F EDERAL RESERVE S TATISTICAL RELEASE

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

June 6, 2013

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

Historical Annual Tables

1945–1954

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

i

Title Table Page

Summaries

Total Credit Market Borrowing and Lending F.1 1

Credit Market Borrowing by Nonfinancial Sectors F.2 2

Credit Market Borrowing by Financial Sectors F.3 2

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

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

Credit Market Debt Outstanding L.1 4

Credit Market Debt Owed by Nonfinancial Sectors L.2 5

Credit Market Debt Owed by Financial Sectors L.3 5

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

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

Distribution of Gross Domestic Product F.6 7

Distribution of National Income F.7 8

Saving and Investment F.8 9

Net Capital Transfers F.9 10

Derivation of Measures of Personal Saving F.10 11

Assets and Liabilities of the Personal Sector L.10 12

Title

Flows Levels

Table Page Table Page

Sectors

Households and Nonprofit Organizations F.100 13 L.100 59

Nonfinancial Business F.101 14 L.101 60

Nonfinancial Corporate Business F.102 15 L.102 61

Nonfinancial Noncorporate Business F.103 16 L.103 62

State and Local Governments F.104 17 L.104 63

Federal Government F.105 18 L.105 64

Rest of the World F.106 19 L.106 65

Financial Business F.107 20 L.107 66

Monetary Authority F.108 21 L.108 67

Private Depository Institutions F.109 22 L.109 68

U.S.-Chartered Depository Institutions, ex. Credit 

Unions F.110 23 L.110 69

List of Data Tables
ii

Sectors

Foreign Banking Offices in U.S. F.111 24 L.111 70

Banks in U.S.-Affiliated Areas F.112 25 L.112 71

Credit Unions F.113 25 L.113 71

Property-Casualty Insurance Companies F.114 26 L.114 72

Life Insurance Companies F.115 26 L.115 72

Private Pension Funds F.116 27 L.116 73

State and Local Government Employee Retirement 

Funds F.117 28 L.117 74

Federal Government Retirement Funds F.118 28 L.118 74

Money Market Mutual Funds F.119 29 L.119 75

Mutual Funds F.120 29 L.120 75

Closed-End and Exchange-Traded Funds F.121 29 L.121 75

Government-Sponsored Enterprises F.122 30 L.122 76

Agency- and GSE-Backed Mortgage Pools F.123 30 L.123 76

Issuers of Asset-Backed Securities F.124 31 L.124 77

Finance Companies F.125 31 L.125 77

Real Estate Investment Trusts F.126 32 L.126 78

Security Brokers and Dealers F.127 33 L.127 79

Holding Companies F.128 34 L.128 80

Funding Corporations F.129 35 L.129 81

Instruments

U.S. Official Reserve Assets and SDR Allocations F.200 36 L.200 82

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 36 L.201 82

U.S. Deposits in Foreign Countries F.202 36 L.202 82

Net Interbank Transactions F.203 37 L.203 83

Checkable Deposits and Currency F.204 38 L.204 84

Time and Savings Deposits F.205 39 L.205 85

Money Market Mutual Fund Shares F.206 39 L.206 85

Federal Funds and Security Repurchase Agreements F.207 40 L.207 86

Open Market Paper F.208 41 L.208 87

Treasury Securities F.209 42 L.209 88

Agency- and GSE-Backed Securities F.210 43 L.210 89

Municipal Securities and Loans F.211 44 L.211 90

Corporate and Foreign Bonds F.212 45 L.212 91
iii

Instruments

Corporate Equities F.213 46 L.213 92

Mutual Fund Shares F.214 46 L.214 92

Depository Institution Loans Not Elsewhere Classified F.215 47 L.215 93

Other Loans and Advances F.216 48 L.216 94

Total Mortgages F.217 49 L.217 95

Home Mortgages F.218 50 L.218 96

Multifamily Residential Mortgages F.219 50 L.219 96

Commercial Mortgages F.220 51 L.220 97

Farm Mortgages F.221 51 L.221 97

Consumer Credit F.222 52 L.222 98

Trade Credit F.223 52 L.223 98

Security Credit F.224 52 L.224 98

Life Insurance and Pension Fund Reserves F.225 53 L.225 99

Taxes Payable by Businesses F.226 53 L.226 99

Proprietors' Equity in Noncorporate Business F.227 53 L.227 99

Total Miscellaneous Financial Claims F.228 54 L.228 100

Identified Miscellaneous Financial Claims - Part I F.229 55 L.229 101

Identified Miscellaneous Financial Claims - Part II F.230 56 L.230 102

Unidentified Miscellaneous Financial Claims F.231 57 L.231 103

Sector Discrepancies F.11 58

Instrument Discrepancies F.12 58

Title

Balance Sheet Reconciliation

Table Page Table Page

Balance Sheet and Changes in Net Worth

Households and Nonprofit Organizations B.100 104 R.100 107

Nonfinancial Corporate Business B.102 105 R.102 108

Nonfarm Noncorporate Business B.103 106 R.103 109

Title

Flows Levels

Table Page Table Page

Supplementary Tables

Balance Sheet of Households and Nonprofit 

Organizations with Equity Detail B.100.e 110

Consolidated Statement for Federal, State, and Local 

Governments F.105.c 111 L.105.c 112
iv

Private Pension Funds: Defined Benefit Plans F.116.b 113 L.116.b 114

Private Pension Funds: Defined Contribution Plans F.116.c 113 L.116.c 114

Individual Retirement Accounts (IRAs) F.225.i 113 L.225.i 114

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy–Current Account S.1.a 115

Selected Aggregates for Total Economy and Sectors S.2.a 116

Households and Nonprofit Institutions Serving Households S.3.a 118

Nonfinancial Noncorporate Business S.4.a 121

Nonfinancial Corporate Business S.5.a 124

Financial Business S.6.a 127

Federal Government S.7.a 130

State and Local Governments S.8.a 133

Rest of the World S.9.a 136
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Historical Annuals, 1945-1954, June 6, 2013 1

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

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Credit market borrowing ND -4.8 16.9 14.6 15.2 27.8 24.0 35.3 30.6 25.1 1

 2 Domestic nonfinancial sectors ND -9.0 11.8 11.6 14.3 25.3 22.3 33.4 29.0 25.2 2

 3 Household sector ND 7.3 8.8 8.5 7.8 12.8 8.6 12.0 12.2 11.5 3

 4 Nonfinancial corporate business ND 5.3 6.9 6.2 1.6 6.0 8.4 6.3 3.9 3.5 4

 5 Nonfinancial noncorporate business ND 1.9 1.7 1.3 1.4 3.1 3.3 2.5 0.9 2.6 5

 6 State and local governments ND 0.0 1.6 1.4 0.9 4.6 2.4 7.2 5.0 5.3 6

 7 Federal government ND -23.4 -7.2 -5.7 2.6 -1.2 -0.4 5.4 7.0 2.4 7

 8 Rest of the world ND 3.0 4.3 1.4 0.2 0.1 0.6 0.5 0.0 0.3 8

 9 Financial sectors ND 1.2 0.8 1.6 0.8 2.3 1.1 1.5 1.6 -0.4 9

 10 U.S.-chartered depository institutions ND 0.2 0.2 0.1 -0.1 0.5 0.2 -0.0 0.2 0.2 10

 11 Foreign banking offices in U.S. ND 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.1 11

 12 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Life insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Government-sponsored enterprises ND 0.3 0.1 0.3 -0.1 0.4 0.2 0.0 -0.0 -0.0 14

 15 Agency- and GSE-backed mortgage pools ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Finance companies ND 0.7 0.5 1.2 1.0 1.4 0.7 1.5 1.4 -0.6 17

 18 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Credit market lending ND -4.8 16.9 14.6 15.2 27.8 24.0 35.3 30.6 25.1 22

 23 Domestic nonfinancial sectors ND -4.2 6.8 5.9 5.2 7.6 4.4 11.2 8.7 -0.8 23

 24 Household sector ND -0.7 1.2 2.2 0.9 1.6 0.7 7.7 5.0 -0.1 24

 25 Nonfinancial corporate business ND -5.1 0.5 1.5 2.5 4.3 1.5 -1.1 2.1 -1.3 25

 26 Nonfinancial noncorporate business ND 0.1 0.1 0.1 0.1 0.2 0.1 1.4 0.1 0.0 26

 27 State and local governments ND -0.7 0.7 0.7 0.5 0.7 0.8 1.5 1.0 0.9 27

 28 Federal government ND 2.3 4.3 1.4 1.3 0.7 1.3 1.6 0.6 -0.3 28

 29 Rest of the world ND -0.7 0.7 0.1 0.2 1.4 0.1 0.2 0.7 0.6 29

 30 Financial sectors ND 0.1 9.5 8.6 9.8 18.8 19.5 23.9 21.3 25.3 30

 31 Monetary authority ND -0.8 -0.9 0.9 -4.6 1.8 2.9 0.5 1.3 -0.3 31

 32 U.S.-chartered depository institutions ND -3.2 5.8 0.4 8.0 9.5 9.8 12.9 9.2 15.5 32

 33 Foreign banking offices in U.S. ND 0.1 0.1 0.1 0.2 0.2 0.3 0.2 0.0 0.1 33

 34 Banks in U.S.-affiliated areas ND -0.0 -0.1 -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 34

 35 Credit unions ND 0.1 0.1 0.1 0.1 0.2 0.1 0.2 0.3 0.2 35

 36 Property-casualty insurance companies ND 0.6 0.7 0.9 0.7 0.8 0.6 0.9 1.1 1.0 36

 37 Life insurance companies ND 3.2 3.0 3.5 3.5 3.5 3.6 4.4 4.7 4.8 37

 38 Private pension funds ND 0.3 0.3 0.3 0.3 0.3 0.8 1.1 1.3 1.3 38

 39 State and local govt. retirement funds ND 0.3 0.3 0.4 0.5 0.6 0.7 1.0 1.3 1.5 39

 40 Federal government retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Mutual funds ND 0.1 0.0 0.0 0.1 0.1 0.2 0.0 0.0 0.1 42

 43 Closed-end funds ND 0.0 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.1 43

 44 Exchange-traded funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Government-sponsored enterprises ND 0.1 0.2 0.4 -0.0 0.5 0.4 0.1 0.1 0.3 45

 46 Agency- and GSE-backed mortgage pools ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 Finance companies ND 0.6 0.7 0.9 0.9 1.4 0.4 2.1 1.7 0.7 48

 49 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 Brokers and dealers ND -1.1 -0.7 0.6 0.1 -0.1 -0.2 0.3 0.1 0.0 50

 51 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 51

 52 Funding corporations ND -0.1 -0.0 0.0 -0.0 -0.0 -0.1 0.1 0.0 -0.0 52

(1) Excludes corporate equities and mutual fund shares.
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2 Historical Annuals, 1945-1954, June 6, 2013

F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Domestic ND -9.0 11.8 11.6 14.3 25.3 22.3 33.4 29.0 25.2 1

 2 By instrument ND -9.0 11.8 11.6 14.3 25.3 22.3 33.4 29.0 25.2 2

 3 Commercial paper ND 0.0 0.0 -0.0 -0.0 0.0 0.1 0.1 0.1 0.1 3

 4 Treasury securities ND -23.2 -7.2 -6.6 2.5 -0.6 -0.3 5.0 5.4 2.3 4

 5 Agency- and GSE-backed securities ND -0.2 -0.0 0.8 0.1 -0.6 -0.1 0.4 1.6 0.1 5

 6 Municipal securities ND 0.1 1.6 1.3 1.0 4.5 2.1 6.9 5.4 5.7 6

 7 Corporate bonds ND 1.0 2.8 4.3 2.9 1.6 3.3 4.7 3.5 3.5 7

 8 Depository institution loans n.e.c. ND 4.3 3.7 0.7 -2.0 4.7 5.2 1.0 -1.0 -0.3 8

 9 Other loans and advances ND -0.1 0.2 0.6 0.3 0.9 1.2 1.2 0.1 0.3 9

 10 Mortgages ND 6.2 7.2 7.4 6.5 10.2 9.4 9.0 9.8 12.2 10

 11 Home ND 4.4 5.2 5.1 4.3 7.6 6.5 6.7 7.5 9.4 11

 12 Multifamily residential ND 0.3 0.5 0.9 1.2 1.5 1.3 0.8 0.6 0.5 12

 13 Commercial ND 1.3 1.3 1.1 0.7 0.6 1.0 0.9 1.2 1.7 13

 14 Farm ND 0.1 0.2 0.2 0.3 0.5 0.6 0.6 0.5 0.5 14

 15 Consumer credit ND 3.0 3.5 3.0 3.0 4.6 1.4 5.2 4.1 1.3 15

 16 By sector ND -9.0 11.8 11.6 14.3 25.3 22.3 33.4 29.0 25.2 16

 17 Household sector ND 7.3 8.8 8.5 7.8 12.8 8.6 12.0 12.2 11.5 17

 18 Nonfinancial business ND 7.1 8.6 7.5 3.0 9.1 11.7 8.8 4.8 6.0 18

 19 Corporate ND 5.3 6.9 6.2 1.6 6.0 8.4 6.3 3.9 3.5 19

 20 Noncorporate ND 1.9 1.7 1.3 1.4 3.1 3.3 2.5 0.9 2.6 20

 21 State and local governments ND 0.0 1.6 1.4 0.9 4.6 2.4 7.2 5.0 5.3 21

 22 Federal government ND -23.4 -7.2 -5.7 2.6 -1.2 -0.4 5.4 7.0 2.4 22

 23 Foreign borrowing in U.S. ND 3.0 4.3 1.4 0.2 0.1 0.6 0.5 0.0 0.3 23

 24 Commercial paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Bonds ND -0.1 -0.0 0.1 -0.0 0.3 0.3 0.0 -0.1 -0.1 25

 26 Depository institution loans n.e.c. ND 0.3 0.2 0.2 -0.3 -0.3 0.2 0.0 -0.1 0.5 26

 27 Other loans and advances ND 2.7 4.2 1.1 0.5 0.2 0.2 0.4 0.3 -0.1 27

 28 Domestic and foreign ND -6.0 16.1 13.0 14.4 25.5 22.9 33.8 29.0 25.5 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars

 1 By instrument ND 1.2 0.8 1.6 0.8 2.3 1.1 1.5 1.6 -0.4 1

 2 Open market paper ND 0.2 0.2 0.2 0.2 0.2 0.4 0.4 0.3 0.2 2

 3 GSE issues ND 0.3 0.1 0.3 -0.1 0.4 0.2 0.0 -0.0 -0.0 3

 4 Agency- and GSE-backed mortgage pool sec. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate bonds ND 0.1 0.1 0.4 0.3 0.2 0.4 0.0 1.4 -0.3 5

 6 Depository institution loans n.e.c. ND 0.5 0.3 0.6 0.5 1.2 -0.1 1.1 -0.2 -0.1 6

 7 Other loans and advances ND 0.1 0.1 0.1 -0.1 0.4 0.1 -0.0 0.1 -0.1 7

 8 Mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 By sector ND 1.2 0.8 1.6 0.8 2.3 1.1 1.5 1.6 -0.4 9

 10 U.S.-chartered depository institutions ND 0.2 0.2 0.1 -0.1 0.5 0.2 -0.0 0.2 0.2 10

 11 Foreign banking offices in U.S. ND 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.1 11

 12 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Life insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Government-sponsored enterprises ND 0.3 0.1 0.3 -0.1 0.4 0.2 0.0 -0.0 -0.0 14

 15 Agency- and GSE-backed mortgage pools ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Finance companies ND 0.7 0.5 1.2 1.0 1.4 0.7 1.5 1.4 -0.6 17

 18 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21
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Historical Annuals, 1945-1954, June 6, 2013 3

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

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total ND -4.8 16.9 14.6 15.2 27.8 24.0 35.3 30.6 25.1 1

 2 Open market paper ND 0.3 0.2 0.2 0.2 0.2 0.5 0.4 0.4 0.3 2

 3 Treasury securities ND -23.2 -7.2 -6.6 2.5 -0.6 -0.3 5.0 5.4 2.3 3

 4 Agency- and GSE-backed securities ND 0.1 0.1 1.1 -0.0 -0.2 0.1 0.4 1.6 0.1 4

 5 Municipal securities ND 0.1 1.6 1.3 1.0 4.5 2.1 6.9 5.4 5.7 5

 6 Corporate and foreign bonds ND 0.9 2.9 4.8 3.2 2.1 4.0 4.7 4.8 3.2 6

 7 Depository institution loans n.e.c. ND 5.2 4.1 1.5 -1.8 5.6 5.3 2.1 -1.3 0.0 7

 8 Other loans and advances ND 2.7 4.5 1.8 0.7 1.4 1.5 1.5 0.5 0.1 8

 9 Mortgages ND 6.2 7.2 7.4 6.5 10.2 9.4 9.0 9.8 12.2 9

 10 Consumer credit ND 3.0 3.5 3.0 3.0 4.6 1.4 5.2 4.1 1.3 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues ND 1.5 1.7 1.3 1.9 1.7 2.7 3.1 2.8 2.1 11

 12 Corporate equities ND 1.2 1.5 1.1 1.5 1.5 2.3 2.6 2.5 1.6 12

 13 Nonfinancial ND 1.0 1.1 1.0 1.2 1.3 2.1 2.3 1.8 1.6 13

 Foreign shares purchased by

 14 U.S. residents ND 0.1 0.0 -0.1 -0.0 -0.2 -0.2 0.0 0.1 0.3 14

 15 Financial ND 0.1 0.4 0.2 0.3 0.4 0.4 0.3 0.6 -0.3 15

 16 Mutual fund shares ND 0.2 0.2 0.1 0.3 0.3 0.4 0.5 0.4 0.4 16

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

Billions of dollars

 Net flows through credit markets

 1 (from table F.4, line 1) ND -4.8 16.9 14.6 15.2 27.8 24.0 35.3 30.6 25.1 1

 2 U.S. official reserve assets ND -0.2 1.2 0.4 0.2 -0.0 -0.0 0.0 -0.1 -0.2 2

 3 SDR certificates ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Treasury currency ND 0.1 -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 4

 5 Foreign deposits ND 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 5

 6 Net interbank transactions ND -0.2 2.2 2.4 -3.4 2.5 2.7 -0.1 -0.3 -1.7 6

 7 Checkable deposits and currency ND -14.6 1.1 -0.6 -0.0 5.3 7.2 6.5 0.0 4.6 7

 8 Small time and savings deposits ND 6.3 3.4 2.2 2.6 2.5 5.0 7.9 8.3 9.4 8

 9 Large time deposits ND 0.2 0.2 0.3 0.4 0.3 -0.0 0.3 0.9 1.2 9

 10 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Security RPs ND 2.0 0.3 0.2 0.1 -0.2 0.1 -0.1 -0.1 -0.4 11

 12 Corporate equities ND 1.2 1.5 1.1 1.5 1.5 2.3 2.6 2.5 1.6 12

 13 Mutual fund shares ND 0.2 0.2 0.1 0.3 0.3 0.4 0.5 0.4 0.4 13

 14 Trade payables ND 6.1 3.8 3.0 0.2 10.5 2.0 2.1 0.5 4.3 14

 15 Security credit ND -4.3 -1.2 0.2 0.8 1.1 -0.4 0.6 0.9 2.1 15

 16 Life insurance reserves ND 3.8 3.2 2.8 2.8 2.9 2.7 2.9 3.0 2.7 16

 17 Pension fund reserves ND 1.2 2.2 2.4 2.7 2.0 3.3 5.8 5.3 5.6 17

 18 Taxes payable ND -1.9 2.1 0.9 -2.1 7.4 4.7 -2.8 1.1 -3.5 18

 19 Noncorporate proprietors’ equity ND 1.3 -3.1 4.7 1.1 -0.6 2.0 2.5 2.9 -1.1 19

 20 Miscellaneous ND 2.3 6.6 2.8 3.8 5.1 2.8 4.7 3.3 4.8 20

 21 Total financial sources ND -1.1 40.4 37.6 26.1 68.4 59.0 68.8 59.2 55.1 21

 - Liabilities not identified as assets:

 22 Treasury currency ND -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.0 -0.1 22

 23 Foreign deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Net interbank liabilities ND -0.2 0.2 -0.1 0.1 0.1 -0.6 -0.0 -0.0 -0.2 24

 25 Security RPs ND 2.0 0.3 0.2 0.1 -0.2 -0.0 -1.0 0.0 0.2 25

 26 Taxes payable ND -7.8 -7.5 -7.3 -7.3 -8.2 -9.0 -8.8 -9.5 -9.5 26

 27 Miscellaneous ND 1.0 1.4 -0.2 0.5 2.7 -0.5 -0.9 -1.1 1.3 27

 - Floats not included in assets:

 28 Checkable deposits: State and local govt. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 -0.0 28

 29 Federal govt. ND 0.6 -1.6 0.1 0.1 -0.2 -0.0 -0.6 0.2 0.6 29

 30 Private domestic ND 0.3 0.7 -0.4 0.3 0.6 0.2 1.6 -0.0 -0.5 30

 31 Trade credit ND 2.9 -1.7 0.7 1.1 -1.4 -2.5 -3.8 1.0 0.5 31

 Totals identified to sectors

 32 as assets ND 0.1 48.5 44.5 31.2 75.1 71.5 82.2 68.5 62.8 32
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4 Historical Annuals, 1945-1954, June 6, 2013

L.1 Credit Market Debt Outstanding (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total credit market debt owed by: 354.9 350.9 367.8 382.4 397.6 425.4 449.3 484.7 516.7 541.8 1

 2 Domestic nonfinancial sectors 348.2 340.0 351.8 363.5 377.8 403.1 425.3 458.7 488.0 513.2 2

 3 Household sector 28.2 35.5 44.3 52.8 60.6 73.4 82.0 94.0 106.2 117.7 3

 4 Nonfinancial corporate business 44.6 49.7 56.6 62.7 64.3 70.3 78.8 85.0 89.2 92.6 4

 5 Nonfinancial noncorporate business 11.3 14.0 15.8 17.2 18.5 21.6 24.9 27.4 28.4 30.9 5

 6 State and local governments 12.6 12.7 14.3 15.7 16.6 21.2 23.6 30.8 35.8 41.1 6

 7 Federal government 251.5 228.0 220.8 215.1 217.7 216.5 216.1 221.4 228.4 230.8 7

 8 Rest of the world 5.0 8.0 12.3 13.7 13.8 13.9 14.6 15.0 16.2 16.4 8

 9 Financial sectors 1.7 2.9 3.7 5.2 6.0 8.4 9.5 11.0 12.6 12.2 9

 10 U.S.-chartered depository institutions 0.3 0.5 0.6 0.7 0.6 1.1 1.3 1.3 1.4 1.6 10

 11 Foreign banking offices in U.S. 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 11

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

 13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Government-sponsored enterprises 0.9 1.2 1.3 1.6 1.4 1.8 2.1 2.1 2.1 2.1 14

 15 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 15

 16 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Finance companies 0.5 1.2 1.7 2.9 3.9 5.3 6.0 7.5 8.9 8.3 17

 18 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Total credit market assets held by: 354.9 350.9 367.8 382.4 397.6 425.4 449.3 484.7 516.7 541.8 22

 23 Domestic nonfinancial sectors 125.9 122.5 129.2 135.1 140.2 147.8 152.2 163.4 173.5 172.6 23

 24 Household sector 91.0 90.3 91.5 93.7 94.6 96.2 96.9 104.6 109.6 109.5 24

 25 Nonfinancial corporate business 21.6 16.5 16.9 18.4 20.9 25.3 26.8 25.7 27.8 26.5 25

 26 Nonfinancial noncorporate business 0.6 0.7 0.8 0.9 1.0 1.1 1.3 2.7 2.8 2.8 26

 27 State and local governments 7.5 6.8 7.5 8.2 8.6 9.4 10.1 11.7 12.6 13.5 27

 28 Federal government 5.2 8.3 12.6 13.9 15.1 15.9 17.1 18.7 20.7 20.4 28

 29 Rest of the world 3.1 2.4 3.0 3.1 3.4 4.8 4.9 5.1 5.8 6.4 29

 30 Financial sectors 225.9 226.0 235.5 244.2 254.0 272.7 292.3 316.2 337.4 362.7 30

 31 Monetary authority 24.3 23.5 22.6 23.5 19.0 20.7 23.6 24.1 25.3 25.0 31

 32 U.S.-chartered depository institutions 140.5 137.3 143.1 143.5 151.5 161.1 170.9 183.7 193.0 208.5 32

 33 Foreign banking offices in U.S. 0.4 0.5 0.5 0.6 0.8 1.0 1.3 1.5 1.5 1.6 33

 34 Banks in U.S.-affiliated areas 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 34

 35 Credit unions 0.2 0.2 0.3 0.5 0.6 0.7 0.8 1.1 1.4 1.6 35

 36 Property-casualty insurance companies 3.5 4.1 4.8 5.7 6.4 7.2 7.8 8.7 9.9 10.8 36

 37 Life insurance companies 41.2 44.4 47.4 50.9 54.4 57.9 61.6 65.9 70.6 75.4 37

 38 Private pension funds 3.9 4.1 4.4 4.7 5.0 5.3 6.0 7.2 8.5 9.8 38

 39 State and local govt. retirement funds 2.5 2.8 3.1 3.5 4.1 4.7 5.4 6.4 7.7 9.2 39

 40 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Mutual funds 0.2 0.3 0.3 0.3 0.4 0.4 0.5 0.5 0.5 0.7 42

 43 Closed-end funds 0.2 0.2 0.3 0.3 0.3 0.4 0.4 0.5 0.6 0.6 43

 44 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Government-sponsored enterprises 2.0 2.1 2.3 2.7 2.6 3.1 3.5 3.6 3.7 4.0 45

 46 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 46

 47 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 Finance companies 3.6 4.3 5.0 5.9 6.8 8.2 8.7 10.8 12.5 13.2 48

 49 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 Brokers and dealers 2.7 1.6 0.9 1.5 1.5 1.4 1.2 1.5 1.6 1.6 50

 51 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 51

 52 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 52

(1) Excludes corporate equities and mutual fund shares.
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Historical Annuals, 1945-1954, June 6, 2013 5

L.2 Credit Market Debt Owed by Nonfinancial Sectors

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Domestic 348.2 340.0 351.8 363.5 377.8 403.1 425.3 458.7 488.0 513.2 1

 2 By instrument 348.2 340.0 351.8 363.5 377.8 403.1 425.3 458.7 488.0 513.2 2

 3 Commercial paper 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 3

 4 Treasury securities 251.2 227.9 220.7 214.2 216.7 216.1 215.8 220.8 226.2 228.5 4

 5 Agency- and GSE-backed securities 0.3 0.1 0.1 0.9 1.0 0.4 0.2 0.6 2.3 2.3 5

 6 Municipal securities 12.1 12.2 13.8 15.1 16.1 20.7 22.8 29.7 35.0 40.7 6

 7 Corporate bonds 23.9 24.9 27.7 32.0 34.9 36.5 39.8 44.5 48.0 51.5 7

 8 Depository institution loans n.e.c. 10.5 14.8 18.5 19.2 17.2 21.9 27.2 28.2 27.2 26.9 8

 9 Other loans and advances 7.4 8.2 8.4 9.0 9.3 10.2 11.4 12.5 13.0 13.3 9

 10 Mortgages 35.8 42.0 49.2 56.5 63.0 73.2 82.5 91.5 101.4 113.5 10

 11 Home 18.7 23.1 28.2 33.4 37.7 45.3 51.7 58.4 66.0 75.3 11

 12 Multifamily residential 4.9 5.3 5.8 6.7 7.8 9.3 10.6 11.5 12.1 12.7 12

 13 Commercial 7.5 8.8 10.1 11.2 11.9 12.5 13.5 14.4 15.6 17.3 13

 14 Farm 4.8 4.9 5.1 5.3 5.6 6.1 6.7 7.2 7.7 8.2 14

 15 Consumer credit 6.8 9.8 13.3 16.3 19.4 23.9 25.4 30.5 34.6 36.0 15

 16 By sector 348.2 340.0 351.8 363.5 377.8 403.1 425.3 458.7 488.0 513.2 16

 17 Household sector 28.2 35.5 44.3 52.8 60.6 73.4 82.0 94.0 106.2 117.7 17

 18 Nonfinancial business 55.8 63.8 72.4 79.9 82.9 92.0 103.7 112.5 117.5 123.6 18

 19 Corporate 44.6 49.7 56.6 62.7 64.3 70.3 78.8 85.0 89.2 92.6 19

 20 Noncorporate 11.3 14.0 15.8 17.2 18.5 21.6 24.9 27.4 28.4 30.9 20

 21 State and local governments 12.6 12.7 14.3 15.7 16.6 21.2 23.6 30.8 35.8 41.1 21

 22 Federal government 251.5 228.0 220.8 215.1 217.7 216.5 216.1 221.4 228.4 230.8 22

 Foreign credit market debt

 23 held in U.S. 5.0 8.0 12.3 13.7 13.8 13.9 14.6 15.0 16.2 16.4 23

 24 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Bonds 2.9 2.8 2.8 2.9 2.9 3.1 3.4 3.4 3.3 3.3 25

 26 Depository institution loans n.e.c. 0.5 0.8 1.0 1.2 0.9 0.7 0.8 0.9 0.7 1.2 26

 27 Other loans and advances 1.6 4.4 8.5 9.6 10.0 10.1 10.4 10.8 12.1 12.0 27

 28 Domestic and foreign 353.2 348.0 364.1 377.2 391.5 417.0 439.9 473.7 504.1 529.6 28

L.3 Credit Market Debt Owed by Financial Sectors

Billions of dollars

 1 By instrument 1.7 2.9 3.7 5.2 6.0 8.4 9.5 11.0 12.6 12.2 1

 2 Open market paper 0.2 0.4 0.6 0.8 1.0 1.1 1.6 1.9 2.2 2.4 2

 3 GSE issues 0.9 1.2 1.3 1.6 1.4 1.8 2.1 2.1 2.1 2.1 3

 4 Agency- and GSE-backed mortgage pool sec. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 4

 5 Corporate bonds 0.1 0.2 0.3 0.8 1.1 1.3 1.7 1.7 3.1 2.8 5

 6 Depository institution loans n.e.c. 0.3 0.8 1.0 1.6 2.1 3.3 3.2 4.4 4.2 4.0 6

 7 Other loans and advances 0.2 0.3 0.4 0.5 0.4 0.8 0.9 0.9 1.0 0.9 7

 8 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 By sector 1.7 2.9 3.7 5.2 6.0 8.4 9.5 11.0 12.6 12.2 9

 10 U.S.-chartered depository institutions 0.3 0.5 0.6 0.7 0.6 1.1 1.3 1.3 1.4 1.6 10

 11 Foreign banking offices in U.S. 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 11

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

 13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Government-sponsored enterprises 0.9 1.2 1.3 1.6 1.4 1.8 2.1 2.1 2.1 2.1 14

 15 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 15

 16 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Finance companies 0.5 1.2 1.7 2.9 3.9 5.3 6.0 7.5 8.9 8.3 17

 18 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21
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6 Historical Annuals, 1945-1954, June 6, 2013

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

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total 354.9 350.9 367.8 382.4 397.6 425.4 449.3 484.7 516.7 541.8 1

 2 Open market paper 0.3 0.6 0.8 0.9 1.1 1.3 1.8 2.2 2.6 2.9 2

 3 Treasury securities 251.2 227.9 220.7 214.2 216.7 216.1 215.8 220.8 226.2 228.5 3

 4 Agency- and GSE-backed securities 1.2 1.3 1.4 2.5 2.5 2.2 2.3 2.8 4.4 4.5 4

 5 Municipal securities 12.1 12.2 13.8 15.1 16.1 20.7 22.8 29.7 35.0 40.7 5

 6 Corporate and foreign bonds 26.9 27.9 30.8 35.6 38.8 40.9 44.9 49.6 54.4 57.6 6

 7 Depository institution loans n.e.c. 11.3 16.4 20.6 22.1 20.3 25.9 31.2 33.4 32.1 32.1 7

 8 Other loans and advances 9.3 12.8 17.3 19.1 19.7 21.1 22.6 24.2 26.0 26.1 8

 9 Mortgages 35.8 42.0 49.2 56.5 63.0 73.2 82.5 91.5 101.4 113.5 9

 10 Consumer credit 6.8 9.8 13.3 16.3 19.4 23.9 25.4 30.5 34.6 36.0 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 117.7 109.7 107.6 106.5 116.9 142.7 166.5 168.6 164.6 224.3 11

 12 Mutual fund shares 1.2 1.3 1.4 1.5 3.1 3.3 3.5 3.9 4.1 6.1 12

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

Billions of dollars

 Total credit market debt

 1 (from table L.4) 354.9 350.9 367.8 382.4 397.6 425.4 449.3 484.7 516.7 541.8 1

 2 U.S. official reserve assets 0.0 -0.2 0.9 1.3 1.5 1.4 1.4 1.5 1.4 1.2 2

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

 4 Treasury currency 2.3 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.5 2.5 4

 5 Foreign deposits 0.0 0.1 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.2 5

 6 Net interbank liabilities 19.5 19.3 21.5 24.0 20.5 23.0 25.7 25.6 25.3 23.7 6

 7 Checkable deposits and currency 133.7 119.1 120.2 119.6 119.6 124.9 132.1 138.7 138.7 143.3 7

 8 Small time and savings deposits 50.3 56.6 60.0 62.2 64.9 67.3 72.3 80.2 88.5 97.8 8

 9 Large time deposits 3.2 3.4 3.6 3.9 4.3 4.6 4.5 4.9 5.8 7.0 9

 10 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Security RPs -3.6 -1.6 -1.3 -1.1 -1.0 -1.1 -1.0 -1.1 -1.2 -1.5 11

 12 Mutual fund shares 1.2 1.3 1.4 1.5 3.1 3.3 3.5 3.9 4.1 6.1 12

 13 Security credit 8.9 4.6 3.4 3.6 4.4 5.5 5.1 5.7 6.5 8.6 13

 14 Life insurance reserves 39.6 43.4 46.5 49.4 52.1 55.0 57.8 60.7 63.6 66.3 14

 15 Pension fund reserves 12.0 13.3 15.4 17.8 20.5 23.2 26.8 33.5 38.5 43.9 15

 16 Trade payables 21.5 27.6 31.4 34.3 34.5 45.1 46.9 48.9 49.5 53.8 16

 17 Taxes payable 10.5 8.6 10.7 11.6 9.5 16.9 21.6 18.8 19.9 16.4 17

 18 Miscellaneous 30.1 31.8 35.9 39.4 43.2 48.6 51.8 58.7 62.8 68.6 18

 19 Total liabilities 684.1 680.5 719.9 752.5 777.2 845.6 900.4 967.1 1022.8 1079.7 19

 + Financial assets not included in

 liabilities:

 20 Gold 20.1 20.7 22.9 24.4 24.6 22.8 22.9 23.3 22.1 21.8 20

 21 Corporate equities 117.7 109.7 107.6 106.5 116.9 142.7 166.5 168.6 164.6 224.3 21

 22 Household equity in noncorp. bus. 193.2 229.3 259.4 276.6 278.6 294.4 320.5 322.2 321.9 325.7 22

 - Liabilities not identified as assets:

 23 Treasury currency -1.9 -2.0 -2.0 -2.0 -2.1 -2.1 -2.2 -2.2 -2.3 -2.3 23

 24 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Net interbank transactions 0.5 0.3 0.5 0.4 0.6 0.7 0.1 0.0 0.0 -0.2 25

 26 Security RPs -3.6 -1.6 -1.3 -1.1 -1.0 -1.2 -1.2 -2.2 -2.1 -1.9 26

 27 Taxes payable 0.4 -0.1 -0.4 -0.3 -0.1 -0.1 -0.5 9.0 12.1 11.4 27

 28 Miscellaneous 2.2 2.7 4.4 4.6 5.3 6.9 6.7 7.1 6.8 8.5 28

 - Floats not included in assets:

 29 Checkable deposits: State and local govt. 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.6 1.8 1.8 29

 30 Federal govt. 0.8 1.4 -0.1 -0.1 0.0 -0.2 -0.2 -0.8 -0.7 -0.0 30

 31 Private domestic 3.9 4.2 4.9 4.5 4.8 5.4 5.6 7.2 7.2 6.7 31

 32 Trade credit -5.6 -2.7 -4.4 -3.7 -2.6 -4.0 -6.7 -10.6 -9.6 -9.0 32

 33 Totals identified to sectors as assets 1016.8 1036.5 1106.8 1155.9 1190.7 1298.6 1407.2 1472.1 1518.2 1636.6 33
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Historical Annuals, 1945-1954, June 6, 2013 7

F.6 Distribution of Gross Domestic Product (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross Domestic Product (GDP) ND 222.2 244.1 269.1 267.2 293.7 339.3 358.3 379.3 380.4 1

 2 Personal consumption expenditures (2) 120.0 144.3 162.0 175.0 178.5 192.2 208.5 219.5 233.1 240.0 2

 3 Durable goods 8.0 17.1 21.8 24.5 26.6 32.4 31.7 31.2 34.6 33.7 3

 4 Nondurable goods 71.9 69.1 77.6 83.0 81.5 84.4 93.0 97.5 100.2 102.1 4

 5 Services 40.1 58.1 62.6 67.6 70.4 75.4 83.8 90.7 98.2 104.2 5

 6 Gross private domestic investment ND 31.1 35.0 48.1 36.9 54.1 60.2 54.0 56.4 53.8 6

 7 Fixed investment ND 25.1 35.5 42.4 39.6 48.3 50.3 50.5 54.5 55.8 7

 8 Nonresidential ND 17.3 23.5 26.8 24.9 27.8 31.8 31.9 35.1 34.7 8

 9 Household sector (nonprofit organizations) 0.4 0.5 0.7 1.1 1.2 1.8 1.8 1.7 1.9 2.2 9

 10 Nonfinancial corporate business 8.0 11.6 16.3 18.0 14.6 19.1 21.4 21.8 23.7 23.2 10

 11 Nonfinancial noncorporate business ND 5.0 5.8 6.9 8.4 5.9 7.6 7.6 8.4 8.1 11

 12 Financial institutions ND 0.3 0.7 0.8 0.7 0.9 0.9 0.8 1.1 1.1 12

 13 Residential ND 7.8 12.1 15.6 14.6 20.5 18.4 18.6 19.4 21.1 13

 14 Household sector -0.0 6.6 13.0 12.7 13.8 18.2 15.2 16.1 16.8 18.3 14

 15 Nonfinancial corporate business ND 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 15

 16 Nonfinancial noncorporate business ND 1.1 -1.0 2.8 0.7 2.3 3.2 2.4 2.5 2.7 16

 17 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Change in private inventories ND 6.0 -0.6 5.7 -2.7 5.8 9.9 3.5 1.9 -1.9 18

 19 Nonfinancial corporate business ND 5.9 1.1 2.9 -2.0 5.6 8.5 2.1 1.2 -2.0 19

 20 Nonfinancial noncorporate business ND 0.1 -1.7 2.8 -0.7 0.2 1.4 1.5 0.8 0.1 20

 21 Net U.S. exports of goods and services ND 7.2 10.8 5.5 5.2 0.7 2.5 1.2 -0.7 0.4 21

 22 Exports ND 14.2 18.7 15.5 14.5 12.4 17.1 16.5 15.3 15.8 22

 23 - Imports ND 7.0 7.9 10.1 9.2 11.6 14.6 15.3 16.0 15.4 23

 Government consumption expenditures and

 24 gross investment ND 39.6 36.3 40.5 46.6 46.7 68.1 83.6 90.5 86.1 24

 25 Consumption expenditures (3) ND 36.1 31.7 33.5 36.9 36.9 50.4 61.3 66.5 63.6 25

 26 Federal ND 26.9 20.8 21.2 23.3 22.0 34.4 44.2 48.3 43.9 26

 27 State and local ND 9.2 10.9 12.3 13.7 14.9 16.1 17.1 18.2 19.7 27

 28 Gross investment (3) ND 3.5 4.6 7.0 9.7 9.8 17.6 22.3 24.0 22.5 28

 29 Federal ND 1.9 1.8 3.0 4.4 3.9 10.7 15.0 16.1 13.3 29

 30 State and local ND 1.6 2.8 4.0 5.3 5.9 7.0 7.3 7.9 9.2 30

 Memo:

 31 Net U.S. income receipts from rest of the world ND 0.7 1.1 1.5 1.3 1.4 1.9 2.0 1.9 2.1 31

 32 U.S. income receipts ND 1.1 1.6 2.0 1.9 2.2 2.8 2.9 2.8 3.0 32

 33 - U.S. income payments ND 0.4 0.5 0.6 0.7 0.7 0.9 0.9 0.9 0.9 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts ND 222.9 245.2 270.6 268.5 295.2 341.2 360.3 381.2 382.5 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Nonfinancial corporate business ND -0.1 -0.1 -0.1 -0.2 -0.3 -0.3 -0.3 -0.3 -0.4 36

 37 State and local governments 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.3 0.3 0.4 37

 38 Federal governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Rest of the world ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

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

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

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

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 National Income ND 198.6 216.3 242.6 237.5 263.9 303.8 321.3 338.6 338.7 1

 2 Compensation of employees ND 119.6 130.1 142.0 141.9 155.3 181.4 196.2 210.2 209.2 2

 3 Wages and other labor income ND 114.6 126.1 138.9 138.6 151.9 177.3 192.0 206.1 204.5 3

 4 Employer social insurance contributions ND 5.1 3.9 3.0 3.3 3.4 4.1 4.1 4.2 4.6 4

 5 Wage accruals less disbursements ND -0.0 0.0 0.0 -0.0 0.0 0.1 -0.0 -0.1 0.0 5

 Proprietors’ income with inventory

 6 valuation and capital consumption adjustments ND 35.7 34.5 39.2 34.6 37.5 42.7 43.1 42.0 42.3 6

 Rental income of persons (with capital

 7 consumption adjustment) ND 7.1 7.2 7.8 8.1 9.1 10.0 11.2 12.4 13.4 7

 Corporate profits with inventory

 8 valuation and capital consumption adjustments ND 17.9 23.5 30.9 28.7 35.6 40.8 38.8 39.1 38.3 8

 Corporate profits with inventory

 9 valuation adjustment ND 19.7 26.0 33.7 31.5 38.3 43.6 41.2 40.7 39.0 9

 10 Profits before tax ND 24.9 31.9 35.9 29.6 43.2 44.8 40.2 41.7 39.3 10

 11 Domestic nonfinancial ND 22.0 29.0 31.9 25.2 38.7 39.3 33.9 35.0 32.3 11

 12 Domestic financial ND 2.2 1.9 2.7 3.3 3.3 3.7 4.4 4.8 5.1 12

 13 Rest of the world ND 0.8 1.0 1.3 1.1 1.3 1.7 1.9 1.8 2.0 13

 Less:

 14 Taxes on corporate income ND 9.1 11.3 12.4 10.2 17.9 22.6 19.4 20.3 17.6 14

 15 Domestic nonfinancial ND 8.6 10.8 11.7 9.3 16.8 21.1 17.7 18.4 15.5 15

 16 Domestic financial ND 0.5 0.5 0.7 0.9 1.2 1.5 1.7 1.9 2.1 16

 Equals:

 17 Profits after tax ND 15.8 20.7 23.5 19.4 25.3 22.2 20.8 21.4 21.7 17

 18 Net dividends ND 5.6 6.3 7.0 7.2 8.8 8.6 8.6 8.9 9.3 18

 19 Domestic nonfinancial ND 4.8 5.4 5.9 6.0 7.4 7.0 7.1 7.2 7.4 19

 20 Domestic financial ND 0.3 0.3 0.3 0.4 0.5 0.4 0.4 0.5 0.5 20

 21 Rest of the world ND 0.5 0.7 0.8 0.8 1.0 1.2 1.1 1.1 1.4 21

 22 Undistributed profits ND 10.3 14.4 16.4 12.2 16.5 13.7 12.3 12.5 12.4 22

 23 Domestic nonfinancial ND 8.6 12.9 14.3 9.9 14.5 11.2 9.2 9.4 9.4 23

 24 Domestic financial ND 1.4 1.2 1.7 2.0 1.7 1.9 2.3 2.4 2.5 24

 25 Rest of the world ND 0.3 0.3 0.4 0.3 0.3 0.6 0.8 0.7 0.5 25

 26 Inventory valuation adjustment ND -5.3 -5.9 -2.2 1.9 -5.0 -1.2 1.0 -1.0 -0.3 26

 27 Capital consumption adjustment ND -1.7 -2.6 -2.8 -2.8 -2.6 -2.8 -2.4 -1.6 -0.7 27

 28 Domestic nonfinancial ND -1.6 -2.3 -2.6 -2.5 -2.4 -2.5 -2.1 -1.3 -0.4 28

 29 Domestic financial ND -0.1 -0.2 -0.3 -0.2 -0.3 -0.3 -0.3 -0.3 -0.3 29

 30 Net interest and miscellaneous payments ND 1.9 2.5 2.6 2.9 3.2 3.7 4.1 4.7 5.6 30

 31 Taxes on production and imports ND 16.8 18.1 19.7 20.9 23.0 24.7 27.1 29.1 28.9 31

 32 Less: Subsidies ND 1.6 0.6 0.6 0.7 1.0 1.2 0.9 0.7 0.6 32

 33 Business current transfer payments (net) ND 0.7 0.7 0.7 0.7 0.9 1.2 1.3 1.2 1.0 33

 34 Current surplus of government enterprises 0.0 0.4 0.4 0.3 0.4 0.4 0.5 0.5 0.6 0.7 34

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 35 National Income, from line 1 above ND 198.6 216.3 242.6 237.5 263.9 303.8 321.3 338.6 338.7 35

 Plus:

 36 Private consumption of fixed capital ND 12.3 16.1 18.9 20.5 22.0 25.2 26.7 28.2 29.5 36

 37 Government consumption of fixed capital ND 10.8 10.6 9.6 8.7 7.9 8.6 9.5 10.4 11.1 37

 38 Statistical discrepancy ND 1.2 2.3 -0.5 1.8 1.4 3.6 2.8 4.0 3.1 38

 Less:

 39 Net U.S. income receipts from rest of the world ND 0.7 1.1 1.5 1.3 1.4 1.9 2.0 1.9 2.1 39

 Equals:

 40 Gross Domestic Product ND 222.2 244.1 269.1 267.2 293.7 339.3 358.3 379.3 380.4 40

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

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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Historical Annuals, 1945-1954, June 6, 2013 9

F.8 Saving and Investment by Sector (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving ND 38.4 46.6 58.0 45.6 60.6 75.1 74.2 75.1 73.4 1

 2 Net saving ND 15.3 19.9 29.6 16.4 30.7 41.3 37.9 36.4 32.8 2

 3 Net private saving ND 18.8 13.2 24.7 20.6 23.8 29.1 31.2 31.1 31.2 3

 4 Domestic business ND 3.3 5.9 11.4 11.3 8.9 9.7 10.9 9.9 11.4 4

 5 Nonfinancial corporate business ND 2.3 5.2 10.1 9.6 7.6 8.2 9.0 7.9 9.3 5

 6 Financial business ND 0.9 0.7 1.3 1.6 1.2 1.4 1.8 2.0 2.1 6

 7 Households and institutions ND 15.5 7.3 13.3 9.3 14.9 19.4 20.3 21.2 19.8 7

 8 Net government saving ND -3.5 6.7 4.9 -4.1 6.9 12.2 6.7 5.3 1.5 8

 9 Federal ND -5.0 5.3 3.7 -5.6 5.6 9.7 3.7 1.8 -1.7 9

 10 State and local ND 1.5 1.4 1.2 1.5 1.3 2.6 3.0 3.5 3.2 10

 11 Consumption of fixed capital ND 23.1 26.6 28.5 29.2 29.9 33.8 36.3 38.6 40.6 11

 12 Private ND 12.3 16.1 18.9 20.5 22.0 25.2 26.7 28.2 29.5 12

 13 Domestic business ND 10.3 13.5 15.9 17.3 18.6 21.2 22.4 23.6 24.6 13

 14 Nonfinancial corporate business ND 6.7 8.5 10.0 10.8 11.5 13.1 13.9 14.8 15.6 14

 15 Nonfinancial noncorporate business ND 3.4 4.5 5.4 6.0 6.5 7.4 7.8 8.1 8.3 15

 16 Financial business 0.0 0.3 0.4 0.5 0.5 0.5 0.6 0.6 0.7 0.7 16

 17 Households and institutions ND 2.0 2.6 3.0 3.2 3.5 4.0 4.3 4.6 4.8 17

 18 Government ND 10.8 10.6 9.6 8.7 7.9 8.6 9.5 10.4 11.1 18

 19 Federal ND 9.3 8.8 7.5 6.6 5.8 6.1 6.8 7.6 8.2 19

 20 State and local ND 1.5 1.8 2.1 2.1 2.1 2.6 2.7 2.8 2.9 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs ND 39.6 48.8 57.5 47.4 62.0 78.7 76.9 79.1 76.5 21

 22 Gross domestic investment ND 34.6 39.6 55.1 46.6 63.9 77.8 76.3 80.4 76.3 22

 23 Gross private domestic investment ND 31.1 35.0 48.1 36.9 54.1 60.2 54.0 56.4 53.8 23

 24 Domestic business ND 24.0 21.3 34.2 21.9 34.1 43.2 36.2 37.8 33.4 24

 25 Nonfinancial corporate business ND 17.5 17.5 21.0 12.7 24.8 30.0 23.9 25.0 21.3 25

 26 Nonfinancial noncorporate business ND 6.2 3.1 12.5 8.4 8.4 12.2 11.4 11.7 10.9 26

 27 Financial business ND 0.3 0.7 0.8 0.7 0.9 0.9 0.8 1.1 1.1 27

 28 Households and institutions 0.4 7.1 13.7 13.9 15.0 19.9 17.0 17.8 18.6 20.5 28

 29 Gross government investment ND 3.5 4.6 7.0 9.7 9.8 17.6 22.3 24.0 22.5 29

 30 Federal ND 1.9 1.8 3.0 4.4 3.9 10.7 15.0 16.1 13.3 30

 31 State and local ND 1.6 2.8 4.0 5.3 5.9 7.0 7.3 7.9 9.2 31

 32 Capital account transactions (net) (2) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Private ND 0.8 0.9 1.0 0.7 0.6 0.7 0.8 0.8 0.8 33

 34 Domestic business ND -0.1 -0.1 -0.1 -0.2 -0.3 -0.3 -0.3 -0.3 -0.4 34

 35 Nonfinancial corporate business ND -0.1 -0.1 -0.1 -0.2 -0.3 -0.3 -0.3 -0.3 -0.4 35

 36 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Households and institutions ND 0.9 1.0 1.1 0.9 0.8 0.9 1.1 1.1 1.2 38

 39 Government ND -0.8 -0.9 -1.0 -0.7 -0.6 -0.7 -0.8 -0.8 -0.8 39

 40 Federal ND -0.6 -0.7 -0.6 -0.4 -0.2 -0.3 -0.3 -0.4 -0.3 40

 41 State and local ND -0.2 -0.2 -0.3 -0.3 -0.4 -0.4 -0.5 -0.5 -0.5 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) ND 4.9 9.3 2.4 0.9 -1.8 0.9 0.6 -1.3 0.2 42

 43 Private ND 0.3 -4.4 -6.0 5.3 -7.4 -3.0 5.8 6.1 9.2 43

 44 Domestic business ND -9.2 0.5 -7.3 8.8 -5.0 -8.6 0.1 0.1 6.2 44

 45 Nonfinancial corporate business (3) ND -7.3 -1.4 -1.3 9.8 -4.0 -4.9 2.0 2.1 7.0 45

 46 Nonfinancial noncorporate business ND -2.8 1.4 -7.0 -2.4 -1.9 -4.8 -3.5 -3.6 -2.6 46

 47 Financial business ND 0.9 0.4 1.0 1.4 0.8 1.1 1.6 1.6 1.7 47

 48 Households and institutions ND 9.5 -4.8 1.3 -3.4 -2.4 5.5 5.8 6.0 3.0 48

 49 Government ND 4.6 13.6 8.4 -4.4 5.6 3.9 -5.3 -7.5 -9.0 49

 50 Federal ND 3.0 13.0 8.8 -3.0 7.6 5.4 -4.1 -6.3 -6.4 50

 51 State and local ND 1.6 0.6 -0.4 -1.4 -2.1 -1.5 -1.1 -1.1 -2.6 51

 52 Statistical discrepancy (line 21 less line 1) ND 1.2 2.3 -0.5 1.8 1.4 3.6 2.8 4.0 3.1 52

 Addenda:

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

 54 Private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Domestic business 0.0 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

 57 Government 0.0 0.0 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 58

 59 State and local 0.0 0.0 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.9 and the acquisition of nonproduced nonfinancial assets (net) shown on table F.6.

