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

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

March 10, 2016

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

Historical Annual Tables

1995–2004

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

i

Title Table Page

Summaries

Net National Wealth B.1 1

Distribution of Gross Domestic Product F.2 2

Distribution of National Income F.3 3

Saving and Investment F.4 4

Net Capital Transfers F.5 5

Derivation of Measures of Personal Saving F.6 6

Assets and Liabilities of the Personal Sector L.6 7

Title

Flows Levels

Table Page Table Page

Sectors

Domestic Nonfinancial F.100 8 L.100 69

Households and Nonprofit Organizations F.101 9 L.101 70

Nonfinancial Business F.102 10 L.102 71

Nonfinancial Corporate Business F.103 11 L.103 72

Nonfinancial Noncorporate Business F.104 12 L.104 73

General Government F.105 13 L.105 74

Federal Government F.106 14 L.106 75

State and Local Governments F.107 15 L.107 76

Domestic Financial F.108 16 L.108 77

Monetary Authority F.109 17 L.109 78

Private Depository Institutions F.110 18 L.110 79

U.S.-Chartered Depository Institutions F.111 19 L.111 80

Foreign Banking Offices in U.S. F.112 20 L.112 81

Banks in U.S.-Affiliated Areas F.113 21 L.113 82

Credit Unions F.114 21 L.114 82

Property-Casualty Insurance Companies F.115 22 L.115 83

Life Insurance Companies F.116 23 L.116 84

Life Insurance Companies: General Accounts F.116.g 24 L.116.g 85

Life Insurance Companies: Separate Accounts F.116.s 24 L.116.s 85

List of Data Tables
ii

Sectors

Private and Public Pension Funds F.117 25 L.117 86

Private Pension Funds F.118 26 L.118 87

Private Pension Funds: Defined Benefit Plans F.118.b 27 L.118.b 88

Private Pension Funds: Defined Contribution 

Plans F.118.c 27 L.118.c 88

Federal Government Employee Retirement Funds F.119 28 L.119 89

Federal Government Employee Retirement 

Funds: Defined Benefit Plans F.119.b 29 L.119.b 90

Federal Government Employee Retirement 

Funds: Defined Contribution Plans F.119.c 30 L.119.c 90

State and Local Government Employee Retirement 

Funds F.120 30 L.120 91

State and Local Government Employee 

Retirement Funds: Defined Benefit Plans F.120.b 31 L.120.b 92

State and Local Government Employee 

Retirement Funds: Defined Contribution 

Plans F.120.c 31 L.120.c 92

Money Market Mutual Funds F.121 32 L.121 93

Mutual Funds F.122 32 L.122 93

Closed-End and Exchange-Traded Funds F.123 32 L.123 93

Government-Sponsored Enterprises F.124 33 L.124 94

Agency- and GSE-Backed Mortgage Pools F.125 33 L.125 94

Issuers of Asset-Backed Securities F.126 34 L.126 95

Finance Companies F.127 35 L.127 96

Real Estate Investment Trusts (REITs) F.128 36 L.128 97

Equity Real Estate Investment Trusts F.128.e 37 L.128.e 98

Mortgage Real Estate Investment Trusts F.128.m 37 L.128.m 98

Security Brokers and Dealers F.129 38 L.129 99

Holding Companies F.130 39 L.130 100

Funding Corporations F.131 40 L.131 101

Rest of the World F.132 41 L.132 102

Instruments

U.S. Official Reserve Assets and SDR Allocations F.200 42 L.200 103

Special Drawing Rights (SDRs) Certificates and 

Treasury Currency F.201 42 L.201 103

U.S. Deposits in Foreign Countries F.202 42 L.202 103

Net Interbank Transactions F.203 43 L.203 104
iii

Instruments

Checkable Deposits and Currency F.204 44 L.204 105

Time and Savings Deposits F.205 45 L.205 106

Money Market Mutual Fund Shares F.206 45 L.206 106

Federal Funds and Security Repurchase Agreements F.207 46 L.207 107

Debt Securities F.208 47 L.208 108

Open Market Paper F.209 48 L.209 109

Treasury Securities F.210 49 L.210 110

Agency- and GSE-Backed Securities F.211 50 L.211 111

Municipal Securities F.212 51 L.212 112

Corporate and Foreign Bonds F.213 52 L.213 113

Loans F.214 53 L.214 114

Depository Institution Loans Not Elsewhere Classified F.215 54 L.215 115

Other Loans and Advances F.216 55 L.216 116

Total Mortgages F.217 56 L.217 117

Home Mortgages F.218 57 L.218 118

Multifamily Residential Mortgages F.219 57 L.219 118

Commercial Mortgages F.220 58 L.220 119

Farm Mortgages F.221 58 L.221 119

Consumer Credit F.222 59 L.222 120

Corporate Equities F.223 60 L.223 121

Mutual Fund Shares F.224 60 L.224 121

Trade Credit F.225 61 L.225 122

Life Insurance Reserves F.226 61 L.226 122

Pension Entitlements F.227 62 L.227 123

Taxes Payable by Businesses F.228 62 L.228 123

Proprietors' Equity in Noncorporate Business F.229 62 L.229 123

Direct Investment F.230 63 L.230 124

Total Miscellaneous Financial Claims F.231 64 L.231 125

Identified Miscellaneous Financial Claims -- Part I F.232 65 L.232 126

Identified Miscellaneous Financial Claims -- Part II F.233 66 L.233 127

Unidentified Miscellaneous Financial Claims F.234 67 L.234 128

Sector Discrepancies F.7 68

Instrument Discrepancies F.8 68
iv

Title

Balance Sheet Reconciliation

Table Page Table Page

Balance Sheet and Changes in Net Worth

Households and Nonprofit Organizations B.101 129 R.101 132

Nonfinancial Corporate Business B.103 130 R.103 133

Nonfarm Noncorporate Business B.104 131 R.104 134

Title

Flows Levels

Table Page Table Page

Supplementary Tables

Balance Sheet of Households and Nonprofit 

Organizations with Equity Detail B.101.e 135

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy -- Current Account S.1.a 136

Selected Aggregates for Total Economy and Sectors S.2.a 137

Households and Nonprofit Institutions Serving Households S.3.a 139

Nonfinancial Noncorporate Business S.4.a 142

Nonfinancial Corporate Business S.5.a 145

Financial Business S.6.a 148

Central Bank S.61.a 151

Private Depository Institutions S.62.a 153

Insurance Companies S.63.a 156

Pension Funds S.64.a 159

Other Financial Business S.65.a 162

Federal Government S.7.a 165

State and Local Governments S.8.a 168

Rest of the World S.9.a 171
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Historical Annuals, 1995-2004, March 10, 2016 1

B.1 Derivation of U.S. Net Wealth

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 U.S. net wealth (1) 28235.1 30070.3 33858.0 37850.7 43237.7 43941.9 44080.2 43364.2 49578.9 56384.6 1

 2 Households’ direct holdings of nonfinancial assets 11497.8 11985.2 12688.1 13778.8 14963.3 16923.4 18456.8 20045.5 21919.4 25006.1 2

 3 Real estate 8835.2 9220.5 9826.6 10788.6 11800.4 13532.2 14888.6 16295.1 17996.9 20841.7 3

 4 Equipment (nonprofits) 90.1 91.4 94.6 103.6 114.3 127.3 140.2 155.9 171.8 189.4 4

 5 Intellectual property products (nonprofits) 43.2 45.3 48.9 52.9 57.5 62.0 63.8 67.1 71.6 75.5 5

 6 Consumer durable goods 2529.3 2627.9 2718.0 2833.8 2991.1 3201.8 3364.3 3527.5 3679.2 3899.5 6

 7 Nonfin. noncorporate businesses nonfinancial assets 4438.9 4597.2 5039.3 5361.4 5719.4 6285.8 6550.2 7000.4 7566.6 8771.2 7

 8 Real estate 3861.5 3963.8 4386.9 4701.3 5027.0 5551.3 5800.0 6216.4 6742.6 7893.6 8

 9 Equipment 377.3 393.4 405.8 420.1 433.9 453.2 470.2 485.5 501.8 536.0 9

 10 Intellectual property products 56.6 59.9 64.6 72.0 83.5 96.4 105.3 115.5 125.9 135.3 10

 11 Inventories 143.4 180.1 182.0 168.0 174.9 184.8 174.7 183.0 196.2 206.3 11

 12 Fin. noncorporate businesses nonfinancial assets (2) 5.4 6.5 9.5 9.6 11.5 11.7 6.2 5.0 13.0 11.2 12

 13 Market value of domestic corporations (3) 7690.7 8697.5 11343.5 13799.9 17142.9 15446.9 13932.1 11013.3 14508.0 16319.9 13

 14 Nonfinancial corporate equity 6406.8 6758.1 8609.7 10887.4 14224.7 12173.8 10782.6 8159.3 10796.0 12033.8 14

 15 Financial corporate equity 1284.0 1939.4 2733.7 2912.5 2918.2 3273.1 3149.5 2854.0 3712.0 4286.1 15

 16 Federal government nonfinancial assets (4) 1794.1 1823.5 1850.2 1883.3 1943.8 1987.7 2011.3 2059.5 2130.4 2277.1 16

 17 Structures 774.3 804.1 833.3 858.3 892.8 927.0 950.9 974.5 999.1 1088.2 17

 18 Equipment 486.6 480.4 468.2 465.3 473.5 465.8 456.5 463.7 474.9 498.3 18

 19 Intellectual property products 533.2 539.0 548.7 559.7 577.5 594.9 603.9 621.4 656.3 690.6 19

 20 State and local governments nonfinancial assets (4) 3240.8 3394.8 3576.6 3766.5 4020.3 4309.9 4553.5 4798.5 5024.4 5662.8 20

 21 Structures 3053.5 3200.3 3375.1 3555.1 3795.7 4072.0 4306.6 4543.0 4760.4 5388.1 21

 22 Equipment 143.4 149.3 154.0 161.1 170.6 179.7 185.5 191.5 196.6 203.3 22

 23 Intellectual property products 43.9 45.1 47.5 50.4 54.0 58.2 61.3 64.0 67.5 71.4 23

 24 Net U.S. financial claims on the rest of the world -432.6 -434.3 -649.1 -748.7 -563.5 -1023.5 -1429.8 -1557.9 -1582.7 -1663.7 24

 25 U.S. financial claims on the rest of the world 2874.2 3385.5 3841.4 4299.0 5057.7 5180.5 5222.4 5401.6 6668.7 8035.3 25

 26 U.S. holdings of foreign corporate equities 790.6 1006.1 1207.8 1475.0 2003.7 1852.8 1612.7 1374.0 2079.4 2560.4 26

 27 Other U.S. financial claims 2083.6 2379.3 2633.6 2824.0 3053.9 3327.7 3609.7 4027.6 4589.2 5474.9 27

 28 Less: Foreign financial claims on U.S. 3306.8 3819.7 4490.4 5047.7 5621.2 6204.0 6652.1 6959.5 8251.4 9699.1 28

 29 Foreign holdings of U.S. corporate equities 484.6 584.3 837.3 1107.9 1434.0 1483.0 1441.0 1229.1 1697.6 1952.7 29

 30 Other foreign financial claims 2822.2 3235.4 3653.1 3939.8 4187.2 4721.0 5211.2 5730.4 6553.8 7746.3 30

 Memo:

 31 A. U.S. net wealth (line 1) 28235.1 30070.3 33858.0 37850.7 43237.7 43941.9 44080.2 43364.2 49578.9 56384.6 31

 32 Change in U.S. net wealth 2683.9 1835.3 3787.6 3992.8 5386.9 704.2 138.3 -716.0 6214.7 6805.7 32

 33 Percent change in U.S. net wealth 10.5 6.5 12.6 11.8 14.2 1.6 0.3 -1.6 14.3 13.7 33

 34 B. Household net worth (5) 29233.6 30915.4 34334.5 38141.7 42845.3 43533.1 44006.6 43550.2 48886.6 55832.5 34

 35 Change in household net worth 2442.0 1681.8 3419.1 3807.2 4703.6 687.8 473.5 -456.4 5336.4 6946.0 35

 36 Percent change in household net worth 9.1 5.8 11.1 11.1 12.3 1.6 1.1 -1.0 12.3 14.2 36

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

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

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

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

 because of differences in the valuation of assets.

(4) Excludes land and nonproduced nonfinancial assets.

(5) Household net worth is calculated as the difference between total assets and liabilities of the household and nonprofit organizations sector. See table B.101.
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2 Historical Annuals, 1995-2004, March 10, 2016

F.2 Distribution of Gross Domestic Product (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross Domestic Product (GDP) 7664.1 8100.2 8608.5 9089.2 9660.6 10284.8 10621.8 10977.5 11510.7 12274.9 1

 2 Personal consumption expenditures (2) 4984.2 5268.1 5560.7 5903.0 6307.0 6792.4 7103.1 7384.1 7765.5 8260.0 2

 3 Durable goods 635.7 676.3 715.5 779.3 855.6 912.6 941.5 985.4 1017.5 1079.8 3

 4 Nondurable goods 1179.8 1241.4 1291.2 1329.4 1431.2 1540.3 1583.7 1613.2 1704.0 1820.4 4

 5 Services 3168.6 3350.4 3554.0 3794.3 4020.3 4339.5 4577.9 4785.5 5044.0 5359.8 5

 6 Gross private domestic investment 1317.5 1432.1 1595.6 1735.3 1884.2 2033.8 1928.6 1925.0 2028.0 2276.7 6

 7 Fixed investment (3) 1286.3 1401.3 1524.7 1671.6 1823.4 1979.2 1966.9 1906.5 2008.7 2212.8 7

 8 Nonresidential 962.2 1043.2 1149.1 1252.8 1361.6 1493.8 1453.9 1348.9 1371.7 1463.1 8

 9 Household sector (nonprofit organizations) 51.6 54.8 68.1 80.3 85.8 94.9 99.1 106.2 112.0 122.1 9

 10 Nonfinancial corporate business 719.8 780.5 857.9 912.7 988.1 1091.2 1052.4 938.0 956.6 1008.9 10

 11 Nonfinancial noncorporate business 92.1 98.0 107.5 120.0 133.1 148.8 148.2 148.8 146.6 155.7 11

 12 Financial institutions 98.7 109.9 115.7 139.9 154.7 158.8 154.1 155.9 156.5 176.5 12

 13 Residential 324.1 358.1 375.6 418.8 461.8 485.4 513.0 557.6 636.9 749.7 13

 14 Household sector 266.6 299.2 312.5 355.0 388.2 408.2 435.7 473.9 541.9 643.9 14

 15 Nonfinancial corporate business 0.4 -1.2 -7.3 -7.3 3.0 1.7 1.7 1.5 7.2 2.2 15

 16 Nonfinancial noncorporate business 54.3 55.7 59.0 59.7 68.7 71.7 71.6 77.6 88.1 98.1 16

 17 REITs 2.7 4.4 11.3 11.4 1.8 3.8 4.1 4.6 -0.2 5.5 17

 18 Change in private inventories 31.2 30.8 70.9 63.7 60.8 54.5 -38.3 18.5 19.3 63.9 18

 19 Nonfinancial corporate business 38.5 21.5 62.2 57.2 57.2 50.3 -34.3 18.3 17.1 50.3 19

 20 Nonfinancial noncorporate business -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 20

 21 Net U.S. exports of goods and services -89.8 -96.4 -102.0 -162.7 -256.6 -375.8 -368.7 -426.5 -503.7 -619.2 21

 22 Exports 812.8 867.6 953.8 953.0 992.0 1096.8 1026.7 1002.5 1040.3 1181.5 22

 23 - Imports 902.6 964.0 1055.8 1115.7 1248.6 1472.6 1395.4 1429.0 1543.9 1800.7 23

 Government consumption expenditures and

 24 gross investment 1452.2 1496.5 1554.2 1613.5 1726.0 1834.4 1958.8 2094.9 2220.8 2357.4 24

 25 Consumption expenditures (4) 1144.5 1176.5 1224.6 1272.1 1357.6 1444.2 1545.1 1651.4 1755.6 1868.9 25

 26 Federal 427.7 428.4 438.7 436.4 455.6 475.1 505.4 560.3 628.5 681.4 26

 27 State and local 716.8 748.1 785.9 835.7 902.0 969.1 1039.7 1091.0 1127.1 1187.6 27

 28 Gross investment (4) 307.7 320.0 329.5 341.4 368.5 390.3 413.6 443.6 465.3 488.5 28

 29 Federal 147.7 149.8 143.7 147.7 154.9 157.4 163.8 180.3 196.4 211.0 29

 30 State and local 160.0 170.2 185.8 193.7 213.6 232.9 249.8 263.3 268.9 277.5 30

 Memo:

 31 Net U.S. income receipts from rest of world 28.8 31.8 24.1 18.2 27.1 37.0 51.8 48.6 67.1 89.1 31

 32 U.S. income receipts 229.8 246.4 280.1 286.8 321.4 382.7 325.3 315.8 356.1 451.4 32

 33 - U.S. income payments 201.1 214.6 256.0 268.5 294.3 345.7 273.5 267.2 289.0 362.3 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 7692.8 8132.0 8632.6 9107.4 9687.8 10321.8 10673.6 11026.1 11577.8 12364.1 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 35

 36 Nonfinancial corporate business 5.9 3.4 7.9 4.3 -0.8 -1.2 -0.9 -2.7 -2.1 -1.8 36

 37 Federal government -7.9 -4.8 -8.8 -6.0 -1.2 -0.6 -1.5 -0.3 -0.9 -0.8 37

 38 State and local governments 6.6 6.0 5.8 7.6 8.6 8.6 10.1 11.2 11.4 11.3 38

 39 Rest of the world 0.2 -0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 39

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

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

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

(4) Government inventory investment is included in consumption expenditures.
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Historical Annuals, 1995-2004, March 10, 2016 3

F.3 Distribution of National Income (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 National Income 6479.5 6899.4 7380.4 7857.3 8324.4 8907.0 9184.6 9436.8 9864.2 10540.9 1

 2 Compensation of employees 4202.6 4422.1 4714.7 5077.8 5410.3 5856.6 6046.5 6141.9 6364.5 6739.5 2

 3 Wages and salaries 3418.0 3616.5 3876.8 4181.6 4458.0 4825.9 4954.4 4996.4 5137.8 5421.9 3

 4 Supplements to wages and salaries 784.6 805.6 837.8 896.2 952.3 1030.7 1092.1 1145.5 1226.6 1317.6 4

 5 Proprietors’ income with IVA and CCAdj 484.5 547.4 587.9 644.2 700.4 757.8 836.8 871.0 900.1 962.1 5

 6 Rental income of persons with CCAdj 129.2 147.0 152.0 169.9 183.1 187.7 207.5 217.3 238.0 255.4 6

 7 Corporate profits with IVA and CCAdj 703.0 786.1 865.8 804.1 830.2 781.2 754.0 907.2 1056.4 1283.3 7

 8 Corporate profits with IVA 667.0 741.8 811.0 743.8 762.2 730.3 698.7 795.1 959.9 1215.2 8

 9 Profits before tax 685.3 738.7 796.9 728.1 766.1 747.1 690.6 788.9 969.5 1254.6 9

 10 Domestic nonfinancial 452.0 488.9 527.1 486.4 489.6 451.2 325.3 359.5 496.3 700.2 10

 11 Domestic financial 140.3 147.9 162.2 138.9 154.6 149.7 195.0 270.7 306.5 349.4 11

 12 Rest of the world 92.9 102.0 107.6 102.8 122.0 146.2 170.4 158.8 166.6 205.0 12

 Less:

 13 Taxes on corporate income 217.8 231.5 245.4 248.4 258.8 265.1 203.3 192.3 243.8 306.1 13

 14 Domestic nonfinancial 140.3 152.9 161.4 158.7 171.4 170.2 111.2 97.1 132.9 187.0 14

 15 Domestic financial 77.5 78.5 84.1 89.7 87.4 94.9 92.1 95.2 110.9 119.1 15

 Equals:

 16 Profits after tax 467.4 507.3 551.5 479.7 507.4 482.0 487.3 596.6 725.7 948.5 16

 17 Net dividends 259.0 303.5 339.5 357.1 347.9 384.7 370.6 400.2 434.0 564.1 17

 18 Domestic nonfinancial 178.0 197.6 215.9 241.0 224.7 251.3 245.4 254.8 293.4 364.5 18

 19 Domestic financial 48.2 65.6 76.3 73.8 81.7 104.1 84.5 97.5 108.5 137.3 19

 20 Rest of the world 32.8 40.4 47.2 42.3 41.5 29.2 40.7 47.9 32.1 62.3 20

 21 Undistributed profits 208.5 203.7 212.0 122.6 159.5 97.3 116.8 196.4 291.7 384.4 21

 22 Domestic nonfinancial 133.7 138.4 149.8 86.7 93.5 29.7 -31.4 7.6 70.0 148.7 22

 23 Domestic financial 14.6 3.7 1.9 -24.6 -14.5 -49.3 18.4 78.0 87.1 93.0 23

 24 Rest of the world 60.2 61.6 60.3 60.5 80.5 116.9 129.7 110.9 134.5 142.7 24

 25 Inventory valuation adjustment (IVA) -18.3 3.1 14.1 15.7 -4.0 -16.8 8.0 6.1 -9.6 -39.5 25

 26 Capital consumption adjustment (CCAdj) 36.0 44.2 54.8 60.3 68.0 50.9 55.4 112.1 96.5 68.2 26

 27 Domestic nonfinancial 44.2 50.3 51.9 55.7 60.8 45.7 48.7 102.8 96.7 81.5 27

 28 Domestic financial -8.2 -6.1 2.9 4.6 7.2 5.2 6.7 9.3 -0.2 -13.3 28

 29 Net interest and miscellaneous payments 376.5 381.8 414.7 477.9 488.0 565.0 566.4 490.5 466.2 403.5 29

 30 Taxes on production and imports 557.9 580.8 611.6 639.5 673.6 708.6 727.7 762.6 808.0 863.9 30

 31 Less: Subsidies 34.8 35.2 33.8 36.4 45.2 45.8 58.7 41.4 49.1 46.4 31

 32 Business current transfer payments (net) 45.0 52.6 50.1 64.1 67.8 85.3 99.1 80.7 76.3 81.4 32

 33 To persons (net) 18.7 22.9 19.4 26.0 34.0 42.4 46.8 34.2 26.3 16.8 33

 34 To government (net) 24.9 30.7 29.8 34.3 36.5 41.9 43.9 46.2 48.3 52.4 34

 35 To rest of the world (net) 1.4 -1.0 0.8 3.8 -2.6 1.0 8.5 0.2 1.7 12.2 35

 36 Current surplus of government enterprises 15.6 16.9 17.5 16.3 16.2 10.7 5.2 7.0 3.9 -1.8 36

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 37 National Income, from line 1 above 6479.5 6899.4 7380.4 7857.3 8324.4 8907.0 9184.6 9436.8 9864.2 10540.9 37

 Plus:

 38 Private consumption of fixed capital 882.6 931.0 990.1 1054.9 1135.9 1236.6 1317.7 1368.0 1422.4 1509.3 38

 39 Government consumption of fixed capital 240.2 245.0 249.9 255.3 264.9 277.7 286.3 294.1 304.9 322.4 39

 40 Statistical discrepancy 90.6 56.6 12.3 -60.2 -37.5 -99.5 -115.0 -72.8 -13.6 -8.6 40

 Less:

 41 Net U.S. income receipts from rest of world 28.8 31.8 24.1 18.2 27.1 37.0 51.8 48.6 67.1 89.1 41

 Equals:

 42 Gross Domestic Product 7664.1 8100.2 8608.5 9089.2 9660.6 10284.8 10621.8 10977.5 11510.7 12274.9 42

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

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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4 Historical Annuals, 1995-2004, March 10, 2016

F.4 Saving and Investment by Sector (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 1429.5 1581.3 1783.6 1932.4 2003.6 2119.8 2068.5 1990.6 1991.1 2146.7 1

 2 Net saving 306.8 405.3 543.6 622.1 602.7 605.5 464.5 328.5 263.9 315.0 2

 3 Net private saving 579.2 596.3 633.1 604.0 526.8 439.1 515.3 719.9 788.2 822.6 3

 4 Domestic business 226.2 251.1 280.9 198.7 223.5 131.4 180.2 314.7 378.6 413.2 4

 5 Nonfinancial corporate business 211.4 245.3 267.5 211.0 221.3 161.7 138.1 213.4 273.2 312.7 5

 6 Financial business 14.8 5.8 13.4 -12.4 2.3 -30.3 42.1 101.3 105.5 100.5 6

 7 Households and institutions 352.9 345.2 352.2 405.3 303.3 307.7 335.2 405.3 409.6 409.4 7

 8 Net government saving -272.4 -191.0 -89.5 18.1 75.9 166.4 -50.8 -391.4 -524.3 -507.6 8

 9 Federal -240.8 -178.5 -91.2 2.7 66.6 156.5 14.5 -270.5 -402.9 -399.2 9

 10 State and local -31.5 -12.5 1.7 15.4 9.2 9.9 -65.3 -120.9 -121.4 -108.4 10

 11 Consumption of fixed capital 1122.8 1176.0 1240.0 1310.3 1400.9 1514.2 1604.0 1662.1 1727.2 1831.7 11

 12 Private 882.6 931.0 990.1 1054.9 1135.9 1236.6 1317.7 1368.0 1422.4 1509.3 12

 13 Domestic business 717.8 758.4 807.9 860.4 925.0 1006.5 1067.5 1101.4 1131.6 1185.9 13

 14 Nonfinancial corporate business 523.7 557.4 598.4 638.2 683.4 741.9 785.3 804.7 818.0 850.2 14

 15 Nonfinancial noncorporate business 120.6 124.9 130.0 136.7 145.4 156.3 166.6 174.6 183.6 196.4 15

 16 Financial business 73.5 76.1 79.6 85.5 96.2 108.3 115.6 122.1 130.0 139.3 16

 17 Households and institutions 164.8 172.7 182.1 194.5 210.9 230.1 250.2 266.6 290.8 323.4 17

 18 Government 240.2 245.0 249.9 255.3 264.9 277.7 286.3 294.1 304.9 322.4 18

 19 Federal 151.9 152.4 153.0 153.6 156.8 161.5 163.3 165.0 170.3 178.6 19

 20 State and local 88.3 92.6 96.9 101.8 108.1 116.2 123.0 129.0 134.5 143.8 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 1520.1 1637.9 1795.9 1872.2 1966.1 2020.3 1953.5 1917.8 1977.5 2138.1 21

 22 Gross domestic investment 1625.2 1752.0 1925.1 2076.7 2252.7 2424.0 2342.3 2368.6 2493.2 2765.1 22

 23 Gross private domestic investment 1317.5 1432.1 1595.6 1735.3 1884.2 2033.8 1928.6 1925.0 2028.0 2276.7 23

 24 Domestic business 999.2 1078.0 1215.1 1300.0 1410.2 1530.7 1393.8 1344.9 1374.1 1510.7 24

 25 Nonfinancial corporate business 760.0 804.0 922.8 972.3 1048.4 1146.0 1023.1 959.5 977.0 1060.4 25

 26 Nonfinancial noncorporate business 140.6 164.2 176.6 187.8 207.2 225.8 216.5 229.5 240.5 273.8 26

 27 Financial business 98.7 109.9 115.7 139.9 154.7 158.8 154.1 155.9 156.5 176.5 27

 28 Households and institutions 318.2 354.0 380.6 435.3 474.0 503.1 534.9 580.1 653.9 765.9 28

 29 Gross government investment 307.7 320.0 329.5 341.4 368.5 390.3 413.6 443.6 465.3 488.5 29

 30 Federal 147.7 149.8 143.7 147.7 154.9 157.4 163.8 180.3 196.4 211.0 30

 31 State and local 160.0 170.2 185.8 193.7 213.6 232.9 249.8 263.3 268.9 277.5 31

 32 Capital account transactions (net) (2) 0.4 0.2 0.5 0.2 4.5 0.3 -12.9 0.5 2.1 -2.8 32

 33 Private 21.2 21.9 30.0 30.8 29.3 27.6 15.5 18.1 2.5 -4.7 33

 34 Domestic business 7.1 3.4 7.9 4.3 -0.4 -1.2 -7.0 -2.7 -2.2 2.7 34

 35 Nonfinancial corporate business 5.5 3.4 7.9 4.3 -1.7 -1.2 -13.4 -2.7 -2.2 -8.5 35

 36 Nonfinancial noncorporate business -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 36

 37 Financial business 1.9 0.0 0.0 0.0 1.7 0.0 7.7 0.0 0.0 16.2 37

 38 Households and institutions 14.1 18.5 22.1 26.5 29.7 28.8 22.5 20.7 4.7 -7.4 38

 39 Government -20.8 -21.7 -29.5 -30.6 -24.8 -27.3 -28.5 -17.6 -0.3 1.9 39

 40 Federal 5.0 6.1 -0.2 -2.3 6.6 8.3 13.1 24.1 40.2 38.5 40

 41 State and local -25.8 -27.8 -29.4 -28.3 -31.4 -35.6 -41.6 -41.7 -40.5 -36.6 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -105.5 -114.3 -129.8 -204.7 -291.1 -404.1 -375.8 -451.3 -517.8 -624.2 42

 43 Private 213.6 129.9 9.8 -167.4 -288.2 -485.2 -226.1 72.1 166.5 51.3 43

 44 Domestic business 28.2 -15.5 -121.8 -305.4 -298.8 -491.0 -254.1 1.1 124.7 77.1 44

 45 Nonfinancial corporate business (3) 60.2 51.8 -52.4 -187.5 -179.5 -340.7 -201.2 -11.5 102.7 102.4 45

 46 Nonfinancial noncorporate business -19.6 -39.3 -46.7 -51.1 -61.4 -69.5 -48.6 -54.9 -56.9 -72.4 46

 47 Financial business -12.3 -28.0 -22.8 -66.8 -57.9 -80.8 -4.2 67.5 78.9 47.1 47

 48 Households and institutions 185.4 145.4 131.6 138.1 10.6 5.8 28.0 71.0 41.8 -25.8 48

 49 Government -319.1 -244.3 -139.6 -37.4 -2.8 81.1 -149.7 -523.4 -684.4 -675.5 49

 50 Federal -241.6 -182.0 -81.7 10.9 62.0 152.3 0.8 -309.9 -469.1 -470.1 50

 51 State and local -77.5 -62.2 -57.9 -48.3 -64.8 -71.2 -150.5 -213.5 -215.2 -205.4 51

 52 Statistical discrepancy (line 21 less line 1) 90.6 56.6 12.3 -60.2 -37.5 -99.5 -115.0 -72.8 -13.6 -8.6 52

 Addenda:

 53 Disaster losses 2.4 0.0 0.0 0.0 3.5 0.0 19.2 0.0 0.0 29.4 53

 54 Private 2.4 0.0 0.0 0.0 3.5 0.0 17.5 0.0 0.0 29.4 54

 55 Domestic business 1.2 0.0 0.0 0.0 2.2 0.0 15.5 0.0 0.0 17.4 55

 56 Households and institutions 1.2 0.0 0.0 0.0 1.3 0.0 2.0 0.0 0.0 12.0 56

 57 Government 0.0 0.0 0.0 0.0 0.0 0.0 1.7 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 1.7 0.0 0.0 0.0 59

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

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

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

(3) Differs from net lending or net borrowing (capital account) in the Integrated Macroeconomic Accounts of the United States by the statistical discrepancy (line 52).
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Historical Annuals, 1995-2004, March 10, 2016 5

F.5 Net Capital Transfers (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Capital transfers paid, by sector 49.9 51.5 56.2 61.3 75.0 72.7 103.0 82.3 91.0 119.7 1

 2 By private business 2.0 0.0 0.0 0.0 1.8 0.0 11.6 0.0 0.0 17.3 2

 3 Financial corporations 2.0 0.0 0.0 0.0 1.8 0.0 11.6 0.0 0.0 17.3 3

 4 Disaster-related insurance benefits 2.0 0.0 0.0 0.0 1.8 0.0 11.6 0.0 0.0 17.3 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 27.9 28.4 29.2 28.9 36.6 37.0 42.5 49.7 63.1 68.4 8

 9 Federal 27.9 28.4 29.2 28.9 36.6 37.0 42.5 49.7 63.1 64.0 9

 10 Investment grants to state and local govts. 27.3 28.2 28.8 28.7 32.1 36.7 42.3 45.5 46.0 46.8 10

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

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

 13 Other capital transfers paid to business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 13

 14 Other capital transfers paid to persons 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.6 14.8 16.1 14

 15 Capital transfers paid to rest of world (net) 0.6 0.2 0.4 0.2 4.5 0.4 0.3 0.6 2.2 0.9 15

 16 State and local 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.5 16

 17 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4.5 17

 18 By persons 20.0 23.1 27.0 32.4 36.7 35.6 35.7 32.6 28.0 30.3 18

 19 Estate and gift taxes, federal 14.9 17.5 20.6 25.2 28.8 28.1 28.0 25.3 22.0 24.6 19

 20 Estate and gift taxes, state and local 5.1 5.6 6.4 7.2 7.9 7.5 7.7 7.3 6.0 5.6 20

 21 By the rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 13.2 0.0 0.0 3.7 21

 22 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 13.2 0.0 0.0 3.7 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 49.9 51.5 56.2 61.3 75.0 72.7 103.0 82.3 91.0 119.7 24

 25 By private business 0.8 0.0 0.0 0.0 1.3 0.0 17.7 0.0 0.1 12.8 25

 26 Financial corporations 0.0 0.0 0.0 0.0 0.0 0.0 3.9 0.0 0.0 1.1 26

 27 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 3.9 0.0 0.0 1.1 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 0.4 0.0 0.0 0.0 0.9 0.0 12.5 0.0 0.1 6.7 29

 30 Disaster-related insurance benefits 0.4 0.0 0.0 0.0 0.9 0.0 12.5 0.0 0.0 6.5 30

 31 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 31

 32 Noncorporate business 0.4 0.0 0.0 0.0 0.4 0.0 1.3 0.0 0.0 5.0 32

 33 Disaster-related insurance benefits 0.4 0.0 0.0 0.0 0.4 0.0 1.3 0.0 0.0 5.0 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 47.3 51.3 55.8 61.1 68.8 72.3 79.7 78.2 73.9 77.1 35

 36 Federal 14.9 17.5 20.6 25.2 28.8 28.1 28.0 25.3 22.0 24.6 36

 37 Estate and gift taxes paid by persons 14.9 17.5 20.6 25.2 28.8 28.1 28.0 25.3 22.0 24.6 37

 38 State and local 32.4 33.8 35.2 35.9 40.0 44.2 51.7 52.9 52.0 52.4 38

 39 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.0 0.0 0.0 39

 40 Estate and gift taxes paid by persons 5.1 5.6 6.4 7.2 7.9 7.5 7.7 7.3 6.0 5.6 40

 41 Investment grants paid by federal government 27.3 28.2 28.8 28.7 32.1 36.7 42.3 45.5 46.0 46.8 41

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

 43 By persons 1.1 0.0 0.0 0.0 0.4 0.0 5.4 3.6 14.8 28.9 43

 44 Disaster-related insurance benefits 1.1 0.0 0.0 0.0 0.4 0.0 5.4 0.0 0.0 12.8 44

 45 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.6 14.8 16.1 45

 46 By the rest of the world 0.6 0.2 0.4 0.2 4.5 0.4 0.3 0.6 2.2 0.9 46

 47 Capital transfers paid by U.S. government 0.6 0.2 0.4 0.2 4.5 0.4 0.3 0.6 2.2 0.9 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) 1.1 0.0 0.0 0.0 0.4 0.0 -6.1 -0.0 -0.1 4.5 49

 50 Financial corporations (lines 3-26) 1.9 0.0 0.0 0.0 1.7 0.0 7.7 0.0 0.0 16.2 50

 51 Property-casualty insurance companies (line 4-27) 1.9 0.0 0.0 0.0 1.7 0.0 7.7 0.0 0.0 16.2 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) 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) -0.4 0.0 0.0 0.0 -0.9 0.0 -12.5 -0.0 -0.1 -6.7 58

 59 Noncorporate business (lines 7-32) -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 59

 60 By government (lines 8-35) -19.4 -22.9 -26.6 -32.1 -32.2 -35.3 -37.1 -28.5 -10.8 -8.6 60

 61 Federal (lines 9-36) 13.0 10.9 8.7 3.8 7.8 8.9 14.6 24.4 41.1 39.3 61

 62 State and local (lines 16-38) -32.4 -33.8 -35.2 -35.9 -40.0 -44.2 -51.7 -52.9 -52.0 -48.0 62

 63 By persons (lines 18-43) 18.9 23.1 27.0 32.4 36.3 35.6 30.3 29.1 13.1 1.4 63

 64 By the rest of the world (lines 21-46) -0.6 -0.2 -0.4 -0.2 -4.5 -0.4 12.9 -0.6 -2.2 2.8 64

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

(2) Sum of lines 53, 55, 56, and 57 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Financial Accounts of the United States.
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6 Historical Annuals, 1995-2004, March 10, 2016

F.6 Derivation of Measures of Personal Saving (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 660.8 702.5 677.4 927.9 828.0 587.0 717.8 749.6 1048.6 1596.8 1

 2 Foreign deposits 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.9 8.9 2

 3 Checkable deposits and currency -36.3 -22.5 -18.6 30.9 -14.7 -95.0 75.5 -13.2 -25.1 48.7 3

 4 Time and savings deposits 132.0 145.2 153.5 127.4 147.9 354.5 290.3 321.2 344.0 441.2 4

 5 Money market fund shares 101.2 30.7 74.1 105.8 110.2 176.5 173.3 -30.3 -111.6 -53.1 5

 6 Debt securities 4.9 68.6 -74.2 28.1 18.0 -77.2 -207.5 -14.5 -56.6 154.4 6

 7 Open market paper 2.0 4.1 1.3 3.0 4.7 12.4 -9.2 -5.9 -4.9 6.4 7

 8 Treasury securities -5.0 -8.9 -139.5 -64.9 1.7 -207.7 -86.8 -134.9 25.3 -5.4 8

 9 Agency- and GSE-backed securities 27.6 100.9 54.2 68.4 82.7 29.4 -139.1 -137.2 132.8 133.2 9

 10 Municipal securities -59.9 -40.0 22.1 0.4 28.5 6.0 57.4 83.4 15.1 120.2 10

 11 Corporate and foreign bonds 40.2 12.5 -12.4 21.1 -99.6 82.7 -30.0 180.2 -224.8 -99.9 11

 12 Loans 20.5 35.6 21.3 75.8 62.8 113.6 50.8 -52.8 84.7 131.9 12

 13 Corporate equities (2) -72.2 -157.0 -221.5 -285.7 -149.6 -640.3 -490.1 -182.6 -105.1 -274.9 13

 14 Mutual fund shares 50.0 156.7 180.4 172.2 97.9 79.4 130.5 79.7 261.4 180.0 14

 15 Life insurance reserves 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 15

 16 Pension entitlements 340.4 311.7 391.1 464.4 364.9 452.2 469.2 486.4 506.7 615.6 16

 17 Miscellaneous and other assets 69.7 76.7 105.4 161.0 134.6 165.4 148.0 92.3 78.9 311.0 17

 18 Gross investment in nonfinancial assets 1038.6 1134.6 1209.4 1337.2 1467.3 1590.6 1629.5 1722.9 1837.2 2035.7 18

 19 Residential fixed investment 320.9 354.9 371.5 414.7 457.0 479.9 507.3 551.5 630.0 742.0 19

 20 Nonresidential fixed investment 143.7 152.8 175.5 200.3 218.9 243.7 247.3 255.0 258.6 277.8 20

 21 Consumer durables 586.1 622.2 658.4 721.6 794.5 869.6 886.7 924.6 954.8 1011.2 21

 22 Nonproduced nonfinancial assets -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 22

 23 Inventories -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 23

 24 Consumption of fixed capital 777.2 809.7 843.1 885.4 937.7 1009.9 1073.7 1129.2 1192.9 1280.2 24

 25 Residential fixed investment 165.4 173.6 182.6 194.1 208.9 226.4 245.5 260.4 283.4 315.7 25

 26 Nonresidential fixed investment 120.1 124.1 129.6 137.2 147.7 160.6 172.2 183.0 194.4 208.2 26

 27 Consumer durables 491.6 512.0 530.9 554.0 581.1 622.9 656.0 685.8 715.2 756.3 27

 28 Net investment in nonfinancial assets (3) 261.5 324.9 366.4 451.9 529.7 580.7 555.7 593.7 644.3 755.5 28

 29 Residential fixed investment 155.5 181.3 188.9 220.5 248.0 253.4 261.8 291.1 346.6 426.3 29

 30 Nonresidential fixed investment 23.6 28.7 46.0 63.0 71.2 83.2 75.1 72.0 64.2 69.5 30

 31 Consumer durables 94.5 110.2 127.6 167.6 213.4 246.7 230.7 238.8 239.7 254.8 31

 32 Nonproduced nonfinancial assets -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 32

 33 Inventories -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 33

 34 Net increase in liabilities 404.8 483.7 547.5 746.9 866.8 917.1 843.0 981.7 1115.2 1506.7 34

 35 Home mortgages 167.6 222.1 234.3 355.2 425.4 423.0 551.0 755.5 812.4 1017.5 35

 36 Other mortgages 14.5 27.3 35.6 103.9 94.5 106.7 89.6 88.3 130.1 142.8 36

 37 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 37

 38 Other loans and advances 4.3 29.7 37.4 21.2 70.4 8.5 -37.9 -48.0 32.8 81.8 38

 39 Other liabilities 71.5 98.9 169.9 169.5 164.2 202.2 89.7 80.8 34.0 147.4 39

 40 Net capital transfers paid (4) 18.6 23.1 27.0 32.4 35.9 35.6 29.0 29.1 13.1 -3.7 40

 41 Personal saving, FOF concept (FOF) 535.9 566.8 523.3 665.3 526.7 286.3 459.6 390.6 590.8 841.8 41

 42 - Net investment in consumer durables 94.5 110.2 127.6 167.6 213.4 246.7 230.7 238.8 239.7 254.8 42

 43 - Government insurance and pension fund reserves (5) 2.7 2.9 1.7 3.1 2.4 0.2 1.7 -3.4 -1.9 -1.4 43

 44 + Contr. for govt. soc. insur., U.S.-affiliated areas 2.7 2.8 3.0 3.1 3.3 3.6 3.7 3.8 3.9 4.4 44

 45 = Personal saving, NIPA concept (FOF) (6) 441.4 456.5 397.0 497.7 314.3 43.0 231.0 159.0 356.9 592.8 45

 46 Personal saving, NIPA concept (NIPA) 352.9 345.2 352.2 405.3 303.3 307.7 335.2 405.3 409.6 409.4 46

 47 Difference 88.4 111.3 44.9 92.4 11.0 -264.7 -104.2 -246.2 -52.6 183.4 47

 Memo:

 48 Disposable personal income 5532.6 5829.9 6148.8 6561.3 6876.3 7400.5 7752.3 8099.2 8485.8 9002.3 48

 Personal saving as a percentage of disposable personal income:

 49 FOF concept (FOF data) (line 41) 9.69 9.72 8.51 10.14 7.66 3.87 5.93 4.82 6.96 9.35 49

 50 NIPA concept (FOF data) (line 44) 7.98 7.83 6.46 7.59 4.57 0.58 2.98 1.96 4.21 6.58 50

 51 NIPA concept (NIPA data) (line 45) 6.38 5.92 5.73 6.18 4.41 4.16 4.32 5.00 4.83 4.55 51

 52 Difference (line 46) 1.60 1.91 0.73 1.41 0.16 -3.58 -1.34 -3.04 -0.62 2.04 52

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

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

(3) Line 18 less line 24.

(4) Table F.5, line 59 plus line 63.

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

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

 including contributions for government social insurance to U.S.-affiliated areas, plus net investment in nonfinancial assets net of consumer durables (line 28 less line 42) less net increase in liabilities (line 34)

 plus net capital transfers paid (line 40). Personal savings, NIPA concept (NIPA) (line 46) is disposable personal income (line 48) less personal outlays (table F.101, line 4).
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Historical Annuals, 1995-2004, March 10, 2016 7

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 19858.3 21392.0 24212.8 27353.5 31380.9 30468.9 29987.7 28474.4 32515.4 36696.6 1

 2 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.8 61.8 2

 3 Checkable deposits and currency 706.3 683.8 665.2 696.1 681.4 586.3 661.9 648.6 648.6 697.3 3

 4 Time and savings deposits 2416.8 2561.9 2708.7 2832.7 2987.4 3319.1 3609.4 3927.1 4329.6 4783.8 4

 5 Money market fund shares 489.5 520.2 594.2 700.0 810.2 986.7 1160.0 1129.7 1018.1 965.0 5

 6 Debt securities 2300.8 2445.5 2387.6 2422.3 2529.3 2412.2 2187.9 2198.1 2370.4 3281.2 6

 7 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 7

 8 Treasury securities 860.3 916.9 829.2 770.0 846.6 618.3 477.1 312.8 462.4 523.8 8

 9 Agency- and GSE-backed securities 216.3 332.6 390.3 441.5 540.5 587.9 385.0 241.5 376.7 443.8 9

 10 Municipal securities 535.6 495.6 500.8 501.2 529.6 534.0 591.4 674.8 689.9 1527.2 10

 11 Corporate and foreign bonds 616.9 624.5 590.1 629.5 527.8 574.7 646.3 886.8 764.1 702.6 11

 12 Loans 280.8 316.5 337.8 413.5 476.4 590.0 640.8 588.0 672.7 804.6 12

 13 Other loans and advances 145.5 190.0 220.0 292.5 350.3 462.6 504.8 444.6 524.2 641.1 13

 14 Mortgages 135.3 126.5 117.8 121.0 126.1 127.4 136.0 143.3 148.5 163.5 14

 15 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Corporate equities (2) 4434.2 4667.7 6043.7 7389.5 9465.6 7821.9 6704.4 5072.6 6662.9 7352.8 16

 17 Mutual fund shares 1253.0 1561.9 1873.1 2253.2 2763.7 2585.4 2499.2 2122.2 2790.6 3288.9 17

 18 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 18

 19 Pension entitlements 6717.2 7240.7 8045.3 8872.4 9689.0 9980.7 10130.5 10246.5 11295.6 12426.5 19

 20 Life insurance companies 890.1 972.4 1007.1 1145.8 1288.2 1332.0 1349.2 1385.8 1523.6 1704.0 20

 21 Private pension funds 2802.0 3056.8 3486.8 3904.9 4286.7 4326.5 4223.0 4075.8 4615.6 5029.7 21

 22 Governments 3025.0 3211.5 3551.5 3821.7 4114.1 4322.2 4558.3 4784.9 5156.4 5692.8 22

 23 Miscellaneous and other assets 670.3 747.8 855.1 1017.6 1153.3 1319.0 1464.9 1570.7 1661.0 1974.4 23

 24 Total liabilities 6561.3 7058.9 7605.7 8352.0 9218.4 10145.0 10988.1 11970.1 13114.8 14641.5 24

 25 Home mortgages 3438.5 3673.6 3907.9 4263.1 4686.2 5108.0 5659.0 6414.4 7236.5 8268.9 25

 26 Other mortgages 852.2 879.5 915.1 1019.0 1113.5 1220.2 1309.8 1398.0 1528.2 1671.0 26

 27 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 27

 28 Other loans and advances 187.0 216.7 254.1 275.3 345.7 354.3 316.4 268.4 301.2 383.0 28

 29 Other liabilities 915.4 1015.2 1184.4 1353.3 1519.4 1721.3 1811.1 1892.3 1946.0 2098.5 29

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 17), life insurance reserves (line 18), and pension entitlements (line 19).
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8 Historical Annuals, 1995-2004, March 10, 2016

F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid 1925.6 2118.2 2345.6 2576.2 2691.7 2906.4 2815.4 2688.0 2706.3 2933.7 1

 2 Gross investment 2139.1 2304.1 2471.5 2767.2 2862.5 2911.8 2923.3 2429.7 2543.7 3212.8 2

 3 Capital expenditures 2109.6 2259.9 2456.7 2647.0 2890.6 3130.9 3070.7 3132.6 3291.7 3594.2 3

 4 Consumer durables 586.1 622.2 658.4 721.6 794.5 869.6 886.7 924.6 954.8 1011.2 4

 5 Fixed residential investment 325.7 352.4 370.2 413.3 466.3 487.4 515.7 560.4 645.2 752.1 5

 6 Fixed nonresidential investment 1166.9 1254.5 1357.0 1448.4 1569.1 1719.4 1706.6 1629.2 1672.4 1767.1 6

 7 Inventory change 31.2 30.8 70.9 63.7 60.8 54.5 -38.3 18.5 19.3 63.9 7

 8 Nonproduced nonfinancial assets -0.2 0.0 0.1 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.0 8

 9 Net lending (+) or net borrowing (-) 29.4 44.1 14.8 120.1 -28.1 -219.0 -147.4 -702.9 -747.9 -381.4 9

 10 Net acqisition of financial assets 1065.9 1184.1 1018.1 1601.4 1897.3 1778.0 1030.8 900.2 1272.4 2629.4 10

 11 U.S. official reserve assets 6.4 -2.9 2.5 6.0 -7.1 -0.7 4.6 3.4 -1.8 -3.1 11

 12 Foreign deposits 6.3 23.2 1.5 7.9 3.9 0.2 -8.1 6.3 20.5 24.5 12

 13 Checkable deposits and currency -28.3 -34.7 -26.1 -5.6 85.0 -125.0 66.8 -37.6 35.1 17.3 13

 14 Time and savings deposits 142.2 187.1 195.0 171.7 207.0 401.7 315.2 357.2 410.1 486.8 14

 15 Money market fund shares 128.9 66.7 101.9 179.7 149.7 196.4 276.7 -23.1 -137.2 -29.9 15

 16 Security repurchase agreements -2.7 33.6 4.2 3.8 -0.9 -11.9 -11.1 -14.2 1.4 7.7 16

 17 Debt securities -98.5 31.7 -117.6 132.8 120.5 13.6 -112.1 98.3 -23.3 267.7 17

 18 Open market paper 20.4 35.8 20.2 19.1 30.4 37.8 10.7 13.0 5.3 28.7 18

 19 Treasury securities -78.9 -51.7 -177.4 -26.7 21.3 -203.5 -69.6 -94.2 34.6 38.4 19

 20 Agency- and GSE-backed securities -4.0 70.7 33.0 109.7 128.7 73.8 -89.6 -96.2 139.0 170.7 20

 21 Municipal securities -83.3 -46.3 17.7 -1.9 28.0 13.1 55.1 86.3 18.8 117.7 21

 22 Corporate and foreign bonds 47.3 23.2 -11.1 32.5 -88.0 92.5 -18.7 189.3 -221.0 -87.9 22

 23 Loans -0.9 32.5 68.8 69.4 42.4 128.1 48.5 -45.5 73.7 164.3 23

 24 Other loans and advances 16.3 47.1 35.9 70.0 50.7 109.6 34.3 -60.7 77.7 113.9 24

 25 Mortgages -17.9 -15.8 16.3 -4.5 -16.6 1.4 9.8 5.4 9.8 46.5 25

 26 Consumer credit 0.8 1.2 16.6 3.8 8.2 17.0 4.4 9.8 -13.9 3.9 26

 27 Corporate equities -60.0 -142.5 -204.7 -294.6 -171.2 -634.1 -486.0 -172.3 -113.1 -269.5 27

 28 Mutual fund shares 51.1 165.1 164.0 173.6 99.6 80.9 135.2 81.6 265.5 182.2 28

 29 Trade receivables 97.7 124.2 126.2 124.1 261.9 361.4 -106.2 -80.2 -25.7 174.5 29

 30 Life insurance reserves 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 30

 31 Pension entitlements 340.4 311.7 391.1 464.4 364.9 452.2 469.2 486.4 506.7 615.6 31

 32 Taxes payable -7.0 2.0 -6.1 -4.3 11.1 -11.4 -6.8 -1.2 35.2 36.1 32

 33 Equity in noncorporate business 18.9 -3.0 -19.1 -37.1 -68.0 -19.5 -19.9 -71.4 54.0 70.5 33

 34 U.S. direct investment abroad 90.3 76.8 84.3 129.2 200.7 138.0 123.8 131.1 125.3 272.4 34

 35 Miscellaneous assets 335.2 268.2 192.9 432.9 544.8 757.9 263.7 119.0 -22.4 579.4 35

 36 Net increase in liabilities 1036.4 1139.9 1003.3 1481.3 1925.4 1997.0 1178.2 1603.2 2020.3 3010.8 36

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

 38 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 38

 39 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 39

 40 Debt securities 191.4 280.3 261.6 304.7 268.5 -52.1 388.2 465.9 594.4 609.5 40

 41 Open market paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 41

 42 Treasury securities 163.8 201.6 63.5 -13.4 -29.9 -274.0 55.8 281.6 423.1 403.5 42

 43 Agency- and GSE-backed securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 43

 44 Municipal securities -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 203.7 44

 45 Corporate and foreign bonds 65.7 87.7 127.5 207.5 206.9 151.2 293.4 82.3 73.5 -12.3 45

 46 Loans 473.6 472.1 577.4 742.8 855.0 926.6 714.6 886.6 1056.4 1521.2 46

 47 Depository institution loans n.e.c. 107.3 62.9 111.7 98.6 72.3 101.2 -77.7 -103.7 -73.0 16.9 47

 48 Other loans and advances 38.2 43.5 96.9 87.2 102.9 94.2 -39.2 -12.9 39.6 134.4 48

 49 Mortgages 181.1 260.0 298.6 459.8 567.4 554.6 681.0 898.0 983.9 1252.8 49

 50 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 50

 51 Corporate equities -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 51

 52 Trade payables 115.5 108.9 117.4 109.9 240.2 388.6 -80.0 93.6 24.4 183.2 52

 53 Life insurance reserves 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 53

 54 Taxes payable 0.5 11.9 13.6 9.0 15.9 18.6 7.1 13.4 -12.2 15.1 54

 55 Equity in noncorporate business 19.4 -3.3 -20.2 -35.7 -69.2 -19.3 -16.7 -72.0 57.4 74.6 55

 56 Foreign direct investment in U.S. 54.8 71.8 99.5 145.0 183.8 249.5 141.3 74.8 39.9 95.8 56

 57 Miscellaneous liabilities 235.6 244.9 29.8 419.3 542.2 603.6 69.1 162.6 283.8 603.0 57

 58 Discrepancy -213.4 -185.9 -125.9 -190.9 -170.8 -5.5 -107.9 258.3 162.6 -279.1 58

(1) Sum of domestic nonfinancial sectors shown on tables F.101 through F.107.
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Historical Annuals, 1995-2004, March 10, 2016 9

F.101 Households and Nonprofit Organizations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Personal income 6281.0 6667.0 7080.7 7593.7 7988.4 8637.1 8991.6 9153.9 9491.1 10052.9 1

 2 - Personal current taxes 748.4 837.1 931.8 1032.4 1112.1 1236.6 1239.3 1054.7 1005.3 1050.6 2

 3 = Disposable personal income 5532.6 5829.9 6148.8 6561.3 6876.3 7400.5 7752.3 8099.2 8485.8 9002.3 3

 4 - Personal outlays 5179.6 5484.7 5796.7 6156.0 6573.0 7092.8 7417.1 7693.9 8076.2 8592.9 4

 5 = Personal saving, NIPA (2) 352.9 345.2 352.2 405.3 303.3 307.7 335.2 405.3 409.6 409.4 5

 6 + Government insurance and pension reserves (3) 2.7 2.9 1.7 3.1 2.4 0.2 1.7 -3.4 -1.9 -1.4 6

 7 - Contr. for govt. soc. insur., U.S.-affiliated areas 2.7 2.8 3.0 3.1 3.3 3.6 3.7 3.8 3.9 4.4 7

 8 + Net investment in consumer durables 94.5 110.2 127.6 167.6 213.4 246.7 230.7 238.8 239.7 254.8 8

 9 + Consumption of fixed capital 654.8 683.0 711.2 746.6 789.9 850.6 903.7 949.9 1003.4 1077.1 9

 10 - Net capital transfers paid (4) 18.9 23.1 27.0 32.4 36.3 35.6 30.3 29.1 13.1 1.4 10

 11 = Gross saving less net capital transfers paid 1083.4 1115.4 1162.6 1287.1 1269.4 1366.0 1437.2 1557.7 1633.7 1734.2 11

 12 Gross investment 1171.8 1226.7 1207.5 1379.5 1280.4 1101.2 1333.0 1311.5 1581.1 1917.6 12

 13 Capital expenditures 899.6 971.6 1034.2 1151.0 1261.9 1365.9 1413.7 1496.4 1600.2 1768.4 13

 14 Consumer durable goods 586.1 622.2 658.4 721.6 794.5 869.6 886.7 924.6 954.8 1011.2 14

 15 Residential 266.6 299.2 312.5 355.0 388.2 408.2 435.7 473.9 541.9 643.9 15

 16 Nonprofit nonresidential 51.6 54.8 68.1 80.3 85.8 94.9 99.1 106.2 112.0 122.1 16

 17 Nonproduced nonfinancial assets -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 17

 18 Net lending (+) or net borrowing (-) 272.3 255.0 173.3 228.5 18.5 -264.6 -80.8 -184.9 -19.2 149.2 18

 19 Net acquisition of financial assets 603.9 604.5 526.2 669.6 573.8 320.9 544.3 599.0 1025.5 1300.6 19

 20 Foreign deposits 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.9 8.9 20

 21 Checkable deposits and currency -49.9 -41.7 -40.9 24.8 -19.8 -103.5 74.7 -16.0 -31.2 -58.2 21

 22 Time and savings deposits 127.7 141.6 142.8 86.7 94.9 286.5 283.1 306.7 299.3 454.4 22

 23 Money market fund shares 99.3 28.5 70.4 96.1 102.0 167.9 163.7 -32.7 -113.9 -56.0 23

 24 Debt securities -1.0 63.2 -78.5 22.7 18.9 -79.9 -211.3 -14.3 -57.9 147.4 24

 25 Open market paper 2.0 4.1 1.3 3.0 4.7 12.4 -9.2 -5.9 -4.9 6.4 25

 26 Treasury securities -10.3 -13.8 -143.1 -70.6 2.5 -210.7 -89.5 -134.9 23.2 -10.7 26

 27 Agency- and GSE-backed securities 27.6 100.9 54.2 68.4 82.7 29.4 -139.1 -137.2 132.8 133.2 27

 28 Municipal securities -60.5 -40.5 21.5 0.8 28.6 6.2 56.4 83.6 15.8 118.5 28

 29 Corporate and foreign bonds 40.2 12.5 -12.4 21.1 -99.6 82.7 -30.0 180.2 -224.8 -99.9 29

 30 Loans 22.5 37.0 22.9 68.2 65.1 114.3 47.4 -52.2 84.6 127.4 30

 31 Other loans and advances (5) 29.8 44.5 30.0 72.5 57.8 112.4 42.1 -60.1 79.6 117.0 31

 32 Mortgages -7.2 -7.5 -7.1 -4.3 7.3 1.9 5.3 7.9 5.1 10.4 32

 33 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Corporate equities (6) -72.2 -157.0 -221.5 -285.7 -149.6 -640.3 -490.1 -182.6 -105.1 -274.9 34

 35 Mutual fund shares 50.0 156.7 180.4 172.2 97.9 79.4 130.5 79.7 261.4 180.0 35

 36 Life insurance reserves 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 36

 37 Pension entitlements (7) 340.4 311.7 391.1 464.4 364.9 452.2 469.2 486.4 506.7 615.6 37

 38 Equity in noncorporate business 18.9 -3.0 -19.1 -37.1 -68.0 -19.5 -19.9 -71.4 54.0 70.5 38

 39 Miscellaneous assets 17.6 10.6 12.7 9.2 11.4 6.1 19.0 31.8 56.4 52.5 39

 40 Net increase in liabilities 331.6 349.4 352.8 441.2 555.3 585.6 625.1 783.9 1044.7 1151.4 40

 41 Debt securities (municipal securities) 0.2 6.1 7.1 11.8 10.4 5.8 13.8 12.6 13.8 14.7 41

 42 Loans 322.8 334.5 336.5 422.1 538.6 575.9 613.5 751.4 1025.2 1118.7 42

 43 Home mortgages (8) 153.6 205.1 215.9 301.5 379.2 383.5 508.2 706.0 872.1 934.7 43

 44 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 44

 45 Depository institution loans n.e.c. (9) 18.5 -10.1 9.8 -7.6 -25.9 -4.4 -16.1 -24.0 8.0 -20.0 45

 46 Other loans and advances 4.3 29.7 37.4 21.2 70.4 8.5 -37.9 -48.0 32.8 81.8 46

 47 Commercial mortgages -0.6 4.1 3.1 9.9 2.5 11.6 8.8 12.2 6.3 5.0 47

 48 Trade payables 7.9 8.0 8.9 8.7 4.1 3.8 -1.9 19.1 4.8 16.5 48

 49 Deferred and unpaid life insurance premiums 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 49

 50 Discrepancy -88.4 -111.3 -44.9 -92.4 -11.0 264.7 104.2 246.2 52.6 -183.4 50

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

 outstandings of nonprofit organizations.

(2) See table F.6 for derivation of alternative measures of personal saving.

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

(4) Table F.5, line 63.

(5) Includes cash accounts at brokers and dealers and syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(6) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 35) and life insurance reserves (line 36), and pension entitlements (line 37).

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

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

(9) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table F.109, line 21.
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10 Historical Annuals, 1995-2004, March 10, 2016

F.102 Nonfinancial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Income before taxes 997.1 1100.5 1182.1 1199.2 1257.9 1275.8 1234.8 1301.5 1469.0 1737.4 1

 2 Gross saving less net capital transfers paid 857.8 928.8 997.7 986.6 1051.7 1061.3 1107.4 1195.8 1279.3 1374.7 2

 3 Gross investment 920.1 980.5 1032.5 1056.1 1172.1 1266.9 1268.0 1184.9 1240.9 1432.7 3

 4 Capital expenditures 903.8 967.1 1095.9 1153.0 1252.9 1366.8 1234.7 1181.7 1215.7 1326.9 4

 5 Fixed investment 866.7 932.9 1017.1 1085.0 1192.9 1313.4 1273.8 1165.9 1198.5 1264.8 5

 6 Residential 54.7 54.4 51.8 52.4 71.7 73.4 73.2 79.1 95.3 100.3 6

 7 Nonresidential 811.9 878.5 965.3 1032.7 1121.2 1240.0 1200.6 1086.8 1103.2 1164.5 7

 8 Change in inventories 31.2 30.8 70.9 63.7 60.8 54.5 -38.3 18.5 19.3 63.9 8

 9 Nonproduced nonfinancial assets 5.9 3.4 7.9 4.3 -0.8 -1.2 -0.9 -2.7 -2.1 -1.8 9

 10 Net lending (+) or net borrowing (-) 16.3 13.4 -63.5 -96.9 -80.8 -99.9 33.4 3.1 25.2 105.8 10

 11 Net acquisition of financial assets 501.0 544.3 396.0 791.1 1150.6 1450.6 332.5 217.3 166.6 1149.9 11

 12 Foreign deposits 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 12

 13 Checkable deposits and currency 18.1 1.5 11.0 -9.8 34.7 43.5 -53.0 -9.6 50.1 109.9 13

 14 Time and savings deposits 7.6 33.5 45.4 69.0 97.3 103.5 15.9 24.6 116.1 24.5 14

 15 Money market fund shares 24.8 36.9 27.9 52.6 43.2 25.8 109.7 8.0 -28.1 13.2 15

 16 Security repurchase agreements 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 16

 17 Debt securities -2.9 6.0 -35.6 6.5 4.1 21.5 4.4 21.1 12.2 23.1 17

 18 Commercial paper 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 18

 19 Treasury securities 11.6 -5.1 -16.6 2.5 -5.0 1.7 1.4 14.5 4.4 5.6 19

 20 Agency- and GSE-backed securities 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -5.7 0.1 20

 21 Municipal securities -19.3 -5.4 -3.1 -2.0 -0.9 6.7 -1.5 2.7 2.6 -1.9 21

 22 Loans -2.0 -12.2 30.9 -10.5 -31.5 7.0 -2.0 4.0 -13.4 19.5 22

 23 Mortgages -0.5 -4.9 24.3 -5.4 -28.2 1.7 6.5 2.3 2.3 19.4 23

 24 Consumer credit -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.7 -15.7 0.1 24

 25 Mutual fund shares 4.6 9.1 1.7 14.6 9.8 0.3 4.3 -0.2 5.8 -1.3 25

 26 Trade receivables 93.3 117.6 123.1 115.5 248.6 351.2 -119.5 -79.5 -42.9 155.5 26

 27 U.S. direct investment abroad 90.3 76.8 84.3 129.2 200.7 138.0 123.8 131.1 125.3 272.4 27

 28 Miscellaneous assets 265.1 262.8 111.6 417.1 541.1 768.8 257.7 110.4 -75.8 517.0 28

 29 Net increase in liabilities 484.7 530.9 459.5 888.0 1231.4 1550.5 299.2 214.1 141.4 1044.0 29

 30 Debt securities 86.9 89.9 145.4 237.7 249.3 200.6 213.8 27.3 39.5 13.5 30

 31 Commercial paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 31

 32 Municipal securities 3.1 3.1 4.2 5.8 5.1 1.4 3.5 2.9 3.3 10.6 32

 33 Corporate bonds 65.7 87.7 127.5 207.5 206.9 151.2 293.4 82.3 73.5 -12.3 33

 34 Loans 150.7 142.4 235.8 320.6 318.0 350.4 101.0 134.6 31.2 402.2 34

 35 Depository institution loans n.e.c. 88.8 73.0 101.8 106.2 98.2 105.6 -61.6 -79.7 -81.0 36.9 35

 36 Other loans and advances 33.9 18.6 54.3 65.9 34.2 85.3 -1.5 34.5 6.7 52.3 36

 37 Mortgages 28.0 50.8 79.6 148.5 185.7 159.5 164.0 179.9 105.5 313.1 37

 38 Corporate equities -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 38

 39 Trade payables 94.9 81.5 97.2 88.0 213.0 354.1 -108.4 45.1 -80.9 121.4 39

 40 Taxes payable 0.5 11.9 13.6 9.0 15.9 18.6 7.1 13.4 -12.2 15.1 40

 41 Foreign direct investment in U.S. 54.8 71.8 99.5 145.0 183.8 249.5 141.3 74.8 39.9 95.8 41

 42 Miscellaneous liabilities 135.8 184.0 -34.4 339.0 430.9 514.9 9.1 15.1 92.0 414.8 42

 43 Proprietors’ net investment 19.4 -3.3 -20.2 -35.7 -69.2 -19.3 -16.7 -72.0 57.4 74.6 43

 44 Discrepancy -62.3 -51.7 -34.8 -69.6 -120.4 -205.6 -160.6 10.9 38.4 -58.0 44

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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Historical Annuals, 1995-2004, March 10, 2016 11

F.103 Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Profits before tax (book) 452.0 488.9 527.1 486.4 489.6 451.2 325.3 359.5 496.3 700.2 1

 2 - Taxes on corporate income 140.3 152.9 161.4 158.7 171.4 170.2 111.2 97.1 132.9 187.0 2

 3 - Net dividends 178.0 197.6 215.9 241.0 224.7 251.3 245.4 254.8 293.4 364.5 3

 4 + Capital consumption allowance (1) 566.6 606.4 649.1 692.3 742.6 785.9 832.4 905.9 913.6 930.2 4

 5 = U.S. internal funds, book 700.2 744.9 798.9 779.0 836.1 815.6 801.0 913.5 983.7 1078.9 5

 6 + Foreign earnings retained abroad 52.7 54.1 52.8 53.0 70.4 103.2 114.5 96.8 115.5 120.4 6

 7 + Inventory valuation adjustment (IVA) -18.3 3.1 14.1 15.7 -4.0 -16.8 8.0 6.1 -9.6 -39.5 7

 8 - Net capital transfers paid (2) -0.4 0.0 0.0 0.0 -0.9 0.0 -12.5 -0.0 -0.1 -6.7 8

 9 = Total internal funds + IVA 735.1 802.0 865.8 847.8 903.5 902.0 936.0 1016.4 1089.7 1166.5 9

 10 Gross investment 797.4 853.8 900.6 917.4 1023.9 1107.6 1096.7 1005.5 1051.4 1224.6 10

 11 Capital expenditures 764.7 804.2 920.7 966.8 1047.4 1142.1 1019.0 955.2 978.7 1059.6 11

 12 Fixed investment (3) 720.3 779.2 850.6 905.4 991.1 1092.9 1054.1 939.5 963.7 1011.0 12

 13 Inventory change + IVA 38.5 21.5 62.2 57.2 57.2 50.3 -34.3 18.3 17.1 50.3 13

 14 Nonproduced nonfinancial assets 5.9 3.4 7.9 4.3 -0.8 -1.2 -0.9 -2.7 -2.1 -1.8 14

 15 Net lending (+) or net borrowing (-) 32.7 49.6 -20.1 -49.5 -23.5 -34.5 77.7 50.3 72.7 165.0 15

 16 Net acquisition of financial assets 424.7 449.5 265.0 568.4 965.5 1203.9 175.7 138.6 86.1 779.1 16

 17 Foreign deposits 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 17

 18 Checkable deposits and currency 4.6 -17.6 -11.3 -15.9 29.6 35.0 -53.8 -12.3 44.0 3.0 18

 19 Time and savings deposits 3.3 30.0 34.7 28.2 44.3 35.5 8.8 10.2 71.5 37.7 19

 20 Money market fund shares 22.9 34.7 24.2 42.9 35.1 17.1 100.2 5.7 -30.4 10.3 20

 21 Security repurchase agreements 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 21

 22 Debt securities -8.8 0.7 -39.8 1.1 5.0 18.8 0.7 21.3 10.8 16.2 22

 23 Commercial paper 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 23

 24 Treasury securities 6.3 -10.0 -20.2 -3.2 -4.2 -1.3 -1.3 14.5 2.3 0.3 24

 25 Agency- and GSE-backed securities 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -5.7 0.1 25

 26 Municipal securities -19.9 -5.8 -3.6 -1.6 -0.7 6.9 -2.6 2.8 3.3 -3.6 26

 27 Loans 0.0 -10.9 32.6 -18.0 -29.3 7.7 -5.3 4.7 -13.5 15.0 27

 28 Mortgages 1.6 -3.6 25.9 -13.0 -26.0 2.3 3.1 2.9 2.2 14.8 28

 29 Consumer credit -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.7 -15.7 0.1 29

 30 Mutual fund shares 4.6 9.1 1.7 14.6 9.8 0.3 4.3 -0.2 5.8 -1.3 30

 31 Trade receivables 78.0 88.1 88.0 87.3 209.2 281.6 -121.3 -98.4 -17.7 128.9 31

 32 U.S. direct investment abroad (4) 90.3 76.8 84.3 129.2 200.7 138.0 123.8 131.1 125.3 272.4 32

 33 Miscellaneous assets 227.8 226.5 55.0 292.1 458.6 678.8 127.2 69.4 -126.9 281.0 33

 34 Insurance receivables 8.5 2.8 2.1 2.3 1.4 0.0 10.8 18.1 19.0 19.7 34

 35 Equity in GSEs 0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 35

 36 Investment in finance co. subs. 5.9 0.6 4.9 -10.0 10.6 65.2 -17.8 6.9 2.6 2.6 36

 37 Other 213.4 223.1 47.9 299.8 446.6 613.6 134.1 44.4 -148.7 258.6 37

 38 Net increase in liabilities 392.1 399.9 285.1 617.9 989.1 1238.3 97.9 88.3 13.4 614.1 38

 39 Debt securities 86.9 89.9 145.4 237.7 249.3 200.6 213.8 27.3 39.5 13.5 39

 40 Commercial paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 40

 41 Municipal securities (5) 3.1 3.1 4.2 5.8 5.1 1.4 3.5 2.9 3.3 10.6 41

 42 Corporate bonds (4) 65.7 87.7 127.5 207.5 206.9 151.2 293.4 82.3 73.5 -12.3 42

 43 Loans 105.3 72.0 133.9 141.5 124.2 157.9 -62.5 -17.2 -42.7 147.5 43

 44 Depository institution loans n.e.c. 77.3 43.8 55.1 80.7 48.6 55.2 -105.1 -103.4 -91.4 4.0 44

 45 Other loans and advances (6) 28.9 17.6 50.1 60.1 28.1 77.8 2.1 31.9 7.3 51.1 45

 46 Mortgages -1.0 10.6 28.7 0.8 47.5 24.9 40.5 54.3 41.4 92.5 46

 47 Corporate equities -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 47

 48 Trade payables 81.2 49.7 65.3 57.7 178.5 312.6 -103.6 19.8 -54.7 97.7 48

 49 Taxes payable -0.0 9.6 9.3 4.8 7.0 7.0 3.1 11.9 -11.7 6.8 49

 50 Foreign direct investment in U.S. 54.9 71.5 99.0 144.9 183.1 249.5 141.4 74.4 40.0 96.0 50

 51 Miscellaneous liabilities 122.2 154.6 -90.4 246.8 357.3 428.9 -46.1 -3.7 68.7 346.1 51

 52 Pension fund contributions payable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 52

 53 Claims of pension fund on sponsor 79.7 83.0 95.8 96.5 115.3 117.9 126.9 80.8 56.6 84.3 53

 54 Other 37.1 66.1 -194.6 137.5 260.4 330.1 -148.4 -86.0 12.3 264.8 54

 55 Discrepancy -62.3 -51.7 -34.8 -69.6 -120.4 -205.6 -160.6 10.9 38.4 -58.0 55

 Memo:

 56 Financing gap (7) 82.8 56.2 107.7 172.1 215.2 343.3 209.9 35.6 4.6 20.1 56

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

(2) Table F.5, line 58.

(3) Nonresidential fixed investment plus residential fixed investment, shown in table F.2, lines 10 and 15 respectively.

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

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

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

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
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12 Historical Annuals, 1995-2004, March 10, 2016

F.104 Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving = consumption of fixed capital 122.4 126.7 131.9 138.8 147.8 159.3 170.0 179.3 189.5 203.1 1

 2 Gross saving less net capital transfers paid (1) 122.7 126.7 131.9 138.8 148.2 159.3 171.4 179.3 189.5 208.2 2

 3 Gross investment 122.7 126.7 131.9 138.8 148.2 159.3 171.4 179.3 189.5 208.2 3

 4 Capital expenditures 139.1 163.0 175.3 186.2 205.5 224.7 215.7 226.5 237.0 267.3 4

 5 Fixed investment (2) 146.4 153.7 166.5 179.6 201.9 220.5 219.7 226.4 234.7 253.8 5

 6 Change in inventories -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 6

 7 Net lending (+) or net borrowing (-) -16.3 -36.2 -43.4 -47.4 -57.3 -65.4 -44.4 -47.2 -47.4 -59.1 7

 8 Net acquisition of financial assets 76.2 94.7 131.0 222.6 185.0 246.8 156.9 78.6 80.5 370.8 8

 9 Checkable deposits and currency 13.5 19.2 22.4 6.1 5.1 8.4 0.8 2.7 6.1 106.9 9

 10 Time and savings deposits 4.3 3.5 10.7 40.7 53.1 68.1 7.1 14.5 44.7 -13.2 10

 11 Money market mutual funds 1.9 2.2 3.7 9.7 8.1 8.7 9.6 2.3 2.3 2.9 11

 12 Debt securities 5.9 5.3 4.2 5.4 -0.9 2.7 3.7 -0.1 1.4 7.0 12

 13 Treasury securities 5.3 4.9 3.7 5.7 -0.8 3.0 2.7 0.0 2.1 5.3 13

 14 Municipal securities 0.6 0.4 0.5 -0.4 -0.1 -0.3 1.1 -0.1 -0.7 1.7 14

 15 Loans -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 15

 16 Mortgages -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 16

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

 18 Trade receivables 15.3 29.5 35.1 28.2 39.4 69.6 1.8 18.9 -25.1 26.6 18

 19 Miscellaneous assets 37.4 36.3 56.6 124.9 82.5 89.9 130.5 41.0 51.1 236.0 19

 20 Insurance receivables 2.8 1.0 0.7 3.0 1.1 -0.1 2.8 4.5 4.7 4.6 20

 21 Equity investment in GSEs (3) -0.1 0.1 -0.0 0.0 -0.0 0.0 0.5 0.1 0.6 0.0 21

 22 Other 34.7 35.2 55.9 121.9 81.4 90.0 127.3 36.5 45.8 231.4 22

 23 Net increase in liabilities 92.6 131.0 174.4 270.1 242.3 312.2 201.2 125.8 127.9 430.0 23

 24 Loans 45.3 70.4 101.9 179.0 193.8 192.4 163.5 151.9 73.9 254.7 24

 25 Depository institution loans n.e.c. 11.5 29.2 46.7 25.5 49.6 50.4 43.5 23.7 10.4 33.0 25

 26 Other loans and advances 4.9 1.1 4.2 5.8 6.1 7.4 -3.6 2.6 -0.6 1.2 26

 27 Mortgages 29.0 40.2 50.9 147.7 138.1 134.6 123.6 125.6 64.1 220.6 27

 28 Trade payables 13.8 31.8 31.9 30.3 34.5 41.5 -4.8 25.4 -26.2 23.7 28

 29 Taxes payable 0.6 2.3 4.3 4.1 8.9 11.7 4.0 1.5 -0.5 8.4 29

 30 Foreign direct investment in U.S. -0.1 0.3 0.5 0.2 0.6 -0.0 -0.0 0.4 -0.1 -0.2 30

 31 Miscellaneous liabilities 13.6 29.4 56.0 92.1 73.7 85.9 55.2 18.7 23.4 68.8 31

 32 Proprietors’ net investment 19.4 -3.3 -20.2 -35.7 -69.2 -19.3 -16.7 -72.0 57.4 74.6 32

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

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

(3) Equity in the Farm Credit System.
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Historical Annuals, 1995-2004, March 10, 2016 13

F.105 General Government (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 2397.2 2568.8 2753.1 2938.5 3127.2 3371.3 3384.5 3259.0 3369.7 3602.5 1

 2 Personal current taxes 748.4 837.1 931.8 1032.4 1112.1 1236.6 1239.3 1054.7 1005.3 1050.6 2

 3 Taxes on production and imports 557.9 580.8 611.6 639.5 673.6 708.6 727.7 762.6 808.0 863.9 3

 4 Taxes on corporate income 211.0 223.6 237.1 239.2 248.8 254.7 193.5 181.3 231.8 292.0 4

 5 Taxes from the rest of the world 3.9 5.2 5.1 5.7 5.9 7.3 7.7 7.6 9.0 10.0 5

 6 Contributions for govt. social insurance 535.5 557.9 590.3 627.8 664.6 709.4 736.9 755.2 783.2 833.6 6

 7 Income receipts on assets 92.9 100.3 103.6 102.8 106.3 119.5 115.6 100.3 97.3 102.2 7

 8 Current transfer receipts 232.0 247.1 256.2 275.0 299.8 324.5 358.6 390.3 431.2 452.0 8

 9 Current surplus of government enterprises 15.6 16.9 17.5 16.3 16.2 10.7 5.2 7.0 3.9 -1.8 9

 10 Current expenditures, NIPA basis 2669.6 2759.8 2842.6 2920.4 3051.4 3204.9 3435.3 3650.5 3894.0 4110.1 10

 11 Consumption expenditures 1144.5 1176.5 1224.6 1272.1 1357.6 1444.2 1545.1 1651.4 1755.6 1868.9 11

 12 Government social benefits 871.5 913.9 943.3 966.1 1000.7 1053.5 1155.3 1260.1 1331.2 1415.2 12

 13 Other current transfer payments 189.9 201.8 205.1 218.8 237.9 255.5 279.5 310.5 350.3 363.0 13

 14 Interest payments 428.9 432.3 435.8 427.0 410.0 405.8 396.7 387.0 407.8 416.6 14

 15 Subsidies 34.8 35.2 33.8 36.4 45.2 45.8 58.7 41.4 49.1 46.4 15

 16 Net saving, NIPA basis -272.4 -191.0 -89.5 18.1 75.9 166.4 -50.8 -391.4 -524.3 -507.6 16

 17 + Consumption of fixed capital 240.2 245.0 249.9 255.3 264.9 277.7 286.3 294.1 304.9 322.4 17

 18 - Insurance and pension fund reserves (2) 2.7 2.9 1.7 3.1 2.4 0.2 1.7 -3.4 -1.9 -1.4 18

 19 - Net capital transfers (3) -19.4 -22.9 -26.6 -32.1 -32.2 -35.3 -37.1 -28.5 -10.8 -8.6 19

 20 = Gross saving less net capital transfers -15.5 74.1 185.3 302.5 370.7 479.2 270.9 -65.4 -206.7 -175.2 20

 21 Gross investment 47.2 96.9 231.6 331.5 410.1 543.7 322.3 -66.7 -278.2 -137.5 21

 22 Fixed investment 307.7 320.0 329.5 341.4 368.5 390.3 413.6 443.6 465.3 488.5 22

 23 Nonproduced nonfinancial assets -1.4 1.2 -3.0 1.6 7.4 8.0 8.7 10.9 10.5 10.5 23

 24 Net lending (+) or net borrowing (-) -259.1 -224.3 -95.0 -11.4 34.2 145.5 -100.0 -521.2 -754.0 -636.5 24

 25 Net acquisition of financial assets -39.0 35.4 96.0 140.8 172.9 6.4 154.0 83.9 80.2 179.0 25

 26 U.S. official reserve assets 6.4 -2.9 2.5 6.0 -7.1 -0.7 4.6 3.4 -1.8 -3.1 26

 27 Checkable deposits and currency 3.4 5.4 3.8 -20.6 70.1 -64.9 45.1 -12.0 16.3 -34.5 27

 28 Time and savings deposits 6.9 11.9 6.8 16.1 14.7 11.7 16.2 25.9 -5.4 7.9 28

 29 Money market fund shares 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 4.8 12.9 29

 30 Security repurchase agreements -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 1.6 7.3 30

 31 Debt securities -94.7 -37.5 -3.6 103.6 97.5 72.0 94.7 91.5 22.4 97.1 31

 32 Open market paper 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 -0.7 3.0 32

 33 Treasury securities -80.2 -32.8 -17.7 41.4 23.8 5.5 18.4 26.2 7.0 43.5 33

 34 Agency- and GSE-backed securities -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 11.9 37.4 34

 35 Municipal securities -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.4 1.2 35

 36 Corporate and foreign bonds 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 3.8 12.0 36

 37 Loans -21.4 7.7 15.0 11.6 8.8 6.8 3.0 2.7 2.5 17.4 37

 38 Mortgages -10.2 -3.4 -0.9 5.2 4.4 -2.1 -1.9 -4.8 2.4 16.7 38

 39 Consumer credit 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 39

 40 Other loans and advances -13.5 2.6 5.9 -2.4 -7.0 -2.8 -7.8 -0.5 -1.8 -3.0 40

 41 Corporate equities 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -8.0 5.4 41

 42 Mutual fund shares -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -1.7 3.5 42

 43 Trade receivables 4.5 6.5 3.1 8.5 13.3 10.2 13.3 -0.7 17.2 19.0 43

 44 Taxes receivable -7.0 2.0 -6.1 -4.3 11.1 -11.4 -6.8 -1.2 35.2 36.1 44

 45 Miscellaneous assets 52.4 -5.1 68.6 6.6 -7.7 -17.0 -13.1 -23.1 -2.9 9.9 45

 46 Net increase in liabilities 220.1 259.6 191.0 152.2 138.8 -139.1 254.0 605.1 834.2 815.4 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 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 48

 49 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 49

 50 Debt securities 104.4 184.3 109.0 55.3 8.8 -258.5 160.6 426.0 541.2 581.3 50

 51 Treasury securities 163.8 201.6 63.5 -13.4 -29.9 -274.0 55.8 281.6 423.1 403.5 51

 52 Municipal securities -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 178.5 52

 53 Loans 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 53

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

 55 Other loans and advances 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 55

 56 Trade payables 12.7 19.3 11.3 13.2 23.0 30.7 30.2 29.3 100.5 45.4 56

 57 Insurance reserves 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 57

 58 Miscellaneous liabilities 99.1 60.1 63.8 81.7 109.1 88.6 60.4 146.6 190.8 186.7 58

 59 Discrepancy -62.7 -22.9 -46.3 -29.0 -39.4 -64.5 -51.4 1.2 71.5 -37.7 59

 Memo:

 60 Net acquisition of financial assets (consolidated) (4) 41.1 73.0 108.5 99.2 150.8 0.6 135.4 57.1 73.2 135.2 60

 61 Net increase in liabilities (consolidated) (4) 300.2 297.3 203.5 110.6 116.6 -144.9 235.4 578.2 827.1 771.6 61

(1) Sum of the federal government and state and local governments sectors.

(2) Railroad Retirement Board, the National Railroad Retirement Investment Trust, and federal government life insurance reserves. Saving transferred to the households and nonprofit organizations sector.

 Includes value of Treasury and agency- and GSE-backed securities held by state and local government employee retirement funds.

(3) Table F.5, line 60 less line 12.

(4) Excludes Treasury securities held by state and local governments (line 33) and federal government loans to state and local governments (line 55).
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14 Historical Annuals, 1995-2004, March 10, 2016

F.106 Federal Government

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 1417.4 1536.3 1667.3 1789.8 1905.4 2068.2 2031.8 1870.6 1895.1 2027.4 1

 2 Personal current taxes 590.3 668.4 749.8 831.2 897.6 999.8 996.3 832.8 778.5 803.2 2

 3 Taxes on production and imports 75.6 72.9 77.8 80.7 83.4 87.3 85.3 86.8 90.2 95.2 3

 4 Taxes on corporate income 179.3 190.6 203.0 204.2 213.0 219.4 164.7 150.5 197.8 250.3 4

 5 Taxes from the rest of the world 3.9 5.2 5.1 5.7 5.9 7.3 7.7 7.6 9.0 10.0 5

 6 Contributions for govt. social insurance 521.9 545.4 579.4 617.4 654.8 698.6 723.3 739.4 763.2 808.9 6

 7 Income receipts on assets 23.8 26.6 25.5 21.5 21.1 25.6 26.4 21.8 23.5 25.3 7

 8 Current transfer receipts 17.5 22.7 20.1 21.5 22.4 24.8 25.5 24.9 26.2 29.6 8

 9 Current surplus of government enterprises 5.0 4.5 6.6 7.6 7.2 5.3 2.8 6.9 6.7 4.9 9

 10 Current expenditures, NIPA basis 1658.2 1714.8 1758.5 1787.0 1838.8 1911.7 2017.4 2141.1 2297.9 2426.6 10

 11 Consumption expenditures 427.7 428.4 438.7 436.4 455.6 475.1 505.4 560.3 628.5 681.4 11

 12 Government social benefits 653.9 689.6 715.7 730.3 748.4 782.1 850.2 927.1 977.6 1030.2 12

 13 Other current transfer payments 189.9 201.8 205.1 218.8 237.9 255.5 279.5 310.5 350.3 363.0 13

 14 Interest payments 352.3 360.0 365.6 365.6 352.2 353.7 331.2 302.7 292.6 306.1 14

 15 Subsidies 34.5 34.9 33.4 35.9 44.8 45.3 51.1 40.5 49.0 46.0 15

 16 Net saving, NIPA basis -240.8 -178.5 -91.2 2.7 66.6 156.5 14.5 -270.5 -402.9 -399.2 16

 17 + Consumption of fixed capital 151.9 152.4 153.0 153.6 156.8 161.5 163.3 165.0 170.3 178.6 17

 18 - Insurance and pension reserves (1) 2.7 2.9 1.7 3.1 2.4 0.2 1.7 -3.4 -1.9 -1.4 18

 19 - Net capital transfers paid (2) 13.0 10.9 8.7 3.8 7.8 8.9 14.6 24.4 41.1 39.3 19

 20 = Gross saving less net capital transfers paid -104.6 -39.9 51.5 149.5 213.3 308.9 161.4 -126.4 -271.7 -258.6 20

 21 Gross investment -114.1 -49.0 47.9 133.3 232.0 303.9 149.9 -146.6 -335.4 -263.9 21

 22 Fixed investment 147.7 149.8 143.7 147.7 154.9 157.4 163.8 180.3 196.4 211.0 22

 23 Nonproduced nonfinancial assets -7.9 -4.8 -8.8 -6.0 -1.2 -0.6 -1.5 -0.3 -0.9 -0.8 23

 24 Net lending (+) or net borrowing (-) -253.9 -194.0 -87.0 -8.3 78.4 147.1 -12.5 -326.6 -530.9 -474.1 24

 25 Net acquisition of financial assets -29.5 7.4 -2.7 -4.4 75.0 -68.8 53.3 8.4 35.1 5.3 25

 26 U.S. official reserve assets 6.4 -2.9 2.5 6.0 -7.1 -0.7 4.6 3.4 -1.8 -3.1 26

 27 Checkable deposits and currency -0.0 11.0 -0.5 -16.7 66.2 -65.1 41.1 -17.1 9.3 -31.0 27

 28 Time and savings deposits 0.3 1.4 1.0 1.3 0.7 1.0 4.2 17.1 -25.2 -0.0 28

 29 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Loans -24.7 3.9 11.3 5.6 4.3 8.1 3.9 8.0 -2.4 2.3 32

 33 Other loans and advances -13.5 2.6 5.9 -2.4 -7.0 -2.8 -7.8 -0.5 -1.8 -3.0 33

 34 Mortgages -13.5 -7.2 -4.5 -0.8 -0.1 -0.9 -1.1 0.5 -2.5 1.6 34

 35 Consumer credit (3) 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 35

 36 Corporate equities (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Trade receivables -1.6 0.9 -3.2 1.5 4.6 5.3 7.3 -3.3 19.1 10.5 37

 38 Taxes receivable -7.9 -0.3 -10.3 -9.3 1.2 -22.0 -9.8 -2.8 34.4 23.3 38

 39 Miscellaneous assets -2.1 -6.7 -3.5 7.1 5.1 4.6 2.0 3.1 1.8 3.4 39

 40 Net increase in liabilities 224.4 201.4 84.3 3.9 -3.3 -215.9 65.8 335.0 566.0 479.4 40

 41 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 42

 43 Treasury currency 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 43

 44 Debt securities 165.3 200.0 63.4 -11.4 -30.1 -275.0 55.2 282.1 420.7 402.8 44

 45 Treasury securities (5) 163.8 201.6 63.5 -13.4 -29.9 -274.0 55.8 281.6 423.1 403.5 45

 46 Marketable 173.7 139.3 0.9 -96.0 -71.0 -276.3 -4.0 240.9 372.1 366.1 46

 47 Nonmarketable -10.0 62.3 62.6 82.6 41.1 2.3 59.8 40.7 51.0 37.4 47

 48 Budget agency securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 48

 49 Loans (multifamily residential mortgages) 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 Trade payables -4.5 1.1 -8.3 -7.6 0.2 5.7 3.2 1.0 71.7 15.4 50

 51 Insurance reserves 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 51

 52 Miscellaneous liabilities 59.8 -0.4 27.5 21.0 27.1 53.6 4.7 49.3 71.9 59.4 52

 53 Claims of pension fund on sponsor 55.3 2.9 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 53

 54 Other 4.5 -3.3 0.3 -7.1 -2.9 2.0 -7.8 -0.4 17.1 18.4 54

 55 Discrepancy 9.5 9.1 3.7 16.1 -18.8 5.0 11.5 20.2 63.7 5.4 55

 Memo:

 56 Change in cash balance (6) -5.7 12.9 -2.2 -12.8 59.4 -55.1 5.2 -1.6 -24.8 -3.1 56

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

(2) Table F.5, line 61 less line 12.

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

 the government purchased from depository institutions and finance companies.

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

(5) Includes marketable and nonmarketable Treasury securities held by the public and Treasury securities held by federal government employee retirement funds.

(6) Time and savings deposits (line 28) plus checkable deposits and currency at the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
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Historical Annuals, 1995-2004, March 10, 2016 15

F.107 State and Local Governments (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Current receipts, NIPA basis 979.8 1032.6 1085.8 1148.7 1221.8 1303.1 1352.6 1388.4 1474.6 1575.1 1

 2 Personal current taxes 158.1 168.7 182.0 201.2 214.5 236.7 243.0 221.9 226.8 247.4 2

 3 Taxes on production and imports 482.4 507.9 533.8 558.8 590.2 621.3 642.4 675.8 717.8 768.7 3

 4 Taxes on corporate income 31.7 33.0 34.1 34.9 35.8 35.2 28.9 30.9 34.0 41.7 4

 5 Contributions for govt. social insurance 13.6 12.5 10.8 10.4 9.8 10.8 13.7 15.8 19.9 24.7 5

 6 Income receipts on assets 69.1 73.7 78.1 81.3 85.2 93.9 89.2 78.6 73.8 76.8 6

 7 Current transfer receipts 214.4 224.4 236.1 253.5 277.4 299.7 333.1 365.4 405.0 422.4 7

 8 Current surplus of government enterprises 10.6 12.4 10.9 8.7 9.0 5.4 2.4 0.1 -2.8 -6.7 8

 9 Current expenditures, NIPA basis 1011.4 1045.0 1084.1 1133.3 1212.6 1293.2 1417.9 1509.4 1596.0 1683.4 9

 10 Consumption expenditures 716.8 748.1 785.9 835.7 902.0 969.1 1039.7 1091.0 1127.1 1187.6 10

 11 Govt. social benefit payments to persons 217.6 224.3 227.6 235.8 252.3 271.4 305.1 333.0 353.6 385.0 11

 12 Other current transfer payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Interest payments 76.6 72.4 70.2 61.4 57.8 52.1 65.4 84.4 115.2 110.5 13

 14 Subsidies 0.3 0.3 0.4 0.4 0.4 0.5 7.7 0.9 0.1 0.4 14

 15 Net saving, NIPA basis -31.5 -12.5 1.7 15.4 9.2 9.9 -65.3 -120.9 -121.4 -108.4 15

 16 + Consumption of fixed capital 88.3 92.6 96.9 101.8 108.1 116.2 123.0 129.0 134.5 143.8 16

 17 - Net capital transfers paid (2) -32.4 -33.8 -35.2 -35.9 -40.0 -44.2 -51.7 -52.9 -52.0 -48.0 17

 18 = Gross saving less net capital transfers paid 89.1 114.0 133.8 153.1 157.4 170.3 109.4 61.0 65.1 83.4 18

 19 Gross investment 161.3 145.9 183.7 198.2 178.0 239.8 172.4 79.9 57.2 126.4 19

 20 Fixed investment 160.0 170.2 185.8 193.7 213.6 232.9 249.8 263.3 268.9 277.5 20

 21 Nonproduced nonfinancial assets 6.6 6.0 5.8 7.6 8.6 8.6 10.1 11.2 11.4 11.3 21

 22 Net lending (+) or net borrowing (-) -5.2 -30.2 -8.0 -3.1 -44.2 -1.7 -87.5 -194.6 -223.1 -162.4 22

 23 Net acquisition of financial assets -9.5 28.0 98.7 145.2 97.9 75.2 100.7 75.5 45.1 173.7 23

 24 Checkable deposits and currency 3.4 -5.6 4.4 -3.9 4.0 0.1 4.0 5.1 7.0 -3.4 24

 25 Time and savings deposits 6.6 10.5 5.8 14.7 14.1 10.7 12.0 8.8 19.8 7.9 25

 26 Money market fund shares 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 4.8 12.9 26

 27 Security repurchase agreements -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 1.6 7.3 27

 28 Debt securities -94.7 -37.5 -3.6 103.6 97.5 72.0 94.7 91.5 22.4 97.1 28

 29 Open market paper 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 -0.7 3.0 29

 30 Treasury securities -80.2 -32.8 -17.7 41.4 23.8 5.5 18.4 26.2 7.0 43.5 30

 31 Agency- and GSE-backed securities -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 11.9 37.4 31

 32 Municipal securities -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.4 1.2 32

 33 Corporate and foreign bonds 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 3.8 12.0 33

 34 Loans (mortgages) 3.3 3.8 3.7 6.1 4.4 -1.3 -0.8 -5.3 4.9 15.1 34

 35 Corporate equities 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -8.0 5.4 35

 36 Mutual fund shares -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -1.7 3.5 36

 37 Trade receivables 6.1 5.6 6.3 7.0 8.7 4.9 6.0 2.6 -1.9 8.5 37

 38 Taxes receivable 0.9 2.3 4.2 5.0 9.9 10.6 3.0 1.5 0.8 12.9 38

 39 Miscellaneous assets 54.5 1.6 72.1 -0.5 -12.9 -21.6 -15.1 -26.2 -4.7 6.6 39

 40 Net increase in liabilities -4.3 58.2 106.7 148.3 142.1 76.9 188.2 270.1 268.2 336.1 40

 41 Debt securities (municipal securities) -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 178.5 41

 42 Short-term (3) 1.2 6.3 8.3 -6.3 2.6 1.4 23.8 25.2 10.4 22.2 42

 43 Long-term -62.1 -22.0 37.3 72.9 36.3 15.1 81.5 118.7 110.1 156.3 43

 44 Loans (U.S. government loans) 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 44

 45 Trade payables 17.2 18.2 19.6 20.8 22.8 25.0 27.0 28.3 28.8 30.0 45

 46 Claims of pension fund on sponsor (4) 39.3 60.6 36.3 60.7 82.0 35.0 55.8 97.3 118.9 127.3 46

 47 Discrepancy -72.2 -32.0 -49.9 -45.2 -20.6 -69.5 -63.0 -18.9 7.8 -43.1 47

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

(2) Table F.5, line 62.

