.6 873.1 914.3 961.0 9

 10 Consumption expenditures 371.8 399.9 428.3 458.9 501.3 546.2 580.1 619.0 646.5 682.2 10

 11 Govt. social benefit payments to persons 77.3 84.3 90.7 98.5 109.3 127.7 156.5 180.0 195.2 206.7 11

 12 Interest payments 47.3 51.8 53.5 55.1 62.3 61.8 67.6 73.6 72.2 71.8 12

 13 Subsidies 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.3 13

 14 Net saving, NIPA basis 20.3 20.4 12.1 17.0 7.4 -6.5 -25.1 -37.5 -37.2 -27.0 14

 15 + Consumption of fixed capital 46.9 50.3 54.1 57.8 61.9 66.7 70.9 74.1 78.3 82.9 15

 16 - Net capital transfers paid (2) -22.0 -23.0 -22.3 -23.1 -23.4 -25.0 -25.8 -26.9 -28.2 -29.9 16

 17 = Gross saving less net capital transfers paid 89.1 93.7 88.5 97.9 92.7 85.2 71.6 63.5 69.3 85.9 17

 18 Gross investment 107.4 122.6 108.1 87.7 119.2 104.9 71.8 92.0 60.0 153.5 18

 19 Fixed investment 87.3 96.2 102.2 110.4 119.2 132.2 137.3 139.7 141.2 148.8 19

 20 Nonproduced nonfinancial assets 3.1 3.7 4.2 4.3 4.9 5.7 5.8 5.8 5.9 6.2 20

 21 Net lending (+) or net borrowing (-) 17.0 22.7 1.8 -27.0 -4.9 -33.0 -71.4 -53.6 -87.0 -1.6 21

 22 Net acquisition of financial assets 179.5 85.4 84.8 43.9 70.0 49.4 59.9 6.7 18.0 7.2 22

 23 Checkable deposits and currency 1.1 2.5 -0.8 3.0 0.4 -1.3 6.4 1.2 1.9 1.8 23

 24 Time and savings deposits 7.0 2.3 7.1 -2.0 -2.8 -3.0 -11.1 -6.1 -1.5 6.4 24

 25 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 25

 26 Security repurchase agreements 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 26

 27 Credit market instruments 136.6 70.2 57.8 34.9 45.5 39.3 47.2 1.7 32.6 -55.0 27

 28 Open market paper 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 28

 29 Treasury securities 92.7 57.1 41.9 6.6 4.8 41.5 25.0 -17.4 29.6 -77.8 29

 30 Agency- and GSE-backed securities 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 30

 31 Municipal securities 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 31

 32 Corporate and foreign bonds 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 32

 33 Mortgages 9.8 11.8 8.7 4.0 6.3 5.3 3.5 -0.0 -5.4 2.2 33

 34 Corporate equities 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 34

 35 Mutual fund shares 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 35

 36 Trade receivables 3.8 0.9 3.8 4.8 3.5 2.4 2.4 3.1 3.6 5.4 36

 37 Taxes receivable 4.0 2.7 0.5 3.6 3.5 -0.5 1.8 -0.1 -2.7 1.3 37

 38 Miscellaneous assets 6.0 1.7 3.9 -0.5 1.4 1.5 3.6 -3.3 -34.3 48.6 38

 39 Net increase in liabilities 162.5 62.7 83.0 70.9 74.9 82.4 131.2 60.3 105.1 8.7 39

 40 Credit market instruments 163.6 74.2 90.4 50.4 47.4 47.1 91.2 16.5 57.9 -45.5 40

 41 Municipal securities 155.4 72.8 92.8 53.7 47.6 46.2 90.8 16.6 58.7 -45.9 41

 42 Short-term (3) 2.2 -0.1 -0.8 2.0 3.3 2.9 6.9 -1.1 1.8 -2.2 42

 43 Long-term 153.2 72.9 93.6 51.7 44.3 43.2 83.9 17.7 56.9 -43.8 43

 44 U.S. government loans 8.2 1.4 -2.4 -3.3 -0.2 0.9 0.4 -0.1 -0.7 0.4 44

 45 Trade payables 8.7 9.5 10.1 10.8 11.8 12.9 13.7 14.3 15.0 16.0 45

 46 Claims of pension fund on sponsor (4) -9.9 -21.0 -17.6 9.7 15.7 22.5 26.4 29.5 32.1 38.3 46

 47 Discrepancy -18.3 -28.9 -19.6 10.1 -26.5 -19.6 -0.2 -28.4 9.3 -67.6 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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Historical Annuals, 1985-1994, March 12, 2015 21

F.108 Financial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid 35.6 42.1 45.0 56.9 58.0 67.8 91.6 85.2 78.8 76.4 1

 2 Gross investment 58.4 84.9 93.6 84.0 146.4 104.5 121.9 73.8 158.5 84.6 2

 3 Capital expenditures 65.2 71.4 74.5 82.0 91.4 89.1 81.5 83.9 94.7 104.1 3

 4 Fixed residential investment 0.1 0.2 0.2 0.1 0.1 0.2 0.2 2.6 5.2 7.3 4

 5 Fixed nonresidential investment 65.1 71.1 74.3 81.9 91.3 88.9 81.3 81.3 89.6 96.9 5

 6 Net lending (+) or net borrowing (-) -6.7 13.5 19.2 2.0 54.9 15.4 40.4 -10.1 63.8 -19.5 6

 7 Net acqisition of financial assets 1106.7 1317.5 980.4 1046.2 983.3 753.7 905.2 1097.4 1458.7 1247.3 7

 8 U.S. official reserve assets 2.0 0.4 -3.8 2.5 12.6 1.3 -3.2 -2.2 0.4 -2.6 8

 9 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 9

 10 Treasury currency 0.6 0.5 0.6 0.6 0.8 0.8 0.6 0.4 0.6 0.9 10

 11 Foreign deposits -2.2 3.1 -0.6 7.9 -3.2 0.6 -5.3 -1.2 -10.3 5.7 11

 12 Net interbank assets 7.7 18.4 -5.3 -0.9 -1.8 5.1 -9.7 3.9 0.7 -0.2 12

 13 Checkable deposits and currency 7.5 5.8 0.2 6.0 -1.2 14.0 -12.2 0.4 6.1 0.3 13

 14 Time and savings deposits 3.9 10.8 -2.3 12.9 40.1 -40.4 20.4 -20.2 -3.8 3.2 14

 15 Money market fund shares 8.4 5.8 1.5 7.5 10.7 19.3 17.4 30.1 22.2 18.6 15

 16 Federal funds and security repos 79.8 82.8 11.8 62.1 67.5 10.2 46.5 115.6 81.2 36.8 16

 17 Credit market instruments 767.0 959.4 730.9 684.9 656.8 517.6 459.0 609.9 801.9 659.4 17

 18 Open market paper 61.4 27.2 27.1 35.3 69.2 24.9 -15.3 9.9 -29.5 21.2 18

 19 Treasury securities 97.0 121.5 40.9 -6.1 43.2 86.9 202.8 164.3 107.2 -8.3 19

 20 Agency- and GSE-backed securities 73.6 174.3 151.9 85.7 80.8 151.6 101.9 120.9 183.9 147.9 20

 21 Municipal securities 100.6 44.2 -8.3 0.9 5.6 20.8 18.4 51.6 86.5 9.1 21

 22 Corporate and foreign bonds 57.8 149.7 112.4 158.3 99.1 69.2 116.9 149.9 236.7 83.2 22

 23 Depository institution loans n.e.c. 44.6 77.9 7.9 34.9 19.8 -20.7 -43.4 -28.8 -8.7 49.6 23

 24 Other loans and advances 18.3 28.8 64.9 45.4 18.2 -8.1 -43.3 7.1 15.1 59.1 24

 25 Mortgages 233.9 284.5 308.8 290.8 277.1 181.2 125.6 128.7 156.5 178.5 25

 26 Consumer credit 79.9 51.3 25.3 39.8 43.9 11.8 -4.7 6.4 54.1 119.1 26

 27 Corporate equities 55.3 35.3 65.4 18.8 -2.9 16.9 121.3 88.9 243.2 168.3 27

 28 Mutual fund shares 3.1 10.1 3.8 2.7 0.2 19.7 20.2 36.5 42.8 75.6 28

 29 Trade receivables 3.1 5.8 5.4 8.5 4.7 10.7 5.9 4.2 4.2 9.1 29

 30 Security credit 26.6 1.5 -21.5 1.7 1.0 -8.9 22.5 1.7 29.7 -6.2 30

 31 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 U.S. direct investment abroad 0.5 0.1 1.5 4.3 12.8 -2.9 1.0 4.5 26.0 1.7 32

 33 Miscellaneous assets 143.3 177.5 192.7 226.6 181.9 188.3 220.7 226.9 213.5 276.7 33

 34 Net increase in liabilities 1113.4 1304.0 961.2 1044.3 928.4 738.3 864.8 1107.6 1394.9 1266.8 34

 35 Net interbank liabilities 19.0 3.2 32.4 5.5 -42.1 8.8 5.7 15.3 20.4 91.7 35

 36 Checkable deposits and currency 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 36

 37 Time and savings deposits 157.4 151.4 151.3 184.2 128.7 2.7 -67.6 -128.1 -85.6 4.6 37

 38 Money market fund shares 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 38

 39 Federal funds and security repos 69.2 102.9 3.2 56.5 93.4 -30.4 20.3 137.8 128.1 39.6 39

 40 Credit market instruments 203.2 330.1 291.8 249.8 224.8 207.8 153.1 236.5 292.9 464.4 40

 41 Open market paper 32.0 24.2 26.9 54.8 31.3 8.6 -32.3 -1.1 -5.5 40.5 41

 42 Agency- and GSE-backed securities 99.5 179.5 168.0 120.8 149.5 167.5 145.8 156.3 165.3 292.2 42

 43 Corporate and foreign bonds 56.5 92.3 78.6 52.2 40.8 54.5 72.0 83.0 120.2 115.5 43

 44 Depository institution loans n.e.c. -1.1 13.7 -7.1 2.3 13.2 0.6 4.4 -1.6 -13.0 -11.3 44

 45 Other loans and advances 16.2 20.2 25.0 19.4 -10.5 -24.0 -37.3 -0.6 22.4 17.8 45

 46 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 46

 47 Corporate equities 10.5 14.7 14.9 22.9 3.6 6.7 22.3 40.2 51.1 9.9 47

 48 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 48

 49 Trade payables 2.5 -0.4 -0.8 1.7 -0.5 -1.9 0.7 0.6 2.7 -0.9 49

 50 Security credit 29.6 4.0 -24.0 4.0 12.1 4.5 36.9 -6.7 33.9 -1.7 50

 51 Life insurance reserves 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 51

 52 Pension entitlements 231.0 230.1 225.1 284.5 267.3 300.3 301.8 333.8 359.3 338.9 52

 53 Taxes payable 1.1 1.5 -2.0 1.4 -0.6 1.5 1.0 0.2 2.1 -0.8 53

 54 Equity in noncorporate business 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 54

 55 Foreign direct investment in U.S. 1.6 2.4 5.3 -12.9 4.5 -11.3 24.5 13.0 31.0 0.0 55

 56 Miscellaneous liabilities 197.3 118.7 151.8 159.8 86.5 60.1 76.8 129.9 92.8 158.6 56

 57 Discrepancy -22.8 -42.7 -48.6 -27.1 -88.3 -36.8 -30.3 11.4 -79.7 -8.2 57

(1) Sum of financial sectors shown on tables F.109 through F.131.
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22 Historical Annuals, 1985-1994, March 12, 2015

F.109 Monetary Authority (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving -1.4 -2.3 -2.0 0.3 -1.4 -2.2 -0.5 1.1 0.3 -2.2 1

 2 Fixed nonresidential investment 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.7 0.9 2

 3 Net acquisition of financial assets 24.9 31.9 10.8 19.0 9.8 27.6 22.3 17.1 42.1 28.2 3

 4 U.S. official reserve assets 2.0 0.4 -3.8 2.5 12.6 1.3 -3.2 -2.2 0.4 -2.6 4

 5 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 5

 6 Treasury currency 0.6 0.5 0.6 0.6 0.8 0.8 0.6 0.4 0.6 0.9 6

 7 Federal Reserve float (2) 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 7

 8 Interbank loans (2) -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 8

 9 Discount window (3) -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 9

 10 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Security repurchase agreements 3.2 10.8 -11.0 1.9 -4.7 16.2 -2.5 -7.8 5.1 -2.6 11

 12 Credit market instruments 18.4 19.4 21.0 14.8 -7.9 8.1 31.1 27.9 36.2 31.5 12

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

 14 Treasury securities 18.6 19.8 21.3 14.8 -6.9 8.3 31.4 28.5 37.0 32.5 14

 15 Treasury bills 14.4 18.4 3.9 5.1 -8.2 7.9 20.1 9.2 18.6 17.0 15

 16 Other Treasury securities 4.2 1.5 17.4 9.7 1.3 0.4 11.3 19.4 18.4 15.5 16

 17 Agency- and GSE-backed securities -0.2 -0.4 -0.3 0.0 -1.0 -0.2 -0.3 -0.6 -0.8 -1.0 17

 18 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Other agency- and GSE-baked securities -0.2 -0.4 -0.3 0.0 -1.0 -0.2 -0.3 -0.6 -0.8 -1.0 19

 20 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Brokers and dealers (6) 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) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (Maiden Lane II) (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Funding corporations (Maiden Lane III) (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Funding corporations (CPFF) (10) 0.0 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 28

 29 Corporate equities (11) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Miscellaneous assets 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 30

 31 Nonofficial foreign currencies (12) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 32

 33 Net increase in liabilities 24.8 31.8 10.6 19.0 9.7 27.4 22.1 16.7 41.7 28.0 33

 34 Depository institution reserves 6.8 19.5 -6.3 -2.4 -1.0 0.3 -9.2 2.7 2.9 -4.2 34

 35 Vault cash of depository institutions 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 35

 36 Checkable deposits and currency 16.6 13.3 16.7 17.6 10.2 24.2 30.7 16.2 37.2 25.8 36

 37 Due to federal government 4.1 -1.9 -2.3 3.3 -2.4 2.8 8.8 -10.3 7.2 -7.7 37

 38 Treasury cash holdings 0.0 -0.1 0.0 -0.1 0.1 0.1 0.1 -0.1 -0.1 -0.0 38

 39 Treasury general deposit account 4.0 -1.8 -2.3 3.3 -2.4 2.7 8.7 -10.2 7.3 -7.6 39

 40 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Due to government-sponsored enterprises 0.0 0.9 0.1 -0.5 0.7 -1.1 1.5 -1.4 0.0 0.5 41

 42 Due to rest of the world 0.1 -0.1 -0.1 0.1 0.2 -0.2 0.6 -0.7 0.2 -0.1 42

 43 Currency outside banks 12.4 14.4 19.0 14.8 11.7 22.6 19.8 28.7 29.8 33.1 43

 44 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Reverse repurchase agreement operations (13) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Miscellaneous liabilities 0.1 -1.1 1.0 1.1 -0.6 -1.0 -0.3 -0.4 0.9 0.9 47

 48 Federal Reserve Bank stock 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 48

 49 Other -0.1 -1.2 0.8 1.0 -0.8 -1.2 -0.6 -0.8 0.6 0.6 49

 50 Discrepancy -1.8 -2.6 -2.4 -0.0 -1.8 -2.6 -1.0 0.4 -0.7 -3.4 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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Historical Annuals, 1985-1994, March 12, 2015 23

F.110 Private Depository Institutions (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid (2) 17.3 21.9 25.4 19.9 23.6 24.5 39.1 53.9 16.5 25.3 1

 2 Fixed nonresidential investment 20.0 21.1 22.0 25.2 26.7 24.7 21.7 26.0 20.3 20.3 2

 3 Net lending (+) or net borrowing (-) -14.9 5.6 3.0 -39.2 13.3 3.3 5.5 3.4 49.9 -12.1 3

 4 Net acquisition of financial assets 331.1 355.2 261.2 300.7 103.3 -17.0 -67.0 51.9 152.1 251.5 4

 5 Vault cash 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 5

 6 Reserves at Federal Reserve 6.8 19.5 -6.3 -2.4 -1.0 0.3 -9.2 2.7 2.9 -4.2 6

 7 Federal funds and security repos 23.0 11.9 -10.9 1.4 24.4 -0.4 2.7 21.1 -4.2 -1.1 7

 8 Credit market instruments 270.1 307.7 274.1 264.6 64.7 -38.5 -65.4 20.7 138.8 183.3 8

 9 Open market paper -3.0 1.2 1.3 0.1 -0.7 4.0 -1.2 -1.8 -2.9 -1.8 9

 10 Treasury securities 4.8 13.8 9.3 -16.1 -30.5 2.5 64.7 71.7 25.5 -32.7 10

 11 Agency- and GSE-backed securities -0.7 86.1 72.8 49.0 5.7 39.7 15.0 50.0 55.7 21.0 11

 12 Municipal securities 57.8 -28.7 -29.1 -22.5 -18.0 -16.0 -14.8 -6.1 1.7 -1.7 12

 13 Corporate and foreign bonds 9.2 30.8 32.6 27.0 -10.9 -8.8 5.3 5.2 11.0 1.7 13

 14 Depository institution loans n.e.c. 44.6 77.9 7.9 34.9 19.8 -20.7 -43.4 -28.8 -8.7 49.6 14

 15 Other loans and advances -9.5 -5.6 5.4 -2.3 -2.1 -9.8 -10.2 -3.6 -6.4 -2.4 15

 16 Mortgages 108.9 100.8 153.5 159.1 79.8 -15.1 -60.1 -55.2 19.7 67.9 16

 17 Consumer credit 57.9 31.3 20.3 35.5 21.6 -14.3 -20.6 -10.7 43.2 81.6 17

 18 Corporate equities 0.0 2.1 1.3 2.0 0.3 -5.1 0.6 -0.1 2.5 -3.1 18

 19 Mutual fund shares 0.0 0.0 -0.0 -0.4 -0.3 -0.1 3.0 1.1 0.7 -3.5 19

 20 Security credit 7.8 -5.2 -5.1 -0.0 1.9 -5.1 6.3 3.2 7.1 -5.2 20

 21 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S. direct investment abroad 0.3 -1.7 -1.2 -0.1 0.2 0.2 -1.0 2.0 2.0 2.6 22

 23 Miscellaneous assets 22.0 20.8 10.2 32.9 12.0 27.8 -4.8 2.8 1.4 77.1 23

 24 Net increase in liabilities 346.0 349.6 258.2 339.9 90.0 -20.3 -72.5 48.5 102.1 263.6 24

 25 Net interbank liabilities 10.9 -16.4 39.6 5.2 -42.2 4.6 13.9 14.4 16.7 90.4 25

 26 Checkable deposits 67.2 112.1 -12.8 24.6 -3.2 18.4 57.1 95.9 80.2 -37.6 26

 27 Small time and savings deposits 140.3 130.0 77.1 122.5 99.0 64.0 1.6 -57.2 -70.3 -37.4 27

 28 Large time deposits 17.1 21.4 74.2 61.7 29.7 -61.3 -69.2 -70.9 -15.3 42.1 28

 29 Federal funds and security repos 42.6 46.8 14.4 24.8 -2.4 -30.5 -24.9 10.4 18.1 58.2 29

 30 Credit market instruments 14.9 21.9 36.4 18.3 -15.3 -30.6 -54.7 0.8 16.5 22.0 30

 31 Open market paper -9.4 -5.9 5.6 -2.7 -4.2 -5.3 -14.3 -3.9 -7.7 -2.9 31

 32 Corporate bonds 9.1 7.1 5.0 1.6 -0.6 -1.4 -3.2 5.2 2.1 2.6 32

 33 Other loans and advances 15.2 20.6 25.8 19.4 -10.5 -23.9 -37.3 -0.6 22.1 22.3 33

 34 Corporate equity issues 1.4 1.4 1.5 2.5 1.5 2.1 0.9 4.3 1.9 1.8 34

 35 Taxes payable (net) 0.2 0.3 -2.4 0.2 -1.3 -0.1 -1.4 -0.2 -2.9 -2.0 35

 36 Foreign direct investment in U.S. 1.4 1.6 1.7 2.7 2.3 0.9 2.6 2.7 2.2 3.4 36

 37 Miscellaneous liabilities 50.0 30.6 28.5 77.3 22.0 12.1 1.6 48.4 55.0 122.5 37

 38 Investment by holding companies 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 38

 39 Investment by funding corporations 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 39

 40 Other 32.6 8.5 -2.0 41.5 9.0 -3.4 -12.4 7.7 31.5 107.5 40

 41 Discrepancy 12.2 -4.8 0.5 33.9 -16.4 -3.5 11.9 24.5 -53.8 17.1 41

 Memo:

 42 Consumer leases not included above (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

(1) U.S.-chartered depository institutions (F.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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24 Historical Annuals, 1985-1994, March 12, 2015

F.111 U.S.-Chartered Depository Institutions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid (1) 15.3 20.5 23.6 17.8 21.0 22.0 35.6 47.6 9.4 18.2 1

 2 Fixed nonresidential investment 18.2 19.3 20.0 22.8 24.0 22.8 19.9 23.4 18.1 17.7 2

 3 Net acquisition of financial assets 292.8 284.5 205.3 252.2 73.3 -60.8 -146.8 1.6 130.4 206.1 3

 4 Vault cash 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 4

 5 Reserves at Federal Reserve 6.1 18.9 -5.9 -1.3 -1.0 0.2 -9.0 3.0 2.5 -4.1 5

 6 Federal funds and security repos 19.0 4.1 -10.3 -1.8 23.2 -1.8 -4.2 10.6 -11.5 -7.3 6

 7 Credit market instruments 237.6 249.8 215.9 223.8 41.6 -75.4 -124.1 -10.4 126.5 150.9 7

 8 Open market paper -3.4 0.8 0.4 0.2 -1.3 0.8 -0.4 -2.3 -1.3 -1.5 8

 9 Treasury securities 2.3 9.4 6.5 -19.6 -28.3 0.8 49.4 55.6 14.9 -28.1 9

 10 Agency- and GSE-backed securities -2.3 82.8 71.5 49.2 5.9 29.6 5.7 36.9 40.4 14.4 10

 11 Residential mortgage pass-through securities -2.9 68.7 66.8 19.7 -9.6 0.9 -22.2 -1.1 20.5 19.3 11

 12 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 23.3 34.6 33.3 11.1 -14.4 13

 14 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other 0.6 14.1 4.7 29.5 15.5 5.4 -6.7 4.7 8.8 9.5 15

 16 Municipal securities 57.9 -28.7 -29.1 -22.5 -17.9 -16.0 -14.7 -6.0 2.0 -2.1 16

 17 Corporate and foreign bonds 5.4 25.6 29.3 28.5 -12.0 -11.8 1.4 4.1 9.2 -3.0 17

 18 Private residential mortgage pass-through securities -0.0 3.3 0.1 4.9 4.5 1.4 0.3 -0.4 4.7 -2.2 18

 19 Private commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Private residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -6.6 -1.8 1.7 20

 21 Private commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other 5.4 22.3 29.2 23.6 -16.5 -13.2 0.6 11.1 6.3 -2.5 22

 23 Depository institution loans n.e.c. 32.0 49.4 -15.5 20.8 18.1 -23.3 -67.8 -30.3 7.4 41.8 23

 24 Other loans and advances -11.1 -7.3 -1.0 -3.1 -5.2 -4.1 -4.6 -0.1 -2.4 -0.2 24

 25 Mortgages 105.1 89.6 137.5 142.2 64.1 -37.1 -73.7 -56.3 23.1 65.9 25

 26 Consumer credit 51.8 28.3 16.3 28.1 18.3 -14.2 -19.3 -12.1 33.3 63.7 26

 27 Corporate equities -0.1 2.1 1.4 2.0 0.3 -5.1 0.5 -0.0 2.5 -3.1 27

 28 Mutual fund shares 0.0 0.0 0.0 0.0 -0.1 -0.3 1.8 -0.4 0.5 -1.9 28

 29 Security credit 4.6 -5.5 -2.3 0.0 2.0 -5.4 2.0 2.0 6.1 -3.9 29

 30 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 U.S. direct investment abroad 0.3 -1.7 -1.2 -0.1 0.2 0.2 -1.0 2.0 2.0 2.6 31

 32 Miscellaneous assets 24.0 16.6 8.5 26.8 5.9 23.0 -13.9 -3.5 0.9 67.5 32

 33 Net increase in liabilities 308.1 280.2 196.5 270.6 64.8 -48.8 -121.6 6.2 105.2 194.8 33

 34 Net interbank liabilities 15.6 -16.4 32.6 -3.5 -21.9 11.5 32.4 3.4 18.9 72.4 34

 35 Federal Reserve float 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 35

 36 Borrowing from Federal Reserve banks -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 36

 37 To domestic banking 6.2 -9.7 -1.9 -6.7 -12.6 3.3 33.9 2.9 6.0 3.0 37

 38 To foreign banks 9.8 -5.4 32.7 4.3 -7.4 7.4 0.0 -2.5 15.8 70.9 38

 39 Checkable deposits 61.6 110.3 -13.8 22.6 -4.7 17.3 54.9 91.4 78.1 -40.1 39

 40 Federal government 10.3 1.7 -5.8 7.3 -3.4 5.3 5.5 -5.9 12.1 -18.9 40

 41 Private domestic 51.4 106.0 -6.5 15.8 -1.4 12.3 51.6 95.6 66.3 -22.8 41

 42 Rest of the world 0.0 2.7 -1.4 -0.6 0.1 -0.4 -2.2 1.7 -0.3 1.6 42

 43 Small time and savings deposits 119.4 101.1 65.2 110.4 90.5 48.4 -14.8 -73.3 -79.0 -42.6 43

 44 Large time deposits 16.6 -5.4 46.9 45.1 7.3 -63.5 -110.1 -87.7 -22.9 21.0 44

 45 Federal funds and security repos 32.2 42.1 17.7 16.0 -5.4 -45.0 -37.0 20.9 28.4 55.2 45

 46 Credit market instruments 13.4 19.1 29.8 17.8 -16.3 -29.7 -45.1 4.5 21.5 24.4 46

 47 Open market paper -10.9 -8.7 -1.0 -3.3 -5.3 -4.4 -4.7 -0.1 -2.5 -0.3 47

 48 Corporate bonds 9.1 7.1 5.0 1.6 -0.6 -1.4 -3.2 5.2 2.1 2.6 48

 49 Other loans and advances 15.2 20.6 25.8 19.4 -10.5 -23.9 -37.3 -0.6 21.9 22.1 49

 50 Corporate equity issues 1.4 1.4 1.5 2.5 1.5 2.1 0.9 4.3 1.9 1.8 50

 51 Taxes payable (net) 0.2 0.3 -2.4 0.2 -1.3 -0.1 -1.4 -0.2 -2.9 -2.0 51

 52 Miscellaneous liabilities 47.6 27.7 19.0 59.6 15.1 10.1 -1.4 42.9 61.1 104.7 52

 53 Investment by holding companies 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 53

 54 Other 32.5 9.7 -4.2 36.6 4.7 -7.3 -16.0 6.1 31.1 89.2 54

 55 Discrepancy 12.4 -3.1 -5.2 13.4 -11.5 11.1 40.9 28.8 -33.8 -10.8 55

 Memo:

 56 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

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

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

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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Historical Annuals, 1985-1994, March 12, 2015 25

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.6 0.6 0.7 0.8 1.0 0.8 0.9 1.1 1.5 1.7 1

 2 Fixed nonresidential investment 1.1 1.2 1.2 1.5 1.6 1.1 1.1 1.6 1.4 1.6 2

 3 Net acquisition of financial assets 18.0 50.9 41.4 29.1 16.4 24.3 65.1 24.0 1.3 21.3 3

 4 Vault cash -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserves at Federal Reserve 0.7 0.6 -0.4 -1.1 -0.0 0.2 -0.3 -0.3 0.3 -0.0 5

 6 Federal funds and security repos 0.2 5.2 1.0 3.0 -1.9 -0.7 8.3 10.1 12.4 8.4 6

 7 Credit market instruments 16.4 41.4 40.6 22.5 14.3 21.8 47.8 9.7 -11.7 1.0 7

 8 Open market paper 0.3 -0.2 1.2 -0.5 0.4 2.0 -1.0 0.2 -0.9 -0.2 8

 9 Treasury securities -0.0 2.1 -0.4 0.1 -0.2 5.0 9.4 8.7 6.5 -3.5 9

 10 Agency- and GSE-backed securities 0.5 1.5 1.2 1.1 0.3 1.9 4.0 2.9 7.4 1.5 10

 11 Municipal securities -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds 3.5 5.0 3.3 -0.7 1.1 3.0 3.8 0.8 1.6 4.8 12

 13 Depository institution loans n.e.c. 10.5 28.3 23.6 13.6 1.6 0.2 28.5 3.3 -15.8 5.3 13

 14 Other loans and advances 1.6 1.7 6.5 0.7 3.1 -5.7 -5.6 -3.6 -4.0 -2.1 14

 15 Mortgages 0.1 2.9 5.2 8.1 8.1 15.3 8.8 -2.7 -6.5 -4.8 15

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

 17 Security credit 3.1 0.3 -2.8 -0.1 -0.1 0.3 4.3 1.2 1.0 -1.3 17

 18 Miscellaneous assets -2.5 3.4 3.1 4.7 4.1 2.7 5.0 3.2 -0.7 13.2 18

 19 Net increase in liabilities 18.5 51.1 49.1 51.8 13.0 10.6 36.7 19.6 -19.1 46.9 19

 20 Net interbank liabilities 1.5 7.7 6.5 4.9 -22.8 -6.6 -13.7 12.0 -3.9 9.6 20

 21 To foreign banks 3.2 5.7 2.9 3.7 -26.0 -3.3 2.0 20.3 -2.3 13.7 21

 22 To domestic banks -1.7 2.0 3.6 1.2 3.2 -3.3 -15.6 -8.3 -1.5 -4.1 22

 23 Checkable deposits 2.1 0.9 -0.6 1.0 -0.3 0.4 0.2 -0.6 0.0 0.4 23

 24 Small time and savings deposits 1.1 2.2 0.6 0.5 3.7 -1.0 -0.1 0.2 -0.8 -1.1 24

 25 Large time deposits -0.2 25.6 27.2 15.9 18.8 2.2 41.0 14.8 6.7 19.9 25

 26 Federal funds and security repos 10.4 4.7 -3.3 8.8 3.0 14.5 12.1 -10.6 -10.3 3.1 26

 27 Acceptance liabilities 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 27

 28 Foreign direct investment in U.S. 1.4 1.6 1.7 2.7 2.3 0.9 2.6 2.7 2.2 3.4 28

 29 Miscellaneous liabilities 0.7 5.6 10.5 17.3 7.2 1.0 4.1 4.8 -7.8 14.2 29

 30 Investment by funding corporations 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 30

 31 Other -1.5 1.4 3.2 4.5 4.6 2.9 4.6 1.0 -1.2 14.7 31

 32 Discrepancy -0.1 -0.4 7.2 22.1 -4.0 -14.0 -28.6 -4.8 -20.2 25.7 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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26 Historical Annuals, 1985-1994, March 12, 2015

F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 1

 2 Fixed nonresidential investment 0.0 0.0 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets 1.9 -1.1 -0.5 2.1 2.5 4.6 -2.4 3.1 2.0 3.2 3

 4 Credit market instruments 2.7 0.9 0.1 0.8 1.6 4.5 -1.9 3.7 2.4 3.3 4

 5 Treasury securities 0.1 0.5 0.0 0.2 0.4 0.3 0.3 1.5 1.5 -0.6 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.4 0.4 0.1 0.1 1.1 0.2 0.5 6

 7 Municipal securities 0.0 0.0 0.0 0.1 -0.0 0.0 -0.1 -0.0 -0.2 0.4 7

 8 Corporate and foreign bonds 0.4 0.1 0.0 -0.9 0.0 -0.0 0.1 0.2 0.2 -0.1 8

 9 Depository institution loans n.e.c. 2.1 0.2 -0.1 0.4 0.1 3.3 -3.0 0.2 -0.5 1.7 9

 10 Home mortgages 0.1 0.1 0.1 0.2 0.2 0.2 -0.0 1.0 1.2 0.6 10

 11 Commercial mortgages 0.1 0.1 0.1 0.4 0.5 0.7 0.7 -0.2 0.1 0.9 11

 12 Miscellaneous assets -0.8 -2.1 -0.6 1.4 0.9 0.1 -0.5 -0.7 -0.4 -0.1 12

 13 Net increase in liabilities 2.3 -1.3 -1.3 1.5 2.2 4.4 -3.1 2.5 1.3 3.5 13

 14 Net interbank liabilities -0.4 0.1 0.8 0.6 0.4 0.1 0.8 0.5 0.3 -0.4 14

 15 Checkable deposits 0.3 0.4 -0.0 0.3 0.5 -0.7 -0.2 0.6 0.3 0.1 15

 16 Small time and savings deposits 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 16

 17 Large time deposits 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 17

 18 Miscellaneous liabilities 1.7 -2.8 -1.9 0.1 0.3 0.8 -1.6 0.6 1.1 2.3 18

 19 Discrepancy 0.3 -0.2 -0.8 -0.7 -0.3 -0.3 -0.6 -0.6 -0.7 0.3 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

 1 Gross saving 1.4 0.8 1.0 1.2 1.6 1.6 2.5 5.1 5.5 5.3 1

 2 Fixed nonresidential investment 0.6 0.6 0.7 0.9 1.0 0.7 0.6 0.9 0.8 0.9 2

 3 Net acquisition of financial assets 18.4 20.9 14.9 17.3 11.2 14.9 17.1 23.2 18.4 20.8 3

 4 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal funds and security repos 3.7 2.5 -1.6 0.1 3.1 2.1 -1.4 0.4 -5.1 -2.3 5

 6 Credit market instruments 13.4 15.5 17.5 17.5 7.1 10.6 12.8 17.7 21.7 28.1 6

 7 Open market paper 0.1 0.6 -0.3 0.4 0.3 1.2 0.3 0.4 -0.7 -0.1 7

 8 Treasury securities 2.4 1.8 3.2 3.3 -2.3 -3.6 5.5 5.9 2.6 -0.5 8

 9 Agency- and GSE-backed securities 1.1 1.8 0.0 -1.7 -0.9 8.2 5.2 9.1 7.7 4.5 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 -0.9 -1.1 -1.9 0.2 0.9 12

 13 Home mortgages 3.6 8.2 10.5 8.2 6.8 5.8 4.2 2.9 1.9 5.2 13

 14 Consumer credit 6.1 3.1 4.0 7.3 3.3 -0.1 -1.3 1.4 9.9 18.0 14

 15 Mutual fund shares 0.0 0.0 -0.0 -0.4 -0.1 0.2 1.2 1.5 0.1 -1.6 15

 16 Miscellaneous assets 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 16

 17 Net increase in liabilities 17.1 19.6 13.8 16.1 10.1 13.6 15.5 20.2 14.7 18.4 17

 18 Net interbank liabilities -5.7 -7.8 -0.4 3.3 2.1 -0.4 -5.6 -1.5 1.4 8.9 18

 19 Shares/deposits 22.9 27.2 13.3 12.4 8.6 13.8 20.5 21.6 12.6 7.9 19

 20 Checkable 3.1 0.4 1.7 0.8 1.3 1.5 2.2 4.5 1.7 2.0 20

 21 Small time and savings 19.4 26.1 11.4 11.3 4.2 14.4 17.5 15.5 9.8 5.5 21

 22 Large time 0.3 0.7 0.3 0.4 3.1 -2.1 0.8 1.6 1.1 0.4 22

 23 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 24

 25 Miscellaneous liabilities -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 25

 26 Discrepancy -0.4 -1.1 -0.8 -0.9 -0.5 -0.3 0.2 1.2 1.0 2.0 26
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Historical Annuals, 1985-1994, March 12, 2015 27

F.115 Property-Casualty Insurance Companies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving less net capital transfers paid (1) -4.0 1.7 5.7 6.3 3.0 2.4 2.2 -18.9 2.9 -10.3 1

 2 Fixed nonresidential investment 4.8 5.0 5.2 5.6 6.9 7.7 7.4 8.9 8.0 10.1 2

 3 Net acquisition of financial assets 31.9 46.2 48.5 45.1 41.7 26.4 25.2 9.4 31.7 27.5 3

 4 Checkable deposits and currency 1.2 1.3 -0.1 -0.1 0.6 0.5 -1.1 0.2 -0.4 -0.2 4

 5 Money market fund shares 2.0 0.0 0.3 1.2 -0.0 1.1 -1.4 2.0 -0.3 -0.8 5

 6 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments 28.6 39.5 40.1 30.9 28.7 28.5 27.4 10.4 27.1 23.4 7

 8 Open market paper 2.9 0.1 0.4 1.6 -0.0 1.6 -2.0 2.8 -0.4 -1.1 8

 9 Treasury securities 5.8 12.7 8.6 9.4 10.8 8.3 23.3 3.5 14.1 9.0 9

 10 Agency- and GSE-backed securities 7.8 -0.6 0.1 0.2 3.4 5.9 9.7 -0.3 1.3 1.6 10

 11 Municipal securities 3.8 13.3 23.0 8.9 0.1 1.8 -10.7 6.3 10.4 7.4 11

 12 Corporate and foreign bonds 7.7 13.0 7.4 10.1 13.6 10.4 7.4 -1.2 3.3 7.2 12

 13 Commercial mortgages 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 13

 14 Corporate equities -2.0 -0.3 2.7 3.6 7.9 -7.0 -1.2 -0.4 0.8 0.8 14

 15 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 15

 16 Trade receivables 2.2 4.9 3.6 6.8 2.8 2.0 1.9 -0.1 1.7 2.2 16

 17 U.S. direct investment abroad -0.1 0.7 1.8 2.7 1.6 1.4 -0.3 -2.7 2.8 1.7 17

 18 Net increase in liabilities 38.9 45.2 41.0 29.5 31.7 23.3 13.6 20.4 21.5 12.4 18

 19 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Corporate equity issues 1.5 2.2 -2.0 -2.1 -1.6 -3.8 -2.6 -1.0 3.6 -3.5 20

 21 Taxes payable (net) 0.1 0.2 0.5 0.3 -0.7 0.7 0.7 -1.7 2.1 -0.4 21

 22 Foreign direct investment in U.S. 0.3 0.5 1.0 1.2 2.2 2.5 3.5 0.5 0.7 1.8 22

 23 Miscellaneous liabilities 37.0 42.2 41.4 30.1 31.8 24.0 12.0 22.6 15.2 14.5 23

 24 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Policy payables 37.0 42.2 41.4 30.1 31.8 24.0 12.0 22.6 15.2 14.5 25

 26 Discrepancy -1.8 -4.3 -7.0 -14.9 -13.9 -8.4 -16.8 -16.8 -15.2 -35.5 26

(1) Net capital transfers paid from table F.9, line 51.
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28 Historical Annuals, 1985-1994, March 12, 2015

F.116 Life Insurance Companies (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.5 -5.0 -8.0 0.3 -1.1 -2.7 1.0 -2.6 -5.1 6.1 1

 2 Fixed nonresidential investment 4.2 4.4 4.6 5.0 6.2 6.9 6.7 8.0 7.3 9.1 2

 3 Net acquisition of financial assets 90.6 104.7 101.2 113.7 114.1 112.1 110.6 97.7 142.5 126.2 3

 4 Checkable deposits and currency 0.5 0.7 -0.9 -0.3 0.5 -0.1 0.5 -0.6 0.4 0.4 4

 5 Money market fund shares 2.1 0.9 -3.1 0.1 -0.8 2.2 0.1 0.1 0.1 0.1 5

 6 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments 76.5 87.9 88.6 103.1 100.1 107.2 80.8 79.5 100.4 72.0 7

 8 Open market paper -0.2 5.4 -0.4 5.1 3.6 2.9 0.0 -2.5 3.6 5.9 8

 9 Treasury securities 10.5 7.3 -2.0 1.4 -5.7 6.3 18.6 10.2 20.1 -2.9 9

 10 Agency- and GSE-backed securities 12.5 10.6 7.0 8.6 25.0 20.3 42.4 27.7 27.6 11.3 10

 11 Municipal securities 1.0 2.0 -1.0 -1.6 -0.1 3.3 -2.1 1.1 3.2 -1.9 11

 12 Corporate and foreign bonds 37.8 40.8 66.9 68.4 52.8 56.5 25.4 55.0 58.3 59.9 12

 13 Other loans and advances -0.1 -0.3 -0.4 0.6 3.2 4.1 4.8 5.7 5.7 7.8 13

 14 Mortgages 15.1 22.0 18.5 20.5 21.4 13.6 -8.4 -17.5 -18.1 -8.1 14

 15 Corporate equities 4.8 -2.1 5.7 -3.4 9.7 -5.7 17.0 12.4 41.1 42.5 15

 16 Mutual fund shares 1.1 10.2 -2.2 5.7 -4.1 12.6 1.0 9.0 1.5 4.4 16

 17 U.S. direct investment abroad 0.1 -0.2 0.0 0.0 -0.1 0.6 0.6 0.3 -0.1 0.6 17

 18 Miscellaneous assets 5.5 7.2 13.0 8.6 8.9 -4.7 10.6 -3.1 -0.9 6.2 18

 19 Equity in FHLB 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Deferred and unpaid life ins. premiums 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 20

 21 Other 5.4 8.6 11.8 8.2 8.0 -4.8 11.4 -3.2 -1.4 5.6 21

 22 Net increase in liabilities 80.4 100.5 94.9 104.8 103.3 109.0 96.6 103.7 124.4 118.4 22

 23 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Corporate equity issues -0.1 0.6 -0.9 -0.1 -0.6 -1.4 -0.1 0.6 -0.8 -1.7 24

 25 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 25

 26 Life insurance reserves 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 26

 27 Pension entitlements (2) 55.6 63.4 30.9 69.2 52.3 79.7 38.8 82.4 81.4 45.5 27

 28 Taxes payable (net) 0.4 0.7 0.2 0.5 0.9 0.5 1.1 1.4 1.6 1.0 28

 29 Foreign direct investment in U.S. 0.7 2.2 0.9 1.3 1.4 1.9 1.0 1.2 0.2 1.0 29

 30 Miscellaneous liabilities 13.4 16.4 38.0 9.1 20.9 3.0 30.2 -9.6 6.0 38.1 30

 31 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other reserves (3) 4.1 4.1 5.3 6.3 5.3 5.6 5.9 8.5 7.6 8.1 32

 33 Unallocated insurance contracts 0.0 13.9 33.5 1.9 12.3 9.6 20.8 -19.6 -6.9 30.6 33

 34 Other 9.3 -1.6 -0.9 0.9 3.3 -12.2 3.6 1.5 5.3 -0.5 34

 35 Discrepancy -13.9 -13.6 -18.9 -13.6 -18.0 -12.7 -19.6 -4.6 -30.5 -10.8 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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Historical Annuals, 1985-1994, March 12, 2015 29

F.116.g Life Insurance Companies: General Accounts

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 90.6 104.7 101.2 113.7 114.1 112.1 110.6 97.7 142.5 126.2 1

 2 Checkable deposits and currency 0.5 0.7 -0.9 -0.3 0.5 -0.1 0.5 -0.6 0.4 0.4 2

 3 Money market fund shares 2.1 0.9 -3.1 0.1 -0.8 2.2 0.1 0.1 0.1 0.1 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 76.5 87.9 88.6 103.1 100.1 107.2 80.8 79.5 100.4 72.0 5

 6 Open market paper -0.2 5.4 -0.4 5.1 3.6 2.9 0.0 -2.5 3.6 5.9 6

 7 Treasury securities 10.5 7.3 -2.0 1.4 -5.7 6.3 18.6 10.2 20.1 -2.9 7

 8 Agency- and GSE-backed securities 12.5 10.6 7.0 8.6 25.0 20.3 42.4 27.7 27.6 11.3 8

 9 Municipal securities 1.0 2.0 -1.0 -1.6 -0.1 3.3 -2.1 1.1 3.2 -1.9 9

 10 Corporate and foreign bonds 37.8 40.8 66.9 68.4 52.8 56.5 25.4 55.0 58.3 59.9 10

 11 Other loans and advances -0.1 -0.3 -0.4 0.6 3.2 4.1 4.8 5.7 5.7 7.8 11

 12 Mortgages 15.1 22.0 18.5 20.5 21.4 13.6 -8.4 -17.5 -18.1 -8.1 12

 13 Corporate equities 4.8 -2.1 5.7 -3.4 9.7 -5.7 17.0 12.4 41.1 42.5 13

 14 Mutual fund shares 1.1 10.2 -2.2 5.7 -4.1 12.6 1.0 9.0 1.5 4.4 14

 15 U.S. direct investment abroad 0.1 -0.2 0.0 0.0 -0.1 0.6 0.6 0.3 -0.1 0.6 15

 16 Miscellaneous assets 5.5 7.2 13.0 8.6 8.9 -4.7 10.6 -3.1 -0.9 6.2 16

 17 Net increase in liabilities 80.4 100.5 94.9 104.8 103.3 109.0 96.6 103.7 124.4 118.4 17

 18 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Corporate equity issues -0.1 0.6 -0.9 -0.1 -0.6 -1.4 -0.1 0.6 -0.8 -1.7 19

 20 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 20

 21 Life insurance reserves 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 21

 22 Pension entitlements (1) 55.6 63.4 30.9 69.2 52.3 79.7 38.8 82.4 81.4 45.5 22

 23 Taxes payable (net) 0.4 0.7 0.2 0.5 0.9 0.5 1.1 1.4 1.6 1.0 23

 24 Foreign direct investment in U.S. 0.7 2.2 0.9 1.3 1.4 1.9 1.0 1.2 0.2 1.0 24

 25 Miscellaneous liabilities 13.4 16.4 38.0 9.1 20.9 3.0 30.2 -9.6 6.0 38.1 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

 1 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Net increase in liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Pension entitlements (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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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30 Historical Annuals, 1985-1994, March 12, 2015

F.117 Private and Public Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.2 0.2 0.2 0.1 0.1 0.2 0.1 2

 3 Net acquisition of financial assets (2) 175.3 166.6 194.0 215.2 214.8 220.5 262.9 251.4 277.9 293.3 3

 4 Checkable deposits and currency 0.3 -0.6 1.5 2.4 -1.6 1.0 -1.5 2.7 0.3 1.0 4

 5 Time and savings deposits 9.9 7.0 -15.5 12.8 29.4 -5.6 6.7 -19.0 -4.1 3.0 5

 6 Money market fund shares 3.6 2.2 2.1 2.3 3.4 -0.0 1.2 1.2 7.5 6.1 6

 7 Security repurchase agreements 10.8 5.0 2.6 1.2 1.6 1.2 10.4 6.0 -3.3 1.2 7

 8 Credit market instruments 42.3 49.4 46.4 45.4 84.7 66.7 30.7 66.1 66.3 53.2 8

 9 Open market paper 4.9 7.6 10.2 -7.1 -1.2 2.1 9.9 5.6 -3.5 1.2 9

 10 Treasury securities 37.6 14.2 24.8 13.1 13.6 18.4 -5.4 32.4 12.5 18.3 10

 11 Agency- and GSE-backed securities 17.3 -7.9 17.9 6.8 39.7 34.3 8.1 -7.6 10.4 45.0 11

 12 Corporate and foreign bonds -21.4 38.4 -3.4 24.2 26.5 9.4 23.8 40.0 49.5 -6.5 12

 13 Mortgages 4.3 -2.5 -3.3 8.7 6.3 2.4 -5.9 -4.1 -3.5 -4.5 13

 14 Corporate equities 39.9 11.1 32.5 29.6 -19.8 23.4 52.3 17.7 71.2 24.7 14

 15 Mutual fund shares 2.0 -0.1 6.1 -2.6 4.6 7.1 16.2 26.4 40.6 74.4 15

 16 Miscellaneous assets 66.5 92.8 118.3 124.0 112.6 126.7 147.0 150.2 99.4 129.7 16

 17 Unallocated insurance contracts (3) 0.0 13.9 33.5 1.9 12.3 9.6 20.8 -19.6 -6.9 30.6 17

 18 Contributions receivable 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 18

 19 Nonmarketable Treasury securities (4) 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 19

 20 Claims of pension fund on sponsor (5) -1.7 43.3 58.6 68.6 68.4 109.9 80.5 133.1 69.9 49.7 20

 21 Other 22.6 5.9 -5.6 22.0 -9.9 -32.3 -4.7 -12.9 -13.0 0.1 21

 22 Pension entitlements (liabilities) (6) 175.4 166.7 194.1 215.3 215.0 220.6 263.0 251.5 278.0 293.4 22

 Memo:

 23 Household retirement assets (7) 296.0 306.2 290.3 331.6 325.4 392.3 390.2 411.7 433.4 411.2 23

 24 Defined benefit plans 142.4 140.8 151.2 168.5 176.1 188.1 196.6 209.4 213.1 219.0 24

 25 Defined contribution plans 32.9 25.8 42.9 46.7 38.7 32.4 66.3 41.9 64.8 74.3 25

 26 Individual retirement plans (IRAs) (8) 72.8 81.7 73.2 55.3 56.9 96.4 95.6 82.9 86.7 85.6 26

 27 Annuities at life insurance companies (9) 47.9 57.8 23.1 61.1 53.6 75.3 31.7 77.4 68.8 32.3 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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Historical Annuals, 1985-1994, March 12, 2015 31

F.118 Private Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 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 0.1 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 (2) 71.9 56.4 81.0 96.2 82.5 80.6 114.5 84.9 110.6 120.5 3

 4 Checkable deposits and currency -0.0 -1.4 -0.2 2.9 -0.4 -0.8 -0.3 -0.0 0.2 0.9 4

 5 Time and savings deposits 8.6 10.4 -10.8 10.9 27.5 -4.2 5.5 -17.1 -3.4 6.6 5

 6 Money market fund shares 2.1 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 6

 7 Security repurchase agreements 8.3 1.7 -0.4 2.2 2.2 -1.3 3.7 0.2 0.9 -6.2 7

 8 Credit market instruments 23.1 4.3 13.6 21.8 51.1 42.8 25.7 26.1 35.9 39.4 8

 9 Open market paper 2.4 4.0 7.2 -6.3 -1.2 -0.9 3.5 0.0 0.8 -6.2 9

 10 Treasury securities 20.1 -15.7 0.2 -0.3 9.7 -0.1 -5.3 -8.5 -4.3 16.8 10

 11 Agency- and GSE-backed securities 22.5 -8.0 13.1 14.4 23.8 22.4 13.0 10.6 14.0 40.7 11

 12 Corporate and foreign bonds -26.2 26.7 -3.9 5.5 12.2 19.7 21.1 27.7 26.9 -6.7 12

 13 Mortgages 4.3 -2.8 -3.1 8.5 6.6 1.6 -6.7 -3.7 -1.6 -5.2 13

 14 Corporate equities 10.9 -12.8 -0.0 6.8 -33.9 0.5 12.0 1.8 35.3 -4.3 14

 15 Mutual fund shares 2.0 1.8 2.2 -0.5 5.1 6.6 11.2 22.2 34.6 55.3 15

 16 Miscellaneous assets 16.9 50.5 74.9 50.2 28.0 37.1 55.7 50.9 0.7 23.6 16

 17 Unallocated insurance contracts (3) 0.0 13.9 33.5 1.9 12.3 9.6 20.8 -19.6 -6.9 30.6 17

 18 Contributions receivable 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 18

 19 Claims of pension fund on sponsor (4) -11.3 31.5 45.7 29.2 22.6 55.2 24.7 73.5 7.7 -18.4 19

 20 Other 22.4 5.1 -5.8 20.4 -14.2 -33.8 -1.8 -13.0 -12.4 -0.2 20

 21 Pension entitlements (liabilities) (5) 72.0 56.5 81.1 96.3 82.6 80.7 114.6 84.9 110.6 120.6 21

 Memo:

 Net acquisition of financial assets (6)

 22 Defined benefit plans 39.4 31.5 39.8 51.5 46.5 52.0 52.1 48.1 51.9 52.9 22

 23 Defined contribution plans 32.5 24.9 41.3 44.7 36.0 28.6 62.4 36.7 58.7 67.7 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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32 Historical Annuals, 1985-1994, March 12, 2015

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets (1) 39.4 31.5 39.8 51.5 46.5 52.0 52.1 48.1 51.9 52.9 1

 2 Checkable deposits and currency -0.0 -0.6 -0.2 1.9 -1.0 -0.5 -0.1 0.0 -0.0 0.8 2

 3 Time and savings deposits 4.9 8.7 1.1 -3.5 9.6 -5.5 5.5 -9.1 6.4 13.1 3

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

 5 Security repurchase agreements 3.0 1.1 -0.1 1.6 0.3 -1.7 1.8 -1.1 -0.0 -4.2 5

 6 Credit market instruments 18.6 -6.6 2.5 28.3 41.6 32.0 12.8 17.1 22.9 35.6 6

 7 Open market paper 2.6 3.6 5.1 -3.9 -2.5 -1.7 1.8 -1.1 -0.0 -4.2 7

 8 Treasury securities 15.1 -7.2 -5.7 1.7 7.9 0.6 -8.9 -11.0 -5.6 10.1 8

 9 Agency- and GSE-backed securities 17.5 -4.3 7.6 13.5 21.8 20.5 12.8 11.5 15.9 30.7 9

 10 Corporate and foreign bonds -21.0 2.5 -1.3 11.2 8.8 11.2 13.8 20.8 14.0 2.7 10

 11 Mortgages 4.3 -1.2 -3.3 5.9 5.6 1.5 -6.8 -3.1 -1.4 -3.7 11

 12 Corporate equities 7.5 -9.5 -7.7 -0.4 -22.4 0.2 2.0 -19.0 10.4 -3.8 12

 13 Mutual fund shares 2.0 0.9 0.9 -0.6 0.0 0.4 1.4 2.8 4.6 16.2 13

 14 Miscellaneous assets 3.5 37.5 43.4 24.1 18.4 27.2 28.7 57.4 7.4 -4.8 14

 15 Unallocated insurance contracts (2) 0.0 3.4 4.9 -15.2 -1.9 -6.2 -2.2 -15.0 -8.1 8.4 15

 16 Contributions receivable 5.8 -0.1 -1.5 -0.3 4.4 2.8 8.2 5.6 7.4 6.2 16

 17 Claims of pension fund on sponsor (3) -11.3 31.5 45.7 29.2 22.6 55.2 24.7 73.5 7.7 -18.4 17

 18 Other 9.0 2.7 -5.8 10.4 -6.8 -24.6 -1.9 -6.7 0.6 -1.0 18

 19 Net increase in pension entitlements (liabilities) (4) 39.5 31.6 39.8 51.6 46.6 52.0 52.2 48.2 51.9 52.9 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

 1 Net acquisition of financial assets 32.5 24.9 41.3 44.7 36.0 28.6 62.4 36.7 58.7 67.7 1

 2 Checkable deposits and currency -0.0 -0.8 -0.1 1.0 0.6 -0.3 -0.3 -0.1 0.2 0.1 2

 3 Time and savings deposits 3.7 1.7 -11.9 14.3 17.9 1.3 0.1 -8.0 -9.8 -6.5 3

 4 Money market fund shares 2.1 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 4

 5 Security repurchase agreements 5.3 0.6 -0.3 0.6 1.9 0.4 1.9 1.3 0.9 -2.0 5

 6 Credit market instruments 4.5 10.8 11.2 -6.6 9.5 10.8 12.9 9.0 12.9 3.8 6

 7 Open market paper -0.2 0.4 2.1 -2.4 1.3 0.8 1.7 1.1 0.8 -2.0 7

 8 Treasury securities 5.0 -8.6 5.9 -2.0 1.8 -0.7 3.6 2.5 1.3 6.7 8

 9 Agency- and GSE-backed securities 4.9 -3.7 5.5 0.8 2.0 1.9 0.2 -0.9 -1.9 10.0 9

 10 Corporate and foreign bonds -5.2 24.2 -2.6 -5.6 3.4 8.6 7.4 6.9 12.9 -9.4 10

 11 Mortgages 0.0 -1.6 0.3 2.6 1.0 0.1 0.1 -0.6 -0.2 -1.4 11

 12 Corporate equities 3.5 -3.3 7.7 7.2 -11.5 0.2 10.1 20.8 24.8 -0.5 12

 13 Mutual fund shares 0.0 0.9 1.3 0.1 5.1 6.2 9.8 19.4 29.9 39.0 13

 14 Miscellaneous assets 13.5 13.1 31.6 26.1 9.6 10.0 27.0 -6.6 -6.7 28.4 14

 15 Unallocated insurance contracts (2) 0.0 10.6 28.6 17.0 14.2 15.9 23.0 -4.6 1.3 22.1 15

 16 Contributions receivable 0.0 0.1 3.0 -0.9 2.8 3.2 3.9 4.4 4.9 5.5 16

 17 Other 13.5 2.4 -0.1 10.0 -7.4 -9.2 0.1 -6.3 -13.0 0.8 17

 18 Net increase in pension entitlements (liabilities) 32.5 24.9 41.3 44.7 36.0 28.6 62.4 36.7 58.7 67.7 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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Historical Annuals, 1985-1994, March 12, 2015 33

F.119 Federal Government Employee Retirement Funds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets (1) 59.3 62.4 61.8 64.2 66.9 68.6 71.0 74.1 72.1 72.7 1

 2 Credit market instruments 0.0 0.0 1.1 1.6 2.1 2.7 2.7 3.0 3.2 3.5 2

 3 Treasury securities (2) 0.0 0.0 1.1 1.6 2.1 2.6 2.6 2.8 2.9 3.3 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.1 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.3 0.5 1.2 1.7 1.7 6

 7 Miscellaneous assets 59.3 62.4 60.8 62.5 64.7 65.6 67.8 69.8 67.2 67.5 7

 8 Nonmarketable Treasury securities (3) 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 8

 9 Claims of pension fund on sponsor (4) 19.4 32.9 30.5 29.8 30.2 32.2 29.5 30.0 30.1 29.9 9

 10 Pension entitlements (liabilities) (5) 59.3 62.4 61.8 64.2 66.9 68.6 71.0 74.1 72.1 72.7 10

 Memo:

 Net acquisition of financial assets (6)

 11 Defined benefit plans 59.3 62.4 60.8 62.5 64.7 65.6 67.8 69.8 67.2 67.5 11

 12 Defined contibution plans 0.0 0.0 1.1 1.7 2.2 3.0 3.1 4.3 4.9 5.2 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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34 Historical Annuals, 1985-1994, March 12, 2015

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets (2) 59.3 62.4 60.8 62.5 64.7 65.6 67.8 69.8 67.2 67.5 1

 2 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 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 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Miscellaneous assets 59.3 62.4 60.8 62.5 64.7 65.6 67.8 69.8 67.2 67.5 7

 8 Nonmarketable Treasury securities (3) 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 8

 9 Claims of pension fund on sponsor (4) 19.4 32.9 30.5 29.8 30.2 32.2 29.5 30.0 30.1 29.9 9

 10 Pension entitlements (liabilities) (5) 59.3 62.4 60.8 62.5 64.7 65.6 67.8 69.8 67.2 67.5 10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and

 disability fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

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

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 0.0 0.0 1.1 1.7 2.2 3.0 3.1 4.3 4.9 5.2 1

 2 Credit market instruments 0.0 0.0 1.1 1.6 2.1 2.7 2.7 3.0 3.2 3.5 2

 3 Treasury securities (2) 0.0 0.0 1.1 1.6 2.1 2.6 2.6 2.8 2.9 3.3 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.1 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.3 0.5 1.2 1.7 1.7 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 7

 8 Pension entitlements (liabilities) 0.0 0.0 1.1 1.7 2.2 3.0 3.1 4.3 4.9 5.2 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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Historical Annuals, 1985-1994, March 12, 2015 35

F.120 State and Local Government Employee Retirement Funds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 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 0.0 0.0 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets (1) 44.0 47.8 51.2 54.8 65.5 71.4 77.4 92.4 95.2 100.1 3

 4 Checkable deposits and currency 0.3 0.7 1.8 -0.5 -1.2 1.8 -1.1 2.7 0.1 0.1 4

 5 Time and savings deposits 1.4 -3.4 -4.7 1.9 2.0 -1.4 1.1 -1.9 -0.7 -3.6 5

 6 Money market fund shares 1.4 0.3 0.3 0.3 0.5 0.0 0.2 0.2 1.0 0.8 6

 7 Security repurchase agreements 2.5 3.3 3.0 -1.0 -0.5 2.5 6.6 5.8 -4.2 7.4 7

 8 Credit market instruments 19.2 45.1 31.7 22.0 31.4 21.3 2.3 37.0 27.2 10.4 8

 9 Open market paper 2.5 3.6 3.0 -0.9 0.0 3.0 6.4 5.6 -4.3 7.4 9

 10 Treasury securities 17.5 30.0 23.5 11.8 1.8 15.9 -2.7 38.1 13.9 -1.8 10

 11 Agency- and GSE-backed securities -5.2 0.0 4.8 -7.6 15.8 11.9 -4.9 -18.3 -3.8 4.2 11

 12 Municipal securities -0.4 -0.4 0.1 -0.3 -0.3 0.2 0.1 -0.2 0.9 -0.3 12

 13 Corporate and foreign bonds 4.8 11.7 0.5 18.6 14.4 -10.4 2.6 12.2 22.4 0.2 13

 14 Mortgages 0.1 0.2 -0.2 0.3 -0.3 0.8 0.8 -0.4 -1.9 0.7 14

 15 Corporate equities 29.0 23.9 32.5 22.8 14.0 22.7 39.8 14.8 34.3 27.3 15

 16 Mutual fund shares 0.0 -1.9 3.9 -2.1 -0.6 0.5 5.0 4.3 6.1 19.1 16

 17 Miscellaneous assets -9.8 -20.2 -17.4 11.3 19.9 24.0 23.5 29.5 31.5 38.6 17

 18 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Claims of pension fund on sponsor (3) -9.9 -21.0 -17.6 9.7 15.7 22.5 26.4 29.5 32.1 38.3 19

 20 Other 0.1 0.8 0.2 1.6 4.2 1.5 -2.9 0.0 -0.6 0.3 20

 21 Pension entitlements (liabilities) (4) 44.1 47.8 51.2 54.8 65.5 71.4 77.5 92.4 95.3 100.2 21

 Net acquisition of financial assets (5)

 22 Defined benefit plans 43.7 46.9 50.7 54.5 65.0 70.6 76.7 91.5 94.0 98.6 22

 23 Defined contibution plans 0.4 0.9 0.5 0.3 0.5 0.8 0.8 0.9 1.2 1.5 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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36 Historical Annuals, 1985-1994, March 12, 2015

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets (1) 43.7 46.9 50.7 54.5 65.0 70.6 76.7 91.5 94.0 98.6 1

 2 Checkable deposits and currency 0.4 0.7 1.8 -0.4 -1.2 1.8 -1.2 2.7 0.1 0.1 2

 3 Time and savings deposits 1.4 -3.4 -4.7 1.9 1.9 -1.4 1.1 -1.9 -0.7 -3.7 3

 4 Money market fund shares 1.4 0.3 0.3 0.3 0.5 0.0 0.2 0.2 1.0 0.8 4

 5 Security repurchase agreements 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 5

 6 Credit market instruments 19.2 44.7 31.7 21.8 30.9 20.5 2.6 37.1 26.9 10.1 6

 7 Open market paper 2.5 3.3 3.0 -1.1 -0.5 2.5 6.6 5.8 -4.2 7.4 7

 8 Treasury securities 17.5 29.9 23.5 11.8 1.7 15.8 -2.7 38.0 13.9 -1.9 8

 9 Agency- and GSE-backed securities -5.2 0.0 4.8 -7.6 15.9 11.6 -4.8 -18.3 -4.0 4.1 9

 10 Municipal securities -0.4 -0.4 0.1 -0.3 -0.3 0.2 0.1 -0.2 0.9 -0.3 10

 11 Corporate and foreign bonds 4.8 11.7 0.4 18.7 14.4 -10.5 2.6 12.2 22.1 0.1 11

 12 Mortgages 0.1 0.2 -0.2 0.3 -0.3 0.8 0.8 -0.4 -1.9 0.7 12

 13 Corporate equities 28.6 24.0 32.4 22.9 14.0 22.5 39.1 13.8 33.3 26.1 13

 14 Mutual fund shares 0.0 -1.9 3.9 -2.1 -0.6 0.5 5.0 4.3 6.1 19.1 14

 15 Miscellaneous assets -9.7 -20.8 -17.7 11.2 19.8 24.0 23.2 29.4 31.7 38.7 15

 16 Claims of pension fund on sponsor (2) -9.9 -21.0 -17.6 9.7 15.7 22.5 26.4 29.5 32.1 38.3 16

 17 Other 0.1 0.2 -0.1 1.5 4.2 1.6 -3.2 -0.1 -0.4 0.5 17

 18 Pension entitlements (liabilities) (3) 43.7 46.9 50.7 54.5 65.0 70.6 76.7 91.5 94.1 98.6 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

 1 Net acquisition of financial assets 0.4 0.9 0.5 0.3 0.5 0.8 0.8 0.9 1.2 1.5 1

 2 Checkable deposits and currency -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 2

 3 Time and savings deposits -0.0 0.1 0.0 0.0 0.0 -0.0 0.0 -0.0 -0.0 0.1 3

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

 5 Security repurchase agreements 0.0 0.0 0.0 0.1 -0.1 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments -0.0 0.4 -0.0 0.2 0.5 0.8 -0.3 -0.1 0.3 0.3 6

 7 Open market paper -0.0 0.3 -0.0 0.2 0.5 0.5 -0.3 -0.2 -0.1 -0.0 7

 8 Treasury securities 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.1 -0.0 0.1 8

 9 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 -0.0 0.2 -0.1 -0.0 0.1 0.1 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds -0.0 0.0 0.0 -0.0 -0.0 0.0 0.1 0.1 0.3 0.1 11

 12 Corporate equities 0.4 -0.2 0.2 -0.0 -0.0 0.2 0.7 0.9 1.0 1.2 12

 13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Miscellaneous assets -0.0 0.6 0.3 0.1 0.1 -0.1 0.3 0.1 -0.2 -0.2 14

 15 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Other -0.0 0.6 0.3 0.1 0.1 -0.1 0.3 0.1 -0.2 -0.2 16

 17 Pension entitlements (liabilities) 0.4 0.9 0.5 0.3 0.5 0.8 0.8 0.9 1.2 1.5 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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Historical Annuals, 1985-1994, March 12, 2015 37

F.121 Money Market Mutual Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 1

 2 Foreign deposits -2.2 3.1 -0.6 7.9 -3.2 0.6 -5.3 -1.2 -10.3 5.7 2

 3 Checkable deposits and currency 1.4 -0.2 -0.3 1.0 -0.6 11.1 -11.5 -2.4 1.4 -1.3 3

 4 Time and savings deposits -6.7 2.7 14.5 -0.8 9.3 -21.1 13.2 -0.5 -2.8 -0.5 4

 5 Security repurchase agreements 3.3 6.0 7.0 2.3 13.1 3.9 8.8 -1.0 0.4 2.4 5

 6 Credit market instruments 14.0 34.9 1.9 10.5 68.3 77.5 32.7 4.7 20.4 30.0 6

 7 Open market paper 1.1 6.1 5.7 17.4 57.0 19.5 -13.4 -17.0 -9.1 22.7 7

 8 Treasury securities -0.8 3.4 -13.7 -2.7 3.2 30.2 33.4 0.2 1.0 -13.3 8

 9 Agency- and GSE-backed securities 1.1 -3.0 11.7 -8.6 2.7 15.6 4.2 13.6 13.5 9.4 9

 10 Municipal securities 12.5 27.6 -2.3 4.3 4.0 13.9 6.6 5.4 9.6 7.8 10

 11 Corporate and foreign bonds 0.2 0.8 0.4 0.1 1.4 -1.7 1.8 2.5 5.4 3.4 11

 12 Miscellaneous assets 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 12

 13 Net share issues (liabilities) 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 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

 1 Gross saving 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 1

 2 Net acquisition of financial assets 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 2

 3 Security repurchase agreements 0.1 1.5 0.8 1.3 -0.2 1.4 6.1 9.7 16.8 4.4 3

 4 Credit market instruments 76.1 129.9 31.3 13.3 22.7 36.2 80.1 126.2 159.5 -7.1 4

 5 Open market paper -0.5 7.9 3.6 9.1 -0.6 3.7 -16.3 9.7 16.8 4.4 5

 6 Treasury securities 32.2 32.4 12.8 -3.8 1.2 5.7 16.8 6.5 23.6 -3.5 6

 7 Agency- and GSE-backed securities 20.7 37.3 2.8 -3.4 1.6 8.1 24.1 50.3 25.7 -6.9 7

 8 Municipal securities 15.8 32.1 7.9 8.1 15.7 13.9 27.2 28.7 42.9 -4.3 8

 9 Corporate and foreign bonds 8.0 20.2 4.1 3.2 4.8 4.7 28.4 31.0 50.6 3.2 9

 10 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate equities 10.3 20.2 26.9 -16.0 1.2 14.4 48.5 59.8 115.3 100.8 11

 12 Miscellaneous assets 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 12

 13 Net share issues (liabilities) 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 13

 14 Discrepancy 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 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

 Closed-end funds

 1 Net acquisition of financial assets 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 1

 2 Credit market instruments 1.4 2.9 4.0 17.9 6.6 1.3 12.8 20.2 20.0 -3.7 2

 3 Treasury securities 0.1 0.4 0.6 3.2 1.8 0.2 3.1 1.7 2.1 -1.0 3

 4 Municipal securities 1.0 1.1 1.3 4.2 4.6 2.0 11.3 14.3 12.1 1.6 4

 5 Corporate and foreign bonds 0.3 1.4 2.1 10.4 0.1 -0.9 -1.6 4.2 5.8 -4.4 5

 6 Corporate equities -0.4 2.9 3.3 2.8 -0.3 0.1 1.8 -0.0 3.7 6.1 6

 7 Net share issues (liabilities) 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 7

 Exchange-traded funds

 8 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

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

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 13

 14 Net share issues (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 14
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38 Historical Annuals, 1985-1994, March 12, 2015

F.124 Government-Sponsored Enterprises (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.1 -0.3 0.6 1.4 1.8 1.7 1.9 1.5 1.7 1.5 1

 2 Fixed nonresidential investment 0.5 0.5 0.4 0.4 0.3 0.3 0.3 0.3 0.5 0.5 2

 3 Net acquisition of financial assets 28.7 22.5 27.9 47.3 32.5 23.4 19.2 56.0 78.8 150.7 3

 4 Checkable deposits and currency 0.8 1.5 -0.1 -0.0 -1.3 -0.2 -0.9 -0.0 0.9 -0.8 4

 5 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal funds and security repos 6.0 2.5 -2.2 6.6 28.0 6.9 -1.1 -1.0 -16.2 35.4 6

 7 Credit market instruments 25.1 16.6 23.4 33.3 -4.3 14.0 15.0 69.3 88.5 121.2 7

 8 Open market paper -0.6 -0.0 -0.0 0.4 2.9 0.5 7.1 2.7 -1.7 14.4 8

 9 Treasury securities 4.1 9.5 4.7 5.3 -13.3 21.3 18.2 17.9 -7.1 0.3 9

 10 Agency- and GSE-backed securities 0.1 -0.6 -0.1 0.2 5.9 5.6 11.1 12.7 18.6 64.8 10

 11 Municipal securities 0.4 0.7 0.2 0.5 -0.0 0.8 -0.7 0.2 -0.1 2.0 11

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 8.9 12

 13 Other loans and advances 10.3 17.6 25.0 18.8 -8.6 -23.1 -34.1 0.6 23.8 23.6 13

 14 Sallie Mae 1.0 0.8 1.4 -0.3 0.5 1.0 1.1 -1.6 -0.8 0.0 14

 15 Farm Credit System -4.9 -3.1 -0.8 -0.7 1.9 0.5 2.8 1.4 1.4 0.8 15

 16 FHLB loans 14.2 19.8 24.4 19.7 -11.0 -24.7 -38.0 0.8 23.3 22.8 16

 17 Mortgages 9.6 -12.0 -8.3 5.0 6.0 5.7 11.5 32.1 41.3 3.6 17

 18 Home 17.2 -5.7 -3.1 6.2 5.1 5.3 11.2 30.3 40.0 3.0 18

 19 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Other 17.2 -5.7 -3.1 6.2 5.1 5.3 11.2 30.3 40.0 3.0 20

 21 Multifamily residential 1.9 0.3 -0.3 1.1 2.5 1.2 1.0 1.6 1.7 0.9 21

 22 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other 1.9 0.3 -0.3 1.1 2.5 1.2 1.0 1.6 1.7 0.9 23

 24 Farm -9.5 -6.5 -4.9 -2.3 -1.5 -0.9 -0.7 0.1 -0.5 -0.3 24

 25 Consumer credit (3) 1.2 1.4 1.9 3.2 2.8 3.2 1.9 3.1 2.6 3.6 25

 26 Miscellaneous assets -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 26

 27 Net increase in liabilities 31.6 23.8 28.3 47.1 30.7 18.4 15.3 53.2 78.0 147.5 27

 28 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Credit market instruments 21.7 14.9 29.5 44.9 25.2 17.0 9.2 40.7 80.6 172.1 29

 30 GSE issues (4) 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 30

 31 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 32

 33 U.S. government loans 1.1 -0.4 -0.8 0.0 0.0 -0.1 -0.0 -0.0 0.0 -4.8 33

 34 Corporate equities 1.0 0.7 1.3 1.1 -0.8 -3.2 -1.2 0.0 2.4 0.3 34

 35 Miscellaneous liabilities 8.8 8.2 -2.4 1.1 6.3 4.6 7.3 12.5 -4.9 -24.9 35

 36 Discrepancy 2.5 0.4 0.5 0.8 -0.3 -3.6 -2.4 -1.6 0.3 -2.2 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

 1 Net acquisition of financial assets 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 1

 2 Home mortgages 77.6 159.3 133.4 70.7 120.2 147.3 139.3 117.8 86.1 115.3 2

 3 Multifamily residential mortgages 1.5 5.1 4.5 5.2 4.1 3.0 -2.6 -2.3 -1.4 -0.0 3

 4 Commercial mortgages 0.0 0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 4

 5 Farm mortgages -0.2 -0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 5

 6 Net increase in pool securities (liabilities)(2) 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 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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Historical Annuals, 1985-1994, March 12, 2015 39

F.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.4 0.3 0.4 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.5 0.9 0.2 0.3 0.6 2

 3 Net acquisition of financial assets 15.8 37.5 43.6 36.1 26.9 59.1 53.3 56.4 82.5 70.0 3

 4 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Agency- and GSE-backed securities (1) 9.0 43.4 28.2 25.4 -8.0 4.1 -23.0 -23.0 23.6 23.2 5

 6 Other loans and advances 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 6

 7 Mortgages (2) 6.0 -6.7 13.6 9.0 12.2 13.4 43.5 54.8 36.4 20.1 7

 8 Home 5.4 -7.4 11.2 7.1 8.5 11.7 38.1 45.5 25.6 15.1 8

 9 Multifamily residential 0.0 0.2 0.4 0.4 -0.0 -0.1 2.9 2.8 1.8 1.4 9

 10 Commercial 0.6 0.6 2.0 1.5 3.7 1.8 2.4 6.5 9.0 3.6 10

 11 Consumer credit 0.0 0.0 0.0 0.0 20.2 29.3 26.3 17.3 10.2 15.6 11

 12 Trade credit 0.9 0.9 1.8 1.7 1.9 8.7 4.1 4.3 2.6 6.8 12

 13 Net increase in liabilities 15.8 37.5 43.6 36.1 26.9 59.4 53.8 56.3 82.5 70.3 13

 14 Commercial paper 0.9 0.9 1.8 1.7 8.9 15.7 7.3 8.1 4.7 12.4 14

 15 Corporate bonds (net) (3) 15.0 36.7 41.8 34.4 18.0 43.7 46.4 48.1 77.8 57.9 15

 16 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Memo:

 Securitized assets not included above

 17 Consumer leases (4) 0.0 0.0 0.0 0.0 0.0 0.3 0.5 -0.1 0.0 0.3 17

 18 REIT assets (5) 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -0.7 -1.7 -3.6 18

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Net issuance less net acquisition of corporate bonds held as assets.

