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

RFor use at 12:00 noon, eastern time

June 9, 2016

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

First Quarter 2016

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

i

Household Net Worth and Growth of Domestic Nonfinancial Debt

Year

Household 

net worth1

Growth of domestic nonfinancial debt2

Total Households Businesses

State and 

local gov’ts

Federal

government

2006 66,095 8.4 10.5 9.8 3.9 3.9

2007 66,577 8.1 7.1 12.4 5.5 4.7

2008 56,214 5.8 -0.1 6.0 0.6 21.4

2009 58,094 3.5 0.3 -4.1 4.0 20.4

2010 62,316 4.4 -0.6 -0.7 2.3 18.5

2011 63,545 3.5 -0.5 2.8 -1.7 10.8

2012 69,598 5.0 1.9 4.7 -0.2 10.1

2013 79,383 3.9 1.7 4.8 -1.3 6.7

2014 84,201 4.4 3.1 6.1 -0.5 5.4

2015 87,250 4.6 2.9 6.8 1.9 5.0

2014: Q1 80,623 4.2 2.1 6.4 -1.7 5.7

Q2 82,218 4.3 5.2 5.3 0.1 3.5

Q3 82,513 4.5 3.0 6.1 -1.7 6.0

Q4 84,201 4.4 2.2 6.1 1.5 5.9

2015: Q1 86,019 2.7 1.9 7.7 4.3 -1.1

Q2 86,500 4.5 4.1 8.3 1.0 2.4

Q3 85,069 2.2 1.7 5.1 1.7 0.2

Q4 87,250 8.8 3.7 5.3 0.5 18.5

2016: Q1 88,087 4.8 2.7 7.9 2.2 4.6

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

 seasonally adjusted

2. Percentage changes calculated as seasonally adjusted flow divided by previous quarter’s seasonally adjusted level, shown 

 at an annual rate.

The net worth of households and nonprofits rose to 

$88.1 trillion during the first quarter of 2016. The value 

of directly and indirectly held corporate equities 

decreased $160 billion and the value of real estate rose

$498 billion.

Domestic nonfinancial debt outstanding was 

$45.7 trillion at the end of the first quarter of 2016, of 

which household debt was $14.3 trillion, nonfinancial 

business debt was $13.0 trillion, and total government 

debt was $18.3 trillion.

Domestic nonfinancial debt growth was 4.8 percent at 

a seasonally adjusted annual rate in the first quarter of 

2016, down from an annual rate of 8.8 percent in the 

previous quarter.

Household debt increased at an annual rate of 

2.7 percent in the first quarter of 2016. Consumer credit 

grew 6.1 percent, while mortgage debt (excluding 

charge-offs) grew 1.6 percent at an annual rate.

Nonfinancial business debt rose at an annual rate of

7.9 percent in the first quarter, up from an annual rate of 

5.3 percent in the previous quarter.

State and local government debt rose at an annual rate 

of 2.2 in the first quarter of 2016, up from an annual

growth rate of 0.5 percent in the previous quarter.

Federal government debt increased 4.6 percent at a 

seasonally adjusted annual rate in the first quarter of 

2016.

Recent Developments in Household Net Worth and 

Domestic Nonfinancial Debt
ii
iii

Topic Description

Variable annuity mutual funds The mutual fund sectors have been expanded to include 

variable annuity mutual funds, which are funding vehicles for 

variable annuities. Variable annuity mutual funds were 

previously included as part of corporate equities held in the 

separate accounts of life insurers (shown on life insurance 

sector tables F.116, L.116, F.116.s, and L.116.s), but are now 

included in the mutual fund sector (tables F.122 and L.122) and 

the money market mutual fund sector (tables F.121 and L.121). 

This aligns the treatment of variable annuity mutual funds with

the fund data reported by the Investment Company Institute 

(ICI). Assets held in variable annuity mutual funds are shown as 

memo items on the mutual fund and money market mutual fund 

sector tables. 

Mutual funds’ holdings of debt 

securities reported at market value

Debt securities held by the mutual fund sector (tables F.122 and 

L.122) are now reported at market value, consistent with the 

international standards described in the System of National 

Accounts (SNA2008).

Mutual funds by investment 

objective

New memo items have been added to the mutual fund tables

(tables F.122 and L.122) to show financial assets by investment 

objective: domestic equity funds, world equity funds, hybrid 

funds, taxable bond funds, and municipal bond funds. Data are 

available beginning in 1991:Q1. 

Life insurance company separate 

accounts

Data for life insurance company separate accounts (tables 

F.116.s and L.116.s) have been extended back to 1987:Q4. 

Previously, detail on life insurance companies general accounts 

and separate accounts was only available beginning 1997:Q4.

Treatment of CREF assets CREF assets are now treated as variable annuity mutual funds 

and are included in the holdings of mutual fund shares by state 

and local government employee defined contribution retirement 

funds (tables F.120.c and L.120.c) and private defined 

contribution pension plans (tables F.118.c and L.118.c). 

Previously, these tables showed the financial instrument detail 

underlying CREF’s variable annuity mutual funds. 

Nonfinancial corporate business 

benchmark

Assets of the nonfinancial corporate business sector (tables 

F.103, L.103, B.103, and R.103) have been revised from 

2014:Q1 forward, to reflect new data from the Internal Revenue 

Service (IRS) Statistics of Income (SOI) for 2014.

Release Highlights

First Quarter 2016
iv
v

Financial Accounts of the United States

The Statistical Release Z.1, “Financial Accounts of the 

United States,” is organized into the following sections:

■ Matrices summarizing flows and levels across 

sectors, tables on debt growth, net national 

wealth, gross domestic product (GDP), national 

income, saving, and so on

■ Flows of financial assets and liabilities, by 

sector and by financial instrument 

■ Levels of financial assets and liabilities, by 

sector and by financial instrument

■ Balance sheets, including nonfinancial assets,

and changes in net worth for households and 

nonprofit organizations, nonfinancial corporate 

businesses, and nonfinancial noncorporate 

businesses

Supplementary tables providing equity detail of 

the household and nonprofit organization sector

and data on nonprofit organizations

■ Integrated Macroeconomic Accounts

The Integrated Macroeconomic Accounts (IMA) relate 

production, income, saving, and capital formation from 

the national income and product accounts (NIPA) to 

changes in net worth from the “Financial Accounts” on a 

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

the Federal Reserve Board and the Bureau of Economic 

Analysis and are based on international guidelines and 

terminology as defined in the System of National 

Accounts (SNA2008).

Federal Reserve Board staff have taken many steps over 

the past several years to conform the “Financial 

Accounts” with the SNA guidelines. Nonetheless, a few 

important differences remain. In particular, in the 

“Financial Accounts”:

■ The purchase of consumer durables is treated as 

investment rather than as consumption.

■ Nonfinancial noncorporate businesses (which 

are often small businesses) are shown in a 

separate sector rather than being included in the 

household sector.

■ Most debt securities are recorded at book value 

rather than market value.

Concepts of Level and Flow in the SNA 

and the Financial Accounts

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

stock or outstanding) measures the value of the asset or

liability in existence at a point in time. In the “Financial 

Accounts,” the levels are reported as of the end of each

calendar quarter. In the SNA2008, the change in the

level from one period to the next is called the “economic 

flow,” and can be decomposed into three broad 

elements: transactions, which measure the exchange of 

assets; revaluations, which measure changes in market 

value of untraded assets; and other changes in volume, 

which measure discontinuities or breaks in time series 

due to disaster losses or a change in source data or 

definition.

In the “Financial Accounts,” “flows” refer to the 

exchange of assets, corresponding to the SNA definition 

of transactions, that is, “flow tables” in the “Financial 

Accounts” are equivalent to “transaction tables” in the 

SNA terminology. In practice, other volume changes are 

relatively rare, and revaluations occur only for series 

carried at market value (such as corporate equities and 

mutual fund shares), so for many series the change in the 

level is equal to the flow.

Growth Rates

Growth rates calculated from levels will include 

revaluations and other changes in volume. To isolate the 

effect of transactions on growth of a given asset or 

liability, users should calculate the ratio of the flow in a 

given period to the level in the preceding period. 

Growth rates in table D.1 are calculated by dividing 

seasonally adjusted flows from table D.2 by seasonally 

adjusted levels at the end of the previous period from 

table D.3. Growth rates calculated from changes in 

unadjusted levels may differ from those in table D.1.

Seasonal Adjustment

Seasonal factors are recalculated and updated every 

year, and these revised factors are first published in the 

September release of second-quarter data. All series that 

exhibit significant seasonal patterns are adjusted. The 

seasonal factors are generated using the X-12-ARIMA 

seasonal adjustment program from the U.S. Census 

Bureau, estimated using the most recent 10 years of 

data. Because the effects of the recent financial crisis

resulted in large outliers in some series that would have 

distorted the estimated seasonal factors, seasonal factors 

for some series were extrapolated using pre-crisis data. 

Seasonally adjusted levels shown in table D.3 are 

derived by carrying forward year-end levels by 

seasonally adjusted flows.

Explanatory Notes
vi

Data Revisions

Data shown for the most recent quarters are based on 

preliminary and potentially incomplete information. A 

summary list of the most recent data available for each 

sector is provided in a table following these notes. 

Nonetheless, when source data are revised or estimation 

methods are improved, all data are subject to revision. 

There is no specific revision schedule; rather, data are 

revised on an ongoing basis. In each release of the 

“Financial Accounts,” major revisions are highlighted at

the beginning of the publication.

Discrepancies

The data in the “Financial Accounts” come from a large 

variety of sources and are subject to limitations and 

uncertainty due to measurement errors, missing 

information, and incompatibilities among data sources. 

The size of this uncertainty cannot be quantified, but its 

existence is acknowledged by the inclusion of 

“statistical discrepancies” for various sectors and 

financial instruments.

The discrepancy for a given sector is defined as the 

difference between the aggregate value of the sector’s 

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

financial instrument category, the discrepancy is defined 

as the difference between the measurement of funds 

raised through the financial instrument and funds 

disbursed through that instrument. The relative size of 

the statistical discrepancy is one indication of the quality 

of the underlying source data. Note that differences in 

seasonal adjustment procedures sometimes result in 

quarterly discrepancies that partially or completely 

offset each other in the annual data.

Financial Accounts Guide 

Substantially more detail on the construction of the 

“Financial Accounts” is available in the Financial 

Accounts Guide, which provides interactive, online 

documentation for each data series. The tools and 

descriptions in the guide are designed to help users 

understand the structure and content of the “Financial 

Accounts.” The guide allows users to search for series, 

browse tables of data, and identify links among series 

within these accounts. It also provides descriptions of 

each of the published tables and information on the 

source data underlying each series. Data on some of our 

data submissions to international organizations are also 

available on the guide page. There is also a link to the 

Enhanced Financial Accounts, a new initiative that 

includes data that is not part of the core “Financial 

Accounts”. 

The guide is not part of the quarterly release, but it is 

continually updated and kept consistent with the most 

recently published data. The guide and the data from the 

“Financial Accounts” are available free of charge online:

www.federalreserve.gov/apps/fof

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

according to a unique string of patterned numbers and 

letters. The series structure page of the guide provides a 

breakdown of what the letters and numbers represent in 

the series mnemonics. The relationships between 

different components of a series (for example, levels, 

seasonally adjusted annual rate flows, unadjusted flows, 

revaluations, other changes in volume, seasonal factors, 

and so on) are also described on the series structure 

page.

Production Schedule

The “Financial Accounts” are published online and in 

print four times per year, about 10 weeks following the 

end of each calendar quarter. The publication and the 

guide are available online:

www.federalreserve.gov/releases/Z1

This website provides coded tables and historical annual 

tables beginning in 1945 that correspond with the tables 

published in this release. It also includes compressed 

ASCII files of quarterly data for seasonally adjusted 

flows, unadjusted flows, outstandings, balance sheets, 

debt (tables D.1, D.2, and D.3), supplementary tables, 

and the IMA. 

In addition, the data are available as customizable 

datasets through the Federal Reserve Board’s Data 

Download Program at:

www.federalreserve.gov/datadownload/default.htm

Print Subscription Information

The Federal Reserve Board charges a fee for 

subscriptions to print versions of statistical releases.

Inquiries regarding print versions should be directed to

the following office:

Publications Services, Stop 127

Board of Governors

of the Federal Reserve System

20th Street and Constitution Avenue, N.W.

Washington, DC 20551

(202) 452-3245
vii

Sector Table Available at time of publication

National income and product 

accounts (NIPA)

(various tables)

Second estimate, seasonally adjusted, for 2016:Q1. Unadjusted 

flows through 2014:Q4 for the government sectors.

Households and nonprofit

organizations sector

(tables F.101 and L.101)

Estimates for this sector are largely residuals and are derived 

from data for other sectors. Availability of data depends on 

schedules for other sectors. Data for consumer credit, which are 

estimated directly, are available through 2016:Q1. The source 

for nonprofit organizations data (tables F.101.a and L.101.a) is 

the Internal Revenue Service Statistics of Income (IRS/SOI). 

Data for nonprofit organizations are available for 1987 through 

2000.

Nonfinancial corporate business 

(tables F.103 and L.103)

Quarterly Financial Report (QFR) of the Census Bureau through 

2016:Q1; IRS/SOI data through 2014; securities offerings, 

mortgages, bank loans, commercial paper, and other loans 

through 2016:Q1. Corporate farm data through 2015.

Nonfinancial noncorporate business

(tables F.104 and L.104)

IRS/SOI data through 2013; bank and finance company loans, 

and mortgage borrowing through 2016:Q1. Noncorporate farm 

data through 2015.

Federal government

(tables F.106 and L.106)

Data from the Monthly Treasury Statement of Receipts and 

Outlays, Monthly Statement of the Public Debt and Treasury 

data for loan programs and the Troubled Assets Relief Program 

(TARP) through 2016:Q1.

State and local governments

(tables F.107 and L.107)

Gross offerings and retirements of municipal securities, deposits 

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

through 2016:Q1; total financial assets through 2013:Q2 from 

the Census Bureau; breakdown of financial assets through 

2011:Q2 from the comprehensive annual financial reports of 

state and local governments.

Monetary authority

(tables F.109 and L.109)

All data through 2016:Q1.

U.S.-chartered depository 

institutions

(tables F.111 and L.111)

All data through 2016:Q1.

Foreign banking offices in U.S.

(tables F.112 and L.112)

All data through 2016:Q1.

Banks in U.S.-affiliated areas

(tables F.113 and L.113)

All data through 2016:Q1.

Credit unions

(tables F.113 and L.113)

All data through 2016:Q1.

Property-casualty insurance 

companies

(tables F.115 and L.115)

Preliminary data through 2016:Q1.

Description of Most Recent Data Available
viii

Sector Table Available at time of publication

Life insurance companies

(tables F.116 and L.116)

Preliminary data through 2016:Q1.

Private pension funds

(tables F.118 and L.118)

Internal Revenue Service/Department of Labor Form 5500 data 

through 2013. Investment Company Institute data through 

2015:Q4.

Federal government retirement 

funds

(tables F.119 and L.119)

Data from the Monthly Treasury Statement of Receipts and 

Outlays, the Thrift Savings Plan, and the National Railroad 

Retirement Investment Trust through 2016:Q1.

State and local government 

employee retirement funds

(tables F.120 and L.120)

Detailed annual survey data through 2014:Q2 and quarterly 

survey data through 2015:Q4 from the Census Bureau. 

Investment Company Institute data through 2015:Q4.

Money market mutual funds

(tables F.121 and L.121)

All data through 2016:Q1.

Mutual funds

(tables F.122 and L.122)

All data through 2016:Q1.

Closed-end funds

(tables F.123 and L.123)

All data through 2016:Q1.

Exchange-traded funds

(tables F.123 and L.123)

All data through 2016:Q1.

Government sponsored enterprises 

(GSEs)

(tables F.124 and L.124)

Data for Fannie Mae, Freddie Mac, FICO, and REFCORP, 

Farmer Mac, FCS, and FHLB through 2016:Q1. FHLB Advances

and Equity current through 2016:Q1.

Agency- and GSE-backed 

mortgage pools

(tables F.125 and L.125)

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

2016:Q1. 

Issuers of asset-backed securities 

(ABSs)

(tables F.126 and L.126)

All data for private mortgage pools, consumer credit, business 

loans, student loans, consumer leases, and trade credit 

securitization through 2016:Q1.

Finance companies

(tables F.127 and L.127)

All data through 2016:Q1.

Real estate investment trusts 

(REITs)

(tables F.128 and L.128)

Data from SNL Financial through 2016:Q1. 

Security brokers and dealers

(tables F.129 and L.129)

Data for firms filing FOCUS and FOGS reports through 

2016:Q1.

Holding companies

(table F.130 and L.130)

All data through 2016:Q1.

Funding corporations

(tables F.131 and L.131)

Estimates for this sector are largely residuals and are derived 

from data for other sectors.

Rest of the world

(tables F.132 and L.132)

NIPA estimates, bank Call Reports, and Treasury International 

Capital System data through 2016:Q1. Balance of payments and 

International Investment Position data through 2015:Q4.
ix

Title Table Page

Summaries

Flow of Funds Matrix—Flows 1

Flow of Funds Matrix—Assets and Liabilities 2

Debt Growth by Sector D.1 3

Borrowing by Sector D.2 4

Debt Outstanding by Sector D.3 5

Net National Wealth B.1 6

Distribution of Gross Domestic Product F.2 7

Distribution of National Income F.3 8

Saving and Investment F.4 9

Net Capital Transfers F.5 10

Derivation of Measures of Personal Saving F.6 11

Assets and Liabilities of the Personal Sector L.6 12

Title

Flows Levels

Table Page Table Page

Sectors

Domestic Nonfinancial F.100 13 L.100 75

Households and Nonprofit Organizations F.101 14 L.101 76

Nonfinancial Business F.102 15 L.102 77

Nonfinancial Corporate Business F.103 16 L.103 78

Nonfinancial Noncorporate Business F.104 17 L.104 79

General Government F.105 18 L.105 80

Federal Government F.106 19 L.106 81

State and Local Governments F.107 20 L.107 82

Domestic Financial F.108 21 L.108 83

Monetary Authority F.109 22 L.109 84

Private Depository Institutions F.110 23 L.110 85

U.S.-Chartered Depository Institutions F.111 24 L.111 86

Foreign Banking Offices in U.S. F.112 25 L.112 87

Banks in U.S.-Affiliated Areas F.113 26 L.113 88

Credit Unions F.114 26 L.114 88

List of Data Tables
x

Sectors

Property-Casualty Insurance Companies F.115 27 L.115 89

Life Insurance Companies F.116 28 L.116 90

Life Insurance Companies: General Accounts F.116.g 29 L.116.g 91

Life Insurance Companies: Separate Accounts F.116.s 29 L.116.s 91

Private and Public Pension Funds F.117 30 L.117 92

Private Pension Funds F.118 31 L.118 93

Private Pension Funds: Defined Benefit Plans F.118.b 32 L.118.b 94

Private Pension Funds: Defined Contribution 

Plans F.118.c 32 L.118.c 94

Federal Government Employee Retirement Funds F.119 33 L.119 95

Federal Government Employee Retirement Funds: 

Defined Benefit Plans F.119.b 34 L.119.b 96

Federal Government Employee Retirement Funds: 

Defined Contribution Plans F.119.c 35 L.119.c 96

State and Local Government Employee Retirement 

Funds F.120 35 L.120 97

State and Local Government Employee 

Retirement Funds: Defined Benefit Plans F.120.b 36 L.120.b 98

State and Local Government Employee 

Retirement Funds: Defined Contribution Plans F.120.c 36 L.120.c 98

Money Market Mutual Funds F.121 37 L.121 99

Mutual Funds F.122 37 L.122 99

Closed-End and Exchange-Traded Funds F.123 38 L.123 100

Government-Sponsored Enterprises F.124 39 L.124 101

Agency- and GSE-Backed Mortgage Pools F.125 39 L.125 101

Issuers of Asset-Backed Securities F.126 40 L.126 102

Finance Companies F.127 41 L.127 103

Real Estate Investment Trusts (REITs) F.128 42 L.128 104

Equity Real Estate Investment Trusts F.128.e 43 L.128.e 105

Mortgage Real Estate Investment Trusts F.128.m 43 L.128.m 105

Security Brokers and Dealers F.129 44 L.129 106

Holding Companies F.130 45 L.130 107

Funding Corporations F.131 46 L.131 108

Rest of the World F.132 47 L.132 109
xi

Instruments

U.S. Official Reserve Assets and SDR Allocations F.200 48 L.200 110

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 48 L.201 110

U.S. Deposits in Foreign Countries F.202 48 L.202 110

Net Interbank Transactions F.203 49 L.203 111

Checkable Deposits and Currency F.204 50 L.204 112

Time and Savings Deposits F.205 51 L.205 113

Money Market Mutual Fund Shares F.206 51 L.206 113

Federal Funds and Security Repurchase Agreements F.207 52 L.207 114

Debt Securities F.208 53 L.208 115

Open Market Paper F.209 54 L.209 116

Treasury Securities F.210 55 L.210 117

Agency- and GSE-Backed Securities F.211 56 L.211 118

Municipal Securities F.212 57 L.212 119

Corporate and Foreign Bonds F.213 58 L.213 120

Loans F.214 59 L.214 121

Depository Institution Loans Not Elsewhere Classified F.215 60 L.215 122

Other Loans and Advances F.216 61 L.216 123

Total Mortgages F.217 62 L.217 124

Home Mortgages F.218 63 L.218 125

Multifamily Residential Mortgages F.219 63 L.219 125

Commercial Mortgages F.220 64 L.220 126

Farm Mortgages F.221 64 L.221 126

Consumer Credit F.222 65 L.222 127

Corporate Equities F.223 66 L.223 128

Mutual Fund Shares F.224 66 L.224 128

Trade Credit F.225 67 L.225 129

Life Insurance Reserves F.226 67 L.226 129

Pension Entitlements F.227 68 L.227 130

Taxes Payable by Businesses F.228 68 L.228 130

Proprietors' Equity in Noncorporate Business F.229 68 L.229 130

Direct Investment F.230 69 L.230 131
xii

Total Miscellaneous Financial Claims F.231 70 L.231 132

Identified Miscellaneous Financial Claims—Part I F.232 71 L.232 133

Identified Miscellaneous Financial Claims—Part II F.233 72 L.233 134

Unidentified Miscellaneous Financial Claims F.234 73 L.234 135

Sector Discrepancies F.7 74

Instrument Discrepancies F.8 74

Title

Balance Sheet Reconciliation

Table Page Table Page

Balance Sheet and Changes in Net Worth

Households and Nonprofit Organizations B.101 136 R.101 139

Nonfinancial Corporate Business B.103 137 R.103 140

Nonfarm Noncorporate Business B.104 138 R.104 141

Title

Flows Levels

Table Page Table Page

Supplementary Tables

Balance Sheet of Households and Nonprofit Organizations

with Equity Detail B.101.e 142

Nonprofit Organizations F.101.a 143 L.101.a 144

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy—Current Account S.1.a 145

Selected Aggregates for Total Economy and Sectors S.2.a 146

Households and Nonprofit Institutions Serving Households S.3.a 148

Nonfinancial Noncorporate Business S.4.a 151

Nonfinancial Corporate Business S.5.a 154

Financial Business S.6.a 157

Central Bank S.61.a 160

 Private Depository Institutions S.62.a 162

 Insurance Companies S.63.a 165

 Pension Funds S.64.a 168

 Other Financial Business S.65.a 171

Federal Government S.7.a 174

State and Local Governments S.8.a 177

Rest of the World S.9.a 180
Summary

1

Z.1, June 9, 2016 Flow of Funds Matrix for 2015

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic Instrument

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

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

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

1 Gross saving less net cap. transfers -- 2378.1 -- 2172.0 -- 184.8 -- -367.0 -- 4367.9 -- 251.7 -- 465.4 -- 5084.9 -- 2 Capital consumption -- 1465.3 -- 1633.4 -- 249.5 -- 272.7 -- 3620.9 -- 196.4 -- -- -- 3817.3 -- 3 Net saving (1 less 2) -- 912.8 -- 538.6 -- -64.6 -- -639.7 -- 747.0 -- 55.3 -- 465.4 -- 1267.7 -- 4 Gross investment (5 plus 11) 2806.7 -- 2151.1 -- 150.4 -- -292.7 -- 4815.5 -- 349.2 -- 133.6 -- 5298.3 -- -213.35 Capital expenditures 1897.8 -- 2157.2 -- 357.2 -- 233.1 -- 4645.2 -- 238.0 -- 0.0 -- 4883.2 -- 201.76 Consumer durables 1251.2 -- -- -- -- -- -- -- 1251.2 -- -- -- -- -- 1251.2 -- -- 7 Residential 506.3 -- 103.4 -- 4.3 -- 1.4 -- 615.4 -- -0.3 -- -- -- 615.2 -- -- 8 Nonresidential 148.5 -- 1915.1 -- 343.1 -- 262.6 -- 2669.3 -- 238.3 -- -- -- 2907.6 -- -- 9 Inventory change -- -- 109.2 -- -- -- -- -- 109.2 -- -- -- -- -- 109.2 -- -- 10 Nonproduced nonfinancial assets -8.3 -- 29.4 -- 9.8 -- -30.9 -- 0.0 -- -- -- 0.0 -- -- -- -- 11 Net lending (+) or net borrowing (-) 909.0 -- -6.1 -- -206.8 -- -525.7 -- 170.3 -- 111.1 -- 133.6 -- 415.0 -- -415.012 Total financial assets 1310.9 -- 1231.7 -- 168.4 -- 237.8 -- 2948.7 -- 1237.6 -- 462.4 -- 4648.7 -- -- 13 Total liabilities -- 401.9 -- 1237.8 -- 375.2 -- 763.5 -- 2778.4 -- 1126.4 -- 328.9 -- 4233.7 -- 14 U.S. official reserve assets -- -- -- -- -- -- -6.4 0.0 -6.4 0.0 0.1 -- 0.0 -6.3 -6.3 -6.3 -- 15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- -- -- -0.0 -- -0.0 1.3 -- -- -- 1.3 -0.0 -1.317 Foreign deposits -14.8 -- -19.6 -- -- -- -- -- -34.5 -- -13.4 -- -- -232.3 -47.9 -232.3 -184.418 Interbank claims -- -- -- -- -- -- -- -- -- -- -401.8 -501.4 -90.2 -- -492.0 -501.4 -9.419 Checkable dep. and currency 150.7 -- 24.1 -- -9.2 -- 109.9 -- 275.6 -- -14.1 292.2 31.0 -- 292.5 292.2 -0.320 Time and savings deposits 459.3 -- 37.4 -- 10.1 -- 0.0 -- 506.9 -- -78.5 406.2 -22.2 -- 406.2 406.2 -- 21 Money market fund shares -54.1 -- 23.5 -- 18.3 -- -- -- -12.4 -- 41.2 30.1 1.3 -- 30.1 30.1 -- 22 Fed. funds and security RPs -- -- 4.0 -- 15.1 -- -- -- 19.2 -- 64.2 -22.9 -142.5 46.6 -59.1 23.8 82.923 Debt securities 286.5 -5.1 -3.4 412.5 74.4 55.7 -0.0 724.6 357.5 1187.7 552.7 163.2 439.6 -1.1 1349.8 1349.8 -- 24 Open market paper -1.2 -- -2.0 -5.4 -0.7 -- -- -- -3.9 -5.4 18.3 -42.7 -3.4 59.3 11.1 11.1 -- 25 Treasury securities 220.6 -- -1.6 -- 64.1 -- -- 724.4 283.0 724.4 385.0 -- 56.4 -- 724.4 724.4 -- 26 Agency- and GSE-backed sec. 189.7 -- -2.0 -- -6.3 -- 0.0 0.2 181.4 0.2 12.5 220.4 26.7 -- 220.6 220.6 -- 27 Municipal securities -7.7 -5.1 2.2 15.9 1.3 55.7 -- -- -4.2 66.6 64.0 -- 6.8 -- 66.6 66.6 -- 28 Corporate and fgn. bonds -114.9 -- -- 402.0 16.1 -- -0.0 -- -98.8 402.0 72.9 -14.5 353.0 -60.4 327.1 327.1 -- 29 Loans -57.4 404.3 6.7 397.4 20.6 0.3 106.0 0.0 75.9 801.9 728.5 2.0 23.3 23.8 827.7 827.7 -- 30 Depository inst. loans n.e.c. -- 100.6 -- 176.6 -- -- -- -- -- 277.2 281.2 -18.7 -- 22.7 281.2 281.2 -- 31 Other loans and advances -50.6 -76.3 -- -25.3 -- 0.3 3.3 -- -47.3 -101.3 -59.0 17.2 23.3 1.1 -83.0 -83.0 -- 32 Mortgages -3.4 148.4 7.5 246.1 20.6 -- -0.7 0.0 24.0 394.5 373.9 3.5 -- -- 398.0 398.0 -- 33 Consumer credit -3.4 231.6 -0.8 -- -- -- 103.4 -- 99.2 231.6 132.4 -- -- -- 231.6 231.6 -- 34 Corporate equities -85.4 -- -- -562.7 8.6 -- -0.0 -- -76.8 -562.7 62.1 207.2 -168.2 172.5 -182.9 -182.9 -- 35 Mutual fund shares 129.4 -- 7.4 -- 4.4 -- -- -- 141.2 -- -41.6 95.3 -4.3 -- 95.3 95.3 -- 36 Trade credit -- 1.2 37.4 25.6 1.7 39.0 -0.3 12.1 38.8 77.9 8.7 8.4 9.9 -2.0 57.5 84.4 26.937 Life insurance reserves 33.9 -- -- -- -- -- -- -0.1 33.9 -0.1 10.6 44.6 -- -- 44.5 44.5 -- 38 Pension entitlements 398.1 -- -- -- -- -- -- -- 398.1 -- -- 398.1 -- -- 398.1 398.1 -- 39 Taxes payable -- -- -- 6.7 8.6 -- 14.2 -- 22.8 6.7 -- -13.6 -- -- 22.8 -6.8 -29.640 Equity in noncorp. business 23.9 -- -- 20.9 -- -- -- -- 23.9 20.9 -- 3.0 -- -- 23.9 23.9 -- 41 U.S. direct investment abroad -- -- 300.1 -- -- -- -- -- 300.1 -- 20.0 -- -- 320.0 320.0 320.0 -- 42 Foreign direct investment in U.S. -- -- -- 349.0 -- -- -- -- -- 349.0 -- 35.8 384.8 -- 384.8 384.8 -- 43 Miscellaneous 40.8 1.5 814.1 588.4 15.8 280.2 14.4 26.9 885.1 897.0 297.5 -21.9 -- 7.6 1182.6 882.7 -299.944 Sector discrepancies (1 less 4) -428.6 -- 20.9 -- 34.4 -- -74.4 -- -447.6 -- -97.5 -- 331.8 -- -213.3 -- -213.3General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

2

Z.1, June 9, 2016 Flow of Funds Matrix for 2015

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

Households State Domestic Domestic Instrument

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

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

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

1 Total financial assets 70778.6 -- 23131.4 -- 3139.3 -- 2128.5 -- 99177.7 -- 85900.8 -- 22800.4 -- 207878.9 -- -8071.82 Total liabilities and equity -- 14520.0 -- 56407.1 -- 5573.0 -- 17639.9 -- 94140.0 -- 88446.7 -- 17220.4 -- 199807.1 -- 3 Total liabilities -- 14520.0 -- 23945.8 -- 5573.0 -- 17639.9 -- 61678.8 -- 81145.2 -- 10467.2 -- 153291.2 -- 4 U.S. official reserve assets -- -- -- -- -- -- 86.9 48.9 86.9 48.9 30.5 -- 48.9 106.4 166.4 155.4 -11.05 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- -- -- 5.2 5.2 -- 6 Treasury currency -- -- -- -- -- -- -- 25.3 -- 25.3 47.6 -- -- -- 47.6 25.3 -22.27 Foreign Deposits 30.5 -- 49.0 -- -- -- -- -- 79.5 -- 11.1 -- -- 588.3 90.6 588.3 497.88 Interbank claims -- -- -- -- -- -- -- -- -- -- 2051.5 2364.2 354.9 -- 2406.4 2364.2 -42.29 Checkable dep. and currency 1309.3 -- 1008.5 -- 131.9 -- 338.1 -- 2787.8 -- 335.6 3829.7 705.1 -- 3828.5 3829.7 1.210 Time and savings deposits 8346.7 -- 1056.4 -- 330.0 -- 1.8 -- 9734.9 -- 644.1 10854.9 475.9 -- 10854.9 10854.9 -- 11 Money market fund shares 1066.1 -- 668.3 -- 183.8 -- -- -- 1918.1 -- 722.1 2754.7 114.5 -- 2754.7 2754.7 -- 12 Fed. Funds and security RPs -- -- 25.7 -- 147.2 -- -- -- 172.8 -- 2545.6 2930.7 669.8 793.9 3388.2 3724.6 336.413 Debt securities 4545.6 218.0 190.1 5526.1 1383.7 2966.6 0.5 15165.6 6119.9 23876.4 23276.5 13116.6 10296.3 2699.7 39692.7 39692.7 -- 14 Open market paper 13.7 -- 54.4 176.5 65.5 -- -- -- 133.6 176.5 703.8 320.1 104.1 444.8 941.5 941.5 -- 15 Treasury securities 1123.5 -- 97.4 -- 686.7 -- -- 15141.1 1907.6 15141.1 7085.5 -- 6148.0 -- 15141.1 15141.1 -- 16 Agency- and GSE-backed sec. 539.8 -- 11.8 -- 431.6 -- 0.0 24.6 983.2 24.6 6272.3 8144.4 913.5 -- 8169.0 8169.0 -- 17 Municipal securities 1596.5 218.0 26.5 534.3 14.9 2966.6 -- -- 1637.9 3719.0 1993.8 -- 87.2 -- 3719.0 3719.0 -- 18 Corporate and fgn. Bonds 1272.0 -- -- 4815.3 185.1 -- 0.5 -- 1457.6 4815.3 7221.1 4652.0 3043.5 2254.9 11722.2 11722.2 -- 19 Loans 965.8 14012.1 119.5 7252.2 229.5 16.9 1265.3 0.0 2580.1 21281.1 21001.0 2130.4 193.9 363.5 23775.0 23775.0 -- 20 Depository inst. loans n.e.c. -- 325.8 -- 2111.3 -- -- -- -- -- 2437.1 3206.4 441.3 -- 328.0 3206.4 3206.4 -- 21 Other loans and advances 842.6 437.4 -- 1296.8 -- 16.9 199.1 -- 1041.8 1751.1 2005.1 1454.2 193.9 35.5 3240.8 3240.8 -- 22 Mortgages 79.0 9714.3 76.0 3844.0 229.5 -- 116.5 0.0 501.0 13558.3 13292.3 234.9 -- -- 13793.2 13793.2 -- 23 Consumer credit 44.2 3534.6 43.6 -- -- -- 949.7 -- 1037.4 3534.6 2497.2 -- -- -- 3534.6 3534.6 -- 24 Corporate equities 13994.9 -- -- 21727.0 181.4 -- 33.4 -- 14209.7 21727.0 15987.4 7286.6 5569.7 6753.2 35766.8 35766.8 -- 25 Mutual fund shares 6556.5 -- 235.7 -- 88.2 -- -- -- 6880.4 -- 5430.3 12897.2 586.5 -- 12897.2 12897.2 -- 26 Trade credit -- 259.4 3341.2 2634.9 184.3 861.2 48.2 262.7 3573.7 4018.1 140.9 26.3 176.9 45.1 3891.5 4089.5 198.027 Life insurance reserves 1310.6 -- -- -- -- -- -- 51.1 1310.6 51.1 205.2 1464.6 -- -- 1515.8 1515.8 -- 28 Pension entitlements 20945.5 -- -- -- -- -- -- -- 20945.5 -- -- 20945.5 -- -- 20945.5 20945.5 -- 29 Taxes payable -- -- -- 164.5 150.6 -- 181.3 -- 332.0 164.5 -- -56.1 -- -- 332.0 108.3 -223.630 Equity in noncorp. Business 10749.1 -- -- 10734.2 -- -- -- -- 10749.1 10734.2 -- 14.9 -- -- 10749.1 10749.1 -- 31 U.S. direct investment abroad -- -- 4839.1 -- -- -- -- -- 4839.1 -- 873.7 -- -- 5712.7 5712.7 5712.7 -- 32 Foreign direct investment in U.S. -- -- -- 3019.5 -- -- -- -- -- 3019.5 -- 588.3 3607.8 -- 3607.8 3607.8 -- 33 Miscellaneous 958.1 30.6 11598.0 5348.6 128.6 1728.4 173.0 2081.0 12857.7 9188.5 12592.5 7298.3 -- 157.4 25450.2 16644.2 -8806.0General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 24) and equity in noncorporate business (line 30). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
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Z.1, June 9, 2016 3

D.1 Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1981 10.2 7.1 7.2 5.5 12.9 13.6 8.0 11.8 17.2 11.6

1982 10.5 5.7 4.8 5.0 9.9 10.3 11.2 19.1 13.4 7.1

1983 12.1 11.3 10.2 12.1 9.2 8.4 11.4 18.5 13.1 7.4

1984 14.8 12.6 11.4 18.4 16.1 16.6 11.4 16.8 17.7 3.5

1985 16.1 16.8 14.6 15.9 11.0 12.6 31.8 17.7 21.1 0.6

1986 12.0 11.5 13.7 9.1 11.5 13.9 10.9 13.9 24.9 3.0

1987 9.0 9.6 13.4 4.8 7.8 8.9 12.0 8.7 15.9 3.3

1988 9.2 9.8 11.8 6.7 9.9 10.9 6.0 8.6 12.9 -1.2

1989 7.4 8.9 10.9 6.3 6.3 7.3 5.3 7.6 10.7 -2.0

1990 6.6 6.9 8.8 1.9 3.6 5.3 5.0 11.0 8.6 2.8

1991 4.7 5.5 7.0 -1.1 -2.1 -2.1 9.2 11.2 7.0 3.4

1992 4.7 5.3 6.5 1.1 -0.3 0.6 1.5 10.9 8.0 4.0

1993 5.9 6.5 5.5 7.4 3.1 5.3 5.3 8.4 10.4 15.8

1994 5.2 7.6 5.6 15.2 5.4 7.1 -3.9 5.1 13.4 -4.5

1995 4.9 7.0 4.9 14.4 5.9 6.7 -5.5 4.2 11.8 15.3

1996 5.2 6.9 6.2 9.0 5.4 5.2 -2.0 4.8 13.0 14.1

1997 5.5 6.5 6.1 5.5 8.5 8.6 4.9 1.5 12.1 10.8

1998 6.6 7.7 8.0 7.2 11.5 10.8 6.2 -0.3 19.8 4.5

1999 6.6 9.1 9.4 7.8 10.5 9.6 3.3 -0.7 16.8 1.8

2000 4.8 8.8 8.7 11.4 9.1 8.3 1.4 -6.3 11.7 7.5

2001 5.8 8.7 10.6 8.6 4.8 3.2 8.8 1.3 10.2 -2.4

2002 6.7 9.8 13.3 5.6 2.4 0.2 11.1 6.8 8.7 6.3

2003 7.7 12.1 14.5 5.3 1.0 -0.1 8.3 9.5 11.1 1.8

2004 9.2 11.7 13.5 5.6 5.8 3.3 11.4 8.3 9.5 8.6

2005 8.6 10.6 13.4 4.5 8.0 5.2 5.8 6.6 8.8 8.1

2006 8.4 10.5 11.2 5.2 9.8 7.3 3.9 3.9 10.4 21.2

2007 8.1 7.1 7.4 6.1 12.4 11.5 5.5 4.7 13.7 15.7

2008 5.8 -0.1 0.9 1.3 6.0 4.4 0.6 21.4 4.6 -9.9

2009 3.5 0.3 0.6 -3.6 -4.1 -5.2 4.0 20.4 -9.6 13.8

2010 4.4 -0.6 -1.7 -1.1 -0.7 -0.8 2.3 18.5 -5.2 7.4

2011 3.5 -0.5 -0.7 4.2 2.8 5.6 -1.7 10.8 -2.2 7.7

2012 5.0 1.9 -0.7 5.9 4.7 4.8 -0.2 10.1 -2.7 7.8

2013 3.9 1.7 0.0 6.0 4.8 6.0 -1.3 6.7 1.7 8.6

2014 4.4 3.1 0.5 7.2 6.1 6.8 -0.5 5.4 2.2 4.7

2015 4.6 2.9 1.5 7.0 6.8 6.5 1.9 5.0 1.1 0.7

2010 -- Q1 3.6 -2.4 -3.7 -3.3 -1.4 -1.7 3.1 18.8 -5.8 11.8

 Q2 4.7 0.3 -0.6 -2.7 -3.3 -5.1 -0.1 21.5 -6.7 -3.6

 Q3 4.6 -0.7 -1.7 -0.1 2.0 3.4 1.8 15.4 -4.1 8.6

 Q4 4.4 0.7 -0.9 1.7 -0.1 0.1 4.5 13.8 -5.1 11.4

2011 -- Q1 2.6 1.0 -0.7 3.9 1.3 3.1 -2.9 7.6 -1.0 17.0

 Q2 1.8 -1.4 -0.6 3.4 3.1 6.1 -3.6 5.9 -2.6 15.7

 Q3 5.1 -2.2 -0.8 3.7 3.3 6.4 -0.2 17.2 -1.7 -1.3

 Q4 4.4 0.6 -0.8 5.6 3.4 6.2 -0.2 10.9 -3.5 -1.3

2012 -- Q1 5.2 1.9 -0.8 4.8 4.0 3.8 -0.2 11.5 -3.6 -1.4

 Q2 5.4 1.8 -0.6 6.8 3.6 2.9 1.4 11.9 -4.0 2.6

 Q3 3.8 1.0 -0.8 5.1 4.2 4.0 0.2 7.2 -1.7 17.1

 Q4 5.3 2.9 -0.7 6.6 6.6 8.1 -2.2 8.3 -1.5 11.4

2013 -- Q1 4.5 1.0 -0.6 6.2 3.9 4.9 1.7 9.3 -0.4 12.8

 Q2 2.0 1.0 -0.2 5.1 4.7 5.8 -1.1 1.6 1.7 4.4

 Q3 2.9 3.2 0.8 6.5 6.7 9.0 -3.0 0.9 -0.3 9.5

 Q4 6.0 1.8 0.1 5.8 3.5 3.9 -2.8 14.4 6.0 7.4

2014 -- Q1 4.2 2.1 -0.1 6.8 6.4 8.9 -1.7 5.7 -0.7 5.8

 Q2 4.3 5.2 0.7 7.6 5.3 5.1 0.1 3.5 2.7 13.9

 Q3 4.5 3.0 0.4 7.1 6.1 7.2 -1.7 6.0 3.5 1.9

 Q4 4.4 2.2 1.0 6.5 6.1 5.5 1.5 5.9 3.2 -3.0

2015 -- Q1 2.7 1.9 -0.0 6.1 7.7 9.1 4.3 -1.1 -1.3 10.0

 Q2 4.5 4.1 2.4 7.9 8.3 8.7 1.0 2.4 2.5 5.1

 Q3 2.2 1.7 1.8 7.1 5.1 4.8 1.7 0.2 1.7 -7.0

 Q4 8.8 3.7 1.6 6.1 5.3 2.9 0.5 18.5 1.5 -5.2

2016 -- Q1 4.8 2.7 1.6 6.1 7.9 8.9 2.2 4.6 2.3 -0.5

1. Debt securities and loans. Data shown are on an end-of-period basis.
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4 Z.1, June 9, 2016

D.2 Borrowing by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1981 413.3 100.1 67.0 19.8 190.0 125.3 27.6 95.5 106.7 23.4

1982 466.4 86.9 47.4 18.8 164.4 106.6 41.7 173.4 97.1 16.3

1983 593.6 180.8 105.2 48.2 165.7 94.4 47.3 199.8 107.5 16.7

1984 810.6 221.6 127.6 81.7 320.8 207.1 52.5 215.7 164.7 8.0

1985 1014.1 330.3 181.7 84.0 254.7 184.3 163.6 265.6 232.8 1.4

1986 880.9 266.3 199.4 55.8 294.9 227.7 74.2 245.5 333.6 10.2

1987 735.6 247.3 221.6 32.3 223.7 165.6 90.4 174.2 267.8 11.4

1988 820.8 274.0 215.6 46.6 308.5 224.4 50.4 187.9 253.8 -4.4

1989 717.9 275.4 224.9 47.0 214.3 165.9 47.4 180.9 236.9 -7.9

1990 688.4 229.8 200.0 15.1 131.3 131.0 47.1 280.2 212.3 11.1

1991 527.2 199.9 174.5 -8.8 -80.5 -54.3 91.2 316.6 189.9 13.4

1992 552.5 202.7 173.0 9.2 -10.5 16.0 16.5 343.8 229.9 16.4

1993 727.1 262.2 156.3 61.4 113.7 134.3 57.9 293.2 326.7 67.5

1994 675.5 323.3 166.5 135.0 204.3 189.8 -45.5 193.5 462.7 -23.2

1995 665.0 323.1 153.6 147.0 237.5 192.2 -60.8 165.3 463.7 76.4

1996 752.4 340.6 205.1 105.7 232.3 161.9 -20.5 200.0 570.7 89.0

1997 839.0 343.6 215.9 70.3 381.2 279.3 50.8 63.4 603.4 77.7

1998 1047.5 433.8 301.5 97.1 558.2 379.2 66.8 -11.4 1097.0 36.0

1999 1123.5 549.0 379.2 112.4 567.3 373.5 37.3 -30.1 1114.7 15.4

2000 874.5 581.6 383.5 176.5 551.0 358.5 16.9 -275.0 908.0 60.5

2001 1102.9 627.4 508.2 150.6 314.9 151.4 105.5 55.2 887.8 -21.1

2002 1352.5 763.9 706.0 105.2 161.9 10.1 144.6 282.1 844.0 53.6

2003 1650.8 1038.9 872.1 105.9 70.6 -3.3 120.5 420.7 1171.1 17.2

2004 2130.8 1133.4 934.8 117.2 415.8 161.0 178.8 402.8 1092.1 99.1

2005 2235.3 1145.2 1053.0 100.4 601.6 259.8 141.7 346.9 1117.2 103.9

2006 2378.3 1260.7 997.7 120.1 797.6 382.2 100.9 219.1 1421.3 286.7

2007 2479.1 945.9 733.4 150.6 1116.1 652.8 146.7 270.4 2071.3 260.9

2008 1907.9 -16.1 93.2 34.3 603.5 278.0 17.9 1302.5 798.6 -198.2

2009 1226.2 48.8 66.9 -94.6 -441.4 -344.3 113.0 1505.8 -1723.5 222.2

2010 1569.1 -75.8 -176.0 -28.1 -70.6 -51.2 69.5 1645.9 -856.4 149.0

2011 1296.9 -68.2 -73.2 111.1 279.2 336.0 -52.7 1138.7 -336.7 172.8

2012 1910.7 253.6 -70.7 164.1 481.7 306.6 -5.3 1180.6 -396.4 195.0

2013 1566.2 232.9 0.8 175.8 514.9 405.8 -38.9 857.3 254.8 243.3

2014 1836.1 423.6 45.0 221.8 690.2 485.2 -13.7 735.9 325.7 140.3

2015 1989.6 399.2 138.0 231.6 809.9 497.4 56.0 724.6 165.3 22.6

2010 -- Q1 1281.9 -334.1 -382.7 -84.7 -142.6 -104.7 92.0 1666.6 -952.4 237.7

 Q2 1698.5 38.0 -63.8 -67.8 -333.1 -312.9 -1.6 1995.2 -1057.0 -74.6

 Q3 1669.2 -99.3 -171.0 -3.0 202.9 206.0 53.0 1512.6 -633.3 177.8

 Q4 1626.8 92.3 -86.4 42.9 -9.6 7.0 134.8 1409.3 -782.9 255.0

2011 -- Q1 977.5 129.0 -71.1 102.3 131.7 188.0 -87.4 804.3 -150.2 385.0

 Q2 655.9 -182.6 -58.7 90.3 308.9 371.1 -108.7 638.3 -401.2 370.4

 Q3 1903.6 -293.6 -81.6 100.4 332.7 396.2 -7.3 1871.8 -264.6 -33.2

 Q4 1650.6 74.4 -81.2 151.2 343.4 388.6 -7.4 1240.2 -530.7 -31.0

2012 -- Q1 2003.2 253.9 -76.2 132.5 408.4 245.3 -4.5 1345.4 -529.9 -35.3

 Q2 2094.2 240.7 -57.4 190.4 377.7 189.6 42.4 1433.4 -587.0 65.1

 Q3 1471.7 136.0 -78.6 145.0 435.3 257.2 6.5 893.9 -250.0 437.4

 Q4 2073.6 383.9 -70.6 188.4 705.5 534.2 -65.4 1049.6 -218.6 313.0

2013 -- Q1 1801.5 137.8 -57.1 181.5 419.2 331.6 49.5 1195.1 -63.1 362.0

 Q2 817.5 131.8 -20.2 150.9 509.9 392.8 -33.3 209.1 243.1 127.7

 Q3 1195.3 426.3 74.9 193.9 733.6 620.5 -88.3 123.7 -45.7 267.9

 Q4 2450.7 235.9 5.5 177.1 396.8 278.2 -83.3 1901.3 885.1 215.5

2014 -- Q1 1739.3 282.4 -13.7 209.3 721.8 632.1 -49.7 784.7 -109.2 172.0

 Q2 1795.4 702.5 69.0 240.5 609.1 369.4 1.6 482.1 405.1 422.2

 Q3 1910.0 411.3 33.2 226.5 710.9 529.9 -50.9 838.7 517.7 61.1

 Q4 1899.8 298.3 91.3 210.9 719.0 409.4 44.3 838.2 489.1 -94.3

2015 -- Q1 1157.7 267.0 -1.5 203.9 920.1 695.8 126.9 -156.3 -192.6 313.6

 Q2 1967.7 571.1 229.3 266.6 1017.3 678.3 29.3 350.0 371.2 162.8

 Q3 946.3 237.1 169.0 244.1 635.3 382.0 51.6 22.2 256.6 -223.4

 Q4 3886.9 521.5 155.3 211.9 666.7 233.6 16.3 2682.3 225.8 -162.6

2016 -- Q1 2159.2 378.8 156.1 214.0 1013.9 723.2 66.1 700.3 348.9 -14.8

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

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1981 4459.4 1521.2 998.3 377.9 1658.5 1038.7 372.1 907.7 723.6 229.4

1982 4895.6 1593.2 1031.2 396.7 1807.6 1129.9 413.8 1081.0 823.4 224.1

1983 5492.1 1754.0 1116.4 444.9 1996.2 1247.2 461.1 1280.8 931.1 228.2

1984 6302.3 1971.6 1243.3 526.6 2320.6 1458.0 513.6 1496.5 1104.5 228.1

1985 7334.6 2322.7 1450.2 610.6 2572.0 1638.9 677.9 1762.0 1338.2 335.0

1986 8212.6 2586.9 1649.0 666.4 2866.0 1865.8 752.1 2007.5 1679.8 346.1

1987 8930.6 2788.9 1828.6 698.6 3117.4 2059.2 842.6 2181.7 1959.9 357.2

1988 9747.9 3079.8 2054.8 745.2 3405.5 2263.5 893.0 2369.6 2213.7 393.1

1989 10482.9 3347.6 2260.1 809.3 3644.3 2454.1 940.4 2550.5 2479.1 389.2

1990 11198.6 3606.6 2489.3 824.4 3773.8 2583.3 987.4 2830.8 2694.5 396.2

1991 11722.5 3810.1 2667.4 815.6 3686.4 2524.4 1078.6 3147.4 2884.4 406.2

1992 12278.2 4012.8 2840.4 824.8 3679.1 2543.6 1095.1 3491.1 3129.9 425.8

1993 13020.0 4277.4 2999.0 886.2 3805.2 2690.4 1153.0 3784.3 3462.0 520.6

1994 13701.9 4600.1 3165.5 1021.2 4016.5 2887.2 1107.5 3977.8 3932.7 500.4

1995 14382.8 4923.1 3319.2 1168.2 4269.8 3095.2 1046.7 4143.1 4399.4 630.7

1996 15135.2 5276.8 3537.3 1273.9 4489.1 3244.1 1026.2 4343.1 4970.2 720.9

1997 15972.1 5620.4 3753.2 1344.2 4868.3 3521.3 1076.9 4406.5 5553.4 801.7

1998 17019.5 6054.2 4054.7 1441.3 5426.5 3900.4 1143.8 4395.1 6650.4 842.4

1999 18177.4 6603.2 4431.6 1553.6 6028.2 4308.3 1181.0 4365.0 7762.8 803.9

2000 19061.7 7194.7 4813.9 1741.3 6579.1 4666.9 1197.9 4090.0 8671.9 867.6

2001 20147.6 7822.0 5322.0 1891.8 6877.0 4801.3 1303.4 4145.2 9685.8 849.4

2002 21500.1 8585.9 6028.0 1997.0 7039.0 4811.3 1447.9 4427.3 10529.8 955.7

2003 23195.1 9654.9 6909.8 2102.9 7123.7 4822.2 1568.4 4848.0 11536.2 1156.6

2004 26057.8 10808.4 7859.4 2220.1 7550.4 4994.1 2448.2 5250.9 12643.2 1285.2

2005 28280.1 11953.5 8912.5 2320.6 8152.0 5253.9 2589.8 5584.8 13705.8 1350.5

2006 30698.5 13233.4 9910.1 2456.7 8970.3 5656.9 2690.8 5803.9 15094.1 1657.9

2007 33154.4 14151.3 10613.0 2609.9 10091.3 6316.2 2837.5 6074.3 17276.2 1996.6

2008 34924.4 14009.0 10579.9 2644.2 10683.2 6589.2 2855.4 7376.8 17994.7 1604.4

2009 35762.5 13765.3 10419.2 2555.4 10146.1 6160.7 2968.4 8882.6 16545.6 2005.9

2010 37074.7 13514.6 9921.5 2647.2 9993.6 6042.7 3038.0 10528.6 15331.1 2257.9

2011 38223.1 13305.2 9701.9 2758.3 10265.3 6378.7 2985.3 11667.3 14916.4 2484.9

2012 39970.7 13356.7 9490.7 2920.4 10786.2 6728.8 2980.0 12847.8 14705.3 2834.0

2013 41429.2 13501.9 9403.8 3096.2 11281.1 7119.1 2941.1 13705.1 14895.6 2958.2

2014 43218.1 13880.4 9403.6 3318.0 11969.2 7604.8 2927.5 14441.1 15201.7 3125.6

2015 45157.5 14230.1 9493.8 3534.6 12778.3 8103.9 2983.5 15165.6 15247.0 3063.2

2010 -- Q1 36093.3 13676.1 10275.5 2537.8 10126.5 6151.8 2991.4 9299.3 15772.9 2086.9

 Q2 36468.1 13638.1 10212.1 2520.9 10040.8 6073.6 2991.0 9798.1 15485.8 2072.8

 Q3 36841.5 13571.7 10127.8 2520.1 10089.3 6125.1 3004.3 10176.2 15306.8 2227.2

 Q4 37074.7 13514.6 9921.5 2647.2 9993.6 6042.7 3038.0 10528.6 15331.1 2257.9

2011 -- Q1 37278.2 13507.9 9864.9 2672.8 10024.5 6089.6 3016.1 10729.6 15274.7 2357.6

 Q2 37407.0 13429.1 9811.6 2695.4 10099.8 6182.4 2988.9 10889.2 15150.6 2489.2

 Q3 37846.4 13320.9 9756.5 2720.5 10181.2 6281.5 2987.1 11357.2 15066.0 2480.4

 Q4 38223.1 13305.2 9701.9 2758.3 10265.3 6378.7 2985.3 11667.3 14916.4 2484.9

2012 -- Q1 38683.0 13336.4 9648.2 2791.4 10358.8 6430.7 2984.1 12003.6 14829.7 2521.7

 Q2 39163.2 13355.0 9594.3 2837.0 10451.5 6478.1 2994.7 12362.0 14662.8 2552.7

 Q3 39485.8 13293.6 9539.0 2873.3 10610.5 6594.3 2996.4 12585.4 14768.0 2735.6

 Q4 39970.7 13356.7 9490.7 2920.4 10786.2 6728.8 2980.0 12847.8 14705.3 2834.0

2013 -- Q1 40393.4 13364.9 9450.2 2965.7 10889.6 6811.6 2992.4 13146.6 14674.0 2889.0

 Q2 40572.1 13373.3 9420.7 3003.5 11015.8 6909.8 2984.0 13198.9 14719.8 2833.0

 Q3 40848.9 13459.0 9418.5 3051.9 11198.2 7064.9 2962.0 13229.8 14695.2 2918.5

 Q4 41429.2 13501.9 9403.8 3096.2 11281.1 7119.1 2941.1 13705.1 14895.6 2958.2

2014 -- Q1 41849.2 13558.5 9386.3 3148.5 11460.7 7276.9 2928.7 13901.3 14859.7 3033.9

 Q2 42285.4 13722.1 9391.6 3208.6 11612.3 7369.2 2929.1 14021.8 14954.6 3198.1

 Q3 42745.8 13813.4 9388.4 3265.3 11784.4 7496.7 2916.4 14231.5 15082.9 3153.0

 Q4 43218.1 13880.4 9403.6 3318.0 11969.2 7604.8 2927.5 14441.1 15201.7 3125.6

2015 -- Q1 43489.6 13930.1 9386.2 3369.0 12198.3 7778.6 2959.2 14402.0 15146.7 3202.7

 Q2 43969.4 14061.3 9431.9 3435.6 12452.1 7948.1 2966.5 14489.5 15232.5 3190.7

 Q3 44196.0 14111.1 9464.7 3496.6 12610.4 8043.6 2979.4 14495.0 15290.0 3108.8

 Q4 45157.5 14230.1 9493.8 3534.6 12778.3 8103.9 2983.5 15165.6 15247.0 3063.2

2016 -- Q1 45688.1 14316.0 9524.1 3588.1 13031.4 8284.5 3000.0 15340.7 15328.7 3137.7

1. Debt securities and loans. Data shown are on an end-of-period basis.
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B.1 Derivation of U.S. Net Wealth

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 U.S. net wealth (1) 59805.6 59191.1 64484.6 74397.2 78570.5 80087.9 80027.0 80272.9 78054.1 80087.9 80374.8 1

 2 Households’ direct holdings of nonfinancial assets 23403.2 23453.4 25151.4 27719.0 29215.2 30991.0 29677.2 30073.3 30467.1 30991.0 31546.6 2

 3 Real estate 18434.7 18327.7 19884.8 22350.7 23731.5 25290.5 24152.1 24475.7 24823.1 25290.5 25788.9 3

 4 Equipment (nonprofits) 280.1 293.0 301.8 309.1 320.0 331.5 323.3 325.9 328.9 331.5 333.8 4

 5 Intellectual property products (nonprofits) 101.8 109.4 115.9 121.5 125.9 131.3 126.8 127.5 129.5 131.3 133.0 5

 6 Consumer durable goods 4586.7 4723.3 4848.9 4937.8 5037.8 5237.7 5075.0 5144.2 5185.6 5237.7 5290.8 6

 7 Nonfin. noncorporate businesses nonfinancial assets 8826.4 9230.0 9954.4 11034.4 11740.3 12360.3 11960.1 12075.2 12202.3 12360.3 12541.0 7

 8 Real estate 7670.5 8001.3 8687.7 9727.8 10375.5 11149.2 10635.3 10784.2 10953.9 11149.2 11346.2 8

 9 Equipment 709.2 740.7 772.6 804.9 838.2 795.7 829.4 820.3 807.0 795.7 791.4 9

 10 Intellectual property products 189.9 196.6 204.7 214.6 223.3 143.2 203.1 179.5 156.4 143.2 129.3 10

 11 Inventories 256.9 291.3 289.3 287.1 303.3 272.2 292.3 291.3 285.0 272.2 274.1 11

 12 Fin. noncorporate businesses nonfinancial assets (2) 15.9 11.9 17.3 15.9 17.5 14.9 17.2 16.2 17.1 14.9 13.1 12

 13 Market value of domestic corporations (3) 18336.4 17940.5 20525.8 27055.0 30038.1 29013.6 30566.5 30260.8 27690.5 29013.6 28761.8 13

 14 Nonfinancial corporate equity 13996.1 13888.1 15578.8 20593.0 22716.8 21727.0 23108.6 22745.9 20699.2 21727.0 21685.7 14

 15 Financial corporate equity 4340.2 4052.4 4947.0 6462.0 7321.3 7286.6 7457.9 7514.9 6991.3 7286.6 7076.1 15

 16 Federal government nonfinancial assets (4) 2957.5 3066.8 3137.2 3206.4 3258.6 3249.8 3253.5 3241.2 3244.8 3249.8 3246.9 16

 17 Structures 1352.5 1406.9 1439.8 1480.6 1507.9 1492.3 1500.2 1495.4 1493.9 1492.3 1485.1 17

 18 Equipment 680.9 711.0 726.6 732.7 742.0 740.0 743.8 738.7 738.2 740.0 738.9 18

 19 Intellectual property products 924.1 948.9 970.8 993.1 1008.7 1017.6 1009.5 1007.1 1012.7 1017.6 1023.0 19

 20 State and local governments nonfinancial assets (4) 8557.5 9068.6 9384.7 9718.9 9980.2 10038.3 9990.4 10002.2 10031.2 10038.3 10003.5 20

 21 Structures 8207.7 8711.9 9022.9 9350.3 9603.7 9655.6 9612.1 9623.0 9649.7 9655.6 9618.9 21

 22 Equipment 245.4 246.5 246.7 248.4 252.1 254.0 253.3 253.7 254.4 254.0 254.4 22

 23 Intellectual property products 104.4 110.2 115.2 120.1 124.4 128.7 125.0 125.5 127.1 128.7 130.3 23

 24 Net U.S. financial claims on the rest of the world -2291.3 -3580.1 -3686.2 -4352.3 -5679.4 -5580.0 -5437.9 -5396.0 -5598.9 -5580.0 -5738.2 24

 25 U.S. financial claims on the rest of the world 13762.7 13932.9 15276.4 16784.2 17304.5 17220.4 17836.2 17934.6 17165.8 17220.4 17366.1 25

 26 U.S. holdings of foreign corporate equities 4900.2 4501.4 5321.9 6472.9 6719.7 6753.2 7118.0 7285.9 6537.7 6753.2 6733.8 26

 27 Other U.S. financial claims 8862.5 9431.5 9954.6 10311.3 10584.8 10467.2 10718.2 10648.7 10628.1 10467.2 10632.2 27

 28 Less: Foreign financial claims on U.S. 16054.1 17513.0 18962.6 21136.5 22983.9 22800.4 23274.1 23330.6 22764.7 22800.4 23104.3 28

 29 Foreign holdings of U.S. corporate equities 3213.5 3397.2 3953.0 5204.4 5944.2 5569.7 5971.1 5917.6 5449.6 5569.7 5564.4 29

 30 Other foreign financial claims 12840.6 14115.8 15009.6 15932.1 17039.7 17230.7 17303.1 17413.0 17315.1 17230.7 17539.9 30

 Memo:

 31 A. U.S. net wealth (line 1) 59805.6 59191.1 64484.6 74397.2 78570.5 80087.9 80027.0 80272.9 78054.1 80087.9 80374.8 31

 32 Change in U.S. net wealth 2973.9 -614.4 5293.4 9912.7 4173.3 1517.4 1456.5 245.9 -2218.8 2033.8 286.9 32

 33 Percent change in U.S. net wealth 5.2 -1.0 8.9 15.4 5.6 1.9 1.9 0.3 -2.8 2.6 0.4 33

 34 B. Household net worth (5) 62316.3 63544.5 69598.3 79383.5 84200.6 87249.5 86019.5 86500.0 85069.4 87249.5 88086.9 34

 35 Change in household net worth 4221.8 1228.3 6053.7 9785.2 4817.1 3048.9 1818.9 480.5 -1430.7 2180.2 837.4 35

 36 Percent change in household net worth 7.3 2.0 9.5 14.1 6.1 3.6 2.2 0.6 -1.7 2.6 1.0 36

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

 market value of domestic nonfinancial and financial corporations, net of U.S. financial obligations to the rest of the world (sum of lines 2+7+12+13+16+20+24).

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

(3) This measure does not equal the net worth of the nonfinancial corporate business and financial business sectors reported in the Integrated Macroeconomic Accounts (tables S.2.a and S.2.q)

 because of differences in the valuation of assets.

(4) Excludes land and nonproduced nonfinancial assets.

(5) Household net worth is calculated as the difference between total assets and liabilities of the household and nonprofit organizations sector. See table B.101.
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F.2 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross Domestic Product (GDP) 14964.4 15517.9 16155.3 16663.2 17348.1 17947.0 17649.3 17913.7 18060.2 18164.8 18229.5 1

 2 Personal consumption expenditures (2) 10202.2 10689.3 11050.6 11392.3 11865.9 12271.9 12055.5 12228.4 12359.0 12444.7 12513.8 2

 3 Durable goods 1070.7 1125.3 1191.9 1237.8 1280.2 1328.7 1301.8 1326.4 1339.6 1346.9 1339.0 3

 4 Nondurable goods 2292.1 2471.1 2547.2 2598.9 2668.2 2650.1 2599.7 2651.8 2684.4 2664.6 2634.5 4

 5 Services 6839.4 7092.8 7311.5 7555.5 7917.5 8293.1 8153.9 8250.2 8334.9 8433.1 8540.3 5

 6 Gross private domestic investment 2100.8 2239.9 2511.7 2665.0 2860.0 3020.6 2995.9 3025.5 3030.6 3030.6 3009.8 6

 7 Fixed investment (3) 2039.3 2198.1 2449.9 2593.2 2782.9 2911.4 2868.6 2897.9 2935.3 2943.7 2936.3 7

 8 Nonresidential 1658.2 1812.1 2007.7 2084.3 2233.7 2301.9 2280.7 2297.9 2319.4 2309.5 2273.6 8

 9 Household sector (nonprofit organizations) 134.1 130.8 137.4 133.7 139.7 148.5 142.5 147.4 151.1 153.0 156.6 9

 10 Nonfinancial corporate business 1178.1 1299.2 1434.5 1491.7 1603.3 1653.9 1638.4 1651.8 1666.2 1659.2 1634.1 10

 11 Nonfinancial noncorporate business 183.3 214.6 243.7 252.8 268.1 261.2 266.5 263.6 259.9 254.6 241.3 11

 12 Financial institutions 162.8 167.5 192.1 206.1 222.6 238.3 233.2 235.1 242.2 242.7 241.6 12

 13 Residential 381.1 386.0 442.2 508.9 549.2 609.5 588.0 600.0 615.9 634.2 662.7 13

 14 Household sector 318.3 321.1 367.9 424.6 456.6 506.3 488.9 501.1 512.4 522.9 546.3 14

 15 Nonfinancial corporate business 0.5 -1.8 0.2 -8.7 -0.7 9.5 -3.0 -2.7 27.8 16.0 17.1 15

 16 Nonfinancial noncorporate business 58.3 60.2 68.9 78.0 85.6 93.9 91.1 93.0 94.8 96.7 100.8 16

 17 REITs 4.0 6.5 5.3 15.0 7.8 -0.3 10.9 8.6 -19.1 -1.4 -1.5 17

 18 Change in private inventories 61.5 41.8 61.8 71.8 77.1 109.2 127.3 127.5 95.3 86.9 73.5 18

 19 Nonfinancial corporate business 57.9 34.9 65.8 55.2 63.2 90.8 104.8 107.8 77.7 73.1 65.7 19

 20 Nonfinancial noncorporate business 3.6 6.8 -4.0 16.6 13.9 18.4 22.5 19.7 17.6 13.7 7.8 20

 21 Net U.S. exports of goods and services -512.7 -580.0 -565.7 -508.4 -530.0 -528.9 -551.6 -519.3 -530.4 -514.3 -506.8 21

 22 Exports 1852.3 2106.4 2198.2 2263.3 2341.9 2253.4 2257.3 2280.0 2259.8 2216.6 2173.0 22

 23 - Imports 2365.0 2686.4 2763.8 2771.7 2871.9 2782.3 2808.9 2799.3 2790.2 2730.9 2679.8 23

 Government consumption expenditures and

 24 gross investment 3174.0 3168.7 3158.6 3114.2 3152.1 3183.4 3149.5 3179.2 3201.0 3203.9 3212.7 24

 25 Consumption expenditures (4) 2522.2 2530.9 2544.1 2522.0 2556.3 2572.0 2556.2 2565.6 2580.2 2585.9 2584.7 25

 26 Federal 1003.9 1006.1 1007.8 961.3 955.3 960.6 956.7 957.2 961.3 967.3 966.1 26

 27 State and local 1518.3 1524.8 1536.3 1560.7 1601.0 1611.4 1599.5 1608.4 1618.9 1618.6 1618.6 27

 28 Gross investment (4) 651.8 637.9 614.4 592.3 595.8 611.4 593.3 613.5 620.8 618.0 628.0 28

 29 Federal 300.0 297.4 284.7 269.4 264.6 264.0 261.5 263.5 263.1 267.9 269.0 29

 30 State and local 351.9 340.5 329.7 322.9 331.3 347.4 331.8 350.0 357.8 350.0 359.0 30

 Memo:

 31 Net U.S. income receipts from rest of world 206.0 246.6 237.6 250.4 263.1 213.6 227.5 230.6 203.6 192.7 145.0 31

 32 U.S. income receipts 720.0 792.6 801.5 826.2 854.3 830.5 817.0 845.3 841.2 818.4 814.5 32

 33 - U.S. income payments 514.1 546.0 563.9 575.8 591.2 616.9 589.5 614.7 637.6 625.7 669.5 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 15170.4 15764.6 16392.8 16913.5 17611.2 18160.6 17876.8 18144.3 18263.8 18357.5 18374.5 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -8.5 -7.8 -7.9 -8.2 -8.4 -8.3 -8.3 -8.3 -8.2 -8.3 -8.3 35

 36 Nonfinancial corporate business -1.1 -0.5 0.8 1.0 1.2 29.4 -0.8 120.1 -0.7 -0.8 -1.1 36

 37 Federal government -1.0 -0.9 -2.0 -2.4 -2.7 -30.9 -0.7 -121.6 -0.8 -0.7 -0.4 37

 38 State and local governments 10.6 9.2 9.1 9.6 9.9 9.8 9.8 9.8 9.7 9.8 9.8 38

 39 Rest of the world -0.0 -0.0 -0.1 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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F.3 Distribution of National Income (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 National Income 12739.5 13352.3 14061.9 14458.3 15076.5 15546.2 15336.4 15520.3 15615.6 15712.6 15776.9 1

 2 Compensation of employees 7961.4 8269.0 8609.9 8839.7 9248.9 9666.6 9487.9 9615.2 9709.5 9853.7 9962.6 2

 3 Wages and salaries 6377.5 6633.2 6930.3 7114.4 7477.8 7834.9 7682.4 7791.8 7870.0 7995.4 8087.9 3

 4 Supplements to wages and salaries 1583.9 1635.9 1679.6 1725.3 1771.2 1831.7 1805.5 1823.4 1839.5 1858.3 1874.6 4

 5 Proprietors’ income with IVA and CCAdj 1032.7 1143.7 1241.4 1285.1 1346.7 1388.3 1369.4 1377.0 1400.1 1406.7 1412.2 5

 6 Rental income of persons with CCAdj 402.8 485.3 525.3 563.4 610.8 656.6 637.0 654.1 663.6 671.7 685.0 6

 7 Corporate profits with IVA and CCAdj 1746.4 1816.6 1998.2 2037.4 2072.9 2008.9 2012.5 2083.0 2049.9 1890.3 1896.8 7

 8 Corporate profits with IVA 1799.7 1738.5 2116.6 2164.9 2204.8 2341.9 2351.5 2414.2 2382.5 2219.3 2228.6 8

 9 Profits before tax 1840.7 1806.8 2130.8 2161.6 2207.8 2280.4 2252.3 2393.7 2326.0 2149.5 2179.7 9

 10 Domestic nonfinancial 1039.2 1008.9 1241.4 1323.2 1366.1 1448.5 1436.8 1532.4 1485.4 1339.4 1408.2 10

 11 Domestic financial 406.3 375.9 479.0 423.6 423.4 442.8 421.9 456.2 458.6 434.6 433.1 11

 12 Rest of the world 395.2 421.9 410.3 414.8 418.2 389.1 393.6 405.1 382.0 375.6 338.3 12

 Less:

 13 Taxes on corporate income 370.6 379.1 447.6 468.9 513.9 529.7 517.8 549.0 542.2 509.9 508.3 13

 14 Domestic nonfinancial 220.6 228.8 266.7 284.6 316.2 346.6 341.4 362.3 353.4 329.3 330.8 14

 15 Domestic financial 150.0 150.3 180.9 184.3 197.6 183.1 176.4 186.8 188.8 180.6 177.5 15

 Equals:

 16 Profits after tax 1470.1 1427.7 1683.2 1692.7 1693.9 1750.6 1734.5 1844.6 1783.8 1639.6 1671.4 16

 17 Net dividends 564.0 703.7 859.4 924.0 860.0 888.6 878.5 879.6 905.7 890.5 897.9 17

 18 Domestic nonfinancial 375.5 441.0 517.9 525.2 573.8 585.8 588.6 579.7 589.4 585.7 573.3 18

 19 Domestic financial 67.1 107.7 162.2 252.5 150.6 186.0 204.9 179.3 183.7 176.0 192.1 19

 20 Rest of the world 121.4 154.9 179.3 146.3 135.6 116.7 85.0 120.6 132.6 128.8 132.5 20

 21 Undistributed profits 906.2 724.0 823.8 768.7 833.9 862.1 856.0 965.0 878.2 749.1 773.5 21

 22 Domestic nonfinancial 443.1 339.1 456.8 513.3 476.1 516.1 506.8 590.5 542.6 424.4 504.2 22

 23 Domestic financial 189.3 117.9 136.0 -13.1 75.2 73.7 40.6 90.0 86.1 77.9 63.5 23

 24 Rest of the world 273.8 267.0 231.0 268.5 282.6 272.3 308.6 284.5 249.5 246.8 205.8 24

 25 Inventory valuation adjustment (IVA) -41.0 -68.3 -14.2 3.2 -2.9 61.5 99.2 20.5 56.5 69.7 48.9 25

 26 Capital consumption adjustment (CCAdj) -53.3 78.1 -118.5 -127.5 -131.9 -332.9 -338.9 -331.3 -332.6 -329.0 -331.8 26

 27 Domestic nonfinancial -15.2 98.3 -77.6 -89.6 -92.1 -271.4 -277.5 -270.2 -270.8 -267.3 -269.6 27

 28 Domestic financial -38.1 -20.2 -40.9 -37.9 -39.8 -61.5 -61.4 -61.1 -61.7 -61.7 -62.2 28

 29 Net interest and miscellaneous payments 489.4 488.1 527.7 513.5 532.3 523.8 561.3 506.6 508.3 519.0 516.3 29

 30 Taxes on production and imports 1057.1 1102.6 1132.1 1178.0 1213.7 1236.0 1226.8 1234.1 1238.2 1244.7 1246.8 30

 31 Less: Subsidies 55.9 60.1 58.0 59.4 57.9 58.6 57.6 58.5 59.2 59.3 60.3 31

 32 Business current transfer payments (net) 128.5 131.5 104.7 119.4 127.3 141.2 115.6 124.9 121.2 203.0 135.7 32

 33 To persons (net) 43.0 50.2 42.7 41.2 42.0 43.2 42.4 42.9 43.4 44.0 44.5 33

 34 To government (net) 87.2 89.2 72.5 91.9 94.8 102.6 80.1 86.3 81.2 162.8 94.1 34

 35 To rest of the world (net) -1.7 -7.9 -10.6 -13.7 -9.5 -4.6 -6.8 -4.3 -3.5 -3.9 -3.0 35

 36 Current surplus of government enterprises -22.9 -24.5 -19.3 -18.8 -18.3 -16.5 -16.6 -16.1 -16.0 -17.4 -18.0 36

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 37 National Income, from line 1 above 12739.5 13352.3 14061.9 14458.3 15076.5 15546.2 15336.4 15520.3 15615.6 15712.6 15776.9 37

 Plus:

 38 Private consumption of fixed capital 1923.5 1971.1 2038.0 2126.6 2229.9 2299.2 2271.9 2284.1 2310.9 2329.8 2346.4 38

 39 Government consumption of fixed capital 458.1 479.6 496.2 506.2 516.8 522.2 520.8 520.3 521.7 525.9 525.9 39

 40 Statistical discrepancy 49.2 -38.3 -203.3 -177.6 -212.0 -207.0 -252.3 -180.4 -184.4 -210.8 -274.7 40

 Less:

 41 Net U.S. income receipts from rest of world 206.0 246.6 237.6 250.4 263.1 213.6 227.5 230.6 203.6 192.7 145.0 41

 Equals:

 42 Gross Domestic Product 14964.4 15517.9 16155.3 16663.2 17348.1 17947.0 17649.3 17913.7 18060.2 18164.8 18229.5 42

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

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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F.4 Saving and Investment by Sector (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 2257.5 2434.6 2861.2 3039.2 3266.8 3374.0 3366.8 3393.8 3348.5 3386.9 3389.5 1

 2 Net saving -124.1 -16.1 327.0 406.3 520.1 552.7 574.1 589.4 516.0 531.2 517.2 2

 3 Net private saving 1441.9 1444.0 1637.9 1234.4 1319.2 1276.4 1303.8 1318.1 1282.3 1201.2 1273.2 3

 4 Domestic business 811.9 733.9 691.2 644.5 699.0 590.6 616.3 654.3 602.1 489.9 490.6 4

 5 Nonfinancial corporate business 603.5 584.2 556.3 650.7 618.5 555.3 587.5 570.9 573.7 489.0 551.9 5

 6 Financial business 208.4 149.7 134.8 -6.3 80.5 35.4 28.8 83.4 28.4 0.9 -61.2 6

 7 Households and institutions 630.0 710.1 946.7 589.9 620.2 685.7 687.6 663.9 680.2 711.3 782.6 7

 8 Net government saving -1566.0 -1460.1 -1310.8 -828.0 -799.2 -723.7 -729.7 -728.7 -766.3 -669.9 -756.0 8

 9 Federal -1328.7 -1244.1 -1090.1 -640.9 -631.5 -588.3 -579.3 -574.2 -611.7 -587.8 -610.0 9

 10 State and local -237.3 -215.9 -220.8 -187.1 -167.7 -135.4 -150.4 -154.5 -154.6 -82.1 -146.0 10

 11 Consumption of fixed capital 2381.6 2450.6 2534.2 2632.8 2746.7 2821.3 2792.7 2804.3 2832.6 2855.7 2872.3 11

 12 Private 1923.5 1971.1 2038.0 2126.6 2229.9 2299.2 2271.9 2284.1 2310.9 2329.8 2346.4 12

 13 Domestic business 1523.0 1572.8 1633.4 1699.4 1775.2 1829.8 1807.4 1818.0 1839.3 1854.4 1867.8 13

 14 Nonfinancial corporate business 1094.6 1139.2 1186.2 1232.2 1285.7 1326.1 1311.4 1318.0 1332.6 1342.5 1351.4 14

 15 Nonfinancial noncorporate business 251.8 265.0 273.0 284.5 297.5 307.3 303.9 305.5 308.7 311.1 313.1 15

 16 Financial business 176.7 168.6 174.2 182.7 192.0 196.3 192.1 194.4 198.0 200.8 203.3 16

 17 Households and institutions 400.5 398.2 404.6 427.2 454.8 469.4 464.5 466.1 471.5 475.4 478.6 17

 18 Government 458.1 479.6 496.2 506.2 516.8 522.2 520.8 520.3 521.7 525.9 525.9 18

 19 Federal 245.3 257.4 264.3 267.7 270.7 272.7 272.0 271.2 271.8 275.7 276.2 19

 20 State and local 212.7 222.2 231.9 238.5 246.1 249.5 248.8 249.0 249.9 250.2 249.7 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 2306.7 2396.2 2658.0 2861.5 3054.7 3167.0 3114.5 3213.4 3164.2 3176.1 3114.8 21

 22 Gross domestic investment 2752.6 2877.8 3126.1 3257.3 3455.9 3632.0 3589.2 3639.0 3651.4 3648.6 3637.8 22

 23 Gross private domestic investment 2100.8 2239.9 2511.7 2665.0 2860.0 3020.6 2995.9 3025.5 3030.6 3030.6 3009.8 23

 24 Domestic business 1648.4 1788.0 2006.4 2106.7 2263.8 2365.8 2364.4 2377.0 2367.0 2354.7 2306.9 24

 25 Nonfinancial corporate business 1239.0 1338.9 1505.7 1553.2 1673.5 1743.5 1750.0 1758.1 1737.8 1727.9 1687.2 25

 26 Nonfinancial noncorporate business 246.7 281.7 308.6 347.4 367.6 384.0 381.2 383.8 387.1 384.0 378.1 26

 27 Financial business 162.8 167.5 192.1 206.1 222.6 238.3 233.2 235.1 242.2 242.7 241.6 27

 28 Households and institutions 452.4 451.9 505.3 558.4 596.2 654.8 631.4 648.5 663.5 675.9 702.9 28

 29 Gross government investment 651.8 637.9 614.4 592.3 595.8 611.4 593.3 613.5 620.8 618.0 628.0 29

 30 Federal 300.0 297.4 284.7 269.4 264.6 264.0 261.5 263.5 263.1 267.9 269.0 30

 31 State and local 351.9 340.5 329.7 322.9 331.3 347.4 331.8 350.0 357.8 350.0 359.0 31

 32 Capital account transactions (net) (2) 0.7 1.6 -6.5 0.8 0.5 0.4 0.4 0.5 0.4 0.3 0.4 32

 33 Private -58.5 -46.7 -24.5 7.0 5.5 38.7 7.8 128.2 7.9 10.8 10.7 33

 34 Domestic business -29.4 -40.9 -11.5 -4.7 4.5 26.2 -3.8 115.8 -4.4 -2.7 -2.8 34

 35 Nonfinancial corporate business 19.8 -6.9 -16.2 -4.7 -5.5 26.2 -3.8 115.8 -4.4 -2.7 -2.8 35

 36 Nonfinancial noncorporate business -7.8 -1.6 -4.9 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Financial business -41.5 -32.4 9.6 0.0 10.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Households and institutions -29.1 -5.8 -12.9 11.7 0.9 12.5 11.6 12.4 12.3 13.5 13.5 38

 39 Government 59.2 48.4 18.0 -6.1 -5.0 -38.3 -7.4 -127.7 -7.5 -10.5 -10.3 39

 40 Federal 125.3 113.0 83.0 55.7 56.1 22.7 51.8 -68.8 55.2 52.7 52.5 40

 41 State and local -66.2 -64.6 -65.0 -61.8 -61.1 -61.0 -59.2 -58.9 -62.6 -63.2 -62.8 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -446.6 -483.2 -461.7 -396.6 -401.6 -465.4 -475.1 -426.1 -487.6 -472.8 -523.4 42

 43 Private 1372.3 1183.6 985.3 511.4 471.6 309.3 319.8 268.2 370.3 278.8 324.5 43

 44 Domestic business 765.2 521.3 126.5 64.3 -6.1 -178.5 -189.2 -200.8 -105.6 -218.4 -220.4 44

 45 Nonfinancial corporate business (3) 488.5 353.1 49.8 156.8 24.2 -95.2 -99.7 -165.3 -11.4 -104.5 -55.8 45

 46 Nonfinancial noncorporate business 12.9 -15.1 -30.7 -62.8 -70.2 -76.7 -77.3 -78.3 -78.4 -72.9 -65.0 46

 47 Financial business 263.8 183.3 107.4 -29.7 39.9 -6.6 -12.3 42.7 -15.8 -41.1 -99.5 47

 48 Households and institutions 607.2 662.3 858.9 447.1 477.8 487.8 509.0 469.0 476.0 497.2 544.8 48

 49 Government -1819.0 -1666.7 -1447.0 -908.0 -873.2 -774.7 -794.9 -694.3 -858.0 -751.5 -847.8 49

 50 Federal -1508.7 -1397.1 -1193.4 -698.3 -681.4 -602.3 -620.6 -497.7 -658.1 -632.8 -655.3 50

 51 State and local -310.3 -269.6 -253.6 -209.7 -191.8 -172.4 -174.3 -196.5 -199.9 -118.8 -192.5 51

 52 Statistical discrepancy (line 21 less line 1) 49.2 -38.3 -203.3 -177.6 -212.0 -207.0 -252.3 -180.4 -184.4 -210.8 -274.7 52

 Addenda:

 53 Disaster losses 0.0 0.0 45.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

 54 Private 0.0 0.0 38.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Domestic business 0.0 0.0 17.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

 56 Households and institutions 0.0 0.0 20.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

 57 Government 0.0 0.0 7.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

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

 59 State and local 0.0 0.0 7.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Capital transfers paid, by sector 186.7 137.9 140.0 105.0 111.4 98.2 95.9 97.8 100.3 98.8 98.3 1

 2 By private business 25.8 0.0 14.3 0.0 10.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Financial corporations 0.0 0.0 14.3 0.0 10.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Disaster-related insurance benefits 0.0 0.0 14.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Other 0.0 0.0 0.0 0.0 10.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Nonfinancial corporations 25.8 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 0.0 7

 8 By government 141.4 123.5 99.0 79.0 77.6 73.3 71.7 72.8 75.5 73.4 73.0 8

 9 Federal 141.4 123.5 99.0 79.0 77.6 73.3 71.7 72.8 75.5 73.4 73.0 9

 10 Investment grants to state and local govts. 72.1 69.1 66.6 66.3 66.0 65.6 64.0 63.7 67.1 67.6 67.3 10

 11 Disaster-related insurance benefits 0.0 0.0 7.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Financial stabilization payments 41.5 32.4 4.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Other capital transfers paid to business 12.7 8.0 8.5 5.7 6.7 3.2 3.0 4.3 3.7 1.9 1.7 13

 14 Other capital transfers paid to persons 14.5 12.4 10.5 6.1 4.5 4.1 4.3 4.3 4.3 3.6 3.6 14

 15 Capital transfers paid to rest of world (net) 0.7 1.6 1.1 0.8 0.4 0.4 0.4 0.5 0.4 0.3 0.4 15

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

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

 18 By persons 19.5 14.4 19.0 26.0 23.8 24.8 24.2 25.0 24.8 25.4 25.4 18

 19 Estate and gift taxes, federal 15.1 9.6 14.1 20.9 18.8 19.7 19.2 20.0 19.5 20.0 20.1 19

 20 Estate and gift taxes, state and local 4.4 4.7 4.9 5.1 5.0 5.2 5.0 5.0 5.3 5.4 5.3 20

 21 By the rest of the world 0.0 0.0 7.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Disaster-related insurance benefits 0.0 0.0 7.7 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 0.0 23

 24 Capital transfers received, by sector 186.7 137.9 140.0 105.0 111.4 98.2 95.9 97.8 100.3 98.8 98.3 24

 25 By private business 54.2 40.4 26.6 5.7 6.7 3.2 3.0 4.3 3.7 1.9 1.7 25

 26 Financial corporations 41.5 32.4 4.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Other 41.5 32.4 4.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Nonfinancial corporations 4.9 6.4 17.0 5.7 6.7 3.2 3.0 4.3 3.7 1.9 1.7 29

 30 Disaster-related insurance benefits 0.0 0.0 8.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Other 4.9 6.4 8.4 5.7 6.7 3.2 3.0 4.3 3.7 1.9 1.7 31

 32 Noncorporate business 7.8 1.6 4.9 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Disaster-related insurance benefits 0.0 0.0 4.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Other 7.8 1.6 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 By government 91.8 83.5 88.2 92.3 89.8 90.4 88.2 88.6 91.9 93.0 92.7 35

 36 Federal 15.1 9.6 14.1 20.9 18.8 19.7 19.2 20.0 19.5 20.0 20.1 36

 37 Estate and gift taxes paid by persons 15.1 9.6 14.1 20.9 18.8 19.7 19.2 20.0 19.5 20.0 20.1 37

 38 State and local 76.7 73.8 74.2 71.4 71.0 70.7 69.0 68.7 72.4 73.0 72.6 38

 39 Disaster-related insurance benefits 0.0 0.0 2.7 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 4.4 4.7 4.9 5.1 5.0 5.2 5.0 5.0 5.3 5.4 5.3 40

 41 Investment grants paid by federal government 72.1 69.1 66.6 66.3 66.0 65.6 64.0 63.7 67.1 67.6 67.3 41

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

 43 By persons 40.1 12.4 24.0 6.1 14.5 4.1 4.3 4.3 4.3 3.6 3.6 43

 44 Disaster-related insurance benefits 0.0 0.0 13.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Other 40.1 12.4 10.5 6.1 14.5 4.1 4.3 4.3 4.3 3.6 3.6 45

 46 By the rest of the world 0.7 1.6 1.1 0.8 0.4 0.4 0.4 0.5 0.4 0.3 0.4 46

 47 Capital transfers paid by U.S. government 0.7 1.6 1.1 0.8 0.4 0.4 0.4 0.5 0.4 0.3 0.4 47

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

 Addenda: Net capital transfers paid by sector

 49 By private business (lines 2-25) -28.3 -40.4 -12.3 -5.7 3.3 -3.2 -3.0 -4.3 -3.7 -1.9 -1.7 49

 50 Financial corporations (lines 3-26) -41.5 -32.4 9.6 0.0 10.0 0.0 0.0 0.0 0.0 0.0 0.0 50

 51 Property-casualty insurance companies (line 4-27) 0.0 0.0 14.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 51

 52 U.S.-chartered depository institutions 2.4 3.2 0.0 0.0 10.0 0.0 0.0 0.0 0.0 0.0 0.0 52

 53 Financial stabilization payments (2) 2.4 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

 54 Other (lines 5) 0.0 0.0 0.0 0.0 10.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Government-sponsored enterprises (2) -40.2 -31.9 -4.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

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

 57 Funding corporations (AIG) (2) -2.2 -3.4 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) 20.9 -6.4 -17.0 -5.7 -6.7 -3.2 -3.0 -4.3 -3.7 -1.9 -1.7 58

 59 Noncorporate business (lines 7-32) -7.8 -1.6 -4.9 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59

 60 By government (lines 8-35) 49.6 40.0 10.8 -13.3 -12.2 -17.1 -16.5 -15.9 -16.4 -19.6 -19.8 60

 61 Federal (lines 9-36) 126.3 113.9 85.0 58.1 58.8 53.7 52.5 52.8 56.0 53.4 52.9 61

 62 State and local (lines 16-38) -76.7 -73.8 -74.2 -71.4 -71.0 -70.7 -69.0 -68.7 -72.4 -73.0 -72.6 62

 63 By persons (lines 18-43) -20.6 2.0 -5.1 19.8 9.3 20.7 19.9 20.7 20.5 21.8 21.8 63

 64 By the rest of the world (lines 21-46) -0.7 -1.6 6.5 -0.8 -0.4 -0.4 -0.4 -0.5 -0.4 -0.3 -0.4 64

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

(2) Sum of lines 53, 55, 56, and 57 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Financial Accounts of the United States.
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F.6 Derivation of Measures of Personal Saving (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 691.8 1353.0 1373.8 1292.2 1444.2 1625.8 1910.5 1097.8 1346.4 2148.5 1549.1 1

 2 Foreign deposits 4.5 -9.9 -7.9 2.3 -6.4 -14.8 -6.1 -18.8 -15.9 -18.5 -20.8 2

 3 Checkable deposits and currency 36.2 324.9 236.6 145.9 171.7 191.0 479.5 125.1 -169.6 328.9 282.5 3

 4 Time and savings deposits 167.7 376.0 422.1 221.6 459.1 526.3 614.6 131.8 747.6 611.3 410.3 4

 5 Money market fund shares -180.6 -18.7 5.0 30.3 -15.2 -49.3 -181.1 103.1 -137.0 17.9 123.3 5

 6 Debt securities -128.1 8.3 -91.3 -387.1 -113.8 291.1 -20.6 -67.9 936.6 316.2 -286.3 6

 7 Open market paper -1.5 -1.8 -0.6 -3.8 -0.1 -1.2 1.4 1.7 -5.5 -2.3 -7.9 7

 8 Treasury securities 317.4 -192.8 227.8 -31.4 -238.5 224.8 -13.2 49.1 440.4 423.1 -116.5 8

 9 Agency- and GSE-backed securities 0.5 83.0 -69.4 -33.6 97.3 189.7 -131.3 178.6 384.0 327.3 -84.2 9

 10 Municipal securities 57.7 -42.5 -128.3 -28.1 -45.4 -7.4 23.6 -2.4 33.9 -84.6 18.9 10

 11 Corporate and foreign bonds -502.1 162.4 -120.9 -290.2 72.9 -114.9 99.0 -294.9 83.7 -347.3 -96.6 11

 12 Loans 5.0 -11.1 10.0 52.5 54.6 -54.8 5.4 -113.5 -11.5 -99.4 145.4 12

 13 Corporate equities (2) -212.4 -257.9 -192.7 176.4 69.3 -85.4 248.8 41.3 -811.0 179.2 232.1 13

 14 Mutual fund shares 170.3 128.9 254.0 248.9 181.4 129.4 145.5 170.7 185.7 15.6 -38.2 14

 15 Life insurance reserves 8.5 71.8 -29.5 9.3 37.0 33.9 49.0 20.5 47.2 19.1 52.3 15

 16 Pension entitlements 669.5 512.1 543.2 471.7 429.7 398.1 360.6 419.6 344.3 468.0 436.8 16

 17 Miscellaneous and other assets 151.2 228.6 224.2 320.5 176.7 260.3 215.0 285.9 230.1 310.1 211.7 17

 18 Gross investment in nonfinancial assets 1694.0 1783.0 1935.6 2064.4 2161.0 2271.2 2229.2 2265.5 2289.2 2301.0 2305.4 18

 19 Residential fixed investment 376.5 381.3 436.8 502.6 542.1 600.2 580.0 594.1 607.2 619.6 647.0 19

 20 Nonresidential fixed investment 317.4 345.4 381.1 386.5 407.8 409.7 409.0 411.0 411.0 407.6 397.9 20

 21 Consumer durables 1005.0 1057.2 1129.5 1166.9 1205.6 1251.2 1225.9 1249.0 1261.5 1268.4 1260.9 21

 22 Nonproduced nonfinancial assets -8.5 -7.8 -7.9 -8.2 -8.4 -8.3 -8.3 -8.3 -8.2 -8.3 -8.3 22

 23 Inventories 3.6 6.8 -4.0 16.6 13.9 18.4 22.5 19.7 17.6 13.7 7.8 23

 24 Consumption of fixed capital 1580.9 1601.5 1640.0 1697.1 1755.6 1772.2 1749.6 1760.1 1782.4 1796.8 1812.1 24

 25 Residential fixed investment 372.0 369.9 372.6 394.7 421.8 434.9 429.7 432.0 437.1 440.7 443.8 25

 26 Nonresidential fixed investment 290.7 293.4 305.0 317.0 330.4 341.3 338.1 339.0 342.8 345.5 347.6 26

 27 Consumer durables 918.1 938.2 962.5 985.4 1003.4 996.0 981.8 989.0 1002.5 1010.6 1020.7 27

 28 Net investment in nonfinancial assets (3) 113.2 181.5 295.5 367.4 405.4 499.0 479.6 505.5 506.8 504.3 493.3 28

 29 Residential fixed investment 4.5 11.5 64.2 107.9 120.3 165.3 150.3 162.1 170.1 178.9 203.2 29

 30 Nonresidential fixed investment 26.7 52.0 76.1 69.5 77.3 68.3 71.0 72.0 68.3 62.1 50.3 30

 31 Consumer durables 86.9 119.0 167.1 181.5 202.2 255.2 244.2 260.0 259.0 257.8 240.2 31

 32 Nonproduced nonfinancial assets -8.5 -7.8 -7.9 -8.2 -8.4 -8.3 -8.3 -8.3 -8.2 -8.3 -8.3 32

 33 Inventories 3.6 6.8 -4.0 16.6 13.9 18.4 22.5 19.7 17.6 13.7 7.8 33

 34 Net increase in liabilities -146.4 -89.9 506.4 425.7 711.3 783.4 630.0 971.9 522.0 1010.0 691.0 34

 35 Home mortgages -148.8 -88.6 -82.6 -2.1 51.2 150.2 1.4 245.5 185.9 168.1 166.9 35

 36 Other mortgages -31.7 -21.6 111.0 77.4 132.5 205.3 132.2 217.2 198.9 272.9 142.2 36

 37 Consumer credit -28.1 111.1 164.1 175.8 221.8 231.6 203.9 266.6 244.1 211.9 214.0 37

 38 Other loans and advances 77.6 -37.4 66.1 37.4 33.2 -76.3 -59.0 44.6 -294.3 3.4 -95.9 38

 39 Other liabilities -15.4 -53.4 247.9 137.1 272.6 272.6 351.5 197.9 187.4 353.8 263.8 39

 40 Net capital transfers paid (4) -28.4 0.4 -10.0 19.8 9.3 20.7 19.9 20.7 20.5 21.8 21.8 40

 41 Personal saving, FOF concept (FOF) 923.1 1624.8 1152.9 1253.7 1147.7 1362.1 1780.0 652.1 1351.7 1664.6 1373.2 41

 42 - Net investment in consumer durables 86.9 119.0 167.1 181.5 202.2 255.2 244.2 260.0 259.0 257.8 240.2 42

 43 - Government insurance and pension fund reserves (5) -3.2 -2.4 -2.5 -2.2 -2.0 -2.2 -2.5 -1.3 -2.5 -2.6 -2.7 43

 44 + Contr. for govt. soc. insur., U.S.-affiliated areas 4.9 4.4 4.6 5.2 5.1 5.3 5.2 5.2 5.3 5.3 5.4 44

 45 = Personal saving, NIPA concept (FOF) (6) 844.4 1512.7 992.9 1079.6 952.6 1114.4 1543.5 398.7 1100.5 1414.7 1141.1 45

 46 Personal saving, NIPA concept (NIPA) 630.0 710.1 946.7 589.9 620.2 685.7 687.6 663.9 680.2 711.3 782.6 46

 47 Difference 214.4 802.5 46.2 489.6 332.4 428.6 855.9 -265.2 420.3 703.4 358.5 47

 Memo:

 48 Disposable personal income 11237.9 11801.4 12403.7 12395.6 12913.9 13403.2 13179.8 13338.3 13486.4 13608.4 13754.2 48

 Personal saving as a percentage of disposable personal income:

 49 FOF concept (FOF data) (line 41) 8.21 13.77 9.29 10.11 8.89 10.16 13.51 4.89 10.02 12.23 9.98 49

 50 NIPA concept (FOF data) (line 44) 7.51 12.82 8.00 8.71 7.38 8.31 11.71 2.99 8.16 10.40 8.30 50

 51 NIPA concept (NIPA data) (line 45) 5.61 6.02 7.63 4.76 4.80 5.12 5.22 4.98 5.04 5.23 5.69 51

 52 Difference (line 46) 1.91 6.80 0.37 3.95 2.57 3.20 6.49 -1.99 3.12 5.17 2.61 52

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

(2) Directly held, and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 14), life insurance reserves (line 15), and pension entitlements (line 16).

(3) Line 18 less line 24.

(4) Table F.5, 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 28 less line 42) less net increase in liabilities (line 34)

 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 Z.1, June 9, 2016

L.6 Assets and Liabilities of the Personal Sector (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 49546.9 50083.7 54012.3 60483.5 63762.1 65146.5 64970.6 65183.0 63387.8 65146.5 65340.3 1

 2 Foreign deposits 67.3 57.4 49.5 51.7 45.3 30.5 43.8 39.1 35.1 30.5 25.3 2

 3 Checkable deposits and currency 955.1 1280.1 1503.0 1649.0 1820.7 2011.6 1891.1 1902.9 1851.2 2011.6 2030.4 3

 4 Time and savings deposits 6798.4 7174.3 7551.5 7773.7 8295.8 8823.1 8491.4 8491.3 8674.6 8823.1 8968.6 4

 5 Money market fund shares 1205.5 1186.7 1191.8 1222.0 1206.8 1157.5 1102.7 1088.0 1095.5 1157.5 1128.2 5

 6 Debt securities 4881.3 4483.0 4375.1 4394.7 4143.8 4612.5 4158.2 4340.1 4502.3 4612.5 4534.2 6

 7 Open market paper 21.1 19.4 18.8 15.0 14.9 13.7 15.2 15.7 14.3 13.7 11.7 7

 8 Treasury securities 1154.8 750.9 996.8 1200.1 899.9 1185.5 938.5 1012.9 1097.6 1185.5 1134.5 8

 9 Agency- and GSE-backed securities 289.8 330.6 239.9 279.7 336.5 539.8 307.7 356.1 434.3 539.8 504.8 9

 10 Municipal securities 1911.3 1832.5 1685.3 1697.0 1609.7 1601.5 1625.3 1651.3 1634.1 1601.5 1613.0 10

 11 Corporate and foreign bonds 1504.4 1549.7 1434.4 1202.9 1282.9 1272.0 1271.3 1304.1 1322.0 1272.0 1270.3 11

 12 Loans 964.9 953.7 952.6 1005.1 1059.8 1005.0 1061.1 1032.7 1029.8 1005.0 1041.4 12

 13 Other loans and advances 751.4 749.5 777.9 841.4 893.2 842.6 895.7 867.9 866.3 842.6 882.0 13

 14 Mortgages 142.1 137.2 116.7 111.9 118.9 118.2 118.6 118.8 118.1 118.2 116.6 14

 15 Consumer credit 71.3 67.1 58.0 51.8 47.6 44.2 46.8 46.1 45.5 44.2 42.8 15

 16 Corporate equities (2) 8694.4 8295.0 9669.9 12851.9 14203.3 13994.9 14729.8 14611.9 13256.1 13994.9 13851.6 16

 17 Mutual fund shares 4476.7 4435.2 5254.7 6250.5 6672.4 6556.5 6904.4 6906.3 6438.8 6556.5 6609.7 17

 18 Life insurance reserves 1137.5 1199.3 1186.4 1233.0 1282.8 1310.6 1300.0 1303.8 1298.3 1310.6 1324.3 18

 19 Pension entitlements 16873.8 17298.8 18334.7 19783.8 20587.3 20945.5 20795.0 20904.3 20594.5 20945.5 21080.2 19

 20 Life insurance companies 2198.7 2247.9 2433.0 2705.9 2820.5 2837.6 2843.6 2853.6 2783.7 2837.6 2862.6 20

 21 Private pension funds 6635.9 6749.9 7276.2 8097.6 8503.3 8570.9 8605.5 8636.7 8374.5 8570.9 8610.8 21

 22 Governments 8039.2 8301.0 8625.5 8980.3 9263.5 9537.0 9345.8 9414.0 9436.2 9537.0 9606.8 22

 23 Miscellaneous and other assets 3492.0 3720.3 3943.1 4267.9 4444.2 4698.9 4493.1 4562.7 4611.7 4698.9 4746.3 23

 24 Total liabilities 19460.2 19222.6 19519.8 19853.4 20517.0 21248.3 20588.4 20831.6 20987.9 21248.3 21341.0 24

 25 Home mortgages 10439.1 10196.7 9966.8 9872.4 9875.9 9975.9 9846.4 9892.9 9949.7 9975.9 9994.9 25

 26 Other mortgages 2542.3 2520.7 2631.7 2709.1 2841.6 3046.9 2874.6 2928.9 2978.7 3046.9 3082.4 26

 27 Consumer credit 2647.2 2758.3 2920.4 3096.2 3318.0 3534.6 3322.8 3397.8 3481.4 3534.6 3542.0 27

 28 Other loans and advances 414.3 376.9 443.1 480.5 513.7 437.4 499.0 510.1 436.5 437.4 413.4 28

 29 Other liabilities 3417.3 3370.0 3558.0 3695.2 3967.8 4253.5 4045.6 4101.8 4141.6 4253.5 4308.3 29

(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 17), life insurance reserves (line 18), and pension entitlements (line 19).
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F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid 2881.8 3166.2 3694.9 4021.1 4201.5 4367.9 4364.6 4364.1 4346.0 4396.9 4406.0 1

 2 Gross investment 2880.2 3125.4 3035.3 4215.9 3875.3 4815.5 5524.5 4433.3 4711.7 4592.7 4660.2 2

 3 Capital expenditures 3590.9 3761.1 4058.3 4203.1 4431.0 4645.2 4571.0 4644.3 4689.8 4675.6 4658.6 3

 4 Consumer durables 1005.0 1057.2 1129.5 1166.9 1205.6 1251.2 1225.9 1249.0 1261.5 1268.4 1260.9 4

 5 Fixed residential investment 387.0 388.0 443.0 500.3 547.2 615.4 582.4 597.1 640.8 641.3 669.9 5

 6 Fixed nonresidential investment 2137.4 2274.0 2424.0 2464.1 2601.2 2669.3 2635.4 2670.7 2692.2 2679.0 2654.3 6

 7 Inventory change 61.5 41.8 61.8 71.8 77.1 109.2 127.3 127.5 95.3 86.9 73.5 7

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

 9 Net lending (+) or net borrowing (-) -710.6 -635.7 -1023.0 12.8 -555.7 170.3 953.5 -211.1 21.9 -82.9 1.6 9

 10 Net acqisition of financial assets 1850.8 1906.8 2147.1 2667.3 2505.4 2948.7 3028.0 2754.4 2202.2 3810.3 2692.1 10

 11 U.S. official reserve assets 1.6 16.2 4.3 -3.3 -3.8 -6.4 -16.7 -3.6 -1.2 -4.0 3.6 11

 12 Foreign deposits 13.6 -15.7 -7.3 44.4 -15.3 -34.5 -75.7 2.0 -48.7 -15.6 -23.9 12

 13 Checkable deposits and currency 270.4 114.9 188.9 286.1 287.3 275.6 -143.8 875.0 -410.6 781.7 393.8 13

 14 Time and savings deposits 221.7 404.7 477.3 275.1 445.2 506.9 696.1 2.3 758.5 570.5 306.1 14

 15 Money market fund shares -323.7 -52.0 66.3 71.3 -9.4 -12.4 -216.6 121.2 -64.4 110.3 131.0 15

 16 Security repurchase agreements 3.5 -4.2 0.9 0.5 18.7 19.2 16.0 18.3 24.0 18.2 13.9 16

 17 Debt securities -102.4 -180.7 -118.0 -458.2 -84.8 357.5 63.3 -107.5 1081.4 392.8 -169.7 17

 18 Open market paper 23.9 -14.0 -16.8 -19.8 -3.7 -3.9 4.3 -1.4 -1.5 -17.0 -9.1 18

 19 Treasury securities 331.4 -232.2 267.2 -49.9 -199.5 283.0 40.3 7.6 544.4 539.8 -10.8 19

 20 Agency- and GSE-backed securities -20.0 -50.7 -122.1 -67.4 87.4 181.4 -131.6 177.4 403.6 276.0 -84.0 20

 21 Municipal securities 55.9 -44.0 -127.5 -29.9 -46.5 -4.2 36.9 -8.3 31.1 -76.5 9.3 21

 22 Corporate and foreign bonds -493.6 160.1 -118.9 -291.3 77.5 -98.8 113.4 -282.8 103.8 -329.5 -75.1 22

 23 Loans 144.3 129.5 145.2 173.8 181.8 75.9 160.8 17.0 88.8 36.9 277.4 23

 24 Other loans and advances 26.5 2.8 41.9 70.7 54.4 -47.3 11.8 -99.7 -14.4 -87.0 154.7 24

 25 Mortgages 0.4 -2.3 -16.2 0.6 20.0 24.0 26.0 20.8 23.2 26.1 29.2 25

 26 Consumer credit 117.4 129.0 119.4 102.5 107.4 99.2 123.0 95.9 80.0 97.9 93.5 26

 27 Corporate equities -188.2 -221.0 -204.7 171.0 70.2 -76.8 256.1 48.4 -800.4 188.6 243.5 27

 28 Mutual fund shares 184.5 115.9 252.9 249.8 197.9 141.2 156.8 181.5 198.6 27.9 -26.1 28

 29 Trade receivables 146.3 154.8 65.1 323.1 106.2 38.8 45.9 47.5 29.0 32.8 23.0 29

 30 Life insurance reserves 8.5 71.8 -29.5 9.3 37.0 33.9 49.0 20.5 47.2 19.1 52.3 30

 31 Pension entitlements 669.5 512.1 543.2 471.7 429.7 398.1 360.6 419.6 344.3 468.0 436.8 31

 32 Taxes payable 28.1 28.1 31.6 31.3 -16.2 22.8 97.8 19.6 -25.8 -0.6 69.0 32

 33 Equity in noncorporate business 167.3 231.5 90.3 173.2 24.2 23.9 16.8 20.0 48.3 10.3 3.8 33

 34 U.S. direct investment abroad 303.3 403.9 319.2 305.0 311.0 300.1 299.4 285.7 237.6 377.5 286.9 34

 35 Miscellaneous assets 302.6 197.0 321.4 543.0 525.9 885.1 1262.1 786.9 695.6 795.7 670.6 35

 36 Net increase in liabilities 2561.4 2542.5 3170.1 2654.4 3061.1 2778.4 2074.5 2965.4 2180.4 3893.3 2690.5 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 0.0 37

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

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

 40 Debt securities 1949.6 1281.5 1514.6 1106.4 1026.4 1187.7 392.2 965.6 467.2 2925.9 1363.4 40

 41 Open market paper 24.5 33.4 14.0 14.2 37.5 -5.4 -61.2 -53.2 70.3 22.5 33.9 41

 42 Treasury securities 1645.3 1137.6 1181.0 857.7 736.0 724.4 -155.3 347.9 24.5 2680.5 700.8 42

 43 Agency- and GSE-backed securities 0.7 1.1 -0.4 -0.4 -0.1 0.2 -1.0 2.1 -2.2 1.8 -0.5 43

 44 Municipal securities 99.7 -52.8 -4.9 -43.2 -18.8 66.6 157.3 52.4 50.7 5.9 100.3 44

 45 Corporate and foreign bonds 179.5 162.2 324.9 278.1 271.9 402.0 452.4 616.5 324.0 215.1 528.9 45

 46 Loans -380.5 15.4 396.1 459.9 809.7 801.9 765.6 1002.1 479.1 961.0 795.8 46

 47 Depository institution loans n.e.c. -53.7 70.7 276.9 124.3 278.1 277.2 361.0 201.9 226.0 319.8 415.9 47

 48 Other loans and advances -7.2 24.3 42.2 85.7 106.0 -101.3 9.4 30.4 -377.8 -67.3 -176.5 48

 49 Mortgages -291.5 -190.6 -87.1 74.0 203.8 394.5 191.3 503.1 386.9 496.6 342.4 49

 50 Consumer credit -28.1 111.1 164.1 175.8 221.8 231.6 203.9 266.6 244.1 211.9 214.0 50

 51 Corporate equities -250.7 -454.6 -344.9 -352.9 -392.2 -562.7 -591.4 -490.4 -626.2 -542.6 -703.1 51

 52 Trade payables 200.9 128.4 134.2 193.1 185.3 77.9 100.0 149.9 18.3 43.5 3.7 52

 53 Life insurance reserves 0.9 1.3 0.3 0.2 0.8 -0.1 -2.1 0.9 -0.6 1.3 -0.4 53

 54 Taxes payable 6.4 9.4 9.9 -5.9 2.3 6.7 39.0 24.7 -8.9 -27.9 -31.4 54

 55 Equity in noncorporate business 166.4 234.4 83.6 178.8 22.2 20.9 18.0 22.7 23.0 19.7 8.2 55

 56 Foreign direct investment in U.S. 157.4 192.7 188.7 185.5 98.0 349.0 769.8 314.6 165.8 145.7 174.6 56

 57 Miscellaneous liabilities 711.4 1134.0 1187.6 889.7 1309.0 897.0 583.4 975.3 1662.7 366.6 1079.6 57

 58 Discrepancy 1.6 40.8 659.6 -194.8 326.1 -447.6 -1159.9 -69.2 -365.7 -195.8 -254.2 58

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Personal income 12477.1 13254.5 13915.1 14068.4 14694.2 15350.7 15079.8 15277.0 15443.7 15602.1 15746.0 1

 2 - Personal current taxes 1239.3 1453.2 1511.4 1672.8 1780.2 1947.4 1900.1 1938.7 1957.3 1993.7 1991.8 2

 3 = Disposable personal income 11237.9 11801.4 12403.7 12395.6 12913.9 13403.2 13179.8 13338.3 13486.4 13608.4 13754.2 3

 4 - Personal outlays 10607.9 11091.2 11457.0 11805.7 12293.7 12717.5 12492.2 12674.5 12806.2 12897.1 12971.6 4

 5 = Personal saving, NIPA (2) 630.0 710.1 946.7 589.9 620.2 685.7 687.6 663.9 680.2 711.3 782.6 5

 6 + Government insurance and pension reserves (3) -3.2 -2.4 -2.5 -2.2 -2.0 -2.2 -2.5 -1.3 -2.5 -2.6 -2.7 6

 7 - Contr. for govt. soc. insur., U.S.-affiliated areas 4.9 4.4 4.6 5.2 5.1 5.3 5.2 5.2 5.3 5.3 5.4 7

 8 + Net investment in consumer durables 86.9 119.0 167.1 181.5 202.2 255.2 244.2 260.0 259.0 257.8 240.2 8

 9 + Consumption of fixed capital 1314.0 1336.5 1367.0 1412.5 1458.1 1465.3 1446.3 1455.1 1474.1 1486.0 1499.3 9

 10 - Net capital transfers paid (4) -20.6 2.0 -5.1 19.8 9.3 20.7 19.9 20.7 20.5 21.8 21.8 10

 11 = Gross saving less net capital transfers paid 2043.3 2156.8 2478.8 2156.7 2264.1 2378.1 2350.4 2351.7 2385.0 2425.4 2492.2 11

 12 Gross investment 2257.6 2959.3 2525.0 2646.4 2596.5 2806.7 3206.4 2086.5 2805.2 3128.8 2850.7 12

 13 Capital expenditures 1448.9 1501.3 1627.0 1717.1 1793.4 1897.8 1849.1 1889.2 1916.8 1936.1 1955.5 13

 14 Consumer durable goods 1005.0 1057.2 1129.5 1166.9 1205.6 1251.2 1225.9 1249.0 1261.5 1268.4 1260.9 14

 15 Residential 318.3 321.1 367.9 424.6 456.6 506.3 488.9 501.1 512.4 522.9 546.3 15

 16 Nonprofit nonresidential 134.1 130.8 137.4 133.7 139.7 148.5 142.5 147.4 151.1 153.0 156.6 16

 17 Nonproduced nonfinancial assets -8.5 -7.8 -7.9 -8.2 -8.4 -8.3 -8.3 -8.3 -8.2 -8.3 -8.3 17

 18 Net lending (+) or net borrowing (-) 808.8 1458.0 898.0 929.3 803.1 909.0 1357.3 197.3 888.4 1192.7 895.2 18

 19 Net acquisition of financial assets 706.2 1390.6 1156.2 1166.3 1231.0 1310.9 1630.4 773.4 1124.9 1714.7 1279.4 19

 20 Foreign deposits 4.5 -9.9 -7.9 2.3 -6.4 -14.8 -6.1 -18.8 -15.9 -18.5 -20.8 20

 21 Checkable deposits and currency 39.0 300.3 177.3 133.9 137.1 150.7 449.6 81.5 -199.2 271.0 245.6 21

 22 Time and savings deposits 164.8 370.0 412.0 210.0 433.6 459.3 541.7 100.2 674.8 520.6 335.8 22

 23 Money market fund shares -183.7 -19.6 2.0 28.2 -19.1 -54.1 -186.1 98.3 -139.9 11.1 120.1 23

 24 Debt securities -130.6 7.2 -95.5 -387.6 -116.6 286.5 -24.1 -72.8 933.0 309.9 -290.1 24

 25 Open market paper -1.5 -1.8 -0.6 -3.8 -0.1 -1.2 1.4 1.7 -5.5 -2.3 -7.9 25

 26 Treasury securities 315.5 -193.6 223.8 -33.7 -241.1 220.6 -16.5 44.5 437.2 417.2 -120.0 26

 27 Agency- and GSE-backed securities 0.5 83.0 -69.4 -33.6 97.3 189.7 -131.3 178.6 384.0 327.3 -84.2 27

 28 Municipal securities 57.1 -42.8 -128.5 -26.3 -45.6 -7.7 23.3 -2.7 33.6 -85.1 18.6 28

 29 Corporate and foreign bonds -502.1 162.4 -120.9 -290.2 72.9 -114.9 99.0 -294.9 83.7 -347.3 -96.6 29

 30 Loans 0.8 -5.3 12.4 51.5 53.0 -57.4 3.3 -116.4 -13.6 -103.1 143.2 30

 31 Other loans and advances (5) 22.9 -1.9 39.5 63.5 51.8 -50.6 9.8 -111.3 -6.2 -94.6 157.4 31

 32 Mortgages -10.9 0.9 -18.1 -5.8 5.4 -3.4 -3.4 -2.1 -5.0 -3.2 -8.6 32

 33 Consumer credit (student loans) -11.2 -4.3 -9.0 -6.2 -4.2 -3.4 -3.0 -3.1 -2.4 -5.3 -5.6 33

 34 Corporate equities (6) -212.4 -257.9 -192.7 176.4 69.3 -85.4 248.8 41.3 -811.0 179.2 232.1 34

 35 Mutual fund shares 170.3 128.9 254.0 248.9 181.4 129.4 145.5 170.7 185.7 15.6 -38.2 35

 36 Life insurance reserves 8.5 71.8 -29.5 9.3 37.0 33.9 49.0 20.5 47.2 19.1 52.3 36

 37 Pension entitlements (7) 669.5 512.1 543.2 471.7 429.7 398.1 360.6 419.6 344.3 468.0 436.8 37

 38 Equity in noncorporate business 167.3 231.5 90.3 173.2 24.2 23.9 16.8 20.0 48.3 10.3 3.8 38

 39 Miscellaneous assets 8.3 61.4 -9.5 48.5 7.8 40.8 31.4 29.2 71.3 31.4 58.9 39

 40 Net increase in liabilities -102.5 -67.4 258.2 236.9 428.0 401.9 273.1 576.1 236.5 522.0 384.2 40

 41 Debt securities (municipal securities) -2.2 -7.8 -14.5 -13.1 -4.8 -5.1 -0.4 -13.3 -9.9 3.3 7.5 41

 42 Loans -73.6 -60.5 268.1 246.1 428.4 404.3 267.4 584.4 247.0 518.2 371.3 42

 43 Home mortgages (8) -176.0 -73.2 -70.7 0.8 45.0 138.0 -1.5 229.3 169.0 155.3 156.1 43

 44 Consumer credit -28.1 111.1 164.1 175.8 221.8 231.6 203.9 266.6 244.1 211.9 214.0 44

 45 Depository institution loans n.e.c. (9) 50.1 -54.9 110.8 28.2 121.1 100.6 118.7 31.5 117.3 134.8 92.1 45

 46 Other loans and advances 77.6 -37.4 66.1 37.4 33.2 -76.3 -59.0 44.6 -294.3 3.4 -95.9 46

 47 Commercial mortgages 2.8 -6.1 -2.2 3.8 7.4 10.4 5.3 12.5 10.8 12.9 5.0 47

 48 Trade payables -29.4 1.2 4.0 1.0 3.1 1.2 1.4 1.8 1.0 0.8 0.3 48

 49 Deferred and unpaid life insurance premiums 2.7 -0.4 0.6 3.0 1.2 1.5 4.6 3.2 -1.6 -0.2 5.1 49

 50 Discrepancy -214.4 -802.5 -46.2 -489.6 -332.4 -428.6 -855.9 265.2 -420.3 -703.4 -358.5 50

(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.6 for derivation of alternative measures of personal saving.

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

(4) Table F.5, line 63.

(5) Includes cash accounts at brokers and dealers and 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 35) and life insurance reserves (line 36), and pension entitlements (line 37).