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

(4) Included in miscellaneous liabilities.
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16 Historical Annuals, 1995-2004, March 10, 2016

F.108 Domestic Financial Sectors (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid 86.7 82.4 93.0 74.5 98.5 79.0 148.9 222.8 233.6 222.5 1

 2 Gross investment 208.5 107.8 144.4 147.1 187.6 111.1 151.7 166.0 343.1 167.4 2

 3 Capital expenditures 101.4 114.3 127.0 151.3 156.5 162.7 158.2 160.5 156.3 182.1 3

 4 Fixed residential investment 2.7 4.4 11.3 11.4 1.8 3.8 4.1 4.6 -0.2 5.5 4

 5 Fixed nonresidential investment 98.7 109.9 115.7 139.9 154.7 158.8 154.1 155.9 156.5 176.5 5

 6 Net lending (+) or net borrowing (-) 107.1 -6.5 17.4 -4.2 31.1 -51.5 -6.5 5.5 186.8 -14.7 6

 7 Net acqisition of financial assets 1711.4 1806.8 2324.8 2710.9 2822.0 2808.1 3244.9 2646.5 3260.8 3840.4 7

 8 U.S. official reserve assets 3.2 -3.8 -1.5 0.8 -1.7 0.9 0.3 0.3 0.3 0.3 8

 9 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 9

 10 Treasury currency 1.0 1.0 0.6 0.7 1.7 3.6 1.4 1.6 0.9 1.0 10

 11 Foreign deposits 4.0 3.4 0.1 6.9 11.0 43.5 30.7 -6.8 -37.0 0.8 11

 12 Net interbank assets 2.0 3.7 4.5 -8.6 20.6 -26.1 0.4 6.0 -0.1 -4.2 12

 13 Checkable deposits and currency -0.6 10.6 14.0 6.8 10.9 4.0 65.5 13.7 43.7 27.5 13

 14 Time and savings deposits 34.6 39.4 43.3 42.2 4.6 -28.0 64.0 -26.6 -47.8 20.5 14

 15 Money market fund shares 11.5 77.9 53.3 101.0 100.4 37.8 147.7 -1.6 -78.0 -110.5 15

 16 Federal funds and security repos 188.9 67.7 166.5 10.1 128.1 100.2 177.6 165.4 17.6 300.4 16

 17 Debt securities 541.7 416.4 710.4 919.2 932.3 489.4 986.6 871.8 1142.5 483.0 17

 18 Open market paper 35.3 52.4 144.0 140.4 205.8 164.5 -196.5 -130.2 -89.3 61.0 18

 19 Treasury securities 82.2 -9.4 117.1 -5.4 -18.9 4.7 106.0 214.9 112.1 -1.8 19

 20 Agency- and GSE-backed securities 192.1 132.3 150.3 352.8 401.0 218.2 639.8 516.3 432.6 -210.1 20

 21 Municipal securities 24.8 38.8 38.2 85.2 25.4 10.3 67.6 69.6 110.7 79.5 21

 22 Corporate and foreign bonds 207.3 202.2 260.8 346.2 319.0 91.7 369.7 201.4 576.4 554.5 22

 23 Loans 516.1 552.0 598.8 890.6 1018.1 969.6 724.4 882.5 1127.6 1596.8 23

 24 Depository institution loans n.e.c. 111.0 97.9 140.6 133.3 89.1 113.1 -86.5 -98.5 -46.3 52.8 24

 25 Other loans and advances 54.5 66.0 107.3 174.9 233.7 139.0 -8.8 -18.2 71.2 198.9 25

 26 Mortgages 204.4 283.6 297.2 489.1 591.2 557.9 673.4 903.8 983.0 1231.7 26

 27 Consumer credit 146.2 104.5 53.7 93.3 104.1 159.5 146.2 95.4 119.8 113.3 27

 28 Corporate equities 56.4 160.2 103.8 156.5 72.4 440.0 452.6 174.5 254.2 332.6 28

 29 Mutual fund shares 84.0 58.7 88.1 92.1 84.6 165.9 86.2 108.5 8.6 102.7 29

 30 Trade receivables 20.1 9.0 23.6 5.6 -15.8 17.1 17.9 -0.7 13.4 10.6 30

 31 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 U.S. direct investment abroad 8.4 15.1 20.5 13.5 24.2 21.2 18.6 23.4 24.3 43.8 32

 33 Miscellaneous assets 237.9 396.0 499.5 473.4 433.7 572.9 471.0 434.5 790.6 1035.3 33

 34 Net increase in liabilities 1604.3 1813.3 2307.4 2715.1 2790.9 2859.7 3251.4 2641.1 3074.0 3855.2 34

 35 Net interbank liabilities -10.7 -25.0 -7.0 -5.6 16.7 -49.3 -32.0 15.0 4.7 -11.5 35

 36 Checkable deposits and currency -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 36

 37 Time and savings deposits 174.0 226.4 251.4 217.0 214.7 382.6 353.8 346.6 368.3 530.0 37

 38 Money market fund shares 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 38

 39 Federal funds and security repos 194.4 81.0 244.8 -5.3 63.1 228.3 192.8 266.2 180.0 361.9 39

 40 Debt securities 428.2 465.5 510.3 880.2 920.7 746.6 812.3 874.5 1024.6 843.4 40

 41 Open market paper 42.7 92.2 166.7 161.0 176.2 131.7 -126.9 -99.9 -63.5 21.7 41

 42 Agency- and GSE-backed securities 204.3 231.4 213.7 471.6 593.3 434.9 642.7 546.7 586.2 115.8 42

 43 Corporate and foreign bonds 181.2 141.9 130.0 247.6 151.1 180.0 296.5 427.7 501.9 705.9 43

 44 Loans 35.5 105.2 93.0 216.8 194.1 161.3 75.5 -30.5 146.5 248.8 44

 45 Depository institution loans n.e.c. -2.9 24.9 12.7 29.3 22.4 3.1 6.4 11.9 27.2 35.0 45

 46 Other loans and advances 33.1 72.5 65.4 162.7 164.4 153.5 66.9 -53.5 110.4 188.3 46

 47 Mortgages 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 47

 48 Corporate equities -7.2 -21.3 -27.9 3.5 1.7 17.1 39.9 71.5 66.0 118.1 48

 49 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 49

 50 Trade payables 1.1 4.0 5.7 -1.0 11.9 5.1 3.3 -1.8 -9.2 7.8 50

 51 Life insurance reserves 44.8 43.8 57.6 46.3 51.7 48.7 76.1 60.6 67.4 32.0 51

 52 Pension entitlements 340.4 311.7 391.1 464.4 364.9 452.2 469.2 486.4 506.7 615.6 52

 53 Taxes payable 8.1 4.1 8.1 4.3 4.3 10.3 4.7 -3.9 10.3 5.3 53

 54 Equity in noncorporate business -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 54

 55 Foreign direct investment in U.S. 3.0 14.7 6.1 34.0 105.7 71.8 25.7 9.6 23.9 50.2 55

 56 Miscellaneous liabilities 133.4 230.9 343.4 289.9 286.1 423.7 489.8 396.7 528.4 812.5 56

 57 Discrepancy -121.8 -25.5 -51.4 -72.6 -89.0 -32.1 -2.8 56.9 -109.5 55.2 57

(1) Sum of financial sectors shown on tables F.109 through F.131.
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Historical Annuals, 1995-2004, March 10, 2016 17

F.109 Monetary Authority (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving -0.6 2.5 3.7 -0.4 1.9 6.6 2.4 -0.5 -1.6 2.2 1

 2 Fixed nonresidential investment 1.5 1.6 1.8 1.9 2.5 1.6 1.0 0.6 0.6 0.8 2

 3 Net acquisition of financial assets 19.8 23.3 38.8 32.9 130.0 -60.9 47.0 70.7 43.2 44.4 3

 4 U.S. official reserve assets 3.2 -3.8 -1.5 0.8 -1.7 0.9 0.3 0.3 0.3 0.3 4

 5 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency 1.0 1.0 0.6 0.7 1.7 3.6 1.4 1.6 0.9 1.0 6

 7 Federal Reserve float (2) 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 7

 8 Interbank loans (2) -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 8

 9 Discount window (3) -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -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 repurchase agreements 3.3 7.7 2.3 6.5 110.3 -97.3 6.9 -10.8 4.3 -10.8 11

 12 Debt securities 12.7 12.3 38.3 21.1 25.7 33.7 39.9 77.7 37.2 51.2 12

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

 14 Treasury securities 13.7 12.7 39.8 21.4 25.8 33.7 40.0 77.7 37.3 51.2 14

 15 Treasury bills 5.7 7.5 6.5 -2.4 -18.3 2.2 3.3 44.6 18.2 18.1 15

 16 Other Treasury securities 7.9 5.2 33.4 23.8 44.1 31.5 36.6 33.1 19.1 33.0 16

 17 Agency- and GSE-backed securities -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 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 -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 0.0 -0.0 0.0 19

 20 Loans (depository institution loans n.e.c.) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

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

 23 Funding corporations (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Corporate equities (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous assets -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 26

 27 Nonofficial foreign currencies (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Other -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 28

 29 Net increase in liabilities 19.5 22.8 38.1 32.1 129.5 -61.3 46.5 69.6 42.7 41.7 29

 30 Depository institution reserves -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 30

 31 Vault cash of depository institutions 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 31

 32 Checkable deposits and currency 16.9 23.3 29.8 39.0 108.2 -35.1 47.4 41.9 37.3 37.7 32

 33 Due to federal government -1.2 1.7 -2.3 0.5 22.3 -22.9 1.5 -2.3 1.3 0.1 33

 34 Treasury cash holdings -0.1 -0.0 -0.0 -0.1 0.0 0.3 -0.0 -0.1 -0.0 -0.1 34

 35 Treasury general deposit account -1.2 1.8 -2.3 0.6 22.3 -23.3 1.5 -2.2 1.3 0.2 35

 36 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 36

 37 Due to government-sponsored enterprises 0.0 -0.0 0.0 0.7 -0.4 0.1 -0.6 0.4 -0.5 0.6 37

 38 Due to rest of the world 0.1 -0.2 0.3 -0.3 -0.1 0.1 -0.2 0.1 0.0 -0.1 38

 39 Currency outside banks 18.0 21.8 31.9 38.1 86.4 -12.5 46.7 43.7 36.5 37.1 39

 40 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 4.6 5.1 40

 41 Reverse repurchase agreement operations (10) 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 21.1 4.6 5.1 42

 43 Miscellaneous liabilities 1.4 -0.0 2.1 0.6 -0.9 1.0 -2.3 1.1 0.2 4.2 43

 44 Federal Reserve Bank stock 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 44

 45 Other 1.1 -0.7 1.3 0.1 -1.4 0.4 -2.7 0.1 -0.3 1.2 45

 46 Discrepancy -2.4 0.3 1.1 -3.0 -1.0 4.6 0.9 -2.2 -2.7 -1.4 46

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table F.203.

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

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

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

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

(7) Includes loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, AIG, Maiden Lane III LLC, and the Commercial Paper Funding Facility LLC.

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

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

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

(10) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).
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18 Historical Annuals, 1995-2004, March 10, 2016

F.110 Private Depository Institutions (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid (2) 0.4 -25.3 -20.8 17.5 8.8 35.5 36.4 36.4 27.9 14.7 1

 2 Fixed nonresidential investment 19.2 23.6 26.2 29.9 30.9 30.4 30.7 32.7 36.2 38.3 2

 3 Net lending (+) or net borrowing (-) 38.5 -54.9 -47.3 -7.9 -9.3 -79.3 -55.1 -75.5 33.1 -111.5 3

 4 Net acquisition of financial assets 255.6 236.2 435.2 397.3 409.1 561.8 367.5 624.1 611.3 991.4 4

 5 Vault cash 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 5

 6 Reserves at Federal Reserve -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 6

 7 Federal funds and security repos 31.8 -26.4 34.1 69.1 -57.9 82.8 25.3 23.1 30.5 25.7 7

 8 Debt securities 18.8 -5.2 89.8 101.6 111.1 34.8 157.0 207.4 173.6 62.3 8

 9 Open market paper -1.6 0.7 -1.2 0.0 1.7 -0.5 1.2 -0.9 -0.8 0.1 9

 10 Treasury securities -23.0 -19.4 3.7 -59.8 3.4 -39.2 -20.4 41.0 5.1 -27.3 10

 11 Agency- and GSE-backed securities 48.4 24.4 74.5 86.6 44.0 15.8 94.8 149.2 121.3 9.4 11

 12 Municipal securities -4.2 1.0 2.5 8.6 6.4 3.5 7.7 2.5 11.8 8.9 12

 13 Corporate and foreign bonds -0.8 -11.8 10.3 66.1 55.6 55.2 73.7 15.6 36.2 71.2 13

 14 Loans 250.0 236.7 249.4 243.4 299.9 407.6 120.0 247.1 333.6 662.7 14

 15 Depository institution loans n.e.c. 111.0 97.9 140.6 133.3 89.1 113.1 -86.5 -98.5 -46.3 52.8 15

 16 Other loans and advances -0.6 1.0 -2.8 -9.3 -3.1 -0.7 -2.9 -0.0 -0.2 -0.4 16

 17 Mortgages 82.0 95.8 113.3 114.2 196.3 232.4 180.5 307.7 308.0 552.4 17

 18 Consumer credit 57.5 41.9 -1.7 5.2 17.6 62.9 28.8 37.9 72.1 57.8 18

 19 Corporate equities 2.8 2.4 0.8 2.8 1.3 0.7 3.4 1.3 1.4 -1.4 19

 20 Mutual fund shares 0.5 0.0 0.6 0.8 1.2 2.2 9.3 1.5 -5.6 -1.9 20

 21 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S. direct investment abroad 1.6 3.5 3.0 2.0 2.9 10.9 1.8 3.0 6.5 8.2 22

 23 Miscellaneous assets -51.1 25.6 51.4 -15.0 28.2 49.9 49.2 135.1 70.7 241.4 23

 24 Net increase in liabilities 217.1 291.1 482.5 405.2 418.4 641.0 422.5 699.6 578.2 1102.9 24

 25 Net interbank liabilities -12.0 -24.6 -13.2 1.8 -5.5 -22.1 -33.4 9.4 4.0 -6.1 25

 26 Checkable deposits -45.8 -34.3 -21.0 -27.9 3.7 -78.4 63.1 -49.8 47.1 47.6 26

 27 Small time and savings deposits 112.5 123.8 129.5 189.3 83.8 231.0 314.6 325.4 307.4 281.6 27

 28 Large time deposits 61.5 102.5 121.9 27.7 130.9 151.6 39.2 21.2 60.9 248.4 28

 29 Federal funds and security repos 17.6 7.1 70.2 75.1 10.1 75.5 13.0 90.7 -3.7 39.1 29

 30 Debt securities 1.9 8.3 8.1 0.9 0.9 13.4 2.5 -0.9 6.2 12.6 30

 31 Open market paper -0.8 1.0 -2.7 -9.4 -2.9 -0.7 -3.2 -0.2 -0.2 -0.3 31

 32 Corporate bonds 2.7 7.3 10.8 10.3 3.8 14.1 5.7 -0.8 6.5 12.9 32

 33 Loans (other loans and advances) 3.5 26.9 35.4 89.5 106.4 43.2 24.8 4.7 28.3 71.1 33

 34 Corporate equity issues 2.6 3.2 3.2 3.8 3.8 4.4 8.2 5.5 9.1 5.6 34

 35 Taxes payable (net) 5.1 2.0 5.3 3.1 2.0 9.7 3.8 10.0 1.7 -0.5 35

 36 Foreign direct investment in U.S. 6.6 -0.1 7.7 5.5 19.5 5.8 6.4 2.1 4.2 17.9 36

 37 Miscellaneous liabilities 63.5 76.3 135.3 36.4 62.7 206.9 -19.8 281.2 113.0 385.5 37

 38 Investment by holding companies 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 38

 39 Investment by funding corporations 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 39

 40 Other 18.0 28.9 89.7 -36.5 35.8 66.5 -58.3 196.1 85.7 133.3 40

 41 Discrepancy -57.3 6.0 0.4 -4.6 -12.7 84.4 60.8 79.2 -41.5 88.0 41

 Memo:

 42 Consumer leases not included above (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

(1) U.S.-chartered depository institutions (F.111), foreign banking offices (F.112), banks in U.S.-affiliated areas (F.113), and credit unions (F.114).

(2) Net capital transfers paid from table F.5, line 54.

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

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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Historical Annuals, 1995-2004, March 10, 2016 19

F.111 U.S.-Chartered Depository Institutions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid (1) -6.9 -33.1 -27.6 10.3 0.9 26.3 27.1 25.6 16.7 2.9 1

 2 Fixed nonresidential investment 16.5 20.0 21.7 24.6 25.3 24.7 24.8 26.9 29.9 31.0 2

 3 Net acquisition of financial assets 176.9 157.0 338.5 363.1 426.4 457.2 320.0 562.8 582.1 925.1 3

 4 Vault cash 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 4

 5 Reserves at Federal Reserve -1.1 -5.4 4.5 -2.6 -2.7 -4.5 -1.8 4.4 0.7 1.2 5

 6 Federal funds and security repos 39.0 -21.8 13.4 58.0 -47.7 42.5 38.0 5.6 6.9 35.8 6

 7 Debt securities -29.8 -42.1 60.2 92.7 98.2 25.9 112.8 160.8 163.1 39.9 7

 8 Open market paper 0.4 0.4 -0.9 -0.1 -0.1 0.2 0.0 0.0 0.0 0.0 8

 9 Treasury securities -49.1 -35.7 -9.0 -46.4 -2.0 -36.4 -28.8 27.7 10.1 -23.1 9

 10 Agency- and GSE-backed securities 28.0 6.8 59.6 70.2 32.8 11.5 94.7 135.9 107.7 7.3 10

 11 Residential mortgage pass-through securities 13.9 14.4 27.4 46.9 -19.3 7.4 59.5 101.3 37.7 91.2 11

 12 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Residential CMOs and other structured MBS -18.4 -11.5 17.5 8.9 5.0 -9.8 57.2 -9.2 26.8 -50.1 13

 14 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other 32.5 3.9 14.7 14.3 47.2 13.9 -21.9 43.7 43.3 -33.8 15

 16 Municipal securities -4.3 1.1 2.5 8.6 6.3 3.4 7.9 2.5 11.8 9.1 16

 17 Corporate and foreign bonds -4.7 -14.7 8.0 60.4 61.2 47.2 38.9 -5.2 33.5 46.6 17

 18 Private residential mortgage pass-through securities -3.6 -4.0 -7.1 -0.9 5.7 0.3 15.4 -15.9 0.3 4.2 18

 19 Private commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Private residential CMOs and other structured MBS 3.5 -3.1 0.7 20.3 6.0 7.7 2.8 8.1 30.9 4.4 20

 21 Private commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other -4.6 -7.5 14.4 41.0 49.5 39.2 20.7 2.6 2.2 38.0 22

 23 Loans 204.2 181.1 211.4 244.7 305.7 355.8 119.0 254.3 322.0 609.3 23

 24 Depository institution loans n.e.c. 74.3 60.6 112.6 139.1 117.8 93.7 -63.3 -66.4 -24.2 40.6 24

 25 Other loans and advances 2.4 1.6 -0.2 -4.6 -2.5 -0.7 -2.3 0.3 -0.2 -0.5 25

 26 Mortgages 82.3 89.1 109.0 108.0 185.2 216.5 160.8 288.6 284.4 520.8 26

 27 Consumer credit 45.2 29.7 -9.9 2.1 5.1 46.4 23.7 31.7 62.0 48.3 27

 28 Corporate equities 2.8 2.4 0.8 2.8 1.3 0.7 3.4 1.3 1.4 -1.4 28

 29 Mutual fund shares 0.3 0.3 0.8 -0.4 2.3 2.5 7.8 1.7 -6.2 -0.9 29

 30 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 U.S. direct investment abroad 1.6 3.5 3.0 2.0 2.9 10.9 1.8 3.0 6.5 8.2 31

 32 Miscellaneous assets -42.6 34.3 44.6 -31.1 41.8 45.5 36.1 131.0 87.5 239.5 32

 33 Net increase in liabilities 180.8 194.5 381.1 394.8 388.9 536.7 386.8 616.1 530.3 1001.8 33

 34 Net interbank liabilities -8.2 -30.9 12.5 34.9 51.5 48.5 5.1 12.0 39.1 70.7 34

 35 Federal Reserve float 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 35

 36 Borrowing from Federal Reserve banks -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 36

 37 To domestic banking -2.6 -3.7 -14.5 14.0 -2.4 2.2 4.3 7.9 -4.4 13.4 37

 38 To foreign banks -6.3 -31.4 28.6 22.0 55.6 45.3 1.9 3.7 44.2 56.0 38

 39 Checkable deposits -47.9 -35.7 -26.4 -35.3 0.9 -83.7 56.2 -53.7 38.5 39.2 39

 40 Federal government -4.7 9.7 -0.9 -14.6 36.4 -33.2 -0.4 -16.4 -0.9 -3.2 40

 41 Private domestic -44.2 -48.8 -29.9 -17.9 -35.0 -52.9 59.1 -37.0 35.1 32.8 41

 42 Rest of the world 1.0 3.5 4.4 -2.8 -0.5 2.4 -2.5 -0.3 4.3 9.7 42

 43 Small time and savings deposits 100.4 111.3 111.9 169.0 72.6 217.0 257.0 294.5 276.8 265.2 43

 44 Large time deposits 54.9 54.1 76.7 49.9 74.6 116.7 -4.7 60.1 39.4 162.6 44

 45 Federal funds and security repos 15.2 -9.5 48.3 54.7 28.1 16.5 24.2 43.8 -6.5 36.7 45

 46 Debt securities 5.0 9.0 10.5 5.7 1.3 13.5 3.4 -0.5 6.3 12.4 46

 47 Open market paper 2.3 1.7 -0.3 -4.6 -2.5 -0.6 -2.3 0.3 -0.2 -0.4 47

 48 Corporate bonds 2.7 7.3 10.8 10.3 3.8 14.1 5.7 -0.8 6.5 12.9 48

 49 Loans (other loans and advances) 3.6 26.8 35.2 89.0 104.2 43.2 23.3 2.8 26.1 68.8 49

 50 Corporate equity issues 2.6 3.2 3.2 3.8 3.8 4.4 8.2 5.5 9.1 5.6 50

 51 Taxes payable (net) 5.1 2.0 5.3 3.1 2.0 9.7 3.8 10.0 1.7 -0.5 51

 52 Miscellaneous liabilities 50.2 64.2 103.8 20.1 49.9 151.0 10.3 241.7 99.8 340.9 52

 53 Investment by holding companies 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 53

 54 Other 11.3 30.5 72.5 -41.0 25.5 56.2 -50.0 175.1 80.0 121.8 54

 55 Discrepancy -19.5 -15.6 -6.7 17.3 -61.9 81.1 69.1 52.1 -65.0 48.5 55

 Memo:

 56 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

(1) Net capital transfers paid from table F.5, line 54.

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

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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20 Historical Annuals, 1995-2004, March 10, 2016

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 1.8 1.9 2.0 2.1 2.3 2.6 2.7 2.8 2.9 3.1 1

 2 Fixed nonresidential investment 1.7 2.2 2.7 3.2 3.3 3.4 3.4 3.3 3.5 3.9 2

 3 Net acquisition of financial assets 57.1 57.6 68.7 -5.3 -34.6 67.0 -18.7 16.9 -23.8 11.4 3

 4 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserves at Federal Reserve -0.1 0.3 1.8 -1.9 0.4 -1.0 0.2 0.6 -0.4 -0.1 5

 6 Federal funds and security repos -7.4 0.3 18.7 7.8 -12.6 45.6 -11.2 18.2 23.0 -11.8 6

 7 Debt securities 47.5 34.4 28.8 0.1 9.9 7.5 22.0 22.8 -13.5 17.1 7

 8 Open market paper -0.4 0.5 -0.2 -0.1 0.4 -0.1 0.0 0.0 0.0 0.0 8

 9 Treasury securities 29.6 18.4 14.4 -10.3 9.7 -0.5 9.8 12.9 -7.3 -5.7 9

 10 Agency- and GSE-backed securities 14.3 12.4 12.5 5.2 4.9 0.4 -22.0 10.9 -6.3 -1.4 10

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

 12 Corporate and foreign bonds 4.0 3.0 2.2 5.2 -5.1 7.7 34.2 -1.0 0.1 24.2 12

 13 Loans 26.4 31.9 18.2 -17.4 -34.7 18.5 -28.3 -28.9 -26.2 5.0 13

 14 Depository institution loans n.e.c. 34.4 35.4 26.9 -7.1 -29.6 17.4 -28.4 -29.7 -24.7 5.5 14

 15 Other loans and advances -2.9 -0.6 -2.5 -4.7 -0.6 -0.0 -0.6 -0.4 -0.0 0.1 15

 16 Mortgages -5.1 -2.9 -6.1 -5.7 -4.5 1.2 0.7 1.1 -1.5 -0.6 16

 17 Corporate equities 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Miscellaneous assets -9.3 -9.2 1.2 6.2 2.3 -3.7 -1.4 4.2 -6.7 1.2 18

 19 Net increase in liabilities 18.7 78.2 75.7 -25.4 14.5 78.6 -25.3 39.9 -5.9 50.2 19

 20 Net interbank liabilities -2.3 5.6 -24.5 -25.1 -46.2 -72.4 -20.0 0.2 -29.6 -77.7 20

 21 To foreign banks -1.1 0.1 -18.2 -16.5 -48.9 -86.9 -29.1 6.5 -32.9 -84.6 21

 22 To domestic banks -1.3 5.5 -6.3 -8.6 2.6 14.5 9.2 -6.2 3.2 6.8 22

 23 Checkable deposits -0.1 -0.7 0.8 -0.2 0.6 -0.4 0.4 -0.7 1.1 -0.8 23

 24 Small time and savings deposits -0.7 0.1 4.4 -3.7 -1.8 -0.4 4.5 -2.3 0.8 -0.7 24

 25 Large time deposits 3.8 45.8 42.2 -27.3 52.3 30.0 30.3 -45.6 9.4 77.9 25

 26 Federal funds and security repos 2.4 16.5 20.7 21.4 -18.9 59.8 -12.4 47.9 0.3 2.5 26

 27 Debt securities (open market paper) (2) -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 27

 28 Foreign direct investment in U.S. 6.6 -0.1 7.7 5.5 19.5 5.8 6.4 2.1 4.2 17.9 28

 29 Miscellaneous liabilities 12.2 11.7 26.8 8.8 9.5 56.3 -33.6 38.6 8.0 30.9 29

 30 Investment by funding corporations 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 30

 31 Other 5.5 -2.0 12.5 -3.0 7.0 10.6 -11.7 20.0 0.6 -2.2 31

 32 Discrepancy -38.3 20.3 6.3 -21.2 48.1 10.9 -7.3 22.5 17.3 38.0 32

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.
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Historical Annuals, 1995-2004, March 10, 2016 21

F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 1

 2 Fixed nonresidential investment 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2

 3 Net acquisition of financial assets 5.8 1.5 5.5 9.1 3.4 4.6 15.9 -4.7 8.4 14.9 3

 4 Debt securities 1.5 -1.3 2.3 3.7 2.2 3.7 2.2 4.0 6.1 5.6 4

 5 Treasury securities 0.2 -1.3 0.1 -0.7 -0.7 -1.0 -0.6 0.3 1.0 1.4 5

 6 Agency- and GSE-backed securities 1.3 0.2 2.0 3.9 3.3 4.3 2.5 3.9 4.7 4.7 6

 7 Municipal securities 0.1 -0.1 -0.0 -0.1 0.1 0.1 -0.2 0.0 0.1 -0.2 7

 8 Corporate and foreign bonds -0.1 -0.1 0.1 0.5 -0.5 0.3 0.6 -0.3 0.4 -0.2 8

 9 Loans 2.7 2.0 1.4 2.3 2.3 3.0 7.8 -2.7 4.4 8.3 9

 10 Depository institution loans n.e.c. 1.8 1.4 0.9 0.9 0.5 1.1 4.5 -4.3 0.3 1.8 10

 11 Home mortgages 1.0 0.6 0.1 1.1 0.6 1.0 -0.9 1.5 2.5 3.4 11

 12 Commercial mortgages -0.0 -0.1 0.5 0.4 1.2 0.8 4.2 0.2 1.6 3.1 12

 13 Miscellaneous assets 1.6 0.8 1.8 3.1 -1.0 -2.1 5.9 -6.0 -2.2 0.9 13

 14 Net increase in liabilities 5.5 1.4 5.1 9.4 3.8 3.4 16.4 -5.7 7.5 15.5 14

 15 Net interbank liabilities -0.2 0.2 0.1 -0.6 -0.3 0.5 -1.1 0.3 0.0 -1.0 15

 16 Checkable deposits 0.2 0.5 0.4 1.2 0.0 -0.1 3.1 -1.1 1.5 1.6 16

 17 Small time and savings deposits 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 17

 18 Large time deposits 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 18

 19 Miscellaneous liabilities 3.1 0.4 4.6 6.9 2.4 0.2 5.3 -1.0 3.4 11.8 19

 20 Discrepancy -0.3 -0.1 -0.5 0.2 0.3 -1.2 0.5 -1.0 -1.0 0.6 20

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

F.114 Credit Unions

Billions of dollars

 1 Gross saving 5.4 5.8 4.7 5.0 5.5 6.5 6.4 7.9 8.2 8.6 1

 2 Fixed nonresidential investment 0.9 1.3 1.6 1.9 2.1 2.2 2.3 2.4 2.7 3.2 2

 3 Net acquisition of financial assets 15.8 20.1 22.5 30.3 13.9 33.0 50.2 49.2 44.6 40.1 3

 4 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.2 -0.0 4

 5 Federal funds and security repos 0.2 -4.9 2.0 3.4 2.4 -5.3 -1.5 -0.8 0.6 1.6 5

 6 Debt securities -0.5 3.8 -1.5 5.1 0.9 -2.4 20.0 19.8 17.9 -0.3 6

 7 Open market paper -1.6 -0.3 -0.1 0.2 1.5 -0.6 1.2 -0.9 -0.8 0.1 7

 8 Treasury securities -3.8 -0.9 -1.8 -2.5 -3.5 -1.4 -0.8 0.1 1.2 0.1 8

 9 Agency- and GSE-backed securities 4.9 4.9 0.4 7.3 2.9 -0.4 19.6 -1.5 15.2 -1.1 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 2.3 0.6 11

 12 Loans 16.7 21.7 18.4 13.8 26.7 30.4 21.5 24.4 33.3 40.1 12

 13 Depository institution loans n.e.c. 0.4 0.4 0.2 0.4 0.4 1.0 0.7 1.9 2.3 4.9 13

 14 Home mortgages 4.0 9.1 9.9 10.4 13.8 12.8 15.7 16.3 20.9 25.7 14

 15 Consumer credit 12.3 12.2 8.2 3.0 12.5 16.5 5.1 6.2 10.1 9.5 15

 16 Mutual fund shares 0.2 -0.3 -0.2 1.2 -1.1 -0.3 1.5 -0.2 0.5 -0.9 16

 17 Miscellaneous assets -0.8 -0.2 3.8 6.8 -15.0 10.2 8.6 5.9 -8.0 -0.3 17

 18 Net increase in liabilities 12.1 17.0 20.6 26.3 11.2 22.4 44.6 49.3 46.3 35.5 18

 19 Net interbank liabilities -1.3 0.6 -1.2 -7.4 -10.5 1.2 -17.4 -3.1 -5.4 2.0 19

 20 Shares/deposits 15.4 16.3 20.3 33.6 17.7 22.4 61.1 49.5 45.3 29.5 20

 21 Checkable 2.1 1.6 4.1 6.4 2.3 5.9 3.5 5.7 6.0 7.6 21

 22 Small time and savings 11.6 12.3 13.2 23.1 12.3 13.0 48.6 35.1 28.5 15.5 22

 23 Large time 1.7 2.4 2.9 4.1 3.1 3.5 9.0 8.7 10.8 6.4 23

 24 Federal funds and security repos 0.0 0.0 1.3 -1.0 1.0 -0.9 1.2 -1.0 2.5 -0.2 24

 25 Loans (other loans and advances) -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 25

 26 Miscellaneous liabilities -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 26

 27 Discrepancy 0.8 1.5 1.3 -0.9 0.7 -6.4 -1.5 5.6 7.2 0.8 27
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22 Historical Annuals, 1995-2004, March 10, 2016

F.115 Property-Casualty Insurance Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving less net capital transfers paid (1) 8.3 9.8 9.4 9.7 12.0 3.4 2.6 18.1 41.1 44.9 1

 2 Fixed nonresidential investment 10.8 8.4 9.1 11.7 13.4 14.7 15.9 15.6 20.4 19.2 2

 3 Net acquisition of financial assets 37.0 16.2 37.1 16.5 -9.7 6.9 13.8 81.9 89.5 81.0 3

 4 Checkable deposits and currency -0.2 -0.9 0.3 -0.2 0.2 -0.6 9.4 12.8 8.6 -8.7 4

 5 Money market fund shares 2.8 -0.7 -0.1 2.6 -5.0 3.5 -3.1 5.0 -0.9 -0.9 5

 6 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 0.6 -1.2 6

 7 Debt securities 27.7 21.6 25.2 10.9 -12.3 -1.9 2.0 48.0 75.7 85.6 7

 8 Open market paper 4.1 -1.0 -0.1 3.7 -7.2 5.0 -6.4 3.0 -2.0 -1.4 8

 9 Treasury securities 1.7 -12.9 2.1 -19.6 -11.9 -7.1 -0.3 14.5 14.3 20.3 9

 10 Agency- and GSE-backed securities 2.3 2.8 1.7 -1.2 5.9 8.6 10.1 19.0 2.2 -3.3 10

 11 Municipal securities 7.0 14.4 2.6 16.5 -9.1 -14.9 -10.3 9.2 41.2 43.6 11

 12 Corporate and foreign bonds 12.7 18.3 18.9 11.6 10.0 6.4 8.9 2.4 20.0 26.4 12

 13 Loans (commercial mortgages) -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 13

 14 Corporate equities -0.9 -7.1 2.6 -5.4 -1.7 0.3 -0.7 -1.0 -4.0 -4.5 14

 15 Mutual fund shares 0.3 0.3 0.4 0.3 0.1 0.4 0.4 -0.1 1.3 1.0 15

 16 Trade receivables 4.4 -0.1 2.7 1.6 2.0 1.0 5.3 4.9 4.5 0.3 16

 17 U.S. direct investment abroad 3.8 3.6 6.1 6.9 7.1 4.4 -1.4 11.2 3.6 9.1 17

 18 Miscellaneous assets (equity in FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Net increase in liabilities 21.3 8.1 -2.5 -0.2 6.1 1.6 31.6 49.9 59.6 38.5 19

 20 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.7 -0.7 1.2 -1.0 20

 21 Corporate equity issues -2.2 -4.8 -13.7 -4.7 -7.8 -4.5 0.5 6.2 4.1 -4.0 21

 22 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Taxes payable (net) 0.7 0.6 0.5 -1.1 0.1 0.1 0.3 -7.4 4.7 0.5 23

 24 Foreign direct investment in U.S. 2.0 5.7 5.9 1.3 11.3 6.8 3.1 7.7 3.0 -4.8 24

 25 Miscellaneous liabilities 20.8 6.6 4.8 4.3 2.5 -0.8 26.1 44.1 46.6 47.9 25

 26 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Policy payables 20.8 6.6 4.8 4.3 2.5 -0.8 26.1 44.1 46.6 47.9 27

 28 Discrepancy -18.2 -6.7 -39.3 -18.8 14.4 -16.7 4.5 -29.5 -9.2 -16.8 28

(1) Net capital transfers paid from table F.5, line 51.
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Historical Annuals, 1995-2004, March 10, 2016 23

F.116 Life Insurance Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving -2.1 0.8 -6.9 -1.1 5.5 5.2 3.7 9.3 4.3 16.3 1

 2 Fixed nonresidential investment 9.7 7.7 8.3 10.0 10.9 11.7 11.8 11.6 12.0 13.3 2

 3 Net acquisition of financial assets 145.5 125.4 213.7 186.9 174.0 203.5 250.8 279.6 258.4 264.2 3

 4 Checkable deposits and currency -0.5 -0.9 3.8 -2.7 0.0 -0.5 31.9 -1.6 12.0 6.0 4

 5 Money market fund shares 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2.4 0.3 4.6 5

 6 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 3.4 -2.5 1.4 6

 7 Debt securities 92.2 70.0 101.8 68.1 42.6 48.8 117.7 219.7 167.6 149.3 7

 8 Open market paper -7.3 2.9 17.5 7.5 2.0 -4.5 -19.5 4.0 -17.8 -10.5 8

 9 Treasury securities 1.0 -14.9 1.6 -14.1 -9.3 -4.6 -0.1 31.4 -9.1 1.7 9

 10 Agency- and GSE-backed securities 8.7 1.3 -3.0 -9.6 7.0 11.0 18.1 77.4 18.0 8.2 10

 11 Municipal securities -0.9 1.5 0.1 1.7 1.7 -1.0 -0.4 1.2 6.2 4.0 11

 12 Corporate and foreign bonds 90.7 79.2 85.7 82.6 41.2 47.9 119.5 105.7 170.4 145.9 12

 13 Loans 7.8 -0.4 3.0 8.8 11.3 9.1 10.0 9.2 10.8 15.9 13

 14 Other loans and advances 10.4 4.6 4.3 2.0 -4.5 3.9 2.9 2.2 -0.1 3.5 14

 15 Mortgages -2.6 -5.0 -1.3 6.8 15.7 5.2 7.1 7.0 10.9 12.4 15

 16 Corporate equities 28.2 44.5 72.0 82.4 116.8 111.5 70.1 52.7 45.5 51.5 16

 17 Mutual fund shares 3.9 4.5 7.2 9.4 10.1 5.5 2.2 2.6 0.5 12.8 17

 18 U.S. direct investment abroad 0.4 0.8 1.8 0.7 1.5 1.1 1.3 2.9 0.9 1.8 18

 19 Miscellaneous assets 13.3 6.7 24.0 20.1 -8.3 28.0 16.2 -11.6 23.3 20.9 19

 20 Equity in FHLB -0.0 0.1 0.0 0.0 0.1 0.0 -0.1 0.2 0.7 0.6 20

 21 Deferred and unpaid life ins. premiums 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 21

 22 Other 12.6 5.8 23.7 21.4 -10.6 27.8 16.7 -12.7 21.7 18.8 22

 23 Net increase in liabilities 118.9 92.1 186.0 173.1 157.5 195.1 245.3 262.8 230.0 228.0 23

 24 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 12.6 0.8 -1.2 24

 25 Corporate equity issues -3.6 -8.8 -4.0 -4.7 -6.0 -0.8 -0.9 -6.5 -3.9 -17.3 25

 26 Loans (other loans and advances) -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 26

 27 Life insurance reserves 44.8 43.8 57.6 46.3 51.7 48.7 76.1 60.6 67.4 32.0 27

 28 Pension entitlements (2) 72.5 35.6 79.0 83.9 62.3 141.9 131.4 151.2 25.0 123.8 28

 29 Taxes payable (net) 1.6 0.5 1.4 1.5 0.5 -0.4 -0.4 -7.4 1.9 3.1 29

 30 Foreign direct investment in U.S. 1.8 1.0 7.0 2.7 11.7 30.1 3.4 3.7 -5.2 20.8 30

 31 Miscellaneous liabilities 1.8 18.9 44.8 42.7 36.6 -23.7 33.8 46.6 141.2 63.7 31

 32 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 -1.4 4.0 3.8 2.5 32

 33 Funding agreements backing securities (3) 0.0 0.0 0.0 0.7 2.5 6.3 15.2 21.4 21.2 19.7 33

 34 Other reserves (4) 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 34

 35 Unallocated insurance contracts -12.1 4.8 14.6 18.0 7.4 -27.4 -18.0 -20.9 73.8 18.4 35

 36 Other 5.9 6.4 19.5 13.6 15.3 -9.6 31.4 32.0 28.4 11.8 36

 37 Discrepancy -38.4 -40.2 -42.9 -25.0 -21.8 -14.9 -13.5 -19.1 -36.1 -33.1 37

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables F.116.g and F.116.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 35.

(3) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(4) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
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24 Historical Annuals, 1995-2004, March 10, 2016

F.116.g Life Insurance Companies: General Accounts

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 145.5 125.4 213.7 63.8 78.9 66.0 163.0 230.9 201.4 187.4 1

 2 Checkable deposits and currency -0.5 -0.9 3.8 -2.3 -0.1 -0.4 22.2 -1.5 8.0 2.3 2

 3 Money market fund shares 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2.4 0.3 4.6 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 3.4 -2.5 1.4 4

 5 Debt securities 92.2 70.0 101.8 47.8 39.9 39.9 110.5 195.4 169.0 145.8 5

 6 Open market paper -7.3 2.9 17.5 2.0 1.5 -4.1 -16.5 2.8 -13.6 -6.2 6

 7 Treasury securities 1.0 -14.9 1.6 -11.6 -4.8 -5.3 3.5 26.0 -7.3 -3.1 7

 8 Agency- and GSE-backed securities 8.7 1.3 -3.0 -15.0 3.0 6.1 11.8 65.5 21.1 14.9 8

 9 Municipal securities -0.9 1.5 0.1 1.5 1.5 -0.5 -0.4 1.4 5.8 4.0 9

 10 Corporate and foreign bonds 90.7 79.2 85.7 70.9 38.7 43.7 112.1 99.7 163.1 136.2 10

 11 Loans 7.8 -0.4 3.0 8.8 12.2 8.4 9.4 8.9 10.9 14.9 11

 12 Other loans and advances 10.4 4.6 4.3 2.3 -3.6 4.1 3.0 2.3 0.1 3.5 12

 13 Mortgages -2.6 -5.0 -1.3 6.5 15.8 4.3 6.4 6.5 10.8 11.4 13

 14 Corporate equities 28.2 44.5 72.0 3.6 4.1 -2.1 -5.1 5.6 -1.9 1.8 14

 15 Mutual fund shares 3.9 4.5 7.2 0.1 -0.3 0.2 0.0 0.5 0.1 0.1 15

 16 U.S. direct investment abroad 0.4 0.8 1.8 0.7 1.5 1.1 1.3 2.9 0.9 1.8 16

 17 Miscellaneous assets 13.3 6.7 24.0 5.1 21.4 18.9 23.2 13.3 16.6 14.6 17

 18 Net increase in liabilities 118.9 92.1 186.0 49.7 62.6 59.2 158.2 214.0 174.0 151.0 18

 19 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 12.6 0.8 -1.2 19

 20 Corporate equity issues -3.6 -8.8 -4.0 -4.7 -6.0 -0.8 -0.9 -6.5 -3.9 -17.3 20

 21 Loans (other loans and advances) -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 21

 22 Life insurance reserves 44.8 43.8 57.6 30.0 33.3 29.0 43.9 41.3 36.7 22.6 22

 23 Pension entitlements (1) 72.5 35.6 79.0 -17.3 -20.4 22.0 86.1 118.3 33.1 73.8 23

 24 Taxes payable (net) 1.6 0.5 1.4 1.5 0.5 -0.4 -0.4 -7.4 1.9 3.1 24

 25 Foreign direct investment in U.S. 1.8 1.0 7.0 2.7 11.7 30.1 3.4 3.7 -5.2 20.8 25

 26 Miscellaneous liabilities 1.8 18.9 44.8 36.7 42.7 -20.1 24.2 49.9 107.7 46.2 26

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 26).

F.116.s Life Insurance Companies: Separate Accounts

Billions of dollars

 1 Net acquisition of financial assets 0.0 0.0 0.0 123.1 95.1 137.5 87.7 48.8 57.0 76.8 1

 2 Checkable deposits and currency 0.0 0.0 0.0 -0.4 0.1 -0.1 9.6 -0.1 4.0 3.7 2

 3 Debt securities 0.0 0.0 0.0 20.3 2.6 8.9 7.1 24.2 -1.4 3.5 3

 4 Open market paper 0.0 0.0 0.0 5.5 0.5 -0.4 -2.9 1.2 -4.2 -4.4 4

 5 Treasury securities 0.0 0.0 0.0 -2.5 -4.4 0.7 -3.7 5.4 -1.8 4.9 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 5.3 4.0 4.9 6.3 11.9 -3.0 -6.7 6

 7 Municipal securities 0.0 0.0 0.0 0.2 0.1 -0.4 0.0 -0.2 0.3 -0.0 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 11.7 2.4 4.2 7.4 6.0 7.3 9.7 8

 9 Loans 0.0 0.0 0.0 0.0 -1.0 0.7 0.6 0.3 -0.1 1.0 9

 10 Other loans and advances 0.0 0.0 0.0 -0.3 -0.9 -0.1 -0.1 -0.2 -0.2 0.0 10

 11 Mortgages 0.0 0.0 0.0 0.3 -0.1 0.8 0.7 0.5 0.2 1.0 11

 12 Corporate equities 0.0 0.0 0.0 78.9 112.7 113.6 75.3 47.1 47.4 49.7 12

 13 Mutual fund shares 0.0 0.0 0.0 9.3 10.3 5.3 2.1 2.2 0.4 12.6 13

 14 Miscellaneous assets 0.0 0.0 0.0 15.0 -29.8 9.1 -7.0 -24.9 6.7 6.3 14

 15 Net increase in liabilities 0.0 0.0 0.0 123.4 94.9 136.0 87.2 48.8 56.0 77.1 15

 16 Life insurance reserves 0.0 0.0 0.0 16.3 18.4 19.6 32.2 19.3 30.6 9.4 16

 17 Pension entitlements (1) 0.0 0.0 0.0 101.2 82.7 120.0 45.3 32.9 -8.1 50.1 17

 18 Miscellaneous liabilities 0.0 0.0 0.0 6.0 -6.2 -3.6 9.6 -3.3 33.5 17.6 18

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 18).
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Historical Annuals, 1995-2004, March 10, 2016 25

F.117 Private and Public Pension Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

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

 2 Fixed nonresidential investment 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.4 2

 3 Net acquisition of financial assets (2) 267.9 276.0 312.0 380.4 302.4 310.2 337.7 335.2 481.7 491.5 3

 4 Checkable deposits and currency -1.7 4.0 -0.8 3.8 0.6 4.1 0.7 1.8 0.9 -0.8 4

 5 Time and savings deposits 10.1 6.7 11.1 29.4 -39.6 -23.0 -36.2 -3.9 2.6 -0.5 5

 6 Money market fund shares 7.3 12.9 15.5 2.6 13.9 5.7 -3.8 9.5 -2.3 6.9 6

 7 Security repurchase agreements 3.9 1.6 1.6 10.1 4.8 -5.6 -14.7 -5.5 -2.2 -7.1 7

 8 Debt securities 61.9 87.4 145.2 96.7 192.8 -63.2 -13.5 -17.5 122.2 72.7 8

 9 Open market paper 4.5 2.7 2.1 12.7 9.6 0.1 -4.3 1.7 -10.7 -8.5 9

 10 Treasury securities (3) 7.5 66.2 50.3 24.2 46.8 -6.9 37.8 37.5 32.5 42.0 10

 11 Agency- and GSE-backed securities 25.0 -5.7 24.6 2.4 63.2 16.7 10.0 -6.4 84.8 8.1 11

 12 Municipal securities 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -1.8 12

 13 Corporate and foreign bonds 24.2 25.6 67.3 55.7 73.5 -71.8 -56.9 -49.5 12.1 32.8 13

 14 Loans (mortgages) 1.5 1.5 1.7 4.6 5.1 -3.3 -3.3 0.7 -0.8 -5.6 14

 15 Corporate equities -68.6 -69.1 -134.1 -55.0 -185.8 82.4 223.0 36.0 46.7 39.2 15

 16 Mutual fund shares 79.3 53.8 79.9 81.6 73.2 157.8 74.4 104.4 12.5 90.8 16

 17 Miscellaneous assets 174.2 177.1 191.9 206.5 237.5 155.5 111.1 209.7 302.0 296.0 17

 18 Unallocated insurance contracts (4) -12.1 4.8 14.6 18.0 7.4 -27.4 -18.0 -20.9 73.8 18.4 18

 19 Contributions receivable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 19

 20 Claims of pension fund on sponsor (5) 174.3 146.4 159.4 185.3 227.3 204.5 195.2 227.9 230.3 252.6 20

 21 Other 6.5 20.5 9.5 -9.7 21.1 -2.6 -41.5 1.3 -1.9 28.1 21

 22 Pension entitlements (liabilities) (6) 268.0 276.1 312.1 380.5 302.6 310.3 337.8 335.2 481.7 491.7 22

 Memo:

 23 Household retirement assets (7) 451.3 434.0 495.2 631.1 543.6 661.2 612.4 579.0 661.8 792.4 23

 24 Defined benefit plans 224.0 223.7 234.8 241.8 251.0 255.7 274.4 290.2 311.4 315.3 24

 25 Defined contribution plans 43.8 52.3 77.1 138.6 51.4 54.5 63.3 45.0 170.2 176.1 25

 26 Individual retirement plans (IRAs) (8) 122.2 132.8 151.8 191.5 219.7 228.6 169.9 174.8 160.4 175.9 26

 27 Annuities at life insurance companies (9) 61.3 25.2 31.5 59.3 21.5 122.4 104.8 69.0 19.8 125.0 27

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(8) IRA assets are not included above. See memo item on table F.227 for a sectoral distribution of IRA accounts.

(9) Annuities held in IRAs at life insurance companies are excluded. They are included in line 26.
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26 Historical Annuals, 1995-2004, March 10, 2016

F.118 Private Pension Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 2

 3 Net acquisition of financial assets (2) 89.5 91.2 96.9 154.6 73.0 101.4 105.0 85.9 197.0 195.3 3

 4 Checkable deposits and currency 0.8 0.7 1.4 -0.9 1.3 3.3 -0.8 0.3 0.2 0.1 4

 5 Time and savings deposits 8.1 8.8 11.0 29.7 -39.2 -22.8 -36.4 -3.9 3.0 -4.7 5

 6 Money market fund shares 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 6

 7 Security repurchase agreements 0.3 4.9 1.2 1.2 1.9 -5.1 -8.9 1.3 1.4 0.6 7

 8 Debt securities 16.0 -8.4 43.3 -8.8 102.1 -123.2 -34.9 -7.4 72.1 -0.4 8

 9 Open market paper 0.5 5.4 1.3 2.1 4.2 -4.7 -7.9 2.0 -1.8 0.4 9

 10 Treasury securities -0.5 -5.1 2.0 -13.4 16.8 -9.6 -6.9 -3.2 13.8 -4.4 10

 11 Agency- and GSE-backed securities 1.8 -11.7 6.2 -17.7 38.0 -32.2 2.8 -18.0 38.9 11.3 11

 12 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate and foreign bonds 14.1 3.0 33.8 20.1 43.1 -76.6 -22.9 11.7 21.2 -7.6 13

 14 Loans (mortgages) 0.8 0.7 0.8 -0.2 1.8 0.2 -2.2 0.6 -0.1 -0.2 14

 15 Corporate equities -90.6 -91.3 -151.8 -30.8 -178.4 63.7 105.5 -63.6 -3.4 21.2 15

 16 Mutual fund shares 68.6 51.6 65.2 61.8 65.8 107.1 43.0 76.1 16.1 87.1 16

 17 Miscellaneous assets 79.2 113.0 112.5 100.2 105.6 74.0 45.8 73.1 108.0 91.0 17

 18 Unallocated insurance contracts (3) -12.1 4.8 -1.9 -8.8 -11.1 -22.1 -12.5 -11.4 54.4 6.0 18

 19 Contributions receivable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 19

 20 Claims of pension fund on sponsor (4) 79.7 83.0 95.8 96.5 115.3 117.9 126.9 80.8 56.6 84.3 20

 21 Other 6.2 19.8 10.2 -0.4 19.8 -2.8 -44.0 2.2 -2.8 3.7 21

 22 Pension entitlements (liabilities) (5) 89.6 91.2 96.9 154.6 73.1 101.5 105.1 86.0 197.0 195.4 22

 Memo:

 Net acquisition of financial assets (6)

 23 Defined benefit plans 53.3 47.1 52.6 51.0 51.4 47.8 58.4 57.2 62.9 56.4 23

 24 Defined contribution plans 36.2 44.1 44.2 103.6 21.6 53.6 46.6 28.7 134.1 138.9 24

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.118.b and F.118.c.
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Historical Annuals, 1995-2004, March 10, 2016 27

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets (1) 53.3 47.1 52.6 51.0 51.4 47.8 58.4 57.2 62.9 56.4 1

 2 Checkable deposits and currency 0.3 0.2 0.4 0.6 0.2 1.2 0.6 -0.2 0.1 0.1 2

 3 Time and savings deposits 8.3 14.3 16.8 16.4 -19.7 -23.7 -35.1 -5.5 2.3 -4.8 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements -0.4 3.0 0.1 0.0 -0.3 -9.0 -1.5 -0.6 1.1 0.4 5

 6 Debt securities 21.7 -11.3 36.8 -23.3 89.0 -122.4 -20.2 -36.7 73.4 -10.4 6

 7 Open market paper -0.4 3.0 0.1 0.1 0.4 -7.4 -0.3 -1.4 -0.9 -0.3 7

 8 Treasury securities 1.6 -5.1 3.2 -20.6 18.6 -11.7 -0.4 -12.7 14.3 -6.9 8

 9 Agency- and GSE-backed securities 3.2 -12.3 7.1 -18.2 30.4 -37.3 1.8 -17.9 35.6 7.7 9

 10 Corporate and foreign bonds 17.4 3.1 26.5 15.4 39.6 -66.1 -21.3 -4.7 24.3 -10.8 10

 11 Loans (mortgages) 0.1 0.0 0.5 -0.4 0.0 -1.3 0.6 0.2 -0.1 -0.1 11

 12 Corporate equities -60.2 -63.1 -105.3 -52.5 -128.9 85.1 39.6 -16.0 -34.9 -12.6 12

 13 Mutual fund shares 14.2 7.6 7.3 7.8 5.9 41.7 -17.6 20.2 -41.6 11.2 13

 14 Miscellaneous assets 69.4 96.3 96.1 102.4 105.2 76.1 92.0 95.8 62.7 72.6 14

 15 Unallocated insurance contracts (2) -10.7 2.7 -5.3 -2.5 -11.4 -0.0 -6.3 22.0 8.8 -15.3 15

 16 Contributions receivable 1.6 1.6 5.4 8.0 -7.5 -17.4 -25.8 -4.5 -0.0 -2.0 16

 17 Claims of pension fund on sponsor (3) 79.7 83.0 95.8 96.5 115.3 117.9 126.9 80.8 56.6 84.3 17

 18 Other -1.3 9.0 0.2 0.3 8.9 -24.4 -2.8 -2.6 -2.6 5.5 18

 19 Net increase in pension entitlements (liabilities) (4) 53.4 47.2 52.7 51.1 51.5 47.9 58.5 57.2 62.9 56.6 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

F.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 36.2 44.1 44.2 103.6 21.6 53.6 46.6 28.7 134.1 138.9 1

 2 Checkable deposits and currency 0.6 0.5 1.0 -1.4 1.1 2.1 -1.4 0.5 0.1 0.0 2

 3 Time and savings deposits -0.2 -5.5 -5.8 13.3 -19.5 0.9 -1.3 1.6 0.7 0.0 3

 4 Money market fund shares 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 4

 5 Security repurchase agreements 0.7 1.9 1.1 1.1 2.3 3.9 -7.4 2.0 0.3 0.1 5

 6 Debt securities -5.7 2.8 6.4 14.5 13.1 -0.7 -14.7 29.2 -1.3 10.0 6

 7 Open market paper 1.0 2.4 1.3 2.0 3.8 2.7 -7.7 3.4 -0.9 0.7 7

 8 Treasury securities -2.0 0.0 -1.2 7.2 -1.8 2.1 -6.6 9.5 -0.6 2.5 8

 9 Agency- and GSE-backed securities -1.4 0.6 -0.9 0.5 7.6 5.0 1.1 -0.1 3.3 3.6 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 -3.3 -0.1 7.3 4.8 3.5 -10.6 -1.5 16.3 -3.1 3.3 11

 12 Loans (mortgages) 0.7 0.7 0.3 0.2 1.8 1.5 -2.8 0.4 -0.0 -0.1 12

 13 Corporate equities -30.4 -28.2 -46.5 21.8 -49.5 -21.5 65.9 -47.7 31.5 33.9 13

 14 Mutual fund shares 54.4 44.0 57.9 54.0 59.9 65.4 60.6 55.9 57.8 75.9 14

 15 Miscellaneous assets 9.8 16.6 16.3 -2.2 0.4 -2.2 -46.2 -22.6 45.3 18.4 15

 16 Unallocated insurance contracts (2) -1.4 2.1 3.4 -6.4 0.3 -22.1 -6.2 -33.4 45.6 21.3 16

 17 Contributions receivable 3.8 3.8 3.0 4.8 -10.8 -1.7 1.2 6.0 -0.1 -1.1 17

 18 Other 7.4 10.8 10.0 -0.7 10.9 21.6 -41.2 4.7 -0.2 -1.8 18

 19 Net increase in pension entitlements (liabilities) 36.2 44.1 44.2 103.6 21.6 53.6 46.6 28.7 134.1 138.9 19

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
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28 Historical Annuals, 1995-2004, March 10, 2016

F.119 Federal Government Employee Retirement Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets (1) 73.3 73.6 73.8 76.1 78.2 79.8 82.3 95.2 103.2 95.6 1

 2 Debt securities 15.4 66.5 42.2 44.0 43.8 23.0 70.4 37.8 31.6 46.0 2

 3 Treasury securities (2) 15.2 66.4 42.1 43.6 43.8 22.9 67.9 34.3 29.9 45.6 3

 4 Agency- and GSE-backed securities 0.1 0.1 0.1 0.2 -0.0 0.1 1.6 2.1 0.9 0.1 4

 5 Corporate and foreign bonds 0.1 0.1 0.0 0.1 -0.0 0.0 0.9 1.3 0.7 0.3 5

 6 Corporate equities 2.6 4.2 4.4 4.0 4.4 5.2 -0.6 7.7 16.7 8.6 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 55.3 2.9 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 7

 8 Pension entitlements (liabilities) (4) 73.3 73.6 73.8 76.1 78.2 79.8 82.3 95.2 103.2 95.6 8

 Memo:

 Net acquisition of financial assets (5)

 9 Defined benefit plans 67.2 66.8 67.5 69.4 71.2 72.5 73.3 84.0 89.8 81.3 9

 10 Defined contibution plans 6.1 6.8 6.3 6.7 7.0 7.3 9.0 11.2 13.4 14.3 10

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes marketable and nonmarketable Treasury securities.

(3) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(5) Additional detail on defined benefit plans and defined contribution plans is available on tables F.119.b and F.119.c.
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Historical Annuals, 1995-2004, March 10, 2016 29

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets (2) 67.2 66.8 67.5 69.4 71.2 72.5 73.3 84.0 89.8 81.3 1

 2 Debt securities 20.8 55.1 40.3 41.2 41.1 20.9 60.8 27.7 28.7 41.3 2

 3 Treasury securities (3) 20.8 55.1 40.3 41.2 41.1 20.9 60.8 25.7 26.0 40.3 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.2 1.6 0.5 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 1.1 0.5 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.5 6.2 -0.9 6

 7 Claims of pension fund on sponsor (misc. assets) (4) 46.4 11.8 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 7

 8 Pension entitlements (liabilities) (5) 67.2 66.8 67.5 69.4 71.2 72.5 73.3 84.0 89.8 81.3 8

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 6.1 6.8 6.3 6.7 7.0 7.3 9.0 11.2 13.4 14.3 1

 2 Debt securities -5.4 11.5 1.9 2.7 2.6 2.1 9.6 10.1 2.9 4.8 2

 3 Treasury securities (2) -5.6 11.3 1.8 2.4 2.7 2.0 7.0 8.6 4.0 5.3 3

 4 Agency- and GSE-backed securities 0.1 0.1 0.1 0.2 -0.0 0.1 1.6 0.9 -0.7 -0.4 4

 5 Corporate and foreign bonds 0.1 0.1 0.0 0.1 -0.0 0.0 0.9 0.5 -0.4 -0.2 5

 6 Corporate equities 2.6 4.2 4.4 4.0 4.4 5.2 -0.6 1.1 10.5 9.5 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 8.9 -8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Pension entitlements (liabilities) 6.1 6.8 6.3 6.7 7.0 7.3 9.0 11.2 13.4 14.3 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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30 Historical Annuals, 1995-2004, March 10, 2016

F.120 State and Local Government Employee Retirement Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 2

 3 Net acquisition of financial assets (1) 105.0 111.3 141.3 149.7 151.2 129.0 150.4 154.1 181.5 200.6 3

 4 Checkable deposits and currency -2.6 3.3 -2.1 4.7 -0.8 0.7 1.5 1.6 0.8 -0.9 4

 5 Time and savings deposits 2.0 -2.1 0.2 -0.4 -0.4 -0.2 0.2 -0.0 -0.4 4.2 5

 6 Money market fund shares 0.9 1.7 2.1 0.3 1.8 1.4 2.2 0.1 -2.1 6.3 6

 7 Security repurchase agreements 3.7 -3.3 0.4 8.9 2.8 -0.5 -5.9 -6.9 -3.6 -7.6 7

 8 Debt securities 30.5 29.3 59.8 61.6 47.0 37.0 -48.9 -47.8 18.5 27.0 8

 9 Open market paper 3.9 -2.7 0.7 10.5 5.4 4.8 3.6 -0.3 -9.0 -8.9 9

 10 Treasury securities -7.3 4.9 6.2 -6.0 -13.9 -20.2 -23.1 6.3 -11.2 0.9 10

 11 Agency- and GSE-backed securities 23.1 5.9 18.4 19.9 25.2 48.9 5.5 9.4 45.0 -3.2 11

 12 Municipal securities 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -1.8 12

 13 Corporate and foreign bonds 10.0 22.5 33.5 35.4 30.4 4.8 -35.0 -62.5 -9.9 40.1 13

 14 Loans (mortgages) 0.7 0.8 0.9 4.8 3.3 -3.6 -1.1 0.1 -0.7 -5.4 14

 15 Corporate equities 19.3 18.0 13.3 -28.2 -11.8 13.5 118.1 91.9 33.4 9.3 15

 16 Mutual fund shares 10.7 2.2 14.7 19.8 7.4 50.7 31.4 28.3 -3.6 3.6 16

 17 Miscellaneous assets 39.7 61.3 52.2 78.2 101.9 29.9 52.8 86.8 139.2 164.0 17

 18 Unallocated insurance contracts (2) 0.0 0.0 16.5 26.8 18.5 -5.3 -5.5 -9.5 19.4 12.3 18

 19 Claims of pension fund on sponsor (3) 39.3 60.6 36.3 60.7 82.0 35.0 55.8 97.3 118.9 127.3 19

 20 Other 0.4 0.7 -0.7 -9.3 1.4 0.2 2.5 -0.9 0.9 24.4 20

 21 Pension entitlements (liabilities) (4) 105.0 111.3 141.3 149.8 151.2 129.1 150.4 154.1 181.5 200.7 21

 Memo:

 Net acquisition of financial assets (5)

 22 Defined benefit plans 103.5 109.7 114.7 121.4 128.4 135.4 142.7 149.0 158.8 177.6 22

 23 Defined contibution plans 1.5 1.5 26.6 28.3 22.8 -6.4 7.7 5.1 22.7 23.0 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Additional detail on defined benefit plans and defined contribution plans is available on tables F.120.b and F.120.c.
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Historical Annuals, 1995-2004, March 10, 2016 31

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets (1) 103.5 109.7 114.7 121.4 128.4 135.4 142.7 149.0 158.8 177.6 1

 2 Checkable deposits and currency -2.5 3.3 -2.2 4.7 -0.7 0.7 1.5 1.5 0.8 -0.9 2

 3 Time and savings deposits 2.0 -2.2 0.1 -0.4 -0.3 -0.1 0.2 -0.1 -0.9 4.4 3

 4 Money market fund shares 0.9 1.7 2.1 0.3 1.8 1.4 2.2 0.1 -2.1 6.3 4

 5 Security repurchase agreements 3.7 -3.3 0.4 8.9 2.8 -0.5 -5.9 -6.9 -3.6 -7.6 5

 6 Debt securities 30.4 27.8 59.0 58.4 42.2 39.8 -52.7 -50.8 19.5 24.5 6

 7 Open market paper 3.7 -3.3 0.4 8.9 2.8 6.9 4.0 -3.2 -6.4 -9.8 7

 8 Treasury securities -7.4 4.6 6.2 -6.4 -13.8 -19.8 -24.0 3.8 -10.3 0.1 8

 9 Agency- and GSE-backed securities 23.2 5.5 18.4 19.1 22.9 49.9 1.9 11.8 42.5 -3.9 9

 10 Municipal securities 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -1.8 10

 11 Corporate and foreign bonds 10.1 22.2 33.1 35.1 30.4 4.2 -34.6 -62.4 -9.9 40.0 11

 12 Loans (mortgages) 0.7 0.8 0.9 4.8 3.3 -3.6 -1.1 0.1 -0.7 -5.4 12

 13 Corporate equities 18.2 18.2 9.4 -28.2 -6.2 11.6 115.1 85.2 35.4 5.2 13

 14 Mutual fund shares 10.7 2.2 8.5 12.0 2.1 49.9 25.8 22.2 -9.5 -0.5 14

 15 Miscellaneous assets 39.5 61.3 36.4 60.9 83.3 36.1 57.6 97.7 119.8 151.7 15

 16 Claims of pension fund on sponsor (2) 39.3 60.6 36.3 60.7 82.0 35.0 55.8 97.3 118.9 127.3 16

 17 Other 0.2 0.7 0.1 0.2 1.3 1.1 1.8 0.4 0.9 24.4 17

 18 Pension entitlements (liabilities) (3) 103.6 109.8 114.7 121.5 128.4 135.5 142.7 149.0 158.8 177.7 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

F.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 1.5 1.5 26.6 28.3 22.8 -6.4 7.7 5.1 22.7 23.0 1

 2 Checkable deposits and currency -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.1 -0.0 -0.0 2

 3 Time and savings deposits 0.0 0.1 0.0 0.1 -0.1 -0.1 0.1 0.1 0.5 -0.2 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 0.1 1.6 0.7 3.2 4.7 -2.9 3.8 3.0 -1.0 2.5 6

 7 Open market paper 0.3 0.6 0.3 1.6 2.6 -2.0 -0.4 2.9 -2.6 0.9 7

 8 Treasury securities 0.1 0.3 0.0 0.4 -0.1 -0.5 0.9 2.5 -0.9 0.8 8

 9 Agency- and GSE-backed securities -0.1 0.4 -0.0 0.8 2.3 -0.9 3.7 -2.4 2.5 0.7 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 -0.1 0.4 0.4 0.4 -0.0 0.6 -0.4 -0.1 -0.0 0.0 11

 12 Corporate equities 1.2 -0.2 3.9 -0.0 -5.7 1.8 3.0 6.7 -2.0 4.2 12

 13 Mutual fund shares 0.0 0.0 6.2 7.8 5.3 0.9 5.6 6.1 5.9 4.2 13

 14 Miscellaneous assets 0.2 0.0 15.8 17.3 18.6 -6.2 -4.7 -10.9 19.4 12.3 14

 15 Unallocated insurance contracts (2) 0.0 0.0 16.5 26.8 18.5 -5.3 -5.5 -9.5 19.4 12.3 15

 16 Other 0.2 0.0 -0.7 -9.5 0.1 -0.9 0.7 -1.4 -0.0 0.0 16

 17 Pension entitlements (liabilities) 1.5 1.5 26.6 28.3 22.8 -6.4 7.7 5.1 22.7 23.0 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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32 Historical Annuals, 1995-2004, March 10, 2016

F.121 Money Market Mutual Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 1

 2 Foreign deposits 4.0 3.4 0.1 6.9 11.0 43.5 30.7 -6.8 -37.0 0.8 2

 3 Checkable deposits and currency -1.0 2.4 2.6 -2.5 -2.3 4.5 4.0 -6.6 -0.5 2.6 3

 4 Time and savings deposits 20.9 30.4 28.6 12.6 31.5 -9.2 84.7 -22.6 -58.1 16.1 4

 5 Security repurchase agreements 19.0 16.0 22.8 12.2 1.7 44.3 50.4 44.4 -26.1 -18.4 5

 6 Debt securities 86.5 88.8 87.5 248.9 185.7 145.4 268.5 -29.5 -73.7 -144.8 6

 7 Open market paper 48.4 38.4 62.1 79.1 110.1 104.0 14.3 -37.5 -133.7 -65.9 7

 8 Treasury securities 3.8 20.3 -4.0 21.7 -4.0 -12.5 47.3 3.3 -10.6 -29.2 8

 9 Agency- and GSE-backed securities 13.7 11.0 -5.5 76.1 18.6 -2.2 155.8 -19.0 7.7 -62.1 9

 10 Municipal securities 14.3 16.8 22.5 26.2 18.4 32.6 27.3 16.4 23.0 13.5 10

 11 Corporate and foreign bonds 6.4 2.4 12.5 45.8 42.6 23.5 23.8 7.2 39.9 -1.1 11

 12 Miscellaneous assets 11.6 4.4 14.3 3.4 23.3 8.8 -10.1 -2.3 -17.1 7.3 12

 13 Net share issues (liabilities) 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.116).

F.122 Mutual Funds (1)

Billions of dollars

 1 Gross saving 8.7 4.9 6.2 -33.3 -41.8 -51.7 -34.3 -20.5 -17.8 -26.0 1

 2 Net acquisition of financial assets 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 2

 3 Security repurchase agreements 7.1 -2.7 10.3 13.1 9.9 18.8 -28.9 10.9 12.9 18.1 3

 4 Debt securities 52.3 48.1 77.5 124.6 45.5 22.0 133.7 138.0 138.1 105.0 4

 5 Open market paper 7.1 -3.1 10.6 13.1 9.9 18.8 -28.9 -7.7 13.1 18.0 5

 6 Treasury securities 13.4 -18.0 10.6 4.6 -23.7 10.2 -12.0 11.0 9.9 12.5 6

 7 Agency- and GSE-backed securities 5.5 33.1 8.9 21.6 36.2 12.6 86.8 60.3 24.4 7.5 7

 8 Municipal securities 3.2 3.1 6.5 22.8 -3.2 -9.0 22.6 23.8 13.0 4.1 8

 9 Corporate and foreign bonds 23.1 33.0 40.9 62.5 26.3 -10.5 65.2 50.6 77.8 62.9 9

 10 Loans (other loans and advances) 0.2 0.8 3.4 2.7 2.9 4.3 -7.3 0.5 -1.1 9.6 10

 11 Corporate equities 87.4 193.0 166.8 143.3 136.4 193.1 109.8 31.4 137.2 158.5 11

 12 Miscellaneous assets 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 12

 13 Net share issues (liabilities) 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 13

 14 Discrepancy 8.7 4.9 6.2 -33.3 -41.8 -51.7 -34.3 -20.5 -17.8 -26.0 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.116).

F.123 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Net acquisition of financial assets 8.0 0.3 -11.2 -6.8 -4.9 -5.5 1.9 18.0 43.6 32.3 1

 2 Debt securities 8.5 2.9 -1.1 4.9 9.6 -5.6 3.2 8.6 35.4 10.7 2

 3 Treasury securities -1.7 0.1 -1.4 -1.0 -1.2 -0.9 0.1 -2.8 0.6 2.3 3

 4 Municipal securities 4.8 1.0 0.3 1.3 9.0 -2.0 7.0 11.3 3.2 -0.1 4

 5 Corporate and foreign bonds 5.4 1.9 -0.0 4.7 1.8 -2.7 -3.8 0.1 31.6 8.5 5

 6 Corporate equities -0.5 -2.6 -10.0 -11.8 -14.5 0.1 -1.3 9.3 8.2 21.6 6

 7 Net share issues (liabilities) 8.0 0.3 -11.2 -6.8 -4.9 -5.5 1.9 18.0 43.6 32.3 7

 Exchange-traded funds

 8 Net acquisition of financial assets 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 8

 9 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 0.7 3.8 9

 10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 0.1 2.8 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 1.8 0.6 1.0 12

 13 Corporate equities 0.4 1.1 3.4 6.0 12.2 42.4 31.0 41.6 15.1 52.6 13

 14 Net share issues (liabilities) 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 14
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Historical Annuals, 1995-2004, March 10, 2016 33

F.124 Government-Sponsored Enterprises (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 1.8 1.8 2.0 2.0 2.7 2.7 2.8 2.8 3.4 3.8 1

 2 Fixed nonresidential investment 0.4 0.6 0.5 0.5 0.4 0.4 0.4 0.5 0.6 0.7 2

 3 Net acquisition of financial assets 115.1 91.7 111.6 305.0 317.4 220.2 345.5 241.7 245.6 87.9 3

 4 Checkable deposits and currency 0.2 -0.7 1.3 2.9 7.2 -7.7 2.3 8.1 14.0 10.4 4

 5 Time and savings deposits 0.0 0.0 0.0 -1.7 5.2 0.5 8.1 -5.1 -8.5 6.5 5

 6 Federal funds and security repos 20.5 -11.8 -4.1 -13.4 12.7 -14.7 24.9 -7.2 -19.5 17.6 6

 7 Debt securities 77.9 74.9 80.3 217.4 178.7 182.5 240.8 157.9 124.5 -11.6 7

 8 Open market paper -0.8 9.6 -1.1 28.6 -32.4 10.7 2.7 -23.5 -3.7 -0.9 8

 9 Treasury securities 6.1 -12.9 7.1 -0.7 5.8 0.6 0.4 12.1 -12.3 -0.6 9

 10 Agency- and GSE-backed securities 60.0 65.8 67.6 158.4 172.9 149.2 206.9 131.7 101.9 -202.4 10

 11 Municipal securities 2.7 4.3 0.5 6.5 3.6 2.9 6.2 4.0 5.0 0.3 11

 12 Corporate and foreign bonds 9.9 8.1 6.0 24.6 28.8 19.1 24.6 33.5 33.5 192.0 12

 13 Loans 17.5 22.4 26.5 99.9 108.6 63.6 63.9 66.0 116.6 60.5 13

 14 Other loans and advances 7.2 29.4 35.4 93.5 108.1 45.3 28.3 8.9 31.1 73.5 14

 15 Sallie Mae -3.1 -1.1 -1.0 -0.3 -0.3 0.1 -0.0 -0.4 -0.1 -0.3 15

 16 Farm Credit System 3.9 1.4 0.0 3.3 0.9 3.1 2.9 2.0 0.0 -0.2 16

 17 FHLB loans 6.4 29.1 36.4 90.4 107.6 42.1 25.4 7.2 31.2 74.1 17

 18 Mortgages 6.3 -6.4 -4.7 7.6 -5.0 22.2 33.2 59.8 101.7 7.5 18

 19 Home 5.4 -6.6 -4.7 5.6 -10.4 16.1 21.7 45.6 94.2 -10.5 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 5.4 -6.6 -4.7 5.6 -10.4 16.1 21.7 45.6 94.2 -10.5 21

 22 Multifamily residential 0.5 -0.8 -1.5 -0.0 4.3 4.5 8.2 8.5 12.1 14.3 22

 23 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other 0.5 -0.8 -1.5 -0.0 4.3 4.5 8.2 8.5 12.1 14.3 24

 25 Farm 0.3 1.0 1.5 2.0 1.1 1.6 3.3 5.7 -4.6 3.8 25

 26 Consumer credit (3) 4.0 -0.6 -4.2 -1.2 5.4 -3.9 2.4 -2.6 -16.3 -20.6 26

 27 Miscellaneous assets -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 27

 28 Net increase in liabilities 111.3 90.6 106.6 302.5 317.3 234.7 356.9 259.8 215.7 76.4 28

 29 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.8 0.9 4.7 -1.2 29

 30 Debt securities (GSE issues) (4) 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 30

 31 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 32

 33 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Corporate equities -0.6 -0.4 -1.4 2.6 4.0 -0.3 1.6 -0.2 1.7 9.3 34

 35 Miscellaneous liabilities 6.0 0.6 8.9 21.0 -5.5 -0.1 50.3 39.3 -41.6 -6.7 35

 36 Discrepancy -2.4 0.1 -3.4 -0.9 2.3 16.9 13.8 20.4 -27.1 -8.4 36

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.125) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (F.124).

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.125 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Net acquisition of financial assets 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 1

 2 Home mortgages 93.8 135.4 109.3 182.1 264.6 190.9 322.9 315.2 308.3 43.8 2

 3 Multifamily residential mortgages 4.5 5.6 5.3 10.5 9.2 8.5 15.6 12.9 26.5 -3.0 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 0.1 -0.0 0.0 0.1 0.8 0.3 0.0 -1.3 0.6 -0.1 5

 6 Net increase in pool securities (liabilities)(2) 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.125) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.124). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
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34 Historical Annuals, 1995-2004, March 10, 2016

F.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 0.5 1.4 2.1 2.6 2.3 1.6 1.4 1.2 1.1 1.0 1

 2 Fixed nonresidential investment 1.8 6.7 4.2 4.4 -0.6 -1.6 1.7 0.1 0.9 0.2 2

 3 Net acquisition of financial assets 126.5 109.4 135.3 257.0 159.3 178.7 250.5 258.5 264.6 477.7 3

 4 Debt securities 20.8 -4.6 -21.7 25.2 41.4 8.9 33.5 74.8 83.7 -11.3 4

 5 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.1 -0.1 0.8 1.3 5.5 5

 6 Agency- and GSE-backed securities (1) 20.8 -4.6 -21.7 25.2 41.4 8.8 33.6 74.0 82.4 -16.8 6

 7 Loans 89.9 104.8 136.1 227.1 133.2 147.3 189.3 168.0 150.9 459.1 7

 8 Other loans and advances 6.0 8.3 26.3 25.7 -0.1 14.1 23.5 16.2 5.3 18.9 8

 9 Mortgages (2) 16.9 36.1 62.8 127.9 70.6 65.5 96.4 119.2 167.2 463.5 9

 10 Home 10.8 21.6 38.4 68.1 31.9 31.1 79.1 81.6 123.6 390.2 10

 11 Multifamily residential 2.1 3.8 4.6 12.8 8.5 5.4 5.4 6.6 7.3 10.3 11

 12 Commercial 4.0 10.7 19.8 47.1 30.2 29.0 11.9 31.0 36.3 63.0 12

 13 Consumer credit 67.0 60.4 47.0 73.5 62.7 67.7 69.4 32.6 -21.6 -23.2 13

 14 Trade credit 15.8 9.1 20.9 4.0 -17.8 16.1 12.6 -5.6 8.8 10.3 14

 15 Miscellaneous assets (funding agreements) (3) 0.0 0.0 0.0 0.7 2.5 6.3 15.2 21.4 21.2 19.7 15

 16 Net increase in liabilities 127.8 114.6 137.4 258.8 156.3 175.6 250.8 257.4 264.4 477.0 16

 17 Commercial paper 37.3 45.4 89.4 125.7 139.0 125.0 84.9 -41.7 -36.0 -3.9 17

 18 Corporate bonds (net) (4) 90.5 69.2 48.0 133.2 17.4 50.5 165.8 299.2 300.5 480.9 18

 19 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Memo:

 Securitized assets not included above

 20 Consumer leases (5) 1.3 5.3 2.1 1.8 -2.9 -3.2 0.3 -1.1 -0.2 -0.7 20

 21 REIT assets (6) -1.3 -0.3 3.7 2.9 -2.4 -1.5 -3.3 8.0 15.6 59.6 21

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Funding agreements with life insurance companies.

(4) Net issuance less net acquisition of corporate bonds held as assets.

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

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

(6) Included in table F.128.
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Historical Annuals, 1995-2004, March 10, 2016 35

F.127 Finance Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 25.0 29.1 32.0 40.5 52.2 50.2 63.9 76.0 73.5 66.7 1

 2 Fixed nonresidential investment 27.8 32.0 34.1 43.2 55.7 56.7 48.8 52.5 45.7 55.9 2

 3 Net acquisition of financial assets 69.3 52.5 41.4 60.2 157.2 196.2 91.1 141.6 233.9 178.5 3

 4 Checkable deposits and currency 0.8 2.6 -0.4 1.1 1.5 2.6 -0.7 2.2 1.9 -0.8 4

 5 Time and savings deposits 3.6 2.6 3.7 1.3 7.7 3.9 7.2 4.0 16.4 -1.8 5

 6 Debt securities (corporate and foreign bonds) 13.0 15.5 9.7 7.1 27.0 18.8 19.0 18.1 53.3 -7.7 6

 7 Loans 46.5 27.1 14.0 84.9 106.9 136.5 49.9 103.7 122.9 214.9 7

 8 Other loans and advances 26.7 3.1 -0.6 36.8 54.2 61.1 -16.0 3.8 -2.3 9.8 8

 9 Mortgages 2.1 21.2 1.9 32.3 34.4 42.6 20.3 72.3 39.7 105.8 9

 10 Consumer credit 17.7 2.8 12.6 15.8 18.3 32.8 45.5 27.5 85.5 99.3 10

 11 U.S. direct investment abroad 2.5 7.3 9.0 0.5 8.5 -0.6 -0.6 0.8 1.8 -8.9 11

 12 Miscellaneous assets 2.9 -2.7 5.5 -34.7 5.6 35.2 16.4 12.8 37.7 -17.2 12

 13 Net increase in liabilities 69.3 59.1 29.6 51.3 148.5 221.1 66.0 135.4 239.8 189.4 13

 14 Debt securities 49.7 46.1 29.3 54.9 61.8 82.6 -9.7 49.4 105.3 104.3 14

 15 Open market paper -2.9 9.4 24.6 30.7 -2.9 9.7 -77.7 -14.6 -2.7 30.2 15

 16 Corporate bonds 52.6 36.8 4.7 24.2 64.7 72.9 68.1 64.0 107.9 74.1 16

 17 Loans -1.7 8.5 -0.0 6.0 13.8 3.6 20.5 16.8 5.8 30.0 17

 18 Depository institution loans n.e.c. -1.7 8.5 -0.0 6.0 13.8 3.6 20.5 16.8 5.8 30.0 18

 19 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Taxes payable 0.7 0.8 0.8 0.8 0.8 1.0 1.2 1.4 1.6 1.8 20

 21 Foreign direct investment in U.S. 0.8 1.5 1.2 3.5 6.9 10.9 6.2 0.1 18.8 13.0 21

 22 Miscellaneous liabilities 19.8 2.1 -1.8 -13.9 65.2 122.9 47.7 67.7 108.4 40.3 22

 23 Investment by parent 9.3 3.5 8.6 -9.1 58.5 90.4 17.9 23.1 23.4 54.9 23

 24 Other 10.5 -1.4 -10.3 -4.8 6.7 32.5 29.8 44.7 85.0 -14.7 24

 25 Discrepancy -2.8 3.6 -14.0 -11.6 -12.1 18.4 -10.1 17.3 33.8 21.8 25

 Memo:

 26 Consumer leases not included above (2) 13.4 12.3 5.6 -2.2 6.3 6.6 -2.1 -17.6 -10.7 -4.9 26

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (5), table F.126.
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36 Historical Annuals, 1995-2004, March 10, 2016

F.128 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 1.0 1.5 3.3 -0.8 -2.3 -10.0 3.4 0.0 -2.2 -4.0 1

 2 Fixed nonresidential investment 2.6 2.8 3.7 4.9 5.1 5.5 5.8 3.5 3.8 11.1 2

 3 Multifamily residential investment 2.7 4.4 11.3 11.4 1.8 3.8 4.1 4.6 -0.2 5.5 3

 4 Net acquisition of financial assets 2.3 4.9 26.1 6.4 -0.1 -3.3 10.9 24.8 34.4 101.8 4

 5 Checkable deposits and currency 0.0 2.2 1.1 0.8 0.3 -0.0 1.1 -0.1 3.8 3.0 5

 6 Debt securities 0.6 4.6 11.1 -8.5 1.3 0.8 8.7 12.1 5.6 32.9 6

 7 Agency- and GSE-backed securities -0.2 3.2 9.0 -8.1 -1.8 0.6 8.3 11.5 -2.9 15.8 7

 8 Corporate and foreign bonds 0.8 1.4 2.1 -0.4 3.1 0.2 0.4 0.6 8.5 17.1 8

 9 Loans (mortgages) 0.8 -0.3 9.1 3.4 -0.4 -6.0 0.4 10.2 20.7 54.7 9

 10 Home 1.9 1.1 6.0 0.8 -1.2 -3.5 0.8 10.1 18.5 51.1 10

 11 Multifamily residential -0.6 -0.4 0.9 0.1 0.2 -0.6 -0.3 -0.1 0.2 0.1 11

 12 Commercial -0.5 -1.0 2.2 2.5 0.6 -2.0 -0.1 0.2 2.0 3.5 12

 13 Miscellaneous assets 1.0 -1.7 4.9 10.7 -1.3 1.9 0.6 2.6 4.3 11.1 13

 14 Net increase in liabilities 14.7 29.5 92.2 86.4 19.2 4.3 19.1 52.8 52.6 153.0 14

 15 Security repurchase agreements 1.2 2.8 11.2 -9.8 -0.3 -2.5 9.2 14.6 5.5 28.7 15

 16 Debt securities 0.2 1.3 14.9 21.9 8.2 2.9 4.6 14.0 23.8 61.9 16

 17 Open market paper -0.0 0.0 0.0 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds 0.2 1.3 14.8 21.7 8.4 2.9 4.6 14.0 23.8 61.9 18

 19 Loans 4.3 10.6 24.8 40.8 0.1 -0.1 -0.8 13.0 8.5 32.7 19

 20 Depository institution loans n.e.c. -1.0 2.7 9.9 16.0 -7.1 -4.8 -3.1 1.8 -0.4 7.2 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 Mortgages 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 22

 23 Corporate equity issues 7.6 12.3 32.5 19.8 6.6 2.2 6.1 8.4 13.3 21.5 23

 24 Miscellaneous liabilities 1.4 2.5 8.8 13.6 4.6 1.8 0.1 2.8 1.5 8.3 24

 25 Discrepancy 8.1 18.9 54.4 62.9 10.1 -11.7 1.8 19.9 12.5 30.6 25

 Memo:

 26 Securitized assets included above -1.3 -0.3 3.7 2.9 -2.4 -1.5 -3.3 8.0 15.6 59.6 26

 27 Agency- and GSE-backed securities -2.3 0.3 0.4 0.1 -1.3 -0.2 -3.1 -0.3 0.0 0.0 27

 28 Home mortgages 0.9 -0.8 3.1 1.8 -2.0 -0.2 0.1 7.8 15.7 57.9 28

 29 Multifamily residential mortgages 0.0 0.3 0.2 0.4 -0.4 -0.2 -0.0 -0.0 -0.0 -0.0 29

 30 Commercial mortgages 0.0 0.0 0.0 0.6 1.3 -0.9 -0.2 0.6 -0.1 1.7 30

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.128.e and F.128.m.
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Historical Annuals, 1995-2004, March 10, 2016 37

F.128.e Equity Real Estate Investment Trusts

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 1.5 3.0 19.5 -0.9 -1.3 0.6 -0.1 0.9 8.0 9.8 1

 2 Checkable deposits and currency 0.0 1.9 0.9 0.7 0.2 0.1 1.0 -0.3 3.5 0.6 2

 3 Debt securities (corporate and foreign bonds) 0.1 0.2 0.3 -0.1 0.2 0.4 -0.5 -0.2 0.3 0.3 3

 4 Loans (mortgages) -0.5 -0.7 1.8 1.6 0.4 -1.4 -0.6 -0.7 0.5 0.6 4

 5 Home 0.0 0.0 0.1 0.0 -0.2 0.0 -0.0 -0.0 -0.0 -0.0 5

 6 Multifamily residential -0.2 -0.1 0.3 0.0 -0.0 -0.0 -0.2 -0.2 0.0 -0.1 6

 7 Commercial -0.3 -0.6 1.4 1.6 0.6 -1.4 -0.4 -0.5 0.5 0.7 7

 8 Miscellaneous assets 1.9 1.6 16.5 -3.1 -2.0 1.6 -0.1 2.2 3.7 8.2 8

 9 Net increase in liabilities 6.3 15.3 53.1 59.2 8.3 6.2 3.5 21.7 14.6 48.3 9

 10 Debt securities (corporate bonds) 0.2 1.0 11.7 17.2 4.7 4.2 5.1 7.1 5.2 14.2 10

 11 Loans 4.4 10.4 24.1 39.7 -2.2 0.5 -1.0 11.9 8.5 27.7 11

 12 Depository institution loans n.e.c. -0.9 2.5 9.2 14.9 -9.4 -4.3 -3.2 0.7 -0.4 2.2 12

 13 Mortgages 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 13

 14 Multifamily residential 1.8 2.6 4.9 8.2 2.1 3.1 1.5 1.7 0.5 3.6 14

 15 Commercial 3.6 5.3 10.0 16.6 5.1 1.7 0.7 9.5 8.4 21.9 15

 16 Miscellaneous liabilities 1.8 3.9 17.3 2.4 5.8 1.6 -0.6 2.6 0.8 6.3 16

F.128.m Mortgage Real Estate Investment Trusts

Billions of dollars

 1 Net acquisition of financial assets 0.8 1.9 6.6 7.3 1.2 -4.0 11.0 23.8 26.4 92.0 1

 2 Checkable deposits and currency 0.0 0.3 0.1 0.1 0.1 -0.1 0.1 0.2 0.2 2.4 2

 3 Debt securities 0.5 4.4 10.8 -8.4 1.2 0.4 9.2 12.3 5.4 32.6 3

 4 Agency- and GSE-backed securities -0.2 3.2 9.0 -8.1 -1.8 0.6 8.3 11.5 -2.9 15.8 4

 5 Corporate and foreign bonds 0.7 1.2 1.8 -0.3 2.9 -0.2 0.9 0.8 8.2 16.8 5

 6 Loans (mortgages) 1.3 0.5 7.2 1.8 -0.8 -4.6 1.0 10.9 20.2 54.2 6

 7 Home 1.8 1.1 5.8 0.8 -1.0 -3.5 0.8 10.1 18.5 51.1 7

 8 Multifamily residential -0.4 -0.2 0.6 0.0 0.2 -0.5 -0.1 0.0 0.2 0.2 8

 9 Commercial -0.2 -0.4 0.8 0.9 0.0 -0.6 0.3 0.7 1.5 2.9 9

 10 Miscellaneous assets -0.9 -3.3 -11.6 13.9 0.7 0.3 0.7 0.5 0.6 2.9 10

 11 Net increase in liabilities 0.8 1.9 6.6 7.3 4.4 -4.1 9.6 22.7 24.7 83.2 11

 12 Security repurchase agreements 1.2 2.8 11.2 -9.8 -0.3 -2.5 9.2 14.6 5.5 28.7 12

 13 Debt securities 0.0 0.3 3.1 4.7 3.5 -1.3 -0.5 6.9 18.6 47.7 13

 14 Open market paper -0.0 0.0 0.0 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 0.0 0.3 3.1 4.6 3.7 -1.3 -0.5 6.9 18.6 47.7 15

 16 Loans -0.1 0.2 0.7 1.1 2.3 -0.5 0.2 1.0 -0.0 4.9 16

 17 Depository institution loans n.e.c. -0.1 0.2 0.7 1.1 2.3 -0.5 0.2 1.0 -0.0 4.9 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 Miscellaneous liabilities -0.4 -1.4 -8.5 11.2 -1.1 0.2 0.7 0.2 0.7 1.9 19

 Memo:

 20 Securitized assets included above -1.3 -0.3 3.7 2.9 -2.4 -1.5 -3.3 8.0 15.6 59.6 20

 21 Agency- and GSE-backed securities -2.3 0.3 0.4 0.1 -1.3 -0.2 -3.1 -0.3 0.0 0.0 21

 22 Home mortgages 0.9 -0.8 3.1 1.8 -2.0 -0.2 0.1 7.8 15.7 57.9 22

 23 Multifamily residential mortgages 0.0 0.3 0.2 0.4 -0.4 -0.2 -0.0 -0.0 -0.0 -0.0 23

 24 Commercial mortgages 0.0 0.0 0.0 0.6 1.3 -0.9 -0.2 0.6 -0.1 1.7 24
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38 Historical Annuals, 1995-2004, March 10, 2016

F.129 Security Brokers and Dealers

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 3.6 6.6 10.0 -12.0 -9.9 -29.7 -7.8 11.2 14.5 22.3 1

 2 Fixed nonresidential investment 8.2 8.5 9.2 12.6 14.5 18.2 18.0 14.1 13.0 14.9 2

 3 Net acquisition of financial assets 216.8 151.3 241.8 50.1 125.2 292.2 355.7 -23.4 296.8 510.8 3

 4 Checkable deposits and currency 1.7 1.9 6.0 3.7 3.3 1.6 16.8 -2.9 2.9 15.7 4

 5 Security repurchase agreements 103.4 83.1 98.9 -91.9 45.4 71.8 111.5 106.9 19.1 278.9 5

 6 Debt securities 89.8 -17.1 11.4 7.4 -34.8 66.8 91.1 29.7 79.5 -34.4 6

 7 Open market paper 10.9 1.6 0.6 3.8 -2.0 13.2 9.0 -4.7 5.9 -1.3 7

 8 Treasury securities 61.0 -31.1 7.5 21.2 -58.4 39.4 13.1 -13.7 41.7 -82.4 8

 9 Agency- and GSE-backed securities 9.0 1.2 -4.8 0.5 15.0 -2.3 14.1 14.1 -8.1 23.5 9

 10 Municipal securities -2.7 -1.9 2.4 -0.1 -1.2 -0.7 7.7 2.0 3.8 7.1 10

 11 Corporate and foreign bonds 11.7 13.1 5.7 -17.9 11.9 17.2 47.3 32.1 36.2 18.7 11

 12 Loans (other loans and advances) 3.9 17.2 40.2 20.9 75.3 9.3 -37.4 -49.5 34.4 86.7 12

 13 Corporate equities 7.7 -1.9 2.4 -6.0 7.7 9.6 17.3 3.2 4.1 15.2 13

 14 U.S. direct investment abroad 0.1 -0.1 0.7 3.4 4.2 5.5 17.5 5.4 11.6 33.6 14

 15 Miscellaneous assets 10.2 68.3 82.1 112.5 24.0 127.6 139.1 -116.2 145.0 115.0 15

 16 Net increase in liabilities 206.0 144.7 232.0 44.0 125.3 279.9 357.8 -17.1 275.9 506.0 16

 17 Security repurchase agreements 175.5 70.6 162.8 -75.4 52.1 156.8 167.8 125.3 165.5 297.5 17

 18 Debt securities (corporate bonds) -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 18

 19 Loans 30.1 47.5 33.0 69.7 59.6 110.8 36.6 -66.3 85.5 115.8 19

 20 Depository institution loans n.e.c. (1) 0.5 3.0 3.1 -2.8 2.3 -0.3 -4.8 -6.0 6.3 1.6 20

 21 Other loans and advances 29.6 44.5 29.9 72.5 57.3 111.1 41.4 -60.3 79.2 114.1 21

 22 Corporate equity issues -8.1 -6.5 -5.9 2.5 7.6 -4.2 6.7 10.2 -8.0 2.6 22

 23 Trade payables 1.1 4.0 5.7 -1.0 11.9 5.1 3.3 -1.8 -9.2 7.8 23

 24 Taxes payable -0.1 0.1 0.1 -0.1 0.9 -0.1 -0.2 -0.5 0.4 0.4 24

 25 Foreign direct investment in U.S. 1.9 3.6 5.9 -0.6 5.2 3.1 5.6 -3.6 2.9 3.1 25

 26 Miscellaneous liabilities 11.1 27.0 21.3 43.1 3.9 -7.0 139.8 -79.4 35.9 67.8 26

 27 Investment by parent companies 24.4 41.2 38.5 73.7 35.0 3.6 8.2 -2.4 30.4 10.5 27

 28 Other -13.3 -14.1 -17.2 -30.6 -31.1 -10.6 131.7 -77.0 5.5 57.2 28

 29 Proprietors’ net investment -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 29

 30 Discrepancy -15.4 -8.5 -9.0 -30.7 -24.4 -60.1 -23.7 3.3 -19.3 2.6 30

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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Historical Annuals, 1995-2004, March 10, 2016 39

F.130 Holding Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross saving 39.9 49.2 51.9 49.7 66.9 65.1 74.3 88.7 89.2 80.5 1

 2 Fixed nonresidential investment 16.5 17.8 18.3 20.6 21.8 21.0 19.9 24.5 23.2 21.8 2

 3 Net acquisition of financial assets 54.4 49.0 65.9 125.2 60.8 104.5 132.2 124.3 173.7 284.9 3

 4 Time and savings deposits -0.1 -0.3 -0.2 0.6 -0.3 -0.1 0.1 1.0 -0.1 0.2 4

 5 Security repurchase agreements -0.2 0.1 0.6 4.3 1.1 0.1 -0.9 -0.6 0.5 -3.9 5

 6 Debt securities -0.8 3.7 5.5 -2.6 7.7 -11.2 3.9 2.2 3.7 2.5 6

 7 Treasury securities -1.2 0.6 -0.1 -3.1 7.9 -7.9 0.4 0.1 1.4 -0.8 7

 8 Agency- and GSE-backed securities -0.2 0.3 0.6 1.1 -1.3 -0.5 1.4 4.5 0.9 1.9 8

 9 Corporate and foreign bonds 0.6 2.8 5.0 -0.7 1.2 -2.8 2.1 -2.4 1.3 1.3 9

 10 Loans (other loans and advances) 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 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 55.0 45.3 60.1 121.2 53.8 116.7 128.7 120.8 164.6 288.6 12

 13 Net trans. with depository institution subs. 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 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 -1.4 4.0 3.8 2.5 15

 16 Net trans. with finance company subs. 3.4 2.9 3.6 0.9 47.9 25.3 35.7 16.2 20.8 52.3 16

 17 Net trans. with broker and dealer subs. 6.5 -10.3 3.5 38.2 -31.0 2.6 -15.8 -22.5 19.7 2.1 17

 18 Net trans. with foreign subs. 3.8 4.1 -0.8 -0.6 4.1 -32.5 -3.3 -0.6 44.1 -25.6 18

 19 Other 2.3 14.8 22.4 21.6 8.3 26.6 53.1 57.3 56.3 38.2 19

 20 Net increase in liabilities 29.1 13.7 27.6 88.5 13.7 59.1 74.8 48.1 105.5 224.2 20

 21 Security repurchase agreements 0.2 0.5 0.6 4.8 1.2 -1.5 -1.0 1.7 1.5 -5.2 21

 22 Debt securities 14.4 2.0 19.0 24.9 25.8 23.2 23.6 20.3 35.4 59.5 22

 23 Commercial paper -1.4 1.9 6.0 7.8 9.1 1.2 -5.1 -2.3 -6.0 10.8 23

 24 Corporate bonds 15.8 0.1 13.0 17.1 16.7 22.0 28.7 22.6 41.4 48.7 24

 25 Loans (depository institution loans n.e.c.) -0.6 10.6 -0.3 10.1 13.4 4.5 -6.3 -0.7 15.5 -3.8 25

 26 Corporate equity issues -11.3 -17.5 -30.9 -15.0 -13.8 -16.5 -15.3 -15.4 -9.6 11.7 26

 27 Miscellaneous liabilities 26.4 18.0 39.2 63.8 -12.9 49.5 73.7 42.1 62.8 162.0 27

 28 Equity, etc. 12.8 -11.2 -12.8 32.9 -40.9 16.8 12.1 -13.1 2.8 144.0 28

 29 Other 13.7 29.3 52.0 30.9 28.0 32.7 61.6 55.2 59.9 17.9 29

 30 Discrepancy -1.8 -3.9 -4.8 -7.6 -1.9 -1.3 -3.0 -12.0 -2.1 -2.0 30

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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40 Historical Annuals, 1995-2004, March 10, 2016

F.131 Funding Corporations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net acquisition of financial assets 5.9 145.6 138.2 140.1 272.5 86.7 37.7 -60.0 57.5 36.9 1

 2 Money market fund shares 1.2 65.6 37.7 95.7 91.4 28.5 154.5 -18.5 -75.0 -121.1 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities -20.0 13.3 50.1 -3.7 110.2 8.9 -118.8 -79.1 115.3 116.9 4

 5 Open market paper -29.8 0.5 53.5 -8.2 114.0 17.7 -164.6 -64.7 60.4 131.4 5

 6 Corporate and foreign bonds 9.8 12.8 -3.4 4.5 -3.8 -8.9 45.8 -14.4 54.9 -14.5 6

 7 Loans (other loans and advances) 0.2 1.5 1.0 0.9 2.5 2.7 -0.1 -1.2 -0.9 -0.3 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 24.5 65.2 49.4 47.2 68.4 46.7 2.1 38.7 18.2 41.5 9

 10 Investment in foreign banking offices 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 10

 11 Investment in brokers and dealers 17.8 51.5 35.0 35.5 65.9 1.1 24.0 20.2 10.7 8.4 11

 12 Net increase in liabilities 5.9 145.6 138.2 140.1 272.5 86.7 37.7 -60.0 57.5 36.9 12

 13 Debt securities 34.9 63.8 79.9 40.0 91.6 -1.6 -103.6 -10.7 -3.2 -2.9 13

 14 Open market paper 10.5 34.5 49.4 6.0 34.2 -3.5 -125.8 -41.2 -18.5 -15.2 14

 15 Corporate bonds 24.4 29.2 30.6 34.0 57.4 1.9 22.2 30.5 15.4 12.2 15

 16 Loans 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. (3) 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 (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Corporate equities (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Foreign direct investment in U.S. -10.2 2.9 -21.6 21.6 51.0 15.1 1.1 -0.4 0.2 0.3 20

 21 Miscellaneous liabilities -18.8 78.9 79.8 78.5 129.9 73.3 140.2 -48.9 60.4 39.6 21

 22 Securities loaned (net) -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 22

 23 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other (net) -13.3 19.0 22.6 8.5 113.6 -15.4 70.1 -46.1 -42.1 -47.3 24

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities, and funds associated with

 the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
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Historical Annuals, 1995-2004, March 10, 2016 41

F.132 Rest of the World

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Foreign income from U.S. 1147.7 1228.1 1363.2 1444.3 1636.6 1924.1 1785.6 1825.4 1977.9 2324.2 1

 2 U.S. imports 902.6 964.0 1055.8 1115.7 1248.6 1472.6 1395.4 1429.0 1543.9 1800.7 2

 3 U.S. income payments to rest of world 201.1 214.6 256.0 268.5 294.3 345.7 273.5 267.2 289.0 362.3 3

 4 Curr. taxes and trans. payments to rest of world 44.1 49.5 51.4 60.0 93.7 105.8 116.7 129.2 144.9 161.3 4

 5 Foreign outlays to U.S. 1042.6 1114.0 1233.9 1239.8 1350.0 1520.4 1396.8 1374.6 1462.2 1697.2 5

 6 U.S. exports 812.8 867.6 953.8 953.0 992.0 1096.8 1026.7 1002.5 1040.3 1181.5 6

 7 U.S. income receipts from rest of world 229.8 246.4 280.1 286.8 321.4 382.7 325.3 315.8 356.1 451.4 7

 8 Curr. taxes and trans. payments from rest of world 0.0 0.0 0.0 0.0 36.6 40.8 44.8 56.3 65.8 64.3 8

 9 - Net capital transfers paid (1) -0.6 -0.2 -0.4 -0.2 -4.5 -0.4 12.9 -0.6 -2.2 2.8 9

 10 Gross saving less net capital transfers paid (2) 105.7 114.3 129.7 204.8 291.1 404.1 375.9 451.3 517.9 624.2 10

 11 Gross investment 50.7 118.9 151.6 86.5 173.6 321.8 367.7 406.9 327.2 452.1 11

 12 Nonproduced nonfinancial assets 0.2 -0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 12

 13 Net lending (+) or net borrowing (-) 50.4 119.0 151.7 86.5 173.5 321.8 367.6 406.9 327.2 452.1 13

 14 Net acquisition of financial assets 342.7 471.1 504.1 383.3 579.8 745.1 606.6 680.5 780.3 1227.1 14

 15 Monetary gold (3) 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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 Net interbank assets -7.4 -31.3 10.4 5.5 6.7 -41.6 -27.3 10.1 11.3 -28.6 17

 18 U.S. checkable deposits and currency 9.9 16.7 27.5 10.5 24.3 -1.2 18.8 18.3 14.6 22.4 18

 19 U.S. time deposits -2.7 -0.2 13.1 3.1 3.2 8.9 -25.5 16.0 6.0 22.8 19

 20 Money market fund shares 0.8 0.8 0.8 0.8 0.8 3.1 3.9 1.1 2.6 4.1 20

 21 Security repurchase agreements 21.0 3.2 20.0 -18.8 8.0 11.4 24.7 39.1 133.0 190.5 21

 22 Debt securities 246.8 375.7 242.3 169.5 163.1 244.5 323.8 432.8 519.6 804.0 22

 23 Open market paper 18.6 14.4 19.9 33.6 -6.4 9.3 -5.9 18.1 2.1 16.5 23

 24 Treasury securities 160.5 262.7 123.7 18.7 -32.3 -75.2 19.3 160.9 276.4 366.9 24

 25 Treasury bills 34.4 39.5 -43.6 -9.7 2.2 -7.8 11.5 50.7 22.0 37.0 25

 26 Other Treasury securities 126.1 223.2 167.4 28.4 -34.5 -67.4 7.8 110.2 254.4 329.9 26

 27 Agency- and GSE-backed securities 17.6 26.8 30.3 11.1 63.4 141.9 92.0 127.1 12.3 154.6 27

 28 Municipal securities 1.0 1.0 1.0 1.0 1.0 0.2 0.0 3.5 8.0 6.5 28

 29 U.S. corporate bonds (4) 49.2 70.8 67.4 105.2 137.4 168.3 218.3 123.2 220.8 259.5 29

 30 Loans to U.S. corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 30

 31 U.S. corporate equities 3.5 -3.5 53.2 27.4 104.5 199.7 134.3 62.2 17.5 46.3 31

 32 Mutual fund shares 12.3 13.8 13.1 13.8 7.1 -9.2 -16.7 -9.2 13.9 11.5 32

 33 Trade receivables 0.7 5.5 0.9 -6.5 -4.5 10.4 5.2 15.8 -1.0 2.0 33

 34 Foreign direct investment in U.S. (5) 57.8 86.5 105.6 179.0 289.4 321.3 167.0 84.4 63.8 146.0 34

 35 Net increase in liabilities 292.2 352.2 352.4 296.8 406.2 423.3 239.0 273.7 453.2 775.0 35

 36 U.S. official reserve assets 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 36

 37 U.S. private deposits 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 43.8 154.2 37

 38 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 3.9 23.6 78.3 148.2 38

 39 Debt securities 70.4 77.9 63.3 36.6 26.7 53.0 -2.2 62.6 19.7 101.7 39

 40 Commercial paper 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.9 69.2 40

 41 Bonds 56.9 66.6 59.6 28.8 10.4 21.3 -20.5 3.8 0.8 32.5 41

 42 Loans 6.1 11.1 14.4 -0.6 -11.3 7.5 -18.9 -9.0 -2.5 -2.7 42

 43 Depository institution loans n.e.c. 6.6 10.1 16.3 5.4 -5.6 8.8 -15.2 -6.7 -0.5 1.0 43

 44 Other loans and advances -0.5 1.0 -1.8 -6.0 -5.7 -1.3 -3.8 -2.3 -2.0 -3.6 44

 45 Foreign corporate equities (6) 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 45

 46 Trade payables 1.1 3.3 2.8 0.0 5.2 0.7 -5.3 -0.6 2.3 -1.1 46

 47 U.S. direct investment abroad (4,5) 98.8 91.9 104.8 142.6 224.9 159.2 142.3 154.5 149.6 316.2 47

 48 Miscellaneous liabilities 5.6 5.9 0.8 0.8 6.2 -31.0 -1.7 1.0 45.6 -23.6 48

 49 U.S. equity in IBRD, etc. 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 49

 50 Nonofficial foreign currencies 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.0 0.0 50

 51 Investment by holding companies 3.8 4.1 -0.8 -0.6 4.1 -32.5 -3.3 -0.6 44.1 -25.6 51

 52 Discrepancy (FOF basis) 55.0 -4.6 -21.9 118.2 117.5 82.2 8.2 44.4 190.6 172.1 52

 Memo:

 53 Net U.S. exports, NIPA basis -89.8 -96.4 -102.0 -162.7 -256.6 -375.8 -368.7 -426.5 -503.7 -619.2 53

 54 + Net U.S. income receipts (7) 28.8 31.8 24.1 18.2 27.1 37.0 51.8 48.6 67.1 89.1 54

 55 - Curr. taxes and trans. payments to rest of world 44.1 49.5 51.4 60.0 93.7 105.8 116.7 129.2 144.9 161.3 55

 56 + Curr. taxes and trans. payments from rest of world 0.0 0.0 0.0 0.0 36.6 40.8 44.8 56.3 65.8 64.3 56

 57 = Balance on current account, NIPAs -105.1 -114.1 -129.3 -204.5 -286.6 -403.7 -388.8 -450.8 -515.7 -627.0 57

(1) Table F.5, line 64.

