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 noon, eastern time

December 9, 2022

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

Third Quarter 2022

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

The net worth of households and nonprofits fell to 

$143.3 trillion during the third quarter of 2022. The 

value of directly and indirectly held corporate equities 

decreased $1.9 trillion and the value of real estate 

increased $0.8 trillion.

Domestic nonfinancial debt outstanding was $68.5 

trillion at the end of the third quarter of 2022, of which 

household debt was $18.8 trillion, nonfinancial business 

debt was $19.8 trillion, and total government debt was 

$29.8 trillion.

Domestic nonfinancial debt expanded 4.9 percent at an 

annual rate in the third quarter of 2022, down from an 

annual rate of 6.5 percent in the previous quarter.

Household debt increased 6.3 percent at an annual rate 

in the third quarter of 2022. Consumer credit grew at an 

annual rate of 7 percent, while mortgage debt (excluding 

charge-offs) grew at an annual rate of 6.6 percent.

Nonfinancial business debt rose at an annual rate of 

5.3 percent in the third quarter of 2022, down from a 7.7 

percent annual rate in the previous quarter.

Federal government debt increased 4.2 percent at an 

annual rate in the third quarter of 2022, down from a 5.6 

percent annual rate in the previous quarter.

State and local government debt contracted at an 

annual rate of 0.6 percent in the third quarter of 2022, 

after expanding at an annual rate of 1.6 percent in the 

previous quarter.

Recent Developments in Household Net Worth and 

Domestic Nonfinancial Debt

Household Net Worth and Growth of Domestic Nonfinancial Debt

Year

Household 

net worth1

Growth of domestic nonfinancial debt2

Total Households Businesses

Federal 

government

State and 

local gov’ts

2012 72,068 4.7 0.5 5.7 10.1 -0.0

2013 80,649 4.2 2.3 4.9 6.7 -0.2

2014 86,762 3.8 1.2 6.8 5.4 -2.2

2015 89,736 4.4 2.3 7.0 5.0 0.5

2016 94,727 4.3 3.1 5.1 5.6 1.0

2017 103,439 4.2 3.9 6.1 3.7 -0.0

2018 104,041 4.7 3.1 4.5 7.6 -1.2

2019 116,539 4.7 3.3 4.9 6.6 -0.1

2020 131,344 12.4 3.8 9.2 24.1 2.9

2021 150,122 6.3 7.4 5.0 7.1 2.2

2020: Q3 122,606 4.8 5.7 0.3 7.5 5.6

Q4 131,344 5.8 6.1 0.9 9.9 1.6

2021: Q1 136,220 5.2 6.9 4.9 4.6 3.4

Q2 142,159 7.2 7.4 2.4 11.2 3.2

Q3 145,306 3.4 6.4 5.2 0.1 3.0

Q4 150,122 8.8 8.1 7.0 12.1 -1.0

2022: Q1 149,954 8.3 8.2 7.8 10.2 -2.8

Q2 143,670 6.5 7.4 7.7 5.6 1.6

Q3 143,278 4.9 6.3 5.3 4.2 -0.6

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

 seasonally adjusted.

2. Percentage changes calculated as transactions at a seasonally adjusted annual rate divided by previous quarter’s seasonally 

 adjusted level, shown at an annual rate.
ii
iii

Topic Description

National Income and Product 

Accounts annual update

The statistics in this publication reflect the 2022 annual update 

of the National Income and Product Accounts (NIPAs) released 

by the Bureau of Economic Analysis (BEA) on September 29, 

2022, as well as information for 2022:Q3 released by BEA on 

November 30, 2022. See the October 2022 issue of the Survey 

of Current Business at https://apps.bea.gov/scb/ for details on 

the 2022 annual update.

Fixed assets annual update Investment, depreciation, and capital stock data for private and 

government sectors have been revised beginning in 2017 to 

reflect updated annual estimates of fixed assets from BEA.

Nonfinancial corporate business 

corporate equity issuance

Beginning 2008:Q1, nonfinancial corporate business corporate 

equity issuance (tables F.223 and L.223) has been revised to 

incorporate new source data for private equity issuance. Levels 

are unaffected; however, residually computed revaluations also 

revised.

U.S.-Chartered depository institutions 

mutual funds and corporate equities

U.S.-Chartered depository institutions sector (tables F.111 and 

L.111) holdings of mutual funds and corporate equities have 

been revised to reflect improved methodology for estimating 

revaluations. Revaluations and levels outstanding have been 

adjusted for all periods.