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Income before taxes 2206.6 2311.0 2652.7 2777.8 2890.5 3027.8 2991.5 3099.7 3078.5 2941.6 3019.7 1

 2 Gross saving less net capital transfers paid 1951.3 1995.1 2034.3 2170.7 2205.5 2172.0 2204.2 2203.6 2186.8 2093.4 2121.5 2

 3 Gross investment 1655.2 1200.9 1300.1 1886.9 1465.7 2151.1 2311.1 2396.4 2107.6 1789.3 1842.1 3

 4 Capital expenditures 1480.6 1613.5 1809.8 1886.6 2034.6 2157.2 2119.5 2253.4 2143.3 2112.5 2065.7 4

 5 Fixed investment 1420.1 1572.3 1747.2 1813.8 1956.2 2018.5 1993.1 2005.8 2048.6 2026.4 1993.3 5

 6 Residential 58.8 58.4 69.0 69.3 84.8 103.4 88.1 90.4 122.6 112.7 117.8 6

 7 Nonresidential 1361.4 1513.9 1678.2 1744.5 1871.4 1915.1 1905.0 1915.4 1926.1 1913.7 1875.4 7

 8 Change in inventories 61.5 41.8 61.8 71.8 77.1 109.2 127.3 127.5 95.3 86.9 73.5 8

 9 Nonproduced nonfinancial assets -1.1 -0.5 0.8 1.0 1.2 29.4 -0.8 120.1 -0.7 -0.8 -1.1 9

 10 Net lending (+) or net borrowing (-) 174.7 -412.6 -509.7 0.3 -568.9 -6.1 191.5 143.0 -35.7 -323.2 -223.5 10

 11 Net acquisition of financial assets 784.7 693.6 807.5 1294.2 1029.6 1231.7 1435.1 1239.1 971.0 1281.7 992.5 11

 12 Foreign deposits 9.1 -5.8 0.6 42.1 -8.9 -19.6 -69.5 20.8 -32.8 2.9 -3.1 12

 13 Checkable deposits and currency 76.8 55.5 13.7 75.5 73.6 24.1 -119.0 253.2 13.2 -50.9 162.4 13

 14 Time and savings deposits 62.8 19.2 43.4 47.4 4.0 37.4 124.4 -98.9 88.6 35.7 -34.8 14

 15 Money market fund shares -154.6 -34.6 60.1 41.7 3.0 23.5 -47.0 8.6 53.1 79.0 -10.5 15

 16 Security repurchase agreements 4.3 0.4 -2.9 -1.0 12.9 4.0 2.4 6.5 5.7 1.6 -3.2 16

 17 Debt securities 18.0 -7.4 -8.2 -12.7 12.1 -3.4 -17.4 -14.7 -15.6 34.2 -20.6 17

 18 Commercial paper 12.0 -0.1 -8.4 -6.6 3.5 -2.0 6.5 1.9 -9.5 -6.9 3.6 18

 19 Treasury securities 7.0 -4.2 0.5 1.6 5.1 -1.6 -26.4 -6.4 -0.6 26.9 -8.9 19

 20 Agency- and GSE-backed securities 1.7 -1.7 -1.2 -4.2 4.8 -2.0 -9.9 -3.6 -1.3 7.0 -4.1 20

 21 Municipal securities -2.6 -1.4 0.8 -3.5 -1.3 2.2 12.4 -6.6 -4.2 7.2 -11.1 21

 22 Loans 0.1 -4.1 -3.3 -2.1 7.4 6.7 21.8 3.5 -6.9 8.5 16.6 22

 23 Mortgages 2.6 -6.4 -4.3 2.6 6.5 7.5 6.9 7.7 6.9 8.5 7.1 23

 24 Consumer credit -2.5 2.3 1.0 -4.6 0.9 -0.8 14.9 -4.2 -13.8 -0.0 9.5 24

 25 Mutual fund shares 11.1 -12.8 -1.7 1.2 15.1 7.4 7.4 7.4 7.4 7.4 6.2 25

 26 Trade receivables 133.9 144.4 57.1 310.4 101.3 37.4 35.7 39.6 37.8 36.4 10.3 26

 27 U.S. direct investment abroad 303.3 403.9 319.2 305.0 311.0 300.1 299.4 285.7 237.6 377.5 286.9 27

 28 Miscellaneous assets 319.8 134.9 329.5 486.5 498.1 814.1 1196.8 727.4 582.8 749.4 582.3 28

 29 Net increase in liabilities 610.0 1106.2 1317.2 1293.9 1598.4 1237.8 1243.5 1096.0 1006.7 1604.9 1216.1 29

 30 Debt securities 237.2 204.1 354.1 301.6 309.3 412.5 422.3 599.8 403.0 224.7 590.2 30

 31 Commercial paper 24.5 33.4 14.0 14.2 37.5 -5.4 -61.2 -53.2 70.3 22.5 33.9 31

 32 Municipal securities 33.2 8.5 15.2 9.3 -0.1 15.9 31.2 36.6 8.7 -12.9 27.4 32

 33 Corporate bonds 179.5 162.2 324.9 278.1 271.9 402.0 452.4 616.5 324.0 215.1 528.9 33

 34 Loans -307.8 75.0 127.6 213.3 380.9 397.4 497.8 417.5 232.4 442.0 423.7 34

 35 Depository institution loans n.e.c. -103.8 125.6 166.1 96.1 157.0 176.6 242.4 170.4 108.6 185.0 323.8 35

 36 Other loans and advances -85.7 60.8 -24.3 47.7 72.4 -25.3 67.9 -14.3 -83.3 -71.5 -81.4 36

 37 Mortgages -118.3 -111.4 -14.1 69.4 151.5 246.1 187.5 261.4 207.0 328.5 181.3 37

 38 Corporate equities -250.7 -454.6 -344.9 -352.9 -392.2 -562.7 -591.4 -490.4 -626.2 -542.6 -703.1 38

 39 Trade payables 186.6 80.0 78.7 135.4 143.5 25.6 76.5 83.1 -48.9 -8.3 -45.4 39

 40 Taxes payable 6.4 9.4 9.9 -5.9 2.3 6.7 39.0 24.7 -8.9 -27.9 -31.4 40

 41 Foreign direct investment in U.S. 157.4 192.7 188.7 185.5 98.0 349.0 769.8 314.6 165.8 145.7 174.6 41

 42 Miscellaneous liabilities 414.6 765.2 819.4 638.1 1034.5 588.4 11.6 124.0 866.6 1351.5 799.2 42

 43 Proprietors’ net investment 166.4 234.4 83.6 178.8 22.2 20.9 18.0 22.7 23.0 19.7 8.2 43

 44 Discrepancy 296.1 794.2 734.3 283.7 739.8 20.9 -106.9 -192.8 79.2 304.1 279.4 44

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Profits before tax (book) 1039.2 1008.9 1241.4 1323.2 1366.1 1448.5 1436.8 1532.4 1485.4 1339.4 1408.2 1

 2 - Taxes on corporate income 220.6 228.8 266.7 284.6 316.2 346.6 341.4 362.3 353.4 329.3 330.8 2

 3 - Net dividends 375.5 441.0 517.9 525.2 573.8 585.8 588.6 579.7 589.4 585.7 573.3 3

 4 + Capital consumption allowance (1) 1077.3 1236.1 1107.0 1141.7 1192.2 1055.1 1032.2 1044.4 1066.2 1077.5 1079.5 4

 5 = U.S. internal funds, book 1520.4 1575.2 1563.8 1655.0 1668.2 1571.2 1538.9 1634.9 1608.8 1501.9 1583.7 5

 6 + Foreign earnings retained abroad 218.2 215.1 189.8 222.1 236.1 229.3 259.7 238.9 209.5 209.0 174.4 6

 7 + Inventory valuation adjustment (IVA) -41.0 -68.3 -14.2 3.2 -2.9 61.5 99.2 20.5 56.5 69.7 48.9 7

 8 - Net capital transfers paid (2) 20.9 -6.4 -17.0 -5.7 -6.7 -3.2 -3.0 -4.3 -3.7 -1.9 -1.7 8

 9 = Total internal funds + IVA 1676.7 1728.5 1756.4 1886.1 1908.1 1865.2 1900.9 1898.7 1878.5 1782.6 1808.7 9

 10 Gross investment 1380.6 934.3 1022.1 1602.4 1168.2 1844.2 2007.7 2091.5 1799.3 1478.5 1529.3 10

 11 Capital expenditures 1235.4 1331.9 1501.2 1539.2 1666.9 1783.7 1739.4 1877.1 1770.9 1747.5 1715.8 11

 12 Fixed investment (3) 1178.6 1297.4 1434.7 1483.0 1602.6 1663.4 1635.5 1649.2 1693.9 1675.2 1651.2 12

 13 Inventory change + IVA 57.9 34.9 65.8 55.2 63.2 90.8 104.8 107.8 77.7 73.1 65.7 13

 14 Nonproduced nonfinancial assets -1.1 -0.5 0.8 1.0 1.2 29.4 -0.8 120.1 -0.7 -0.8 -1.1 14

 15 Net lending (+) or net borrowing (-) 145.2 -397.5 -479.1 63.2 -498.7 60.5 268.3 214.3 28.4 -269.0 -186.4 15

 16 Net acquisition of financial assets 632.7 496.8 506.3 989.5 794.2 895.9 1137.0 891.9 726.5 828.1 714.7 16

 17 Foreign deposits 9.1 -5.8 0.6 42.1 -8.9 -19.6 -69.5 20.8 -32.8 2.9 -3.1 17

 18 Checkable deposits and currency 79.6 30.8 -45.5 63.5 39.0 -16.1 -148.9 209.6 -16.4 -108.9 125.5 18

 19 Time and savings deposits 59.9 13.2 33.3 35.8 -21.5 -29.6 51.5 -130.5 15.8 -55.1 -109.3 19

 20 Money market fund shares -157.7 -35.4 57.1 39.7 -0.9 18.6 -51.9 3.8 50.2 72.2 -13.8 20

 21 Security repurchase agreements 4.3 0.4 -2.9 -1.0 12.9 4.0 2.4 6.5 5.7 1.6 -3.2 21

 22 Debt securities 15.6 -8.5 -12.5 -13.2 9.3 -7.9 -21.0 -19.6 -19.1 27.9 -24.4 22

 23 Commercial paper 12.0 -0.1 -8.4 -6.6 3.5 -2.0 6.5 1.9 -9.5 -6.9 3.6 23

 24 Treasury securities 5.1 -5.1 -3.5 -0.6 2.5 -5.9 -29.7 -10.9 -3.9 21.1 -12.4 24

 25 Agency- and GSE-backed securities 1.7 -1.7 -1.2 -4.2 4.8 -2.0 -9.9 -3.6 -1.3 7.0 -4.1 25

 26 Municipal securities -3.2 -1.6 0.6 -1.7 -1.5 1.9 12.2 -6.9 -4.4 6.7 -11.4 26

 27 Loans -4.1 1.7 -0.9 -3.1 5.8 4.1 19.7 0.6 -8.9 4.8 14.4 27

 28 Mortgages -1.6 -0.6 -1.9 1.6 4.9 4.9 4.9 4.9 4.9 4.9 4.9 28

 29 Consumer credit -2.5 2.3 1.0 -4.6 0.9 -0.8 14.9 -4.2 -13.8 -0.0 9.5 29

 30 Mutual fund shares 11.1 -12.8 -1.7 1.2 15.1 7.4 7.4 7.4 7.4 7.4 6.2 30

 31 Trade receivables 96.9 83.4 52.6 261.6 70.8 -12.4 -3.0 -13.8 -0.6 -32.4 -31.1 31

 32 U.S. direct investment abroad (4) 303.3 403.9 319.2 305.0 311.0 300.1 299.4 285.7 237.6 377.5 286.9 32

 33 Miscellaneous assets 214.8 25.8 107.1 257.8 361.6 647.4 1050.7 521.3 487.7 530.1 466.5 33

 34 Insurance receivables 11.7 12.3 8.0 -6.0 10.2 2.0 -6.4 8.2 11.7 -5.6 9.5 34

 35 Equity in GSEs 0.1 -0.0 0.0 0.0 0.1 0.1 0.3 -0.1 0.0 0.1 0.4 35

 36 Investment in finance co. subs. 26.7 8.4 2.6 14.7 14.1 -4.1 -7.6 -16.1 -1.6 8.8 -23.0 36

 37 Other 176.3 5.2 96.5 249.0 337.2 649.5 1064.5 529.3 477.5 526.8 479.6 37

 38 Net increase in liabilities 487.6 894.3 985.4 926.3 1292.9 835.4 868.6 677.6 698.2 1097.2 901.1 38

 39 Debt securities 237.2 204.1 354.1 301.6 309.3 412.5 422.3 599.8 403.0 224.7 590.2 39

 40 Commercial paper 24.5 33.4 14.0 14.2 37.5 -5.4 -61.2 -53.2 70.3 22.5 33.9 40

 41 Municipal securities (5) 33.2 8.5 15.2 9.3 -0.1 15.9 31.2 36.6 8.7 -12.9 27.4 41

 42 Corporate bonds (4) 179.5 162.2 324.9 278.1 271.9 402.0 452.4 616.5 324.0 215.1 528.9 42

 43 Loans -288.4 131.9 -47.5 104.1 175.9 85.0 273.4 78.5 -21.0 8.9 133.0 43

 44 Depository institution loans n.e.c. -87.0 152.1 101.5 63.7 92.8 77.2 126.7 71.7 74.8 35.5 160.7 44

 45 Other loans and advances (6) -90.4 60.2 -33.5 41.7 63.0 -31.2 89.0 -33.6 -97.9 -82.3 -61.0 45

 46 Mortgages -110.9 -80.4 -115.4 -1.2 20.2 39.0 57.7 40.3 2.1 55.7 33.3 46

 47 Corporate equities -250.7 -454.6 -344.9 -352.9 -392.2 -562.7 -591.4 -490.4 -626.2 -542.6 -703.1 47

 48 Trade payables 156.3 25.2 65.4 101.3 108.7 -25.9 26.7 32.7 -83.0 -79.9 -83.0 48

 49 Taxes payable 7.2 8.8 2.3 -9.1 -1.4 -1.9 24.3 18.2 -13.6 -36.3 -36.5 49

 50 Foreign direct investment in U.S. 157.0 192.7 188.3 184.9 97.1 347.2 766.2 312.5 165.0 145.1 176.2 50

 51 Miscellaneous liabilities 468.9 786.2 767.7 596.3 995.5 581.2 -53.0 126.4 874.0 1377.2 824.3 51

 52 Pension fund contributions payable 15.4 3.0 -12.3 -2.5 -1.1 2.8 6.7 1.1 -0.1 3.3 -6.0 52

 53 Claims of pension fund on sponsor -32.1 -19.5 -11.6 110.9 54.2 43.3 -21.4 51.3 56.5 86.7 82.6 53

 54 Other 485.6 802.7 791.6 487.9 942.3 535.1 -38.3 74.0 817.6 1287.2 747.6 54

 55 Discrepancy 296.1 794.2 734.3 283.7 739.8 20.9 -106.9 -192.8 79.2 304.1 279.4 55

 Memo:

 56 Financing gap (7) -244.0 -175.1 -48.4 -119.1 1.6 151.1 101.3 221.7 105.6 175.8 83.2 56

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

(2) Table F.5, line 58.

(3) Nonresidential fixed investment plus residential fixed investment, shown in table F.2, 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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F.104 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving = consumption of fixed capital 266.9 265.0 273.0 284.5 297.5 306.8 303.3 305.0 308.3 310.8 312.8 1

 2 Gross saving less net capital transfers paid (1) 274.7 266.6 277.9 284.5 297.5 306.8 303.3 305.0 308.3 310.8 312.8 2

 3 Gross investment 274.7 266.6 277.9 284.5 297.5 306.8 303.3 305.0 308.3 310.8 312.8 3

 4 Capital expenditures 245.1 281.7 308.6 347.4 367.6 373.4 380.1 376.3 372.4 365.0 349.9 4

 5 Fixed investment (2) 241.5 274.8 312.6 330.8 353.7 355.0 357.6 356.6 354.7 351.2 342.1 5

 6 Change in inventories 3.6 6.8 -4.0 16.6 13.9 18.4 22.5 19.7 17.6 13.7 7.8 6

 7 Net lending (+) or net borrowing (-) 29.5 -15.1 -30.7 -62.8 -70.1 -66.6 -76.8 -71.3 -64.1 -54.2 -37.1 7

 8 Net acquisition of financial assets 152.0 196.9 301.1 304.7 235.4 335.8 298.1 347.1 244.4 453.5 277.9 8

 9 Checkable deposits and currency -2.7 24.6 59.3 12.0 34.6 40.2 29.9 43.5 29.6 58.0 36.9 9

 10 Time and savings deposits 2.9 6.0 10.1 11.5 25.5 67.0 72.9 31.6 72.8 90.7 74.5 10

 11 Money market mutual funds 3.1 0.8 3.0 2.0 3.9 4.9 4.9 4.8 2.9 6.8 3.3 11

 12 Debt securities 2.5 1.1 4.2 0.5 2.8 4.6 3.6 4.9 3.5 6.3 3.8 12

 13 Treasury securities 1.9 0.8 4.0 2.2 2.6 4.2 3.3 4.5 3.3 5.9 3.5 13

 14 Municipal securities 0.5 0.3 0.2 -1.7 0.2 0.3 0.3 0.4 0.3 0.5 0.3 14

 15 Loans 4.2 -5.8 -2.4 1.0 1.6 2.7 2.1 2.9 2.1 3.7 2.2 15

 16 Mortgages 4.2 -5.8 -2.4 1.0 1.6 2.7 2.1 2.9 2.1 3.7 2.2 16

 17 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Trade receivables 37.0 61.0 4.6 48.8 30.4 49.8 38.7 53.3 38.4 68.8 41.3 18

 19 Miscellaneous assets 105.0 109.1 222.4 228.8 136.5 166.6 146.1 206.1 95.1 219.3 115.8 19

 20 Insurance receivables 29.9 -4.7 15.4 -26.0 12.9 -11.0 -13.5 -9.0 -8.6 -13.0 -1.8 20

 21 Equity investment in GSEs (3) 0.4 0.3 0.1 0.6 0.8 0.5 0.4 0.5 0.6 0.6 0.3 21

 22 Other 74.7 113.5 206.9 254.1 122.8 177.2 159.3 214.6 103.1 231.7 117.3 22

 23 Net increase in liabilities 122.4 211.9 331.8 367.5 305.5 402.4 374.9 418.5 308.5 507.7 315.0 23

 24 Loans -19.4 -56.8 175.1 109.1 205.0 312.4 224.3 339.0 253.3 433.1 290.7 24

 25 Depository institution loans n.e.c. -16.8 -26.5 64.6 32.4 64.2 99.4 115.6 98.7 33.9 149.6 163.0 25

 26 Other loans and advances 4.7 0.6 9.2 6.1 9.4 5.9 -21.1 19.4 14.6 10.7 -20.3 26

 27 Mortgages -7.4 -30.9 101.3 70.7 131.4 207.1 129.8 221.0 204.9 272.8 148.0 27

 28 Trade payables 30.3 54.8 13.3 34.0 34.8 51.5 49.8 50.4 34.0 71.6 37.6 28

 29 Taxes payable -0.7 0.6 7.6 3.2 3.7 8.6 14.7 6.5 4.7 8.4 5.0 29

 30 Foreign direct investment in U.S. 0.3 0.0 0.4 0.6 0.8 1.8 3.6 2.2 0.8 0.6 -1.6 30

 31 Miscellaneous liabilities -54.3 -21.0 51.8 41.8 39.0 7.2 64.5 -2.4 -7.4 -25.8 -25.1 31

 32 Proprietors’ net investment 166.4 234.4 83.6 178.8 22.2 20.9 18.0 22.7 23.0 19.7 8.2 32

(1) Net capital transfers paid from table F.5, line 59.

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

(3) Equity in the Farm Credit System.
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F.105 General Government (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 4441.8 4604.6 4756.2 5277.8 5490.3 5759.7 5638.5 5736.2 5788.4 5875.6 5834.2 1

 2 Personal current taxes 1239.3 1453.2 1511.4 1672.8 1780.2 1947.4 1900.1 1938.7 1957.3 1993.7 1991.8 2

 3 Taxes on production and imports 1057.1 1102.6 1132.1 1178.0 1213.7 1236.0 1226.8 1234.1 1238.2 1244.7 1246.8 3

 4 Taxes on corporate income 346.3 349.6 415.6 434.7 476.2 490.6 480.0 509.8 502.4 470.1 469.1 4

 5 Taxes from the rest of the world 15.7 16.7 18.1 19.3 21.7 24.7 24.6 24.8 25.4 23.9 24.7 5

 6 Contributions for govt. social insurance 989.0 922.2 956.2 1112.0 1164.1 1209.3 1191.0 1204.1 1213.2 1228.7 1243.2 6

 7 Income receipts on assets 137.2 135.6 128.0 237.5 150.5 129.0 122.8 122.1 147.9 123.1 133.8 7

 8 Current transfer receipts 680.1 649.2 614.1 642.3 702.1 739.3 709.8 718.6 720.0 808.8 742.8 8

 9 Current surplus of government enterprises -22.9 -24.5 -19.3 -18.8 -18.3 -16.5 -16.6 -16.1 -16.0 -17.4 -18.0 9

 10 Current expenditures, NIPA basis 6007.8 6064.7 6067.1 6105.8 6289.4 6483.4 6368.2 6464.9 6554.7 6545.6 6590.2 10

 11 Consumption expenditures 2522.2 2530.9 2544.1 2522.0 2556.3 2572.0 2556.2 2565.6 2580.2 2585.9 2584.7 11

 12 Government social benefits 2298.3 2327.3 2341.5 2404.3 2506.6 2639.8 2603.2 2628.6 2652.8 2674.7 2704.5 12

 13 Other current transfer payments 558.8 530.1 499.3 504.0 547.2 584.4 583.9 567.4 595.2 591.0 599.4 13

 14 Interest payments 572.7 616.4 624.0 616.2 621.4 628.5 567.3 644.9 667.3 634.7 641.3 14

 15 Subsidies 55.9 60.1 58.0 59.4 57.9 58.6 57.6 58.5 59.2 59.3 60.3 15

 16 Net saving, NIPA basis -1566.0 -1460.1 -1310.8 -828.0 -799.2 -723.7 -729.7 -728.7 -766.3 -669.9 -756.0 16

 17 + Consumption of fixed capital 458.1 479.6 496.2 506.2 516.8 522.2 520.8 520.3 521.7 525.9 525.9 17

 18 - Insurance and pension fund reserves (2) -3.2 -2.4 -2.5 -2.2 -2.0 -2.2 -2.5 -1.3 -2.5 -2.6 -2.7 18

 19 - Net capital transfers (3) 8.1 7.6 6.1 -13.3 -12.2 -17.1 -16.5 -15.9 -16.4 -19.6 -19.8 19

 20 = Gross saving less net capital transfers -1112.8 -985.7 -818.2 -306.3 -268.1 -182.2 -190.0 -191.2 -225.7 -121.9 -207.6 20

 21 Gross investment -1032.7 -1034.8 -789.7 -317.4 -186.9 -142.3 7.1 -49.7 -201.1 -325.4 -32.6 21

 22 Fixed investment 651.8 637.9 614.4 592.3 595.8 611.4 593.3 613.5 620.8 618.0 628.0 22

 23 Nonproduced nonfinancial assets 9.6 8.3 7.2 7.2 7.2 -21.2 9.1 -111.9 8.9 9.1 9.4 23

 24 Net lending (+) or net borrowing (-) -1694.1 -1681.1 -1411.3 -916.8 -789.9 -732.5 -595.3 -551.4 -830.9 -952.4 -670.0 24

 25 Net acquisition of financial assets 359.8 -177.4 183.4 206.8 244.8 406.2 -37.5 741.9 106.4 813.9 420.1 25

 26 U.S. official reserve assets 1.6 16.2 4.3 -3.3 -3.8 -6.4 -16.7 -3.6 -1.2 -4.0 3.6 26

 27 Checkable deposits and currency 154.6 -240.8 -2.1 76.7 76.6 100.7 -474.4 540.2 -224.5 561.6 -14.2 27

 28 Time and savings deposits -5.9 15.5 21.9 17.7 7.6 10.1 30.0 1.0 -4.9 14.3 5.2 28

 29 Money market fund shares 14.6 2.1 4.3 1.3 6.8 18.3 16.4 14.3 22.3 20.2 21.4 29

 30 Security repurchase agreements -0.8 -4.7 3.8 1.5 5.9 15.1 13.6 11.9 18.4 16.6 17.1 30

 31 Debt securities 10.2 -180.5 -14.3 -57.9 19.7 74.4 104.8 -20.0 164.0 48.7 141.0 31

 32 Open market paper 13.4 -12.1 -7.8 -9.4 -7.1 -0.7 -3.6 -4.9 13.5 -7.9 -4.7 32

 33 Treasury securities 8.9 -34.4 42.8 -17.8 36.5 64.1 83.2 -30.5 107.8 95.7 118.1 33

 34 Agency- and GSE-backed securities -22.1 -132.0 -51.5 -29.6 -14.7 -6.3 9.6 2.4 21.0 -58.3 4.3 34

 35 Municipal securities 1.4 0.2 0.2 -0.1 0.4 1.3 1.2 1.0 1.6 1.4 1.7 35

 36 Corporate and foreign bonds 8.6 -2.3 2.0 -1.1 4.6 16.1 14.4 12.0 20.1 17.8 21.6 36

 37 Loans 143.4 138.9 136.1 124.3 121.4 126.6 135.7 130.0 109.3 131.5 117.6 37

 38 Mortgages 8.7 3.2 6.2 3.9 8.1 19.9 22.5 15.1 21.3 20.7 30.7 38

 39 Consumer credit 131.1 131.0 127.5 113.3 110.7 103.4 111.2 103.2 96.1 103.2 89.5 39

 40 Other loans and advances 3.6 4.8 2.4 7.2 2.5 3.3 2.0 11.6 -8.2 7.6 -2.7 40

 41 Corporate equities 24.3 36.9 -12.0 -5.4 0.8 8.6 7.2 7.0 10.5 9.5 11.5 41

 42 Mutual fund shares 3.0 -0.2 0.6 -0.3 1.3 4.4 4.0 3.3 5.5 4.9 5.9 42

 43 Trade receivables 12.4 10.4 8.0 12.7 4.9 1.4 10.2 7.9 -8.9 -3.6 12.7 43

 44 Taxes receivable 28.1 28.1 31.6 31.3 -16.2 22.8 97.8 19.6 -25.8 -0.6 69.0 44

 45 Miscellaneous assets -25.5 0.7 1.3 8.0 20.1 30.2 33.9 30.3 41.6 14.9 29.3 45

 46 Net increase in liabilities 2053.9 1503.7 1594.7 1123.6 1034.8 1138.7 557.9 1293.3 937.2 1766.3 1090.2 46

 47 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 Treasury currency -0.3 0.0 0.0 -0.4 -0.3 -0.0 0.0 0.0 0.0 -0.0 0.0 49

 50 Debt securities 1714.6 1085.1 1174.9 817.9 721.9 780.3 -29.8 379.1 74.1 2697.8 765.7 50

 51 Treasury securities 1645.3 1137.6 1181.0 857.7 736.0 724.4 -155.3 347.9 24.5 2680.5 700.8 51

 52 Municipal securities 68.7 -53.6 -5.7 -39.4 -14.0 55.7 126.5 29.1 51.8 15.5 65.4 52

 53 Loans 0.9 0.9 0.4 0.5 0.4 0.3 0.4 0.1 -0.3 0.8 0.8 53

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

 55 Other loans and advances 0.9 0.9 0.4 0.5 0.4 0.3 0.4 0.1 -0.3 0.8 0.8 55

 56 Trade payables 43.7 47.2 51.5 56.7 38.7 51.1 22.1 65.0 66.3 51.0 48.8 56

 57 Insurance reserves 0.9 1.3 0.3 0.2 0.8 -0.1 -2.1 0.9 -0.6 1.3 -0.4 57

 58 Miscellaneous liabilities 294.2 369.3 367.6 248.6 273.3 307.1 567.3 848.1 797.7 -984.7 275.3 58

 59 Discrepancy -80.2 49.1 -28.5 11.1 -81.3 -39.9 -197.1 -141.6 -24.6 203.5 -175.0 59

 Memo:

 60 Net acquisition of financial assets (consolidated) (4) 350.0 -143.9 140.1 224.1 208.0 341.9 -121.1 772.3 -1.2 717.4 301.2 60

 61 Net increase in liabilities (consolidated) (4) 2044.1 1537.2 1551.4 1140.9 997.9 1074.4 474.2 1323.7 829.7 1669.8 971.2 61

(1) Sum of the federal government and state and local governments sectors.

(2) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector.

 Includes value of Treasury and agency- and GSE-backed securities held by state and local government employee retirement funds.

(3) Table F.5, line 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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F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 2443.3 2574.1 2699.1 3141.3 3265.2 3434.9 3356.5 3440.4 3468.1 3474.8 3491.7 1

 2 Personal current taxes 941.6 1129.1 1164.7 1300.6 1396.9 1538.0 1501.0 1527.2 1547.1 1576.5 1572.8 2

 3 Taxes on production and imports 96.8 108.6 115.1 125.8 137.8 142.6 140.5 145.3 140.2 144.5 142.7 3

 4 Taxes on corporate income 298.7 299.4 363.1 379.2 417.9 431.2 419.0 448.7 443.6 413.7 410.6 4

 5 Taxes from the rest of the world 15.7 16.7 18.1 19.3 21.7 24.7 24.6 24.8 25.4 23.9 24.7 5

 6 Contributions for govt. social insurance 970.9 904.0 938.1 1093.4 1145.2 1190.4 1172.2 1185.3 1194.4 1209.8 1224.1 6

 7 Income receipts on assets 54.6 56.4 52.6 163.2 74.8 51.0 45.7 44.5 69.5 44.3 54.1 7

 8 Current transfer receipts 68.1 67.1 56.1 71.1 80.6 65.5 61.6 72.6 55.9 71.7 73.2 8

 9 Current surplus of government enterprises -3.1 -7.1 -8.9 -11.3 -9.7 -8.5 -8.1 -8.0 -8.1 -9.7 -10.6 9

 10 Current expenditures, NIPA basis 3772.0 3818.3 3789.1 3782.2 3896.7 4023.2 3935.8 4014.6 4079.8 4062.7 4101.7 10

 11 Consumption expenditures 1003.9 1006.1 1007.8 961.3 955.3 960.6 956.7 957.2 961.3 967.3 966.1 11

 12 Government social benefits 1774.4 1796.9 1801.5 1842.0 1896.8 1979.9 1955.5 1974.9 1987.0 2002.4 2027.6 12

 13 Other current transfer payments 558.8 530.1 499.3 504.0 547.2 584.4 583.9 567.4 595.2 591.0 599.4 13

 14 Interest payments 380.6 425.7 422.9 416.1 440.1 440.1 382.6 457.2 477.6 443.2 448.7 14

 15 Subsidies 54.3 59.5 57.6 58.9 57.4 58.1 57.1 58.0 58.7 58.8 59.8 15

 16 Net saving, NIPA basis -1328.7 -1244.1 -1090.1 -640.9 -631.5 -588.3 -579.3 -574.2 -611.7 -587.8 -610.0 16

 17 + Consumption of fixed capital 245.3 257.4 264.3 267.7 270.7 272.7 272.0 271.2 271.8 275.7 276.2 17

 18 - Insurance and pension reserves (1) -3.2 -2.4 -2.5 -2.2 -2.0 -2.2 -2.5 -1.3 -2.5 -2.6 -2.7 18

 19 - Net capital transfers paid (2) 84.8 81.5 80.2 58.1 58.8 53.7 52.5 52.8 56.0 53.4 52.9 19

 20 = Gross saving less net capital transfers paid -1165.0 -1065.8 -903.5 -429.1 -417.5 -367.0 -357.3 -354.5 -393.4 -363.0 -384.0 20

 21 Gross investment -1117.9 -1053.5 -848.5 -393.2 -352.7 -292.7 -193.9 -137.7 -433.4 -405.7 -311.2 21

 22 Fixed investment 300.0 297.4 284.7 269.4 264.6 264.0 261.5 263.5 263.1 267.9 269.0 22

 23 Nonproduced nonfinancial assets -1.0 -0.9 -2.0 -2.4 -2.7 -30.9 -0.7 -121.6 -0.8 -0.7 -0.4 23

 24 Net lending (+) or net borrowing (-) -1416.9 -1350.0 -1131.2 -660.1 -614.6 -525.7 -454.7 -279.6 -695.6 -673.0 -579.8 24

 25 Net acquisition of financial assets 279.9 -148.4 118.5 220.0 157.9 237.8 -241.9 673.2 -172.0 691.9 146.9 25

 26 U.S. official reserve assets 1.6 16.2 4.3 -3.3 -3.8 -6.4 -16.7 -3.6 -1.2 -4.0 3.6 26

 27 Checkable deposits and currency 148.9 -257.6 6.7 69.6 60.8 109.9 -450.1 522.6 -224.0 591.2 -36.4 27

 28 Time and savings deposits 0.1 -0.3 0.2 -0.5 0.2 0.0 -0.6 1.1 0.9 -1.3 0.2 28

 29 Debt securities -46.9 -118.2 -31.3 -0.1 -0.0 -0.0 0.0 -0.1 -0.1 0.0 0.0 29

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

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

 32 Loans 129.3 139.0 131.6 124.4 115.0 106.0 116.7 114.4 83.9 108.9 90.4 32

 33 Other loans and advances 3.6 4.8 2.4 7.2 2.5 3.3 2.0 11.6 -8.2 7.6 -2.7 33

 34 Mortgages -5.4 3.3 1.6 4.0 1.7 -0.7 3.5 -0.5 -4.0 -1.9 3.6 34

 35 Consumer credit (3) 131.1 131.0 127.5 113.3 110.7 103.4 111.2 103.2 96.1 103.2 89.5 35

 36 Corporate equities (4) 24.1 40.3 -13.2 -4.8 -1.6 -0.0 -0.4 0.6 -0.2 -0.0 0.0 36

 37 Trade receivables -0.7 4.8 2.6 3.3 -5.2 -0.3 9.8 -2.1 -5.1 -3.6 14.9 37

 38 Taxes receivable 27.1 25.6 22.0 27.2 -19.9 14.2 79.8 22.9 -37.2 -8.8 59.9 38

 39 Miscellaneous assets -3.6 1.8 -4.4 4.1 12.5 14.4 19.7 17.4 11.0 9.6 14.3 39

 40 Net increase in liabilities 1696.7 1201.7 1249.7 880.0 772.5 763.5 212.9 952.8 523.6 1364.8 726.8 40

 41 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Treasury currency -0.3 0.0 0.0 -0.4 -0.3 -0.0 0.0 0.0 0.0 -0.0 0.0 43

 44 Debt securities 1645.9 1138.7 1180.6 857.3 735.9 724.6 -156.3 350.0 22.2 2682.3 700.3 44

 45 Treasury securities (5) 1645.3 1137.6 1181.0 857.7 736.0 724.4 -155.3 347.9 24.5 2680.5 700.8 45

 46 Marketable 1590.0 1083.4 1121.9 806.2 646.7 688.1 146.9 879.7 495.6 1230.4 580.0 46

 47 Nonmarketable 55.3 54.2 59.1 51.4 89.4 36.2 -302.2 -531.8 -471.2 1450.2 120.8 47

 48 Budget agency securities 0.7 1.1 -0.4 -0.4 -0.1 0.2 -1.0 2.1 -2.2 1.8 -0.5 48

 49 Loans (multifamily residential mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 Trade payables 5.2 8.8 13.4 18.8 -0.1 12.1 -16.0 25.9 26.7 11.9 9.5 50

 51 Insurance reserves 0.9 1.3 0.3 0.2 0.8 -0.1 -2.1 0.9 -0.6 1.3 -0.4 51

 52 Miscellaneous liabilities 45.0 53.0 55.4 4.1 36.2 26.9 387.2 576.0 475.2 -1330.7 17.3 52

 53 Claims of pension fund on sponsor 20.2 20.8 50.4 -9.3 22.8 16.0 402.2 567.0 470.5 -1375.8 22.9 53

 54 Other 24.9 32.1 5.0 13.4 13.4 10.9 -14.9 8.9 4.7 45.1 -5.6 54

 55 Discrepancy -47.1 -12.3 -55.0 -36.0 -64.8 -74.4 -163.4 -216.8 40.0 42.8 -72.8 55

 Memo:

 56 Change in cash balance (6) 148.9 -258.0 7.5 69.6 62.1 109.9 -492.4 622.8 -220.8 530.1 -76.7 56

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

(2) Table F.5, 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) Includes marketable and nonmarketable Treasury securities held by the public and Treasury securities held by federal government employee retirement funds.

(6) Time and savings deposits (line 28) plus checkable deposits and currency at the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
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20 Z.1, June 9, 2016

F.107 State and Local Governments (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 1998.5 2030.5 2057.2 2136.5 2225.0 2324.7 2282.0 2295.8 2320.3 2400.8 2342.5 1

 2 Personal current taxes 297.6 324.1 346.7 372.2 383.3 409.5 399.1 411.4 410.2 417.2 419.0 2

 3 Taxes on production and imports 960.4 994.0 1016.9 1052.2 1075.9 1093.3 1086.3 1088.9 1098.1 1100.2 1104.1 3

 4 Taxes on corporate income 47.7 50.2 52.5 55.5 58.3 59.4 61.1 61.2 58.8 56.4 58.5 4

 5 Contributions for govt. social insurance 18.1 18.2 18.0 18.6 18.9 18.8 18.8 18.8 18.8 18.9 19.0 5

 6 Income receipts on assets 82.6 79.2 75.4 74.3 75.7 78.0 77.1 77.7 78.4 78.8 79.7 6

 7 Current transfer receipts 612.0 582.1 558.0 571.2 621.5 673.8 648.2 646.0 664.1 737.0 669.6 7

 8 Current surplus of government enterprises -19.8 -17.4 -10.4 -7.5 -8.6 -8.1 -8.5 -8.1 -8.0 -7.7 -7.4 8

 9 Current expenditures, NIPA basis 2235.8 2246.4 2277.9 2323.6 2392.7 2460.1 2432.4 2450.3 2475.0 2482.9 2488.5 9

 10 Consumption expenditures 1518.3 1524.8 1536.3 1560.7 1601.0 1611.4 1599.5 1608.4 1618.9 1618.6 1618.6 10

 11 Govt. social benefit payments to persons 523.8 530.4 540.0 562.3 609.9 659.9 647.7 653.7 665.8 672.3 676.9 11

 12 Other current transfer payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Interest payments 192.1 190.7 201.2 200.1 181.4 188.4 184.7 187.7 189.7 191.5 192.6 13

 14 Subsidies 1.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 14

 15 Net saving, NIPA basis -237.3 -215.9 -220.8 -187.1 -167.7 -135.4 -150.4 -154.5 -154.6 -82.1 -146.0 15

 16 + Consumption of fixed capital 212.7 222.2 231.9 238.5 246.1 249.5 248.8 249.0 249.9 250.2 249.7 16

 17 - Net capital transfers paid (2) -76.7 -73.8 -74.2 -71.4 -71.0 -70.7 -69.0 -68.7 -72.4 -73.0 -72.6 17

 18 = Gross saving less net capital transfers paid 52.2 80.1 85.3 122.8 149.4 184.8 167.3 163.2 167.6 241.1 176.4 18

 19 Gross investment 85.2 18.7 58.8 75.8 165.9 150.4 201.0 88.0 232.3 80.4 278.6 19

 20 Fixed investment 351.9 340.5 329.7 322.9 331.3 347.4 331.8 350.0 357.8 350.0 359.0 20

 21 Nonproduced nonfinancial assets 10.6 9.2 9.1 9.6 9.9 9.8 9.8 9.8 9.7 9.8 9.8 21

 22 Net lending (+) or net borrowing (-) -277.2 -331.0 -280.1 -256.7 -175.3 -206.8 -140.6 -271.8 -135.2 -279.5 -90.2 22

 23 Net acquisition of financial assets 80.0 -29.0 64.9 -13.2 86.9 168.4 204.4 68.7 278.4 122.0 273.2 23

 24 Checkable deposits and currency 5.7 16.8 -8.8 7.1 15.8 -9.2 -24.3 17.6 -0.5 -29.5 22.1 24

 25 Time and savings deposits -6.0 15.8 21.7 18.2 7.4 10.1 30.6 -0.1 -5.7 15.5 5.0 25

 26 Money market fund shares 14.6 2.1 4.3 1.3 6.8 18.3 16.4 14.3 22.3 20.2 21.4 26

 27 Security repurchase agreements -0.8 -4.7 3.8 1.5 5.9 15.1 13.6 11.9 18.4 16.6 17.1 27

 28 Debt securities 57.1 -62.3 17.0 -57.8 19.7 74.4 104.8 -19.9 164.1 48.7 141.0 28

 29 Open market paper 13.4 -12.1 -7.8 -9.4 -7.1 -0.7 -3.6 -4.9 13.5 -7.9 -4.7 29

 30 Treasury securities 8.9 -34.4 42.8 -17.8 36.5 64.1 83.2 -30.5 107.8 95.7 118.1 30

 31 Agency- and GSE-backed securities 25.1 -13.9 -20.4 -29.6 -14.7 -6.3 9.6 2.4 21.0 -58.3 4.3 31

 32 Municipal securities 1.4 0.2 0.2 -0.1 0.4 1.3 1.2 1.0 1.6 1.4 1.7 32

 33 Corporate and foreign bonds 8.2 -2.2 2.1 -1.0 4.6 16.1 14.4 12.1 20.1 17.8 21.6 33

 34 Loans (mortgages) 14.1 -0.1 4.6 -0.1 6.4 20.6 19.1 15.6 25.3 22.6 27.1 34

 35 Corporate equities 0.2 -3.4 1.1 -0.5 2.5 8.6 7.7 6.5 10.7 9.5 11.5 35

 36 Mutual fund shares 3.0 -0.2 0.6 -0.3 1.3 4.4 4.0 3.3 5.5 4.9 5.9 36

 37 Trade receivables 13.1 5.6 5.3 9.5 10.0 1.7 0.4 10.0 -3.7 0.0 -2.1 37

 38 Taxes receivable 1.0 2.4 9.5 4.1 3.7 8.6 18.0 -3.3 11.4 8.2 9.2 38

 39 Miscellaneous assets -22.0 -1.1 5.7 3.9 7.6 15.8 14.2 12.9 30.7 5.3 15.0 39

 40 Net increase in liabilities 357.1 302.0 345.0 243.5 262.2 375.2 345.0 340.5 413.6 401.5 363.4 40

 41 Debt securities (municipal securities) 68.7 -53.6 -5.7 -39.4 -14.0 55.7 126.5 29.1 51.8 15.5 65.4 41

 42 Short-term (3) -0.7 -10.6 3.8 -10.9 -6.7 -5.8 0.6 12.6 -33.3 -3.2 0.8 42

 43 Long-term 69.3 -42.9 -9.4 -28.6 -7.4 61.6 125.9 16.5 85.2 18.7 64.6 43

 44 Loans (U.S. government loans) 0.9 0.9 0.4 0.5 0.4 0.3 0.4 0.1 -0.3 0.8 0.8 44

 45 Trade payables 38.5 38.4 38.1 38.0 38.8 39.0 38.1 39.1 39.5 39.1 39.3 45

 46 Claims of pension fund on sponsor (4) 249.1 316.3 312.2 244.4 237.1 280.2 180.0 272.2 322.5 346.1 257.9 46

 47 Discrepancy -33.1 61.4 26.5 47.0 -16.5 34.4 -33.7 75.3 -64.6 160.7 -102.3 47

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

(2) Table F.5, line 62.

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid 375.1 319.6 297.8 179.0 265.3 251.7 222.6 273.0 258.3 252.8 238.6 1

 2 Gross investment 152.2 244.4 278.6 403.3 253.2 349.2 440.1 410.0 374.8 171.7 453.7 2

 3 Capital expenditures 166.8 173.9 197.4 221.1 230.4 238.0 244.1 243.7 223.1 241.3 240.1 3

 4 Fixed residential investment 4.0 6.5 5.3 15.0 7.8 -0.3 10.9 8.6 -19.1 -1.4 -1.5 4

 5 Fixed nonresidential investment 162.8 167.5 192.1 206.1 222.6 238.3 233.2 235.1 242.2 242.7 241.6 5

 6 Net lending (+) or net borrowing (-) -14.6 70.4 81.3 182.2 22.8 111.1 196.0 166.3 151.7 -69.6 213.5 6

 7 Net acqisition of financial assets 111.6 1984.4 1563.7 3015.8 2682.4 1237.6 2399.5 1057.0 882.8 610.9 3602.7 7

 8 U.S. official reserve assets 0.3 -0.3 0.2 0.2 0.2 0.1 0.1 0.1 0.2 0.1 -0.4 8

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

 10 Treasury currency 0.9 0.7 0.6 0.7 0.8 1.3 1.5 1.3 1.3 1.0 0.6 10

 11 Foreign deposits 8.9 -64.2 0.3 -9.8 -9.8 -13.4 -16.1 8.0 -39.7 -6.0 26.0 11

 12 Net interbank assets -106.9 603.0 -64.1 760.1 131.5 -401.8 244.1 -771.9 -175.8 -903.5 612.1 12

 13 Checkable deposits and currency -32.5 37.0 9.2 -3.6 -19.9 -14.1 -22.0 -99.1 120.8 -56.1 26.4 13

 14 Time and savings deposits -110.9 -47.9 5.1 81.6 13.8 -78.5 110.9 25.5 -233.1 -217.2 331.7 14

 15 Money market fund shares -181.6 -65.1 -86.7 -57.9 11.1 41.2 145.5 -72.7 99.0 -6.8 125.3 15

 16 Federal funds and security repos 283.7 159.0 217.6 -452.3 11.4 64.2 42.5 40.5 409.6 -235.8 -504.3 16

 17 Debt securities 857.5 1032.3 979.7 1284.7 862.2 552.7 203.0 157.2 -133.3 1983.8 1335.2 17

 18 Open market paper -93.6 -75.0 0.0 20.7 -25.2 18.3 -92.1 117.3 57.3 -9.1 256.4 18

 19 Treasury securities 573.5 1014.5 324.1 482.7 618.1 385.0 -56.4 -237.4 -60.6 1894.2 594.5 19

 20 Agency- and GSE-backed securities 47.7 71.2 171.5 389.0 67.9 12.5 32.0 -102.0 -45.3 165.5 92.6 20

 21 Municipal securities 30.7 -9.4 123.1 -17.6 23.3 64.0 112.1 49.2 17.2 77.6 82.9 21

 22 Corporate and foreign bonds 299.2 31.0 361.0 410.0 178.0 72.9 207.4 330.2 -101.8 -144.4 308.8 22

 23 Loans -657.0 -85.5 259.1 520.6 777.6 728.5 648.7 1072.4 349.2 843.9 695.4 23

 24 Depository institution loans n.e.c. -86.0 177.6 176.9 196.5 320.0 281.2 437.6 282.0 159.9 245.1 446.4 24

 25 Other loans and advances -134.5 -70.2 103.6 157.4 150.1 -59.0 -51.5 124.0 -352.3 43.8 -176.7 25

 26 Mortgages -291.0 -174.9 -66.1 93.3 193.1 373.9 181.7 495.6 377.5 441.0 305.2 26

 27 Consumer credit -145.5 -17.9 44.7 73.4 114.4 132.4 80.9 170.7 164.1 114.0 120.5 27

 28 Corporate equities 75.2 -113.1 -26.0 -19.0 75.1 62.1 84.5 220.2 51.7 -108.1 -517.9 28

 29 Mutual fund shares 156.2 14.1 53.9 112.6 78.8 -41.6 -20.2 -22.8 -123.3 -0.2 -25.0 29

 30 Trade receivables -8.6 -0.8 -1.6 -2.2 1.2 8.7 22.1 15.4 3.6 -6.1 22.6 30

 31 Life insurance reserves 8.2 7.7 14.7 10.8 10.9 10.6 9.4 12.6 9.6 10.6 9.5 31

 32 U.S. direct investment abroad -2.3 15.2 20.5 23.6 26.0 20.0 8.1 51.9 12.3 7.6 26.9 32

 33 Miscellaneous assets -179.7 492.5 181.5 765.6 711.5 297.5 937.7 418.3 530.7 -696.5 1438.6 33

 34 Net increase in liabilities 126.2 1914.0 1482.4 2833.6 2659.6 1126.4 2203.5 890.7 731.0 680.5 3389.2 34

 35 Net interbank liabilities -142.8 820.5 -194.5 1129.1 115.3 -501.4 521.3 -1061.8 -349.9 -1115.2 672.6 35

 36 Checkable deposits and currency 266.3 234.5 267.7 332.6 351.1 292.2 -140.3 863.0 -268.5 714.6 458.3 36

 37 Time and savings deposits 115.6 404.1 520.4 409.1 513.2 406.2 836.9 -31.5 456.2 363.2 757.9 37

 38 Money market fund shares -512.4 -112.6 2.2 24.6 6.8 30.1 -84.5 43.5 43.4 118.0 257.0 38

 39 Federal funds and security repos 213.4 184.3 208.6 -382.6 9.0 -22.9 -30.5 -163.4 204.2 -101.8 -729.3 39

 40 Debt securities -679.8 -354.6 -316.3 65.0 176.5 163.2 -228.4 311.9 262.8 306.6 144.6 40

 41 Open market paper -102.2 -68.2 -58.8 -48.9 -37.3 -42.7 -123.7 163.3 -115.4 -95.1 123.4 41

 42 Agency- and GSE-backed securities -39.5 -22.1 -23.8 238.3 150.3 220.4 -158.4 215.2 327.6 497.4 49.8 42

 43 Corporate and foreign bonds -538.0 -264.3 -233.7 -124.4 63.5 -14.5 53.7 -66.7 50.7 -95.6 -28.5 43

 44 Loans -176.6 17.9 -80.1 189.9 149.2 2.0 35.8 59.3 -6.2 -80.8 204.3 44

 45 Depository institution loans n.e.c. -56.2 63.6 -130.4 33.2 13.3 -18.7 35.6 36.1 -60.1 -86.5 24.9 45

 46 Other loans and advances -121.2 -59.2 45.4 136.8 126.6 17.2 -16.1 9.9 40.0 35.2 187.4 46

 47 Mortgages 0.8 13.5 4.8 19.9 9.3 3.5 16.4 13.3 13.8 -29.5 -8.0 47

 48 Corporate equities 189.5 161.6 155.5 158.3 218.3 207.2 297.8 160.6 97.2 273.2 127.4 48

 49 Mutual fund shares 395.9 200.7 386.2 346.0 309.4 95.3 239.0 233.7 -28.8 -62.8 -33.9 49

 50 Trade payables -52.0 -3.8 -0.0 0.3 3.4 8.4 5.0 17.7 2.4 8.4 -4.1 50

 51 Life insurance reserves 15.9 78.2 -15.1 19.9 47.1 44.6 60.4 32.2 57.4 28.5 62.2 51

 52 Pension entitlements 669.5 512.1 543.2 471.7 429.7 398.1 360.6 419.6 344.3 468.0 436.8 52

 53 Taxes payable 13.0 10.7 6.9 17.7 16.6 -13.6 35.5 -53.7 -24.2 -11.8 55.0 53

 54 Equity in noncorporate business 0.9 -2.9 6.7 -5.6 2.0 3.0 -1.1 -2.7 25.3 -9.4 -4.4 54

 55 Foreign direct investment in U.S. 48.5 43.4 5.1 31.1 13.6 35.8 27.3 39.3 9.2 67.3 33.3 55

 56 Miscellaneous liabilities -238.6 -280.2 -14.1 26.4 298.5 -21.9 268.7 22.9 -93.6 -285.6 951.5 56

 57 Discrepancy 223.0 75.2 19.2 -224.4 12.1 -97.5 -217.6 -137.0 -116.5 81.0 -215.0 57

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving -8.5 -0.2 -17.5 -0.9 5.7 5.4 8.3 11.3 1.1 1.1 1.0 1

 2 Fixed nonresidential investment 0.7 0.6 0.8 0.6 0.7 ND 0.7 0.7 0.7 0.7 0.7 2

 3 Net acquisition of financial assets 185.5 493.6 9.7 1118.8 481.6 -13.3 -10.5 -23.1 0.1 -19.6 39.7 3

 4 U.S. official reserve assets 0.3 -0.3 0.2 0.2 0.2 0.1 0.1 0.1 0.2 0.1 -0.4 4

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

 6 Treasury currency 0.9 0.7 0.6 0.7 0.8 1.3 1.5 1.3 1.3 1.0 0.6 6

 7 Federal Reserve float (2) 0.7 0.8 0.1 -0.5 0.4 0.5 -0.8 1.3 1.3 0.2 -4.6 7

 8 Interbank loans (2) -96.4 -0.0 -0.1 0.0 0.1 -0.0 -0.4 0.5 0.3 -0.5 -0.2 8

 9 Discount window (3) -96.4 -0.0 -0.1 0.0 0.1 -0.0 -0.4 0.5 0.3 -0.5 -0.2 9

 10 AMLF (4) 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Debt securities 316.3 444.0 64.5 1086.6 480.7 5.1 21.6 -11.5 17.2 -6.9 62.4 12

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

 14 Treasury securities 244.9 642.0 2.7 542.6 252.6 0.2 48.4 -8.1 -16.3 -23.2 54.7 14

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

 16 Other Treasury securities 244.9 642.0 21.1 542.6 252.6 0.2 48.4 -8.1 -16.3 -23.2 54.7 16

 17 Agency- and GSE-backed securities 71.4 -197.9 61.8 543.9 228.1 4.9 -26.8 -3.4 33.5 16.3 7.8 17

 18 Mortgage-backed securities 83.8 -154.5 89.0 563.5 246.7 10.6 -19.6 0.5 36.7 24.9 22.5 18

 19 Other agency- and GSE-baked securities -12.4 -43.5 -27.2 -19.6 -18.5 -5.7 -7.2 -3.9 -3.2 -8.6 -14.7 19

 20 Loans (depository institution loans n.e.c.) -44.8 -67.6 -29.9 -0.5 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Households (TALF) (5) -22.8 -15.7 -8.5 -0.5 -0.1 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 0.0 22

 23 Funding corporations (7) -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Corporate equities (8) 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous assets 7.3 142.4 -25.6 32.3 -0.5 -20.2 -32.4 -14.8 -20.2 -13.4 -18.2 26

 27 Nonofficial foreign currencies (9) -10.2 99.7 -90.9 -8.6 1.3 -0.5 -2.9 -0.7 0.2 1.3 -3.4 27

 28 Other 17.5 42.7 65.3 40.9 -1.8 -19.7 -29.5 -14.1 -20.4 -14.7 -14.8 28

 29 Net increase in liabilities 184.6 493.2 9.3 1118.7 480.6 5.3 -11.5 -24.3 -0.5 57.5 39.7 29

 30 Depository institution reserves -8.9 594.2 -71.2 758.0 128.9 -400.8 237.1 -779.3 -179.2 -882.0 592.8 30

 31 Vault cash of depository institutions -2.2 8.1 7.1 2.6 2.0 -1.4 8.1 5.6 1.8 -21.2 24.1 31

 32 Checkable deposits and currency 185.0 -122.1 62.1 139.5 152.2 204.4 -440.3 711.6 -82.0 628.3 3.1 32

 33 Due to federal government 149.0 -255.0 7.0 69.8 61.0 110.1 -491.2 621.8 -222.4 532.0 -76.0 33

 34 Treasury cash holdings -0.1 -0.0 0.0 0.1 -0.0 0.1 -0.0 -0.4 0.4 0.3 -0.2 34

 35 Treasury general deposit account -45.9 -55.0 7.0 69.7 61.1 110.0 -491.2 622.2 -222.8 531.7 -75.8 35

 36 Treasury temporary supplementary financing account 195.0 -200.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Due to government-sponsored enterprises -21.6 51.1 -37.4 -1.3 -5.8 10.9 3.0 29.4 15.5 -4.2 40.8 37

 38 Due to rest of the world 0.9 -3.2 6.3 1.5 -2.7 -0.0 -0.1 0.1 3.9 -4.0 -0.1 38

 39 Currency outside banks 56.7 85.0 86.2 69.5 99.7 83.4 48.0 60.3 121.0 104.5 38.4 39

 40 Security repurchase agreements -18.0 40.2 7.3 208.7 193.9 202.6 108.1 85.2 331.7 285.3 -647.4 40

 41 Reverse repurchase agreement operations (10) 0.0 0.0 0.0 197.8 199.0 77.9 -72.9 56.4 228.0 99.9 -683.0 41

 42 Other -18.0 40.2 7.3 11.0 -5.0 124.7 180.9 28.8 103.6 185.4 35.6 42

 43 Miscellaneous liabilities 28.7 -27.2 4.0 9.8 3.5 0.6 75.5 -47.4 -72.7 47.0 67.1 43

 44 Federal Reserve Bank stock 0.9 0.4 0.5 0.1 1.1 0.9 1.0 1.2 0.6 0.7 2.5 44

 45 Other 27.8 -27.5 3.5 9.7 2.4 -0.3 74.5 -48.7 -73.3 46.4 64.6 45

 46 Discrepancy -10.0 -1.2 -18.8 -1.6 3.9 23.3 6.7 9.4 -0.2 77.5 0.3 46

(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) Includes loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, AIG, Maiden Lane III LLC, and the Commercial Paper Funding Facility LLC.

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

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

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

(10) 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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F.110 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (2) 144.6 75.8 6.6 20.9 -27.5 -48.6 -34.2 -65.2 -25.1 -70.0 13.2 1

 2 Fixed nonresidential investment 35.7 25.1 27.6 24.7 26.5 35.1 31.9 33.0 37.2 38.2 39.7 2

 3 Net lending (+) or net borrowing (-) -23.8 -14.3 -70.2 45.6 -123.9 36.9 152.7 82.3 71.6 -159.0 127.0 3

 4 Net acquisition of financial assets -193.2 840.5 500.1 993.4 972.1 518.7 1427.3 156.0 179.2 312.3 1765.7 4

 5 Vault cash -2.2 8.1 7.1 2.6 2.0 -1.4 8.1 5.6 1.8 -21.2 24.1 5

 6 Reserves at Federal Reserve -8.9 594.2 -71.2 758.0 128.9 -400.8 237.1 -779.3 -179.2 -882.0 592.8 6

 7 Federal funds and security repos 20.9 22.5 112.0 -98.0 10.6 25.2 46.9 18.2 -34.6 70.2 -67.6 7

 8 Debt securities 146.1 138.0 190.4 46.3 216.7 203.3 246.9 137.8 54.2 374.3 151.0 8

 9 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 103.0 -46.7 86.6 -35.1 195.4 36.8 -1.5 67.1 -32.8 114.3 30.6 10

 11 Agency- and GSE-backed securities 138.5 133.6 49.7 42.4 26.2 155.2 198.2 121.9 38.7 262.1 -2.0 11

 12 Municipal securities 29.3 46.8 68.0 55.1 31.0 47.4 68.2 46.3 34.6 40.3 49.6 12

 13 Corporate and foreign bonds -124.7 4.3 -13.8 -16.2 -35.9 -36.0 -18.0 -97.4 13.8 -42.4 72.8 13

 14 Loans -279.4 142.9 277.2 260.9 578.8 676.0 765.2 657.5 553.0 728.4 903.0 14

 15 Depository institution loans n.e.c. -41.2 245.1 206.8 197.0 320.1 281.2 437.6 282.0 159.9 245.1 446.4 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 0.0 16

 17 Mortgages -157.2 -105.8 21.7 -11.0 149.9 255.7 246.3 240.5 229.9 306.2 318.5 17

 18 Consumer credit -81.0 3.6 48.7 74.9 108.8 139.2 81.3 135.0 163.3 177.1 138.1 18

 19 Corporate equities -1.7 0.9 -10.5 0.8 0.7 2.0 -1.7 2.2 2.2 5.1 -29.5 19

 20 Mutual fund shares -5.8 -0.4 -0.9 1.1 -0.9 -1.0 -3.0 4.4 -2.8 -2.6 4.1 20

 21 Life insurance reserves 4.5 5.2 7.4 5.7 5.9 6.5 5.2 8.6 5.6 6.6 5.5 21

 22 U.S. direct investment abroad 2.7 -6.2 -1.6 0.3 4.7 1.8 -7.1 2.6 -5.1 16.7 8.8 22

 23 Miscellaneous assets -69.2 -64.8 -9.8 15.8 24.6 7.2 129.6 98.4 -215.9 16.7 173.4 23

 24 Net increase in liabilities -169.3 854.8 570.2 947.8 1096.0 481.8 1274.5 73.7 107.6 471.3 1638.7 24

 25 Net interbank liabilities -131.7 218.2 -130.3 368.5 -15.7 -99.1 276.1 -288.1 -172.5 -212.0 55.7 25

 26 Checkable deposits 81.3 356.7 205.6 193.1 198.8 87.8 300.0 151.4 -186.6 86.3 455.2 26

 27 Small time and savings deposits 298.3 577.4 539.6 307.0 365.0 513.7 992.9 59.6 406.2 596.1 604.5 27

 28 Large time deposits -182.7 -173.3 -19.2 102.1 148.2 -107.5 -156.0 -91.1 50.0 -232.9 153.4 28

 29 Federal funds and security repos 6.7 -27.1 -32.0 -92.8 25.4 -4.0 -77.4 23.1 -111.5 149.8 -66.7 29

 30 Debt securities -69.3 10.0 -115.4 -102.7 -17.2 -9.3 -79.4 4.1 10.4 27.9 36.9 30

 31 Open market paper -20.1 7.6 -33.1 -27.8 -5.2 -0.9 -21.9 4.3 4.0 9.9 12.0 31

 32 Corporate bonds -49.2 2.4 -82.3 -74.9 -12.0 -8.4 -57.5 -0.3 6.4 17.9 25.0 32

 33 Loans (other loans and advances) -149.4 -62.7 5.5 75.3 66.6 40.6 -36.9 99.8 -8.3 107.9 34.1 33

 34 Corporate equity issues 11.9 6.4 1.6 2.2 2.7 9.5 24.0 2.2 2.2 9.5 3.4 34

 35 Taxes payable (net) 6.6 10.6 7.0 0.1 15.2 -4.4 19.1 -27.6 8.6 -17.7 41.4 35

 36 Foreign direct investment in U.S. 12.4 26.0 -1.9 9.5 0.7 4.4 -6.2 18.0 1.5 4.3 10.9 36

 37 Miscellaneous liabilities -53.5 -87.4 109.8 85.4 306.3 50.1 18.4 122.4 107.5 -47.8 309.8 37

 38 Investment by holding companies 33.4 76.1 101.2 59.2 195.9 38.1 -81.7 115.4 76.7 42.0 147.0 38

 39 Investment by funding corporations -31.5 -33.7 -11.8 -2.5 -20.3 2.2 -27.9 51.6 -3.1 -11.9 86.9 39

 40 Other -55.4 -129.8 20.4 28.7 130.6 9.9 128.1 -44.6 33.8 -77.9 75.9 40

 41 Discrepancy 132.8 64.9 49.2 -49.4 69.9 -120.6 -218.9 -180.5 -133.8 50.8 -153.5 41

 Memo:

 42 Consumer leases not included above (3) -0.8 -0.1 0.4 1.5 0.7 -0.6 0.1 -0.1 -1.4 -1.2 0.4 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.5, 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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F.111 U.S.-Chartered Depository Institutions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (1) 133.8 62.7 -8.9 5.0 -44.5 -65.7 -51.1 -82.4 -42.2 -87.3 -4.2 1

 2 Fixed nonresidential investment 31.0 20.1 21.8 18.7 19.6 28.0 24.9 25.9 30.0 31.1 32.7 2

 3 Net acquisition of financial assets -304.7 322.7 472.6 635.0 845.5 579.2 1392.1 -1.4 182.0 744.0 1280.7 3

 4 Vault cash -2.2 8.1 7.1 2.5 2.0 -1.4 8.2 5.6 1.8 -21.2 24.1 4

 5 Reserves at Federal Reserve -85.6 222.9 -0.2 454.4 190.7 -207.9 247.4 -798.4 -108.1 -172.5 304.7 5

 6 Federal funds and security repos 0.7 -25.0 60.1 -87.2 -30.4 24.8 120.2 -24.8 13.6 -10.0 -16.8 6

 7 Debt securities 135.2 108.3 163.6 90.7 241.5 214.4 284.9 202.2 34.2 336.2 86.5 7

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

 9 Treasury securities 93.0 -43.7 69.3 -26.1 203.3 14.8 -4.1 58.0 -22.3 27.5 -3.7 9

 10 Agency- and GSE-backed securities 110.1 106.9 35.5 47.7 43.0 164.4 218.8 121.9 64.1 253.0 21.7 10

 11 Residential mortgage pass-through securities -2.2 63.8 18.6 40.8 26.2 149.9 178.2 137.7 76.6 207.3 1.8 11

 12 Commercial mortgage pass-through securities -0.2 4.8 8.6 8.5 12.2 19.1 14.0 13.9 17.7 30.6 19.5 12

 13 Residential CMOs and other structured MBS 129.4 80.3 -10.8 -23.6 13.0 -0.1 19.2 -27.3 -4.9 12.5 -7.6 13

 14 Commercial CMOs and other structured MBS -0.4 9.8 21.0 23.9 14.6 15.3 8.8 8.4 14.9 28.9 34.8 14

 15 Other -16.6 -51.8 -2.0 -1.9 -23.0 -19.7 -1.4 -10.9 -40.1 -26.4 -26.8 15

 16 Municipal securities 30.3 42.6 67.8 53.8 32.7 47.4 67.4 46.1 35.1 40.9 48.4 16

 17 Corporate and foreign bonds -98.2 2.5 -9.0 15.2 -37.4 -12.2 2.8 -23.8 -42.7 14.9 20.1 17

 18 Private residential mortgage pass-through securities -9.7 -3.1 15.3 9.9 -6.0 -8.0 -6.1 -6.5 -9.9 -9.6 -7.5 18

 19 Private commercial mortgage pass-through securities -6.4 -2.5 0.4 -1.2 -2.5 -2.5 -1.7 -5.6 -2.0 -0.8 -2.8 19

 20 Private residential CMOs and other structured MBS -70.6 -22.0 -20.8 -14.6 -5.6 -12.0 -11.0 -7.4 -11.2 -18.4 -9.7 20

 21 Private commercial CMOs and other structured MBS -1.4 2.7 4.1 4.6 5.4 10.6 13.3 8.4 7.5 13.4 -3.9 21

 22 Other -10.2 27.3 -8.0 16.5 -28.8 -0.3 8.2 -12.6 -27.1 30.2 44.0 22

 23 Loans -252.7 77.5 258.5 170.7 439.2 527.4 604.0 505.1 424.7 575.8 745.4 23

 24 Depository institution loans n.e.c. -33.2 175.8 216.8 144.3 249.8 214.1 328.8 225.6 124.7 177.5 387.2 24

 25 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Mortgages -149.2 -105.3 13.7 -26.6 117.9 213.0 231.3 190.2 172.7 258.0 273.3 26

 27 Consumer credit -70.3 7.1 28.1 52.9 71.5 100.2 43.9 89.4 127.3 140.3 85.0 27

 28 Corporate equities -1.8 1.0 -10.5 0.8 0.7 2.0 -1.7 2.2 2.2 5.1 -29.5 28

 29 Mutual fund shares -5.8 -0.8 -1.1 1.6 -0.7 -0.9 -2.5 3.8 -3.3 -1.6 4.1 29

 30 Life insurance reserves 4.5 5.2 7.4 5.7 5.9 6.5 5.2 8.6 5.6 6.6 5.5 30

 31 U.S. direct investment abroad 2.7 -6.2 -1.6 0.3 4.7 1.8 -7.1 2.6 -5.1 16.7 8.8 31

 32 Miscellaneous assets -99.7 -68.5 -10.7 -4.6 -8.1 12.6 133.4 91.6 -183.6 8.8 147.9 32

 33 Net increase in liabilities -250.7 369.8 536.7 632.4 981.2 530.2 1340.7 -138.0 87.7 830.5 1352.5 33

 34 Net interbank liabilities -201.3 -263.4 -114.2 191.0 54.5 -53.0 351.8 -498.1 -265.3 199.6 82.5 34

 35 Federal Reserve float 0.7 0.8 0.1 -0.5 0.4 0.5 -0.8 1.3 1.3 0.2 -4.6 35

 36 Borrowing from Federal Reserve banks -96.4 -0.0 -0.1 0.0 0.1 -0.0 -0.4 0.5 0.3 -0.5 -0.2 36

 37 To domestic banking -16.8 40.8 -29.5 38.5 -45.3 -16.9 222.3 -125.3 -101.5 -63.2 210.6 37

 38 To foreign banks -88.8 -304.9 -84.8 153.0 99.3 -36.6 130.7 -374.6 -165.4 263.1 -123.4 38

 39 Checkable deposits 69.6 319.4 176.2 148.2 136.2 50.3 220.1 104.1 -154.6 31.7 348.1 39

 40 Federal government -0.1 -2.7 0.3 0.3 0.9 -0.2 -0.6 -0.1 0.8 -0.6 -0.9 40

 41 Private domestic 73.5 296.5 180.1 148.6 130.0 65.0 223.3 118.0 -109.9 28.6 323.5 41

 42 Rest of the world -3.8 25.6 -4.2 -0.7 5.3 -14.5 -2.5 -13.8 -45.5 3.7 25.4 42

 43 Small time and savings deposits 271.7 537.1 491.5 256.7 343.8 462.2 834.5 146.0 323.8 544.4 584.9 43

 44 Large time deposits -133.8 -13.2 -9.1 23.9 102.5 21.9 32.2 -104.3 173.7 -14.2 104.7 44

 45 Federal funds and security repos -48.1 -81.5 -52.6 -80.5 -33.2 -39.4 -30.1 -9.8 -81.2 -36.4 -12.4 45

 46 Debt securities -69.3 10.0 -115.4 -102.7 -17.2 -9.3 -79.4 4.1 10.4 27.9 36.9 46

 47 Open market paper -20.1 7.6 -33.1 -27.8 -5.2 -0.9 -21.9 4.3 4.0 9.9 12.0 47

 48 Corporate bonds -49.2 2.4 -82.3 -74.9 -12.0 -8.4 -57.5 -0.3 6.4 17.9 25.0 48

 49 Loans (other loans and advances) -149.0 -60.7 4.6 73.3 58.2 31.4 -34.9 79.7 -28.1 108.8 41.0 49

 50 Corporate equity issues 11.9 6.4 1.6 2.2 2.7 9.5 24.0 2.2 2.2 9.5 3.4 50

 51 Taxes payable (net) 6.6 10.6 7.0 0.1 15.2 -4.4 19.1 -27.6 8.6 -17.7 41.4 51

 52 Miscellaneous liabilities -8.9 -94.9 147.1 120.1 318.5 61.0 3.4 165.8 98.1 -23.1 122.0 52

 53 Investment by holding companies 33.4 76.1 101.2 59.2 195.9 38.1 -81.7 115.4 76.7 42.0 147.0 53

 54 Other -42.3 -171.0 45.9 60.9 122.5 22.9 85.1 50.4 21.4 -65.1 -25.1 54

 55 Discrepancy 156.8 89.8 33.5 -16.3 71.6 -142.7 -127.4 -244.9 -166.5 -31.9 34.9 55

 Memo:

 56 Consumer leases not included above (2) -0.8 -0.1 0.4 1.5 0.7 -0.6 0.1 -0.1 -1.4 -1.2 0.4 56

(1) Net capital transfers paid from table F.5, 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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F.112 Foreign Banking Offices in U.S. (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 2.3 2.9 3.3 4.1 4.4 4.5 4.4 4.4 4.5 4.6 4.6 1

 2 Fixed nonresidential investment 2.0 2.4 3.0 3.3 3.8 3.9 3.9 3.9 4.0 3.9 3.9 2

 3 Net acquisition of financial assets 50.3 468.1 -15.8 316.5 56.3 -142.0 -49.7 102.1 -58.6 -561.6 352.6 3

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

 5 Reserves at Federal Reserve 66.7 360.2 -72.2 309.3 -59.3 -198.4 -65.8 57.6 -62.2 -723.2 235.6 5

 6 Federal funds and security repos 20.3 31.7 58.2 -1.2 41.1 0.4 -73.4 43.0 -48.2 80.1 -50.8 6

 7 Debt securities -10.7 2.2 11.4 -50.4 -14.5 -9.0 -33.9 -50.0 37.9 10.0 85.1 7

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

 9 Treasury securities 3.5 -0.5 16.1 -9.6 -10.5 13.3 -3.2 6.2 -10.4 60.7 35.8 9

 10 Agency- and GSE-backed securities -4.8 4.0 1.5 -6.7 -4.9 2.6 -4.7 15.9 -9.3 8.6 0.4 10

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

 12 Corporate and foreign bonds -9.4 -1.4 -6.2 -34.1 0.9 -24.9 -25.9 -72.0 57.6 -59.2 49.0 12

 13 Loans -10.7 59.1 -12.9 45.7 74.7 78.1 105.7 75.2 49.6 81.9 59.8 13

 14 Depository institution loans n.e.c. -8.2 61.7 -11.0 46.3 67.4 64.4 106.3 61.0 26.9 63.1 41.0 14

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

 16 Mortgages -2.5 -2.6 -1.9 -0.6 7.3 13.8 -0.6 14.2 22.7 18.8 18.8 16

 17 Corporate equities 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Miscellaneous assets -15.3 15.0 -0.3 13.1 14.4 -13.0 17.8 -23.7 -35.6 -10.5 22.8 18

 19 Net increase in liabilities 32.4 469.0 -5.1 268.7 56.2 -123.1 -139.7 158.7 -24.0 -487.3 169.7 19

 20 Net interbank liabilities 30.7 504.6 -1.9 175.1 -70.3 -48.7 -123.3 250.7 109.5 -431.6 -57.2 20

 21 To foreign banks 27.0 518.8 -51.2 159.2 -68.4 -53.7 -141.8 255.0 91.9 -419.8 -74.3 21

 22 To domestic banks 3.7 -14.2 49.3 15.9 -1.9 5.0 18.5 -4.3 17.6 -11.8 17.1 22

 23 Checkable deposits 5.7 23.7 16.2 30.8 45.2 16.4 46.7 46.9 -33.4 5.3 72.4 23

 24 Small time and savings deposits 5.8 13.2 13.8 27.7 -5.9 13.0 167.5 -150.5 32.3 2.7 2.9 24

 25 Large time deposits -46.5 -163.1 -16.2 71.1 39.7 -134.4 -188.3 6.4 -129.7 -225.8 30.9 25

 26 Federal funds and security repos 54.8 54.4 20.6 -12.3 58.6 35.3 -47.4 32.9 -30.3 186.1 -54.3 26

 27 Debt securities (open market paper) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Foreign direct investment in U.S. 12.4 26.0 -1.9 9.5 0.7 4.4 -6.2 18.0 1.5 4.3 10.9 28

 29 Miscellaneous liabilities -30.5 10.1 -35.7 -33.2 -11.7 -9.1 11.3 -45.8 26.2 -28.3 164.0 29

 30 Investment by funding corporations -31.5 -33.7 -11.8 -2.5 -20.3 2.2 -27.9 51.6 -3.1 -11.9 86.9 30

 31 Other 1.1 43.8 -23.9 -30.7 8.6 -11.3 39.2 -97.4 29.3 -16.4 77.1 31

 32 Discrepancy -17.6 1.4 11.0 -47.0 0.4 19.4 -89.6 57.1 35.2 75.0 -182.2 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).

(2) Bankers’ acceptances.
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F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

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

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

 3 Net acquisition of financial assets -14.8 -4.1 0.0 8.8 7.3 -3.4 -24.5 20.5 -6.0 -3.7 19.5 3

 4 Debt securities -9.5 -3.5 -2.6 1.5 -1.2 0.8 -0.2 1.5 -0.0 1.9 -0.4 4

 5 Treasury securities 0.6 -0.0 -0.6 0.7 0.2 1.1 0.6 1.4 1.5 0.8 0.3 5

 6 Agency- and GSE-backed securities -7.7 -8.0 -2.2 -0.8 -0.1 0.1 -1.0 1.4 0.0 -0.0 -1.2 6

 7 Municipal securities -0.9 0.9 -0.8 0.9 -0.9 -0.6 0.2 -1.0 -1.1 -0.4 -0.6 7

 8 Corporate and foreign bonds -1.4 3.6 1.0 0.6 -0.4 0.2 0.1 -0.3 -0.5 1.6 1.1 8

 9 Loans -9.8 -1.4 2.5 -1.2 -4.3 -5.8 -16.1 -3.4 -2.6 -1.0 -1.9 9

 10 Depository institution loans n.e.c. -3.3 1.1 1.0 1.3 -2.3 -2.0 -5.7 -0.5 -1.6 -0.1 -1.9 10

 11 Home mortgages -2.5 -2.4 2.3 -1.1 -1.5 -1.5 -3.6 -0.8 -0.8 -0.9 -0.6 11

 12 Commercial mortgages -4.0 -0.1 -0.8 -1.4 -0.5 -2.2 -6.7 -2.1 -0.2 0.0 0.7 12

 13 Miscellaneous assets 4.5 0.8 0.2 8.6 12.8 1.5 -8.2 22.4 -3.4 -4.6 21.8 13

 14 Net increase in liabilities -14.8 -3.1 -0.1 8.5 7.1 -3.4 -21.2 22.2 -9.8 -4.7 22.7 14

 15 Net interbank liabilities 0.9 -1.2 -0.4 0.2 -0.6 0.2 -1.7 -1.9 3.2 1.4 -2.8 15

 16 Checkable deposits 0.5 2.8 2.5 6.3 5.2 1.6 -1.7 11.2 -1.6 -1.4 13.5 16

 17 Small time and savings deposits -5.2 -0.4 -0.1 2.5 2.0 -1.5 -7.2 4.9 -2.2 -1.3 5.2 17

 18 Large time deposits -5.2 -0.4 -0.1 2.5 2.0 -1.5 -7.2 4.9 -2.2 -1.3 5.2 18

 19 Miscellaneous liabilities -5.9 -3.9 -2.0 -3.0 -1.6 -2.3 -3.4 3.2 -7.0 -2.0 1.6 19

 20 Discrepancy -0.0 1.0 -0.1 -0.3 -0.2 0.1 3.3 1.8 -3.8 -0.9 3.3 20

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

F.114 Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 8.4 10.1 12.0 11.8 12.5 12.5 12.4 12.7 12.5 12.6 12.6 1

 2 Fixed nonresidential investment 2.5 2.5 2.8 2.6 3.0 3.1 3.0 3.1 3.1 3.1 3.0 2

 3 Net acquisition of financial assets 76.0 53.8 43.3 33.2 63.0 84.9 109.3 34.9 61.8 133.7 112.9 3

 4 Reserves at Federal Reserve 10.0 11.1 1.2 -5.7 -2.5 5.5 55.6 -38.4 -8.9 13.8 52.5 4

 5 Federal funds and security repos -0.1 15.9 -6.2 -9.6 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 31.1 31.0 17.9 4.6 -9.0 -2.8 -3.9 -15.8 -17.8 26.2 -20.2 6

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

 8 Treasury securities 5.9 -2.5 1.7 -0.2 2.5 7.6 5.3 1.4 -1.6 25.4 -1.7 8

 9 Agency- and GSE-backed securities 40.9 30.6 14.9 2.2 -11.7 -11.9 -14.9 -17.2 -16.1 0.6 -23.0 9

 10 Municipal securities 0.0 3.2 1.0 0.3 -0.8 0.6 0.7 1.2 0.6 -0.2 1.9 10

 11 Corporate and foreign bonds -15.7 -0.3 0.3 2.2 1.0 0.9 5.1 -1.2 -0.7 0.4 2.6 11

 12 Loans -6.2 7.6 29.1 45.6 69.2 76.3 71.6 80.5 81.3 71.6 99.6 12

 13 Depository institution loans n.e.c. 3.5 6.6 0.1 5.1 5.1 4.6 8.3 -4.1 9.9 4.5 20.1 13

 14 Home mortgages 0.9 4.5 8.3 18.6 26.9 32.7 25.9 39.0 35.4 30.4 26.4 14

 15 Consumer credit -10.7 -3.4 20.6 21.9 37.2 39.0 37.4 45.6 36.0 36.8 53.1 15

 16 Mutual fund shares 0.0 0.4 0.2 -0.5 -0.2 -0.1 -0.6 0.6 0.5 -1.0 0.1 16

 17 Miscellaneous assets 41.3 -12.2 1.0 -1.2 5.4 6.1 -13.4 8.0 6.7 23.1 -19.1 17

 18 Net increase in liabilities 63.8 19.0 38.8 38.2 51.5 78.0 94.8 30.8 53.7 132.9 93.8 18

 19 Net interbank liabilities 38.1 -21.9 -13.8 2.2 0.7 2.3 49.3 -38.8 -19.8 18.6 33.3 19

 20 Shares/deposits 34.3 41.5 51.3 32.6 41.2 65.9 40.2 50.4 63.6 109.5 45.1 20

 21 Checkable 5.5 10.7 10.7 7.9 12.2 19.5 34.9 -10.8 3.1 50.6 21.3 21

 22 Small time and savings 26.1 27.4 34.4 20.1 25.0 40.0 -2.0 59.3 52.4 50.4 11.4 22

 23 Large time 2.8 3.4 6.2 4.7 4.1 6.4 7.2 1.9 8.1 8.5 12.5 23

 24 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 -0.0 -0.0 0.0 24

 25 Loans (other loans and advances) -0.4 -2.0 0.9 1.9 8.4 9.3 -2.0 20.1 19.8 -0.9 -6.9 25

 26 Miscellaneous liabilities -8.3 1.3 0.3 1.5 1.2 0.5 7.2 -0.8 -9.8 5.6 22.3 26

 27 Discrepancy -6.4 -27.2 4.8 14.2 -2.0 2.6 -5.2 5.5 1.3 8.7 -9.5 27
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F.115 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (1) 51.3 31.2 45.2 55.4 50.9 43.8 36.5 46.5 46.1 46.0 45.4 1

 2 Fixed nonresidential investment 15.8 16.7 19.1 21.4 22.9 23.8 23.5 23.7 23.9 23.9 23.8 2

 3 Net acquisition of financial assets -38.3 27.4 26.4 40.2 39.5 7.8 -1.9 19.7 37.9 -24.3 39.4 3

 4 Checkable deposits and currency 5.0 -8.5 12.3 -6.7 5.9 -2.9 -0.6 -20.1 15.3 -6.2 -7.8 4

 5 Money market fund shares -4.0 -5.6 2.2 -2.2 -1.9 3.2 2.4 2.3 4.7 3.3 -3.4 5

 6 Security repurchase agreements -0.7 -1.4 -0.8 0.0 0.1 0.0 -0.1 -0.1 0.1 -0.0 -0.3 6

 7 Debt securities 4.2 35.4 0.3 28.6 19.8 -2.3 -28.9 14.2 -2.3 7.7 26.6 7

 8 Open market paper -1.9 0.9 -1.4 0.7 -0.1 0.9 0.6 0.6 1.5 0.9 -1.4 8

 9 Treasury securities 3.2 4.6 -6.7 6.4 6.4 -3.2 -6.3 -2.8 -1.6 -2.3 0.2 9

 10 Agency- and GSE-backed securities -0.4 6.9 -8.4 -4.9 -3.3 -7.6 -10.6 -5.6 -7.8 -6.3 3.4 10

 11 Municipal securities -21.0 -17.4 -2.9 -1.7 -4.2 8.3 -0.5 14.5 7.4 11.7 10.4 11

 12 Corporate and foreign bonds 24.3 40.4 19.6 28.1 21.2 -0.7 -12.3 7.6 -1.9 3.7 13.9 12

 13 Loans (commercial mortgages) -0.3 0.8 0.7 2.3 2.0 2.4 1.9 2.0 2.3 3.4 4.0 13

 14 Corporate equities -20.9 2.9 4.6 3.7 2.6 -2.1 -1.0 -3.8 9.8 -13.3 -4.0 14

 15 Mutual fund shares -0.1 -0.7 1.8 1.0 1.4 1.0 1.0 1.0 1.0 1.0 1.0 15

 16 Trade receivables 0.8 3.4 4.8 3.3 5.5 6.0 21.3 12.9 5.5 -15.6 16.8 16

 17 U.S. direct investment abroad -22.2 1.1 0.4 10.2 4.0 2.5 2.1 11.2 1.5 -4.6 6.4 17

 18 Miscellaneous assets (equity in FHLB) -0.1 -0.0 0.0 0.1 0.0 0.0 0.0 0.1 -0.0 0.0 -0.0 18

 19 Net increase in liabilities 1.5 19.7 -20.7 22.9 -1.0 -4.2 -31.1 -6.4 -0.0 20.8 5.7 19

 20 Security repurchase agreements 0.8 1.7 -1.0 -0.6 -0.4 0.4 0.4 0.0 0.6 0.5 0.9 20

 21 Corporate equity issues -12.7 -10.7 -14.5 -7.6 -16.9 -22.0 -19.4 -20.5 -24.8 -23.4 -24.1 21

 22 Loans (other loans and advances) -1.4 0.1 0.4 0.8 0.1 0.2 0.2 0.8 -0.1 -0.1 -0.3 22

 23 Taxes payable (net) 5.6 -4.4 3.8 19.1 1.9 -8.2 1.4 -18.9 -23.4 8.1 5.3 23

 24 Foreign direct investment in U.S. 2.8 -2.2 -8.2 11.5 -0.5 10.7 -2.5 -1.2 6.5 40.2 -1.5 24

 25 Miscellaneous liabilities 6.3 35.2 -1.0 -0.3 14.8 14.8 -11.2 33.5 41.2 -4.4 25.5 25

 26 Investment by parent companies 0.0 0.0 -6.8 -6.0 0.1 -0.8 -5.5 2.8 0.8 -1.1 -2.1 26

 27 Policy payables 6.3 35.2 5.8 5.7 14.7 15.5 -5.6 30.7 40.4 -3.3 27.6 27

 28 Discrepancy 75.3 6.7 -20.9 16.8 -12.4 8.0 -16.2 -3.2 -15.8 67.2 -12.1 28

(1) Net capital transfers paid from table F.5, line 51.
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F.116 Life Insurance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 16.2 7.2 13.4 7.2 10.7 13.2 14.6 13.0 12.7 12.4 12.1 1

 2 Fixed nonresidential investment 11.5 12.3 14.0 15.4 16.5 17.1 17.0 17.1 17.2 17.2 17.2 2

 3 Net acquisition of financial assets 198.9 216.2 103.6 52.1 144.0 98.1 192.0 -44.5 203.8 41.1 345.5 3

 4 Checkable deposits and currency 1.0 2.0 2.7 -9.2 3.6 6.9 -6.3 -29.8 41.2 22.7 -7.5 4

 5 Money market fund shares -20.1 7.8 -5.8 -10.1 4.0 2.7 -7.6 -4.3 44.7 -22.0 9.0 5

 6 Security repurchase agreements 0.7 -4.7 2.1 -5.3 0.4 5.1 20.0 -1.6 6.6 -4.4 -2.3 6

 7 Debt securities 160.4 102.5 60.6 55.1 70.2 70.9 105.2 54.9 89.6 33.9 266.6 7

 8 Open market paper -8.9 -11.2 13.9 3.2 -4.6 -7.4 3.2 -10.0 -1.7 -21.3 24.3 8

 9 Treasury securities 23.2 18.8 5.5 -12.2 14.3 14.7 35.5 5.1 19.9 -1.6 17.7 9

 10 Agency- and GSE-backed securities 4.0 -1.6 -13.5 -6.8 -15.0 -14.3 -9.0 -12.5 -19.4 -16.3 26.3 10

 11 Municipal securities 39.2 9.4 9.7 10.1 6.2 10.7 8.4 10.2 12.6 11.5 13.3 11

 12 Corporate and foreign bonds 102.9 87.1 45.0 60.8 69.3 67.2 67.1 62.1 78.2 61.5 184.9 12

 13 Loans -8.8 22.9 13.7 22.3 29.5 39.7 31.5 31.1 35.1 61.3 26.4 13

 14 Other loans and advances -0.2 7.9 1.8 3.5 8.0 -0.2 3.8 -6.3 3.0 -1.3 -3.8 14

 15 Mortgages -8.6 15.0 11.9 18.8 21.6 40.0 27.8 37.4 32.1 62.6 30.2 15

 16 Corporate equities 8.3 15.1 -4.6 -12.4 -4.6 -3.0 4.4 -3.4 -9.6 -3.4 2.9 16

 17 Mutual fund shares 63.2 11.0 2.3 -19.1 -33.4 -29.1 -27.0 -32.6 -37.7 -19.2 -42.2 17

 18 U.S. direct investment abroad 1.9 3.3 5.9 2.9 2.2 3.7 7.5 5.4 -2.0 4.0 -0.8 18

 19 Miscellaneous assets -7.6 56.4 26.8 28.0 72.0 1.1 64.2 -64.3 36.0 -31.7 93.4 19

 20 Equity in FHLB -0.0 -0.7 0.0 0.8 0.1 0.4 0.5 0.6 -0.5 1.0 0.3 20

 21 Deferred and unpaid life ins. premiums 2.7 -0.4 0.6 3.0 1.2 1.5 4.6 3.2 -1.6 -0.2 5.1 21

 22 Other -10.2 57.5 26.2 24.2 70.7 -0.8 59.1 -68.1 38.1 -32.5 88.0 22

 23 Net increase in liabilities 162.5 190.9 67.1 36.4 104.8 90.6 156.9 -6.2 216.1 -4.5 347.2 23

 24 Security repurchase agreements -2.2 1.9 2.3 6.5 1.0 0.9 1.0 1.2 -0.1 1.5 0.4 24

 25 Corporate equity issues -4.8 -11.5 -9.9 -9.2 -14.9 -10.0 -22.5 -3.7 -7.5 -6.3 -6.9 25

 26 Loans (other loans and advances) -2.1 1.5 3.2 2.0 1.8 5.2 8.6 7.4 4.2 0.7 10.0 26

 27 Life insurance reserves 15.9 78.2 -15.1 19.9 47.1 44.6 60.4 32.2 57.4 28.5 62.2 27

 28 Pension entitlements (2) 102.3 82.3 52.7 28.9 26.1 46.9 -41.8 65.6 111.2 52.5 85.4 28

 29 Taxes payable (net) 2.6 5.2 -4.6 -2.3 -1.9 -0.7 10.0 -5.6 -8.9 1.8 5.6 29

 30 Foreign direct investment in U.S. 6.3 -5.4 2.4 0.9 5.8 9.2 28.4 2.8 -1.1 6.7 0.3 30

 31 Miscellaneous liabilities 44.5 38.7 36.1 -10.4 39.8 -5.5 112.8 -106.0 60.9 -89.9 190.2 31

 32 Investment by parent companies 22.2 9.3 10.3 -1.6 0.8 0.5 1.1 0.2 0.9 -0.2 3.5 32

 33 Funding agreements backing securities (3) -9.7 -8.5 -0.4 -8.4 9.2 1.6 6.2 -5.9 -12.2 18.3 -3.4 33

 34 Other reserves (4) 17.1 14.8 -1.8 0.4 5.8 8.9 13.9 2.2 19.8 -0.6 26.8 34

 35 Unallocated insurance contracts 12.9 13.0 4.3 -4.4 -3.3 6.0 20.3 1.9 -35.7 37.4 4.8 35

 36 Other 1.9 10.1 23.7 3.6 27.3 -22.5 71.2 -104.4 88.0 -144.8 158.5 36

 37 Discrepancy -31.8 -30.3 -37.2 -23.9 -45.0 -11.4 -37.4 34.2 7.8 -50.4 -3.4 37

(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 35.

(3) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 126.9 176.4 56.5 84.6 155.6 77.3 -79.0 9.2 266.5 112.5 342.0 1

 2 Checkable deposits and currency -2.0 3.0 1.4 -4.8 3.5 9.0 -4.1 -27.6 43.2 24.7 -9.0 2

 3 Money market fund shares -12.7 7.9 -1.4 -5.9 6.1 0.7 -1.2 -4.6 22.6 -13.8 7.9 3

 4 Security repurchase agreements 0.7 -4.7 2.1 -5.3 0.4 5.1 20.0 -1.6 6.6 -4.4 -2.3 4

 5 Debt securities 120.5 98.7 22.9 49.7 71.0 43.9 -49.7 56.4 91.9 77.0 228.7 5

 6 Open market paper -12.0 -12.6 15.9 1.4 -6.0 -4.4 6.4 -6.9 1.3 -18.4 22.2 6

 7 Treasury securities 15.2 10.3 1.3 -11.3 9.1 5.7 -0.0 4.7 13.2 5.0 11.9 7

 8 Agency- and GSE-backed securities -5.6 -1.5 -4.9 -6.6 -3.3 -12.6 -22.4 -11.5 -8.9 -7.7 18.7 8

 9 Municipal securities 39.5 9.2 9.0 9.2 5.3 9.6 4.1 10.0 11.6 12.5 12.5 9

 10 Corporate and foreign bonds 83.4 93.3 1.6 57.0 66.0 45.6 -37.8 60.1 74.6 85.6 163.4 10

 11 Loans -8.8 23.7 15.0 20.4 28.1 26.1 -20.3 30.3 34.0 60.4 26.0 11

 12 Other loans and advances -0.2 7.9 1.9 3.5 8.0 -5.1 -15.5 -6.3 2.9 -1.5 -2.9 12

 13 Mortgages -8.6 15.8 13.1 16.9 20.2 31.2 -4.8 36.6 31.1 61.9 28.9 13

 14 Corporate equities 4.0 0.3 -2.5 0.8 5.5 2.7 3.8 4.9 5.3 -3.1 3.1 14

 15 Mutual fund shares -0.1 0.7 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 U.S. direct investment abroad 1.9 3.3 5.9 2.9 2.2 3.7 7.5 5.4 -2.0 4.0 -0.8 16

 17 Miscellaneous assets 23.4 43.7 12.8 27.0 38.7 -14.1 -35.0 -53.9 64.9 -32.3 88.2 17

 18 Net increase in liabilities 91.2 151.2 17.8 68.7 116.0 58.7 -121.8 37.5 267.0 52.2 344.1 18

 19 Security repurchase agreements -2.2 1.9 2.3 6.5 1.0 0.9 1.0 1.2 -0.1 1.5 0.4 19

 20 Corporate equity issues -4.8 -11.5 -9.9 -9.2 -14.9 -10.0 -22.5 -3.7 -7.5 -6.3 -6.9 20

 21 Loans (other loans and advances) -2.1 1.5 3.2 2.0 1.8 5.2 8.6 7.4 4.2 0.7 10.0 21

 22 Life insurance reserves 32.0 73.0 -6.2 28.3 46.1 4.1 -81.1 24.9 44.3 28.2 62.0 22

 23 Pension entitlements (1) 35.7 44.4 1.8 46.0 42.6 54.9 -80.4 88.5 150.2 61.3 82.1 23

 24 Taxes payable (net) 2.6 5.2 -4.6 -2.3 -1.9 -0.7 10.0 -5.6 -8.9 1.8 5.6 24

 25 Foreign direct investment in U.S. 6.3 -5.4 2.4 0.9 5.8 9.2 28.4 2.8 -1.1 6.7 0.3 25

 26 Miscellaneous liabilities 23.7 42.1 28.8 -3.7 35.5 -4.9 14.3 -78.0 86.0 -41.7 190.5 26

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 26).

F.116.s Life Insurance Companies: Separate Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 72.1 39.8 47.1 -32.5 -11.6 20.8 270.9 -53.6 -62.7 -71.5 3.6 1

 2 Checkable deposits and currency 3.0 -0.9 1.3 -4.4 0.2 -2.1 -2.2 -2.2 -2.1 -2.0 1.4 2

 3 Money market fund shares -7.5 -0.0 -4.5 -4.2 -2.1 1.9 -6.4 0.3 22.0 -8.2 1.1 3

 4 Debt securities 40.0 3.8 37.7 5.4 -0.9 27.0 154.9 -1.5 -2.2 -43.1 37.8 4

 5 Open market paper 3.1 1.4 -2.0 1.8 1.5 -3.0 -3.2 -3.1 -3.0 -2.9 2.1 5

 6 Treasury securities 8.0 8.5 4.2 -0.9 5.2 9.0 35.5 0.4 6.7 -6.5 5.8 6

 7 Agency- and GSE-backed securities 9.6 -0.0 -8.5 -0.2 -11.7 -1.7 13.4 -1.0 -10.5 -8.6 7.6 7

 8 Municipal securities -0.3 0.2 0.7 0.9 0.9 1.1 4.3 0.2 0.9 -1.0 0.9 8

 9 Corporate and foreign bonds 19.5 -6.2 43.3 3.8 3.3 21.6 104.9 2.0 3.6 -24.2 21.5 9

 10 Loans -0.1 -0.8 -1.3 1.9 1.4 13.6 51.8 0.9 1.1 0.8 0.4 10

 11 Other loans and advances -0.0 -0.0 -0.1 0.0 0.0 4.9 19.2 0.1 0.1 0.2 -0.9 11

 12 Mortgages -0.0 -0.8 -1.1 1.9 1.4 8.8 32.6 0.8 1.0 0.7 1.3 12

 13 Corporate equities 4.3 14.8 -2.2 -13.2 -10.0 -5.7 0.6 -8.3 -14.9 -0.3 -0.2 13

 14 Mutual fund shares 63.3 10.3 2.1 -19.0 -33.4 -29.2 -27.0 -32.6 -37.8 -19.3 -42.2 14

 15 Miscellaneous assets -31.0 12.7 13.9 1.1 33.3 15.1 99.2 -10.3 -28.9 0.5 5.2 15

 16 Net increase in liabilities 71.3 39.7 49.3 -32.2 -11.2 31.9 278.7 -43.7 -50.9 -56.7 3.2 16

 17 Life insurance reserves -16.1 5.2 -8.8 -8.5 1.0 40.6 141.6 7.3 13.1 0.3 0.2 17

 18 Pension entitlements (1) 66.6 38.0 50.8 -17.1 -16.5 -8.0 38.6 -23.0 -39.0 -8.8 3.3 18

 19 Miscellaneous liabilities 20.8 -3.4 7.3 -6.7 4.3 -0.7 98.5 -28.0 -25.0 -48.2 -0.4 19

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds which are included in miscellaneous liabilities (line 19).
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F.117 Private and Public Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 Fixed nonresidential investment 0.1 0.1 0.3 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 2

 3 Net acquisition of financial assets (2) 567.3 429.8 490.4 442.5 403.3 350.9 402.0 353.7 232.8 415.2 351.2 3

 4 Checkable deposits and currency 2.6 5.7 -2.3 -0.1 0.9 2.0 2.6 1.0 0.9 3.6 2.4 4

 5 Time and savings deposits 5.1 4.0 -6.5 6.9 4.9 6.8 12.7 6.1 -2.1 10.5 7.4 5

 6 Money market fund shares -9.4 16.0 -20.7 15.9 -4.5 7.9 11.5 -3.1 2.1 21.1 12.9 6

 7 Security repurchase agreements 0.1 0.1 -0.6 0.6 0.5 0.5 1.2 0.6 -0.5 0.8 0.2 7

 8 Debt securities 216.0 176.1 196.4 287.5 154.4 112.5 -212.2 -460.1 -417.0 1539.4 169.8 8

 9 Open market paper 3.9 4.5 -7.7 7.8 6.4 7.2 15.0 7.4 -5.1 11.4 8.9 9

 10 Treasury securities (3) 113.8 139.7 128.0 124.3 88.4 93.4 -298.7 -460.6 -381.4 1514.3 89.2 10

 11 Agency- and GSE-backed securities 9.7 -35.2 -21.3 -4.6 -15.1 -14.8 -16.5 -22.1 -23.8 3.2 -10.6 11

 12 Municipal securities 0.7 -0.6 -0.0 0.9 1.0 -0.4 -5.5 7.5 -6.9 3.2 0.3 12

 13 Corporate and foreign bonds 87.8 67.7 97.3 159.1 73.8 27.1 93.5 7.5 0.2 7.3 82.0 13

 14 Loans (mortgages) 2.5 -5.2 0.2 -1.2 -0.1 -3.3 -11.8 -1.0 -3.2 2.9 -1.4 14

 15 Corporate equities -47.1 -151.6 -103.3 -377.6 -207.7 -137.4 -48.4 -100.4 -85.3 -315.7 -246.7 15

 16 Mutual fund shares 99.0 4.3 50.7 129.6 111.7 -12.4 8.8 4.4 -83.7 20.6 12.0 16

 17 Miscellaneous assets 298.5 380.4 376.4 381.0 343.2 374.3 637.5 906.3 821.6 -868.1 394.5 17

 18 Unallocated insurance contracts (4) 12.9 13.0 4.3 -4.4 -3.3 6.0 20.3 1.9 -35.7 37.4 4.8 18

 19 Contributions receivable 15.4 3.0 -12.3 -2.5 -1.1 2.8 6.7 1.1 -0.1 3.3 -6.0 19

 20 Claims of pension fund on sponsor (5) 237.2 317.7 350.9 346.1 314.1 339.5 560.8 890.5 849.6 -943.0 363.5 20

 21 Other 33.1 46.9 33.5 41.8 33.5 26.1 49.6 12.7 7.8 34.3 32.2 21

 22 Pension entitlements (liabilities) (6) 567.2 429.7 490.6 442.8 403.6 351.2 402.4 354.0 233.1 415.5 351.4 22

 Memo:

 23 Household retirement assets (7) 775.0 746.4 644.2 732.6 606.4 613.1 572.4 738.2 535.7 606.0 ND 23

 24 Defined benefit plans 352.4 351.9 321.8 287.7 267.7 266.4 265.8 267.1 266.3 266.2 266.7 24

 25 Defined contribution plans 214.8 77.9 168.6 154.8 135.6 84.6 136.3 86.6 -33.5 149.0 84.5 25

 26 Individual retirement plans (IRAs) (8) 133.5 250.0 126.9 279.4 192.0 224.6 218.8 322.1 172.7 184.9 ND 26

 27 Annuities at life insurance companies (9) 74.2 66.6 26.9 10.6 11.1 37.5 -48.4 62.4 130.2 5.9 ND 27

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(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.227 for a sectoral distribution of IRA accounts.

(9) Annuities held in IRAs are excluded. They are included in line 26.
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F.118 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets (2) 225.2 132.4 186.1 135.6 120.3 48.6 98.8 57.5 -33.9 71.8 52.9 3

 4 Checkable deposits and currency 2.1 5.5 -2.0 -0.4 0.4 1.6 1.6 0.4 1.5 2.9 1.9 4

 5 Time and savings deposits -0.4 1.8 -3.8 4.7 0.2 3.1 3.8 1.4 2.8 4.3 3.1 5

 6 Money market fund shares -10.8 17.0 -16.8 12.6 -9.3 3.5 1.2 -8.8 11.7 9.9 7.8 6

 7 Security repurchase agreements -0.2 0.0 -0.3 0.4 0.0 0.2 0.3 0.1 -0.1 0.3 -0.2 7

 8 Debt securities 116.2 75.0 142.9 89.8 23.1 42.6 56.0 6.2 45.7 62.4 64.9 8

 9 Open market paper -1.4 2.4 -4.6 5.4 1.2 3.1 5.3 2.3 0.2 4.7 4.3 9

 10 Treasury securities 29.8 38.4 63.5 -2.0 12.7 15.4 22.6 14.6 11.2 13.3 8.3 10

 11 Agency- and GSE-backed securities 6.6 -9.5 1.9 -5.8 -10.5 -7.3 -7.4 -14.2 -7.5 -0.0 -5.0 11

 12 Corporate and foreign bonds 81.2 43.7 82.1 92.2 19.6 31.3 35.5 3.5 41.7 44.4 57.3 12

 13 Loans (mortgages) 2.8 -4.6 1.2 -0.7 0.2 -1.5 -2.3 -3.1 -1.2 0.7 -0.3 13

 14 Corporate equities 21.6 -82.6 -23.7 -207.7 -102.4 -81.0 -14.8 -46.9 -96.1 -166.1 -152.1 14

 15 Mutual fund shares 97.7 70.8 73.0 104.7 123.4 7.2 22.4 41.4 -48.6 13.7 16.4 15

 16 Miscellaneous assets -3.8 49.5 15.6 132.3 84.8 72.9 30.6 66.8 50.5 143.7 111.3 16

 17 Unallocated insurance contracts (3) -1.2 22.6 5.4 -3.7 3.1 4.2 13.5 -0.5 -20.5 24.4 4.9 17

 18 Contributions receivable 15.4 3.0 -12.3 -2.5 -1.1 2.8 6.7 1.1 -0.1 3.3 -6.0 18

 19 Claims of pension fund on sponsor (4) -32.1 -19.5 -11.6 110.9 54.2 43.3 -21.4 51.3 56.5 86.7 82.6 19

 20 Other 14.2 43.4 34.1 27.6 28.6 22.6 31.8 14.9 14.5 29.3 29.8 20

 21 Pension entitlements (liabilities) (5) 225.2 132.4 186.1 135.6 120.4 48.6 98.8 57.6 -33.8 71.9 53.0 21

 Memo:

 Net acquisition of financial assets (6)

 22 Defined benefit plans 47.5 46.6 22.5 -8.0 -22.6 -22.7 -22.7 -22.7 -22.7 -22.7 -22.7 22

 23 Defined contribution plans 177.7 85.7 163.6 143.6 142.9 71.3 121.4 80.2 -11.2 94.5 75.6 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.118.b and F.118.c.
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F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (1) 47.5 46.6 22.5 -8.0 -22.6 -22.7 -22.7 -22.7 -22.7 -22.7 -22.7 1

 2 Checkable deposits and currency 2.7 1.8 -1.0 0.3 0.1 0.8 1.1 0.4 0.3 1.4 0.1 2

 3 Time and savings deposits -0.2 1.2 -3.3 4.5 -0.1 2.6 3.5 1.4 2.1 3.5 2.1 3

 4 Money market fund shares -5.1 -0.3 -4.0 5.3 -1.5 -0.9 -2.2 -4.6 0.6 2.7 1.8 4

 5 Security repurchase agreements -0.2 0.0 -0.3 0.4 0.0 0.2 0.3 0.1 -0.1 0.3 -0.2 5

 6 Debt securities 70.5 80.5 83.9 74.3 15.0 21.8 32.2 -9.0 24.4 39.8 43.5 6

 7 Open market paper -1.0 1.1 -3.6 4.9 0.5 1.9 3.9 1.5 -1.0 3.1 2.3 7

 8 Treasury securities 7.4 32.9 36.0 -2.7 5.6 7.4 13.0 4.9 5.8 5.7 1.3 8

 9 Agency- and GSE-backed securities 2.7 0.7 -9.1 -6.2 -6.0 -4.9 -4.4 -7.4 -6.6 -1.1 -5.7 9

 10 Corporate and foreign bonds 61.4 45.8 60.7 78.3 14.9 17.5 19.7 -8.1 26.2 32.0 45.7 10

 11 Loans (mortgages) 1.2 -2.4 -0.1 -1.1 -0.4 -1.2 -1.5 -2.4 -1.2 0.4 -0.9 11

 12 Corporate equities -4.1 -72.7 -11.0 -186.1 -85.9 -77.1 -30.9 -37.6 -90.7 -149.3 -136.3 12

 13 Mutual fund shares 0.7 22.3 -28.7 -9.3 -9.9 -16.6 -16.6 -18.6 -8.8 -22.3 -9.8 13

 14 Miscellaneous assets -17.7 16.3 -12.9 103.7 60.0 47.6 -8.6 47.6 50.6 100.9 76.9 14

 15 Unallocated insurance contracts (2) -8.3 12.9 -9.5 -2.7 0.6 1.2 0.8 -0.7 -0.9 5.7 -3.1 15

 16 Contributions receivable 13.4 1.7 -12.4 -4.1 -1.9 1.7 4.6 1.2 -2.4 3.3 -7.1 16

 17 Claims of pension fund on sponsor (3) -32.1 -19.5 -11.6 110.9 54.2 43.3 -21.4 51.3 56.5 86.7 82.6 17

 18 Other 9.3 21.2 20.6 -0.4 7.1 1.4 7.4 -4.2 -2.7 5.2 4.5 18

 19 Net increase in pension entitlements (liabilities) (4) 47.5 46.6 22.6 -7.9 -22.5 -22.6 -22.6 -22.6 -22.6 -22.6 -22.6 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

F.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 177.7 85.7 163.6 143.6 142.9 71.3 121.4 80.2 -11.2 94.5 75.6 1

 2 Checkable deposits and currency -0.5 3.7 -0.9 -0.7 0.3 0.8 0.5 0.0 1.2 1.5 1.9 2

 3 Time and savings deposits -0.2 0.6 -0.4 0.2 0.3 0.5 0.3 0.0 0.7 0.8 1.0 3

 4 Money market fund shares -5.7 17.4 -12.8 7.2 -7.8 4.3 3.4 -4.3 11.0 7.2 6.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 45.7 -5.4 58.9 15.5 8.1 20.7 23.7 15.2 21.3 22.6 21.4 6

 7 Open market paper -0.4 1.3 -1.0 0.5 0.7 1.3 1.4 0.8 1.2 1.6 2.1 7

 8 Treasury securities 22.4 5.5 27.5 0.7 7.2 8.1 9.6 9.7 5.4 7.6 6.9 8

 9 Agency- and GSE-backed securities 3.9 -10.2 11.0 0.4 -4.4 -2.4 -3.0 -6.8 -0.9 1.1 0.7 9

 10 Corporate and foreign bonds 19.8 -2.0 21.4 13.9 4.7 13.8 15.8 11.6 15.5 12.3 11.7 10

 11 Loans (mortgages) 1.6 -2.2 1.3 0.4 0.5 -0.3 -0.8 -0.7 0.0 0.3 0.6 11

 12 Corporate equities 25.7 -10.0 -12.7 -21.6 -16.5 -3.9 16.1 -9.3 -5.4 -16.8 -15.8 12

 13 Mutual fund shares 97.1 48.5 101.7 114.0 133.3 23.8 38.9 60.1 -39.8 36.1 26.2 13

 14 Miscellaneous assets 14.0 33.2 28.5 28.6 24.8 25.3 39.2 19.1 -0.1 42.8 34.4 14

 15 Unallocated insurance contracts (2) 7.1 9.7 14.9 -1.0 2.4 3.0 12.7 0.1 -19.6 18.7 7.9 15

 16 Contributions receivable 2.0 1.3 0.1 1.7 0.8 1.1 2.2 -0.1 2.2 -0.0 1.1 16

 17 Other 4.9 22.2 13.5 27.9 21.5 21.2 24.4 19.0 17.3 24.1 25.3 17

 18 Net increase in pension entitlements (liabilities) 177.7 85.7 163.6 143.6 142.9 71.3 121.4 80.2 -11.2 94.5 75.6 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
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F.119 Federal Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (1) 102.1 113.0 102.1 107.6 112.8 108.3 103.6 103.3 106.6 119.9 104.5 1

 2 Debt securities 76.6 96.3 55.8 107.9 86.5 92.2 -304.3 -460.0 -362.7 1495.7 93.5 2

 3 Treasury securities (2) 75.8 94.2 52.5 110.9 87.0 91.3 -304.8 -460.6 -365.2 1495.7 93.2 3

 4 Agency- and GSE-backed securities 0.6 0.7 1.5 -1.7 -0.5 0.2 0.5 0.4 -0.3 0.2 0.3 4

 5 Corporate and foreign bonds 0.2 1.4 1.7 -1.3 -0.0 0.7 0.0 0.2 2.8 -0.2 -0.0 5

 6 Corporate equities 5.4 -4.2 -4.1 9.1 3.5 0.2 5.7 -3.8 -1.2 -0.0 -11.9 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 20.2 20.8 50.4 -9.3 22.8 16.0 402.2 567.0 470.5 -1375.8 22.9 7

 8 Pension entitlements (liabilities) (4) 102.1 113.0 102.1 107.6 112.8 108.3 103.6 103.3 106.6 119.9 104.5 8

 Memo:

 Net acquisition of financial assets (5)

 9 Defined benefit plans 84.2 90.0 87.5 88.7 90.1 90.3 89.8 91.1 90.3 90.2 90.6 9

 10 Defined contibution plans 18.0 23.0 14.5 19.0 22.6 18.0 13.8 12.2 16.3 29.7 13.9 10

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes marketable and nonmarketable Treasury securities.

(3) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) 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.

(5) 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 Z.1, June 9, 2016

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (2) 84.2 90.0 87.5 88.7 90.1 90.3 89.8 91.1 90.3 90.2 90.6 1

 2 Debt securities 64.9 71.1 40.4 98.2 69.1 75.9 -67.5 -209.0 -86.9 667.2 68.3 2

 3 Treasury securities (3) 65.4 70.4 40.1 98.2 68.9 75.4 -67.0 -208.8 -90.2 667.7 68.7 3

 4 Agency- and GSE-backed securities -0.2 -0.2 -0.2 -0.0 -0.1 0.0 -0.0 -0.0 0.1 -0.0 -0.0 4

 5 Corporate and foreign bonds -0.3 0.8 0.4 0.1 0.3 0.5 -0.5 -0.2 3.2 -0.5 -0.3 5

 6 Corporate equities -0.9 -1.9 -2.0 -1.5 -1.7 -1.6 -1.2 -0.4 -4.0 -0.9 -0.6 6

 7 Claims of pension fund on sponsor (misc. assets) (4) 20.2 20.8 49.2 -8.1 22.8 16.0 158.5 300.5 181.1 -576.1 22.9 7

 8 Pension entitlements (liabilities) (5) 84.2 90.0 87.5 88.7 90.1 90.3 89.8 91.1 90.3 90.2 90.6 8

(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) Includes both marketable and nonmarketable government securities.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 18.0 23.0 14.5 19.0 22.6 18.0 13.8 12.2 16.3 29.7 13.9 1

 2 Debt securities 11.6 25.2 15.4 9.6 17.4 16.2 -236.8 -251.0 -275.9 828.5 25.1 2

 3 Treasury securities (2) 10.4 23.7 12.4 12.7 18.2 15.9 -237.8 -251.8 -275.0 828.0 24.5 3

 4 Agency- and GSE-backed securities 0.8 0.9 1.7 -1.7 -0.4 0.2 0.5 0.4 -0.5 0.3 0.3 4

 5 Corporate and foreign bonds 0.5 0.6 1.3 -1.4 -0.4 0.2 0.5 0.4 -0.5 0.3 0.3 5

 6 Corporate equities 6.3 -2.3 -2.1 10.6 5.2 1.8 6.9 -3.4 2.7 0.8 -11.2 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 0.0 0.0 1.2 -1.2 0.0 0.0 243.7 266.5 289.4 -799.7 0.0 7

 8 Pension entitlements (liabilities) 18.0 23.0 14.5 19.0 22.6 18.0 13.8 12.2 16.3 29.7 13.9 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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F.120 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 Fixed nonresidential investment 0.1 0.1 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.4 2

 3 Net acquisition of financial assets (1) 239.9 184.5 202.2 199.3 170.2 194.0 199.7 192.9 160.1 223.5 193.7 3

 4 Checkable deposits and currency 0.5 0.2 -0.3 0.3 0.6 0.4 1.0 0.6 -0.6 0.7 0.5 4

 5 Time and savings deposits 5.5 2.3 -2.8 2.2 4.7 3.7 8.9 4.7 -4.9 6.1 4.2 5

 6 Money market fund shares 1.4 -1.1 -3.9 3.3 4.8 4.4 10.4 5.7 -9.6 11.2 5.1 6

 7 Security repurchase agreements 0.3 0.1 -0.3 0.2 0.4 0.4 0.8 0.4 -0.5 0.6 0.4 7

 8 Debt securities 23.2 4.7 -2.3 89.9 44.9 -22.2 36.2 -6.4 -99.9 -18.6 11.4 8

 9 Open market paper 5.3 2.1 -3.0 2.4 5.2 4.0 9.7 5.1 -5.3 6.7 4.6 9

 10 Treasury securities 8.3 7.1 12.0 15.4 -11.3 -13.3 -16.4 -14.5 -27.5 5.3 -12.3 10

 11 Agency- and GSE-backed securities 2.5 -26.5 -24.8 2.9 -4.2 -7.7 -9.5 -8.3 -15.9 3.0 -5.9 11

 12 Municipal securities 0.7 -0.6 -0.0 0.9 1.0 -0.4 -5.5 7.5 -6.9 3.2 0.3 12

 13 Corporate and foreign bonds 6.5 22.6 13.5 68.3 54.2 -4.8 58.0 3.8 -44.3 -36.8 24.7 13

 14 Loans (mortgages) -0.3 -0.6 -1.0 -0.5 -0.3 -1.8 -9.5 2.1 -2.1 2.2 -1.0 14

 15 Corporate equities -74.1 -64.8 -75.4 -179.0 -108.8 -56.6 -39.3 -49.7 12.1 -149.6 -82.7 15

 16 Mutual fund shares 1.2 -66.5 -22.3 25.0 -11.7 -19.7 -13.5 -37.0 -35.1 6.9 -4.4 16

 17 Miscellaneous assets 282.2 310.1 310.4 258.0 235.6 285.4 204.7 272.5 300.5 364.0 260.2 17

 18 Unallocated insurance contracts (2) 14.1 -9.6 -1.2 -0.7 -6.4 1.7 6.8 2.4 -15.2 12.9 -0.1 18

 19 Claims of pension fund on sponsor (3) 249.1 316.3 312.2 244.4 237.1 280.2 180.0 272.2 322.5 346.1 257.9 19

 20 Other 18.9 3.4 -0.6 14.3 4.8 3.5 17.9 -2.1 -6.8 5.0 2.4 20

 21 Pension entitlements (liabilities) (4) 239.9 184.4 202.3 199.5 170.5 194.3 200.0 193.1 160.3 223.8 194.0 21

 Memo:

 Net acquisition of financial assets (5)

 22 Defined benefit plans 220.7 215.2 211.7 207.0 200.2 198.7 198.7 198.7 198.7 198.7 198.7 22

 23 Defined contibution plans 19.2 -30.8 -9.5 -7.7 -29.9 -4.7 1.0 -5.8 -38.7 24.8 -5.0 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 Z.1, June 9, 2016

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (1) 220.7 215.2 211.7 207.0 200.2 198.7 198.7 198.7 198.7 198.7 198.7 1

 2 Checkable deposits and currency 0.5 0.2 -0.3 0.3 0.6 0.4 1.0 0.6 -0.6 0.7 0.5 2

 3 Time and savings deposits 5.5 2.3 -2.8 2.2 4.7 3.7 8.9 4.7 -4.9 6.1 4.2 3

 4 Money market fund shares 2.1 0.4 -3.3 2.6 5.7 4.4 10.6 5.6 -5.8 7.3 5.1 4

 5 Security repurchase agreements 0.3 0.1 -0.3 0.2 0.4 0.4 0.8 0.4 -0.5 0.6 0.4 5

 6 Debt securities 23.2 4.7 -2.3 89.9 44.9 -22.2 36.2 -6.4 -99.9 -18.6 11.4 6

 7 Open market paper 5.3 2.1 -3.0 2.4 5.2 4.0 9.7 5.1 -5.3 6.7 4.6 7

 8 Treasury securities 8.3 7.1 12.0 15.4 -11.3 -13.3 -16.4 -14.5 -27.5 5.3 -12.3 8

 9 Agency- and GSE-backed securities 2.5 -26.5 -24.8 2.9 -4.2 -7.7 -9.5 -8.3 -15.9 3.0 -5.9 9

 10 Municipal securities 0.7 -0.6 -0.0 0.9 1.0 -0.4 -5.5 7.5 -6.9 3.2 0.3 10

 11 Corporate and foreign bonds 6.5 22.6 13.5 68.3 54.2 -4.8 58.0 3.8 -44.3 -36.8 24.7 11

 12 Loans (mortgages) -0.3 -0.6 -1.0 -0.5 -0.3 -1.8 -9.5 2.1 -2.1 2.2 -1.0 12

 13 Corporate equities -74.1 -64.8 -75.4 -179.0 -108.8 -56.6 -39.3 -49.7 12.1 -149.6 -82.7 13

 14 Mutual fund shares -0.9 -45.0 -12.0 37.4 14.3 -10.7 -5.1 -25.7 -15.4 3.2 1.8 14

 15 Miscellaneous assets 264.4 317.9 309.0 254.0 238.7 281.1 195.0 267.1 315.8 346.7 259.2 15

 16 Claims of pension fund on sponsor (2) 249.1 316.3 312.2 244.4 237.1 280.2 180.0 272.2 322.5 346.1 257.9 16

 17 Other 15.3 1.6 -3.1 9.5 1.6 0.9 15.0 -5.1 -6.8 0.6 1.3 17

 18 Pension entitlements (liabilities) (3) 220.7 215.2 211.8 207.2 200.4 199.0 199.0 199.0 199.0 199.0 199.0 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

F.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 19.2 -30.8 -9.5 -7.7 -29.9 -4.7 1.0 -5.8 -38.7 24.8 -5.0 1

 2 Money market fund shares -0.7 -1.5 -0.6 0.6 -0.8 -0.0 -0.2 0.1 -3.8 3.9 0.1 2

 3 Mutual fund shares 2.2 -21.5 -10.3 -12.4 -26.0 -8.9 -8.5 -11.3 -19.7 3.7 -6.1 3

 4 Miscellaneous assets 17.7 -7.8 1.4 4.0 -3.1 4.3 9.7 5.4 -15.2 17.3 1.0 4

 5 Unallocated insurance contracts (misc. assets) (2) 14.1 -9.6 -1.2 -0.7 -6.4 1.7 6.8 2.4 -15.2 12.9 -0.1 5

 6 Other 3.6 1.8 2.6 4.7 3.3 2.6 2.9 2.9 0.0 4.4 1.1 6

 7 Pension entitlements (liabilities) 19.2 -30.8 -9.5 -7.7 -29.9 -4.7 1.0 -5.8 -38.7 24.8 -5.0 7

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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F.121 Money Market Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets -512.4 -112.6 2.2 24.6 6.8 30.1 -84.5 43.5 43.4 118.0 257.0 1

 2 Foreign deposits 8.9 -64.2 0.3 -9.8 -9.8 -13.4 -16.1 8.0 -39.7 -6.0 26.0 2

 3 Checkable deposits and currency -3.8 6.0 -3.7 -3.3 -17.9 11.9 3.0 25.2 12.7 6.8 22.5 3

 4 Time and savings deposits -109.8 -57.1 32.5 59.5 20.4 -78.4 71.0 -3.5 -204.3 -176.9 272.1 4

 5 Security repurchase agreements -0.6 11.7 54.1 -53.2 152.9 44.8 40.3 -28.3 153.9 13.3 -291.0 5

 6 Debt securities -403.2 -8.1 -87.2 28.9 -124.2 72.2 -154.8 98.7 139.6 205.5 291.2 6

 7 Open market paper -118.7 -40.5 -14.4 10.7 -19.2 -39.8 6.6 27.2 -1.0 -192.1 105.5 7

 8 Treasury securities -72.4 110.4 13.8 29.8 -77.1 63.9 30.9 67.7 -84.9 241.8 235.8 8

 9 Agency- and GSE-backed securities -143.0 1.2 -62.2 17.3 23.3 76.9 -138.9 34.8 196.4 215.3 91.7 9

 10 Municipal securities -53.1 -29.2 -21.1 -28.6 -27.0 -13.6 -9.9 -29.8 -7.4 -7.5 -95.2 10

 11 Corporate and foreign bonds -16.0 -50.0 -3.3 -0.2 -24.2 -15.1 -43.5 -1.2 36.4 -52.0 -46.5 11

 12 Miscellaneous assets -3.9 -0.8 6.2 2.6 -14.6 -7.0 -27.8 -56.6 -18.8 75.2 -63.9 12

 13 Net share issues (liabilities) -512.4 -112.6 2.2 24.6 6.8 30.1 -84.5 43.5 43.4 118.0 257.0 13

 Memo:

 14 Variable annuity money market mutual funds included above -8.7 0.3 -4.9 -4.1 -2.7 1.9 -6.9 0.5 22.7 -8.6 1.4 14

(1) Open-end investment companies including variable annuity money market mutual funds.

F.122 Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving -24.9 -35.7 -41.5 -57.0 -53.4 -54.5 -50.0 -56.0 -56.0 -56.0 -56.0 1

 2 Net acquisition of financial assets 395.9 200.7 386.2 346.0 309.4 95.3 239.0 233.7 -28.8 -62.8 -33.9 2

 3 Security repurchase agreements -2.8 15.0 6.3 22.3 9.9 -12.4 -5.2 -16.6 -22.9 -4.8 14.8 3

 4 Debt securities 446.1 148.6 508.5 110.9 93.1 92.5 243.1 389.9 -171.8 -91.2 141.7 4

 5 Open market paper -2.8 15.0 6.3 22.3 9.9 -12.4 -21.6 -23.7 -17.7 13.6 0.1 5

 6 Treasury securities 129.8 31.1 97.4 -54.3 193.3 139.9 79.5 126.6 222.1 131.4 13.0 6

 7 Agency- and GSE-backed securities 74.7 70.9 106.6 -41.3 -200.3 -107.0 59.7 -103.1 -208.0 -176.8 9.2 7

 8 Municipal securities 33.0 -7.5 70.8 -39.5 15.1 16.2 42.9 10.9 -10.6 21.7 78.5 8

 9 Corporate and foreign bonds 211.5 39.0 227.5 223.7 75.1 55.8 82.6 379.3 -157.6 -81.0 41.0 9

 10 Loans (other loans and advances) -0.8 18.9 12.2 39.4 9.4 -15.6 23.5 -24.1 -50.9 -11.0 -48.8 10

 11 Corporate equities 69.0 7.0 -46.3 197.3 94.2 55.8 100.8 166.9 94.2 -138.6 -118.5 11

 12 Miscellaneous assets -115.6 11.3 -94.5 -23.8 102.7 -25.0 -123.2 -282.4 122.7 182.7 -23.1 12

 13 Net share issues (liabilities) 395.9 200.7 386.2 346.0 309.4 95.3 239.0 233.7 -28.8 -62.8 -33.9 13

 14 Discrepancy -24.9 -35.7 -41.5 -57.0 -53.4 -54.5 -50.0 -56.0 -56.0 -56.0 -56.0 14

 Memo:

 15 Variable annuity mutual funds included above 25.5 -1.5 -6.1 -32.7 -47.1 -44.4 -42.1 -48.5 -53.5 -33.7 -55.1 15

 Net acquisition of financial assets by investment objective: (2)

 16 Domestic equity funds -45.5 -95.1 -110.2 68.1 -1.0 -102.7 37.1 -166.9 -190.7 -90.2 -65.8 16

 17 World equity funds 77.5 28.2 33.7 169.4 120.0 126.7 115.7 202.1 143.5 45.3 92.5 17

 18 Hybrid funds 56.3 65.4 68.8 95.9 56.7 8.3 57.8 34.6 -25.2 -33.9 -15.5 18

 19 Taxable bond funds 283.7 201.2 330.7 57.8 92.9 34.8 159.4 163.6 -126.7 -57.2 69.4 19

 20 Municipal bonds funds 23.9 0.9 63.2 -45.2 40.8 28.2 48.2 5.2 2.9 56.3 70.8 20

(1) Open-end investment companies including variable annuity mutual funds.