(2) Line 1 minus line 5 minus line 8; equals net lending (+) or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 54 with the sign reversed minus line 8.

(3) U.S. net sales, sign reversed.

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

(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
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42 Historical Annuals, 1995-2004, March 10, 2016

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 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 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 3

 4 SDR holdings 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 4

 5 Reserve position in IMF 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 5

 6 Other reserves 6.3 -7.6 -2.9 1.5 -3.3 1.9 0.7 0.6 0.6 0.6 6

 7 Net change in assets 9.6 -6.7 1.0 6.8 -8.7 0.3 4.9 3.7 -1.5 -2.8 7

 8 Federal government 6.4 -2.9 2.5 6.0 -7.1 -0.7 4.6 3.4 -1.8 -3.1 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 9

 10 SDR holdings 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 10

 11 Reserve position in IMF 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 11

 12 Other reserves 3.2 -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 0.3 0.3 12

 13 Rest of the world 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Monetary gold (2) 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Monetary authority 3.2 -3.8 -1.5 0.8 -1.7 0.9 0.3 0.3 0.3 0.3 16

 17 Monetary gold (2) -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 0.0 17

 18 Reserve position in IMF 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 -0.0 18

 19 Other reserves 3.2 -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 0.3 0.3 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 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 3

 4 Asset: Monetary authority 1.0 1.0 0.6 0.7 1.7 3.6 1.4 1.6 0.9 1.0 4

 5 Discrepancy (seigniorage) -0.3 -0.4 -0.1 -0.2 -0.7 -1.2 -0.1 -0.6 -0.3 -0.3 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 43.8 154.2 1

 Held by:

 2 Household sector 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.9 8.9 2

 3 Nonfinancial corporate business 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 3

 4 Money market mutual funds 4.0 3.4 0.1 6.9 11.0 43.5 30.7 -6.8 -37.0 0.8 4

 5 Discrepancy--unallocated assets 25.0 59.4 106.2 -5.7 34.0 83.2 -15.8 21.5 60.3 128.9 5
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Historical Annuals, 1995-2004, March 10, 2016 43

F.203 Net Interbank Transactions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities -10.7 -25.0 -7.0 -5.6 16.7 -49.3 -32.0 15.0 4.7 -11.5 1

 2 Monetary authority 1.3 -0.5 6.1 -7.5 22.2 -27.1 1.4 5.6 0.7 -5.4 2

 3 U.S.-chartered depository institutions -8.2 -30.9 12.5 34.9 51.5 48.5 5.1 12.0 39.1 70.7 3

 4 Foreign banking offices in U.S. -2.3 5.6 -24.5 -25.1 -46.2 -72.4 -20.0 0.2 -29.6 -77.7 4

 5 Banks in U.S.-affiliated areas -0.2 0.2 0.1 -0.6 -0.3 0.5 -1.1 0.3 0.0 -1.0 5

 6 Credit unions -1.3 0.6 -1.2 -7.4 -10.5 1.2 -17.4 -3.1 -5.4 2.0 6

 7 Net change in assets -5.4 -27.6 14.9 -3.0 27.3 -67.7 -26.9 16.1 11.2 -32.8 7

 8 Monetary authority 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 8

 9 U.S.-chartered depository institutions 1.4 -0.7 4.3 -5.6 21.8 -26.7 1.1 4.8 0.8 -5.3 9

 10 Foreign banking offices in U.S. -0.1 0.3 1.8 -1.9 0.4 -1.0 0.2 0.6 -0.4 -0.1 10

 11 Credit unions 0.0 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.2 -0.0 11

 12 Rest of the world -7.4 -31.3 10.4 5.5 6.7 -41.6 -27.3 10.1 11.3 -28.6 12

 13 Discrepancy -5.3 2.6 -21.9 -2.6 -10.6 18.4 -5.1 -1.2 -6.5 21.3 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 14

 15 Asset: U.S.-chartered depository institutions 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 17

 18 Asset: U.S.-chartered depository institutions -1.1 -5.4 4.5 -2.6 -2.7 -4.5 -1.8 4.4 0.7 1.2 18

 19 Foreign banking offices in U.S. -0.1 0.3 1.8 -1.9 0.4 -1.0 0.2 0.6 -0.4 -0.1 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.2 -0.0 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 21

 22 Asset: Monetary authority 0.7 4.1 -1.6 -1.1 -1.7 1.0 -1.0 0.4 -0.7 1.2 22

 23 Federal Reserve float 0.8 4.2 -3.6 0.9 -1.9 1.1 -0.9 0.4 -0.7 1.2 23

 24 Loans -0.1 -0.1 2.0 -2.0 0.2 -0.1 -0.1 0.0 0.0 -0.0 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) -9.9 -25.5 29.6 26.2 54.3 43.3 2.0 14.2 41.2 63.9 25

 26 Due to foreign affiliates -19.0 -2.3 55.1 22.9 38.3 76.9 14.5 -9.6 114.3 37.5 26

 27 - Due from foreign affiliates -9.1 23.2 25.6 -3.3 -16.0 33.6 12.5 -23.8 73.1 -26.3 27

 28 Foreign banking offices in U.S. (net) -3.6 4.3 -17.2 9.5 -51.1 -87.4 -32.3 6.3 -31.5 -78.3 28

 29 Due to foreign affiliates 40.4 5.8 57.1 53.2 -6.7 -33.9 62.4 62.2 -44.9 70.3 29

 30 - Due from foreign affiliates 44.0 1.5 74.2 43.7 44.4 53.5 94.6 55.9 -13.4 148.6 30

 31 Less: Deposits at foreign banks -0.3 4.5 0.4 32.5 -10.6 -5.3 -7.3 6.4 -1.2 12.7 31

 32 U.S.-chartered depository institutions -2.5 5.1 1.1 6.8 -1.5 -2.6 -0.8 9.3 -2.3 6.5 32

 33 Foreign banking offices in U.S. 2.2 -0.6 -0.7 25.7 -9.1 -2.7 -6.6 -3.0 1.2 6.2 33

 34 Plus: Loans from foreign banks 5.8 -5.6 -1.6 2.4 -7.1 -2.8 -4.4 -4.0 0.4 -1.4 34

 35 U.S.-chartered depository institutions 1.1 -0.7 0.2 2.6 -0.2 -0.5 -0.9 -1.2 0.6 -1.3 35

 36 Foreign banking offices in U.S. 4.7 -4.9 -1.8 -0.2 -6.8 -2.3 -3.4 -2.8 -0.2 -0.1 36

 37 Asset: Rest of the world (1) -7.4 -31.3 10.4 5.5 6.7 -41.6 -27.3 10.1 11.3 -28.6 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) -2.6 -3.7 -14.5 14.0 -2.4 2.2 4.3 7.9 -4.4 13.4 38

 39 Due to (3): -25.6 -10.3 -23.7 -10.8 21.0 4.5 3.9 -1.8 2.7 35.0 39

 40 Foreign banking offices in U.S. -21.8 -12.1 -3.0 -16.2 20.8 -12.2 -9.5 -3.5 3.8 14.8 40

 41 Banks in U.S.-affiliated areas 0.2 -0.2 -0.1 0.6 0.3 -0.5 1.1 -0.3 -0.0 1.0 41

 42 Credit unions 1.3 -0.6 1.2 7.4 10.5 -1.2 17.4 3.1 5.4 -2.0 42

 43 - Due from: Foreign banking offices in U.S. -23.0 -6.6 -9.3 -24.8 23.4 2.3 -0.3 -9.7 7.1 21.6 43

 44 Unallocated (2) -5.3 2.6 -21.9 -2.6 -10.6 18.4 -5.1 -1.2 -6.5 21.3 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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44 Historical Annuals, 1995-2004, March 10, 2016

F.204 Checkable Deposits and Currency

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 1

 2 Monetary authority 16.9 23.3 29.8 39.0 108.2 -35.1 47.4 41.9 37.3 37.7 2

 3 Federal government cash and deposits -1.2 1.7 -2.3 0.5 22.3 -22.9 1.5 -2.3 1.3 0.1 3

 4 Due to government-sponsored enterprises 0.0 -0.0 0.0 0.7 -0.4 0.1 -0.6 0.4 -0.5 0.6 4

 5 Deposits due to foreign 0.1 -0.2 0.3 -0.3 -0.1 0.1 -0.2 0.1 0.0 -0.1 5

 6 Currency outside banks 18.0 21.8 31.9 38.1 86.4 -12.5 46.7 43.7 36.5 37.1 6

 7 U.S.-chartered depository institutions -47.9 -35.7 -26.4 -35.3 0.9 -83.7 56.2 -53.7 38.5 39.2 7

 8 Federal government deposits -4.7 9.7 -0.9 -14.6 36.4 -33.2 -0.4 -16.4 -0.9 -3.2 8

 9 Deposits due to foreign 1.0 3.5 4.4 -2.8 -0.5 2.4 -2.5 -0.3 4.3 9.7 9

 10 Private domestic deposits -44.2 -48.8 -29.9 -17.9 -35.0 -52.9 59.1 -37.0 35.1 32.8 10

 11 Foreign banking offices in U.S. -0.1 -0.7 0.8 -0.2 0.6 -0.4 0.4 -0.7 1.1 -0.8 11

 12 Deposits due to foreign -0.1 -0.7 0.4 -0.3 0.6 -0.3 -2.4 -0.4 -0.4 -0.5 12

 13 Private domestic deposits -0.0 -0.0 0.4 0.1 -0.0 -0.1 2.7 -0.3 1.4 -0.3 13

 14 Banks in U.S.-affiliated areas 0.2 0.5 0.4 1.2 0.0 -0.1 3.1 -1.1 1.5 1.6 14

 15 Credit unions 2.1 1.6 4.1 6.4 2.3 5.9 3.5 5.7 6.0 7.6 15

 16 Net change in assets -28.8 -11.0 8.8 11.1 112.0 -113.5 110.6 -7.9 84.5 85.4 16

 17 Household sector -49.9 -41.7 -40.9 24.8 -19.8 -103.5 74.7 -16.0 -31.2 -58.2 17

 18 Nonfinancial business 18.1 1.5 11.0 -9.8 34.7 43.5 -53.0 -9.6 50.1 109.9 18

 19 Corporate 4.6 -17.6 -11.3 -15.9 29.6 35.0 -53.8 -12.3 44.0 3.0 19

 20 Noncorporate 13.5 19.2 22.4 6.1 5.1 8.4 0.8 2.7 6.1 106.9 20

 21 Federal government -0.0 11.0 -0.5 -16.7 66.2 -65.1 41.1 -17.1 9.3 -31.0 21

 22 State and local governments 3.4 -5.6 4.4 -3.9 4.0 0.1 4.0 5.1 7.0 -3.4 22

 23 Domestic financial sectors -0.6 10.6 14.0 6.8 10.9 4.0 65.5 13.7 43.7 27.5 23

 24 Property-casualty insurance companies -0.2 -0.9 0.3 -0.2 0.2 -0.6 9.4 12.8 8.6 -8.7 24

 25 Life insurance companies -0.5 -0.9 3.8 -2.7 0.0 -0.5 31.9 -1.6 12.0 6.0 25

 26 Private pension funds 0.8 0.7 1.4 -0.9 1.3 3.3 -0.8 0.3 0.2 0.1 26

 27 State and local govt. retirement funds -2.6 3.3 -2.1 4.7 -0.8 0.7 1.5 1.6 0.8 -0.9 27

 28 Money market mutual funds -1.0 2.4 2.6 -2.5 -2.3 4.5 4.0 -6.6 -0.5 2.6 28

 29 Government-sponsored enterprises 0.2 -0.7 1.3 2.9 7.2 -7.7 2.3 8.1 14.0 10.4 29

 30 Finance companies 0.8 2.6 -0.4 1.1 1.5 2.6 -0.7 2.2 1.9 -0.8 30

 31 REITs 0.0 2.2 1.1 0.8 0.3 -0.0 1.1 -0.1 3.8 3.0 31

 32 Brokers and dealers 1.7 1.9 6.0 3.7 3.3 1.6 16.8 -2.9 2.9 15.7 32

 33 Rest of the world 9.9 16.7 27.5 10.5 24.3 -1.2 18.8 18.3 14.6 22.4 33

 34 Checkable deposits 1.1 2.6 5.1 -3.4 -0.1 2.2 -5.0 -0.6 4.0 9.1 34

 35 Currency 8.8 14.2 22.4 13.8 24.4 -3.4 23.8 18.9 10.6 13.3 35

 36 Mail float -9.8 -3.6 -6.6 -0.5 -8.2 8.7 -40.5 -2.3 -8.9 18.2 36
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Historical Annuals, 1995-2004, March 10, 2016 45

F.205 Time and Savings Deposits

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 174.0 226.4 251.4 217.0 214.7 382.6 353.8 346.6 368.3 530.0 1

 2 Small time and savings deposits 112.5 123.8 129.5 189.3 83.8 231.0 314.6 325.4 307.4 281.6 2

 3 U.S.-chartered depository institutions 100.4 111.3 111.9 169.0 72.6 217.0 257.0 294.5 276.8 265.2 3

 4 Foreign banking offices in U.S. -0.7 0.1 4.4 -3.7 -1.8 -0.4 4.5 -2.3 0.8 -0.7 4

 5 Banks in U.S.-affiliated areas 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 5

 6 Credit unions 11.6 12.3 13.2 23.1 12.3 13.0 48.6 35.1 28.5 15.5 6

 7 Large time deposits (1) 61.5 102.5 121.9 27.7 130.9 151.6 39.2 21.2 60.9 248.4 7

 8 U.S.-chartered depository institutions 54.9 54.1 76.7 49.9 74.6 116.7 -4.7 60.1 39.4 162.6 8

 9 Foreign banking offices in U.S. 3.8 45.8 42.2 -27.3 52.3 30.0 30.3 -45.6 9.4 77.9 9

 10 Banks in U.S.-affiliated areas 1.2 0.2 -0.0 1.0 0.8 1.4 4.6 -1.9 1.3 1.6 10

 11 Credit unions 1.7 2.4 2.9 4.1 3.1 3.5 9.0 8.7 10.8 6.4 11

 12 Net change in assets 174.0 226.4 251.4 217.0 214.7 382.6 353.8 346.6 368.3 530.0 12

 13 Household sector 127.7 141.6 142.8 86.7 94.9 286.5 283.1 306.7 299.3 454.4 13

 14 Nonfinancial business 7.6 33.5 45.4 69.0 97.3 103.5 15.9 24.6 116.1 24.5 14

 15 Corporate 3.3 30.0 34.7 28.2 44.3 35.5 8.8 10.2 71.5 37.7 15

 16 Noncorporate 4.3 3.5 10.7 40.7 53.1 68.1 7.1 14.5 44.7 -13.2 16

 17 Federal government 0.3 1.4 1.0 1.3 0.7 1.0 4.2 17.1 -25.2 -0.0 17

 18 State and local governments 6.6 10.5 5.8 14.7 14.1 10.7 12.0 8.8 19.8 7.9 18

 19 Domestic financial sectors 34.6 39.4 43.3 42.2 4.6 -28.0 64.0 -26.6 -47.8 20.5 19

 20 Private pension funds 8.1 8.8 11.0 29.7 -39.2 -22.8 -36.4 -3.9 3.0 -4.7 20

 21 State and local govt. retirement funds 2.0 -2.1 0.2 -0.4 -0.4 -0.2 0.2 -0.0 -0.4 4.2 21

 22 Money market mutual funds 20.9 30.4 28.6 12.6 31.5 -9.2 84.7 -22.6 -58.1 16.1 22

 23 Government-sponsored enterprises 0.0 0.0 0.0 -1.7 5.2 0.5 8.1 -5.1 -8.5 6.5 23

 24 Finance companies 3.6 2.6 3.7 1.3 7.7 3.9 7.2 4.0 16.4 -1.8 24

 25 Holding companies -0.1 -0.3 -0.2 0.6 -0.3 -0.1 0.1 1.0 -0.1 0.2 25

 26 Rest of the world -2.7 -0.2 13.1 3.1 3.2 8.9 -25.5 16.0 6.0 22.8 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 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 1

 2 Net purchases 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 2

 3 Household sector 99.3 28.5 70.4 96.1 102.0 167.9 163.7 -32.7 -113.9 -56.0 3

 4 Nonfinancial corporate business 22.9 34.7 24.2 42.9 35.1 17.1 100.2 5.7 -30.4 10.3 4

 5 Nonfinancial noncorporate business 1.9 2.2 3.7 9.7 8.1 8.7 9.6 2.3 2.3 2.9 5

 6 State and local governments 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 4.8 12.9 6

 7 Property-casualty insurance companies 2.8 -0.7 -0.1 2.6 -5.0 3.5 -3.1 5.0 -0.9 -0.9 7

 8 Life insurance companies 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2.4 0.3 4.6 8

 9 Private pension funds 6.3 11.2 13.4 2.3 12.1 4.2 -6.1 9.4 -0.2 0.6 9

 10 State and local govt. retirement funds 0.9 1.7 2.1 0.3 1.8 1.4 2.2 0.1 -2.1 6.3 10

 11 Funding corporations 1.2 65.6 37.7 95.7 91.4 28.5 154.5 -18.5 -75.0 -121.1 11

 12 Rest of the world 0.8 0.8 0.8 0.8 0.8 3.1 3.9 1.1 2.6 4.1 12
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46 Historical Annuals, 1995-2004, March 10, 2016

F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 194.4 81.0 244.8 -5.3 63.1 228.3 196.7 289.9 258.2 510.1 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 4.6 5.1 2

 3 U.S.-chartered depository institutions 15.2 -9.5 48.3 54.7 28.1 16.5 24.2 43.8 -6.5 36.7 3

 4 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 4

 5 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 5

 6 Foreign banking offices in U.S. 2.4 16.5 20.7 21.4 -18.9 59.8 -12.4 47.9 0.3 2.5 6

 7 Federal funds (2) ND ND ND ND ND ND ND ND ND 0.3 7

 8 Security repurchase agreements ND ND ND ND ND ND ND ND ND 2.2 8

 9 Credit unions 0.0 0.0 1.3 -1.0 1.0 -0.9 1.2 -1.0 2.5 -0.2 9

 10 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 -0.7 1.2 -1.0 10

 11 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 12.6 0.8 -1.2 11

 12 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.8 0.9 4.7 -1.2 12

 13 REITs 1.2 2.8 11.2 -9.8 -0.3 -2.5 9.2 14.6 5.5 28.7 13

 14 Brokers and dealers 175.5 70.6 162.8 -75.4 52.1 156.8 167.8 125.3 165.5 297.5 14

 15 Holding companies 0.2 0.5 0.6 4.8 1.2 -1.5 -1.0 1.7 1.5 -5.2 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 3.9 23.6 78.3 148.2 16

 17 Net change in assets 207.2 104.5 190.6 -4.9 135.1 99.7 191.2 190.3 152.0 498.6 17

 18 Nonfinancial corporate business 0.3 1.5 0.7 -0.4 1.6 -1.6 -0.2 2.2 -0.2 0.4 18

 19 State and local governments -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 1.6 7.3 19

 20 Monetary authority 3.3 7.7 2.3 6.5 110.3 -97.3 6.9 -10.8 4.3 -10.8 20

 21 U.S.-chartered depository institutions 39.0 -21.8 13.4 58.0 -47.7 42.5 38.0 5.6 6.9 35.8 21

 22 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 22

 23 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 23

 24 Foreign banking offices in U.S. -7.4 0.3 18.7 7.8 -12.6 45.6 -11.2 18.2 23.0 -11.8 24

 25 Federal funds (2) ND ND ND ND ND ND ND ND ND -7.5 25

 26 Security repurchase agreements ND ND ND ND ND ND ND ND ND -4.3 26

 27 Credit unions 0.2 -4.9 2.0 3.4 2.4 -5.3 -1.5 -0.8 0.6 1.6 27

 28 Federal funds ND ND ND ND ND ND ND ND ND ND 28

 29 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 29

 30 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 0.6 -1.2 30

 31 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 3.4 -2.5 1.4 31

 32 Private pension funds 0.3 4.9 1.2 1.2 1.9 -5.1 -8.9 1.3 1.4 0.6 32

 33 State and local govt. retirement funds 3.7 -3.3 0.4 8.9 2.8 -0.5 -5.9 -6.9 -3.6 -7.6 33

 34 Money market mutual funds 19.0 16.0 22.8 12.2 1.7 44.3 50.4 44.4 -26.1 -18.4 34

 35 Mutual funds 7.1 -2.7 10.3 13.1 9.9 18.8 -28.9 10.9 12.9 18.1 35

 36 Government-sponsored enterprises 20.5 -11.8 -4.1 -13.4 12.7 -14.7 24.9 -7.2 -19.5 17.6 36

 37 Of which: FHLB federal funds (3) 0.0 0.0 0.0 0.0 0.0 55.3 -6.9 -1.7 -10.0 17.9 37

 38 Brokers and dealers 103.4 83.1 98.9 -91.9 45.4 71.8 111.5 106.9 19.1 278.9 38

 39 Holding companies -0.2 0.1 0.6 4.3 1.1 0.1 -0.9 -0.6 0.5 -3.9 39

 40 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world 21.0 3.2 20.0 -18.8 8.0 11.4 24.7 39.1 133.0 190.5 41

 42 Discrepancy -12.8 -23.5 54.1 -0.4 -72.0 128.5 5.5 99.6 106.2 11.5 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations: (4)

 43 Liability: Monetary authority (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Asset: Money market mutual funds (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Other financial institutions (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

(1) Detailed data on federal funds and security repurchase agreements are only available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 2010:Q4 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(5) Included in line 2.

(6) Included in line 34.

(7) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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Historical Annuals, 1995-2004, March 10, 2016 47

F.208 Debt Securities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 By instrument

 1 Total debt securities 690.0 823.7 835.2 1221.5 1215.9 747.5 1198.3 1402.9 1638.8 1554.6 1

 2 Open market paper 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 2

 3 Treasury securities 163.8 201.6 63.5 -13.4 -29.9 -274.0 55.8 281.6 423.1 403.5 3

 4 Agency- and GSE-backed securities 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 583.8 115.2 4

 5 Municipal securities -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 203.7 5

 6 Corporate and foreign bonds 303.8 296.2 317.1 484.0 368.4 352.4 569.4 513.8 576.2 726.1 6

 By sector

 7 Total liabilities 690.0 823.7 835.2 1221.5 1215.9 747.5 1198.3 1402.9 1638.8 1554.6 7

 8 Domestic nonfinancial sectors 191.4 280.3 261.6 304.7 268.5 -52.1 388.2 465.9 594.4 609.5 8

 9 Household sector (nonprofits) 0.2 6.1 7.1 11.8 10.4 5.8 13.8 12.6 13.8 14.7 9

 10 Nonfinancial corporate business 86.9 89.9 145.4 237.7 249.3 200.6 213.8 27.3 39.5 13.5 10

 11 Federal government 165.3 200.0 63.4 -11.4 -30.1 -275.0 55.2 282.1 420.7 402.8 11

 12 State and local governments -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 178.5 12

 13 Domestic financial sectors 428.2 465.5 510.3 880.2 920.7 746.6 812.3 874.5 1024.6 843.4 13

 14 U.S.-chartered depository institutions 5.0 9.0 10.5 5.7 1.3 13.5 3.4 -0.5 6.3 12.4 14

 15 Foreign banking offices in U.S. -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 15

 16 Government-sponsored enterprises 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 16

 17 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 17

 18 ABS issuers 127.8 114.6 137.4 258.8 156.3 175.6 250.8 257.4 264.4 477.0 18

 19 Finance companies 49.7 46.1 29.3 54.9 61.8 82.6 -9.7 49.4 105.3 104.3 19

 20 REITs 0.2 1.3 14.9 21.9 8.2 2.9 4.6 14.0 23.8 61.9 20

 21 Brokers and dealers -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 21

 22 Holding companies 14.4 2.0 19.0 24.9 25.8 23.2 23.6 20.3 35.4 59.5 22

 23 Funding corporations 34.9 63.8 79.9 40.0 91.6 -1.6 -103.6 -10.7 -3.2 -2.9 23

 24 Rest of the world 70.4 77.9 63.3 36.6 26.7 53.0 -2.2 62.6 19.7 101.7 24

 25 Total assets: 690.0 823.7 835.2 1221.5 1215.9 747.5 1198.3 1402.9 1638.8 1554.6 25

 26 Domestic nonfinancial sectors -98.5 31.7 -117.6 132.8 120.5 13.6 -112.1 98.3 -23.3 267.7 26

 27 Household sector -1.0 63.2 -78.5 22.7 18.9 -79.9 -211.3 -14.3 -57.9 147.4 27

 28 Nonfinancial corporate business -8.8 0.7 -39.8 1.1 5.0 18.8 0.7 21.3 10.8 16.2 28

 29 Nonfinancial noncorporate business 5.9 5.3 4.2 5.4 -0.9 2.7 3.7 -0.1 1.4 7.0 29

 30 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 State and local governments -94.7 -37.5 -3.6 103.6 97.5 72.0 94.7 91.5 22.4 97.1 31

 32 Domestic financial sectors 541.7 416.4 710.4 919.2 932.3 489.4 986.6 871.8 1142.5 483.0 32

 33 Monetary authority 12.7 12.3 38.3 21.1 25.7 33.7 39.9 77.7 37.2 51.2 33

 34 U.S.-chartered depository institutions -29.8 -42.1 60.2 92.7 98.2 25.9 112.8 160.8 163.1 39.9 34

 35 Foreign banking offices in U.S. 47.5 34.4 28.8 0.1 9.9 7.5 22.0 22.8 -13.5 17.1 35

 36 Banks in U.S.-affiliated areas 1.5 -1.3 2.3 3.7 2.2 3.7 2.2 4.0 6.1 5.6 36

 37 Credit unions -0.5 3.8 -1.5 5.1 0.9 -2.4 20.0 19.8 17.9 -0.3 37

 38 Property-casualty insurance companies 27.7 21.6 25.2 10.9 -12.3 -1.9 2.0 48.0 75.7 85.6 38

 39 Life insurance companies 92.2 70.0 101.8 68.1 42.6 48.8 117.7 219.7 167.6 149.3 39

 40 Private pension funds 16.0 -8.4 43.3 -8.8 102.1 -123.2 -34.9 -7.4 72.1 -0.4 40

 41 Federal government retirement funds 15.4 66.5 42.2 44.0 43.8 23.0 70.4 37.8 31.6 46.0 41

 42 State and local govt. retirement funds 30.5 29.3 59.8 61.6 47.0 37.0 -48.9 -47.8 18.5 27.0 42

 43 Money market mutual funds 86.5 88.8 87.5 248.9 185.7 145.4 268.5 -29.5 -73.7 -144.8 43

 44 Mutual funds 52.3 48.1 77.5 124.6 45.5 22.0 133.7 138.0 138.1 105.0 44

 45 Closed-end funds 8.5 2.9 -1.1 4.9 9.6 -5.6 3.2 8.6 35.4 10.7 45

 46 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 0.7 3.8 46

 47 Government-sponsored enterprises 77.9 74.9 80.3 217.4 178.7 182.5 240.8 157.9 124.5 -11.6 47

 48 ABS issuers 20.8 -4.6 -21.7 25.2 41.4 8.9 33.5 74.8 83.7 -11.3 48

 49 Finance companies 13.0 15.5 9.7 7.1 27.0 18.8 19.0 18.1 53.3 -7.7 49

 50 REITs 0.6 4.6 11.1 -8.5 1.3 0.8 8.7 12.1 5.6 32.9 50

 51 Brokers and dealers 89.8 -17.1 11.4 7.4 -34.8 66.8 91.1 29.7 79.5 -34.4 51

 52 Holding companies -0.8 3.7 5.5 -2.6 7.7 -11.2 3.9 2.2 3.7 2.5 52

 53 Funding corporations -20.0 13.3 50.1 -3.7 110.2 8.9 -118.8 -79.1 115.3 116.9 53

 54 Rest of the world 246.8 375.7 242.3 169.5 163.1 244.5 323.8 432.8 519.6 804.0 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.
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48 Historical Annuals, 1995-2004, March 10, 2016

F.209 Open Market Paper

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total net issues, all types 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 1

 2 Commercial paper 75.1 101.6 186.8 202.5 232.8 212.2 -188.5 -98.9 -81.7 106.5 2

 3 Nonfinancial corporate business 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 3

 4 Foreign issues in U.S. 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.9 69.2 4

 5 Nonfinancial 5.4 -1.9 -2.3 -1.6 8.2 10.9 -16.4 -0.2 -3.8 -2.2 5

 6 Financial 8.1 13.2 6.0 9.4 8.1 20.8 34.7 59.0 22.6 71.5 6

 7 Domestic financial sectors 43.4 91.3 169.4 170.3 179.2 132.4 -123.7 -99.8 -63.3 21.9 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 37.3 45.4 89.4 125.7 139.0 125.0 84.9 -41.7 -36.0 -3.9 9

 10 Finance companies -2.9 9.4 24.6 30.7 -2.9 9.7 -77.7 -14.6 -2.7 30.2 10

 11 REITs -0.0 0.0 0.0 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies -1.4 1.9 6.0 7.8 9.1 1.2 -5.1 -2.3 -6.0 10.8 12

 13 Funding corporations 10.5 34.5 49.4 6.0 34.2 -3.5 -125.8 -41.2 -18.5 -15.2 13

 14 Bankers’ acceptances (1) -0.8 1.0 -2.7 -9.4 -2.9 -0.7 -3.2 -0.2 -0.2 -0.3 14

 15 U.S.-chartered depository institutions 2.3 1.7 -0.3 -4.6 -2.5 -0.6 -2.3 0.3 -0.2 -0.4 15

 16 Foreign banking offices in U.S. -3.1 -0.7 -2.4 -4.8 -0.4 -0.0 -0.9 -0.4 -0.1 0.1 16

 17 Net purchases, by sector 74.3 102.6 184.1 193.1 229.9 211.6 -191.6 -99.1 -82.0 106.2 17

 18 Household sector 2.0 4.1 1.3 3.0 4.7 12.4 -9.2 -5.9 -4.9 6.4 18

 19 Nonfinancial corporate business 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 19

 20 State and local governments 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 -0.7 3.0 20

 21 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S.-chartered depository institutions (1) 0.4 0.4 -0.9 -0.1 -0.1 0.2 0.0 0.0 0.0 0.0 22

 23 Foreign banking offices in U.S. (1) -0.4 0.5 -0.2 -0.1 0.4 -0.1 0.0 0.0 0.0 0.0 23

 24 Credit unions -1.6 -0.3 -0.1 0.2 1.5 -0.6 1.2 -0.9 -0.8 0.1 24

 25 Property-casualty insurance companies 4.1 -1.0 -0.1 3.7 -7.2 5.0 -6.4 3.0 -2.0 -1.4 25

 26 Life insurance companies -7.3 2.9 17.5 7.5 2.0 -4.5 -19.5 4.0 -17.8 -10.5 26

 27 Private pension funds 0.5 5.4 1.3 2.1 4.2 -4.7 -7.9 2.0 -1.8 0.4 27

 28 State and local govt. retirement funds 3.9 -2.7 0.7 10.5 5.4 4.8 3.6 -0.3 -9.0 -8.9 28

 29 Money market mutual funds 48.4 38.4 62.1 79.1 110.1 104.0 14.3 -37.5 -133.7 -65.9 29

 30 Mutual funds 7.1 -3.1 10.6 13.1 9.9 18.8 -28.9 -7.7 13.1 18.0 30

 31 Government-sponsored enterprises -0.8 9.6 -1.1 28.6 -32.4 10.7 2.7 -23.5 -3.7 -0.9 31

 32 Brokers and dealers 10.9 1.6 0.6 3.8 -2.0 13.2 9.0 -4.7 5.9 -1.3 32

 33 Funding corporations -29.8 0.5 53.5 -8.2 114.0 17.7 -164.6 -64.7 60.4 131.4 33

 34 Rest of the world 18.6 14.4 19.9 33.6 -6.4 9.3 -5.9 18.1 2.1 16.5 34

(1) Excludes banks’ holdings of own acceptances.
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Historical Annuals, 1995-2004, March 10, 2016 49

F.210 Treasury Securities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 163.8 201.6 63.5 -13.4 -29.9 -274.0 55.8 281.6 423.1 403.5 1

 2 Marketable Treasury securities 173.7 139.3 0.9 -96.0 -71.0 -276.3 -4.0 240.9 372.1 366.1 2

 3 Treasury bills 26.9 16.7 -62.0 -24.4 46.1 -90.2 164.4 77.5 40.0 72.4 3

 4 Other Treasury notes, bonds, and TIPS 146.8 122.6 62.9 -71.6 -117.0 -186.1 -168.3 163.4 332.1 294.7 4

 5 Held in the Civil Service Retirement Fund (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -1.0 5

 6 Nonmarketable Treasury securities -10.0 62.3 62.6 82.6 41.1 2.3 59.8 40.7 51.0 37.4 6

 7 U.S. savings securities 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 7

 8 State and local government series (SLGS) -28.2 -3.2 22.8 41.2 0.4 -14.7 -4.8 7.2 -4.2 11.5 8

 9 Thrift Savings Plan G Fund -5.7 11.2 1.7 2.2 2.7 2.0 6.1 8.2 4.3 5.5 9

 10 Federal govt. defined benefit pension plans 20.8 55.1 40.3 41.2 41.1 20.9 60.8 24.5 24.7 41.9 10

 11 Other nonmarketable securities -2.0 -2.8 -1.7 -2.2 -3.0 -4.2 -8.1 -3.7 17.3 -22.2 11

 12 Total assets 163.8 201.6 63.5 -13.4 -29.9 -274.0 55.8 281.6 423.1 403.5 12

 13 Household sector -10.3 -13.8 -143.1 -70.6 2.5 -210.7 -89.5 -134.9 23.2 -10.7 13

 14 U.S. savings securities (line 7) 5.1 2.0 -0.5 0.1 -0.2 -1.7 5.6 4.5 8.9 0.6 14

 15 Other Treasury securities -15.4 -15.9 -142.6 -70.7 2.7 -209.0 -95.1 -139.4 14.3 -11.3 15

 16 Nonfinancial corporate business 6.3 -10.0 -20.2 -3.2 -4.2 -1.3 -1.3 14.5 2.3 0.3 16

 17 Nonfinancial noncorporate business 5.3 4.9 3.7 5.7 -0.8 3.0 2.7 0.0 2.1 5.3 17

 18 State and local governments -80.2 -32.8 -17.7 41.4 23.8 5.5 18.4 26.2 7.0 43.5 18

 19 SLGS (line 8) -28.2 -3.2 22.8 41.2 0.4 -14.7 -4.8 7.2 -4.2 11.5 19

 20 Other Treasury securities -52.1 -29.6 -40.5 0.2 23.3 20.2 23.2 19.1 11.2 32.0 20

 21 Monetary authority 13.7 12.7 39.8 21.4 25.8 33.7 40.0 77.7 37.3 51.2 21

 22 Treasury bills 5.7 7.5 6.5 -2.4 -18.3 2.2 3.3 44.6 18.2 18.1 22

 23 Other Treasury securities 7.9 5.2 33.4 23.8 44.1 31.5 36.6 33.1 19.1 33.0 23

 24 U.S.-chartered depository institutions -49.1 -35.7 -9.0 -46.4 -2.0 -36.4 -28.8 27.7 10.1 -23.1 24

 25 Foreign banking offices in U.S. 29.6 18.4 14.4 -10.3 9.7 -0.5 9.8 12.9 -7.3 -5.7 25

 26 Banks in U.S.-affiliated areas 0.2 -1.3 0.1 -0.7 -0.7 -1.0 -0.6 0.3 1.0 1.4 26

 27 Credit unions -3.8 -0.9 -1.8 -2.5 -3.5 -1.4 -0.8 0.1 1.2 0.1 27

 28 Property-casualty insurance companies 1.7 -12.9 2.1 -19.6 -11.9 -7.1 -0.3 14.5 14.3 20.3 28

 29 Treasury bills 1.2 -0.3 -0.0 1.1 -2.2 1.5 -0.3 5.3 10.8 13.7 29

 30 Other Treasury securities 0.5 -12.6 2.1 -20.8 -9.7 -8.6 -0.0 9.2 3.5 6.6 30

 31 Life insurance companies 1.0 -14.9 1.6 -14.1 -9.3 -4.6 -0.1 31.4 -9.1 1.7 31

 32 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.6 -2.5 -4.9 32

 33 Other Treasury securities 1.0 -14.9 1.6 -14.1 -9.3 -4.6 -0.1 24.8 -6.6 6.6 33

 34 Private pension funds -0.5 -5.1 2.0 -13.4 16.8 -9.6 -6.9 -3.2 13.8 -4.4 34

 35 Defined benefit plans 1.6 -5.1 3.2 -20.6 18.6 -11.7 -0.4 -12.7 14.3 -6.9 35

 36 Defined contribution plans -2.0 0.0 -1.2 7.2 -1.8 2.1 -6.6 9.5 -0.6 2.5 36

 37 Federal government retirement funds 15.2 66.4 42.1 43.6 43.8 22.9 67.9 34.3 29.9 45.6 37

 38 Defined benefit plans 20.8 55.1 40.3 41.2 41.1 20.9 60.8 25.7 26.0 40.3 38

 39 Defined contribution plans -5.6 11.3 1.8 2.4 2.7 2.0 7.0 8.6 4.0 5.3 39

 40 State and local govt. retirement funds -7.3 4.9 6.2 -6.0 -13.9 -20.2 -23.1 6.3 -11.2 0.9 40

 41 Defined benefit plans -7.4 4.6 6.2 -6.4 -13.8 -19.8 -24.0 3.8 -10.3 0.1 41

 42 Defined contribution plans 0.1 0.3 0.0 0.4 -0.1 -0.5 0.9 2.5 -0.9 0.8 42

 43 Money market mutual funds 3.8 20.3 -4.0 21.7 -4.0 -12.5 47.3 3.3 -10.6 -29.2 43

 44 Treasury bills -2.3 -0.1 -1.2 6.2 11.5 -4.3 38.9 16.2 -10.8 -15.8 44

 45 Other Treasury securities 6.1 20.3 -2.8 15.5 -15.5 -8.2 8.4 -12.9 0.2 -13.4 45

 46 Mutual funds 13.4 -18.0 10.6 4.6 -23.7 10.2 -12.0 11.0 9.9 12.5 46

 47 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 Other Treasury securities 13.4 -18.0 10.6 4.6 -23.7 10.2 -12.0 11.0 9.9 12.5 48

 49 Closed-end funds -1.7 0.1 -1.4 -1.0 -1.2 -0.9 0.1 -2.8 0.6 2.3 49

 50 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 0.1 2.8 50

 51 Government-sponsored enterprises 6.1 -12.9 7.1 -0.7 5.8 0.6 0.4 12.1 -12.3 -0.6 51

 52 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.1 -0.1 0.8 1.3 5.5 52

 53 Brokers and dealers 61.0 -31.1 7.5 21.2 -58.4 39.4 13.1 -13.7 41.7 -82.4 53

 54 Holding companies -1.2 0.6 -0.1 -3.1 7.9 -7.9 0.4 0.1 1.4 -0.8 54

 55 Rest of the world 160.5 262.7 123.7 18.7 -32.3 -75.2 19.3 160.9 276.4 366.9 55

 56 Treasury bills 34.4 39.5 -43.6 -9.7 2.2 -7.8 11.5 50.7 22.0 37.0 56

 57 Other Treasury securities 126.1 223.2 167.4 28.4 -34.5 -67.4 7.8 110.2 254.4 329.9 57

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds.

 In the Financial Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as

 opposed to intragovernmental holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.
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50 Historical Annuals, 1995-2004, March 10, 2016

F.211 Agency- and GSE-Backed Securities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 583.8 115.2 1

 2 Budget agencies 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 2

 3 Government-sponsored enterprises 106.0 90.4 99.1 278.9 318.8 235.2 304.1 219.8 250.9 75.0 3

 4 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 4

 5 Net purchases 205.8 229.8 213.6 473.6 593.1 433.9 642.1 547.2 583.8 115.2 5

 6 Household sector 27.6 100.9 54.2 68.4 82.7 29.4 -139.1 -137.2 132.8 133.2 6

 7 Nonfinancial corporate business 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -5.7 0.1 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 11.9 37.4 9

 10 Monetary authority -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 0.0 -0.0 0.0 10

 11 U.S.-chartered depository institutions 28.0 6.8 59.6 70.2 32.8 11.5 94.7 135.9 107.7 7.3 11

 12 Foreign banking offices in U.S. 14.3 12.4 12.5 5.2 4.9 0.4 -22.0 10.9 -6.3 -1.4 12

 13 Banks in U.S.-affiliated areas 1.3 0.2 2.0 3.9 3.3 4.3 2.5 3.9 4.7 4.7 13

 14 Credit unions 4.9 4.9 0.4 7.3 2.9 -0.4 19.6 -1.5 15.2 -1.1 14

 15 Property-casualty insurance companies 2.3 2.8 1.7 -1.2 5.9 8.6 10.1 19.0 2.2 -3.3 15

 16 Life insurance companies 8.7 1.3 -3.0 -9.6 7.0 11.0 18.1 77.4 18.0 8.2 16

 17 Private pension funds 1.8 -11.7 6.2 -17.7 38.0 -32.2 2.8 -18.0 38.9 11.3 17

 18 Federal government retirement funds 0.1 0.1 0.1 0.2 -0.0 0.1 1.6 2.1 0.9 0.1 18

 19 State and local govt. retirement funds 23.1 5.9 18.4 19.9 25.2 48.9 5.5 9.4 45.0 -3.2 19

 20 Money market mutual funds 13.7 11.0 -5.5 76.1 18.6 -2.2 155.8 -19.0 7.7 -62.1 20

 21 Mutual funds 5.5 33.1 8.9 21.6 36.2 12.6 86.8 60.3 24.4 7.5 21

 22 Government-sponsored enterprises 60.0 65.8 67.6 158.4 172.9 149.2 206.9 131.7 101.9 -202.4 22

 23 ABS issuers 20.8 -4.6 -21.7 25.2 41.4 8.8 33.6 74.0 82.4 -16.8 23

 24 REITs -0.2 3.2 9.0 -8.1 -1.8 0.6 8.3 11.5 -2.9 15.8 24

 25 Brokers and dealers 9.0 1.2 -4.8 0.5 15.0 -2.3 14.1 14.1 -8.1 23.5 25

 26 Holding companies -0.2 0.3 0.6 1.1 -1.3 -0.5 1.4 4.5 0.9 1.9 26

 27 Rest of the world 17.6 26.8 30.3 11.1 63.4 141.9 92.0 127.1 12.3 154.6 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.106, line 44.
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Historical Annuals, 1995-2004, March 10, 2016 51

F.212 Municipal Securities

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 203.7 1

 2 State and local governments -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 178.5 2

 3 Short-term (1) 1.2 6.3 8.3 -6.3 2.6 1.4 23.8 25.2 10.4 22.2 3

 4 Long-term -62.1 -22.0 37.3 72.9 36.3 15.1 81.5 118.7 110.1 156.3 4

 5 Nonprofit organizations (2) 0.2 6.1 7.1 11.8 10.4 5.8 13.8 12.6 13.8 14.7 5

 6 Nonfinancial corporate business 3.1 3.1 4.2 5.8 5.1 1.4 3.5 2.9 3.3 10.6 6

 (industrial revenue bonds)

 7 Net change in assets -57.6 -6.5 56.9 84.2 54.4 23.6 122.7 159.4 137.6 203.7 7

 8 Household sector -60.5 -40.5 21.5 0.8 28.6 6.2 56.4 83.6 15.8 118.5 8

 9 Nonfinancial corporate business -19.9 -5.8 -3.6 -1.6 -0.7 6.9 -2.6 2.8 3.3 -3.6 9

 10 Nonfinancial noncorporate business 0.6 0.4 0.5 -0.4 -0.1 -0.3 1.1 -0.1 -0.7 1.7 10

 11 State and local governments -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.4 1.2 11

 12 U.S.-chartered depository institutions -4.3 1.1 2.5 8.6 6.3 3.4 7.9 2.5 11.8 9.1 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 Banks in U.S.-affiliated areas 0.1 -0.1 -0.0 -0.1 0.1 0.1 -0.2 0.0 0.1 -0.2 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 7.0 14.4 2.6 16.5 -9.1 -14.9 -10.3 9.2 41.2 43.6 16

 17 Life insurance companies -0.9 1.5 0.1 1.7 1.7 -1.0 -0.4 1.2 6.2 4.0 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 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -1.8 19

 20 Money market mutual funds 14.3 16.8 22.5 26.2 18.4 32.6 27.3 16.4 23.0 13.5 20

 21 Mutual funds 3.2 3.1 6.5 22.8 -3.2 -9.0 22.6 23.8 13.0 4.1 21

 22 Closed-end funds 4.8 1.0 0.3 1.3 9.0 -2.0 7.0 11.3 3.2 -0.1 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 2.7 4.3 0.5 6.5 3.6 2.9 6.2 4.0 5.0 0.3 24

 25 Brokers and dealers -2.7 -1.9 2.4 -0.1 -1.2 -0.7 7.7 2.0 3.8 7.1 25

 26 Rest of the world 1.0 1.0 1.0 1.0 1.0 0.2 0.0 3.5 8.0 6.5 26

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

(2) Liability of the households and nonprofit organizations sector (tables F.101 and L.101).
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52 Historical Annuals, 1995-2004, March 10, 2016

F.213 Corporate and Foreign Bonds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues 303.8 296.2 317.1 484.0 368.4 352.4 569.4 513.8 576.2 726.1 1

 2 Nonfinancial corporate business 65.7 87.7 127.5 207.5 206.9 151.2 293.4 82.3 73.5 -12.3 2

 3 Domestic financial sectors 181.2 141.9 130.0 247.6 151.1 180.0 296.5 427.7 501.9 705.9 3

 4 U.S.-chartered depository institutions 2.7 7.3 10.8 10.3 3.8 14.1 5.7 -0.8 6.5 12.9 4

 5 ABS issuers (net) (1) 90.5 69.2 48.0 133.2 17.4 50.5 165.8 299.2 300.5 480.9 5

 6 Finance companies 52.6 36.8 4.7 24.2 64.7 72.9 68.1 64.0 107.9 74.1 6

 7 REITs 0.2 1.3 14.8 21.7 8.4 2.9 4.6 14.0 23.8 61.9 7

 8 Brokers and dealers -5.0 -2.0 8.1 7.2 -17.2 15.6 1.4 -1.7 6.4 15.2 8

 9 Holding companies 15.8 0.1 13.0 17.1 16.7 22.0 28.7 22.6 41.4 48.7 9

 10 Funding corporations 24.4 29.2 30.6 34.0 57.4 1.9 22.2 30.5 15.4 12.2 10

 11 Rest of the world (2) 56.9 66.6 59.6 28.8 10.4 21.3 -20.5 3.8 0.8 32.5 11

 12 Net purchases (3) 303.8 296.2 317.1 484.0 368.4 352.4 569.4 513.8 576.2 726.1 12

 13 Household sector 40.2 12.5 -12.4 21.1 -99.6 82.7 -30.0 180.2 -224.8 -99.9 13

 14 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 State and local governments 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 3.8 12.0 15

 16 U.S.-chartered depository institutions -4.7 -14.7 8.0 60.4 61.2 47.2 38.9 -5.2 33.5 46.6 16

 17 MBS and other ABS -0.1 -7.2 -6.5 19.4 11.7 8.0 18.2 -7.8 31.3 8.6 17

 18 Other -4.6 -7.5 14.4 41.0 49.5 39.2 20.7 2.6 2.2 38.0 18

 19 Foreign banking offices in U.S. 4.0 3.0 2.2 5.2 -5.1 7.7 34.2 -1.0 0.1 24.2 19

 20 Banks in U.S.-affiliated areas -0.1 -0.1 0.1 0.5 -0.5 0.3 0.6 -0.3 0.4 -0.2 20

 21 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 2.3 0.6 21

 22 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 2.3 0.6 23

 24 Property-casualty insurance companies 12.7 18.3 18.9 11.6 10.0 6.4 8.9 2.4 20.0 26.4 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 12.7 18.3 18.9 11.6 10.0 6.4 8.9 2.4 20.0 26.4 26

 27 Life insurance companies 90.7 79.2 85.7 82.6 41.2 47.9 119.5 105.7 170.4 145.9 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other 90.7 79.2 85.7 82.6 41.2 47.9 119.5 105.7 170.4 145.9 29

 30 Private pension funds 14.1 3.0 33.8 20.1 43.1 -76.6 -22.9 11.7 21.2 -7.6 30

 31 Federal government retirement funds 0.1 0.1 0.0 0.1 -0.0 0.0 0.9 1.3 0.7 0.3 31

 32 State and local govt. retirement funds 10.0 22.5 33.5 35.4 30.4 4.8 -35.0 -62.5 -9.9 40.1 32

 33 Money market mutual funds 6.4 2.4 12.5 45.8 42.6 23.5 23.8 7.2 39.9 -1.1 33

 34 Mutual funds 23.1 33.0 40.9 62.5 26.3 -10.5 65.2 50.6 77.8 62.9 34

 35 Closed-end funds 5.4 1.9 -0.0 4.7 1.8 -2.7 -3.8 0.1 31.6 8.5 35

 36 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 0.6 1.0 36

 37 Government-sponsored enterprises 9.9 8.1 6.0 24.6 28.8 19.1 24.6 33.5 33.5 192.0 37

 38 MBS and other ABS 9.9 8.1 5.9 24.5 28.8 12.4 20.6 37.7 38.0 119.0 38

 39 Other 0.0 0.0 0.2 0.1 0.0 6.7 4.0 -4.1 -4.5 73.0 39

 40 Finance companies 13.0 15.5 9.7 7.1 27.0 18.8 19.0 18.1 53.3 -7.7 40

 41 REITs 0.8 1.4 2.1 -0.4 3.1 0.2 0.4 0.6 8.5 17.1 41

 42 Brokers and dealers 11.7 13.1 5.7 -17.9 11.9 17.2 47.3 32.1 36.2 18.7 42

 43 Holding companies 0.6 2.8 5.0 -0.7 1.2 -2.8 2.1 -2.4 1.3 1.3 43

 44 Funding corporations 9.8 12.8 -3.4 4.5 -3.8 -8.9 45.8 -14.4 54.9 -14.5 44

 45 Rest of the world (4) 49.2 70.8 67.4 105.2 137.4 168.3 218.3 123.2 220.8 259.5 45

 46 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.7 57.0 130.9 46

 47 Other 49.2 70.8 67.4 105.2 137.4 168.3 218.3 117.6 163.8 128.6 47

(1) Net issuance less net acquisition of corporate bonds held as assets.

(2) Net purchases of foreign issues by U.S. residents.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
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Historical Annuals, 1995-2004, March 10, 2016 53

F.214 Loans (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 By instrument

 1 Total loans 515.2 588.4 684.9 959.0 1037.7 1095.5 771.2 847.2 1200.5 1767.3 1

 2 Depository institution loans n.e.c. 111.0 97.9 140.6 133.3 89.1 113.1 -86.5 -98.5 -46.3 52.8 2

 3 Other loans and advances 70.8 117.0 160.5 243.9 261.6 246.4 23.9 -68.7 148.1 319.0 3

 4 Mortgages 186.4 267.8 313.5 484.6 574.6 559.3 683.2 909.2 992.8 1278.3 4

 5 Home 167.5 223.2 234.6 356.5 427.5 425.0 553.1 756.2 814.3 1022.2 5

 6 Multifamily residential 6.1 12.3 11.9 34.3 40.3 29.3 41.6 40.1 69.9 53.7 6

 7 Commercial 11.1 29.6 62.9 89.2 102.7 107.5 84.7 106.1 120.8 189.9 7

 8 Farm 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 8

 9 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 9

 By sector

 10 Total liabilities 515.2 588.4 684.9 959.0 1037.7 1095.5 771.2 847.2 1200.5 1767.3 10

 11 Domestic nonfinancial sectors 473.6 472.1 577.4 742.8 855.0 926.6 714.6 886.6 1056.4 1521.2 11

 12 Household sector 322.8 334.5 336.5 422.1 538.6 575.9 613.5 751.4 1025.2 1118.7 12

 13 Nonfinancial corporate business 105.3 72.0 133.9 141.5 124.2 157.9 -62.5 -17.2 -42.7 147.5 13

 14 Nonfinancial noncorporate business 45.3 70.4 101.9 179.0 193.8 192.4 163.5 151.9 73.9 254.7 14

 15 Federal government 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 State and local governments 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 16

 17 Domestic financial sectors 35.5 105.2 93.0 216.8 194.1 161.3 75.5 -30.5 146.5 248.8 17

 18 U.S.-chartered depository institutions 3.6 26.8 35.2 89.0 104.2 43.2 23.3 2.8 26.1 68.8 18

 19 Credit unions -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 19

 20 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Life insurance companies -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 21

 22 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Finance companies -1.7 8.5 -0.0 6.0 13.8 3.6 20.5 16.8 5.8 30.0 23

 24 REITs 4.3 10.6 24.8 40.8 0.1 -0.1 -0.8 13.0 8.5 32.7 24

 25 Brokers and dealers 30.1 47.5 33.0 69.7 59.6 110.8 36.6 -66.3 85.5 115.8 25

 26 Holding companies -0.6 10.6 -0.3 10.1 13.4 4.5 -6.3 -0.7 15.5 -3.8 26

 27 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Rest of the world 6.1 11.1 14.4 -0.6 -11.3 7.5 -18.9 -9.0 -2.5 -2.7 28

 29 Total assets 515.2 588.4 684.9 959.0 1037.7 1095.5 771.2 847.2 1200.5 1767.3 29

 30 Domestic nonfinancial sectors -0.9 32.5 68.8 69.4 42.4 128.1 48.5 -45.5 73.7 164.3 30

 31 Household sector 22.5 37.0 22.9 68.2 65.1 114.3 47.4 -52.2 84.6 127.4 31

 32 Nonfinancial corporate business 0.0 -10.9 32.6 -18.0 -29.3 7.7 -5.3 4.7 -13.5 15.0 32

 33 Nonfinancial noncorporate business -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 33

 34 Federal government -24.7 3.9 11.3 5.6 4.3 8.1 3.9 8.0 -2.4 2.3 34

 35 State and local governments 3.3 3.8 3.7 6.1 4.4 -1.3 -0.8 -5.3 4.9 15.1 35

 36 Domestic financial sectors 516.1 552.0 598.8 890.6 1018.1 969.6 724.4 882.5 1127.6 1596.8 36

 37 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 U.S.-chartered depository institutions 204.2 181.1 211.4 244.7 305.7 355.8 119.0 254.3 322.0 609.3 38

 39 Foreign banking offices in U.S. 26.4 31.9 18.2 -17.4 -34.7 18.5 -28.3 -28.9 -26.2 5.0 39

 40 Banks in U.S.-affiliated areas 2.7 2.0 1.4 2.3 2.3 3.0 7.8 -2.7 4.4 8.3 40

 41 Credit unions 16.7 21.7 18.4 13.8 26.7 30.4 21.5 24.4 33.3 40.1 41

 42 Property-casualty insurance companies -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 42

 43 Life insurance companies 7.8 -0.4 3.0 8.8 11.3 9.1 10.0 9.2 10.8 15.9 43

 44 Private pension funds 0.8 0.7 0.8 -0.2 1.8 0.2 -2.2 0.6 -0.1 -0.2 44

 45 State and local govt. retirement funds 0.7 0.8 0.9 4.8 3.3 -3.6 -1.1 0.1 -0.7 -5.4 45

 46 Mutual funds 0.2 0.8 3.4 2.7 2.9 4.3 -7.3 0.5 -1.1 9.6 46

 47 Government-sponsored enterprises 17.5 22.4 26.5 99.9 108.6 63.6 63.9 66.0 116.6 60.5 47

 48 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 48

 49 ABS issuers 89.9 104.8 136.1 227.1 133.2 147.3 189.3 168.0 150.9 459.1 49

 50 Finance companies 46.5 27.1 14.0 84.9 106.9 136.5 49.9 103.7 122.9 214.9 50

 51 REITs 0.8 -0.3 9.1 3.4 -0.4 -6.0 0.4 10.2 20.7 54.7 51

 52 Brokers and dealers 3.9 17.2 40.2 20.9 75.3 9.3 -37.4 -49.5 34.4 86.7 52

 53 Holding companies 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 53

 54 Funding corporations 0.2 1.5 1.0 0.9 2.5 2.7 -0.1 -1.2 -0.9 -0.3 54

 55 Rest of the world 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
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54 Historical Annuals, 1995-2004, March 10, 2016

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 111.0 97.9 140.6 133.3 89.1 113.1 -86.5 -98.5 -46.3 52.8 1

 2 Household sector 18.5 -10.1 9.8 -7.6 -25.9 -4.4 -16.1 -24.0 8.0 -20.0 2

 3 Corporate business 77.3 43.8 55.1 80.7 48.6 55.2 -105.1 -103.4 -91.4 4.0 3

 4 Noncorporate business 11.5 29.2 46.7 25.5 49.6 50.4 43.5 23.7 10.4 33.0 4

 5 Domestic financial sectors -2.9 24.9 12.7 29.3 22.4 3.1 6.4 11.9 27.2 35.0 5

 6 Finance companies -1.7 8.5 -0.0 6.0 13.8 3.6 20.5 16.8 5.8 30.0 6

 7 REITs -1.0 2.7 9.9 16.0 -7.1 -4.8 -3.1 1.8 -0.4 7.2 7

 8 Brokers and dealers 0.5 3.0 3.1 -2.8 2.3 -0.3 -4.8 -6.0 6.3 1.6 8

 9 Holding companies -0.6 10.6 -0.3 10.1 13.4 4.5 -6.3 -0.7 15.5 -3.8 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world 6.6 10.1 16.3 5.4 -5.6 8.8 -15.2 -6.7 -0.5 1.0 11

 12 Foreign official institutions -0.2 0.5 -0.7 1.4 0.2 0.2 0.4 0.4 -1.0 1.0 12

 13 Foreign banks 2.0 3.3 -0.5 -0.7 -3.4 3.3 -6.2 -8.7 5.5 3.5 13

 14 Other foreign 4.8 6.3 17.5 4.7 -2.4 5.3 -9.3 1.7 -5.0 -3.5 14

 15 Net change in assets 111.0 97.9 140.6 133.3 89.1 113.1 -86.5 -98.5 -46.3 52.8 15

 16 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 U.S.-chartered depository institutions 74.3 60.6 112.6 139.1 117.8 93.7 -63.3 -66.4 -24.2 40.6 17

 18 Foreign banking offices in U.S. 34.4 35.4 26.9 -7.1 -29.6 17.4 -28.4 -29.7 -24.7 5.5 18

 19 Banks in U.S.-affiliated areas 1.8 1.4 0.9 0.9 0.5 1.1 4.5 -4.3 0.3 1.8 19

 20 Credit unions 0.4 0.4 0.2 0.4 0.4 1.0 0.7 1.9 2.3 4.9 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to the household, rest of the world, broker and dealer, and funding corporation sectors. See loan details on table F.109.
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Historical Annuals, 1995-2004, March 10, 2016 55

F.216 Other Loans and Advances

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total other loans and advances 70.8 117.0 160.5 243.9 261.6 246.4 23.9 -68.7 148.1 319.0 1

 2 U.S. government loans -13.5 2.6 5.9 -2.4 -7.0 -2.7 -7.8 -0.5 -1.8 -3.0 2

 3 Liab.: Household sector -9.7 9.3 -2.4 -0.4 -0.2 -1.2 -1.2 -0.9 -0.6 -0.9 3

 4 Nonfinancial corporate business -1.8 -0.7 0.4 -0.3 -0.3 0.1 -1.3 1.0 0.8 0.3 4

 5 Nonfinancial noncorporate business -1.4 -0.5 4.4 -0.9 -0.1 -1.4 -4.3 0.8 -0.1 1.0 5

 6 State and local governments 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 6

 7 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world -0.8 -0.7 -1.6 -1.0 -4.8 -0.6 -1.1 -1.9 -2.0 -3.7 10

 11 Foreign loans to U.S. corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 11

 12 Liab.: Nonfinancial corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 2.4 1.6 -0.2 -4.6 -2.5 -0.7 -2.3 0.3 -0.2 -0.5 13

 14 Foreign banking offices in U.S. -2.9 -0.6 -2.5 -4.7 -0.6 -0.0 -0.6 -0.4 -0.0 0.1 14

 15 Liab.: Nonfinancial corporate business -0.8 -0.7 -2.6 -4.3 -2.2 -0.0 -0.3 0.3 -0.2 -0.4 15

 16 Rest of the world 0.3 1.8 -0.2 -5.0 -0.9 -0.7 -2.6 -0.4 0.0 0.1 16

 17 Holding company loans 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 17

 18 Liab.: Nonfinancial corporate business 0.4 0.2 -0.0 1.7 -1.6 -0.9 0.3 0.9 5.0 -2.5 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) 10.5 4.5 3.2 0.1 -4.8 2.8 2.2 1.0 -0.7 1.6 20

 21 Asset: Federal government 0.1 0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 21

 22 Life insurance companies 10.4 4.5 3.2 0.1 -4.7 2.9 2.2 1.0 -0.7 1.6 22

 23 Federal Home Loan Banks advances (1) 6.4 29.1 36.4 90.4 107.6 42.1 25.4 7.2 31.2 74.1 23

 24 Liab.: U.S.-chartered depository institutions 6.5 28.0 36.1 89.2 104.6 42.8 23.3 3.2 26.1 68.8 24

 25 Credit unions -0.1 0.1 0.1 0.6 2.2 0.0 1.5 2.0 2.2 2.3 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 -0.1 1.1 0.2 0.7 0.7 -0.7 0.6 2.0 2.9 3.0 27

 28 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Real estate investment trusts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Govt.-sponsored enterprises loans (2) 0.8 0.3 -1.0 3.1 0.6 3.1 2.8 1.7 -0.1 -0.6 30

 31 Liab.: Household sector (SLMA) -0.1 0.0 -0.2 -0.1 0.1 -0.3 -0.1 0.1 -0.1 -0.3 31

 32 Nonfinancial corporate business (FCS) 0.2 0.2 0.1 0.4 0.1 0.4 0.6 0.5 0.4 0.5 32

 33 Nonfinancial noncorporate business (FCS) 3.7 1.2 -0.1 2.9 0.8 2.7 2.3 1.5 -0.3 -0.8 33

 34 U.S.-chartered depository inst. (SLMA) -2.9 -1.2 -0.9 -0.2 -0.4 0.3 0.0 -0.4 0.0 0.0 34

 35 Securitized loans held by ABS issuers 5.9 8.1 24.4 23.8 -3.3 7.2 15.7 6.8 -1.0 0.0 35

 36 Liab.: Nonfinancial corporate business 5.9 8.1 24.4 23.8 -3.3 7.2 15.7 6.8 -1.0 0.0 36

 37 Finance company loans to business 26.7 3.1 -0.6 36.8 54.2 61.1 -16.0 3.8 -2.3 9.8 37

 38 Liab.: Nonfinancial corporate business 24.0 2.8 -0.5 33.1 48.8 55.0 -14.4 3.4 -2.1 8.8 38

 39 Nonfinancial noncorporate business 2.7 0.3 -0.1 3.7 5.4 6.1 -1.6 0.4 -0.2 1.0 39

 40 Margin accounts at brokers and dealers 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 40

 41 Liab.: Household sector 3.5 15.8 36.8 21.6 75.2 7.2 -38.8 -48.2 34.3 81.5 41

 42 Cash accounts at brokers and dealers 29.6 44.5 29.9 72.5 57.3 111.1 41.4 -60.3 79.2 114.1 42

 43 Asset: Household sector 29.6 44.5 29.9 72.5 57.3 111.1 41.4 -60.3 79.2 114.1 43

 44 Loans to nonfinancial corporate business (3) 1.0 3.8 11.1 6.6 9.3 18.3 3.1 8.7 5.3 38.1 44

 45 Asset: Household sector 0.1 -0.1 0.1 -0.0 0.4 1.3 0.7 0.2 0.3 2.8 45

 46 Life insurance companies 0.0 0.0 1.1 1.9 0.3 1.1 0.7 1.1 0.6 1.9 46

 47 Mutual funds 0.2 0.8 3.4 2.7 2.9 4.3 -7.3 0.5 -1.1 9.6 47

 48 ABS issuers 0.1 0.2 2.0 1.8 3.2 6.9 7.8 9.4 6.2 18.9 48

 49 Brokers and dealers 0.3 1.4 3.5 -0.7 0.1 2.1 1.3 -1.3 0.1 5.2 49

 50 Funding corporations 0.2 1.5 1.0 0.9 2.5 2.7 -0.1 -1.2 -0.9 -0.3 50

(1) The Federal Home Loan Banks are included in the government-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 23.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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56 Historical Annuals, 1995-2004, March 10, 2016

F.217 Total Mortgages (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in mortgages 186.4 267.8 313.5 484.6 574.6 559.3 683.2 909.2 992.8 1278.3 1

 2 Home 167.5 223.2 234.6 356.5 427.5 425.0 553.1 756.2 814.3 1022.2 2

 3 Multifamily residential 6.1 12.3 11.9 34.3 40.3 29.3 41.6 40.1 69.9 53.7 3

 4 Commercial 11.1 29.6 62.9 89.2 102.7 107.5 84.7 106.1 120.8 189.9 4

 5 Farm 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 5

 6 Net borrowing 186.4 267.8 313.5 484.6 574.6 559.3 683.2 909.2 992.8 1278.3 6

 7 Household sector 153.1 209.2 219.0 311.3 381.8 395.2 517.0 718.2 878.4 939.7 7

 8 Nonfinancial business 28.0 50.8 79.6 148.5 185.7 159.5 164.0 179.9 105.5 313.1 8

 9 Corporate -1.0 10.6 28.7 0.8 47.5 24.9 40.5 54.3 41.4 92.5 9

 10 Noncorporate 29.0 40.2 50.9 147.7 138.1 134.6 123.6 125.6 64.1 220.6 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 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 12

 13 Net change in assets 186.4 267.8 313.5 484.6 574.6 559.3 683.2 909.2 992.8 1278.3 13

 14 Household sector -7.2 -7.5 -7.1 -4.3 7.3 1.9 5.3 7.9 5.1 10.4 14

 15 Nonfinancial corporate business 1.6 -3.6 25.9 -13.0 -26.0 2.3 3.1 2.9 2.2 14.8 15

 16 Nonfinancial noncorporate business -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 16

 17 Federal government -13.5 -7.2 -4.5 -0.8 -0.1 -0.9 -1.1 0.5 -2.5 1.6 17

 18 State and local governments 3.3 3.8 3.7 6.1 4.4 -1.3 -0.8 -5.3 4.9 15.1 18

 19 U.S.-chartered depository institutions 82.3 89.1 109.0 108.0 185.2 216.5 160.8 288.6 284.4 520.8 19

 20 Foreign banking offices in U.S. -5.1 -2.9 -6.1 -5.7 -4.5 1.2 0.7 1.1 -1.5 -0.6 20

 21 Banks in U.S.-affiliated areas 0.9 0.6 0.6 1.5 1.7 1.9 3.3 1.7 4.1 6.5 21

 22 Credit unions 4.0 9.1 9.9 10.4 13.8 12.8 15.7 16.3 20.9 25.7 22

 23 Property-casualty insurance companies -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 23

 24 Life insurance companies -2.6 -5.0 -1.3 6.8 15.7 5.2 7.1 7.0 10.9 12.4 24

 25 Private pension funds 0.8 0.7 0.8 -0.2 1.8 0.2 -2.2 0.6 -0.1 -0.2 25

 26 State and local govt. retirement funds 0.7 0.8 0.9 4.8 3.3 -3.6 -1.1 0.1 -0.7 -5.4 26

 27 Government-sponsored enterprises (1) 6.3 -6.4 -4.7 7.6 -5.0 22.2 33.2 59.8 101.7 7.5 27

 28 Agency- and GSE-backed mortgage pools 98.3 141.0 114.6 192.7 274.6 199.7 338.5 326.8 335.4 40.8 28

 29 ABS issuers 16.9 36.1 62.8 127.9 70.6 65.5 96.4 119.2 167.2 463.5 29

 30 Finance companies 2.1 21.2 1.9 32.3 34.4 42.6 20.3 72.3 39.7 105.8 30

 31 REITs 0.8 -0.3 9.1 3.4 -0.4 -6.0 0.4 10.2 20.7 54.7 31

(1) Sum of home mortgages, multifamily residential mortgages, commercial mortgages, and farm mortgages.
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Historical Annuals, 1995-2004, March 10, 2016 57

F.218 Home Mortgages (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net borrowing 167.5 223.2 234.6 356.5 427.5 425.0 553.1 756.2 814.3 1022.2 1

 2 Household sector 153.6 205.1 215.9 301.5 379.2 383.5 508.2 706.0 872.1 934.7 2

 3 Nonfinancial corporate business -0.1 1.1 0.3 1.4 2.1 2.0 2.1 0.7 1.9 4.7 3

 4 Nonfinancial noncorporate business 13.9 17.0 18.4 53.7 46.2 39.5 42.8 49.5 -59.7 82.8 4

 5 Net change in assets 167.5 223.2 234.6 356.5 427.5 425.0 553.1 756.2 814.3 1022.2 5

 6 Household sector -8.7 -8.9 -8.9 -4.9 7.1 7.1 6.8 6.1 6.1 6.6 6

 7 Nonfinancial corporate business 1.1 -9.3 5.3 -2.7 -6.9 1.2 1.5 1.9 1.2 13.8 7

 8 Nonfinancial noncorporate business -0.8 -0.5 -0.6 2.7 -0.9 -0.2 1.2 -0.2 0.0 1.6 8

 9 Federal government -4.9 -3.0 -2.1 -0.3 -0.4 -0.7 -0.6 -0.9 -0.9 -0.5 9

 10 State and local governments 3.2 2.3 3.0 -0.8 2.3 -0.6 -0.4 -2.7 3.2 7.8 10

 11 U.S.-chartered depository institutions 60.5 61.8 74.9 63.4 97.2 131.1 85.5 208.1 201.9 389.9 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 1.0 0.6 0.1 1.1 0.6 1.0 -0.9 1.5 2.5 3.4 13

 14 Credit unions 4.0 9.1 9.9 10.4 13.8 12.8 15.7 16.3 20.9 25.7 14

 15 Life insurance companies 0.3 -1.9 0.3 -0.6 0.1 -0.8 0.4 -1.1 1.7 -0.4 15

 16 Private pension funds 0.7 0.6 0.8 0.1 0.7 1.1 -3.1 -1.8 -1.1 -0.2 16

 17 State and local govt. retirement funds 0.5 0.6 0.6 1.5 1.0 -1.1 -0.3 0.7 -0.3 -1.9 17

 18 Government-sponsored enterprises 5.4 -6.6 -4.7 5.6 -10.4 16.1 21.7 45.6 94.2 -10.5 18

 19 Agency- and GSE-backed mortgage pools 93.8 135.4 109.3 182.1 264.6 190.9 322.9 315.2 308.3 43.8 19

 20 ABS issuers 10.8 21.6 38.4 68.1 31.9 31.1 79.1 81.6 123.6 390.2 20

 21 Finance companies -1.2 20.5 2.4 30.0 28.0 39.5 22.8 75.9 34.6 101.8 21

 22 REITs 1.9 1.1 6.0 0.8 -1.2 -3.5 0.8 10.1 18.5 51.1 22

 Memo:

 23 Charge-offs (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Home equity loans included above (3) 15.7 25.1 34.4 13.0 24.4 73.6 31.0 61.8 92.7 182.6 24

 25 U.S.-chartered depository institutions 11.4 15.5 23.3 3.4 16.4 58.6 28.8 45.2 79.8 143.2 25

 26 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 26

 27 Credit unions 2.0 2.6 3.5 0.7 3.7 7.3 4.2 3.0 3.7 12.2 27

 28 ABS issuers 0.6 0.8 1.3 2.1 1.5 2.1 1.9 2.6 1.1 7.5 28

 29 Finance companies 1.6 6.1 6.3 6.7 2.8 5.7 -3.9 10.9 8.0 19.7 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from the flow (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars

 1 Net borrowing 6.1 12.3 11.9 34.3 40.3 29.3 41.6 40.1 69.9 53.7 1

 2 Nonfinancial corporate business 0.2 0.5 0.3 1.3 1.9 1.3 2.0 1.9 3.5 2.5 2

 3 Nonfinancial noncorporate business 4.1 9.2 6.6 24.8 36.4 25.0 38.1 36.5 65.9 47.6 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 1.8 2.6 4.9 8.2 2.1 3.1 1.5 1.7 0.5 3.6 5

 6 Net change in assets 6.1 12.3 11.9 34.3 40.3 29.3 41.6 40.1 69.9 53.7 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.8 0.7 0.6 -0.3 -0.2 -0.1 0.1 0.0 0.0 0.0 8

 9 Nonfinancial noncorporate business -0.7 -0.5 -0.5 2.6 -0.8 -0.2 1.2 -0.2 0.0 1.6 9

 10 Federal government -4.3 -2.9 -0.9 -0.3 -0.0 0.3 -0.2 0.5 0.2 0.4 10

 11 State and local governments 0.6 1.8 0.6 4.5 1.8 -0.5 -0.3 -2.1 2.0 6.1 11

 12 U.S.-chartered depository institutions 2.3 2.5 2.2 2.5 15.3 12.1 10.4 13.4 19.6 23.8 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 0.9 2.0 -0.3 1.4 0.8 0.9 2.0 1.2 1.7 1.9 14

 15 Private pension funds -0.0 0.0 -0.0 -0.1 0.2 0.0 0.3 0.5 0.3 0.0 15

 16 State and local govt. retirement funds 0.2 0.2 0.2 1.3 0.9 -1.0 -0.2 0.3 -0.2 -1.6 16

 17 Government-sponsored enterprises 0.5 -0.8 -1.5 -0.0 4.3 4.5 8.2 8.5 12.1 14.3 17

 18 Agency- and GSE-backed mortgage pools 4.5 5.6 5.3 10.5 9.2 8.5 15.6 12.9 26.5 -3.0 18

 19 ABS issuers 2.1 3.8 4.6 12.8 8.5 5.4 5.4 6.6 7.3 10.3 19

 20 Finance companies 1.3 0.0 0.8 -0.5 0.0 0.0 -0.5 -1.4 0.0 -0.1 20

 21 REITs -0.6 -0.4 0.9 0.1 0.2 -0.6 -0.3 -0.1 0.2 0.1 21
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58 Historical Annuals, 1995-2004, March 10, 2016

F.220 Commercial Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net borrowing 11.1 29.6 62.9 89.2 102.7 107.5 84.7 106.1 120.8 189.9 1

 2 Household sector -0.6 4.1 3.1 9.9 2.5 11.6 8.8 12.2 6.3 5.0 2

 3 Nonfinancial corporate business -1.7 8.3 27.2 -3.0 42.5 21.2 34.9 49.4 36.8 82.1 3

 4 Nonfinancial noncorporate business 9.7 12.0 22.6 65.7 52.5 73.0 40.3 35.0 69.4 80.9 4

 5 REITs 3.6 5.3 10.0 16.6 5.1 1.7 0.7 9.5 8.4 21.9 5

 6 Net change in assets 11.1 29.6 62.9 89.2 102.7 107.5 84.7 106.1 120.8 189.9 6

 7 Household sector 0.9 0.6 0.6 0.9 0.8 1.7 -0.7 1.3 1.0 1.3 7

 8 Nonfinancial corporate business 1.2 5.1 20.0 -10.0 -19.0 1.1 1.5 1.0 1.0 1.0 8

 9 Nonfinancial noncorporate business -0.6 -0.4 -0.4 2.0 -0.5 -0.2 0.9 -0.2 0.0 1.2 9

 10 Federal government -3.8 -0.9 -0.7 0.1 0.6 -0.4 -0.1 1.2 -1.6 1.8 10

 11 State and local governments -0.5 -0.2 0.2 2.5 0.4 -0.1 -0.1 -0.4 0.4 1.2 11

 12 U.S.-chartered depository institutions 18.3 23.7 29.9 40.2 70.4 71.1 63.7 65.2 66.9 101.5 12

 13 Foreign banking offices in U.S. -5.1 -2.9 -6.1 -5.7 -4.5 1.2 0.7 1.1 -1.5 -0.6 13

 14 Banks in U.S.-affiliated areas -0.0 -0.1 0.5 0.4 1.2 0.8 4.2 0.2 1.6 3.1 14

 15 Property-casualty insurance companies -1.0 -0.4 -0.2 -0.3 -0.0 -0.3 0.2 0.1 0.1 0.3 15

 16 Life insurance companies -4.0 -5.6 -1.5 5.0 14.1 4.7 4.6 6.7 8.9 10.1 16

 17 Private pension funds 0.1 0.1 0.1 -0.2 0.9 -0.9 0.6 2.0 0.8 0.0 17

 18 State and local govt. retirement funds 0.0 -0.0 -0.0 2.0 1.3 -1.5 -0.6 -0.9 -0.2 -1.8 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 4.0 10.7 19.8 47.1 30.2 29.0 11.9 31.0 36.3 63.0 20

 21 Finance companies 2.0 0.7 -1.3 2.7 6.3 3.1 -2.0 -2.2 5.1 4.1 21

 22 REITs -0.5 -1.0 2.2 2.5 0.6 -2.0 -0.1 0.2 2.0 3.5 22

F.221 Farm Mortgages (1)

Billions of dollars

 1 Net borrowing 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 1

 2 Nonfinancial corporate business 0.6 0.7 0.8 1.1 1.0 0.4 1.5 2.3 -0.8 3.2 2

 3 Nonfinancial noncorporate business 1.2 2.0 3.3 3.5 3.1 -2.9 2.4 4.6 -11.4 9.3 3

 4 Net change in assets 1.8 2.7 4.1 4.6 4.1 -2.5 3.8 6.9 -12.2 12.5 4

 5 Household sector 0.6 0.8 1.2 -0.2 -0.6 -6.9 -0.9 0.6 -2.0 2.5 5

 6 Nonfinancial noncorporate business -0.0 -0.0 -0.0 0.2 -0.0 -0.0 0.1 -0.0 0.0 0.1 6

 7 Federal government -0.5 -0.5 -0.9 -0.3 -0.2 -0.1 -0.2 -0.3 -0.3 -0.2 7

 8 State and local governments -0.0 -0.1 -0.0 -0.1 0.0 -0.0 -0.0 -0.1 -0.6 0.1 8

 9 U.S.-chartered depository institutions 1.2 1.1 2.0 2.0 2.4 2.2 1.3 2.0 -4.0 5.6 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 0.1 0.4 0.3 1.0 0.7 0.4 0.2 0.2 -1.4 0.7 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 0.3 1.0 1.5 2.0 1.1 1.6 3.3 5.7 -4.6 3.8 13

 14 Agency- and GSE-backed mortgage pools 0.1 -0.0 0.0 0.1 0.8 0.3 0.0 -1.3 0.6 -0.1 14

(1) Excludes mortgages on farm houses.
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Historical Annuals, 1995-2004, March 10, 2016 59

F.222 Consumer Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities (Households) 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 1

 2 Net change in assets 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 2

 3 Households (nonprofit organizations) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business -1.6 -7.3 6.7 -5.1 -3.2 5.4 -8.4 1.7 -15.7 0.1 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 6

 7 U.S.-chartered depository institutions 45.2 29.7 -9.9 2.1 5.1 46.4 23.7 31.7 62.0 48.3 7

 8 Credit unions 12.3 12.2 8.2 3.0 12.5 16.5 5.1 6.2 10.1 9.5 8

 9 Government-sponsored enterprises 4.0 -0.6 -4.2 -1.2 5.4 -3.9 2.4 -2.6 -16.3 -20.6 9

 10 ABS issuers 67.0 60.4 47.0 73.5 62.7 67.7 69.4 32.6 -21.6 -23.2 10

 11 Finance companies 17.7 2.8 12.6 15.8 18.3 32.8 45.5 27.5 85.5 99.3 11

 Memo:

 12 Credit card loans (3) 81.8 59.5 31.1 42.1 29.8 74.8 32.8 37.0 18.3 34.0 12

 13 Auto loans 36.9 30.6 25.5 38.4 49.4 66.2 93.0 34.6 50.7 38.4 13

 14 Student loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other consumer credit (5) 28.4 15.6 13.7 16.5 33.2 35.6 24.7 33.6 37.0 44.8 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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60 Historical Annuals, 1995-2004, March 10, 2016

F.223 Corporate Equities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net issues -0.1 14.3 -47.7 -110.6 5.6 5.6 100.9 64.4 158.5 109.4 1

 2 Nonfinancial corporate business -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 2

 3 Domestic financial sectors -7.2 -21.3 -27.9 3.5 1.7 17.1 39.9 71.5 66.0 118.1 3

 4 U.S.-chartered depository institutions 2.6 3.2 3.2 3.8 3.8 4.4 8.2 5.5 9.1 5.6 4

 5 Property-casualty insurance companies -2.2 -4.8 -13.7 -4.7 -7.8 -4.5 0.5 6.2 4.1 -4.0 5

 6 Life insurance companies -3.6 -8.8 -4.0 -4.7 -6.0 -0.8 -0.9 -6.5 -3.9 -17.3 6

 7 Closed-end funds 8.0 0.3 -11.2 -6.8 -4.9 -5.5 1.9 18.0 43.6 32.3 7

 8 Exchange-traded funds 0.4 1.1 3.4 6.0 12.2 42.4 31.0 45.3 15.8 56.4 8

 9 REITs 7.6 12.3 32.5 19.8 6.6 2.2 6.1 8.4 13.3 21.5 9

 10 Government-sponsored enterprises -0.6 -0.4 -1.4 2.6 4.0 -0.3 1.6 -0.2 1.7 9.3 10

 11 Brokers and dealers -8.1 -6.5 -5.9 2.5 7.6 -4.2 6.7 10.2 -8.0 2.6 11

 12 Holding companies -11.3 -17.5 -30.9 -15.0 -13.8 -16.5 -15.3 -15.4 -9.6 11.7 12

 13 Funding corporations (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Rest of the world (3) 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 14

 15 Net purchases -0.1 14.3 -47.7 -110.6 5.6 5.6 100.9 64.4 158.5 109.4 15

 16 Household sector -72.2 -157.0 -221.5 -285.7 -149.6 -640.3 -490.1 -182.6 -105.1 -274.9 16

 17 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 State and local governments 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -8.0 5.4 18

 19 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 U.S.-chartered depository institutions 2.8 2.4 0.8 2.8 1.3 0.7 3.4 1.3 1.4 -1.4 20

 21 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 21

 22 Property-casualty insurance companies -0.9 -7.1 2.6 -5.4 -1.7 0.3 -0.7 -1.0 -4.0 -4.5 22

 23 Life insurance companies 28.2 44.5 72.0 82.4 116.8 111.5 70.1 52.7 45.5 51.5 23

 24 Private pension funds -90.6 -91.3 -151.8 -30.8 -178.4 63.7 105.5 -63.6 -3.4 21.2 24

 25 Federal government retirement funds 2.6 4.2 4.4 4.0 4.4 5.2 -0.6 7.7 16.7 8.6 25

 26 State and local govt. retirement funds 19.3 18.0 13.3 -28.2 -11.8 13.5 118.1 91.9 33.4 9.3 26

 27 Mutual funds 87.4 193.0 166.8 143.3 136.4 193.1 109.8 31.4 137.2 158.5 27

 28 Closed-end funds -0.5 -2.6 -10.0 -11.8 -14.5 0.1 -1.3 9.3 8.2 21.6 28

 29 Exchange-traded funds 0.4 1.1 3.4 6.0 12.2 42.4 31.0 41.6 15.1 52.6 29

 30 Brokers and dealers 7.7 -1.9 2.4 -6.0 7.7 9.6 17.3 3.2 4.1 15.2 30

 31 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Rest of the world (4) 3.5 -3.5 53.2 27.4 104.5 199.7 134.3 62.2 17.5 46.3 32

(1) Excludes mutual fund shares shown on table F.224.

(2) Preferred shares issued by AIG to the federal goverment under the TARP program and the monetary authority sector’s preferred interest in AIA Aurora LLC and ALICO Holdings LLC.

(3) Net purchases of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(4) Net purchases of U.S. issues by foreign residents.

F.224 Mutual Fund Shares (1)

Billions of dollars

 1 Net issues 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 1

 2 Net purchases 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 2

 3 Household sector 50.0 156.7 180.4 172.2 97.9 79.4 130.5 79.7 261.4 180.0 3

 4 Nonfinancial corporate business 4.6 9.1 1.7 14.6 9.8 0.3 4.3 -0.2 5.8 -1.3 4

 5 State and local governments -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -1.7 3.5 5

 6 U.S.-chartered depository institutions 0.3 0.3 0.8 -0.4 2.3 2.5 7.8 1.7 -6.2 -0.9 6

 7 Credit unions 0.2 -0.3 -0.2 1.2 -1.1 -0.3 1.5 -0.2 0.5 -0.9 7

 8 Property-casualty insurance companies 0.3 0.3 0.4 0.3 0.1 0.4 0.4 -0.1 1.3 1.0 8

 9 Life insurance companies 3.9 4.5 7.2 9.4 10.1 5.5 2.2 2.6 0.5 12.8 9

 10 Private pension funds 68.6 51.6 65.2 61.8 65.8 107.1 43.0 76.1 16.1 87.1 10

 11 State and local govt. retirement funds 10.7 2.2 14.7 19.8 7.4 50.7 31.4 28.3 -3.6 3.6 11

 12 Rest of the world 12.3 13.8 13.1 13.8 7.1 -9.2 -16.7 -9.2 13.9 11.5 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, 1995-2004, March 10, 2016 61

F.225 Trade Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in trade payables 117.8 116.2 125.8 109.0 257.3 394.4 -82.0 91.1 17.5 189.9 1

 2 Household sector 7.9 8.0 8.9 8.7 4.1 3.8 -1.9 19.1 4.8 16.5 2

 3 Nonfinancial corporate business 81.2 49.7 65.3 57.7 178.5 312.6 -103.6 19.8 -54.7 97.7 3

 4 Nonfinancial noncorporate business 13.8 31.8 31.9 30.3 34.5 41.5 -4.8 25.4 -26.2 23.7 4

 5 Federal government -4.5 1.1 -8.3 -7.6 0.2 5.7 3.2 1.0 71.7 15.4 5

 6 State and local governments 17.2 18.2 19.6 20.8 22.8 25.0 27.0 28.3 28.8 30.0 6

 7 Brokers and dealers 1.1 4.0 5.7 -1.0 11.9 5.1 3.3 -1.8 -9.2 7.8 7

 8 Rest of the world 1.1 3.3 2.8 0.0 5.2 0.7 -5.3 -0.6 2.3 -1.1 8

 9 Net change in trade receivables 118.6 138.7 150.7 123.2 241.6 389.0 -83.2 -65.1 -13.3 187.0 9

 10 Nonfinancial corporate business 78.0 88.1 88.0 87.3 209.2 281.6 -121.3 -98.4 -17.7 128.9 10

 11 Nonfinancial noncorporate business 15.3 29.5 35.1 28.2 39.4 69.6 1.8 18.9 -25.1 26.6 11

 12 Federal government -1.6 0.9 -3.2 1.5 4.6 5.3 7.3 -3.3 19.1 10.5 12

 13 State and local governments 6.1 5.6 6.3 7.0 8.7 4.9 6.0 2.6 -1.9 8.5 13

 14 Property-casualty insurance companies 4.4 -0.1 2.7 1.6 2.0 1.0 5.3 4.9 4.5 0.3 14

 15 ABS issuers 15.8 9.1 20.9 4.0 -17.8 16.1 12.6 -5.6 8.8 10.3 15

 16 Rest of the world 0.7 5.5 0.9 -6.5 -4.5 10.4 5.2 15.8 -1.0 2.0 16

 17 Discrepancy -0.8 -22.6 -24.9 -14.2 15.8 5.4 1.2 156.2 30.8 2.9 17

F.226 Life Insurance Reserves

Billions of dollars

 1 Net change in liabilities 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 1

 2 Federal government 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 2

 3 Life insurance companies 44.8 43.8 57.6 46.3 51.7 48.7 76.1 60.6 67.4 32.0 3

 4 Net change in assets 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 4

 5 Households 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7
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62 Historical Annuals, 1995-2004, March 10, 2016

F.227 Pension Entitlements

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 340.4 311.7 391.1 464.4 364.9 452.2 469.2 486.4 506.7 615.6 1

 2 Life insurance companies (1) 72.5 35.6 79.0 83.9 62.3 141.9 131.4 151.2 25.0 123.8 2

 3 Private pension funds (2) 89.6 91.2 96.9 154.6 73.1 101.5 105.1 86.0 197.0 195.4 3

 4 Federal government retirement funds (3) 73.3 73.6 73.8 76.1 78.2 79.8 82.3 95.2 103.2 95.6 4

 5 State and local govt. retirement funds 105.0 111.3 141.3 149.8 151.2 129.1 150.4 154.1 181.5 200.7 5

 6 Net change in assets (Households) (4) 340.4 311.7 391.1 464.4 364.9 452.2 469.2 486.4 506.7 615.6 6

 Memo:

 7 Individual Retirement Accounts (IRAs) at: (5) 122.2 132.8 151.8 191.5 219.7 228.6 169.9 174.8 160.4 175.9 7

 8 U.S.-chartered depository institutions 4.5 -3.2 -5.9 -5.7 -6.4 6.6 1.3 4.7 1.5 0.7 8

 9 Credit unions 1.2 0.9 1.2 0.3 0.9 0.4 3.2 3.4 3.5 0.9 9

 10 Life insurance companies 11.2 10.3 47.5 24.6 40.8 19.5 26.6 82.2 5.2 -1.2 10

 11 Money market mutual funds 14.0 15.0 -2.0 25.0 17.0 5.0 18.0 9.0 -13.0 -15.0 11

 12 Mutual funds 63.2 66.9 88.4 98.0 75.9 65.2 47.6 38.2 114.4 84.4 12

 13 Other self-directed accounts 28.0 42.8 22.6 49.3 91.5 131.9 73.2 37.3 48.8 106.1 13

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Assets of the household sector (F.101). Figures for depositories (lines 8 and 9) include Keogh accounts. Variable annuities in IRAs are included in the life insurance sector (line 10)

 and excluded from the money market mutual fund and mutual fund sectors (lines 11 and 12).