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

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

(5) Included in table F.128.

F.127 Finance Companies (1)

Billions of dollars

 1 Gross saving 2.7 3.8 8.7 9.8 12.8 14.6 16.2 17.8 20.2 22.0 1

 2 Fixed nonresidential investment 10.0 12.6 12.5 14.1 17.3 16.8 14.4 12.8 23.5 29.3 2

 3 Net acquisition of financial assets 54.2 60.7 46.5 49.4 49.0 27.5 23.9 -3.9 6.3 18.3 3

 4 Checkable deposits and currency 1.0 0.9 1.4 1.2 0.8 1.2 2.3 0.4 1.5 1.4 4

 5 Time and savings deposits 0.3 0.8 0.6 0.5 1.3 0.7 2.8 0.3 3.1 1.2 5

 6 Credit market instruments 50.7 56.7 38.4 45.0 55.4 27.5 7.7 2.4 -7.3 32.0 6

 7 Corporate and foreign bonds 3.7 5.1 5.7 4.8 6.1 5.4 14.8 1.9 13.6 7.6 7

 8 Other loans and advances 18.3 15.6 34.3 28.6 23.5 17.4 -4.3 1.1 -15.9 25.9 8

 9 Mortgages 8.0 17.5 -4.7 10.3 26.6 11.2 9.5 2.7 -3.1 -19.8 9

 10 Consumer credit 20.7 18.6 3.1 1.2 -0.7 -6.5 -12.2 -3.3 -1.9 18.3 10

 11 U.S. direct investment abroad 0.1 1.2 -0.7 2.3 11.0 -5.4 1.3 3.7 20.4 0.7 11

 12 Miscellaneous assets 2.1 1.0 6.9 0.4 -19.5 3.5 9.8 -10.7 -11.5 -17.0 12

 13 Net increase in liabilities 55.5 61.5 41.7 41.2 42.7 27.9 30.9 3.9 10.8 40.3 13

 14 Credit market instruments 41.9 60.5 12.0 24.0 37.5 23.1 13.6 4.9 -1.3 37.2 14

 15 Open market paper 29.6 21.6 10.7 17.1 8.7 3.1 -8.6 -6.0 -0.1 22.5 15

 16 Corporate bonds 14.7 26.3 9.6 5.9 15.6 16.8 14.8 8.9 12.5 31.7 16

 17 Depository institution loans n.e.c. -2.5 12.6 -8.3 1.0 13.2 3.2 7.4 2.0 -13.7 -17.1 17

 18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Taxes payable 0.0 0.0 0.3 0.2 0.4 0.4 0.5 0.6 0.8 0.8 19

 20 Foreign direct investment in U.S. -0.5 2.1 -0.2 -0.5 7.2 -3.5 1.3 1.7 7.1 0.4 20

 21 Miscellaneous liabilities 14.2 -1.1 29.6 17.6 -2.3 7.8 15.5 -3.3 4.3 1.9 21

 22 Investment by parent 17.6 10.3 -11.5 -22.6 -1.5 1.4 -4.3 2.0 1.2 6.2 22

 23 Other -3.4 -11.5 41.1 40.2 -0.8 6.4 19.8 -5.3 3.1 -4.3 23

 24 Discrepancy -5.9 -8.0 -8.6 -12.4 -10.8 -1.8 8.7 12.8 1.3 14.6 24

 Memo:

 25 Consumer leases not included above (2) 2.7 2.8 2.3 2.9 2.8 6.6 7.4 5.5 10.2 18.2 25

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.126.
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40 Historical Annuals, 1985-1994, March 12, 2015

F.128 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 0.0 0.6 0.4 0.4 0.2 0.3 0.4 0.5 1.2 1.0 1

 2 Fixed nonresidential investment 0.7 1.0 1.2 1.2 1.4 2.0 1.9 2.2 2.0 2.0 2

 3 Multifamily residential investment 0.1 0.2 0.2 0.1 0.1 0.2 0.2 2.6 5.2 7.3 3

 4 Net acquisition of financial assets 2.8 4.6 8.4 5.1 2.2 -2.2 0.5 -0.9 1.9 1.1 4

 5 Checkable deposits and currency 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 2.6 5.0 7.5 4.3 0.6 -1.8 -0.6 1.4 0.4 -0.7 6

 7 Agency- and GSE-backed securities 0.2 5.0 6.5 2.5 0.9 -1.1 0.1 -0.7 -0.3 -6.4 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 0.2 1.0 8

 9 Mortgages 2.4 0.0 1.0 1.7 -0.3 -0.7 -0.7 1.1 0.6 4.7 9

 10 Home 0.1 -0.0 0.0 0.1 -0.0 -0.0 -0.1 0.8 1.1 2.8 10

 11 Multifamily residential 0.4 0.0 0.3 0.5 -0.1 -0.2 -0.1 0.0 -0.3 0.2 11

 12 Commercial 1.9 0.0 0.7 1.1 -0.2 -0.5 -0.5 0.3 -0.3 1.7 12

 13 Miscellaneous assets 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 13

 14 Net increase in liabilities 4.7 7.6 9.8 8.0 2.5 1.1 4.2 4.0 16.9 29.0 14

 15 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 2.1 4.7 15

 16 Credit market instruments 1.3 5.7 8.0 3.5 2.1 0.8 0.9 -0.4 1.7 10.2 16

 17 Open market paper 0.1 0.3 0.4 -0.1 -0.2 -0.2 -0.0 -0.0 -0.3 -0.6 17

 18 Corporate bonds 0.9 4.8 6.8 1.8 1.0 0.1 -0.1 0.3 -1.4 -1.6 18

 19 Depository institution loans n.e.c. 0.3 0.3 0.5 1.6 1.0 0.3 0.6 -1.3 -0.2 2.5 19

 20 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 20

 21 Corporate equity issues 3.2 1.8 1.4 2.2 1.8 1.3 1.6 2.0 13.2 11.1 21

 22 Miscellaneous liabilities 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 22

 23 Discrepancy 1.1 2.6 0.5 2.2 -0.8 1.4 2.0 0.7 9.1 19.7 23

 Memo:

 24 Securitized assets included above 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -0.7 -1.7 -3.6 24

 25 Agency- and GSE-backed securities 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -1.3 -2.3 -5.0 25

 26 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.6 1.4 26

 27 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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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Historical Annuals, 1985-1994, March 12, 2015 41

F.128.e Equity Real Estate Investment Trusts

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 2.7 3.9 7.5 4.4 2.1 -2.2 0.2 -1.1 1.4 -0.9 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 1.4 0.0 0.5 0.9 -0.2 -0.4 -0.4 0.3 -0.2 1.3 3

 4 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 4

 5 Mortgages 1.4 0.0 0.5 0.9 -0.2 -0.4 -0.4 0.2 -0.3 1.2 5

 6 Home 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.0 0.0 0.1 6

 7 Multifamily residential 0.1 0.0 0.1 0.2 -0.0 -0.1 -0.1 0.0 -0.1 0.1 7

 8 Commercial 1.2 0.0 0.4 0.7 -0.1 -0.3 -0.3 0.2 -0.2 1.0 8

 9 Miscellaneous assets 1.3 3.9 7.0 3.5 2.3 -1.8 0.6 -1.5 1.7 -2.2 9

 10 Net increase in liabilities 1.3 5.2 7.5 5.2 0.7 -0.2 2.3 1.8 3.3 15.9 10

 11 Credit market instruments 1.0 4.3 6.2 3.2 2.0 0.9 0.9 -0.4 2.3 10.9 11

 12 Corporate bonds 0.7 3.8 5.4 1.4 0.8 0.0 -0.1 0.2 -1.1 -1.2 12

 13 Depository institution loans n.e.c. 0.3 0.3 0.5 1.5 0.9 0.3 0.6 -1.2 -0.2 2.3 13

 14 Mortgages 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 14

 15 Multifamily residential 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 1.2 3.2 15

 16 Commercial 0.0 0.2 0.2 0.2 0.2 0.4 0.3 0.4 2.4 6.6 16

 17 Miscellaneous liabilities 0.3 0.8 1.3 2.1 -1.4 -1.1 1.4 2.2 1.0 5.0 17

F.128.m Mortgage Real Estate Investment Trusts

Billions of dollars

 1 Net acquisition of financial assets 0.2 0.6 0.9 0.6 0.1 -0.0 0.3 0.2 0.4 2.0 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 1.2 5.0 7.0 3.4 0.7 -1.4 -0.2 1.0 0.6 -2.1 3

 4 Agency- and GSE-backed securities 0.2 5.0 6.5 2.5 0.9 -1.1 0.1 -0.7 -0.3 -6.4 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.9 0.1 0.8 5

 6 Mortgages 1.1 -0.0 0.5 0.8 -0.2 -0.3 -0.3 0.9 0.8 3.5 6

 7 Home 0.1 -0.0 0.0 0.1 -0.0 -0.0 -0.1 0.8 1.1 2.8 7

 8 Multifamily residential 0.3 0.0 0.2 0.3 -0.1 -0.1 -0.1 0.0 -0.2 0.2 8

 9 Commercial 0.7 0.0 0.3 0.4 -0.1 -0.2 -0.2 0.1 -0.1 0.6 9

 10 Miscellaneous assets -1.1 -4.3 -6.0 -2.7 -0.6 1.4 0.5 -0.8 -0.2 4.0 10

 11 Net increase in liabilities 0.2 0.6 0.9 0.6 0.1 -0.0 0.3 0.2 0.4 2.0 11

 12 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 2.1 4.7 12

 13 Credit market instruments 0.3 1.4 1.8 0.4 0.1 -0.2 -0.0 -0.0 -0.6 -0.7 13

 14 Open market paper 0.1 0.3 0.4 -0.1 -0.2 -0.2 -0.0 -0.0 -0.3 -0.6 14

 15 Corporate bonds 0.2 1.0 1.4 0.4 0.2 0.0 -0.0 0.1 -0.3 -0.3 15

 16 Depository institution loans n.e.c. 0.0 0.0 0.0 0.1 0.1 0.0 0.0 -0.1 -0.0 0.2 16

 17 Miscellaneous liabilities -0.2 -0.7 -0.9 0.3 -0.0 0.1 0.3 -1.6 -1.1 -2.1 17

 Memo:

 18 Securitized assets included above 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -0.7 -1.7 -3.6 18

 19 Agency- and GSE-backed securities 0.1 4.5 6.3 1.6 0.7 -0.0 -0.3 -1.3 -2.3 -5.0 19

 20 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.6 1.4 20

 21 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22
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42 Historical Annuals, 1985-1994, March 12, 2015

F.129 Security Brokers and Dealers

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 3.4 3.1 5.6 4.9 5.1 8.3 6.0 7.2 8.0 7.0 1

 2 Fixed nonresidential investment 9.4 11.2 12.8 13.9 14.8 13.0 12.3 5.8 11.2 8.6 2

 3 Net acquisition of financial assets 71.1 73.8 -36.9 45.4 105.9 6.1 91.6 137.9 180.2 -27.2 3

 4 Checkable deposits and currency 2.4 2.2 -1.4 1.9 0.4 0.5 -0.1 0.2 1.9 -0.3 4

 5 Security repurchase agreements 33.5 45.2 25.6 47.4 5.2 -19.5 21.2 88.7 83.1 -3.1 5

 6 Credit market instruments 4.1 8.1 -35.0 -16.3 80.2 2.8 17.5 -1.3 14.8 -44.2 6

 7 Open market paper -2.8 -2.0 -1.5 0.6 3.0 0.6 -4.4 1.2 -0.3 -3.7 7

 8 Treasury securities -16.2 8.1 -25.7 -30.7 68.9 -14.2 -1.6 -13.3 -20.7 -14.4 8

 9 Agency- and GSE-backed securities 4.9 4.9 4.9 4.9 4.9 19.6 10.0 -1.0 7.8 -15.8 9

 10 Municipal securities 8.9 -3.3 -8.4 -0.8 -0.4 0.8 1.6 1.9 5.8 -1.7 10

 11 Corporate and foreign bonds 9.2 0.3 -4.4 9.8 3.7 -4.0 12.0 10.0 22.2 -8.7 11

 12 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate equities 2.6 1.4 -7.1 0.1 -1.9 -3.3 2.4 -0.6 8.1 -3.4 13

 14 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 14

 15 U.S. direct investment abroad 0.1 -0.0 1.7 -0.7 0.0 0.3 0.5 1.2 1.0 -3.9 15

 16 Miscellaneous assets 9.6 10.3 -4.4 11.1 23.0 29.0 33.8 51.4 48.6 28.7 16

 17 Net increase in liabilities 68.8 72.4 -30.2 42.5 102.1 11.9 85.4 133.5 191.4 -20.5 17

 18 Security repurchase agreements 26.5 56.2 -11.3 31.7 95.8 0.1 45.2 125.5 108.0 -23.4 18

 19 Credit market instruments 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 19

 20 Corporate bonds 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 20

 21 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Corporate equity issues 2.5 2.2 6.3 -1.2 -3.0 3.4 -5.7 -1.9 1.3 4.7 22

 23 Trade payables 2.5 -0.4 -0.8 1.7 -0.5 -1.9 0.7 0.6 2.7 -0.9 23

 24 Security credit 29.6 4.0 -24.0 4.0 12.1 4.5 36.9 -6.7 33.9 -1.7 24

 25 From households 21.9 9.2 -18.8 4.0 10.2 9.6 30.6 -9.9 26.8 3.4 25

 26 From U.S.-chartered depository institutions 4.6 -5.5 -2.3 0.0 2.0 -5.4 2.0 2.0 6.1 -3.9 26

 27 From foreign banking offices in U.S. 3.1 0.3 -2.8 -0.1 -0.1 0.3 4.3 1.2 1.0 -1.3 27

 28 Taxes payable 0.3 0.2 -0.6 0.1 0.1 0.1 0.2 0.0 0.5 -0.2 28

 29 Foreign direct investment in U.S. -0.3 0.6 2.1 0.9 1.4 0.1 2.0 0.0 16.5 0.9 29

 30 Miscellaneous liabilities 7.2 6.4 -1.0 0.9 -8.3 4.9 2.0 13.1 15.5 0.8 30

 31 Investment by parent companies 8.6 3.4 13.9 26.9 7.9 -13.0 4.9 16.5 25.2 16.7 31

 32 Other -1.4 2.9 -14.9 -26.0 -16.1 17.9 -2.9 -3.5 -9.7 -15.9 32

 33 Proprietors’ net investment 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 33

 34 Discrepancy -8.2 -9.5 -0.5 -12.0 -13.4 1.0 -12.5 -3.0 8.0 5.1 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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Historical Annuals, 1985-1994, March 12, 2015 43

F.130 Holding Companies (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross saving 15.9 14.5 14.6 18.0 20.1 21.8 22.3 21.3 28.6 36.7 1

 2 Fixed nonresidential investment 15.3 15.0 15.3 16.2 17.4 16.6 15.3 16.6 15.5 15.4 2

 3 Net acquisition of financial assets 32.4 31.3 27.3 21.4 19.8 -13.6 3.2 34.7 44.3 31.2 3

 4 Time and savings deposits 0.3 0.2 -1.9 0.3 0.1 -14.4 -2.2 -0.9 -0.1 -0.4 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.4 1.0 -0.1 -0.5 0.2 5

 6 Credit market instruments 3.7 -0.3 2.0 -0.1 2.8 -2.8 -1.5 5.6 -0.0 0.9 6

 7 Treasury securities 0.3 -0.1 0.1 0.0 0.1 -0.2 0.3 5.1 -0.8 -0.7 7

 8 Agency- and GSE-backed securities 1.0 -0.4 0.3 0.0 0.3 -0.5 0.5 -0.2 0.9 1.7 8

 9 Corporate and foreign bonds 3.1 -1.3 1.0 0.1 0.8 -1.9 -0.5 0.3 1.7 -0.1 9

 10 Other loans and advances -0.7 1.5 0.5 -0.3 1.6 -0.2 -1.9 0.4 -1.8 -0.1 10

 11 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Miscellaneous assets 28.5 31.4 27.3 21.1 16.9 3.2 5.9 30.2 44.9 30.6 12

 13 Net trans. with depository institution subs. 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 13

 14 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net trans. with life insurance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net trans. with finance company subs. 12.8 8.3 -5.3 -19.6 -1.9 -4.1 -6.4 -0.0 6.4 4.0 16

 17 Net trans. with broker and dealer subs. 0.1 0.1 11.5 20.1 8.0 -18.5 -5.8 -2.6 8.0 0.7 17

 18 Net trans. with foreign subs. 0.5 -1.3 -3.5 -1.7 -1.8 -0.4 5.7 -5.8 2.3 7.8 18

 19 Other -0.1 6.3 1.3 -0.7 2.2 8.9 -2.2 1.8 -1.8 2.5 19

 20 Net increase in liabilities 23.8 24.8 21.4 13.1 10.3 -24.1 -7.1 26.1 28.9 8.2 20

 21 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -0.1 0.0 21

 22 Credit market instruments 17.7 11.4 15.0 4.9 5.3 -30.6 -6.1 -0.1 9.6 13.5 22

 23 Commercial paper 2.2 -3.3 1.5 -0.2 4.4 -18.7 -5.8 -3.9 5.2 5.9 23

 24 Corporate bonds 14.4 13.9 12.8 5.4 1.9 -9.0 3.3 6.1 3.6 4.3 24

 25 Depository institution loans n.e.c. 1.1 0.7 0.7 -0.3 -0.9 -2.9 -3.6 -2.4 0.8 3.3 25

 26 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 6.9 14.7 15.9 5.4 -5.1 26

 27 Miscellaneous liabilities 6.1 13.4 6.4 8.2 5.0 -0.3 -15.8 10.2 14.0 -0.3 27

 28 Equity, etc. 5.7 -2.0 5.2 7.3 0.6 3.3 4.4 22.2 21.6 -8.1 28

 29 Other 0.3 15.5 1.2 0.9 4.4 -3.7 -20.2 -12.0 -7.6 7.8 29

 30 Discrepancy -8.0 -7.0 -6.7 -6.5 -6.7 -5.3 -3.3 -3.9 -2.2 -1.7 30

(1) Parent-only bank holding companies and savings and loan holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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44 Historical Annuals, 1985-1994, March 12, 2015

F.131 Funding Corporations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net acquisition of financial assets 71.1 10.9 19.6 31.6 15.7 9.7 32.7 59.1 -2.4 17.7 1

 2 Money market fund shares 0.7 2.6 2.2 4.0 8.0 16.1 17.5 26.8 14.9 13.1 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 59.7 0.8 7.8 8.0 5.2 -10.0 5.1 9.2 -27.9 -11.0 4

 5 Open market paper 59.7 0.8 7.8 8.0 5.2 -10.0 5.1 9.2 -31.9 -21.0 5

 6 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 10.0 6

 7 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 9

 10 Investment in foreign banking offices 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 10

 11 Investment in brokers and dealers 8.5 3.4 2.4 6.8 -0.2 5.4 10.7 19.2 17.2 16.1 11

 12 Net increase in liabilities 71.1 10.9 19.6 31.6 15.7 9.7 32.7 59.1 -2.4 17.7 12

 13 Credit market instruments 10.7 12.0 9.7 38.0 12.5 16.8 -4.0 16.2 6.3 23.1 13

 14 Open market paper 8.6 10.6 7.0 39.1 13.8 14.0 -10.9 4.5 -7.3 3.0 14

 15 Corporate bonds 2.1 1.4 2.7 -1.1 -1.3 2.9 6.9 11.7 13.6 20.0 15

 16 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate equities (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Foreign direct investment in U.S. 0.0 -4.4 -0.1 -18.5 -10.0 -13.2 14.2 6.9 4.3 -7.5 19

 20 Miscellaneous liabilities 60.4 3.4 10.0 12.1 13.2 6.1 22.5 36.0 -13.0 2.1 20

 21 Securities loaned (net) 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 21

 22 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other (net) 58.9 -1.7 6.9 4.0 -2.9 -26.0 -9.0 -14.6 -56.6 -22.5 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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Historical Annuals, 1985-1994, March 12, 2015 45

F.132 Rest of the World

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Foreign income from U.S. 530.2 575.0 641.3 712.4 774.3 815.6 755.4 830.7 888.9 1020.2 1

 2 U.S. imports 417.2 452.9 508.7 554.0 591.0 629.7 623.5 667.8 720.0 813.4 2

 3 U.S. income payments to rest of world 87.3 94.4 105.8 129.5 152.9 154.2 136.8 121.0 123.6 160.7 3

 4 Current taxes and trans. payments to rest of world 25.7 27.8 26.8 29.0 30.4 31.7 -4.9 41.9 45.4 46.1 4

 5 Foreign outlays to U.S. 415.9 432.3 487.2 596.7 682.0 740.7 763.3 785.1 810.4 905.5 5

 6 U.S. exports 303.2 321.0 363.9 444.6 504.3 551.9 594.9 633.1 654.8 720.9 6

 7 U.S. income receipts from rest of world 112.7 111.3 123.3 152.1 177.7 188.8 168.4 152.1 155.6 184.5 7

 8 - Net capital transfers paid (1) -0.1 -0.1 -0.1 -0.1 -0.3 -7.4 -5.3 1.3 -0.8 -1.2 8

 9 Gross saving less net capital transfers paid (2) 114.4 142.8 154.2 115.9 92.7 82.3 -2.6 44.3 79.4 115.9 9

 10 Gross investment 81.6 109.7 137.3 147.9 44.5 58.5 0.7 89.9 68.2 123.0 10

 11 Nonproduced nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 11

 12 Net lending (+) or net borrowing (-) 81.6 109.7 137.3 147.9 44.5 58.5 0.7 89.9 68.2 123.1 12

 13 Net acquisition of financial assets 113.6 166.7 175.7 180.2 148.0 142.4 61.7 172.7 272.5 287.6 13

 14 Monetary gold (3) 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 14

 15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net interbank assets 13.0 0.2 35.6 8.0 -33.5 4.0 2.0 17.8 13.5 84.6 16

 17 U.S. checkable deposits and currency 4.8 5.1 2.5 3.6 3.9 16.3 11.4 12.6 16.4 22.4 17

 18 U.S. time deposits 3.2 -2.5 0.9 3.4 6.2 -0.7 -0.2 8.4 23.2 11.7 18

 19 Money market fund shares 0.0 0.0 0.0 0.0 0.4 0.8 0.8 0.8 0.8 0.8 19

 20 Security repurchase agreements 0.8 3.4 2.2 -0.1 10.1 -3.4 1.2 20.9 16.9 -12.0 20

 21 Credit market instruments 67.4 105.7 60.9 108.4 81.3 87.3 15.5 97.2 129.3 132.3 21

 22 Open market paper -0.2 -0.1 1.0 2.8 0.8 -2.0 0.6 1.6 5.9 6.0 22

 23 Treasury securities 19.6 38.2 35.6 62.0 29.8 27.0 33.7 55.6 73.3 65.0 23

 24 Treasury bills -7.2 21.3 11.3 13.3 -24.0 5.7 13.9 16.9 49.1 -13.8 24

 25 Other Treasury securities 26.8 16.9 24.3 48.7 53.7 21.3 19.7 38.7 24.2 78.8 25

 26 Agency- and GSE-backed securities 4.3 7.0 5.0 6.7 15.1 6.3 10.2 18.3 35.4 21.7 26

 27 Municipal securities 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 27

 28 U.S. corporate bonds (4) 36.1 38.9 18.6 14.7 13.1 5.8 18.2 16.6 30.2 37.8 28

 29 Loans to U.S. corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 29

 30 U.S. corporate equities 4.4 17.9 15.0 -2.9 8.6 -16.7 3.8 -17.5 10.4 -11.5 30

 31 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 5.9 11.1 9.8 11.6 31

 32 Trade receivables 0.2 1.4 0.1 2.1 2.6 6.3 -1.8 1.7 1.0 1.5 32

 33 Foreign direct investment in U.S. (5) 19.7 35.4 58.5 57.7 68.3 48.5 23.2 19.8 51.4 46.1 33

 34 Net increase in liabilities 31.9 57.0 38.4 32.3 103.5 83.9 61.0 82.8 204.3 164.5 34

 35 U.S. official reserve assets 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 35

 36 U.S. private deposits 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 36

 37 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Credit market instruments 1.2 10.2 11.4 -4.4 -7.9 11.1 13.4 16.4 67.5 -23.2 38

 39 Commercial paper 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 39

 40 Bonds 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 40

 41 Depository institution loans n.e.c. -2.8 -0.5 1.6 -13.6 -18.2 -15.7 1.4 -5.4 -1.6 -10.6 41

 42 Other loans and advances -6.0 -3.9 -1.4 -6.4 -7.6 -7.0 -9.8 -0.6 -4.2 -1.4 42

 43 Foreign corporate equities (6) 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 43

 44 Trade payables -0.7 0.0 0.6 1.6 1.7 1.6 1.9 1.2 2.8 2.6 44

 45 U.S. direct investment abroad (4,5) 14.8 19.1 31.2 16.1 38.8 32.8 39.1 44.5 84.0 80.2 45

 46 Miscellaneous liabilities 1.9 -0.8 -2.1 -0.7 -0.7 1.0 8.2 -4.3 3.8 9.4 46

 47 U.S. equity in IBRD, etc. 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 47

 48 Nonofficial foreign currencies -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 48

 49 Investment by holding companies 0.5 -1.3 -3.5 -1.7 -1.8 -0.4 5.7 -5.8 2.3 7.8 49

 50 Discrepancy (FOF basis) 32.8 33.1 16.9 -32.1 48.2 23.8 -3.3 -45.6 11.2 -7.1 50

 Memo:

 51 Net U.S. exports, NIPA basis -114.0 -131.9 -144.8 -109.4 -86.7 -77.9 -28.6 -34.7 -65.2 -92.5 51

 52 + Net U.S. income receipts (7) 25.4 17.0 17.5 22.7 24.8 34.7 31.6 31.1 32.0 23.9 52

 53 - Current taxes and trans. payments to rest of world 25.7 27.8 26.8 29.0 30.4 31.7 -4.9 41.9 45.4 46.1 53

 54 = Balance on current account, NIPAs -114.3 -142.7 -154.1 -115.7 -92.4 -74.9 7.9 -45.6 -78.5 -114.7 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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46 Historical Annuals, 1985-1994, March 12, 2015

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 1

 2 Federal government: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Rest of the world 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 3

 4 SDR holdings 0.9 0.2 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 4

 5 Reserve position in IMF -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.0 -0.5 5

 6 Other reserves 3.9 0.9 -7.6 5.1 25.2 2.7 -6.3 -4.3 0.8 -5.3 6

 7 Net change in assets 3.9 -0.3 -9.1 3.9 25.3 2.2 -5.8 -3.9 1.4 -5.3 7

 8 Federal government 1.9 -0.7 -5.4 1.4 12.7 0.8 -2.6 -1.7 1.0 -2.7 8

 9 Monetary gold (2) 0.0 0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 9

 10 SDR holdings 0.9 0.2 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 10

 11 Reserve position in IMF -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.1 -0.5 11

 12 Other reserves 1.9 0.5 -3.8 2.5 12.6 1.3 -3.2 -2.1 0.4 -2.6 12

 13 Rest of the world 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Monetary gold (2) 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 14

 15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Monetary authority 2.0 0.4 -3.8 2.5 12.6 1.3 -3.2 -2.2 0.4 -2.6 16

 17 Monetary gold (2) -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 17

 18 Reserve position in IMF 0.0 -0.0 -0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 0.0 18

 19 Other reserves 1.9 0.5 -3.8 2.5 12.6 1.3 -3.2 -2.1 0.4 -2.6 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 1

 2 Asset: Monetary authority 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 3

 4 Asset: Monetary authority 0.6 0.5 0.6 0.6 0.8 0.8 0.6 0.4 0.6 0.9 4

 5 Discrepancy (seigniorage) -0.2 -0.0 -0.1 -0.1 -0.3 0.2 -0.6 -0.2 -0.2 -0.2 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 1

 Held by:

 2 Household sector 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 2

 3 Nonfinancial corporate business 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 3

 4 Money market mutual funds -2.2 3.1 -0.6 7.9 -3.2 0.6 -5.3 -1.2 -10.3 5.7 4

 5 Discrepancy--unallocated assets 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 5
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Historical Annuals, 1985-1994, March 12, 2015 47

F.203 Net Interbank Transactions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 19.0 3.2 32.4 5.5 -42.1 8.8 5.7 15.3 20.4 91.7 1

 2 Monetary authority 8.1 19.6 -7.1 0.3 0.1 4.3 -8.2 0.9 3.7 1.3 2

 3 U.S.-chartered depository institutions 15.6 -16.4 32.6 -3.5 -21.9 11.5 32.4 3.4 18.9 72.4 3

 4 Foreign banking offices in U.S. 1.5 7.7 6.5 4.9 -22.8 -6.6 -13.7 12.0 -3.9 9.6 4

 5 Banks in U.S.-affiliated areas -0.4 0.1 0.8 0.6 0.4 0.1 0.8 0.5 0.3 -0.4 5

 6 Credit unions -5.7 -7.8 -0.4 3.3 2.1 -0.4 -5.6 -1.5 1.4 8.9 6

 7 Net change in assets 20.6 18.6 30.3 7.1 -35.2 9.1 -7.7 21.7 14.2 84.4 7

 8 Monetary authority -0.4 -1.2 1.8 -1.2 -1.8 0.8 -1.5 3.0 -2.9 -1.5 8

 9 U.S.-chartered depository institutions 7.4 19.0 -6.7 1.4 0.1 4.1 -8.0 1.2 3.3 1.3 9

 10 Foreign banking offices in U.S. 0.7 0.6 -0.4 -1.1 -0.0 0.2 -0.3 -0.3 0.3 -0.0 10

 11 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Rest of the world 13.0 0.2 35.6 8.0 -33.5 4.0 2.0 17.8 13.5 84.6 12

 13 Discrepancy -1.6 -15.3 2.1 -1.6 -6.9 -0.2 13.4 -6.4 6.2 7.4 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 14

 15 Asset: U.S.-chartered depository institutions 1.3 0.1 -0.8 2.7 1.1 3.9 1.0 -1.7 0.8 5.5 15

 16 Foreign banking offices in U.S. -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority 6.8 19.5 -6.3 -2.4 -1.0 0.3 -9.2 2.7 2.9 -4.2 17

 18 Asset: U.S.-chartered depository institutions 6.1 18.9 -5.9 -1.3 -1.0 0.2 -9.0 3.0 2.5 -4.1 18

 19 Foreign banking offices in U.S. 0.7 0.6 -0.4 -1.1 -0.0 0.2 -0.3 -0.3 0.3 -0.0 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions -0.4 -1.2 1.8 -1.2 -1.8 0.8 -1.5 3.0 -2.9 -1.5 21

 22 Asset: Monetary authority -0.4 -1.2 1.8 -1.2 -1.8 0.8 -1.5 3.0 -2.9 -1.5 22

 23 Federal Reserve float 0.1 0.3 -0.5 0.5 -0.2 1.1 -1.5 2.5 -2.3 -1.6 23

 24 Loans -0.5 -1.5 2.3 -1.6 -1.7 -0.3 0.0 0.5 -0.6 0.1 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) 7.8 -6.7 30.8 3.8 -9.5 6.3 3.0 -4.3 16.4 70.5 25

 26 Due to foreign affiliates 10.3 -8.0 15.0 13.3 -12.4 13.9 8.5 -8.5 7.2 57.9 26

 27 - Due from foreign affiliates 2.6 -1.3 -15.8 9.5 -2.9 7.6 5.5 -4.2 -9.2 -12.6 27

 28 Foreign banking offices in U.S. (net) 0.5 5.4 3.0 2.6 -24.4 -4.2 2.7 19.5 -3.0 15.7 28

 29 Due to foreign affiliates 7.4 51.7 25.0 28.0 -1.9 0.7 25.4 1.7 -19.8 10.1 29

 30 - Due from foreign affiliates 6.9 46.3 22.0 25.3 22.5 4.9 22.7 -17.8 -16.8 -5.7 30

 31 Less: Deposits at foreign banks -4.7 -1.5 -1.8 -1.6 -0.5 -1.9 3.7 -2.5 -0.0 1.6 31

 32 U.S.-chartered depository institutions -2.0 -1.3 -1.9 -0.5 -2.1 -1.1 3.0 -1.8 0.6 -0.4 32

 33 Foreign banking offices in U.S. -2.7 -0.2 0.0 -1.1 1.6 -0.9 0.7 -0.8 -0.6 2.0 33

 34 Plus: Loans from foreign banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 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 35

 36 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 36

 37 Asset: Rest of the world (1) 13.0 0.2 35.6 8.0 -33.5 4.0 2.0 17.8 13.5 84.6 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) 6.2 -9.7 -1.9 -6.7 -12.6 3.3 33.9 2.9 6.0 3.0 38

 39 Due to (3): 6.8 11.0 8.9 -1.1 6.8 1.2 24.7 -3.7 2.0 7.1 39

 40 Foreign banking offices in U.S. 2.3 18.7 7.2 4.4 16.2 1.2 6.5 1.7 -2.5 8.2 40

 41 Banks in U.S.-affiliated areas 0.4 -0.1 -0.8 -0.6 -0.4 -0.1 -0.8 -0.5 -0.3 0.4 41

 42 Credit unions 5.7 7.8 0.4 -3.3 -2.1 0.4 5.6 1.5 -1.4 -8.9 42

 43 - Due from: Foreign banking offices in U.S. 0.6 20.7 10.8 5.6 19.4 -2.1 -9.2 -6.6 -4.0 4.1 43

 44 Unallocated (2) -1.6 -15.3 2.1 -1.6 -6.9 -0.2 13.4 -6.4 6.2 7.4 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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48 Historical Annuals, 1985-1994, March 12, 2015

F.204 Checkable Deposits and Currency

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 1

 2 Monetary authority 16.6 13.3 16.7 17.6 10.2 24.2 30.7 16.2 37.2 25.8 2

 3 Federal government cash and deposits 4.1 -1.9 -2.3 3.3 -2.4 2.8 8.8 -10.3 7.2 -7.7 3

 4 Due to government-sponsored enterprises 0.0 0.9 0.1 -0.5 0.7 -1.1 1.5 -1.4 0.0 0.5 4

 5 Deposits due to foreign 0.1 -0.1 -0.1 0.1 0.2 -0.2 0.6 -0.7 0.2 -0.1 5

 6 Currency outside banks 12.4 14.4 19.0 14.8 11.7 22.6 19.8 28.7 29.8 33.1 6

 7 U.S.-chartered depository institutions 61.6 110.3 -13.8 22.6 -4.7 17.3 54.9 91.4 78.1 -40.1 7

 8 Federal government deposits 10.3 1.7 -5.8 7.3 -3.4 5.3 5.5 -5.9 12.1 -18.9 8

 9 Deposits due to foreign 0.0 2.7 -1.4 -0.6 0.1 -0.4 -2.2 1.7 -0.3 1.6 9

 10 Private domestic deposits 51.4 106.0 -6.5 15.8 -1.4 12.3 51.6 95.6 66.3 -22.8 10

 11 Foreign banking offices in U.S. 2.1 0.9 -0.6 1.0 -0.3 0.4 0.2 -0.6 0.0 0.4 11

 12 Deposits due to foreign 1.3 0.1 0.2 -0.0 -0.1 0.3 0.2 0.5 -0.1 0.4 12

 13 Private domestic deposits 0.8 0.8 -0.8 1.0 -0.1 0.1 -0.0 -1.1 0.2 0.0 13

 14 Banks in U.S.-affiliated areas 0.3 0.4 -0.0 0.3 0.5 -0.7 -0.2 0.6 0.3 0.1 14

 15 Credit unions 3.1 0.4 1.7 0.8 1.3 1.5 2.2 4.5 1.7 2.0 15

 16 Net change in assets 83.8 125.4 4.0 42.3 7.0 42.6 87.8 112.1 117.3 -11.8 16

 17 Household sector 17.8 117.1 -0.7 -0.4 1.7 -11.4 54.2 111.4 51.1 -31.2 17

 18 Nonfinancial business 37.5 4.1 10.4 18.6 10.3 8.4 9.1 1.2 23.8 24.2 18

 19 Corporate 23.2 1.5 9.6 14.0 9.1 6.1 6.9 -4.2 20.6 11.8 19

 20 Noncorporate 14.2 2.6 0.9 4.6 1.2 2.2 2.1 5.4 3.2 12.3 20

 21 Federal government 13.0 0.4 -8.1 9.0 -14.2 4.8 27.4 -16.9 20.7 -21.7 21

 22 State and local governments 1.1 2.5 -0.8 3.0 0.4 -1.3 6.4 1.2 1.9 1.8 22

 23 Domestic financial sectors 7.5 5.8 0.2 6.0 -1.2 14.0 -12.2 0.4 6.1 0.3 23

 24 Property-casualty insurance companies 1.2 1.3 -0.1 -0.1 0.6 0.5 -1.1 0.2 -0.4 -0.2 24

 25 Life insurance companies 0.5 0.7 -0.9 -0.3 0.5 -0.1 0.5 -0.6 0.4 0.4 25

 26 Private pension funds -0.0 -1.4 -0.2 2.9 -0.4 -0.8 -0.3 -0.0 0.2 0.9 26

 27 State and local govt. retirement funds 0.3 0.7 1.8 -0.5 -1.2 1.8 -1.1 2.7 0.1 0.1 27

 28 Money market mutual funds 1.4 -0.2 -0.3 1.0 -0.6 11.1 -11.5 -2.4 1.4 -1.3 28

 29 Government-sponsored enterprises 0.8 1.5 -0.1 -0.0 -1.3 -0.2 -0.9 -0.0 0.9 -0.8 29

 30 Finance companies 1.0 0.9 1.4 1.2 0.8 1.2 2.3 0.4 1.5 1.4 30

 31 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Brokers and dealers 2.4 2.2 -1.4 1.9 0.4 0.5 -0.1 0.2 1.9 -0.3 32

 33 Rest of the world 4.8 5.1 2.5 3.6 3.9 16.3 11.4 12.6 16.4 22.4 33

 34 Checkable deposits 1.5 2.7 -1.4 -0.5 0.2 -0.3 -1.4 1.5 -0.3 1.8 34

 35 Currency 3.3 2.4 3.9 4.1 3.7 16.6 12.8 11.1 16.6 20.6 35

 36 Mail float 2.1 -9.5 0.4 2.5 6.2 11.8 -8.6 2.2 -2.8 -7.6 36
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Historical Annuals, 1985-1994, March 12, 2015 49

F.205 Time and Savings Deposits

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 157.4 151.4 151.3 184.2 128.7 2.7 -67.6 -128.1 -85.6 4.6 1

 2 Small time and savings deposits 140.3 130.0 77.1 122.5 99.0 64.0 1.6 -57.2 -70.3 -37.4 2

 3 U.S.-chartered depository institutions 119.4 101.1 65.2 110.4 90.5 48.4 -14.8 -73.3 -79.0 -42.6 3

 4 Foreign banking offices in U.S. 1.1 2.2 0.6 0.5 3.7 -1.0 -0.1 0.2 -0.8 -1.1 4

 5 Banks in U.S.-affiliated areas 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 5

 6 Credit unions 19.4 26.1 11.4 11.3 4.2 14.4 17.5 15.5 9.8 5.5 6

 7 Large time deposits (1) 17.1 21.4 74.2 61.7 29.7 -61.3 -69.2 -70.9 -15.3 42.1 7

 8 U.S.-chartered depository institutions 16.6 -5.4 46.9 45.1 7.3 -63.5 -110.1 -87.7 -22.9 21.0 8

 9 Foreign banking offices in U.S. -0.2 25.6 27.2 15.9 18.8 2.2 41.0 14.8 6.7 19.9 9

 10 Banks in U.S.-affiliated areas 0.3 0.5 -0.1 0.3 0.5 2.1 -1.0 0.4 -0.2 0.8 10

 11 Credit unions 0.3 0.7 0.3 0.4 3.1 -2.1 0.8 1.6 1.1 0.4 11

 12 Net change in assets 157.4 151.4 151.3 184.2 128.7 2.7 -67.6 -128.1 -85.6 4.6 12

 13 Household sector 137.6 122.6 147.0 167.3 85.6 50.1 -82.1 -114.9 -122.7 -24.6 13

 14 Nonfinancial business 5.7 17.9 -1.5 2.9 -0.3 -3.4 5.2 5.4 19.4 8.0 14

 15 Corporate 0.2 16.2 0.4 -3.7 -1.7 -6.0 3.0 -1.6 16.0 4.4 15

 16 Noncorporate 5.5 1.7 -1.9 6.6 1.4 2.7 2.2 7.0 3.4 3.6 16

 17 Federal government 0.0 0.2 0.2 -0.2 -0.1 0.1 0.1 -0.7 -0.1 -0.1 17

 18 State and local governments 7.0 2.3 7.1 -2.0 -2.8 -3.0 -11.1 -6.1 -1.5 6.4 18

 19 Domestic financial sectors 3.9 10.8 -2.3 12.9 40.1 -40.4 20.4 -20.2 -3.8 3.2 19

 20 Private pension funds 8.6 10.4 -10.8 10.9 27.5 -4.2 5.5 -17.1 -3.4 6.6 20

 21 State and local govt. retirement funds 1.4 -3.4 -4.7 1.9 2.0 -1.4 1.1 -1.9 -0.7 -3.6 21

 22 Money market mutual funds -6.7 2.7 14.5 -0.8 9.3 -21.1 13.2 -0.5 -2.8 -0.5 22

 23 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Finance companies 0.3 0.8 0.6 0.5 1.3 0.7 2.8 0.3 3.1 1.2 24

 25 Holding companies 0.3 0.2 -1.9 0.3 0.1 -14.4 -2.2 -0.9 -0.1 -0.4 25

 26 Rest of the world 3.2 -2.5 0.9 3.4 6.2 -0.7 -0.2 8.4 23.2 11.7 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Net issues 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 1

 2 Net purchases 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 2

 3 Household sector 3.3 41.9 20.8 17.0 78.1 38.3 18.3 -42.2 -2.1 9.6 3

 4 Nonfinancial corporate business -1.5 0.4 0.9 -5.5 0.0 9.3 4.5 13.5 -3.7 3.2 4

 5 Nonfinancial noncorporate business 0.0 0.1 -0.1 2.2 0.5 0.9 0.7 2.3 1.1 4.2 5

 6 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 6

 7 Property-casualty insurance companies 2.0 0.0 0.3 1.2 -0.0 1.1 -1.4 2.0 -0.3 -0.8 7

 8 Life insurance companies 2.1 0.9 -3.1 0.1 -0.8 2.2 0.1 0.1 0.1 0.1 8

 9 Private pension funds 2.1 1.9 1.8 2.0 2.9 -0.0 1.0 1.0 6.5 5.3 9

 10 State and local govt. retirement funds 1.4 0.3 0.3 0.3 0.5 0.0 0.2 0.2 1.0 0.8 10

 11 Funding corporations 0.7 2.6 2.2 4.0 8.0 16.1 17.5 26.8 14.9 13.1 11

 12 Rest of the world 0.0 0.0 0.0 0.0 0.4 0.8 0.8 0.8 0.8 0.8 12
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50 Historical Annuals, 1985-1994, March 12, 2015

F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 69.2 102.9 3.2 56.5 93.4 -30.4 20.3 137.8 128.1 39.6 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 U.S.-chartered depository institutions 32.2 42.1 17.7 16.0 -5.4 -45.0 -37.0 20.9 28.4 55.2 3

 4 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 4

 5 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 5

 6 Foreign banking offices in U.S. 10.4 4.7 -3.3 8.8 3.0 14.5 12.1 -10.6 -10.3 3.1 6

 7 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 7

 8 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 8

 9 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.9 2.1 4.7 13

 14 Brokers and dealers 26.5 56.2 -11.3 31.7 95.8 0.1 45.2 125.5 108.0 -23.4 14

 15 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -0.1 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 16

 17 Net change in assets 101.0 92.7 24.3 62.6 91.5 11.9 53.8 144.5 106.3 9.4 17

 18 Nonfinancial corporate business -0.5 1.7 -1.7 1.6 -2.2 -0.6 -0.5 3.4 -2.6 -0.3 18

 19 State and local governments 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 19

 20 Monetary authority 3.2 10.8 -11.0 1.9 -4.7 16.2 -2.5 -7.8 5.1 -2.6 20

 21 U.S.-chartered depository institutions 19.0 4.1 -10.3 -1.8 23.2 -1.8 -4.2 10.6 -11.5 -7.3 21

 22 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 22

 23 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 23

 24 Foreign banking offices in U.S. 0.2 5.2 1.0 3.0 -1.9 -0.7 8.3 10.1 12.4 8.4 24

 25 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 25

 26 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 26

 27 Credit unions 3.7 2.5 -1.6 0.1 3.1 2.1 -1.4 0.4 -5.1 -2.3 27

 28 Federal funds ND ND ND ND ND ND ND ND ND ND 28

 29 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 29

 30 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Private pension funds 8.3 1.7 -0.4 2.2 2.2 -1.3 3.7 0.2 0.9 -6.2 32

 33 State and local govt. retirement funds 2.5 3.3 3.0 -1.0 -0.5 2.5 6.6 5.8 -4.2 7.4 33

 34 Money market mutual funds 3.3 6.0 7.0 2.3 13.1 3.9 8.8 -1.0 0.4 2.4 34

 35 Mutual funds 0.1 1.5 0.8 1.3 -0.2 1.4 6.1 9.7 16.8 4.4 35

 36 Government-sponsored enterprises 6.0 2.5 -2.2 6.6 28.0 6.9 -1.1 -1.0 -16.2 35.4 36

 37 Of which: FHLB federal funds (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Brokers and dealers 33.5 45.2 25.6 47.4 5.2 -19.5 21.2 88.7 83.1 -3.1 38

 39 Holding companies 0.0 0.0 0.0 0.0 0.0 0.4 1.0 -0.1 -0.5 0.2 39

 40 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world 0.8 3.4 2.2 -0.1 10.1 -3.4 1.2 20.9 16.9 -12.0 41

 42 Discrepancy -31.9 10.2 -21.1 -6.1 1.9 -42.2 -33.5 -6.7 21.8 30.2 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations: (4)

 43 Liability: Monetary authority (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Asset: Money market mutual funds (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Other financial institutions (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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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Historical Annuals, 1985-1994, March 12, 2015 51

F.208 Open Market Paper

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total net issues, all types 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 1

 2 Commercial paper 62.2 32.2 26.8 78.2 70.1 36.0 -29.7 17.0 2.5 38.6 2

 3 Nonfinancial corporate business 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 3

 4 Foreign issues in U.S. 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 4

 5 Nonfinancial 1.5 2.2 2.4 -0.6 4.3 4.3 5.5 4.5 -3.1 -12.3 5

 6 Financial 4.7 9.3 1.4 9.3 8.7 8.1 1.2 1.1 -6.5 -13.9 6

 7 Domestic financial sectors 41.4 30.1 21.3 57.6 35.6 13.9 -18.1 2.8 2.1 43.3 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 0.9 0.9 1.8 1.7 8.9 15.7 7.3 8.1 4.7 12.4 9

 10 Finance companies 29.6 21.6 10.7 17.1 8.7 3.1 -8.6 -6.0 -0.1 22.5 10

 11 REITs 0.1 0.3 0.4 -0.1 -0.2 -0.2 -0.0 -0.0 -0.3 -0.6 11

 12 Holding companies 2.2 -3.3 1.5 -0.2 4.4 -18.7 -5.8 -3.9 5.2 5.9 12

 13 Funding corporations 8.6 10.6 7.0 39.1 13.8 14.0 -10.9 4.5 -7.3 3.0 13

 14 Bankers’ acceptances (1) -9.4 -5.9 5.6 -2.7 -4.2 -5.3 -14.3 -3.9 -7.7 -2.9 14

 15 U.S.-chartered depository institutions -10.9 -8.7 -1.0 -3.3 -5.3 -4.4 -4.7 -0.1 -2.5 -0.3 15

 16 Foreign banking offices in U.S. 1.5 2.8 6.6 0.5 1.0 -0.9 -9.6 -3.8 -5.1 -2.6 16

 17 Net purchases, by sector 52.8 26.4 32.3 75.4 65.9 30.7 -44.0 13.1 -5.1 35.7 17

 18 Household sector -9.2 -0.3 -0.8 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 18

 19 Nonfinancial corporate business 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 19

 20 State and local governments 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 20

 21 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S.-chartered depository institutions (1) -3.4 0.8 0.4 0.2 -1.3 0.8 -0.4 -2.3 -1.3 -1.5 22

 23 Foreign banking offices in U.S. (1) 0.3 -0.2 1.2 -0.5 0.4 2.0 -1.0 0.2 -0.9 -0.2 23

 24 Credit unions 0.1 0.6 -0.3 0.4 0.3 1.2 0.3 0.4 -0.7 -0.1 24

 25 Property-casualty insurance companies 2.9 0.1 0.4 1.6 -0.0 1.6 -2.0 2.8 -0.4 -1.1 25

 26 Life insurance companies -0.2 5.4 -0.4 5.1 3.6 2.9 0.0 -2.5 3.6 5.9 26

 27 Private pension funds 2.4 4.0 7.2 -6.3 -1.2 -0.9 3.5 0.0 0.8 -6.2 27

 28 State and local govt. retirement funds 2.5 3.6 3.0 -0.9 0.0 3.0 6.4 5.6 -4.3 7.4 28

 29 Money market mutual funds 1.1 6.1 5.7 17.4 57.0 19.5 -13.4 -17.0 -9.1 22.7 29

 30 Mutual funds -0.5 7.9 3.6 9.1 -0.6 3.7 -16.3 9.7 16.8 4.4 30

 31 Government-sponsored enterprises -0.6 -0.0 -0.0 0.4 2.9 0.5 7.1 2.7 -1.7 14.4 31

 32 Brokers and dealers -2.8 -2.0 -1.5 0.6 3.0 0.6 -4.4 1.2 -0.3 -3.7 32

 33 Funding corporations 59.7 0.8 7.8 8.0 5.2 -10.0 5.1 9.2 -31.9 -21.0 33

 34 Rest of the world -0.2 -0.1 1.0 2.8 0.8 -2.0 0.6 1.6 5.9 6.0 34

(1) Excludes banks’ holdings of own acceptances.
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52 Historical Annuals, 1985-1994, March 12, 2015

F.209 Treasury Securities

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 1

 2 U.S. savings securities (1) 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 2

 3 Treasury bills 25.5 26.8 -37.2 24.5 16.7 96.8 63.0 67.3 57.0 19.1 3

 4 Other Treasury securities 195.0 175.3 171.8 104.8 119.9 133.5 217.1 217.3 176.7 128.6 4

 5 Net purchases 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 5

 6 Household sector 11.6 -2.4 33.5 78.5 41.9 96.6 25.1 83.3 49.3 170.0 6

 7 U.S. savings securities (1) 5.3 13.6 7.8 8.5 8.2 8.5 11.9 19.1 14.7 8.0 7

 8 Bills and other Treasury securities 6.4 -15.9 25.7 70.0 33.7 88.1 13.1 64.2 34.6 162.0 8

 9 Nonfinancial corporate business 4.6 -0.8 -8.5 -3.9 23.5 -13.8 5.8 17.2 -11.8 2.0 9

 10 Nonfinancial noncorporate business 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 0.6 4.7 10

 11 State and local governments 92.7 57.1 41.9 6.6 4.8 41.5 25.0 -17.4 29.6 -77.8 11

 12 Monetary authority 18.6 19.8 21.3 14.8 -6.9 8.3 31.4 28.5 37.0 32.5 12

 13 Treasury bills 14.4 18.4 3.9 5.1 -8.2 7.9 20.1 9.2 18.6 17.0 13

 14 Other Treasury securities 4.2 1.5 17.4 9.7 1.3 0.4 11.3 19.4 18.4 15.5 14

 15 U.S.-chartered depository institutions 2.3 9.4 6.5 -19.6 -28.3 0.8 49.4 55.6 14.9 -28.1 15

 16 Foreign banking offices in U.S. -0.0 2.1 -0.4 0.1 -0.2 5.0 9.4 8.7 6.5 -3.5 16

 17 Banks in U.S.-affiliated areas 0.1 0.5 0.0 0.2 0.4 0.3 0.3 1.5 1.5 -0.6 17

 18 Credit unions 2.4 1.8 3.2 3.3 -2.3 -3.6 5.5 5.9 2.6 -0.5 18

 19 Property-casualty insurance companies 5.8 12.7 8.6 9.4 10.8 8.3 23.3 3.5 14.1 9.0 19

 20 Treasury bills 0.9 0.0 0.1 0.5 -0.0 0.5 -0.6 0.8 -0.1 -0.3 20

 21 Other Treasury securities 4.9 12.7 8.4 8.9 10.8 7.8 23.9 2.6 14.2 9.4 21

 22 Life insurance companies 10.5 7.3 -2.0 1.4 -5.7 6.3 18.6 10.2 20.1 -2.9 22

 23 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other Treasury securities 10.5 7.3 -2.0 1.4 -5.7 6.3 18.6 10.2 20.1 -2.9 24

 25 Private pension funds 20.1 -15.7 0.2 -0.3 9.7 -0.1 -5.3 -8.5 -4.3 16.8 25

 26 Federal government retirement funds 0.0 0.0 1.1 1.6 2.1 2.6 2.6 2.8 2.9 3.3 26

 27 State and local govt. retirement funds 17.5 30.0 23.5 11.8 1.8 15.9 -2.7 38.1 13.9 -1.8 27

 28 Money market mutual funds -0.8 3.4 -13.7 -2.7 3.2 30.2 33.4 0.2 1.0 -13.3 28

 29 Treasury bills 0.2 0.0 -15.5 0.2 2.2 18.1 22.2 -0.4 5.9 -8.6 29

 30 Other Treasury securities -1.0 3.4 1.8 -2.9 1.0 12.1 11.2 0.5 -4.9 -4.7 30

 31 Mutual funds 32.2 32.4 12.8 -3.8 1.2 5.7 16.8 6.5 23.6 -3.5 31

 32 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Other Treasury securities 32.2 32.4 12.8 -3.8 1.2 5.7 16.8 6.5 23.6 -3.5 33

 34 Closed-end funds 0.1 0.4 0.6 3.2 1.8 0.2 3.1 1.7 2.1 -1.0 34

 35 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Government-sponsored enterprises 4.1 9.5 4.7 5.3 -13.3 21.3 18.2 17.9 -7.1 0.3 36

 37 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Brokers and dealers -16.2 8.1 -25.7 -30.7 68.9 -14.2 -1.6 -13.3 -20.7 -14.4 38

 39 Holding companies 0.3 -0.1 0.1 0.0 0.1 -0.2 0.3 5.1 -0.8 -0.7 39

 40 Rest of the world 19.6 38.2 35.6 62.0 29.8 27.0 33.7 55.6 73.3 65.0 40

 41 Treasury bills -7.2 21.3 11.3 13.3 -24.0 5.7 13.9 16.9 49.1 -13.8 41

 42 Other Treasury securities 26.8 16.9 24.3 48.7 53.7 21.3 19.7 38.7 24.2 78.8 42

 Memo:

 43 Federal government borrowing (2) 225.7 216.0 143.9 155.1 146.4 246.9 278.2 304.0 256.1 155.9 43

(1) Includes U.S. savings bonds, U.S. individual retirement bonds, U.S. retirement plan bonds, U.S. savings stamps, and matured U.S. savings securities.

(2) Total issues of Treasury securities (line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 11).
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Historical Annuals, 1985-1994, March 12, 2015 53

F.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 1

 2 Budget agencies -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 2

 3 Government-sponsored enterprises 20.6 15.2 30.2 44.9 25.2 17.1 9.2 40.7 80.6 176.9 3

 4 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 4

 5 Net purchases 99.4 179.9 169.5 138.2 151.1 175.6 132.0 156.5 173.1 292.3 5

 6 Household sector -7.7 1.7 7.1 19.6 21.2 35.3 6.4 1.7 -56.8 110.3 6

 7 Nonfinancial corporate business -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 9

 10 Monetary authority -0.2 -0.4 -0.3 0.0 -1.0 -0.2 -0.3 -0.6 -0.8 -1.0 10

 11 U.S.-chartered depository institutions -2.3 82.8 71.5 49.2 5.9 29.6 5.7 36.9 40.4 14.4 11

 12 Foreign banking offices in U.S. 0.5 1.5 1.2 1.1 0.3 1.9 4.0 2.9 7.4 1.5 12

 13 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.4 0.4 0.1 0.1 1.1 0.2 0.5 13

 14 Credit unions 1.1 1.8 0.0 -1.7 -0.9 8.2 5.2 9.1 7.7 4.5 14

 15 Property-casualty insurance companies 7.8 -0.6 0.1 0.2 3.4 5.9 9.7 -0.3 1.3 1.6 15

 16 Life insurance companies 12.5 10.6 7.0 8.6 25.0 20.3 42.4 27.7 27.6 11.3 16

 17 Private pension funds 22.5 -8.0 13.1 14.4 23.8 22.4 13.0 10.6 14.0 40.7 17

 18 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.1 18

 19 State and local govt. retirement funds -5.2 0.0 4.8 -7.6 15.8 11.9 -4.9 -18.3 -3.8 4.2 19

 20 Money market mutual funds 1.1 -3.0 11.7 -8.6 2.7 15.6 4.2 13.6 13.5 9.4 20

 21 Mutual funds 20.7 37.3 2.8 -3.4 1.6 8.1 24.1 50.3 25.7 -6.9 21

 22 Government-sponsored enterprises 0.1 -0.6 -0.1 0.2 5.9 5.6 11.1 12.7 18.6 64.8 22

 23 ABS issuers 9.0 43.4 28.2 25.4 -8.0 4.1 -23.0 -23.0 23.6 23.2 23

 24 REITs 0.2 5.0 6.5 2.5 0.9 -1.1 0.1 -0.7 -0.3 -6.4 24

 25 Brokers and dealers 4.9 4.9 4.9 4.9 4.9 19.6 10.0 -1.0 7.8 -15.8 25

 26 Holding companies 1.0 -0.4 0.3 0.0 0.3 -0.5 0.5 -0.2 0.9 1.7 26

 27 Rest of the world 4.3 7.0 5.0 6.7 15.1 6.3 10.2 18.3 35.4 21.7 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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54 Historical Annuals, 1985-1994, March 12, 2015

F.211 Municipal Securities and Loans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 1

 2 State and local governments 155.4 72.8 92.8 53.7 47.6 46.2 90.8 16.6 58.7 -45.9 2

 3 Short-term (1) 2.2 -0.1 -0.8 2.0 3.3 2.9 6.9 -1.1 1.8 -2.2 3

 4 Long-term 153.2 72.9 93.6 51.7 44.3 43.2 83.9 17.7 56.9 -43.8 4

 5 Nonprofit organizations (2) 30.2 -3.0 -0.3 1.5 3.2 3.0 3.8 2.4 1.1 3.2 5

 6 Nonfinancial corporate business 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 6

 (industrial revenue bonds)

 7 Net change in assets 208.2 59.9 91.6 55.4 49.8 48.8 93.5 23.3 66.3 -35.9 7

 8 Household sector 103.6 15.2 105.6 56.8 27.9 34.7 54.7 -28.3 -29.8 -46.5 8

 9 Nonfinancial corporate business 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 8.9 2.0 9

 10 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.1 10

 11 State and local governments 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 11

 12 U.S.-chartered depository institutions 57.9 -28.7 -29.1 -22.5 -17.9 -16.0 -14.7 -6.0 2.0 -2.1 12

 13 Foreign banking offices in U.S. -0.1 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 0.0 0.0 0.0 0.1 -0.0 0.0 -0.1 -0.0 -0.2 0.4 14

 15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Property-casualty insurance companies 3.8 13.3 23.0 8.9 0.1 1.8 -10.7 6.3 10.4 7.4 16

 17 Life insurance companies 1.0 2.0 -1.0 -1.6 -0.1 3.3 -2.1 1.1 3.2 -1.9 17

 18 State and local govt. retirement funds -0.4 -0.4 0.1 -0.3 -0.3 0.2 0.1 -0.2 0.9 -0.3 18

 19 Money market mutual funds 12.5 27.6 -2.3 4.3 4.0 13.9 6.6 5.4 9.6 7.8 19

 20 Mutual funds 15.8 32.1 7.9 8.1 15.7 13.9 27.2 28.7 42.9 -4.3 20

 21 Closed-end funds 1.0 1.1 1.3 4.2 4.6 2.0 11.3 14.3 12.1 1.6 21

 22 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Government-sponsored enterprises 0.4 0.7 0.2 0.5 -0.0 0.8 -0.7 0.2 -0.1 2.0 23

 24 Brokers and dealers 8.9 -3.3 -8.4 -0.8 -0.4 0.8 1.6 1.9 5.8 -1.7 24

 25 Rest of the world 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 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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Historical Annuals, 1985-1994, March 12, 2015 55

F.212 Corporate and Foreign Bonds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues 143.4 222.5 164.7 162.2 119.5 123.0 165.7 167.4 386.5 221.0 1

 2 Nonfinancial corporate business 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 2

 3 Domestic financial sectors 56.5 92.3 78.6 52.2 40.8 54.5 72.0 83.0 120.2 115.5 3

 4 U.S.-chartered depository institutions 9.1 7.1 5.0 1.6 -0.6 -1.4 -3.2 5.2 2.1 2.6 4

 5 ABS issuers (net) (1) 15.0 36.7 41.8 34.4 18.0 43.7 46.4 48.1 77.8 57.9 5

 6 Finance companies 14.7 26.3 9.6 5.9 15.6 16.8 14.8 8.9 12.5 31.7 6

 7 REITs 0.9 4.8 6.8 1.8 1.0 0.1 -0.1 0.3 -1.4 -1.6 7

 8 Brokers and dealers 0.3 2.1 -0.1 4.3 6.3 1.5 3.7 2.7 12.0 0.5 8

 9 Holding companies 14.4 13.9 12.8 5.4 1.9 -9.0 3.3 6.1 3.6 4.3 9

 10 Funding corporations 2.1 1.4 2.7 -1.1 -1.3 2.9 6.9 11.7 13.6 20.0 10

 11 Rest of the world (2) 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 11

 12 Net purchases (3) 143.4 222.5 164.7 162.2 119.5 123.0 165.7 167.4 386.5 221.0 12

 13 Household sector 46.5 31.9 31.7 -11.8 5.4 47.0 28.7 -2.0 114.0 94.5 13

 14 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 State and local governments 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 15

 16 U.S.-chartered depository institutions 5.4 25.6 29.3 28.5 -12.0 -11.8 1.4 4.1 9.2 -3.0 16

 17 MBS and other ABS -0.0 3.3 0.1 4.9 4.5 1.4 0.8 -7.0 2.9 -0.5 17

 18 Other 5.4 22.3 29.2 23.6 -16.5 -13.2 0.6 11.1 6.3 -2.5 18

 19 Foreign banking offices in U.S. 3.5 5.0 3.3 -0.7 1.1 3.0 3.8 0.8 1.6 4.8 19

 20 Banks in U.S.-affiliated areas 0.4 0.1 0.0 -0.9 0.0 -0.0 0.1 0.2 0.2 -0.1 20

 21 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

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

 24 Property-casualty insurance companies 7.7 13.0 7.4 10.1 13.6 10.4 7.4 -1.2 3.3 7.2 24

 25 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other 7.7 13.0 7.4 10.1 13.6 10.4 7.4 -1.2 3.3 7.2 26

 27 Life insurance companies 37.8 40.8 66.9 68.4 52.8 56.5 25.4 55.0 58.3 59.9 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other 37.8 40.8 66.9 68.4 52.8 56.5 25.4 55.0 58.3 59.9 29

 30 Private pension funds -26.2 26.7 -3.9 5.5 12.2 19.7 21.1 27.7 26.9 -6.7 30

 31 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 31

 32 State and local govt. retirement funds 4.8 11.7 0.5 18.6 14.4 -10.4 2.6 12.2 22.4 0.2 32

 33 Money market mutual funds 0.2 0.8 0.4 0.1 1.4 -1.7 1.8 2.5 5.4 3.4 33

 34 Mutual funds 8.0 20.2 4.1 3.2 4.8 4.7 28.4 31.0 50.6 3.2 34

 35 Closed-end funds 0.3 1.4 2.1 10.4 0.1 -0.9 -1.6 4.2 5.8 -4.4 35

 36 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 8.9 37

 38 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 8.9 38

 39 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Finance companies 3.7 5.1 5.7 4.8 6.1 5.4 14.8 1.9 13.6 7.6 40

 41 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 0.2 1.0 41

 42 Brokers and dealers 9.2 0.3 -4.4 9.8 3.7 -4.0 12.0 10.0 22.2 -8.7 42

 43 Holding companies 3.1 -1.3 1.0 0.1 0.8 -1.9 -0.5 0.3 1.7 -0.1 43

 44 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 10.0 44

 45 Rest of the world (4) 36.1 38.9 18.6 14.7 13.1 5.8 18.2 16.6 30.2 37.8 45

 46 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Other 36.1 38.9 18.6 14.7 13.1 5.8 18.2 16.6 30.2 37.8 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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56 Historical Annuals, 1985-1994, March 12, 2015

F.213 Corporate Equities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net issues -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 1

 2 Nonfinancial corporate business -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 2

 3 Domestic financial sectors 10.5 14.7 14.9 22.9 3.6 6.7 22.3 40.2 51.1 9.9 3

 4 U.S.-chartered depository institutions 1.4 1.4 1.5 2.5 1.5 2.1 0.9 4.3 1.9 1.8 4

 5 Property-casualty insurance companies 1.5 2.2 -2.0 -2.1 -1.6 -3.8 -2.6 -1.0 3.6 -3.5 5

 6 Life insurance companies -0.1 0.6 -0.9 -0.1 -0.6 -1.4 -0.1 0.6 -0.8 -1.7 6

 7 Closed-end funds 1.0 5.8 7.3 20.6 6.3 1.4 14.6 20.2 23.7 2.4 7

 8 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 8

 9 REITs 3.2 1.8 1.4 2.2 1.8 1.3 1.6 2.0 13.2 11.1 9

 10 Government-sponsored enterprises 1.0 0.7 1.3 1.1 -0.8 -3.2 -1.2 0.0 2.4 0.3 10

 11 Brokers and dealers 2.5 2.2 6.3 -1.2 -3.0 3.4 -5.7 -1.9 1.3 4.7 11

 12 Holding companies 0.0 0.0 0.0 0.0 0.0 6.9 14.7 15.9 5.4 -5.1 12

 13 Funding corporations (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Rest of the world (3) 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 14