(2) Quarterly figures are reported at annual rates and are not seasonally adjusted.
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F.123 Closed-End and Exchange-Traded Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 Closed-end funds

 1 Net acquisition of financial assets 0.5 -2.9 2.7 -2.6 -10.7 -22.8 -10.7 -3.7 -39.8 -37.0 -18.6 1

 2 Debt securities 5.2 -1.7 11.3 13.5 -3.8 -5.1 -1.5 5.4 -17.0 -7.1 -8.6 2

 3 Treasury securities 0.7 -0.3 0.3 0.6 -0.2 -0.5 -0.4 -0.0 -0.7 -0.7 -0.6 3

 4 Municipal securities 0.4 0.9 3.5 -1.7 0.5 -0.8 -0.6 -2.8 -0.7 0.8 2.2 4

 5 Corporate and foreign bonds 4.1 -2.3 7.5 14.6 -4.1 -3.8 -0.5 8.2 -15.6 -7.2 -10.3 5

 6 Corporate equities -4.7 -1.2 -8.5 -16.1 -6.9 -17.7 -9.2 -9.0 -22.8 -29.9 -10.0 6

 7 Net share issues (liabilities) 0.5 -2.9 2.7 -2.6 -10.7 -22.8 -10.7 -3.7 -39.8 -37.0 -18.6 7

 Exchange-traded funds

 8 Net acquisition of financial assets 118.0 117.6 185.2 179.0 239.2 229.8 220.5 164.2 171.8 362.7 138.1 8

 9 Debt securities 29.7 46.1 52.3 12.2 51.0 55.0 77.1 7.6 86.0 49.0 126.2 9

 10 Treasury securities 9.2 11.4 1.2 -6.5 13.0 14.1 12.2 2.2 58.6 -16.5 40.4 10

 11 Municipal securities 1.7 1.0 3.6 -0.8 3.2 3.9 5.6 2.2 2.0 5.9 7.1 11

 12 Corporate and foreign bonds 18.7 33.6 47.6 19.5 34.8 36.9 59.4 3.2 25.4 59.6 78.7 12

 13 Corporate equities 88.3 71.6 132.9 166.8 188.2 174.9 143.4 156.6 85.8 313.6 11.9 13

 14 Net share issues (liabilities) 118.0 117.6 185.2 179.0 239.2 229.8 220.5 164.2 171.8 362.7 138.1 14
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F.124 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 10.5 8.8 8.4 8.4 7.4 6.1 4.9 6.5 6.6 6.6 6.6 1

 2 Fixed nonresidential investment 3.7 3.4 3.6 4.2 3.5 3.6 3.5 3.6 3.6 3.6 3.5 2

 3 Net acquisition of financial assets -274.1 -205.7 -176.0 104.4 50.2 103.4 -134.8 106.2 144.3 297.9 -87.5 3

 4 Checkable deposits and currency -36.0 9.3 -20.1 29.0 -16.6 -24.0 -46.2 -49.0 24.9 -25.6 -25.2 4

 5 Time and savings deposits 0.3 -12.7 -9.1 1.1 -2.1 -0.7 -5.4 3.7 -0.6 -0.6 3.2 5

 6 Federal funds and security repos 20.7 -38.9 38.6 1.5 10.3 20.8 -17.9 -68.5 31.9 137.9 -89.9 6

 7 Debt securities -72.7 -38.5 -136.7 -94.6 -18.9 -25.3 -25.9 -68.0 -24.1 16.8 -12.0 7

 8 Open market paper 0.2 -3.4 -3.1 1.0 1.5 -0.5 -1.4 -0.1 -2.3 1.9 0.1 8

 9 Treasury securities 45.9 17.6 -31.2 -9.9 5.2 23.2 30.0 -4.1 27.6 39.4 13.5 9

 10 Agency- and GSE-backed securities -85.1 -18.1 -48.3 -22.7 7.8 -14.3 -12.3 -27.4 -17.3 -0.1 5.3 10

 11 Municipal securities -4.2 -3.9 -4.1 -3.5 -2.6 -2.6 -3.6 -3.2 -1.5 -2.2 -2.6 11

 12 Corporate and foreign bonds -29.6 -30.8 -50.0 -59.4 -30.8 -31.1 -38.6 -33.3 -30.6 -22.1 -28.4 12

 13 Loans -215.7 -124.7 -52.8 154.4 88.5 139.1 -79.6 281.9 160.5 193.4 4.5 13

 14 Other loans and advances -144.7 -64.2 18.6 81.9 84.3 74.4 -45.1 140.2 57.0 145.5 13.8 14

 15 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Farm Credit System 7.2 -3.5 8.3 2.9 11.2 8.8 -22.7 22.6 21.1 14.3 -13.8 16

 17 FHLB loans -151.9 -60.7 10.3 79.0 73.1 65.6 -22.4 117.6 35.9 131.2 27.6 17

 18 Mortgages -71.0 -60.5 -71.4 72.5 4.3 64.7 -34.5 141.7 103.5 47.9 -9.4 18

 19 Home -76.4 -66.5 -83.0 89.1 3.0 45.8 -63.1 116.8 101.7 27.9 -20.8 19

 20 Consolidated trusts (2) -192.7 -72.5 -44.9 148.0 28.1 82.6 -69.5 169.3 149.4 81.0 -51.1 20

 21 Other 116.3 5.9 -38.1 -58.9 -25.0 -36.7 6.4 -52.6 -47.6 -53.0 30.3 21

 22 Multifamily residential 2.0 2.8 6.2 -21.9 -2.7 16.1 25.4 22.6 -0.2 16.5 8.7 22

 23 Consolidated trusts (2) 25.3 24.5 27.5 18.9 17.8 21.2 25.0 35.8 9.1 14.8 31.9 23

 24 Other -23.3 -21.7 -21.3 -40.8 -20.5 -5.1 0.4 -13.2 -9.3 1.7 -23.3 24

 25 Farm 3.4 3.3 5.4 5.4 3.9 2.7 3.2 2.3 2.0 3.4 2.8 25

 26 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Miscellaneous assets 29.3 -0.1 4.1 13.1 -11.0 -6.5 40.2 6.2 -48.4 -24.0 31.9 27

 28 Net increase in liabilities -239.7 -210.6 -159.6 96.4 70.0 87.4 -175.3 69.6 145.4 309.9 -83.3 28

 29 Federal funds and security repos 0.1 -0.9 -0.4 0.0 0.1 -0.1 0.1 -0.3 0.5 -0.5 0.0 29

 30 Debt securities (GSE issues) (4) -233.8 -187.2 -154.6 107.5 75.3 93.5 -163.5 93.5 142.1 301.9 -75.6 30

 31 Consolidated trusts (2) -167.4 -48.0 -17.4 166.8 45.9 103.7 -44.5 205.2 158.5 95.8 -19.1 31

 32 Other -66.4 -139.2 -137.2 -59.3 29.4 -10.3 -119.1 -111.7 -16.3 206.1 -56.4 32

 33 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Corporate equities 36.2 26.7 1.5 -1.7 -1.7 -1.4 -7.6 -3.2 -1.4 6.6 -1.8 34

 35 Miscellaneous liabilities -42.2 -49.2 -6.1 -9.4 -3.6 -4.6 -4.2 -20.3 4.2 1.9 -5.9 35

 36 Discrepancy 41.1 0.5 21.3 -3.8 23.7 -13.4 -39.1 -33.6 4.1 15.0 7.3 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 (F.125) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (F.124).

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.125 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 194.2 165.1 130.8 130.8 75.0 126.9 5.1 121.8 185.4 195.4 125.3 1

 2 Home mortgages 182.0 147.9 103.7 97.4 50.8 94.1 -9.1 86.4 158.2 140.9 88.9 2

 3 Multifamily residential mortgages 12.5 19.2 26.9 33.6 24.3 32.2 14.4 35.5 24.1 54.7 36.6 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages -0.2 -2.1 0.3 -0.2 -0.1 0.7 -0.2 -0.1 3.2 -0.1 -0.1 5

 6 Net increase in pool securities (liabilities)(2) 194.2 165.1 130.8 130.8 75.0 126.9 5.1 121.8 185.4 195.4 125.3 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 (F.125) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.124). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
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F.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.3 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 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets -404.5 -200.7 -152.5 -274.7 -50.7 -52.5 41.8 -3.1 -162.9 -85.8 -227.5 3

 4 Debt securities -109.2 -13.5 -5.9 -1.2 5.5 0.9 2.7 3.9 -1.3 -1.8 -4.0 4

 5 Treasury securities -13.2 -10.2 -5.9 -0.9 5.5 1.0 2.7 3.9 -1.3 -1.4 -4.0 5

 6 Agency- and GSE-backed securities (1) -96.0 -3.3 -0.0 -0.2 0.0 -0.1 0.0 0.0 0.0 -0.4 0.0 6

 7 Loans -276.2 -174.6 -139.7 -259.7 -61.1 -57.7 32.1 -3.6 -147.5 -111.8 -225.9 7

 8 Other loans and advances -38.9 -5.4 -0.6 -11.5 9.1 -1.0 45.2 -14.3 -31.2 -3.7 -33.2 8

 9 Mortgages (2) -195.1 -165.0 -142.9 -247.3 -70.8 -52.9 -9.0 -7.9 -99.1 -95.6 -189.4 9

 10 Home -160.8 -120.9 -106.7 -88.1 -57.3 -73.1 -54.1 -78.0 -84.8 -75.5 -66.4 10

 11 Multifamily residential -8.7 -11.9 -11.4 -8.8 -2.4 -6.1 1.6 -10.5 -10.6 -5.0 -23.0 11

 12 Commercial -25.6 -32.2 -24.9 -150.5 -11.1 26.3 43.5 80.5 -3.7 -15.1 -100.0 12

 13 Consumer credit -42.3 -4.1 3.8 -0.8 0.6 -3.8 -4.1 18.7 -17.2 -12.5 -3.4 13

 14 Trade credit -9.5 -4.2 -6.4 -5.4 -4.4 2.7 0.8 2.5 -2.0 9.5 5.8 14

 15 Miscellaneous assets (funding agreements) (3) -9.7 -8.5 -0.4 -8.4 9.2 1.6 6.2 -5.9 -12.2 18.3 -3.4 15

 16 Net increase in liabilities -404.7 -200.7 -152.5 -274.7 -50.7 -52.5 41.8 -3.1 -162.9 -85.8 -227.5 16

 17 Commercial paper -40.3 -24.1 -9.0 -7.1 -15.1 -7.3 2.3 51.2 -54.5 -28.1 42.0 17

 18 Corporate bonds (net) (4) -364.4 -176.6 -143.4 -267.6 -35.6 -45.2 39.6 -54.3 -108.4 -57.7 -269.5 18

 19 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 19

 Memo:

 Securitized assets not included above

 20 Consumer leases (5) -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 REIT assets (6) -0.5 -3.8 1.3 144.5 12.4 -33.0 -23.9 -48.6 -26.1 -33.4 36.1 21

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Funding agreements with life insurance companies.

(4) Net issuance less net acquisition of corporate bonds held as assets.

(5) Receivables from operating leases, such as consumer automobile leases, are 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.

(6) Included in table F.128.
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F.127 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 69.9 102.6 106.6 0.5 97.8 100.8 81.1 110.8 108.0 103.5 93.8 1

 2 Fixed nonresidential investment 39.6 51.2 66.3 78.8 86.9 90.2 89.2 89.3 91.4 91.0 89.0 2

 3 Net acquisition of financial assets -212.8 -17.8 -69.6 -20.4 28.9 -20.2 25.9 -50.9 -74.3 18.3 -65.4 3

 4 Checkable deposits and currency -1.7 5.1 -3.8 4.2 -0.2 0.6 1.9 3.5 3.4 -6.4 15.8 4

 5 Time and savings deposits -5.2 15.4 -11.5 12.7 -0.5 1.8 5.6 10.4 10.2 -19.1 47.3 5

 6 Debt securities (corporate and foreign bonds) -19.8 0.9 -6.3 -10.8 6.0 5.8 8.5 14.2 -5.2 5.6 -6.8 6

 7 Loans -91.7 -45.3 -22.3 -8.2 6.5 -17.7 3.3 -5.1 22.9 -92.0 -71.4 7

 8 Other loans and advances -15.2 3.0 11.2 14.4 10.2 13.6 17.8 20.8 33.0 -17.3 -41.9 8

 9 Mortgages -54.2 -30.9 -25.7 -21.9 -8.7 -28.3 -18.1 -43.0 -28.1 -24.1 -15.3 9

 10 Consumer credit -22.2 -17.4 -7.8 -0.6 5.0 -3.0 3.7 17.1 18.0 -50.6 -14.2 10

 11 U.S. direct investment abroad 6.8 12.0 8.5 -1.4 7.9 3.1 0.0 13.5 9.3 -10.3 5.6 11

 12 Miscellaneous assets -101.2 -5.9 -34.2 -16.9 9.2 -13.8 6.7 -87.4 -115.0 140.4 -55.9 12

 13 Net increase in liabilities -233.1 -26.0 -82.1 -21.6 14.1 -15.1 69.5 -53.9 -63.9 -12.2 -84.8 13

 14 Debt securities -110.9 -29.8 -74.1 -6.1 2.0 -7.3 52.9 -61.7 13.5 -33.9 -12.5 14

 15 Open market paper 1.7 10.0 8.2 -10.3 -1.1 -2.9 -1.6 45.4 -10.3 -45.2 10.3 15

 16 Corporate bonds -112.6 -39.7 -82.2 4.2 3.0 -4.4 54.4 -107.1 23.8 11.3 -22.8 16

 17 Loans -64.0 16.3 17.3 10.3 10.2 15.3 28.6 23.6 -7.7 16.8 15.0 17

 18 Depository institution loans n.e.c. -64.9 15.9 16.4 10.1 10.5 13.7 28.5 23.7 -10.9 13.5 15.0 18

 19 Other loans and advances 0.9 0.4 0.9 0.2 -0.3 1.6 0.1 -0.1 3.2 3.3 0.0 19

 20 Taxes payable 0.3 0.5 0.2 0.1 1.0 0.5 1.7 1.0 0.1 -0.6 -0.7 20

 21 Foreign direct investment in U.S. 13.2 6.1 -3.3 2.3 3.3 -6.4 0.0 -0.3 -28.6 3.2 3.2 21

 22 Miscellaneous liabilities -71.7 -19.1 -22.3 -28.2 -2.5 -17.2 -13.7 -16.5 -41.2 2.4 -89.7 22

 23 Investment by parent -12.8 -12.0 -0.9 -1.0 1.0 -6.7 -12.3 -26.1 -2.5 14.3 -37.3 23

 24 Other -58.8 -7.1 -21.4 -27.1 -3.5 -10.6 -1.3 9.6 -38.6 -11.9 -52.4 24

 25 Discrepancy 9.9 43.2 27.8 -79.5 -3.9 15.8 35.5 18.6 27.0 -17.9 -14.6 25

 Memo:

 26 Consumer leases not included above (2) -16.5 7.9 24.3 23.3 21.6 23.5 17.5 23.4 30.8 22.3 20.8 26

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (5), table F.126.
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F.128 Real Estate Investment Trusts (REITs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving -4.8 -7.3 -9.5 -21.5 -14.7 -19.6 -8.5 -18.8 -26.6 -24.4 -19.7 1

 2 Fixed nonresidential investment 5.8 4.9 6.0 6.9 8.1 8.0 8.1 8.1 8.1 8.0 7.8 2

 3 Multifamily residential investment 4.0 6.5 5.3 15.0 7.8 -0.3 10.9 8.6 -19.1 -1.4 -1.5 3

 4 Net acquisition of financial assets 39.7 131.2 161.0 68.4 45.3 -68.2 -14.1 -76.3 -44.6 -137.9 69.0 4

 5 Checkable deposits and currency -5.7 2.5 7.7 -1.0 4.3 -3.0 0.2 -15.6 16.6 -13.1 6.9 5

 6 Debt securities 45.4 108.5 119.0 -89.7 7.7 -45.9 -14.7 -82.4 -32.1 -54.2 -2.7 6

 7 Agency- and GSE-backed securities 38.2 104.7 109.5 -88.3 8.5 -50.0 -33.5 -84.0 -29.5 -52.8 -1.9 7

 8 Corporate and foreign bonds 7.2 3.8 9.5 -1.4 -0.9 4.1 18.8 1.6 -2.6 -1.4 -0.7 8

 9 Loans (mortgages) -1.3 11.7 8.6 150.4 19.9 -31.2 -26.0 4.1 -45.3 -57.6 42.5 9

 10 Home 0.2 11.0 6.9 5.0 8.5 2.3 -3.8 25.2 0.2 -12.5 6.0 10

 11 Multifamily residential -0.3 -0.2 0.1 2.3 -3.3 -0.6 -1.8 -0.3 0.1 -0.3 0.5 11

 12 Commercial -1.2 0.9 1.5 143.2 14.7 -32.9 -20.5 -20.8 -45.6 -44.7 36.1 12

 13 Miscellaneous assets 1.3 8.5 25.8 8.8 13.4 11.8 26.4 17.6 16.1 -13.0 22.2 13

 14 Net increase in liabilities 62.3 168.0 211.0 154.7 117.7 -1.9 75.4 23.5 14.8 -121.3 98.6 14

 15 Security repurchase agreements 29.9 97.7 102.4 -65.0 10.0 -43.3 -13.0 -52.9 -70.7 -36.7 -7.5 15

 16 Debt securities 1.0 7.6 26.4 176.1 46.9 -12.2 1.0 -8.9 -21.5 -19.3 85.5 16

 17 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds 1.0 7.6 26.4 176.1 46.9 -12.2 1.0 -8.9 -21.5 -19.3 85.5 18

 19 Loans -0.9 18.1 9.1 19.5 21.3 28.6 37.6 45.9 57.3 -26.2 -30.1 19

 20 Depository institution loans n.e.c. -1.8 4.6 4.0 -1.1 7.2 7.2 15.6 22.9 6.6 -16.2 -5.8 20

 21 Other loans and advances 0.0 0.0 0.3 0.7 4.9 17.9 5.6 9.7 36.9 19.5 -16.2 21

 22 Mortgages 0.8 13.5 4.8 19.9 9.3 3.5 16.4 13.3 13.8 -29.5 -8.0 22

 23 Corporate equity issues 28.2 37.5 47.6 46.2 32.7 27.1 53.9 33.1 8.1 13.3 28.6 23

 24 Miscellaneous liabilities 4.1 7.1 25.4 -22.1 6.9 -2.1 -4.1 6.3 41.6 -52.4 22.1 24

 25 Discrepancy 7.9 18.1 29.2 42.8 41.9 39.0 62.1 64.4 43.9 -14.4 3.7 25

 Memo:

 26 Securitized assets included above -0.5 -3.8 1.3 144.5 12.4 -33.0 -23.9 -48.6 -26.1 -33.4 36.1 26

 27 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Home mortgages 1.1 -0.7 3.7 9.7 3.2 7.7 2.8 11.0 17.9 -1.0 -3.4 28

 29 Multifamily residential mortgages -0.0 -0.0 -0.0 2.7 0.3 -0.5 -2.1 -0.2 0.4 0.0 0.0 29

 30 Commercial mortgages -1.6 -3.0 -2.4 132.2 8.8 -40.2 -24.6 -59.4 -44.4 -32.4 39.5 30

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.128.e and F.128.m.
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F.128.e Equity Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets -0.8 8.1 14.1 20.3 15.7 6.3 30.5 -7.7 26.1 -23.6 15.9 1

 2 Checkable deposits and currency -4.1 -2.3 4.1 2.3 3.0 -2.3 -2.1 -12.9 11.4 -5.5 1.5 2

 3 Debt securities (corporate and foreign bonds) 0.4 -0.6 -0.2 0.1 0.5 -1.0 2.9 -4.5 -1.3 -1.2 -0.7 3

 4 Loans (mortgages) 0.4 2.9 1.6 2.4 2.6 0.1 0.4 1.4 2.1 -3.7 -4.7 4

 5 Home 0.0 0.1 0.0 0.0 0.0 0.0 0.2 -0.1 0.0 -0.0 0.0 5

 6 Multifamily residential 0.0 -0.0 0.1 -0.0 -0.1 0.1 0.0 -0.0 0.2 0.1 0.1 6

 7 Commercial 0.3 2.9 1.5 2.4 2.7 -0.0 0.2 1.6 2.0 -3.8 -4.8 7

 8 Miscellaneous assets 2.6 8.1 8.5 15.5 9.7 9.6 29.3 8.4 13.9 -13.2 19.7 8

 9 Net increase in liabilities -0.4 37.4 38.5 56.2 49.6 44.1 64.3 74.1 70.7 -32.6 9.5 9

 10 Debt securities (corporate bonds) 1.0 13.2 27.6 34.0 28.8 30.1 29.1 32.6 38.7 20.1 22.0 10

 11 Loans -0.9 19.5 6.3 19.7 15.5 10.5 33.3 33.2 20.8 -45.2 -11.3 11

 12 Depository institution loans n.e.c. -1.8 6.1 1.4 -0.2 6.2 7.0 16.9 19.9 6.9 -15.7 -3.2 12

 13 Mortgages 0.8 13.5 4.8 19.9 9.3 3.5 16.4 13.3 13.8 -29.5 -8.0 13

 14 Multifamily residential 0.4 0.1 -1.1 3.0 1.4 -0.9 3.1 3.2 -4.2 -5.6 0.1 14

 15 Commercial 0.4 13.3 6.0 16.9 7.9 4.4 13.2 10.1 18.0 -23.9 -8.1 15

 16 Miscellaneous liabilities -0.5 4.6 4.6 2.5 5.3 3.5 1.9 8.3 11.3 -7.5 -1.2 16

F.128.m Mortgage Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 40.5 123.1 146.9 48.1 29.5 -74.6 -44.6 -68.7 -70.8 -114.2 53.1 1

 2 Checkable deposits and currency -1.6 4.8 3.6 -3.3 1.3 -0.7 2.3 -2.7 5.2 -7.5 5.4 2

 3 Debt securities 45.0 109.1 119.2 -89.9 7.2 -44.8 -17.6 -77.9 -30.8 -53.0 -2.0 3

 4 Agency- and GSE-backed securities 38.2 104.7 109.5 -88.3 8.5 -50.0 -33.5 -84.0 -29.5 -52.8 -1.9 4

 5 Corporate and foreign bonds 6.8 4.4 9.7 -1.6 -1.4 5.1 15.9 6.1 -1.3 -0.2 -0.1 5

 6 Loans (mortgages) -1.7 8.8 6.9 148.0 17.3 -31.3 -26.5 2.7 -47.4 -53.9 47.2 6

 7 Home 0.1 10.9 6.8 5.0 8.5 2.3 -4.0 25.3 0.2 -12.5 5.9 7

 8 Multifamily residential -0.3 -0.2 0.1 2.3 -3.2 -0.6 -1.8 -0.2 -0.0 -0.4 0.4 8

 9 Commercial -1.5 -1.9 -0.0 140.8 12.0 -32.9 -20.7 -22.4 -47.6 -40.9 40.9 9

 10 Miscellaneous assets -1.2 0.4 17.2 -6.7 3.7 2.2 -2.9 9.2 2.2 0.2 2.6 10

 11 Net increase in liabilities 34.4 93.1 124.9 52.2 35.4 -73.1 -42.8 -83.6 -64.0 -102.0 60.5 11

 12 Security repurchase agreements 29.9 97.7 102.4 -65.0 10.0 -43.3 -13.0 -52.9 -70.7 -36.7 -7.5 12

 13 Debt securities -0.0 -5.7 -1.2 142.1 18.1 -42.3 -28.1 -41.5 -60.2 -39.4 63.5 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds -0.0 -5.7 -1.2 142.1 18.1 -42.3 -28.1 -41.5 -60.2 -39.4 63.5 15

 16 Loans -0.0 -1.5 2.8 -0.2 5.8 18.1 4.3 12.7 36.5 19.0 -18.8 16

 17 Depository institution loans n.e.c. -0.0 -1.5 2.5 -0.9 1.0 0.2 -1.3 3.0 -0.4 -0.5 -2.6 17

 18 Other loans and advances 0.0 0.0 0.3 0.7 4.9 17.9 5.6 9.7 36.9 19.5 -16.2 18

 19 Miscellaneous liabilities 4.6 2.5 20.9 -24.6 1.5 -5.6 -6.0 -1.9 30.4 -44.9 23.3 19

 Memo:

 20 Securitized assets included above -0.5 -3.8 1.3 144.5 12.4 -33.0 -23.9 -48.6 -26.1 -33.4 36.1 20

 21 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Home mortgages 1.1 -0.7 3.7 9.7 3.2 7.7 2.8 11.0 17.9 -1.0 -3.4 22

 23 Multifamily residential mortgages -0.0 -0.0 -0.0 2.7 0.3 -0.5 -2.1 -0.2 0.4 0.0 0.0 23

 24 Commercial mortgages -1.6 -3.0 -2.4 132.2 8.8 -40.2 -24.6 -59.4 -44.4 -32.4 39.5 24
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F.129 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 25.8 6.3 23.4 19.5 15.5 7.7 16.7 5.1 4.0 5.0 4.5 1

 2 Fixed nonresidential investment 17.9 16.1 13.2 14.4 15.2 15.8 15.7 15.8 15.9 15.9 15.8 2

 3 Net acquisition of financial assets 234.4 29.1 173.7 -298.1 -153.7 -210.7 97.2 -124.3 23.6 -839.2 190.8 3

 4 Checkable deposits and currency 6.2 14.9 16.3 -16.5 0.0 -5.7 23.6 -14.3 5.8 -37.9 19.3 4

 5 Security repurchase agreements 243.4 154.6 55.1 -317.2 -168.2 -19.5 -55.8 129.6 289.7 -441.5 -71.9 5

 6 Debt securities 44.9 -1.3 103.9 -186.3 -89.2 -36.7 41.9 -52.3 31.3 -167.5 -3.3 6

 7 Open market paper -5.3 5.9 -12.2 -1.3 -7.8 -1.4 3.4 -8.2 -0.4 -0.3 3.2 7

 8 Treasury securities -28.5 89.1 63.0 -110.5 -75.9 5.1 25.6 -28.8 114.0 -90.2 104.6 8

 9 Agency- and GSE-backed securities 38.9 -2.1 21.9 -55.4 7.7 -12.2 9.5 4.9 -11.0 -52.1 -28.7 9

 10 Municipal securities 4.6 -9.1 -4.3 -8.0 0.2 -4.9 7.1 -6.7 -12.3 -7.8 19.3 10

 11 Corporate and foreign bonds 35.2 -85.0 35.5 -11.1 -13.5 -23.3 -3.7 -13.5 -59.0 -17.1 -101.8 11

 12 Loans (other loans and advances) 62.5 -32.4 50.1 46.3 38.5 -90.1 -84.8 34.6 -297.4 -12.8 -78.5 12

 13 Corporate equities -18.5 -5.0 9.7 18.6 8.7 -10.3 -103.9 11.2 -22.7 74.0 -124.1 13

 14 U.S. direct investment abroad 8.7 4.9 7.3 11.7 7.2 8.8 5.5 19.3 8.5 1.8 6.8 14

 15 Miscellaneous assets -112.9 -106.6 -68.7 145.2 49.3 -57.2 270.6 -252.4 8.4 -255.3 442.6 15

 16 Net increase in liabilities 220.4 69.4 126.5 -336.3 -166.1 -188.0 112.6 -116.8 98.2 -845.9 220.3 16

 17 Security repurchase agreements 195.9 70.5 131.2 -439.3 -220.9 -179.4 -49.8 -219.8 53.7 -501.7 -8.9 17

 18 Debt securities (corporate bonds) 36.9 -37.9 -1.7 22.2 11.5 7.4 -65.9 113.5 -1.6 -16.4 -47.3 18

 19 Loans 29.8 31.9 32.8 68.9 65.4 -49.3 7.7 -101.6 -16.5 -86.7 156.6 19

 20 Depository institution loans n.e.c. (1) 6.2 31.0 -9.2 10.4 12.0 -1.0 1.4 6.0 -20.7 9.3 -3.2 20

 21 Other loans and advances 23.5 0.9 42.0 58.5 53.5 -48.3 6.3 -107.7 4.2 -96.1 159.8 21

 22 Corporate equity issues -11.1 14.1 -50.7 -31.0 -11.7 3.5 10.5 -9.7 39.0 -25.7 24.2 22

 23 Trade payables -52.0 -3.8 -0.0 0.3 3.4 8.4 5.0 17.7 2.4 8.4 -4.1 23

 24 Taxes payable -2.1 -1.1 0.5 0.6 0.3 -0.8 3.3 -2.5 -0.7 -3.4 3.4 24

 25 Foreign direct investment in U.S. 13.2 18.2 15.4 6.2 3.7 17.3 7.1 19.4 30.2 12.4 19.7 25

 26 Miscellaneous liabilities 9.0 -19.4 -7.7 41.3 -19.9 1.9 195.8 68.9 -33.6 -223.4 81.1 26

 27 Investment by parent companies -51.2 40.4 71.3 71.7 27.9 113.9 34.9 164.1 73.5 183.3 206.2 27

 28 Other 60.2 -59.8 -79.0 -30.4 -47.8 -112.0 161.0 -95.2 -107.1 -406.7 -125.1 28

 29 Proprietors’ net investment 0.9 -2.9 6.7 -5.6 2.0 3.0 -1.1 -2.7 25.3 -9.4 -4.4 29

 30 Discrepancy -6.0 30.5 -37.0 -33.0 -12.2 14.6 16.4 -3.2 62.6 -17.6 18.2 30

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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F.130 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 94.6 130.8 162.4 146.3 172.8 197.1 152.9 219.6 187.4 228.4 137.5 1

 2 Fixed nonresidential investment 31.9 37.0 41.1 39.4 41.9 43.5 43.1 43.4 43.7 43.8 43.6 2

 3 Net acquisition of financial assets -11.0 68.7 -124.1 180.5 91.2 -72.8 -122.2 151.7 -195.0 -125.7 236.3 3

 4 Time and savings deposits -1.3 2.4 -0.3 1.5 -8.9 -7.9 27.0 8.8 -36.3 -31.1 1.7 4

 5 Security repurchase agreements 2.1 0.2 -49.3 -2.8 -5.1 -0.4 12.9 7.3 -14.5 -7.3 3.4 5

 6 Debt securities 17.9 -0.9 -66.8 15.9 -0.2 -20.6 -22.0 1.7 18.0 -80.3 -9.9 6

 7 Treasury securities 13.8 7.1 -30.6 8.5 -2.8 -3.7 -14.4 -5.5 16.3 -11.1 -0.6 7

 8 Agency- and GSE-backed securities -3.2 12.0 -24.3 9.6 0.0 -4.3 12.2 -5.5 2.8 -26.7 -7.8 8

 9 Corporate and foreign bonds 7.3 -20.1 -11.9 -2.1 2.6 -12.7 -19.8 12.8 -1.2 -42.5 -1.5 9

 10 Loans (other loans and advances) 4.3 4.0 16.7 -14.2 -10.9 -40.9 -9.9 -28.9 -69.7 -54.9 -3.0 10

 11 Life insurance reserves 3.8 2.4 7.3 5.1 5.0 4.1 4.2 4.0 4.0 4.0 4.0 11

 12 Miscellaneous assets -37.7 60.6 -31.8 175.0 111.2 -7.1 -134.5 158.8 -96.4 43.9 240.0 12

 13 Net trans. with depository institution subs. 33.4 76.1 101.2 59.2 195.9 38.1 -81.7 115.4 76.7 42.0 147.0 13

 14 Net trans. with property-casualty ins. co. subs. 0.0 0.0 -6.8 -6.0 0.1 -0.8 -5.5 2.8 0.8 -1.1 -2.1 14

 15 Net trans. with life insurance company subs. 22.2 9.3 10.3 -1.6 0.8 0.5 1.1 0.2 0.9 -0.2 3.5 15

 16 Net trans. with finance company subs. -39.5 -20.3 -3.5 -15.8 -13.1 -2.6 -4.7 -10.0 -1.0 5.5 -14.3 16

 17 Net trans. with broker and dealer subs. -24.3 -13.0 52.3 56.2 4.8 77.8 -67.1 220.8 17.8 139.6 87.9 17

 18 Net trans. with foreign subs. 10.6 30.6 -51.5 -16.9 -14.6 5.9 34.9 -47.1 51.8 -16.0 8.2 18

 19 Other -40.1 -22.2 -133.7 99.9 -62.7 -126.0 -11.4 -123.3 -243.4 -125.9 9.6 19

 20 Net increase in liabilities -45.1 -46.5 -198.4 38.0 -40.1 -224.6 -208.6 -11.5 -394.9 -283.5 137.5 20

 21 Security repurchase agreements 0.2 0.4 -1.2 -0.0 -0.0 0.1 0.1 0.1 0.1 0.0 -0.1 21

 22 Debt securities -42.6 -80.4 20.3 -15.8 8.0 -49.4 -45.4 15.4 -44.4 -123.0 119.4 22

 23 Commercial paper 3.9 11.1 6.2 -19.9 -19.6 -71.3 -28.0 -54.8 -161.1 -41.4 -0.3 23

 24 Corporate bonds -46.5 -91.6 14.1 4.1 27.6 22.0 -17.5 70.2 116.7 -81.6 119.7 24

 25 Loans (depository institution loans n.e.c.) 26.1 64.0 -120.2 13.8 -16.3 -38.7 -9.9 -16.6 -35.1 -93.2 18.9 25

 26 Corporate equity issues 19.8 2.9 0.6 -17.1 -0.3 -6.5 48.9 2.0 -50.4 -26.4 -15.5 26

 27 Miscellaneous liabilities -48.7 -33.3 -97.9 57.1 -31.4 -130.2 -202.3 -12.4 -265.1 -41.0 14.7 27

 28 Equity, etc. -22.4 6.9 -29.1 -9.0 -0.3 -57.7 -165.3 39.4 -39.5 -65.3 41.8 28

 29 Other -26.3 -40.2 -68.9 66.1 -31.2 -72.5 -36.9 -51.9 -225.6 24.3 -27.0 29

 30 Discrepancy 28.6 -21.4 47.1 -35.6 -0.4 1.7 23.4 13.0 -56.2 26.8 -4.9 30

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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F.131 Funding Corporations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets -176.5 -195.8 -86.3 -69.3 11.2 137.0 127.2 32.5 205.9 182.2 477.6 1

 2 Money market fund shares -148.0 -83.4 -62.4 -61.5 13.4 27.5 139.1 -67.6 47.6 -9.2 106.7 2

 3 Security repurchase agreements 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities 30.1 -103.7 -24.5 -18.3 -6.6 70.3 -84.0 103.2 101.7 160.5 147.1 4

 5 Open market paper 39.9 -46.0 18.5 -23.7 -11.3 71.7 -98.0 124.1 83.9 176.8 115.5 5

 6 Corporate and foreign bonds -9.8 -57.7 -43.1 5.3 4.7 -1.4 13.9 -20.9 17.8 -16.3 31.5 6

 7 Loans (other loans and advances) -1.5 -2.0 -6.5 -2.3 1.5 0.8 -1.9 2.1 4.0 -0.9 18.6 7

 8 Corporate equities (2) 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets -58.4 19.6 7.2 13.0 2.8 38.3 74.1 -5.1 52.7 31.8 205.1 9

 10 Investment in foreign banking offices -31.5 -33.7 -11.8 -2.5 -20.3 2.2 -27.9 51.6 -3.1 -11.9 86.9 10

 11 Investment in brokers and dealers -26.9 53.4 19.0 15.5 23.1 36.2 102.0 -56.7 55.7 43.7 118.2 11

 12 Net increase in liabilities -176.5 -195.8 -86.3 -69.3 11.2 137.0 127.2 32.5 205.9 182.2 477.6 12

 13 Debt securities -50.6 -1.2 4.4 27.7 25.8 65.9 25.0 37.3 141.8 59.6 140.4 13

 14 Open market paper -47.4 -72.7 -30.9 16.2 3.6 39.7 -74.5 117.2 106.5 9.6 59.3 14

 15 Corporate bonds -3.2 71.6 35.3 11.4 22.2 26.3 99.5 -79.9 35.3 50.0 81.0 15

 16 Loans -14.8 -51.2 -28.3 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Depository institution loans n.e.c. (3) -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other loans and advances (4) 7.2 0.7 -6.8 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Corporate equities (5) 3.5 -18.4 -8.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Foreign direct investment in U.S. 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 20

 21 Miscellaneous liabilities -115.2 -125.7 -54.4 -96.9 -15.2 70.4 101.6 -5.4 63.5 122.0 336.6 21

 22 Securities loaned (net) -123.5 -74.6 -79.2 94.0 47.1 -13.8 139.1 -209.3 177.7 -162.6 315.3 22

 23 Equity interest under PPIP 7.9 1.0 -6.8 -3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other (net) 0.3 -52.1 31.7 -187.4 -62.3 84.2 -37.4 203.8 -114.2 284.6 21.3 24

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities, and funds associated with

 the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
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F.132 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Foreign income from U.S. 3115.5 3485.8 3582.1 3616.9 3742.5 3687.8 3687.9 3697.1 3722.3 3643.7 3648.6 1

 2 U.S. imports 2365.0 2686.4 2763.8 2771.7 2871.9 2782.3 2808.9 2799.3 2790.2 2730.9 2679.8 2

 3 U.S. income payments to rest of world 514.1 546.0 563.9 575.8 591.2 616.9 589.5 614.7 637.6 625.7 669.5 3

 4 Curr. taxes and trans. payments to rest of world 236.4 253.4 254.3 269.5 279.4 288.5 289.4 283.1 294.5 287.1 299.3 4

 5 Foreign outlays to U.S. 2669.6 3004.2 3113.9 3221.2 3341.3 3222.8 3213.2 3271.6 3235.0 3171.3 3125.6 5

 6 U.S. exports 1852.3 2106.4 2198.2 2263.3 2341.9 2253.4 2257.3 2280.0 2259.8 2216.6 2173.0 6

 7 U.S. income receipts from rest of world 720.0 792.6 801.5 826.2 854.3 830.5 817.0 845.3 841.2 818.4 814.5 7

 8 Curr. taxes and trans. payments from rest of world 97.2 105.2 114.2 131.7 145.1 138.9 138.9 146.2 134.0 136.3 138.1 8

 9 - Net capital transfers paid (1) -0.7 -1.6 6.5 -0.8 -0.4 -0.4 -0.4 -0.5 -0.4 -0.3 -0.4 9

 10 Gross saving less net capital transfers paid (2) 446.6 483.2 461.6 396.6 401.6 465.4 475.1 426.1 487.6 472.8 523.4 10

 11 Gross investment 268.2 416.7 462.8 373.4 315.1 133.6 -258.8 635.0 -280.4 438.4 164.6 11

 12 Nonproduced nonfinancial assets -0.0 -0.0 -0.1 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 12

 13 Net lending (+) or net borrowing (-) 268.2 416.7 462.8 373.4 315.1 133.6 -258.8 635.0 -280.4 438.4 164.6 13

 14 Net acquisition of financial assets 1087.5 1049.7 851.2 1155.8 1119.5 462.4 1172.5 1202.8 -372.5 -153.1 667.4 14

 15 Monetary gold (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Net interbank assets -61.8 213.9 -136.0 312.2 30.9 -90.2 -11.2 -119.5 -73.5 -156.7 -197.7 17

 18 U.S. checkable deposits and currency 29.5 81.8 68.2 50.9 82.8 31.0 66.6 -11.8 20.6 48.5 79.3 18

 19 U.S. time deposits 4.9 47.3 38.0 52.5 54.2 -22.2 29.9 -59.3 -69.2 9.9 120.1 19

 20 Money market fund shares -7.1 4.6 22.6 11.3 5.1 1.3 -13.3 -4.9 8.7 14.5 0.7 20

 21 Security repurchase agreements 92.4 92.6 -6.9 35.3 105.4 -142.5 -51.5 -273.9 82.2 -326.7 194.0 21

 22 Debt securities 639.4 203.6 495.7 547.7 534.3 439.6 168.0 1343.8 -438.8 685.3 322.7 22

 23 Open market paper -10.7 0.7 -0.1 -1.7 7.6 -3.4 45.3 -23.1 -48.3 12.7 -21.4 23

 24 Treasury securities 740.4 355.3 589.7 424.9 317.4 56.4 -139.2 577.7 -459.3 246.5 117.0 24

 25 Treasury bills -40.2 -62.6 14.0 23.3 -13.3 52.3 135.8 112.8 -128.7 89.1 14.2 25

 26 Other Treasury securities 780.5 417.9 575.8 401.6 330.7 4.2 -275.0 464.9 -330.6 157.3 102.8 26

 27 Agency- and GSE-backed securities -66.6 -41.6 -73.6 -83.7 -5.2 26.7 -59.8 141.9 -32.9 57.7 40.7 27

 28 Municipal securities 13.1 0.6 -0.6 4.3 4.3 6.8 8.3 11.6 2.4 4.8 8.1 28

 29 U.S. corporate bonds (4) -36.8 -111.5 -19.7 203.9 210.1 353.0 313.4 635.8 99.3 363.7 178.3 29

 30 Loans to U.S. corporate business -20.2 33.9 -52.2 -4.2 30.9 23.3 34.9 18.7 32.2 7.3 32.2 30

 31 U.S. corporate equities 130.9 48.1 137.0 -62.4 117.3 -168.2 40.7 -129.4 -26.0 -558.1 -109.8 31

 32 Mutual fund shares 55.2 70.7 79.5 -16.4 32.7 -4.3 102.4 75.0 -104.2 -90.5 17.2 32

 33 Trade receivables 18.6 17.1 11.6 12.3 14.3 9.9 8.7 10.0 20.5 0.5 0.8 33

 34 Foreign direct investment in U.S. (5) 205.9 236.1 193.8 216.6 111.6 384.8 797.1 354.0 175.0 213.0 207.9 34

 35 Net increase in liabilities 819.3 633.0 388.3 782.4 804.4 328.9 1431.3 567.8 -92.1 -591.5 502.9 35

 36 U.S. official reserve assets 1.8 15.9 4.5 -3.1 -3.6 -6.3 -16.6 -3.5 -1.1 -4.0 3.2 36

 37 U.S. private deposits 71.6 -215.0 -147.5 26.7 -114.3 -232.3 -92.8 -277.2 -264.9 -294.3 -270.6 37

 38 Security repurchase agreements 207.9 96.4 40.2 -84.0 26.4 46.6 211.1 -70.7 337.4 -291.2 264.8 38

 39 Debt securities 124.7 128.2 159.0 202.8 108.8 -1.1 270.6 116.1 -220.6 -170.6 -19.8 39

 40 Commercial paper -2.7 -53.5 27.9 34.0 -21.4 59.3 142.5 -17.3 52.7 59.2 68.6 40

 41 Bonds 127.4 181.7 131.2 168.9 130.2 -60.4 128.1 133.4 -273.3 -229.8 -88.3 41

 42 Loans 24.3 44.6 36.0 40.5 31.4 23.8 43.0 46.8 -2.7 8.0 5.0 42

 43 Depository institution loans n.e.c. 24.0 43.2 30.4 39.1 28.6 22.7 41.0 44.0 -6.0 11.8 5.6 43

 44 Other loans and advances 0.3 1.4 5.6 1.4 2.8 1.1 2.1 2.7 3.3 -3.8 -0.7 44

 45 Foreign corporate equities (6) 79.2 7.0 95.8 284.3 436.5 172.5 674.9 469.0 -245.7 -208.2 191.6 45

 46 Trade payables 6.0 4.0 0.7 9.8 -6.8 -2.0 -7.2 -2.5 3.6 -1.7 10.2 46

 47 U.S. direct investment abroad (4,5) 301.1 419.1 339.7 328.6 336.9 320.0 307.5 337.6 249.9 385.2 313.7 47

 48 Miscellaneous liabilities 2.7 132.9 -140.0 -23.3 -11.0 7.6 40.8 -47.8 52.1 -14.7 4.8 48

 49 U.S. equity in IBRD, etc. 2.3 2.6 2.4 2.2 2.3 2.2 8.7 0.0 0.2 0.0 0.0 49

 50 Nonofficial foreign currencies -10.2 99.7 -90.9 -8.6 1.3 -0.5 -2.9 -0.7 0.2 1.3 -3.4 50

 51 Investment by holding companies 10.6 30.6 -51.5 -16.9 -14.6 5.9 34.9 -47.1 51.8 -16.0 8.2 51

 52 Discrepancy (FOF basis) 178.4 66.5 -1.2 23.2 86.5 331.8 733.9 -208.9 768.1 34.4 358.8 52

 Memo:

 53 Net U.S. exports, NIPA basis -512.7 -580.0 -565.7 -508.4 -530.0 -528.9 -551.6 -519.3 -530.4 -514.3 -506.8 53

 54 + Net U.S. income receipts (7) 206.0 246.6 237.6 250.4 263.1 213.6 227.5 230.6 203.6 192.7 145.0 54

 55 - Curr. taxes and trans. payments to rest of world 236.4 253.4 254.3 269.5 279.4 288.5 289.4 283.1 294.5 287.1 299.3 55

 56 + Curr. taxes and trans. payments from rest of world 97.2 105.2 114.2 131.7 145.1 138.9 138.9 146.2 134.0 136.3 138.1 56

 57 = Balance on current account, NIPAs -445.9 -481.5 -468.2 -395.8 -401.1 -465.0 -474.7 -425.6 -487.2 -472.4 -523.0 57

(1) Table F.5, 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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48 Z.1, June 9, 2016

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 1.8 15.9 4.5 -3.1 -3.6 -6.3 -16.6 -3.5 -1.1 -4.0 3.2 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 0.0 2

 3 Rest of the world 1.8 15.9 4.5 -3.1 -3.6 -6.3 -16.6 -3.5 -1.1 -4.0 3.2 3

 4 SDR holdings 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserve position in IMF 1.3 18.1 4.0 -3.4 -3.8 -6.5 -16.8 -3.7 -1.3 -4.2 2.9 5

 6 Other reserves 0.5 -0.5 0.4 0.3 0.2 0.2 0.1 0.2 0.2 0.2 0.2 6

 7 Net change in assets 1.8 15.9 4.5 -3.1 -3.6 -6.3 -16.6 -3.5 -1.1 -4.0 3.2 7

 8 Federal government 1.6 16.2 4.3 -3.3 -3.8 -6.4 -16.7 -3.6 -1.2 -4.0 3.6 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Reserve position in IMF 1.3 18.2 4.0 -3.4 -3.9 -6.5 -16.8 -3.7 -1.3 -4.2 3.4 11

 12 Other reserves 0.3 -0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 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 0.0 13

 14 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Monetary authority 0.3 -0.3 0.2 0.2 0.2 0.1 0.1 0.1 0.2 0.1 -0.4 16

 17 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Reserve position in IMF 0.0 -0.1 0.0 0.0 0.1 0.0 -0.0 0.0 0.1 -0.0 -0.5 18

 19 Other reserves 0.3 -0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 Liab: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government -0.3 0.0 0.0 -0.4 -0.3 -0.0 0.0 0.0 0.0 -0.0 0.0 3

 4 Asset: Monetary authority 0.9 0.7 0.6 0.7 0.8 1.3 1.5 1.3 1.3 1.0 0.6 4

 5 Discrepancy (seigniorage) -1.1 -0.7 -0.6 -1.1 -1.1 -1.3 -1.5 -1.3 -1.3 -1.0 -0.6 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total rest of the world liability 71.6 -215.0 -147.5 26.7 -114.3 -232.3 -92.8 -277.2 -264.9 -294.3 -270.6 1

 Held by:

 2 Household sector 4.5 -9.9 -7.9 2.3 -6.4 -14.8 -6.1 -18.8 -15.9 -18.5 -20.8 2

 3 Nonfinancial corporate business 9.1 -5.8 0.6 42.1 -8.9 -19.6 -69.5 20.8 -32.8 2.9 -3.1 3

 4 Money market mutual funds 8.9 -64.2 0.3 -9.8 -9.8 -13.4 -16.1 8.0 -39.7 -6.0 26.0 4

 5 Discrepancy--unallocated assets 49.0 -135.1 -140.4 -7.8 -89.3 -184.4 -1.0 -287.2 -176.5 -272.7 -272.6 5
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F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -142.8 820.5 -194.5 1129.1 115.3 -501.4 521.3 -1061.8 -349.9 -1115.2 672.6 1

 2 Monetary authority -11.1 602.3 -64.1 760.6 131.0 -402.3 245.2 -773.7 -177.5 -903.1 616.9 2

 3 U.S.-chartered depository institutions -201.3 -263.4 -114.2 191.0 54.5 -53.0 351.8 -498.1 -265.3 199.6 82.5 3

 4 Foreign banking offices in U.S. 30.7 504.6 -1.9 175.1 -70.3 -48.7 -123.3 250.7 109.5 -431.6 -57.2 4

 5 Banks in U.S.-affiliated areas 0.9 -1.2 -0.4 0.2 -0.6 0.2 -1.7 -1.9 3.2 1.4 -2.8 5

 6 Credit unions 38.1 -21.9 -13.8 2.2 0.7 2.3 49.3 -38.8 -19.8 18.6 33.3 6

 7 Net change in assets -168.7 817.0 -200.1 1072.3 162.4 -492.0 232.9 -891.4 -249.3 -1060.1 414.4 7

 8 Monetary authority -95.7 0.8 0.0 -0.5 0.5 0.5 -1.2 1.8 1.6 -0.3 -4.8 8

 9 U.S.-chartered depository institutions -87.8 231.0 6.9 456.9 192.7 -209.3 255.6 -792.8 -106.4 -193.7 328.9 9

 10 Foreign banking offices in U.S. 66.7 360.2 -72.2 309.3 -59.3 -198.5 -66.0 57.6 -62.2 -723.2 235.6 10

 11 Credit unions 10.0 11.1 1.2 -5.7 -2.5 5.5 55.6 -38.4 -8.9 13.8 52.5 11

 12 Rest of the world -61.8 213.9 -136.0 312.2 30.9 -90.2 -11.2 -119.5 -73.5 -156.7 -197.7 12

 13 Discrepancy 25.8 3.5 5.7 56.8 -47.1 -9.4 288.4 -170.4 -100.6 -55.0 258.2 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority -2.2 8.1 7.1 2.6 2.0 -1.4 8.1 5.6 1.8 -21.2 24.1 14

 15 Asset: U.S.-chartered depository institutions -2.2 8.1 7.1 2.5 2.0 -1.4 8.2 5.6 1.8 -21.2 24.1 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 -0.0 -0.2 -0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority -8.9 594.2 -71.2 758.0 128.9 -400.8 237.1 -779.3 -179.2 -882.0 592.8 17

 18 Asset: U.S.-chartered depository institutions -85.6 222.9 -0.2 454.4 190.7 -207.9 247.4 -798.4 -108.1 -172.5 304.7 18

 19 Foreign banking offices in U.S. 66.7 360.2 -72.2 309.3 -59.3 -198.4 -65.8 57.6 -62.2 -723.2 235.6 19

 20 Credit unions 10.0 11.1 1.2 -5.7 -2.5 5.5 55.6 -38.4 -8.9 13.8 52.5 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions -95.7 0.8 0.0 -0.5 0.5 0.5 -1.2 1.8 1.6 -0.3 -4.8 21

 22 Asset: Monetary authority -95.7 0.8 0.0 -0.5 0.5 0.5 -1.2 1.8 1.6 -0.3 -4.8 22

 23 Federal Reserve float 0.7 0.8 0.1 -0.5 0.4 0.5 -0.8 1.3 1.3 0.2 -4.6 23

 24 Loans -96.4 -0.0 -0.1 0.0 0.1 -0.0 -0.4 0.5 0.3 -0.5 -0.2 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) -78.4 -309.3 -87.8 153.5 102.3 -39.9 131.4 -380.6 -181.8 271.5 -133.3 25

 26 Due to foreign affiliates 21.5 -222.2 -199.0 103.7 16.2 -26.1 46.7 -249.4 -139.1 237.5 -139.4 26

 27 - Due from foreign affiliates 99.9 87.1 -111.1 -49.8 -86.2 13.8 -84.7 131.2 42.8 -34.0 -6.1 27

 28 Foreign banking offices in U.S. (net) 37.0 512.1 -51.6 157.9 -67.2 -53.1 -143.0 265.3 79.8 -414.4 -88.7 28

 29 Due to foreign affiliates 53.8 296.7 -90.0 143.3 -123.8 -138.2 -156.0 0.0 -36.7 -360.1 -156.8 29

 30 - Due from foreign affiliates 16.8 -215.4 -38.3 -14.6 -56.6 -85.1 -13.0 -265.3 -116.6 54.3 -68.1 30

 31 Less: Deposits at foreign banks 13.6 -12.4 -2.6 -0.3 1.4 -2.7 -6.4 -3.3 -4.6 3.5 4.2 31

 32 U.S.-chartered depository institutions 6.9 -4.0 -3.3 0.4 0.8 -2.6 0.2 -9.3 -2.5 1.3 1.8 32

 33 Foreign banking offices in U.S. 6.6 -8.4 0.7 -0.8 0.7 -0.1 -6.6 6.0 -2.1 2.1 2.4 33

 34 Plus: Loans from foreign banks -6.8 -1.3 0.8 0.5 -2.8 0.0 -6.0 -7.5 23.9 -10.3 28.5 34

 35 U.S.-chartered depository institutions -3.4 0.4 -0.2 -0.1 -2.3 0.8 -0.5 -3.2 13.9 -7.0 11.8 35

 36 Foreign banking offices in U.S. -3.4 -1.7 1.1 0.5 -0.5 -0.7 -5.5 -4.3 10.0 -3.2 16.8 36

 37 Asset: Rest of the world (1) -61.8 213.9 -136.0 312.2 30.9 -90.2 -11.2 -119.5 -73.5 -156.7 -197.7 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) -16.8 40.8 -29.5 38.5 -45.3 -16.9 222.3 -125.3 -101.5 -63.2 210.6 38

 39 Due to (3): -14.0 21.7 23.0 52.1 -48.5 -16.6 224.5 -128.1 -90.6 -72.1 225.0 39

 40 Foreign banking offices in U.S. -0.8 -4.9 3.1 -2.3 -1.4 -4.6 -16.3 1.5 -6.7 2.9 -2.7 40

 41 Banks in U.S.-affiliated areas -0.9 1.2 0.4 -0.2 0.6 -0.2 1.7 1.9 -3.2 -1.4 2.8 41

 42 Credit unions -38.1 21.9 13.8 -2.2 -0.7 -2.3 -49.3 38.8 19.8 -18.6 -33.3 42

 43 - Due from: Foreign banking offices in U.S. 2.9 -19.1 52.5 13.6 -3.3 0.4 2.2 -2.8 10.9 -8.9 14.3 43

 44 Unallocated (2) 25.8 3.5 5.7 56.8 -47.1 -9.4 288.4 -170.4 -100.6 -55.0 258.2 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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50 Z.1, June 9, 2016

F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 266.3 234.5 267.7 332.6 351.1 292.2 -140.3 863.0 -268.5 714.6 458.3 1

 2 Monetary authority 185.0 -122.1 62.1 139.5 152.2 204.4 -440.3 711.6 -82.0 628.3 3.1 2

 3 Federal government cash and deposits 149.0 -255.0 7.0 69.8 61.0 110.1 -491.2 621.8 -222.4 532.0 -76.0 3

 4 Due to government-sponsored enterprises -21.6 51.1 -37.4 -1.3 -5.8 10.9 3.0 29.4 15.5 -4.2 40.8 4

 5 Deposits due to foreign 0.9 -3.2 6.3 1.5 -2.7 -0.0 -0.1 0.1 3.9 -4.0 -0.1 5

 6 Currency outside banks 56.7 85.0 86.2 69.5 99.7 83.4 48.0 60.3 121.0 104.5 38.4 6

 7 U.S.-chartered depository institutions 69.6 319.4 176.2 148.2 136.2 50.3 220.1 104.1 -154.6 31.7 348.1 7

 8 Federal government deposits -0.1 -2.7 0.3 0.3 0.9 -0.2 -0.6 -0.1 0.8 -0.6 -0.9 8

 9 Deposits due to foreign -3.8 25.6 -4.2 -0.7 5.3 -14.5 -2.5 -13.8 -45.5 3.7 25.4 9

 10 Private domestic deposits 73.5 296.5 180.1 148.6 130.0 65.0 223.3 118.0 -109.9 28.6 323.5 10

 11 Foreign banking offices in U.S. 5.7 23.7 16.2 30.8 45.2 16.4 46.7 46.9 -33.4 5.3 72.4 11

 12 Deposits due to foreign 4.1 4.4 8.9 12.3 14.0 7.2 23.2 4.5 8.7 -7.7 3.7 12

 13 Private domestic deposits 1.7 19.3 7.3 18.5 31.2 9.2 23.5 42.4 -42.1 13.1 68.7 13

 14 Banks in U.S.-affiliated areas 0.5 2.8 2.5 6.3 5.2 1.6 -1.7 11.2 -1.6 -1.4 13.5 14

 15 Credit unions 5.5 10.7 10.7 7.9 12.2 19.5 34.9 -10.8 3.1 50.6 21.3 15

 16 Net change in assets 266.3 234.5 267.7 332.6 351.1 292.2 -140.3 863.0 -268.5 714.6 458.3 16

 17 Household sector 39.0 300.3 177.3 133.9 137.1 150.7 449.6 81.5 -199.2 271.0 245.6 17

 18 Nonfinancial business 76.8 55.5 13.7 75.5 73.6 24.1 -119.0 253.2 13.2 -50.9 162.4 18

 19 Corporate 79.6 30.8 -45.5 63.5 39.0 -16.1 -148.9 209.6 -16.4 -108.9 125.5 19

 20 Noncorporate -2.7 24.6 59.3 12.0 34.6 40.2 29.9 43.5 29.6 58.0 36.9 20

 21 Federal government 148.9 -257.6 6.7 69.6 60.8 109.9 -450.1 522.6 -224.0 591.2 -36.4 21

 22 State and local governments 5.7 16.8 -8.8 7.1 15.8 -9.2 -24.3 17.6 -0.5 -29.5 22.1 22

 23 Domestic financial sectors -32.5 37.0 9.2 -3.6 -19.9 -14.1 -22.0 -99.1 120.8 -56.1 26.4 23

 24 Property-casualty insurance companies 5.0 -8.5 12.3 -6.7 5.9 -2.9 -0.6 -20.1 15.3 -6.2 -7.8 24

 25 Life insurance companies 1.0 2.0 2.7 -9.2 3.6 6.9 -6.3 -29.8 41.2 22.7 -7.5 25

 26 Private pension funds 2.1 5.5 -2.0 -0.4 0.4 1.6 1.6 0.4 1.5 2.9 1.9 26

 27 State and local govt. retirement funds 0.5 0.2 -0.3 0.3 0.6 0.4 1.0 0.6 -0.6 0.7 0.5 27

 28 Money market mutual funds -3.8 6.0 -3.7 -3.3 -17.9 11.9 3.0 25.2 12.7 6.8 22.5 28

 29 Government-sponsored enterprises -36.0 9.3 -20.1 29.0 -16.6 -24.0 -46.2 -49.0 24.9 -25.6 -25.2 29

 30 Finance companies -1.7 5.1 -3.8 4.2 -0.2 0.6 1.9 3.5 3.4 -6.4 15.8 30

 31 REITs -5.7 2.5 7.7 -1.0 4.3 -3.0 0.2 -15.6 16.6 -13.1 6.9 31

 32 Brokers and dealers 6.2 14.9 16.3 -16.5 0.0 -5.7 23.6 -14.3 5.8 -37.9 19.3 32

 33 Rest of the world 29.5 81.8 68.2 50.9 82.8 31.0 66.6 -11.8 20.6 48.5 79.3 33

 34 Checkable deposits 1.2 26.8 11.0 13.2 16.5 -7.4 20.6 -9.3 -32.8 -8.0 29.0 34

 35 Currency 28.3 55.0 57.1 37.7 66.3 38.4 46.0 -2.5 53.5 56.5 50.3 35

 36 Mail float -1.1 0.8 1.5 -0.7 0.9 -0.3 -41.2 98.9 0.7 -59.5 -41.2 36
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Z.1, June 9, 2016 51

F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 115.6 404.1 520.4 409.1 513.2 406.2 836.9 -31.5 456.2 363.2 757.9 1

 2 Small time and savings deposits 298.3 577.4 539.6 307.0 365.0 513.7 992.9 59.6 406.2 596.1 604.5 2

 3 U.S.-chartered depository institutions 271.7 537.1 491.5 256.7 343.8 462.2 834.5 146.0 323.8 544.4 584.9 3

 4 Foreign banking offices in U.S. 5.8 13.2 13.8 27.7 -5.9 13.0 167.5 -150.5 32.3 2.7 2.9 4

 5 Banks in U.S.-affiliated areas -5.2 -0.4 -0.1 2.5 2.0 -1.5 -7.2 4.9 -2.2 -1.3 5.2 5

 6 Credit unions 26.1 27.4 34.4 20.1 25.0 40.0 -2.0 59.3 52.4 50.4 11.4 6

 7 Large time deposits (1) -182.7 -173.3 -19.2 102.1 148.2 -107.5 -156.0 -91.1 50.0 -232.9 153.4 7

 8 U.S.-chartered depository institutions -133.8 -13.2 -9.1 23.9 102.5 21.9 32.2 -104.3 173.7 -14.2 104.7 8

 9 Foreign banking offices in U.S. -46.5 -163.1 -16.2 71.1 39.7 -134.4 -188.3 6.4 -129.7 -225.8 30.9 9

 10 Banks in U.S.-affiliated areas -5.2 -0.4 -0.1 2.5 2.0 -1.5 -7.2 4.9 -2.2 -1.3 5.2 10

 11 Credit unions 2.8 3.4 6.2 4.7 4.1 6.4 7.2 1.9 8.1 8.5 12.5 11

 12 Net change in assets 115.6 404.1 520.4 409.1 513.2 406.2 836.9 -31.5 456.2 363.2 757.9 12

 13 Household sector 164.8 370.0 412.0 210.0 433.6 459.3 541.7 100.2 674.8 520.6 335.8 13

 14 Nonfinancial business 62.8 19.2 43.4 47.4 4.0 37.4 124.4 -98.9 88.6 35.7 -34.8 14

 15 Corporate 59.9 13.2 33.3 35.8 -21.5 -29.6 51.5 -130.5 15.8 -55.1 -109.3 15

 16 Noncorporate 2.9 6.0 10.1 11.5 25.5 67.0 72.9 31.6 72.8 90.7 74.5 16

 17 Federal government 0.1 -0.3 0.2 -0.5 0.2 0.0 -0.6 1.1 0.9 -1.3 0.2 17

 18 State and local governments -6.0 15.8 21.7 18.2 7.4 10.1 30.6 -0.1 -5.7 15.5 5.0 18

 19 Domestic financial sectors -110.9 -47.9 5.1 81.6 13.8 -78.5 110.9 25.5 -233.1 -217.2 331.7 19

 20 Private pension funds -0.4 1.8 -3.8 4.7 0.2 3.1 3.8 1.4 2.8 4.3 3.1 20

 21 State and local govt. retirement funds 5.5 2.3 -2.8 2.2 4.7 3.7 8.9 4.7 -4.9 6.1 4.2 21

 22 Money market mutual funds -109.8 -57.1 32.5 59.5 20.4 -78.4 71.0 -3.5 -204.3 -176.9 272.1 22

 23 Government-sponsored enterprises 0.3 -12.7 -9.1 1.1 -2.1 -0.7 -5.4 3.7 -0.6 -0.6 3.2 23

 24 Finance companies -5.2 15.4 -11.5 12.7 -0.5 1.8 5.6 10.4 10.2 -19.1 47.3 24

 25 Holding companies -1.3 2.4 -0.3 1.5 -8.9 -7.9 27.0 8.8 -36.3 -31.1 1.7 25

 26 Rest of the world 4.9 47.3 38.0 52.5 54.2 -22.2 29.9 -59.3 -69.2 9.9 120.1 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues -512.4 -112.6 2.2 24.6 6.8 30.1 -84.5 43.5 43.4 118.0 257.0 1

 2 Net purchases -512.4 -112.6 2.2 24.6 6.8 30.1 -84.5 43.5 43.4 118.0 257.0 2

 3 Household sector -183.7 -19.6 2.0 28.2 -19.1 -54.1 -186.1 98.3 -139.9 11.1 120.1 3

 4 Nonfinancial corporate business -157.7 -35.4 57.1 39.7 -0.9 18.6 -51.9 3.8 50.2 72.2 -13.8 4

 5 Nonfinancial noncorporate business 3.1 0.8 3.0 2.0 3.9 4.9 4.9 4.8 2.9 6.8 3.3 5

 6 State and local governments 14.6 2.1 4.3 1.3 6.8 18.3 16.4 14.3 22.3 20.2 21.4 6

 7 Property-casualty insurance companies -4.0 -5.6 2.2 -2.2 -1.9 3.2 2.4 2.3 4.7 3.3 -3.4 7

 8 Life insurance companies -20.1 7.8 -5.8 -10.1 4.0 2.7 -7.6 -4.3 44.7 -22.0 9.0 8

 9 Private pension funds -10.8 17.0 -16.8 12.6 -9.3 3.5 1.2 -8.8 11.7 9.9 7.8 9

 10 State and local govt. retirement funds 1.4 -1.1 -3.9 3.3 4.8 4.4 10.4 5.7 -9.6 11.2 5.1 10

 11 Funding corporations -148.0 -83.4 -62.4 -61.5 13.4 27.5 139.1 -67.6 47.6 -9.2 106.7 11

 12 Rest of the world -7.1 4.6 22.6 11.3 5.1 1.3 -13.3 -4.9 8.7 14.5 0.7 12
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52 Z.1, June 9, 2016

F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 421.3 280.7 248.8 -466.5 35.4 23.8 180.5 -234.1 541.7 -393.0 -464.5 1

 2 Monetary authority -18.0 40.2 7.3 208.7 193.9 202.6 108.1 85.2 331.7 285.3 -647.4 2

 3 U.S.-chartered depository institutions -48.1 -81.5 -52.6 -80.5 -33.2 -39.4 -30.1 -9.8 -81.2 -36.4 -12.4 3

 4 Federal funds (2) ND ND ND -11.0 -19.7 0.8 -39.9 22.0 -17.8 38.7 1.1 4

 5 Security repurchase agreements ND ND ND -69.5 -13.5 -40.1 9.8 -31.8 -63.4 -75.1 -13.5 5

 6 Foreign banking offices in U.S. 54.8 54.4 20.6 -12.3 58.6 35.3 -47.4 32.9 -30.3 186.1 -54.3 6

 7 Federal funds (2) -75.7 -9.9 -2.6 -2.6 8.3 -0.3 45.4 -63.3 16.9 -0.1 12.2 7

 8 Security repurchase agreements 130.6 64.3 23.3 -9.7 50.2 35.6 -92.8 96.2 -47.2 186.2 -66.5 8

 9 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 -0.0 -0.0 0.0 9

 10 Property-casualty insurance companies 0.8 1.7 -1.0 -0.6 -0.4 0.4 0.4 0.0 0.6 0.5 0.9 10

 11 Life insurance companies -2.2 1.9 2.3 6.5 1.0 0.9 1.0 1.2 -0.1 1.5 0.4 11

 12 Government-sponsored enterprises 0.1 -0.9 -0.4 0.0 0.1 -0.1 0.1 -0.3 0.5 -0.5 0.0 12

 13 REITs 29.9 97.7 102.4 -65.0 10.0 -43.3 -13.0 -52.9 -70.7 -36.7 -7.5 13

 14 Brokers and dealers 195.9 70.5 131.2 -439.3 -220.9 -179.4 -49.8 -219.8 53.7 -501.7 -8.9 14

 15 Holding companies 0.2 0.4 -1.2 -0.0 -0.0 0.1 0.1 0.1 0.1 0.0 -0.1 15

 16 Rest of the world 207.9 96.4 40.2 -84.0 26.4 46.6 211.1 -70.7 337.4 -291.2 264.8 16

 17 Net change in assets 379.6 247.4 211.6 -416.4 135.5 -59.1 7.0 -215.0 515.8 -544.3 -296.4 17

 18 Nonfinancial corporate business 4.3 0.4 -2.9 -1.0 12.9 4.0 2.4 6.5 5.7 1.6 -3.2 18

 19 State and local governments -0.8 -4.7 3.8 1.5 5.9 15.1 13.6 11.9 18.4 16.6 17.1 19

 20 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 U.S.-chartered depository institutions 0.7 -25.0 60.1 -87.2 -30.4 24.8 120.2 -24.8 13.6 -10.0 -16.8 21

 22 Federal funds (2) ND ND ND -11.1 -16.4 -11.2 -20.7 -12.0 -12.7 0.4 9.9 22

 23 Security repurchase agreements ND ND ND -76.2 -14.0 36.0 140.9 -12.8 26.3 -10.3 -26.8 23

 24 Foreign banking offices in U.S. 20.3 31.7 58.2 -1.2 41.1 0.4 -73.4 43.0 -48.2 80.1 -50.8 24

 25 Federal funds (2) -1.8 1.5 -0.8 -1.7 -0.0 -0.4 -0.8 0.7 -2.0 0.6 -0.2 25

 26 Security repurchase agreements 22.1 30.2 58.9 0.5 41.1 0.8 -72.5 42.3 -46.2 79.5 -50.5 26

 27 Credit unions -0.1 15.9 -6.2 -9.6 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Federal funds ND 15.9 -6.3 -9.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Security repurchase agreements ND 0.0 0.1 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Property-casualty insurance companies -0.7 -1.4 -0.8 0.0 0.1 0.0 -0.1 -0.1 0.1 -0.0 -0.3 30

 31 Life insurance companies 0.7 -4.7 2.1 -5.3 0.4 5.1 20.0 -1.6 6.6 -4.4 -2.3 31

 32 Private pension funds -0.2 0.0 -0.3 0.4 0.0 0.2 0.3 0.1 -0.1 0.3 -0.2 32

 33 State and local govt. retirement funds 0.3 0.1 -0.3 0.2 0.4 0.4 0.8 0.4 -0.5 0.6 0.4 33

 34 Money market mutual funds -0.6 11.7 54.1 -53.2 152.9 44.8 40.3 -28.3 153.9 13.3 -291.0 34

 35 Mutual funds -2.8 15.0 6.3 22.3 9.9 -12.4 -5.2 -16.6 -22.9 -4.8 14.8 35

 36 Government-sponsored enterprises 20.7 -38.9 38.6 1.5 10.3 20.8 -17.9 -68.5 31.9 137.9 -89.9 36

 37 Of which: FHLB federal funds (3) 21.3 -34.7 2.9 -14.5 23.3 -10.4 -40.9 -3.6 -42.5 45.5 28.1 37

 38 Brokers and dealers 243.4 154.6 55.1 -317.2 -168.2 -19.5 -55.8 129.6 289.7 -441.5 -71.9 38

 39 Holding companies 2.1 0.2 -49.3 -2.8 -5.1 -0.4 12.9 7.3 -14.5 -7.3 3.4 39

 40 Funding corporations 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world 92.4 92.6 -6.9 35.3 105.4 -142.5 -51.5 -273.9 82.2 -326.7 194.0 41

 42 Discrepancy 41.8 33.3 37.1 -50.1 -100.1 82.9 173.5 -19.1 25.8 151.3 -168.1 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations: (4)

 43 Liability: Monetary authority (5) 0.0 0.0 0.0 197.8 199.0 77.9 -72.9 56.4 228.0 99.9 -683.0 43

 44 Asset: Money market mutual funds (6) 0.0 0.0 0.0 163.3 207.9 52.8 -103.8 107.5 169.1 38.3 -625.2 44

 45 Other financial institutions (7) 0.0 0.0 0.0 34.5 -9.0 25.1 31.0 -51.1 59.0 61.6 -57.7 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 34.

(7) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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Z.1, June 9, 2016 53

F.208 Debt Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 By instrument

 1 Total debt securities 1394.5 1055.1 1357.3 1374.2 1311.8 1349.8 434.3 1393.5 509.4 3062.0 1488.2 1

 2 Open market paper -80.4 -88.3 -16.9 -0.8 -21.2 11.1 -42.5 92.8 7.5 -13.4 225.9 2

 3 Treasury securities 1645.3 1137.6 1181.0 857.7 736.0 724.4 -155.3 347.9 24.5 2680.5 700.8 3

 4 Agency- and GSE-backed securities -38.9 -21.0 -24.2 237.9 150.2 220.6 -159.4 217.3 325.4 499.2 49.3 4

 5 Municipal securities 99.7 -52.8 -4.9 -43.2 -18.8 66.6 157.3 52.4 50.7 5.9 100.3 5

 6 Corporate and foreign bonds -231.2 79.6 222.3 322.6 465.7 327.1 634.2 683.1 101.3 -110.2 412.0 6

 By sector

 7 Total liabilities 1394.5 1055.1 1357.3 1374.2 1311.8 1349.8 434.3 1393.5 509.4 3062.0 1488.2 7

 8 Domestic nonfinancial sectors 1949.6 1281.5 1514.6 1106.4 1026.4 1187.7 392.2 965.6 467.2 2925.9 1363.4 8

 9 Household sector (nonprofits) -2.2 -7.8 -14.5 -13.1 -4.8 -5.1 -0.4 -13.3 -9.9 3.3 7.5 9

 10 Nonfinancial corporate business 237.2 204.1 354.1 301.6 309.3 412.5 422.3 599.8 403.0 224.7 590.2 10

 11 Federal government 1645.9 1138.7 1180.6 857.3 735.9 724.6 -156.3 350.0 22.2 2682.3 700.3 11

 12 State and local governments 68.7 -53.6 -5.7 -39.4 -14.0 55.7 126.5 29.1 51.8 15.5 65.4 12

 13 Domestic financial sectors -679.8 -354.6 -316.3 65.0 176.5 163.2 -228.4 311.9 262.8 306.6 144.6 13

 14 U.S.-chartered depository institutions -69.3 10.0 -115.4 -102.7 -17.2 -9.3 -79.4 4.1 10.4 27.9 36.9 14

 15 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Government-sponsored enterprises -233.8 -187.2 -154.6 107.5 75.3 93.5 -163.5 93.5 142.1 301.9 -75.6 16

 17 Agency- and GSE-backed mortgage pools 194.2 165.1 130.8 130.8 75.0 126.9 5.1 121.8 185.4 195.4 125.3 17

 18 ABS issuers -404.7 -200.7 -152.5 -274.7 -50.7 -52.5 41.8 -3.1 -162.9 -85.8 -227.5 18

 19 Finance companies -110.9 -29.8 -74.1 -6.1 2.0 -7.3 52.9 -61.7 13.5 -33.9 -12.5 19

 20 REITs 1.0 7.6 26.4 176.1 46.9 -12.2 1.0 -8.9 -21.5 -19.3 85.5 20

 21 Brokers and dealers 36.9 -37.9 -1.7 22.2 11.5 7.4 -65.9 113.5 -1.6 -16.4 -47.3 21

 22 Holding companies -42.6 -80.4 20.3 -15.8 8.0 -49.4 -45.4 15.4 -44.4 -123.0 119.4 22

 23 Funding corporations -50.6 -1.2 4.4 27.7 25.8 65.9 25.0 37.3 141.8 59.6 140.4 23

 24 Rest of the world 124.7 128.2 159.0 202.8 108.8 -1.1 270.6 116.1 -220.6 -170.6 -19.8 24

 25 Total assets: 1394.5 1055.1 1357.3 1374.2 1311.8 1349.8 434.3 1393.5 509.4 3062.0 1488.2 25

 26 Domestic nonfinancial sectors -102.4 -180.7 -118.0 -458.2 -84.8 357.5 63.3 -107.5 1081.4 392.8 -169.7 26

 27 Household sector -130.6 7.2 -95.5 -387.6 -116.6 286.5 -24.1 -72.8 933.0 309.9 -290.1 27

 28 Nonfinancial corporate business 15.6 -8.5 -12.5 -13.2 9.3 -7.9 -21.0 -19.6 -19.1 27.9 -24.4 28

 29 Nonfinancial noncorporate business 2.5 1.1 4.2 0.5 2.8 4.6 3.6 4.9 3.5 6.3 3.8 29

 30 Federal government -46.9 -118.2 -31.3 -0.1 -0.0 -0.0 0.0 -0.1 -0.1 0.0 0.0 30

 31 State and local governments 57.1 -62.3 17.0 -57.8 19.7 74.4 104.8 -19.9 164.1 48.7 141.0 31

 32 Domestic financial sectors 857.5 1032.3 979.7 1284.7 862.2 552.7 203.0 157.2 -133.3 1983.8 1335.2 32

 33 Monetary authority 316.3 444.0 64.5 1086.6 480.7 5.1 21.6 -11.5 17.2 -6.9 62.4 33

 34 U.S.-chartered depository institutions 135.2 108.3 163.6 90.7 241.5 214.4 284.9 202.2 34.2 336.2 86.5 34

 35 Foreign banking offices in U.S. -10.7 2.2 11.4 -50.4 -14.5 -9.0 -33.9 -50.0 37.9 10.0 85.1 35

 36 Banks in U.S.-affiliated areas -9.5 -3.5 -2.6 1.5 -1.2 0.8 -0.2 1.5 -0.0 1.9 -0.4 36

 37 Credit unions 31.1 31.0 17.9 4.6 -9.0 -2.8 -3.9 -15.8 -17.8 26.2 -20.2 37

 38 Property-casualty insurance companies 4.2 35.4 0.3 28.6 19.8 -2.3 -28.9 14.2 -2.3 7.7 26.6 38

 39 Life insurance companies 160.4 102.5 60.6 55.1 70.2 70.9 105.2 54.9 89.6 33.9 266.6 39

 40 Private pension funds 116.2 75.0 142.9 89.8 23.1 42.6 56.0 6.2 45.7 62.4 64.9 40

 41 Federal government retirement funds 76.6 96.3 55.8 107.9 86.5 92.2 -304.3 -460.0 -362.7 1495.7 93.5 41

 42 State and local govt. retirement funds 23.2 4.7 -2.3 89.9 44.9 -22.2 36.2 -6.4 -99.9 -18.6 11.4 42

 43 Money market mutual funds -403.2 -8.1 -87.2 28.9 -124.2 72.2 -154.8 98.7 139.6 205.5 291.2 43

 44 Mutual funds 446.1 148.6 508.5 110.9 93.1 92.5 243.1 389.9 -171.8 -91.2 141.7 44

 45 Closed-end funds 5.2 -1.7 11.3 13.5 -3.8 -5.1 -1.5 5.4 -17.0 -7.1 -8.6 45

 46 Exchange-traded funds 29.7 46.1 52.3 12.2 51.0 55.0 77.1 7.6 86.0 49.0 126.2 46

 47 Government-sponsored enterprises -72.7 -38.5 -136.7 -94.6 -18.9 -25.3 -25.9 -68.0 -24.1 16.8 -12.0 47

 48 ABS issuers -109.2 -13.5 -5.9 -1.2 5.5 0.9 2.7 3.9 -1.3 -1.8 -4.0 48

 49 Finance companies -19.8 0.9 -6.3 -10.8 6.0 5.8 8.5 14.2 -5.2 5.6 -6.8 49

 50 REITs 45.4 108.5 119.0 -89.7 7.7 -45.9 -14.7 -82.4 -32.1 -54.2 -2.7 50

 51 Brokers and dealers 44.9 -1.3 103.9 -186.3 -89.2 -36.7 41.9 -52.3 31.3 -167.5 -3.3 51

 52 Holding companies 17.9 -0.9 -66.8 15.9 -0.2 -20.6 -22.0 1.7 18.0 -80.3 -9.9 52

 53 Funding corporations 30.1 -103.7 -24.5 -18.3 -6.6 70.3 -84.0 103.2 101.7 160.5 147.1 53

 54 Rest of the world 639.4 203.6 495.7 547.7 534.3 439.6 168.0 1343.8 -438.8 685.3 322.7 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.
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54 Z.1, June 9, 2016

F.209 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total net issues, all types -80.4 -88.3 -16.9 -0.8 -21.2 11.1 -42.5 92.8 7.5 -13.4 225.9 1

 2 Commercial paper -79.9 -88.2 -16.8 -0.8 -21.2 11.1 -42.5 92.8 7.5 -13.4 225.9 2

 3 Nonfinancial corporate business 24.5 33.4 14.0 14.2 37.5 -5.4 -61.2 -53.2 70.3 22.5 33.9 3

 4 Foreign issues in U.S. -2.7 -53.5 27.9 34.0 -21.4 59.3 142.5 -17.3 52.7 59.2 68.6 4

 5 Nonfinancial -3.8 -0.5 10.3 11.2 -6.4 -1.1 39.1 -1.8 -58.0 16.5 31.2 5

 6 Financial 1.1 -53.0 17.6 22.8 -15.0 60.3 103.4 -15.5 110.7 42.7 37.4 6

 7 Domestic financial sectors -101.7 -68.1 -58.7 -48.9 -37.3 -42.7 -123.7 163.3 -115.4 -95.1 123.4 7

 8 U.S.-chartered depository institutions -19.7 7.7 -33.1 -27.8 -5.2 -0.9 -21.9 4.3 4.0 9.9 12.0 8

 9 ABS issuers -40.3 -24.1 -9.0 -7.1 -15.1 -7.3 2.3 51.2 -54.5 -28.1 42.0 9

 10 Finance companies 1.7 10.0 8.2 -10.3 -1.1 -2.9 -1.6 45.4 -10.3 -45.2 10.3 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 3.9 11.1 6.2 -19.9 -19.6 -71.3 -28.0 -54.8 -161.1 -41.4 -0.3 12

 13 Funding corporations -47.4 -72.7 -30.9 16.2 3.6 39.7 -74.5 117.2 106.5 9.6 59.3 13

 14 Bankers’ acceptances (1) -0.5 -0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions -0.5 -0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Net purchases, by sector -80.4 -88.3 -16.9 -0.8 -21.2 11.1 -42.5 92.8 7.5 -13.4 225.9 17

 18 Household sector -1.5 -1.8 -0.6 -3.8 -0.1 -1.2 1.4 1.7 -5.5 -2.3 -7.9 18

 19 Nonfinancial corporate business 12.0 -0.1 -8.4 -6.6 3.5 -2.0 6.5 1.9 -9.5 -6.9 3.6 19

 20 State and local governments 13.4 -12.1 -7.8 -9.4 -7.1 -0.7 -3.6 -4.9 13.5 -7.9 -4.7 20

 21 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S.-chartered depository institutions (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Property-casualty insurance companies -1.9 0.9 -1.4 0.7 -0.1 0.9 0.6 0.6 1.5 0.9 -1.4 25

 26 Life insurance companies -8.9 -11.2 13.9 3.2 -4.6 -7.4 3.2 -10.0 -1.7 -21.3 24.3 26

 27 Private pension funds -1.4 2.4 -4.6 5.4 1.2 3.1 5.3 2.3 0.2 4.7 4.3 27

 28 State and local govt. retirement funds 5.3 2.1 -3.0 2.4 5.2 4.0 9.7 5.1 -5.3 6.7 4.6 28

 29 Money market mutual funds -118.7 -40.5 -14.4 10.7 -19.2 -39.8 6.6 27.2 -1.0 -192.1 105.5 29

 30 Mutual funds -2.8 15.0 6.3 22.3 9.9 -12.4 -21.6 -23.7 -17.7 13.6 0.1 30

 31 Government-sponsored enterprises 0.2 -3.4 -3.1 1.0 1.5 -0.5 -1.4 -0.1 -2.3 1.9 0.1 31

 32 Brokers and dealers -5.3 5.9 -12.2 -1.3 -7.8 -1.4 3.4 -8.2 -0.4 -0.3 3.2 32

 33 Funding corporations 39.9 -46.0 18.5 -23.7 -11.3 71.7 -98.0 124.1 83.9 176.8 115.5 33

 34 Rest of the world -10.7 0.7 -0.1 -1.7 7.6 -3.4 45.3 -23.1 -48.3 12.7 -21.4 34

(1) Excludes banks’ holdings of own acceptances.
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Z.1, June 9, 2016 55

F.210 Treasury Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 1645.3 1137.6 1181.0 857.7 736.0 724.4 -155.3 347.9 24.5 2680.5 700.8 1

 2 Marketable Treasury securities 1590.0 1083.4 1121.9 806.2 646.7 688.1 146.9 879.7 495.6 1230.4 580.0 2

 3 Treasury bills -19.0 -249.5 107.0 -35.9 -133.9 54.3 79.4 -333.5 -151.7 623.2 413.4 3

 4 Other Treasury notes, bonds, and TIPS 1610.6 1334.7 1016.2 834.3 781.9 632.4 67.5 1218.4 647.4 596.4 166.6 4

 5 Held in the Civil Service Retirement Fund (2) -1.7 -1.8 -1.3 7.9 -1.4 1.4 0.0 -5.2 0.0 10.7 0.0 5

 6 Nonmarketable Treasury securities 55.3 54.2 59.1 51.4 89.4 36.2 -302.2 -531.8 -471.2 1450.2 120.8 6

 7 U.S. savings securities -3.3 -2.7 -2.8 -3.3 -3.3 -4.3 -4.1 -4.2 -4.3 -4.8 -5.1 7

 8 State and local government series (SLGS) -21.2 -40.9 10.5 -42.0 -4.1 -41.3 12.4 -95.8 -55.7 -26.2 38.1 8

 9 Thrift Savings Plan G Fund 9.9 23.0 10.8 14.2 18.6 15.7 -238.4 -252.2 -274.4 827.7 24.2 9

 10 Federal govt. defined benefit pension plans 67.4 72.6 41.7 90.3 70.2 74.3 -66.8 -203.6 -89.4 657.1 68.8 10

 11 Other nonmarketable securities 2.5 2.2 -1.2 -7.8 8.0 -8.0 -5.3 24.0 -47.2 -3.6 -5.1 11

 12 Total assets 1645.3 1137.6 1181.0 857.7 736.0 724.4 -155.3 347.9 24.5 2680.5 700.8 12

 13 Household sector 315.5 -193.6 223.8 -33.7 -241.1 220.6 -16.5 44.5 437.2 417.2 -120.0 13

 14 U.S. savings securities (line 7) -3.3 -2.7 -2.8 -3.3 -3.3 -4.3 -4.1 -4.2 -4.3 -4.8 -5.1 14

 15 Other Treasury securities 318.8 -190.9 226.6 -30.4 -237.8 224.9 -12.5 48.7 441.5 422.0 -114.9 15

 16 Nonfinancial corporate business 5.1 -5.1 -3.5 -0.6 2.5 -5.9 -29.7 -10.9 -3.9 21.1 -12.4 16

 17 Nonfinancial noncorporate business 1.9 0.8 4.0 2.2 2.6 4.2 3.3 4.5 3.3 5.9 3.5 17

 18 State and local governments 8.9 -34.4 42.8 -17.8 36.5 64.1 83.2 -30.5 107.8 95.7 118.1 18

 19 SLGS (line 8) -21.2 -40.9 10.5 -42.0 -4.1 -41.3 12.4 -95.8 -55.7 -26.2 38.1 19

 20 Other Treasury securities 30.1 6.5 32.3 24.1 40.6 105.4 70.8 65.3 163.6 121.9 80.0 20

 21 Monetary authority 244.9 642.0 2.7 542.6 252.6 0.2 48.4 -8.1 -16.3 -23.2 54.7 21

 22 Treasury bills 0.0 0.0 -18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other Treasury securities 244.9 642.0 21.1 542.6 252.6 0.2 48.4 -8.1 -16.3 -23.2 54.7 23

 24 U.S.-chartered depository institutions 93.0 -43.7 69.3 -26.1 203.3 14.8 -4.1 58.0 -22.3 27.5 -3.7 24

 25 Foreign banking offices in U.S. 3.5 -0.5 16.1 -9.6 -10.5 13.3 -3.2 6.2 -10.4 60.7 35.8 25

 26 Banks in U.S.-affiliated areas 0.6 -0.0 -0.6 0.7 0.2 1.1 0.6 1.4 1.5 0.8 0.3 26

 27 Credit unions 5.9 -2.5 1.7 -0.2 2.5 7.6 5.3 1.4 -1.6 25.4 -1.7 27

 28 Property-casualty insurance companies 3.2 4.6 -6.7 6.4 6.4 -3.2 -6.3 -2.8 -1.6 -2.3 0.2 28

 29 Treasury bills -0.3 1.9 -3.3 9.4 3.3 -3.9 -4.9 -5.0 -2.1 -3.8 -3.6 29

 30 Other Treasury securities 3.5 2.7 -3.4 -3.0 3.0 0.7 -1.3 2.1 0.5 1.5 3.8 30

 31 Life insurance companies 23.2 18.8 5.5 -12.2 14.3 14.7 35.5 5.1 19.9 -1.6 17.7 31

 32 Treasury bills -3.6 3.8 -4.5 -2.8 2.0 -2.1 -2.9 -3.6 3.5 -5.5 1.8 32

 33 Other Treasury securities 26.8 15.0 10.0 -9.4 12.3 16.9 38.4 8.7 16.4 4.0 15.9 33

 34 Private pension funds 29.8 38.4 63.5 -2.0 12.7 15.4 22.6 14.6 11.2 13.3 8.3 34

 35 Defined benefit plans 7.4 32.9 36.0 -2.7 5.6 7.4 13.0 4.9 5.8 5.7 1.3 35

 36 Defined contribution plans 22.4 5.5 27.5 0.7 7.2 8.1 9.6 9.7 5.4 7.6 6.9 36

 37 Federal government retirement funds 75.8 94.2 52.5 110.9 87.0 91.3 -304.8 -460.6 -365.2 1495.7 93.2 37

 38 Defined benefit plans 65.4 70.4 40.1 98.2 68.9 75.4 -67.0 -208.8 -90.2 667.7 68.7 38

 39 Defined contribution plans 10.4 23.7 12.4 12.7 18.2 15.9 -237.8 -251.8 -275.0 828.0 24.5 39

 40 State and local govt. retirement funds 8.3 7.1 12.0 15.4 -11.3 -13.3 -16.4 -14.5 -27.5 5.3 -12.3 40

 41 Money market mutual funds -72.4 110.4 13.8 29.8 -77.1 63.9 30.9 67.7 -84.9 241.8 235.8 41

 42 Treasury bills -85.7 29.9 18.9 6.1 -49.6 -8.6 -126.8 147.5 -188.1 133.2 184.9 42

 43 Other Treasury securities 13.2 80.5 -5.2 23.7 -27.5 72.4 157.6 -79.7 103.2 108.6 50.9 43

 44 Mutual funds 129.8 31.1 97.4 -54.3 193.3 139.9 79.5 126.6 222.1 131.4 13.0 44

 45 Treasury bills 9.5 -4.5 10.7 -42.9 26.5 15.9 1.7 5.7 35.6 20.6 10.5 45

 46 Other Treasury securities 120.3 35.6 86.6 -11.4 166.8 124.0 77.8 120.9 186.4 110.7 2.5 46

 47 Closed-end funds 0.7 -0.3 0.3 0.6 -0.2 -0.5 -0.4 -0.0 -0.7 -0.7 -0.6 47

 48 Exchange-traded funds 9.2 11.4 1.2 -6.5 13.0 14.1 12.2 2.2 58.6 -16.5 40.4 48

 49 Government-sponsored enterprises 45.9 17.6 -31.2 -9.9 5.2 23.2 30.0 -4.1 27.6 39.4 13.5 49

 50 ABS issuers -13.2 -10.2 -5.9 -0.9 5.5 1.0 2.7 3.9 -1.3 -1.4 -4.0 50

 51 Brokers and dealers -28.5 89.1 63.0 -110.5 -75.9 5.1 25.6 -28.8 114.0 -90.2 104.6 51

 52 Holding companies 13.8 7.1 -30.6 8.5 -2.8 -3.7 -14.4 -5.5 16.3 -11.1 -0.6 52

 53 Rest of the world 740.4 355.3 589.7 424.9 317.4 56.4 -139.2 577.7 -459.3 246.5 117.0 53

 54 Treasury bills -40.2 -62.6 14.0 23.3 -13.3 52.3 135.8 112.8 -128.7 89.1 14.2 54

 55 Other Treasury securities 780.5 417.9 575.8 401.6 330.7 4.2 -275.0 464.9 -330.6 157.3 102.8 55

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds.

 In the Financial Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as

 opposed to intragovernmental holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.
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56 Z.1, June 9, 2016

F.211 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net issues -38.9 -21.0 -24.2 237.9 150.2 220.6 -159.4 217.3 325.4 499.2 49.3 1

 2 Budget agencies 0.7 1.1 -0.4 -0.4 -0.1 0.2 -1.0 2.1 -2.2 1.8 -0.5 2

 3 Government-sponsored enterprises -233.8 -187.2 -154.6 107.5 75.3 93.5 -163.5 93.5 142.1 301.9 -75.6 3

 4 Agency- and GSE-backed mortgage pools 194.2 165.1 130.8 130.8 75.0 126.9 5.1 121.8 185.4 195.4 125.3 4

 5 Net purchases -38.9 -21.0 -24.2 237.9 150.2 220.6 -159.4 217.3 325.4 499.2 49.3 5

 6 Household sector 0.5 83.0 -69.4 -33.6 97.3 189.7 -131.3 178.6 384.0 327.3 -84.2 6

 7 Nonfinancial corporate business 1.7 -1.7 -1.2 -4.2 4.8 -2.0 -9.9 -3.6 -1.3 7.0 -4.1 7

 8 Federal government -47.2 -118.1 -31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments 25.1 -13.9 -20.4 -29.6 -14.7 -6.3 9.6 2.4 21.0 -58.3 4.3 9

 10 Monetary authority 71.4 -197.9 61.8 543.9 228.1 4.9 -26.8 -3.4 33.5 16.3 7.8 10

 11 U.S.-chartered depository institutions 110.1 106.9 35.5 47.7 43.0 164.4 218.8 121.9 64.1 253.0 21.7 11

 12 Foreign banking offices in U.S. -4.8 4.0 1.5 -6.7 -4.9 2.6 -4.7 15.9 -9.3 8.6 0.4 12

 13 Banks in U.S.-affiliated areas -7.7 -8.0 -2.2 -0.8 -0.1 0.1 -1.0 1.4 0.0 -0.0 -1.2 13

 14 Credit unions 40.9 30.6 14.9 2.2 -11.7 -11.9 -14.9 -17.2 -16.1 0.6 -23.0 14

 15 Property-casualty insurance companies -0.4 6.9 -8.4 -4.9 -3.3 -7.6 -10.6 -5.6 -7.8 -6.3 3.4 15

 16 Life insurance companies 4.0 -1.6 -13.5 -6.8 -15.0 -14.3 -9.0 -12.5 -19.4 -16.3 26.3 16

 17 Private pension funds 6.6 -9.5 1.9 -5.8 -10.5 -7.3 -7.4 -14.2 -7.5 -0.0 -5.0 17

 18 Federal government retirement funds 0.6 0.7 1.5 -1.7 -0.5 0.2 0.5 0.4 -0.3 0.2 0.3 18

 19 State and local govt. retirement funds 2.5 -26.5 -24.8 2.9 -4.2 -7.7 -9.5 -8.3 -15.9 3.0 -5.9 19

 20 Money market mutual funds -143.0 1.2 -62.2 17.3 23.3 76.9 -138.9 34.8 196.4 215.3 91.7 20

 21 Mutual funds 74.7 70.9 106.6 -41.3 -200.3 -107.0 59.7 -103.1 -208.0 -176.8 9.2 21

 22 Government-sponsored enterprises -85.1 -18.1 -48.3 -22.7 7.8 -14.3 -12.3 -27.4 -17.3 -0.1 5.3 22

 23 ABS issuers -96.0 -3.3 -0.0 -0.2 0.0 -0.1 0.0 0.0 0.0 -0.4 0.0 23

 24 REITs 38.2 104.7 109.5 -88.3 8.5 -50.0 -33.5 -84.0 -29.5 -52.8 -1.9 24

 25 Brokers and dealers 38.9 -2.1 21.9 -55.4 7.7 -12.2 9.5 4.9 -11.0 -52.1 -28.7 25

 26 Holding companies -3.2 12.0 -24.3 9.6 0.0 -4.3 12.2 -5.5 2.8 -26.7 -7.8 26

 27 Rest of the world -66.6 -41.6 -73.6 -83.7 -5.2 26.7 -59.8 141.9 -32.9 57.7 40.7 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.106, line 44.
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Z.1, June 9, 2016 57

F.212 Municipal Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 99.7 -52.8 -4.9 -43.2 -18.8 66.6 157.3 52.4 50.7 5.9 100.3 1

 2 State and local governments 68.7 -53.6 -5.7 -39.4 -14.0 55.7 126.5 29.1 51.8 15.5 65.4 2

 3 Short-term (1) -0.7 -10.6 3.8 -10.9 -6.7 -5.8 0.6 12.6 -33.3 -3.2 0.8 3

 4 Long-term 69.3 -42.9 -9.4 -28.6 -7.4 61.6 125.9 16.5 85.2 18.7 64.6 4

 5 Nonprofit organizations (2) -2.2 -7.8 -14.5 -13.1 -4.8 -5.1 -0.4 -13.3 -9.9 3.3 7.5 5

 6 Nonfinancial corporate business 33.2 8.5 15.2 9.3 -0.1 15.9 31.2 36.6 8.7 -12.9 27.4 6

 (industrial revenue bonds)

 7 Net change in assets 99.7 -52.8 -4.9 -43.2 -18.8 66.6 157.3 52.4 50.7 5.9 100.3 7

 8 Household sector 57.1 -42.8 -128.5 -26.3 -45.6 -7.7 23.3 -2.7 33.6 -85.1 18.6 8

 9 Nonfinancial corporate business -3.2 -1.6 0.6 -1.7 -1.5 1.9 12.2 -6.9 -4.4 6.7 -11.4 9

 10 Nonfinancial noncorporate business 0.5 0.3 0.2 -1.7 0.2 0.3 0.3 0.4 0.3 0.5 0.3 10

 11 State and local governments 1.4 0.2 0.2 -0.1 0.4 1.3 1.2 1.0 1.6 1.4 1.7 11

 12 U.S.-chartered depository institutions 30.3 42.6 67.8 53.8 32.7 47.4 67.4 46.1 35.1 40.9 48.4 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Banks in U.S.-affiliated areas -0.9 0.9 -0.8 0.9 -0.9 -0.6 0.2 -1.0 -1.1 -0.4 -0.6 14

 15 Credit unions 0.0 3.2 1.0 0.3 -0.8 0.6 0.7 1.2 0.6 -0.2 1.9 15

 16 Property-casualty insurance companies -21.0 -17.4 -2.9 -1.7 -4.2 8.3 -0.5 14.5 7.4 11.7 10.4 16

 17 Life insurance companies 39.2 9.4 9.7 10.1 6.2 10.7 8.4 10.2 12.6 11.5 13.3 17

 18 State and local govt. retirement funds 0.7 -0.6 -0.0 0.9 1.0 -0.4 -5.5 7.5 -6.9 3.2 0.3 18

 19 Money market mutual funds -53.1 -29.2 -21.1 -28.6 -27.0 -13.6 -9.9 -29.8 -7.4 -7.5 -95.2 19

 20 Mutual funds 33.0 -7.5 70.8 -39.5 15.1 16.2 42.9 10.9 -10.6 21.7 78.5 20

 21 Closed-end funds 0.4 0.9 3.5 -1.7 0.5 -0.8 -0.6 -2.8 -0.7 0.8 2.2 21

 22 Exchange-traded funds 1.7 1.0 3.6 -0.8 3.2 3.9 5.6 2.2 2.0 5.9 7.1 22

 23 Government-sponsored enterprises -4.2 -3.9 -4.1 -3.5 -2.6 -2.6 -3.6 -3.2 -1.5 -2.2 -2.6 23

 24 Brokers and dealers 4.6 -9.1 -4.3 -8.0 0.2 -4.9 7.1 -6.7 -12.3 -7.8 19.3 24

 25 Rest of the world 13.1 0.6 -0.6 4.3 4.3 6.8 8.3 11.6 2.4 4.8 8.1 25

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

(2) Liability of the households and nonprofit organizations sector (tables F.101 and L.101).
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F.213 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net issues -231.2 79.6 222.3 322.6 465.7 327.1 634.2 683.1 101.3 -110.2 412.0 1

 2 Nonfinancial corporate business 179.5 162.2 324.9 278.1 271.9 402.0 452.4 616.5 324.0 215.1 528.9 2

 3 Domestic financial sectors -538.0 -264.3 -233.7 -124.4 63.5 -14.5 53.7 -66.7 50.7 -95.6 -28.5 3

 4 U.S.-chartered depository institutions -49.2 2.4 -82.3 -74.9 -12.0 -8.4 -57.5 -0.3 6.4 17.9 25.0 4

 5 ABS issuers (net) (1) -364.4 -176.6 -143.4 -267.6 -35.6 -45.2 39.6 -54.3 -108.4 -57.7 -269.5 5

 6 Finance companies -112.6 -39.7 -82.2 4.2 3.0 -4.4 54.4 -107.1 23.8 11.3 -22.8 6

 7 REITs 1.0 7.6 26.4 176.1 46.9 -12.2 1.0 -8.9 -21.5 -19.3 85.5 7

 8 Brokers and dealers 36.9 -37.9 -1.7 22.2 11.5 7.4 -65.9 113.5 -1.6 -16.4 -47.3 8

 9 Holding companies -46.5 -91.6 14.1 4.1 27.6 22.0 -17.5 70.2 116.7 -81.6 119.7 9

 10 Funding corporations -3.2 71.6 35.3 11.4 22.2 26.3 99.5 -79.9 35.3 50.0 81.0 10

 11 Rest of the world (2) 127.4 181.7 131.2 168.9 130.2 -60.4 128.1 133.4 -273.3 -229.8 -88.3 11

 12 Net purchases (3) -231.2 79.6 222.3 322.6 465.7 327.1 634.2 683.1 101.3 -110.2 412.0 12

 13 Household sector -502.1 162.4 -120.9 -290.2 72.9 -114.9 99.0 -294.9 83.7 -347.3 -96.6 13

 14 Federal government 0.3 -0.1 -0.2 -0.1 -0.0 -0.0 0.0 -0.1 -0.1 0.0 0.0 14

 15 State and local governments 8.2 -2.2 2.1 -1.0 4.6 16.1 14.4 12.1 20.1 17.8 21.6 15

 16 U.S.-chartered depository institutions -98.2 2.5 -9.0 15.2 -37.4 -12.2 2.8 -23.8 -42.7 14.9 20.1 16

 17 MBS and other ABS -88.1 -24.8 -1.0 -1.3 -8.6 -11.9 -5.4 -11.2 -15.6 -15.4 -23.9 17

 18 Other -10.2 27.3 -8.0 16.5 -28.8 -0.3 8.2 -12.6 -27.1 30.2 44.0 18

 19 Foreign banking offices in U.S. -9.4 -1.4 -6.2 -34.1 0.9 -24.9 -25.9 -72.0 57.6 -59.2 49.0 19

 20 Banks in U.S.-affiliated areas -1.4 3.6 1.0 0.6 -0.4 0.2 0.1 -0.3 -0.5 1.6 1.1 20

 21 Credit unions -15.7 -0.3 0.3 2.2 1.0 0.9 5.1 -1.2 -0.7 0.4 2.6 21

 22 MBS and other ABS -0.7 -0.3 0.7 2.1 1.0 0.9 5.0 -1.4 -0.4 0.5 2.5 22

 23 Other -15.0 -0.1 -0.4 0.1 -0.0 -0.0 0.0 0.2 -0.3 -0.1 0.2 23

 24 Property-casualty insurance companies 24.3 40.4 19.6 28.1 21.2 -0.7 -12.3 7.6 -1.9 3.7 13.9 24

 25 MBS and other ABS 0.0 -0.6 3.2 8.3 10.2 0.9 0.9 0.9 0.9 0.9 4.2 25

 26 Other 24.3 41.1 16.4 19.8 10.9 -1.6 -13.2 6.7 -2.8 2.8 9.7 26

 27 Life insurance companies 102.9 87.1 45.0 60.8 69.3 67.2 67.1 62.1 78.2 61.5 184.9 27

 28 MBS and other ABS 0.0 0.0 -24.3 9.1 15.8 -6.1 -6.1 -6.1 -6.1 -6.1 31.5 28

 29 Other 102.9 87.1 69.3 51.8 53.5 73.3 73.2 68.2 84.3 67.5 153.4 29

 30 Private pension funds 81.2 43.7 82.1 92.2 19.6 31.3 35.5 3.5 41.7 44.4 57.3 30

 31 Federal government retirement funds 0.2 1.4 1.7 -1.3 -0.0 0.7 0.0 0.2 2.8 -0.2 -0.0 31

 32 State and local govt. retirement funds 6.5 22.6 13.5 68.3 54.2 -4.8 58.0 3.8 -44.3 -36.8 24.7 32

 33 Money market mutual funds -16.0 -50.0 -3.3 -0.2 -24.2 -15.1 -43.5 -1.2 36.4 -52.0 -46.5 33

 34 Mutual funds 211.5 39.0 227.5 223.7 75.1 55.8 82.6 379.3 -157.6 -81.0 41.0 34

 35 Closed-end funds 4.1 -2.3 7.5 14.6 -4.1 -3.8 -0.5 8.2 -15.6 -7.2 -10.3 35

 36 Exchange-traded funds 18.7 33.6 47.6 19.5 34.8 36.9 59.4 3.2 25.4 59.6 78.7 36

 37 Government-sponsored enterprises -29.6 -30.8 -50.0 -59.4 -30.8 -31.1 -38.6 -33.3 -30.6 -22.1 -28.4 37

 38 MBS and other ABS -46.5 -32.2 -31.2 -58.8 -30.2 -30.4 -37.8 -32.5 -29.8 -21.4 -27.7 38

 39 Other 17.0 1.4 -18.8 -0.6 -0.7 -0.8 -0.8 -0.8 -0.7 -0.7 -0.7 39

 40 Finance companies -19.8 0.9 -6.3 -10.8 6.0 5.8 8.5 14.2 -5.2 5.6 -6.8 40

 41 REITs 7.2 3.8 9.5 -1.4 -0.9 4.1 18.8 1.6 -2.6 -1.4 -0.7 41

 42 Brokers and dealers 35.2 -85.0 35.5 -11.1 -13.5 -23.3 -3.7 -13.5 -59.0 -17.1 -101.8 42

 43 Holding companies 7.3 -20.1 -11.9 -2.1 2.6 -12.7 -19.8 12.8 -1.2 -42.5 -1.5 43

 44 Funding corporations -9.8 -57.7 -43.1 5.3 4.7 -1.4 13.9 -20.9 17.8 -16.3 31.5 44

 45 Rest of the world (4) -36.8 -111.5 -19.7 203.9 210.1 353.0 313.4 635.8 99.3 363.7 178.3 45

 46 MBS and other ABS -45.5 -44.8 -36.1 -22.5 -7.8 -1.6 -6.4 16.4 2.2 -18.4 -13.4 46

 47 Other 8.8 -66.7 16.4 226.4 217.9 354.6 319.8 619.4 97.1 382.0 191.7 47

(1) Net issuance less net acquisition of corporate bonds held as assets.

(2) Net purchases of foreign issues by U.S. residents.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
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F.214 Loans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 By instrument

 1 Total loans -532.9 77.9 352.0 690.2 990.3 827.7 844.5 1108.1 470.2 888.1 1005.0 1

 2 Depository institution loans n.e.c. -86.0 177.6 176.9 196.5 320.0 281.2 437.6 282.0 159.9 245.1 446.4 2

 3 Other loans and advances -128.1 -33.6 93.3 223.9 235.4 -83.0 -4.7 43.1 -334.5 -36.0 10.3 3

 4 Mortgages -290.6 -177.2 -82.2 93.9 213.1 398.0 207.7 516.4 400.7 467.1 334.4 4

 5 Home -155.6 -91.9 -83.1 -1.9 52.7 152.2 3.4 247.5 187.6 170.1 168.8 5

 6 Multifamily residential -3.3 -0.3 30.6 35.3 59.1 105.0 83.3 100.6 89.9 146.3 77.7 6

 7 Commercial -139.8 -98.1 -35.7 48.9 89.8 132.0 112.3 159.5 114.3 141.8 85.7 7

 8 Farm 8.1 13.1 6.0 11.6 11.5 8.8 8.7 8.8 8.9 8.9 2.2 8

 9 Consumer credit -28.1 111.1 164.1 175.8 221.8 231.6 203.9 266.6 244.1 211.9 214.0 9

 By sector

 10 Total liabilities -532.9 77.9 352.0 690.2 990.3 827.7 844.5 1108.1 470.2 888.1 1005.0 10

 11 Domestic nonfinancial sectors -380.5 15.4 396.1 459.9 809.7 801.9 765.6 1002.1 479.1 961.0 795.8 11

 12 Household sector -73.6 -60.5 268.1 246.1 428.4 404.3 267.4 584.4 247.0 518.2 371.3 12

 13 Nonfinancial corporate business -288.4 131.9 -47.5 104.1 175.9 85.0 273.4 78.5 -21.0 8.9 133.0 13

 14 Nonfinancial noncorporate business -19.4 -56.8 175.1 109.1 205.0 312.4 224.3 339.0 253.3 433.1 290.7 14

 15 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 State and local governments 0.9 0.9 0.4 0.5 0.4 0.3 0.4 0.1 -0.3 0.8 0.8 16

 17 Domestic financial sectors -176.6 17.9 -80.1 189.9 149.2 2.0 35.8 59.3 -6.2 -80.8 204.3 17

 18 U.S.-chartered depository institutions -149.0 -60.7 4.6 73.3 58.2 31.4 -34.9 79.7 -28.1 108.8 41.0 18

 19 Credit unions -0.4 -2.0 0.9 1.9 8.4 9.3 -2.0 20.1 19.8 -0.9 -6.9 19

 20 Property-casualty insurance companies -1.4 0.1 0.4 0.8 0.1 0.2 0.2 0.8 -0.1 -0.1 -0.3 20

 21 Life insurance companies -2.1 1.5 3.2 2.0 1.8 5.2 8.6 7.4 4.2 0.7 10.0 21

 22 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Finance companies -64.0 16.3 17.3 10.3 10.2 15.3 28.6 23.6 -7.7 16.8 15.0 23

 24 REITs -0.9 18.1 9.1 19.5 21.3 28.6 37.6 45.9 57.3 -26.2 -30.1 24

 25 Brokers and dealers 29.8 31.9 32.8 68.9 65.4 -49.3 7.7 -101.6 -16.5 -86.7 156.6 25

 26 Holding companies 26.1 64.0 -120.2 13.8 -16.3 -38.7 -9.9 -16.6 -35.1 -93.2 18.9 26

 27 Funding corporations -14.8 -51.2 -28.3 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Rest of the world 24.3 44.6 36.0 40.5 31.4 23.8 43.0 46.8 -2.7 8.0 5.0 28

 29 Total assets -532.9 77.9 352.0 690.2 990.3 827.7 844.5 1108.1 470.2 888.1 1005.0 29

 30 Domestic nonfinancial sectors 144.3 129.5 145.2 173.8 181.8 75.9 160.8 17.0 88.8 36.9 277.4 30

 31 Household sector 0.8 -5.3 12.4 51.5 53.0 -57.4 3.3 -116.4 -13.6 -103.1 143.2 31

 32 Nonfinancial corporate business -4.1 1.7 -0.9 -3.1 5.8 4.1 19.7 0.6 -8.9 4.8 14.4 32

 33 Nonfinancial noncorporate business 4.2 -5.8 -2.4 1.0 1.6 2.7 2.1 2.9 2.1 3.7 2.2 33

 34 Federal government 129.3 139.0 131.6 124.4 115.0 106.0 116.7 114.4 83.9 108.9 90.4 34

 35 State and local governments 14.1 -0.1 4.6 -0.1 6.4 20.6 19.1 15.6 25.3 22.6 27.1 35

 36 Domestic financial sectors -657.0 -85.5 259.1 520.6 777.6 728.5 648.7 1072.4 349.2 843.9 695.4 36

 37 Monetary authority -44.8 -67.6 -29.9 -0.5 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 U.S.-chartered depository institutions -252.7 77.5 258.5 170.7 439.2 527.4 604.0 505.1 424.7 575.8 745.4 38

 39 Foreign banking offices in U.S. -10.7 59.1 -12.9 45.7 74.7 78.1 105.7 75.2 49.6 81.9 59.8 39

 40 Banks in U.S.-affiliated areas -9.8 -1.4 2.5 -1.2 -4.3 -5.8 -16.1 -3.4 -2.6 -1.0 -1.9 40

 41 Credit unions -6.2 7.6 29.1 45.6 69.2 76.3 71.6 80.5 81.3 71.6 99.6 41

 42 Property-casualty insurance companies -0.3 0.8 0.7 2.3 2.0 2.4 1.9 2.0 2.3 3.4 4.0 42

 43 Life insurance companies -8.8 22.9 13.7 22.3 29.5 39.7 31.5 31.1 35.1 61.3 26.4 43

 44 Private pension funds 2.8 -4.6 1.2 -0.7 0.2 -1.5 -2.3 -3.1 -1.2 0.7 -0.3 44

 45 State and local govt. retirement funds -0.3 -0.6 -1.0 -0.5 -0.3 -1.8 -9.5 2.1 -2.1 2.2 -1.0 45

 46 Mutual funds -0.8 18.9 12.2 39.4 9.4 -15.6 23.5 -24.1 -50.9 -11.0 -48.8 46

 47 Government-sponsored enterprises -215.7 -124.7 -52.8 154.4 88.5 139.1 -79.6 281.9 160.5 193.4 4.5 47

 48 Agency- and GSE-backed mortgage pools 194.2 165.1 130.8 130.8 75.0 126.9 5.1 121.8 185.4 195.4 125.3 48

 49 ABS issuers -276.2 -174.6 -139.7 -259.7 -61.1 -57.7 32.1 -3.6 -147.5 -111.8 -225.9 49

 50 Finance companies -91.7 -45.3 -22.3 -8.2 6.5 -17.7 3.3 -5.1 22.9 -92.0 -71.4 50

 51 REITs -1.3 11.7 8.6 150.4 19.9 -31.2 -26.0 4.1 -45.3 -57.6 42.5 51

 52 Brokers and dealers 62.5 -32.4 50.1 46.3 38.5 -90.1 -84.8 34.6 -297.4 -12.8 -78.5 52

 53 Holding companies 4.3 4.0 16.7 -14.2 -10.9 -40.9 -9.9 -28.9 -69.7 -54.9 -3.0 53

 54 Funding corporations -1.5 -2.0 -6.5 -2.3 1.5 0.8 -1.9 2.1 4.0 -0.9 18.6 54

 55 Rest of the world -20.2 33.9 -52.2 -4.2 30.9 23.3 34.9 18.7 32.2 7.3 32.2 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
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F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -86.0 177.6 176.9 196.5 320.0 281.2 437.6 282.0 159.9 245.1 446.4 1

 2 Household sector 50.1 -54.9 110.8 28.2 121.1 100.6 118.7 31.5 117.3 134.8 92.1 2

 3 Corporate business -87.0 152.1 101.5 63.7 92.8 77.2 126.7 71.7 74.8 35.5 160.7 3

 4 Noncorporate business -16.8 -26.5 64.6 32.4 64.2 99.4 115.6 98.7 33.9 149.6 163.0 4

 5 Domestic financial sectors -56.2 63.6 -130.4 33.2 13.3 -18.7 35.6 36.1 -60.1 -86.5 24.9 5

 6 Finance companies -64.9 15.9 16.4 10.1 10.5 13.7 28.5 23.7 -10.9 13.5 15.0 6

 7 REITs -1.8 4.6 4.0 -1.1 7.2 7.2 15.6 22.9 6.6 -16.2 -5.8 7

 8 Brokers and dealers 6.2 31.0 -9.2 10.4 12.0 -1.0 1.4 6.0 -20.7 9.3 -3.2 8

 9 Holding companies 26.1 64.0 -120.2 13.8 -16.3 -38.7 -9.9 -16.6 -35.1 -93.2 18.9 9

 10 Funding corporations -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world 24.0 43.2 30.4 39.1 28.6 22.7 41.0 44.0 -6.0 11.8 5.6 11

 12 Foreign official institutions 2.1 -1.2 0.8 1.0 1.1 1.3 4.0 -2.8 1.3 2.7 -5.2 12

 13 Foreign banks 15.6 16.8 0.6 20.0 -0.7 1.2 6.2 -0.4 3.5 -4.5 -33.0 13

 14 Other foreign 6.3 27.6 29.1 18.1 28.2 20.2 30.7 47.2 -10.8 13.6 43.8 14

 15 Net change in assets -86.0 177.6 176.9 196.5 320.0 281.2 437.6 282.0 159.9 245.1 446.4 15

 16 Monetary authority (2) -44.8 -67.6 -29.9 -0.5 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 U.S.-chartered depository institutions -33.2 175.8 216.8 144.3 249.8 214.1 328.8 225.6 124.7 177.5 387.2 17

 18 Foreign banking offices in U.S. -8.2 61.7 -11.0 46.3 67.4 64.4 106.3 61.0 26.9 63.1 41.0 18

 19 Banks in U.S.-affiliated areas -3.3 1.1 1.0 1.3 -2.3 -2.0 -5.7 -0.5 -1.6 -0.1 -1.9 19

 20 Credit unions 3.5 6.6 0.1 5.1 5.1 4.6 8.3 -4.1 9.9 4.5 20.1 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to the household, rest of the world, broker and dealer, and funding corporation sectors. See loan details on table F.109.
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F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total other loans and advances -128.1 -33.6 93.3 223.9 235.4 -83.0 -4.7 43.1 -334.5 -36.0 10.3 1

 2 U.S. government loans 3.7 4.8 2.5 7.2 2.6 3.3 2.1 11.6 -8.1 7.6 -2.6 2

 3 Liab.: Household sector -1.0 -0.5 -0.1 1.1 1.2 2.3 0.9 2.7 2.2 3.2 0.7 3

 4 Nonfinancial corporate business -4.3 -0.5 5.3 0.9 -1.5 0.6 -1.4 6.8 -5.3 2.1 -1.8 4

 5 Nonfinancial noncorporate business 0.6 2.9 0.6 2.0 -1.2 -3.2 -0.7 -3.0 -8.3 -0.9 -1.4 5

 6 State and local governments 0.9 0.9 0.4 0.5 0.4 0.3 0.4 0.1 -0.3 0.8 0.8 6

 7 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 7.2 0.7 -6.8 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 0.3 1.4 3.2 3.4 3.6 3.4 2.9 4.9 3.5 2.4 -0.9 10

 11 Foreign loans to U.S. corporate business -20.2 33.9 -52.2 -4.2 30.9 23.3 34.9 18.7 32.2 7.3 32.2 11

 12 Liab.: Nonfinancial corporate business -20.2 33.9 -52.2 -4.2 30.9 23.3 34.9 18.7 32.2 7.3 32.2 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans 4.3 4.0 16.7 -14.2 -10.9 -40.9 -9.9 -28.9 -69.7 -54.9 -3.0 17

 18 Liab.: Nonfinancial corporate business 4.3 4.0 14.3 -12.1 -10.1 -38.5 -9.1 -26.7 -69.4 -48.7 -3.3 18

 19 Rest of the world 0.0 0.0 2.4 -2.0 -0.8 -2.4 -0.8 -2.2 -0.3 -6.2 0.3 19

 20 Policy loans (Household liability) 3.4 2.4 1.4 0.9 1.7 1.6 1.0 1.6 3.4 0.2 -2.0 20

 21 Asset: Federal government -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 21

 22 Life insurance companies 3.4 2.5 1.4 1.0 1.7 1.6 1.0 1.7 3.4 0.2 -2.0 22

 23 Federal Home Loan Banks advances (1) -151.9 -60.7 10.3 79.0 73.1 65.6 -22.4 117.6 35.9 131.2 27.6 23

 24 Liab.: U.S.-chartered depository institutions -149.0 -60.7 4.6 73.3 58.2 31.4 -34.9 79.7 -28.1 108.8 41.0 24

 25 Credit unions -0.4 -2.0 0.9 1.9 8.4 9.3 -2.0 20.1 19.8 -0.9 -6.9 25

 26 Property-casualty insurance companies -1.4 0.1 0.4 0.8 0.1 0.2 0.2 0.8 -0.1 -0.1 -0.3 26

 27 Life insurance companies -2.1 1.5 3.2 2.0 1.8 5.2 8.6 7.4 4.2 0.7 10.0 27

 28 Finance companies 0.9 0.4 0.9 0.2 -0.3 1.6 0.1 -0.1 3.2 3.3 0.0 28

 29 Real estate investment trusts 0.0 0.0 0.3 0.7 4.9 17.9 5.6 9.7 36.9 19.5 -16.2 29

 30 Govt.-sponsored enterprises loans (2) 7.2 -3.5 8.3 2.9 11.2 8.8 -22.7 22.6 21.1 14.3 -13.8 30

 31 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Nonfinancial corporate business (FCS) 1.6 -0.9 0.8 0.2 1.6 1.1 -0.5 2.3 1.6 0.9 1.0 32

 33 Nonfinancial noncorporate business (FCS) 5.7 -2.6 7.5 2.7 9.6 7.7 -22.2 20.3 19.5 13.4 -14.7 33

 34 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Securitized loans held by ABS issuers -4.9 -3.9 1.7 0.2 -1.9 0.0 0.0 -0.0 0.0 0.0 0.7 35

 36 Liab.: Nonfinancial corporate business -4.9 -3.9 1.7 0.2 -1.9 0.0 0.0 -0.0 0.0 0.0 0.7 36

 37 Finance company loans to business -15.2 3.0 11.2 14.4 10.2 13.6 17.8 20.8 33.0 -17.3 -41.9 37

 38 Liab.: Nonfinancial corporate business -13.7 2.7 10.1 12.9 9.2 12.2 16.0 18.7 29.7 -15.5 -37.7 38

 39 Nonfinancial noncorporate business -1.5 0.3 1.1 1.4 1.0 1.4 1.8 2.1 3.3 -1.7 -4.2 39

 40 Margin accounts at brokers and dealers 75.2 -39.3 64.9 35.4 30.4 -80.1 -60.8 40.2 -299.9 -0.1 -94.7 40

 41 Liab.: Household sector 75.2 -39.3 64.9 35.4 30.4 -80.1 -60.8 40.2 -299.9 -0.1 -94.7 41

 42 Cash accounts at brokers and dealers 23.5 0.9 42.0 58.5 53.5 -48.3 6.3 -107.7 4.2 -96.1 159.8 42

 43 Asset: Household sector 23.5 0.9 42.0 58.5 53.5 -48.3 6.3 -107.7 4.2 -96.1 159.8 43

 44 Loans to nonfinancial corporate business (3) -53.3 24.9 -13.5 43.9 34.7 -29.8 49.1 -53.5 -86.6 -28.4 -52.2 44

 45 Asset: Household sector -0.6 -2.8 -2.5 5.0 -1.6 -2.3 3.5 -3.6 -10.4 1.5 -2.4 45

 46 Life insurance companies -3.7 5.4 0.4 2.6 6.3 -1.8 2.7 -8.0 -0.5 -1.5 -1.8 46

 47 Mutual funds -0.8 18.9 12.2 39.4 9.4 -15.6 23.5 -24.1 -50.9 -11.0 -48.8 47

 48 ABS issuers -34.0 -1.5 -2.3 -11.7 11.0 -1.0 45.2 -14.3 -31.2 -3.7 -33.9 48

 49 Brokers and dealers -12.7 6.9 -14.8 10.9 8.2 -10.0 -24.0 -5.6 2.5 -12.7 16.2 49

 50 Funding corporations -1.5 -2.0 -6.5 -2.3 1.5 0.8 -1.9 2.1 4.0 -0.9 18.6 50

(1) The Federal Home Loan Banks are included in the government-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 23.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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F.217 Total Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in mortgages -290.6 -177.2 -82.2 93.9 213.1 398.0 207.7 516.4 400.7 467.1 334.4 1

 2 Home -155.6 -91.9 -83.1 -1.9 52.7 152.2 3.4 247.5 187.6 170.1 168.8 2

 3 Multifamily residential -3.3 -0.3 30.6 35.3 59.1 105.0 83.3 100.6 89.9 146.3 77.7 3

 4 Commercial -139.8 -98.1 -35.7 48.9 89.8 132.0 112.3 159.5 114.3 141.8 85.7 4

 5 Farm 8.1 13.1 6.0 11.6 11.5 8.8 8.7 8.8 8.9 8.9 2.2 5

 6 Net borrowing -290.6 -177.2 -82.2 93.9 213.1 398.0 207.7 516.4 400.7 467.1 334.4 6

 7 Household sector -173.2 -79.3 -72.9 4.6 52.3 148.4 3.8 241.7 179.9 168.1 161.1 7

 8 Nonfinancial business -118.3 -111.4 -14.1 69.4 151.5 246.1 187.5 261.4 207.0 328.5 181.3 8

 9 Corporate -110.9 -80.4 -115.4 -1.2 20.2 39.0 57.7 40.3 2.1 55.7 33.3 9

 10 Noncorporate -7.4 -30.9 101.3 70.7 131.4 207.1 129.8 221.0 204.9 272.8 148.0 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 0.8 13.5 4.8 19.9 9.3 3.5 16.4 13.3 13.8 -29.5 -8.0 12