F.228 Taxes Payable by Businesses

Billions of dollars

 1 Net change in taxes payable by all 8.6 16.0 21.7 13.2 20.2 28.9 11.8 9.4 -1.9 20.5 1

 businesses

 2 Nonfinancial corporate business -0.0 9.6 9.3 4.8 7.0 7.0 3.1 11.9 -11.7 6.8 2

 3 Nonfinancial noncorporate business 0.6 2.3 4.3 4.1 8.9 11.7 4.0 1.5 -0.5 8.4 3

 4 U.S.-chartered depository institutions 5.1 2.0 5.3 3.1 2.0 9.7 3.8 10.0 1.7 -0.5 4

 5 Property-casualty insurance companies 0.7 0.6 0.5 -1.1 0.1 0.1 0.3 -7.4 4.7 0.5 5

 6 Life insurance companies 1.6 0.5 1.4 1.5 0.5 -0.4 -0.4 -7.4 1.9 3.1 6

 7 Finance companies 0.7 0.8 0.8 0.8 0.8 1.0 1.2 1.4 1.6 1.8 7

 8 Brokers and dealers -0.1 0.1 0.1 -0.1 0.9 -0.1 -0.2 -0.5 0.4 0.4 8

 9 Net change in business taxes receivable -7.0 2.0 -6.1 -4.3 11.1 -11.4 -6.8 -1.2 35.2 36.1 9

 10 Federal government -7.9 -0.3 -10.3 -9.3 1.2 -22.0 -9.8 -2.8 34.4 23.3 10

 11 State and local governments 0.9 2.3 4.2 5.0 9.9 10.6 3.0 1.5 0.8 12.9 11

 12 Discrepancy 15.6 14.0 27.8 17.5 9.1 40.3 18.6 10.7 -37.1 -15.7 12

F.229 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment 18.9 -3.0 -19.1 -37.1 -68.0 -19.5 -19.9 -71.4 54.0 70.5 1

 2 Nonfinancial noncorporate business 19.4 -3.3 -20.2 -35.7 -69.2 -19.3 -16.7 -72.0 57.4 74.6 2

 3 Brokers and dealers -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 3
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Historical Annuals, 1995-2004, March 10, 2016 63

F.230 Direct Investment

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 98.8 91.9 104.8 142.6 224.9 159.2 142.3 154.5 149.6 316.2 1

 2 Equity 94.4 82.2 98.8 116.6 163.2 171.6 130.7 128.0 156.2 296.2 2

 3 Equity (other than reinvested earnings) 40.5 27.5 40.8 72.4 98.9 78.0 60.9 42.7 35.5 133.3 3

 4 Reinvested earnings 53.9 54.7 58.0 44.2 64.3 93.6 69.8 85.3 120.7 162.9 4

 5 Of which: Current-cost adjustment 6.7 7.5 9.0 11.6 15.5 16.6 17.5 19.5 20.2 21.3 5

 6 Intercompany debt (2) 4.4 9.7 6.0 26.0 61.8 -12.4 11.6 26.5 -6.6 20.0 6

 7 U.S. parents’ claims 14.4 14.0 17.0 43.3 82.4 -5.5 23.4 39.5 18.0 57.0 7

 8 Less: U.S. parents’ liabilities 10.1 4.3 11.0 17.3 20.6 6.9 11.8 13.0 24.6 36.9 8

 9 Asset: Nonfinancial corporate business 90.3 76.8 84.3 129.2 200.7 138.0 123.8 131.1 125.3 272.4 9

 10 Of which: Current-cost adjustment 6.7 7.5 9.0 11.6 15.5 16.6 17.5 19.5 20.2 21.3 10

 11 U.S.-chartered depository institutions 1.6 3.5 3.0 2.0 2.9 10.9 1.8 3.0 6.5 8.2 11

 12 Property-casualty insurance companies 3.8 3.6 6.1 6.9 7.1 4.4 -1.4 11.2 3.6 9.1 12

 13 Life insurance companies 0.4 0.8 1.8 0.7 1.5 1.1 1.3 2.9 0.9 1.8 13

 14 Finance companies 2.5 7.3 9.0 0.5 8.5 -0.6 -0.6 0.8 1.8 -8.9 14

 15 Brokers and dealers 0.1 -0.1 0.7 3.4 4.2 5.5 17.5 5.4 11.6 33.6 15

 Foreign direct investment in U.S.:

 16 Liab.: Nonfinancial corporate business 54.9 71.5 99.0 144.9 183.1 249.5 141.4 74.4 40.0 96.0 16

 17 Of which: Current-cost adjustment -1.0 2.0 2.2 4.6 6.1 7.3 7.6 9.9 10.6 10.1 17

 18 Nonfinancial noncorporate business -0.1 0.3 0.5 0.2 0.6 -0.0 -0.0 0.4 -0.1 -0.2 18

 19 Foreign banking offices in U.S. 6.6 -0.1 7.7 5.5 19.5 5.8 6.4 2.1 4.2 17.9 19

 20 Property-casualty insurance companies 2.0 5.7 5.9 1.3 11.3 6.8 3.1 7.7 3.0 -4.8 20

 21 Life insurance companies 1.8 1.0 7.0 2.7 11.7 30.1 3.4 3.7 -5.2 20.8 21

 22 Finance companies 0.8 1.5 1.2 3.5 6.9 10.9 6.2 0.1 18.8 13.0 22

 23 Brokers and dealers 1.9 3.6 5.9 -0.6 5.2 3.1 5.6 -3.6 2.9 3.1 23

 24 Funding corporations -10.2 2.9 -21.6 21.6 51.0 15.1 1.1 -0.4 0.2 0.3 24

 25 Asset: Rest of the world (1) 57.8 86.5 105.6 179.0 289.4 321.3 167.0 84.4 63.8 146.0 25

 26 Equity 56.3 72.2 74.5 149.9 225.7 259.4 107.1 106.9 107.7 142.4 26

 27 Equity (other than reinvested earnings) 47.9 63.7 59.5 147.1 221.6 259.6 140.9 105.3 93.4 92.9 27

 28 Reinvested earnings 8.4 8.5 15.0 2.8 4.1 -0.3 -33.8 1.6 14.3 49.5 28

 29 Of which: Current-cost adjustment -1.0 2.0 2.2 4.6 6.1 7.3 7.6 9.9 10.6 10.1 29

 30 Intercompany debt 1.5 14.3 31.1 29.1 63.8 61.9 60.0 -22.6 -44.0 3.5 30

 31 U.S. affiliates’ liabilities 2.7 21.1 36.7 44.0 66.5 83.8 52.6 -10.5 -21.0 28.5 31

 32 Less: U.S. affiliates’ claims 1.2 6.8 5.6 14.9 2.7 21.9 -7.3 12.1 23.0 25.0 32

 Memo:

 Direct investment, asset/liability presentation:

 33 Net U.S. acquisition of direct investment assets 110.0 103.0 121.4 174.8 248.3 188.0 146.8 179.6 197.2 378.1 33

 34 Equity (line 2) 94.4 82.2 98.8 116.6 163.2 171.6 130.7 128.0 156.2 296.2 34

 35 Intercompany debt 15.6 20.8 22.5 58.1 85.1 16.4 16.1 51.6 41.0 82.0 35

 36 U.S. parents’ claims (line 7) 14.4 14.0 17.0 43.3 82.4 -5.5 23.4 39.5 18.0 57.0 36

 37 U.S. affiliates’ claims (line 32) 1.2 6.8 5.6 14.9 2.7 21.9 -7.3 12.1 23.0 25.0 37

 38 Net U.S. incurrence of direct investment liabilities 69.1 97.6 122.1 211.2 312.8 350.1 171.5 109.5 111.3 207.9 38

 39 Equity (line 26) 56.3 72.2 74.5 149.9 225.7 259.4 107.1 106.9 107.7 142.4 39

 40 Intercompany debt 12.8 25.4 47.7 61.2 87.1 90.7 64.4 2.5 3.6 65.4 40

 41 U.S. parents’ liabilities (line 8) 10.1 4.3 11.0 17.3 20.6 6.9 11.8 13.0 24.6 36.9 41

 42 U.S. affiliates’ liabilities (line 31) 2.7 21.1 36.7 44.0 66.5 83.8 52.6 -10.5 -21.0 28.5 42

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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64 Historical Annuals, 1995-2004, March 10, 2016

F.231 Total Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 374.6 481.7 373.9 710.0 834.5 996.3 557.2 560.2 857.7 1392.0 1

 2 Household sector 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 2

 3 Nonfinancial corporate business 122.2 154.6 -90.4 246.8 357.3 428.9 -46.1 -3.7 68.7 346.1 3

 4 Nonfinancial noncorporate business 13.6 29.4 56.0 92.1 73.7 85.9 55.2 18.7 23.4 68.8 4

 5 Federal government 59.8 -0.4 27.5 21.0 27.1 53.6 4.7 49.3 71.9 59.4 5

 6 State and local governments 39.3 60.6 36.3 60.7 82.0 35.0 55.8 97.3 118.9 127.3 6

 7 Monetary authority 1.4 -0.0 2.1 0.6 -0.9 1.0 -2.3 1.1 0.2 4.2 7

 8 U.S.-chartered depository institutions 50.2 64.2 103.8 20.1 49.9 151.0 10.3 241.7 99.8 340.9 8

 9 Foreign banking offices in U.S. 12.2 11.7 26.8 8.8 9.5 56.3 -33.6 38.6 8.0 30.9 9

 10 Banks in U.S.-affiliated areas 3.1 0.4 4.6 6.9 2.4 0.2 5.3 -1.0 3.4 11.8 10

 11 Credit unions -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 11

 12 Property-casualty insurance companies 20.8 6.6 4.8 4.3 2.5 -0.8 26.1 44.1 46.6 47.9 12

 13 Life insurance companies 1.8 18.9 44.8 42.7 36.6 -23.7 33.8 46.6 141.2 63.7 13

 14 Government-sponsored enterprises 6.0 0.6 8.9 21.0 -5.5 -0.1 50.3 39.3 -41.6 -6.7 14

 15 Finance companies 19.8 2.1 -1.8 -13.9 65.2 122.9 47.7 67.7 108.4 40.3 15

 16 REITs 1.4 2.5 8.8 13.6 4.6 1.8 0.1 2.8 1.5 8.3 16

 17 Brokers and dealers 11.1 27.0 21.3 43.1 3.9 -7.0 139.8 -79.4 35.9 67.8 17

 18 Holding companies 26.4 18.0 39.2 63.8 -12.9 49.5 73.7 42.1 62.8 162.0 18

 19 Funding corporations -18.8 78.9 79.8 78.5 129.9 73.3 140.2 -48.9 60.4 39.6 19

 20 Rest of the world 5.6 5.9 0.8 0.8 6.2 -31.0 -1.7 1.0 45.6 -23.6 20

 21 Net change in assets 573.1 664.2 692.4 906.3 978.5 1330.9 734.7 553.6 768.2 1614.8 21

 22 Household sector 17.6 10.6 12.7 9.2 11.4 6.1 19.0 31.8 56.4 52.5 22

 23 Nonfinancial corporate business 227.8 226.5 55.0 292.1 458.6 678.8 127.2 69.4 -126.9 281.0 23

 24 Nonfinancial noncorporate business 37.4 36.3 56.6 124.9 82.5 89.9 130.5 41.0 51.1 236.0 24

 25 State and local governments 54.5 1.6 72.1 -0.5 -12.9 -21.6 -15.1 -26.2 -4.7 6.6 25

 26 Federal government -2.1 -6.7 -3.5 7.1 5.1 4.6 2.0 3.1 1.8 3.4 26

 27 Monetary authority -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 27

 28 U.S.-chartered depository institutions -42.6 34.3 44.6 -31.1 41.8 45.5 36.1 131.0 87.5 239.5 28

 29 Foreign banking offices in U.S. -9.3 -9.2 1.2 6.2 2.3 -3.7 -1.4 4.2 -6.7 1.2 29

 30 Banks in U.S.-affiliated areas 1.6 0.8 1.8 3.1 -1.0 -2.1 5.9 -6.0 -2.2 0.9 30

 31 Credit unions -0.8 -0.2 3.8 6.8 -15.0 10.2 8.6 5.9 -8.0 -0.3 31

 32 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Life insurance companies 13.3 6.7 24.0 20.1 -8.3 28.0 16.2 -11.6 23.3 20.9 33

 34 Private pension funds 79.2 113.0 112.5 100.2 105.6 74.0 45.8 73.1 108.0 91.0 34

 35 Federal government retirement funds 55.3 2.9 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 35

 36 State and local govt. retirement funds 39.7 61.3 52.2 78.2 101.9 29.9 52.8 86.8 139.2 164.0 36

 37 Money market mutual funds 11.6 4.4 14.3 3.4 23.3 8.8 -10.1 -2.3 -17.1 7.3 37

 38 Mutual funds 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 38

 39 Government-sponsored enterprises -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 39

 40 ABS issuers 0.0 0.0 0.0 0.7 2.5 6.3 15.2 21.4 21.2 19.7 40

 41 Finance companies 2.9 -2.7 5.5 -34.7 5.6 35.2 16.4 12.8 37.7 -17.2 41

 42 REITs 1.0 -1.7 4.9 10.7 -1.3 1.9 0.6 2.6 4.3 11.1 42

 43 Brokers and dealers 10.2 68.3 82.1 112.5 24.0 127.6 139.1 -116.2 145.0 115.0 43

 44 Holding companies 55.0 45.3 60.1 121.2 53.8 116.7 128.7 120.8 164.6 288.6 44

 45 Funding corporations 24.5 65.2 49.4 47.2 68.4 46.7 2.1 38.7 18.2 41.5 45

 46 Discrepancy -198.4 -182.5 -318.5 -196.3 -143.9 -334.6 -177.5 6.6 89.5 -222.8 46
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Historical Annuals, 1995-2004, March 10, 2016 65

F.232 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 1

 2 Asset: Federal government 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 3

 4 Asset: U.S.-chartered depository institutions 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 4

 Equity in govt.-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 2.0 1.5 1.8 4.1 6.1 2.2 3.3 2.0 3.2 2.5 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 6

 7 Nonfinancial noncorporate (FCS) -0.1 0.1 -0.0 0.0 -0.0 0.0 0.5 0.1 0.6 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 U.S.-chartered depository institutions (FHLB) 2.0 1.3 1.7 3.9 5.7 2.0 2.6 1.4 1.6 1.6 9

 10 Credit unions (FHLB) 0.1 0.0 0.0 0.1 0.2 0.1 0.2 0.3 0.2 0.2 10

 11 Property-casualty insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Life insurance companies (FHLB) -0.0 0.1 0.0 0.0 0.1 0.0 -0.1 0.2 0.7 0.6 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 Real estate investment trusts (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 Holding company net transactions with subsidiaries:

 15 Liab.: U.S.-chartered depository institutions 38.9 33.7 31.3 61.2 24.4 94.8 60.3 66.5 19.8 219.1 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 -1.4 4.0 3.8 2.5 17

 18 Finance companies 3.4 2.9 3.6 0.9 47.9 25.3 35.7 16.2 20.8 52.3 18

 19 Brokers and dealers 6.5 -10.3 3.5 38.2 -31.0 2.6 -15.8 -22.5 19.7 2.1 19

 20 Rest of the world 3.8 4.1 -0.8 -0.6 4.1 -32.5 -3.3 -0.6 44.1 -25.6 20

 21 Asset: Holding companies 52.7 30.4 37.7 99.6 45.5 90.1 75.6 63.5 108.3 250.4 21

 NFC investment in finance company subsidiaries:

 22 Liab.: Finance companies 5.9 0.6 4.9 -10.0 10.6 65.2 -17.8 6.9 2.6 2.6 22

 23 Asset: Nonfinancial corporate business 5.9 0.6 4.9 -10.0 10.6 65.2 -17.8 6.9 2.6 2.6 23

 Funding corporations’ investment in subsidiaries:

 24 Liab.: Foreign banking offices in U.S. 6.7 13.7 14.3 11.8 2.5 45.6 -21.9 18.6 7.4 33.0 24

 25 Brokers and dealers 17.8 51.5 35.0 35.5 65.9 1.1 24.0 20.2 10.7 8.4 25

 26 Asset: Funding corporations 24.5 65.2 49.4 47.2 68.4 46.7 2.1 38.7 18.2 41.5 26

 Equity investment under Public-Private Inv. Program:

 27 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Asset: Households (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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66 Historical Annuals, 1995-2004, March 10, 2016

F.233 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.0 0.0 1

 2 Asset: Federal government 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.0 0.0 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 3.3 -1.2 0.0 6.8 -7.8 0.0 8.6 1.9 -7.1 -2.1 6

 7 Asset: U.S.-chartered depository institutions 3.3 -1.2 0.0 6.8 -7.8 0.0 8.6 1.9 -7.1 -2.1 7

 Funding agreements backing securities (2):

 8 Liab.: Life insurance companies 0.0 0.0 0.0 0.7 2.5 6.3 15.2 21.4 21.2 19.7 8

 9 Asset: ABS issuers 0.0 0.0 0.0 0.7 2.5 6.3 15.2 21.4 21.2 19.7 9

 Deferred and unpaid life insurance premiums:

 10 Liab.: Household sector 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 10

 11 Asset: Life insurance companies 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 11

 Life insurance company reserves:

 12 Liab.: Life insurance companies 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 12

 13 Accident and health 5.2 6.2 6.3 7.3 10.2 3.9 3.1 10.1 10.9 9.8 13

 14 Policy dividend accumulation 0.8 0.8 2.0 0.7 1.2 1.1 1.0 0.1 -0.0 1.2 14

 15 Contract claims 2.0 0.8 2.4 2.4 -0.0 1.9 2.4 0.0 3.0 0.5 15

 16 Asset: Household sector 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 16

 Policy payables:

 17 Liab.: Property-casualty insurance companies 20.8 6.6 4.8 4.3 2.5 -0.8 26.1 44.1 46.6 47.9 17

 18 Asset: Household sector 9.6 2.8 2.0 -1.0 0.1 -0.7 12.5 21.6 22.9 23.6 18

 19 Nonfinancial corporate business 8.5 2.8 2.1 2.3 1.4 0.0 10.8 18.1 19.0 19.7 19

 20 Nonfinancial noncorporate business 2.8 1.0 0.7 3.0 1.1 -0.1 2.8 4.5 4.7 4.6 20

 Unallocated insurance company contracts:

 21 Liab.: Life insurance companies -12.1 4.8 14.6 18.0 7.4 -27.4 -18.0 -20.9 73.8 18.4 21

 22 Asset: Private pension funds -12.1 4.8 -1.9 -8.8 -11.1 -22.1 -12.5 -11.4 54.4 6.0 22

 23 State and local government retirement funds 0.0 0.0 16.5 26.8 18.5 -5.3 -5.5 -9.5 19.4 12.3 23

 Pension fund contributions payable:

 24 Liab.: Nonfinancial corporate business 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 24

 25 Asset: Private pension funds 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 25

 Securities borrowed (net):

 26 Liab.: Funding corporations -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 26

 27 Asset: Brokers and dealers -5.5 59.9 57.2 70.0 16.3 88.7 70.1 -2.9 102.6 86.9 27

 Retiree health care funds (3):

 28 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19.6 17.4 28

 29 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19.6 17.4 29

 Claims of pension fund on sponsor:

 30 Liab.: Nonfinancial corporate business 79.7 83.0 95.8 96.5 115.3 117.9 126.9 80.8 56.6 84.3 30

 31 Federal government 55.3 2.9 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 31

 32 State and local governments 39.3 60.6 36.3 60.7 82.0 35.0 55.8 97.3 118.9 127.3 32

 33 Asset: Private pension funds 79.7 83.0 95.8 96.5 115.3 117.9 126.9 80.8 56.6 84.3 33

 34 Federal government retirement funds 55.3 2.9 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 34

 35 State and local govt. retirement funds 39.3 60.6 36.3 60.7 82.0 35.0 55.8 97.3 118.9 127.3 35

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

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables F.132 and F.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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Historical Annuals, 1995-2004, March 10, 2016 67

F.234 Unidentified Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Net change in liabilities 92.6 151.2 22.4 260.2 458.1 530.7 213.3 162.3 221.9 639.3 1

 2 Nonfinancial corporate business 37.1 66.1 -194.6 137.5 260.4 330.1 -148.4 -86.0 12.3 264.8 2

 3 Nonfinancial noncorporate business 13.6 29.4 56.0 92.1 73.7 85.9 55.2 18.7 23.4 68.8 3

 4 Federal government 4.5 -3.3 0.3 -7.1 -2.9 2.0 -7.8 -0.4 -2.6 1.0 4

 5 Monetary authority 1.1 -0.7 1.3 0.1 -1.4 0.4 -2.7 0.1 -0.3 1.2 5

 6 U.S.-chartered depository institutions 11.3 30.5 72.5 -41.0 25.5 56.2 -50.0 175.1 80.0 121.8 6

 7 Foreign banking offices in U.S. 5.5 -2.0 12.5 -3.0 7.0 10.6 -11.7 20.0 0.6 -2.2 7

 8 Banks in U.S.-affiliated areas 3.1 0.4 4.6 6.9 2.4 0.2 5.3 -1.0 3.4 11.8 8

 9 Credit unions -1.9 0.0 0.1 0.5 0.9 -0.4 -1.8 1.9 1.7 1.9 9

 10 Life insurance companies 5.9 6.4 19.5 13.6 15.3 -9.6 31.4 32.0 28.4 11.8 10

 11 Government-sponsored enterprises 0.8 0.3 7.1 10.1 -3.7 -2.4 38.5 35.4 -37.7 -7.1 11

 12 Finance companies 10.5 -1.4 -10.3 -4.8 6.7 32.5 29.8 44.7 85.0 -14.7 12

 13 REITs 1.4 2.5 8.8 13.6 4.6 1.8 0.1 2.8 1.5 8.3 13

 14 Brokers and dealers -13.3 -14.1 -17.2 -30.6 -31.1 -10.6 131.7 -77.0 5.5 57.2 14

 15 Holding companies 26.4 18.0 39.2 63.8 -12.9 49.5 73.7 42.1 62.8 162.0 15

 16 Funding corporations -13.3 19.0 22.6 8.5 113.6 -15.4 70.1 -46.1 -42.1 -47.3 16

 17 Net change in assets 291.0 333.8 340.9 456.5 602.0 865.3 390.9 155.7 132.4 862.1 17

 18 Nonfinancial corporate business 213.4 223.1 47.9 299.8 446.6 613.6 134.1 44.4 -148.7 258.6 18

 19 Nonfinancial noncorporate business 34.7 35.2 55.9 121.9 81.4 90.0 127.3 36.5 45.8 231.4 19

 20 Federal government -3.8 -8.4 -5.0 5.7 3.0 3.1 0.4 1.5 0.4 1.4 20

 21 State and local governments 54.5 1.6 72.1 -0.5 -12.9 -21.6 -15.1 -26.2 -4.7 6.6 21

 22 Monetary authority -3.2 2.4 1.3 4.9 -1.3 1.1 -0.4 1.4 1.3 1.5 22

 23 U.S.-chartered depository institutions -48.1 33.5 42.1 -42.4 43.4 42.9 24.6 126.7 92.5 237.0 23

 24 Foreign banking offices in U.S. -9.3 -9.2 1.2 6.2 2.3 -3.7 -1.4 4.2 -6.7 1.2 24

 25 Banks in U.S.-affiliated areas 1.6 0.8 1.8 3.1 -1.0 -2.1 5.9 -6.0 -2.2 0.9 25

 26 Credit unions -0.9 -0.2 3.7 6.7 -15.2 10.1 8.4 5.6 -8.2 -0.6 26

 27 Life insurance companies 12.6 5.8 23.7 21.4 -10.6 27.8 16.7 -12.7 21.7 18.8 27

 28 Private pension funds 6.2 19.8 10.2 -0.4 19.8 -2.8 -44.0 2.2 -2.8 3.7 28

 29 State and local govt. retirement funds 0.4 0.7 -0.7 -9.3 1.4 0.2 2.5 -0.9 0.9 24.4 29

 30 Money market mutual funds 11.6 4.4 14.3 3.4 23.3 8.8 -10.1 -2.3 -17.1 7.3 30

 31 Mutual funds 0.5 -1.7 7.1 -4.2 -3.5 -0.6 -2.6 0.0 1.0 5.1 31

 32 Government-sponsored enterprises -0.9 6.9 7.6 -0.1 5.0 -4.0 5.5 22.0 18.5 4.5 32

 33 Finance companies 2.9 -2.7 5.5 -34.7 5.6 35.2 16.4 12.8 37.7 -17.2 33

 34 REITs 1.0 -1.7 4.9 10.7 -1.3 1.9 0.6 2.6 4.3 11.1 34

 35 Brokers and dealers 15.7 8.4 24.9 42.6 7.7 38.9 69.0 -113.3 42.5 28.1 35

 36 Holding companies 2.3 14.8 22.4 21.6 8.3 26.6 53.1 57.3 56.3 38.2 36

 37 Discrepancy -198.4 -182.5 -318.5 -196.3 -143.9 -334.6 -177.5 6.6 89.5 -222.8 37
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68 Historical Annuals, 1995-2004, March 10, 2016

F.7 Sector Discrepancies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 All sectors -280.2 -215.9 -199.2 -145.3 -142.3 44.7 -102.5 359.6 243.7 -51.8 1

 2 Household sector -88.4 -111.3 -44.9 -92.4 -11.0 264.7 104.2 246.2 52.6 -183.4 2

 3 Nonfinancial corporate business -62.3 -51.7 -34.8 -69.6 -120.4 -205.6 -160.6 10.9 38.4 -58.0 3

 4 Federal government 9.5 9.1 3.7 16.1 -18.8 5.0 11.5 20.2 63.7 5.4 4

 5 State and local governments -72.2 -32.0 -49.9 -45.2 -20.6 -69.5 -63.0 -18.9 7.8 -43.1 5

 6 Domestic financial sectors -121.8 -25.5 -51.4 -72.6 -89.0 -32.1 -2.8 56.9 -109.5 55.2 6

 7 Monetary authority -2.4 0.3 1.1 -3.0 -1.0 4.6 0.9 -2.2 -2.7 -1.4 7

 8 U.S.-chartered depository institutions -19.5 -15.6 -6.7 17.3 -61.9 81.1 69.1 52.1 -65.0 48.5 8

 9 Foreign banking officed in U.S. -38.3 20.3 6.3 -21.2 48.1 10.9 -7.3 22.5 17.3 38.0 9

 10 Banks in U.S.-affiliated areas -0.3 -0.1 -0.5 0.2 0.3 -1.2 0.5 -1.0 -1.0 0.6 10

 11 Credit unions 0.8 1.5 1.3 -0.9 0.7 -6.4 -1.5 5.6 7.2 0.8 11

 12 Property-casualty insurance companies -18.2 -6.7 -39.3 -18.8 14.4 -16.7 4.5 -29.5 -9.2 -16.8 12

 13 Life insurance companies -38.4 -40.2 -42.9 -25.0 -21.8 -14.9 -13.5 -19.1 -36.1 -33.1 13

 14 Mutual funds 8.7 4.9 6.2 -33.3 -41.8 -51.7 -34.3 -20.5 -17.8 -26.0 14

 15 Government-sponsored enterprises -2.4 0.1 -3.4 -0.9 2.3 16.9 13.8 20.4 -27.1 -8.4 15

 16 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Finance companies -2.8 3.6 -14.0 -11.6 -12.1 18.4 -10.1 17.3 33.8 21.8 17

 18 REITs 8.1 18.9 54.4 62.9 10.1 -11.7 1.8 19.9 12.5 30.6 18

 19 Brokers and dealers -15.4 -8.5 -9.0 -30.7 -24.4 -60.1 -23.7 3.3 -19.3 2.6 19

 20 Holding companies -1.8 -3.9 -4.8 -7.6 -1.9 -1.3 -3.0 -12.0 -2.1 -2.0 20

 21 Rest of the world 55.0 -4.6 -21.9 118.2 117.5 82.2 8.2 44.4 190.6 172.1 21

F.8 Instrument Discrepancies

Billions of dollars

 1 All types -280.2 -215.9 -199.2 -145.3 -142.3 44.7 -102.5 359.6 243.7 -51.8 1

 2 Treasury currency -0.3 -0.4 -0.1 -0.2 -0.7 -1.2 -0.1 -0.6 -0.3 -0.3 2

 3 Foreign deposits 25.0 59.4 106.2 -5.7 34.0 83.2 -15.8 21.5 60.3 128.9 3

 4 Net interbank transactions -5.3 2.6 -21.9 -2.6 -10.6 18.4 -5.1 -1.2 -6.5 21.3 4

 5 Security repurchase agreements -12.8 -23.5 54.1 -0.4 -72.0 128.5 5.5 99.6 106.2 11.5 5

 6 Mail floats -9.8 -3.6 -6.6 -0.5 -8.2 8.7 -40.5 -2.3 -8.9 18.2 6

 7 Federal government -6.0 0.5 -2.7 2.6 -7.4 9.0 -40.0 -1.6 -8.9 27.9 7

 8 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Private domestic -3.8 -4.0 -3.9 -3.1 -0.8 -0.3 -0.5 -0.7 -0.0 -9.7 9

 10 Trade credit -0.8 -22.6 -24.9 -14.2 15.8 5.4 1.2 156.2 30.8 2.9 10

 11 Taxes payable 15.6 14.0 27.8 17.5 9.1 40.3 18.6 10.7 -37.1 -15.7 11

 12 Miscellaneous -198.4 -182.5 -318.5 -196.3 -143.9 -334.6 -177.5 6.6 89.5 -222.8 12

 13 Nonfinancial -93.3 -59.4 -15.3 57.1 34.2 95.9 111.2 69.0 9.7 4.2 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) 90.6 56.6 12.3 -60.2 -37.5 -99.5 -115.0 -72.8 -13.6 -8.6 14

 15 Contr. for govt. soc. insur., U.S. affiliated areas 2.7 2.8 3.0 3.1 3.3 3.6 3.7 3.8 3.9 4.4 15
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Historical Annuals, 1995-2004, March 10, 2016 69

L.100 Domestic Nonfinancial Sectors (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 29898.4 32167.6 35842.1 40416.4 46171.6 47422.7 47421.9 46364.9 51238.7 57627.0 1

 2 U.S. official reserve assets 53.8 44.9 42.0 51.0 44.5 41.1 43.2 51.0 55.0 54.3 2

 3 Foreign deposits 40.8 63.7 60.3 68.2 72.1 72.3 64.2 70.5 91.0 115.5 3

 4 Checkable deposits and currency 973.8 944.3 922.0 914.7 998.2 874.6 942.9 903.3 960.8 977.0 4

 5 Time and savings deposits 2579.2 2766.2 2954.4 3122.6 3336.3 3715.1 4030.4 4384.1 4852.7 5352.6 5

 6 Money market fund shares 560.1 626.8 728.7 908.4 1058.1 1254.5 1531.2 1508.1 1370.9 1340.9 6

 7 Security repurchase agreements 118.1 151.7 155.9 159.8 158.9 147.0 135.9 121.7 123.1 130.8 7

 8 Debt securities 2963.0 3070.8 2969.6 3109.0 3318.5 3292.2 3163.3 3286.3 3491.8 4515.9 8

 9 Open market paper 131.2 167.0 187.3 206.4 236.8 274.6 285.3 298.3 303.6 332.3 9

 10 Treasury securities 1207.1 1221.0 1095.4 1074.4 1170.6 946.4 822.4 698.8 857.8 963.0 10

 11 Agency- and GSE-backed securities 391.2 477.3 513.7 606.2 751.2 843.1 689.6 587.1 728.5 833.2 11

 12 Municipal securities 577.5 531.2 532.1 530.2 558.2 569.7 624.7 711.1 729.9 1564.7 12

 13 Corporate and foreign bonds 655.9 674.2 641.1 691.9 601.8 658.5 741.4 991.0 872.1 822.6 13

 14 Loans 734.7 767.3 836.3 905.8 981.3 1108.2 1156.6 1111.1 1184.8 1349.1 14

 15 Other loans and advances 275.9 323.1 359.2 429.4 480.3 589.9 624.2 563.5 641.3 755.2 15

 16 Mortgages 364.5 348.7 365.0 360.6 376.9 377.1 386.9 392.3 402.1 448.7 16

 17 Consumer credit 94.2 95.4 112.0 115.9 124.1 141.2 145.5 155.3 141.4 145.3 17

 18 Corporate equities 4460.6 4714.6 6122.1 7488.1 9563.9 7915.1 6792.4 5151.9 6756.3 7460.5 18

 19 Mutual fund shares 1333.7 1665.5 1981.2 2385.0 2924.4 2734.3 2636.3 2237.4 2934.9 3450.2 19

 20 Trade receivables 1425.6 1549.8 1676.0 1800.1 2058.0 2419.4 2313.2 2233.0 2207.3 2381.8 20

 21 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 21

 22 Pension entitlements 6717.2 7240.7 8045.3 8872.4 9689.0 9980.7 10130.5 10246.5 11295.6 12426.5 22

 23 Taxes payable 55.0 130.3 132.7 131.3 139.5 153.1 156.8 165.0 168.8 179.2 23

 24 Equity in noncorporate business 3517.1 3636.1 4018.3 4258.0 4492.0 4974.0 5171.8 5501.4 6086.1 7304.5 24

 25 U.S. direct investment abroad 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 25

 26 Miscellaneous assets 3021.0 3317.9 3599.2 4482.7 5302.3 6570.4 6783.6 6860.8 6901.3 7433.1 26

 27 Total liabilities 19252.0 20239.9 21001.3 22568.0 24288.5 26425.5 27948.8 30026.8 31596.6 35164.2 27

 28 U.S. official reserve assets 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 28

 29 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 29

 30 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 30

 31 Debt securities 7062.7 7343.0 7603.0 7907.7 8176.2 8124.1 8494.8 8960.6 9555.1 10881.7 31

 32 Open market paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 32

 33 Treasury securities 4114.9 4316.5 4380.0 4366.6 4336.7 4062.7 4118.5 4400.1 4823.2 5226.6 33

 34 Agency- and GSE-backed securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 34

 35 Municipal securities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 35

 36 Corporate and foreign bonds 1494.1 1581.9 1709.4 1916.9 2123.8 2275.0 2568.4 2650.7 2724.2 2711.9 36

 37 Loans 7320.1 7792.2 8369.1 9111.8 10001.1 10937.6 11652.8 12539.5 13640.1 15176.2 37

 38 Depository institution loans n.e.c. 882.9 932.8 1044.0 1142.5 1217.1 1318.4 1241.3 1137.5 1096.9 1113.8 38

 39 Other loans and advances 768.0 811.5 908.4 995.6 1098.5 1192.7 1153.4 1140.6 1180.2 1314.6 39

 40 Mortgages 4501.0 4774.0 5072.6 5532.4 6131.9 6685.3 7366.3 8264.4 9260.0 10527.7 40

 41 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 41

 42 Trade payables 1386.9 1495.8 1613.2 1723.1 1968.9 2357.6 2277.5 2371.1 2395.5 2578.7 42

 43 Life insurance reserves 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 43

 44 Taxes payable 73.7 85.5 99.2 108.1 124.0 142.6 149.7 163.1 150.9 166.0 44

 45 Foreign direct investment in U.S. 654.1 708.8 760.3 821.1 916.0 1183.2 1269.5 1256.5 1305.3 1412.8 45

 46 Miscellaneous liabilities 2688.8 2748.4 2489.1 2826.6 3033.4 3612.2 4033.8 4662.3 4473.8 4870.7 46

(1) Sum of domestic nonfinancial sectors shown on tables L.101 through L.107.
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70 Historical Annuals, 1995-2004, March 10, 2016

L.101 Households and Nonprofit Organizations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 22777.6 24334.5 27403.5 30561.0 34635.5 33958.6 33523.8 32262.6 36799.9 41830.5 1

 2 Deposits 3427.7 3568.1 3735.4 3940.1 4126.9 4462.5 4984.4 5240.4 5481.1 5843.2 2

 3 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.8 61.8 3

 4 Checkable deposits and currency 586.5 544.8 503.9 528.7 508.9 405.4 480.1 464.1 458.0 399.8 4

 5 Time and savings deposits 2345.4 2486.9 2623.0 2706.3 2807.9 3071.5 3354.6 3657.9 4015.7 4483.2 5

 6 Money market fund shares 472.4 500.9 571.3 667.4 769.5 937.3 1101.0 1068.4 954.5 898.5 6

 7 Debt securities 2274.9 2414.3 2352.2 2381.5 2489.5 2369.6 2141.6 2151.9 2322.8 3226.6 7

 8 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 8

 9 Treasury securities 836.6 888.4 797.0 732.0 809.5 578.2 434.2 269.9 417.5 473.6 9

 10 Agency- and GSE-backed securities 216.3 332.6 390.3 441.5 540.5 587.9 385.0 241.5 376.7 443.8 10

 11 Municipal securities 533.4 493.0 497.6 498.4 526.9 531.5 587.9 671.5 687.2 1522.9 11

 12 Corporate and foreign bonds 616.9 624.5 590.1 629.5 527.8 574.7 646.3 886.8 764.1 702.6 12

 13 Loans 259.1 296.1 319.0 387.2 452.3 566.6 614.0 561.8 646.4 773.8 13

 14 Other loans and advances (2) 145.5 190.0 220.0 292.5 350.3 462.6 504.8 444.6 524.2 641.1 14

 15 Mortgages 113.6 106.1 99.0 94.7 102.0 104.0 109.2 117.2 122.2 132.6 15

 16 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Corporate equities (3) 4434.2 4667.7 6043.7 7389.5 9465.6 7821.9 6704.4 5072.6 6662.9 7352.8 17

 18 Mutual fund shares 1253.0 1561.9 1873.1 2253.2 2763.7 2585.4 2499.2 2122.2 2790.6 3288.9 18

 19 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 19

 20 Pension entitlements (4) 6717.2 7240.7 8045.3 8872.4 9689.0 9980.7 10130.5 10246.5 11295.6 12426.5 20

 21 Claims of pension fund on sponsor 1000.7 854.8 577.0 472.7 261.8 678.4 1269.9 2002.9 1508.6 1721.2 21

 22 Funded pension entitlements 5716.4 6385.9 7468.4 8399.7 9427.2 9302.2 8860.6 8243.5 9787.1 10705.3 22

 23 Equity in noncorporate business 3517.1 3636.1 4018.3 4258.0 4492.0 4974.0 5171.8 5501.4 6086.1 7304.5 23

 24 Miscellaneous assets 328.3 338.9 351.5 360.8 372.6 378.7 397.8 444.9 501.3 553.8 24

 25 Total liabilities 5041.7 5404.2 5757.0 6198.2 6753.5 7348.9 7974.0 8757.9 9832.7 11004.1 25

 26 Debt securities (municipal securities) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 26

 27 Loans 4826.8 5174.3 5510.8 5932.9 6471.4 7057.2 7670.7 8422.0 9477.3 10610.8 27

 28 Home mortgages (5) 3319.2 3537.3 3753.2 4054.7 4431.6 4813.9 5322.0 6028.0 6909.9 7859.5 28

 29 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 29

 30 Depository institution loans n.e.c. (6) 50.8 40.7 50.5 42.9 19.3 14.9 -1.2 -25.2 3.2 -16.8 30

 31 Other loans and advances 187.0 216.7 254.1 275.3 345.7 354.3 316.4 268.4 301.2 383.0 31

 32 Commercial mortgages 101.6 105.7 108.8 118.7 121.2 132.8 141.7 153.8 160.1 165.0 32

 33 Trade payables 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 33

 34 Deferred and unpaid life insurance premiums 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 34

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

 outstandings of nonprofit organizations.

(2) Includes cash accounts at brokers and dealers and syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(3) Directly held shares, including shares of closed-end and exchange-traded funds shares. Other equities are included in mutual fund shares (line 18), life insurance reserves (line 19) and pension entitlements (line 20).

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

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

(6) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.109, line 19.
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Historical Annuals, 1995-2004, March 10, 2016 71

L.102 Nonfinancial Business (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 5567.9 6159.7 6636.7 7865.6 9319.4 11233.5 11516.5 11649.8 11905.4 13096.7 1

 2 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 2

 3 Checkable deposits and currency 326.5 328.0 339.0 329.2 363.9 407.3 354.3 344.7 394.8 504.7 3

 4 Time and savings deposits 171.1 204.7 250.1 319.0 416.4 519.9 535.8 560.5 676.6 701.1 4

 5 Money market fund shares 77.0 113.9 141.7 194.3 237.5 263.3 373.0 381.0 352.9 366.1 5

 6 Security repurchase agreements 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 6

 7 Debt securities 163.3 169.3 133.8 140.2 144.3 165.8 170.2 191.4 203.6 226.7 7

 8 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 8

 9 Treasury securities 80.7 75.6 59.1 61.6 56.6 58.3 59.7 74.2 78.6 84.2 9

 10 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 10

 11 Municipal securities 39.0 33.6 30.6 28.6 27.7 34.4 32.8 35.5 38.1 36.2 11

 12 Loans 164.7 152.5 183.4 172.9 141.4 148.5 146.5 150.5 137.1 156.6 12

 13 Mortgages 79.7 74.7 99.0 93.6 65.3 67.0 73.4 75.7 78.0 97.4 13

 14 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 14

 15 Mutual fund shares 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 15

 16 Trade receivables 1325.3 1442.9 1566.0 1681.6 1930.1 2281.4 2161.8 2082.4 2039.5 2195.0 16

 17 U.S. direct investment abroad 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 17

 18 Miscellaneous assets 2495.8 2787.3 2987.3 3855.0 4670.4 5949.3 6156.5 6209.8 6196.8 6666.2 18

 19 Total liabilities 7542.7 8048.4 8494.1 9630.0 10892.2 12428.4 12847.3 13162.2 13176.7 14019.0 19

 20 Debt securities 1786.2 1876.1 2020.0 2257.7 2507.0 2707.6 2903.8 2931.1 2970.6 2995.1 20

 21 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 21

 22 Municipal securities 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 22

 23 Corporate bonds 1494.1 1581.9 1709.4 1916.9 2123.8 2275.0 2568.4 2650.7 2724.2 2711.9 23

 24 Loans 2483.6 2613.0 2848.3 3168.8 3521.2 3871.6 3973.2 4107.8 4153.1 4555.3 24

 25 Depository institution loans n.e.c. 832.1 892.1 993.4 1099.6 1197.8 1303.4 1242.5 1162.7 1093.7 1130.6 25

 26 Other loans and advances 571.3 589.9 644.3 710.1 744.3 829.6 828.1 862.6 869.3 921.6 26

 27 Mortgages 1080.2 1130.9 1210.6 1359.1 1579.1 1738.6 1902.6 2082.5 2190.1 2503.1 27

 28 Trade payables 975.3 1056.9 1154.0 1242.0 1455.0 1809.2 1700.8 1745.9 1665.1 1786.4 28

 29 Taxes payable 73.7 85.5 99.2 108.1 124.0 142.6 149.7 163.1 150.9 166.0 29

 30 Foreign direct investment in U.S. 654.1 708.8 760.3 821.1 916.0 1183.2 1269.5 1256.5 1305.3 1412.8 30

 31 Miscellaneous liabilities 1569.8 1708.0 1612.4 2032.3 2368.9 2714.3 2850.3 2957.7 2931.8 3103.3 31

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
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72 Historical Annuals, 1995-2004, March 10, 2016

L.103 Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 4975.4 5472.5 5818.4 6824.8 8093.5 9760.8 9887.0 9941.6 10116.7 10937.3 1

 2 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 2

 3 Checkable deposits and currency 206.7 189.0 177.7 161.8 191.3 226.4 172.5 160.2 204.2 207.2 3

 4 Time and savings deposits 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 4

 5 Money market fund shares 60.0 94.6 118.8 161.7 196.8 213.9 314.1 319.7 289.3 299.6 5

 6 Security repurchase agreements 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 6

 7 Debt securities 137.4 138.1 98.3 99.4 104.4 123.2 123.9 145.2 156.0 172.2 7

 8 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 8

 9 Treasury securities 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 33.7 34.0 9

 10 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 10

 11 Municipal securities 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 11

 12 Loans 143.0 132.1 164.7 146.6 117.3 125.0 119.7 124.4 110.8 125.8 12

 13 Mortgages 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 13

 14 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 14

 15 Mutual fund shares 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 15

 16 Trade receivables 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.5 1701.8 1830.6 16

 17 U.S. direct investment abroad (1) 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 17

 18 Miscellaneous assets 2299.5 2554.7 2698.1 3440.8 4173.8 5362.8 5439.5 5451.8 5387.8 5621.1 18

 19 Insurance receivables 186.5 189.3 191.4 193.7 195.0 195.1 205.9 224.0 243.0 262.7 19

 20 Equity in GSEs 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 20

 21 Investment in finance company subs. 22.5 23.0 28.0 18.0 28.6 29.4 11.6 18.5 21.0 23.6 21

 22 Other 2090.4 2342.2 2478.6 3229.0 3950.0 5138.1 5221.7 5208.9 5123.3 5334.3 22

 23 Total liabilities 6023.1 6393.6 6645.4 7476.2 8427.3 9632.4 9833.2 9950.0 9894.6 10381.6 23

 24 Debt securities 1786.2 1876.1 2020.0 2257.7 2507.0 2707.6 2903.8 2931.1 2970.6 2995.1 24

 25 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 25

 26 Municipal securities (2) 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 26

 27 Corporate bonds (1) 1494.1 1581.9 1709.4 1916.9 2123.8 2275.0 2568.4 2650.7 2724.2 2711.9 27

 28 Loans 1309.0 1367.9 1501.3 1642.8 1801.4 1959.3 1897.4 1880.2 1851.6 1999.1 28

 29 Depository institution loans n.e.c. 631.5 662.3 716.9 797.5 846.1 901.3 796.8 693.4 614.1 618.0 29

 30 Other loans and advances (3) 467.2 484.8 534.9 595.0 623.1 700.9 703.0 734.9 742.2 793.3 30

 31 Mortgages 210.2 220.8 249.5 250.3 332.2 357.1 397.6 451.9 495.3 587.8 31

 32 Trade payables 878.6 928.3 993.6 1051.2 1229.8 1542.4 1438.8 1458.6 1403.9 1501.5 32

 33 Taxes payable 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 33

 34 Foreign direct investment in U.S. 651.3 704.8 756.4 817.8 912.5 1180.0 1266.2 1252.5 1302.0 1409.8 34

 35 Miscellaneous liabilities 1357.7 1466.5 1314.9 1642.7 1905.7 2165.1 2245.9 2334.6 2285.3 2388.1 35

 36 Pension fund contributions payable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 36

 37 Claims of pension fund on sponsor -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 37

 38 Other 1368.2 1537.4 1491.9 1830.0 2190.2 2285.6 2085.8 1945.0 2207.3 2307.2 38

 Memo:

 39 Market value of equities 6406.8 6758.1 8609.7 10887.4 14224.7 12173.8 10782.6 8159.3 10796.0 12033.8 39

 40 Total liquid assets (4) 569.3 646.1 661.5 747.9 894.0 982.1 1020.1 1034.1 1171.3 1265.0 40

 41 Total short-term liabilities (5) 2175.0 2281.7 2473.1 2700.7 3000.3 3501.0 3197.4 3099.7 2923.8 3098.6 41

 42 Liquid assets/short-term liabilities (percent) 26.17 28.32 26.75 27.69 29.80 28.05 31.90 33.36 40.06 40.83 42

 43 Short-term debt/total debt (percent) (6) 40.58 40.18 40.34 40.65 39.45 40.30 34.94 32.18 29.84 30.22 43

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

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

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

(4) Sum of lines 2 through 7 and line 15.

(5) Sum of lines 25, 29, 30, 32, and 33. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(6) Short-term debt is the sum of lines 25, 29, and 30. Total debt is the sum of lines 24 and 28.
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Historical Annuals, 1995-2004, March 10, 2016 73

L.104 Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 592.5 687.2 818.2 1040.9 1225.9 1472.7 1629.5 1708.2 1788.7 2159.5 1

 2 Checkable deposits and currency 119.8 139.0 161.3 167.4 172.6 181.0 181.8 184.5 190.6 297.5 2

 3 Time and savings deposits 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 300.6 3

 4 Money market fund shares 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 66.5 4

 5 Debt securities 25.8 31.2 35.4 40.8 39.9 42.6 46.3 46.2 47.6 54.5 5

 6 Treasury securities 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 6

 7 Municipal securities 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 7

 8 Loans 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 8

 9 Mortgages 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 9

 10 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Trade receivables 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 11

 12 Miscellaneous assets 196.3 232.6 289.2 414.1 496.6 586.5 717.0 758.0 809.1 1045.1 12

 13 Insurance receivables 71.5 72.5 73.2 76.2 77.3 77.2 80.0 84.5 89.2 93.8 13

 14 Equity investment in GSEs (1) 2.9 3.0 3.0 3.0 3.0 3.1 3.5 3.6 4.2 4.2 14

 15 Other 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 715.7 947.1 15

 16 Total liabilities 1519.6 1654.8 1848.7 2153.8 2464.9 2796.1 3014.1 3212.2 3282.1 3637.4 16

 17 Loans 1174.6 1245.1 1347.0 1526.0 1719.8 1912.3 2075.7 2227.6 2301.5 2556.2 17

 18 Depository institution loans n.e.c. 200.6 229.8 276.6 302.1 351.7 402.1 445.6 469.3 479.7 512.6 18

 19 Other loans and advances 104.1 105.1 109.4 115.1 121.2 128.7 125.1 127.7 127.1 128.3 19

 20 Mortgages 869.9 910.1 961.1 1108.8 1246.9 1381.5 1505.0 1630.6 1694.7 1915.3 20

 21 Trade payables 96.7 128.5 160.4 190.8 225.2 266.7 262.0 287.4 261.2 284.9 21

 22 Taxes payable 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 22

 23 Foreign direct investment in U.S. 2.8 4.0 3.9 3.4 3.6 3.3 3.3 4.0 3.3 3.0 23

 24 Miscellaneous liabilities 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 24

(1) Equity in the Farm Credit System.
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74 Historical Annuals, 1995-2004, March 10, 2016

L.105 General Government (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1553.0 1673.5 1801.9 1989.7 2216.7 2230.6 2381.7 2452.5 2533.4 2699.8 1

 2 U.S. official reserve assets 53.8 44.9 42.0 51.0 44.5 41.1 43.2 51.0 55.0 54.3 2

 3 Checkable deposits and currency 60.9 71.4 79.1 56.8 125.4 61.9 108.5 94.4 108.0 72.5 3

 4 Time and savings deposits 62.7 74.6 81.3 97.3 112.0 123.7 139.9 165.7 160.4 168.3 4

 5 Money market fund shares 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 63.5 76.4 5

 6 Security repurchase agreements 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 117.2 124.4 6

 7 Debt securities 524.8 487.2 483.7 587.3 684.7 756.7 851.5 943.0 965.4 1062.5 7

 8 Open market paper 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 150.6 153.6 8

 9 Treasury securities 289.8 257.0 239.3 280.8 304.5 310.0 328.4 354.7 361.7 405.2 9

 10 Agency- and GSE-backed securities 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 340.6 378.0 10

 11 Municipal securities 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.5 5.7 11

 12 Corporate and foreign bonds 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 108.0 120.1 12

 13 Loans 310.8 318.7 333.8 345.6 387.5 393.1 396.1 398.8 401.3 418.7 13

 14 Mortgages 171.3 167.9 167.0 172.3 209.5 206.2 204.2 199.4 201.9 218.6 14

 15 Consumer credit 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 15

 16 Other loans and advances 130.4 133.1 139.2 136.9 130.0 127.3 119.4 118.9 117.1 114.0 16

 17 Corporate equities 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 93.4 107.7 17

 18 Mutual fund shares 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 29.4 35.8 18

 19 Trade receivables 100.4 106.9 110.0 118.5 127.8 138.0 151.3 150.6 167.8 186.8 19

 20 Taxes receivable 55.0 130.3 132.7 131.3 139.5 153.1 156.8 165.0 168.8 179.2 20

 21 Miscellaneous assets 196.9 191.7 260.4 267.0 259.3 242.3 229.2 206.1 203.2 213.1 21

 22 Total liabilities 6667.6 6787.4 6750.1 6739.8 6642.9 6648.1 7127.5 8106.7 8587.2 10141.1 22

 23 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 23

 24 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 24

 25 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 25

 26 Debt securities 5180.1 5364.4 5473.4 5528.7 5537.5 5279.1 5439.6 5865.6 6406.8 7689.1 26

 27 Treasury securities 4143.1 4343.1 4406.5 4395.1 4365.0 4090.0 4145.2 4427.3 4848.0 5250.9 27

 28 Municipal securities 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 28

 29 Loans 9.7 4.9 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 29

 30 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Other loans and advances 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 31

 32 Trade payables 310.5 329.8 341.2 354.4 383.0 413.7 443.9 473.2 573.7 619.0 32

 33 Insurance reserves 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 33

 34 Miscellaneous liabilities 1101.6 1022.1 858.1 777.1 645.0 878.3 1164.4 1684.6 1521.1 1744.9 34

 Memo:

 35 Total financial assets (consolidated) (2) 1253.5 1411.7 1552.6 1698.8 1903.7 1911.8 2044.3 2088.2 2162.0 2284.6 35

 36 Total liabilities (consolidated) (2) 6368.1 6525.5 6500.8 6449.0 6329.8 6329.2 6790.1 7742.4 8215.9 9725.9 36

(1) Sum of the federal government and state and local governments sectors.

(2) Excludes Treasury securities held by state and local governments (line 9) and federal government loans to state and local governments (line 31).
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Historical Annuals, 1995-2004, March 10, 2016 75

L.106 Federal Government

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 431.7 511.5 515.9 515.8 616.2 569.9 632.6 652.8 659.7 640.6 1

 2 U.S. official reserve assets 53.8 44.9 42.0 51.0 44.5 41.1 43.2 51.0 55.0 54.3 2

 3 Checkable deposits and currency 22.2 38.3 41.6 23.2 87.9 24.3 66.9 47.7 54.3 22.2 3

 4 Time and savings deposits 0.9 2.4 3.4 4.7 5.4 6.3 10.5 27.6 2.4 2.4 4

 5 Debt 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 Loans 197.0 201.1 212.5 218.3 255.7 262.6 266.4 274.5 272.0 274.3 8

 9 Other loans and advances 130.4 133.1 139.2 136.9 130.0 127.3 119.4 118.9 117.1 114.0 9

 10 Mortgages 57.5 50.3 45.7 44.9 77.7 75.7 74.5 75.1 72.6 74.2 10

 11 Consumer credit (1) 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 11

 12 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Trade receivables 23.1 24.0 20.8 22.3 22.9 28.1 35.5 32.2 51.3 61.8 13

 14 Taxes receivable 17.3 90.2 88.4 82.0 80.3 83.3 84.0 90.7 93.7 91.2 14

 15 Miscellaneous assets 117.4 110.7 107.3 114.4 119.5 124.2 126.2 129.3 131.1 134.5 15

 16 Total liabilities 5362.8 5567.7 5650.6 5662.1 5666.8 5448.2 5522.7 5873.3 6442.4 6921.1 16

 17 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 17

 18 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 18

 19 Treasury currency 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 19

 20 Debt securities 4143.1 4343.1 4406.5 4395.1 4365.0 4090.0 4145.2 4427.3 4848.0 5250.9 20

 21 Treasury securities (3) 4114.9 4316.5 4380.0 4366.6 4336.7 4062.7 4118.5 4400.1 4823.2 5226.6 21

 22 Marketable 3247.8 3387.1 3388.0 3292.0 3221.1 2944.8 2940.8 3181.7 3553.8 3919.9 22

 23 Nonmarketable 867.0 929.4 991.9 1074.5 1115.6 1117.9 1177.7 1218.3 1269.3 1306.7 23

 24 Budget agency securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 24

 25 Loans (multifamily residential mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Trade payables 80.9 82.0 73.8 66.2 72.0 77.7 80.9 81.9 153.6 169.0 26

 27 Insurance reserves 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 27

 28 Miscellaneous liabilities 1073.1 1076.4 1103.0 1131.3 1161.0 1212.4 1225.9 1290.4 1364.8 1423.2 28

 29 Claims of pension fund on sponsor 1066.5 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 29

 30 Other 6.7 7.3 6.6 6.7 6.6 6.4 6.2 21.4 40.8 58.0 30

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

 the government purchased from depository institutions and finance companies.

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

(3) Includes marketable and nonmarketable Treasury securities held by the public and Treasury securities held by federal government employee retirement funds.
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76 Historical Annuals, 1995-2004, March 10, 2016

L.107 State and Local Governments (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1121.3 1162.0 1286.0 1473.9 1600.5 1660.8 1749.1 1799.6 1873.7 2059.2 1

 2 Checkable deposits and currency 38.7 33.1 37.5 33.6 37.5 37.7 41.7 46.7 53.7 50.3 2

 3 Time and savings deposits 61.7 72.2 77.9 92.6 106.7 117.4 129.3 138.1 158.0 165.9 3

 4 Money market fund shares 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 63.5 76.4 4

 5 Security repurchase agreements 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 117.2 124.4 5

 6 Debt securities 524.8 487.2 483.7 587.3 684.7 756.7 851.5 943.0 965.4 1062.5 6

 7 Open market paper 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 150.6 153.6 7

 8 Treasury securities 289.8 257.0 239.3 280.8 304.5 310.0 328.4 354.7 361.7 405.2 8

 9 Agency- and GSE-backed securities 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 340.6 378.0 9

 10 Municipal securities 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.5 5.7 10

 11 Corporate and foreign bonds 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 108.0 120.1 11

 12 Loans (mortgages) 113.8 117.6 121.3 127.4 131.8 130.5 129.7 124.4 129.3 144.4 12

 13 Corporate equities 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 93.4 107.7 13

 14 Mutual fund shares 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 29.4 35.8 14

 15 Trade receivables 77.3 82.9 89.2 96.3 104.9 109.9 115.9 118.4 116.6 125.0 15

 16 Taxes receivable 37.7 40.1 44.3 49.3 59.2 69.8 72.8 74.4 75.1 88.0 16

 17 Miscellaneous assets 79.4 81.0 153.1 152.6 139.8 118.2 103.1 76.9 72.1 78.7 17

 18 Total liabilities 1304.8 1219.6 1099.5 1077.8 976.1 1199.9 1604.8 2233.4 2144.9 3220.0 18

 19 Debt securities (municipal securities) 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 19

 20 Short-term (2) 34.4 40.7 49.0 42.7 45.3 46.6 70.5 95.7 106.1 44.2 20

 21 Long-term 1002.6 980.7 1018.0 1090.9 1127.2 1142.4 1223.9 1342.6 1452.7 2393.9 21

 22 Loans (U.S. government loans) 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 22

 23 Trade payables 229.6 247.8 267.4 288.2 311.0 336.0 363.0 391.3 420.1 450.1 23

 24 Claims of pension fund on sponsor (3) 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 321.7 24

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

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

(3) Included in miscellaneous liabilities.
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Historical Annuals, 1995-2004, March 10, 2016 77

L.108 Domestic Financial Sectors (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 23065.9 25363.2 28636.2 32121.6 36185.5 38474.4 40861.5 42397.1 46920.6 51844.5 1

 2 U.S. official reserve assets 32.1 30.2 28.0 30.7 27.1 26.6 25.5 27.9 30.8 32.3 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 3

 4 Treasury currency 24.0 25.0 25.5 26.3 28.0 31.6 33.0 34.6 35.5 36.4 4

 5 Foreign deposits 19.7 23.1 23.2 30.1 41.1 80.4 111.1 104.3 67.3 68.1 5

 6 Net interbank assets 70.4 74.1 78.6 70.0 90.6 64.4 64.8 70.8 70.8 66.5 6

 7 Checkable deposits and currency 47.2 57.8 71.8 78.5 89.4 93.5 158.9 172.6 216.3 243.8 7

 8 Time and savings deposits 184.2 223.6 273.4 315.6 320.2 315.0 379.1 352.5 304.7 325.2 8

 9 Money market fund shares 176.1 254.0 307.3 408.3 508.7 546.5 694.2 692.6 614.7 504.2 9

 10 Federal funds and security repos 1154.0 1221.7 1388.1 1398.3 1526.3 1630.8 1808.4 1974.3 1996.9 2297.3 10

 11 Debt securities 7268.3 7658.3 8353.2 9272.4 10207.1 10728.0 11766.3 12636.2 13613.7 14128.6 11

 12 Open market paper 525.7 578.1 714.4 854.8 1060.6 1225.1 1080.3 948.1 856.3 929.1 12

 13 Treasury securities 2090.8 2055.1 2131.3 2126.0 2107.8 2094.8 2200.9 2415.8 2451.9 2450.0 13

 14 Agency- and GSE-backed securities 1891.7 2024.1 2178.3 2531.2 2932.5 3155.7 3795.4 4311.7 4579.7 4389.6 14

 15 Municipal securities 686.7 725.5 780.6 865.8 891.2 903.1 970.7 1040.3 1151.0 1230.5 15

 16 Corporate and foreign bonds 2073.4 2275.5 2548.6 2894.8 3215.1 3349.3 3719.1 3920.4 4574.8 5129.3 16

 17 Loans 6982.2 7534.3 8132.5 9023.1 10040.3 11021.0 11745.9 12628.4 13800.2 15411.9 17

 18 Depository institution loans n.e.c. 1034.4 1119.2 1259.3 1392.6 1481.7 1594.8 1509.0 1410.4 1396.5 1449.3 18

 19 Other loans and advances 713.4 779.4 886.7 1061.6 1295.3 1434.3 1425.5 1407.3 1478.5 1677.4 19

 20 Mortgages 4160.5 4457.2 4754.3 5243.5 5833.8 6391.7 7065.2 7969.0 8963.8 10210.3 20

 21 Consumer credit 1073.9 1178.5 1232.1 1325.4 1429.5 1600.1 1746.3 1841.7 1961.5 2074.8 21

 22 Corporate equities 3536.2 4404.7 5591.8 6678.8 8148.7 7901.7 7311.4 6006.3 8133.5 9467.1 22

 23 Mutual fund shares 459.2 594.6 899.2 1093.0 1444.6 1549.8 1382.3 1310.1 1594.9 1835.1 23

 24 Trade receivables 108.2 117.3 140.9 146.5 130.7 147.9 159.0 158.3 171.7 182.2 24

 25 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 U.S. direct investment abroad 106.8 123.3 134.9 155.0 163.6 180.0 203.4 255.1 309.4 403.8 26

 27 Miscellaneous assets 2887.1 3011.6 3178.5 3385.8 3412.8 4154.9 5016.0 5970.7 5958.0 6839.8 27

 28 Total liabilities 22370.1 24669.5 27892.6 31230.2 35269.2 37572.5 39932.1 41313.9 45494.8 50157.5 28

 29 Net interbank liabilities 146.2 121.2 114.2 108.6 125.3 76.0 44.1 59.0 63.7 52.2 29

 30 Checkable deposits and currency 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.8 1353.0 1437.4 1522.8 30

 31 Time and savings deposits 2964.7 3190.8 3442.2 3659.2 3873.9 4256.5 4610.3 4956.9 5325.2 5880.7 31

 32 Money market fund shares 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 32

 33 Federal funds and security repos 1271.4 1352.4 1597.2 1591.9 1655.0 1883.3 2076.1 2342.4 2538.3 2900.2 33

 34 Debt securities 4023.1 4488.6 4978.9 5859.0 6779.7 7527.4 8465.8 9340.3 10200.2 11058.4 34

 35 Open market paper 486.9 579.1 745.7 906.7 1082.9 1214.7 1097.8 997.9 934.4 956.0 35

 36 Agency- and GSE-backed securities 2377.7 2609.2 2822.8 3294.4 3887.7 4319.7 4962.3 5509.0 5944.5 6060.3 36

 37 Corporate and foreign bonds 1158.5 1300.4 1410.3 1657.9 1809.0 1993.0 2405.7 2833.5 3321.4 4042.1 37

 38 Loans 376.3 481.5 574.6 791.4 983.2 1144.5 1220.0 1189.5 1336.0 1584.8 38

 39 Depository institution loans n.e.c. 71.9 96.8 109.4 138.8 158.9 161.9 168.3 180.2 207.4 242.4 39

 40 Other loans and advances 280.4 352.9 418.3 581.0 745.5 899.0 965.9 912.3 1022.8 1211.0 40

 41 Mortgages 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 41

 42 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 42

 43 Trade payables 10.3 14.3 19.9 18.9 30.9 35.9 39.2 37.4 28.2 36.0 43

 44 Life insurance reserves 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 44

 45 Pension entitlements 6717.2 7240.7 8045.3 8872.4 9689.0 9980.7 10130.5 10246.5 11295.6 12426.5 45

 46 Taxes payable 21.2 25.3 17.9 22.2 26.5 36.8 41.5 37.5 47.9 53.2 46

 47 Foreign direct investment in U.S. 26.0 36.8 63.8 98.9 185.7 237.8 249.0 243.5 275.7 329.9 47

 48 Miscellaneous liabilities 2472.1 2708.3 3164.7 3365.5 3725.4 4146.8 4476.8 4771.4 5316.6 5993.0 48

 Memo:

 49 Market value of corporate equities 1284.0 1939.4 2733.7 2912.5 2918.2 3273.1 3149.5 2854.0 3712.0 4286.1 49

 50 Equity in noncorporate business 5.4 6.5 9.5 9.6 11.5 11.7 6.2 5.0 13.0 11.2 50

(1) Sum of financial sectors shown on tables L.109 through L.131.
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78 Historical Annuals, 1995-2004, March 10, 2016

L.109 Monetary Authority (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 471.9 495.2 534.0 566.8 696.9 635.9 683.0 753.6 796.8 841.3 1

 2 U.S. official reserve assets 32.1 30.2 28.0 30.7 27.1 26.6 25.5 27.9 30.8 32.3 2

 3 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 3

 4 Treasury currency 24.0 25.0 25.5 26.3 28.0 31.6 33.0 34.6 35.5 36.4 4

 5 Federal Reserve float (2) 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 5

 6 Interbank loans (2) 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 6

 7 Discount window (3) 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 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 repurchase agreements 13.9 21.6 23.8 30.4 140.6 43.4 50.3 39.5 43.8 33.0 9

 10 Debt securities 380.8 393.1 431.4 452.5 478.1 511.8 551.7 629.4 666.7 717.8 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 378.2 390.9 430.7 452.1 478.0 511.7 551.7 629.4 666.7 717.8 12

 13 Treasury bills 183.1 190.6 197.1 194.8 176.5 178.7 182.1 226.7 244.8 263.0 13

 14 Other Treasury securities 195.1 200.3 233.6 257.4 301.4 333.0 369.6 402.7 421.8 454.8 14

 15 Agency- and GSE-backed securities 2.6 2.2 0.7 0.3 0.2 0.1 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 2.6 2.2 0.7 0.3 0.2 0.1 0.0 0.0 0.0 0.0 17

 18 Loans (depository institution loans n.e.c.) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Brokers and dealers (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Funding corporations (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Corporate equities (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous assets 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 24

 25 Nonofficial foreign currencies (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 26

 27 Total liabilities 467.9 490.7 528.8 560.9 690.4 629.1 675.6 745.3 788.0 829.6 27

 28 Depository institution reserves 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 28

 29 Vault cash of depository institutions 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 29

 30 Checkable deposits and currency 391.2 414.4 444.3 483.3 591.5 556.4 603.8 645.7 683.0 720.8 30

 31 Due to federal government 6.2 8.0 5.7 6.2 28.5 5.6 7.1 4.8 6.0 6.2 31

 32 Treasury cash holdings 0.3 0.2 0.2 0.1 0.1 0.5 0.4 0.4 0.3 0.3 32

 33 Treasury general deposit account 6.0 7.7 5.4 6.1 28.4 5.1 6.6 4.4 5.7 5.9 33

 34 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 34

 35 Due to rest of the world 0.4 0.2 0.5 0.2 0.1 0.2 0.1 0.1 0.2 0.1 35

 36 Due to government-sponsored enterprises 0.8 0.8 0.8 1.5 1.1 1.2 0.7 1.1 0.6 1.1 36

 37 Currency outside banks 383.7 405.5 437.3 475.4 561.8 549.3 596.0 639.7 676.2 713.3 37

 38 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 25.7 30.8 38

 39 Reverse repurchase agreement operations (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 25.7 30.8 40

 41 Miscellaneous liabilities 6.6 6.6 8.7 9.2 8.3 9.3 7.0 8.1 8.3 12.5 41

 42 Federal Reserve Bank stock 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 42

 43 Other 2.6 2.0 3.2 3.3 1.9 2.3 -0.3 -0.2 -0.6 0.6 43

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table L.203, line 23.

(3) Federal Reserve loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

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

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

(7) Includes loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, AIG, Maiden Lane III LLC, and the Commercial Paper Funding Facility LLC.

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

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

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

(10) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).
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Historical Annuals, 1995-2004, March 10, 2016 79

L.110 Private Depository Institutions (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 5401.8 5638.0 6080.0 6511.0 6928.3 7504.4 7882.6 8531.0 9159.6 10123.8 1

 2 Vault cash 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 2

 3 Reserves at Federal Reserve 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 3

 4 Federal funds and security repos 250.0 223.6 257.7 326.9 269.0 351.9 377.2 400.9 436.4 462.1 4

 5 Debt securities 1273.3 1268.1 1357.9 1458.0 1569.2 1603.9 1759.4 1966.8 2140.4 2222.7 5

 6 Open market paper 6.4 7.1 2.9 1.5 3.2 2.7 2.4 1.5 0.7 0.8 6

 7 Treasury securities 312.0 292.6 296.3 236.5 239.9 200.7 180.3 221.3 150.3 123.0 7

 8 Agency- and GSE-backed securities 673.1 697.5 772.0 858.6 902.6 918.4 1013.2 1162.4 1281.7 1311.1 8

 9 Municipal securities 95.4 96.3 98.8 107.3 113.8 117.3 125.0 127.5 139.3 148.2 9

 10 Corporate and foreign bonds 186.5 174.7 188.0 254.1 309.7 364.9 438.6 454.1 568.4 639.6 10

 11 Loans 3469.0 3705.7 3954.6 4198.0 4497.9 4905.5 5026.2 5273.3 5653.3 6315.9 11

 12 Depository institution loans n.e.c. 1034.4 1119.2 1259.3 1392.6 1481.7 1594.8 1509.0 1410.4 1396.5 1449.3 12

 13 Other loans and advances 22.3 23.4 20.6 11.3 8.2 7.5 4.6 4.6 4.4 4.0 13

 14 Mortgages 1737.9 1846.8 1960.1 2074.3 2270.6 2503.0 2683.5 2991.3 3299.3 3851.6 14

 15 Consumer credit 674.4 716.3 714.6 719.8 737.4 800.3 829.1 867.0 953.1 1011.0 15

 16 Corporate equities 19.3 24.5 25.9 35.7 42.0 43.3 40.3 30.6 49.0 57.5 16

 17 Mutual fund shares 5.2 5.2 10.6 12.8 14.9 17.2 25.1 23.1 21.2 21.3 17

 18 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 U.S. direct investment abroad 37.9 42.8 44.2 31.2 36.0 44.5 50.6 51.0 57.5 93.5 19

 20 Miscellaneous assets 277.0 298.3 353.3 380.1 408.7 474.6 539.1 715.0 730.8 885.3 20

 21 Total liabilities 5445.9 5731.6 6218.6 6575.9 6995.1 7639.0 8053.5 8686.9 9282.6 10372.3 21

 22 Net interbank liabilities 76.1 51.5 38.4 40.2 34.7 12.6 -20.8 -11.3 -7.3 -13.4 22

 23 Checkable deposits 820.2 785.9 764.9 737.0 740.8 662.4 757.0 707.3 754.4 802.0 23

 24 Small time and savings deposits 2297.5 2421.1 2550.6 2739.9 2823.7 3054.7 3369.3 3694.7 4002.1 4283.7 24

 25 Large time deposits 667.2 769.7 891.7 919.4 1050.2 1201.8 1241.0 1262.3 1323.1 1597.0 25

 26 Federal funds and security repos 432.7 439.8 510.0 585.1 595.3 670.7 683.8 774.4 786.7 825.8 26

 27 Debt securities 69.0 77.3 85.4 86.3 87.1 100.6 103.1 102.2 108.4 121.0 27

 28 Open market paper 22.6 23.6 20.9 11.5 8.6 7.9 4.8 4.6 4.4 4.1 28

 29 Corporate bonds 46.3 53.6 64.5 74.7 78.5 92.6 98.3 97.5 104.0 116.9 29

 30 Loans (other loans and advances) 134.5 161.3 196.7 286.2 392.6 435.8 460.6 465.3 493.7 564.8 30

 31 Taxes payable (net) -0.1 2.0 7.3 10.4 12.4 22.1 25.9 35.9 37.7 37.2 31

 32 Foreign direct investment in U.S. 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 32

 33 Miscellaneous liabilities 916.1 992.7 1134.9 1125.4 1196.3 1414.0 1366.3 1582.8 1698.7 2031.6 33

 34 Investment by holding companies 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 34

 35 Investment by funding corporations 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 35

 36 Other 514.8 544.0 640.5 558.1 602.2 679.4 601.3 732.7 821.3 902.0 36

 Memo:

 37 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

(1) U.S.-chartered depository institutions (L.111), foreign banking offices (L.112), banks in U.S.-affiliated areas (L.113), and credit unions (L.114).

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

 The leased automobile is a nonfinancial asset.
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80 Historical Annuals, 1995-2004, March 10, 2016

L.111 U.S.-Chartered Depository Institutions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 4527.4 4684.4 5029.7 5426.5 5861.2 6332.7 6663.4 7249.9 7832.3 8730.2 1

 2 Vault cash 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 2

 3 Reserves at Federal Reserve 28.8 23.4 27.9 25.3 22.6 18.1 16.3 20.7 21.3 22.5 3

 4 Federal funds and security repos 196.3 174.5 187.9 245.9 198.2 240.7 278.7 284.4 291.3 327.1 4

 5 Debt securities 1058.9 1016.8 1077.0 1168.3 1266.5 1292.4 1404.3 1565.1 1728.2 1788.1 5

 6 Open market paper 4.1 4.5 2.3 0.8 0.7 0.9 0.0 0.0 0.0 0.0 6

 7 Treasury securities 226.0 190.3 181.4 135.0 133.0 96.6 67.8 95.6 105.7 82.6 7

 8 Agency- and GSE-backed securities 586.0 592.8 652.4 722.6 755.4 766.9 861.7 997.5 1105.2 1132.5 8

 9 Residential mortgage pass-through securities 329.9 344.3 371.8 418.7 399.4 406.8 466.3 567.6 605.2 672.1 9

 10 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Residential CMOs and other structured MBS 101.0 89.5 107.0 115.9 120.9 111.0 168.2 159.1 185.8 180.1 11

 12 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Other 155.1 159.0 173.6 188.0 235.2 249.1 227.1 270.9 314.1 280.3 13

 14 Municipal securities 94.7 95.8 98.3 106.9 113.2 116.6 124.5 127.0 138.8 147.8 14

 15 Corporate and foreign bonds 148.0 133.3 142.6 203.0 264.2 311.4 350.3 345.0 378.5 425.1 15

 16 Priv. residential mortgage pass-through securities 29.2 25.2 18.1 17.1 22.8 23.1 38.5 22.6 22.9 27.1 16

 17 Priv. commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Priv. residential CMOs and other structured MBS 24.9 21.8 22.5 42.8 48.8 56.5 59.3 67.4 98.3 148.5 18

 19 Priv. commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Other 93.9 86.4 102.1 143.1 192.6 231.8 252.5 255.1 257.3 249.5 20

 21 Loans 2921.0 3102.2 3313.1 3557.7 3863.4 4219.1 4338.1 4592.5 4949.0 5558.3 21

 22 Depository institution loans n.e.c. 724.2 784.8 896.9 1036.0 1153.8 1247.4 1184.2 1117.8 1114.1 1154.7 22

 23 Other loans and advances 12.3 13.9 13.7 9.1 6.6 5.9 3.6 3.9 3.8 3.3 23

 24 Mortgages 1642.1 1731.2 1840.2 1948.3 2133.5 2350.0 2510.8 2799.5 3083.9 3604.7 24

 25 Consumer credit 542.4 572.2 562.2 564.4 569.5 615.8 639.5 671.3 747.3 795.6 25

 26 Corporate equities 19.3 24.5 25.9 35.7 42.0 43.3 40.3 30.6 49.0 57.5 26

 27 Mutual fund shares 2.3 2.6 8.1 9.1 12.4 15.0 21.3 19.6 17.1 18.1 27

 28 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 U.S. direct investment abroad 37.9 42.8 44.2 31.2 36.0 44.5 50.6 51.0 57.5 93.5 29

 30 Miscellaneous assets 222.5 252.4 300.6 311.3 353.5 415.0 466.4 638.3 671.0 823.6 30

 31 Total liabilities 4539.9 4731.2 5116.0 5461.1 5854.4 6397.4 6787.7 7333.6 7857.7 8826.6 31

 32 Net interbank liabilities 24.6 -6.4 6.2 41.1 92.6 141.2 146.3 158.3 197.3 268.0 32

 33 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 33

 34 Borrowing from Federal Reserve banks 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 34

 35 To domestic banks -43.4 -47.1 -61.5 -47.5 -49.9 -47.8 -43.5 -35.6 -40.0 -26.5 35

 36 To foreign banks 67.7 36.3 65.0 87.0 142.5 187.9 189.8 193.4 237.6 293.6 36

 37 Checkable deposits 774.2 738.6 712.2 676.9 677.7 594.0 681.7 628.0 666.4 705.7 37

 38 Federal government 19.0 28.7 27.8 13.2 49.6 16.4 47.5 31.1 30.2 26.9 38

 39 Private domestic 737.1 688.3 658.4 640.5 605.5 552.5 611.6 574.6 634.8 667.5 39

 40 Rest of the world 18.1 21.6 26.0 23.2 22.7 25.1 22.6 22.3 1.5 11.2 40

 41 Small time and savings deposits 2039.8 2150.8 2262.7 2431.7 2504.3 2721.2 2978.2 3272.7 3549.5 3814.8 41

 42 Large time deposits 359.0 413.1 489.8 539.7 614.4 731.1 726.4 786.4 825.8 1013.8 42

 43 Federal funds and security repos 376.1 366.6 414.9 469.6 497.7 514.2 538.4 582.2 575.7 612.5 43

 44 Debt securities 58.6 67.6 78.1 83.9 85.1 98.6 102.0 101.5 107.8 120.2 44

 45 Open market paper 12.3 14.0 13.7 9.1 6.6 6.0 3.7 3.9 3.8 3.4 45

 46 Corporate bonds 46.3 53.6 64.5 74.7 78.5 92.6 98.3 97.5 104.0 116.9 46

 47 Loans (other loans and advances) 134.1 160.9 196.1 285.1 389.2 432.4 455.7 458.4 484.6 553.4 47

 48 Taxes payable (net) -0.1 2.0 7.3 10.4 12.4 22.1 25.9 35.9 37.7 37.2 48

 49 Miscellaneous liabilities 773.5 838.0 948.6 922.8 981.0 1142.6 1133.1 1310.1 1412.9 1701.1 49

 50 Investment by holding companies 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 50

 51 Other 422.9 453.7 533.1 446.1 479.8 546.7 476.8 587.3 670.2 739.3 51

 Memo:

 52 Consumer leases not included above (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

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

 The leased automobile is a nonfinancial asset.
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Historical Annuals, 1995-2004, March 10, 2016 81

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

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 550.9 608.5 677.2 671.9 637.3 704.3 685.6 702.5 695.6 707.0 1

 2 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Reserves at Federal Reserve 0.8 1.1 2.9 1.0 1.4 0.5 0.6 1.2 0.9 0.7 3

 4 Federal funds and security repos 47.3 47.7 66.4 74.1 61.6 107.1 96.0 114.2 142.2 130.4 4

 5 Debt securities 139.4 173.7 202.5 202.6 212.5 220.0 241.5 264.2 250.7 267.8 5

 6 Open market paper 1.7 2.3 0.4 0.3 0.6 0.6 0.0 0.0 0.0 0.0 6

 7 Treasury securities 62.3 80.7 95.1 84.8 94.5 94.0 103.8 116.7 33.4 27.7 7

 8 Agency- and GSE-backed securities 37.3 49.7 62.2 67.4 72.4 72.7 50.7 61.6 53.3 51.8 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 38.0 41.0 44.9 50.1 45.0 52.7 86.9 86.0 164.0 188.2 10

 11 Loans 326.8 358.6 376.8 359.4 324.7 343.2 315.5 286.6 272.3 277.3 11

 12 Depository institution loans n.e.c. 281.6 317.0 343.8 336.8 307.1 324.5 296.7 267.0 254.2 259.7 12

 13 Other loans and advances 10.1 9.4 6.9 2.2 1.6 1.6 1.0 0.6 0.6 0.7 13

 14 Mortgages 35.1 32.2 26.1 20.4 15.9 17.1 17.9 19.0 17.5 16.9 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 Miscellaneous assets 36.6 27.4 28.5 34.8 37.1 33.5 32.0 36.3 29.6 30.8 16

 17 Total liabilities 609.6 685.6 762.1 738.6 749.5 824.5 787.7 831.6 849.4 919.2 17

 18 Net interbank liabilities 77.6 83.2 58.7 33.6 -12.6 -85.1 -105.0 -104.8 -134.4 -212.2 18

 19 To foreign banks 64.2 64.3 46.1 29.6 -19.2 -106.2 -135.3 -128.9 -161.7 -246.3 19

 20 To domestic banks 13.4 18.9 12.6 4.0 6.6 21.1 30.3 24.0 27.3 34.1 20

 21 Checkable deposits 8.7 8.0 8.8 8.6 9.1 8.7 9.1 8.4 9.5 8.7 21

 22 Small time and savings deposits 8.5 8.7 13.1 9.4 7.5 7.2 11.6 9.4 10.2 9.5 22

 23 Large time deposits 289.0 334.8 377.1 349.8 402.1 432.1 462.4 416.8 426.3 504.2 23

 24 Federal funds and security repos 56.6 73.1 93.8 115.2 96.3 156.1 143.7 191.6 207.9 210.4 24

 25 Debt securities (open market paper) (2) 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 25

 26 Foreign direct investment in U.S. 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 26

 27 Miscellaneous liabilities 126.2 137.9 164.7 173.5 183.0 239.3 197.6 236.2 244.2 275.1 27

 28 Investment by funding corporations 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 28

 29 Other 75.4 73.4 85.9 83.0 90.0 100.6 88.9 108.9 109.5 107.4 29

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.
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82 Historical Annuals, 1995-2004, March 10, 2016

L.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 37.4 38.9 44.4 53.6 57.0 61.6 77.5 72.7 81.2 96.0 1

 2 Debt securities 10.5 9.2 11.5 15.2 17.4 21.1 23.3 27.3 33.4 39.1 2

 3 Treasury securities 5.4 4.1 4.2 3.6 2.8 1.8 1.2 1.5 2.5 3.8 3

 4 Agency- and GSE-backed securities 4.0 4.3 6.3 10.2 13.5 17.8 20.3 24.2 28.9 33.6 4

 5 Municipal securities 0.7 0.5 0.5 0.5 0.6 0.7 0.5 0.5 0.6 0.3 5

 6 Corporate and foreign bonds 0.4 0.3 0.4 1.0 0.5 0.8 1.4 1.1 1.4 1.3 6

 7 Loans 22.9 24.9 26.3 28.6 30.9 33.9 41.7 39.0 43.5 51.7 7

 8 Depository institution loans n.e.c. 13.1 14.6 15.5 16.3 16.9 18.0 22.5 18.2 18.5 20.3 8

 9 Home mortgages 5.7 6.3 6.4 7.5 8.1 9.1 8.2 9.7 12.2 15.6 9

 10 Commercial mortgages 4.0 3.9 4.4 4.8 6.0 6.8 11.0 11.2 12.8 15.9 10

 11 Miscellaneous assets 4.0 4.8 6.6 9.7 8.7 6.6 12.5 6.4 4.3 5.2 11

 12 Total liabilities 37.2 38.6 43.7 53.1 56.9 60.4 76.8 71.1 78.6 94.0 12

 13 Net interbank liabilities -1.6 -1.4 -1.4 -2.0 -2.2 -1.7 -2.8 -2.5 -2.5 -3.5 13

 14 Checkable deposits 6.4 6.9 7.3 8.5 8.5 8.4 11.5 10.4 11.9 13.5 14

 15 Small time and savings deposits 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 15

 16 Large time deposits 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 16

 17 Miscellaneous liabilities 11.9 12.3 16.9 23.9 26.3 26.5 31.8 30.8 34.2 46.0 17

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

L.114 Credit Unions

Billions of dollars

 1 Total financial assets 286.2 306.2 328.7 359.0 372.9 405.9 456.1 505.9 550.4 590.6 1

 2 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.5 0.5 0.6 0.9 0.8 2

 3 Federal funds and security repos 6.4 1.4 3.5 6.8 9.3 4.0 2.5 2.3 2.9 4.5 3

 4 Debt securities 64.6 68.4 66.9 71.9 72.8 70.4 90.4 110.2 128.1 127.8 4

 5 Open market paper 0.6 0.3 0.2 0.4 1.9 1.2 2.4 1.5 0.7 0.8 5

 6 Treasury securities 18.3 17.4 15.6 13.1 9.6 8.2 7.4 7.5 8.8 8.9 6

 7 Agency- and GSE-backed securities 45.7 50.7 51.0 58.4 61.3 60.9 80.6 79.1 94.3 93.1 7

 8 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 24.3 25.0 9

 10 Loans 198.4 220.1 238.4 252.3 278.9 309.3 330.8 355.2 388.5 428.6 10

 11 Depository institution loans n.e.c. 15.5 2.9 3.1 3.5 3.9 4.9 5.6 7.5 9.7 14.6 11

 12 Home mortgages 51.0 73.1 83.0 93.3 107.1 119.9 135.7 152.0 172.9 198.6 12

 13 Consumer credit 131.9 144.1 152.4 155.4 167.9 184.4 189.6 195.7 205.9 215.4 13

 14 Mutual fund shares 2.8 2.6 2.4 3.6 2.5 2.2 3.7 3.5 4.1 3.1 14

 15 Miscellaneous assets 13.9 13.8 17.5 24.3 9.4 19.5 28.1 34.0 26.0 25.7 15

 16 Total liabilities 259.2 276.2 296.8 323.1 334.3 356.7 401.3 450.6 496.9 532.4 16

 17 Net interbank liabilities -24.5 -23.9 -25.1 -32.5 -43.0 -41.8 -59.2 -62.3 -67.7 -65.7 17

 18 Shares/deposits 278.8 295.1 315.4 349.0 366.7 389.1 450.2 499.7 545.0 574.5 18

 19 Checkable 30.9 32.5 36.6 43.0 45.4 51.3 54.7 60.5 66.5 74.1 19

 20 Small time and savings 238.9 251.2 264.4 287.5 299.8 312.7 361.3 396.4 424.9 440.4 20

 21 Large time 9.0 11.4 14.4 18.5 21.6 25.1 34.1 42.8 53.6 60.0 21

 22 Federal funds and security repos 0.0 0.0 1.3 0.3 1.3 0.4 1.6 0.6 3.1 2.9 22

 23 Loans (other loans and advances) 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 23

 24 Miscellaneous liabilities 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 24
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Historical Annuals, 1995-2004, March 10, 2016 83

L.115 Property-Casualty Insurance Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 740.3 770.0 843.5 876.4 869.9 858.1 854.7 934.7 1059.3 1159.1 1

 2 Checkable deposits and currency 4.9 3.9 4.2 4.0 4.3 3.7 13.1 25.9 34.6 25.9 2

 3 Money market fund shares 13.1 12.4 12.3 14.9 9.9 13.4 10.3 15.3 14.3 13.4 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.7 2.7 3.2 2.0 4

 5 Debt securities 490.3 511.8 536.0 546.9 534.6 532.7 534.7 582.7 658.4 744.0 5

 6 Open market paper 18.8 17.7 17.6 21.3 14.1 19.1 12.7 15.7 13.7 12.3 6

 7 Treasury securities 139.1 126.2 96.4 76.8 64.9 57.8 57.5 72.0 86.2 106.6 7

 8 Agency- and GSE-backed securities 48.2 51.0 70.8 69.7 75.5 84.1 94.2 113.2 115.4 112.1 8

 9 Municipal securities 161.0 175.4 191.6 208.1 199.0 184.1 173.8 183.0 224.2 267.8 9

 10 Corporate and foreign bonds 123.3 141.6 159.5 171.1 181.1 187.5 196.4 198.9 218.9 245.3 10

 11 Loans (commercial mortgages) 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 11

 12 Corporate equities 133.5 147.5 184.3 197.9 205.2 191.4 171.0 149.5 177.9 195.5 12

 13 Mutual fund shares 0.7 1.0 1.7 2.2 2.7 2.9 3.0 2.8 4.7 6.3 13

 14 Trade receivables 57.3 57.2 59.9 61.5 63.6 64.6 69.9 74.8 79.3 79.6 14

 15 U.S. direct investment abroad 37.8 33.6 42.8 47.0 47.8 47.9 49.3 79.0 84.6 89.9 15

 16 Miscellaneous assets (equity in FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Total liabilities 504.9 513.8 526.7 531.0 537.8 546.4 580.0 612.9 670.4 710.9 17

 18 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 2.1 1.2 18

 19 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Taxes payable (net) 3.3 3.9 4.4 3.3 3.4 3.4 3.7 -3.7 1.0 1.5 20

 21 Foreign direct investment in U.S. 36.8 38.5 46.2 47.3 51.5 60.9 66.4 63.3 68.2 61.4 21

 22 Miscellaneous liabilities 464.8 471.4 476.2 480.4 482.9 482.1 508.2 552.4 599.0 646.9 22

 23 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Policy payables 464.8 471.4 476.2 480.4 482.9 482.1 508.2 552.4 599.0 646.9 24
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84 Historical Annuals, 1995-2004, March 10, 2016

L.116 Life Insurance Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 2063.6 2246.3 2514.9 2769.5 3067.9 3135.7 3224.8 3335.0 3773.0 4130.3 1

 2 Checkable deposits and currency 5.2 4.3 8.1 5.4 5.5 5.0 36.8 35.3 47.3 53.3 2

 3 Money market fund shares 9.1 9.2 9.3 9.5 9.6 9.8 9.9 12.3 12.6 17.2 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 4.7 2.2 3.6 4

 5 Debt securities 1275.4 1345.3 1436.4 1504.5 1549.8 1598.6 1716.3 1935.9 2103.6 2252.9 5

 6 Open market paper 45.5 48.4 65.9 73.4 75.8 71.2 51.7 55.7 37.9 27.4 6

 7 Treasury securities 108.1 93.2 85.5 71.3 62.8 58.1 58.0 89.3 80.2 81.9 7

 8 Agency- and GSE-backed securities 242.9 244.1 226.7 217.0 224.4 235.4 253.5 330.9 348.9 357.1 8

 9 Municipal securities 11.9 13.4 16.7 18.4 20.1 19.1 18.7 19.9 26.1 30.1 9

 10 Corporate and foreign bonds 867.0 946.2 1041.7 1124.4 1166.9 1214.8 1334.3 1440.0 1610.5 1756.3 10

 11 Loans 312.1 311.7 314.7 323.5 336.2 345.3 355.2 364.4 375.2 391.1 11

 12 Other loans and advances 99.0 103.6 107.9 109.9 105.4 109.3 112.2 114.4 114.2 117.8 12

 13 Mortgages 213.1 208.2 206.8 213.6 230.8 235.9 243.0 250.0 260.9 273.3 13

 14 Corporate equities 309.6 406.9 539.8 683.2 909.0 892.0 811.3 708.9 919.3 1053.9 14

 15 Mutual fund shares 33.5 42.5 57.2 73.2 98.8 97.0 88.3 76.6 91.7 114.4 15

 16 U.S. direct investment abroad 5.6 6.6 8.6 11.1 9.4 10.4 8.6 12.2 14.4 16.6 16

 17 Miscellaneous assets 113.2 119.8 140.7 159.0 149.7 177.7 197.1 184.8 206.8 227.3 17

 18 Equity in FHLB 0.1 0.2 0.2 0.2 0.3 0.4 0.3 0.5 1.1 1.7 18

 19 Deferred and unpaid life ins. premiums 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 19

 20 Other 95.6 101.3 121.9 141.5 129.9 157.8 177.7 164.3 184.7 203.1 20

 21 Total liabilities 1953.9 2115.6 2359.7 2599.7 2882.8 2942.8 3031.6 3140.4 3539.4 3869.7 21

 22 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 13.9 14.7 13.5 22

 23 Loans (other loans and advances) 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 23

 24 Life insurance reserves 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 24

 25 Pension entitlements (2) 890.1 972.4 1007.1 1145.8 1288.2 1332.0 1349.2 1385.8 1523.6 1704.0 25

 26 Taxes payable (net) 12.0 12.5 -1.6 -0.1 0.5 0.1 -0.3 -7.7 -5.8 -2.7 26

 27 Foreign direct investment in U.S. 13.8 17.6 25.2 27.3 32.1 42.9 38.8 49.6 46.6 66.6 27

 28 Miscellaneous liabilities 501.2 531.4 694.6 739.5 809.8 782.7 797.3 812.2 979.5 1058.5 28

 29 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 15.6 19.6 23.4 25.9 29

 30 Funding agreements backing securities (3) 0.0 0.0 0.0 0.8 3.3 9.6 24.8 46.2 67.4 87.1 30

 31 Other reserves (4) 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 31

 32 Unallocated insurance contracts 322.2 341.0 459.0 478.7 513.0 462.8 418.1 372.7 474.9 507.7 32

 33 Other 57.5 61.1 95.6 109.8 131.6 141.4 163.3 188.1 214.3 226.9 33

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables L.116.g and L.116.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 32.

(3) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(4) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
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Historical Annuals, 1995-2004, March 10, 2016 85

L.116.g Life Insurance Companies: General Accounts

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 2063.6 2246.3 1787.8 1857.1 1940.9 2006.9 2165.7 2387.7 2603.7 2799.2 1

 2 Checkable deposits and currency 5.2 4.3 6.7 4.4 4.3 3.9 26.1 24.6 32.6 34.9 2

 3 Money market fund shares 9.1 9.2 9.3 9.5 9.6 9.8 9.9 12.3 12.6 17.2 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 4.7 2.2 3.6 4

 5 Debt securities 1275.4 1345.3 1309.2 1357.0 1399.6 1439.5 1550.0 1745.5 1914.5 2060.3 5

 6 Open market paper 45.5 48.4 48.4 50.4 52.3 48.2 31.6 34.5 20.8 14.7 6

 7 Treasury securities 108.1 93.2 61.5 49.9 45.7 40.4 44.0 70.0 62.7 59.5 7

 8 Agency- and GSE-backed securities 242.9 244.1 206.9 192.0 195.3 201.4 213.3 278.7 299.8 314.7 8

 9 Municipal securities 11.9 13.4 15.7 17.2 18.7 18.2 17.8 19.2 25.0 29.1 9

 10 Corporate and foreign bonds 867.0 946.2 976.6 1047.5 1087.5 1131.2 1243.4 1343.1 1506.2 1642.4 10

 11 Loans 312.1 311.7 307.4 316.2 329.8 338.2 347.6 356.4 367.3 382.2 11

 12 Other loans and advances 99.0 103.6 105.4 107.7 104.1 108.2 111.2 113.5 113.6 117.1 12

 13 Mortgages 213.1 208.2 202.0 208.5 225.7 230.0 236.4 242.9 253.7 265.1 13

 14 Corporate equities 309.6 406.9 72.6 81.3 89.7 87.9 78.9 76.2 88.2 97.6 14

 15 Mutual fund shares 33.5 42.5 3.0 3.4 3.7 3.6 3.3 3.2 3.9 4.4 15

 16 U.S. direct investment abroad 5.6 6.6 8.6 11.1 9.4 10.4 8.6 12.2 14.4 16.6 16

 17 Miscellaneous assets 113.2 119.8 71.0 74.2 94.7 113.7 140.1 152.6 168.0 182.2 17

 18 Total liabilities 1953.9 2115.6 1622.2 1676.6 1745.2 1805.1 1964.2 2184.7 2362.6 2530.9 18

 19 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 1.3 13.9 14.7 13.5 19

 20 Loans (other loans and advances) 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 20

 21 Life insurance reserves 536.3 580.1 569.9 599.9 633.2 662.2 706.1 747.5 784.2 806.8 21

 22 Pension entitlements (1) 890.1 972.4 542.1 539.5 519.1 541.0 627.1 745.5 778.6 852.3 22

 23 Taxes payable (net) 12.0 12.5 -1.6 -0.1 0.5 0.1 -0.3 -7.7 -5.8 -2.7 23

 24 Foreign direct investment in U.S. 13.8 17.6 25.2 27.3 32.1 42.9 38.8 49.6 46.6 66.6 24

 25 Miscellaneous liabilities 501.2 531.4 484.9 507.5 557.1 556.4 588.0 630.8 736.3 783.3 25

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 25).

L.116.s Life Insurance Companies: Separate Accounts

Billions of dollars

 1 Total financial assets 0.0 0.0 727.1 912.4 1127.0 1128.7 1059.0 947.3 1169.3 1331.1 1

 2 Checkable deposits and currency 0.0 0.0 1.5 1.0 1.1 1.1 10.7 10.6 14.7 18.3 2

 3 Debt securities 0.0 0.0 127.2 147.6 150.2 159.1 166.3 190.5 189.1 192.6 3

 4 Open market paper 0.0 0.0 17.5 23.0 23.5 23.0 20.1 21.3 17.1 12.7 4

 5 Treasury securities 0.0 0.0 23.9 21.4 17.0 17.7 14.0 19.4 17.5 22.4 5

 6 Agency- and GSE-backed securities 0.0 0.0 19.7 25.1 29.0 33.9 40.2 52.2 49.1 42.5 6

 7 Municipal securities 0.0 0.0 1.0 1.2 1.3 0.9 0.9 0.7 1.0 1.0 7

 8 Corporate and foreign bonds 0.0 0.0 65.2 76.9 79.4 83.6 91.0 97.0 104.3 113.9 8

 9 Loans 0.0 0.0 7.3 7.3 6.4 7.1 7.7 7.9 7.9 8.9 9

 10 Other loans and advances 0.0 0.0 2.5 2.1 1.3 1.2 1.0 0.9 0.6 0.6 10

 11 Mortgages 0.0 0.0 4.8 5.2 5.1 5.9 6.6 7.1 7.3 8.3 11

 12 Corporate equities 0.0 0.0 467.2 601.9 819.3 804.1 732.4 632.7 831.1 956.2 12

 13 Mutual fund shares 0.0 0.0 54.2 69.8 95.1 93.3 85.0 73.4 87.8 110.0 13

 14 Miscellaneous assets 0.0 0.0 69.7 84.7 55.0 64.0 57.0 32.1 38.8 45.1 14

 15 Total liabilities 0.0 0.0 737.5 923.1 1137.6 1137.7 1067.5 955.8 1176.8 1338.8 15

 16 Life insurance reserves 0.0 0.0 62.8 84.8 115.7 120.5 136.1 134.1 188.5 212.0 16

 17 Pension entitlements (1) 0.0 0.0 465.0 606.2 769.1 790.9 722.1 640.3 745.0 851.6 17

 18 Miscellaneous liabilities 0.0 0.0 209.7 232.0 252.7 226.3 209.3 181.4 243.2 275.3 18

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 18).
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86 Historical Annuals, 1995-2004, March 10, 2016

L.117 Private and Public Pension Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (2) 5759.1 6194.7 6960.5 7639.4 8302.2 8560.8 8691.0 8775.5 9684.4 10636.6 1

 2 Checkable deposits and currency 9.1 13.0 12.3 16.1 16.7 20.7 21.4 23.2 24.2 23.4 2

 3 Time and savings deposits 114.7 121.4 132.7 162.1 122.5 99.4 63.3 59.4 61.9 61.4 3

 4 Money market fund shares 43.8 56.7 72.2 74.8 88.7 94.4 90.5 100.0 97.7 104.6 4

 5 Security repurchase agreements 53.9 55.6 57.2 67.2 72.0 66.4 51.6 46.1 43.9 36.8 5

 6 Debt securities 1614.7 1702.1 1849.2 1945.9 2138.7 2075.5 2062.0 2044.5 2166.7 2239.4 6

 7 Open market paper 56.3 59.0 62.0 74.6 84.2 84.4 80.0 81.8 71.0 62.5 7

 8 Treasury securities (3) 848.9 915.0 965.6 989.8 1036.5 1029.6 1067.4 1104.9 1137.5 1179.5 8

 9 Agency- and GSE-backed securities 276.8 271.1 296.0 298.4 361.6 378.3 388.3 381.9 466.7 474.8 9

 10 Municipal securities 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 2.5 10

 11 Corporate and foreign bonds 430.9 456.4 524.1 579.9 653.3 581.5 524.5 475.1 487.1 520.0 11

 12 Loans (mortgages) 24.5 26.0 27.7 32.3 37.4 34.1 30.7 31.4 30.6 25.0 12

 13 Corporate equities 1971.8 2268.5 2714.9 3138.3 3473.9 3368.8 3255.7 2723.2 3636.4 4036.7 13

 14 Mutual fund shares 419.9 545.9 829.7 1004.8 1328.2 1432.6 1266.0 1207.6 1477.2 1693.1 14

 15 Miscellaneous assets 1506.7 1405.6 1264.7 1198.0 1024.1 1369.0 1849.7 2540.1 2145.7 2416.2 15

 16 Unallocated insurance contracts (4) 322.2 341.0 459.0 478.7 513.0 462.8 418.1 372.7 474.9 507.7 16

 17 Contributions receivable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 17

 18 Claims of pension fund on sponsor (5) 1000.7 854.8 577.0 472.7 261.8 678.4 1269.9 2002.9 1508.6 1721.2 18

 19 Other 100.1 120.6 131.2 136.1 157.3 154.7 113.2 114.5 112.6 140.7 19

 20 Pension entitlements (liabilities) (6) 5827.0 6268.2 7038.3 7726.6 8400.8 8648.7 8781.3 8860.7 9772.0 10722.6 20

 Memo:

 Funded status of defined benefit plans:

 21 Pension entitlements 4359.3 4589.2 4814.5 5141.2 5444.9 5743.3 6142.9 6458.0 6779.0 7393.6 21

 22 Funded by assets (7) 3367.5 3734.3 4237.5 4668.5 5183.1 5064.9 4872.9 4455.1 5270.5 5672.4 22

 23 Unfunded (line 18) 991.8 854.8 577.0 472.7 261.8 678.4 1269.9 2002.9 1508.6 1721.2 23

 24 Household retirement assets (8) 7842.9 8523.9 9534.6 10745.1 11995.9 12276.3 12408.3 12385.0 13862.6 15291.5 24

 25 Defined benefit plans 4291.3 4515.6 4736.7 5054.0 5346.3 5655.4 6052.6 6372.8 6691.4 7307.7 25

 26 Defined contribution plans 1467.7 1679.1 2223.8 2585.5 2955.9 2905.4 2638.4 2402.7 2993.0 3328.9 26

 27 Individual retirement plans (IRAs) (9) 1288.0 1467.0 1728.0 2150.0 2651.0 2629.0 2619.0 2532.0 2993.0 3299.0 27

 28 Annuities at life insurance companies (10) 795.8 862.1 846.1 955.6 1042.8 1086.5 1098.3 1077.5 1185.2 1355.9 28

(1) Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(8) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(9) IRA assets are not included above. See memo items on table L.227 for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs at life insurance companies are excluded. They are included in line 27.
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Historical Annuals, 1995-2004, March 10, 2016 87

L.118 Private Pension Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (2) 2761.5 3012.7 3439.8 3850.7 4229.0 4286.0 4176.5 4033.8 4574.1 4989.1 1

 2 Checkable deposits and currency 4.9 5.5 6.9 6.1 7.4 10.7 9.9 10.2 10.3 10.4 2

 3 Time and savings deposits 110.0 118.8 129.8 159.5 120.3 97.4 61.0 57.1 60.1 55.4 3

 4 Money market fund shares 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 4

 5 Security repurchase agreements 22.4 27.3 28.5 29.7 31.6 26.5 17.7 19.0 20.5 21.0 5

 6 Debt securities 597.6 589.1 632.4 623.6 725.7 602.5 567.6 560.2 632.3 631.9 6

 7 Open market paper 23.6 29.0 30.3 32.4 36.6 31.9 23.9 25.9 24.2 24.6 7

 8 Treasury securities 120.5 115.4 117.4 104.0 120.8 111.2 104.2 101.1 114.9 110.4 8

 9 Agency- and GSE-backed securities 212.9 201.2 207.3 189.6 227.7 195.4 198.3 180.3 219.2 230.4 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 240.7 243.6 277.4 297.6 340.7 264.0 241.2 252.8 274.1 266.5 11

 12 Loans (mortgages) 8.6 9.3 10.1 9.9 11.7 11.9 9.8 10.3 10.2 10.0 12

 13 Corporate equities 1217.6 1357.1 1544.2 1797.5 1880.6 1891.4 1842.4 1537.4 2027.2 2260.5 13

 14 Mutual fund shares 357.0 472.7 687.9 825.6 1104.2 1175.6 1005.0 969.4 1177.3 1337.0 14

 15 Miscellaneous assets 405.5 383.8 337.4 334.1 270.6 388.7 588.0 785.7 551.9 578.0 15

 16 Unallocated insurance contracts (3) 322.2 341.0 390.8 392.7 406.9 363.6 326.3 292.2 372.9 392.3 16

 17 Contributions receivable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 17

 18 Claims of pension fund on sponsor (4) -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 18

 19 Other 93.8 113.6 123.5 128.6 148.3 145.6 101.6 103.8 101.0 104.7 19

 20 Pension entitlements (liabilities) (5) 2802.0 3056.8 3486.8 3904.9 4286.7 4326.5 4223.0 4075.8 4615.6 5029.7 20

 Memo:

 Funded status of defined benefit plans:

 21 Pension entitlements 1412.5 1474.3 1536.0 1664.2 1755.6 1826.0 1968.4 2021.1 2064.3 2207.1 21

 22 Funded by assets (6) 1506.7 1634.3 1810.6 1961.9 2132.3 2019.5 1856.7 1681.3 2036.0 2172.8 22

 23 Unfunded (line 17) -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 23

 Total financial assets (7)

 24 Defined benefit plans 1371.9 1430.2 1489.0 1610.0 1698.0 1785.5 1922.0 1979.1 2022.8 2166.5 24

 25 Defined contribution plans 1389.5 1582.5 1950.7 2240.7 2531.0 2500.5 2254.6 2054.7 2551.3 2822.6 25

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on tables L.118.b and L.118.c.
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88 Historical Annuals, 1995-2004, March 10, 2016

L.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (1) 1371.9 1430.2 1489.0 1610.0 1698.0 1785.5 1922.0 1979.1 2022.8 2166.5 1

 2 Checkable deposits and currency 2.1 2.2 2.6 3.2 3.4 4.7 5.3 5.1 5.1 5.2 2

 3 Time and savings deposits 75.4 89.7 106.4 122.9 103.2 79.5 44.3 38.8 41.1 36.3 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 11.2 14.2 14.2 14.3 14.0 4.9 3.5 2.8 3.9 4.4 5

 6 Debt securities 455.3 444.1 480.9 457.6 546.6 424.2 404.0 367.3 440.6 430.3 6

 7 Open market paper 11.2 14.2 14.2 14.4 14.8 7.4 7.1 5.7 4.8 4.5 7

 8 Treasury securities 79.7 74.7 77.9 57.2 75.9 64.2 63.9 51.2 65.5 58.6 8

 9 Agency- and GSE-backed securities 185.6 173.3 180.4 162.2 192.6 155.3 157.1 139.2 174.8 182.5 9

 10 Corporate and foreign bonds 178.8 181.9 208.4 223.8 263.3 197.2 175.9 171.3 195.6 184.7 10

 11 Loans (mortgages) 4.8 4.9 5.4 5.0 5.0 3.7 4.4 4.6 4.5 4.4 11

 12 Corporate equities 688.8 764.3 844.0 949.1 1006.3 1076.0 1060.7 917.6 1170.8 1294.2 12

 13 Mutual fund shares 68.5 91.0 122.3 156.6 199.0 236.4 180.8 188.8 197.4 233.6 13

 14 Miscellaneous assets 65.9 19.9 -86.8 -98.6 -179.4 -43.8 219.1 454.1 159.3 158.1 14

 15 Unallocated insurance contracts (2) 80.7 89.9 92.0 95.1 91.9 86.1 72.4 86.4 105.7 95.0 15

 16 Contributions receivable 45.8 47.5 52.8 60.9 53.4 36.0 10.2 5.7 5.7 3.7 16

 17 Claims of pension fund on sponsor (3) -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 17

 18 Other 33.5 42.5 42.8 43.1 52.0 27.6 24.8 22.2 19.6 25.2 18

 19 Pension entitlements (liabilities) (4) 1412.5 1474.3 1536.0 1664.2 1755.6 1826.0 1968.4 2021.1 2064.3 2207.1 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 1389.5 1582.5 1950.7 2240.7 2531.0 2500.5 2254.6 2054.7 2551.3 2822.6 1

 2 Checkable deposits and currency 2.8 3.3 4.3 2.9 4.0 6.1 4.7 5.1 5.2 5.3 2

 3 Time and savings deposits 34.6 29.1 23.3 36.6 17.1 18.0 16.7 18.3 19.0 19.0 3

 4 Money market fund shares 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 4

 5 Security repurchase agreements 11.3 13.2 14.3 15.4 17.7 21.6 14.2 16.2 16.5 16.6 5

 6 Debt securities 142.2 145.1 151.5 166.0 179.1 178.4 163.6 192.9 191.6 201.7 6

 7 Open market paper 12.4 14.8 16.0 18.0 21.8 24.5 16.9 20.3 19.4 20.1 7

 8 Treasury securities 40.7 40.7 39.5 46.7 44.9 47.0 40.4 49.9 49.3 51.9 8

 9 Agency- and GSE-backed securities 27.3 27.8 26.9 27.5 35.1 40.1 41.2 41.1 44.4 48.0 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 61.8 61.7 69.0 73.8 77.3 66.8 65.2 81.6 78.5 81.8 11

 12 Loans (mortgages) 3.8 4.4 4.7 4.9 6.7 8.2 5.4 5.8 5.8 5.6 12

 13 Corporate equities 528.8 592.8 700.2 848.4 874.3 815.4 781.7 619.8 856.5 966.3 13

 14 Mutual fund shares 288.5 381.6 565.6 669.0 905.2 939.3 824.2 780.6 979.9 1103.4 14

 15 Miscellaneous assets 339.7 363.9 424.2 432.7 450.1 432.5 368.9 331.6 392.6 419.8 15

 16 Unallocated insurance contracts (2) 241.4 251.1 298.8 297.6 315.0 277.5 253.9 205.8 267.2 297.4 16

 17 Contributions receivable 37.9 41.7 44.7 49.6 38.7 37.0 38.2 44.2 44.1 43.0 17

 18 Other 60.3 71.1 80.7 85.5 96.4 118.0 76.8 81.5 81.3 79.5 18

 19 Pension entitlements (liabilities) 1389.5 1582.5 1950.7 2240.7 2531.0 2500.5 2254.6 2054.7 2551.3 2822.6 19

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
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Historical Annuals, 1995-2004, March 10, 2016 89

L.119 Federal Government Employee Retirement Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (1) 1598.9 1675.4 1756.0 1841.2 1928.8 2003.0 2079.6 2163.2 2283.2 2389.0 1

 2 Debt securities 521.0 587.5 629.7 673.7 717.4 740.4 810.8 848.5 880.1 926.1 2

 3 Treasury securities (2) 519.9 586.3 628.4 672.0 715.8 738.7 806.5 840.8 870.8 916.4 3

 4 Agency- and GSE-backed securities 0.6 0.7 0.7 1.0 0.9 1.0 2.6 4.8 5.7 5.8 4

 5 Corporate and foreign bonds 0.5 0.5 0.6 0.7 0.7 0.7 1.6 2.9 3.7 4.0 5

 6 Corporate equities 11.5 18.8 29.9 43.0 56.9 56.6 49.1 45.7 79.2 97.7 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 1066.5 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 7

 8 Pension entitlements (liabilities) (4) 1598.9 1675.4 1756.0 1841.2 1928.8 2003.0 2079.6 2163.2 2283.2 2389.0 8

 Memo:

 Funded status of defined benefit plans:

 9 Pension entitlements 1563.9 1630.6 1698.0 1767.5 1838.5 1910.9 1985.5 2069.1 2163.1 2246.4 9

 10 Funded by assets (5) 506.3 561.4 601.7 642.9 684.0 704.9 765.8 800.1 839.1 881.2 10

 11 Unfunded (line 7) 1057.6 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 11

 Total financial assets (6)

 12 Defined benefit plans 1563.9 1630.6 1698.0 1767.5 1838.5 1910.9 1985.5 2069.1 2163.1 2246.4 12

 13 Defined contribution plans 35.0 44.9 58.0 73.7 90.3 92.0 94.1 94.1 120.1 142.6 13

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes marketable and nonmarketable Treasury securities.