 15 Net purchases -70.4 -69.1 -62.8 -105.5 -103.3 -48.9 71.2 99.6 135.8 13.1 15

 16 Household sector -130.1 -122.6 -143.8 -122.3 -110.1 -50.8 -53.9 27.2 -118.7 -145.3 16

 17 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 State and local governments 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 18

 19 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 U.S.-chartered depository institutions -0.1 2.1 1.4 2.0 0.3 -5.1 0.5 -0.0 2.5 -3.1 20

 21 Foreign banking offices in U.S. 0.1 0.0 -0.1 -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 21

 22 Property-casualty insurance companies -2.0 -0.3 2.7 3.6 7.9 -7.0 -1.2 -0.4 0.8 0.8 22

 23 Life insurance companies 4.8 -2.1 5.7 -3.4 9.7 -5.7 17.0 12.4 41.1 42.5 23

 24 Private pension funds 10.9 -12.8 -0.0 6.8 -33.9 0.5 12.0 1.8 35.3 -4.3 24

 25 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.3 0.5 1.2 1.7 1.7 25

 26 State and local govt. retirement funds 29.0 23.9 32.5 22.8 14.0 22.7 39.8 14.8 34.3 27.3 26

 27 Mutual funds 10.3 20.2 26.9 -16.0 1.2 14.4 48.5 59.8 115.3 100.8 27

 28 Closed-end funds -0.4 2.9 3.3 2.8 -0.3 0.1 1.8 -0.0 3.7 6.1 28

 29 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 -0.0 29

 30 Brokers and dealers 2.6 1.4 -7.1 0.1 -1.9 -3.3 2.4 -0.6 8.1 -3.4 30

 31 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Rest of the world (4) 4.4 17.9 15.0 -2.9 8.6 -16.7 3.8 -17.5 10.4 -11.5 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

 1 Net issues 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 1

 2 Net purchases 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 2

 3 Household sector 79.7 139.4 59.0 -1.7 27.3 31.5 102.7 133.3 227.5 3.2 3

 4 Nonfinancial corporate business 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 4

 5 State and local governments 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 -0.1 -0.3 1.8 -0.4 0.5 -1.9 6

 7 Credit unions 0.0 0.0 -0.0 -0.4 -0.1 0.2 1.2 1.5 0.1 -1.6 7

 8 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 8

 9 Life insurance companies 1.1 10.2 -2.2 5.7 -4.1 12.6 1.0 9.0 1.5 4.4 9

 10 Private pension funds 2.0 1.8 2.2 -0.5 5.1 6.6 11.2 22.2 34.6 55.3 10

 11 State and local govt. retirement funds 0.0 -1.9 3.9 -2.1 -0.6 0.5 5.0 4.3 6.1 19.1 11

 12 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 5.9 11.1 9.8 11.6 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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Historical Annuals, 1985-1994, March 12, 2015 57

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 44.6 77.9 7.9 34.9 19.8 -20.7 -43.4 -28.8 -8.7 49.6 1

 2 Household sector 5.4 -1.5 0.4 0.4 -9.5 0.9 -1.9 7.0 8.8 9.4 2

 3 Corporate business 41.0 65.7 4.4 36.5 21.6 -10.5 -47.4 -31.5 -7.3 46.8 3

 4 Noncorporate business 2.1 0.6 8.7 9.3 12.8 4.0 0.1 2.7 4.4 15.3 4

 5 Domestic financial sectors -1.1 13.7 -7.1 2.3 13.2 0.6 4.4 -1.6 -13.0 -11.3 5

 6 Finance companies -2.5 12.6 -8.3 1.0 13.2 3.2 7.4 2.0 -13.7 -17.1 6

 7 REITs 0.3 0.3 0.5 1.6 1.0 0.3 0.6 -1.3 -0.2 2.5 7

 8 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Holding companies 1.1 0.7 0.7 -0.3 -0.9 -2.9 -3.6 -2.4 0.8 3.3 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world -2.8 -0.5 1.6 -13.6 -18.2 -15.7 1.4 -5.4 -1.6 -10.6 11

 12 Foreign official institutions -1.4 -1.1 0.5 -0.6 -2.4 -6.3 -3.7 -4.5 3.4 -7.3 12

 13 Foreign banks -1.3 1.5 -4.0 0.0 1.1 -3.2 1.1 0.4 1.3 -0.4 13

 14 Other foreign -0.1 -1.0 5.1 -13.0 -17.0 -6.1 3.9 -1.2 -6.2 -2.9 14

 15 Net change in assets 44.6 77.9 7.9 34.9 19.8 -20.7 -43.4 -28.8 -8.7 49.6 15

 16 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 U.S.-chartered depository institutions 32.0 49.4 -15.5 20.8 18.1 -23.3 -67.8 -30.3 7.4 41.8 17

 18 Foreign banking offices in U.S. 10.5 28.3 23.6 13.6 1.6 0.2 28.5 3.3 -15.8 5.3 18

 19 Banks in U.S.-affiliated areas 2.1 0.2 -0.1 0.4 0.1 3.3 -3.0 0.2 -0.5 1.7 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 -0.9 -1.1 -1.9 0.2 0.9 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table F.109.
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58 Historical Annuals, 1985-1994, March 12, 2015

F.216 Other Loans and Advances

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total other loans and advances 41.6 59.5 62.7 58.9 38.3 40.0 -95.6 11.9 -11.2 62.5 1

 2 U.S. government loans 15.9 9.0 -2.9 -7.8 -2.3 -1.9 -4.9 0.0 -10.5 1.9 2

 3 Liab.: Household sector 7.0 4.4 3.3 3.9 0.5 3.0 2.2 0.7 -4.4 3.2 3

 4 Nonfinancial corporate business -2.6 1.5 0.1 -1.3 -0.3 -0.8 -0.9 -0.1 -1.6 3.8 4

 5 Nonfinancial noncorporate business 0.8 0.5 -0.9 -3.0 0.1 -1.1 -1.2 -0.6 -2.7 0.4 5

 6 State and local governments 8.2 1.4 -2.4 -3.3 -0.2 0.9 0.4 -0.1 -0.7 0.4 6

 7 Government-sponsored enterprises 1.1 -0.4 -0.8 0.0 0.0 -0.1 -0.0 -0.0 0.0 -4.8 7

 8 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 2.9 3.0 -1.1 -2.7 -1.1 -2.4 -3.9 1.6 0.0 0.3 10

 11 Foreign loans to U.S. corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 11

 12 Liab.: Nonfinancial corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions -11.1 -7.3 -1.0 -3.1 -5.2 -4.1 -4.6 -0.1 -2.4 -0.2 13

 14 Foreign banking offices in U.S. 1.6 1.7 6.5 0.7 3.1 -5.7 -5.6 -3.6 -4.0 -2.1 14

 15 Liab.: Nonfinancial corporate business -2.1 -0.2 4.4 0.0 3.2 -6.6 -5.9 -2.9 -3.3 -2.1 15

 16 Rest of the world -7.4 -5.4 1.0 -2.4 -5.3 -3.2 -4.4 -0.7 -3.1 -0.3 16

 17 Holding company loans -0.7 1.5 0.5 -0.3 1.6 -0.2 -1.9 0.4 -1.8 -0.1 17

 18 Liab.: Nonfinancial corporate business -0.7 1.5 0.5 -0.3 1.6 -0.2 -1.9 0.4 -1.8 -0.1 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Policy loans (Household liability) -0.1 -0.1 -0.0 -0.0 3.2 4.1 4.8 5.7 5.6 7.8 20

 21 Asset: Federal government -0.0 0.2 0.4 -0.7 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 21

 22 Life insurance companies -0.1 -0.3 -0.4 0.6 3.2 4.1 4.8 5.7 5.7 7.8 22

 23 Govt.-sponsored enterprises loans (1) 10.3 17.6 25.0 18.8 -8.6 -23.1 -34.1 0.6 23.8 23.6 23

 24 Liab.: Household sector (SLMA) 0.1 0.0 0.1 -0.0 -0.0 0.3 0.4 -0.2 0.1 0.1 24

 25 Nonfinancial corporate business (FCS) -0.3 -0.2 -0.1 -0.2 0.2 0.0 0.1 0.0 0.0 0.1 25

 26 Nonfinancial noncorporate business (FCS) -4.6 -2.9 -0.7 -0.5 1.7 0.5 2.7 1.3 1.4 0.7 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 15.2 20.6 25.8 19.4 -10.5 -23.9 -37.3 -0.6 21.9 22.1 27

 28 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 28

 29 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.3 29

 30 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 30

 31 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.6 3.6 2.5 2.9 9.7 4.3 31

 32 Finance company loans to business 18.3 15.6 34.3 28.6 23.5 17.4 -4.3 1.1 -15.9 25.9 32

 33 Liab.: Nonfinancial corporate business 16.4 14.0 30.8 25.8 21.1 15.6 -3.9 1.0 -14.3 23.3 33

 34 Nonfinancial noncorporate business 1.8 1.6 3.4 2.9 2.3 1.7 -0.4 0.1 -1.6 2.6 34

 35 Loans to nonfinancial corporate business (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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Historical Annuals, 1985-1994, March 12, 2015 59

F.217 Total Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in mortgages 260.0 287.5 321.2 322.5 265.1 226.4 147.4 110.9 117.1 164.2 1

 2 Home 180.1 203.8 240.4 223.7 226.4 208.1 164.3 167.4 156.5 177.2 2

 3 Multifamily residential 28.5 33.5 16.9 18.2 10.5 -1.2 -3.3 -13.2 -4.7 0.5 3

 4 Commercial 69.8 60.3 72.3 85.6 30.3 20.6 -13.4 -43.7 -35.3 -15.0 4

 5 Farm -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 5

 6 Net borrowing 260.0 287.5 321.2 322.5 265.1 226.4 147.4 110.9 117.1 164.2 6

 7 Household sector 184.9 204.0 227.9 220.0 232.1 207.2 183.1 179.6 167.0 165.7 7

 8 Nonfinancial business 75.1 83.3 93.0 102.2 32.7 18.5 -36.1 -69.2 -53.4 -11.3 8

 9 Corporate 4.8 15.9 45.5 26.8 1.2 23.3 -8.8 -39.2 -31.3 -6.7 9

 10 Noncorporate 70.3 67.4 47.5 75.4 31.5 -4.7 -27.3 -30.0 -22.1 -4.6 10

 11 Federal government -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 11

 12 REITs 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 12

 13 Net change in assets 260.0 287.5 321.2 322.5 265.1 226.4 147.4 110.9 117.1 164.2 13

 14 Household sector 4.3 -3.6 14.4 2.3 8.9 10.0 1.7 -6.0 -7.5 -8.5 14

 15 Nonfinancial corporate business 5.6 -6.9 1.4 16.6 -13.7 -1.6 6.2 1.1 -7.8 4.1 15

 16 Nonfinancial noncorporate business 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 16

 17 Federal government 1.8 1.0 -5.3 -1.1 -0.7 35.6 15.4 -11.9 -15.4 -14.0 17

 18 State and local governments 9.8 11.8 8.7 4.0 6.3 5.3 3.5 -0.0 -5.4 2.2 18

 19 U.S.-chartered depository institutions 105.1 89.6 137.5 142.2 64.1 -37.1 -73.7 -56.3 23.1 65.9 19

 20 Foreign banking offices in U.S. 0.1 2.9 5.2 8.1 8.1 15.3 8.8 -2.7 -6.5 -4.8 20

 21 Banks in U.S.-affiliated areas 0.2 0.1 0.2 0.6 0.7 0.9 0.6 0.8 1.3 1.6 21

 22 Credit unions 3.6 8.2 10.5 8.2 6.8 5.8 4.2 2.9 1.9 5.2 22

 23 Property-casualty insurance companies 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 23

 24 Life insurance companies 15.1 22.0 18.5 20.5 21.4 13.6 -8.4 -17.5 -18.1 -8.1 24

 25 Private pension funds 4.3 -2.8 -3.1 8.5 6.6 1.6 -6.7 -3.7 -1.6 -5.2 25

 26 State and local govt. retirement funds 0.1 0.2 -0.2 0.3 -0.3 0.8 0.8 -0.4 -1.9 0.7 26

 27 Government-sponsored enterprises (1) 9.6 -12.0 -8.3 5.0 6.0 5.7 11.5 32.1 41.3 3.6 27

 28 Agency- and GSE-backed mortgage pools 78.9 164.3 137.8 75.9 124.3 150.3 136.6 115.6 84.7 115.3 28

 29 ABS issuers 6.0 -6.7 13.6 9.0 12.2 13.4 43.5 54.8 36.4 20.1 29

 30 Finance companies 8.0 17.5 -4.7 10.3 26.6 11.2 9.5 2.7 -3.1 -19.8 30

 31 REITs 2.4 0.0 1.0 1.7 -0.3 -0.7 -0.7 1.1 0.6 4.7 31
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60 Historical Annuals, 1985-1994, March 12, 2015

F.218 Home Mortgages (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net borrowing 180.1 203.8 240.4 223.7 226.4 208.1 164.3 167.4 156.5 177.2 1

 2 Household sector 181.7 199.3 221.6 215.6 224.9 200.0 174.5 173.0 156.3 166.5 2

 3 Nonfinancial corporate business -1.1 0.0 1.1 1.1 -0.2 1.1 -2.5 -1.6 -0.4 1.3 3

 4 Nonfinancial noncorporate business -0.5 4.5 17.6 7.0 1.7 7.0 -7.7 -4.0 0.7 9.4 4

 5 Net change in assets 180.1 203.8 240.4 223.7 226.4 208.1 164.3 167.4 156.5 177.2 5

 6 Household sector 10.3 0.3 17.8 5.6 9.0 11.3 1.5 -7.4 -9.0 -9.0 6

 7 Nonfinancial corporate business 3.7 3.6 3.9 -1.5 8.9 5.6 3.0 -0.3 -5.2 1.8 7

 8 Nonfinancial noncorporate business 0.6 0.2 -2.3 5.8 -5.5 -2.6 -0.7 0.6 -1.3 0.7 8

 9 Federal government 0.9 -0.2 -3.3 0.3 0.3 16.6 -0.9 -0.5 -6.0 -3.9 9

 10 State and local governments 5.9 3.9 1.2 2.5 4.7 3.6 2.0 -0.6 -6.0 1.0 10

 11 U.S.-chartered depository institutions 49.3 27.8 80.6 111.9 41.4 -3.4 -39.5 -23.2 32.9 65.1 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.2 0.2 0.2 -0.0 1.0 1.2 0.6 13

 14 Credit unions 3.6 8.2 10.5 8.2 6.8 5.8 4.2 2.9 1.9 5.2 14

 15 Life insurance companies -0.5 0.5 0.4 -2.0 1.1 1.4 -2.9 0.5 -2.7 0.1 15

 16 Private pension funds 0.7 -0.5 -2.6 1.4 2.6 0.0 -1.5 -0.8 -0.0 0.5 16

 17 State and local govt. retirement funds -0.1 -0.6 0.3 -0.1 0.0 0.1 0.2 -0.3 0.1 0.4 17

 18 Government-sponsored enterprises 17.2 -5.7 -3.1 6.2 5.1 5.3 11.2 30.3 40.0 3.0 18

 19 Agency- and GSE-backed mortgage pools 77.6 159.3 133.4 70.7 120.2 147.3 139.3 117.8 86.1 115.3 19

 20 ABS issuers 5.4 -7.4 11.2 7.1 8.5 11.7 38.1 45.5 25.6 15.1 20

 21 Finance companies 5.4 14.2 -7.8 7.3 23.1 5.1 10.2 1.1 -2.3 -21.5 21

 22 REITs 0.1 -0.0 0.0 0.1 -0.0 -0.0 -0.1 0.8 1.1 2.8 22

 Memo:

 23 Charge-offs (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Home equity loans included above (3) ND ND ND ND ND ND 7.3 -4.9 -6.7 11.4 24

 25 U.S.-chartered depository institutions ND ND ND ND ND ND 6.3 -5.3 -5.1 8.0 25

 26 Foreign banking offices in U.S. ND ND ND ND ND ND 0.0 0.0 0.0 0.0 26

 27 Credit unions ND ND ND ND ND ND 1.2 -0.8 -1.3 1.6 27

 28 ABS issuers ND ND ND ND ND ND 0.3 0.5 0.6 0.6 28

 29 Finance companies 2.6 3.2 4.1 2.3 -13.2 3.0 -0.5 0.7 -0.9 1.2 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from the flow (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars

 1 Net borrowing 28.5 33.5 16.9 18.2 10.5 -1.2 -3.3 -13.2 -4.7 0.5 1

 2 Nonfinancial corporate business 1.4 1.7 0.8 0.9 0.5 -0.1 -0.2 -0.7 -0.3 -0.1 2

 3 Nonfinancial noncorporate business 27.1 31.8 15.9 17.2 9.9 -1.4 -3.3 -12.7 -5.6 -2.6 3

 4 Federal government -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 4

 5 REITs 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 1.2 3.2 5

 6 Net change in assets 28.5 33.5 16.9 18.2 10.5 -1.2 -3.3 -13.2 -4.7 0.5 6

 7 Household sector 0.4 1.0 -2.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.2 1.0 2.0 -3.1 2.0 -1.7 -1.0 -0.2 0.1 0.4 8

 9 Nonfinancial noncorporate business 0.7 1.0 -0.9 2.5 -3.2 0.8 -0.6 -0.0 -1.1 0.6 9

 10 Federal government 0.0 0.7 0.4 0.3 0.5 10.6 8.9 -4.2 -4.5 -2.6 10

 11 State and local governments 3.2 7.0 7.0 1.1 1.2 1.0 1.0 0.7 0.4 0.7 11

 12 U.S.-chartered depository institutions 17.6 14.9 6.0 6.5 -0.0 -16.5 -12.4 -9.0 -1.6 -2.1 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies 1.0 1.1 1.6 2.0 2.3 2.1 0.4 -2.1 0.3 0.3 14

 15 Private pension funds 1.6 0.3 -1.1 1.1 1.3 -2.8 -0.3 -0.2 -0.0 0.3 15

 16 State and local govt. retirement funds -0.0 0.0 -0.4 -0.2 -0.3 -0.2 -0.2 -0.7 -0.1 0.2 16

 17 Government-sponsored enterprises 1.9 0.3 -0.3 1.1 2.5 1.2 1.0 1.6 1.7 0.9 17

 18 Agency- and GSE-backed mortgage pools 1.5 5.1 4.5 5.2 4.1 3.0 -2.6 -2.3 -1.4 -0.0 18

 19 ABS issuers 0.0 0.2 0.4 0.4 -0.0 -0.1 2.9 2.8 1.8 1.4 19

 20 Finance companies 0.4 0.9 -0.6 0.5 0.2 1.5 -0.2 0.4 -0.0 0.2 20

 21 REITs 0.4 0.0 0.3 0.5 -0.1 -0.2 -0.1 0.0 -0.3 0.2 21
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Historical Annuals, 1985-1994, March 12, 2015 61

F.220 Commercial Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net borrowing 69.8 60.3 72.3 85.6 30.3 20.6 -13.4 -43.7 -35.3 -15.0 1

 2 Household sector 3.2 4.7 6.3 4.4 7.2 7.2 8.6 6.6 10.7 -0.8 2

 3 Nonfinancial corporate business 5.8 14.9 44.0 25.1 1.0 22.1 -6.2 -37.0 -30.8 -8.3 3

 4 Nonfinancial noncorporate business 60.7 40.5 21.7 55.9 21.9 -9.1 -16.0 -13.6 -17.5 -12.5 4

 5 REITs 0.0 0.2 0.2 0.2 0.2 0.4 0.3 0.4 2.4 6.6 5

 6 Net change in assets 69.8 60.3 72.3 85.6 30.3 20.6 -13.4 -43.7 -35.3 -15.0 6

 7 Household sector 0.9 -1.1 1.9 -0.8 0.9 -0.7 -0.1 0.9 0.9 -0.1 7

 8 Nonfinancial corporate business 2.0 -11.5 -4.6 21.3 -24.7 -5.5 4.2 1.5 -2.6 2.0 8

 9 Nonfinancial noncorporate business 3.4 -0.5 -3.6 1.6 -4.0 -2.2 -3.7 -1.4 -0.9 0.5 9

 10 Federal government 0.3 0.2 -1.8 -1.3 -0.9 9.0 7.7 -6.6 -4.5 -7.3 10

 11 State and local governments 0.7 0.7 0.6 0.4 0.4 0.7 0.6 -0.1 0.2 0.5 11

 12 U.S.-chartered depository institutions 38.3 45.9 49.6 23.0 21.7 -17.8 -22.8 -25.3 -9.0 1.6 12

 13 Foreign banking offices in U.S. 0.1 2.9 5.2 8.1 8.1 15.3 8.8 -2.7 -6.5 -4.8 13

 14 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.4 0.5 0.7 0.7 -0.2 0.1 0.9 14

 15 Property-casualty insurance companies 0.7 1.0 0.6 0.6 0.9 0.4 -0.4 -0.6 -1.4 -0.7 15

 16 Life insurance companies 16.5 21.4 17.6 20.8 17.9 9.6 -5.6 -15.1 -16.0 -8.5 16

 17 Private pension funds 1.9 -2.6 0.6 5.9 2.7 4.3 -4.9 -2.7 -1.5 -6.0 17

 18 State and local govt. retirement funds 0.2 0.8 -0.1 0.5 -0.1 0.9 0.8 0.6 -1.9 0.1 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 19

 20 ABS issuers 0.6 0.6 2.0 1.5 3.7 1.8 2.4 6.5 9.0 3.6 20

 21 Finance companies 2.1 2.3 3.6 2.5 3.3 4.6 -0.6 1.2 -0.8 1.5 21

 22 REITs 1.9 0.0 0.7 1.1 -0.2 -0.5 -0.5 0.3 -0.3 1.7 22

F.221 Farm Mortgages (1)

Billions of dollars

 1 Net borrowing -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 1

 2 Nonfinancial corporate business -1.3 -0.7 -0.5 -0.3 -0.1 0.0 0.1 0.1 0.2 0.4 2

 3 Nonfinancial noncorporate business -17.1 -9.3 -7.7 -4.6 -2.0 -1.2 -0.3 0.3 0.3 1.0 3

 4 Net change in assets -18.3 -10.0 -8.3 -5.0 -2.1 -1.1 -0.2 0.4 0.6 1.5 4

 5 Household sector -7.3 -3.8 -3.2 -2.5 -1.1 -0.5 0.3 0.5 0.7 0.7 5

 6 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 -0.1 -0.1 -0.0 -0.1 0.0 6

 7 Federal government 0.6 0.3 -0.5 -0.4 -0.6 -0.7 -0.4 -0.6 -0.5 -0.3 7

 8 State and local governments 0.0 0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 8

 9 U.S.-chartered depository institutions -0.1 1.0 1.4 0.7 1.1 0.5 0.9 1.2 0.8 1.3 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies -1.9 -0.9 -1.0 -0.4 0.0 0.5 -0.2 -0.7 0.2 0.0 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises -9.5 -6.5 -4.9 -2.3 -1.5 -0.9 -0.7 0.1 -0.5 -0.3 13

 14 Agency- and GSE-backed mortgage pools -0.2 -0.2 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 14

(1) Excludes mortgages on farm houses.
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62 Historical Annuals, 1985-1994, March 12, 2015

F.222 Consumer Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities (Households) 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 1

 2 Net change in assets 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 2

 3 Households (nonprofit organizations) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business 4.1 4.5 7.0 6.7 3.1 3.3 -4.2 2.8 6.9 9.4 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.5 6

 7 U.S.-chartered depository institutions 51.8 28.3 16.3 28.1 18.3 -14.2 -19.3 -12.1 33.3 63.7 7

 8 Credit unions 6.1 3.1 4.0 7.3 3.3 -0.1 -1.3 1.4 9.9 18.0 8

 9 Government-sponsored enterprises 1.2 1.4 1.9 3.2 2.8 3.2 1.9 3.1 2.6 3.6 9

 10 ABS issuers 0.0 0.0 0.0 0.0 20.2 29.3 26.3 17.3 10.2 15.6 10

 11 Finance companies 20.7 18.6 3.1 1.2 -0.7 -6.5 -12.2 -3.3 -1.9 18.3 11

 Memo:

 12 Credit card loans (3) 25.3 17.3 20.7 24.8 18.1 28.6 26.2 15.2 32.8 58.2 12

 13 Auto loans 36.4 36.2 18.6 18.9 -1.9 -7.0 -19.7 -0.2 25.8 40.4 13

 14 Student loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other consumer credit (5) 22.3 2.3 -7.1 2.9 30.8 -6.5 -15.3 -5.8 2.9 36.4 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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Historical Annuals, 1985-1994, March 12, 2015 63

F.223 Trade Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in trade payables 65.6 22.0 71.5 85.7 61.9 44.4 42.2 58.9 67.5 107.5 1

 2 Household sector 3.1 2.3 4.7 2.4 16.2 9.3 9.4 5.9 6.0 5.2 2

 3 Nonfinancial corporate business 42.5 -2.0 44.4 54.1 21.6 28.3 23.1 33.4 36.5 77.4 3

 4 Nonfinancial noncorporate business -1.3 -2.1 5.1 7.0 2.5 -0.1 -1.0 6.3 1.5 7.4 4

 5 Federal government 10.6 14.6 7.5 8.0 8.6 -5.8 -5.5 -2.8 3.0 -0.2 5

 6 State and local governments 8.7 9.5 10.1 10.8 11.8 12.9 13.7 14.3 15.0 16.0 6

 7 Brokers and dealers 2.5 -0.4 -0.8 1.7 -0.5 -1.9 0.7 0.6 2.7 -0.9 7

 8 Rest of the world -0.7 0.0 0.6 1.6 1.7 1.6 1.9 1.2 2.8 2.6 8

 9 Net change in trade receivables 60.5 16.0 82.5 118.1 62.9 49.6 -5.0 37.0 62.1 100.5 9

 10 Nonfinancial corporate business 45.2 2.1 63.9 90.6 42.1 29.2 -5.8 27.6 50.7 71.9 10

 11 Nonfinancial noncorporate business 4.5 8.0 1.4 12.0 6.8 2.7 -1.1 7.1 4.9 16.3 11

 12 Federal government 3.7 -2.3 8.0 0.1 3.2 -1.7 -4.6 -6.7 -2.4 -3.8 12

 13 State and local governments 3.8 0.9 3.8 4.8 3.5 2.4 2.4 3.1 3.6 5.4 13

 14 Property-casualty insurance companies 2.2 4.9 3.6 6.8 2.8 2.0 1.9 -0.1 1.7 2.2 14

 15 ABS issuers 0.9 0.9 1.8 1.7 1.9 8.7 4.1 4.3 2.6 6.8 15

 16 Rest of the world 0.2 1.4 0.1 2.1 2.6 6.3 -1.8 1.7 1.0 1.5 16

 17 Discrepancy 5.1 6.0 -11.0 -32.4 -1.0 -5.2 47.2 21.9 5.4 7.0 17

F.224 Security Credit

Billions of dollars

 1 Net change in liabilities 48.5 10.8 -40.3 5.7 11.2 0.7 53.1 -8.3 56.5 -2.8 1

 2 Household sector 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 2

 3 Brokers and dealers 29.6 4.0 -24.0 4.0 12.1 4.5 36.9 -6.7 33.9 -1.7 3

 4 Net change in assets 48.5 10.8 -40.3 5.7 11.2 0.7 53.1 -8.3 56.5 -2.8 4

 5 Household sector 21.9 9.2 -18.8 4.0 10.2 9.6 30.6 -9.9 26.8 3.4 5

 6 U.S.-chartered depository institutions 4.6 -5.5 -2.3 0.0 2.0 -5.4 2.0 2.0 6.1 -3.9 6

 7 Foreign banking offices in U.S. 3.1 0.3 -2.8 -0.1 -0.1 0.3 4.3 1.2 1.0 -1.3 7

 8 Brokers and dealers 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 8

F.225 Life Insurance Reserves

Billions of dollars

 1 Net change in liabilities 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 1

 2 Federal government 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 2

 3 Life insurance companies 10.4 17.2 25.7 24.9 28.4 25.3 25.6 27.7 35.7 34.3 3

 4 Net change in assets 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 4

 5 Households 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7
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64 Historical Annuals, 1985-1994, March 12, 2015

F.226 Pension Entitlements

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 231.0 230.1 225.1 284.5 267.3 300.3 301.8 333.8 359.3 338.9 1

 2 Life insurance companies (1) 55.6 63.4 30.9 69.2 52.3 79.7 38.8 82.4 81.4 45.5 2

 3 Private pension funds (2) 72.0 56.5 81.1 96.3 82.6 80.7 114.6 84.9 110.6 120.6 3

 4 Federal government retirement funds (3) 59.3 62.4 61.8 64.2 66.9 68.6 71.0 74.1 72.1 72.7 4

 5 State and local govt. retirement funds 44.1 47.8 51.2 54.8 65.5 71.4 77.5 92.4 95.3 100.2 5

 6 Net change in assets (Households) (4) 231.0 230.1 225.1 284.5 267.3 300.3 301.8 333.8 359.3 338.9 6

 Memo:

 7 Individual Retirement Accounts (IRAs) at: (5) 72.8 81.7 73.2 55.3 56.9 96.4 95.6 82.9 86.7 85.6 7

 8 U.S.-chartered depository institutions 32.2 25.9 20.0 23.1 22.9 19.0 12.8 -8.8 -12.0 -7.4 8

 9 Credit unions 4.2 5.9 2.9 1.5 1.9 3.2 3.6 0.9 -0.3 -0.0 9

 10 Life insurance companies 7.8 5.6 7.9 8.0 -1.3 4.4 7.1 4.9 12.6 13.2 10

 11 Money market mutual funds 1.4 2.0 5.0 5.0 9.0 13.0 0.0 3.0 6.0 14.0 11

 12 Mutual funds 11.1 19.0 15.9 8.0 10.2 9.8 41.2 39.0 58.7 11.8 12

 13 Other self-directed accounts 16.1 23.3 21.6 9.6 14.3 47.0 30.8 43.9 21.7 54.0 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

 1 Net change in taxes payable by all 1.3 6.9 3.6 0.8 -2.1 2.1 -7.9 7.3 5.8 0.2 1

 businesses

 2 Nonfinancial corporate business -3.2 3.8 5.1 -3.5 -6.1 0.0 -9.4 6.5 5.4 -0.4 2

 3 Nonfinancial noncorporate business 3.4 1.7 0.6 2.9 4.7 0.6 0.5 0.6 -1.7 1.4 3

 4 U.S.-chartered depository institutions 0.2 0.3 -2.4 0.2 -1.3 -0.1 -1.4 -0.2 -2.9 -2.0 4

 5 Property-casualty insurance companies 0.1 0.2 0.5 0.3 -0.7 0.7 0.7 -1.7 2.1 -0.4 5

 6 Life insurance companies 0.4 0.7 0.2 0.5 0.9 0.5 1.1 1.4 1.6 1.0 6

 7 Finance companies 0.0 0.0 0.3 0.2 0.4 0.4 0.5 0.6 0.8 0.8 7

 8 Brokers and dealers 0.3 0.2 -0.6 0.1 0.1 0.1 0.2 0.0 0.5 -0.2 8

 9 Net change in business taxes receivable -2.0 1.0 -5.7 -3.2 -0.8 -5.8 -5.2 -0.4 -5.8 -5.0 9

 10 Federal government -6.0 -1.7 -6.2 -6.8 -4.3 -5.2 -7.0 -0.4 -3.1 -6.3 10

 11 State and local governments 4.0 2.7 0.5 3.6 3.5 -0.5 1.8 -0.1 -2.7 1.3 11

 12 Discrepancy 3.4 5.9 9.3 3.9 -1.3 7.9 -2.7 7.7 11.6 5.2 12

F.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment -19.5 -8.5 -28.3 -33.4 -36.2 20.4 27.3 29.7 45.7 44.0 1

 2 Nonfinancial noncorporate business -19.6 -9.7 -27.5 -33.5 -34.5 21.1 26.9 29.6 44.8 45.1 2

 3 Brokers and dealers 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 3
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Historical Annuals, 1985-1994, March 12, 2015 65

F.229 Direct Investment

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 14.8 19.1 31.2 16.1 38.8 32.8 39.1 44.5 84.0 80.2 1

 2 Equity 18.0 15.2 28.2 11.3 24.9 36.4 41.2 36.6 61.3 64.7 2

 3 Equity (other than reinvested earnings) -1.7 1.1 4.9 -6.7 6.4 8.7 17.7 14.6 24.6 33.7 3

 4 Reinvested earnings 19.7 14.0 23.3 18.0 18.5 27.6 23.5 21.9 36.7 31.0 4

 5 Of which: Current-cost adjustment 5.5 4.4 4.9 3.9 5.8 6.2 5.2 5.6 6.7 6.9 5

 6 Intercompany debt (2) -3.2 3.9 3.0 4.8 13.9 -3.6 -2.1 7.9 22.7 15.5 6

 7 U.S. parents’ claims -0.5 2.2 5.3 4.1 24.5 9.4 -1.8 10.9 26.5 25.3 7

 8 Less: U.S. parents’ liabilities -1.4 -6.6 -1.5 -7.0 6.0 8.6 1.5 -0.8 3.8 9.8 8

 9 Asset: Nonfinancial corporate business 14.3 19.0 29.7 11.8 26.1 35.6 38.1 40.0 57.9 78.5 9

 10 Of which: Current-cost adjustment 5.5 4.4 4.9 3.9 5.8 6.2 5.2 5.6 6.7 6.9 10

 11 U.S.-chartered depository institutions 0.3 -1.7 -1.2 -0.1 0.2 0.2 -1.0 2.0 2.0 2.6 11

 12 Property-casualty insurance companies -0.1 0.7 1.8 2.7 1.6 1.4 -0.3 -2.7 2.8 1.7 12

 13 Life insurance companies 0.1 -0.2 0.0 0.0 -0.1 0.6 0.6 0.3 -0.1 0.6 13

 14 Finance companies 0.1 1.2 -0.7 2.3 11.0 -5.4 1.3 3.7 20.4 0.7 14

 15 Brokers and dealers 0.1 -0.0 1.7 -0.7 0.0 0.3 0.5 1.2 1.0 -3.9 15

 Foreign direct investment in U.S.:

 16 Liab.: Nonfinancial corporate business 17.5 31.9 52.5 69.8 62.4 59.1 -1.3 6.7 20.3 46.1 16

 17 Of which: Current-cost adjustment -0.7 -0.7 -1.1 -0.8 -0.7 0.1 0.4 0.6 0.7 1.0 17

 18 Nonfinancial noncorporate business 0.6 1.1 0.6 0.8 1.4 0.7 -0.0 0.1 0.0 0.0 18

 19 Foreign banking offices in U.S. 1.4 1.6 1.7 2.7 2.3 0.9 2.6 2.7 2.2 3.4 19

 20 Property-casualty insurance companies 0.3 0.5 1.0 1.2 2.2 2.5 3.5 0.5 0.7 1.8 20

 21 Life insurance companies 0.7 2.2 0.9 1.3 1.4 1.9 1.0 1.2 0.2 1.0 21

 22 Finance companies -0.5 2.1 -0.2 -0.5 7.2 -3.5 1.3 1.7 7.1 0.4 22

 23 Brokers and dealers -0.3 0.6 2.1 0.9 1.4 0.1 2.0 0.0 16.5 0.9 23

 24 Funding corporations 0.0 -4.4 -0.1 -18.5 -10.0 -13.2 14.2 6.9 4.3 -7.5 24

 25 Asset: Rest of the world (1) 19.7 35.4 58.5 57.7 68.3 48.5 23.2 19.8 51.4 46.1 25

 26 Equity 14.6 24.1 33.8 46.2 43.7 42.2 27.5 20.0 22.6 42.1 26

 27 Equity (other than reinvested earnings) 15.2 25.1 34.3 45.0 51.8 56.2 45.8 31.6 29.7 37.2 27

 28 Reinvested earnings -0.7 -1.0 -0.5 1.1 -8.1 -14.1 -18.3 -11.6 -7.1 4.9 28

 29 Of which: Current-cost adjustment -0.7 -0.7 -1.1 -0.8 -0.7 0.1 0.4 0.6 0.7 1.0 29

 30 Intercompany debt 5.2 11.3 24.7 11.6 24.6 6.3 -4.3 -0.2 28.7 4.0 30

 31 U.S. affiliates’ liabilities 8.9 13.4 31.0 17.8 26.1 20.5 5.5 11.1 23.8 4.1 31

 32 Less: U.S. affiliates’ claims 3.8 2.1 6.3 6.2 1.5 14.2 9.8 11.3 -5.0 0.1 32

 Memo:

 Direct investment, asset/liability presentation:

 33 Net U.S. acquisition of direct investment assets 21.2 19.5 39.8 21.7 51.0 59.9 49.3 58.8 82.8 90.0 33

 34 Equity (line 2) 18.0 15.2 28.2 11.3 24.9 36.4 41.2 36.6 61.3 64.7 34

 35 Intercompany debt 3.2 4.4 11.6 10.4 26.0 23.6 8.1 22.2 21.5 25.3 35

 36 U.S. parents’ claims (line 7) -0.5 2.2 5.3 4.1 24.5 9.4 -1.8 10.9 26.5 25.3 36

 37 U.S. affiliates’ claims (line 32) 3.8 2.1 6.3 6.2 1.5 14.2 9.8 11.3 -5.0 0.1 37

 38 Net U.S. incurrence of direct investment liabilities 22.1 30.9 63.2 56.9 75.8 71.2 34.5 30.3 50.2 55.9 38

 39 Equity (line 26) 14.6 24.1 33.8 46.2 43.7 42.2 27.5 20.0 22.6 42.1 39

 40 Intercompany debt 7.5 6.8 29.4 10.7 32.2 29.1 7.0 10.3 27.6 13.8 40

 41 U.S. parents’ liabilities (line 8) -1.4 -6.6 -1.5 -7.0 6.0 8.6 1.5 -0.8 3.8 9.8 41

 42 U.S. affiliates’ liabilities (line 31) 8.9 13.4 31.0 17.8 26.1 20.5 5.5 11.1 23.8 4.1 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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66 Historical Annuals, 1985-1994, March 12, 2015

F.230 Total Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 499.3 181.7 259.2 486.7 431.7 157.3 287.5 310.6 202.8 268.8 1

 2 Household sector 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 2

 3 Nonfinancial corporate business 220.7 12.1 81.0 227.9 227.7 28.4 91.1 71.9 0.6 -25.4 3

 4 Nonfinancial noncorporate business 29.1 8.5 -6.4 17.4 20.9 -3.3 3.6 13.8 5.1 16.1 4

 5 Federal government 59.9 65.6 51.4 72.2 80.9 48.5 82.1 69.7 67.9 71.4 5

 6 State and local governments -9.9 -21.0 -17.6 9.7 15.7 22.5 26.4 29.5 32.1 38.3 6

 7 Monetary authority 0.1 -1.1 1.0 1.1 -0.6 -1.0 -0.3 -0.4 0.9 0.9 7

 8 U.S.-chartered depository institutions 47.6 27.7 19.0 59.6 15.1 10.1 -1.4 42.9 61.1 104.7 8

 9 Foreign banking offices in U.S. 0.7 5.6 10.5 17.3 7.2 1.0 4.1 4.8 -7.8 14.2 9

 10 Banks in U.S.-affiliated areas 1.7 -2.8 -1.9 0.1 0.3 0.8 -1.6 0.6 1.1 2.3 10

 11 Credit unions -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 11

 12 Property-casualty insurance companies 37.0 42.2 41.4 30.1 31.8 24.0 12.0 22.6 15.2 14.5 12

 13 Life insurance companies 13.4 16.4 38.0 9.1 20.9 3.0 30.2 -9.6 6.0 38.1 13

 14 Government-sponsored enterprises 8.8 8.2 -2.4 1.1 6.3 4.6 7.3 12.5 -4.9 -24.9 14

 15 Finance companies 14.2 -1.1 29.6 17.6 -2.3 7.8 15.5 -3.3 4.3 1.9 15

 16 REITs 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 16

 17 Brokers and dealers 7.2 6.4 -1.0 0.9 -8.3 4.9 2.0 13.1 15.5 0.8 17

 18 Holding companies 6.1 13.4 6.4 8.2 5.0 -0.3 -15.8 10.2 14.0 -0.3 18

 19 Funding corporations 60.4 3.4 10.0 12.1 13.2 6.1 22.5 36.0 -13.0 2.1 19

 20 Rest of the world 1.9 -0.8 -2.1 -0.7 -0.7 1.0 8.2 -4.3 3.8 9.4 20

 21 Net change in assets 295.6 300.5 360.7 483.1 309.0 318.8 282.5 297.2 383.9 445.6 21

 22 Household sector 31.3 20.7 28.3 21.0 17.1 20.0 10.7 18.3 13.3 14.7 22

 23 Nonfinancial corporate business 108.9 89.1 132.4 220.0 84.0 78.0 2.0 34.9 179.1 83.2 23

 24 Nonfinancial noncorporate business 4.7 11.0 2.1 15.1 9.3 -3.2 9.4 5.0 16.1 19.2 24

 25 State and local governments 6.0 1.7 3.9 -0.5 1.4 1.5 3.6 -3.3 -34.3 48.6 25

 26 Federal government 1.4 0.5 1.3 1.0 15.4 34.3 36.1 15.4 -3.8 3.2 26

 27 Monetary authority 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 27

 28 U.S.-chartered depository institutions 24.0 16.6 8.5 26.8 5.9 23.0 -13.9 -3.5 0.9 67.5 28

 29 Foreign banking offices in U.S. -2.5 3.4 3.1 4.7 4.1 2.7 5.0 3.2 -0.7 13.2 29

 30 Banks in U.S.-affiliated areas -0.8 -2.1 -0.6 1.4 0.9 0.1 -0.5 -0.7 -0.4 -0.1 30

 31 Credit unions 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 31

 32 Life insurance companies 5.5 7.2 13.0 8.6 8.9 -4.7 10.6 -3.1 -0.9 6.2 32

 33 Private pension funds 16.9 50.5 74.9 50.2 28.0 37.1 55.7 50.9 0.7 23.6 33

 34 Federal government retirement funds 59.3 62.4 60.8 62.5 64.7 65.6 67.8 69.8 67.2 67.5 34

 35 State and local govt. retirement funds -9.8 -20.2 -17.4 11.3 19.9 24.0 23.5 29.5 31.5 38.6 35

 36 Money market mutual funds 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 36

 37 Mutual funds 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 37

 38 Government-sponsored enterprises -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 38

 39 Finance companies 2.1 1.0 6.9 0.4 -19.5 3.5 9.8 -10.7 -11.5 -17.0 39

 40 REITs 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 40

 41 Brokers and dealers 9.6 10.3 -4.4 11.1 23.0 29.0 33.8 51.4 48.6 28.7 41

 42 Holding companies 28.5 31.4 27.3 21.1 16.9 3.2 5.9 30.2 44.9 30.6 42

 43 Funding corporations 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 43

 44 Discrepancy 203.6 -118.8 -101.5 3.6 122.7 -161.5 5.0 13.4 -181.1 -176.8 44
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Historical Annuals, 1985-1994, March 12, 2015 67

F.231 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 1

 2 Asset: Federal government 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 3

 4 Asset: U.S.-chartered depository institutions 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 4

 Equity in govt.-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 0.8 0.5 1.3 2.0 -0.6 -2.5 -0.7 -0.2 1.6 1.8 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) -0.0 -0.0 -0.0 0.0 -0.1 -0.0 0.0 -0.0 0.0 0.0 6

 7 Nonfinancial noncorporate (FCS) -0.3 -0.6 -0.5 0.1 -0.7 -0.2 0.2 -0.1 0.3 0.2 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 1.1 1.2 1.8 1.9 0.2 -2.3 -0.9 -0.1 1.3 1.6 9

 10 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 Holding company net transactions with subsidiaries:

 12 Liab.: U.S.-chartered depository institutions 15.1 18.0 23.2 23.0 10.4 17.3 14.6 36.8 30.1 15.5 12

 13 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Finance companies 12.8 8.3 -5.3 -19.6 -1.9 -4.1 -6.4 -0.0 6.4 4.0 15

 16 Brokers and dealers 0.1 0.1 11.5 20.1 8.0 -18.5 -5.8 -2.6 8.0 0.7 16

 17 Rest of the world 0.5 -1.3 -3.5 -1.7 -1.8 -0.4 5.7 -5.8 2.3 7.8 17

 18 Asset: Holding companies 28.6 25.1 26.0 21.8 14.7 -5.7 8.1 28.4 46.7 28.1 18

 NFC investment in finance company subsidiaries:

 19 Liab.: Finance companies 4.7 2.1 -6.2 -3.0 0.4 5.5 2.1 2.0 -5.2 2.2 19

 20 Asset: Nonfinancial corporate business 4.7 2.1 -6.2 -3.0 0.4 5.5 2.1 2.0 -5.2 2.2 20

 Funding corporations’ investment in subsidiaries:

 21 Liab.: Foreign banking offices in U.S. 2.2 4.2 7.2 12.8 2.6 -1.8 -0.5 3.9 -6.6 -0.5 21

 22 Brokers and dealers 8.5 3.4 2.4 6.8 -0.2 5.4 10.7 19.2 17.2 16.1 22

 23 Asset: Funding corporations 10.7 7.5 9.6 19.6 2.5 3.6 10.2 23.0 10.6 15.6 23

 Equity investment under Public-Private Inv. Program:

 24 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Asset: Households (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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68 Historical Annuals, 1985-1994, March 12, 2015

F.232 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 1

 2 Asset: Federal government -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 4.5 3.6 -6.6 -1.3 6.9 4.8 1.0 -0.9 -7.0 -7.8 6

 7 Asset: U.S.-chartered depository institutions 4.5 3.6 -6.6 -1.3 6.9 4.8 1.0 -0.9 -7.0 -7.8 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 8

 9 Asset: Life insurance companies 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 4.1 4.1 5.3 6.3 5.3 5.6 5.9 8.5 7.6 8.1 10

 11 Accident and health 2.3 2.5 2.7 2.9 3.0 3.6 4.8 6.9 6.2 6.6 11

 12 Policy dividend accumulation 1.2 0.5 1.0 1.2 1.6 1.3 -0.2 0.6 0.5 0.1 12

 13 Contract claims 0.6 1.1 1.6 2.2 0.7 0.7 1.3 1.0 0.9 1.4 13

 14 Asset: Household sector 4.1 4.1 5.3 6.3 5.3 5.6 5.9 8.5 7.6 8.1 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 37.0 42.2 41.4 30.1 31.8 24.0 12.0 22.6 15.2 14.5 15

 16 Asset: Household sector 27.2 16.7 23.0 14.7 11.8 14.4 4.8 9.8 5.7 6.6 16

 17 Nonfinancial corporate business 4.3 18.9 23.5 15.0 14.3 13.4 2.2 13.7 6.9 5.9 17

 18 Nonfinancial noncorporate business 5.5 6.6 -5.1 0.4 5.6 -3.7 5.0 -0.9 2.6 2.0 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 0.0 13.9 33.5 1.9 12.3 9.6 20.8 -19.6 -6.9 30.6 19

 20 Asset: Private pension funds 0.0 13.9 33.5 1.9 12.3 9.6 20.8 -19.6 -6.9 30.6 20

 21 State and local government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 Pension fund contributions payable:

 22 Liab.: Nonfinancial corporate business 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 22

 23 Asset: Private pension funds 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 23

 Securities borrowed (net):

 24 Liab.: Funding corporations 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 24

 25 Asset: Brokers and dealers 1.5 5.1 3.1 8.0 16.1 32.1 31.5 50.6 43.6 24.6 25

 Nonmarketable government securities:

 26 Liab.: Federal government 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 26

 27 Asset: Federal government retirement funds 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 27

 Retiree health care funds (2):

 28 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 Claims of pension fund on sponsor (3):

 30 Liab.: Nonfinancial corporate business -11.3 31.5 45.7 29.2 22.6 55.2 24.7 73.5 7.7 -18.4 30

 31 Federal government 19.4 32.9 30.5 29.8 30.2 32.2 29.5 30.0 30.1 29.9 31

 32 State and local governments -9.9 -21.0 -17.6 9.7 15.7 22.5 26.4 29.5 32.1 38.3 32

 33 Asset: Private pension funds -11.3 31.5 45.7 29.2 22.6 55.2 24.7 73.5 7.7 -18.4 33

 34 Federal government retirement funds 19.4 32.9 30.5 29.8 30.2 32.2 29.5 30.0 30.1 29.9 34

 35 State and local govt. retirement funds -9.9 -21.0 -17.6 9.7 15.7 22.5 26.4 29.5 32.1 38.3 35

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

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.

(3) Assets of the household sector.
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Historical Annuals, 1985-1994, March 12, 2015 69

F.233 Unidentified Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Net change in liabilities 361.7 5.3 58.7 299.8 230.1 -70.7 63.6 11.5 -25.1 49.8 1

 2 Nonfinancial corporate business 226.2 -19.4 33.8 200.0 197.8 -32.8 54.4 -11.5 -19.3 -18.7 2

 3 Nonfinancial noncorporate business 29.1 8.5 -6.4 17.4 20.9 -3.3 3.6 13.8 5.1 16.1 3

 4 Federal government 0.6 3.2 -9.4 9.6 16.2 -17.1 14.3 -0.1 0.7 3.9 4

 5 Monetary authority -0.1 -1.2 0.8 1.0 -0.8 -1.2 -0.6 -0.8 0.6 0.6 5

 6 U.S.-chartered depository institutions 32.5 9.7 -4.2 36.6 4.7 -7.3 -16.0 6.1 31.1 89.2 6

 7 Foreign banking offices in U.S. -1.5 1.3 1.4 2.6 2.9 3.6 5.1 1.4 -0.2 14.6 7

 8 Banks in U.S.-affiliated areas 1.7 -2.8 -1.9 0.1 0.3 0.8 -1.6 0.6 1.1 2.3 8

 9 Credit unions -0.1 0.2 0.9 0.4 -0.6 0.2 0.6 0.1 0.5 1.4 9

 10 Life insurance companies 9.3 -1.6 -0.9 0.9 3.3 -12.2 3.6 1.5 5.3 -0.5 10

 11 Government-sponsored enterprises 3.5 4.1 2.9 0.5 -0.0 2.3 6.9 13.5 0.5 -19.0 11

 12 Finance companies -3.4 -11.5 41.1 40.2 -0.8 6.4 19.8 -5.3 3.1 -4.3 12

 13 REITs 0.1 0.1 0.4 2.3 -1.4 -0.9 1.6 0.6 -0.1 2.9 13

 14 Brokers and dealers -1.4 2.9 -14.9 -26.0 -16.1 17.9 -2.9 -3.5 -9.7 -15.9 14

 15 Holding companies 6.1 13.4 6.4 8.2 5.0 -0.3 -15.8 10.2 14.0 -0.3 15

 16 Funding corporations 58.9 -1.7 6.9 4.0 -2.9 -26.0 -9.0 -14.6 -56.6 -22.5 16

 17 Net change in assets 158.1 124.1 160.2 296.2 107.4 90.7 58.6 -1.8 156.1 226.6 17

 18 Nonfinancial corporate business 99.9 68.1 115.1 207.9 69.3 59.1 -2.3 19.2 177.3 75.1 18

 19 Nonfinancial noncorporate business -0.5 4.9 7.6 14.6 4.4 0.8 4.2 6.0 13.2 17.0 19

 20 Federal government 0.0 0.0 0.0 0.0 14.3 32.8 33.6 13.9 -5.3 1.7 20

 21 State and local governments 6.0 1.7 3.9 -0.5 1.4 1.5 3.6 -3.3 -34.3 48.6 21

 22 Monetary authority 1.0 1.7 2.2 0.4 7.4 -1.2 -2.3 -2.2 2.6 2.6 22

 23 U.S.-chartered depository institutions 18.3 11.7 13.2 26.2 -1.3 20.3 -14.2 -2.8 6.3 73.4 23

 24 Foreign banking offices in U.S. -2.5 3.4 3.1 4.7 4.1 2.7 5.0 3.2 -0.7 13.2 24

 25 Banks in U.S.-affiliated areas -0.8 -2.1 -0.6 1.4 0.9 0.1 -0.5 -0.7 -0.4 -0.1 25

 26 Credit unions 1.2 2.9 -0.9 0.0 1.1 2.0 4.6 3.7 1.7 -3.4 26

 27 Life insurance companies 5.4 8.6 11.8 8.2 8.0 -4.8 11.4 -3.2 -1.4 5.6 27

 28 Private pension funds 22.4 5.1 -5.8 20.4 -14.2 -33.8 -1.8 -13.0 -12.4 -0.2 28

 29 State and local govt. retirement funds 0.1 0.8 0.2 1.6 4.2 1.5 -2.9 0.0 -0.6 0.3 29

 30 Money market mutual funds 0.3 1.6 0.8 0.3 2.9 -3.5 3.7 5.0 11.0 4.1 30

 31 Mutual funds 0.0 1.7 1.1 -0.3 3.6 1.7 -0.7 -5.2 0.3 2.5 31

 32 Government-sponsored enterprises -3.1 1.9 6.9 7.5 10.0 2.7 6.3 -12.3 5.6 -5.2 32

 33 Finance companies 2.1 1.0 6.9 0.4 -19.5 3.5 9.8 -10.7 -11.5 -17.0 33

 34 REITs 0.2 -0.4 0.9 0.8 1.6 -0.4 1.1 -2.3 1.4 1.8 34

 35 Brokers and dealers 8.1 5.1 -7.5 3.1 6.9 -3.1 2.3 0.8 5.0 4.2 35

 36 Holding companies -0.1 6.3 1.3 -0.7 2.2 8.9 -2.2 1.8 -1.8 2.5 36

 37 Discrepancy 203.6 -118.8 -101.5 3.6 122.7 -161.5 5.0 13.4 -181.1 -176.8 37
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F.11 Sector Discrepancies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 All sectors 133.5 -179.3 -151.7 -31.0 93.9 -256.7 -94.2 -83.9 -299.5 -231.3 1

 2 Household sector -42.4 -203.9 -144.3 -123.2 -3.4 -219.2 -56.5 -58.0 -122.0 -100.7 2

 3 Nonfinancial corporate business 166.5 38.3 42.2 101.6 128.1 13.2 -17.8 3.7 -130.7 -51.5 3

 4 Federal government 17.7 24.9 1.7 39.7 35.9 -18.1 13.9 33.1 12.6 3.7 4

 5 State and local governments -18.3 -28.9 -19.6 10.1 -26.5 -19.6 -0.2 -28.4 9.3 -67.6 5

 6 Domestic financial sectors -22.8 -42.7 -48.6 -27.1 -88.3 -36.8 -30.3 11.4 -79.7 -8.2 6

 7 Monetary authority -1.8 -2.6 -2.4 -0.0 -1.8 -2.6 -1.0 0.4 -0.7 -3.4 7

 8 U.S.-chartered depository institutions 12.4 -3.1 -5.2 13.4 -11.5 11.1 40.9 28.8 -33.8 -10.8 8

 9 Foreign banking officed in U.S. -0.1 -0.4 7.2 22.1 -4.0 -14.0 -28.6 -4.8 -20.2 25.7 9

 10 Banks in U.S.-affiliated areas 0.3 -0.2 -0.8 -0.7 -0.3 -0.3 -0.6 -0.6 -0.7 0.3 10

 11 Credit unions -0.4 -1.1 -0.8 -0.9 -0.5 -0.3 0.2 1.2 1.0 2.0 11

 12 Property-casualty insurance companies -1.8 -4.3 -7.0 -14.9 -13.9 -8.4 -16.8 -16.8 -15.2 -35.5 12

 13 Life insurance companies -13.9 -13.6 -18.9 -13.6 -18.0 -12.7 -19.6 -4.6 -30.5 -10.8 13

 14 Mutual funds 1.1 4.0 -6.0 -4.4 -6.2 -1.2 2.6 3.1 4.1 -11.0 14

 15 Government-sponsored enterprises 2.5 0.4 0.5 0.8 -0.3 -3.6 -2.4 -1.6 0.3 -2.2 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 16

 17 Finance companies -5.9 -8.0 -8.6 -12.4 -10.8 -1.8 8.7 12.8 1.3 14.6 17

 18 REITs 1.1 2.6 0.5 2.2 -0.8 1.4 2.0 0.7 9.1 19.7 18

 19 Brokers and dealers -8.2 -9.5 -0.5 -12.0 -13.4 1.0 -12.5 -3.0 8.0 5.1 19

 20 Holding companies -8.0 -7.0 -6.7 -6.5 -6.7 -5.3 -3.3 -3.9 -2.2 -1.7 20

 21 Rest of the world 32.8 33.1 16.9 -32.1 48.2 23.8 -3.3 -45.6 11.2 -7.1 21

F.12 Instrument Discrepancies

Billions of dollars

 1 All types 133.5 -179.3 -151.7 -31.0 93.9 -256.7 -94.2 -83.9 -299.5 -231.3 1

 2 Treasury currency -0.2 -0.0 -0.1 -0.1 -0.3 0.2 -0.6 -0.2 -0.2 -0.2 2

 3 Foreign deposits 5.7 20.5 12.2 0.5 38.4 25.9 -24.0 -2.8 -5.8 42.9 3

 4 Net interbank transactions -1.6 -15.3 2.1 -1.6 -6.9 -0.2 13.4 -6.4 6.2 7.4 4

 5 Security repurchase agreements -31.9 10.2 -21.1 -6.1 1.9 -42.2 -33.5 -6.7 21.8 30.2 5

 6 Mail floats 2.1 -9.5 0.4 2.5 6.2 11.8 -8.6 2.2 -2.8 -7.6 6

 7 Federal government 1.3 -0.6 -0.0 1.6 8.4 3.3 -13.1 0.7 -1.5 -4.8 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 8

 9 Private domestic 0.7 -8.9 0.4 0.8 -2.2 8.5 4.5 1.6 -1.3 -2.8 9

 10 Trade credit 5.1 6.0 -11.0 -32.4 -1.0 -5.2 47.2 21.9 5.4 7.0 10

 11 Taxes payable 3.4 5.9 9.3 3.9 -1.3 7.9 -2.7 7.7 11.6 5.2 11

 12 Miscellaneous 203.6 -118.8 -101.5 3.6 122.7 -161.5 5.0 13.4 -181.1 -176.8 12

 13 Nonfinancial -52.7 -78.2 -42.1 -1.2 -65.9 -93.3 -90.4 -113.0 -154.5 -139.3 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) 51.3 76.7 40.6 -0.5 64.2 91.3 88.4 110.9 152.3 136.8 14

 15 Contr. for govt. soc. insur., U.S. affiliated areas 1.4 1.5 1.5 1.7 1.7 2.0 2.1 2.1 2.2 2.5 15
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Historical Annuals, 1985-1994, March 12, 2015 71

L.100 Domestic Nonfinancial Sectors (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 14689.4 16182.8 17247.0 18960.4 20616.4 21394.4 23074.4 24162.7 25892.3 26994.3 1

 2 U.S. official reserve assets 25.1 28.0 29.1 27.7 32.3 39.7 39.1 38.8 40.2 41.4 2

 3 Foreign deposits 23.8 28.0 26.0 32.3 26.6 28.1 31.0 31.4 30.3 34.5 3

 4 Checkable deposits and currency 592.0 714.5 711.7 748.9 754.7 750.2 845.5 940.1 1037.4 1007.8 4

 5 Time and savings deposits 2271.8 2410.7 2555.7 2742.3 2824.7 2868.4 2780.5 2551.9 2447.1 2436.9 5

 6 Money market fund shares 210.8 253.3 274.9 288.6 367.3 415.7 439.2 412.9 410.0 431.2 6

 7 Security repurchase agreements 77.5 84.1 94.3 94.9 108.8 113.9 120.1 128.1 136.3 120.8 7

 8 Credit market instruments 1890.7 2002.6 2210.7 2492.3 2644.3 2938.4 3082.0 3166.3 3310.0 3673.5 8

 9 Open market paper 66.9 66.3 70.5 107.9 103.7 111.5 82.2 83.8 102.3 110.8 9

 10 Treasury securities 587.8 637.7 707.4 796.0 827.4 964.5 1026.5 1118.9 1183.1 1310.0 10

 11 Agency- and GSE-backed securities 132.5 129.3 143.7 189.5 246.6 271.6 283.3 297.8 252.3 393.9 11

 12 Municipal securities 430.2 446.3 546.2 613.1 656.5 684.0 758.3 728.5 706.5 661.1 12

 13 Corporate and foreign bonds 88.1 124.4 141.7 170.6 211.1 261.1 275.9 296.5 448.8 577.6 13

 14 Other loans and advances 197.9 203.6 193.8 169.3 162.1 160.2 152.7 152.7 142.2 144.2 14

 15 Mortgages 344.7 347.8 353.4 385.2 373.2 418.3 440.1 422.4 397.1 382.5 15

 16 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.6 93.5 16

 17 Corporate equities 1229.5 1494.3 1463.3 1758.4 2150.7 1966.1 2765.4 3101.9 3446.3 3304.8 17

 18 Mutual fund shares 224.6 394.4 437.4 449.9 526.3 526.1 669.2 835.5 1149.1 1156.7 18

 19 Trade receivables 879.4 891.2 968.2 1075.6 1131.2 1163.8 1154.7 1185.8 1238.0 1327.9 19

 20 Security credit 49.8 59.0 41.1 45.1 55.3 64.9 95.5 85.5 112.3 115.7 20

 21 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 21

 22 Pension entitlements 2847.1 3130.2 3400.4 3701.0 4141.8 4435.3 4847.0 5342.8 5774.4 6096.0 22

 23 Taxes payable 38.1 47.9 49.3 58.1 61.0 59.1 54.8 53.8 54.5 55.5 23

 24 Equity in noncorpate business 2506.9 2625.7 2739.2 2881.7 3000.5 3056.7 3015.8 2998.0 3137.4 3342.6 24

 25 U.S. direct investment abroad 377.1 402.3 462.5 484.7 497.9 556.2 580.3 586.4 607.1 685.6 25

 26 Miscellaneous assets 1181.0 1334.2 1473.7 1743.2 1927.8 2020.0 2135.8 2255.8 2477.1 2643.2 26

 27 Total liabilities 10255.1 11128.4 11968.3 13072.8 14096.5 14959.5 15646.7 16649.5 17561.4 18408.8 27

 28 U.S. official reserve assets 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 28

 29 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 29

 30 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 30

 31 Credit market instruments 7111.8 7953.5 8656.8 9439.6 10141.0 10827.2 11296.4 11813.9 12496.1 13141.4 31

 32 Open market paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 32

 33 Treasury securities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 33

 34 Agency- and GSE-backed securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 34

 35 Municipal securities 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 35

 36 Corporate and foreign bonds 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 36

 37 Depository institution loans n.e.c. 604.3 669.1 682.6 733.6 776.0 770.3 716.8 698.2 704.1 775.6 37

 38 Other loans and advances 431.1 470.8 502.4 532.3 583.7 653.4 602.3 615.4 586.0 638.5 38

 39 Mortgages 2366.0 2652.8 2953.6 3270.7 3522.9 3777.3 3927.9 4038.2 4165.9 4320.3 39

 40 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 40

 41 Trade payables 727.6 736.9 808.6 899.0 959.7 1004.4 1046.6 1103.7 1165.6 1271.4 41

 42 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 42

 43 Life insurance reserves 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 43

 44 Taxes payable 60.6 66.1 71.7 71.1 69.7 70.3 61.4 68.5 72.1 73.1 44

 45 Foreign direct investment in U.S. 218.8 262.2 319.8 400.8 463.3 517.1 515.2 528.0 550.5 602.9 45

 46 Miscellaneous liabilities 2044.4 2008.7 2023.3 2171.1 2367.6 2444.9 2614.0 3024.5 3141.7 3183.3 46

(1) Sum of domestic nonfinancial sectors shown on tables L.101 through L.107.
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72 Historical Annuals, 1985-1994, March 12, 2015

L.101 Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 10855.2 12045.0 12814.4 14063.5 15404.7 15951.8 17376.8 18291.7 19617.9 20410.6 1

 2 Deposits 2643.7 2919.0 3079.0 3282.6 3449.2 3527.5 3519.0 3362.2 3288.7 3245.8 2

 3 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 3

 4 Checkable deposits and currency 344.8 461.9 460.9 460.5 462.2 450.8 505.0 616.4 667.5 636.4 4

 5 Time and savings deposits 2094.7 2213.2 2352.4 2538.4 2624.0 2673.9 2591.8 2364.7 2242.0 2217.5 5

 6 Money market fund shares 196.3 235.1 256.0 273.0 351.1 389.4 407.7 365.5 363.5 373.1 6

 7 Credit market instruments 953.5 988.2 1162.2 1404.9 1498.4 1749.0 1812.1 1879.1 1989.1 2388.6 7

 8 Open market paper 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 8

 9 Treasury securities 282.2 270.9 308.2 393.5 394.9 503.8 535.3 627.1 672.9 870.9 9

 10 Agency- and GSE-backed securities 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.4 10

 11 Municipal securities 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 640.8 594.1 11

 12 Corporate and foreign bonds 80.1 114.4 129.7 157.6 196.1 245.1 257.9 275.6 422.3 545.7 12

 13 Other loans and advances (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Mortgages 116.2 112.6 120.2 122.5 131.4 141.4 143.1 137.1 129.7 120.8 14

 15 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Corporate equities (3) 1229.5 1494.0 1462.6 1756.7 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 16

 17 Mutual fund shares 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 17

 18 Security credit 49.8 59.0 41.1 45.1 55.3 64.9 95.5 85.5 112.3 115.7 18

 19 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 19

 20 Pension entitlements (4) 2847.1 3130.2 3400.4 3701.0 4141.8 4435.3 4847.0 5342.8 5774.4 6096.0 20

 21 Claims of pension fund on sponsor 758.5 803.4 895.6 962.7 972.8 1124.8 1016.2 1202.2 1155.7 1196.7 21

 22 Funded pension entitlements 2088.6 2326.8 2504.8 2738.3 3169.0 3310.5 3830.8 4140.6 4618.7 4899.3 22

 23 Equity in noncorporate business 2506.9 2625.7 2739.2 2881.7 3000.5 3056.7 3015.8 2998.0 3137.4 3342.6 23

 24 Miscellaneous assets 146.7 167.4 195.8 216.7 233.9 253.8 264.5 282.8 296.1 310.8 24

 25 Total liabilities 2362.2 2627.4 2835.2 3136.6 3421.5 3689.9 3902.0 4110.7 4381.8 4710.1 25

 26 Credit market instruments 2272.0 2529.5 2747.1 3036.3 3305.1 3567.8 3755.0 3959.4 4201.3 4525.0 26

 27 Home mortgages (5) 1450.2 1649.0 1828.6 2054.8 2260.1 2489.3 2667.4 2840.4 2999.0 3165.5 27

 28 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 28

 29 Municipal securities 81.3 78.4 78.1 79.6 82.7 85.7 89.5 91.9 93.0 96.1 29

 30 Depository institution loans n.e.c. (6) 19.0 17.5 17.9 18.3 8.7 9.6 7.7 14.7 23.6 32.3 30

 31 Other loans and advances 72.2 75.0 74.3 75.7 74.3 81.7 89.1 95.3 96.6 107.7 31

 32 Commercial mortgages 38.6 43.2 49.5 62.7 70.0 77.2 85.8 92.3 103.0 102.2 32

 33 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 33

 34 Trade payables 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 34

 35 Deferred and unpaid life insurance premiums 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 35
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Historical Annuals, 1985-1994, March 12, 2015 73

L.102 Nonfinancial Business (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 2774.4 2978.6 3204.1 3634.3 3870.7 3980.4 4114.1 4303.7 4679.6 5012.0 1

 2 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 2

 3 Checkable deposits and currency 198.3 202.4 212.9 231.4 241.7 250.1 259.1 260.3 284.2 308.3 3

 4 Time and savings deposits 109.9 127.8 126.3 129.2 129.0 125.6 130.8 136.2 155.6 163.5 4

 5 Money market fund shares 14.5 18.1 18.9 15.6 16.2 26.3 31.5 47.3 44.8 52.2 5

 6 Security repurchase agreements 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 6

 7 Credit market instruments 230.4 230.5 222.0 251.5 272.6 242.9 268.3 296.0 308.5 332.9 7

 8 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 8

 9 Treasury securities 46.9 51.1 41.6 38.3 63.4 50.2 55.7 73.6 62.4 69.2 9

 10 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 10

 11 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 56.2 58.3 11

 12 Mortgages 101.0 94.8 89.4 116.0 89.5 83.8 85.0 85.2 74.1 80.2 12

 13 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 13

 14 Mutual fund shares 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 14

 15 Trade receivables 803.1 816.3 881.6 984.2 1033.1 1065.0 1058.1 1092.8 1143.8 1232.0 15

 16 U.S. direct investment abroad 377.1 402.3 462.5 484.7 497.9 556.2 580.3 586.4 607.1 685.6 16

 17 Miscellaneous assets 1010.8 1141.1 1247.3 1500.4 1651.2 1687.8 1753.1 1842.8 2088.9 2188.5 17

 18 Total liabilities 4473.0 4723.9 5051.0 5583.2 6002.8 6192.4 6270.1 6544.9 6809.4 7088.1 18

 19 Credit market instruments 2572.0 2866.0 3117.4 3405.5 3644.3 3773.8 3686.4 3679.1 3805.2 4016.5 19

 20 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 20

 21 Municipal securities 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 21

 22 Corporate bonds 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 22

 23 Depository institution loans n.e.c. 585.3 651.6 664.7 715.4 767.3 760.7 709.1 683.4 680.5 743.4 23

 24 Other loans and advances 332.1 368.5 403.2 447.7 500.6 562.1 503.2 510.2 480.3 521.2 24

 25 Mortgages 877.1 960.5 1075.4 1153.1 1192.8 1210.8 1174.7 1105.6 1063.9 1052.6 25

 26 Trade payables 547.0 529.9 579.3 640.9 665.0 693.3 717.9 757.5 795.6 880.4 26

 27 Taxes payable 60.6 66.1 71.7 71.1 69.7 70.3 61.4 68.5 72.1 73.1 27

 28 Foreign direct investment in U.S. 218.8 262.2 319.8 400.8 463.3 517.1 515.2 528.0 550.5 602.9 28

 29 Miscellaneous liabilities 1074.5 999.8 962.7 1064.9 1160.4 1137.9 1289.2 1511.8 1586.0 1515.1 29

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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74 Historical Annuals, 1985-1994, March 12, 2015

L.103 Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 2473.3 2642.3 2873.2 3252.5 3480.9 3588.9 3714.6 3877.5 4225.8 4495.8 1

 2 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 2

 3 Checkable deposits and currency 126.5 128.1 137.7 151.6 160.7 166.9 173.8 169.6 190.2 202.1 3

 4 Time and savings deposits 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 4

 5 Money market fund shares 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 5

 6 Security repurchase agreements 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 6

 7 Credit market instruments 180.7 175.1 174.3 193.3 225.5 199.4 230.0 257.8 271.5 289.2 7

 8 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 8

 9 Treasury securities 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 9

 10 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 10

 11 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 11

 12 Mortgages 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 12

 13 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 13

 14 Mutual fund shares 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 14

 15 Trade receivables 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 15

 16 U.S. direct investment abroad (1) 377.1 402.3 462.5 484.7 497.9 556.2 580.3 586.4 607.1 685.6 16

 17 Miscellaneous assets 935.6 1055.0 1159.1 1397.1 1538.6 1578.6 1634.5 1719.2 1949.2 2029.6 17

 18 Insurance receivables 64.2 83.1 106.6 121.6 136.0 149.3 151.5 165.2 172.1 178.0 18

 19 Equity in GSEs 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 19

 20 Investment in finance company subs. 16.7 18.7 12.5 9.5 9.9 15.5 17.6 19.6 14.4 16.6 20

 21 Other 854.5 952.9 1039.8 1265.8 1392.6 1413.6 1465.2 1534.2 1762.5 1834.8 21

 22 Total liabilities 3321.0 3509.6 3784.5 4201.8 4542.8 4739.8 4840.4 5120.5 5400.0 5639.8 22

 23 Credit market instruments 1638.9 1865.8 2059.2 2263.5 2454.1 2583.3 2524.4 2543.6 2690.4 2887.2 23

 24 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 24

 25 Municipal securities (2) 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 25

 26 Corporate bonds (1) 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 26

 27 Depository institution loans n.e.c. 453.9 519.6 524.0 565.4 604.5 594.1 542.3 514.0 506.7 554.2 27

 28 Other loans and advances (3) 238.2 275.5 308.4 353.8 402.7 463.1 405.6 411.8 384.8 422.0 28

 29 Mortgages 169.3 185.3 252.7 255.0 263.2 285.9 277.1 237.9 218.3 211.6 29

 30 Trade payables 480.4 478.5 522.8 577.0 598.5 626.9 650.1 683.5 720.0 797.4 30

 31 Taxes payable 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 31

 32 Foreign direct investment in U.S. 210.9 254.1 316.7 394.3 454.6 513.3 511.3 523.6 545.3 598.1 32

 33 Miscellaneous liabilities 951.7 868.5 837.9 922.6 997.3 978.1 1125.7 1334.5 1403.6 1316.7 33

 34 Pension fund contributions payable 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 34

 35 Claims of pension fund on sponsor -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 35

 36 Other 957.0 839.7 734.4 761.1 881.9 771.2 996.2 1157.2 1266.0 1200.7 36

 Memo:

 37 Trade receivables net of payables 258.9 263.0 282.5 318.9 339.4 340.3 311.3 305.5 315.0 309.6 37

 38 Market value of equities 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 38

 39 Securities and mortgages 874.6 1007.8 1153.0 1258.6 1339.8 1409.3 1478.0 1510.7 1681.1 1771.8 39

 40 Loans and short-term paper 764.4 858.0 906.2 1004.9 1114.4 1174.0 1046.4 1032.9 1009.3 1115.5 40

 41 Total short-term liabilities (4) 1283.8 1379.3 1476.9 1626.3 1751.2 1839.2 1725.4 1751.7 1770.0 1953.2 41

 42 Total liquid assets (5) 321.7 346.4 340.7 345.8 388.2 367.1 416.5 457.2 504.9 530.7 42

 Analytical measures (percent)

 43 Long-term debt/credit market debt 53.4 54.0 56.0 55.6 54.6 54.6 58.5 59.4 62.5 61.4 43

 44 Short-term debt/credit market debt 46.6 46.0 44.0 44.4 45.4 45.4 41.5 40.6 37.5 38.6 44

 45 Liquid assets/short-term liabilities 25.1 25.1 23.1 21.3 22.2 20.0 24.1 26.1 28.5 27.2 45

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

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

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

(4) Sum of lines 24, 27, 28, 30, and 31. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(5) Sum of lines 2 through 6, lines 8 through 11, and line 14.
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Historical Annuals, 1985-1994, March 12, 2015 75

L.104 Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 301.1 336.3 330.9 381.8 389.8 391.5 399.5 426.2 453.8 516.2 1

 2 Checkable deposits and currency 71.8 74.3 75.2 79.8 81.0 83.2 85.3 90.7 93.9 106.3 2

 3 Time and savings deposits 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 3

 4 Money market fund shares 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 4

 5 Credit market instruments 49.7 55.4 47.7 58.2 47.1 43.6 38.3 38.1 36.9 43.7 5

 6 Treasury securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 7

 8 Mortgages 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 8

 9 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Trade receivables 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 10

 11 Miscellaneous assets 75.2 86.1 88.2 103.3 112.6 109.2 118.6 123.6 139.7 158.9 11

 12 Insurance receivables 56.3 62.9 57.8 58.2 63.8 60.0 65.0 64.1 66.7 68.7 12

 13 Equity investment in GSEs (1) 4.5 3.9 3.5 3.5 2.8 2.4 2.6 2.5 2.8 3.0 13

 14 Other 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 14

 15 Total liabilities 1152.0 1214.3 1266.5 1381.3 1459.9 1452.6 1429.6 1424.4 1409.4 1448.3 15

 16 Credit market instruments 933.0 1000.2 1058.2 1141.9 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 16

 17 Depository institution loans n.e.c. 131.4 132.0 140.7 150.0 162.7 166.7 166.7 169.5 173.9 189.2 17

 18 Other loans and advances 93.8 93.0 94.8 93.8 97.9 98.9 97.6 98.4 95.5 99.2 18

 19 Mortgages 707.8 775.2 822.7 898.1 929.6 924.9 897.6 867.6 845.5 840.9 19

 20 Trade payables 66.6 51.4 56.5 63.9 66.5 66.4 67.8 74.1 75.5 83.0 20

 21 Taxes payable 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 21

 22 Foreign direct investment in U.S. 8.0 8.1 3.1 6.5 8.7 3.8 3.9 4.4 5.2 4.8 22

 23 Miscellaneous liabilities 122.8 131.3 124.9 142.2 163.1 159.8 163.5 177.3 182.4 198.4 23

(1) Equity in the Farm Credit System.
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76 Historical Annuals, 1985-1994, March 12, 2015

L.105 General Government (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 1059.9 1159.2 1228.5 1262.6 1340.9 1462.1 1583.5 1567.3 1594.8 1571.7 1

 2 U.S. official reserve assets 25.1 28.0 29.1 27.7 32.3 39.7 39.1 38.8 40.2 41.4 2

 3 Checkable deposits and currency 48.8 50.1 37.9 57.0 50.8 49.4 81.3 63.3 85.7 63.1 3

 4 Time and savings deposits 67.1 69.6 76.9 74.7 71.7 68.9 57.9 51.1 49.5 55.8 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 5

 6 Security repurchase agreements 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 6

 7 Credit market instruments 706.8 783.8 826.5 836.0 873.4 946.5 1001.6 991.3 1012.5 952.0 7

 8 Open market paper 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 8

 9 Treasury securities 258.7 315.7 357.6 364.3 369.1 410.6 435.5 418.2 447.8 370.0 9

 10 Agency- and GSE-backed securities 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 10

 11 Municipal securities 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 11

 12 Corporate and foreign bonds 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 12

 13 Mortgages 127.5 140.4 143.8 146.7 152.2 193.1 212.0 200.0 193.3 181.5 13

 14 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.9 14

 15 Other loans and advances 197.9 203.6 193.8 169.3 162.1 160.2 152.7 152.7 142.2 144.2 15

 16 Corporate equities 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 16

 17 Mutual fund shares 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 17

 18 Trade receivables 76.2 74.8 86.6 91.4 98.1 98.8 96.6 93.0 94.2 95.9 18

 19 Taxes receivable 38.1 47.9 49.3 58.1 61.0 59.1 54.8 53.8 54.5 55.5 19

 20 Miscellaneous assets 23.5 25.7 30.6 26.1 42.8 78.4 118.2 130.2 92.1 143.9 20

 21 Total liabilities 3420.0 3777.1 4082.1 4353.0 4672.3 5077.2 5474.6 5993.9 6370.3 6610.6 21

 22 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 22

 23 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 23

 24 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 24

 25 Credit market instruments 2267.8 2558.0 2792.3 2997.9 3191.6 3485.5 3855.0 4175.4 4489.5 4599.8 25

 26 U.S. savings securities 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 26

 27 Treasury bills and other Treasury securities 1506.8 1708.9 1843.5 1972.7 2109.3 2339.6 2619.7 2904.3 3138.0 3285.6 27

 28 Budget agency securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 28

 29 Municipal securities 651.1 724.9 817.7 884.0 931.6 977.8 1068.6 1085.2 1143.9 1097.9 29

 30 Multifamily residential mortgages 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Other loans and advances 26.8 27.3 24.9 9.0 8.8 9.6 10.0 9.9 9.2 9.6 31

 32 Trade payables 156.3 180.5 198.0 216.8 237.2 244.3 252.5 264.0 282.0 297.8 32

 33 Insurance reserves 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 33

 34 Miscellaneous liabilities 954.6 995.0 1045.4 1090.7 1190.8 1290.5 1309.0 1496.9 1539.4 1651.4 34

 Memo:

 35 Total financial assets (consolidated) (2) 774.4 816.2 846.0 889.4 963.1 1041.9 1138.0 1139.2 1137.9 1192.1 35

 36 Total liabilities (consolidated) (2) 3134.5 3434.2 3699.6 3979.7 4294.5 4657.0 5029.0 5565.9 5913.3 6231.1 36

(1) Sum of the federal government (table L.106) and state and local governments (table L.107) sectors.