(3) Differs from net lending or net borrowing (capital account) in the Integrated Macroeconomic Accounts of the United States by the statistical discrepancy (line 52).
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10 Historical Annuals, 1945-1954, June 6, 2013

F.9 Net Capital Transfers (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Capital transfers paid, by sector ND 1.0 1.1 1.3 1.3 1.3 1.4 1.5 1.7 1.7 1

 2 By private business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Financial corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Disaster-related insurance benefits 0.0 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 5

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

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

 8 By government ND 0.1 0.1 0.3 0.4 0.4 0.4 0.5 0.6 0.6 8

 9 Federal ND 0.1 0.1 0.3 0.4 0.4 0.4 0.5 0.6 0.6 9

 10 Investment grants to state and local govts. ND 0.1 0.1 0.3 0.4 0.4 0.4 0.5 0.6 0.6 10

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

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

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

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

 15 Capital transfers paid to the rest of the world (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

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

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

 18 By persons ND 0.9 1.0 1.1 0.9 0.8 0.9 1.1 1.1 1.2 18

 19 Estate and gift taxes, federal ND 0.7 0.8 0.9 0.7 0.6 0.7 0.8 0.9 0.9 19

 20 Estate and gift taxes, state and local ND 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 20

 21 By the rest of the world 0.0 0.0 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 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

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

 24 Capital transfers received, by sector ND 1.0 1.1 1.3 1.3 1.3 1.4 1.5 1.7 1.7 24

 25 By private business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Financial corporations 0.0 0.0 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 27

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

 29 Nonfinancial corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

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

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

 32 Noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

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

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

 35 By government ND 1.0 1.1 1.3 1.3 1.3 1.4 1.5 1.7 1.7 35

 36 Federal ND 0.7 0.8 0.9 0.7 0.6 0.7 0.8 0.9 0.9 36

 37 Estate and gift taxes paid by persons ND 0.7 0.8 0.9 0.7 0.6 0.7 0.8 0.9 0.9 37

 38 State and local ND 0.2 0.3 0.4 0.5 0.6 0.7 0.7 0.8 0.8 38

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

 40 Estate and gift taxes paid by persons ND 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 40

 41 Investment grants paid by federal government ND 0.1 0.1 0.3 0.4 0.4 0.4 0.5 0.6 0.6 41

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

 43 By persons 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

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

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

 46 By the rest of the world ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Capital transfers paid by U.S. government ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

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

 Addenda: Net capital transfers paid by sector

 49 By private business (lines 2-25) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 Financial corporations (lines 3-26) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

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

 52 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 52

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

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

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

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

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

 58 Nonfinancial corporations (lines 6-29) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

 59 Noncorporate business (lines 7-32) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59

 60 By government (lines 8-35) ND -0.9 -1.0 -1.1 -0.9 -0.8 -0.9 -1.1 -1.1 -1.2 60

 61 Federal (lines 9-36) ND -0.6 -0.7 -0.6 -0.4 -0.2 -0.3 -0.3 -0.4 -0.3 61

 62 State and local (lines 16-38) ND -0.2 -0.3 -0.4 -0.5 -0.6 -0.7 -0.7 -0.8 -0.8 62

 63 By persons (lines 18-43) ND 0.9 1.0 1.1 0.9 0.8 0.9 1.1 1.1 1.2 63

 64 By the rest of the world (lines 21-46) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 64

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

(2) Sum of lines 53, 55, 56, and 57 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Flow of Funds Accounts.
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Historical Annuals, 1945-1954, June 6, 2013 11

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

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net acquisition of financial assets ND 19.8 12.4 8.7 8.6 14.7 19.3 30.0 24.9 21.3 1

 2 Foreign deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Checkable deposits and currency ND 5.8 0.0 -2.8 -1.9 2.8 4.9 1.7 1.1 2.5 3

 4 Time and savings deposits ND 6.3 3.5 2.2 2.6 2.4 5.0 7.5 8.2 9.3 4

 5 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Securities ND -1.0 1.1 2.1 1.0 2.0 1.7 8.3 4.9 -0.8 6

 7 Open market paper ND 0.1 0.0 0.1 0.1 0.1 0.3 0.2 0.3 -0.2 7

 8 U.S. savings bonds ND 1.2 2.1 1.6 1.5 0.3 -0.5 0.1 0.2 0.6 8

 9 Treasury bills and other Treasury securities ND -2.6 -2.1 -0.8 -0.0 -1.0 -0.6 1.9 0.5 -2.5 9

 10 Agency- and GSE-backed securities ND 0.0 0.1 -0.1 -0.1 0.1 -0.0 -0.1 0.2 -0.0 10

 11 Municipal securities ND -0.1 0.6 0.2 -0.9 1.7 0.3 5.2 2.9 2.1 11

 12 Corporate and foreign bonds ND -0.9 -0.8 0.0 -0.4 -0.3 0.3 -0.3 -0.0 -1.1 12

 13 Corporate equities (2) ND 1.0 1.1 0.9 0.6 0.8 1.5 0.8 0.6 -0.0 13

 14 Mutual fund shares ND 0.2 0.2 0.1 0.3 0.3 0.4 0.5 0.4 0.4 14

 15 Life insurance reserves ND 3.8 3.2 2.8 2.8 2.9 2.7 2.9 3.0 2.7 15

 16 Pension fund reserves ND 1.2 2.2 2.4 2.7 2.0 3.3 5.8 5.3 5.6 16

 17 Miscellaneous and other assets ND 3.7 2.5 2.0 1.4 2.7 1.6 3.8 2.4 2.0 17

 18 Gross investment in nonfinancial assets ND 27.8 38.8 49.7 50.3 59.8 57.9 58.6 63.4 64.0 18

 19 Residential fixed investment ND 7.8 12.0 15.5 14.5 20.4 18.3 18.5 19.3 21.0 19

 20 Nonresidential fixed investment ND 5.5 6.5 8.0 9.6 7.7 9.4 9.3 10.3 10.3 20

 21 Consumer durables 7.3 14.5 22.0 23.4 26.8 31.5 28.7 29.4 33.1 32.6 21

 22 Nonproduced nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Inventories ND 0.1 -1.7 2.8 -0.7 0.2 1.4 1.5 0.8 0.1 23

 24 Consumption of fixed capital ND 15.1 18.5 24.6 26.3 30.0 34.8 35.6 37.0 39.7 24

 25 Residential fixed investment ND 2.6 3.6 4.0 4.1 4.6 5.1 5.3 5.5 5.8 25

 26 Nonresidential fixed investment ND 2.9 3.4 4.4 5.0 5.3 6.3 6.9 7.2 7.4 26

 27 Consumer durables 14.1 9.6 11.4 16.3 17.2 20.0 23.4 23.4 24.3 26.5 27

 28 Net investment in nonfinancial assets (3) ND 12.8 20.3 25.1 23.9 29.9 23.0 23.0 26.4 24.3 28

 29 Residential fixed investment ND 5.2 8.4 11.6 10.4 15.8 13.2 13.2 13.8 15.2 29

 30 Nonresidential fixed investment ND 2.6 3.1 3.6 4.6 2.4 3.1 2.3 3.1 2.8 30

 31 Consumer durables -6.8 4.9 10.6 7.1 9.6 11.4 5.3 6.0 8.8 6.1 31

 32 Nonproduced nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Inventories ND 0.1 -1.7 2.8 -0.7 0.2 1.4 1.5 0.8 0.1 33

 34 Net increase in liabilities ND 10.2 11.8 11.0 9.9 17.9 12.3 15.4 14.0 16.7 34

 35 Home mortgages ND 4.4 5.2 5.1 4.3 7.6 6.5 6.7 7.5 9.4 35

 36 Other mortgages ND 1.0 0.8 1.2 1.5 2.1 2.3 2.1 1.6 2.3 36

 37 Consumer credit ND 3.0 3.5 3.0 3.0 4.6 1.4 5.2 4.1 1.3 37

 38 Policy loans ND -0.1 0.0 0.1 0.2 0.2 0.2 0.1 0.2 0.2 38

 39 Security credit ND -0.7 0.0 -0.0 0.4 0.5 -0.1 0.1 0.4 0.8 39

 40 Other liabilities ND 2.6 2.2 1.5 0.5 2.9 2.0 1.2 0.2 2.7 40

 41 Net capital transfers paid (4) ND 0.9 1.0 1.1 0.9 0.8 0.9 1.1 1.1 1.2 41

 42 Personal saving, FOF concept (FOF) ND 23.2 21.9 23.8 23.5 27.6 31.0 38.7 38.5 30.0 42

 43 - Net investment in consumer durables -6.8 4.9 10.6 7.1 9.6 11.4 5.3 6.0 8.8 6.1 43

 44 - Government insurance and pension fund reserves (5) ND 1.3 1.1 0.6 0.6 0.5 0.3 0.4 0.3 -0.2 44

 45 = Personal saving, NIPA concept (FOF) (6) ND 17.1 10.2 16.1 13.3 15.6 25.4 32.3 29.3 24.0 45

 46 Personal saving, NIPA concept (NIPA) ND 15.5 7.3 13.2 9.4 14.9 19.3 20.3 21.3 19.8 46

 47 Difference ND 1.5 3.0 2.8 4.0 0.6 6.1 11.9 8.0 4.2 47

 Memo:

 48 Disposable personal income ND 161.4 171.1 190.5 190.2 209.9 230.8 243.2 258.4 264.1 48

 Personal saving as a percentage of disposable personal income:

 49 FOF concept (FOF data) (line 42) ND 14.4 12.8 12.5 12.4 13.1 13.4 15.9 14.9 11.4 49

 50 NIPA concept (FOF data) (line 45) ND 10.6 6.0 8.4 7.0 7.4 11.0 13.3 11.3 9.1 50

 51 NIPA concept (NIPA data) (line 46) ND 9.6 4.2 6.9 4.9 7.1 8.4 8.4 8.2 7.5 51

 52 Difference (line 47) ND 0.9 1.7 1.5 2.1 0.3 2.6 4.9 3.1 1.6 52

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

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

(3) Line 18 less line 24.

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

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

(6) Line 45 and 46 are conceptually equivalent but measure saving using different data. Line 45 is net acquisition of financial assets net of government insurance and pension fund reserves (line 1 less line 44) plus

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

 personal outlays (table F.100, line 4).
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12 Historical Annuals, 1945-1954, June 6, 2013

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

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 389.7 400.2 409.0 415.5 432.5 471.4 511.5 541.1 559.8 635.5 1

 2 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Checkable deposits and currency 72.4 78.2 78.2 75.4 73.5 76.3 81.2 82.9 84.0 86.5 3

 4 Time and savings deposits 50.2 56.6 60.0 62.2 64.8 67.2 72.2 79.7 87.9 97.2 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Securities 189.8 179.4 177.0 176.9 186.3 211.7 233.9 240.3 239.2 293.1 6

 7 Open market paper 0.0 0.1 0.1 0.2 0.3 0.4 0.8 1.0 1.3 1.1 7

 8 U.S. savings bonds 42.9 44.2 46.2 47.8 49.3 49.6 49.1 49.2 49.4 50.0 8

 9 Treasury bills and other Treasury securities 23.6 21.0 18.8 18.0 18.0 16.9 16.3 18.2 18.7 16.1 9

 10 Agency- and GSE-backed securities 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.0 0.2 0.1 10

 11 Municipal securities 3.9 3.8 4.5 4.6 3.7 5.5 5.7 11.0 13.9 16.0 11

 12 Corporate and foreign bonds 8.4 7.5 6.6 6.7 6.3 6.0 6.3 6.0 6.0 4.9 12

 13 Corporate equities (2) 109.7 101.6 99.2 98.0 105.6 129.8 152.1 151.0 145.8 198.8 13

 14 Mutual fund shares 1.2 1.3 1.4 1.5 3.1 3.3 3.5 3.9 4.1 6.1 14

 15 Life insurance reserves 39.6 43.4 46.5 49.4 52.1 55.0 57.8 60.7 63.6 66.3 15

 16 Pension fund reserves 12.0 13.3 15.4 17.8 20.5 23.2 26.8 33.5 38.5 43.9 16

 17 Life insurance companies 2.7 3.1 3.6 4.2 4.8 5.6 6.6 7.7 8.8 10.0 17

 18 Private pension funds 3.8 4.0 4.5 5.0 5.5 6.0 7.1 10.7 12.8 15.0 18

 19 Governments 5.5 6.1 7.3 8.6 10.1 11.6 13.1 15.1 16.9 18.8 19

 20 Miscellaneous and other assets 25.7 29.4 31.9 33.9 35.3 38.0 39.6 44.0 46.5 48.5 20

 21 Total liabilities 45.5 56.6 68.4 79.5 89.4 107.3 119.5 134.9 149.0 165.7 21

 22 Home mortgages 18.7 23.1 28.2 33.4 37.7 45.3 51.7 58.4 66.0 75.3 22

 23 Other mortgages 8.6 9.6 10.4 11.6 13.1 15.2 17.6 19.7 21.3 23.6 23

 24 Consumer credit 6.8 9.8 13.3 16.3 19.4 23.9 25.4 30.5 34.6 36.0 24

 25 Policy loans 2.1 2.0 2.1 2.2 2.4 2.6 2.8 2.9 3.1 3.4 25

 26 Security credit 1.2 0.6 0.6 0.6 0.9 1.5 1.4 1.5 1.8 2.6 26

 27 Other liabilities 8.1 11.6 13.8 15.4 15.9 18.8 20.7 22.0 22.2 24.9 27

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual funds (line 14) and life insurance and pension reserves (lines 15, 16, 17, and 18).
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Historical Annuals, 1945-1954, June 6, 2013 13

F.100 Households and Nonprofit Organizations (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Personal income ND 178.6 190.9 209.7 207.0 228.9 257.9 275.2 291.7 294.3 1

 2 - Personal current taxes ND 17.2 19.8 19.2 16.7 18.9 27.1 32.0 33.2 30.2 2

 3 = Disposable personal income ND 161.4 171.1 190.5 190.2 209.9 230.8 243.2 258.4 264.1 3

 4 - Personal outlays ND 145.9 163.8 177.3 180.9 195.0 211.5 222.9 237.1 244.3 4

 5 = Personal saving, NIPA (2) ND 15.5 7.3 13.2 9.4 14.9 19.3 20.3 21.3 19.8 5

 6 + Government insurance and pension reserves (3) ND 1.3 1.1 0.6 0.6 0.5 0.3 0.4 0.3 -0.2 6

 7 + Net investment in consumer durables -6.8 4.9 10.6 7.1 9.6 11.4 5.3 6.0 8.8 6.1 7

 8 + Consumption of fixed capital 17.0 11.6 14.2 19.4 20.5 23.7 27.6 27.7 28.9 31.3 8

 9 - Net capital transfers paid (4) ND 0.9 1.0 1.1 0.9 0.8 0.9 1.1 1.1 1.2 9

 10 = Gross saving less net capital transfers paid ND 32.4 32.2 39.3 39.1 49.8 51.5 53.4 58.2 56.0 10

 11 Gross investment ND 33.9 35.1 42.1 43.1 50.4 57.6 65.4 66.2 60.2 11

 12 Capital expenditures 7.8 21.6 35.7 37.3 41.8 51.4 45.6 47.2 51.8 53.1 12

 13 Residential -0.0 6.6 13.0 12.7 13.8 18.2 15.2 16.1 16.8 18.3 13

 14 Consumer durable goods 7.3 14.5 22.0 23.4 26.8 31.5 28.7 29.4 33.1 32.6 14

 15 Nonprofit nonresidential 0.4 0.5 0.7 1.1 1.2 1.8 1.8 1.7 1.9 2.2 15

 16 Nonproduced nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Net lending (+) or net borrowing (-) ND 12.3 -0.6 4.8 1.3 -1.0 12.0 18.1 14.5 7.1 17

 18 Net acquisition of financial assets ND 19.2 8.5 13.4 9.5 12.5 20.7 30.4 27.2 19.5 18

 19 Foreign deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Checkable deposits and currency ND 5.2 -0.1 -2.4 -1.8 2.6 4.4 2.2 1.3 2.1 20

 21 Time and savings deposits ND 6.3 3.5 2.2 2.6 2.4 5.0 7.5 8.2 9.3 21

 22 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Credit market instruments ND -0.7 1.2 2.2 0.9 1.6 0.7 7.7 5.0 -0.1 23

 24 Open market paper ND 0.1 0.0 0.1 0.1 0.1 0.3 0.2 0.3 -0.2 24

 25 Treasury securities ND -1.4 -0.1 0.8 1.4 -0.8 -1.1 2.0 0.6 -2.0 25

 26 Savings bonds ND 1.2 2.1 1.6 1.5 0.3 -0.5 0.1 0.2 0.6 26

 27 Other ND -2.6 -2.1 -0.8 -0.0 -1.0 -0.6 1.9 0.5 -2.5 27

 28 Agency- and GSE-backed securities ND 0.0 0.1 -0.1 -0.1 0.1 -0.0 -0.1 0.2 -0.0 28

 29 Municipal securities ND -0.1 0.6 0.2 -0.9 1.7 0.3 5.2 2.9 2.1 29

 30 Corporate and foreign bonds ND -0.9 -0.8 0.0 -0.4 -0.3 0.3 -0.3 -0.0 -1.1 30

 31 Other loans and advances (5) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Mortgages ND 1.5 1.4 1.2 0.7 0.7 0.9 0.7 1.0 1.1 32

 33 Corporate equities (6) ND 1.0 1.1 0.9 0.6 0.8 1.5 0.8 0.6 -0.0 33

 34 Mutual fund shares ND 0.2 0.2 0.1 0.3 0.3 0.4 0.5 0.4 0.4 34

 35 Security credit ND 0.0 -0.1 -0.0 0.0 0.3 -0.1 -0.2 -0.0 0.3 35

 36 Life insurance reserves ND 3.8 3.2 2.8 2.8 2.9 2.7 2.9 3.0 2.7 36

 37 Pension fund reserves ND 1.2 2.2 2.4 2.7 2.0 3.3 5.8 5.3 5.6 37

 38 Equity in noncorporate business ND 1.3 -3.1 4.7 1.1 -0.6 2.0 2.5 2.9 -1.1 38

 39 Miscellaneous assets ND 0.8 0.5 0.4 0.4 0.3 0.6 0.7 0.6 0.4 39

 40 Net increase in liabilities ND 6.9 9.0 8.6 8.3 13.5 8.7 12.3 12.7 12.4 40

 41 Credit market instruments ND 7.3 8.8 8.5 7.8 12.8 8.6 12.0 12.2 11.5 41

 42 Home mortgages (7) ND 4.4 5.2 5.1 4.3 7.6 6.5 6.7 7.5 9.4 42

 43 Consumer credit ND 3.0 3.5 3.0 3.0 4.6 1.4 5.2 4.1 1.3 43

 44 Municipal securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Depository institution loans n.e.c. (8) ND -0.1 -0.0 -0.1 -0.0 0.2 0.2 -0.2 0.1 0.2 45

 46 Other loans and advances ND -0.1 0.0 0.1 0.2 0.2 0.2 0.1 0.2 0.2 46

 47 Commercial mortgages ND 0.1 0.1 0.2 0.2 0.3 0.3 0.3 0.3 0.3 47

 48 Security credit ND -0.7 0.0 -0.0 0.4 0.5 -0.1 0.1 0.4 0.8 48

 49 Trade payables ND 0.2 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.1 49

 Deferred and unpaid

 50 life insurance premiums ND 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 50

 51 Discrepancy ND -1.5 -3.0 -2.8 -4.0 -0.6 -6.1 -11.9 -8.0 -4.2 51

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end

 outstandings of nonprofit organizations.

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

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

(4) Table F.9, line 63.

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

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

(7) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table F.218, line 23.

(8) 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.108, line 21.
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14 Historical Annuals, 1945-1954, June 6, 2013

F.101 Nonfinancial Business (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Income before taxes ND 61.8 67.8 75.7 64.3 81.0 87.2 82.3 82.5 80.0 1

 2 Gross saving less net capital transfers paid ND 12.1 17.8 25.2 26.2 25.2 28.4 30.7 30.8 33.1 2

 3 Gross investment ND 8.2 16.3 21.6 21.5 23.7 30.0 29.9 29.5 30.1 3

 4 Capital expenditures ND 23.7 20.5 33.4 20.9 32.9 42.0 35.1 36.4 31.9 4

 5 Fixed investment ND 17.7 21.2 27.8 23.8 27.4 32.4 31.8 34.7 34.2 5

 6 Residential ND 1.2 -0.9 2.9 0.8 2.4 3.3 2.5 2.6 2.8 6

 7 Nonresidential ND 16.5 22.1 24.9 23.0 25.0 29.1 29.4 32.1 31.4 7

 8 Change in inventories ND 6.0 -0.6 5.7 -2.7 5.8 9.9 3.5 1.9 -1.9 8

 9 Nonproduced nonfinancial assets ND -0.1 -0.1 -0.1 -0.2 -0.3 -0.3 -0.3 -0.3 -0.4 9

 10 Net lending (+) or net borrowing (-) ND -15.5 -4.2 -11.8 0.6 -9.2 -12.0 -5.2 -6.9 -1.8 10

 11 Net acquisition of financial assets ND 0.3 9.6 5.4 4.1 18.4 8.7 7.5 3.6 6.1 11

 12 Foreign deposits ND 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 12

 13 Checkable deposits and currency ND 1.2 2.1 -0.1 0.9 1.5 2.1 0.3 -0.3 2.2 13

 14 Time and savings deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 14

 15 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Security RPs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Credit market instruments ND -5.0 0.6 1.6 2.6 4.5 1.7 0.3 2.2 -1.3 17

 18 Commercial paper ND 0.0 0.1 0.1 0.1 -0.1 -0.1 0.1 0.0 0.1 18

 19 Treasury securities ND -5.7 -0.5 0.6 1.8 3.2 0.8 -1.0 1.6 -1.7 19

 20 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Municipal securities ND 0.1 0.0 0.1 0.0 0.2 0.2 -0.0 0.2 -0.0 21

 22 Mortgages ND 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 22

 23 Consumer credit ND 0.6 0.9 0.9 0.6 1.3 0.7 1.3 0.4 0.3 23

 24 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Trade receivables ND 3.8 5.3 2.1 -0.9 11.0 3.3 4.8 -0.5 3.3 25

 26 Miscellaneous assets ND 0.4 1.6 1.8 1.5 1.3 1.6 2.1 2.1 1.7 26

 27 Net increase in liabilities ND 15.8 13.8 17.2 3.5 27.6 20.7 12.7 10.5 7.9 27

 28 Credit market instruments ND 7.1 8.6 7.5 3.0 9.1 11.7 8.8 4.8 6.0 28

 29 Commercial paper ND 0.0 0.0 -0.0 -0.0 0.0 0.1 0.1 0.1 0.1 29

 30 Municipal securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Corporate bonds ND 1.0 2.8 4.3 2.9 1.6 3.3 4.7 3.5 3.5 31

 32 Depository institution loans n.e.c. ND 4.4 3.7 0.8 -2.0 4.5 5.0 1.2 -1.1 -0.5 32

 33 Other loans and advances ND 0.0 0.2 0.4 0.2 0.6 0.7 0.7 0.2 0.4 33

 34 Mortgages ND 1.7 1.9 2.0 1.9 2.3 2.6 2.1 2.0 2.5 34

 35 Corporate equities ND 1.0 1.1 1.0 1.2 1.3 2.1 2.3 1.8 1.6 35

 36 Trade payables ND 7.8 4.4 2.7 0.0 9.2 -0.0 1.3 0.1 3.8 36

 37 Taxes payable ND -2.0 2.2 0.8 -2.3 7.3 4.5 -3.2 0.6 -3.2 37

 38 Miscellaneous liabilities ND 0.5 0.6 0.6 0.5 1.3 0.4 0.9 0.4 0.9 38

 39 Proprietors’ net investment ND 1.3 -3.1 4.7 1.1 -0.6 2.0 2.5 2.9 -1.1 39

 40 Discrepancy ND 4.0 1.4 3.7 4.7 1.5 -1.6 0.8 1.3 3.1 40

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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Historical Annuals, 1945-1954, June 6, 2013 15

F.102 Nonfinancial Corporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Profits before tax (book) ND 22.0 29.0 31.9 25.2 38.7 39.3 33.9 35.0 32.3 1

 2 - Taxes on corporate income ND 8.6 10.8 11.7 9.3 16.8 21.1 17.7 18.4 15.5 2

 3 - Net dividends ND 4.8 5.4 5.9 6.0 7.4 7.0 7.1 7.2 7.4 3

 4 + Capital consumption allowance (1) ND 5.1 6.2 7.4 8.3 9.1 10.6 11.8 13.5 15.2 4

 5 = U.S. internal funds, book ND 13.7 19.1 21.7 18.2 23.7 21.8 21.0 23.0 24.5 5

 6 + Foreign earnings retained abroad ND 0.3 0.3 0.4 0.3 0.3 0.6 0.8 0.6 0.5 6

 7 + Inventory valuation adjustment (IVA) ND -5.3 -5.9 -2.2 1.9 -5.0 -1.2 1.0 -1.0 -0.3 7

 8 - Net capital transfers paid (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 = Total internal funds + IVA ND 8.7 13.5 20.0 20.3 19.0 21.2 22.8 22.6 24.8 9

 10 Gross investment ND 4.7 12.1 16.3 15.6 17.4 22.8 22.0 21.4 21.7 10

 11 Capital expenditures ND 17.4 17.4 20.9 12.5 24.5 29.8 23.7 24.7 21.0 11

 12 Fixed investment (3) ND 11.6 16.4 18.1 14.7 19.2 21.5 21.9 23.8 23.4 12

 13 Inventory change + IVA ND 5.9 1.1 2.9 -2.0 5.6 8.5 2.1 1.2 -2.0 13

 14 Nonproduced nonfinancial assets ND -0.1 -0.1 -0.1 -0.2 -0.3 -0.3 -0.3 -0.3 -0.4 14

 15 Net lending (+) or net borrowing (-) ND -12.7 -5.4 -4.6 3.1 -7.1 -7.0 -1.7 -3.3 0.7 15

 16 Net acquisition of financial assets ND -1.6 8.8 5.4 3.9 16.8 8.0 5.4 3.0 5.5 16

 17 Foreign deposits ND 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 17

 18 Checkable deposits and currency ND 0.6 2.0 0.4 1.0 1.3 1.6 0.8 -0.1 1.8 18

 19 Time and savings deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 19

 20 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Security RPs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Credit market instruments ND -5.1 0.5 1.5 2.5 4.3 1.5 -1.1 2.1 -1.3 22

 23 Commercial paper ND 0.0 0.1 0.1 0.1 -0.1 -0.1 0.1 0.0 0.1 23

 24 Treasury securities ND -5.7 -0.5 0.6 1.8 3.2 0.8 -1.0 1.6 -1.7 24

 25 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Municipal securities ND 0.1 0.0 0.1 0.0 0.2 0.2 -0.0 0.2 -0.0 26

 27 Mortgages ND 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 27

 28 Consumer credit ND 0.5 0.8 0.8 0.6 1.1 0.6 -0.2 0.3 0.3 28

 29 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Trade receivables ND 2.8 5.0 2.0 -1.0 9.9 3.4 3.9 -0.8 3.4 30

 31 Miscellaneous assets ND 0.2 1.4 1.5 1.3 1.1 1.4 1.8 1.9 1.4 31

 32 U.S. direct investment abroad (4) ND 0.2 0.7 0.7 0.6 0.6 0.5 0.8 0.7 0.6 32

 33 Insurance receivables ND 0.3 0.3 0.2 0.2 0.0 0.1 0.1 0.1 0.1 33

 34 Equity in GSEs ND -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Investment in finance co. subs. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Other ND -0.3 0.4 0.6 0.5 0.5 0.8 0.9 1.1 0.7 36

 37 Net increase in liabilities ND 11.1 14.1 10.1 0.8 23.8 15.0 7.1 6.3 4.8 37

 38 Net funds raised in markets ND 6.3 8.0 7.2 2.8 7.3 10.5 8.6 5.6 5.1 38

 39 Net new equity issues ND 1.0 1.1 1.0 1.2 1.3 2.1 2.3 1.8 1.6 39

 40 Credit market instruments ND 5.3 6.9 6.2 1.6 6.0 8.4 6.3 3.9 3.5 40

 41 Commercial paper ND 0.0 0.0 -0.0 -0.0 0.0 0.1 0.1 0.1 0.1 41

 42 Municipal securities (5) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Corporate bonds (4) ND 1.0 2.8 4.3 2.9 1.6 3.3 4.7 3.5 3.5 43

 44 Depository institution loans n.e.c. ND 3.6 3.1 0.7 -1.9 3.6 4.2 0.8 -0.6 -0.8 44

 45 Other loans and advances (6) ND -0.1 -0.2 0.1 -0.1 0.2 0.3 0.4 0.2 0.1 45

 46 Mortgages ND 0.8 1.2 1.0 0.6 0.5 0.6 0.2 0.7 0.5 46

 47 Trade payables ND 6.4 3.4 1.6 -0.3 8.0 -0.4 0.8 -0.3 2.0 47

 48 Taxes payable ND -2.0 2.2 0.8 -2.3 7.3 4.5 -3.2 0.6 -3.2 48

 49 Miscellaneous liabilities ND 0.5 0.6 0.6 0.5 1.3 0.4 0.9 0.4 0.9 49

 50 Foreign direct investment in U.S. ND -0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 50

 51 Pension fund contributions payable ND 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0 51

 52 Other ND 0.5 0.6 0.5 0.4 1.3 0.3 0.7 0.3 0.8 52

 53 Discrepancy ND 4.0 1.4 3.7 4.7 1.5 -1.6 0.8 1.3 3.1 53

 Memo:

 54 Financing gap (7) ND 9.0 4.2 1.4 -7.5 5.8 9.2 1.7 2.7 -3.3 54

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

(2) Table F.9, line 58.

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

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

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

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

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
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16 Historical Annuals, 1945-1954, June 6, 2013

F.103 Nonfinancial Noncorporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving = consumption of fixed capital ND 3.5 4.3 5.3 5.9 6.3 7.3 7.9 8.1 8.4 1

 2 Gross saving less net capital transfers paid (1) ND 3.5 4.3 5.3 5.9 6.3 7.3 7.9 8.1 8.4 2

 3 Gross investment ND 3.5 4.3 5.3 5.9 6.3 7.3 7.9 8.1 8.4 3

 4 Capital expenditures ND 6.2 3.1 12.5 8.4 8.4 12.2 11.4 11.7 10.9 4

 5 Fixed investment (2) ND 6.1 4.8 9.7 9.1 8.2 10.8 9.9 10.9 10.8 5

 6 Change in inventories ND 0.1 -1.7 2.8 -0.7 0.2 1.4 1.5 0.8 0.1 6

 7 Net lending (+) or net borrowing (-) ND -2.8 1.2 -7.2 -2.6 -2.1 -5.0 -3.5 -3.6 -2.5 7

 8 Net acquisition of financial assets ND 1.9 0.8 -0.1 0.2 1.6 0.7 2.1 0.6 0.6 8

 9 Checkable deposits and currency ND 0.6 0.2 -0.5 -0.1 0.2 0.5 -0.5 -0.2 0.4 9

 10 Time and savings deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit market instruments ND 0.1 0.1 0.1 0.1 0.2 0.1 1.4 0.1 0.0 12

 13 Treasury securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Municipal securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Consumer credit ND 0.1 0.1 0.1 0.1 0.2 0.1 1.4 0.1 0.0 16

 17 Trade receivables ND 1.0 0.3 0.1 0.1 1.1 -0.1 0.9 0.4 -0.1 17

 18 Miscellaneous assets ND 0.2 0.2 0.2 0.2 0.1 0.2 0.3 0.3 0.3 18

 19 Insurance receivables ND 0.2 0.3 0.2 0.2 0.1 0.2 0.3 0.3 0.3 19

 20 Equity investment in GSEs (3) ND -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Other ND 0.0 -0.0 0.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 21

 22 Net increase in liabilities ND 4.7 -0.3 7.1 2.7 3.8 5.7 5.6 4.1 3.2 22

 23 Credit market instruments ND 1.9 1.7 1.3 1.4 3.1 3.3 2.5 0.9 2.6 23

 24 Depository institution loans n.e.c. ND 0.8 0.6 0.0 -0.1 0.9 0.8 0.4 -0.5 0.2 24

 25 Other loans and advances ND 0.1 0.4 0.3 0.3 0.4 0.5 0.3 0.1 0.3 25

 26 Mortgages ND 0.9 0.7 1.0 1.2 1.8 2.0 1.8 1.3 2.0 26

 27 Trade payables ND 1.5 1.0 1.1 0.3 1.3 0.3 0.6 0.4 1.7 27

 28 Taxes payable ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Miscellaneous liabilities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Proprietors’ net investment ND 1.3 -3.1 4.7 1.1 -0.6 2.0 2.5 2.9 -1.1 30

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

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

(3) Equity in the Farm Credit System.
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Historical Annuals, 1945-1954, June 6, 2013 17

F.104 State and Local Governments (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Current receipts, NIPA basis ND 12.6 14.9 16.8 18.3 20.0 21.9 23.7 25.5 26.9 1

 2 Personal current taxes ND 0.9 1.0 1.1 1.4 1.5 1.7 1.8 1.9 2.1 2

 3 Taxes on production and imports ND 9.1 10.4 11.9 13.0 14.2 15.6 17.0 18.4 19.4 3

 4 Taxes on corporate income ND 0.5 0.6 0.7 0.6 0.8 0.9 0.8 0.8 0.8 4

 5 Contributions for govt. social insurance ND 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 5

 6 Income receipts on assets 0.0 0.4 0.4 0.5 0.5 0.5 0.6 0.7 0.7 0.8 6

 7 Current transfer receipts ND 1.2 1.8 2.0 2.2 2.3 2.5 2.6 2.8 2.9 7

 8 Current surplus of government enterprises 0.0 0.4 0.4 0.3 0.4 0.4 0.5 0.5 0.6 0.7 8

 9 Current expenditures, NIPA basis ND 11.2 13.5 15.5 16.8 18.6 19.4 20.7 22.0 23.7 9

 10 Consumption expenditures ND 9.2 10.9 12.3 13.7 14.9 16.1 17.1 18.2 19.7 10

 11 Govt. social benefit payments to persons ND 1.5 2.0 2.7 2.7 3.2 2.6 2.9 3.0 3.1 11

 12 Interest payments 0.0 0.5 0.5 0.5 0.5 0.6 0.6 0.7 0.8 0.9 12

 13 Subsidies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 - Wage accruals less disbursements ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net saving, NIPA basis ND 1.5 1.4 1.2 1.5 1.3 2.6 3.0 3.5 3.2 15

 16 + Consumption of fixed capital ND 1.5 1.8 2.1 2.1 2.1 2.6 2.7 2.8 2.9 16

 17 - Net capital transfers paid (2) ND -0.2 -0.3 -0.4 -0.5 -0.6 -0.7 -0.7 -0.8 -0.8 17

 18 = Gross saving less net capital transfers paid ND 3.3 3.6 3.8 4.1 4.1 5.8 6.4 7.1 7.0 18

 19 Gross investment ND 2.0 3.5 4.1 5.2 3.6 6.0 1.8 4.3 5.5 19

 20 Fixed investment ND 1.6 2.8 4.0 5.3 5.9 7.0 7.3 7.9 9.2 20

 21 Nonproduced nonfinancial assets 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.3 0.3 0.4 21

 22 Net lending (+) or net borrowing (-) ND 0.4 0.5 -0.1 -0.4 -2.6 -1.2 -5.8 -3.9 -4.1 22

 23 Net acq. of financial assets ND 0.6 2.0 1.5 0.7 2.1 1.5 1.9 1.6 1.8 23

 24 Checkable deposits and currency ND 0.9 0.7 0.5 0.2 0.5 0.4 0.3 0.4 0.4 24

 25 Time and savings deposits ND 0.2 0.2 0.3 0.2 0.1 0.2 0.1 0.3 0.5 25

 26 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Security RPs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.2 -0.1 -0.0 27

 28 Credit market instruments ND -0.7 0.7 0.7 0.5 0.7 0.8 1.5 1.0 0.9 28

 29 Open market paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Treasury securities ND -0.4 0.7 0.4 0.1 0.5 0.5 1.2 0.8 0.4 30

 31 Agency- and GSE-backed securities 0.0 -0.1 0.0 0.2 0.0 -0.1 0.2 0.2 -0.1 0.1 31

 32 Municipal securities ND -0.3 -0.0 0.0 0.3 0.3 0.0 0.1 0.2 0.2 32

 33 Corporate and foreign bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Mortgages ND 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 34

 35 Corporate equities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Trade receivables ND 0.1 0.2 0.1 -0.0 0.5 0.2 0.1 0.0 0.2 37

 38 Taxes receivable ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.0 38

 39 Miscellaneous assets ND 0.1 0.2 -0.0 -0.1 0.4 -0.1 -0.4 0.0 -0.1 39

 40 Net increase in liabilities ND 0.2 1.5 1.5 1.1 4.7 2.7 7.7 5.5 5.9 40

 41 Credit market instruments ND 0.0 1.6 1.4 0.9 4.6 2.4 7.2 5.0 5.3 41

 42 Municipal securities ND 0.1 1.6 1.3 1.0 4.5 2.1 6.9 5.4 5.7 42

 43 Short-term (3) ND 0.0 0.2 0.2 0.2 0.4 0.3 0.2 0.2 0.1 43

 44 Long-term ND 0.1 1.4 1.2 0.8 4.1 1.8 6.7 5.2 5.5 44

 45 U.S. government loans ND -0.0 0.0 0.1 -0.1 0.1 0.3 0.3 -0.4 -0.3 45

 46 Trade payables ND 0.1 -0.1 0.1 0.2 0.1 0.3 0.5 0.5 0.6 46

 47 Discrepancy ND 1.2 0.1 -0.3 -1.0 0.5 -0.2 4.7 2.8 1.5 47

(1) Data for retirement funds are shown in table F.117.

(2) Table F.9, line 62.

(3) Debt with original maturity of 13 months or less.
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18 Historical Annuals, 1945-1954, June 6, 2013

F.105 Federal Government

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Current receipts, NIPA basis ND 39.5 42.8 42.4 37.9 48.8 62.9 65.8 68.6 62.5 1

 2 Personal current taxes ND 16.4 18.8 18.1 15.4 17.4 25.4 30.2 31.3 28.1 2

 3 Taxes on production and imports ND 7.7 7.7 7.8 7.9 8.7 9.2 10.1 10.7 9.5 3

 4 Taxes on corporate income ND 8.6 10.7 11.8 9.6 17.2 21.7 18.6 19.5 16.9 4

 5 Taxes from the rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Contributions for govt. social insurance ND 6.5 5.4 4.4 4.7 5.3 6.4 6.7 6.8 7.8 6

 7 Income receipts on assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Current transfer receipts 0.0 0.3 0.3 0.3 0.3 0.2 0.3 0.3 0.3 0.3 8

 9 Current surplus of government enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Current expenditures, NIPA basis ND 44.4 37.5 38.7 43.5 43.2 53.2 62.1 66.8 64.2 10

 11 Consumption expenditures ND 26.9 20.8 21.2 23.3 22.0 34.4 44.2 48.3 43.9 11

 12 Government social benefits ND 8.7 8.4 7.2 8.2 10.2 7.9 8.1 8.7 10.7 12

 13 Other current transfer payments 0.0 3.3 3.6 5.6 7.0 5.5 5.2 4.3 4.3 4.2 13

 14 Interest payments 0.0 4.0 4.1 4.2 4.3 4.5 4.6 4.6 4.7 4.8 14

 15 Subsidies ND 1.6 0.6 0.6 0.7 1.0 1.2 0.9 0.7 0.6 15

 16 - Wage accruals less disbursements ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.0 16

 17 Net saving, NIPA basis ND -5.0 5.3 3.7 -5.6 5.6 9.7 3.7 1.8 -1.7 17

 18 + Consumption of fixed capital ND 9.3 8.8 7.5 6.6 5.8 6.1 6.8 7.6 8.2 18

 19 - Insurance and pension reserves (1) ND 1.3 1.1 0.6 0.6 0.5 0.3 0.4 0.3 -0.2 19

 20 - Contr. for govt. soc. insur., U.S.-affiliated areas ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 - Net capital transfers paid (2) ND -0.6 -0.7 -0.6 -0.4 -0.2 -0.3 -0.3 -0.4 -0.3 21

 22 = Gross saving less net capital transfers paid ND 3.6 13.6 11.2 0.7 11.0 15.7 10.5 9.4 7.0 22

 23 Gross investment ND 10.0 23.2 19.1 8.4 19.4 24.7 19.7 18.4 16.8 23

 24 Fixed investment ND 1.9 1.8 3.0 4.4 3.9 10.7 15.0 16.1 13.3 24

 25 Nonproduced nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Net lending (+) or net borrowing (-) ND 8.1 21.5 16.1 4.0 15.5 14.1 4.7 2.3 3.5 26

 27 Net acq. of financial assets ND -15.8 14.7 11.1 7.2 16.2 16.1 10.9 9.6 5.6 27

 28 U.S. official reserve assets ND -0.1 1.4 0.4 0.1 -0.3 0.0 -0.1 -0.1 -0.2 28

 29 Checkable deposits and currency ND -22.7 -0.6 1.2 0.3 -0.2 0.1 2.4 -1.5 -0.3 29

 30 Time and savings deposits ND 0.0 -0.0 0.0 0.1 0.0 0.1 0.1 -0.0 0.0 30

 31 Credit market instruments ND 2.3 4.3 1.4 1.3 0.7 1.3 1.6 0.6 -0.3 31

 32 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 0.0 32

 33 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Other loans and advances ND 2.6 4.4 1.3 0.8 0.4 0.7 1.0 0.2 -0.4 34

 35 Mortgages ND -0.3 -0.1 0.0 0.5 0.3 0.6 0.6 0.4 0.1 35

 36 Consumer credit (3) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Corporate equities (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Trade receivables ND -0.8 -0.1 0.0 0.0 0.4 0.9 1.0 -0.0 0.2 38

 39 Taxes receivable ND 5.8 9.6 8.2 5.2 15.6 13.7 6.0 10.7 6.0 39

 40 Miscellaneous assets ND -0.3 0.1 -0.1 0.1 -0.0 -0.1 -0.0 -0.0 0.2 40

 41 Net increase in liabilities ND -23.8 -6.8 -5.0 3.2 0.7 2.0 6.1 7.2 2.1 41

 42 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 SDR certificates ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Treasury currency ND 0.1 -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 44

 45 Credit market instruments ND -23.4 -7.2 -5.7 2.6 -1.2 -0.4 5.4 7.0 2.4 45

 46 Savings bonds ND 1.2 2.1 1.6 1.5 0.3 -0.5 0.1 0.2 0.6 46

 47 Treasury bills ND -8.2 -10.7 2.4 3.2 -23.0 28.2 -8.8 7.5 2.1 47

 48 Other Treasury securities ND -16.3 1.4 -10.6 -2.2 22.1 -28.0 13.6 -2.3 -0.3 48

 49 Budget agency securities ND -0.2 -0.0 0.8 0.1 -0.6 -0.1 0.4 1.6 0.1 49

 50 Multifamily residential mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

 51 Trade payables ND -2.0 -0.7 0.0 0.0 1.1 1.6 0.1 -0.2 -0.2 51

 52 Insurance reserves ND 1.2 0.6 0.2 0.1 0.3 0.2 0.0 0.1 -0.3 52

 53 Miscellaneous liabilities (5) ND 0.3 0.6 0.5 0.6 0.5 0.7 0.6 0.3 0.2 53

 54 Nonmarketable securities held by pension plans ND 0.4 0.8 0.8 1.0 0.8 0.7 1.0 0.5 0.4 54

 55 Other ND -0.0 -0.3 -0.3 -0.5 -0.3 -0.0 -0.3 -0.2 -0.2 55

 56 Discrepancy ND -6.4 -9.6 -7.9 -7.6 -8.4 -9.0 -9.2 -9.0 -9.8 56

 Memo:

 57 Change in cash balance (6) ND -22.1 -2.1 1.2 0.5 -0.4 0.2 1.8 -1.4 0.3 57

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

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

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

 the government purchased from depository institutions and finance companies.

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

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

 retirement fund, and foreign service retirement and disability fund.

(6) Time and savings deposits (line 30) plus checkable deposit and currency liabilities of the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
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Historical Annuals, 1945-1954, June 6, 2013 19

F.106 Rest of the World

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Foreign income from U.S. ND 10.3 11.1 15.2 15.6 16.4 19.0 18.7 19.5 18.7 1

 2 U.S. imports ND 7.0 7.9 10.1 9.2 11.6 14.6 15.3 16.0 15.4 2

 3 U.S. income payments to rest of world ND 0.4 0.5 0.6 0.7 0.7 0.9 0.9 0.9 0.9 3

 4 Current taxes and trans. payments to rest of world ND 2.9 2.6 4.5 5.6 4.0 3.5 2.6 2.5 2.3 4

 5 Foreign outlays to U.S. ND 15.2 20.3 17.6 16.4 14.5 19.9 19.3 18.2 18.9 5

 6 U.S. exports ND 14.2 18.7 15.5 14.5 12.4 17.1 16.5 15.3 15.8 6

 7 U.S. income receipts from rest of world ND 1.1 1.6 2.0 1.9 2.2 2.8 2.9 2.8 3.0 7

 8 - Net capital transfers paid (1) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Gross saving less net capital transfers paid (2) ND -4.9 -9.3 -2.4 -0.9 1.8 -0.9 -0.6 1.3 -0.2 9

 10 Gross investment ND -4.9 -9.9 -3.0 -1.3 2.2 -0.7 -0.3 1.7 0.3 10

 11 Nonproduced nonfinancial assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Net lending (+) or net borrowing (-) ND -4.9 -9.9 -3.0 -1.3 2.2 -0.7 -0.3 1.7 0.3 12

 13 Net acquisition of financial assets ND -1.9 -0.8 -0.8 0.0 3.5 0.7 1.2 2.2 1.5 13

 14 Monetary gold (3) ND -0.6 -2.2 -1.5 -0.2 1.7 -0.1 -0.4 1.2 0.3 14

 15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net interbank assets ND -0.2 0.1 0.2 0.3 0.2 0.6 0.1 -0.1 0.0 16

 17 U.S. checkable deposits and currency ND -0.4 -0.6 0.5 -0.2 0.0 -0.3 0.3 -0.5 0.2 17

 18 U.S. time deposits ND 0.0 -0.0 0.0 0.1 0.2 -0.3 0.1 0.6 0.5 18

 19 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Security RPs (net) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Credit market instruments ND -0.7 0.7 0.1 0.2 1.4 0.1 0.2 0.7 0.6 21

 22 Open market paper ND 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.2 22

 23 Treasury securities ND -0.5 0.6 0.1 0.1 1.4 -0.0 0.2 0.6 0.4 23

 24 Official ND -0.5 0.6 0.1 0.1 1.4 -0.0 0.2 0.6 0.4 24

 25 Private ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Official ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Private ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 U.S. corporate bonds (4) ND -0.3 0.1 -0.0 0.1 -0.0 0.0 0.0 0.0 0.0 30

 31 Loans to U.S. corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 U.S. corporate equities ND -0.1 -0.2 -0.1 -0.0 0.0 0.1 0.3 -0.1 0.5 32

 33 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Trade receivables ND -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 -0.1 -0.0 34

 35 Security credit ND 0.0 -0.0 -0.0 0.0 0.0 -0.0 -0.0 -0.0 0.0 35

 36 Miscellaneous assets ND 0.1 1.4 0.1 -0.2 -0.2 0.5 0.6 0.4 -0.6 36

 37 Foreign direct investment in U.S. (5) ND -0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.1 37

 38 Other ND 0.1 1.3 0.1 -0.3 -0.3 0.4 0.5 0.3 -0.8 38

 39 Net increase in liabilities ND 3.0 9.0 2.2 1.3 1.3 1.3 1.6 0.5 1.2 39

 40 U.S. official reserve assets ND -0.2 1.2 0.4 0.2 -0.0 -0.0 0.0 -0.1 -0.2 40

 41 U.S. private deposits ND 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 41

 42 Credit market instruments ND 3.0 4.3 1.4 0.2 0.1 0.6 0.5 0.0 0.3 42

 43 Commercial paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Bonds ND -0.1 -0.0 0.1 -0.0 0.3 0.3 0.0 -0.1 -0.1 44

 45 Depository institution loans n.e.c. ND 0.3 0.2 0.2 -0.3 -0.3 0.2 0.0 -0.1 0.5 45

 46 Official ND 0.0 0.1 -0.0 -0.0 0.1 0.2 -0.0 -0.1 0.2 46

 47 Banks ND 0.3 -0.1 0.2 -0.3 -0.0 0.1 -0.1 -0.0 0.2 47

 48 Other ND -0.0 0.2 0.0 -0.0 -0.3 -0.1 0.2 -0.1 0.1 48

 49 Other loans and advances ND 2.7 4.2 1.1 0.5 0.2 0.2 0.4 0.3 -0.1 49

 50 Foreign corporate equities (6) ND 0.1 0.0 -0.1 -0.0 -0.2 -0.2 0.0 0.1 0.3 50

 51 Trade payables ND -0.0 0.1 0.0 -0.0 -0.0 0.0 0.0 -0.0 0.1 51

 52 Security debt ND -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

 53 Miscellaneous liabilities ND 0.2 3.5 0.5 1.0 1.3 0.8 1.0 0.5 0.7 53

 54 U.S. equity in IBRD, etc. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Nonofficial foreign currencies ND -0.2 0.1 -0.1 0.2 0.0 0.0 -0.0 -0.0 0.1 55

 56 U.S. direct investment abroad (4,5) ND 0.2 0.7 0.7 0.7 0.6 0.5 0.9 0.7 0.7 56

 57 Investment by holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

 58 Other ND 0.2 2.6 -0.1 0.2 0.7 0.3 0.2 -0.2 -0.1 58

 59 Discrepancy (FOF basis) (7) ND 0.0 0.6 0.6 0.4 -0.4 -0.2 -0.3 -0.4 -0.4 59

 Memo:

 60 Net U.S. exports, NIPA basis ND 7.2 10.8 5.5 5.2 0.7 2.5 1.2 -0.7 0.4 60

 61 + Net U.S. income receipts (8) ND 0.7 1.1 1.5 1.3 1.4 1.9 2.0 1.9 2.1 61

 62 - Current taxes and trans. payments to rest of world ND 2.9 2.6 4.5 5.6 4.0 3.5 2.6 2.5 2.3 62

 63 = Balance on current account, NIPAs ND 4.9 9.3 2.4 0.9 -1.8 0.9 0.6 -1.3 0.2 63

(1) Table F.9, line 64.

(2) Line 1 minus line 5 minus line 8; equals net lending or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 63 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) Balance of payments discrepancy adjusted to NIPA concepts.

(8) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
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20 Historical Annuals, 1945-1954, June 6, 2013

F.107 Financial Business (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving less net capital transfers paid ND 1.5 1.4 2.0 2.3 2.0 2.2 2.6 2.8 2.9 1

 2 Gross investment ND 1.2 1.4 1.7 1.6 2.7 1.2 2.9 2.7 3.8 2

 3 Capital expenditures ND 0.3 0.7 0.8 0.7 0.9 0.9 0.8 1.1 1.1 3

 4 Fixed residential investment ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Fixed nonresidential investment ND 0.3 0.7 0.8 0.7 0.9 0.9 0.8 1.1 1.1 5

 6 Net lending (+) or net borrowing (-) ND 0.9 0.7 0.9 0.9 1.8 0.3 2.0 1.5 2.7 6

 7 Net acqisition of financial assets ND -2.3 14.5 13.9 9.7 22.3 23.8 30.3 24.2 28.2 7

 8 U.S. official reserve assets ND 0.5 1.9 1.5 0.2 -1.5 -0.0 0.5 -1.2 -0.3 8

 9 SDR certificates ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury currency ND 0.2 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 10

 11 Foreign deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Net interbank assets ND 0.2 1.9 2.3 -3.9 2.2 2.7 -0.2 -0.2 -1.5 12

 13 Checkable deposits and currency ND 0.4 0.3 0.0 0.1 0.5 0.3 0.1 0.2 0.0 13

 14 Time and savings deposits ND -0.0 -0.0 0.0 0.0 0.0 0.0 0.4 0.1 0.1 14

 15 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Federal funds and security RPs ND 0.0 0.0 0.0 0.0 0.1 0.1 0.6 -0.1 -0.5 16

 17 Credit market instruments ND 0.1 9.5 8.6 9.8 18.8 19.5 23.9 21.3 25.3 17

 18 Open market paper ND 0.1 0.1 -0.1 -0.0 0.1 0.1 0.0 0.0 0.2 18

 19 Treasury securities ND -15.3 -8.0 -8.4 -1.0 -4.9 -0.5 2.6 1.8 5.1 19

 20 Agency- and GSE-backed securities ND 0.2 0.0 1.0 0.0 -0.2 -0.1 0.4 1.6 -0.1 20

 21 Municipal securities ND 0.4 1.0 1.0 1.5 2.3 1.6 1.7 2.1 3.4 21

 22 Corporate and foreign bonds ND 2.1 3.7 4.8 3.5 2.4 3.7 5.0 4.8 4.3 22

 23 Depository institution loans n.e.c. ND 5.2 4.1 1.5 -1.8 5.6 5.3 2.1 -1.3 0.0 23

 24 Other loans and advances ND 0.1 0.1 0.5 -0.1 1.0 0.8 0.5 0.3 0.5 24

 25 Mortgages ND 5.0 5.9 6.1 5.2 9.1 7.8 7.6 8.4 10.8 25

 26 Consumer credit ND 2.4 2.6 2.1 2.4 3.3 0.7 3.9 3.7 1.0 26

 27 Corporate equities ND 0.3 0.6 0.3 1.0 0.7 0.6 1.6 1.9 1.2 27

 28 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Trade receivables ND 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 29

 30 Security credit ND -4.3 -1.1 0.2 0.7 0.8 -0.3 0.7 0.9 1.8 30

 31 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Miscellaneous assets ND 0.2 1.3 0.8 1.6 0.7 0.7 2.4 1.2 2.0 32

 33 Net increase in liabilities ND -3.2 13.8 13.0 8.8 20.6 23.5 28.3 22.7 25.5 33

 34 Net interbank liabilities ND -0.2 2.2 2.4 -3.4 2.5 2.7 -0.1 -0.3 -1.7 34

 35 Checkable deposits and currency ND -14.6 1.1 -0.6 -0.0 5.3 7.2 6.5 0.0 4.6 35

 36 Time and savings deposits ND 6.5 3.6 2.5 3.0 2.7 5.0 8.2 9.2 10.5 36

 37 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Federal funds and security RPs ND 2.0 0.3 0.2 0.1 -0.2 0.1 -0.1 -0.1 -0.4 38

 39 Credit market instruments ND 1.2 0.8 1.6 0.8 2.3 1.1 1.5 1.6 -0.4 39

 40 Open market paper ND 0.2 0.2 0.2 0.2 0.2 0.4 0.4 0.3 0.2 40

 41 Agency- and GSE-backed securities ND 0.3 0.1 0.3 -0.1 0.4 0.2 0.1 0.0 -0.0 41

 42 Corporate and foreign bonds ND 0.1 0.1 0.4 0.3 0.2 0.4 0.0 1.4 -0.3 42

 43 Depository institution loans n.e.c. ND 0.5 0.3 0.6 0.5 1.2 -0.1 1.1 -0.2 -0.1 43

 44 Other loans and advances ND 0.1 0.1 0.1 -0.1 0.4 0.1 -0.0 0.1 -0.1 44

 45 Mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 Corporate equities ND 0.1 0.4 0.2 0.3 0.4 0.4 0.3 0.6 -0.3 46

 47 Mutual fund shares ND 0.2 0.2 0.1 0.3 0.3 0.4 0.5 0.4 0.4 47

 48 Trade payables ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 48

 49 Security credit ND -3.6 -1.2 0.2 0.4 0.6 -0.3 0.5 0.5 1.3 49

 50 Life insurance reserves ND 2.6 2.5 2.6 2.7 2.6 2.6 2.8 2.9 3.0 50

 51 Pension fund reserves ND 1.2 2.2 2.4 2.7 2.0 3.3 5.8 5.3 5.6 51

 52 Taxes payable ND 0.0 -0.1 0.1 0.2 0.2 0.2 0.3 0.5 -0.3 52

 53 Equity in noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

 54 Miscellaneous liabilities ND 1.2 1.8 1.1 1.6 1.8 0.9 2.0 2.0 2.9 54

 55 Discrepancy ND 0.3 0.0 0.3 0.7 -0.7 1.0 -0.2 0.1 -0.9 55

(1) Sum of financial sectors shown on tables F.108 and F.110 through F.129.
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Historical Annuals, 1945-1954, June 6, 2013 21

F.108 Monetary Authority (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving ND 0.1 0.0 0.1 0.0 -0.0 0.0 0.1 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 2

 3 Net acquisition of financial assets ND -0.3 1.1 2.5 -4.5 1.3 2.9 1.4 -0.0 -1.2 3

 4 U.S. official reserve assets ND 0.5 1.9 1.5 0.2 -1.5 -0.0 0.5 -1.2 -0.3 4

 5 SDR certificates ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency ND 0.2 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 6

 7 Federal Reserve float (2) ND 0.0 -0.0 0.0 -0.0 0.8 -0.2 -0.2 -0.0 -0.1 7

 8 Interbank loans (2) ND -0.2 0.0 -0.0 -0.0 0.1 -0.0 0.1 -0.1 -0.0 8

 9 Discount window (3) ND -0.2 0.0 -0.0 -0.0 0.1 -0.0 0.1 -0.1 -0.0 9

 10 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Security RPs ND 0.0 0.0 0.0 0.0 0.1 0.1 0.5 -0.1 -0.6 11

 12 Credit market instruments ND -0.8 -0.9 0.9 -4.6 1.8 2.9 0.5 1.3 -0.3 12

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

 14 Treasury securities ND -0.9 -0.8 0.8 -4.4 1.8 2.9 0.4 1.3 -0.4 14

 15 Treasury bills ND 1.0 -4.0 -6.7 -0.5 -7.5 9.6 -7.5 2.7 7.6 15

 16 Other Treasury securities ND -2.0 3.2 7.4 -4.0 9.4 -6.7 7.9 -1.4 -8.1 16

 17 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Other agency- and GSE-baked securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Depository institution loans n.e.c. ND 0.1 -0.1 0.1 -0.1 -0.1 0.0 0.0 -0.0 0.1 20

 21 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Rest of world ND 0.1 -0.1 0.1 -0.1 -0.1 0.0 0.0 -0.0 0.1 22

 23 Brokers and dealers (6) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (Maiden Lane) (7) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (AIG) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Funding corporations (Maiden Lane II) (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Funding corporations (Maiden Lane III) (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Funding corporations (CPFF) (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Corporate equities (11) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Miscellaneous assets ND -0.0 0.1 0.0 -0.0 0.0 0.0 0.0 -0.0 -0.0 30

 31 Nonofficial foreign currencies (12) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other ND -0.0 0.1 0.0 -0.0 0.0 0.0 0.0 -0.0 -0.0 32

 33 Net increase in liabilities ND -0.4 1.1 2.4 -4.5 1.3 2.9 1.4 -0.1 -1.3 33

 34 Depository institution reserves ND 0.2 1.8 2.6 -3.9 1.1 2.4 -0.1 0.2 -1.3 34

 35 Vault cash of commercial banks ND 0.2 0.2 -0.2 0.0 0.2 0.5 0.1 -0.2 -0.0 35

 36 Checkable deposits and currency ND -0.7 -1.1 0.1 -0.8 -0.4 0.4 1.3 -0.1 0.1 36

 37 Due to federal government ND -0.6 -0.5 0.2 -0.3 -0.2 -0.4 0.1 -0.6 0.3 37

 38 Treasury cash holdings ND -0.0 -0.9 -0.0 -0.0 -0.0 -0.0 0.0 -0.5 0.0 38

 39 Treasury general deposit account ND -0.6 0.5 0.3 -0.3 -0.2 -0.4 0.1 -0.0 0.2 39

 40 Treasury temporary supplementary financing account ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Due to rest of the world ND -0.4 -0.4 0.2 0.1 -0.2 -0.1 0.0 -0.1 0.1 41

 42 Due to government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Currency outside banks ND 0.3 -0.3 -0.4 -0.7 -0.0 0.9 1.2 0.6 -0.2 43

 44 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Miscellaneous liabilities ND -0.1 0.2 -0.0 0.2 0.4 -0.4 0.1 0.0 -0.0 45

 46 Federal Reserve Bank stock ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Other ND -0.1 0.2 -0.0 0.2 0.3 -0.4 0.1 0.0 -0.0 47

 48 Discrepancy ND 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 48

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table F.203.