 13 Net change in assets -290.6 -177.2 -82.2 93.9 213.1 398.0 207.7 516.4 400.7 467.1 334.4 13

 14 Household sector -10.9 0.9 -18.1 -5.8 5.4 -3.4 -3.4 -2.1 -5.0 -3.2 -8.6 14

 15 Nonfinancial corporate business -1.6 -0.6 -1.9 1.6 4.9 4.9 4.9 4.9 4.9 4.9 4.9 15

 16 Nonfinancial noncorporate business 4.2 -5.8 -2.4 1.0 1.6 2.7 2.1 2.9 2.1 3.7 2.2 16

 17 Federal government -5.4 3.3 1.6 4.0 1.7 -0.7 3.5 -0.5 -4.0 -1.9 3.6 17

 18 State and local governments 14.1 -0.1 4.6 -0.1 6.4 20.6 19.1 15.6 25.3 22.6 27.1 18

 19 U.S.-chartered depository institutions -149.2 -105.3 13.7 -26.6 117.9 213.0 231.3 190.2 172.7 258.0 273.3 19

 20 Foreign banking offices in U.S. -2.5 -2.6 -1.9 -0.6 7.3 13.8 -0.6 14.2 22.7 18.8 18.8 20

 21 Banks in U.S.-affiliated areas -6.5 -2.4 1.5 -2.5 -2.1 -3.8 -10.4 -2.9 -0.9 -0.9 0.0 21

 22 Credit unions 0.9 4.5 8.3 18.6 26.9 32.7 25.9 39.0 35.4 30.4 26.4 22

 23 Property-casualty insurance companies -0.3 0.8 0.7 2.3 2.0 2.4 1.9 2.0 2.3 3.4 4.0 23

 24 Life insurance companies -8.6 15.0 11.9 18.8 21.6 40.0 27.8 37.4 32.1 62.6 30.2 24

 25 Private pension funds 2.8 -4.6 1.2 -0.7 0.2 -1.5 -2.3 -3.1 -1.2 0.7 -0.3 25

 26 State and local govt. retirement funds -0.3 -0.6 -1.0 -0.5 -0.3 -1.8 -9.5 2.1 -2.1 2.2 -1.0 26

 27 Government-sponsored enterprises (1) -71.0 -60.5 -71.4 72.5 4.3 64.7 -34.5 141.7 103.5 47.9 -9.4 27

 28 Agency- and GSE-backed mortgage pools 194.2 165.1 130.8 130.8 75.0 126.9 5.1 121.8 185.4 195.4 125.3 28

 29 ABS issuers -195.1 -165.0 -142.9 -247.3 -70.8 -52.9 -9.0 -7.9 -99.1 -95.6 -189.4 29

 30 Finance companies -54.2 -30.9 -25.7 -21.9 -8.7 -28.3 -18.1 -43.0 -28.1 -24.1 -15.3 30

 31 REITs -1.3 11.7 8.6 150.4 19.9 -31.2 -26.0 4.1 -45.3 -57.6 42.5 31

(1) Sum of home mortgages, multifamily residential mortgages, commercial mortgages, and farm mortgages.
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F.218 Home Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing -155.6 -91.9 -83.1 -1.9 52.7 152.2 3.4 247.5 187.6 170.1 168.8 1

 2 Household sector -176.0 -73.2 -70.7 0.8 45.0 138.0 -1.5 229.3 169.0 155.3 156.1 2

 3 Nonfinancial corporate business -6.8 -3.4 -0.5 0.3 1.5 1.9 2.0 2.0 1.7 2.0 1.9 3

 4 Nonfinancial noncorporate business 27.1 -15.4 -11.9 -2.9 6.2 12.2 2.9 16.3 16.8 12.8 10.8 4

 5 Net change in assets -155.6 -91.9 -83.1 -1.9 52.7 152.2 3.4 247.5 187.6 170.1 168.8 5

 6 Household sector -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 6

 7 Nonfinancial corporate business -0.9 -0.3 -1.1 0.9 4.2 4.2 4.2 4.2 4.2 4.2 4.2 7

 8 Nonfinancial noncorporate business 1.5 -2.1 -0.9 0.4 0.6 1.0 0.8 1.1 0.8 1.4 0.8 8

 9 Federal government -1.8 0.2 1.1 0.4 1.2 1.6 3.5 1.8 1.8 -0.6 2.0 9

 10 State and local governments 8.7 1.0 3.3 0.5 3.6 10.9 10.4 8.3 13.2 11.9 14.2 10

 11 U.S.-chartered depository institutions -48.9 -37.6 0.0 -99.2 26.7 55.0 123.3 64.5 -18.6 50.9 135.1 11

 12 Foreign banking offices in U.S. 0.1 0.3 0.5 -0.4 1.5 -1.4 -0.5 0.2 -1.0 -4.2 -0.4 12

 13 Banks in U.S.-affiliated areas -2.5 -2.4 2.3 -1.1 -1.5 -1.5 -3.6 -0.8 -0.8 -0.9 -0.6 13

 14 Credit unions 0.9 4.5 8.3 18.6 26.9 32.7 25.9 39.0 35.4 30.4 26.4 14

 15 Life insurance companies 0.3 -0.1 2.0 0.4 2.4 3.9 0.2 4.2 4.4 6.9 1.2 15

 16 Private pension funds -0.1 -0.3 -0.1 -0.2 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

 17 State and local govt. retirement funds -0.1 -0.2 -0.4 -0.2 -0.1 -0.7 -3.4 0.7 -0.8 0.8 -1.0 17

 18 Government-sponsored enterprises -76.4 -66.5 -83.0 89.1 3.0 45.8 -63.1 116.8 101.7 27.9 -20.8 18

 19 Agency- and GSE-backed mortgage pools 182.0 147.9 103.7 97.4 50.8 94.1 -9.1 86.4 158.2 140.9 88.9 19

 20 ABS issuers -160.8 -120.9 -106.7 -88.1 -57.3 -73.1 -54.1 -78.0 -84.8 -75.5 -66.4 20

 21 Finance companies -49.8 -18.4 -11.1 -17.3 -9.8 -14.6 -19.1 -17.9 -18.3 -3.1 -12.6 21

 22 REITs 0.2 11.0 6.9 5.0 8.5 2.3 -3.8 25.2 0.2 -12.5 6.0 22

 Memo:

 23 Charge-offs (2) 186.2 154.1 142.2 92.4 52.8 50.2 17.9 12.2 10.0 10.2 9.3 23

 24 Home equity loans included above (3) -52.8 -53.9 -62.7 -55.9 -24.9 -34.3 -44.9 -28.1 -34.5 -29.7 -35.2 24

 25 U.S.-chartered depository institutions -31.8 -41.1 -51.7 -46.9 -22.9 -31.7 -38.7 -26.3 -32.4 -29.3 -34.9 25

 26 Foreign banking offices in U.S. 0.0 -0.0 -0.0 0.1 0.1 -0.0 -0.0 -0.0 -0.0 0.0 -0.3 26

 27 Credit unions -6.4 -6.0 -6.5 -3.7 1.7 2.0 -1.7 3.4 3.0 3.4 3.3 27

 28 ABS issuers -5.4 -2.7 -2.0 -1.9 -1.7 -1.7 -1.7 -1.6 -2.1 -1.3 -1.6 28

 29 Finance companies -9.3 -4.0 -2.4 -3.6 -2.0 -3.0 -2.8 -3.7 -3.0 -2.5 -1.5 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from the flow (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing -3.3 -0.3 30.6 35.3 59.1 105.0 83.3 100.6 89.9 146.3 77.7 1

 2 Nonfinancial corporate business -0.2 -0.0 1.6 1.6 2.9 5.3 4.0 4.9 4.7 7.6 3.9 2

 3 Nonfinancial noncorporate business -3.6 -0.4 30.2 30.7 54.8 100.6 76.2 92.5 89.4 144.3 73.8 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 0.4 0.1 -1.1 3.0 1.4 -0.9 3.1 3.2 -4.2 -5.6 0.1 5

 6 Net change in assets -3.3 -0.3 30.6 35.3 59.1 105.0 83.3 100.6 89.9 146.3 77.7 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Nonfinancial noncorporate business 1.5 -2.0 -0.8 0.3 0.6 0.9 0.7 1.0 0.7 1.3 0.8 9

 10 Federal government -0.3 -0.3 -0.3 0.0 -0.6 -0.3 -0.3 -0.3 -0.7 0.1 -0.2 10

 11 State and local governments 4.4 -0.9 1.1 -0.5 2.3 8.0 7.1 6.0 10.0 8.8 10.7 11

 12 U.S.-chartered depository institutions -12.2 -6.6 10.2 29.4 38.0 51.0 35.9 43.7 60.4 64.0 36.1 12

 13 Foreign banking offices in U.S. -0.5 -0.6 -1.5 -0.4 0.2 1.2 0.6 0.8 2.2 1.0 0.9 13

 14 Life insurance companies -1.3 2.1 1.7 2.5 2.8 4.3 2.6 4.7 4.9 4.8 7.4 14

 15 Private pension funds 0.4 -0.3 -0.3 -0.3 -0.0 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 15

 16 State and local govt. retirement funds -0.1 -0.2 -0.3 -0.2 -0.1 -0.5 -2.8 0.6 -0.6 0.7 -0.3 16

 17 Government-sponsored enterprises 2.0 2.8 6.2 -21.9 -2.7 16.1 25.4 22.6 -0.2 16.5 8.7 17

 18 Agency- and GSE-backed mortgage pools 12.5 19.2 26.9 33.6 24.3 32.2 14.4 35.5 24.1 54.7 36.6 18

 19 ABS issuers -8.7 -11.9 -11.4 -8.8 -2.4 -6.1 1.6 -10.5 -10.6 -5.0 -23.0 19

 20 Finance companies -0.7 -1.5 -0.8 -0.8 0.1 -0.8 0.0 -3.1 -0.1 -0.0 0.0 20

 21 REITs -0.3 -0.2 0.1 2.3 -3.3 -0.6 -1.8 -0.3 0.1 -0.3 0.5 21
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F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing -139.8 -98.1 -35.7 48.9 89.8 132.0 112.3 159.5 114.3 141.8 85.7 1

 2 Household sector 2.8 -6.1 -2.2 3.8 7.4 10.4 5.3 12.5 10.8 12.9 5.0 2

 3 Nonfinancial corporate business -107.0 -81.5 -119.5 -7.2 11.9 28.8 48.7 30.5 -7.0 43.2 26.4 3

 4 Nonfinancial noncorporate business -35.9 -23.8 80.1 35.4 62.7 88.4 45.1 106.4 92.5 109.6 62.4 4

 5 REITs 0.4 13.3 6.0 16.9 7.9 4.4 13.2 10.1 18.0 -23.9 -8.1 5

 6 Net change in assets -139.8 -98.1 -35.7 48.9 89.8 132.0 112.3 159.5 114.3 141.8 85.7 6

 7 Household sector -1.1 -0.6 -0.3 0.4 1.4 2.2 1.9 2.1 2.3 2.6 2.8 7

 8 Nonfinancial corporate business -0.6 -0.2 -0.7 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 8

 9 Nonfinancial noncorporate business 1.1 -1.6 -0.7 0.3 0.5 0.7 0.6 0.8 0.6 1.0 0.6 9

 10 Federal government -3.7 3.2 0.8 3.9 0.2 -2.7 -0.4 -2.7 -5.8 -1.9 1.3 10

 11 State and local governments 0.9 -0.2 0.2 -0.1 0.5 1.6 1.4 1.2 2.0 1.8 2.1 11

 12 U.S.-chartered depository institutions -95.1 -62.9 -8.1 38.8 60.1 105.2 70.3 80.3 129.0 141.2 100.2 12

 13 Foreign banking offices in U.S. -2.1 -2.3 -0.9 0.2 5.5 13.9 -0.8 13.3 21.4 21.8 18.4 13

 14 Banks in U.S.-affiliated areas -4.0 -0.1 -0.8 -1.4 -0.5 -2.2 -6.7 -2.1 -0.2 0.0 0.7 14

 15 Property-casualty insurance companies -0.3 0.8 0.7 2.3 2.0 2.4 1.9 2.0 2.3 3.4 4.0 15

 16 Life insurance companies -6.8 12.3 9.8 15.4 14.9 31.4 24.6 28.1 22.5 50.4 21.2 16

 17 Private pension funds 2.5 -4.0 1.6 -0.1 0.2 -1.1 -1.9 -2.7 -0.8 1.1 0.1 17

 18 State and local govt. retirement funds -0.1 -0.2 -0.3 -0.2 -0.1 -0.6 -3.2 0.7 -0.7 0.8 0.3 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers -25.6 -32.2 -24.9 -150.5 -11.1 26.3 43.5 80.5 -3.7 -15.1 -100.0 20

 21 Finance companies -3.7 -11.0 -13.8 -3.8 1.1 -12.9 1.0 -22.0 -9.7 -21.0 -2.7 21

 22 REITs -1.2 0.9 1.5 143.2 14.7 -32.9 -20.5 -20.8 -45.6 -44.7 36.1 22

F.221 Farm Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 8.1 13.1 6.0 11.6 11.5 8.8 8.7 8.8 8.9 8.9 2.2 1

 2 Nonfinancial corporate business 3.1 4.5 3.0 4.1 3.9 2.9 3.0 3.0 2.7 2.8 1.2 2

 3 Nonfinancial noncorporate business 5.0 8.6 3.0 7.5 7.6 5.9 5.6 5.8 6.1 6.1 1.0 3

 4 Net change in assets 8.1 13.1 6.0 11.6 11.5 8.8 8.7 8.8 8.9 8.9 2.2 4

 5 Household sector -1.7 9.5 -9.8 1.8 12.0 2.3 2.6 3.8 0.7 2.3 -3.4 5

 6 Nonfinancial noncorporate business 0.1 -0.1 -0.0 0.0 0.0 0.1 0.0 0.1 0.0 0.1 0.0 6

 7 Federal government 0.4 0.3 0.1 -0.3 0.9 0.7 0.7 0.7 0.7 0.6 0.5 7

 8 State and local governments 0.1 -0.0 0.0 -0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 8

 9 U.S.-chartered depository institutions 7.0 1.7 11.6 4.4 -6.9 1.8 1.8 1.7 1.8 1.9 1.9 9

 10 Foreign banking offices in U.S. 0.0 -0.0 0.0 -0.0 0.2 0.0 0.0 -0.1 -0.0 0.2 -0.1 10

 11 Life insurance companies -0.9 0.6 -1.5 0.5 1.4 0.4 0.4 0.4 0.4 0.4 0.4 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 3.4 3.3 5.4 5.4 3.9 2.7 3.2 2.3 2.0 3.4 2.8 13

 14 Agency- and GSE-backed mortgage pools -0.2 -2.1 0.3 -0.2 -0.1 0.7 -0.2 -0.1 3.2 -0.1 -0.1 14

(1) Excludes mortgages on farm houses.
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F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities (Households) -28.1 111.1 164.1 175.8 221.8 231.6 203.9 266.6 244.1 211.9 214.0 1

 2 Net change in assets -28.1 111.1 164.1 175.8 221.8 231.6 203.9 266.6 244.1 211.9 214.0 2

 3 Households (nonprofit organizations) (1) -11.2 -4.3 -9.0 -6.2 -4.2 -3.4 -3.0 -3.1 -2.4 -5.3 -5.6 3

 4 Nonfinancial corporate business -2.5 2.3 1.0 -4.6 0.9 -0.8 14.9 -4.2 -13.8 -0.0 9.5 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 131.1 131.0 127.5 113.3 110.7 103.4 111.2 103.2 96.1 103.2 89.5 6

 7 U.S.-chartered depository institutions -70.3 7.1 28.1 52.9 71.5 100.2 43.9 89.4 127.3 140.3 85.0 7

 8 Credit unions -10.7 -3.4 20.6 21.9 37.2 39.0 37.4 45.6 36.0 36.8 53.1 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers -42.3 -4.1 3.8 -0.8 0.6 -3.8 -4.1 18.7 -17.2 -12.5 -3.4 10

 11 Finance companies -22.2 -17.4 -7.8 -0.6 5.0 -3.0 3.7 17.1 18.0 -50.6 -14.2 11

 Memo:

 12 Credit card loans (3) -69.8 2.1 4.2 12.0 33.8 46.4 17.6 62.3 51.0 54.6 47.9 12

 13 Auto loans -40.6 17.1 60.0 69.5 79.1 80.4 79.1 84.8 98.4 59.4 73.6 13

 14 Student loans (4) 84.2 105.3 94.2 91.3 89.5 83.2 90.2 80.7 85.7 76.0 74.3 14

 15 Other consumer credit (5) -1.9 -13.4 5.7 3.1 19.3 21.7 16.9 38.9 9.1 21.9 18.3 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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F.223 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 18.0 -286.0 -93.7 89.7 262.6 -182.9 381.4 139.3 -774.8 -477.6 -384.1 1

 2 Nonfinancial corporate business -250.7 -454.6 -344.9 -352.9 -392.2 -562.7 -591.4 -490.4 -626.2 -542.6 -703.1 2

 3 Domestic financial sectors 189.5 161.6 155.5 158.3 218.3 207.2 297.8 160.6 97.2 273.2 127.4 3

 4 U.S.-chartered depository institutions 11.9 6.4 1.6 2.2 2.7 9.5 24.0 2.2 2.2 9.5 3.4 4

 5 Property-casualty insurance companies -12.7 -10.7 -14.5 -7.6 -16.9 -22.0 -19.4 -20.5 -24.8 -23.4 -24.1 5

 6 Life insurance companies -4.8 -11.5 -9.9 -9.2 -14.9 -10.0 -22.5 -3.7 -7.5 -6.3 -6.9 6

 7 Closed-end funds 0.5 -2.9 2.7 -2.6 -10.7 -22.8 -10.7 -3.7 -39.8 -37.0 -18.6 7

 8 Exchange-traded funds 118.0 117.6 185.2 179.0 239.2 229.8 220.5 164.2 171.8 362.7 138.1 8

 9 REITs 28.2 37.5 47.6 46.2 32.7 27.1 53.9 33.1 8.1 13.3 28.6 9

 10 Government-sponsored enterprises 36.2 26.7 1.5 -1.7 -1.7 -1.4 -7.6 -3.2 -1.4 6.6 -1.8 10

 11 Brokers and dealers -11.1 14.1 -50.7 -31.0 -11.7 3.5 10.5 -9.7 39.0 -25.7 24.2 11

 12 Holding companies 19.8 2.9 0.6 -17.1 -0.3 -6.5 48.9 2.0 -50.4 -26.4 -15.5 12

 13 Funding corporations (2) 3.5 -18.4 -8.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Rest of the world (3) 79.2 7.0 95.8 284.3 436.5 172.5 674.9 469.0 -245.7 -208.2 191.6 14

 15 Net purchases 18.0 -286.0 -93.7 89.7 262.6 -182.9 381.4 139.3 -774.8 -477.6 -384.1 15

 16 Household sector -212.4 -257.9 -192.7 176.4 69.3 -85.4 248.8 41.3 -811.0 179.2 232.1 16

 17 Federal government 24.1 40.3 -13.2 -4.8 -1.6 -0.0 -0.4 0.6 -0.2 -0.0 0.0 17

 18 State and local governments 0.2 -3.4 1.1 -0.5 2.5 8.6 7.7 6.5 10.7 9.5 11.5 18

 19 Monetary authority 1.3 -26.4 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 -1.8 1.0 -10.5 0.8 0.7 2.0 -1.7 2.2 2.2 5.1 -29.5 20

 21 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 0.0 21

 22 Property-casualty insurance companies -20.9 2.9 4.6 3.7 2.6 -2.1 -1.0 -3.8 9.8 -13.3 -4.0 22

 23 Life insurance companies 8.3 15.1 -4.6 -12.4 -4.6 -3.0 4.4 -3.4 -9.6 -3.4 2.9 23

 24 Private pension funds 21.6 -82.6 -23.7 -207.7 -102.4 -81.0 -14.8 -46.9 -96.1 -166.1 -152.1 24

 25 Federal government retirement funds 5.4 -4.2 -4.1 9.1 3.5 0.2 5.7 -3.8 -1.2 -0.0 -11.9 25

 26 State and local govt. retirement funds -74.1 -64.8 -75.4 -179.0 -108.8 -56.6 -39.3 -49.7 12.1 -149.6 -82.7 26

 27 Mutual funds 69.0 7.0 -46.3 197.3 94.2 55.8 100.8 166.9 94.2 -138.6 -118.5 27

 28 Closed-end funds -4.7 -1.2 -8.5 -16.1 -6.9 -17.7 -9.2 -9.0 -22.8 -29.9 -10.0 28

 29 Exchange-traded funds 88.3 71.6 132.9 166.8 188.2 174.9 143.4 156.6 85.8 313.6 11.9 29

 30 Brokers and dealers -18.5 -5.0 9.7 18.6 8.7 -10.3 -103.9 11.2 -22.7 74.0 -124.1 30

 31 Funding corporations 1.3 -26.4 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) 130.9 48.1 137.0 -62.4 117.3 -168.2 40.7 -129.4 -26.0 -558.1 -109.8 32

(1) Excludes mutual fund shares shown on table F.224.

(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.224 Mutual Fund Shares (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues 395.9 200.7 386.2 346.0 309.4 95.3 239.0 233.7 -28.8 -62.8 -33.9 1

 2 Net purchases 395.9 200.7 386.2 346.0 309.4 95.3 239.0 233.7 -28.8 -62.8 -33.9 2

 3 Household sector 170.3 128.9 254.0 248.9 181.4 129.4 145.5 170.7 185.7 15.6 -38.2 3

 4 Nonfinancial corporate business 11.1 -12.8 -1.7 1.2 15.1 7.4 7.4 7.4 7.4 7.4 6.2 4

 5 State and local governments 3.0 -0.2 0.6 -0.3 1.3 4.4 4.0 3.3 5.5 4.9 5.9 5

 6 U.S.-chartered depository institutions -5.8 -0.8 -1.1 1.6 -0.7 -0.9 -2.5 3.8 -3.3 -1.6 4.1 6

 7 Credit unions 0.0 0.4 0.2 -0.5 -0.2 -0.1 -0.6 0.6 0.5 -1.0 0.1 7

 8 Property-casualty insurance companies -0.1 -0.7 1.8 1.0 1.4 1.0 1.0 1.0 1.0 1.0 1.0 8

 9 Life insurance companies 63.2 11.0 2.3 -19.1 -33.4 -29.1 -27.0 -32.6 -37.7 -19.2 -42.2 9

 10 Private pension funds 97.7 70.8 73.0 104.7 123.4 7.2 22.4 41.4 -48.6 13.7 16.4 10

 11 State and local govt. retirement funds 1.2 -66.5 -22.3 25.0 -11.7 -19.7 -13.5 -37.0 -35.1 6.9 -4.4 11

 12 Rest of the world 55.2 70.7 79.5 -16.4 32.7 -4.3 102.4 75.0 -104.2 -90.5 17.2 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds and exchange-traded funds.
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F.225 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in trade payables 154.9 128.6 134.9 203.2 181.9 84.4 97.8 165.1 24.2 50.2 9.8 1

 2 Household sector -29.4 1.2 4.0 1.0 3.1 1.2 1.4 1.8 1.0 0.8 0.3 2

 3 Nonfinancial corporate business 156.3 25.2 65.4 101.3 108.7 -25.9 26.7 32.7 -83.0 -79.9 -83.0 3

 4 Nonfinancial noncorporate business 30.3 54.8 13.3 34.0 34.8 51.5 49.8 50.4 34.0 71.6 37.6 4

 5 Federal government 5.2 8.8 13.4 18.8 -0.1 12.1 -16.0 25.9 26.7 11.9 9.5 5

 6 State and local governments 38.5 38.4 38.1 38.0 38.8 39.0 38.1 39.1 39.5 39.1 39.3 6

 7 Brokers and dealers -52.0 -3.8 -0.0 0.3 3.4 8.4 5.0 17.7 2.4 8.4 -4.1 7

 8 Rest of the world 6.0 4.0 0.7 9.8 -6.8 -2.0 -7.2 -2.5 3.6 -1.7 10.2 8

 9 Net change in trade receivables 156.3 171.1 75.1 333.3 121.6 57.5 76.7 73.0 53.0 27.1 46.5 9

 10 Nonfinancial corporate business 96.9 83.4 52.6 261.6 70.8 -12.4 -3.0 -13.8 -0.6 -32.4 -31.1 10

 11 Nonfinancial noncorporate business 37.0 61.0 4.6 48.8 30.4 49.8 38.7 53.3 38.4 68.8 41.3 11

 12 Federal government -0.7 4.8 2.6 3.3 -5.2 -0.3 9.8 -2.1 -5.1 -3.6 14.9 12

 13 State and local governments 13.1 5.6 5.3 9.5 10.0 1.7 0.4 10.0 -3.7 0.0 -2.1 13

 14 Property-casualty insurance companies 0.8 3.4 4.8 3.3 5.5 6.0 21.3 12.9 5.5 -15.6 16.8 14

 15 ABS issuers -9.5 -4.2 -6.4 -5.4 -4.4 2.7 0.8 2.5 -2.0 9.5 5.8 15

 16 Rest of the world 18.6 17.1 11.6 12.3 14.3 9.9 8.7 10.0 20.5 0.5 0.8 16

 17 Discrepancy -1.4 -42.5 59.7 -130.1 60.3 26.9 21.1 92.2 -28.8 23.1 -36.7 17

F.226 Life Insurance Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in liabilities 16.7 79.5 -14.8 20.1 47.9 44.5 58.3 33.1 56.8 29.8 61.8 1

 2 Federal government 0.9 1.3 0.3 0.2 0.8 -0.1 -2.1 0.9 -0.6 1.3 -0.4 2

 3 Life insurance companies 15.9 78.2 -15.1 19.9 47.1 44.6 60.4 32.2 57.4 28.5 62.2 3

 4 Net change in assets 16.7 79.5 -14.8 20.1 47.9 44.5 58.3 33.1 56.8 29.8 61.8 4

 5 Households 8.5 71.8 -29.5 9.3 37.0 33.9 49.0 20.5 47.2 19.1 52.3 5

 6 U.S.-chartered depository institutions 4.5 5.2 7.4 5.7 5.9 6.5 5.2 8.6 5.6 6.6 5.5 6

 7 Holding companies 3.8 2.4 7.3 5.1 5.0 4.1 4.2 4.0 4.0 4.0 4.0 7
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F.227 Pension Entitlements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 669.5 512.1 543.2 471.7 429.7 398.1 360.6 419.6 344.3 468.0 436.8 1

 2 Life insurance companies (1) 102.3 82.3 52.7 28.9 26.1 46.9 -41.8 65.6 111.2 52.5 85.4 2

 3 Private pension funds (2) 225.2 132.4 186.1 135.6 120.4 48.6 98.8 57.6 -33.8 71.9 53.0 3

 4 Federal government retirement funds (3) 102.1 113.0 102.1 107.6 112.8 108.3 103.6 103.3 106.6 119.9 104.5 4

 5 State and local govt. retirement funds 239.9 184.4 202.3 199.5 170.5 194.3 200.0 193.1 160.3 223.8 194.0 5

 6 Net change in assets (Households) (4) 669.5 512.1 543.2 471.7 429.7 398.1 360.6 419.6 344.3 468.0 436.8 6

 Memo:

 7 Individual Retirement Accounts (IRAs): (5) 133.5 250.0 126.9 279.4 192.0 224.6 218.8 322.1 172.7 184.9 ND 7

 8 U.S.-chartered depository institutions 26.6 20.3 24.4 -0.4 0.1 18.0 -34.4 35.4 57.1 13.8 ND 8

 9 Credit unions 3.0 1.2 1.4 -0.7 -1.6 -0.2 -0.9 -0.2 0.2 -0.1 ND 9

 10 Life insurance companies 28.0 15.8 25.8 18.3 15.0 9.3 6.6 3.1 -18.9 46.6 ND 10

 11 Money market mutual funds -25.0 9.0 5.0 13.0 -10.0 -3.0 -28.0 8.0 32.0 -24.0 ND 11

 12 Mutual funds 119.0 46.2 78.9 153.4 86.0 60.5 120.6 103.7 -37.0 54.5 ND 12

 13 Other self-directed accounts -18.1 157.4 -8.5 95.8 102.4 140.1 154.8 172.0 139.3 94.2 ND 13

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Assets of the household sector (F.101). Figures for depositories (lines 8 and 9) include Keogh accounts. Variable annuities in IRAs are included in the life insurance sector (line 10)

 and excluded from the money market mutual fund and mutual fund sectors (lines 11 and 12).

F.228 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in taxes payable by all 19.4 20.1 16.8 11.8 18.9 -6.8 74.5 -29.0 -33.2 -39.7 23.6 1

 businesses

 2 Nonfinancial corporate business 7.2 8.8 2.3 -9.1 -1.4 -1.9 24.3 18.2 -13.6 -36.3 -36.5 2

 3 Nonfinancial noncorporate business -0.7 0.6 7.6 3.2 3.7 8.6 14.7 6.5 4.7 8.4 5.0 3

 4 U.S.-chartered depository institutions 6.6 10.6 7.0 0.1 15.2 -4.4 19.1 -27.6 8.6 -17.7 41.4 4

 5 Property-casualty insurance companies 5.6 -4.4 3.8 19.1 1.9 -8.2 1.4 -18.9 -23.4 8.1 5.3 5

 6 Life insurance companies 2.6 5.2 -4.6 -2.3 -1.9 -0.7 10.0 -5.6 -8.9 1.8 5.6 6

 7 Finance companies 0.3 0.5 0.2 0.1 1.0 0.5 1.7 1.0 0.1 -0.6 -0.7 7

 8 Brokers and dealers -2.1 -1.1 0.5 0.6 0.3 -0.8 3.3 -2.5 -0.7 -3.4 3.4 8

 9 Net change in business taxes receivable 28.1 28.1 31.6 31.3 -16.2 22.8 97.8 19.6 -25.8 -0.6 69.0 9

 10 Federal government 27.1 25.6 22.0 27.2 -19.9 14.2 79.8 22.9 -37.2 -8.8 59.9 10

 11 State and local governments 1.0 2.4 9.5 4.1 3.7 8.6 18.0 -3.3 11.4 8.2 9.2 11

 12 Discrepancy -8.6 -8.0 -14.7 -19.6 35.1 -29.6 -23.3 -48.6 -7.4 -39.1 -45.5 12

F.229 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total household investment 167.3 231.5 90.3 173.2 24.2 23.9 16.8 20.0 48.3 10.3 3.8 1

 2 Nonfinancial noncorporate business 166.4 234.4 83.6 178.8 22.2 20.9 18.0 22.7 23.0 19.7 8.2 2

 3 Brokers and dealers 0.9 -2.9 6.7 -5.6 2.0 3.0 -1.1 -2.7 25.3 -9.4 -4.4 3
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F.230 Direct Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 301.1 419.1 339.7 328.6 336.9 320.0 307.5 337.6 249.9 385.2 313.7 1

 2 Equity 343.0 401.5 322.6 336.9 355.6 312.8 316.0 337.5 306.2 291.7 278.1 2

 3 Equity (other than reinvested earnings) 40.6 89.1 37.2 17.2 8.0 18.4 -1.1 36.9 25.7 12.2 19.8 3

 4 Reinvested earnings 302.5 312.4 285.3 319.7 347.6 294.4 317.1 300.6 280.5 279.5 258.3 4

 5 Of which: Current-cost adjustment 23.3 22.5 21.5 20.7 20.4 20.1 20.1 20.1 20.0 20.0 19.9 5

 6 Intercompany debt (2) -42.0 17.5 17.1 -8.3 -18.7 7.2 -8.5 0.1 -56.4 93.5 35.6 6

 7 U.S. parents’ claims 1.5 42.2 18.1 9.6 -2.1 19.6 -34.1 46.0 -26.7 93.0 53.6 7

 8 Less: U.S. parents’ liabilities 43.5 24.7 1.0 17.9 16.6 12.4 -25.5 45.8 29.7 -0.4 18.0 8

 9 Asset: Nonfinancial corporate business 303.3 403.9 319.2 305.0 311.0 300.1 299.4 285.7 237.6 377.5 286.9 9

 10 Of which: Current-cost adjustment 23.3 22.5 21.5 20.7 20.4 20.1 20.1 20.1 20.0 20.0 19.9 10

 11 U.S.-chartered depository institutions 2.7 -6.2 -1.6 0.3 4.7 1.8 -7.1 2.6 -5.1 16.7 8.8 11

 12 Property-casualty insurance companies -22.2 1.1 0.4 10.2 4.0 2.5 2.1 11.2 1.5 -4.6 6.4 12

 13 Life insurance companies 1.9 3.3 5.9 2.9 2.2 3.7 7.5 5.4 -2.0 4.0 -0.8 13

 14 Finance companies 6.8 12.0 8.5 -1.4 7.9 3.1 0.0 13.5 9.3 -10.3 5.6 14

 15 Brokers and dealers 8.7 4.9 7.3 11.7 7.2 8.8 5.5 19.3 8.5 1.8 6.8 15

 Foreign direct investment in U.S.:

 16 Liab.: Nonfinancial corporate business 157.0 192.7 188.3 184.9 97.1 347.2 766.2 312.5 165.0 145.1 176.2 16

 17 Of which: Current-cost adjustment 7.8 6.2 5.4 5.1 5.0 4.9 4.9 4.9 4.9 4.9 4.8 17

 18 Nonfinancial noncorporate business 0.3 0.0 0.4 0.6 0.8 1.8 3.6 2.2 0.8 0.6 -1.6 18

 19 Foreign banking offices in U.S. 12.4 26.0 -1.9 9.5 0.7 4.4 -6.2 18.0 1.5 4.3 10.9 19

 20 Property-casualty insurance companies 2.8 -2.2 -8.2 11.5 -0.5 10.7 -2.5 -1.2 6.5 40.2 -1.5 20

 21 Life insurance companies 6.3 -5.4 2.4 0.9 5.8 9.2 28.4 2.8 -1.1 6.7 0.3 21

 22 Finance companies 13.2 6.1 -3.3 2.3 3.3 -6.4 0.0 -0.3 -28.6 3.2 3.2 22

 23 Brokers and dealers 13.2 18.2 15.4 6.2 3.7 17.3 7.1 19.4 30.2 12.4 19.7 23

 24 Funding corporations 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 24

 25 Asset: Rest of the world (1) 205.9 236.1 193.8 216.6 111.6 384.8 797.1 354.0 175.0 213.0 207.9 25

 26 Equity 203.1 185.1 193.8 211.8 68.9 302.9 638.5 224.9 145.0 203.3 181.0 26

 27 Equity (other than reinvested earnings) 140.5 106.5 106.3 127.1 -30.1 225.7 567.3 153.9 62.6 119.2 88.6 27

 28 Reinvested earnings 62.7 78.6 87.5 84.7 99.0 77.2 71.2 71.0 82.4 84.1 92.4 28

 29 Of which: Current-cost adjustment 7.8 6.2 5.4 5.1 5.0 4.9 4.9 4.9 4.9 4.9 4.8 29

 30 Intercompany debt 2.7 51.0 -0.0 4.8 42.7 81.9 158.6 129.1 30.1 9.7 26.9 30

 31 U.S. affiliates’ liabilities 12.7 47.7 37.2 57.5 46.4 94.6 151.8 172.0 21.8 32.8 26.3 31

 32 Less: U.S. affiliates’ claims 10.0 -3.4 37.2 52.7 3.7 12.7 -6.8 42.9 -8.3 23.0 -0.6 32

 Memo:

 Direct investment, asset/liability presentation:

 33 Net U.S. acquisition of direct investment assets 354.6 440.4 377.9 399.2 357.2 345.1 275.1 426.3 271.3 407.7 331.1 33

 34 Equity (line 2) 343.0 401.5 322.6 336.9 355.6 312.8 316.0 337.5 306.2 291.7 278.1 34

 35 Intercompany debt 11.5 38.9 55.3 62.3 1.6 32.3 -40.9 88.9 -35.0 116.1 53.0 35

 36 U.S. parents’ claims (line 7) 1.5 42.2 18.1 9.6 -2.1 19.6 -34.1 46.0 -26.7 93.0 53.6 36

 37 U.S. affiliates’ claims (line 32) 10.0 -3.4 37.2 52.7 3.7 12.7 -6.8 42.9 -8.3 23.0 -0.6 37

 38 Net U.S. incurrence of direct investment liabilities 259.3 257.4 232.0 287.2 131.8 409.9 764.7 442.7 196.4 235.6 225.3 38

 39 Equity (line 26) 203.1 185.1 193.8 211.8 68.9 302.9 638.5 224.9 145.0 203.3 181.0 39

 40 Intercompany debt 56.2 72.4 38.2 75.4 63.0 107.0 126.2 217.8 51.4 32.3 44.3 40

 41 U.S. parents’ liabilities (line 8) 43.5 24.7 1.0 17.9 16.6 12.4 -25.5 45.8 29.7 -0.4 18.0 41

 42 U.S. affiliates’ liabilities (line 31) 12.7 47.7 37.2 57.5 46.4 94.6 151.8 172.0 21.8 32.8 26.3 42

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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F.231 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 475.5 986.7 1033.5 892.8 1596.5 882.7 893.0 950.5 1621.2 66.3 2035.9 1

 2 Household sector 2.7 -0.4 0.6 3.0 1.2 1.5 4.6 3.2 -1.6 -0.2 5.1 2

 3 Nonfinancial corporate business 468.9 786.2 767.7 596.3 995.5 581.2 -53.0 126.4 874.0 1377.2 824.3 3

 4 Nonfinancial noncorporate business -54.3 -21.0 51.8 41.8 39.0 7.2 64.5 -2.4 -7.4 -25.8 -25.1 4

 5 Federal government 45.0 53.0 55.4 4.1 36.2 26.9 387.2 576.0 475.2 -1330.7 17.3 5

 6 State and local governments 249.1 316.3 312.2 244.4 237.1 280.2 180.0 272.2 322.5 346.1 257.9 6

 7 Monetary authority 28.7 -27.2 4.0 9.8 3.5 0.6 75.5 -47.4 -72.7 47.0 67.1 7

 8 U.S.-chartered depository institutions -8.9 -94.9 147.1 120.1 318.5 61.0 3.4 165.8 98.1 -23.1 122.0 8

 9 Foreign banking offices in U.S. -30.5 10.1 -35.7 -33.2 -11.7 -9.1 11.3 -45.8 26.2 -28.3 164.0 9

 10 Banks in U.S.-affiliated areas -5.9 -3.9 -2.0 -3.0 -1.6 -2.3 -3.4 3.2 -7.0 -2.0 1.6 10

 11 Credit unions -8.3 1.3 0.3 1.5 1.2 0.5 7.2 -0.8 -9.8 5.6 22.3 11

 12 Property-casualty insurance companies 6.3 35.2 -1.0 -0.3 14.8 14.8 -11.2 33.5 41.2 -4.4 25.5 12

 13 Life insurance companies 44.5 38.7 36.1 -10.4 39.8 -5.5 112.8 -106.0 60.9 -89.9 190.2 13

 14 Government-sponsored enterprises -42.2 -49.2 -6.1 -9.4 -3.6 -4.6 -4.2 -20.3 4.2 1.9 -5.9 14

 15 Finance companies -71.7 -19.1 -22.3 -28.2 -2.5 -17.2 -13.7 -16.5 -41.2 2.4 -89.7 15

 16 REITs 4.1 7.1 25.4 -22.1 6.9 -2.1 -4.1 6.3 41.6 -52.4 22.1 16

 17 Brokers and dealers 9.0 -19.4 -7.7 41.3 -19.9 1.9 195.8 68.9 -33.6 -223.4 81.1 17

 18 Holding companies -48.7 -33.3 -97.9 57.1 -31.4 -130.2 -202.3 -12.4 -265.1 -41.0 14.7 18

 19 Funding corporations -115.2 -125.7 -54.4 -96.9 -15.2 70.4 101.6 -5.4 63.5 122.0 336.6 19

 20 Rest of the world 2.7 132.9 -140.0 -23.3 -11.0 7.6 40.8 -47.8 52.1 -14.7 4.8 20

 21 Net change in assets 122.9 689.4 502.9 1308.7 1237.4 1182.6 2199.8 1205.2 1226.3 99.2 2109.2 21

 22 Household sector 8.3 61.4 -9.5 48.5 7.8 40.8 31.4 29.2 71.3 31.4 58.9 22

 23 Nonfinancial corporate business 214.8 25.8 107.1 257.8 361.6 647.4 1050.7 521.3 487.7 530.1 466.5 23

 24 Nonfinancial noncorporate business 105.0 109.1 222.4 228.8 136.5 166.6 146.1 206.1 95.1 219.3 115.8 24

 25 State and local governments -22.0 -1.1 5.7 3.9 7.6 15.8 14.2 12.9 30.7 5.3 15.0 25

 26 Federal government -3.6 1.8 -4.4 4.1 12.5 14.4 19.7 17.4 11.0 9.6 14.3 26

 27 Monetary authority 7.3 142.4 -25.6 32.3 -0.5 -20.2 -32.4 -14.8 -20.2 -13.4 -18.2 27

 28 U.S.-chartered depository institutions -99.7 -68.5 -10.7 -4.6 -8.1 12.6 133.4 91.6 -183.6 8.8 147.9 28

 29 Foreign banking offices in U.S. -15.3 15.0 -0.3 13.1 14.4 -13.0 17.8 -23.7 -35.6 -10.5 22.8 29

 30 Banks in U.S.-affiliated areas 4.5 0.8 0.2 8.6 12.8 1.5 -8.2 22.4 -3.4 -4.6 21.8 30

 31 Credit unions 41.3 -12.2 1.0 -1.2 5.4 6.1 -13.4 8.0 6.7 23.1 -19.1 31

 32 Property-casualty insurance companies -0.1 -0.0 0.0 0.1 0.0 0.0 0.0 0.1 -0.0 0.0 -0.0 32

 33 Life insurance companies -7.6 56.4 26.8 28.0 72.0 1.1 64.2 -64.3 36.0 -31.7 93.4 33

 34 Private pension funds -3.8 49.5 15.6 132.3 84.8 72.9 30.6 66.8 50.5 143.7 111.3 34

 35 Federal government retirement funds 20.2 20.8 50.4 -9.3 22.8 16.0 402.2 567.0 470.5 -1375.8 22.9 35

 36 State and local govt. retirement funds 282.2 310.1 310.4 258.0 235.6 285.4 204.7 272.5 300.5 364.0 260.2 36

 37 Money market mutual funds -3.9 -0.8 6.2 2.6 -14.6 -7.0 -27.8 -56.6 -18.8 75.2 -63.9 37

 38 Mutual funds -115.6 11.3 -94.5 -23.8 102.7 -25.0 -123.2 -282.4 122.7 182.7 -23.1 38

 39 Government-sponsored enterprises 29.3 -0.1 4.1 13.1 -11.0 -6.5 40.2 6.2 -48.4 -24.0 31.9 39

 40 ABS issuers -9.7 -8.5 -0.4 -8.4 9.2 1.6 6.2 -5.9 -12.2 18.3 -3.4 40

 41 Finance companies -101.2 -5.9 -34.2 -16.9 9.2 -13.8 6.7 -87.4 -115.0 140.4 -55.9 41

 42 REITs 1.3 8.5 25.8 8.8 13.4 11.8 26.4 17.6 16.1 -13.0 22.2 42

 43 Brokers and dealers -112.9 -106.6 -68.7 145.2 49.3 -57.2 270.6 -252.4 8.4 -255.3 442.6 43

 44 Holding companies -37.7 60.6 -31.8 175.0 111.2 -7.1 -134.5 158.8 -96.4 43.9 240.0 44

 45 Funding corporations -58.4 19.6 7.2 13.0 2.8 38.3 74.1 -5.1 52.7 31.8 205.1 45

 46 Discrepancy 352.6 297.3 530.6 -415.9 359.1 -299.9 -1306.8 -254.7 394.9 -33.0 -73.3 46
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F.232 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 2.3 2.6 2.4 2.2 2.3 2.2 8.7 0.0 0.2 0.0 0.0 1

 2 Asset: Federal government 2.3 2.6 2.4 2.2 2.3 2.2 8.7 0.0 0.2 0.0 0.0 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 0.9 0.4 0.5 0.1 1.1 0.9 1.0 1.2 0.6 0.7 2.5 3

 4 Asset: U.S.-chartered depository institutions 0.9 0.4 0.5 0.1 1.1 0.9 1.0 1.2 0.6 0.7 2.5 4

 Equity in govt.-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises -2.7 -5.9 -1.8 0.5 1.2 1.3 -4.3 4.2 -2.4 7.6 -5.9 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.1 -0.0 0.0 0.0 0.1 0.1 0.3 -0.1 0.0 0.1 0.4 6

 7 Nonfinancial noncorporate (FCS) 0.4 0.3 0.1 0.6 0.8 0.5 0.4 0.5 0.6 0.6 0.3 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) -3.0 -6.1 -2.2 -0.6 -0.6 -1.3 -6.1 1.8 -5.1 4.1 -6.3 9

 10 Credit unions (FHLB) -0.2 0.7 0.1 -0.6 0.6 0.4 0.3 0.8 0.5 0.1 0.6 10

 11 Property-casualty insurance companies (FHLB) -0.1 -0.0 0.0 0.1 0.0 0.0 0.0 0.1 -0.0 0.0 -0.0 11

 12 Life insurance companies (FHLB) -0.0 -0.7 0.0 0.8 0.1 0.4 0.5 0.6 -0.5 1.0 0.3 12

 13 Finance companies 0.1 -0.0 0.0 0.0 -0.0 0.1 0.0 0.0 0.1 0.2 -0.0 13

 14 Real estate investment trusts (FHLB) 0.0 0.0 0.0 0.0 0.3 1.1 0.3 0.6 1.9 1.4 -1.0 14

 Holding company net transactions with subsidiaries:

 15 Liab.: U.S.-chartered depository institutions 33.4 76.1 101.2 59.2 195.9 38.1 -81.7 115.4 76.7 42.0 147.0 15

 16 Property-casualty insurance companies 0.0 0.0 -6.8 -6.0 0.1 -0.8 -5.5 2.8 0.8 -1.1 -2.1 16

 17 Life insurance companies 22.2 9.3 10.3 -1.6 0.8 0.5 1.1 0.2 0.9 -0.2 3.5 17

 18 Finance companies -39.5 -20.3 -3.5 -15.8 -13.1 -2.6 -4.7 -10.0 -1.0 5.5 -14.3 18

 19 Brokers and dealers -24.3 -13.0 52.3 56.2 4.8 77.8 -67.1 220.8 17.8 139.6 87.9 19

 20 Rest of the world 10.6 30.6 -51.5 -16.9 -14.6 5.9 34.9 -47.1 51.8 -16.0 8.2 20

 21 Asset: Holding companies 2.4 82.7 101.9 75.2 173.9 119.0 -123.0 282.1 147.0 169.8 230.4 21

 NFC investment in finance company subsidiaries:

 22 Liab.: Finance companies 26.7 8.4 2.6 14.7 14.1 -4.1 -7.6 -16.1 -1.6 8.8 -23.0 22

 23 Asset: Nonfinancial corporate business 26.7 8.4 2.6 14.7 14.1 -4.1 -7.6 -16.1 -1.6 8.8 -23.0 23

 Funding corporations’ investment in subsidiaries:

 24 Liab.: Foreign banking offices in U.S. -31.5 -33.7 -11.8 -2.5 -20.3 2.2 -27.9 51.6 -3.1 -11.9 86.9 24

 25 Brokers and dealers -26.9 53.4 19.0 15.5 23.1 36.2 102.0 -56.7 55.7 43.7 118.2 25

 26 Asset: Funding corporations -58.4 19.6 7.2 13.0 2.8 38.3 74.1 -5.1 52.7 31.8 205.1 26

 Equity investment under Public-Private Inv. Program:

 27 Liab.: Funding corporations 7.9 1.0 -6.8 -3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Asset: Households (2) 4.0 0.5 -3.4 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Federal government 4.0 0.5 -3.4 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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F.233 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world -10.2 99.7 -90.9 -8.6 1.3 -0.5 -2.9 -0.7 0.2 1.3 -3.4 1

 2 Asset: Federal government 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 2

 3 Monetary authority (1) -10.2 99.7 -90.9 -8.6 1.3 -0.5 -2.9 -0.7 0.2 1.3 -3.4 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises -1.5 -1.8 1.2 -3.2 -1.5 -0.5 4.4 -3.7 -3.9 1.1 -1.0 6

 7 Asset: U.S.-chartered depository institutions -1.5 -1.8 1.2 -3.2 -1.5 -0.5 4.4 -3.7 -3.9 1.1 -1.0 7

 Funding agreements backing securities (2):

 8 Liab.: Life insurance companies -9.7 -8.5 -0.4 -8.4 9.2 1.6 6.2 -5.9 -12.2 18.3 -3.4 8

 9 Asset: ABS issuers -9.7 -8.5 -0.4 -8.4 9.2 1.6 6.2 -5.9 -12.2 18.3 -3.4 9

 Deferred and unpaid life insurance premiums:

 10 Liab.: Household sector 2.7 -0.4 0.6 3.0 1.2 1.5 4.6 3.2 -1.6 -0.2 5.1 10

 11 Asset: Life insurance companies 2.7 -0.4 0.6 3.0 1.2 1.5 4.6 3.2 -1.6 -0.2 5.1 11

 Life insurance company reserves:

 12 Liab.: Life insurance companies 17.1 14.8 -1.8 0.4 5.8 8.9 13.9 2.2 19.8 -0.6 26.8 12

 13 Accident and health 17.0 15.6 -2.4 0.2 5.5 7.8 7.8 3.5 14.7 5.2 23.4 13

 14 Policy dividend accumulation 0.4 -1.8 0.4 0.2 0.2 0.4 -0.8 1.4 1.0 0.3 -0.8 14

 15 Contract claims -0.4 0.9 0.3 -0.0 0.1 0.6 6.9 -2.7 4.2 -6.0 4.1 15

 16 Asset: Household sector 17.1 14.8 -1.8 0.4 5.8 8.9 13.9 2.2 19.8 -0.6 26.8 16

 Policy payables:

 17 Liab.: Property-casualty insurance companies 6.3 35.2 5.8 5.7 14.7 15.5 -5.6 30.7 40.4 -3.3 27.6 17

 18 Asset: Household sector -35.2 27.6 -17.7 37.7 -8.4 24.6 14.3 31.4 37.2 15.3 19.9 18

 19 Nonfinancial corporate business 11.7 12.3 8.0 -6.0 10.2 2.0 -6.4 8.2 11.7 -5.6 9.5 19

 20 Nonfinancial noncorporate business 29.9 -4.7 15.4 -26.0 12.9 -11.0 -13.5 -9.0 -8.6 -13.0 -1.8 20

 Unallocated insurance company contracts:

 21 Liab.: Life insurance companies 12.9 13.0 4.3 -4.4 -3.3 6.0 20.3 1.9 -35.7 37.4 4.8 21

 22 Asset: Private pension funds -1.2 22.6 5.4 -3.7 3.1 4.2 13.5 -0.5 -20.5 24.4 4.9 22

 23 State and local government retirement funds 14.1 -9.6 -1.2 -0.7 -6.4 1.7 6.8 2.4 -15.2 12.9 -0.1 23

 Pension fund contributions payable:

 24 Liab.: Nonfinancial corporate business 15.4 3.0 -12.3 -2.5 -1.1 2.8 6.7 1.1 -0.1 3.3 -6.0 24

 25 Asset: Private pension funds 15.4 3.0 -12.3 -2.5 -1.1 2.8 6.7 1.1 -0.1 3.3 -6.0 25

 Securities borrowed (net):

 26 Liab.: Funding corporations -123.5 -74.6 -79.2 94.0 47.1 -13.8 139.1 -209.3 177.7 -162.6 315.3 26

 27 Asset: Brokers and dealers -123.5 -74.6 -79.2 94.0 47.1 -13.8 139.1 -209.3 177.7 -162.6 315.3 27

 Retiree health care funds (3):

 28 Liab.: Federal government 22.5 18.5 13.3 12.2 10.4 7.4 3.1 -4.4 14.2 16.7 12.3 28

 29 Asset: Household sector 22.5 18.5 13.3 12.2 10.4 7.4 3.1 -4.4 14.2 16.7 12.3 29

 Claims of pension fund on sponsor:

 30 Liab.: Nonfinancial corporate business -32.1 -19.5 -11.6 110.9 54.2 43.3 -21.4 51.3 56.5 86.7 82.6 30

 31 Federal government 20.2 20.8 50.4 -9.3 22.8 16.0 402.2 567.0 470.5 -1375.8 22.9 31

 32 State and local governments 249.1 316.3 312.2 244.4 237.1 280.2 180.0 272.2 322.5 346.1 257.9 32

 33 Asset: Private pension funds -32.1 -19.5 -11.6 110.9 54.2 43.3 -21.4 51.3 56.5 86.7 82.6 33

 34 Federal government retirement funds 20.2 20.8 50.4 -9.3 22.8 16.0 402.2 567.0 470.5 -1375.8 22.9 34

 35 State and local govt. retirement funds 249.1 316.3 312.2 244.4 237.1 280.2 180.0 272.2 322.5 346.1 257.9 35

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

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables F.132 and F.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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F.234 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 327.2 461.5 736.1 356.4 1003.2 357.0 193.5 -21.4 376.5 879.2 885.3 1

 2 Nonfinancial corporate business 485.6 802.7 791.6 487.9 942.3 535.1 -38.3 74.0 817.6 1287.2 747.6 2

 3 Nonfinancial noncorporate business -54.3 -21.0 51.8 41.8 39.0 7.2 64.5 -2.4 -7.4 -25.8 -25.1 3

 4 Federal government 2.4 13.6 -8.3 1.3 3.0 3.5 -18.1 13.3 -9.5 28.4 -17.9 4

 5 Monetary authority 27.8 -27.5 3.5 9.7 2.4 -0.3 74.5 -48.7 -73.3 46.4 64.6 5

 6 U.S.-chartered depository institutions -42.3 -171.0 45.9 60.9 122.5 22.9 85.1 50.4 21.4 -65.1 -25.1 6

 7 Foreign banking offices in U.S. 1.1 43.8 -23.9 -30.7 8.6 -11.3 39.2 -97.4 29.3 -16.4 77.1 7

 8 Banks in U.S.-affiliated areas -5.9 -3.9 -2.0 -3.0 -1.6 -2.3 -3.4 3.2 -7.0 -2.0 1.6 8

 9 Credit unions -8.3 1.3 0.3 1.5 1.2 0.5 7.2 -0.8 -9.8 5.6 22.3 9

 10 Life insurance companies 1.9 10.1 23.7 3.6 27.3 -22.5 71.2 -104.4 88.0 -144.8 158.5 10

 11 Government-sponsored enterprises -37.9 -41.4 -5.4 -6.7 -3.4 -5.3 -4.3 -20.8 10.6 -6.8 0.9 11

 12 Finance companies -58.8 -7.1 -21.4 -27.1 -3.5 -10.6 -1.3 9.6 -38.6 -11.9 -52.4 12

 13 REITs 4.1 7.1 25.4 -22.1 6.9 -2.1 -4.1 6.3 41.6 -52.4 22.1 13

 14 Brokers and dealers 60.2 -59.8 -79.0 -30.4 -47.8 -112.0 161.0 -95.2 -107.1 -406.7 -125.1 14

 15 Holding companies -48.7 -33.3 -97.9 57.1 -31.4 -130.2 -202.3 -12.4 -265.1 -41.0 14.7 15

 16 Funding corporations 0.3 -52.1 31.7 -187.4 -62.3 84.2 -37.4 203.8 -114.2 284.6 21.3 16

 17 Net change in assets -25.4 164.2 205.5 772.3 644.1 656.8 1500.3 233.3 -18.4 912.2 958.6 17

 18 Nonfinancial corporate business 176.3 5.2 96.5 249.0 337.2 649.5 1064.5 529.3 477.5 526.8 479.6 18

 19 Nonfinancial noncorporate business 74.7 113.5 206.9 254.1 122.8 177.2 159.3 214.6 103.1 231.7 117.3 19

 20 Federal government -9.8 -1.3 -3.5 3.7 10.2 12.2 10.9 17.4 10.8 9.6 14.3 20

 21 State and local governments -22.0 -1.1 5.7 3.9 7.6 15.8 14.2 12.9 30.7 5.3 15.0 21

 22 Monetary authority 17.5 42.7 65.3 40.9 -1.8 -19.7 -29.5 -14.1 -20.4 -14.7 -14.8 22

 23 U.S.-chartered depository institutions -96.0 -60.9 -10.2 -1.0 -7.0 13.5 134.1 92.3 -175.2 2.9 152.7 23

 24 Foreign banking offices in U.S. -15.3 15.0 -0.3 13.1 14.4 -13.0 17.8 -23.7 -35.6 -10.5 22.8 24

 25 Banks in U.S.-affiliated areas 4.5 0.8 0.2 8.6 12.8 1.5 -8.2 22.4 -3.4 -4.6 21.8 25

 26 Credit unions 41.5 -12.8 1.0 -0.7 4.9 5.7 -13.7 7.2 6.2 23.0 -19.7 26

 27 Life insurance companies -10.2 57.5 26.2 24.2 70.7 -0.8 59.1 -68.1 38.1 -32.5 88.0 27

 28 Private pension funds 14.2 43.4 34.1 27.6 28.6 22.6 31.8 14.9 14.5 29.3 29.8 28

 29 State and local govt. retirement funds 18.9 3.4 -0.6 14.3 4.8 3.5 17.9 -2.1 -6.8 5.0 2.4 29

 30 Money market mutual funds -3.9 -0.8 6.2 2.6 -14.6 -7.0 -27.8 -56.6 -18.8 75.2 -63.9 30

 31 Mutual funds -115.6 11.3 -94.5 -23.8 102.7 -25.0 -123.2 -282.4 122.7 182.7 -23.1 31

 32 Government-sponsored enterprises 29.3 -0.1 4.1 13.1 -11.0 -6.5 40.2 6.2 -48.4 -24.0 31.9 32

 33 Finance companies -101.3 -5.9 -34.2 -16.9 9.2 -13.9 6.7 -87.4 -115.1 140.2 -55.9 33

 34 REITs 1.3 8.5 25.7 8.7 13.1 10.7 26.1 17.0 14.2 -14.5 23.3 34

 35 Brokers and dealers 10.6 -32.0 10.5 51.2 2.2 -43.4 131.6 -43.1 -169.3 -92.7 127.2 35

 36 Holding companies -40.1 -22.2 -133.7 99.9 -62.7 -126.0 -11.4 -123.3 -243.4 -125.9 9.6 36

 37 Discrepancy 352.6 297.3 530.6 -415.9 359.1 -299.9 -1306.8 -254.7 394.9 -33.0 -73.3 37
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74 Z.1, June 9, 2016

F.7 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 All sectors 402.9 182.5 677.6 -396.0 424.8 -213.3 -643.6 -415.1 285.9 -80.4 -110.5 1

 2 Household sector -214.4 -802.5 -46.2 -489.6 -332.4 -428.6 -855.9 265.2 -420.3 -703.4 -358.5 2

 3 Nonfinancial corporate business 296.1 794.2 734.3 283.7 739.8 20.9 -106.9 -192.8 79.2 304.1 279.4 3

 4 Federal government -47.1 -12.3 -55.0 -36.0 -64.8 -74.4 -163.4 -216.8 40.0 42.8 -72.8 4

 5 State and local governments -33.1 61.4 26.5 47.0 -16.5 34.4 -33.7 75.3 -64.6 160.7 -102.3 5

 6 Domestic financial sectors 223.0 75.2 19.2 -224.4 12.1 -97.5 -217.6 -137.0 -116.5 81.0 -215.0 6

 7 Monetary authority -10.0 -1.2 -18.8 -1.6 3.9 23.3 6.7 9.4 -0.2 77.5 0.3 7

 8 U.S.-chartered depository institutions 156.8 89.8 33.5 -16.3 71.6 -142.7 -127.4 -244.9 -166.5 -31.9 34.9 8

 9 Foreign banking officed in U.S. -17.6 1.4 11.0 -47.0 0.4 19.4 -89.6 57.1 35.2 75.0 -182.2 9

 10 Banks in U.S.-affiliated areas -0.0 1.0 -0.1 -0.3 -0.2 0.1 3.3 1.8 -3.8 -0.9 3.3 10

 11 Credit unions -6.4 -27.2 4.8 14.2 -2.0 2.6 -5.2 5.5 1.3 8.7 -9.5 11

 12 Property-casualty insurance companies 75.3 6.7 -20.9 16.8 -12.4 8.0 -16.2 -3.2 -15.8 67.2 -12.1 12

 13 Life insurance companies -31.8 -30.3 -37.2 -23.9 -45.0 -11.4 -37.4 34.2 7.8 -50.4 -3.4 13

 14 Mutual funds -24.9 -35.7 -41.5 -57.0 -53.4 -54.5 -50.0 -56.0 -56.0 -56.0 -56.0 14

 15 Government-sponsored enterprises 41.1 0.5 21.3 -3.8 23.7 -13.4 -39.1 -33.6 4.1 15.0 7.3 15

 16 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 16

 17 Finance companies 9.9 43.2 27.8 -79.5 -3.9 15.8 35.5 18.6 27.0 -17.9 -14.6 17

 18 REITs 7.9 18.1 29.2 42.8 41.9 39.0 62.1 64.4 43.9 -14.4 3.7 18

 19 Brokers and dealers -6.0 30.5 -37.0 -33.0 -12.2 14.6 16.4 -3.2 62.6 -17.6 18.2 19

 20 Holding companies 28.6 -21.4 47.1 -35.6 -0.4 1.7 23.4 13.0 -56.2 26.8 -4.9 20

 21 Rest of the world 178.4 66.5 -1.2 23.2 86.5 331.8 733.9 -208.9 768.1 34.4 358.8 21

F.8 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 All types 402.9 182.5 677.6 -396.0 424.8 -213.3 -643.6 -415.1 285.9 -80.4 -110.5 1

 2 Treasury currency -1.1 -0.7 -0.6 -1.1 -1.1 -1.3 -1.5 -1.3 -1.3 -1.0 -0.6 2

 3 Foreign deposits 49.0 -135.1 -140.4 -7.8 -89.3 -184.4 -1.0 -287.2 -176.5 -272.7 -272.6 3

 4 Net interbank transactions 25.8 3.5 5.7 56.8 -47.1 -9.4 288.4 -170.4 -100.6 -55.0 258.2 4

 5 Security repurchase agreements 41.8 33.3 37.1 -50.1 -100.1 82.9 173.5 -19.1 25.8 151.3 -168.1 5

 6 Mail floats -1.1 0.8 1.5 -0.7 0.9 -0.3 -41.2 98.9 0.7 -59.5 -41.2 6

 7 Federal government 0.0 -0.1 0.6 0.4 1.1 -0.0 -41.7 99.1 2.3 -59.8 -40.5 7

 8 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Private domestic -1.1 0.9 0.9 -1.2 -0.3 -0.2 0.6 -0.1 -1.7 0.3 -0.7 9

 10 Trade credit -1.4 -42.5 59.7 -130.1 60.3 26.9 21.1 92.2 -28.8 23.1 -36.7 10

 11 Taxes payable -8.6 -8.0 -14.7 -19.6 35.1 -29.6 -23.3 -48.6 -7.4 -39.1 -45.5 11

 12 Miscellaneous 352.6 297.3 530.6 -415.9 359.1 -299.9 -1306.8 -254.7 394.9 -33.0 -73.3 12

 13 Nonfinancial -54.1 33.9 198.6 172.5 206.9 201.7 247.1 175.2 179.1 205.5 269.3 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) 49.2 -38.3 -203.3 -177.6 -212.0 -207.0 -252.3 -180.4 -184.4 -210.8 -274.7 14

 15 Contr. for govt. soc. insur., U.S. affiliated areas 4.9 4.4 4.6 5.2 5.1 5.3 5.2 5.2 5.3 5.3 5.4 15
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L.100 Domestic Nonfinancial Sectors (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 74840.2 76271.6 81753.9 90816.5 95923.4 99177.7 97560.5 98312.5 96774.8 99177.7 99775.6 1

 2 U.S. official reserve assets 95.1 110.9 114.2 109.8 98.0 86.9 88.7 89.5 89.2 86.9 88.0 2

 3 Foreign deposits 107.9 92.2 84.9 129.2 114.0 79.5 95.0 95.6 83.4 79.5 73.5 3

 4 Checkable deposits and currency 1636.8 1751.6 1933.1 2220.6 2510.9 2787.8 2411.3 2632.7 2518.0 2787.8 2818.3 4

 5 Time and savings deposits 7592.2 7996.8 8443.2 8718.9 9227.0 9734.9 9443.9 9402.7 9593.6 9734.9 9855.0 5

 6 Money market fund shares 1854.3 1802.3 1868.6 1939.9 1930.5 1918.1 1817.6 1807.3 1832.9 1918.1 1890.7 6

 7 Security repurchase agreements 137.7 133.5 134.4 135.0 153.7 172.8 157.7 162.3 168.3 172.8 176.3 7

 8 Debt securities 6580.2 5992.8 5858.2 5806.6 5584.8 6119.9 5617.8 5794.4 5985.6 6119.9 6068.5 8

 9 Open market paper 191.7 177.7 161.0 141.2 137.5 133.6 137.9 136.3 136.5 133.6 130.8 9

 10 Treasury securities 1798.3 1355.0 1640.2 1825.0 1563.8 1907.6 1614.1 1684.0 1787.0 1907.6 1881.1 10

 11 Agency- and GSE-backed securities 971.4 878.6 735.2 741.3 788.1 983.2 759.3 807.4 890.5 983.2 948.2 11

 12 Municipal securities 1948.2 1867.9 1721.5 1731.4 1643.0 1637.9 1662.0 1686.4 1668.5 1637.9 1647.0 12

 13 Corporate and foreign bonds 1670.6 1713.7 1600.4 1367.8 1452.4 1457.6 1444.5 1480.2 1503.1 1457.6 1461.3 13

 14 Loans 1891.5 2018.9 2151.1 2323.7 2504.9 2580.1 2553.1 2548.2 2585.1 2580.1 2659.5 14

 15 Other loans and advances 930.4 933.2 964.1 1034.7 1089.1 1041.8 1092.1 1067.1 1063.5 1041.8 1080.5 15

 16 Mortgages 481.2 476.8 458.7 458.2 477.6 501.0 483.8 488.8 494.5 501.0 508.1 16

 17 Consumer credit 479.9 608.9 728.3 830.8 938.2 1037.4 977.3 992.2 1027.1 1037.4 1070.9 17

 18 Corporate equities 8871.2 8477.6 9847.8 13049.2 14410.3 14209.7 14939.9 14823.4 13463.0 14209.7 14069.6 18

 19 Mutual fund shares 4722.2 4660.1 5500.3 6540.0 6991.2 6880.4 7231.4 7235.0 6751.3 6880.4 6936.6 19

 20 Trade receivables 2885.7 3040.5 3105.6 3428.8 3534.9 3573.7 3596.8 3654.8 3647.5 3573.7 3628.2 20

 21 Life insurance reserves 1137.5 1199.3 1186.4 1233.0 1282.8 1310.6 1300.0 1303.8 1298.3 1310.6 1324.3 21

 22 Pension entitlements 16873.8 17298.8 18334.7 19783.8 20587.3 20945.5 20795.0 20904.3 20594.5 20945.5 21080.2 22

 23 Taxes payable 262.1 272.8 279.9 287.3 302.9 332.0 309.5 311.2 323.6 332.0 336.9 23

 24 Equity in noncorporate business 6898.4 7524.0 8313.7 9512.6 10174.7 10749.1 10381.5 10483.2 10601.4 10749.1 10922.6 24

 25 U.S. direct investment abroad 3402.9 3759.2 4134.4 4447.0 4691.8 4839.1 4722.1 4729.4 4750.7 4839.1 4909.9 25

 26 Miscellaneous assets 9890.6 10140.4 10463.5 11151.2 11823.7 12857.7 12099.2 12334.9 12488.4 12857.7 12937.6 26

 27 Total liabilities 50658.5 52549.5 54980.6 56498.7 59012.0 61678.8 59456.0 60020.7 60767.0 61678.8 62352.9 27

 28 U.S. official reserve assets 54.4 54.2 54.3 54.4 51.2 48.9 48.7 49.7 49.6 48.9 49.8 28

 29 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 29

 30 Treasury currency 25.9 25.9 25.9 25.6 25.3 25.3 25.3 25.3 25.3 25.3 25.3 30

 31 Debt securities 17759.8 19041.3 20555.9 21662.3 22688.7 23876.4 22867.7 22950.7 23073.5 23876.4 24281.7 31

 32 Open market paper 82.9 116.3 130.3 144.5 182.0 176.5 188.2 177.5 201.2 176.5 185.5 32

 33 Treasury securities 10504.4 11642.0 12822.9 13680.6 14416.7 15141.1 14434.9 14353.4 14376.7 15141.1 15377.3 33

 34 Agency- and GSE-backed securities 24.2 25.3 24.9 24.5 24.4 24.6 24.1 24.7 24.1 24.6 24.4 34

 35 Municipal securities 3772.1 3719.4 3714.4 3671.2 3652.4 3719.0 3694.0 3714.6 3710.0 3719.0 3746.9 35

 36 Corporate and foreign bonds 3376.2 3538.4 3863.3 4141.4 4413.3 4815.3 4526.4 4680.5 4761.5 4815.3 4947.5 36

 37 Loans 19314.8 19181.7 19414.8 19766.9 20529.4 21281.1 20611.9 20868.3 21002.4 21281.1 21376.7 37

 38 Depository institution loans n.e.c. 1465.6 1541.7 1742.8 1867.0 2144.9 2437.1 2207.7 2271.7 2310.7 2437.1 2512.3 38

 39 Other loans and advances 1547.6 1571.9 1676.2 1746.5 1852.4 1751.1 1854.3 1862.6 1763.3 1751.1 1706.9 39

 40 Mortgages 13654.4 13309.9 13075.5 13057.3 13214.1 13558.3 13227.1 13336.1 13447.0 13558.3 13615.4 40

 41 Consumer credit 2647.2 2758.3 2920.4 3096.2 3318.0 3534.6 3322.8 3397.8 3481.4 3534.6 3542.0 41

 42 Trade payables 3301.7 3430.1 3561.8 3754.9 3940.2 4018.1 3960.7 4015.0 4018.1 4018.1 4014.7 42

 43 Life insurance reserves 48.7 50.0 50.3 50.5 51.3 51.1 50.7 51.0 50.8 51.1 51.1 43

 44 Taxes payable 142.0 151.4 161.3 155.4 157.7 164.5 176.0 175.8 177.5 164.5 164.8 44

 45 Foreign direct investment in U.S. 2134.0 2236.8 2423.5 2619.9 2768.2 3019.5 2864.3 2944.2 2970.2 3019.5 3062.5 45

 46 Miscellaneous liabilities 7871.9 8372.9 8727.7 8403.6 8794.8 9188.5 8845.5 8935.6 9394.3 9188.5 9321.3 46

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

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 52701.1 53670.7 58082.5 65449.2 69153.0 70778.6 70494.0 70722.4 68983.3 70778.6 71078.1 1

 2 Deposits 8061.6 8702.3 9227.2 9602.4 10210.5 10752.5 10344.0 10316.2 10425.0 10752.5 10853.6 2

 3 Foreign deposits 67.3 57.4 49.5 51.7 45.3 30.5 43.8 39.1 35.1 30.5 25.3 3

 4 Checkable deposits and currency 423.5 723.8 887.5 1021.4 1158.5 1309.3 1221.5 1222.4 1163.3 1309.3 1318.8 4

 5 Time and savings deposits 6442.2 6812.1 7179.2 7389.9 7886.4 8346.7 8063.8 8055.8 8220.9 8346.7 8473.6 5

 6 Money market fund shares 1128.6 1109.1 1111.1 1139.3 1120.2 1066.1 1014.9 999.0 1005.7 1066.1 1035.9 6

 7 Debt securities 4827.7 4428.2 4316.1 4335.1 4081.5 4545.6 4095.0 4275.7 4437.0 4545.6 4466.4 7

 8 Open market paper 21.1 19.4 18.8 15.0 14.9 13.7 15.2 15.7 14.3 13.7 11.7 8

 9 Treasury securities 1106.7 702.0 943.9 1144.9 842.1 1123.5 880.0 953.2 1037.1 1123.5 1071.6 9

 10 Agency- and GSE-backed securities 289.8 330.6 239.9 279.7 336.5 539.8 307.7 356.1 434.3 539.8 504.8 10

 11 Municipal securities 1905.7 1826.6 1679.2 1692.6 1605.1 1596.5 1620.7 1646.5 1629.3 1596.5 1608.0 11

 12 Corporate and foreign bonds 1504.4 1549.7 1434.4 1202.9 1282.9 1272.0 1271.3 1304.1 1322.0 1272.0 1270.3 12

 13 Loans 922.8 917.5 918.8 970.3 1023.3 965.8 1024.1 995.0 991.6 965.8 1001.6 13

 14 Other loans and advances (2) 751.4 749.5 777.9 841.4 893.2 842.6 895.7 867.9 866.3 842.6 882.0 14

 15 Mortgages 100.1 100.9 82.8 77.1 82.5 79.0 81.6 81.1 79.8 79.0 76.9 15

 16 Consumer credit (student loans) 71.3 67.1 58.0 51.8 47.6 44.2 46.8 46.1 45.5 44.2 42.8 16

 17 Corporate equities (3) 8694.4 8295.0 9669.9 12851.9 14203.3 13994.9 14729.8 14611.9 13256.1 13994.9 13851.6 17

 18 Mutual fund shares 4476.7 4435.2 5254.7 6250.5 6672.4 6556.5 6904.4 6906.3 6438.8 6556.5 6609.7 18

 19 Life insurance reserves 1137.5 1199.3 1186.4 1233.0 1282.8 1310.6 1300.0 1303.8 1298.3 1310.6 1324.3 19

 20 Pension entitlements (4) 16873.8 17298.8 18334.7 19783.8 20587.3 20945.5 20795.0 20904.3 20594.5 20945.5 21080.2 20

 21 Claims of pension fund on sponsor 3634.2 4027.9 3977.9 3365.2 3345.5 3840.8 3456.9 3715.4 4276.5 3840.8 3978.9 21

 22 Funded pension entitlements 13239.6 13270.9 14356.8 16418.7 17241.8 17104.7 17338.1 17188.9 16318.0 17104.7 17101.3 22

 23 Equity in noncorporate business 6898.4 7524.0 8313.7 9512.6 10174.7 10749.1 10381.5 10483.2 10601.4 10749.1 10922.6 23

 24 Miscellaneous assets 808.2 870.5 861.0 909.5 917.3 958.1 920.2 926.0 940.7 958.1 968.0 24

 25 Total liabilities 13788.1 13579.5 13635.6 13784.7 14167.6 14520.0 14151.7 14295.7 14381.1 14520.0 14537.8 25

 26 Debt securities (municipal securities) 263.2 255.5 241.0 227.8 223.1 218.0 223.0 219.7 217.2 218.0 219.9 26

 27 Loans 13251.3 13049.8 13115.7 13274.0 13657.3 14012.1 13640.0 13786.1 13874.1 14012.1 14026.6 27

 28 Home mortgages (5) 9921.5 9701.9 9490.7 9403.8 9403.6 9493.8 9374.2 9417.3 9470.3 9493.8 9510.6 28

 29 Consumer credit 2647.2 2758.3 2920.4 3096.2 3318.0 3534.6 3322.8 3397.8 3481.4 3534.6 3542.0 29

 30 Depository institution loans n.e.c. (6) 61.0 11.5 62.6 90.8 211.9 325.8 232.5 246.3 268.7 325.8 338.9 30

 31 Other loans and advances 414.3 376.9 443.1 480.5 513.7 437.4 499.0 510.1 436.5 437.4 413.4 31

 32 Commercial mortgages 207.3 201.1 198.9 202.7 210.1 220.5 211.4 214.5 217.2 220.5 221.7 32

 33 Trade payables 248.8 250.0 254.0 255.0 258.1 259.4 258.5 258.9 259.2 259.4 259.4 33

 34 Deferred and unpaid life insurance premiums 24.7 24.3 24.9 27.9 29.1 30.6 30.2 31.0 30.6 30.6 31.8 34

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

(3) Directly held shares, including shares of closed-end and exchange-traded funds shares. Other equities are included in mutual fund shares (line 18), life insurance reserves (line 19) and pension entitlements (line 20).

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

(5) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 23.

(6) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.109, line 19.
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L.102 Nonfinancial Business (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 17745.0 18434.0 19314.7 20791.4 21909.9 23131.4 22239.2 22571.2 22732.1 23131.4 23340.7 1

 2 Foreign deposits 40.6 34.8 35.4 77.5 68.7 49.0 51.3 56.5 48.3 49.0 48.2 2

 3 Checkable deposits and currency 766.1 821.6 835.3 910.8 984.4 1008.5 954.7 1017.9 1021.2 1008.5 1049.1 3

 4 Time and savings deposits 905.0 924.2 967.5 1014.9 1018.9 1056.4 1050.0 1025.3 1047.4 1056.4 1047.6 4

 5 Money market fund shares 574.7 540.1 600.1 641.9 644.8 668.3 633.1 635.2 648.5 668.3 665.7 5

 6 Security repurchase agreements 12.1 12.6 9.7 8.7 21.6 25.7 22.2 23.8 25.3 25.7 24.9 6

 7 Debt securities 209.6 202.2 194.0 181.3 193.5 190.1 188.5 183.6 180.2 190.1 184.5 7

 8 Commercial paper 68.0 67.9 59.5 52.9 56.4 54.4 57.4 56.6 54.8 54.4 54.8 8

 9 Treasury securities 96.1 91.9 92.4 94.0 99.0 97.4 92.4 90.9 90.7 97.4 95.2 9

 10 Agency- and GSE-backed securities 16.0 14.3 13.1 8.9 13.8 11.8 11.3 10.4 10.1 11.8 10.8 10

 11 Municipal securities 29.6 28.2 29.0 25.5 24.3 26.5 27.4 25.7 24.7 26.5 23.7 11

 12 Loans 114.8 110.8 107.4 105.4 112.8 119.5 113.4 116.9 118.9 119.5 119.7 12

 13 Mortgages 70.1 63.7 59.4 61.9 68.4 76.0 70.2 72.1 73.8 76.0 77.7 13

 14 Consumer credit 44.8 47.1 48.0 43.4 44.4 43.6 43.2 44.8 45.0 43.6 42.0 14

 15 Mutual fund shares 186.8 165.9 179.6 211.0 234.5 235.7 241.1 242.1 228.3 235.7 236.9 15

 16 Trade receivables 2690.6 2835.0 2892.2 3202.6 3303.8 3341.2 3363.8 3419.0 3413.4 3341.2 3393.5 16

 17 U.S. direct investment abroad 3402.9 3759.2 4134.4 4447.0 4691.8 4839.1 4722.1 4729.4 4750.7 4839.1 4909.9 17

 18 Miscellaneous assets 8841.8 9027.8 9359.1 9990.3 10635.0 11598.0 10899.0 11121.4 11249.8 11598.0 11660.6 18

 19 Total liabilities 18898.9 19521.4 20579.8 21465.3 22831.9 23945.8 23111.2 23356.4 23568.6 23945.8 24222.1 19

 20 Debt securities 3944.5 4148.6 4502.8 4804.4 5113.7 5526.1 5239.7 5394.5 5499.2 5526.1 5673.1 20

 21 Commercial paper 82.9 116.3 130.3 144.5 182.0 176.5 188.2 177.5 201.2 176.5 185.5 21

 22 Municipal securities 485.4 493.9 509.1 518.5 518.4 534.3 525.1 536.5 536.5 534.3 540.1 22

 23 Corporate bonds 3376.2 3538.4 3863.3 4141.4 4413.3 4815.3 4526.4 4680.5 4761.5 4815.3 4947.5 23

 24 Loans 6049.1 6116.7 6283.4 6476.7 6855.5 7252.2 6955.2 7065.5 7111.6 7252.2 7333.1 24

 25 Depository institution loans n.e.c. 1404.6 1530.2 1680.1 1776.1 1933.0 2111.3 1975.2 2025.4 2042.1 2111.3 2173.5 25

 26 Other loans and advances 1118.9 1179.7 1217.4 1249.7 1322.1 1296.8 1338.6 1335.8 1310.1 1296.8 1276.5 26

 27 Mortgages 3525.6 3406.8 3385.8 3450.8 3600.3 3844.0 3641.5 3704.3 3759.5 3844.0 3883.2 27

 28 Trade payables 2174.2 2254.2 2330.5 2465.9 2609.3 2634.9 2617.6 2651.9 2639.5 2634.9 2613.0 28

 29 Taxes payable 142.0 151.4 161.3 155.4 157.7 164.5 176.0 175.8 177.5 164.5 164.8 29

 30 Foreign direct investment in U.S. 2134.0 2236.8 2423.5 2619.9 2768.2 3019.5 2864.3 2944.2 2970.2 3019.5 3062.5 30

 31 Miscellaneous liabilities 4455.0 4613.7 4878.3 4943.1 5327.5 5348.6 5258.3 5124.6 5170.6 5348.6 5375.7 31

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

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 14016.8 14508.9 15088.4 16260.5 17143.5 18029.3 17398.3 17643.5 17743.3 18029.3 18169.1 1

 2 Foreign deposits 40.6 34.8 35.4 77.5 68.7 49.0 51.3 56.5 48.3 49.0 48.2 2

 3 Checkable deposits and currency 234.5 265.3 219.8 283.3 322.3 306.2 285.1 337.5 333.4 306.2 337.5 3

 4 Time and savings deposits 548.7 561.9 595.2 631.1 609.5 580.0 622.4 589.8 593.7 580.0 552.6 4

 5 Money market fund shares 497.8 462.4 519.4 559.1 558.2 576.8 545.3 546.2 558.8 576.8 573.4 5

 6 Security repurchase agreements 12.1 12.6 9.7 8.7 21.6 25.7 22.2 23.8 25.3 25.7 24.9 6

 7 Debt securities 155.9 147.4 135.0 121.8 131.1 123.2 125.3 119.1 114.9 123.2 116.6 7

 8 Commercial paper 68.0 67.9 59.5 52.9 56.4 54.4 57.4 56.6 54.8 54.4 54.8 8

 9 Treasury securities 48.0 43.0 39.4 38.8 41.3 35.4 33.9 31.1 30.2 35.4 32.3 9

 10 Agency- and GSE-backed securities 16.0 14.3 13.1 8.9 13.8 11.8 11.3 10.4 10.1 11.8 10.8 10

 11 Municipal securities 23.9 22.3 22.9 21.2 19.7 21.6 22.7 21.0 19.9 21.6 18.7 11

 12 Loans 72.8 74.5 73.6 70.5 76.3 80.4 76.3 79.2 80.6 80.4 80.0 12

 13 Mortgages 28.0 27.4 25.5 27.1 31.9 36.8 33.2 34.4 35.6 36.8 38.0 13

 14 Consumer credit 44.8 47.1 48.0 43.4 44.4 43.6 43.2 44.8 45.0 43.6 42.0 14

 15 Mutual fund shares 186.8 165.9 179.6 211.0 234.5 235.7 241.1 242.1 228.3 235.7 236.9 15

 16 Trade receivables 2157.2 2240.7 2293.2 2554.8 2625.6 2613.2 2676.0 2717.8 2702.6 2613.2 2655.2 16

 17 U.S. direct investment abroad (1) 3402.9 3759.2 4134.4 4447.0 4691.8 4839.1 4722.1 4729.4 4750.7 4839.1 4909.9 17

 18 Miscellaneous assets 6707.4 6784.2 6893.1 7295.6 7803.8 8600.1 8031.3 8202.1 8306.8 8600.1 8633.8 18

 19 Insurance receivables 318.7 331.0 339.0 333.0 343.2 345.1 341.6 343.6 346.5 345.1 347.5 19

 20 Equity in GSEs 0.6 0.5 0.6 0.6 0.7 0.8 0.8 0.8 0.8 0.8 0.9 20

 21 Investment in finance company subs. 60.7 69.1 71.7 86.4 100.5 96.4 98.6 94.5 94.2 96.4 90.6 21

 22 Other 6327.4 6383.6 6481.9 6875.6 7359.4 8157.8 7590.3 7763.2 7865.3 8157.8 8194.8 22

 23 Total liabilities 13226.7 13878.4 14695.5 15396.6 16482.5 17217.6 16674.5 16820.5 16961.8 17217.6 17418.9 23

 24 Debt securities 3944.5 4148.6 4502.8 4804.4 5113.7 5526.1 5239.7 5394.5 5499.2 5526.1 5673.1 24

 25 Commercial paper 82.9 116.3 130.3 144.5 182.0 176.5 188.2 177.5 201.2 176.5 185.5 25

 26 Municipal securities (2) 485.4 493.9 509.1 518.5 518.4 534.3 525.1 536.5 536.5 534.3 540.1 26

 27 Corporate bonds (1) 3376.2 3538.4 3863.3 4141.4 4413.3 4815.3 4526.4 4680.5 4761.5 4815.3 4947.5 27

 28 Loans 2098.2 2230.1 2226.0 2314.7 2491.1 2577.8 2538.9 2564.3 2547.9 2577.8 2589.9 28

 29 Depository institution loans n.e.c. 477.1 629.2 712.1 775.8 868.5 947.3 888.5 910.0 917.0 947.3 975.8 29

 30 Other loans and advances (3) 948.1 1008.3 1036.9 1063.1 1126.1 1094.9 1144.3 1140.0 1112.2 1094.9 1076.0 30

 31 Mortgages 672.9 592.5 477.0 475.8 496.6 535.5 506.1 514.3 518.7 535.5 538.1 31

 32 Trade payables 1746.4 1771.6 1837.0 1938.3 2047.0 2021.1 2040.7 2062.2 2040.9 2021.1 1987.6 32

 33 Taxes payable 42.9 51.7 54.0 44.9 43.5 41.6 58.1 56.2 56.8 41.6 40.7 33

 34 Foreign direct investment in U.S. 2128.7 2230.7 2417.2 2612.8 2760.3 3010.1 2855.5 2934.9 2960.6 3010.1 3053.5 34

 35 Miscellaneous liabilities 3266.0 3445.7 3658.6 3681.5 4027.0 4040.8 3941.6 3808.5 3856.4 4040.8 4074.1 35

 36 Pension fund contributions payable 90.8 93.8 81.4 79.0 77.9 80.7 79.6 79.9 79.8 80.7 79.2 36

 37 Claims of pension fund on sponsor 448.6 517.7 391.0 181.7 166.3 297.3 154.8 187.4 335.8 297.3 329.1 37

 38 Other 2726.6 2834.3 3186.1 3420.9 3782.8 3662.8 3707.2 3541.2 3440.8 3662.8 3665.8 38

 Memo:

 39 Market value of equities 13996.1 13888.1 15578.8 20593.0 22716.8 21727.0 23108.6 22745.9 20699.2 21727.0 21685.7 39

 40 Total liquid assets (4) 1676.5 1650.4 1694.1 1892.6 1946.0 1896.5 1892.6 1915.1 1902.6 1896.5 1890.2 40

 41 Total short-term liabilities (5) 3297.5 3577.1 3770.3 3966.6 4267.0 4281.5 4319.8 4345.8 4328.2 4281.5 4265.5 41

 42 Liquid assets/short-term liabilities (percent) 50.84 46.14 44.93 47.71 45.61 44.30 43.81 44.07 43.96 44.30 44.31 42

 43 Short-term debt/total debt (percent) (6) 24.96 27.50 27.93 27.86 28.62 27.38 28.55 27.99 27.72 27.38 27.08 43

(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 2 through 7 and line 15.

(5) Sum of lines 25, 29, 30, 32, and 33. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(6) Short-term debt is the sum of lines 25, 29, and 30. Total debt is the sum of lines 24 and 28.
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L.104 Nonfinancial Noncorporate Business

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3728.3 3925.1 4226.3 4531.0 4766.3 5102.2 4840.9 4927.7 4988.8 5102.2 5171.6 1

 2 Checkable deposits and currency 531.6 556.3 615.5 627.6 662.1 702.4 669.6 680.5 687.9 702.4 711.6 2

 3 Time and savings deposits 356.2 362.2 372.3 383.8 409.4 476.4 427.6 435.5 453.7 476.4 495.0 3

 4 Money market fund shares 76.8 77.7 80.7 82.7 86.6 91.5 87.8 89.0 89.8 91.5 92.3 4

 5 Debt securities 53.7 54.8 59.0 59.5 62.3 66.9 63.2 64.4 65.3 66.9 67.8 5

 6 Treasury securities 48.1 48.9 52.9 55.2 57.8 62.0 58.6 59.7 60.5 62.0 62.9 6

 7 Municipal securities 5.6 5.9 6.1 4.4 4.6 4.9 4.6 4.7 4.8 4.9 5.0 7

 8 Loans 42.1 36.3 33.9 34.8 36.5 39.2 37.0 37.7 38.2 39.2 39.7 8

 9 Mortgages 42.1 36.3 33.9 34.8 36.5 39.2 37.0 37.7 38.2 39.2 39.7 9

 10 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Trade receivables 533.4 594.4 598.9 647.8 678.2 728.0 687.9 701.2 710.8 728.0 738.3 11

 12 Miscellaneous assets 2134.4 2243.6 2466.0 2694.8 2831.2 2997.9 2867.8 2919.3 2943.1 2997.9 3026.8 12

 13 Insurance receivables 131.7 127.0 142.5 116.5 129.4 118.4 126.0 123.8 121.6 118.4 117.9 13

 14 Equity investment in GSEs (1) 6.7 7.0 7.2 7.7 8.5 9.0 8.6 8.7 8.9 9.0 9.1 14

 15 Other 1996.0 2109.5 2316.4 2570.5 2693.3 2870.5 2733.2 2786.8 2812.6 2870.5 2899.8 15

 16 Total liabilities 5672.2 5643.0 5884.3 6068.7 6349.4 6728.2 6436.7 6535.9 6606.8 6728.2 6803.2 16

 17 Loans 3950.9 3886.6 4057.3 4162.0 4364.4 4674.4 4416.4 4501.2 4563.7 4674.4 4743.1 17

 18 Depository institution loans n.e.c. 927.4 900.9 968.0 1000.4 1064.6 1164.0 1086.7 1115.4 1125.0 1164.0 1197.7 18

 19 Other loans and advances 170.8 171.3 180.6 186.6 196.1 201.9 194.3 195.8 197.9 201.9 200.4 19

 20 Mortgages 2852.7 2814.3 2908.8 2975.0 3103.8 3308.5 3135.4 3190.0 3240.8 3308.5 3345.0 20

 21 Trade payables 427.8 482.7 493.5 527.5 562.3 613.8 577.0 589.7 598.5 613.8 625.5 21

 22 Taxes payable 99.2 99.7 107.4 110.5 114.2 122.8 117.9 119.6 120.7 122.8 124.1 22

 23 Foreign direct investment in U.S. 5.3 6.1 6.3 7.1 7.9 9.4 8.8 9.3 9.5 9.4 9.0 23

 24 Miscellaneous liabilities 1189.0 1168.0 1219.7 1261.5 1300.5 1307.8 1316.7 1316.1 1314.2 1307.8 1301.5 24

(1) Equity in the Farm Credit System.
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L.105 General Government (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 4394.0 4166.8 4356.7 4575.9 4860.5 5267.7 4827.3 5019.0 5059.4 5267.7 5356.8 1

 2 U.S. official reserve assets 95.1 110.9 114.2 109.8 98.0 86.9 88.7 89.5 89.2 86.9 88.0 2

 3 Checkable deposits and currency 447.2 206.2 210.4 288.3 367.9 470.0 235.1 392.4 333.5 470.0 450.3 3

 4 Time and savings deposits 245.1 260.6 296.4 314.1 321.7 331.8 330.1 321.6 325.2 331.8 333.8 4

 5 Money market fund shares 151.0 153.1 157.4 158.7 165.5 183.8 169.6 173.1 178.7 183.8 189.1 5

 6 Security repurchase agreements 125.6 120.9 124.7 126.2 132.1 147.2 135.5 138.4 143.0 147.2 151.5 6

 7 Debt securities 1542.9 1362.4 1348.1 1290.2 1309.9 1384.2 1334.4 1335.2 1368.5 1384.2 1417.6 7

 8 Open market paper 102.6 90.5 82.7 73.3 66.2 65.5 65.3 64.1 67.4 65.5 64.3 8

 9 Treasury securities 595.5 561.1 603.9 586.1 622.6 686.7 641.7 639.9 659.1 686.7 714.3 9

 10 Agency- and GSE-backed securities 665.6 533.6 482.2 452.6 437.9 431.6 440.3 440.9 446.2 431.6 432.7 10

 11 Municipal securities 12.9 13.1 13.3 13.2 13.6 14.9 13.9 14.2 14.6 14.9 15.4 11

 12 Corporate and foreign bonds 166.3 164.0 166.0 164.9 169.5 185.6 173.1 176.1 181.2 185.6 191.0 12

 13 Loans 853.9 990.6 1124.8 1248.1 1368.8 1494.8 1415.7 1436.3 1474.7 1494.8 1538.2 13

 14 Mortgages 311.1 312.2 316.4 319.2 326.7 346.0 332.0 335.6 340.9 346.0 353.5 14

 15 Consumer credit 363.8 494.8 622.2 735.5 846.2 949.7 887.3 901.4 936.5 949.7 986.2 15

 16 Other loans and advances 179.0 183.7 186.2 193.4 195.9 199.1 196.4 199.3 197.2 199.1 198.5 16

 17 Corporate equities 176.8 182.6 178.0 197.3 207.1 214.8 210.1 211.5 206.9 214.8 218.0 17

 18 Mutual fund shares 58.7 59.1 66.0 78.4 84.3 88.2 85.9 86.5 84.2 88.2 89.9 18

 19 Trade receivables 195.1 205.5 213.5 226.2 231.1 232.5 233.0 235.8 234.1 232.5 234.7 19

 20 Taxes receivable 262.1 272.8 279.9 287.3 302.9 332.0 309.5 311.2 323.6 332.0 336.9 20

 21 Miscellaneous assets 240.5 242.1 243.4 251.4 271.4 301.6 279.9 287.5 297.9 301.6 308.9 21

 22 Total liabilities 17971.5 19448.5 20765.2 21248.6 22012.4 23212.9 22193.2 22368.6 22817.3 23212.9 23593.0 22

 23 SDR allocations 54.4 54.2 54.3 54.4 51.2 48.9 48.7 49.7 49.6 48.9 49.8 23

 24 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 24

 25 Treasury currency 25.9 25.9 25.9 25.6 25.3 25.3 25.3 25.3 25.3 25.3 25.3 25

 26 Debt securities 13552.1 14637.2 15812.1 16630.0 17351.9 18132.2 17404.9 17336.5 17357.1 18132.2 18388.7 26

 27 Treasury securities 10528.6 11667.3 12847.8 13705.1 14441.1 15165.6 14459.0 14378.1 14400.8 15165.6 15401.8 27

 28 Municipal securities 3023.6 2970.0 2964.3 2924.9 2910.9 2966.6 2945.9 2958.5 2956.3 2966.6 2986.9 28

 29 Loans 14.4 15.3 15.7 16.2 16.6 16.9 16.7 16.7 16.7 16.9 17.1 29

 30 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Other loans and advances 14.4 15.3 15.7 16.2 16.6 16.9 16.7 16.7 16.7 16.9 17.1 31

 32 Trade payables 878.7 925.9 977.3 1034.1 1072.7 1123.8 1084.5 1104.2 1119.5 1123.8 1142.2 32

 33 Insurance reserves 48.7 50.0 50.3 50.5 51.3 51.1 50.7 51.0 50.8 51.1 51.1 33

 34 Miscellaneous liabilities 3392.1 3734.9 3824.4 3432.7 3438.2 3809.4 3557.0 3780.0 4193.1 3809.4 3913.8 34

 Memo:

 35 Total financial assets (consolidated) (2) 3784.2 3590.5 3737.1 3973.6 4221.3 4564.2 4168.9 4362.3 4383.6 4564.2 4625.5 35

 36 Total liabilities (consolidated) (2) 17361.7 18872.2 20145.6 20646.3 21373.2 22509.4 21534.7 21712.0 22141.5 22509.4 22861.7 36

(1) Sum of the federal government and state and local governments 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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L.106 Federal Government

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1619.8 1422.2 1519.7 1717.5 1892.5 2128.5 1814.1 1994.3 1976.3 2128.5 2156.0 1

 2 U.S. official reserve assets 95.1 110.9 114.2 109.8 98.0 86.9 88.7 89.5 89.2 86.9 88.0 2

 3 Checkable deposits and currency 342.3 84.6 92.2 163.0 226.8 338.1 104.8 258.5 202.6 338.1 317.6 3

 4 Time and savings deposits 2.0 1.7 2.0 1.5 1.7 1.8 1.6 1.9 2.1 1.8 1.8 4

 5 Debt securities 150.1 31.9 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 5

 6 Agency- and GSE-backed securities 149.2 31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.9 0.8 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 7

 8 Loans 649.3 788.4 919.9 1044.3 1159.3 1265.3 1201.7 1218.6 1250.7 1265.3 1302.0 8

 9 Other loans and advances 179.0 183.7 186.2 193.4 195.9 199.1 196.4 199.3 197.2 199.1 198.5 9

 10 Mortgages 106.6 109.9 111.5 115.5 117.2 116.5 118.1 117.9 116.9 116.5 117.4 10

 11 Consumer credit (1) 363.8 494.8 622.2 735.5 846.2 949.7 887.3 901.4 936.5 949.7 986.2 11

 12 Corporate equities (2) 49.9 57.8 39.9 35.1 33.4 33.4 33.3 33.5 33.4 33.4 33.4 12

 13 Trade receivables 42.9 47.7 50.3 53.6 48.4 48.2 50.2 50.5 49.7 48.2 50.9 13

 14 Taxes receivable 144.3 152.8 158.6 163.4 165.6 181.3 169.6 173.5 177.4 181.3 185.3 14

 15 Miscellaneous assets 143.8 146.4 142.0 146.1 158.6 173.0 163.5 167.9 170.6 173.0 176.6 15

 16 Total liabilities 12809.7 13991.3 15246.5 16122.7 16885.6 17639.9 17030.6 17111.4 17257.6 17639.9 17920.5 16

 17 SDR allocations 54.4 54.2 54.3 54.4 51.2 48.9 48.7 49.7 49.6 48.9 49.8 17

 18 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 18

 19 Treasury currency 25.9 25.9 25.9 25.6 25.3 25.3 25.3 25.3 25.3 25.3 25.3 19

 20 Debt securities 10528.6 11667.3 12847.8 13705.1 14441.1 15165.6 14459.0 14378.1 14400.8 15165.6 15401.8 20

 21 Treasury securities (3) 10504.4 11642.0 12822.9 13680.6 14416.7 15141.1 14434.9 14353.4 14376.7 15141.1 15377.3 21

 22 Marketable 8822.7 9906.1 11027.9 11834.2 12480.9 13169.0 12606.7 12670.7 12812.8 13169.0 13407.1 22

 23 Nonmarketable 1681.7 1735.9 1795.0 1846.5 1935.8 1972.1 1828.2 1682.7 1563.9 1972.1 1970.2 23

 24 Budget agency securities 24.2 25.3 24.9 24.5 24.4 24.6 24.1 24.7 24.1 24.6 24.4 24

 25 Loans (multifamily residential mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Trade payables 209.7 218.5 231.9 250.6 250.5 262.7 252.8 262.7 268.1 262.7 271.2 26

 27 Insurance reserves 48.7 50.0 50.3 50.5 51.3 51.1 50.7 51.0 50.8 51.1 51.1 27

 28 Miscellaneous liabilities 1937.3 1970.3 2031.1 2031.3 2061.1 2081.0 2188.8 2339.5 2457.8 2081.0 2116.2 28

 29 Claims of pension fund on sponsor 1730.8 1745.6 1793.6 1782.1 1802.0 1815.1 1934.0 2087.5 2205.5 1815.1 1852.2 29

 30 Other 206.5 224.6 237.5 249.2 259.1 265.9 254.9 252.1 252.4 265.9 264.0 30

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

 the government purchased from depository institutions and finance companies.

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

(3) Includes marketable and nonmarketable Treasury securities held by the public and Treasury securities held by federal government employee retirement funds.
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L.107 State and Local Governments (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2774.2 2744.6 2837.0 2858.4 2968.0 3139.3 3013.2 3024.6 3083.1 3139.3 3200.8 1

 2 Checkable deposits and currency 104.9 121.6 118.2 125.3 141.1 131.9 130.3 133.8 130.9 131.9 132.8 2

 3 Time and savings deposits 243.1 258.9 294.4 312.6 319.9 330.0 328.5 319.8 323.1 330.0 332.0 3

 4 Money market fund shares 151.0 153.1 157.4 158.7 165.5 183.8 169.6 173.1 178.7 183.8 189.1 4

 5 Security repurchase agreements 125.6 120.9 124.7 126.2 132.1 147.2 135.5 138.4 143.0 147.2 151.5 5

 6 Debt securities 1392.8 1330.5 1347.5 1289.6 1309.3 1383.7 1333.9 1334.7 1368.0 1383.7 1417.1 6

 7 Open market paper 102.6 90.5 82.7 73.3 66.2 65.5 65.3 64.1 67.4 65.5 64.3 7

 8 Treasury securities 595.5 561.1 603.9 586.1 622.6 686.7 641.7 639.9 659.1 686.7 714.3 8

 9 Agency- and GSE-backed securities 516.4 502.6 482.2 452.6 437.9 431.6 440.3 440.9 446.2 431.6 432.7 9

 10 Municipal securities 12.9 13.1 13.3 13.2 13.6 14.9 13.9 14.2 14.6 14.9 15.4 10

 11 Corporate and foreign bonds 165.4 163.2 165.3 164.4 169.0 185.1 172.6 175.6 180.7 185.1 190.5 11

 12 Loans (mortgages) 204.6 202.3 204.9 203.7 209.5 229.5 213.9 217.7 223.9 229.5 236.1 12

 13 Corporate equities 126.9 124.8 138.1 162.2 173.6 181.4 176.7 178.0 173.5 181.4 184.6 13

 14 Mutual fund shares 58.7 59.1 66.0 78.4 84.3 88.2 85.9 86.5 84.2 88.2 89.9 14

 15 Trade receivables 152.2 157.8 163.1 172.6 182.7 184.3 182.8 185.2 184.3 184.3 183.8 15

 16 Taxes receivable 117.8 120.0 121.3 123.8 137.2 150.6 139.9 137.7 146.2 150.6 151.6 16

 17 Miscellaneous assets 96.7 95.7 101.4 105.3 112.8 128.6 116.4 119.6 127.3 128.6 132.4 17

 18 Total liabilities 5161.8 5457.3 5518.7 5125.9 5126.8 5573.0 5162.6 5257.2 5559.6 5573.0 5672.5 18

 19 Debt securities (municipal securities) 3023.6 2970.0 2964.3 2924.9 2910.9 2966.6 2945.9 2958.5 2956.3 2966.6 2986.9 19

 20 Short-term (2) 63.0 52.3 56.1 45.3 38.6 32.8 38.1 31.1 31.5 32.8 32.4 20

 21 Long-term 2960.6 2917.6 2908.2 2879.6 2872.3 2933.8 2907.9 2927.4 2924.8 2933.8 2954.5 21

 22 Loans (U.S. government loans) 14.4 15.3 15.7 16.2 16.6 16.9 16.7 16.7 16.7 16.9 17.1 22

 23 Trade payables 669.0 707.4 745.5 783.4 822.2 861.2 831.7 841.5 851.4 861.2 871.0 23

 24 Claims of pension fund on sponsor (3) 1454.8 1764.6 1793.3 1401.4 1377.2 1728.4 1368.2 1440.5 1735.3 1728.4 1797.6 24

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

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

(3) Included in miscellaneous liabilities.
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L.108 Domestic Financial Sectors (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 70867.7 72325.5 76414.7 81984.6 85618.5 85900.8 86442.3 86583.3 85388.7 85900.8 86685.7 1

 2 U.S. official reserve assets 37.0 36.8 35.8 34.6 32.0 30.5 30.4 30.7 30.9 30.5 31.6 2

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

 4 Treasury currency 43.5 44.2 44.8 45.5 46.3 47.6 46.7 47.0 47.3 47.6 47.7 4

 5 Foreign deposits 108.0 43.8 44.1 34.3 24.5 11.1 20.5 22.5 12.6 11.1 17.6 5

 6 Net interbank assets 1019.6 1622.6 1561.7 2321.8 2453.3 2051.5 2504.4 2310.5 2265.5 2051.5 2194.1 6

 7 Checkable deposits and currency 327.1 364.1 373.3 369.6 349.7 335.6 337.8 320.1 345.5 335.6 336.3 7

 8 Time and savings deposits 647.7 599.7 627.2 708.8 722.6 644.1 733.2 734.3 694.3 644.1 707.1 8

 9 Money market fund shares 879.5 814.3 727.6 669.8 680.9 722.1 717.3 699.1 723.8 722.1 753.5 9

 10 Federal funds and security repos 2536.3 2695.3 2922.3 2470.0 2481.4 2545.6 2462.4 2489.5 2600.9 2545.6 2390.0 10

 11 Debt securities 18549.1 19676.1 20822.9 21841.7 22816.1 23276.5 22859.2 22712.4 22698.9 23276.5 23658.8 11

 12 Open market paper 763.7 688.9 688.7 709.1 685.0 703.8 696.4 729.4 753.9 703.8 791.6 12

 13 Treasury securities 4247.3 5282.7 5611.3 6061.8 6696.7 7085.5 6644.7 6494.5 6483.4 7085.5 7211.4 13

 14 Agency- and GSE-backed securities 5538.3 5627.7 5823.9 6173.2 6257.6 6272.3 6247.3 6217.7 6217.5 6272.3 6286.3 14

 15 Municipal securities 1752.2 1779.1 1921.2 1863.7 1928.9 1993.8 1949.6 1942.8 1955.5 1993.8 2010.7 15

 16 Corporate and foreign bonds 6247.5 6297.7 6777.9 7033.8 7247.8 7221.1 7321.2 7328.0 7288.5 7221.1 7358.8 16

 17 Loans 19229.0 18991.8 19169.1 19583.1 20322.0 21001.0 20341.1 20641.8 20722.9 21001.0 21033.4 17

 18 Depository institution loans n.e.c. 2039.4 2217.0 2393.8 2590.3 2910.2 3206.4 2988.1 3073.6 3099.6 3206.4 3285.0 18

 19 Other loans and advances 1673.0 1602.8 1772.0 1914.0 2064.1 2005.1 2028.7 2076.5 1974.3 2005.1 1937.1 19

 20 Mortgages 13349.2 13022.6 12811.2 12813.3 12967.9 13292.3 12978.9 13086.1 13194.8 13292.3 13340.2 20

 21 Consumer credit 2167.3 2149.4 2192.0 2265.4 2379.8 2497.2 2345.5 2405.6 2454.3 2497.2 2471.1 21

 22 Corporate equities 11151.9 10567.2 12046.8 15274.3 16403.2 15987.4 16773.6 16805.7 15315.6 15987.4 15861.7 22

 23 Mutual fund shares 4045.1 3910.9 4367.8 5241.0 5551.7 5430.3 5642.5 5636.1 5259.5 5430.3 5433.5 23

 24 Trade receivables 135.6 134.8 133.2 131.0 132.1 140.9 137.6 141.5 142.4 140.9 146.5 24

 25 Life insurance reserves 141.1 153.0 172.9 183.7 194.6 205.2 197.0 200.1 202.5 205.2 207.6 25

 26 U.S. direct investment abroad 870.7 840.3 883.2 892.8 884.2 873.7 889.2 903.9 906.4 873.7 883.6 26

 27 Miscellaneous assets 11141.4 11825.3 12476.8 12177.5 12518.7 12592.5 12744.1 12883.0 13414.5 12592.5 12977.6 27

 28 Total liabilities 67536.3 68925.2 72516.5 77592.5 80938.4 81145.2 81658.2 81717.7 80675.6 81145.2 81817.7 28

 29 Net interbank liabilities 1068.5 1889.0 1683.8 2812.9 2865.6 2364.2 2911.0 2675.4 2619.9 2364.2 2444.4 29

 30 Checkable deposits and currency 2359.8 2594.3 2853.8 3186.5 3537.5 3829.7 3441.3 3642.4 3558.0 3829.7 3881.2 30

 31 Time and savings deposits 8548.1 8952.2 9463.7 9872.9 10448.7 10854.9 10683.3 10628.2 10761.8 10854.9 11068.1 31

 32 Money market fund shares 2803.5 2691.0 2693.2 2717.8 2724.6 2754.7 2644.7 2615.1 2667.7 2754.7 2758.8 32

 33 Federal funds and security repos 2934.2 3118.5 3327.1 2944.5 2953.5 2930.7 2956.4 2912.2 2971.4 2930.7 2758.6 33

 34 Debt securities 13544.8 13117.5 12923.9 12924.3 13073.3 13116.6 13019.9 13077.1 13143.5 13116.6 13158.4 34

 35 Open market paper 576.0 507.9 449.1 400.2 362.9 320.1 348.5 371.9 342.3 320.1 368.4 35

 36 Agency- and GSE-backed securities 7581.3 7559.2 7535.4 7773.7 7924.0 8144.4 7880.8 7935.2 8023.0 8144.4 8153.6 36

 37 Corporate and foreign bonds 5387.4 5050.5 4939.4 4750.4 4786.4 4652.0 4790.6 4770.0 4778.3 4652.0 4636.4 37

 38 Loans 1786.3 1798.9 1781.4 1971.3 2128.4 2130.4 2109.8 2148.3 2139.3 2130.4 2152.9 38

 39 Depository institution loans n.e.c. 411.8 470.1 413.4 446.6 460.0 441.3 464.8 475.3 463.8 441.3 443.3 39

 40 Other loans and advances 1198.4 1139.2 1173.6 1310.4 1437.0 1454.2 1409.5 1434.1 1433.2 1454.2 1476.7 40

 41 Mortgages 176.1 189.5 194.4 214.3 231.4 234.9 235.5 238.8 242.3 234.9 232.9 41

 42 Mutual fund shares 9029.8 8941.4 10363.5 12333.0 13150.6 12897.2 13519.9 13533.6 12605.7 12897.2 12962.1 42

 43 Trade payables 18.1 14.3 14.2 14.5 17.9 26.3 19.2 23.6 24.2 26.3 25.3 43

 44 Life insurance reserves 1229.9 1302.3 1309.0 1366.3 1426.1 1464.6 1446.2 1452.9 1450.0 1464.6 1480.8 44

 45 Pension entitlements 16873.8 17298.8 18334.7 19783.8 20587.3 20945.5 20795.0 20904.3 20594.5 20945.5 21080.2 45

 46 Taxes payable -88.9 -78.0 -76.8 -59.1 -42.6 -56.1 -33.7 -47.1 -53.2 -56.1 -42.4 46

 47 Foreign direct investment in U.S. 489.6 561.9 582.8 563.3 588.3 588.3 595.1 604.9 607.2 588.3 596.6 47

 48 Miscellaneous liabilities 6938.9 6723.2 7262.1 7160.6 7479.1 7298.3 7550.1 7546.8 7585.7 7298.3 7492.7 48

 Memo:

 49 Market value of corporate equities 4340.2 4052.4 4947.0 6462.0 7321.3 7286.6 7457.9 7514.9 6991.3 7286.6 7076.1 49

 50 Equity in noncorporate business 15.9 11.9 17.3 15.9 17.5 14.9 17.2 16.2 17.1 14.9 13.1 50

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

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2451.7 2945.2 2955.0 4073.8 4555.4 4542.1 4538.9 4536.5 4541.6 4542.1 4538.1 1

 2 U.S. official reserve assets 37.0 36.8 35.8 34.6 32.0 30.5 30.4 30.7 30.9 30.5 31.6 2

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

 4 Treasury currency 43.5 44.2 44.8 45.5 46.3 47.6 46.7 47.0 47.3 47.6 47.7 4

 5 Federal Reserve float (2) -1.4 -0.6 -0.5 -1.0 -0.6 -0.0 -0.7 -0.4 -0.1 -0.0 -1.2 5

 6 Interbank loans (2) 0.2 0.2 0.1 0.1 0.1 0.1 0.0 0.2 0.3 0.1 0.1 6

 7 Discount window (3) 0.2 0.2 0.1 0.1 0.1 0.1 0.0 0.2 0.3 0.1 0.1 7

 8 AMLF (4) 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Debt securities 2161.1 2605.1 2669.6 3756.2 4236.9 4242.0 4228.4 4228.9 4238.3 4242.0 4243.7 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 0.0 11

 12 Treasury securities 1021.5 1663.4 1666.1 2208.8 2461.4 2461.6 2459.6 2461.0 2461.9 2461.6 2461.3 12

 13 Treasury bills 18.4 18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Other Treasury securities 1003.1 1645.0 1666.1 2208.8 2461.4 2461.6 2459.6 2461.0 2461.9 2461.6 2461.3 14

 15 Agency- and GSE-backed securities 1139.6 941.7 1003.4 1547.4 1775.5 1780.4 1768.8 1768.0 1776.3 1780.4 1782.3 15

 16 Mortgage-backed securities 992.1 837.7 926.7 1490.2 1736.8 1747.5 1731.9 1732.1 1741.2 1747.5 1753.1 16

 17 Other agency- and GSE-backed securities 147.5 104.0 76.8 57.2 38.7 32.9 36.9 35.9 35.1 32.9 29.3 17

 18 Loans (depository institution loans n.e.c.) 98.1 30.5 0.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Households (TALF) (5) 24.7 9.0 0.6 0.1 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 0.0 20

 21 Funding corporations (7) 73.4 21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Corporate equities (8) 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous assets 81.6 223.9 199.5 233.1 235.5 216.8 228.9 224.9 219.7 216.8 211.0 24

 25 Nonofficial foreign currencies (9) 0.1 99.8 8.9 0.3 1.5 1.0 0.8 0.6 0.7 1.0 0.1 25

 26 Other 81.5 124.0 190.6 232.8 233.9 215.8 228.1 224.3 219.1 215.8 210.9 26

 27 Total liabilities 2425.1 2918.3 2927.6 4046.3 4526.8 4532.1 4510.0 4507.4 4512.3 4532.1 4528.1 27

 28 Depository institution reserves 968.1 1562.3 1491.0 2249.1 2378.0 1977.2 2437.3 2242.5 2197.7 1977.2 2125.4 28

 29 Vault cash of depository institutions 52.7 60.8 71.1 73.6 75.7 74.2 67.8 68.3 67.6 74.2 69.8 29

 30 Checkable deposits and currency 1287.8 1165.7 1224.6 1364.1 1516.4 1720.8 1417.7 1588.3 1557.3 1720.8 1733.8 30

 31 Due to federal government 340.9 85.9 92.9 162.6 223.7 333.7 100.3 254.4 198.9 333.7 314.0 31

 32 Treasury cash holdings 0.2 0.1 0.2 0.2 0.2 0.3 0.2 0.1 0.2 0.3 0.2 32

 33 Treasury general deposit account 140.8 85.7 92.7 162.4 223.5 333.4 100.1 254.3 198.7 333.4 313.8 33

 34 Treasury temporary supplementary financing account 200.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Due to rest of the world 3.4 0.2 6.5 8.0 5.3 5.2 5.2 5.3 6.2 5.2 5.2 35

 36 Due to government-sponsored enterprises 13.5 64.6 27.2 25.9 20.2 31.1 20.9 28.2 32.1 31.1 41.2 36

 37 Currency outside banks 930.0 1015.0 1098.1 1167.6 1267.3 1350.7 1291.3 1300.4 1320.0 1350.7 1373.3 37

 38 Security repurchase agreements 59.7 99.9 107.2 315.9 509.8 712.4 536.9 558.2 641.1 712.4 550.5 38

 39 Reverse repurchase agreement operations (10) 0.0 0.0 0.0 197.8 396.7 474.6 378.5 392.6 449.6 474.6 303.8 39

 40 Other 59.7 99.9 107.2 118.2 113.1 237.8 158.4 165.6 191.5 237.8 246.7 40

 41 Miscellaneous liabilities 56.9 29.7 33.7 43.5 47.0 47.6 50.4 50.1 48.7 47.6 48.6 41

 42 Federal Reserve Bank stock 26.5 26.9 27.4 27.5 28.6 29.5 28.8 29.1 29.3 29.5 30.1 42

 43 Other 30.4 2.8 6.3 16.0 18.4 18.1 21.6 21.0 19.4 18.1 18.5 43

(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, line 23.

(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) Includes loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, AIG, Maiden Lane III LLC, and the Commercial Paper Funding Facility LLC.