(2) Excludes Treasury securities held by state and local governments (line 9) and federal government loans to state and local governments (line 31).
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Historical Annuals, 1985-1994, March 12, 2015 77

L.106 Federal Government

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 373.7 387.6 372.2 362.4 370.2 442.4 500.7 476.4 483.8 454.1 1

 2 U.S. official reserve assets 25.1 28.0 29.1 27.7 32.3 39.7 39.1 38.8 40.2 41.4 2

 3 Checkable deposits and currency 34.0 32.8 21.4 32.1 25.6 25.4 50.9 31.7 52.2 27.8 3

 4 Time and savings deposits 1.2 1.4 1.7 1.4 1.3 1.4 1.6 0.9 0.8 0.7 4

 5 Credit market instruments 251.2 258.0 242.8 217.4 209.4 243.1 251.0 239.0 227.5 222.1 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Other loans and advances 197.9 203.6 193.8 169.3 162.1 160.2 152.7 152.7 142.2 144.2 8

 9 Mortgages 53.3 54.4 49.1 48.0 47.3 82.9 98.3 86.4 85.0 71.0 9

 10 Consumer credit (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.9 10

 11 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Trade receivables 35.0 32.6 40.6 40.7 43.9 42.1 37.5 30.8 28.4 24.7 12

 13 Taxes receivable 11.3 18.4 19.3 24.5 23.8 22.5 16.4 15.5 18.9 18.6 13

 14 Miscellaneous assets 15.8 16.3 17.4 18.6 34.0 68.1 104.2 119.6 115.7 119.0 14

 15 Total liabilities 2594.2 2895.9 3111.6 3342.5 3568.5 3878.2 4218.6 4589.6 4917.4 5142.8 15

 16 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 16

 17 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 17

 18 Treasury currency 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 18

 19 Credit market instruments 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 19

 20 U.S. savings securities 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 20

 21 Treasury bills 399.9 426.7 389.5 414.0 430.6 527.4 590.4 657.7 714.6 733.8 21

 22 Other Treasury securities 1106.9 1282.2 1454.0 1558.8 1678.7 1812.1 2029.3 2246.6 2423.3 2551.9 22

 23 Budget agency securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 23

 24 Multifamily residential mortgages 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Trade payables 58.1 72.7 80.2 88.2 96.8 91.0 85.5 82.7 85.6 85.4 25

 26 Insurance reserves 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 26

 27 Miscellaneous liabilities 905.0 973.7 1035.3 1101.8 1167.8 1232.2 1298.6 1369.1 1436.0 1503.3 27

 28 Nonmarketable securities held by pension plans (3) 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 28

 29 Claims of pension fund on sponsor 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 29

 30 Other 0.0 0.0 1.2 5.8 7.8 7.7 7.0 6.9 6.8 6.8 30

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

 the government purchased from depository institutions and finance companies.

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

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

 retirement fund, and foreign service retirement and disability fund.
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78 Historical Annuals, 1985-1994, March 12, 2015

L.107 State and Local Governments (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 686.2 771.6 856.3 900.2 970.8 1019.7 1082.8 1090.9 1111.0 1117.6 1

 2 Checkable deposits and currency 14.8 17.3 16.5 24.9 25.2 24.0 30.4 31.6 33.5 35.3 2

 3 Time and savings deposits 65.9 68.2 75.3 73.3 70.5 67.5 56.4 50.2 48.7 55.1 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 4

 5 Security repurchase agreements 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 5

 6 Credit market instruments 455.6 525.8 583.6 618.6 664.1 703.4 750.6 752.3 784.9 729.9 6

 7 Open market paper 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 7

 8 Treasury securities 258.7 315.7 357.6 364.3 369.1 410.6 435.5 418.2 447.8 370.0 8

 9 Agency- and GSE-backed securities 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 9

 10 Municipal securities 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 10

 11 Corporate and foreign bonds 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 11

 12 Mortgages 74.2 86.0 94.7 98.6 105.0 110.2 113.7 113.7 108.3 110.5 12

 13 Corporate equities 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 13

 14 Mutual fund shares 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 14

 15 Trade receivables 41.3 42.2 46.0 50.8 54.2 56.7 59.1 62.2 65.8 71.2 15

 16 Taxes receivable 26.8 29.5 30.0 33.7 37.1 36.6 38.4 38.3 35.6 36.9 16

 17 Miscellaneous assets 7.7 9.4 13.3 7.4 8.8 10.3 13.9 10.6 -23.6 24.9 17

 18 Total liabilities 825.8 881.2 970.5 1010.5 1103.8 1199.0 1256.0 1404.3 1452.9 1467.9 18

 19 Credit market instruments 677.9 752.1 842.6 893.0 940.4 987.4 1078.6 1095.1 1153.0 1107.5 19

 20 Municipal securities 651.1 724.9 817.7 884.0 931.6 977.8 1068.6 1085.2 1143.9 1097.9 20

 21 Short-term (2) 20.5 20.4 19.6 21.5 24.8 27.8 34.7 33.6 35.4 33.2 21

 22 Long-term 630.6 704.5 798.1 862.5 906.8 950.0 1033.9 1051.6 1108.5 1064.7 22

 23 U.S. government loans 26.8 27.3 24.9 9.0 8.8 9.6 10.0 9.9 9.2 9.6 23

 24 Trade payables 98.2 107.7 117.8 128.6 140.4 153.3 167.0 181.4 196.3 212.4 24

 25 Claims of pension fund on sponsor (3) 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 25

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

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

(3) Included in miscellaneous liabilities.
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Historical Annuals, 1985-1994, March 12, 2015 79

L.108 Domestic Financial Sectors (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 9911.3 11303.4 12423.8 13533.6 14743.4 15434.4 16499.3 17831.8 19490.0 20763.7 1

 2 U.S. official reserve assets 18.1 20.5 16.7 20.1 42.3 43.6 38.6 32.5 33.3 33.0 2

 3 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 3

 4 Treasury currency 17.1 17.6 18.2 18.8 19.6 20.4 21.0 21.4 22.1 23.0 4

 5 Foreign deposits 18.9 22.0 21.4 29.3 26.1 26.7 21.4 20.3 10.0 15.7 5

 6 Net interbank assets 58.2 76.6 71.3 70.4 68.6 73.7 64.0 67.9 68.6 68.4 6

 7 Checkable deposits and currency 28.1 33.8 34.4 40.4 39.2 53.2 41.0 41.4 47.5 47.8 7

 8 Time and savings deposits 128.9 139.7 137.4 150.3 190.3 149.9 170.3 150.2 146.3 149.6 8

 9 Money market fund shares 31.6 37.3 38.9 46.4 57.1 76.4 93.8 123.8 146.1 164.6 9

 10 Federal funds and security repos 399.9 482.8 545.2 607.3 674.8 685.0 731.5 847.1 928.3 965.1 10

 11 Credit market instruments 6395.6 7357.7 8117.0 8801.8 9473.4 10017.5 10478.4 11109.8 11929.4 12595.8 11

 12 Open market paper 283.4 310.6 358.4 393.6 462.8 487.7 472.4 482.3 458.9 487.8 12

 13 Treasury securities 772.4 895.1 940.9 932.5 975.9 1062.9 1255.0 1422.3 1532.2 1523.0 13

 14 Agency- and GSE-backed securities 478.9 653.9 805.8 892.3 973.3 1124.9 1236.1 1365.2 1551.9 1699.5 14

 15 Municipal securities 428.0 472.7 464.2 465.1 471.3 492.5 511.4 564.3 652.4 661.7 15

 16 Corporate and foreign bonds 673.0 823.7 952.5 1112.4 1203.0 1270.9 1391.2 1546.8 1792.7 1875.8 16

 17 Depository institution loans n.e.c. 786.1 864.1 872.0 911.8 949.1 928.5 880.7 855.1 846.4 896.1 17

 18 Other loans and advances 381.8 410.6 475.5 520.9 539.1 529.6 486.4 493.4 508.5 567.6 18

 19 Mortgages 2023.9 2307.8 2603.2 2888.9 3153.4 3363.3 3492.5 3621.2 3777.8 3956.6 19

 20 Consumer credit 568.1 619.3 644.6 684.4 745.5 757.3 752.6 759.0 808.6 927.7 20

 21 Corporate equities 904.1 1004.8 1058.0 1103.4 1386.5 1322.6 1791.1 2011.2 2509.6 2659.9 21

 22 Mutual fund shares 21.3 32.1 42.8 50.7 63.3 82.3 94.4 139.7 197.2 280.0 22

 23 Trade receivables 29.6 35.4 40.7 49.3 54.0 64.7 70.6 74.8 79.1 88.1 23

 24 Security credit 80.2 81.7 60.9 62.6 63.6 54.7 77.2 78.9 108.6 102.4 24

 25 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 U.S. direct investment abroad 30.7 35.2 44.1 51.2 72.8 73.6 77.4 88.0 116.4 101.0 26

 27 Miscellaneous assets 1744.3 1921.3 2171.9 2426.6 2503.3 2680.2 2718.6 3017.0 3139.5 3461.3 27

 28 Total liabilities 9617.7 10980.3 12055.6 13132.3 14287.2 14993.9 16003.3 17283.0 18804.4 20163.8 28

 29 Net interbank liabilities -7.5 -4.3 28.2 32.6 -9.6 -0.7 4.9 11.3 31.7 123.4 29

 30 Checkable deposits and currency 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 30

 31 Time and savings deposits 2444.0 2591.2 2735.3 2935.9 3064.6 3067.3 2999.7 2871.6 2786.0 2790.7 31

 32 Money market fund shares 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 32

 33 Federal funds and security repos 468.5 571.4 630.6 687.1 780.5 750.1 770.5 909.3 1037.4 1077.0 33

 34 Credit market instruments 1259.0 1596.6 1899.7 2149.5 2402.8 2613.8 2766.8 3018.9 3317.2 3789.7 34

 35 Open market paper 252.4 284.6 322.9 377.7 409.1 417.7 385.3 393.5 393.4 441.6 35

 36 Agency- and GSE-backed securities 625.7 804.6 972.6 1093.4 1242.9 1413.6 1559.4 1715.7 1880.9 2173.4 36

 37 Corporate and foreign bonds 233.1 325.4 404.0 456.1 525.5 580.0 651.9 741.2 861.4 976.9 37

 38 Depository institution loans n.e.c. 46.2 59.9 52.8 55.1 68.4 69.0 73.4 71.8 58.8 47.5 38

 39 Other loans and advances 99.0 119.3 144.3 163.7 153.3 129.2 91.9 91.3 113.7 131.6 39

 40 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 40

 41 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 41

 42 Trade payables 8.0 7.6 6.8 8.5 8.0 6.1 6.8 7.4 10.1 9.1 42

 43 Security credit 79.2 83.3 60.2 64.2 76.3 80.7 117.6 110.9 144.8 143.0 43

 44 Life insurance reserves 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 44

 45 Pension entitlements 2847.1 3130.2 3400.4 3701.0 4141.8 4435.3 4847.0 5342.8 5774.4 6096.0 45

 46 Taxes payable 8.8 10.3 8.3 9.7 9.0 10.6 11.6 11.8 13.9 13.1 46

 47 Foreign direct investment in U.S. 28.4 22.5 14.7 1.0 4.5 -11.8 18.2 12.3 42.8 15.1 47

 48 Miscellaneous liabilities 1033.9 1151.8 1345.0 1507.8 1559.9 1638.0 1739.5 1898.7 2001.9 2297.6 48

 Memo:

 49 Market value of corporate equities 309.1 369.0 328.9 388.9 477.0 377.9 570.3 746.5 910.7 893.9 49

 50 Equity in noncorporate business 3.9 5.5 5.3 5.6 4.7 4.0 4.7 5.1 6.2 5.1 50

(1) Sum of financial sectors shown on tables L.109 through L.131.
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80 Historical Annuals, 1985-1994, March 12, 2015

L.109 Monetary Authority (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 243.2 275.1 285.8 304.9 314.7 342.3 364.6 381.7 423.8 452.1 1

 2 U.S. official reserve assets 18.1 20.5 16.7 20.1 42.3 43.6 38.6 32.5 33.3 33.0 2

 3 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 3

 4 Treasury currency 17.1 17.6 18.2 18.8 19.6 20.4 21.0 21.4 22.1 23.0 4

 5 Federal Reserve float (2) 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 5

 6 Interbank loans (2) 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 6

 7 Discount window (3) 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 7

 8 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Security repurchase agreements 5.2 16.0 5.0 6.9 2.1 18.4 15.9 8.1 13.2 10.6 9

 10 Credit market instruments 186.0 205.5 226.5 241.2 233.3 241.4 272.5 300.4 336.7 368.2 10

 11 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Treasury securities 177.8 197.6 218.9 233.7 226.8 235.1 266.5 295.0 332.0 364.5 12

 13 Treasury bills 85.4 103.8 107.7 112.8 104.6 112.5 132.6 141.8 160.4 177.4 13

 14 Other Treasury securities 92.4 93.9 111.2 120.9 122.2 122.6 133.9 153.2 171.6 187.1 14

 15 Agency- and GSE-backed securities 8.2 7.8 7.6 7.6 6.5 6.3 6.0 5.4 4.6 3.6 15

 16 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other agency- and GSE-backed securities 8.2 7.8 7.6 7.6 6.5 6.3 6.0 5.4 4.6 3.6 17

 18 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Brokers and dealers (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Funding corporations (Maiden Lane) (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Funding corporations (AIG) 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 II) (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (Maiden Lane III)(9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (CPFF) (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Corporate equities (11) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Miscellaneous assets 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 28

 29 Nonofficial foreign currencies (12) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Other 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 30

 31 Total liabilities 241.4 273.2 283.8 302.8 312.5 339.9 362.0 378.7 420.4 448.4 31

 32 Depository institution reserves 28.6 48.1 41.8 39.3 38.3 38.7 29.4 32.1 35.0 30.8 32

 33 Vault cash of depository institutions 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 33

 34 Checkable deposits and currency 182.4 195.7 212.4 230.1 240.3 264.4 295.1 311.3 348.5 374.2 34

 35 Due to federal government 9.9 8.0 5.8 9.1 6.7 9.5 18.3 8.0 15.2 7.5 35

 36 Treasury cash holdings 0.6 0.4 0.4 0.4 0.5 0.6 0.6 0.5 0.4 0.3 36

 37 Treasury general deposit account 9.4 7.6 5.3 8.7 6.2 9.0 17.7 7.5 14.8 7.2 37

 38 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Due to rest of the world 0.5 0.4 0.3 0.4 0.6 0.4 1.0 0.2 0.4 0.3 39

 40 Due to government-sponsored enterprises 0.0 0.9 1.0 0.5 1.2 0.2 1.6 0.2 0.3 0.8 40

 41 Currency outside banks 171.9 186.3 205.3 220.1 231.8 254.4 274.2 302.8 332.6 365.7 41

 42 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Reverse repurchase agreement operations (13) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Miscellaneous liabilities 4.8 3.7 4.7 5.8 5.2 4.2 3.8 3.4 4.3 5.2 45

 46 Federal Reserve Bank stock 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 46

 47 Other 3.1 1.9 2.7 3.7 2.9 1.8 1.2 0.4 0.9 1.6 47

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table L.203.

(3) Federal Reserve loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

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

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

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

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

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

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

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

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

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

(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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Historical Annuals, 1985-1994, March 12, 2015 81

L.110 Private Depository Institutions (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 3733.0 4084.7 4370.3 4697.2 4762.4 4717.6 4650.7 4702.6 4854.6 5142.8 1

 2 Vault cash 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 2

 3 Reserves at Federal Reserve 28.6 48.1 41.8 39.3 38.3 38.7 29.4 32.1 35.0 30.8 3

 4 Federal funds and security repos 173.3 185.2 174.2 175.6 200.0 199.7 202.3 223.4 219.3 218.1 4

 5 Credit market instruments 3271.0 3578.6 3855.0 4118.0 4178.8 4165.0 4095.2 4119.1 4257.9 4441.4 5

 6 Open market paper 13.4 14.6 15.9 16.0 15.7 15.7 14.5 12.7 9.8 8.0 6

 7 Treasury securities 229.3 243.0 252.4 233.8 203.3 205.8 270.5 342.1 367.7 335.0 7

 8 Agency- and GSE-backed securities 229.1 315.2 387.9 437.6 443.3 483.0 498.0 548.0 603.7 624.7 8

 9 Municipal securities 235.1 206.4 177.3 154.4 136.4 120.4 105.6 99.6 101.3 99.6 9

 10 Corporate and foreign bonds 81.2 111.9 160.2 188.0 167.9 159.1 164.4 169.6 180.6 182.3 10

 11 Depository institution loans n.e.c. 786.1 864.1 872.0 911.8 949.1 928.5 880.7 855.1 846.4 896.1 11

 12 Other loans and advances 60.0 54.4 59.8 57.5 55.4 45.5 35.3 31.7 25.3 22.9 12

 13 Mortgages 1208.0 1308.8 1449.0 1603.0 1670.2 1683.7 1623.6 1568.3 1588.0 1655.9 13

 14 Consumer credit 428.9 460.2 480.5 515.9 537.5 523.2 502.6 492.0 535.2 616.8 14

 15 Corporate equities 5.3 7.1 7.0 8.5 15.7 10.9 14.1 14.7 16.8 13.3 15

 16 Mutual fund shares 0.0 0.0 1.8 1.4 3.4 3.3 6.3 7.4 8.1 4.6 16

 17 Security credit 29.5 24.3 19.1 19.1 21.0 15.9 22.1 25.4 32.5 27.3 17

 18 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 U.S. direct investment abroad 14.8 15.0 18.7 20.2 22.6 24.9 25.4 29.9 33.8 35.6 19

 20 Miscellaneous assets 184.9 200.7 227.9 287.4 253.9 226.7 222.2 218.7 218.6 333.6 20

 21 Total liabilities 3725.7 4069.9 4332.1 4694.7 4743.1 4727.7 4661.2 4690.1 4791.0 5170.6 21

 22 Net interbank liabilities -61.7 -78.0 -38.5 -34.3 -76.6 -72.0 -58.1 -52.7 -35.9 54.5 22

 23 Checkable deposits 531.1 643.2 630.4 655.1 651.9 670.3 727.4 823.4 903.5 866.0 23

 24 Small time and savings deposits 1851.7 1977.5 2047.4 2186.3 2284.3 2348.2 2349.9 2292.7 2222.4 2185.0 24

 25 Large time deposits 592.3 613.7 687.9 749.6 780.3 719.0 649.8 578.9 563.6 605.7 25

 26 Federal funds and security repos 300.3 347.1 361.5 386.3 383.9 353.4 328.5 338.8 356.9 415.2 26

 27 Credit market instruments 182.7 204.6 241.0 259.3 244.0 213.4 158.7 159.5 176.0 198.0 27

 28 Open market paper 64.6 58.8 64.3 61.6 57.4 52.1 37.8 33.9 26.3 23.4 28

 29 Corporate bonds 25.1 32.3 37.3 38.9 38.3 36.9 33.8 39.0 41.1 43.7 29

 30 Other loans and advances 92.9 113.5 139.3 158.8 148.3 124.4 87.1 86.5 108.7 131.0 30

 31 Taxes payable (net) 4.6 4.9 2.5 2.7 1.4 1.3 -0.1 -0.3 -3.2 -5.2 31

 32 Foreign direct investment in U.S. 11.4 12.4 14.4 16.9 18.6 18.4 24.9 21.2 24.0 26.3 32

 33 Miscellaneous liabilities 313.3 344.6 385.6 472.9 455.3 475.5 480.2 528.6 583.6 825.3 33

 34 Investment by holding companies 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 34

 35 Investment by funding corporations 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 35

 36 Other 155.1 164.3 190.7 242.2 211.6 216.2 203.7 211.4 242.9 469.5 36

 Memo:

 37 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

(1) U.S.-chartered depository institutions (L.111), foreign banking offices (L.112), banks in U.S.-affiliated areas (L.113), and credit unions (L.114).

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

 The leased automobile is a nonfinancial asset.
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82 Historical Annuals, 1985-1994, March 12, 2015

L.111 U.S.-Chartered Depository Institutions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 3388.4 3669.4 3899.1 4177.5 4212.7 4124.1 3977.4 3979.0 4109.4 4352.1 1

 2 Vault cash 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 2

 3 Reserves at Federal Reserve 26.6 45.5 39.6 38.3 37.3 37.4 28.5 31.4 34.0 29.8 3

 4 Federal funds and security repos 156.2 160.3 150.0 148.3 171.5 169.6 165.5 176.1 164.5 157.2 4

 5 Credit market instruments 2967.5 3217.3 3435.5 3657.7 3695.5 3644.8 3516.3 3509.0 3635.5 3786.5 5

 6 Open market paper 12.0 12.8 13.3 13.4 12.5 9.3 8.8 6.5 5.2 3.7 6

 7 Treasury securities 217.1 226.5 233.0 210.9 182.5 183.3 232.7 288.3 303.2 275.1 7

 8 Agency- and GSE-backed securities 221.0 303.8 375.3 425.1 431.0 460.6 466.2 503.2 543.6 558.0 8

 9 Residential mortgage pass-through securities 151.6 220.3 287.1 308.2 298.6 299.5 277.3 276.2 296.7 316.0 9

 10 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 54.8 89.4 122.7 133.8 119.4 11

 12 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Other 69.5 83.5 88.3 116.9 132.4 106.3 99.5 104.3 113.1 122.6 13

 14 Municipal securities 234.5 205.8 176.7 153.8 135.8 119.8 105.1 99.1 101.0 99.0 14

 15 Corporate and foreign bonds 74.1 99.7 144.6 174.0 152.8 141.1 142.5 146.6 155.8 152.8 15

 16 Priv. residential mortgage pass-through securities 0.4 3.7 19.4 24.4 28.9 30.3 30.6 30.2 35.0 32.8 16

 17 Priv. commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Priv. residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 28.2 21.6 19.8 21.5 18

 19 Priv. commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Other 73.7 96.0 125.2 149.7 124.0 110.8 83.6 94.7 101.0 98.5 20

 21 Depository institution loans n.e.c. 626.8 676.3 660.7 686.5 704.2 681.0 608.8 581.7 589.0 630.8 21

 22 Other loans and advances 37.9 30.6 29.6 26.5 21.3 17.2 12.6 12.6 10.1 9.9 22

 23 Mortgages 1189.1 1278.7 1402.9 1540.0 1609.4 1600.9 1527.2 1470.9 1494.0 1559.9 23

 24 Consumer credit 354.8 383.1 399.4 427.6 445.8 431.6 412.3 400.3 433.6 497.2 24

 25 Corporate equities 5.2 7.0 7.0 8.5 15.7 10.9 14.1 14.7 16.8 13.3 25

 26 Mutual fund shares 0.0 0.0 0.0 0.0 2.2 1.9 3.7 3.4 3.9 2.0 26

 27 Security credit 24.0 18.5 16.2 16.2 18.2 12.8 14.8 16.8 22.9 19.0 27

 28 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 U.S. direct investment abroad 14.8 15.0 18.7 20.2 22.6 24.9 25.4 29.9 33.8 35.6 29

 30 Miscellaneous assets 168.5 180.1 207.3 260.8 221.1 189.2 175.6 165.9 165.2 270.5 30

 31 Total liabilities 3299.6 3574.9 3775.2 4068.6 4092.4 4049.5 3930.0 3944.4 4047.7 4359.8 31

 32 Net interbank liabilities -111.6 -128.0 -95.4 -100.0 -121.9 -110.4 -78.0 -62.1 -43.1 29.2 32

 33 Federal Reserve float 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 33

 34 Borrowing from Federal Reserve banks 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 34

 35 To domestic banks -57.9 -67.6 -69.5 -77.3 -89.9 -86.5 -52.7 -49.8 -43.7 -40.8 35

 36 To foreign banks -57.8 -63.2 -30.5 -26.2 -33.6 -26.3 -26.3 -16.2 -0.4 70.5 36

 37 Checkable deposits 506.2 616.5 602.7 625.3 620.6 637.8 692.7 784.2 862.3 822.2 37

 38 Federal government 25.8 27.5 21.6 29.0 25.6 30.9 36.4 30.6 42.6 23.8 38

 39 Private domestic 464.4 570.4 563.8 579.7 578.3 590.6 642.2 737.8 804.1 781.3 39

 40 Rest of the world 16.0 18.7 17.2 16.6 16.7 16.3 14.1 15.8 15.6 17.1 40

 41 Small time and savings deposits 1729.3 1826.3 1884.3 2011.1 2100.6 2149.1 2134.3 2061.0 1982.0 1939.4 41

 42 Large time deposits 472.3 467.0 513.8 558.9 567.3 503.8 393.7 306.0 283.1 304.1 42

 43 Federal funds and security repos 268.0 310.1 327.9 343.9 338.4 293.4 256.4 277.3 305.7 360.9 43

 44 Credit market instruments 158.3 177.3 207.1 224.9 208.6 178.9 133.8 138.3 159.7 184.1 44

 45 Open market paper 40.2 31.5 30.5 27.2 22.0 17.6 12.9 12.8 10.2 10.0 45

 46 Corporate bonds 25.1 32.3 37.3 38.9 38.3 36.9 33.8 39.0 41.1 43.7 46

 47 Other loans and advances 92.9 113.5 139.3 158.8 148.3 124.4 87.1 86.5 108.4 130.5 47

 48 Taxes payable (net) 4.6 4.9 2.5 2.7 1.4 1.3 -0.1 -0.3 -3.2 -5.2 48

 49 Miscellaneous liabilities 272.4 300.8 332.3 401.8 377.3 395.6 397.1 440.1 501.2 725.0 49

 50 Investment by holding companies 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 50

 51 Other 136.9 147.3 171.5 218.1 183.2 183.8 167.9 174.0 205.0 413.3 51

 Memo:

 52 Consumer leases not included above (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

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

 The leased automobile is a nonfinancial asset.
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Historical Annuals, 1985-1994, March 12, 2015 83

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

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 215.0 265.9 307.3 336.4 352.7 377.0 442.1 466.1 467.3 488.7 1

 2 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Reserves at Federal Reserve 2.0 2.6 2.2 1.1 1.0 1.2 0.9 0.7 1.0 1.0 3

 4 Federal funds and security repos 8.8 14.0 15.0 18.0 16.1 15.4 23.7 33.8 46.3 54.7 4

 5 Credit market instruments 191.4 232.8 273.5 296.0 310.3 332.1 379.9 389.6 377.8 379.0 5

 6 Open market paper 1.2 1.0 2.2 1.7 2.1 4.1 3.1 3.3 2.4 2.2 6

 7 Treasury securities 4.8 6.9 6.5 6.6 6.4 11.4 20.8 29.6 36.1 32.7 7

 8 Agency- and GSE-backed securities 1.1 2.6 3.8 4.9 5.2 7.2 11.2 14.1 21.5 23.0 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate and foreign bonds 6.3 11.4 14.6 13.9 15.0 18.0 21.8 22.6 24.2 29.0 10

 11 Depository institution loans n.e.c. 150.2 178.5 202.1 215.7 217.3 217.5 246.0 249.3 233.5 238.9 11

 12 Other loans and advances 22.1 23.8 30.2 31.0 34.0 28.3 22.7 19.1 15.1 13.0 12

 13 Mortgages 5.7 8.7 13.9 22.1 30.2 45.5 54.3 51.6 45.1 40.3 13

 14 Corporate equities 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Security credit 5.4 5.8 3.0 2.9 2.8 3.1 7.4 8.6 9.6 8.3 15

 16 Miscellaneous assets 7.2 10.6 13.7 18.4 22.5 25.2 30.2 33.4 32.7 45.8 16

 17 Total liabilities 299.0 349.6 399.0 450.6 463.0 472.5 513.1 504.9 486.5 532.1 17

 18 Net interbank liabilities 77.7 85.4 91.9 96.8 74.0 67.4 53.7 44.2 40.4 49.9 18

 19 To foreign banks 40.3 45.9 48.9 52.6 26.5 23.2 25.2 23.9 21.6 35.3 19

 20 To domestic banks 37.4 39.5 43.0 44.3 47.5 44.2 28.6 20.3 18.8 14.6 20

 21 Checkable deposits 7.3 8.3 7.6 8.7 8.4 8.7 8.9 8.3 8.3 8.8 21

 22 Small time and savings deposits 4.9 7.1 7.8 8.3 12.0 11.0 11.0 11.2 10.4 9.3 22

 23 Large time deposits 113.1 138.7 165.8 181.8 200.5 202.8 243.8 258.6 265.3 285.2 23

 24 Federal funds and security repos 32.3 36.9 33.6 42.4 45.5 60.0 72.1 61.5 51.2 54.3 24

 25 Open market paper (2) 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 25

 26 Foreign direct investment in U.S. 11.4 12.4 14.4 16.9 18.6 18.4 24.9 21.2 24.0 26.3 26

 27 Miscellaneous liabilities 28.0 33.6 44.0 61.3 68.5 69.6 73.7 78.5 70.8 85.0 27

 28 Investment by funding corporations 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 28

 29 Other 5.3 6.7 10.0 14.4 19.1 21.9 26.5 27.4 26.3 40.9 29

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.
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84 Historical Annuals, 1985-1994, March 12, 2015

L.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 18.1 17.0 16.5 18.7 21.1 25.8 23.3 26.4 28.4 31.6 1

 2 Credit market instruments 13.7 14.6 14.7 15.5 17.1 21.6 19.7 23.4 25.8 29.2 2

 3 Treasury securities 1.2 1.7 1.7 1.9 2.2 2.5 2.8 4.3 5.8 5.1 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.4 0.8 0.9 1.0 2.1 2.3 2.8 4

 5 Municipal securities 0.6 0.6 0.6 0.7 0.6 0.6 0.5 0.5 0.2 0.6 5

 6 Corporate and foreign bonds 0.7 0.9 0.9 0.0 0.1 0.0 0.1 0.4 0.6 0.5 6

 7 Depository institution loans n.e.c. 9.1 9.3 9.1 9.6 9.7 13.0 10.0 10.2 9.7 11.3 7

 8 Home mortgages 1.3 1.3 1.5 1.7 1.9 2.0 2.0 3.0 4.1 4.8 8

 9 Commercial mortgages 0.8 0.8 0.9 1.2 1.8 2.5 3.2 3.0 3.1 4.0 9

 10 Miscellaneous assets 4.4 2.4 1.8 3.2 4.1 4.2 3.7 3.0 2.6 2.4 10

 11 Total liabilities 22.1 20.7 19.5 21.0 23.1 27.5 24.4 26.9 28.2 31.7 11

 12 Net interbank liabilities -4.5 -4.4 -3.6 -3.0 -2.6 -2.5 -1.8 -1.3 -1.0 -1.4 12

 13 Checkable deposits 4.9 5.4 5.4 5.6 6.1 5.4 5.2 5.8 6.1 6.2 13

 14 Small time and savings deposits 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 14

 15 Large time deposits 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 15

 16 Miscellaneous liabilities 10.1 7.3 5.4 5.4 5.7 6.5 4.9 5.5 6.6 8.9 16

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

L.114 Credit Unions

Billions of dollars

 1 Total financial assets 111.5 132.4 147.3 164.6 175.9 190.8 207.9 231.1 249.6 270.4 1

 2 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Federal funds and security repos 8.4 10.9 9.2 9.4 12.5 14.6 13.2 13.5 8.5 6.2 3

 4 Credit market instruments 98.4 113.9 131.3 148.9 156.0 166.6 179.4 197.1 218.7 246.8 4

 5 Open market paper 0.2 0.7 0.5 0.9 1.1 2.3 2.6 3.0 2.2 2.1 5

 6 Treasury securities 6.2 8.0 11.2 14.4 12.1 8.5 14.1 19.9 22.6 22.1 6

 7 Agency- and GSE-backed securities 7.0 8.8 8.8 7.1 6.3 14.4 19.6 28.7 36.3 40.9 7

 8 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 17.9 17.0 15.9 14.0 14.2 15.1 10

 11 Home mortgages 11.1 19.3 29.9 38.1 27.0 32.7 36.9 39.8 41.8 47.0 11

 12 Consumer credit 74.0 77.1 81.0 88.3 91.7 91.6 90.3 91.7 101.6 119.6 12

 13 Mutual fund shares 0.0 0.0 1.8 1.4 1.2 1.4 2.6 4.1 4.2 2.6 13

 14 Miscellaneous assets 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.2 14.8 14

 15 Total liabilities 105.0 124.7 138.5 154.5 164.7 178.2 193.7 213.9 228.7 247.1 15

 16 Net interbank liabilities -23.3 -31.0 -31.4 -28.2 -26.0 -26.5 -32.1 -33.6 -32.1 -23.2 16

 17 Shares/deposits 125.5 152.7 166.0 178.4 187.0 200.8 221.3 242.9 255.5 263.4 17

 18 Checkable 12.6 13.0 14.7 15.5 16.8 18.3 20.5 25.1 26.8 28.8 18

 19 Small time and savings 111.7 137.8 149.2 160.5 164.7 179.1 196.5 212.0 221.8 227.3 19

 20 Large time 1.2 1.8 2.1 2.5 5.5 3.4 4.2 5.8 6.9 7.3 20

 21 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 22

 23 Miscellaneous liabilities 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 23
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Historical Annuals, 1985-1994, March 12, 2015 85

L.115 Property-Casualty Insurance Companies

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 298.6 353.6 405.0 453.9 503.0 533.5 575.8 597.9 642.5 678.1 1

 2 Checkable deposits and currency 4.3 5.6 5.5 5.4 6.0 6.5 5.3 5.6 5.2 5.0 2

 3 Money market fund shares 8.3 8.3 8.6 9.8 9.7 10.8 9.4 11.4 11.1 10.3 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 191.8 234.6 274.6 306.0 335.6 364.2 394.1 410.6 443.3 465.6 5

 6 Open market paper 11.8 11.9 12.3 14.0 13.9 15.5 13.5 16.3 15.9 14.7 6

 7 Treasury securities 32.3 46.1 54.7 64.2 75.2 83.6 108.1 113.6 129.3 137.4 7

 8 Agency- and GSE-backed securities 22.2 22.3 22.3 22.6 26.0 32.0 42.1 42.6 44.5 45.8 8

 9 Municipal securities 88.2 101.9 124.8 134.1 134.8 136.9 126.8 134.3 146.1 153.8 9

 10 Corporate and foreign bonds 33.9 48.0 55.5 65.7 79.3 89.2 97.2 97.8 103.1 110.1 10

 11 Commercial mortgages 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 11

 12 Corporate equities 57.0 61.2 65.1 71.4 84.0 79.9 94.1 97.3 103.4 111.7 12

 13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 13

 14 Trade receivables 27.2 32.1 35.7 42.5 45.3 47.2 49.1 49.0 50.7 52.9 14

 15 U.S. direct investment abroad 10.0 11.8 15.5 18.9 22.4 24.8 23.7 24.0 28.8 32.2 15

 16 Total liabilities 215.6 259.5 305.9 337.6 371.1 398.8 419.0 440.8 459.1 474.4 16

 17 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Taxes payable (net) 0.9 1.1 1.6 1.9 1.2 1.9 2.6 0.9 3.0 2.6 18

 19 Foreign direct investment in U.S. 4.5 6.0 10.5 11.7 14.2 17.3 24.7 25.7 26.7 27.9 19

 20 Miscellaneous liabilities 210.2 252.4 293.8 323.9 355.7 379.7 391.7 414.3 429.4 444.0 20

 21 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Policy payables 210.2 252.4 293.8 323.9 355.7 379.7 391.7 414.3 429.4 444.0 22
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86 Historical Annuals, 1985-1994, March 12, 2015

L.116 Life Insurance Companies (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 796.1 905.9 1005.3 1125.0 1245.5 1351.4 1479.5 1587.0 1754.9 1862.9 1

 2 Checkable deposits and currency 5.1 5.8 4.9 4.6 5.0 4.9 5.5 4.8 5.2 5.6 2

 3 Money market fund shares 9.1 10.0 6.9 7.0 6.2 8.4 8.5 8.7 8.8 8.9 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 646.6 734.5 823.1 927.2 1028.3 1134.5 1218.9 1304.4 1415.5 1487.5 5

 6 Open market paper 29.1 34.5 34.0 39.2 42.8 45.7 45.8 43.2 46.9 52.8 6

 7 Treasury securities 51.7 59.0 57.1 58.6 52.9 59.2 77.8 88.8 110.0 107.1 7

 8 Agency- and GSE-backed securities 49.4 60.0 67.0 75.7 100.8 121.0 164.2 193.0 222.8 234.1 8

 9 Municipal securities 9.7 11.7 10.7 9.1 9.0 12.3 10.2 11.4 14.7 12.8 9

 10 Corporate and foreign bonds 280.6 321.4 388.3 457.5 511.0 566.9 595.1 653.9 719.5 779.4 10

 11 Other loans and advances 54.4 54.1 53.6 54.2 57.4 61.6 66.4 72.1 77.7 85.5 11

 12 Mortgages 171.8 193.8 212.4 232.9 254.2 267.9 259.5 242.0 223.9 215.8 12

 13 Corporate equities 74.0 76.4 80.5 81.4 91.8 81.9 135.8 151.6 205.8 231.4 13

 14 Mutual fund shares 3.5 14.5 12.1 18.5 19.1 30.7 8.6 18.2 21.3 24.4 14

 15 U.S. direct investment abroad 1.6 1.5 1.9 2.1 2.4 2.7 3.7 4.0 4.9 4.8 15

 16 Miscellaneous assets 56.2 63.3 75.9 84.3 92.7 88.3 98.5 95.4 93.5 100.3 16

 17 Equity in FHLB 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 17

 18 Deferred and unpaid life ins. premiums 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 18

 19 Other 41.0 49.5 60.8 68.7 76.4 71.8 82.8 79.6 77.2 83.5 19

 20 Total liabilities 750.8 855.9 947.3 1068.7 1185.9 1291.3 1409.6 1525.1 1677.8 1773.5 20

 21 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 22

 23 Life insurance reserves 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 23

 24 Pension entitlements (2) 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 24

 25 Taxes payable (net) 2.5 3.1 3.4 3.8 4.8 5.3 6.4 7.8 9.4 10.4 25

 26 Foreign direct investment in U.S. 7.3 9.4 7.2 7.3 8.6 9.9 8.6 9.7 13.1 10.9 26

 27 Miscellaneous liabilities 234.1 251.8 298.6 307.7 334.2 338.2 379.6 392.8 422.7 463.5 27

 28 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other reserves (3) 56.9 61.0 66.3 72.6 77.9 83.5 89.4 97.8 105.4 113.5 29

 30 Unallocated insurance contracts 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 30

 31 Other 45.4 43.9 46.0 48.2 51.6 39.9 45.7 47.4 49.5 52.1 31

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables L.116.g and L.116.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 30.

(3) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
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Historical Annuals, 1985-1994, March 12, 2015 87

L.116.g Life Insurance Companies: General Accounts

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 796.1 905.9 1005.3 1125.0 1245.5 1351.4 1479.5 1587.0 1754.9 1862.9 1

 2 Checkable deposits and currency 5.1 5.8 4.9 4.6 5.0 4.9 5.5 4.8 5.2 5.6 2

 3 Money market fund shares 9.1 10.0 6.9 7.0 6.2 8.4 8.5 8.7 8.8 8.9 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 646.6 734.5 823.1 927.2 1028.3 1134.5 1218.9 1304.4 1415.5 1487.5 5

 6 Open market paper 29.1 34.5 34.0 39.2 42.8 45.7 45.8 43.2 46.9 52.8 6

 7 Treasury securities 51.7 59.0 57.1 58.6 52.9 59.2 77.8 88.8 110.0 107.1 7

 8 Agency- and GSE-backed securities 49.4 60.0 67.0 75.7 100.8 121.0 164.2 193.0 222.8 234.1 8

 9 Municipal securities 9.7 11.7 10.7 9.1 9.0 12.3 10.2 11.4 14.7 12.8 9

 10 Corporate and foreign bonds 280.6 321.4 388.3 457.5 511.0 566.9 595.1 653.9 719.5 779.4 10

 11 Other loans and advances 54.4 54.1 53.6 54.2 57.4 61.6 66.4 72.1 77.7 85.5 11

 12 Mortgages 171.8 193.8 212.4 232.9 254.2 267.9 259.5 242.0 223.9 215.8 12

 13 Corporate equities 74.0 76.4 80.5 81.4 91.8 81.9 135.8 151.6 205.8 231.4 13

 14 Mutual fund shares 3.5 14.5 12.1 18.5 19.1 30.7 8.6 18.2 21.3 24.4 14

 15 U.S. direct investment abroad 1.6 1.5 1.9 2.1 2.4 2.7 3.7 4.0 4.9 4.8 15

 16 Miscellaneous assets 56.2 63.3 75.9 84.3 92.7 88.3 98.5 95.4 93.5 100.3 16

 17 Total liabilities 750.8 855.9 947.3 1068.7 1185.9 1291.3 1409.6 1525.1 1677.8 1773.5 17

 18 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 19

 20 Life insurance reserves 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 20

 21 Pension entitlements (1) 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 21

 22 Taxes payable (net) 2.5 3.1 3.4 3.8 4.8 5.3 6.4 7.8 9.4 10.4 22

 23 Foreign direct investment in U.S. 7.3 9.4 7.2 7.3 8.6 9.9 8.6 9.7 13.1 10.9 23

 24 Miscellaneous liabilities 234.1 251.8 298.6 307.7 334.2 338.2 379.6 392.8 422.7 463.5 24

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 24).

L.116.s Life Insurance Companies: Separate Accounts

Billions of dollars

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Total liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Pension entitlements (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 17).
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88 Historical Annuals, 1985-1994, March 12, 2015

L.117 Private and Public Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets (2) 2559.2 2767.3 3014.5 3234.1 3606.8 3824.3 4181.3 4604.2 4951.9 5236.3 1

 2 Checkable deposits and currency 5.6 5.0 6.5 9.0 7.3 8.3 6.8 9.5 9.8 10.8 2

 3 Time and savings deposits 89.9 96.9 81.4 94.3 123.7 118.1 124.8 105.7 101.6 104.6 3

 4 Money market fund shares 10.5 12.7 14.8 17.2 20.6 20.6 21.7 22.9 30.4 36.5 4

 5 Security repurchase agreements 24.2 29.1 31.7 32.9 34.5 35.7 46.1 52.1 48.8 50.0 5

 6 Credit market instruments 581.4 630.7 677.1 722.5 807.2 873.9 904.6 970.7 1037.0 1090.2 6

 7 Open market paper 27.1 34.7 44.9 37.7 36.6 38.6 48.5 54.1 50.6 51.8 7

 8 Treasury securities 213.9 228.1 253.0 266.1 279.7 298.1 292.7 325.1 337.5 355.8 8

 9 Agency- and GSE-backed securities 105.2 97.3 115.2 122.0 161.7 195.9 204.0 196.4 206.8 251.8 9

 10 Corporate and foreign bonds 204.7 243.1 239.6 263.8 290.4 299.8 323.6 363.6 413.1 406.7 10

 11 Mortgages 29.3 26.8 23.5 32.3 38.6 41.0 35.1 31.0 27.5 23.0 11

 12 Corporate equities 635.8 673.7 702.7 727.9 913.4 890.8 1202.2 1307.8 1525.0 1541.5 12

 13 Mutual fund shares 17.8 17.6 29.0 30.8 40.8 48.3 79.5 114.1 167.9 250.7 13

 14 Miscellaneous assets 1194.0 1301.5 1471.1 1599.6 1659.5 1828.7 1795.6 2021.3 2031.5 2152.0 14

 15 Unallocated insurance contracts (3) 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 15

 16 Contributions receivable 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 16

 17 Nonmarketable Treasury securities (4) 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 17

 18 Claims of pension fund on sponsor (5) 758.5 803.4 895.6 962.7 972.8 1124.8 1016.2 1202.2 1155.7 1196.7 18

 19 Other 112.8 130.8 137.1 166.3 156.4 124.1 119.4 106.5 93.4 93.5 19

 20 Pension entitlements (liabilities) (6) 2586.7 2802.3 3051.8 3265.5 3646.3 3865.5 4225.8 4649.4 4999.3 5299.4 20

 Memo:

 Funded status of defined benefit plans:

 21 Pension entitlements 2154.9 2332.6 2500.0 2668.4 2931.1 3128.3 3335.2 3675.2 3888.1 4113.0 21

 22 Funded by assets (7) 1396.4 1529.2 1604.5 1705.7 1958.3 2003.6 2318.9 2473.0 2732.4 2916.3 22

 23 Unfunded (line 18) 758.5 803.4 895.6 962.7 972.8 1124.8 1016.2 1202.2 1155.7 1196.7 23

 24 Household retirement assets (8) 3043.7 3401.5 3737.0 4098.8 4610.5 4989.1 5528.8 6114.9 6650.6 7010.2 24

 25 Defined benefit plans 2127.5 2297.6 2462.7 2637.0 2891.7 3087.1 3290.6 3629.9 3840.7 4049.9 25

 26 Defined contribution plans 431.7 469.7 551.8 597.1 715.2 737.2 890.7 974.2 1111.2 1186.4 26

 27 Individual retirement plans (IRAs) (9) 241.0 329.0 404.0 468.0 546.0 637.0 776.0 873.0 993.0 1056.0 27

 28 Annuities at life insurance companies (10) 243.5 305.2 318.5 396.6 457.6 527.8 571.5 637.8 705.7 717.9 28

(1) Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

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

 and foreign service retirement and disability fund.

(5) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(8) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(9) IRA assets are not included above. See memo item on table L.226 for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs at life insurance companies are excluded. They are included in line 27.
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Historical Annuals, 1985-1994, March 12, 2015 89

L.118 Private Pension Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets (2) 1191.5 1281.5 1422.2 1532.4 1699.2 1783.0 1989.9 2133.1 2324.0 2440.7 1

 2 Checkable deposits and currency 3.3 1.9 1.7 4.5 4.1 3.3 3.0 2.9 3.1 4.0 2

 3 Time and savings deposits 76.6 87.0 76.2 87.0 114.5 110.3 115.8 98.7 95.3 101.9 3

 4 Money market fund shares 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 4

 5 Security repurchase agreements 19.2 20.9 20.4 22.6 24.8 23.5 27.2 27.4 28.3 22.2 5

 6 Credit market instruments 328.9 333.2 346.8 368.6 419.7 462.4 488.1 514.2 550.0 589.4 6

 7 Open market paper 22.0 26.0 33.3 27.0 25.8 24.9 28.4 28.4 29.2 23.0 7

 8 Treasury securities 128.6 112.8 113.0 112.7 122.4 122.3 117.0 108.5 104.2 120.9 8

 9 Agency- and GSE-backed securities 67.1 59.1 72.3 86.6 110.4 132.8 145.8 156.4 170.4 211.1 9

 10 Corporate and foreign bonds 97.2 123.9 120.1 125.6 137.7 157.5 178.6 206.3 233.3 226.5 10

 11 Mortgages 14.0 11.3 8.2 16.7 23.3 24.9 18.2 14.5 13.0 7.8 11

 12 Corporate equities 504.7 510.6 519.3 500.0 616.5 588.4 783.2 848.8 985.4 984.1 12

 13 Mutual fund shares 11.1 12.1 19.9 23.4 33.0 40.5 66.4 96.2 142.2 205.9 13

 14 Miscellaneous assets 238.6 304.9 425.1 511.4 468.8 536.8 487.4 525.1 493.4 501.6 14

 15 Unallocated insurance contracts (3) 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 15

 16 Contributions receivable 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 16

 17 Claims of pension fund on sponsor (4) -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 17

 18 Other 112.1 129.3 135.3 163.0 148.8 115.1 113.3 100.3 87.9 87.7 18

 19 Pension entitlements (liabilities) (5) 1215.6 1312.4 1454.2 1557.4 1730.7 1812.3 2018.5 2157.5 2346.9 2477.7 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 795.2 856.9 918.6 980.3 1042.0 1103.7 1165.4 1227.2 1289.0 1350.7 20

 21 Funded by assets (6) 819.2 846.9 835.3 837.8 953.0 929.2 1080.3 1104.3 1218.0 1313.1 21

 22 Unfunded (line 17) -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 22

 Total financial assets (7)

 23 Defined benefit plans 771.1 826.1 886.6 955.3 1010.5 1074.4 1136.8 1202.8 1266.1 1313.6 23

 24 Defined contribution plans 420.4 455.5 535.6 577.1 688.7 708.5 853.1 930.3 1057.9 1127.0 24

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on tables L.118.b and L.118.c.
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90 Historical Annuals, 1985-1994, March 12, 2015

L.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets (1) 771.1 826.1 886.6 955.3 1010.5 1074.4 1136.8 1202.8 1266.1 1313.6 1

 2 Checkable deposits and currency 1.4 0.8 0.6 2.5 1.6 1.0 1.0 1.0 1.0 1.8 2

 3 Time and savings deposits 41.0 49.6 50.7 47.3 56.9 51.3 56.8 47.6 54.1 67.1 3

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

 5 Security repurchase agreements 13.9 15.0 14.9 16.5 16.8 15.0 16.9 15.8 15.8 11.6 5

 6 Credit market instruments 252.1 245.6 248.0 276.4 318.0 349.9 362.7 379.8 402.7 438.3 6

 7 Open market paper 14.4 18.0 23.1 19.2 16.8 15.0 16.9 15.8 15.8 11.6 7

 8 Treasury securities 96.4 89.2 83.5 85.1 93.0 93.6 84.7 73.7 68.1 78.2 8

 9 Agency- and GSE-backed securities 52.3 48.0 55.7 69.2 91.0 111.5 124.3 135.8 151.7 182.4 9

 10 Corporate and foreign bonds 77.8 80.3 79.0 90.2 99.0 110.1 123.9 144.7 158.7 161.4 10

 11 Mortgages 11.2 10.1 6.8 12.6 18.2 19.7 13.0 9.9 8.5 4.7 11

 12 Corporate equities 335.9 348.2 322.3 300.6 358.9 341.4 458.6 484.5 555.6 559.9 12

 13 Mutual fund shares 5.9 4.8 7.9 6.5 6.8 6.8 11.4 15.6 22.3 39.0 13

 14 Miscellaneous assets 120.9 162.0 242.1 305.5 251.7 308.9 229.5 258.4 214.5 195.9 14

 15 Unallocated insurance contracts (2) 81.8 85.6 91.8 78.2 80.1 73.6 77.3 69.6 69.7 79.2 15

 16 Contributions receivable 11.6 11.5 10.0 9.7 14.1 16.9 25.1 30.7 38.0 44.2 16

 17 Claims of pension fund on sponsor (3) -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 17

 18 Other 51.5 54.9 57.1 75.2 68.4 43.8 41.9 35.2 35.8 34.8 18

 19 Pension entitlements (liabilities) (4) 795.2 856.9 918.6 980.3 1042.0 1103.7 1165.4 1227.2 1289.0 1350.7 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 420.4 455.5 535.6 577.1 688.7 708.5 853.1 930.3 1057.9 1127.0 1

 2 Checkable deposits and currency 1.9 1.1 1.1 2.0 2.6 2.3 2.0 1.9 2.1 2.2 2

 3 Time and savings deposits 35.6 37.3 25.4 39.8 57.7 59.0 59.0 51.1 41.2 34.7 3

 4 Money market fund shares 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 4

 5 Security repurchase agreements 5.3 5.9 5.6 6.2 8.1 8.5 10.4 11.6 12.6 10.6 5

 6 Credit market instruments 76.8 87.6 98.8 92.2 101.7 112.5 125.4 134.4 147.3 151.1 6

 7 Open market paper 7.6 8.1 10.1 7.7 9.0 9.8 11.5 12.6 13.4 11.4 7

 8 Treasury securities 32.1 23.6 29.5 27.6 29.4 28.7 32.3 34.9 36.1 42.8 8

 9 Agency- and GSE-backed securities 14.8 11.1 16.6 17.5 19.5 21.4 21.5 20.6 18.7 28.7 9

 10 Corporate and foreign bonds 19.5 43.7 41.0 35.4 38.8 47.4 54.7 61.6 74.5 65.1 10

 11 Mortgages 2.8 1.2 1.4 4.0 5.1 5.2 5.3 4.7 4.5 3.1 11

 12 Corporate equities 168.8 162.4 197.0 199.4 257.6 246.9 324.6 364.3 429.7 424.3 12

 13 Mutual fund shares 5.2 7.3 11.9 16.9 26.2 33.7 55.0 80.6 119.9 166.9 13

 14 Miscellaneous assets 117.7 142.9 183.0 205.9 217.1 227.9 257.9 266.7 278.9 305.7 14

 15 Unallocated insurance contracts (2) 49.9 61.3 94.5 108.7 124.6 141.2 167.2 178.0 198.2 218.7 15

 16 Contributions receivable 7.1 7.2 10.2 9.3 12.2 15.4 19.3 23.7 28.6 34.1 16

 17 Other 60.6 74.4 78.3 87.8 80.4 71.2 71.4 65.1 52.1 52.9 17

 18 Pension entitlements (liabilities) 420.4 455.5 535.6 577.1 688.7 708.5 853.1 930.3 1057.9 1127.0 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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Historical Annuals, 1985-1994, March 12, 2015 91

L.119 Federal Government Employee Retirement Funds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets (1) 905.0 973.7 1035.2 1098.8 1165.0 1232.5 1303.0 1377.9 1450.1 1522.7 1

 2 Credit market instruments 0.0 0.0 1.1 2.7 4.9 7.6 10.2 13.3 16.5 20.0 2

 3 Treasury securities (2) 0.0 0.0 1.1 2.7 4.9 7.5 10.0 12.9 15.8 19.1 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.5 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.4 0.4 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 6

 7 Miscellaneous assets 905.0 973.7 1034.1 1096.0 1160.0 1224.5 1291.7 1362.2 1429.2 1496.5 7

 8 Nonmarketable Treasury securities (3) 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 8

 9 Claims of pension fund on sponsor (4) 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 9

 10 Pension entitlements (liabilities) (5) 905.0 973.7 1035.2 1098.8 1165.0 1232.5 1303.0 1377.9 1450.1 1522.7 10

 Memo:

 Funded status of defined benefit plans:

 11 Pension entitlements 905.0 973.7 1034.1 1096.0 1160.0 1224.5 1291.7 1362.2 1429.2 1496.5 11

 12 Funded by assets (6) 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 12

 13 Unfunded 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 13

 Total financial assets (7)

 14 Defined benefit plans 905.0 973.7 1034.1 1096.0 1160.0 1224.5 1291.7 1362.2 1429.2 1496.5 14

 15 Defined contribution plans 0.0 0.0 1.1 2.7 4.9 7.9 11.3 15.7 20.9 26.1 15

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes nonmarketable Treasury securities held by the Thrift Savings Plan.

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

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(6) Total defined benefit financial assets less defined benefit claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on tables L.119.b and L.119.c.
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92 Historical Annuals, 1985-1994, March 12, 2015

L.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets (2) 905.0 973.7 1034.1 1096.0 1160.0 1224.5 1291.7 1362.2 1429.2 1496.5 1

 2 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 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 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Miscellaneous assets 905.0 973.7 1034.1 1096.0 1160.0 1224.5 1291.7 1362.2 1429.2 1496.5 7

 8 Nonmarketable Treasury securities (3) 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 8

 9 Claims of pension fund on sponsor (4) 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 9

 10 Pension entitlements (liabilities) (5) 905.0 973.7 1034.1 1096.0 1160.0 1224.5 1291.7 1362.2 1429.2 1496.5 10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and

 disability fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

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

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

L.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 0.0 0.0 1.1 2.7 4.9 7.9 11.3 15.7 20.9 26.1 1

 2 Credit market instruments 0.0 0.0 1.1 2.7 4.9 7.6 10.2 13.3 16.5 20.0 2

 3 Treasury securities (2) 0.0 0.0 1.1 2.7 4.9 7.5 10.0 12.9 15.8 19.1 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.5 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.4 0.4 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 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 7

 8 Pension entitlements (liabilities) 0.0 0.0 1.1 2.7 4.9 7.9 11.3 15.7 20.9 26.1 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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Historical Annuals, 1985-1994, March 12, 2015 93

L.120 State and Local Government Employee Retirement Funds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets (1) 462.8 512.1 557.0 602.9 742.6 808.9 888.5 1093.2 1177.8 1273.0 1

 2 Checkable deposits and currency 2.4 3.1 4.9 4.4 3.2 5.0 3.8 6.5 6.7 6.8 2

 3 Time and savings deposits 13.3 9.9 5.3 7.2 9.2 7.8 8.9 7.0 6.3 2.7 3

 4 Money market fund shares 1.4 1.7 2.0 2.3 2.8 2.8 3.0 3.1 4.1 5.0 4

 5 Security repurchase agreements 5.0 8.3 11.3 10.3 9.7 12.2 18.9 24.7 20.4 27.8 5

 6 Credit market instruments 252.4 297.5 329.2 351.2 382.6 403.9 406.2 443.3 470.5 480.9 6

 7 Open market paper 5.1 8.6 11.6 10.7 10.8 13.8 20.2 25.8 21.4 28.8 7

 8 Treasury securities 85.4 115.3 138.9 150.7 152.4 168.3 165.6 203.7 217.6 215.8 8

 9 Agency- and GSE-backed securities 38.1 38.2 43.0 35.4 51.2 63.1 58.2 39.8 36.0 40.3 9

 10 Municipal securities 1.1 0.7 0.8 0.5 0.3 0.5 0.6 0.4 1.4 1.1 10

 11 Corporate and foreign bonds 107.4 119.1 119.6 138.2 152.6 142.2 144.8 157.1 179.5 179.7 11

 12 Mortgages 15.3 15.6 15.3 15.6 15.3 16.1 16.9 16.5 14.5 15.2 12

 13 Corporate equities 131.1 163.1 183.5 227.9 296.8 302.1 418.0 456.6 535.2 551.2 13

 14 Mutual fund shares 6.8 5.5 9.1 7.4 7.8 7.8 13.1 17.9 25.6 44.8 14

 15 Miscellaneous assets 50.3 22.9 11.9 -7.8 30.6 67.3 16.5 134.0 109.0 153.9 15

 16 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Claims of pension fund on sponsor (3) 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 17

 18 Other 0.7 1.5 1.7 3.3 7.6 9.0 6.1 6.2 5.6 5.9 18

 19 Pension entitlements (liabilities) (4) 466.1 516.2 562.3 609.3 750.6 820.8 904.4 1114.0 1202.4 1299.0 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 454.7 502.0 547.3 592.1 729.0 800.0 878.1 1085.8 1170.0 1265.7 20

 21 Funded by assets (5) 405.1 480.7 537.2 603.2 706.0 741.7 867.7 957.9 1066.5 1117.7 21

 22 Unfunded (line 17) 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 22

 Total financial assets (6)

 23 Defined benefit plans 451.4 497.9 542.0 585.7 721.1 788.2 862.1 1065.0 1145.5 1239.8 23

 24 Defined contribution plans 11.3 14.2 15.0 17.3 21.6 20.7 26.3 28.2 32.4 33.2 24

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables L.120.b and L.120.c.
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94 Historical Annuals, 1985-1994, March 12, 2015

L.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets (1) 451.4 497.9 542.0 585.7 721.1 788.2 862.1 1065.0 1145.5 1239.8 1

 2 Checkable deposits and currency 2.4 3.1 4.8 4.4 3.2 5.0 3.8 6.5 6.6 6.7 2

 3 Time and savings deposits 13.3 9.9 5.2 7.1 9.1 7.7 8.8 6.9 6.2 2.5 3

 4 Money market fund shares 1.4 1.7 2.0 2.3 2.8 2.8 3.0 3.1 4.1 5.0 4

 5 Security repurchase agreements 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 5

 6 Credit market instruments 252.4 297.1 328.8 350.5 381.5 402.0 404.6 441.8 468.6 478.7 6

 7 Open market paper 5.0 8.3 11.3 10.2 9.7 12.2 18.9 24.7 20.4 27.8 7

 8 Treasury securities 85.4 115.3 138.9 150.7 152.4 168.2 165.5 203.5 217.5 215.6 8

 9 Agency- and GSE-backed securities 38.1 38.1 43.0 35.3 51.2 62.9 58.0 39.8 35.8 39.9 9

 10 Municipal securities 1.1 0.7 0.8 0.5 0.3 0.5 0.6 0.4 1.4 1.1 10

 11 Corporate and foreign bonds 107.4 119.1 119.5 138.2 152.6 142.1 144.7 156.9 179.0 179.1 11

 12 Mortgages 15.3 15.6 15.3 15.6 15.3 16.1 16.9 16.5 14.5 15.2 12

 13 Corporate equities 120.1 150.2 170.1 212.6 277.8 284.6 395.0 431.7 506.2 521.7 13

 14 Mutual fund shares 6.8 5.5 9.1 7.4 7.8 7.8 13.1 17.9 25.6 44.8 14

 15 Miscellaneous assets 50.1 22.0 10.7 -9.0 29.3 66.1 15.0 132.4 107.6 152.6 15

 16 Claims of pension fund on sponsor (2) 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 16

 17 Other 0.5 0.7 0.6 2.1 6.3 7.8 4.6 4.5 4.1 4.6 17

 18 Pension entitlements (liabilities) (3) 454.7 502.0 547.3 592.1 729.0 800.0 878.1 1085.8 1170.0 1265.7 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

L.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 11.3 14.2 15.0 17.3 21.6 20.7 26.3 28.2 32.4 33.2 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 2

 3 Time and savings deposits 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 3

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

 5 Security repurchase agreements 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 0.1 0.4 0.4 0.6 1.1 1.9 1.6 1.5 1.8 2.2 6

 7 Open market paper 0.1 0.4 0.3 0.6 1.1 1.5 1.3 1.1 1.0 1.0 7

 8 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.1 0.2 8

 9 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.2 0.1 0.1 0.2 0.4 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.0 0.1 0.1 0.0 0.0 0.1 0.1 0.2 0.5 0.6 11

 12 Corporate equities 11.0 12.9 13.4 15.2 19.0 17.5 23.1 24.9 29.0 29.6 12

 13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Miscellaneous assets 0.2 0.8 1.2 1.2 1.3 1.2 1.5 1.7 1.4 1.3 14

 15 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Other 0.2 0.8 1.2 1.2 1.3 1.2 1.5 1.7 1.4 1.3 16

 17 Pension entitlements (liabilities) 11.3 14.2 15.0 17.3 21.6 20.7 26.3 28.2 32.4 33.2 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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L.121 Money Market Mutual Funds (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 1

 2 Foreign deposits 18.9 22.0 21.4 29.3 26.1 26.7 21.4 20.3 10.0 15.7 2

 3 Checkable deposits and currency 0.2 -0.0 -0.3 0.7 0.1 11.2 -0.2 -2.7 -1.2 -2.5 3

 4 Time and savings deposits 17.3 20.1 34.5 33.8 43.0 21.9 35.1 34.6 31.9 31.4 4

 5 Security repurchase agreements 25.9 31.9 38.9 41.2 54.3 58.2 67.0 65.9 66.4 68.8 5

 6 Credit market instruments 178.2 213.1 215.0 225.5 293.7 371.3 403.9 408.6 429.0 459.0 6

 7 Open market paper 98.4 104.4 110.1 127.5 184.5 204.0 190.6 173.6 164.4 187.2 7

 8 Treasury securities 24.4 27.8 14.1 11.4 14.6 44.9 78.3 78.4 79.4 66.1 8

 9 Agency- and GSE-backed securities 18.0 15.0 26.7 18.2 20.8 36.4 40.6 54.3 67.8 77.2 9

 10 Municipal securities 36.4 64.1 61.8 66.1 70.1 84.0 90.6 96.0 105.6 113.4 10

 11 Corporate and foreign bonds 1.0 1.8 2.2 2.3 3.7 2.0 3.8 6.3 11.7 15.2 11

 12 Miscellaneous assets 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 12

 13 Total shares outstanding (liabilities) 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.116).

L.122 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 1

 2 Security repurchase agreements 1.3 2.8 3.6 4.9 4.8 6.1 12.2 21.9 38.7 43.1 2

 3 Credit market instruments 129.9 259.9 291.1 304.5 327.2 360.1 440.2 566.4 725.9 718.8 3

 4 Open market paper 7.9 15.8 19.5 28.6 28.0 28.5 12.2 21.9 38.7 43.1 4

 5 Treasury securities 38.8 71.2 84.1 80.3 81.4 87.1 103.9 110.4 134.0 130.5 5

 6 Agency- and GSE-backed securities 26.1 63.4 66.2 62.8 64.5 72.6 96.7 147.0 172.6 165.8 6

 7 Municipal securities 34.9 67.0 74.8 82.9 98.6 112.6 139.7 168.4 211.3 207.0 7

 8 Corporate and foreign bonds 22.2 42.4 46.6 49.8 54.6 59.3 87.7 118.7 169.3 172.4 8

 9 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate equities 113.7 161.2 181.7 187.6 250.5 233.2 308.9 401.3 607.4 709.6 10

 11 Miscellaneous assets 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 11

 12 Total shares outstanding (liabilities) 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.116).

L.123 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Total financial assets 8.3 14.5 21.3 43.2 52.5 52.9 71.2 93.5 116.1 117.8 1

 2 Credit market instruments 4.1 7.0 11.0 28.8 35.4 36.7 49.5 69.7 89.7 86.0 2

 3 Treasury securities 0.6 1.0 1.6 4.8 6.6 6.8 10.0 11.6 13.7 12.8 3

 4 Municipal securities 1.0 2.0 3.3 7.5 12.1 14.1 25.4 39.7 51.8 53.4 4

 5 Corporate and foreign bonds 2.5 3.9 6.1 16.5 16.7 15.7 14.1 18.3 24.2 19.8 5

 6 Corporate equities 4.2 7.5 10.4 14.3 17.1 16.2 21.8 23.8 26.5 31.9 6

 7 Total shares outstanding (liabilities) 8.3 14.5 21.3 43.2 52.5 52.9 71.2 93.5 116.1 117.8 7

 Exchange-traded funds

 8 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

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

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 13

 14 Total shares outstanding (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 14
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96 Historical Annuals, 1985-1994, March 12, 2015

L.124 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 324.0 346.4 374.4 421.7 454.2 477.6 496.9 552.8 631.7 782.3 1

 2 Checkable deposits and currency 2.1 3.7 3.6 3.6 2.3 2.1 1.2 1.2 2.1 1.3 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Federal funds and security repos 26.9 29.4 27.2 33.8 61.8 68.7 67.6 66.6 50.3 85.8 4

 5 Credit market instruments 291.0 307.6 330.9 364.2 359.9 373.9 388.9 458.1 546.7 667.9 5

 6 Open market paper 0.1 0.1 0.0 0.4 3.3 3.8 10.9 13.5 11.9 26.3 6

 7 Treasury securities 6.8 16.3 21.0 26.3 13.0 34.3 40.8 58.7 51.6 51.9 7

 8 Agency- and GSE-backed securities 0.8 0.2 0.1 0.3 6.3 11.9 34.8 47.5 66.0 130.8 8

 9 Municipal securities 1.6 2.3 2.4 2.9 2.9 3.7 3.0 3.2 3.1 5.2 9

 10 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 20.0 10

 11 Other loans and advances 115.2 132.8 157.8 176.6 168.0 144.8 110.7 111.3 135.2 158.8 11

 12 Sallie Mae 4.3 5.2 6.6 6.3 6.8 7.8 9.0 7.4 6.6 6.6 12

 13 Farm Credit System 22.0 19.0 18.2 17.5 19.4 19.9 22.7 24.0 25.4 26.3 13

 14 FHLB 88.8 108.6 133.1 152.8 141.8 117.1 79.1 79.9 103.1 125.9 14

 15 Mortgages 159.7 147.8 139.5 144.5 150.5 156.1 167.7 199.7 241.0 244.6 15

 16 Home 111.6 105.9 102.8 109.0 114.1 119.5 130.7 161.0 201.1 204.1 16

 17 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other 111.6 105.9 102.8 109.0 114.1 119.5 130.7 161.0 201.1 204.1 18

 19 Multifamily residential 8.5 8.7 8.4 9.5 12.0 13.2 14.2 15.8 17.5 18.4 19

 20 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Other 8.5 8.7 8.4 9.5 12.0 13.2 14.2 15.8 17.5 18.4 21

 22 Farm 39.6 33.1 28.2 25.9 24.3 23.5 22.8 22.9 22.4 22.1 22

 23 Consumer credit (3) 6.8 8.2 10.0 13.2 16.0 19.2 21.1 24.2 26.8 30.4 23

 24 Miscellaneous assets 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 24

 25 Total liabilities 318.8 341.8 368.8 414.8 446.3 467.8 484.2 537.4 613.0 760.2 25

 26 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Credit market instruments 263.9 278.7 308.2 353.1 378.3 398.5 407.7 448.4 529.0 701.0 27

 28 GSE issues (4) 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 28

 29 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Other 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 30

 31 U.S. government loans 6.1 5.7 5.0 5.0 5.0 4.9 4.8 4.8 4.8 0.0 31

 32 Miscellaneous liabilities 54.9 63.1 60.7 61.8 68.0 69.2 76.5 89.0 84.0 59.1 32

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.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.