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

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

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

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

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

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

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

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

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

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

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.
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22 Historical Annuals, 1945-1954, June 6, 2013

F.109 Private Depository Institutions (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving less net capital transfers paid (2) ND 0.9 1.0 1.0 1.1 1.1 1.3 1.4 1.4 1.5 1

 2 Fixed nonresidential investment 0.0 0.1 0.2 0.2 0.2 0.3 0.3 0.3 0.4 0.4 2

 3 Net lending (+) or net borrowing (-) ND 0.6 0.6 0.6 0.6 0.8 0.5 0.6 0.7 0.8 3

 4 Net acquisition of financial assets ND -6.6 6.7 2.8 5.1 11.6 12.7 14.6 10.4 16.5 4

 5 Vault cash ND 0.2 0.2 -0.2 0.0 0.2 0.5 0.1 -0.2 -0.0 5

 6 Reserves at Federal Reserve ND 0.2 1.8 2.6 -3.9 1.1 2.4 -0.1 0.2 -1.3 6

 7 Credit market instruments ND -3.1 5.9 0.6 8.3 9.9 10.1 13.3 9.6 15.9 7

 8 Open market paper ND 0.1 0.1 -0.1 -0.0 0.1 0.1 0.1 -0.0 0.2 8

 9 Treasury securities ND -15.3 -5.7 -7.4 4.4 -5.5 -1.4 1.7 -0.0 5.3 9

 10 Agency- and GSE-backed securities ND 0.2 0.0 1.0 0.0 -0.2 -0.1 0.3 1.5 -0.1 10

 11 Municipal securities ND 0.4 0.9 0.4 0.9 1.6 1.1 1.2 0.8 1.9 11

 12 Corporate and foreign bonds ND 0.2 0.3 0.1 0.4 0.1 -0.0 0.2 0.3 0.0 12

 13 Depository institution loans n.e.c. ND 5.1 4.2 1.4 -1.7 5.7 5.3 2.1 -1.3 -0.1 13

 14 Other loans and advances ND 0.1 0.0 -0.0 0.0 0.1 0.1 0.0 0.1 0.3 14

 15 Mortgages ND 4.4 4.3 3.9 3.0 5.6 4.6 5.3 6.1 7.7 15

 16 Consumer credit ND 1.8 1.7 1.3 1.3 2.3 0.4 2.5 2.1 0.6 16

 17 Corporate equities ND 0.0 -0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 17

 18 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Security credit ND -3.7 -1.1 0.3 0.4 0.3 -0.3 0.7 0.5 1.0 19

 20 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Miscellaneous assets ND -0.2 0.1 -0.4 0.3 0.1 -0.1 0.6 0.3 0.8 21

 22 Net increase in liabilities ND -7.2 6.1 2.2 4.5 10.8 12.3 14.1 9.8 15.8 22

 23 Net interbank liabilities ND -0.6 0.3 0.1 0.4 1.2 -0.2 -0.0 -0.2 -0.3 23

 24 Checkable deposits ND -13.8 2.2 -0.6 0.8 5.6 6.8 5.2 0.1 4.6 24

 25 Small time and savings deposits ND 6.3 3.4 2.2 2.6 2.5 5.0 7.9 8.3 9.4 25

 26 Large time deposits ND 0.2 0.2 0.3 0.4 0.3 -0.0 0.3 0.9 1.2 26

 27 Federal funds and security RPs (net) ND -0.0 -0.1 -0.0 0.0 0.0 0.1 0.0 0.0 -0.1 27

 28 Credit market instruments ND 0.2 0.2 0.1 -0.1 0.5 0.2 -0.0 0.2 0.2 28

 29 Open market paper ND 0.1 0.0 -0.0 0.0 0.1 0.1 0.0 0.1 0.3 29

 30 Corporate bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Other loans and advances ND 0.1 0.1 0.1 -0.1 0.4 0.1 -0.0 0.1 -0.1 31

 32 Corporate equity issues ND 0.1 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 32

 33 Taxes payable (net) ND 0.0 -0.1 0.0 0.0 0.1 0.2 0.2 0.2 -0.0 33

 34 Miscellaneous liabilities ND 0.4 0.1 0.1 0.2 0.4 0.1 0.4 0.2 0.6 34

 35 Foreign direct investment in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Investment by holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Investment by funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Other ND 0.4 0.1 0.1 0.2 0.4 0.1 0.4 0.2 0.6 38

 39 Discrepancy ND 0.1 0.2 0.2 0.2 -0.1 0.6 0.5 0.3 0.4 39

 Memo:

 40 Consumer leases not included above (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

(1) U.S.-chartered depository institutions (F.110), foreign banking offices (F.111), banks in U.S.-affiliated areas (F.112), and credit unions (F.113).

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

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

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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Historical Annuals, 1945-1954, June 6, 2013 23

F.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving less net capital transfers paid (1) ND 0.9 1.0 0.9 1.1 1.0 1.3 1.3 1.3 1.4 1

 2 Fixed nonresidential investment 0.0 0.1 0.2 0.2 0.2 0.3 0.3 0.2 0.4 0.4 2

 3 Net acquisition of financial assets ND -6.7 6.6 2.6 4.7 11.2 12.4 14.1 10.0 16.0 3

 4 Vault cash ND 0.2 0.2 -0.2 0.0 0.2 0.5 0.1 -0.2 -0.0 4

 5 Reserves at Federal Reserve ND 0.2 1.8 2.6 -3.9 1.1 2.4 -0.1 0.2 -1.3 5

 6 Credit market instruments ND -3.2 5.8 0.4 8.0 9.5 9.8 12.9 9.2 15.5 6

 7 Open market paper ND 0.1 0.1 -0.1 -0.0 0.1 0.1 0.0 0.0 0.2 7

 8 Treasury securities ND -15.2 -5.6 -7.4 4.3 -5.5 -1.4 1.6 -0.0 5.2 8

 9 Agency- and GSE-backed securities ND 0.2 0.0 1.0 0.0 -0.2 -0.1 0.3 1.5 -0.1 9

 10 Residential mortgage pass-through securities ND 0.0 0.0 0.1 -0.0 -0.0 0.0 0.0 0.0 -0.0 10

 11 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Residential CMOs and other structured MBS ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Other ND 0.2 0.0 0.9 0.1 -0.2 -0.1 0.3 1.5 -0.0 14

 15 Municipal securities ND 0.4 0.9 0.4 0.9 1.6 1.1 1.2 0.7 1.9 15

 16 Corporate and foreign bonds ND 0.2 0.3 0.1 0.4 0.1 -0.0 0.2 0.3 0.1 16

 17 Private residential mortgage pass-through securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Private commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Private residential CMOs and other structured MBS ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Private commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Other ND 0.2 0.3 0.1 0.4 0.1 -0.0 0.2 0.3 0.1 21

 22 Depository institution loans n.e.c. ND 5.0 4.2 1.3 -1.8 5.6 5.2 2.0 -1.2 -0.1 22

 23 Other loans and advances ND 0.1 0.0 -0.0 0.0 0.1 0.1 0.0 0.1 0.2 23

 24 Mortgages ND 4.3 4.2 3.8 2.9 5.5 4.6 5.3 6.1 7.7 24

 25 Consumer credit ND 1.8 1.7 1.3 1.2 2.2 0.3 2.2 1.8 0.4 25

 26 Corporate equities ND 0.0 -0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 26

 27 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Security credit ND -3.7 -1.1 0.3 0.3 0.2 -0.3 0.6 0.4 0.9 28

 29 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Miscellaneous assets ND -0.3 0.0 -0.4 0.3 0.1 -0.1 0.6 0.3 0.7 30

 31 Net increase in liabilities ND -7.3 6.0 2.1 4.1 10.3 11.8 13.6 9.4 15.2 31

 32 Net interbank liabilities ND -0.6 0.1 -0.1 0.2 1.1 -0.2 -0.1 -0.1 -0.3 32

 33 Federal Reserve float ND 0.0 -0.0 0.0 -0.0 0.8 -0.2 -0.2 -0.0 -0.1 33

 34 Borrowing from Federal Reserve banks ND -0.2 0.0 -0.0 -0.0 0.1 -0.0 0.1 -0.1 -0.0 34

 35 To domestic banking ND -0.2 0.2 -0.1 0.1 0.1 -0.3 0.1 0.1 -0.0 35

 36 To foreign banks ND -0.2 -0.0 0.0 0.1 0.1 0.3 -0.1 -0.1 -0.1 36

 37 Checkable deposits ND -13.8 2.2 -0.5 0.8 5.5 6.7 5.1 0.1 4.4 37

 38 Federal government ND -21.5 -1.6 1.0 0.7 -0.3 0.6 1.6 -0.8 0.0 38

 39 Rest of the world ND 0.0 -0.2 0.3 -0.4 0.2 -0.2 0.2 -0.3 0.1 39

 40 Private domestic ND 7.7 4.1 -1.8 0.4 5.6 6.4 3.3 1.2 4.3 40

 41 Small time and savings deposits ND 6.3 3.3 2.1 2.5 2.3 4.8 7.6 7.9 9.0 41

 42 Large time deposits ND 0.2 0.2 0.3 0.3 0.3 -0.0 0.3 0.9 1.1 42

 43 Federal funds and security RPs (net) ND -0.0 -0.1 -0.0 0.0 0.0 0.1 0.0 0.0 -0.1 43

 44 Credit market instruments ND 0.2 0.2 0.1 -0.1 0.5 0.2 -0.0 0.2 0.2 44

 45 Open market paper ND 0.1 0.0 -0.0 0.0 0.1 0.1 0.0 0.1 0.2 45

 46 Corporate bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Other loans and advances ND 0.1 0.1 0.1 -0.1 0.4 0.1 -0.0 0.1 -0.1 47

 48 Corporate equity issues ND 0.1 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 48

 49 Taxes payable (net) ND 0.0 -0.1 0.0 0.0 0.1 0.2 0.2 0.2 -0.0 49

 50 Miscellaneous liabilities ND 0.4 0.2 0.1 0.2 0.4 0.1 0.4 0.1 0.6 50

 51 Investment by holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 51

 52 Other ND 0.4 0.2 0.1 0.2 0.4 0.1 0.4 0.1 0.6 52

 53 Discrepancy ND 0.2 0.2 0.2 0.2 -0.1 0.5 0.5 0.2 0.3 53

 Memo:

 54 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

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

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

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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24 Historical Annuals, 1945-1954, June 6, 2013

F.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets ND 0.0 0.1 0.1 0.3 0.2 0.3 0.2 0.1 0.3 3

 4 Reserves at Federal Reserve ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments ND 0.1 0.1 0.1 0.2 0.2 0.3 0.2 0.0 0.1 5

 6 Open market paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 6

 7 Treasury securities ND -0.0 -0.0 0.0 0.1 0.1 0.1 0.0 -0.0 0.1 7

 8 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Municipal securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 9

 10 Corporate and foreign bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 10

 11 Depository institution loans n.e.c. ND 0.1 0.1 0.1 0.1 0.1 0.1 0.1 -0.0 0.0 11

 12 Other loans and advances ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 12

 13 Mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Corporate equities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Security credit ND 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 15

 16 Miscellaneous assets ND -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 16

 17 Net increase in liabilities ND 0.0 0.1 0.1 0.3 0.2 0.3 0.3 0.1 0.3 17

 18 Net interbank liabilities ND 0.0 0.1 0.1 0.2 0.1 0.2 0.1 -0.0 0.2 18

 19 To foreign banks ND 0.1 0.1 0.2 0.2 0.1 0.3 0.2 0.0 0.2 19

 20 To domestic banks ND -0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 20

 21 Checkable deposits ND -0.1 -0.0 -0.0 0.1 0.1 0.1 0.1 0.0 0.1 21

 22 Small time and savings deposits ND 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Large time deposits ND 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Federal funds and security RPs (net) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Acceptance liabilities ND 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.1 25

 26 Miscellaneous liabilities ND 0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 -0.1 26

 27 Foreign direct investment in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Investment by funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other ND 0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 -0.0 -0.1 29

 30 Discrepancy ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).
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F.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets ND 0.0 -0.0 -0.1 -0.0 0.1 -0.0 0.0 -0.0 0.0 3

 4 Credit market instruments ND -0.0 -0.1 -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 4

 5 Treasury securities ND -0.1 -0.1 -0.1 -0.0 -0.0 -0.0 0.0 -0.0 0.0 5

 6 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities ND -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds ND 0.0 -0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 -0.0 8

 9 Depository institution loans n.e.c. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Home mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Commercial mortgages ND 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 11

 12 Miscellaneous assets ND 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 12

 13 Net increase in liabilities ND -0.0 -0.0 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Net interbank liabilities ND 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.0 14

 15 Checkable deposits ND -0.0 -0.0 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Small time and savings deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Large time deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Miscellaneous liabilities ND -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 0.0 -0.0 18

 19 Discrepancy ND -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 0.0 -0.0 19

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

F.113 Credit Unions

Billions of dollars

 1 Gross saving ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 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 2

 3 Net acquisition of financial assets ND 0.1 0.1 0.1 0.1 0.2 0.1 0.2 0.3 0.2 3

 4 Reserves at Federal Reserve ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments ND 0.1 0.1 0.1 0.1 0.2 0.1 0.2 0.3 0.2 5

 6 Open market paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate and foreign bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Depository institution loans n.e.c. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Home mortgages ND 0.0 0.1 0.1 0.0 0.1 0.0 -0.0 -0.0 0.0 12

 13 Consumer credit ND 0.0 0.0 0.0 0.1 0.1 0.1 0.3 0.3 0.2 13

 14 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Miscellaneous assets ND -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 15

 16 Net increase in liabilities ND 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.3 0.2 16

 17 Net interbank liabilities ND -0.0 0.0 0.0 0.0 -0.0 -0.2 -0.1 -0.1 -0.2 17

 18 Shares/deposits ND 0.1 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.3 18

 19 Checkable ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Small time and savings ND 0.1 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.3 20

 21 Large time ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Federal funds and security RPs (net) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other loans and advances ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous liabilities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 24

 25 Discrepancy ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 25
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26 Historical Annuals, 1945-1954, June 6, 2013

F.114 Property-Casualty Insurance Companies

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving less net capital transfers paid (1) ND 0.1 0.0 0.2 0.5 0.2 0.1 0.3 0.4 0.4 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets ND 0.9 1.1 1.1 0.9 1.0 0.9 1.3 1.4 1.1 3

 4 Checkable deposits and currency ND 0.2 0.2 0.0 0.1 0.1 0.0 0.1 0.1 -0.1 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments ND 0.6 0.7 0.9 0.7 0.8 0.6 0.9 1.1 1.0 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 8

 9 Treasury securities ND 0.6 0.6 0.5 0.4 0.4 0.2 0.4 0.3 0.1 9

 10 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Municipal securities ND -0.0 0.1 0.2 0.3 0.3 0.3 0.4 0.7 0.8 11

 12 Corporate and foreign bonds ND 0.0 0.1 0.1 -0.0 0.0 0.1 0.1 0.1 0.1 12

 13 Commercial mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Corporate equities ND -0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 14

 15 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Trade receivables ND 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 16

 17 Miscellaneous assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Net increase in liabilities ND 0.8 0.9 0.9 0.8 0.5 0.9 1.1 1.1 0.6 18

 19 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Corporate equity issues ND 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.1 0.1 20

 21 Taxes payable (net) ND -0.0 0.0 0.1 0.1 -0.1 -0.0 0.1 0.1 -0.1 21

 22 Miscellaneous liabilities ND 0.7 0.8 0.7 0.7 0.5 0.9 1.0 0.8 0.6 22

 23 Discrepancy ND 0.0 -0.1 -0.1 0.2 -0.4 0.1 0.0 -0.1 -0.3 23

(1) Net capital transfers paid from table F.9, line 51.

F.115 Life Insurance Companies

Billions of dollars

 1 Gross saving ND 0.4 0.2 0.4 0.4 0.4 0.4 0.6 0.6 0.7 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.1 2

 3 Net acquisition of financial assets ND 3.5 3.4 3.6 3.8 4.1 4.0 4.8 5.0 5.3 3

 4 Checkable deposits and currency ND -0.0 0.2 -0.1 -0.0 0.1 0.1 0.1 0.1 0.0 4

 5 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments ND 3.2 3.0 3.5 3.5 3.5 3.6 4.4 4.7 4.8 7

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

 9 Treasury securities ND 1.0 -1.6 -3.2 -1.5 -1.8 -2.5 -0.8 -0.4 -0.8 9

 10 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Municipal securities ND -0.1 -0.0 0.3 0.2 0.1 -0.0 0.0 0.1 0.5 11

 12 Corporate and foreign bonds ND 1.8 3.0 4.2 2.6 1.8 2.7 3.1 2.7 2.1 12

 13 Other loans and advances ND -0.1 0.0 0.1 0.2 0.2 0.2 0.1 0.2 0.2 13

 14 Mortgages ND 0.5 1.5 2.2 2.1 3.2 3.2 1.9 2.1 2.7 14

 15 Corporate equities ND 0.3 0.2 0.0 0.2 0.3 0.1 0.2 0.1 0.3 15

 16 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Miscellaneous assets ND 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.1 0.2 17

 18 Net increase in liabilities ND 3.3 3.4 3.5 3.7 3.7 4.0 4.0 4.6 4.8 18

 19 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Other loans and advances ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Life insurance reserves ND 2.6 2.5 2.6 2.7 2.6 2.6 2.8 2.9 3.0 22

 23 Pension fund reserves (1) ND 0.4 0.5 0.6 0.6 0.8 1.0 1.1 1.1 1.2 23

 24 Taxes payable (net) ND -0.0 -0.0 0.0 0.0 0.0 0.1 0.0 0.1 -0.0 24

 25 Miscellaneous liabilities ND 0.3 0.4 0.3 0.4 0.3 0.4 -0.0 0.5 0.7 25

 26 Discrepancy ND 0.1 0.1 0.2 0.3 -0.1 0.4 -0.3 0.2 0.2 26

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 25).
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Historical Annuals, 1945-1954, June 6, 2013 27

F.116 Private Pension Funds (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets ND 0.2 0.5 0.5 0.5 -0.3 0.9 2.6 2.3 2.5 3

 4 Checkable deposits and currency ND 0.0 0.0 0.0 0.0 0.1 0.1 -0.0 0.1 -0.0 4

 5 Time and savings deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.1 0.1 5

 6 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Security RPs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 7

 8 Credit market instruments ND 0.3 0.3 0.3 0.3 0.3 0.8 1.1 1.3 1.3 8

 9 Open market paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities ND 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.2 0.0 10

 11 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 11

 12 Corporate and foreign bonds ND 0.2 0.2 0.2 0.2 0.2 0.7 1.1 1.1 1.3 12

 13 Mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Corporate equities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.8 1.0 14

 15 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Miscellaneous assets ND -0.1 0.2 0.2 0.1 -0.6 0.0 0.4 0.0 0.1 16

 17 Unallocated insurance contracts (2) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Contributions receivable ND 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0 18

 19 Other ND -0.1 0.2 0.2 0.1 -0.6 0.0 0.2 0.0 0.0 19

 20 Pension fund reserves (liabilities) (3) ND 0.2 0.5 0.5 0.5 -0.3 0.9 2.6 2.3 2.5 20

 Memo:

 Net acquisition of financial assets (4)

 21 Defined benefit plans ND ND ND ND ND ND ND ND ND ND 21

 22 Defined contibution plans ND ND ND ND ND ND ND ND ND ND 22

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(3) Equal to the net acquisition of nonfinancial and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

(4) Additional detail on defined benefit plans and defined contribution plans is available on F.116.b and F.116.c.
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28 Historical Annuals, 1945-1954, June 6, 2013

F.117 State and Local Government Employee Retirement Funds

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets ND 0.3 0.3 0.4 0.5 0.7 0.8 1.0 1.3 1.5 3

 4 Checkable deposits and currency ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Time and savings deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Security RPs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Credit market instruments ND 0.3 0.3 0.4 0.5 0.6 0.7 1.0 1.3 1.5 8

 9 Open market paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities ND 0.2 0.2 0.2 0.2 0.2 0.4 0.5 0.5 0.5 10

 11 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Municipal securities ND 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.3 12

 13 Corporate and foreign bonds ND 0.0 0.0 0.1 0.1 0.2 0.1 0.3 0.5 0.6 13

 14 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 14

 15 Corporate equities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Miscellaneous assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Pension fund reserves (liabilities) (1) ND 0.3 0.3 0.4 0.5 0.7 0.8 1.0 1.3 1.5 18

(1) Equal to the net acquisition of nonfinancial and financial assets less gross saving (line 2 + line 3 - line 1). These liabilities are assets of the household sector.

F.118 Federal Government Retirement Funds (1)

Billions of dollars

 1 Net acquisition of financial assets ND 0.4 0.8 0.8 1.0 0.8 0.7 1.0 0.5 0.4 1

 2 Credit market instruments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Treasury securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Miscellaneous assets(2) ND 0.4 0.8 0.8 1.0 0.8 0.7 1.0 0.5 0.4 7

 8 Pension fund reserves (liabilities) (3) ND 0.4 0.8 0.8 1.0 0.8 0.7 1.0 0.5 0.4 8

(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

(2) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.

(3) Liabilities of the sector are assets of the household sector.
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Historical Annuals, 1945-1954, June 6, 2013 29

F.119 Money Market Mutual Funds (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net acquisition of financial assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Foreign deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Checkable deposits and currency ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Time and savings deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

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

 8 Treasury securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Municipal securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Miscellaneous assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Net share issues (liabilities) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.120 Mutual Funds (1)

Billions of dollars

 1 Gross saving ND -0.1 -0.0 0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.1 1

 2 Net acquisition of financial assets ND 0.2 0.2 0.1 0.3 0.3 0.4 0.5 0.4 0.4 2

 3 Security RPs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 3

 4 Credit market instruments ND 0.1 0.0 0.0 0.1 0.1 0.2 0.0 0.0 0.1 4

 5 Open market paper ND 0.1 0.0 -0.0 0.1 0.1 0.2 -0.1 0.0 0.0 5

 6 Treasury securities ND -0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 6

 7 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Municipal securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Corporate and foreign bonds ND 0.0 -0.0 0.0 0.0 0.0 0.0 0.1 -0.0 0.1 9

 10 Other loans and advances ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate equities ND 0.1 0.2 0.1 0.2 0.1 0.2 0.4 0.4 0.3 11

 12 Miscellaneous assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Net share issues (liabilities) ND 0.2 0.2 0.1 0.3 0.3 0.4 0.5 0.4 0.4 13

 14 Discrepancy ND -0.1 -0.0 0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.1 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.115).

F.121 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Net acquisition of financial assets ND 0.0 0.3 0.1 0.3 0.3 0.2 0.1 0.4 -0.6 1

 2 Credit market instruments ND 0.0 0.1 0.0 0.1 0.1 0.0 0.1 0.1 0.1 2

 3 Treasury securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Municipal securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities ND 0.0 0.2 0.1 0.2 0.2 0.2 0.0 0.4 -0.6 6

 7 Net share issues (liabilities) ND 0.0 0.3 0.1 0.3 0.3 0.2 0.1 0.4 -0.6 7

 Exchange-traded funds

 8 Net acquisition of financial assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Credit market instruments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

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

 12 Corporate and foreign bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Net share issues (liabilities) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14
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30 Historical Annuals, 1945-1954, June 6, 2013

F.122 Government-Sponsored Enterprises (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving ND 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 2

 3 Net acquisition of financial assets ND 0.1 0.2 0.3 -0.0 0.5 0.4 0.1 0.3 0.4 3

 4 Checkable deposits and currency ND 0.0 -0.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 -0.0 4

 5 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal funds and security RPs (net) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments ND 0.1 0.2 0.4 -0.0 0.5 0.4 0.1 0.1 0.3 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 8

 9 Treasury securities 0.0 0.0 -0.0 0.1 -0.0 -0.1 0.1 0.1 0.1 0.3 9

 10 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 10

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

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Other loans and advances ND 0.2 0.3 0.2 -0.1 0.5 0.3 -0.0 -0.1 -0.0 13

 14 Sallie Mae ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Farm Credit System ND 0.1 0.2 0.2 0.0 0.1 0.2 0.0 -0.2 0.0 15

 16 FHLB loans ND 0.1 0.1 0.1 -0.1 0.4 0.1 -0.0 0.1 -0.1 16

 17 Mortgages ND -0.1 -0.1 -0.0 0.0 0.0 0.1 0.1 0.1 0.1 17

 18 Home ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Other ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Multifamily residential ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Farm ND -0.1 -0.1 -0.0 0.0 0.0 0.1 0.1 0.1 0.1 24

 25 Consumer credit (3) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous assets ND -0.0 -0.0 -0.0 0.0 0.0 -0.0 -0.0 0.1 0.1 26

 27 Net increase in liabilities ND 0.0 0.1 0.3 -0.0 0.5 0.4 0.1 0.2 0.4 27

 28 Credit market instruments ND 0.3 0.1 0.3 -0.1 0.4 0.2 0.0 -0.0 -0.0 28

 29 GSE issues (4) ND 0.3 0.1 0.3 -0.1 0.4 0.2 0.0 -0.0 -0.0 29

 30 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Other ND 0.3 0.1 0.3 -0.1 0.4 0.2 0.0 -0.0 -0.0 31

 32 U.S. government loans ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Miscellaneous liabilities ND -0.3 0.0 0.0 0.1 0.1 0.2 0.0 0.2 0.4 34

 35 Discrepancy ND -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 35

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table F.123) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.123 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Net acquisition of financial assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Home mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Multifamily residential mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Commercial mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Net increase in pool securities (liabilities)(2) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.122). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
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Historical Annuals, 1945-1954, June 6, 2013 31

F.124 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment ND 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 ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Treasury securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Agency- and GSE-backed securities (1) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Other loans and advances ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Mortgages (2) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Home ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Multifamily residential ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Commercial ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Consumer credit ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Trade credit ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Net increase in liabilities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Commercial paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds (net) (3) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Discrepancy ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Memo:

 Securitized assets not included above

 17 Consumer leases (4) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 REIT assets (5) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Net issuance less net acquisition of corporate bonds held as assets.

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

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

(5) Included in table F.126.

F.125 Finance Companies (1)

Billions of dollars

 1 Gross saving ND 0.1 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.0 1

 2 Fixed nonresidential investment ND 0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 2

 3 Net acquisition of financial assets ND 0.7 0.7 1.1 1.1 1.7 0.4 2.4 1.8 0.9 3

 4 Checkable deposits and currency ND -0.0 -0.0 0.1 0.1 0.1 0.1 0.0 0.0 -0.0 4

 5 Time and savings deposits ND -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 5

 6 Credit market instruments ND 0.6 0.7 0.9 0.9 1.4 0.4 2.1 1.7 0.7 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Other loans and advances ND -0.1 -0.2 0.1 -0.2 0.2 0.2 0.4 0.1 0.0 8

 9 Mortgages ND 0.1 0.1 -0.0 0.1 0.2 -0.1 0.2 0.0 0.2 9

 10 Consumer credit ND 0.6 0.9 0.8 1.1 1.0 0.3 1.5 1.6 0.4 10

 11 Miscellaneous assets ND 0.1 0.1 -0.0 0.1 0.2 -0.1 0.2 0.0 0.2 11

 12 Net increase in liabilities ND 0.9 0.8 1.2 1.2 1.8 0.6 2.0 1.7 -0.0 12

 13 Credit market instruments ND 0.7 0.5 1.2 1.0 1.4 0.7 1.5 1.4 -0.6 13

 14 Open market paper ND 0.1 0.1 0.2 0.2 0.0 0.4 0.4 0.2 -0.2 14

 15 Corporate bonds ND 0.1 0.1 0.4 0.3 0.2 0.4 0.0 1.4 -0.3 15

 16 Depository institution loans n.e.c. ND 0.5 0.3 0.6 0.5 1.2 -0.1 1.1 -0.2 -0.1 16

 17 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Taxes payable ND 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.1 -0.1 18

 19 Miscellaneous liabilities ND 0.2 0.2 -0.0 0.2 0.3 -0.1 0.5 0.2 0.7 19

 20 Foreign direct investment in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Investment by parent ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other ND 0.2 0.2 -0.0 0.2 0.3 -0.1 0.5 0.2 0.7 22

 23 Discrepancy ND 0.1 0.1 0.1 0.1 0.1 0.2 -0.4 0.0 -0.9 23

 Memo:

 24 Consumer leases not included above (2) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.124.
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32 Historical Annuals, 1945-1954, June 6, 2013

F.126 Real Estate Investment Trusts (REITs)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving ND 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 2

 3 Multifamily residential investment ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Net acquisition of financial assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Checkable deposits and currency ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Home ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Multifamily residential ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Commercial ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Miscellaneous assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Net increase in liabilities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Security RPs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Credit market instruments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Open market paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Depository institution loans n.e.c. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Corporate equity issues ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Miscellaneous liabilities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Discrepancy ND 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 23

 Memo:

 24 Securitized assets included above ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Home mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Multifamily residential mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Commercial mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28
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Historical Annuals, 1945-1954, June 6, 2013 33

F.127 Security Brokers and Dealers

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving ND 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.1 0.1 2

 3 Net acquisition of financial assets ND -1.6 -0.8 0.5 0.5 0.4 -0.3 0.4 0.4 1.0 3

 4 Checkable deposits and currency ND 0.2 -0.1 -0.1 -0.1 0.1 -0.0 -0.1 -0.1 0.1 4

 5 Credit market instruments ND -1.1 -0.7 0.6 0.1 -0.1 -0.2 0.3 0.1 0.0 5

 6 Open market paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities ND -1.0 -0.7 0.6 -0.1 -0.1 -0.3 0.4 -0.1 0.0 7

 8 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Municipal securities ND 0.0 -0.1 0.0 -0.0 0.1 0.0 -0.2 0.2 -0.1 9

 10 Corporate and foreign bonds ND -0.1 0.0 0.0 0.2 -0.1 0.0 0.1 -0.0 0.1 10

 11 Other loans and advances ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate equities ND -0.1 0.0 0.0 0.2 -0.1 0.0 -0.0 0.0 -0.1 12

 13 Security credit ND -0.7 0.0 -0.0 0.4 0.5 -0.1 0.1 0.4 0.8 13

 14 Miscellaneous assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -0.0 0.2 14

 15 Net increase in liabilities ND -1.6 -0.8 0.5 0.5 0.4 -0.3 0.4 0.4 1.0 15

 16 Security RPs (net) ND 2.0 0.4 0.3 0.1 -0.2 0.1 -0.1 -0.1 -0.3 16

 17 Credit market instruments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Depository institution loans n.e.c. (1) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Corporate equity issues ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Trade payables ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 21

 22 Security credit ND -3.6 -1.2 0.2 0.4 0.6 -0.3 0.5 0.5 1.3 22

 23 Customer credit balances (HH) ND 0.0 -0.1 -0.0 0.1 0.3 -0.1 -0.2 -0.0 0.3 23

 24 From U.S.-chartered depository institutions ND -3.7 -1.1 0.3 0.3 0.2 -0.3 0.6 0.4 0.9 24

 25 From foreign banking offices in U.S. ND 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 25

 26 Taxes payable ND 0.0 -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 26

 27 Miscellaneous liabilities ND -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.0 -0.0 27

 28 Foreign direct investment in U.S. ND 0.0 0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 28

 29 Investment by funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Other ND -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.0 -0.0 30

 31 Proprietors’ net investment ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Discrepancy ND 0.0 0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 32

(1) 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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34 Historical Annuals, 1945-1954, June 6, 2013

F.128 Holding Companies (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross saving ND 0.0 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 1

 2 Fixed nonresidential investment 0.0 0.0 0.3 0.3 0.3 0.3 0.4 0.3 0.4 0.5 2

 3 Net acquisition of financial assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Time and savings deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal funds and security RPs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Agency- and GSE-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Corporate and foreign bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Other loans and advances ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Miscellaneous assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Net trans. with depository institution subs. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net trans. with life insurance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net trans. with finance company subs. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Net trans. with broker and dealer subs. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Net trans. with foreign subs. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Other ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Net increase in liabilities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Federal funds and security RPs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Credit market instruments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Commercial paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Corporate bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Depository institution loans n.e.c. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Corporate equity issues ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Miscellaneous liabilities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Equity, etc. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Discrepancy ND 0.0 -0.1 -0.2 -0.1 -0.1 -0.2 -0.1 -0.2 -0.2 30

(1) Parent only bank holding companies and savings and loan holding companies that file the Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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Historical Annuals, 1945-1954, June 6, 2013 35

F.129 Funding Corporations (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net acquisition of financial assets ND -0.1 -0.0 0.0 -0.0 -0.0 -0.1 0.1 0.0 -0.0 1

 2 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments ND -0.1 -0.0 0.0 -0.0 -0.0 -0.1 0.1 0.0 -0.0 4

 5 Open market paper ND -0.1 -0.0 0.0 -0.0 -0.0 -0.1 0.1 0.0 -0.0 5

 6 Corporate and foreign bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Other loans and advances ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Investment in foreign banking offices ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Investment in brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Net increase in liabilities ND -0.1 -0.0 0.0 -0.0 -0.0 -0.1 0.1 0.0 -0.0 12

 13 Credit market instruments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Open market paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Depository institution loans n.e.c. (3) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate equities (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Miscellaneous liabilities ND -0.1 -0.0 0.0 -0.0 -0.0 -0.1 0.1 0.0 -0.0 19

 20 Foreign direct investment in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Securities loaned (net) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other (net) ND -0.1 -0.0 0.0 -0.0 -0.0 -0.1 0.1 0.0 -0.0 23

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
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36 Historical Annuals, 1945-1954, June 6, 2013

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net change in liabilities ND -0.2 1.2 0.4 0.2 -0.0 -0.0 0.0 -0.1 -0.2 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 2

 3 Rest of the world ND -0.2 1.2 0.4 0.2 -0.0 -0.0 0.0 -0.1 -0.2 3

 4 SDR holdings ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserve position in IMF (net) ND -0.2 1.2 0.4 0.2 -0.0 -0.0 0.0 -0.1 -0.2 5

 6 Foreign currency holdings ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Net change in assets ND -0.2 1.2 0.4 0.2 -0.0 -0.0 0.0 -0.1 -0.2 7

 8 Federal government ND -0.1 1.4 0.4 0.1 -0.3 0.0 -0.1 -0.1 -0.2 8

 9 Monetary gold (2) ND 0.2 -0.1 0.0 -0.0 -0.0 0.1 -0.1 -0.0 0.0 9

 10 SDR holdings ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Reserve position in IMF (net) ND -0.2 1.5 0.4 0.2 -0.3 -0.0 0.0 -0.1 -0.2 11

 12 Foreign currency holdings ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Rest of the world ND -0.6 -2.2 -1.5 -0.2 1.7 -0.1 -0.4 1.2 0.3 13

 14 Monetary gold (2) ND -0.6 -2.2 -1.5 -0.2 1.7 -0.1 -0.4 1.2 0.3 14

 15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Monetary authority ND 0.5 1.9 1.5 0.2 -1.5 -0.0 0.5 -1.2 -0.3 16

 17 Monetary gold (2) ND 0.5 2.2 1.5 0.2 -1.7 -0.0 0.5 -1.2 -0.3 17

 18 Reserve position in IMF (net) ND 0.0 -0.3 -0.0 0.0 0.2 0.0 -0.0 -0.0 0.0 18

 19 Foreign currency holdings ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority ND 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 ND 0.1 -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 3

 4 Asset: Monetary authority ND 0.2 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 4

 5 Discrepancy (seigniorage) ND -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.0 -0.1 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability ND 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 1

 Held by:

 2 Household sector ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Nonfinancial corporate business ND 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 3

 4 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Discrepancy--unallocated assets ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5
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Historical Annuals, 1945-1954, June 6, 2013 37

F.203 Net Interbank Transactions

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net change in liabilities ND -0.2 2.2 2.4 -3.4 2.5 2.7 -0.1 -0.3 -1.7 1

 2 Monetary authority ND 0.4 1.9 2.3 -3.9 1.3 2.9 -0.1 -0.0 -1.3 2

 3 U.S.-chartered depository institutions ND -0.6 0.1 -0.1 0.2 1.1 -0.2 -0.1 -0.1 -0.3 3

 4 Foreign banking offices in U.S. ND 0.0 0.1 0.1 0.2 0.1 0.2 0.1 -0.0 0.2 4

 5 Banks in U.S.-affiliated areas ND 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.0 5

 6 Credit unions ND -0.0 0.0 0.0 0.0 -0.0 -0.2 -0.1 -0.1 -0.2 6

 7 Net change in assets ND 0.0 2.0 2.5 -3.6 2.4 3.3 -0.1 -0.3 -1.4 7

 8 Rest of the world ND -0.2 0.1 0.2 0.3 0.2 0.6 0.1 -0.1 0.0 8

 9 Monetary authority ND -0.2 -0.0 0.0 -0.0 0.9 -0.2 -0.1 -0.1 -0.1 9

 10 U.S.-chartered depository institutions ND 0.4 1.9 2.3 -3.9 1.3 2.9 -0.1 -0.0 -1.3 10

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

 12 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Discrepancy ND -0.2 0.2 -0.1 0.1 0.1 -0.6 -0.0 -0.0 -0.2 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority ND 0.2 0.2 -0.2 0.0 0.2 0.5 0.1 -0.2 -0.0 14

 15 Asset: U.S.-chartered depository institutions ND 0.2 0.2 -0.2 0.0 0.2 0.5 0.1 -0.2 -0.0 15

 Depository institution reserves:

 16 Liab.: Monetary authority ND 0.2 1.8 2.6 -3.9 1.1 2.4 -0.1 0.2 -1.3 16

 17 Asset: U.S.-chartered depository institutions ND 0.2 1.8 2.6 -3.9 1.1 2.4 -0.1 0.2 -1.3 17

 18 Foreign banking offices in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Other transactions with the monetary authority

 20 Liab: U.S.-chartered depository institutions ND -0.2 -0.0 0.0 -0.0 0.9 -0.2 -0.1 -0.1 -0.1 20

 21 Asset: Monetary authority ND -0.2 -0.0 0.0 -0.0 0.9 -0.2 -0.1 -0.1 -0.1 21

 22 Federal Reserve float ND 0.0 -0.0 0.0 -0.0 0.8 -0.2 -0.2 -0.0 -0.1 22

 23 Loans ND -0.2 0.0 -0.0 -0.0 0.1 -0.0 0.1 -0.1 -0.0 23

 Transactions with banks in foreign countries (net):

 24 Liab.: U.S.-chartered depository institutions (net) ND -0.2 0.1 0.0 0.1 0.2 0.2 -0.1 -0.1 -0.1 24

 25 Due to foreign affiliates ND -0.2 0.1 0.0 0.1 0.2 0.2 -0.1 -0.1 -0.1 25

 26 - Due from foreign affiliates ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Foreign banking offices in U.S. (net) ND 0.1 0.1 0.2 0.2 0.2 0.3 0.2 0.0 0.2 27

 28 Due to foreign affiliates ND 0.1 0.1 0.2 0.2 0.2 0.3 0.2 0.0 0.2 28

 29 - Due from foreign affiliates ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Less: Deposits at foreign banks ND 0.0 0.1 -0.0 0.0 0.1 -0.2 0.0 -0.0 0.1 30

 31 U.S.-chartered depository institutions ND 0.0 0.1 -0.0 -0.0 0.1 -0.2 0.0 -0.0 0.1 31

 32 Foreign banking offices in U.S. ND -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Asset: Rest of the world (1) ND -0.2 0.1 0.2 0.3 0.2 0.6 0.1 -0.1 0.0 33

 Transactions between U.S. depository institutions (net) (2):

 34 U.S.-chartered depository institutions (net) ND -0.2 0.2 -0.1 0.1 0.1 -0.3 0.1 0.1 -0.0 34

 35 Due to (3): ND -0.2 0.2 -0.1 0.2 0.1 -0.3 0.1 0.1 -0.0 35

 36 Foreign banking offices in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Banks in U.S.-affiliated areas ND -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 0.0 -0.0 37

 38 Credit unions ND 0.0 -0.0 -0.0 -0.0 0.0 0.2 0.1 0.1 0.2 38

 39 - Due from: Foreign banking offices in U.S. ND -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Unallocated (2) ND -0.2 0.2 -0.1 0.1 0.1 -0.6 -0.0 -0.0 -0.2 40

(1) Sum of lines 24 and 27 less line 30.

(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 40), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 36, 37, 38, and 40.
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38 Historical Annuals, 1945-1954, June 6, 2013

F.204 Checkable Deposits and Currency

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net change in liabilities ND -14.6 1.1 -0.6 -0.0 5.3 7.2 6.5 0.0 4.6 1

 2 Monetary authority ND -0.7 -1.1 0.1 -0.8 -0.4 0.4 1.3 -0.1 0.1 2

 3 Federal government cash and deposits ND -0.6 -0.5 0.2 -0.3 -0.2 -0.4 0.1 -0.6 0.3 3

 4 Due to government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Deposits due to foreign ND -0.4 -0.4 0.2 0.1 -0.2 -0.1 0.0 -0.1 0.1 5

 6 Currency outside banks ND 0.3 -0.3 -0.4 -0.7 -0.0 0.9 1.2 0.6 -0.2 6

 7 U.S.-chartered depository institutions ND -13.8 2.2 -0.5 0.8 5.5 6.7 5.1 0.1 4.4 7

 8 Federal government deposits ND -21.5 -1.6 1.0 0.7 -0.3 0.6 1.6 -0.8 0.0 8

 9 Deposits due to foreign ND 0.0 -0.2 0.3 -0.4 0.2 -0.2 0.2 -0.3 0.1 9

 10 Private domestic deposits ND 7.7 4.1 -1.8 0.4 5.6 6.4 3.3 1.2 4.3 10

 11 Foreign banking offices in U.S. ND -0.1 -0.0 -0.0 0.1 0.1 0.1 0.1 0.0 0.1 11

 12 Deposits due to foreign ND -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Private domestic deposits ND -0.0 -0.0 -0.0 0.0 0.1 0.1 0.0 0.0 0.1 13

 14 Banks in U.S.-affiliated areas ND -0.0 -0.0 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net change in assets ND -14.6 1.1 -0.6 -0.0 5.3 7.2 6.5 0.0 4.6 16

 17 Household sector ND 5.2 -0.1 -2.4 -1.8 2.6 4.4 2.2 1.3 2.1 17

 18 Nonfinancial business ND 1.2 2.1 -0.1 0.9 1.5 2.1 0.3 -0.3 2.2 18

 19 Corporate ND 0.6 2.0 0.4 1.0 1.3 1.6 0.8 -0.1 1.8 19

 20 Noncorporate ND 0.6 0.2 -0.5 -0.1 0.2 0.5 -0.5 -0.2 0.4 20

 21 State and local governments ND 0.9 0.7 0.5 0.2 0.5 0.4 0.3 0.4 0.4 21

 22 Federal government ND -22.7 -0.6 1.2 0.3 -0.2 0.1 2.4 -1.5 -0.3 22

 23 Rest of the world ND -0.4 -0.6 0.5 -0.2 0.0 -0.3 0.3 -0.5 0.2 23

 24 Checkable deposits ND -0.4 -0.6 0.5 -0.2 0.0 -0.3 0.3 -0.5 0.2 24

 25 Currency ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Financial sectors ND 0.4 0.3 0.0 0.1 0.5 0.3 0.1 0.2 0.0 26

 27 Property-casualty insurance companies ND 0.2 0.2 0.0 0.1 0.1 0.0 0.1 0.1 -0.1 27

 28 Life insurance companies ND -0.0 0.2 -0.1 -0.0 0.1 0.1 0.1 0.1 0.0 28

 29 Private pension funds ND 0.0 0.0 0.0 0.0 0.1 0.1 -0.0 0.1 -0.0 29

 30 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Government-sponsored enterprises ND 0.0 -0.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 -0.0 32

 33 Finance companies ND -0.0 -0.0 0.1 0.1 0.1 0.1 0.0 0.0 -0.0 33

 34 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Brokers and dealers ND 0.2 -0.1 -0.1 -0.1 0.1 -0.0 -0.1 -0.1 0.1 35

 36 Mail float ND 0.9 -0.8 -0.3 0.4 0.4 0.2 1.0 0.4 0.1 36
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Historical Annuals, 1945-1954, June 6, 2013 39

F.205 Time and Savings Deposits

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net change in liabilities ND 6.5 3.6 2.5 3.0 2.7 5.0 8.2 9.2 10.5 1

 2 Small time and savings deposits ND 6.3 3.4 2.2 2.6 2.5 5.0 7.9 8.3 9.4 2

 3 U.S.-chartered depository institutions ND 6.3 3.3 2.1 2.5 2.3 4.8 7.6 7.9 9.0 3

 4 Foreign banking offices in U.S. ND 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Banks in U.S.-affiliated areas ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit unions ND 0.1 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.3 6

 7 Large time deposits (1) ND 0.2 0.2 0.3 0.4 0.3 -0.0 0.3 0.9 1.2 7

 8 U.S.-chartered depository institutions ND 0.2 0.2 0.3 0.3 0.3 -0.0 0.3 0.9 1.1 8

 9 Foreign banking offices in U.S. ND 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Banks in U.S.-affiliated areas ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Net change in assets ND 6.5 3.6 2.5 3.0 2.7 5.0 8.2 9.2 10.5 12

 13 Household sector ND 6.3 3.5 2.2 2.6 2.4 5.0 7.5 8.2 9.3 13

 14 Nonfinancial business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 14

 15 Corporate ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 15

 16 Noncorporate ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 State and local governments ND 0.2 0.2 0.3 0.2 0.1 0.2 0.1 0.3 0.5 17

 18 Federal government ND 0.0 -0.0 0.0 0.1 0.0 0.1 0.1 -0.0 0.0 18

 19 Rest of the world ND 0.0 -0.0 0.0 0.1 0.2 -0.3 0.1 0.6 0.5 19

 20 Financial sectors ND -0.0 -0.0 0.0 0.0 0.0 0.0 0.4 0.1 0.1 20

 21 Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.1 0.1 21

 22 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Finance companies ND -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 25

 26 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Net issues ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Net purchases ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Household sector ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 State and local governments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Rest of the world ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Life insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12
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40 Historical Annuals, 1945-1954, June 6, 2013

F.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net change in liabilities ND 2.0 0.3 0.2 0.1 -0.2 0.1 -0.1 -0.1 -0.4 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Private depository institutions (net) ND -0.0 -0.1 -0.0 0.0 0.0 0.1 0.0 0.0 -0.1 3

 4 U.S.-chartered depository institutions (net) ND -0.0 -0.1 -0.0 0.0 0.0 0.1 0.0 0.0 -0.1 4

 5 Foreign banking offices in U.S. (net) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit unions (net) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Brokers and dealers (net) ND 2.0 0.4 0.3 0.1 -0.2 0.1 -0.1 -0.1 -0.3 10

 11 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Net change in assets ND 0.0 0.0 0.0 0.0 0.1 0.1 0.9 -0.1 -0.5 12

 13 Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 State and local governments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.2 -0.1 -0.0 14

 15 Rest of the world (net) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Monetary authority ND 0.0 0.0 0.0 0.0 0.1 0.1 0.5 -0.1 -0.6 16

 17 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 19

 20 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 22

 23 Government-sponsored enterprises (net) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Discrepancy--unallocated assets ND 2.0 0.3 0.2 0.1 -0.2 -0.0 -1.0 0.0 0.2 26
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Historical Annuals, 1945-1954, June 6, 2013 41

F.208 Open Market Paper

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total net issues, all types ND 0.3 0.2 0.2 0.2 0.2 0.5 0.4 0.4 0.3 1

 2 Commercial paper ND 0.2 0.2 0.2 0.2 0.1 0.4 0.4 0.3 -0.0 2

 3 Nonfinancial corporate business ND 0.0 0.0 -0.0 -0.0 0.0 0.1 0.1 0.1 0.1 3

 4 Foreign issues in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Nonfinancial ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Financial ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Financial sectors ND 0.1 0.1 0.2 0.2 0.0 0.4 0.4 0.2 -0.2 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Finance companies ND 0.1 0.1 0.2 0.2 0.0 0.4 0.4 0.2 -0.2 10

 11 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Bankers’ acceptances (1) ND 0.1 0.0 -0.0 0.0 0.1 0.1 0.0 0.1 0.3 14

 15 U.S.-chartered depository institutions ND 0.1 0.0 -0.0 0.0 0.1 0.1 0.0 0.1 0.2 15

 16 Foreign banking offices in U.S. ND 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.1 16

 17 Net purchases, by sector ND 0.3 0.2 0.2 0.2 0.2 0.5 0.4 0.4 0.3 17

 18 Household sector ND 0.1 0.0 0.1 0.1 0.1 0.3 0.2 0.3 -0.2 18

 19 Nonfinancial corporate business ND 0.0 0.1 0.1 0.1 -0.1 -0.1 0.1 0.0 0.1 19

 20 State and local governments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Rest of the world ND 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.2 21

 22 Monetary authority ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 U.S.-chartered depository institutions (1) ND 0.1 0.1 -0.1 -0.0 0.1 0.1 0.0 0.0 0.2 23

 24 Foreign banking offices in U.S. (1) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 24

 25 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Life insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Mutual funds ND 0.1 0.0 -0.0 0.1 0.1 0.2 -0.1 0.0 0.0 31

 32 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Funding corporations ND -0.1 -0.0 0.0 -0.0 -0.0 -0.1 0.1 0.0 -0.0 34

(1) Excludes banks’ holdings of own acceptances.
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42 Historical Annuals, 1945-1954, June 6, 2013

F.209 Treasury Securities

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net issues ND -23.2 -7.2 -6.6 2.5 -0.6 -0.3 5.0 5.4 2.3 1

 2 Savings bonds ND 1.2 2.1 1.6 1.5 0.3 -0.5 0.1 0.2 0.6 2

 3 Treasury bills ND -8.2 -10.7 2.4 3.2 -23.0 28.2 -8.8 7.5 2.1 3

 4 Other Treasury securities ND -16.3 1.4 -10.6 -2.2 22.1 -28.0 13.6 -2.3 -0.3 4

 5 Net purchases ND -23.2 -7.2 -6.6 2.5 -0.6 -0.3 5.0 5.4 2.3 5

 6 Household sector ND -1.4 -0.1 0.8 1.4 -0.8 -1.1 2.0 0.6 -2.0 6

 7 Savings bonds ND 1.2 2.1 1.6 1.5 0.3 -0.5 0.1 0.2 0.6 7

 8 Bills and other Treasury securities ND -2.6 -2.1 -0.8 -0.0 -1.0 -0.6 1.9 0.5 -2.5 8

 9 Nonfinancial corporate business ND -5.7 -0.5 0.6 1.8 3.2 0.8 -1.0 1.6 -1.7 9

 10 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 State and local governments ND -0.4 0.7 0.4 0.1 0.5 0.5 1.2 0.8 0.4 11

 12 Rest of the world ND -0.5 0.6 0.1 0.1 1.4 -0.0 0.2 0.6 0.4 12

 13 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Other Treasury securities ND -0.5 0.6 0.1 0.1 1.4 -0.0 0.2 0.6 0.4 14

 15 Monetary authority ND -0.9 -0.8 0.8 -4.4 1.8 2.9 0.4 1.3 -0.4 15

 16 Treasury bills ND 1.0 -4.0 -6.7 -0.5 -7.5 9.6 -7.5 2.7 7.6 16

 17 Other Treasury securities ND -2.0 3.2 7.4 -4.0 9.4 -6.7 7.9 -1.4 -8.1 17

 18 U.S.-chartered depository institutions ND -15.2 -5.6 -7.4 4.3 -5.5 -1.4 1.6 -0.0 5.2 18

 19 Foreign banking offices in U.S. ND -0.0 -0.0 0.0 0.1 0.1 0.1 0.0 -0.0 0.1 19

 20 Banks in U.S.-affiliated areas ND -0.1 -0.1 -0.1 -0.0 -0.0 -0.0 0.0 -0.0 0.0 20

 21 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Property-casualty insurance companies ND 0.6 0.6 0.5 0.4 0.4 0.2 0.4 0.3 0.1 22

 23 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other Treasury securities ND 0.6 0.6 0.5 0.4 0.4 0.2 0.4 0.3 0.1 24

 25 Life insurance companies ND 1.0 -1.6 -3.2 -1.5 -1.8 -2.5 -0.8 -0.4 -0.8 25

 26 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Other Treasury securities ND 1.0 -1.6 -3.2 -1.5 -1.8 -2.5 -0.8 -0.4 -0.8 27

 28 Private pension funds ND 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.2 0.0 28

 29 State and local govt. retirement funds ND 0.2 0.2 0.2 0.2 0.2 0.4 0.5 0.5 0.5 29

 30 Federal government retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Other Treasury securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Mutual funds ND -0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 34

 35 Closed-end funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Exchange-traded funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Government-sponsored enterprises 0.0 0.0 -0.0 0.1 -0.0 -0.1 0.1 0.1 0.1 0.3 37

 38 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Brokers and dealers ND -1.0 -0.7 0.6 -0.1 -0.1 -0.3 0.4 -0.1 0.0 39

 40 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 Memo:

 41 Federal government borrowing (1) ND -23.4 -7.2 -5.7 2.6 -1.2 -0.4 5.4 7.0 2.4 41

(1) Total issues of Treasury securities (line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 11).
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Historical Annuals, 1945-1954, June 6, 2013 43

F.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net issues ND 0.1 0.1 1.1 -0.0 -0.2 0.1 0.4 1.6 0.1 1

 2 Budget agencies ND -0.2 -0.0 0.8 0.1 -0.6 -0.1 0.4 1.6 0.1 2

 3 Government-sponsored enterprises ND 0.3 0.1 0.3 -0.1 0.4 0.2 0.0 -0.0 -0.0 3

 4 Agency- and GSE-backed mortgage pools ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Net purchases ND 0.1 0.1 1.1 -0.0 -0.2 0.1 0.4 1.6 0.1 5

 6 Household sector ND 0.0 0.1 -0.1 -0.1 0.1 -0.0 -0.1 0.2 -0.0 6

 7 Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 State and local governments 0.0 -0.1 0.0 0.2 0.0 -0.1 0.2 0.2 -0.1 0.1 8

 9 Federal government ND 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 0.0 9

 10 Rest of the world ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Monetary authority ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 U.S.-chartered depository institutions ND 0.2 0.0 1.0 0.0 -0.2 -0.1 0.3 1.5 -0.1 12

 13 Foreign banking offices in U.S. ND 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 ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Property-casualty insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Life insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 18

 19 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Federal government retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.209, line 35.
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44 Historical Annuals, 1945-1954, June 6, 2013

F.211 Municipal Securities and Loans

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net change in liabilities ND 0.1 1.6 1.3 1.0 4.5 2.1 6.9 5.4 5.7 1

 2 State and local governments ND 0.1 1.6 1.3 1.0 4.5 2.1 6.9 5.4 5.7 2

 3 Short-term (1) ND 0.0 0.2 0.2 0.2 0.4 0.3 0.2 0.2 0.1 3

 4 Long-term ND 0.1 1.4 1.2 0.8 4.1 1.8 6.7 5.2 5.5 4

 5 Nonprofit organizations (2) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Nonfinancial corporate business

 6 (industrial revenue bonds) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Net change in assets ND 0.1 1.6 1.3 1.0 4.5 2.1 6.9 5.4 5.7 7

 8 Household sector ND -0.1 0.6 0.2 -0.9 1.7 0.3 5.2 2.9 2.1 8

 9 Nonfinancial corporate business ND 0.1 0.0 0.1 0.0 0.2 0.2 -0.0 0.2 -0.0 9

 10 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 State and local governments ND -0.3 -0.0 0.0 0.3 0.3 0.0 0.1 0.2 0.2 11

 12 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 U.S.-chartered depository institutions ND 0.4 0.9 0.4 0.9 1.6 1.1 1.2 0.7 1.9 13

 14 Foreign banking offices in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 14

 15 Banks in U.S.-affiliated areas ND -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Credit unions 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 ND -0.0 0.1 0.2 0.3 0.3 0.3 0.4 0.7 0.8 17

 18 Life insurance companies ND -0.1 -0.0 0.3 0.2 0.1 -0.0 0.0 0.1 0.5 18

 19 State and local govt. retirement funds ND 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.3 19

 20 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Closed-end funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Government-sponsored enterprises ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Brokers and dealers ND 0.0 -0.1 0.0 -0.0 0.1 0.0 -0.2 0.2 -0.1 25

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

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
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Historical Annuals, 1945-1954, June 6, 2013 45

F.212 Corporate and Foreign Bonds

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net issues ND 0.9 2.9 4.8 3.2 2.1 4.0 4.7 4.8 3.2 1

 2 Nonfinancial corporate business ND 1.0 2.8 4.3 2.9 1.6 3.3 4.7 3.5 3.5 2

 3 Rest of the world (1) ND -0.1 -0.0 0.1 -0.0 0.3 0.3 0.0 -0.1 -0.1 3

 4 Financial sectors ND 0.1 0.1 0.4 0.3 0.2 0.4 0.0 1.4 -0.3 4

 5 U.S.-chartered depository institutions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 ABS issuers (net) (2) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Finance companies ND 0.1 0.1 0.4 0.3 0.2 0.4 0.0 1.4 -0.3 7

 8 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Net purchases (3) ND 0.9 2.9 4.8 3.2 2.1 4.0 4.7 4.8 3.2 12

 13 Household sector ND -0.9 -0.8 0.0 -0.4 -0.3 0.3 -0.3 -0.0 -1.1 13

 14 State and local governments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Federal government 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 (4) ND -0.3 0.1 -0.0 0.1 -0.0 0.0 0.0 0.0 0.0 16

 17 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other ND -0.3 0.1 -0.0 0.1 -0.0 0.0 0.0 0.0 0.0 18

 19 U.S.-chartered depository institutions ND 0.2 0.3 0.1 0.4 0.1 -0.0 0.2 0.3 0.1 19

 20 MBS and other ABS ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Other ND 0.2 0.3 0.1 0.4 0.1 -0.0 0.2 0.3 0.1 21

 22 Foreign banking offices in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 22

 23 Banks in U.S.-affiliated areas ND 0.0 -0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 -0.0 23

 24 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 MBS and other ABS ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Property-casualty insurance companies ND 0.0 0.1 0.1 -0.0 0.0 0.1 0.1 0.1 0.1 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other ND 0.0 0.1 0.1 -0.0 0.0 0.1 0.1 0.1 0.1 29

 30 Life insurance companies ND 1.8 3.0 4.2 2.6 1.8 2.7 3.1 2.7 2.1 30

 31 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other ND 1.8 3.0 4.2 2.6 1.8 2.7 3.1 2.7 2.1 32

 33 Private pension funds ND 0.2 0.2 0.2 0.2 0.2 0.7 1.1 1.1 1.3 33

 34 State and local govt. retirement funds ND 0.0 0.0 0.1 0.1 0.2 0.1 0.3 0.5 0.6 34

 35 Federal government retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Mutual funds ND 0.0 -0.0 0.0 0.0 0.0 0.0 0.1 -0.0 0.1 37

 38 Closed-end funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Exchange-traded funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

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

 43 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Brokers and dealers ND -0.1 0.0 0.0 0.2 -0.1 0.0 0.1 -0.0 0.1 45

 46 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

(1) Net purchases of foreign issues by U.S. residents.