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

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

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

(10) 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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L.110 Private Depository Institutions (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 13697.4 14580.2 14985.6 15920.5 16897.9 17372.7 17140.3 17164.1 17253.4 17372.7 17712.2 1

 2 Vault cash 52.7 60.8 71.1 73.6 75.7 74.2 67.8 68.3 67.6 74.2 69.8 2

 3 Reserves at Federal Reserve 968.1 1562.3 1491.0 2249.1 2378.0 1977.2 2437.3 2242.5 2197.7 1977.2 2125.4 3

 4 Federal funds and security repos 356.1 378.6 490.6 392.6 403.2 428.4 414.9 419.5 410.8 428.4 411.5 4

 5 Debt securities 3070.7 3208.7 3399.1 3445.3 3662.1 3865.4 3728.8 3752.7 3766.6 3865.4 3907.0 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 299.6 252.9 339.5 304.4 499.8 536.6 501.4 506.6 500.6 536.6 545.1 7

 8 Agency- and GSE-backed securities 1718.1 1851.7 1901.3 1943.8 1970.0 2125.2 2025.8 2057.4 2062.5 2125.2 2131.2 8

 9 Municipal securities 257.1 303.9 371.9 427.0 458.0 505.4 471.9 483.4 494.7 505.4 514.2 9

 10 Corporate and foreign bonds 795.9 800.2 786.3 770.2 734.2 698.2 729.7 705.4 708.8 698.2 716.4 10

 11 Loans 7936.4 8038.3 8278.0 8519.5 9087.2 9755.5 9174.0 9381.3 9516.9 9755.5 9873.8 11

 12 Depository institution loans n.e.c. 1941.4 2186.5 2393.3 2590.2 2910.2 3206.4 2988.1 3073.6 3099.6 3206.4 3285.0 12

 13 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Mortgages 4583.0 4436.2 4422.4 4392.1 4531.1 4779.1 4566.1 4635.3 4700.4 4779.1 4832.4 14

 15 Consumer credit 1412.0 1415.6 1462.3 1537.1 1645.9 1770.1 1619.9 1672.3 1717.0 1770.1 1756.4 15

 16 Corporate equities 73.6 67.4 71.3 101.3 108.5 100.0 109.0 108.2 93.5 100.0 93.6 16

 17 Mutual fund shares 46.5 43.5 48.1 60.1 61.8 56.8 61.4 62.0 55.6 56.8 58.2 17

 18 Life insurance reserves 116.0 125.5 138.0 143.8 149.6 156.2 150.9 153.1 154.5 156.2 157.6 18

 19 U.S. direct investment abroad 280.1 272.5 277.0 268.5 252.9 241.8 254.1 256.4 254.7 241.8 247.1 19

 20 Miscellaneous assets 797.2 822.8 721.4 666.7 718.8 717.3 742.0 720.3 735.5 717.3 768.3 20

 21 Total liabilities 13946.6 14908.9 15539.1 16432.9 17545.3 17973.0 17732.7 17731.2 17820.4 17973.0 18266.9 21

 22 Net interbank liabilities 47.8 266.0 121.7 490.2 411.9 312.8 405.9 364.7 354.6 312.8 249.2 22

 23 Checkable deposits 1072.0 1428.6 1629.2 1822.3 2021.2 2108.9 2023.6 2054.1 2000.8 2108.9 2147.4 23

 24 Small time and savings deposits 6624.9 7202.2 7803.9 8110.8 8475.8 8989.5 8762.6 8708.7 8844.7 8989.5 9179.5 24

 25 Large time deposits 1923.2 1750.0 1659.9 1762.0 1972.9 1865.4 1920.7 1919.5 1917.0 1865.4 1888.5 25

 26 Federal funds and security repos 734.0 706.9 674.9 582.1 607.5 603.4 598.6 601.0 581.3 603.4 597.1 26

 27 Debt securities 490.1 500.1 383.4 280.7 263.5 254.2 243.6 244.7 247.3 254.2 263.4 27

 28 Open market paper 113.0 120.6 87.5 59.7 54.5 53.6 49.0 50.1 51.1 53.6 56.6 28

 29 Corporate bonds 377.1 379.4 295.9 221.0 209.0 200.6 194.6 194.5 196.2 200.6 206.9 29

 30 Loans (other loans and advances) 418.9 356.2 361.8 437.0 503.6 544.3 470.9 518.0 505.1 544.3 528.4 30

 31 Taxes payable (net) -59.6 -49.1 -47.6 -47.4 -32.3 -36.7 -27.5 -34.4 -32.2 -36.7 -26.3 31

 32 Foreign direct investment in U.S. 120.0 176.6 207.7 215.9 219.3 200.2 217.7 222.2 222.6 200.2 202.9 32

 33 Miscellaneous liabilities 2575.3 2571.3 2744.2 2779.3 3101.9 3130.9 3116.4 3132.6 3179.3 3130.9 3236.7 33

 34 Investment by holding companies 1632.8 1709.0 1889.2 1937.2 2133.2 2171.3 2112.8 2141.6 2160.8 2171.3 2208.0 34

 35 Investment by funding corporations 171.6 137.8 126.0 123.5 103.2 105.4 96.2 109.1 108.4 105.4 127.1 35

 36 Other 770.9 724.5 729.0 718.5 865.5 854.3 907.4 881.9 910.1 854.3 901.5 36

 Memo:

 37 Consumer leases not included above (2) 6.2 6.0 6.5 7.9 8.6 8.0 8.6 8.6 8.3 8.0 8.1 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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86 Z.1, June 9, 2016

L.111 U.S.-Chartered Depository Institutions

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 11473.5 11839.5 12218.4 12795.4 13646.6 14182.2 13868.0 13855.0 13948.6 14182.2 14387.8 1

 2 Vault cash 52.7 60.8 71.1 73.6 75.6 74.2 67.8 68.3 67.6 74.2 69.8 2

 3 Reserves at Federal Reserve 575.8 798.7 798.5 1252.9 1443.6 1235.6 1505.4 1305.8 1278.8 1235.6 1311.8 3

 4 Federal funds and security repos 267.6 242.6 302.7 215.4 185.0 209.8 215.1 208.9 212.3 209.8 205.6 4

 5 Debt securities 2549.8 2658.2 2821.8 2912.4 3153.9 3368.3 3223.9 3262.8 3276.3 3368.3 3387.3 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 217.5 173.9 243.2 217.1 420.4 435.2 421.3 424.2 420.9 435.2 435.1 7

 8 Agency- and GSE-backed securities 1527.2 1634.1 1669.6 1717.3 1760.3 1924.7 1815.0 1845.5 1861.5 1924.7 1930.2 8

 9 Residential mortgage pass-through securities 835.3 899.1 912.8 953.5 979.7 1129.7 1024.3 1058.7 1077.8 1129.7 1130.1 9

 10 Commercial mortgage pass-through securities 3.3 8.2 21.7 30.3 42.4 61.5 45.9 49.4 53.8 61.5 66.4 10

 11 Residential CMOs and other structured MBS 393.4 473.8 454.6 431.0 444.0 443.9 448.8 442.0 440.8 443.9 442.0 11

 12 Commercial CMOs and other structured MBS 3.6 13.4 42.9 66.8 81.4 96.7 83.6 85.7 89.4 96.7 105.4 12

 13 Other 291.5 239.6 237.7 235.7 212.7 193.0 212.3 209.6 199.6 193.0 186.3 13

 14 Municipal securities 254.6 297.3 365.0 418.9 451.5 498.9 465.2 476.6 488.1 498.9 507.5 14

 15 Corporate and foreign bonds 550.5 553.0 544.0 559.2 521.7 509.5 522.4 516.5 505.8 509.5 514.6 15

 16 Priv. residential mortgage pass-through securities 6.5 3.5 18.7 28.7 22.7 14.7 21.2 19.5 17.1 14.7 12.8 16

 17 Priv. commercial mortgage pass-through securities 11.4 8.9 9.3 8.0 5.6 3.0 5.1 3.7 3.2 3.0 2.3 17

 18 Priv. residential CMOs and other structured MBS 132.3 110.4 88.4 73.7 68.2 56.2 65.4 63.6 60.8 56.2 53.8 18

 19 Priv. commercial CMOs and other structured MBS 24.7 27.4 32.7 37.3 42.7 53.3 46.0 48.1 50.0 53.3 52.4 19

 20 Other 375.6 402.9 394.9 411.4 382.6 382.3 384.7 381.5 374.8 382.3 393.3 20

 21 Loans 6829.9 6867.4 7089.5 7241.4 7670.0 8189.9 7722.7 7889.8 7990.8 8189.9 8275.2 21

 22 Depository institution loans n.e.c. 1449.5 1625.3 1842.0 1986.4 2236.2 2465.3 2286.8 2360.0 2377.9 2465.3 2529.2 22

 23 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Mortgages 4194.9 4049.6 4028.8 3983.5 4090.7 4296.3 4123.8 4180.2 4229.2 4296.3 4340.2 24

 25 Consumer credit 1185.5 1192.6 1218.6 1271.6 1343.1 1428.3 1312.1 1349.6 1383.6 1428.3 1405.8 25

 26 Corporate equities 73.6 67.4 71.3 101.3 108.5 99.9 109.0 108.1 93.5 99.9 93.6 26

 27 Mutual fund shares 45.0 41.7 45.8 57.9 59.7 54.9 59.4 59.9 53.5 54.9 56.3 27

 28 Life insurance reserves 116.0 125.5 138.0 143.8 149.6 156.2 150.9 153.1 154.5 156.2 157.6 28

 29 U.S. direct investment abroad 280.1 272.5 277.0 268.5 252.9 241.8 254.1 256.4 254.7 241.8 247.1 29

 30 Miscellaneous assets 683.0 704.8 602.8 528.1 547.7 551.5 559.6 541.9 566.8 551.5 583.5 30

 31 Total liabilities 11709.0 12155.8 12719.5 13299.2 14294.1 14793.7 14476.3 14425.8 14504.5 14793.7 14994.1 31

 32 Net interbank liabilities 428.3 164.9 36.7 227.8 282.3 229.3 306.8 204.2 164.7 229.3 184.0 32

 33 Federal Reserve float -1.4 -0.6 -0.5 -1.0 -0.6 -0.0 -0.7 -0.4 -0.1 -0.0 -1.2 33

 34 Borrowing from Federal Reserve banks 0.2 0.2 0.1 0.1 0.1 0.1 0.0 0.2 0.3 0.1 0.1 34

 35 To domestic banks 21.3 62.1 18.7 57.2 12.0 -5.0 4.1 -5.3 -3.9 -5.0 -18.2 35

 36 To foreign banks 408.2 103.3 18.5 171.4 270.7 234.2 303.4 209.8 168.4 234.2 203.3 36

 37 Checkable deposits 941.1 1260.5 1431.7 1579.8 1716.1 1766.4 1698.6 1717.2 1671.9 1766.4 1778.1 37

 38 Federal government 3.6 1.0 1.3 1.6 2.5 2.3 2.5 2.3 2.3 2.3 2.2 38

 39 Private domestic 907.0 1203.5 1378.5 1527.1 1657.1 1722.1 1640.3 1662.5 1628.6 1722.1 1727.6 39

 40 Rest of the world 30.4 56.1 51.8 51.2 56.5 41.9 55.8 52.4 41.0 41.9 48.3 40

 41 Small time and savings deposits 5888.6 6425.7 6979.2 7236.0 7579.8 8042.0 7802.9 7780.9 7906.7 8042.0 8202.5 41

 42 Large time deposits 896.1 882.9 803.0 826.9 929.3 951.2 924.2 919.7 948.2 951.2 962.2 42

 43 Federal funds and security repos 484.0 402.5 349.9 269.4 236.2 196.8 228.7 226.2 205.9 196.8 193.7 43

 44 Debt securities 490.1 500.1 383.4 280.7 263.5 254.2 243.6 244.7 247.3 254.2 263.4 44

 45 Open market paper 113.0 120.6 87.5 59.7 54.5 53.6 49.0 50.1 51.1 53.6 56.6 45

 46 Corporate bonds 377.1 379.4 295.9 221.0 209.0 200.6 194.6 194.5 196.2 200.6 206.9 46

 47 Loans (other loans and advances) 392.8 332.1 336.7 410.1 468.2 499.6 436.0 478.1 460.2 499.6 485.5 47

 48 Taxes payable (net) -59.6 -49.1 -47.6 -47.4 -32.3 -36.7 -27.5 -34.4 -32.2 -36.7 -26.3 48

 49 Miscellaneous liabilities 2247.6 2236.1 2446.4 2516.2 2851.0 2890.9 2863.0 2889.1 2931.9 2890.9 2951.0 49

 50 Investment by holding companies 1632.8 1709.0 1889.2 1937.2 2133.2 2171.3 2112.8 2141.6 2160.8 2171.3 2208.0 50

 51 Other 614.7 527.1 557.2 578.9 717.8 719.6 750.3 747.5 771.1 719.6 743.0 51

 Memo:

 52 Consumer leases not included above (1) 6.2 6.0 6.5 7.9 8.6 8.0 8.6 8.6 8.3 8.0 8.1 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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L.112 Foreign Banking Offices in U.S. (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1268.3 1736.4 1720.6 2037.1 2093.4 1951.5 2082.2 2105.8 2090.1 1951.5 2040.7 1

 2 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Reserves at Federal Reserve 350.8 711.0 638.8 948.0 888.8 690.3 872.3 886.7 871.1 690.3 749.2 3

 4 Federal funds and security repos 88.4 120.1 178.3 177.1 218.1 218.5 199.8 210.5 198.5 218.5 205.8 4

 5 Debt securities 325.6 327.8 339.2 288.8 274.3 265.3 265.8 253.3 262.7 265.3 286.5 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 60.9 60.5 76.6 67.0 56.5 69.8 55.7 57.3 54.7 69.8 78.8 7

 8 Agency- and GSE-backed securities 26.5 30.6 32.1 25.4 20.5 23.1 19.3 23.3 20.9 23.1 23.2 8

 9 Municipal securities 0.0 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 238.2 236.7 230.5 196.4 197.3 172.4 190.8 172.8 187.2 172.4 184.6 10

 11 Loans 474.3 533.4 520.5 566.2 640.9 719.0 668.5 685.4 696.8 719.0 735.0 11

 12 Depository institution loans n.e.c. 438.9 500.6 489.6 535.9 603.3 667.6 631.1 644.4 650.1 667.6 679.0 12

 13 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Mortgages 35.4 32.8 30.9 30.3 37.6 51.3 37.4 41.0 46.6 51.3 56.0 14

 15 Corporate equities 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Miscellaneous assets 29.2 44.2 43.9 57.0 71.3 58.4 75.8 69.9 61.0 58.4 64.1 16

 17 Total liabilities 1351.5 1851.1 1878.9 2146.2 2205.2 2058.6 2180.8 2217.1 2219.2 2058.6 2111.3 17

 18 Net interbank liabilities -347.1 157.5 155.6 330.6 197.7 149.1 166.9 229.6 257.0 149.1 134.8 18

 19 To foreign banks -384.0 134.8 83.6 242.8 174.4 120.8 139.0 202.7 225.7 120.8 102.2 19

 20 To domestic banks 36.9 22.7 72.0 87.8 23.3 28.3 27.9 26.9 31.3 28.3 32.6 20

 21 Checkable deposits 21.9 45.6 61.8 92.6 137.8 154.1 149.4 161.2 152.8 154.1 172.3 21

 22 Small time and savings deposits 35.7 48.9 62.7 90.4 84.5 97.5 126.4 88.8 96.8 97.5 98.2 22

 23 Large time deposits 977.7 814.6 798.4 869.5 971.8 837.4 924.7 926.3 893.9 837.4 845.2 23

 24 Federal funds and security repos 250.0 304.4 325.0 312.7 371.3 406.6 369.9 374.8 375.4 406.6 403.4 24

 25 Debt securities (open market paper) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Foreign direct investment in U.S. 120.0 176.6 207.7 215.9 219.3 200.2 217.7 222.2 222.6 200.2 202.9 26

 27 Miscellaneous liabilities 293.3 303.4 267.8 234.6 222.8 213.7 225.7 214.2 220.8 213.7 254.7 27

 28 Investment by funding corporations 171.6 137.8 126.0 123.5 103.2 105.4 96.2 109.1 108.4 105.4 127.1 28

 29 Other 121.7 165.6 141.7 111.1 119.6 108.3 129.4 105.1 112.4 108.3 127.6 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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L.113 Banks in U.S.-Affiliated Areas (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 79.9 75.8 75.8 84.7 91.9 88.5 85.8 90.9 89.4 88.5 93.4 1

 2 Debt securities 17.0 13.5 10.9 12.4 11.1 11.9 11.1 11.4 11.4 11.9 11.8 2

 3 Treasury securities 1.1 1.0 0.4 1.2 1.3 2.4 1.5 1.8 2.2 2.4 2.5 3

 4 Agency- and GSE-backed securities 12.8 4.8 2.6 1.9 1.7 1.8 1.5 1.8 1.8 1.8 1.5 4

 5 Municipal securities 2.5 3.4 2.6 3.6 2.7 2.1 2.7 2.5 2.2 2.1 2.0 5

 6 Corporate and foreign bonds 0.6 4.2 5.2 5.8 5.3 5.6 5.4 5.3 5.2 5.6 5.8 6

 7 Loans 51.9 50.5 53.0 51.8 47.4 41.7 43.4 42.6 41.9 41.7 41.2 7

 8 Depository institution loans n.e.c. 16.1 17.1 18.1 19.4 17.1 15.1 15.6 15.5 15.1 15.1 14.6 8

 9 Home mortgages 20.1 17.8 20.0 18.9 17.4 15.8 16.5 16.3 16.1 15.8 15.7 9

 10 Commercial mortgages 15.7 15.6 14.9 13.5 13.0 10.8 11.3 10.8 10.8 10.8 10.9 10

 11 Miscellaneous assets 11.0 11.8 12.0 20.5 33.4 34.9 31.3 36.9 36.1 34.9 40.3 11

 12 Total liabilities 75.2 72.1 72.0 80.5 87.6 84.2 82.3 87.8 85.4 84.2 89.9 12

 13 Net interbank liabilities -3.3 -4.6 -4.9 -4.7 -5.3 -5.1 -5.7 -6.2 -5.4 -5.1 -5.8 13

 14 Checkable deposits 16.6 19.4 21.9 28.2 33.4 35.0 33.0 35.8 35.4 35.0 38.4 14

 15 Small time and savings deposits 19.3 18.9 18.8 21.4 23.4 21.9 21.6 22.8 22.3 21.9 23.3 15

 16 Large time deposits 19.3 18.9 18.8 21.4 23.4 21.9 21.6 22.8 22.3 21.9 23.3 16

 17 Miscellaneous liabilities 23.3 19.4 17.3 14.3 12.7 10.4 11.8 12.6 10.9 10.4 10.8 17

(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; amounts outstanding end of period, not seasonally adjusted

 1 Total financial assets 875.7 928.5 970.8 1003.3 1065.9 1150.5 1104.4 1112.5 1125.2 1150.5 1190.4 1

 2 Reserves at Federal Reserve 41.5 52.6 53.8 48.1 45.7 51.2 59.6 49.9 47.7 51.2 64.3 2

 3 Federal funds and security repos 0.0 15.9 9.7 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities 178.3 209.2 227.2 231.7 222.8 219.9 228.1 225.3 216.2 219.9 221.4 4

 5 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury securities 20.1 17.6 19.3 19.1 21.6 29.2 22.9 23.3 22.9 29.2 28.8 6

 7 Agency- and GSE-backed securities 151.5 182.1 197.0 199.2 187.5 175.6 190.1 186.9 178.3 175.6 176.4 7

 8 Municipal securities 0.0 3.2 4.2 4.6 3.8 4.3 3.9 4.2 4.4 4.3 4.8 8

 9 Corporate and foreign bonds 6.6 6.3 6.7 8.9 9.9 10.8 11.1 10.9 10.7 10.8 11.4 9

 10 Loans 580.3 587.0 615.1 660.1 728.9 804.9 739.4 763.5 787.5 804.9 822.3 10

 11 Depository institution loans n.e.c. 36.9 43.5 43.6 48.7 53.7 58.3 54.6 53.7 56.4 58.3 62.2 11

 12 Home mortgages 317.0 320.5 327.8 345.9 372.5 404.9 377.1 387.1 397.7 404.9 409.5 12

 13 Consumer credit 226.5 223.0 243.6 265.6 302.8 341.7 307.7 322.7 333.4 341.7 350.6 13

 14 Mutual fund shares 1.5 1.9 2.3 2.2 2.1 1.9 2.0 2.1 2.1 1.9 1.9 14

 15 Miscellaneous assets 74.1 61.9 62.7 61.1 66.4 72.6 75.3 71.6 71.6 72.6 80.4 15

 16 Total liabilities 810.9 830.0 868.7 906.9 958.4 1036.4 993.3 1000.5 1011.3 1036.4 1071.5 16

 17 Net interbank liabilities -30.0 -51.9 -65.7 -63.5 -62.8 -60.5 -62.0 -62.9 -61.7 -60.5 -63.8 17

 18 Shares/deposits 803.8 845.3 896.6 929.2 970.4 1036.3 1004.5 1006.8 1012.3 1036.3 1072.2 18

 19 Checkable 92.4 103.1 113.9 121.7 133.9 153.4 142.6 139.9 140.7 153.4 158.7 19

 20 Small time and savings 681.3 708.7 743.1 763.1 788.1 828.1 811.7 816.2 818.9 828.1 855.6 20

 21 Large time 30.1 33.5 39.7 44.3 48.4 54.8 50.2 50.7 52.7 54.8 58.0 21

 22 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 0.0 22

 23 Loans (other loans and advances) 26.1 24.2 25.1 27.0 35.4 44.7 34.9 39.9 44.9 44.7 42.9 23

 24 Miscellaneous liabilities 11.1 12.4 12.7 14.2 15.4 16.0 15.9 16.7 15.7 16.0 20.2 24
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L.115 Property-Casualty Insurance Companies

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1360.5 1380.7 1442.7 1536.2 1586.3 1581.4 1581.5 1584.0 1575.8 1581.4 1591.6 1

 2 Checkable deposits and currency 32.6 24.1 36.4 29.7 35.6 32.7 35.4 30.4 34.2 32.7 30.7 2

 3 Money market fund shares 25.6 20.0 22.3 20.1 18.3 21.5 18.9 19.5 20.6 21.5 20.6 3

 4 Security repurchase agreements 3.8 2.4 1.7 1.7 1.8 1.8 1.7 1.7 1.8 1.8 1.7 4

 5 Debt securities 886.4 921.9 922.2 950.8 970.6 968.3 963.4 966.9 966.4 968.3 974.9 5

 6 Open market paper 7.9 8.8 7.4 8.1 7.9 8.8 8.1 8.2 8.6 8.8 8.5 6

 7 Treasury securities 91.7 96.4 89.7 96.1 102.4 99.2 100.9 100.2 99.8 99.2 99.3 7

 8 Agency- and GSE-backed securities 115.8 122.7 114.3 109.5 106.2 98.6 103.5 102.1 100.2 98.6 99.4 8

 9 Municipal securities 348.4 331.0 328.1 326.4 322.1 330.4 322.0 325.7 327.5 330.4 333.0 9

 10 Corporate and foreign bonds 322.6 363.1 382.7 410.8 432.0 431.2 428.9 430.8 430.3 431.2 434.7 10

 11 Loans (commercial mortgages) 4.1 4.9 5.6 7.9 9.9 12.3 10.4 10.9 11.5 12.3 13.4 11

 12 Corporate equities 214.8 220.8 252.2 310.4 325.4 316.8 320.4 317.0 303.0 316.8 316.2 12

 13 Mutual fund shares 10.2 9.1 11.8 14.8 16.8 17.4 17.5 17.7 16.8 17.4 17.7 13

 14 Trade receivables 83.8 87.2 92.0 95.2 100.8 106.8 106.1 109.3 110.7 106.8 111.0 14

 15 U.S. direct investment abroad 99.1 90.2 98.5 105.5 107.1 103.7 107.6 110.4 110.8 103.7 105.3 15

 16 Miscellaneous assets (equity in FHLB) 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 16

 17 Total liabilities 824.0 859.7 864.1 869.1 889.3 904.4 886.4 889.9 896.1 904.4 911.8 17

 18 Security repurchase agreements 1.5 3.1 2.1 1.5 1.0 1.4 1.1 1.1 1.3 1.4 1.6 18

 19 Loans (other loans and advances) 0.8 0.9 1.3 2.1 2.2 2.4 2.2 2.4 2.4 2.4 2.3 19

 20 Taxes payable (net) -10.1 -14.5 -10.8 8.4 10.3 2.1 10.6 5.9 0.1 2.1 3.4 20

 21 Foreign direct investment in U.S. 70.7 73.9 58.1 44.1 47.9 55.9 47.3 47.0 48.6 55.9 55.5 21

 22 Miscellaneous liabilities 761.2 796.4 813.4 813.1 827.8 842.6 825.0 833.4 843.7 842.6 849.0 22

 23 Investment by parent companies 0.0 0.0 11.2 5.2 5.3 4.5 3.9 4.6 4.8 4.5 4.0 23

 24 Policy payables 761.2 796.4 802.1 807.8 822.5 838.1 821.1 828.8 838.9 838.1 845.0 24
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L.116 Life Insurance Companies (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 5167.8 5340.1 5614.7 5977.3 6227.1 6279.0 6314.8 6297.4 6222.6 6279.0 6372.3 1

 2 Checkable deposits and currency 51.7 53.7 56.4 47.2 50.8 57.7 49.2 41.8 52.1 57.7 55.9 2

 3 Money market fund shares 57.5 65.3 59.5 49.4 53.4 56.1 51.5 50.4 61.6 56.1 58.3 3

 4 Security repurchase agreements 10.9 6.1 8.2 2.9 3.4 8.5 8.4 8.0 9.6 8.5 7.9 4

 5 Debt securities 2716.0 2818.5 2879.1 2934.2 3004.3 3075.2 3027.5 3041.0 3065.3 3075.2 3138.5 5

 6 Open market paper 40.9 29.7 43.6 46.7 42.2 34.7 39.9 37.1 38.6 34.7 37.5 6

 7 Treasury securities 156.6 175.4 180.9 168.6 182.9 197.6 191.8 193.1 198.0 197.6 202.1 7

 8 Agency- and GSE-backed securities 376.0 374.4 360.9 354.1 339.1 324.8 336.9 333.7 328.9 324.8 331.4 8

 9 Municipal securities 112.3 121.8 131.5 141.6 147.8 158.5 149.9 152.4 155.6 158.5 161.8 9

 10 Corporate and foreign bonds 2030.2 2117.3 2162.2 2223.0 2292.3 2359.6 2309.1 2324.7 2344.2 2359.6 2405.8 10

 11 Loans 458.2 481.1 494.8 517.1 546.6 586.4 552.5 560.7 570.6 586.4 590.8 11

 12 Other loans and advances 140.7 148.6 150.4 153.9 161.9 161.7 162.8 161.2 162.0 161.7 160.7 12

 13 Mortgages 317.5 332.5 344.4 363.2 384.8 424.7 389.7 399.5 408.6 424.7 430.1 13

 14 Corporate equities 222.2 236.1 255.1 298.5 316.5 306.2 320.1 320.0 296.4 306.2 310.4 14

 15 Mutual fund shares 1299.5 1267.7 1417.3 1652.9 1702.7 1634.7 1731.3 1715.5 1592.1 1634.7 1625.5 15

 16 U.S. direct investment abroad 46.3 54.2 69.1 72.2 72.8 64.9 74.7 76.0 75.5 64.9 64.7 16

 17 Miscellaneous assets 305.6 357.4 375.2 403.0 476.6 489.3 499.7 484.0 499.5 489.3 520.2 17

 18 Equity in FHLB 2.7 2.0 2.0 2.9 3.0 3.4 3.1 3.2 3.1 3.4 3.4 18

 19 Deferred and unpaid life ins. premiums 24.7 24.3 24.9 27.9 29.1 30.6 30.2 31.0 30.6 30.6 31.8 19

 20 Other 278.1 331.1 348.2 372.2 444.5 455.4 466.4 449.7 465.8 455.4 485.0 20

 21 Total liabilities 4844.3 5002.2 5248.8 5602.8 5828.1 5886.3 5913.9 5903.6 5830.8 5886.3 5979.6 21

 22 Security repurchase agreements 10.3 12.1 14.4 20.9 21.9 22.8 22.1 22.4 22.4 22.8 22.9 22

 23 Loans (other loans and advances) 43.4 44.9 48.2 50.1 51.9 57.2 54.1 55.9 57.0 57.2 59.7 23

 24 Life insurance reserves 1229.9 1302.3 1309.0 1366.3 1426.1 1464.6 1446.2 1452.9 1450.0 1464.6 1480.8 24

 25 Pension entitlements (2) 2198.7 2247.9 2433.0 2705.9 2820.5 2837.6 2843.6 2853.6 2783.7 2837.6 2862.6 25

 26 Taxes payable (net) -28.8 -23.6 -28.3 -30.5 -32.4 -33.1 -29.9 -31.3 -33.5 -33.1 -31.7 26

 27 Foreign direct investment in U.S. 84.3 103.6 105.3 88.1 101.4 96.4 108.4 109.2 108.9 96.4 96.5 27

 28 Miscellaneous liabilities 1306.6 1315.0 1367.2 1402.1 1438.8 1440.8 1469.3 1440.9 1442.4 1440.8 1488.8 28

 29 Investment by parent companies 62.7 72.0 17.2 10.7 11.5 12.0 11.8 11.8 12.1 12.0 12.9 29

 30 Funding agreements backing securities (3) 78.4 70.0 69.6 61.1 70.4 72.0 71.9 70.4 67.4 72.0 71.1 30

 31 Other reserves (4) 290.7 305.5 303.7 304.2 310.0 318.8 313.5 314.0 319.0 318.8 325.5 31

 32 Unallocated insurance contracts 626.4 633.7 653.3 675.9 677.0 676.4 684.4 683.0 660.3 676.4 678.0 32

 33 Other 248.4 233.8 323.4 350.1 370.0 361.6 387.8 361.7 383.7 361.6 401.2 33

(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 32.

(3) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

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

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3335.5 3512.5 3570.3 3657.0 3812.9 3886.5 3792.0 3797.6 3867.2 3886.5 3974.1 1

 2 Checkable deposits and currency 32.4 35.3 36.7 31.9 35.4 44.4 34.4 27.4 38.3 44.4 42.2 2

 3 Money market fund shares 21.0 28.8 27.5 21.6 27.7 28.5 27.4 26.3 31.9 28.5 30.4 3

 4 Security repurchase agreements 10.9 6.1 8.2 2.9 3.4 8.5 8.4 8.0 9.6 8.5 7.9 4

 5 Debt securities 2439.6 2538.4 2561.3 2610.9 2682.0 2725.9 2666.4 2680.3 2705.1 2725.9 2779.7 5

 6 Open market paper 21.2 8.6 24.5 25.9 19.8 15.4 18.3 16.4 18.5 15.4 17.6 6

 7 Treasury securities 128.9 139.2 140.5 129.2 138.3 144.0 138.3 139.5 142.8 144.0 147.0 7

 8 Agency- and GSE-backed securities 283.5 282.0 277.1 270.5 267.2 254.5 261.6 258.7 256.5 254.5 259.2 8

 9 Municipal securities 108.3 117.5 126.6 135.7 141.0 150.6 142.1 144.6 147.5 150.6 153.7 9

 10 Corporate and foreign bonds 1897.7 1991.0 1992.6 2049.6 2115.6 2161.3 2106.2 2121.2 2139.9 2161.3 2202.1 10

 11 Loans 447.3 471.0 486.0 506.4 534.5 560.6 527.4 535.4 545.0 560.6 564.9 11

 12 Other loans and advances 140.2 148.1 150.0 153.6 161.5 156.4 157.6 156.1 156.8 156.4 155.7 12

 13 Mortgages 307.1 322.9 336.0 352.8 373.0 404.2 369.8 379.4 388.2 404.2 409.3 13

 14 Corporate equities 74.3 75.3 74.0 76.5 82.1 81.2 82.4 85.2 83.5 81.2 84.6 14

 15 Mutual fund shares 2.6 3.1 3.4 3.7 3.9 3.8 3.9 3.9 3.7 3.8 3.8 15

 16 U.S. direct investment abroad 46.3 54.2 69.1 72.2 72.8 64.9 74.7 76.0 75.5 64.9 64.7 16

 17 Miscellaneous assets 261.2 300.3 304.1 330.8 371.2 368.8 367.0 355.0 374.6 368.8 395.9 17

 18 Total liabilities 3007.6 3170.3 3198.0 3275.9 3406.8 3475.6 3382.0 3392.3 3460.9 3475.6 3563.3 18

 19 Security repurchase agreements 10.3 12.1 14.4 20.9 21.9 22.8 22.1 22.4 22.4 22.8 22.9 19

 20 Loans (other loans and advances) 43.4 44.9 48.2 50.1 51.9 57.2 54.1 55.9 57.0 57.2 59.7 20

 21 Life insurance reserves 1001.5 1074.5 1068.3 1096.6 1142.7 1146.8 1122.4 1128.7 1139.7 1146.8 1162.3 21

 22 Pension entitlements (1) 860.0 904.4 906.2 952.3 994.8 1049.7 974.7 996.9 1034.4 1049.7 1070.3 22

 23 Taxes payable (net) -28.8 -23.6 -28.3 -30.5 -32.4 -33.1 -29.9 -31.3 -33.5 -33.1 -31.7 23

 24 Foreign direct investment in U.S. 84.3 103.6 105.3 88.1 101.4 96.4 108.4 109.2 108.9 96.4 96.5 24

 25 Miscellaneous liabilities 1037.0 1054.4 1084.0 1098.4 1126.5 1135.7 1130.1 1110.6 1132.0 1135.7 1183.3 25

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 25).

L.116.s Life Insurance Companies: Separate Accounts

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

 1 Total financial assets 1832.4 1827.6 2044.4 2320.3 2414.2 2392.6 2522.8 2499.8 2355.4 2392.6 2398.2 1

 2 Checkable deposits and currency 19.3 18.4 19.7 15.3 15.4 13.3 14.9 14.3 13.8 13.3 13.7 2

 3 Money market fund shares 36.5 36.5 32.0 27.8 25.7 27.6 24.1 24.2 29.7 27.6 27.9 3

 4 Debt securities 276.4 280.1 317.8 323.2 322.3 349.4 361.1 360.7 360.1 349.4 358.8 4

 5 Open market paper 19.7 21.1 19.1 20.9 22.3 19.3 21.5 20.8 20.0 19.3 19.8 5

 6 Treasury securities 27.7 36.2 40.4 39.5 44.6 53.6 53.5 53.6 55.3 53.6 55.1 6

 7 Agency- and GSE-backed securities 92.4 92.4 83.8 83.6 71.9 70.3 75.3 75.0 72.4 70.3 72.2 7

 8 Municipal securities 4.0 4.3 4.9 5.9 6.8 7.9 7.8 7.9 8.1 7.9 8.1 8

 9 Corporate and foreign bonds 132.5 126.2 169.6 173.4 176.7 198.3 202.9 203.4 204.3 198.3 203.7 9

 10 Loans 10.9 10.1 8.8 10.7 12.1 25.8 25.1 25.3 25.6 25.8 25.9 10

 11 Other loans and advances 0.5 0.5 0.4 0.4 0.4 5.3 5.2 5.2 5.2 5.3 5.0 11

 12 Mortgages 10.3 9.6 8.5 10.4 11.8 20.5 19.9 20.1 20.4 20.5 20.9 12

 13 Corporate equities 147.9 160.8 181.0 222.0 234.4 225.0 237.7 234.8 212.9 225.0 225.8 13

 14 Mutual fund shares 1296.9 1264.6 1413.9 1649.2 1698.9 1631.0 1727.4 1711.6 1588.4 1631.0 1621.8 14

 15 Miscellaneous assets 44.5 57.2 71.1 72.1 105.4 120.5 132.7 129.0 124.9 120.5 124.4 15

 16 Total liabilities 1836.6 1831.9 2050.8 2327.0 2421.3 2410.8 2531.9 2511.4 2369.9 2410.8 2416.3 16

 17 Life insurance reserves 228.4 227.8 240.7 269.7 283.4 317.8 323.7 324.3 310.2 317.8 318.5 17

 18 Pension entitlements (1) 1338.6 1343.5 1526.8 1753.7 1825.6 1787.8 1868.9 1856.7 1749.3 1787.8 1792.3 18

 19 Miscellaneous liabilities 269.6 260.5 283.3 303.6 312.3 305.1 339.2 330.4 310.3 305.1 305.4 19

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 21).
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L.117 Private and Public Pension Funds (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (2) 14532.1 14903.6 15741.1 16895.3 17570.9 17916.7 17752.7 17853.1 17620.9 17916.7 18025.1 1

 2 Checkable deposits and currency 16.4 22.1 19.8 19.6 20.6 22.6 21.2 21.5 21.7 22.6 23.2 2

 3 Time and savings deposits 63.9 68.0 61.4 68.3 73.2 80.1 76.4 78.0 77.4 80.1 81.9 3

 4 Money market fund shares 192.3 208.2 187.6 203.4 199.0 206.9 201.8 201.1 201.6 206.9 210.1 4

 5 Security repurchase agreements 5.9 6.0 5.5 6.1 6.6 7.1 6.9 7.0 6.9 7.1 7.1 5

 6 Debt securities 2860.7 3036.8 3233.2 3520.7 3675.1 3787.7 3590.0 3462.5 3357.2 3787.7 3798.0 6

 7 Open market paper 74.5 78.9 71.3 79.1 85.5 92.7 89.2 91.1 89.8 92.7 94.9 7

 8 Treasury securities (3) 1626.7 1766.3 1894.4 2018.6 2107.1 2200.5 2000.3 1872.7 1776.2 2200.5 2190.7 8

 9 Agency- and GSE-backed securities 339.3 304.1 282.8 278.2 263.1 248.3 259.0 253.5 247.5 248.3 245.7 9

 10 Municipal securities 2.0 1.4 1.4 2.4 3.3 2.9 2.0 3.8 2.1 2.9 3.0 10

 11 Corporate and foreign bonds 818.3 886.0 983.3 1142.4 1216.2 1243.3 1239.5 1241.4 1241.5 1243.3 1263.8 11

 12 Loans (mortgages) 38.0 32.9 33.1 31.8 31.7 28.4 28.7 28.5 27.7 28.4 28.1 12

 13 Corporate equities 3647.8 3470.1 3850.2 4623.0 4871.6 4616.3 4939.6 4897.5 4476.8 4616.3 4551.9 13

 14 Mutual fund shares 2688.9 2590.6 2890.5 3513.3 3770.3 3721.3 3832.3 3840.9 3595.1 3721.3 3732.0 14

 15 Miscellaneous assets 5018.1 5469.0 5459.9 4909.1 4922.8 5446.5 5055.8 5316.3 5856.6 5446.5 5592.8 15

 16 Unallocated insurance contracts (4) 626.4 633.7 653.3 675.9 677.0 676.4 684.4 683.0 660.3 676.4 678.0 16

 17 Contributions receivable 90.8 93.8 81.4 79.0 77.9 80.7 79.6 79.9 79.8 80.7 79.2 17

 18 Claims of pension fund on sponsor (5) 3634.2 4027.9 3977.9 3365.2 3345.5 3840.8 3456.9 3715.4 4276.5 3840.8 3978.9 18

 19 Other 666.8 713.6 747.2 789.0 822.5 848.6 834.9 838.1 840.0 848.6 856.6 19

 20 Pension entitlements (liabilities) (6) 14675.1 15050.9 15901.7 17077.9 17766.8 18107.9 17951.4 18050.7 17810.8 18107.9 18217.6 20

 Memo:

 Funded status of defined benefit plans:

 21 Pension entitlements 10172.8 10563.6 10907.3 11196.0 11505.8 11813.0 11582.6 11659.6 11735.7 11813.0 11889.9 21

 22 Funded by assets (7) 6538.6 6535.7 6930.6 7830.8 8160.3 7972.1 8186.6 8071.8 7659.1 7972.1 7911.0 22

 23 Unfunded (line 18) 3634.2 4027.9 3976.7 3365.2 3345.5 3840.8 3396.0 3587.8 4076.6 3840.8 3978.9 23

 24 Household retirement assets (8) 21305.7 21834.5 23454.1 25898.3 27091.4 27504.3 27463.4 27632.7 26974.6 27504.3 ND 24

 25 Defined benefit plans 10029.8 10416.3 10746.7 11013.4 11309.9 11621.8 11384.0 11462.1 11545.8 11621.8 11697.4 25

 26 Defined contribution plans 4502.3 4487.3 4994.4 5881.9 6261.0 6294.9 6368.7 6391.0 6075.1 6294.9 6327.7 26

 27 Individual retirement plans (IRAs) (9) 5029.0 5153.0 5785.0 6835.0 7266.0 7329.0 7445.0 7504.0 7133.0 7329.0 ND 27

 28 Annuities at life insurance companies (10) 1744.7 1777.9 1928.0 2167.9 2254.5 2258.6 2265.6 2275.6 2220.7 2258.6 ND 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) Includes both marketable and nonmarketable government securities.

(4) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(8) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(9) IRA assets are not included above. See memo items on table L.227 for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs are excluded. They are included in line 27.
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L.118 Private Pension Funds (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (2) 6599.4 6713.4 7239.7 8061.0 8466.8 8534.3 8569.0 8600.1 8337.9 8534.3 8574.2 1

 2 Checkable deposits and currency 12.4 17.9 16.0 15.6 16.0 17.6 16.4 16.5 16.8 17.6 18.0 2

 3 Time and savings deposits 30.9 32.7 28.9 33.6 33.8 36.8 34.7 35.1 35.8 36.8 37.6 3

 4 Money market fund shares 141.9 159.0 142.2 154.7 145.5 148.9 145.7 143.5 146.5 148.9 150.9 4

 5 Security repurchase agreements 2.7 2.7 2.4 2.8 2.8 3.0 2.9 3.0 2.9 3.0 3.0 5

 6 Debt securities 851.9 927.0 1069.8 1159.6 1182.6 1225.2 1196.6 1198.2 1209.6 1225.2 1241.4 6

 7 Open market paper 38.1 40.5 35.8 41.2 42.4 45.6 43.8 44.4 44.4 45.6 46.7 7

 8 Treasury securities 199.9 238.4 301.8 299.8 312.6 328.0 318.2 321.8 324.7 328.0 330.0 8

 9 Agency- and GSE-backed securities 178.8 169.4 171.3 165.5 155.0 147.8 153.2 149.7 147.8 147.8 146.5 9

 10 Corporate and foreign bonds 435.0 478.7 560.8 653.0 672.6 703.9 681.5 682.3 692.8 703.9 718.2 10

 11 Loans (mortgages) 26.5 21.9 23.1 22.4 22.5 21.1 21.9 21.2 20.9 21.1 21.0 11

 12 Corporate equities 1778.1 1680.4 1890.7 2243.8 2370.2 2252.4 2397.8 2377.6 2169.8 2252.4 2222.8 12

 13 Mutual fund shares 2219.4 2203.6 2483.5 3008.0 3253.8 3235.3 3309.6 3327.2 3124.1 3235.3 3246.2 13

 14 Miscellaneous assets 1535.5 1668.2 1583.2 1420.6 1439.7 1593.9 1443.3 1478.0 1611.5 1593.9 1633.3 14

 15 Unallocated insurance contracts (3) 466.5 483.7 503.5 525.2 532.1 530.0 537.6 535.6 517.3 530.0 531.6 15

 16 Contributions receivable 90.8 93.8 81.4 79.0 77.9 80.7 79.6 79.9 79.8 80.7 79.2 16

 17 Claims of pension fund on sponsor (4) 448.6 517.7 391.0 181.7 166.3 297.3 154.8 187.4 335.8 297.3 329.1 17

 18 Other 529.7 573.1 607.2 634.8 663.4 686.0 671.3 675.0 678.7 686.0 693.4 18

 19 Pension entitlements (liabilities) (5) 6635.9 6749.9 7276.2 8097.6 8503.3 8570.9 8605.5 8636.7 8374.5 8570.9 8610.8 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 2872.2 2983.7 3055.4 3093.7 3135.8 3177.8 3146.3 3156.8 3167.3 3177.8 3188.3 20

 21 Funded by assets (6) 2423.6 2466.0 2664.3 2912.0 2969.5 2880.5 2991.5 2969.4 2831.5 2880.5 2859.2 21

 22 Unfunded (line 17) 448.6 517.7 391.0 181.7 166.3 297.3 154.8 187.4 335.8 297.3 329.1 22

 Total financial assets (7)

 23 Defined benefit plans 2835.7 2947.1 3018.8 3057.2 3099.3 3141.2 3109.7 3120.2 3130.7 3141.2 3151.7 23

 24 Defined contribution plans 3763.7 3766.2 4220.8 5003.9 5367.5 5393.1 5459.2 5479.9 5207.2 5393.1 5422.5 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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L.118.b Private Pension Funds: Defined Benefit Plans

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (1) 2835.7 2947.1 3018.8 3057.2 3099.3 3141.2 3109.7 3120.2 3130.7 3141.2 3151.7 1

 2 Checkable deposits and currency 7.7 9.5 8.4 8.7 8.8 9.6 9.1 9.2 9.3 9.6 9.6 2

 3 Time and savings deposits 27.5 28.7 25.4 29.8 29.7 32.4 30.6 31.0 31.5 32.4 32.9 3

 4 Money market fund shares 34.7 34.3 30.3 35.7 34.2 33.4 33.7 32.5 32.7 33.4 33.8 4

 5 Security repurchase agreements 2.7 2.7 2.4 2.8 2.8 3.0 2.9 3.0 2.9 3.0 3.0 5

 6 Debt securities 596.9 677.4 761.3 835.6 850.6 872.5 858.7 856.4 862.5 872.5 883.3 6

 7 Open market paper 30.2 31.3 27.6 32.5 33.1 34.9 34.0 34.4 34.2 34.9 35.5 7

 8 Treasury securities 119.4 152.4 188.3 185.7 191.2 198.6 194.5 195.7 197.2 198.6 198.9 8

 9 Agency- and GSE-backed securities 119.0 119.7 110.6 104.4 98.4 93.5 97.3 95.5 93.8 93.5 92.1 9

 10 Corporate and foreign bonds 328.3 374.1 434.7 513.0 527.9 545.4 532.8 530.8 537.4 545.4 556.8 10

 11 Loans (mortgages) 18.2 15.8 15.7 14.6 14.2 13.0 13.8 13.2 12.9 13.0 12.8 11

 12 Corporate equities 1010.7 929.5 1048.0 1165.0 1196.9 1100.9 1205.0 1191.3 1076.6 1100.9 1070.9 12

 13 Mutual fund shares 348.0 356.2 359.1 408.0 413.9 394.4 415.8 412.2 386.7 394.4 392.8 13

 14 Miscellaneous assets 789.3 893.0 768.2 557.0 548.0 682.1 540.1 571.5 715.6 682.1 712.6 14

 15 Unallocated insurance contracts (2) 52.8 64.5 58.1 60.7 62.0 61.9 62.6 62.1 59.1 61.9 61.2 15

 16 Contributions receivable 63.1 64.8 52.4 48.3 46.4 48.1 47.6 47.9 47.3 48.1 46.3 16

 17 Claims of pension fund on sponsor (3) 448.6 517.7 391.0 181.7 166.3 297.3 154.8 187.4 335.8 297.3 329.1 17

 18 Other 224.8 246.0 266.6 266.3 273.3 274.8 275.2 274.1 273.5 274.8 275.9 18

 19 Pension entitlements (liabilities) (4) 2872.2 2983.7 3055.4 3093.7 3135.8 3177.8 3146.3 3156.8 3167.3 3177.8 3188.3 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; amounts outstanding end of period, not seasonally adjusted

 1 Total financial assets 3763.7 3766.2 4220.8 5003.9 5367.5 5393.1 5459.2 5479.9 5207.2 5393.1 5422.5 1

 2 Checkable deposits and currency 4.7 8.5 7.5 6.9 7.1 7.9 7.3 7.3 7.6 7.9 8.4 2

 3 Time and savings deposits 3.4 3.9 3.5 3.7 4.0 4.5 4.1 4.1 4.2 4.5 4.7 3

 4 Money market fund shares 107.3 124.7 111.8 119.1 111.2 115.6 112.1 111.0 113.8 115.6 117.1 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 255.0 249.5 308.5 324.0 332.0 352.7 338.0 341.8 347.1 352.7 358.1 6

 7 Open market paper 7.9 9.2 8.2 8.7 9.4 10.6 9.7 9.9 10.2 10.6 11.2 7

 8 Treasury securities 80.5 86.0 113.5 114.2 121.3 129.4 123.7 126.1 127.5 129.4 131.1 8

 9 Agency- and GSE-backed securities 59.8 49.7 60.7 61.1 56.7 54.2 55.9 54.2 54.0 54.2 54.4 9

 10 Corporate and foreign bonds 106.7 104.7 126.1 140.0 144.7 158.5 148.6 151.5 155.4 158.5 161.4 10

 11 Loans (mortgages) 8.3 6.1 7.4 7.8 8.3 8.1 8.1 8.0 8.0 8.1 8.2 11

 12 Corporate equities 767.4 750.9 842.7 1078.8 1173.3 1151.6 1192.8 1186.3 1093.2 1151.6 1151.9 12

 13 Mutual fund shares 1871.4 1847.4 2124.3 2600.0 2839.9 2840.9 2893.8 2915.0 2737.4 2840.9 2853.4 13

 14 Miscellaneous assets 746.2 775.2 815.0 863.7 891.6 911.9 903.1 906.5 895.9 911.9 920.8 14

 15 Unallocated insurance contracts (2) 413.7 419.2 445.4 464.5 470.1 468.1 475.0 473.6 458.2 468.1 470.4 15

 16 Contributions receivable 27.7 29.0 29.0 30.7 31.5 32.6 32.0 32.0 32.6 32.6 32.9 16

 17 Other 304.9 327.0 340.6 368.5 390.0 411.2 396.1 400.9 405.2 411.2 417.6 17

 18 Pension entitlements (liabilities) 3763.7 3766.2 4220.8 5003.9 5367.5 5393.1 5459.2 5479.9 5207.2 5393.1 5422.5 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
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L.119 Federal Government Employee Retirement Funds

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (1) 3156.4 3261.1 3378.6 3533.0 3651.9 3757.5 3683.3 3708.9 3715.5 3757.5 3783.5 1

 2 Debt securities 1284.8 1381.1 1436.9 1544.7 1631.2 1723.4 1523.0 1395.6 1303.8 1723.4 1714.7 2

 3 Treasury securities (2) 1273.0 1367.2 1419.8 1530.6 1617.7 1708.9 1509.3 1381.7 1289.3 1708.9 1700.2 3

 4 Agency- and GSE-backed securities 5.8 6.5 8.1 6.4 5.9 6.1 6.0 6.1 6.0 6.1 6.1 4

 5 Corporate and foreign bonds 5.9 7.3 9.0 7.7 7.7 8.4 7.7 7.8 8.4 8.4 8.4 5

 6 Corporate equities 140.9 134.4 148.1 206.2 218.7 219.0 226.3 225.9 206.2 219.0 216.6 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 1730.8 1745.6 1793.6 1782.1 1802.0 1815.1 1934.0 2087.5 2205.5 1815.1 1852.2 7

 8 Pension entitlements (liabilities) (4) 3156.4 3261.1 3378.6 3533.0 3651.9 3757.5 3683.3 3708.9 3715.5 3757.5 3783.5 8

 Memo:

 Funded status of defined benefit plans:

 9 Pension entitlements 2891.9 2975.8 3062.4 3151.7 3240.0 3327.3 3261.9 3283.9 3305.0 3327.3 3349.2 9

 10 Funded by assets (5) 1161.1 1230.2 1270.0 1369.6 1438.0 1512.1 1388.8 1324.0 1299.4 1512.1 1497.0 10

 11 Unfunded (line 7) 1730.8 1745.6 1792.4 1782.1 1802.0 1815.1 1873.1 1959.9 2005.5 1815.1 1852.2 11

 Total financial assets (6)

 12 Defined benefit plans 2891.9 2975.8 3062.4 3151.7 3240.0 3327.3 3261.9 3283.9 3305.0 3327.3 3349.2 12

 13 Defined contribution plans 264.6 285.3 316.2 381.3 411.9 430.2 421.4 425.0 410.5 430.2 434.3 13

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes marketable and nonmarketable Treasury securities.

(3) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury. Negative values indicate overfunding.

(4) 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.

(5) Total defined benefit financial assets less defined benefit claims of pension fund on sponsor.

(6) 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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L.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (2) 2891.9 2975.8 3062.4 3151.7 3240.0 3327.3 3261.9 3283.9 3305.0 3327.3 3349.2 1

 2 Debt securities 1148.7 1219.8 1260.2 1358.4 1427.5 1503.4 1378.4 1313.7 1291.0 1503.4 1488.4 2

 3 Treasury securities (3) 1145.0 1215.4 1255.5 1353.7 1422.6 1498.0 1373.7 1309.1 1285.5 1498.0 1483.1 3

 4 Agency- and GSE-backed securities 0.9 0.7 0.5 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 4

 5 Corporate and foreign bonds 2.9 3.7 4.1 4.1 4.5 5.0 4.3 4.3 5.1 5.0 4.9 5

 6 Corporate equities 12.4 10.4 9.8 11.2 10.5 8.7 10.4 10.2 8.5 8.7 8.6 6

 7 Claims of pension fund on sponsor (misc. assets) (4) 1730.8 1745.6 1792.4 1782.1 1802.0 1815.1 1873.1 1959.9 2005.5 1815.1 1852.2 7

 8 Pension entitlements (liabilities) (5) 2891.9 2975.8 3062.4 3151.7 3240.0 3327.3 3261.9 3283.9 3305.0 3327.3 3349.2 8

(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) Includes both marketable and nonmarketable government securities.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

L.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 Total financial assets 264.6 285.3 316.2 381.3 411.9 430.2 421.4 425.0 410.5 430.2 434.3 1

 2 Debt securities 136.0 161.3 176.7 186.3 203.8 220.0 144.6 81.8 12.8 220.0 226.3 2

 3 Treasury securities (2) 128.1 151.8 164.2 176.9 195.0 210.9 135.6 72.6 3.9 210.9 217.0 3

 4 Agency- and GSE-backed securities 4.9 5.8 7.5 5.9 5.5 5.7 5.6 5.7 5.6 5.7 5.7 4

 5 Corporate and foreign bonds 3.0 3.7 5.0 3.6 3.2 3.4 3.4 3.5 3.3 3.4 3.5 5

 6 Corporate equities 128.5 124.0 138.3 195.0 208.2 210.2 216.0 215.6 197.8 210.2 208.0 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 0.0 0.0 1.2 0.0 0.0 0.0 60.9 127.6 199.9 0.0 0.0 7

 8 Pension entitlements (liabilities) 264.6 285.3 316.2 381.3 411.9 430.2 421.4 425.0 410.5 430.2 434.3 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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L.120 State and Local Government Employee Retirement Funds

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (1) 4776.3 4929.2 5122.8 5301.3 5452.2 5625.0 5500.5 5544.2 5567.5 5625.0 5667.4 1

 2 Checkable deposits and currency 3.9 4.1 3.8 4.1 4.6 5.0 4.9 5.0 4.9 5.0 5.2 2

 3 Time and savings deposits 33.1 35.3 32.5 34.8 39.5 43.2 41.7 42.9 41.7 43.2 44.3 3

 4 Money market fund shares 50.4 49.3 45.4 48.7 53.5 57.9 56.1 57.5 55.1 57.9 59.2 4

 5 Security repurchase agreements 3.2 3.3 3.1 3.3 3.7 4.1 3.9 4.0 3.9 4.1 4.2 5

 6 Debt securities 724.1 728.8 726.5 816.4 861.3 839.1 870.3 868.7 843.8 839.1 842.0 6

 7 Open market paper 36.4 38.5 35.4 37.9 43.0 47.1 45.4 46.7 45.4 47.1 48.2 7

 8 Treasury securities 153.7 160.7 172.8 188.2 176.8 163.6 172.7 169.1 162.2 163.6 160.5 8

 9 Agency- and GSE-backed securities 154.7 128.2 103.4 106.4 102.2 94.5 99.8 97.7 93.7 94.5 93.0 9

 10 Municipal securities 2.0 1.4 1.4 2.4 3.3 2.9 2.0 3.8 2.1 2.9 3.0 10

 11 Corporate and foreign bonds 377.3 399.9 413.4 481.7 535.9 531.1 550.4 551.3 540.3 531.1 537.2 11

 12 Loans (mortgages) 11.6 11.0 10.0 9.4 9.2 7.3 6.8 7.3 6.8 7.3 7.1 12

 13 Corporate equities 1728.8 1655.3 1811.4 2173.0 2282.7 2144.9 2315.5 2294.1 2100.7 2144.9 2112.5 13

 14 Mutual fund shares 469.5 387.0 407.1 505.3 516.5 486.0 522.8 513.7 471.0 486.0 485.9 14

 15 Miscellaneous assets 1751.8 2055.1 2083.1 1706.3 1681.1 2037.4 1678.5 1750.8 2039.6 2037.4 2107.2 15

 16 Unallocated insurance contracts (2) 159.9 149.9 149.8 150.7 144.9 146.4 146.8 147.3 143.0 146.4 146.4 16

 17 Claims of pension fund on sponsor (3) 1454.8 1764.6 1793.3 1401.4 1377.2 1728.4 1368.2 1440.5 1735.3 1728.4 1797.6 17

 18 Other 137.1 140.6 140.0 154.3 159.1 162.6 163.6 163.0 161.3 162.6 163.2 18

 19 Pension entitlements (liabilities) (4) 4882.8 5039.9 5246.9 5447.3 5611.6 5779.6 5662.5 5705.1 5720.8 5779.6 5823.3 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 4408.7 4604.1 4789.6 4950.6 5130.0 5307.9 5174.5 5219.0 5263.4 5307.9 5352.4 20

 21 Funded by assets (5) 2953.9 2839.5 2996.3 3549.3 3752.8 3579.5 3806.3 3778.5 3528.1 3579.5 3554.8 21

 22 Unfunded (line 17) 1454.8 1764.6 1793.3 1401.4 1377.2 1728.4 1368.2 1440.5 1735.3 1728.4 1797.6 22

 Total financial assets (6)

 23 Defined benefit plans 4302.2 4493.3 4665.5 4804.6 4970.6 5153.3 5012.4 5058.0 5110.2 5153.3 5196.5 23

 24 Defined contribution plans 474.1 435.8 457.3 496.7 481.6 471.6 488.1 486.2 457.3 471.6 470.9 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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L.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (1) 4302.2 4493.3 4665.5 4804.6 4970.6 5153.3 5012.4 5058.0 5110.2 5153.3 5196.5 1

 2 Checkable deposits and currency 3.9 4.1 3.8 4.1 4.6 5.0 4.9 5.0 4.9 5.0 5.2 2

 3 Time and savings deposits 33.1 35.3 32.5 34.8 39.5 43.2 41.7 42.9 41.7 43.2 44.3 3

 4 Money market fund shares 41.8 42.2 38.9 41.5 47.2 51.7 49.9 51.3 49.8 51.7 52.9 4

 5 Security repurchase agreements 3.2 3.3 3.1 3.3 3.7 4.1 3.9 4.0 3.9 4.1 4.2 5

 6 Debt securities 724.1 728.8 726.5 816.4 861.3 839.1 870.3 868.7 843.8 839.1 842.0 6

 7 Open market paper 36.4 38.5 35.4 37.9 43.0 47.1 45.4 46.7 45.4 47.1 48.2 7

 8 Treasury securities 153.7 160.7 172.8 188.2 176.8 163.6 172.7 169.1 162.2 163.6 160.5 8

 9 Agency- and GSE-backed securities 154.7 128.2 103.4 106.4 102.2 94.5 99.8 97.7 93.7 94.5 93.0 9

 10 Municipal securities 2.0 1.4 1.4 2.4 3.3 2.9 2.0 3.8 2.1 2.9 3.0 10

 11 Corporate and foreign bonds 377.3 399.9 413.4 481.7 535.9 531.1 550.4 551.3 540.3 531.1 537.2 11

 12 Loans (mortgages) 11.6 11.0 10.0 9.4 9.2 7.3 6.8 7.3 6.8 7.3 7.1 12

 13 Corporate equities 1728.8 1655.3 1811.4 2173.0 2282.7 2144.9 2315.5 2294.1 2100.7 2144.9 2112.5 13

 14 Mutual fund shares 203.9 150.1 150.5 215.6 238.6 222.0 240.9 235.0 215.9 222.0 223.0 14

 15 Miscellaneous assets 1551.9 1863.3 1888.8 1506.4 1483.8 1836.0 1478.6 1549.6 1842.7 1836.0 1905.5 15

 16 Claims of pension fund on sponsor (2) 1454.8 1764.6 1793.3 1401.4 1377.2 1728.4 1368.2 1440.5 1735.3 1728.4 1797.6 16

 17 Other 97.1 98.7 95.5 105.1 106.6 107.6 110.4 109.1 107.4 107.6 107.9 17

 18 Pension entitlements (liabilities) (3) 4408.7 4604.1 4789.6 4950.6 5130.0 5307.9 5174.5 5219.0 5263.4 5307.9 5352.4 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

L.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 Total financial assets 474.1 435.8 457.3 496.7 481.6 471.6 488.1 486.2 457.3 471.6 470.9 1

 2 Money market fund shares 8.5 7.1 6.5 7.1 6.3 6.3 6.2 6.3 5.3 6.3 6.3 2

 3 Mutual fund shares 265.6 236.9 256.6 289.7 277.9 263.9 281.9 278.7 255.1 263.9 262.9 3

 4 Miscellaneous assets 199.9 191.8 194.2 199.9 197.3 201.5 199.9 201.2 196.9 201.5 201.7 4

 5 Unallocated insurance contracts (misc. assets) (2) 159.9 149.9 149.8 150.7 144.9 146.4 146.8 147.3 143.0 146.4 146.4 5

 6 Other 40.1 41.9 44.4 49.2 52.5 55.0 53.2 53.9 53.9 55.0 55.3 6

 7 Pension entitlements (liabilities) 474.1 435.8 457.3 496.7 481.6 471.6 488.1 486.2 457.3 471.6 470.9 7

(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; amounts outstanding end of period, not seasonally adjusted

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2803.5 2691.0 2693.2 2717.8 2724.6 2754.7 2644.7 2615.1 2667.7 2754.7 2758.8 1

 2 Foreign deposits 108.0 43.8 44.1 34.3 24.5 11.1 20.5 22.5 12.6 11.1 17.6 2

 3 Checkable deposits and currency 14.5 20.5 16.8 13.5 -4.4 7.6 -10.0 3.3 1.7 7.6 7.3 3

 4 Time and savings deposits 468.1 411.0 443.5 503.0 523.4 445.0 524.0 517.8 485.0 445.0 493.0 4

 5 Security repurchase agreements 489.0 500.7 554.8 501.6 654.5 699.3 635.0 644.9 692.4 699.3 597.1 5

 6 Debt securities 1700.3 1692.1 1604.9 1633.8 1509.6 1581.9 1446.5 1411.2 1463.1 1581.9 1631.5 6

 7 Open market paper 402.1 361.5 347.2 357.9 338.6 298.8 347.0 341.7 338.0 298.8 333.4 7

 8 Treasury securities 342.1 452.6 466.3 496.1 419.0 482.9 429.1 404.3 391.4 482.9 545.5 8

 9 Agency- and GSE-backed securities 410.9 412.1 349.9 367.2 390.5 467.4 328.0 339.0 399.4 467.4 460.9 9

 10 Municipal securities 387.9 358.7 337.6 309.0 282.0 268.4 273.8 257.9 256.9 268.4 239.1 10

 11 Corporate and foreign bonds 157.3 107.3 104.0 103.7 79.5 64.4 68.6 68.3 77.4 64.4 52.7 11

 12 Miscellaneous assets 23.6 22.8 29.0 31.6 17.0 10.0 28.8 15.4 12.9 10.0 12.3 12

 13 Total shares outstanding (liabilities) 2803.5 2691.0 2693.2 2717.8 2724.6 2754.7 2644.7 2615.1 2667.7 2754.7 2758.8 13

 Memo:

 14 Variable annuity money market mutual funds included above 48.6 48.9 43.9 39.8 37.1 39.0 35.4 35.5 41.2 39.0 39.4 14

(1) Open-end investment companies including variable annuity money market mutual funds.

L.122 Mutual Funds (1)

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

 1 Total financial assets 9029.8 8941.4 10363.5 12333.0 13150.6 12897.2 13519.9 13533.6 12605.7 12897.2 12962.1 1

 2 Security repurchase agreements 40.6 55.6 61.9 84.2 94.1 81.7 92.8 88.6 82.9 81.7 85.4 2

 3 Debt securities 2916.5 3157.9 3741.4 3630.3 3834.5 3834.2 3932.4 3922.1 3881.2 3834.2 3972.3 3

 4 Open market paper 40.6 55.6 61.9 84.2 94.1 81.7 92.8 88.6 82.9 81.7 85.4 4

 5 Treasury securities 417.4 469.3 559.2 472.8 682.9 826.6 709.4 725.6 789.1 826.6 849.3 5

 6 Agency- and GSE-backed securities 743.8 833.0 950.1 873.6 689.8 584.9 707.9 674.6 627.0 584.9 601.0 6

 7 Municipal securities 490.4 519.2 608.9 529.6 586.6 603.7 598.9 591.0 593.2 603.7 628.4 7

 8 Corporate and foreign bonds 1224.4 1280.9 1561.3 1670.0 1781.2 1737.3 1823.3 1842.4 1789.0 1737.3 1808.1 8

 9 Loans (other loans and advances) 74.6 93.5 105.7 145.1 154.5 138.9 160.4 154.4 141.6 138.9 126.7 9

 10 Corporate equities 5872.7 5510.0 6297.4 8227.3 8799.2 8625.3 9061.6 9118.1 8282.6 8625.3 8584.3 10

 11 Miscellaneous assets 125.5 124.4 157.2 246.2 268.3 217.1 272.7 250.3 217.4 217.1 193.4 11

 12 Total shares outstanding (liabilities) 9029.8 8941.4 10363.5 12333.0 13150.6 12897.2 13519.9 13533.6 12605.7 12897.2 12962.1 12

 Memo:

 13 Variable annuity mutual funds included above 1291.4 1250.5 1400.4 1632.0 1673.9 1598.8 1702.4 1683.1 1556.0 1598.8 1586.2 13

 Total financial assets by investment objective:

 14 Domestic equity funds 4053.9 3855.4 4324.6 5726.9 6233.2 6045.9 6385.4 6343.0 5790.6 6045.9 5998.5 14

 15 World equity funds 1542.7 1357.6 1614.1 2035.9 2081.2 2102.4 2192.0 2258.4 2042.9 2102.4 2118.6 15

 16 Hybrid funds 842.2 884.0 1034.1 1285.0 1376.6 1336.6 1406.3 1413.4 1323.8 1336.6 1344.0 16

 17 Taxable bond funds 2117.1 2346.9 2810.5 2786.0 2893.2 2819.0 2956.7 2947.5 2872.9 2819.0 2885.3 17

 18 Municipal bonds funds 474.0 497.5 580.2 499.3 566.5 593.4 579.5 571.3 575.6 593.4 615.7 18

(1) Open-end investment companies including variable annuity mutual funds.
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L.123 Closed-End and Exchange-Traded Funds

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 Closed-end funds

 1 Total financial assets 243.1 240.5 256.6 283.6 284.9 260.2 283.9 282.5 263.6 260.2 255.9 1

 2 Debt securities 146.4 144.7 155.9 169.5 165.6 160.6 165.3 166.6 162.3 160.6 158.4 2

 3 Treasury securities 5.1 4.8 5.2 5.7 5.5 5.1 5.4 5.4 5.3 5.1 4.9 3

 4 Municipal securities 81.6 82.5 86.0 84.3 84.8 84.0 84.6 83.9 83.8 84.0 84.5 4

 5 Corporate and foreign bonds 59.7 57.3 64.8 79.4 75.3 71.5 75.2 77.2 73.3 71.5 69.0 5

 6 Corporate equities 96.7 95.9 100.6 114.2 119.3 99.6 118.6 115.9 101.3 99.6 97.5 6

 7 Total shares outstanding (liabilities) 243.1 240.5 256.6 283.6 284.9 260.2 283.9 282.5 263.6 260.2 255.9 7

 Exchange-traded funds

 8 Total financial assets 986.8 1042.6 1324.4 1670.6 1969.3 2105.7 2055.1 2080.3 1955.9 2105.7 2151.8 8

 9 Debt securities 132.7 178.8 231.1 243.3 294.3 349.3 313.6 315.5 337.0 349.3 380.8 9

 10 Treasury securities 51.0 62.4 63.6 57.1 70.1 84.2 73.2 73.7 88.4 84.2 94.3 10

 11 Municipal securities 7.6 8.6 12.3 11.4 14.6 18.5 16.0 16.6 17.1 18.5 20.3 11

 12 Corporate and foreign bonds 74.1 107.7 155.3 174.8 209.6 246.5 224.4 225.2 231.6 246.5 266.2 12

 13 Corporate equities 854.1 863.8 1093.3 1427.3 1675.0 1756.4 1741.5 1764.8 1618.9 1756.4 1771.0 13

 14 Total shares outstanding (liabilities) 986.8 1042.6 1324.4 1670.6 1969.3 2105.7 2055.1 2080.3 1955.9 2105.7 2151.8 14
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L.124 Government-Sponsored Enterprises (GSEs) (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 6722.4 6480.2 6275.1 6361.3 6399.9 6488.3 6353.5 6380.8 6407.3 6488.3 6458.1 1

 2 Checkable deposits and currency 63.4 72.7 52.6 81.6 65.0 41.0 53.4 41.1 47.4 41.0 34.7 2

 3 Time and savings deposits 26.1 13.4 4.3 5.4 3.3 2.5 1.9 2.8 2.7 2.5 3.3 3

 4 Federal funds and security repos 151.2 112.3 150.8 152.3 162.6 183.5 158.2 141.0 149.0 183.5 161.0 4

 5 Debt securities 760.9 722.3 585.7 491.1 472.1 446.9 465.7 448.7 442.7 446.9 443.8 5

 6 Open market paper 9.9 6.5 3.4 4.4 6.0 5.5 5.6 5.6 5.0 5.5 5.5 6

 7 Treasury securities 82.6 100.2 69.0 59.1 64.3 87.5 71.8 70.8 77.6 87.5 90.9 7

 8 Agency- and GSE-backed securities 377.0 358.9 310.6 287.9 295.7 281.4 292.6 285.8 281.4 281.4 282.7 8

 9 Municipal securities 24.9 21.0 17.0 13.4 10.8 8.2 9.9 9.1 8.7 8.2 7.5 9

 10 Corporate and foreign bonds 266.5 235.7 185.7 126.3 95.4 64.3 85.8 77.5 69.8 64.3 57.2 10

 11 Loans 5572.2 5411.1 5329.2 5465.3 5542.3 5666.3 5509.6 5580.9 5611.4 5666.3 5659.1 11

 12 Other loans and advances 551.3 487.0 505.7 587.5 671.8 746.2 641.6 694.7 696.5 746.2 730.1 12

 13 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Farm Credit System 87.3 83.8 92.1 95.0 106.1 115.0 105.0 106.6 110.3 115.0 116.3 14

 15 FHLB 464.0 403.3 413.6 492.6 565.7 631.2 536.6 588.2 586.2 631.2 613.8 15

 16 Mortgages 5021.0 4924.0 4823.5 4877.8 4870.5 4920.1 4868.0 4886.2 4914.8 4920.1 4929.0 16

 17 Home 4690.7 4587.7 4475.6 4546.4 4537.9 4568.7 4528.3 4540.2 4568.4 4568.7 4574.7 17

 18 Consolidated trusts (2) 4141.0 4032.1 3958.0 4087.7 4104.2 4171.8 4098.9 4120.5 4162.0 4171.8 4180.6 18

 19 Other 549.7 555.6 517.5 458.6 433.6 396.9 429.4 419.7 406.4 396.9 394.1 19

 20 Multifamily residential 256.5 259.2 265.5 243.5 240.8 256.9 247.1 252.8 252.8 256.9 259.1 20

 21 Consolidated trusts (2) 75.4 99.9 127.4 146.3 164.1 185.3 170.3 179.3 181.5 185.3 193.2 21

 22 Other 181.1 159.4 138.1 97.2 76.7 71.6 76.8 73.5 71.2 71.6 65.8 22

 23 Farm 73.8 77.1 82.5 87.9 91.8 94.5 92.6 93.2 93.7 94.5 95.2 23

 24 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Miscellaneous assets 148.6 148.5 152.6 165.6 154.7 148.2 164.7 166.3 154.2 148.2 156.1 25

 26 Total liabilities 6615.1 6377.9 6216.8 6314.9 6386.6 6475.4 6344.7 6362.9 6399.6 6475.4 6455.1 26

 27 Federal funds and security repos 1.3 0.4 0.0 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.0 27

 28 Debt securities (GSE issues) (4) 6434.5 6247.3 6092.7 6200.2 6275.5 6369.0 6234.6 6258.0 6293.5 6369.0 6350.1 28

 29 Consolidated trusts (2) 4216.4 4132.0 4085.4 4234.0 4268.3 4357.0 4269.2 4299.8 4343.5 4357.0 4373.9 29

 30 Other 2218.1 2115.4 2007.3 1966.2 2007.2 2012.0 1965.4 1958.2 1950.0 2012.0 1976.2 30

 31 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Miscellaneous liabilities 179.4 130.2 124.1 114.7 111.0 106.5 110.0 104.9 106.0 106.5 105.0 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 (L.125) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets (L.124).

(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; amounts outstanding end of period, not seasonally adjusted

 1 Total financial assets 1146.8 1311.9 1442.7 1573.5 1648.5 1775.5 1646.2 1677.2 1729.5 1775.5 1803.5 1

 2 Home mortgages 1075.0 1222.9 1326.6 1423.9 1474.8 1568.8 1468.9 1491.1 1536.5 1568.8 1587.7 2

 3 Multifamily residential mortgages 68.1 87.3 114.2 147.8 172.1 204.3 175.7 184.6 190.6 204.3 213.4 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 3.8 1.7 1.9 1.8 1.6 2.3 1.6 1.6 2.4 2.3 2.3 5

 6 Total pool securities (liabilities)(2) 1146.8 1311.9 1442.7 1573.5 1648.5 1775.5 1646.2 1677.2 1729.5 1775.5 1803.5 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 (L.125) are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (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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L.126 Issuers of Asset-Backed Securities (ABS)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2341.3 2068.0 1841.0 1513.3 1434.2 1355.3 1434.4 1422.6 1379.1 1355.3 1289.0 1

 2 Debt securites 42.4 28.9 23.0 21.8 27.3 28.2 28.0 29.0 28.7 28.2 27.2 2

 3 Treasury securities 38.8 28.6 22.7 21.7 27.2 28.2 27.9 28.9 28.6 28.2 27.2 3

 4 Agency- and GSE-backed securities (1) 3.6 0.3 0.3 0.1 0.1 0.0 0.1 0.1 0.1 0.0 0.0 4

 5 Loans 2168.8 1921.5 1707.2 1394.6 1305.2 1221.1 1302.9 1291.0 1251.4 1221.1 1155.2 5

 6 Other loans and advances 167.8 162.4 161.7 150.2 159.3 158.3 170.6 167.0 159.2 158.3 150.0 6

 7 Mortgages (2) 1950.6 1712.9 1495.5 1195.3 1096.0 1016.7 1084.1 1072.7 1044.1 1016.7 960.3 7

 8 Home 1303.0 1109.5 928.3 787.3 701.6 602.1 681.2 654.7 626.8 602.1 580.0 8

 9 Multifamily residential 102.9 91.0 79.6 70.8 68.4 62.3 68.8 66.2 63.5 62.3 56.5 9

 10 Commercial 544.7 512.5 487.6 337.1 326.1 352.4 334.1 351.9 353.8 352.4 323.8 10

 11 Consumer credit 50.3 46.2 50.0 49.1 49.8 46.0 48.2 51.2 48.0 46.0 44.8 11

 12 Trade credit 51.8 47.6 41.2 35.7 31.3 34.1 31.5 32.2 31.7 34.1 35.5 12

 13 Miscellaneous assets (funding agreements) (3) 78.4 70.0 69.6 61.1 70.4 72.0 71.9 70.4 67.4 72.0 71.1 13

 14 Total liabilities 2341.3 2068.0 1841.0 1513.3 1434.2 1355.3 1434.4 1422.6 1379.1 1355.3 1289.0 14

 15 Debt securities 2341.3 2068.0 1841.0 1513.3 1434.2 1355.3 1434.4 1422.6 1379.1 1355.3 1289.0 15

 16 Commercial paper 120.2 96.0 87.0 79.9 64.8 57.5 64.4 70.0 58.1 57.5 67.0 16

 17 Corporate bonds (net) (4) 2221.2 1971.9 1754.0 1433.4 1369.4 1297.8 1370.0 1352.6 1321.1 1297.8 1222.0 17

 Memo:

 Securitized assets not included above

 18 Consumer leases (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 REIT assets (6) 18.1 14.3 15.6 160.1 172.5 139.6 166.6 154.4 147.9 139.6 148.6 19

 Securitized liabilities not included above

 20 Commercial paper (7) 112.9 120.6 87.5 59.7 54.5 53.6 49.0 50.1 51.1 53.6 56.6 20

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Funding agreements with life insurance companies.

(4) Liabilities net of assets.

(5) 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.

(6) Included on table L.128.

(7) Included on table L.111 line 45.
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L.127 Finance Companies (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1588.5 1569.3 1493.7 1472.8 1501.4 1480.9 1502.6 1483.0 1482.0 1480.9 1458.5 1

 2 Checkable deposits and currency 26.5 31.7 27.8 32.1 31.9 32.5 32.4 33.2 34.1 32.5 36.4 2

 3 Time and savings deposits 79.6 95.0 83.5 96.2 95.7 97.5 97.1 99.7 102.2 97.5 109.3 3

 4 Debt securities (corporate and foreign bonds) 84.1 85.0 78.7 67.9 73.9 79.7 76.1 79.6 78.3 79.7 78.0 4

 5 Loans 1321.3 1274.6 1246.2 1237.5 1243.7 1225.8 1234.7 1232.3 1239.9 1225.8 1197.1 5

 6 Other loans and advances 372.7 375.8 387.0 401.3 411.5 425.1 412.3 416.3 422.8 425.1 410.3 6

 7 Mortgages 243.5 211.2 179.5 157.0 148.1 119.5 144.9 134.0 127.9 119.5 116.9 7

 8 Consumer credit 705.0 687.6 679.8 679.1 684.1 681.1 677.5 682.1 689.3 681.1 669.9 8

 9 U.S. direct investment abroad 206.0 221.8 226.3 227.7 226.8 229.9 226.8 230.2 232.5 229.9 231.3 9

 10 Miscellaneous assets -129.0 -138.7 -169.0 -188.6 -170.7 -184.5 -164.4 -192.0 -205.1 -184.5 -193.7 10

 11 Total liabilities 1558.7 1532.7 1445.6 1424.0 1438.1 1423.0 1450.3 1430.1 1431.7 1423.0 1395.8 11

 12 Debt securities 1188.3 1158.5 1084.5 1078.3 1080.3 1073.0 1090.0 1070.4 1077.5 1073.0 1065.9 12

 13 Open market paper 111.0 121.0 129.1 118.8 117.8 114.8 113.8 121.0 122.2 114.8 113.4 13

 14 Corporate bonds 1077.3 1037.5 955.3 959.5 962.6 958.2 976.2 949.4 955.3 958.2 952.5 14

 15 Loans 92.4 103.3 120.7 131.0 141.2 156.5 144.3 151.7 153.2 156.5 156.1 15

 16 Depository institution loans n.e.c. 91.5 102.1 118.5 128.6 139.1 152.9 142.2 149.6 150.4 152.9 152.4 16

 17 Other loans and advances 0.9 1.3 2.1 2.3 2.1 3.7 2.1 2.1 2.9 3.7 3.7 17

 18 Taxes payable 6.0 6.7 6.7 6.8 7.8 8.3 8.2 8.4 8.5 8.3 8.1 18

 19 Foreign direct investment in U.S. 114.7 91.1 88.7 73.4 72.7 43.1 72.7 72.6 65.5 43.1 43.9 19

 20 Miscellaneous liabilities 157.3 173.0 145.1 134.5 136.1 142.0 135.2 127.0 127.0 142.0 121.9 20

 21 Investment by parent 175.7 163.7 162.8 161.8 162.7 156.1 159.6 153.1 152.5 156.1 146.7 21

 22 Other -18.4 9.3 -17.7 -27.2 -26.6 -14.1 -24.5 -26.2 -25.5 -14.1 -24.9 22

 Memo:

 23 Consumer leases not included above (2) 111.8 119.7 144.0 167.3 188.9 212.5 193.3 199.2 206.9 212.5 217.7 23

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (5), table L.126.
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L.128 Real Estate Investment Trusts (REITs) (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 302.4 433.4 594.2 662.6 724.7 656.3 721.1 702.0 690.8 656.3 673.6 1

 2 Checkable deposits and currency 25.1 27.6 35.3 34.3 38.5 35.6 38.6 34.7 38.8 35.6 37.3 2

 3 Debt securities 166.6 275.1 394.1 304.4 312.0 266.2 308.3 287.7 279.7 266.2 265.5 3

 4 Agency- and GSE-backed securities 143.4 248.1 357.6 269.3 277.8 227.8 269.4 248.4 241.0 227.8 227.4 4

 5 Corporate and foreign bonds 23.2 27.0 36.5 35.1 34.2 38.3 38.9 39.3 38.7 38.3 38.1 5

 6 Loans (mortgages) 44.6 56.1 64.5 214.7 247.3 216.0 240.7 241.7 230.4 216.0 226.6 6

 7 Home 9.0 19.8 26.5 31.3 44.0 46.1 43.0 49.2 49.3 46.1 47.6 7

 8 Multifamily residential 2.0 1.7 1.9 4.1 5.1 4.6 4.7 4.6 4.6 4.6 4.7 8

 9 Commercial 33.7 34.6 36.1 179.3 198.2 165.3 193.1 187.9 176.5 165.3 174.3 9

 10 Miscellaneous assets 66.1 74.7 100.4 109.2 126.9 138.7 133.5 137.9 141.9 138.7 144.2 10

 11 Total liabilities 523.9 654.4 817.8 926.2 1021.5 992.5 1026.8 1024.5 1026.1 992.5 1010.0 11

 12 Security repurchase agreements 120.4 218.1 320.6 255.5 265.5 222.2 262.3 249.0 231.4 222.2 220.3 12

 13 Debt securities 145.4 152.9 179.4 355.5 403.3 391.1 403.5 401.3 395.9 391.1 412.5 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 145.4 152.9 179.4 355.5 403.3 391.1 403.5 401.3 395.9 391.1 412.5 15

 16 Loans 194.5 212.6 221.6 241.1 270.4 299.0 279.7 291.2 305.5 299.0 291.5 16

 17 Depository institution loans n.e.c. 18.4 23.0 27.0 25.9 33.1 40.3 37.0 42.7 44.4 40.3 38.8 17

 18 Other loans and advances 0.0 0.0 0.3 1.0 5.9 23.8 7.2 9.7 18.9 23.8 19.7 18

 19 Mortgages 176.1 189.5 194.4 214.3 231.4 234.9 235.5 238.8 242.3 234.9 232.9 19

 20 Miscellaneous liabilities 63.7 70.8 96.3 74.1 82.3 80.2 81.3 82.9 93.3 80.2 85.7 20

 Memo:

 21 Securitized assets included above 18.1 14.3 15.6 160.1 172.5 139.6 166.6 154.4 147.9 139.6 148.6 21

 22 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Home mortgages 7.2 6.5 10.2 19.9 23.1 30.8 23.8 26.6 31.0 30.8 29.9 23

 24 Multifamily residential mortgages 0.4 0.3 0.3 3.0 3.3 2.8 2.8 2.7 2.8 2.8 2.8 24

 25 Commercial mortgages 10.6 7.5 5.2 137.3 146.2 106.0 140.0 125.2 114.1 106.0 115.8 25

(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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L.128.e Equity Real Estate Investment Trusts

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 94.3 102.3 116.4 136.8 157.2 163.5 164.8 162.9 169.4 163.5 167.5 1

 2 Checkable deposits and currency 19.3 17.0 21.1 23.4 26.3 24.0 25.8 22.6 25.4 24.0 24.4 2

 3 Debt securities (corporate and foreign bonds) 5.4 4.8 4.6 4.8 5.2 4.2 6.0 4.8 4.5 4.2 4.0 3

 4 Loans (mortgages) 15.9 18.8 20.4 22.8 25.4 25.5 25.5 25.9 26.4 25.5 24.3 4

 5 Home 0.1 0.2 0.2 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.2 5

 6 Multifamily residential 0.3 0.3 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.4 6

 7 Commercial 15.5 18.3 19.9 22.3 24.9 24.9 25.0 25.4 25.9 24.9 23.7 7

 8 Miscellaneous assets 53.7 61.8 70.3 85.9 100.2 109.8 107.5 109.6 113.1 109.8 114.7 8

 9 Total liabilities 346.8 384.1 422.6 478.8 538.7 582.8 554.7 573.3 591.0 582.8 585.2 9

 10 Debt securities (corporate bonds) 108.4 121.6 149.2 183.2 212.5 242.6 219.7 227.9 237.6 242.6 248.1 10

 11 Loans 192.5 212.0 218.3 238.0 261.4 271.9 269.7 278.0 283.2 271.9 269.1 11

 12 Depository institution loans n.e.c. 16.4 22.5 23.9 23.8 30.0 37.0 34.2 39.2 40.9 37.0 36.2 12

 13 Mortgages 176.1 189.5 194.4 214.3 231.4 234.9 235.5 238.8 242.3 234.9 232.9 13

 14 Multifamily residential 27.8 27.9 26.7 29.7 31.1 30.2 31.8 32.6 31.6 30.2 30.2 14

 15 Commercial 148.3 161.7 167.7 184.6 200.4 204.7 203.7 206.2 210.7 204.7 202.7 15

 16 Miscellaneous liabilities 45.9 50.5 55.1 57.6 64.8 68.3 65.3 67.3 70.2 68.3 68.0 16

L.128.m Mortgage Real Estate Investment Trusts

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

 1 Total financial assets 208.1 331.1 477.8 525.8 567.5 492.8 556.3 539.1 521.4 492.8 506.1 1

 2 Checkable deposits and currency 5.8 10.7 14.2 10.9 12.2 11.5 12.8 12.1 13.4 11.5 12.9 2

 3 Debt securities 161.2 270.3 389.5 299.6 306.8 262.0 302.4 282.9 275.2 262.0 261.5 3

 4 Agency- and GSE-backed securities 143.4 248.1 357.6 269.3 277.8 227.8 269.4 248.4 241.0 227.8 227.4 4

 5 Corporate and foreign bonds 17.8 22.2 31.9 30.3 29.0 34.1 33.0 34.5 34.2 34.1 34.1 5

 6 Loans (mortgages) 28.7 37.3 44.1 191.9 221.9 190.5 215.2 215.8 204.0 190.5 202.3 6

 7 Home 8.8 19.6 26.3 31.1 43.8 45.9 42.7 49.0 49.1 45.9 47.4 7

 8 Multifamily residential 1.6 1.4 1.5 3.8 4.8 4.2 4.4 4.3 4.3 4.2 4.3 8

 9 Commercial 18.2 16.3 16.3 157.0 173.2 140.4 168.1 162.5 150.6 140.4 150.6 9

 10 Miscellaneous assets 12.5 12.8 30.1 23.3 26.7 28.8 25.9 28.2 28.8 28.8 29.5 10

 11 Total liabilities 177.2 270.3 395.2 447.4 482.8 409.7 472.1 451.2 435.2 409.7 424.8 11

 12 Security repurchase agreements 120.4 218.1 320.6 255.5 265.5 222.2 262.3 249.0 231.4 222.2 220.3 12

 13 Debt securities 37.0 31.3 30.1 172.2 190.8 148.5 183.8 173.4 158.4 148.5 164.4 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 37.0 31.3 30.1 172.2 190.8 148.5 183.8 173.4 158.4 148.5 164.4 15

 16 Loans 2.0 0.5 3.3 3.1 9.0 27.1 10.0 13.2 22.3 27.1 22.4 16

 17 Depository institution loans n.e.c. 2.0 0.5 3.1 2.1 3.1 3.3 2.8 3.5 3.4 3.3 2.6 17

 18 Other loans and advances 0.0 0.0 0.3 1.0 5.9 23.8 7.2 9.7 18.9 23.8 19.7 18

 19 Miscellaneous liabilities 17.8 20.3 41.2 16.5 17.5 11.9 16.0 15.5 23.1 11.9 17.7 19

 Memo:

 20 Securitized assets included above 18.1 14.3 15.6 160.1 172.5 139.6 166.6 154.4 147.9 139.6 148.6 20

 21 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Home mortgages 7.2 6.5 10.2 19.9 23.1 30.8 23.8 26.6 31.0 30.8 29.9 22

 23 Multifamily residential mortgages 0.4 0.3 0.3 3.0 3.3 2.8 2.8 2.7 2.8 2.8 2.8 23

 24 Commercial mortgages 10.6 7.5 5.2 137.3 146.2 106.0 140.0 125.2 114.1 106.0 115.8 24
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L.129 Security Brokers and Dealers

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3503.6 3532.8 3706.5 3408.4 3254.7 3044.0 3236.5 3194.6 3200.6 3044.0 3050.7 1

 2 Checkable deposits and currency 96.9 111.8 128.2 111.7 111.8 106.1 117.7 114.1 115.6 106.1 110.9 2

 3 Security repurchase agreements 1428.5 1583.1 1638.2 1321.0 1152.7 1133.3 1138.8 1171.2 1243.6 1133.3 1115.3 3

 4 Debt securities 510.1 508.9 612.7 426.4 337.3 300.6 344.8 318.9 308.1 300.6 299.1 4

 5 Open market paper 36.2 42.1 29.9 28.7 20.8 19.5 21.7 19.6 19.5 19.5 20.3 5

 6 Treasury securities 94.5 183.6 246.5 136.0 60.2 65.3 63.7 43.6 53.6 65.3 90.8 6

 7 Agency- and GSE-backed securities 149.8 147.7 169.6 114.2 121.9 109.7 124.3 125.5 122.8 109.7 102.6 7

 8 Municipal securities 40.0 30.9 26.6 18.6 18.9 14.0 20.6 19.0 15.9 14.0 18.8 8

 9 Corporate and foreign bonds 189.5 104.5 140.0 128.9 115.5 92.1 114.5 111.2 96.4 92.1 66.7 9

 10 Loans (other loans and advances) 325.6 293.2 343.3 389.6 428.2 338.1 407.0 415.6 341.3 338.1 318.4 10

 11 Corporate equities 117.2 103.2 126.7 172.4 187.8 166.8 162.9 164.2 143.3 166.8 136.8 11

 12 U.S. direct investment abroad 239.3 201.7 212.3 218.9 224.6 233.4 226.0 230.9 233.0 233.4 235.1 12

 13 Miscellaneous assets 786.0 730.9 645.1 768.3 812.4 765.8 839.4 779.8 815.8 765.8 835.1 13

 14 Total liabilities 3404.3 3460.5 3621.3 3333.6 3178.1 3011.3 3161.4 3124.5 3133.1 3011.3 3020.4 14

 15 Security repurchase agreements 2006.3 2076.7 2207.9 1768.6 1547.7 1368.3 1535.3 1480.3 1493.7 1368.3 1366.1 15

 16 Debt securities (corporate bonds) 129.7 91.8 90.2 112.4 123.9 131.3 107.4 135.8 135.4 131.3 119.5 16

 17 Loans 763.5 795.4 828.2 897.1 962.5 913.2 964.4 939.0 934.9 913.2 952.3 17

 18 Depository institution loans n.e.c. (1) 38.2 69.2 71.1 81.6 93.5 92.5 93.9 95.4 90.2 92.5 91.7 18

 19 Other loans and advances 725.2 726.1 757.0 815.5 869.0 820.6 870.5 843.6 844.6 820.6 860.6 19

 20 Trade payables 18.1 14.3 14.2 14.5 17.9 26.3 19.2 23.6 24.2 26.3 25.3 20

 21 Taxes payable 3.6 2.5 3.1 3.7 4.0 3.2 4.9 4.2 4.1 3.2 4.1 21

 22 Foreign direct investment in U.S. 88.5 104.6 110.4 128.6 133.2 178.2 135.0 139.8 147.4 178.2 183.1 22

 23 Miscellaneous liabilities 394.6 375.1 367.4 408.7 388.8 390.8 395.3 401.7 393.4 390.8 370.0 23

 24 Investment by parent companies 1122.9 1163.3 1629.2 1671.8 1699.7 1663.1 1708.4 1749.5 1767.8 1663.1 1714.7 24

 25 Other -728.3 -788.1 -1261.8 -1263.1 -1310.9 -1272.3 -1313.1 -1347.7 -1374.4 -1272.3 -1344.6 25

(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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L.130 Holding Companies (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3354.8 3423.6 4330.1 4299.6 4390.8 3955.9 4360.3 4398.2 4349.4 3955.9 4015.0 1

 2 Time and savings deposits 10.0 12.4 34.4 35.9 27.0 19.1 33.8 36.0 26.9 19.1 19.6 2

 3 Security repurchase agreements 50.3 50.5 10.5 7.7 2.5 2.1 5.8 7.6 4.0 2.1 3.0 3

 4 Debt securities 79.0 78.2 103.8 76.1 76.0 55.3 70.5 70.9 75.4 55.3 52.9 4

 5 Treasury securities 19.6 26.8 8.2 16.6 13.9 10.2 10.2 8.9 12.9 10.2 10.0 5

 6 Agency- and GSE-backed securities 21.1 33.1 22.9 28.0 28.0 23.7 31.0 29.6 30.3 23.7 21.7 6

 7 Corporate and foreign bonds 38.3 18.3 72.7 31.5 34.1 21.5 29.2 32.4 32.1 21.5 21.1 7

 8 Loans (other loans and advances) 18.9 22.9 105.3 75.7 64.8 24.0 62.3 55.1 37.7 24.0 23.2 8

 9 Life insurance reserves 25.1 27.6 34.9 39.9 45.0 49.0 46.0 47.0 48.0 49.0 50.0 9

 10 Miscellaneous assets 3171.5 3232.1 4041.2 4064.3 4175.5 3806.4 4141.9 4181.6 4157.5 3806.4 3866.4 10

 11 Net trans. with depository subs. 1632.8 1709.0 1889.2 1937.2 2133.2 2171.3 2112.8 2141.6 2160.8 2171.3 2208.0 11

 12 Net trans. with property-casualty ins. co. subs. 0.0 0.0 11.2 5.2 5.3 4.5 3.9 4.6 4.8 4.5 4.0 12

 13 Net trans. with life insurance company subs. 62.7 72.0 17.2 10.7 11.5 12.0 11.8 11.8 12.1 12.0 12.9 13

 14 Net trans. with finance company subs. 115.0 94.6 91.1 75.4 62.2 59.7 61.1 58.6 58.3 59.7 56.1 14

 15 Net trans. with broker and dealer subs. 626.6 613.5 1060.5 1087.6 1092.4 1019.6 1075.6 1130.8 1135.2 1019.6 1041.6 15

 16 Net trans. with foreign subs. 135.6 166.3 114.7 97.9 83.3 89.2 92.0 80.3 93.2 89.2 91.3 16

 17 Other 598.9 576.7 857.2 850.3 787.6 450.1 784.8 753.9 693.1 450.1 452.5 17

 18 Total liabilities 1762.7 1706.4 2238.7 2142.1 2102.6 1621.8 2079.5 2066.3 1990.1 1621.8 1649.6 18

 19 Security repurchase agreements 0.8 1.2 0.0 0.0 0.0 0.1 0.0 0.1 0.1 0.1 0.1 19

 20 Debt securities 1046.9 966.5 1219.6 1192.1 1200.1 1057.2 1188.8 1192.6 1181.5 1057.2 1087.1 20

 21 Commercial paper 64.7 75.9 116.4 96.6 77.0 5.7 70.0 56.3 16.0 5.7 5.6 21

 22 Corporate bonds 982.2 890.6 1103.2 1095.6 1123.2 1051.6 1118.8 1136.3 1165.5 1051.6 1081.5 22

 23 Loans (depository institution loans n.e.c.) 190.3 254.3 196.8 210.6 194.2 155.6 191.8 187.6 178.8 155.6 160.3 23

 24 Miscellaneous liabilities 524.6 484.4 822.3 739.4 708.2 408.9 699.0 686.0 629.6 408.9 402.2 24

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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L.131 Funding Corporations (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1635.0 1441.1 1354.6 1285.0 1297.3 1434.7 1355.8 1378.2 1442.7 1434.7 1569.3 1

 2 Money market fund shares 604.1 520.7 458.3 396.8 410.3 437.7 445.0 428.1 440.0 437.7 464.4 2

 3 Security repurchase agreements 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities 315.1 213.3 188.4 169.8 164.3 235.2 170.1 210.1 248.6 235.2 287.1 4

 5 Open market paper 151.6 105.8 124.1 100.1 89.9 162.1 92.2 137.4 171.5 162.1 206.2 5

 6 Corporate and foreign bonds 163.4 107.5 64.4 69.7 74.4 73.0 77.9 72.7 77.1 73.0 80.9 6

 7 Loans (other loans and advances) 21.4 19.4 12.9 10.6 12.1 12.9 11.6 12.2 13.1 12.9 17.6 7

 8 Corporate equities (2) 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 667.9 687.6 694.8 707.8 710.6 748.9 729.1 727.8 741.0 748.9 800.2 9

 10 Investment in foreign banking offices 171.6 137.8 126.0 123.5 103.2 105.4 96.2 109.1 108.4 105.4 127.1 10

 11 Investment in brokers and dealers 496.4 549.7 568.8 584.3 607.4 643.5 632.9 618.7 632.6 643.5 673.1 11

 12 Total liabilities 1635.0 1441.1 1354.6 1285.0 1297.3 1434.7 1355.8 1378.2 1442.7 1434.7 1569.3 12

 13 Debt securities 621.7 620.5 590.5 618.2 644.0 710.0 671.3 674.5 703.8 710.0 767.4 13

 14 Open market paper 167.1 94.3 29.0 45.2 48.9 88.6 51.3 74.5 94.9 88.6 125.8 14

 15 Corporate bonds 454.6 526.2 561.5 572.9 595.1 621.4 620.0 600.1 608.9 621.4 641.7 15

 16 Loans 82.5 31.3 3.0 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 16

 17 Depository institution loans n.e.c. (3) 73.4 21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other loans and advances (4) 9.2 9.8 3.0 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 18

 19 Foreign direct investment in U.S. 11.4 12.0 12.6 13.2 13.8 14.4 14.0 14.1 14.3 14.4 14.6 19

 20 Miscellaneous liabilities 919.4 777.3 748.4 651.3 637.1 708.0 668.2 687.2 722.3 708.0 784.9 20

 21 Securities loaned (net) 733.4 658.7 579.5 673.5 720.6 706.8 755.4 703.1 747.5 706.8 785.7 21

 22 Equity interest under PPIP 7.7 10.4 3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other (net) 178.4 108.1 165.3 -22.3 -83.6 1.2 -87.2 -15.9 -25.2 1.2 -0.8 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) and to funds associated with PPIP.
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L.132 Rest of the World

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 16054.1 17513.0 18962.6 21136.5 22983.9 22800.4 23274.1 23330.6 22764.7 22800.4 23104.3 1

 2 SDR allocations 54.4 54.2 54.3 54.4 51.2 48.9 48.7 49.7 49.6 48.9 49.8 2

 3 Net interbank assets 24.2 238.1 102.1 414.2 445.2 354.9 442.4 412.5 394.1 354.9 305.5 3

 4 U.S. checkable deposits and currency 390.5 472.3 540.4 591.3 674.1 705.1 690.8 687.9 693.0 705.1 725.0 4

 5 U.S. time deposits 308.2 355.6 393.4 445.1 499.1 475.9 506.1 491.2 473.9 475.9 505.9 5

 6 Money market fund shares 69.8 74.4 96.9 108.2 113.2 114.5 109.9 108.7 110.9 114.5 114.7 6

 7 Security repurchase agreements 581.8 678.5 671.6 706.9 812.3 669.8 799.4 731.0 751.5 669.8 718.3 7

 8 Debt securities 8251.6 8748.7 9364.8 9588.1 10146.9 10296.3 10257.4 10362.0 10297.6 10296.3 10491.0 8

 9 Open market paper 102.1 102.7 102.8 101.3 107.9 104.1 118.4 113.0 100.8 104.1 98.7 9

 10 Treasury securities 4458.8 5004.4 5571.5 5793.8 6156.2 6148.0 6176.0 6174.9 6106.3 6148.0 6284.8 10

 11 Treasury bills 710.3 647.7 661.7 685.0 671.6 724.6 702.0 700.6 667.1 724.6 724.9 11

 12 Other Treasury securities 3748.5 4356.7 4909.8 5108.9 5484.5 5423.4 5474.0 5474.4 5439.2 5423.4 5559.9 12

 13 Agency- and GSE-backed securities 1095.8 1078.2 1001.2 883.8 902.6 913.5 898.3 934.7 939.1 913.5 943.5 13

 14 Municipal securities 71.7 72.4 71.8 76.1 80.4 87.2 82.5 85.4 86.0 87.2 89.2 14

 15 U.S. corporate bonds (1) 2523.1 2491.0 2617.6 2733.1 2899.7 3043.5 2982.3 3053.9 3065.4 3043.5 3074.8 15

 16 Loans to U.S. corporate business 162.3 196.1 143.9 139.7 170.6 193.9 178.0 188.8 195.2 193.9 201.4 16

 17 U.S. corporate equities 3213.5 3397.2 3953.0 5204.4 5944.2 5569.7 5971.1 5917.6 5449.6 5569.7 5564.4 17

 18 Mutual fund shares 262.5 370.4 495.4 552.0 607.8 586.5 646.0 662.5 595.0 586.5 592.0 18

 19 Trade receivables 111.8 128.8 140.5 148.8 162.9 176.9 164.9 169.8 176.9 176.9 177.1 19

 20 Foreign direct investment in U.S. (2) 2623.6 2798.7 3006.3 3183.2 3356.5 3607.8 3459.4 3549.2 3577.4 3607.8 3659.1 20

 21 Total liabilities 8862.5 9431.5 9954.6 10311.3 10584.8 10467.2 10718.2 10648.7 10628.1 10467.2 10632.2 21

 22 U.S. official reserve assets (3) 121.1 136.7 138.9 133.4 118.9 106.4 108.1 109.2 109.0 106.4 108.6 22

 23 U.S. private deposits 1303.9 1066.4 919.4 944.8 821.1 588.3 797.2 728.0 661.7 588.3 520.7 23

 24 Security repurchase agreements 663.7 764.7 804.9 720.9 747.3 793.9 800.1 782.4 866.7 793.9 860.1 24

 25 Debt securities 2076.3 2258.7 2566.1 2649.9 2785.8 2699.7 2847.0 2841.0 2765.1 2699.7 2778.3 25

 26 Commercial paper 398.6 345.1 373.0 407.0 385.6 444.8 415.9 429.4 447.8 444.8 467.3 26

 27 Bonds 1677.6 1913.6 2193.1 2242.9 2400.2 2254.9 2431.0 2411.6 2317.3 2254.9 2311.0 27

 28 Loans 181.6 226.2 267.9 308.3 339.8 363.5 350.5 362.2 361.5 363.5 364.8 28

 29 Depository institution loans n.e.c. 162.0 205.2 237.7 276.7 305.3 328.0 315.5 326.6 325.1 328.0 329.4 29

 30 Other loans and advances 19.6 21.0 30.2 31.6 34.5 35.5 35.0 35.7 36.5 35.5 35.4 30

 31 Trade payables 51.1 55.1 55.7 53.4 46.2 45.1 44.0 44.7 45.7 45.1 47.7 31

 32 U.S. direct investment abroad (1,2) 4273.6 4599.5 5017.5 5339.8 5576.0 5712.7 5611.3 5633.3 5657.1 5712.7 5793.5 32

 33 Miscellaneous liabilities 191.2 324.1 184.1 160.8 149.8 157.4 160.0 148.1 161.1 157.4 158.6 33

 34 U.S. equity in IBRD, etc. 52.8 55.4 57.8 60.0 62.4 64.6 64.6 64.6 64.6 64.6 64.6 34

 35 Nonofficial foreign currencies 2.7 102.5 11.5 2.9 4.2 3.6 3.4 3.3 3.3 3.6 2.8 35

 36 Investment by holding companies 135.6 166.3 114.7 97.9 83.3 89.2 92.0 80.3 93.2 89.2 91.3 36

 Memo:

 37 Market value of foreign equities 4900.2 4501.4 5321.9 6472.9 6719.7 6753.2 7118.0 7285.9 6537.7 6753.2 6733.8 37

 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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L.200 U.S. Official Reserve Assets and SDR Allocations (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 175.5 190.9 193.2 187.7 170.0 155.4 156.8 158.8 158.6 155.4 158.3 1

 2 Federal government: SDR allocations 54.4 54.2 54.3 54.4 51.2 48.9 48.7 49.7 49.6 48.9 49.8 2

 3 Rest of the world 121.1 136.7 138.9 133.4 118.9 106.4 108.1 109.2 109.0 106.4 108.6 3

 4 SDR holdings 56.8 55.0 55.1 55.2 51.9 49.7 49.5 50.4 50.3 49.7 50.5 4

 5 Reserve position in IMF 12.5 30.1 34.2 30.8 25.2 17.6 19.8 19.2 18.9 17.6 16.7 5

 6 Other reserves 51.8 51.6 49.7 47.4 41.8 39.1 38.8 39.5 39.8 39.1 41.4 6

 7 Total assets 186.6 201.9 204.3 198.8 181.1 166.4 167.8 169.9 169.7 166.4 169.3 7

 8 Federal government 95.1 110.9 114.2 109.8 98.0 86.9 88.7 89.5 89.2 86.9 88.0 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings 56.8 55.0 55.1 55.2 51.9 49.7 49.5 50.4 50.3 49.7 50.5 10

 11 Reserve position in IMF 12.6 30.3 34.4 31.0 25.3 17.7 19.9 19.4 19.0 17.7 16.9 11

 12 Other reserves 25.7 25.6 24.7 23.6 20.7 19.5 19.3 19.7 19.8 19.5 20.5 12

 13 Rest of the world: SDR allocations 54.4 54.2 54.3 54.4 51.2 48.9 48.7 49.7 49.6 48.9 49.8 13

 14 Monetary authority 37.0 36.8 35.8 34.6 32.0 30.5 30.4 30.7 30.9 30.5 31.6 14

 15 Monetary gold (2) 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

 16 Reserve position in IMF -0.1 -0.3 -0.2 -0.2 -0.1 -0.1 -0.2 -0.1 -0.1 -0.1 -0.3 16

 17 Other reserves 26.1 26.0 25.0 23.8 21.1 19.6 19.5 19.8 20.0 19.6 20.9 17

 18 Discrepancy: monetary gold -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

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

 SDR certificates:

 1 Liab: Federal government 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 1

 2 Asset: Monetary authority 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 2

 Treasury currency:

 3 Liab: Federal government 25.9 25.9 25.9 25.6 25.3 25.3 25.3 25.3 25.3 25.3 25.3 3

 4 Asset: Monetary authority 43.5 44.2 44.8 45.5 46.3 47.6 46.7 47.0 47.3 47.6 47.7 4

 5 Discrepancy (seigniorage) -17.6 -18.3 -18.8 -19.9 -21.0 -22.2 -21.3 -21.7 -22.0 -22.2 -22.4 5

L.202 U.S. Deposits in Foreign Countries

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

 1 Total rest of the world liability 1303.9 1066.4 919.4 944.8 821.1 588.3 797.2 728.0 661.7 588.3 520.7 1

 Held by:

 2 Household sector 67.3 57.4 49.5 51.7 45.3 30.5 43.8 39.1 35.1 30.5 25.3 2

 3 Nonfinancial corporate business 40.6 34.8 35.4 77.5 68.7 49.0 51.3 56.5 48.3 49.0 48.2 3

 4 Money market mutual funds 108.0 43.8 44.1 34.3 24.5 11.1 20.5 22.5 12.6 11.1 17.6 4

 5 Discrepancy--unallocated assets 1088.0 930.4 790.4 781.3 682.6 497.8 681.7 609.9 565.8 497.8 429.6 5
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L.203 Net Interbank Transactions

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 1068.5 1889.0 1683.8 2812.9 2865.6 2364.2 2911.0 2675.4 2619.9 2364.2 2444.4 1

 2 Monetary authority 1020.8 1623.1 1562.1 2322.7 2453.7 2051.4 2505.1 2310.7 2265.3 2051.4 2195.2 2

 3 U.S.-chartered depository institutions 428.3 164.9 36.7 227.8 282.3 229.3 306.8 204.2 164.7 229.3 184.0 3

 4 Foreign banking offices in U.S. -347.1 157.5 155.6 330.6 197.7 149.1 166.9 229.6 257.0 149.1 134.8 4

 5 Banks in U.S.-affiliated areas -3.3 -4.6 -4.9 -4.7 -5.3 -5.1 -5.7 -6.2 -5.4 -5.1 -5.8 5

 6 Credit unions -30.0 -51.9 -65.7 -63.5 -62.8 -60.5 -62.0 -62.9 -61.7 -60.5 -63.8 6

 7 Total assets 1043.8 1860.7 1663.8 2736.0 2898.4 2406.4 2946.7 2723.0 2659.6 2406.4 2499.6 7

 8 Monetary authority -1.2 -0.4 -0.4 -0.9 -0.4 0.1 -0.7 -0.2 0.2 0.1 -1.1 8

 9 U.S.-chartered depository institutions 628.5 859.5 869.6 1326.5 1519.2 1309.9 1573.2 1374.1 1346.4 1309.9 1381.6 9

 10 Foreign banking offices in U.S. 350.8 711.0 638.8 948.1 888.8 690.4 872.3 886.7 871.2 690.4 749.2 10

 11 Credit unions 41.5 52.6 53.8 48.1 45.7 51.2 59.6 49.9 47.7 51.2 64.3 11

 12 Rest of the world 24.2 238.1 102.1 414.2 445.2 354.9 442.4 412.5 394.1 354.9 305.5 12

 13 Discrepancy 24.8 28.3 20.1 76.9 -32.8 -42.2 -35.7 -47.6 -39.7 -42.2 -55.2 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 52.7 60.8 71.1 73.6 75.7 74.2 67.8 68.3 67.6 74.2 69.8 14

 15 Asset: U.S.-chartered depository institutions 52.7 60.8 71.1 73.6 75.6 74.2 67.8 68.3 67.6 74.2 69.8 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority 968.1 1562.3 1491.0 2249.1 2378.0 1977.2 2437.3 2242.5 2197.7 1977.2 2125.4 17

 18 Asset: U.S.-chartered depository institutions 575.8 798.7 798.5 1252.9 1443.6 1235.6 1505.4 1305.8 1278.8 1235.6 1311.8 18

 19 Foreign banking offices in U.S. 350.8 711.0 638.8 948.0 888.8 690.3 872.3 886.7 871.1 690.3 749.2 19

 20 Credit unions 41.5 52.6 53.8 48.1 45.7 51.2 59.6 49.9 47.7 51.2 64.3 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions -1.2 -0.4 -0.4 -0.9 -0.4 0.1 -0.7 -0.2 0.2 0.1 -1.1 21

 22 Asset: Monetary authority -1.2 -0.4 -0.4 -0.9 -0.4 0.1 -0.7 -0.2 0.2 0.1 -1.1 22

 23 Federal Reserve float -1.4 -0.6 -0.5 -1.0 -0.6 -0.0 -0.7 -0.4 -0.1 -0.0 -1.2 23

 24 Loans to member banks 0.2 0.2 0.1 0.1 0.1 0.1 0.0 0.2 0.3 0.1 0.1 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) 420.1 110.9 23.0 176.5 278.8 239.0 311.7 216.5 171.1 239.0 205.6 25

 26 Due to foreign affiliates 824.8 602.6 403.6 507.3 523.4 497.4 535.1 472.8 438.0 497.4 462.5 26

 27 - Due from foreign affiliates 404.6 491.7 380.6 330.8 244.6 258.4 223.4 256.2 266.9 258.4 256.9 27

 28 Foreign banking offices in U.S. (net) -376.1 135.9 84.3 242.2 175.0 121.9 139.3 205.6 225.5 121.9 99.8 28

 29 Due to foreign affiliates 841.2 1137.9 1047.9 1191.2 1067.5 929.3 1028.5 1028.5 1019.3 929.3 890.1 29

 30 - Due from foreign affiliates 1217.3 1002.0 963.6 949.0 892.5 807.3 889.2 822.9 793.8 807.3 790.3 30

 31 Less: Deposits at foreign banks 35.3 22.9 20.3 20.0 21.4 18.7 19.8 19.0 17.9 18.7 19.8 31

 32 U.S.-chartered depository institutions 18.2 14.3 11.0 11.5 12.2 9.7 12.3 10.0 9.3 9.7 10.1 32

 33 Foreign banking offices in U.S. 17.0 8.6 9.3 8.5 9.2 9.1 7.6 9.1 8.6 9.1 9.7 33

 34 Plus: Loans from foreign banks 15.5 14.2 15.1 15.5 12.8 12.8 11.3 9.4 15.4 12.8 19.9 34

 35 U.S.-chartered depository institutions 6.3 6.7 6.4 6.4 4.1 4.9 4.0 3.2 6.6 4.9 7.8 35

 36 Foreign banking offices in U.S. 9.2 7.5 8.6 9.1 8.6 7.9 7.3 6.2 8.7 7.9 12.1 36

 37 Asset: Rest of the world (1) 24.2 238.1 102.1 414.2 445.2 354.9 442.4 412.5 394.1 354.9 305.5 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) 21.3 62.1 18.7 57.2 12.0 -5.0 4.1 -5.3 -3.9 -5.0 -18.2 38

 39 Due to (3): 91.2 112.9 122.0 174.1 62.9 46.3 55.6 45.6 49.7 46.3 36.7 39

 40 Foreign banking offices in U.S. 33.1 28.2 31.3 29.0 27.6 23.0 23.6 23.9 22.3 23.0 22.3 40

 41 Banks in U.S.-affiliated areas 3.3 4.6 4.9 4.7 5.3 5.1 5.7 6.2 5.4 5.1 5.8 41

 42 Credit unions 30.0 51.9 65.7 63.5 62.8 60.5 62.0 62.9 61.7 60.5 63.8 42

 43 - Due from: Foreign banking offices in U.S. 69.9 50.8 103.3 116.9 50.9 51.3 51.5 50.8 53.5 51.3 54.9 43

 44 Unallocated (2) 24.8 28.3 20.1 76.9 -32.8 -42.2 -35.7 -47.6 -39.7 -42.2 -55.2 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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L.204 Checkable Deposits and Currency

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2359.8 2594.3 2853.8 3186.5 3537.5 3829.7 3441.3 3642.4 3558.0 3829.7 3881.2 1

 2 Monetary authority 1287.8 1165.7 1224.6 1364.1 1516.4 1720.8 1417.7 1588.3 1557.3 1720.8 1733.8 2

 3 Federal government cash and deposits 340.9 85.9 92.9 162.6 223.7 333.7 100.3 254.4 198.9 333.7 314.0 3

 4 Due to government-sponsored enterprises 13.5 64.6 27.2 25.9 20.2 31.1 20.9 28.2 32.1 31.1 41.2 4

 5 Deposits due to foreign 3.4 0.2 6.5 8.0 5.3 5.2 5.2 5.3 6.2 5.2 5.2 5

 6 Currency outside banks 930.0 1015.0 1098.1 1167.6 1267.3 1350.7 1291.3 1300.4 1320.0 1350.7 1373.3 6

 7 U.S.-chartered depository institutions 941.1 1260.5 1431.7 1579.8 1716.1 1766.4 1698.6 1717.2 1671.9 1766.4 1778.1 7

 8 Federal government deposits 3.6 1.0 1.3 1.6 2.5 2.3 2.5 2.3 2.3 2.3 2.2 8

 9 Deposits due to foreign 30.4 56.1 51.8 51.2 56.5 41.9 55.8 52.4 41.0 41.9 48.3 9

 10 Private domestic deposits 907.0 1203.5 1378.5 1527.1 1657.1 1722.1 1640.3 1662.5 1628.6 1722.1 1727.6 10

 11 Foreign banking offices in U.S. 21.9 45.6 61.8 92.6 137.8 154.1 149.4 161.2 152.8 154.1 172.3 11

 12 Deposits due to foreign 14.6 19.0 27.9 40.2 54.2 61.4 60.0 61.1 63.3 61.4 62.3 12

 13 Private domestic deposits 7.3 26.6 33.9 52.4 83.6 92.8 89.4 100.1 89.5 92.8 110.0 13

 14 Banks in U.S.-affiliated areas 16.6 19.4 21.9 28.2 33.4 35.0 33.0 35.8 35.4 35.0 38.4 14

 15 Credit unions 92.4 103.1 113.9 121.7 133.9 153.4 142.6 139.9 140.7 153.4 158.7 15

 16 Total assets 2359.8 2594.3 2853.8 3186.5 3537.5 3829.7 3441.3 3642.4 3558.0 3829.7 3881.2 16

 17 Household sector 423.5 723.8 887.5 1021.4 1158.5 1309.3 1221.5 1222.4 1163.3 1309.3 1318.8 17

 18 Nonfinancial business 766.1 821.6 835.3 910.8 984.4 1008.5 954.7 1017.9 1021.2 1008.5 1049.1 18

 19 Corporate 234.5 265.3 219.8 283.3 322.3 306.2 285.1 337.5 333.4 306.2 337.5 19

 20 Noncorporate 531.6 556.3 615.5 627.6 662.1 702.4 669.6 680.5 687.9 702.4 711.6 20

 21 Federal government 342.3 84.6 92.2 163.0 226.8 338.1 104.8 258.5 202.6 338.1 317.6 21

 22 State and local governments 104.9 121.6 118.2 125.3 141.1 131.9 130.3 133.8 130.9 131.9 132.8 22

 23 Domestic financial sectors 327.1 364.1 373.3 369.6 349.7 335.6 337.8 320.1 345.5 335.6 336.3 23

 24 Property-casualty insurance companies 32.6 24.1 36.4 29.7 35.6 32.7 35.4 30.4 34.2 32.7 30.7 24

 25 Life insurance companies 51.7 53.7 56.4 47.2 50.8 57.7 49.2 41.8 52.1 57.7 55.9 25

 26 Private pension funds 12.4 17.9 16.0 15.6 16.0 17.6 16.4 16.5 16.8 17.6 18.0 26

 27 State and local govt. retirement funds 3.9 4.1 3.8 4.1 4.6 5.0 4.9 5.0 4.9 5.0 5.2 27

 28 Money market mutual funds 14.5 20.5 16.8 13.5 -4.4 7.6 -10.0 3.3 1.7 7.6 7.3 28

 29 Government-sponsored enterprises 63.4 72.7 52.6 81.6 65.0 41.0 53.4 41.1 47.4 41.0 34.7 29

 30 Finance companies 26.5 31.7 27.8 32.1 31.9 32.5 32.4 33.2 34.1 32.5 36.4 30

 31 REITs 25.1 27.6 35.3 34.3 38.5 35.6 38.6 34.7 38.8 35.6 37.3 31

 32 Brokers and dealers 96.9 111.8 128.2 111.7 111.8 106.1 117.7 114.1 115.6 106.1 110.9 32

 33 Rest of the world 390.5 472.3 540.4 591.3 674.1 705.1 690.8 687.9 693.0 705.1 725.0 33

 34 Checkable deposits 48.4 75.2 86.2 99.4 115.9 108.6 121.1 118.8 110.6 108.6 115.8 34

 35 Currency 342.1 397.1 454.2 491.9 558.2 596.6 569.7 569.1 582.5 596.6 609.2 35

 36 Mail float 5.4 6.3 7.0 4.9 2.8 1.2 1.4 1.8 1.6 1.2 1.7 36
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L.205 Time and Savings Deposits 

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 8548.1 8952.2 9463.7 9872.9 10448.7 10854.9 10683.3 10628.2 10761.8 10854.9 11068.1 1

 2 Small time and savings deposits 6624.9 7202.2 7803.9 8110.8 8475.8 8989.5 8762.6 8708.7 8844.7 8989.5 9179.5 2

 3 U.S.-chartered depository institutions 5888.6 6425.7 6979.2 7236.0 7579.8 8042.0 7802.9 7780.9 7906.7 8042.0 8202.5 3

 4 Foreign banking offices in U.S. 35.7 48.9 62.7 90.4 84.5 97.5 126.4 88.8 96.8 97.5 98.2 4

 5 Banks in U.S.-affiliated areas 19.3 18.9 18.8 21.4 23.4 21.9 21.6 22.8 22.3 21.9 23.3 5

 6 Credit unions 681.3 708.7 743.1 763.1 788.1 828.1 811.7 816.2 818.9 828.1 855.6 6

 7 Large time deposits (1) 1923.2 1750.0 1659.9 1762.0 1972.9 1865.4 1920.7 1919.5 1917.0 1865.4 1888.5 7

 8 U.S.-chartered depository institutions 896.1 882.9 803.0 826.9 929.3 951.2 924.2 919.7 948.2 951.2 962.2 8

 9 Foreign banking offices in U.S. 977.7 814.6 798.4 869.5 971.8 837.4 924.7 926.3 893.9 837.4 845.2 9

 10 Banks in U.S.-affiliated areas 19.3 18.9 18.8 21.4 23.4 21.9 21.6 22.8 22.3 21.9 23.3 10

 11 Credit unions 30.1 33.5 39.7 44.3 48.4 54.8 50.2 50.7 52.7 54.8 58.0 11

 12 Total assets 8548.1 8952.2 9463.7 9872.9 10448.7 10854.9 10683.3 10628.2 10761.8 10854.9 11068.1 12

 13 Household sector 6442.2 6812.1 7179.2 7389.9 7886.4 8346.7 8063.8 8055.8 8220.9 8346.7 8473.6 13

 14 Nonfinancial business 905.0 924.2 967.5 1014.9 1018.9 1056.4 1050.0 1025.3 1047.4 1056.4 1047.6 14

 15 Corporate 548.7 561.9 595.2 631.1 609.5 580.0 622.4 589.8 593.7 580.0 552.6 15

 16 Noncorporate 356.2 362.2 372.3 383.8 409.4 476.4 427.6 435.5 453.7 476.4 495.0 16

 17 Federal government 2.0 1.7 2.0 1.5 1.7 1.8 1.6 1.9 2.1 1.8 1.8 17

 18 State and local governments 243.1 258.9 294.4 312.6 319.9 330.0 328.5 319.8 323.1 330.0 332.0 18

 19 Domestic financial sectors 647.7 599.7 627.2 708.8 722.6 644.1 733.2 734.3 694.3 644.1 707.1 19

 20 Private pension funds 30.9 32.7 28.9 33.6 33.8 36.8 34.7 35.1 35.8 36.8 37.6 20

 21 State and local govt. retirement funds 33.1 35.3 32.5 34.8 39.5 43.2 41.7 42.9 41.7 43.2 44.3 21

 22 Money market mutual funds 468.1 411.0 443.5 503.0 523.4 445.0 524.0 517.8 485.0 445.0 493.0 22

 23 Government-sponsored enterprises 26.1 13.4 4.3 5.4 3.3 2.5 1.9 2.8 2.7 2.5 3.3 23

 24 Finance companies 79.6 95.0 83.5 96.2 95.7 97.5 97.1 99.7 102.2 97.5 109.3 24

 25 Holding companies 10.0 12.4 34.4 35.9 27.0 19.1 33.8 36.0 26.9 19.1 19.6 25

 26 Rest of the world 308.2 355.6 393.4 445.1 499.1 475.9 506.1 491.2 473.9 475.9 505.9 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; amounts outstanding end of period, not seasonally adjusted

 1 Total assets 2803.5 2691.0 2693.2 2717.8 2724.6 2754.7 2644.7 2615.1 2667.7 2754.7 2758.8 1

 2 Household sector 1128.6 1109.1 1111.1 1139.3 1120.2 1066.1 1014.9 999.0 1005.7 1066.1 1035.9 2

 3 Nonfinancial corporate business 497.8 462.4 519.4 559.1 558.2 576.8 545.3 546.2 558.8 576.8 573.4 3

 4 Nonfinancial noncorporate business 76.8 77.7 80.7 82.7 86.6 91.5 87.8 89.0 89.8 91.5 92.3 4

 5 State and local governments 151.0 153.1 157.4 158.7 165.5 183.8 169.6 173.1 178.7 183.8 189.1 5

 6 Property-casualty insurance companies 25.6 20.0 22.3 20.1 18.3 21.5 18.9 19.5 20.6 21.5 20.6 6

 7 Life insurance companies 57.5 65.3 59.5 49.4 53.4 56.1 51.5 50.4 61.6 56.1 58.3 7

 8 Private pension funds 141.9 159.0 142.2 154.7 145.5 148.9 145.7 143.5 146.5 148.9 150.9 8

 9 State and local govt. retirement funds 50.4 49.3 45.4 48.7 53.5 57.9 56.1 57.5 55.1 57.9 59.2 9

 10 Funding corporations 604.1 520.7 458.3 396.8 410.3 437.7 445.0 428.1 440.0 437.7 464.4 10

 11 Rest of the world 69.8 74.4 96.9 108.2 113.2 114.5 109.9 108.7 110.9 114.5 114.7 11
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L.207 Federal Funds and Security Repurchase Agreements (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 3597.9 3883.2 4132.0 3665.5 3700.8 3724.6 3756.5 3694.6 3838.1 3724.6 3618.8 1

 2 Monetary authority 59.7 99.9 107.2 315.9 509.8 712.4 536.9 558.2 641.1 712.4 550.5 2

 3 U.S.-chartered depository institutions 484.0 402.5 349.9 269.4 236.2 196.8 228.7 226.2 205.9 196.8 193.7 3

 4 Federal funds (2) ND ND 69.4 58.3 38.7 39.4 28.7 34.2 29.8 39.4 39.7 4

 5 Security repurchase agreements ND ND 280.5 211.0 197.5 157.4 199.9 192.0 176.1 157.4 154.0 5

 6 Foreign banking offices in U.S. 250.0 304.4 325.0 312.7 371.3 406.6 369.9 374.8 375.4 406.6 403.4 6

 7 Federal funds (2) 34.0 24.1 21.5 18.8 27.2 26.9 38.5 22.7 26.9 26.9 29.9 7

 8 Security repurchase agreements 216.0 280.3 303.6 293.9 344.1 379.7 331.4 352.1 348.5 379.7 373.4 8

 9 Credit unions 0.0 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 1.5 3.1 2.1 1.5 1.0 1.4 1.1 1.1 1.3 1.4 1.6 10

 11 Life insurance companies 10.3 12.1 14.4 20.9 21.9 22.8 22.1 22.4 22.4 22.8 22.9 11

 12 Government-sponsored enterprises 1.3 0.4 0.0 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.0 12

 13 REITs 120.4 218.1 320.6 255.5 265.5 222.2 262.3 249.0 231.4 222.2 220.3 13

 14 Brokers and dealers 2006.3 2076.7 2207.9 1768.6 1547.7 1368.3 1535.3 1480.3 1493.7 1368.3 1366.1 14

 15 Holding companies 0.8 1.2 0.0 0.0 0.0 0.1 0.0 0.1 0.1 0.1 0.1 15

 16 Rest of the world 663.7 764.7 804.9 720.9 747.3 793.9 800.1 782.4 866.7 793.9 860.1 16

 17 Total assets 3255.8 3507.3 3728.3 3311.9 3447.3 3388.2 3419.5 3382.8 3520.7 3388.2 3284.7 17

 18 Nonfinancial corporate business 12.1 12.6 9.7 8.7 21.6 25.7 22.2 23.8 25.3 25.7 24.9 18

 19 State and local governments 125.6 120.9 124.7 126.2 132.1 147.2 135.5 138.4 143.0 147.2 151.5 19

 20 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 U.S.-chartered depository institutions 267.6 242.6 302.7 215.4 185.0 209.8 215.1 208.9 212.3 209.8 205.6 21

 22 Federal funds (2) ND ND 58.1 47.0 30.6 19.4 25.4 22.4 19.3 19.4 21.9 22

 23 Security repurchase agreements ND ND 244.6 168.4 154.4 190.4 189.7 186.5 193.0 190.4 183.8 23

 24 Foreign banking offices in U.S. 88.4 120.1 178.3 177.1 218.1 218.5 199.8 210.5 198.5 218.5 205.8 24

 25 Federal funds (2) 2.3 3.7 3.0 1.3 1.3 0.9 1.0 1.2 0.7 0.9 0.8 25

 26 Security repurchase agreements 86.2 116.4 175.3 175.8 216.9 217.6 198.7 209.3 197.8 217.6 205.0 26

 27 Credit unions 0.0 15.9 9.7 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Federal funds 0.0 15.9 9.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Security repurchase agreements 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Property-casualty insurance companies 3.8 2.4 1.7 1.7 1.8 1.8 1.7 1.7 1.8 1.8 1.7 30

 31 Life insurance companies 10.9 6.1 8.2 2.9 3.4 8.5 8.4 8.0 9.6 8.5 7.9 31

 32 Private pension funds 2.7 2.7 2.4 2.8 2.8 3.0 2.9 3.0 2.9 3.0 3.0 32

 33 State and local govt. retirement funds 3.2 3.3 3.1 3.3 3.7 4.1 3.9 4.0 3.9 4.1 4.2 33

 34 Money market mutual funds 489.0 500.7 554.8 501.6 654.5 699.3 635.0 644.9 692.4 699.3 597.1 34

 35 Mutual funds 40.6 55.6 61.9 84.2 94.1 81.7 92.8 88.6 82.9 81.7 85.4 35

 36 Government-sponsored enterprises 151.2 112.3 150.8 152.3 162.6 183.5 158.2 141.0 149.0 183.5 161.0 36

 37 Of which: FHLB federal funds (3) 75.9 41.1 44.0 29.5 52.8 42.4 42.5 41.6 31.0 42.4 49.4 37

 38 Brokers and dealers 1428.5 1583.1 1638.2 1321.0 1152.7 1133.3 1138.8 1171.2 1243.6 1133.3 1115.3 38

 39 Holding companies 50.3 50.5 10.5 7.7 2.5 2.1 5.8 7.6 4.0 2.1 3.0 39

 40 Funding corporations 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world 581.8 678.5 671.6 706.9 812.3 669.8 799.4 731.0 751.5 669.8 718.3 41

 42 Discrepancy 342.1 375.9 403.7 353.6 253.5 336.4 336.9 311.8 317.4 336.4 334.1 42

 Memo:

 43 Effective federal funds rate (percent) (4) 0.18 0.07 0.16 0.09 0.12 0.24 0.11 0.13 0.14 0.24 0.36 43

 Federal Reserve’s reverse repurchase agreement operations: (5)

 44 Liability: Monetary authority (6) 0.0 0.0 0.0 197.8 396.7 474.6 378.5 392.6 449.6 474.6 303.8 44

 45 Asset: Money market mutual funds (7) 0.0 0.0 0.0 163.3 371.2 424.0 345.3 372.2 414.4 424.0 267.7 45

 46 Other financial institutions (8) 0.0 0.0 0.0 34.5 25.5 50.6 33.2 20.5 35.2 50.6 36.2 46

(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) The effective federal funds rate is a weighted average of rates on brokered trades. Annualized using a 360-day year.

(5) 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).

(6) Included in line 2.

(7) Included in line 34.