L.125 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Total financial assets 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 1

 2 Home mortgages 360.5 519.5 652.9 723.6 843.8 991.1 1130.4 1248.2 1334.3 1449.6 2

 3 Multifamily residential mortgages 7.0 11.9 16.4 21.6 25.7 28.7 26.1 23.8 22.5 22.4 3

 4 Commercial mortgages 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.4 5

 6 Total pool securities (liabilities)(2) 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (table L.124). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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Historical Annuals, 1985-1994, March 12, 2015 97

L.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 37.2 74.7 118.3 154.4 209.8 267.7 321.0 383.7 466.2 536.1 1

 2 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Agency- and GSE-backed securities (1) 10.2 53.5 81.8 107.1 99.1 103.3 76.6 60.0 83.6 106.7 3

 4 Other loans and advances 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 4

 5 Mortgages (2) 24.6 17.9 31.5 40.5 52.6 66.0 113.1 167.9 204.3 224.5 5

 6 Home 24.0 16.6 27.8 34.9 43.3 55.0 96.7 142.3 167.9 183.0 6

 7 Multifamily residential 0.0 0.2 0.5 1.0 1.0 0.9 3.8 6.6 8.4 9.8 7

 8 Commercial 0.6 1.1 3.1 4.6 8.4 10.1 12.6 19.1 28.1 31.6 8

 9 Consumer credit 0.0 0.0 0.0 0.0 47.3 76.7 103.0 120.3 130.5 146.1 9

 10 Trade credit 2.4 3.3 5.1 6.8 8.7 17.4 21.5 25.8 28.4 35.2 10

 11 Total liabilities 37.2 74.7 118.3 154.4 209.8 269.2 323.0 385.5 468.0 538.3 11

 12 Commercial paper 2.4 3.3 5.1 6.8 15.7 31.4 38.7 46.9 51.6 63.9 12

 13 Corporate bonds (net) (3) 34.8 71.4 113.2 147.6 194.1 237.8 284.2 338.7 416.5 474.3 13

 Memo:

 Securitized assets not included above

 14 Consumer leases (4) 0.0 0.0 0.0 0.0 0.0 1.5 2.0 1.9 1.9 2.2 14

 15 REIT assets (5) 2.2 6.7 13.0 14.6 15.3 15.3 15.0 14.3 12.5 9.0 15

 Securitized liabilities not included above

 16 Commercial paper (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Liabilities net of assets.

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

 The leased automobile is a nonfinancial asset.

(5) Included in table L.128.

(6) Included in table L.111 line 43.

L.127 Finance Companies (1)

Billions of dollars

 1 Total financial assets 363.1 423.8 470.3 519.7 568.6 596.1 620.0 616.1 617.8 636.1 1

 2 Checkable deposits and currency 4.4 5.4 6.7 7.9 8.7 9.9 12.2 12.6 14.1 15.5 2

 3 Time and savings deposits 1.5 2.3 2.9 3.4 4.7 5.3 8.1 8.4 11.5 12.7 3

 4 Credit market instruments 353.2 409.9 448.3 493.3 537.3 564.8 572.5 575.0 563.1 595.1 4

 5 Corporate and foreign bonds 17.3 22.4 28.1 32.9 39.0 44.4 59.3 61.2 74.8 82.4 5

 6 Other loans and advances 150.2 165.8 200.1 228.7 250.8 268.1 263.8 264.9 249.0 274.9 6

 7 Mortgages 53.3 70.8 66.1 76.4 102.9 114.1 123.6 126.3 123.1 103.3 7

 8 Consumer credit 132.4 151.0 154.1 155.3 144.6 138.1 125.9 122.6 116.1 134.4 8

 9 U.S. direct investment abroad 3.4 5.7 5.2 7.3 23.1 18.7 21.2 24.6 44.6 25.9 9

 10 Miscellaneous assets 0.6 0.6 7.1 7.8 -5.1 -2.6 6.0 -4.4 -15.5 -13.0 10

 11 Total liabilities 345.9 407.4 449.1 490.3 533.0 560.9 591.8 608.4 614.7 654.9 11

 12 Credit market instruments 241.0 301.5 313.6 337.5 375.0 398.1 411.7 416.6 415.3 452.5 12

 13 Open market paper 102.7 124.3 135.0 152.1 160.7 163.8 155.2 149.2 149.1 171.6 13

 14 Corporate bonds 105.3 131.6 141.2 147.0 162.7 179.5 194.3 203.1 215.6 247.4 14

 15 Depository institution loans n.e.c. 33.1 45.7 37.4 38.4 51.6 54.8 62.3 64.3 50.6 33.5 15

 16 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Taxes payable 0.1 0.2 0.4 0.7 1.0 1.4 1.9 2.6 3.3 4.1 17

 18 Foreign direct investment in U.S. 1.4 3.6 3.5 2.7 9.3 4.6 5.6 4.2 10.2 6.0 18

 19 Miscellaneous liabilities 103.4 102.1 131.6 149.5 147.7 156.8 172.5 185.0 185.9 192.3 19

 20 Investment by parent 60.6 70.9 59.4 36.8 35.2 36.7 32.4 34.3 35.6 41.8 20

 21 Other 42.8 31.2 72.2 112.7 112.4 120.1 140.1 150.6 150.3 150.5 21

 Memo:

 22 Consumer leases not included above (2) 8.6 11.4 13.7 16.6 19.4 26.1 33.5 39.0 49.3 67.5 22

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table L.126.
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98 Historical Annuals, 1985-1994, March 12, 2015

L.128 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 10.4 15.0 23.4 28.5 30.7 28.5 29.0 28.1 30.0 31.0 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 8.7 13.7 21.2 25.4 26.0 24.2 23.6 25.0 25.4 24.6 3

 4 Agency- and GSE-backed securities 2.8 7.7 14.2 16.7 17.6 16.5 16.6 15.9 15.6 9.2 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.2 2.1 5

 6 Mortgages 5.9 5.9 7.0 8.7 8.4 7.7 7.0 8.1 8.6 13.3 6

 7 Home 0.3 0.3 0.3 0.4 0.4 0.4 0.4 1.1 2.2 5.1 7

 8 Multifamily residential 1.8 1.8 2.1 2.6 2.5 2.3 2.2 2.2 1.9 2.1 8

 9 Commercial 3.8 3.9 4.5 5.6 5.4 5.0 4.5 4.8 4.5 6.1 9

 10 Miscellaneous assets 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 10

 11 Total liabilities 8.3 14.1 22.5 28.4 29.1 28.9 31.5 33.5 37.2 55.1 11

 12 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 5.0 9.7 12

 13 Credit market instruments 7.6 13.3 21.3 24.8 26.9 27.7 28.6 28.2 29.9 40.0 13

 14 Open market paper 0.7 1.1 1.4 1.3 1.1 0.9 0.9 0.9 0.6 0.0 14

 15 Corporate bonds 3.7 8.5 15.3 17.1 18.0 18.1 17.9 18.2 16.8 15.3 15

 16 Depository institution loans n.e.c. 0.7 1.0 1.5 3.1 4.1 4.4 5.0 3.7 3.6 6.0 16

 17 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 17

 18 Miscellaneous liabilities 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 18

 Memo:

 19 Securitized assets included above 2.2 6.7 13.0 14.6 15.3 15.3 15.0 14.3 12.5 9.0 19

 20 Agency- and GSE-backed securities 2.2 6.7 13.0 14.6 15.3 15.3 15.0 13.7 11.4 6.4 20

 21 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 1.1 2.5 21

 22 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables L.128.e and L.128.m.
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Historical Annuals, 1985-1994, March 12, 2015 99

L.128.e Equity Real Estate Investment Trusts

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 9.5 13.4 20.9 25.3 27.5 25.3 25.5 24.4 25.9 25.0 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 3.1 3.1 3.6 4.5 4.3 4.0 3.6 3.9 3.7 5.0 3

 4 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.3 4

 5 Mortgages 3.1 3.1 3.6 4.5 4.3 4.0 3.6 3.8 3.5 4.7 5

 6 Home 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 6

 7 Multifamily residential 0.6 0.6 0.8 0.9 0.9 0.8 0.8 0.8 0.7 0.8 7

 8 Commercial 2.4 2.4 2.9 3.6 3.4 3.1 2.8 3.0 2.8 3.9 8

 9 Miscellaneous assets 6.4 10.3 17.3 20.8 23.1 21.3 21.9 20.5 22.2 19.9 9

 10 Total liabilities 7.4 12.5 20.0 25.2 25.9 25.7 28.0 29.8 33.1 49.0 10

 11 Credit market instruments 6.1 10.4 16.6 19.7 21.8 22.7 23.6 23.2 25.5 36.4 11

 12 Corporate bonds 2.9 6.7 12.1 13.5 14.2 14.3 14.2 14.4 13.3 12.1 12

 13 Depository institution loans n.e.c. 0.6 0.9 1.4 2.9 3.8 4.1 4.7 3.5 3.3 5.6 13

 14 Mortgages 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 14

 15 Multifamily residential 0.8 0.9 1.0 1.1 1.2 1.4 1.6 1.8 3.0 6.2 15

 16 Commercial 1.7 1.9 2.1 2.3 2.5 2.9 3.2 3.6 6.0 12.5 16

 17 Miscellaneous liabilities 1.3 2.1 3.4 5.5 4.1 3.0 4.4 6.6 7.6 12.6 17

L.128.m Mortgage Real Estate Investment Trusts

Billions of dollars

 1 Total financial assets 0.9 1.6 2.5 3.1 3.2 3.2 3.5 3.7 4.1 6.1 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 5.6 10.6 17.5 20.9 21.6 20.2 20.0 21.0 21.7 19.6 3

 4 Agency- and GSE-backed securities 2.8 7.7 14.2 16.7 17.6 16.5 16.6 15.9 15.6 9.2 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.9 1.0 1.8 5

 6 Mortgages 2.9 2.9 3.4 4.2 4.0 3.7 3.4 4.3 5.1 8.6 6

 7 Home 0.3 0.3 0.3 0.4 0.4 0.4 0.4 1.1 2.2 5.0 7

 8 Multifamily residential 1.1 1.1 1.3 1.7 1.6 1.5 1.4 1.4 1.2 1.4 8

 9 Commercial 1.4 1.4 1.7 2.1 2.0 1.8 1.7 1.8 1.7 2.3 9

 10 Miscellaneous assets -4.7 -9.0 -15.1 -17.8 -18.4 -17.0 -16.5 -17.3 -17.6 -13.6 10

 11 Total liabilities 0.9 1.6 2.5 3.1 3.2 3.2 3.5 3.7 4.1 6.1 11

 12 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 5.0 9.7 12

 13 Credit market instruments 1.5 2.9 4.7 5.1 5.2 5.0 5.0 5.0 4.3 3.6 13

 14 Open market paper 0.7 1.1 1.4 1.3 1.1 0.9 0.9 0.9 0.6 0.0 14

 15 Corporate bonds 0.8 1.8 3.2 3.6 3.8 3.8 3.8 3.8 3.5 3.2 15

 16 Depository institution loans n.e.c. 0.0 0.1 0.1 0.2 0.3 0.3 0.4 0.3 0.2 0.4 16

 17 Miscellaneous liabilities -0.6 -1.3 -2.2 -2.0 -2.0 -1.8 -1.6 -4.2 -5.3 -7.3 17

 Memo:

 18 Securitized assets included above 2.2 6.7 13.0 14.6 15.3 15.3 15.0 14.3 12.5 9.0 18

 19 Agency- and GSE-backed securities 2.2 6.7 13.0 14.6 15.3 15.3 15.0 13.7 11.4 6.4 19

 20 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 1.1 2.5 20

 21 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22
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100 Historical Annuals, 1985-1994, March 12, 2015

L.129 Security Brokers and Dealers

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 299.2 373.0 402.6 447.9 553.8 559.9 651.5 789.5 969.6 942.5 1

 2 Checkable deposits and currency 6.3 8.5 7.4 9.4 9.8 10.2 10.2 10.4 12.3 12.0 2

 3 Security repurchase agreements 143.2 188.4 264.6 312.1 317.3 297.8 319.0 407.7 490.9 487.7 3

 4 Credit market instruments 58.2 66.3 39.8 23.5 103.7 106.5 124.0 122.7 137.5 93.3 4

 5 Open market paper 14.5 12.6 14.2 14.8 17.8 18.4 14.0 15.2 14.9 11.2 5

 6 Treasury securities -4.0 4.1 -16.7 -47.4 21.5 7.3 5.7 -7.7 -28.3 -42.7 6

 7 Agency- and GSE-backed securities 4.9 9.8 14.6 19.5 24.4 44.0 54.0 53.0 60.8 45.0 7

 8 Municipal securities 19.9 16.6 8.3 7.5 7.1 7.9 9.4 11.3 17.1 15.5 8

 9 Corporate and foreign bonds 22.9 23.2 19.4 29.1 32.9 28.9 40.9 50.9 73.0 64.4 9

 10 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate equities 14.1 17.7 10.7 12.2 14.1 9.6 14.3 14.8 24.2 20.1 11

 12 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 12

 13 U.S. direct investment abroad 0.9 1.2 2.8 2.7 2.3 2.5 3.5 5.4 4.3 2.6 13

 14 Miscellaneous assets 25.9 33.5 35.4 44.5 64.2 94.5 125.5 175.0 224.3 251.6 14

 15 Total liabilities 284.5 352.7 379.1 423.5 530.5 537.1 627.7 760.5 951.5 916.9 15

 16 Security repurchase agreements 168.2 224.4 269.1 300.8 396.6 396.7 441.9 567.4 675.4 652.0 16

 17 Credit market instruments 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 17

 18 Corporate bonds 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 18

 19 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Trade payables 8.0 7.6 6.8 8.5 8.0 6.1 6.8 7.4 10.1 9.1 20

 21 Security credit 79.2 83.3 60.2 64.2 76.3 80.7 117.6 110.9 144.8 143.0 21

 22 From households 49.8 59.0 41.1 45.1 55.3 64.9 95.5 85.5 112.3 115.7 22

 23 From U.S.-chartered depository institutions 24.0 18.5 16.2 16.2 18.2 12.8 14.8 16.8 22.9 19.0 23

 24 From foreign banking offices in U.S. 5.4 5.8 3.0 2.9 2.8 3.1 7.4 8.6 9.6 8.3 24

 25 Taxes payable 0.8 0.9 0.4 0.5 0.6 0.7 0.9 0.9 1.4 1.2 25

 26 Foreign direct investment in U.S. 3.8 3.6 3.1 4.8 6.3 3.8 5.8 5.3 23.7 14.0 26

 27 Miscellaneous liabilities 23.1 29.5 36.2 37.2 28.9 33.8 35.8 46.9 62.4 63.2 27

 28 Investment by parent companies 43.3 46.7 60.6 87.5 95.4 82.3 85.8 102.3 127.5 144.2 28

 29 Other -20.2 -17.2 -24.4 -50.3 -66.5 -48.6 -50.0 -55.4 -65.1 -81.0 29

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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Historical Annuals, 1985-1994, March 12, 2015 101

L.130 Holding Companies (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 259.5 286.3 297.6 319.0 338.7 325.4 328.6 363.3 407.6 438.8 1

 2 Time and savings deposits 20.2 20.4 18.5 18.8 18.9 4.6 2.4 1.4 1.3 0.9 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.4 1.4 1.3 0.8 1.0 3

 4 Credit market instruments 11.8 11.5 13.5 13.4 16.2 13.4 11.9 17.5 17.5 18.4 4

 5 Treasury securities 0.8 0.6 0.7 0.8 0.9 0.7 1.0 6.1 5.3 4.6 5

 6 Agency- and GSE-backed securities 2.1 1.7 2.1 2.1 2.4 1.9 2.4 2.2 3.1 4.8 6

 7 Corporate and foreign bonds 6.8 5.5 6.5 6.7 7.5 5.6 5.1 5.4 7.2 7.1 7

 8 Other loans and advances 2.1 3.6 4.1 3.9 5.5 5.3 3.4 3.7 1.9 1.8 8

 9 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Miscellaneous assets 227.4 254.3 265.6 286.7 303.6 307.0 312.9 343.1 388.0 418.6 10

 11 Net trans. with depository subs. 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 11

 12 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Net trans. with life insurance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Net trans. with finance company subs. 43.9 52.2 46.9 27.3 25.3 21.2 14.8 14.8 21.2 25.2 14

 15 Net trans. with broker and dealer subs. 27.3 27.3 38.9 59.0 67.0 48.5 41.3 38.7 46.6 47.3 15

 16 Net trans. with foreign subs. 16.6 15.3 11.8 10.1 8.3 7.9 10.3 4.5 6.8 14.6 16

 17 Other 4.2 6.0 7.3 6.6 8.8 17.7 17.3 19.1 17.3 19.8 17

 18 Total liabilities 123.2 145.6 161.7 167.5 177.2 149.8 138.3 142.1 149.5 165.7 18

 19 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 19

 20 Credit market instruments 118.7 130.0 145.0 149.9 155.2 124.6 118.5 118.4 128.0 141.5 20

 21 Commercial paper 46.4 43.1 44.6 44.4 48.8 30.1 24.3 20.4 25.6 31.6 21

 22 Corporate bonds 59.8 73.7 86.5 91.8 93.7 84.7 88.0 94.1 97.7 102.0 22

 23 Depository institution loans n.e.c. 12.5 13.2 13.9 13.6 12.7 9.8 6.2 3.8 4.6 7.9 23

 24 Miscellaneous liabilities 4.6 15.5 16.7 17.6 22.0 25.2 19.8 23.6 21.4 24.2 24

(1) Parent-only bank holding companies and savings and loan holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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102 Historical Annuals, 1985-1994, March 12, 2015

L.131 Funding Corporations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 123.5 134.5 171.7 203.3 218.6 235.6 268.4 327.4 331.1 356.5 1

 2 Money market fund shares 3.7 6.3 8.5 12.5 20.6 36.6 54.1 80.9 95.8 108.9 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 109.9 106.6 4

 5 Open market paper 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 105.9 92.6 5

 6 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 14.0 6

 7 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 9

 10 Investment in foreign banking offices 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 10

 11 Investment in brokers and dealers 16.0 19.4 21.7 28.5 28.3 33.8 44.5 63.7 80.8 96.9 11

 12 Total liabilities 123.5 134.5 171.7 203.3 218.6 235.6 268.4 327.4 331.1 356.5 12

 13 Credit market instruments 38.7 58.7 79.7 117.8 130.3 147.1 143.1 168.6 180.3 211.0 13

 14 Open market paper 35.6 54.1 72.5 111.6 125.4 139.4 128.4 142.2 140.3 151.1 14

 15 Corporate bonds 3.1 4.6 7.2 6.2 4.9 7.7 14.7 26.4 40.0 60.0 15

 16 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Foreign direct investment in U.S. 0.0 -12.4 -23.9 -42.4 -52.4 -65.7 -51.4 -53.8 -54.9 -70.1 18

 19 Miscellaneous liabilities 84.8 88.2 115.9 128.0 140.8 154.1 176.7 212.7 205.7 215.5 19

 20 Securities loaned (net) 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 20

 21 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other (net) 78.0 76.2 100.8 104.8 101.5 82.7 73.7 59.1 8.6 -6.2 22

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP.
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Historical Annuals, 1985-1994, March 12, 2015 103

L.132 Rest of the World

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total financial assets 927.2 1135.6 1284.3 1492.8 1737.5 1831.8 1955.6 2230.2 2510.6 2735.8 1

 2 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 2

 3 Net interbank assets -17.5 -17.3 18.3 26.4 -7.1 -3.1 -1.1 7.7 21.2 105.8 3

 4 U.S. checkable deposits and currency 54.4 59.6 62.0 65.6 69.5 85.8 97.2 109.8 126.2 148.6 4

 5 U.S. time deposits 43.3 40.8 42.3 43.4 49.5 49.0 48.9 169.5 192.6 204.2 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.4 1.2 2.0 2.7 3.5 4.3 6

 7 Security repurchase agreements 7.5 10.9 13.1 13.0 23.1 19.7 20.9 41.7 58.6 46.6 7

 8 Credit market instruments 419.9 536.4 586.5 688.6 815.8 881.7 909.6 983.1 1095.0 1162.8 8

 9 Open market paper 8.2 8.0 9.0 11.8 12.7 10.7 11.3 12.9 18.8 24.9 9

 10 Treasury securities 226.4 269.4 296.3 353.8 423.7 438.4 476.3 520.3 594.6 632.6 10

 11 Treasury bills 69.1 90.4 101.7 115.1 91.1 96.8 110.7 127.6 176.7 162.9 11

 12 Other Treasury securities 157.3 179.0 194.6 238.8 332.6 341.6 365.6 392.7 417.8 469.6 12

 13 Agency- and GSE-backed securities 17.5 25.0 28.3 34.2 47.2 49.4 58.5 71.4 103.2 106.8 13

 14 Municipal securities 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 2.8 3.0 14

 15 U.S. corporate bonds (1) 110.7 154.9 173.2 187.0 207.8 208.7 236.0 246.0 261.4 273.5 15

 16 Loans to U.S. corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 16

 17 U.S. corporate equities 136.8 183.2 189.0 213.8 275.7 242.6 291.2 308.8 341.0 352.8 17

 18 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 5.8 17.4 29.0 40.6 18

 19 Trade receivables 30.0 31.4 31.5 33.6 36.3 42.6 40.8 42.5 43.5 45.0 19

 20 Foreign direct investment in U.S. (2) 247.2 284.7 334.6 401.8 467.9 505.3 533.4 540.3 593.3 618.0 20

 21 Total liabilities 966.3 1043.0 1152.1 1235.9 1332.6 1441.1 1455.8 1476.7 1633.4 1791.3 21

 22 U.S. official reserve assets (3) 32.1 37.4 34.7 36.7 63.6 72.3 66.7 60.3 62.4 63.3 22

 23 U.S. private deposits 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 23

 24 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Credit market instruments 335.5 346.6 357.7 393.7 389.7 396.7 406.7 426.4 521.1 501.0 25

 26 Commercial paper 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 26

 27 Bonds 60.4 72.4 79.3 126.6 135.4 152.6 164.3 193.5 303.7 321.4 27

 28 Depository institution loans n.e.c. 135.6 135.0 136.6 123.0 104.8 89.1 90.5 85.1 83.5 73.0 28

 29 Other loans and advances 105.6 101.8 100.6 94.1 86.5 79.7 69.9 69.3 65.2 63.9 29

 30 Trade payables 10.0 10.0 10.6 12.2 13.9 15.5 17.4 18.6 21.4 24.0 30

 31 U.S. direct investment abroad (1,2) 407.8 437.5 506.6 535.9 570.7 629.8 657.7 674.4 723.5 786.6 31

 32 Miscellaneous liabilities 32.4 31.6 29.2 28.7 27.9 28.9 33.8 29.4 33.2 42.5 32

 33 U.S. equity in IBRD, etc. 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 33

 34 Nonofficial foreign currencies 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 34

 35 Investment by holding companies 16.6 15.3 11.8 10.1 8.3 7.9 10.3 4.5 6.8 14.6 35

 Memo:

 36 Market value of foreign equities 44.4 72.4 94.7 128.7 197.3 197.6 279.0 314.3 543.9 626.8 36

 held by U.S. residents (4)

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

(2) Direct investment is valued on a current-cost basis.

(3) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).
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104 Historical Annuals, 1985-1994, March 12, 2015

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 37.5 43.4 41.7 43.3 70.0 79.2 73.7 67.0 69.1 70.4 1

 2 Federal government: SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 2

 3 Rest of the world 32.1 37.4 34.7 36.7 63.6 72.3 66.7 60.3 62.4 63.3 3

 4 SDR holdings 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 4

 5 Reserve position in IMF 12.0 11.7 11.3 9.7 9.0 9.1 9.5 11.8 11.8 12.0 5

 6 Other reserves 12.9 17.3 13.1 17.4 44.6 52.2 45.9 40.0 41.5 41.2 6

 7 Total assets 48.6 54.5 52.8 54.4 81.0 90.3 84.7 78.1 80.2 81.5 7

 8 Federal government 25.1 28.0 29.1 27.7 32.3 39.7 39.1 38.8 40.2 41.4 8

 9 Monetary gold (2) 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 9

 10 SDR holdings 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 10

 11 Reserve position in IMF 12.0 11.8 11.4 9.8 9.1 9.1 9.6 11.9 11.9 12.1 11

 12 Other reserves 5.8 7.8 7.4 8.2 13.2 19.6 18.3 18.5 19.2 19.2 12

 13 Rest of the world: SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 13

 14 Monetary authority 18.1 20.5 16.7 20.1 42.3 43.6 38.6 32.5 33.3 33.0 14

 15 Monetary gold (2) 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 15

 16 Reserve position in IMF -0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

 17 Other reserves 7.0 9.5 5.7 9.1 31.3 32.6 27.6 21.5 22.3 22.0 17

 18 Discrepancy: monetary gold -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 -11.1 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 1

 2 Asset: Monetary authority 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 2

 Treasury currency:

 3 Liab: Federal government 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 3

 4 Asset: Monetary authority 17.1 17.6 18.2 18.8 19.6 20.4 21.0 21.4 22.1 23.0 4

 5 Discrepancy (seigniorage) -3.8 -3.8 -4.0 -4.1 -4.3 -4.1 -4.7 -4.9 -5.1 -5.3 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 1

 Held by:

 2 Household sector 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 2

 3 Nonfinancial corporate business 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 3

 4 Money market mutual funds 18.9 22.0 21.4 29.3 26.1 26.7 21.4 20.3 10.0 15.7 4

 5 Discrepancy--unallocated assets 105.8 129.9 165.9 167.1 214.2 243.1 221.1 216.1 231.6 323.7 5
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Historical Annuals, 1985-1994, March 12, 2015 105

L.203 Net Interbank Transactions

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities -7.5 -4.3 28.2 32.6 -9.6 -0.7 4.9 11.3 31.7 123.4 1

 2 Monetary authority 54.2 73.8 66.6 66.9 67.0 71.2 63.0 63.9 67.6 68.9 2

 3 U.S.-chartered depository institutions -111.6 -128.0 -95.4 -100.0 -121.9 -110.4 -78.0 -62.1 -43.1 29.2 3

 4 Foreign banking offices in U.S. 77.7 85.4 91.9 96.8 74.0 67.4 53.7 44.2 40.4 49.9 4

 5 Banks in U.S.-affiliated areas -4.5 -4.4 -3.6 -3.0 -2.6 -2.5 -1.8 -1.3 -1.0 -1.4 5

 6 Credit unions -23.3 -31.0 -31.4 -28.2 -26.0 -26.5 -32.1 -33.6 -32.1 -23.2 6

 7 Total assets 40.7 59.3 89.6 96.7 61.5 70.6 62.8 75.6 89.8 174.2 7

 8 Monetary authority 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 8

 9 U.S.-chartered depository institutions 52.2 71.2 64.5 65.8 66.0 70.0 62.1 63.3 66.6 68.0 9

 10 Foreign banking offices in U.S. 2.0 2.6 2.2 1.1 1.0 1.2 0.9 0.7 1.0 1.0 10

 11 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Rest of the world -17.5 -17.3 18.3 26.4 -7.1 -3.1 -1.1 7.7 21.2 105.8 12

 13 Discrepancy -48.2 -63.6 -61.4 -64.1 -71.1 -71.3 -57.9 -64.3 -58.1 -50.8 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 14

 15 Asset: U.S.-chartered depository institutions 25.5 25.7 24.9 27.6 28.7 32.6 33.6 31.9 32.7 38.1 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority 28.6 48.1 41.8 39.3 38.3 38.7 29.4 32.1 35.0 30.8 17

 18 Asset: U.S.-chartered depository institutions 26.6 45.5 39.6 38.3 37.3 37.4 28.5 31.4 34.0 29.8 18

 19 Foreign banking offices in U.S. 2.0 2.6 2.2 1.1 1.0 1.2 0.9 0.7 1.0 1.0 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 21

 22 Asset: Monetary authority 4.0 2.8 4.6 3.5 1.6 2.4 0.9 3.9 1.0 -0.5 22

 23 Federal Reserve float 1.0 1.3 0.8 1.3 1.1 2.2 0.7 3.3 0.9 -0.7 23

 24 Loans to member banks 3.1 1.6 3.8 2.2 0.5 0.2 0.2 0.7 0.1 0.2 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) -44.2 -51.0 -20.1 -16.3 -25.8 -19.5 -16.6 -8.3 8.1 78.6 25

 26 Due to foreign affiliates 55.8 47.7 62.7 76.1 63.6 77.5 86.0 97.3 104.5 162.4 26

 27 - Due from foreign affiliates 100.0 98.7 82.9 92.4 89.5 97.1 102.5 105.6 96.4 83.8 27

 28 Foreign banking offices in U.S. (net) 43.8 49.3 52.2 54.8 30.4 26.2 28.9 26.9 24.0 39.7 28

 29 Due to foreign affiliates 92.5 144.2 169.2 197.2 195.2 195.9 221.3 228.8 209.0 219.1 29

 30 - Due from foreign affiliates 48.7 95.0 117.0 142.3 164.8 169.7 192.4 201.9 185.1 179.4 30

 31 Less: Deposits at foreign banks 17.1 15.6 13.8 12.2 11.7 9.8 13.5 10.9 10.9 12.5 31

 32 U.S.-chartered depository institutions 13.6 12.3 10.4 9.9 7.8 6.8 9.7 7.9 8.5 8.1 32

 33 Foreign banking offices in U.S. 3.5 3.3 3.4 2.3 3.9 3.0 3.7 3.0 2.4 4.4 33

 34 Plus: Loans from foreign banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 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 35

 36 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 36

 37 Asset: Rest of the world (1) -17.5 -17.3 18.3 26.4 -7.1 -3.1 -1.1 7.7 21.2 105.8 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) -57.9 -67.6 -69.5 -77.3 -89.9 -86.5 -52.7 -49.8 -43.7 -40.8 38

 39 Due to (3): 21.6 32.5 41.4 39.2 46.0 47.2 71.9 68.2 70.2 77.2 39

 40 Foreign banking offices in U.S. 42.0 60.7 67.9 72.2 88.4 89.5 96.0 97.7 95.2 103.4 40

 41 Banks in U.S.-affiliated areas 4.5 4.4 3.6 3.0 2.6 2.5 1.8 1.3 1.0 1.4 41

 42 Credit unions 23.3 31.0 31.4 28.2 26.0 26.5 32.1 33.6 32.1 23.2 42

 43 - Due from: Foreign banking offices in U.S. 79.4 100.1 110.9 116.5 135.9 133.8 124.6 118.0 113.9 118.0 43

 44 Unallocated (2) -48.2 -63.6 -61.4 -64.1 -71.1 -71.3 -57.9 -64.3 -58.1 -50.8 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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106 Historical Annuals, 1985-1994, March 12, 2015

L.204 Checkable Deposits and Currency

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 1

 2 Monetary authority 182.4 195.7 212.4 230.1 240.3 264.4 295.1 311.3 348.5 374.2 2

 3 Federal government cash and deposits 9.9 8.0 5.8 9.1 6.7 9.5 18.3 8.0 15.2 7.5 3

 4 Due to government-sponsored enterprises 0.0 0.9 1.0 0.5 1.2 0.2 1.6 0.2 0.3 0.8 4

 5 Deposits due to foreign 0.5 0.4 0.3 0.4 0.6 0.4 1.0 0.2 0.4 0.3 5

 6 Currency outside banks 171.9 186.3 205.3 220.1 231.8 254.4 274.2 302.8 332.6 365.7 6

 7 U.S.-chartered depository institutions 506.2 616.5 602.7 625.3 620.6 637.8 692.7 784.2 862.3 822.2 7

 8 Federal government deposits 25.8 27.5 21.6 29.0 25.6 30.9 36.4 30.6 42.6 23.8 8

 9 Deposits due to foreign 16.0 18.7 17.2 16.6 16.7 16.3 14.1 15.8 15.6 17.1 9

 10 Private domestic deposits 464.4 570.4 563.8 579.7 578.3 590.6 642.2 737.8 804.1 781.3 10

 11 Foreign banking offices in U.S. 7.3 8.3 7.6 8.7 8.4 8.7 8.9 8.3 8.3 8.8 11

 12 Deposits due to foreign 4.7 4.8 4.9 4.9 4.8 5.1 5.3 5.8 5.7 6.1 12

 13 Private domestic deposits 2.7 3.5 2.7 3.7 3.6 3.6 3.6 2.5 2.7 2.7 13

 14 Banks in U.S.-affiliated areas 4.9 5.4 5.4 5.6 6.1 5.4 5.2 5.8 6.1 6.2 14

 15 Credit unions 12.6 13.0 14.7 15.5 16.8 18.3 20.5 25.1 26.8 28.8 15

 16 Total assets 713.5 838.9 842.9 885.1 892.2 934.7 1022.5 1134.7 1252.0 1240.2 16

 17 Household sector 344.8 461.9 460.9 460.5 462.2 450.8 505.0 616.4 667.5 636.4 17

 18 Nonfinancial business 198.3 202.4 212.9 231.4 241.7 250.1 259.1 260.3 284.2 308.3 18

 19 Corporate 126.5 128.1 137.7 151.6 160.7 166.9 173.8 169.6 190.2 202.1 19

 20 Noncorporate 71.8 74.3 75.2 79.8 81.0 83.2 85.3 90.7 93.9 106.3 20

 21 Federal government 34.0 32.8 21.4 32.1 25.6 25.4 50.9 31.7 52.2 27.8 21

 22 State and local governments 14.8 17.3 16.5 24.9 25.2 24.0 30.4 31.6 33.5 35.3 22

 23 Domestic financial sectors 28.1 33.8 34.4 40.4 39.2 53.2 41.0 41.4 47.5 47.8 23

 24 Property-casualty insurance companies 4.3 5.6 5.5 5.4 6.0 6.5 5.3 5.6 5.2 5.0 24

 25 Life insurance companies 5.1 5.8 4.9 4.6 5.0 4.9 5.5 4.8 5.2 5.6 25

 26 Private pension funds 3.3 1.9 1.7 4.5 4.1 3.3 3.0 2.9 3.1 4.0 26

 27 State and local govt. retirement funds 2.4 3.1 4.9 4.4 3.2 5.0 3.8 6.5 6.7 6.8 27

 28 Money market mutual funds 0.2 -0.0 -0.3 0.7 0.1 11.2 -0.2 -2.7 -1.2 -2.5 28

 29 Government-sponsored enterprises 2.1 3.7 3.6 3.6 2.3 2.1 1.2 1.2 2.1 1.3 29

 30 Finance companies 4.4 5.4 6.7 7.9 8.7 9.9 12.2 12.6 14.1 15.5 30

 31 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Brokers and dealers 6.3 8.5 7.4 9.4 9.8 10.2 10.2 10.4 12.3 12.0 32

 33 Rest of the world 54.4 59.6 62.0 65.6 69.5 85.8 97.2 109.8 126.2 148.6 33

 34 Checkable deposits 21.2 23.9 22.5 21.9 22.1 21.8 20.4 21.9 21.6 23.5 34

 35 Currency 33.3 35.7 39.5 43.7 47.4 64.0 76.8 87.9 104.5 125.1 35

 36 Mail float 39.0 31.0 34.8 30.2 28.8 45.6 38.9 43.5 41.0 36.0 36
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Historical Annuals, 1985-1994, March 12, 2015 107

L.205 Time and Savings Deposits 

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 2444.0 2591.2 2735.3 2935.9 3064.6 3067.3 2999.7 2871.6 2786.0 2790.7 1

 2 Small time and savings deposits 1851.7 1977.5 2047.4 2186.3 2284.3 2348.2 2349.9 2292.7 2222.4 2185.0 2

 3 U.S.-chartered depository institutions 1729.3 1826.3 1884.3 2011.1 2100.6 2149.1 2134.3 2061.0 1982.0 1939.4 3

 4 Foreign banking offices in U.S. 4.9 7.1 7.8 8.3 12.0 11.0 11.0 11.2 10.4 9.3 4

 5 Banks in U.S.-affiliated areas 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 5

 6 Credit unions 111.7 137.8 149.2 160.5 164.7 179.1 196.5 212.0 221.8 227.3 6

 7 Large time deposits (1) 592.3 613.7 687.9 749.6 780.3 719.0 649.8 578.9 563.6 605.7 7

 8 U.S.-chartered depository institutions 472.3 467.0 513.8 558.9 567.3 503.8 393.7 306.0 283.1 304.1 8

 9 Foreign banking offices in U.S. 113.1 138.7 165.8 181.8 200.5 202.8 243.8 258.6 265.3 285.2 9

 10 Banks in U.S.-affiliated areas 5.8 6.3 6.2 6.4 7.0 9.1 8.1 8.5 8.2 9.0 10

 11 Credit unions 1.2 1.8 2.1 2.5 5.5 3.4 4.2 5.8 6.9 7.3 11

 12 Total assets 2444.0 2591.2 2735.3 2935.9 3064.6 3067.3 2999.7 2871.6 2786.0 2790.7 12

 13 Household sector 2094.7 2213.2 2352.4 2538.4 2624.0 2673.9 2591.8 2364.7 2242.0 2217.5 13

 14 Nonfinancial business 109.9 127.8 126.3 129.2 129.0 125.6 130.8 136.2 155.6 163.5 14

 15 Corporate 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 15

 16 Noncorporate 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 16

 17 Federal government 1.2 1.4 1.7 1.4 1.3 1.4 1.6 0.9 0.8 0.7 17

 18 State and local governments 65.9 68.2 75.3 73.3 70.5 67.5 56.4 50.2 48.7 55.1 18

 19 Domestic financial sectors 128.9 139.7 137.4 150.3 190.3 149.9 170.3 150.2 146.3 149.6 19

 20 Private pension funds 76.6 87.0 76.2 87.0 114.5 110.3 115.8 98.7 95.3 101.9 20

 21 State and local govt. retirement funds 13.3 9.9 5.3 7.2 9.2 7.8 8.9 7.0 6.3 2.7 21

 22 Money market mutual funds 17.3 20.1 34.5 33.8 43.0 21.9 35.1 34.6 31.9 31.4 22

 23 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Finance companies 1.5 2.3 2.9 3.4 4.7 5.3 8.1 8.4 11.5 12.7 24

 25 Holding companies 20.2 20.4 18.5 18.8 18.9 4.6 2.4 1.4 1.3 0.9 25

 26 Rest of the world 43.3 40.8 42.3 43.4 49.5 49.0 48.9 169.5 192.6 204.2 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Total assets 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 1

 2 Household sector 196.3 235.1 256.0 273.0 351.1 389.4 407.7 365.5 363.5 373.1 2

 3 Nonfinancial corporate business 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 3

 4 Nonfinancial noncorporate business 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 5

 6 Property-casualty insurance companies 8.3 8.3 8.6 9.8 9.7 10.8 9.4 11.4 11.1 10.3 6

 7 Life insurance companies 9.1 10.0 6.9 7.0 6.2 8.4 8.5 8.7 8.8 8.9 7

 8 Private pension funds 9.1 11.0 12.8 14.8 17.8 17.8 18.8 19.8 26.3 31.6 8

 9 State and local govt. retirement funds 1.4 1.7 2.0 2.3 2.8 2.8 3.0 3.1 4.1 5.0 9

 10 Funding corporations 3.7 6.3 8.5 12.5 20.6 36.6 54.1 80.9 95.8 108.9 10

 11 Rest of the world 0.0 0.0 0.0 0.0 0.4 1.2 2.0 2.7 3.5 4.3 11
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108 Historical Annuals, 1985-1994, March 12, 2015

L.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 468.5 571.4 630.6 687.1 780.5 750.1 770.5 909.3 1037.4 1077.0 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 U.S.-chartered depository institutions 268.0 310.1 327.9 343.9 338.4 293.4 256.4 277.3 305.7 360.9 3

 4 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 4

 5 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 5

 6 Foreign banking offices in U.S. 32.3 36.9 33.6 42.4 45.5 60.0 72.1 61.5 51.2 54.3 6

 7 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 7

 8 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 8

 9 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 5.0 9.7 13

 14 Brokers and dealers 168.2 224.4 269.1 300.8 396.6 396.7 441.9 567.4 675.4 652.0 14

 15 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 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 16

 17 Total assets 484.9 577.7 652.6 715.2 806.7 818.6 872.4 1016.9 1123.2 1132.6 17

 18 Nonfinancial corporate business 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 18

 19 State and local governments 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 19

 20 Monetary authority 5.2 16.0 5.0 6.9 2.1 18.4 15.9 8.1 13.2 10.6 20

 21 U.S.-chartered depository institutions 156.2 160.3 150.0 148.3 171.5 169.6 165.5 176.1 164.5 157.2 21

 22 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 22

 23 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 23

 24 Foreign banking offices in U.S. 8.8 14.0 15.0 18.0 16.1 15.4 23.7 33.8 46.3 54.7 24

 25 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 25

 26 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 26

 27 Credit unions 8.4 10.9 9.2 9.4 12.5 14.6 13.2 13.5 8.5 6.2 27

 28 Federal funds ND ND ND ND ND ND ND ND ND ND 28

 29 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 29

 30 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Private pension funds 19.2 20.9 20.4 22.6 24.8 23.5 27.2 27.4 28.3 22.2 32

 33 State and local govt. retirement funds 5.0 8.3 11.3 10.3 9.7 12.2 18.9 24.7 20.4 27.8 33

 34 Money market mutual funds 25.9 31.9 38.9 41.2 54.3 58.2 67.0 65.9 66.4 68.8 34

 35 Mutual funds 1.3 2.8 3.6 4.9 4.8 6.1 12.2 21.9 38.7 43.1 35

 36 Government-sponsored enterprises 26.9 29.4 27.2 33.8 61.8 68.7 67.6 66.6 50.3 85.8 36

 37 Of which: FHLB federal funds (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Brokers and dealers 143.2 188.4 264.6 312.1 317.3 297.8 319.0 407.7 490.9 487.7 38

 39 Holding companies 0.0 0.0 0.0 0.0 0.0 0.4 1.4 1.3 0.8 1.0 39

 40 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world 7.5 10.9 13.1 13.0 23.1 19.7 20.9 41.7 58.6 46.6 41

 42 Discrepancy -16.5 -6.3 -22.0 -28.1 -26.2 -68.5 -102.0 -107.6 -85.8 -55.6 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations: (4)

 43 Liability: Monetary authority (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Asset: Money market mutual funds (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Other financial institutions (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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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Historical Annuals, 1985-1994, March 12, 2015 109

L.208 Open Market Paper

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total outstanding, all types 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 1

 2 Commercial paper 293.9 326.1 373.6 451.8 521.9 557.8 528.1 545.1 553.8 600.1 2

 3 Nonfinancial corporate business 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 3

 4 Foreign issues in U.S. 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 4

 5 Nonfinancial 8.0 10.1 12.5 12.0 16.3 20.6 26.1 30.6 27.5 15.2 5

 6 Financial 26.0 27.3 28.7 38.0 46.7 54.8 56.0 47.8 41.3 27.5 6

 7 Financial business 187.8 225.9 258.6 316.1 351.7 365.6 347.5 359.6 367.1 418.2 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 2.4 3.3 5.1 6.8 15.7 31.4 38.7 46.9 51.6 63.9 9

 10 Finance companies 102.7 124.3 135.0 152.1 160.7 163.8 155.2 149.2 149.1 171.6 10

 11 REITs 0.7 1.1 1.4 1.3 1.1 0.9 0.9 0.9 0.6 0.0 11

 12 Holding companies 46.4 43.1 44.6 44.4 48.8 30.1 24.3 20.4 25.6 31.6 12

 13 Funding corporations 35.6 54.1 72.5 111.6 125.4 139.4 128.4 142.2 140.3 151.1 13

 14 Bankers’ acceptances (1) 64.6 58.8 64.3 61.6 57.4 52.1 37.8 33.9 26.3 23.4 14

 15 U.S.-chartered depository institutions 40.2 31.5 30.5 27.2 22.0 17.6 12.9 12.8 10.2 10.0 15

 16 Foreign banking offices in U.S. 24.4 27.2 33.8 34.4 35.4 34.5 24.9 21.2 16.0 13.4 16

 17 Holdings, by sector 358.5 384.9 437.9 513.4 579.2 609.9 565.9 579.0 580.0 623.5 17

 18 Household sector 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 18

 19 Nonfinancial corporate business 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 19

 20 State and local governments 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 20

 21 Monetary authority 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) 12.0 12.8 13.3 13.4 12.5 9.3 8.8 6.5 5.2 3.7 22

 23 Foreign banking offices in U.S. (1) 1.2 1.0 2.2 1.7 2.1 4.1 3.1 3.3 2.4 2.2 23

 24 Credit unions 0.2 0.7 0.5 0.9 1.1 2.3 2.6 3.0 2.2 2.1 24

 25 Property-casualty insurance companies 11.8 11.9 12.3 14.0 13.9 15.5 13.5 16.3 15.9 14.7 25

 26 Life insurance companies 29.1 34.5 34.0 39.2 42.8 45.7 45.8 43.2 46.9 52.8 26

 27 Private pension funds 22.0 26.0 33.3 27.0 25.8 24.9 28.4 28.4 29.2 23.0 27

 28 State and local govt. retirement funds 5.1 8.6 11.6 10.7 10.8 13.8 20.2 25.8 21.4 28.8 28

 29 Money market mutual funds 98.4 104.4 110.1 127.5 184.5 204.0 190.6 173.6 164.4 187.2 29

 30 Mutual funds 7.9 15.8 19.5 28.6 28.0 28.5 12.2 21.9 38.7 43.1 30

 31 Government-sponsored enterprises 0.1 0.1 0.0 0.4 3.3 3.8 10.9 13.5 11.9 26.3 31

 32 Brokers and dealers 14.5 12.6 14.2 14.8 17.8 18.4 14.0 15.2 14.9 11.2 32

 33 Funding corporations 81.1 82.0 107.4 115.5 120.3 117.5 122.6 131.8 105.9 92.6 33

 34 Rest of the world 8.2 8.0 9.0 11.8 12.7 10.7 11.3 12.9 18.8 24.9 34

(1) Excludes banks’ holdings of own acceptances.
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110 Historical Annuals, 1985-1994, March 12, 2015

L.209 Treasury Securities

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 1

 2 U.S. savings securities (1) 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 2

 3 Treasury bills 399.9 426.7 389.5 414.0 430.6 527.4 590.4 657.7 714.6 733.8 3

 4 Other Treasury securities 1106.9 1282.2 1454.0 1558.8 1678.7 1812.1 2029.3 2246.6 2423.3 2551.9 4

 5 Total assets 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 5

 6 Household sector 282.2 270.9 308.2 393.5 394.9 503.8 535.3 627.1 672.9 870.9 6

 7 U.S. savings securities (1) 79.8 93.3 101.1 109.6 117.7 126.2 138.1 157.3 171.9 179.9 7

 8 Bills and other Treasury securities 202.5 177.6 207.1 283.9 277.2 377.6 397.2 469.9 501.0 691.0 8

 9 Nonfinancial corporate business 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 9

 10 Nonfinancial noncorporate business 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 10

 11 State and local governments 258.7 315.7 357.6 364.3 369.1 410.6 435.5 418.2 447.8 370.0 11

 12 Monetary authority 177.8 197.6 218.9 233.7 226.8 235.1 266.5 295.0 332.0 364.5 12

 13 Treasury bills 85.4 103.8 107.7 112.8 104.6 112.5 132.6 141.8 160.4 177.4 13

 14 Other Treasury securities 92.4 93.9 111.2 120.9 122.2 122.6 133.9 153.2 171.6 187.1 14

 15 U.S.-chartered depository institutions 217.1 226.5 233.0 210.9 182.5 183.3 232.7 288.3 303.2 275.1 15

 16 Foreign banking offices in U.S. 4.8 6.9 6.5 6.6 6.4 11.4 20.8 29.6 36.1 32.7 16

 17 Banks in U.S.-affiliated areas 1.2 1.7 1.7 1.9 2.2 2.5 2.8 4.3 5.8 5.1 17

 18 Credit unions 6.2 8.0 11.2 14.4 12.1 8.5 14.1 19.9 22.6 22.1 18

 19 Property-casualty insurance companies 32.3 46.1 54.7 64.2 75.2 83.6 108.1 113.6 129.3 137.4 19

 20 Treasury bills 3.5 3.6 3.7 4.2 4.2 4.6 4.0 4.9 4.8 4.4 20

 21 Other Treasury securities 28.8 42.6 51.0 60.0 71.0 79.0 104.0 108.7 124.5 133.0 21

 22 Life insurance companies 51.7 59.0 57.1 58.6 52.9 59.2 77.8 88.8 110.0 107.1 22

 23 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other Treasury securities 51.7 59.0 57.1 58.6 52.9 59.2 77.8 88.8 110.0 107.1 24

 25 Private pension funds 128.6 112.8 113.0 112.7 122.4 122.3 117.0 108.5 104.2 120.9 25

 26 Federal government retirement funds 0.0 0.0 1.1 2.7 4.9 7.5 10.0 12.9 15.8 19.1 26

 27 State and local govt. retirement funds 85.4 115.3 138.9 150.7 152.4 168.3 165.6 203.7 217.6 215.8 27

 28 Money market mutual funds 24.4 27.8 14.1 11.4 14.6 44.9 78.3 78.4 79.4 66.1 28

 29 Treasury bills 20.4 20.4 4.9 5.1 7.4 25.5 47.6 47.3 53.2 44.5 29

 30 Other Treasury securities 4.0 7.4 9.2 6.3 7.3 19.4 30.6 31.2 26.3 21.6 30

 31 Mutual funds 38.8 71.2 84.1 80.3 81.4 87.1 103.9 110.4 134.0 130.5 31

 32 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Other Treasury securities 38.8 71.2 84.1 80.3 81.4 87.1 103.9 110.4 134.0 130.5 33

 34 Closed-end funds 0.6 1.0 1.6 4.8 6.6 6.8 10.0 11.6 13.7 12.8 34

 35 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Government-sponsored enterprises 6.8 16.3 21.0 26.3 13.0 34.3 40.8 58.7 51.6 51.9 36

 37 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Brokers and dealers -4.0 4.1 -16.7 -47.4 21.5 7.3 5.7 -7.7 -28.3 -42.7 38

 39 Holding companies 0.8 0.6 0.7 0.8 0.9 0.7 1.0 6.1 5.3 4.6 39

 40 Rest of the world 226.4 269.4 296.3 353.8 423.7 438.4 476.3 520.3 594.6 632.6 40

 41 Treasury bills 69.1 90.4 101.7 115.1 91.1 96.8 110.7 127.6 176.7 162.9 41

 42 Other Treasury securities 157.3 179.0 194.6 238.8 332.6 341.6 365.6 392.7 417.8 469.6 42

 Memo:

 43 Federal government debt (2) 1589.9 1805.9 1949.8 2104.9 2251.2 2498.1 2776.4 3080.3 3336.5 3492.3 43

(1) Includes U.S. savings bonds, U.S. individual retirement bonds, U.S. retirement plan bonds, U.S. savings stamps, and matured U.S. savings securities.

(2) Total Treasury securities (line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 11).
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Historical Annuals, 1985-1994, March 12, 2015 111

L.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 1

 2 Budget agencies 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 2

 3 Government-sponsored enterprises 257.8 273.0 303.2 348.1 373.3 393.7 402.9 443.6 524.2 701.0 3

 4 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 4

 5 Total assets 628.9 808.2 977.8 1116.0 1267.1 1445.9 1577.9 1734.4 1907.5 2200.2 5

 6 Household sector 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.4 6

 7 Nonfinancial corporate business 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 9

 10 Monetary authority 8.2 7.8 7.6 7.6 6.5 6.3 6.0 5.4 4.6 3.6 10

 11 U.S.-chartered depository institutions 221.0 303.8 375.3 425.1 431.0 460.6 466.2 503.2 543.6 558.0 11

 12 Foreign banking offices in U.S. 1.1 2.6 3.8 4.9 5.2 7.2 11.2 14.1 21.5 23.0 12

 13 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.4 0.8 0.9 1.0 2.1 2.3 2.8 13

 14 Credit unions 7.0 8.8 8.8 7.1 6.3 14.4 19.6 28.7 36.3 40.9 14

 15 Property-casualty insurance companies 22.2 22.3 22.3 22.6 26.0 32.0 42.1 42.6 44.5 45.8 15

 16 Life insurance companies 49.4 60.0 67.0 75.7 100.8 121.0 164.2 193.0 222.8 234.1 16

 17 Private pension funds 67.1 59.1 72.3 86.6 110.4 132.8 145.8 156.4 170.4 211.1 17

 18 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.5 18

 19 State and local govt. retirement funds 38.1 38.2 43.0 35.4 51.2 63.1 58.2 39.8 36.0 40.3 19

 20 Money market mutual funds 18.0 15.0 26.7 18.2 20.8 36.4 40.6 54.3 67.8 77.2 20

 21 Mutual funds 26.1 63.4 66.2 62.8 64.5 72.6 96.7 147.0 172.6 165.8 21

 22 Government-sponsored enterprises 0.8 0.2 0.1 0.3 6.3 11.9 34.8 47.5 66.0 130.8 22

 23 ABS issuers 10.2 53.5 81.8 107.1 99.1 103.3 76.6 60.0 83.6 106.7 23

 24 REITs 2.8 7.7 14.2 16.7 17.6 16.5 16.6 15.9 15.6 9.2 24

 25 Brokers and dealers 4.9 9.8 14.6 19.5 24.4 44.0 54.0 53.0 60.8 45.0 25

 26 Holding companies 2.1 1.7 2.1 2.1 2.4 1.9 2.4 2.2 3.1 4.8 26

 27 Rest of the world 17.5 25.0 28.3 34.2 47.2 49.4 58.5 71.4 103.2 106.8 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown in table L.209, line 43.
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112 Historical Annuals, 1985-1994, March 12, 2015

L.211 Municipal Securities and Loans

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 1

 2 State and local governments 651.1 724.9 817.7 884.0 931.6 977.8 1068.6 1085.2 1143.9 1097.9 2

 3 Short-term (1) 20.5 20.4 19.6 21.5 24.8 27.8 34.7 33.6 35.4 33.2 3

 4 Long-term 630.6 704.5 798.1 862.5 906.8 950.0 1033.9 1051.6 1108.5 1064.7 4

 5 Nonprofit organizations (2) 81.3 78.4 78.1 79.6 82.7 85.7 89.5 91.9 93.0 96.1 5

 6 Nonfinancial corporate business 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 6

 (industrial revenue bonds)

 7 Total assets 859.5 920.4 1012.0 1080.0 1129.8 1178.6 1272.1 1295.4 1361.7 1325.8 7

 8 Household sector 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 640.8 594.1 8

 9 Nonfinancial corporate business 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 9

 10 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 10

 11 State and local governments 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 11

 12 U.S.-chartered depository institutions 234.5 205.8 176.7 153.8 135.8 119.8 105.1 99.1 101.0 99.0 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Banks in U.S.-affiliated areas 0.6 0.6 0.6 0.7 0.6 0.6 0.5 0.5 0.2 0.6 14

 15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Property-casualty insurance companies 88.2 101.9 124.8 134.1 134.8 136.9 126.8 134.3 146.1 153.8 16

 17 Life insurance companies 9.7 11.7 10.7 9.1 9.0 12.3 10.2 11.4 14.7 12.8 17

 18 State and local govt. retirement funds 1.1 0.7 0.8 0.5 0.3 0.5 0.6 0.4 1.4 1.1 18

 19 Money market mutual funds 36.4 64.1 61.8 66.1 70.1 84.0 90.6 96.0 105.6 113.4 19

 20 Mutual funds 34.9 67.0 74.8 82.9 98.6 112.6 139.7 168.4 211.3 207.0 20

 21 Closed-end funds 1.0 2.0 3.3 7.5 12.1 14.1 25.4 39.7 51.8 53.4 21

 22 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Government-sponsored enterprises 1.6 2.3 2.4 2.9 2.9 3.7 3.0 3.2 3.1 5.2 23

 24 Brokers and dealers 19.9 16.6 8.3 7.5 7.1 7.9 9.4 11.3 17.1 15.5 24

 25 Rest of the world 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 2.8 3.0 25

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

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
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Historical Annuals, 1985-1994, March 12, 2015 113

L.212 Corporate and Foreign Bonds

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 871.8 1103.1 1267.4 1470.0 1621.9 1740.7 1903.1 2089.3 2503.0 2726.8 1

 2 Nonfinancial corporate business 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 2

 3 Domestic financial sectors 233.1 325.4 404.0 456.1 525.5 580.0 651.9 741.2 861.4 976.9 3

 4 U.S.-chartered depository institutions 25.1 32.3 37.3 38.9 38.3 36.9 33.8 39.0 41.1 43.7 4

 5 ABS issuers (net) (1) 34.8 71.4 113.2 147.6 194.1 237.8 284.2 338.7 416.5 474.3 5

 6 Finance companies 105.3 131.6 141.2 147.0 162.7 179.5 194.3 203.1 215.6 247.4 6

 7 REITs 3.7 8.5 15.3 17.1 18.0 18.1 17.9 18.2 16.8 15.3 7

 8 Brokers and dealers 1.3 3.4 3.2 7.5 13.8 15.3 19.0 21.7 33.7 34.3 8

 9 Holding companies 59.8 73.7 86.5 91.8 93.7 84.7 88.0 94.1 97.7 102.0 9

 10 Funding corporations 3.1 4.6 7.2 6.2 4.9 7.7 14.7 26.4 40.0 60.0 10

 11 Rest of the world (2) 60.4 72.4 79.3 126.6 135.4 152.6 164.3 193.5 303.7 321.4 11

 12 Total assets (3) 871.8 1103.1 1267.4 1470.0 1621.9 1740.7 1903.1 2089.3 2503.0 2726.8 12

 13 Household sector 80.1 114.4 129.7 157.6 196.1 245.1 257.9 275.6 422.3 545.7 13

 14 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 State and local governments 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 15

 16 U.S.-chartered depository institutions 74.1 99.7 144.6 174.0 152.8 141.1 142.5 146.6 155.8 152.8 16

 17 MBS and other ABS 0.4 3.7 19.4 24.4 28.9 30.3 58.9 51.9 54.8 54.3 17

 18 Other 73.7 96.0 125.2 149.7 124.0 110.8 83.6 94.7 101.0 98.5 18

 19 Foreign banking offices in U.S. 6.3 11.4 14.6 13.9 15.0 18.0 21.8 22.6 24.2 29.0 19

 20 Banks in U.S.-affiliated areas 0.7 0.9 0.9 0.0 0.1 0.0 0.1 0.4 0.6 0.5 20

 21 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

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

 24 Property-casualty insurance companies 33.9 48.0 55.5 65.7 79.3 89.2 97.2 97.8 103.1 110.1 24

 25 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other 33.9 48.0 55.5 65.7 79.3 89.2 97.2 97.8 103.1 110.1 26

 27 Life insurance companies 280.6 321.4 388.3 457.5 511.0 566.9 595.1 653.9 719.5 779.4 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other 280.6 321.4 388.3 457.5 511.0 566.9 595.1 653.9 719.5 779.4 29

 30 Private pension funds 97.2 123.9 120.1 125.6 137.7 157.5 178.6 206.3 233.3 226.5 30

 31 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.4 0.4 31

 32 State and local govt. retirement funds 107.4 119.1 119.6 138.2 152.6 142.2 144.8 157.1 179.5 179.7 32

 33 Money market mutual funds 1.0 1.8 2.2 2.3 3.7 2.0 3.8 6.3 11.7 15.2 33

 34 Mutual funds 22.2 42.4 46.6 49.8 54.6 59.3 87.7 118.7 169.3 172.4 34

 35 Closed-end funds 2.5 3.9 6.1 16.5 16.7 15.7 14.1 18.3 24.2 19.8 35

 36 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 20.0 37

 38 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11.1 20.0 38

 39 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Finance companies 17.3 22.4 28.1 32.9 39.0 44.4 59.3 61.2 74.8 82.4 40

 41 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.2 2.1 41

 42 Brokers and dealers 22.9 23.2 19.4 29.1 32.9 28.9 40.9 50.9 73.0 64.4 42

 43 Holding companies 6.8 5.5 6.5 6.7 7.5 5.6 5.1 5.4 7.2 7.1 43

 44 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.0 14.0 44

 45 Rest of the world (4) 110.7 154.9 173.2 187.0 207.8 208.7 236.0 246.0 261.4 273.5 45

 46 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Other 110.7 154.9 173.2 187.0 207.8 208.7 236.0 246.0 261.4 273.5 47

(1) Liabilities net of assets.

(2) Holdings of foreign issues by U.S. residents.

(3) For some sectors, holdings of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately issued asset-backed bonds.

(4) Holdings of U.S. issues by foreign residents.
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114 Historical Annuals, 1985-1994, March 12, 2015

L.213 Corporate Equities (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Issues at market value 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 1

 2 Nonfinancial corporate business 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 2

 3 Financial corporations 309.1 369.0 328.9 388.9 477.0 377.9 570.3 746.5 910.7 893.9 3

 4 Rest of the world (2) 44.4 72.4 94.7 128.7 197.3 197.6 279.0 314.3 543.9 626.8 4

 5 Holdings at market value 2270.4 2682.2 2710.3 3075.6 3813.0 3531.3 4847.8 5422.0 6296.9 6317.5 5

 6 Household sector 1229.5 1494.0 1462.6 1756.7 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 6

 7 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 State and local governments 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 8

 9 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 U.S.-chartered depository institutions 5.2 7.0 7.0 8.5 15.7 10.9 14.1 14.7 16.8 13.3 10

 11 Foreign banking offices in U.S. 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Property-casualty insurance companies 57.0 61.2 65.1 71.4 84.0 79.9 94.1 97.3 103.4 111.7 12

 13 Life insurance companies 74.0 76.4 80.5 81.4 91.8 81.9 135.8 151.6 205.8 231.4 13

 14 Private pension funds 504.7 510.6 519.3 500.0 616.5 588.4 783.2 848.8 985.4 984.1 14

 15 Federal government retirement funds 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 15

 16 State and local govt. retirement funds 131.1 163.1 183.5 227.9 296.8 302.1 418.0 456.6 535.2 551.2 16

 17 Mutual funds 113.7 161.2 181.7 187.6 250.5 233.2 308.9 401.3 607.4 709.6 17

 18 Closed-end funds 4.2 7.5 10.4 14.3 17.1 16.2 21.8 23.8 26.5 31.9 18

 19 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 19

 20 Brokers and dealers 14.1 17.7 10.7 12.2 14.1 9.6 14.3 14.8 24.2 20.1 20

 21 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Rest of the world (3) 136.8 183.2 189.0 213.8 275.7 242.6 291.2 308.8 341.0 352.8 22

 Memo:

 23 Percent change in Dow Jones U.S. Total Market Index (4) 27.2 12.5 -0.7 13.3 24.9 -9.3 30.3 6.2 8.6 -2.5 23

(1) Excludes mutual fund shares shown on table L.214.

(2) Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Holdings of U.S. issues by foreign residents.

(4) Annual figures calculated from year-end to year-end.