(3) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(5) Total defined benefit financial assets less defined benefit claims of pension fund on sponsor.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables L.119.b and L.119.c.
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90 Historical Annuals, 1995-2004, March 10, 2016

L.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (2) 1563.9 1630.6 1698.0 1767.5 1838.5 1910.9 1985.5 2069.1 2163.1 2246.4 1

 2 Debt securities 506.3 561.4 601.7 642.9 684.0 704.9 765.8 793.4 822.1 863.4 2

 3 Treasury securities (3) 506.3 561.4 601.7 642.9 684.0 704.9 765.8 791.5 817.4 857.7 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.2 2.8 3.3 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 1.9 2.4 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.7 17.0 17.8 6

 7 Claims of pension fund on sponsor (misc. assets) (4) 1057.6 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 7

 8 Pension entitlements (liabilities) (5) 1563.9 1630.6 1698.0 1767.5 1838.5 1910.9 1985.5 2069.1 2163.1 2246.4 8

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

L.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 35.0 44.9 58.0 73.7 90.3 92.0 94.1 94.1 120.1 142.6 1

 2 Debt securities 14.6 26.1 28.0 30.8 33.4 35.5 45.0 55.1 58.0 62.7 2

 3 Treasury securities (2) 13.6 24.9 26.7 29.1 31.8 33.7 40.8 49.4 53.4 58.7 3

 4 Agency- and GSE-backed securities 0.6 0.7 0.7 1.0 0.9 1.0 2.6 3.6 2.9 2.5 4

 5 Corporate and foreign bonds 0.5 0.5 0.6 0.7 0.7 0.7 1.6 2.2 1.8 1.6 5

 6 Corporate equities 11.5 18.8 29.9 43.0 56.9 56.6 49.1 39.0 62.1 79.9 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 8.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Pension entitlements (liabilities) 35.0 44.9 58.0 73.7 90.3 92.0 94.1 94.1 120.1 142.6 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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Historical Annuals, 1995-2004, March 10, 2016 91

L.120 State and Local Government Employee Retirement Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (1) 1398.7 1506.6 1764.7 1947.5 2144.4 2271.9 2434.8 2578.5 2827.1 3258.5 1

 2 Checkable deposits and currency 4.2 7.5 5.4 10.0 9.3 10.0 11.5 13.0 13.8 12.9 2

 3 Time and savings deposits 4.7 2.6 2.9 2.6 2.2 2.0 2.2 2.2 1.9 6.1 3

 4 Money market fund shares 5.9 7.6 9.6 9.9 11.8 13.2 15.4 15.5 13.4 19.7 4

 5 Security repurchase agreements 31.5 28.2 28.6 37.5 40.4 39.8 34.0 27.1 23.4 15.8 5

 6 Debt securities 496.2 525.5 587.1 648.6 695.6 732.6 683.6 635.8 654.3 681.3 6

 7 Open market paper 32.7 30.1 31.7 42.2 47.6 52.5 56.1 55.8 46.8 38.0 7

 8 Treasury securities 208.5 213.4 219.9 213.8 200.0 179.7 156.7 163.0 151.8 152.7 8

 9 Agency- and GSE-backed securities 63.4 69.3 87.9 107.8 133.0 181.9 187.4 196.9 241.9 238.6 9

 10 Municipal securities 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 2.5 10

 11 Corporate and foreign bonds 189.7 212.3 246.1 281.6 312.0 316.7 281.8 219.3 209.4 249.5 11

 12 Loans (mortgages) 15.9 16.7 17.6 22.4 25.7 22.1 21.0 21.1 20.4 15.0 12

 13 Corporate equities 742.7 892.6 1140.7 1297.9 1536.4 1420.8 1364.2 1140.1 1530.0 1678.5 13

 14 Mutual fund shares 62.9 73.2 141.8 179.2 224.0 257.0 260.9 238.2 299.9 356.1 14

 15 Miscellaneous assets 34.7 -47.4 -169.0 -260.7 -400.9 -225.7 42.0 485.4 269.9 473.0 15

 16 Unallocated insurance contracts (2) 0.0 0.0 68.2 85.9 106.1 99.2 91.9 80.5 102.0 115.3 16

 17 Claims of pension fund on sponsor (3) 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 321.7 17

 18 Other 6.3 7.0 7.6 7.6 8.9 9.1 11.6 10.7 11.6 36.0 18

 19 Pension entitlements (liabilities) (4) 1426.1 1536.0 1795.5 1980.6 2185.4 2319.2 2478.7 2621.7 2873.2 3303.8 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 1382.9 1484.3 1580.4 1709.5 1850.8 2006.4 2189.0 2367.9 2551.6 2940.1 20

 21 Funded by assets (5) 1354.4 1538.7 1825.3 2063.7 2366.7 2340.4 2250.5 1973.7 2395.3 2618.4 21

 22 Unfunded (line 17) 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 321.7 22

 Total financial assets (6)

 23 Defined benefit plans 1355.5 1454.9 1549.7 1676.5 1809.8 1959.0 2145.1 2324.7 2505.5 2894.8 23

 24 Defined contribution plans 43.2 51.7 215.1 271.0 334.6 312.8 289.7 253.8 321.5 363.7 24

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables L.120.b and L.120.c.
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92 Historical Annuals, 1995-2004, March 10, 2016

L.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets (1) 1355.5 1454.9 1549.7 1676.5 1809.8 1959.0 2145.1 2324.7 2505.5 2894.8 1

 2 Checkable deposits and currency 4.2 7.5 5.3 10.0 9.2 9.9 11.4 12.9 13.7 12.9 2

 3 Time and savings deposits 4.5 2.3 2.4 2.0 1.7 1.6 1.8 1.7 0.8 5.2 3

 4 Money market fund shares 5.9 7.6 9.6 9.9 11.8 13.2 15.4 15.5 13.4 19.7 4

 5 Security repurchase agreements 31.5 28.2 28.6 37.5 40.4 39.8 34.0 27.1 23.4 15.8 5

 6 Debt securities 493.9 521.6 580.7 639.1 681.3 721.1 668.4 617.6 637.1 661.6 6

 7 Open market paper 31.5 28.2 28.6 37.5 40.4 47.3 51.3 48.0 41.6 31.8 7

 8 Treasury securities 208.2 212.8 219.0 212.6 198.8 179.1 155.1 158.9 148.6 148.7 8

 9 Agency- and GSE-backed securities 63.1 68.6 87.0 106.1 129.0 178.9 180.7 192.6 235.1 231.1 9

 10 Municipal securities 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 2.5 10

 11 Corporate and foreign bonds 189.2 211.4 244.5 279.6 310.0 314.2 279.7 217.3 207.4 247.4 11

 12 Loans (mortgages) 15.9 16.7 17.6 22.4 25.7 22.1 21.0 21.1 20.4 15.0 12

 13 Corporate equities 703.5 846.6 1051.3 1188.1 1407.7 1298.7 1260.4 1056.8 1421.0 1557.2 13

 14 Mutual fund shares 62.9 73.2 93.4 115.9 140.9 178.3 184.3 167.4 207.9 249.9 14

 15 Miscellaneous assets 33.3 -48.8 -239.3 -348.4 -508.8 -325.8 -51.5 404.6 167.7 357.5 15

 16 Claims of pension fund on sponsor (2) 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 321.7 16

 17 Other 4.8 5.5 5.6 5.8 7.1 8.2 10.0 10.4 11.3 35.7 17

 18 Pension entitlements (liabilities) (3) 1382.9 1484.3 1580.4 1709.5 1850.8 2006.4 2189.0 2367.9 2551.6 2940.1 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

L.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 43.2 51.7 215.1 271.0 334.6 312.8 289.7 253.8 321.5 363.7 1

 2 Checkable deposits and currency 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.1 0.1 0.1 2

 3 Time and savings deposits 0.2 0.3 0.5 0.6 0.5 0.4 0.5 0.5 1.0 0.8 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 2.3 3.9 6.4 9.6 14.3 11.4 15.2 18.2 17.2 19.7 6

 7 Open market paper 1.3 1.8 3.0 4.7 7.2 5.2 4.8 7.8 5.2 6.2 7

 8 Treasury securities 0.3 0.6 0.9 1.3 1.1 0.7 1.6 4.1 3.2 4.0 8

 9 Agency- and GSE-backed securities 0.2 0.6 0.9 1.7 4.0 3.0 6.7 4.3 6.8 7.5 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.5 0.8 1.6 2.0 1.9 2.5 2.1 2.0 2.0 2.0 11

 12 Corporate equities 39.2 46.0 89.4 109.8 128.7 122.2 103.9 83.3 109.0 121.3 12

 13 Mutual fund shares 0.0 0.0 48.4 63.3 83.1 78.7 76.6 70.9 92.0 106.1 13

 14 Miscellaneous assets 1.5 1.5 70.3 87.7 107.9 100.1 93.5 80.8 102.2 115.6 14

 15 Unallocated insurance contracts (2) 0.0 0.0 68.2 85.9 106.1 99.2 91.9 80.5 102.0 115.3 15

 16 Other 1.5 1.5 2.1 1.8 1.8 0.9 1.6 0.3 0.3 0.3 16

 17 Pension entitlements (liabilities) 43.2 51.7 215.1 271.0 334.6 312.8 289.7 253.8 321.5 363.7 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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Historical Annuals, 1995-2004, March 10, 2016 93

L.121 Money Market Mutual Funds (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 1

 2 Foreign deposits 19.7 23.1 23.2 30.1 41.1 80.4 111.1 104.3 67.3 68.1 2

 3 Checkable deposits and currency -3.5 -1.1 1.5 -1.0 -3.3 1.3 5.3 -1.3 -1.8 0.8 3

 4 Time and savings deposits 52.3 82.7 111.3 123.9 155.4 157.3 242.0 219.4 161.3 177.3 4

 5 Security repurchase agreements 87.8 103.8 126.6 138.8 140.5 183.6 234.0 278.4 252.2 233.8 5

 6 Debt securities 545.5 634.3 721.9 970.8 1156.4 1325.8 1594.3 1564.8 1491.0 1346.3 6

 7 Open market paper 235.5 273.9 336.0 415.1 525.3 627.7 642.0 604.6 470.9 405.0 7

 8 Treasury securities 70.0 90.2 86.2 107.9 103.8 91.9 139.2 142.5 131.9 102.8 8

 9 Agency- and GSE-backed securities 90.8 101.8 96.3 172.4 191.0 187.7 343.4 324.4 332.1 270.0 9

 10 Municipal securities 127.7 144.5 167.0 193.1 211.5 242.2 269.5 285.8 308.9 322.3 10

 11 Corporate and foreign bonds 21.5 23.9 36.4 82.2 124.8 176.4 200.2 207.4 247.3 246.2 11

 12 Miscellaneous assets 39.4 43.8 58.1 61.5 84.8 63.9 53.8 51.5 34.4 41.7 12

 13 Total shares outstanding (liabilities) 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.116).

L.122 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 1

 2 Security repurchase agreements 50.2 47.5 57.8 70.9 80.8 99.6 70.7 81.6 94.5 112.6 2

 3 Debt securities 761.1 809.2 886.7 1011.3 1056.8 1078.9 1212.6 1350.6 1488.7 1593.8 3

 4 Open market paper 50.2 47.2 57.8 70.9 80.8 99.6 70.7 63.1 76.2 94.2 4

 5 Treasury securities 143.8 125.8 136.4 141.0 117.3 127.4 115.5 126.5 136.4 148.9 5

 6 Agency- and GSE-backed securities 171.3 204.4 213.3 234.9 271.1 283.7 370.4 430.8 455.2 462.6 6

 7 Municipal securities 210.2 213.3 219.8 242.6 239.4 230.4 253.0 276.8 289.7 293.8 7

 8 Corporate and foreign bonds 185.5 218.5 259.4 322.0 348.2 337.7 402.9 453.5 531.3 594.2 8

 9 Loans (other loans and advances) 10.2 11.0 14.4 17.1 19.9 24.3 17.0 17.5 16.4 26.0 9

 10 Corporate equities 1024.9 1470.0 2018.7 2506.2 3376.7 3226.9 2834.0 2187.4 3051.3 3693.6 10

 11 Miscellaneous assets 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 11

 12 Total shares outstanding (liabilities) 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.116).

L.123 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Total financial assets 136.4 144.4 145.9 148.8 152.0 141.8 139.5 150.7 205.3 245.0 1

 2 Debt securities 94.5 97.4 96.3 101.2 110.8 105.3 108.5 117.1 152.5 163.2 2

 3 Treasury securities 11.1 11.2 9.8 8.8 7.6 6.7 6.7 3.9 4.6 6.8 3

 4 Municipal securities 58.2 59.1 59.4 60.7 69.7 67.7 74.7 86.0 89.2 89.1 4

 5 Corporate and foreign bonds 25.2 27.1 27.1 31.8 33.5 30.9 27.1 27.1 58.8 67.3 5

 6 Corporate equities 41.9 47.0 49.6 47.6 41.2 36.5 31.0 33.6 52.7 81.8 6

 7 Total shares outstanding (liabilities) 136.4 144.4 145.9 148.8 152.0 141.8 139.5 150.7 205.3 245.0 7

 Exchange-traded funds

 8 Total financial assets 1.1 2.4 6.7 15.6 33.9 65.6 83.0 102.0 150.8 227.3 8

 9 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 4.5 8.2 9

 10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.1 4.9 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 1.8 2.4 3.3 12

 13 Corporate equities 1.1 2.4 6.7 15.6 33.9 65.6 83.0 98.2 146.3 219.0 13

 14 Total shares outstanding (liabilities) 1.1 2.4 6.7 15.6 33.9 65.6 83.0 102.0 150.8 227.3 14
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94 Historical Annuals, 1995-2004, March 10, 2016

L.124 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 897.4 989.2 1100.8 1405.8 1723.2 1965.0 2310.5 2552.2 2797.8 2885.7 1

 2 Checkable deposits and currency 1.5 0.8 2.1 5.0 12.1 4.4 6.7 14.8 28.8 39.1 2

 3 Time and savings deposits 0.0 0.0 6.4 4.7 10.0 22.2 30.3 25.3 16.7 23.3 3

 4 Federal funds and security repos 106.3 94.5 90.4 77.0 89.7 80.6 105.5 98.3 78.8 96.3 4

 5 Debt securities 312.1 360.7 434.5 651.9 830.6 1015.6 1256.4 1414.3 1376.2 1364.6 5

 6 Open market paper 25.5 35.1 27.6 56.2 23.9 31.1 33.8 10.4 6.7 5.8 6

 7 Treasury securities 58.0 18.8 25.9 25.2 30.9 13.3 13.6 25.7 13.5 12.9 7

 8 Agency- and GSE-backed securities 190.8 256.6 324.2 482.7 655.6 810.9 1017.8 1149.5 1088.9 886.5 8

 9 Municipal securities 7.8 12.1 12.7 19.2 22.7 29.2 35.4 39.4 44.4 44.6 9

 10 Corporate and foreign bonds 29.9 38.1 44.1 68.7 97.5 131.1 155.7 189.3 222.8 414.8 10

 11 Loans 450.7 473.2 499.7 599.6 708.2 778.8 842.8 908.8 1187.9 1248.4 11

 12 Other loans and advances 166.0 195.3 230.7 324.2 432.3 477.6 505.9 514.7 545.9 619.4 12

 13 Sallie Mae 3.5 2.4 1.4 1.1 0.8 0.8 0.8 0.4 0.3 0.0 13

 14 Farm Credit System 30.2 31.6 31.6 34.9 35.8 38.9 41.8 43.8 43.8 43.6 14

 15 FHLB 132.3 161.4 197.8 288.2 395.7 437.9 463.3 470.5 501.7 575.8 15

 16 Mortgages 250.4 244.1 239.4 247.0 242.0 264.3 297.5 357.3 621.5 629.0 16

 17 Home 209.5 202.9 198.2 203.9 193.5 209.6 231.2 276.8 519.1 508.6 17

 18 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Other 209.5 202.9 198.2 203.9 193.5 209.6 231.2 276.8 519.1 508.6 19

 20 Multifamily residential 18.5 17.7 16.2 16.2 20.5 25.0 33.2 41.7 68.2 82.5 20

 21 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other 18.5 17.7 16.2 16.2 20.5 25.0 33.2 41.7 68.2 82.5 22

 23 Farm 22.5 23.5 25.0 27.0 28.1 29.7 33.1 38.8 34.2 38.0 23

 24 Consumer credit (3) 34.3 33.8 29.5 28.4 33.8 37.0 39.4 36.8 20.6 0.0 24

 25 Miscellaneous assets 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 25

 26 Total liabilities 872.1 963.1 1071.1 1371.0 1684.3 1923.5 2278.8 2538.8 2752.8 2819.9 26

 27 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.8 1.7 6.4 5.2 27

 28 Debt securities (GSE issues) (4) 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 28

 29 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Other 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 30

 31 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Miscellaneous liabilities 65.1 65.7 74.6 95.6 90.1 97.0 147.4 186.7 145.2 138.5 32

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (L.125) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets (L.124).

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

L.125 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Total financial assets 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 1

 2 Home mortgages 1543.4 1678.8 1788.1 1970.2 2234.7 2425.6 2748.5 3063.7 3233.5 3277.3 2

 3 Multifamily residential mortgages 26.9 32.5 37.8 48.3 57.5 66.0 81.6 94.5 108.7 105.7 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 0.4 0.4 0.4 0.5 1.3 1.6 1.7 0.4 1.0 0.9 5

 6 Total pool securities (liabilities)(2) 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 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 (L.125) are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (L.124). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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Historical Annuals, 1995-2004, March 10, 2016 95

L.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 662.9 772.3 907.5 1164.5 1323.8 1506.6 1750.3 2008.8 2259.5 2737.2 1

 2 Debt securites 127.6 123.0 101.2 126.4 167.8 176.8 210.2 285.0 368.7 357.4 2

 3 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.8 2.1 7.6 3

 4 Agency- and GSE-backed securities (1) 127.6 123.0 101.2 126.4 167.8 176.6 210.2 284.2 366.6 349.8 4

 5 Loans 484.4 589.2 725.3 952.4 1085.5 1236.9 1426.2 1594.1 1731.1 2190.2 5

 6 Other loans and advances 30.0 38.3 64.6 90.3 90.1 104.2 127.7 144.0 149.2 168.1 6

 7 Mortgages (2) 241.3 277.4 340.2 468.2 538.7 604.2 700.6 819.8 987.1 1450.5 7

 8 Home 193.8 215.4 253.8 321.9 353.7 384.8 463.9 545.5 669.0 1059.2 8

 9 Multifamily residential 11.9 15.7 20.3 33.1 41.6 47.0 52.5 59.1 66.4 76.7 9

 10 Commercial 35.6 46.4 66.1 113.2 143.4 172.3 184.2 215.3 251.6 314.6 10

 11 Consumer credit 213.1 273.5 320.5 393.9 456.7 528.4 597.8 630.4 594.8 571.5 11

 12 Trade credit 50.9 60.1 81.0 85.0 67.2 83.3 89.1 83.5 92.3 102.6 12

 13 Miscellaneous assets (funding agreements) (3) 0.0 0.0 0.0 0.8 3.3 9.6 24.8 46.2 67.4 87.1 13

 14 Total liabilities 666.4 781.0 918.4 1177.2 1333.5 1513.1 1757.1 2014.6 2265.0 2742.0 14

 15 Debt securities 666.4 781.0 918.4 1177.2 1333.5 1513.1 1757.1 2014.6 2265.0 2742.0 15

 16 Commercial paper 101.2 146.7 256.1 381.8 520.8 645.8 607.8 566.1 530.0 526.1 16

 17 Corporate bonds (net) (4) 565.1 634.3 662.2 795.4 812.8 867.3 1149.3 1448.5 1735.0 2215.9 17

 Memo:

 Securitized assets not included above

 18 Consumer leases (5) 3.5 8.7 10.8 12.7 9.7 6.6 6.8 5.7 5.5 4.8 18

 19 REIT assets (6) 7.6 7.4 11.1 13.9 11.5 10.0 6.7 14.8 30.3 89.9 19

 Securitized liabilities not included above

 20 Commercial paper (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Funding agreements with life insurance companies.

(4) Liabilities net of assets.

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

 The leased automobile is a nonfinancial asset.

(6) Included on table L.128.

(7) Included on table L.111 line 45.
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96 Historical Annuals, 1995-2004, March 10, 2016

L.127 Finance Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 705.4 757.9 799.3 859.5 1016.7 1212.9 1304.0 1445.6 1679.5 1858.0 1

 2 Checkable deposits and currency 16.3 19.0 18.6 19.6 21.2 23.7 23.0 25.2 27.1 26.3 2

 3 Time and savings deposits 16.3 19.0 22.7 24.0 31.7 35.6 42.8 46.8 63.2 61.3 3

 4 Debt securities (corporate and foreign bonds) 95.3 110.8 120.5 127.6 154.6 173.4 192.4 210.5 263.8 256.0 4

 5 Loans 559.2 586.3 600.3 685.2 792.0 928.5 978.4 1082.0 1204.9 1419.8 5

 6 Other loans and advances 301.6 304.7 304.1 340.9 395.1 456.2 440.2 444.0 441.7 451.5 6

 7 Mortgages 105.5 126.7 128.6 160.9 195.3 237.9 258.2 330.5 370.2 476.0 7

 8 Consumer credit 152.1 154.9 167.5 183.3 201.6 234.4 280.0 307.5 393.0 492.3 8

 9 U.S. direct investment abroad 22.8 27.9 35.1 58.0 20.5 16.2 11.9 12.4 15.7 14.7 9

 10 Miscellaneous assets -4.6 -5.0 2.2 -54.9 -3.3 35.5 55.6 68.7 104.9 79.8 10

 11 Total liabilities 724.2 783.3 812.9 864.2 1012.7 1233.7 1299.7 1435.1 1674.9 1864.3 11

 12 Debt securities 468.6 514.8 544.1 599.0 660.7 743.3 733.7 783.1 888.4 992.7 12

 13 Open market paper 168.6 178.0 202.6 233.3 230.4 240.1 162.4 147.8 145.1 175.3 13

 14 Corporate bonds 300.0 336.8 341.5 365.6 430.3 503.3 571.3 635.3 743.2 817.4 14

 15 Loans 31.8 40.3 40.3 46.3 60.1 63.8 84.3 101.1 106.9 136.9 15

 16 Depository institution loans n.e.c. 31.8 40.3 40.3 46.3 60.1 63.8 84.3 101.1 106.9 136.9 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 4.9 5.7 6.5 7.3 8.1 9.1 10.2 11.6 13.2 15.0 18

 19 Foreign direct investment in U.S. 7.5 8.9 5.5 8.0 9.9 9.3 12.9 14.5 30.7 21.8 19

 20 Miscellaneous liabilities 211.5 213.7 216.5 203.6 273.8 408.3 458.6 524.7 635.7 697.8 20

 21 Investment by parent 51.1 54.6 63.1 54.0 112.5 138.6 156.5 179.6 202.8 257.7 21

 22 Other 160.4 159.1 153.4 149.6 161.3 269.7 302.1 345.2 432.9 440.1 22

 Memo:

 23 Consumer leases not included above (2) 80.8 93.2 98.8 96.6 102.9 109.4 107.4 89.8 79.0 74.1 23

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (5), table L.126.
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Historical Annuals, 1995-2004, March 10, 2016 97

L.128 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 33.3 38.2 64.3 70.7 68.3 65.0 75.9 100.6 135.0 251.6 1

 2 Checkable deposits and currency 0.0 2.2 3.3 4.1 4.4 4.4 5.5 5.4 9.2 12.2 2

 3 Debt securities 11.9 16.5 27.7 19.2 20.5 21.3 30.1 42.1 47.8 80.7 3

 4 Agency- and GSE-backed securities 9.0 12.2 21.2 13.1 11.4 12.0 20.3 31.8 28.9 44.7 4

 5 Corporate and foreign bonds 2.9 4.3 6.5 6.1 9.2 9.4 9.8 10.4 18.9 36.0 5

 6 Loans (mortgages) 14.1 13.8 22.9 26.3 23.5 17.5 17.9 28.1 48.8 118.4 6

 7 Home 6.9 8.0 14.0 14.8 11.3 7.8 8.6 18.7 37.2 103.1 7

 8 Multifamily residential 1.6 1.2 2.1 2.1 2.3 1.7 1.4 1.3 1.5 1.6 8

 9 Commercial 5.6 4.6 6.9 9.4 10.0 8.0 7.9 8.1 10.1 13.6 9

 10 Miscellaneous assets 7.3 5.6 10.5 21.2 19.9 21.7 22.4 25.0 29.3 40.4 10

 11 Total liabilities 62.2 79.4 139.0 205.6 215.9 218.0 231.1 275.5 314.8 461.2 11

 12 Security repurchase agreements 10.9 13.7 24.9 15.1 14.9 12.4 21.6 36.2 41.6 70.3 12

 13 Debt securities 15.5 16.8 31.7 53.6 61.7 64.6 69.2 83.3 107.1 183.8 13

 14 Open market paper 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 15.5 16.8 31.6 53.4 61.7 64.6 69.2 83.3 107.1 183.8 15

 16 Loans 29.1 39.7 64.4 105.2 103.0 103.0 102.1 115.1 123.6 156.3 16

 17 Depository institution loans n.e.c. 5.0 7.8 17.6 33.6 24.2 19.4 16.4 18.1 17.8 24.9 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 Mortgages 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 19

 20 Miscellaneous liabilities 6.7 9.2 18.0 31.6 36.3 38.1 38.1 40.9 42.5 50.8 20

 Memo:

 21 Securitized assets included above 7.6 7.4 11.1 13.9 11.5 10.0 6.7 14.8 30.3 89.9 21

 22 Agency- and GSE-backed securities 4.2 4.5 4.9 5.0 3.7 3.5 0.3 0.0 0.0 0.0 22

 23 Home mortgages 3.5 2.6 5.7 7.5 5.6 5.4 5.5 13.2 28.9 86.8 23

 24 Multifamily residential mortgages 0.0 0.3 0.4 0.8 0.4 0.1 0.1 0.1 0.1 0.1 24

 25 Commercial mortgages 0.0 0.0 0.0 0.6 2.0 1.1 0.8 1.4 1.3 3.1 25

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables L.128.e and L.128.m.
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98 Historical Annuals, 1995-2004, March 10, 2016

L.128.e Equity Real Estate Investment Trusts

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 26.5 29.5 49.0 48.1 29.2 29.8 29.7 30.6 38.6 48.4 1

 2 Checkable deposits and currency 0.0 1.9 2.9 3.5 3.7 3.8 4.8 4.5 8.1 8.7 2

 3 Debt securities (corporate and foreign bonds) 0.4 0.6 0.9 0.9 1.0 1.4 1.0 0.8 1.0 1.4 3

 4 Loans (mortgages) 4.3 3.5 5.3 7.0 7.4 5.9 5.4 4.6 5.1 5.7 4

 5 Home 0.1 0.2 0.3 0.3 0.1 0.1 0.1 0.1 0.1 0.0 5

 6 Multifamily residential 0.6 0.4 0.8 0.8 0.7 0.7 0.5 0.3 0.3 0.3 6

 7 Commercial 3.6 2.9 4.3 5.9 6.5 5.1 4.7 4.2 4.7 5.4 7

 8 Miscellaneous assets 21.8 23.4 39.9 36.8 17.0 18.6 18.5 20.7 24.4 32.6 8

 9 Total liabilities 55.3 70.6 123.7 183.0 182.9 189.2 192.6 214.3 228.9 277.2 9

 10 Debt securities (corporate bonds) 12.2 13.3 25.0 42.2 46.8 51.0 56.1 63.3 68.5 82.7 10

 11 Loans 28.7 39.1 63.2 102.9 100.7 101.2 100.1 112.1 120.6 148.3 11

 12 Depository institution loans n.e.c. 4.7 7.2 16.4 31.3 21.9 17.6 14.4 15.1 14.7 17.0 12

 13 Mortgages 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 13

 14 Multifamily residential 7.9 10.5 15.4 23.6 14.6 17.6 19.1 20.8 21.3 24.9 14

 15 Commercial 16.1 21.4 31.4 48.0 64.3 65.9 66.6 76.1 84.5 106.5 15

 16 Miscellaneous liabilities 14.4 18.2 35.5 37.9 35.4 37.0 36.4 39.0 39.8 46.2 16

L.128.m Mortgage Real Estate Investment Trusts

Billions of dollars

 1 Total financial assets 6.8 8.7 15.3 22.6 39.2 35.2 46.2 70.0 96.4 203.2 1

 2 Checkable deposits and currency 0.0 0.3 0.4 0.5 0.7 0.6 0.7 0.9 1.1 3.5 2

 3 Debt securities 11.5 15.9 26.7 18.3 19.5 19.9 29.1 41.4 46.7 79.3 3

 4 Agency- and GSE-backed securities 9.0 12.2 21.2 13.1 11.4 12.0 20.3 31.8 28.9 44.7 4

 5 Corporate and foreign bonds 2.5 3.7 5.6 5.2 8.1 7.9 8.8 9.6 17.8 34.6 5

 6 Loans (mortgages) 9.9 10.3 17.6 19.3 16.2 11.6 12.6 23.5 43.7 112.7 6

 7 Home 6.8 7.8 13.7 14.5 11.1 7.7 8.5 18.6 37.1 103.1 7

 8 Multifamily residential 1.0 0.8 1.3 1.4 1.6 1.0 0.9 1.0 1.2 1.3 8

 9 Commercial 2.1 1.7 2.5 3.5 3.5 2.9 3.2 3.9 5.4 8.3 9

 10 Miscellaneous assets -14.5 -17.8 -29.4 -15.6 2.8 3.1 3.8 4.3 4.9 7.7 10

 11 Total liabilities 6.8 8.7 15.3 22.6 33.0 28.9 38.4 61.2 85.9 184.0 11

 12 Security repurchase agreements 10.9 13.7 24.9 15.1 14.9 12.4 21.6 36.2 41.6 70.3 12

 13 Debt securities 3.3 3.5 6.7 11.4 14.9 13.6 13.1 20.0 38.6 101.1 13

 14 Open market paper 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 3.3 3.5 6.6 11.2 14.9 13.6 13.1 20.0 38.6 101.1 15

 16 Loans 0.4 0.5 1.2 2.4 2.3 1.8 2.0 3.0 3.0 8.0 16

 17 Depository institution loans n.e.c. 0.4 0.5 1.2 2.4 2.3 1.8 2.0 3.0 3.0 8.0 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 Miscellaneous liabilities -7.7 -9.1 -17.5 -6.3 0.9 1.1 1.8 1.9 2.6 4.6 19

 Memo:

 20 Securitized assets included above 7.6 7.4 11.1 13.9 11.5 10.0 6.7 14.8 30.3 89.9 20

 21 Agency- and GSE-backed securities 4.2 4.5 4.9 5.0 3.7 3.5 0.3 0.0 0.0 0.0 21

 22 Home mortgages 3.5 2.6 5.7 7.5 5.6 5.4 5.5 13.2 28.9 86.8 22

 23 Multifamily residential mortgages 0.0 0.3 0.4 0.8 0.4 0.1 0.1 0.1 0.1 0.1 23

 24 Commercial mortgages 0.0 0.0 0.0 0.6 2.0 1.1 0.8 1.4 1.3 3.1 24
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Historical Annuals, 1995-2004, March 10, 2016 99

L.129 Security Brokers and Dealers

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 1159.3 1310.6 1552.4 1602.5 1727.7 2019.8 2375.6 2352.2 2649.0 3159.8 1

 2 Checkable deposits and currency 13.7 15.7 21.7 25.4 28.7 30.3 47.1 44.2 47.2 62.9 2

 3 Security repurchase agreements 591.2 674.3 773.2 681.3 726.7 798.5 910.0 1016.8 1036.0 1314.9 3

 4 Debt securities 180.9 163.8 175.2 182.6 147.9 214.7 305.8 335.5 415.0 380.7 4

 5 Open market paper 22.1 23.7 24.3 28.0 26.0 39.2 48.2 43.5 49.4 48.0 5

 6 Treasury securities 18.3 -12.8 -5.3 15.8 -42.6 -3.3 9.8 -3.9 37.8 -44.6 6

 7 Agency- and GSE-backed securities 54.0 55.2 50.4 50.9 66.0 63.7 77.8 91.8 83.7 107.3 7

 8 Municipal securities 12.7 10.8 13.2 13.1 11.9 11.3 19.0 21.0 24.9 32.0 8

 9 Corporate and foreign bonds 73.8 86.9 92.6 74.7 86.6 103.8 151.0 183.1 219.3 238.0 9

 10 Loans (other loans and advances) 81.1 98.3 138.6 159.5 234.7 244.0 206.6 157.1 191.5 278.3 10

 11 Corporate equities 34.2 37.9 51.9 54.4 66.9 77.2 85.1 74.9 100.5 129.1 11

 12 U.S. direct investment abroad 2.8 12.4 4.2 7.7 49.9 61.0 83.0 100.5 137.3 189.2 12

 13 Miscellaneous assets 255.3 308.2 387.7 491.6 472.9 594.1 738.0 623.2 721.5 804.8 13

 14 Total liabilities 1133.0 1283.7 1523.3 1567.1 1687.2 1983.7 2334.6 2289.5 2576.1 3092.8 14

 15 Security repurchase agreements 827.5 898.1 1060.9 985.5 1037.5 1194.4 1362.2 1487.5 1653.1 1950.6 15

 16 Debt securities (corporate bonds) 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 16

 17 Loans 173.2 220.7 253.7 323.4 383.1 493.9 530.4 464.1 549.6 665.4 17

 18 Depository institution loans n.e.c. (1) 27.8 30.7 33.9 31.1 33.4 33.1 28.3 22.3 28.5 30.2 18

 19 Other loans and advances 145.4 189.9 219.8 292.3 349.7 460.7 502.1 441.9 521.1 635.2 19

 20 Trade payables 10.3 14.3 19.9 18.9 30.9 35.9 39.2 37.4 28.2 36.0 20

 21 Taxes payable 1.1 1.3 1.3 1.3 2.2 2.1 1.9 1.3 1.8 2.2 21

 22 Foreign direct investment in U.S. 17.4 20.8 29.4 29.7 38.7 54.0 56.1 35.4 37.4 49.6 22

 23 Miscellaneous liabilities 74.3 101.3 122.6 165.7 169.6 162.6 302.5 223.1 259.0 326.7 23

 24 Investment by parent companies 168.6 209.7 248.3 321.9 356.9 360.5 351.7 349.3 379.8 390.3 24

 25 Other -94.3 -108.4 -125.6 -156.2 -187.3 -197.9 -49.3 -126.2 -120.8 -63.5 25

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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100 Historical Annuals, 1995-2004, March 10, 2016

L.130 Holding Companies (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 502.9 551.9 617.8 743.0 803.7 908.3 1040.4 1164.7 1338.4 1623.3 1

 2 Time and savings deposits 0.8 0.5 0.3 0.9 0.6 0.6 0.7 1.7 1.6 1.8 2

 3 Security repurchase agreements 0.8 0.9 1.5 5.8 6.9 7.0 6.1 5.5 6.0 2.1 3

 4 Debt securities 15.8 19.5 25.0 22.3 30.1 18.8 22.7 24.9 28.6 31.0 4

 5 Treasury securities 3.4 4.0 4.0 0.9 8.8 0.8 1.2 1.3 2.7 2.0 5

 6 Agency- and GSE-backed securities 4.7 4.9 5.5 6.6 5.4 4.8 6.2 10.7 11.6 13.5 6

 7 Corporate and foreign bonds 7.7 10.5 15.5 14.8 15.9 13.2 15.3 12.9 14.2 15.5 7

 8 Loans (other loans and advances) 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 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 483.2 528.5 588.6 709.8 763.6 880.2 1009.0 1129.8 1294.4 1583.0 10

 11 Net trans. with depository subs. 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 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 15.6 19.6 23.4 25.9 13

 14 Net trans. with finance company subs. 28.6 31.5 35.2 36.0 83.9 109.2 144.9 161.1 181.8 234.1 14

 15 Net trans. with broker and dealer subs. 53.8 43.5 47.0 85.2 54.2 56.8 24.0 1.4 21.1 23.2 15

 16 Net trans. with foreign subs. 18.5 22.6 21.9 21.3 25.4 -7.1 -10.4 -11.1 33.1 7.5 16

 17 Other 31.8 46.6 69.0 90.6 98.9 125.5 178.6 235.9 292.3 330.5 17

 18 Total liabilities 182.0 206.9 247.3 302.9 357.6 399.9 462.6 523.9 626.6 706.7 18

 19 Security repurchase agreements 0.3 0.8 1.3 6.1 7.4 5.8 4.9 6.6 8.1 2.9 19

 20 Debt securities 148.0 150.0 168.6 193.5 219.3 242.5 266.1 286.4 321.8 381.3 20

 21 Commercial paper 30.1 32.0 37.6 45.4 54.5 55.7 50.6 48.3 42.3 53.1 21

 22 Corporate bonds 117.9 118.0 131.0 148.1 164.8 186.8 215.5 238.1 279.5 328.2 22

 23 Loans (depository institution loans n.e.c.) 7.3 18.0 17.7 27.7 41.1 45.6 39.4 38.7 54.2 50.4 23

 24 Miscellaneous liabilities 26.5 38.2 59.7 75.5 89.8 105.9 152.3 192.2 242.5 272.1 24

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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Historical Annuals, 1995-2004, March 10, 2016 101

L.131 Funding Corporations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 365.7 511.4 650.4 792.0 1064.1 1155.9 1238.7 1176.7 1231.8 1280.6 1

 2 Money market fund shares 110.1 175.7 213.4 309.1 400.5 429.0 583.5 565.0 490.0 368.9 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities 89.2 102.5 153.5 151.2 261.1 275.0 209.4 128.3 241.1 369.9 4

 5 Open market paper 65.5 66.0 120.3 113.6 227.3 250.1 138.6 71.9 129.8 273.0 5

 6 Corporate and foreign bonds 23.8 36.5 33.1 37.6 33.8 24.9 70.8 56.4 111.3 96.8 6

 7 Loans (other loans and advances) 0.9 2.4 3.4 4.4 6.8 9.5 9.4 8.2 7.3 7.0 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 165.5 230.7 280.1 327.3 395.7 442.4 436.5 475.2 493.4 534.8 9

 10 Investment in foreign banking offices 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 10

 11 Investment in brokers and dealers 114.8 166.3 201.3 236.8 302.7 303.8 327.7 347.9 358.7 367.1 11

 12 Total liabilities 365.7 511.4 650.4 792.0 1064.1 1155.9 1238.7 1176.7 1231.8 1280.6 12

 13 Debt securities 248.6 312.4 372.6 412.6 504.2 502.6 531.9 521.2 518.1 515.1 13

 14 Open market paper 164.2 198.8 228.5 234.4 268.6 265.1 272.2 231.1 212.5 197.4 14

 15 Corporate bonds 84.4 113.6 144.2 178.2 235.5 237.5 259.7 290.1 305.5 317.7 15

 16 Loans 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. (3) 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 (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Foreign direct investment in U.S. -82.2 -79.2 -81.2 -59.5 -8.5 6.6 7.7 7.3 7.6 7.8 19

 20 Miscellaneous liabilities 199.3 278.3 358.9 438.9 568.5 646.7 699.1 648.2 706.2 757.6 20

 21 Securities loaned (net) 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 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) -16.8 2.2 25.7 35.6 148.9 138.6 120.8 72.8 28.2 -7.2 23

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP.
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102 Historical Annuals, 1995-2004, March 10, 2016

L.132 Rest of the World

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total financial assets 3306.8 3819.7 4490.4 5047.7 5621.2 6204.0 6652.1 6959.5 8251.4 9699.1 1

 2 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 2

 3 Net interbank assets 131.9 100.6 111.0 116.6 123.3 81.7 54.4 64.6 75.9 47.3 3

 4 U.S. checkable deposits and currency 158.5 175.2 202.7 213.2 237.5 236.3 255.1 273.4 262.9 285.3 4

 5 U.S. time deposits 201.3 201.1 214.4 221.0 217.4 226.4 200.9 220.3 167.8 202.9 5

 6 Money market fund shares 5.1 5.8 6.6 7.3 8.1 11.2 15.1 16.3 18.8 22.9 6

 7 Security repurchase agreements 67.6 70.9 90.8 72.0 79.9 91.3 151.1 190.1 473.2 663.7 7

 8 Debt securities 1342.7 1669.6 1892.4 2059.7 2077.3 2334.5 2735.0 3197.8 3672.4 4449.6 8

 9 Open market paper 43.4 57.9 77.8 111.4 105.0 114.3 108.4 128.5 133.1 137.7 9

 10 Treasury securities 816.9 1040.3 1153.2 1166.2 1058.4 1021.4 1095.2 1285.5 1513.5 1813.6 10

 11 Treasury bills 197.4 236.9 193.2 183.5 185.7 177.8 218.2 268.9 290.9 323.7 11

 12 Other Treasury securities 619.6 803.5 960.0 982.8 872.7 843.6 877.0 1016.6 1222.6 1489.9 12

 13 Agency- and GSE-backed securities 123.1 134.4 157.3 185.6 232.3 348.2 504.1 637.5 661.1 861.7 13

 14 Municipal securities 4.0 4.9 5.9 6.8 7.8 8.0 8.0 11.5 19.5 26.0 14

 15 U.S. corporate bonds (1) 355.3 432.1 498.2 589.7 673.8 842.6 1019.2 1134.8 1345.2 1610.6 15

 16 Loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 16

 17 U.S. corporate equities 484.6 584.3 837.3 1107.9 1434.0 1483.0 1441.0 1229.1 1697.6 1952.7 17

 18 Mutual fund shares 59.9 82.3 109.0 135.1 169.5 149.0 116.6 90.5 123.1 147.7 18

 19 Trade receivables 45.8 51.3 52.2 45.7 46.2 45.8 42.7 45.0 46.5 45.4 19

 20 Foreign direct investment in U.S. (2) 680.1 745.6 824.1 920.0 1101.7 1421.0 1518.5 1500.0 1581.0 1742.7 20

 21 Total liabilities 2083.6 2379.3 2633.6 2824.0 3053.9 3327.7 3609.7 4027.6 4589.2 5474.9 21

 22 U.S. official reserve assets (3) 74.8 64.0 58.9 70.7 60.5 56.6 57.6 67.8 74.7 75.5 22

 23 U.S. private deposits 418.8 521.7 618.5 627.6 676.5 803.3 810.1 914.4 953.8 1142.2 23

 24 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 138.0 161.6 239.9 388.1 24

 25 Debt securities 488.1 567.1 633.2 674.4 647.1 703.3 704.0 819.3 1022.6 1153.9 25

 26 Commercial paper 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 276.1 345.3 26

 27 Bonds 431.9 499.6 568.2 601.6 557.9 582.4 505.5 562.1 746.5 808.6 27

 28 Loans 142.6 153.8 168.4 167.9 156.8 164.3 145.4 136.4 134.0 131.3 28

 29 Depository institution loans n.e.c. 79.6 89.7 105.9 111.3 105.7 114.5 99.4 92.7 92.2 93.1 29

 30 Other loans and advances 63.0 64.2 62.5 56.6 51.1 49.8 46.1 43.8 41.8 38.2 30

 31 Trade payables 25.1 28.4 31.2 31.2 36.4 37.1 31.8 30.4 33.6 32.7 31

 32 U.S. direct investment abroad (1,2) 885.5 989.8 1068.1 1196.0 1414.4 1531.6 1693.1 1867.0 2054.5 2498.5 32

 33 Miscellaneous liabilities 48.7 54.5 55.3 56.1 62.4 31.4 29.7 30.7 76.2 52.7 33

 34 U.S. equity in IBRD, etc. 28.0 29.8 31.4 33.0 34.4 35.9 37.6 39.1 40.5 42.5 34

 35 Nonofficial foreign currencies 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.6 2.6 35

 36 Investment by holding companies 18.5 22.6 21.9 21.3 25.4 -7.1 -10.4 -11.1 33.1 7.5 36

 Memo:

 37 Market value of foreign equities 790.6 1006.1 1207.8 1475.0 2003.7 1852.8 1612.7 1374.0 2079.4 2560.4 37

 held by U.S. residents (4)

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

(2) Direct investment is valued on a current-cost basis.

(3) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).
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Historical Annuals, 1995-2004, March 10, 2016 103

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 82.1 71.1 65.5 77.6 67.2 63.0 63.8 74.5 82.0 83.1 1

 2 Federal government: SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 2

 3 Rest of the world 74.8 64.0 58.9 70.7 60.5 56.6 57.6 67.8 74.7 75.5 3

 4 SDR holdings 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 4

 5 Reserve position in IMF 14.6 15.4 18.1 24.1 18.0 14.8 17.9 22.0 22.5 19.5 5

 6 Other reserves 49.1 38.3 30.8 36.0 32.2 31.2 29.0 33.7 39.5 42.5 6

 7 Total assets 93.1 82.1 76.6 88.7 78.2 74.0 74.8 85.5 93.0 94.2 7

 8 Federal government 53.8 44.9 42.0 51.0 44.5 41.1 43.2 51.0 55.0 54.3 8

 9 Monetary gold (2) 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 10

 11 Reserve position in IMF 14.7 15.5 18.2 24.2 18.1 14.9 18.0 22.1 22.7 19.6 11

 12 Other reserves 28.0 19.0 13.8 16.2 16.0 15.6 14.4 16.7 19.7 21.1 12

 13 Rest of the world: SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 13

 14 Monetary authority 32.1 30.2 28.0 30.7 27.1 26.6 25.5 27.9 30.8 32.3 14

 15 Monetary gold (2) 11.1 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

 16 Reserve position in IMF -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

 17 Other reserves 21.1 19.3 17.0 19.8 16.1 15.7 14.6 16.9 19.9 21.4 17

 18 Discrepancy: monetary gold -11.1 -11.0 -11.1 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 1

 2 Asset: Monetary authority 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 2

 Treasury currency:

 3 Liab: Federal government 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 3

 4 Asset: Monetary authority 24.0 25.0 25.5 26.3 28.0 31.6 33.0 34.6 35.5 36.4 4

 5 Discrepancy (seigniorage) -5.7 -6.1 -6.2 -6.4 -7.1 -8.5 -8.6 -9.1 -9.5 -9.7 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 418.8 521.7 618.5 627.6 676.5 803.3 810.1 914.4 953.8 1142.2 1

 Held by:

 2 Household sector 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.8 61.8 2

 3 Nonfinancial corporate business 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 3

 4 Money market mutual funds 19.7 23.1 23.2 30.1 41.1 80.4 111.1 104.3 67.3 68.1 4

 5 Discrepancy--unallocated assets 358.4 434.9 535.0 529.2 563.3 650.6 634.8 739.6 795.5 958.7 5
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104 Historical Annuals, 1995-2004, March 10, 2016

L.203 Net Interbank Transactions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 146.2 121.2 114.2 108.6 125.3 76.0 44.1 59.0 63.7 52.2 1

 2 Monetary authority 70.2 69.7 75.8 68.4 90.6 63.4 64.8 70.4 71.0 65.6 2

 3 U.S.-chartered depository institutions 24.6 -6.4 6.2 41.1 92.6 141.2 146.3 158.3 197.3 268.0 3

 4 Foreign banking offices in U.S. 77.6 83.2 58.7 33.6 -12.6 -85.1 -105.0 -104.8 -134.4 -212.2 4

 5 Banks in U.S.-affiliated areas -1.6 -1.4 -1.4 -2.0 -2.2 -1.7 -2.8 -2.5 -2.5 -3.5 5

 6 Credit unions -24.5 -23.9 -25.1 -32.5 -43.0 -41.8 -59.2 -62.3 -67.7 -65.7 6

 7 Total assets 202.3 174.7 189.6 186.6 213.9 146.2 119.3 135.4 146.6 113.8 7

 8 Monetary authority 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 8

 9 U.S.-chartered depository institutions 69.3 68.6 72.9 67.4 89.1 62.5 63.6 68.5 69.3 64.0 9

 10 Foreign banking offices in U.S. 0.8 1.1 2.9 1.0 1.4 0.5 0.6 1.2 0.9 0.7 10

 11 Credit unions 0.0 0.0 0.0 0.0 0.0 0.5 0.5 0.6 0.9 0.8 11

 12 Rest of the world 131.9 100.6 111.0 116.6 123.3 81.7 54.4 64.6 75.9 47.3 12

 13 Discrepancy -56.1 -53.5 -75.4 -78.0 -88.6 -70.1 -75.2 -76.4 -82.9 -61.6 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 14

 15 Asset: U.S.-chartered depository institutions 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 17

 18 Asset: U.S.-chartered depository institutions 28.8 23.4 27.9 25.3 22.6 18.1 16.3 20.7 21.3 22.5 18

 19 Foreign banking offices in U.S. 0.8 1.1 2.9 1.0 1.4 0.5 0.6 1.2 0.9 0.7 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.5 0.5 0.6 0.9 0.8 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 21

 22 Asset: Monetary authority 0.2 4.4 2.8 1.7 -0.0 1.0 0.0 0.5 -0.3 1.0 22

 23 Federal Reserve float 0.1 4.3 0.7 1.6 -0.2 0.9 -0.0 0.4 -0.3 0.9 23

 24 Loans to member banks 0.1 0.1 2.0 0.0 0.2 0.1 0.0 0.0 0.1 0.0 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) 68.7 43.2 72.8 99.0 153.3 196.6 198.6 212.8 254.1 317.9 25

 26 Due to foreign affiliates 143.4 141.1 196.3 219.2 257.4 334.3 348.8 339.2 453.6 491.1 26

 27 - Due from foreign affiliates 74.7 97.9 123.5 120.2 104.2 137.7 150.2 126.4 199.5 173.2 27

 28 Foreign banking offices in U.S. (net) 36.1 40.4 23.3 32.7 -18.4 -105.8 -138.0 -131.7 -163.2 -241.5 28

 29 Due to foreign affiliates 259.5 265.3 322.4 375.6 368.9 335.0 397.3 459.5 414.5 484.8 29

 30 - Due from foreign affiliates 223.4 224.9 299.1 342.8 387.2 440.7 535.3 591.2 577.8 726.4 30

 31 Less: Deposits at foreign banks 12.2 16.7 17.0 49.6 38.9 33.7 26.3 32.7 31.6 44.3 31

 32 U.S.-chartered depository institutions 5.6 10.8 11.8 18.6 17.1 14.5 13.8 23.1 20.8 27.3 32

 33 Foreign banking offices in U.S. 6.6 5.9 5.2 30.9 21.9 19.1 12.6 9.6 10.8 17.0 33

 34 Plus: Loans from foreign banks 39.3 33.7 32.0 34.4 27.3 24.5 20.2 16.2 16.6 15.2 34

 35 U.S.-chartered depository institutions 4.6 3.9 4.0 6.6 6.4 5.8 4.9 3.7 4.3 3.0 35

 36 Foreign banking offices in U.S. 34.7 29.8 28.0 27.8 21.0 18.7 15.3 12.5 12.3 12.2 36

 37 Asset: Rest of the world (1) 131.9 100.6 111.0 116.6 123.3 81.7 54.4 64.6 75.9 47.3 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) -43.4 -47.1 -61.5 -47.5 -49.9 -47.8 -43.5 -35.6 -40.0 -26.5 38

 39 Due to (3): 51.6 41.3 17.6 6.8 27.8 32.3 36.3 34.5 37.1 72.2 39

 40 Foreign banking offices in U.S. 81.6 69.5 66.5 50.3 71.1 59.0 49.5 46.0 49.8 64.6 40

 41 Banks in U.S.-affiliated areas 1.6 1.4 1.4 2.0 2.2 1.7 2.8 2.5 2.5 3.5 41

 42 Credit unions 24.5 23.9 25.1 32.5 43.0 41.8 59.2 62.3 67.7 65.7 42

 43 - Due from: Foreign banking offices in U.S. 95.0 88.4 79.1 54.3 77.8 80.1 79.8 70.1 77.1 98.7 43

 44 Unallocated (2) -56.1 -53.5 -75.4 -78.0 -88.6 -70.1 -75.2 -76.4 -82.9 -61.6 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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Historical Annuals, 1995-2004, March 10, 2016 105

L.204 Checkable Deposits and Currency

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.8 1353.0 1437.4 1522.8 1

 2 Monetary authority 391.2 414.4 444.3 483.3 591.5 556.4 603.8 645.7 683.0 720.8 2

 3 Federal government cash and deposits 6.2 8.0 5.7 6.2 28.5 5.6 7.1 4.8 6.0 6.2 3

 4 Due to government-sponsored enterprises 0.8 0.8 0.8 1.5 1.1 1.2 0.7 1.1 0.6 1.1 4

 5 Deposits due to foreign 0.4 0.2 0.5 0.2 0.1 0.2 0.1 0.1 0.2 0.1 5

 6 Currency outside banks 383.7 405.5 437.3 475.4 561.8 549.3 596.0 639.7 676.2 713.3 6

 7 U.S.-chartered depository institutions 774.2 738.6 712.2 676.9 677.7 594.0 681.7 628.0 666.4 705.7 7

 8 Federal government deposits 19.0 28.7 27.8 13.2 49.6 16.4 47.5 31.1 30.2 26.9 8

 9 Deposits due to foreign 18.1 21.6 26.0 23.2 22.7 25.1 22.6 22.3 1.5 11.2 9

 10 Private domestic deposits 737.1 688.3 658.4 640.5 605.5 552.5 611.6 574.6 634.8 667.5 10

 11 Foreign banking offices in U.S. 8.7 8.0 8.8 8.6 9.1 8.7 9.1 8.4 9.5 8.7 11

 12 Deposits due to foreign 6.0 5.3 5.7 5.4 6.0 5.6 3.2 2.9 2.5 2.0 12

 13 Private domestic deposits 2.7 2.7 3.1 3.2 3.2 3.1 5.8 5.6 7.0 6.7 13

 14 Banks in U.S.-affiliated areas 6.4 6.9 7.3 8.5 8.5 8.4 11.5 10.4 11.9 13.5 14

 15 Credit unions 30.9 32.5 36.6 43.0 45.4 51.3 54.7 60.5 66.5 74.1 15

 16 Total assets 1211.4 1200.4 1209.2 1220.3 1332.3 1218.8 1360.8 1353.0 1437.4 1522.8 16

 17 Household sector 586.5 544.8 503.9 528.7 508.9 405.4 480.1 464.1 458.0 399.8 17

 18 Nonfinancial business 326.5 328.0 339.0 329.2 363.9 407.3 354.3 344.7 394.8 504.7 18

 19 Corporate 206.7 189.0 177.7 161.8 191.3 226.4 172.5 160.2 204.2 207.2 19

 20 Noncorporate 119.8 139.0 161.3 167.4 172.6 181.0 181.8 184.5 190.6 297.5 20

 21 Federal government 22.2 38.3 41.6 23.2 87.9 24.3 66.9 47.7 54.3 22.2 21

 22 State and local governments 38.7 33.1 37.5 33.6 37.5 37.7 41.7 46.7 53.7 50.3 22

 23 Domestic financial sectors 47.2 57.8 71.8 78.5 89.4 93.5 158.9 172.6 216.3 243.8 23

 24 Property-casualty insurance companies 4.9 3.9 4.2 4.0 4.3 3.7 13.1 25.9 34.6 25.9 24

 25 Life insurance companies 5.2 4.3 8.1 5.4 5.5 5.0 36.8 35.3 47.3 53.3 25

 26 Private pension funds 4.9 5.5 6.9 6.1 7.4 10.7 9.9 10.2 10.3 10.4 26

 27 State and local govt. retirement funds 4.2 7.5 5.4 10.0 9.3 10.0 11.5 13.0 13.8 12.9 27

 28 Money market mutual funds -3.5 -1.1 1.5 -1.0 -3.3 1.3 5.3 -1.3 -1.8 0.8 28

 29 Government-sponsored enterprises 1.5 0.8 2.1 5.0 12.1 4.4 6.7 14.8 28.8 39.1 29

 30 Finance companies 16.3 19.0 18.6 19.6 21.2 23.7 23.0 25.2 27.1 26.3 30

 31 REITs 0.0 2.2 3.3 4.1 4.4 4.4 5.5 5.4 9.2 12.2 31

 32 Brokers and dealers 13.7 15.7 21.7 25.4 28.7 30.3 47.1 44.2 47.2 62.9 32

 33 Rest of the world 158.5 175.2 202.7 213.2 237.5 236.3 255.1 273.4 262.9 285.3 33

 34 Checkable deposits 24.5 27.1 32.2 28.8 28.7 30.9 25.9 25.3 4.2 13.3 34

 35 Currency 133.9 148.1 170.5 184.4 208.8 205.4 229.2 248.1 258.7 272.0 35

 36 Mail float 31.9 23.1 12.7 13.9 7.1 14.4 3.9 3.6 -2.6 16.7 36
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106 Historical Annuals, 1995-2004, March 10, 2016

L.205 Time and Savings Deposits 

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2964.7 3190.8 3442.2 3659.2 3873.9 4256.5 4610.3 4956.9 5325.2 5880.7 1

 2 Small time and savings deposits 2297.5 2421.1 2550.6 2739.9 2823.7 3054.7 3369.3 3694.7 4002.1 4283.7 2

 3 U.S.-chartered depository institutions 2039.8 2150.8 2262.7 2431.7 2504.3 2721.2 2978.2 3272.7 3549.5 3814.8 3

 4 Foreign banking offices in U.S. 8.5 8.7 13.1 9.4 7.5 7.2 11.6 9.4 10.2 9.5 4

 5 Banks in U.S.-affiliated areas 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 5

 6 Credit unions 238.9 251.2 264.4 287.5 299.8 312.7 361.3 396.4 424.9 440.4 6

 7 Large time deposits (1) 667.2 769.7 891.7 919.4 1050.2 1201.8 1241.0 1262.3 1323.1 1597.0 7

 8 U.S.-chartered depository institutions 359.0 413.1 489.8 539.7 614.4 731.1 726.4 786.4 825.8 1013.8 8

 9 Foreign banking offices in U.S. 289.0 334.8 377.1 349.8 402.1 432.1 462.4 416.8 426.3 504.2 9

 10 Banks in U.S.-affiliated areas 10.2 10.4 10.4 11.4 12.2 13.6 18.1 16.2 17.5 19.0 10

 11 Credit unions 9.0 11.4 14.4 18.5 21.6 25.1 34.1 42.8 53.6 60.0 11

 12 Total assets 2964.7 3190.8 3442.2 3659.2 3873.9 4256.5 4610.3 4956.9 5325.2 5880.7 12

 13 Household sector 2345.4 2486.9 2623.0 2706.3 2807.9 3071.5 3354.6 3657.9 4015.7 4483.2 13

 14 Nonfinancial business 171.1 204.7 250.1 319.0 416.4 519.9 535.8 560.5 676.6 701.1 14

 15 Corporate 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 15

 16 Noncorporate 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 300.6 16

 17 Federal government 0.9 2.4 3.4 4.7 5.4 6.3 10.5 27.6 2.4 2.4 17

 18 State and local governments 61.7 72.2 77.9 92.6 106.7 117.4 129.3 138.1 158.0 165.9 18

 19 Domestic financial sectors 184.2 223.6 273.4 315.6 320.2 315.0 379.1 352.5 304.7 325.2 19

 20 Private pension funds 110.0 118.8 129.8 159.5 120.3 97.4 61.0 57.1 60.1 55.4 20

 21 State and local govt. retirement funds 4.7 2.6 2.9 2.6 2.2 2.0 2.2 2.2 1.9 6.1 21

 22 Money market mutual funds 52.3 82.7 111.3 123.9 155.4 157.3 242.0 219.4 161.3 177.3 22

 23 Government-sponsored enterprises 0.0 0.0 6.4 4.7 10.0 22.2 30.3 25.3 16.7 23.3 23

 24 Finance companies 16.3 19.0 22.7 24.0 31.7 35.6 42.8 46.8 63.2 61.3 24

 25 Holding companies 0.8 0.5 0.3 0.9 0.6 0.6 0.7 1.7 1.6 1.8 25

 26 Rest of the world 201.3 201.1 214.4 221.0 217.4 226.4 200.9 220.3 167.8 202.9 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Total assets 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 1

 2 Household sector 472.4 500.9 571.3 667.4 769.5 937.3 1101.0 1068.4 954.5 898.5 2

 3 Nonfinancial corporate business 60.0 94.6 118.8 161.7 196.8 213.9 314.1 319.7 289.3 299.6 3

 4 Nonfinancial noncorporate business 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 66.5 4

 5 State and local governments 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 63.5 76.4 5

 6 Property-casualty insurance companies 13.1 12.4 12.3 14.9 9.9 13.4 10.3 15.3 14.3 13.4 6

 7 Life insurance companies 9.1 9.2 9.3 9.5 9.6 9.8 9.9 12.3 12.6 17.2 7

 8 Private pension funds 37.9 49.1 62.5 64.8 76.9 81.1 75.1 84.5 84.3 84.9 8

 9 State and local govt. retirement funds 5.9 7.6 9.6 9.9 11.8 13.2 15.4 15.5 13.4 19.7 9

 10 Funding corporations 110.1 175.7 213.4 309.1 400.5 429.0 583.5 565.0 490.0 368.9 10

 11 Rest of the world 5.1 5.8 6.6 7.3 8.1 11.2 15.1 16.3 18.8 22.9 11
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Historical Annuals, 1995-2004, March 10, 2016 107

L.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1271.4 1352.4 1597.2 1591.9 1655.0 1883.3 2214.1 2504.0 2778.2 3288.3 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 25.7 30.8 2

 3 U.S.-chartered depository institutions 376.1 366.6 414.9 469.6 497.7 514.2 538.4 582.2 575.7 612.5 3

 4 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 4

 5 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 5

 6 Foreign banking offices in U.S. 56.6 73.1 93.8 115.2 96.3 156.1 143.7 191.6 207.9 210.4 6

 7 Federal funds (2) ND ND ND ND ND ND ND ND 57.5 57.8 7

 8 Security repurchase agreements ND ND ND ND ND ND ND ND 150.4 152.6 8

 9 Credit unions 0.0 0.0 1.3 0.3 1.3 0.4 1.6 0.6 3.1 2.9 9

 10 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 0.9 2.1 1.2 10

 11 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 13.9 14.7 13.5 11

 12 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.8 1.7 6.4 5.2 12

 13 REITs 10.9 13.7 24.9 15.1 14.9 12.4 21.6 36.2 41.6 70.3 13

 14 Brokers and dealers 827.5 898.1 1060.9 985.5 1037.5 1194.4 1362.2 1487.5 1653.1 1950.6 14

 15 Holding companies 0.3 0.8 1.3 6.1 7.4 5.8 4.9 6.6 8.1 2.9 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 138.0 161.6 239.9 388.1 16

 17 Total assets 1339.8 1444.2 1634.9 1630.0 1765.1 1869.1 2095.4 2286.2 2593.2 3091.8 17

 18 Nonfinancial corporate business 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 18

 19 State and local governments 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 117.2 124.4 19

 20 Monetary authority 13.9 21.6 23.8 30.4 140.6 43.4 50.3 39.5 43.8 33.0 20

 21 U.S.-chartered depository institutions 196.3 174.5 187.9 245.9 198.2 240.7 278.7 284.4 291.3 327.1 21

 22 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 22

 23 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 23

 24 Foreign banking offices in U.S. 47.3 47.7 66.4 74.1 61.6 107.1 96.0 114.2 142.2 130.4 24

 25 Federal funds (2) ND ND ND ND ND ND ND ND 30.5 23.0 25

 26 Security repurchase agreements ND ND ND ND ND ND ND ND 111.8 107.5 26

 27 Credit unions 6.4 1.4 3.5 6.8 9.3 4.0 2.5 2.3 2.9 4.5 27

 28 Federal funds ND ND ND ND ND ND ND ND ND ND 28

 29 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 29

 30 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.7 2.7 3.2 2.0 30

 31 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 1.3 4.7 2.2 3.6 31

 32 Private pension funds 22.4 27.3 28.5 29.7 31.6 26.5 17.7 19.0 20.5 21.0 32

 33 State and local govt. retirement funds 31.5 28.2 28.6 37.5 40.4 39.8 34.0 27.1 23.4 15.8 33

 34 Money market mutual funds 87.8 103.8 126.6 138.8 140.5 183.6 234.0 278.4 252.2 233.8 34

 35 Mutual funds 50.2 47.5 57.8 70.9 80.8 99.6 70.7 81.6 94.5 112.6 35

 36 Government-sponsored enterprises 106.3 94.5 90.4 77.0 89.7 80.6 105.5 98.3 78.8 96.3 36

 37 Of which: FHLB federal funds (3) 0.0 0.0 0.0 0.0 0.0 55.3 48.4 46.7 36.7 54.6 37

 38 Brokers and dealers 591.2 674.3 773.2 681.3 726.7 798.5 910.0 1016.8 1036.0 1314.9 38

 39 Holding companies 0.8 0.9 1.5 5.8 6.9 7.0 6.1 5.5 6.0 2.1 39

 40 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world 67.6 70.9 90.8 72.0 79.9 91.3 151.1 190.1 473.2 663.7 41

 42 Discrepancy -68.4 -91.9 -37.7 -38.1 -110.1 14.2 118.7 217.7 185.0 196.5 42

 Memo:

 43 Effective federal funds rate (percent) (4) 5.60 5.29 5.50 4.68 5.30 6.40 1.82 1.24 0.98 2.16 43

 Federal Reserve’s reverse repurchase agreement operations: (5)

 44 Liability: Monetary authority (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Asset: Money market mutual funds (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 Other financial institutions (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

(1) Detailed data on federal funds and security repurchase agreements are only available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 2010:Q4 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) The effective federal funds rate is a weighted average of rates on brokered trades. Annualized using a 360-day year.

(5) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(6) Included in line 2.

(7) Included in line 34.

(8) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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108 Historical Annuals, 1995-2004, March 10, 2016

L.208 Debt Securities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 By instrument

 1 Total debt securities 11573.9 12398.7 13215.1 14441.2 15603.0 16354.8 17664.6 19120.2 20777.9 23094.0 1

 2 Open market paper 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 2

 3 Treasury securities 4114.9 4316.5 4380.0 4366.6 4336.7 4062.7 4118.5 4400.1 4823.2 5226.6 3

 4 Agency- and GSE-backed securities 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5969.4 6084.5 4

 5 Municipal securities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 5

 6 Corporate and foreign bonds 3084.6 3381.9 3687.9 4176.4 4490.7 4850.4 5479.6 6046.2 6792.0 7562.6 6

 By sector

 7 Total liabilities 11573.9 12398.7 13215.1 14441.2 15603.0 16354.8 17664.6 19120.2 20777.9 23094.0 7

 8 Domestic nonfinancial sectors 7062.7 7343.0 7603.0 7907.7 8176.2 8124.1 8494.8 8960.6 9555.1 10881.7 8

 9 Household sector (nonprofits) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 9

 10 Nonfinancial corporate business 1786.2 1876.1 2020.0 2257.7 2507.0 2707.6 2903.8 2931.1 2970.6 2995.1 10

 11 Federal government 4143.1 4343.1 4406.5 4395.1 4365.0 4090.0 4145.2 4427.3 4848.0 5250.9 11

 12 State and local governments 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 12

 13 Domestic financial sectors 4023.1 4488.6 4978.9 5859.0 6779.7 7527.4 8465.8 9340.3 10200.2 11058.4 13

 14 U.S.-chartered depository institutions 58.6 67.6 78.1 83.9 85.1 98.6 102.0 101.5 107.8 120.2 14

 15 Foreign banking offices in U.S. 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 15

 16 Government-sponsored enterprises 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 16

 17 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 17

 18 ABS issuers 666.4 781.0 918.4 1177.2 1333.5 1513.1 1757.1 2014.6 2265.0 2742.0 18

 19 Finance companies 468.6 514.8 544.1 599.0 660.7 743.3 733.7 783.1 888.4 992.7 19

 20 REITs 15.5 16.8 31.7 53.6 61.7 64.6 69.2 83.3 107.1 183.8 20

 21 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 21

 22 Holding companies 148.0 150.0 168.6 193.5 219.3 242.5 266.1 286.4 321.8 381.3 22

 23 Funding corporations 248.6 312.4 372.6 412.6 504.2 502.6 531.9 521.2 518.1 515.1 23

 24 Rest of the world 488.1 567.1 633.2 674.4 647.1 703.3 704.0 819.3 1022.6 1153.9 24

 25 Total assets: 11573.9 12398.7 13215.1 14441.2 15603.0 16354.8 17664.6 19120.2 20777.9 23094.0 25

 26 Domestic nonfinancial sectors 2963.0 3070.8 2969.6 3109.0 3318.5 3292.2 3163.3 3286.3 3491.8 4515.9 26

 27 Household sector 2274.9 2414.3 2352.2 2381.5 2489.5 2369.6 2141.6 2151.9 2322.8 3226.6 27

 28 Nonfinancial corporate business 137.4 138.1 98.3 99.4 104.4 123.2 123.9 145.2 156.0 172.2 28

 29 Nonfinancial noncorporate business 25.8 31.2 35.4 40.8 39.9 42.6 46.3 46.2 47.6 54.5 29

 30 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 State and local governments 524.8 487.2 483.7 587.3 684.7 756.7 851.5 943.0 965.4 1062.5 31

 32 Domestic financial sectors 7268.3 7658.3 8353.2 9272.4 10207.1 10728.0 11766.3 12636.2 13613.7 14128.6 32

 33 Monetary authority 380.8 393.1 431.4 452.5 478.1 511.8 551.7 629.4 666.7 717.8 33

 34 U.S.-chartered depository institutions 1058.9 1016.8 1077.0 1168.3 1266.5 1292.4 1404.3 1565.1 1728.2 1788.1 34

 35 Foreign banking offices in U.S. 139.4 173.7 202.5 202.6 212.5 220.0 241.5 264.2 250.7 267.8 35

 36 Banks in U.S.-affiliated areas 10.5 9.2 11.5 15.2 17.4 21.1 23.3 27.3 33.4 39.1 36

 37 Credit unions 64.6 68.4 66.9 71.9 72.8 70.4 90.4 110.2 128.1 127.8 37

 38 Property-casualty insurance companies 490.3 511.8 536.0 546.9 534.6 532.7 534.7 582.7 658.4 744.0 38

 39 Life insurance companies 1275.4 1345.3 1436.4 1504.5 1549.8 1598.6 1716.3 1935.9 2103.6 2252.9 39

 40 Private pension funds 597.6 589.1 632.4 623.6 725.7 602.5 567.6 560.2 632.3 631.9 40

 41 Federal government retirement funds 521.0 587.5 629.7 673.7 717.4 740.4 810.8 848.5 880.1 926.1 41

 42 State and local govt. retirement funds 496.2 525.5 587.1 648.6 695.6 732.6 683.6 635.8 654.3 681.3 42

 43 Money market mutual funds 545.5 634.3 721.9 970.8 1156.4 1325.8 1594.3 1564.8 1491.0 1346.3 43

 44 Mutual funds 761.1 809.2 886.7 1011.3 1056.8 1078.9 1212.6 1350.6 1488.7 1593.8 44

 45 Closed-end funds 94.5 97.4 96.3 101.2 110.8 105.3 108.5 117.1 152.5 163.2 45

 46 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.7 4.5 8.2 46

 47 Government-sponsored enterprises 312.1 360.7 434.5 651.9 830.6 1015.6 1256.4 1414.3 1376.2 1364.6 47

 48 ABS issuers 127.6 123.0 101.2 126.4 167.8 176.8 210.2 285.0 368.7 357.4 48

 49 Finance companies 95.3 110.8 120.5 127.6 154.6 173.4 192.4 210.5 263.8 256.0 49

 50 REITs 11.9 16.5 27.7 19.2 20.5 21.3 30.1 42.1 47.8 80.7 50

 51 Brokers and dealers 180.9 163.8 175.2 182.6 147.9 214.7 305.8 335.5 415.0 380.7 51

 52 Holding companies 15.8 19.5 25.0 22.3 30.1 18.8 22.7 24.9 28.6 31.0 52

 53 Funding corporations 89.2 102.5 153.5 151.2 261.1 275.0 209.4 128.3 241.1 369.9 53

 54 Rest of the world 1342.7 1669.6 1892.4 2059.7 2077.3 2334.5 2735.0 3197.8 3672.4 4449.6 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.
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Historical Annuals, 1995-2004, March 10, 2016 109

L.209 Open Market Paper

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total outstanding, all types 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 1

 2 Commercial paper 677.7 779.4 958.5 1161.0 1393.8 1606.1 1469.2 1370.3 1288.6 1395.0 2

 3 Nonfinancial corporate business 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 3

 4 Foreign issues in U.S. 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 276.1 345.3 4

 5 Nonfinancial 20.6 18.7 20.0 18.5 26.7 37.6 19.5 19.3 15.5 13.3 5

 6 Financial 35.6 48.8 45.0 54.4 62.5 83.3 178.9 237.9 260.6 332.0 6

 7 Financial business 464.2 555.5 724.8 895.2 1074.3 1206.7 1093.0 993.3 930.0 951.9 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 101.2 146.7 256.1 381.8 520.8 645.8 607.8 566.1 530.0 526.1 9

 10 Finance companies 168.6 178.0 202.6 233.3 230.4 240.1 162.4 147.8 145.1 175.3 10

 11 REITs 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 30.1 32.0 37.6 45.4 54.5 55.7 50.6 48.3 42.3 53.1 12

 13 Funding corporations 164.2 198.8 228.5 234.4 268.6 265.1 272.2 231.1 212.5 197.4 13

 14 Bankers’ acceptances (1) 22.6 23.6 20.9 11.5 8.6 7.9 4.8 4.6 4.4 4.1 14

 15 U.S.-chartered depository institutions 12.3 14.0 13.7 9.1 6.6 6.0 3.7 3.9 3.8 3.4 15

 16 Foreign banking offices in U.S. 10.4 9.6 7.2 2.4 2.0 2.0 1.1 0.7 0.6 0.7 16

 17 Holdings, by sector 700.4 803.0 979.4 1172.6 1402.4 1614.0 1474.0 1374.9 1292.9 1399.1 17

 18 Household sector 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 18

 19 Nonfinancial corporate business 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 19

 20 State and local governments 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 150.6 153.6 20

 21 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S.-chartered depository institutions (1) 4.1 4.5 2.3 0.8 0.7 0.9 0.0 0.0 0.0 0.0 22

 23 Foreign banking offices in U.S. (1) 1.7 2.3 0.4 0.3 0.6 0.6 0.0 0.0 0.0 0.0 23

 24 Credit unions 0.6 0.3 0.2 0.4 1.9 1.2 2.4 1.5 0.7 0.8 24

 25 Property-casualty insurance companies 18.8 17.7 17.6 21.3 14.1 19.1 12.7 15.7 13.7 12.3 25

 26 Life insurance companies 45.5 48.4 65.9 73.4 75.8 71.2 51.7 55.7 37.9 27.4 26

 27 Private pension funds 23.6 29.0 30.3 32.4 36.6 31.9 23.9 25.9 24.2 24.6 27

 28 State and local govt. retirement funds 32.7 30.1 31.7 42.2 47.6 52.5 56.1 55.8 46.8 38.0 28

 29 Money market mutual funds 235.5 273.9 336.0 415.1 525.3 627.7 642.0 604.6 470.9 405.0 29

 30 Mutual funds 50.2 47.2 57.8 70.9 80.8 99.6 70.7 63.1 76.2 94.2 30

 31 Government-sponsored enterprises 25.5 35.1 27.6 56.2 23.9 31.1 33.8 10.4 6.7 5.8 31

 32 Brokers and dealers 22.1 23.7 24.3 28.0 26.0 39.2 48.2 43.5 49.4 48.0 32

 33 Funding corporations 65.5 66.0 120.3 113.6 227.3 250.1 138.6 71.9 129.8 273.0 33

 34 Rest of the world 43.4 57.9 77.8 111.4 105.0 114.3 108.4 128.5 133.1 137.7 34

(1) Excludes banks’ holdings of own acceptances.
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110 Historical Annuals, 1995-2004, March 10, 2016

L.210 Treasury Securities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 4114.9 4316.5 4380.0 4366.6 4336.7 4062.7 4118.5 4400.1 4823.2 5226.6 1

 2 Marketable Treasury securities 3247.8 3387.1 3388.0 3292.0 3221.1 2944.8 2940.8 3181.7 3553.8 3919.9 2

 3 Treasury bills 760.7 777.4 715.4 691.0 737.1 646.9 811.2 888.7 928.8 1001.2 3

 4 Other Treasury notes, bonds, and TIPS 2472.1 2594.7 2657.6 2586.1 2469.0 2282.9 2114.6 2278.0 2610.1 2904.7 4

 5 Held in the Civil Service Retirement Fund (2) 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0 14.0 5

 6 Nonmarketable Treasury securities 867.0 929.4 991.9 1074.5 1115.6 1117.9 1177.7 1218.3 1269.3 1306.7 6

 7 U.S. savings securities 185.0 187.0 186.5 186.6 186.4 184.8 190.4 194.9 203.9 204.5 7

 8 State and local government series (SLGS) 104.5 101.3 124.1 165.3 165.7 151.0 146.3 153.4 149.2 160.7 8

 9 Thrift Savings Plan G Fund 12.8 24.0 25.7 27.9 30.6 32.5 38.7 46.8 51.2 56.7 9

 10 Federal govt. defined benefit pension plans 491.3 546.4 586.7 627.9 669.0 689.9 750.8 775.3 800.0 841.9 10

 11 Other nonmarketable securities 73.5 70.7 69.0 66.8 63.8 59.7 51.6 47.9 65.2 43.0 11

 12 Total assets 4114.9 4316.5 4380.0 4366.6 4336.7 4062.7 4118.5 4400.1 4823.2 5226.6 12

 13 Household sector 836.6 888.4 797.0 732.0 809.5 578.2 434.2 269.9 417.5 473.6 13

 14 U.S. savings securities (line 7) 185.0 187.0 186.5 186.6 186.4 184.8 190.4 194.9 203.9 204.5 14

 15 Other Treasury securities 651.6 701.4 610.5 545.4 623.0 393.4 243.9 75.0 213.6 269.2 15

 16 Nonfinancial corporate business 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 33.7 34.0 16

 17 Nonfinancial noncorporate business 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 17

 18 State and local governments 289.8 257.0 239.3 280.8 304.5 310.0 328.4 354.7 361.7 405.2 18

 19 SLGS (line 8) 104.5 101.3 124.1 165.3 165.7 151.0 146.3 153.4 149.2 160.7 19

 20 Other Treasury securities 185.3 155.7 115.2 115.5 138.8 159.0 182.2 201.3 212.5 244.5 20

 21 Monetary authority 378.2 390.9 430.7 452.1 478.0 511.7 551.7 629.4 666.7 717.8 21

 22 Treasury bills 183.1 190.6 197.1 194.8 176.5 178.7 182.1 226.7 244.8 263.0 22

 23 Other Treasury securities 195.1 200.3 233.6 257.4 301.4 333.0 369.6 402.7 421.8 454.8 23

 24 U.S.-chartered depository institutions 226.0 190.3 181.4 135.0 133.0 96.6 67.8 95.6 105.7 82.6 24

 25 Foreign banking offices in U.S. 62.3 80.7 95.1 84.8 94.5 94.0 103.8 116.7 33.4 27.7 25

 26 Banks in U.S.-affiliated areas 5.4 4.1 4.2 3.6 2.8 1.8 1.2 1.5 2.5 3.8 26

 27 Credit unions 18.3 17.4 15.6 13.1 9.6 8.2 7.4 7.5 8.8 8.9 27

 28 Property-casualty insurance companies 139.1 126.2 96.4 76.8 64.9 57.8 57.5 72.0 86.2 106.6 28

 29 Treasury bills 5.6 5.3 5.3 6.4 4.2 5.7 5.4 10.7 21.6 35.3 29

 30 Other Treasury securities 133.4 120.9 91.1 70.4 60.6 52.1 52.0 61.2 64.7 71.3 30

 31 Life insurance companies 108.1 93.2 85.5 71.3 62.8 58.1 58.0 89.3 80.2 81.9 31

 32 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 4.3 10.9 8.4 3.4 32

 33 Other Treasury securities 108.1 93.2 85.5 71.3 62.8 58.1 53.7 78.5 71.8 78.5 33

 34 Private pension funds 120.5 115.4 117.4 104.0 120.8 111.2 104.2 101.1 114.9 110.4 34

 35 Defined benefit plans 79.7 74.7 77.9 57.2 75.9 64.2 63.9 51.2 65.5 58.6 35

 36 Defined contribution plans 40.7 40.7 39.5 46.7 44.9 47.0 40.4 49.9 49.3 51.9 36

 37 Federal government retirement funds 519.9 586.3 628.4 672.0 715.8 738.7 806.5 840.8 870.8 916.4 37

 38 Defined benefit plans 506.3 561.4 601.7 642.9 684.0 704.9 765.8 791.5 817.4 857.7 38

 39 Defined contribution plans 13.6 24.9 26.7 29.1 31.8 33.7 40.8 49.4 53.4 58.7 39

 40 State and local govt. retirement funds 208.5 213.4 219.9 213.8 200.0 179.7 156.7 163.0 151.8 152.7 40

 41 Defined benefit plans 208.2 212.8 219.0 212.6 198.8 179.1 155.1 158.9 148.6 148.7 41

 42 Defined contribution plans 0.3 0.6 0.9 1.3 1.1 0.7 1.6 4.1 3.2 4.0 42

 43 Money market mutual funds 70.0 90.2 86.2 107.9 103.8 91.9 139.2 142.5 131.9 102.8 43

 44 Treasury bills 42.3 42.2 41.0 47.1 58.6 54.7 93.5 109.8 99.0 83.2 44

 45 Other Treasury securities 27.7 48.0 45.2 60.7 45.2 37.2 45.7 32.8 33.0 19.6 45

 46 Mutual funds 143.8 125.8 136.4 141.0 117.3 127.4 115.5 126.5 136.4 148.9 46

 47 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 Other Treasury securities 143.8 125.8 136.4 141.0 117.3 127.4 115.5 126.5 136.4 148.9 48

 49 Closed-end funds 11.1 11.2 9.8 8.8 7.6 6.7 6.7 3.9 4.6 6.8 49

 50 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.1 4.9 50

 51 Government-sponsored enterprises 58.0 18.8 25.9 25.2 30.9 13.3 13.6 25.7 13.5 12.9 51

 52 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.8 2.1 7.6 52

 53 Brokers and dealers 18.3 -12.8 -5.3 15.8 -42.6 -3.3 9.8 -3.9 37.8 -44.6 53

 54 Holding companies 3.4 4.0 4.0 0.9 8.8 0.8 1.2 1.3 2.7 2.0 54

 55 Rest of the world 816.9 1040.3 1153.2 1166.2 1058.4 1021.4 1095.2 1285.5 1513.5 1813.6 55

 56 Treasury bills 197.4 236.9 193.2 183.5 185.7 177.8 218.2 268.9 290.9 323.7 56

 57 Other Treasury securities 619.6 803.5 960.0 982.8 872.7 843.6 877.0 1016.6 1222.6 1489.9 57

(1) Includes marketable and nonmarketable Treasury securities held by the public (net of premiums and discounts) and Treasury securities held by federal government employee retirement funds.

 In the Financial Accounts, nonmarketable government securities held by federal government employee defined benefit retirement funds are considered part of the financial business sector as

 opposed to intragovernmental holdings as reported on the Monthly Statement of the Public Debt.

(2) Long-term marketable securities issued to the Civil Service Retirement Fund by the Federal Financing Bank. These securities are not currently traded in the market.
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Historical Annuals, 1995-2004, March 10, 2016 111

L.211 Agency- and GSE-Backed Securities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5969.4 6084.5 1

 2 Budget agencies 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 2

 3 Government-sponsored enterprises 807.0 897.4 996.5 1275.4 1594.2 1826.4 2130.6 2350.4 2601.3 2676.3 3

 4 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 4

 5 Total assets 2406.0 2635.8 2849.3 3322.9 3916.0 4347.0 4989.1 5536.3 5969.4 6084.5 5

 6 Household sector 216.3 332.6 390.3 441.5 540.5 587.9 385.0 241.5 376.7 443.8 6

 7 Nonfinancial corporate business 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 340.6 378.0 9

 10 Monetary authority 2.6 2.2 0.7 0.3 0.2 0.1 0.0 0.0 0.0 0.0 10

 11 U.S.-chartered depository institutions 586.0 592.8 652.4 722.6 755.4 766.9 861.7 997.5 1105.2 1132.5 11

 12 Foreign banking offices in U.S. 37.3 49.7 62.2 67.4 72.4 72.7 50.7 61.6 53.3 51.8 12

 13 Banks in U.S.-affiliated areas 4.0 4.3 6.3 10.2 13.5 17.8 20.3 24.2 28.9 33.6 13

 14 Credit unions 45.7 50.7 51.0 58.4 61.3 60.9 80.6 79.1 94.3 93.1 14

 15 Property-casualty insurance companies 48.2 51.0 70.8 69.7 75.5 84.1 94.2 113.2 115.4 112.1 15

 16 Life insurance companies 242.9 244.1 226.7 217.0 224.4 235.4 253.5 330.9 348.9 357.1 16

 17 Private pension funds 212.9 201.2 207.3 189.6 227.7 195.4 198.3 180.3 219.2 230.4 17

 18 Federal government retirement funds 0.6 0.7 0.7 1.0 0.9 1.0 2.6 4.8 5.7 5.8 18

 19 State and local govt. retirement funds 63.4 69.3 87.9 107.8 133.0 181.9 187.4 196.9 241.9 238.6 19

 20 Money market mutual funds 90.8 101.8 96.3 172.4 191.0 187.7 343.4 324.4 332.1 270.0 20

 21 Mutual funds 171.3 204.4 213.3 234.9 271.1 283.7 370.4 430.8 455.2 462.6 21

 22 Government-sponsored enterprises 190.8 256.6 324.2 482.7 655.6 810.9 1017.8 1149.5 1088.9 886.5 22

 23 ABS issuers 127.6 123.0 101.2 126.4 167.8 176.6 210.2 284.2 366.6 349.8 23

 24 REITs 9.0 12.2 21.2 13.1 11.4 12.0 20.3 31.8 28.9 44.7 24

 25 Brokers and dealers 54.0 55.2 50.4 50.9 66.0 63.7 77.8 91.8 83.7 107.3 25

 26 Holding companies 4.7 4.9 5.5 6.6 5.4 4.8 6.2 10.7 11.6 13.5 26

 27 Rest of the world 123.1 134.4 157.3 185.6 232.3 348.2 504.1 637.5 661.1 861.7 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown on table L.106, line 20.
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112 Historical Annuals, 1995-2004, March 10, 2016

L.212 Municipal Securities

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 1

 2 State and local governments 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 2

 3 Short-term (1) 34.4 40.7 49.0 42.7 45.3 46.6 70.5 95.7 106.1 44.2 3

 4 Long-term 1002.6 980.7 1018.0 1090.9 1127.2 1142.4 1223.9 1342.6 1452.7 2393.9 4

 5 Nonprofit organizations (2) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 5

 6 Nonfinancial corporate business 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 6

 (industrial revenue bonds)

 7 Total assets 1268.2 1261.6 1318.5 1402.7 1457.1 1480.7 1603.4 1762.8 1900.4 2821.2 7

 8 Household sector 533.4 493.0 497.6 498.4 526.9 531.5 587.9 671.5 687.2 1522.9 8

 9 Nonfinancial corporate business 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 9

 10 Nonfinancial noncorporate business 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 10

 11 State and local governments 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.5 5.7 11

 12 U.S.-chartered depository institutions 94.7 95.8 98.3 106.9 113.2 116.6 124.5 127.0 138.8 147.8 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 0.7 0.5 0.5 0.5 0.6 0.7 0.5 0.5 0.6 0.3 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 161.0 175.4 191.6 208.1 199.0 184.1 173.8 183.0 224.2 267.8 16

 17 Life insurance companies 11.9 13.4 16.7 18.4 20.1 19.1 18.7 19.9 26.1 30.1 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 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 2.5 19

 20 Money market mutual funds 127.7 144.5 167.0 193.1 211.5 242.2 269.5 285.8 308.9 322.3 20

 21 Mutual funds 210.2 213.3 219.8 242.6 239.4 230.4 253.0 276.8 289.7 293.8 21

 22 Closed-end funds 58.2 59.1 59.4 60.7 69.7 67.7 74.7 86.0 89.2 89.1 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 7.8 12.1 12.7 19.2 22.7 29.2 35.4 39.4 44.4 44.6 24

 25 Brokers and dealers 12.7 10.8 13.2 13.1 11.9 11.3 19.0 21.0 24.9 32.0 25

 26 Rest of the world 4.0 4.9 5.9 6.8 7.8 8.0 8.0 11.5 19.5 26.0 26

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

(2) Liability of the households and nonprofit organizations sector (tables F.101 and L.101).
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Historical Annuals, 1995-2004, March 10, 2016 113

L.213 Corporate and Foreign Bonds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 3084.6 3381.9 3687.9 4176.4 4490.7 4850.4 5479.6 6046.2 6792.0 7562.6 1

 2 Nonfinancial corporate business 1494.1 1581.9 1709.4 1916.9 2123.8 2275.0 2568.4 2650.7 2724.2 2711.9 2

 3 Domestic financial sectors 1158.5 1300.4 1410.3 1657.9 1809.0 1993.0 2405.7 2833.5 3321.4 4042.1 3

 4 U.S.-chartered depository institutions 46.3 53.6 64.5 74.7 78.5 92.6 98.3 97.5 104.0 116.9 4

 5 ABS issuers (net) (1) 565.1 634.3 662.2 795.4 812.8 867.3 1149.3 1448.5 1735.0 2215.9 5

 6 Finance companies 300.0 336.8 341.5 365.6 430.3 503.3 571.3 635.3 743.2 817.4 6

 7 REITs 15.5 16.8 31.6 53.4 61.7 64.6 69.2 83.3 107.1 183.8 7

 8 Brokers and dealers 29.3 27.3 35.3 42.5 25.3 40.9 42.3 40.6 47.0 62.2 8

 9 Holding companies 117.9 118.0 131.0 148.1 164.8 186.8 215.5 238.1 279.5 328.2 9

 10 Funding corporations 84.4 113.6 144.2 178.2 235.5 237.5 259.7 290.1 305.5 317.7 10

 11 Rest of the world (2) 431.9 499.6 568.2 601.6 557.9 582.4 505.5 562.1 746.5 808.6 11

 12 Total assets (3) 3084.6 3381.9 3687.9 4176.4 4490.7 4850.4 5479.6 6046.2 6792.0 7562.6 12

 13 Household sector 616.9 624.5 590.1 629.5 527.8 574.7 646.3 886.8 764.1 702.6 13

 14 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 State and local governments 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 108.0 120.1 15

 16 U.S.-chartered depository institutions 148.0 133.3 142.6 203.0 264.2 311.4 350.3 345.0 378.5 425.1 16

 17 MBS and other ABS 54.1 47.0 40.5 59.9 71.6 79.6 97.8 89.9 121.2 175.6 17

 18 Other 93.9 86.4 102.1 143.1 192.6 231.8 252.5 255.1 257.3 249.5 18

 19 Foreign banking offices in U.S. 38.0 41.0 44.9 50.1 45.0 52.7 86.9 86.0 164.0 188.2 19

 20 Banks in U.S.-affiliated areas 0.4 0.3 0.4 1.0 0.5 0.8 1.4 1.1 1.4 1.3 20

 21 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 24.3 25.0 21

 22 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22.1 24.3 25.0 23

 24 Property-casualty insurance companies 123.3 141.6 159.5 171.1 181.1 187.5 196.4 198.9 218.9 245.3 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 123.3 141.6 159.5 171.1 181.1 187.5 196.4 198.9 218.9 245.3 26

 27 Life insurance companies 867.0 946.2 1041.7 1124.4 1166.9 1214.8 1334.3 1440.0 1610.5 1756.3 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 867.0 946.2 1041.7 1124.4 1166.9 1214.8 1334.3 1440.0 1610.5 1756.3 29

 30 Private pension funds 240.7 243.6 277.4 297.6 340.7 264.0 241.2 252.8 274.1 266.5 30

 31 Federal government retirement funds 0.5 0.5 0.6 0.7 0.7 0.7 1.6 2.9 3.7 4.0 31

 32 State and local govt. retirement funds 189.7 212.3 246.1 281.6 312.0 316.7 281.8 219.3 209.4 249.5 32

 33 Money market mutual funds 21.5 23.9 36.4 82.2 124.8 176.4 200.2 207.4 247.3 246.2 33

 34 Mutual funds 185.5 218.5 259.4 322.0 348.2 337.7 402.9 453.5 531.3 594.2 34

 35 Closed-end funds 25.2 27.1 27.1 31.8 33.5 30.9 27.1 27.1 58.8 67.3 35

 36 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 2.4 3.3 36

 37 Government-sponsored enterprises 29.9 38.1 44.1 68.7 97.5 131.1 155.7 189.3 222.8 414.8 37

 38 MBS and other ABS 29.9 38.1 43.9 68.5 97.2 124.1 144.8 182.4 220.5 339.5 38

 39 Other 0.0 0.0 0.2 0.3 0.3 7.0 11.0 6.8 2.3 75.3 39

 40 Finance companies 95.3 110.8 120.5 127.6 154.6 173.4 192.4 210.5 263.8 256.0 40

 41 REITs 2.9 4.3 6.5 6.1 9.2 9.4 9.8 10.4 18.9 36.0 41

 42 Brokers and dealers 73.8 86.9 92.6 74.7 86.6 103.8 151.0 183.1 219.3 238.0 42

 43 Holding companies 7.7 10.5 15.5 14.8 15.9 13.2 15.3 12.9 14.2 15.5 43

 44 Funding corporations 23.8 36.5 33.1 37.6 33.8 24.9 70.8 56.4 111.3 96.8 44

 45 Rest of the world (4) 355.3 432.1 498.2 589.7 673.8 842.6 1019.2 1134.8 1345.2 1610.6 45

 46 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 174.3 231.3 362.2 46

 47 Other 355.3 432.1 498.2 589.7 673.8 842.6 1019.2 960.5 1113.9 1248.5 47

(1) Liabilities net of assets.

(2) Holdings of foreign issues by U.S. residents.

(3) For some sectors, holdings of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately issued asset-backed bonds.