(8) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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L.208 Debt Securities (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 By instrument

 1 Total debt securities 33380.9 34417.6 36045.9 37236.4 38547.8 39692.7 38734.5 38868.8 38982.1 39692.7 40218.3 1

 2 Open market paper 1057.6 969.3 952.4 951.6 930.4 941.5 952.7 978.8 991.3 941.5 1021.1 2

 3 Treasury securities 10504.4 11642.0 12822.9 13680.6 14416.7 15141.1 14434.9 14353.4 14376.7 15141.1 15377.3 3

 4 Agency- and GSE-backed securities 7605.5 7584.5 7560.3 7798.2 7948.4 8169.0 7904.9 7959.9 8047.1 8169.0 8178.0 4

 5 Municipal securities 3772.1 3719.4 3714.4 3671.2 3652.4 3719.0 3694.0 3714.6 3710.0 3719.0 3746.9 5

 6 Corporate and foreign bonds 10441.2 10502.5 10995.8 11134.7 11600.0 11722.2 11748.0 11862.1 11857.0 11722.2 11894.9 6

 By sector

 7 Total liabilities 33380.9 34417.6 36045.9 37236.4 38547.8 39692.7 38734.5 38868.8 38982.1 39692.7 40218.3 7

 8 Domestic nonfinancial sectors 17759.8 19041.3 20555.9 21662.3 22688.7 23876.4 22867.7 22950.7 23073.5 23876.4 24281.7 8

 9 Household sector (nonprofits) 263.2 255.5 241.0 227.8 223.1 218.0 223.0 219.7 217.2 218.0 219.9 9

 10 Nonfinancial corporate business 3944.5 4148.6 4502.8 4804.4 5113.7 5526.1 5239.7 5394.5 5499.2 5526.1 5673.1 10

 11 Federal government 10528.6 11667.3 12847.8 13705.1 14441.1 15165.6 14459.0 14378.1 14400.8 15165.6 15401.8 11

 12 State and local governments 3023.6 2970.0 2964.3 2924.9 2910.9 2966.6 2945.9 2958.5 2956.3 2966.6 2986.9 12

 13 Domestic financial sectors 13544.8 13117.5 12923.9 12924.3 13073.3 13116.6 13019.9 13077.1 13143.5 13116.6 13158.4 13

 14 U.S.-chartered depository institutions 490.1 500.1 383.4 280.7 263.5 254.2 243.6 244.7 247.3 254.2 263.4 14

 15 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Government-sponsored enterprises 6434.5 6247.3 6092.7 6200.2 6275.5 6369.0 6234.6 6258.0 6293.5 6369.0 6350.1 16

 17 Agency- and GSE-backed mortgage pools 1146.8 1311.9 1442.7 1573.5 1648.5 1775.5 1646.2 1677.2 1729.5 1775.5 1803.5 17

 18 ABS issuers 2341.3 2068.0 1841.0 1513.3 1434.2 1355.3 1434.4 1422.6 1379.1 1355.3 1289.0 18

 19 Finance companies 1188.3 1158.5 1084.5 1078.3 1080.3 1073.0 1090.0 1070.4 1077.5 1073.0 1065.9 19

 20 REITs 145.4 152.9 179.4 355.5 403.3 391.1 403.5 401.3 395.9 391.1 412.5 20

 21 Brokers and dealers 129.7 91.8 90.2 112.4 123.9 131.3 107.4 135.8 135.4 131.3 119.5 21

 22 Holding companies 1046.9 966.5 1219.6 1192.1 1200.1 1057.2 1188.8 1192.6 1181.5 1057.2 1087.1 22

 23 Funding corporations 621.7 620.5 590.5 618.2 644.0 710.0 671.3 674.5 703.8 710.0 767.4 23

 24 Rest of the world 2076.3 2258.7 2566.1 2649.9 2785.8 2699.7 2847.0 2841.0 2765.1 2699.7 2778.3 24

 25 Total assets: 33380.9 34417.6 36045.9 37236.4 38547.8 39692.7 38734.5 38868.8 38982.1 39692.7 40218.3 25

 26 Domestic nonfinancial sectors 6580.2 5992.8 5858.2 5806.6 5584.8 6119.9 5617.8 5794.4 5985.6 6119.9 6068.5 26

 27 Household sector 4827.7 4428.2 4316.1 4335.1 4081.5 4545.6 4095.0 4275.7 4437.0 4545.6 4466.4 27

 28 Nonfinancial corporate business 155.9 147.4 135.0 121.8 131.1 123.2 125.3 119.1 114.9 123.2 116.6 28

 29 Nonfinancial noncorporate business 53.7 54.8 59.0 59.5 62.3 66.9 63.2 64.4 65.3 66.9 67.8 29

 30 Federal government 150.1 31.9 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 30

 31 State and local governments 1392.8 1330.5 1347.5 1289.6 1309.3 1383.7 1333.9 1334.7 1368.0 1383.7 1417.1 31

 32 Domestic financial sectors 18549.1 19676.1 20822.9 21841.7 22816.1 23276.5 22859.2 22712.4 22698.9 23276.5 23658.8 32

 33 Monetary authority 2161.1 2605.1 2669.6 3756.2 4236.9 4242.0 4228.4 4228.9 4238.3 4242.0 4243.7 33

 34 U.S.-chartered depository institutions 2549.8 2658.2 2821.8 2912.4 3153.9 3368.3 3223.9 3262.8 3276.3 3368.3 3387.3 34

 35 Foreign banking offices in U.S. 325.6 327.8 339.2 288.8 274.3 265.3 265.8 253.3 262.7 265.3 286.5 35

 36 Banks in U.S.-affiliated areas 17.0 13.5 10.9 12.4 11.1 11.9 11.1 11.4 11.4 11.9 11.8 36

 37 Credit unions 178.3 209.2 227.2 231.7 222.8 219.9 228.1 225.3 216.2 219.9 221.4 37

 38 Property-casualty insurance companies 886.4 921.9 922.2 950.8 970.6 968.3 963.4 966.9 966.4 968.3 974.9 38

 39 Life insurance companies 2716.0 2818.5 2879.1 2934.2 3004.3 3075.2 3027.5 3041.0 3065.3 3075.2 3138.5 39

 40 Private pension funds 851.9 927.0 1069.8 1159.6 1182.6 1225.2 1196.6 1198.2 1209.6 1225.2 1241.4 40

 41 Federal government retirement funds 1284.8 1381.1 1436.9 1544.7 1631.2 1723.4 1523.0 1395.6 1303.8 1723.4 1714.7 41

 42 State and local govt. retirement funds 724.1 728.8 726.5 816.4 861.3 839.1 870.3 868.7 843.8 839.1 842.0 42

 43 Money market mutual funds 1700.3 1692.1 1604.9 1633.8 1509.6 1581.9 1446.5 1411.2 1463.1 1581.9 1631.5 43

 44 Mutual funds 2916.5 3157.9 3741.4 3630.3 3834.5 3834.2 3932.4 3922.1 3881.2 3834.2 3972.3 44

 45 Closed-end funds 146.4 144.7 155.9 169.5 165.6 160.6 165.3 166.6 162.3 160.6 158.4 45

 46 Exchange-traded funds 132.7 178.8 231.1 243.3 294.3 349.3 313.6 315.5 337.0 349.3 380.8 46

 47 Government-sponsored enterprises 760.9 722.3 585.7 491.1 472.1 446.9 465.7 448.7 442.7 446.9 443.8 47

 48 ABS issuers 42.4 28.9 23.0 21.8 27.3 28.2 28.0 29.0 28.7 28.2 27.2 48

 49 Finance companies 84.1 85.0 78.7 67.9 73.9 79.7 76.1 79.6 78.3 79.7 78.0 49

 50 REITs 166.6 275.1 394.1 304.4 312.0 266.2 308.3 287.7 279.7 266.2 265.5 50

 51 Brokers and dealers 510.1 508.9 612.7 426.4 337.3 300.6 344.8 318.9 308.1 300.6 299.1 51

 52 Holding companies 79.0 78.2 103.8 76.1 76.0 55.3 70.5 70.9 75.4 55.3 52.9 52

 53 Funding corporations 315.1 213.3 188.4 169.8 164.3 235.2 170.1 210.1 248.6 235.2 287.1 53

 54 Rest of the world 8251.6 8748.7 9364.8 9588.1 10146.9 10296.3 10257.4 10362.0 10297.6 10296.3 10491.0 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.
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L.209 Open Market Paper

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total outstanding, all types 1057.6 969.3 952.4 951.6 930.4 941.5 952.7 978.8 991.3 941.5 1021.1 1

 2 Commercial paper 1057.5 969.2 952.4 951.6 930.4 941.5 952.7 978.8 991.3 941.5 1021.1 2

 3 Nonfinancial corporate business 82.9 116.3 130.3 144.5 182.0 176.5 188.2 177.5 201.2 176.5 185.5 3

 4 Foreign issues in U.S. 398.6 345.1 373.0 407.0 385.6 444.8 415.9 429.4 447.8 444.8 467.3 4

 5 Nonfinancial 30.6 30.2 40.4 51.6 45.2 44.1 49.7 67.0 57.8 44.1 57.3 5

 6 Financial 368.0 314.9 332.6 355.4 340.4 400.7 366.2 362.4 390.0 400.7 410.1 6

 7 Financial business 575.9 507.8 449.1 400.2 362.9 320.1 348.5 371.9 342.3 320.1 368.4 7

 8 U.S.-chartered depository institutions 112.9 120.6 87.5 59.7 54.5 53.6 49.0 50.1 51.1 53.6 56.6 8

 9 ABS issuers 120.2 96.0 87.0 79.9 64.8 57.5 64.4 70.0 58.1 57.5 67.0 9

 10 Finance companies 111.0 121.0 129.1 118.8 117.8 114.8 113.8 121.0 122.2 114.8 113.4 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 64.7 75.9 116.4 96.6 77.0 5.7 70.0 56.3 16.0 5.7 5.6 12

 13 Funding corporations 167.1 94.3 29.0 45.2 48.9 88.6 51.3 74.5 94.9 88.6 125.8 13

 14 Bankers’ acceptances (1) 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holdings, by sector 1057.6 969.3 952.4 951.6 930.4 941.5 952.7 978.8 991.3 941.5 1021.1 17

 18 Household sector 21.1 19.4 18.8 15.0 14.9 13.7 15.2 15.7 14.3 13.7 11.7 18

 19 Nonfinancial corporate business 68.0 67.9 59.5 52.9 56.4 54.4 57.4 56.6 54.8 54.4 54.8 19

 20 State and local governments 102.6 90.5 82.7 73.3 66.2 65.5 65.3 64.1 67.4 65.5 64.3 20

 21 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S.-chartered depository institutions (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Property-casualty insurance companies 7.9 8.8 7.4 8.1 7.9 8.8 8.1 8.2 8.6 8.8 8.5 25

 26 Life insurance companies 40.9 29.7 43.6 46.7 42.2 34.7 39.9 37.1 38.6 34.7 37.5 26

 27 Private pension funds 38.1 40.5 35.8 41.2 42.4 45.6 43.8 44.4 44.4 45.6 46.7 27

 28 State and local govt. retirement funds 36.4 38.5 35.4 37.9 43.0 47.1 45.4 46.7 45.4 47.1 48.2 28

 29 Money market mutual funds 402.1 361.5 347.2 357.9 338.6 298.8 347.0 341.7 338.0 298.8 333.4 29

 30 Mutual funds 40.6 55.6 61.9 84.2 94.1 81.7 92.8 88.6 82.9 81.7 85.4 30

 31 Government-sponsored enterprises 9.9 6.5 3.4 4.4 6.0 5.5 5.6 5.6 5.0 5.5 5.5 31

 32 Brokers and dealers 36.2 42.1 29.9 28.7 20.8 19.5 21.7 19.6 19.5 19.5 20.3 32

 33 Funding corporations 151.6 105.8 124.1 100.1 89.9 162.1 92.2 137.4 171.5 162.1 206.2 33

 34 Rest of the world 102.1 102.7 102.8 101.3 107.9 104.1 118.4 113.0 100.8 104.1 98.7 34

(1) Excludes banks’ holdings of own acceptances.
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L.210 Treasury Securities (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 10504.4 11642.0 12822.9 13680.6 14416.7 15141.1 14434.9 14353.4 14376.7 15141.1 15377.3 1

 2 Marketable Treasury securities 8822.7 9906.1 11027.9 11834.2 12480.9 13169.0 12606.7 12670.7 12812.8 13169.0 13407.1 2

 3 Treasury bills 1768.9 1519.5 1626.5 1590.6 1456.7 1511.0 1476.5 1393.2 1355.2 1511.0 1614.4 3

 4 Other Treasury notes, bonds, and TIPS 7043.5 8378.2 9394.4 10228.6 11010.6 11643.0 11116.6 11265.2 11445.3 11643.0 11777.7 4

 5 Held in the Civil Service Retirement Fund (2) 10.2 8.4 7.1 15.0 13.6 15.0 13.6 12.3 12.3 15.0 15.0 5

 6 Nonmarketable Treasury securities 1681.7 1735.9 1795.0 1846.5 1935.8 1972.1 1828.2 1682.7 1563.9 1972.1 1970.2 6

 7 U.S. savings securities 188.0 185.3 182.5 179.2 176.0 171.6 175.0 174.0 172.8 171.6 170.4 7

 8 State and local government series (SLGS) 192.9 152.1 162.6 120.6 116.5 75.2 117.9 99.8 78.1 75.2 82.8 8

 9 Thrift Savings Plan G Fund 124.8 147.7 158.5 172.7 191.3 206.9 131.7 68.6 0.0 206.9 213.0 9

 10 Federal govt. defined benefit pension plans 1132.7 1205.2 1247.0 1337.3 1407.5 1481.8 1358.7 1295.3 1271.9 1481.8 1467.0 10

 11 Other nonmarketable securities 43.4 45.6 44.4 36.6 44.6 36.5 44.9 45.1 41.0 36.5 37.1 11

 12 Total assets 10504.4 11642.0 12822.9 13680.6 14416.7 15141.1 14434.9 14353.4 14376.7 15141.1 15377.3 12

 13 Household sector 1106.7 702.0 943.9 1144.9 842.1 1123.5 880.0 953.2 1037.1 1123.5 1071.6 13

 14 U.S. savings securities (line 7) 188.0 185.3 182.5 179.2 176.0 171.6 175.0 174.0 172.8 171.6 170.4 14

 15 Other Treasury securities 918.7 516.7 761.4 965.7 666.2 951.9 705.0 779.2 864.3 951.9 901.2 15

 16 Nonfinancial corporate business 48.0 43.0 39.4 38.8 41.3 35.4 33.9 31.1 30.2 35.4 32.3 16

 17 Nonfinancial noncorporate business 48.1 48.9 52.9 55.2 57.8 62.0 58.6 59.7 60.5 62.0 62.9 17

 18 State and local governments 595.5 561.1 603.9 586.1 622.6 686.7 641.7 639.9 659.1 686.7 714.3 18

 19 SLGS (line 8) 192.9 152.1 162.6 120.6 116.5 75.2 117.9 99.8 78.1 75.2 82.8 19

 20 Other Treasury securities 402.5 409.0 441.4 465.5 506.1 611.5 523.8 540.1 581.0 611.5 631.5 20

 21 Monetary authority 1021.5 1663.4 1666.1 2208.8 2461.4 2461.6 2459.6 2461.0 2461.9 2461.6 2461.3 21

 22 Treasury bills 18.4 18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other Treasury securities 1003.1 1645.0 1666.1 2208.8 2461.4 2461.6 2459.6 2461.0 2461.9 2461.6 2461.3 23

 24 U.S.-chartered depository institutions 217.5 173.9 243.2 217.1 420.4 435.2 421.3 424.2 420.9 435.2 435.1 24

 25 Foreign banking offices in U.S. 60.9 60.5 76.6 67.0 56.5 69.8 55.7 57.3 54.7 69.8 78.8 25

 26 Banks in U.S.-affiliated areas 1.1 1.0 0.4 1.2 1.3 2.4 1.5 1.8 2.2 2.4 2.5 26

 27 Credit unions 20.1 17.6 19.3 19.1 21.6 29.2 22.9 23.3 22.9 29.2 28.8 27

 28 Property-casualty insurance companies 91.7 96.4 89.7 96.1 102.4 99.2 100.9 100.2 99.8 99.2 99.3 28

 29 Treasury bills 15.5 17.4 14.1 23.5 26.8 22.9 25.6 24.4 23.9 22.9 22.0 29

 30 Other Treasury securities 76.2 78.9 75.6 72.6 75.6 76.3 75.3 75.8 75.9 76.3 77.2 30

 31 Life insurance companies 156.6 175.4 180.9 168.6 182.9 197.6 191.8 193.1 198.0 197.6 202.1 31

 32 Treasury bills 10.2 14.0 9.5 6.7 8.7 6.5 7.9 7.0 7.9 6.5 7.0 32

 33 Other Treasury securities 146.4 161.4 171.4 162.0 174.3 191.1 183.9 186.0 190.1 191.1 195.1 33

 34 Private pension funds 199.9 238.4 301.8 299.8 312.6 328.0 318.2 321.8 324.7 328.0 330.0 34

 35 Defined benefit plans 119.4 152.4 188.3 185.7 191.2 198.6 194.5 195.7 197.2 198.6 198.9 35

 36 Defined contribution plans 80.5 86.0 113.5 114.2 121.3 129.4 123.7 126.1 127.5 129.4 131.1 36

 37 Federal government retirement funds 1273.0 1367.2 1419.8 1530.6 1617.7 1708.9 1509.3 1381.7 1289.3 1708.9 1700.2 37

 38 Defined benefit plans 1145.0 1215.4 1255.5 1353.7 1422.6 1498.0 1373.7 1309.1 1285.5 1498.0 1483.1 38

 39 Defined contribution plans 128.1 151.8 164.2 176.9 195.0 210.9 135.6 72.6 3.9 210.9 217.0 39

 40 State and local govt. retirement funds 153.7 160.7 172.8 188.2 176.8 163.6 172.7 169.1 162.2 163.6 160.5 40

 41 Money market mutual funds 342.1 452.6 466.3 496.1 419.0 482.9 429.1 404.3 391.4 482.9 545.5 41

 42 Treasury bills 239.2 269.1 288.1 294.2 244.6 236.0 213.5 197.0 182.4 236.0 283.4 42

 43 Other Treasury securities 102.9 183.4 178.3 201.9 174.5 246.9 215.6 207.3 209.0 246.9 262.1 43

 44 Mutual funds 417.4 469.3 559.2 472.8 682.9 826.6 709.4 725.6 789.1 826.6 849.3 44

 45 Treasury bills 417.4 469.3 559.2 472.8 682.9 826.6 709.4 725.6 789.1 826.6 849.3 45

 46 Other Treasury securities 417.4 469.3 559.2 472.8 682.9 826.6 709.4 725.6 789.1 826.6 849.3 46

 47 Closed-end funds 5.1 4.8 5.2 5.7 5.5 5.1 5.4 5.4 5.3 5.1 4.9 47

 48 Exchange-traded funds 51.0 62.4 63.6 57.1 70.1 84.2 73.2 73.7 88.4 84.2 94.3 48

 49 Government-sponsored enterprises 82.6 100.2 69.0 59.1 64.3 87.5 71.8 70.8 77.6 87.5 90.9 49

 50 ABS issuers 38.8 28.6 22.7 21.7 27.2 28.2 27.9 28.9 28.6 28.2 27.2 50

 51 Brokers and dealers 94.5 183.6 246.5 136.0 60.2 65.3 63.7 43.6 53.6 65.3 90.8 51

 52 Holding companies 19.6 26.8 8.2 16.6 13.9 10.2 10.2 8.9 12.9 10.2 10.0 52

 53 Rest of the world 4458.8 5004.4 5571.5 5793.8 6156.2 6148.0 6176.0 6174.9 6106.3 6148.0 6284.8 53

 54 Treasury bills 710.3 647.7 661.7 685.0 671.6 724.6 702.0 700.6 667.1 724.6 724.9 54

 55 Other Treasury securities 3748.5 4356.7 4909.8 5108.9 5484.5 5423.4 5474.0 5474.4 5439.2 5423.4 5559.9 55

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds.

 In the Financial Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as

 opposed to intragovernmental holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.
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L.211 Agency- and GSE-Backed Securities (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 7605.5 7584.5 7560.3 7798.2 7948.4 8169.0 7904.9 7959.9 8047.1 8169.0 8178.0 1

 2 Budget agencies 24.2 25.3 24.9 24.5 24.4 24.6 24.1 24.7 24.1 24.6 24.4 2

 3 Government-sponsored enterprises 6434.5 6247.3 6092.7 6200.2 6275.5 6369.0 6234.6 6258.0 6293.5 6369.0 6350.1 3

 4 Agency- and GSE-backed mortgage pools 1146.8 1311.9 1442.7 1573.5 1648.5 1775.5 1646.2 1677.2 1729.5 1775.5 1803.5 4

 5 Total assets 7605.5 7584.5 7560.3 7798.2 7948.4 8169.0 7904.9 7959.9 8047.1 8169.0 8178.0 5

 6 Household sector 289.8 330.6 239.9 279.7 336.5 539.8 307.7 356.1 434.3 539.8 504.8 6

 7 Nonfinancial corporate business 16.0 14.3 13.1 8.9 13.8 11.8 11.3 10.4 10.1 11.8 10.8 7

 8 Federal government 149.2 31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments 516.4 502.6 482.2 452.6 437.9 431.6 440.3 440.9 446.2 431.6 432.7 9

 10 Monetary authority 1139.6 941.7 1003.4 1547.4 1775.5 1780.4 1768.8 1768.0 1776.3 1780.4 1782.3 10

 11 U.S.-chartered depository institutions 1527.2 1634.1 1669.6 1717.3 1760.3 1924.7 1815.0 1845.5 1861.5 1924.7 1930.2 11

 12 Foreign banking offices in U.S. 26.5 30.6 32.1 25.4 20.5 23.1 19.3 23.3 20.9 23.1 23.2 12

 13 Banks in U.S.-affiliated areas 12.8 4.8 2.6 1.9 1.7 1.8 1.5 1.8 1.8 1.8 1.5 13

 14 Credit unions 151.5 182.1 197.0 199.2 187.5 175.6 190.1 186.9 178.3 175.6 176.4 14

 15 Property-casualty insurance companies 115.8 122.7 114.3 109.5 106.2 98.6 103.5 102.1 100.2 98.6 99.4 15

 16 Life insurance companies 376.0 374.4 360.9 354.1 339.1 324.8 336.9 333.7 328.9 324.8 331.4 16

 17 Private pension funds 178.8 169.4 171.3 165.5 155.0 147.8 153.2 149.7 147.8 147.8 146.5 17

 18 Federal government retirement funds 5.8 6.5 8.1 6.4 5.9 6.1 6.0 6.1 6.0 6.1 6.1 18

 19 State and local govt. retirement funds 154.7 128.2 103.4 106.4 102.2 94.5 99.8 97.7 93.7 94.5 93.0 19

 20 Money market mutual funds 410.9 412.1 349.9 367.2 390.5 467.4 328.0 339.0 399.4 467.4 460.9 20

 21 Mutual funds 743.8 833.0 950.1 873.6 689.8 584.9 707.9 674.6 627.0 584.9 601.0 21

 22 Government-sponsored enterprises 377.0 358.9 310.6 287.9 295.7 281.4 292.6 285.8 281.4 281.4 282.7 22

 23 ABS issuers 3.6 0.3 0.3 0.1 0.1 0.0 0.1 0.1 0.1 0.0 0.0 23

 24 REITs 143.4 248.1 357.6 269.3 277.8 227.8 269.4 248.4 241.0 227.8 227.4 24

 25 Brokers and dealers 149.8 147.7 169.6 114.2 121.9 109.7 124.3 125.5 122.8 109.7 102.6 25

 26 Holding companies 21.1 33.1 22.9 28.0 28.0 23.7 31.0 29.6 30.3 23.7 21.7 26

 27 Rest of the world 1095.8 1078.2 1001.2 883.8 902.6 913.5 898.3 934.7 939.1 913.5 943.5 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown on table L.106, line 20.
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L.212 Municipal Securities

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 3772.1 3719.4 3714.4 3671.2 3652.4 3719.0 3694.0 3714.6 3710.0 3719.0 3746.9 1

 2 State and local governments 3023.6 2970.0 2964.3 2924.9 2910.9 2966.6 2945.9 2958.5 2956.3 2966.6 2986.9 2

 3 Short-term (1) 63.0 52.3 56.1 45.3 38.6 32.8 38.1 31.1 31.5 32.8 32.4 3

 4 Long-term 2960.6 2917.6 2908.2 2879.6 2872.3 2933.8 2907.9 2927.4 2924.8 2933.8 2954.5 4

 5 Nonprofit organizations (2) 263.2 255.5 241.0 227.8 223.1 218.0 223.0 219.7 217.2 218.0 219.9 5

 6 Nonfinancial corporate business 485.4 493.9 509.1 518.5 518.4 534.3 525.1 536.5 536.5 534.3 540.1 6

 (industrial revenue bonds)

 7 Total assets 3772.1 3719.4 3714.4 3671.2 3652.4 3719.0 3694.0 3714.6 3710.0 3719.0 3746.9 7

 8 Household sector 1905.7 1826.6 1679.2 1692.6 1605.1 1596.5 1620.7 1646.5 1629.3 1596.5 1608.0 8

 9 Nonfinancial corporate business 23.9 22.3 22.9 21.2 19.7 21.6 22.7 21.0 19.9 21.6 18.7 9

 10 Nonfinancial noncorporate business 5.6 5.9 6.1 4.4 4.6 4.9 4.6 4.7 4.8 4.9 5.0 10

 11 State and local governments 12.9 13.1 13.3 13.2 13.6 14.9 13.9 14.2 14.6 14.9 15.4 11

 12 U.S.-chartered depository institutions 254.6 297.3 365.0 418.9 451.5 498.9 465.2 476.6 488.1 498.9 507.5 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Banks in U.S.-affiliated areas 2.5 3.4 2.6 3.6 2.7 2.1 2.7 2.5 2.2 2.1 2.0 14

 15 Credit unions 0.0 3.2 4.2 4.6 3.8 4.3 3.9 4.2 4.4 4.3 4.8 15

 16 Property-casualty insurance companies 348.4 331.0 328.1 326.4 322.1 330.4 322.0 325.7 327.5 330.4 333.0 16

 17 Life insurance companies 112.3 121.8 131.5 141.6 147.8 158.5 149.9 152.4 155.6 158.5 161.8 17

 18 State and local govt. retirement funds 2.0 1.4 1.4 2.4 3.3 2.9 2.0 3.8 2.1 2.9 3.0 18

 19 Money market mutual funds 387.9 358.7 337.6 309.0 282.0 268.4 273.8 257.9 256.9 268.4 239.1 19

 20 Mutual funds 490.4 519.2 608.9 529.6 586.6 603.7 598.9 591.0 593.2 603.7 628.4 20

 21 Closed-end funds 81.6 82.5 86.0 84.3 84.8 84.0 84.6 83.9 83.8 84.0 84.5 21

 22 Exchange-traded funds 7.6 8.6 12.3 11.4 14.6 18.5 16.0 16.6 17.1 18.5 20.3 22

 23 Government-sponsored enterprises 24.9 21.0 17.0 13.4 10.8 8.2 9.9 9.1 8.7 8.2 7.5 23

 24 Brokers and dealers 40.0 30.9 26.6 18.6 18.9 14.0 20.6 19.0 15.9 14.0 18.8 24

 25 Rest of the world 71.7 72.4 71.8 76.1 80.4 87.2 82.5 85.4 86.0 87.2 89.2 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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L.213 Corporate and Foreign Bonds

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 10441.2 10502.5 10995.8 11134.7 11600.0 11722.2 11748.0 11862.1 11857.0 11722.2 11894.9 1

 2 Nonfinancial corporate business 3376.2 3538.4 3863.3 4141.4 4413.3 4815.3 4526.4 4680.5 4761.5 4815.3 4947.5 2

 3 Domestic financial sectors 5387.4 5050.5 4939.4 4750.4 4786.4 4652.0 4790.6 4770.0 4778.3 4652.0 4636.4 3

 4 U.S.-chartered depository institutions 377.1 379.4 295.9 221.0 209.0 200.6 194.6 194.5 196.2 200.6 206.9 4

 5 ABS issuers (net) (1) 2221.2 1971.9 1754.0 1433.4 1369.4 1297.8 1370.0 1352.6 1321.1 1297.8 1222.0 5

 6 Finance companies 1077.3 1037.5 955.3 959.5 962.6 958.2 976.2 949.4 955.3 958.2 952.5 6

 7 REITs 145.4 152.9 179.4 355.5 403.3 391.1 403.5 401.3 395.9 391.1 412.5 7

 8 Brokers and dealers 129.7 91.8 90.2 112.4 123.9 131.3 107.4 135.8 135.4 131.3 119.5 8

 9 Holding companies 982.2 890.6 1103.2 1095.6 1123.2 1051.6 1118.8 1136.3 1165.5 1051.6 1081.5 9

 10 Funding corporations 454.6 526.2 561.5 572.9 595.1 621.4 620.0 600.1 608.9 621.4 641.7 10

 11 Rest of the world (2) 1677.6 1913.6 2193.1 2242.9 2400.2 2254.9 2431.0 2411.6 2317.3 2254.9 2311.0 11

 12 Total assets (3) 10441.2 10502.5 10995.8 11134.7 11600.0 11722.2 11748.0 11862.1 11857.0 11722.2 11894.9 12

 13 Household sector 1504.4 1549.7 1434.4 1202.9 1282.9 1272.0 1271.3 1304.1 1322.0 1272.0 1270.3 13

 14 Federal government 0.9 0.8 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 14

 15 State and local governments 165.4 163.2 165.3 164.4 169.0 185.1 172.6 175.6 180.7 185.1 190.5 15

 16 U.S.-chartered depository institutions 550.5 553.0 544.0 559.2 521.7 509.5 522.4 516.5 505.8 509.5 514.6 16

 17 MBS and other ABS 174.9 150.1 149.1 147.7 139.1 127.2 137.8 135.0 131.1 127.2 121.2 17

 18 Other 375.6 402.9 394.9 411.4 382.6 382.3 384.7 381.5 374.8 382.3 393.3 18

 19 Foreign banking offices in U.S. 238.2 236.7 230.5 196.4 197.3 172.4 190.8 172.8 187.2 172.4 184.6 19

 20 Banks in U.S.-affiliated areas 0.6 4.2 5.2 5.8 5.3 5.6 5.4 5.3 5.2 5.6 5.8 20

 21 Credit unions 6.6 6.3 6.7 8.9 9.9 10.8 11.1 10.9 10.7 10.8 11.4 21

 22 MBS and other ABS 6.1 5.9 6.6 8.7 9.7 10.6 11.0 10.6 10.5 10.6 11.3 22

 23 Other 0.5 0.4 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 23

 24 Property-casualty insurance companies 322.6 363.1 382.7 410.8 432.0 431.2 428.9 430.8 430.3 431.2 434.7 24

 25 MBS and other ABS 0.0 71.3 74.5 82.7 93.0 93.9 93.2 93.4 93.6 93.9 94.9 25

 26 Other 322.6 291.8 308.2 328.0 339.0 337.4 335.7 337.4 336.7 337.4 339.8 26

 27 Life insurance companies 2030.2 2117.3 2162.2 2223.0 2292.3 2359.6 2309.1 2324.7 2344.2 2359.6 2405.8 27

 28 MBS and other ABS 0.0 434.9 410.6 419.7 435.5 429.5 434.0 432.5 431.0 429.5 437.3 28

 29 Other 2030.2 1682.3 1751.6 1803.3 1856.8 1930.1 1875.1 1892.2 1913.2 1930.1 1968.5 29

 30 Private pension funds 435.0 478.7 560.8 653.0 672.6 703.9 681.5 682.3 692.8 703.9 718.2 30

 31 Federal government retirement funds 5.9 7.3 9.0 7.7 7.7 8.4 7.7 7.8 8.4 8.4 8.4 31

 32 State and local govt. retirement funds 377.3 399.9 413.4 481.7 535.9 531.1 550.4 551.3 540.3 531.1 537.2 32

 33 Money market mutual funds 157.3 107.3 104.0 103.7 79.5 64.4 68.6 68.3 77.4 64.4 52.7 33

 34 Mutual funds 1224.4 1280.9 1561.3 1670.0 1781.2 1737.3 1823.3 1842.4 1789.0 1737.3 1808.1 34

 35 Closed-end funds 59.7 57.3 64.8 79.4 75.3 71.5 75.2 77.2 73.3 71.5 69.0 35

 36 Exchange-traded funds 74.1 107.7 155.3 174.8 209.6 246.5 224.4 225.2 231.6 246.5 266.2 36

 37 Government-sponsored enterprises 266.5 235.7 185.7 126.3 95.4 64.3 85.8 77.5 69.8 64.3 57.2 37

 38 MBS and other ABS 241.6 209.5 178.3 119.4 89.3 58.9 79.8 71.7 64.2 58.9 52.0 38

 39 Other 24.8 26.2 7.4 6.8 6.2 5.4 6.0 5.8 5.6 5.4 5.2 39

 40 Finance companies 84.1 85.0 78.7 67.9 73.9 79.7 76.1 79.6 78.3 79.7 78.0 40

 41 REITs 23.2 27.0 36.5 35.1 34.2 38.3 38.9 39.3 38.7 38.3 38.1 41

 42 Brokers and dealers 189.5 104.5 140.0 128.9 115.5 92.1 114.5 111.2 96.4 92.1 66.7 42

 43 Holding companies 38.3 18.3 72.7 31.5 34.1 21.5 29.2 32.4 32.1 21.5 21.1 43

 44 Funding corporations 163.4 107.5 64.4 69.7 74.4 73.0 77.9 72.7 77.1 73.0 80.9 44

 45 Rest of the world (4) 2523.1 2491.0 2617.6 2733.1 2899.7 3043.5 2982.3 3053.9 3065.4 3043.5 3074.8 45

 46 MBS and other ABS 441.4 415.5 403.9 395.8 400.0 404.2 403.9 412.2 411.5 404.2 400.6 46

 47 Other 2081.7 2075.6 2213.6 2337.3 2499.7 2639.3 2578.3 2641.7 2653.8 2639.3 2674.2 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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L.214 Loans (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 By instrument

 1 Total loans 21282.8 21206.8 21464.1 22046.5 22997.5 23775.0 23072.2 23378.8 23503.3 23775.0 23894.3 1

 2 Depository institution loans n.e.c. 2039.4 2217.0 2393.8 2590.3 2910.2 3206.4 2988.1 3073.6 3099.6 3206.4 3285.0 2

 3 Other loans and advances 2765.7 2732.1 2880.0 3088.5 3323.9 3240.8 3298.7 3332.4 3233.0 3240.8 3219.0 3

 4 Mortgages 13830.5 13499.4 13269.9 13271.5 13445.5 13793.2 13462.6 13575.0 13689.3 13793.2 13848.4 4

 5 Home 10452.7 10206.9 9976.5 9882.4 9887.4 9989.3 9858.4 9905.4 9962.6 9989.3 10008.8 5

 6 Multifamily residential 857.7 857.4 888.0 923.3 986.6 1091.7 1007.5 1032.6 1055.1 1091.7 1111.1 6

 7 Commercial 2366.0 2267.9 2232.2 2281.0 2375.1 2507.1 2398.3 2436.3 2468.7 2507.1 2522.8 7

 8 Farm 154.1 167.2 173.2 184.8 196.3 205.1 198.5 200.7 202.9 205.1 205.6 8

 9 Consumer credit 2647.2 2758.3 2920.4 3096.2 3318.0 3534.6 3322.8 3397.8 3481.4 3534.6 3542.0 9

 By sector

 10 Total liabilities 21282.8 21206.8 21464.1 22046.5 22997.5 23775.0 23072.2 23378.8 23503.3 23775.0 23894.3 10

 11 Domestic nonfinancial sectors 19314.8 19181.7 19414.8 19766.9 20529.4 21281.1 20611.9 20868.3 21002.4 21281.1 21376.7 11

 12 Household sector 13251.3 13049.8 13115.7 13274.0 13657.3 14012.1 13640.0 13786.1 13874.1 14012.1 14026.6 12

 13 Nonfinancial corporate business 2098.2 2230.1 2226.0 2314.7 2491.1 2577.8 2538.9 2564.3 2547.9 2577.8 2589.9 13

 14 Nonfinancial noncorporate business 3950.9 3886.6 4057.3 4162.0 4364.4 4674.4 4416.4 4501.2 4563.7 4674.4 4743.1 14

 15 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 State and local governments 14.4 15.3 15.7 16.2 16.6 16.9 16.7 16.7 16.7 16.9 17.1 16

 17 Domestic financial sectors 1786.3 1798.9 1781.4 1971.3 2128.4 2130.4 2109.8 2148.3 2139.3 2130.4 2152.9 17

 18 U.S.-chartered depository institutions 392.8 332.1 336.7 410.1 468.2 499.6 436.0 478.1 460.2 499.6 485.5 18

 19 Credit unions 26.1 24.2 25.1 27.0 35.4 44.7 34.9 39.9 44.9 44.7 42.9 19

 20 Property-casualty insurance companies 0.8 0.9 1.3 2.1 2.2 2.4 2.2 2.4 2.4 2.4 2.3 20

 21 Life insurance companies 43.4 44.9 48.2 50.1 51.9 57.2 54.1 55.9 57.0 57.2 59.7 21

 22 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Finance companies 92.4 103.3 120.7 131.0 141.2 156.5 144.3 151.7 153.2 156.5 156.1 23

 24 REITs 194.5 212.6 221.6 241.1 270.4 299.0 279.7 291.2 305.5 299.0 291.5 24

 25 Brokers and dealers 763.5 795.4 828.2 897.1 962.5 913.2 964.4 939.0 934.9 913.2 952.3 25

 26 Holding companies 190.3 254.3 196.8 210.6 194.2 155.6 191.8 187.6 178.8 155.6 160.3 26

 27 Funding corporations 82.5 31.3 3.0 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 27

 28 Rest of the world 181.6 226.2 267.9 308.3 339.8 363.5 350.5 362.2 361.5 363.5 364.8 28

 29 Total assets 21282.8 21206.8 21464.1 22046.5 22997.5 23775.0 23072.2 23378.8 23503.3 23775.0 23894.3 29

 30 Domestic nonfinancial sectors 1891.5 2018.9 2151.1 2323.7 2504.9 2580.1 2553.1 2548.2 2585.1 2580.1 2659.5 30

 31 Household sector 922.8 917.5 918.8 970.3 1023.3 965.8 1024.1 995.0 991.6 965.8 1001.6 31

 32 Nonfinancial corporate business 72.8 74.5 73.6 70.5 76.3 80.4 76.3 79.2 80.6 80.4 80.0 32

 33 Nonfinancial noncorporate business 42.1 36.3 33.9 34.8 36.5 39.2 37.0 37.7 38.2 39.2 39.7 33

 34 Federal government 649.3 788.4 919.9 1044.3 1159.3 1265.3 1201.7 1218.6 1250.7 1265.3 1302.0 34

 35 State and local governments 204.6 202.3 204.9 203.7 209.5 229.5 213.9 217.7 223.9 229.5 236.1 35

 36 Domestic financial sectors 19229.0 18991.8 19169.1 19583.1 20322.0 21001.0 20341.1 20641.8 20722.9 21001.0 21033.4 36

 37 Monetary authority 98.1 30.5 0.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 U.S.-chartered depository institutions 6829.9 6867.4 7089.5 7241.4 7670.0 8189.9 7722.7 7889.8 7990.8 8189.9 8275.2 38

 39 Foreign banking offices in U.S. 474.3 533.4 520.5 566.2 640.9 719.0 668.5 685.4 696.8 719.0 735.0 39

 40 Banks in U.S.-affiliated areas 51.9 50.5 53.0 51.8 47.4 41.7 43.4 42.6 41.9 41.7 41.2 40

 41 Credit unions 580.3 587.0 615.1 660.1 728.9 804.9 739.4 763.5 787.5 804.9 822.3 41

 42 Property-casualty insurance companies 4.1 4.9 5.6 7.9 9.9 12.3 10.4 10.9 11.5 12.3 13.4 42

 43 Life insurance companies 458.2 481.1 494.8 517.1 546.6 586.4 552.5 560.7 570.6 586.4 590.8 43

 44 Private pension funds 26.5 21.9 23.1 22.4 22.5 21.1 21.9 21.2 20.9 21.1 21.0 44

 45 State and local govt. retirement funds 11.6 11.0 10.0 9.4 9.2 7.3 6.8 7.3 6.8 7.3 7.1 45

 46 Mutual funds 74.6 93.5 105.7 145.1 154.5 138.9 160.4 154.4 141.6 138.9 126.7 46

 47 Government-sponsored enterprises 5572.2 5411.1 5329.2 5465.3 5542.3 5666.3 5509.6 5580.9 5611.4 5666.3 5659.1 47

 48 Agency- and GSE-backed mortgage pools 1146.8 1311.9 1442.7 1573.5 1648.5 1775.5 1646.2 1677.2 1729.5 1775.5 1803.5 48

 49 ABS issuers 2168.8 1921.5 1707.2 1394.6 1305.2 1221.1 1302.9 1291.0 1251.4 1221.1 1155.2 49

 50 Finance companies 1321.3 1274.6 1246.2 1237.5 1243.7 1225.8 1234.7 1232.3 1239.9 1225.8 1197.1 50

 51 REITs 44.6 56.1 64.5 214.7 247.3 216.0 240.7 241.7 230.4 216.0 226.6 51

 52 Brokers and dealers 325.6 293.2 343.3 389.6 428.2 338.1 407.0 415.6 341.3 338.1 318.4 52

 53 Holding companies 18.9 22.9 105.3 75.7 64.8 24.0 62.3 55.1 37.7 24.0 23.2 53

 54 Funding corporations 21.4 19.4 12.9 10.6 12.1 12.9 11.6 12.2 13.1 12.9 17.6 54

 55 Rest of the world 162.3 196.1 143.9 139.7 170.6 193.9 178.0 188.8 195.2 193.9 201.4 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
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L.215 Depository Institution Loans Not Elsewhere Classified (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2039.4 2217.0 2393.8 2590.3 2910.2 3206.4 2988.1 3073.6 3099.6 3206.4 3285.0 1

 2 Household sector 61.0 11.5 62.6 90.8 211.9 325.8 232.5 246.3 268.7 325.8 338.9 2

 3 Corporate business 477.1 629.2 712.1 775.8 868.5 947.3 888.5 910.0 917.0 947.3 975.8 3

 4 Noncorporate business 927.4 900.9 968.0 1000.4 1064.6 1164.0 1086.7 1115.4 1125.0 1164.0 1197.7 4

 5 Domestic financial sectors 411.8 470.1 413.4 446.6 460.0 441.3 464.8 475.3 463.8 441.3 443.3 5

 6 Finance companies 91.5 102.1 118.5 128.6 139.1 152.9 142.2 149.6 150.4 152.9 152.4 6

 7 REITs 18.4 23.0 27.0 25.9 33.1 40.3 37.0 42.7 44.4 40.3 38.8 7

 8 Brokers and dealers 38.2 69.2 71.1 81.6 93.5 92.5 93.9 95.4 90.2 92.5 91.7 8

 9 Holding companies 190.3 254.3 196.8 210.6 194.2 155.6 191.8 187.6 178.8 155.6 160.3 9

 10 Funding corporations 73.4 21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world 162.0 205.2 237.7 276.7 305.3 328.0 315.5 326.6 325.1 328.0 329.4 11

 12 Foreign official institutions 6.6 5.4 6.2 7.1 8.2 9.5 9.2 8.5 8.8 9.5 8.2 12

 13 Foreign banks 53.0 69.8 70.4 90.5 89.8 91.0 91.3 91.2 92.1 91.0 82.7 13

 14 Other foreign 102.4 130.0 161.0 179.1 207.3 227.5 215.0 226.8 224.1 227.5 238.5 14

 15 Total assets 2039.4 2217.0 2393.8 2590.3 2910.2 3206.4 2988.1 3073.6 3099.6 3206.4 3285.0 15

 16 Monetary authority (2) 98.1 30.5 0.6 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 U.S.-chartered depository institutions 1449.5 1625.3 1842.0 1986.4 2236.2 2465.3 2286.8 2360.0 2377.9 2465.3 2529.2 17

 18 Foreign banking offices in U.S. 438.9 500.6 489.6 535.9 603.3 667.6 631.1 644.4 650.1 667.6 679.0 18

 19 Banks in U.S.-affiliated areas 16.1 17.1 18.1 19.4 17.1 15.1 15.6 15.5 15.1 15.1 14.6 19

 20 Credit unions 36.9 43.5 43.6 48.7 53.7 58.3 54.6 53.7 56.4 58.3 62.2 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to the household, rest of the world, broker and dealer, and funding corporation sectors. See loan details on table L.109.
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L.216 Other Loans and Advances

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total other loans and advances 2765.7 2732.1 2880.0 3088.5 3323.9 3240.8 3298.7 3332.4 3233.0 3240.8 3219.0 1

 2 U.S. government loans 178.5 183.3 185.7 193.0 195.5 198.8 196.1 199.0 196.9 198.8 198.2 2

 3 Liab.: Household sector 11.6 11.2 11.0 12.1 13.3 15.6 13.6 14.2 14.8 15.6 15.8 3

 4 Nonfinancial corporate business 70.6 70.1 75.3 76.2 74.7 75.3 74.4 76.1 74.8 75.3 74.8 4

 5 Nonfinancial noncorporate business 53.0 55.9 56.5 58.5 57.3 54.1 57.1 56.4 54.3 54.1 53.7 5

 6 State and local governments 14.4 15.3 15.7 16.2 16.6 16.9 16.7 16.7 16.7 16.9 17.1 6

 7 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 9.2 9.8 3.0 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 9

 10 Rest of the world 19.6 21.0 24.2 27.6 31.2 34.7 32.0 33.2 34.1 34.7 34.4 10

 11 Foreign loans to U.S. corporate business 162.3 196.1 143.9 139.7 170.6 193.9 178.0 188.8 195.2 193.9 201.4 11

 12 Liab.: Nonfinancial corporate business 162.3 196.1 143.9 139.7 170.6 193.9 178.0 188.8 195.2 193.9 201.4 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans 18.9 22.9 105.3 75.7 64.8 24.0 62.3 55.1 37.7 24.0 23.2 17

 18 Liab.: Nonfinancial corporate business 18.9 22.9 99.3 71.7 61.6 23.1 59.3 52.6 35.3 23.1 22.3 18

 19 Rest of the world 0.0 0.0 6.1 4.0 3.2 0.9 3.0 2.5 2.4 0.9 0.9 19

 20 Policy loans (Household liability) 124.5 126.9 128.3 129.2 130.8 132.4 131.1 131.5 132.3 132.4 131.9 20

 21 Asset: Federal government 0.5 0.5 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 21

 22 Life insurance companies 124.0 126.5 127.8 128.8 130.5 132.1 130.8 131.2 132.0 132.1 131.6 22

 23 Federal Home Loan Banks advances (1) 464.0 403.3 413.6 492.6 565.7 631.2 536.6 588.2 586.2 631.2 613.8 23

 24 Liab.: U.S.-chartered depository institutions 392.8 332.1 336.7 410.1 468.2 499.6 436.0 478.1 460.2 499.6 485.5 24

 25 Credit unions 26.1 24.2 25.1 27.0 35.4 44.7 34.9 39.9 44.9 44.7 42.9 25

 26 Property-casualty insurance companies 0.8 0.9 1.3 2.1 2.2 2.4 2.2 2.4 2.4 2.4 2.3 26

 27 Life insurance companies 43.4 44.9 48.2 50.1 51.9 57.2 54.1 55.9 57.0 57.2 59.7 27

 28 Finance companies 0.9 1.3 2.1 2.3 2.1 3.7 2.1 2.1 2.9 3.7 3.7 28

 29 Real estate investment trusts 0.0 0.0 0.3 1.0 5.9 23.8 7.2 9.7 18.9 23.8 19.7 29

 30 Government-sponsored enterprise (GSE) loans (2) 87.3 83.8 92.1 95.0 106.1 115.0 105.0 106.6 110.3 115.0 116.3 30

 31 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Nonfinancial corporate business (FCS) 6.8 5.9 6.7 6.9 8.5 9.6 9.1 8.7 9.0 9.6 10.6 32

 33 Nonfinancial noncorporate business (FCS) 80.5 77.8 85.3 88.0 97.6 105.4 95.9 97.8 101.3 105.4 105.7 33

 34 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Securitized loans held by ABS issuers 4.0 0.1 1.8 1.9 0.0 0.0 0.0 0.0 0.0 0.0 0.2 35

 36 Liab.: Nonfinancial corporate business 4.0 0.1 1.8 1.9 0.0 0.0 0.0 0.0 0.0 0.0 0.2 36

 37 Finance company loans to business 372.7 375.8 387.0 401.3 411.5 425.1 412.3 416.3 422.8 425.1 410.3 37

 38 Liab.: Nonfinancial corporate business 335.5 338.2 348.3 361.2 370.4 382.6 371.1 374.6 380.5 382.6 369.3 38

 39 Nonfinancial noncorporate business 37.3 37.6 38.7 40.1 41.2 42.5 41.2 41.6 42.3 42.5 41.0 39

 40 Margin accounts at brokers and dealers 278.2 238.9 303.7 339.2 369.5 289.4 354.3 364.4 289.4 289.4 265.7 40

 41 Liab.: Household sector 278.2 238.9 303.7 339.2 369.5 289.4 354.3 364.4 289.4 289.4 265.7 41

 42 Cash accounts at brokers and dealers 725.2 726.1 757.0 815.5 869.0 820.6 870.5 843.6 844.6 820.6 860.6 42

 43 Asset: Household sector 725.2 726.1 757.0 815.5 869.0 820.6 870.5 843.6 844.6 820.6 860.6 43

 44 Loans to nonfinancial corporate business (3) 350.2 375.1 361.6 405.4 440.2 410.4 452.5 439.1 417.5 410.4 397.3 44

 45 Asset: Household sector 26.2 23.4 20.9 25.9 24.3 22.0 25.1 24.2 21.6 22.0 21.4 45

 46 Life insurance companies 16.7 22.2 22.6 25.1 31.4 29.6 32.1 30.1 29.9 29.6 29.1 46

 47 Mutual funds 74.6 93.5 105.7 145.1 154.5 138.9 160.4 154.4 141.6 138.9 126.7 47

 48 ABS issuers 163.8 162.3 160.0 148.3 159.3 158.3 170.6 167.0 159.2 158.3 149.8 48

 49 Brokers and dealers 47.4 54.3 39.6 50.4 58.6 48.7 52.6 51.2 51.8 48.7 52.7 49

 50 Funding corporations 21.4 19.4 12.9 10.6 12.1 12.9 11.6 12.2 13.1 12.9 17.6 50

(1) The Federal Home Loan Banks are included in the governmnet-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 23.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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L.217 Total Mortgages (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total mortgages 13830.5 13499.4 13269.9 13271.5 13445.5 13793.2 13462.6 13575.0 13689.3 13793.2 13848.4 1

 2 Home 10452.7 10206.9 9976.5 9882.4 9887.4 9989.3 9858.4 9905.4 9962.6 9989.3 10008.8 2

 3 Multifamily residential 857.7 857.4 888.0 923.3 986.6 1091.7 1007.5 1032.6 1055.1 1091.7 1111.1 3

 4 Commercial 2366.0 2267.9 2232.2 2281.0 2375.1 2507.1 2398.3 2436.3 2468.7 2507.1 2522.8 4

 5 Farm 154.1 167.2 173.2 184.8 196.3 205.1 198.5 200.7 202.9 205.1 205.6 5

 6 Total liabilities 13830.5 13499.4 13269.9 13271.5 13445.5 13793.2 13462.6 13575.0 13689.3 13793.2 13848.4 6

 7 Household sector 10128.8 9903.0 9689.7 9606.5 9613.7 9714.3 9585.7 9631.8 9687.6 9714.3 9732.3 7

 8 Nonfinancial business 3525.6 3406.8 3385.8 3450.8 3600.3 3844.0 3641.5 3704.3 3759.5 3844.0 3883.2 8

 9 Corporate 672.9 592.5 477.0 475.8 496.6 535.5 506.1 514.3 518.7 535.5 538.1 9

 10 Noncorporate 2852.7 2814.3 2908.8 2975.0 3103.8 3308.5 3135.4 3190.0 3240.8 3308.5 3345.0 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 176.1 189.5 194.4 214.3 231.4 234.9 235.5 238.8 242.3 234.9 232.9 12

 13 Total assets 13830.5 13499.4 13269.9 13271.5 13445.5 13793.2 13462.6 13575.0 13689.3 13793.2 13848.4 13

 14 Household sector 100.1 100.9 82.8 77.1 82.5 79.0 81.6 81.1 79.8 79.0 76.9 14

 15 Nonfinancial corporate business 28.0 27.4 25.5 27.1 31.9 36.8 33.2 34.4 35.6 36.8 38.0 15

 16 Nonfinancial noncorporate business 42.1 36.3 33.9 34.8 36.5 39.2 37.0 37.7 38.2 39.2 39.7 16

 17 Federal government 106.6 109.9 111.5 115.5 117.2 116.5 118.1 117.9 116.9 116.5 117.4 17

 18 State and local governments 204.6 202.3 204.9 203.7 209.5 229.5 213.9 217.7 223.9 229.5 236.1 18

 19 U.S.-chartered depository institutions 4194.9 4049.6 4028.8 3983.5 4090.7 4296.3 4123.8 4180.2 4229.2 4296.3 4340.2 19

 20 Foreign banking offices in U.S. 35.4 32.8 30.9 30.3 37.6 51.3 37.4 41.0 46.6 51.3 56.0 20

 21 Banks in U.S.-affiliated areas 35.8 33.4 34.9 32.4 30.4 26.6 27.8 27.1 26.8 26.6 26.6 21

 22 Credit unions 317.0 320.5 327.8 345.9 372.5 404.9 377.1 387.1 397.7 404.9 409.5 22

 23 Property-casualty insurance companies 4.1 4.9 5.6 7.9 9.9 12.3 10.4 10.9 11.5 12.3 13.4 23

 24 Life insurance companies 317.5 332.5 344.4 363.2 384.8 424.7 389.7 399.5 408.6 424.7 430.1 24

 25 Private pension funds 26.5 21.9 23.1 22.4 22.5 21.1 21.9 21.2 20.9 21.1 21.0 25

 26 State and local govt. retirement funds 11.6 11.0 10.0 9.4 9.2 7.3 6.8 7.3 6.8 7.3 7.1 26

 27 Government-sponsored enterprises (1) 5021.0 4924.0 4823.5 4877.8 4870.5 4920.1 4868.0 4886.2 4914.8 4920.1 4929.0 27

 28 Agency- and GSE-backed mortgage pools 1146.8 1311.9 1442.7 1573.5 1648.5 1775.5 1646.2 1677.2 1729.5 1775.5 1803.5 28

 29 ABS issuers 1950.6 1712.9 1495.5 1195.3 1096.0 1016.7 1084.1 1072.7 1044.1 1016.7 960.3 29

 30 Finance companies 243.5 211.2 179.5 157.0 148.1 119.5 144.9 134.0 127.9 119.5 116.9 30

 31 REITs 44.6 56.1 64.5 214.7 247.3 216.0 240.7 241.7 230.4 216.0 226.6 31

(1) Sum of home mortgages, multifamily residential mortgages, commercial mortgages, and farm mortgages.
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L.218 Home Mortgages (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 10452.7 10206.9 9976.5 9882.4 9887.4 9989.3 9858.4 9905.4 9962.6 9989.3 10008.8 1

 2 Household sector 9921.5 9701.9 9490.7 9403.8 9403.6 9493.8 9374.2 9417.3 9470.3 9493.8 9510.6 2

 3 Nonfinancial corporate business 13.6 10.2 9.7 10.0 11.5 13.4 12.0 12.5 12.9 13.4 13.9 3

 4 Nonfinancial noncorporate business 517.6 494.8 476.0 468.6 472.3 482.1 472.1 475.6 479.4 482.1 484.3 4

 5 Total assets 10452.7 10206.9 9976.5 9882.4 9887.4 9989.3 9858.4 9905.4 9962.6 9989.3 10008.8 5

 6 Household sector 75.2 67.2 59.2 51.2 43.2 35.2 41.2 39.2 37.2 35.2 33.2 6

 7 Nonfinancial corporate business 16.8 16.4 15.3 16.2 20.5 24.7 21.5 22.6 23.7 24.7 25.8 7

 8 Nonfinancial noncorporate business 15.4 13.3 12.4 12.8 13.4 14.4 13.6 13.8 14.0 14.4 14.6 8

 9 Federal government 23.9 24.0 25.2 25.6 26.8 28.4 27.7 28.1 28.6 28.4 28.9 9

 10 State and local governments 105.3 104.2 105.5 104.9 107.9 118.2 110.2 112.1 115.3 118.2 121.6 10

 11 U.S.-chartered depository institutions 2615.6 2538.0 2503.6 2385.7 2401.8 2449.3 2407.8 2432.8 2434.0 2449.3 2458.7 11

 12 Foreign banking offices in U.S. 1.1 1.3 1.8 1.4 2.9 1.5 2.8 2.8 2.6 1.5 1.4 12

 13 Banks in U.S.-affiliated areas 20.1 17.8 20.0 18.9 17.4 15.8 16.5 16.3 16.1 15.8 15.7 13

 14 Credit unions 317.0 320.5 327.8 345.9 372.5 404.9 377.1 387.1 397.7 404.9 409.5 14

 15 Life insurance companies 9.0 9.0 11.0 11.3 13.7 17.7 13.8 14.8 15.9 17.7 18.0 15

 16 Private pension funds 1.9 1.6 1.6 1.4 1.4 1.2 1.3 1.3 1.3 1.2 1.2 16

 17 State and local govt. retirement funds 4.2 4.0 3.6 3.4 3.3 2.6 2.4 2.6 2.4 2.6 2.4 17

 18 Government-sponsored enterprises 4690.7 4587.7 4475.6 4546.4 4537.9 4568.7 4528.3 4540.2 4568.4 4568.7 4574.7 18

 19 Agency- and GSE-backed mortgage pools 1075.0 1222.9 1326.6 1423.9 1474.8 1568.8 1468.9 1491.1 1536.5 1568.8 1587.7 19

 20 ABS issuers 1303.0 1109.5 928.3 787.3 701.6 602.1 681.2 654.7 626.8 602.1 580.0 20

 21 Finance companies 169.5 149.7 132.6 114.7 104.6 89.8 101.1 96.6 92.9 89.8 87.9 21

 22 REITs 9.0 19.8 26.5 31.3 44.0 46.1 43.0 49.2 49.3 46.1 47.6 22

 Memo:

 23 Home equity loans included above (2) 928.5 853.5 769.6 703.3 673.0 634.9 660.7 652.7 643.2 634.9 625.3 23

 24 U.S.-chartered depository institutions 783.3 723.1 652.7 596.2 568.2 532.9 557.5 550.0 541.1 532.9 523.4 24

 25 Foreign banking offices in U.S. 0.3 0.3 0.2 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.3 25

 26 Credit unions 88.2 82.2 75.7 72.0 73.6 75.7 73.2 74.1 74.8 75.7 76.5 26

 27 ABS issuers 22.8 18.0 14.5 11.8 9.9 8.0 9.4 8.9 8.4 8.0 7.5 27

 28 Finance companies 33.9 29.9 26.5 22.9 20.9 18.0 20.2 19.3 18.6 18.0 17.6 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

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

 1 Total liabilities 857.7 857.4 888.0 923.3 986.6 1091.7 1007.5 1032.6 1055.1 1091.7 1111.1 1

 2 Nonfinancial corporate business 41.5 41.5 43.1 44.7 47.8 53.1 48.8 50.0 51.2 53.1 54.0 2

 3 Nonfinancial noncorporate business 788.5 788.1 818.3 849.0 907.8 1008.4 926.9 950.0 972.3 1008.4 1026.9 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 27.8 27.9 26.7 29.7 31.1 30.2 31.8 32.6 31.6 30.2 30.2 5

 6 Total assets 857.7 857.4 888.0 923.3 986.6 1091.7 1007.5 1032.6 1055.1 1091.7 1111.1 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 0.4 0.4 0.4 0.4 0.4 0.5 0.4 0.5 0.5 0.5 0.5 8

 9 Nonfinancial noncorporate business 14.3 12.3 11.5 11.8 12.4 13.3 12.5 12.8 13.0 13.3 13.5 9

 10 Federal government 14.4 14.1 13.7 13.8 13.2 12.8 13.1 13.0 12.8 12.8 12.8 10

 11 State and local governments 81.8 80.9 82.0 81.5 83.8 91.8 85.6 87.1 89.6 91.8 94.5 11

 12 U.S.-chartered depository institutions 254.9 248.3 258.5 287.9 325.9 376.9 334.9 345.8 360.9 376.9 386.0 12

 13 Foreign banking offices in U.S. 3.5 2.9 1.4 1.1 1.3 2.4 1.4 1.6 2.2 2.4 2.6 13

 14 Life insurance companies 47.2 49.4 51.1 53.6 56.4 60.6 57.0 58.2 59.4 60.6 62.5 14

 15 Private pension funds 3.1 2.9 2.5 2.2 2.1 1.9 2.1 2.0 1.9 1.9 1.8 15

 16 State and local govt. retirement funds 3.5 3.3 3.0 2.8 2.8 2.2 2.0 2.2 2.0 2.2 2.1 16

 17 Government-sponsored enterprises 256.5 259.2 265.5 243.5 240.8 256.9 247.1 252.8 252.8 256.9 259.1 17

 18 Agency- and GSE-backed mortgage pools 68.1 87.3 114.2 147.8 172.1 204.3 175.7 184.6 190.6 204.3 213.4 18

 19 ABS issuers 102.9 91.0 79.6 70.8 68.4 62.3 68.8 66.2 63.5 62.3 56.5 19

 20 Finance companies 5.1 3.6 2.8 2.0 2.0 1.2 2.1 1.3 1.3 1.2 1.2 20

 21 REITs 2.0 1.7 1.9 4.1 5.1 4.6 4.7 4.6 4.6 4.6 4.7 21
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L.220 Commercial Mortgages

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2366.0 2267.9 2232.2 2281.0 2375.1 2507.1 2398.3 2436.3 2468.7 2507.1 2522.8 1

 2 Household sector 207.3 201.1 198.9 202.7 210.1 220.5 211.4 214.5 217.2 220.5 221.7 2

 3 Nonfinancial corporate business 582.3 500.8 381.3 374.1 386.3 415.2 393.6 399.4 401.4 415.2 416.0 3

 4 Nonfinancial noncorporate business 1428.1 1404.3 1484.3 1519.7 1578.3 1666.7 1589.6 1616.2 1639.3 1666.7 1682.3 4

 5 REITs 148.3 161.7 167.7 184.6 200.4 204.7 203.7 206.2 210.7 204.7 202.7 5

 6 Total assets 2366.0 2267.9 2232.2 2281.0 2375.1 2507.1 2398.3 2436.3 2468.7 2507.1 2522.8 6

 7 Household sector 18.1 17.5 17.2 17.6 19.0 21.2 19.5 20.0 20.6 21.2 21.9 7

 8 Nonfinancial corporate business 10.8 10.6 9.8 10.4 11.0 11.6 11.2 11.3 11.5 11.6 11.8 8

 9 Nonfinancial noncorporate business 11.5 10.0 9.3 9.6 10.0 10.8 10.2 10.4 10.5 10.8 10.9 9

 10 Federal government 64.1 67.2 68.0 71.9 72.1 69.3 71.9 71.3 69.8 69.3 69.7 10

 11 State and local governments 16.4 16.2 16.4 16.3 16.8 18.4 17.1 17.4 17.9 18.4 18.9 11

 12 U.S.-chartered depository institutions 1273.2 1210.3 1202.2 1241.0 1301.1 1406.3 1318.7 1338.7 1371.0 1406.3 1431.3 12

 13 Foreign banking offices in U.S. 30.8 28.5 27.6 27.8 33.2 47.2 33.1 36.4 41.7 47.2 51.8 13

 14 Banks in U.S.-affiliated areas 15.7 15.6 14.9 13.5 13.0 10.8 11.3 10.8 10.8 10.8 10.9 14

 15 Property-casualty insurance companies 4.1 4.9 5.6 7.9 9.9 12.3 10.4 10.9 11.5 12.3 13.4 15

 16 Life insurance companies 248.8 261.1 270.9 286.3 301.2 332.6 305.3 312.8 319.5 332.6 335.8 16

 17 Private pension funds 21.4 17.4 19.0 18.8 19.0 17.9 18.5 17.9 17.7 17.9 18.0 17

 18 State and local govt. retirement funds 3.9 3.7 3.4 3.2 3.1 2.5 2.3 2.5 2.3 2.5 2.6 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers 544.7 512.5 487.6 337.1 326.1 352.4 334.1 351.9 353.8 352.4 323.8 20

 21 Finance companies 68.9 57.9 44.1 40.3 41.4 28.5 41.7 36.2 33.8 28.5 27.8 21

 22 REITs 33.7 34.6 36.1 179.3 198.2 165.3 193.1 187.9 176.5 165.3 174.3 22

L.221 Farm Mortgages (1)

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

 1 Total liabilities 154.1 167.2 173.2 184.8 196.3 205.1 198.5 200.7 202.9 205.1 205.6 1

 2 Nonfinancial corporate business 35.5 40.0 43.0 47.1 50.9 53.8 51.7 52.5 53.1 53.8 54.1 2

 3 Nonfinancial noncorporate business 118.6 127.2 130.2 137.7 145.4 151.3 146.8 148.2 149.7 151.3 151.5 3

 4 Total assets 154.1 167.2 173.2 184.8 196.3 205.1 198.5 200.7 202.9 205.1 205.6 4

 5 Household sector 6.8 16.3 6.5 8.3 20.3 22.6 21.0 21.9 22.1 22.6 21.8 5

 6 Nonfinancial noncorporate business 0.8 0.7 0.7 0.7 0.7 0.8 0.7 0.8 0.8 0.8 0.8 6

 7 Federal government 4.3 4.5 4.6 4.2 5.2 5.9 5.4 5.5 5.7 5.9 6.0 7

 8 State and local governments 1.0 1.0 1.0 1.0 1.0 1.1 1.1 1.1 1.1 1.1 1.2 8

 9 U.S.-chartered depository institutions 51.2 52.9 64.5 68.9 62.0 63.8 62.4 62.8 63.3 63.8 64.2 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.2 0.2 0.2 0.2 0.2 0.2 0.2 10

 11 Life insurance companies 12.4 13.0 11.5 12.0 13.4 13.8 13.5 13.6 13.7 13.8 13.9 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 73.8 77.1 82.5 87.9 91.8 94.5 92.6 93.2 93.7 94.5 95.2 13

 14 Agency- and GSE-backed mortgage pools 3.8 1.7 1.9 1.8 1.6 2.3 1.6 1.6 2.4 2.3 2.3 14

(1) Excludes mortgages on farm houses.
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L.222 Consumer Credit

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities (Households) 2647.2 2758.3 2920.4 3096.2 3318.0 3534.6 3322.8 3397.8 3481.4 3534.6 3542.0 1

 2 Total assets 2647.2 2758.3 2920.4 3096.2 3318.0 3534.6 3322.8 3397.8 3481.4 3534.6 3542.0 2

 3 Households (nonprofit organizations) (1) 71.3 67.1 58.0 51.8 47.6 44.2 46.8 46.1 45.5 44.2 42.8 3

 4 Nonfinancial corporate business 44.8 47.1 48.0 43.4 44.4 43.6 43.2 44.8 45.0 43.6 42.0 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 363.8 494.8 622.2 735.5 846.2 949.7 887.3 901.4 936.5 949.7 986.2 6

 7 U.S.-chartered depository institutions 1185.5 1192.6 1218.6 1271.6 1343.1 1428.3 1312.1 1349.6 1383.6 1428.3 1405.8 7

 8 Credit unions 226.5 223.0 243.6 265.6 302.8 341.7 307.7 322.7 333.4 341.7 350.6 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers 50.3 46.2 50.0 49.1 49.8 46.0 48.2 51.2 48.0 46.0 44.8 10

 11 Finance companies 705.0 687.6 679.8 679.1 684.1 681.1 677.5 682.1 689.3 681.1 669.9 11

 Memo:

 12 Credit card loans (3) 839.4 841.5 845.7 857.7 891.5 937.9 849.5 875.7 891.3 937.9 903.4 12

 13 Auto loans 713.5 751.2 809.2 878.8 957.9 1038.3 972.2 998.4 1030.1 1038.3 1051.3 13

 14 Student loans (4) 855.7 961.0 1055.2 1146.5 1236.0 1319.2 1271.8 1278.3 1310.9 1319.2 1350.9 14

 15 Other consumer credit (5) 238.6 204.5 210.2 213.3 232.6 239.3 229.3 245.4 249.0 239.3 236.3 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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L.223 Corporate Equities (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Issues at market value 23236.6 22442.0 25847.6 33527.9 36757.8 35766.8 37684.5 37546.7 34228.2 35766.8 35495.6 1

 2 Domestic sectors 18336.4 17940.5 20525.8 27055.0 30038.1 29013.6 30566.5 30260.8 27690.5 29013.6 28761.8 2

 3 Nonfinancial corporate business 13996.1 13888.1 15578.8 20593.0 22716.8 21727.0 23108.6 22745.9 20699.2 21727.0 21685.7 3

 4 Publicly traded (2) 11686.4 11547.4 12898.9 16890.9 18684.7 17731.8 18754.2 18506.3 16856.7 17731.8 17767.4 4

 5 Closely held 2309.7 2340.7 2680.0 3702.0 4032.1 3995.2 4354.4 4239.6 3842.5 3995.2 3918.3 5

 6 Financial corporations 4340.2 4052.4 4947.0 6462.0 7321.3 7286.6 7457.9 7514.9 6991.3 7286.6 7076.1 6

 7 Publicly traded (3) 4042.6 3781.3 4627.3 6052.2 6861.0 6830.5 6960.9 7031.0 6552.7 6830.5 6628.9 7

 8 Closely held 297.6 271.1 319.7 409.8 460.3 456.0 497.0 483.9 438.6 456.0 447.3 8

 9 Rest of the world (4) 4900.2 4501.4 5321.9 6472.9 6719.7 6753.2 7118.0 7285.9 6537.7 6753.2 6733.8 9

 10 Holdings at market value 23236.6 22442.0 25847.6 33527.9 36757.8 35766.8 37684.5 37546.7 34228.2 35766.8 35495.6 10

 11 Household sector 8694.4 8295.0 9669.9 12851.9 14203.3 13994.9 14729.8 14611.9 13256.1 13994.9 13851.6 11

 12 Federal government 49.9 57.8 39.9 35.1 33.4 33.4 33.3 33.5 33.4 33.4 33.4 12

 13 State and local governments 126.9 124.8 138.1 162.2 173.6 181.4 176.7 178.0 173.5 181.4 184.6 13

 14 Monetary authority 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions 73.6 67.4 71.3 101.3 108.5 99.9 109.0 108.1 93.5 99.9 93.6 15

 16 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 0.0 16

 17 Property-casualty insurance companies 214.8 220.8 252.2 310.4 325.4 316.8 320.4 317.0 303.0 316.8 316.2 17

 18 Life insurance companies 222.2 236.1 255.1 298.5 316.5 306.2 320.1 320.0 296.4 306.2 310.4 18

 19 Private pension funds 1778.1 1680.4 1890.7 2243.8 2370.2 2252.4 2397.8 2377.6 2169.8 2252.4 2222.8 19

 20 Federal government retirement funds 140.9 134.4 148.1 206.2 218.7 219.0 226.3 225.9 206.2 219.0 216.6 20

 21 State and local govt. retirement funds 1728.8 1655.3 1811.4 2173.0 2282.7 2144.9 2315.5 2294.1 2100.7 2144.9 2112.5 21

 22 Mutual funds 5872.7 5510.0 6297.4 8227.3 8799.2 8625.3 9061.6 9118.1 8282.6 8625.3 8584.3 22

 23 Closed-end funds 96.7 95.9 100.6 114.2 119.3 99.6 118.6 115.9 101.3 99.6 97.5 23

 24 Exchange-traded funds 854.1 863.8 1093.3 1427.3 1675.0 1756.4 1741.5 1764.8 1618.9 1756.4 1771.0 24

 25 Brokers and dealers 117.2 103.2 126.7 172.4 187.8 166.8 162.9 164.2 143.3 166.8 136.8 25

 26 Funding corporations 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Rest of the world (5) 3213.5 3397.2 3953.0 5204.4 5944.2 5569.7 5971.1 5917.6 5449.6 5569.7 5564.4 27

 Memo:

 28 Publicly traded equity at market value (6) 15729.0 15328.8 17526.2 22943.2 25545.7 24562.4 25715.1 25537.3 23409.3 24562.4 24396.2 28

 29 Closely held equity at market value (7) 2607.3 2611.8 2999.6 4111.8 4492.4 4451.2 4851.5 4723.6 4281.2 4451.2 4365.6 29

 30 S corporations 1754.1 1802.4 2060.2 2602.5 2998.5 2827.2 3118.1 3121.1 2739.6 2827.2 2772.8 30

 31 C corporations 853.2 809.4 939.4 1509.3 1493.9 1624.0 1733.3 1602.5 1541.6 1624.0 1592.8 31

 32 Percent change in Dow Jones U.S. Total Market Index (8) 15.3 -0.9 13.9 30.9 10.4 -1.5 1.3 -0.4 -7.7 5.7 0.4 32

(1) Excludes mutual fund shares shown on table L.224.

(2) Excludes intercorporate holdings.

(3) Includes corporate equities issued by financial corporations under the federal financial stabilization programs.

(4) Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(5) Holdings of U.S. issues by foreign residents.

(6) Equal to the sum of lines 4 and 7.

(7) Equal to the sum of lines 5 and 8.

(8) Annual figures calculated from year-end to year-end.

L.224 Mutual Fund Shares (1)

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

 1 Shares at market value 9029.8 8941.4 10363.5 12333.0 13150.6 12897.2 13519.9 13533.6 12605.7 12897.2 12962.1 1

 2 Holdings at market value 9029.8 8941.4 10363.5 12333.0 13150.6 12897.2 13519.9 13533.6 12605.7 12897.2 12962.1 2

 3 Household sector 4476.7 4435.2 5254.7 6250.5 6672.4 6556.5 6904.4 6906.3 6438.8 6556.5 6609.7 3

 4 Nonfinancial corporate business 186.8 165.9 179.6 211.0 234.5 235.7 241.1 242.1 228.3 235.7 236.9 4

 5 State and local governments 58.7 59.1 66.0 78.4 84.3 88.2 85.9 86.5 84.2 88.2 89.9 5

 6 U.S.-chartered depository institutions 45.0 41.7 45.8 57.9 59.7 54.9 59.4 59.9 53.5 54.9 56.3 6

 7 Credit unions 1.5 1.9 2.3 2.2 2.1 1.9 2.0 2.1 2.1 1.9 1.9 7

 8 Property-casualty insurance companies 10.2 9.1 11.8 14.8 16.8 17.4 17.5 17.7 16.8 17.4 17.7 8

 9 Life insurance companies 1299.5 1267.7 1417.3 1652.9 1702.7 1634.7 1731.3 1715.5 1592.1 1634.7 1625.5 9

 10 Private pension funds 2219.4 2203.6 2483.5 3008.0 3253.8 3235.3 3309.6 3327.2 3124.1 3235.3 3246.2 10

 11 State and local govt. retirement funds 469.5 387.0 407.1 505.3 516.5 486.0 522.8 513.7 471.0 486.0 485.9 11

 12 Rest of the world 262.5 370.4 495.4 552.0 607.8 586.5 646.0 662.5 595.0 586.5 592.0 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds and exchange-traded funds.
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L.225 Trade Credit

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total trade payables 3370.8 3499.4 3631.8 3822.8 4004.3 4089.5 4023.8 4083.3 4088.0 4089.5 4087.6 1

 2 Household sector 248.8 250.0 254.0 255.0 258.1 259.4 258.5 258.9 259.2 259.4 259.4 2

 3 Nonfinancial corporate business 1746.4 1771.6 1837.0 1938.3 2047.0 2021.1 2040.7 2062.2 2040.9 2021.1 1987.6 3

 4 Nonfinancial noncorporate business 427.8 482.7 493.5 527.5 562.3 613.8 577.0 589.7 598.5 613.8 625.5 4

 5 Federal government 209.7 218.5 231.9 250.6 250.5 262.7 252.8 262.7 268.1 262.7 271.2 5

 6 State and local governments 669.0 707.4 745.5 783.4 822.2 861.2 831.7 841.5 851.4 861.2 871.0 6

 7 Brokers and dealers 18.1 14.3 14.2 14.5 17.9 26.3 19.2 23.6 24.2 26.3 25.3 7

 8 Rest of the world 51.1 55.1 55.7 53.4 46.2 45.1 44.0 44.7 45.7 45.1 47.7 8

 9 Total trade receivables 3133.1 3304.2 3379.3 3708.6 3830.0 3891.5 3899.3 3966.1 3966.8 3891.5 3951.9 9

 10 Nonfinancial corporate business 2157.2 2240.7 2293.2 2554.8 2625.6 2613.2 2676.0 2717.8 2702.6 2613.2 2655.2 10

 11 Nonfinancial noncorporate business 533.4 594.4 598.9 647.8 678.2 728.0 687.9 701.2 710.8 728.0 738.3 11

 12 Federal government 42.9 47.7 50.3 53.6 48.4 48.2 50.2 50.5 49.7 48.2 50.9 12

 13 State and local governments 152.2 157.8 163.1 172.6 182.7 184.3 182.8 185.2 184.3 184.3 183.8 13

 14 Property-casualty insurance companies 83.8 87.2 92.0 95.2 100.8 106.8 106.1 109.3 110.7 106.8 111.0 14

 15 ABS issuers 51.8 47.6 41.2 35.7 31.3 34.1 31.5 32.2 31.7 34.1 35.5 15

 16 Rest of the world 111.8 128.8 140.5 148.8 162.9 176.9 164.9 169.8 176.9 176.9 177.1 16

 17 Discrepancy 237.7 195.3 252.5 114.2 174.3 198.0 124.5 117.2 121.2 198.0 135.8 17

L.226 Life Insurance Reserves

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

 1 Total liabilities 1278.6 1352.3 1359.3 1416.8 1477.4 1515.8 1496.9 1503.9 1500.8 1515.8 1531.8 1

 2 Federal government 48.7 50.0 50.3 50.5 51.3 51.1 50.7 51.0 50.8 51.1 51.1 2

 3 Life insurance companies 1229.9 1302.3 1309.0 1366.3 1426.1 1464.6 1446.2 1452.9 1450.0 1464.6 1480.8 3

 4 Net change in assets 1278.6 1352.3 1359.3 1416.8 1477.4 1515.8 1496.9 1503.9 1500.8 1515.8 1531.8 4

 5 Households 1137.5 1199.3 1186.4 1233.0 1282.8 1310.6 1300.0 1303.8 1298.3 1310.6 1324.3 5

 6 U.S.-chartered depository institutions 116.0 125.5 138.0 143.8 149.6 156.2 150.9 153.1 154.5 156.2 157.6 6

 7 Holding companies 25.1 27.6 34.9 39.9 45.0 49.0 46.0 47.0 48.0 49.0 50.0 7
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L.227 Pension Entitlements

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 16873.8 17298.8 18334.7 19783.8 20587.3 20945.5 20795.0 20904.3 20594.5 20945.5 21080.2 1

 2 Life insurance companies (1) 2198.7 2247.9 2433.0 2705.9 2820.5 2837.6 2843.6 2853.6 2783.7 2837.6 2862.6 2

 3 Private pension funds (2) 6635.9 6749.9 7276.2 8097.6 8503.3 8570.9 8605.5 8636.7 8374.5 8570.9 8610.8 3

 4 Federal government retirement funds (3) 3156.4 3261.1 3378.6 3533.0 3651.9 3757.5 3683.3 3708.9 3715.5 3757.5 3783.5 4

 5 State and local govt. retirement funds 4882.8 5039.9 5246.9 5447.3 5611.6 5779.6 5662.5 5705.1 5720.8 5779.6 5823.3 5

 6 Total assets (Households) (4) 16873.8 17298.8 18334.7 19783.8 20587.3 20945.5 20795.0 20904.3 20594.5 20945.5 21080.2 6

 Memo:

 7 Individual Retirement Accounts (IRAs): (5) 5029.0 5153.0 5785.0 6835.0 7266.0 7329.0 7445.0 7504.0 7133.0 7329.0 ND 7

 8 U.S.-chartered depository institutions 383.3 403.6 428.0 427.6 427.8 445.8 419.2 428.0 442.3 445.8 ND 8

 9 Credit unions 77.2 78.4 79.9 79.2 77.6 77.4 77.4 77.3 77.4 77.4 ND 9

 10 Life insurance companies 454.0 470.0 505.0 538.0 566.0 579.0 578.0 578.0 563.0 579.0 ND 10

 11 Money market mutual funds 201.0 210.0 215.0 228.0 218.0 215.0 211.0 213.0 221.0 215.0 ND 11

 12 Mutual funds 2089.0 2067.0 2385.0 2916.0 3122.0 3099.0 3215.0 3230.0 3011.0 3099.0 ND 12

 13 Other self-directed accounts 1824.5 1923.9 2172.1 2646.2 2854.6 2912.9 2944.4 2977.6 2818.3 2912.9 ND 13

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Assets of the household sector (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.228 Taxes Payable by Businesses

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

 1 Total taxes payable by all businesses 53.1 73.4 84.5 96.3 115.2 108.3 142.3 128.6 124.4 108.3 122.4 1

 2 Nonfinancial corporate business 42.9 51.7 54.0 44.9 43.5 41.6 58.1 56.2 56.8 41.6 40.7 2

 3 Nonfinancial noncorporate business 99.2 99.7 107.4 110.5 114.2 122.8 117.9 119.6 120.7 122.8 124.1 3

 4 U.S.-chartered depository institutions -59.6 -49.1 -47.6 -47.4 -32.3 -36.7 -27.5 -34.4 -32.2 -36.7 -26.3 4

 5 Property-casualty insurance companies -10.1 -14.5 -10.8 8.4 10.3 2.1 10.6 5.9 0.1 2.1 3.4 5

 6 Life insurance companies -28.8 -23.6 -28.3 -30.5 -32.4 -33.1 -29.9 -31.3 -33.5 -33.1 -31.7 6

 7 Finance companies 6.0 6.7 6.7 6.8 7.8 8.3 8.2 8.4 8.5 8.3 8.1 7

 8 Brokers and dealers 3.6 2.5 3.1 3.7 4.0 3.2 4.9 4.2 4.1 3.2 4.1 8

 9 Total business taxes receivable 262.1 272.8 279.9 287.3 302.9 332.0 309.5 311.2 323.6 332.0 336.9 9

 10 Federal government 144.3 152.8 158.6 163.4 165.6 181.3 169.6 173.5 177.4 181.3 185.3 10

 11 State and local governments 117.8 120.0 121.3 123.8 137.2 150.6 139.9 137.7 146.2 150.6 151.6 11

 12 Discrepancy -209.0 -199.4 -195.4 -191.0 -187.7 -223.6 -167.1 -182.5 -199.2 -223.6 -214.5 12

L.229 Proprietors’ Equity in Noncorporate Business

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

 1 Total household equity 6898.4 7524.0 8313.7 9512.6 10174.7 10749.1 10381.5 10483.2 10601.4 10749.1 10922.6 1

 2 Nonfinancial noncorporate business 6882.5 7512.1 8296.4 9496.7 10157.3 10734.2 10364.2 10467.0 10584.3 10734.2 10909.4 2

 3 Brokers and dealers 15.9 11.9 17.3 15.9 17.5 14.9 17.2 16.2 17.1 14.9 13.1 3
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L.230 Direct Investment

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 4273.6 4599.5 5017.5 5339.8 5576.0 5712.7 5611.3 5633.3 5657.1 5712.7 5793.5 1

 2 Equity 4084.8 4405.2 4778.5 5100.5 5342.7 5517.1 5380.1 5438.7 5484.0 5517.1 5589.0 2

 3 Intercompany debt (2) 188.7 194.3 239.0 239.3 233.3 195.6 231.3 194.5 173.1 195.6 204.5 3

 4 U.S. parents’ claims 586.9 619.1 659.4 687.5 691.5 724.4 682.9 719.1 701.3 724.4 737.8 4

 5 Less: U.S. parents’ liabilities 398.1 424.8 420.5 448.3 458.2 528.8 451.7 524.6 528.2 528.8 533.3 5

 6 Asset: Nonfinancial corporate business 3402.9 3759.2 4134.4 4447.0 4691.8 4839.1 4722.1 4729.4 4750.7 4839.1 4909.9 6

 7 U.S.-chartered depository institutions 280.1 272.5 277.0 268.5 252.9 241.8 254.1 256.4 254.7 241.8 247.1 7

 8 Property-casualty insurance companies 99.1 90.2 98.5 105.5 107.1 103.7 107.6 110.4 110.8 103.7 105.3 8

 9 Life insurance companies 46.3 54.2 69.1 72.2 72.8 64.9 74.7 76.0 75.5 64.9 64.7 9

 10 Finance companies 206.0 221.8 226.3 227.7 226.8 229.9 226.8 230.2 232.5 229.9 231.3 10

 11 Brokers and dealers 239.3 201.7 212.3 218.9 224.6 233.4 226.0 230.9 233.0 233.4 235.1 11

 Foreign direct investment in U.S.:

 12 Liab.: Nonfinancial corporate business 2128.7 2230.7 2417.2 2612.8 2760.3 3010.1 2855.5 2934.9 2960.6 3010.1 3053.5 12

 13 Nonfinancial noncorporate business 5.3 6.1 6.3 7.1 7.9 9.4 8.8 9.3 9.5 9.4 9.0 13

 14 Foreign banking offices in U.S. 120.0 176.6 207.7 215.9 219.3 200.2 217.7 222.2 222.6 200.2 202.9 14

 15 Property-casualty insurance companies 70.7 73.9 58.1 44.1 47.9 55.9 47.3 47.0 48.6 55.9 55.5 15

 16 Life insurance companies 84.3 103.6 105.3 88.1 101.4 96.4 108.4 109.2 108.9 96.4 96.5 16

 17 Finance companies 114.7 91.1 88.7 73.4 72.7 43.1 72.7 72.6 65.5 43.1 43.9 17

 18 Brokers and dealers 88.5 104.6 110.4 128.6 133.2 178.2 135.0 139.8 147.4 178.2 183.1 18

 19 Funding corporations 11.4 12.0 12.6 13.2 13.8 14.4 14.0 14.1 14.3 14.4 14.6 19

 20 Asset: Rest of the world (1) 2623.6 2798.7 3006.3 3183.2 3356.5 3607.8 3459.4 3549.2 3577.4 3607.8 3659.1 20

 21 Equity 2129.1 2268.3 2498.0 2669.5 2805.8 2965.2 2887.4 2912.5 2935.9 2965.2 3009.8 21

 22 Intercompany debt 494.5 530.4 508.3 513.7 550.7 642.6 572.0 636.6 641.5 642.6 649.3 22

 23 U.S. affiliates’ liabilities 773.2 806.1 833.4 891.3 931.2 1038.9 962.7 1031.3 1032.6 1038.9 1045.5 23

 24 Less: U.S. affiliates’ claims 278.7 275.7 325.2 377.6 380.5 396.4 390.7 394.7 391.1 396.4 396.2 24

 Memo:

 Direct investment, asset/liability presentation:

 25 Direct investment assets 4950.4 5300.0 5763.1 6165.7 6414.7 6637.8 6453.7 6552.5 6576.5 6637.8 6723.0 25

 26 Equity (line 2) 4084.8 4405.2 4778.5 5100.5 5342.7 5517.1 5380.1 5438.7 5484.0 5517.1 5589.0 26

 27 Intercompany debt 865.5 894.8 984.6 1065.2 1072.0 1120.7 1073.6 1113.8 1092.4 1120.7 1134.0 27

 28 U.S. parents’ claims (line 4) 586.9 619.1 659.4 687.5 691.5 724.4 682.9 719.1 701.3 724.4 737.8 28

 29 U.S. affiliates’ claims (line 24) 278.7 275.7 325.2 377.6 380.5 396.4 390.7 394.7 391.1 396.4 396.2 29

 30 Direct investment liabilities 3300.5 3499.2 3751.9 4009.1 4195.2 4532.9 4301.8 4468.4 4496.7 4532.9 4588.5 30

 31 Equity (line 21) 2129.1 2268.3 2498.0 2669.5 2805.8 2965.2 2887.4 2912.5 2935.9 2965.2 3009.8 31

 32 Intercompany debt 1171.3 1230.9 1253.9 1339.6 1389.4 1567.7 1414.3 1555.9 1560.8 1567.7 1578.8 32

 33 U.S. parents’ liabilities (line 5) 398.1 424.8 420.5 448.3 458.2 528.8 451.7 524.6 528.2 528.8 533.3 33

 34 U.S. affiliates’ liabilities (line 23) 773.2 806.1 833.4 891.3 931.2 1038.9 962.7 1031.3 1032.6 1038.9 1045.5 34

 Alternative valuations of direct investment assets:

 U.S. direct investment abroad:

 35 Market value 4809.6 4514.3 5222.9 6291.4 6285.3 5982.8 6408.7 6385.6 5791.7 5982.8 6058.6 35

 36 Equity 4620.9 4320.1 4983.9 6052.1 6052.0 5787.2 6177.4 6191.1 5618.6 5787.2 5854.1 36

 37 Intercompany debt 188.7 194.3 239.0 239.3 233.3 195.6 231.3 194.5 173.1 195.6 204.5 37

 38 Historical cost 3741.9 4050.0 4410.0 4693.3 4920.7 5057.4 4956.0 4977.9 5001.8 5057.4 5133.2 38

 39 Equity 3553.2 3855.8 4171.0 4454.1 4687.3 4861.8 4724.7 4783.4 4828.7 4861.8 4928.7 39

 40 Intercompany debt 188.7 194.3 239.0 239.3 233.3 195.6 231.3 194.5 173.1 195.6 204.5 40

 Foreign direct investment in U.S.:

 41 Market value 3422.3 3498.7 3915.5 4954.7 5390.1 5588.0 5549.6 5614.0 5276.4 5588.0 5588.1 41

 42 Equity 2927.8 2968.4 3407.3 4441.0 4839.4 4945.4 4977.6 4977.4 4634.9 4945.4 4938.8 42

 43 Intercompany debt 494.5 530.4 508.3 513.7 550.7 642.6 572.0 636.6 641.5 642.6 649.3 43

 44 Historical cost 2280.0 2433.8 2604.0 2754.7 2901.1 3152.4 3004.0 3093.7 3122.0 3152.4 3152.4 44

 45 Equity 1785.5 1903.5 2095.8 2241.0 2350.4 2509.8 2432.0 2457.1 2480.5 2509.8 2503.1 45

 46 Intercompany debt 494.5 530.4 508.3 513.7 550.7 642.6 572.0 636.6 641.5 642.6 649.3 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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L.231 Total Miscellaneous Financial Claims

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 15001.9 15420.1 16173.8 15725.0 16423.7 16644.2 16555.7 16630.5 17141.1 16644.2 16972.7 1

 2 Household sector 24.7 24.3 24.9 27.9 29.1 30.6 30.2 31.0 30.6 30.6 31.8 2

 3 Nonfinancial corporate business 3266.0 3445.7 3658.6 3681.5 4027.0 4040.8 3941.6 3808.5 3856.4 4040.8 4074.1 3

 4 Nonfinancial noncorporate business 1189.0 1168.0 1219.7 1261.5 1300.5 1307.8 1316.7 1316.1 1314.2 1307.8 1301.5 4

 5 Federal government 1937.3 1970.3 2031.1 2031.3 2061.1 2081.0 2188.8 2339.5 2457.8 2081.0 2116.2 5

 6 State and local governments 1454.8 1764.6 1793.3 1401.4 1377.2 1728.4 1368.2 1440.5 1735.3 1728.4 1797.6 6

 7 Monetary authority 56.9 29.7 33.7 43.5 47.0 47.6 50.4 50.1 48.7 47.6 48.6 7

 8 U.S.-chartered depository institutions 2247.6 2236.1 2446.4 2516.2 2851.0 2890.9 2863.0 2889.1 2931.9 2890.9 2951.0 8

 9 Foreign banking offices in U.S. 293.3 303.4 267.8 234.6 222.8 213.7 225.7 214.2 220.8 213.7 254.7 9

 10 Banks in U.S.-affiliated areas 23.3 19.4 17.3 14.3 12.7 10.4 11.8 12.6 10.9 10.4 10.8 10

 11 Credit unions 11.1 12.4 12.7 14.2 15.4 16.0 15.9 16.7 15.7 16.0 20.2 11

 12 Property-casualty insurance companies 761.2 796.4 813.4 813.1 827.8 842.6 825.0 833.4 843.7 842.6 849.0 12

 13 Life insurance companies 1306.6 1315.0 1367.2 1402.1 1438.8 1440.8 1469.3 1440.9 1442.4 1440.8 1488.8 13

 14 Government-sponsored enterprises 179.4 130.2 124.1 114.7 111.0 106.5 110.0 104.9 106.0 106.5 105.0 14

 15 Finance companies 157.3 173.0 145.1 134.5 136.1 142.0 135.2 127.0 127.0 142.0 121.9 15

 16 REITs 63.7 70.8 96.3 74.1 82.3 80.2 81.3 82.9 93.3 80.2 85.7 16

 17 Brokers and dealers 394.6 375.1 367.4 408.7 388.8 390.8 395.3 401.7 393.4 390.8 370.0 17

 18 Holding companies 524.6 484.4 822.3 739.4 708.2 408.9 699.0 686.0 629.6 408.9 402.2 18

 19 Funding corporations 919.4 777.3 748.4 651.3 637.1 708.0 668.2 687.2 722.3 708.0 784.9 19

 20 Rest of the world 191.2 324.1 184.1 160.8 149.8 157.4 160.0 148.1 161.1 157.4 158.6 20

 21 Total assets 21031.9 21965.6 22940.3 23328.6 24342.4 25450.2 24843.3 25217.9 25902.9 25450.2 25915.2 21

 22 Household sector 808.2 870.5 861.0 909.5 917.3 958.1 920.2 926.0 940.7 958.1 968.0 22

 23 Nonfinancial corporate business 6707.4 6784.2 6893.1 7295.6 7803.8 8600.1 8031.3 8202.1 8306.8 8600.1 8633.8 23

 24 Nonfinancial noncorporate business 2134.4 2243.6 2466.0 2694.8 2831.2 2997.9 2867.8 2919.3 2943.1 2997.9 3026.8 24

 25 Federal government 143.8 146.4 142.0 146.1 158.6 173.0 163.5 167.9 170.6 173.0 176.6 25

 26 State and local governments 96.7 95.7 101.4 105.3 112.8 128.6 116.4 119.6 127.3 128.6 132.4 26

 27 Monetary authority 81.6 223.9 199.5 233.1 235.5 216.8 228.9 224.9 219.7 216.8 211.0 27

 28 U.S.-chartered depository institutions 683.0 704.8 602.8 528.1 547.7 551.5 559.6 541.9 566.8 551.5 583.5 28

 29 Foreign banking offices in U.S. 29.2 44.2 43.9 57.0 71.3 58.4 75.8 69.9 61.0 58.4 64.1 29

 30 Banks in U.S.-affiliated areas 11.0 11.8 12.0 20.5 33.4 34.9 31.3 36.9 36.1 34.9 40.3 30

 31 Credit unions 74.1 61.9 62.7 61.1 66.4 72.6 75.3 71.6 71.6 72.6 80.4 31

 32 Property-casualty insurance companies 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 32

 33 Life insurance companies 305.6 357.4 375.2 403.0 476.6 489.3 499.7 484.0 499.5 489.3 520.2 33

 34 Private pension funds 1535.5 1668.2 1583.2 1420.6 1439.7 1593.9 1443.3 1478.0 1611.5 1593.9 1633.3 34

 35 Federal government retirement funds 1730.8 1745.6 1793.6 1782.1 1802.0 1815.1 1934.0 2087.5 2205.5 1815.1 1852.2 35

 36 State and local govt. retirement funds 1751.8 2055.1 2083.1 1706.3 1681.1 2037.4 1678.5 1750.8 2039.6 2037.4 2107.2 36

 37 Money market mutual funds 23.6 22.8 29.0 31.6 17.0 10.0 28.8 15.4 12.9 10.0 12.3 37

 38 Mutual funds 125.5 124.4 157.2 246.2 268.3 217.1 272.7 250.3 217.4 217.1 193.4 38

 39 Government-sponsored enterprises 148.6 148.5 152.6 165.6 154.7 148.2 164.7 166.3 154.2 148.2 156.1 39

 40 ABS issuers 78.4 70.0 69.6 61.1 70.4 72.0 71.9 70.4 67.4 72.0 71.1 40

 41 Finance companies -129.0 -138.7 -169.0 -188.6 -170.7 -184.5 -164.4 -192.0 -205.1 -184.5 -193.7 41

 42 REITs 66.1 74.7 100.4 109.2 126.9 138.7 133.5 137.9 141.9 138.7 144.2 42

 43 Brokers and dealers 786.0 730.9 645.1 768.3 812.4 765.8 839.4 779.8 815.8 765.8 835.1 43

 44 Holding companies 3171.5 3232.1 4041.2 4064.3 4175.5 3806.4 4141.9 4181.6 4157.5 3806.4 3866.4 44

 45 Funding corporations 667.9 687.6 694.8 707.8 710.6 748.9 729.1 727.8 741.0 748.9 800.2 45

 46 Discrepancy -6030.0 -6545.5 -6766.5 -7603.6 -7918.7 -8806.0 -8287.6 -8587.4 -8761.8 -8806.0 -8942.5 46
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L.232 Identified Miscellaneous Financial Claims - Part I

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 52.8 55.4 57.8 60.0 62.4 64.6 64.6 64.6 64.6 64.6 64.6 1

 2 Asset: Federal government 52.8 55.4 57.8 60.0 62.4 64.6 64.6 64.6 64.6 64.6 64.6 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 26.5 26.9 27.4 27.5 28.6 29.5 28.8 29.1 29.3 29.5 30.1 3

 4 Asset: U.S.-chartered depository institutions 26.5 26.9 27.4 27.5 28.6 29.5 28.8 29.1 29.3 29.5 30.1 4

 Equity in government-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 49.0 43.1 41.2 41.7 42.9 44.2 41.8 42.9 42.3 44.2 42.7 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.6 0.5 0.6 0.6 0.7 0.8 0.8 0.8 0.8 0.8 0.9 6

 7 Nonfinancial noncorporate (FCS) 6.7 7.0 7.2 7.7 8.5 9.0 8.6 8.7 8.9 9.0 9.1 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 36.7 30.6 28.4 27.8 27.3 25.9 25.7 26.2 24.9 25.9 24.4 9

 10 Credit unions (FHLB) 2.2 2.9 2.9 2.4 2.9 3.3 3.0 3.2 3.3 3.3 3.5 10

 11 Property-casualty insurance companies (FHLB) 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 11

 12 Life insurance companies (FHLB) 2.7 2.0 2.0 2.9 3.0 3.4 3.1 3.2 3.1 3.4 3.4 12

 13 Finance companies 0.1 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.2 0.2 0.2 13

 14 Real estate investment trusts (FHLB) 0.0 0.0 0.0 0.1 0.3 1.4 0.4 0.6 1.0 1.4 1.1 14

 Holding company net transactions with subsidiaries:

 15 Liab.: U.S.-chartered depository institutions 1632.8 1709.0 1889.2 1937.2 2133.2 2171.3 2112.8 2141.6 2160.8 2171.3 2208.0 15

 16 Property-casualty insurance companies 0.0 0.0 11.2 5.2 5.3 4.5 3.9 4.6 4.8 4.5 4.0 16

 17 Life insurance companies 62.7 72.0 17.2 10.7 11.5 12.0 11.8 11.8 12.1 12.0 12.9 17

 18 Finance companies 115.0 94.6 91.1 75.4 62.2 59.7 61.1 58.6 58.3 59.7 56.1 18

 19 Brokers and dealers 626.6 613.5 1060.5 1087.6 1092.4 1019.6 1075.6 1130.8 1135.2 1019.6 1041.6 19

 20 Rest of the world 135.6 166.3 114.7 97.9 83.3 89.2 92.0 80.3 93.2 89.2 91.3 20

 21 Asset: Holding companies 2572.7 2655.4 3184.0 3214.0 3387.9 3356.3 3357.1 3427.7 3464.4 3356.3 3413.9 21

 NFC investment in finance company subsidiaries:

 22 Liab.: Finance companies 60.7 69.1 71.7 86.4 100.5 96.4 98.6 94.5 94.2 96.4 90.6 22

 23 Asset: Nonfinancial corporate business 60.7 69.1 71.7 86.4 100.5 96.4 98.6 94.5 94.2 96.4 90.6 23

 Funding corporations’ investment in subsidiaries:

 24 Liab.: Foreign banking offices in U.S. 171.6 137.8 126.0 123.5 103.2 105.4 96.2 109.1 108.4 105.4 127.1 24

 25 Brokers and dealers 496.4 549.7 568.8 584.3 607.4 643.5 632.9 618.7 632.6 643.5 673.1 25

 26 Asset: Funding corporations 667.9 687.6 694.8 707.8 710.6 748.9 729.1 727.8 741.0 748.9 800.2 26

 Equity investment under Public-Private Inv. Program:

 27 Liab.: Funding corporations 7.7 10.4 3.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Asset: Households (1) 3.8 5.2 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Federal government 3.8 5.2 1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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L.233 Identified Miscellaneous Financial Claims - Part II

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 2.7 102.5 11.5 2.9 4.2 3.6 3.4 3.3 3.3 3.6 2.8 1

 2 Asset: Federal government 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2

 3 Monetary authority (1) 0.1 99.8 8.9 0.3 1.5 1.0 0.8 0.6 0.7 1.0 0.1 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 14.4 12.6 13.7 10.6 9.1 8.5 10.2 9.2 8.3 8.5 8.3 6

 7 Asset: U.S.-chartered depository institutions 14.4 12.6 13.7 10.6 9.1 8.5 10.2 9.2 8.3 8.5 8.3 7

 Funding agreements backing securities (2):

 8 Liab.: Life insurance companies 78.4 70.0 69.6 61.1 70.4 72.0 71.9 70.4 67.4 72.0 71.1 8

 9 Asset: ABS issuers 78.4 70.0 69.6 61.1 70.4 72.0 71.9 70.4 67.4 72.0 71.1 9

 Deferred and unpaid life insurance premiums:

 10 Liab.: Household sector 24.7 24.3 24.9 27.9 29.1 30.6 30.2 31.0 30.6 30.6 31.8 10

 11 Asset: Life insurance companies 24.7 24.3 24.9 27.9 29.1 30.6 30.2 31.0 30.6 30.6 31.8 11

 Life insurance company reserves:

 12 Liab.: Life insurance companies 290.7 305.5 303.7 304.2 310.0 318.8 313.5 314.0 319.0 318.8 325.5 12

 13 Accident and health 209.4 225.0 222.6 222.8 228.3 236.1 230.2 231.1 234.8 236.1 241.9 13

 14 Policy dividend accumulation 39.7 37.9 38.3 38.5 38.8 39.2 38.5 38.9 39.1 39.2 39.0 14

 15 Contract claims 41.6 42.6 42.8 42.8 42.9 43.5 44.7 44.0 45.0 43.5 44.6 15

 16 Asset: Household sector 290.7 305.5 303.7 304.2 310.0 318.8 313.5 314.0 319.0 318.8 325.5 16

 Policy payables:

 17 Liab.: Property-casualty insurance companies 761.2 796.4 802.1 807.8 822.5 838.1 821.1 828.8 838.9 838.1 845.0 17

 18 Asset: Household sector 310.8 338.4 320.7 358.4 350.0 374.6 353.6 361.4 370.7 374.6 379.5 18

 19 Nonfinancial corporate business 318.7 331.0 339.0 333.0 343.2 345.1 341.6 343.6 346.5 345.1 347.5 19

 20 Nonfinancial noncorporate business 131.7 127.0 142.5 116.5 129.4 118.4 126.0 123.8 121.6 118.4 117.9 20

 Unallocated insurance company contracts:

 21 Liab.: Life insurance companies 626.4 633.7 653.3 675.9 677.0 676.4 684.4 683.0 660.3 676.4 678.0 21

 22 Asset: Private pension funds 466.5 483.7 503.5 525.2 532.1 530.0 537.6 535.6 517.3 530.0 531.6 22

 23 State and local government retirement funds 159.9 149.9 149.8 150.7 144.9 146.4 146.8 147.3 143.0 146.4 146.4 23

 Pension fund contributions payable:

 24 Liab.: Nonfinancial corporate business 90.8 93.8 81.4 79.0 77.9 80.7 79.6 79.9 79.8 80.7 79.2 24

 25 Asset: Private pension funds 90.8 93.8 81.4 79.0 77.9 80.7 79.6 79.9 79.8 80.7 79.2 25

 Securities borrowed (net):

 26 Liab.: Funding corporations 733.4 658.7 579.5 673.5 720.6 706.8 755.4 703.1 747.5 706.8 785.7 26

 27 Asset: Brokers and dealers 733.4 658.7 579.5 673.5 720.6 706.8 755.4 703.1 747.5 706.8 785.7 27

 Retiree health care funds (3):

 28 Liab.: Federal government 202.9 221.4 234.8 246.9 257.3 264.7 253.2 250.6 251.0 264.7 263.0 28

 29 Asset: Household sector 202.9 221.4 234.8 246.9 257.3 264.7 253.2 250.6 251.0 264.7 263.0 29

 Claims of pension fund on sponsor:

 30 Liab.: Nonfinancial corporate business 448.6 517.7 391.0 181.7 166.3 297.3 154.8 187.4 335.8 297.3 329.1 30

 31 Federal government 1730.8 1745.6 1793.6 1782.1 1802.0 1815.1 1934.0 2087.5 2205.5 1815.1 1852.2 31

 32 State and local governments 1454.8 1764.6 1793.3 1401.4 1377.2 1728.4 1368.2 1440.5 1735.3 1728.4 1797.6 32

 33 Asset: Private pension funds 448.6 517.7 391.0 181.7 166.3 297.3 154.8 187.4 335.8 297.3 329.1 33

 34 Federal government retirement funds 1730.8 1745.6 1793.6 1782.1 1802.0 1815.1 1934.0 2087.5 2205.5 1815.1 1852.2 34

 35 State and local govt. retirement funds 1454.8 1764.6 1793.3 1401.4 1377.2 1728.4 1368.2 1440.5 1735.3 1728.4 1797.6 35

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

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables L.132 and L.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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L.234 Unidentified Miscellaneous Financial Claims

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 5104.8 4925.6 5340.8 5332.6 5767.4 5463.3 5755.8 5555.2 5422.8 5463.3 5461.3 1

 2 Nonfinancial corporate business 2726.6 2834.3 3186.1 3420.9 3782.8 3662.8 3707.2 3541.2 3440.8 3662.8 3665.8 2

 3 Nonfinancial noncorporate business 1189.0 1168.0 1219.7 1261.5 1300.5 1307.8 1316.7 1316.1 1314.2 1307.8 1301.5 3

 4 Federal government 3.6 3.2 2.8 2.3 1.8 1.2 1.6 1.5 1.3 1.2 1.0 4

 5 Monetary authority 30.4 2.8 6.3 16.0 18.4 18.1 21.6 21.0 19.4 18.1 18.5 5

 6 U.S.-chartered depository institutions 614.7 527.1 557.2 578.9 717.8 719.6 750.3 747.5 771.1 719.6 743.0 6

 7 Foreign banking offices in U.S. 121.7 165.6 141.7 111.1 119.6 108.3 129.4 105.1 112.4 108.3 127.6 7

 8 Banks in U.S.-affiliated areas 23.3 19.4 17.3 14.3 12.7 10.4 11.8 12.6 10.9 10.4 10.8 8

 9 Credit unions 11.1 12.4 12.7 14.2 15.4 16.0 15.9 16.7 15.7 16.0 20.2 9

 10 Life insurance companies 248.4 233.8 323.4 350.1 370.0 361.6 387.8 361.7 383.7 361.6 401.2 10

 11 Government-sponsored enterprises 115.9 74.5 69.2 62.4 59.0 53.7 58.0 52.8 55.4 53.7 54.0 11

 12 Finance companies -18.4 9.3 -17.7 -27.2 -26.6 -14.1 -24.5 -26.2 -25.5 -14.1 -24.9 12

 13 REITs 63.7 70.8 96.3 74.1 82.3 80.2 81.3 82.9 93.3 80.2 85.7 13

 14 Brokers and dealers -728.3 -788.1 -1261.8 -1263.1 -1310.9 -1272.3 -1313.1 -1347.7 -1374.4 -1272.3 -1344.6 14

 15 Holding companies 524.6 484.4 822.3 739.4 708.2 408.9 699.0 686.0 629.6 408.9 402.2 15

 16 Funding corporations 178.4 108.1 165.3 -22.3 -83.6 1.2 -87.2 -15.9 -25.2 1.2 -0.8 16

 17 Total assets 11134.8 11471.1 12107.3 12936.2 13686.2 14269.3 14043.4 14142.6 14184.6 14269.3 14403.8 17

 18 Nonfinancial corporate business 6327.4 6383.6 6481.9 6875.6 7359.4 8157.8 7590.3 7763.2 7865.3 8157.8 8194.8 18

 19 Nonfinancial noncorporate business 1996.0 2109.5 2316.4 2570.5 2693.3 2870.5 2733.2 2786.8 2812.6 2870.5 2899.8 19

 20 Federal government 84.5 83.2 79.8 83.4 93.6 105.8 96.3 100.7 103.4 105.8 109.4 20

 21 State and local governments 96.7 95.7 101.4 105.3 112.8 128.6 116.4 119.6 127.3 128.6 132.4 21

 22 Monetary authority 81.5 124.0 190.6 232.8 233.9 215.8 228.1 224.3 219.1 215.8 210.9 22

 23 U.S.-chartered depository institutions 605.3 634.8 533.3 462.2 482.8 487.6 494.8 477.3 504.3 487.6 520.7 23

 24 Foreign banking offices in U.S. 29.2 44.2 43.9 57.0 71.3 58.4 75.8 69.9 61.0 58.4 64.1 24

 25 Banks in U.S.-affiliated areas 11.0 11.8 12.0 20.5 33.4 34.9 31.3 36.9 36.1 34.9 40.3 25

 26 Credit unions 71.9 59.1 59.8 58.8 63.5 69.2 72.3 68.4 68.3 69.2 76.9 26

 27 Life insurance companies 278.1 331.1 348.2 372.2 444.5 455.4 466.4 449.7 465.8 455.4 485.0 27

 28 Private pension funds 529.7 573.1 607.2 634.8 663.4 686.0 671.3 675.0 678.7 686.0 693.4 28

 29 State and local govt. retirement funds 137.1 140.6 140.0 154.3 159.1 162.6 163.6 163.0 161.3 162.6 163.2 29

 30 Mutual funds 125.5 124.4 157.2 246.2 268.3 217.1 272.7 250.3 217.4 217.1 193.4 30

 31 Money market mutual funds 23.6 22.8 29.0 31.6 17.0 10.0 28.8 15.4 12.9 10.0 12.3 31

 32 Government-sponsored enterprises 148.6 148.5 152.6 165.6 154.7 148.2 164.7 166.3 154.2 148.2 156.1 32

 33 Finance companies -129.0 -138.8 -169.0 -188.8 -170.8 -184.7 -164.5 -192.2 -205.2 -184.7 -193.9 33

 34 REITs 66.1 74.7 100.4 109.1 126.5 137.3 133.1 137.3 140.9 137.3 143.1 34

 35 Brokers and dealers 52.6 72.2 65.6 94.8 91.7 59.0 84.0 76.7 68.3 59.0 49.4 35

 36 Holding companies 598.9 576.7 857.2 850.3 787.6 450.1 784.8 753.9 693.1 450.1 452.5 36

 37 Discrepancy -6030.0 -6545.5 -6766.5 -7603.6 -7918.7 -8806.0 -8287.6 -8587.4 -8761.8 -8806.0 -8942.5 37
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B.101 Balance Sheet of Households and Nonprofit Organizations (1)

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Assets 76104.3 77124.1 83233.8 93168.2 98368.2 101769.6 100171.2 100795.7 99450.5 101769.6 102624.7 1

 2 Nonfinancial assets 23403.2 23453.4 25151.4 27719.0 29215.2 30991.0 29677.2 30073.3 30467.1 30991.0 31546.6 2

 3 Real estate 18434.7 18327.7 19884.8 22350.7 23731.5 25290.5 24152.1 24475.7 24823.1 25290.5 25788.9 3

 4 Households (2,3) 16460.0 16166.4 17578.6 19682.6 20792.0 22046.6 21113.0 21383.3 21651.8 22046.6 22524.1 4

 5 Nonprofit organizations 1974.7 2161.4 2306.2 2668.0 2939.5 3243.9 3039.1 3092.4 3171.3 3243.9 3264.8 5

 6 Equipment (nonprofits) (4) 280.1 293.0 301.8 309.1 320.0 331.5 323.3 325.9 328.9 331.5 333.8 6

 7 Intellectual property products (nonprofits) (4) 101.8 109.4 115.9 121.5 125.9 131.3 126.8 127.5 129.5 131.3 133.0 7

 8 Consumer durable goods (4) 4586.7 4723.3 4848.9 4937.8 5037.8 5237.7 5075.0 5144.2 5185.6 5237.7 5290.8 8

 9 Financial assets 52701.1 53670.7 58082.5 65449.2 69153.0 70778.6 70494.0 70722.4 68983.3 70778.6 71078.1 9

 10 Deposits 8061.6 8702.3 9227.2 9602.4 10210.5 10752.5 10344.0 10316.2 10425.0 10752.5 10853.6 10

 11 Foreign deposits 67.3 57.4 49.5 51.7 45.3 30.5 43.8 39.1 35.1 30.5 25.3 11

 12 Checkable deposits and currency 423.5 723.8 887.5 1021.4 1158.5 1309.3 1221.5 1222.4 1163.3 1309.3 1318.8 12

 13 Time and savings deposits 6442.2 6812.1 7179.2 7389.9 7886.4 8346.7 8063.8 8055.8 8220.9 8346.7 8473.6 13

 14 Money market fund shares 1128.6 1109.1 1111.1 1139.3 1120.2 1066.1 1014.9 999.0 1005.7 1066.1 1035.9 14

 15 Debt securities 4827.7 4428.2 4316.1 4335.1 4081.5 4545.6 4095.0 4275.7 4437.0 4545.6 4466.4 15

 16 Open market paper 21.1 19.4 18.8 15.0 14.9 13.7 15.2 15.7 14.3 13.7 11.7 16

 17 Treasury securities 1106.7 702.0 943.9 1144.9 842.1 1123.5 880.0 953.2 1037.1 1123.5 1071.6 17

 18 Agency- and GSE-backed securities 289.8 330.6 239.9 279.7 336.5 539.8 307.7 356.1 434.3 539.8 504.8 18

 19 Municipal securities 1905.7 1826.6 1679.2 1692.6 1605.1 1596.5 1620.7 1646.5 1629.3 1596.5 1608.0 19

 20 Corporate and foreign bonds 1504.4 1549.7 1434.4 1202.9 1282.9 1272.0 1271.3 1304.1 1322.0 1272.0 1270.3 20

 21 Loans 922.8 917.5 918.8 970.3 1023.3 965.8 1024.1 995.0 991.6 965.8 1001.6 21

 22 Other loans and advances (5) 751.4 749.5 777.9 841.4 893.2 842.6 895.7 867.9 866.3 842.6 882.0 22

 23 Mortgages 100.1 100.9 82.8 77.1 82.5 79.0 81.6 81.1 79.8 79.0 76.9 23

 24 Consumer credit (student loans) 71.3 67.1 58.0 51.8 47.6 44.2 46.8 46.1 45.5 44.2 42.8 24

 25 Corporate equities (2) 8694.4 8295.0 9669.9 12851.9 14203.3 13994.9 14729.8 14611.9 13256.1 13994.9 13851.6 25

 26 Mutual fund shares (6) 4476.7 4435.2 5254.7 6250.5 6672.4 6556.5 6904.4 6906.3 6438.8 6556.5 6609.7 26

 27 Life insurance reserves 1137.5 1199.3 1186.4 1233.0 1282.8 1310.6 1300.0 1303.8 1298.3 1310.6 1324.3 27

 28 Pension entitlements (7) 16873.8 17298.8 18334.7 19783.8 20587.3 20945.5 20795.0 20904.3 20594.5 20945.5 21080.2 28

 29 Equity in noncorporate business (8) 6898.4 7524.0 8313.7 9512.6 10174.7 10749.1 10381.5 10483.2 10601.4 10749.1 10922.6 29

 30 Miscellaneous assets 808.2 870.5 861.0 909.5 917.3 958.1 920.2 926.0 940.7 958.1 968.0 30

 31 Liabilities 13788.1 13579.5 13635.6 13784.7 14167.6 14520.0 14151.7 14295.7 14381.1 14520.0 14537.8 31

 32 Debt securities (municipal securities) (10) 263.2 255.5 241.0 227.8 223.1 218.0 223.0 219.7 217.2 218.0 219.9 32

 33 Loans 13251.3 13049.8 13115.7 13274.0 13657.3 14012.1 13640.0 13786.1 13874.1 14012.1 14026.6 33

 34 Home mortgages (9) 9921.5 9701.9 9490.7 9403.8 9403.6 9493.8 9374.2 9417.3 9470.3 9493.8 9510.6 34

 35 Consumer credit 2647.2 2758.3 2920.4 3096.2 3318.0 3534.6 3322.8 3397.8 3481.4 3534.6 3542.0 35

 36 Depository institution loans n.e.c. 61.0 11.5 62.6 90.8 211.9 325.8 232.5 246.3 268.7 325.8 338.9 36

 37 Other loans and advances 414.3 376.9 443.1 480.5 513.7 437.4 499.0 510.1 436.5 437.4 413.4 37

 38 Commercial mortgages (10) 207.3 201.1 198.9 202.7 210.1 220.5 211.4 214.5 217.2 220.5 221.7 38

 39 Trade payables (10) 248.8 250.0 254.0 255.0 258.1 259.4 258.5 258.9 259.2 259.4 259.4 39

 40 Deferred and unpaid life insurance premiums 24.7 24.3 24.9 27.9 29.1 30.6 30.2 31.0 30.6 30.6 31.8 40

 41 Net worth 62316.3 63544.5 69598.3 79383.5 84200.6 87249.5 86019.5 86500.0 85069.4 87249.5 88086.9 41

 Memo:

 42 Assets held in IRAs (11) 5029.0 5153.0 5785.0 6835.0 7266.0 7329.0 7445.0 7504.0 7133.0 7329.0 ND 42

 43 Assets held in 529 college plans (11) 158.0 165.4 191.2 227.1 247.9 253.2 255.8 258.5 245.5 253.2 255.9 43

 44 College savings plans 138.8 144.6 168.6 204.1 223.9 229.8 231.7 234.2 221.7 229.8 232.5 44

 45 Prepaid tuition plans 19.2 20.8 22.6 23.0 24.0 23.4 24.1 24.3 23.8 23.4 23.4 45

 Replacement-cost value of structures:

 46 Residential 12730.1 12845.4 13246.2 14237.1 15148.4 15445.8 15169.6 15175.7 15319.3 15445.8 15566.5 46

 47 Households 12526.6 12641.9 13035.9 14014.1 14914.6 15207.3 14935.4 14941.5 15082.8 15207.3 15326.2 47

 48 Nonprofit organizations 203.5 203.4 210.3 223.0 233.8 238.4 234.1 234.2 236.4 238.4 240.3 48

 49 Nonresidential (nonprofits) 1420.7 1464.6 1501.4 1577.5 1632.7 1627.9 1625.7 1618.5 1625.9 1627.9 1623.5 49

 50 Disposable personal income (DPI) (SAAR) 11237.9 11801.4 12403.7 12395.6 12913.9 13403.2 13179.8 13338.3 13486.4 13608.4 13754.2 50

 51 Net worth/DPI (percent) (line 41/line 50) 554.52 538.45 561.11 640.42 652.01 650.96 652.66 648.51 630.78 641.14 640.44 51

 52 Owners’ equity in real estate (line 4 less line 34) 6538.5 6464.5 8087.8 10278.9 11388.3 12552.8 11738.8 11966.0 12181.5 12552.8 13013.5 52

 53 Owners’ equity/real estate (percent) (line 52/line 4) 39.72 39.99 46.01 52.22 54.77 56.94 55.60 55.96 56.26 56.94 57.78 53

(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) Includes cash accounts at brokers and dealers and 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 and at life insurance companies. Excludes social security.