Tax on foreign earnings retained 

abroad of holding companies and 

securities brokers and dealers

Beginning 2009:Q1, tax on foreign earnings retained abroad of 

securities brokers and dealers (tables F.130 and L.130) has 

been reassigned to holding companies (tables F.131 and 

L.131), to align with changes in sector holdings of U.S. direct 

investment abroad that were incorporated in the September 

2022 Z.1 release.

Commercial real estate Levels and capital gains for commercial real estate (CRE) have 

been revised beginning 1996:Q2. Capital gains are now 

estimated using end-of-quarter values of a CRE price index 

(FI075035503) instead of quarterly averages of that index. The 

affected series are 115035033 (nonfinancial noncorporate 

business CRE), 105035033 (nonfinancial corporate business 

CRE), 165035033 (nonprofit organizations CRE), and 

665035003 (security and brokers dealers CRE).

Financial Soundness Indicators 

moving to International Monetary 

Fund webpage

Beginning with the March 2023 Z.1 release, Financial 

Soundness Indicators (FSIs) Table 1 and Annex tables 5-8 will 

no longer be available on the Financial Accounts Guide 

International Data Submissions webpage. Beginning late 

December 2022, FSIs will be updated to conform with 

guidelines described in the IMF 2019 Financial Soundness 

Indicators Compilation Guide, and will be available quarterly on 

the International Monetary Fund’s website.

Release Highlights

Third Quarter 2022
iv
v

Financial Accounts of the United States

The Statistical Release Z.1, Financial Accounts of the 

United States, or Financial Accounts, is organized into 

the following sections:

■ Matrices summarizing transactions and levels 

across sectors and tables on debt growth, net 

national wealth, gross domestic product (GDP), 

national income, saving, and so on

■ Transactions of financial assets and liabilities, 

by sector and by financial instrument 

■ Levels of financial assets and liabilities, by 

sector and by financial instrument

■ Balance sheets, including nonfinancial assets, 

and changes in net worth for households and 

nonprofit organizations, nonfinancial corporate 

businesses, and nonfinancial noncorporate 

businesses

Supplementary tables including balance sheets 

for the household sector, nonprofit organization 

sector, the household and nonprofit 

organization sector with additional equity and 

debt detail, and domestic hedge funds, as well 

as tables detailing stocks and flows of fixed 

assets

■ Integrated Macroeconomic Accounts (IMA)

The IMA relate production, income, saving, and capital 

formation from the Bureau of Economic Analysis’s 

(BEA) national income and product accounts (NIPA) to

changes in net worth from the Financial Accounts on a 

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

the Federal Reserve Board and BEA and are based on 

international guidelines and terminology as defined in 

the System of National Accounts (SNA2008).

Federal Reserve Board staff have taken many steps over 

the past several years to conform the Financial Accounts

with the SNA2008 guidelines. Nonetheless, a few 

important differences remain, in particular, the 

following in the Financial Accounts:

■ The purchase of consumer durables is treated as 

investment rather than as consumption.

■ Nonfinancial noncorporate businesses (which 

are often small businesses) are shown in a 

separate sector rather than being included in the 

household sector.

■ Some debt securities are recorded at book value 

rather than market value.

Concepts of Levels and Transactions in 

the SNA and the Financial Accounts

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

“stock” or “outstanding”) measures the value of the 

asset or liability in existence at a point in time. In the 

Financial Accounts, the levels are reported as of the end 

of each calendar quarter. In the SNA2008, the change in 

the level from one period to the next is called the 

economic flow, and can be decomposed into three broad 

elements: transactions, which measure the exchange of 

assets; revaluations, which measure holding gains and 

losses; and other changes in volume, which measure 

discontinuities or breaks in time series due to disaster 

losses or a change in source data or definition. In 

practice, other volume changes are relatively rare, and 

revaluations occur mainly for series carried at market 

value (such as corporate equities, real estate, and some 

debt securities), so for many series the change in the 

level is equal to the transactions element.

Growth Rates

Growth rates calculated from levels include revaluations 

and other changes in volume. In order to isolate the 

effect of transactions on the growth of a given asset or 

liability, users should calculate the ratio of transactions

in a given period to the level in the preceding period. 

Growth rates in table D.1 are calculated by dividing 

transactions at a seasonally adjusted annual rate from 

table D.2 by seasonally adjusted levels at the end of the 

previous period from table D.3. Growth rates calculated 

from changes in unadjusted levels may differ from those 

in table D.1.