(2) Net issuance less net acquisition of corporate bonds held as assets.

(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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46 Historical Annuals, 1945-1954, June 6, 2013

F.213 Corporate Equities (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net issues ND 1.2 1.5 1.1 1.5 1.5 2.3 2.6 2.5 1.6 1

 2 Nonfinancial corporate business ND 1.0 1.1 1.0 1.2 1.3 2.1 2.3 1.8 1.6 2

 3 Rest of the world (2) ND 0.1 0.0 -0.1 -0.0 -0.2 -0.2 0.0 0.1 0.3 3

 4 Financial sectors ND 0.1 0.4 0.2 0.3 0.4 0.4 0.3 0.6 -0.3 4

 5 U.S.-chartered depository institutions ND 0.1 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 5

 6 Property-casualty insurance companies ND 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.1 0.1 6

 7 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Closed-end funds ND 0.0 0.3 0.1 0.3 0.3 0.2 0.1 0.4 -0.6 8

 9 Exchange-traded funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Funding corporations (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net purchases ND 1.2 1.5 1.1 1.5 1.5 2.3 2.6 2.5 1.6 15

 16 Household sector ND 1.0 1.1 0.9 0.6 0.8 1.5 0.8 0.6 -0.0 16

 17 State and local governments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Rest of the world (4) ND -0.1 -0.2 -0.1 -0.0 0.0 0.1 0.3 -0.1 0.5 19

 20 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 U.S.-chartered depository institutions ND 0.0 -0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 21

 22 Foreign banking offices in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Property-casualty insurance companies ND -0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 23

 24 Life insurance companies ND 0.3 0.2 0.0 0.2 0.3 0.1 0.2 0.1 0.3 24

 25 Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.8 1.0 25

 26 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Federal government retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Mutual funds ND 0.1 0.2 0.1 0.2 0.1 0.2 0.4 0.4 0.3 28

 29 Closed-end funds ND 0.0 0.2 0.1 0.2 0.2 0.2 0.0 0.4 -0.6 29

 30 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Brokers and dealers ND -0.1 0.0 0.0 0.2 -0.1 0.0 -0.0 0.0 -0.1 31

 32 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

(1) Excludes mutual fund shares shown on table F.214.

(2) Net purchases of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

(3) 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.

(4) Net purchases of U.S. issues by foreign residents.

F.214 Mutual Fund Shares (1)

Billions of dollars

 1 Net issues ND 0.2 0.2 0.1 0.3 0.3 0.4 0.5 0.4 0.4 1

 2 Net purchases ND 0.2 0.2 0.1 0.3 0.3 0.4 0.5 0.4 0.4 2

 3 Household sector ND 0.2 0.2 0.1 0.3 0.3 0.4 0.5 0.4 0.4 3

 4 Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 State and local governments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Rest of the world ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 U.S.-chartered depository institutions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Property-casualty insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Life insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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Historical Annuals, 1945-1954, June 6, 2013 47

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net change in liabilities ND 5.2 4.1 1.5 -1.8 5.6 5.3 2.1 -1.3 0.0 1

 2 Household sector ND -0.1 -0.0 -0.1 -0.0 0.2 0.2 -0.2 0.1 0.2 2

 3 Corporate business ND 3.6 3.1 0.7 -1.9 3.6 4.2 0.8 -0.6 -0.8 3

 4 Noncorporate business ND 0.8 0.6 0.0 -0.1 0.9 0.8 0.4 -0.5 0.2 4

 5 Rest of the world ND 0.3 0.2 0.2 -0.3 -0.3 0.2 0.0 -0.1 0.5 5

 6 Foreign official institutions ND 0.0 0.1 -0.0 -0.0 0.1 0.2 -0.0 -0.1 0.2 6

 7 Foreign banks ND 0.3 -0.1 0.2 -0.3 -0.0 0.1 -0.1 -0.0 0.2 7

 8 Other foreign ND -0.0 0.2 0.0 -0.0 -0.3 -0.1 0.2 -0.1 0.1 8

 9 Financial sectors ND 0.5 0.3 0.6 0.5 1.2 -0.1 1.1 -0.2 -0.1 9

 10 Finance companies ND 0.5 0.3 0.6 0.5 1.2 -0.1 1.1 -0.2 -0.1 10

 11 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net change in assets ND 5.2 4.1 1.5 -1.8 5.6 5.3 2.1 -1.3 0.0 15

 16 Monetary authority (2) ND 0.1 -0.1 0.1 -0.1 -0.1 0.0 0.0 -0.0 0.1 16

 17 U.S.-chartered depository institutions ND 5.0 4.2 1.3 -1.8 5.6 5.2 2.0 -1.2 -0.1 17

 18 Foreign banking offices in U.S. ND 0.1 0.1 0.1 0.1 0.1 0.1 0.1 -0.0 0.0 18

 19 Banks in U.S.-affiliated areas ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table F.108.
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48 Historical Annuals, 1945-1954, June 6, 2013

F.216 Other Loans and Advances

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total other loans and advances ND 2.7 4.5 1.8 0.7 1.4 1.5 1.5 0.5 0.1 1

 2 U.S. government loans ND 2.6 4.4 1.3 0.8 0.4 0.7 1.0 0.2 -0.4 2

 3 Liab.: Household sector ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business ND -0.2 0.0 -0.0 0.1 -0.0 0.0 0.0 0.0 -0.1 4

 5 Nonfinancial noncorporate business ND 0.1 0.2 0.2 0.3 0.2 0.2 0.2 0.3 0.3 5

 6 State and local governments ND -0.0 0.0 0.1 -0.1 0.1 0.3 0.3 -0.4 -0.3 6

 7 Rest of the world ND 2.7 4.1 1.1 0.5 0.1 0.2 0.4 0.2 -0.2 7

 8 Government-sponsored enterprises ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Foreign loans to U.S. corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Liab.: Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions ND 0.1 0.0 -0.0 0.0 0.1 0.1 0.0 0.1 0.2 13

 14 Foreign banking offices in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 14

 15 Liab.: Nonfinancial corporate business ND 0.1 -0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.2 15

 16 Rest of the world ND 0.0 0.0 -0.0 -0.0 0.1 0.1 -0.0 0.0 0.1 16

 17 Holding company loans ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Liab.: Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Policy loans (Household liability) ND -0.1 0.0 0.1 0.2 0.2 0.2 0.1 0.2 0.2 20

 21 Asset: Federal government ND -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Life insurance companies ND -0.1 0.0 0.1 0.2 0.2 0.2 0.1 0.2 0.2 22

 23 Govt.-sponsored enterprises loans (1) ND 0.2 0.3 0.2 -0.1 0.5 0.3 -0.0 -0.1 -0.0 23

 24 Liab.: Household sector (SLMA) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 25

 26 Nonfinancial noncorporate business (FCS) ND 0.1 0.2 0.2 0.0 0.1 0.2 0.0 -0.2 0.0 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) ND 0.1 0.1 0.1 -0.1 0.4 0.1 -0.0 0.1 -0.1 27

 28 Credit unions (FHLB) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Life insurance companies (FHLB) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Securitized loans held by ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Liab.: Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Finance company loans to business ND -0.1 -0.2 0.1 -0.2 0.2 0.2 0.4 0.1 0.0 32

 33 Liab.: Nonfinancial corporate business ND -0.0 -0.2 0.1 -0.2 0.2 0.2 0.4 0.1 0.0 33

 34 Nonfinancial noncorporate business ND -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Loans to nonfinancial corporate business (2) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Asset: Household sector ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Life insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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Historical Annuals, 1945-1954, June 6, 2013 49

F.217 Total Mortgages

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net change in mortgages ND 6.2 7.2 7.4 6.5 10.2 9.4 9.0 9.8 12.2 1

 2 Home ND 4.4 5.2 5.1 4.3 7.6 6.5 6.7 7.5 9.4 2

 3 Multifamily residential ND 0.3 0.5 0.9 1.2 1.5 1.3 0.8 0.6 0.5 3

 4 Commercial ND 1.3 1.3 1.1 0.7 0.6 1.0 0.9 1.2 1.7 4

 5 Farm ND 0.1 0.2 0.2 0.3 0.5 0.6 0.6 0.5 0.5 5

 6 Net borrowing ND 6.2 7.2 7.4 6.5 10.2 9.4 9.0 9.8 12.2 6

 7 Household sector ND 4.5 5.3 5.4 4.6 7.9 6.8 7.0 7.8 9.6 7

 8 Nonfinancial business ND 1.7 1.9 2.0 1.9 2.3 2.6 2.1 2.0 2.5 8

 9 Corporate ND 0.8 1.2 1.0 0.6 0.5 0.6 0.2 0.7 0.5 9

 10 Noncorporate ND 0.9 0.7 1.0 1.2 1.8 2.0 1.8 1.3 2.0 10

 11 Federal government ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Net change in assets ND 6.2 7.2 7.4 6.5 10.2 9.4 9.0 9.8 12.2 13

 14 Household sector ND 1.5 1.4 1.2 0.7 0.7 0.9 0.7 1.0 1.1 14

 15 Nonfinancial corporate business ND 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 15

 16 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 State and local governments ND 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 17

 18 Federal government ND -0.3 -0.1 0.0 0.5 0.3 0.6 0.6 0.4 0.1 18

 19 U.S.-chartered depository institutions ND 4.3 4.2 3.8 2.9 5.5 4.6 5.3 6.1 7.7 19

 20 Foreign banking offices in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Banks in U.S.-affiliated areas ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Credit unions ND 0.0 0.1 0.1 0.0 0.1 0.0 -0.0 -0.0 0.0 22

 23 Property-casualty insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Life insurance companies ND 0.5 1.5 2.2 2.1 3.2 3.2 1.9 2.1 2.7 24

 25 Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 26

 27 Government-sponsored enterprises (1) ND -0.1 -0.1 -0.0 0.0 0.0 0.1 0.1 0.1 0.1 27

 28 Agency- and GSE-backed mortgage pools ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Finance companies ND 0.1 0.1 -0.0 0.1 0.2 -0.1 0.2 0.0 0.2 30

 31 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31
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50 Historical Annuals, 1945-1954, June 6, 2013

F.218 Home Mortgages (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net borrowing ND 4.4 5.2 5.1 4.3 7.6 6.5 6.7 7.5 9.4 1

 2 Household sector ND 4.4 5.2 5.1 4.3 7.6 6.5 6.7 7.5 9.4 2

 3 Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Net change in assets ND 4.4 5.2 5.1 4.3 7.6 6.5 6.7 7.5 9.4 5

 6 Household sector ND 0.8 0.6 0.5 0.2 0.2 0.3 0.1 0.3 0.2 6

 7 Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments ND 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.1 0.1 9

 10 Federal government ND -0.2 -0.0 0.1 0.5 0.3 0.6 0.5 0.2 0.0 10

 11 U.S.-chartered depository institutions ND 3.4 3.5 2.9 2.3 4.4 3.5 4.6 5.4 6.9 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Banks in U.S.-affiliated areas ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Credit unions ND 0.0 0.1 0.1 0.0 0.1 0.0 -0.0 -0.0 0.0 14

 15 Life insurance companies ND 0.2 1.0 1.4 1.2 2.4 2.1 1.1 1.4 2.0 15

 16 Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Government-sponsored enterprises ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Agency- and GSE-backed mortgage pools ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Finance companies ND 0.1 0.1 -0.0 0.1 0.1 -0.1 0.2 0.0 0.2 21

 22 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 Memo:

 23 Home equity loans included above (2) ND ND ND ND ND ND ND ND ND ND 23

 24 U.S.-chartered depository institutions ND ND ND ND ND ND ND ND ND ND 24

 25 Foreign banking offices in U.S. ND ND ND ND ND ND ND ND ND ND 25

 26 Credit unions ND ND ND ND ND ND ND ND ND ND 26

 27 ABS issuers ND ND ND ND ND ND ND ND ND ND 27

 28 Finance companies ND ND ND ND ND ND ND ND ND ND 28

(1) Mortgages on 1-4 family properties including mortages 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.

F.219 Multifamily Residential Mortgages

Billions of dollars

 1 Net borrowing ND 0.3 0.5 0.9 1.2 1.5 1.3 0.8 0.6 0.5 1

 2 Nonfinancial corporate business ND 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.0 2

 3 Nonfinancial noncorporate business ND 0.3 0.5 0.8 1.1 1.4 1.3 0.8 0.6 0.5 3

 4 Federal government ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Net change in assets ND 0.3 0.5 0.9 1.2 1.5 1.3 0.8 0.6 0.5 6

 7 Household sector ND 0.1 0.2 0.2 0.3 0.3 0.3 0.2 0.2 0.3 7

 8 Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 State and local governments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Federal government ND -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 11

 12 U.S.-chartered depository institutions ND 0.1 0.2 0.3 0.3 0.8 0.6 0.3 0.2 0.1 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies ND 0.1 0.1 0.3 0.5 0.3 0.4 0.3 0.1 0.0 14

 15 Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Government-sponsored enterprises ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Agency- and GSE-backed mortgage pools ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Finance companies ND 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 -0.0 0.0 20

 21 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21
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Historical Annuals, 1945-1954, June 6, 2013 51

F.220 Commercial Mortgages

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net borrowing ND 1.3 1.3 1.1 0.7 0.6 1.0 0.9 1.2 1.7 1

 2 Household sector ND 0.1 0.1 0.2 0.2 0.3 0.3 0.3 0.3 0.3 2

 3 Nonfinancial corporate business ND 0.8 1.1 1.0 0.6 0.4 0.5 0.2 0.6 0.4 3

 4 Nonfinancial noncorporate business ND 0.4 0.1 -0.1 -0.2 -0.0 0.2 0.5 0.2 1.0 4

 5 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Net change in assets ND 1.3 1.3 1.1 0.7 0.6 1.0 0.9 1.2 1.7 6

 7 Household sector ND 0.5 0.5 0.3 0.1 0.0 0.1 0.2 0.3 0.6 7

 8 Nonfinancial corporate business ND 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 8

 9 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 State and local governments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Federal government ND -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 11

 12 U.S.-chartered depository institutions ND 0.6 0.4 0.4 0.2 0.3 0.4 0.3 0.5 0.7 12

 13 Foreign banking offices in U.S. ND 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 ND 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 14

 15 Property-casualty insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Life insurance companies ND 0.2 0.4 0.3 0.3 0.3 0.5 0.4 0.4 0.5 16

 17 Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Agency- and GSE-backed mortgage pools ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Finance companies ND 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 21

 22 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

F.221 Farm Mortgages (1)

Billions of dollars

 1 Net borrowing ND 0.1 0.2 0.2 0.3 0.5 0.6 0.6 0.5 0.5 1

 2 Nonfinancial corporate business ND 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Nonfinancial noncorporate business ND 0.1 0.1 0.2 0.3 0.5 0.6 0.6 0.5 0.5 3

 4 Net change in assets ND 0.1 0.2 0.2 0.3 0.5 0.6 0.6 0.5 0.5 4

 5 Household sector ND 0.1 0.1 0.1 0.1 0.2 0.3 0.2 0.2 0.1 5

 6 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 State and local governments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Federal government ND -0.1 -0.1 -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions ND 0.2 0.1 0.1 0.0 0.1 0.0 0.1 0.0 0.1 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies ND 0.0 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 11

 12 State and local govt. retirement funds ND -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises ND -0.1 -0.1 -0.0 0.0 0.0 0.1 0.1 0.1 0.1 13

 14 Agency- and GSE-backed mortgage pools ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

(1) Excludes mortgages on farm houses.
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52 Historical Annuals, 1945-1954, June 6, 2013

F.222 Consumer Credit

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net change in liabilities (Households) ND 3.0 3.5 3.0 3.0 4.6 1.4 5.2 4.1 1.3 1

 2 Net change in assets ND 3.0 3.5 3.0 3.0 4.6 1.4 5.2 4.1 1.3 2

 3 Nonfinancial corporate business ND 0.5 0.8 0.8 0.6 1.1 0.6 -0.2 0.3 0.3 3

 4 Nonfinancial noncorporate business ND 0.1 0.1 0.1 0.1 0.2 0.1 1.4 0.1 0.0 4

 5 Federal government (1) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 U.S.-chartered depository institutions ND 1.8 1.7 1.3 1.2 2.2 0.3 2.2 1.8 0.4 6

 7 Credit unions ND 0.0 0.0 0.0 0.1 0.1 0.1 0.3 0.3 0.2 7

 8 Government-sponsored enterprises ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Finance companies ND 0.6 0.9 0.8 1.1 1.0 0.3 1.5 1.6 0.4 10

(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.

F.223 Trade Credit

Billions of dollars

 1 Net change in trade payables ND 6.1 3.8 3.0 0.2 10.5 2.0 2.1 0.5 4.3 1

 2 Household sector ND 0.2 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.1 2

 3 Nonfinancial corporate business ND 6.4 3.4 1.6 -0.3 8.0 -0.4 0.8 -0.3 2.0 3

 4 Nonfinancial noncorporate business ND 1.5 1.0 1.1 0.3 1.3 0.3 0.6 0.4 1.7 4

 5 State and local governments ND 0.1 -0.1 0.1 0.2 0.1 0.3 0.5 0.5 0.6 5

 6 Federal government ND -2.0 -0.7 0.0 0.0 1.1 1.6 0.1 -0.2 -0.2 6

 7 Rest of the world ND -0.0 0.1 0.0 -0.0 -0.0 0.0 0.0 -0.0 0.1 7

 8 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 8

 9 Net change in trade receivables ND 3.2 5.5 2.2 -0.9 11.9 4.5 5.9 -0.5 3.8 9

 10 Nonfinancial corporate business ND 2.8 5.0 2.0 -1.0 9.9 3.4 3.9 -0.8 3.4 10

 11 Nonfinancial noncorporate business ND 1.0 0.3 0.1 0.1 1.1 -0.1 0.9 0.4 -0.1 11

 12 State and local governments ND 0.1 0.2 0.1 -0.0 0.5 0.2 0.1 0.0 0.2 12

 13 Federal government ND -0.8 -0.1 0.0 0.0 0.4 0.9 1.0 -0.0 0.2 13

 14 Rest of the world ND -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 -0.1 -0.0 14

 15 Property-casualty insurance companies ND 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 15

 16 ABS issuers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Discrepancy ND 2.9 -1.7 0.7 1.1 -1.4 -2.5 -3.8 1.0 0.5 17

F.224 Security Credit

Billions of dollars

 1 Net change in liabilities ND -4.3 -1.2 0.2 0.8 1.1 -0.4 0.6 0.9 2.1 1

 2 Household sector ND -0.7 0.0 -0.0 0.4 0.5 -0.1 0.1 0.4 0.8 2

 3 Rest of the world ND -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Brokers and dealers ND -3.6 -1.2 0.2 0.4 0.6 -0.3 0.5 0.5 1.3 4

 5 Customer credit balances (HH) ND 0.0 -0.1 -0.0 0.1 0.3 -0.1 -0.2 -0.0 0.3 5

 6 From U.S.-chartered depository institutions ND -3.7 -1.1 0.3 0.3 0.2 -0.3 0.6 0.4 0.9 6

 7 From foreign banking offices in U.S. ND 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 7

 8 Net change in assets ND -4.3 -1.2 0.2 0.8 1.1 -0.4 0.6 0.9 2.1 8

 9 Household sector ND 0.0 -0.1 -0.0 0.0 0.3 -0.1 -0.2 -0.0 0.3 9

 10 Rest of the world ND 0.0 -0.0 -0.0 0.0 0.0 -0.0 -0.0 -0.0 0.0 10

 11 U.S.-chartered depository institutions ND -3.7 -1.1 0.3 0.3 0.2 -0.3 0.6 0.4 0.9 11

 12 Foreign banking offices in U.S. ND 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 12

 13 Brokers and dealers ND -0.7 0.0 -0.0 0.4 0.5 -0.1 0.1 0.4 0.8 13
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Historical Annuals, 1945-1954, June 6, 2013 53

F.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Life insurance reserves:

 1 Net change in liabilities ND 3.8 3.2 2.8 2.8 2.9 2.7 2.9 3.0 2.7 1

 2 Federal government ND 1.2 0.6 0.2 0.1 0.3 0.2 0.0 0.1 -0.3 2

 3 Life insurance companies ND 2.6 2.5 2.6 2.7 2.6 2.6 2.8 2.9 3.0 3

 4 Net change in assets ND 3.8 3.2 2.8 2.8 2.9 2.7 2.9 3.0 2.7 4

 5 Households ND 3.8 3.2 2.8 2.8 2.9 2.7 2.9 3.0 2.7 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 Pension fund reserves:

 8 Net change in liabilities ND 1.2 2.2 2.4 2.7 2.0 3.3 5.8 5.3 5.6 8

 9 Life insurance companies ND 0.4 0.5 0.6 0.6 0.8 1.0 1.1 1.1 1.2 9

 10 Private pension funds (1) ND 0.2 0.5 0.5 0.5 -0.3 0.9 2.6 2.3 2.5 10

 11 State and local govt. retirement funds ND 0.3 0.3 0.4 0.5 0.7 0.8 1.0 1.3 1.5 11

 12 Federal government retirement funds (2) ND 0.4 0.8 0.8 1.0 0.8 0.7 1.0 0.5 0.4 12

 13 Net change in assets (Households) (3) ND 1.2 2.2 2.4 2.7 2.0 3.3 5.8 5.3 5.6 13

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(3) Excludes all individual retirement accounts (IRAs) (table F.225.i), except those at life insurance companies.

F.226 Taxes Payable by Businesses

Billions of dollars

 1 Net change in taxes payable by all ND -1.9 2.1 0.9 -2.1 7.4 4.7 -2.8 1.1 -3.5 1

 businesses

 2 Nonfinancial corporate business ND -2.0 2.2 0.8 -2.3 7.3 4.5 -3.2 0.6 -3.2 2

 3 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 U.S.-chartered depository institutions ND 0.0 -0.1 0.0 0.0 0.1 0.2 0.2 0.2 -0.0 4

 5 Property-casualty insurance companies ND -0.0 0.0 0.1 0.1 -0.1 -0.0 0.1 0.1 -0.1 5

 6 Life insurance companies ND -0.0 -0.0 0.0 0.0 0.0 0.1 0.0 0.1 -0.0 6

 7 Finance companies ND 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.1 -0.1 7

 8 Brokers and dealers ND 0.0 -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 8

 9 Net change in business taxes receivable ND 5.8 9.6 8.2 5.2 15.6 13.7 6.0 10.6 6.0 9

 10 State and local governments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.0 10

 11 Federal government ND 5.8 9.6 8.2 5.2 15.6 13.7 6.0 10.7 6.0 11

 12 Discrepancy ND -7.8 -7.5 -7.3 -7.3 -8.2 -9.0 -8.8 -9.5 -9.5 12

F.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment ND 1.3 -3.1 4.7 1.1 -0.6 2.0 2.5 2.9 -1.1 1

 2 Nonfinancial noncorporate business ND 1.3 -3.1 4.7 1.1 -0.6 2.0 2.5 2.9 -1.1 2

 3 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3
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54 Historical Annuals, 1945-1954, June 6, 2013

F.228 Total Miscellaneous Financial Claims

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net change in liabilities ND 2.3 6.6 2.8 3.8 5.1 2.8 4.7 3.3 4.8 1

 2 Household sector ND 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Nonfinancial corporate business ND 0.5 0.6 0.6 0.5 1.3 0.4 0.9 0.4 0.9 3

 4 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal government ND 0.3 0.6 0.5 0.6 0.5 0.7 0.6 0.3 0.2 5

 6 Rest of the world ND 0.2 3.5 0.5 1.0 1.3 0.8 1.0 0.5 0.7 6

 7 Monetary authority ND -0.1 0.2 -0.0 0.2 0.4 -0.4 0.1 0.0 -0.0 7

 8 U.S.-chartered depository institutions ND 0.4 0.2 0.1 0.2 0.4 0.1 0.4 0.1 0.6 8

 9 Foreign banking offices in U.S. ND 0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 -0.1 9

 10 Banks in U.S.-affiliated areas ND -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 0.0 -0.0 10

 11 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 11

 12 Property-casualty insurance companies ND 0.7 0.8 0.7 0.7 0.5 0.9 1.0 0.8 0.6 12

 13 Life insurance companies ND 0.3 0.4 0.3 0.4 0.3 0.4 -0.0 0.5 0.7 13

 14 Government-sponsored enterprises ND -0.3 0.0 0.0 0.1 0.1 0.2 0.0 0.2 0.4 14

 15 Finance companies ND 0.2 0.2 -0.0 0.2 0.3 -0.1 0.5 0.2 0.7 15

 16 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Brokers and dealers ND -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.0 -0.0 17

 18 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Funding corporations ND -0.1 -0.0 0.0 -0.0 -0.0 -0.1 0.1 0.0 -0.0 19

 20 Net change in assets ND 1.3 5.1 2.9 3.2 2.5 3.4 5.5 4.4 3.5 20

 21 Household sector ND 0.8 0.5 0.4 0.4 0.3 0.6 0.7 0.6 0.4 21

 22 Nonfinancial corporate business ND 0.2 1.4 1.5 1.3 1.1 1.4 1.8 1.9 1.4 22

 23 Nonfinancial noncorporate business ND 0.2 0.2 0.2 0.2 0.1 0.2 0.3 0.3 0.3 23

 24 State and local governments ND 0.1 0.2 -0.0 -0.1 0.4 -0.1 -0.4 0.0 -0.1 24

 25 Federal government ND -0.3 0.1 -0.1 0.1 -0.0 -0.1 -0.0 -0.0 0.2 25

 26 Rest of the world ND 0.1 1.4 0.1 -0.2 -0.2 0.5 0.6 0.4 -0.6 26

 27 Monetary authority ND -0.0 0.1 0.0 -0.0 0.0 0.0 0.0 -0.0 -0.0 27

 28 U.S.-chartered depository institutions ND -0.3 0.0 -0.4 0.3 0.1 -0.1 0.6 0.3 0.7 28

 29 Foreign banking offices in U.S. ND -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 29

 30 Banks in U.S.-affiliated areas ND 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 30

 31 Credit unions ND -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 31

 32 Property-casualty insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Life insurance companies ND 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.1 0.2 33

 34 Private pension funds ND -0.1 0.2 0.2 0.1 -0.6 0.0 0.4 0.0 0.1 34

 35 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Federal government retirement funds ND 0.4 0.8 0.8 1.0 0.8 0.7 1.0 0.5 0.4 36

 37 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Government-sponsored enterprises ND -0.0 -0.0 -0.0 0.0 0.0 -0.0 -0.0 0.1 0.1 39

 40 Finance companies ND 0.1 0.1 -0.0 0.1 0.2 -0.1 0.2 0.0 0.2 40

 41 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -0.0 0.2 42

 43 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Discrepancy ND 1.0 1.4 -0.2 0.5 2.7 -0.5 -0.9 -1.1 1.3 45
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Historical Annuals, 1945-1954, June 6, 2013 55

F.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 U.S. direct investment abroad (1):

 1 Liab.: Rest of the world ND 0.2 0.7 0.7 0.7 0.6 0.5 0.9 0.7 0.7 1

 2 Equity ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Reinvested earnings ND 0.2 0.7 0.7 0.7 0.6 0.5 0.9 0.7 0.7 3

 4 Intercompany accounts ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Nonfinancial corporate business ND 0.2 0.7 0.7 0.6 0.6 0.5 0.8 0.7 0.6 5

 6 U.S.-chartered depository institutions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Property-casualty insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Life insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Finance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 Foreign direct investment in U.S. (1):

 11 Liab.: Nonfinancial corporate business ND -0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 11

 12 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Foreign banking offices in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Property-casualty insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Life insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Finance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Brokers and dealers ND 0.0 0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 17

 18 Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Asset: Rest of the world ND -0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.1 19

 20 Equity ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Reinvested earnings ND -0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.1 21

 22 Intercompany accounts ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 Federal government equity in IBRD, etc.:

 23 Liab.: Rest of the world ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Asset: Federal government ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 Federal Reserve Bank stock:

 25 Liab.: Monetary authority ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Asset: U.S.-chartered depository institutions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 Equity in govt.-sponsored enterprises:

 27 Liab.: Government-sponsored enterprises ND -0.1 -0.0 0.0 -0.0 0.0 0.0 0.0 0.1 0.1 27

 28 Asset: Nonfin. corporate business (Fannie Mae and FCS) ND -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Nonfinancial noncorporate (FCS) ND -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Federal government ND -0.1 -0.0 0.0 -0.0 -0.0 -0.1 0.0 0.0 0.1 30

 31 U.S.-chartered depository institutions (FHLB) ND 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 31

 32 Credit unions (FHLB) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Life insurance companies (FHLB) ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 Holding company net transactions with subsidiaries:

 34 Liab.: U.S.-chartered depository institutions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Finance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Rest of the world ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Asset: Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 NFC investment in finance company subsidiaries:

 41 Liab.: Finance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Asset: Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 Funding corporations’ investment in subsidiaries:

 43 Liab.: Foreign banking offices in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Asset: Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 Equity investment under Public-Private Inv. Program:

 46 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Asset: Households (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

(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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56 Historical Annuals, 1945-1954, June 6, 2013

F.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world ND -0.2 0.1 -0.1 0.2 0.0 0.0 -0.0 -0.0 0.1 1

 2 Asset: Federal government ND -0.2 0.1 -0.1 0.2 0.0 0.0 -0.0 -0.0 0.1 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government ND 0.4 0.1 -0.1 -0.1 -0.3 -0.2 -0.2 -0.2 -0.2 4

 5 Asset: Household sector ND 0.4 0.1 -0.1 -0.1 -0.3 -0.2 -0.2 -0.2 -0.2 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises ND 0.0 0.0 0.0 0.1 -0.0 0.0 0.2 0.1 0.2 6

 7 Asset: U.S.-chartered depository institutions ND 0.0 0.0 0.0 0.1 -0.0 0.0 0.2 0.1 0.2 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector ND 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 8

 9 Asset: Life insurance companies ND 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies ND 0.2 0.1 0.2 0.2 0.2 0.3 0.3 0.4 0.4 10

 11 Accident and health ND 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.0 11

 12 Policy dividend accumulation ND 0.2 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.3 12

 13 Contract claims 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Asset: Household sector ND 0.2 0.1 0.2 0.2 0.2 0.3 0.3 0.4 0.4 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies ND 0.7 0.8 0.7 0.7 0.5 0.9 1.0 0.8 0.6 15

 16 Asset: Household sector ND 0.2 0.3 0.3 0.3 0.4 0.5 0.6 0.4 0.2 16

 17 Nonfinancial corporate business ND 0.3 0.3 0.2 0.2 0.0 0.1 0.1 0.1 0.1 17

 18 Nonfinancial noncorporate business ND 0.2 0.3 0.2 0.2 0.1 0.2 0.3 0.3 0.3 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Asset: Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Pension fund contributions payable:

 21 Liab.: Nonfinancial corporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0 21

 22 Asset: Private pension funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.0 22

 Securities borrowed (net):

 23 Liab.: Funding corporations ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Asset: Brokers and dealers ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 Nonmarketable government securities:

 25 Liab.: Federal government ND 0.4 0.8 0.8 1.0 0.8 0.7 1.0 0.5 0.4 25

 26 Asset: Federal government retirement funds ND 0.4 0.8 0.8 1.0 0.8 0.7 1.0 0.5 0.4 26

 Retiree health care funds (2):

 27 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

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

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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Historical Annuals, 1945-1954, June 6, 2013 57

F.231 Unidentified Miscellaneous Financial Claims

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net change in liabilities ND 0.6 3.7 0.3 0.9 3.1 0.4 1.1 0.5 2.2 1

 2 Nonfinancial corporate business ND 0.5 0.6 0.5 0.4 1.3 0.3 0.7 0.3 0.8 2

 3 Nonfinancial noncorporate business ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Federal government ND -0.4 -0.4 -0.2 -0.3 0.0 0.2 -0.2 -0.0 0.0 4

 5 Rest of the world ND 0.2 2.6 -0.1 0.2 0.7 0.3 0.2 -0.2 -0.1 5

 6 Monetary authority ND -0.1 0.2 -0.0 0.2 0.3 -0.4 0.1 0.0 -0.0 6

 7 U.S.-chartered depository institutions ND 0.4 0.2 0.1 0.2 0.4 0.1 0.4 0.1 0.6 7

 8 Foreign banking offices in U.S. ND 0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 -0.0 -0.1 8

 9 Banks in U.S.-affiliated areas ND -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 0.0 -0.0 9

 10 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 10

 11 Life insurance companies ND 0.1 0.3 0.1 0.2 0.0 0.1 -0.3 0.1 0.3 11

 12 Government-sponsored enterprises ND -0.2 0.0 -0.0 -0.1 0.1 0.1 -0.2 0.0 0.0 12

 13 Finance companies ND 0.2 0.2 -0.0 0.2 0.3 -0.1 0.5 0.2 0.7 13

 14 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Brokers and dealers ND -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.0 -0.0 15

 16 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Funding corporations ND -0.1 -0.0 0.0 -0.0 -0.0 -0.1 0.1 0.0 -0.0 17

 18 Net change in assets ND -0.4 2.3 0.5 0.4 0.4 1.0 2.0 1.6 1.0 18

 19 Nonfinancial corporate business ND -0.3 0.4 0.6 0.5 0.5 0.8 0.9 1.1 0.7 19

 20 Nonfinancial noncorporate business ND 0.0 -0.0 0.0 -0.0 -0.0 0.0 -0.0 0.0 0.0 20

 21 State and local governments ND 0.1 0.2 -0.0 -0.1 0.4 -0.1 -0.4 0.0 -0.1 21

 22 Federal government ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Rest of the world ND 0.1 1.3 0.1 -0.3 -0.3 0.4 0.5 0.3 -0.8 23

 24 Monetary authority ND -0.0 0.1 0.0 -0.0 0.0 0.0 0.0 -0.0 -0.0 24

 25 U.S.-chartered depository institutions ND -0.3 -0.0 -0.4 0.1 0.1 -0.3 0.4 0.1 0.4 25

 26 Foreign banking offices in U.S. ND -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 26

 27 Banks in U.S.-affiliated areas ND 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 27

 28 Credit unions ND -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 28

 29 Life insurance companies ND 0.0 -0.0 0.1 0.0 0.1 0.1 0.1 0.0 0.1 29

 30 Private pension funds ND -0.1 0.2 0.2 0.1 -0.6 0.0 0.2 0.0 0.0 30

 31 State and local govt. retirement funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Money market mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Mutual funds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Government-sponsored enterprises ND -0.0 -0.0 -0.0 0.0 0.0 -0.0 -0.0 0.1 0.1 34

 35 Finance companies ND 0.1 0.1 -0.0 0.1 0.1 -0.1 0.2 0.0 0.2 35

 36 REITs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Brokers and dealers ND -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 0.1 -0.1 0.2 37

 38 Holding companies ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Discrepancy ND 1.0 1.4 -0.2 0.5 2.7 -0.5 -0.9 -1.1 1.3 39
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58 Historical Annuals, 1945-1954, June 6, 2013

F.11 Sector Discrepancies

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 All sectors ND -2.4 -10.4 -6.5 -6.9 -8.1 -16.1 -16.2 -13.3 -10.9 1

 2 Household sector ND -1.5 -3.0 -2.8 -4.0 -0.6 -6.1 -11.9 -8.0 -4.2 2

 3 Nonfinancial corporate business ND 4.0 1.4 3.7 4.7 1.5 -1.6 0.8 1.3 3.1 3

 4 State and local governments ND 1.2 0.1 -0.3 -1.0 0.5 -0.2 4.7 2.8 1.5 4

 5 Federal government ND -6.4 -9.6 -7.9 -7.6 -8.4 -9.0 -9.2 -9.0 -9.8 5

 6 Rest of the world ND 0.0 0.6 0.6 0.4 -0.4 -0.2 -0.3 -0.4 -0.4 6

 7 Financial sectors ND 0.3 0.0 0.3 0.7 -0.7 1.0 -0.2 0.1 -0.9 7

 8 Monetary authority ND 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 ND 0.2 0.2 0.2 0.2 -0.1 0.5 0.5 0.2 0.3 9

 10 Foreign banking officed in U.S. ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Banks in U.S.-affiliated areas ND -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 0.0 -0.0 11

 12 Credit unions ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 12

 13 Property-casualty insurance companies ND 0.0 -0.1 -0.1 0.2 -0.4 0.1 0.0 -0.1 -0.3 13

 14 Life insurance companies ND 0.1 0.1 0.2 0.3 -0.1 0.4 -0.3 0.2 0.2 14

 15 Mutual funds ND -0.1 -0.0 0.1 -0.1 -0.0 -0.0 -0.0 -0.0 -0.1 15

 16 Government-sponsored enterprises ND -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 16

 17 Issuers of asset-backed securities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Finance companies ND 0.1 0.1 0.1 0.1 0.1 0.2 -0.4 0.0 -0.9 18

 19 REITs ND 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 19

 20 Brokers and dealers ND 0.0 0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 20

 21 Holding companies ND 0.0 -0.1 -0.2 -0.1 -0.1 -0.2 -0.1 -0.2 -0.2 21

F.12 Instrument Discrepancies

Billions of dollars

 1 All types ND -2.4 -10.4 -6.5 -6.9 -8.1 -16.1 -16.2 -13.3 -10.9 1

 2 Treasury currency ND -0.1 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.0 -0.1 2

 3 Foreign deposits ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Net interbank transactions ND -0.2 0.2 -0.1 0.1 0.1 -0.6 -0.0 -0.0 -0.2 4

 5 Security RPs ND 2.0 0.3 0.2 0.1 -0.2 -0.0 -1.0 0.0 0.2 5

 6 Mail floats ND 0.9 -0.8 -0.3 0.4 0.4 0.2 1.0 0.4 0.1 6

 7 State and local governments ND 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 -0.0 7

 8 Federal government ND 0.6 -1.6 0.1 0.1 -0.2 -0.0 -0.6 0.2 0.6 8

 9 Private domestic ND 0.3 0.7 -0.4 0.3 0.6 0.2 1.6 -0.0 -0.5 9

 10 Trade credit ND 2.9 -1.7 0.7 1.1 -1.4 -2.5 -3.8 1.0 0.5 10

 11 Taxes payable ND -7.8 -7.5 -7.3 -7.3 -8.2 -9.0 -8.8 -9.5 -9.5 11

 12 Miscellaneous ND 1.0 1.4 -0.2 0.5 2.7 -0.5 -0.9 -1.1 1.3 12

 13 Nonfinancial ND -1.1 -2.3 0.5 -1.8 -1.4 -3.6 -2.7 -4.0 -3.1 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) ND 1.2 2.3 -0.5 1.8 1.4 3.6 2.8 4.0 3.1 14

 15 Private wage accruals less disbursements ND -0.0 0.0 0.0 -0.0 0.0 0.0 -0.1 0.0 0.0 15

 16 Contr. for govt. soc. insur., U.S. affiliated areas ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16
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Historical Annuals, 1945-1954, June 6, 2013 59

L.100 Households and Nonprofit Organizations (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 559.3 604.0 642.1 665.9 684.6 737.8 803.3 832.4 850.3 929.1 1

 2 Deposits 105.6 117.1 120.5 120.3 121.2 126.1 135.5 145.2 154.7 166.1 2

 3 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Checkable deposits and currency 55.4 60.6 60.4 58.1 56.3 58.9 63.3 65.5 66.8 68.9 4

 5 Time and savings deposits 50.2 56.6 60.0 62.2 64.8 67.2 72.2 79.7 87.9 97.2 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments 91.0 90.3 91.5 93.7 94.6 96.2 96.9 104.6 109.6 109.5 7

 8 Open market paper 0.0 0.1 0.1 0.2 0.3 0.4 0.8 1.0 1.3 1.1 8

 9 Treasury securities 66.5 65.1 65.1 65.8 67.3 66.5 65.4 67.4 68.0 66.1 9

 10 Savings bonds 42.9 44.2 46.2 47.8 49.3 49.6 49.1 49.2 49.4 50.0 10

 11 Bills and other Treasury securities 23.6 21.0 18.8 18.0 18.0 16.9 16.3 18.2 18.7 16.1 11

 12 Agency- and GSE-backed securities 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.0 0.2 0.1 12

 13 Municipal securities 3.9 3.8 4.5 4.6 3.7 5.5 5.7 11.0 13.9 16.0 13

 14 Corporate and foreign bonds 8.4 7.5 6.6 6.7 6.3 6.0 6.3 6.0 6.0 4.9 14

 15 Other loans and advances (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Mortgages 12.2 13.7 15.0 16.2 17.0 17.6 18.6 19.2 20.2 21.4 16

 17 Corporate equities (3) 109.7 101.6 99.2 98.0 105.6 129.8 152.1 151.0 145.8 198.8 17

 18 Mutual fund shares 1.2 1.3 1.4 1.5 3.1 3.3 3.5 3.9 4.1 6.1 18

 19 Security credit 0.7 0.7 0.7 0.7 0.7 1.0 0.9 0.7 0.7 1.0 19

 20 Life insurance reserves 39.6 43.4 46.5 49.4 52.1 55.0 57.8 60.7 63.6 66.3 20

 21 Pension fund reserves 12.0 13.3 15.4 17.8 20.5 23.2 26.8 33.5 38.5 43.9 21

 22 Equity in noncorporate business 193.2 229.3 259.4 276.6 278.6 294.4 320.5 322.2 321.9 325.7 22

 23 Miscellaneous assets 6.3 7.1 7.6 8.0 8.4 8.7 9.3 10.6 11.3 11.7 23

 24 Total liabilities 30.6 37.5 46.5 55.1 63.3 76.8 85.5 97.8 110.5 122.9 24

 25 Credit market instruments 28.2 35.5 44.3 52.8 60.6 73.4 82.0 94.0 106.2 117.7 25

 26 Home mortgages (4) 18.7 23.1 28.2 33.4 37.7 45.3 51.7 58.4 66.0 75.3 26

 27 Consumer credit 6.8 9.8 13.3 16.3 19.4 23.9 25.4 30.5 34.6 36.0 27

 28 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Depository institution loans n.e.c. (5) 0.3 0.2 0.2 0.2 0.2 0.3 0.5 0.3 0.4 0.6 29

 30 Other loans and advances 2.1 2.0 2.1 2.2 2.4 2.6 2.8 2.9 3.1 3.4 30

 31 Commercial mortgages 0.3 0.4 0.5 0.7 1.0 1.3 1.6 1.8 2.1 2.4 31

 32 Security credit 1.2 0.6 0.6 0.6 0.9 1.5 1.4 1.5 1.8 2.6 32

 33 Trade payables 0.5 0.7 0.8 0.9 0.9 1.0 1.0 1.1 1.2 1.3 33

 Deferred and unpaid

 34 life insurance premiums 0.6 0.7 0.8 0.8 0.9 1.0 1.1 1.2 1.3 1.3 34

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary tables (tables F.100.a and L.100.a) show estimates of annual flows and year-end

 outstandings of nonprofit organizations.

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

(3) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 18) and life insurance and pension reserves (lines 20 and 21).

(4) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 23.

(5) 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.108, line 19.
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60 Historical Annuals, 1945-1954, June 6, 2013

L.101 Nonfinancial Business (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 92.5 92.8 102.4 107.8 111.9 130.3 139.0 146.5 150.2 156.3 1

 2 Foreign deposits 0.0 0.1 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.2 2

 3 Checkable deposits and currency 36.1 37.3 39.4 39.3 40.2 41.7 43.9 44.2 43.9 46.1 3

 4 Time and savings deposits 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.1 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments 22.1 17.1 17.7 19.3 21.9 26.4 28.1 28.4 30.6 29.3 7

 8 Commercial paper 0.0 0.0 0.1 0.2 0.3 0.1 0.1 0.2 0.2 0.3 8

 9 Treasury securities 18.5 12.8 12.3 12.9 14.7 17.9 18.7 17.6 19.2 17.5 9

 10 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 10

 11 Municipal securities 0.3 0.3 0.4 0.5 0.5 0.7 0.8 0.8 1.0 1.0 11

 12 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Consumer credit 3.4 4.0 4.9 5.8 6.4 7.7 8.5 9.7 10.1 10.5 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Trade receivables 24.4 28.1 33.4 35.5 34.6 45.7 48.9 53.7 53.3 56.6 15

 16 Miscellaneous assets 9.0 9.4 11.0 12.7 14.2 15.5 17.1 19.2 21.4 23.1 16

 17 Total liabilities 85.2 99.5 115.1 126.5 127.4 154.3 170.8 178.7 184.9 192.4 17

 18 Credit market instruments 55.8 63.8 72.4 79.9 82.9 92.0 103.7 112.5 117.5 123.6 18

 19 Commercial paper 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 19

 20 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Corporate bonds 23.9 24.9 27.7 32.0 34.9 36.5 39.8 44.5 48.0 51.5 21

 22 Depository institution loans n.e.c. 10.2 14.6 18.3 19.0 17.1 21.6 26.6 27.8 26.8 26.2 22

 23 Other loans and advances 4.9 5.7 5.8 6.3 6.5 7.1 7.8 8.5 9.1 9.4 23

 24 Mortgages 16.8 18.5 20.4 22.4 24.3 26.6 29.2 31.3 33.3 35.8 24

 25 Trade payables 17.3 25.1 29.5 32.2 32.2 41.5 41.4 42.8 42.9 46.6 25

 26 Taxes payable 10.1 8.1 10.3 11.1 8.8 16.1 20.5 17.4 18.0 14.8 26

 27 Miscellaneous liabilities 2.0 2.4 2.9 3.3 3.5 4.8 5.1 6.1 6.5 7.4 27

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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Historical Annuals, 1945-1954, June 6, 2013 61

L.102 Nonfinancial Corporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 68.9 67.3 76.1 81.5 85.4 102.2 110.2 115.7 118.7 124.2 1

 2 Foreign deposits 0.0 0.1 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.2 2

 3 Checkable deposits and currency 19.1 19.7 21.6 22.0 23.0 24.4 26.0 26.8 26.7 28.5 3

 4 Time and savings deposits 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.1 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit market instruments 21.6 16.5 16.9 18.4 20.9 25.3 26.8 25.7 27.8 26.5 7

 8 Commercial paper 0.0 0.0 0.1 0.2 0.3 0.1 0.1 0.2 0.2 0.3 8

 9 Treasury securities 18.5 12.8 12.3 12.9 14.7 17.9 18.7 17.6 19.2 17.5 9

 10 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 10

 11 Municipal securities 0.3 0.3 0.4 0.5 0.5 0.7 0.8 0.8 1.0 1.0 11

 12 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Consumer credit 2.8 3.3 4.1 4.9 5.5 6.6 7.2 7.1 7.3 7.7 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Trade receivables 19.8 22.6 27.6 29.6 28.6 38.6 42.0 45.9 45.0 48.4 15

 16 Miscellaneous assets 7.5 7.7 9.1 10.6 11.9 13.0 14.5 16.3 18.2 19.6 16

 17 U.S. direct investment abroad (1) 7.0 7.0 8.1 9.3 10.4 11.4 12.6 14.3 15.7 17.0 17

 18 Insurance receivables 0.4 0.7 1.0 1.2 1.4 1.4 1.6 1.7 1.8 1.9 18

 19 Equity in GSEs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Investment in finance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Other 0.1 0.0 0.0 0.1 0.1 0.2 0.3 0.4 0.6 0.7 21

 22 Total liabilities 70.3 80.3 93.2 102.0 101.3 123.9 136.7 141.5 146.4 149.6 22

 23 Credit market instruments 44.6 49.7 56.6 62.7 64.3 70.3 78.8 85.0 89.2 92.6 23

 24 Commercial paper 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 24

 25 Municipal securities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Corporate bonds (1) 23.9 24.9 27.7 32.0 34.9 36.5 39.8 44.5 48.0 51.5 26

 27 Depository institution loans n.e.c. 8.8 12.4 15.4 16.1 14.2 17.8 22.1 22.9 22.3 21.6 27

 28 Other loans and advances (3) 3.2 3.1 2.9 3.0 2.9 3.1 3.4 3.8 4.3 4.4 28

 29 Mortgages 8.5 9.3 10.5 11.5 12.2 12.6 13.2 13.5 14.1 14.6 29

 30 Trade payables 13.7 20.1 23.4 25.0 24.8 32.7 32.4 33.1 32.9 34.9 30

 31 Taxes payable 10.1 8.1 10.3 11.1 8.8 16.1 20.5 17.4 18.0 14.8 31

 32 Miscellaneous liabilities 2.0 2.4 2.8 3.2 3.4 4.8 5.1 6.0 6.4 7.3 32

 33 Foreign direct investment in U.S. 1.5 1.5 1.6 1.7 1.9 2.3 2.6 2.8 3.1 3.3 33

 34 Pension fund contributions payable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.2 34

 35 Other 0.5 0.9 1.2 1.5 1.5 2.4 2.5 3.0 3.1 3.8 35

 Memo:

 36 Trade receivables net of payables 6.1 2.5 4.1 4.6 3.9 5.8 9.6 12.7 12.2 13.5 36

 37 Market value of equities 103.7 97.3 95.1 94.1 103.8 126.7 147.6 146.6 144.1 194.8 37

 38 Securities and mortgages 32.4 34.2 38.2 43.5 47.1 49.1 53.0 58.0 62.2 66.2 38

 39 Loans and short-term paper 12.1 15.6 18.5 19.2 17.3 21.2 25.7 27.1 27.0 26.5 39

 40 Total short-term liabilities (4) 35.9 43.8 52.2 55.3 50.8 70.0 78.6 77.6 77.9 76.1 40

 41 Total liquid assets (5) 38.8 33.8 35.3 36.4 39.4 44.0 46.6 46.4 48.2 48.5 41

 Analytical measures (percent)

 42 Long-term debt/credit market debt 72.8 68.7 67.4 69.4 73.2 69.9 67.3 68.2 69.7 71.4 42

 43 Short-term debt/credit market debt 27.2 31.3 32.6 30.6 26.8 30.1 32.7 31.8 30.3 28.6 43

 44 Liquid assets/short-term liabilities 108.0 77.1 67.7 65.8 77.5 62.8 59.2 59.8 61.9 63.7 44

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

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

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

(4) Sum of lines 24, 27, 28, 30, and 31. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(5) Sum of lines 2 through 6, lines 8 through 11, and line 14.
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62 Historical Annuals, 1945-1954, June 6, 2013

L.103 Nonfinancial Noncorporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 23.6 25.5 26.3 26.3 26.4 28.1 28.8 30.9 31.4 32.1 1

 2 Checkable deposits and currency 17.0 17.6 17.7 17.3 17.1 17.4 17.9 17.4 17.2 17.6 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 0.6 0.7 0.8 0.9 1.0 1.1 1.3 2.7 2.8 2.8 5

 6 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Consumer credit 0.6 0.7 0.8 0.9 1.0 1.1 1.3 2.7 2.8 2.8 9

 10 Trade receivables 4.5 5.6 5.9 5.9 6.0 7.1 7.0 7.8 8.2 8.2 10

 11 Miscellaneous assets 1.5 1.7 1.9 2.1 2.3 2.4 2.6 2.9 3.2 3.5 11

 12 Insurance receivables 1.3 1.5 1.8 2.0 2.2 2.3 2.5 2.8 3.1 3.3 12

 13 Equity investment in GSEs (1) 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 13

 14 Other -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 14

 15 Total liabilities 14.9 19.1 21.9 24.4 26.1 30.4 34.1 37.1 38.4 42.7 15

 16 Credit market instruments 11.3 14.0 15.8 17.2 18.5 21.6 24.9 27.4 28.4 30.9 16

 17 Depository institution loans n.e.c. 1.3 2.2 2.9 3.0 2.8 3.8 4.6 4.9 4.4 4.7 17

 18 Other loans and advances 1.7 2.6 3.0 3.3 3.6 3.9 4.4 4.7 4.8 5.1 18

 19 Mortgages 8.3 9.2 9.9 10.9 12.1 14.0 16.0 17.8 19.1 21.2 19

 20 Trade payables 3.6 5.1 6.1 7.2 7.5 8.7 9.0 9.6 10.0 11.7 20

 21 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Miscellaneous liabilities 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 22

(1) Equity in the Farm Credit System.
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L.104 State and Local Governments (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 13.5 14.1 16.1 17.6 18.3 20.4 21.9 23.8 25.4 27.2 1

 2 Checkable deposits and currency 3.7 4.6 5.3 5.8 6.0 6.5 6.9 7.2 7.6 7.9 2

 3 Time and savings deposits 0.5 0.7 0.9 1.1 1.3 1.4 1.5 1.6 2.0 2.4 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.2 5

 6 Credit market instruments 7.5 6.8 7.5 8.2 8.6 9.4 10.1 11.7 12.6 13.5 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 7

 8 Treasury securities 5.5 5.2 5.9 6.3 6.3 6.9 7.3 8.5 9.3 9.8 8

 9 Agency- and GSE-backed securities 0.2 0.1 0.1 0.3 0.3 0.2 0.4 0.6 0.5 0.7 9

 10 Municipal securities 1.8 1.5 1.4 1.4 1.7 2.0 2.1 2.1 2.3 2.5 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Mortgages 0.0 0.0 0.1 0.1 0.2 0.2 0.3 0.4 0.5 0.6 12

 13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Trade receivables 1.0 1.2 1.4 1.5 1.4 1.9 2.1 2.2 2.2 2.4 15

 16 Taxes receivable 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 16

 17 Miscellaneous assets 0.2 0.3 0.6 0.5 0.4 0.8 0.7 0.4 0.4 0.3 17

 18 Total liabilities 13.3 13.5 15.0 16.5 17.6 22.3 24.7 32.4 37.9 43.8 18

 19 Credit market instruments 12.6 12.7 14.3 15.7 16.6 21.2 23.6 30.8 35.8 41.1 19

 20 Municipal securities 12.1 12.2 13.8 15.1 16.1 20.7 22.8 29.7 35.0 40.7 20

 21 Short-term (2) 0.3 0.3 0.5 0.7 0.9 1.3 1.6 1.8 1.9 2.1 21

 22 Long-term 11.8 11.9 13.3 14.5 15.2 19.4 21.2 27.9 33.1 38.6 22

 23 U.S. government loans 0.5 0.5 0.5 0.6 0.5 0.6 0.8 1.1 0.8 0.4 23

 24 Trade payables 0.6 0.8 0.6 0.8 1.0 1.1 1.2 1.6 2.2 2.7 24

(1) Data for employee retirement funds are shown in table L.117.