(4) Holdings of U.S. issues by foreign residents.
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114 Historical Annuals, 1995-2004, March 10, 2016

L.214 Loans (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 By instrument

 1 Total loans 7839.0 8427.5 9112.1 10071.1 11141.1 12246.4 13018.2 13865.4 15110.1 16892.2 1

 2 Depository institution loans n.e.c. 1034.4 1119.2 1259.3 1392.6 1481.7 1594.8 1509.0 1410.4 1396.5 1449.3 2

 3 Other loans and advances 1111.4 1228.5 1389.2 1633.2 1895.1 2141.5 2165.4 2096.6 2244.7 2563.8 3

 4 Mortgages 4525.0 4805.9 5119.4 5604.0 6210.7 6768.9 7452.1 8361.3 9365.9 10659.0 4

 5 Home 3445.7 3681.9 3916.5 4273.1 4698.3 5122.1 5675.1 6431.3 7255.3 8292.4 5

 6 Multifamily residential 273.9 286.1 298.0 332.3 372.9 402.2 443.8 483.9 555.9 609.6 6

 7 Commercial 733.8 763.4 826.4 915.6 1052.4 1159.9 1244.6 1350.7 1471.5 1661.4 7

 8 Farm 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 8

 9 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 9

 By sector

 10 Total liabilities 7839.0 8427.5 9112.1 10071.1 11141.1 12246.4 13018.2 13865.4 15110.1 16892.2 10

 11 Domestic nonfinancial sectors 7320.1 7792.2 8369.1 9111.8 10001.1 10937.6 11652.8 12539.5 13640.1 15176.2 11

 12 Household sector 4826.8 5174.3 5510.8 5932.9 6471.4 7057.2 7670.7 8422.0 9477.3 10610.8 12

 13 Nonfinancial corporate business 1309.0 1367.9 1501.3 1642.8 1801.4 1959.3 1897.4 1880.2 1851.6 1999.1 13

 14 Nonfinancial noncorporate business 1174.6 1245.1 1347.0 1526.0 1719.8 1912.3 2075.7 2227.6 2301.5 2556.2 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 State and local governments 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 16

 17 Domestic financial sectors 376.3 481.5 574.6 791.4 983.2 1144.5 1220.0 1189.5 1336.0 1584.8 17

 18 U.S.-chartered depository institutions 134.1 160.9 196.1 285.1 389.2 432.4 455.7 458.4 484.6 553.4 18

 19 Credit unions 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 19

 20 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Life insurance companies 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 21

 22 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Finance companies 31.8 40.3 40.3 46.3 60.1 63.8 84.3 101.1 106.9 136.9 23

 24 REITs 29.1 39.7 64.4 105.2 103.0 103.0 102.1 115.1 123.6 156.3 24

 25 Brokers and dealers 173.2 220.7 253.7 323.4 383.1 493.9 530.4 464.1 549.6 665.4 25

 26 Holding companies 7.3 18.0 17.7 27.7 41.1 45.6 39.4 38.7 54.2 50.4 26

 27 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Rest of the world 142.6 153.8 168.4 167.9 156.8 164.3 145.4 136.4 134.0 131.3 28

 29 Total assets 7839.0 8427.5 9112.1 10071.1 11141.1 12246.4 13018.2 13865.4 15110.1 16892.2 29

 30 Domestic nonfinancial sectors 734.7 767.3 836.3 905.8 981.3 1108.2 1156.6 1111.1 1184.8 1349.1 30

 31 Household sector 259.1 296.1 319.0 387.2 452.3 566.6 614.0 561.8 646.4 773.8 31

 32 Nonfinancial corporate business 143.0 132.1 164.7 146.6 117.3 125.0 119.7 124.4 110.8 125.8 32

 33 Nonfinancial noncorporate business 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 33

 34 Federal government 197.0 201.1 212.5 218.3 255.7 262.6 266.4 274.5 272.0 274.3 34

 35 State and local governments 113.8 117.6 121.3 127.4 131.8 130.5 129.7 124.4 129.3 144.4 35

 36 Domestic financial sectors 6982.2 7534.3 8132.5 9023.1 10040.3 11021.0 11745.9 12628.4 13800.2 15411.9 36

 37 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 U.S.-chartered depository institutions 2921.0 3102.2 3313.1 3557.7 3863.4 4219.1 4338.1 4592.5 4949.0 5558.3 38

 39 Foreign banking offices in U.S. 326.8 358.6 376.8 359.4 324.7 343.2 315.5 286.6 272.3 277.3 39

 40 Banks in U.S.-affiliated areas 22.9 24.9 26.3 28.6 30.9 33.9 41.7 39.0 43.5 51.7 40

 41 Credit unions 198.4 220.1 238.4 252.3 278.9 309.3 330.8 355.2 388.5 428.6 41

 42 Property-casualty insurance companies 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 42

 43 Life insurance companies 312.1 311.7 314.7 323.5 336.2 345.3 355.2 364.4 375.2 391.1 43

 44 Private pension funds 8.6 9.3 10.1 9.9 11.7 11.9 9.8 10.3 10.2 10.0 44

 45 State and local govt. retirement funds 15.9 16.7 17.6 22.4 25.7 22.1 21.0 21.1 20.4 15.0 45

 46 Mutual funds 10.2 11.0 14.4 17.1 19.9 24.3 17.0 17.5 16.4 26.0 46

 47 Government-sponsored enterprises 450.7 473.2 499.7 599.6 708.2 778.8 842.8 908.8 1187.9 1248.4 47

 48 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 48

 49 ABS issuers 484.4 589.2 725.3 952.4 1085.5 1236.9 1426.2 1594.1 1731.1 2190.2 49

 50 Finance companies 559.2 586.3 600.3 685.2 792.0 928.5 978.4 1082.0 1204.9 1419.8 50

 51 REITs 14.1 13.8 22.9 26.3 23.5 17.5 17.9 28.1 48.8 118.4 51

 52 Brokers and dealers 81.1 98.3 138.6 159.5 234.7 244.0 206.6 157.1 191.5 278.3 52

 53 Holding companies 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 53

 54 Funding corporations 0.9 2.4 3.4 4.4 6.8 9.5 9.4 8.2 7.3 7.0 54

 55 Rest of the world 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
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Historical Annuals, 1995-2004, March 10, 2016 115

L.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 1034.4 1119.2 1259.3 1392.6 1481.7 1594.8 1509.0 1410.4 1396.5 1449.3 1

 2 Household sector 50.8 40.7 50.5 42.9 19.3 14.9 -1.2 -25.2 3.2 -16.8 2

 3 Corporate business 631.5 662.3 716.9 797.5 846.1 901.3 796.8 693.4 614.1 618.0 3

 4 Noncorporate business 200.6 229.8 276.6 302.1 351.7 402.1 445.6 469.3 479.7 512.6 4

 5 Domestic financial sectors 71.9 96.8 109.4 138.8 158.9 161.9 168.3 180.2 207.4 242.4 5

 6 Finance companies 31.8 40.3 40.3 46.3 60.1 63.8 84.3 101.1 106.9 136.9 6

 7 REITs 5.0 7.8 17.6 33.6 24.2 19.4 16.4 18.1 17.8 24.9 7

 8 Brokers and dealers 27.8 30.7 33.9 31.1 33.4 33.1 28.3 22.3 28.5 30.2 8

 9 Holding companies 7.3 18.0 17.7 27.7 41.1 45.6 39.4 38.7 54.2 50.4 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world 79.6 89.7 105.9 111.3 105.7 114.5 99.4 92.7 92.2 93.1 11

 12 Foreign official institutions 4.7 5.2 4.4 5.9 6.0 6.2 6.6 6.9 5.9 6.9 12

 13 Foreign banks 11.2 14.5 14.0 13.3 9.9 13.2 20.0 11.3 16.9 20.3 13

 14 Other foreign 63.7 70.0 87.5 92.2 89.8 95.0 72.7 74.4 69.4 65.9 14

 15 Total assets 1034.4 1119.2 1259.3 1392.6 1481.7 1594.8 1509.0 1410.4 1396.5 1449.3 15

 16 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 U.S.-chartered depository institutions 724.2 784.8 896.9 1036.0 1153.8 1247.4 1184.2 1117.8 1114.1 1154.7 17

 18 Foreign banking offices in U.S. 281.6 317.0 343.8 336.8 307.1 324.5 296.7 267.0 254.2 259.7 18

 19 Banks in U.S.-affiliated areas 13.1 14.6 15.5 16.3 16.9 18.0 22.5 18.2 18.5 20.3 19

 20 Credit unions 15.5 2.9 3.1 3.5 3.9 4.9 5.6 7.5 9.7 14.6 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to the household, rest of the world, broker and dealer, and funding corporation sectors. See loan details on table L.109.
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116 Historical Annuals, 1995-2004, March 10, 2016

L.216 Other Loans and Advances

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total other loans and advances 1111.4 1228.5 1389.2 1633.2 1895.1 2141.5 2165.4 2096.6 2244.7 2563.8 1

 2 U.S. government loans 129.4 132.2 138.2 135.9 129.1 126.3 118.6 118.1 116.3 113.3 2

 3 Liab.: Household sector 10.7 20.0 17.6 17.3 17.1 15.9 14.7 13.8 13.1 12.2 3

 4 Nonfinancial corporate business 9.1 8.4 8.8 8.5 8.2 8.3 7.0 8.0 8.8 9.1 4

 5 Nonfinancial noncorporate business 45.1 44.6 49.0 48.1 48.0 46.6 42.4 43.1 43.1 44.1 5

 6 State and local governments 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 6

 7 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 54.9 54.2 52.8 51.9 47.3 46.7 45.5 43.6 41.6 37.9 10

 11 Foreign loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 11

 12 Liab.: Nonfinancial corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 12.3 13.9 13.7 9.1 6.6 5.9 3.6 3.9 3.8 3.3 13

 14 Foreign banking offices in U.S. 10.1 9.4 6.9 2.2 1.6 1.6 1.0 0.6 0.6 0.7 14

 15 Liab.: Nonfinancial corporate business 14.2 13.4 10.8 6.6 4.4 4.3 4.1 4.4 4.2 3.8 15

 16 Rest of the world 8.2 9.9 9.7 4.7 3.9 3.1 0.5 0.2 0.2 0.3 16

 17 Holding company loans 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 17

 18 Liab.: Nonfinancial corporate business 2.3 2.5 2.4 4.1 2.6 1.6 1.9 2.9 7.9 5.3 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) 96.9 101.4 104.6 104.7 100.0 102.8 105.0 106.0 105.2 106.8 20

 21 Asset: Federal government 0.9 1.0 1.0 0.9 0.9 0.9 0.9 0.8 0.8 0.7 21

 22 Life insurance companies 95.9 100.5 103.7 103.8 99.0 101.9 104.1 105.1 104.5 106.1 22

 23 Federal Home Loan Banks advances (1) 132.3 161.4 197.8 288.2 395.7 437.9 463.3 470.5 501.7 575.8 23

 24 Liab.: U.S.-chartered depository institutions 131.4 159.3 195.4 284.6 389.2 432.0 455.2 458.4 484.6 553.4 24

 25 Credit unions 0.4 0.4 0.6 1.1 3.4 3.4 4.9 6.9 9.1 11.4 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 0.5 1.6 1.8 2.5 3.2 2.5 3.1 5.1 8.0 11.1 27

 28 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Real estate investment trusts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Government-sponsored enterprise (GSE) loans (2) 33.7 34.0 32.9 36.0 36.6 39.7 42.6 44.2 44.2 43.6 30

 31 Liab.: Household sector (SLMA) 0.8 0.9 0.7 0.6 0.7 0.4 0.4 0.4 0.3 0.0 31

 32 Nonfinancial corporate business (FCS) 1.3 1.5 1.6 2.0 2.1 2.5 3.1 3.6 4.0 4.5 32

 33 Nonfinancial noncorporate business (FCS) 28.8 30.0 30.0 32.9 33.7 36.4 38.7 40.2 39.8 39.1 33

 34 U.S.-chartered depository inst. (SLMA) 2.7 1.5 0.7 0.5 0.1 0.4 0.4 0.0 0.0 0.0 34

 35 Securitized loans held by ABS issuers 29.6 37.7 62.1 85.9 82.6 89.8 105.6 112.4 111.4 111.4 35

 36 Liab.: Nonfinancial corporate business 29.6 37.7 62.1 85.9 82.6 89.8 105.6 112.4 111.4 111.4 36

 37 Finance company loans to business 301.6 304.7 304.1 340.9 395.1 456.2 440.2 444.0 441.7 451.5 37

 38 Liab.: Nonfinancial corporate business 271.4 274.2 273.7 306.8 355.6 410.6 396.2 399.6 397.6 406.4 38

 39 Nonfinancial noncorporate business 30.2 30.5 30.4 34.1 39.5 45.6 44.0 44.4 44.2 45.2 39

 40 Margin accounts at brokers and dealers 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 40

 41 Liab.: Household sector 78.6 94.4 131.2 152.8 227.9 235.1 196.4 148.2 182.5 264.0 41

 42 Cash accounts at brokers and dealers 145.4 189.9 219.8 292.3 349.7 460.7 502.1 441.9 521.1 635.2 42

 43 Asset: Household sector 145.4 189.9 219.8 292.3 349.7 460.7 502.1 441.9 521.1 635.2 43

 44 Loans to nonfinancial corporate business (3) 17.2 21.0 32.2 38.7 48.1 66.4 69.5 78.2 83.4 121.5 44

 45 Asset: Household sector 0.1 0.1 0.2 0.2 0.6 1.9 2.6 2.8 3.1 5.9 45

 46 Life insurance companies 3.1 3.1 4.2 6.1 6.4 7.4 8.1 9.2 9.8 11.7 46

 47 Mutual funds 10.2 11.0 14.4 17.1 19.9 24.3 17.0 17.5 16.4 26.0 47

 48 ABS issuers 0.4 0.6 2.5 4.4 7.5 14.4 22.2 31.6 37.8 56.7 48

 49 Brokers and dealers 2.6 3.9 7.4 6.7 6.8 8.9 10.3 8.9 9.0 14.2 49

 50 Funding corporations 0.9 2.4 3.4 4.4 6.8 9.5 9.4 8.2 7.3 7.0 50

(1) The Federal Home Loan Banks are included in the governmnet-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 23.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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Historical Annuals, 1995-2004, March 10, 2016 117

L.217 Total Mortgages (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total mortgages 4525.0 4805.9 5119.4 5604.0 6210.7 6768.9 7452.1 8361.3 9365.9 10659.0 1

 2 Home 3445.7 3681.9 3916.5 4273.1 4698.3 5122.1 5675.1 6431.3 7255.3 8292.4 2

 3 Multifamily residential 273.9 286.1 298.0 332.3 372.9 402.2 443.8 483.9 555.9 609.6 3

 4 Commercial 733.8 763.4 826.4 915.6 1052.4 1159.9 1244.6 1350.7 1471.5 1661.4 4

 5 Farm 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 5

 6 Total liabilities 4525.0 4805.9 5119.4 5604.0 6210.7 6768.9 7452.1 8361.3 9365.9 10659.0 6

 7 Household sector 3420.8 3643.0 3862.0 4173.3 4552.8 4946.7 5463.7 6181.9 7070.0 8024.5 7

 8 Nonfinancial business 1080.2 1130.9 1210.6 1359.1 1579.1 1738.6 1902.6 2082.5 2190.1 2503.1 8

 9 Corporate 210.2 220.8 249.5 250.3 332.2 357.1 397.6 451.9 495.3 587.8 9

 10 Noncorporate 869.9 910.1 961.1 1108.8 1246.9 1381.5 1505.0 1630.6 1694.7 1915.3 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 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 12

 13 Total assets 4525.0 4805.9 5119.4 5604.0 6210.7 6768.9 7452.1 8361.3 9365.9 10659.0 13

 14 Household sector 113.6 106.1 99.0 94.7 102.0 104.0 109.2 117.2 122.2 132.6 14

 15 Nonfinancial corporate business 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 15

 16 Nonfinancial noncorporate business 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 16

 17 Federal government 57.5 50.3 45.7 44.9 77.7 75.7 74.5 75.1 72.6 74.2 17

 18 State and local governments 113.8 117.6 121.3 127.4 131.8 130.5 129.7 124.4 129.3 144.4 18

 19 U.S.-chartered depository institutions 1642.1 1731.2 1840.2 1948.3 2133.5 2350.0 2510.8 2799.5 3083.9 3604.7 19

 20 Foreign banking offices in U.S. 35.1 32.2 26.1 20.4 15.9 17.1 17.9 19.0 17.5 16.9 20

 21 Banks in U.S.-affiliated areas 9.7 10.3 10.8 12.3 14.1 15.9 19.2 20.8 25.0 31.4 21

 22 Credit unions 51.0 73.1 83.0 93.3 107.1 119.9 135.7 152.0 172.9 198.6 22

 23 Property-casualty insurance companies 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 23

 24 Life insurance companies 213.1 208.2 206.8 213.6 230.8 235.9 243.0 250.0 260.9 273.3 24

 25 Private pension funds 8.6 9.3 10.1 9.9 11.7 11.9 9.8 10.3 10.2 10.0 25

 26 State and local govt. retirement funds 15.9 16.7 17.6 22.4 25.7 22.1 21.0 21.1 20.4 15.0 26

 27 Government-sponsored enterprises (1) 250.4 244.1 239.4 247.0 242.0 264.3 297.5 357.3 621.5 629.0 27

 28 Agency- and GSE-backed mortgage pools 1570.7 1711.7 1826.3 2019.0 2293.5 2493.2 2831.8 3158.6 3343.3 3384.0 28

 29 ABS issuers 241.3 277.4 340.2 468.2 538.7 604.2 700.6 819.8 987.1 1450.5 29

 30 Finance companies 105.5 126.7 128.6 160.9 195.3 237.9 258.2 330.5 370.2 476.0 30

 31 REITs 14.1 13.8 22.9 26.3 23.5 17.5 17.9 28.1 48.8 118.4 31

(1) Sum of home mortgages, multifamily residential mortgages, commercial mortgages, and farm mortgages.
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118 Historical Annuals, 1995-2004, March 10, 2016

L.218 Home Mortgages (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 3445.7 3681.9 3916.5 4273.1 4698.3 5122.1 5675.1 6431.3 7255.3 8292.4 1

 2 Household sector 3319.2 3537.3 3753.2 4054.7 4431.6 4813.9 5322.0 6028.0 6909.9 7859.5 2

 3 Nonfinancial corporate business 7.2 8.3 8.6 10.0 12.1 14.1 16.2 16.9 18.8 23.5 3

 4 Nonfinancial noncorporate business 119.3 136.3 154.7 208.4 254.6 294.1 336.9 386.4 326.7 409.4 4

 5 Total assets 3445.7 3681.9 3916.5 4273.1 4698.3 5122.1 5675.1 6431.3 7255.3 8292.4 5

 6 Household sector 95.9 87.0 78.1 73.1 80.2 87.3 94.2 100.3 106.3 112.9 6

 7 Nonfinancial corporate business 33.8 24.5 29.8 27.1 20.2 21.4 23.0 24.9 26.1 39.9 7

 8 Nonfinancial noncorporate business 8.2 7.6 7.0 9.7 8.9 8.7 9.9 9.6 9.7 11.3 8

 9 Federal government 24.2 21.2 19.1 18.8 18.4 16.5 15.9 15.0 14.1 13.6 9

 10 State and local governments 60.5 62.8 65.8 65.0 67.2 66.6 66.2 63.4 66.6 74.4 10

 11 U.S.-chartered depository institutions 1127.1 1189.0 1263.9 1327.3 1424.5 1555.6 1641.0 1849.1 2051.0 2440.8 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 5.7 6.3 6.4 7.5 8.1 9.1 8.2 9.7 12.2 15.6 13

 14 Credit unions 51.0 73.1 83.0 93.3 107.1 119.9 135.7 152.0 172.9 198.6 14

 15 Life insurance companies 10.3 8.5 8.7 8.2 8.3 7.5 7.8 6.7 8.4 8.1 15

 16 Private pension funds 4.4 5.0 5.7 5.8 6.6 7.7 4.6 2.8 1.7 1.4 16

 17 State and local govt. retirement funds 4.4 5.0 5.6 7.2 8.2 7.1 6.9 7.6 7.3 5.4 17

 18 Government-sponsored enterprises 209.5 202.9 198.2 203.9 193.5 209.6 231.2 276.8 519.1 508.6 18

 19 Agency- and GSE-backed mortgage pools 1543.4 1678.8 1788.1 1970.2 2234.7 2425.6 2748.5 3063.7 3233.5 3277.3 19

 20 ABS issuers 193.8 215.4 253.8 321.9 353.7 384.8 463.9 545.5 669.0 1059.2 20

 21 Finance companies 66.5 87.0 89.3 119.4 147.4 186.9 209.7 285.6 320.2 422.0 21

 22 REITs 6.9 8.0 14.0 14.8 11.3 7.8 8.6 18.7 37.2 103.1 22

 Memo:

 23 Home equity loans included above (2) 237.5 262.6 297.0 309.9 334.3 407.9 438.9 500.7 593.4 775.9 23

 24 U.S.-chartered depository institutions 190.5 206.1 229.4 232.8 249.2 307.8 336.5 381.8 461.6 604.8 24

 25 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 25

 26 Credit unions 22.9 25.5 29.0 29.7 33.4 40.7 44.9 48.0 51.7 63.9 26

 27 ABS issuers 2.7 3.5 4.8 6.9 8.4 10.5 12.4 15.0 16.1 23.6 27

 28 Finance companies 21.4 27.5 33.8 40.5 43.3 49.0 45.0 56.0 64.0 83.7 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 273.9 286.1 298.0 332.3 372.9 402.2 443.8 483.9 555.9 609.6 1

 2 Nonfinancial corporate business 13.3 13.8 14.1 15.4 17.9 19.2 21.2 23.2 26.7 29.2 2

 3 Nonfinancial noncorporate business 252.6 261.8 268.4 293.2 340.4 365.4 403.5 439.9 507.8 555.5 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 7.9 10.5 15.4 23.6 14.6 17.6 19.1 20.8 21.3 24.9 5

 6 Total assets 273.9 286.1 298.0 332.3 372.9 402.2 443.8 483.9 555.9 609.6 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 0.1 0.8 1.4 1.1 0.9 0.8 0.9 0.9 1.0 1.0 8

 9 Nonfinancial noncorporate business 7.2 6.8 6.2 8.9 8.0 7.8 9.0 8.8 8.8 10.4 9

 10 Federal government 17.7 14.8 13.9 13.6 13.6 13.9 13.7 14.3 14.5 15.0 10

 11 State and local governments 44.1 45.9 46.5 50.9 52.7 52.2 51.9 49.7 51.7 57.8 11

 12 U.S.-chartered depository institutions 104.5 107.0 109.2 111.7 127.0 139.1 149.4 162.8 182.4 206.3 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 28.7 30.8 30.4 31.8 32.8 33.7 35.6 36.8 38.6 40.5 14

 15 Private pension funds 1.0 1.0 1.0 0.9 1.1 1.1 1.4 1.9 2.2 2.2 15

 16 State and local govt. retirement funds 4.5 4.7 5.0 6.3 7.2 6.2 6.0 6.3 6.1 4.5 16

 17 Government-sponsored enterprises 18.5 17.7 16.2 16.2 20.5 25.0 33.2 41.7 68.2 82.5 17

 18 Agency- and GSE-backed mortgage pools 26.9 32.5 37.8 48.3 57.5 66.0 81.6 94.5 108.7 105.7 18

 19 ABS issuers 11.9 15.7 20.3 33.1 41.6 47.0 52.5 59.1 66.4 76.7 19

 20 Finance companies 7.2 7.2 8.0 7.5 7.6 7.6 7.1 5.7 5.7 5.6 20

 21 REITs 1.6 1.2 2.1 2.1 2.3 1.7 1.4 1.3 1.5 1.6 21
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Historical Annuals, 1995-2004, March 10, 2016 119

L.220 Commercial Mortgages

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 733.8 763.4 826.4 915.6 1052.4 1159.9 1244.6 1350.7 1471.5 1661.4 1

 2 Household sector 101.6 105.7 108.8 118.7 121.2 132.8 141.7 153.8 160.1 165.0 2

 3 Nonfinancial corporate business 182.9 191.2 218.5 215.5 291.8 313.0 347.8 397.2 436.0 518.1 3

 4 Nonfinancial noncorporate business 433.1 445.1 467.7 533.4 575.1 648.2 688.4 723.5 790.9 871.8 4

 5 REITs 16.1 21.4 31.4 48.0 64.3 65.9 66.6 76.1 84.5 106.5 5

 6 Total assets 733.8 763.4 826.4 915.6 1052.4 1159.9 1244.6 1350.7 1471.5 1661.4 6

 7 Household sector 5.3 6.0 6.6 7.4 8.3 10.0 9.3 10.6 11.6 12.9 7

 8 Nonfinancial corporate business 24.0 29.1 49.1 39.1 20.1 21.2 22.7 23.7 24.7 25.6 8

 9 Nonfinancial noncorporate business 5.9 5.6 5.1 7.2 6.7 6.5 7.4 7.2 7.3 8.5 9

 10 Federal government 9.4 8.5 7.8 7.9 41.5 41.1 41.0 42.1 40.5 42.4 10

 11 State and local governments 7.7 7.5 7.7 10.2 10.5 10.4 10.4 10.0 10.3 11.6 11

 12 U.S.-chartered depository institutions 390.3 414.0 443.9 484.1 554.5 625.6 689.3 754.5 821.5 923.0 12

 13 Foreign banking offices in U.S. 35.1 32.2 26.1 20.4 15.9 17.1 17.9 19.0 17.5 16.9 13

 14 Banks in U.S.-affiliated areas 4.0 3.9 4.4 4.8 6.0 6.8 11.0 11.2 12.8 15.9 14

 15 Property-casualty insurance companies 2.8 2.4 2.2 2.0 1.9 1.6 1.9 2.0 2.1 2.4 15

 16 Life insurance companies 165.9 160.3 158.8 163.8 179.0 183.8 188.4 195.0 203.9 214.1 16

 17 Private pension funds 3.2 3.3 3.4 3.2 4.0 3.1 3.7 5.7 6.4 6.4 17

 18 State and local govt. retirement funds 7.0 7.0 7.0 9.0 10.3 8.8 8.1 7.2 6.9 5.1 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 35.6 46.4 66.1 113.2 143.4 172.3 184.2 215.3 251.6 314.6 20

 21 Finance companies 31.8 32.6 31.3 34.0 40.3 43.4 41.4 39.2 44.2 48.4 21

 22 REITs 5.6 4.6 6.9 9.4 10.0 8.0 7.9 8.1 10.1 13.6 22

L.221 Farm Mortgages (1)

Billions of dollars

 1 Total liabilities 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 1

 2 Nonfinancial corporate business 6.8 7.5 8.3 9.4 10.4 10.9 12.3 14.6 13.8 17.0 2

 3 Nonfinancial noncorporate business 64.9 66.9 70.2 73.7 76.8 73.9 76.2 80.8 69.4 78.7 3

 4 Total assets 71.7 74.4 78.5 83.1 87.2 84.7 88.5 95.4 83.2 95.7 4

 5 Household sector 12.3 13.2 14.4 14.1 13.5 6.6 5.8 6.3 4.3 6.8 5

 6 Nonfinancial noncorporate business 0.4 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.6 6

 7 Federal government 6.2 5.8 4.9 4.5 4.3 4.1 4.0 3.7 3.4 3.2 7

 8 State and local governments 1.4 1.4 1.4 1.3 1.3 1.3 1.3 1.2 0.6 0.7 8

 9 U.S.-chartered depository institutions 20.2 21.2 23.2 25.2 27.6 29.8 31.1 33.1 29.0 34.6 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 8.2 8.6 8.9 9.9 10.6 11.1 11.2 11.4 10.0 10.7 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 22.5 23.5 25.0 27.0 28.1 29.7 33.1 38.8 34.2 38.0 13

 14 Agency- and GSE-backed mortgage pools 0.4 0.4 0.4 0.5 1.3 1.6 1.7 0.4 1.0 0.9 14

(1) Excludes mortgages on farm houses.
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120 Historical Annuals, 1995-2004, March 10, 2016

L.222 Consumer Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities (Households) 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 1

 2 Total assets 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 2

 3 Households (nonprofit organizations) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 6

 7 U.S.-chartered depository institutions 542.4 572.2 562.2 564.4 569.5 615.8 639.5 671.3 747.3 795.6 7

 8 Credit unions 131.9 144.1 152.4 155.4 167.9 184.4 189.6 195.7 205.9 215.4 8

 9 Government-sponsored enterprises 34.3 33.8 29.5 28.4 33.8 37.0 39.4 36.8 20.6 0.0 9

 10 ABS issuers 213.1 273.5 320.5 393.9 456.7 528.4 597.8 630.4 594.8 571.5 10

 11 Finance companies 152.1 154.9 167.5 183.3 201.6 234.4 280.0 307.5 393.0 492.3 11

 Memo:

 12 Credit card loans (3) 464.9 524.4 555.5 597.7 627.5 702.2 735.1 772.1 790.4 824.4 12

 13 Auto loans 367.1 397.7 423.2 461.6 511.0 581.2 674.2 708.8 759.5 797.9 13

 14 Student loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other consumer credit (5) 336.1 351.8 365.4 382.0 415.1 457.8 482.5 516.1 553.1 597.8 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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Historical Annuals, 1995-2004, March 10, 2016 121

L.223 Corporate Equities (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Issues at market value 8481.3 9703.6 12551.2 15274.8 19146.6 17299.8 15544.7 12387.2 16587.4 18880.3 1

 2 Domestic sectors 7690.7 8697.5 11343.5 13799.9 17142.9 15446.9 13932.1 11013.3 14508.0 16319.9 2

 3 Nonfinancial corporate business 6406.8 6758.1 8609.7 10887.4 14224.7 12173.8 10782.6 8159.3 10796.0 12033.8 3

 4 Publicly traded (2) 6406.8 5809.7 7374.4 9408.6 12483.0 10692.8 9335.9 6928.2 9312.1 10294.4 4

 5 Closely held 0.0 948.4 1235.3 1478.8 1741.7 1481.0 1446.7 1231.1 1483.9 1739.4 5

 6 Financial corporations 1284.0 1939.4 2733.7 2912.5 2918.2 3273.1 3149.5 2854.0 3712.0 4286.1 6

 7 Publicly traded (3) 1284.0 1808.0 2534.9 2771.4 2794.1 3128.2 3005.5 2715.0 3516.4 4037.6 7

 8 Closely held 0.0 131.4 198.9 141.1 124.1 144.8 144.0 139.0 195.6 248.5 8

 9 Rest of the world (4) 790.6 1006.1 1207.8 1475.0 2003.7 1852.8 1612.7 1374.0 2079.4 2560.4 9

 10 Holdings at market value 8481.3 9703.6 12551.2 15274.8 19146.6 17299.8 15544.7 12387.2 16587.4 18880.3 10

 11 Household sector 4434.2 4667.7 6043.7 7389.5 9465.6 7821.9 6704.4 5072.6 6662.9 7352.8 11

 12 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 State and local governments 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 93.4 107.7 13

 14 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions 19.3 24.5 25.9 35.7 42.0 43.3 40.3 30.6 49.0 57.5 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Property-casualty insurance companies 133.5 147.5 184.3 197.9 205.2 191.4 171.0 149.5 177.9 195.5 17

 18 Life insurance companies 309.6 406.9 539.8 683.2 909.0 892.0 811.3 708.9 919.3 1053.9 18

 19 Private pension funds 1217.6 1357.1 1544.2 1797.5 1880.6 1891.4 1842.4 1537.4 2027.2 2260.5 19

 20 Federal government retirement funds 11.5 18.8 29.9 43.0 56.9 56.6 49.1 45.7 79.2 97.7 20

 21 State and local govt. retirement funds 742.7 892.6 1140.7 1297.9 1536.4 1420.8 1364.2 1140.1 1530.0 1678.5 21

 22 Mutual funds 1024.9 1470.0 2018.7 2506.2 3376.7 3226.9 2834.0 2187.4 3051.3 3693.6 22

 23 Closed-end funds 41.9 47.0 49.6 47.6 41.2 36.5 31.0 33.6 52.7 81.8 23

 24 Exchange-traded funds 1.1 2.4 6.7 15.6 33.9 65.6 83.0 98.2 146.3 219.0 24

 25 Brokers and dealers 34.2 37.9 51.9 54.4 66.9 77.2 85.1 74.9 100.5 129.1 25

 26 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Rest of the world (5) 484.6 584.3 837.3 1107.9 1434.0 1483.0 1441.0 1229.1 1697.6 1952.7 27

 Memo:

 28 Publicly traded equity at market value (6) 7690.7 7617.7 9909.3 12180.0 15277.1 13821.1 12341.3 9643.2 12828.4 14332.0 28

 29 Closely held equity at market value (7) 0.0 1079.8 1434.2 1619.9 1865.8 1625.8 1590.7 1370.1 1679.5 1987.9 29

 30 S corporations 0.0 665.4 899.8 1102.7 1412.6 1256.1 1240.7 1032.9 1250.0 1426.0 30

 31 C corporations 0.0 414.4 534.4 517.2 453.2 369.8 350.0 337.2 429.5 561.9 31

 32 Percent change in Dow Jones U.S. Total Market Index (8) 33.4 18.8 29.2 21.7 22.0 -11.8 -12.1 -22.1 29.4 10.7 32

(1) Excludes mutual fund shares shown on table L.224.

(2) Excludes intercorporate holdings.

(3) Includes corporate equities issued by financial corporations under the federal financial stabilization programs.

(4) Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(5) Holdings of U.S. issues by foreign residents.

(6) Equal to the sum of lines 4 and 7.

(7) Equal to the sum of lines 5 and 8.

(8) Annual figures calculated from year-end to year-end.

L.224 Mutual Fund Shares (1)

Billions of dollars

 1 Shares at market value 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 1

 2 Holdings at market value 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 2

 3 Household sector 1253.0 1561.9 1873.1 2253.2 2763.7 2585.4 2499.2 2122.2 2790.6 3288.9 3

 4 Nonfinancial corporate business 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 4

 5 State and local governments 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 29.4 35.8 5

 6 U.S.-chartered depository institutions 2.3 2.6 8.1 9.1 12.4 15.0 21.3 19.6 17.1 18.1 6

 7 Credit unions 2.8 2.6 2.4 3.6 2.5 2.2 3.7 3.5 4.1 3.1 7

 8 Property-casualty insurance companies 0.7 1.0 1.7 2.2 2.7 2.9 3.0 2.8 4.7 6.3 8

 9 Life insurance companies 33.5 42.5 57.2 73.2 98.8 97.0 88.3 76.6 91.7 114.4 9

 10 Private pension funds 357.0 472.7 687.9 825.6 1104.2 1175.6 1005.0 969.4 1177.3 1337.0 10

 11 State and local govt. retirement funds 62.9 73.2 141.8 179.2 224.0 257.0 260.9 238.2 299.9 356.1 11

 12 Rest of the world 59.9 82.3 109.0 135.1 169.5 149.0 116.6 90.5 123.1 147.7 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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122 Historical Annuals, 1995-2004, March 10, 2016

L.225 Trade Credit

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total trade payables 1422.3 1538.5 1664.3 1773.3 2036.2 2430.6 2348.6 2438.9 2457.3 2647.5 1

 2 Household sector 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 2

 3 Nonfinancial corporate business 878.6 928.3 993.6 1051.2 1229.8 1542.4 1438.8 1458.6 1403.9 1501.5 3

 4 Nonfinancial noncorporate business 96.7 128.5 160.4 190.8 225.2 266.7 262.0 287.4 261.2 284.9 4

 5 Federal government 80.9 82.0 73.8 66.2 72.0 77.7 80.9 81.9 153.6 169.0 5

 6 State and local governments 229.6 247.8 267.4 288.2 311.0 336.0 363.0 391.3 420.1 450.1 6

 7 Brokers and dealers 10.3 14.3 19.9 18.9 30.9 35.9 39.2 37.4 28.2 36.0 7

 8 Rest of the world 25.1 28.4 31.2 31.2 36.4 37.1 31.8 30.4 33.6 32.7 8

 9 Total trade receivables 1579.7 1718.4 1869.1 1992.3 2234.9 2613.1 2514.8 2436.3 2425.5 2609.5 9

 10 Nonfinancial corporate business 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.5 1701.8 1830.6 10

 11 Nonfinancial noncorporate business 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 11

 12 Federal government 23.1 24.0 20.8 22.3 22.9 28.1 35.5 32.2 51.3 61.8 12

 13 State and local governments 77.3 82.9 89.2 96.3 104.9 109.9 115.9 118.4 116.6 125.0 13

 14 Property-casualty insurance companies 57.3 57.2 59.9 61.5 63.6 64.6 69.9 74.8 79.3 79.6 14

 15 ABS issuers 50.9 60.1 81.0 85.0 67.2 83.3 89.1 83.5 92.3 102.6 15

 16 Rest of the world 45.8 51.3 52.2 45.7 46.2 45.8 42.7 45.0 46.5 45.4 16

 17 Discrepancy -157.4 -179.9 -204.8 -219.0 -198.7 -182.5 -166.3 2.6 31.8 38.0 17

L.226 Life Insurance Reserves

Billions of dollars

 1 Total liabilities 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 1

 2 Federal government 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 2

 3 Life insurance companies 536.3 580.1 632.7 684.7 748.9 782.7 842.2 881.6 972.7 1018.8 3

 4 Net change in assets 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 4

 5 Households 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7
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Historical Annuals, 1995-2004, March 10, 2016 123

L.227 Pension Entitlements

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 6717.2 7240.7 8045.3 8872.4 9689.0 9980.7 10130.5 10246.5 11295.6 12426.5 1

 2 Life insurance companies (1) 890.1 972.4 1007.1 1145.8 1288.2 1332.0 1349.2 1385.8 1523.6 1704.0 2

 3 Private pension funds (2) 2802.0 3056.8 3486.8 3904.9 4286.7 4326.5 4223.0 4075.8 4615.6 5029.7 3

 4 Federal government retirement funds (3) 1598.9 1675.4 1756.0 1841.2 1928.8 2003.0 2079.6 2163.2 2283.2 2389.0 4

 5 State and local govt. retirement funds 1426.1 1536.0 1795.5 1980.6 2185.4 2319.2 2478.7 2621.7 2873.2 3303.8 5

 6 Total assets (Households) (4) 6717.2 7240.7 8045.3 8872.4 9689.0 9980.7 10130.5 10246.5 11295.6 12426.5 6

 Memo:

 7 Individual Retirement Accounts (IRAs) at: (5) 1288.0 1467.0 1728.0 2150.0 2651.0 2629.0 2619.0 2532.0 2993.0 3299.0 7

 8 U.S.-chartered depository institutions 228.1 224.9 219.0 213.2 206.8 213.4 214.7 219.4 220.9 221.7 8

 9 Credit unions 33.0 33.8 35.0 35.3 36.2 36.7 39.9 43.3 46.8 47.7 9

 10 Life insurance companies 94.3 110.3 161.0 190.1 245.5 245.5 251.0 308.3 338.4 348.1 10

 11 Money market mutual funds 78.0 93.0 91.0 116.0 133.0 138.0 156.0 165.0 152.0 137.0 11

 12 Mutual funds 384.5 504.0 676.0 854.0 1106.0 1088.0 1013.0 888.0 1185.0 1393.0 12

 13 Other self-directed accounts 470.2 500.9 546.0 741.3 923.5 907.4 944.4 908.0 1049.9 1151.6 13

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Assets of the household sector (L.101). Figures for depositories (lines 8 and 9) include Keogh accounts. Variable annuities in IRAs are included in the life insurance sector (line 10)

 and excluded from the money market mutual fund and mutual fund sectors (lines 11 and 12).

L.228 Taxes Payable by Businesses

Billions of dollars

 1 Total taxes payable by all businesses 94.8 110.8 117.1 130.3 150.5 179.4 191.2 200.6 198.8 219.2 1

 2 Nonfinancial corporate business 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 2

 3 Nonfinancial noncorporate business 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 3

 4 U.S.-chartered depository institutions -0.1 2.0 7.3 10.4 12.4 22.1 25.9 35.9 37.7 37.2 4

 5 Property-casualty insurance companies 3.3 3.9 4.4 3.3 3.4 3.4 3.7 -3.7 1.0 1.5 5

 6 Life insurance companies 12.0 12.5 -1.6 -0.1 0.5 0.1 -0.3 -7.7 -5.8 -2.7 6

 7 Finance companies 4.9 5.7 6.5 7.3 8.1 9.1 10.2 11.6 13.2 15.0 7

 8 Brokers and dealers 1.1 1.3 1.3 1.3 2.2 2.1 1.9 1.3 1.8 2.2 8

 9 Total business taxes receivable 55.0 130.3 132.7 131.3 139.5 153.1 156.8 165.0 168.8 179.2 9

 10 Federal government 17.3 90.2 88.4 82.0 80.3 83.3 84.0 90.7 93.7 91.2 10

 11 State and local governments 37.7 40.1 44.3 49.3 59.2 69.8 72.8 74.4 75.1 88.0 11

 12 Discrepancy 39.8 -19.4 -15.6 -1.0 11.0 26.3 34.4 35.6 30.0 40.0 12

L.229 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household equity 3517.1 3636.1 4018.3 4258.0 4492.0 4974.0 5171.8 5501.4 6086.1 7304.5 1

 2 Nonfinancial noncorporate business 3511.8 3629.6 4008.9 4248.4 4480.4 4962.4 5165.6 5496.4 6073.2 7293.3 2

 3 Brokers and dealers 5.4 6.5 9.5 9.6 11.5 11.7 6.2 5.0 13.0 11.2 3
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124 Historical Annuals, 1995-2004, March 10, 2016

L.230 Direct Investment

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 885.5 989.8 1068.1 1196.0 1414.4 1531.6 1693.1 1867.0 2054.5 2498.5 1

 2 Equity 827.4 922.0 994.3 1096.2 1253.5 1383.2 1537.1 1684.6 1873.8 2306.2 2

 3 Intercompany debt (2) 58.1 67.8 73.8 99.8 160.8 148.4 156.0 182.5 180.7 192.3 3

 4 U.S. parents’ claims 147.2 161.1 178.1 221.4 302.0 296.4 310.3 349.7 371.4 433.6 4

 5 Less: U.S. parents’ liabilities 89.0 93.3 104.3 121.6 141.1 148.0 154.3 167.3 190.7 241.4 5

 6 Asset: Nonfinancial corporate business 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 6

 7 U.S.-chartered depository institutions 37.9 42.8 44.2 31.2 36.0 44.5 50.6 51.0 57.5 93.5 7

 8 Property-casualty insurance companies 37.8 33.6 42.8 47.0 47.8 47.9 49.3 79.0 84.6 89.9 8

 9 Life insurance companies 5.6 6.6 8.6 11.1 9.4 10.4 8.6 12.2 14.4 16.6 9

 10 Finance companies 22.8 27.9 35.1 58.0 20.5 16.2 11.9 12.4 15.7 14.7 10

 11 Brokers and dealers 2.8 12.4 4.2 7.7 49.9 61.0 83.0 100.5 137.3 189.2 11

 Foreign direct investment in U.S.:

 12 Liab.: Nonfinancial corporate business 651.3 704.8 756.4 817.8 912.5 1180.0 1266.2 1252.5 1302.0 1409.8 12

 13 Nonfinancial noncorporate business 2.8 4.0 3.9 3.4 3.6 3.3 3.3 4.0 3.3 3.0 13

 14 Foreign banking offices in U.S. 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 14

 15 Property-casualty insurance companies 36.8 38.5 46.2 47.3 51.5 60.9 66.4 63.3 68.2 61.4 15

 16 Life insurance companies 13.8 17.6 25.2 27.3 32.1 42.9 38.8 49.6 46.6 66.6 16

 17 Finance companies 7.5 8.9 5.5 8.0 9.9 9.3 12.9 14.5 30.7 21.8 17

 18 Brokers and dealers 17.4 20.8 29.4 29.7 38.7 54.0 56.1 35.4 37.4 49.6 18

 19 Funding corporations -82.2 -79.2 -81.2 -59.5 -8.5 6.6 7.7 7.3 7.6 7.8 19

 20 Asset: Rest of the world (1) 680.1 745.6 824.1 920.0 1101.7 1421.0 1518.5 1500.0 1581.0 1742.7 20

 21 Equity 544.6 595.9 644.7 711.5 829.4 1086.8 1124.3 1136.7 1262.7 1424.0 21

 22 Intercompany debt 135.4 149.7 179.5 208.6 272.3 334.2 394.2 363.3 318.3 318.7 22

 23 U.S. affiliates’ liabilities 176.2 197.4 232.5 276.5 343.0 426.8 479.4 456.6 435.8 461.4 23

 24 Less: U.S. affiliates’ claims 40.8 47.6 53.1 67.9 70.6 92.5 85.2 93.3 117.5 142.7 24

 Memo:

 Direct investment, asset/liability presentation:

 25 Direct investment assets 1015.3 1130.8 1225.4 1385.5 1626.1 1772.2 1932.7 2127.6 2362.6 2882.6 25

 26 Equity (line 2) 827.4 922.0 994.3 1096.2 1253.5 1383.2 1537.1 1684.6 1873.8 2306.2 26

 27 Intercompany debt 188.0 208.8 231.2 289.3 372.6 389.0 395.6 443.0 488.9 576.3 27

 28 U.S. parents’ claims (line 4) 147.2 161.1 178.1 221.4 302.0 296.4 310.3 349.7 371.4 433.6 28

 29 U.S. affiliates’ claims (line 24) 40.8 47.6 53.1 67.9 70.6 92.5 85.2 93.3 117.5 142.7 29

 30 Direct investment liabilities 809.9 886.6 981.5 1109.5 1313.5 1661.6 1758.0 1760.5 1889.2 2126.8 30

 31 Equity (line 21) 544.6 595.9 644.7 711.5 829.4 1086.8 1124.3 1136.7 1262.7 1424.0 31

 32 Intercompany debt 265.3 290.7 336.9 398.1 484.1 574.8 633.7 623.8 626.5 702.7 32

 33 U.S. parents’ liabilities (line 5) 89.0 93.3 104.3 121.6 141.1 148.0 154.3 167.3 190.7 241.4 33

 34 U.S. affiliates’ liabilities (line 23) 176.2 197.4 232.5 276.5 343.0 426.8 479.4 456.6 435.8 461.4 34

 Alternative valuations of direct investment assets:

 U.S. direct investment abroad:

 35 Market value 1363.8 1608.3 1879.3 2279.6 2839.6 2694.0 2314.9 2022.6 2729.1 3362.8 35

 36 Equity 1305.6 1540.5 1805.5 2179.8 2678.8 2545.6 2158.9 1840.1 2548.4 3170.5 36

 37 Intercompany debt 58.1 67.8 73.8 99.8 160.8 148.4 156.0 182.5 180.7 192.3 37

 38 Historical cost 699.0 795.2 871.3 1000.7 1216.0 1316.2 1460.4 1616.5 1769.6 2160.8 38

 39 Equity 640.9 727.4 797.5 900.9 1055.1 1167.8 1304.3 1434.1 1588.9 1968.6 39

 40 Intercompany debt 58.1 67.8 73.8 99.8 160.8 148.4 156.0 182.5 180.7 192.3 40

 Foreign direct investment in U.S.:

 41 Market value 1005.7 1229.1 1637.4 2179.0 2798.2 2783.2 2560.3 2021.8 2454.9 2717.4 41

 42 Equity 870.3 1079.4 1457.9 1970.5 2525.9 2449.0 2166.1 1658.6 2136.5 2398.7 42

 43 Intercompany debt 135.4 149.7 179.5 208.6 272.3 334.2 394.2 363.3 318.3 318.7 43

 44 Historical cost 535.6 598.0 681.8 778.4 955.7 1256.9 1344.0 1327.2 1395.2 1520.3 44

 45 Equity 400.1 448.3 502.4 569.8 683.4 922.6 949.8 963.9 1076.8 1201.6 45

 46 Intercompany debt 135.4 149.7 179.5 208.6 272.3 334.2 394.2 363.3 318.3 318.7 46

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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Historical Annuals, 1995-2004, March 10, 2016 125

L.231 Total Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 5209.6 5511.3 5709.1 6248.2 6821.2 7790.4 8540.3 9464.3 9866.6 10916.4 1

 2 Household sector 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 2

 3 Nonfinancial corporate business 1357.7 1466.5 1314.9 1642.7 1905.7 2165.1 2245.9 2334.6 2285.3 2388.1 3

 4 Nonfinancial noncorporate business 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 4

 5 Federal government 1073.1 1076.4 1103.0 1131.3 1161.0 1212.4 1225.9 1290.4 1364.8 1423.2 5

 6 State and local governments 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 321.7 6

 7 Monetary authority 6.6 6.6 8.7 9.2 8.3 9.3 7.0 8.1 8.3 12.5 7

 8 U.S.-chartered depository institutions 773.5 838.0 948.6 922.8 981.0 1142.6 1133.1 1310.1 1412.9 1701.1 8

 9 Foreign banking offices in U.S. 126.2 137.9 164.7 173.5 183.0 239.3 197.6 236.2 244.2 275.1 9

 10 Banks in U.S.-affiliated areas 11.9 12.3 16.9 23.9 26.3 26.5 31.8 30.8 34.2 46.0 10

 11 Credit unions 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 11

 12 Property-casualty insurance companies 464.8 471.4 476.2 480.4 482.9 482.1 508.2 552.4 599.0 646.9 12

 13 Life insurance companies 501.2 531.4 694.6 739.5 809.8 782.7 797.3 812.2 979.5 1058.5 13

 14 Government-sponsored enterprises 65.1 65.7 74.6 95.6 90.1 97.0 147.4 186.7 145.2 138.5 14

 15 Finance companies 211.5 213.7 216.5 203.6 273.8 408.3 458.6 524.7 635.7 697.8 15

 16 REITs 6.7 9.2 18.0 31.6 36.3 38.1 38.1 40.9 42.5 50.8 16

 17 Brokers and dealers 74.3 101.3 122.6 165.7 169.6 162.6 302.5 223.1 259.0 326.7 17

 18 Holding companies 26.5 38.2 59.7 75.5 89.8 105.9 152.3 192.2 242.5 272.1 18

 19 Funding corporations 199.3 278.3 358.9 438.9 568.5 646.7 699.1 648.2 706.2 757.6 19

 20 Rest of the world 48.7 54.5 55.3 56.1 62.4 31.4 29.7 30.7 76.2 52.7 20

 21 Total assets 5908.1 6329.4 6777.7 7868.5 8715.1 10725.3 11799.5 12831.5 12859.3 14272.9 21

 22 Household sector 328.3 338.9 351.5 360.8 372.6 378.7 397.8 444.9 501.3 553.8 22

 23 Nonfinancial corporate business 2299.5 2554.7 2698.1 3440.8 4173.8 5362.8 5439.5 5451.8 5387.8 5621.1 23

 24 Nonfinancial noncorporate business 196.3 232.6 289.2 414.1 496.6 586.5 717.0 758.0 809.1 1045.1 24

 25 Federal government 117.4 110.7 107.3 114.4 119.5 124.2 126.2 129.3 131.1 134.5 25

 26 State and local governments 79.4 81.0 153.1 152.6 139.8 118.2 103.1 76.9 72.1 78.7 26

 27 Monetary authority 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 27

 28 U.S.-chartered depository institutions 222.5 252.4 300.6 311.3 353.5 415.0 466.4 638.3 671.0 823.6 28

 29 Foreign banking offices in U.S. 36.6 27.4 28.5 34.8 37.1 33.5 32.0 36.3 29.6 30.8 29

 30 Banks in U.S.-affiliated areas 4.0 4.8 6.6 9.7 8.7 6.6 12.5 6.4 4.3 5.2 30

 31 Credit unions 13.9 13.8 17.5 24.3 9.4 19.5 28.1 34.0 26.0 25.7 31

 32 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Life insurance companies 113.2 119.8 140.7 159.0 149.7 177.7 197.1 184.8 206.8 227.3 33

 34 Private pension funds 405.5 383.8 337.4 334.1 270.6 388.7 588.0 785.7 551.9 578.0 34

 35 Federal government retirement funds 1066.5 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 35

 36 State and local govt. retirement funds 34.7 -47.4 -169.0 -260.7 -400.9 -225.7 42.0 485.4 269.9 473.0 36

 37 Money market mutual funds 39.4 43.8 58.1 61.5 84.8 63.9 53.8 51.5 34.4 41.7 37

 38 Mutual funds 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 38

 39 Government-sponsored enterprises 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 39

 40 ABS issuers 0.0 0.0 0.0 0.8 3.3 9.6 24.8 46.2 67.4 87.1 40

 41 Finance companies -4.6 -5.0 2.2 -54.9 -3.3 35.5 55.6 68.7 104.9 79.8 41

 42 REITs 7.3 5.6 10.5 21.2 19.9 21.7 22.4 25.0 29.3 40.4 42

 43 Brokers and dealers 255.3 308.2 387.7 491.6 472.9 594.1 738.0 623.2 721.5 804.8 43

 44 Holding companies 483.2 528.5 588.6 709.8 763.6 880.2 1009.0 1129.8 1294.4 1583.0 44

 45 Funding corporations 165.5 230.7 280.1 327.3 395.7 442.4 436.5 475.2 493.4 534.8 45

 46 Discrepancy -698.4 -818.2 -1068.6 -1620.3 -1893.9 -2934.9 -3259.2 -3367.2 -2992.7 -3356.5 46
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126 Historical Annuals, 1995-2004, March 10, 2016

L.232 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 28.0 29.8 31.4 33.0 34.4 35.9 37.6 39.1 40.5 42.5 1

 2 Asset: Federal government 28.0 29.8 31.4 33.0 34.4 35.9 37.6 39.1 40.5 42.5 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 3

 4 Asset: U.S.-chartered depository institutions 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 4

 Equity in government-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 18.3 19.7 21.5 25.5 31.6 33.8 37.1 39.1 42.3 44.8 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 6

 7 Nonfinancial noncorporate (FCS) 2.9 3.0 3.0 3.0 3.0 3.1 3.5 3.6 4.2 4.2 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 14.9 16.2 17.9 21.8 27.5 29.5 32.1 33.5 35.1 36.7 9

 10 Credit unions (FHLB) 0.2 0.2 0.2 0.3 0.5 0.6 0.9 1.2 1.4 1.7 10

 11 Property-casualty insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Life insurance companies (FHLB) 0.1 0.2 0.2 0.2 0.3 0.4 0.3 0.5 1.1 1.7 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 Real estate investment trusts (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 Holding company net transactions with subsidiaries:

 15 Liab.: U.S.-chartered depository institutions 350.6 384.3 415.5 476.7 501.1 595.9 656.3 722.8 742.7 961.8 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 15.6 19.6 23.4 25.9 17

 18 Finance companies 28.6 31.5 35.2 36.0 83.9 109.2 144.9 161.1 181.8 234.1 18

 19 Brokers and dealers 53.8 43.5 47.0 85.2 54.2 56.8 24.0 1.4 21.1 23.2 19

 20 Rest of the world 18.5 22.6 21.9 21.3 25.4 -7.1 -10.4 -11.1 33.1 7.5 20

 21 Asset: Holding companies 451.5 481.9 519.6 619.2 664.7 754.8 830.3 893.8 1002.1 1252.5 21

 NFC investment in finance company subsidiaries:

 22 Liab.: Finance companies 22.5 23.0 28.0 18.0 28.6 29.4 11.6 18.5 21.0 23.6 22

 23 Asset: Nonfinancial corporate business 22.5 23.0 28.0 18.0 28.6 29.4 11.6 18.5 21.0 23.6 23

 Funding corporations’ investment in subsidiaries:

 24 Liab.: Foreign banking offices in U.S. 50.7 64.5 78.8 90.6 93.0 138.7 108.7 127.3 134.7 167.7 24

 25 Brokers and dealers 114.8 166.3 201.3 236.8 302.7 303.8 327.7 347.9 358.7 367.1 25

 26 Asset: Funding corporations 165.5 230.7 280.1 327.3 395.7 442.4 436.5 475.2 493.4 534.8 26

 Equity investment under Public-Private Inv. Program:

 27 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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Historical Annuals, 1995-2004, March 10, 2016 127

L.233 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.6 2.6 1

 2 Asset: Federal government 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.6 2.6 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 19.3 18.0 18.0 24.9 17.1 17.1 25.7 27.6 20.5 18.4 6

 7 Asset: U.S.-chartered depository institutions 19.3 18.0 18.0 24.9 17.1 17.1 25.7 27.6 20.5 18.4 7

 Funding agreements backing securities (2):

 8 Liab.: Life insurance companies 0.0 0.0 0.0 0.8 3.3 9.6 24.8 46.2 67.4 87.1 8

 9 Asset: ABS issuers 0.0 0.0 0.0 0.8 3.3 9.6 24.8 46.2 67.4 87.1 9

 Deferred and unpaid life insurance premiums:

 10 Liab.: Household sector 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 10

 11 Asset: Life insurance companies 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 11

 Life insurance company reserves:

 12 Liab.: Life insurance companies 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 12

 13 Accident and health 63.2 69.4 75.7 83.0 93.5 97.4 100.5 110.6 121.5 131.3 13

 14 Policy dividend accumulation 33.7 34.5 36.4 37.1 38.4 39.5 40.4 40.6 40.5 41.7 14

 15 Contract claims 24.6 25.4 27.8 30.2 30.1 32.0 34.4 34.5 37.5 38.0 15

 16 Asset: Household sector 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 16

 Policy payables:

 17 Liab.: Property-casualty insurance companies 464.8 471.4 476.2 480.4 482.9 482.1 508.2 552.4 599.0 646.9 17

 18 Asset: Household sector 206.8 209.6 211.6 210.5 210.6 209.9 222.4 243.9 266.8 290.4 18

 19 Nonfinancial corporate business 186.5 189.3 191.4 193.7 195.0 195.1 205.9 224.0 243.0 262.7 19

 20 Nonfinancial noncorporate business 71.5 72.5 73.2 76.2 77.3 77.2 80.0 84.5 89.2 93.8 20

 Unallocated insurance company contracts:

 21 Liab.: Life insurance companies 322.2 341.0 459.0 478.7 513.0 462.8 418.1 372.7 474.9 507.7 21

 22 Asset: Private pension funds 322.2 341.0 390.8 392.7 406.9 363.6 326.3 292.2 372.9 392.3 22

 23 State and local government retirement funds 0.0 0.0 68.2 85.9 106.1 99.2 91.9 80.5 102.0 115.3 23

 Pension fund contributions payable:

 24 Liab.: Nonfinancial corporate business 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 24

 25 Asset: Private pension funds 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 25

 Securities borrowed (net):

 26 Liab.: Funding corporations 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 26

 27 Asset: Brokers and dealers 216.2 276.1 333.3 403.3 419.5 508.2 578.3 575.4 678.0 764.8 27

 Retiree health care funds (3):

 28 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 35.0 52.4 28

 29 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 35.0 52.4 29

 Claims of pension fund on sponsor:

 30 Liab.: Nonfinancial corporate business -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 30

 31 Federal government 1066.5 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 31

 32 State and local governments 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 321.7 32

 33 Asset: Private pension funds -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 33

 34 Federal government retirement funds 1066.5 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 34

 35 State and local govt. retirement funds 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 321.7 35

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

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables L.132 and L.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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128 Historical Annuals, 1995-2004, March 10, 2016

L.234 Unidentified Miscellaneous Financial Claims

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Total liabilities 2271.9 2521.4 2701.5 3078.8 3686.2 4064.8 4109.3 4139.5 4602.4 4925.1 1

 2 Nonfinancial corporate business 1368.2 1537.4 1491.9 1830.0 2190.2 2285.6 2085.8 1945.0 2207.3 2307.2 2

 3 Nonfinancial noncorporate business 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 3

 4 Federal government 6.7 7.3 6.6 6.7 6.6 6.4 6.2 6.0 5.8 5.6 4

 5 Monetary authority 2.6 2.0 3.2 3.3 1.9 2.3 -0.3 -0.2 -0.6 0.6 5

 6 U.S.-chartered depository institutions 422.9 453.7 533.1 446.1 479.8 546.7 476.8 587.3 670.2 739.3 6

 7 Foreign banking offices in U.S. 75.4 73.4 85.9 83.0 90.0 100.6 88.9 108.9 109.5 107.4 7

 8 Banks in U.S.-affiliated areas 11.9 12.3 16.9 23.9 26.3 26.5 31.8 30.8 34.2 46.0 8

 9 Credit unions 4.5 4.6 4.6 5.2 6.0 5.6 3.8 5.7 7.4 9.3 9

 10 Life insurance companies 57.5 61.1 95.6 109.8 131.6 141.4 163.3 188.1 214.3 226.9 10

 11 Government-sponsored enterprises 27.6 28.0 35.1 45.2 41.5 46.1 84.6 120.0 82.4 75.3 11

 12 Finance companies 160.4 159.1 153.4 149.6 161.3 269.7 302.1 345.2 432.9 440.1 12

 13 REITs 6.7 9.2 18.0 31.6 36.3 38.1 38.1 40.9 42.5 50.8 13

 14 Brokers and dealers -94.3 -108.4 -125.6 -156.2 -187.3 -197.9 -49.3 -126.2 -120.8 -63.5 14

 15 Holding companies 26.5 38.2 59.7 75.5 89.8 105.9 152.3 192.2 242.5 272.1 15

 16 Funding corporations -16.8 2.2 25.7 35.6 148.9 138.6 120.8 72.8 28.2 -7.2 16

 17 Total assets 2970.3 3339.6 3770.1 4699.1 5580.1 6999.7 7368.5 7506.7 7595.1 8281.6 17

 18 Nonfinancial corporate business 2090.4 2342.2 2478.6 3229.0 3950.0 5138.1 5221.7 5208.9 5123.3 5334.3 18

 19 Nonfinancial noncorporate business 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 715.7 947.1 19

 20 Federal government 87.2 78.8 73.8 79.5 82.6 85.7 86.0 87.6 87.9 89.3 20

 21 State and local governments 79.4 81.0 153.1 152.6 139.8 118.2 103.1 76.9 72.1 78.7 21

 22 Monetary authority 10.7 11.2 13.2 16.1 16.8 19.3 20.3 19.6 18.2 18.6 22

 23 U.S.-chartered depository institutions 184.4 213.6 259.2 258.7 302.5 361.4 401.2 568.8 606.5 756.6 23

 24 Foreign banking offices in U.S. 36.6 27.4 28.5 34.8 37.1 33.5 32.0 36.3 29.6 30.8 24

 25 Banks in U.S.-affiliated areas 4.0 4.8 6.6 9.7 8.7 6.6 12.5 6.4 4.3 5.2 25

 26 Credit unions 13.8 13.6 17.3 24.0 8.8 18.9 27.3 32.8 24.6 24.0 26

 27 Life insurance companies 95.6 101.3 121.9 141.5 129.9 157.8 177.7 164.3 184.7 203.1 27

 28 Private pension funds 93.8 113.6 123.5 128.6 148.3 145.6 101.6 103.8 101.0 104.7 28

 29 State and local govt. retirement funds 6.3 7.0 7.6 7.6 8.9 9.1 11.6 10.7 11.6 36.0 29

 30 Mutual funds 6.3 4.7 11.8 7.7 4.2 3.5 0.9 0.9 2.0 7.0 30

 31 Money market mutual funds 39.4 43.8 58.1 61.5 84.8 63.9 53.8 51.5 34.4 41.7 31

 32 Government-sponsored enterprises 26.9 60.1 67.7 67.6 72.5 63.4 68.9 90.9 109.4 113.9 32

 33 Finance companies -4.6 -5.0 2.2 -54.9 -3.3 35.5 55.6 68.7 104.9 79.8 33

 34 REITs 7.3 5.6 10.5 21.2 19.9 21.7 22.4 25.0 29.3 40.4 34

 35 Brokers and dealers 39.2 32.2 54.4 88.4 53.4 85.9 159.7 47.8 43.5 40.0 35

 36 Holding companies 31.8 46.6 69.0 90.6 98.9 125.5 178.6 235.9 292.3 330.5 36

 37 Discrepancy -698.4 -818.2 -1068.6 -1620.3 -1893.9 -2934.9 -3259.2 -3367.2 -2992.7 -3356.5 37
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Historical Annuals, 1995-2004, March 10, 2016 129

B.101 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 34275.4 36319.6 40091.5 44339.9 49598.8 50882.0 51980.6 52308.1 58719.3 66836.6 1

 2 Nonfinancial assets 11497.8 11985.2 12688.1 13778.8 14963.3 16923.4 18456.8 20045.5 21919.4 25006.1 2

 3 Real estate 8835.2 9220.5 9826.6 10788.6 11800.4 13532.2 14888.6 16295.1 17996.9 20841.7 3

 4 Households (2,3) 8055.6 8428.3 8854.6 9693.7 10641.0 12212.2 13567.0 14864.5 16482.4 18994.0 4

 5 Nonprofit organizations 779.6 792.3 972.0 1094.9 1159.4 1320.1 1321.6 1430.5 1514.4 1847.7 5

 6 Equipment (nonprofits) (4) 90.1 91.4 94.6 103.6 114.3 127.3 140.2 155.9 171.8 189.4 6

 7 Intellectual property products (nonprofits) (4) 43.2 45.3 48.9 52.9 57.5 62.0 63.8 67.1 71.6 75.5 7

 8 Consumer durable goods (4) 2529.3 2627.9 2718.0 2833.8 2991.1 3201.8 3364.3 3527.5 3679.2 3899.5 8

 9 Financial assets 22777.6 24334.5 27403.5 30561.0 34635.5 33958.6 33523.8 32262.6 36799.9 41830.5 9

 10 Deposits 3427.7 3568.1 3735.4 3940.1 4126.9 4462.5 4984.4 5240.4 5481.1 5843.2 10

 11 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.8 61.8 11

 12 Checkable deposits and currency 586.5 544.8 503.9 528.7 508.9 405.4 480.1 464.1 458.0 399.8 12

 13 Time and savings deposits 2345.4 2486.9 2623.0 2706.3 2807.9 3071.5 3354.6 3657.9 4015.7 4483.2 13

 14 Money market fund shares 472.4 500.9 571.3 667.4 769.5 937.3 1101.0 1068.4 954.5 898.5 14

 15 Debt securities 2274.9 2414.3 2352.2 2381.5 2489.5 2369.6 2141.6 2151.9 2322.8 3226.6 15

 16 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 16

 17 Treasury securities 836.6 888.4 797.0 732.0 809.5 578.2 434.2 269.9 417.5 473.6 17

 18 Agency- and GSE-backed securities 216.3 332.6 390.3 441.5 540.5 587.9 385.0 241.5 376.7 443.8 18

 19 Municipal securities 533.4 493.0 497.6 498.4 526.9 531.5 587.9 671.5 687.2 1522.9 19

 20 Corporate and foreign bonds 616.9 624.5 590.1 629.5 527.8 574.7 646.3 886.8 764.1 702.6 20

 21 Loans 259.1 296.1 319.0 387.2 452.3 566.6 614.0 561.8 646.4 773.8 21

 22 Other loans and advances (5) 145.5 190.0 220.0 292.5 350.3 462.6 504.8 444.6 524.2 641.1 22

 23 Mortgages 113.6 106.1 99.0 94.7 102.0 104.0 109.2 117.2 122.2 132.6 23

 24 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Corporate equities (2) 4434.2 4667.7 6043.7 7389.5 9465.6 7821.9 6704.4 5072.6 6662.9 7352.8 25

 26 Mutual fund shares (6) 1253.0 1561.9 1873.1 2253.2 2763.7 2585.4 2499.2 2122.2 2790.6 3288.9 26

 27 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 27

 28 Pension entitlements (7) 6717.2 7240.7 8045.3 8872.4 9689.0 9980.7 10130.5 10246.5 11295.6 12426.5 28

 29 Equity in noncorporate business (8) 3517.1 3636.1 4018.3 4258.0 4492.0 4974.0 5171.8 5501.4 6086.1 7304.5 29

 30 Miscellaneous assets 328.3 338.9 351.5 360.8 372.6 378.7 397.8 444.9 501.3 553.8 30

 31 Liabilities 5041.7 5404.2 5757.0 6198.2 6753.5 7348.9 7974.0 8757.9 9832.7 11004.1 31

 32 Debt securities (municipal securities) (10) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 32

 33 Loans 4826.8 5174.3 5510.8 5932.9 6471.4 7057.2 7670.7 8422.0 9477.3 10610.8 33

 34 Home mortgages (9) 3319.2 3537.3 3753.2 4054.7 4431.6 4813.9 5322.0 6028.0 6909.9 7859.5 34

 35 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 35

 36 Depository institution loans n.e.c. 50.8 40.7 50.5 42.9 19.3 14.9 -1.2 -25.2 3.2 -16.8 36

 37 Other loans and advances 187.0 216.7 254.1 275.3 345.7 354.3 316.4 268.4 301.2 383.0 37

 38 Commercial mortgages (10) 101.6 105.7 108.8 118.7 121.2 132.8 141.7 153.8 160.1 165.0 38

 39 Trade payables (10) 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 39

 40 Deferred and unpaid life insurance premiums 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 40

 41 Net worth 29233.6 30915.4 34334.5 38141.7 42845.3 43533.1 44006.6 43550.2 48886.6 55832.5 41

 Memo:

 42 Assets held in IRAs (11) 1288.0 1467.0 1728.0 2150.0 2651.0 2629.0 2619.0 2532.0 2993.0 3299.0 42

 43 Assets held in 529 college plans (11) ND 2.4 3.3 3.9 5.8 9.3 13.6 26.8 45.8 64.7 43

 44 College savings plans ND 0.0 0.2 0.5 1.1 3.2 11.0 22.0 35.1 52.2 44

 45 Prepaid tuition plans ND 2.4 3.0 3.4 4.6 6.1 2.6 4.9 10.7 12.5 45

 Replacement-cost value of structures:

 46 Residential 5595.3 5915.7 6247.4 6670.4 7200.9 7731.9 8331.6 8927.4 9732.9 10933.1 46

 47 Households 5484.7 5802.3 6129.3 6546.4 7071.1 7595.7 8188.3 8776.8 9573.7 10759.5 47

 48 Nonprofit organizations 110.5 113.4 118.1 124.0 129.8 136.2 143.3 150.6 159.2 173.7 48

 49 Nonresidential (nonprofits) 588.1 615.5 656.5 703.6 753.3 807.9 861.3 907.7 960.4 1065.6 49

 50 Disposable personal income (DPI) (SAAR) 5532.6 5829.9 6148.8 6561.3 6876.3 7400.5 7752.3 8099.2 8485.8 9002.3 50

 51 Net worth/DPI (percent) (line 41/line 50) 528.39 530.29 558.39 581.32 623.09 588.25 567.66 537.71 576.10 620.20 51

 52 Owners’ equity in real estate (line 4 less line 34) 4736.4 4891.0 5101.4 5639.0 6209.4 7398.3 8245.0 8836.5 9572.6 11134.5 52

 53 Owners’ equity/real estate (percent) (line 52/line 4) 58.80 58.03 57.61 58.17 58.35 60.58 60.77 59.45 58.08 58.62 53

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

(5) Includes cash accounts at brokers and dealers and syndicated loans to nonfinancial corporate business by nonprofits and domestic hedge funds.

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

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

(8) Net worth of nonfinancial noncorporate business (table B.104, line 35) and owners’ equity in unincorporated security brokers and dealers.

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

(10) Liabilities of nonprofit organizations.

(11) Included in assets shown on the household balance sheet.
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130 Historical Annuals, 1995-2004, March 10, 2016

B.103 Balance Sheet of Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 12226.5 12959.5 14289.7 16003.6 17774.6 20434.1 20520.0 20982.8 21493.8 23867.2 1

 2 Nonfinancial assets 7251.2 7487.0 8471.3 9178.8 9681.1 10673.3 10633.1 11041.2 11377.1 12929.9 2

 3 Real estate (1) 3223.0 3260.0 4021.9 4529.7 4715.6 5363.4 5279.3 5608.8 5814.7 7050.7 3

 4 Equipment (2) 2249.1 2368.6 2477.4 2582.5 2720.5 2888.8 2961.3 2975.8 3006.1 3145.4 4

 5 Intellectual property products (2) 700.1 753.8 824.2 892.2 986.6 1081.1 1119.5 1144.4 1195.9 1242.2 5

 6 Inventories (2) 1079.0 1104.5 1147.8 1174.3 1258.5 1340.0 1273.0 1312.2 1360.4 1491.6 6

 7 Financial assets 4975.4 5472.5 5818.4 6824.8 8093.5 9760.8 9887.0 9941.6 10116.7 10937.3 7

 8 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 8

 9 Checkable deposits and currency 206.7 189.0 177.7 161.8 191.3 226.4 172.5 160.2 204.2 207.2 9

 10 Time and savings deposits 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 10

 11 Money market fund shares 60.0 94.6 118.8 161.7 196.8 213.9 314.1 319.7 289.3 299.6 11

 12 Security repurchase agreements 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 12

 13 Debt securities 137.4 138.1 98.3 99.4 104.4 123.2 123.9 145.2 156.0 172.2 13

 14 Commercial paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 14

 15 Treasury securities 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 33.7 34.0 15

 16 Agency- and GSE-backed securities 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 16

 17 Municipal securities 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 17

 18 Loans 143.0 132.1 164.7 146.6 117.3 125.0 119.7 124.4 110.8 125.8 18

 19 Mortgages 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 19

 20 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 20

 21 Mutual fund shares (1) 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 21

 22 Trade receivables 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.5 1701.8 1830.6 22

 23 U.S. direct investment abroad (3) 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 23

 24 Miscellaneous assets 2299.5 2554.7 2698.1 3440.8 4173.8 5362.8 5439.5 5451.8 5387.8 5621.1 24

 25 Liabilities 6023.1 6393.6 6645.4 7476.2 8427.3 9632.4 9833.2 9950.0 9894.6 10381.6 25

 26 Debt securities 1786.2 1876.1 2020.0 2257.7 2507.0 2707.6 2903.8 2931.1 2970.6 2995.1 26

 27 Commercial paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 27

 28 Municipal securities (4) 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 28

 29 Corporate bonds (3) 1494.1 1581.9 1709.4 1916.9 2123.8 2275.0 2568.4 2650.7 2724.2 2711.9 29

 30 Loans 1309.0 1367.9 1501.3 1642.8 1801.4 1959.3 1897.4 1880.2 1851.6 1999.1 30

 31 Depository institution loans n.e.c. 631.5 662.3 716.9 797.5 846.1 901.3 796.8 693.4 614.1 618.0 31

 32 Other loans and advances 467.2 484.8 534.9 595.0 623.1 700.9 703.0 734.9 742.2 793.3 32

 33 Mortgages 210.2 220.8 249.5 250.3 332.2 357.1 397.6 451.9 495.3 587.8 33

 34 Trade payables 878.6 928.3 993.6 1051.2 1229.8 1542.4 1438.8 1458.6 1403.9 1501.5 34

 35 Taxes payable 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 35

 36 Foreign direct investment in U.S. 651.3 704.8 756.4 817.8 912.5 1180.0 1266.2 1252.5 1302.0 1409.8 36

 37 Miscellaneous liabilities 1357.7 1466.5 1314.9 1642.7 1905.7 2165.1 2245.9 2334.6 2285.3 2388.1 37

 38 Net worth (market value) 6203.4 6565.9 7644.3 8527.4 9347.3 10801.7 10686.8 11032.8 11599.2 13485.6 38

 Memo:

 Replacement-cost value of structures:

 39 Residential 71.2 74.7 80.0 86.0 91.4 97.6 104.1 111.2 118.9 131.5 39

 40 Nonresidential 3079.6 3224.1 3416.4 3598.2 3771.1 4030.3 4303.2 4526.0 4717.0 5247.3 40

 41 Market value of equities outstanding 6406.8 6758.1 8609.7 10887.4 14224.7 12173.8 10782.6 8159.3 10796.0 12033.8 41

 42 Debt/net worth (percent) (lines 26+30/line 38) 49.90 49.41 46.06 45.74 46.09 43.20 44.93 43.61 41.57 37.03 42

 43 Debt/equities (percent) (lines 26+30/line 41) 48.31 48.00 40.90 35.83 30.29 38.34 44.53 58.97 44.67 41.50 43

 44 Equities/net worth (percent) (line 41/line 38) 103.28 102.93 112.63 127.68 152.18 112.70 100.90 73.95 93.08 89.23 44

 With nonfinancial assets stated at historical cost:

 45 Assets (sum of lines 7 and 46) 10554.2 11386.0 12094.8 13483.3 15176.8 17335.6 17737.7 18010.3 18414.6 19589.6 45

 46 Nonfinancial assets 5578.8 5913.5 6276.3 6658.6 7083.3 7574.8 7850.8 8068.7 8297.9 8652.3 46

 47 Real estate 2044.0 2138.8 2244.7 2369.0 2488.8 2641.5 2805.2 2920.0 3024.6 3142.4 47

 48 Equipment 1878.0 2024.6 2181.2 2334.2 2499.8 2680.2 2788.4 2833.2 2880.8 2951.9 48

 49 Intellectual property products 625.2 682.4 751.4 818.1 895.8 982.9 1047.6 1083.8 1123.2 1168.4 49

 50 Inventories 1031.5 1067.7 1099.0 1137.3 1198.8 1270.2 1209.5 1231.6 1269.2 1389.6 50

 51 Net worth (historical cost) (line 45 less line 25) 4531.1 4992.4 5449.4 6007.1 6749.5 7703.2 7904.5 8060.3 8520.0 9208.0 51

 Memo:

 Historical-cost value of structures:

 52 Residential 31.0 32.8 35.4 37.9 40.9 44.4 48.0 51.8 56.2 61.1 52

 53 Nonresidential 1722.8 1818.5 1921.9 2038.0 2154.4 2292.5 2432.1 2535.9 2634.8 2736.1 53

 54 Debt/net worth (percent) (lines 26+30/line 49) 68.31 64.98 64.62 64.93 63.83 60.58 60.74 59.69 56.60 54.24 54

(1) At market value.

(2) At replacement (current) cost.

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

(4) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.
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Historical Annuals, 1995-2004, March 10, 2016 131

B.104 Balance Sheet of Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 5031.3 5284.4 5857.6 6402.2 6945.3 7758.4 8179.7 8708.6 9355.2 10930.7 1

 2 Nonfinancial assets 4438.9 4597.2 5039.3 5361.4 5719.4 6285.8 6550.2 7000.4 7566.6 8771.2 2

 3 Real estate (1) 3861.5 3963.8 4386.9 4701.3 5027.0 5551.3 5800.0 6216.4 6742.6 7893.6 3

 4 Residential 2299.8 2383.6 2567.3 2724.7 2973.7 3290.4 3552.1 3901.8 4306.5 4996.8 4

 5 Nonresidential 1561.7 1580.1 1819.7 1976.6 2053.3 2260.9 2247.9 2314.6 2436.2 2896.7 5

 6 Equipment (2) 377.3 393.4 405.8 420.1 433.9 453.2 470.2 485.5 501.8 536.0 6

 7 Residential (3) 31.8 32.6 32.5 33.0 33.7 35.0 36.2 36.9 37.0 38.5 7

 8 Nonresidential 345.5 360.8 373.3 387.2 400.2 418.2 433.9 448.6 464.9 497.5 8

 9 Intellectual property products (2) 56.6 59.9 64.6 72.0 83.5 96.4 105.3 115.5 125.9 135.3 9

 10 Inventories (2) 143.4 180.1 182.0 168.0 174.9 184.8 174.7 183.0 196.2 206.3 10

 11 Financial assets 592.5 687.2 818.2 1040.9 1225.9 1472.7 1629.5 1708.2 1788.7 2159.5 11

 12 Checkable deposits and currency 119.8 139.0 161.3 167.4 172.6 181.0 181.8 184.5 190.6 297.5 12

 13 Time and savings deposits 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 300.6 13

 14 Money market fund shares 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 66.5 14

 15 Debt securities 25.8 31.2 35.4 40.8 39.9 42.6 46.3 46.2 47.6 54.5 15

 16 Treasury securities 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 16

 17 Municipal securities 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 17

 18 Loans 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 18

 19 Mortgages 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 19

 20 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Trade receivables 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 21

 22 Miscellaneous assets 196.3 232.6 289.2 414.1 496.6 586.5 717.0 758.0 809.1 1045.1 22

 23 Insurance receivables 71.5 72.5 73.2 76.2 77.3 77.2 80.0 84.5 89.2 93.8 23

 24 Equity investment in GSEs (4) 2.9 3.0 3.0 3.0 3.0 3.1 3.5 3.6 4.2 4.2 24

 25 Other 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 715.7 947.1 25

 26 Liabilities 1519.6 1654.8 1848.7 2153.8 2464.9 2796.1 3014.1 3212.2 3282.1 3637.4 26

 27 Loans 1174.6 1245.1 1347.0 1526.0 1719.8 1912.3 2075.7 2227.6 2301.5 2556.2 27

 28 Depository institution loans n.e.c. 200.6 229.8 276.6 302.1 351.7 402.1 445.6 469.3 479.7 512.6 28

 29 Other loans and advances 104.1 105.1 109.4 115.1 121.2 128.7 125.1 127.7 127.1 128.3 29

 30 Mortgages 869.9 910.1 961.1 1108.8 1246.9 1381.5 1505.0 1630.6 1694.7 1915.3 30

 31 Trade payables 96.7 128.5 160.4 190.8 225.2 266.7 262.0 287.4 261.2 284.9 31

 32 Taxes payable 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 32

 33 Foreign direct investment in U.S. 2.8 4.0 3.9 3.4 3.6 3.3 3.3 4.0 3.3 3.0 33

 34 Miscellaneous liabilities 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 34

 35 Net worth (5) 3511.8 3629.6 4008.9 4248.4 4480.4 4962.4 5165.6 5496.4 6073.2 7293.3 35

 Memo:

 Replacement-cost value of structures:

 36 Residential 1525.4 1588.1 1664.8 1755.0 1847.4 1941.2 2040.4 2142.2 2267.3 2475.6 36

 37 Nonresidential 815.1 841.8 881.7 928.4 974.8 1031.9 1086.9 1131.8 1172.2 1287.8 37

 38 Debt/net worth (percent) (line 27/line 35) 33.45 34.30 33.60 35.92 38.39 38.54 40.18 40.53 37.90 35.05 38

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Included in table B.101, line 29.
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132 Historical Annuals, 1995-2004, March 10, 2016

R.101 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 2442.0 1681.8 3419.1 3807.2 4703.6 687.8 473.5 -456.4 5336.4 6946.0 1

 2 Net investment 517.0 543.7 496.3 632.9 490.5 250.6 429.3 361.6 577.7 840.5 2

 3 Net physical investment 244.8 288.6 323.0 404.4 472.0 515.3 510.1 546.5 596.8 691.3 3

 4 Capital expenditures 899.6 971.6 1034.2 1151.0 1261.9 1365.9 1413.7 1496.4 1600.2 1768.4 4

 5 - Consumption of fixed capital 654.8 683.0 711.2 746.6 789.9 850.6 903.7 949.9 1003.4 1077.1 5

 6 Net lending (+) or net borrowing (-) 272.3 255.0 173.3 228.5 18.5 -264.6 -80.8 -184.9 -19.2 149.2 6

 7 Net acquisition of financial assets 603.9 604.5 526.2 669.6 573.8 320.9 544.3 599.0 1025.5 1300.6 7

 8 - Net increase in liabilities 331.6 349.4 352.8 441.2 555.3 585.6 625.1 783.9 1044.7 1151.4 8

 Holding gains on assets

 9 at market value (2) 1887.5 1084.4 2966.4 3133.5 4128.4 778.0 14.9 -797.8 4562.9 5117.8 9

 10 Real estate 153.3 213.8 421.5 733.6 775.7 1485.6 1101.7 1123.8 1368.9 2448.0 10

 11 Corporate equities 1212.1 390.6 1614.3 1631.6 2225.7 -733.4 -627.4 -1449.2 1695.4 964.9 11

 12 Mutual fund shares 106.4 152.2 191.7 208.0 412.6 -257.7 -216.7 -456.7 407.0 318.3 12

 13 Equity in noncorporate business 156.6 122.0 401.3 276.7 302.8 501.6 218.4 400.9 530.7 1154.5 13

 14 Life insurance reserves 0.0 0.0 -5.0 5.7 12.5 -14.9 -16.6 -21.3 23.8 14.1 14

 15 Pension entitlements 259.1 205.8 342.6 277.9 399.2 -203.2 -444.4 -395.3 537.1 218.1 15

 16 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Holding gains on assets

 17 at current cost (2) 10.5 -13.8 -40.6 -55.6 -58.7 -38.1 -72.7 -78.6 -89.2 -37.6 17

 18 Consumer durable goods 10.6 -11.6 -37.5 -51.8 -56.1 -36.0 -68.1 -75.6 -88.0 -34.5 18

 19 Equipment -0.5 -2.0 -3.1 -3.8 -3.3 -2.6 -2.9 -1.9 -1.7 -2.0 19

 20 Intellectual property products 0.5 -0.2 0.0 0.1 0.6 0.5 -1.7 -1.0 0.5 -1.1 20

 21 Other volume changes (3) 26.9 67.5 -3.1 96.3 143.4 -302.6 102.0 58.4 285.0 1025.2 21

 Memo:

 22 Net worth outstanding (4) 29233.6 30915.4 34334.5 38141.7 42845.3 43533.1 44006.6 43550.2 48886.6 55832.5 22

 23 Disposable personal income 5532.6 5829.9 6148.8 6561.3 6876.3 7400.5 7752.3 8099.2 8485.8 9002.3 23

(1) Sum of net investment (line 2), holding gains (lines 9 and 17), and other volume changes (line 21).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.101, line 41.
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Historical Annuals, 1995-2004, March 10, 2016 133

R.103 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 471.6 362.5 1078.4 883.1 820.0 1454.4 -115.0 346.0 566.4 1886.4 1

 2 Net investment 235.0 247.3 211.8 49.5 235.7 266.0 256.8 172.1 218.5 321.8 2

 3 Net physical investment 260.6 245.0 309.3 314.5 369.6 418.6 227.2 145.9 171.3 250.3 3

 4 Capital expenditures 764.7 804.2 920.7 966.8 1047.4 1142.1 1019.0 955.2 978.7 1059.6 4

 5 - Consumption of fixed capital 522.3 556.1 597.3 636.6 681.8 740.2 783.7 803.2 816.9 848.8 5

 6 - Inventory valuation adjustment -18.3 3.1 14.1 15.7 -4.0 -16.8 8.0 6.1 -9.6 -39.5 6

 7 Net lending (+) or net borrowing (-) 32.7 49.6 -20.1 -49.5 -23.5 -34.5 77.7 50.3 72.7 165.0 7

 8 Net acquisition of financial assets 424.7 449.5 265.0 568.4 965.5 1203.9 175.7 138.6 86.1 779.1 8

 9 - Net increase in liabilities 392.1 399.9 285.1 617.9 989.1 1238.3 97.9 88.3 13.4 614.1 9

 10 Net corporate equity issues -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 10

 Holding gains on assets

 11 at market value (2) 77.3 -9.1 717.3 446.9 131.9 535.8 -201.2 260.6 182.7 1210.6 11

 12 Real estate 67.4 -16.9 707.1 438.3 112.1 545.4 -187.8 278.5 164.6 1198.6 12

 13 Mutual fund shares 10.0 7.8 10.2 8.6 19.8 -9.6 -13.4 -17.9 18.2 11.9 13

 Holding gains on assets less

 14 liabilities at current cost (2) 63.1 44.5 -8.0 23.7 128.9 -22.5 -1.6 70.8 17.0 182.7 14

 15 Equipment 33.6 0.3 -26.3 -35.3 -21.1 -7.0 -35.0 -34.0 -24.5 64.9 15

 16 Intellectual property products 17.1 8.0 13.1 11.5 29.6 25.3 -11.4 -1.3 21.5 10.9 16

 17 Inventories (3) 6.0 7.1 -4.8 -14.9 23.0 14.3 -24.7 27.0 21.6 41.4 17

 18 Direct investment abroad 2.8 11.0 -17.6 -21.3 9.0 -37.1 14.4 -9.0 7.9 77.2 18

 19 - Foreign direct investment in U.S. -3.6 -18.0 -27.7 -83.6 -88.4 18.0 -55.1 -88.1 9.5 11.8 19

 20 Other volume changes (4) 96.2 79.8 157.2 363.0 323.5 675.2 -168.9 -157.5 148.2 171.3 20

 Memo:

 21 Net worth outstanding (5) 6203.4 6565.9 7644.3 8527.4 9347.3 10801.7 10686.8 11032.8 11599.2 13485.6 21

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 38.
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134 Historical Annuals, 1995-2004, March 10, 2016

R.104 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Change in net worth (1) 174.8 117.9 379.2 239.5 232.0 482.0 203.2 330.8 576.7 1220.2 1

 2 Net capital transfers paid -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 2

 3 Net investment 19.7 -3.3 -20.2 -35.7 -68.8 -19.3 -15.3 -72.0 57.4 79.6 3

 4 Net physical investment 16.7 36.2 43.4 47.4 57.7 65.4 45.7 47.2 47.4 64.2 4

 5 Capital expenditures 139.1 163.0 175.3 186.2 205.5 224.7 215.7 226.5 237.0 267.3 5

 6 - Consumption of fixed capital 122.4 126.7 131.9 138.8 147.8 159.3 170.0 179.3 189.5 203.1 6

 7 Net lending (+) or net borrowing (-) -16.3 -36.2 -43.4 -47.4 -57.3 -65.4 -44.4 -47.2 -47.4 -59.1 7

 8 Net acquisition of financial assets 76.2 94.7 131.0 222.6 185.0 246.8 156.9 78.6 80.5 370.8 8

 9 - Net increase in liabilities 92.6 131.0 174.4 270.1 242.3 312.2 201.2 125.8 127.9 430.0 9

 10 Proprietor’s net investment (2) 19.4 -3.3 -20.2 -35.7 -69.2 -19.3 -16.7 -72.0 57.4 74.6 10

 11 Holding gains on real estate (3) 134.1 84.0 400.6 288.7 292.4 487.2 218.1 387.4 492.7 1121.5 11

 12 Residential 86.4 68.3 166.3 141.9 227.6 295.4 243.9 328.0 376.2 662.8 12

 13 Nonresidential 47.6 15.7 234.3 146.8 64.8 191.9 -25.9 59.4 116.5 458.7 13

 14 Holding gains on assets at current cost (3) 21.4 37.2 -1.1 -13.5 9.3 14.0 1.2 15.4 26.7 25.6 14

 15 Residential equipment 0.0 0.4 -0.5 -0.3 -0.4 -0.0 -0.1 -0.6 -1.4 -0.5 15

 16 Nonresidential equipment 13.4 9.0 3.9 5.1 2.4 4.6 6.6 5.6 11.9 24.3 16

 17 Intellectual property products 2.0 1.3 1.7 1.6 3.5 3.5 0.8 2.5 4.6 5.1 17

 18 Inventories 4.0 27.4 -6.9 -20.6 3.3 5.7 -6.1 8.2 11.0 -3.4 18

 19 - Foreign direct investment in U.S. -2.0 0.9 -0.7 -0.6 -0.5 -0.3 0.1 0.3 -0.6 -0.0 19

 20 Other volume changes (4) -0.1 -0.0 -0.0 0.0 -0.4 0.0 0.7 0.0 0.0 -1.6 20

 Memo:

 21 Net worth outstanding (5) 3511.8 3629.6 4008.9 4248.4 4480.4 4962.4 5165.6 5496.4 6073.2 7293.3 21

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Shown on table F.104, line 32.