L.214 Mutual Fund Shares (1)

Billions of dollars

 1 Shares at market value 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 1

 2 Holdings at market value 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 2

 3 Household sector 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 3

 4 Nonfinancial corporate business 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 4

 5 State and local governments 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 2.2 1.9 3.7 3.4 3.9 2.0 6

 7 Credit unions 0.0 0.0 1.8 1.4 1.2 1.4 2.6 4.1 4.2 2.6 7

 8 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 8

 9 Life insurance companies 3.5 14.5 12.1 18.5 19.1 30.7 8.6 18.2 21.3 24.4 9

 10 Private pension funds 11.1 12.1 19.9 23.4 33.0 40.5 66.4 96.2 142.2 205.9 10

 11 State and local govt. retirement funds 6.8 5.5 9.1 7.4 7.8 7.8 13.1 17.9 25.6 44.8 11

 12 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 5.8 17.4 29.0 40.6 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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Historical Annuals, 1985-1994, March 12, 2015 115

L.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 786.1 864.1 872.0 911.8 949.1 928.5 880.7 855.1 846.4 896.1 1

 2 Household sector 19.0 17.5 17.9 18.3 8.7 9.6 7.7 14.7 23.6 32.3 2

 3 Corporate business 453.9 519.6 524.0 565.4 604.5 594.1 542.3 514.0 506.7 554.2 3

 4 Noncorporate business 131.4 132.0 140.7 150.0 162.7 166.7 166.7 169.5 173.9 189.2 4

 5 Domestic financial sectors 46.2 59.9 52.8 55.1 68.4 69.0 73.4 71.8 58.8 47.5 5

 6 Finance companies 33.1 45.7 37.4 38.4 51.6 54.8 62.3 64.3 50.6 33.5 6

 7 REITs 0.7 1.0 1.5 3.1 4.1 4.4 5.0 3.7 3.6 6.0 7

 8 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Holding companies 12.5 13.2 13.9 13.6 12.7 9.8 6.2 3.8 4.6 7.9 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world 135.6 135.0 136.6 123.0 104.8 89.1 90.5 85.1 83.5 73.0 11

 12 Foreign official institutions 27.0 25.9 26.3 25.7 23.4 17.1 13.4 8.9 12.2 4.9 12

 13 Foreign banks 11.4 12.9 9.0 9.0 10.1 6.9 7.9 8.3 9.6 9.2 13

 14 Other foreign 97.2 96.2 101.3 88.3 71.3 65.2 69.1 67.9 61.7 58.9 14

 15 Total assets 786.1 864.1 872.0 911.8 949.1 928.5 880.7 855.1 846.4 896.1 15

 16 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 U.S.-chartered depository institutions 626.8 676.3 660.7 686.5 704.2 681.0 608.8 581.7 589.0 630.8 17

 18 Foreign banking offices in U.S. 150.2 178.5 202.1 215.7 217.3 217.5 246.0 249.3 233.5 238.9 18

 19 Banks in U.S.-affiliated areas 9.1 9.3 9.1 9.6 9.7 13.0 10.0 10.2 9.7 11.3 19

 20 Credit unions 0.0 0.0 0.0 0.0 17.9 17.0 15.9 14.0 14.2 15.1 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table L.108.
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116 Historical Annuals, 1985-1994, March 12, 2015

L.216 Other Loans and Advances

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total other loans and advances 635.8 691.9 747.3 790.2 823.5 862.3 764.1 776.0 764.9 833.9 1

 2 U.S. government loans 196.8 202.3 192.1 168.3 161.1 159.3 151.7 151.7 141.3 143.3 2

 3 Liab.: Household sector 16.5 19.4 18.7 20.1 15.6 18.6 20.8 21.6 17.2 20.4 3

 4 Nonfinancial corporate business 15.6 16.1 12.8 10.9 10.6 9.8 8.7 8.7 7.1 10.9 4

 5 Nonfinancial noncorporate business 57.8 58.3 57.4 54.1 54.2 53.0 49.4 48.8 46.1 46.5 5

 6 State and local governments 26.8 27.3 24.9 9.0 8.8 9.6 10.0 9.9 9.2 9.6 6

 7 Government-sponsored enterprises 6.1 5.7 5.0 5.0 5.0 4.9 4.8 4.8 4.8 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 8

 9 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 87.9 90.9 89.9 87.2 86.1 83.7 79.8 81.4 81.4 81.9 10

 11 Foreign loans to U.S. corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 11

 12 Liab.: Nonfinancial corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 37.9 30.6 29.6 26.5 21.3 17.2 12.6 12.6 10.1 9.9 13

 14 Foreign banking offices in U.S. 22.1 23.8 30.2 31.0 34.0 28.3 22.7 19.1 15.1 13.0 14

 15 Liab.: Nonfinancial corporate business 28.3 28.1 32.6 32.6 35.8 29.2 23.3 20.4 17.1 15.0 15

 16 Rest of the world 31.6 26.3 27.3 24.9 19.6 16.3 12.0 11.3 8.2 7.9 16

 17 Holding company loans 2.1 3.6 4.1 3.9 5.5 5.3 3.4 3.7 1.9 1.8 17

 18 Liab.: Nonfinancial corporate business 2.1 3.6 4.1 3.9 5.5 5.3 3.4 3.7 1.9 1.8 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Policy loans (Household liability) 55.5 55.4 55.3 55.3 58.4 62.5 67.3 73.0 78.6 86.4 20

 21 Asset: Federal government 1.1 1.3 1.7 1.0 1.0 1.0 1.0 0.9 0.9 0.9 21

 22 Life insurance companies 54.4 54.1 53.6 54.2 57.4 61.6 66.4 72.1 77.7 85.5 22

 23 Government-sponsored enterprise loans (1) 115.2 132.8 157.8 176.6 168.0 144.8 110.7 111.3 135.2 158.8 23

 24 Liab.: Household sector (SLMA) 0.2 0.3 0.3 0.3 0.3 0.5 0.9 0.7 0.8 0.9 24

 25 Nonfinancial corporate business (FCS) 1.0 0.9 0.8 0.6 0.7 0.8 0.9 0.9 1.0 1.1 25

 26 Nonfinancial noncorporate business (FCS) 21.0 18.1 17.4 16.9 18.6 19.1 21.8 23.1 24.5 25.2 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 92.9 113.5 139.3 158.8 148.3 124.4 87.1 86.5 108.4 130.5 27

 28 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.5 28

 29 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.6 29

 30 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 30

 31 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 2.0 4.3 6.8 9.7 19.5 23.7 31

 32 Finance company loans to business 150.2 165.8 200.1 228.7 250.8 268.1 263.8 264.9 249.0 274.9 32

 33 Liab.: Nonfinancial corporate business 135.2 149.2 180.0 205.8 225.7 241.3 237.4 238.4 224.1 247.4 33

 34 Nonfinancial noncorporate business 15.0 16.6 20.0 22.9 25.1 26.8 26.4 26.5 24.9 27.5 34

 35 Loans to nonfinancial corporate business (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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Historical Annuals, 1985-1994, March 12, 2015 117

L.217 Total Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total mortgages 2368.5 2655.6 2956.7 3274.1 3526.6 3781.6 3932.7 4043.6 4174.9 4339.1 1

 2 Home 1526.9 1730.1 1928.5 2162.8 2369.6 2606.8 2774.7 2942.1 3101.0 3278.2 2

 3 Multifamily residential 205.9 239.4 258.4 274.5 287.0 287.4 284.1 270.9 267.7 268.2 3

 4 Commercial 541.7 602.0 694.1 765.9 801.3 819.8 806.4 762.7 737.8 722.7 4

 5 Farm 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 5

 6 Total liabilities 2368.5 2655.6 2956.7 3274.1 3526.6 3781.6 3932.7 4043.6 4174.9 4339.1 6

 7 Household sector 1488.8 1692.3 1878.2 2117.6 2330.1 2566.5 2753.1 2932.7 3102.1 3267.7 7

 8 Nonfinancial business 877.1 960.5 1075.4 1153.1 1192.8 1210.8 1174.7 1105.6 1063.9 1052.6 8

 9 Corporate 169.3 185.3 252.7 255.0 263.2 285.9 277.1 237.9 218.3 211.6 9

 10 Noncorporate 707.8 775.2 822.7 898.1 929.6 924.9 897.6 867.6 845.5 840.9 10

 11 Federal government 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 12

 13 Total assets 2368.5 2655.6 2956.7 3274.1 3526.6 3781.6 3932.7 4043.6 4174.9 4339.1 13

 14 Household sector 116.2 112.6 120.2 122.5 131.4 141.4 143.1 137.1 129.7 120.8 14

 15 Nonfinancial corporate business 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 15

 16 Nonfinancial noncorporate business 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 16

 17 Federal government 53.3 54.4 49.1 48.0 47.3 82.9 98.3 86.4 85.0 71.0 17

 18 State and local governments 74.2 86.0 94.7 98.6 105.0 110.2 113.7 113.7 108.3 110.5 18

 19 U.S.-chartered depository institutions 1189.1 1278.7 1402.9 1540.0 1609.4 1600.9 1527.2 1470.9 1494.0 1559.9 19

 20 Foreign banking offices in U.S. 5.7 8.7 13.9 22.1 30.2 45.5 54.3 51.6 45.1 40.3 20

 21 Banks in U.S.-affiliated areas 2.0 2.2 2.3 2.9 3.6 4.5 5.2 6.0 7.2 8.8 21

 22 Credit unions 11.1 19.3 29.9 38.1 27.0 32.7 36.9 39.8 41.8 47.0 22

 23 Property-casualty insurance companies 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 23

 24 Life insurance companies 171.8 193.8 212.4 232.9 254.2 267.9 259.5 242.0 223.9 215.8 24

 25 Private pension funds 14.0 11.3 8.2 16.7 23.3 24.9 18.2 14.5 13.0 7.8 25

 26 State and local govt. retirement funds 15.3 15.6 15.3 15.6 15.3 16.1 16.9 16.5 14.5 15.2 26

 27 Government-sponsored enterprises (1) 159.7 147.8 139.5 144.5 150.5 156.1 167.7 199.7 241.0 244.6 27

 28 Agency- and GSE-backed mortgage pools 367.9 531.6 669.4 745.3 869.5 1019.9 1156.5 1272.0 1356.8 1472.4 28

 29 ABS issuers 24.6 17.9 31.5 40.5 52.6 66.0 113.1 167.9 204.3 224.5 29

 30 Finance companies 53.3 70.8 66.1 76.4 102.9 114.1 123.6 126.3 123.1 103.3 30

 31 REITs 5.9 5.9 7.0 8.7 8.4 7.7 7.0 8.1 8.6 13.3 31
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118 Historical Annuals, 1985-1994, March 12, 2015

L.218 Home Mortgages (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1526.9 1730.1 1928.5 2162.8 2369.6 2606.8 2774.7 2942.1 3101.0 3278.2 1

 2 Household sector 1450.2 1649.0 1828.6 2054.8 2260.1 2489.3 2667.4 2840.4 2999.0 3165.5 2

 3 Nonfinancial corporate business 7.3 7.3 8.5 9.6 9.4 10.6 8.0 6.4 6.0 7.3 3

 4 Nonfinancial noncorporate business 69.3 73.8 91.4 98.4 100.0 107.0 99.3 95.3 95.9 105.4 4

 5 Total assets 1526.9 1730.1 1928.5 2162.8 2369.6 2606.8 2774.7 2942.1 3101.0 3278.2 5

 6 Household sector 91.6 91.9 103.3 108.4 117.4 128.6 130.1 122.7 113.7 104.7 6

 7 Nonfinancial corporate business 9.5 13.0 19.8 18.8 27.8 33.4 36.4 36.1 30.9 32.7 7

 8 Nonfinancial noncorporate business 13.9 14.1 11.8 17.6 12.1 9.5 8.9 9.4 8.2 8.9 8

 9 Federal government 24.4 24.1 20.8 21.0 21.3 37.9 37.1 36.6 33.0 29.1 9

 10 State and local governments 45.0 49.0 50.1 52.6 57.3 60.9 62.9 62.3 56.3 57.3 10

 11 U.S.-chartered depository institutions 773.5 801.3 843.4 966.0 1005.7 1031.4 992.0 968.8 1001.6 1066.7 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Banks in U.S.-affiliated areas 1.3 1.3 1.5 1.7 1.9 2.0 2.0 3.0 4.1 4.8 13

 14 Credit unions 11.1 19.3 29.9 38.1 27.0 32.7 36.9 39.8 41.8 47.0 14

 15 Life insurance companies 13.6 14.1 14.5 12.5 13.6 15.0 12.1 12.5 9.9 10.0 15

 16 Private pension funds 4.5 4.0 1.4 2.8 5.5 5.5 4.0 3.2 3.2 3.7 16

 17 State and local govt. retirement funds 3.7 3.2 3.5 3.4 3.4 3.5 3.7 3.4 3.5 3.9 17

 18 Government-sponsored enterprises 111.6 105.9 102.8 109.0 114.1 119.5 130.7 161.0 201.1 204.1 18

 19 Agency- and GSE-backed mortgage pools 360.5 519.5 652.9 723.6 843.8 991.1 1130.4 1248.2 1334.3 1449.6 19

 20 ABS issuers 24.0 16.6 27.8 34.9 43.3 55.0 96.7 142.3 167.9 183.0 20

 21 Finance companies 38.2 52.4 44.7 52.0 75.1 80.2 90.5 91.5 89.2 67.7 21

 22 REITs 0.3 0.3 0.3 0.4 0.4 0.4 0.4 1.1 2.2 5.1 22

 Memo:

 23 Home equity loans included above (2) ND ND ND ND ND 214.7 222.0 217.1 210.4 221.8 23

 24 U.S.-chartered depository institutions ND ND ND ND ND 175.3 181.6 176.3 171.1 179.1 24

 25 Foreign banking offices in U.S. ND ND ND ND ND 0.0 0.0 0.0 0.0 0.0 25

 26 Credit unions ND ND ND ND ND 20.1 21.4 20.5 19.3 20.9 26

 27 ABS issuers ND ND ND ND ND 0.1 0.4 0.9 1.5 2.1 27

 28 Finance companies 19.7 22.9 27.0 29.3 16.1 19.2 18.7 19.4 18.5 19.7 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 205.9 239.4 258.4 274.5 287.0 287.4 284.1 270.9 267.7 268.2 1

 2 Nonfinancial corporate business 10.3 11.9 12.9 13.7 14.3 14.3 14.1 13.5 13.2 13.1 2

 3 Nonfinancial noncorporate business 194.8 226.5 244.4 259.7 271.5 271.7 268.4 255.7 251.5 248.9 3

 4 Federal government 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 0.8 0.9 1.0 1.1 1.2 1.4 1.6 1.8 3.0 6.2 5

 6 Total assets 205.9 239.4 258.4 274.5 287.0 287.4 284.1 270.9 267.7 268.2 6

 7 Household sector 1.4 2.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 1.4 2.4 4.4 1.3 3.4 1.6 0.6 0.4 0.5 0.9 8

 9 Nonfinancial noncorporate business 8.8 9.8 8.8 11.4 8.2 9.0 8.4 8.4 7.3 7.9 9

 10 Federal government 10.2 11.1 11.5 11.8 12.3 22.9 31.9 27.6 24.6 22.0 10

 11 State and local governments 23.4 30.4 37.4 38.5 39.7 40.7 41.7 42.4 42.8 43.5 11

 12 U.S.-chartered depository institutions 112.3 127.2 135.7 140.3 142.2 127.4 115.0 106.0 104.4 102.2 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies 19.9 21.0 22.5 24.6 26.9 29.0 29.3 27.2 27.5 27.8 14

 15 Private pension funds 2.4 2.7 1.6 2.7 4.0 1.2 0.9 0.7 0.7 1.0 15

 16 State and local govt. retirement funds 6.0 6.0 5.7 5.5 5.2 5.1 4.8 4.2 4.1 4.3 16

 17 Government-sponsored enterprises 8.5 8.7 8.4 9.5 12.0 13.2 14.2 15.8 17.5 18.4 17

 18 Agency- and GSE-backed mortgage pools 7.0 11.9 16.4 21.6 25.7 28.7 26.1 23.8 22.5 22.4 18

 19 ABS issuers 0.0 0.2 0.5 1.0 1.0 0.9 3.8 6.6 8.4 9.8 19

 20 Finance companies 2.9 3.8 3.3 3.8 4.0 5.4 5.3 5.7 5.7 5.8 20

 21 REITs 1.8 1.8 2.1 2.6 2.5 2.3 2.2 2.2 1.9 2.1 21
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Historical Annuals, 1985-1994, March 12, 2015 119

L.220 Commercial Mortgages

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 541.7 602.0 694.1 765.9 801.3 819.8 806.4 762.7 737.8 722.7 1

 2 Household sector 38.6 43.2 49.5 62.7 70.0 77.2 85.8 92.3 103.0 102.2 2

 3 Nonfinancial corporate business 144.7 159.7 225.6 226.3 234.2 255.7 249.5 212.5 193.3 185.0 3

 4 Nonfinancial noncorporate business 356.6 397.1 416.9 474.6 494.6 483.9 467.9 454.3 435.4 423.0 4

 5 REITs 1.7 1.9 2.1 2.3 2.5 2.9 3.2 3.6 6.0 12.5 5

 6 Total assets 541.7 602.0 694.1 765.9 801.3 819.8 806.4 762.7 737.8 722.7 6

 7 Household sector 2.1 1.0 2.9 2.6 3.5 2.8 2.8 3.7 4.6 4.5 7

 8 Nonfinancial corporate business 46.1 34.7 27.2 48.0 23.3 17.7 21.9 23.5 20.8 22.8 8

 9 Nonfinancial noncorporate business 20.7 20.2 16.6 18.2 14.2 11.9 8.2 6.9 6.0 6.5 9

 10 Federal government 8.3 8.4 6.6 5.3 4.4 13.4 21.2 14.6 20.5 13.2 10

 11 State and local governments 4.4 5.1 5.7 6.0 6.4 7.1 7.7 7.5 7.7 8.3 11

 12 U.S.-chartered depository institutions 293.1 339.0 411.3 420.6 447.3 427.4 404.6 379.3 370.4 372.0 12

 13 Foreign banking offices in U.S. 5.7 8.7 13.9 22.1 30.2 45.5 54.3 51.6 45.1 40.3 13

 14 Banks in U.S.-affiliated areas 0.8 0.8 0.9 1.2 1.8 2.5 3.2 3.0 3.1 4.0 14

 15 Property-casualty insurance companies 3.3 4.3 5.0 5.6 6.5 6.9 6.5 5.9 4.5 3.8 15

 16 Life insurance companies 127.7 149.1 166.7 187.5 205.5 215.1 209.5 194.4 178.4 169.8 16

 17 Private pension funds 7.2 4.6 5.2 11.1 13.8 18.2 13.3 10.6 9.1 3.1 17

 18 State and local govt. retirement funds 5.6 6.3 6.2 6.7 6.6 7.5 8.3 8.9 7.0 7.0 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers 0.6 1.1 3.1 4.6 8.4 10.1 12.6 19.1 28.1 31.6 20

 21 Finance companies 12.2 14.5 18.1 20.6 23.9 28.5 27.9 29.1 28.2 29.8 21

 22 REITs 3.8 3.9 4.5 5.6 5.4 5.0 4.5 4.8 4.5 6.1 22

L.221 Farm Mortgages (1)

Billions of dollars

 1 Total liabilities 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 1

 2 Nonfinancial corporate business 7.0 6.3 5.8 5.4 5.3 5.3 5.5 5.6 5.8 6.2 2

 3 Nonfinancial noncorporate business 87.1 77.8 70.0 65.4 63.5 62.3 62.0 62.3 62.6 63.7 3

 4 Total assets 94.1 84.1 75.8 70.8 68.8 67.6 67.5 67.9 68.4 69.9 4

 5 Household sector 21.0 17.2 14.1 11.5 10.5 9.9 10.2 10.7 11.4 11.7 5

 6 Nonfinancial noncorporate business 0.6 0.6 0.7 0.7 0.7 0.6 0.5 0.5 0.4 0.5 6

 7 Federal government 10.4 10.7 10.2 9.8 9.3 8.6 8.2 7.5 7.0 6.7 7

 8 State and local governments 1.4 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.4 8

 9 U.S.-chartered depository institutions 10.1 11.1 12.5 13.1 14.2 14.7 15.7 16.9 17.6 19.0 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 10.6 9.7 8.6 8.2 8.2 8.8 8.6 7.9 8.1 8.1 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 39.6 33.1 28.2 25.9 24.3 23.5 22.8 22.9 22.4 22.1 13

 14 Agency- and GSE-backed mortgage pools 0.4 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.4 14

(1) Excludes mortgages on farm houses.
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120 Historical Annuals, 1985-1994, March 12, 2015

L.222 Consumer Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities (Households) 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 1

 2 Total assets 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 2

 3 Households (nonprofit organizations) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 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 5

 6 Federal government (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.9 6

 7 U.S.-chartered depository institutions 354.8 383.1 399.4 427.6 445.8 431.6 412.3 400.3 433.6 497.2 7

 8 Credit unions 74.0 77.1 81.0 88.3 91.7 91.6 90.3 91.7 101.6 119.6 8

 9 Government-sponsored enterprises 6.8 8.2 10.0 13.2 16.0 19.2 21.1 24.2 26.8 30.4 9

 10 ABS issuers 0.0 0.0 0.0 0.0 47.3 76.7 103.0 120.3 130.5 146.1 10

 11 Finance companies 132.4 151.0 154.1 155.3 144.6 138.1 125.9 122.6 116.1 134.4 11

 Memo:

 12 Credit card loans (3) 131.6 148.9 169.6 194.5 222.3 250.9 277.1 292.3 325.0 383.2 12

 13 Auto loans 211.7 247.9 266.6 285.4 290.9 283.9 264.2 264.0 289.8 330.2 13

 14 Student loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other consumer credit (5) 267.3 269.5 262.4 265.3 296.1 289.6 274.3 268.5 271.4 307.8 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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Historical Annuals, 1985-1994, March 12, 2015 121

L.223 Trade Credit

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total trade payables 745.6 754.6 826.1 919.7 981.6 1026.0 1070.7 1129.6 1197.1 1304.5 1

 2 Household sector 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 2

 3 Nonfinancial corporate business 480.4 478.5 522.8 577.0 598.5 626.9 650.1 683.5 720.0 797.4 3

 4 Nonfinancial noncorporate business 66.6 51.4 56.5 63.9 66.5 66.4 67.8 74.1 75.5 83.0 4

 5 Federal government 58.1 72.7 80.2 88.2 96.8 91.0 85.5 82.7 85.6 85.4 5

 6 State and local governments 98.2 107.7 117.8 128.6 140.4 153.3 167.0 181.4 196.3 212.4 6

 7 Brokers and dealers 8.0 7.6 6.8 8.5 8.0 6.1 6.8 7.4 10.1 9.1 7

 8 Rest of the world 10.0 10.0 10.6 12.2 13.9 15.5 17.4 18.6 21.4 24.0 8

 9 Total trade receivables 939.0 958.0 1040.5 1158.6 1221.4 1271.1 1266.1 1303.1 1360.6 1461.0 9

 10 Nonfinancial corporate business 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 10

 11 Nonfinancial noncorporate business 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 11

 12 Federal government 35.0 32.6 40.6 40.7 43.9 42.1 37.5 30.8 28.4 24.7 12

 13 State and local governments 41.3 42.2 46.0 50.8 54.2 56.7 59.1 62.2 65.8 71.2 13

 14 Property-casualty insurance companies 27.2 32.1 35.7 42.5 45.3 47.2 49.1 49.0 50.7 52.9 14

 15 ABS issuers 2.4 3.3 5.1 6.8 8.7 17.4 21.5 25.8 28.4 35.2 15

 16 Rest of the world 30.0 31.4 31.5 33.6 36.3 42.6 40.8 42.5 43.5 45.0 16

 17 Discrepancy -193.4 -203.4 -214.4 -238.9 -239.9 -245.1 -195.4 -173.5 -163.5 -156.5 17

L.224 Security Credit

Billions of dollars

 1 Total liabilities 129.9 140.7 102.0 107.7 118.8 119.5 172.7 164.4 220.9 218.1 1

 2 Household sector 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 2

 3 Brokers and dealers 79.2 83.3 60.2 64.2 76.3 80.7 117.6 110.9 144.8 143.0 3

 4 Total assets 129.9 140.7 102.0 107.7 118.8 119.5 172.7 164.4 220.9 218.1 4

 5 Household sector 49.8 59.0 41.1 45.1 55.3 64.9 95.5 85.5 112.3 115.7 5

 6 U.S.-chartered depository institutions 24.0 18.5 16.2 16.2 18.2 12.8 14.8 16.8 22.9 19.0 6

 7 Foreign banking offices in U.S. 5.4 5.8 3.0 2.9 2.8 3.1 7.4 8.6 9.6 8.3 7

 8 Brokers and dealers 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 8

L.225 Life Insurance Reserves

Billions of dollars

 1 Total liabilities 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 1

 2 Federal government 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 2

 3 Life insurance companies 246.5 263.7 289.5 314.4 342.8 368.1 393.8 421.5 457.2 491.5 3

 4 Net change in assets 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 4

 5 Households 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7
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122 Historical Annuals, 1985-1994, March 12, 2015

L.226 Pension Entitlements

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 2847.1 3130.2 3400.4 3701.0 4141.8 4435.3 4847.0 5342.8 5774.4 6096.0 1

 2 Life insurance companies (1) 260.4 327.9 348.6 435.5 495.5 569.8 621.2 693.4 775.1 796.6 2

 3 Private pension funds (2) 1215.6 1312.4 1454.2 1557.4 1730.7 1812.3 2018.5 2157.5 2346.9 2477.7 3

 4 Federal government retirement funds (3) 905.0 973.7 1035.2 1098.8 1165.0 1232.5 1303.0 1377.9 1450.1 1522.7 4

 5 State and local govt. retirement funds 466.1 516.2 562.3 609.3 750.6 820.8 904.4 1114.0 1202.4 1299.0 5

 6 Total assets (Households) (4) 2847.1 3130.2 3400.4 3701.0 4141.8 4435.3 4847.0 5342.8 5774.4 6096.0 6

 Memo:

 7 Individual Retirement Accounts (IRAs) at: (5) 241.0 329.0 404.0 468.0 546.0 637.0 776.0 873.0 993.0 1056.0 7

 8 U.S.-chartered depository institutions 127.9 153.8 173.9 197.0 219.9 238.9 251.7 242.9 230.9 223.5 8

 9 Credit unions 12.1 18.1 21.0 22.4 24.3 27.5 31.1 32.1 31.8 31.8 9

 10 Life insurance companies 17.0 22.7 30.1 38.9 37.9 42.0 49.7 55.6 69.5 78.7 10

 11 Money market mutual funds 7.0 9.0 13.9 18.9 27.8 41.0 41.0 44.0 50.0 64.0 11

 12 Mutual funds 25.9 47.7 62.5 73.4 93.1 98.0 143.5 188.7 264.7 276.6 12

 13 Other self-directed accounts 51.2 77.8 102.6 117.4 143.1 189.6 258.9 309.8 346.1 381.3 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 (L.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).

L.227 Taxes Payable by Businesses

Billions of dollars

 1 Total taxes payable by all businesses 69.4 76.3 80.0 80.8 78.7 80.9 73.0 80.2 86.0 86.2 1

 2 Nonfinancial corporate business 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 2

 3 Nonfinancial noncorporate business 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 3

 4 U.S.-chartered depository institutions 4.6 4.9 2.5 2.7 1.4 1.3 -0.1 -0.3 -3.2 -5.2 4

 5 Property-casualty insurance companies 0.9 1.1 1.6 1.9 1.2 1.9 2.6 0.9 3.0 2.6 5

 6 Life insurance companies 2.5 3.1 3.4 3.8 4.8 5.3 6.4 7.8 9.4 10.4 6

 7 Finance companies 0.1 0.2 0.4 0.7 1.0 1.4 1.9 2.6 3.3 4.1 7

 8 Brokers and dealers 0.8 0.9 0.4 0.5 0.6 0.7 0.9 0.9 1.4 1.2 8

 9 Total business taxes receivable 38.1 47.9 49.3 58.1 61.0 59.1 54.8 53.8 54.5 55.5 9

 10 Federal government 11.3 18.4 19.3 24.5 23.8 22.5 16.4 15.5 18.9 18.6 10

 11 State and local governments 26.8 29.5 30.0 33.7 37.1 36.6 38.4 38.3 35.6 36.9 11

 12 Discrepancy 31.3 28.4 30.8 22.6 17.7 21.8 18.1 26.4 31.5 30.7 12

L.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household equity 2506.9 2625.7 2739.2 2881.7 3000.5 3056.7 3015.8 2998.0 3137.4 3342.6 1

 2 Nonfinancial noncorporate business 2503.0 2620.2 2733.9 2876.0 2995.8 3052.7 3011.1 2992.9 3131.2 3337.5 2

 3 Brokers and dealers 3.9 5.5 5.3 5.6 4.7 4.0 4.7 5.1 6.2 5.1 3
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Historical Annuals, 1985-1994, March 12, 2015 123

L.229 Direct Investment

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 407.8 437.5 506.6 535.9 570.7 629.8 657.7 674.4 723.5 786.6 1

 2 Equity 388.6 413.3 479.7 504.2 524.9 589.0 619.3 627.4 664.5 726.0 2

 3 Intercompany debt (2) 19.2 24.2 27.0 31.7 45.7 40.8 38.4 47.0 59.0 60.5 3

 4 U.S. parents’ claims 56.0 58.7 64.0 68.0 92.1 101.5 101.6 112.7 138.9 140.4 4

 5 Less: U.S. parents’ liabilities 73.6 67.2 65.6 58.4 63.9 73.8 77.5 76.3 79.9 79.9 5

 6 Asset: Nonfinancial corporate business 377.1 402.3 462.5 484.7 497.9 556.2 580.3 586.4 607.1 685.6 6

 7 U.S.-chartered depository institutions 14.8 15.0 18.7 20.2 22.6 24.9 25.4 29.9 33.8 35.6 7

 8 Property-casualty insurance companies 10.0 11.8 15.5 18.9 22.4 24.8 23.7 24.0 28.8 32.2 8

 9 Life insurance companies 1.6 1.5 1.9 2.1 2.4 2.7 3.7 4.0 4.9 4.8 9

 10 Finance companies 3.4 5.7 5.2 7.3 23.1 18.7 21.2 24.6 44.6 25.9 10

 11 Brokers and dealers 0.9 1.2 2.8 2.7 2.3 2.5 3.5 5.4 4.3 2.6 11

 Foreign direct investment in U.S.:

 12 Liab.: Nonfinancial corporate business 210.9 254.1 316.7 394.3 454.6 513.3 511.3 523.6 545.3 598.1 12

 13 Nonfinancial noncorporate business 8.0 8.1 3.1 6.5 8.7 3.8 3.9 4.4 5.2 4.8 13

 14 Foreign banking offices in U.S. 11.4 12.4 14.4 16.9 18.6 18.4 24.9 21.2 24.0 26.3 14

 15 Property-casualty insurance companies 4.5 6.0 10.5 11.7 14.2 17.3 24.7 25.7 26.7 27.9 15

 16 Life insurance companies 7.3 9.4 7.2 7.3 8.6 9.9 8.6 9.7 13.1 10.9 16

 17 Finance companies 1.4 3.6 3.5 2.7 9.3 4.6 5.6 4.2 10.2 6.0 17

 18 Brokers and dealers 3.8 3.6 3.1 4.8 6.3 3.8 5.8 5.3 23.7 14.0 18

 19 Funding corporations 0.0 -12.4 -23.9 -42.4 -52.4 -65.7 -51.4 -53.8 -54.9 -70.1 19

 20 Asset: Rest of the world (1) 247.2 284.7 334.6 401.8 467.9 505.3 533.4 540.3 593.3 618.0 20

 21 Equity 200.2 226.4 258.9 314.5 356.0 387.1 419.5 425.1 449.4 484.0 21

 22 Intercompany debt 47.0 58.3 75.7 87.2 111.9 118.2 113.9 115.2 143.9 134.0 22

 23 U.S. affiliates’ liabilities 62.8 76.2 101.5 119.3 145.4 165.9 171.4 183.6 207.3 173.6 23

 24 Less: U.S. affiliates’ claims 15.8 17.9 25.9 32.1 33.6 47.7 57.6 68.4 63.4 39.6 24

 Memo:

 Direct investment, asset/liability presentation:

 25 Direct investment assets 460.4 489.9 569.6 604.2 650.6 738.2 778.4 808.6 866.8 906.1 25

 26 Equity (line 2) 388.6 413.3 479.7 504.2 524.9 589.0 619.3 627.4 664.5 726.0 26

 27 Intercompany debt 71.8 76.6 89.9 100.1 125.7 149.2 159.1 181.2 202.3 180.0 27

 28 U.S. parents’ claims (line 4) 56.0 58.7 64.0 68.0 92.1 101.5 101.6 112.7 138.9 140.4 28

 29 U.S. affiliates’ claims (line 24) 15.8 17.9 25.9 32.1 33.6 47.7 57.6 68.4 63.4 39.6 29

 30 Direct investment liabilities 336.6 369.8 426.1 492.3 565.4 626.9 668.4 685.0 736.6 737.5 30

 31 Equity (line 21) 200.2 226.4 258.9 314.5 356.0 387.1 419.5 425.1 449.4 484.0 31

 32 Intercompany debt 136.3 143.4 167.2 177.7 209.4 239.8 248.9 259.9 287.2 253.5 32

 33 U.S. parents’ liabilities (line 5) 73.6 67.2 65.6 58.4 63.9 73.8 77.5 76.3 79.9 79.9 33

 34 U.S. affiliates’ liabilities (line 23) 62.8 76.2 101.5 119.3 145.4 165.9 171.4 183.6 207.3 173.6 34

 Alternative valuations of direct investment assets:

 U.S. direct investment abroad:

 35 Market value 423.1 562.7 618.8 714.6 850.0 744.9 841.9 809.2 1061.3 1114.6 35

 36 Equity 403.9 538.5 591.9 682.9 804.3 704.1 803.5 762.2 1002.3 1054.0 36

 37 Intercompany debt 19.2 24.2 27.0 31.7 45.7 40.8 38.4 47.0 59.0 60.5 37

 38 Historical cost 275.1 303.1 354.8 369.3 399.3 443.7 482.2 512.6 564.3 612.9 38

 39 Equity 255.9 278.9 327.9 337.6 353.6 402.9 443.8 465.6 505.3 552.4 39

 40 Intercompany debt 19.2 24.2 27.0 31.7 45.7 40.8 38.4 47.0 59.0 60.5 40

 Foreign direct investment in U.S.:

 41 Market value 220.0 273.0 316.2 391.5 534.7 539.6 669.1 696.2 768.4 757.9 41

 42 Equity 173.0 214.7 240.5 304.3 422.9 421.4 555.3 581.0 624.5 623.9 42

 43 Intercompany debt 47.0 58.3 75.7 87.2 111.9 118.2 113.9 115.2 143.9 134.0 43

 44 Historical cost 184.6 220.4 263.4 314.8 368.9 394.9 419.1 423.1 467.4 480.7 44

 45 Equity 137.6 162.1 187.7 227.5 257.1 276.7 305.2 308.0 323.5 346.7 45

 46 Intercompany debt 47.0 58.3 75.7 87.2 111.9 118.2 113.9 115.2 143.9 134.0 46

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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124 Historical Annuals, 1985-1994, March 12, 2015

L.230 Total Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 3110.6 3192.1 3397.5 3707.6 3955.4 4111.7 4387.3 4952.6 5176.7 5523.3 1

 2 Household sector 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 2

 3 Nonfinancial corporate business 951.7 868.5 837.9 922.6 997.3 978.1 1125.7 1334.5 1403.6 1316.7 3

 4 Nonfinancial noncorporate business 122.8 131.3 124.9 142.2 163.1 159.8 163.5 177.3 182.4 198.4 4

 5 Federal government 905.0 973.7 1035.3 1101.8 1167.8 1232.2 1298.6 1369.1 1436.0 1503.3 5

 6 State and local governments 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 6

 7 Monetary authority 4.8 3.7 4.7 5.8 5.2 4.2 3.8 3.4 4.3 5.2 7

 8 U.S.-chartered depository institutions 272.4 300.8 332.3 401.8 377.3 395.6 397.1 440.1 501.2 725.0 8

 9 Foreign banking offices in U.S. 28.0 33.6 44.0 61.3 68.5 69.6 73.7 78.5 70.8 85.0 9

 10 Banks in U.S.-affiliated areas 10.1 7.3 5.4 5.4 5.7 6.5 4.9 5.5 6.6 8.9 10

 11 Credit unions 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 11

 12 Property-casualty insurance companies 210.2 252.4 293.8 323.9 355.7 379.7 391.7 414.3 429.4 444.0 12

 13 Life insurance companies 234.1 251.8 298.6 307.7 334.2 338.2 379.6 392.8 422.7 463.5 13

 14 Government-sponsored enterprises 54.9 63.1 60.7 61.8 68.0 69.2 76.5 89.0 84.0 59.1 14

 15 Finance companies 103.4 102.1 131.6 149.5 147.7 156.8 172.5 185.0 185.9 192.3 15

 16 REITs 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 16

 17 Brokers and dealers 23.1 29.5 36.2 37.2 28.9 33.8 35.8 46.9 62.4 63.2 17

 18 Holding companies 4.6 15.5 16.7 17.6 22.0 25.2 19.8 23.6 21.4 24.2 18

 19 Funding corporations 84.8 88.2 115.9 128.0 140.8 154.1 176.7 212.7 205.7 215.5 19

 20 Rest of the world 32.4 31.6 29.2 28.7 27.9 28.9 33.8 29.4 33.2 42.5 20

 21 Total assets 2925.3 3255.6 3645.6 4169.8 4431.1 4700.2 4854.3 5272.8 5616.7 6104.5 21

 22 Household sector 146.7 167.4 195.8 216.7 233.9 253.8 264.5 282.8 296.1 310.8 22

 23 Nonfinancial corporate business 935.6 1055.0 1159.1 1397.1 1538.6 1578.6 1634.5 1719.2 1949.2 2029.6 23

 24 Nonfinancial noncorporate business 75.2 86.1 88.2 103.3 112.6 109.2 118.6 123.6 139.7 158.9 24

 25 Federal government 15.8 16.3 17.4 18.6 34.0 68.1 104.2 119.6 115.7 119.0 25

 26 State and local governments 7.7 9.4 13.3 7.4 8.8 10.3 13.9 10.6 -23.6 24.9 26

 27 Monetary authority 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 27

 28 U.S.-chartered depository institutions 168.5 180.1 207.3 260.8 221.1 189.2 175.6 165.9 165.2 270.5 28

 29 Foreign banking offices in U.S. 7.2 10.6 13.7 18.4 22.5 25.2 30.2 33.4 32.7 45.8 29

 30 Banks in U.S.-affiliated areas 4.4 2.4 1.8 3.2 4.1 4.2 3.7 3.0 2.6 2.4 30

 31 Credit unions 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.2 14.8 31

 32 Life insurance companies 56.2 63.3 75.9 84.3 92.7 88.3 98.5 95.4 93.5 100.3 32

 33 Private pension funds 238.6 304.9 425.1 511.4 468.8 536.8 487.4 525.1 493.4 501.6 33

 34 Federal government retirement funds 905.0 973.7 1034.1 1096.0 1160.0 1224.5 1291.7 1362.2 1429.2 1496.5 34

 35 State and local govt. retirement funds 50.3 22.9 11.9 -7.8 30.6 67.3 16.5 134.0 109.0 153.9 35

 36 Money market mutual funds 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 36

 37 Mutual funds 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 37

 38 Government-sponsored enterprises 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 38

 39 Finance companies 0.6 0.6 7.1 7.8 -5.1 -2.6 6.0 -4.4 -15.5 -13.0 39

 40 REITs 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 40

 41 Brokers and dealers 25.9 33.5 35.4 44.5 64.2 94.5 125.5 175.0 224.3 251.6 41

 42 Holding companies 227.4 254.3 265.6 286.7 303.6 307.0 312.9 343.1 388.0 418.6 42

 43 Funding corporations 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 43

 44 Discrepancy 185.3 -63.5 -248.1 -462.2 -475.7 -588.5 -467.1 -320.2 -440.0 -581.1 44
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Historical Annuals, 1985-1994, March 12, 2015 125

L.231 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 1

 2 Asset: Federal government 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 3

 4 Asset: U.S.-chartered depository institutions 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 4

 Equity in government-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 13.1 13.7 15.0 16.9 16.3 13.7 13.0 12.8 14.4 16.3 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 6

 7 Nonfinancial noncorporate (FCS) 4.5 3.9 3.5 3.5 2.8 2.4 2.6 2.5 2.8 3.0 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 8.3 9.5 11.3 13.2 13.4 11.1 10.2 10.1 11.4 12.9 9

 10 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 10

 11 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 11

 Holding company net transactions with subsidiaries:

 12 Liab.: U.S.-chartered depository institutions 135.5 153.5 160.8 183.8 194.2 211.8 229.3 266.1 296.2 311.7 12

 13 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Finance companies 43.9 52.2 46.9 27.3 25.3 21.2 14.8 14.8 21.2 25.2 15

 16 Brokers and dealers 27.3 27.3 38.9 59.0 67.0 48.5 41.3 38.7 46.6 47.3 16

 17 Rest of the world 16.6 15.3 11.8 10.1 8.3 7.9 10.3 4.5 6.8 14.6 17

 18 Asset: Holding companies 223.2 248.3 258.3 280.1 294.8 289.3 295.6 324.0 370.7 398.8 18

 NFC investment in finance company subsidiaries:

 19 Liab.: Finance companies 16.7 18.7 12.5 9.5 9.9 15.5 17.6 19.6 14.4 16.6 19

 20 Asset: Nonfinancial corporate business 16.7 18.7 12.5 9.5 9.9 15.5 17.6 19.6 14.4 16.6 20

 Funding corporations’ investment in subsidiaries:

 21 Liab.: Foreign banking offices in U.S. 22.7 26.9 34.1 46.9 49.5 47.6 47.2 51.1 44.5 44.1 21

 22 Brokers and dealers 16.0 19.4 21.7 28.5 28.3 33.8 44.5 63.7 80.8 96.9 22

 23 Asset: Funding corporations 38.7 46.2 55.8 75.4 77.8 81.4 91.7 114.8 125.4 141.0 23

 Equity investment under Public-Private Inv. Program:

 24 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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126 Historical Annuals, 1985-1994, March 12, 2015

L.232 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 1

 2 Asset: Federal government 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 23.3 27.0 20.4 19.0 25.9 30.7 31.7 30.8 23.7 16.0 6

 7 Asset: U.S.-chartered depository institutions 23.3 27.0 20.4 19.0 25.9 30.7 31.7 30.8 23.7 16.0 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 8

 9 Asset: Life insurance companies 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 56.9 61.0 66.3 72.6 77.9 83.5 89.4 97.8 105.4 113.5 10

 11 Accident and health 18.8 21.3 24.0 26.9 29.9 33.4 38.2 45.2 51.4 58.0 11

 12 Policy dividend accumulation 26.3 26.9 27.9 29.1 30.7 31.9 31.7 32.3 32.8 32.9 12

 13 Contract claims 11.8 12.8 14.5 16.7 17.4 18.1 19.4 20.4 21.3 22.6 13

 14 Asset: Household sector 56.9 61.0 66.3 72.6 77.9 83.5 89.4 97.8 105.4 113.5 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 210.2 252.4 293.8 323.9 355.7 379.7 391.7 414.3 429.4 444.0 15

 16 Asset: Household sector 89.8 106.4 129.4 144.1 156.0 170.3 175.2 185.0 190.7 197.3 16

 17 Nonfinancial corporate business 64.2 83.1 106.6 121.6 136.0 149.3 151.5 165.2 172.1 178.0 17

 18 Nonfinancial noncorporate business 56.3 62.9 57.8 58.2 63.8 60.0 65.0 64.1 66.7 68.7 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 19

 20 Asset: Private pension funds 131.8 146.9 186.3 186.9 204.7 214.8 244.5 247.6 267.9 297.9 20

 21 State and local government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 Pension fund contributions payable:

 22 Liab.: Nonfinancial corporate business 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 22

 23 Asset: Private pension funds 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 23

 Securities borrowed (net):

 24 Liab.: Funding corporations 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 24

 25 Asset: Brokers and dealers 6.9 12.0 15.1 23.2 39.3 71.4 102.9 153.5 197.1 221.7 25

 Nonmarketable government securities:

 26 Liab.: Federal government 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 26

 27 Asset: Federal government retirement funds 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 27

 Retiree health care funds (2):

 28 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 Claims of pension fund on sponsor (3):

 30 Liab.: Nonfinancial corporate business -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 30

 31 Federal government 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 31

 32 State and local governments 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 32

 33 Asset: Private pension funds -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 33

 34 Federal government retirement funds 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 34

 35 State and local govt. retirement funds 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 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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L.233 Unidentified Miscellaneous Financial Claims

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Total liabilities 1407.6 1310.0 1291.7 1417.4 1516.5 1402.2 1635.6 1826.4 1911.9 2048.7 1

 2 Nonfinancial corporate business 957.0 839.7 734.4 761.1 881.9 771.2 996.2 1157.2 1266.0 1200.7 2

 3 Nonfinancial noncorporate business 122.8 131.3 124.9 142.2 163.1 159.8 163.5 177.3 182.4 198.4 3

 4 Federal government 0.0 0.0 1.2 5.8 7.8 7.7 7.0 6.9 6.8 6.8 4

 5 Monetary authority 3.1 1.9 2.7 3.7 2.9 1.8 1.2 0.4 0.9 1.6 5

 6 U.S.-chartered depository institutions 136.9 147.3 171.5 218.1 183.2 183.8 167.9 174.0 205.0 413.3 6

 7 Foreign banking offices in U.S. 3.4 4.7 6.1 8.7 11.6 15.2 20.3 21.6 21.5 36.0 7

 8 Banks in U.S.-affiliated areas 10.1 7.3 5.4 5.4 5.7 6.5 4.9 5.5 6.6 8.9 8

 9 Credit unions 2.8 3.0 3.9 4.3 3.7 3.9 4.5 4.6 5.1 6.4 9

 10 Life insurance companies 45.4 43.9 46.0 48.2 51.6 39.9 45.7 47.4 49.5 52.1 10

 11 Government-sponsored enterprises 18.4 22.5 25.3 25.8 25.8 24.9 31.8 45.4 45.9 26.9 11

 12 Finance companies 42.8 31.2 72.2 112.7 112.4 120.1 140.1 150.6 150.3 150.5 12

 13 REITs 0.7 0.8 1.2 3.5 2.1 1.2 2.9 2.4 2.3 5.3 13

 14 Brokers and dealers -20.2 -17.2 -24.4 -50.3 -66.5 -48.6 -50.0 -55.4 -65.1 -81.0 14

 15 Holding companies 4.6 15.5 16.7 17.6 22.0 25.2 19.8 23.6 21.4 24.2 15

 16 Funding corporations 78.0 76.2 100.8 104.8 101.5 82.7 73.7 59.1 8.6 -6.2 16

 17 Total assets 1222.3 1373.5 1539.8 1879.6 1992.2 1990.6 2102.6 2146.6 2351.8 2629.9 17

 18 Nonfinancial corporate business 854.5 952.9 1039.8 1265.8 1392.6 1413.6 1465.2 1534.2 1762.5 1834.8 18

 19 Nonfinancial noncorporate business 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 19

 20 Federal government 0.0 0.0 0.0 0.0 14.3 47.1 80.7 94.6 89.3 91.1 20

 21 State and local governments 7.7 9.4 13.3 7.4 8.8 10.3 13.9 10.6 -23.6 24.9 21

 22 Monetary authority 8.0 7.7 9.9 9.4 7.2 6.0 5.6 7.4 9.6 9.8 22

 23 U.S.-chartered depository institutions 135.0 141.8 173.6 226.4 179.6 145.0 131.1 122.0 126.7 237.9 23

 24 Foreign banking offices in U.S. 7.2 10.6 13.7 18.4 22.5 25.2 30.2 33.4 32.7 45.8 24

 25 Banks in U.S.-affiliated areas 4.4 2.4 1.8 3.2 4.1 4.2 3.7 3.0 2.6 2.4 25

 26 Credit unions 4.8 7.7 5.0 5.1 6.2 8.2 12.8 16.5 18.1 14.7 26

 27 Life insurance companies 41.0 49.5 60.8 68.7 76.4 71.8 82.8 79.6 77.2 83.5 27

 28 Private pension funds 112.1 129.3 135.3 163.0 148.8 115.1 113.3 100.3 87.9 87.7 28

 29 State and local govt. retirement funds 0.7 1.5 1.7 3.3 7.6 9.0 6.1 6.2 5.6 5.9 29

 30 Mutual funds 1.0 2.7 3.8 3.5 7.1 8.9 8.2 3.0 3.3 5.9 30

 31 Money market mutual funds 2.0 3.6 4.4 4.6 7.5 4.0 7.7 12.7 23.7 27.8 31

 32 Government-sponsored enterprises 3.9 5.8 12.7 20.2 30.3 32.9 39.2 26.9 32.5 27.3 32

 33 Finance companies 0.6 0.6 7.1 7.8 -5.1 -2.6 6.0 -4.4 -15.5 -13.0 33

 34 REITs 1.7 1.3 2.2 3.1 4.7 4.3 5.4 3.1 4.6 6.4 34

 35 Brokers and dealers 19.0 21.5 20.3 21.3 24.9 23.1 22.6 21.5 27.2 30.0 35

 36 Holding companies 4.2 6.0 7.3 6.6 8.8 17.7 17.3 19.1 17.3 19.8 36

 37 Discrepancy 185.3 -63.5 -248.1 -462.2 -475.7 -588.5 -467.1 -320.2 -440.0 -581.1 37
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128 Historical Annuals, 1985-1994, March 12, 2015

B.101 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 17639.4 19467.6 20857.1 22827.7 24869.4 25684.8 27322.9 28565.7 30263.6 31503.0 1

 2 Nonfinancial assets 6784.2 7422.7 8042.7 8764.3 9464.6 9733.0 9946.2 10274.0 10645.7 11092.4 2

 3 Real estate 5340.0 5828.0 6311.2 6877.6 7444.3 7590.5 7717.7 7961.6 8220.1 8539.6 3

 4 Households (2,3) 4699.0 5149.5 5598.7 6118.0 6641.1 6796.9 6968.5 7260.3 7515.1 7790.4 4

 5 Nonprofit organizations 641.1 678.5 712.6 759.6 803.2 793.7 749.2 701.4 705.0 749.2 5

 6 Equipment (nonprofits) (4) 50.4 54.3 58.6 63.3 68.6 74.3 78.8 82.8 85.1 87.6 6

 7 Intellectual property products (nonprofits) (4) 16.7 18.1 20.2 23.0 26.1 29.0 32.3 36.1 38.3 41.0 7

 8 Consumer durable goods (4) 1377.0 1522.3 1652.7 1800.3 1925.7 2039.1 2117.4 2193.4 2302.2 2424.1 8

 9 Financial assets 10855.2 12045.0 12814.4 14063.5 15404.7 15951.8 17376.8 18291.7 19617.9 20410.6 9

 10 Deposits 2643.7 2919.0 3079.0 3282.6 3449.2 3527.5 3519.0 3362.2 3288.7 3245.8 10

 11 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 11

 12 Checkable deposits and currency 344.8 461.9 460.9 460.5 462.2 450.8 505.0 616.4 667.5 636.4 12

 13 Time and savings deposits 2094.7 2213.2 2352.4 2538.4 2624.0 2673.9 2591.8 2364.7 2242.0 2217.5 13

 14 Money market fund shares 196.3 235.1 256.0 273.0 351.1 389.4 407.7 365.5 363.5 373.1 14

 15 Credit market instruments 953.5 988.2 1162.2 1404.9 1498.4 1749.0 1812.1 1879.1 1989.1 2388.6 15

 16 Open market paper 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 16

 17 Treasury securities 282.2 270.9 308.2 393.5 394.9 503.8 535.3 627.1 672.9 870.9 17

 18 Agency- and GSE-backed securities 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.4 18

 19 Municipal securities 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 640.8 594.1 19

 20 Corporate and foreign bonds 80.1 114.4 129.7 157.6 196.1 245.1 257.9 275.6 422.3 545.7 20

 21 Other loans and advances (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Mortgages 116.2 112.6 120.2 122.5 131.4 141.4 143.1 137.1 129.7 120.8 22

 23 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Corporate equities (2) 1229.5 1494.0 1462.6 1756.7 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 24

 25 Mutual fund shares (6) 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 25

 26 Security credit 49.8 59.0 41.1 45.1 55.3 64.9 95.5 85.5 112.3 115.7 26

 27 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 27

 28 Pension entitlements (7) 2847.1 3130.2 3400.4 3701.0 4141.8 4435.3 4847.0 5342.8 5774.4 6096.0 28

 29 Equity in noncorporate business (8) 2506.9 2625.7 2739.2 2881.7 3000.5 3056.7 3015.8 2998.0 3137.4 3342.6 29

 30 Miscellaneous assets 146.7 167.4 195.8 216.7 233.9 253.8 264.5 282.8 296.1 310.8 30

 31 Liabilities 2362.2 2627.4 2835.2 3136.6 3421.5 3689.9 3902.0 4110.7 4381.8 4710.1 31

 32 Credit market instruments 2272.0 2529.5 2747.1 3036.3 3305.1 3567.8 3755.0 3959.4 4201.3 4525.0 32

 33 Home mortgages (9) 1450.2 1649.0 1828.6 2054.8 2260.1 2489.3 2667.4 2840.4 2999.0 3165.5 33

 34 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 34

 35 Municipal securities (10) 81.3 78.4 78.1 79.6 82.7 85.7 89.5 91.9 93.0 96.1 35

 36 Depository institution loans n.e.c. 19.0 17.5 17.9 18.3 8.7 9.6 7.7 14.7 23.6 32.3 36

 37 Other loans and advances 72.2 75.0 74.3 75.7 74.3 81.7 89.1 95.3 96.6 107.7 37

 38 Commercial mortgages (10) 38.6 43.2 49.5 62.7 70.0 77.2 85.8 92.3 103.0 102.2 38

 39 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 39

 40 Trade payables (10) 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 40

 41 Deferred and unpaid life insurance premiums 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 41

 42 Net worth 15277.2 16840.3 18021.9 19691.1 21447.9 21995.0 23420.9 24455.0 25881.8 26792.8 42

 Memo:

 Replacement-cost value of structures:

 43 Residential 3130.4 3387.9 3628.5 3877.7 4118.1 4286.8 4385.9 4644.1 4959.0 5345.6 43

 44 Households 3046.3 3297.7 3534.2 3779.8 4017.5 4184.0 4283.7 4539.7 4852.9 5236.5 44

 45 Nonprofit organizations 84.2 90.2 94.3 97.9 100.6 102.8 102.2 104.3 106.1 109.1 45

 46 Nonresidential (nonprofits) 353.5 375.0 398.2 421.7 446.7 469.0 481.2 503.0 530.8 565.1 46

 47 Disposable personal income (SAAR) 3098.5 3287.9 3466.3 3770.4 4052.1 4311.8 4484.5 4800.3 5000.2 5244.2 47

 Household net worth as percentage of

 48 disposable personal income (SAAR) 493.0 512.2 519.9 522.3 529.3 510.1 522.3 509.5 517.6 510.9 48

 Owners’ equity in household real

 49 estate (11) 3248.7 3500.5 3770.1 4063.2 4381.0 4307.6 4301.1 4419.9 4516.1 4624.9 49

 Owners’ equity as percentage of

 50 household real estate (12) 69.1 68.0 67.3 66.4 66.0 63.4 61.7 60.9 60.1 59.4 50

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

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

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

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

(8) Net worth of nonfinancial noncorporate business (table B.104, line 34) and owners’ equity in unincorporated security brokers and dealers.

(9) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 23.

(10) Liabilities of nonprofit organizations.

(11) Line 4 less line 33.

(12) Line 49 divided by line 4.
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Historical Annuals, 1985-1994, March 12, 2015 129

B.103 Balance Sheet of Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 7803.0 8153.5 8675.8 9432.7 9975.9 10238.1 10208.9 10219.9 10700.2 11371.6 1

 2 Nonfinancial assets 5329.6 5511.2 5802.6 6180.2 6495.0 6649.1 6494.3 6342.4 6474.3 6875.8 2

 3 Real estate (1) 2872.9 2956.9 3096.1 3297.0 3446.5 3433.1 3205.3 2947.6 2933.3 3104.9 3

 4 Equipment (2) 1416.4 1491.4 1552.9 1635.0 1718.9 1813.3 1861.3 1915.6 1994.4 2106.5 4

 5 Intellectual property products (2) 319.8 348.0 382.0 414.9 452.8 492.9 532.7 568.8 603.7 648.3 5

 6 Inventories (2) 720.6 714.9 771.5 833.3 876.8 909.8 894.9 910.4 942.9 1016.2 6

 7 Financial assets 2473.3 2642.3 2873.2 3252.5 3480.9 3588.9 3714.6 3877.5 4225.8 4495.8 7

 8 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 8

 9 Checkable deposits and currency 126.5 128.1 137.7 151.6 160.7 166.9 173.8 169.6 190.2 202.1 9

 10 Time and savings deposits 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 10

 11 Money market fund shares 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 11

 12 Security repurchase agreements 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 12

 13 Credit market instruments 180.7 175.1 174.3 193.3 225.5 199.4 230.0 257.8 271.5 289.2 13

 14 Commercial paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 14

 15 Treasury securities 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 15

 16 Agency- and GSE-backed securities 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 16

 17 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 17

 18 Mortgages 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 18

 19 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 19

 20 Mutual fund shares (1) 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 20

 21 Trade receivables 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 21

 22 U.S. direct investment abroad (3) 377.1 402.3 462.5 484.7 497.9 556.2 580.3 586.4 607.1 685.6 22

 23 Miscellaneous assets 935.6 1055.0 1159.1 1397.1 1538.6 1578.6 1634.5 1719.2 1949.2 2029.6 23

 24 Liabilities 3321.0 3509.6 3784.5 4201.8 4542.8 4739.8 4840.4 5120.5 5400.0 5639.8 24

 25 Credit market instruments 1638.9 1865.8 2059.2 2263.5 2454.1 2583.3 2524.4 2543.6 2690.4 2887.2 25

 26 Commercial paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 26

 27 Municipal securities (4) 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 27

 28 Corporate bonds (3) 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 28

 29 Depository institution loans n.e.c. 453.9 519.6 524.0 565.4 604.5 594.1 542.3 514.0 506.7 554.2 29

 30 Other loans and advances 238.2 275.5 308.4 353.8 402.7 463.1 405.6 411.8 384.8 422.0 30

 31 Mortgages 169.3 185.3 252.7 255.0 263.2 285.9 277.1 237.9 218.3 211.6 31

 32 Trade payables 480.4 478.5 522.8 577.0 598.5 626.9 650.1 683.5 720.0 797.4 32

 33 Taxes payable 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 33

 34 Foreign direct investment in U.S. 210.9 254.1 316.7 394.3 454.6 513.3 511.3 523.6 545.3 598.1 34

 35 Miscellaneous liabilities 951.7 868.5 837.9 922.6 997.3 978.1 1125.7 1334.5 1403.6 1316.7 35

 36 Net worth (market value) 4482.0 4644.0 4891.2 5230.8 5433.0 5498.3 5368.4 5099.4 5300.2 5731.9 36

 Memo:

 Replacement-cost value of structures:

 37 Residential 51.4 55.1 57.2 59.1 60.0 61.0 62.1 64.4 65.9 68.7 37

 38 Nonresidential 2006.7 2056.9 2153.7 2287.8 2411.8 2532.3 2566.9 2652.2 2787.2 2931.0 38

 39 Market value of equities outstanding 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 39

 40 Debt/net worth (percent) (line 25 divided by line 36) 36.6 40.2 42.1 43.3 45.2 47.0 47.0 49.9 50.8 50.4 40

 41 Debt/equities (percent) (line 25 divided by line 39) 85.5 83.3 90.1 88.5 78.2 87.4 63.1 58.3 55.6 60.2 41

 42 Equities/net worth (percent) (line 39 divided by line 36) 42.8 48.3 46.7 48.9 57.8 53.8 74.5 85.5 91.4 83.7 42

 With nonfinancial assets stated at historical cost:

 43 Assets (sum of lines 7 and 44) 5711.9 6048.6 6495.3 7101.8 7545.3 7958.6 8252.4 8621.2 9210.5 9762.5 43

 44 Nonfinancial assets 3238.6 3406.3 3622.1 3849.3 4064.4 4369.7 4537.8 4743.7 4984.7 5266.7 44

 45 Real estate 1171.2 1244.6 1316.0 1397.7 1478.6 1664.0 1741.6 1805.2 1879.6 1955.4 45

 46 Equipment 1070.7 1138.1 1194.0 1258.0 1328.8 1399.7 1460.1 1530.6 1622.4 1737.2 46

 47 Intellectual property products 271.8 302.1 329.5 358.6 393.1 430.6 469.3 505.3 542.0 578.1 47

 48 Inventories 724.8 721.5 782.6 834.9 863.9 875.4 866.8 902.5 940.6 996.0 48

 49 Net worth (historical cost) (line 43 less line 24) 2390.9 2539.0 2710.8 2899.9 3002.4 3218.8 3411.9 3500.6 3810.5 4122.7 49

 Memo:

 Historical-cost value of structures:

 50 Residential 19.3 20.8 22.1 23.1 24.2 25.1 26.1 27.0 27.9 29.2 50

 51 Nonresidential 1034.3 1099.9 1161.5 1224.7 1292.3 1377.9 1448.9 1508.9 1573.3 1638.2 51

 52 Debt/net worth (percent) (line 25 divided by line 49) 68.5 73.5 76.0 78.1 81.7 80.3 74.0 72.7 70.6 70.0 52

 (1) At market value.

 (2) At replacement (current) cost.

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

 (4) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.
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B.104 Balance Sheet of Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 3655.0 3834.5 4000.5 4257.4 4455.7 4505.3 4440.7 4417.3 4540.6 4785.8 1

 2 Nonfinancial assets 3353.9 3498.2 3669.6 3875.6 4065.9 4113.9 4041.2 3991.1 4086.8 4269.6 2

 3 Real estate (1) 2912.3 3054.7 3208.4 3388.7 3557.1 3587.4 3522.1 3460.0 3547.8 3707.9 3

 4 Residential 1603.3 1735.6 1819.7 1914.6 1997.9 2026.6 2031.6 2037.4 2105.2 2198.4 4

 5 Nonresidential 1308.9 1319.2 1388.7 1474.1 1559.2 1560.8 1490.6 1422.6 1442.6 1509.5 5

 6 Equipment (2) 283.7 294.6 303.7 319.7 333.5 342.2 343.1 343.3 349.7 362.1 6

 7 Residential (3) 20.7 22.3 23.9 25.6 26.9 27.9 28.2 28.9 30.1 31.2 7

 8 Nonresidential 263.1 272.2 279.8 294.1 306.6 314.4 314.9 314.4 319.6 331.0 8

 9 Intellectual property products (2) 22.0 24.4 28.1 31.7 35.7 39.4 42.9 46.2 49.4 52.8 9

 10 Inventories (2) 135.9 124.5 129.5 135.5 139.5 144.8 133.1 141.5 139.9 146.7 10

 11 Financial assets 301.1 336.3 330.9 381.8 389.8 391.5 399.5 426.2 453.8 516.2 11

 12 Checkable deposits and currency 71.8 74.3 75.2 79.8 81.0 83.2 85.3 90.7 93.9 106.3 12

 13 Time and savings deposits 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 13

 14 Money market fund shares 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 14

 15 Credit market instruments 49.7 55.4 47.7 58.2 47.1 43.6 38.3 38.1 36.9 43.7 15

 16 Treasury securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 16

 17 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 17

 18 Mortgages 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 18

 19 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Trade receivables 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 20

 21 Miscellaneous assets 75.2 86.1 88.2 103.3 112.6 109.2 118.6 123.6 139.7 158.9 21

 22 Insurance receivables 56.3 62.9 57.8 58.2 63.8 60.0 65.0 64.1 66.7 68.7 22

 23 Equity investment in GSEs (4) 4.5 3.9 3.5 3.5 2.8 2.4 2.6 2.5 2.8 3.0 23

 24 Other 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 24

 25 Liabilities 1152.0 1214.3 1266.5 1381.3 1459.9 1452.6 1429.6 1424.4 1409.4 1448.3 25

 26 Credit market instruments 933.0 1000.2 1058.2 1141.9 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 26

 27 Depository institution loans n.e.c. 131.4 132.0 140.7 150.0 162.7 166.7 166.7 169.5 173.9 189.2 27

 28 Other loans and advances 93.8 93.0 94.8 93.8 97.9 98.9 97.6 98.4 95.5 99.2 28

 29 Mortgages 707.8 775.2 822.7 898.1 929.6 924.9 897.6 867.6 845.5 840.9 29

 30 Trade payables 66.6 51.4 56.5 63.9 66.5 66.4 67.8 74.1 75.5 83.0 30

 31 Taxes payable 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 31

 32 Foreign direct investment in U.S. 8.0 8.1 3.1 6.5 8.7 3.8 3.9 4.4 5.2 4.8 32

 33 Miscellaneous liabilities 122.8 131.3 124.9 142.2 163.1 159.8 163.5 177.3 182.4 198.4 33

 34 Net worth (5) 2503.0 2620.2 2733.9 2876.0 2995.8 3052.7 3011.1 2992.9 3131.2 3337.5 34

 Memo:

 Replacement-cost value of structures:

 35 Residential 1081.2 1158.4 1211.3 1258.8 1294.2 1322.6 1336.0 1380.4 1424.6 1480.1 35

 36 Nonresidential 530.4 564.1 602.6 647.3 688.0 717.0 719.1 730.2 756.0 789.2 36

 37 Debt/net worth (percent) (6) 37.3 38.2 38.7 39.7 39.7 39.0 38.6 37.9 35.6 33.8 37

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 25. Included in table B.101, line 29.

(6) Line 26 divided by line 34.
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Historical Annuals, 1985-1994, March 12, 2015 131

R.101 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 1484.0 1563.1 1181.6 1669.3 1756.8 547.1 1426.0 1034.1 1426.8 911.1 1

 2 Net investment 392.0 572.8 486.3 510.6 405.1 615.7 446.8 533.7 545.3 508.3 2

 3 Net physical investment 190.8 228.4 232.4 240.9 226.6 189.7 136.5 182.6 216.2 261.3 3

 4 Capital expenditures 537.4 608.8 647.7 687.5 707.2 700.6 672.8 737.5 803.0 881.9 4

 5 - Consumption of fixed capital 346.6 380.4 415.2 446.6 480.6 510.9 536.3 554.9 586.8 620.6 5

 6 Net lending (+) or net borrowing (-) 201.2 344.3 253.9 269.7 178.5 426.1 310.2 351.2 329.1 247.0 6

 7 Net acquisition of financial assets 534.7 611.5 507.0 546.5 470.9 665.3 518.8 559.8 597.8 576.0 7

 8 - Net increase in liabilities 333.5 267.2 253.2 276.8 292.4 239.2 208.6 208.6 268.7 329.0 8

 Holding gains on assets

 9 at market value (2) 1024.8 904.5 627.6 1064.8 1239.2 -96.3 954.0 453.0 824.7 308.2 9

 10 Real estate 513.5 370.4 355.8 439.9 448.1 45.8 39.5 136.1 124.8 164.6 10

 11 Corporate equities 348.7 387.1 112.3 416.4 500.8 -132.3 851.8 307.8 461.5 2.5 11

 12 Mutual fund shares 27.3 25.6 -11.4 16.3 46.6 -29.8 30.9 21.1 71.1 -4.6 12

 13 Equity in noncorporate business 84.2 105.2 141.9 175.9 156.6 35.9 -67.9 -43.4 94.8 168.8 13

 14 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Pension entitlements 51.0 16.2 29.0 16.4 87.1 -15.8 99.8 31.4 72.6 -23.1 15

 16 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Holding gains on assets

 17 at current cost (2) 14.6 38.0 31.0 45.2 30.3 37.1 39.1 20.1 34.9 28.8 17

 18 Consumer durable goods 14.2 36.6 29.5 43.6 29.0 35.5 38.9 19.6 35.0 28.3 18

 19 Equipment 0.3 1.4 1.1 1.0 0.9 1.3 -0.1 0.3 -0.3 -0.2 19

 20 Intellectual property products 0.1 0.0 0.5 0.6 0.4 0.3 0.3 0.2 0.1 0.7 20

 21 Other volume changes (3) 52.6 47.8 36.7 48.7 82.1 -9.5 -13.9 27.3 22.0 65.7 21

 Memo:

 22 Net worth outstanding (4) 15277.2 16840.3 18021.9 19691.1 21447.9 21995.0 23420.9 24455.0 25881.8 26792.8 22

 23 Disposable personal income 3098.5 3287.9 3466.3 3770.4 4052.1 4311.8 4484.5 4800.3 5000.2 5244.2 23

(1) Sum of net investment (line 2), holding gains (lines 9 and 17), and other volume changes (line 21).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.101, line 42.
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132 Historical Annuals, 1985-1994, March 12, 2015

R.103 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 127.3 162.0 247.3 339.6 202.2 65.2 -129.8 -269.0 200.8 431.7 1

 2 Net investment -98.8 -29.3 16.2 -77.8 -135.4 27.1 130.1 129.5 287.6 196.6 2

 3 Net physical investment 150.1 112.8 136.0 144.7 154.7 149.4 96.3 118.2 152.1 210.5 3

 4 Capital expenditures 449.0 437.6 454.3 480.0 518.2 539.3 525.3 552.7 604.7 681.5 4

 5 - Consumption of fixed capital 298.9 317.7 334.5 357.5 379.8 402.7 424.2 437.3 456.7 483.5 5

 6 - Inventory valuation adjustment 0.0 7.1 -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 6

 7 Net lending (+) or net borrowing (-) -164.4 -57.2 -44.3 -93.0 -166.0 -59.3 15.6 -15.7 114.2 31.0 7

 8 Net acquisition of financial assets 213.0 131.4 228.8 350.3 181.3 124.5 83.0 145.7 332.7 273.6 8

 9 - Net increase in liabilities 377.4 188.6 273.1 443.3 347.3 183.8 67.4 161.4 218.5 242.6 9

 10 Net corporate equity issues -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 10

 Holding gains on assets

 11 at market value (2) 47.7 38.9 92.7 147.4 101.5 -82.7 -270.9 -286.9 -51.2 136.1 11

 12 Real estate 47.8 37.7 92.9 146.9 98.9 -81.7 -273.6 -288.2 -53.0 136.9 12

 13 Mutual fund shares -0.1 1.1 -0.2 0.5 2.5 -1.0 2.7 1.3 1.8 -0.8 13

 Holding gains on assets less

 14 liabilities at current cost (2) 31.5 41.7 92.4 78.2 50.8 102.9 11.7 0.7 7.6 58.1 14

 15 Equipment 27.7 39.4 37.2 51.0 47.7 59.1 23.7 18.7 19.1 28.5 15

 16 Intellectual property products 6.4 5.7 14.4 13.0 12.9 12.3 12.0 9.4 7.5 17.7 16

 17 Inventories (3) -3.8 -6.1 9.0 11.6 1.0 8.4 -10.7 2.7 3.5 10.9 17

 18 Direct investment abroad 3.0 6.1 30.6 10.3 -12.9 22.6 -14.0 -33.8 -26.6 -0.1 18

 19 - Foreign direct investment in U.S. 1.8 3.3 -1.2 7.8 -2.1 -0.5 -0.6 -3.6 -4.0 -1.0 19

 20 Other volume changes (4) 146.8 110.8 45.9 191.8 185.4 18.0 -0.7 -112.3 -43.2 40.9 20

 Memo:

 21 Net worth outstanding (5) 4482.0 4644.0 4891.2 5230.8 5433.0 5498.3 5368.4 5099.4 5300.2 5731.9 21

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 36.
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Historical Annuals, 1985-1994, March 12, 2015 133

R.104 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Change in net worth (1) 63.5 117.1 113.8 142.1 119.8 56.9 -41.6 -18.2 138.3 206.2 1

 2 Net capital transfers paid 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 2

 3 Net investment -19.6 -9.7 -27.5 -33.5 -34.1 21.1 27.0 31.4 45.1 49.3 3

 4 Net physical investment 48.9 40.5 35.7 27.8 35.7 17.6 -4.2 -0.8 1.7 26.2 4

 5 Capital expenditures 130.9 127.3 127.4 125.1 138.6 124.5 105.1 109.3 114.6 143.1 5

 6 - Consumption of fixed capital 82.0 86.8 91.7 97.3 102.9 106.9 109.3 110.1 112.9 116.9 6

 7 Net lending (+) or net borrowing (-) -48.9 -40.5 -35.7 -27.8 -35.3 -17.6 4.3 2.6 -1.4 -22.0 7

 8 Net acquisition of financial assets 33.9 26.1 -5.4 50.9 8.0 1.8 8.0 26.6 27.6 62.4 8

 9 - Net increase in liabilities 82.8 66.6 30.3 78.7 43.4 19.4 3.7 24.0 29.0 84.5 9

 10 Proprietor’s net investment (2) -19.6 -9.7 -27.5 -33.5 -34.5 21.1 26.9 29.6 44.8 45.1 10

 11 Holding gains on real estate (3) 84.4 101.6 118.0 146.8 137.4 13.2 -72.1 -64.2 78.7 153.9 11

 12 Residential 114.0 111.7 66.3 82.9 72.0 19.0 3.5 6.4 62.5 92.4 12

 13 Nonresidential -29.6 -10.1 51.6 63.9 65.4 -5.8 -75.6 -70.6 16.2 61.5 13

 14 Holding gains on assets at current cost (3) -0.8 3.1 23.4 28.8 18.0 22.7 3.8 18.6 15.4 10.7 14

 15 Residential equipment -0.2 0.3 0.2 0.4 0.2 0.1 -0.3 0.0 0.5 0.5 15

 16 Nonresidential equipment 6.3 11.9 7.0 14.3 14.8 13.0 13.5 15.8 11.9 15.2 16

 17 Intellectual property products 0.4 0.4 1.3 1.2 1.4 1.6 1.3 1.1 1.3 1.7 17

 18 Inventories -7.1 -10.5 9.2 15.5 2.5 2.4 -10.6 2.0 2.5 -7.1 18

 19 - Foreign direct investment in U.S. 0.2 -1.0 -5.6 2.5 0.9 -5.6 0.1 0.3 0.8 -0.4 19

 20 Other volume changes (4) -0.4 22.1 -0.0 0.0 -1.2 -0.1 -0.2 -2.3 -0.6 -3.6 20

 Memo:

 21 Net worth outstanding (5) 2503.0 2620.2 2733.9 2876.0 2995.8 3052.7 3011.1 2992.9 3131.2 3337.5 21

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Shown on table F.104, line 31.