(2) Debt with original maturity of 13 months or less.
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64 Historical Annuals, 1945-1954, June 6, 2013

L.105 Federal Government

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 44.3 22.1 29.6 33.2 32.9 40.9 48.3 41.0 39.3 36.0 1

 2 U.S. official reserve assets 0.0 -0.1 1.3 1.7 1.9 1.6 1.6 1.6 1.5 1.3 2

 3 Checkable deposits and currency 26.9 4.2 3.7 4.8 5.2 4.9 5.1 7.4 5.9 5.6 3

 4 Time and savings deposits 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.4 0.3 0.4 4

 5 Credit market instruments 5.2 8.3 12.6 13.9 15.1 15.9 17.1 18.7 20.7 20.4 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Other loans and advances 3.8 7.3 11.6 12.9 13.7 14.1 14.8 15.8 17.3 17.0 8

 9 Mortgages 1.4 1.0 0.9 1.0 1.5 1.8 2.3 2.9 3.3 3.4 9

 10 Consumer credit (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Trade receivables 0.9 0.1 0.0 0.0 0.0 0.4 1.3 2.3 2.2 2.4 12

 13 Taxes receivable 9.6 8.2 10.6 11.4 9.1 16.5 21.6 9.3 7.4 4.5 13

 14 Miscellaneous assets 1.5 1.2 1.3 1.2 1.4 1.4 1.3 1.3 1.3 1.5 14

 15 Total liabilities 267.6 243.7 237.0 232.0 235.2 236.0 238.0 244.2 251.4 253.5 15

 16 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Treasury currency 2.3 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.5 2.5 18

 19 Credit market instruments 251.5 228.0 220.8 215.1 217.7 216.5 216.1 221.4 228.4 230.8 19

 20 Savings bonds 42.9 44.2 46.2 47.8 49.3 49.6 49.1 49.2 49.4 50.0 20

 21 Treasury bills 55.2 47.0 36.4 38.7 42.0 19.0 47.2 38.4 45.9 48.0 21

 22 Other Treasury securities 153.0 136.8 138.1 127.6 125.4 147.6 119.5 133.2 130.9 130.6 22

 23 Budget agency securities 0.3 0.1 0.1 0.9 1.0 0.4 0.2 0.6 2.3 2.3 23

 24 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Trade payables 2.7 0.7 0.0 0.0 0.0 1.1 2.7 2.8 2.6 2.4 25

 26 Insurance reserves 3.6 4.8 5.4 5.6 5.7 6.0 6.1 6.2 6.3 6.0 26

 27 Miscellaneous liabilities (3) 7.5 7.8 8.4 9.0 9.5 10.1 10.7 11.3 11.6 11.8 27

 28 Nonmarketable securities held by pension plans 2.9 3.3 4.1 4.9 6.0 6.7 7.5 8.4 8.9 9.4 28

 29 Other 4.6 4.6 4.3 4.0 3.6 3.3 3.3 2.9 2.7 2.5 29

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

 retirement fund, and foreign service retirement and disability fund.
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Historical Annuals, 1945-1954, June 6, 2013 65

L.106 Rest of the World

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 16.3 15.1 13.6 14.2 14.5 17.2 18.5 20.5 21.5 24.6 1

 2 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net interbank assets 0.4 0.2 0.3 0.5 0.8 1.1 1.7 1.8 1.7 1.7 3

 4 U.S. checkable deposits and currency 2.7 2.3 1.7 2.2 2.0 2.0 1.7 2.0 1.5 1.7 4

 5 U.S. time deposits 1.6 1.6 1.6 1.6 1.7 2.0 1.7 1.8 2.4 2.9 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Security RPs (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Credit market instruments 3.1 2.4 3.0 3.1 3.4 4.8 4.9 5.1 5.8 6.4 8

 9 Open market paper 0.0 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.4 0.6 9

 10 Treasury securities 2.6 2.1 2.7 2.8 2.9 4.3 4.3 4.5 5.0 5.5 10

 11 Official 2.6 2.1 2.7 2.8 2.9 4.3 4.3 4.5 5.0 5.5 11

 12 Private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 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 13

 14 Official 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Private 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 U.S. corporate bonds (1) 0.5 0.2 0.3 0.2 0.3 0.3 0.3 0.4 0.4 0.4 17

 18 Loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 U.S. corporate equities 2.7 2.7 2.5 2.3 2.5 2.9 3.5 3.7 3.7 5.3 19

 20 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Trade receivables 0.4 0.4 0.4 0.4 0.3 0.4 0.4 0.4 0.4 0.3 21

 22 Security credit 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 22

 23 Miscellaneous assets 5.3 5.4 3.9 4.0 3.7 4.0 4.6 5.6 6.1 6.2 23

 24 Foreign direct investment in U.S. (2) 2.5 2.5 2.6 2.8 2.9 3.4 3.7 3.9 4.3 4.6 24

 25 Other 2.8 2.9 1.3 1.2 0.7 0.6 1.0 1.7 1.8 1.5 25

 26 Total liabilities 14.9 17.3 24.0 26.7 28.3 29.9 31.8 34.8 37.2 39.1 26

 27 U.S. official reserve assets (3) 0.0 -0.2 0.9 1.3 1.5 1.4 1.4 1.5 1.4 1.2 27

 28 U.S. private deposits 0.0 0.1 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.2 28

 29 Credit market instruments 5.0 8.0 12.3 13.7 13.8 13.9 14.6 15.0 16.2 16.4 29

 30 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Bonds 2.9 2.8 2.8 2.9 2.9 3.1 3.4 3.4 3.3 3.3 31

 32 Depository institution loans n.e.c. 0.5 0.8 1.0 1.2 0.9 0.7 0.8 0.9 0.7 1.2 32

 33 Official 0.0 0.0 0.1 0.1 0.1 0.2 0.3 0.3 0.2 0.4 33

 34 Banks 0.1 0.5 0.4 0.6 0.3 0.3 0.4 0.3 0.3 0.4 34

 35 Other 0.3 0.3 0.5 0.6 0.5 0.2 0.1 0.3 0.2 0.3 35

 36 Other loans and advances 1.6 4.4 8.5 9.6 10.0 10.1 10.4 10.8 12.1 12.0 36

 37 Trade payables 0.4 0.3 0.4 0.4 0.4 0.4 0.5 0.5 0.5 0.5 37

 38 Security debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 38

 39 Miscellaneous liabilities 9.4 9.2 10.3 11.3 12.6 14.0 15.2 17.7 19.1 20.7 39

 40 U.S. equity in IBRD, etc. 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 40

 41 Nonofficial foreign currencies 0.4 0.2 0.3 0.2 0.4 0.4 0.4 0.4 0.4 0.5 41

 42 U.S. direct investment abroad (1,2) 7.2 7.2 8.4 9.6 10.7 11.8 13.0 14.7 16.3 17.6 42

 43 Investment by holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Other 1.2 1.1 0.9 0.8 0.8 1.1 1.1 1.9 1.8 1.9 44

 Memo:

 45 Market value of foreign equities 0.9 1.0 1.0 0.9 0.7 1.2 1.4 1.5 1.3 1.9 45

 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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66 Historical Annuals, 1945-1954, June 6, 2013

L.107 Financial Business (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 290.9 288.5 303.0 317.3 328.6 352.0 376.3 407.9 431.5 463.4 1

 2 U.S. official reserve assets 20.1 20.5 22.5 24.0 24.1 22.7 22.7 23.2 22.0 21.7 2

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

 4 Treasury currency 4.2 4.4 4.4 4.4 4.4 4.5 4.6 4.7 4.7 4.8 4

 5 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Net interbank assets 18.6 18.8 20.7 23.0 19.1 21.3 24.0 23.8 23.6 22.2 6

 7 Checkable deposits and currency 2.7 3.1 3.4 3.4 3.6 4.1 4.3 4.5 4.7 4.7 7

 8 Time and savings deposits 0.2 0.2 0.1 0.2 0.2 0.3 0.3 0.7 0.8 0.8 8

 9 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.8 0.8 0.2 10

 11 Credit market instruments 225.9 226.0 235.5 244.2 254.0 272.7 292.3 316.2 337.4 362.7 11

 12 Open market paper 0.3 0.4 0.5 0.4 0.4 0.5 0.7 0.7 0.7 1.0 12

 13 Treasury securities 158.0 142.7 134.8 126.4 125.5 120.6 120.1 122.8 124.5 129.6 13

 14 Agency- and GSE-backed securities 0.9 1.0 1.1 2.0 2.1 1.9 1.8 2.2 3.7 3.7 14

 15 Municipal securities 6.3 6.6 7.6 8.6 10.2 12.5 14.1 15.8 17.8 21.3 15

 16 Corporate and foreign bonds 18.1 20.2 23.9 28.7 32.2 34.6 38.2 43.2 48.0 52.3 16

 17 Depository institution loans n.e.c. 11.3 16.4 20.6 22.1 20.3 25.9 31.2 33.4 32.1 32.1 17

 18 Other loans and advances 5.4 5.5 5.7 6.2 6.1 7.1 7.9 8.4 8.7 9.2 18

 19 Mortgages 22.3 27.2 33.1 39.2 44.4 53.5 61.3 68.9 77.3 88.1 19

 20 Consumer credit 3.4 5.8 8.4 10.5 12.9 16.2 16.9 20.8 24.5 25.5 20

 21 Corporate equities 5.3 5.5 5.9 6.2 8.8 9.9 10.9 13.9 15.2 20.2 21

 22 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Trade receivables 0.4 0.5 0.6 0.7 0.7 0.7 0.9 0.9 1.0 1.1 23

 24 Security credit 8.1 3.8 2.7 2.9 3.7 4.5 4.1 4.9 5.7 7.5 24

 25 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous assets 5.6 5.8 7.1 8.3 9.9 11.3 12.1 14.5 15.6 17.5 26

 27 Total liabilities 272.6 269.1 282.5 295.7 305.4 326.3 349.6 379.2 400.9 428.0 27

 28 Net interbank liabilities 19.5 19.3 21.5 24.0 20.5 23.0 25.7 25.6 25.3 23.7 28

 29 Checkable deposits and currency 133.7 119.1 120.2 119.6 119.6 124.9 132.1 138.7 138.7 143.3 29

 30 Time and savings deposits 53.5 60.0 63.6 66.2 69.2 71.9 76.8 85.0 94.3 104.8 30

 31 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Federal funds and security RPs -3.6 -1.6 -1.3 -1.1 -1.0 -1.1 -1.0 -1.1 -1.2 -1.5 32

 33 Credit market instruments 1.7 2.9 3.7 5.2 6.0 8.4 9.5 11.0 12.6 12.2 33

 34 Open market paper 0.2 0.4 0.6 0.8 1.0 1.1 1.6 1.9 2.2 2.4 34

 35 Agency- and GSE-backed securities 0.9 1.2 1.3 1.6 1.5 1.9 2.1 2.2 2.2 2.1 35

 36 Corporate and foreign bonds 0.1 0.2 0.3 0.8 1.1 1.3 1.7 1.7 3.1 2.8 36

 37 Depository institution loans n.e.c. 0.3 0.8 1.0 1.6 2.1 3.3 3.2 4.4 4.2 4.0 37

 38 Other loans and advances 0.2 0.3 0.4 0.5 0.4 0.8 0.9 0.9 1.0 0.9 38

 39 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Mutual fund shares 1.2 1.3 1.4 1.5 3.1 3.3 3.5 3.9 4.1 6.1 40

 41 Trade payables 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 41

 42 Security credit 7.6 4.0 2.8 3.0 3.5 4.0 3.7 4.2 4.6 6.0 42

 43 Life insurance reserves 36.0 38.6 41.1 43.8 46.4 49.1 51.6 54.5 57.4 60.4 43

 44 Pension fund reserves 12.0 13.3 15.4 17.8 20.5 23.2 26.8 33.5 38.5 43.9 44

 45 Taxes payable 0.4 0.5 0.3 0.5 0.7 0.9 1.1 1.4 1.9 1.6 45

 46 Miscellaneous liabilities 10.4 11.7 13.5 15.1 16.8 18.7 19.7 22.4 24.4 27.3 46

 Memo:

 47 Market value of corporate equities 13.1 11.4 11.5 11.4 12.4 14.8 17.5 20.5 19.2 27.6 47

 48 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

(1) Sum of financial sectors shown on tables L.108 and L.110 through L.129.
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Historical Annuals, 1945-1954, June 6, 2013 67

L.108 Monetary Authority (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 49.4 49.1 50.2 52.7 48.2 49.5 52.4 53.8 53.8 52.6 1

 2 U.S. official reserve assets 20.1 20.5 22.5 24.0 24.1 22.7 22.7 23.2 22.0 21.7 2

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

 4 Treasury currency 4.2 4.4 4.4 4.4 4.4 4.5 4.6 4.7 4.7 4.8 4

 5 Federal Reserve float (2) 0.6 0.6 0.5 0.5 0.5 1.4 1.2 1.0 0.9 0.8 5

 6 Interbank loans (2) 0.2 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.0 0.0 6

 7 Discount window (3) 0.2 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.0 0.0 7

 8 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Security RPs 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.7 0.6 0.0 9

 10 Credit market instruments 24.3 23.5 22.6 23.5 19.0 20.7 23.6 24.1 25.3 25.0 10

 11 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Treasury securities 24.3 23.4 22.6 23.3 18.9 20.7 23.6 24.0 25.3 24.9 12

 13 Treasury bills 21.2 22.2 18.2 11.6 11.1 3.6 13.2 5.7 8.4 16.0 13

 14 Other Treasury securities 3.1 1.1 4.3 11.8 7.8 17.1 10.4 18.3 16.9 8.8 14

 15 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 15

 16 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Depository institution loans n.e.c. 0.0 0.1 0.1 0.2 0.1 0.0 0.0 0.0 0.0 0.1 18

 19 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Rest of world 0.0 0.1 0.1 0.2 0.1 0.0 0.0 0.0 0.0 0.1 20

 21 Brokers and dealers (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Funding corporations (Maiden Lane) (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Funding corporations (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (Maiden Lane II) (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (Maiden Lane III)(9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Funding corporations (CPFF) (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Corporate equities (11) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Miscellaneous assets 0.1 0.1 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.2 28

 29 Nonofficial foreign currencies (12) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Other 0.1 0.1 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.2 30

 31 Total liabilities 49.0 48.6 49.7 52.1 47.6 48.9 51.7 53.1 53.1 51.8 31

 32 Depository institution reserves 15.9 16.1 17.9 20.5 16.6 17.7 20.1 20.0 20.2 18.9 32

 33 Vault cash of depository institutions 1.9 2.0 2.2 2.0 2.0 2.2 2.7 2.8 2.5 2.5 33

 34 Checkable deposits and currency 31.1 30.4 29.3 29.4 28.5 28.2 28.6 29.9 29.8 29.9 34

 35 Due to federal government 3.3 2.7 2.2 2.4 2.1 2.0 1.5 1.7 1.1 1.4 35

 36 Treasury cash holdings 2.3 2.3 1.3 1.3 1.3 1.3 1.3 1.3 0.8 0.8 36

 37 Treasury general deposit account 1.0 0.4 0.9 1.1 0.8 0.7 0.2 0.4 0.3 0.6 37

 38 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Due to rest of the world 1.2 0.8 0.4 0.7 0.8 0.6 0.5 0.6 0.4 0.5 39

 40 Due to government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Currency outside banks 26.6 26.9 26.7 26.2 25.6 25.6 26.5 27.7 28.3 28.0 41

 42 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Miscellaneous liabilities 0.1 0.1 0.3 0.3 0.5 0.9 0.4 0.5 0.6 0.5 43

 44 Federal Reserve Bank stock 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 44

 45 Other -0.0 -0.1 0.1 0.1 0.3 0.6 0.2 0.3 0.3 0.3 45

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table L.203.

(3) Federal Reserve loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

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

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

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

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

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

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

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

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

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.
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68 Historical Annuals, 1945-1954, June 6, 2013

L.109 Private Depository Institutions (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 168.0 161.4 168.2 171.4 176.5 188.1 200.9 215.5 225.9 242.5 1

 2 Vault cash 1.9 2.0 2.2 2.0 2.0 2.2 2.7 2.8 2.5 2.5 2

 3 Reserves at Federal Reserve 15.9 16.1 17.9 20.5 16.6 17.7 20.1 20.0 20.2 18.9 3

 4 Credit market instruments 141.7 138.6 144.5 145.1 153.4 163.3 173.4 186.7 196.3 212.2 4

 5 Open market paper 0.2 0.3 0.4 0.3 0.3 0.4 0.5 0.6 0.6 0.8 5

 6 Treasury securities 104.6 89.3 83.6 76.2 80.6 75.1 73.7 75.4 75.4 80.7 6

 7 Agency- and GSE-backed securities 0.9 1.0 1.1 2.0 2.1 1.9 1.8 2.2 3.7 3.6 7

 8 Municipal securities 4.1 4.5 5.4 5.8 6.7 8.3 9.4 10.6 11.4 13.3 8

 9 Corporate and foreign bonds 3.6 3.7 4.1 4.2 4.6 4.7 4.7 4.9 5.2 5.2 9

 10 Depository institution loans n.e.c. 11.2 16.3 20.5 21.9 20.2 25.9 31.2 33.3 32.1 32.0 10

 11 Other loans and advances 0.2 0.2 0.3 0.3 0.3 0.4 0.5 0.5 0.6 0.9 11

 12 Mortgages 14.5 18.9 23.2 27.1 30.0 35.7 40.2 45.5 51.6 59.3 12

 13 Consumer credit 2.5 4.3 6.0 7.3 8.6 10.9 11.3 13.7 15.9 16.4 13

 14 Corporate equities 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.6 14

 15 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Security credit 6.8 3.2 2.1 2.3 2.7 3.0 2.7 3.4 3.9 4.9 16

 17 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Miscellaneous assets 1.5 1.3 1.4 1.4 1.7 1.8 1.7 2.4 2.7 3.5 18

 19 Total liabilities 159.1 151.9 158.0 160.6 165.1 175.7 187.9 201.8 211.5 227.0 19

 20 Net interbank liabilities 1.7 1.1 1.4 1.5 1.9 3.2 2.9 2.9 2.7 2.3 20

 21 Checkable deposits 102.6 88.7 90.9 90.3 91.1 96.7 103.6 108.8 108.9 113.5 21

 22 Small time and savings deposits 50.3 56.6 60.0 62.2 64.9 67.3 72.3 80.2 88.5 97.8 22

 23 Large time deposits 3.2 3.4 3.6 3.9 4.3 4.6 4.5 4.9 5.8 7.0 23

 24 Federal funds and security RPs (net) 0.0 0.0 -0.1 -0.1 -0.1 -0.1 0.0 0.0 0.0 -0.0 24

 25 Credit market instruments 0.4 0.5 0.7 0.8 0.7 1.2 1.4 1.4 1.5 1.7 25

 26 Open market paper 0.2 0.2 0.3 0.3 0.3 0.4 0.5 0.5 0.6 0.9 26

 27 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Other loans and advances 0.2 0.3 0.4 0.5 0.4 0.8 0.9 0.9 1.0 0.9 28

 29 Taxes payable (net) 0.3 0.4 0.2 0.3 0.3 0.5 0.6 0.8 1.0 0.9 29

 30 Miscellaneous liabilities 0.6 1.0 1.2 1.7 1.9 2.3 2.5 2.9 3.1 3.7 30

 31 Foreign direct investment in U.S. 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 31

 32 Investment by holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Investment by funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Other 0.4 0.9 1.0 1.5 1.7 2.2 2.3 2.7 2.9 3.5 34

 Memo:

 35 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

(1) U.S.-chartered depository institutions (L.110), foreign banking offices (L.111), banks in U.S.-affiliated areas (L.112), and credit unions (L.113).

(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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Historical Annuals, 1945-1954, June 6, 2013 69

L.110 U.S.-Chartered Depository Institutions, Excluding Credit Unions

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 166.8 160.1 166.7 169.8 174.5 185.7 198.0 212.1 222.2 238.2 1

 2 Vault cash 1.9 2.0 2.2 2.0 2.0 2.2 2.7 2.8 2.5 2.5 2

 3 Reserves at Federal Reserve 15.9 16.1 17.9 20.5 16.6 17.7 20.1 20.0 20.2 18.9 3

 4 Credit market instruments 140.5 137.3 143.1 143.5 151.5 161.1 170.9 183.7 193.0 208.5 4

 5 Open market paper 0.2 0.3 0.4 0.3 0.3 0.4 0.4 0.5 0.5 0.7 5

 6 Treasury securities 103.7 88.6 82.9 75.6 79.9 74.4 73.0 74.6 74.6 79.8 6

 7 Agency- and GSE-backed securities 0.9 1.0 1.1 2.0 2.1 1.9 1.8 2.2 3.7 3.6 7

 8 Residential mortgage pass-through securities 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.1 0.0 8

 9 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Other 0.9 1.0 1.1 2.0 2.1 1.9 1.8 2.1 3.6 3.6 12

 13 Municipal securities 4.1 4.5 5.3 5.7 6.6 8.2 9.3 10.5 11.2 13.2 13

 14 Corporate and foreign bonds 3.5 3.7 4.0 4.1 4.5 4.6 4.6 4.8 5.0 5.1 14

 15 Priv. residential mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Priv. commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Priv. residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Priv. commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Other 3.5 3.7 4.0 4.1 4.5 4.6 4.6 4.8 5.0 5.1 19

 20 Depository institution loans n.e.c. 11.1 16.1 20.3 21.6 19.9 25.5 30.7 32.7 31.5 31.3 20

 21 Other loans and advances 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.4 0.5 0.7 21

 22 Mortgages 14.3 18.7 22.9 26.7 29.6 35.1 39.7 45.0 51.1 58.7 22

 23 Consumer credit 2.5 4.3 6.0 7.2 8.5 10.6 11.0 13.2 15.0 15.4 23

 24 Corporate equities 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.6 24

 25 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Security credit 6.8 3.2 2.1 2.3 2.6 2.9 2.6 3.2 3.6 4.5 26

 27 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Miscellaneous assets 1.5 1.2 1.3 1.3 1.6 1.7 1.6 2.2 2.5 3.3 28

 29 Total liabilities 157.7 150.4 156.4 158.8 162.9 173.2 184.9 198.3 207.6 222.6 29

 30 Net interbank liabilities 2.0 1.4 1.5 1.5 1.7 2.8 2.6 2.5 2.4 2.1 30

 31 Federal Reserve float 0.6 0.6 0.5 0.5 0.5 1.4 1.2 1.0 0.9 0.8 31

 32 Borrowing from Federal Reserve banks 0.2 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.0 0.0 32

 33 To domestic banks 0.9 0.7 0.9 0.8 0.9 1.1 0.7 0.8 0.9 0.9 33

 34 To foreign banks 0.4 0.1 0.1 0.1 0.2 0.3 0.7 0.6 0.5 0.4 34

 35 Checkable deposits 101.4 87.7 89.9 89.4 90.2 95.7 102.4 107.5 107.6 112.1 35

 36 Federal government 24.5 3.0 1.3 2.3 3.1 2.8 3.4 4.9 4.1 4.2 36

 37 Rest of the world 1.4 1.4 1.2 1.5 1.1 1.3 1.1 1.3 0.9 1.1 37

 38 Private domestic 75.5 83.3 87.4 85.5 86.0 91.6 98.0 101.3 102.6 106.8 38

 39 Small time and savings deposits 49.9 56.2 59.5 61.6 64.2 66.5 71.2 78.8 86.8 95.8 39

 40 Large time deposits 3.2 3.3 3.5 3.9 4.2 4.5 4.4 4.7 5.6 6.8 40

 41 Federal funds and security RPs (net) 0.0 0.0 -0.1 -0.1 -0.1 -0.1 0.0 0.0 0.0 -0.0 41

 42 Credit market instruments 0.3 0.5 0.6 0.7 0.6 1.1 1.3 1.3 1.4 1.6 42

 43 Open market paper 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.4 0.5 0.7 43

 44 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Other loans and advances 0.2 0.3 0.4 0.5 0.4 0.8 0.9 0.9 1.0 0.9 45

 46 Taxes payable (net) 0.3 0.4 0.2 0.3 0.3 0.5 0.6 0.8 1.0 0.9 46

 47 Miscellaneous liabilities 0.5 0.9 1.1 1.6 1.8 2.2 2.3 2.7 2.8 3.4 47

 48 Investment by holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 Other 0.5 0.9 1.1 1.6 1.8 2.2 2.3 2.7 2.8 3.4 49

 Memo:

 50 Consumer leases not included above (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

(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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70 Historical Annuals, 1945-1954, June 6, 2013

L.111 Foreign Banking Offices in U.S. (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 0.3 0.4 0.4 0.5 0.8 1.0 1.4 1.6 1.7 2.0 1

 2 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 0.4 0.5 0.5 0.6 0.8 1.0 1.3 1.5 1.5 1.6 3

 4 Open market paper 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 4

 5 Treasury securities 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.5 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 8

 9 Depository institution loans n.e.c. 0.1 0.2 0.2 0.3 0.4 0.4 0.6 0.6 0.6 0.6 9

 10 Other loans and advances 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 10

 11 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Security credit 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.2 0.3 0.4 13

 14 Miscellaneous assets -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.0 -0.1 -0.0 14

 15 Total liabilities 0.3 0.4 0.5 0.6 0.8 1.1 1.4 1.7 1.7 2.0 15

 16 Net interbank liabilities 0.1 0.1 0.2 0.4 0.6 0.7 0.9 1.1 1.1 1.2 16

 17 To foreign banks 0.1 0.1 0.2 0.4 0.6 0.8 1.0 1.2 1.2 1.3 17

 18 To domestic banks 0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 -0.1 -0.1 18

 19 Checkable deposits 0.2 0.2 0.1 0.1 0.2 0.2 0.3 0.4 0.4 0.5 19

 20 Small time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Large time deposits 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.2 0.2 21

 22 Federal funds and security RPs (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Open market paper (2) 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 23

 24 Miscellaneous liabilities -0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 24

 25 Foreign direct investment in U.S. 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 25

 26 Investment by funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Other -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.3 27

(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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Historical Annuals, 1945-1954, June 6, 2013 71

L.112 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 0.7 0.7 0.7 0.6 0.6 0.7 0.7 0.7 0.7 0.8 1

 2 Credit market instruments 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 2

 3 Treasury securities 0.6 0.5 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 5

 6 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Home mortgages 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 8

 9 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Miscellaneous assets 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 10

 11 Total liabilities 0.9 0.9 0.9 0.8 0.8 0.8 0.8 0.9 0.9 0.9 11

 12 Net interbank liabilities -0.2 -0.2 -0.2 -0.2 -0.1 -0.1 -0.2 -0.2 -0.2 -0.2 12

 13 Checkable deposits 0.9 0.9 0.9 0.8 0.8 0.8 0.8 0.9 0.9 0.9 13

 14 Small time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Large time deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Miscellaneous liabilities 0.2 0.2 0.2 0.1 0.1 0.1 0.2 0.2 0.2 0.2 16

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

L.113 Credit Unions

Billions of dollars

 1 Total financial assets 0.2 0.2 0.3 0.4 0.6 0.7 0.8 1.0 1.3 1.6 1

 2 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 0.2 0.2 0.3 0.5 0.6 0.7 0.8 1.1 1.4 1.6 3

 4 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Home mortgages 0.1 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.4 0.4 10

 11 Consumer credit 0.0 0.0 0.1 0.1 0.2 0.3 0.3 0.6 0.9 1.1 11

 12 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Miscellaneous assets -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 13

 14 Total liabilities 0.2 0.2 0.3 0.4 0.5 0.7 0.7 0.9 1.2 1.4 14

 15 Net interbank liabilities -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.4 -0.5 -0.6 -0.8 15

 16 Shares/deposits 0.4 0.4 0.5 0.6 0.7 0.9 1.1 1.4 1.7 2.0 16

 17 Checkable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Small time and savings 0.4 0.4 0.5 0.6 0.7 0.9 1.1 1.4 1.7 2.0 18

 19 Large time 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Federal funds and security RPs (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Miscellaneous liabilities -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.1 0.1 0.1 0.2 22
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L.114 Property-Casualty Insurance Companies

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 6.3 7.2 8.3 9.4 10.6 11.8 12.9 14.3 15.7 17.9 1

 2 Checkable deposits and currency 0.7 0.9 1.0 1.1 1.1 1.2 1.2 1.3 1.4 1.3 2

 3 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 3.5 4.1 4.8 5.7 6.4 7.2 7.8 8.7 9.9 10.8 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 6

 7 Treasury securities 2.7 3.3 3.9 4.4 4.8 5.3 5.4 5.8 6.0 6.1 7

 8 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 8

 9 Municipal securities 0.2 0.2 0.3 0.5 0.8 1.1 1.4 1.9 2.6 3.4 9

 10 Corporate and foreign bonds 0.5 0.5 0.6 0.7 0.7 0.7 0.8 1.0 1.1 1.1 10

 11 Commercial mortgages 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 11

 12 Corporate equities 1.8 1.7 1.7 1.8 2.2 2.6 2.9 3.2 3.3 4.5 12

 13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Trade receivables 0.4 0.5 0.6 0.7 0.7 0.7 0.9 0.9 1.0 1.1 14

 15 Miscellaneous assets 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 15

 16 Total liabilities 3.9 4.6 5.5 6.3 7.1 7.5 8.4 9.5 10.5 11.0 16

 17 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Taxes payable (net) 0.0 0.0 0.0 0.1 0.2 0.2 0.1 0.2 0.4 0.2 18

 19 Miscellaneous liabilities 3.9 4.6 5.4 6.2 6.8 7.4 8.2 9.3 10.1 10.7 19

L.115 Life Insurance Companies

Billions of dollars

 1 Total financial assets 43.9 47.5 50.9 54.5 58.4 62.6 66.6 71.5 76.5 82.2 1

 2 Checkable deposits and currency 0.8 0.8 1.0 0.9 0.9 1.0 1.1 1.1 1.2 1.2 2

 3 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 41.2 44.4 47.4 50.9 54.4 57.9 61.6 65.9 70.6 75.4 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 6

 7 Treasury securities 20.6 21.6 20.0 16.8 15.3 13.5 11.0 10.3 9.8 9.1 7

 8 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 8

 9 Municipal securities 0.7 0.6 0.6 0.9 1.1 1.2 1.1 1.2 1.3 1.8 9

 10 Corporate and foreign bonds 11.3 13.1 16.1 20.4 22.9 24.8 27.5 30.6 33.3 35.4 10

 11 Other loans and advances 2.0 1.9 1.9 2.1 2.2 2.4 2.6 2.7 2.9 3.1 11

 12 Mortgages 6.6 7.2 8.7 10.8 12.9 16.1 19.3 21.3 23.3 26.0 12

 13 Corporate equities 1.0 1.2 1.4 1.4 1.7 2.1 2.2 2.4 2.6 3.3 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Miscellaneous assets 1.0 1.0 1.1 1.2 1.3 1.6 1.8 1.9 2.1 2.3 15

 16 Total liabilities 41.6 44.9 48.3 51.8 55.5 59.2 63.2 67.8 72.5 77.3 16

 17 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Life insurance reserves 36.0 38.6 41.1 43.8 46.4 49.1 51.6 54.5 57.4 60.4 19

 20 Pension fund reserves (1) 2.7 3.1 3.6 4.2 4.8 5.6 6.6 7.7 8.8 10.0 20

 21 Taxes payable (net) 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.2 21

 22 Miscellaneous liabilities 2.9 3.2 3.6 3.8 4.2 4.5 4.9 5.5 6.0 6.7 22

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 22).
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Historical Annuals, 1945-1954, June 6, 2013 73

L.116 Private Pension Funds (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 3.8 4.0 4.5 5.0 5.5 6.0 7.1 10.7 12.7 15.0 1

 2 Checkable deposits and currency 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.3 0.4 0.4 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.5 0.6 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 5

 6 Credit market instruments 3.9 4.1 4.4 4.7 5.0 5.3 6.0 7.2 8.5 9.8 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 7

 8 Treasury securities 2.1 2.1 2.2 2.2 2.3 2.3 2.4 2.5 2.6 2.7 8

 9 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 9

 10 Corporate and foreign bonds 1.8 2.0 2.2 2.4 2.6 2.8 3.5 4.5 5.6 6.9 10

 11 Mortgages 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.2 0.2 11

 12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.3 1.8 2.4 3.2 12

 13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Miscellaneous assets -0.1 -0.2 -0.0 0.2 0.3 0.4 0.4 0.8 0.9 1.0 14

 15 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Contributions receivable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.2 16

 17 Other -0.1 -0.2 -0.0 0.2 0.3 0.4 0.4 0.7 0.7 0.7 17

 18 Pension fund reserves (liabilities) (3) 3.8 4.0 4.5 5.0 5.5 6.0 7.1 10.7 12.8 15.0 18

 Memo:

 Total financial assets (4)

 19 Defined benefit plans ND ND ND ND ND ND ND ND ND ND 19

 20 Defined contibution plans ND ND ND ND ND ND ND ND ND ND 20

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

(3) Equal to the value of nonfinancial and financial assets. These liabilities are assets of the household sector.

(4) Additional detail on defined benefit plans and defined contribution plans is available on L.116.b and L.116.c.
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74 Historical Annuals, 1945-1954, June 6, 2013

L.117 State and Local Government Employee Retirement Funds

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 2.6 2.9 3.2 3.6 4.2 4.9 5.6 6.6 8.0 9.5 1

 2 Checkable deposits and currency 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 2.5 2.8 3.1 3.5 4.1 4.7 5.4 6.4 7.7 9.2 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 7

 8 Treasury securities 1.5 1.7 1.9 2.1 2.3 2.5 2.9 3.4 3.9 4.4 8

 9 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 9

 10 Municipal securities 0.8 0.9 1.0 1.2 1.3 1.5 1.7 1.9 2.1 2.4 10

 11 Corporate and foreign bonds 0.1 0.2 0.2 0.3 0.4 0.6 0.7 1.0 1.5 2.1 11

 12 Mortgages 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.2 12

 13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Pension fund reserves (liabilities) (1) 2.6 2.9 3.2 3.6 4.2 4.9 5.6 6.6 8.0 9.5 16

(1) Equal to the value of nonfinancial and financial assets. These liabilities are assets of the household sector.

L.118 Federal Government Retirement Funds (1)

Billions of dollars

 1 Total financial assets 2.9 3.3 4.1 4.9 6.0 6.7 7.5 8.4 8.9 9.4 1

 2 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Miscellaneous assets (2) 2.9 3.3 4.1 4.9 6.0 6.7 7.5 8.4 8.9 9.4 7

 8 Pension fund reserves (liabilities) (3) 2.9 3.3 4.1 4.9 6.0 6.7 7.5 8.4 8.9 9.4 8

(1) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and nonmarketable government securities held by federal government retirement funds.

(2) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.

(3) Liabilities of the sector are assets of the household sector.
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Historical Annuals, 1945-1954, June 6, 2013 75

L.119 Money Market Mutual Funds (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 7

 8 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 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 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Total shares outstanding (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.120 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 1.2 1.3 1.4 1.5 3.1 3.3 3.5 3.9 4.1 6.1 1

 2 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 2

 3 Credit market instruments 0.2 0.3 0.3 0.3 0.4 0.4 0.5 0.5 0.5 0.7 3

 4 Open market paper 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 4

 5 Treasury securities 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 0.1 0.2 0.1 0.2 0.2 0.2 0.3 0.3 0.3 0.4 8

 9 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate equities 1.0 1.0 1.2 1.2 2.7 2.9 2.9 3.3 3.5 5.4 10

 11 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Total shares outstanding (liabilities) 1.2 1.3 1.4 1.5 3.1 3.3 3.5 3.9 4.1 6.1 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.115).

L.121 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Total financial assets 1.0 1.0 1.3 1.4 1.7 2.0 2.2 2.5 2.8 3.1 1

 2 Credit market instruments 0.2 0.2 0.3 0.3 0.3 0.4 0.4 0.5 0.6 0.6 2

 3 Treasury securities 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 3

 4 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.1 0.2 0.2 0.2 0.3 0.3 0.3 0.4 0.4 0.5 5

 6 Corporate equities 0.8 0.8 1.0 1.1 1.4 1.6 1.8 2.0 2.2 2.5 6

 7 Total shares outstanding (liabilities) 1.0 1.0 1.3 1.4 1.7 2.0 2.2 2.5 2.8 3.1 7

 Exchange-traded funds

 8 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

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

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Total shares outstanding (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14
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76 Historical Annuals, 1945-1954, June 6, 2013

L.122 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 2.3 2.4 2.5 2.9 2.8 3.3 3.7 3.8 4.1 4.5 1

 2 Checkable deposits and currency 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Federal funds and security RPs (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Credit market instruments 2.0 2.1 2.3 2.7 2.6 3.1 3.5 3.6 3.7 4.0 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 6

 7 Treasury securities 0.4 0.4 0.3 0.5 0.5 0.4 0.4 0.5 0.6 0.8 7

 8 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 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Other loans and advances 0.7 0.8 1.1 1.4 1.3 1.8 2.1 2.1 1.9 1.9 11

 12 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Farm Credit System 0.5 0.5 0.7 0.8 0.9 1.0 1.2 1.2 1.0 1.0 13

 14 FHLB 0.2 0.3 0.4 0.5 0.4 0.8 0.9 0.9 1.0 0.9 14

 15 Mortgages 1.0 1.0 0.9 0.9 0.9 1.0 1.0 1.1 1.2 1.3 15

 16 Home 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Multifamily residential 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Farm 1.0 1.0 0.9 0.9 0.9 1.0 1.0 1.1 1.2 1.3 22

 23 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous assets 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.3 24

 25 Total liabilities 2.1 2.1 2.3 2.6 2.6 3.0 3.4 3.5 3.7 4.1 25

 26 Credit market instruments 0.9 1.2 1.3 1.6 1.4 1.8 2.1 2.1 2.1 2.1 26

 27 GSE issues (4) 0.9 1.2 1.3 1.6 1.4 1.8 2.1 2.1 2.1 2.1 27

 28 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other 0.9 1.2 1.3 1.6 1.4 1.8 2.1 2.1 2.1 2.1 29

 30 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Miscellaneous liabilities 1.2 1.0 1.0 1.1 1.1 1.2 1.4 1.4 1.6 2.0 31

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.123) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

L.123 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 1

 2 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 5

 6 Total pool securities (liabilities)(2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (table L.122). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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Historical Annuals, 1945-1954, June 6, 2013 77

L.124 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Mortgages (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Home 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Multifamily residential 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Commercial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Trade credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Total liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate bonds (net) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 Memo:

 Securitized assets not included above

 14 Consumer leases (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 REIT assets (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 Securitized liabilities not included above

 16 Commercial paper (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Liabilities net of assets.

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

 The leased automobile is a nonfinancial asset.

(5) Included in table L.126.

(6) Included in table L.110 line 43.

L.125 Finance Companies (1)

Billions of dollars

 1 Total financial assets 4.3 5.0 5.7 6.8 7.9 9.7 10.1 12.5 14.3 15.1 1

 2 Checkable deposits and currency 0.5 0.5 0.4 0.6 0.6 0.8 0.9 0.9 0.9 0.9 2

 3 Time and savings deposits 0.2 0.2 0.1 0.2 0.2 0.3 0.3 0.3 0.3 0.3 3

 4 Credit market instruments 3.6 4.3 5.0 5.9 6.8 8.2 8.7 10.8 12.5 13.2 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Other loans and advances 2.7 2.6 2.4 2.5 2.2 2.5 2.7 3.1 3.3 3.3 6

 7 Mortgages 0.1 0.2 0.2 0.2 0.3 0.5 0.4 0.6 0.6 0.8 7

 8 Consumer credit 0.9 1.5 2.4 3.2 4.3 5.3 5.6 7.1 8.6 9.1 8

 9 Miscellaneous assets 0.0 0.1 0.2 0.2 0.2 0.4 0.3 0.5 0.6 0.8 9

 10 Total liabilities 1.0 1.9 2.6 3.9 5.0 6.8 7.4 9.4 11.1 11.0 10

 11 Credit market instruments 0.5 1.2 1.7 2.9 3.9 5.3 6.0 7.5 8.9 8.3 11

 12 Open market paper 0.1 0.2 0.3 0.5 0.7 0.7 1.1 1.4 1.6 1.5 12

 13 Corporate bonds 0.1 0.2 0.3 0.8 1.1 1.3 1.7 1.7 3.1 2.8 13

 14 Depository institution loans n.e.c. 0.3 0.8 1.0 1.6 2.1 3.3 3.2 4.4 4.2 4.0 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 15

 16 Taxes payable 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.2 0.3 0.2 16

 17 Miscellaneous liabilities 0.5 0.7 0.9 0.9 1.0 1.3 1.2 1.7 1.8 2.5 17

 18 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Other 0.5 0.6 0.9 0.9 1.0 1.3 1.2 1.7 1.8 2.5 20

 Memo:

 21 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table L.124.
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78 Historical Annuals, 1945-1954, June 6, 2013

L.126 Real Estate Investment Trusts (REITs)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Home 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Multifamily residential 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Commercial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Total liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 14

 15 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 Memo:

 19 Securitized assets included above 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 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 20

 21 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23
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Historical Annuals, 1945-1954, June 6, 2013 79

L.127 Security Brokers and Dealers

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 5.0 3.4 2.6 3.1 3.7 4.0 3.8 4.1 4.6 5.6 1

 2 Checkable deposits and currency 0.5 0.7 0.6 0.6 0.5 0.6 0.6 0.5 0.5 0.6 2

 3 Credit market instruments 2.7 1.6 0.9 1.5 1.5 1.4 1.2 1.5 1.6 1.6 3

 4 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 1.9 0.9 0.3 0.8 0.7 0.6 0.3 0.7 0.6 0.7 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.3 0.3 0.2 0.3 0.3 0.4 0.4 0.2 0.4 0.3 7

 8 Corporate and foreign bonds 0.5 0.4 0.4 0.4 0.6 0.4 0.5 0.5 0.5 0.7 8

 9 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate equities 0.6 0.5 0.5 0.5 0.6 0.5 0.6 0.6 0.6 0.7 10

 11 Security credit 1.3 0.6 0.6 0.6 1.0 1.5 1.4 1.5 1.9 2.7 11

 12 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Total liabilities 5.2 3.6 2.8 3.3 3.8 4.2 3.9 4.3 4.7 5.7 13

 14 Security RPs (net) -3.6 -1.6 -1.2 -1.0 -0.9 -1.1 -1.0 -1.1 -1.2 -1.5 14

 15 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Trade payables 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 18

 19 Security credit 7.6 4.0 2.8 3.0 3.5 4.0 3.7 4.2 4.6 6.0 19

 20 Customer credit balances (HH) 0.8 0.8 0.8 0.7 0.8 1.1 1.0 0.8 0.8 1.1 20

 21 From U.S.-chartered depository institutions 6.8 3.2 2.1 2.3 2.6 2.9 2.6 3.2 3.6 4.5 21

 22 From foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.2 0.3 0.4 22

 23 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous liabilities 1.2 1.2 1.2 1.2 1.2 1.1 1.1 1.1 1.0 1.0 24

 25 Foreign direct investment in U.S. 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 25

 26 Investment by funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Other 1.0 1.0 1.0 1.0 1.0 1.0 0.9 0.9 0.9 0.8 27

(1) 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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80 Historical Annuals, 1945-1954, June 6, 2013

L.128 Holding Companies (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Net trans. with depository subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Net trans. with life insurance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Net trans. with finance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net trans. with broker and dealer subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net trans. with foreign subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Total liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Federal funds and security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

(1) Parent only bank holding companies and savings and loan holding companies that file the Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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Historical Annuals, 1945-1954, June 6, 2013 81

L.129 Funding Corporations (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 1

 2 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 4

 5 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 5

 6 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Investment in foreign banking offices 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Investment in brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Total liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 12

 13 Credit market instruments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 14

 15 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 18

 19 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Securities loaned (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 22

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP.
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82 Historical Annuals, 1945-1954, June 6, 2013

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 0.0 -0.2 0.9 1.3 1.5 1.4 1.4 1.5 1.4 1.2 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 2

 3 Rest of the world 0.0 -0.2 0.9 1.3 1.5 1.4 1.4 1.5 1.4 1.2 3

 4 SDR holdings 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserve position in IMF (net) 0.0 -0.2 0.9 1.3 1.5 1.4 1.4 1.5 1.4 1.2 5

 6 Foreign currency holdings 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Total assets 20.1 20.5 23.8 25.7 26.0 24.3 24.3 24.7 23.5 23.0 7

 8 Federal government 0.0 -0.1 1.3 1.7 1.9 1.6 1.6 1.6 1.5 1.3 8

 9 Monetary gold (2) 0.0 0.2 0.1 0.2 0.1 0.1 0.2 0.1 0.1 0.1 9

 10 SDR holdings 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Reserve position in IMF (net) 0.0 -0.2 1.2 1.6 1.7 1.5 1.5 1.5 1.4 1.2 11

 12 Foreign currency holdings 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Rest of the world: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Monetary authority 20.1 20.5 22.5 24.0 24.1 22.7 22.7 23.2 22.0 21.7 14

 15 Monetary gold (2) 20.1 20.5 22.8 24.2 24.4 22.7 22.7 23.2 22.0 21.7 15

 16 Reserve position in IMF (net) 0.0 0.0 -0.3 -0.3 -0.3 -0.0 -0.0 -0.0 -0.0 -0.0 16

 17 Foreign currency holdings 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Discrepancy: monetary gold -20.1 -20.7 -22.9 -24.4 -24.6 -22.8 -22.9 -23.3 -22.1 -21.8 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 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 2

 Treasury currency:

 3 Liab: Federal government 2.3 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.5 2.5 3

 4 Asset: Monetary authority 4.2 4.4 4.4 4.4 4.4 4.5 4.6 4.7 4.7 4.8 4

 5 Discrepancy (seigniorage) -1.9 -2.0 -2.0 -2.0 -2.1 -2.1 -2.2 -2.2 -2.3 -2.3 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 0.0 0.1 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.2 1

 Held by:

 2 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Nonfinancial corporate business 0.0 0.1 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.2 3

 4 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Discrepancy--unallocated assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5
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Historical Annuals, 1945-1954, June 6, 2013 83

L.203 Net Interbank Transactions

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 19.5 19.3 21.5 24.0 20.5 23.0 25.7 25.6 25.3 23.7 1

 2 Monetary authority 17.8 18.2 20.1 22.5 18.6 19.9 22.8 22.7 22.7 21.3 2

 3 U.S.-chartered depository institutions 2.0 1.4 1.5 1.5 1.7 2.8 2.6 2.5 2.4 2.1 3

 4 Foreign banking offices in U.S. 0.1 0.1 0.2 0.4 0.6 0.7 0.9 1.1 1.1 1.2 4

 5 Banks in U.S.-affiliated areas -0.2 -0.2 -0.2 -0.2 -0.1 -0.1 -0.2 -0.2 -0.2 -0.2 5

 6 Credit unions -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.4 -0.5 -0.6 -0.8 6

 7 Total assets 19.0 19.0 21.0 23.5 20.0 22.4 25.6 25.6 25.3 23.9 7

 8 Rest of the world 0.4 0.2 0.3 0.5 0.8 1.1 1.7 1.8 1.7 1.7 8

 9 Monetary authority 0.8 0.6 0.6 0.6 0.5 1.4 1.2 1.1 0.9 0.8 9

 10 U.S.-chartered depository institutions 17.8 18.2 20.1 22.5 18.6 19.9 22.8 22.7 22.7 21.3 10

 11 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 11

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

 13 Discrepancy 0.5 0.3 0.5 0.4 0.6 0.7 0.1 0.0 0.0 -0.2 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 1.9 2.0 2.2 2.0 2.0 2.2 2.7 2.8 2.5 2.5 14

 15 Asset: U.S.-chartered depository institutions 1.9 2.0 2.2 2.0 2.0 2.2 2.7 2.8 2.5 2.5 15

 Depository institution reserves:

 16 Liab.: Monetary authority 15.9 16.1 17.9 20.5 16.6 17.7 20.1 20.0 20.2 18.9 16

 17 Asset: U.S.-chartered depository institutions 15.9 16.1 17.9 20.5 16.6 17.7 20.1 20.0 20.2 18.9 17

 18 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 18

 19 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Other transactions with the monetary authority

 20 Liab: U.S.-chartered depository institutions 0.8 0.6 0.6 0.6 0.5 1.4 1.2 1.1 0.9 0.8 20

 21 Asset: Monetary authority 0.8 0.6 0.6 0.6 0.5 1.4 1.2 1.1 0.9 0.8 21

 22 Federal Reserve float 0.6 0.6 0.5 0.5 0.5 1.4 1.2 1.0 0.9 0.8 22

 23 Loans to member banks 0.2 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.0 0.0 23

 Transactions with banks in foreign countries (net):

 24 Liab.: U.S.-chartered depository institutions (net) 0.4 0.2 0.3 0.3 0.4 0.6 0.7 0.7 0.6 0.5 24

 25 Due to foreign affiliates 0.4 0.2 0.3 0.3 0.4 0.6 0.7 0.7 0.6 0.5 25

 26 - Due from foreign affiliates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Foreign banking offices in U.S. (net) 0.1 0.1 0.2 0.4 0.6 0.8 1.0 1.2 1.2 1.4 27

 28 Due to foreign affiliates 0.1 0.2 0.3 0.5 0.7 0.9 1.2 1.4 1.4 1.7 28

 29 - Due from foreign affiliates 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.3 0.3 29

 30 Less: Deposits at foreign banks 0.0 0.1 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 30

 31 U.S.-chartered depository institutions 0.0 0.1 0.2 0.1 0.1 0.2 0.1 0.1 0.1 0.1 31

 32 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 32

 33 Asset: Rest of the world (1) 0.4 0.2 0.3 0.5 0.8 1.1 1.7 1.8 1.7 1.7 33

 Transactions between U.S. depository institutions (net) (2):

 34 U.S.-chartered depository institutions (net) 0.9 0.7 0.9 0.8 0.9 1.1 0.7 0.8 0.9 0.9 34

 35 Due to (3): 0.9 0.7 0.9 0.8 0.9 1.1 0.8 0.9 0.9 0.9 35

 36 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.2 36

 37 Banks in U.S.-affiliated areas 0.2 0.2 0.2 0.2 0.1 0.1 0.2 0.2 0.2 0.2 37

 38 Credit unions 0.2 0.2 0.2 0.2 0.2 0.2 0.4 0.5 0.6 0.8 38

 39 - Due from: 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 39

 40 Unallocated (2) 0.5 0.3 0.5 0.4 0.6 0.7 0.1 0.0 0.0 -0.2 40

(1) Sum of lines 24 and 27 less line 30.