(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.104, line 35.
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Historical Annuals, 1995-2004, March 10, 2016 135

B.101.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Assets 34275.4 36319.6 40091.5 44339.9 49598.8 50882.0 51980.6 52308.1 58719.3 66836.6 1

 2 Nonfinancial assets 11497.8 11985.2 12688.1 13778.8 14963.3 16923.4 18456.8 20045.5 21919.4 25006.1 2

 3 Financial assets 22777.6 24334.5 27403.5 30561.0 34635.5 33958.6 33523.8 32262.6 36799.9 41830.5 3

 4 Deposits 3427.7 3568.1 3735.4 3940.1 4126.9 4462.5 4984.4 5240.4 5481.1 5843.2 4

 5 Debt securities 2274.9 2414.3 2352.2 2381.5 2489.5 2369.6 2141.6 2151.9 2322.8 3226.6 5

 6 Loans 259.1 296.1 319.0 387.2 452.3 566.6 614.0 561.8 646.4 773.8 6

 7 Equity shares at market value 6191.6 6942.9 9165.5 11252.6 14370.8 12480.7 10925.3 8460.7 11284.3 12788.4 7

 8 Directly held 4434.2 4667.7 6043.7 7389.5 9465.6 7821.9 6704.4 5072.6 6662.9 7352.8 8

 9 Indirectly held 1757.4 2275.2 3121.8 3863.1 4905.2 4658.8 4220.9 3388.0 4621.5 5435.5 9

 10 Life insurance companies 274.7 373.3 510.5 665.4 904.4 882.8 806.5 692.5 887.3 1028.9 10

 11 Private pension funds (1) 738.9 856.9 1185.5 1427.2 1684.5 1645.7 1483.4 1240.8 1657.7 1881.5 11

 12 Federal govt. retirement funds (1) 11.5 18.8 29.9 43.0 56.9 56.6 49.1 39.0 62.1 79.9 12

 13 State and local govt. retirement funds (1) 39.2 46.0 131.0 164.6 203.1 191.7 169.1 139.7 184.2 209.4 13

 14 Mutual funds 693.2 980.2 1264.9 1562.9 2056.3 1881.9 1712.8 1276.0 1830.1 2235.9 14

 15 Other 10624.4 11113.1 11831.4 12599.6 13196.0 14079.2 14858.4 15847.9 17065.3 19198.5 15

 16 Liabilities 5041.7 5404.2 5757.0 6198.2 6753.5 7348.9 7974.0 8757.9 9832.7 11004.1 16

 17 Net worth 29233.6 30915.4 34334.5 38141.7 42845.3 43533.1 44006.6 43550.2 48886.6 55832.5 17

 Memo:

 Equity shares (line 7) as a percent of

 18 Total assets (line 1) 18.06 19.12 22.86 25.38 28.97 24.53 21.02 16.17 19.22 19.13 18

 19 Financial assets (line 3) 27.18 28.53 33.45 36.82 41.49 36.75 32.59 26.22 30.66 30.57 19

(1) Defined contribution plans. Assets held by defined benefit pension funds are not considered assets of the household sector. Defined benefit pension entitlements are included in line 15.
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136 Historical Annuals, 1995-2004, March 10, 2016

S.1.a Total Economy - Current Account

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross value added 7573.5 8043.6 8596.2 9149.3 9698.1 10384.3 10736.8 11050.3 11524.3 12283.5 1

 (income approach)

 2 Less: Consumption of fixed capital 1122.8 1176.0 1240.0 1310.3 1400.9 1514.2 1604.0 1662.1 1727.2 1831.7 2

 3 Equals: Net value added 6450.7 6867.6 7356.3 7839.1 8297.3 8870.0 9132.8 9388.2 9797.1 10451.8 3

 4 Compensation of employees (paid) 4206.7 4426.2 4719.1 5082.4 5417.5 5863.1 6053.8 6149.7 6372.7 6748.8 4

 5 Wages and salaries 3422.1 3620.6 3881.2 4186.2 4465.2 4832.4 4961.6 5004.2 5146.1 5431.2 5

 6 Employers’ social contributions 784.6 805.6 837.8 896.2 952.3 1030.7 1092.1 1145.5 1226.6 1317.6 6

 7 Taxes on production and imports less subsidies 523.1 545.5 577.8 603.1 628.4 662.7 669.0 721.2 758.9 817.6 7

 8 Operating surplus, net 1720.9 1895.9 2059.4 2153.6 2251.4 2344.1 2410.1 2517.3 2665.4 2885.5 8

 9 Plus: Income receipts from the rest of the world 229.8 246.4 280.1 286.8 321.4 382.7 325.3 315.8 356.1 451.4 9

10 Less: Income payments to the rest of the world 201.1 214.6 256.0 268.5 294.3 345.7 273.5 267.2 289.0 362.3 10

11 Equals: Net national income/Balance of primary incomes, net 6479.5 6899.4 7380.4 7857.3 8324.4 8907.0 9184.6 9436.8 9864.2 10540.9 11

12 Operating surplus, net 1720.9 1895.9 2059.4 2153.6 2251.4 2344.1 2410.1 2517.3 2665.4 2885.5 12

13 Compensation of employees (received) 4202.6 4422.1 4714.7 5077.8 5410.3 5856.6 6046.5 6141.9 6364.5 6739.5 13

14 Wages and salaries 3418.0 3616.5 3876.8 4181.6 4458.0 4825.9 4954.4 4996.4 5137.8 5421.9 14

15 Employers’ social contributions 784.6 805.6 837.8 896.2 952.3 1030.7 1092.1 1145.5 1226.6 1317.6 15

16 Taxes on production and imports, receivable 557.9 580.8 611.6 639.5 673.6 708.6 727.7 762.6 808.0 863.9 16

17 Subsidies paid -34.8 -35.2 -33.8 -36.4 -45.2 -45.8 -58.7 -41.4 -49.1 -46.4 17

18 Property income (received) 3327.3 3530.6 3803.4 4022.7 4192.1 4725.5 4694.5 4402.4 4425.3 4880.3 18

19 Interest 2317.7 2384.6 2551.0 2703.8 2796.9 3198.6 3125.8 2758.3 2661.6 2828.3 19

20 Distributed income of corporations 933.3 1067.0 1167.6 1246.5 1301.3 1397.5 1457.7 1518.4 1600.1 1842.3 20

21 Dividends 390.8 458.3 515.9 537.4 536.7 576.6 552.4 581.1 632.0 809.8 21

22 Withdrawals from income of quasi-corporations 542.5 608.7 651.7 709.1 764.5 820.9 905.3 937.4 968.1 1032.5 22

23 Reinvested earnings on U.S. direct investment abroad 68.8 70.3 75.5 63.5 84.8 116.9 96.1 112.6 149.0 192.5 23

24 Rents on land and natural resources 7.5 8.7 9.3 8.9 9.2 12.5 14.9 13.1 14.6 17.1 24

25 Less: Uses of property income (paid) 3294.4 3494.7 3774.9 3999.9 4157.8 4681.9 4635.5 4346.0 4350.0 4781.9 25

26 Interest 2377.8 2450.7 2630.1 2783.8 2884.6 3301.2 3237.2 2860.6 2752.9 2935.0 26

27 Distributed income of corporations 900.5 1026.6 1120.4 1204.2 1259.8 1368.2 1417.0 1470.5 1568.0 1779.9 27

28 Dividends 358.0 417.9 468.7 495.1 495.2 547.4 511.8 533.2 599.9 747.5 28

29 Withdrawals from income of quasi-corporations 542.5 608.7 651.7 709.1 764.5 820.9 905.3 937.4 968.1 1032.5 29

30 Reinvested earnings on foreign direct investment 8.6 8.7 15.2 3.0 4.3 -0.1 -33.7 1.8 14.5 49.8 30

31 Rents on land and natural resources 7.5 8.7 9.3 8.9 9.2 12.5 14.9 13.1 14.6 17.1 31

32 Net national income/Balance of primary incomes, net 6479.5 6899.4 7380.4 7857.3 8324.4 8907.0 9184.6 9436.8 9864.2 10540.9 32

33 Plus: Current taxes on income, wealth, etc. (received) 963.3 1065.9 1174.1 1277.3 1366.8 1498.6 1440.5 1243.6 1246.1 1352.6 33

34 Less: Current taxes on income, wealth, etc. (paid) 966.2 1068.6 1177.2 1280.8 1370.9 1501.6 1442.6 1247.0 1249.1 1356.7 34

35 Plus: Social benefits (received) 1400.2 1464.2 1525.7 1585.7 1656.8 1754.3 1882.8 2005.7 2104.2 2238.1 35

36 Less: Social contributions (paid) 1404.3 1469.0 1530.5 1590.8 1662.0 1759.4 1888.5 2011.6 2110.4 2244.4 36

37 Plus: Other current transfers (received) 250.7 270.0 275.6 301.0 333.7 366.9 405.4 424.5 457.4 468.8 37

38 Less: Other current transfers (paid) 287.7 312.1 319.0 352.4 381.5 423.7 469.5 488.1 527.4 555.4 38

39 Equals: Disposable income, net 6435.4 6849.9 7328.9 7797.3 8267.3 8842.1 9112.7 9363.9 9785.0 10444.0 39

40 Less: Final consumption expenditures 6128.7 6444.6 6785.3 7175.1 7664.6 8236.6 8648.2 9035.4 9521.1 10129.0 40

41 Equals: Net saving 306.8 405.3 543.6 622.1 602.7 605.5 464.5 328.5 263.9 315.0 41

 Addendum:

42 Gross value added (line 1) 7573.5 8043.6 8596.2 9149.3 9698.1 10384.3 10736.8 11050.3 11524.3 12283.5 42

43 Plus statistical discrepancy (NIPA) 90.6 56.6 12.3 -60.2 -37.5 -99.5 -115.0 -72.8 -13.6 -8.6 43

44 Equals: GDP (NIPA, expenditure approach) 7664.1 8100.2 8608.5 9089.2 9660.6 10284.8 10621.8 10977.5 11510.7 12274.9 44

45 Average of GDP and GDI 7618.8 8071.9 8602.4 9119.2 9679.4 10334.5 10679.3 11013.9 11517.5 12279.2 45

46 Statistical discrepancy as a percentage of GDP 1.18 0.70 0.14 -0.66 -0.39 -0.97 -1.08 -0.66 -0.12 -0.07 46
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 1 Gross value added 7573.5 8043.6 8596.2 9149.3 9698.1 10384.3 10736.8 11050.3 11524.3 12283.5 1

 2 Households and nonprofit institutions serving households 885.7 931.6 984.3 1049.5 1122.1 1202.7 1279.4 1357.2 1427.0 1510.9 2

 3 Nonfinancial noncorporate business 1049.5 1132.4 1209.8 1311.6 1392.9 1506.4 1728.2 1812.5 1911.9 2079.1 3

 4 Nonfinancial corporate business 4041.4 4296.1 4608.4 4873.7 5169.9 5513.0 5471.2 5538.9 5724.5 6107.9 4

 5 Financial business 501.0 558.2 630.8 707.5 743.8 821.9 847.2 849.0 885.6 922.1 5

 6 Federal government 385.5 385.5 390.4 395.5 405.6 423.1 431.0 462.6 498.1 525.8 6

 7 State and local government 710.4 739.9 772.6 811.5 863.9 917.2 979.9 1030.1 1077.2 1137.7 7

 8 Net saving 306.8 405.3 543.6 622.1 602.7 605.5 464.5 328.5 263.9 315.0 8

 9 Households and nonprofit institutions serving households 352.9 345.2 352.2 405.3 303.3 307.7 335.2 405.3 409.6 409.4 9

10 Nonfinancial corporate business 211.4 245.3 267.5 211.0 221.3 161.7 138.1 213.4 273.2 312.7 10

11 Financial business 14.8 5.8 13.4 -12.4 2.3 -30.3 42.1 101.3 105.5 100.5 11

12 Federal government -240.8 -178.5 -91.2 2.7 66.6 156.5 14.5 -270.5 -402.9 -399.2 12

13 State and local government -31.5 -12.5 1.7 15.4 9.2 9.9 -65.3 -120.9 -121.4 -108.4 13

 Net capital transfers

14 Households and nonprofit institutions serving households 18.9 23.1 27.0 32.4 36.3 35.6 30.3 29.1 13.1 1.4 14

15 Nonfinancial noncorporate business -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 15

16 Nonfinancial corporate business -0.4 0.0 0.0 0.0 -0.9 0.0 -12.5 -0.0 -0.1 -6.7 16

17 Financial business 1.9 0.0 0.0 0.0 1.7 0.0 7.7 0.0 0.0 16.2 17

18 Federal government 13.0 10.9 8.7 3.8 7.8 8.9 14.6 24.4 41.1 39.3 18

19 State and local government -32.4 -33.8 -35.2 -35.9 -40.0 -44.2 -51.7 -52.9 -52.0 -48.0 19

20 Rest of the world -0.6 -0.2 -0.4 -0.2 -4.5 -0.4 12.9 -0.6 -2.2 2.8 20

21 Gross fixed capital formation 1594.0 1721.2 1854.2 2013.0 2191.8 2369.5 2380.6 2350.1 2473.9 2701.3 21

22 Households and nonprofit institutions serving households 318.2 354.0 380.6 435.3 474.0 503.1 534.9 580.1 653.9 765.9 22

23 Nonfinancial noncorporate business 147.9 154.9 167.9 181.3 203.6 221.6 220.5 229.3 238.3 260.3 23

24 Nonfinancial corporate business 721.5 782.5 860.6 915.2 991.2 1095.7 1057.4 941.2 960.0 1010.1 24

25 Financial business (nonresidential) 98.7 109.9 115.7 139.9 154.7 158.8 154.1 155.9 156.5 176.5 25

26 Federal government 147.7 149.8 143.7 147.7 154.9 157.4 163.8 180.3 196.4 211.0 26

27 State and local government 160.0 170.2 185.8 193.7 213.6 232.9 249.8 263.3 268.9 277.5 27

28 Consumption of fixed capital 1122.8 1176.0 1240.0 1310.3 1400.9 1514.2 1604.0 1662.1 1727.2 1831.7 28

29 Households and nonprofit institutions serving households 164.8 172.7 182.1 194.5 210.9 230.1 250.2 266.6 290.8 323.4 29

30 Nonfinancial noncorporate business 120.6 124.9 130.0 136.7 145.4 156.3 166.6 174.6 183.6 196.4 30

31 Nonfinancial corporate business 523.7 557.4 598.4 638.2 683.4 741.9 785.3 804.7 818.0 850.2 31

32 Financial business (nonresidential) 73.5 76.1 79.6 85.5 96.2 108.3 115.6 122.1 130.0 139.3 32

33 Federal government 151.9 152.4 153.0 153.6 156.8 161.5 163.3 165.0 170.3 178.6 33

34 State and local government 88.3 92.6 96.9 101.8 108.1 116.2 123.0 129.0 134.5 143.8 34

35 Change in inventories 31.2 30.8 70.9 63.7 60.8 54.5 -38.3 18.5 19.3 63.9 35

36 Nonfinancial noncorporate business -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 36

37 Nonfinancial corporate business 38.5 21.5 62.2 57.2 57.2 50.3 -34.3 18.3 17.1 50.3 37

38 Net lending (+) or net borrowing (-) (capital account) -196.0 -170.9 -142.1 -144.6 -253.6 -304.6 -260.9 -378.5 -504.2 -615.6 38

39 Households and nonprofit institutions serving households 185.4 145.4 131.6 138.1 10.6 5.8 28.0 71.0 41.8 -25.8 39

40 Nonfinancial noncorporate business -19.6 -39.3 -46.7 -51.1 -61.4 -69.5 -48.6 -54.9 -56.9 -72.4 40

41 Nonfinancial corporate business -30.4 -4.8 -64.7 -127.4 -142.0 -241.2 -86.3 61.2 116.3 111.0 41

42 Financial business -12.3 -28.0 -22.8 -66.8 -57.9 -80.8 -4.2 67.5 78.9 47.1 42

43 Federal government -241.6 -182.0 -81.7 10.9 62.0 152.3 0.8 -309.9 -469.1 -470.1 43

44 State and local government -77.5 -62.2 -57.9 -48.3 -64.8 -71.2 -150.5 -213.5 -215.2 -205.4 44

 Addendum:

45 Statistical discrepancy (NIPA) 90.6 56.6 12.3 -60.2 -37.5 -99.5 -115.0 -72.8 -13.6 -8.6 45

46 Rest of the world 105.5 114.3 129.8 204.7 291.1 404.1 375.8 451.3 517.8 624.2 46

47 Net lending (+) or net borrowing (-) (financial account) 136.5 37.6 32.2 115.9 3.0 -270.6 -153.9 -697.5 -561.2 -396.1 47

48 Households and nonprofit institutions serving households 272.3 255.0 173.3 228.5 18.5 -264.6 -80.8 -184.9 -19.2 149.2 48

49 Nonfinancial noncorporate business -16.3 -36.2 -43.4 -47.4 -57.3 -65.4 -44.4 -47.2 -47.4 -59.1 49

50 Nonfinancial corporate business 32.7 49.6 -20.1 -49.5 -23.5 -34.5 77.7 50.3 72.7 165.0 50

51 Financial business 107.1 -6.5 17.4 -4.2 31.1 -51.5 -6.5 5.5 186.8 -14.7 51

52 Federal government -253.9 -194.0 -87.0 -8.3 78.4 147.1 -12.5 -326.6 -530.9 -474.1 52

53 State and local government -5.2 -30.2 -8.0 -3.1 -44.2 -1.7 -87.5 -194.6 -223.1 -162.4 53

 Addendum:

54 Rest of the world 50.4 119.0 151.7 86.5 173.5 321.8 367.6 406.9 327.2 452.1 54

 Total other volume changes

55 Households and nonprofit institutions serving households 209.9 289.1 168.0 356.3 366.8 -324.0 226.5 43.7 466.2 1457.7 55

56 Nonfinancial noncorporate business 18.9 -3.3 -20.2 -35.7 -70.0 -19.3 -17.3 -72.0 57.4 68.0 56

57 Nonfinancial corporate business 177.6 129.1 178.9 417.0 447.3 897.6 -14.7 -174.7 118.9 267.2 57

58 Financial business -309.1 -285.5 -387.7 -203.0 -454.5 506.8 322.7 559.6 -702.5 -380.5 58

59 Federal government 6.9 62.4 12.7 -17.8 35.3 20.7 -10.8 -22.8 -95.0 -28.2 59

60 State and local government 224.5 169.3 270.9 207.6 255.8 -85.9 -165.5 -350.4 337.5 -707.2 60

61 Rest of the world -21.5 4.6 21.9 -118.2 -112.5 -93.0 -86.7 -57.8 -122.1 -179.6 61

 Holding gains/losses

62 Households and nonprofit institutions serving households 1898.0 1070.6 2925.9 3077.9 4069.7 739.8 -57.8 -876.3 4473.7 5080.2 62

63 Nonfinancial noncorporate business 153.5 122.1 398.8 274.6 301.2 501.0 219.3 403.1 518.7 1147.1 63

64 Nonfinancial corporate business -1527.8 -363.2 -1219.7 -2022.6 -3186.8 2445.9 1140.3 2930.6 -2462.5 62.0 64

65 Financial business 25.4 -346.6 -328.9 250.0 549.9 -773.0 -156.4 -167.8 109.9 91.3 65

66 Federal government 47.2 31.4 35.2 40.5 62.0 47.8 22.7 35.5 47.7 115.7 66

67 State and local government 121.8 89.1 118.3 140.7 177.0 157.9 105.9 85.5 120.5 516.3 67

68 Rest of the world 30.8 -117.2 63.1 13.1 -363.7 148.9 117.2 -265.4 -370.9 -363.6 68
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Change in net worth

69 Households and nonprofit institutions serving households 2442.0 1681.8 3419.1 3807.2 4703.6 687.8 473.5 -456.4 5336.4 6946.0 69

70 Nonfinancial noncorporate business 174.8 117.9 379.2 239.5 232.0 482.0 203.2 330.8 576.7 1220.2 70

71 Nonfinancial corporate business -1138.4 11.1 -773.2 -1394.6 -2517.3 3505.3 1276.3 2969.3 -2070.3 648.6 71

72 Financial business -270.9 -626.3 -703.2 34.7 96.0 -296.5 200.6 493.1 -487.1 -204.9 72

73 Federal government -199.7 -95.6 -51.9 21.6 156.2 216.1 11.8 -282.2 -491.3 -351.1 73

74 State and local government 347.2 279.8 426.0 399.5 482.0 126.1 -73.1 -333.0 388.5 -251.3 74

75 Rest of the world 114.8 1.7 214.8 99.6 -185.2 460.0 406.3 128.1 24.8 81.0 75

 Net worth

76 Households and nonprofit institutions serving households 29233.6 30915.4 34334.5 38141.7 42845.3 43533.1 44006.6 43550.2 48886.6 55832.5 76

77 Nonfinancial noncorporate business 3511.8 3629.6 4008.9 4248.4 4480.4 4962.4 5165.6 5496.4 6073.2 7293.3 77

78 Nonfinancial corporate business -203.3 -192.2 -965.4 -2360.0 -4877.4 -1372.1 -95.8 2873.5 803.2 1451.8 78

79 Financial business 160.4 -465.9 -1169.1 -1134.4 -1038.4 -1334.9 -1134.3 -641.3 -1128.4 -1333.3 79

80 Federal government -3137.0 -3232.7 -3284.6 -3262.9 -3106.8 -2890.6 -2878.8 -3161.0 -3652.3 -4003.4 80

81 State and local government 3057.3 3337.1 3763.1 4162.7 4644.7 4770.8 4697.7 4364.7 4753.2 4502.0 81

82 Rest of the world 432.6 434.3 649.1 748.7 563.5 1023.5 1429.8 1557.9 1582.7 1663.7 82
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Historical Annuals, 1995-2004, March 10, 2016 139

S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 885.7 931.6 984.3 1049.5 1122.1 1202.7 1279.4 1357.2 1427.0 1510.9 1

 2 Less: Consumption of fixed capital 164.8 172.7 182.1 194.5 210.9 230.1 250.2 266.6 290.8 323.4 2

 3 Equals: Net value added 720.9 758.9 802.2 854.9 911.1 972.7 1029.2 1090.6 1136.3 1187.5 3

 4 Compensation paid by households and NPISHs 324.2 339.7 358.2 385.0 407.6 434.9 453.4 489.1 517.7 545.6 4

 5 Wages and salaries 278.5 292.4 308.7 330.0 347.3 371.4 386.7 412.1 432.5 452.2 5

 6 Employers’ social contributions 45.6 47.3 49.5 54.9 60.2 63.5 66.7 77.0 85.2 93.4 6

 7 Taxes on production and imports less subsidies 77.5 80.0 82.9 84.4 87.3 90.3 95.3 103.0 108.8 114.7 7

 8 Operating surplus, net 319.2 339.2 361.1 385.6 416.3 447.5 480.5 498.5 509.7 527.2 8

 9 Net national income/Balance of primary incomes, net 5789.4 6133.1 6545.5 7052.8 7435.4 8038.9 8308.0 8410.3 8717.6 9244.8 9

10 Operating surplus, net 319.2 339.2 361.1 385.6 416.3 447.5 480.5 498.5 509.7 527.2 10

11 Compensation of employees (received) 4202.6 4422.1 4714.7 5077.8 5410.3 5856.6 6046.5 6141.9 6364.5 6739.5 11

12 Wages and salaries 3418.0 3616.5 3876.8 4181.6 4458.0 4825.9 4954.4 4996.4 5137.8 5421.9 12

13 Employers’ social contributions 784.6 805.6 837.8 896.2 952.3 1030.7 1092.1 1145.5 1226.6 1317.6 13

14 Property income (received) 1657.5 1786.2 1911.2 2052.7 2095.3 2275.5 2347.8 2329.0 2389.8 2537.5 14

15 Interest 857.0 875.3 921.6 988.2 984.4 1071.3 1073.3 993.0 989.5 942.9 15

16 Distributed income of corporations 800.5 910.9 989.6 1064.5 1110.9 1204.2 1274.4 1336.0 1400.3 1594.5 16

17 Dividends 258.0 302.2 337.9 355.4 346.4 383.3 369.2 398.6 432.3 562.1 17

18 Withdrawals from income of quasi-corporations (1) 542.5 608.7 651.7 709.1 764.5 820.9 905.3 937.4 968.1 1032.5 18

19 Less: Uses of property income (interest paid) 389.9 414.4 441.5 463.3 486.5 540.7 566.8 559.2 546.5 559.5 19

20 Net national income/Balance of primary incomes, net 5789.4 6133.1 6545.5 7052.8 7435.4 8038.9 8308.0 8410.3 8717.6 9244.8 20

21 Less: Current taxes on income, wealth, etc. (paid) 748.4 837.1 931.8 1032.4 1112.1 1236.6 1239.3 1054.7 1005.3 1050.6 21

22 Plus: Social benefits (received) 864.7 906.3 935.4 957.9 992.2 1044.9 1145.8 1250.5 1321.1 1404.6 22

23 Less: Social contributions (paid) 532.8 555.1 587.2 624.7 661.3 705.8 733.2 751.5 779.3 829.2 23

24 Plus: Other current transfers (received) 18.7 22.9 19.4 26.0 34.0 42.4 46.8 34.2 26.3 16.8 24

25 Less: Other current transfers (paid) 54.6 56.9 68.4 71.3 77.8 83.7 89.8 99.5 105.2 116.8 25

26 Equals: Disposable income, net 5337.1 5613.3 5912.9 6308.4 6610.3 7100.1 7438.3 7789.3 8175.1 8669.4 26

27 Less: Final consumption expenditures 4984.2 5268.1 5560.7 5903.0 6307.0 6792.4 7103.1 7384.1 7765.5 8260.0 27

28 Equals: Net saving 352.9 345.2 352.2 405.3 303.3 307.7 335.2 405.3 409.6 409.4 28

 Capital account

29 Net saving less capital transfers 334.0 322.1 325.2 372.9 267.0 272.0 304.8 376.2 396.4 408.1 29

30 Net saving 352.9 345.2 352.2 405.3 303.3 307.7 335.2 405.3 409.6 409.4 30

31 Less: Capital transfers paid (net) 18.9 23.1 27.0 32.4 36.3 35.6 30.3 29.1 13.1 1.4 31

32 Capital formation, net 148.6 176.7 193.6 234.9 256.4 266.2 276.9 305.2 354.6 433.8 32

33 Gross fixed capital formation, excluding consumer durables 318.2 354.0 380.6 435.3 474.0 503.1 534.9 580.1 653.9 765.9 33

34 Residential 266.6 299.2 312.5 355.0 388.2 408.2 435.7 473.9 541.9 643.9 34

35 Nonresidential (nonprofit organizations) 51.6 54.8 68.1 80.3 85.8 94.9 99.1 106.2 112.0 122.1 35

36 Less: Consumption of fixed capital 164.8 172.7 182.1 194.5 210.9 230.1 250.2 266.6 290.8 323.4 36

37 Acquisition of nonproduced nonfinancial assets -4.8 -4.6 -4.8 -5.9 -6.6 -6.8 -7.8 -8.3 -8.5 -8.7 37

38 Net lending (+) or borrowing (-), capital account (lines 29-32) 185.4 145.4 131.6 138.1 10.6 5.8 28.0 71.0 41.8 -25.8 38

 Financial account

39 Net lending (+) or borrowing (-) (line 38) 185.4 145.4 131.6 138.1 10.6 5.8 28.0 71.0 41.8 -25.8 39

40 Net acquisition of financial assets 603.9 604.5 526.2 669.6 573.8 320.9 544.3 599.0 1025.5 1300.6 40

41 Currency and deposits 82.4 112.3 108.4 112.0 78.1 190.6 358.2 292.1 271.0 405.1 41

42 Currency and transferable deposits -49.9 -41.7 -40.9 24.8 -19.8 -103.5 74.7 -16.0 -31.2 -58.2 42

43 Time and savings deposits 127.7 141.6 142.8 86.7 94.9 286.5 283.1 306.7 299.3 454.4 43

44 Foreign deposits 4.6 12.4 6.5 0.5 2.9 7.6 0.4 1.3 2.9 8.9 44

45 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Debt securities -1.0 63.2 -78.5 22.7 18.9 -79.9 -211.3 -14.3 -57.9 147.4 46

47 Open market paper 2.0 4.1 1.3 3.0 4.7 12.4 -9.2 -5.9 -4.9 6.4 47

48 Treasury securities -10.3 -13.8 -143.1 -70.6 2.5 -210.7 -89.5 -134.9 23.2 -10.7 48

49 Agency- and GSE-backed securities (2) 27.6 100.9 54.2 68.4 82.7 29.4 -139.1 -137.2 132.8 133.2 49

50 Municipal securities -60.5 -40.5 21.5 0.8 28.6 6.2 56.4 83.6 15.8 118.5 50

51 Corporate and foreign bonds 40.2 12.5 -12.4 21.1 -99.6 82.7 -30.0 180.2 -224.8 -99.9 51

52 Loans 22.5 37.0 22.9 68.2 65.1 114.3 47.4 -52.2 84.6 127.4 52

53 Short term 29.8 44.5 30.0 72.5 57.8 112.4 42.1 -60.1 79.6 117.0 53

54 Long term (mortgages) -7.2 -7.5 -7.1 -4.3 7.3 1.9 5.3 7.9 5.1 10.4 54
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140 Historical Annuals, 1995-2004, March 10, 2016

S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

55 Equity and investment fund shares 96.1 25.2 10.2 -54.5 -17.6 -412.5 -215.8 -206.9 96.3 -80.5 55

56 Corporate equities -72.2 -157.0 -221.5 -285.7 -149.6 -640.3 -490.1 -182.6 -105.1 -274.9 56

57 Mutual fund shares 50.0 156.7 180.4 172.2 97.9 79.4 130.5 79.7 261.4 180.0 57

58 Money market fund shares 99.3 28.5 70.4 96.1 102.0 167.9 163.7 -32.7 -113.9 -56.0 58

59 Equity in noncorporate business 18.9 -3.0 -19.1 -37.1 -68.0 -19.5 -19.9 -71.4 54.0 70.5 59

60 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 60

61 Insurance, pension and standardized guarantee schemes 403.8 366.7 463.1 521.2 429.4 508.5 565.7 580.4 631.6 701.1 61

62 Insurance receivables due from property-casualty insurance companies 9.6 2.8 2.0 -1.0 0.1 -0.7 12.5 21.6 22.9 23.6 62

63 Life insurance reserves 45.8 44.5 59.3 47.6 53.1 50.1 77.5 62.2 68.5 33.1 63

64 Pension entitlements (4) 340.4 311.7 391.1 464.4 364.9 452.2 469.2 486.4 506.7 615.6 64

65 Non-life insurance reserves at life insurance companies 8.0 7.8 10.7 10.3 11.4 6.9 6.5 10.2 13.9 11.4 65

66 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19.6 17.4 66

67 Net incurrence of liabilities 331.6 349.4 352.8 441.2 555.3 585.6 625.1 783.9 1044.7 1151.4 67

68 Debt securities (municipals) 0.2 6.1 7.1 11.8 10.4 5.8 13.8 12.6 13.8 14.7 68

69 Loans 322.8 334.5 336.5 422.1 538.6 575.9 613.5 751.4 1025.2 1118.7 69

70 Short term 169.8 125.3 117.5 110.7 156.8 180.7 96.5 33.2 146.8 179.0 70

71 Consumer credit 147.0 105.7 70.3 97.1 112.4 176.5 150.6 105.2 105.9 117.2 71

72 Depository institution loans n.e.c. 18.5 -10.1 9.8 -7.6 -25.9 -4.4 -16.1 -24.0 8.0 -20.0 72

73 Other loans and advances 4.3 29.7 37.4 21.2 70.4 8.5 -37.9 -48.0 32.8 81.8 73

74 Long term (mortgages) 153.1 209.2 219.0 311.3 381.8 395.2 517.0 718.2 878.4 939.7 74

75 Insurance, pension and standardized guarantee schemes 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 75

76 Other accounts payable (trade debt) 7.9 8.0 8.9 8.7 4.1 3.8 -1.9 19.1 4.8 16.5 76

 Addendum:

77 Net lending (+) or borrowing (-), financial account (lines 40-67) 272.3 255.0 173.3 228.5 18.5 -264.6 -80.8 -184.9 -19.2 149.2 77

 Other changes in volume account

78 Total other volume changes 209.9 289.1 168.0 356.3 366.8 -324.0 226.5 43.7 466.2 1457.7 78

79 Net investment in consumer durable goods 94.5 110.2 127.6 167.6 213.4 246.7 230.7 238.8 239.7 254.8 79

80 Disaster losses -1.2 0.0 0.0 0.0 -1.3 0.0 -2.0 0.0 0.0 -12.0 80

81 Other volume changes 29.8 69.2 -1.3 98.3 146.8 -300.3 106.5 60.9 287.6 1039.9 81

82 Less: Statistical discrepancy (lines 38-77) (5) -86.9 -109.6 -41.7 -90.4 -7.9 270.4 108.7 256.0 61.0 -175.0 82

 Revaluation account

83 Nonfinancial assets 163.8 200.1 380.9 678.0 717.0 1447.4 1029.0 1045.2 1279.7 2410.4 83

84 Real estate 153.3 213.8 421.5 733.6 775.7 1485.6 1101.7 1123.8 1368.9 2448.0 84

85 Consumer durable goods 10.6 -11.6 -37.5 -51.8 -56.1 -36.0 -68.1 -75.6 -88.0 -34.5 85

86 Equipment -0.5 -2.0 -3.1 -3.8 -3.3 -2.6 -2.9 -1.9 -1.7 -2.0 86

87 Intellectual property products 0.5 -0.2 0.0 0.1 0.6 0.5 -1.7 -1.0 0.5 -1.1 87

88 Financial assets 1734.2 870.6 2544.9 2399.9 3352.7 -707.6 -1086.7 -1921.5 3194.0 2669.8 88

89 Corporate equities 1212.1 390.6 1614.3 1631.6 2225.7 -733.4 -627.4 -1449.2 1695.4 964.9 89

90 Mutual fund shares 106.4 152.2 191.7 208.0 412.6 -257.7 -216.7 -456.7 407.0 318.3 90

91 Equity in noncorporate business 156.6 122.0 401.3 276.7 302.8 501.6 218.4 400.9 530.7 1154.5 91

92 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 92

93 Insurance, pension and standardized guarantee schemes 259.1 205.8 337.6 283.6 411.7 -218.1 -461.0 -416.6 560.9 232.2 93

94 Changes in net worth due to nominal holding gains/losses 1898.0 1070.6 2925.9 3077.9 4069.7 739.8 -57.8 -876.3 4473.7 5080.2 94

 Changes in balance sheet account

95 Change in net worth (lines 32+38+78+94) 2442.0 1681.8 3419.1 3807.2 4703.6 687.8 473.5 -456.4 5336.4 6946.0 95

 Balance sheet account (end of period)

96 Total assets 34275.4 36319.6 40091.5 44339.9 49598.8 50882.0 51980.6 52308.1 58719.3 66836.6 96

97 Nonfinancial assets 11497.8 11985.2 12688.1 13778.8 14963.3 16923.4 18456.8 20045.5 21919.4 25006.1 97

98 Real estate 8835.2 9220.5 9826.6 10788.6 11800.4 13532.2 14888.6 16295.1 17996.9 20841.7 98

99 Consumer durable goods 2529.3 2627.9 2718.0 2833.8 2991.1 3201.8 3364.3 3527.5 3679.2 3899.5 99

100 Equipment 90.1 91.4 94.6 103.6 114.3 127.3 140.2 155.9 171.8 189.4 100

101 Intellectual property products 43.2 45.3 48.9 52.9 57.5 62.0 63.8 67.1 71.6 75.5 101

102 Financial assets 22777.6 24334.5 27403.5 30561.0 34635.5 33958.6 33523.8 32262.6 36799.9 41830.5 102

103 Currency and deposits 2955.2 3067.1 3164.1 3272.7 3357.4 3525.2 3883.4 4172.0 4526.6 4944.8 103

104 Currency and transferable deposits 586.5 544.8 503.9 528.7 508.9 405.4 480.1 464.1 458.0 399.8 104

105 Foreign deposits 23.4 35.5 37.2 37.7 40.7 48.3 48.7 49.9 52.8 61.8 105

106 Time and savings deposits 2345.4 2486.9 2623.0 2706.3 2807.9 3071.5 3354.6 3657.9 4015.7 4483.2 106

107 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 107
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S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

108 Debt securities 2274.9 2414.3 2352.2 2381.5 2489.5 2369.6 2141.6 2151.9 2322.8 3226.6 108

109 Open market paper 71.7 75.8 77.1 80.2 84.9 97.3 88.2 82.2 77.3 83.7 109

110 Treasury securities 836.6 888.4 797.0 732.0 809.5 578.2 434.2 269.9 417.5 473.6 110

111 Agency- and GSE-backed securities (2) 216.3 332.6 390.3 441.5 540.5 587.9 385.0 241.5 376.7 443.8 111

112 Municipal securities 533.4 493.0 497.6 498.4 526.9 531.5 587.9 671.5 687.2 1522.9 112

113 Corporate and foreign bonds 616.9 624.5 590.1 629.5 527.8 574.7 646.3 886.8 764.1 702.6 113

114 Loans 259.1 296.1 319.0 387.2 452.3 566.6 614.0 561.8 646.4 773.8 114

115 Short term 145.5 190.0 220.0 292.5 350.3 462.6 504.8 444.6 524.2 641.1 115

116 Long term (mortgages) 113.6 106.1 99.0 94.7 102.0 104.0 109.2 117.2 122.2 132.6 116

117 Equity and investment fund shares 9676.7 10366.7 12506.4 14568.2 17490.8 16318.7 15476.5 13764.6 16494.0 18844.7 117

118 Corporate equities 4434.2 4667.7 6043.7 7389.5 9465.6 7821.9 6704.4 5072.6 6662.9 7352.8 118

119 Mutual fund shares 1253.0 1561.9 1873.1 2253.2 2763.7 2585.4 2499.2 2122.2 2790.6 3288.9 119

120 Money market fund shares 472.4 500.9 571.3 667.4 769.5 937.3 1101.0 1068.4 954.5 898.5 120

121 Equity in noncorporate business 3517.1 3636.1 4018.3 4258.0 4492.0 4974.0 5171.8 5501.4 6086.1 7304.5 121

122 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 Insurance, pension and standardized guarantee schemes 7611.7 8190.2 9061.8 9951.4 10845.5 11178.5 11408.3 11612.3 12810.1 14040.6 123

124 Insurance receivables due from property-casualty insurance companies 206.8 209.6 211.6 210.5 210.6 209.9 222.4 243.9 266.8 290.4 124

125 Life insurance reserves 566.2 610.6 665.0 718.3 783.9 819.1 880.0 920.9 1013.2 1060.4 125

126 Pension entitlements (4) 6717.2 7240.7 8045.3 8872.4 9689.0 9980.7 10130.5 10246.5 11295.6 12426.5 126

127 Non-life insurance reserves at life insurance companies 121.5 129.3 140.0 150.3 162.0 168.9 175.4 185.6 199.5 211.0 127

128 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 35.0 52.4 128

129 Total liabilities and net worth 34275.4 36319.6 40091.5 44339.9 49598.8 50882.0 51980.6 52308.1 58719.3 66836.6 129

130 Liabilities 5041.7 5404.2 5757.0 6198.2 6753.5 7348.9 7974.0 8757.9 9832.7 11004.1 130

131 Debt securities (municipals) 96.4 102.4 109.6 121.3 131.7 137.5 151.3 163.9 177.7 197.6 131

132 Loans 4826.8 5174.3 5510.8 5932.9 6471.4 7057.2 7670.7 8422.0 9477.3 10610.8 132

133 Short term 1406.0 1531.3 1648.8 1759.5 1918.7 2110.5 2207.0 2240.2 2407.3 2586.3 133

134 Consumer credit 1168.2 1273.9 1344.2 1441.3 1553.6 1741.3 1891.8 1997.0 2102.9 2220.1 134

135 Depository institution loans n.e.c. 50.8 40.7 50.5 42.9 19.3 14.9 -1.2 -25.2 3.2 -16.8 135

136 Other loans and advances 187.0 216.7 254.1 275.3 345.7 354.3 316.4 268.4 301.2 383.0 136

137 Long term (mortgages) 3420.8 3643.0 3862.0 4173.3 4552.8 4946.7 5463.7 6181.9 7070.0 8024.5 137

138 Insurance, pension and standardized guarantee schemes 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 138

139 Other accounts payable (trade debt) 101.1 109.1 118.0 126.8 130.9 134.7 132.9 152.0 156.8 173.3 139

140 Net worth 29233.6 30915.4 34334.5 38141.7 42845.3 43533.1 44006.6 43550.2 48886.6 55832.5 140

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

NPISHs Nonprofit institutions serving households

n.e.c. Not elsewhere classified
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142 Historical Annuals, 1995-2004, March 10, 2016

S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 1049.5 1132.4 1209.8 1311.6 1392.9 1506.4 1728.2 1812.5 1911.9 2079.1 1

 2 Less: Consumption of fixed capital 120.6 124.9 130.0 136.7 145.4 156.3 166.6 174.6 183.6 196.4 2

 3 Equals: Net value added 928.9 1007.5 1079.8 1174.9 1247.5 1350.1 1561.6 1637.9 1728.3 1882.7 3

 4 Compensation of employees (paid) 238.0 251.3 269.0 292.8 312.4 338.4 450.7 483.1 532.2 599.1 4

 5 Wages and salaries 204.1 216.0 232.4 252.5 271.3 294.1 384.1 408.9 447.5 503.5 5

 6 Employers’ social contributions 33.9 35.3 36.6 40.3 41.1 44.3 66.7 74.1 84.8 95.6 6

 7 Taxes on production and imports less subsidies 57.5 62.9 72.9 82.2 80.6 85.7 91.1 105.5 111.4 125.4 7

 8 Operating surplus, net 633.4 693.3 737.9 799.9 854.5 926.0 1019.8 1049.4 1084.6 1158.3 8

 9 Net national income/Balance of primary incomes, net 6.1 9.0 10.4 8.9 11.1 11.2 14.0 15.2 19.8 20.1 9

10 Operating surplus, net 633.4 693.3 737.9 799.9 854.5 926.0 1019.8 1049.4 1084.6 1158.3 10

11 Property income (interest received) 10.4 11.2 12.0 12.9 13.4 14.6 15.0 15.5 16.7 17.3 11

12 Less: Uses of property income (paid) 637.7 695.5 739.5 803.9 856.9 929.4 1020.8 1049.7 1081.5 1155.5 12

13 Interest 124.3 124.7 130.1 140.6 149.3 169.8 173.9 166.5 163.5 170.3 13

14 Withdrawals from income of quasi-corporations (1) 513.4 570.8 609.3 663.3 707.6 759.7 846.9 883.2 917.9 985.1 14

15 Reinvested earnings on foreign direct investment 0.1 0.0 0.1 0.0 0.0 0.0 -0.1 0.0 0.0 0.1 15

16 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Net national income/Balance of primary incomes, net 6.1 9.0 10.4 8.9 11.1 11.2 14.0 15.2 19.8 20.1 17

18 Less: Other current transfers (paid) 6.1 9.0 10.4 8.9 11.1 11.2 14.0 15.2 19.8 20.1 18

19 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Capital account

21 Net saving less capital transfers 0.4 0.0 0.0 0.0 0.4 0.0 1.3 0.0 0.0 5.0 21

22 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Less: Capital transfers paid (net) -0.4 0.0 0.0 0.0 -0.4 0.0 -1.3 0.0 0.0 -5.0 23

24 Capital formation, net 20.0 39.3 46.7 51.1 61.8 69.5 49.9 54.9 56.9 77.4 24

25 Gross fixed capital formation 147.9 154.9 167.9 181.3 203.6 221.6 220.5 229.3 238.3 260.3 25

26 Nonresidential 93.6 99.2 108.8 121.6 134.8 149.9 149.0 151.8 150.1 162.2 26

27 Residential 54.3 55.7 59.0 59.7 68.7 71.7 71.6 77.6 88.1 98.1 27

28 Less: Consumption of fixed capital 120.6 124.9 130.0 136.7 145.4 156.3 166.6 174.6 183.6 196.4 28

29 Change in private inventories -7.3 9.3 8.8 6.6 3.6 4.2 -4.0 0.2 2.2 13.5 29

30 Net lending (+) or borrowing (-), capital account (lines 21-24) -19.6 -39.3 -46.7 -51.1 -61.4 -69.5 -48.6 -54.9 -56.9 -72.4 30

 Financial account

31 Net lending (+) or borrowing (-) (line 30) -19.6 -39.3 -46.7 -51.1 -61.4 -69.5 -48.6 -54.9 -56.9 -72.4 31

32 Net acquisition of financial assets 76.2 94.7 131.0 222.6 185.0 246.8 156.9 78.6 80.5 370.8 32

33 Currency and deposits 17.8 22.7 33.1 46.9 58.2 76.5 7.9 17.2 50.8 93.7 33

34 Currency and transferable deposits 13.5 19.2 22.4 6.1 5.1 8.4 0.8 2.7 6.1 106.9 34

35 Time and savings deposits 4.3 3.5 10.7 40.7 53.1 68.1 7.1 14.5 44.7 -13.2 35

36 Debt securities 5.9 5.3 4.2 5.4 -0.9 2.7 3.7 -0.1 1.4 7.0 36

37 Treasury securities 5.3 4.9 3.7 5.7 -0.8 3.0 2.7 0.0 2.1 5.3 37

38 Municipal securities 0.6 0.4 0.5 -0.4 -0.1 -0.3 1.1 -0.1 -0.7 1.7 38

39 Loans -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 39

40 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Long term (mortgages) -2.1 -1.4 -1.6 7.6 -2.2 -0.7 3.4 -0.6 0.1 4.6 41

42 Equity and investment fund shares 1.9 2.3 3.7 9.7 8.1 8.7 10.0 2.4 2.9 3.0 42

43 Money market mutual fund shares 1.9 2.2 3.7 9.7 8.1 8.7 9.6 2.3 2.3 2.9 43

44 Equity in government-sponsored enterprises (2) -0.1 0.1 -0.0 0.0 -0.0 0.0 0.5 0.1 0.6 0.0 44

45 Insurance, pension and standardized guarantee schemes (3) 2.8 1.0 0.7 3.0 1.1 -0.1 2.8 4.5 4.7 4.6 45

46 Other accounts receivable 50.0 64.8 91.0 150.1 120.8 159.6 129.0 55.4 20.6 258.1 46

47 Trade receivables 15.3 29.5 35.1 28.2 39.4 69.6 1.8 18.9 -25.1 26.6 47

48 Other (miscellaneous assets) 34.7 35.2 55.9 121.9 81.4 90.0 127.3 36.5 45.8 231.4 48

49 Net incurrence of liabilities 92.6 131.0 174.4 270.1 242.3 312.2 201.2 125.8 127.9 430.0 49

50 Loans 45.3 70.4 101.9 179.0 193.8 192.4 163.5 151.9 73.9 254.7 50

51 Short term 16.4 30.3 51.0 31.3 55.7 57.9 39.9 26.3 9.8 34.1 51

52 Depository institution loans n.e.c. 11.5 29.2 46.7 25.5 49.6 50.4 43.5 23.7 10.4 33.0 52

53 Other loans and advances 4.9 1.1 4.2 5.8 6.1 7.4 -3.6 2.6 -0.6 1.2 53

54 Long term (mortgages) 29.0 40.2 50.9 147.7 138.1 134.6 123.6 125.6 64.1 220.6 54
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1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

55 Equity and investment fund shares 19.3 -3.0 -19.7 -35.5 -68.6 -19.3 -16.7 -71.6 57.3 74.4 55

56 Equity in noncorporate business 19.4 -3.3 -20.2 -35.7 -69.2 -19.3 -16.7 -72.0 57.4 74.6 56

57 Foreign direct investment in the United States -0.1 0.3 0.5 0.2 0.6 -0.0 -0.0 0.4 -0.1 -0.2 57

58 Other accounts payable 27.9 63.5 92.2 126.6 117.1 139.1 54.5 45.6 -3.3 100.8 58

59 Trade payables 13.8 31.8 31.9 30.3 34.5 41.5 -4.8 25.4 -26.2 23.7 59

60 Taxes payable 0.6 2.3 4.3 4.1 8.9 11.7 4.0 1.5 -0.5 8.4 60

61 Other (miscellaneous liabilities) 13.6 29.4 56.0 92.1 73.7 85.9 55.2 18.7 23.4 68.8 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 32-49) -16.3 -36.2 -43.4 -47.4 -57.3 -65.4 -44.4 -47.2 -47.4 -59.1 62

 Other changes in volume account

63 Total other volume changes 18.9 -3.3 -20.2 -35.7 -70.0 -19.3 -17.3 -72.0 57.4 68.0 63

64 Disaster losses -0.5 0.0 0.0 0.0 -0.8 0.0 -0.7 0.0 0.0 -6.6 64

65 Other volume changes 19.4 -3.3 -20.2 -35.7 -69.2 -19.3 -16.7 -72.0 57.4 74.6 65

 Revaluation account

66 Nonfinancial assets 153.5 122.1 398.8 274.6 301.2 501.0 219.3 403.1 518.7 1147.1 66

67 Real estate 134.1 84.0 400.6 288.7 292.4 487.2 218.1 387.4 492.7 1121.5 67

68 Residential 86.4 68.3 166.3 141.9 227.6 295.4 243.9 328.0 376.2 662.8 68

69 Nonresidential 47.6 15.7 234.3 146.8 64.8 191.9 -25.9 59.4 116.5 458.7 69

70 Equipment 13.4 9.3 3.5 4.9 2.0 4.6 6.5 5.0 10.5 23.9 70

71 Residential 0.0 0.4 -0.5 -0.3 -0.4 -0.0 -0.1 -0.6 -1.4 -0.5 71

72 Nonresidential 13.4 9.0 3.9 5.1 2.4 4.6 6.6 5.6 11.9 24.3 72

73 Intellectual property products 2.0 1.3 1.7 1.6 3.5 3.5 0.8 2.5 4.6 5.1 73

74 Inventories 4.0 27.4 -6.9 -20.6 3.3 5.7 -6.1 8.2 11.0 -3.4 74

75 Liabilities (direct investment in the U.S.) -2.0 0.9 -0.7 -0.6 -0.5 -0.3 0.1 0.3 -0.6 -0.0 75

76 Changes in net worth due to nominal holding gains/losses 155.5 121.2 399.5 275.2 301.6 501.3 219.2 402.8 519.3 1147.1 76

 Changes in balance sheet account

77 Change in net worth (lines 24+30+63+76) 174.8 117.9 379.2 239.5 232.0 482.0 203.2 330.8 576.7 1220.2 77

 Balance sheet account (end of period)

78 Total assets 5031.3 5284.4 5857.6 6402.2 6945.3 7758.4 8179.7 8708.6 9355.2 10930.7 78

79 Nonfinancial assets 4438.9 4597.2 5039.3 5361.4 5719.4 6285.8 6550.2 7000.4 7566.6 8771.2 79

80 Real estate 3861.5 3963.8 4386.9 4701.3 5027.0 5551.3 5800.0 6216.4 6742.6 7893.6 80

81 Residential (4) 2299.8 2383.6 2567.3 2724.7 2973.7 3290.4 3552.1 3901.8 4306.5 4996.8 81

82 Nonresidential 1561.7 1580.1 1819.7 1976.6 2053.3 2260.9 2247.9 2314.6 2436.2 2896.7 82

83 Equipment 377.3 393.4 405.8 420.1 433.9 453.2 470.2 485.5 501.8 536.0 83

84 Residential 31.8 32.6 32.5 33.0 33.7 35.0 36.2 36.9 37.0 38.5 84

85 Nonresidential 345.5 360.8 373.3 387.2 400.2 418.2 433.9 448.6 464.9 497.5 85

86 Intellectual property products 56.6 59.9 64.6 72.0 83.5 96.4 105.3 115.5 125.9 135.3 86

87 Inventories 143.4 180.1 182.0 168.0 174.9 184.8 174.7 183.0 196.2 206.3 87

88 Financial assets 592.5 687.2 818.2 1040.9 1225.9 1472.7 1629.5 1708.2 1788.7 2159.5 88

89 Currency and deposits 191.3 214.0 247.1 293.9 352.1 428.6 436.5 453.7 504.4 598.1 89

90 Currency and transferable deposits 119.8 139.0 161.3 167.4 172.6 181.0 181.8 184.5 190.6 297.5 90

91 Time and savings deposits 71.5 75.0 85.7 126.5 179.5 247.6 254.7 269.2 313.8 300.6 91

92 Debt securities 25.8 31.2 35.4 40.8 39.9 42.6 46.3 46.2 47.6 54.5 92

93 Treasury securities 23.6 28.6 32.2 38.0 37.2 40.2 42.8 42.8 44.9 50.2 93

94 Municipal securities 2.2 2.6 3.2 2.8 2.7 2.4 3.5 3.4 2.7 4.3 94

95 Loans 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 95

96 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 96

97 Long term (mortgages) 21.7 20.4 18.7 26.3 24.1 23.4 26.8 26.2 26.3 30.8 97

98 Equity and investment fund shares 20.0 22.3 25.9 35.6 43.7 52.5 62.5 64.9 67.8 70.8 98

99 Money market mutual fund shares 17.0 19.2 22.9 32.6 40.7 49.4 59.0 61.3 63.6 66.5 99

100 Equity in government-sponsored enterprises (2) 2.9 3.0 3.0 3.0 3.0 3.1 3.5 3.6 4.2 4.2 100

101 Insurance, pension and standardized guarantee schemes (3) 71.5 72.5 73.2 76.2 77.3 77.2 80.0 84.5 89.2 93.8 101

102 Other accounts receivable 262.2 326.9 417.9 568.0 688.8 848.4 977.4 1032.8 1053.4 1311.5 102

103 Trade receivables 140.3 169.8 204.9 233.1 272.6 342.1 343.9 362.8 337.7 364.3 103

104 Other (miscellaneous assets) 121.9 157.1 213.0 334.9 416.3 506.2 633.5 670.0 715.7 947.1 104
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144 Historical Annuals, 1995-2004, March 10, 2016

S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

105 Total liabilities and net worth 5031.3 5284.4 5857.6 6402.2 6945.3 7758.4 8179.7 8708.6 9355.2 10930.7 105

106 Liabilities 1519.6 1654.8 1848.7 2153.8 2464.9 2796.1 3014.1 3212.2 3282.1 3637.4 106

107 Loans 1174.6 1245.1 1347.0 1526.0 1719.8 1912.3 2075.7 2227.6 2301.5 2556.2 107

108 Short term 304.7 335.0 386.0 417.2 472.9 530.8 570.7 597.0 606.8 640.9 108

109 Depository institution loans n.e.c. 200.6 229.8 276.6 302.1 351.7 402.1 445.6 469.3 479.7 512.6 109

110 Other loans and advances 104.1 105.1 109.4 115.1 121.2 128.7 125.1 127.7 127.1 128.3 110

111 Long term (mortgages) 869.9 910.1 961.1 1108.8 1246.9 1381.5 1505.0 1630.6 1694.7 1915.3 111

112 Equity and investment fund shares (direct investment in the U.S.) 2.8 4.0 3.9 3.4 3.6 3.3 3.3 4.0 3.3 3.0 112

113 Other accounts payable 342.1 405.7 497.8 624.4 741.5 880.6 935.0 980.6 977.3 1078.1 113

114 Trade payables 96.7 128.5 160.4 190.8 225.2 266.7 262.0 287.4 261.2 284.9 114

115 Taxes payable 33.4 35.7 39.9 44.1 53.0 64.6 68.7 70.2 69.7 78.0 115

116 Other (miscellaneous liabilities) 212.0 241.5 297.5 389.6 463.2 549.2 604.3 623.1 646.5 715.2 116

117 Net worth 3511.8 3629.6 4008.9 4248.4 4480.4 4962.4 5165.6 5496.4 6073.2 7293.3 117

Notes. Nonfinancial noncorporate business includes noncorporate farms that are excluded from the nonfinancial noncorporate business sector in the Financial Accounts of the United States.

 Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Net equity in reserves of property-casualty insurance companies.

(4) Farm houses are included in the household sector.

n.e.c. Not elsewhere classified
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Historical Annuals, 1995-2004, March 10, 2016 145

S.5.a Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 4041.4 4296.1 4608.4 4873.7 5169.9 5513.0 5471.2 5538.9 5724.5 6107.9 1

 2 Less: Consumption of fixed capital 523.7 557.4 598.4 638.2 683.4 741.9 785.3 804.7 818.0 850.2 2

 3 Equals: Net value added 3517.7 3738.8 4010.0 4235.5 4486.5 4771.1 4685.9 4734.2 4906.5 5257.7 3

 4 Compensation of employees (paid) 2524.6 2667.7 2862.6 3093.8 3310.0 3597.3 3584.6 3542.0 3595.7 3762.8 4

 5 Wages and salaries 2076.9 2206.9 2384.2 2582.6 2771.1 3008.4 2993.8 2939.0 2962.2 3099.9 5

 6 Employers’ social contributions 447.7 460.8 478.3 511.2 538.9 588.9 590.8 603.0 633.4 662.9 6

 7 Taxes on production and imports less subsidies 358.7 371.7 388.9 402.9 424.6 449.9 445.0 472.9 495.8 530.9 7

 8 Operating surplus, net 634.4 699.4 758.6 738.7 751.9 723.9 656.3 719.3 815.1 964.1 8

 9 Net national income/Balance of primary incomes, net 381.9 435.5 467.4 403.8 438.3 377.4 304.7 362.8 467.9 561.7 9

10 Operating surplus, net 634.4 699.4 758.6 738.7 751.9 723.9 656.3 719.3 815.1 964.1 10

11 Property income (received) 300.1 331.8 366.1 342.4 376.3 451.6 409.1 394.8 420.2 480.6 11

12 Interest 194.5 217.3 237.8 228.4 242.4 286.5 270.4 246.1 236.4 251.9 12

13 Distributed income of corporations (dividends) 45.4 52.7 62.3 58.2 59.7 62.0 53.9 50.3 55.8 66.3 13

14 Reinvested earnings on U.S. direct investment abroad 60.2 61.8 66.0 55.7 74.2 103.1 84.8 98.4 128.0 162.4 14

15 Less: Uses of property income (paid) 552.7 595.6 657.3 677.3 690.0 798.1 760.8 751.3 767.4 883.0 15

16 Interest 313.3 328.3 355.5 366.4 393.1 472.3 474.6 431.6 391.6 394.6 16

17 Distributed income of corporations (dividends) 223.4 250.2 278.3 299.3 284.4 313.4 299.3 305.1 349.2 430.8 17

18 Reinvested earnings on foreign direct investment 8.4 8.3 14.2 2.8 3.3 -0.1 -28.0 1.5 12.0 40.5 18

19 Rent 7.5 8.7 9.3 8.9 9.2 12.5 14.9 13.1 14.7 17.1 19

20 Net national income/Balance of primary incomes, net 381.9 435.5 467.4 403.8 438.3 377.4 304.7 362.8 467.9 561.7 20

21 Less: Current taxes on income, wealth, etc. (paid) 140.3 152.9 161.4 158.7 171.4 170.2 111.2 97.1 132.9 187.0 21

22 Less: Other current transfers (paid) 30.2 37.3 38.5 34.1 45.6 45.5 55.3 52.3 61.8 62.0 22

23 Equals: Disposable income, net 211.4 245.3 267.5 211.0 221.3 161.7 138.1 213.4 273.2 312.7 23

24 Equals: Net saving 211.4 245.3 267.5 211.0 221.3 161.7 138.1 213.4 273.2 312.7 24

 Capital account

25 Net saving less capital transfers 211.8 245.3 267.5 211.0 222.2 161.7 150.6 213.4 273.3 319.3 25

26 Net saving 211.4 245.3 267.5 211.0 221.3 161.7 138.1 213.4 273.2 312.7 26

27 Less: Capital transfers paid (net) -0.4 0.0 0.0 0.0 -0.9 0.0 -12.5 -0.0 -0.1 -6.7 27

28 Capital formation, net 242.2 250.0 332.2 338.4 364.2 403.0 236.9 152.2 157.0 208.4 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 721.5 782.5 860.6 915.2 991.2 1095.7 1057.4 941.2 960.0 1010.1 29

30 Less: Consumption of fixed capital 523.7 557.4 598.4 638.2 683.4 741.9 785.3 804.7 818.0 850.2 30

31 Acquisition of nonproduced nonfinancial assets 5.9 3.4 7.9 4.3 -0.8 -1.2 -0.9 -2.7 -2.1 -1.8 31

32 Change in private inventories 38.5 21.5 62.2 57.2 57.2 50.3 -34.3 18.3 17.1 50.3 32

33 Net lending (+) or borrowing (-), capital account (lines 25-28) -30.4 -4.8 -64.7 -127.4 -142.0 -241.2 -86.3 61.2 116.3 111.0 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -30.4 -4.8 -64.7 -127.4 -142.0 -241.2 -86.3 61.2 116.3 111.0 34

35 Net acquisition of financial assets 424.7 449.5 265.0 568.4 965.5 1203.9 175.7 138.6 86.1 779.1 35

36 Currency and deposits 9.7 23.2 18.3 19.7 74.8 63.1 -53.6 2.9 133.0 56.2 36

37 Currency and transferable deposits 4.6 -17.6 -11.3 -15.9 29.6 35.0 -53.8 -12.3 44.0 3.0 37

38 Time and savings deposits 3.3 30.0 34.7 28.2 44.3 35.5 8.8 10.2 71.5 37.7 38

39 Foreign deposits 1.7 10.8 -5.1 7.4 0.9 -7.4 -8.5 5.1 17.6 15.6 39

40 Debt securities -8.8 0.7 -39.8 1.1 5.0 18.8 0.7 21.3 10.8 16.2 40

41 Open market paper 1.3 11.4 4.6 3.3 8.2 10.2 2.4 4.6 10.9 19.3 41

42 Treasury securities 6.3 -10.0 -20.2 -3.2 -4.2 -1.3 -1.3 14.5 2.3 0.3 42

43 Agency- and GSE-backed securities (1) 3.5 5.1 -20.5 2.6 1.8 3.0 2.1 -0.7 -5.7 0.1 43

44 Municipal securities -19.9 -5.8 -3.6 -1.6 -0.7 6.9 -2.6 2.8 3.3 -3.6 44

45 Loans 0.3 -9.4 33.2 -18.4 -27.7 6.1 -5.6 6.9 -13.7 15.4 45

46 Short term (security repos and consumer credit) -1.3 -5.9 7.3 -5.4 -1.6 3.8 -8.7 3.9 -15.9 0.6 46

47 Long term (mortgages) 1.6 -3.6 25.9 -13.0 -26.0 2.3 3.1 2.9 2.2 14.8 47

48 Equity and investment fund shares 123.7 121.0 115.2 176.7 256.2 220.7 210.5 143.5 103.3 284.1 48

49 Money market fund shares 22.9 34.7 24.2 42.9 35.1 17.1 100.2 5.7 -30.4 10.3 49

50 Mutual fund shares 4.6 9.1 1.7 14.6 9.8 0.3 4.3 -0.2 5.8 -1.3 50

51 U.S. direct investment abroad 90.3 76.8 84.3 129.2 200.7 138.0 123.8 131.1 125.3 272.4 51

52 Equity in government-sponsored enterprises (1) 0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 52

53 Investment in finance company subsidiaries 5.9 0.6 4.9 -10.0 10.6 65.2 -17.8 6.9 2.6 2.6 53

54 Insurance, pension and standardized guarantee schemes (2) 8.5 2.8 2.1 2.3 1.4 0.0 10.8 18.1 19.0 19.7 54
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146 Historical Annuals, 1995-2004, March 10, 2016

S.5.a Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

55 Other accounts receivable 291.4 311.2 136.0 387.2 655.8 895.2 12.8 -54.0 -166.4 387.5 55

56 Trade receivables 78.0 88.1 88.0 87.3 209.2 281.6 -121.3 -98.4 -17.7 128.9 56

57 Other (miscellaneous assets) 213.4 223.1 47.9 299.8 446.6 613.6 134.1 44.4 -148.7 258.6 57

58 Net incurrence of liabilities 392.1 399.9 285.1 617.9 989.1 1238.3 97.9 88.3 13.4 614.1 58

59 Debt securities 86.9 89.9 145.4 237.7 249.3 200.6 213.8 27.3 39.5 13.5 59

60 Open market paper 18.1 -0.9 13.7 24.4 37.4 48.1 -83.1 -57.9 -37.3 15.3 60

61 Municipal securities 3.1 3.1 4.2 5.8 5.1 1.4 3.5 2.9 3.3 10.6 61

62 Corporate bonds 65.7 87.7 127.5 207.5 206.9 151.2 293.4 82.3 73.5 -12.3 62

63 Loans 105.3 72.0 133.9 141.5 124.2 157.9 -62.5 -17.2 -42.7 147.5 63

64 Short term 106.3 61.4 105.2 140.8 76.7 133.0 -102.9 -71.5 -84.1 55.0 64

65 Depository institution loans n.e.c. 77.3 43.8 55.1 80.7 48.6 55.2 -105.1 -103.4 -91.4 4.0 65

66 Other loans and advances 28.9 17.6 50.1 60.1 28.1 77.8 2.1 31.9 7.3 51.1 66

67 Long term (mortgages) -1.0 10.6 28.7 0.8 47.5 24.9 40.5 54.3 41.4 92.5 67

68 Equity and investment fund shares -3.5 24.2 21.6 -70.6 72.7 131.3 93.2 50.3 14.4 2.5 68

69 Corporate equities -58.3 -47.3 -77.4 -215.5 -110.4 -118.2 -48.1 -24.1 -25.5 -93.4 69

70 Foreign direct investment in the United States 54.9 71.5 99.0 144.9 183.1 249.5 141.4 74.4 40.0 96.0 70

71 Insurance, pension and standardized guarantee schemes 85.2 88.4 104.2 109.4 96.9 98.8 102.3 82.4 56.4 81.2 71

72 Pension fund contributions payable 5.4 5.4 8.4 12.9 -18.4 -19.1 -24.6 1.5 -0.2 -3.1 72

73 Claim of pension fund on sponsor 79.7 83.0 95.8 96.5 115.3 117.9 126.9 80.8 56.6 84.3 73

74 Other accounts payable 118.2 125.4 -120.0 200.0 445.9 649.7 -249.0 -54.4 -54.2 369.3 74

75 Trade payables 81.2 49.7 65.3 57.7 178.5 312.6 -103.6 19.8 -54.7 97.7 75

76 Taxes payable -0.0 9.6 9.3 4.8 7.0 7.0 3.1 11.9 -11.7 6.8 76

77 Miscellaneous liabilities 37.1 66.1 -194.6 137.5 260.4 330.1 -148.4 -86.0 12.3 264.8 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-58) 32.7 49.6 -20.1 -49.5 -23.5 -34.5 77.7 50.3 72.7 165.0 78

 Other changes in volume account

79 Total other volume changes 177.6 129.1 178.9 417.0 447.3 897.6 -14.7 -174.7 118.9 267.2 79

80 Disaster losses -0.7 0.0 0.0 0.0 -1.4 0.0 -11.0 0.0 0.0 -9.2 80

81 Other volume changes 97.0 77.8 148.4 354.9 326.3 674.0 -159.6 -157.7 153.0 182.9 81

82 Less: Statistical discrepancy (lines 33-78) (3) -63.1 -54.4 -44.6 -77.9 -118.5 -206.8 -164.0 10.9 43.6 -54.0 82

83 Less: Inventory valuation adjustment -18.3 3.1 14.1 15.7 -4.0 -16.8 8.0 6.1 -9.6 -39.5 83

 Revaluation account

84 Nonfinancial assets 124.1 -1.4 689.1 399.7 143.6 578.0 -258.9 270.2 183.2 1315.9 84

85 Real estate 67.4 -16.9 707.1 438.3 112.1 545.4 -187.8 278.5 164.6 1198.6 85

86 Equipment 33.6 0.3 -26.3 -35.3 -21.1 -7.0 -35.0 -34.0 -24.5 64.9 86

87 Intellectual property products 17.1 8.0 13.1 11.5 29.6 25.3 -11.4 -1.3 21.5 10.9 87

88 Inventories 6.0 7.1 -4.8 -14.9 23.0 14.3 -24.7 27.0 21.6 41.4 88

89 Financial assets 12.7 18.8 -7.4 -12.7 28.8 -46.7 1.0 -26.8 26.1 89.2 89

90 Mutual fund shares 10.0 7.8 10.2 8.6 19.8 -9.6 -13.4 -17.9 18.2 11.9 90

91 Direct investment abroad 2.8 11.0 -17.6 -21.3 9.0 -37.1 14.4 -9.0 7.9 77.2 91

92 Liabilities 1664.7 380.6 1901.3 2409.6 3359.3 -1914.6 -1398.3 -2687.2 2671.7 1343.0 92

93 Corporate equity 1668.3 398.7 1929.0 2493.2 3447.7 -1932.6 -1343.1 -2599.2 2662.2 1331.3 93

94 Foreign direct investment in the United States -3.6 -18.0 -27.7 -83.6 -88.4 18.0 -55.1 -88.1 9.5 11.8 94

95 Changes in net worth due to nominal holding gains/losses -1527.8 -363.2 -1219.7 -2022.6 -3186.8 2445.9 1140.3 2930.6 -2462.5 62.0 95

 Changes in balance sheet account

96 Change in net worth (lines 28+33+79+95) (4) -1138.4 11.1 -773.2 -1394.6 -2517.3 3505.3 1276.3 2969.3 -2070.3 648.6 96

 Balance sheet account (end of period)

97 Total assets 12226.5 12959.5 14289.7 16003.6 17774.6 20434.1 20520.0 20982.8 21493.8 23867.2 97

98 Nonfinancial assets (5) 7251.2 7487.0 8471.3 9178.8 9681.1 10673.3 10633.1 11041.2 11377.1 12929.9 98

99 Real estate 3223.0 3260.0 4021.9 4529.7 4715.6 5363.4 5279.3 5608.8 5814.7 7050.7 99

100 Equipment 2249.1 2368.6 2477.4 2582.5 2720.5 2888.8 2961.3 2975.8 3006.1 3145.4 100

101 Intellectual property products 700.1 753.8 824.2 892.2 986.6 1081.1 1119.5 1144.4 1195.9 1242.2 101

102 Inventories 1079.0 1104.5 1147.8 1174.3 1258.5 1340.0 1273.0 1312.2 1360.4 1491.6 102

103 Financial assets 4975.4 5472.5 5818.4 6824.8 8093.5 9760.8 9887.0 9941.6 10116.7 10937.3 103

104 Currency and deposits 323.8 346.9 365.2 384.9 459.7 522.7 469.2 472.1 605.1 661.3 104

105 Currency and transferable deposits 206.7 189.0 177.7 161.8 191.3 226.4 172.5 160.2 204.2 207.2 105

106 Time and savings deposits 99.7 129.7 164.4 192.6 236.9 272.3 281.1 291.3 362.8 400.5 106

107 Foreign deposits 17.4 28.2 23.1 30.5 31.5 24.0 15.5 20.6 38.1 53.7 107
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S.5.a Nonfinancial Corporate Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

108 Debt securities 137.4 138.1 98.3 99.4 104.4 123.2 123.9 145.2 156.0 172.2 108

109 Open market paper 20.1 31.5 36.1 39.4 47.6 57.8 60.2 64.8 75.7 95.0 109

110 Treasury securities 57.1 47.1 26.8 23.6 19.4 18.1 16.9 31.4 33.7 34.0 110

111 Agency- and GSE-backed securities (1) 23.4 28.5 8.0 10.6 12.4 15.4 17.5 16.9 11.2 11.3 111

112 Municipal securities 36.8 31.0 27.4 25.7 25.0 31.9 29.3 32.1 35.4 31.8 112

113 Loans 145.4 136.0 169.2 150.8 123.1 129.2 123.7 130.5 116.8 132.2 113

114 Short term 87.5 81.6 89.0 83.6 81.9 85.7 77.0 81.0 65.1 65.6 114

115 Security repurchases 2.4 3.9 4.6 4.2 5.8 4.2 4.0 6.2 6.0 6.4 115

116 Consumer credit 85.1 77.7 84.4 79.3 76.1 81.5 73.1 74.8 59.1 59.2 116

117 Long term (mortgages) 57.9 54.4 80.2 67.3 41.2 43.5 46.6 49.6 51.8 66.6 117

118 Equity and investment fund shares 907.0 1046.8 1154.6 1318.6 1603.6 1713.2 1924.7 2041.4 2170.6 2543.9 118

119 Money market fund shares 60.0 94.6 118.8 161.7 196.8 213.9 314.1 319.7 289.3 299.6 119

120 Mutual fund shares 45.7 62.6 74.5 97.6 127.3 118.0 109.0 90.9 114.9 125.6 120

121 U.S. direct investment abroad 778.7 866.5 933.1 1041.0 1250.7 1351.6 1489.8 1611.9 1745.1 2094.7 121

122 Equity in government-sponsored enterprises (1) 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.5 122

123 Investment in finance company subsidiaries 22.5 23.0 28.0 18.0 28.6 29.4 11.6 18.5 21.0 23.6 123

124 Insurance, pension and standardized guarantee schemes (2) 186.5 189.3 191.4 193.7 195.0 195.1 205.9 224.0 243.0 262.7 124

125 Other accounts receivable 3275.3 3615.3 3839.7 4677.4 5607.6 7077.3 7039.7 6928.5 6825.1 7165.0 125

126 Trade receivables 1184.9 1273.1 1361.1 1448.4 1657.6 1939.2 1817.9 1719.5 1701.8 1830.6 126

127 Other (miscellaneous assets) 2090.4 2342.2 2478.6 3229.0 3950.0 5138.1 5221.7 5208.9 5123.3 5334.3 127

128 Total liabilities and net worth 12226.5 12959.5 14289.7 16003.6 17774.6 20434.1 20520.0 20982.8 21493.8 23867.2 128

129 Liabilities 12429.9 13151.7 15255.2 18363.6 22652.0 21806.2 20615.8 18109.3 20690.6 22415.4 129

130 Debt securities 1786.2 1876.1 2020.0 2257.7 2507.0 2707.6 2903.8 2931.1 2970.6 2995.1 130

131 Open market paper 157.4 156.4 168.6 193.0 230.3 278.4 177.7 119.8 82.5 97.8 131

132 Municipal securities 134.8 137.9 142.0 147.8 152.8 154.2 157.7 160.6 163.9 185.4 132

133 Corporate bonds 1494.1 1581.9 1709.4 1916.9 2123.8 2275.0 2568.4 2650.7 2724.2 2711.9 133

134 Loans 1309.0 1367.9 1501.3 1642.8 1801.4 1959.3 1897.4 1880.2 1851.6 1999.1 134

135 Short term 1098.7 1147.1 1251.7 1392.5 1469.2 1602.2 1499.9 1428.3 1356.3 1411.3 135

136 Depository institution loans n.e.c. 631.5 662.3 716.9 797.5 846.1 901.3 796.8 693.4 614.1 618.0 136

137 Other loans and advances 467.2 484.8 534.9 595.0 623.1 700.9 703.0 734.9 742.2 793.3 137

138 Long term (mortgages) 210.2 220.8 249.5 250.3 332.2 357.1 397.6 451.9 495.3 587.8 138

139 Equity and investment fund shares 7058.0 7462.9 9366.2 11705.1 15137.2 13353.8 12048.8 9411.8 12098.0 13443.5 139

140 Corporate equity 6406.8 6758.1 8609.7 10887.4 14224.7 12173.8 10782.6 8159.3 10796.0 12033.8 140

141 Foreign direct investment in the United States 651.3 704.8 756.4 817.8 912.5 1180.0 1266.2 1252.5 1302.0 1409.8 141

142 Insurance, pension and standardized guarantee schemes -10.4 -70.8 -176.9 -187.3 -284.6 -120.5 160.2 389.7 78.0 80.9 142

143 Pension fund contributions payable 83.8 89.2 97.6 110.5 92.1 73.0 48.4 49.9 49.8 46.6 143

144 Claim of pension fund on sponsor -94.2 -160.0 -274.5 -297.7 -376.6 -193.5 111.7 339.8 28.2 34.3 144

145 Other accounts payable 2287.1 2515.6 2544.7 2945.3 3491.1 3906.0 3605.6 3496.5 3692.4 3896.7 145

146 Trade payables 878.6 928.3 993.6 1051.2 1229.8 1542.4 1438.8 1458.6 1403.9 1501.5 146

147 Taxes payable 40.3 49.9 59.2 64.1 71.0 78.0 81.0 93.0 81.2 88.0 147

148 Miscellaneous liabilities 1368.2 1537.4 1491.9 1830.0 2190.2 2285.6 2085.8 1945.0 2207.3 2307.2 148

149 Net worth -203.3 -192.2 -965.4 -2360.0 -4877.4 -1372.1 -95.8 2873.5 803.2 1451.8 149

Notes. Nonfinancial corporate business includes corporate farms that are excluded from the nonfinancial corporate business sector in the Financial Accounts of the United States.

 Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) Net equity in reserves of property-casualty insurance companies.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Financial Accounts of the United States.

(5) Excludes nonproduced nonfinancial assets.

n.e.c. Not elsewhere classified
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S.6.a Financial Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 501.0 558.2 630.8 707.5 743.8 821.9 847.2 849.0 885.6 922.1 1

 2 Less: Consumption of fixed capital 73.5 76.1 79.6 85.5 96.2 108.3 115.6 122.1 130.0 139.3 2

 3 Equals: Net value added 427.5 482.1 551.2 622.0 647.6 713.5 731.6 726.9 755.6 782.8 3

 4 Compensation of employees (paid) 279.9 304.1 333.7 375.3 399.2 440.6 445.6 444.0 460.5 498.5 4

 5 Wages and salaries 233.6 257.2 284.0 319.7 341.7 378.8 375.1 371.1 390.6 423.0 5

 6 Employers’ social contributions 46.3 46.9 49.7 55.6 57.5 61.9 70.5 72.9 69.9 75.5 6

 7 Taxes on production and imports less subsidies 29.3 30.9 33.1 33.5 35.9 36.8 37.6 39.9 42.9 46.6 7

 8 Operating surplus, net 118.2 147.1 184.4 213.2 212.5 236.0 248.4 243.0 252.2 237.7 8

 9 Net national income/Balance of primary incomes, net 99.4 91.4 94.0 96.7 98.8 92.4 164.9 207.0 206.6 213.1 9

10 Operating surplus, net 118.2 147.1 184.4 213.2 212.5 236.0 248.4 243.0 252.2 237.7 10

11 Property income (received) 1266.4 1301.1 1410.5 1511.9 1600.8 1864.2 1807.0 1562.8 1501.3 1742.7 11

12 Interest 1171.3 1190.5 1286.9 1382.0 1461.1 1720.5 1667.8 1418.0 1338.0 1533.2 12

13 Distributed income of corporations (dividends) 86.5 102.1 114.1 122.1 129.1 129.9 128.0 130.6 142.2 179.4 13

14 Reinvested earnings on U.S. direct investment abroad 8.6 8.5 9.5 7.8 10.6 13.8 11.3 14.3 21.1 30.1 14

15 Less: Uses of property income (paid) 1285.2 1356.9 1500.9 1628.4 1714.5 2007.8 1890.5 1598.8 1546.8 1767.3 15

16 Interest 1121.3 1151.0 1267.2 1386.5 1445.7 1712.6 1625.2 1316.2 1243.5 1394.0 16

17 Distributed income of corporations 163.7 205.6 232.7 241.7 267.8 295.2 270.8 282.3 300.9 364.1 17

18 Dividends 134.6 167.7 190.4 195.9 210.8 234.0 212.5 228.1 250.7 316.7 18

19 Withdrawals from income of quasi-corporations (1) 29.1 37.9 42.4 45.8 57.0 61.2 58.3 54.2 50.1 47.4 19

20 Reinvested earnings on foreign direct investment 0.1 0.3 0.9 0.2 1.0 0.0 -5.6 0.3 2.5 9.3 20

21 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net 99.4 91.4 94.0 96.7 98.8 92.4 164.9 207.0 206.6 213.1 22

23 Less: Current taxes on income, wealth, etc. (paid) 77.5 78.5 84.1 89.7 87.4 94.9 92.1 95.2 110.9 119.1 23

24 Less: Other current transfers (paid) 7.1 7.0 -3.4 19.3 9.1 27.8 30.8 10.5 -9.7 -6.5 24

25 Equals: Disposable income, net 14.8 5.8 13.4 -12.4 2.3 -30.3 42.1 101.3 105.5 100.5 25

26 Equals: Net saving 14.8 5.8 13.4 -12.4 2.3 -30.3 42.1 101.3 105.5 100.5 26

 Capital account

27 Net saving less capital transfers 12.9 5.8 13.4 -12.4 0.5 -30.3 34.3 101.3 105.5 84.3 27

28 Net saving 14.8 5.8 13.4 -12.4 2.3 -30.3 42.1 101.3 105.5 100.5 28

29 Less: Capital transfers paid (net) 1.9 0.0 0.0 0.0 1.7 0.0 7.7 0.0 0.0 16.2 29

30 Capital formation, net 25.2 33.8 36.1 54.4 58.5 50.5 38.5 33.8 26.5 37.2 30

31 Gross fixed capital formation (nonresidential) 98.7 109.9 115.7 139.9 154.7 158.8 154.1 155.9 156.5 176.5 31

32 Less: Consumption of fixed capital 73.5 76.1 79.6 85.5 96.2 108.3 115.6 122.1 130.0 139.3 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) -12.3 -28.0 -22.8 -66.8 -57.9 -80.8 -4.2 67.5 78.9 47.1 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -12.3 -28.0 -22.8 -66.8 -57.9 -80.8 -4.2 67.5 78.9 47.1 34

35 Net acquisition of financial assets 1711.4 1806.8 2324.8 2710.9 2822.0 2808.1 3244.9 2646.5 3260.8 3840.4 35

36 Monetary gold -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 0.0 36

37 Currency and deposits 47.5 53.1 59.0 58.4 41.6 4.4 186.1 11.5 -25.9 63.4 37

38 Debt securities 541.7 416.4 710.4 919.2 932.3 489.4 986.6 871.8 1142.5 483.0 38

39 Open market paper 35.3 52.4 144.0 140.4 205.8 164.5 -196.5 -130.2 -89.3 61.0 39

40 Treasury securities 82.2 -9.4 117.1 -5.4 -18.9 4.7 106.0 214.9 112.1 -1.8 40

41 Agency- and GSE-backed securities (2) 192.1 132.3 150.3 352.8 401.0 218.2 639.8 516.3 432.6 -210.1 41

42 Municipal securities 24.8 38.8 38.2 85.2 25.4 10.3 67.6 69.6 110.7 79.5 42

43 Corporate and foreign bonds 207.3 202.2 260.8 346.2 319.0 91.7 369.7 201.4 576.4 554.5 43

44 Loans 704.8 619.6 767.2 898.7 1146.3 1069.7 901.9 1047.9 1145.2 1897.2 44

45 Short term 500.5 336.0 470.0 409.6 555.1 511.8 228.5 144.1 162.2 665.4 45

46 Long term (mortgages) 204.4 283.6 297.2 489.1 591.2 557.9 673.4 903.8 983.0 1231.7 46

47 Equity and investment fund shares 239.9 409.6 355.2 514.5 402.0 804.5 786.0 409.9 338.5 665.9 47

48 Corporate equities 56.4 160.2 103.8 156.5 72.4 440.0 452.6 174.5 254.2 332.6 48

49 Mutual fund shares 84.0 58.7 88.1 92.1 84.6 165.9 86.2 108.5 8.6 102.7 49

50 Money market mutual fund shares 11.5 77.9 53.3 101.0 100.4 37.8 147.7 -1.6 -78.0 -110.5 50

51 Equity in government-sponsored enterprises (2) 2.0 1.4 1.8 4.0 6.1 2.2 2.8 1.9 2.5 2.4 51

52 U.S. direct investment abroad 8.4 15.1 20.5 13.5 24.2 21.2 18.6 23.4 24.3 43.8 52

53 Stock in Federal Reserve Banks 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 53

54 Investment in subsidiaries 77.2 95.7 87.0 146.8 113.9 136.8 77.7 102.2 126.4 291.9 54

55 Insurance, pension and standardized guarantee schemes 168.3 157.4 182.7 214.8 218.5 158.2 152.2 209.4 304.9 269.4 55

56 Other accounts receivable 9.1 150.7 250.2 105.2 81.3 282.0 232.2 96.0 355.6 461.6 56
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1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

57 Net incurrence of liabilities 1604.3 1813.3 2307.4 2715.1 2790.9 2859.7 3251.4 2641.1 3074.0 3855.2 57

58 Currency and deposits 137.8 189.2 251.3 232.1 337.9 226.3 456.2 377.0 471.5 621.4 58

59 Debt securities 428.2 465.5 510.3 880.2 920.7 746.6 812.3 874.5 1024.6 843.4 59

60 Agency- and GSE-backed securities (2) 204.3 231.4 213.7 471.6 593.3 434.9 642.7 546.7 586.2 115.8 60

61 Corporate bonds 181.2 141.9 130.0 247.6 151.1 180.0 296.5 427.7 501.9 705.9 61

62 Commercial paper 42.7 92.2 166.7 161.0 176.2 131.7 -126.9 -99.9 -63.5 21.7 62

63 Loans 229.8 186.1 339.8 209.5 257.4 389.5 268.2 235.8 326.5 610.6 63

64 Short term 224.5 178.3 324.9 184.8 250.2 384.8 266.0 224.6 317.6 585.1 64

65 Long term (mortgages) 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 65

66 Equity and investment fund shares 365.3 470.8 495.6 739.2 677.6 800.9 762.2 351.9 250.5 649.7 66

67 Money market mutual fund shares 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 67

68 Corporate equity issues -7.2 -21.3 -27.9 3.5 1.7 17.1 39.9 71.5 66.0 118.1 68

69 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 69

70 Equity in government-sponsored enterprises (2) 2.0 1.5 1.8 4.1 6.1 2.2 3.3 2.0 3.2 2.5 70

71 Foreign direct investment in the United States 3.0 14.7 6.1 34.0 105.7 71.8 25.7 9.6 23.9 50.2 71

72 Equity in noncorporate business -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 72

73 Investment by parent 79.2 92.1 92.7 137.4 120.3 234.5 63.2 109.7 84.9 320.1 73

74 Stock in Federal Reserve Banks 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 74

75 Insurance, pension and standardized guarantee schemes 402.0 374.6 478.7 543.2 437.8 479.6 560.0 580.5 708.4 725.3 75

76 Other accounts payable 41.1 127.0 231.7 111.0 159.5 216.7 392.5 221.5 292.5 404.8 76

 Addendum:

77 Net lending (+) or borrowing (-), financial account (lines 35-57) 107.1 -6.5 17.4 -4.2 31.1 -51.5 -6.5 5.5 186.8 -14.7 77

 Other changes in volume account

78 Total other volume changes -309.1 -285.5 -387.7 -203.0 -454.5 506.8 322.7 559.6 -702.5 -380.5 78

79 Disaster losses -0.0 0.0 0.0 0.0 -0.0 0.0 -3.8 0.0 0.0 -1.7 79

80 Other volume changes -428.5 -307.0 -427.8 -265.5 -543.4 477.6 328.7 621.6 -810.3 -317.1 80

81 Less: Statistical discrepancy (lines 33-77) (3) -119.4 -21.5 -40.1 -62.5 -89.0 -29.3 2.3 62.0 -107.9 61.8 81

 Revaluation account

82 Nonfinancial assets 7.9 -1.5 7.9 11.2 20.1 21.8 8.3 6.6 6.4 66.5 82

83 Structures (nonresidential) 10.1 11.6 21.4 24.1 22.6 20.7 20.1 17.2 15.5 61.3 83

84 Equipment -2.3 -12.2 -13.0 -13.0 -3.9 -0.7 -10.9 -8.1 -6.2 6.6 84

85 Intellectual property products 0.1 -0.9 -0.5 0.1 1.5 1.8 -0.9 -2.5 -3.0 -1.4 85

86 Financial assets 912.4 786.3 1213.1 1038.7 1649.0 -1022.7 -1291.8 -1631.8 2179.2 1189.1 86

87 Corporate equities 819.9 708.3 1066.5 930.5 1397.5 -957.1 -1042.9 -1479.6 1873.1 1001.0 87

88 Mutual fund shares 95.2 76.7 155.6 101.7 267.0 -60.7 -253.7 -180.6 276.1 137.5 88

89 U.S. direct investment abroad -2.6 1.4 -8.9 6.6 -15.6 -4.8 4.8 28.4 30.0 50.6 89

90 Liabilities 895.0 1131.5 1549.9 799.9 1119.2 -227.8 -1127.2 -1457.4 2075.7 1164.4 90

91 Corporate equity issues 397.3 676.7 822.3 175.2 4.0 337.8 -163.5 -367.0 792.0 456.1 91

92 Mutual fund shares 228.0 252.0 381.9 344.2 734.1 -343.0 -502.6 -678.1 726.8 483.8 92

93 Foreign direct investment in the United States 9.8 -3.8 1.3 1.1 -18.9 -19.7 -14.6 -15.1 8.4 4.0 93

94 Equity in noncorporate business 0.8 0.8 1.9 1.5 0.7 0.3 -2.2 -1.9 11.4 2.4 94

95 Pension fund reserves 259.1 205.8 342.6 277.9 399.2 -203.2 -444.4 -395.3 537.1 218.1 95

96 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 96

97 Changes in net worth due to nominal holding gains/losses 25.4 -346.6 -328.9 250.0 549.9 -773.0 -156.4 -167.8 109.9 91.3 97

 Changes in balance sheet account

98 Change in net worth (lines 30+33+78+97) -270.9 -626.3 -703.2 34.7 96.0 -296.5 200.6 493.1 -487.1 -204.9 98

 Balance sheet account (end of period)

99 Total assets 23819.8 26149.5 29466.7 33017.8 37160.5 39522.4 41953.4 43531.6 48091.4 53121.6 99

100 Nonfinancial assets (4) 753.9 786.4 830.5 896.2 975.0 1048.0 1091.9 1134.5 1170.8 1277.0 100

101 Structures (nonresidential) 434.4 458.0 494.7 532.6 567.9 601.3 633.0 654.5 673.2 743.3 101

102 Equipment 278.3 287.1 293.8 315.3 347.6 375.1 381.0 392.6 402.3 429.2 102

103 Intellectual property products 41.2 41.3 42.0 48.3 59.6 71.5 78.0 87.4 95.4 104.5 103

104 Financial assets 23065.9 25363.2 28636.2 32121.6 36185.5 38474.4 40861.5 42397.1 46920.6 51844.5 104

105 Monetary gold 11.1 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 105

106 Currency and deposits 385.6 440.6 505.5 565.8 605.4 627.2 811.8 825.4 802.2 866.7 106
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S.6.a Financial Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

107 Debt securities 7268.3 7658.3 8353.2 9272.4 10207.1 10728.0 11766.3 12636.2 13613.7 14128.6 107

108 Open market paper 525.7 578.1 714.4 854.8 1060.6 1225.1 1080.3 948.1 856.3 929.1 108

109 Treasury securities 2090.8 2055.1 2131.3 2126.0 2107.8 2094.8 2200.9 2415.8 2451.9 2450.0 109

110 Agency- and GSE-backed securities (2) 1891.7 2024.1 2178.3 2531.2 2932.5 3155.7 3795.4 4311.7 4579.7 4389.6 110

111 Municipal securities 686.7 725.5 780.6 865.8 891.2 903.1 970.7 1040.3 1151.0 1230.5 111

112 Corporate and foreign bonds 2073.4 2275.5 2548.6 2894.8 3215.1 3349.3 3719.1 3920.4 4574.8 5129.3 112

113 Loans 8136.4 8756.0 9522.7 10421.4 11566.8 12651.9 13554.4 14602.8 15797.2 17709.2 113

114 Short term 3975.9 4298.9 4768.3 5177.9 5733.0 6260.2 6489.2 6633.9 6833.5 7498.9 114

115 Long term (mortgages) 4160.5 4457.2 4754.3 5243.5 5833.8 6391.7 7065.2 7969.0 8963.8 10210.3 115

116 Equity and investment fund shares 4914.4 6110.4 7756.6 9309.8 11360.8 11412.6 10898.7 9676.8 12194.5 14049.5 116

117 Corporate equities 3536.2 4404.7 5591.8 6678.8 8148.7 7901.7 7311.4 6006.3 8133.5 9467.1 117

118 Mutual fund shares 459.2 594.6 899.2 1093.0 1444.6 1549.8 1382.3 1310.1 1594.9 1835.1 118

119 Money market fund shares 176.1 254.0 307.3 408.3 508.7 546.5 694.2 692.6 614.7 504.2 119

120 Equity in government-sponsored enterprises (2) 15.1 16.5 18.3 22.3 28.4 30.5 33.3 35.2 37.7 40.1 120

121 U.S. direct investment abroad 106.8 123.3 134.9 155.0 163.6 180.0 203.4 255.1 309.4 403.8 121

122 Stock in Federal Reserve Banks 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 122

123 Investment in subsidiaries 617.0 712.6 799.6 946.5 1060.4 1197.2 1266.8 1369.0 1495.4 1787.3 123

124 Insurance, pension and standardized guarantee schemes 1424.2 1303.3 1152.2 1079.0 886.3 1233.8 1755.6 2445.6 2054.1 2298.0 124

125 Other accounts receivable 926.0 1083.5 1335.0 1462.1 1547.9 1809.8 2063.6 2199.3 2447.8 2781.5 125

126 Total liabilities and net worth 23819.8 26149.5 29466.7 33017.8 37160.5 39522.4 41953.4 43531.6 48091.4 53121.6 126

127 Liabilities 23659.4 26615.4 30635.8 34152.2 38198.9 40857.3 43087.8 44172.8 49219.7 54454.9 127

128 Currency and deposits 4341.4 4530.4 4781.7 5013.7 5351.6 5578.0 6065.6 6442.7 6914.2 7561.1 128

129 Debt securities 4023.1 4488.6 4978.9 5859.0 6779.7 7527.4 8465.8 9340.3 10200.2 11058.4 129

130 Agency- and GSE-backed securities (2) 2377.7 2609.2 2822.8 3294.4 3887.7 4319.7 4962.3 5509.0 5944.5 6060.3 130

131 Corporate bonds 1158.5 1300.4 1410.3 1657.9 1809.0 1993.0 2405.7 2833.5 3321.4 4042.1 131

132 Commercial paper 486.9 579.1 745.7 906.7 1082.9 1214.7 1097.8 997.9 934.4 956.0 132

133 Loans 1647.8 1834.0 2173.7 2383.3 2638.4 3027.9 3296.1 3531.9 3874.4 4485.0 133

134 Short term 1623.8 1802.1 2126.9 2311.7 2559.6 2944.4 3210.4 3435.0 3768.5 4353.7 134

135 Long term (mortgages) 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 135

136 Equity and investment fund shares 4552.5 5949.1 7671.6 8932.8 10330.4 11042.4 11113.7 10403.5 12192.4 13788.3 136

137 Money market fund shares 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 137

138 Corporate equity issues 1284.0 1939.4 2733.7 2912.5 2918.2 3273.1 3149.5 2854.0 3712.0 4286.1 138

139 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 139

140 Equity in government-sponsored enterprises (2) 18.3 19.7 21.5 25.5 31.6 33.8 37.1 39.1 42.3 44.8 140

141 Foreign direct investment in the United States 26.0 36.8 63.8 98.9 185.7 237.8 249.0 243.5 275.7 329.9 141

142 Equity in noncorporate business 5.4 6.5 9.5 9.6 11.5 11.7 6.2 5.0 13.0 11.2 142

143 Investment by parent 620.9 713.0 805.7 943.2 1063.5 1233.7 1288.9 1398.6 1483.4 1803.4 143

144 Stock in Federal Reserve Banks 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 144

145 Insurance, pension and standardized guarantee schemes 8161.9 8762.4 9753.2 10666.4 11595.8 11877.2 12074.5 12238.7 13541.7 14810.8 145

146 Other accounts payable 932.7 1051.0 1276.7 1297.0 1503.0 1804.4 2071.9 2215.8 2496.9 2751.2 146

147 Net worth 160.4 -465.9 -1169.1 -1134.4 -1038.4 -1334.9 -1134.3 -641.3 -1128.4 -1333.3 147

Notes. Financial business includes depository institutions, insurance companies, pension funds, monetary authority, and other financial institutions.

 Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.
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Historical Annuals, 1995-2004, March 10, 2016 151

S.61.a Central Bank

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added ND ND ND ND ND ND 3.0 2.5 2.0 2.2 1

 2 Less: Consumption of fixed capital 0.5 0.7 0.8 0.9 1.0 1.1 1.1 1.0 0.9 0.9 2

 3 Equals: Net value added ND ND ND ND ND ND 1.9 1.6 1.1 1.3 3

 4 Compensation of employees (paid) ND ND ND ND ND ND 1.4 1.5 1.5 1.5 4

 5 Wages and salaries ND ND ND ND ND ND 1.2 1.3 1.3 1.3 5

 6 Employers’ social contributions ND ND ND ND ND ND 0.2 0.2 0.2 0.2 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND 0.0 0.0 0.0 0.0 7

 8 Operating surplus, net ND ND ND ND ND ND 0.6 0.1 -0.4 -0.2 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND 29.5 24.2 20.8 20.6 9

10 Operating surplus, net ND ND ND ND ND ND 0.6 0.1 -0.4 -0.2 10

11 Property income (received) ND ND ND ND ND ND 30.9 25.8 22.9 22.6 11

12 Interest ND ND ND ND ND ND 30.9 25.8 22.9 22.6 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND 0.0 0.0 0.0 0.0 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND 0.0 0.0 0.0 0.0 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND 1.9 1.7 1.7 1.8 15

16 Interest ND ND ND ND ND ND 1.5 1.2 1.2 1.2 16

17 Distributed income of corporations ND ND ND ND ND ND 0.4 0.5 0.5 0.6 17

18 Dividends ND ND ND ND ND ND 0.4 0.5 0.5 0.6 18

19 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND 0.0 0.0 0.0 0.0 19

20 Reinvested earnings on foreign direct investment ND ND ND ND ND ND 0.0 0.0 0.0 0.0 20

21 Rents on land and natural resources ND ND ND ND ND ND 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net ND ND ND ND ND ND 29.5 24.2 20.8 20.6 22

23 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND 27.1 24.5 22.0 18.1 23

24 Less: Other current transfers (paid) ND ND ND ND ND ND 0.6 0.6 0.8 0.8 24

25 Equals: Disposable income, net ND ND ND ND ND ND 1.8 -0.9 -2.0 1.8 25

26 Equals: Net saving ND ND ND ND ND ND 1.8 -0.9 -2.0 1.8 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND 1.8 -0.9 -2.0 1.8 27

28 Net saving ND ND ND ND ND ND 1.8 -0.9 -2.0 1.8 28

29 Less: Capital transfers paid (net) ND ND ND ND ND ND 0.0 0.0 0.0 0.0 29

30 Capital formation, net 1.0 0.9 1.0 0.9 1.4 0.5 -0.0 -0.4 -0.2 -0.0 30

31 Gross fixed capital formation (nonresidential) 1.5 1.6 1.8 1.9 2.5 1.6 1.0 0.6 0.6 0.8 31

32 Less: Consumption of fixed capital 0.5 0.7 0.8 0.9 1.0 1.1 1.1 1.0 0.9 0.9 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND 1.9 -0.5 -1.8 1.8 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) ND ND ND ND ND ND 1.9 -0.5 -1.8 1.8 34

35 Net acquisition of financial assets 19.8 23.3 38.8 32.9 130.0 -60.9 47.0 70.7 43.2 44.4 35

36 Monetary gold -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 0.0 36

37 Currency and deposits 5.0 1.4 -4.5 2.4 -1.8 5.7 0.8 2.3 0.4 2.5 37

38 Debt securities 12.7 12.3 38.3 21.1 25.7 33.7 39.9 77.7 37.2 51.2 38

39 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 Treasury securities 13.7 12.7 39.8 21.4 25.8 33.7 40.0 77.7 37.3 51.2 40

41 Agency- and GSE-backed securities (2) -1.0 -0.4 -1.5 -0.3 -0.2 -0.1 -0.1 0.0 -0.0 0.0 41

42 Loans (short term) 3.2 7.7 4.2 4.5 110.5 -97.4 6.8 -10.7 4.3 -10.8 42

43 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

44 Other accounts receivable -1.0 2.0 0.7 4.9 -4.3 -2.9 -0.4 1.4 1.3 1.5 44

45 Net incurrence of liabilities 19.5 22.8 38.1 32.1 129.5 -61.3 46.5 69.6 42.7 41.7 45

46 Currency and deposits 18.2 22.8 36.0 31.5 130.5 -62.3 48.8 47.4 38.0 32.3 46

47 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 4.6 5.1 47

48 Equity shares (stock in Federal Reserve Banks) 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 48

49 Other accounts payable 1.1 -0.7 1.3 0.1 -1.4 0.4 -2.7 0.1 -0.3 1.2 49

 Addendum:

50 Net lending (+) or borrowing (-), financial account (lines 35-45) 0.3 0.5 0.7 0.7 0.5 0.4 0.5 1.1 0.5 2.8 50

 Other changes in volume account

51 Total other volume changes ND ND ND ND ND ND -1.3 1.6 2.3 1.0 51

52 Other volume changes ND ND ND ND ND ND 0.0 0.0 0.0 0.0 52

53 Less: Statistical discrepancy (lines 33-50) (3) ND ND ND ND ND ND 1.3 -1.6 -2.3 -1.0 53
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152 Historical Annuals, 1995-2004, March 10, 2016

S.61.a Central Bank

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Revaluation account

54 Nonfinancial assets -0.0 -0.1 -0.1 -0.0 0.0 0.1 -0.0 0.1 0.1 0.6 54

55 Structures (nonresidential) 0.0 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.1 0.5 55

56 Equipment -0.1 -0.1 -0.2 -0.2 -0.1 -0.1 -0.2 -0.1 -0.0 0.1 56

57 Intellectual property products -0.0 -0.0 -0.0 -0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 57

58 Changes in net worth due to nominal holding gains/losses -0.0 -0.1 -0.1 -0.0 0.0 0.1 -0.0 0.1 0.1 0.6 58

 Changes in balance sheet account

59 Change in net worth (lines 30+33+51+58) 1.2 1.4 1.7 1.6 1.9 0.9 0.5 0.8 0.3 3.3 59

 Balance sheet account (end of period)

60 Total assets 476.2 500.4 540.1 573.9 705.4 645.0 692.0 762.4 805.5 850.5 60

61 Nonfinancial assets (4) 4.3 5.2 6.1 7.0 8.5 9.1 9.0 8.7 8.6 9.2 61

62 Structures (nonresidential) 2.1 2.4 2.8 3.4 4.2 4.7 5.1 5.3 5.4 6.0 62

63 Equipment 2.0 2.4 3.0 3.3 3.9 3.9 3.4 3.0 2.7 2.6 63

64 Intellectual property products 0.3 0.3 0.4 0.4 0.4 0.5 0.5 0.5 0.5 0.6 64

65 Financial assets 471.9 495.2 534.0 566.8 696.9 635.9 683.0 753.6 796.8 841.3 65

66 Monetary gold 11.1 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 66

67 Currency and deposits 45.1 48.4 43.2 47.6 43.8 48.1 47.4 51.8 54.9 58.6 67

68 Debt securities 380.8 393.1 431.4 452.5 478.1 511.8 551.7 629.4 666.7 717.8 68

69 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 69

70 Treasury securities 378.2 390.9 430.7 452.1 478.0 511.7 551.7 629.4 666.7 717.8 70

71 Agency- and GSE-backed securities (2) 2.6 2.2 0.7 0.3 0.2 0.1 0.0 0.0 0.0 0.0 71

72 Loans (short term) 14.0 21.7 25.9 30.4 140.9 43.5 50.3 39.5 43.8 33.0 72

73 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 73

74 Other accounts receivable 20.9 20.9 22.4 25.3 23.0 21.5 22.5 21.8 20.4 20.8 74

75 Total liabilities and net worth 476.2 500.4 540.1 573.9 705.4 645.0 692.0 762.4 805.5 850.5 75

76 Liabilities 467.9 490.7 528.8 560.9 690.4 629.1 675.6 745.3 788.0 829.6 76

77 Currency and deposits 461.3 484.1 520.1 551.6 682.1 619.8 668.6 716.0 754.0 786.3 77

78 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21.1 25.7 30.8 78

79 Equity shares (stock in Federal Reserve Banks) 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 79

80 Other accounts payable 2.6 2.0 3.2 3.3 1.9 2.3 -0.3 -0.2 -0.6 0.6 80

81 Net worth 8.3 9.7 11.4 13.0 14.9 15.9 16.3 17.1 17.5 20.8 81

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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Historical Annuals, 1995-2004, March 10, 2016 153

S.62.a Private Depository Institutions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added ND ND ND ND ND ND 212.7 230.1 243.9 247.2 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND 26.0 26.7 27.8 29.3 2

 3 Equals: Net value added ND ND ND ND ND ND 186.6 203.4 216.0 217.9 3

 4 Compensation of employees (paid) ND ND ND ND ND ND 95.6 106.5 116.0 119.1 4

 5 Wages and salaries ND ND ND ND ND ND 80.6 89.2 99.1 101.6 5

 6 Employers’ social contributions ND ND ND ND ND ND 15.0 17.2 17.0 17.5 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND 5.0 5.2 5.7 6.0 7

 8 Operating surplus, net ND ND ND ND ND ND 86.0 91.7 94.4 92.9 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND 60.4 69.0 57.5 82.1 9

10 Operating surplus, net ND ND ND ND ND ND 86.0 91.7 94.4 92.9 10

11 Property income (received) ND ND ND ND ND ND 356.2 320.0 298.1 304.5 11

12 Interest ND ND ND ND ND ND 351.0 314.9 292.1 296.3 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND 2.3 1.9 1.9 1.8 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND 2.8 3.2 4.0 6.4 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND 381.8 342.6 335.0 315.2 15

16 Interest ND ND ND ND ND ND 323.1 267.5 243.7 247.6 16

17 Distributed income of corporations ND ND ND ND ND ND 60.2 75.0 90.5 64.4 17

18 Dividends ND ND ND ND ND ND 60.1 75.0 90.4 64.3 18

19 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND 0.1 0.1 0.1 0.1 19

20 Reinvested earnings on foreign direct investment ND ND ND ND ND ND -1.5 0.1 0.8 3.2 20

21 Rents on land and natural resources ND ND ND ND ND ND 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net ND ND ND ND ND ND 60.4 69.0 57.5 82.1 22

23 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND 32.6 37.0 38.7 42.7 23

24 Less: Other current transfers (paid) ND ND ND ND ND ND 3.0 3.1 3.3 3.5 24

25 Equals: Disposable income, net ND ND ND ND ND ND 24.8 28.9 15.5 35.9 25

26 Equals: Net saving ND ND ND ND ND ND 24.8 28.9 15.5 35.9 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND 24.8 28.9 15.5 35.9 27

28 Net saving ND ND ND ND ND ND 24.8 28.9 15.5 35.9 28

29 Less: Capital transfers paid (net) ND ND ND ND ND ND 0.0 0.0 0.0 0.0 29

30 Capital formation, net ND ND ND ND ND ND 4.6 3.0 3.0 4.4 30

31 Gross fixed capital formation (nonresidential) ND ND ND ND ND ND 30.6 29.7 30.8 33.7 31

32 Less: Consumption of fixed capital ND ND ND ND ND ND 26.0 26.7 27.8 29.3 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND 20.2 25.9 12.5 31.5 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) ND ND ND ND ND ND 20.2 25.9 12.5 31.5 34

35 Net acquisition of financial assets 255.6 236.2 435.2 397.3 409.1 561.8 367.5 624.1 611.3 991.4 35

36 Currency and deposits 4.5 -1.7 6.1 -0.6 14.4 -27.1 9.9 7.5 -6.5 -7.6 36

37 Vault cash 2.4 4.6 -0.2 -2.9 24.5 -22.2 2.9 0.5 0.1 -6.4 37

38 Reserves at the Federal Reserve -1.2 -5.1 6.3 -4.5 -2.3 -5.0 -1.6 5.1 0.5 1.0 38

39 Deposits at Federal Home Loan Banks 3.3 -1.2 0.0 6.8 -7.8 0.0 8.6 1.9 -7.1 -2.1 39

40 Debt securities 18.8 -5.2 89.8 101.6 111.1 34.8 157.0 207.4 173.6 62.3 40

41 Open market paper -1.6 0.7 -1.2 0.0 1.7 -0.5 1.2 -0.9 -0.8 0.1 41

42 Treasury securities -23.0 -19.4 3.7 -59.8 3.4 -39.2 -20.4 41.0 5.1 -27.3 42

43 Agency- and GSE-backed securities (2) 48.4 24.4 74.5 86.6 44.0 15.8 94.8 149.2 121.3 9.4 43

44 Municipal securities -4.2 1.0 2.5 8.6 6.4 3.5 7.7 2.5 11.8 8.9 44

45 Corporate and foreign bonds -0.8 -11.8 10.3 66.1 55.6 55.2 73.7 15.6 36.2 71.2 45

46 Loans 281.8 210.3 283.5 312.6 242.1 490.5 145.4 270.2 364.1 688.3 46

47 Short term 199.8 114.5 170.2 198.4 45.8 258.1 -35.2 -37.5 56.1 136.0 47

48 Long term (mortgages) 82.0 95.8 113.3 114.2 196.3 232.4 180.5 307.7 308.0 552.4 48

49 Equity and investment fund shares 7.3 7.9 6.9 10.1 11.9 16.5 17.8 8.6 4.6 9.8 49

50 Corporate equities 2.8 2.4 0.8 2.8 1.3 0.7 3.4 1.3 1.4 -1.4 50

51 Mutual fund shares 0.5 0.0 0.6 0.8 1.2 2.2 9.3 1.5 -5.6 -1.9 51

52 Equity in government-sponsored enterprises (2) 2.0 1.3 1.7 4.0 5.9 2.2 2.8 1.7 1.9 1.8 52

53 U.S. direct investment abroad 1.6 3.5 3.0 2.0 2.9 10.9 1.8 3.0 6.5 8.2 53

54 Stock in Federal Reserve Banks 0.3 0.6 0.8 0.5 0.5 0.6 0.4 1.0 0.5 3.1 54

55 Insurance, pension and standardized guarantee schemes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

56 Other accounts receivable -56.7 24.9 48.8 -26.3 29.6 47.2 37.4 130.5 75.4 238.6 56
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S.62.a Private Depository Institutions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

57 Net incurrence of liabilities 217.1 291.1 482.5 405.2 418.4 641.0 422.5 699.6 578.2 1102.9 57

58 Currency and deposits 116.4 167.6 215.3 192.9 212.8 282.3 383.6 306.3 419.4 571.6 58

59 Checkable deposits -45.8 -34.3 -21.0 -27.9 3.7 -78.4 63.1 -49.8 47.1 47.6 59

60 Other deposits 162.1 201.9 236.3 220.8 209.0 360.6 320.5 356.0 372.3 524.0 60

61 Debt securities 1.9 8.3 8.1 0.9 0.9 13.4 2.5 -0.9 6.2 12.6 61

62 Corporate bonds 2.7 7.3 10.8 10.3 3.8 14.1 5.7 -0.8 6.5 12.9 62

63 Commercial paper -0.8 1.0 -2.7 -9.4 -2.9 -0.7 -3.2 -0.2 -0.2 -0.3 63

64 Loans (short term) 21.0 33.9 107.6 162.6 116.7 118.5 37.8 95.4 24.6 110.2 64

65 Equity and investment fund shares 54.8 50.4 56.5 82.2 50.2 150.6 53.1 92.8 40.5 275.7 65

66 Corporate equity issues 2.6 3.2 3.2 3.8 3.8 4.4 8.2 5.5 9.1 5.6 66

67 Foreign direct investment in the United States 6.6 -0.1 7.7 5.5 19.5 5.8 6.4 2.1 4.2 17.9 67

68 Investment by parent 45.6 47.4 45.6 72.9 26.9 140.4 38.5 85.1 27.2 252.2 68

69 Other accounts payable 23.1 30.9 95.1 -33.5 37.8 76.2 -54.4 206.1 87.4 132.8 69

 Addendum:

70 Net lending (+) or borrowing (-), financial account (lines 35-57) 38.5 -54.9 -47.3 -7.9 -9.3 -79.3 -55.1 -75.5 33.1 -111.5 70

 Other changes in volume account

71 Total other volume changes ND ND ND ND ND ND -62.6 10.1 6.1 -176.1 71

72 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 0.0 0.0 -0.4 72

73 Other volume changes ND ND ND ND ND ND 12.9 111.5 -14.5 -32.8 73

74 Less: Statistical discrepancy (lines 33-70) (3) ND ND ND ND ND ND 75.2 101.4 -20.6 142.9 74

 Revaluation account

75 Nonfinancial assets 2.5 1.3 2.5 3.7 4.0 4.3 0.9 -2.3 -2.2 13.3 75

76 Structures (nonresidential) 2.2 2.6 4.7 5.8 5.3 4.8 4.4 3.3 3.0 14.6 76

77 Equipment 0.4 -1.1 -2.2 -2.1 -1.4 -0.6 -3.1 -3.9 -3.2 0.2 77

78 Intellectual property products -0.1 -0.2 -0.1 -0.0 0.1 0.0 -0.5 -1.6 -2.1 -1.4 78

79 Financial assets 3.8 4.4 3.8 -6.7 7.9 -1.7 -3.6 -17.2 20.7 39.6 79

80 Corporate equities 3.3 2.8 5.4 6.9 5.0 0.6 -6.4 -11.1 17.1 9.9 80

81 Mutual fund shares 0.0 0.0 0.0 1.4 0.9 0.1 -1.5 -3.5 3.7 2.0 81

82 U.S. direct investment abroad 0.6 1.5 -1.6 -15.0 1.9 -2.4 4.3 -2.6 -0.1 27.8 82

83 Liabilities 160.8 166.9 301.5 -8.3 -103.3 11.3 50.6 -42.3 268.0 146.2 83

84 Corporate equity issues 161.0 169.1 300.6 -10.2 -99.7 14.8 54.1 -46.3 260.3 126.6 84

85 Foreign direct investment in the United States -0.2 -2.3 0.8 1.9 -3.6 -3.5 -3.5 4.0 7.7 19.6 85

86 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 86

87 Changes in net worth due to nominal holding gains/losses -154.5 -161.2 -295.2 5.3 115.2 -8.6 -53.4 22.9 -249.5 -93.3 87

 Changes in balance sheet account

88 Change in net worth (lines 30+33+71+87) -177.4 -215.8 -339.5 93.3 106.9 -75.6 -91.2 61.8 -227.9 -233.5 88

 Balance sheet account (end of period)

89 Total assets 5605.9 5848.1 6299.4 6743.7 7174.0 7761.4 8146.9 8801.4 9438.6 10427.0 89

90 Nonfinancial assets (4) 204.1 210.1 219.4 232.7 245.7 257.0 264.3 270.4 279.0 303.2 90

91 Structures (nonresidential) 101.0 106.5 115.8 125.4 134.7 143.6 153.5 160.7 167.6 187.9 91

92 Equipment 98.5 99.0 99.1 101.7 103.7 104.2 100.4 97.5 97.6 99.6 92

93 Intellectual property products 4.5 4.5 4.5 5.7 7.3 9.1 10.4 12.2 13.8 15.7 93

94 Financial assets 5401.8 5638.0 6080.0 6511.0 6928.3 7504.4 7882.6 8531.0 9159.6 10123.8 94

95 Currency and deposits 89.4 87.7 93.9 93.2 107.7 80.5 90.5 98.0 91.5 84.0 95

96 Vault cash 40.6 45.2 45.0 42.1 66.6 44.4 47.3 47.8 48.0 41.5 96

97 Reserves at the Federal Reserve 29.6 24.5 30.8 26.3 24.0 19.0 17.5 22.5 23.1 24.0 97

98 Deposits at Federal Home Loan Banks 19.3 18.0 18.0 24.9 17.1 17.1 25.7 27.6 20.5 18.4 98

99 Debt securities 1273.3 1268.1 1357.9 1458.0 1569.2 1603.9 1759.4 1966.8 2140.4 2222.7 99

100 Open market paper 6.4 7.1 2.9 1.5 3.2 2.7 2.4 1.5 0.7 0.8 100

101 Treasury securities 312.0 292.6 296.3 236.5 239.9 200.7 180.3 221.3 150.3 123.0 101

102 Agency- and GSE-backed securities (2) 673.1 697.5 772.0 858.6 902.6 918.4 1013.2 1162.4 1281.7 1311.1 102

103 Municipal securities 95.4 96.3 98.8 107.3 113.8 117.3 125.0 127.5 139.3 148.2 103

104 Corporate and foreign bonds 186.5 174.7 188.0 254.1 309.7 364.9 438.6 454.1 568.4 639.6 104

105 Loans 3719.0 3929.3 4212.3 4524.9 4766.9 5257.4 5403.4 5674.1 6089.7 6778.0 105

106 Short term 1981.1 2082.5 2252.2 2450.6 2496.3 2754.4 2719.8 2682.9 2790.4 2926.4 106

107 Long term (mortgages) 1737.9 1846.8 1960.1 2074.3 2270.6 2503.0 2683.5 2991.3 3299.3 3851.6 107
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S.62.a Private Depository Institutions

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

108 Equity and investment fund shares 81.3 93.5 104.3 107.7 127.4 142.2 156.4 147.8 173.1 222.5 108

109 Corporate equities 19.3 24.5 25.9 35.7 42.0 43.3 40.3 30.6 49.0 57.5 109

110 Mutual fund shares 5.2 5.2 10.6 12.8 14.9 17.2 25.1 23.1 21.2 21.3 110

111 Equity in government-sponsored enterprises (2) 15.1 16.4 18.1 22.1 28.0 30.2 33.0 34.7 36.6 38.4 111

112 U.S. direct investment abroad 37.9 42.8 44.2 31.2 36.0 44.5 50.6 51.0 57.5 93.5 112

113 Stock in Federal Reserve Banks 4.0 4.6 5.4 6.0 6.4 7.0 7.4 8.4 8.8 11.9 113

114 Insurance, pension and standardized guarantee schemes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 114

115 Other accounts receivable 238.7 259.3 311.7 327.2 357.2 420.3 473.0 644.3 664.9 816.6 115

116 Total liabilities and net worth 5605.9 5848.1 6299.4 6743.7 7174.0 7761.4 8146.9 8801.4 9438.6 10427.0 116

117 Liabilities 5934.2 6392.2 7183.0 7534.0 7857.4 8520.4 8997.1 9589.8 10454.9 11676.8 117

118 Currency and deposits 3860.8 4028.2 4243.5 4436.4 4649.2 4931.4 5346.6 5652.8 6072.2 6669.3 118

119 Checkable deposits 820.2 785.9 764.9 737.0 740.8 662.4 757.0 707.3 754.4 802.0 119

120 Other deposits 3040.6 3242.3 3478.6 3699.4 3908.4 4269.0 4589.5 4945.6 5317.9 5867.3 120

121 Debt securities 69.0 77.3 85.4 86.3 87.1 100.6 103.1 102.2 108.4 121.0 121

122 Corporate bonds 46.3 53.6 64.5 74.7 78.5 92.6 98.3 97.5 104.0 116.9 122

123 Commercial paper 22.6 23.6 20.9 11.5 8.6 7.9 4.8 4.6 4.4 4.1 123

124 Loans (short term) 567.3 601.2 708.7 871.4 988.1 1106.6 1144.4 1239.8 1280.4 1390.6 124

125 Equity and investment fund shares 922.3 1139.6 1497.6 1571.5 1518.4 1680.3 1775.9 1826.3 2134.8 2556.8 125

126 Corporate equity issues 488.3 660.6 964.4 958.1 862.3 881.4 943.7 902.9 1172.3 1304.5 126

127 Foreign direct investment in the United States 32.7 30.3 38.8 46.1 62.0 64.2 67.2 73.3 85.2 122.7 127

128 Investment by parent 401.3 448.7 494.3 567.3 594.2 734.6 765.0 850.1 877.4 1129.5 128

129 Other accounts payable 514.8 545.9 647.8 568.5 614.6 701.5 627.2 768.7 859.0 939.2 129

130 Net worth -328.3 -544.1 -883.6 -790.3 -683.4 -759.0 -850.2 -788.4 -1016.3 -1249.8 130

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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156 Historical Annuals, 1995-2004, March 10, 2016

S.63.a Insurance Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added ND ND ND ND ND ND 215.1 181.4 200.7 254.2 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND 18.6 19.9 21.6 23.5 2

 3 Equals: Net value added ND ND ND ND ND ND 196.6 161.5 179.1 230.7 3

 4 Compensation of employees (paid) ND ND ND ND ND ND 91.6 93.6 98.1 104.0 4

 5 Wages and salaries ND ND ND ND ND ND 76.1 77.5 82.4 87.2 5

 6 Employers’ social contributions ND ND ND ND ND ND 15.5 16.1 15.7 16.8 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND 14.0 15.1 17.0 18.9 7

 8 Operating surplus, net ND ND ND ND ND ND 90.9 52.8 64.1 107.8 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND 22.9 9.0 17.7 68.9 9

10 Operating surplus, net ND ND ND ND ND ND 90.9 52.8 64.1 107.8 10

11 Property income (received) ND ND ND ND ND ND 203.7 211.4 206.4 219.2 11

12 Interest ND ND ND ND ND ND 191.3 197.3 191.6 199.3 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND 9.1 9.0 8.0 11.9 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND 3.2 5.1 6.8 7.9 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND 271.7 255.2 252.8 258.1 15

16 Interest ND ND ND ND ND ND 253.8 232.3 231.8 237.5 16

17 Distributed income of corporations ND ND ND ND ND ND 18.9 22.8 20.6 19.1 17

18 Dividends ND ND ND ND ND ND 13.7 16.7 14.7 13.0 18

19 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND 5.2 6.1 5.9 6.2 19

20 Reinvested earnings on foreign direct investment ND ND ND ND ND ND -1.0 0.1 0.4 1.5 20

21 Rents on land and natural resources ND ND ND ND ND ND 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net ND ND ND ND ND ND 22.9 9.0 17.7 68.9 22

23 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND 11.1 13.1 26.4 31.5 23

24 Less: Other current transfers (paid) ND ND ND ND ND ND 20.9 -5.6 -27.0 -13.1 24

25 Equals: Disposable income, net ND ND ND ND ND ND -9.2 1.5 18.2 50.5 25

26 Equals: Net saving ND ND ND ND ND ND -9.2 1.5 18.2 50.5 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND -16.9 1.5 18.2 34.3 27

28 Net saving ND ND ND ND ND ND -9.2 1.5 18.2 50.5 28

29 Less: Capital transfers paid (net) ND ND ND ND ND ND 7.7 0.0 0.0 16.2 29

30 Capital formation, net ND ND ND ND ND ND 4.6 2.2 4.1 2.7 30

31 Gross fixed capital formation (nonresidential) ND ND ND ND ND ND 23.1 22.1 25.7 26.2 31

32 Less: Consumption of fixed capital ND ND ND ND ND ND 18.6 19.9 21.6 23.5 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND -21.5 -0.7 14.1 31.6 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) ND ND ND ND ND ND -21.5 -0.7 14.1 31.6 34

35 Net acquisition of financial assets 182.5 141.6 250.8 203.5 164.3 210.4 264.6 361.6 347.9 345.2 35

36 Currency and deposits -0.6 -1.8 4.1 -2.9 0.3 -1.1 41.3 11.3 20.7 -2.7 36

37 Debt securities 119.9 91.6 127.0 79.1 30.3 46.9 119.7 267.7 243.3 234.9 37

38 Open market paper -3.3 1.9 17.4 11.2 -5.2 0.5 -25.9 6.9 -19.8 -11.9 38

39 Treasury securities 2.7 -27.8 3.6 -33.8 -21.2 -11.7 -0.5 45.9 5.1 22.0 39

40 Agency- and GSE-backed securities (2) 11.0 4.1 -1.3 -10.8 12.8 19.6 28.3 96.4 20.2 4.9 40

41 Municipal securities 6.1 15.9 2.7 18.2 -7.4 -15.8 -10.7 10.4 47.4 47.6 41

42 Corporate and foreign bonds 103.4 97.5 104.6 94.2 51.2 54.4 128.5 108.1 190.4 172.3 42

43 Loans 6.8 -0.8 2.8 8.5 11.2 8.8 13.3 13.6 9.0 16.5 43

44 Short term 10.4 4.6 4.3 2.0 -4.5 3.9 5.9 6.5 -2.1 3.7 44

45 Long term (mortgages) -3.6 -5.4 -1.5 6.5 15.7 4.9 7.3 7.1 11.0 12.7 45

46 Equity and investment fund shares 38.7 46.2 90.1 97.2 129.0 126.9 68.8 75.9 47.8 75.9 46

47 Corporate equities 27.3 37.4 74.6 77.1 115.1 111.8 69.5 51.6 41.6 46.9 47

48 Mutual fund shares 4.2 4.8 7.6 9.7 10.1 5.9 2.5 2.5 1.8 13.8 48

49 Money market mutual fund shares 3.0 -0.6 0.1 2.7 -4.9 3.6 -3.0 7.4 -0.6 3.7 49

50 Equity in government-sponsored enterprises (2) -0.0 0.1 0.0 0.0 0.1 0.0 -0.1 0.2 0.7 0.6 50

51 U.S. direct investment abroad 4.2 4.4 7.9 7.6 8.5 5.5 -0.1 14.1 4.4 10.9 51

52 Insurance, pension and standardized guarantee schemes 0.7 0.8 0.3 -1.4 2.1 0.1 -0.4 0.9 0.9 1.6 52

53 Other accounts receivable 17.0 5.7 26.4 23.1 -8.6 28.8 22.0 -7.7 26.3 19.1 53

54 Net incurrence of liabilities 140.2 100.3 183.5 172.8 163.6 196.7 277.0 312.7 289.6 266.6 54

55 Currency and deposits (funding agreements) 0.0 0.0 0.0 0.7 2.5 6.3 15.2 21.4 21.2 19.7 55

56 Loans (short term) -0.1 1.1 0.2 0.7 0.7 -0.7 3.6 13.9 4.9 0.9 56
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Historical Annuals, 1995-2004, March 10, 2016 157

S.63.a Insurance Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

57 Equity and investment fund shares -1.9 -6.9 -4.8 -5.4 9.3 31.7 4.7 15.1 1.8 -2.8 57

58 Corporate equity issues -5.8 -13.6 -17.7 -9.4 -13.8 -5.3 -0.4 -0.3 0.2 -21.3 58

59 Foreign direct investment in the United States 3.8 6.7 12.9 4.0 23.0 37.0 6.4 11.4 -2.2 16.0 59

60 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 -1.4 4.0 3.8 2.5 60

61 Insurance, pension and standardized guarantee schemes 134.0 98.5 166.7 162.7 135.3 169.3 222.2 245.2 226.7 233.5 61

62 Other accounts payable 8.2 7.5 21.4 14.1 15.9 -9.9 31.4 17.1 35.0 15.4 62

 Addendum:

63 Net lending (+) or borrowing (-), financial account (lines 35-54) 42.3 41.3 67.3 30.6 0.7 13.7 -12.4 48.8 58.3 78.6 63

 Other changes in volume account

64 Total other volume changes ND ND ND ND ND ND 50.0 103.7 -4.2 19.0 64

65 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.0 0.0 -0.1 65

66 Other volume changes ND ND ND ND ND ND 41.0 54.1 -48.4 -27.9 66

67 Less: Statistical discrepancy (lines 33-63) (3) ND ND ND ND ND ND -9.1 -49.6 -44.2 -47.0 67

 Revaluation account

68 Nonfinancial assets 1.9 1.1 2.2 2.9 3.7 3.9 2.1 1.9 1.5 10.6 68

69 Structures (nonresidential) 1.9 2.1 3.4 4.3 3.9 3.7 3.6 3.1 2.8 10.2 69

70 Equipment -0.0 -0.8 -1.2 -1.5 -0.7 -0.4 -1.3 -0.8 -0.6 0.6 70

71 Intellectual property products 0.1 -0.2 -0.1 0.1 0.5 0.6 -0.2 -0.4 -0.6 -0.3 71

72 Financial assets 80.1 70.9 106.2 85.9 124.3 -154.4 -182.1 -170.6 215.9 112.3 72

73 Corporate equities 72.7 73.9 95.2 80.0 117.9 -142.6 -170.5 -175.5 197.2 105.3 73

74 Mutual fund shares 5.3 4.6 7.8 6.8 15.9 -7.5 -11.2 -14.4 15.3 10.5 74

75 U.S. direct investment abroad 2.2 -7.6 3.3 -0.9 -9.5 -4.4 -0.4 19.3 3.4 -3.4 75

76 Liabilities 119.0 126.5 187.4 103.8 94.8 94.8 -143.5 -182.1 274.8 115.2 76

77 Corporate equity issues 89.3 81.0 146.7 49.7 28.7 209.7 -24.3 -63.7 157.8 61.5 77

78 Foreign direct investment in the United States 8.0 -1.3 2.3 -0.8 -14.0 -16.8 -5.0 -3.6 4.1 -2.8 78

79 Pension fund reserves 21.6 46.7 38.4 54.8 80.2 -98.2 -114.1 -114.7 112.9 56.5 79

80 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 Changes in net worth due to nominal holding gains/losses -36.9 -54.5 -78.9 -15.0 33.2 -245.3 -36.5 13.3 -57.4 7.7 81

 Changes in balance sheet account

82 Change in net worth (lines 30+33+64+81) -21.7 -21.7 -37.4 13.5 -1.1 -205.9 -3.4 118.5 -43.4 61.0 82

 Balance sheet account (end of period)

83 Total assets 2931.3 3147.6 3496.1 3794.2 4097.8 4165.1 4259.3 4455.6 5026.6 5498.8 83

84 Nonfinancial assets (4) 127.4 131.3 137.7 148.2 160.0 171.3 179.8 185.9 194.4 209.4 84

85 Structures (nonresidential) 78.1 82.1 88.0 94.2 99.3 103.5 108.4 111.0 113.7 123.1 85

86 Equipment 36.2 36.7 37.4 40.0 43.0 45.7 46.1 46.3 48.0 50.2 86

87 Intellectual property products 13.1 12.5 12.3 14.0 17.6 22.1 25.3 28.6 32.6 36.1 87

88 Financial assets 2803.9 3016.3 3358.4 3645.9 3937.8 3993.8 4079.5 4269.7 4832.3 5289.4 88

89 Currency and deposits 10.0 8.3 12.4 9.4 9.7 8.6 49.9 61.2 81.8 79.1 89

90 Debt securities 1765.7 1857.2 1972.4 2051.5 2084.4 2131.3 2251.0 2518.6 2762.0 2996.9 90

91 Open market paper 64.3 66.2 83.5 94.8 89.9 90.4 64.5 71.4 51.6 39.7 91

92 Treasury securities 247.2 219.4 181.9 148.1 127.6 115.9 115.4 161.3 166.4 188.5 92

93 Agency- and GSE-backed securities (2) 291.0 295.1 297.5 286.7 299.9 319.5 347.7 444.1 464.3 469.3 93

94 Municipal securities 172.9 188.7 208.3 226.5 219.1 203.2 192.5 202.9 250.3 297.9 94

95 Corporate and foreign bonds 990.3 1087.7 1201.2 1295.4 1348.0 1402.3 1530.8 1638.9 1829.3 2001.6 95

96 Loans 315.0 314.1 317.0 325.5 338.1 346.9 360.2 373.7 382.7 399.2 96

97 Short term 99.0 103.6 107.9 109.9 105.4 109.3 115.3 121.7 119.7 123.4 97

98 Long term (mortgages) 216.0 210.6 209.1 215.6 232.7 237.6 244.9 252.0 263.0 275.8 98

99 Equity and investment fund shares 542.9 659.9 856.3 1039.3 1292.6 1265.0 1151.8 1057.1 1320.8 1509.0 99

100 Corporate equities 443.1 554.4 724.1 881.1 1114.1 1083.3 982.3 858.4 1097.2 1249.4 100

101 Mutual fund shares 34.2 43.5 58.9 75.4 101.5 99.9 91.2 79.4 96.5 120.8 101

102 Money market fund shares 22.2 21.6 21.7 24.4 19.5 23.2 20.2 27.6 27.0 30.7 102

103 Equity in government-sponsored enterprises (2) 0.1 0.2 0.2 0.2 0.3 0.4 0.3 0.5 1.1 1.7 103

104 U.S. direct investment abroad 43.4 40.2 51.4 58.1 57.1 58.3 57.8 91.2 99.0 106.5 104

105 Insurance, pension and standardized guarantee schemes 17.5 18.3 18.6 17.2 19.4 19.6 19.1 20.0 20.9 22.5 105

106 Other accounts receivable 152.9 158.5 181.8 203.1 193.5 222.3 247.6 239.1 264.0 282.8 106
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S.63.a Insurance Companies

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

107 Total liabilities and net worth 2931.3 3147.6 3496.1 3794.2 4097.8 4165.1 4259.3 4455.6 5026.6 5498.8 107

108 Liabilities 2749.4 2987.4 3373.3 3657.9 3962.6 4235.8 4333.5 4411.2 5025.6 5436.8 108

109 Currency and deposits (funding agreements) 0.0 0.0 0.0 0.8 3.3 9.6 24.8 46.2 67.4 87.1 109

110 Loans (short term) 0.5 1.6 1.8 2.5 3.2 2.5 6.1 20.0 24.8 25.7 110

111 Equity and investment fund shares 341.2 414.1 558.2 601.8 625.7 850.3 842.6 790.3 954.1 1010.0 111

112 Corporate equity issues 290.6 358.0 486.9 527.2 542.1 746.6 721.8 657.8 815.8 856.1 112

113 Foreign direct investment in the United States 50.6 56.1 71.3 74.6 83.6 103.8 105.2 112.9 114.8 128.0 113

114 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 15.6 19.6 23.4 25.9 114

115 Insurance, pension and standardized guarantee schemes 2334.9 2494.2 2714.9 2939.8 3195.0 3228.5 3293.3 3378.0 3769.7 4088.2 115

116 Other accounts payable 72.8 77.5 98.4 113.1 135.4 144.9 166.7 176.7 209.6 225.8 116

117 Net worth 181.9 160.2 122.8 136.3 135.2 -70.7 -74.1 44.4 1.0 62.0 117

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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Historical Annuals, 1995-2004, March 10, 2016 159

S.64.a Pension Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added ND ND ND ND ND ND 0.0 0.0 0.0 0.0 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND 0.0 0.0 0.0 0.0 2

 3 Equals: Net value added ND ND ND ND ND ND 0.0 0.0 0.0 0.0 3

 4 Compensation of employees (paid) ND ND ND ND ND ND 0.0 0.0 0.0 0.0 4

 5 Wages and salaries ND ND ND ND ND ND 0.0 0.0 0.0 0.0 5

 6 Employers’ social contributions ND ND ND ND ND ND 0.0 0.0 0.0 0.0 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND 0.0 0.0 0.0 0.0 7

 8 Operating surplus, net ND ND ND ND ND ND 0.0 0.0 0.0 0.0 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND 0.0 0.0 0.0 0.0 9

10 Operating surplus, net ND ND ND ND ND ND 0.0 0.0 0.0 0.0 10

11 Property income (received) ND ND ND ND ND ND 308.9 331.3 345.8 357.2 11

12 Interest ND ND ND ND ND ND 248.9 270.3 280.9 279.8 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND 60.0 61.0 64.9 77.4 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND 0.0 0.0 0.0 0.0 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND 308.9 331.3 345.8 357.2 15

16 Interest ND ND ND ND ND ND 248.9 270.3 280.9 279.8 16

17 Distributed income of corporations ND ND ND ND ND ND 60.0 61.0 64.9 77.4 17

18 Dividends ND ND ND ND ND ND 60.0 61.0 64.9 77.4 18

19 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND 0.0 0.0 0.0 0.0 19

20 Reinvested earnings on foreign direct investment ND ND ND ND ND ND 0.0 0.0 0.0 0.0 20

21 Rents on land and natural resources ND ND ND ND ND ND 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net ND ND ND ND ND ND 0.0 0.0 0.0 0.0 22

23 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND 0.0 0.0 0.0 0.0 23

24 Plus: Other current transfers received, net ND ND ND ND ND ND 0.1 -0.2 0.0 -0.1 24

25 Equals: Disposable income, net ND ND ND ND ND ND 0.1 -0.2 0.0 -0.1 25

26 Equals: Net saving ND ND ND ND ND ND 0.1 -0.2 0.0 -0.1 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND 0.1 -0.2 0.0 -0.1 27

28 Net saving ND ND ND ND ND ND 0.1 -0.2 0.0 -0.1 28

29 Less: Capital transfers (net) ND ND ND ND ND ND 0.0 0.0 0.0 0.0 29

30 Capital formation, net ND ND ND ND ND ND 0.0 0.0 0.0 0.0 30

31 Gross fixed capital formation (nonresidential) ND ND ND ND ND ND 0.0 0.0 0.0 0.0 31

32 Less: Consumption of fixed capital ND ND ND ND ND ND 0.0 0.0 0.0 0.0 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND 0.1 -0.2 0.0 -0.1 33

 Addenda:

34 Other current transfers received, net (line 24) ND ND ND ND ND ND 0.1 -0.2 0.0 -0.1 34

35 Contributions received ND ND ND ND ND ND 781.6 824.0 859.0 913.8 35

36 Claims to pension benefits ND ND ND ND ND ND 474.6 494.7 515.3 558.7 36

37 Actual employer contributions ND ND ND ND ND ND 244.7 290.5 339.1 331.1 37

38 Imputed employer contributions ND ND ND ND ND ND 64.3 31.7 -0.9 37.0 38

39 Actual household contributions ND ND ND ND ND ND 180.3 187.5 192.2 207.7 39

40 Less: pension service charges for defined benefit (DB) plans ND ND ND ND ND ND 14.7 15.0 15.1 17.1 40

41 Household pension contribution supplements ND ND ND ND ND ND 309.0 331.3 345.7 357.2 41

42 Less: pension service charge for defined contribution (DC) plans ND ND ND ND ND ND 2.0 2.0 2.0 2.1 42

43 Less: benefit payments and withdrawals ND ND ND ND ND ND 525.1 541.6 541.9 590.8 43

44 Less: net change in benefit entitlements from DB plans ND ND ND ND ND ND 153.3 169.5 191.2 201.2 44

45 Less: net change in assets from current transaction for DC plans ND ND ND ND ND ND 103.1 113.1 125.9 121.9 45

 Financial account

46 Net lending (+) or borrowing (-) (line 33) ND ND ND ND ND ND 0.1 -0.2 0.0 -0.1 46

47 Net acquisition of financial assets 267.9 276.0 312.0 380.4 302.4 310.2 337.7 335.2 481.7 491.5 47

48 Currency and deposits 8.4 10.7 10.4 33.2 -39.0 -19.0 -35.5 -2.1 3.5 -1.3 48

49 Currency and transferable deposits -1.7 4.0 -0.8 3.8 0.6 4.1 0.7 1.8 0.9 -0.8 49

50 Time and savings deposits 10.1 6.7 11.1 29.4 -39.6 -23.0 -36.2 -3.9 2.6 -0.5 50

51 Debt securities 61.9 87.4 145.2 96.7 192.8 -63.2 -13.5 -17.5 122.2 72.7 51

52 Open market paper 4.5 2.7 2.1 12.7 9.6 0.1 -4.3 1.7 -10.7 -8.5 52

53 Treasury securities 7.5 66.2 50.3 24.2 46.8 -6.9 37.8 37.5 32.5 42.0 53

54 Agency- and GSE-backed securities (2) 25.0 -5.7 24.6 2.4 63.2 16.7 10.0 -6.4 84.8 8.1 54

55 Municipal securities 0.7 -1.3 0.9 1.7 -0.2 -1.3 -0.1 -0.8 3.5 -1.8 55

56 Corporate and foreign bonds 24.2 25.6 67.3 55.7 73.5 -71.8 -56.9 -49.5 12.1 32.8 56
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S.64.a Pension Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

57 Loans 5.5 3.1 3.3 14.7 9.9 -9.0 -18.1 -4.8 -3.0 -12.7 57

58 Short term 3.9 1.6 1.6 10.1 4.8 -5.6 -14.7 -5.5 -2.2 -7.1 58

59 Long term (mortgages) 1.5 1.5 1.7 4.6 5.1 -3.3 -3.3 0.7 -0.8 -5.6 59

60 Equity and investment fund shares 17.9 -2.4 -38.8 29.3 -98.7 245.9 293.6 149.9 56.9 136.8 60

61 Corporate equities -68.6 -69.1 -134.1 -55.0 -185.8 82.4 223.0 36.0 46.7 39.2 61

62 Mutual fund shares 79.3 53.8 79.9 81.6 73.2 157.8 74.4 104.4 12.5 90.8 62

63 Money market mutual fund shares 7.3 12.9 15.5 2.6 13.9 5.7 -3.8 9.5 -2.3 6.9 63

64 Insurance, pension and standardized guarantee schemes 167.6 156.6 182.4 216.2 216.4 158.0 152.6 208.5 304.0 267.9 64

65 Other accounts receivable 6.5 20.5 9.5 -9.7 21.1 -2.6 -41.5 1.3 -1.9 28.1 65

66 Net incurrence of liabilities (pension entitlements) 268.0 276.1 312.1 380.5 302.6 310.3 337.8 335.2 481.7 491.7 66

 Addendum:

67 Net lending (+) or borrowing (-), financial account (lines 47-66) -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.0 -0.0 -0.3 67

 Other changes in volume account

68 Total other volume changes ND ND ND ND ND ND 244.5 456.0 -701.7 -322.7 68

69 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 69

70 Other volume changes ND ND ND ND ND ND 244.7 455.8 -701.6 -322.5 70

71 Less: Statistical discrepancy (lines 33-67) (3) ND ND ND ND ND ND 0.2 -0.2 0.0 0.2 71

 Revaluation account

72 Nonfinancial assets 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.4 72

73 Structures (nonresidential) 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.4 73

74 Equipment -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 74

75 Intellectual property products -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 75

76 Financial assets 588.7 438.0 706.7 571.8 771.6 -510.9 -577.2 -731.3 1123.6 486.3 76

77 Corporate equities 498.8 365.8 558.9 478.4 521.4 -457.5 -336.1 -568.5 866.5 361.2 77

78 Mutual fund shares 89.9 72.1 147.8 93.4 250.2 -53.4 -241.1 -162.8 257.1 125.1 78

79 Liabilities (pension entitlements) 237.5 159.0 304.2 223.1 319.0 -105.0 -330.3 -280.6 424.3 161.6 79

80 Changes in net worth due to nominal holding gains/losses 351.3 279.0 402.6 348.9 452.7 -405.7 -246.8 -450.5 699.4 325.1 80

 Changes in balance sheet account

81 Change in net worth (lines 30+33+68+80) -4.8 -5.4 -4.0 -9.2 -11.2 11.0 -2.2 5.2 -2.3 2.3 81

 Balance sheet account (end of period)

82 Total assets 5761.3 6197.1 6963.1 7642.3 8305.3 8564.2 8694.5 8779.2 9688.2 10641.1 82

83 Nonfinancial assets (4) 2.2 2.4 2.6 2.9 3.1 3.3 3.6 3.7 3.8 4.4 83

84 Structures (nonresidential) 2.2 2.3 2.6 2.8 3.0 3.3 3.5 3.6 3.8 4.4 84

85 Equipment 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.0 85

86 Intellectual property products 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 86

87 Financial assets 5759.1 6194.7 6960.5 7639.4 8302.2 8560.8 8691.0 8775.5 9684.4 10636.6 87

88 Currency and deposits 123.8 134.4 145.0 178.2 139.1 120.2 84.7 82.6 86.1 84.8 88

89 Currency and transferable deposits 9.1 13.0 12.3 16.1 16.7 20.7 21.4 23.2 24.2 23.4 89

90 Time and savings deposits 114.7 121.4 132.7 162.1 122.5 99.4 63.3 59.4 61.9 61.4 90

91 Debt securities 1614.7 1702.1 1849.2 1945.9 2138.7 2075.5 2062.0 2044.5 2166.7 2239.4 91

92 Open market paper 56.3 59.0 62.0 74.6 84.2 84.4 80.0 81.8 71.0 62.5 92

93 Treasury securities 848.9 915.0 965.6 989.8 1036.5 1029.6 1067.4 1104.9 1137.5 1179.5 93

94 Agency- and GSE-backed securities (2) 276.8 271.1 296.0 298.4 361.6 378.3 388.3 381.9 466.7 474.8 94

95 Municipal securities 1.8 0.6 1.5 3.3 3.0 1.7 1.7 0.9 4.4 2.5 95

96 Corporate and foreign bonds 430.9 456.4 524.1 579.9 653.3 581.5 524.5 475.1 487.1 520.0 96

97 Loans 78.4 81.6 84.9 99.5 109.4 100.4 82.4 77.5 74.6 61.9 97

98 Short term 53.9 55.6 57.2 67.2 72.0 66.4 51.6 46.1 43.9 36.8 98

99 Long term (mortgages) 24.5 26.0 27.7 32.3 37.4 34.1 30.7 31.4 30.6 25.0 99

100 Equity and investment fund shares 2435.5 2871.0 3616.8 4217.9 4890.8 4895.8 4612.2 4030.8 5211.3 5834.4 100

101 Corporate equities 1971.8 2268.5 2714.9 3138.3 3473.9 3368.8 3255.7 2723.2 3636.4 4036.7 101

102 Mutual fund shares 419.9 545.9 829.7 1004.8 1328.2 1432.6 1266.0 1207.6 1477.2 1693.1 102

103 Money market fund shares 43.8 56.7 72.2 74.8 88.7 94.4 90.5 100.0 97.7 104.6 103

104 Insurance, pension and standardized guarantee schemes 1406.6 1284.9 1133.6 1061.8 866.9 1214.3 1736.5 2425.6 2033.2 2275.5 104

105 Other accounts receivable 100.1 120.6 131.2 136.1 157.3 154.7 113.2 114.5 112.6 140.7 105
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S.64.a Pension Funds

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

106 Total liabilities and net worth 5761.3 6197.1 6963.1 7642.3 8305.3 8564.2 8694.5 8779.2 9688.2 10641.1 106

107 Liabilities (pension entitlements) 5827.0 6268.2 7038.3 7726.6 8400.8 8648.7 8781.3 8860.7 9772.0 10722.6 107

108 Net worth -65.7 -71.1 -75.1 -84.4 -95.5 -84.5 -86.7 -81.5 -83.8 -81.5 108

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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162 Historical Annuals, 1995-2004, March 10, 2016

S.65.a Other Financial Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added ND ND ND ND ND ND 416.4 435.0 439.1 418.6 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND 70.0 74.5 79.7 85.7 2

 3 Equals: Net value added ND ND ND ND ND ND 346.5 360.4 359.4 332.9 3

 4 Compensation of employees (paid) ND ND ND ND ND ND 257.0 242.5 245.0 274.0 4

 5 Wages and salaries ND ND ND ND ND ND 217.2 203.1 207.9 232.9 5

 6 Employers’ social contributions ND ND ND ND ND ND 39.9 39.4 37.1 41.1 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND 18.6 19.5 20.3 21.7 7

 8 Operating surplus, net ND ND ND ND ND ND 70.8 98.5 94.1 37.2 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND 52.1 104.8 110.7 41.5 9

10 Operating surplus, net ND ND ND ND ND ND 70.8 98.5 94.1 37.2 10

11 Property income (received) ND ND ND ND ND ND 907.4 674.3 628.1 839.3 11

12 Interest ND ND ND ND ND ND 845.7 609.7 550.5 735.2 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND 56.5 58.6 67.3 88.3 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND 5.3 6.0 10.3 15.8 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND 926.2 668.0 611.5 835.0 15

16 Interest ND ND ND ND ND ND 798.0 544.9 485.9 627.8 16

17 Distributed income of corporations ND ND ND ND ND ND 131.2 122.9 124.3 202.6 17

18 Dividends ND ND ND ND ND ND 78.2 74.9 80.2 161.5 18

19 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND 53.0 48.0 44.1 41.1 19

20 Reinvested earnings on foreign direct investment ND ND ND ND ND ND -3.0 0.2 1.3 4.6 20

21 Rents on land and natural resources ND ND ND ND ND ND 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net ND ND ND ND ND ND 52.1 104.8 110.7 41.5 22

23 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND 21.2 20.6 23.8 26.8 23

24 Less: Other current transfers (paid) ND ND ND ND ND ND 6.4 12.2 13.1 2.2 24

25 Equals: Disposable income, net ND ND ND ND ND ND 24.5 72.0 73.8 12.4 25

26 Equals: Net saving ND ND ND ND ND ND 24.5 72.0 73.8 12.4 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND 24.5 72.0 73.8 12.4 27

28 Net saving ND ND ND ND ND ND 24.5 72.0 73.8 12.4 28

29 Less: Capital transfers paid (net) ND ND ND ND ND ND 0.0 0.0 0.0 0.0 29

30 Capital formation, net ND ND ND ND ND ND 29.4 29.0 19.7 30.1 30

31 Gross fixed capital formation (nonresidential) ND ND ND ND ND ND 99.3 103.5 99.4 115.8 31

32 Less: Consumption of fixed capital ND ND ND ND ND ND 70.0 74.5 79.7 85.7 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND -4.8 43.1 54.1 -17.7 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) ND ND ND ND ND ND -4.8 43.1 54.1 -17.7 34

35 Net acquisition of financial assets 985.6 1129.8 1288.1 1696.9 1816.2 1786.7 2228.1 1254.9 1776.7 1967.9 35

36 Currency and deposits 30.2 44.6 42.9 26.3 67.7 45.8 169.6 -7.5 -44.0 72.4 36

37 Debt securities 328.5 230.3 310.2 620.8 572.4 437.3 683.6 336.6 566.1 62.0 37

38 Open market paper 35.7 47.1 125.8 116.4 199.7 164.4 -167.5 -138.0 -58.0 81.3 38

39 Treasury securities 81.3 -41.1 19.7 42.6 -73.7 28.8 49.1 12.8 32.1 -89.8 39

40 Agency- and GSE-backed securities (2) 108.7 110.0 54.0 274.9 281.1 166.2 506.8 277.1 206.2 -232.6 40

41 Municipal securities 22.2 23.2 32.2 56.7 26.6 23.9 70.7 57.5 48.0 24.9 41

42 Corporate and foreign bonds 80.5 91.0 78.5 130.2 138.7 54.0 224.5 127.1 337.7 278.1 42

43 Loans 407.6 399.4 473.3 558.5 772.7 676.8 754.5 779.7 770.8 1215.8 43

44 Short term 283.1 207.7 289.6 194.7 398.5 352.8 265.6 191.4 106.1 543.6 44

45 Long term (mortgages) 124.4 191.7 183.7 363.8 374.2 324.0 488.9 588.3 664.8 672.2 45

46 Equity and investment fund shares 176.1 358.0 297.0 377.9 359.9 415.3 405.8 175.5 229.3 443.4 46

47 Corporate equities 95.0 189.5 162.6 131.6 141.8 245.2 156.8 85.6 164.6 247.9 47

48 Money market mutual fund shares 1.2 65.6 37.7 95.7 91.4 28.5 154.5 -18.5 -75.0 -121.1 48

49 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 U.S. direct investment abroad 2.6 7.2 9.7 3.8 12.7 4.8 16.8 6.2 13.3 24.8 50

51 Investment in subsidiaries 77.2 95.7 87.0 146.8 113.9 136.8 77.7 102.2 126.4 291.9 51

52 Insurance, pension and standardized guarantee schemes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

53 Other accounts receivable 43.3 97.6 164.7 113.3 43.5 211.5 214.6 -29.4 254.5 174.2 53

54 Net incurrence of liabilities 959.5 1123.1 1291.3 1724.5 1776.8 1772.9 2167.6 1223.8 1681.8 1952.3 54

55 Currency and deposits 3.3 -1.2 0.0 6.8 -7.8 0.0 8.6 1.9 -7.1 -2.1 55
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Historical Annuals, 1995-2004, March 10, 2016 163

S.65.a Other Financial Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

56 Debt securities 426.3 457.2 502.2 879.3 919.8 733.2 809.8 875.4 1018.4 830.8 56

57 Agency- and GSE-backed securities (2) 204.3 231.4 213.7 471.6 593.3 434.9 642.7 546.7 586.2 115.8 57

58 Corporate bonds 178.6 134.6 119.2 237.3 147.3 165.9 290.8 428.5 495.4 693.1 58

59 Commercial paper 43.4 91.3 169.4 170.3 179.2 132.4 -123.7 -99.8 -63.3 21.9 59

60 Loans 208.9 151.2 232.0 46.2 140.0 271.7 226.9 105.4 292.4 494.5 60

61 Short term 203.6 143.3 217.1 21.4 132.7 267.0 224.7 94.2 283.5 469.0 61

62 Long term (mortgages) 5.3 7.9 14.9 24.8 7.2 4.7 2.2 11.2 8.9 25.5 62

63 Equity and investment fund shares 312.2 426.7 443.1 661.9 617.6 618.1 704.1 243.0 207.7 373.7 63

64 Money market mutual fund shares 141.2 145.4 155.9 281.5 250.9 237.3 428.3 -23.6 -212.6 -136.4 64

65 Corporate equity issues -4.1 -10.8 -13.4 9.2 11.6 17.9 32.1 66.3 56.8 133.7 65

66 Mutual fund shares 147.4 237.6 265.1 279.5 191.2 237.6 204.7 180.9 288.1 296.3 66

67 Equity in government-sponsored enterprises (2) 2.0 1.5 1.8 4.1 6.1 2.2 3.3 2.0 3.2 2.5 67

68 Foreign direct investment in the United States -7.5 8.1 -14.5 24.5 63.2 29.1 12.8 -3.9 21.9 16.3 68

69 Equity in noncorporate business -0.5 0.3 1.1 -1.4 1.2 -0.2 -3.3 0.6 -3.4 -4.2 69

70 Investment by parent 33.7 44.7 47.1 64.5 93.4 94.1 26.1 20.7 53.8 65.4 70

71 Other accounts payable 8.8 89.2 114.0 130.3 107.2 150.0 418.3 -1.9 170.3 255.4 71

 Addendum:

72 Net lending (+) or borrowing (-), financial account (lines 35-53) 26.1 6.7 -3.2 -27.6 39.4 13.8 60.6 31.1 94.9 15.6 72

 Other changes in volume account

73 Total other volume changes ND ND ND ND ND ND 92.1 -11.7 -5.0 98.3 73

74 Disaster losses -0.0 0.0 0.0 0.0 -0.0 0.0 -3.3 0.0 0.0 -1.2 74

75 Other volume changes ND ND ND ND ND ND 30.1 0.3 -45.8 66.1 75

76 Less: Statistical discrepancy (lines 33-71) (3) ND ND ND ND ND ND -65.4 12.0 -40.8 -33.3 76

 Revaluation account

77 Nonfinancial assets 3.5 -3.8 3.1 4.5 12.3 13.4 5.2 6.8 7.0 41.7 77

78 Structures (nonresidential) 6.0 6.8 12.9 13.8 13.1 12.0 11.8 10.5 9.6 35.6 78

79 Equipment -2.6 -10.1 -9.4 -9.3 -1.7 0.3 -6.4 -3.3 -2.3 5.7 79

80 Intellectual property products 0.1 -0.5 -0.3 0.0 0.9 1.1 -0.2 -0.4 -0.3 0.3 80

81 Financial assets 239.7 273.2 396.4 387.8 745.2 -355.7 -529.0 -712.8 818.9 550.9 81

82 Corporate equities 245.1 265.7 407.1 365.2 753.1 -357.7 -529.9 -724.6 792.3 524.7 82

83 U.S. direct investment abroad -5.4 7.5 -10.6 22.5 -8.0 1.9 0.9 11.8 26.7 26.2 83

84 Liabilities 377.8 679.1 756.9 481.4 808.6 -228.8 -704.1 -952.4 1108.6 741.4 84

85 Corporate equity issues 146.9 426.5 375.0 135.7 75.0 113.3 -193.2 -257.0 373.9 267.9 85

86 Mutual fund shares 228.0 252.0 381.9 344.2 734.1 -343.0 -502.6 -678.1 726.8 483.8 86

87 Foreign direct investment in the United States 2.0 -0.3 -1.8 -0.1 -1.3 0.6 -6.1 -15.5 -3.4 -12.8 87

88 Equity in noncorporate business 0.8 0.8 1.9 1.5 0.7 0.3 -2.2 -1.9 11.4 2.4 88

89 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 89

90 Changes in net worth due to nominal holding gains/losses -134.5 -409.8 -357.3 -89.1 -51.2 -113.5 180.3 246.4 -282.7 -148.8 90

 Changes in balance sheet account

91 Change in net worth (lines 30+33+72+89) -68.2 -384.7 -324.0 -64.5 -0.6 -27.0 297.0 306.8 -213.9 -38.1 91

 Balance sheet account (end of period)

92 Total assets 9045.1 10456.4 12167.9 14263.8 16878.1 18386.7 20160.7 20733.0 23132.5 25704.3 92

93 Nonfinancial assets (4) 415.9 437.4 464.6 505.3 557.8 607.3 635.2 665.8 685.0 750.8 93

94 Structures (nonresidential) 250.9 264.6 285.5 306.8 326.7 346.2 362.6 373.9 382.7 422.0 94

95 Equipment 141.6 148.9 154.3 170.3 196.9 221.3 231.0 245.8 253.9 276.8 95

96 Intellectual property products 23.3 24.0 24.8 28.3 34.2 39.8 41.7 46.1 48.4 52.1 96

97 Financial assets 8629.2 10019.0 11703.3 13758.5 16320.4 17779.4 19525.4 20067.2 22447.5 24953.4 97

98 Currency and deposits 117.2 161.8 211.1 237.4 305.1 369.7 539.3 531.9 487.8 560.2 98

99 Debt securities 2233.8 2437.7 2742.3 3364.6 3936.7 4405.5 5142.3 5476.8 5877.9 5951.8 99

100 Open market paper 398.7 445.8 566.0 683.9 883.3 1047.7 933.4 793.4 732.9 826.1 100

101 Treasury securities 304.5 237.2 256.8 299.5 225.8 237.0 286.1 298.9 331.0 241.2 101

102 Agency- and GSE-backed securities (2) 648.2 758.2 812.2 1087.1 1368.2 1539.4 2046.2 2323.3 2367.0 2134.4 102

103 Municipal securities 416.6 439.9 472.0 528.7 555.3 580.8 651.5 709.1 757.0 781.9 103

104 Corporate and foreign bonds 465.7 556.7 635.2 765.4 904.1 1000.7 1225.2 1352.3 1690.0 1968.2 104

105 Loans 4010.0 4409.3 4882.7 5441.1 6211.5 6903.7 7658.2 8437.9 9206.5 10437.2 105

106 Short term 1827.9 2035.6 2325.2 2519.9 2918.4 3286.5 3552.2 3743.6 3835.7 4379.2 106

107 Long term (mortgages) 2182.1 2373.8 2557.5 2921.3 3293.1 3617.1 4106.0 4694.3 5370.8 6057.9 107
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S.65.a Other Financial Business

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

108 Equity and investment fund shares 1854.8 2485.9 3179.3 3945.0 5050.0 5109.6 4978.3 4441.1 5489.3 6483.6 108

109 Corporate equities 1102.1 1557.3 2126.9 2623.7 3518.7 3406.2 3033.1 2394.1 3350.9 4123.5 109

110 Money market fund shares 110.1 175.7 213.4 309.1 400.5 429.0 583.5 565.0 490.0 368.9 110

111 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 111

112 U.S. direct investment abroad 25.6 40.3 39.3 65.7 70.4 77.2 94.9 112.9 152.9 203.9 112

113 Investment in subsidiaries 617.0 712.6 799.6 946.5 1060.4 1197.2 1266.8 1369.0 1495.4 1787.3 113

114 Insurance, pension and standardized guarantee schemes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 114

115 Other accounts receivable 413.4 524.2 687.9 770.3 817.0 990.9 1207.3 1179.6 1385.9 1520.6 115

116 Total liabilities and net worth 9045.1 10456.4 12167.9 14263.8 16878.1 18386.7 20160.7 20733.0 23132.5 25704.3 116

117 Liabilities 8680.9 10476.9 12512.4 14672.8 17287.7 18823.2 20300.3 20565.9 23179.2 25789.1 117

118 Currency and deposits 19.3 18.0 18.0 24.9 17.1 17.1 25.7 27.6 20.5 18.4 118

119 Debt securities 3954.1 4411.4 4893.5 5772.8 6692.6 7426.8 8362.8 9238.2 10091.8 10937.5 119

120 Agency- and GSE-backed securities (2) 2377.7 2609.2 2822.8 3294.4 3887.7 4319.7 4962.3 5509.0 5944.5 6060.3 120

121 Corporate bonds 1112.2 1246.7 1345.9 1583.2 1730.5 1900.4 2307.4 2735.9 3217.3 3925.3 121

122 Commercial paper 464.2 555.5 724.8 895.2 1074.3 1206.7 1093.0 993.3 930.0 951.9 122

123 Loans 1080.0 1231.2 1463.2 1509.4 1647.1 1918.8 2145.7 2251.1 2543.5 3037.9 123

124 Short term 1055.9 1199.3 1416.4 1437.8 1568.3 1835.2 2059.9 2154.1 2437.6 2906.6 124

125 Long term (mortgages) 24.1 31.9 46.8 71.6 78.8 83.6 85.8 97.0 105.9 131.4 125

126 Equity and investment fund shares 3285.0 4390.7 5610.4 6753.6 8179.9 8504.8 8487.8 7778.4 9094.6 10209.7 126

127 Money market fund shares 741.3 886.7 1042.5 1324.0 1574.9 1812.2 2240.6 2217.0 2004.4 1868.0 127

128 Corporate equity issues 505.1 920.8 1282.4 1427.2 1513.9 1645.1 1484.0 1293.3 1723.9 2125.5 128

129 Mutual fund shares 1852.8 2342.4 2989.4 3613.1 4538.5 4433.1 4135.2 3638.0 4652.9 5433.0 129

130 Equity in government-sponsored enterprises (2) 18.3 19.7 21.5 25.5 31.6 33.8 37.1 39.1 42.3 44.8 130

131 Foreign direct investment in the United States -57.4 -49.6 -46.3 -21.8 40.1 69.8 76.6 57.2 75.7 79.2 131

132 Equity in noncorporate business 5.4 6.5 9.5 9.6 11.5 11.7 6.2 5.0 13.0 11.2 132

133 Investment by parent 219.6 264.3 311.4 375.9 469.4 499.1 508.2 528.9 582.6 648.0 133

134 Other accounts payable 342.5 425.5 527.3 612.1 751.2 955.8 1278.4 1270.6 1428.8 1585.7 134

135 Net worth 364.2 -20.5 -344.5 -409.0 -409.6 -436.6 -139.6 167.2 -46.7 -84.8 135

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.
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Historical Annuals, 1995-2004, March 10, 2016 165

S.7.a Federal Government

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 385.5 385.5 390.4 395.5 405.6 423.1 431.0 462.6 498.1 525.8 1

 2 Less: Consumption of fixed capital 151.9 152.4 153.0 153.6 156.8 161.5 163.3 165.0 170.3 178.6 2

 3 Equals: Net value added 233.6 233.1 237.3 242.0 248.8 261.6 267.7 297.6 327.8 347.2 3

 4 Compensation of employees (paid) 228.6 228.6 230.8 234.4 241.6 256.3 264.9 290.7 321.1 342.3 4

 5 Wages and salaries 173.7 174.6 176.3 178.9 183.5 195.0 199.6 217.4 234.8 249.9 5

 6 Employers’ social contributions 54.9 54.0 54.5 55.5 58.1 61.3 65.3 73.3 86.3 92.4 6

 7 Operating surplus, net 5.0 4.5 6.6 7.6 7.2 5.3 2.8 6.9 6.7 4.9 7

 8 Net national income/Balance of primary incomes, net -282.4 -290.9 -289.1 -291.7 -285.3 -280.9 -267.8 -227.7 -221.2 -226.6 8

 9 Operating surplus, net 5.0 4.5 6.6 7.6 7.2 5.3 2.8 6.9 6.7 4.9 9

10 Taxes on production and imports, receivable 75.6 72.9 77.8 80.7 83.4 87.3 85.3 86.8 90.2 95.2 10

11 Subsidies (paid) -34.5 -34.9 -33.4 -35.9 -44.8 -45.3 -51.1 -40.5 -49.0 -46.0 11

12 Property income (received) 23.8 26.6 25.5 21.5 21.1 25.6 26.4 21.8 23.5 25.3 12

13 Interest 20.8 22.5 21.0 17.3 17.1 19.3 18.0 15.3 16.5 16.6 13

14 Distributed income of corporations (dividends) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 14

15 Rents on land and natural resources 3.0 4.1 4.5 4.2 4.0 6.3 8.4 6.5 7.0 8.7 15

16 Less: Uses of property income (interest paid) 352.3 360.0 365.6 365.6 352.2 353.7 331.2 302.7 292.6 306.1 16

17 Net national income/Balance of primary incomes, net -282.4 -290.9 -289.1 -291.7 -285.3 -280.9 -267.8 -227.7 -221.2 -226.6 17

18 Plus: Current taxes on income, wealth, etc. (received) 773.5 864.2 957.9 1041.1 1116.5 1226.6 1168.6 990.9 985.3 1063.4 18

19 Plus: Social benefits (received) 521.9 545.4 579.4 617.4 654.8 698.6 723.3 739.4 763.2 808.9 19

20 Less: Social contributions (paid) 653.9 689.6 715.7 730.3 748.4 782.1 850.2 927.1 977.6 1030.2 20

21 Plus: Other current transfers (received) 17.5 22.7 20.1 21.5 22.4 24.8 25.5 24.9 26.2 29.6 21

22 Less: Other current transfers (paid) 189.9 201.8 205.1 218.8 237.9 255.5 279.5 310.5 350.3 363.0 22

23 Equals: Disposable income, net 186.8 249.9 347.5 439.2 522.2 631.6 519.8 289.8 225.6 282.2 23

24 Less: Final consumption expenditures 427.7 428.4 438.7 436.4 455.6 475.1 505.4 560.3 628.5 681.4 24

25 Equals: Net saving -240.8 -178.5 -91.2 2.7 66.6 156.5 14.5 -270.5 -402.9 -399.2 25

 Capital account

26 Net saving less capital transfers -253.8 -189.4 -99.8 -1.0 58.8 147.6 -0.1 -294.9 -444.0 -438.6 26

27 Net saving -240.8 -178.5 -91.2 2.7 66.6 156.5 14.5 -270.5 -402.9 -399.2 27

28 Less: Capital transfers paid (net) 13.0 10.9 8.7 3.8 7.8 8.9 14.6 24.4 41.1 39.3 28

29 Capital formation, net -12.1 -7.4 -18.1 -11.9 -3.2 -4.7 -0.9 15.0 25.1 31.6 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 147.7 149.8 143.7 147.7 154.9 157.4 163.8 180.3 196.4 211.0 30

31 Less: Consumption of fixed capital 151.9 152.4 153.0 153.6 156.8 161.5 163.3 165.0 170.3 178.6 31

32 Acquisition of nonproduced nonfinancial assets -7.9 -4.8 -8.8 -6.0 -1.2 -0.6 -1.5 -0.3 -0.9 -0.8 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -241.6 -182.0 -81.7 10.9 62.0 152.3 0.8 -309.9 -469.1 -470.1 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -241.6 -182.0 -81.7 10.9 62.0 152.3 0.8 -309.9 -469.1 -470.1 34

35 Net acquisition of financial assets -29.5 7.4 -2.7 -4.4 75.0 -68.8 53.3 8.4 35.1 5.3 35

36 Monetary gold and SDRs 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 36

37 Monetary gold 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 -0.0 37

38 SDR holdings 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 38

39 Currency and deposits 6.1 9.8 2.5 -9.6 60.4 -65.5 49.1 2.9 -17.1 -34.5 39

40 Official foreign currencies 3.2 -3.8 -1.5 0.8 -1.6 0.9 0.3 0.3 0.3 0.3 40

41 Reserve position in IMF (net) 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 41

42 Currency and transferable deposits -0.0 11.0 -0.5 -16.7 66.2 -65.1 41.1 -17.1 9.3 -31.0 42

43 Time and savings deposits 0.3 1.4 1.0 1.3 0.7 1.0 4.2 17.1 -25.2 -0.0 43

44 Nonofficial foreign currencies 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.0 0.0 44

45 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 Loans -24.7 3.9 11.3 5.6 4.3 8.1 3.9 8.0 -2.4 2.3 48

49 Short term -11.1 11.1 15.9 6.4 4.4 8.9 5.0 7.5 0.1 0.7 49

50 Consumer credit 2.3 8.5 10.0 8.9 11.5 11.7 12.8 8.0 1.9 3.7 50

51 Other loans and advances -13.5 2.6 5.9 -2.4 -7.0 -2.8 -7.8 -0.5 -1.8 -3.0 51

52 Long term (mortgages) -13.5 -7.2 -4.5 -0.8 -0.1 -0.9 -1.1 0.5 -2.5 1.6 52

53 Equity and investment fund shares 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 53

54 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

55 Equity in international organizations 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 55

56 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57
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166 Historical Annuals, 1995-2004, March 10, 2016

S.7.a Federal Government

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

58 Other accounts receivable -13.3 -7.8 -18.6 -2.1 8.9 -13.6 -2.1 -4.5 53.8 35.1 58

59 Trade receivables -1.6 0.9 -3.2 1.5 4.6 5.3 7.3 -3.3 19.1 10.5 59

60 Taxes receivable -7.9 -0.3 -10.3 -9.3 1.2 -22.0 -9.8 -2.8 34.4 23.3 60

61 Other (miscellaneous assets) -3.8 -8.4 -5.0 5.7 3.0 3.1 0.4 1.5 0.4 1.4 61

62 Net incurrence of liabilities 224.4 201.4 84.3 3.9 -3.3 -215.9 65.8 335.0 566.0 479.4 62

63 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 63

64 Currency and deposits 0.7 0.5 0.5 0.6 1.0 2.4 1.3 1.0 0.6 0.7 64

65 Debt securities 165.3 200.0 63.4 -11.4 -30.1 -275.0 55.2 282.1 420.7 402.8 65

66 Treasury securities 163.8 201.6 63.5 -13.4 -29.9 -274.0 55.8 281.6 423.1 403.5 66

67 Federal agency securities 1.5 -1.6 -0.1 2.0 -0.2 -1.0 -0.5 0.5 -2.4 -0.6 67

68 Loans (mortgages) 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 68

69 Insurance, pension and standardized guarantee schemes 56.3 3.5 29.0 29.4 31.5 53.0 13.9 51.3 75.6 59.5 69

70 Insurance reserves 1.0 0.6 1.7 1.3 1.4 1.4 1.4 1.6 1.1 1.1 70

71 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19.6 17.4 71

72 Claims of pension fund on sponsor 55.3 2.9 27.2 28.1 30.1 51.6 12.5 49.8 54.9 41.0 72

73 Other accounts payable 2.2 -2.6 -8.5 -14.7 -5.7 3.6 -4.6 0.6 69.1 16.4 73

74 SDR certificates 2.2 -0.5 -0.5 0.0 -3.0 -4.0 0.0 0.0 0.0 0.0 74

75 Trade payables -4.5 1.1 -8.3 -7.6 0.2 5.7 3.2 1.0 71.7 15.4 75

76 Other (miscellaneous liabilities) 4.5 -3.3 0.3 -7.1 -2.9 2.0 -7.8 -0.4 -2.6 1.0 76

 Addendum:

77 Net lending (+) or borrowing (-), financial account (lines 35-62) -253.9 -194.0 -87.0 -8.3 78.4 147.1 -12.5 -326.6 -530.9 -474.1 77

 Other changes in volume account

78 Total other volume changes 6.9 62.4 12.7 -17.8 35.3 20.7 -10.8 -22.8 -95.0 -28.2 78

79 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 79

80 Other volume changes 19.1 74.4 18.0 1.4 18.9 25.9 2.5 -6.0 -33.3 -24.2 80

81 Less: Statistical discrepancy (lines 33-77) (2) 12.3 12.0 5.3 19.2 -16.4 5.2 13.3 16.7 61.8 4.0 81

 Revaluation account

82 Nonfinancial assets 46.9 32.0 36.4 39.5 62.8 48.8 23.5 33.5 45.2 114.8 82

83 Structures 28.1 26.5 28.3 23.9 34.4 37.2 27.7 25.1 25.3 91.6 83

84 Equipment 5.4 -0.8 -1.8 6.1 13.2 -1.5 -4.8 3.9 4.0 10.9 84

85 Intellectual property products 13.4 6.3 9.9 9.4 15.2 13.1 0.5 4.6 16.0 12.2 85

86 Financial assets 0.3 -0.8 -1.6 1.4 -0.9 -1.3 -1.0 2.4 3.1 1.3 86

87 Monetary gold and SDRs 0.2 -0.4 -0.6 0.4 -0.3 -0.5 -0.4 0.9 1.1 0.5 87

88 Currency and deposits 0.2 -0.5 -0.9 0.9 -0.7 -0.8 -0.6 1.5 2.1 0.8 88

89 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 89

90 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 90

91 Liabilities 0.1 -0.2 -0.4 0.3 -0.2 -0.3 -0.2 0.5 0.6 0.3 91

92 SDR allocations 0.1 -0.2 -0.4 0.3 -0.2 -0.3 -0.2 0.5 0.6 0.3 92

93 Changes in net worth due to nominal holding gains/losses 47.2 31.4 35.2 40.5 62.0 47.8 22.7 35.5 47.7 115.7 93

 Changes in balance sheet account

94 Change in net worth (lines 29+33+78+93) -199.7 -95.6 -51.9 21.6 156.2 216.1 11.8 -282.2 -491.3 -351.1 94

 Balance sheet account (end of period)

95 Total assets 2225.8 2335.0 2366.0 2399.1 2560.0 2557.6 2643.9 2712.3 2790.1 2917.7 95

96 Nonfinancial assets (3) 1794.1 1823.5 1850.2 1883.3 1943.8 1987.7 2011.3 2059.5 2130.4 2277.1 96

97 Structures 774.3 804.1 833.3 858.3 892.8 927.0 950.9 974.5 999.1 1088.2 97

98 Equipment 486.6 480.4 468.2 465.3 473.5 465.8 456.5 463.7 474.9 498.3 98

99 Intellectual property products 533.2 539.0 548.7 559.7 577.5 594.9 603.9 621.4 656.3 690.6 99

100 Financial assets 431.7 511.5 515.9 515.8 616.2 569.9 632.6 652.8 659.7 640.6 100

101 Monetary gold and SDRs 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 101

102 Monetary gold 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 102

103 SDR holdings 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 103
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S.7.a Federal Government

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

104 Currency and deposits 68.1 77.4 79.0 70.3 130.0 63.7 112.3 116.7 101.7 67.9 104

105 Official foreign currencies 28.0 19.0 13.8 16.2 16.0 15.6 14.4 16.7 19.7 21.1 105

106 Reserve position in IMF (net) 14.7 15.5 18.2 24.2 18.1 14.9 18.0 22.1 22.7 19.6 106

107 Currency and transferable deposits 22.2 38.3 41.6 23.2 87.9 24.3 66.9 47.7 54.3 22.2 107

108 Time and savings deposits 0.9 2.4 3.4 4.7 5.4 6.3 10.5 27.6 2.4 2.4 108

109 Nonofficial foreign currencies 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.6 2.6 109

110 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 110

111 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 111

112 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112

113 Loans 197.0 201.1 212.5 218.3 255.7 262.6 266.4 274.5 272.0 274.3 113

114 Short term 139.5 150.8 166.8 173.4 178.0 186.9 191.9 199.4 199.4 200.1 114

115 Consumer credit 9.2 17.7 27.6 36.5 48.0 59.7 72.5 80.5 82.4 86.1 115

116 Other loans and advances 130.4 133.1 139.2 136.9 130.0 127.3 119.4 118.9 117.1 114.0 116

117 Long term (mortgages) 57.5 50.3 45.7 44.9 77.7 75.7 74.5 75.1 72.6 74.2 117

118 Equity and investment fund shares 28.0 29.8 31.4 33.0 34.4 35.9 37.6 39.1 40.5 42.5 118

119 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 119

120 Equity in international organizations 28.0 29.8 31.4 33.0 34.4 35.9 37.6 39.1 40.5 42.5 120

121 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 121

122 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 Other accounts receivable 127.5 193.0 183.0 183.7 185.7 197.1 205.5 210.4 232.8 242.3 123

124 Trade receivables 23.1 24.0 20.8 22.3 22.9 28.1 35.5 32.2 51.3 61.8 124

125 Taxes receivable 17.3 90.2 88.4 82.0 80.3 83.3 84.0 90.7 93.7 91.2 125

126 Other (miscellaneous assets) 87.2 78.8 73.8 79.5 82.6 85.7 86.0 87.6 87.9 89.3 126

127 Total liabilities and net worth 2225.8 2335.0 2366.0 2399.1 2560.0 2557.6 2643.9 2712.3 2790.1 2917.7 127

128 Liabilities 5362.8 5567.7 5650.6 5662.1 5666.8 5448.2 5522.7 5873.3 6442.4 6921.1 128

129 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 129

130 Currency and deposits 18.3 18.9 19.3 19.9 20.9 23.2 24.5 25.5 26.0 26.7 130

131 Debt securities 4143.1 4343.1 4406.5 4395.1 4365.0 4090.0 4145.2 4427.3 4848.0 5250.9 131

132 Treasury securities 4114.9 4316.5 4380.0 4366.6 4336.7 4062.7 4118.5 4400.1 4823.2 5226.6 132

133 Federal agency securities 28.2 26.6 26.5 28.5 28.3 27.3 26.8 27.3 24.9 24.3 133

134 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 134

135 Insurance, pension and standardized guarantee schemes 1096.4 1099.7 1128.6 1158.1 1189.4 1242.4 1257.5 1323.7 1399.4 1459.1 135

136 Insurance reserves 29.9 30.5 32.3 33.6 35.0 36.4 37.8 39.4 40.5 41.6 136

137 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15.4 35.0 52.4 137

138 Claims of pension fund on sponsor 1066.5 1069.2 1096.3 1124.6 1154.4 1206.0 1219.7 1269.0 1324.0 1365.2 138

139 Other accounts payable 97.8 99.0 89.6 82.1 84.8 86.3 89.3 90.1 161.6 176.8 139

140 SDR certificates 10.2 9.7 9.2 9.2 6.2 2.2 2.2 2.2 2.2 2.2 140

141 Trade payables 80.9 82.0 73.8 66.2 72.0 77.7 80.9 81.9 153.6 169.0 141

142 Other (miscellaneous liabilities) 6.7 7.3 6.6 6.7 6.6 6.4 6.2 6.0 5.8 5.6 142

143 Net worth -3137.0 -3232.7 -3284.6 -3262.9 -3106.8 -2890.6 -2878.8 -3161.0 -3652.3 -4003.4 143

Note. The Federal government accounts exclude Federal employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.

IMF International Monetary Fund

SDRs Special Drawing Rights
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S.8.a State and Local Governments

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Gross value added 710.4 739.9 772.6 811.5 863.9 917.2 979.9 1030.1 1077.2 1137.7 1

 2 Less: Consumption of fixed capital 88.3 92.6 96.9 101.8 108.1 116.2 123.0 129.0 134.5 143.8 2

 3 Equals: Net value added 622.1 647.3 675.7 709.8 755.7 801.0 856.9 901.1 942.6 993.9 3

 4 Compensation of employees (paid) 611.6 634.9 664.8 701.1 746.8 795.6 854.5 900.9 945.4 1000.6 4

 5 Wages and salaries 455.3 473.4 495.6 522.4 550.3 584.8 622.4 655.8 678.5 702.7 5

 6 Employers’ social contributions 156.2 161.4 169.2 178.6 196.5 210.8 232.1 245.1 266.9 297.9 6

 7 Operating surplus, net 10.6 12.4 10.9 8.7 9.0 5.4 2.4 0.1 -2.8 -6.7 7

 8 Net national income/Balance of primary incomes, net 485.1 521.3 552.1 586.9 626.2 668.0 660.8 669.2 673.5 728.0 8

 9 Operating surplus, net 10.6 12.4 10.9 8.7 9.0 5.4 2.4 0.1 -2.8 -6.7 9

10 Taxes on production and imports, receivable 482.4 507.9 533.8 558.8 590.2 621.3 642.4 675.8 717.8 768.7 10

11 Subsidies (paid) -0.3 -0.3 -0.4 -0.4 -0.4 -0.5 -7.7 -0.9 -0.1 -0.4 11

12 Property income (received) 69.1 73.7 78.1 81.3 85.2 93.9 89.2 78.6 73.8 76.8 12

13 Interest 63.6 67.7 71.8 75.0 78.6 86.3 81.3 70.5 64.5 66.4 13

14 Distributed income of corporations (dividends) 1.0 1.4 1.5 1.6 1.5 1.4 1.4 1.6 1.7 2.0 14

15 Rents on land and natural resources 4.5 4.6 4.8 4.6 5.1 6.3 6.5 6.6 7.6 8.5 15

16 Less: Uses of property income (interest paid) 76.6 72.4 70.2 61.4 57.8 52.1 65.4 84.4 115.2 110.5 16

17 Net national income/Balance of primary incomes, net 485.1 521.3 552.1 586.9 626.2 668.0 660.8 669.2 673.5 728.0 17

18 Plus: Current taxes on income, wealth, etc. (received) 189.8 201.7 216.1 236.2 250.3 271.9 271.9 252.7 260.8 289.2 18

19 Plus: Social benefits (received) 13.6 12.5 10.8 10.4 9.8 10.8 13.7 15.8 19.9 24.7 19

20 Less: Social contributions (paid) 217.6 224.3 227.6 235.8 252.3 271.4 305.1 333.0 353.6 385.0 20

21 Plus: Other current transfers (received) 214.4 224.4 236.1 253.5 277.4 299.7 333.1 365.4 405.0 422.4 21

22 Less: Other current transfers (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Equals: Disposable income, net 685.3 735.6 787.6 851.1 911.2 979.0 974.5 970.1 1005.7 1079.2 23

24 Less: Final consumption expenditures 716.8 748.1 785.9 835.7 902.0 969.1 1039.7 1091.0 1127.1 1187.6 24

25 Equals: Net saving -31.5 -12.5 1.7 15.4 9.2 9.9 -65.3 -120.9 -121.4 -108.4 25

 Capital account

26 Net saving less capital transfers 0.8 21.4 36.9 51.3 49.3 54.1 -13.6 -68.0 -69.5 -60.4 26

27 Net saving -31.5 -12.5 1.7 15.4 9.2 9.9 -65.3 -120.9 -121.4 -108.4 27

28 Less: Capital transfers paid (net) -32.4 -33.8 -35.2 -35.9 -40.0 -44.2 -51.7 -52.9 -52.0 -48.0 28

29 Capital formation, net 78.3 83.6 94.8 99.6 114.1 125.3 136.9 145.5 145.8 145.0 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 160.0 170.2 185.8 193.7 213.6 232.9 249.8 263.3 268.9 277.5 30

31 Less: Consumption of fixed capital 88.3 92.6 96.9 101.8 108.1 116.2 123.0 129.0 134.5 143.8 31

32 Acquisition of nonproduced nonfinancial assets 6.6 6.0 5.8 7.6 8.6 8.6 10.1 11.2 11.4 11.3 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -77.5 -62.2 -57.9 -48.3 -64.8 -71.2 -150.5 -213.5 -215.2 -205.4 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -77.5 -62.2 -57.9 -48.3 -64.8 -71.2 -150.5 -213.5 -215.2 -205.4 34

35 Net acquisition of financial assets -9.5 28.0 98.7 145.2 97.9 75.2 100.7 75.5 45.1 173.7 35

36 Currency and deposits 10.0 4.9 10.1 10.8 18.0 10.8 16.0 13.9 26.8 4.5 36

37 Currency and transferable deposits 3.4 -5.6 4.4 -3.9 4.0 0.1 4.0 5.1 7.0 -3.4 37

38 Time and savings deposits 6.6 10.5 5.8 14.7 14.1 10.7 12.0 8.8 19.8 7.9 38

39 Debt securities -94.7 -37.5 -3.6 103.6 97.5 72.0 94.7 91.5 22.4 97.1 39

40 Open market paper 17.1 20.3 14.3 12.8 17.5 15.2 17.5 14.3 -0.7 3.0 40

41 Treasury securities -80.2 -32.8 -17.7 41.4 23.8 5.5 18.4 26.2 7.0 43.5 41

42 Agency- and GSE-backed securities (1) -35.1 -35.3 -0.8 38.7 44.2 41.4 47.3 41.7 11.9 37.4 42

43 Municipal securities -3.5 -0.5 -0.7 -0.7 0.3 0.2 0.2 0.1 0.4 1.2 43

44 Corporate and foreign bonds 7.1 10.7 1.3 11.4 11.6 9.8 11.3 9.1 3.8 12.0 44

45 Loans 0.3 35.9 7.2 10.2 2.0 -11.6 -11.7 -21.7 6.5 22.4 45

46 Short term -3.0 32.1 3.6 4.2 -2.5 -10.3 -10.9 -16.3 1.6 7.3 46

47 Long term (mortgages) 3.3 3.8 3.7 6.1 4.4 -1.3 -0.8 -5.3 4.9 15.1 47

48 Equity and investment fund shares 13.3 15.2 2.2 9.0 -25.3 10.0 7.7 14.0 -4.9 21.8 48

49 Money market fund shares 4.8 1.4 3.6 31.1 4.5 2.7 3.2 1.6 4.8 12.9 49

50 Corporate equities 12.1 14.5 16.8 -8.8 -21.7 6.1 4.1 10.3 -8.0 5.4 50

51 Mutual fund shares -3.6 -0.6 -18.2 -13.2 -8.1 1.2 0.4 2.1 -1.7 3.5 51

52 Other accounts receivable 61.5 9.5 82.7 11.5 5.7 -6.1 -6.1 -22.1 -5.8 27.9 52

53 Trade receivables 6.1 5.6 6.3 7.0 8.7 4.9 6.0 2.6 -1.9 8.5 53

54 Taxes receivable 0.9 2.3 4.2 5.0 9.9 10.6 3.0 1.5 0.8 12.9 54

55 Other (miscellaneous assets) 54.5 1.6 72.1 -0.5 -12.9 -21.6 -15.1 -26.2 -4.7 6.6 55
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S.8.a State and Local Governments

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

56 Net incurrence of liabilities -4.3 58.2 106.7 148.3 142.1 76.9 188.2 270.1 268.2 336.1 56

57 Debt securities (municipals) -60.9 -15.7 45.6 66.7 38.9 16.5 105.4 143.9 120.5 178.5 57

58 Short term 1.2 6.3 8.3 -6.3 2.6 1.4 23.8 25.2 10.4 22.2 58

59 Other -62.1 -22.0 37.3 72.9 36.3 15.1 81.5 118.7 110.1 156.3 59

60 Loans (short term) 0.1 -4.8 5.1 0.1 -1.6 0.4 0.1 0.6 0.1 0.3 60

61 Insurance, pension and standardized guarantee schemes 39.3 60.6 36.3 60.7 82.0 35.0 55.8 97.3 118.9 127.3 61

 (Claim of pension funds on sponsor)

62 Other accounts payable (trade payables) 17.2 18.2 19.6 20.8 22.8 25.0 27.0 28.3 28.8 30.0 62

 Addendum:

63 Net lending (+) or borrowing (-), financial account (lines 35-56) -5.2 -30.2 -8.0 -3.1 -44.2 -1.7 -87.5 -194.6 -223.1 -162.4 63

 Other changes in volume account

64 Total other volume changes 224.5 169.3 270.9 207.6 255.8 -85.9 -165.5 -350.4 337.5 -707.2 64

65 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 -1.7 0.0 0.0 0.0 65

66 Other volume changes 152.3 137.4 220.9 162.4 235.2 -155.4 -226.7 -369.4 345.3 -750.2 66

67 Less: Statistical discrepancy (lines 33-63) (2) -72.2 -32.0 -49.9 -45.2 -20.6 -69.5 -63.0 -18.9 7.8 -43.1 67

 Revaluation account

68 Nonfinancial assets 108.6 76.4 92.7 98.0 148.3 172.8 118.3 110.4 91.5 504.5 68

69 Structures 106.1 77.2 95.3 99.7 148.2 172.4 120.7 111.5 91.5 501.0 69

70 Equipment 1.6 -0.8 -2.8 -2.1 -1.0 -0.9 -2.6 -1.2 -0.6 2.6 70

71 Intellectual property products 0.9 -0.0 0.2 0.4 1.1 1.4 0.2 0.1 0.6 0.9 71

72 Equity and investment fund shares 13.2 12.7 25.5 42.7 28.7 -15.0 -12.4 -25.0 29.0 11.8 72

73 Changes in net worth due to nominal holding gains/losses 121.8 89.1 118.3 140.7 177.0 157.9 105.9 85.5 120.5 516.3 73

 Changes in balance sheet account

74 Change in net worth (lines 29+33+64+73) 347.2 279.8 426.0 399.5 482.0 126.1 -73.1 -333.0 388.5 -251.3 74

 Balance sheet account (end of period)

75 Total assets 4362.1 4556.8 4862.6 5240.4 5620.8 5970.7 6302.5 6598.1 6898.1 7721.9 75

76 Nonfinancial assets (3) 3240.8 3394.8 3576.6 3766.5 4020.3 4309.9 4553.5 4798.5 5024.4 5662.8 76

77 Structures 3053.5 3200.3 3375.1 3555.1 3795.7 4072.0 4306.6 4543.0 4760.4 5388.1 77

78 Equipment 143.4 149.3 154.0 161.1 170.6 179.7 185.5 191.5 196.6 203.3 78

79 Intellectual property products 43.9 45.1 47.5 50.4 54.0 58.2 61.3 64.0 67.5 71.4 79

80 Financial assets 1121.3 1162.0 1286.0 1473.9 1600.5 1660.8 1749.1 1799.6 1873.7 2059.2 80

81 Currency and deposits 100.4 105.4 115.3 126.2 144.2 155.0 171.0 184.9 211.7 216.2 81

82 Currency and transferable deposits 38.7 33.1 37.5 33.6 37.5 37.7 41.7 46.7 53.7 50.3 82

83 Time and savings deposits 61.7 72.2 77.9 92.6 106.7 117.4 129.3 138.1 158.0 165.9 83

84 Debt securities 524.8 487.2 483.7 587.3 684.7 756.7 851.5 943.0 965.4 1062.5 84

85 Open market paper 39.4 59.7 74.0 86.8 104.3 119.5 136.9 151.3 150.6 153.6 85

86 Treasury securities 289.8 257.0 239.3 280.8 304.5 310.0 328.4 354.7 361.7 405.2 86

87 Agency- and GSE-backed securities (1) 151.5 116.2 115.4 154.1 198.3 239.7 287.0 328.8 340.6 378.0 87

88 Municipal securities 5.1 4.6 3.9 3.2 3.5 3.7 4.0 4.1 4.5 5.7 88

89 Corporate and foreign bonds 39.0 49.7 51.0 62.4 74.0 83.8 95.1 104.2 108.0 120.1 89

90 Loans 229.5 265.4 272.7 282.9 284.9 273.3 261.6 239.9 246.4 268.8 90

91 Short term 115.7 147.8 151.4 155.6 153.1 142.8 131.9 115.6 117.2 124.4 91

92 Long term (mortgages) 113.8 117.6 121.3 127.4 131.8 130.5 129.7 124.4 129.3 144.4 92

93 Equity and investment fund shares 72.1 100.0 127.7 179.4 182.8 177.9 173.2 162.2 186.3 219.9 93

94 Money market fund shares 10.7 12.0 15.6 46.7 51.2 53.9 57.1 58.7 63.5 76.4 94

95 Corporate equities 26.4 46.9 78.4 98.5 98.3 93.2 88.0 79.3 93.4 107.7 95

96 Mutual fund shares 35.0 41.0 33.6 34.1 33.4 30.8 28.1 24.3 29.4 35.8 96

97 Other accounts receivable 194.5 204.0 286.7 298.2 303.9 297.8 291.8 269.6 263.8 291.7 97

98 Trade receivables 77.3 82.9 89.2 96.3 104.9 109.9 115.9 118.4 116.6 125.0 98

99 Taxes receivable 37.7 40.1 44.3 49.3 59.2 69.8 72.8 74.4 75.1 88.0 99

100 Other (miscellaneous assets) 79.4 81.0 153.1 152.6 139.8 118.2 103.1 76.9 72.1 78.7 100

101 Total liabilities and net worth 4362.1 4556.8 4862.6 5240.4 5620.8 5970.7 6302.5 6598.1 6898.1 7721.9 101

102 Liabilities 1304.8 1219.6 1099.5 1077.8 976.1 1199.9 1604.8 2233.4 2144.9 3220.0 102
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S.8.a State and Local Governments

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

103 Debt securities (municipals) 1037.0 1021.3 1067.0 1133.6 1172.5 1189.0 1294.4 1438.3 1558.8 2438.2 103

104 Short term 34.4 40.7 49.0 42.7 45.3 46.6 70.5 95.7 106.1 44.2 104

105 Other 1002.6 980.7 1018.0 1090.9 1127.2 1142.4 1223.9 1342.6 1452.7 2393.9 105

106 Loans (short term) 9.7 4.8 10.0 10.1 8.5 8.9 9.0 9.6 9.7 10.0 106

107 Insurance, pension and standardized guarantee schemes 28.5 -54.3 -244.9 -354.2 -515.9 -334.0 -61.5 394.2 156.3 321.7 107

 (Claim of pension funds on sponsor)

108 Other accounts payable (trade payables) 229.6 247.8 267.4 288.2 311.0 336.0 363.0 391.3 420.1 450.1 108

109 Net worth 3057.3 3337.1 3763.1 4162.7 4644.7 4770.8 4697.7 4364.7 4753.2 4502.0 109

Note. The state and local government accounts exclude state and local employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.
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S.9.a Rest of the World 

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

 Current account

 1 Foreign income from U.S. 1147.7 1228.1 1363.2 1444.3 1636.6 1924.1 1785.6 1825.4 1977.9 2324.2 1

 2 U.S. imports of goods and services 902.6 964.0 1055.8 1115.7 1248.6 1472.6 1395.4 1429.0 1543.9 1800.7 2

 3 U.S. income payments to rest of world 201.1 214.6 256.0 268.5 294.3 345.7 273.5 267.2 289.0 362.3 3

 4 Current taxes and trans. payments to rest of world 44.1 49.5 51.4 60.0 93.7 105.8 116.7 129.2 144.9 161.3 4

 5 Less: Foreign outlays to U.S. 1042.6 1114.0 1233.9 1239.8 1350.0 1520.4 1396.8 1374.6 1462.2 1697.2 5

 6 U.S. exports of goods and services 812.8 867.6 953.8 953.0 992.0 1096.8 1026.7 1002.5 1040.3 1181.5 6

 7 U.S. income receipts from rest of world 229.8 246.4 280.1 286.8 321.4 382.7 325.3 315.8 356.1 451.4 7

 8 Current taxes and trans. receipts from rest of world (1) 0.0 0.0 0.0 0.0 36.6 40.8 44.8 56.3 65.8 64.3 8

 9 Equals: Net saving (current external balance) 105.1 114.1 129.3 204.5 286.6 403.7 388.8 450.8 515.7 627.0 9

 Capital account

10 Net saving 105.1 114.1 129.3 204.5 286.6 403.7 388.8 450.8 515.7 627.0 10

11 Less: Net capital transfers -0.6 -0.2 -0.4 -0.2 -4.5 -0.4 12.9 -0.6 -2.2 2.8 11

12 Less: Acquisition of nonproduced nonfinancial assets 0.2 -0.0 -0.1 0.0 0.0 0.0 0.0 0.1 0.1 0.0 12

13 Net lending (+) or borrowing (-), capital account (lines 10-11-12) 105.5 114.3 129.8 204.7 291.1 404.1 375.8 451.3 517.8 624.2 13

 Financial account

14 Net lending (+) or borrowing (-) (line 13) 105.5 114.3 129.8 204.7 291.1 404.1 375.8 451.3 517.8 624.2 14

15 Net acquisition of U.S. financial assets 342.7 471.1 504.1 383.3 579.8 745.1 606.6 680.5 780.3 1227.1 15

16 Monetary gold and SDRs 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Monetary gold 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

19 Currency and deposits -0.2 -14.7 51.0 19.1 34.2 -33.8 -34.0 44.4 31.9 16.6 19

20 Currency 8.8 14.2 22.4 13.8 24.4 -3.4 23.8 18.9 10.6 13.3 20

21 Transferable deposits 1.1 2.6 5.1 -3.4 -0.1 2.2 -5.0 -0.6 4.0 9.1 21

22 Time deposits -2.7 -0.2 13.1 3.1 3.2 8.9 -25.5 16.0 6.0 22.8 22

23 Net interbank items due from U.S. banks -7.4 -31.3 10.4 5.5 6.7 -41.6 -27.3 10.1 11.3 -28.6 23

24 Debt securities 246.8 375.7 242.3 169.5 163.1 244.5 323.8 432.8 519.6 804.0 24

25 Open market paper 18.6 14.4 19.9 33.6 -6.4 9.3 -5.9 18.1 2.1 16.5 25

26 Treasury securities 160.5 262.7 123.7 18.7 -32.3 -75.2 19.3 160.9 276.4 366.9 26

27 Agency- and GSE-backed securities (2) 17.6 26.8 30.3 11.1 63.4 141.9 92.0 127.1 12.3 154.6 27

28 Municipal securities 1.0 1.0 1.0 1.0 1.0 0.2 0.0 3.5 8.0 6.5 28

29 Corporate bonds 49.2 70.8 67.4 105.2 137.4 168.3 218.3 123.2 220.8 259.5 29

30 Loans (short term) 21.0 7.1 37.2 -19.8 -14.8 9.2 23.1 49.2 132.2 196.7 30

31 Security repurchases 21.0 3.2 20.0 -18.8 8.0 11.4 24.7 39.1 133.0 190.5 31

32 Loans to U.S. corporate business 0.0 3.9 17.3 -1.0 -22.7 -2.2 -1.6 10.1 -0.8 6.3 32

33 Equity and investment fund shares 74.3 97.6 172.6 221.0 401.7 514.9 288.5 138.4 97.7 207.8 33

34 Money market fund shares 0.8 0.8 0.8 0.8 0.8 3.1 3.9 1.1 2.6 4.1 34

35 Corporate equities 3.5 -3.5 53.2 27.4 104.5 199.7 134.3 62.2 17.5 46.3 35

36 Mutual fund shares 12.3 13.8 13.1 13.8 7.1 -9.2 -16.7 -9.2 13.9 11.5 36

37 Foreign direct investment in the United States 57.8 86.5 105.6 179.0 289.4 321.3 167.0 84.4 63.8 146.0 37

38 Other accounts receivable 0.7 5.5 0.9 -6.5 -4.5 10.4 5.2 15.8 -1.0 2.0 38

39 Net incurrence of liabilities 292.2 352.2 352.4 296.8 406.2 423.3 239.0 273.7 453.2 775.0 39

40 SDR holdings 0.8 -0.4 0.4 0.1 -0.0 0.7 0.6 0.5 -0.6 0.4 40

41 Currency and deposits 44.4 79.5 108.3 15.6 40.8 126.5 11.0 24.3 42.8 151.0 41

42 Official foreign currencies 6.3 -7.6 -2.9 1.5 -3.3 1.9 0.7 0.6 0.6 0.6 42

43 Reserve position in IMF (net) 2.5 1.3 3.6 5.1 -5.5 -2.3 3.6 2.6 -1.5 -3.8 43

44 U.S. private deposits 35.3 85.9 107.7 9.1 48.9 126.9 6.8 21.0 43.8 154.2 44

45 Nonofficial foreign currencies 0.3 -0.1 -0.0 -0.1 0.6 0.0 -0.1 0.1 0.0 0.0 45

46 Debt securities 70.4 77.9 63.3 36.6 26.7 53.0 -2.2 62.6 19.7 101.7 46

47 Commercial paper 13.5 11.3 3.7 7.8 16.3 31.7 18.3 58.8 18.9 69.2 47

48 Bonds 56.9 66.6 59.6 28.8 10.4 21.3 -20.5 3.8 0.8 32.5 48

49 Loans (short term) 6.1 11.1 14.4 -0.6 -11.3 7.5 -15.0 14.6 75.8 145.6 49

50 Security repurchases 0.0 0.0 0.0 0.0 0.0 0.0 3.9 23.6 78.3 148.2 50

51 Other loans and advances -0.5 1.0 -1.8 -6.0 -5.7 -1.3 -3.8 -2.3 -2.0 -3.6 51

52 Depository institution loans n.e.c. 6.6 10.1 16.3 5.4 -5.6 8.8 -15.2 -6.7 -0.5 1.0 52

53 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53
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1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

54 Equity and investment fund shares 169.5 180.7 163.2 245.0 344.8 234.9 249.9 172.3 313.1 377.4 54

55 Corporate equities 65.4 82.8 57.6 101.4 114.3 106.7 109.1 17.0 118.0 84.8 55

56 U.S. government equity in IBRD, etc. 1.5 1.8 1.6 1.6 1.5 1.5 1.7 1.5 1.4 2.0 56

57 U.S. direct investment abroad 98.8 91.9 104.8 142.6 224.9 159.2 142.3 154.5 149.6 316.2 57

58 Investment by holding companies 3.8 4.1 -0.8 -0.6 4.1 -32.5 -3.3 -0.6 44.1 -25.6 58

59 Other accounts payable 1.1 3.3 2.8 0.0 5.2 0.7 -5.3 -0.6 2.3 -1.1 59

 Addendum:

60 Net lending (+) or borrowing (-), financial account (lines 15-39) 50.4 119.0 151.7 86.5 173.5 321.8 367.6 406.9 327.2 452.1 60

 Other changes in volume account

61 Total other volume changes -21.5 4.6 21.9 -118.2 -112.5 -93.0 -86.7 -57.8 -122.1 -179.6 61

62 Other volume changes 33.6 0.0 0.0 0.0 5.0 -10.8 -78.5 -13.4 68.5 -7.5 62

63 Less: Statistical discrepancy (lines 13-60) (3) 55.0 -4.6 -21.9 118.2 117.5 82.2 8.2 44.4 190.6 172.1 63

 Revaluation account

64 Financial assets 194.7 41.8 166.6 174.0 -11.3 -151.5 -214.0 -359.8 443.0 228.1 64

65 Monetary gold and SDRs 0.1 -0.2 -0.4 0.3 -0.2 -0.3 -0.2 0.5 0.6 0.3 65

66 Currency and deposits -0.1 -0.1 0.2 3.5 0.0 0.0 0.0 -8.1 0.0 12.4 66

67 Debt securities 55.2 -48.7 -19.6 -2.1 -152.3 12.7 47.7 41.7 -44.9 -22.5 67

68 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.0 2.5 -11.8 68

69 Treasury securities 23.9 -39.3 -10.9 -5.6 -75.6 38.2 25.6 29.4 -48.4 -62.7 69

70 Agency- and GSE-backed securities -1.4 -15.4 -7.4 17.2 -16.7 -26.0 63.9 6.3 11.4 46.0 70

71 Corporate bonds 32.7 6.0 -1.3 -13.7 -60.0 0.5 -41.7 4.0 -10.4 6.0 71

72 Equity and investment fund shares 139.6 90.9 186.4 172.4 141.1 -163.9 -261.6 -393.8 487.0 237.7 72

73 Corporate equities 128.3 103.2 199.8 243.2 221.6 -150.7 -176.3 -274.0 451.1 208.8 73

74 Mutual fund shares 7.0 8.6 13.6 12.3 27.3 -11.2 -15.7 -16.9 18.7 13.1 74

75 Foreign direct investment in the United States 4.3 -21.0 -27.1 -83.1 -107.8 -2.0 -69.6 -102.9 17.3 15.8 75

76 Other accounts receivable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.2 76

77 Liabilities 163.9 159.1 103.5 160.9 352.4 -300.4 -331.2 -94.4 813.9 591.7 77

78 SDR holdings 0.2 -0.4 -0.6 0.4 -0.3 -0.5 -0.4 0.9 1.1 0.5 78

79 Currency and deposits 11.3 13.2 -16.4 4.6 -1.2 -3.6 -3.5 5.6 3.0 37.3 79

80 Official foreign currencies 1.5 -3.2 -4.6 3.7 -0.6 -2.8 -2.9 4.1 5.3 2.3 80

81 Reserve position in IMF (net) 0.2 -0.5 -0.9 0.9 -0.7 -0.8 -0.6 1.5 2.1 0.8 81

82 U.S. private deposits 9.6 16.9 -10.9 0.0 0.0 0.0 0.0 0.0 -4.4 34.3 82

83 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 83

84 Debt securities (corporate bonds) 53.7 1.0 2.9 4.6 -54.1 3.3 2.8 136.1 183.6 29.6 84

85 Loans (other loans and advances) 0.2 0.1 0.1 0.1 0.2 0.0 0.0 0.0 0.0 0.0 85

86 Equity and investment fund shares 98.6 145.1 117.5 151.1 407.8 -299.6 -330.1 -236.2 625.3 524.1 86

87 Corporate equities 98.4 132.7 144.1 165.8 414.4 -257.6 -349.3 -255.6 587.4 396.2 87

88 U.S. direct investment abroad 0.2 12.4 -26.6 -14.7 -6.6 -42.0 19.2 19.5 37.9 127.8 88

89 Other accounts payable 0.0 0.0 0.0 0.0 -0.0 0.0 -0.1 -0.8 0.9 0.2 89

90 Changes in net worth due to nominal holding gains/losses 30.8 -117.2 63.1 13.1 -363.7 148.9 117.2 -265.4 -370.9 -363.6 90

 Changes in balance sheet account

91 Change in net worth (lines 13+61+90) 114.8 1.7 214.8 99.6 -185.2 460.0 406.3 128.1 24.8 81.0 91

 Financial balance sheet account (end of period) (4)

92 Total financial assets 3306.8 3819.7 4490.4 5047.7 5621.2 6204.0 6652.1 6959.5 8251.4 9699.1 92

93 SDR allocations 7.3 7.0 6.6 6.9 6.7 6.4 6.2 6.7 7.3 7.6 93

94 Currency and deposits 491.7 476.9 528.1 550.7 578.2 544.4 510.4 558.3 506.5 535.5 94

95 Currency 133.9 148.1 170.5 184.4 208.8 205.4 229.2 248.1 258.7 272.0 95

96 Transferable deposits 24.5 27.1 32.2 28.8 28.7 30.9 25.9 25.3 4.2 13.3 96

97 Time deposits 201.3 201.1 214.4 221.0 217.4 226.4 200.9 220.3 167.8 202.9 97

98 Net interbank items due from U.S. banks 131.9 100.6 111.0 116.6 123.3 81.7 54.4 64.6 75.9 47.3 98
Inte

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Historical Annuals, 1995-2004, March 10, 2016 173

S.9.a Rest of the World 

Billions of dollars

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

 

99 Debt securities 1342.7 1669.6 1892.4 2059.7 2077.3 2334.5 2735.0 3197.8 3672.4 4449.6 99

100 Open market paper 43.4 57.9 77.8 111.4 105.0 114.3 108.4 128.5 133.1 137.7 100

101 Treasury securities 816.9 1040.3 1153.2 1166.2 1058.4 1021.4 1095.2 1285.5 1513.5 1813.6 101

102 Agency- and GSE-backed securities (2) 123.1 134.4 157.3 185.6 232.3 348.2 504.1 637.5 661.1 861.7 102

103 Municipal securities 4.0 4.9 5.9 6.8 7.8 8.0 8.0 11.5 19.5 26.0 103

104 Corporate bonds 355.3 432.1 498.2 589.7 673.8 842.6 1019.2 1134.8 1345.2 1610.6 104

105 Loans (short term) 189.7 196.9 234.1 214.3 199.5 208.7 266.8 316.0 598.2 794.9 105

106 Security repurchases 67.6 70.9 90.8 72.0 79.9 91.3 151.1 190.1 473.2 663.7 106

107 Loans to U.S. corporate business 122.1 126.0 143.3 142.3 119.5 117.3 115.7 125.8 125.0 131.2 107

108 Equity and investment fund shares 1229.6 1418.0 1777.0 2170.4 2713.2 3064.2 3091.2 2835.7 3420.5 3866.0 108

109 Money market fund shares 5.1 5.8 6.6 7.3 8.1 11.2 15.1 16.3 18.8 22.9 109

110 Corporate equities 484.6 584.3 837.3 1107.9 1434.0 1483.0 1441.0 1229.1 1697.6 1952.7 110

111 Mutual fund shares 59.9 82.3 109.0 135.1 169.5 149.0 116.6 90.5 123.1 147.7 111

112 Foreign direct investment in the United States 680.1 745.6 824.1 920.0 1101.7 1421.0 1518.5 1500.0 1581.0 1742.7 112

113 Other accounts receivable 45.8 51.3 52.2 45.7 46.2 45.8 42.7 45.0 46.5 45.4 113

114 Total liabilities and net worth 3306.8 3819.7 4490.4 5047.7 5621.2 6204.0 6652.1 6959.5 8251.4 9699.1 114

115 Total liabilities 2874.2 3385.5 3841.4 4299.0 5057.7 5180.5 5222.4 5401.6 6668.7 8035.3 115

116 SDR holdings 11.0 10.3 10.0 10.6 10.3 10.5 10.8 12.2 12.6 13.6 116

117 Currency and deposits 484.8 577.5 669.4 689.6 729.2 852.0 859.5 972.7 1018.5 1206.8 117

118 Official foreign currencies 49.1 38.3 30.8 36.0 32.2 31.2 29.0 33.7 39.5 42.5 118

119 Reserve position in IMF (net) 14.6 15.4 18.1 24.1 18.0 14.8 17.9 22.0 22.5 19.5 119

120 U.S. private deposits 418.8 521.7 618.5 627.6 676.5 803.3 810.1 914.4 953.8 1142.2 120

121 Nonofficial foreign currencies 2.3 2.1 2.1 1.9 2.6 2.6 2.5 2.6 2.6 2.6 121

122 Debt securities 488.1 567.1 633.2 674.4 647.1 703.3 704.0 819.3 1022.6 1153.9 122

123 Commercial paper 56.2 67.5 65.1 72.9 89.2 120.9 198.5 257.2 276.1 345.3 123

124 Bonds 431.9 499.6 568.2 601.6 557.9 582.4 505.5 562.1 746.5 808.6 124

125 Loans (short term) 142.6 153.8 168.4 167.9 156.8 164.3 283.4 298.0 373.8 519.4 125

126 Security repurchases 0.0 0.0 0.0 0.0 0.0 0.0 138.0 161.6 239.9 388.1 126

127 Other loans and advances 63.0 64.2 62.5 56.6 51.1 49.8 46.1 43.8 41.8 38.2 127

128 Depository institution loans n.e.c. 79.6 89.7 105.9 111.3 105.7 114.5 99.4 92.7 92.2 93.1 128

129 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 129

130 Equity and investment fund shares 1722.5 2048.3 2329.1 2725.2 3477.9 3413.2 3333.0 3269.1 4207.5 5109.0 130

131 Corporate equities 790.6 1006.1 1207.8 1475.0 2003.7 1852.8 1612.7 1374.0 2079.4 2560.4 131

132 U.S. government equity in IBRD, etc. 28.0 29.8 31.4 33.0 34.4 35.9 37.6 39.1 40.5 42.5 132

133 U.S. direct investment abroad 885.5 989.8 1068.1 1196.0 1414.4 1531.6 1693.1 1867.0 2054.5 2498.5 133

134 Investment by holding companies 18.5 22.6 21.9 21.3 25.4 -7.1 -10.4 -11.1 33.1 7.5 134

135 Other accounts payable 25.1 28.4 31.2 31.2 36.4 37.1 31.8 30.4 33.6 32.7 135

136 Net worth (external account) 432.6 434.3 649.1 748.7 563.5 1023.5 1429.8 1557.9 1582.7 1663.7 136

(1) Prior to 1999, current taxes, contributions for government social insurance, and transfer receipts from the rest of the world (line 8) are not separately displayed, and line 4 includes

 current taxes and transfer payments to the rest of the world net of current taxes, contributions for government social insurance, and transfer receipts from the rest of the world.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes nonfinancial assets, including nonproduced nonfinancial assets.

IBRD International Bank for Reconstruction and Development

IMF International Monetary Fund

SDRs Special Drawing Rights

n.e.c. Not elsewhere classified