(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.104, line 34.
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134 Historical Annuals, 1985-1994, March 12, 2015

B.101.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Assets 17639.4 19467.6 20857.1 22827.7 24869.4 25684.8 27322.9 28565.7 30263.6 31503.0 1

 2 Nonfinancial assets 6784.2 7422.7 8042.7 8764.3 9464.6 9733.0 9946.2 10274.0 10645.7 11092.4 2

 3 Financial assets 10855.2 12045.0 12814.4 14063.5 15404.7 15951.8 17376.8 18291.7 19617.9 20410.6 3

 4 Deposits 2643.7 2919.0 3079.0 3282.6 3449.2 3527.5 3519.0 3362.2 3288.7 3245.8 4

 5 Credit market instruments 953.5 988.2 1162.2 1404.9 1498.4 1749.0 1812.1 1879.1 1989.1 2388.6 5

 6 Equity shares at market value 1543.9 1853.5 1882.0 2187.9 2712.5 2493.9 3489.8 3973.6 4626.9 4594.3 6

 7 Directly held 1229.5 1494.0 1462.6 1756.7 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 7

 8 Indirectly held 314.4 359.4 419.4 431.2 565.0 532.6 730.6 879.4 1189.9 1300.1 8

 9 Life insurance companies 33.3 38.3 44.0 45.7 59.3 57.8 93.8 113.3 163.5 199.6 9

 10 Private pension funds (1) 171.2 165.1 201.5 205.7 268.7 260.8 353.7 415.6 508.1 538.1 10

 11 Federal govt. retirement funds (1) 0.0 0.0 0.0 0.0 0.1 0.3 1.0 2.4 4.4 6.2 11

 12 State and local govt. retirement funds (1) 11.0 12.9 13.4 15.2 19.0 17.5 23.1 24.9 29.0 29.6 12

 13 Mutual funds 98.9 143.2 160.6 164.6 218.0 196.1 259.0 323.2 484.9 526.7 13

 14 Other 5714.2 6284.2 6691.1 7188.1 7744.7 8181.3 8555.9 9076.8 9713.2 10181.8 14

 15 Liabilities 2362.2 2627.4 2835.2 3136.6 3421.5 3689.9 3902.0 4110.7 4381.8 4710.1 15

 16 Net worth 15277.2 16840.3 18021.9 19691.1 21447.9 21995.0 23420.9 24455.0 25881.8 26792.8 16

 Memo:

 Equity shares (line 6) as a percent of

 17 Total assets (line 1) 8.8 9.5 9.0 9.6 10.9 9.7 12.8 13.9 15.3 14.6 17

 18 Financial assets (line 3) 14.2 15.4 14.7 15.6 17.6 15.6 20.1 21.7 23.6 22.5 18

(1) Defined contribution plans. Assets held by defined benefit pension funds are not considered assets of the household sector. Defined benefit pension entitlements are included in line 14.
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Historical Annuals, 1985-1994, March 12, 2015 135

S.1.a Total Economy - Current Account

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross value added 4295.5 4513.4 4829.7 5253.1 5593.5 5888.2 6085.7 6428.4 6726.4 7171.9 1

 (income approach)

 2 Less: Consumption of fixed capital 636.7 682.2 728.0 782.4 836.1 886.8 931.1 959.7 1003.6 1055.6 2

 3 Equals: Net value added 3658.8 3831.2 4101.7 4470.7 4757.4 5001.4 5154.5 5468.7 5722.8 6116.4 3

 4 Compensation of employees (paid) 2389.2 2545.6 2725.7 2950.9 3143.9 3345.0 3454.7 3674.1 3824.0 4014.1 4

 5 Wages and salaries 1982.8 2104.1 2257.6 2440.6 2584.3 2743.5 2817.2 2968.5 3082.7 3240.6 5

 6 Employers’ social contributions 406.4 441.5 468.0 510.3 559.5 601.5 637.5 705.6 741.3 773.5 6

 7 Taxes on production and imports less subsidies 286.8 298.5 317.3 345.0 371.4 398.0 429.6 453.3 466.4 512.7 7

 8 Operating surplus, net 982.9 987.1 1058.8 1174.8 1242.1 1258.4 1270.2 1341.3 1432.4 1589.5 8

 9 Plus: Income receipts from the rest of the world 112.7 111.3 123.3 152.1 177.7 188.8 168.4 152.1 155.6 184.5 9

10 Less: Income payments to the rest of the world 87.3 94.4 105.8 129.5 152.9 154.2 136.8 121.0 123.6 160.7 10

11 Equals: Net national income/Balance of primary incomes, net 3684.2 3848.2 4119.2 4493.4 4782.2 5036.1 5186.1 5499.7 5754.8 6140.2 11

12 Operating surplus, net 982.9 987.1 1058.8 1174.8 1242.1 1258.4 1270.2 1341.3 1432.4 1589.5 12

13 Compensation of employees (received) 2389.0 2543.8 2724.3 2950.0 3142.6 3342.7 3452.0 3671.1 3820.7 4010.1 13

14 Wages and salaries 1982.6 2102.3 2256.3 2439.8 2583.1 2741.2 2814.5 2965.5 3079.3 3236.6 14

15 Employers’ social contributions 406.4 441.5 468.0 510.3 559.5 601.5 637.5 705.6 741.3 773.5 15

16 Taxes on production and imports, receivable 308.1 323.4 347.5 374.5 398.9 425.0 457.1 483.4 503.1 545.2 16

17 Subsidies paid -21.4 -24.9 -30.3 -29.5 -27.4 -27.0 -27.5 -30.1 -36.7 -32.5 17

18 Property income (received) 2010.6 2116.0 2240.9 2485.0 2801.1 2889.4 2826.2 2774.7 2801.0 2974.1 18

19 Interest 1544.7 1629.0 1710.2 1879.4 2148.3 2198.4 2120.4 1996.6 1955.3 2055.3 19

20 Distributed income of corporations 430.1 456.7 491.4 571.9 618.1 646.2 663.5 736.3 787.9 865.8 20

21 Dividends 156.5 170.0 176.0 218.5 249.5 261.5 272.6 291.0 308.2 353.2 21

22 Withdrawals from income of quasi-corporations 273.6 286.7 315.4 353.4 368.6 384.7 390.9 445.3 479.8 512.7 22

23 Reinvested earnings on U.S. direct investment abroad 25.8 20.8 31.0 26.5 27.6 37.3 34.0 33.6 49.5 44.9 23

24 Rents on land and natural resources 9.9 9.5 8.4 7.3 7.1 7.6 8.3 8.2 8.3 8.1 24

25 Less: Uses of property income (paid) 1985.0 2097.3 2222.1 2461.5 2775.0 2852.5 2791.9 2740.7 2765.7 2946.3 25

26 Interest 1557.3 1649.7 1739.3 1912.9 2189.4 2237.4 2162.6 2035.6 1996.9 2105.4 26

27 Distributed income of corporations 418.3 438.8 474.7 540.0 586.5 621.2 639.1 708.2 767.4 827.7 27

28 Dividends 144.7 152.1 159.3 186.6 217.9 236.5 248.3 262.9 287.6 315.0 28

29 Withdrawals from income of quasi-corporations 273.6 286.7 315.4 353.4 368.6 384.7 390.9 445.3 479.8 512.7 29

30 Reinvested earnings on foreign direct investment -0.5 -0.7 -0.3 1.4 -7.9 -13.9 -18.1 -11.4 -6.9 5.1 30

31 Rents on land and natural resources 9.9 9.5 8.4 7.3 7.1 7.6 8.3 8.2 8.3 8.1 31

32 Net national income/Balance of primary incomes, net 3684.2 3848.2 4119.2 4493.4 4782.2 5036.1 5186.1 5499.7 5754.8 6140.2 32

33 Plus: Current taxes on income, wealth, etc. (received) 515.8 545.4 618.2 644.5 710.3 736.3 722.8 756.3 814.6 880.3 33

34 Less: Current taxes on income, wealth, etc. (paid) 516.7 546.9 619.5 646.6 712.2 738.1 725.2 759.2 817.6 883.6 34

35 Plus: Social benefits (received) 685.4 732.9 772.0 839.0 906.4 984.8 1080.5 1186.6 1256.4 1323.8 35

36 Less: Social contributions (paid) 688.0 735.9 774.8 841.9 909.8 989.0 1084.7 1190.7 1260.3 1328.1 36

37 Plus: Other current transfers (received) 120.7 130.3 124.9 133.3 146.6 161.9 185.5 207.5 224.0 238.9 37

38 Less: Other current transfers (paid) 142.7 153.7 147.6 157.3 171.7 187.6 173.9 242.4 262.4 277.3 38

39 Equals: Disposable income, net 3658.5 3820.4 4092.4 4464.4 4751.8 5004.4 5191.0 5457.8 5709.4 6094.2 39

40 Less: Final consumption expenditures 3411.2 3634.8 3868.2 4166.7 4474.3 4773.6 4964.2 5264.9 5545.2 5850.6 40

41 Equals: Net saving 247.3 185.7 224.2 297.7 277.5 230.7 226.8 192.9 164.3 243.6 41

 Addendum:

42 Gross value added (line 1) 4295.5 4513.4 4829.7 5253.1 5593.5 5888.2 6085.7 6428.4 6726.4 7171.9 42

43 Plus statistical discrepancy (NIPA) 51.3 76.7 40.6 -0.5 64.2 91.3 88.4 110.9 152.3 136.8 43

44 Equals: GDP (NIPA, expenditure approach) 4346.7 4590.2 4870.2 5252.6 5657.7 5979.6 6174.1 6539.3 6878.7 7308.8 44
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 1 Gross value added 4295.5 4513.4 4829.7 5253.1 5593.5 5888.2 6085.7 6428.4 6726.4 7171.9 1

 2 Households and nonprofit institutions serving households 415.8 451.6 495.3 546.8 592.4 642.5 683.9 728.7 781.1 832.4 2

 3 Nonfinancial noncorporate business 630.4 664.6 695.8 760.4 813.4 852.1 862.7 921.5 950.4 1008.5 3

 4 Nonfinancial corporate business 2369.5 2465.3 2642.5 2874.5 3020.8 3161.2 3231.8 3377.1 3535.3 3816.5 4

 5 Financial business 257.4 269.9 292.8 312.5 349.1 354.9 370.7 410.6 436.9 454.8 5

 6 Federal government 267.2 279.5 291.9 313.3 329.7 344.6 367.4 378.8 379.4 382.9 6

 7 State and local government 355.2 382.5 411.4 445.5 488.1 532.9 569.2 611.7 643.4 676.7 7

 8 Net saving 247.3 185.7 224.2 297.7 277.5 230.7 226.8 192.9 164.3 243.6 8

 9 Households and nonprofit institutions serving households 265.1 269.4 252.1 294.7 316.5 335.4 365.9 426.0 367.6 331.4 9

10 Nonfinancial corporate business 152.0 100.8 117.5 130.9 99.8 91.8 100.9 97.4 131.6 173.8 10

11 Financial business 5.5 7.7 5.8 12.4 10.4 10.8 31.4 39.6 14.1 19.0 11

12 Federal government -195.6 -212.7 -163.2 -157.3 -156.6 -200.9 -246.2 -332.7 -311.8 -253.7 12

13 State and local government 20.3 20.4 12.1 17.0 7.4 -6.5 -25.1 -37.5 -37.2 -27.0 13

 Net capital transfers

14 Households and nonprofit institutions serving households 8.9 10.0 10.6 11.1 10.8 15.8 14.5 5.7 16.6 15.5 14

15 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 15

16 Nonfinancial corporate business -0.0 0.0 0.0 0.0 -1.2 0.0 0.0 -7.0 -0.6 -3.3 16

17 Financial business 0.0 0.0 0.0 0.0 3.2 0.0 1.3 17.4 2.0 12.2 17

18 Federal government 13.2 13.1 11.9 12.1 11.3 16.6 15.5 11.3 11.4 10.9 18

19 State and local government -22.0 -23.0 -22.3 -23.1 -23.4 -25.0 -25.8 -26.9 -28.2 -29.9 19

20 Rest of the world -0.1 -0.1 -0.1 -0.1 -0.3 -7.4 -5.3 1.3 -0.8 -1.2 20

21 Gross fixed capital formation 1027.7 1080.7 1119.7 1176.9 1242.4 1269.3 1238.8 1292.8 1377.9 1486.9 21

22 Households and nonprofit institutions serving households 185.3 215.1 235.5 249.0 251.1 239.9 230.7 265.3 291.0 326.0 22

23 Nonfinancial noncorporate business 126.4 130.1 133.8 136.9 139.8 123.3 107.9 105.0 121.0 130.9 23

24 Nonfinancial corporate business 431.1 426.2 421.4 450.6 489.9 526.8 524.9 545.1 584.4 638.9 24

25 Financial business (nonresidential) 65.1 71.1 74.3 81.9 91.3 88.9 81.3 81.3 89.6 96.9 25

26 Federal government 132.5 141.9 152.4 148.0 151.2 158.2 156.8 156.4 150.7 145.4 26

27 State and local government 87.3 96.2 102.2 110.4 119.2 132.2 137.3 139.7 141.2 148.8 27

28 Consumption of fixed capital 636.7 682.2 728.0 782.4 836.1 886.8 931.1 959.7 1003.6 1055.6 28

29 Households and nonprofit institutions serving households 86.2 93.4 101.8 109.9 118.2 125.1 130.6 136.3 145.7 155.3 29

30 Nonfinancial noncorporate business 81.0 85.7 90.5 96.0 101.5 105.4 107.6 108.5 111.3 115.2 30

31 Nonfinancial corporate business 299.0 317.9 334.7 357.7 380.1 403.0 424.5 437.8 457.9 484.8 31

32 Financial business (nonresidential) 30.3 34.5 39.3 44.7 50.3 55.5 59.7 61.6 65.0 69.0 32

33 Federal government 93.3 100.3 107.5 116.3 124.2 131.1 137.9 141.4 145.3 148.3 33

34 State and local government 46.9 50.3 54.1 57.8 61.9 66.7 70.9 74.1 78.3 82.9 34

35 Change in inventories 21.8 6.6 27.1 18.5 27.7 14.5 -0.4 16.3 20.8 63.8 35

36 Nonfinancial noncorporate business 6.1 -1.0 -4.3 -9.5 1.5 2.9 -1.1 6.4 -4.1 13.9 36

37 Nonfinancial corporate business 15.7 7.5 31.4 27.9 26.2 11.7 0.7 10.0 24.9 49.9 37

38 Net lending (+) or net borrowing (-) (capital account) -165.7 -219.5 -194.8 -115.4 -156.9 -173.6 -85.8 -155.2 -231.7 -252.8 38

39 Households and nonprofit institutions serving households 159.6 140.6 111.0 147.9 176.7 209.2 255.6 295.6 210.1 149.8 39

40 Nonfinancial noncorporate business -51.5 -43.5 -39.1 -31.4 -39.4 -20.8 1.0 -1.0 -5.3 -25.4 40

41 Nonfinancial corporate business 3.4 -17.3 -0.1 10.9 -34.7 -43.0 1.5 -11.2 -17.5 -25.2 41

42 Financial business -29.3 -28.9 -29.2 -24.8 -33.9 -22.6 8.5 2.6 -12.5 -21.1 42

43 Federal government -246.8 -264.3 -219.5 -201.0 -194.3 -243.8 -280.8 -359.1 -328.8 -261.7 43

44 State and local government -1.3 -6.1 -17.9 -16.9 -31.4 -52.7 -71.6 -82.0 -77.7 -69.1 44

 Addendum:

45 Statistical discrepancy (NIPA) 51.3 76.7 40.6 -0.5 64.2 91.3 88.4 110.9 152.3 136.8 45

46 Rest of the world 114.4 142.8 154.2 115.9 92.7 82.3 -2.6 44.3 79.4 116.0 46

47 Net lending (+) or net borrowing (-) (financial account) -267.8 -8.6 -27.6 -118.2 -204.3 105.0 3.1 -119.1 76.7 -31.1 47

48 Households and nonprofit institutions serving households 201.2 344.3 253.9 269.7 178.5 426.1 310.2 351.2 329.1 247.0 48

49 Nonfinancial noncorporate business -48.9 -40.5 -35.7 -27.8 -35.3 -17.6 4.3 2.6 -1.4 -22.0 49

50 Nonfinancial corporate business -164.4 -57.2 -44.3 -93.0 -166.0 -59.3 15.6 -15.7 114.2 31.0 50

51 Financial business -6.7 13.5 19.2 2.0 54.9 15.4 40.4 -10.1 63.8 -19.5 51

52 Federal government -266.0 -291.5 -222.4 -242.0 -231.5 -226.5 -296.2 -393.4 -342.0 -266.0 52

53 State and local government 17.0 22.7 1.8 -27.0 -4.9 -33.0 -71.4 -53.6 -87.0 -1.6 53

 Addendum:

54 Rest of the world 81.6 109.7 137.3 147.9 44.5 58.5 0.7 89.9 68.2 123.1 54

 Total other volume changes

55 Households and nonprofit institutions serving households 188.4 361.2 281.5 275.6 181.5 286.5 81.5 140.7 216.2 258.1 55

56 Nonfinancial noncorporate business -20.0 12.4 -27.5 -33.5 -36.0 21.0 26.5 25.5 43.8 37.4 56

57 Nonfinancial corporate business -19.5 65.6 20.1 112.5 73.1 16.3 10.3 -114.2 90.9 105.3 57

58 Financial business -47.6 15.4 80.9 37.9 -72.5 29.4 -185.0 -81.9 -6.5 -87.3 58

59 Federal government -6.4 -22.0 -13.2 -38.9 -22.9 6.1 -1.5 -35.9 8.2 5.9 59

60 State and local government 20.9 32.5 9.1 16.4 2.2 1.1 68.7 -65.3 41.3 53.1 60

61 Rest of the world -144.7 -33.1 -16.9 32.1 -48.2 -23.8 6.5 148.7 -11.2 13.3 61

 Holding gains/losses

62 Households and nonprofit institutions serving households 1039.4 942.5 658.6 1110.0 1269.6 -59.2 993.0 473.1 859.5 337.0 62

63 Nonfinancial noncorporate business 83.8 103.8 135.7 178.2 156.3 30.4 -68.2 -45.2 95.0 164.3 63

64 Nonfinancial corporate business -368.9 -328.4 63.9 -175.3 -552.4 139.9 -1283.7 -621.9 -503.4 194.8 64

65 Financial business 11.2 -8.8 42.6 -28.1 85.2 88.4 39.0 -38.1 1.9 57.5 65

66 Federal government 13.1 21.0 18.9 51.0 46.8 39.1 40.6 42.4 46.0 70.9 66

67 State and local government 44.5 82.1 73.5 52.3 69.4 60.4 16.4 53.7 79.5 116.8 67

68 Rest of the world 20.2 -6.0 -120.0 -57.2 34.9 -72.9 23.7 25.4 -174.1 -144.9 68
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Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Change in net worth

69 Households and nonprofit institutions serving households 1484.0 1563.1 1181.6 1669.3 1756.8 547.1 1426.0 1034.1 1426.8 911.1 69

70 Nonfinancial noncorporate business 63.5 117.1 113.8 142.1 119.8 56.9 -41.6 -18.2 138.3 206.2 70

71 Nonfinancial corporate business -236.3 -161.9 201.4 68.2 -378.3 248.0 -1172.5 -631.7 -280.4 477.2 71

72 Financial business -30.9 14.2 129.3 22.2 19.9 128.7 -115.9 -97.7 7.5 -23.0 72

73 Federal government -202.1 -226.8 -169.3 -157.4 -144.0 -172.3 -222.6 -337.5 -269.0 -187.9 73

74 State and local government 107.6 158.0 117.0 108.8 102.4 80.0 85.8 -22.3 111.9 172.8 74

75 Rest of the world -10.0 103.7 17.3 90.8 79.4 -14.5 27.6 218.5 -105.9 -15.6 75
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138 Historical Annuals, 1985-1994, March 12, 2015

S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 415.8 451.6 495.3 546.8 592.4 642.5 683.9 728.7 781.1 832.4 1

 2 Less: Consumption of fixed capital 86.2 93.4 101.8 109.9 118.2 125.1 130.6 136.3 145.7 155.3 2

 3 Equals: Net value added 329.6 358.2 393.5 436.9 474.2 517.3 553.4 592.4 635.3 677.2 3

 4 Compensation paid by households and NPISHs 139.5 152.1 171.0 193.1 211.7 233.7 252.4 273.0 291.4 307.6 4

 5 Wages and salaries 121.8 132.6 149.1 169.4 184.7 203.1 218.3 234.8 250.3 264.3 5

 6 Employers’ social contributions 17.7 19.5 21.9 23.7 27.0 30.6 34.1 38.2 41.1 43.3 6

 7 Taxes on production and imports less subsidies 46.7 49.5 54.1 57.7 62.5 66.5 71.5 73.9 73.8 77.2 7

 8 Operating surplus, net 143.4 156.5 168.4 186.1 199.9 217.2 229.5 245.5 270.2 292.4 8

 9 Net national income/Balance of primary incomes, net 3280.1 3479.5 3713.5 4037.9 4345.2 4598.8 4713.1 5000.5 5219.0 5496.3 9

10 Operating surplus, net 143.4 156.5 168.4 186.1 199.9 217.2 229.5 245.5 270.2 292.4 10

11 Compensation of employees (received) 2389.0 2543.8 2724.3 2950.0 3142.6 3342.7 3452.0 3671.1 3820.7 4010.1 11

12 Wages and salaries 1982.6 2102.3 2256.3 2439.8 2583.1 2741.2 2814.5 2965.5 3079.3 3236.6 12

13 Employers’ social contributions 406.4 441.5 468.0 510.3 559.5 601.5 637.5 705.6 741.3 773.5 13

14 Property income (received) 986.9 1042.6 1095.8 1193.4 1321.2 1376.6 1377.1 1428.2 1469.3 1543.0 14

15 Interest 615.9 649.8 668.3 710.2 794.8 823.1 806.0 793.9 784.8 795.1 15

16 Distributed income of corporations 371.0 392.7 427.5 483.2 526.4 553.5 571.1 634.4 684.5 747.9 16

17 Dividends 97.4 106.0 112.2 129.7 157.8 168.8 180.2 189.1 204.7 235.2 17

18 Withdrawals from income of quasi-corporations (1) 273.6 286.7 315.4 353.4 368.6 384.7 390.9 445.3 479.8 512.7 18

19 Less: Uses of property income (interest paid) 239.2 263.4 275.0 291.6 318.5 337.6 345.5 344.5 341.1 349.2 19

20 Net national income/Balance of primary incomes, net 3280.1 3479.5 3713.5 4037.9 4345.2 4598.8 4713.1 5000.5 5219.0 5496.3 20

21 Less: Current taxes on income, wealth, etc. (paid) 417.3 437.2 489.1 504.9 566.1 592.7 586.6 610.5 646.5 690.5 21

22 Plus: Social benefits (received) 402.6 428.0 447.4 475.9 519.4 572.7 648.2 729.5 776.7 813.1 22

23 Less: Social contributions (paid) 281.4 303.4 323.1 361.5 385.2 410.1 430.2 455.0 477.4 508.2 23

24 Plus: Other current transfers (received) 22.3 22.9 20.2 20.6 23.2 22.2 17.6 16.3 14.1 13.3 24

25 Less: Other current transfers (paid) 18.5 22.1 24.8 26.3 27.1 29.8 36.1 39.1 47.2 51.6 25

26 Equals: Disposable income, net 2987.8 3167.8 3344.1 3641.6 3909.3 4161.1 4326.0 4641.7 4838.6 5072.4 26

27 Less: Final consumption expenditures 2722.7 2898.4 3092.1 3346.9 3592.8 3825.6 3960.2 4215.7 4471.0 4741.0 27

28 Equals: Net saving 265.1 269.4 252.1 294.7 316.5 335.4 365.9 426.0 367.6 331.4 28

 Capital account

29 Net saving less capital transfers 256.2 259.3 241.5 283.6 305.7 319.7 351.4 420.3 351.1 316.0 29

30 Net saving 265.1 269.4 252.1 294.7 316.5 335.4 365.9 426.0 367.6 331.4 30

31 Less: Capital transfers paid (net) 8.9 10.0 10.6 11.1 10.8 15.8 14.5 5.7 16.6 15.5 31

32 Capital formation, net 96.6 118.8 130.5 135.7 129.0 110.5 95.8 124.8 141.0 166.1 32

33 Gross fixed capital formation, excluding consumer durables 185.3 215.1 235.5 249.0 251.1 239.9 230.7 265.3 291.0 326.0 33

34 Residential 157.1 184.4 200.2 210.8 209.1 194.7 183.4 215.9 242.9 277.0 34

35 Nonresidential (nonprofit organizations) 28.2 30.6 35.3 38.2 41.9 45.2 47.3 49.4 48.1 49.0 35

36 Less: Consumption of fixed capital 86.2 93.4 101.8 109.9 118.2 125.1 130.6 136.3 145.7 155.3 36

37 Acquisition of nonproduced nonfinancial assets -2.5 -2.9 -3.2 -3.4 -3.8 -4.3 -4.3 -4.3 -4.3 -4.5 37

38 Net lending (+) or borrowing (-), capital account (lines 29-32) 159.6 140.6 111.0 147.9 176.7 209.2 255.6 295.6 210.1 149.8 38

 Financial account

39 Net lending (+) or borrowing (-) (line 38) 159.6 140.6 111.0 147.9 176.7 209.2 255.6 295.6 210.1 149.8 39

40 Net acquisition of financial assets 534.7 611.5 507.0 546.5 470.9 665.3 518.8 559.8 597.8 576.0 40

41 Currency and deposits 156.2 240.5 146.2 167.8 88.0 40.1 -26.8 -2.3 -72.8 -52.6 41

42 Currency and transferable deposits 17.8 117.1 -0.7 -0.4 1.7 -11.4 54.2 111.4 51.1 -31.2 42

43 Time and savings deposits 137.6 122.6 147.0 167.3 85.6 50.1 -82.1 -114.9 -122.7 -24.6 43

44 Foreign deposits 0.8 0.8 -0.1 0.9 0.8 1.4 1.0 1.2 -1.1 3.1 44

45 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Debt securities 145.0 46.0 177.1 181.3 90.6 219.4 79.6 48.8 89.1 333.1 46

47 Open market paper -9.2 -0.3 -0.8 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 47

48 Treasury securities 11.6 -2.4 33.5 78.5 41.9 96.6 25.1 83.3 49.3 170.0 48

49 Agency- and GSE-backed securities (2) -7.7 1.7 7.1 19.6 21.2 35.3 6.4 1.7 -56.8 110.3 49

50 Municipal securities 103.6 15.2 105.6 56.8 27.9 34.7 54.7 -28.3 -29.8 -46.5 50

51 Corporate and foreign bonds 46.5 31.9 31.7 -11.8 5.4 47.0 28.7 -2.0 114.0 94.5 51

52 Loans 26.1 5.7 -4.4 6.2 19.1 19.6 32.3 -15.9 19.3 -5.1 52

53 Short term 21.9 9.2 -18.8 4.0 10.2 9.6 30.6 -9.9 26.8 3.4 53

54 Long term (mortgages) 4.3 -3.6 14.4 2.3 8.9 10.0 1.7 -6.0 -7.5 -8.5 54
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

55 Equity and investment fund shares -66.5 50.2 -92.2 -140.4 -40.8 39.4 94.4 148.0 152.5 -88.5 55

56 Corporate equities -130.1 -122.6 -143.8 -122.3 -110.1 -50.8 -53.9 27.2 -118.7 -145.3 56

57 Mutual fund shares 79.7 139.4 59.0 -1.7 27.3 31.5 102.7 133.3 227.5 3.2 57

58 Money market fund shares 3.3 41.9 20.8 17.0 78.1 38.3 18.3 -42.2 -2.1 9.6 58

59 Equity in noncorporate business -19.5 -8.5 -28.3 -33.4 -36.2 20.4 27.3 29.7 45.7 44.0 59

60 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 60

61 Insurance, pension and standardized guarantee schemes 273.9 269.2 280.4 331.6 314.0 346.8 339.4 381.3 409.7 389.1 61

62 Insurance receivables due from property-casualty insurance companies 27.2 16.7 23.0 14.7 11.8 14.4 4.8 9.8 5.7 6.6 62

63 Life insurance reserves 11.5 18.3 26.9 26.1 29.6 26.5 26.8 29.1 37.1 35.5 63

64 Pension entitlements (4) 231.0 230.1 225.1 284.5 267.3 300.3 301.8 333.8 359.3 338.9 64

65 Non-life insurance reserves at life insurance companies 4.1 4.1 5.3 6.3 5.3 5.6 5.9 8.5 7.6 8.1 65

66 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 66

67 Net incurrence of liabilities 333.5 267.2 253.2 276.8 292.4 239.2 208.6 208.6 268.7 329.0 67

68 Debt securities (municipals) 30.2 -3.0 -0.3 1.5 3.2 3.0 3.8 2.4 1.1 3.2 68

69 Loans 300.1 269.2 247.6 272.5 272.2 226.8 196.1 200.4 261.2 320.1 69

70 Short term 115.2 65.2 19.6 52.5 40.1 19.6 13.0 20.8 94.2 154.5 70

71 Consumer credit 84.0 55.8 32.3 46.6 47.0 15.1 -8.8 9.2 61.4 135.0 71

72 Depository institution loans n.e.c. 5.4 -1.5 0.4 0.4 -9.5 0.9 -1.9 7.0 8.8 9.4 72

73 Other loans and advances 6.9 4.3 3.3 3.8 3.6 7.3 7.4 6.2 1.3 11.1 73

74 Security credit 18.9 6.7 -16.3 1.7 -1.0 -3.7 16.3 -1.6 22.6 -1.1 74

75 Long term (mortgages) 184.9 204.0 227.9 220.0 232.1 207.2 183.1 179.6 167.0 165.7 75

76 Insurance, pension and standardized guarantee schemes 0.1 -1.3 1.2 0.4 0.8 0.1 -0.7 0.0 0.5 0.5 76

77 Other accounts payable (trade debt) 3.1 2.3 4.7 2.4 16.2 9.3 9.4 5.9 6.0 5.2 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 40-67) 201.2 344.3 253.9 269.7 178.5 426.1 310.2 351.2 329.1 247.0 78

 Other changes in volume account

79 Total other volume changes 188.4 361.2 281.5 275.6 181.5 286.5 81.5 140.7 216.2 258.1 79

80 Net investment in consumer durable goods 93.3 108.7 100.9 104.1 96.3 77.9 39.4 56.4 73.8 93.7 80

81 Disaster losses -1.2 0.0 0.0 0.0 -3.3 0.0 -1.2 -9.8 -1.6 -4.8 81

82 Other volume changes 54.7 48.8 37.7 49.8 86.6 -8.2 -11.3 38.5 25.1 72.0 82

83 Less: Statistical discrepancy (lines 38-78) (5) -41.6 -203.8 -142.8 -121.8 -1.8 -216.8 -54.6 -55.6 -119.0 -97.2 83

 Revaluation account

84 Nonfinancial assets 528.1 408.4 386.9 485.1 478.4 82.9 78.5 156.2 159.6 193.4 84

85 Real estate 513.5 370.4 355.8 439.9 448.1 45.8 39.5 136.1 124.8 164.6 85

86 Consumer durable goods 14.2 36.6 29.5 43.6 29.0 35.5 38.9 19.6 35.0 28.3 86

87 Equipment 0.3 1.4 1.1 1.0 0.9 1.3 -0.1 0.3 -0.3 -0.2 87

88 Intellectual property products 0.1 0.0 0.5 0.6 0.4 0.3 0.3 0.2 0.1 0.7 88

89 Financial assets 511.3 534.1 271.8 624.9 791.2 -142.0 914.5 316.9 699.9 143.6 89

90 Corporate equities 348.7 387.1 112.3 416.4 500.8 -132.3 851.8 307.8 461.5 2.5 90

91 Mutual fund shares 27.3 25.6 -11.4 16.3 46.6 -29.8 30.9 21.1 71.1 -4.6 91

92 Equity in noncorporate business 84.2 105.2 141.9 175.9 156.6 35.9 -67.9 -43.4 94.8 168.8 92

93 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 93

94 Insurance, pension and standardized guarantee schemes 51.0 16.2 29.0 16.4 87.1 -15.8 99.8 31.4 72.6 -23.1 94

95 Changes in net worth due to nominal holding gains/losses 1039.4 942.5 658.6 1110.0 1269.6 -59.2 993.0 473.1 859.5 337.0 95

 Changes in balance sheet account

96 Change in net worth (lines 32+38+79+95) 1484.0 1563.1 1181.6 1669.3 1756.8 547.1 1426.0 1034.1 1426.8 911.1 96

 Balance sheet account (end of period)

97 Total assets 17639.4 19467.6 20857.1 22827.7 24869.4 25684.8 27322.9 28565.7 30263.6 31503.0 97

98 Nonfinancial assets 6784.2 7422.7 8042.7 8764.3 9464.6 9733.0 9946.2 10274.0 10645.7 11092.4 98

99 Real estate 5340.0 5828.0 6311.2 6877.6 7444.3 7590.5 7717.7 7961.6 8220.1 8539.6 99

100 Consumer durable goods 1377.0 1522.3 1652.7 1800.3 1925.7 2039.1 2117.4 2193.4 2302.2 2424.1 100

101 Equipment 50.4 54.3 58.6 63.3 68.6 74.3 78.8 82.8 85.1 87.6 101

102 Intellectual property products 16.7 18.1 20.2 23.0 26.1 29.0 32.3 36.1 38.3 41.0 102
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

103 Financial assets 10855.2 12045.0 12814.4 14063.5 15404.7 15951.8 17376.8 18291.7 19617.9 20410.6 103

104 Currency and deposits 2447.4 2683.9 2823.1 3009.6 3098.1 3138.1 3111.3 2996.7 2925.2 2872.7 104

105 Currency and transferable deposits 344.8 461.9 460.9 460.5 462.2 450.8 505.0 616.4 667.5 636.4 105

106 Foreign deposits 7.8 8.8 9.8 10.7 11.9 13.4 14.6 15.6 15.8 18.8 106

107 Time and savings deposits 2094.7 2213.2 2352.4 2538.4 2624.0 2673.9 2591.8 2364.7 2242.0 2217.5 107

108 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 108

109 Debt securities 837.3 875.6 1042.0 1282.4 1367.0 1607.6 1669.0 1742.0 1859.4 2267.8 109

110 Open market paper 56.5 56.1 55.3 93.6 87.9 93.7 58.5 52.7 65.0 69.7 110

111 Treasury securities 282.2 270.9 308.2 393.5 394.9 503.8 535.3 627.1 672.9 870.9 111

112 Agency- and GSE-backed securities (2) 23.4 23.3 32.1 51.8 74.8 117.3 115.5 114.4 58.3 187.4 112

113 Municipal securities 395.1 410.9 516.6 586.0 613.3 647.7 701.8 672.2 640.8 594.1 113

114 Corporate and foreign bonds 80.1 114.4 129.7 157.6 196.1 245.1 257.9 275.6 422.3 545.7 114

115 Loans 165.9 171.6 161.3 167.6 186.6 206.3 238.6 222.7 242.0 236.6 115

116 Short term 49.8 59.0 41.1 45.1 55.3 64.9 95.5 85.5 112.3 115.7 116

117 Long term (mortgages) 116.2 112.6 120.2 122.5 131.4 141.4 143.1 137.1 129.7 120.8 117

118 Equity and investment fund shares 4146.5 4733.6 4882.3 5350.5 6012.1 5919.0 6827.8 7257.1 8035.9 8106.4 118

119 Corporate equities 1229.5 1494.0 1462.6 1756.7 2147.5 1961.4 2759.2 3094.2 3437.0 3294.2 119

120 Mutual fund shares 213.8 378.7 424.5 439.1 513.0 511.5 645.0 799.4 1098.0 1096.6 120

121 Money market fund shares 196.3 235.1 256.0 273.0 351.1 389.4 407.7 365.5 363.5 373.1 121

122 Equity in noncorporate business 2506.9 2625.7 2739.2 2881.7 3000.5 3056.7 3015.8 2998.0 3137.4 3342.6 122

123 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 123

124 Insurance, pension and standardized guarantee schemes 3258.1 3580.2 3905.7 4253.4 4740.9 5080.8 5530.1 6073.3 6555.3 6927.1 124

125 Insurance receivables due from property-casualty insurance companies 89.8 106.4 129.4 144.1 156.0 170.3 175.2 185.0 190.7 197.3 125

126 Life insurance reserves 264.3 282.6 309.5 335.7 365.3 391.7 418.6 447.7 484.8 520.3 126

127 Pension entitlements (4) 2847.1 3130.2 3400.4 3701.0 4141.8 4435.3 4847.0 5342.8 5774.4 6096.0 127

128 Non-life insurance reserves at life insurance companies 56.9 61.0 66.3 72.6 77.9 83.5 89.4 97.8 105.4 113.5 128

129 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 129

130 Total liabilities and net worth 17639.4 19467.6 20857.1 22827.7 24869.4 25684.8 27322.9 28565.7 30263.6 31503.0 130

131 Liabilities 2362.2 2627.4 2835.2 3136.6 3421.5 3689.9 3902.0 4110.7 4381.8 4710.1 131

132 Debt securities (municipals) 81.3 78.4 78.1 79.6 82.7 85.7 89.5 91.9 93.0 96.1 132

133 Loans 2241.3 2508.5 2710.8 3000.2 3264.9 3520.9 3720.6 3920.9 4184.5 4503.9 133

134 Short term 752.5 816.3 832.6 882.6 934.8 954.5 967.5 988.3 1082.4 1236.2 134

135 Consumer credit 610.6 666.4 698.6 745.2 809.3 824.4 815.6 824.8 886.2 1021.2 135

136 Depository institution loans n.e.c. 19.0 17.5 17.9 18.3 8.7 9.6 7.7 14.7 23.6 32.3 136

137 Other loans and advances 72.2 75.0 74.3 75.7 74.3 81.7 89.1 95.3 96.6 107.7 137

138 Security credit 50.7 57.4 41.8 43.5 42.5 38.8 55.1 53.5 76.1 75.1 138

139 Long term (mortgages) 1488.8 1692.3 1878.2 2117.6 2330.1 2566.5 2753.1 2932.7 3102.1 3267.7 139

140 Insurance, pension and standardized guarantee schemes 15.2 13.9 15.1 15.5 16.4 16.5 15.7 15.8 16.3 16.8 140

141 Other accounts payable (trade debt) 24.3 26.6 31.3 41.3 57.4 66.8 76.2 82.1 88.1 93.2 141

142 Net worth 15277.2 16840.3 18021.9 19691.1 21447.9 21995.0 23420.9 24455.0 25881.8 26792.8 142

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

NPISHs Nonprofit institutions serving households

n.e.c. Not elsewhere classified
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Historical Annuals, 1985-1994, March 12, 2015 141

S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 630.4 664.6 695.8 760.4 813.4 852.1 862.7 921.5 950.4 1008.5 1

 2 Less: Consumption of fixed capital 81.0 85.7 90.5 96.0 101.5 105.4 107.6 108.5 111.3 115.2 2

 3 Equals: Net value added 549.4 578.8 605.3 664.4 711.9 746.7 755.0 813.0 839.1 893.3 3

 4 Compensation of employees (paid) 143.2 150.3 155.3 163.4 175.9 187.9 192.1 201.2 213.2 225.5 4

 5 Wages and salaries 127.1 132.9 138.0 142.2 151.6 161.6 164.0 171.4 181.2 193.1 5

 6 Employers’ social contributions 16.1 17.5 17.3 21.3 24.3 26.4 28.1 29.8 32.0 32.4 6

 7 Taxes on production and imports less subsidies 30.0 28.3 28.3 33.3 39.3 44.6 47.7 51.7 46.9 57.3 7

 8 Operating surplus, net 376.2 400.2 421.7 467.6 496.7 514.2 515.3 560.2 578.9 610.5 8

 9 Net national income/Balance of primary incomes, net 3.4 5.5 6.5 5.4 5.3 5.6 5.5 6.9 5.9 6.5 9

10 Operating surplus, net 376.2 400.2 421.7 467.6 496.7 514.2 515.3 560.2 578.9 610.5 10

11 Property income (interest received) 8.1 8.6 8.4 8.4 8.8 8.0 7.3 7.6 8.7 9.6 11

12 Less: Uses of property income (paid) 380.9 403.3 423.7 470.6 500.3 516.6 517.1 560.9 581.7 613.6 12

13 Interest 116.5 126.2 124.2 136.6 150.5 152.2 146.0 131.4 121.5 119.4 13

14 Withdrawals from income of quasi-corporations (1) 264.4 277.1 299.4 334.0 349.9 364.6 371.2 429.6 460.3 494.1 14

15 Reinvested earnings on foreign direct investment -0.0 -0.0 0.0 0.0 -0.1 -0.2 -0.1 -0.1 -0.1 0.0 15

16 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Net national income/Balance of primary incomes, net 3.4 5.5 6.5 5.4 5.3 5.6 5.5 6.9 5.9 6.5 17

18 Less: Other current transfers (paid) 3.4 5.5 6.5 5.4 5.3 5.6 5.5 6.9 5.9 6.5 18

19 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Capital account

21 Net saving less capital transfers 0.0 0.0 0.0 0.0 0.4 0.0 0.1 1.8 0.4 4.1 21

22 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 -0.4 0.0 -0.1 -1.8 -0.4 -4.1 23

24 Capital formation, net 51.5 43.5 39.1 31.4 39.7 20.8 -0.8 2.8 5.6 29.6 24

25 Gross fixed capital formation 126.4 130.1 133.8 136.9 139.8 123.3 107.9 105.0 121.0 130.9 25

26 Nonresidential 85.2 82.0 86.3 93.5 94.9 80.3 72.2 68.2 79.3 86.6 26

27 Residential 41.1 48.2 47.4 43.4 44.8 43.1 35.7 36.8 41.7 44.3 27

28 Less: Consumption of fixed capital 81.0 85.7 90.5 96.0 101.5 105.4 107.6 108.5 111.3 115.2 28

29 Change in private inventories 6.1 -1.0 -4.3 -9.5 1.5 2.9 -1.1 6.4 -4.1 13.9 29

30 Net lending (+) or borrowing (-), capital account (lines 21-24) -51.5 -43.5 -39.1 -31.4 -39.4 -20.8 1.0 -1.0 -5.3 -25.4 30

 Financial account

31 Net lending (+) or borrowing (-) (line 30) -51.5 -43.5 -39.1 -31.4 -39.4 -20.8 1.0 -1.0 -5.3 -25.4 31

32 Net acquisition of financial assets 33.9 26.1 -5.4 50.9 8.0 1.8 8.0 26.6 27.6 62.4 32

33 Currency and deposits 19.7 4.3 -1.1 11.1 2.6 4.9 4.3 12.3 6.6 15.9 33

34 Currency and transferable deposits 14.2 2.6 0.9 4.6 1.2 2.2 2.1 5.4 3.2 12.3 34

35 Time and savings deposits 5.5 1.7 -1.9 6.6 1.4 2.7 2.2 7.0 3.4 3.6 35

36 Debt securities 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 2.1 4.9 36

37 Treasury securities 0.3 2.0 -1.0 0.5 1.6 0.6 -0.3 0.7 0.6 4.7 37

38 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 0.1 38

39 Loans 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 39

40 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Long term (mortgages) 4.7 0.7 -6.8 9.9 -12.7 -4.1 -5.0 -0.9 -3.3 2.0 41

42 Equity and investment fund shares -0.3 -0.5 -0.6 2.3 -0.3 0.6 0.9 2.3 1.4 4.4 42

43 Money market mutual fund shares 0.0 0.1 -0.1 2.2 0.5 0.9 0.7 2.3 1.1 4.2 43

44 Equity in government-sponsored enterprises (2) -0.3 -0.6 -0.5 0.1 -0.7 -0.2 0.2 -0.1 0.3 0.2 44

45 Insurance, pension and standardized guarantee schemes (3) 5.5 6.6 -5.1 0.4 5.6 -3.7 5.0 -0.9 2.6 2.0 45

46 Other accounts receivable 4.0 13.0 9.1 26.7 11.2 3.5 3.1 13.1 18.2 33.3 46

47 Trade receivables 4.5 8.0 1.4 12.0 6.8 2.7 -1.1 7.1 4.9 16.3 47

48 Other (miscellaneous assets) -0.5 4.9 7.6 14.6 4.4 0.8 4.2 6.0 13.2 17.0 48

49 Net incurrence of liabilities 82.8 66.6 30.3 78.7 43.4 19.4 3.7 24.0 29.0 84.5 49

50 Loans 70.4 67.1 58.0 84.1 48.4 0.3 -26.2 -26.5 -20.7 14.4 50

51 Short term 0.1 -0.2 10.5 8.7 16.9 5.0 1.1 3.6 1.5 19.0 51

52 Depository institution loans n.e.c. 2.1 0.6 8.7 9.3 12.8 4.0 0.1 2.7 4.4 15.3 52

53 Other loans and advances -2.0 -0.8 1.8 -0.6 4.2 1.1 1.0 0.8 -2.9 3.7 53

54 Long term (mortgages) 70.3 67.4 47.5 75.4 31.5 -4.7 -27.3 -30.0 -22.1 -4.6 54
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S.4.a Nonfinancial Noncorporate Business

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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

55 Equity and investment fund shares -19.0 -8.6 -26.9 -32.7 -33.1 21.8 26.8 29.7 44.8 45.2 55

56 Equity in noncorporate business -19.6 -9.7 -27.5 -33.5 -34.5 21.1 26.9 29.6 44.8 45.1 56

57 Foreign direct investment in the United States 0.6 1.1 0.6 0.8 1.4 0.7 -0.0 0.1 0.0 0.0 57

58 Other accounts payable 31.3 8.0 -0.8 27.3 28.1 -2.8 3.1 20.8 4.8 24.9 58

59 Trade payables -1.3 -2.1 5.1 7.0 2.5 -0.1 -1.0 6.3 1.5 7.4 59

60 Taxes payable 3.4 1.7 0.6 2.9 4.7 0.6 0.5 0.6 -1.7 1.4 60

61 Other (miscellaneous liabilities) 29.1 8.5 -6.4 17.4 20.9 -3.3 3.6 13.8 5.1 16.1 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 32-49) -48.9 -40.5 -35.7 -27.8 -35.3 -17.6 4.3 2.6 -1.4 -22.0 62

 Other changes in volume account

63 Total other volume changes -20.0 12.4 -27.5 -33.5 -36.0 21.0 26.5 25.5 43.8 37.4 63

64 Disaster losses -0.4 0.0 0.0 0.0 -1.7 0.0 -0.3 -4.1 -0.9 -7.7 64

65 Other volume changes -19.6 12.4 -27.5 -33.5 -34.3 21.0 26.9 29.6 44.8 45.1 65

 Revaluation account

66 Nonfinancial assets 83.8 103.8 135.7 178.2 156.3 30.4 -68.2 -45.2 95.0 164.3 66

67 Real estate 84.4 101.6 118.0 146.8 137.4 13.2 -72.1 -64.2 78.7 153.9 67

68 Residential 114.0 111.7 66.3 82.9 72.0 19.0 3.5 6.4 62.5 92.4 68

69 Nonresidential -29.6 -10.1 51.6 63.9 65.4 -5.8 -75.6 -70.6 16.2 61.5 69

70 Equipment 6.1 12.3 7.2 14.6 15.0 13.1 13.2 15.8 12.4 15.6 70

71 Residential -0.2 0.3 0.2 0.4 0.2 0.1 -0.3 0.0 0.5 0.5 71

72 Nonresidential 6.3 11.9 7.0 14.3 14.8 13.0 13.5 15.8 11.9 15.2 72

73 Intellectual property products 0.4 0.4 1.3 1.2 1.4 1.6 1.3 1.1 1.3 1.7 73

74 Inventories -7.1 -10.5 9.2 15.5 2.5 2.4 -10.6 2.0 2.5 -7.1 74

75 Liabilities (direct investment in the U.S.) 0.2 -1.0 -5.6 2.5 0.9 -5.6 0.1 0.3 0.8 -0.4 75

76 Changes in net worth due to nominal holding gains/losses 83.5 104.7 141.3 175.6 155.4 36.0 -68.3 -45.5 94.2 164.7 76

 Changes in balance sheet account

77 Change in net worth (lines 24+30+63+76) 63.5 117.1 113.8 142.1 119.8 56.9 -41.6 -18.2 138.3 206.2 77

 Balance sheet account (end of period)

78 Total assets 3655.0 3834.5 4000.5 4257.4 4455.7 4505.3 4440.7 4417.3 4540.6 4785.8 78

79 Nonfinancial assets 3353.9 3498.2 3669.6 3875.6 4065.9 4113.9 4041.2 3991.1 4086.8 4269.6 79

80 Real estate 2912.3 3054.7 3208.4 3388.7 3557.1 3587.4 3522.1 3460.0 3547.8 3707.9 80

81 Residential (4) 1603.3 1735.6 1819.7 1914.6 1997.9 2026.6 2031.6 2037.4 2105.2 2198.4 81

82 Nonresidential 1308.9 1319.2 1388.7 1474.1 1559.2 1560.8 1490.6 1422.6 1442.6 1509.5 82

83 Equipment 283.7 294.6 303.7 319.7 333.5 342.2 343.1 343.3 349.7 362.1 83

84 Residential 20.7 22.3 23.9 25.6 26.9 27.9 28.2 28.9 30.1 31.2 84

85 Nonresidential 263.1 272.2 279.8 294.1 306.6 314.4 314.9 314.4 319.6 331.0 85

86 Intellectual property products 22.0 24.4 28.1 31.7 35.7 39.4 42.9 46.2 49.4 52.8 86

87 Inventories 135.9 124.5 129.5 135.5 139.5 144.8 133.1 141.5 139.9 146.7 87

88 Financial assets 301.1 336.3 330.9 381.8 389.8 391.5 399.5 426.2 453.8 516.2 88

89 Currency and deposits 112.4 116.7 115.6 126.7 129.3 134.2 138.6 150.9 157.5 173.4 89

90 Currency and transferable deposits 71.8 74.3 75.2 79.8 81.0 83.2 85.3 90.7 93.9 106.3 90

91 Time and savings deposits 40.6 42.3 40.4 47.0 48.4 51.0 53.2 60.2 63.6 67.2 91

92 Debt securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 15.1 19.9 92

93 Treasury securities 5.8 10.8 9.8 10.3 11.9 12.5 12.2 13.0 13.6 18.3 93

94 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.6 94

95 Loans 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 95

96 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 96

97 Long term (mortgages) 44.0 44.7 37.9 47.8 35.1 31.1 26.0 25.2 21.9 23.8 97

98 Equity and investment fund shares 4.5 7.2 6.6 8.8 8.6 9.1 10.0 12.3 13.7 18.1 98

99 Money market mutual fund shares 0.0 3.2 3.1 5.3 5.8 6.7 7.4 9.7 10.9 15.1 99

100 Equity in government-sponsored enterprises (2) 4.5 3.9 3.5 3.5 2.8 2.4 2.6 2.5 2.8 3.0 100

101 Insurance, pension and standardized guarantee schemes (3) 56.3 62.9 57.8 58.2 63.8 60.0 65.0 64.1 66.7 68.7 101

102 Other accounts receivable 78.2 94.1 103.2 129.9 141.1 144.6 147.7 160.8 178.9 212.2 102

103 Trade receivables 63.8 74.8 76.3 88.3 95.1 97.8 96.7 103.8 108.7 125.0 103

104 Other (miscellaneous assets) 14.4 19.3 27.0 41.6 46.0 46.8 51.0 57.0 70.2 87.2 104
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S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

105 Total liabilities and net worth 3655.0 3834.5 4000.5 4257.4 4455.7 4505.3 4440.7 4417.3 4540.6 4785.8 105

106 Liabilities 1152.0 1214.3 1266.5 1381.3 1459.9 1452.6 1429.6 1424.4 1409.4 1448.3 106

107 Loans 933.0 1000.2 1058.2 1141.9 1190.2 1190.5 1162.0 1135.5 1114.9 1129.3 107

108 Short term 225.2 225.0 235.5 243.8 260.6 265.6 264.3 267.9 269.3 288.3 108

109 Depository institution loans n.e.c. 131.4 132.0 140.7 150.0 162.7 166.7 166.7 169.5 173.9 189.2 109

110 Other loans and advances 93.8 93.0 94.8 93.8 97.9 98.9 97.6 98.4 95.5 99.2 110

111 Long term (mortgages) 707.8 775.2 822.7 898.1 929.6 924.9 897.6 867.6 845.5 840.9 111

112 Equity and investment fund shares (direct investment in the U.S.) 8.0 8.1 3.1 6.5 8.7 3.8 3.9 4.4 5.2 4.8 112

113 Other accounts payable 211.0 206.0 205.2 232.9 261.0 258.2 263.7 284.5 289.3 314.2 113

114 Trade payables 66.6 51.4 56.5 63.9 66.5 66.4 67.8 74.1 75.5 83.0 114

115 Taxes payable 21.6 23.3 23.9 26.8 31.4 32.0 32.5 33.1 31.4 32.8 115

116 Other (miscellaneous liabilities) 122.8 131.3 124.9 142.2 163.1 159.8 163.5 177.3 182.4 198.4 116

117 Net worth 2503.0 2620.2 2733.9 2876.0 2995.8 3052.7 3011.1 2992.9 3131.2 3337.5 117

Notes. Nonfinancial noncorporate business includes noncorporate farms that are excluded from the nonfinancial noncorporate business sector in the Financial Accounts of the United States.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Net equity in reserves of property-casualty insurance companies.

(4) Farm houses are included in the household sector.

n.e.c. Not elsewhere classified
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144 Historical Annuals, 1985-1994, March 12, 2015

S.5.a Nonfinancial Corporate Business

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 2369.5 2465.3 2642.5 2874.5 3020.8 3161.2 3231.8 3377.1 3535.3 3816.5 1

 2 Less: Consumption of fixed capital 299.0 317.9 334.7 357.7 380.1 403.0 424.5 437.8 457.9 484.8 2

 3 Equals: Net value added 2070.6 2147.5 2307.8 2516.8 2640.7 2758.3 2807.3 2939.4 3077.3 3331.8 3

 4 Compensation of employees (paid) 1490.1 1578.2 1685.5 1825.3 1934.8 2037.5 2071.1 2188.7 2271.0 2398.7 4

 5 Wages and salaries 1243.0 1307.3 1397.0 1514.9 1600.1 1682.9 1701.7 1783.9 1845.5 1952.8 5

 6 Employers’ social contributions 247.1 270.9 288.4 310.4 334.7 354.6 369.4 404.8 425.6 445.9 6

 7 Taxes on production and imports less subsidies 196.6 204.6 216.8 233.8 248.2 263.5 285.7 302.5 319.3 350.7 7

 8 Operating surplus, net 383.9 364.7 405.5 457.7 457.8 457.2 450.5 448.2 487.0 582.3 8

 9 Net national income/Balance of primary incomes, net 238.5 204.0 241.4 261.9 224.5 215.1 215.6 222.5 269.1 340.8 9

10 Operating surplus, net 383.9 364.7 405.5 457.7 457.8 457.2 450.5 448.2 487.0 582.3 10

11 Property income (received) 174.6 182.3 192.7 221.2 246.1 255.9 247.7 235.3 234.7 249.7 11

12 Interest 123.6 132.4 134.6 151.5 179.0 183.0 180.5 165.2 156.1 170.7 12

13 Distributed income of corporations (dividends) 27.4 30.8 29.9 45.8 42.5 40.2 37.3 40.7 36.1 40.8 13

14 Reinvested earnings on U.S. direct investment abroad 23.6 19.1 28.3 23.9 24.6 32.7 29.9 29.4 42.5 38.3 14

15 Less: Uses of property income (paid) 320.0 343.0 356.8 416.9 479.3 498.0 482.6 461.0 452.6 491.2 15

16 Interest 211.1 230.5 242.6 280.4 332.1 345.6 329.5 289.0 265.7 279.5 16

17 Distributed income of corporations (dividends) 99.4 103.7 106.1 127.9 147.9 158.5 162.8 174.9 185.3 198.8 17

18 Reinvested earnings on foreign direct investment -0.4 -0.7 -0.3 1.3 -7.7 -13.8 -17.9 -11.1 -6.7 4.8 18

19 Rent 9.9 9.5 8.4 7.3 7.1 7.6 8.3 8.2 8.3 8.1 19

20 Net national income/Balance of primary incomes, net 238.5 204.0 241.4 261.9 224.5 215.1 215.6 222.5 269.1 340.8 20

21 Less: Current taxes on income, wealth, etc. (paid) 71.1 76.2 94.2 104.0 101.2 98.5 88.6 94.4 108.0 132.4 21

22 Less: Other current transfers (paid) 15.4 26.9 29.7 27.0 23.5 24.9 26.1 30.7 29.5 34.7 22

23 Equals: Disposable income, net 152.0 100.8 117.5 130.9 99.8 91.8 100.9 97.4 131.6 173.8 23

24 Equals: Net saving 152.0 100.8 117.5 130.9 99.8 91.8 100.9 97.4 131.6 173.8 24

 Capital account

25 Net saving less capital transfers 152.0 100.8 117.5 130.9 101.0 91.8 100.9 104.4 132.2 177.1 25

26 Net saving 152.0 100.8 117.5 130.9 99.8 91.8 100.9 97.4 131.6 173.8 26

27 Less: Capital transfers paid (net) -0.0 0.0 0.0 0.0 -1.2 0.0 0.0 -7.0 -0.6 -3.3 27

28 Capital formation, net 148.6 118.1 117.6 120.1 135.7 134.8 99.4 115.6 149.7 202.3 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 431.1 426.2 421.4 450.6 489.9 526.8 524.9 545.1 584.4 638.9 29

30 Less: Consumption of fixed capital 299.0 317.9 334.7 357.7 380.1 403.0 424.5 437.8 457.9 484.8 30

31 Acquisition of nonproduced nonfinancial assets 0.7 2.2 -0.5 -0.8 -0.3 -0.7 -1.7 -1.7 -1.7 -1.7 31

32 Change in private inventories 15.7 7.5 31.4 27.9 26.2 11.7 0.7 10.0 24.9 49.9 32

33 Net lending (+) or borrowing (-), capital account (lines 25-28) 3.4 -17.3 -0.1 10.9 -34.7 -43.0 1.5 -11.2 -17.5 -25.2 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 3.4 -17.3 -0.1 10.9 -34.7 -43.0 1.5 -11.2 -17.5 -25.2 34

35 Net acquisition of financial assets 213.0 131.4 228.8 350.3 181.3 124.5 83.0 145.7 332.7 273.6 35

36 Currency and deposits 26.2 21.0 7.0 15.6 0.6 0.1 11.7 -6.4 35.3 17.4 36

37 Currency and transferable deposits 23.2 1.5 9.6 14.0 9.1 6.1 6.9 -4.2 20.6 11.8 37

38 Time and savings deposits 0.2 16.2 0.4 -3.7 -1.7 -6.0 3.0 -1.6 16.0 4.4 38

39 Foreign deposits 2.7 3.2 -2.9 5.3 -6.8 0.0 1.7 -0.6 -1.3 1.2 39

40 Debt securities 7.2 -3.3 -9.1 -4.4 42.8 -27.8 28.6 24.0 10.0 4.2 40

41 Open market paper 0.7 -0.3 4.8 -1.3 0.6 -0.5 0.9 2.3 2.4 -0.6 41

42 Treasury securities 4.6 -0.8 -8.5 -3.9 23.5 -13.8 5.8 17.2 -11.8 2.0 42

43 Agency- and GSE-backed securities (1) -1.3 -1.7 0.3 3.4 3.1 -5.9 1.8 3.5 10.5 0.8 43

44 Municipal securities 3.1 -0.5 -5.7 -2.6 15.6 -7.7 20.1 1.0 8.9 2.0 44

45 Loans 9.1 -0.7 6.7 25.0 -12.9 1.0 1.5 7.3 -3.4 13.1 45

46 Short term (security repos and consumer credit) 3.6 6.2 5.3 8.3 0.9 2.7 -4.7 6.2 4.4 9.1 46

47 Long term (mortgages) 5.6 -6.9 1.4 16.6 -13.7 -1.6 6.2 1.1 -7.8 4.1 47

48 Equity and investment fund shares 21.2 25.2 21.7 0.6 25.0 49.5 47.1 60.4 55.9 85.9 48

49 Money market fund shares -1.5 0.4 0.9 -5.5 0.0 9.3 4.5 13.5 -3.7 3.2 49

50 Mutual fund shares 3.7 3.8 -2.7 -2.7 -1.4 -1.0 2.4 5.0 6.8 2.1 50

51 U.S. direct investment abroad 14.3 19.0 29.7 11.8 26.1 35.6 38.1 40.0 57.9 78.5 51

52 Equity in government-sponsored enterprises (1) -0.0 -0.0 -0.0 0.0 -0.1 -0.0 0.0 -0.0 0.0 0.0 52

53 Investment in finance company subsidiaries 4.7 2.1 -6.2 -3.0 0.4 5.5 2.1 2.0 -5.2 2.2 53

54 Insurance, pension and standardized guarantee schemes (2) 4.3 18.9 23.5 15.0 14.3 13.4 2.2 13.7 6.9 5.9 54
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

55 Other accounts receivable 145.1 70.3 179.0 298.5 111.4 88.3 -8.1 46.8 228.0 147.0 55

56 Trade receivables 45.2 2.1 63.9 90.6 42.1 29.2 -5.8 27.6 50.7 71.9 56

57 Other (miscellaneous assets) 99.9 68.1 115.1 207.9 69.3 59.1 -2.3 19.2 177.3 75.1 57

58 Net incurrence of liabilities 377.4 188.6 273.1 443.3 347.3 183.8 67.4 161.4 218.5 242.6 58

59 Debt securities 120.4 107.9 79.5 115.2 94.4 56.5 59.2 80.5 200.0 118.8 59

60 Open market paper 14.6 -9.3 1.6 11.9 21.4 9.7 -18.4 8.6 10.0 21.4 60

61 Municipal securities 22.6 -9.9 -0.9 0.2 -0.9 -0.3 -1.2 4.3 6.6 6.8 61

62 Corporate bonds 83.2 127.1 78.8 103.1 73.8 47.1 78.8 67.6 183.4 90.6 62

63 Loans 64.0 119.9 86.2 109.2 71.5 74.5 -113.5 -64.5 -65.7 71.0 63

64 Short term 59.1 104.0 40.7 82.4 70.3 51.2 -104.7 -25.3 -34.3 77.7 64

65 Depository institution loans n.e.c. 41.0 65.7 4.4 36.5 21.6 -10.5 -47.4 -31.5 -7.3 46.8 65

66 Other loans and advances 18.1 38.3 36.3 46.0 48.7 61.7 -57.3 6.2 -27.0 30.9 66

67 Long term (mortgages) 4.8 15.9 45.5 26.8 1.2 23.3 -8.8 -39.2 -31.3 -6.7 67

68 Equity and investment fund shares -67.0 -53.1 -23.0 -59.7 -61.8 -3.9 16.9 33.7 41.6 1.2 68

69 Corporate equities -84.5 -85.0 -75.5 -129.5 -124.2 -63.0 18.3 27.0 21.3 -44.9 69

70 Foreign direct investment in the United States 17.5 31.9 52.5 69.8 62.4 59.1 -1.3 6.7 20.3 46.1 70

71 Insurance, pension and standardized guarantee schemes -5.5 31.5 47.2 28.0 29.9 61.2 36.7 83.5 20.0 -6.7 71

72 Pension fund contributions payable 5.8 0.0 1.5 -1.2 7.3 6.1 12.1 9.9 12.3 11.7 72

73 Claim of pension fund on sponsor -11.3 31.5 45.7 29.2 22.6 55.2 24.7 73.5 7.7 -18.4 73

74 Other accounts payable 265.5 -17.7 83.2 250.6 213.3 -4.5 68.0 28.3 22.6 58.3 74

75 Trade payables 42.5 -2.0 44.4 54.1 21.6 28.3 23.1 33.4 36.5 77.4 75

76 Taxes payable -3.2 3.8 5.1 -3.5 -6.1 0.0 -9.4 6.5 5.4 -0.4 76

77 Miscellaneous liabilities 226.2 -19.4 33.8 200.0 197.8 -32.8 54.4 -11.5 -19.3 -18.7 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-58) -164.4 -57.2 -44.3 -93.0 -166.0 -59.3 15.6 -15.7 114.2 31.0 78

 Other changes in volume account

79 Total other volume changes -19.5 65.6 20.1 112.5 73.1 16.3 10.3 -114.2 90.9 105.3 79

80 Disaster losses -0.1 0.0 0.0 0.0 -2.8 0.0 0.0 -3.8 -1.5 -5.7 80

81 Other volume changes 148.4 112.6 48.1 194.2 190.9 19.7 1.1 -108.6 -43.3 42.3 81

82 Less: Statistical discrepancy (lines 33-78) (3) 167.8 39.9 44.2 103.9 131.4 16.3 -14.2 4.5 -131.7 -56.3 82

83 Less: Inventory valuation adjustment 0.0 7.1 -16.2 -22.2 -16.3 -12.9 4.9 -2.8 -4.0 -12.4 83

 Revaluation account

84 Nonfinancial assets 78.1 76.6 153.6 222.5 160.5 -2.0 -248.6 -257.3 -22.8 194.0 84

85 Real estate 47.8 37.7 92.9 146.9 98.9 -81.7 -273.6 -288.2 -53.0 136.9 85

86 Equipment 27.7 39.4 37.2 51.0 47.7 59.1 23.7 18.7 19.1 28.5 86

87 Intellectual property products 6.4 5.7 14.4 13.0 12.9 12.3 12.0 9.4 7.5 17.7 87

88 Inventories -3.8 -6.1 9.0 11.6 1.0 8.4 -10.7 2.7 3.5 10.9 88

89 Financial assets 2.9 7.2 30.4 10.9 -10.3 21.6 -11.3 -32.6 -24.8 -0.9 89

90 Mutual fund shares -0.1 1.1 -0.2 0.5 2.5 -1.0 2.7 1.3 1.8 -0.8 90

91 Direct investment abroad 3.0 6.1 30.6 10.3 -12.9 22.6 -14.0 -33.8 -26.6 -0.1 91

92 Liabilities 449.9 412.2 120.1 408.7 702.6 -120.2 1023.8 332.1 455.8 -1.6 92

93 Corporate equity 448.1 408.9 121.3 400.9 704.7 -119.8 1024.4 335.7 459.9 -0.6 93

94 Foreign direct investment in the United States 1.8 3.3 -1.2 7.8 -2.1 -0.5 -0.6 -3.6 -4.0 -1.0 94

95 Changes in net worth due to nominal holding gains/losses -368.9 -328.4 63.9 -175.3 -552.4 139.9 -1283.7 -621.9 -503.4 194.8 95

 Changes in balance sheet account

96 Change in net worth (lines 28+33+79+95) (4) -236.3 -161.9 201.4 68.2 -378.3 248.0 -1172.5 -631.7 -280.4 477.2 96

 Balance sheet account (end of period)

97 Total assets 7803.0 8153.5 8675.8 9432.7 9975.9 10238.1 10208.9 10219.9 10700.2 11371.6 97

98 Nonfinancial assets (5) 5329.6 5511.2 5802.6 6180.2 6495.0 6649.1 6494.3 6342.4 6474.3 6875.8 98

99 Real estate 2872.9 2956.9 3096.1 3297.0 3446.5 3433.1 3205.3 2947.6 2933.3 3104.9 99

100 Equipment 1416.4 1491.4 1552.9 1635.0 1718.9 1813.3 1861.3 1915.6 1994.4 2106.5 100

101 Intellectual property products 319.8 348.0 382.0 414.9 452.8 492.9 532.7 568.8 603.7 648.3 101

102 Inventories 720.6 714.9 771.5 833.3 876.8 909.8 894.9 910.4 942.9 1016.2 102

103 Financial assets 2473.3 2642.3 2873.2 3252.5 3480.9 3588.9 3714.6 3877.5 4225.8 4495.8 103

104 Currency and deposits 211.9 232.8 239.9 255.5 256.0 256.2 267.8 261.4 296.7 314.1 104

105 Currency and transferable deposits 126.5 128.1 137.7 151.6 160.7 166.9 173.8 169.6 190.2 202.1 105

106 Time and savings deposits 69.3 85.5 85.9 82.3 80.6 74.6 77.6 76.0 92.0 96.4 106

107 Foreign deposits 16.0 19.2 16.3 21.6 14.7 14.7 16.4 15.8 14.5 15.7 107
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

108 Debt securities 81.2 77.9 68.8 64.4 107.2 79.4 108.1 132.0 142.0 146.2 108

109 Open market paper 10.5 10.2 15.0 13.6 14.3 13.8 14.7 17.0 19.4 18.8 109

110 Treasury securities 41.1 40.3 31.8 27.9 51.4 37.6 43.4 60.6 48.8 50.8 110

111 Agency- and GSE-backed securities (1) 4.0 2.4 2.6 6.0 9.2 3.3 5.1 8.6 19.1 19.9 111

112 Municipal securities 25.6 25.1 19.4 16.8 32.4 24.7 44.8 45.8 54.7 56.7 112

113 Loans 102.9 102.2 108.9 133.9 121.0 122.1 123.6 130.8 132.0 145.2 113

114 Short term 45.9 52.1 57.4 65.7 66.6 69.3 64.6 70.8 79.7 88.8 114

115 Security repurchases 3.4 5.1 3.4 5.0 2.8 2.1 1.6 5.1 2.5 2.2 115

116 Consumer credit 42.5 47.0 54.0 60.8 63.8 67.1 63.0 65.7 77.2 86.6 116

117 Long term (mortgages) 57.0 50.2 51.5 68.1 54.4 52.8 59.0 60.0 52.3 56.4 117

118 Equity and investment fund shares 419.4 451.8 503.9 515.4 530.1 601.2 637.0 664.9 685.4 770.5 118

119 Money market fund shares 14.5 14.9 15.8 10.3 10.4 19.7 24.1 37.6 33.9 37.1 119

120 Mutual fund shares 10.8 15.7 12.8 10.6 11.7 9.7 14.8 21.1 29.8 31.1 120

121 U.S. direct investment abroad 377.1 402.3 462.5 484.7 497.9 556.2 580.3 586.4 607.1 685.6 121

122 Equity in government-sponsored enterprises (1) 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 122

123 Investment in finance company subsidiaries 16.7 18.7 12.5 9.5 9.9 15.5 17.6 19.6 14.4 16.6 123

124 Insurance, pension and standardized guarantee schemes (2) 64.2 83.1 106.6 121.6 136.0 149.3 151.5 165.2 172.1 178.0 124

125 Other accounts receivable 1593.8 1694.4 1845.1 2161.7 2330.6 2380.8 2426.6 2523.2 2797.6 2941.8 125

126 Trade receivables 739.3 741.5 805.3 895.9 938.0 967.2 961.4 988.9 1035.0 1107.0 126

127 Other (miscellaneous assets) 854.5 952.9 1039.8 1265.8 1392.6 1413.6 1465.2 1534.2 1762.5 1834.8 127

128 Total liabilities and net worth 7803.0 8153.5 8675.8 9432.7 9975.9 10238.1 10208.9 10219.9 10700.2 11371.6 128

129 Liabilities 5237.9 5750.4 6071.2 6759.9 7681.4 7695.6 8838.9 9481.7 10242.3 10436.6 129

130 Debt securities 777.5 885.4 974.1 1089.3 1183.7 1240.2 1299.4 1379.9 1580.6 1699.4 130

131 Open market paper 72.2 62.9 73.8 85.7 107.1 116.9 98.5 107.1 117.8 139.2 131

132 Municipal securities 127.0 117.1 116.2 116.4 115.5 115.2 114.0 118.3 124.9 131.7 132

133 Corporate bonds 578.2 705.4 784.1 887.2 961.1 1008.2 1086.9 1154.5 1337.9 1428.5 133

134 Loans 861.5 980.4 1085.1 1174.2 1270.4 1343.1 1225.1 1163.7 1109.8 1187.9 134

135 Short term 692.2 795.2 832.4 919.2 1007.2 1057.2 947.9 925.8 891.5 976.2 135

136 Depository institution loans n.e.c. 453.9 519.6 524.0 565.4 604.5 594.1 542.3 514.0 506.7 554.2 136

137 Other loans and advances 238.2 275.5 308.4 353.8 402.7 463.1 405.6 411.8 384.8 422.0 137

138 Long term (mortgages) 169.3 185.3 252.7 255.0 263.2 285.9 277.1 237.9 218.3 211.6 138

139 Equity and investment fund shares 2127.8 2494.9 2603.4 2952.4 3593.2 3469.1 4509.7 4884.8 5387.6 5394.9 139

140 Corporate equity 1916.9 2240.8 2286.7 2558.1 3138.6 2955.8 3998.5 4361.2 4842.3 4796.8 140

141 Foreign direct investment in the United States 210.9 254.1 316.7 394.3 454.6 513.3 511.3 523.6 545.3 598.1 141

142 Insurance, pension and standardized guarantee schemes -5.3 28.8 103.5 161.5 115.3 206.9 129.6 177.2 137.6 116.0 142

143 Pension fund contributions payable 18.7 18.7 20.3 19.0 26.3 32.3 44.4 54.3 66.6 78.3 143

144 Claim of pension fund on sponsor -24.0 10.0 83.3 142.5 89.0 174.6 85.2 122.9 71.0 37.7 144

145 Other accounts payable 1476.4 1360.9 1305.0 1382.4 1518.8 1436.4 1675.2 1876.1 2026.7 2038.4 145

146 Trade payables 480.4 478.5 522.8 577.0 598.5 626.9 650.1 683.5 720.0 797.4 146

147 Taxes payable 39.0 42.8 47.9 44.4 38.3 38.3 28.9 35.3 40.7 40.3 147

148 Miscellaneous liabilities 957.0 839.7 734.4 761.1 881.9 771.2 996.2 1157.2 1266.0 1200.7 148

149 Net worth 2565.1 2403.1 2604.6 2672.8 2294.4 2542.5 1369.9 738.2 457.9 935.0 149

Notes. Nonfinancial corporate business includes corporate farms that are excluded from the nonfinancial corporate business sector in the Financial Accounts of the United States.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) Net equity in reserves of property-casualty insurance companies.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Financial Accounts of the United States.