(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 40), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 36, 37, 38, and 40.
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84 Historical Annuals, 1945-1954, June 6, 2013

L.204 Checkable Deposits and Currency

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 133.7 119.1 120.2 119.6 119.6 124.9 132.1 138.7 138.7 143.3 1

 2 Monetary authority 31.1 30.4 29.3 29.4 28.5 28.2 28.6 29.9 29.8 29.9 2

 3 Federal government cash and deposits 3.3 2.7 2.2 2.4 2.1 2.0 1.5 1.7 1.1 1.4 3

 4 Due to government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Deposits due to foreign 1.2 0.8 0.4 0.7 0.8 0.6 0.5 0.6 0.4 0.5 5

 6 Currency outside banks 26.6 26.9 26.7 26.2 25.6 25.6 26.5 27.7 28.3 28.0 6

 7 U.S.-chartered depository institutions 101.4 87.7 89.9 89.4 90.2 95.7 102.4 107.5 107.6 112.1 7

 8 Federal government deposits 24.5 3.0 1.3 2.3 3.1 2.8 3.4 4.9 4.1 4.2 8

 9 Deposits due to foreign 1.4 1.4 1.2 1.5 1.1 1.3 1.1 1.3 0.9 1.1 9

 10 Private domestic deposits 75.5 83.3 87.4 85.5 86.0 91.6 98.0 101.3 102.6 106.8 10

 11 Foreign banking offices in U.S. 0.2 0.2 0.1 0.1 0.2 0.2 0.3 0.4 0.4 0.5 11

 12 Deposits due to foreign 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.1 12

 13 Private domestic deposits 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.3 0.3 13

 14 Banks in U.S.-affiliated areas 0.9 0.9 0.9 0.8 0.8 0.8 0.8 0.9 0.9 0.9 14

 15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Total assets 133.7 119.1 120.2 119.6 119.6 124.9 132.1 138.7 138.7 143.3 16

 17 Household sector 55.4 60.6 60.4 58.1 56.3 58.9 63.3 65.5 66.8 68.9 17

 18 Nonfinancial business 36.1 37.3 39.4 39.3 40.2 41.7 43.9 44.2 43.9 46.1 18

 19 Corporate 19.1 19.7 21.6 22.0 23.0 24.4 26.0 26.8 26.7 28.5 19

 20 Noncorporate 17.0 17.6 17.7 17.3 17.1 17.4 17.9 17.4 17.2 17.6 20

 21 State and local governments 3.7 4.6 5.3 5.8 6.0 6.5 6.9 7.2 7.6 7.9 21

 22 Federal government 26.9 4.2 3.7 4.8 5.2 4.9 5.1 7.4 5.9 5.6 22

 23 Rest of the world 2.7 2.3 1.7 2.2 2.0 2.0 1.7 2.0 1.5 1.7 23

 24 Checkable deposits 2.7 2.3 1.7 2.2 2.0 2.0 1.7 2.0 1.5 1.7 24

 25 Currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Financial sectors 2.7 3.1 3.4 3.4 3.6 4.1 4.3 4.5 4.7 4.7 26

 27 Property-casualty insurance companies 0.7 0.9 1.0 1.1 1.1 1.2 1.2 1.3 1.4 1.3 27

 28 Life insurance companies 0.8 0.8 1.0 0.9 0.9 1.0 1.1 1.1 1.2 1.2 28

 29 Private pension funds 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.3 0.4 0.4 29

 30 State and local govt. retirement funds 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 30

 31 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Government-sponsored enterprises 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 32

 33 Finance companies 0.5 0.5 0.4 0.6 0.6 0.8 0.9 0.9 0.9 0.9 33

 34 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Brokers and dealers 0.5 0.7 0.6 0.6 0.5 0.6 0.6 0.5 0.5 0.6 35

 36 Mail float 6.2 7.1 6.3 6.0 6.3 6.7 6.9 7.9 8.3 8.4 36
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Historical Annuals, 1945-1954, June 6, 2013 85

L.205 Time and Savings Deposits 

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 53.5 60.0 63.6 66.2 69.2 71.9 76.8 85.0 94.3 104.8 1

 2 Small time and savings deposits 50.3 56.6 60.0 62.2 64.9 67.3 72.3 80.2 88.5 97.8 2

 3 U.S.-chartered depository institutions 49.9 56.2 59.5 61.6 64.2 66.5 71.2 78.8 86.8 95.8 3

 4 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 4

 5 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit unions 0.4 0.4 0.5 0.6 0.7 0.9 1.1 1.4 1.7 2.0 6

 7 Large time deposits (1) 3.2 3.4 3.6 3.9 4.3 4.6 4.5 4.9 5.8 7.0 7

 8 U.S.-chartered depository institutions 3.2 3.3 3.5 3.9 4.2 4.5 4.4 4.7 5.6 6.8 8

 9 Foreign banking offices in U.S. 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.2 0.2 9

 10 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

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

 12 Total assets 53.5 60.0 63.6 66.2 69.2 71.9 76.8 85.0 94.3 104.8 12

 13 Household sector 50.2 56.6 60.0 62.2 64.8 67.2 72.2 79.7 87.9 97.2 13

 14 Nonfinancial business 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.1 14

 15 Corporate 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.1 15

 16 Noncorporate 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 State and local governments 0.5 0.7 0.9 1.1 1.3 1.4 1.5 1.6 2.0 2.4 17

 18 Federal government 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.4 0.3 0.4 18

 19 Rest of the world 1.6 1.6 1.6 1.6 1.7 2.0 1.7 1.8 2.4 2.9 19

 20 Financial sectors 0.2 0.2 0.1 0.2 0.2 0.3 0.3 0.7 0.8 0.8 20

 21 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.5 0.6 21

 22 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 22

 23 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Finance companies 0.2 0.2 0.1 0.2 0.2 0.3 0.3 0.3 0.3 0.3 25

 26 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Total assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 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 10

 11 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11
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86 Historical Annuals, 1945-1954, June 6, 2013

L.207 Federal Funds and Security Repurchase Agreements

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities -3.6 -1.6 -1.3 -1.1 -1.0 -1.1 -1.0 -1.1 -1.2 -1.5 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Private depository institutions (net) 0.0 0.0 -0.1 -0.1 -0.1 -0.1 0.0 0.0 0.0 -0.0 3

 4 U.S.-chartered depository institutions (net) 0.0 0.0 -0.1 -0.1 -0.1 -0.1 0.0 0.0 0.0 -0.0 4

 5 Foreign banking offices in U.S. (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit unions (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Brokers and dealers (net) -3.6 -1.6 -1.2 -1.0 -0.9 -1.1 -1.0 -1.1 -1.2 -1.5 10

 11 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Total assets 0.0 0.0 0.0 0.0 0.0 0.1 0.2 1.1 0.9 0.4 12

 13 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.2 14

 15 Rest of the world (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.7 0.6 0.0 16

 17 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 19

 20 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 20

 21 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 22

 23 Government-sponsored enterprises (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Discrepancy--unallocated assets -3.6 -1.6 -1.3 -1.1 -1.0 -1.2 -1.2 -2.2 -2.1 -1.9 26
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Historical Annuals, 1945-1954, June 6, 2013 87

L.208 Open Market Paper

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total outstanding, all types 0.3 0.6 0.8 0.9 1.1 1.3 1.8 2.2 2.6 2.9 1

 2 Commercial paper 0.2 0.3 0.5 0.7 0.8 0.9 1.3 1.7 2.0 2.0 2

 3 Nonfinancial corporate business 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 3

 4 Foreign issues in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Nonfinancial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Financial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Financial business 0.1 0.2 0.3 0.5 0.7 0.7 1.1 1.4 1.6 1.5 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Finance companies 0.1 0.2 0.3 0.5 0.7 0.7 1.1 1.4 1.6 1.5 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Bankers’ acceptances (1) 0.2 0.2 0.3 0.3 0.3 0.4 0.5 0.5 0.6 0.9 14

 15 U.S.-chartered depository institutions 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.4 0.5 0.7 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 16

 17 Holdings, by sector 0.3 0.6 0.8 0.9 1.1 1.3 1.8 2.2 2.6 2.9 17

 18 Household sector 0.0 0.1 0.1 0.2 0.3 0.4 0.8 1.0 1.3 1.1 18

 19 Nonfinancial corporate business 0.0 0.0 0.1 0.2 0.3 0.1 0.1 0.2 0.2 0.3 19

 20 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Rest of the world 0.0 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.4 0.6 21

 22 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 U.S.-chartered depository institutions (1) 0.2 0.3 0.4 0.3 0.3 0.4 0.4 0.5 0.5 0.7 23

 24 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 24

 25 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 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 29

 30 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Mutual funds 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 31

 32 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 34

(1) Excludes banks’ holdings of own acceptances.
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88 Historical Annuals, 1945-1954, June 6, 2013

L.209 Treasury Securities

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 251.2 227.9 220.7 214.2 216.7 216.1 215.8 220.8 226.2 228.5 1

 2 Savings bonds 42.9 44.2 46.2 47.8 49.3 49.6 49.1 49.2 49.4 50.0 2

 3 Treasury bills 55.2 47.0 36.4 38.7 42.0 19.0 47.2 38.4 45.9 48.0 3

 4 Other Treasury securities 153.0 136.8 138.1 127.6 125.4 147.6 119.5 133.2 130.9 130.6 4

 5 Total assets 251.2 227.9 220.7 214.2 216.7 216.1 215.8 220.8 226.2 228.5 5

 6 Household sector 66.5 65.1 65.1 65.8 67.3 66.5 65.4 67.4 68.0 66.1 6

 7 Savings bonds 42.9 44.2 46.2 47.8 49.3 49.6 49.1 49.2 49.4 50.0 7

 8 Bills and other Treasury securities 23.6 21.0 18.8 18.0 18.0 16.9 16.3 18.2 18.7 16.1 8

 9 Nonfinancial corporate business 18.5 12.8 12.3 12.9 14.7 17.9 18.7 17.6 19.2 17.5 9

 10 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 State and local governments 5.5 5.2 5.9 6.3 6.3 6.9 7.3 8.5 9.3 9.8 11

 12 Rest of the world 2.6 2.1 2.7 2.8 2.9 4.3 4.3 4.5 5.0 5.5 12

 13 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Other Treasury securities 2.6 2.1 2.7 2.8 2.9 4.3 4.3 4.5 5.0 5.5 14

 15 Monetary authority 24.3 23.4 22.6 23.3 18.9 20.7 23.6 24.0 25.3 24.9 15

 16 Treasury bills 21.2 22.2 18.2 11.6 11.1 3.6 13.2 5.7 8.4 16.0 16

 17 Other Treasury securities 3.1 1.1 4.3 11.8 7.8 17.1 10.4 18.3 16.9 8.8 17

 18 U.S.-chartered depository institutions 103.7 88.6 82.9 75.6 79.9 74.4 73.0 74.6 74.6 79.8 18

 19 Foreign banking offices in U.S. 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.5 19

 20 Banks in U.S.-affiliated areas 0.6 0.5 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 20

 21 Credit unions 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 21

 22 Property-casualty insurance companies 2.7 3.3 3.9 4.4 4.8 5.3 5.4 5.8 6.0 6.1 22

 23 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other Treasury securities 2.7 3.3 3.9 4.4 4.8 5.3 5.4 5.8 6.0 6.1 24

 25 Life insurance companies 20.6 21.6 20.0 16.8 15.3 13.5 11.0 10.3 9.8 9.1 25

 26 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Other Treasury securities 20.6 21.6 20.0 16.8 15.3 13.5 11.0 10.3 9.8 9.1 27

 28 Private pension funds 2.1 2.1 2.2 2.2 2.3 2.3 2.4 2.5 2.6 2.7 28

 29 State and local govt. retirement funds 1.5 1.7 1.9 2.1 2.3 2.5 2.9 3.4 3.9 4.4 29

 30 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Other Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Mutual funds 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 34

 35 Closed-end funds 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 35

 36 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Government-sponsored enterprises 0.4 0.4 0.3 0.5 0.5 0.4 0.4 0.5 0.6 0.8 37

 38 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Brokers and dealers 1.9 0.9 0.3 0.8 0.7 0.6 0.3 0.7 0.6 0.7 39

 40 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 Memo:

 41 Federal government debt (1) 251.5 228.0 220.8 215.1 217.7 216.5 216.1 221.4 228.4 230.8 41

(1) Total Treasury securities (line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 11).
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Historical Annuals, 1945-1954, June 6, 2013 89

L.210 Agency- and GSE-Backed Securities (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 1.2 1.3 1.4 2.5 2.5 2.2 2.3 2.8 4.4 4.5 1

 2 Budget agencies 0.3 0.1 0.1 0.9 1.0 0.4 0.2 0.6 2.3 2.3 2

 3 Government-sponsored enterprises 0.9 1.2 1.3 1.6 1.4 1.8 2.1 2.1 2.1 2.1 3

 4 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 4

 5 Total assets 1.2 1.3 1.4 2.5 2.5 2.2 2.3 2.8 4.4 4.5 5

 6 Household sector 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.0 0.2 0.1 6

 7 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 State and local governments 0.2 0.1 0.1 0.3 0.3 0.2 0.4 0.6 0.5 0.7 8

 9 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 U.S.-chartered depository institutions 0.9 1.0 1.1 2.0 2.1 1.9 1.8 2.2 3.7 3.6 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 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 19

 20 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 Mac, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown in table L.209, line 35.
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90 Historical Annuals, 1945-1954, June 6, 2013

L.211 Municipal Securities and Loans

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 12.1 12.2 13.8 15.1 16.1 20.7 22.8 29.7 35.0 40.7 1

 2 State and local governments 12.1 12.2 13.8 15.1 16.1 20.7 22.8 29.7 35.0 40.7 2

 3 Short-term (1) 0.3 0.3 0.5 0.7 0.9 1.3 1.6 1.8 1.9 2.1 3

 4 Long-term 11.8 11.9 13.3 14.5 15.2 19.4 21.2 27.9 33.1 38.6 4

 5 Nonprofit organizations (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 (industrial revenue bonds)

 7 Total assets 12.1 12.2 13.8 15.1 16.1 20.7 22.8 29.7 35.0 40.7 7

 8 Household sector 3.9 3.8 4.5 4.6 3.7 5.5 5.7 11.0 13.9 16.0 8

 9 Nonfinancial corporate business 0.3 0.3 0.4 0.5 0.5 0.7 0.8 0.8 1.0 1.0 9

 10 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 State and local governments 1.8 1.5 1.4 1.4 1.7 2.0 2.1 2.1 2.3 2.5 11

 12 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 U.S.-chartered depository institutions 4.1 4.5 5.3 5.7 6.6 8.2 9.3 10.5 11.2 13.2 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 14

 15 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 15

 16 Credit unions 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 0.2 0.2 0.3 0.5 0.8 1.1 1.4 1.9 2.6 3.4 17

 18 Life insurance companies 0.7 0.6 0.6 0.9 1.1 1.2 1.1 1.2 1.3 1.8 18

 19 State and local govt. retirement funds 0.8 0.9 1.0 1.2 1.3 1.5 1.7 1.9 2.1 2.4 19

 20 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Closed-end funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Brokers and dealers 0.3 0.3 0.2 0.3 0.3 0.4 0.4 0.2 0.4 0.3 25

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

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
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Historical Annuals, 1945-1954, June 6, 2013 91

L.212 Corporate and Foreign Bonds

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 26.9 27.9 30.8 35.6 38.8 40.9 44.9 49.6 54.4 57.6 1

 2 Nonfinancial corporate business 23.9 24.9 27.7 32.0 34.9 36.5 39.8 44.5 48.0 51.5 2

 3 Rest of the world (1) 2.9 2.8 2.8 2.9 2.9 3.1 3.4 3.4 3.3 3.3 3

 4 Financial sectors 0.1 0.2 0.3 0.8 1.1 1.3 1.7 1.7 3.1 2.8 4

 5 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 5

 6 ABS issuers (net) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Finance companies 0.1 0.2 0.3 0.8 1.1 1.3 1.7 1.7 3.1 2.8 7

 8 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Total assets (3) 26.9 27.9 30.8 35.6 38.8 40.9 44.9 49.6 54.4 57.6 12

 13 Household sector 8.4 7.5 6.6 6.7 6.3 6.0 6.3 6.0 6.0 4.9 13

 14 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Federal government 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 (4) 0.5 0.2 0.3 0.2 0.3 0.3 0.3 0.4 0.4 0.4 16

 17 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other 0.5 0.2 0.3 0.2 0.3 0.3 0.3 0.4 0.4 0.4 18

 19 U.S.-chartered depository institutions 3.5 3.7 4.0 4.1 4.5 4.6 4.6 4.8 5.0 5.1 19

 20 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Other 3.5 3.7 4.0 4.1 4.5 4.6 4.6 4.8 5.0 5.1 21

 22 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 22

 23 Banks in U.S.-affiliated areas 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 24

 25 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Property-casualty insurance companies 0.5 0.5 0.6 0.7 0.7 0.7 0.8 1.0 1.1 1.1 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other 0.5 0.5 0.6 0.7 0.7 0.7 0.8 1.0 1.1 1.1 29

 30 Life insurance companies 11.3 13.1 16.1 20.4 22.9 24.8 27.5 30.6 33.3 35.4 30

 31 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other 11.3 13.1 16.1 20.4 22.9 24.8 27.5 30.6 33.3 35.4 32

 33 Private pension funds 1.8 2.0 2.2 2.4 2.6 2.8 3.5 4.5 5.6 6.9 33

 34 State and local govt. retirement funds 0.1 0.2 0.2 0.3 0.4 0.6 0.7 1.0 1.5 2.1 34

 35 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Mutual funds 0.1 0.2 0.1 0.2 0.2 0.2 0.3 0.3 0.3 0.4 37

 38 Closed-end funds 0.1 0.2 0.2 0.2 0.3 0.3 0.3 0.4 0.4 0.5 38

 39 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

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

 43 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Brokers and dealers 0.5 0.4 0.4 0.4 0.6 0.4 0.5 0.5 0.5 0.7 45

 46 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

(1) Holdings of foreign issues by U.S. residents.

(2) Liabilities net of assets.

(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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92 Historical Annuals, 1945-1954, June 6, 2013

L.213 Corporate Equities (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Issues at market value 117.7 109.7 107.6 106.5 116.9 142.7 166.5 168.6 164.6 224.3 1

 2 Nonfinancial corporate business 103.7 97.3 95.1 94.1 103.8 126.7 147.6 146.6 144.1 194.8 2

 3 Rest of the world (2) 0.9 1.0 1.0 0.9 0.7 1.2 1.4 1.5 1.3 1.9 3

 4 Financial corporations 13.1 11.4 11.5 11.4 12.4 14.8 17.5 20.5 19.2 27.6 4

 5 Holdings at market value 117.7 109.7 107.6 106.5 116.9 142.7 166.5 168.6 164.6 224.3 5

 6 Household sector 109.7 101.6 99.2 98.0 105.6 129.8 152.1 151.0 145.8 198.8 6

 7 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Rest of the world (3) 2.7 2.7 2.5 2.3 2.5 2.9 3.5 3.7 3.7 5.3 9

 10 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 U.S.-chartered depository institutions 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.6 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Property-casualty insurance companies 1.8 1.7 1.7 1.8 2.2 2.6 2.9 3.2 3.3 4.5 13

 14 Life insurance companies 1.0 1.2 1.4 1.4 1.7 2.1 2.2 2.4 2.6 3.3 14

 15 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.3 1.8 2.4 3.2 15

 16 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 16

 17 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Mutual funds 1.0 1.0 1.2 1.2 2.7 2.9 2.9 3.3 3.5 5.4 18

 19 Closed-end funds 0.8 0.8 1.0 1.1 1.4 1.6 1.8 2.0 2.2 2.5 19

 20 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Brokers and dealers 0.6 0.5 0.5 0.5 0.6 0.5 0.6 0.6 0.6 0.7 21

 22 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 Memo:

 23 Market value of domestic corporations (4) 113.5 105.6 103.2 102.0 111.8 136.6 159.7 160.9 156.6 214.1 23

(1) Excludes mutual fund shares shown on table L.214.

(2) Holdings of foreign issues by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Holdings of U.S. issues by foreign residents.

(4) Sum of lines 2 and 4 less the sum of lines 11, 12, 13, 19, 20, 21, and 22; line 1 excludes intercorporate holdings of nonfinancial corporations.

L.214 Mutual Fund Shares (1)

Billions of dollars

 1 Shares at market value 1.2 1.3 1.4 1.5 3.1 3.3 3.5 3.9 4.1 6.1 1

 2 Holdings at market value 1.2 1.3 1.4 1.5 3.1 3.3 3.5 3.9 4.1 6.1 2

 3 Household sector 1.2 1.3 1.4 1.5 3.1 3.3 3.5 3.9 4.1 6.1 3

 4 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 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 7

 8 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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Historical Annuals, 1945-1954, June 6, 2013 93

L.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 11.3 16.4 20.6 22.1 20.3 25.9 31.2 33.4 32.1 32.1 1

 2 Household sector 0.3 0.2 0.2 0.2 0.2 0.3 0.5 0.3 0.4 0.6 2

 3 Corporate business 8.8 12.4 15.4 16.1 14.2 17.8 22.1 22.9 22.3 21.6 3

 4 Noncorporate business 1.3 2.2 2.9 3.0 2.8 3.8 4.6 4.9 4.4 4.7 4

 5 Rest of the world 0.5 0.8 1.0 1.2 0.9 0.7 0.8 0.9 0.7 1.2 5

 6 Foreign official institutions 0.0 0.0 0.1 0.1 0.1 0.2 0.3 0.3 0.2 0.4 6

 7 Foreign banks 0.1 0.5 0.4 0.6 0.3 0.3 0.4 0.3 0.3 0.4 7

 8 Other foreign 0.3 0.3 0.5 0.6 0.5 0.2 0.1 0.3 0.2 0.3 8

 9 Financial sectors 0.3 0.8 1.0 1.6 2.1 3.3 3.2 4.4 4.2 4.0 9

 10 Finance companies 0.3 0.8 1.0 1.6 2.1 3.3 3.2 4.4 4.2 4.0 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Total assets 11.3 16.4 20.6 22.1 20.3 25.9 31.2 33.4 32.1 32.1 15

 16 Monetary authority (2) 0.0 0.1 0.1 0.2 0.1 0.0 0.0 0.0 0.0 0.1 16

 17 U.S.-chartered depository institutions 11.1 16.1 20.3 21.6 19.9 25.5 30.7 32.7 31.5 31.3 17

 18 Foreign banking offices in U.S. 0.1 0.2 0.2 0.3 0.4 0.4 0.6 0.6 0.6 0.6 18

 19 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table L.108.
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94 Historical Annuals, 1945-1954, June 6, 2013

L.216 Other Loans and Advances

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total other loans and advances 9.3 12.8 17.3 19.1 19.7 21.1 22.6 24.2 26.0 26.1 1

 2 U.S. government loans 3.7 7.1 11.5 12.8 13.5 13.9 14.6 15.6 17.1 16.7 2

 3 Liab.: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business 0.7 0.5 0.5 0.5 0.6 0.6 0.6 0.7 1.0 0.8 4

 5 Nonfinancial noncorporate business 0.9 1.8 2.1 2.2 2.5 2.7 3.0 3.2 3.5 3.7 5

 6 State and local governments 0.5 0.5 0.5 0.6 0.5 0.6 0.8 1.1 0.8 0.4 6

 7 Rest of the world 1.6 4.3 8.4 9.5 9.9 10.0 10.2 10.6 11.9 11.7 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Foreign loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.4 0.5 0.7 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 14

 15 Liab.: Nonfinancial corporate business 0.1 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.4 0.6 15

 16 Rest of the world 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.3 16

 17 Holding company loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Policy loans (Household liability) 2.1 2.0 2.1 2.2 2.4 2.6 2.8 2.9 3.1 3.4 20

 21 Asset: Federal government 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 21

 22 Life insurance companies 2.0 1.9 1.9 2.1 2.2 2.4 2.6 2.7 2.9 3.1 22

 23 Government-sponsored enterprise loans (1) 0.7 0.8 1.1 1.4 1.3 1.8 2.1 2.1 1.9 1.9 23

 24 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Nonfinancial noncorporate business (FCS) 0.5 0.5 0.7 0.8 0.9 1.0 1.2 1.2 1.0 1.0 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 0.2 0.3 0.4 0.5 0.4 0.8 0.9 0.9 1.0 0.9 27

 28 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Finance company loans to business 2.7 2.6 2.4 2.5 2.2 2.5 2.7 3.1 3.3 3.3 32

 33 Liab.: Nonfinancial corporate business 2.4 2.4 2.1 2.2 2.0 2.2 2.4 2.8 2.9 2.9 33

 34 Nonfinancial noncorporate business 0.3 0.3 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 34

 35 Loans to nonfinancial corporate business (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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Historical Annuals, 1945-1954, June 6, 2013 95

L.217 Total Mortgages

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total mortgages 35.8 42.0 49.2 56.5 63.0 73.2 82.5 91.5 101.4 113.5 1

 2 Home 18.7 23.1 28.2 33.4 37.7 45.3 51.7 58.4 66.0 75.3 2

 3 Multifamily residential 4.9 5.3 5.8 6.7 7.8 9.3 10.6 11.5 12.1 12.7 3

 4 Commercial 7.5 8.8 10.1 11.2 11.9 12.5 13.5 14.4 15.6 17.3 4

 5 Farm 4.8 4.9 5.1 5.3 5.6 6.1 6.7 7.2 7.7 8.2 5

 6 Total liabilities 35.8 42.0 49.2 56.5 63.0 73.2 82.5 91.5 101.4 113.5 6

 7 Household sector 19.0 23.5 28.7 34.1 38.7 46.6 53.3 60.3 68.1 77.7 7

 8 Nonfinancial business 16.8 18.5 20.4 22.4 24.3 26.6 29.2 31.3 33.3 35.8 8

 9 Corporate 8.5 9.3 10.5 11.5 12.2 12.6 13.2 13.5 14.1 14.6 9

 10 Noncorporate 8.3 9.2 9.9 10.9 12.1 14.0 16.0 17.8 19.1 21.2 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Total assets 35.8 42.0 49.2 56.5 63.0 73.2 82.5 91.5 101.4 113.5 13

 14 Household sector 12.2 13.7 15.0 16.2 17.0 17.6 18.6 19.2 20.2 21.4 14

 15 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 State and local governments 0.0 0.0 0.1 0.1 0.2 0.2 0.3 0.4 0.5 0.6 17

 18 Federal government 1.4 1.0 0.9 1.0 1.5 1.8 2.3 2.9 3.3 3.4 18

 19 U.S.-chartered depository institutions 14.3 18.7 22.9 26.7 29.6 35.1 39.7 45.0 51.1 58.7 19

 20 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 20

 21 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.2 0.2 21

 22 Credit unions 0.1 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.4 0.4 22

 23 Property-casualty insurance companies 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 23

 24 Life insurance companies 6.6 7.2 8.7 10.8 12.9 16.1 19.3 21.3 23.3 26.0 24

 25 Private pension funds 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.2 0.2 25

 26 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.2 26

 27 Government-sponsored enterprises (1) 1.0 1.0 0.9 0.9 0.9 1.0 1.0 1.1 1.2 1.3 27

 28 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 28

 29 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Finance companies 0.1 0.2 0.2 0.2 0.3 0.5 0.4 0.6 0.6 0.8 30

 31 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31
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96 Historical Annuals, 1945-1954, June 6, 2013

L.218 Home Mortgages (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 18.7 23.1 28.2 33.4 37.7 45.3 51.7 58.4 66.0 75.3 1

 2 Household sector 18.7 23.1 28.2 33.4 37.7 45.3 51.7 58.4 66.0 75.3 2

 3 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Total assets 18.7 23.1 28.2 33.4 37.7 45.3 51.7 58.4 66.0 75.3 5

 6 Household sector 5.4 6.2 6.8 7.3 7.5 7.7 8.0 8.0 8.3 8.5 6

 7 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments 0.0 0.0 0.1 0.1 0.2 0.2 0.3 0.4 0.4 0.5 9

 10 Federal government 0.9 0.7 0.6 0.7 1.2 1.5 2.0 2.5 2.8 2.8 10

 11 U.S.-chartered depository institutions 9.9 13.3 16.8 19.8 22.1 26.5 30.0 34.6 40.0 46.9 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 13

 14 Credit unions 0.1 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.4 0.4 14

 15 Life insurance companies 2.3 2.5 3.5 4.9 6.1 8.5 10.6 11.8 13.2 15.2 15

 16 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 16

 17 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 17

 18 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 19

 20 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Finance companies 0.1 0.1 0.2 0.2 0.2 0.4 0.3 0.5 0.5 0.7 21

 22 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 Memo:

 23 Home equity loans included above (2) ND ND ND ND ND ND ND ND ND ND 23

 24 U.S.-chartered depository institutions ND ND ND ND ND ND ND ND ND ND 24

 25 Foreign banking offices in U.S. ND ND ND ND ND ND ND ND ND ND 25

 26 Credit unions ND ND ND ND ND ND ND ND ND ND 26

 27 ABS issuers ND ND ND ND ND ND ND ND ND ND 27

 28 Finance companies ND ND ND ND ND ND ND ND ND ND 28

(1) Mortgages on 1-4 family properties including mortages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 4.9 5.3 5.8 6.7 7.8 9.3 10.6 11.5 12.1 12.7 1

 2 Nonfinancial corporate business 0.2 0.3 0.3 0.3 0.4 0.5 0.5 0.6 0.6 0.6 2

 3 Nonfinancial noncorporate business 4.7 5.0 5.5 6.3 7.4 8.8 10.1 10.9 11.5 12.0 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Total assets 4.9 5.3 5.8 6.7 7.8 9.3 10.6 11.5 12.1 12.7 6

 7 Household sector 1.4 1.5 1.7 2.0 2.3 2.6 2.9 3.2 3.4 3.7 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 8

 9 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.3 11

 12 U.S.-chartered depository institutions 2.1 2.3 2.4 2.8 3.1 3.9 4.6 4.8 5.0 5.1 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies 1.4 1.5 1.6 1.8 2.3 2.6 3.0 3.3 3.4 3.4 14

 15 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 15

 16 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 16

 17 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 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 18

 19 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Finance companies 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 0.1 20

 21 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21
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Historical Annuals, 1945-1954, June 6, 2013 97

L.220 Commercial Mortgages

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 7.5 8.8 10.1 11.2 11.9 12.5 13.5 14.4 15.6 17.3 1

 2 Household sector 0.3 0.4 0.5 0.7 1.0 1.3 1.6 1.8 2.1 2.4 2

 3 Nonfinancial corporate business 8.2 9.0 10.1 11.1 11.7 12.0 12.6 12.7 13.4 13.8 3

 4 Nonfinancial noncorporate business -1.0 -0.6 -0.5 -0.6 -0.8 -0.8 -0.6 -0.2 0.1 1.1 4

 5 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Total assets 7.5 8.8 10.1 11.2 11.9 12.5 13.5 14.4 15.6 17.3 6

 7 Household sector 3.5 3.9 4.5 4.8 4.9 4.9 5.0 5.2 5.5 6.0 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 8

 9 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 U.S.-chartered depository institutions 1.8 2.4 2.8 3.2 3.4 3.7 4.1 4.5 4.9 5.6 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Property-casualty insurance companies 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 15

 16 Life insurance companies 2.2 2.3 2.7 3.1 3.4 3.7 4.1 4.5 4.9 5.4 16

 17 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 17

 18 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 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 19

 20 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

L.221 Farm Mortgages (1)

Billions of dollars

 1 Total liabilities 4.8 4.9 5.1 5.3 5.6 6.1 6.7 7.2 7.7 8.2 1

 2 Nonfinancial corporate business 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 2

 3 Nonfinancial noncorporate business 4.7 4.8 4.9 5.2 5.5 5.9 6.5 7.1 7.6 8.1 3

 4 Total assets 4.8 4.9 5.1 5.3 5.6 6.1 6.7 7.2 7.7 8.2 4

 5 Household sector 1.9 2.1 2.1 2.2 2.3 2.5 2.7 2.9 3.0 3.1 5

 6 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 7

 8 Federal government 0.5 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.4 8

 9 U.S.-chartered depository institutions 0.5 0.7 0.9 0.9 0.9 1.0 1.1 1.1 1.1 1.2 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 0.8 0.8 0.9 1.0 1.1 1.3 1.5 1.7 1.9 2.0 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 1.0 1.0 0.9 0.9 0.9 1.0 1.0 1.1 1.2 1.3 13

 14 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 14

(1) Excludes mortgages on farm houses.
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98 Historical Annuals, 1945-1954, June 6, 2013

L.222 Consumer Credit

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities (Households) 6.8 9.8 13.3 16.3 19.4 23.9 25.4 30.5 34.6 36.0 1

 2 Total assets 6.8 9.8 13.3 16.3 19.4 23.9 25.4 30.5 34.6 36.0 2

 3 Nonfinancial corporate business 2.8 3.3 4.1 4.9 5.5 6.6 7.2 7.1 7.3 7.7 3

 4 Nonfinancial noncorporate business 0.6 0.7 0.8 0.9 1.0 1.1 1.3 2.7 2.8 2.8 4

 5 Federal government (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 U.S.-chartered depository institutions 2.5 4.3 6.0 7.2 8.5 10.6 11.0 13.2 15.0 15.4 6

 7 Credit unions 0.0 0.0 0.1 0.1 0.2 0.3 0.3 0.6 0.9 1.1 7

 8 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Finance companies 0.9 1.5 2.4 3.2 4.3 5.3 5.6 7.1 8.6 9.1 10

(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.

L.223 Trade Credit

Billions of dollars

 1 Total trade payables 21.5 27.6 31.4 34.3 34.5 45.1 46.9 48.9 49.5 53.8 1

 2 Household sector 0.5 0.7 0.8 0.9 0.9 1.0 1.0 1.1 1.2 1.3 2

 3 Nonfinancial corporate business 13.7 20.1 23.4 25.0 24.8 32.7 32.4 33.1 32.9 34.9 3

 4 Nonfinancial noncorporate business 3.6 5.1 6.1 7.2 7.5 8.7 9.0 9.6 10.0 11.7 4

 5 State and local governments 0.6 0.8 0.6 0.8 1.0 1.1 1.2 1.6 2.2 2.7 5

 6 Federal government 2.7 0.7 0.0 0.0 0.0 1.1 2.7 2.8 2.6 2.4 6

 7 Rest of the world 0.4 0.3 0.4 0.4 0.4 0.4 0.5 0.5 0.5 0.5 7

 8 Brokers and dealers 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.2 0.2 8

 9 Total trade receivables 27.1 30.3 35.8 38.0 37.1 49.1 53.6 59.5 59.0 62.8 9

 10 Nonfinancial corporate business 19.8 22.6 27.6 29.6 28.6 38.6 42.0 45.9 45.0 48.4 10

 11 Nonfinancial noncorporate business 4.5 5.6 5.9 5.9 6.0 7.1 7.0 7.8 8.2 8.2 11

 12 State and local governments 1.0 1.2 1.4 1.5 1.4 1.9 2.1 2.2 2.2 2.4 12

 13 Federal government 0.9 0.1 0.0 0.0 0.0 0.4 1.3 2.3 2.2 2.4 13

 14 Rest of the world 0.4 0.4 0.4 0.4 0.3 0.4 0.4 0.4 0.4 0.3 14

 15 Property-casualty insurance companies 0.4 0.5 0.6 0.7 0.7 0.7 0.9 0.9 1.0 1.1 15

 16 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Discrepancy -5.6 -2.7 -4.4 -3.7 -2.6 -4.0 -6.7 -10.6 -9.6 -9.0 17

L.224 Security Credit

Billions of dollars

 1 Total liabilities 8.9 4.6 3.4 3.6 4.4 5.5 5.1 5.7 6.5 8.6 1

 2 Household sector 1.2 0.6 0.6 0.6 0.9 1.5 1.4 1.5 1.8 2.6 2

 3 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 3

 4 Brokers and dealers 7.6 4.0 2.8 3.0 3.5 4.0 3.7 4.2 4.6 6.0 4

 5 Customer credit balances (HH) 0.8 0.8 0.8 0.7 0.8 1.1 1.0 0.8 0.8 1.1 5

 6 From U.S.-chartered depository institutions 6.8 3.2 2.1 2.3 2.6 2.9 2.6 3.2 3.6 4.5 6

 7 From foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.2 0.3 0.4 7

 8 Total assets 8.9 4.6 3.4 3.6 4.4 5.5 5.1 5.7 6.5 8.6 8

 9 Household sector 0.7 0.7 0.7 0.7 0.7 1.0 0.9 0.7 0.7 1.0 9

 10 Rest of the world 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 10

 11 U.S.-chartered depository institutions 6.8 3.2 2.1 2.3 2.6 2.9 2.6 3.2 3.6 4.5 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.2 0.3 0.4 12

 13 Brokers and dealers 1.3 0.6 0.6 0.6 1.0 1.5 1.4 1.5 1.9 2.7 13
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Historical Annuals, 1945-1954, June 6, 2013 99

L.225 Life Insurance and Pension Fund Reserves

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Life insurance reserves:

 1 Total liabilities 39.6 43.4 46.5 49.4 52.1 55.0 57.8 60.7 63.6 66.3 1

 2 Federal government 3.6 4.8 5.4 5.6 5.7 6.0 6.1 6.2 6.3 6.0 2

 3 Life insurance companies 36.0 38.6 41.1 43.8 46.4 49.1 51.6 54.5 57.4 60.4 3

 4 Net change in assets 39.6 43.4 46.5 49.4 52.1 55.0 57.8 60.7 63.6 66.3 4

 5 Households 39.6 43.4 46.5 49.4 52.1 55.0 57.8 60.7 63.6 66.3 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 Pension fund reserves:

 8 Total liabilities 12.0 13.3 15.4 17.8 20.5 23.2 26.8 33.5 38.5 43.9 8

 9 Life insurance companies 2.7 3.1 3.6 4.2 4.8 5.6 6.6 7.7 8.8 10.0 9

 10 Private pension funds (1) 3.8 4.0 4.5 5.0 5.5 6.0 7.1 10.7 12.8 15.0 10

 11 State and local govt. retirement funds 2.6 2.9 3.2 3.6 4.2 4.9 5.6 6.6 8.0 9.5 11

 12 Federal government retirement funds (2) 2.9 3.3 4.1 4.9 6.0 6.7 7.5 8.4 8.9 9.4 12

 13 Total assets (Households) (3) 12.0 13.3 15.4 17.8 20.5 23.2 26.8 33.5 38.5 43.9 13

(1) Includes unallocated insurance company contracts beginning 1985:Q4.

(2) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(3) Excludes all individual retirement accounts (IRAs) (table L.225.i), except those at life insurance companies.

L.226 Taxes Payable by Businesses

Billions of dollars

 1 Total taxes payable by all businesses 10.5 8.6 10.7 11.6 9.5 16.9 21.6 18.8 19.9 16.4 1

 2 Nonfinancial corporate business 10.1 8.1 10.3 11.1 8.8 16.1 20.5 17.4 18.0 14.8 2

 3 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 U.S.-chartered depository institutions 0.3 0.4 0.2 0.3 0.3 0.5 0.6 0.8 1.0 0.9 4

 5 Property-casualty insurance companies 0.0 0.0 0.0 0.1 0.2 0.2 0.1 0.2 0.4 0.2 5

 6 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.2 6

 7 Finance companies 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.2 0.3 0.2 7

 8 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Total business taxes receivable 10.1 8.7 11.1 11.9 9.6 17.0 22.1 9.8 7.8 5.0 9

 10 State and local governments 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 10

 11 Federal government 9.6 8.2 10.6 11.4 9.1 16.5 21.6 9.3 7.4 4.5 11

 12 Discrepancy 0.4 -0.1 -0.4 -0.3 -0.1 -0.1 -0.5 9.0 12.1 11.4 12

L.227 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household equity 193.2 229.3 259.4 276.6 278.6 294.4 320.5 322.2 321.9 325.7 1

 2 Nonfinancial noncorporate business 193.2 229.3 259.4 276.6 278.6 294.4 320.5 322.2 321.9 325.7 2

 3 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3
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100 Historical Annuals, 1945-1954, June 6, 2013

L.228 Total Miscellaneous Financial Claims

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 30.1 31.8 35.9 39.4 43.2 48.6 51.8 58.7 62.8 68.6 1

 2 Household sector 0.6 0.7 0.8 0.8 0.9 1.0 1.1 1.2 1.3 1.3 2

 3 Nonfinancial corporate business 2.0 2.4 2.8 3.2 3.4 4.8 5.1 6.0 6.4 7.3 3

 4 Nonfinancial noncorporate business 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 4

 5 Federal government 7.5 7.8 8.4 9.0 9.5 10.1 10.7 11.3 11.6 11.8 5

 6 Rest of the world 9.4 9.2 10.3 11.3 12.6 14.0 15.2 17.7 19.1 20.7 6

 7 Monetary authority 0.1 0.1 0.3 0.3 0.5 0.9 0.4 0.5 0.6 0.5 7

 8 U.S.-chartered depository institutions 0.5 0.9 1.1 1.6 1.8 2.2 2.3 2.7 2.8 3.4 8

 9 Foreign banking offices in U.S. -0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 9

 10 Banks in U.S.-affiliated areas 0.2 0.2 0.2 0.1 0.1 0.1 0.2 0.2 0.2 0.2 10

 11 Credit unions -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.1 0.1 0.1 0.2 11

 12 Property-casualty insurance companies 3.9 4.6 5.4 6.2 6.8 7.4 8.2 9.3 10.1 10.7 12

 13 Life insurance companies 2.9 3.2 3.6 3.8 4.2 4.5 4.9 5.5 6.0 6.7 13

 14 Government-sponsored enterprises 1.2 1.0 1.0 1.1 1.1 1.2 1.4 1.4 1.6 2.0 14

 15 Finance companies 0.5 0.7 0.9 0.9 1.0 1.3 1.2 1.7 1.8 2.5 15

 16 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Brokers and dealers 1.2 1.2 1.2 1.2 1.2 1.1 1.1 1.1 1.0 1.0 17

 18 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 19

 20 Total assets 27.8 29.2 31.5 34.8 37.9 41.7 45.1 51.6 56.1 60.1 20

 21 Household sector 6.3 7.1 7.6 8.0 8.4 8.7 9.3 10.6 11.3 11.7 21

 22 Nonfinancial corporate business 7.5 7.7 9.1 10.6 11.9 13.0 14.5 16.3 18.2 19.6 22

 23 Nonfinancial noncorporate business 1.5 1.7 1.9 2.1 2.3 2.4 2.6 2.9 3.2 3.5 23

 24 State and local governments 0.2 0.3 0.6 0.5 0.4 0.8 0.7 0.4 0.4 0.3 24

 25 Federal government 1.5 1.2 1.3 1.2 1.4 1.4 1.3 1.3 1.3 1.5 25

 26 Rest of the world 5.3 5.4 3.9 4.0 3.7 4.0 4.6 5.6 6.1 6.2 26

 27 Monetary authority 0.1 0.1 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.2 27

 28 U.S.-chartered depository institutions 1.5 1.2 1.3 1.3 1.6 1.7 1.6 2.2 2.5 3.3 28

 29 Foreign banking offices in U.S. -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.0 -0.1 -0.0 29

 30 Banks in U.S.-affiliated areas 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 30

 31 Credit unions -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 31

 32 Property-casualty insurance companies 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 32

 33 Life insurance companies 1.0 1.0 1.1 1.2 1.3 1.6 1.8 1.9 2.1 2.3 33

 34 Private pension funds -0.1 -0.2 -0.0 0.2 0.3 0.4 0.4 0.8 0.9 1.0 34

 35 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 35

 36 Federal government retirement funds 2.9 3.3 4.1 4.9 6.0 6.7 7.5 8.4 8.9 9.4 36

 37 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Government-sponsored enterprises 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.3 39

 40 Finance companies 0.0 0.1 0.2 0.2 0.2 0.4 0.3 0.5 0.6 0.8 40

 41 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Discrepancy 2.2 2.7 4.4 4.6 5.3 6.9 6.7 7.1 6.8 8.5 45
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Historical Annuals, 1945-1954, June 6, 2013 101

L.229 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world 7.2 7.2 8.4 9.6 10.7 11.8 13.0 14.7 16.3 17.6 1

 2 Asset: Nonfinancial corporate business 7.0 7.0 8.1 9.3 10.4 11.4 12.6 14.3 15.7 17.0 2

 3 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 3

 4 Property-casualty insurance companies 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 4

 5 Life insurance companies 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 5

 6 Finance companies 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 6

 7 Brokers and dealers 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 7

 Foreign direct investment in U.S.:

 8 Liab.: Nonfinancial corporate business 1.5 1.5 1.6 1.7 1.9 2.3 2.6 2.8 3.1 3.3 8

 9 Nonfinancial noncorporate business 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 9

 10 Foreign banking offices in U.S. 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 10

 11 Property-casualty insurance companies 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.4 0.4 11

 12 Life insurance companies 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.4 12

 13 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Brokers and dealers 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 14

 15 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Asset: Rest of the world 2.5 2.5 2.6 2.8 2.9 3.4 3.7 3.9 4.3 4.6 16

 Federal government equity in IBRD, etc.:

 17 Liab.: Rest of the world 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 17

 18 Asset: Federal government 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 18

 Federal Reserve Bank stock:

 19 Liab.: Monetary authority 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 19

 20 Asset: U.S.-chartered depository institutions 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 20

 Equity in government-sponsored enterprises:

 21 Liab.: Government-sponsored enterprises 0.7 0.6 0.6 0.6 0.6 0.6 0.6 0.7 0.8 0.9 21

 22 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Nonfinancial noncorporate (FCS) 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 23

 24 Federal government 0.4 0.4 0.4 0.4 0.3 0.3 0.2 0.2 0.2 0.3 24

 25 U.S.-chartered depository institutions (FHLB) 0.1 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.4 0.4 25

 26 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 Holding company net transactions with subsidiaries:

 28 Liab.: 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 28

 29 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Asset: Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 NFC investment in finance company subsidiaries:

 35 Liab.: Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Asset: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 Funding corporations’ investment in subsidiaries:

 37 Liab.: 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 37

 38 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Asset: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 Equity investment under Public-Private Inv. Program:

 40 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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L.230 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 0.4 0.2 0.3 0.2 0.4 0.4 0.4 0.4 0.4 0.5 1

 2 Asset: Federal government 0.4 0.2 0.3 0.2 0.4 0.4 0.4 0.4 0.4 0.5 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government 3.0 3.4 3.5 3.4 3.3 3.0 2.8 2.7 2.5 2.2 4

 5 Asset: Household sector 3.0 3.4 3.5 3.4 3.3 3.0 2.8 2.7 2.5 2.2 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 0.0 0.1 0.1 0.1 0.3 0.2 0.3 0.4 0.6 0.8 6

 7 Asset: U.S.-chartered depository institutions 0.0 0.1 0.1 0.1 0.3 0.2 0.3 0.4 0.6 0.8 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 0.6 0.7 0.8 0.8 0.9 1.0 1.1 1.2 1.3 1.3 8

 9 Asset: Life insurance companies 0.6 0.7 0.8 0.8 0.9 1.0 1.1 1.2 1.3 1.3 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 1.4 1.6 1.7 1.9 2.1 2.4 2.6 3.6 4.0 4.3 10

 11 Accident and health 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.4 0.5 0.5 11

 12 Policy dividend accumulation 1.3 1.5 1.6 1.7 1.9 2.1 2.3 2.5 2.8 3.1 12

 13 Contract claims 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 0.7 0.7 13

 14 Asset: Household sector 1.4 1.6 1.7 1.9 2.1 2.4 2.6 3.6 4.0 4.3 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 3.6 4.3 5.1 5.9 6.5 7.0 7.9 8.9 9.7 10.3 15

 16 Asset: Household sector 1.9 2.1 2.4 2.6 2.9 3.3 3.8 4.4 4.9 5.1 16

 17 Nonfinancial corporate business 0.4 0.7 1.0 1.2 1.4 1.4 1.6 1.7 1.8 1.9 17

 18 Nonfinancial noncorporate business 1.3 1.5 1.8 2.0 2.2 2.3 2.5 2.8 3.1 3.3 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Asset: Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Pension fund contributions payable:

 21 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.2 21

 22 Asset: Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.2 22

 Securities borrowed (net):

 23 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Asset: Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 Nonmarketable government securities:

 25 Liab.: Federal government 2.9 3.3 4.1 4.9 6.0 6.7 7.5 8.4 8.9 9.4 25

 26 Asset: Federal government retirement funds 2.9 3.3 4.1 4.9 6.0 6.7 7.5 8.4 8.9 9.4 26

 Retiree health care funds (2):

 27 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

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

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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L.231 Unidentified Miscellaneous Financial Claims

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total liabilities 6.8 7.1 7.8 8.2 8.7 11.1 11.1 12.7 13.2 15.4 1

 2 Nonfinancial corporate business 0.5 0.9 1.2 1.5 1.5 2.4 2.5 3.0 3.1 3.8 2

 3 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Federal government 1.6 1.2 0.8 0.6 0.3 0.3 0.5 0.3 0.2 0.2 4

 5 Rest of the world 1.2 1.1 0.9 0.8 0.8 1.1 1.1 1.9 1.8 1.9 5

 6 Monetary authority -0.0 -0.1 0.1 0.1 0.3 0.6 0.2 0.3 0.3 0.3 6

 7 U.S.-chartered depository institutions 0.5 0.9 1.1 1.6 1.8 2.2 2.3 2.7 2.8 3.4 7

 8 Foreign banking offices in U.S. -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.3 8

 9 Banks in U.S.-affiliated areas 0.2 0.2 0.2 0.1 0.1 0.1 0.2 0.2 0.2 0.2 9

 10 Credit unions -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.1 0.1 0.1 0.2 10

 11 Life insurance companies 1.2 1.3 1.6 1.6 1.8 1.8 2.0 1.6 1.8 2.0 11

 12 Government-sponsored enterprises 0.5 0.3 0.3 0.3 0.3 0.4 0.4 0.3 0.3 0.3 12

 13 Finance companies 0.5 0.6 0.9 0.9 1.0 1.3 1.2 1.7 1.8 2.5 13

 14 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Brokers and dealers 1.0 1.0 1.0 1.0 1.0 1.0 0.9 0.9 0.9 0.8 15

 16 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 17

 18 Total assets 4.6 4.5 3.5 3.6 3.4 4.2 4.4 5.7 6.4 6.9 18

 19 Nonfinancial corporate business 0.1 0.0 0.0 0.1 0.1 0.2 0.3 0.4 0.6 0.7 19

 20 Nonfinancial noncorporate business -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 20

 21 State and local governments 0.2 0.3 0.6 0.5 0.4 0.8 0.7 0.4 0.4 0.3 21

 22 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Rest of the world 2.8 2.9 1.3 1.2 0.7 0.6 1.0 1.7 1.8 1.5 23

 24 Monetary authority 0.1 0.1 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.2 24

 25 U.S.-chartered depository institutions 1.2 0.9 0.9 0.9 1.0 1.1 0.8 1.2 1.3 1.7 25

 26 Foreign banking offices in U.S. -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.0 -0.1 -0.0 26

 27 Banks in U.S.-affiliated areas 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 27

 28 Credit unions -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 28

 29 Life insurance companies 0.2 0.2 0.2 0.3 0.3 0.5 0.6 0.6 0.7 0.8 29

 30 Private pension funds -0.1 -0.2 -0.0 0.2 0.3 0.4 0.4 0.7 0.7 0.7 30

 31 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 31

 32 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Government-sponsored enterprises 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.3 34

 35 Finance companies 0.0 0.1 0.2 0.1 0.2 0.3 0.2 0.5 0.5 0.7 35

 36 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Brokers and dealers -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 37

 38 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Discrepancy 2.2 2.7 4.4 4.6 5.3 6.9 6.7 7.1 6.8 8.5 39
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104 Historical Annuals, 1945-1954, June 6, 2013

B.100 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Assets 740.7 816.8 914.7 979.4 1024.6 1125.0 1234.0 1296.2 1343.5 1449.8 1

 2 Nonfinancial assets 181.4 212.8 272.5 313.5 339.9 387.2 430.7 463.8 493.2 520.7 2

 3 Real estate 134.8 158.2 206.5 229.5 247.1 278.3 309.1 335.1 356.1 379.8 3

 4 Households (2,3) 116.0 133.4 177.5 199.3 216.5 243.3 270.9 294.8 315.1 337.6 4

 5 Nonprofit organizations 18.8 24.8 29.0 30.1 30.6 35.0 38.3 40.3 41.0 42.2 5

 Equipment and software owned by

 6 nonprofit organizations (4) 0.4 0.5 0.9 0.9 1.0 1.3 1.6 1.7 2.0 2.2 6

 7 Consumer durable goods (4) 46.2 54.1 65.1 83.1 91.8 107.5 120.0 127.0 135.1 138.7 7

 8 Financial assets 559.3 604.0 642.1 665.9 684.6 737.8 803.3 832.4 850.3 929.1 8

 9 Deposits 105.6 117.1 120.5 120.3 121.2 126.1 135.5 145.2 154.7 166.1 9

 10 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Checkable deposits and currency 55.4 60.6 60.4 58.1 56.3 58.9 63.3 65.5 66.8 68.9 11

 12 Time and savings deposits 50.2 56.6 60.0 62.2 64.8 67.2 72.2 79.7 87.9 97.2 12

 13 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Credit market instruments 91.0 90.3 91.5 93.7 94.6 96.2 96.9 104.6 109.6 109.5 14

 15 Open market paper 0.0 0.1 0.1 0.2 0.3 0.4 0.8 1.0 1.3 1.1 15

 16 Treasury securities 66.5 65.1 65.1 65.8 67.3 66.5 65.4 67.4 68.0 66.1 16

 17 Savings bonds 42.9 44.2 46.2 47.8 49.3 49.6 49.1 49.2 49.4 50.0 17

 18 Other Treasury 23.6 21.0 18.8 18.0 18.0 16.9 16.3 18.2 18.7 16.1 18

 19 Agency- and GSE-backed securities 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.0 0.2 0.1 19

 20 Municipal securities 3.9 3.8 4.5 4.6 3.7 5.5 5.7 11.0 13.9 16.0 20

 21 Corporate and foreign bonds 8.4 7.5 6.6 6.7 6.3 6.0 6.3 6.0 6.0 4.9 21

 22 Other loans and advances (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Mortgages 12.2 13.7 15.0 16.2 17.0 17.6 18.6 19.2 20.2 21.4 23

 24 Corporate equities (2) 109.7 101.6 99.2 98.0 105.6 129.8 152.1 151.0 145.8 198.8 24

 25 Mutual fund shares (6) 1.2 1.3 1.4 1.5 3.1 3.3 3.5 3.9 4.1 6.1 25

 26 Security credit 0.7 0.7 0.7 0.7 0.7 1.0 0.9 0.7 0.7 1.0 26

 27 Life insurance reserves 39.6 43.4 46.5 49.4 52.1 55.0 57.8 60.7 63.6 66.3 27

 28 Pension fund reserves 12.0 13.3 15.4 17.8 20.5 23.2 26.8 33.5 38.5 43.9 28

 29 Equity in noncorporate business (7) 193.2 229.3 259.4 276.6 278.6 294.4 320.5 322.2 321.9 325.7 29

 30 Miscellaneous assets 6.3 7.1 7.6 8.0 8.4 8.7 9.3 10.6 11.3 11.7 30

 31 Liabilities 30.6 37.5 46.5 55.1 63.3 76.8 85.5 97.8 110.5 122.9 31

 32 Credit market instruments 28.2 35.5 44.3 52.8 60.6 73.4 82.0 94.0 106.2 117.7 32

 33 Home mortgages (8) 18.7 23.1 28.2 33.4 37.7 45.3 51.7 58.4 66.0 75.3 33

 34 Consumer credit 6.8 9.8 13.3 16.3 19.4 23.9 25.4 30.5 34.6 36.0 34

 35 Municipal securities (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Depository institution loans n.e.c. 0.3 0.2 0.2 0.2 0.2 0.3 0.5 0.3 0.4 0.6 36

 37 Other loans and advances 2.1 2.0 2.1 2.2 2.4 2.6 2.8 2.9 3.1 3.4 37

 38 Commercial mortgages (9) 0.3 0.4 0.5 0.7 1.0 1.3 1.6 1.8 2.1 2.4 38

 39 Security credit 1.2 0.6 0.6 0.6 0.9 1.5 1.4 1.5 1.8 2.6 39

 40 Trade payables (9) 0.5 0.7 0.8 0.9 0.9 1.0 1.0 1.1 1.2 1.3 40

 Deferred and unpaid

 41 life insurance premiums 0.6 0.7 0.8 0.8 0.9 1.0 1.1 1.2 1.3 1.3 41

 42 Net worth 710.1 779.3 868.2 924.3 961.2 1048.1 1148.5 1198.4 1233.0 1326.8 42

 Memo:

 Replacement-cost value of structures:

 43 Residential 115.0 143.7 172.0 188.2 200.4 229.0 252.2 268.4 281.7 300.4 43

 44 Households 109.8 137.4 164.9 180.9 192.9 220.9 243.7 259.7 273.0 291.5 44

 45 Nonprofit organizations 5.2 6.2 7.1 7.3 7.5 8.1 8.5 8.6 8.7 9.0 45

 46 Nonresidential (nonprofits) 9.8 13.4 16.1 17.1 17.0 19.8 22.0 23.2 23.5 24.4 46

 47 Disposable personal income (SAAR) ND 161.4 171.1 190.5 190.2 209.9 230.8 243.2 258.4 264.1 47

 Household net worth as percentage of

 48 disposable personal income (SAAR) ND 482.8 507.5 485.2 505.3 499.2 497.5 492.7 477.1 502.3 48

 Owners’ equity in household real

 49 estate (10) 97.4 110.3 149.2 165.9 178.8 198.0 219.1 236.3 249.1 262.3 49

 Owners’ equity as percentage of

 50 household real estate (11) 83.9 82.7 84.1 83.2 82.6 81.4 80.9 80.2 79.1 77.7 50

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

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

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

(7) Net worth of nonfinancial noncorporate business (table B.103, line 32) and owners’ equity in unincorporated security brokers and dealers.

(8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens, shown on table L.218, line 23.

(9) Liabilities of nonprofit organizations.

(10) Line 4 less line 33.