(8) Net worth of nonfinancial noncorporate business (table B.104, line 35) 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) Included in assets shown on the household balance sheet.
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B.103 Balance Sheet of Nonfinancial Corporate Business

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 28958.1 30504.4 31946.7 34802.1 37125.4 39429.2 37821.3 38338.9 38817.8 39429.2 39771.9 1

 2 Nonfinancial assets 14941.3 15995.5 16858.3 18541.6 19981.8 21399.9 20423.0 20695.4 21074.5 21399.9 21602.9 2

 3 Real estate (1) 7545.9 8231.0 8799.4 10199.0 11338.6 12470.8 11701.4 11888.0 12200.9 12470.8 12595.7 3

 4 Equipment (2) 3853.6 4008.0 4139.4 4269.8 4442.8 4608.8 4490.7 4527.8 4570.9 4608.8 4644.1 4

 5 Intellectual property products (2) 1669.1 1746.9 1819.4 1920.0 2002.7 2101.6 2022.3 2040.4 2071.4 2101.6 2131.5 5

 6 Inventories (2) 1872.7 2009.6 2100.0 2152.9 2197.7 2218.7 2208.7 2239.2 2231.1 2218.7 2231.5 6

 7 Financial assets 14016.8 14508.9 15088.4 16260.5 17143.5 18029.3 17398.3 17643.5 17743.3 18029.3 18169.1 7

 8 Foreign deposits 40.6 34.8 35.4 77.5 68.7 49.0 51.3 56.5 48.3 49.0 48.2 8

 9 Checkable deposits and currency 234.5 265.3 219.8 283.3 322.3 306.2 285.1 337.5 333.4 306.2 337.5 9

 10 Time and savings deposits 548.7 561.9 595.2 631.1 609.5 580.0 622.4 589.8 593.7 580.0 552.6 10

 11 Money market fund shares 497.8 462.4 519.4 559.1 558.2 576.8 545.3 546.2 558.8 576.8 573.4 11

 12 Security repurchase agreements 12.1 12.6 9.7 8.7 21.6 25.7 22.2 23.8 25.3 25.7 24.9 12

 13 Debt securities 155.9 147.4 135.0 121.8 131.1 123.2 125.3 119.1 114.9 123.2 116.6 13

 14 Commercial paper 68.0 67.9 59.5 52.9 56.4 54.4 57.4 56.6 54.8 54.4 54.8 14

 15 Treasury securities 48.0 43.0 39.4 38.8 41.3 35.4 33.9 31.1 30.2 35.4 32.3 15

 16 Agency- and GSE-backed securities 16.0 14.3 13.1 8.9 13.8 11.8 11.3 10.4 10.1 11.8 10.8 16

 17 Municipal securities 23.9 22.3 22.9 21.2 19.7 21.6 22.7 21.0 19.9 21.6 18.7 17

 18 Loans 72.8 74.5 73.6 70.5 76.3 80.4 76.3 79.2 80.6 80.4 80.0 18

 19 Mortgages 28.0 27.4 25.5 27.1 31.9 36.8 33.2 34.4 35.6 36.8 38.0 19

 20 Consumer credit 44.8 47.1 48.0 43.4 44.4 43.6 43.2 44.8 45.0 43.6 42.0 20

 21 Mutual fund shares (1) 186.8 165.9 179.6 211.0 234.5 235.7 241.1 242.1 228.3 235.7 236.9 21

 22 Trade receivables 2157.2 2240.7 2293.2 2554.8 2625.6 2613.2 2676.0 2717.8 2702.6 2613.2 2655.2 22

 23 U.S. direct investment abroad (3) 3402.9 3759.2 4134.4 4447.0 4691.8 4839.1 4722.1 4729.4 4750.7 4839.1 4909.9 23

 24 Miscellaneous assets 6707.4 6784.2 6893.1 7295.6 7803.8 8600.1 8031.3 8202.1 8306.8 8600.1 8633.8 24

 25 Liabilities 13226.7 13878.4 14695.5 15396.6 16482.5 17217.6 16674.5 16820.5 16961.8 17217.6 17418.9 25

 26 Debt securities 3944.5 4148.6 4502.8 4804.4 5113.7 5526.1 5239.7 5394.5 5499.2 5526.1 5673.1 26

 27 Commercial paper 82.9 116.3 130.3 144.5 182.0 176.5 188.2 177.5 201.2 176.5 185.5 27

 28 Municipal securities (4) 485.4 493.9 509.1 518.5 518.4 534.3 525.1 536.5 536.5 534.3 540.1 28

 29 Corporate bonds (3) 3376.2 3538.4 3863.3 4141.4 4413.3 4815.3 4526.4 4680.5 4761.5 4815.3 4947.5 29

 30 Loans 2098.2 2230.1 2226.0 2314.7 2491.1 2577.8 2538.9 2564.3 2547.9 2577.8 2589.9 30

 31 Depository institution loans n.e.c. 477.1 629.2 712.1 775.8 868.5 947.3 888.5 910.0 917.0 947.3 975.8 31

 32 Other loans and advances 948.1 1008.3 1036.9 1063.1 1126.1 1094.9 1144.3 1140.0 1112.2 1094.9 1076.0 32

 33 Mortgages 672.9 592.5 477.0 475.8 496.6 535.5 506.1 514.3 518.7 535.5 538.1 33

 34 Trade payables 1746.4 1771.6 1837.0 1938.3 2047.0 2021.1 2040.7 2062.2 2040.9 2021.1 1987.6 34

 35 Taxes payable 42.9 51.7 54.0 44.9 43.5 41.6 58.1 56.2 56.8 41.6 40.7 35

 36 Foreign direct investment in U.S. 2128.7 2230.7 2417.2 2612.8 2760.3 3010.1 2855.5 2934.9 2960.6 3010.1 3053.5 36

 37 Miscellaneous liabilities 3266.0 3445.7 3658.6 3681.5 4027.0 4040.8 3941.6 3808.5 3856.4 4040.8 4074.1 37

 38 Net worth (market value) 15731.4 16626.0 17251.1 19405.4 20642.8 22211.6 21146.8 21518.4 21855.9 22211.6 22353.0 38

 Memo:

 Replacement-cost value of structures:

 39 Residential 166.3 165.7 171.0 178.2 184.2 188.0 184.5 184.6 186.4 188.0 189.5 39

 40 Nonresidential 7123.9 7425.5 7678.2 7976.6 8227.1 8235.6 8200.4 8172.6 8218.2 8235.6 8219.0 40

 41 Market value of equities outstanding 13996.1 13888.1 15578.8 20593.0 22716.8 21727.0 23108.6 22745.9 20699.2 21727.0 21685.7 41

 42 Debt/net worth (percent) (lines 26+30/line 38) 38.41 38.37 39.01 36.69 36.84 36.49 36.78 36.99 36.82 36.49 36.97 42

 43 Debt/equities (percent) (lines 26+30/line 41) 43.17 45.93 43.19 34.57 33.48 37.30 33.66 34.99 38.88 37.30 38.10 43

 44 Equities/net worth (percent) (line 41/line 38) 88.97 83.53 90.31 106.12 110.05 97.82 109.28 105.70 94.71 97.82 97.01 44

 With nonfinancial assets stated at historical cost:

 45 Assets (sum of lines 7 and 46) 25006.1 25957.6 27053.5 28726.9 30148.7 31557.0 30583.0 30946.0 31175.3 31557.0 31876.6 45

 46 Nonfinancial assets 10989.4 11448.7 11965.2 12466.5 13005.2 13527.7 13184.7 13302.5 13432.0 13527.7 13707.5 46

 47 Real estate 4377.1 4537.7 4726.7 4922.9 5154.3 5371.0 5207.4 5255.7 5315.2 5371.0 5447.1 47

 48 Equipment 3482.4 3592.0 3744.2 3894.2 4067.6 4252.6 4113.3 4158.4 4206.5 4252.6 4293.7 48

 49 Intellectual property products 1570.3 1637.6 1708.9 1789.5 1880.8 1987.5 1906.6 1934.1 1961.0 1987.5 2013.5 49

 50 Inventories 1559.5 1681.4 1785.3 1859.9 1902.5 1916.6 1957.5 1954.2 1949.3 1916.6 1953.2 50

 51 Net worth (historical cost) (line 45 less line 25) 11779.4 12079.2 12358.0 13330.3 13666.2 14339.4 13908.5 14125.5 14213.5 14339.4 14457.7 51

 Memo:

 Historical-cost value of structures:

 52 Residential 81.6 82.7 84.5 87.0 90.1 94.0 91.0 92.0 93.0 94.0 95.1 52

 53 Nonresidential 3808.7 3949.4 4128.7 4317.2 4531.9 4734.2 4583.3 4635.3 4685.5 4734.2 4780.3 53

 54 Debt/net worth (percent) (lines 26+30/line 49) 51.30 52.81 54.45 53.41 55.65 56.51 55.93 56.34 56.62 56.51 57.15 54

(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; amounts outstanding end of period, not seasonally adjusted

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Assets 12554.7 13155.2 14180.7 15565.3 16506.7 17462.5 16801.0 17002.8 17191.1 17462.5 17712.7 1

 2 Nonfinancial assets 8826.4 9230.0 9954.4 11034.4 11740.3 12360.3 11960.1 12075.2 12202.3 12360.3 12541.0 2

 3 Real estate (1) 7670.5 8001.3 8687.7 9727.8 10375.5 11149.2 10635.3 10784.2 10953.9 11149.2 11346.2 3

 4 Residential 4415.3 4608.5 4980.8 5552.3 5841.4 6368.4 6017.6 6127.9 6229.9 6368.4 6469.1 4

 5 Nonresidential 3255.2 3392.8 3706.9 4175.4 4534.0 4780.9 4617.7 4656.3 4724.0 4780.9 4877.1 5

 6 Equipment (2) 709.2 740.7 772.6 804.9 838.2 795.7 829.4 820.3 807.0 795.7 791.4 6

 7 Residential (3) 42.2 43.9 44.4 43.5 42.3 42.2 42.2 42.5 42.2 42.2 41.9 7

 8 Nonresidential 667.0 696.8 728.3 761.5 795.9 753.5 787.2 777.8 764.7 753.5 749.5 8

 9 Intellectual property products (2) 189.9 196.6 204.7 214.6 223.3 143.2 203.1 179.5 156.4 143.2 129.3 9

 10 Inventories (2) 256.9 291.3 289.3 287.1 303.3 272.2 292.3 291.3 285.0 272.2 274.1 10

 11 Financial assets 3728.3 3925.1 4226.3 4531.0 4766.3 5102.2 4840.9 4927.7 4988.8 5102.2 5171.6 11

 12 Checkable deposits and currency 531.6 556.3 615.5 627.6 662.1 702.4 669.6 680.5 687.9 702.4 711.6 12

 13 Time and savings deposits 356.2 362.2 372.3 383.8 409.4 476.4 427.6 435.5 453.7 476.4 495.0 13

 14 Money market fund shares 76.8 77.7 80.7 82.7 86.6 91.5 87.8 89.0 89.8 91.5 92.3 14

 15 Debt securities 53.7 54.8 59.0 59.5 62.3 66.9 63.2 64.4 65.3 66.9 67.8 15

 16 Treasury securities 48.1 48.9 52.9 55.2 57.8 62.0 58.6 59.7 60.5 62.0 62.9 16

 17 Municipal securities 5.6 5.9 6.1 4.4 4.6 4.9 4.6 4.7 4.8 4.9 5.0 17

 18 Loans 42.1 36.3 33.9 34.8 36.5 39.2 37.0 37.7 38.2 39.2 39.7 18

 19 Mortgages 42.1 36.3 33.9 34.8 36.5 39.2 37.0 37.7 38.2 39.2 39.7 19

 20 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Trade receivables 533.4 594.4 598.9 647.8 678.2 728.0 687.9 701.2 710.8 728.0 738.3 21

 22 Miscellaneous assets 2134.4 2243.6 2466.0 2694.8 2831.2 2997.9 2867.8 2919.3 2943.1 2997.9 3026.8 22

 23 Insurance receivables 131.7 127.0 142.5 116.5 129.4 118.4 126.0 123.8 121.6 118.4 117.9 23

 24 Equity investment in GSEs (4) 6.7 7.0 7.2 7.7 8.5 9.0 8.6 8.7 8.9 9.0 9.1 24

 25 Other 1996.0 2109.5 2316.4 2570.5 2693.3 2870.5 2733.2 2786.8 2812.6 2870.5 2899.8 25

 26 Liabilities 5672.2 5643.0 5884.3 6068.7 6349.4 6728.2 6436.7 6535.9 6606.8 6728.2 6803.2 26

 27 Loans 3950.9 3886.6 4057.3 4162.0 4364.4 4674.4 4416.4 4501.2 4563.7 4674.4 4743.1 27

 28 Depository institution loans n.e.c. 927.4 900.9 968.0 1000.4 1064.6 1164.0 1086.7 1115.4 1125.0 1164.0 1197.7 28

 29 Other loans and advances 170.8 171.3 180.6 186.6 196.1 201.9 194.3 195.8 197.9 201.9 200.4 29

 30 Mortgages 2852.7 2814.3 2908.8 2975.0 3103.8 3308.5 3135.4 3190.0 3240.8 3308.5 3345.0 30

 31 Trade payables 427.8 482.7 493.5 527.5 562.3 613.8 577.0 589.7 598.5 613.8 625.5 31

 32 Taxes payable 99.2 99.7 107.4 110.5 114.2 122.8 117.9 119.6 120.7 122.8 124.1 32

 33 Foreign direct investment in U.S. 5.3 6.1 6.3 7.1 7.9 9.4 8.8 9.3 9.5 9.4 9.0 33

 34 Miscellaneous liabilities 1189.0 1168.0 1219.7 1261.5 1300.5 1307.8 1316.7 1316.1 1314.2 1307.8 1301.5 34

 35 Net worth (5) 6882.5 7512.1 8296.4 9496.7 10157.3 10734.2 10364.2 10467.0 10584.3 10734.2 10909.4 35

 Memo:

 Replacement-cost value of structures:

 36 Residential 2839.6 2831.2 2897.1 3029.3 3140.5 3179.5 3139.6 3135.3 3159.3 3179.5 3198.3 36

 37 Nonresidential 1680.2 1730.1 1780.8 1856.9 1924.3 2057.8 1949.7 1973.4 2017.8 2057.8 2092.8 37

 38 Debt/net worth (percent) (line 27/line 35) 57.40 51.74 48.90 43.83 42.97 43.55 42.61 43.00 43.12 43.55 43.48 38

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Included in table B.101, line 29.
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R.101 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) 4221.8 1228.3 6053.7 9785.2 4817.1 3048.9 1818.9 480.5 -1430.7 2180.2 837.4 1

 2 Net investment 943.7 1622.8 1157.9 1233.8 1138.4 1341.4 557.7 2.9 286.9 494.0 457.9 2

 3 Net physical investment 134.9 164.8 259.9 304.5 335.3 432.4 100.7 108.5 110.7 112.5 114.0 3

 4 Capital expenditures 1448.9 1501.3 1627.0 1717.1 1793.4 1897.8 462.3 472.3 479.2 484.0 488.9 4

 5 - Consumption of fixed capital 1314.0 1336.5 1367.0 1412.5 1458.1 1465.3 361.6 363.8 368.5 371.5 374.8 5

 6 Net lending (+) or net borrowing (-) 808.8 1458.0 898.0 929.3 803.1 909.0 457.0 -105.7 176.2 381.4 343.9 6

 7 Net acquisition of financial assets 706.2 1390.6 1156.2 1166.3 1231.0 1310.9 458.1 49.9 271.1 531.7 370.4 7

 8 - Net increase in liabilities -102.5 -67.4 258.2 236.9 428.0 401.9 1.1 155.6 94.9 150.3 26.5 8

 Holding gains on assets

 9 at market value (2) 2589.8 -194.8 4830.3 8145.7 3767.4 1496.3 1335.9 220.2 -1652.8 1593.0 478.4 9

 10 Real estate -377.7 -134.7 1502.0 2355.1 1263.8 1403.2 385.2 284.5 307.8 425.7 453.8 10

 11 Corporate equities 1628.6 -187.7 1567.5 3005.6 1282.1 -123.0 489.4 -113.3 -1167.7 668.6 -176.1 11

 12 Mutual fund shares 447.7 -127.9 565.6 746.9 240.4 -245.3 148.3 -40.9 -475.3 122.5 14.0 12

 13 Equity in noncorporate business 459.2 386.6 701.1 1021.2 635.4 548.1 200.6 96.9 105.7 144.9 170.8 13

 14 Life insurance reserves 19.5 -5.8 21.8 37.4 12.7 -6.1 5.0 -1.3 -17.3 7.5 0.6 14

 15 Pension entitlements 413.5 -126.1 472.3 979.5 333.1 -80.6 107.4 -5.8 -406.0 223.8 15.3 15

 16 Equity investment under PPIP -1.0 0.9 -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) -91.1 22.4 -40.9 -90.3 -100.6 -57.6 -23.5 3.0 -23.6 -13.5 -9.0 17

 18 Consumer durable goods -88.3 17.7 -41.5 -92.6 -102.1 -55.4 -23.9 4.3 -23.4 -12.4 -6.9 18

 19 Equipment -2.4 2.5 -0.7 -0.1 1.0 -1.4 0.7 -0.4 -0.5 -1.1 -1.6 19

 20 Intellectual property products -0.4 2.2 1.2 2.4 0.6 -0.8 -0.3 -0.8 0.3 -0.0 -0.4 20

 21 Other volume changes (3) 779.5 -222.1 106.5 495.9 11.9 268.8 -51.2 254.5 -41.1 106.7 -89.9 21

 Memo:

 22 Net worth outstanding (4) 62316.3 63544.5 69598.3 79383.5 84200.6 87249.5 86019.5 86500.0 85069.4 87249.5 88086.9 22

 23 Disposable personal income 11237.9 11801.4 12403.7 12395.6 12913.9 13403.2 13179.8 13338.3 13486.4 13608.4 13754.2 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 41.
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R.103 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) 1451.4 894.6 625.2 2154.3 1237.4 1568.7 504.0 371.6 337.5 355.6 141.4 1

 2 Net investment 78.5 -589.8 -493.1 14.9 -505.3 -106.5 -41.8 91.0 -65.8 -90.0 -187.8 2

 3 Net physical investment 184.0 262.4 330.8 304.7 385.6 395.7 82.6 135.5 94.4 83.2 79.5 3

 4 Capital expenditures 1235.4 1331.9 1501.2 1539.2 1666.9 1783.7 434.9 469.3 442.7 436.9 428.9 4

 5 - Consumption of fixed capital 1092.4 1137.8 1184.6 1231.3 1284.2 1326.5 327.4 328.7 334.3 336.2 337.3 5

 6 - Inventory valuation adjustment -41.0 -68.3 -14.2 3.2 -2.9 61.5 24.8 5.1 14.1 17.4 12.2 6

 7 Net lending (+) or net borrowing (-) 145.2 -397.5 -479.1 63.2 -498.7 60.5 23.4 78.1 -3.6 -37.5 -91.5 7

 8 Net acquisition of financial assets 632.7 496.8 506.3 989.5 794.2 895.9 241.3 246.6 170.8 237.2 134.6 8

 9 - Net increase in liabilities 487.6 894.3 985.4 926.3 1292.9 835.4 217.9 168.5 174.4 274.7 226.1 9

 10 Net corporate equity issues -250.7 -454.6 -344.9 -352.9 -392.2 -562.7 -147.8 -122.6 -156.6 -135.7 -175.8 10

 Holding gains on assets

 11 at market value (2) 738.4 632.3 516.3 1365.6 1042.1 1029.5 346.6 169.3 264.5 249.0 76.8 11

 12 Real estate 724.7 640.4 500.9 1335.4 1033.7 1035.7 341.9 170.1 280.2 243.4 77.2 12

 13 Mutual fund shares 13.6 -8.1 15.4 30.2 8.4 -6.2 4.7 -0.8 -15.7 5.6 -0.4 13

 Holding gains on assets less

 14 liabilities at current cost (2) 1.9 181.2 101.7 49.6 -92.5 -34.4 69.0 -62.5 -35.4 -5.4 21.0 14

 15 Equipment 41.1 76.6 13.5 12.9 32.5 14.6 10.6 0.4 3.5 0.1 2.8 15

 16 Intellectual property products 22.5 27.9 19.9 39.0 12.7 14.8 -0.5 -3.9 9.9 9.4 9.6 16

 17 Inventories (3) 69.1 33.7 10.5 0.9 -21.3 -8.4 9.5 8.7 -13.4 -13.3 8.6 17

 18 Direct investment abroad -145.6 -47.6 56.0 7.6 -66.1 -152.8 -47.2 -68.6 -50.1 13.1 -0.0 18

 19 - Foreign direct investment in U.S. -14.8 -90.7 -1.9 10.8 50.3 -97.4 -96.6 -0.9 -14.7 14.8 0.0 19

 20 Other volume changes (4) 632.7 670.8 500.3 724.2 793.1 680.1 130.2 173.8 174.2 202.0 231.4 20

 Memo:

 21 Net worth outstanding (5) 15731.4 16626.0 17251.1 19405.4 20642.8 22211.6 21146.8 21518.4 21855.9 22211.6 22353.0 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 38.
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R.104 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) 638.3 629.6 784.3 1200.2 660.6 577.0 207.0 102.7 117.3 149.9 175.2 1

 2 Net capital transfers paid -7.8 -1.6 -4.9 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net investment 174.1 236.0 88.5 178.8 22.2 20.9 5.6 4.9 5.8 4.7 3.3 3

 4 Net physical investment -21.7 16.7 35.6 62.8 70.1 66.6 19.2 17.8 16.0 13.5 9.3 4

 5 Capital expenditures 245.1 281.7 308.6 347.4 367.6 373.4 95.0 94.1 93.1 91.2 87.5 5

 6 - Consumption of fixed capital 266.9 265.0 273.0 284.5 297.5 306.8 75.8 76.2 77.1 77.7 78.2 6

 7 Net lending (+) or net borrowing (-) 29.5 -15.1 -30.7 -62.8 -70.1 -66.6 -19.2 -17.8 -16.0 -13.5 -9.3 7

 8 Net acquisition of financial assets 152.0 196.9 301.1 304.7 235.4 335.8 74.5 86.8 61.1 113.4 69.5 8

 9 - Net increase in liabilities 122.4 211.9 331.8 367.5 305.5 402.4 93.7 104.6 77.1 126.9 78.7 9

 10 Proprietor’s net investment (2) 166.4 234.4 83.6 178.8 22.2 20.9 5.6 4.9 5.8 4.7 3.3 10

 11 Holding gains on real estate (3) 389.8 340.5 686.8 1027.2 627.3 754.4 254.6 143.7 165.2 190.9 192.9 11

 12 Residential 158.4 207.8 386.2 572.3 286.1 517.5 174.2 108.1 99.6 135.6 97.1 12

 13 Nonresidential 231.4 132.8 300.6 454.9 341.3 236.9 80.5 35.6 65.6 55.3 95.8 13

 14 Holding gains on assets at current cost (3) 61.4 45.7 10.8 -10.2 8.5 -200.8 -54.1 -46.4 -54.1 -46.1 -21.4 14

 15 Residential equipment -2.3 1.0 -0.3 -2.1 -2.5 -1.3 -0.4 -0.1 -0.5 -0.3 -0.4 15

 16 Nonresidential equipment 26.0 15.6 6.8 7.2 7.5 -64.1 -14.8 -14.9 -18.5 -15.8 -6.7 16

 17 Intellectual property products 7.2 2.3 2.2 3.6 1.2 -86.1 -22.2 -25.5 -24.3 -14.1 -14.2 17

 18 Inventories 30.7 27.6 2.0 -18.8 2.3 -49.5 -16.6 -5.9 -10.8 -16.2 -0.0 18

 19 - Foreign direct investment in U.S. 0.2 0.8 -0.2 0.2 -0.0 -0.3 0.0 0.0 0.0 -0.3 0.0 19

 20 Other volume changes (4) 20.7 9.0 3.2 4.5 2.6 2.4 0.9 0.6 0.5 0.5 0.4 20

 Memo:

 21 Net worth outstanding (5) 6882.5 7512.1 8296.4 9496.7 10157.3 10734.2 10364.2 10467.0 10584.3 10734.2 10909.4 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 32.

(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 35.
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B.101.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail

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

2010 2011 2012 2013 2014 2015 2015 2016

 Q1 Q2 Q3 Q4 Q1

 1 Assets 76104.3 77124.1 83233.8 93168.2 98368.2 101769.6 100171.2 100795.7 99450.5 101769.6 102624.7 1

 2 Nonfinancial assets 23403.2 23453.4 25151.4 27719.0 29215.2 30991.0 29677.2 30073.3 30467.1 30991.0 31546.6 2

 3 Financial assets 52701.1 53670.7 58082.5 65449.2 69153.0 70778.6 70494.0 70722.4 68983.3 70778.6 71078.1 3

 4 Deposits 8061.6 8702.3 9227.2 9602.4 10210.5 10752.5 10344.0 10316.2 10425.0 10752.5 10853.6 4

 5 Debt securities 4827.7 4428.2 4316.1 4335.1 4081.5 4545.6 4095.0 4275.7 4437.0 4545.6 4466.4 5

 6 Loans 922.8 917.5 918.8 970.3 1023.3 965.8 1024.1 995.0 991.6 965.8 1001.6 6

 7 Equity shares at market value 15060.3 14326.3 16564.3 21763.8 23743.9 23375.2 24536.9 24450.1 22254.0 23375.2 23215.1 7

 8 Directly held 8694.4 8295.0 9669.9 12851.9 14203.3 13994.9 14729.8 14611.9 13256.1 13994.9 13851.6 8

 9 Indirectly held 6365.9 6031.3 6894.4 8911.9 9540.6 9380.3 9807.1 9838.2 8997.9 9380.3 9363.5 9

 10 Life insurance companies 991.4 940.1 1040.2 1322.1 1371.1 1315.8 1393.4 1386.6 1256.5 1315.8 1299.8 10

 11 Private pension funds (1) 2139.7 2065.5 2341.8 3009.9 3289.6 3272.5 3359.1 3373.7 3123.8 3272.5 3282.1 11

 12 Federal govt. retirement funds (1) 128.5 124.0 138.3 195.0 208.2 210.2 216.0 215.6 197.8 210.2 208.0 12

 13 State and local govt. retirement funds (1) 194.8 168.6 181.1 215.2 207.1 197.0 211.0 209.1 189.2 197.0 196.2 13

 14 Mutual funds 2911.5 2733.1 3193.1 4169.7 4464.6 4384.8 4627.6 4653.1 4230.6 4384.8 4377.4 14

 15 Other 23828.8 25296.4 27056.1 28777.5 30093.8 31139.4 30494.0 30685.4 30875.8 31139.4 31541.3 15

 16 Liabilities 13788.1 13579.5 13635.6 13784.7 14167.6 14520.0 14151.7 14295.7 14381.1 14520.0 14537.8 16

 17 Net worth 62316.3 63544.5 69598.3 79383.5 84200.6 87249.5 86019.5 86500.0 85069.4 87249.5 88086.9 17

 Memo:

 Equity shares (line 7) as a percent of

 18 Total assets (line 1) 19.79 18.58 19.90 23.36 24.14 22.97 24.49 24.26 22.38 22.97 22.62 18

 19 Financial assets (line 3) 28.58 26.69 28.52 33.25 34.34 33.03 34.81 34.57 32.26 33.03 32.66 19

(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 15.
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F.101.a Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Net lending (+) or net borrowing (-) 56.4 45.0 24.3 10.8 24.5 11.9 54.6 50.0 87.1 12.9 6.0 -4.9 43.9 1

 2 Net acquisition of financial assets 73.7 78.6 56.4 48.4 54.2 46.0 78.5 86.5 123.4 51.1 59.5 29.9 112.4 2

 3 Checkable deposits and currency 0.5 -1.0 1.3 4.0 1.2 1.7 -2.5 2.3 8.3 2.9 3.1 2.3 5.1 3

 4 Time and savings deposits -0.2 5.4 -6.2 10.4 -2.4 -1.5 0.2 0.2 1.1 0.3 1.1 0.6 0.8 4

 5 Money market fund shares -13.1 4.9 -1.2 32.9 4.0 -13.8 1.1 1.2 9.4 -1.8 7.1 3.8 4.5 5

 6 Security repurchase agreements (2) 0.4 3.1 -2.2 -1.3 6.0 0.5 0.2 0.2 1.4 0.0 1.3 0.7 0.8 6

 7 Debt securities 55.7 21.0 22.9 -17.5 10.0 24.6 16.7 37.9 36.1 22.5 35.5 45.9 30.9 7

 8 Open market paper 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 2.0 4.1 1.3 3.0 4.7 12.4 8

 9 Treasury securities 6.4 13.8 4.8 6.1 6.8 5.1 6.4 16.4 13.9 8.9 11.6 17.5 5.4 9

10 Agency- and GSE-backed securities 4.5 2.6 4.6 3.6 3.1 2.3 2.9 7.6 6.4 4.1 5.4 8.1 2.5 10

11 Municipal securities 0.0 0.5 -0.5 0.0 0.2 0.3 0.4 0.1 0.0 -0.1 0.1 0.1 0.0 11

12 Corporate and foreign bonds 6.6 9.7 8.2 7.9 5.6 4.5 2.4 11.9 11.7 8.3 15.4 15.4 10.5 12

13 Loans 2.0 3.8 1.9 1.9 2.0 1.7 1.9 2.4 4.1 4.4 5.4 1.9 6.0 13

14 Mortgages -0.8 0.9 -0.7 -0.1 0.9 0.9 -0.1 0.9 0.6 0.6 0.9 0.8 1.7 14

15 Other loans and advances 2.8 2.8 2.6 2.0 1.1 0.8 2.0 1.5 3.4 3.7 4.6 1.1 4.3 15

16 Corporate equities 5.2 16.1 15.0 -18.6 18.6 8.9 45.1 -10.4 21.0 -30.6 -40.7 -67.4 15.4 16

17 Mutual fund shares -1.0 2.6 1.2 -3.3 0.7 -0.7 1.5 1.3 2.4 -1.0 0.4 -3.3 -1.0 17

18 Trade receivables (2) 2.8 2.8 2.6 2.0 1.1 1.8 2.1 1.6 3.5 2.6 4.6 1.1 4.3 18

19 Equity in noncorporate business -0.1 -3.9 -6.0 15.2 10.6 7.0 0.2 10.2 8.4 9.7 12.5 12.0 16.3 19

20 Miscellaneous assets (2) 18.6 21.0 24.5 20.5 1.2 15.0 10.1 38.0 24.4 38.3 24.7 31.2 25.0 20

21 Net increase in liabilities 17.3 33.6 32.1 37.6 29.7 34.1 24.0 36.4 36.3 38.2 53.5 34.7 68.5 21

22 Debt securities (municipal securities) 1.5 3.2 3.0 3.8 2.4 1.1 3.2 0.2 6.1 7.1 11.8 10.4 5.8 22

23 Loans 6.0 8.5 8.9 10.5 7.6 12.8 -0.8 -0.8 4.9 3.5 11.6 3.1 13.5 23

24 Depository institution loans n.e.c. 1.6 1.4 1.4 1.6 1.2 2.0 -0.2 -0.1 0.8 0.6 1.9 0.5 2.2 24

25 Other loans and advances -0.0 -0.0 0.3 0.4 -0.2 0.1 0.1 -0.1 0.0 -0.2 -0.1 0.1 -0.3 25

26 Commercial mortgages 4.4 7.2 7.2 8.6 6.6 10.7 -0.8 -0.6 4.1 3.1 9.9 2.5 11.6 26

27 Trade payables 2.4 16.2 9.3 9.4 5.9 6.0 5.2 7.9 8.0 8.9 8.7 4.1 3.8 27

28 Miscellaneous liabilities (2) 7.4 5.8 10.9 13.8 13.8 14.3 16.5 29.1 17.3 18.7 21.4 17.0 45.4 28

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.

(2) Not included in table F.101.
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L.101.a Nonprofit Organizations (1)

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

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Total financial assets 616.3 739.0 773.3 861.2 924.4 992.2 1062.6 1252.6 1456.1 1653.1 1844.2 2026.2 2059.5 1

 2 Checkable deposits and currency 17.0 15.9 17.3 21.3 22.5 24.1 21.6 23.9 32.1 35.0 38.1 40.4 45.5 2

 3 Time and savings deposits 1.5 6.8 0.6 11.1 8.7 7.1 7.3 7.5 8.6 8.9 10.0 10.6 11.4 3

 4 Money market fund shares 15.9 20.8 19.6 52.5 56.5 42.7 43.8 45.1 54.5 52.7 59.8 63.6 68.1 4

 5 Security repurchase agreements (2) 1.7 4.8 2.5 1.3 7.3 7.8 8.0 8.2 9.6 9.6 10.9 11.6 12.5 5

 6 Debt securities 226.7 247.7 270.6 253.1 263.1 287.7 304.5 342.4 378.5 401.0 436.5 482.4 513.2 6

 7 Open market paper 93.6 87.9 93.7 58.5 52.7 65.0 69.7 71.7 75.8 77.1 80.2 84.9 97.3 7

 8 Treasury securities 55.7 69.5 74.3 80.3 87.1 92.2 98.5 114.9 128.8 137.6 149.2 166.8 172.2 8

 9 Agency- and GSE-backed securities 26.3 28.9 33.5 37.1 40.3 42.6 45.5 53.1 59.5 63.6 69.0 77.1 79.6 9

10 Municipal securities 0.1 0.6 0.1 0.2 0.4 0.8 1.1 1.2 1.3 1.2 1.3 1.5 1.5 10

11 Corporate and foreign bonds 51.1 60.8 69.0 77.0 82.6 87.1 89.5 101.4 113.1 121.4 136.8 152.2 162.6 11

12 Loans 28.3 32.0 34.0 35.9 37.9 39.6 41.5 43.9 48.0 52.4 57.8 59.7 65.7 12

13 Mortgages 2.6 3.5 2.8 2.8 3.7 4.6 4.5 5.3 6.0 6.6 7.4 8.3 10.0 13

14 Other loans and advances 25.7 28.5 31.1 33.1 34.3 35.0 37.1 38.6 42.0 45.8 50.3 51.5 55.8 14

15 Corporate equities 145.8 203.0 197.5 214.6 241.1 270.2 308.2 397.1 494.7 604.9 692.0 769.3 708.6 15

16 Mutual fund shares 10.2 15.8 15.3 15.9 17.7 18.5 19.0 24.6 30.4 34.5 38.7 42.7 38.8 16

17 Trade receivables (2) 25.7 28.5 31.1 33.1 34.3 36.1 38.1 39.7 43.2 45.8 50.3 51.5 55.8 17

18 Equity in noncorporate business 26.1 22.2 16.2 31.4 42.0 49.0 49.2 59.4 67.8 77.5 90.0 102.0 118.3 18

19 Miscellaneous assets (2) 92.0 112.9 137.4 158.0 159.2 174.2 184.3 222.2 246.7 285.0 309.7 340.9 365.9 19

20 Liabilities 253.8 287.5 319.5 357.1 386.8 421.0 444.9 481.4 517.7 555.8 609.3 644.1 712.5 20

21 Debt securities (municipal securities) 79.6 82.7 85.7 89.5 91.9 93.0 96.1 96.4 102.4 109.6 121.3 131.7 137.5 21

22 Loans 74.8 83.4 92.2 102.8 110.4 123.1 122.3 121.5 126.4 129.9 141.5 144.7 158.2 22

23 Depository institution loans n.e.c. 11.8 13.1 14.5 16.1 17.3 19.3 19.2 19.1 19.8 20.4 22.3 22.7 24.9 23

24 Other loans and advances 0.3 0.3 0.5 0.9 0.7 0.8 0.9 0.8 0.9 0.7 0.6 0.7 0.4 24

25 Commercial mortgages 62.7 70.0 77.2 85.8 92.3 103.0 102.2 101.6 105.7 108.8 118.7 121.2 132.8 25

26 Trade payables 41.3 57.4 66.8 76.2 82.1 88.1 93.2 101.1 109.1 118.0 126.8 130.9 134.7 26

27 Miscellaneous liabilities (2) 58.2 63.9 74.8 88.6 102.5 116.8 133.3 162.4 179.7 198.4 219.7 236.8 282.1 27

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.

(2) Not included in table L.101.
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S.1.a Total Economy - Current Account

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 1 Gross value added 13129.2 14073.2 14460.1 14619.2 14343.4 14915.2 15556.3 16358.5 16840.8 17560.1 1

 (income approach)

 2 Less: Consumption of fixed capital 1982.0 2136.0 2264.4 2363.4 2368.4 2381.6 2450.6 2534.2 2632.8 2746.7 2

 3 Equals: Net value added 11147.2 11937.2 12195.8 12255.8 11975.0 12533.6 13105.6 13824.3 14208.0 14813.4 3

 4 Compensation of employees (paid) 7097.9 7513.7 7908.8 8090.0 7795.7 7969.5 8277.1 8618.5 8848.7 9258.4 4

 5 Wages and salaries 5703.1 6068.8 6405.7 6543.6 6260.1 6385.6 6641.2 6938.9 7123.5 7487.2 5

 6 Employers’ social contributions 1394.8 1444.9 1503.1 1546.4 1535.6 1583.9 1635.9 1679.6 1725.3 1771.2 6

 7 Taxes on production and imports less subsidies 873.6 940.5 980.0 989.4 967.8 1001.2 1042.6 1074.0 1118.6 1155.8 7

 8 Operating surplus, net 3175.7 3483.0 3307.0 3176.5 3211.6 3562.8 3785.9 4131.7 4240.6 4399.2 8

 9 Plus: Income receipts from the rest of the world 575.8 724.2 875.7 856.9 648.9 720.0 792.6 801.5 826.2 854.3 9

10 Less: Income payments to the rest of the world 483.2 656.6 750.1 684.9 497.8 514.1 546.0 563.9 575.8 591.2 10

11 Equals: Net national income/Balance of primary incomes, net 11239.8 12004.8 12321.4 12427.8 12126.1 12739.5 13352.3 14061.9 14458.3 15076.5 11

12 Operating surplus, net 3175.7 3483.0 3307.0 3176.5 3211.6 3562.8 3785.9 4131.7 4240.6 4399.2 12

13 Compensation of employees (received) 7086.8 7502.3 7898.3 8078.3 7787.0 7961.4 8269.0 8609.9 8839.7 9248.9 13

14 Wages and salaries 5692.0 6057.4 6395.2 6531.9 6251.4 6377.5 6633.2 6930.3 7114.4 7477.8 14

15 Employers’ social contributions 1394.8 1444.9 1503.1 1546.4 1535.6 1583.9 1635.9 1679.6 1725.3 1771.2 15

16 Taxes on production and imports, receivable 934.5 991.9 1034.6 1041.9 1026.1 1057.1 1102.6 1132.1 1178.0 1213.7 16

17 Subsidies paid -60.9 -51.5 -54.6 -52.6 -58.3 -55.9 -60.1 -58.0 -59.4 -57.9 17

18 Property income (received) 5624.9 6618.0 7291.8 6916.9 5815.3 5752.9 6011.3 6248.7 6324.1 6436.2 18

19 Interest 3420.9 4150.9 4706.7 4234.7 3464.1 3230.4 3233.2 3179.8 3054.8 3072.0 19

20 Distributed income of corporations 2164.3 2199.1 2300.9 2390.7 2072.0 2166.7 2410.7 2727.7 2894.3 2958.7 20

21 Dividends 1109.8 1067.3 1234.4 1255.5 989.3 1007.3 1118.0 1326.0 1449.3 1444.4 21

22 Withdrawals from income of quasi-corporations 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1292.8 1401.7 1445.0 1514.3 22

23 Reinvested earnings on U.S. direct investment abroad 20.4 247.8 261.4 265.6 260.9 336.6 345.7 318.7 353.3 381.7 23

24 Rents on land and natural resources 19.4 20.3 22.6 25.9 18.3 19.2 21.7 22.5 21.7 23.8 24

25 Less: Uses of property income (paid) 5521.3 6539.1 7155.7 6733.1 5655.5 5538.8 5756.6 6002.5 6064.7 6163.6 25

26 Interest 3556.3 4328.1 4924.0 4457.7 3661.6 3411.5 3400.4 3343.9 3210.1 3217.7 26

27 Distributed income of corporations 1903.4 2121.2 2160.5 2210.1 1953.8 2045.3 2255.8 2548.4 2748.0 2823.0 27

28 Dividends 848.9 989.4 1093.9 1075.0 871.2 885.9 963.1 1146.7 1303.0 1308.8 28

29 Withdrawals from income of quasi-corporations 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1292.8 1401.7 1445.0 1514.3 29

30 Reinvested earnings on foreign direct investment 42.1 69.5 48.5 39.4 21.9 62.8 78.7 87.6 84.9 99.1 30

31 Rents on land and natural resources 19.4 20.3 22.6 25.9 18.3 19.2 21.7 22.5 21.7 23.8 31

32 Net national income/Balance of primary incomes, net 11239.8 12004.8 12321.4 12427.8 12126.1 12739.5 13352.3 14061.9 14458.3 15076.5 32

33 Plus: Current taxes on income, wealth, etc. (received) 1621.3 1825.9 1929.2 1807.7 1413.1 1601.3 1819.5 1945.2 2126.8 2278.2 33

34 Less: Current taxes on income, wealth, etc. (paid) 1625.6 1830.4 1938.7 1816.9 1421.7 1609.8 1832.3 1959.0 2141.7 2294.1 34

35 Plus: Social benefits (received) 2369.0 2520.3 2663.6 2913.0 3078.2 3270.8 3232.4 3279.8 3497.4 3651.2 35

36 Less: Social contributions (paid) 2375.6 2528.1 2672.2 2923.7 3089.3 3282.4 3245.1 3293.1 3511.1 3665.6 36

37 Plus: Other current transfers (received) 494.8 498.3 533.6 564.1 672.0 723.0 699.4 656.8 683.5 744.1 37

38 Less: Other current transfers (paid) 592.9 584.7 640.6 684.9 789.8 842.2 822.1 769.7 792.6 848.0 38

39 Equals: Disposable income, net 11130.7 11905.9 12196.2 12287.2 11988.6 12600.3 13204.1 13921.8 14320.6 14942.3 39

40 Less: Final consumption expenditures 10774.2 11393.8 11960.2 12382.2 12289.0 12724.4 13220.2 13594.8 13914.3 14422.2 40

41 Equals: Net saving 356.6 512.1 236.0 -95.0 -300.4 -124.1 -16.1 327.0 406.3 520.1 41

 Addendum:

42 Gross value added (line 1) 13129.2 14073.2 14460.1 14619.2 14343.4 14915.2 15556.3 16358.5 16840.8 17560.1 42

43 Plus statistical discrepancy (NIPA) -35.5 -217.3 17.5 99.4 75.3 49.2 -38.3 -203.3 -177.6 -212.0 43

44 Equals: GDP (NIPA, expenditure approach) 13093.7 13855.9 14477.6 14718.6 14418.7 14964.4 15517.9 16155.3 16663.2 17348.1 44

45 Average of GDP and GDI 13111.5 13964.5 14468.9 14668.9 14381.1 14939.8 15537.1 16256.9 16752.0 17454.1 45

46 Statistical discrepancy as a percentage of GDP -0.27 -1.57 0.12 0.68 0.52 0.33 -0.25 -1.26 -1.07 -1.22 46
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 1 Gross value added 13129.2 14073.2 14460.1 14619.2 14343.4 14915.2 15556.3 16358.5 16840.8 17560.1 1

 2 Households and nonprofit institutions serving households 1599.5 1689.4 1749.6 1855.3 1913.6 1928.8 1974.4 2029.4 2086.4 2172.3 2

 3 Nonfinancial noncorporate business 2218.8 2440.1 2513.9 2632.4 2466.4 2546.2 2751.6 2909.8 3015.6 3146.9 3

 4 Nonfinancial corporate business 6532.1 6988.0 7203.9 7256.8 6859.8 7238.7 7592.3 8011.9 8316.8 8641.0 4

 5 Financial business 1034.3 1127.6 1068.8 851.9 1015.4 1042.8 1045.8 1187.3 1173.3 1301.6 5

 6 Federal government 552.7 577.6 605.4 637.6 668.8 704.5 720.9 723.7 715.1 723.9 6

 7 State and local government 1191.7 1250.3 1318.5 1385.2 1419.4 1454.2 1471.4 1496.5 1533.6 1574.5 7

 8 Net saving 356.6 512.1 236.0 -95.0 -300.4 -124.1 -16.1 327.0 406.3 520.1 8

 9 Households and nonprofit institutions serving households 243.1 331.4 309.8 536.7 667.4 630.0 710.1 946.7 589.9 620.2 9

10 Nonfinancial corporate business 411.7 386.5 313.1 296.7 381.0 603.5 584.2 556.3 650.7 618.5 10

11 Financial business 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 134.8 -6.3 80.5 11

12 Federal government -304.7 -227.0 -265.6 -634.0 -1248.8 -1328.7 -1244.1 -1090.1 -640.9 -631.5 12

13 State and local government -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -220.8 -187.1 -167.7 13

 Net capital transfers

14 Households and nonprofit institutions serving households -21.9 16.6 6.8 7.7 -28.4 -20.6 2.0 -5.1 19.8 9.3 14

15 Nonfinancial noncorporate business -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 0.0 15

16 Nonfinancial corporate business -15.5 -0.0 -0.0 -3.7 38.3 20.9 -6.4 -17.0 -5.7 -6.7 16

17 Financial business 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 9.6 0.0 10.0 17

18 Federal government 60.3 43.2 53.0 117.6 186.3 126.3 113.9 85.0 58.1 58.8 18

19 State and local government -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.8 -74.2 -71.4 -71.0 19

20 Rest of the world 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 6.5 -0.8 -0.4 20

21 Gross fixed capital formation 2981.2 3166.0 3201.5 3091.4 2672.7 2691.1 2836.0 3064.3 3185.5 3378.7 21

22 Households and nonprofit institutions serving households 865.0 860.1 736.1 580.4 468.1 452.4 451.9 505.3 558.4 596.2 22

23 Nonfinancial noncorporate business 289.2 305.0 313.5 307.5 248.8 243.1 274.8 312.6 330.8 353.7 23

24 Nonfinancial corporate business 1133.4 1259.9 1348.2 1372.7 1141.9 1181.0 1303.9 1439.9 1498.0 1610.4 24

25 Financial business (nonresidential) 180.0 188.7 211.5 196.2 166.9 162.8 167.5 192.1 206.1 222.6 25

26 Federal government 222.9 238.0 251.4 275.8 284.0 300.0 297.4 284.7 269.4 264.6 26

27 State and local government 290.8 314.3 340.8 358.8 363.0 351.9 340.5 329.7 322.9 331.3 27

28 Consumption of fixed capital 1982.0 2136.0 2264.4 2363.4 2368.4 2381.6 2450.6 2534.2 2632.8 2746.7 28

29 Households and nonprofit institutions serving households 362.1 396.2 413.7 414.6 403.3 400.5 398.2 404.6 427.2 454.8 29

30 Nonfinancial noncorporate business 214.4 232.6 245.6 254.5 253.0 251.8 265.0 273.0 284.5 297.5 30

31 Nonfinancial corporate business 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1139.2 1186.2 1232.2 1285.7 31

32 Financial business (nonresidential) 148.9 156.8 165.4 173.9 177.4 176.7 168.6 174.2 182.7 192.0 32

33 Federal government 189.4 200.7 212.8 226.3 234.5 245.3 257.4 264.3 267.7 270.7 33

34 State and local government 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.9 238.5 246.1 34

35 Change in inventories 59.6 67.0 34.5 -32.0 -147.6 61.5 41.8 61.8 71.8 77.1 35

36 Nonfinancial noncorporate business 7.1 5.3 3.3 -2.3 -16.8 3.6 6.8 -4.0 16.6 13.9 36

37 Nonfinancial corporate business 52.5 61.7 31.2 -29.7 -130.8 57.9 34.9 65.8 55.2 63.2 37

38 Net lending (+) or net borrowing (-) (capital account) -689.3 -586.9 -735.5 -785.6 -457.8 -495.8 -444.8 -258.4 -219.0 -189.5 38

39 Households and nonprofit institutions serving households -228.8 -139.0 -8.2 374.2 640.6 607.2 662.3 858.9 447.1 477.8 39

40 Nonfinancial noncorporate business -68.8 -77.7 -71.1 -47.5 27.0 12.9 -15.1 -30.7 -62.8 -70.2 40

41 Nonfinancial corporate business 150.2 30.7 -26.4 33.8 417.2 439.3 391.4 253.0 334.5 236.2 41

42 Financial business 14.3 28.8 -94.6 -91.2 304.4 263.8 183.3 107.4 -29.7 39.9 42

43 Federal government -396.6 -293.2 -353.9 -780.6 -1475.7 -1508.7 -1397.1 -1193.4 -698.3 -681.4 43

44 State and local government -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -253.6 -209.7 -191.8 44

 Addendum:

45 Statistical discrepancy (NIPA) -35.5 -217.3 17.5 99.4 75.3 49.2 -38.3 -203.3 -177.6 -212.0 45

46 Rest of the world 724.8 804.2 718.0 686.2 382.5 446.6 483.2 461.7 396.6 401.6 46

47 Net lending (+) or net borrowing (-) (financial account) -429.7 -689.3 -321.5 -1245.3 -729.7 -725.3 -565.2 -941.8 195.1 -532.9 47

48 Households and nonprofit institutions serving households -287.9 -411.1 248.6 1304.0 464.2 808.8 1458.0 898.0 929.3 803.1 48

49 Nonfinancial noncorporate business -54.0 -63.9 -57.0 -37.1 44.8 29.5 -15.1 -30.7 -62.8 -70.1 49

50 Nonfinancial corporate business -20.9 -139.0 -208.2 -947.7 548.5 145.2 -397.5 -479.1 63.2 -498.7 50

51 Financial business 350.7 263.0 152.6 -424.0 -62.9 -14.6 70.4 81.3 182.2 22.8 51

52 Federal government -422.8 -310.4 -370.8 -789.1 -1288.6 -1416.9 -1350.0 -1131.2 -660.1 -614.6 52

53 State and local government 5.2 -27.9 -86.6 -351.3 -435.6 -277.2 -331.0 -280.1 -256.7 -175.3 53

 Addendum:

54 Rest of the world 698.5 529.8 151.5 765.2 28.0 268.2 416.7 462.8 373.4 315.1 54

 Total other volume changes

55 Households and nonprofit institutions serving households 305.3 488.1 639.9 1120.0 345.8 1072.6 692.6 312.6 1159.7 539.4 55

56 Nonfinancial noncorporate business -76.1 1.3 -48.7 -315.4 -96.6 179.4 241.8 81.9 183.3 24.7 56

57 Nonfinancial corporate business 288.5 576.9 678.9 -744.2 172.3 379.3 -54.9 -221.2 435.5 54.8 57

58 Financial business 6.3 -381.3 -84.6 964.6 -806.4 -670.5 7.8 -180.9 -1069.8 -370.4 58

59 Federal government -47.0 30.2 9.3 86.7 131.1 -31.0 50.8 42.4 22.2 98.0 59

60 State and local government 185.0 277.4 207.6 -946.7 334.8 44.8 -66.5 249.3 577.1 277.0 60

61 Rest of the world -29.8 -143.4 -538.0 69.8 -339.9 -179.9 -70.6 -4.6 -19.1 -86.5 61

 Holding gains/losses

62 Households and nonprofit institutions serving households 5342.0 3537.0 -461.0 -12012.0 838.5 2498.7 -172.5 4789.4 8055.4 3666.9 62

63 Nonfinancial noncorporate business 1170.7 430.4 140.0 -1124.1 -1149.7 451.4 387.0 697.4 1017.1 635.8 63

64 Nonfinancial corporate business 65.4 -1178.5 -228.6 4344.2 -5140.6 -1282.7 466.9 -1417.6 -3951.9 -1566.5 64

65 Financial business 132.8 -37.9 1337.7 808.8 167.1 -80.5 212.0 -312.3 114.2 -212.5 65

66 Federal government 115.3 116.8 93.3 1.2 -157.9 18.5 37.4 45.3 67.6 56.6 66

67 State and local government 478.9 621.8 466.0 350.5 -71.7 197.4 394.6 244.3 287.0 189.7 67

68 Rest of the world -708.1 -565.2 -761.7 1154.7 -900.5 -192.9 876.2 -351.0 288.6 1012.0 68
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Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 Change in net worth

69 Households and nonprofit institutions serving households 5912.3 4340.0 481.9 -10363.0 1880.1 4221.8 1228.3 6053.7 9785.2 4817.1 69

70 Nonfinancial noncorporate business 1107.5 430.5 91.0 -1436.5 -1241.4 638.3 629.6 784.3 1200.2 660.6 70

71 Nonfinancial corporate business 781.1 -215.1 763.4 3900.4 -4625.6 -320.9 1002.6 -1065.5 -2859.9 -886.5 71

72 Financial business 184.5 -358.6 1204.6 1704.6 -345.5 -501.1 402.0 -367.9 -961.9 -512.4 72

73 Federal government -296.8 -123.3 -216.0 -663.6 -1461.9 -1467.5 -1269.8 -1087.3 -609.3 -535.6 73

74 State and local government 647.7 917.6 660.2 -698.1 58.9 81.6 186.0 347.0 748.4 370.0 74

75 Rest of the world -13.0 95.6 -581.7 1910.8 -857.9 73.9 1288.7 106.1 666.1 1327.1 75

 Net worth

76 Households and nonprofit institutions serving households 61755.4 66095.4 66577.3 56214.4 58094.4 62316.3 63544.5 69598.3 79383.5 84200.6 76

77 Nonfinancial noncorporate business 8400.5 8831.0 8922.1 7485.6 6244.2 6882.5 7512.1 8296.4 9496.7 10157.3 77

78 Nonfinancial corporate business 2233.0 2017.9 2781.3 6681.7 2056.1 1735.3 2737.8 1672.3 -1187.5 -2074.0 78

79 Financial business -1148.8 -1507.4 -302.7 1401.9 1056.4 555.3 957.3 589.3 -372.6 -885.0 79

80 Federal government -4300.1 -4423.4 -4639.4 -5303.0 -6764.9 -8232.5 -9502.3 -10589.6 -11198.9 -11734.5 80

81 State and local government 5149.7 6067.3 6727.6 6029.5 6088.4 6170.0 6356.0 6703.0 7451.4 7821.4 81

82 Rest of the world 1650.7 1746.3 1164.7 3075.4 2217.5 2291.3 3580.1 3686.2 4352.3 5679.4 82
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Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 Current account

 1 Gross value added 1599.5 1689.4 1749.6 1855.3 1913.6 1928.8 1974.4 2029.4 2086.4 2172.3 1

 2 Less: Consumption of fixed capital 362.1 396.2 413.7 414.6 403.3 400.5 398.2 404.6 427.2 454.8 2

 3 Equals: Net value added 1237.5 1293.2 1335.9 1440.7 1510.3 1528.3 1576.1 1624.8 1659.2 1717.6 3

 4 Compensation paid by households and NPISHs 563.4 590.9 616.8 658.2 686.6 696.4 723.9 759.2 780.3 810.0 4

 5 Wages and salaries 466.2 490.9 516.0 549.9 566.1 577.3 597.0 624.7 642.0 667.7 5

 6 Employers’ social contributions 97.1 100.0 100.8 108.3 120.5 119.1 126.9 134.4 138.3 142.2 6

 7 Taxes on production and imports less subsidies 120.7 130.8 135.1 143.2 152.4 152.8 154.9 156.0 158.0 160.2 7

 8 Operating surplus, net 553.4 571.5 584.0 639.3 671.3 679.1 697.2 709.6 720.9 747.4 8

 9 Net national income/Balance of primary incomes, net 9733.1 10437.5 10936.7 11247.7 10643.4 10889.5 11566.0 12269.0 12517.3 13076.8 9

10 Operating surplus, net 553.4 571.5 584.0 639.3 671.3 679.1 697.2 709.6 720.9 747.4 10

11 Compensation of employees (received) 7086.8 7502.3 7898.3 8078.3 7787.0 7961.4 8269.0 8609.9 8839.7 9248.9 11

12 Wages and salaries 5692.0 6057.4 6395.2 6531.9 6251.4 6377.5 6633.2 6930.3 7114.4 7477.8 12

13 Employers’ social contributions 1394.8 1444.9 1503.1 1546.4 1535.6 1583.9 1635.9 1679.6 1725.3 1771.2 13

14 Property income (received) 2722.2 3071.6 3234.6 3303.6 2901.9 2900.2 3207.9 3526.7 3506.8 3633.2 14

15 Interest 1089.4 1216.1 1351.5 1363.0 1265.5 1196.2 1232.9 1290.1 1272.7 1303.4 15

16 Distributed income of corporations 1632.8 1855.5 1883.1 1940.6 1636.4 1704.0 1975.0 2236.6 2234.1 2329.8 16

17 Dividends 578.3 723.7 816.5 805.4 553.7 544.6 682.2 834.9 789.0 815.5 17

18 Withdrawals from income of quasi-corporations (1) 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1292.8 1401.7 1445.0 1514.3 18

19 Less: Uses of property income (interest paid) 629.3 707.9 780.2 773.5 716.8 651.2 608.2 577.3 550.1 552.6 19

20 Net national income/Balance of primary incomes, net 9733.1 10437.5 10936.7 11247.7 10643.4 10889.5 11566.0 12269.0 12517.3 13076.8 20

21 Less: Current taxes on income, wealth, etc. (paid) 1213.2 1357.1 1493.2 1507.8 1152.3 1239.3 1453.2 1511.4 1672.8 1780.2 21

22 Plus: Social benefits (received) 1491.0 1593.1 1697.5 1920.0 2108.8 2281.7 2310.2 2323.6 2385.5 2487.2 22

23 Less: Social contributions (paid) 873.3 922.6 961.4 988.2 964.4 984.1 917.8 951.6 1106.8 1159.0 23

24 Plus: Other current transfers (received) 25.7 21.5 30.6 36.6 38.7 43.0 50.2 42.7 41.2 42.0 24

25 Less: Other current transfers (paid) 126.1 137.0 149.8 157.8 159.8 158.7 156.1 175.0 182.1 180.7 25

26 Equals: Disposable income, net 9037.2 9635.4 10060.3 10550.4 10514.4 10832.2 11399.4 11997.3 11982.2 12486.1 26

27 Less: Final consumption expenditures 8794.1 9304.0 9750.5 10013.6 9847.0 10202.2 10689.3 11050.6 11392.3 11865.9 27

28 Equals: Net saving 243.1 331.4 309.8 536.7 667.4 630.0 710.1 946.7 589.9 620.2 28

 Capital account

29 Net saving less capital transfers 265.0 314.8 303.0 529.0 695.8 650.6 708.1 951.8 570.1 610.9 29

30 Net saving 243.1 331.4 309.8 536.7 667.4 630.0 710.1 946.7 589.9 620.2 30

31 Less: Capital transfers paid (net) -21.9 16.6 6.8 7.7 -28.4 -20.6 2.0 -5.1 19.8 9.3 31

32 Capital formation, net 493.8 453.8 311.2 154.9 55.2 43.4 45.8 92.9 123.0 133.1 32

33 Gross fixed capital formation, excluding consumer durables 865.0 860.1 736.1 580.4 468.1 452.4 451.9 505.3 558.4 596.2 33

34 Residential 738.9 722.7 582.3 425.3 321.1 318.3 321.1 367.9 424.6 456.6 34

35 Nonresidential (nonprofit organizations) 126.1 137.4 153.9 155.1 147.1 134.1 130.8 137.4 133.7 139.7 35

36 Less: Consumption of fixed capital 362.1 396.2 413.7 414.6 403.3 400.5 398.2 404.6 427.2 454.8 36

37 Acquisition of nonproduced nonfinancial assets -9.1 -10.1 -11.2 -11.0 -9.7 -8.5 -7.8 -7.9 -8.2 -8.4 37

38 Net lending (+) or borrowing (-), capital account (lines 29-32) -228.8 -139.0 -8.2 374.2 640.6 607.2 662.3 858.9 447.1 477.8 38

 Financial account

39 Net lending (+) or borrowing (-) (line 38) -228.8 -139.0 -8.2 374.2 640.6 607.2 662.3 858.9 447.1 477.8 39

40 Net acquisition of financial assets 871.3 863.7 1210.1 1313.3 549.5 706.2 1390.6 1156.2 1166.3 1231.0 40

41 Currency and deposits 369.8 451.4 425.1 417.2 197.0 208.3 660.4 581.5 346.2 564.3 41

42 Currency and transferable deposits -113.8 -40.2 -75.2 176.8 100.6 39.0 300.3 177.3 133.9 137.1 42

43 Time and savings deposits 481.6 485.5 482.5 258.3 103.5 164.8 370.0 412.0 210.0 433.6 43

44 Foreign deposits 2.1 6.1 17.8 -17.8 -7.2 4.5 -9.9 -7.9 2.3 -6.4 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 61.6 -134.6 494.0 790.4 -69.4 -130.6 7.2 -95.5 -387.6 -116.6 46

47 Open market paper 14.7 19.0 -10.2 -101.3 16.7 -1.5 -1.8 -0.6 -3.8 -0.1 47

48 Treasury securities -129.1 -96.3 -42.5 151.4 507.2 315.5 -193.6 223.8 -33.7 -241.1 48

49 Agency- and GSE-backed securities (2) 108.7 -50.4 315.2 301.4 -694.0 0.5 83.0 -69.4 -33.6 97.3 49

50 Municipal securities 82.3 39.0 25.6 62.7 111.4 57.1 -42.8 -128.5 -26.3 -45.6 50

51 Corporate and foreign bonds -15.0 -46.0 205.9 376.2 -10.7 -502.1 162.4 -120.9 -290.2 72.9 51

52 Loans -0.9 66.4 219.7 -159.9 -48.3 0.8 -5.3 12.4 51.5 53.0 52

53 Short term -9.0 83.6 232.6 -161.0 -47.4 11.7 -6.2 30.5 57.3 47.6 53

54 Long term (mortgages) 8.1 -17.1 -12.9 1.1 -0.9 -10.9 0.9 -18.1 -5.8 5.4 54
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

55 Equity and investment fund shares -181.5 -131.5 -483.9 -268.7 -140.9 -54.6 83.5 150.2 625.0 255.9 55

56 Corporate equities -366.9 -499.4 -932.0 -251.6 -30.5 -212.4 -257.9 -192.7 176.4 69.3 56

57 Mutual fund shares 193.7 154.9 256.1 54.6 263.8 170.3 128.9 254.0 248.9 181.4 57

58 Money market fund shares 44.6 218.6 238.7 234.4 -267.7 -183.7 -19.6 2.0 28.2 -19.1 58

59 Equity in noncorporate business -52.8 -5.5 -46.7 -306.1 -107.6 167.3 231.5 90.3 173.2 24.2 59

60 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 1.2 4.0 0.5 -3.4 -1.8 0.0 60

61 Insurance, pension and standardized guarantee schemes 622.2 611.9 555.2 534.2 611.1 682.3 644.7 507.6 531.3 474.4 61

62 Insurance receivables due from property-casualty insurance companies 25.6 4.6 6.7 11.0 8.7 -35.2 27.6 -17.7 37.7 -8.4 62

63 Life insurance reserves 11.8 50.3 10.0 54.0 23.1 8.5 71.8 -29.5 9.3 37.0 63

64 Pension entitlements (4) 552.4 524.2 499.2 425.1 554.2 669.5 512.1 543.2 471.7 429.7 64

65 Non-life insurance reserves at life insurance companies 9.5 14.8 15.5 17.6 8.4 17.1 14.8 -1.8 0.4 5.8 65

66 Retiree Health Care Funds 23.0 18.1 23.8 26.5 16.6 22.5 18.5 13.3 12.2 10.4 66

67 Net incurrence of liabilities 1159.2 1274.8 961.6 9.3 85.3 -102.5 -67.4 258.2 236.9 428.0 67

68 Debt securities (municipals) 15.1 16.4 21.1 9.3 5.9 -2.2 -7.8 -14.5 -13.1 -4.8 68

69 Loans 1130.0 1244.3 924.8 -25.3 42.8 -73.6 -60.5 268.1 246.1 428.4 69

70 Short term 69.2 228.8 178.1 -115.6 -27.6 99.6 18.8 341.0 241.5 376.1 70

71 Consumer credit 100.4 120.1 150.6 34.3 -94.6 -28.1 111.1 164.1 175.8 221.8 71

72 Depository institution loans n.e.c. 0.3 44.2 -9.1 4.6 28.3 50.1 -54.9 110.8 28.2 121.1 72

73 Other loans and advances -31.5 64.4 36.6 -154.5 38.7 77.6 -37.4 66.1 37.4 33.2 73

74 Long term (mortgages) 1060.8 1015.5 746.7 90.2 70.4 -173.2 -79.3 -72.9 4.6 52.3 74

75 Insurance, pension and standardized guarantee schemes 1.0 0.5 1.0 3.2 -4.9 2.7 -0.4 0.6 3.0 1.2 75

76 Other accounts payable (trade debt) 13.0 13.6 14.6 22.2 41.4 -29.4 1.2 4.0 1.0 3.1 76

 Addendum:

77 Net lending (+) or borrowing (-), financial account (lines 40-67) -287.9 -411.1 248.6 1304.0 464.2 808.8 1458.0 898.0 929.3 803.1 77

 Other changes in volume account

78 Total other volume changes 305.3 488.1 639.9 1120.0 345.8 1072.6 692.6 312.6 1159.7 539.4 78

79 Net investment in consumer durable goods 252.4 239.6 231.1 134.6 50.3 86.9 119.0 167.1 181.5 202.2 79

80 Disaster losses -50.4 0.0 0.0 -8.3 0.0 0.0 0.0 -20.9 0.0 0.0 80

81 Other volume changes 162.4 520.6 152.0 63.9 471.9 784.1 -222.1 127.3 495.9 11.9 81

82 Less: Statistical discrepancy (lines 38-77) (5) 59.1 272.1 -256.8 -929.8 176.4 -201.6 -795.7 -39.1 -482.3 -325.3 82

 Revaluation account

83 Nonfinancial assets 2801.8 268.7 -1821.7 -3623.7 -1211.6 -468.8 -112.4 1461.1 2264.7 1163.2 83

84 Real estate 2848.6 317.0 -1762.6 -3589.2 -1164.2 -377.7 -134.7 1502.0 2355.1 1263.8 84

85 Consumer durable goods -44.1 -46.9 -55.6 -32.0 -40.8 -88.3 17.7 -41.5 -92.6 -102.1 85

86 Equipment -2.6 -0.6 -3.1 -1.3 -4.7 -2.4 2.5 -0.7 -0.1 1.0 86

87 Intellectual property products -0.1 -0.8 -0.3 -1.2 -2.0 -0.4 2.2 1.2 2.4 0.6 87

88 Financial assets 2540.1 3268.3 1360.7 -8388.2 2050.1 2967.5 -60.1 3328.3 5790.7 2503.7 88

89 Corporate equities 1044.8 1959.0 758.7 -4151.6 1694.4 1628.6 -187.7 1567.5 3005.6 1282.1 89

90 Mutual fund shares -0.7 357.5 231.6 -1582.2 803.5 447.7 -127.9 565.6 746.9 240.4 90

91 Equity in noncorporate business 1185.3 434.0 139.1 -1134.7 -1141.2 459.2 386.6 701.1 1021.2 635.4 91

92 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 -0.3 -1.0 0.9 -0.0 0.0 0.0 92

93 Insurance, pension and standardized guarantee schemes 310.8 517.9 231.3 -1519.7 693.7 433.0 -131.9 494.1 1016.9 345.8 93

94 Changes in net worth due to nominal holding gains/losses 5342.0 3537.0 -461.0 -12012.0 838.5 2498.7 -172.5 4789.4 8055.4 3666.9 94

 Changes in balance sheet account

95 Change in net worth (lines 32+38+78+94) 5912.3 4340.0 481.9 -10363.0 1880.1 4221.8 1228.3 6053.7 9785.2 4817.1 95

 Balance sheet account (end of period)

96 Total assets 73917.6 79551.6 80967.0 70487.1 72160.0 76104.3 77124.1 83233.8 93168.2 98368.2 96

97 Nonfinancial assets 28506.3 29469.7 28191.1 24849.1 23743.9 23403.2 23453.4 25151.4 27719.0 29215.2 97

98 Real estate 24113.0 24860.4 23381.6 19914.9 18787.5 18434.7 18327.7 19884.8 22350.7 23731.5 98

99 Consumer durable goods 4107.8 4300.5 4476.0 4578.6 4588.1 4586.7 4723.3 4848.9 4937.8 5037.8 99

100 Equipment 206.1 226.0 245.8 264.0 271.9 280.1 293.0 301.8 309.1 320.0 100

101 Intellectual property products 79.5 82.8 87.6 91.6 96.4 101.8 109.4 115.9 121.5 125.9 101

102 Financial assets 45411.2 50081.9 52776.0 45638.0 48416.1 52701.1 53670.7 58082.5 65449.2 69153.0 102

103 Currency and deposits 5311.6 5789.3 6209.3 6591.5 6774.0 6932.9 7593.2 8116.2 8463.1 9090.3 103

104 Currency and transferable deposits 286.0 239.6 153.4 295.2 395.8 423.5 723.8 887.5 1021.4 1158.5 104

105 Foreign deposits 63.8 69.9 87.7 69.9 62.7 67.3 57.4 49.5 51.7 45.3 105

106 Time and savings deposits 4961.7 5479.8 5968.2 6226.4 6315.4 6442.2 6812.1 7179.2 7389.9 7886.4 106

107 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 107
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108 Debt securities 3458.1 3401.1 3955.2 4692.4 4813.9 4827.7 4428.2 4316.1 4335.1 4081.5 108

109 Open market paper 98.4 117.5 107.3 6.0 22.7 21.1 19.4 18.8 15.0 14.9 109

110 Treasury securities 423.7 333.9 199.9 173.5 840.0 1106.7 702.0 943.9 1144.9 842.1 110

111 Agency- and GSE-backed securities (2) 563.7 584.9 803.1 1014.6 314.3 289.8 330.6 239.9 279.7 336.5 111

112 Municipal securities 1571.8 1611.2 1666.9 1767.3 1842.3 1905.7 1826.6 1679.2 1692.6 1605.1 112

113 Corporate and foreign bonds 800.5 753.7 1178.0 1731.0 1794.7 1504.4 1549.7 1434.4 1202.9 1282.9 113

114 Loans 772.9 908.1 1127.8 967.9 922.0 922.8 917.5 918.8 970.3 1023.3 114

115 Short term 632.1 784.5 1017.1 856.1 811.0 822.7 816.6 836.0 893.2 940.8 115

116 Long term (mortgages) 140.8 123.6 110.7 111.8 110.9 100.1 100.9 82.8 77.1 82.5 116

117 Equity and investment fund shares 20870.3 23970.0 24617.0 17482.1 18709.2 21202.1 21368.5 24351.1 29754.3 32170.6 117

118 Corporate equities 8231.9 10190.9 10017.6 5614.4 7278.3 8694.4 8295.0 9669.9 12851.9 14203.3 118

119 Mutual fund shares 3283.7 3831.4 4319.1 2791.5 3858.7 4476.7 4435.2 5254.7 6250.5 6672.4 119

120 Money market fund shares 942.5 1107.0 1345.7 1580.0 1312.3 1128.6 1109.1 1111.1 1139.3 1120.2 120

121 Equity in noncorporate business 8412.2 8840.7 8934.7 7496.2 6259.0 6898.4 7524.0 8313.7 9512.6 10174.7 121

122 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.9 3.8 5.2 1.8 0.0 0.0 122

123 Insurance, pension and standardized guarantee schemes 14998.4 16013.4 16866.5 15904.2 17197.1 18815.7 19363.4 20380.3 21926.3 22787.3 123

124 Insurance receivables due from property-casualty insurance companies 316.0 320.5 327.3 337.3 346.0 310.8 338.4 320.7 358.4 350.0 124

125 Life insurance reserves 1082.6 1055.2 1077.2 1050.2 1109.5 1137.5 1199.3 1186.4 1233.0 1282.8 125

126 Pension entitlements (4) 13307.1 14312.1 15077.2 14087.7 15287.5 16873.8 17298.8 18334.7 19783.8 20587.3 126

127 Non-life insurance reserves at life insurance companies 217.3 232.1 247.6 265.2 273.6 290.7 305.5 303.7 304.2 310.0 127

128 Retiree Health Care Funds 75.4 93.5 137.3 163.8 180.4 202.9 221.4 234.8 246.9 257.3 128

129 Total liabilities and net worth 73917.6 79551.6 80967.0 70487.1 72160.0 76104.3 77124.1 83233.8 93168.2 98368.2 129

130 Liabilities 12162.2 13456.2 14389.7 14272.8 14065.6 13788.1 13579.5 13635.6 13784.7 14167.6 130

131 Debt securities (municipals) 212.7 229.1 250.2 259.5 265.4 263.2 255.5 241.0 227.8 223.1 131

132 Loans 11740.8 13004.4 13901.1 13749.5 13499.9 13251.3 13049.8 13115.7 13274.0 13657.3 132

133 Short term 2655.5 2903.5 3084.2 2968.6 2876.2 3122.6 3146.7 3426.0 3667.5 4043.6 133

134 Consumer credit 2320.6 2456.7 2609.9 2644.2 2555.4 2647.2 2758.3 2920.4 3096.2 3318.0 134

135 Depository institution loans n.e.c. -16.5 30.9 21.8 26.4 -15.9 61.0 11.5 62.6 90.8 211.9 135

136 Other loans and advances 351.5 415.9 452.5 298.0 336.7 414.3 376.9 443.1 480.5 513.7 136

137 Long term (mortgages) 9085.3 10100.8 10816.9 10780.9 10623.7 10128.8 9903.0 9689.7 9606.5 9613.7 137

138 Insurance, pension and standardized guarantee schemes 22.4 22.8 23.9 27.0 22.1 24.7 24.3 24.9 27.9 29.1 138

139 Other accounts payable (trade debt) 186.3 199.9 214.5 236.7 278.2 248.8 250.0 254.0 255.0 258.1 139

140 Net worth 61755.4 66095.4 66577.3 56214.4 58094.4 62316.3 63544.5 69598.3 79383.5 84200.6 140

(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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 Current account

 1 Gross value added 2218.8 2440.1 2513.9 2632.4 2466.4 2546.2 2751.6 2909.8 3015.6 3146.9 1

 2 Less: Consumption of fixed capital 214.4 232.6 245.6 254.5 253.0 251.8 265.0 273.0 284.5 297.5 2

 3 Equals: Net value added 2004.4 2207.5 2268.3 2378.0 2213.4 2294.4 2486.6 2636.8 2731.1 2849.4 3

 4 Compensation of employees (paid) 664.7 747.4 827.5 843.4 805.4 816.6 845.9 892.6 919.6 971.8 4

 5 Wages and salaries 557.9 631.2 701.8 712.1 675.0 684.6 713.1 752.7 774.8 822.0 5

 6 Employers’ social contributions 106.8 116.3 125.7 131.3 130.4 131.9 132.8 139.9 144.8 149.8 6

 7 Taxes on production and imports less subsidies 130.2 147.0 157.6 157.9 145.4 150.7 158.7 167.5 175.8 180.6 7

 8 Operating surplus, net 1209.4 1313.0 1283.2 1376.7 1262.6 1327.1 1482.0 1576.7 1635.7 1697.1 8

 9 Net national income/Balance of primary incomes, net 21.8 22.7 19.8 15.0 21.0 23.0 25.5 27.3 29.3 26.6 9

10 Operating surplus, net 1209.4 1313.0 1283.2 1376.7 1262.6 1327.1 1482.0 1576.7 1635.7 1697.1 10

11 Property income (interest received) 18.1 19.1 17.7 13.6 9.4 8.4 9.1 10.6 9.6 12.1 11

12 Less: Uses of property income (paid) 1205.7 1309.5 1281.1 1375.3 1251.0 1312.5 1465.5 1560.1 1616.0 1682.6 12

13 Interest 198.8 227.6 254.2 263.1 242.7 237.9 226.9 226.1 219.1 219.7 13

14 Withdrawals from income of quasi-corporations (1) 1006.8 1081.8 1026.8 1112.2 1008.3 1074.5 1238.4 1333.8 1396.7 1462.6 14

15 Reinvested earnings on foreign direct investment 0.1 0.1 0.1 0.1 0.0 0.1 0.2 0.2 0.2 0.2 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 21.8 22.7 19.8 15.0 21.0 23.0 25.5 27.3 29.3 26.6 17

18 Less: Other current transfers (paid) 21.8 22.7 19.8 15.0 21.0 23.0 25.5 27.3 29.3 26.6 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 13.1 0.0 0.0 3.3 6.0 7.8 1.6 4.9 0.0 -0.0 21

22 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Less: Capital transfers paid (net) -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 0.0 23

24 Capital formation, net 81.9 77.7 71.1 50.8 -21.0 -5.1 16.7 35.6 62.9 70.2 24

25 Gross fixed capital formation 289.2 305.0 313.5 307.5 248.8 243.1 274.8 312.6 330.8 353.7 25

26 Nonresidential 180.5 198.9 215.0 223.8 182.9 184.9 214.6 243.7 252.8 268.1 26

27 Residential 108.7 106.2 98.5 83.7 65.8 58.3 60.2 68.9 78.0 85.6 27

28 Less: Consumption of fixed capital 214.4 232.6 245.6 254.5 253.0 251.8 265.0 273.0 284.5 297.5 28

29 Change in private inventories 7.1 5.3 3.3 -2.3 -16.8 3.6 6.8 -4.0 16.6 13.9 29

30 Net lending (+) or borrowing (-), capital account (lines 21-24) -68.8 -77.7 -71.1 -47.5 27.0 12.9 -15.1 -30.7 -62.8 -70.2 30

 Financial account

31 Net lending (+) or borrowing (-) (line 30) -68.8 -77.7 -71.1 -47.5 27.0 12.9 -15.1 -30.7 -62.8 -70.2 31

32 Net acquisition of financial assets 437.3 519.9 479.5 97.3 -117.1 152.0 196.9 301.1 304.7 235.4 32

33 Currency and deposits 100.2 95.0 81.8 2.5 10.1 0.2 30.6 69.3 23.6 60.1 33

34 Currency and transferable deposits 76.7 74.7 66.9 3.8 14.9 -2.7 24.6 59.3 12.0 34.6 34

35 Time and savings deposits 23.5 20.3 14.9 -1.2 -4.8 2.9 6.0 10.1 11.5 25.5 35

36 Debt securities 6.1 1.5 2.5 -7.9 -5.5 2.5 1.1 4.2 0.5 2.8 36

37 Treasury securities 6.0 0.2 3.0 -7.5 -5.7 1.9 0.8 4.0 2.2 2.6 37

38 Municipal securities 0.1 1.3 -0.5 -0.4 0.2 0.5 0.3 0.2 -1.7 0.2 38

39 Loans 5.3 -1.5 7.4 -3.0 -1.2 4.2 -5.8 -2.4 1.0 1.6 39

40 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Long term (mortgages) 5.3 -1.5 7.4 -3.0 -1.2 4.2 -5.8 -2.4 1.0 1.6 41

42 Equity and investment fund shares 2.4 3.3 2.9 2.2 -1.7 3.5 1.1 3.2 2.6 4.6 42

43 Money market mutual fund shares 2.4 3.2 2.2 1.0 -1.7 3.1 0.8 3.0 2.0 3.9 43

44 Equity in government-sponsored enterprises (2) -0.1 0.2 0.7 1.2 -0.0 0.4 0.3 0.1 0.6 0.8 44

45 Insurance, pension and standardized guarantee schemes (3) 5.5 4.4 3.7 3.4 -9.8 29.9 -4.7 15.4 -26.0 12.9 45

46 Other accounts receivable 317.8 417.2 381.1 100.0 -109.0 111.8 174.5 211.4 303.0 153.3 46

47 Trade receivables 66.6 40.0 54.7 -3.0 -26.3 37.0 61.0 4.6 48.8 30.4 47

48 Other (miscellaneous assets) 251.2 377.2 326.4 102.9 -82.7 74.7 113.5 206.9 254.1 122.8 48

49 Net incurrence of liabilities 491.3 583.8 536.5 134.4 -161.8 122.4 211.9 331.8 367.5 305.5 49

50 Loans 341.8 415.4 463.2 325.5 -97.1 -19.4 -56.8 175.1 109.1 205.0 50

51 Short term 164.3 132.1 154.5 131.8 -107.3 -12.1 -25.9 73.8 38.5 73.6 51

52 Depository institution loans n.e.c. 157.9 115.3 140.9 119.6 -102.0 -16.8 -26.5 64.6 32.4 64.2 52

53 Other loans and advances 6.4 16.8 13.7 12.3 -5.3 4.7 0.6 9.2 6.1 9.4 53

54 Long term (mortgages) 177.5 283.3 308.7 193.7 10.2 -7.4 -30.9 101.3 70.7 131.4 54
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55 Equity and investment fund shares -51.6 0.4 -50.5 -317.9 -108.0 166.7 234.4 84.0 179.4 23.0 55

56 Equity in noncorporate business -51.6 1.3 -50.3 -317.7 -108.2 166.4 234.4 83.6 178.8 22.2 56

57 Foreign direct investment in the United States 0.1 -0.9 -0.2 -0.2 0.1 0.3 0.0 0.4 0.6 0.8 57

58 Other accounts payable 201.0 168.0 123.7 126.8 43.3 -24.8 34.4 72.7 79.0 77.5 58

59 Trade payables 49.7 14.3 26.0 5.8 16.9 30.3 54.8 13.3 34.0 34.8 59

60 Taxes payable 8.7 9.0 3.8 6.7 -6.3 -0.7 0.6 7.6 3.2 3.7 60

61 Other (miscellaneous liabilities) 142.7 144.6 93.9 114.3 32.6 -54.3 -21.0 51.8 41.8 39.0 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 32-49) -54.0 -63.9 -57.0 -37.1 44.8 29.5 -15.1 -30.7 -62.8 -70.1 62

 Other changes in volume account

63 Total other volume changes -76.1 1.3 -48.7 -315.4 -96.6 179.4 241.8 81.9 183.3 24.7 63

64 Disaster losses -24.5 0.0 0.0 -4.4 0.0 -2.1 0.0 -8.6 -0.0 0.0 64

65 Other volume changes -51.6 1.3 -48.7 -311.0 -96.6 181.4 241.8 90.5 183.3 24.7 65

 Revaluation account

66 Nonfinancial assets 1170.7 430.4 140.0 -1124.1 -1149.7 451.4 387.0 697.4 1017.1 635.8 66

67 Real estate 1135.4 394.4 86.0 -1159.7 -1175.6 389.8 340.5 686.8 1027.2 627.3 67

68 Residential 793.5 63.0 -360.7 -797.6 -473.4 158.4 207.8 386.2 572.3 286.1 68

69 Nonresidential 341.9 331.4 446.7 -362.1 -702.2 231.4 132.8 300.6 454.9 341.3 69

70 Equipment 22.8 28.4 24.2 34.6 18.7 23.6 16.5 6.5 5.1 5.0 70

71 Residential 1.1 0.7 -0.5 0.1 -2.7 -2.3 1.0 -0.3 -2.1 -2.5 71

72 Nonresidential 21.8 27.7 24.7 34.4 21.4 26.0 15.6 6.8 7.2 7.5 72

73 Intellectual property products 7.5 8.5 8.6 6.4 7.5 7.2 2.3 2.2 3.6 1.2 73

74 Inventories 5.0 -0.9 21.2 -5.4 -0.3 30.7 27.6 2.0 -18.8 2.3 74

75 Liabilities (direct investment in the U.S.) 0.2 1.2 0.2 0.3 1.0 0.2 0.8 -0.2 0.2 -0.0 75

76 Changes in net worth due to nominal holding gains/losses 1170.5 429.2 139.7 -1124.4 -1150.7 451.2 386.2 697.5 1016.9 635.8 76

 Changes in balance sheet account

77 Change in net worth (lines 24+30+63+76) 1107.5 430.5 91.0 -1436.5 -1241.4 638.3 629.6 784.3 1200.2 660.6 77

 Balance sheet account (end of period)

78 Total assets 12581.0 13595.1 14271.6 13280.8 11975.2 12554.7 13155.2 14180.7 15565.3 16506.7 78

79 Nonfinancial assets 9984.2 10478.5 10675.5 9587.4 8398.9 8826.4 9230.0 9954.4 11034.4 11740.3 79

80 Real estate 9043.7 9475.6 9598.7 8469.5 7296.8 7670.5 8001.3 8687.7 9727.8 10375.5 80

81 Residential (4) 5805.2 5896.3 5554.0 4757.2 4273.8 4415.3 4608.5 4980.8 5552.3 5841.4 81

82 Nonresidential 3238.5 3579.3 4044.7 3712.3 3023.0 3255.2 3392.8 3706.9 4175.4 4534.0 82

83 Equipment 574.4 620.5 659.4 699.6 696.3 709.2 740.7 772.6 804.9 838.2 83

84 Residential 41.7 44.4 45.5 46.6 44.0 42.2 43.9 44.4 43.5 42.3 84

85 Nonresidential 532.7 576.1 613.9 653.0 652.4 667.0 696.8 728.3 761.5 795.9 85

86 Intellectual property products 147.6 159.5 170.1 178.6 183.2 189.9 196.6 204.7 214.6 223.3 86

87 Inventories 218.4 222.8 247.3 239.6 222.5 256.9 291.3 289.3 287.1 303.3 87

88 Financial assets 2596.8 3116.6 3596.1 3693.4 3576.3 3728.3 3925.1 4226.3 4531.0 4766.3 88

89 Currency and deposits 698.3 793.2 875.0 877.6 887.7 887.9 918.5 987.8 1011.4 1071.5 89

90 Currency and transferable deposits 374.2 448.8 515.7 519.5 534.4 531.6 556.3 615.5 627.6 662.1 90

91 Time and savings deposits 324.1 344.4 359.3 358.1 353.3 356.2 362.2 372.3 383.8 409.4 91

92 Debt securities 60.6 62.1 64.6 56.7 51.2 53.7 54.8 59.0 59.5 62.3 92

93 Treasury securities 56.2 56.3 59.3 51.8 46.1 48.1 48.9 52.9 55.2 57.8 93

94 Municipal securities 4.4 5.8 5.3 4.9 5.1 5.6 5.9 6.1 4.4 4.6 94

95 Loans 36.2 34.6 42.1 39.1 37.9 42.1 36.3 33.9 34.8 36.5 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) 36.2 34.6 42.1 39.1 37.9 42.1 36.3 33.9 34.8 36.5 97

98 Equity and investment fund shares 73.1 76.5 79.3 81.7 80.1 83.5 84.7 87.8 90.4 95.1 98

99 Money market mutual fund shares 69.0 72.2 74.3 75.4 73.7 76.8 77.7 80.7 82.7 86.6 99

100 Equity in government-sponsored enterprises (2) 4.1 4.3 5.0 6.4 6.3 6.7 7.0 7.2 7.7 8.5 100

101 Insurance, pension and standardized guarantee schemes (3) 99.3 103.7 107.4 111.6 101.8 131.7 127.0 142.5 116.5 129.4 101

102 Other accounts receivable 1629.3 2046.5 2427.6 2526.6 2417.6 2529.4 2703.9 2915.3 3218.3 3371.5 102

103 Trade receivables 430.9 470.9 525.6 522.7 496.3 533.4 594.4 598.9 647.8 678.2 103

104 Other (miscellaneous assets) 1198.4 1575.6 1902.0 2003.9 1921.3 1996.0 2109.5 2316.4 2570.5 2693.3 104
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

105 Total liabilities and net worth 12581.0 13595.1 14271.6 13280.8 11975.2 12554.7 13155.2 14180.7 15565.3 16506.7 105

106 Liabilities 4180.5 4764.1 5349.5 5795.2 5731.0 5672.2 5643.0 5884.3 6068.7 6349.4 106

107 Loans 2898.0 3313.4 3775.1 4094.0 3985.4 3950.9 3886.6 4057.3 4162.0 4364.4 107

108 Short term 805.2 937.3 1091.8 1223.7 1116.4 1098.2 1072.3 1148.6 1187.0 1260.6 108

109 Depository institution loans n.e.c. 670.5 785.8 926.7 1046.2 944.2 927.4 900.9 968.0 1000.4 1064.6 109

110 Other loans and advances 134.6 151.5 165.2 177.4 172.1 170.8 171.3 180.6 186.6 196.1 110

111 Long term (mortgages) 2092.9 2376.1 2683.3 2870.3 2869.0 2852.7 2814.3 2908.8 2975.0 3103.8 111

112 Equity and investment fund shares (direct investment in the U.S.) 3.3 3.6 3.6 3.7 4.8 5.3 6.1 6.3 7.1 7.9 112

113 Other accounts payable 1279.1 1447.1 1570.8 1697.6 1740.8 1716.0 1750.4 1820.6 1899.6 1977.1 113

114 Trade payables 334.5 348.9 374.9 380.7 397.6 427.8 482.7 493.5 527.5 562.3 114

115 Taxes payable 86.7 95.7 99.5 106.2 99.9 99.2 99.7 107.4 110.5 114.2 115

116 Other (miscellaneous liabilities) 857.9 1002.5 1096.4 1210.7 1243.3 1189.0 1168.0 1219.7 1261.5 1300.5 116

117 Net worth 8400.5 8831.0 8922.1 7485.6 6244.2 6882.5 7512.1 8296.4 9496.7 10157.3 117

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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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 Current account

 1 Gross value added 6532.1 6988.0 7203.9 7256.8 6859.8 7238.7 7592.3 8011.9 8316.8 8641.0 1

 2 Less: Consumption of fixed capital 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1139.2 1186.2 1232.2 1285.7 2

 3 Equals: Net value added 5622.2 6008.7 6163.6 6162.8 5767.8 6144.2 6453.1 6825.7 7084.6 7355.2 3

 4 Compensation of employees (paid) 3930.3 4129.3 4305.3 4358.0 4088.4 4158.7 4363.4 4593.3 4747.4 4995.8 4

 5 Wages and salaries 3238.0 3420.9 3572.1 3619.5 3377.5 3446.1 3622.9 3826.4 3953.5 4178.9 5

 6 Employers’ social contributions 692.3 708.5 733.3 738.5 710.9 712.6 740.4 766.9 793.9 816.9 6

 7 Taxes on production and imports less subsidies 573.2 610.1 632.5 632.7 605.9 633.0 670.6 690.4 724.9 745.2 7

 8 Operating surplus, net 1118.7 1269.3 1225.8 1172.2 1073.5 1352.5 1419.1 1542.0 1612.3 1614.3 8

 9 Net national income/Balance of primary incomes, net 757.8 764.6 669.1 574.5 630.6 907.3 903.4 916.9 1030.4 1019.9 9

10 Operating surplus, net 1118.7 1269.3 1225.8 1172.2 1073.5 1352.5 1419.1 1542.0 1612.3 1614.3 10

11 Property income (received) 614.6 644.1 687.4 626.9 563.8 580.3 549.6 531.0 549.9 590.8 11

12 Interest 296.9 357.6 379.4 302.8 214.6 177.5 176.3 162.2 152.1 168.8 12

13 Distributed income of corporations (dividends) 300.3 79.7 92.3 108.0 139.0 134.4 94.8 106.9 105.5 103.1 13

14 Reinvested earnings on U.S. direct investment abroad 17.4 206.9 215.7 216.1 210.2 268.3 278.5 261.8 292.3 318.9 14

15 Less: Uses of property income (paid) 975.6 1148.8 1244.1 1224.6 1006.8 1025.4 1065.3 1156.1 1131.8 1185.2 15

16 Interest 451.0 521.1 605.7 584.5 480.0 444.5 444.3 438.2 410.9 403.1 16

17 Distributed income of corporations (dividends) 471.1 550.8 576.9 582.2 490.4 509.9 535.8 624.8 630.7 676.9 17

18 Reinvested earnings on foreign direct investment 34.0 56.6 38.9 32.1 18.1 51.8 63.5 70.6 68.5 81.4 18

19 Rent 19.4 20.3 22.6 25.9 18.2 19.2 21.7 22.5 21.7 23.8 19

20 Net national income/Balance of primary incomes, net 757.8 764.6 669.1 574.5 630.6 907.3 903.4 916.9 1030.4 1019.9 20

21 Less: Current taxes on income, wealth, etc. (paid) 271.9 307.7 293.8 227.4 177.8 220.6 228.8 266.7 284.6 316.2 21

22 Less: Other current transfers (paid) 74.2 70.4 62.2 50.3 71.8 83.3 90.4 93.9 95.1 85.1 22

23 Equals: Disposable income, net 411.7 386.5 313.1 296.7 381.0 603.5 584.2 556.3 650.7 618.5 23

24 Equals: Net saving 411.7 386.5 313.1 296.7 381.0 603.5 584.2 556.3 650.7 618.5 24

 Capital account

25 Net saving less capital transfers 427.2 386.5 313.1 300.4 342.7 582.5 590.6 573.3 656.5 625.2 25

26 Net saving 411.7 386.5 313.1 296.7 381.0 603.5 584.2 556.3 650.7 618.5 26

27 Less: Capital transfers paid (net) -15.5 -0.0 -0.0 -3.7 38.3 20.9 -6.4 -17.0 -5.7 -6.7 27

28 Capital formation, net 277.0 355.8 339.5 266.6 -74.6 143.3 199.1 320.3 322.0 389.0 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 1133.4 1259.9 1348.2 1372.7 1141.9 1181.0 1303.9 1439.9 1498.0 1610.4 29

30 Less: Consumption of fixed capital 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1139.2 1186.2 1232.2 1285.7 30

31 Acquisition of nonproduced nonfinancial assets 1.0 13.6 0.4 17.6 6.3 -1.1 -0.5 0.8 1.0 1.2 31

32 Change in private inventories 52.5 61.7 31.2 -29.7 -130.8 57.9 34.9 65.8 55.2 63.2 32

33 Net lending (+) or borrowing (-), capital account (lines 25-28) 150.2 30.7 -26.4 33.8 417.2 439.3 391.4 253.0 334.5 236.2 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 150.2 30.7 -26.4 33.8 417.2 439.3 391.4 253.0 334.5 236.2 34

35 Net acquisition of financial assets 944.5 700.1 1072.8 -608.8 299.8 632.7 496.8 506.3 989.5 794.2 35

36 Currency and deposits 120.6 -84.8 -62.4 -214.0 254.5 148.6 38.3 -11.7 141.5 8.6 36

37 Currency and transferable deposits 60.8 -117.2 -7.6 -59.0 70.8 79.6 30.8 -45.5 63.5 39.0 37

38 Time and savings deposits 49.9 46.6 -55.7 -129.4 176.9 59.9 13.2 33.3 35.8 -21.5 38

39 Foreign deposits 9.9 -14.2 0.9 -25.5 6.8 9.1 -5.8 0.6 42.1 -8.9 39

40 Debt securities 40.4 -1.2 -61.7 -25.7 16.3 15.6 -8.5 -12.5 -13.2 9.3 40

41 Open market paper 16.0 11.7 -53.2 -12.2 -1.3 12.0 -0.1 -8.4 -6.6 3.5 41

42 Treasury securities 18.1 -6.7 -7.1 -7.9 12.5 5.1 -5.1 -3.5 -0.6 2.5 42

43 Agency- and GSE-backed securities (1) 6.0 -2.2 -2.4 -2.6 4.2 1.7 -1.7 -1.2 -4.2 4.8 43

44 Municipal securities 0.3 -4.0 1.1 -3.0 0.9 -3.2 -1.6 0.6 -1.7 -1.5 44

45 Loans 10.2 -13.0 -24.4 -11.1 -7.2 0.2 2.2 -3.8 -4.0 18.7 45

46 Short term (security repos and consumer credit) 8.5 -4.6 -5.9 -3.4 -3.1 1.7 2.7 -1.9 -5.6 13.8 46

47 Long term (mortgages) 1.7 -8.4 -18.4 -7.7 -4.1 -1.6 -0.6 -1.9 1.6 4.9 47

48 Equity and investment fund shares 142.5 334.9 374.6 423.5 224.3 183.5 364.0 377.2 360.7 339.4 48

49 Money market fund shares 52.7 69.1 127.2 178.5 -71.4 -157.7 -35.4 57.1 39.7 -0.9 49

50 Mutual fund shares 0.7 23.6 -4.9 -16.5 35.3 11.1 -12.8 -1.7 1.2 15.1 50

51 U.S. direct investment abroad 24.7 219.2 307.0 262.6 269.7 303.3 403.9 319.2 305.0 311.0 51

52 Equity in government-sponsored enterprises (1) 0.0 0.1 0.1 -0.1 0.0 0.1 -0.0 0.0 0.0 0.1 52

53 Investment in finance company subsidiaries 64.4 22.9 -54.8 -1.1 -9.3 26.7 8.4 2.6 14.7 14.1 53

54 Insurance, pension and standardized guarantee schemes (2) 21.2 7.6 8.3 10.9 -4.0 11.7 12.3 8.0 -6.0 10.2 54
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

55 Other accounts receivable 609.6 456.7 838.3 -792.5 -184.2 273.2 88.6 149.1 510.6 408.0 55

56 Trade receivables 277.6 -14.8 162.6 -168.2 -29.5 96.9 83.4 52.6 261.6 70.8 56

57 Other (miscellaneous assets) 332.0 471.4 675.7 -624.3 -154.7 176.3 5.2 96.5 249.0 337.2 57

58 Net incurrence of liabilities 965.4 839.1 1281.0 338.9 -248.7 487.6 894.3 985.4 926.3 1292.9 58

59 Debt securities -7.1 150.0 199.6 190.5 179.3 237.2 204.1 354.1 301.6 309.3 59

60 Open market paper -7.7 22.4 11.3 7.7 -73.1 24.5 33.4 14.0 14.2 37.5 60

61 Municipal securities 41.9 53.3 68.4 66.0 37.2 33.2 8.5 15.2 9.3 -0.1 61

62 Corporate bonds -41.3 74.2 119.9 116.9 215.2 179.5 162.2 324.9 278.1 271.9 62

63 Loans 266.9 232.2 453.2 87.5 -523.6 -288.4 131.9 -47.5 104.1 175.9 63

64 Short term 83.0 149.9 383.8 132.1 -394.8 -177.5 212.3 67.9 105.4 155.8 64

65 Depository institution loans n.e.c. -27.1 22.0 96.3 64.2 -234.0 -87.0 152.1 101.5 63.7 92.8 65

66 Other loans and advances 110.1 127.9 287.5 68.0 -160.8 -90.4 60.2 -33.5 41.7 63.0 66

67 Long term (mortgages) 183.9 82.3 69.4 -44.7 -128.8 -110.9 -80.4 -115.4 -1.2 20.2 67

68 Equity and investment fund shares -201.5 -304.9 -494.2 -126.0 53.5 -93.6 -261.9 -156.6 -168.0 -295.1 68

69 Corporate equities -300.2 -496.9 -706.3 -315.6 -51.2 -250.7 -454.6 -344.9 -352.9 -392.2 69

70 Foreign direct investment in the United States 98.7 192.0 212.1 189.6 104.6 157.0 192.7 188.3 184.9 97.1 70

71 Insurance, pension and standardized guarantee schemes 91.2 146.4 4.4 155.8 54.3 -16.7 -16.5 -23.9 108.4 53.1 71

72 Pension fund contributions payable -1.9 -2.0 4.5 14.7 -8.6 15.4 3.0 -12.3 -2.5 -1.1 72

73 Claim of pension fund on sponsor 93.0 148.4 -0.2 141.0 63.0 -32.1 -19.5 -11.6 110.9 54.2 73

74 Other accounts payable 816.0 615.4 1118.0 31.1 -12.2 649.1 836.7 859.3 580.1 1049.6 74

75 Trade payables 199.0 109.1 85.1 -225.2 -82.6 156.3 25.2 65.4 101.3 108.7 75

76 Taxes payable -1.8 -0.8 -49.6 3.1 -3.3 7.2 8.8 2.3 -9.1 -1.4 76

77 Miscellaneous liabilities 618.7 507.1 1082.5 253.2 73.7 485.6 802.7 791.6 487.9 942.3 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-58) -20.9 -139.0 -208.2 -947.7 548.5 145.2 -397.5 -479.1 63.2 -498.7 78

 Other changes in volume account

79 Total other volume changes 288.5 576.9 678.9 -744.2 172.3 379.3 -54.9 -221.2 435.5 54.8 79

80 Disaster losses -22.7 0.0 0.0 -5.8 0.0 0.0 0.0 -6.9 0.0 0.0 80

81 Other volume changes 450.2 711.0 821.2 206.1 47.7 632.4 665.8 503.6 710.1 786.8 81

82 Less: Statistical discrepancy (lines 33-78) (3) 171.2 169.7 181.7 981.5 -131.2 294.1 789.0 732.1 271.3 734.9 82

83 Less: Inventory valuation adjustment -32.1 -35.7 -39.5 -37.0 6.7 -41.0 -68.3 -14.2 3.2 -2.9 83

 Revaluation account

84 Nonfinancial assets 931.5 973.5 1467.0 -1107.5 -2628.1 857.4 778.5 544.8 1388.1 1057.7 84

85 Real estate 810.9 872.8 1343.8 -1152.2 -2646.6 724.7 640.4 500.9 1335.4 1033.7 85

86 Equipment 45.0 70.9 22.6 99.9 -16.1 41.1 76.6 13.5 12.9 32.5 86

87 Intellectual property products 27.9 20.5 30.2 13.2 3.1 22.5 27.9 19.9 39.0 12.7 87

88 Inventories 47.7 9.2 70.4 -68.4 31.6 69.1 33.7 10.5 0.9 -21.3 88

89 Financial assets 94.5 31.0 154.8 -199.6 -15.3 -131.9 -55.7 71.3 37.9 -57.8 89

90 Mutual fund shares 8.1 15.2 9.7 -55.2 20.4 13.6 -8.1 15.4 30.2 8.4 90

91 Direct investment abroad 86.3 15.9 145.1 -144.4 -35.7 -145.6 -47.6 56.0 7.6 -66.1 91

92 Liabilities 960.6 2183.0 1850.5 -5651.4 2497.2 2008.2 255.9 2033.7 5377.8 2566.4 92

93 Corporate equity 919.6 2201.8 1823.4 -5550.2 2665.7 2023.0 346.6 2035.6 5367.1 2516.0 93

94 Foreign direct investment in the United States 41.0 -18.8 27.1 -101.2 -168.5 -14.8 -90.7 -1.9 10.8 50.3 94

95 Changes in net worth due to nominal holding gains/losses 65.4 -1178.5 -228.6 4344.2 -5140.6 -1282.7 466.9 -1417.6 -3951.9 -1566.5 95

 Changes in balance sheet account

96 Change in net worth (lines 28+33+79+95) (4) 781.1 -215.1 763.4 3900.4 -4625.6 -320.9 1002.6 -1065.5 -2859.9 -886.5 96

 Balance sheet account (end of period)

97 Total assets 26067.9 28196.9 31171.8 29515.3 27183.6 28958.1 30504.4 31946.7 34802.1 37125.4 97

98 Nonfinancial assets (5) 14167.2 15537.4 17419.0 16592.1 13866.1 14941.3 15995.5 16858.3 18541.6 19981.8 98

99 Real estate 7923.5 8892.2 10381.6 9360.3 6767.6 7545.9 8231.0 8799.4 10199.0 11338.6 99

100 Equipment 3297.8 3513.6 3673.4 3857.2 3793.1 3853.6 4008.0 4139.4 4269.8 4442.8 100

101 Intellectual property products 1322.0 1401.1 1492.3 1564.1 1600.7 1669.1 1746.9 1819.4 1920.0 2002.7 101

102 Inventories 1623.9 1730.5 1871.7 1810.5 1704.6 1872.7 2009.6 2100.0 2152.9 2197.7 102

103 Financial assets 11900.6 12659.5 13752.8 12923.2 13317.5 14016.8 14508.9 15088.4 16260.5 17143.5 103

104 Currency and deposits 781.9 697.1 634.7 420.7 675.2 823.8 862.1 850.4 991.8 1000.5 104

105 Currency and transferable deposits 268.0 150.7 143.1 84.2 154.9 234.5 265.3 219.8 283.3 322.3 105

106 Time and savings deposits 450.4 497.0 441.3 311.9 488.8 548.7 561.9 595.2 631.1 609.5 106

107 Foreign deposits 63.6 49.3 50.3 24.7 31.5 40.6 34.8 35.4 77.5 68.7 107
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

108 Debt securities 212.6 211.4 149.7 124.1 140.4 155.9 147.4 135.0 121.8 131.1 108

109 Open market paper 111.0 122.7 69.5 57.3 56.0 68.0 67.9 59.5 52.9 56.4 109

110 Treasury securities 52.1 45.5 38.3 30.5 43.0 48.0 43.0 39.4 38.8 41.3 110

111 Agency- and GSE-backed securities (1) 17.4 15.2 12.8 10.2 14.3 16.0 14.3 13.1 8.9 13.8 111

112 Municipal securities 32.1 28.1 29.2 26.2 27.1 23.9 22.3 22.9 21.2 19.7 112

113 Loans 142.4 123.6 99.3 88.2 81.0 84.9 87.1 83.3 79.3 97.9 113

114 Short term 74.1 63.8 57.9 54.5 51.4 56.9 59.6 57.7 52.2 66.0 114

115 Security repurchases 14.6 15.5 8.1 7.2 7.9 12.1 12.6 9.7 8.7 21.6 115

116 Consumer credit 59.6 48.3 49.8 47.3 43.6 44.8 47.1 48.0 43.4 44.4 116

117 Long term (mortgages) 68.3 59.8 41.4 33.6 29.5 28.0 27.4 25.5 27.1 31.9 117

118 Equity and investment fund shares 2809.9 3175.9 3701.6 3925.3 4134.3 4148.8 4457.1 4905.6 5304.2 5585.8 118

119 Money market fund shares 352.2 421.3 548.5 727.0 655.5 497.8 462.4 519.4 559.1 558.2 119

120 Mutual fund shares 134.4 173.2 178.0 106.3 162.0 186.8 165.9 179.6 211.0 234.5 120

121 U.S. direct investment abroad 2205.7 2440.7 2892.9 3011.1 3245.1 3402.9 3759.2 4134.4 4447.0 4691.8 121

122 Equity in government-sponsored enterprises (1) 0.5 0.6 0.7 0.4 0.4 0.6 0.5 0.6 0.6 0.7 122

123 Investment in finance company subsidiaries 117.0 140.1 81.5 80.5 71.2 60.7 69.1 71.7 86.4 100.5 123

124 Insurance, pension and standardized guarantee schemes (2) 283.9 291.5 299.8 310.9 307.0 318.7 331.0 339.0 333.0 343.2 124

125 Other accounts receivable 7670.0 8159.9 8867.6 8054.0 7979.6 8484.6 8624.3 8775.1 9430.4 9985.0 125

126 Trade receivables 2108.2 2099.2 2261.8 2093.6 2064.1 2157.2 2240.7 2293.2 2554.8 2625.6 126

127 Other (miscellaneous assets) 5561.7 6060.7 6605.8 5960.5 5915.5 6327.4 6383.6 6481.9 6875.6 7359.4 127

128 Total liabilities and net worth 26067.9 28196.9 31171.8 29515.3 27183.6 28958.1 30504.4 31946.7 34802.1 37125.4 128

129 Liabilities 23834.9 26179.0 28390.4 22833.6 25127.4 27222.8 27766.5 30274.4 35989.6 39199.3 129

130 Debt securities 2987.9 3137.9 3337.5 3528.0 3707.3 3944.5 4148.6 4502.8 4804.4 5113.7 130

131 Open market paper 90.1 112.5 123.8 131.5 58.4 82.9 116.3 130.3 144.5 182.0 131

132 Municipal securities 227.3 280.6 349.0 415.0 452.2 485.4 493.9 509.1 518.5 518.4 132

133 Corporate bonds 2670.5 2744.8 2864.7 2981.6 3196.7 3376.2 3538.4 3863.3 4141.4 4413.3 133

134 Loans 2266.0 2518.9 2978.7 3061.2 2453.4 2098.2 2230.1 2226.0 2314.7 2491.1 134

135 Short term 1494.3 1641.4 2031.7 2163.8 1684.8 1425.3 1637.6 1749.0 1838.9 1994.5 135

136 Depository institution loans n.e.c. 590.9 612.9 715.7 779.9 545.8 477.1 629.2 712.1 775.8 868.5 136

137 Other loans and advances 903.4 1028.4 1316.0 1383.9 1139.0 948.1 1008.3 1036.9 1063.1 1126.1 137

138 Long term (mortgages) 771.7 877.6 947.0 897.3 768.6 672.9 592.5 477.0 475.8 496.6 138

139 Equity and investment fund shares 14202.5 16080.7 17436.9 11659.6 14210.3 16124.8 16118.9 17996.0 23205.8 25477.1 139

140 Corporate equity 12653.1 14357.9 15475.0 9609.3 12223.8 13996.1 13888.1 15578.8 20593.0 22716.8 140

141 Foreign direct investment in the United States 1549.4 1722.7 1961.9 2050.3 1986.4 2128.7 2230.7 2417.2 2612.8 2760.3 141

142 Insurance, pension and standardized guarantee schemes 14.6 35.9 47.7 759.1 574.8 539.4 611.4 472.5 260.7 244.2 142

143 Pension fund contributions payable 44.8 64.7 69.3 84.0 75.4 90.8 93.8 81.4 79.0 77.9 143

144 Claim of pension fund on sponsor -30.1 -28.8 -21.6 675.1 499.4 448.6 517.7 391.0 181.7 166.3 144

145 Other accounts payable 4363.8 4405.5 4589.6 3825.7 4181.6 4515.9 4657.5 5077.1 5404.1 5873.3 145

146 Trade payables 1700.5 1812.9 1897.9 1672.7 1590.1 1746.4 1771.6 1837.0 1938.3 2047.0 146

147 Taxes payable 86.2 85.4 35.8 39.0 35.7 42.9 51.7 54.0 44.9 43.5 147

148 Miscellaneous liabilities 2577.0 2507.3 2655.8 2114.1 2555.9 2726.6 2834.3 3186.1 3420.9 3782.8 148

149 Net worth 2233.0 2017.9 2781.3 6681.7 2056.1 1735.3 2737.8 1672.3 -1187.5 -2074.0 149

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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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 Current account

 1 Gross value added 1034.3 1127.6 1068.8 851.9 1015.4 1042.8 1045.8 1187.3 1173.3 1301.6 1

 2 Less: Consumption of fixed capital 148.9 156.8 165.4 173.9 177.4 176.7 168.6 174.2 182.7 192.0 2

 3 Equals: Net value added 885.5 970.9 903.4 678.1 838.0 866.1 877.2 1013.1 990.6 1109.6 3

 4 Compensation of employees (paid) 535.4 579.8 618.2 612.9 549.0 574.3 606.8 630.2 640.2 681.0 4

 5 Wages and salaries 449.4 490.8 527.1 517.9 466.2 486.4 513.5 536.8 545.6 581.4 5

 6 Employers’ social contributions 86.0 89.0 91.1 95.0 82.8 87.9 93.3 93.3 94.6 99.7 6

 7 Taxes on production and imports less subsidies 49.5 52.5 54.7 55.6 64.2 64.8 58.3 60.2 59.9 69.8 7

 8 Operating surplus, net 300.6 338.5 230.5 9.5 224.8 227.1 212.1 322.7 290.4 358.8 8

 9 Net national income/Balance of primary incomes, net 200.3 205.2 110.7 -2.1 290.1 376.8 320.0 290.0 160.1 286.6 9

10 Operating surplus, net 300.6 338.5 230.5 9.5 224.8 227.1 212.1 322.7 290.4 358.8 10

11 Property income (received) 2154.2 2747.1 3200.8 2833.1 2203.8 2126.7 2109.1 2052.3 2020.3 2049.6 11

12 Interest 1922.3 2444.6 2831.9 2444.8 1877.4 1749.5 1722.4 1635.7 1539.5 1505.5 12

13 Distributed income of corporations (dividends) 229.0 261.6 323.1 338.8 275.7 308.9 319.5 359.8 419.8 481.3 13

14 Reinvested earnings on U.S. direct investment abroad 2.9 40.9 45.7 49.5 50.7 68.3 67.2 56.8 61.0 62.8 14

15 Less: Uses of property income (paid) 2254.5 2880.4 3320.6 2844.7 2138.6 1977.0 2001.2 2084.9 2150.6 2121.7 15

16 Interest 1820.9 2379.0 2754.2 2321.6 1679.7 1505.2 1504.6 1478.3 1413.9 1420.8 16

17 Distributed income of corporations 425.5 488.6 556.9 515.8 455.1 460.8 481.5 589.8 720.6 683.5 17

18 Dividends 377.9 438.6 517.0 492.8 380.8 376.0 427.2 521.9 672.3 631.8 18

19 Withdrawals from income of quasi-corporations (1) 47.7 50.0 39.8 23.0 74.4 84.9 54.3 67.9 48.3 51.7 19

20 Reinvested earnings on foreign direct investment 8.0 12.8 9.5 7.3 3.7 10.9 15.1 16.9 16.1 17.4 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 200.3 205.2 110.7 -2.1 290.1 376.8 320.0 290.0 160.1 286.6 22

23 Less: Current taxes on income, wealth, etc. (paid) 140.5 165.7 151.7 81.7 91.6 150.0 150.3 180.9 184.3 197.6 23

24 Less: Other current transfers (paid) -13.4 -21.1 7.5 45.6 26.5 18.4 20.0 -25.7 -17.9 8.5 24

25 Equals: Disposable income, net 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 134.8 -6.3 80.5 25

26 Equals: Net saving 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 134.8 -6.3 80.5 26

 Capital account

27 Net saving less capital transfers 45.4 60.7 -48.5 -68.9 293.9 249.9 182.1 125.2 -6.3 70.5 27

28 Net saving 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 134.8 -6.3 80.5 28

29 Less: Capital transfers paid (net) 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 9.6 0.0 10.0 29

30 Capital formation, net 31.1 31.9 46.1 22.3 -10.5 -13.9 -1.2 17.9 23.4 30.6 30

31 Gross fixed capital formation (nonresidential) 180.0 188.7 211.5 196.2 166.9 162.8 167.5 192.1 206.1 222.6 31

32 Less: Consumption of fixed capital 148.9 156.8 165.4 173.9 177.4 176.7 168.6 174.2 182.7 192.0 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) 14.3 28.8 -94.6 -91.2 304.4 263.8 183.3 107.4 -29.7 39.9 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 14.3 28.8 -94.6 -91.2 304.4 263.8 183.3 107.4 -29.7 39.9 34

35 Net acquisition of financial assets 3761.4 4559.8 5422.2 3670.4 -1173.0 111.6 1984.4 1563.7 3015.8 2682.4 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 2.3 87.5 185.0 1005.9 197.4 -154.9 518.0 -47.9 817.5 124.3 37

38 Debt securities 638.0 1132.8 984.4 641.9 855.4 857.5 1032.3 979.7 1284.7 862.2 38

39 Open market paper 194.0 232.5 -120.4 6.3 -390.7 -93.6 -75.0 0.0 20.7 -25.2 39

40 Treasury securities 100.3 112.9 74.4 502.4 451.6 573.5 1014.5 324.1 482.7 618.1 40

41 Agency- and GSE-backed securities (2) -209.5 123.2 308.2 667.7 700.3 47.7 71.2 171.5 389.0 67.9 41

42 Municipal securities 111.2 126.9 197.0 26.7 34.0 30.7 -9.4 123.1 -17.6 23.3 42

43 Corporate and foreign bonds 441.9 537.2 525.2 -561.2 60.2 299.2 31.0 361.0 410.0 178.0 43

44 Loans 2057.6 2099.8 2703.6 1469.4 -2951.9 -479.9 173.3 385.6 59.7 790.3 44

45 Short term 653.1 705.2 1571.2 1222.4 -2899.3 -188.8 348.1 451.6 -33.6 597.2 45

46 Long term (mortgages) 1404.5 1394.6 1132.4 247.0 -52.7 -291.0 -174.9 -66.1 93.3 193.1 46

47 Equity and investment fund shares 526.9 448.7 1135.6 685.4 166.0 -10.7 -52.4 69.2 147.6 369.2 47

48 Corporate equities 244.4 75.5 303.6 160.2 163.9 75.2 -113.1 -26.0 -19.0 75.1 48

49 Mutual fund shares 82.2 141.8 108.1 -70.2 214.6 156.2 14.1 53.9 112.6 78.8 49

50 Money market mutual fund shares 11.9 1.1 342.4 306.6 -193.6 -181.6 -65.1 -86.7 -57.9 11.1 50

51 Equity in government-sponsored enterprises (2) 2.0 -0.0 8.3 -5.3 0.0 -3.2 -6.2 -2.0 -0.2 0.3 51

52 U.S. direct investment abroad 11.5 25.8 107.0 66.4 40.7 -2.3 15.2 20.5 23.6 26.0 52

53 Stock in Federal Reserve Banks 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 0.1 1.1 53

54 Investment in subsidiaries 173.2 202.8 263.1 225.0 -64.1 -56.0 102.4 109.1 88.2 176.7 54

55 Insurance, pension and standardized guarantee schemes 224.3 303.7 249.5 295.9 496.7 276.3 340.9 358.2 352.9 321.8 55

56 Other accounts receivable 312.3 487.3 164.2 -428.2 63.5 -376.7 -27.5 -181.0 353.4 214.6 56
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57 Net incurrence of liabilities 3410.7 4296.8 5269.6 4094.4 -1110.1 126.2 1914.0 1482.4 2833.6 2659.6 57

58 Currency and deposits 624.0 632.6 562.0 2139.9 229.1 324.4 1448.9 594.6 1859.3 987.2 58

59 Debt securities 1047.8 1316.7 1540.4 454.4 -973.2 -679.8 -354.6 -316.3 65.0 176.5 59

60 Agency- and GSE-backed securities (2) 80.4 328.2 905.7 768.7 -60.1 -39.5 -22.1 -23.8 238.3 150.3 60

61 Corporate bonds 753.2 792.1 746.2 -189.0 -465.1 -538.0 -264.3 -233.7 -124.4 63.5 61

62 Commercial paper 214.2 196.4 -111.5 -125.4 -448.1 -102.2 -68.2 -58.8 -48.9 -37.3 62

63 Loans 548.8 590.9 880.8 -160.2 -1644.3 -59.6 202.2 128.4 -192.7 158.3 63

64 Short term 534.6 584.3 876.2 -166.9 -1656.1 -60.5 188.7 123.5 -212.6 149.0 64

65 Long term (mortgages) 14.1 6.6 4.7 6.8 11.8 0.8 13.5 4.8 19.9 9.3 65

66 Equity and investment fund shares 723.8 949.4 1494.1 1691.4 287.4 88.5 365.8 710.7 671.3 757.8 66

67 Money market mutual fund shares 125.1 311.6 747.3 746.5 -516.3 -512.4 -112.6 2.2 24.6 6.8 67

68 Corporate equity issues 78.4 60.0 179.6 639.2 314.1 189.5 161.6 155.5 158.3 218.3 68

69 Mutual fund shares 286.0 346.2 376.1 -58.1 533.4 395.9 200.7 386.2 346.0 309.4 69

70 Equity in government-sponsored enterprises (2) 1.9 0.2 9.1 -4.2 0.0 -2.7 -5.9 -1.8 0.5 1.2 70

71 Foreign direct investment in the United States 13.9 52.0 9.3 120.7 45.7 48.5 43.4 5.1 31.1 13.6 71

72 Equity in noncorporate business -1.2 -6.8 3.6 11.6 0.6 0.9 -2.9 6.7 -5.6 2.0 72

73 Investment by parent 218.1 184.4 166.1 233.0 -94.5 -32.0 81.1 156.4 116.2 205.4 73

74 Stock in Federal Reserve Banks 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 0.1 1.1 74

75 Insurance, pension and standardized guarantee schemes 641.1 613.6 595.0 455.2 697.6 721.7 653.2 536.4 493.3 494.0 75

76 Other accounts payable -174.7 193.6 197.2 -486.3 293.4 -268.9 -401.5 -171.3 -62.6 85.9 76

 Addendum:

77 Net lending (+) or borrowing (-), financial account (lines 35-57) 350.7 263.0 152.6 -424.0 -62.9 -14.6 70.4 81.3 182.2 22.8 77

 Other changes in volume account

78 Total other volume changes 6.3 -381.3 -84.6 964.6 -806.4 -670.5 7.8 -180.9 -1069.8 -370.4 78

79 Disaster losses -1.7 0.0 0.0 -0.6 0.0 2.1 0.0 -2.0 0.0 0.0 79

80 Other volume changes -328.4 -615.5 -331.8 1298.0 -439.1 -394.1 120.7 -152.8 -1281.7 -353.3 80

81 Less: Statistical discrepancy (lines 33-77) (3) -336.4 -234.2 -247.2 332.8 367.3 278.4 112.8 26.1 -211.9 17.1 81

 Revaluation account

82 Nonfinancial assets 72.6 63.8 28.6 55.7 -61.9 -4.8 42.2 18.4 34.4 29.7 82

83 Structures (nonresidential) 72.1 62.7 34.0 54.2 -50.2 -0.3 33.2 15.3 30.2 24.8 83

84 Equipment 0.6 0.8 -4.9 3.0 -5.6 -0.9 8.3 2.9 2.5 5.6 84

85 Intellectual property products -0.1 0.3 -0.5 -1.5 -6.1 -3.6 0.6 0.2 1.7 -0.7 85

86 Financial assets 1021.3 1986.1 969.9 -6290.1 2771.0 1775.6 -665.4 1931.1 3993.1 1251.0 86

87 Corporate equities 624.1 1499.9 701.1 -4962.1 2108.9 1390.1 -471.6 1505.7 3246.4 1053.8 87

88 Mutual fund shares 366.5 450.5 223.0 -1338.8 607.9 344.8 -148.3 403.1 760.6 231.8 88

89 U.S. direct investment abroad 30.7 35.7 45.8 10.8 54.2 40.7 -45.5 22.4 -14.0 -34.6 89

90 Liabilities 961.0 2087.8 -339.2 -7043.3 2542.0 1851.3 -835.3 2261.8 3913.3 1493.2 90

91 Corporate equity issues 265.1 716.6 -979.8 -2365.5 388.8 568.1 -449.4 739.1 1356.7 641.0 91

92 Mutual fund shares 384.4 849.0 478.6 -3067.9 1474.9 837.3 -289.2 1035.9 1623.5 508.2 92

93 Foreign direct investment in the United States 9.4 22.5 -56.7 -157.6 17.9 34.1 28.9 15.9 -50.6 11.4 93

94 Equity in noncorporate business 1.7 4.8 -0.6 -13.6 3.6 0.3 -1.2 -1.3 4.2 -0.5 94

95 Pension fund reserves 300.3 494.9 219.3 -1438.6 657.4 413.5 -126.1 472.3 979.5 333.1 95

96 Investment by parent 0.0 0.0 0.0 0.0 -0.6 -2.0 1.8 -0.1 0.0 0.0 96

97 Changes in net worth due to nominal holding gains/losses 132.8 -37.9 1337.7 808.8 167.1 -80.5 212.0 -312.3 114.2 -212.5 97

 Changes in balance sheet account

98 Change in net worth (lines 30+33+78+97) 184.5 -358.6 1204.6 1704.6 -345.5 -501.1 402.0 -367.9 -961.9 -512.4 98

 Balance sheet account (end of period)

99 Total assets 58495.3 64551.6 70884.0 69640.1 71064.5 72447.8 73946.7 78070.1 83697.9 87392.1 99

100 Nonfinancial assets (4) 1383.7 1484.5 1564.8 1649.4 1586.3 1580.2 1621.2 1655.5 1713.2 1773.6 100

101 Structures (nonresidential) 824.1 895.9 946.7 1015.8 971.3 963.9 986.3 992.0 1013.0 1031.9 101

102 Equipment 449.9 473.3 492.8 498.6 470.3 471.9 485.5 506.0 535.7 570.7 102

103 Intellectual property products 109.7 115.3 125.3 134.9 144.7 144.3 149.4 157.4 164.5 170.9 103

104 Financial assets 57111.6 63067.1 69319.2 67990.7 69478.2 70867.7 72325.5 76414.7 81984.6 85618.5 104

105 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 105

106 Currency and deposits 870.2 932.6 1119.5 2162.8 2373.7 2264.5 2782.6 2759.0 3575.2 3696.6 106
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107 Debt securities 14697.8 15707.3 16682.0 17252.2 18235.7 18549.1 19676.1 20822.9 21841.7 22816.1 107

108 Open market paper 1125.0 1352.9 1236.0 1243.8 853.0 763.7 688.9 688.7 709.1 685.0 108

109 Treasury securities 2532.7 2647.6 2728.6 3243.8 3672.9 4247.3 5282.7 5611.3 6061.8 6696.7 109

110 Agency- and GSE-backed securities (2) 4164.6 4181.3 4507.4 5207.6 5940.4 5538.3 5627.7 5823.9 6173.2 6257.6 110

111 Municipal securities 1375.0 1501.5 1668.3 1657.4 1727.9 1752.2 1779.1 1921.2 1863.7 1928.9 111

112 Corporate and foreign bonds 5500.6 6023.9 6541.7 5899.7 6041.5 6247.5 6297.7 6777.9 7033.8 7247.8 112

113 Loans 19696.2 21732.8 24394.2 25727.2 22487.1 21765.6 21787.1 22100.4 22053.4 22805.1 113

114 Short term 8081.3 8699.8 10260.5 11482.6 8530.8 8416.3 8764.5 9289.1 9240.1 9837.2 114

115 Long term (mortgages) 11614.9 13033.0 14133.7 14244.6 13956.3 13349.2 13022.6 12811.2 12813.3 12967.9 115

116 Equity and investment fund shares 16390.0 18377.2 20482.6 14878.0 18491.1 20256.0 19538.2 21965.1 26060.5 27680.7 116

117 Corporate equities 10134.9 11210.8 12215.6 7413.8 9686.6 11151.9 10567.2 12046.8 15274.3 16403.2 117

118 Mutual fund shares 3242.5 3799.5 4130.6 2721.5 3544.0 4045.1 3910.9 4367.8 5241.0 5551.7 118

119 Money market fund shares 550.5 605.6 948.0 1254.6 1061.0 879.5 814.3 727.6 669.8 680.9 119

120 Equity in government-sponsored enterprises (2) 42.0 42.0 50.3 45.0 45.0 41.7 35.5 33.5 33.4 33.7 120

121 U.S. direct investment abroad 446.0 507.4 660.2 737.4 832.3 870.7 840.3 883.2 892.8 884.2 121

122 Stock in Federal Reserve Banks 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 27.5 28.6 122

123 Investment in subsidiaries 1960.6 2196.5 2459.6 2684.6 3296.6 3240.6 3343.0 3878.8 3921.7 4098.5 123

124 Insurance, pension and standardized guarantee schemes 2346.6 2460.4 2594.5 4240.7 4155.4 4517.2 4932.6 4910.5 4331.6 4324.0 124

125 Other accounts receivable 3099.8 3845.8 4035.2 3718.7 3724.1 3504.3 3597.8 3845.7 4111.1 4284.9 125

126 Total liabilities and net worth 58495.3 64551.6 70884.0 69640.1 71064.5 72447.8 73946.7 78070.1 83697.9 87392.1 126

127 Liabilities 59644.1 66058.9 71186.7 68238.2 70008.1 71892.5 72989.4 77480.8 84070.4 88277.1 127

128 Currency and deposits 8185.1 8817.7 9379.7 11519.6 11748.7 12069.0 13517.8 14084.6 15943.9 16931.1 128

129 Debt securities 12051.7 13338.6 14989.8 15364.1 14594.5 13544.8 13117.5 12923.9 12924.3 13073.3 129

130 Agency- and GSE-backed securities (2) 6140.7 6468.9 7374.6 8143.4 8083.3 7581.3 7559.2 7535.4 7773.7 7924.0 130

131 Corporate bonds 4740.8 5506.1 6363.1 6094.4 5833.0 5387.4 5050.5 4939.4 4750.4 4786.4 131

132 Commercial paper 1170.2 1363.5 1252.1 1126.3 678.2 576.0 507.9 449.1 400.2 362.9 132

133 Loans 5033.8 5621.4 6502.3 6342.1 4768.4 4720.7 4917.5 5108.6 4915.9 5082.1 133

134 Short term 4888.3 5469.4 6345.5 6178.6 4593.2 4544.6 4728.0 4914.2 4701.6 4850.6 134

135 Long term (mortgages) 145.5 152.1 156.7 163.5 175.3 176.1 189.5 194.4 214.3 231.4 135

136 Equity and investment fund shares 15996.7 18572.2 19504.0 15590.8 18439.0 19928.1 19584.8 22511.6 26071.5 27989.4 136

137 Money market fund shares 2026.8 2338.5 3085.8 3832.2 3315.9 2803.5 2691.0 2693.2 2717.8 2724.6 137

138 Corporate equity issues 4629.7 5406.2 4606.0 2879.7 3582.6 4340.2 4052.4 4947.0 6462.0 7321.3 138

139 Mutual fund shares 6864.6 8059.7 8914.4 5788.4 7796.7 9029.8 8941.4 10363.5 12333.0 13150.6 139

140 Equity in government-sponsored enterprises (2) 46.7 46.9 56.0 51.8 51.8 49.0 43.1 41.2 41.7 42.9 140

141 Foreign direct investment in the United States 353.2 427.8 380.4 343.5 407.0 489.6 561.9 582.8 563.3 588.3 141

142 Equity in noncorporate business 11.7 9.7 12.6 10.7 14.8 15.9 11.9 17.3 15.9 17.5 142

143 Investment by parent 2050.4 2268.1 2430.5 2663.5 3244.5 3173.4 3256.3 3839.2 3910.3 4115.7 143

144 Stock in Federal Reserve Banks 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 27.5 28.6 144

145 Insurance, pension and standardized guarantee schemes 15796.7 16927.7 17803.9 16702.1 18107.0 19781.9 20336.6 21402.9 22938.0 23822.9 145

146 Other accounts payable 2580.3 2781.4 3007.0 2719.5 2350.5 1848.0 1515.1 1449.1 1276.9 1378.4 146

147 Net worth -1148.8 -1507.4 -302.7 1401.9 1056.4 555.3 957.3 589.3 -372.6 -885.0 147

Notes. Financial business includes depository institutions, insurance companies, pension funds, monetary authority, and other financial institutions.

 Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(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.
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 Current account

 1 Gross value added 2.1 2.0 2.0 3.4 2.5 2.5 2.8 2.6 3.3 3.4 1

 2 Less: Consumption of fixed capital 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 2

 3 Equals: Net value added 1.3 1.2 1.2 2.6 1.7 1.7 2.0 1.8 2.5 2.6 3

 4 Compensation of employees (paid) 1.5 1.6 1.7 1.9 2.1 2.1 2.0 2.0 2.2 2.2 4

 5 Wages and salaries 1.3 1.4 1.5 1.7 1.8 1.8 1.8 1.8 1.9 1.9 5

 6 Employers’ social contributions 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 6

 7 Taxes on production and imports less subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Operating surplus, net -0.2 -0.4 -0.6 0.6 -0.3 -0.4 -0.1 -0.2 0.3 0.4 8

 9 Net national income/Balance of primary incomes, net 26.4 33.1 36.6 35.2 47.3 71.7 76.6 72.4 80.6 104.4 9

10 Operating surplus, net -0.2 -0.4 -0.6 0.6 -0.3 -0.4 -0.1 -0.2 0.3 0.4 10

11 Property income (received) 29.2 36.8 40.9 38.9 53.3 78.5 84.5 80.9 90.5 115.9 11

12 Interest 29.2 36.8 40.9 38.9 53.3 78.5 84.5 80.9 90.5 115.9 12

13 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 13

14 Reinvested earnings on U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Less: Uses of property income (paid) 2.6 3.3 3.8 4.4 5.7 6.4 7.9 8.4 10.2 12.0 15

16 Interest 1.8 2.4 2.8 3.2 4.3 4.8 6.3 6.7 8.6 10.3 16

17 Distributed income of corporations 0.8 0.9 1.0 1.2 1.4 1.6 1.6 1.6 1.6 1.7 17

18 Dividends 0.8 0.9 1.0 1.2 1.4 1.6 1.6 1.6 1.6 1.7 18

19 Withdrawals from income of quasi-corporations (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Reinvested earnings on foreign direct investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 26.4 33.1 36.6 35.2 47.3 71.7 76.6 72.4 80.6 104.4 22

23 Less: Current taxes on income, wealth, etc. (paid) 21.5 29.1 34.6 31.7 47.4 79.3 75.4 88.4 79.6 96.9 23

24 Less: Other current transfers (paid) 0.7 0.8 0.9 0.9 0.9 1.1 1.4 1.6 1.8 1.9 24

25 Equals: Disposable income, net 4.2 3.3 1.1 2.6 -1.1 -8.7 -0.3 -17.6 -0.9 5.6 25

26 Equals: Net saving 4.2 3.3 1.1 2.6 -1.1 -8.7 -0.3 -17.6 -0.9 5.6 26

 Capital account

27 Net saving less capital transfers 4.2 3.3 1.1 2.6 -1.1 -8.7 -0.3 -17.6 -0.9 5.6 27

28 Net saving 4.2 3.3 1.1 2.6 -1.1 -8.7 -0.3 -17.6 -0.9 5.6 28

29 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Capital formation, net -0.3 -0.0 0.1 -0.2 -0.0 -0.2 -0.2 0.0 -0.2 -0.2 30

31 Gross fixed capital formation (nonresidential) 0.6 0.8 0.9 0.7 0.8 0.7 0.6 0.8 0.6 0.7 31

32 Less: Consumption of fixed capital 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) 4.5 3.3 1.0 2.8 -1.0 -8.5 -0.0 -17.7 -0.7 5.8 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 4.5 3.3 1.0 2.8 -1.0 -8.5 -0.0 -17.7 -0.7 5.8 34

35 Net acquisition of financial assets 37.4 29.6 42.7 1319.8 -4.5 185.5 493.6 9.7 1118.8 481.6 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 0.4 0.8 1.3 -0.8 3.7 1.8 1.1 0.9 0.4 1.4 37

38 Debt securities 26.4 34.7 -38.3 -245.0 1349.2 316.3 444.0 64.5 1086.6 480.7 38

39 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 Treasury securities 26.4 34.7 -38.3 -264.7 300.7 244.9 642.0 2.7 542.6 252.6 40

41 Agency- and GSE-backed securities (2) 0.0 0.0 0.0 19.7 1048.5 71.4 -197.9 61.8 543.9 228.1 41

42 Loans (short term) 13.8 -6.0 78.3 1564.7 -1434.1 -151.4 32.2 -121.0 -9.1 1.2 42

43 Equity shares 0.0 0.0 0.0 0.0 25.1 1.3 -26.4 0.0 0.0 0.0 43

44 Other accounts receivable -3.2 0.1 1.4 0.9 51.5 17.5 42.7 65.3 40.9 -1.8 44

45 Net incurrence of liabilities 36.1 27.2 39.6 1317.2 -9.1 184.6 493.2 9.3 1118.7 480.6 45

46 Currency and deposits 33.6 24.8 23.1 1270.2 -3.4 173.9 480.2 -2.0 900.1 283.2 46

47 Loans -0.3 -0.9 14.4 44.4 -10.6 -18.0 40.2 7.3 208.7 193.9 47

48 Equity shares (stock in Federal Reserve Banks) 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 0.1 1.1 48

49 Other accounts payable 1.1 1.4 -1.0 0.0 0.4 27.8 -27.5 3.5 9.7 2.4 49

 Addendum:

50 Net lending (+) or borrowing (-), financial account (lines 35-45) 1.3 2.4 3.1 2.6 4.6 0.9 0.4 0.5 0.1 1.1 50

 Other changes in volume account

51 Total other volume changes -3.2 -0.9 2.1 -0.2 5.6 9.4 0.4 18.1 0.8 -4.7 51

52 Other volume changes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 52

53 Less: Statistical discrepancy (lines 33-50) (3) 3.2 0.9 -2.1 0.2 -5.6 -9.4 -0.4 -18.1 -0.8 4.7 53
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 Revaluation account

54 Nonfinancial assets 0.7 0.6 0.3 0.6 -0.4 0.0 0.3 0.1 0.2 0.2 54

55 Structures (nonresidential) 0.6 0.6 0.3 0.5 -0.3 0.0 0.3 0.1 0.2 0.2 55

56 Equipment 0.0 0.0 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 56

57 Intellectual property products 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 57

58 Changes in net worth due to nominal holding gains/losses 0.7 0.6 0.3 0.6 -0.4 0.0 0.3 0.1 0.2 0.2 58

 Changes in balance sheet account

59 Change in net worth (lines 30+33+51+58) 1.7 3.0 3.6 3.0 4.2 0.8 0.5 0.6 0.2 1.1 59

 Balance sheet account (end of period)

60 Total assets 888.2 918.4 961.5 2281.7 2276.8 2462.1 2955.8 2965.6 4084.5 4566.1 60

61 Nonfinancial assets (4) 9.5 10.1 10.6 11.0 10.6 10.5 10.6 10.7 10.7 10.7 61

62 Structures (nonresidential) 6.6 7.2 7.7 8.2 7.8 7.7 7.8 7.8 7.9 8.0 62

63 Equipment 2.4 2.3 2.2 2.1 2.0 2.0 2.0 2.0 2.0 2.0 63

64 Intellectual property products 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.8 0.8 0.8 64

65 Financial assets 878.7 908.2 950.9 2270.7 2266.2 2451.7 2945.2 2955.0 4073.8 4555.4 65

66 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 66

67 Currency and deposits 56.2 58.2 61.5 62.9 65.7 68.1 69.3 69.0 68.1 66.7 67

68 Debt securities 744.2 778.9 740.6 495.6 1844.8 2161.1 2605.1 2669.6 3756.2 4236.9 68

69 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 69

70 Treasury securities 744.2 778.9 740.6 475.9 776.6 1021.5 1663.4 1666.1 2208.8 2461.4 70

71 Agency- and GSE-backed securities (2) 0.0 0.0 0.0 19.7 1068.3 1139.6 941.7 1003.4 1547.4 1775.5 71

72 Loans (short term) 46.8 40.8 119.1 1683.8 249.7 98.4 130.5 9.5 0.4 1.7 72

73 Equity shares 0.0 0.0 0.0 0.0 25.1 26.4 0.0 0.0 0.0 0.0 73

74 Other accounts receivable 20.3 19.2 18.7 17.3 69.8 86.7 129.2 195.8 238.0 239.1 74

75 Total liabilities and net worth 888.2 918.4 961.5 2281.7 2276.8 2462.1 2955.8 2965.6 4084.5 4566.1 75

76 Liabilities 865.7 892.9 932.5 2249.7 2240.6 2425.1 2918.3 2927.6 4046.3 4526.8 76

77 Currency and deposits 819.9 844.8 867.9 2138.1 2134.6 2308.6 2788.7 2786.7 3686.8 3970.0 77

78 Loans 30.5 29.6 44.0 88.4 77.7 59.7 99.9 107.2 315.9 509.8 78

79 Equity shares (stock in Federal Reserve Banks) 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 27.5 28.6 79

80 Other accounts payable 1.8 3.2 2.2 2.2 2.5 30.4 2.8 6.3 16.0 18.4 80

81 Net worth 22.5 25.5 29.0 32.1 36.2 37.0 37.5 38.0 38.2 39.3 81

(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.
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 Current account

 1 Gross value added 271.0 300.0 312.6 304.4 282.1 261.2 238.5 274.2 289.7 300.2 1

 2 Less: Consumption of fixed capital 30.3 31.1 31.6 31.9 32.1 31.8 31.8 32.3 32.6 32.8 2

 3 Equals: Net value added 240.7 268.9 281.0 272.5 250.0 229.4 206.8 241.9 257.0 267.4 3

 4 Compensation of employees (paid) 128.5 133.8 139.8 132.9 147.3 151.0 158.8 167.5 170.8 169.6 4

 5 Wages and salaries 108.4 113.6 118.7 111.7 125.3 128.3 134.3 143.1 146.1 144.8 5

 6 Employers’ social contributions 20.1 20.2 21.1 21.2 22.0 22.7 24.5 24.4 24.7 24.8 6

 7 Taxes on production and imports less subsidies 6.3 6.6 7.0 8.4 9.4 9.4 9.6 10.0 10.4 11.1 7

 8 Operating surplus, net 105.9 128.5 134.1 131.2 93.4 68.9 38.4 64.4 75.9 86.7 8

 9 Net national income/Balance of primary incomes, net 78.6 78.6 64.6 132.6 178.7 180.7 124.7 117.5 132.6 120.5 9

10 Operating surplus, net 105.9 128.5 134.1 131.2 93.4 68.9 38.4 64.4 75.9 86.7 10

11 Property income (received) 375.1 452.8 487.4 408.2 410.6 412.5 380.9 346.9 320.4 309.6 11

12 Interest 372.0 441.3 474.6 392.9 393.7 388.7 357.1 326.6 299.3 288.4 12

13 Distributed income of corporations (dividends) 2.3 2.8 3.1 2.8 1.9 2.1 2.1 2.2 2.4 2.7 13

14 Reinvested earnings on U.S. direct investment abroad 0.7 8.6 9.6 12.5 15.0 21.7 21.7 18.1 18.7 18.4 14

15 Less: Uses of property income (paid) 402.4 502.6 556.9 406.8 325.2 300.7 294.6 293.8 263.6 275.7 15

16 Interest 326.5 405.1 447.1 354.3 277.0 243.9 212.4 191.9 173.7 179.3 16

17 Distributed income of corporations 72.9 93.2 107.1 50.9 47.3 54.1 77.9 96.2 84.0 89.8 17

18 Dividends 72.8 93.1 107.0 50.6 47.1 53.9 77.8 96.0 83.9 89.8 18

19 Withdrawals from income of quasi-corporations (1) 0.1 0.1 0.1 0.2 0.2 0.2 0.1 0.2 0.1 0.1 19

20 Reinvested earnings on foreign direct investment 3.0 4.3 2.7 1.7 0.9 2.8 4.3 5.7 6.0 6.6 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 78.6 78.6 64.6 132.6 178.7 180.7 124.7 117.5 132.6 120.5 22

23 Less: Current taxes on income, wealth, etc. (paid) 55.0 54.2 41.1 15.8 2.7 18.7 23.5 30.5 27.1 25.6 23

24 Less: Other current transfers (paid) 3.8 4.0 4.1 4.2 4.3 4.5 5.6 6.2 6.5 6.8 24

25 Equals: Disposable income, net 19.7 20.4 19.4 112.6 171.7 157.5 95.6 80.8 99.1 88.0 25

26 Equals: Net saving 19.7 20.4 19.4 112.6 171.7 157.5 95.6 80.8 99.1 88.0 26

 Capital account

27 Net saving less capital transfers 19.7 20.4 19.4 155.4 189.8 157.5 95.9 80.8 99.1 88.0 27

28 Net saving 19.7 20.4 19.4 112.6 171.7 157.5 95.6 80.8 99.1 88.0 28

29 Less: Capital transfers paid (net) 0.0 0.0 0.0 -42.8 -18.0 0.0 -0.3 0.0 0.0 0.0 29

30 Capital formation, net 0.8 5.2 2.5 3.8 -0.1 -4.6 -5.0 -3.6 -6.1 -4.3 30

31 Gross fixed capital formation (nonresidential) 31.1 36.3 34.1 35.6 32.0 27.2 26.8 28.8 26.5 28.5 31

32 Less: Consumption of fixed capital 30.3 31.1 31.6 31.9 32.1 31.8 31.8 32.3 32.6 32.8 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) 18.9 15.3 16.9 151.6 189.8 162.2 100.9 84.4 105.2 92.4 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 18.9 15.3 16.9 151.6 189.8 162.2 100.9 84.4 105.2 92.4 34

35 Net acquisition of financial assets 962.4 932.4 1091.2 1198.4 -699.2 -193.2 840.5 500.1 993.4 972.1 35

36 Currency and deposits 4.3 1.1 7.3 836.6 114.6 -12.6 600.4 -63.0 757.4 129.5 36

37 Vault cash 8.6 1.6 3.3 2.7 -2.8 -2.2 8.1 7.1 2.6 2.0 37

38 Reserves at the Federal Reserve -5.0 -0.3 2.1 839.2 117.0 -8.9 594.2 -71.2 758.0 128.9 38

39 Deposits at Federal Home Loan Banks 0.8 -0.2 1.9 -5.4 0.4 -1.5 -1.8 1.2 -3.2 -1.5 39

40 Debt securities 202.4 151.4 139.6 117.7 117.2 146.1 138.0 190.4 46.3 216.7 40

41 Open market paper -0.0 0.2 -0.5 15.3 -15.7 0.0 0.0 0.0 0.0 0.0 41

42 Treasury securities -7.0 0.6 10.4 -20.8 94.7 103.0 -46.7 86.6 -35.1 195.4 42

43 Agency- and GSE-backed securities (2) 46.0 18.7 -115.8 142.2 172.6 138.5 133.6 49.7 42.4 26.2 43

44 Municipal securities 18.5 25.1 12.6 20.4 3.4 29.3 46.8 68.0 55.1 31.0 44

45 Corporate and foreign bonds 145.0 106.9 232.9 -39.3 -137.8 -124.7 4.3 -13.8 -16.2 -35.9 45

46 Loans 710.2 780.5 853.0 179.5 -969.8 -258.5 165.4 389.2 162.8 589.4 46

47 Short term 225.0 386.2 557.5 141.3 -790.4 -101.3 271.3 367.5 173.8 439.5 47

48 Long term (mortgages) 485.2 394.3 295.4 38.3 -179.4 -157.2 -105.8 21.7 -11.0 149.9 48

49 Equity and investment fund shares 0.4 3.2 48.4 17.0 24.0 -7.2 -10.7 -14.6 1.2 5.6 49

50 Corporate equities -0.9 -0.4 1.4 0.9 6.3 -1.7 0.9 -10.5 0.8 0.7 50

51 Mutual fund shares -3.0 3.5 3.4 2.2 13.6 -5.8 -0.4 -0.9 1.1 -0.9 51

52 Equity in government-sponsored enterprises (2) 2.1 -0.1 7.6 -6.2 0.3 -3.2 -5.4 -2.1 -1.1 -0.0 52

53 U.S. direct investment abroad 0.5 -1.7 32.8 17.6 -0.8 2.7 -6.2 -1.6 0.3 4.7 53

54 Stock in Federal Reserve Banks 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 0.1 1.1 54

55 Insurance, pension and standardized guarantee schemes 0.0 8.2 10.9 6.4 0.8 4.5 5.2 7.4 5.7 5.9 55

56 Other accounts receivable 45.1 -11.9 32.1 41.1 14.0 -65.4 -57.9 -9.3 19.9 25.0 56
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57 Net incurrence of liabilities 777.9 819.4 995.2 1116.1 -384.7 -169.3 854.8 570.2 947.8 1096.0 57

58 Currency and deposits 574.5 596.0 523.6 881.3 265.4 161.7 979.0 595.8 970.8 696.3 58

59 Checkable deposits -25.6 -43.5 18.9 140.2 109.7 81.3 356.7 205.6 193.1 198.8 59

60 Other deposits 600.1 639.5 504.7 741.1 155.7 80.4 622.3 390.2 777.7 497.5 60

61 Debt securities 13.5 29.3 24.7 0.1 -28.3 -69.3 10.0 -115.4 -102.7 -17.2 61

62 Corporate bonds 13.5 29.6 24.8 0.1 -28.5 -49.2 2.4 -82.3 -74.9 -12.0 62

63 Commercial paper 0.0 -0.2 -0.1 0.0 0.1 -20.1 7.6 -33.1 -27.8 -5.2 63

64 Loans (short term) 128.6 103.7 292.4 350.7 -875.5 -239.0 -89.8 -26.6 -17.6 92.0 64

65 Equity and investment fund shares 66.7 129.8 164.4 186.1 121.4 26.1 74.8 89.1 68.5 179.0 65

66 Corporate equity issues 8.4 10.2 7.5 12.1 11.6 11.9 6.4 1.6 2.2 2.7 66

67 Foreign direct investment in the United States 9.4 13.8 -0.8 24.8 16.6 12.4 26.0 -1.9 9.5 0.7 67

68 Investment by parent 48.9 105.8 157.7 149.3 93.2 1.8 42.4 89.4 56.7 175.6 68

69 Other accounts payable -5.4 -39.4 -10.0 -302.2 132.4 -48.8 -119.3 27.4 28.8 145.8 69

 Addendum:

70 Net lending (+) or borrowing (-), financial account (lines 35-57) 184.5 113.0 95.9 82.3 -314.5 -23.8 -14.3 -70.2 45.6 -123.9 70

 Other changes in volume account

71 Total other volume changes 153.9 7.2 50.0 -67.3 -711.7 -219.6 -144.4 -303.2 -98.5 -215.3 71

72 Disaster losses -0.7 0.0 0.0 -0.3 0.0 0.0 0.0 -0.5 0.0 0.0 72

73 Other volume changes -11.0 -90.5 -29.0 2.2 -207.3 -33.6 -29.3 -148.1 -38.9 1.0 73

74 Less: Statistical discrepancy (lines 33-70) (3) -165.6 -97.7 -79.1 69.3 504.4 186.0 115.2 154.6 59.6 216.3 74

 Revaluation account

75 Nonfinancial assets 14.2 10.2 -0.1 8.3 -29.1 -8.7 9.8 3.6 8.3 6.9 75

76 Structures (nonresidential) 17.5 14.5 6.5 11.8 -16.2 -1.5 9.1 3.8 7.8 6.2 76

77 Equipment -1.8 -2.5 -4.2 -1.1 -7.5 -3.6 0.8 -0.1 0.4 0.9 77

78 Intellectual property products -1.5 -1.8 -2.3 -2.5 -5.4 -3.5 -0.0 -0.1 0.1 -0.2 78

79 Financial assets 18.4 13.6 30.7 -34.4 96.7 32.4 -11.2 26.1 31.3 -11.3 79

80 Corporate equities 6.3 17.3 7.5 -55.8 23.5 11.7 -7.2 14.4 29.1 6.5 80

81 Mutual fund shares 1.2 3.6 1.6 -12.2 12.2 4.9 -2.6 5.5 10.9 2.6 81

82 U.S. direct investment abroad 10.9 -7.3 21.6 33.6 61.0 15.7 -1.4 6.1 -8.7 -20.4 82

83 Liabilities -19.6 167.2 -459.1 -561.6 5.6 59.5 -138.8 190.6 210.8 86.8 83

84 Corporate equity issues -17.8 175.8 -418.7 -514.3 -13.8 59.5 -169.3 157.6 212.2 84.0 84

85 Foreign direct investment in the United States -1.8 -8.6 -40.4 -47.3 19.5 -0.1 30.5 33.0 -1.4 2.8 85

86 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 86

87 Changes in net worth due to nominal holding gains/losses 52.3 -143.5 489.7 535.5 61.9 -35.7 137.3 -160.9 -171.2 -91.2 87

 Changes in balance sheet account

88 Change in net worth (lines 30+33+71+87) 225.9 -115.8 559.1 623.5 -460.0 -97.8 88.8 -383.3 -170.6 -218.4 88

 Balance sheet account (end of period)

89 Total assets 11410.5 12346.5 13510.1 14849.4 13928.4 14068.8 14957.0 15363.1 16300.7 17281.3 89

90 Nonfinancial assets (4) 326.5 352.2 365.5 387.8 374.2 371.4 376.7 377.4 380.2 383.5 90

91 Structures (nonresidential) 211.2 235.2 250.9 273.1 262.7 261.3 267.9 269.0 273.9 278.1 91

92 Equipment 98.3 98.8 95.9 96.0 92.1 90.9 89.4 87.8 85.9 84.7 92

93 Intellectual property products 17.0 18.3 18.6 18.7 19.5 19.1 19.4 20.6 20.5 20.6 93

94 Financial assets 11083.9 11994.3 13144.7 14461.6 13554.2 13697.4 14580.2 14985.6 15920.5 16897.9 94

95 Currency and deposits 88.3 89.4 96.7 933.2 1047.8 1035.2 1635.6 1575.8 2333.2 2462.7 95

96 Vault cash 50.1 51.7 55.0 57.7 54.9 52.7 60.8 71.1 73.6 75.7 96

97 Reserves at the Federal Reserve 19.0 18.7 20.8 860.0 977.0 968.1 1562.3 1491.0 2249.1 2378.0 97

98 Deposits at Federal Home Loan Banks 19.2 19.0 20.9 15.5 15.9 14.4 12.6 13.7 10.6 9.1 98

99 Debt securities 2425.1 2569.4 2709.0 2829.5 2944.4 3070.7 3208.7 3399.1 3445.3 3662.1 99

100 Open market paper 0.8 1.0 0.4 15.7 0.0 0.0 0.0 0.0 0.0 0.0 100

101 Treasury securities 116.0 112.3 122.7 101.9 196.6 299.6 252.9 339.5 304.4 499.8 101

102 Agency- and GSE-backed securities (2) 1357.1 1373.9 1258.2 1400.3 1579.9 1718.1 1851.7 1901.3 1943.8 1970.0 102

103 Municipal securities 166.6 191.4 204.0 224.4 227.8 257.1 303.9 371.9 427.0 458.0 103

104 Corporate and foreign bonds 784.6 890.8 1123.7 1087.2 940.0 795.9 800.2 786.3 770.2 734.2 104

105 Loans 7488.2 8235.1 9065.9 9202.4 8172.6 8292.5 8416.9 8768.6 8912.0 9490.4 105

106 Short term 3151.3 3502.8 4047.3 4188.2 3403.7 3709.4 3980.7 4346.2 4519.9 4959.3 106

107 Long term (mortgages) 4336.9 4732.3 5018.6 5014.2 4768.9 4583.0 4436.2 4422.4 4392.1 4531.1 107
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108 Equity and investment fund shares 241.3 258.1 337.2 319.7 440.4 465.6 443.7 455.1 487.6 481.9 108

109 Corporate equities 62.9 79.8 88.8 33.8 63.6 73.6 67.4 71.3 101.3 108.5 109

110 Mutual fund shares 19.5 26.6 31.6 21.6 47.4 46.5 43.5 48.1 60.1 61.8 110

111 Equity in government-sponsored enterprises (2) 40.5 40.4 48.0 41.8 42.1 38.9 33.4 31.3 30.2 30.2 111

112 U.S. direct investment abroad 104.9 95.9 150.3 201.5 261.7 280.1 272.5 277.0 268.5 252.9 112

113 Stock in Federal Reserve Banks 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 27.5 28.6 113

114 Insurance, pension and standardized guarantee schemes 0.0 93.4 104.3 110.7 111.5 116.0 125.5 138.0 143.8 149.6 114

115 Other accounts receivable 841.0 749.0 831.7 1066.0 837.5 717.4 749.9 649.0 598.4 651.0 115

116 Total liabilities and net worth 11410.5 12346.5 13510.1 14849.4 13928.4 14068.8 14957.0 15363.1 16300.7 17281.3 116

117 Liabilities 12434.4 13486.2 14090.7 14806.5 14345.5 14583.6 15383.0 16172.4 17280.6 18479.7 117

118 Currency and deposits 7243.8 7839.8 8363.4 9244.7 9510.1 9667.6 10646.6 11214.6 12185.3 12881.6 118

119 Checkable deposits 776.4 732.9 740.8 881.0 990.7 1072.0 1428.6 1629.2 1822.3 2021.2 119

120 Other deposits 6467.4 7106.9 7622.6 8363.8 8519.4 8595.6 9218.0 9585.4 10363.0 10860.5 120

121 Debt securities 134.5 160.8 185.5 185.3 177.0 490.1 500.1 383.4 280.7 263.5 121

122 Corporate bonds 130.4 159.9 184.8 184.8 176.3 377.1 379.4 295.9 221.0 209.0 122

123 Commercial paper 4.1 0.9 0.8 0.5 0.6 113.0 120.6 87.5 59.7 54.5 123

124 Loans (short term) 1520.8 1624.5 1917.0 2267.7 1392.2 1153.2 1063.3 1036.8 1019.2 1111.2 124

125 Equity and investment fund shares 2603.8 2956.8 2662.1 2286.7 2475.9 2561.5 2497.6 2856.2 3124.3 3390.1 125

126 Corporate equity issues 1295.2 1481.2 1070.0 567.8 565.6 637.1 474.1 633.3 847.7 934.4 126

127 Foreign direct investment in the United States 130.2 135.4 94.2 71.7 107.7 120.0 176.6 207.7 215.9 219.3 127

128 Investment by parent 1178.4 1340.2 1497.9 1647.2 1802.6 1804.4 1846.8 2015.2 2060.8 2236.4 128

129 Other accounts payable 931.5 904.3 962.7 822.1 790.3 711.3 675.4 681.4 671.1 833.2 129

130 Net worth -1023.9 -1139.7 -580.6 42.9 -417.1 -514.9 -426.0 -809.3 -979.9 -1198.3 130

(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.
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 Current account

 1 Gross value added 269.9 286.7 308.8 258.2 285.7 269.2 253.2 268.7 263.7 328.1 1

 2 Less: Consumption of fixed capital 24.7 25.2 25.6 26.7 27.6 27.4 27.0 27.7 29.5 31.7 2

 3 Equals: Net value added 245.3 261.6 283.2 231.6 258.1 241.9 226.2 241.0 234.2 296.4 3

 4 Compensation of employees (paid) 108.3 113.9 118.2 119.5 116.0 118.7 127.2 132.2 133.6 137.7 4

 5 Wages and salaries 89.8 95.3 99.1 99.3 97.4 99.5 107.1 112.1 113.3 117.0 5

 6 Employers’ social contributions 18.5 18.7 19.1 20.2 18.6 19.1 20.1 20.1 20.3 20.7 6

 7 Taxes on production and imports less subsidies 19.7 20.4 21.1 21.4 22.1 22.3 23.1 23.7 25.3 34.5 7

 8 Operating surplus, net 117.2 127.2 144.0 90.6 120.0 100.9 75.8 85.1 75.3 124.2 8

 9 Net national income/Balance of primary incomes, net 61.0 58.0 73.8 27.9 55.6 65.2 23.3 12.9 6.4 23.7 9

10 Operating surplus, net 117.2 127.2 144.0 90.6 120.0 100.9 75.8 85.1 75.3 124.2 10

11 Property income (received) 233.4 265.6 295.0 301.5 273.1 287.3 266.3 264.4 271.3 260.3 11

12 Interest 220.2 240.2 267.4 273.8 251.5 248.0 241.7 238.1 243.0 229.1 12

13 Distributed income of corporations (dividends) 12.5 15.3 17.4 19.2 12.2 27.9 13.0 15.5 16.2 18.4 13

14 Reinvested earnings on U.S. direct investment abroad 0.8 10.1 10.2 8.6 9.3 11.4 11.5 10.8 12.1 12.8 14

15 Less: Uses of property income (paid) 289.6 334.8 365.2 364.3 337.5 323.1 318.8 336.7 340.2 360.7 15

16 Interest 264.7 309.0 339.3 342.0 325.7 304.6 302.8 311.3 321.4 329.9 16

17 Distributed income of corporations 23.7 23.6 24.5 21.5 11.3 17.1 13.6 22.6 16.7 28.4 17

18 Dividends 17.1 17.2 18.1 15.5 5.4 13.5 10.8 19.1 11.8 23.7 18

19 Withdrawals from income of quasi-corporations (1) 6.6 6.4 6.4 6.1 5.9 3.7 2.8 3.5 4.9 4.7 19

20 Reinvested earnings on foreign direct investment 1.2 2.2 1.3 0.7 0.4 1.3 2.4 2.9 2.1 2.5 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 61.0 58.0 73.8 27.9 55.6 65.2 23.3 12.9 6.4 23.7 22

23 Less: Current taxes on income, wealth, etc. (paid) 32.6 45.3 42.4 20.7 25.0 28.9 23.0 29.1 33.2 31.8 23

24 Less: Other current transfers (paid) -21.3 -39.9 -7.6 31.5 -4.9 -8.4 -13.9 -67.8 -63.8 -42.9 24

25 Equals: Disposable income, net 49.8 52.6 38.9 -24.4 35.4 44.7 14.3 51.5 37.0 34.9 25

26 Equals: Net saving 49.8 52.6 38.9 -24.4 35.4 44.7 14.3 51.5 37.0 34.9 26

 Capital account

27 Net saving less capital transfers 22.1 52.6 38.9 -21.6 40.9 44.7 14.3 37.1 37.0 34.9 27

28 Net saving 49.8 52.6 38.9 -24.4 35.4 44.7 14.3 51.5 37.0 34.9 28

29 Less: Capital transfers paid (net) 27.7 0.0 0.0 -2.8 -5.5 0.0 0.0 14.3 0.0 0.0 29

30 Capital formation, net -0.3 -1.0 0.4 0.8 0.1 -4.3 -2.4 -0.2 3.0 3.1 30

31 Gross fixed capital formation (nonresidential) 24.3 24.2 26.0 27.4 27.7 23.1 24.7 27.5 32.5 34.8 31

32 Less: Consumption of fixed capital 24.7 25.2 25.6 26.7 27.6 27.4 27.0 27.7 29.5 31.7 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) 22.4 53.6 38.5 -22.3 40.8 49.0 16.6 37.3 34.0 31.7 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 22.4 53.6 38.5 -22.3 40.8 49.0 16.6 37.3 34.0 31.7 34

35 Net acquisition of financial assets 227.4 235.9 227.6 154.1 150.9 160.6 243.6 130.1 92.3 183.5 35

36 Currency and deposits -10.4 17.2 15.1 9.6 -32.4 6.0 -6.5 15.0 -16.0 9.5 36

37 Debt securities 171.6 83.4 53.1 -41.0 202.5 164.6 137.9 60.9 83.7 90.0 37

38 Open market paper 0.5 4.9 9.9 2.4 2.2 -10.8 -10.4 12.5 3.8 -4.7 38

39 Treasury securities 13.9 -4.5 -56.0 29.5 50.7 26.4 23.4 -1.2 -5.8 20.6 39

40 Agency- and GSE-backed securities (2) 17.2 12.9 9.3 -28.2 7.7 3.6 5.3 -21.8 -11.7 -18.3 40

41 Municipal securities 47.8 26.1 40.9 16.3 13.5 18.2 -7.9 6.8 8.4 1.9 41

42 Corporate and foreign bonds 92.2 43.9 49.0 -60.9 128.4 127.3 127.5 64.6 88.9 90.5 42

43 Loans 17.1 28.1 38.8 42.7 -27.1 -9.2 17.6 15.8 19.3 32.0 43

44 Short term 4.7 9.0 15.1 26.3 -10.3 -0.3 1.8 3.2 -1.8 8.4 44

45 Long term (mortgages) 12.4 19.1 23.7 16.4 -16.8 -8.9 15.8 12.6 21.1 23.6 45

46 Equity and investment fund shares 36.0 61.9 89.1 110.9 34.3 5.9 34.2 6.8 -25.2 -25.5 46

47 Corporate equities 9.2 -33.2 -25.8 62.1 -4.1 -12.6 18.0 -0.0 -8.8 -2.0 47

48 Mutual fund shares 19.4 74.4 77.1 -12.4 45.5 63.1 10.3 4.1 -18.2 -32.0 48

49 Money market mutual fund shares -4.6 16.7 13.8 48.7 -24.6 -24.1 2.3 -3.6 -12.2 2.1 49

50 Equity in government-sponsored enterprises (2) -0.1 0.0 0.6 1.0 -0.3 -0.1 -0.8 0.1 0.9 0.1 50

51 U.S. direct investment abroad 12.2 3.9 23.4 11.5 17.9 -20.4 4.4 6.3 13.1 6.2 51

52 Insurance, pension and standardized guarantee schemes 1.0 0.5 1.0 3.2 -4.9 2.7 -0.4 0.6 3.0 1.2 52

53 Other accounts receivable 12.1 44.8 30.6 28.7 -21.6 -9.4 60.9 31.0 27.5 76.3 53

54 Net incurrence of liabilities 185.5 189.8 151.8 131.8 21.8 164.0 210.6 46.4 59.3 103.8 54

55 Currency and deposits (funding agreements) 15.1 12.0 13.4 -6.2 -33.3 -9.7 -8.5 -0.4 -8.4 9.2 55

56 Loans (short term) 8.0 2.9 12.7 19.6 -6.6 -4.8 5.1 4.9 8.7 2.5 56
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57 Equity and investment fund shares -0.9 11.7 -32.5 4.6 16.6 13.9 -20.5 -26.8 -11.9 -25.6 57

58 Corporate equity issues -10.8 -28.5 -43.9 -10.3 -6.2 -17.5 -22.3 -24.5 -16.8 -31.8 58

59 Foreign direct investment in the United States 0.2 37.5 6.1 27.4 13.5 9.1 -7.5 -5.8 12.4 5.3 59

60 Investment by parent 9.7 2.7 5.3 -12.5 9.3 22.2 9.3 3.5 -7.6 0.9 60

61 Insurance, pension and standardized guarantee schemes 180.0 129.2 129.4 154.4 106.0 154.5 223.5 45.8 50.5 90.4 61

62 Other accounts payable -16.8 34.1 28.8 -40.6 -60.9 10.2 10.9 22.9 20.5 27.4 62

 Addendum:

63 Net lending (+) or borrowing (-), financial account (lines 35-54) 42.0 46.1 75.8 22.4 129.1 -3.4 33.0 83.7 33.0 79.6 63

 Other changes in volume account

64 Total other volume changes -1.9 -52.5 21.1 171.5 22.1 -96.0 47.7 -18.0 -84.4 39.8 64

65 Disaster losses -0.2 0.0 0.0 -0.1 0.0 0.0 0.0 -0.1 0.0 0.0 65

66 Other volume changes -21.3 -45.0 -16.1 126.9 -66.2 -43.7 31.3 -64.2 -83.4 -8.1 66

67 Less: Statistical discrepancy (lines 33-63) (3) -19.6 7.5 -37.2 -44.7 -88.3 52.4 -16.4 -46.4 1.1 -47.9 67

 Revaluation account

68 Nonfinancial assets 11.6 11.2 5.7 10.3 -8.4 0.2 5.7 2.1 5.1 3.6 68

69 Structures (nonresidential) 11.6 10.3 6.0 9.2 -7.3 0.2 5.1 2.2 4.6 3.5 69

70 Equipment -0.3 0.3 -0.6 0.9 -0.7 0.2 0.5 -0.0 0.2 0.5 70

71 Intellectual property products 0.2 0.6 0.3 0.2 -0.4 -0.2 0.0 -0.1 0.3 -0.4 71

72 Financial assets 81.2 188.2 86.8 -675.0 235.6 178.9 -46.6 215.5 364.1 114.8 72

73 Corporate equities 12.9 53.7 17.0 -169.3 12.7 39.6 2.0 50.3 110.4 35.0 73

74 Mutual fund shares 64.7 135.4 71.9 -475.1 215.7 126.2 -43.1 148.3 256.6 83.8 74

75 U.S. direct investment abroad 3.6 -0.8 -2.2 -30.6 7.2 13.1 -5.4 16.9 -3.0 -4.0 75

76 Liabilities 79.7 266.9 -162.8 -828.7 236.6 162.6 -64.5 203.6 322.6 159.3 76

77 Corporate equity issues 29.6 139.8 -192.8 -386.4 49.4 42.5 -61.5 79.5 122.2 59.1 77

78 Foreign direct investment in the United States -2.3 7.8 -32.0 -61.3 9.1 11.9 30.0 -8.3 -43.6 11.8 78

79 Pension fund reserves 52.4 119.2 62.0 -381.1 178.0 108.3 -33.1 132.4 244.0 88.5 79

80 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 Changes in net worth due to nominal holding gains/losses 13.2 -67.5 255.3 164.1 -9.3 16.5 23.7 14.0 46.6 -41.0 81

 Changes in balance sheet account

82 Change in net worth (lines 30+33+64+81) 33.4 -67.3 315.3 314.0 53.7 -34.8 85.6 33.2 -0.8 33.6 82

 Balance sheet account (end of period)

83 Total assets 5818.4 6253.1 6574.6 6070.2 6445.9 6765.5 6961.1 7300.2 7763.9 8070.3 83

84 Nonfinancial assets (4) 221.3 232.0 238.9 250.1 241.6 237.2 240.3 242.9 250.4 256.9 84

85 Structures (nonresidential) 134.2 144.3 150.8 159.4 151.7 149.6 152.3 152.1 155.0 157.4 85

86 Equipment 49.8 49.7 48.9 49.5 47.3 46.3 46.2 46.4 47.3 48.5 86

87 Intellectual property products 37.3 38.0 39.2 41.2 42.6 41.3 41.8 44.4 48.1 51.0 87

88 Financial assets 5597.1 6021.1 6335.7 5820.1 6204.3 6528.3 6720.8 7057.4 7513.5 7813.4 88

89 Currency and deposits 68.8 86.0 101.0 110.7 78.3 84.3 77.8 92.8 76.9 86.4 89

90 Debt securities 3162.2 3210.6 3263.7 3222.8 3437.9 3602.5 3740.4 3801.2 3884.9 3974.9 90

91 Open market paper 40.2 45.1 55.0 57.4 59.6 48.8 38.5 50.9 54.8 50.1 91

92 Treasury securities 202.3 197.9 141.9 171.4 222.0 248.4 271.8 270.6 264.7 285.4 92

93 Agency- and GSE-backed securities (2) 486.5 499.4 508.7 480.5 488.2 491.7 497.0 475.2 463.6 445.3 93

94 Municipal securities 345.7 371.8 412.7 429.0 442.5 460.7 452.8 459.6 468.0 469.9 94

95 Corporate and foreign bonds 2087.6 2096.5 2145.5 2084.6 2225.5 2352.8 2480.3 2544.9 2633.8 2724.3 95

96 Loans 416.3 444.3 483.1 525.8 486.2 477.0 494.6 510.4 529.7 561.7 96

97 Short term 128.1 137.1 152.2 178.5 155.7 155.4 157.2 160.3 158.5 167.0 97

98 Long term (mortgages) 288.2 307.3 330.9 347.4 330.5 321.6 337.4 350.0 371.1 394.7 98

99 Equity and investment fund shares 1626.2 1911.4 2087.2 1523.1 1793.1 1977.9 1965.5 2187.9 2526.7 2616.0 99

100 Corporate equities 461.9 517.4 508.6 401.4 410.0 437.0 457.0 507.2 608.9 641.8 100

101 Mutual fund shares 987.8 1197.6 1346.6 859.1 1120.3 1309.6 1276.7 1429.2 1667.7 1719.5 101

102 Money market fund shares 52.6 69.3 83.1 131.8 107.2 83.1 85.4 81.8 69.5 71.7 102

103 Equity in government-sponsored enterprises (2) 1.6 1.6 2.2 3.2 2.9 2.8 2.0 2.1 3.0 3.1 103

104 U.S. direct investment abroad 122.3 125.4 146.7 127.6 152.7 145.4 144.4 167.6 177.7 179.9 104

105 Insurance, pension and standardized guarantee schemes 22.4 22.8 23.9 27.0 22.1 24.7 24.3 24.9 27.9 29.1 105

106 Other accounts receivable 301.2 346.0 376.7 410.7 386.8 361.9 418.3 440.2 467.5 545.3 106
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

107 Total liabilities and net worth 5818.4 6253.1 6574.6 6070.2 6445.9 6765.5 6961.1 7300.2 7763.9 8070.3 107

108 Liabilities 5723.0 6225.1 6231.2 5412.7 5734.8 6089.2 6199.1 6505.1 6969.6 7242.3 108

109 Currency and deposits (funding agreements) 102.2 114.1 127.5 121.3 88.1 78.4 70.0 69.6 61.1 70.4 109

110 Loans (short term) 32.1 35.0 47.7 67.3 60.7 55.9 61.0 65.9 74.6 77.0 110

111 Equity and investment fund shares 1036.4 1195.7 938.4 495.4 570.5 638.7 586.8 584.1 645.8 691.0 111

112 Corporate equity issues 874.8 986.1 749.4 352.7 396.0 420.9 337.2 392.2 497.6 524.9 112

113 Foreign direct investment in the United States 125.9 171.2 145.3 111.4 134.1 155.0 177.5 163.4 132.2 149.3 113

114 Investment by parent 35.6 38.3 43.7 31.2 40.5 62.7 72.0 28.4 15.9 16.8 114

115 Insurance, pension and standardized guarantee schemes 4339.1 4624.1 4830.9 4461.9 4807.6 5106.8 5285.8 5501.2 5860.1 6056.1 115

116 Other accounts payable 213.2 256.2 286.6 266.9 207.9 209.4 195.6 284.4 327.9 347.9 116

117 Net worth 95.4 28.1 343.4 657.5 711.1 676.3 761.9 795.1 794.3 828.0 117

(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.
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 Current account

 1 Gross value added 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Equals: Net value added 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Compensation of employees (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Wages and salaries 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Employers’ social contributions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Taxes on production and imports less subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Operating surplus, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Net national income/Balance of primary incomes, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 Operating surplus, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 Property income (received) 369.7 390.5 418.0 465.1 489.4 476.5 482.6 504.7 519.1 523.2 11

12 Interest 279.0 284.9 296.0 335.4 371.3 360.9 366.2 375.4 374.0 361.4 12

13 Distributed income of corporations (dividends) 90.7 105.6 121.9 129.7 118.0 115.6 116.4 129.3 145.0 161.9 13

14 Reinvested earnings on U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Less: Uses of property income (paid) 369.7 390.5 418.0 465.1 489.4 476.5 482.6 504.7 519.1 523.2 15

16 Interest 279.0 284.9 296.0 335.4 371.3 360.9 366.2 375.4 374.0 361.4 16

17 Distributed income of corporations 90.7 105.6 121.9 129.7 118.0 115.6 116.4 129.3 145.0 161.9 17

18 Dividends 90.7 105.6 121.9 129.7 118.0 115.6 116.4 129.3 145.0 161.9 18

19 Withdrawals from income of quasi-corporations (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Reinvested earnings on foreign direct investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Less: Current taxes on income, wealth, etc. (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Plus: Other current transfers received, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

26 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 Capital account

27 Net saving less capital transfers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Less: Capital transfers (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Capital formation, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Gross fixed capital formation (nonresidential) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 Addenda:

34 Other current transfers received, net (line 24) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 Contributions received 955.3 1018.7 1087.3 1162.5 1183.2 1206.1 1227.0 1269.9 1299.5 1325.6 35

36 Claims to pension benefits 587.9 630.7 672.0 700.2 697.3 734.2 749.1 770.3 786.2 808.5 36

37 Actual employer contributions 347.4 370.3 389.5 453.3 467.0 503.5 525.8 539.1 546.5 554.1 37

38 Imputed employer contributions 36.1 34.9 39.2 -5.8 -22.9 -30.1 -51.5 -59.1 -60.1 -60.2 38

39 Actual household contributions 222.9 247.3 267.2 273.3 271.0 280.5 295.2 311.9 322.3 337.7 39

40 Less: pension service charges for defined benefit (DB) plans 18.5 21.9 23.9 20.6 17.9 19.7 20.3 21.6 22.5 23.0 40

41 Household pension contribution supplements 369.7 390.5 418.0 465.1 489.4 476.5 482.6 504.7 519.1 523.2 41

42 Less: pension service charge for defined contribution (DC) plans 2.3 2.5 2.8 2.8 3.4 4.5 4.8 5.1 5.7 6.2 42

43 Less: benefit payments and withdrawals 628.5 706.9 772.9 766.4 762.2 831.7 864.7 945.5 1009.6 1068.8 43

44 Less: net change in benefit entitlements from DB plans 200.5 186.8 187.1 211.9 231.4 221.7 207.2 177.2 131.6 87.8 44

45 Less: net change in assets from current transaction for DC plans 126.2 124.9 127.3 184.1 189.6 152.7 155.1 147.2 158.3 169.0 45

 Financial account

46 Net lending (+) or borrowing (-) (line 33) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 Net acquisition of financial assets 460.8 484.3 465.2 300.7 591.6 567.3 429.8 490.4 442.5 403.3 47

48 Currency and deposits 8.7 7.2 8.2 -9.3 0.8 7.8 9.7 -8.8 6.8 5.8 48

49 Currency and transferable deposits -6.5 -2.4 1.5 -5.7 -2.7 2.6 5.7 -2.3 -0.1 0.9 49

50 Time and savings deposits 15.2 9.6 6.8 -3.6 3.5 5.1 4.0 -6.5 6.9 4.9 50

51 Debt securities 123.5 182.6 107.6 69.8 -9.3 216.0 176.1 196.4 287.5 154.4 51

52 Open market paper -4.3 2.2 7.3 -5.9 2.2 3.9 4.5 -7.7 7.8 6.4 52

53 Treasury securities 54.6 56.3 34.8 79.5 118.4 113.8 139.7 128.0 124.3 88.4 53

54 Agency- and GSE-backed securities (2) -30.2 23.2 -1.4 -31.6 -11.0 9.7 -35.2 -21.3 -4.6 -15.1 54

55 Municipal securities -0.9 -0.0 -0.2 -0.1 0.1 0.7 -0.6 -0.0 0.9 1.0 55

56 Corporate and foreign bonds 104.3 100.9 67.1 28.0 -119.0 87.8 67.7 97.3 159.1 73.8 56
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57 Loans -9.6 -1.3 4.6 -11.9 -5.1 2.6 -5.0 -0.4 -0.6 0.4 57

58 Short term -7.8 -2.9 0.4 -1.1 -0.0 0.1 0.1 -0.6 0.6 0.5 58

59 Long term (mortgages) -1.8 1.6 4.2 -10.8 -5.1 2.5 -5.2 0.2 -1.2 -0.1 59

60 Equity and investment fund shares 75.3 -39.0 75.6 -15.4 83.1 42.5 -131.3 -73.3 -232.1 -100.5 60

61 Corporate equities -9.2 -119.7 37.3 40.2 -57.1 -47.1 -151.6 -103.3 -377.6 -207.7 61

62 Mutual fund shares 65.8 63.9 27.6 -60.0 155.5 99.0 4.3 50.7 129.6 111.7 62

63 Money market mutual fund shares 18.7 16.8 10.7 4.4 -15.3 -9.4 16.0 -20.7 15.9 -4.5 63

64 Insurance, pension and standardized guarantee schemes 223.3 295.4 232.3 287.4 498.8 265.4 333.6 342.9 339.1 309.7 64

65 Other accounts receivable 39.6 39.5 36.9 -19.8 23.3 33.1 46.9 33.5 41.8 33.5 65

66 Net incurrence of liabilities (pension entitlements) 461.0 484.5 465.5 300.7 591.5 567.2 429.7 490.6 442.8 403.6 66

 Addendum:

67 Net lending (+) or borrowing (-), financial account (lines 47-66) -0.2 -0.1 -0.3 -0.0 0.1 0.1 0.1 -0.2 -0.2 -0.3 67

 Other changes in volume account

68 Total other volume changes -225.0 -493.2 -161.9 1326.3 -570.2 -417.8 31.3 -405.9 -929.7 -370.2 68

69 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 69

70 Other volume changes -224.7 -493.1 -161.6 1326.3 -570.3 -417.9 31.3 -405.7 -929.5 -369.8 70

71 Less: Statistical discrepancy (lines 33-67) (3) 0.2 0.1 0.3 0.0 -0.1 -0.1 -0.1 0.2 0.2 0.3 71

 Revaluation account

72 Nonfinancial assets 0.5 0.4 0.2 0.4 -0.3 0.0 0.2 0.1 0.2 0.2 72

73 Structures (nonresidential) 0.5 0.4 0.2 0.4 -0.3 0.0 0.2 0.1 0.2 0.2 73

74 Equipment 0.0 0.0 0.0 0.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 74

75 Intellectual property products 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 75

76 Financial assets 465.8 838.5 297.8 -2367.7 1037.8 721.1 -128.7 732.7 1643.5 601.7 76

77 Corporate equities 165.3 526.9 148.3 -1516.1 657.9 507.4 -26.1 483.4 1150.4 456.3 77

78 Mutual fund shares 300.6 311.6 149.5 -851.6 380.0 213.7 -102.6 249.2 493.1 145.4 78

79 Liabilities (pension entitlements) 247.9 375.7 157.4 -1057.5 479.4 305.3 -93.0 339.9 735.5 244.6 79

80 Changes in net worth due to nominal holding gains/losses 218.4 463.2 140.7 -1309.8 558.2 415.8 -35.5 392.8 908.1 357.3 80

 Changes in balance sheet account

81 Change in net worth (lines 30+33+68+80) -6.5 -30.0 -21.2 16.5 -12.1 -2.0 -4.1 -13.1 -21.5 -12.9 81

 Balance sheet account (end of period)

82 Total assets 11369.5 12185.5 12833.7 12117.5 13164.6 14538.3 14909.9 15747.7 16902.3 17578.4 82

83 Nonfinancial assets (4) 5.1 5.7 6.2 6.6 6.2 6.2 6.3 6.6 7.0 7.5 83

84 Structures (nonresidential) 5.0 5.6 6.1 6.5 6.1 6.1 6.2 6.4 6.8 7.3 84

85 Equipment 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 85

86 Intellectual property products 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 86

87 Financial assets 11364.3 12179.9 12827.5 12110.9 13158.3 14532.1 14903.6 15741.1 16895.3 17570.9 87

88 Currency and deposits 92.1 72.8 81.1 71.7 72.6 80.3 90.0 81.2 88.0 93.8 88

89 Currency and transferable deposits 16.7 20.6 22.1 16.4 13.7 16.4 22.1 19.8 19.6 20.6 89

90 Time and savings deposits 75.3 52.2 59.0 55.4 58.8 63.9 68.0 61.4 68.3 73.2 90

91 Debt securities 2319.3 2476.7 2584.3 2654.1 2644.8 2860.7 3036.8 3233.2 3520.7 3675.1 91

92 Open market paper 48.7 67.0 74.3 68.4 70.5 74.5 78.9 71.3 79.1 85.5 92

93 Treasury securities 1214.9 1280.2 1315.0 1394.5 1512.8 1626.7 1766.3 1894.4 2018.6 2107.1 93

94 Agency- and GSE-backed securities (2) 433.0 373.7 372.2 340.6 329.6 339.3 304.1 282.8 278.2 263.1 94

95 Municipal securities 1.6 1.6 1.4 1.3 1.3 2.0 1.4 1.4 2.4 3.3 95

96 Corporate and foreign bonds 621.1 754.3 821.4 849.4 730.4 818.3 886.0 983.3 1142.4 1216.2 96

97 Loans 52.3 53.8 58.4 46.4 41.4 43.9 38.9 38.5 37.9 38.3 97

98 Short term 29.0 6.5 6.9 5.8 5.8 5.9 6.0 5.5 6.1 6.6 98

99 Long term (mortgages) 23.3 47.3 51.5 40.6 35.6 38.0 32.9 33.1 31.8 31.7 99

100 Equity and investment fund shares 6370.4 6654.2 7027.7 4644.5 5765.5 6529.0 6268.9 6928.3 8339.7 8840.9 100

101 Corporate equities 4004.2 3877.0 4062.7 2586.7 3187.5 3647.8 3470.1 3850.2 4623.0 4871.6 101

102 Mutual fund shares 2235.1 2575.2 2752.4 1840.8 2376.3 2688.9 2590.6 2890.5 3513.3 3770.3 102

103 Money market fund shares 131.1 201.9 212.6 217.0 201.7 192.3 208.2 187.6 203.4 199.0 103

104 Insurance, pension and standardized guarantee schemes 2324.2 2329.0 2445.9 4083.7 4000.5 4351.3 4755.3 4712.7 4120.1 4100.3 104

105 Other accounts receivable 206.1 593.3 630.2 610.4 633.7 666.8 713.6 747.2 789.0 822.5 105
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

106 Total liabilities and net worth 11369.5 12185.5 12833.7 12117.5 13164.6 14538.3 14909.9 15747.7 16902.3 17578.4 106

107 Liabilities (pension entitlements) 11457.5 12303.6 12973.0 12240.3 13299.4 14675.1 15050.9 15901.7 17077.9 17766.8 107

108 Net worth -88.1 -118.0 -139.2 -122.8 -134.9 -136.9 -141.0 -154.0 -175.6 -188.4 108

(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.
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Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 Current account

 1 Gross value added 491.2 538.9 445.4 285.9 445.0 509.9 551.2 641.7 616.6 669.9 1

 2 Less: Consumption of fixed capital 93.0 99.7 107.3 114.5 116.9 116.7 109.0 113.3 119.7 126.6 2

 3 Equals: Net value added 398.2 439.2 338.1 171.4 328.2 393.2 442.3 528.3 496.9 543.3 3

 4 Compensation of employees (paid) 297.0 330.4 358.5 358.6 283.7 302.5 318.8 328.4 333.7 371.5 4

 5 Wages and salaries 249.8 280.5 307.7 305.3 241.8 256.7 270.3 279.8 284.3 317.7 5

 6 Employers’ social contributions 47.2 49.9 50.8 53.3 41.9 45.8 48.5 48.6 49.4 53.8 6

 7 Taxes on production and imports less subsidies 23.5 25.5 26.6 25.8 32.7 33.1 25.6 26.5 24.3 24.3 7

 8 Operating surplus, net 77.7 83.3 -47.1 -212.9 11.8 57.6 97.9 173.4 139.0 147.5 8

 9 Net national income/Balance of primary incomes, net 34.2 35.5 -64.3 -197.7 8.5 59.3 95.4 87.3 -59.5 38.0 9

10 Operating surplus, net 77.7 83.3 -47.1 -212.9 11.8 57.6 97.9 173.4 139.0 147.5 10

11 Property income (received) 1146.7 1601.4 1959.5 1619.3 977.5 871.9 894.8 855.3 819.0 840.6 11

12 Interest 1021.8 1441.3 1752.9 1403.8 807.6 673.4 672.8 614.6 532.7 510.8 12

13 Distributed income of corporations (dividends) 123.5 137.9 180.7 187.1 143.5 163.3 188.0 212.7 256.2 298.2 13

14 Reinvested earnings on U.S. direct investment abroad 1.4 22.2 25.9 28.5 26.5 35.2 34.0 27.9 30.1 31.6 14

15 Less: Uses of property income (paid) 1190.2 1649.2 1976.7 1604.1 980.8 870.2 897.3 941.4 1017.5 950.1 15

16 Interest 948.9 1377.6 1668.9 1286.7 701.3 591.0 616.8 592.9 536.1 539.9 16

17 Distributed income of corporations 237.4 265.4 302.3 312.5 277.1 272.4 272.0 340.1 473.3 401.7 17

18 Dividends 196.5 221.9 269.0 295.7 208.9 191.5 220.6 275.9 429.9 354.9 18

19 Withdrawals from income of quasi-corporations (1) 40.9 43.5 33.3 16.7 68.2 81.0 51.4 64.2 43.4 46.9 19

20 Reinvested earnings on foreign direct investment 3.9 6.3 5.5 4.9 2.4 6.8 8.5 8.4 8.0 8.4 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 34.2 35.5 -64.3 -197.7 8.5 59.3 95.4 87.3 -59.5 38.0 22

23 Less: Current taxes on income, wealth, etc. (paid) 31.4 37.1 33.5 13.5 16.5 23.2 28.4 32.9 44.4 43.3 23

24 Less: Other current transfers (paid) 3.4 14.1 10.1 9.1 26.2 21.2 26.9 34.2 37.5 42.7 24

25 Equals: Disposable income, net -0.6 -15.7 -107.9 -220.2 -34.2 14.9 40.1 20.2 -141.5 -48.0 25

26 Equals: Net saving -0.6 -15.7 -107.9 -220.2 -34.2 14.9 40.1 20.2 -141.5 -48.0 26

 Capital account

27 Net saving less capital transfers -0.6 -15.7 -107.9 -205.3 64.2 56.4 72.2 24.9 -141.5 -58.0 27

28 Net saving -0.6 -15.7 -107.9 -220.2 -34.2 14.9 40.1 20.2 -141.5 -48.0 28

29 Less: Capital transfers paid (net) 0.0 0.0 0.0 -14.9 -98.4 -41.5 -32.1 -4.7 0.0 10.0 29

30 Capital formation, net 30.9 27.7 43.1 17.9 -10.6 -4.8 6.4 21.6 26.7 32.0 30

31 Gross fixed capital formation (nonresidential) 123.9 127.4 150.4 132.4 106.3 111.9 115.4 134.9 146.4 158.6 31

32 Less: Consumption of fixed capital 93.0 99.7 107.3 114.5 116.9 116.7 109.0 113.3 119.7 126.6 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) -31.5 -43.4 -151.0 -223.2 74.8 61.2 65.8 3.4 -168.2 -90.0 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -31.5 -43.4 -151.0 -223.2 74.8 61.2 65.8 3.4 -168.2 -90.0 34

35 Net acquisition of financial assets 2073.4 2877.5 3595.5 697.4 -1211.8 -608.6 -23.1 433.5 368.7 642.0 35

36 Currency and deposits -0.7 61.2 153.1 169.9 110.7 -157.9 -86.7 8.0 68.9 -22.0 36

37 Debt securities 114.1 680.7 722.4 740.4 -804.3 14.5 136.3 467.6 -219.4 -79.7 37

38 Open market paper 197.8 225.2 -137.1 -5.4 -379.4 -86.7 -69.1 -4.8 9.1 -26.8 38

39 Treasury securities 12.5 25.7 123.5 678.9 -112.8 85.4 256.2 107.9 -143.3 61.1 39

40 Agency- and GSE-backed securities (2) -242.4 68.4 416.1 565.7 -517.6 -175.5 165.4 103.1 -181.1 -153.0 40

41 Municipal securities 45.8 75.8 143.7 -9.9 17.1 -17.5 -47.7 48.4 -82.1 -10.6 41

42 Corporate and foreign bonds 100.5 285.5 176.2 -488.9 188.5 208.8 -168.5 213.0 178.1 49.7 42

43 Loans 1326.2 1298.6 1728.9 -305.6 -515.9 -63.4 -36.9 101.9 -112.7 167.3 43

44 Short term 417.5 318.9 919.9 -508.7 -664.5 64.0 42.8 202.5 -197.2 147.6 44

45 Long term (mortgages) 908.6 979.7 809.1 203.1 148.6 -127.4 -79.7 -100.6 84.4 19.7 45

46 Equity and investment fund shares 415.2 422.7 922.5 573.0 -0.6 -53.2 81.8 150.2 403.7 489.7 46

47 Corporate equities 245.3 228.8 290.7 57.0 193.7 135.4 45.9 87.7 366.6 284.2 47

48 Money market mutual fund shares -2.1 -32.4 317.9 253.6 -153.7 -148.0 -83.4 -62.4 -61.5 13.4 48

49 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.1 -0.0 0.0 0.1 0.3 49

50 U.S. direct investment abroad -1.2 23.5 50.8 37.4 23.5 15.4 16.9 15.8 10.3 15.1 50

51 Investment in subsidiaries 173.2 202.8 263.1 225.0 -64.1 -56.0 102.4 109.1 88.2 176.7 51

52 Insurance, pension and standardized guarantee schemes 0.0 -0.4 5.3 -1.2 2.1 3.8 2.4 7.3 5.1 5.0 52

53 Other accounts receivable 218.6 414.8 63.3 -479.1 -3.7 -352.5 -120.1 -301.5 223.3 81.7 53

54 Net incurrence of liabilities 1950.2 2776.0 3617.4 1228.6 -1329.7 -620.2 -74.3 366.0 265.0 575.7 54

55 Currency and deposits 0.8 -0.2 1.9 -5.4 0.4 -1.5 -1.8 1.2 -3.2 -1.5 55
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

56 Debt securities 1034.2 1287.4 1515.6 454.3 -944.9 -610.5 -364.6 -200.9 167.7 193.7 56

57 Agency- and GSE-backed securities (2) 80.4 328.2 905.7 768.7 -60.1 -39.5 -22.1 -23.8 238.3 150.3 57

58 Corporate bonds 739.7 762.5 721.4 -189.0 -436.6 -488.9 -266.6 -151.4 -49.5 75.6 58

59 Commercial paper 214.2 196.6 -111.4 -125.4 -448.2 -82.1 -75.8 -25.6 -21.1 -32.1 59

60 Loans 412.4 485.2 561.3 -574.9 -751.6 202.3 246.7 142.8 -392.6 -130.1 60

61 Short term 398.3 478.6 556.6 -581.6 -763.4 201.4 233.2 137.9 -412.4 -139.4 61

62 Long term (mortgages) 14.1 6.6 4.7 6.8 11.8 0.8 13.5 4.8 19.9 9.3 62

63 Equity and investment fund shares 656.4 806.2 1359.1 1498.1 144.8 47.6 311.1 648.0 614.6 603.4 63

64 Money market mutual fund shares 125.1 311.6 747.3 746.5 -516.3 -512.4 -112.6 2.2 24.6 6.8 64

65 Corporate equity issues 80.8 78.4 215.9 637.4 308.7 195.1 177.5 178.3 172.8 247.4 65

66 Mutual fund shares 286.0 346.2 376.1 -58.1 533.4 395.9 200.7 386.2 346.0 309.4 66

67 Equity in government-sponsored enterprises (2) 1.9 0.2 9.1 -4.2 0.0 -2.7 -5.9 -1.8 0.5 1.2 67

68 Foreign direct investment in the United States 4.3 0.7 4.0 68.6 15.6 27.0 24.9 12.8 9.1 7.7 68

69 Equity in noncorporate business -1.2 -6.8 3.6 11.6 0.6 0.9 -2.9 6.7 -5.6 2.0 69

70 Investment by parent 159.4 76.0 3.1 96.3 -197.0 -56.1 29.4 63.6 67.1 28.9 70

71 Other accounts payable -153.6 197.4 179.5 -143.5 221.6 -258.1 -265.6 -225.0 -121.6 -89.7 71

 Addendum:

72 Net lending (+) or borrowing (-), financial account (lines 35-53) 123.1 101.6 -22.0 -531.2 117.9 11.6 51.2 67.5 103.8 66.3 72

 Other changes in volume account

73 Total other volume changes 82.4 158.1 4.0 -465.7 447.8 53.5 72.8 528.1 42.0 180.0 73

74 Disaster losses -0.8 0.0 0.0 -0.3 0.0 2.1 0.0 -1.3 0.0 0.0 74

75 Other volume changes -71.4 13.1 -125.0 -157.4 404.7 101.0 87.4 465.2 -230.0 23.7 75

76 Less: Statistical discrepancy (lines 33-71) (3) -154.6 -145.0 -129.0 308.0 -43.1 49.6 14.6 -64.2 -271.9 -156.3 76

 Revaluation account

77 Nonfinancial assets 45.6 41.4 22.4 36.2 -23.7 3.6 26.2 12.5 20.6 18.9 77

78 Structures (nonresidential) 41.8 36.9 21.0 32.3 -26.1 0.9 18.5 9.2 17.5 14.7 78

79 Equipment 2.7 2.9 -0.1 3.1 2.7 2.5 7.1 3.0 1.9 4.2 79

80 Intellectual property products 1.1 1.6 1.6 0.8 -0.3 0.2 0.6 0.3 1.2 -0.0 80

81 Financial assets 455.8 945.7 554.6 -3213.1 1400.9 843.2 -478.9 956.8 1954.2 545.7 81

82 Corporate equities 439.7 902.0 528.3 -3220.8 1414.8 831.4 -440.2 957.5 1956.5 556.0 82

83 U.S. direct investment abroad 16.2 43.7 26.3 7.7 -14.0 11.9 -38.7 -0.7 -2.3 -10.2 83

84 Liabilities 653.1 1278.0 125.4 -4595.4 1820.4 1324.0 -538.9 1527.8 2644.4 1002.5 84

85 Corporate equity issues 253.4 400.9 -368.3 -1464.9 353.2 466.1 -218.6 502.1 1022.3 497.9 85

86 Mutual fund shares 384.4 849.0 478.6 -3067.9 1474.9 837.3 -289.2 1035.9 1623.5 508.2 86

87 Foreign direct investment in the United States 13.6 23.3 15.7 -49.1 -10.7 22.4 -31.7 -8.8 -5.6 -3.1 87

88 Equity in noncorporate business 1.7 4.8 -0.6 -13.6 3.6 0.3 -1.2 -1.3 4.2 -0.5 88

89 Investment by parent 0.0 0.0 0.0 0.0 -0.6 -2.0 1.8 -0.1 0.0 0.0 89

90 Changes in net worth due to nominal holding gains/losses -151.7 -290.8 451.7 1418.5 -443.3 -477.1 86.2 -558.4 -669.6 -437.9 90

 Changes in balance sheet account

91 Change in net worth (lines 30+33+72+89) -69.8 -148.5 347.8 747.6 68.7 -367.3 231.2 -5.4 -769.1 -315.9 91

 Balance sheet account (end of period)

92 Total assets 29008.9 32848.0 37004.1 34321.3 35248.9 34613.1 34163.0 36693.5 38646.5 39896.0 92

93 Nonfinancial assets (4) 821.2 884.5 943.8 993.9 953.7 954.9 987.3 1017.9 1065.0 1115.0 93

94 Structures (nonresidential) 467.1 503.6 531.2 568.7 543.0 539.3 552.0 556.6 569.3 581.2 94

95 Equipment 299.4 322.5 345.7 350.9 328.8 332.5 347.9 369.8 400.5 435.4 95

96 Intellectual property products 54.8 58.4 66.8 74.3 81.8 83.1 87.4 91.5 95.2 98.4 96

97 Financial assets 28187.6 31963.6 36060.3 33327.4 34295.2 33658.2 33175.7 35675.6 37581.5 38781.0 97

98 Currency and deposits 564.8 626.2 779.3 984.2 1109.3 996.6 909.9 940.2 1009.0 987.0 98

99 Debt securities 6047.0 6671.6 7384.4 8050.2 7363.9 6854.1 7085.1 7719.8 7234.5 7267.1 99

100 Open market paper 1035.3 1239.9 1106.3 1102.3 722.8 640.4 571.5 566.4 575.2 549.4 100

101 Treasury securities 255.3 278.3 408.4 1100.1 964.8 1051.1 1328.2 1440.7 1265.3 1343.1 101

102 Agency- and GSE-backed securities (2) 1888.0 1934.3 2368.2 2966.5 2474.5 1849.6 2033.3 2161.1 1940.2 1803.8 102

103 Municipal securities 861.0 936.7 1050.3 1002.7 1056.2 1032.4 1021.0 1088.3 966.4 997.6 103

104 Corporate and foreign bonds 2007.4 2282.3 2451.2 1878.6 2145.5 2280.6 2131.3 2463.4 2487.4 2573.1 104

105 Loans 11692.6 12958.8 14667.7 14268.7 13537.2 12853.8 12706.3 12773.4 12573.3 12713.0 105

106 Short term 4726.1 5012.6 5935.0 5426.3 4716.0 4447.3 4490.1 4767.7 4555.1 4702.6 106

107 Long term (mortgages) 6966.5 7946.2 8732.6 8842.4 8821.2 8406.5 8216.2 8005.7 8018.3 8010.4 107
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

108 Equity and investment fund shares 8152.0 9553.5 11030.6 8390.6 10467.1 11257.1 10860.1 12393.8 14706.5 15741.9 108

109 Corporate equities 5605.8 6736.6 7555.6 4391.8 6000.4 6967.1 6572.8 7618.0 9941.1 10781.3 109

110 Money market fund shares 366.8 334.4 652.3 905.8 752.1 604.1 520.7 458.3 396.8 410.3 110

111 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.5 111

112 U.S. direct investment abroad 218.8 286.1 363.2 408.4 417.9 445.3 423.5 438.6 446.6 451.5 112

113 Investment in subsidiaries 1960.6 2196.5 2459.6 2684.6 3296.6 3240.6 3343.0 3878.8 3921.7 4098.5 113

114 Insurance, pension and standardized guarantee schemes 0.0 15.2 20.5 19.3 21.4 25.1 27.6 34.9 39.9 45.0 114

115 Other accounts receivable 1731.1 2138.3 2177.9 1614.4 1796.4 1671.5 1586.8 1813.5 2018.2 2027.0 115

116 Total liabilities and net worth 29008.9 32848.0 37004.1 34321.3 35248.9 34613.1 34163.0 36693.5 38646.5 39896.0 116

117 Liabilities 29163.5 33151.1 36959.4 33529.0 34387.9 34119.4 33438.1 35974.0 38696.1 40261.5 117

118 Currency and deposits 19.2 19.0 20.9 15.5 15.9 14.4 12.6 13.7 10.6 9.1 118

119 Debt securities 11917.2 13177.8 14804.2 15178.8 14417.6 13054.7 12617.4 12540.5 12643.6 12809.8 119

120 Agency- and GSE-backed securities (2) 6140.7 6468.9 7374.6 8143.4 8083.3 7581.3 7559.2 7535.4 7773.7 7924.0 120

121 Corporate bonds 4610.4 5346.2 6178.4 5909.6 5656.6 5010.3 4671.0 4643.5 4529.3 4577.4 121

122 Commercial paper 1166.1 1362.7 1251.3 1125.8 677.6 463.0 387.2 361.6 340.5 308.4 122

123 Loans 3450.3 3932.3 4493.6 3918.7 3237.8 3452.0 3693.3 3898.7 3506.2 3383.9 123

124 Short term 3304.9 3780.2 4336.9 3755.2 3062.5 3275.9 3503.7 3704.4 3291.9 3152.5 124

125 Long term (mortgages) 145.5 152.1 156.7 163.5 175.3 176.1 189.5 194.4 214.3 231.4 125

126 Equity and investment fund shares 12343.0 14404.4 15885.0 12787.7 15366.9 16701.4 16473.5 19044.0 22273.9 23879.8 126

127 Money market fund shares 2026.8 2338.5 3085.8 3832.2 3315.9 2803.5 2691.0 2693.2 2717.8 2724.6 127

128 Corporate equity issues 2459.7 2938.9 2786.5 1959.1 2621.0 3282.2 3241.0 3921.5 5116.7 5861.9 128

129 Mutual fund shares 6864.6 8059.7 8914.4 5788.4 7796.7 9029.8 8941.4 10363.5 12333.0 13150.6 129

130 Equity in government-sponsored enterprises (2) 46.7 46.9 56.0 51.8 51.8 49.0 43.1 41.2 41.7 42.9 130

131 Foreign direct investment in the United States 97.1 121.2 140.9 160.3 165.2 214.6 207.8 211.7 215.2 219.7 131

132 Equity in noncorporate business 11.7 9.7 12.6 10.7 14.8 15.9 11.9 17.3 15.9 17.5 132

133 Investment by parent 836.4 889.6 888.9 985.2 1401.5 1306.3 1337.4 1795.6 1833.6 1862.5 133

134 Other accounts payable 1433.9 1617.7 1755.6 1628.4 1349.7 897.0 641.2 477.0 261.9 178.9 134

135 Net worth -154.6 -303.1 44.7 792.2 861.0 493.7 724.9 719.5 -49.6 -365.5 135

(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.
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 Current account

 1 Gross value added 552.7 577.6 605.4 637.6 668.8 704.5 720.9 723.7 715.1 723.9 1

 2 Less: Consumption of fixed capital 189.4 200.7 212.8 226.3 234.5 245.3 257.4 264.3 267.7 270.7 2

 3 Equals: Net value added 363.3 376.9 392.6 411.3 434.3 459.1 463.5 459.4 447.3 453.2 3

 4 Compensation of employees (paid) 362.4 375.1 390.5 410.4 433.5 462.2 470.6 468.3 458.7 462.9 4

 5 Wages and salaries 263.5 271.7 283.3 296.7 312.2 328.5 331.7 327.7 320.4 324.0 5

 6 Employers’ social contributions 98.9 103.5 107.3 113.7 121.3 133.7 138.9 140.7 138.2 138.8 6

 7 Operating surplus, net 0.9 1.8 2.0 0.8 0.7 -3.1 -7.1 -8.9 -11.3 -9.7 7

 8 Net national income/Balance of primary incomes, net -277.4 -293.5 -325.6 -308.9 -269.9 -286.6 -327.3 -321.6 -197.2 -294.6 8

 9 Operating surplus, net 0.9 1.8 2.0 0.8 0.7 -3.1 -7.1 -8.9 -11.3 -9.7 9

10 Taxes on production and imports, receivable 99.4 99.2 94.6 94.0 91.4 96.8 108.6 115.1 125.8 137.8 10

11 Subsidies (paid) -60.5 -51.1 -47.5 -49.6 -56.9 -54.3 -59.5 -57.6 -58.9 -57.4 11

12 Property income (received) 27.2 29.0 33.4 33.9 48.5 54.6 56.4 52.6 163.2 74.8 12

13 Interest 17.3 18.8 22.1 19.5 22.8 29.5 27.7 21.3 22.8 23.4 13

14 Distributed income of corporations (dividends) 0.2 0.3 0.2 0.6 18.7 17.0 18.8 21.1 131.3 40.7 14

15 Rents on land and natural resources 9.7 9.9 11.1 13.8 7.0 8.0 9.9 10.2 9.1 10.6 15

16 Less: Uses of property income (interest paid) 344.4 372.3 408.2 388.0 353.6 380.6 425.7 422.9 416.1 440.1 16

17 Net national income/Balance of primary incomes, net -277.4 -293.5 -325.6 -308.9 -269.9 -286.6 -327.3 -321.6 -197.2 -294.6 17

18 Plus: Current taxes on income, wealth, etc. (received) 1289.9 1464.2 1547.8 1426.7 1079.7 1256.0 1445.2 1546.0 1699.1 1836.5 18

19 Plus: Social benefits (received) 853.4 905.7 947.2 974.4 950.8 970.9 904.0 938.1 1093.4 1145.2 19

20 Less: Social contributions (paid) 1095.6 1201.6 1277.5 1480.0 1632.2 1774.4 1796.9 1801.5 1842.0 1896.8 20

21 Plus: Other current transfers (received) 32.7 37.9 42.0 49.7 67.2 68.1 67.1 56.1 71.1 80.6 21

22 Less: Other current transfers (paid) 384.2 375.8 401.3 416.1 510.7 558.8 530.1 499.3 504.0 547.2 22

23 Equals: Disposable income, net 418.7 536.9 532.7 245.8 -315.1 -324.8 -238.1 -82.2 320.3 323.8 23

24 Less: Final consumption expenditures 723.4 763.9 798.4 879.8 933.7 1003.9 1006.1 1007.8 961.3 955.3 24

25 Equals: Net saving -304.7 -227.0 -265.6 -634.0 -1248.8 -1328.7 -1244.1 -1090.1 -640.9 -631.5 25

 Capital account

26 Net saving less capital transfers -365.1 -270.2 -318.6 -751.6 -1435.1 -1455.0 -1358.0 -1175.0 -699.1 -690.3 26

27 Net saving -304.7 -227.0 -265.6 -634.0 -1248.8 -1328.7 -1244.1 -1090.1 -640.9 -631.5 27

28 Less: Capital transfers paid (net) 60.3 43.2 53.0 117.6 186.3 126.3 113.9 85.0 58.1 58.8 28

29 Capital formation, net 31.5 22.9 35.3 29.1 40.6 53.7 39.1 18.4 -0.8 -8.8 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 222.9 238.0 251.4 275.8 284.0 300.0 297.4 284.7 269.4 264.6 30

31 Less: Consumption of fixed capital 189.4 200.7 212.8 226.3 234.5 245.3 257.4 264.3 267.7 270.7 31

32 Acquisition of nonproduced nonfinancial assets -2.0 -14.4 -3.3 -20.4 -8.9 -1.0 -0.9 -2.0 -2.4 -2.7 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -396.6 -293.2 -353.9 -780.6 -1475.7 -1508.7 -1397.1 -1193.4 -698.3 -681.4 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -396.6 -293.2 -353.9 -780.6 -1475.7 -1508.7 -1397.1 -1193.4 -698.3 -681.4 34

35 Net acquisition of financial assets 30.8 -14.4 0.6 579.8 247.4 279.9 -148.4 118.5 220.0 157.9 35

36 Monetary gold and SDRs -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 0.0 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 -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 0.0 38

39 Currency and deposits 1.3 -5.4 25.8 316.0 -170.2 150.5 -239.9 11.1 65.8 57.2 39

40 Official foreign currencies 0.3 0.4 0.5 0.6 0.3 0.3 -0.2 0.2 0.2 0.1 40

41 Reserve position in IMF (net) -10.2 -3.3 -1.0 3.5 3.4 1.3 18.2 4.0 -3.4 -3.9 41

42 Currency and transferable deposits 12.2 -2.7 25.1 313.1 -174.2 148.9 -257.6 6.7 69.6 60.8 42

43 Time and savings deposits -1.0 0.2 1.2 -1.3 0.3 0.1 -0.3 0.2 -0.5 0.2 43

44 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 44

45 Debt securities 0.0 0.0 0.0 54.4 142.5 -46.9 -118.2 -31.3 -0.1 -0.0 45

46 Agency- and GSE-backed securities 0.0 0.0 0.0 54.4 142.0 -47.2 -118.1 -31.1 0.0 0.0 46

47 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.6 0.3 -0.1 -0.2 -0.1 -0.0 47

48 Loans -3.1 5.9 6.8 39.0 176.3 129.3 139.0 131.6 124.4 115.0 48

49 Short term -5.5 2.2 4.7 25.6 163.7 134.8 135.7 129.9 120.5 113.3 49

50 Consumer credit 3.7 1.6 7.0 19.5 97.5 131.1 131.0 127.5 113.3 110.7 50

51 Other loans and advances -9.2 0.5 -2.3 6.1 66.2 3.6 4.8 2.4 7.2 2.5 51

52 Long term (mortgages) 2.4 3.7 2.1 13.5 12.6 -5.4 3.3 1.6 4.0 1.7 52

53 Equity and investment fund shares 1.3 2.0 1.7 257.7 3.4 30.4 43.4 -14.2 -4.4 0.7 53

54 Corporate equities 0.0 0.0 0.0 256.3 0.6 24.1 40.3 -13.2 -4.8 -1.6 54

55 Equity in international organizations 1.3 2.0 1.7 1.4 1.7 2.3 2.6 2.4 2.2 2.3 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 1.2 4.0 0.5 -3.4 -1.8 0.0 57
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

58 Other accounts receivable 35.8 -17.1 -33.7 -87.4 47.1 16.5 29.1 21.2 34.1 -14.9 58

59 Trade receivables 9.2 -11.6 1.2 4.2 -21.1 -0.7 4.8 2.6 3.3 -5.2 59

60 Taxes receivable 26.0 -6.5 -35.3 -62.2 35.9 27.1 25.6 22.0 27.2 -19.9 60

61 Other (miscellaneous assets) 0.6 1.0 0.4 -29.4 32.3 -9.8 -1.3 -3.5 3.7 10.2 61

62 Net incurrence of liabilities 453.6 296.0 371.5 1369.0 1536.0 1696.7 1201.7 1249.7 880.0 772.5 62

63 SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 63

64 Currency and deposits 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 0.0 -0.4 -0.3 64

65 Debt securities 346.9 219.1 270.4 1302.5 1505.8 1645.9 1138.7 1180.6 857.3 735.9 65

66 Treasury securities 347.3 219.5 270.8 1302.3 1505.7 1645.3 1137.6 1181.0 857.7 736.0 66

67 Federal agency securities -0.4 -0.3 -0.4 0.2 0.1 0.7 1.1 -0.4 -0.4 -0.1 67

68 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 68

69 Insurance, pension and standardized guarantee schemes 67.2 64.5 73.0 45.1 33.2 43.5 40.6 64.0 3.1 33.9 69

70 Insurance reserves 1.1 1.5 1.6 1.0 1.1 0.9 1.3 0.3 0.2 0.8 70

71 Retiree Health Care Funds 23.0 18.1 23.8 26.5 16.6 22.5 18.5 13.3 12.2 10.4 71

72 Claims of pension fund on sponsor 43.1 44.9 47.7 17.6 15.6 20.2 20.8 50.4 -9.3 22.8 72

73 Other accounts payable 38.7 11.8 28.7 22.2 -50.3 7.6 22.4 5.1 20.0 2.9 73

74 SDR certificates 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 0.0 74

75 Trade payables 33.7 6.2 29.3 22.6 -56.2 5.2 8.8 13.4 18.8 -0.1 75

76 Other (miscellaneous liabilities) 5.0 5.6 -0.6 -0.3 2.9 2.4 13.6 -8.3 1.3 3.0 76

 Addendum:

77 Net lending (+) or borrowing (-), financial account (lines 35-62) -422.8 -310.4 -370.8 -789.1 -1288.6 -1416.9 -1350.0 -1131.2 -660.1 -614.6 77

 Other changes in volume account

78 Total other volume changes -47.0 30.2 9.3 86.7 131.1 -31.0 50.8 42.4 22.2 98.0 78

79 Disaster losses -0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 79

80 Other volume changes -20.3 47.4 26.3 95.2 -56.0 -122.8 3.8 -19.8 -16.0 31.2 80

81 Less: Statistical discrepancy (lines 33-77) (2) 26.2 17.2 17.0 8.5 -187.1 -91.8 -47.1 -62.2 -38.2 -66.8 81

 Revaluation account

82 Nonfinancial assets 116.8 116.4 93.0 69.0 -36.0 61.3 69.3 50.0 67.5 58.4 82

83 Structures 94.1 95.2 60.7 44.0 -48.4 18.1 49.4 36.2 49.1 37.1 83

84 Equipment 7.3 10.4 7.6 11.8 8.6 5.0 12.2 2.0 1.9 7.1 84

85 Intellectual property products 15.4 10.8 24.8 13.2 3.8 38.2 7.7 11.9 16.5 14.2 85

86 Financial assets -2.1 0.8 0.7 -67.9 -121.6 -43.7 -32.1 -4.7 0.1 -5.0 86

87 Monetary gold and SDRs -0.9 0.4 0.5 -0.2 0.2 -1.0 -0.1 0.1 0.1 -3.3 87

88 Currency and deposits -1.2 0.3 0.2 -0.0 0.3 -0.2 -0.5 0.0 0.0 -1.7 88

89 Corporate equities 0.0 0.0 0.0 -67.7 -121.9 -41.5 -32.4 -4.7 0.0 0.0 89

90 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 -0.3 -1.0 0.9 -0.0 0.0 0.0 90

91 Liabilities -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 0.1 -3.2 91

92 SDR allocations -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 0.1 -3.2 92

93 Changes in net worth due to nominal holding gains/losses 115.3 116.8 93.3 1.2 -157.9 18.5 37.4 45.3 67.6 56.6 93

 Changes in balance sheet account

94 Change in net worth (lines 29+33+78+93) -296.8 -123.3 -216.0 -663.6 -1461.9 -1467.5 -1269.8 -1087.3 -609.3 -535.6 94

 Balance sheet account (end of period)

95 Total assets 3070.2 3238.1 3415.1 4121.6 4238.8 4577.3 4489.0 4656.9 4923.8 5151.1 95

96 Nonfinancial assets (3) 2426.5 2579.8 2711.3 2829.2 2842.1 2957.5 3066.8 3137.2 3206.4 3258.6 96

97 Structures 1176.5 1266.6 1325.4 1369.8 1326.1 1352.5 1406.9 1439.8 1480.6 1507.9 97

98 Equipment 520.7 550.7 576.7 616.2 649.8 680.9 711.0 726.6 732.7 742.0 98

99 Intellectual property products 729.3 762.4 809.3 843.2 866.2 924.1 948.9 970.8 993.1 1008.7 99

100 Financial assets 643.7 658.3 703.8 1292.4 1396.7 1619.8 1422.2 1519.7 1717.5 1892.5 100

101 Monetary gold and SDRs 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 55.2 51.9 101

102 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102

103 SDR holdings 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 55.2 51.9 103
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104 Currency and deposits 68.0 62.8 88.9 404.8 234.9 385.2 144.8 155.9 221.8 277.2 104

105 Official foreign currencies 18.7 20.2 22.5 23.4 25.0 25.7 25.6 24.7 23.6 20.7 105

106 Reserve position in IMF (net) 8.1 5.2 4.4 7.8 11.5 12.6 30.3 34.4 31.0 25.3 106

107 Currency and transferable deposits 37.0 33.2 56.5 369.4 193.9 342.3 84.6 92.2 163.0 226.8 107

108 Time and savings deposits 1.4 1.7 2.8 1.6 1.9 2.0 1.7 2.0 1.5 1.7 108

109 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 109

110 Debt securities 0.0 0.0 0.0 54.4 197.0 150.1 31.9 0.6 0.6 0.5 110

111 Agency- and GSE-backed securities 0.0 0.0 0.0 54.4 196.4 149.2 31.1 0.0 0.0 0.0 111

112 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.6 0.9 0.8 0.6 0.6 0.5 112

113 Loans 271.2 294.3 301.1 340.1 516.4 649.3 788.4 919.9 1044.3 1159.3 113

114 Short term 194.6 214.0 218.7 244.3 408.0 542.7 678.5 808.4 928.9 1042.1 114

115 Consumer credit 89.8 108.7 115.7 135.2 232.7 363.8 494.8 622.2 735.5 846.2 115

116 Other loans and advances 104.8 105.3 103.1 109.1 175.3 179.0 183.7 186.2 193.4 195.9 116

117 Long term (mortgages) 76.6 80.3 82.4 95.8 108.4 106.6 109.9 111.5 115.5 117.2 117

118 Equity and investment fund shares 43.8 45.8 47.5 237.5 118.7 106.6 118.4 99.5 95.1 95.8 118

119 Corporate equities 0.0 0.0 0.0 188.7 67.4 49.9 57.8 39.9 35.1 33.4 119

120 Equity in international organizations 43.8 45.8 47.5 48.8 50.5 52.8 55.4 57.8 60.0 62.4 120

121 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 121

122 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.9 3.8 5.2 1.8 0.0 0.0 122

123 Other accounts receivable 252.5 246.5 257.0 246.2 271.8 271.7 283.7 288.7 300.5 307.7 123

124 Trade receivables 71.0 59.4 60.6 64.7 43.6 42.9 47.7 50.3 53.6 48.4 124

125 Taxes receivable 91.6 96.1 105.0 119.4 133.9 144.3 152.8 158.6 163.4 165.6 125

126 Other (miscellaneous assets) 89.9 91.0 91.4 62.0 94.3 84.5 83.2 79.8 83.4 93.6 126

127 Total liabilities and net worth 3070.2 3238.1 3415.1 4121.6 4238.8 4577.3 4489.0 4656.9 4923.8 5151.1 127

128 Liabilities 7370.3 7661.5 8054.5 9424.6 11003.7 12809.7 13991.3 15246.5 16122.7 16885.6 128

129 SDR allocations 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 54.4 51.2 129

130 Currency and deposits 27.5 28.1 27.4 26.6 26.2 25.9 25.9 25.9 25.6 25.3 130

131 Debt securities 5584.8 5803.9 6074.3 7376.8 8882.6 10528.6 11667.3 12847.8 13705.1 14441.1 131

132 Treasury securities 5560.9 5780.4 6051.2 7353.5 8859.2 10504.4 11642.0 12822.9 13680.6 14416.7 132

133 Federal agency securities 23.8 23.5 23.1 23.3 23.5 24.2 25.3 24.9 24.5 24.4 133

134 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 134

135 Insurance, pension and standardized guarantee schemes 1540.9 1606.0 1699.9 1746.4 1825.8 1982.4 2017.0 2078.6 2079.5 2110.6 135

136 Insurance reserves 42.7 44.2 45.8 46.7 47.8 48.7 50.0 50.3 50.5 51.3 136

137 Retiree Health Care Funds 75.4 93.5 137.3 163.8 180.4 202.9 221.4 234.8 246.9 257.3 137

138 Claims of pension fund on sponsor 1422.8 1468.3 1516.8 1535.8 1597.6 1730.8 1745.6 1793.6 1782.1 1802.0 138

139 Other accounts payable 210.2 216.1 245.2 267.2 213.7 218.5 226.9 239.8 258.1 257.5 139

140 SDR certificates 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 5.2 140

141 Trade payables 202.6 208.8 238.2 260.7 204.5 209.7 218.5 231.9 250.6 250.5 141

142 Other (miscellaneous liabilities) 5.4 5.1 4.9 4.3 4.0 3.6 3.2 2.8 2.3 1.8 142

143 Net worth -4300.1 -4423.4 -4639.4 -5303.0 -6764.9 -8232.5 -9502.3 -10589.6 -11198.9 -11734.5 143

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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 Current account

 1 Gross value added 1191.7 1250.3 1318.5 1385.2 1419.4 1454.2 1471.4 1496.5 1533.6 1574.5 1

 2 Less: Consumption of fixed capital 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.9 238.5 246.1 2

 3 Equals: Net value added 1034.4 1080.0 1131.9 1185.0 1211.3 1241.5 1249.2 1264.6 1295.1 1328.4 3

 4 Compensation of employees (paid) 1041.8 1091.1 1150.4 1207.1 1232.6 1261.3 1266.5 1275.0 1302.6 1337.0 4

 5 Wages and salaries 728.0 763.3 805.6 847.4 862.9 862.6 863.1 870.6 887.2 913.2 5

 6 Employers’ social contributions 313.7 327.8 344.9 359.7 369.7 398.7 403.5 404.4 415.4 423.8 6

 7 Operating surplus, net -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -17.4 -10.4 -7.5 -8.6 7

 8 Net national income/Balance of primary incomes, net 804.2 868.3 910.7 901.6 811.0 829.5 864.6 880.3 918.4 961.2 8

 9 Operating surplus, net -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -17.4 -10.4 -7.5 -8.6 9

10 Taxes on production and imports, receivable 835.1 892.7 940.0 947.9 934.8 960.4 994.0 1016.9 1052.2 1075.9 10

11 Subsidies (paid) -0.4 -0.4 -7.1 -3.0 -1.4 -1.6 -0.5 -0.5 -0.5 -0.5 11

12 Property income (received) 88.6 107.2 117.9 105.7 87.8 82.6 79.2 75.4 74.3 75.7 12

13 Interest 76.8 94.7 104.2 91.0 74.4 69.1 64.8 59.8 58.0 58.7 13

14 Distributed income of corporations (dividends) 2.0 2.1 2.2 2.6 2.1 2.3 2.6 3.3 3.7 3.8 14

15 Rents on land and natural resources 9.8 10.4 11.5 12.1 11.2 11.2 11.7 12.3 12.6 13.2 15

16 Less: Uses of property income (interest paid) 111.8 120.1 121.5 127.0 188.8 192.1 190.7 201.2 200.1 181.4 16

17 Net national income/Balance of primary incomes, net 804.2 868.3 910.7 901.6 811.0 829.5 864.6 880.3 918.4 961.2 17

18 Plus: Current taxes on income, wealth, etc. (received) 331.4 361.7 381.4 381.0 333.4 345.3 374.3 399.2 427.6 441.6 18

19 Plus: Social benefits (received) 24.6 21.5 18.9 18.7 18.6 18.1 18.2 18.0 18.6 18.9 19

20 Less: Social contributions (paid) 406.6 403.9 433.3 455.4 492.6 523.8 530.4 540.0 562.3 609.9 20

21 Plus: Other current transfers (received) 436.4 438.9 460.9 477.8 566.1 612.0 582.1 558.0 571.2 621.5 21

22 Less: Other current transfers (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Equals: Disposable income, net 1190.0 1286.5 1338.6 1323.7 1236.4 1281.0 1308.9 1315.5 1373.6 1433.3 23

24 Less: Final consumption expenditures 1256.6 1325.9 1411.4 1488.7 1508.4 1518.3 1524.8 1536.3 1560.7 1601.0 24

25 Equals: Net saving -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -220.8 -187.1 -167.7 25

 Capital account

26 Net saving less capital transfers -16.2 18.4 -13.4 -101.8 -204.2 -160.6 -142.1 -146.6 -115.7 -96.7 26

27 Net saving -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -220.8 -187.1 -167.7 27

28 Less: Capital transfers paid (net) -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.8 -74.2 -71.4 -71.0 28

29 Capital formation, net 143.5 155.0 167.9 172.5 167.2 149.7 127.6 107.0 94.0 95.1 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 290.8 314.3 340.8 358.8 363.0 351.9 340.5 329.7 322.9 331.3 30

31 Less: Consumption of fixed capital 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.9 238.5 246.1 31

32 Acquisition of nonproduced nonfinancial assets 10.0 11.0 13.6 13.8 12.3 10.6 9.2 9.1 9.6 9.9 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -253.6 -209.7 -191.8 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -253.6 -209.7 -191.8 34

35 Net acquisition of financial assets 251.6 209.9 240.1 -109.4 30.1 80.0 -29.0 64.9 -13.2 86.9 35

36 Currency and deposits 19.3 22.8 33.0 26.4 29.7 -0.3 32.6 13.0 25.3 23.2 36

37 Currency and transferable deposits 15.8 5.5 -0.2 8.4 19.3 5.7 16.8 -8.8 7.1 15.8 37

38 Time and savings deposits 3.4 17.3 33.2 18.0 10.4 -6.0 15.8 21.7 18.2 7.4 38

39 Debt securities 153.9 112.6 136.4 -95.9 -33.2 57.1 -62.3 17.0 -57.8 19.7 39

40 Open market paper -0.4 -1.0 -2.2 -22.5 -38.1 13.4 -12.1 -7.8 -9.4 -7.1 40

41 Treasury securities 106.8 59.1 77.7 -47.7 -14.4 8.9 -34.4 42.8 -17.8 36.5 41

42 Agency- and GSE-backed securities (1) 34.9 40.1 44.8 -20.0 13.6 25.1 -13.9 -20.4 -29.6 -14.7 42

43 Municipal securities 1.2 1.4 1.7 0.4 1.1 1.4 0.2 0.2 -0.1 0.4 43

44 Corporate and foreign bonds 11.3 13.0 14.5 -6.2 4.6 8.2 -2.2 2.1 -1.0 4.6 44

45 Loans 19.8 22.6 25.2 -17.4 6.7 13.3 -4.8 8.4 1.4 12.2 45

46 Short term 5.5 6.0 6.3 -12.5 -3.2 -0.8 -4.7 3.8 1.5 5.9 46

47 Long term (mortgages) 14.3 16.5 18.9 -4.9 10.0 14.1 -0.1 4.6 -0.1 6.4 47

48 Equity and investment fund shares 21.1 24.3 27.5 -6.8 11.3 17.8 -1.4 6.0 0.5 10.5 48

49 Money market fund shares 13.4 15.6 18.0 2.2 10.9 14.6 2.1 4.3 1.3 6.8 49

50 Corporate equities 4.3 4.8 5.0 -8.2 -1.6 0.2 -3.4 1.1 -0.5 2.5 50

51 Mutual fund shares 3.4 4.0 4.5 -0.8 2.0 3.0 -0.2 0.6 -0.3 1.3 51

52 Other accounts receivable 37.5 27.6 18.0 -15.7 15.6 -7.9 6.9 20.6 17.5 21.3 52

53 Trade receivables 17.4 8.9 7.8 -15.4 -4.6 13.1 5.6 5.3 9.5 10.0 53

54 Taxes receivable 14.3 12.1 3.0 5.2 -5.8 1.0 2.4 9.5 4.1 3.7 54

55 Other (miscellaneous assets) 5.8 6.6 7.3 -5.6 26.0 -22.0 -1.1 5.7 3.9 7.6 55
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56 Net incurrence of liabilities 246.4 237.8 326.7 241.9 465.7 357.1 302.0 345.0 243.5 262.2 56

57 Debt securities (municipals) 141.1 100.3 146.0 17.1 112.2 68.7 -53.6 -5.7 -39.4 -14.0 57

58 Short term -1.7 -8.2 16.8 4.6 7.8 -0.7 -10.6 3.8 -10.9 -6.7 58

59 Other 142.8 108.5 129.2 12.5 104.4 69.3 -42.9 -9.4 -28.6 -7.4 59

60 Loans (short term) 0.6 0.6 0.7 0.8 0.8 0.9 0.9 0.4 0.5 0.4 60

61 Insurance, pension and standardized guarantee schemes 72.8 102.6 143.3 185.3 313.8 249.1 316.3 312.2 244.4 237.1 61

 (Claim of pension funds on sponsor)

62 Other accounts payable (trade payables) 31.9 34.3 36.7 38.6 38.9 38.5 38.4 38.1 38.0 38.8 62

 Addendum:

63 Net lending (+) or borrowing (-), financial account (lines 35-56) 5.2 -27.9 -86.6 -351.3 -435.6 -277.2 -331.0 -280.1 -256.7 -175.3 63

 Other changes in volume account

64 Total other volume changes 185.0 277.4 207.6 -946.7 334.8 44.8 -66.5 249.3 577.1 277.0 64

65 Disaster losses -10.7 0.0 0.0 0.0 0.0 0.0 0.0 -7.6 0.0 0.0 65

66 Other volume changes 30.9 168.7 113.0 -869.7 399.0 11.7 -5.1 283.4 624.1 260.4 66

67 Less: Statistical discrepancy (lines 33-63) (2) -164.9 -108.7 -94.6 77.0 64.3 -33.1 61.4 26.5 47.0 -16.5 67

 Revaluation account

68 Nonfinancial assets 473.4 605.0 460.9 411.4 -105.1 175.7 392.7 225.9 249.7 176.2 68

69 Structures 472.2 602.7 457.9 403.0 -104.3 171.9 389.2 222.6 246.0 171.7 69

70 Equipment 0.4 1.1 0.6 6.6 -1.1 2.4 1.6 1.9 1.8 3.0 70

71 Intellectual property products 0.8 1.1 2.4 1.8 0.3 1.4 1.9 1.4 1.9 1.5 71

72 Equity and investment fund shares 5.4 16.8 5.2 -61.0 33.5 21.6 1.9 18.4 37.4 13.6 72

73 Changes in net worth due to nominal holding gains/losses 478.9 621.8 466.0 350.5 -71.7 197.4 394.6 244.3 287.0 189.7 73

 Changes in balance sheet account

74 Change in net worth (lines 29+33+64+73) 647.7 917.6 660.2 -698.1 58.9 81.6 186.0 347.0 748.4 370.0 74

 Balance sheet account (end of period)

75 Total assets 8575.2 9551.0 10411.0 10809.3 10918.9 11331.7 11813.2 12221.7 12577.3 12948.2 75

76 Nonfinancial assets (3) 6259.0 7008.0 7623.1 8193.3 8243.0 8557.5 9068.6 9384.7 9718.9 9980.2 76

77 Structures 5976.8 6715.1 7314.8 7863.3 7903.6 8207.7 8711.9 9022.9 9350.3 9603.7 77

78 Equipment 206.9 212.7 221.5 236.4 240.9 245.4 246.5 246.7 248.4 252.1 78

79 Intellectual property products 75.3 80.2 86.9 93.6 98.5 104.4 110.2 115.2 120.1 124.4 79

80 Financial assets 2316.2 2543.0 2787.8 2616.0 2675.9 2774.2 2744.6 2837.0 2858.4 2968.0 80

81 Currency and deposits 236.4 259.2 292.2 318.5 348.2 348.0 380.5 412.6 437.9 461.0 81

82 Currency and transferable deposits 66.2 71.7 71.5 79.9 99.2 104.9 121.6 118.2 125.3 141.1 82

83 Time and savings deposits 170.2 187.5 220.7 238.7 249.1 243.1 258.9 294.4 312.6 319.9 83

84 Debt securities 1215.8 1328.4 1464.9 1369.0 1335.8 1392.8 1330.5 1347.5 1289.6 1309.3 84

85 Open market paper 153.1 152.1 149.8 127.3 89.2 102.6 90.5 82.7 73.3 66.2 85

86 Treasury securities 511.8 570.9 648.6 600.9 586.5 595.5 561.1 603.9 586.1 622.6 86

87 Agency- and GSE-backed securities (1) 412.7 452.9 497.7 477.7 491.4 516.4 502.6 482.2 452.6 437.9 87

88 Municipal securities 6.9 8.4 10.0 10.4 11.5 12.9 13.1 13.3 13.2 13.6 88

89 Corporate and foreign bonds 131.3 144.2 158.7 152.6 157.2 165.4 163.2 165.3 164.4 169.0 89

90 Loans 288.4 311.0 335.8 316.6 319.9 330.1 323.2 329.7 330.0 341.6 90

91 Short term 129.8 135.8 142.1 129.6 126.4 125.6 120.9 124.7 126.2 132.1 91

92 Long term (mortgages) 158.7 175.2 193.7 187.0 193.5 204.6 202.3 204.9 203.7 209.5 92

93 Equity and investment fund shares 246.4 287.5 320.2 252.5 297.2 336.6 337.0 361.4 399.3 423.4 93

94 Money market fund shares 89.7 105.4 123.3 125.6 136.4 151.0 153.1 157.4 158.7 165.5 94

95 Corporate equities 116.0 133.0 141.8 90.7 112.1 126.9 124.8 138.1 162.2 173.6 95

96 Mutual fund shares 40.7 49.2 55.0 36.2 48.6 58.7 59.1 66.0 78.4 84.3 96

97 Other accounts receivable 329.2 356.8 374.8 359.4 374.9 366.7 373.4 385.9 401.7 432.7 97

98 Trade receivables 142.5 151.3 159.1 143.7 139.1 152.2 157.8 163.1 172.6 182.7 98

99 Taxes receivable 102.3 114.4 117.4 123.0 117.1 117.8 120.0 121.3 123.8 137.2 99

100 Other (miscellaneous assets) 84.4 91.1 98.3 92.7 118.7 96.7 95.7 101.4 105.3 112.8 100

101 Total liabilities and net worth 8575.2 9551.0 10411.0 10809.3 10918.9 11331.7 11813.2 12221.7 12577.3 12948.2 101

102 Liabilities 3425.5 3483.7 3683.4 4779.8 4830.6 5161.8 5457.3 5518.7 5125.9 5126.8 102
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103 Debt securities (municipals) 2579.2 2679.6 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 2924.9 2910.9 103

104 Short term 42.5 34.3 51.2 55.8 63.6 63.0 52.3 56.1 45.3 38.6 104

105 Other 2536.7 2645.2 2774.4 2786.9 2891.3 2960.6 2917.6 2908.2 2879.6 2872.3 105

106 Loans (short term) 10.6 11.2 11.9 12.7 13.5 14.4 15.3 15.7 16.2 16.6 106

107 Insurance, pension and standardized guarantee schemes 353.6 276.6 292.9 1332.8 1231.6 1454.8 1764.6 1793.3 1401.4 1377.2 107

 (Claim of pension funds on sponsor)

108 Other accounts payable (trade payables) 482.0 516.2 553.0 591.6 630.5 669.0 707.4 745.5 783.4 822.2 108

109 Net worth 5149.7 6067.3 6727.6 6029.5 6088.4 6170.0 6356.0 6703.0 7451.4 7821.4 109

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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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

 Current account

 1 Foreign income from U.S. 2692.0 3078.5 3334.4 3482.0 2712.0 3115.5 3485.8 3582.1 3616.9 3742.5 1

 2 U.S. imports of goods and services 2030.1 2247.3 2383.2 2565.0 1983.2 2365.0 2686.4 2763.8 2771.7 2871.9 2

 3 U.S. income payments to rest of world 483.2 656.6 750.1 684.9 497.8 514.1 546.0 563.9 575.8 591.2 3

 4 Current taxes and trans. payments to rest of world 178.7 174.6 201.2 232.0 231.0 236.4 253.4 254.3 269.5 279.4 4

 5 Less: Foreign outlays to U.S. 1954.3 2276.3 2616.3 2790.3 2330.1 2669.6 3004.2 3113.9 3221.2 3341.3 5

 6 U.S. exports of goods and services 1308.9 1476.3 1664.6 1841.9 1587.7 1852.3 2106.4 2198.2 2263.3 2341.9 6

 7 U.S. income receipts from rest of world 575.8 724.2 875.7 856.9 648.9 720.0 792.6 801.5 826.2 854.3 7

 8 Current taxes and trans. receipts from rest of world (1) 69.6 75.7 76.0 91.5 93.4 97.2 105.2 114.2 131.7 145.1 8

 9 Equals: Net saving (current external balance) 737.7 802.2 718.1 691.6 381.9 445.9 481.5 468.2 395.8 401.1 9

 Capital account

10 Net saving 737.7 802.2 718.1 691.6 381.9 445.9 481.5 468.2 395.8 401.1 10

11 Less: Net capital transfers 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 6.5 -0.8 -0.4 11

12 Less: Acquisition of nonproduced nonfinancial assets 0.1 -0.1 0.5 -0.0 0.0 -0.0 -0.0 -0.1 0.0 -0.0 12

13 Net lending (+) or borrowing (-), capital account (lines 10-11-12) 724.8 804.2 718.0 686.2 382.5 446.6 483.2 461.7 396.6 401.6 13

 Financial account

14 Net lending (+) or borrowing (-) (line 13) 724.8 804.2 718.0 686.2 382.5 446.6 483.2 461.7 396.6 401.6 14

15 Net acquisition of U.S. financial assets 1048.2 1479.7 1470.6 666.8 201.0 1087.5 1049.7 851.2 1155.8 1119.5 15

16 Monetary gold and SDRs 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 16

17 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 SDR allocations 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 0.0 18

19 Currency and deposits 24.8 50.7 -78.3 492.9 -284.3 -27.5 343.1 -29.9 415.5 168.0 19

20 Currency 8.4 2.2 -10.7 29.2 12.6 28.3 55.0 57.1 37.7 66.3 20

21 Transferable deposits 6.4 9.2 5.2 34.8 -21.8 1.2 26.8 11.0 13.2 16.5 21

22 Time deposits 20.6 34.0 36.7 73.4 -73.3 4.9 47.3 38.0 52.5 54.2 22

23 Net interbank items due from U.S. banks -10.6 5.3 -109.5 355.4 -201.9 -61.8 213.9 -136.0 312.2 30.9 23

24 Debt securities 737.2 968.7 856.6 404.7 160.4 639.4 203.6 495.7 547.7 534.3 24

25 Open market paper 20.8 54.9 16.5 -59.0 -48.4 -10.7 0.7 -0.1 -1.7 7.6 25

26 Treasury securities 245.1 150.3 165.3 711.6 554.4 740.4 355.3 589.7 424.9 317.4 26

27 Agency- and GSE-backed securities (2) 139.8 217.1 239.5 -231.9 -226.0 -66.6 -41.6 -73.6 -83.7 -5.2 27

28 Municipal securities 3.0 5.4 10.7 5.9 7.7 13.1 0.6 -0.6 4.3 4.3 28

29 Corporate bonds 328.5 541.0 424.6 -21.8 -127.3 -36.8 -111.5 -19.7 203.9 210.1 29

30 Loans (short term) 72.7 66.0 174.9 -674.3 -98.7 72.2 126.5 -59.1 31.1 136.3 30

31 Security repurchases 41.4 59.7 72.6 -629.7 -54.8 92.4 92.6 -6.9 35.3 105.4 31

32 Loans to U.S. corporate business 31.3 6.2 102.3 -44.7 -44.0 -20.2 33.9 -52.2 -4.2 30.9 32

33 Equity and investment fund shares 201.9 388.6 496.8 436.9 369.7 384.8 359.4 432.9 149.1 266.7 33

34 Money market fund shares 0.1 4.1 19.0 23.7 7.2 -7.1 4.6 22.6 11.3 5.1 34

35 Corporate equities 83.1 119.5 244.3 128.3 194.3 130.9 48.1 137.0 -62.4 117.3 35

36 Mutual fund shares 6.0 21.9 12.3 -25.2 17.8 55.2 70.7 79.5 -16.4 32.7 36

37 Foreign direct investment in the United States 112.6 243.2 221.2 310.1 150.4 205.9 236.1 193.8 216.6 111.6 37

38 Other accounts receivable 11.6 5.7 20.6 6.7 6.3 18.6 17.1 11.6 12.3 14.3 38

39 Net incurrence of liabilities 349.7 949.8 1319.0 -98.4 173.0 819.3 633.0 388.3 782.4 804.4 39

40 SDR holdings -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 0.0 40

41 Currency and deposits 12.3 177.9 294.5 -326.3 -39.8 73.4 -197.3 -143.0 23.6 -117.9 41

42 Official foreign currencies 0.6 0.7 1.0 1.3 0.7 0.5 -0.5 0.4 0.3 0.2 42

43 Reserve position in IMF (net) -10.2 -3.3 -1.0 3.5 3.4 1.3 18.1 4.0 -3.4 -3.8 43

44 U.S. private deposits 21.9 180.5 294.5 -331.0 -43.9 71.6 -215.0 -147.5 26.7 -114.3 44

45 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 45

46 Debt securities 93.4 277.2 234.8 -211.9 236.6 124.7 128.2 159.0 202.8 108.8 46

47 Commercial paper 38.6 98.4 -69.3 -71.0 59.4 -2.7 -53.5 27.9 34.0 -21.4 47

48 Bonds 54.8 178.9 304.1 -140.8 177.2 127.4 181.7 131.2 168.9 130.2 48

49 Loans (short term) 3.4 65.4 173.3 160.5 -471.8 222.0 240.7 -14.8 -52.1 59.0 49

50 Security repurchases -7.1 55.9 123.2 -382.8 86.0 207.9 96.4 40.2 -84.0 26.4 50

51 Other loans and advances -6.8 -7.4 -3.3 -1.5 0.5 0.3 1.4 5.6 1.4 2.8 51

52 Depository institution loans n.e.c. 17.3 16.9 29.4 15.1 -14.8 24.0 43.2 30.4 39.1 28.6 52

53 Nonoff. foreign currencies (swap lines) 0.0 0.0 24.0 529.7 -543.5 -10.2 99.7 -90.9 -8.6 1.3 53
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54 Equity and investment fund shares 243.8 425.6 605.7 282.8 399.3 393.1 459.2 386.3 598.3 761.2 54

55 Corporate equities 186.7 137.3 147.8 -38.6 63.7 79.2 7.0 95.8 284.3 436.5 55

56 U.S. government equity in IBRD, etc. 1.3 2.0 1.7 1.4 1.7 2.3 2.6 2.4 2.2 2.3 56

57 U.S. direct investment abroad 36.2 244.9 414.0 329.1 310.4 301.1 419.1 339.7 328.6 336.9 57

58 Investment by holding companies 19.6 41.3 42.2 -9.1 23.5 10.6 30.6 -51.5 -16.9 -14.6 58

59 Other accounts payable 1.3 3.5 10.7 -3.7 0.5 6.0 4.0 0.7 9.8 -6.8 59

 Addendum:

60 Net lending (+) or borrowing (-), financial account (lines 15-39) 698.5 529.8 151.5 765.2 28.0 268.2 416.7 462.8 373.4 315.1 60

 Other changes in volume account

61 Total other volume changes -29.8 -143.4 -538.0 69.8 -339.9 -179.9 -70.6 -4.6 -19.1 -86.5 61

62 Other volume changes -3.4 131.0 28.5 -9.2 14.5 -1.5 -4.2 -5.7 4.1 0.0 62

63 Less: Statistical discrepancy (lines 13-60) (3) 26.3 274.4 566.5 -79.0 354.4 178.4 66.5 -1.2 23.2 86.5 63

 Revaluation account

64 Financial assets -65.7 384.4 298.2 -1633.9 480.9 604.3 167.2 598.5 1026.0 727.9 64

65 Monetary gold and SDRs -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 0.1 -3.2 65

66 Currency and deposits -0.3 -0.0 5.1 0.0 0.0 4.2 0.1 -0.2 -0.7 -0.3 66

67 Debt securities -206.6 36.6 157.6 -148.8 64.0 132.3 293.5 120.5 -324.4 24.4 67

68 Open market paper -1.7 1.6 -3.6 -1.8 0.1 -4.3 -0.2 0.2 0.3 -1.0 68

69 Treasury securities -74.3 -8.5 85.0 164.9 -136.8 47.9 190.3 -22.6 -202.6 45.0 69

70 Agency- and GSE-backed securities 4.7 35.0 79.1 57.3 -26.2 12.4 23.9 -3.4 -33.8 24.0 70

71 Corporate bonds -135.3 8.5 -2.9 -369.3 226.9 76.3 79.4 146.3 -88.3 -43.5 71

72 Equity and investment fund shares 142.1 347.3 134.8 -1484.6 416.3 468.7 -126.1 478.2 1347.0 707.2 72

73 Corporate equities 82.4 321.1 151.3 -1152.5 533.3 425.1 -59.7 418.8 1313.8 622.5 73

74 Mutual fund shares 9.0 21.3 12.9 -73.6 32.7 24.0 -5.4 45.6 73.0 23.0 74

75 Foreign direct investment in the United States 50.6 4.9 -29.3 -258.6 -149.6 19.6 -61.0 13.8 -39.7 61.7 75

76 Other accounts receivable -0.3 0.2 0.3 -0.3 0.3 0.1 -0.1 0.0 3.9 -0.2 76

77 Liabilities 642.4 949.7 1059.8 -2788.6 1381.3 797.1 -709.0 949.5 737.4 -284.1 77

78 SDR holdings -0.9 0.4 0.5 -0.2 0.2 -1.0 -0.1 0.1 0.1 -3.3 78

79 Currency and deposits -5.3 2.9 -0.4 0.2 -0.0 -25.2 -22.7 -1.8 -3.9 -17.0 79

80 Official foreign currencies -5.5 2.3 3.8 2.5 0.3 1.1 0.3 -2.3 -2.6 -5.9 80

81 Reserve position in IMF (net) -1.2 0.3 0.2 -0.0 0.3 -0.2 -0.5 0.0 0.0 -1.7 81

82 U.S. private deposits 1.4 0.2 -4.4 -2.3 -0.7 -26.1 -22.5 0.4 -1.3 -9.4 82

83 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 83

84 Debt securities (corporate bonds) -38.6 20.6 97.3 -193.7 179.3 102.5 54.2 148.4 -119.1 27.1 84

85 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 85

86 Equity and investment fund shares 687.6 925.5 962.1 -2594.7 1201.6 720.9 -740.4 803.0 860.4 -290.5 86

87 Corporate equities 570.6 873.9 771.2 -2461.0 1183.2 825.8 -647.3 724.7 866.7 -189.7 87

88 U.S. direct investment abroad 117.0 51.5 190.9 -133.7 18.5 -104.9 -93.1 78.3 -6.3 -100.7 88

89 Other accounts payable -0.4 0.3 0.3 -0.3 0.1 -0.0 0.0 -0.1 -0.1 -0.4 89

90 Changes in net worth due to nominal holding gains/losses -708.1 -565.2 -761.7 1154.7 -900.5 -192.9 876.2 -351.0 288.6 1012.0 90

 Changes in balance sheet account

91 Change in net worth (lines 13+61+90) -13.0 95.6 -581.7 1910.8 -857.9 73.9 1288.7 106.1 666.1 1327.1 91

 Financial balance sheet account (end of period) (4)

92 Total financial assets 10678.1 12803.2 14571.9 13699.4 14362.3 16054.1 17513.0 18962.6 21136.5 22983.9 92

93 SDR allocations 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 54.4 51.2 93

94 Currency and deposits 560.1 610.7 537.5 1030.4 746.1 722.8 1066.0 1035.9 1450.7 1618.4 94

95 Currency 280.4 282.6 272.0 301.1 313.8 342.1 397.1 454.2 491.9 558.2 95

96 Transferable deposits 19.7 28.9 34.2 69.0 47.2 48.4 75.2 86.2 99.4 115.9 96

97 Time deposits 223.2 257.2 298.9 372.4 299.2 308.2 355.6 393.4 445.1 499.1 97

98 Net interbank items due from U.S. banks 36.7 42.0 -67.5 287.9 86.0 24.2 238.1 102.1 414.2 445.2 98
Inte

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S.9.a Rest of the World 

Billions of dollars

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

 

99 Debt securities 4980.2 5985.4 6999.6 7255.5 7479.9 8251.6 8748.7 9364.8 9588.1 10146.9 99

100 Open market paper 156.8 213.3 226.3 165.5 117.2 102.1 102.7 102.8 101.3 107.9 100

101 Treasury securities 1984.4 2126.2 2376.4 3253.0 3670.6 4458.8 5004.4 5571.5 5793.8 6156.2 101

102 Agency- and GSE-backed securities (2) 1006.1 1258.2 1576.8 1402.2 1150.0 1095.8 1078.2 1001.2 883.8 902.6 102

103 Municipal securities 29.0 34.4 45.1 51.0 58.7 71.7 72.4 71.8 76.1 80.4 103

104 Corporate bonds 1803.8 2353.3 2775.0 2383.9 2483.5 2523.1 2491.0 2617.6 2733.1 2899.7 104

105 Loans (short term) 867.6 1194.5 1369.5 789.6 671.9 744.0 874.6 815.5 846.6 982.9 105

106 Security repurchases 705.0 1025.8 1098.4 563.2 489.4 581.8 678.5 671.6 706.9 812.3 106

107 Loans to U.S. corporate business 162.5 168.8 271.1 226.4 182.5 162.3 196.1 143.9 139.7 170.6 107

108 Equity and investment fund shares 4210.0 4946.0 5577.6 4529.8 5315.9 6169.4 6640.6 7551.7 9047.8 10021.7 108

109 Money market fund shares 23.0 27.0 46.0 69.7 76.9 69.8 74.4 96.9 108.2 113.2 109

110 Corporate equities 2117.8 2558.4 2954.0 1929.9 2657.4 3213.5 3397.2 3953.0 5204.4 5944.2 110

111 Mutual fund shares 163.3 206.5 231.7 132.9 183.4 262.5 370.4 495.4 552.0 607.8 111

112 Foreign direct investment in the United States 1906.0 2154.1 2345.9 2397.4 2398.2 2623.6 2798.7 3006.3 3183.2 3356.5 112

113 Other accounts receivable 53.3 59.2 80.0 86.5 93.1 111.8 128.8 140.5 148.8 162.9 113

114 Total liabilities and net worth 10678.1 12803.2 14571.9 13699.4 14362.3 16054.1 17513.0 18962.6 21136.5 22983.9 114

115 Total liabilities 9027.4 11056.9 13407.3 10624.0 12144.8 13762.7 13932.9 15276.4 16784.2 17304.5 115

116 SDR holdings 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 55.2 51.9 116

117 Currency and deposits 1213.8 1394.5 1688.6 1362.5 1322.7 1370.8 1150.8 1005.9 1025.6 890.6 117

118 Official foreign currencies 37.6 40.7 45.5 49.3 50.2 51.8 51.6 49.7 47.4 41.8 118

119 Reserve position in IMF (net) 8.0 5.0 4.2 7.7 11.4 12.5 30.1 34.2 30.8 25.2 119

120 U.S. private deposits 1165.5 1346.1 1636.2 1302.9 1258.4 1303.9 1066.4 919.4 944.8 821.1 120

121 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 121

122 Debt securities 1208.8 1506.6 1838.7 1433.2 1849.1 2076.3 2258.7 2566.1 2649.9 2785.8 122

123 Commercial paper 384.0 482.3 413.0 342.0 401.3 398.6 345.1 373.0 407.0 385.6 123

124 Bonds 824.8 1024.3 1425.7 1091.2 1447.8 1677.6 1913.6 2193.1 2242.9 2400.2 124

125 Loans (short term) 522.8 718.2 863.0 1127.2 621.9 845.4 1090.7 1081.7 1029.5 1088.6 125

126 Security repurchases 381.0 566.9 681.1 402.3 454.8 663.7 764.7 804.9 720.9 747.3 126

127 Other loans and advances 31.4 23.9 20.7 18.9 19.3 19.6 21.0 30.2 31.6 34.5 127

128 Depository institution loans n.e.c. 110.4 127.4 137.3 152.4 137.5 162.0 205.2 237.7 276.7 305.3 128

129 Nonoff. foreign currencies (swap lines) 0.0 0.0 24.0 553.7 10.3 0.1 99.8 8.9 0.3 1.5 129

130 Equity and investment fund shares 6040.4 7391.4 8959.2 6647.3 8248.2 9362.3 9322.6 10511.9 11970.6 12441.4 130

131 Corporate equities 3317.7 4329.0 5248.0 2748.4 3995.3 4900.2 4501.4 5321.9 6472.9 6719.7 131

132 U.S. government equity in IBRD, etc. 43.8 45.8 47.5 48.8 50.5 52.8 55.4 57.8 60.0 62.4 132

133 U.S. direct investment abroad 2651.7 2948.2 3553.1 3748.5 4077.4 4273.6 4599.5 5017.5 5339.8 5576.0 133

134 Investment by holding companies 27.1 68.4 110.6 101.5 125.1 135.6 166.3 114.7 97.9 83.3 134

135 Other accounts payable 33.6 37.4 48.4 44.4 45.1 51.1 55.1 55.7 53.4 46.2 135

136 Net worth (external account) 1650.7 1746.3 1164.7 3075.4 2217.5 2291.3 3580.1 3686.2 4352.3 5679.4 136

(1) Prior to 1999, current taxes, contributions for government social insurance, and transfer receipts from the rest of the world (line 8) are not separately displayed, and line 4 includes

 current taxes and transfer payments to the rest of the world net of current taxes, contributions for government social insurance, and transfer receipts from the rest of the world.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 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 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