(5) Excludes nonproduced nonfinancial assets.

n.e.c. Not elsewhere classified
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 257.4 269.9 292.8 312.5 349.1 354.9 370.7 410.6 436.9 454.8 1

 2 Less: Consumption of fixed capital 30.3 34.5 39.3 44.7 50.3 55.5 59.7 61.6 65.0 69.0 2

 3 Equals: Net value added 227.1 235.4 253.5 267.9 298.8 299.4 311.0 348.9 371.9 385.8 3

 4 Compensation of employees (paid) 135.5 155.6 174.4 189.3 196.4 209.4 219.2 246.2 260.0 265.9 4

 5 Wages and salaries 116.9 134.1 150.4 162.2 166.8 177.0 184.4 206.5 216.7 220.9 5

 6 Employers’ social contributions 18.6 21.5 24.0 27.2 29.5 32.5 34.8 39.8 43.3 45.0 6

 7 Taxes on production and imports less subsidies 13.5 16.0 18.0 20.1 21.5 23.4 24.7 25.3 26.4 27.5 7

 8 Operating surplus, net 78.1 63.8 61.0 58.4 81.0 66.6 67.1 77.4 85.5 92.4 8

 9 Net national income/Balance of primary incomes, net 49.5 43.7 37.6 49.7 65.7 67.2 89.2 97.4 79.5 77.5 9

10 Operating surplus, net 78.1 63.8 61.0 58.4 81.0 66.6 67.1 77.4 85.5 92.4 10

11 Property income (received) 755.2 791.4 857.3 970.6 1129.6 1150.0 1096.9 1013.8 1000.6 1084.7 11

12 Interest 721.5 756.6 820.7 925.3 1077.6 1093.3 1037.9 948.8 926.9 1001.8 12

13 Distributed income of corporations (dividends) 31.6 33.0 33.8 42.8 49.0 52.2 54.8 60.8 66.7 76.4 13

14 Reinvested earnings on U.S. direct investment abroad 2.2 1.8 2.7 2.5 3.1 4.6 4.1 4.2 6.9 6.6 14

15 Less: Uses of property income (paid) 783.9 811.5 880.8 979.3 1145.0 1149.4 1074.7 993.7 1006.6 1099.7 15

16 Interest 729.4 753.5 811.6 901.3 1056.4 1051.2 969.7 890.2 884.9 964.7 16

17 Distributed income of corporations 54.5 58.0 69.2 78.0 88.7 98.1 105.1 103.7 121.8 134.8 17

18 Dividends 45.3 48.4 53.2 58.6 70.0 78.0 85.5 88.0 102.3 116.2 18

19 Withdrawals from income of quasi-corporations (1) 9.2 9.6 16.0 19.4 18.7 20.1 19.6 15.7 19.5 18.6 19

20 Reinvested earnings on foreign direct investment -0.0 -0.1 0.0 0.0 -0.1 0.1 -0.1 -0.2 -0.1 0.2 20

21 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net 49.5 43.7 37.6 49.7 65.7 67.2 89.2 97.4 79.5 77.5 22

23 Less: Current taxes on income, wealth, etc. (paid) 28.3 33.4 36.2 37.7 44.9 47.0 50.0 54.3 63.0 60.8 23

24 Less: Other current transfers (paid) 15.6 2.6 -4.4 -0.4 10.4 9.4 7.9 3.5 2.5 -2.2 24

25 Equals: Disposable income, net 5.5 7.7 5.8 12.4 10.4 10.8 31.4 39.6 14.1 19.0 25

26 Equals: Net saving 5.5 7.7 5.8 12.4 10.4 10.8 31.4 39.6 14.1 19.0 26

 Capital account

27 Net saving less capital transfers 5.5 7.7 5.8 12.4 7.2 10.8 30.1 22.3 12.0 6.8 27

28 Net saving 5.5 7.7 5.8 12.4 10.4 10.8 31.4 39.6 14.1 19.0 28

29 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 3.2 0.0 1.3 17.4 2.0 12.2 29

30 Capital formation, net 34.8 36.6 35.0 37.2 41.1 33.4 21.6 19.7 24.6 27.9 30

31 Gross fixed capital formation (nonresidential) 65.1 71.1 74.3 81.9 91.3 88.9 81.3 81.3 89.6 96.9 31

32 Less: Consumption of fixed capital 30.3 34.5 39.3 44.7 50.3 55.5 59.7 61.6 65.0 69.0 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) -29.3 -28.9 -29.2 -24.8 -33.9 -22.6 8.5 2.6 -12.5 -21.1 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -29.3 -28.9 -29.2 -24.8 -33.9 -22.6 8.5 2.6 -12.5 -21.1 34

35 Net acquisition of financial assets 1106.7 1317.5 980.4 1046.2 983.3 753.7 905.2 1097.4 1458.7 1247.3 35

36 Monetary gold -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 36

37 Currency and deposits 24.5 44.1 -20.1 29.5 55.8 -13.6 -8.3 -20.2 -12.7 -0.6 37

38 Debt securities 430.4 546.8 354.3 306.8 335.9 388.2 463.1 534.3 621.9 290.7 38

39 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 39

40 Open market paper 61.4 27.2 27.1 35.3 69.2 24.9 -15.3 9.9 -29.5 21.2 40

41 Treasury securities 97.0 121.5 40.9 -6.1 43.2 86.9 202.8 164.3 107.2 -8.3 41

42 Agency- and GSE-backed securities (2) 73.6 174.3 151.9 85.7 80.8 151.6 101.9 120.9 183.9 147.9 42

43 Municipal securities 100.6 44.2 -8.3 0.9 5.6 20.8 18.4 51.6 86.5 9.1 43

44 Corporate and foreign bonds 57.8 149.7 112.4 158.3 99.1 69.2 116.9 149.9 236.7 83.2 44

45 Nonmarketable government securities 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 45

46 Loans 482.5 525.3 399.4 473.1 425.8 165.3 103.3 231.1 327.4 437.0 46

47 Short term 248.6 240.8 90.6 182.3 148.7 -15.9 -22.3 102.4 170.9 258.5 47

48 Long term (mortgages) 233.9 284.5 308.8 290.8 277.1 181.2 125.6 128.7 156.5 178.5 48

49 Equity and investment fund shares 107.9 85.2 109.9 76.6 38.2 48.8 177.5 211.6 393.4 309.8 49

50 Corporate equities 55.3 35.3 65.4 18.8 -2.9 16.9 121.3 88.9 243.2 168.3 50

51 Mutual fund shares 3.1 10.1 3.8 2.7 0.2 19.7 20.2 36.5 42.8 75.6 51

52 Money market mutual fund shares 8.4 5.8 1.5 7.5 10.7 19.3 17.4 30.1 22.2 18.6 52

53 Equity in government-sponsored enterprises (2) 1.1 1.2 1.8 1.9 0.2 -2.3 -0.9 -0.1 1.3 1.6 53

54 U.S. direct investment abroad 0.5 0.1 1.5 4.3 12.8 -2.9 1.0 4.5 26.0 1.7 54

55 Stock in Federal Reserve Banks 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 55

56 Investment in subsidiaries 39.3 32.6 35.6 41.3 17.1 -2.1 18.3 51.4 57.3 43.6 56
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

57 Insurance, pension and standardized guarantee schemes 4.2 56.0 94.9 69.7 88.8 125.7 112.6 123.4 75.9 92.5 57

58 Other accounts receivable 57.3 60.2 42.0 90.6 38.9 39.3 57.0 17.1 52.8 117.8 58

59 Net incurrence of liabilities 1113.4 1304.0 961.2 1044.3 928.4 738.3 864.8 1107.6 1394.9 1266.8 59

60 Currency and deposits 265.2 285.1 178.9 232.2 102.1 59.2 26.8 -2.0 45.7 76.7 60

61 Debt securities 187.9 296.0 273.5 227.8 221.7 230.6 185.4 238.2 280.0 448.1 61

62 Agency- and GSE-backed securities (2) 99.5 179.5 168.0 120.8 149.5 167.5 145.8 156.3 165.3 292.2 62

63 Corporate bonds 56.5 92.3 78.6 52.2 40.8 54.5 72.0 83.0 120.2 115.5 63

64 Commercial paper 32.0 24.2 26.9 54.8 31.3 8.6 -32.3 -1.1 -5.5 40.5 64

65 Loans 113.5 139.7 -0.3 80.9 107.0 -49.0 24.8 130.0 174.3 54.3 65

66 Short term 113.5 139.4 -0.6 80.6 106.6 -49.6 24.3 129.4 170.7 44.5 66

67 Long term (mortgages) 0.1 0.3 0.3 0.3 0.3 0.6 0.5 0.6 3.6 9.8 67

68 Equity and investment fund shares 153.3 256.4 137.1 71.8 142.4 118.5 237.1 307.7 447.1 190.0 68

69 Money market mutual fund shares 10.2 48.2 23.2 21.2 89.7 68.6 41.6 4.5 20.2 40.5 69

70 Corporate equity issues 10.5 14.7 14.9 22.9 3.6 6.7 22.3 40.2 51.1 9.9 70

71 Mutual fund shares 86.5 153.3 60.2 -1.6 27.4 53.7 133.9 190.5 292.0 100.6 71

72 Equity in government-sponsored enterprises (2) 0.8 0.5 1.3 2.0 -0.6 -2.5 -0.7 -0.2 1.6 1.8 72

73 Foreign direct investment in the United States 1.6 2.4 5.3 -12.9 4.5 -11.3 24.5 13.0 31.0 0.0 73

74 Equity in noncorporate business 0.1 1.2 -0.8 0.1 -1.7 -0.7 0.5 0.1 0.9 -1.1 74

75 Investment by parent 43.5 36.0 32.8 40.1 19.4 3.9 14.7 59.2 49.9 38.0 75

76 Stock in Federal Reserve Banks 0.2 0.1 0.2 0.1 0.1 0.2 0.2 0.4 0.3 0.3 76

77 Insurance, pension and standardized guarantee schemes 282.6 307.6 331.1 347.7 345.1 364.8 366.1 373.0 411.0 426.3 77

78 Other accounts payable 110.8 19.3 41.0 83.9 10.2 14.3 24.5 60.7 36.9 71.4 78

 Addendum:

79 Net lending (+) or borrowing (-), financial account (lines 35-59) -6.7 13.5 19.2 2.0 54.9 15.4 40.4 -10.1 63.8 -19.5 79

 Other changes in volume account

80 Total other volume changes -47.6 15.4 80.9 37.9 -72.5 29.4 -185.0 -81.9 -6.5 -87.3 80

81 Disaster losses -0.0 0.0 0.0 0.0 -0.2 0.0 0.0 -0.3 -0.1 -0.2 81

82 Other volume changes -70.1 -27.1 32.5 11.1 -161.1 -8.5 -217.0 -68.9 -82.7 -88.6 82

83 Less: Statistical discrepancy (lines 33-79) (3) -22.5 -42.4 -48.4 -26.8 -88.8 -38.0 -32.0 12.7 -76.4 -1.5 83

 Revaluation account

84 Nonfinancial assets 5.0 9.6 8.8 12.0 11.1 10.9 -0.2 6.5 11.3 17.0 84

85 Structures (nonresidential) 5.7 8.4 8.4 9.0 10.0 7.6 0.8 8.1 13.3 17.8 85

86 Equipment -0.4 1.4 0.3 3.3 1.8 3.2 0.1 -0.4 -1.8 -0.2 86

87 Intellectual property products -0.3 -0.2 0.1 -0.3 -0.8 0.1 -1.1 -1.3 -0.3 -0.6 87

88 Financial assets 171.4 70.4 0.3 34.6 307.2 -80.7 342.0 146.0 272.3 -28.0 88

89 Corporate equities 175.4 65.3 -12.2 26.6 286.0 -83.8 347.3 131.2 255.2 -18.1 89

90 Mutual fund shares -4.5 0.6 5.1 5.1 12.4 -0.7 -8.0 8.7 14.7 7.1 90

91 U.S. direct investment abroad 0.5 4.5 7.3 2.8 8.8 3.8 2.8 6.1 2.4 -17.1 91

92 Liabilities 165.2 88.8 -33.6 74.8 233.1 -158.3 302.8 190.6 281.6 -68.5 92

93 Corporate equity issues 88.8 45.1 -54.9 37.0 84.5 -105.8 170.2 136.0 113.0 -26.6 93

94 Mutual fund shares 22.8 27.3 -6.5 21.9 61.6 -31.6 27.2 32.6 90.8 1.3 94

95 Foreign direct investment in the United States 1.9 -0.3 -1.8 -0.8 -1.0 -5.0 5.4 -9.6 4.9 -20.0 95

96 Equity in noncorporate business 0.7 0.5 0.5 0.3 0.8 -0.1 0.3 0.3 0.2 -0.0 96

97 Pension fund reserves 51.0 16.2 29.0 16.4 87.1 -15.8 99.8 31.4 72.6 -23.1 97

98 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 98

99 Changes in net worth due to nominal holding gains/losses 11.2 -8.8 42.6 -28.1 85.2 88.4 39.0 -38.1 1.9 57.5 99

 Changes in balance sheet account

100 Change in net worth (lines 30+33+80+99) -30.9 14.2 129.3 22.2 19.9 128.7 -115.9 -97.7 7.5 -23.0 100

 Balance sheet account (end of period)

101 Total assets 10267.1 11705.5 12869.7 14028.9 15290.9 16026.5 17113.1 18471.7 20165.8 21484.4 101

102 Nonfinancial assets (4) 355.8 402.0 445.9 495.4 547.5 592.1 613.8 639.9 675.8 720.7 102

103 Structures (nonresidential) 210.9 236.3 260.3 284.6 311.9 336.7 349.1 367.5 388.7 415.6 103

104 Equipment 130.8 149.8 167.1 189.1 210.1 225.4 230.9 235.2 247.0 263.7 104

105 Intellectual property products 14.1 15.9 18.5 21.7 25.5 30.0 33.8 37.2 40.1 41.4 105
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

106 Financial assets 9911.3 11303.4 12423.8 13533.6 14743.4 15434.4 16499.3 17831.8 19490.0 20763.7 106

107 Monetary gold 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 11.1 107

108 Currency and deposits 278.4 324.5 304.7 335.1 400.5 386.9 376.8 352.6 340.4 342.2 108

109 Debt securities 2812.6 3362.6 3758.7 4065.5 4394.1 4781.5 5247.2 5799.8 6444.0 6741.3 109

110 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 110

111 Open market paper 283.4 310.6 358.4 393.6 462.8 487.7 472.4 482.3 458.9 487.8 111

112 Treasury securities 772.4 895.1 940.9 932.5 975.9 1062.9 1255.0 1422.3 1532.2 1523.0 112

113 Agency- and GSE-backed securities (2) 478.9 653.9 805.8 892.3 973.3 1124.9 1236.1 1365.2 1551.9 1699.5 113

114 Municipal securities 428.0 472.7 464.2 465.1 471.3 492.5 511.4 564.3 652.4 661.7 114

115 Corporate and foreign bonds 673.0 823.7 952.5 1112.4 1203.0 1270.9 1391.2 1546.8 1792.7 1875.8 115

116 Nonmarketable government securities 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 116

117 Loans 4243.0 4767.8 5205.2 5678.1 6125.9 6318.6 6421.1 6655.4 6978.3 7415.7 117

118 Short term 2219.2 2460.0 2602.0 2789.2 2972.5 2955.2 2928.6 3034.2 3200.5 3459.1 118

119 Long term (mortgages) 2023.9 2307.8 2603.2 2888.9 3153.4 3363.3 3492.5 3621.2 3777.8 3956.6 119

120 Equity and investment fund shares 1259.8 1415.3 1511.3 1622.5 1967.9 1939.2 2457.0 2814.6 3480.3 3762.1 120

121 Corporate equities 904.1 1004.8 1058.0 1103.4 1386.5 1322.6 1791.1 2011.2 2509.6 2659.9 121

122 Mutual fund shares 21.3 32.1 42.8 50.7 63.3 82.3 94.4 139.7 197.2 280.0 122

123 Money market fund shares 31.6 37.3 38.9 46.4 57.1 76.4 93.8 123.8 146.1 164.6 123

124 Equity in government-sponsored enterprises (2) 8.3 9.5 11.3 13.2 13.4 11.1 10.2 10.1 11.5 13.1 124

125 U.S. direct investment abroad 30.7 35.2 44.1 51.2 72.8 73.6 77.4 88.0 116.4 101.0 125

126 Stock in Federal Reserve Banks 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 126

127 Investment in subsidiaries 261.9 294.6 314.1 355.5 372.6 370.8 387.3 438.7 496.1 539.7 127

128 Insurance, pension and standardized guarantee schemes 924.2 982.9 1117.2 1184.1 1220.2 1388.4 1320.9 1519.8 1506.5 1589.8 128

129 Other accounts receivable 382.2 439.3 515.6 637.2 623.8 608.9 665.4 678.5 729.5 901.6 129

130 Total liabilities and net worth 10267.1 11705.5 12869.7 14028.9 15290.9 16026.5 17113.1 18471.7 20165.8 21484.4 130

131 Liabilities 9930.7 11354.8 12389.8 13526.8 14768.9 15375.8 16578.3 18034.6 19721.3 21062.8 131

132 Currency and deposits 3170.3 3451.2 3622.9 3870.5 3972.6 4031.8 4058.6 4047.6 4093.3 4170.1 132

133 Debt securities 1111.2 1414.6 1699.5 1927.3 2177.4 2411.2 2596.6 2850.4 3135.8 3592.0 133

134 Agency- and GSE-backed securities (2) 625.7 804.6 972.6 1093.4 1242.9 1413.6 1559.4 1715.7 1880.9 2173.4 134

135 Corporate bonds 233.1 325.4 404.0 456.1 525.5 580.0 651.9 741.2 861.4 976.9 135

136 Commercial paper 252.4 284.6 322.9 377.7 409.1 417.7 385.3 393.5 393.4 441.6 136

137 Loans 698.6 838.2 894.8 975.7 1082.7 1033.6 1058.5 1189.4 1363.7 1418.0 137

138 Short term 696.0 835.4 891.7 972.3 1078.9 1029.3 1053.7 1184.1 1354.8 1399.3 138

139 Long term (mortgages) 2.5 2.8 3.1 3.4 3.7 4.3 4.8 5.4 8.9 18.7 139

140 Equity and investment fund shares 1106.7 1427.7 1474.7 1605.0 1893.4 1866.2 2308.0 2765.6 3416.3 3553.2 140

141 Money market fund shares 242.4 290.6 313.8 335.0 424.7 493.3 535.0 539.5 559.6 600.1 141

142 Corporate equity issues 309.1 369.0 328.9 388.9 477.0 377.9 570.3 746.5 910.7 893.9 142

143 Mutual fund shares 245.9 426.5 480.2 500.5 589.6 608.4 769.5 992.5 1375.4 1477.3 143

144 Equity in government-sponsored enterprises (2) 13.1 13.7 15.0 16.9 16.3 13.7 13.0 12.8 14.4 16.3 144

145 Foreign direct investment in the United States 28.4 22.5 14.7 1.0 4.5 -11.8 18.2 12.3 42.8 15.1 145

146 Equity in noncorporate business 3.9 5.5 5.3 5.6 4.7 4.0 4.7 5.1 6.2 5.1 146

147 Investment by parent 262.0 298.0 314.8 354.9 374.3 378.4 394.7 453.9 503.7 541.7 147

148 Stock in Federal Reserve Banks 1.8 1.9 2.0 2.1 2.2 2.4 2.7 3.1 3.4 3.7 148

149 Insurance, pension and standardized guarantee schemes 3492.5 3854.2 4236.3 4598.8 5122.9 5481.4 5966.4 6523.9 7034.4 7442.9 149

150 Other accounts payable 351.5 369.0 461.6 549.6 519.9 551.5 590.3 657.7 677.8 886.7 150

151 Net worth 336.4 350.6 479.9 502.1 522.0 650.7 534.8 437.1 444.6 421.6 151

Notes. Financial business includes depository institutions, insurance companies and pension funds, monetary authority, and other financial institutions.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.

SDRs Special Drawing Rights
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150 Historical Annuals, 1985-1994, March 12, 2015

S.7.a Federal Government

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 267.2 279.5 291.9 313.3 329.7 344.6 367.4 378.8 379.4 382.9 1

 2 Less: Consumption of fixed capital 93.3 100.3 107.5 116.3 124.2 131.1 137.9 141.4 145.3 148.3 2

 3 Equals: Net value added 173.8 179.1 184.3 197.0 205.5 213.5 229.5 237.4 234.1 234.6 3

 4 Compensation of employees (paid) 175.4 179.7 184.8 196.4 204.4 215.8 227.3 233.3 230.6 230.6 4

 5 Wages and salaries 128.2 132.0 138.4 146.2 151.1 160.4 168.8 173.5 173.7 174.0 5

 6 Employers’ social contributions 47.3 47.7 46.5 50.2 53.3 55.4 58.5 59.7 56.9 56.5 6

 7 Operating surplus, net -1.6 -0.6 -0.5 0.7 1.1 -2.3 2.1 4.1 3.5 4.0 7

 8 Net national income/Balance of primary incomes, net -160.2 -173.6 -188.7 -196.4 -217.0 -236.6 -237.5 -243.5 -251.3 -246.4 8

 9 Operating surplus, net -1.6 -0.6 -0.5 0.7 1.1 -2.3 2.1 4.1 3.5 4.0 9

10 Taxes on production and imports, receivable 46.1 43.7 45.9 49.8 49.7 50.9 61.8 63.3 66.4 79.0 10

11 Subsidies (paid) -21.0 -24.6 -30.0 -29.2 -27.1 -26.6 -27.1 -29.7 -36.3 -32.2 11

12 Property income (received) 30.1 32.1 28.2 30.2 28.9 30.4 30.0 25.7 26.6 23.6 12

13 Interest 25.6 28.8 25.1 27.4 25.9 26.9 26.2 22.2 22.8 20.0 13

14 Distributed income of corporations (dividends) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Rents on land and natural resources 4.6 3.3 3.1 2.8 3.0 3.5 3.8 3.5 3.8 3.6 15

16 Less: Uses of property income (interest paid) 213.7 224.2 232.3 247.9 269.7 289.0 304.4 306.9 311.4 320.8 16

17 Net national income/Balance of primary incomes, net -160.2 -173.6 -188.7 -196.4 -217.0 -236.6 -237.5 -243.5 -251.3 -246.4 17

18 Plus: Current taxes on income, wealth, etc. (received) 414.2 435.6 497.7 516.3 571.4 591.3 573.9 596.6 646.7 702.4 18

19 Plus: Social benefits (received) 277.9 298.9 317.4 354.8 378.0 402.0 420.6 444.0 465.5 496.2 19

20 Less: Social contributions (paid) 329.4 348.1 360.9 381.9 415.2 451.2 498.0 555.7 587.7 613.3 20

21 Plus: Other current transfers (received) 8.6 7.6 10.2 9.6 11.8 13.3 17.2 18.4 20.2 21.6 21

22 Less: Other current transfers (paid) 89.9 96.6 91.1 98.9 105.4 117.9 98.4 162.2 177.4 186.8 22

23 Equals: Disposable income, net 121.1 123.8 184.6 203.5 223.5 200.9 177.7 97.6 115.9 173.6 23

24 Less: Final consumption expenditures 316.8 336.5 347.8 360.8 380.2 401.8 423.9 430.2 427.7 427.3 24

25 Equals: Net saving -195.6 -212.7 -163.2 -157.3 -156.6 -200.9 -246.2 -332.7 -311.8 -253.7 25

 Capital account

26 Net saving less capital transfers -208.8 -225.8 -175.1 -169.5 -168.0 -217.5 -261.7 -344.0 -323.2 -264.6 26

27 Net saving -195.6 -212.7 -163.2 -157.3 -156.6 -200.9 -246.2 -332.7 -311.8 -253.7 27

28 Less: Capital transfers paid (net) 13.2 13.1 11.9 12.1 11.3 16.6 15.5 11.3 11.4 10.9 28

29 Capital formation, net 38.0 38.5 44.5 31.5 26.3 26.3 19.0 15.2 5.6 -2.9 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 132.5 141.9 152.4 148.0 151.2 158.2 156.8 156.4 150.7 145.4 30

31 Less: Consumption of fixed capital 93.3 100.3 107.5 116.3 124.2 131.1 137.9 141.4 145.3 148.3 31

32 Acquisition of nonproduced nonfinancial assets -1.2 -3.0 -0.4 -0.2 -0.7 -0.8 0.1 0.2 0.2 0.1 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -246.8 -264.3 -219.5 -201.0 -194.3 -243.8 -280.8 -359.1 -328.8 -261.7 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -246.8 -264.3 -219.5 -201.0 -194.3 -243.8 -280.8 -359.1 -328.8 -261.7 34

35 Net acquisition of financial assets 31.8 6.5 -18.0 -5.0 9.6 66.7 59.9 -22.9 -13.2 -37.0 35

36 Monetary gold and SDRs 0.9 0.3 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 36

37 Monetary gold 0.0 0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 37

38 SDR holdings 0.9 0.2 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 38

39 Currency and deposits 13.9 -1.4 -13.6 10.0 -2.3 5.7 25.7 -16.9 21.4 -24.9 39

40 Official foreign currencies 1.9 0.5 -3.8 2.5 12.6 1.3 -3.2 -2.1 0.4 -2.6 40

41 Reserve position in IMF (net) -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.1 -0.5 41

42 Currency and transferable deposits 13.0 0.4 -8.1 9.0 -14.2 4.8 27.4 -16.9 20.7 -21.7 42

43 Time and savings deposits 0.0 0.2 0.2 -0.2 -0.1 0.1 0.1 -0.7 -0.1 -0.1 43

44 Nonofficial foreign currencies -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 44

45 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 Loans 17.8 10.1 -7.9 -9.5 -3.0 33.6 10.5 -11.9 -25.6 -5.6 48

49 Short term 15.9 9.2 -2.6 -8.4 -2.3 -1.9 -4.9 -0.0 -10.2 8.4 49

50 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.5 50

51 Other loans and advances 15.9 9.2 -2.6 -8.4 -2.3 -1.9 -4.9 -0.0 -10.5 1.9 51

52 Long term (mortgages) 1.8 1.0 -5.3 -1.1 -0.7 35.6 15.4 -11.9 -15.4 -14.0 52

53 Equity and investment fund shares 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 53

54 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

55 Equity in international organizations 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 55

56 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

58 Other accounts receivable -2.3 -4.0 1.8 -6.7 13.2 25.9 22.0 6.8 -10.7 -8.3 58

59 Trade receivables 3.7 -2.3 8.0 0.1 3.2 -1.7 -4.6 -6.7 -2.4 -3.8 59

60 Taxes receivable -6.0 -1.7 -6.2 -6.8 -4.3 -5.2 -7.0 -0.4 -3.1 -6.3 60

61 Other (miscellaneous assets) 0.0 0.0 0.0 0.0 14.3 32.8 33.6 13.9 -5.3 1.7 61

62 Net incurrence of liabilities 297.8 298.0 204.4 236.9 241.1 293.2 356.1 370.5 328.8 229.0 62

63 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 63

64 Currency and deposits 0.4 0.5 0.5 0.5 0.6 1.0 0.0 0.2 0.4 0.7 64

65 Debt securities 265.7 245.9 174.2 187.9 184.4 281.8 316.6 341.8 293.2 193.5 65

66 SDR certificates 0.1 0.3 0.0 0.0 3.5 1.5 0.0 -2.0 0.0 0.0 66

67 Treasury securities including savings bonds 225.8 215.6 142.4 137.7 144.7 238.7 292.0 303.8 248.3 155.7 67

68 Federal agency securities -0.0 0.4 1.5 17.4 1.6 8.2 -13.8 0.2 7.8 0.2 68

69 Nonmarketable securities held by pension plans 39.9 29.6 30.3 32.8 34.6 33.4 38.4 39.8 37.1 37.6 69

70 Loans (mortgages) -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 70

71 Insurance, pension and standardized guarantee schemes 20.6 33.9 31.7 30.9 31.3 33.4 30.7 31.5 31.5 31.1 71

72 Insurance reserves 1.1 1.0 1.2 1.2 1.2 1.2 1.2 1.4 1.4 1.3 72

73 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 73

74 Claims of pension fund on sponsor 19.4 32.9 30.5 29.8 30.2 32.2 29.5 30.0 30.1 29.9 74

75 Other accounts payable 11.2 17.8 -1.9 17.6 24.8 -22.9 8.8 -2.9 3.6 3.6 75

76 Trade payables 10.6 14.6 7.5 8.0 8.6 -5.8 -5.5 -2.8 3.0 -0.2 76

77 Other (miscellaneous liabilities) 0.6 3.2 -9.4 9.6 16.2 -17.1 14.3 -0.1 0.7 3.9 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-62) -266.0 -291.5 -222.4 -242.0 -231.5 -226.5 -296.2 -393.4 -342.0 -266.0 78

 Other changes in volume account

79 Total other volume changes -6.4 -22.0 -13.2 -38.9 -22.9 6.1 -1.5 -35.9 8.2 5.9 79

80 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 Other volume changes 12.8 5.2 -10.3 2.1 14.3 -11.2 13.9 -1.6 21.4 10.1 81

82 Less: Statistical discrepancy (lines 33-78) (2) 19.2 27.2 2.9 41.0 37.2 -17.3 15.4 34.3 13.3 4.2 82

 Revaluation account

83 Nonfinancial assets 11.6 19.5 16.8 51.7 47.1 38.1 40.5 42.9 46.0 70.0 83

84 Structures 11.6 18.0 10.3 26.8 25.1 14.6 17.7 22.1 20.9 28.6 84

85 Equipment -7.1 -3.1 -6.0 8.4 9.2 10.9 10.7 9.7 15.4 25.3 85

86 Intellectual property products 7.1 4.5 12.4 16.5 12.8 12.6 12.1 11.1 9.6 16.1 86

87 Financial assets 2.1 2.1 3.1 -1.1 -0.4 1.6 0.1 -0.8 0.0 1.3 87

88 Monetary gold and SDRs 0.8 0.9 1.4 -0.5 -0.2 0.8 0.1 -0.4 -0.0 0.6 88

89 Currency and deposits 1.3 1.3 1.7 -0.6 -0.2 0.8 0.0 -0.4 0.0 0.7 89

90 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 90

91 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 91

92 Liabilities 0.6 0.6 1.0 -0.4 -0.2 0.5 0.0 -0.3 -0.0 0.4 92

93 SDR allocations 0.6 0.6 1.0 -0.4 -0.2 0.5 0.0 -0.3 -0.0 0.4 93

94 Changes in net worth due to nominal holding gains/losses 13.1 21.0 18.9 51.0 46.8 39.1 40.6 42.4 46.0 70.9 94

 Changes in balance sheet account

95 Change in net worth (lines 29+33+79+94) -202.1 -226.8 -169.3 -157.4 -144.0 -172.3 -222.6 -337.5 -269.0 -187.9 95

 Balance sheet account (end of period)

96 Total assets 1543.8 1618.8 1665.0 1738.6 1820.6 1957.9 2075.7 2109.2 2168.0 2205.5 96

97 Nonfinancial assets (3) 1170.1 1231.2 1292.8 1376.2 1450.4 1515.5 1574.9 1632.8 1684.2 1751.4 97

98 Structures 527.5 550.4 567.1 597.4 624.6 641.6 661.1 686.5 711.2 742.5 98

99 Equipment 296.4 315.6 332.1 355.9 380.8 408.2 431.9 451.3 468.1 488.1 99

100 Intellectual property products 346.2 365.2 393.6 422.9 445.1 465.8 481.9 495.1 504.9 520.7 100

101 Financial assets 373.7 387.6 372.2 362.4 370.2 442.4 500.7 476.4 483.8 454.1 101

102 Monetary gold and SDRs 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 102

103 Monetary gold 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 103

104 SDR holdings 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 104
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Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

105 Currency and deposits 55.0 54.8 42.7 52.3 49.7 56.1 82.0 64.6 86.1 61.8 105

106 Official foreign currencies 5.8 7.8 7.4 8.2 13.2 19.6 18.3 18.5 19.2 19.2 106

107 Reserve position in IMF (net) 12.0 11.8 11.4 9.8 9.1 9.1 9.6 11.9 11.9 12.1 107

108 Currency and transferable deposits 34.0 32.8 21.4 32.1 25.6 25.4 50.9 31.7 52.2 27.8 108

109 Time and savings deposits 1.2 1.4 1.7 1.4 1.3 1.4 1.6 0.9 0.8 0.7 109

110 Nonofficial foreign currencies 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 110

111 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 111

112 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112

113 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 113

114 Loans 251.2 258.0 242.8 217.4 209.4 243.1 251.0 239.0 227.5 222.1 114

115 Short term 197.9 203.6 193.8 169.3 162.1 160.2 152.7 152.7 142.5 151.1 115

116 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 6.9 116

117 Other loans and advances 197.9 203.6 193.8 169.3 162.1 160.2 152.7 152.7 142.2 144.2 117

118 Long term (mortgages) 53.3 54.4 49.1 48.0 47.3 82.9 98.3 86.4 85.0 71.0 118

119 Equity and investment fund shares 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 119

120 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 120

121 Equity in international organizations 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 121

122 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 123

124 Other accounts receivable 46.3 51.0 59.9 65.2 82.0 111.8 134.7 140.9 136.7 134.3 124

125 Trade receivables 35.0 32.6 40.6 40.7 43.9 42.1 37.5 30.8 28.4 24.7 125

126 Taxes receivable 11.3 18.4 19.3 24.5 23.8 22.5 16.4 15.5 18.9 18.6 126

127 Other (miscellaneous assets) 0.0 0.0 0.0 0.0 14.3 47.1 80.7 94.6 89.3 91.1 127

128 Total liabilities and net worth 1543.8 1618.8 1665.0 1738.6 1820.6 1957.9 2075.7 2109.2 2168.0 2205.5 128

129 Liabilities 2594.2 2895.9 3111.6 3342.5 3568.5 3878.2 4218.6 4589.6 4917.4 5142.8 129

130 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 130

131 Currency and deposits 13.3 13.8 14.2 14.7 15.3 16.3 16.3 16.5 17.0 17.6 131

132 Debt securities 1766.7 2012.5 2186.7 2374.6 2559.0 2840.8 3157.4 3499.1 3792.3 3985.8 132

133 SDR certificates 4.7 5.0 5.0 5.0 8.5 10.0 10.0 8.0 8.0 8.0 133

134 Treasury securities including savings bonds 1586.6 1802.2 1944.6 2082.3 2227.0 2465.8 2757.8 3061.6 3309.9 3465.6 134

135 Federal agency securities 3.2 3.6 5.1 22.6 24.2 32.4 18.6 18.8 26.6 26.7 135

136 Nonmarketable securities held by pension plans 172.1 201.7 232.0 264.7 299.3 332.6 371.0 410.8 447.9 485.5 136

137 Loans (mortgages) 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 137

138 Insurance, pension and standardized guarantee schemes 750.7 790.9 822.3 852.5 883.2 915.5 945.5 977.7 1008.9 1039.9 138

139 Insurance reserves 17.8 18.9 20.1 21.2 22.4 23.6 24.8 26.2 27.6 28.9 139

140 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 140

141 Claims of pension fund on sponsor 732.9 772.0 802.2 831.3 860.8 891.9 920.7 951.4 981.3 1011.0 141

142 Other accounts payable 58.1 72.7 81.4 94.0 104.6 98.7 92.4 89.6 92.4 92.2 142

143 Trade payables 58.1 72.7 80.2 88.2 96.8 91.0 85.5 82.7 85.6 85.4 143

144 Other (miscellaneous liabilities) 0.0 0.0 1.2 5.8 7.8 7.7 7.0 6.9 6.8 6.8 144

145 Net worth -1050.4 -1277.2 -1446.5 -1603.9 -1748.0 -1920.3 -2142.9 -2480.4 -2749.4 -2937.3 145

Note. The Federal government accounts exclude Federal employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.

IMF International Monetary Fund

SDRs Special Drawing Rights
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S.8.a State and Local Governments

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Gross value added 355.2 382.5 411.4 445.5 488.1 532.9 569.2 611.7 643.4 676.7 1

 2 Less: Consumption of fixed capital 46.9 50.3 54.1 57.8 61.9 66.7 70.9 74.1 78.3 82.9 2

 3 Equals: Net value added 308.3 332.2 357.3 387.8 426.2 466.2 498.3 537.6 565.0 593.7 3

 4 Compensation of employees (paid) 305.4 329.7 354.7 383.4 420.6 460.6 492.6 531.7 557.7 585.9 4

 5 Wages and salaries 245.7 265.2 284.7 305.9 330.0 358.7 380.0 398.5 415.3 435.5 5

 6 Employers’ social contributions 59.7 64.5 69.9 77.5 90.7 102.0 112.6 133.3 142.4 150.5 6

 7 Operating surplus, net 2.9 2.6 2.7 4.4 5.6 5.6 5.7 5.8 7.3 7.8 7

 8 Net national income/Balance of primary incomes, net 273.0 289.1 309.0 334.8 358.6 385.9 400.3 415.9 432.6 465.4 8

 9 Operating surplus, net 2.9 2.6 2.7 4.4 5.6 5.6 5.7 5.8 7.3 7.8 9

10 Taxes on production and imports, receivable 262.1 279.7 301.6 324.6 349.1 374.1 395.3 420.1 436.8 466.3 10

11 Subsidies (paid) -0.3 -0.3 -0.3 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 -0.3 11

12 Property income (received) 55.6 59.0 58.5 61.2 66.6 68.5 67.2 64.0 61.1 63.5 12

13 Interest 50.1 52.6 53.0 56.6 62.3 64.1 62.4 58.8 56.0 58.2 13

14 Distributed income of corporations (dividends) 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.5 0.6 0.8 14

15 Rents on land and natural resources 5.4 6.2 5.3 4.4 4.1 4.2 4.5 4.8 4.5 4.5 15

16 Less: Uses of property income (interest paid) 47.3 51.8 53.5 55.1 62.3 61.8 67.6 73.6 72.2 71.8 16

17 Net national income/Balance of primary incomes, net 273.0 289.1 309.0 334.8 358.6 385.9 400.3 415.9 432.6 465.4 17

18 Plus: Current taxes on income, wealth, etc. (received) 101.6 109.9 120.5 128.1 138.9 145.0 149.0 159.7 168.0 178.0 18

19 Plus: Social benefits (received) 4.9 6.0 7.2 8.4 9.0 10.0 11.6 13.1 14.1 14.5 19

20 Less: Social contributions (paid) 77.3 84.3 90.7 98.5 109.3 127.7 156.5 180.0 195.2 206.7 20

21 Plus: Other current transfers (received) 89.8 99.8 94.4 103.1 111.6 126.4 150.7 172.8 189.8 204.1 21

22 Equals: Disposable income, net 392.1 420.3 440.4 475.9 508.8 539.7 555.0 581.5 609.3 655.3 22

23 Less: Final consumption expenditures 371.8 399.9 428.3 458.9 501.3 546.2 580.1 619.0 646.5 682.2 23

24 Equals: Net saving 20.3 20.4 12.1 17.0 7.4 -6.5 -25.1 -37.5 -37.2 -27.0 24

 Capital account

25 Net saving less capital transfers 42.2 43.4 34.4 40.1 30.8 18.5 0.7 -10.6 -9.0 3.0 25

26 Net saving 20.3 20.4 12.1 17.0 7.4 -6.5 -25.1 -37.5 -37.2 -27.0 26

27 Less: Capital transfers paid (net) -22.0 -23.0 -22.3 -23.1 -23.4 -25.0 -25.8 -26.9 -28.2 -29.9 27

28 Capital formation, net 43.5 49.6 52.3 57.0 62.2 71.2 72.3 71.4 68.7 72.1 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 87.3 96.2 102.2 110.4 119.2 132.2 137.3 139.7 141.2 148.8 29

30 Less: Consumption of fixed capital 46.9 50.3 54.1 57.8 61.9 66.7 70.9 74.1 78.3 82.9 30

31 Acquisition of nonproduced nonfinancial assets 3.1 3.7 4.2 4.3 4.9 5.7 5.8 5.8 5.9 6.2 31

32 Net lending (+) or borrowing (-), capital account (lines 25-28) -1.3 -6.1 -17.9 -16.9 -31.4 -52.7 -71.6 -82.0 -77.7 -69.1 32

 Financial account

33 Net lending (+) or borrowing (-) (line 32) -1.3 -6.1 -17.9 -16.9 -31.4 -52.7 -71.6 -82.0 -77.7 -69.1 33

34 Net acquisition of financial assets 179.5 85.4 84.8 43.9 70.0 49.4 59.9 6.7 18.0 7.2 34

35 Currency and deposits 8.1 4.8 6.3 1.0 -2.4 -4.3 -4.6 -5.0 0.4 8.2 35

36 Currency and transferable deposits 1.1 2.5 -0.8 3.0 0.4 -1.3 6.4 1.2 1.9 1.8 36

37 Time and savings deposits 7.0 2.3 7.1 -2.0 -2.8 -3.0 -11.1 -6.1 -1.5 6.4 37

38 Debt securities 126.8 58.4 49.1 31.0 39.2 34.0 43.7 1.7 38.0 -57.2 38

39 Open market paper 0.0 0.0 0.2 0.5 0.9 2.4 5.0 5.2 3.7 4.4 39

40 Treasury securities 92.7 57.1 41.9 6.6 4.8 41.5 25.0 -17.4 29.6 -77.8 40

41 Agency- and GSE-backed securities (1) 30.5 -1.4 5.2 22.8 30.9 -11.6 11.7 12.2 0.1 11.6 41

42 Municipal securities 0.6 0.8 -0.2 0.1 0.5 0.8 0.0 -1.1 -1.0 -0.9 42

43 Corporate and foreign bonds 3.0 2.0 2.0 1.0 2.0 1.0 2.0 2.9 5.6 5.4 43

44 Loans 30.8 16.6 20.6 2.9 22.5 11.0 10.2 4.6 5.3 -12.9 44

45 Short term 21.0 4.8 11.9 -1.0 16.1 5.7 6.7 4.6 10.7 -15.1 45

46 Long term (mortgages) 9.8 11.8 8.7 4.0 6.3 5.3 3.5 -0.0 -5.4 2.2 46

47 Equity and investment fund shares 0.0 0.2 0.5 1.0 2.4 5.2 2.8 5.6 7.7 13.8 47

48 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 4.1 48

49 Corporate equities 0.0 0.2 0.5 0.9 1.1 1.8 0.0 1.0 0.8 1.5 49

50 Mutual fund shares 0.0 0.0 0.0 0.1 1.4 3.5 2.8 4.6 5.1 8.2 50

51 Other accounts receivable 13.8 5.4 8.1 7.9 8.3 3.4 7.8 -0.2 -33.4 55.3 51

52 Trade receivables 3.8 0.9 3.8 4.8 3.5 2.4 2.4 3.1 3.6 5.4 52

53 Taxes receivable 4.0 2.7 0.5 3.6 3.5 -0.5 1.8 -0.1 -2.7 1.3 53

54 Other (miscellaneous assets) 6.0 1.7 3.9 -0.5 1.4 1.5 3.6 -3.3 -34.3 48.6 54
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

55 Net incurrence of liabilities 162.5 62.7 83.0 70.9 74.9 82.4 131.2 60.3 105.1 8.7 55

56 Debt securities (municipals) 155.4 72.8 92.8 53.7 47.6 46.2 90.8 16.6 58.7 -45.9 56

57 Short term 2.2 -0.1 -0.8 2.0 3.3 2.9 6.9 -1.1 1.8 -2.2 57

58 Other 153.2 72.9 93.6 51.7 44.3 43.2 83.9 17.7 56.9 -43.8 58

59 Loans (short term) 8.2 1.4 -2.4 -3.3 -0.2 0.9 0.4 -0.1 -0.7 0.4 59

60 Insurance, pension and standardized guarantee schemes -9.9 -21.0 -17.6 9.7 15.7 22.5 26.4 29.5 32.1 38.3 60

 (Claim of pension funds on sponsor)

61 Other accounts payable (trade payables) 8.7 9.5 10.1 10.8 11.8 12.9 13.7 14.3 15.0 16.0 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 34-55) 17.0 22.7 1.8 -27.0 -4.9 -33.0 -71.4 -53.6 -87.0 -1.6 62

 Other changes in volume account

63 Total other volume changes 20.9 32.5 9.1 16.4 2.2 1.1 68.7 -65.3 41.3 53.1 63

64 Disaster losses 0.0 0.0 0.0 0.0 -1.0 0.0 0.0 0.0 0.0 -2.0 64

65 Other volume changes 2.6 3.6 -10.5 26.6 -23.3 -18.5 68.5 -93.8 50.6 -12.5 65

66 Less: Statistical discrepancy (lines 32-62) (2) -18.3 -28.9 -19.6 10.1 -26.5 -19.6 -0.2 -28.4 9.3 -67.6 66

 Revaluation account

67 Nonfinancial assets 44.5 82.1 73.5 52.2 68.9 60.8 13.2 52.3 77.4 117.4 67

68 Structures 43.0 80.1 72.5 48.8 65.9 57.0 10.8 50.4 75.3 115.1 68

69 Equipment 1.2 1.8 0.5 2.5 2.1 2.9 1.9 1.4 1.5 1.3 69

70 Intellectual property products 0.3 0.3 0.6 0.9 0.8 0.8 0.5 0.5 0.6 1.0 70

71 Equity and investment fund shares 0.0 0.0 -0.1 0.1 0.6 -0.4 3.2 1.4 2.1 -0.6 71

72 Changes in net worth due to nominal holding gains/losses 44.5 82.1 73.5 52.3 69.4 60.4 16.4 53.7 79.5 116.8 72

 Changes in balance sheet account

73 Change in net worth (lines 28+32+63+72) 107.6 158.0 117.0 108.8 102.4 80.0 85.8 -22.3 111.9 172.8 73

 Balance sheet account (end of period)

74 Total assets 2621.5 2835.0 3041.3 3190.1 3385.8 3561.0 3703.8 3829.8 3990.2 4178.1 74

75 Nonfinancial assets (3) 1935.4 2063.4 2185.0 2289.8 2415.0 2541.3 2621.0 2738.9 2879.2 3060.5 75

76 Structures 1852.0 1971.3 2085.3 2179.7 2292.4 2404.7 2473.8 2582.3 2713.7 2884.5 76

77 Equipment 65.9 73.1 78.6 86.3 95.5 106.0 113.4 119.9 126.1 134.1 77

78 Intellectual property products 17.4 19.1 21.2 23.9 27.2 30.6 33.7 36.7 39.4 41.9 78

79 Financial assets 686.2 771.6 856.3 900.2 970.8 1019.7 1082.8 1090.9 1111.0 1117.6 79

80 Currency and deposits 80.7 85.5 91.8 98.1 95.7 91.4 86.8 81.8 82.2 90.4 80

81 Currency and transferable deposits 14.8 17.3 16.5 24.9 25.2 24.0 30.4 31.6 33.5 35.3 81

82 Time and savings deposits 65.9 68.2 75.3 73.3 70.5 67.5 56.4 50.2 48.7 55.1 82

83 Debt securities 381.4 439.8 488.9 519.9 559.1 593.1 636.9 638.6 676.6 619.4 83

84 Open market paper 0.0 0.0 0.2 0.7 1.6 4.0 9.0 14.1 17.9 22.3 84

85 Treasury securities 258.7 315.7 357.6 364.3 369.1 410.6 435.5 418.2 447.8 370.0 85

86 Agency- and GSE-backed securities (1) 105.1 103.7 108.9 131.7 162.6 151.0 162.7 174.9 175.0 186.6 86

87 Municipal securities 9.6 10.4 10.2 10.3 10.8 11.6 11.6 10.5 9.5 8.6 87

88 Corporate and foreign bonds 8.0 10.0 12.0 13.0 15.0 16.0 18.0 20.9 26.5 31.9 88

89 Loans 148.3 165.0 185.6 188.5 211.0 222.0 232.2 236.7 242.0 229.1 89

90 Short term 74.1 79.0 90.9 89.9 106.0 111.8 118.4 123.1 133.7 118.6 90

91 Long term (mortgages) 74.2 86.0 94.7 98.6 105.0 110.2 113.7 113.7 108.3 110.5 91

92 Equity and investment fund shares 0.0 0.2 0.7 1.8 4.8 9.6 15.6 22.6 32.4 45.5 92

93 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 5.9 93

94 Corporate equities 0.0 0.2 0.7 1.7 3.3 4.8 6.3 7.8 9.3 10.6 94

95 Mutual fund shares 0.0 0.0 0.0 0.1 1.5 4.8 9.4 14.9 21.3 29.1 95

96 Other accounts receivable 75.8 81.1 89.3 91.8 100.2 103.6 111.4 111.2 77.8 133.0 96

97 Trade receivables 41.3 42.2 46.0 50.8 54.2 56.7 59.1 62.2 65.8 71.2 97

98 Taxes receivable 26.8 29.5 30.0 33.7 37.1 36.6 38.4 38.3 35.6 36.9 98

99 Other (miscellaneous assets) 7.7 9.4 13.3 7.4 8.8 10.3 13.9 10.6 -23.6 24.9 99

100 Total liabilities and net worth 2621.5 2835.0 3041.3 3190.1 3385.8 3561.0 3703.8 3829.8 3990.2 4178.1 100

101 Liabilities 825.8 881.2 970.5 1010.5 1103.8 1199.0 1256.0 1404.3 1452.9 1467.9 101
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1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

102 Debt securities (municipals) 651.1 724.9 817.7 884.0 931.6 977.8 1068.6 1085.2 1143.9 1097.9 102

103 Short term 20.5 20.4 19.6 21.5 24.8 27.8 34.7 33.6 35.4 33.2 103

104 Other 630.6 704.5 798.1 862.5 906.8 950.0 1033.9 1051.6 1108.5 1064.7 104

105 Loans (short term) 26.8 27.3 24.9 9.0 8.8 9.6 10.0 9.9 9.2 9.6 105

106 Insurance, pension and standardized guarantee schemes 49.6 21.3 10.1 -11.1 23.0 58.3 10.4 127.8 103.5 148.0 106

 (Claim of pension funds on sponsor)

107 Other accounts payable (trade payables) 98.2 107.7 117.8 128.6 140.4 153.3 167.0 181.4 196.3 212.4 107

108 Net worth 1795.8 1953.8 2070.8 2179.6 2282.0 2362.0 2447.8 2425.5 2537.4 2710.2 108

Note. The state and local government accounts exclude state and local employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.
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S.9.a Rest of the World 

Billions of dollars

1985 1986 1987 1988 1989 1990 1991 1992 1993 1994

 

 Current account

 1 Foreign income from U.S. 530.2 575.0 641.3 712.4 774.3 815.6 755.4 830.7 888.9 1020.2 1

 2 U.S. imports of goods and services 417.2 452.9 508.7 554.0 591.0 629.7 623.5 667.8 720.0 813.4 2

 3 U.S. income payments to rest of world 87.3 94.4 105.8 129.5 152.9 154.2 136.8 121.0 123.6 160.7 3

 4 Current taxes and trans. payments to rest of world 25.7 27.8 26.8 29.0 30.4 31.7 -4.9 41.9 45.4 46.1 4

 5 Less: Foreign outlays to U.S. 415.9 432.3 487.2 596.7 682.0 740.7 763.3 785.1 810.4 905.5 5

 6 U.S. exports of goods and services 303.2 321.0 363.9 444.6 504.3 551.9 594.9 633.1 654.8 720.9 6

 7 U.S. income receipts from rest of world 112.7 111.3 123.3 152.1 177.7 188.8 168.4 152.1 155.6 184.5 7

 8 Equals: Net saving (current external balance) 114.3 142.7 154.1 115.7 92.4 74.9 -7.9 45.6 78.5 114.7 8

 Capital account

 9 Net saving 114.3 142.7 154.1 115.7 92.4 74.9 -7.9 45.6 78.5 114.7 9

10 Less: Net capital transfers -0.1 -0.1 -0.1 -0.1 -0.3 -7.4 -5.3 1.3 -0.8 -1.2 10

11 Less: Acquisition of nonproduced nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 11

12 Net lending (+) or borrowing (-), capital account (lines 9-10-11) 114.4 142.8 154.2 115.9 92.7 82.3 -2.6 44.3 79.4 116.0 12

 Financial account

13 Net lending (+) or borrowing (-) (line 12) 114.4 142.8 154.2 115.9 92.7 82.3 -2.6 44.3 79.4 116.0 13

14 Net acquisition of U.S. financial assets 113.6 166.7 175.7 180.2 148.0 142.4 61.7 172.7 272.5 287.6 14

15 Monetary gold and SDRs 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 15

16 Monetary gold 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 16

17 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Currency and deposits 21.0 2.9 39.0 15.0 -23.3 19.6 13.1 38.8 53.0 118.7 18

19 Currency 3.3 2.4 3.9 4.1 3.7 16.6 12.8 11.1 16.6 20.6 19

20 Transferable deposits 1.5 2.7 -1.4 -0.5 0.2 -0.3 -1.4 1.5 -0.3 1.8 20

21 Time deposits 3.2 -2.5 0.9 3.4 6.2 -0.7 -0.2 8.4 23.2 11.7 21

22 Net interbank items due from U.S. banks 13.0 0.2 35.6 8.0 -33.5 4.0 2.0 17.8 13.5 84.6 22

23 Debt securities 60.1 84.1 60.4 86.5 59.0 37.3 62.9 92.3 145.1 130.7 23

24 Open market paper -0.2 -0.1 1.0 2.8 0.8 -2.0 0.6 1.6 5.9 6.0 24

25 Treasury securities 19.6 38.2 35.6 62.0 29.8 27.0 33.7 55.6 73.3 65.0 25

26 Agency- and GSE-backed securities (1) 4.3 7.0 5.0 6.7 15.1 6.3 10.2 18.3 35.4 21.7 26

27 Municipal securities 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 27

28 Corporate bonds 36.1 38.9 18.6 14.7 13.1 5.8 18.2 16.6 30.2 37.8 28

29 Loans (short term) 8.1 24.9 2.7 21.8 32.4 46.6 -46.2 25.7 1.1 -10.4 29

30 Security repurchases 0.8 3.4 2.2 -0.1 10.1 -3.4 1.2 20.9 16.9 -12.0 30

31 Loans to U.S. corporate business 7.4 21.6 0.5 21.9 22.4 50.1 -47.3 4.9 -15.8 1.6 31

32 Equity and investment fund shares 24.2 53.3 73.5 54.9 77.3 32.5 33.6 14.2 72.3 47.0 32

33 Money market fund shares 0.0 0.0 0.0 0.0 0.4 0.8 0.8 0.8 0.8 0.8 33

34 Corporate equities 4.4 17.9 15.0 -2.9 8.6 -16.7 3.8 -17.5 10.4 -11.5 34

35 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 5.9 11.1 9.8 11.6 35

36 Foreign direct investment in the United States 19.7 35.4 58.5 57.7 68.3 48.5 23.2 19.8 51.4 46.1 36

37 Other accounts receivable 0.2 1.4 0.1 2.1 2.6 6.3 -1.8 1.7 1.0 1.5 37

38 Net incurrence of liabilities 31.9 57.0 38.4 32.3 103.5 83.9 61.0 82.8 204.3 164.5 38

39 SDR holdings 0.9 0.2 0.5 -0.1 0.5 0.2 0.2 -2.3 0.5 0.4 39

40 Currency and deposits 9.9 26.1 -1.0 18.4 53.7 30.0 -31.4 -5.0 -17.3 47.2 40

41 Official foreign currencies 3.9 0.9 -7.6 5.1 25.2 2.7 -6.3 -4.3 0.8 -5.3 41

42 Reserve position in IMF (net) -0.9 -1.5 -2.1 -1.0 -0.5 -0.7 0.4 2.7 0.0 -0.5 42

43 U.S. private deposits 7.1 27.6 8.6 14.7 29.1 27.9 -26.5 -3.4 -18.5 52.9 43

44 Nonofficial foreign currencies -0.1 -1.0 0.1 -0.3 -0.1 0.1 1.0 0.1 0.3 0.1 44

45 Debt securities 10.0 14.6 11.2 15.6 17.9 33.7 21.8 22.4 73.3 -11.2 45

46 Commercial paper 6.2 11.5 3.8 8.7 13.1 12.3 6.8 5.6 -9.6 -26.1 46

47 Bonds 3.8 3.1 7.4 6.9 4.9 21.4 15.0 16.8 82.9 14.9 47

48 Loans (short term) -8.8 -4.4 0.2 -19.9 -25.9 -22.6 -8.4 -5.9 -5.8 -12.0 48

49 Security repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Other loans and advances -6.0 -3.9 -1.4 -6.4 -7.6 -7.0 -9.8 -0.6 -4.2 -1.4 50

51 Depository institution loans n.e.c. -2.8 -0.5 1.6 -13.6 -18.2 -15.7 1.4 -5.4 -1.6 -10.6 51

52 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52
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53 Equity and investment fund shares 20.6 20.5 26.9 16.8 55.4 41.1 77.0 72.4 150.8 137.5 53

54 Corporate equities 3.7 1.2 -2.1 1.1 17.2 7.4 30.7 32.4 63.4 48.1 54

55 U.S. government equity in IBRD, etc. 1.5 1.5 1.2 1.3 1.2 1.3 1.5 1.4 1.1 1.4 55

56 U.S. direct investment abroad 14.8 19.1 31.2 16.1 38.8 32.8 39.1 44.5 84.0 80.2 56

57 Investment by holding companies 0.5 -1.3 -3.5 -1.7 -1.8 -0.4 5.7 -5.8 2.3 7.8 57

58 Other accounts payable -0.7 0.0 0.6 1.6 1.7 1.6 1.9 1.2 2.8 2.6 58

 Addendum:

59 Net lending (+) or borrowing (-), financial account (lines 14-38) 81.6 109.7 137.3 147.9 44.5 58.5 0.7 89.9 68.2 123.1 59

 Other changes in volume account

60 Total other volume changes -144.7 -33.1 -16.9 32.1 -48.2 -23.8 6.5 148.7 -11.2 13.3 60

61 Other volume changes -111.9 0.0 0.0 0.0 0.0 0.0 3.3 103.1 0.0 6.2 61

62 Less: Statistical discrepancy (lines 12-59) (2) 32.8 33.1 16.9 -32.1 48.2 23.8 -3.3 -45.6 11.2 -7.1 62

 Revaluation account

63 Financial assets 42.0 41.8 -27.0 28.3 96.7 -48.1 62.1 -1.2 18.4 -68.7 63

64 SDR allocations 0.6 0.6 1.0 -0.4 -0.2 0.5 0.0 -0.3 -0.0 0.4 64

65 Currency and deposits 0.0 -0.1 0.6 -2.2 -0.1 0.2 0.1 0.1 -0.1 -0.1 65

66 Debt securities 10.0 10.7 -10.7 -6.2 45.8 -21.4 12.3 -23.7 -6.8 -70.9 66

67 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 67

68 Treasury securities 6.5 4.8 -8.7 -4.5 40.1 -12.4 4.3 -11.5 0.9 -27.0 68

69 Agency- and GSE-backed securities 1.2 0.5 -1.7 -0.9 -2.1 -4.1 -1.1 -5.5 -3.5 -18.1 69

70 Corporate bonds 2.3 5.3 -0.3 -0.9 7.7 -4.9 9.2 -6.7 -4.2 -25.8 70

71 Equity and investment fund shares 31.4 30.5 -17.8 37.2 51.1 -27.4 49.6 22.7 25.3 1.9 71

72 Corporate equities 27.5 28.5 -9.2 27.7 53.3 -16.4 44.8 35.1 21.8 23.3 72

73 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.5 1.8 0.0 73

74 Foreign direct investment in the United States 3.9 2.1 -8.6 9.5 -2.2 -11.0 4.9 -13.0 1.7 -21.5 74

75 Other accounts receivable 0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 75

76 Liabilities 21.7 47.8 93.0 85.5 61.8 24.9 38.4 -26.6 192.5 76.1 76

77 SDR holdings 0.8 0.9 1.4 -0.5 -0.2 0.8 0.1 -0.4 -0.0 0.6 77

78 Currency and deposits 5.0 8.6 29.9 -0.6 10.7 8.9 2.2 -4.5 23.3 54.9 78

79 Official foreign currencies 2.3 3.5 3.4 -0.8 2.0 4.9 0.0 -1.7 0.7 5.0 79

80 Reserve position in IMF (net) 1.3 1.3 1.7 -0.6 -0.2 0.8 0.0 -0.4 0.0 0.7 80

81 U.S. private deposits 1.4 3.8 24.8 0.8 9.0 3.2 2.1 -2.4 22.6 49.2 81

82 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 82

83 Debt securities (corporate bonds) -2.3 0.8 -0.4 40.4 3.9 -4.1 -3.3 3.2 27.2 2.9 83

84 Equity and investment fund shares 18.2 37.4 62.3 46.0 47.4 19.2 39.5 -24.9 142.0 17.7 84

85 Corporate equities 14.7 26.9 24.4 32.9 51.5 -7.2 50.7 2.9 166.2 34.8 85

86 U.S. direct investment abroad 3.5 10.6 37.9 13.2 -4.1 26.4 -11.2 -27.8 -24.3 -17.1 86

87 Other accounts payable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 87

88 Changes in net worth due to nominal holding gains/losses 20.2 -6.0 -120.0 -57.2 34.9 -72.9 23.7 25.4 -174.1 -144.9 88

 Changes in balance sheet account

89 Change in net worth (lines 12+60+88) -10.0 103.7 17.3 90.8 79.4 -14.5 27.6 218.5 -105.9 -15.6 89

 Financial balance sheet account (end of period) (3)

90 Total financial assets 927.2 1135.6 1284.3 1492.8 1737.5 1831.8 1955.6 2230.2 2510.6 2735.8 90

91 SDR allocations 5.4 6.0 7.0 6.6 6.4 7.0 7.0 6.7 6.7 7.2 91

92 Currency and deposits 80.3 83.1 122.6 135.3 112.0 131.7 145.0 287.0 339.9 458.5 92

93 Currency 33.3 35.7 39.5 43.7 47.4 64.0 76.8 87.9 104.5 125.1 93

94 Transferable deposits 21.2 23.9 22.5 21.9 22.1 21.8 20.4 21.9 21.6 23.5 94

95 Time deposits 43.3 40.8 42.3 43.4 49.5 49.0 48.9 169.5 192.6 204.2 95

96 Net interbank items due from U.S. banks -17.5 -17.3 18.3 26.4 -7.1 -3.1 -1.1 7.7 21.2 105.8 96
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97 Debt securities 363.9 458.7 508.5 588.7 693.4 709.3 784.5 853.2 980.8 1040.7 97

98 Open market paper 8.2 8.0 9.0 11.8 12.7 10.7 11.3 12.9 18.8 24.9 98

99 Treasury securities 226.4 269.4 296.3 353.8 423.7 438.4 476.3 520.3 594.6 632.6 99

100 Agency- and GSE-backed securities (1) 17.5 25.0 28.3 34.2 47.2 49.4 58.5 71.4 103.2 106.8 100

101 Municipal securities 1.2 1.4 1.6 1.8 2.0 2.2 2.4 2.6 2.8 3.0 101

102 Corporate bonds 110.7 154.9 173.2 187.0 207.8 208.7 236.0 246.0 261.4 273.5 102

103 Loans (short term) 63.5 88.5 91.2 113.0 145.5 192.1 145.9 171.7 172.8 168.7 103

104 Security repurchases 7.5 10.9 13.1 13.0 23.1 19.7 20.9 41.7 58.6 46.6 104

105 Loans to U.S. corporate business 56.0 77.6 78.1 100.0 122.3 172.4 125.1 129.9 114.2 122.1 105

106 Equity and investment fund shares 384.0 467.9 523.6 615.6 744.0 749.1 832.4 869.3 966.8 1015.7 106

107 Money market fund shares 0.0 0.0 0.0 0.0 0.4 1.2 2.0 2.7 3.5 4.3 107

108 Corporate equities 136.8 183.2 189.0 213.8 275.7 242.6 291.2 308.8 341.0 352.8 108

109 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 5.8 17.4 29.0 40.6 109

110 Foreign direct investment in the United States 247.2 284.7 334.6 401.8 467.9 505.3 533.4 540.3 593.3 618.0 110

111 Other accounts receivable 30.0 31.4 31.5 33.6 36.3 42.6 40.8 42.5 43.5 45.0 111

112 Total liabilities and net worth 927.2 1135.6 1284.3 1492.8 1737.5 1831.8 1955.6 2230.2 2510.6 2735.8 112

113 Total liabilities 1010.7 1115.4 1246.8 1364.6 1529.9 1638.7 1734.8 1791.0 2177.3 2418.0 113

114 SDR holdings 7.3 8.4 10.3 9.6 10.0 11.0 11.2 8.5 9.0 10.0 114

115 Currency and deposits 175.2 209.9 238.5 256.6 321.0 359.8 330.6 321.1 327.1 429.2 115

116 Official foreign currencies 12.9 17.3 13.1 17.4 44.6 52.2 45.9 40.0 41.5 41.2 116

117 Reserve position in IMF (net) 12.0 11.7 11.3 9.7 9.0 9.1 9.5 11.8 11.8 12.0 117

118 U.S. private deposits 148.5 179.9 213.3 228.7 266.8 297.9 273.5 267.7 271.8 373.9 118

119 Nonofficial foreign currencies 1.9 0.9 0.8 0.7 0.6 0.6 1.6 1.7 1.9 2.0 119

120 Debt securities 94.4 109.8 120.6 176.5 198.4 227.9 246.4 271.9 372.5 364.1 120

121 Commercial paper 33.9 37.4 41.2 49.9 63.0 75.3 82.1 78.4 68.8 42.7 121

122 Bonds 60.4 72.4 79.3 126.6 135.4 152.6 164.3 193.5 303.7 321.4 122

123 Loans (short term) 241.2 236.8 237.1 217.2 191.3 168.8 160.4 154.4 148.7 136.9 123

124 Security repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 124

125 Other loans and advances 105.6 101.8 100.6 94.1 86.5 79.7 69.9 69.3 65.2 63.9 125

126 Depository institution loans n.e.c. 135.6 135.0 136.6 123.0 104.8 89.1 90.5 85.1 83.5 73.0 126

127 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 127

128 Equity and investment fund shares 482.7 540.6 629.7 692.6 795.4 855.6 968.9 1016.4 1298.6 1453.8 128

129 Corporate equities 44.4 72.4 94.7 128.7 197.3 197.6 279.0 314.3 543.9 626.8 129

130 U.S. government equity in IBRD, etc. 13.9 15.4 16.6 17.9 19.1 20.4 21.9 23.3 24.5 25.9 130

131 U.S. direct investment abroad 407.8 437.5 506.6 535.9 570.7 629.8 657.7 674.4 723.5 786.6 131

132 Investment by holding companies 16.6 15.3 11.8 10.1 8.3 7.9 10.3 4.5 6.8 14.6 132

133 Other accounts payable 10.0 10.0 10.6 12.2 13.9 15.5 17.4 18.6 21.4 24.0 133

134 Net worth (external account) -83.5 20.2 37.4 128.2 207.6 193.2 220.8 439.2 333.3 317.8 134

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes nonfinancial assets, including nonproduced nonfinancial assets.

IBRD International Bank for Reconstruction and Development

IMF International Monetary Fund

SDRs Special Drawing Rights

n.e.c. Not elsewhere classified