(11) Line 49 divided by line 4.
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Historical Annuals, 1945-1954, June 6, 2013 105

B.102 Balance Sheet of Nonfinancial Corporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 269.6 305.9 357.2 388.3 397.5 443.3 491.1 513.8 533.6 546.9 1

 2 Nonfinancial assets 200.7 238.6 281.2 306.8 312.1 341.1 380.8 398.1 414.9 422.6 2

 3 Real estate (1) 131.7 159.4 187.9 199.5 203.9 220.7 240.6 251.4 259.1 265.0 3

 4 Equipment and software (2) 32.7 39.5 49.0 57.6 59.7 68.8 75.7 80.0 87.2 90.4 4

 5 Inventories (2) 36.3 39.7 44.2 49.7 48.4 51.5 64.5 66.7 68.6 67.2 5

 6 Financial assets 68.9 67.3 76.1 81.5 85.4 102.2 110.2 115.7 118.7 124.2 6

 7 Foreign deposits 0.0 0.1 0.1 0.0 0.0 0.1 0.1 0.1 0.1 0.2 7

 8 Checkable deposits and currency 19.1 19.7 21.6 22.0 23.0 24.4 26.0 26.8 26.7 28.5 8

 9 Time and savings deposits 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 0.9 1.1 9

 10 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Commercial paper 0.0 0.0 0.1 0.2 0.3 0.1 0.1 0.2 0.2 0.3 12

 13 Treasury securities 18.5 12.8 12.3 12.9 14.7 17.9 18.7 17.6 19.2 17.5 13

 14 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 14

 15 Municipal securities 0.3 0.3 0.4 0.5 0.5 0.7 0.8 0.8 1.0 1.0 15

 16 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Consumer credit 2.8 3.3 4.1 4.9 5.5 6.6 7.2 7.1 7.3 7.7 17

 18 Trade receivables 19.8 22.6 27.6 29.6 28.6 38.6 42.0 45.9 45.0 48.4 18

 19 Mutual fund shares (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Miscellaneous assets 7.5 7.7 9.1 10.6 11.9 13.0 14.5 16.3 18.2 19.6 20

 21 Liabilities 70.3 80.3 93.2 102.0 101.3 123.9 136.7 141.5 146.4 149.6 21

 22 Credit market instruments 44.6 49.7 56.6 62.7 64.3 70.3 78.8 85.0 89.2 92.6 22

 23 Commercial paper 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 23

 24 Municipal securities (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Corporate bonds (4) 23.9 24.9 27.7 32.0 34.9 36.5 39.8 44.5 48.0 51.5 25

 26 Depository institution loans n.e.c. 8.8 12.4 15.4 16.1 14.2 17.8 22.1 22.9 22.3 21.6 26

 27 Other loans and advances 3.2 3.1 2.9 3.0 2.9 3.1 3.4 3.8 4.3 4.4 27

 28 Mortgages 8.5 9.3 10.5 11.5 12.2 12.6 13.2 13.5 14.1 14.6 28

 29 Trade payables 13.7 20.1 23.4 25.0 24.8 32.7 32.4 33.1 32.9 34.9 29

 30 Taxes payable 10.1 8.1 10.3 11.1 8.8 16.1 20.5 17.4 18.0 14.8 30

 31 Miscellaneous liabilities 2.0 2.4 2.8 3.2 3.4 4.8 5.1 6.0 6.4 7.3 31

 32 Net worth (market value) 199.3 225.6 264.0 286.3 296.2 319.4 354.4 372.2 387.2 397.2 32

 Memo:

 Replacement-cost value of structures:

 33 Residential 2.4 2.9 3.3 3.4 3.5 3.7 3.9 4.0 4.1 4.2 33

 34 Nonresidential 75.3 91.6 128.3 140.6 143.0 158.8 171.0 181.2 187.4 192.3 34

 35 Market value of equities outstanding 103.7 97.3 95.1 94.1 103.8 126.7 147.6 146.6 144.1 194.8 35

 36 Debt/net worth (percent) (5) 22.4 22.1 21.5 21.9 21.7 22.0 22.2 22.8 23.0 23.3 36

 37 Debt/equities (percent) (6) 43.0 51.1 59.5 66.6 62.0 55.5 53.3 58.0 61.9 47.6 37

 38 Equities/net worth (percent) (7) 52.0 43.1 36.0 32.9 35.1 39.7 41.7 39.4 37.2 49.1 38

 With nonfinancial assets stated at historical cost:

 39 Assets (8) 189.6 195.6 231.4 251.9 260.5 296.4 326.4 344.9 363.1 378.3 39

 40 Nonfinancial assets 120.6 128.3 155.3 170.4 175.1 194.1 216.1 229.3 244.3 254.0 40

 41 Real estate 67.2 60.3 73.6 79.1 83.3 88.2 94.7 100.8 108.5 115.2 41

 42 Equipment and software 27.2 30.5 37.1 42.4 46.4 50.8 56.6 62.4 68.5 73.4 42

 43 Inventories 26.3 37.5 44.6 48.9 45.3 55.1 64.8 66.0 67.4 65.5 43

 44 Net worth (historical cost) (9) 119.2 115.3 138.2 149.9 159.2 172.5 189.6 203.4 216.6 228.6 44

 Memo:

 Historical-cost value of structures:

 45 Residential 1.2 1.2 1.3 1.3 1.4 1.4 1.5 1.6 1.6 1.7 45

 46 Nonresidential 58.6 50.8 63.6 68.8 72.9 77.4 83.5 89.9 96.9 103.5 46

 47 Debt/net worth (percent) (10) 37.4 43.2 41.0 41.8 40.4 40.8 41.5 41.8 41.2 40.5 47

 (1) At market value.

 (2) At replacement (current) cost.

 (3) 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.

 (4) 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.

 (5) Line 22 divided by line 32.

 (6) Line 22 divided by line 35.

 (7) Line 35 divided by line 32.

 (8) Sum of lines 6 and 40.

 (9) Line 39 less line 21.

 (10) Line 22 divided by line 44.
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106 Historical Annuals, 1945-1954, June 6, 2013

B.103 Balance Sheet of Nonfinancial Noncorporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Assets 208.1 248.4 281.3 301.0 304.6 324.9 354.6 359.4 360.4 368.4 1

 2 Nonfinancial assets 184.5 222.9 255.0 274.7 278.2 296.8 325.8 328.5 328.9 336.3 2

 3 Real estate (1) 148.9 175.8 201.9 214.3 219.9 232.1 250.7 257.2 259.2 266.6 3

 4 Residential 79.9 94.5 107.8 113.4 116.8 126.4 133.5 137.8 140.5 144.1 4

 5 Nonresidential 69.0 81.2 94.1 100.9 103.1 105.7 117.2 119.4 118.7 122.6 5

 6 Equipment and software (2) 11.5 14.3 16.1 22.1 24.0 28.7 31.6 32.9 34.8 35.1 6

 7 Residential (3) 0.0 0.0 0.0 1.0 1.0 1.2 1.4 1.5 1.6 1.6 7

 8 Nonresidential 11.5 14.3 16.1 21.1 23.0 27.4 30.2 31.4 33.3 33.5 8

 9 Inventories (2) 24.1 32.9 37.0 38.4 34.3 36.1 43.5 38.4 34.9 34.6 9

 10 Financial assets 23.6 25.5 26.3 26.3 26.4 28.1 28.8 30.9 31.4 32.1 10

 11 Checkable deposits and currency 17.0 17.6 17.7 17.3 17.1 17.4 17.9 17.4 17.2 17.6 11

 12 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Credit market instruments 0.6 0.7 0.8 0.9 1.0 1.1 1.3 2.7 2.8 2.8 14

 15 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Consumer credit 0.6 0.7 0.8 0.9 1.0 1.1 1.3 2.7 2.8 2.8 18

 19 Trade receivables 4.5 5.6 5.9 5.9 6.0 7.1 7.0 7.8 8.2 8.2 19

 20 Miscellaneous assets 1.5 1.7 1.9 2.1 2.3 2.4 2.6 2.9 3.2 3.5 20

 21 Insurance receivables 1.3 1.5 1.8 2.0 2.2 2.3 2.5 2.8 3.1 3.3 21

 22 Equity investment in GSEs (4) 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 22

 23 Other -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 23

 24 Liabilities 14.9 19.1 21.9 24.4 26.1 30.4 34.1 37.1 38.4 42.7 24

 25 Credit market instruments 11.3 14.0 15.8 17.2 18.5 21.6 24.9 27.4 28.4 30.9 25

 26 Depository institution loans n.e.c. 1.3 2.2 2.9 3.0 2.8 3.8 4.6 4.9 4.4 4.7 26

 27 Other loans and advances 1.7 2.6 3.0 3.3 3.6 3.9 4.4 4.7 4.8 5.1 27

 28 Mortgages 8.3 9.2 9.9 10.9 12.1 14.0 16.0 17.8 19.1 21.2 28

 29 Trade payables 3.6 5.1 6.1 7.2 7.5 8.7 9.0 9.6 10.0 11.7 29

 30 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Miscellaneous liabilities 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 31

 32 Net worth (5) 193.2 229.3 259.4 276.6 278.6 294.4 320.5 322.2 321.9 325.7 32

 Memo:

 Replacement-cost value of structures:

 33 Residential -115.0 -143.7 -172.0 95.6 97.8 105.7 111.3 113.7 114.7 117.4 33

 34 Nonresidential -88.0 -108.4 -147.0 33.4 32.6 37.1 40.6 42.0 41.8 42.2 34

 35 Debt/net worth (percent) (6) 5.8 6.1 6.1 6.2 6.7 7.4 7.8 8.5 8.8 9.5 35

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Line 1 less line 24. Included in table B.100, line 29.

(6) Line 25 divided by line 32.
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Historical Annuals, 1945-1954, June 6, 2013 107

R.100 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Change in net worth (1) ND 69.2 88.9 56.1 36.9 86.9 100.4 49.9 34.6 93.9 1

 2 Net investment ND 22.4 20.9 22.8 22.6 26.7 30.0 37.6 37.3 28.9 2

 3 Net physical investment -9.3 10.0 21.5 17.9 21.4 27.7 18.1 19.5 22.9 21.7 3

 4 Capital expenditures 7.8 21.6 35.7 37.3 41.8 51.4 45.6 47.2 51.8 53.1 4

 5 - Consumption of fixed capital 17.0 11.6 14.2 19.4 20.5 23.7 27.6 27.7 28.9 31.3 5

 6 Net lending (+) or net borrowing (-) ND 12.3 -0.6 4.8 1.3 -1.0 12.0 18.1 14.5 7.1 6

 7 Net acquisition of financial assets ND 19.2 8.5 13.4 9.5 12.5 20.7 30.4 27.2 19.5 7

 8 - Net increase in liabilities ND 6.9 9.0 8.6 8.3 13.5 8.7 12.3 12.7 12.4 8

 Holding gains on assets

 9 at market value (2) ND 43.9 67.3 22.8 15.3 58.2 63.1 10.8 -2.0 67.7 9

 10 Real estate ND 18.4 37.6 12.5 6.1 17.5 18.3 12.7 7.3 8.4 10

 11 Corporate equities ND -9.2 -3.5 -2.1 7.1 23.5 20.8 -1.9 -5.8 53.1 11

 12 Mutual fund shares ND -0.2 -0.1 -0.0 1.2 0.0 -0.3 -0.1 -0.2 1.5 12

 13 Equity in noncorporate business ND 34.8 33.2 12.5 0.9 16.5 24.0 -0.8 -3.1 4.9 13

 14 Life insurance and pension fund reserves ND 0.0 0.0 -0.0 0.0 0.7 0.3 0.9 -0.2 -0.2 14

 15 Equity investment under PPIP ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 Holding gains on assets

 16 at current cost (2) ND 3.1 0.8 10.6 -0.9 4.3 7.3 0.9 -0.6 -2.5 16

 17 Consumer durable goods ND 3.0 0.5 10.8 -0.9 4.3 7.2 1.0 -0.7 -2.5 17

 18 Equipment and software ND 0.1 0.3 -0.1 -0.0 0.1 0.0 -0.0 0.0 0.0 18

 19 Other volume changes (3) ND -0.1 -0.1 -0.1 -0.1 -2.3 -0.0 0.6 -0.1 -0.2 19

 Memo:

 20 Net worth outstanding (4) 710.1 779.3 868.2 924.3 961.2 1048.1 1148.5 1198.4 1233.0 1326.8 20

 21 Disposable personal income ND 161.4 171.1 190.5 190.2 209.9 230.8 243.2 258.4 264.1 21

(1) Sum of net investment (line 2), holding gains (lines 9 and 16), and other volume changes (line 19).

(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.100, line 42.
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108 Historical Annuals, 1945-1954, June 6, 2013

R.102 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Change in net worth (1) ND 26.3 38.4 22.3 9.9 23.2 34.9 17.9 15.0 10.0 1

 2 Net investment ND 4.3 10.5 9.4 4.2 12.2 12.9 9.4 9.3 8.0 2

 3 Net physical investment ND 16.0 14.8 13.1 -0.2 18.0 17.8 8.8 10.8 5.7 3

 4 Capital expenditures ND 17.4 17.4 20.9 12.5 24.5 29.8 23.7 24.7 21.0 4

 5 - Consumption of fixed capital ND 6.7 8.5 10.0 10.8 11.5 13.1 13.9 14.8 15.6 5

 6 - Inventory valuation adjustment ND -5.3 -5.9 -2.2 1.9 -5.0 -1.2 1.0 -1.0 -0.3 6

 7 Net lending (+) or net borrowing (-) ND -12.7 -5.4 -4.6 3.1 -7.1 -7.0 -1.7 -3.3 0.7 7

 8 Net acquisition of financial assets ND -1.6 8.8 5.4 3.9 16.8 8.0 5.4 3.0 5.5 8

 9 - Net increase in liabilities ND 11.1 14.1 10.1 0.8 23.8 15.0 7.1 6.3 4.8 9

 10 Net corporate equity issues ND 1.0 1.1 1.0 1.2 1.3 2.1 2.3 1.8 1.6 10

 Holding gains on assets

 11 at market value (2) ND 25.0 26.1 8.2 2.5 13.2 15.8 6.9 2.5 1.4 11

 12 Real estate ND 25.0 26.1 8.2 2.5 13.2 15.8 6.9 2.5 1.4 12

 13 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 Holding gains on assets less

 14 liabilities at current cost (2) ND -4.2 2.0 4.5 3.1 -2.5 6.0 2.3 3.2 0.9 14

 15 Equipment and software ND 3.8 4.2 3.7 0.2 4.8 2.3 0.4 2.8 0.0 15

 16 Inventories (3) ND -7.8 -2.5 0.4 2.6 -7.4 3.3 1.1 -0.2 0.3 16

 17 Direct investment abroad ND -0.2 0.4 0.5 0.4 0.5 0.7 0.9 0.8 0.7 17

 18 - Foreign direct investment in U.S. ND -0.0 0.1 0.2 0.1 0.4 0.2 0.1 0.2 0.2 18

 19 Other volume changes (4) ND 1.2 -0.1 0.1 0.1 0.4 0.2 -0.7 -0.0 -0.3 19

 Memo:

 20 Net worth outstanding (5) 199.3 225.6 264.0 286.3 296.2 319.4 354.4 372.2 387.2 397.2 20

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 19).

(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.102, line 32.
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Historical Annuals, 1945-1954, June 6, 2013 109

R.103 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Change in net worth (1) ND 36.1 30.1 17.1 2.0 15.9 26.1 1.7 -0.3 3.7 1

 2 Net capital transfers paid 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net investment ND 1.3 -3.1 4.7 1.1 -0.6 2.0 2.5 2.9 -1.1 3

 4 Net physical investment ND 2.8 -1.2 7.2 2.6 2.1 5.0 3.5 3.6 2.5 4

 5 Capital expenditures ND 6.2 3.1 12.5 8.4 8.4 12.2 11.4 11.7 10.9 5

 6 - Consumption of fixed capital ND 3.5 4.3 5.3 5.9 6.3 7.3 7.9 8.1 8.4 6

 7 Net lending (+) or net borrowing (-) ND -2.8 1.2 -7.2 -2.6 -2.1 -5.0 -3.5 -3.6 -2.5 7

 8 Net acquisition of financial assets ND 1.9 0.8 -0.1 0.2 1.6 0.7 2.1 0.6 0.6 8

 9 - Net increase in liabilities ND 4.7 -0.3 7.1 2.7 3.8 5.7 5.6 4.1 3.2 9

 10 Proprietor’s net investment (2) ND 1.3 -3.1 4.7 1.1 -0.6 2.0 2.5 2.9 -1.1 10

 11 Holding gains on real estate (3) ND 25.5 27.6 10.5 5.1 11.6 16.5 5.3 0.5 5.5 11

 12 Residential ND 14.7 15.7 4.3 4.2 9.0 5.6 3.7 2.0 2.7 12

 13 Nonresidential ND 10.8 11.8 6.2 0.9 2.6 10.9 1.6 -1.5 2.8 13

 14 Holding gains on assets at current cost (3) ND 10.2 5.7 2.0 -4.2 4.9 7.5 -6.1 -3.6 -0.6 14

 15 Residential equipment and software ND -0.3 -0.1 0.8 -0.1 0.1 0.0 -0.0 -0.0 -0.1 15

 16 Nonresidential equipment and software ND 1.8 0.0 2.6 -0.8 3.2 1.5 0.5 0.7 -0.2 16

 17 Inventories ND 8.7 5.8 -1.4 -3.4 1.6 6.0 -6.6 -4.3 -0.4 17

 18 Other volume changes (4) ND -0.9 0.0 -0.1 -0.0 0.0 -0.0 0.0 0.0 -0.0 18

 Memo:

 19 Net worth outstanding (5) 193.2 229.3 259.4 276.6 278.6 294.4 320.5 322.2 321.9 325.7 19

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 18).

(2) Shown on table F.103, line 30.

(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.103, line 32.
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110 Historical Annuals, 1945-1954, June 6, 2013

B.100.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail (1)

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Assets 740.7 816.8 914.7 979.4 1024.6 1125.0 1234.0 1296.2 1343.5 1449.8 1

 2 Nonfinancial assets 181.4 212.8 272.5 313.5 339.9 387.2 430.7 463.8 493.2 520.7 2

 3 Financial assets 559.3 604.0 642.1 665.9 684.6 737.8 803.3 832.4 850.3 929.1 3

 4 Deposits 105.6 117.1 120.5 120.3 121.2 126.1 135.5 145.2 154.7 166.1 4

 5 Credit market instruments 91.0 90.3 91.5 93.7 94.6 96.2 96.9 104.6 109.6 109.5 5

 6 Equity shares at market value 110.8 102.6 100.3 99.2 108.3 132.8 157.3 156.2 151.7 207.5 6

 7 Directly held 109.7 101.6 99.2 98.0 105.6 129.8 152.1 151.0 145.8 198.8 7

 8 Indirectly held 1.0 1.1 1.2 1.2 2.7 2.9 5.2 5.2 6.0 8.6 8

 9 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.9 0.0 0.0 0.0 9

 10 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.3 1.8 2.4 3.2 10

 11 Defined benefit plans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 1.9 2.5 11

 12 Defined contribution plans 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.4 0.5 0.6 12

 13 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 13

 14 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Mutual funds 1.0 1.0 1.2 1.2 2.7 2.9 2.9 3.3 3.5 5.4 15

 16 Other 251.9 293.9 329.9 352.6 360.6 382.8 413.5 426.4 434.3 446.1 16

 17 Liabilities 30.6 37.5 46.5 55.1 63.3 76.8 85.5 97.8 110.5 122.9 17

 18 Net worth 710.1 779.3 868.2 924.3 961.2 1048.1 1148.5 1198.4 1233.0 1326.8 18

 Memo:

 19 Equity shares excluding defined benefit plans 110.8 102.6 100.3 99.2 108.3 132.7 157.3 154.7 149.8 204.8 19

 (line 6 minus lines 11, 13 and part of line 14)

 Equity shares (line 6) as a percent of

 20 Total assets (line 1) 15.0 12.6 11.0 10.1 10.6 11.8 12.8 12.1 11.3 14.3 20

 21 Financial assets (line 3) 19.8 17.0 15.6 14.9 15.8 18.0 19.6 18.8 17.8 22.3 21

(1) Estimates of equity shares (lines 7 through 15) could differ from other sources owing to alternative definitions of ownership of equity by households.

 Prior to 1985, all pension assets are assumed to have been in defined benefit plans.
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Historical Annuals, 1945-1954, June 6, 2013 111

F.105.c Consolidated Statement for Federal, State, and Local Governments

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Current receipts, NIPA basis ND 51.1 56.1 57.4 54.3 66.9 82.8 87.4 91.8 87.1 1

 2 Personal current taxes ND 17.2 19.8 19.2 16.7 18.9 27.1 32.0 33.2 30.2 2

 3 Taxes on production and imports ND 16.8 18.1 19.7 20.9 23.0 24.7 27.1 29.1 28.9 3

 4 Taxes on corporate income ND 9.1 11.3 12.4 10.2 17.9 22.6 19.4 20.3 17.6 4

 5 Taxes from the rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Contributions for govt. social insurance ND 6.6 5.6 4.6 4.9 5.5 6.7 6.9 7.1 8.1 6

 7 Income receipts on assets 0.0 0.4 0.4 0.5 0.5 0.5 0.6 0.7 0.7 0.8 7

 8 Current transfer receipts ND 0.5 0.5 0.6 0.7 0.6 0.7 0.7 0.8 0.9 8

 9 Current surplus of government enterprises 0.0 0.4 0.4 0.3 0.4 0.4 0.5 0.5 0.6 0.7 9

 10 Current expenditures, NIPA basis ND 54.6 49.4 52.5 58.4 60.0 70.6 80.7 86.5 85.6 10

 11 Consumption expenditures ND 36.1 31.7 33.5 36.9 36.9 50.4 61.3 66.5 63.6 11

 12 Government social benefits ND 10.1 10.4 9.9 10.9 13.4 10.5 11.0 11.7 13.7 12

 13 Other current transfer payments ND 2.3 2.0 3.9 5.1 3.6 3.2 2.2 2.1 1.9 13

 14 Interest payments 0.0 4.5 4.6 4.7 4.9 5.0 5.2 5.3 5.5 5.7 14

 15 Subsidies ND 1.6 0.6 0.6 0.7 1.0 1.2 0.9 0.7 0.6 15

 16 - Wage accruals less disbursements ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.0 16

 17 Net saving, NIPA basis ND -3.5 6.7 4.9 -4.1 6.9 12.2 6.7 5.3 1.5 17

 18 + Consumption of fixed capital ND 10.8 10.6 9.6 8.7 7.9 8.6 9.5 10.4 11.1 18

 19 - Insurance and pension fund reserves (1) ND 1.3 1.1 0.6 0.6 0.5 0.3 0.4 0.3 -0.2 19

 20 - Contr. for govt. soc. insur., U.S.-affiliated areas ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 - Net capital transfers (2) ND -0.9 -1.0 -1.1 -0.9 -0.8 -0.9 -1.1 -1.1 -1.2 21

 22 = Gross saving less net capital transfers ND 6.9 17.2 14.9 4.9 15.1 21.5 16.9 16.5 14.0 22

 23 Gross investment ND 12.0 26.7 23.2 13.5 23.0 30.7 21.5 22.8 22.3 23

 24 Fixed investment ND 3.5 4.6 7.0 9.7 9.8 17.6 22.3 24.0 22.5 24

 25 Nonproduced nonfinancial assets 0.1 0.1 0.1 0.1 0.2 0.3 0.3 0.3 0.3 0.4 25

 26 Net lending (+) or net borrowing (-) ND 8.4 22.0 16.0 3.6 12.9 12.8 -1.1 -1.6 -0.6 26

 27 Net acquisition of financial assets ND -14.8 16.0 12.2 7.9 17.8 16.8 11.2 10.7 7.3 27

 28 U.S. official reserve assets ND -0.1 1.4 0.4 0.1 -0.3 0.0 -0.1 -0.1 -0.2 28

 29 Checkable deposits and currency ND -21.9 0.2 1.7 0.6 0.2 0.5 2.7 -1.1 0.0 29

 30 Time and savings deposits ND 0.2 0.2 0.3 0.2 0.1 0.2 0.2 0.3 0.5 30

 31 Money market fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Security RPs ND 0.0 0.0 0.0 0.0 0.0 0.0 0.2 -0.1 -0.0 32

 33 Credit market instruments ND 1.9 4.3 1.6 1.8 0.9 1.3 1.6 1.1 0.5 33

 34 Open market paper ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Agency- and GSE-backed securities (3) ND -0.1 0.0 0.2 0.0 -0.1 0.2 0.2 -0.1 0.1 35

 36 Municipal securities ND -0.3 -0.0 0.0 0.3 0.3 0.0 0.1 0.2 0.2 36

 37 Corporate and foreign bonds ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Mortgages ND -0.3 -0.1 0.1 0.5 0.4 0.7 0.7 0.5 0.2 38

 39 Consumer credit ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Other loans and advances (4) ND 2.6 4.4 1.3 0.9 0.4 0.4 0.7 0.5 -0.1 40

 41 Corporate equities ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Mutual fund shares ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Trade receivables ND -0.7 0.1 0.1 -0.0 0.9 1.1 1.0 -0.0 0.4 43

 44 Taxes receivable ND 5.8 9.6 8.2 5.2 15.6 13.7 6.0 10.6 6.0 44

 45 Miscellaneous assets ND -0.1 0.3 -0.1 0.0 0.4 -0.1 -0.4 0.0 0.1 45

 46 Net increase in liabilities ND -23.3 -6.0 -3.9 4.3 4.9 4.0 12.3 12.3 7.9 46

 47 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 SDR certificates ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 Treasury currency ND 0.1 -0.0 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 49

 50 Credit market instruments ND -23.0 -6.3 -4.8 3.5 2.8 1.2 11.0 11.6 7.6 50

 51 Savings bonds ND 1.2 2.1 1.6 1.5 0.3 -0.5 0.1 0.2 0.6 51

 52 Treasury bills and other Treasury securities (4) ND -24.1 -10.0 -8.5 1.0 -1.3 -0.3 3.7 4.4 1.3 52

 53 Budget agency securities ND -0.2 -0.0 0.8 0.1 -0.6 -0.1 0.4 1.6 0.1 53

 54 Municipal securities ND 0.1 1.6 1.3 1.0 4.5 2.1 6.9 5.4 5.7 54

 55 Multifamily residential mortgages ND 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

 56 Trade payables ND -1.9 -0.8 0.1 0.2 1.2 1.9 0.6 0.3 0.3 56

 57 Insurance reserves ND 1.2 0.6 0.2 0.1 0.3 0.2 0.0 0.1 -0.3 57

 58 Miscellaneous liabilities (5) ND 0.3 0.6 0.5 0.6 0.5 0.7 0.6 0.3 0.2 58

 59 Discrepancy ND -5.1 -9.5 -8.2 -8.7 -7.9 -9.2 -4.6 -6.2 -8.3 59

 Memo:

 60 Net govt. saving less fixed investment (6) ND -7.0 2.2 -2.1 -13.8 -2.9 -5.4 -15.6 -18.7 -21.0 60

 61 Adjustment between NIPA and FOF (7) ND 15.4 19.9 18.2 17.5 15.8 18.2 14.5 17.1 20.4 61

 62 Items to be financed (8) ND 8.4 22.0 16.0 3.6 12.9 12.8 -1.1 -1.6 -0.6 62

(1) 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.

(2) Table F.9, line 60 less line 12.

(3) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(4) Excludes transactions with state and local governments.

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

 retirement fund, and foreign service retirement and disability fund.

(6) Line 17 less line 24.

(7) Line 18 less the sum of lines 19, 20, 21, 25, and 59.

(8) Line 60 plus line 61.
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112 Historical Annuals, 1945-1954, June 6, 2013

L.105.c Consolidated Statement for Federal, State, and Local Governments

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets 51.7 30.5 39.3 44.0 44.3 53.9 62.0 55.1 54.6 53.0 1

 2 U.S. official reserve assets 0.0 -0.1 1.3 1.7 1.9 1.6 1.6 1.6 1.5 1.3 2

 3 Checkable deposits and currency 30.7 8.8 9.0 10.7 11.2 11.4 12.0 14.6 13.5 13.5 3

 4 Time and savings deposits 0.6 0.8 1.0 1.3 1.5 1.6 1.8 2.0 2.3 2.8 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Security RPs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.2 6

 7 Credit market instruments 6.7 9.4 13.7 15.2 16.9 17.8 19.1 20.7 23.2 23.6 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 8

 9 Agency- and GSE-backed securities (1) 0.2 0.1 0.1 0.3 0.3 0.2 0.4 0.6 0.5 0.7 9

 10 Municipal securities 1.8 1.5 1.4 1.4 1.7 2.0 2.1 2.1 2.3 2.5 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Mortgages 1.4 1.1 1.0 1.1 1.6 2.0 2.6 3.3 3.8 4.0 12

 13 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Other loans and advances (2) 3.3 6.8 11.1 12.4 13.2 13.5 14.0 14.6 16.6 16.5 14

 15 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Trade receivables 1.9 1.3 1.4 1.5 1.4 2.3 3.4 4.5 4.4 4.8 17

 18 Taxes receivable 10.1 8.7 11.1 11.9 9.6 17.0 22.1 9.8 7.8 5.0 18

 19 Miscellaneous assets 1.7 1.5 1.9 1.8 1.8 2.2 2.0 1.7 1.7 1.8 19

 20 Total liabilities 274.8 251.5 245.6 241.7 246.0 250.9 254.6 266.9 279.2 287.1 20

 21 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Treasury currency 2.3 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.5 2.5 23

 24 Credit market instruments 258.1 235.1 228.7 224.0 227.5 230.3 231.5 242.5 254.1 261.7 24

 25 Savings bonds 42.9 44.2 46.2 47.8 49.3 49.6 49.1 49.2 49.4 50.0 25

 26 Treasury bills and other Treasury securities (3) 202.7 178.6 168.6 160.1 161.0 159.7 159.4 163.1 167.5 168.7 26

 27 Budget agency securities 0.3 0.1 0.1 0.9 1.0 0.4 0.2 0.6 2.3 2.3 27

 28 Municipal securities 12.1 12.2 13.8 15.1 16.1 20.7 22.8 29.7 35.0 40.7 28

 29 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Trade payables 3.3 1.4 0.6 0.8 1.0 2.2 3.9 4.4 4.8 5.1 30

 31 Insurance reserves 3.6 4.8 5.4 5.6 5.7 6.0 6.1 6.2 6.3 6.0 31

 32 Miscellaneous liabilities (4) 7.5 7.8 8.4 9.0 9.5 10.1 10.7 11.3 11.6 11.8 32

(1) Holdings by state and local governments may include small amounts of budget agency securities issued by the federal government.

(2) Excludes loans to state and local governments.

(3) Excludes Treasury securities owed to state and local governments.

(4) Includes nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.
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F.116.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Net acquisition of financial assets ND ND ND ND ND ND ND ND ND ND 1

 2 Checkable deposits and currency ND ND ND ND ND ND ND ND ND ND 2

 3 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 3

 4 Money market fund shares ND ND ND ND ND ND ND ND ND ND 4

 5 Security RPs ND ND ND ND ND ND ND ND ND ND 5

 6 Credit market instruments ND ND ND ND ND ND ND ND ND ND 6

 7 Open market paper ND ND ND ND ND ND ND ND ND ND 7

 8 Treasury securities ND ND ND ND ND ND ND ND ND ND 8

 9 Agency- and GSE-backed securities ND ND ND ND ND ND ND ND ND ND 9

 10 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 10

 11 Mortgages ND ND ND ND ND ND ND ND ND ND 11

 12 Corporate equities ND ND ND ND ND ND ND ND ND ND 12

 13 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 13

 14 Miscellaneous assets ND ND ND ND ND ND ND ND ND ND 14

 15 Unallocated insurance contracts (1) ND ND ND ND ND ND ND ND ND ND 15

 16 Contributions receivable ND ND ND ND ND ND ND ND ND ND 16

 17 Other ND ND ND ND ND ND ND ND ND ND 17

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.116.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets ND ND ND ND ND ND ND ND ND ND 1

 2 Checkable deposits and currency ND ND ND ND ND ND ND ND ND ND 2

 3 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 3

 4 Money market fund shares ND ND ND ND ND ND ND ND ND ND 4

 5 Security RPs ND ND ND ND ND ND ND ND ND ND 5

 6 Credit market instruments ND ND ND ND ND ND ND ND ND ND 6

 7 Open market paper ND ND ND ND ND ND ND ND ND ND 7

 8 Treasury securities ND ND ND ND ND ND ND ND ND ND 8

 9 Agency- and GSE-backed securities ND ND ND ND ND ND ND ND ND ND 9

 10 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 10

 11 Mortgages ND ND ND ND ND ND ND ND ND ND 11

 12 Corporate equities ND ND ND ND ND ND ND ND ND ND 12

 13 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 13

 14 Miscellaneous assets ND ND ND ND ND ND ND ND ND ND 14

 15 Unallocated insurance contracts (2) ND ND ND ND ND ND ND ND ND ND 15

 16 Contributions receivable ND ND ND ND ND ND ND ND ND ND 16

 17 Other ND ND ND ND ND ND ND ND ND ND 17

(1) Includes 401(k) type plans.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

F.225.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: ND ND ND ND ND ND ND ND ND ND 1

 2 U.S.-chartered depository institutions ND ND ND ND ND ND ND ND ND ND 2

 3 Credit unions ND ND ND ND ND ND ND ND ND ND 3

 4 Life insurance companies ND ND ND ND ND ND ND ND ND ND 4

 5 Money market mutual funds ND ND ND ND ND ND ND ND ND ND 5

 6 Mutual funds ND ND ND ND ND ND ND ND ND ND 6

 7 Other self-directed accounts ND ND ND ND ND ND ND ND ND ND 7

(1) Assets of the household sector (F.100). IRA assets are not included in pension fund reserves (table F.225), except for those at life insurance companies. Figures for depositories (lines 2 and 3)

 include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 4) and are excluded from the mutual fund sector (line 6) and from the money market fund sector (line 5).
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114 Historical Annuals, 1945-1954, June 6, 2013

L.116.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Total financial assets ND ND ND ND ND ND ND ND ND ND 1

 2 Checkable deposits and currency ND ND ND ND ND ND ND ND ND ND 2

 3 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 3

 4 Money market fund shares ND ND ND ND ND ND ND ND ND ND 4

 5 Security RPs ND ND ND ND ND ND ND ND ND ND 5

 6 Credit market instruments ND ND ND ND ND ND ND ND ND ND 6

 7 Open market paper ND ND ND ND ND ND ND ND ND ND 7

 8 Treasury securities ND ND ND ND ND ND ND ND ND ND 8

 9 Agency- and GSE-backed securities ND ND ND ND ND ND ND ND ND ND 9

 10 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 10

 11 Mortgages ND ND ND ND ND ND ND ND ND ND 11

 12 Corporate equities ND ND ND ND ND ND ND ND ND ND 12

 13 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 13

 14 Miscellaneous assets ND ND ND ND ND ND ND ND ND ND 14

 15 Unallocated insurance contracts (1) ND ND ND ND ND ND ND ND ND ND 15

 16 Contributions receivable ND ND ND ND ND ND ND ND ND ND 16

 17 Other ND ND ND ND ND ND ND ND ND ND 17

(1) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.116.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets ND ND ND ND ND ND ND ND ND ND 1

 2 Checkable deposits and currency ND ND ND ND ND ND ND ND ND ND 2

 3 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 3

 4 Money market fund shares ND ND ND ND ND ND ND ND ND ND 4

 5 Security RPs ND ND ND ND ND ND ND ND ND ND 5

 6 Credit market instruments ND ND ND ND ND ND ND ND ND ND 6

 7 Open market paper ND ND ND ND ND ND ND ND ND ND 7

 8 Treasury securities ND ND ND ND ND ND ND ND ND ND 8

 9 Agency- and GSE-backed securities ND ND ND ND ND ND ND ND ND ND 9

 10 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 10

 11 Mortgages ND ND ND ND ND ND ND ND ND ND 11

 12 Corporate equities ND ND ND ND ND ND ND ND ND ND 12

 13 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 13

 14 Miscellaneous assets ND ND ND ND ND ND ND ND ND ND 14

 15 Unallocated insurance contracts (2) ND ND ND ND ND ND ND ND ND ND 15

 16 Contributions receivable ND ND ND ND ND ND ND ND ND ND 16

 17 Other ND ND ND ND ND ND ND ND ND ND 17

(1) Includes 401(k) type plans.

(2) Assets of private pension plans held at life insurance companies (e.g., GICs, variable annuities); series begins 1985:Q4.

L.225.i Individual Retirement Accounts (IRAs) (1)

Billions of dollars

 1 Total held at: ND ND ND ND ND ND ND ND ND ND 1

 2 U.S.-chartered depository institutions ND ND ND ND ND ND ND ND ND ND 2

 3 Credit unions ND ND ND ND ND ND ND ND ND ND 3

 4 Life insurance companies ND ND ND ND ND ND ND ND ND ND 4

 5 Money market mutual funds ND ND ND ND ND ND ND ND ND ND 5

 6 Mutual funds ND ND ND ND ND ND ND ND ND ND 6

 7 Other self-directed accounts ND ND ND ND ND ND ND ND ND ND 7

(1) Assets of the household sector (L.100), shown at market value. IRA assets are not included in pension fund reserves (table L.225), except for those at life insurance companies. Figures for depositories

 (lines 2 and 3) include Keogh accounts. Variable annuities in IRAs are in the life insurance sector (line 4) and are excluded from the mutual fund sector (line 6) and from the money market fund

 sector (line 5).
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S.1.a Total Economy - Current Account

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 (income approach)

 2 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation of employees (paid) ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND ND ND ND ND 7

 8 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 8

 9 Plus: Income receipts from the rest of the world ND ND ND ND ND ND ND ND ND ND 9

10 Less: Income payments from the rest of the world ND ND ND ND ND ND ND ND ND ND 10

11 Equals: Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 11

12 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 12

13 Compensation of employees (received) ND ND ND ND ND ND ND ND ND ND 13

14 Wages and salaries ND ND ND ND ND ND ND ND ND ND 14

15 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 15

16 Taxes on production and imports, receivable ND ND ND ND ND ND ND ND ND ND 16

17 Subsidies paid ND ND ND ND ND ND ND ND ND ND 17

18 Property income (received) ND ND ND ND ND ND ND ND ND ND 18

19 Interest ND ND ND ND ND ND ND ND ND ND 19

20 Distributed income of corporations ND ND ND ND ND ND ND ND ND ND 20

21 Dividends ND ND ND ND ND ND ND ND ND ND 21

22 Withdrawals from income of quasi-corporations ND ND ND ND ND ND ND ND ND ND 22

23 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 23

24 Rents on land and natural resources ND ND ND ND ND ND ND ND ND ND 24

25 Less: Uses of property income (paid) ND ND ND ND ND ND ND ND ND ND 25

26 Interest ND ND ND ND ND ND ND ND ND ND 26

27 Distributed income of corporations ND ND ND ND ND ND ND ND ND ND 27

28 Dividends ND ND ND ND ND ND ND ND ND ND 28

29 Withdrawals from income of quasi-corporations ND ND ND ND ND ND ND ND ND ND 29

30 Reinvested earnings on foreign direct investment ND ND ND ND ND ND ND ND ND ND 30

31 Rents on land and natural resources ND ND ND ND ND ND ND ND ND ND 31

32 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 32

33 Plus: Current taxes on income, wealth, etc. (received) ND ND ND ND ND ND ND ND ND ND 33

34 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND ND ND ND ND 34

35 Plus: Social benefits (received) ND ND ND ND ND ND ND ND ND ND 35

36 Less: Social contributions (paid) ND ND ND ND ND ND ND ND ND ND 36

37 Plus: Other current transfers (received) ND ND ND ND ND ND ND ND ND ND 37

38 Less: Other current transfers (paid) ND ND ND ND ND ND ND ND ND ND 38

39 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 39

40 Less: Final consumption expenditures ND ND ND ND ND ND ND ND ND ND 40

41 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 41

 Addendum:

42 Gross value added (line 1) ND ND ND ND ND ND ND ND ND ND 42

43 Plus statistical discrepancy (NIPA) ND ND ND ND ND ND ND ND ND ND 43

44 Equals: GDP (NIPA, expenditure approach) ND ND ND ND ND ND ND ND ND ND 44
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116 Historical Annuals, 1945-1954, June 6, 2013

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

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Households and nonprofit institutions serving households ND ND ND ND ND ND ND ND ND ND 2

 3 Nonfinancial noncorporate business ND ND ND ND ND ND ND ND ND ND 3

 4 Nonfinancial corporate business ND ND ND ND ND ND ND ND ND ND 4

 5 Financial business ND ND ND ND ND ND ND ND ND ND 5

 6 Federal government ND ND ND ND ND ND ND ND ND ND 6

 7 State and local government ND ND ND ND ND ND ND ND ND ND 7

 8 Net saving ND ND ND ND ND ND ND ND ND ND 8

 9 Households and nonprofit institutions serving households ND ND ND ND ND ND ND ND ND ND 9

10 Nonfinancial corporate business ND ND ND ND ND ND ND ND ND ND 10

11 Financial business ND ND ND ND ND ND ND ND ND ND 11

12 Federal government ND ND ND ND ND ND ND ND ND ND 12

13 State and local government ND ND ND ND ND ND ND ND ND ND 13

 Net capital transfers

14 Households and nonprofit institutions serving households ND ND ND ND ND ND ND ND ND ND 14

15 Nonfinancial noncorporate business ND ND ND ND ND ND ND ND ND ND 15

16 Nonfinancial corporate business ND ND ND ND ND ND ND ND ND ND 16

17 Financial business ND ND ND ND ND ND ND ND ND ND 17

18 Federal government ND ND ND ND ND ND ND ND ND ND 18

19 State and local government ND ND ND ND ND ND ND ND ND ND 19

20 Rest of the world ND ND ND ND ND ND ND ND ND ND 20

21 Gross fixed capital formation ND ND ND ND ND ND ND ND ND ND 21

22 Households and nonprofit institutions serving households ND ND ND ND ND ND ND ND ND ND 22

23 Nonfinancial noncorporate business ND ND ND ND ND ND ND ND ND ND 23

24 Nonfinancial corporate business ND ND ND ND ND ND ND ND ND ND 24

25 Financial business (nonresidential) ND ND ND ND ND ND ND ND ND ND 25

26 Federal government ND ND ND ND ND ND ND ND ND ND 26

27 State and local government ND ND ND ND ND ND ND ND ND ND 27

28 Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 28

29 Households and nonprofit institutions serving households ND ND ND ND ND ND ND ND ND ND 29

30 Nonfinancial noncorporate business ND ND ND ND ND ND ND ND ND ND 30

31 Nonfinancial corporate business ND ND ND ND ND ND ND ND ND ND 31

32 Financial business (nonresidential) ND ND ND ND ND ND ND ND ND ND 32

33 Federal government ND ND ND ND ND ND ND ND ND ND 33

34 State and local government ND ND ND ND ND ND ND ND ND ND 34

35 Change in inventories ND ND ND ND ND ND ND ND ND ND 35

36 Nonfinancial noncorporate business ND ND ND ND ND ND ND ND ND ND 36

37 Nonfinancial corporate business ND ND ND ND ND ND ND ND ND ND 37

38 Net lending (+) or net borrowing (-) (capital account) ND ND ND ND ND ND ND ND ND ND 38

39 Households and nonprofit institutions serving households ND ND ND ND ND ND ND ND ND ND 39

40 Nonfinancial noncorporate business ND ND ND ND ND ND ND ND ND ND 40

41 Nonfinancial corporate business ND ND ND ND ND ND ND ND ND ND 41

42 Financial business ND ND ND ND ND ND ND ND ND ND 42

43 Federal government ND ND ND ND ND ND ND ND ND ND 43

44 State and local government ND ND ND ND ND ND ND ND ND ND 44

 Addendum:

45 Statistical discrepancy (NIPA) ND ND ND ND ND ND ND ND ND ND 45

46 Rest of the world ND ND ND ND ND ND ND ND ND ND 46

47 Net lending (+) or net borrowing (-) (financial account) ND ND ND ND ND ND ND ND ND ND 47

48 Households and nonprofit institutions serving households ND ND ND ND ND ND ND ND ND ND 48

49 Nonfinancial noncorporate business ND ND ND ND ND ND ND ND ND ND 49

50 Nonfinancial corporate business ND ND ND ND ND ND ND ND ND ND 50

51 Financial business ND ND ND ND ND ND ND ND ND ND 51

52 Federal government ND ND ND ND ND ND ND ND ND ND 52

53 State and local government ND ND ND ND ND ND ND ND ND ND 53

 Addendum:

54 Rest of the world ND ND ND ND ND ND ND ND ND ND 54

 Total other volume changes

55 Households and nonprofit institutions serving households ND ND ND ND ND ND ND ND ND ND 55

56 Nonfinancial noncorporate business ND ND ND ND ND ND ND ND ND ND 56

57 Nonfinancial corporate business ND ND ND ND ND ND ND ND ND ND 57

58 Financial business ND ND ND ND ND ND ND ND ND ND 58

59 Federal government ND ND ND ND ND ND ND ND ND ND 59

60 State and local government ND ND ND ND ND ND ND ND ND ND 60

61 Rest of the world ND ND ND ND ND ND ND ND ND ND 61

 Holding gains/losses

62 Households and nonprofit institutions serving households ND ND ND ND ND ND ND ND ND ND 62

63 Nonfinancial noncorporate business ND ND ND ND ND ND ND ND ND ND 63

64 Nonfinancial corporate business ND ND ND ND ND ND ND ND ND ND 64

65 Financial business ND ND ND ND ND ND ND ND ND ND 65

66 Federal government ND ND ND ND ND ND ND ND ND ND 66

67 State and local government ND ND ND ND ND ND ND ND ND ND 67

68 Rest of the world ND ND ND ND ND ND ND ND ND ND 68
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Historical Annuals, 1945-1954, June 6, 2013 117

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

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Change in net worth

69 Households and nonprofit institutions serving households ND ND ND ND ND ND ND ND ND ND 69

70 Nonfinancial noncorporate business ND ND ND ND ND ND ND ND ND ND 70

71 Nonfinancial corporate business ND ND ND ND ND ND ND ND ND ND 71

72 Financial business ND ND ND ND ND ND ND ND ND ND 72

73 Federal government ND ND ND ND ND ND ND ND ND ND 73

74 State and local government ND ND ND ND ND ND ND ND ND ND 74

75 Rest of the world ND ND ND ND ND ND ND ND ND ND 75
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118 Historical Annuals, 1945-1954, June 6, 2013

S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Current account

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation paid by households and NPISHs ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND ND ND ND ND 7

 8 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 9

10 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 10

11 Compensation of employees (received) ND ND ND ND ND ND ND ND ND ND 11

12 Wages and salaries ND ND ND ND ND ND ND ND ND ND 12

13 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 13

14 Property income (received) ND ND ND ND ND ND ND ND ND ND 14

15 Interest ND ND ND ND ND ND ND ND ND ND 15

16 Distributed income of corporations ND ND ND ND ND ND ND ND ND ND 16

17 Dividends ND ND ND ND ND ND ND ND ND ND 17

18 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND ND ND ND ND 18

19 Less: Uses of property income (interest paid) ND ND ND ND ND ND ND ND ND ND 19

20 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 20

21 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND ND ND ND ND 21

22 Plus: Social benefits (received) ND ND ND ND ND ND ND ND ND ND 22

23 Less: Social contributions (paid) ND ND ND ND ND ND ND ND ND ND 23

24 Plus: Other current transfers (received) ND ND ND ND ND ND ND ND ND ND 24

25 Less: Other current transfers (paid) ND ND ND ND ND ND ND ND ND ND 25

26 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 26

27 Less: Final consumption expenditures ND ND ND ND ND ND ND ND ND ND 27

28 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 28

 Capital account

29 Net saving less capital transfers ND ND ND ND ND ND ND ND ND ND 29

30 Net saving ND ND ND ND ND ND ND ND ND ND 30

31 Less: Capital transfers paid (net) ND ND ND ND ND ND ND ND ND ND 31

32 Capital formation, net ND ND ND ND ND ND ND ND ND ND 32

33 Gross fixed capital formation, excluding consumer durables ND ND ND ND ND ND ND ND ND ND 33

34 Residential ND ND ND ND ND ND ND ND ND ND 34

35 Nonresidential (nonprofit organizations) ND ND ND ND ND ND ND ND ND ND 35

36 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 36

37 Acquisition of nonproduced nonfinancial assets ND ND ND ND ND ND ND ND ND ND 37

38 Net lending (+) or borrowing (-), capital account (lines 29-32) ND ND ND ND ND ND ND ND ND ND 38

 Financial account

39 Net lending (+) or borrowing (-), capital account (line 38) ND ND ND ND ND ND ND ND ND ND 39

40 Net acquisition of financial assets ND ND ND ND ND ND ND ND ND ND 40

41 Currency and deposits ND ND ND ND ND ND ND ND ND ND 41

42 Currency and transferable deposits ND ND ND ND ND ND ND ND ND ND 42

43 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 43

44 Foreign deposits ND ND ND ND ND ND ND ND ND ND 44

45 Postal savings system deposits ND ND ND ND ND ND ND ND ND ND 45

46 Debt securities ND ND ND ND ND ND ND ND ND ND 46

47 Open market paper ND ND ND ND ND ND ND ND ND ND 47

48 U.S. savings bonds ND ND ND ND ND ND ND ND ND ND 48

49 Treasury securities ND ND ND ND ND ND ND ND ND ND 49

50 Agency- and GSE-backed securities (2) ND ND ND ND ND ND ND ND ND ND 50

51 Municipal securities ND ND ND ND ND ND ND ND ND ND 51

52 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 52

53 Loans ND ND ND ND ND ND ND ND ND ND 53

54 Short term ND ND ND ND ND ND ND ND ND ND 54

55 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 55
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S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

56 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 56

57 Corporate equities ND ND ND ND ND ND ND ND ND ND 57

58 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 58

59 Money market fund shares ND ND ND ND ND ND ND ND ND ND 59

60 Equity in noncorporate business ND ND ND ND ND ND ND ND ND ND 60

61 Equity investment under Public-Private Inv. Program (3) ND ND ND ND ND ND ND ND ND ND 61

62 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 62

63 Net equity in life insurance and pension funds ND ND ND ND ND ND ND ND ND ND 63

64 Net equity in life insurance reserves ND ND ND ND ND ND ND ND ND ND 64

65 Net equity in pension fund reserves ND ND ND ND ND ND ND ND ND ND 65

66 Prepayments of premiums and reserves against claims ND ND ND ND ND ND ND ND ND ND 66

67 Net equity in reserves of property-casualty insurance companies ND ND ND ND ND ND ND ND ND ND 67

68 Net equity in other life insurance company reserves ND ND ND ND ND ND ND ND ND ND 68

69 Net equity in Retiree Health Care Funds ND ND ND ND ND ND ND ND ND ND 69

70 Net incurrence of liabilities ND ND ND ND ND ND ND ND ND ND 70

71 Debt securities (municipals) ND ND ND ND ND ND ND ND ND ND 71

72 Loans ND ND ND ND ND ND ND ND ND ND 72

73 Short term ND ND ND ND ND ND ND ND ND ND 73

74 Consumer credit ND ND ND ND ND ND ND ND ND ND 74

75 Depository institution loans n.e.c. ND ND ND ND ND ND ND ND ND ND 75

76 Other loans and advances ND ND ND ND ND ND ND ND ND ND 76

77 Security credit ND ND ND ND ND ND ND ND ND ND 77

78 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 78

79 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 79

80 Other accounts payable (trade debt) ND ND ND ND ND ND ND ND ND ND 80

 Addendum:

81 Net lending (+) or borrowing (-), financial account (lines 40-70) ND ND ND ND ND ND ND ND ND ND 81

 Other changes in volume account

82 Total other volume changes ND ND ND ND ND ND ND ND ND ND 82

83 Net investment in consumer durable goods ND ND ND ND ND ND ND ND ND ND 83

84 Disaster losses ND ND ND ND ND ND ND ND ND ND 84

85 Other volume changes ND ND ND ND ND ND ND ND ND ND 85

86 Less: Statistical discrepancy (lines 38-[40-70]) (4)) ND ND ND ND ND ND ND ND ND ND 86

 Revaluation account

87 Nonfinancial assets ND ND ND ND ND ND ND ND ND ND 87

88 Real estate ND ND ND ND ND ND ND ND ND ND 88

89 Consumer durable goods ND ND ND ND ND ND ND ND ND ND 89

90 Equipment and software ND ND ND ND ND ND ND ND ND ND 90

91 Financial assets ND ND ND ND ND ND ND ND ND ND 91

92 Corporate equities ND ND ND ND ND ND ND ND ND ND 92

93 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 93

94 Equity in noncorporate business ND ND ND ND ND ND ND ND ND ND 94

95 Equity investment under Public-Private Inv. Program ND ND ND ND ND ND ND ND ND ND 95

96 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 96

97 Changes in net worth due to nominal holding gains/losses ND ND ND ND ND ND ND ND ND ND 97

 Changes in balance sheet account

98 Change in net worth (lines 32+38+82+97) ND ND ND ND ND ND ND ND ND ND 98

 Balance sheet account (end of period)

99 Total assets ND ND ND ND ND ND ND ND ND ND 99

100 Nonfinancial assets ND ND ND ND ND ND ND ND ND ND 100

101 Real estate ND ND ND ND ND ND ND ND ND ND 101

102 Consumer durable goods ND ND ND ND ND ND ND ND ND ND 102

103 Equipment and software ND ND ND ND ND ND ND ND ND ND 103
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120 Historical Annuals, 1945-1954, June 6, 2013

S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

104 Financial assets ND ND ND ND ND ND ND ND ND ND 104

105 Currency and deposits ND ND ND ND ND ND ND ND ND ND 105

106 Currency and transferable deposits ND ND ND ND ND ND ND ND ND ND 106

107 Foreign deposits ND ND ND ND ND ND ND ND ND ND 107

108 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 108

109 Postal savings system deposits ND ND ND ND ND ND ND ND ND ND 109

110 Debt securities ND ND ND ND ND ND ND ND ND ND 110

111 Open market paper ND ND ND ND ND ND ND ND ND ND 111

112 U.S. savings bonds ND ND ND ND ND ND ND ND ND ND 112

113 Treasury securities ND ND ND ND ND ND ND ND ND ND 113

114 Agency- and GSE-backed securities (2) ND ND ND ND ND ND ND ND ND ND 114

115 Municipal securities ND ND ND ND ND ND ND ND ND ND 115

116 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 116

117 Loans ND ND ND ND ND ND ND ND ND ND 117

118 Short term ND ND ND ND ND ND ND ND ND ND 118

119 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 119

120 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 120

121 Corporate equities ND ND ND ND ND ND ND ND ND ND 121

122 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 122

123 Money market fund shares ND ND ND ND ND ND ND ND ND ND 123

124 Equity in noncorporate business ND ND ND ND ND ND ND ND ND ND 124

125 Equity investment under Public-Private Inv. Program (3) ND ND ND ND ND ND ND ND ND ND 125

126 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 126

127 Net equity in life insurance and pension funds ND ND ND ND ND ND ND ND ND ND 127

128 Net equity in life insurance reserves ND ND ND ND ND ND ND ND ND ND 128

129 Net equity in pension fund reserves ND ND ND ND ND ND ND ND ND ND 129

130 Prepayments of premiums and reserves against claims ND ND ND ND ND ND ND ND ND ND 130

131 Net equity in reserves of property-casualty insurance companies ND ND ND ND ND ND ND ND ND ND 131

132 Net equity in other life insurance company reserves ND ND ND ND ND ND ND ND ND ND 132

133 Net equity in Retiree Health Care Funds ND ND ND ND ND ND ND ND ND ND 133

134 Total liabilities and net worth ND ND ND ND ND ND ND ND ND ND 134

135 Liabilities ND ND ND ND ND ND ND ND ND ND 135

136 Debt securities (municipals) ND ND ND ND ND ND ND ND ND ND 136

137 Loans ND ND ND ND ND ND ND ND ND ND 137

138 Short term ND ND ND ND ND ND ND ND ND ND 138

139 Consumer credit ND ND ND ND ND ND ND ND ND ND 139

140 Depository institution loans n.e.c. ND ND ND ND ND ND ND ND ND ND 140

141 Other loans and advances ND ND ND ND ND ND ND ND ND ND 141

142 Security credit ND ND ND ND ND ND ND ND ND ND 142

143 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 143

144 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 144

145 Other accounts payable (trade debt) ND ND ND ND ND ND ND ND ND ND 145

146 Net worth ND ND ND ND ND ND ND ND ND ND 146

(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) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

NPISHs Nonprofit institutions serving households

n.e.c. Not elsewhere classified
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Historical Annuals, 1945-1954, June 6, 2013 121

S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Current account

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation of employees (paid) ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND ND ND ND ND 7

 8 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 9

10 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 10

11 Property income (interest received) ND ND ND ND ND ND ND ND ND ND 11

12 Less: Uses of property income (paid) ND ND ND ND ND ND ND ND ND ND 12

13 Interest ND ND ND ND ND ND ND ND ND ND 13

14 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND ND ND ND ND 14

15 Reinvested earnings on foreign direct investment ND ND ND ND ND ND ND ND ND ND 15

16 Rents on land and natural resources ND ND ND ND ND ND ND ND ND ND 16

17 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 17

18 Less: Other current transfers (paid) ND ND ND ND ND ND ND ND ND ND 18

19 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 19

20 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 20

 Capital account

21 Net saving less capital transfers ND ND ND ND ND ND ND ND ND ND 21

22 Net saving ND ND ND ND ND ND ND ND ND ND 22

23 Less: Capital transfers paid (net) ND ND ND ND ND ND ND ND ND ND 23

24 Capital formation, net ND ND ND ND ND ND ND ND ND ND 24

25 Gross fixed capital formation ND ND ND ND ND ND ND ND ND ND 25

26 Nonresidential ND ND ND ND ND ND ND ND ND ND 26

27 Residential ND ND ND ND ND ND ND ND ND ND 27

28 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 28

29 Change in private inventories ND ND ND ND ND ND ND ND ND ND 29

30 Net lending (+) or borrowing (-), capital account (lines 21-24) ND ND ND ND ND ND ND ND ND ND 30

 Financial account

31 Net lending (+) or borrowing (-) (line 30) ND ND ND ND ND ND ND ND ND ND 31

32 Net acquisition of financial assets ND ND ND ND ND ND ND ND ND ND 32

33 Currency and deposits ND ND ND ND ND ND ND ND ND ND 33

34 Currency and transferable deposits ND ND ND ND ND ND ND ND ND ND 34

35 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 35

36 Debt securities ND ND ND ND ND ND ND ND ND ND 36

37 Treasury securities ND ND ND ND ND ND ND ND ND ND 37

38 Municipal securities ND ND ND ND ND ND ND ND ND ND 38

39 Loans ND ND ND ND ND ND ND ND ND ND 39

40 Short term (consumer credit) ND ND ND ND ND ND ND ND ND ND 40

41 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 41

42 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 42

43 Money market mutual fund shares ND ND ND ND ND ND ND ND ND ND 43

44 Equity in government-sponsored enterprises (2) ND ND ND ND ND ND ND ND ND ND 44

45 Insurance, pension and standardized guarantee schemes (3) ND ND ND ND ND ND ND ND ND ND 45

46 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 46

47 Trade receivables ND ND ND ND ND ND ND ND ND ND 47

48 Other (miscellaneous assets) ND ND ND ND ND ND ND ND ND ND 48

49 Net incurrence of liabilities ND ND ND ND ND ND ND ND ND ND 49

50 Loans ND ND ND ND ND ND ND ND ND ND 50

51 Short term ND ND ND ND ND ND ND ND ND ND 51

52 Depository institution loans n.e.c. ND ND ND ND ND ND ND ND ND ND 52

53 Other loans and advances ND ND ND ND ND ND ND ND ND ND 53

54 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 54
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122 Historical Annuals, 1945-1954, June 6, 2013

S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

55 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 55

56 Equity in noncorporate business ND ND ND ND ND ND ND ND ND ND 56

57 Foreign direct investment in the United States ND ND ND ND ND ND ND ND ND ND 57

58 Other accounts payable ND ND ND ND ND ND ND ND ND ND 58

59 Trade payables ND ND ND ND ND ND ND ND ND ND 59

60 Taxes payable ND ND ND ND ND ND ND ND ND ND 60

61 Other (miscellaneous liabilities) ND ND ND ND ND ND ND ND ND ND 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 32-49) ND ND ND ND ND ND ND ND ND ND 62

 Other changes in volume account

63 Total other volume changes ND ND ND ND ND ND ND ND ND ND 63

64 Disaster losses ND ND ND ND ND ND ND ND ND ND 64

65 Other volume changes ND ND ND ND ND ND ND ND ND ND 65

 Revaluation account

66 Nonfinancial assets ND ND ND ND ND ND ND ND ND ND 66

67 Real estate ND ND ND ND ND ND ND ND ND ND 67

68 Residential ND ND ND ND ND ND ND ND ND ND 68

69 Nonresidential ND ND ND ND ND ND ND ND ND ND 69

70 Equipment and software ND ND ND ND ND ND ND ND ND ND 70

71 Residential ND ND ND ND ND ND ND ND ND ND 71

72 Nonresidential ND ND ND ND ND ND ND ND ND ND 72

73 Inventories ND ND ND ND ND ND ND ND ND ND 73

74 Changes in net worth due to nominal holding gains/losses ND ND ND ND ND ND ND ND ND ND 74

 Changes in balance sheet account

75 Change in net worth (lines 24+30+63+74) ND ND ND ND ND ND ND ND ND ND 75

 Balance sheet account (end of period)

76 Total assets ND ND ND ND ND ND ND ND ND ND 76

77 Nonfinancial assets ND ND ND ND ND ND ND ND ND ND 77

78 Real estate ND ND ND ND ND ND ND ND ND ND 78

79 Residential (4) ND ND ND ND ND ND ND ND ND ND 79

80 Nonresidential ND ND ND ND ND ND ND ND ND ND 80

81 Equipment and software ND ND ND ND ND ND ND ND ND ND 81

82 Residential ND ND ND ND ND ND ND ND ND ND 82

83 Nonresidential ND ND ND ND ND ND ND ND ND ND 83

84 Inventories ND ND ND ND ND ND ND ND ND ND 84

85 Financial assets ND ND ND ND ND ND ND ND ND ND 85

86 Currency and deposits ND ND ND ND ND ND ND ND ND ND 86

87 Currency and transferable deposits ND ND ND ND ND ND ND ND ND ND 87

88 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 88

89 Debt securities ND ND ND ND ND ND ND ND ND ND 89

90 Treasury securities ND ND ND ND ND ND ND ND ND ND 90

91 Municipal securities ND ND ND ND ND ND ND ND ND ND 91

92 Loans ND ND ND ND ND ND ND ND ND ND 92

93 Short term (consumer credit) ND ND ND ND ND ND ND ND ND ND 93

94 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 94

95 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 95

96 Money market mutual fund shares ND ND ND ND ND ND ND ND ND ND 96

97 Equity in government-sponsored enterprises (2) ND ND ND ND ND ND ND ND ND ND 97

98 Insurance, pension and standardized guarantee schemes (3) ND ND ND ND ND ND ND ND ND ND 98

99 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 99

100 Trade receivables ND ND ND ND ND ND ND ND ND ND 100

101 Other (miscellaneous assets) ND ND ND ND ND ND ND ND ND ND 101
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Historical Annuals, 1945-1954, June 6, 2013 123

S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

102 Total liabilities and net worth ND ND ND ND ND ND ND ND ND ND 102

103 Liabilities ND ND ND ND ND ND ND ND ND ND 103

104 Loans ND ND ND ND ND ND ND ND ND ND 104

105 Short term ND ND ND ND ND ND ND ND ND ND 105

106 Depository institution loans n.e.c. ND ND ND ND ND ND ND ND ND ND 106

107 Other loans and advances ND ND ND ND ND ND ND ND ND ND 107

108 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 108

109 Equity and investment fund shares (direct investment in the U.S.) ND ND ND ND ND ND ND ND ND ND 109

110 Other accounts payable ND ND ND ND ND ND ND ND ND ND 110

111 Trade payables ND ND ND ND ND ND ND ND ND ND 111

112 Taxes payable ND ND ND ND ND ND ND ND ND ND 112

113 Other (miscellaneous liabilities) ND ND ND ND ND ND ND ND ND ND 113

114 Net worth ND ND ND ND ND ND ND ND ND ND 114

Notes. Nonfinancial noncorporate business includes noncorporate farms that are excluded from the nonfinancial noncorporate business sector in the Flow of Funds Accounts.

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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124 Historical Annuals, 1945-1954, June 6, 2013

S.5.a Nonfinancial Corporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Current account

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation of employees (paid) ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND ND ND ND ND 7

 8 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 9

10 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 10

11 Property income (received) ND ND ND ND ND ND ND ND ND ND 11

12 Interest ND ND ND ND ND ND ND ND ND ND 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND ND ND ND ND 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND ND ND ND ND 15

16 Interest ND ND ND ND ND ND ND ND ND ND 16

17 Distributed income of corporations (dividends) ND ND ND ND ND ND ND ND ND ND 17

18 Reinvested earnings on foreign direct investment ND ND ND ND ND ND ND ND ND ND 18

19 Rent ND ND ND ND ND ND ND ND ND ND 19

20 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 20

21 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND ND ND ND ND 21

22 Less: Other current transfers (paid) ND ND ND ND ND ND ND ND ND ND 22

23 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 23

24 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 24

 Capital account

25 Net saving less capital transfers ND ND ND ND ND ND ND ND ND ND 25

26 Net saving ND ND ND ND ND ND ND ND ND ND 26

27 Less: Capital transfers paid (net) ND ND ND ND ND ND ND ND ND ND 27

28 Capital formation, net ND ND ND ND ND ND ND ND ND ND 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) ND ND ND ND ND ND ND ND ND ND 29

30 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 30

31 Acquisition of nonproduced nonfinancial assets ND ND ND ND ND ND ND ND ND ND 31

32 Change in private inventories ND ND ND ND ND ND ND ND ND ND 32

33 Net lending (+) or borrowing (-), capital account (lines 25-28) ND ND ND ND ND ND ND ND ND ND 33

 Financial account

34 Net lending (+) or borrowing (-), capital account (line 33) ND ND ND ND ND ND ND ND ND ND 34

35 Net acquisition of financial assets ND ND ND ND ND ND ND ND ND ND 35

36 Currency and deposits ND ND ND ND ND ND ND ND ND ND 36

37 Currency and transferable deposits ND ND ND ND ND ND ND ND ND ND 37

38 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 38

39 Foreign deposits ND ND ND ND ND ND ND ND ND ND 39

40 Debt securities ND ND ND ND ND ND ND ND ND ND 40

41 Open market paper ND ND ND ND ND ND ND ND ND ND 41

42 Treasury securities ND ND ND ND ND ND ND ND ND ND 42

43 Agency- and GSE-backed securities (1) ND ND ND ND ND ND ND ND ND ND 43

44 Municipal securities ND ND ND ND ND ND ND ND ND ND 44

45 Loans ND ND ND ND ND ND ND ND ND ND 45

46 Short term (security RPs and consumer credit) ND ND ND ND ND ND ND ND ND ND 46

47 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 47

48 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 48

49 Money market fund shares ND ND ND ND ND ND ND ND ND ND 49

50 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 50

51 U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 51

52 Equity in government-sponsored enterprises (1) ND ND ND ND ND ND ND ND ND ND 52

53 Investment in finance company subsidiaries ND ND ND ND ND ND ND ND ND ND 53
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Historical Annuals, 1945-1954, June 6, 2013 125

S.5.a Nonfinancial Corporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

54 Insurance, pension and standardized guarantee schemes (2) ND ND ND ND ND ND ND ND ND ND 54

55 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 55

56 Trade receivables ND ND ND ND ND ND ND ND ND ND 56

57 Other (miscellaneous assets) ND ND ND ND ND ND ND ND ND ND 57

58 Net incurrence of liabilities ND ND ND ND ND ND ND ND ND ND 58

59 Debt securities ND ND ND ND ND ND ND ND ND ND 59

60 Open market paper ND ND ND ND ND ND ND ND ND ND 60

61 Municipal securities ND ND ND ND ND ND ND ND ND ND 61

62 Corporate bonds ND ND ND ND ND ND ND ND ND ND 62

63 Loans ND ND ND ND ND ND ND ND ND ND 63

64 Short term ND ND ND ND ND ND ND ND ND ND 64

65 Depository institution loans n.e.c. ND ND ND ND ND ND ND ND ND ND 65

66 Other loans and advances ND ND ND ND ND ND ND ND ND ND 66

67 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 67

68 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 68

69 Corporate equities ND ND ND ND ND ND ND ND ND ND 69

70 Foreign direct investment in the United States ND ND ND ND ND ND ND ND ND ND 70

71 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 71

72 Other accounts payable ND ND ND ND ND ND ND ND ND ND 72

73 Trade payables ND ND ND ND ND ND ND ND ND ND 73

74 Taxes payable ND ND ND ND ND ND ND ND ND ND 74

75 Miscellaneous liabilities ND ND ND ND ND ND ND ND ND ND 75

 Addendum:

76 Net lending (+) or borrowing (-), financial account (lines 35-58) ND ND ND ND ND ND ND ND ND ND 76

 Other changes in volume account

77 Total other volume changes ND ND ND ND ND ND ND ND ND ND 77

78 Disaster losses ND ND ND ND ND ND ND ND ND ND 78

79 Other volume changes ND ND ND ND ND ND ND ND ND ND 79

80 Less: Statistical discrepancy (lines 33-[35-58]) (3) ND ND ND ND ND ND ND ND ND ND 80

81 Less: Inventory valuation adjustment ND ND ND ND ND ND ND ND ND ND 81

 Revaluation account

82 Nonfinancial assets ND ND ND ND ND ND ND ND ND ND 82

83 Real estate ND ND ND ND ND ND ND ND ND ND 83

84 Equipment and software ND ND ND ND ND ND ND ND ND ND 84

85 Inventories ND ND ND ND ND ND ND ND ND ND 85

86 Financial assets ND ND ND ND ND ND ND ND ND ND 86

87 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 87

88 Direct investment abroad ND ND ND ND ND ND ND ND ND ND 88

89 Liabilities ND ND ND ND ND ND ND ND ND ND 89

90 Corporate equity ND ND ND ND ND ND ND ND ND ND 90

91 Foreign direct investment in the United States ND ND ND ND ND ND ND ND ND ND 91

92 Changes in net worth due to nominal holding gains/losses ND ND ND ND ND ND ND ND ND ND 92

 Changes in balance sheet account

93 Change in net worth (lines 28+33+77+92) (4) ND ND ND ND ND ND ND ND ND ND 93

 Balance sheet account (end of period)

94 Total assets ND ND ND ND ND ND ND ND ND ND 94

95 Nonfinancial assets (5) ND ND ND ND ND ND ND ND ND ND 95

96 Real estate ND ND ND ND ND ND ND ND ND ND 96

97 Equipment and software ND ND ND ND ND ND ND ND ND ND 97

98 Inventories ND ND ND ND ND ND ND ND ND ND 98

99 Financial assets ND ND ND ND ND ND ND ND ND ND 99

100 Currency and deposits ND ND ND ND ND ND ND ND ND ND 100

101 Currency and transferable deposits ND ND ND ND ND ND ND ND ND ND 101

102 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 102

103 Foreign deposits ND ND ND ND ND ND ND ND ND ND 103
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126 Historical Annuals, 1945-1954, June 6, 2013

S.5.a Nonfinancial Corporate Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

104 Debt securities ND ND ND ND ND ND ND ND ND ND 104

105 Open market paper ND ND ND ND ND ND ND ND ND ND 105

106 Treasury securities ND ND ND ND ND ND ND ND ND ND 106

107 Agency- and GSE-backed securities (1) ND ND ND ND ND ND ND ND ND ND 107

108 Municipal securities ND ND ND ND ND ND ND ND ND ND 108

109 Loans ND ND ND ND ND ND ND ND ND ND 109

110 Short term ND ND ND ND ND ND ND ND ND ND 110

111 Security repurchases ND ND ND ND ND ND ND ND ND ND 111

112 Consumer credit ND ND ND ND ND ND ND ND ND ND 112

113 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 113

114 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 114

115 Money market fund shares ND ND ND ND ND ND ND ND ND ND 115

116 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 116

117 U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 117

118 Equity in government-sponsored enterprises (1) ND ND ND ND ND ND ND ND ND ND 118

119 Investment in finance company subsidiaries ND ND ND ND ND ND ND ND ND ND 119

120 Insurance, pension and standardized guarantee schemes (2) ND ND ND ND ND ND ND ND ND ND 120

121 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 121

122 Trade receivables ND ND ND ND ND ND ND ND ND ND 122

123 Other (miscellaneous assets) ND ND ND ND ND ND ND ND ND ND 123

124 Total liabilities and net worth ND ND ND ND ND ND ND ND ND ND 124

125 Liabilities ND ND ND ND ND ND ND ND ND ND 125

126 Debt securities ND ND ND ND ND ND ND ND ND ND 126

127 Open market paper ND ND ND ND ND ND ND ND ND ND 127

128 Municipal securities ND ND ND ND ND ND ND ND ND ND 128

129 Corporate bonds ND ND ND ND ND ND ND ND ND ND 129

130 Loans ND ND ND ND ND ND ND ND ND ND 130

131 Short term ND ND ND ND ND ND ND ND ND ND 131

132 Depository institution loans n.e.c. ND ND ND ND ND ND ND ND ND ND 132

133 Other loans and advances ND ND ND ND ND ND ND ND ND ND 133

134 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 134

135 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 135

136 Corporate equity ND ND ND ND ND ND ND ND ND ND 136

137 Foreign direct investment in the United States ND ND ND ND ND ND ND ND ND ND 137

138 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 138

139 Other accounts payable ND ND ND ND ND ND ND ND ND ND 139

140 Trade payables ND ND ND ND ND ND ND ND ND ND 140

141 Taxes payable ND ND ND ND ND ND ND ND ND ND 141

142 Miscellaneous liabilities ND ND ND ND ND ND ND ND ND ND 142

143 Net worth ND ND ND ND ND ND ND ND ND ND 143

Notes. Nonfinancial corporate business includes corporate farms that are excluded from the nonfinancial corporate business sector in the Flow of Funds Accounts.

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 Flow of Funds Accounts.

(5) Excludes nonproduced nonfinancial assets.

n.e.c. Not elsewhere classified
Inte

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Historical Annuals, 1945-1954, June 6, 2013 127

S.6.a Financial Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Current account

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation of employees (paid) ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND ND ND ND ND 7

 8 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 9

10 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 10

11 Property income (received) ND ND ND ND ND ND ND ND ND ND 11

12 Interest ND ND ND ND ND ND ND ND ND ND 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND ND ND ND ND 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND ND ND ND ND 15

16 Interest ND ND ND ND ND ND ND ND ND ND 16

17 Distributed income of corporations ND ND ND ND ND ND ND ND ND ND 17

18 Dividends ND ND ND ND ND ND ND ND ND ND 18

19 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND ND ND ND ND 19

20 Reinvested earnings on foreign direct investment ND ND ND ND ND ND ND ND ND ND 20

21 Rents on land and natural resources ND ND ND ND ND ND ND ND ND ND 21

22 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 22

23 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND ND ND ND ND 23

24 Less: Other current transfers (paid) ND ND ND ND ND ND ND ND ND ND 24

25 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 25

26 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND ND ND ND ND 27

28 Net saving ND ND ND ND ND ND ND ND ND ND 28

29 Less: Capital transfers paid (net) ND ND ND ND ND ND ND ND ND ND 29

30 Capital formation, net ND ND ND ND ND ND ND ND ND ND 30

31 Gross fixed capital formation (nonresidential) ND ND ND ND ND ND ND ND ND ND 31

32 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND ND ND ND ND 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) ND ND ND ND ND ND ND ND ND ND 34

35 Net acquisition of financial assets ND ND ND ND ND ND ND ND ND ND 35

36 Monetary gold ND ND ND ND ND ND ND ND ND ND 36

37 Currency and deposits ND ND ND ND ND ND ND ND ND ND 37

38 Debt securities ND ND ND ND ND ND ND ND ND ND 38

39 SDR certificates ND ND ND ND ND ND ND ND ND ND 39

40 Open market paper ND ND ND ND ND ND ND ND ND ND 40

41 Treasury securities ND ND ND ND ND ND ND ND ND ND 41

42 Agency- and GSE-backed securities (2) ND ND ND ND ND ND ND ND ND ND 42

43 Municipal securities ND ND ND ND ND ND ND ND ND ND 43

44 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 44

45 Nonmarketable government securities ND ND ND ND ND ND ND ND ND ND 45

46 Loans ND ND ND ND ND ND ND ND ND ND 46

47 Short term ND ND ND ND ND ND ND ND ND ND 47

48 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 48

49 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 49

50 Corporate equities ND ND ND ND ND ND ND ND ND ND 50

51 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 51

52 Money market mutual fund shares ND ND ND ND ND ND ND ND ND ND 52

53 Equity in government-sponsored enterprises (2) ND ND ND ND ND ND ND ND ND ND 53

54 U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 54

55 Stock in Federal Reserve Banks ND ND ND ND ND ND ND ND ND ND 55

56 Investment in subsidiaries ND ND ND ND ND ND ND ND ND ND 56
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128 Historical Annuals, 1945-1954, June 6, 2013

S.6.a Financial Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

57 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 57

58 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 58

59 Net incurrence of liabilities ND ND ND ND ND ND ND ND ND ND 59

60 Currency and deposits ND ND ND ND ND ND ND ND ND ND 60

61 Debt securities ND ND ND ND ND ND ND ND ND ND 61

62 Agency- and GSE-backed securities (2) ND ND ND ND ND ND ND ND ND ND 62

63 Corporate bonds ND ND ND ND ND ND ND ND ND ND 63

64 Commercial paper ND ND ND ND ND ND ND ND ND ND 64

65 Loans ND ND ND ND ND ND ND ND ND ND 65

66 Short term ND ND ND ND ND ND ND ND ND ND 66

67 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 67

68 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 68

69 Money market mutual fund shares ND ND ND ND ND ND ND ND ND ND 69

70 Corporate equity issues ND ND ND ND ND ND ND ND ND ND 70

71 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 71

72 Equity in government-sponsored enterprises (2) ND ND ND ND ND ND ND ND ND ND 72

73 Foreign direct investment in the United States ND ND ND ND ND ND ND ND ND ND 73

74 Equity in noncorporate business ND ND ND ND ND ND ND ND ND ND 74

75 Investment by parent ND ND ND ND ND ND ND ND ND ND 75

76 Stock in Federal Reserve Banks ND ND ND ND ND ND ND ND ND ND 76

77 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 77

78 Other accounts payable ND ND ND ND ND ND ND ND ND ND 78

 Addendum:

79 Net lending (+) or borrowing (-), financial account (lines 35-59) ND ND ND ND ND ND ND ND ND ND 79

 Other changes in volume account

80 Total other volume changes ND ND ND ND ND ND ND ND ND ND 80

81 Disaster losses ND ND ND ND ND ND ND ND ND ND 81

82 Other volume changes ND ND ND ND ND ND ND ND ND ND 82

83 Less: Statistical discrepancy (lines 33-[35-59]) (3) ND ND ND ND ND ND ND ND ND ND 83

 Revaluation account

84 Nonfinancial assets ND ND ND ND ND ND ND ND ND ND 84

85 Structures (nonresidential) ND ND ND ND ND ND ND ND ND ND 85

86 Equipment and software ND ND ND ND ND ND ND ND ND ND 86

87 Financial assets ND ND ND ND ND ND ND ND ND ND 87

88 Corporate equities ND ND ND ND ND ND ND ND ND ND 88

89 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 89

90 U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 90

91 Liabilities ND ND ND ND ND ND ND ND ND ND 91

92 Corporate equity issues ND ND ND ND ND ND ND ND ND ND 92

93 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 93

94 Foreign direct investment in the United States ND ND ND ND ND ND ND ND ND ND 94

95 Equity in noncorporate business ND ND ND ND ND ND ND ND ND ND 95

96 Pension fund reserves ND ND ND ND ND ND ND ND ND ND 96

97 Investment by parent ND ND ND ND ND ND ND ND ND ND 97

98 Changes in net worth due to nominal holding gains/losses ND ND ND ND ND ND ND ND ND ND 98

 Changes in balance sheet account

99 Change in net worth (lines 30+33+80+98) ND ND ND ND ND ND ND ND ND ND 99

 Balance sheet account (end of period)

100 Total assets ND ND ND ND ND ND ND ND ND ND 100

101 Nonfinancial assets (4) ND ND ND ND ND ND ND ND ND ND 101

102 Structures (nonresidential) ND ND ND ND ND ND ND ND ND ND 102

103 Equipment and software ND ND ND ND ND ND ND ND ND ND 103
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Historical Annuals, 1945-1954, June 6, 2013 129

S.6.a Financial Business

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

104 Financial assets ND ND ND ND ND ND ND ND ND ND 104

105 Monetary gold ND ND ND ND ND ND ND ND ND ND 105

106 Currency and deposits ND ND ND ND ND ND ND ND ND ND 106

107 Debt securities ND ND ND ND ND ND ND ND ND ND 107

108 SDR certificates ND ND ND ND ND ND ND ND ND ND 108

109 Open market paper ND ND ND ND ND ND ND ND ND ND 109

110 Treasury securities ND ND ND ND ND ND ND ND ND ND 110

111 Agency- and GSE-backed securities (2) ND ND ND ND ND ND ND ND ND ND 111

112 Municipal securities ND ND ND ND ND ND ND ND ND ND 112

113 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 113

114 Nonmarketable government securities ND ND ND ND ND ND ND ND ND ND 114

115 Loans ND ND ND ND ND ND ND ND ND ND 115

116 Short term ND ND ND ND ND ND ND ND ND ND 116

117 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 117

118 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 118

119 Corporate equities ND ND ND ND ND ND ND ND ND ND 119

120 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 120

121 Money market fund shares ND ND ND ND ND ND ND ND ND ND 121

122 Equity in government-sponsored enterprises (2) ND ND ND ND ND ND ND ND ND ND 122

123 U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 123

124 Stock in Federal Reserve Banks ND ND ND ND ND ND ND ND ND ND 124

125 Investment in subsidiaries ND ND ND ND ND ND ND ND ND ND 125

126 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 126

127 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 127

128 Total liabilities and net worth ND ND ND ND ND ND ND ND ND ND 128

129 Liabilities ND ND ND ND ND ND ND ND ND ND 129

130 Currency and deposits ND ND ND ND ND ND ND ND ND ND 130

131 Debt securities ND ND ND ND ND ND ND ND ND ND 131

132 Agency- and GSE-backed securities (2) ND ND ND ND ND ND ND ND ND ND 132

133 Corporate bonds ND ND ND ND ND ND ND ND ND ND 133

134 Commercial paper ND ND ND ND ND ND ND ND ND ND 134

135 Loans ND ND ND ND ND ND ND ND ND ND 135

136 Short term ND ND ND ND ND ND ND ND ND ND 136

137 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 137

138 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 138

139 Money market fund shares ND ND ND ND ND ND ND ND ND ND 139

140 Corporate equity issues ND ND ND ND ND ND ND ND ND ND 140

141 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 141

142 Equity in government-sponsored enterprises (2) ND ND ND ND ND ND ND ND ND ND 142

143 Foreign direct investment in the United States ND ND ND ND ND ND ND ND ND ND 143

144 Equity in noncorporate business ND ND ND ND ND ND ND ND ND ND 144

145 Investment by parent ND ND ND ND ND ND ND ND ND ND 145

146 Stock in Federal Reserve Banks ND ND ND ND ND ND ND ND ND ND 146

147 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 147

148 Other accounts payable ND ND ND ND ND ND ND ND ND ND 148

149 Net worth ND ND ND ND ND ND ND ND ND ND 149

Notes. Financial business includes depository institutions, insurance companies and pension funds, monetary authority, and other financial institutions.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.

SDRs Special Drawing Rights
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130 Historical Annuals, 1945-1954, June 6, 2013

S.7.a Federal Government

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Current account

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation of employees (paid) ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 7

 8 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 8

 9 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 9

10 Taxes on production and imports, receivable ND ND ND ND ND ND ND ND ND ND 10

11 Subsidies (paid) ND ND ND ND ND ND ND ND ND ND 11

12 Property income (received) ND ND ND ND ND ND ND ND ND ND 12

13 Interest ND ND ND ND ND ND ND ND ND ND 13

14 Distributed income of corporations (dividends) ND ND ND ND ND ND ND ND ND ND 14

15 Rents on land and natural resources ND ND ND ND ND ND ND ND ND ND 15

16 Less: Uses of property income (interest paid) ND ND ND ND ND ND ND ND ND ND 16

17 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 17

18 Plus: Current taxes on income, wealth, etc. (received) ND ND ND ND ND ND ND ND ND ND 18

19 Plus: Social benefits (received) ND ND ND ND ND ND ND ND ND ND 19

20 Less: Social contributions (paid) ND ND ND ND ND ND ND ND ND ND 20

21 Plus: Other current transfers (received) ND ND ND ND ND ND ND ND ND ND 21

22 Less: Other current transfers (paid) ND ND ND ND ND ND ND ND ND ND 22

23 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 23

24 Plus: Wage accruals less disbursements ND ND ND ND ND ND ND ND ND ND 24

25 Less: Final consumption expenditures ND ND ND ND ND ND ND ND ND ND 25

26 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND ND ND ND ND 27

28 Net saving ND ND ND ND ND ND ND ND ND ND 28

29 Less: Capital transfers paid (net) ND ND ND ND ND ND ND ND ND ND 29

30 Capital formation, net ND ND ND ND ND ND ND ND ND ND 30

 Gross fixed capital formation (acquisition of

31 produced nonfinancial assets) ND ND ND ND ND ND ND ND ND ND 31

32 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 32

33 Acquisition of nonproduced nonfinancial assets ND ND ND ND ND ND ND ND ND ND 33

34 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND ND ND ND ND 34

 Financial account

35 Net lending (+) or borrowing (-) (line 34) ND ND ND ND ND ND ND ND ND ND 35

36 Net acquisition of financial assets ND ND ND ND ND ND ND ND ND ND 36

37 Monetary gold and SDRs ND ND ND ND ND ND ND ND ND ND 37

38 Monetary gold ND ND ND ND ND ND ND ND ND ND 38

39 SDR holdings ND ND ND ND ND ND ND ND ND ND 39

40 Currency and deposits ND ND ND ND ND ND ND ND ND ND 40

41 Official foreign currencies ND ND ND ND ND ND ND ND ND ND 41

42 Reserve position in IMF (net) ND ND ND ND ND ND ND ND ND ND 42

43 Currency and transferable deposits ND ND ND ND ND ND ND ND ND ND 43

44 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 44

45 Nonofficial foreign currencies ND ND ND ND ND ND ND ND ND ND 45

46 Debt securities ND ND ND ND ND ND ND ND ND ND 46

47 Agency- and GSE-backed securities ND ND ND ND ND ND ND ND ND ND 47

48 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 48

49 Loans ND ND ND ND ND ND ND ND ND ND 49

50 Short term ND ND ND ND ND ND ND ND ND ND 50

51 Consumer credit ND ND ND ND ND ND ND ND ND ND 51

52 Other loans and advances ND ND ND ND ND ND ND ND ND ND 52

53 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 53
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Historical Annuals, 1945-1954, June 6, 2013 131

S.7.a Federal Government

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

54 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 54

55 Corporate equities ND ND ND ND ND ND ND ND ND ND 55

56 Equity in international organizations ND ND ND ND ND ND ND ND ND ND 56

57 Equity in government-sponsored enterprises (1) ND ND ND ND ND ND ND ND ND ND 57

58 Equity investment under Public-Private Inv. Program ND ND ND ND ND ND ND ND ND ND 58

59 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 59

60 Trade receivables ND ND ND ND ND ND ND ND ND ND 60

61 Taxes receivable ND ND ND ND ND ND ND ND ND ND 61

62 Other (miscellaneous assets) ND ND ND ND ND ND ND ND ND ND 62

63 Net incurrence of liabilities ND ND ND ND ND ND ND ND ND ND 63

64 SDR allocations ND ND ND ND ND ND ND ND ND ND 64

65 Currency and deposits ND ND ND ND ND ND ND ND ND ND 65

66 Debt securities ND ND ND ND ND ND ND ND ND ND 66

67 SDR certificates ND ND ND ND ND ND ND ND ND ND 67

68 Treasury securities including savings bonds ND ND ND ND ND ND ND ND ND ND 68

69 Federal agency securities ND ND ND ND ND ND ND ND ND ND 69

70 Nonmarketable securities held by pension plans ND ND ND ND ND ND ND ND ND ND 70

71 Loans (mortgages) ND ND ND ND ND ND ND ND ND ND 71

72 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 72

73 Insurance reserves ND ND ND ND ND ND ND ND ND ND 73

74 Retiree Health Care Funds ND ND ND ND ND ND ND ND ND ND 74

75 Other accounts payable ND ND ND ND ND ND ND ND ND ND 75

76 Trade payables ND ND ND ND ND ND ND ND ND ND 76

77 Other (miscellaneous liabilities) ND ND ND ND ND ND ND ND ND ND 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 36-63) ND ND ND ND ND ND ND ND ND ND 78

 Other changes in volume account

79 Total other volume changes ND ND ND ND ND ND ND ND ND ND 79

80 Disaster losses ND ND ND ND ND ND ND ND ND ND 80

81 Other volume changes ND ND ND ND ND ND ND ND ND ND 81

82 Less: Statistical discrepancy (lines 34-[36-63]) (2) ND ND ND ND ND ND ND ND ND ND 82

 Revaluation account

83 Nonfinancial assets ND ND ND ND ND ND ND ND ND ND 83

84 Structures ND ND ND ND ND ND ND ND ND ND 84

85 Equipment and software ND ND ND ND ND ND ND ND ND ND 85

86 Financial assets ND ND ND ND ND ND ND ND ND ND 86

87 Monetary gold and SDRs ND ND ND ND ND ND ND ND ND ND 87

88 Currency and deposits ND ND ND ND ND ND ND ND ND ND 88

89 Corporate equities ND ND ND ND ND ND ND ND ND ND 89

90 Equity investment under Public-Private Inv. Program ND ND ND ND ND ND ND ND ND ND 90

91 Liabilities ND ND ND ND ND ND ND ND ND ND 91

92 SDR allocations ND ND ND ND ND ND ND ND ND ND 92

93 Changes in net worth due to nominal holding gains/losses ND ND ND ND ND ND ND ND ND ND 93

 Changes in balance sheet account

94 Change in net worth (lines 30+34+79+93) ND ND ND ND ND ND ND ND ND ND 94

 Balance sheet account (end of period)

95 Total assets ND ND ND ND ND ND ND ND ND ND 95

96 Nonfinancial assets (3) ND ND ND ND ND ND ND ND ND ND 96

97 Structures ND ND ND ND ND ND ND ND ND ND 97

98 Equipment and software ND ND ND ND ND ND ND ND ND ND 98

99 Financial assets ND ND ND ND ND ND ND ND ND ND 99

100 Monetary gold and SDRs ND ND ND ND ND ND ND ND ND ND 100

101 Monetary gold ND ND ND ND ND ND ND ND ND ND 101

102 SDR holdings ND ND ND ND ND ND ND ND ND ND 102
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132 Historical Annuals, 1945-1954, June 6, 2013

S.7.a Federal Government

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

103 Currency and deposits ND ND ND ND ND ND ND ND ND ND 103

104 Official foreign currencies ND ND ND ND ND ND ND ND ND ND 104

105 Reserve position in IMF (net) ND ND ND ND ND ND ND ND ND ND 105

106 Currency and transferable deposits ND ND ND ND ND ND ND ND ND ND 106

107 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 107

108 Nonofficial foreign currencies ND ND ND ND ND ND ND ND ND ND 108

109 Debt securities ND ND ND ND ND ND ND ND ND ND 109

110 Agency- and GSE-backed securities ND ND ND ND ND ND ND ND ND ND 110

111 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 111

112 Loans ND ND ND ND ND ND ND ND ND ND 112

113 Short term ND ND ND ND ND ND ND ND ND ND 113

114 Consumer credit ND ND ND ND ND ND ND ND ND ND 114

115 Other loans and advances ND ND ND ND ND ND ND ND ND ND 115

116 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 116

117 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 117

118 Corporate equities ND ND ND ND ND ND ND ND ND ND 118

119 Equity in international organizations ND ND ND ND ND ND ND ND ND ND 119

120 Equity in government-sponsored enterprises (1) ND ND ND ND ND ND ND ND ND ND 120

121 Equity investment under Public-Private Inv. Program ND ND ND ND ND ND ND ND ND ND 121

122 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 122

123 Trade receivables ND ND ND ND ND ND ND ND ND ND 123

124 Taxes receivable ND ND ND ND ND ND ND ND ND ND 124

125 Other (miscellaneous assets) ND ND ND ND ND ND ND ND ND ND 125

126 Total liabilities and net worth ND ND ND ND ND ND ND ND ND ND 126

127 Liabilities ND ND ND ND ND ND ND ND ND ND 127

128 SDR allocations ND ND ND ND ND ND ND ND ND ND 128

129 Currency and deposits ND ND ND ND ND ND ND ND ND ND 129

130 Debt securities ND ND ND ND ND ND ND ND ND ND 130

131 SDR certificates ND ND ND ND ND ND ND ND ND ND 131

132 Treasury securities including savings bonds ND ND ND ND ND ND ND ND ND ND 132

133 Federal agency securities ND ND ND ND ND ND ND ND ND ND 133

134 Nonmarketable securities held by pension plans ND ND ND ND ND ND ND ND ND ND 134

135 Loans (mortgages) ND ND ND ND ND ND ND ND ND ND 135

136 Insurance, pension and standardized guarantee schemes ND ND ND ND ND ND ND ND ND ND 136

137 Insurance reserves ND ND ND ND ND ND ND ND ND ND 137

138 Retiree Health Care Funds ND ND ND ND ND ND ND ND ND ND 138

139 Other accounts payable ND ND ND ND ND ND ND ND ND ND 139

140 Trade payables ND ND ND ND ND ND ND ND ND ND 140

141 Other (miscellaneous liabilities) ND ND ND ND ND ND ND ND ND ND 141

142 Net worth ND ND ND ND ND ND ND ND ND ND 142

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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Historical Annuals, 1945-1954, June 6, 2013 133

S.8.a State and Local Governments

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Current account

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation of employees (paid) ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 7

 8 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 8

 9 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 9

10 Taxes on production and imports, receivable ND ND ND ND ND ND ND ND ND ND 10

11 Subsidies (paid) ND ND ND ND ND ND ND ND ND ND 11

12 Property income (received) ND ND ND ND ND ND ND ND ND ND 12

13 Interest ND ND ND ND ND ND ND ND ND ND 13

14 Distributed income of corporations (dividends) ND ND ND ND ND ND ND ND ND ND 14

15 Rents on land and natural resources ND ND ND ND ND ND ND ND ND ND 15

16 Less: Uses of property income (interest paid) ND ND ND ND ND ND ND ND ND ND 16

17 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 17

18 Plus: Current taxes on income, wealth, etc. (received) ND ND ND ND ND ND ND ND ND ND 18

19 Plus: Social benefits (received) ND ND ND ND ND ND ND ND ND ND 19

20 Less: Social contributions (paid) ND ND ND ND ND ND ND ND ND ND 20

21 Plus: Other current transfers (received) ND ND ND ND ND ND ND ND ND ND 21

22 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 22

23 Less: Final consumption expenditures ND ND ND ND ND ND ND ND ND ND 23

24 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 24

 Capital account

25 Net saving less capital transfers ND ND ND ND ND ND ND ND ND ND 25

26 Net saving ND ND ND ND ND ND ND ND ND ND 26

27 Less: Capital transfers paid (net) ND ND ND ND ND ND ND ND ND ND 27

28 Capital formation, net ND ND ND ND ND ND ND ND ND ND 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) ND ND ND ND ND ND ND ND ND ND 29

30 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 30

31 Acquisition of nonproduced nonfinancial assets ND ND ND ND ND ND ND ND ND ND 31

32 Net lending (+) or borrowing (-), capital account (lines 25-28) ND ND ND ND ND ND ND ND ND ND 32

 Financial account

33 Net lending (+) or borrowing (-) (line 32) ND ND ND ND ND ND ND ND ND ND 33

34 Net acquisition of financial assets ND ND ND ND ND ND ND ND ND ND 34

35 Currency and deposits ND ND ND ND ND ND ND ND ND ND 35

36 Currency and transferable deposits ND ND ND ND ND ND ND ND ND ND 36

37 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 37

38 Debt securities ND ND ND ND ND ND ND ND ND ND 38

39 Open market paper ND ND ND ND ND ND ND ND ND ND 39

40 Treasury securities ND ND ND ND ND ND ND ND ND ND 40

41 Agency- and GSE-backed securities (1) ND ND ND ND ND ND ND ND ND ND 41

42 Municipal securities ND ND ND ND ND ND ND ND ND ND 42

43 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 43

44 Loans ND ND ND ND ND ND ND ND ND ND 44

45 Short term (security repurchases) ND ND ND ND ND ND ND ND ND ND 45

46 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 46

47 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 47

48 Money market fund shares ND ND ND ND ND ND ND ND ND ND 48

49 Corporate equities ND ND ND ND ND ND ND ND ND ND 49

50 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 50

51 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 51

52 Trade receivables ND ND ND ND ND ND ND ND ND ND 52

53 Taxes receivable ND ND ND ND ND ND ND ND ND ND 53

54 Other (miscellaneous assets) ND ND ND ND ND ND ND ND ND ND 54
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134 Historical Annuals, 1945-1954, June 6, 2013

S.8.a State and Local Governments

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

55 Net incurrence of liabilities ND ND ND ND ND ND ND ND ND ND 55

56 Debt securities (municipals) ND ND ND ND ND ND ND ND ND ND 56

57 Short term ND ND ND ND ND ND ND ND ND ND 57

58 Other ND ND ND ND ND ND ND ND ND ND 58

59 Loans (short term) ND ND ND ND ND ND ND ND ND ND 59

60 Other accounts payable (trade payables) ND ND ND ND ND ND ND ND ND ND 60

 Addendum:

61 Net lending (+) or borrowing (-), financial account (lines 34-55) ND ND ND ND ND ND ND ND ND ND 61

 Other changes in volume account

62 Total other volume changes ND ND ND ND ND ND ND ND ND ND 62

63 Disaster losses ND ND ND ND ND ND ND ND ND ND 63

64 Other volume changes ND ND ND ND ND ND ND ND ND ND 64

65 Less: Statistical discrepancy (lines 32-[34-55]) (2) ND ND ND ND ND ND ND ND ND ND 65

 Revaluation account

66 Nonfinancial assets ND ND ND ND ND ND ND ND ND ND 66

67 Structures ND ND ND ND ND ND ND ND ND ND 67

68 Equipment and software ND ND ND ND ND ND ND ND ND ND 68

69 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 69

70 Changes in net worth due to nominal holding gains/losses ND ND ND ND ND ND ND ND ND ND 70

 Changes in balance sheet account

71 Change in net worth (lines 28+32+62+70) ND ND ND ND ND ND ND ND ND ND 71

 Balance sheet account (end of period)

72 Total assets ND ND ND ND ND ND ND ND ND ND 72

73 Nonfinancial assets (3) ND ND ND ND ND ND ND ND ND ND 73

74 Structures ND ND ND ND ND ND ND ND ND ND 74

75 Equipment and software ND ND ND ND ND ND ND ND ND ND 75

76 Financial assets ND ND ND ND ND ND ND ND ND ND 76

77 Currency and deposits ND ND ND ND ND ND ND ND ND ND 77

78 Currency and transferable deposits ND ND ND ND ND ND ND ND ND ND 78

79 Time and savings deposits ND ND ND ND ND ND ND ND ND ND 79

80 Debt securities ND ND ND ND ND ND ND ND ND ND 80

81 Open market paper ND ND ND ND ND ND ND ND ND ND 81

82 Treasury securities ND ND ND ND ND ND ND ND ND ND 82

83 Agency- and GSE-backed securities (1) ND ND ND ND ND ND ND ND ND ND 83

84 Municipal securities ND ND ND ND ND ND ND ND ND ND 84

85 Corporate and foreign bonds ND ND ND ND ND ND ND ND ND ND 85

86 Loans ND ND ND ND ND ND ND ND ND ND 86

87 Short term (security repurchases) ND ND ND ND ND ND ND ND ND ND 87

88 Long term (mortgages) ND ND ND ND ND ND ND ND ND ND 88

89 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 89

90 Money market fund shares ND ND ND ND ND ND ND ND ND ND 90

91 Corporate equities ND ND ND ND ND ND ND ND ND ND 91

92 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 92

93 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 93

94 Trade receivables ND ND ND ND ND ND ND ND ND ND 94

95 Taxes receivable ND ND ND ND ND ND ND ND ND ND 95

96 Other (miscellaneous assets) ND ND ND ND ND ND ND ND ND ND 96

97 Total liabilities and net worth ND ND ND ND ND ND ND ND ND ND 97

98 Liabilities ND ND ND ND ND ND ND ND ND ND 98

99 Debt securities (municipals) ND ND ND ND ND ND ND ND ND ND 99

100 Short term ND ND ND ND ND ND ND ND ND ND 100

101 Other ND ND ND ND ND ND ND ND ND ND 101
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S.8.a State and Local Governments

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

102 Loans (short term) ND ND ND ND ND ND ND ND ND ND 102

103 Other accounts payable (trade payables) ND ND ND ND ND ND ND ND ND ND 103

104 Net worth ND ND ND ND ND ND ND ND ND ND 104

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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136 Historical Annuals, 1945-1954, June 6, 2013

S.9.a Rest of the World 

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

 Current account

 1 Foreign income from U.S. ND ND ND ND ND ND ND ND ND ND 1

 2 U.S. imports of goods and services ND ND ND ND ND ND ND ND ND ND 2

 3 U.S. income payments to rest of world ND ND ND ND ND ND ND ND ND ND 3

 4 Current taxes and trans. payments to rest of world ND ND ND ND ND ND ND ND ND ND 4

 5 Less: Foreign outlays to U.S. ND ND ND ND ND ND ND ND ND ND 5

 6 U.S. exports of goods and services ND ND ND ND ND ND ND ND ND ND 6

 7 U.S. income receipts from rest of world ND ND ND ND ND ND ND ND ND ND 7

 8 Equals: Net saving (current external balance) ND ND ND ND ND ND ND ND ND ND 8

 Capital account

 9 Net saving ND ND ND ND ND ND ND ND ND ND 9

10 Less: Net capital transfers ND ND ND ND ND ND ND ND ND ND 10

11 Less: Acquisition of nonproduced nonfinancial assets ND ND ND ND ND ND ND ND ND ND 11

12 Net lending (+) or borrowing (-), capital account (lines 9-10-11) ND ND ND ND ND ND ND ND ND ND 12

 Financial account

13 Net lending (+) or borrowing (-) (line 12) ND ND ND ND ND ND ND ND ND ND 13

14 Net acquisition of U.S. financial assets ND ND ND ND ND ND ND ND ND ND 14

15 Monetary gold and SDRs ND ND ND ND ND ND ND ND ND ND 15

16 Monetary gold ND ND ND ND ND ND ND ND ND ND 16

17 SDR allocations ND ND ND ND ND ND ND ND ND ND 17

18 Currency and deposits ND ND ND ND ND ND ND ND ND ND 18

19 Currency ND ND ND ND ND ND ND ND ND ND 19

20 Transferable deposits ND ND ND ND ND ND ND ND ND ND 20

21 Time deposits ND ND ND ND ND ND ND ND ND ND 21

22 Net interbank items due from U.S. banks ND ND ND ND ND ND ND ND ND ND 22

23 Debt securities ND ND ND ND ND ND ND ND ND ND 23

24 Open market paper ND ND ND ND ND ND ND ND ND ND 24

25 Treasury securities ND ND ND ND ND ND ND ND ND ND 25

26 Agency- and GSE-backed securities (1) ND ND ND ND ND ND ND ND ND ND 26

27 Municipal securities ND ND ND ND ND ND ND ND ND ND 27

28 Corporate bonds ND ND ND ND ND ND ND ND ND ND 28

29 Loans (short term) ND ND ND ND ND ND ND ND ND ND 29

30 Security repurchases (net) ND ND ND ND ND ND ND ND ND ND 30

31 Loans to U.S. corporate business ND ND ND ND ND ND ND ND ND ND 31

32 Security credit ND ND ND ND ND ND ND ND ND ND 32

33 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 33

34 Money market fund shares ND ND ND ND ND ND ND ND ND ND 34

35 Corporate equities ND ND ND ND ND ND ND ND ND ND 35

36 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 36

37 Foreign direct investment in the United States ND ND ND ND ND ND ND ND ND ND 37

38 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 38

39 Trade receivables ND ND ND ND ND ND ND ND ND ND 39

40 Other (miscellaneous assets) ND ND ND ND ND ND ND ND ND ND 40

41 Net incurrence of liabilities ND ND ND ND ND ND ND ND ND ND 41

42 SDR holdings ND ND ND ND ND ND ND ND ND ND 42

43 Currency and deposits ND ND ND ND ND ND ND ND ND ND 43

44 Official foreign currencies ND ND ND ND ND ND ND ND ND ND 44

45 Reserve position in IMF (net) ND ND ND ND ND ND ND ND ND ND 45

46 U.S. private deposits ND ND ND ND ND ND ND ND ND ND 46

47 Nonofficial foreign currencies ND ND ND ND ND ND ND ND ND ND 47

48 Debt securities ND ND ND ND ND ND ND ND ND ND 48

49 Commercial paper ND ND ND ND ND ND ND ND ND ND 49

50 Bonds ND ND ND ND ND ND ND ND ND ND 50

51 Loans (short term) ND ND ND ND ND ND ND ND ND ND 51

52 Other loans and advances ND ND ND ND ND ND ND ND ND ND 52

53 Depository institution loans n.e.c. ND ND ND ND ND ND ND ND ND ND 53

54 Security debt ND ND ND ND ND ND ND ND ND ND 54

55 Nonoff. foreign currencies (swap lines) ND ND ND ND ND ND ND ND ND ND 55
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S.9.a Rest of the World 

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

56 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 56

57 Corporate equities ND ND ND ND ND ND ND ND ND ND 57

58 U.S. government equity in IBRD, etc. ND ND ND ND ND ND ND ND ND ND 58

59 U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 59

60 Investment by holding companies ND ND ND ND ND ND ND ND ND ND 60

61 Other accounts payable ND ND ND ND ND ND ND ND ND ND 61

62 Trade payables ND ND ND ND ND ND ND ND ND ND 62

63 Other (miscellaneous liabilities) ND ND ND ND ND ND ND ND ND ND 63

 Addendum:

64 Net lending, financial account (lines 14-41) ND ND ND ND ND ND ND ND ND ND 64

 Other changes in volume account

65 Total other volume changes ND ND ND ND ND ND ND ND ND ND 65

66 Other volume changes ND ND ND ND ND ND ND ND ND ND 66

67 Less: Statistical discrepancy (lines 12-[14-41]) (2) ND ND ND ND ND ND ND ND ND ND 67

 Revaluation account

68 Financial assets ND ND ND ND ND ND ND ND ND ND 68

69 SDR allocations ND ND ND ND ND ND ND ND ND ND 69

70 Debt securities ND ND ND ND ND ND ND ND ND ND 70

71 Treasury securities ND ND ND ND ND ND ND ND ND ND 71

72 Agency- and GSE-backed securities ND ND ND ND ND ND ND ND ND ND 72

73 Corporate bonds ND ND ND ND ND ND ND ND ND ND 73

74 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 74

75 Corporate equities ND ND ND ND ND ND ND ND ND ND 75

76 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 76

77 Foreign direct investment in the United States ND ND ND ND ND ND ND ND ND ND 77

78 Liabilities ND ND ND ND ND ND ND ND ND ND 78

79 SDR holdings ND ND ND ND ND ND ND ND ND ND 79

80 Currency and deposits ND ND ND ND ND ND ND ND ND ND 80

81 Official foreign currencies ND ND ND ND ND ND ND ND ND ND 81

82 Reserve position in IMF (net) ND ND ND ND ND ND ND ND ND ND 82

83 U.S. private deposits ND ND ND ND ND ND ND ND ND ND 83

84 Nonofficial foreign currencies ND ND ND ND ND ND ND ND ND ND 84

85 Debt securities (corporate bonds) ND ND ND ND ND ND ND ND ND ND 85

86 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 86

87 Corporate equities ND ND ND ND ND ND ND ND ND ND 87

88 U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 88

89 Changes in net worth due to nominal holding gains/losses ND ND ND ND ND ND ND ND ND ND 89

 Changes in balance sheet account

90 Change in net worth (lines 12+65+89) ND ND ND ND ND ND ND ND ND ND 90

 Financial balance sheet account (end of period) (3)

91 Total financial assets ND ND ND ND ND ND ND ND ND ND 91

92 SDR allocations ND ND ND ND ND ND ND ND ND ND 92

93 Currency and deposits ND ND ND ND ND ND ND ND ND ND 93

94 Currency ND ND ND ND ND ND ND ND ND ND 94

95 Transferable deposits ND ND ND ND ND ND ND ND ND ND 95

96 Time deposits ND ND ND ND ND ND ND ND ND ND 96

97 Net interbank items due from U.S. banks ND ND ND ND ND ND ND ND ND ND 97

98 Debt securities ND ND ND ND ND ND ND ND ND ND 98

99 Open market paper ND ND ND ND ND ND ND ND ND ND 99

100 Treasury securities ND ND ND ND ND ND ND ND ND ND 100

101 Agency- and GSE-backed securities (1) ND ND ND ND ND ND ND ND ND ND 101

102 Municipal securities ND ND ND ND ND ND ND ND ND ND 102

103 Corporate bonds ND ND ND ND ND ND ND ND ND ND 103
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138 Historical Annuals, 1945-1954, June 6, 2013

S.9.a Rest of the World 

Billions of dollars

1945 1946 1947 1948 1949 1950 1951 1952 1953 1954

 

104 Loans (short term) ND ND ND ND ND ND ND ND ND ND 104

105 Security repurchases (net) ND ND ND ND ND ND ND ND ND ND 105

106 Loans to U.S. corporate business ND ND ND ND ND ND ND ND ND ND 106

107 Security credit ND ND ND ND ND ND ND ND ND ND 107

108 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 108

109 Money market fund shares ND ND ND ND ND ND ND ND ND ND 109

110 Corporate equities ND ND ND ND ND ND ND ND ND ND 110

111 Mutual fund shares ND ND ND ND ND ND ND ND ND ND 111

112 Foreign direct investment in the United States ND ND ND ND ND ND ND ND ND ND 112

113 Other accounts receivable ND ND ND ND ND ND ND ND ND ND 113

114 Trade receivables ND ND ND ND ND ND ND ND ND ND 114

115 Other (miscellaneous assets) ND ND ND ND ND ND ND ND ND ND 115

116 Total liabilities and net worth ND ND ND ND ND ND ND ND ND ND 116

117 Total liabilities ND ND ND ND ND ND ND ND ND ND 117

118 SDR holdings ND ND ND ND ND ND ND ND ND ND 118

119 Currency and deposits ND ND ND ND ND ND ND ND ND ND 119

120 Official foreign currencies ND ND ND ND ND ND ND ND ND ND 120

121 Reserve position in IMF (net) ND ND ND ND ND ND ND ND ND ND 121

122 U.S. private deposits ND ND ND ND ND ND ND ND ND ND 122

123 Nonofficial foreign currencies ND ND ND ND ND ND ND ND ND ND 123

124 Debt securities ND ND ND ND ND ND ND ND ND ND 124

125 Commercial paper ND ND ND ND ND ND ND ND ND ND 125

126 Bonds ND ND ND ND ND ND ND ND ND ND 126

127 Loans (short term) ND ND ND ND ND ND ND ND ND ND 127

128 Other loans and advances ND ND ND ND ND ND ND ND ND ND 128

129 Depository institution loans n.e.c. ND ND ND ND ND ND ND ND ND ND 129

130 Security debt ND ND ND ND ND ND ND ND ND ND 130

131 Nonoff. foreign currencies (swap lines) ND ND ND ND ND ND ND ND ND ND 131

132 Equity and investment fund shares ND ND ND ND ND ND ND ND ND ND 132

133 Corporate equities ND ND ND ND ND ND ND ND ND ND 133

134 U.S. government equity in IBRD, etc. ND ND ND ND ND ND ND ND ND ND 134

135 U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 135

136 Investment by holding companies ND ND ND ND ND ND ND ND ND ND 136

137 Other accounts payable ND ND ND ND ND ND ND ND ND ND 137

138 Trade payables ND ND ND ND ND ND ND ND ND ND 138

139 Other (miscellaneous liabilities) ND ND ND ND ND ND ND ND ND ND 139

140 Net worth (external account) ND ND ND ND ND ND ND ND ND ND 140

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes nonfinancial assets, including nonproduced nonfinancial assets.

IBRD International Bank for Reconstruction and Development

IMF International Monetary Fund

SDRs Special Drawing Rights

n.e.c. Not elsewhere classified