Seasonal Adjustment

Seasonal factors are recalculated and updated with the 

December release of third-quarter data. Series that 

exhibit significant seasonal patterns are adjusted. 

Seasonal factors are generated using the X-13-ARIMA 

seasonal adjustment program from the U.S. Census 

Bureau, estimated using the most recent 10 years of 

transaction data. Due to distortions of seasonal patterns 

caused by financial crises, seasonal factors for affected 

series are extrapolated using pre-crisis data until several 

years of post-crisis data are available. Seasonally 

adjusted levels shown in table D.3 are derived by 

carrying forward year-end levels by seasonally adjusted 

transactions.

Explanatory Notes
vi

Data Revisions 

Data shown for the most recent quarters are based on 

preliminary and potentially incomplete information. A 

summary list of the most recent data available for each 

sector is provided in a table following these notes. 

Nonetheless, when source data are revised or estimation 

methods are improved, all data are subject to revision.

There is no specific revision schedule; rather, data are 

revised on an ongoing basis. In each release of the 

Financial Accounts, major revisions are highlighted at 

the beginning of the publication.

Discrepancies 

The data in the Financial Accounts come from a large 

variety of sources and are subject to limitations and 

uncertainty due to measurement errors, missing 

information, and incompatibilities among data sources.

The size of this uncertainty cannot be quantified, but its 

existence is acknowledged by the inclusion of 

“statistical discrepancies” for various sectors and 

financial instruments.

The discrepancy for a given sector is defined as the 

difference between the aggregate value of the sector’s 

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

Sources of funds are gross savings less net capital 

transfers paid and net increase in liabilities and equity; 

uses of funds are capital expenditures and the net 

acquisition of financial assets. If a sector’s sources of 

funds are greater than its uses of funds, the sector is a 

net lender of funds in the accounts. In the reverse case, 

the sector would be a net borrower of funds. Most of the 

data for deriving gross savings come from the BEA’s 

NIPA. For a financial instrument category, the 

discrepancy is defined as the difference between the 

measurement of funds raised through the financial 

instrument and funds disbursed through that instrument. 

The relative size of the statistical discrepancy is one 

indication of the quality of the underlying source data.

Note that differences in seasonal adjustment procedures 

sometimes result in quarterly discrepancies that partially 

or completely offset each other in the annual data.

Financial Accounts Guide 

Substantially more detail on the construction of the 

Financial Accounts is available in the Financial 

Accounts Guide, which provides interactive, online 

documentation for each data series. The tools and 

descriptions in the guide are designed to help users 

understand the structure and content of the Financial 

Accounts.

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

according to a unique string of patterned numbers and 

letters. The series structure page of the guide provides a 

breakdown of what the letters and numbers represent in 

the series mnemonics. Some data submissions to 

international organizations are also available in the 

guide. The guide is updated with the quarterly release 

and is available online:

www.federalreserve.gov/apps/fof

Enhanced Financial Accounts and Data 

Visualization 

Additional supplementary information is available 

online in the Enhanced Financial Accounts, which 

augment the Financial Accounts with finer detail, 

additional types of activities, higher-frequency data, and 

more-disaggregated data. Links to the Enhanced 

Financial Accounts are available from both the 

Financial Accounts Guide page and the main release 

page. In addition, interactive online data visualizations

are available for selected components of the Financial 

Accounts and Enhanced Financial Accounts. Links are 

available also on the same pages.

Production Schedule 

The Financial Accounts are published four times per 

year, about 10 weeks following the end of each calendar 

quarter. The publication is available online:

www.federalreserve.gov/releases/Z1

This website also provides CSV files of quarterly data 

for transactions at a seasonally adjusted annual rate, 

unadjusted transactions, levels outstanding, balance 

sheets, debt tables, supplementary tables, and the IMA. 

In addition, the data are available as customizable

datasets through the Federal Reserve Board’s Data 

Download Program online:

www.federalreserve.gov/datadownload/default.htm

Print Subscription Information 

The Federal Reserve Board charges a fee for 

subscriptions to print versions of statistical releases.

Inquiries regarding print versions should be directed to 

the following office:

Publications Services, Stop 127

Board of Governors of the Federal Reserve System

20th Street and Constitution Avenue, N.W.

Washington, DC 20551

(202) 452-3245
vii

Sector Table Available at time of publication

National income and product 

accounts (NIPA) 

(various tables) 

Second estimate, seasonally adjusted, for 2022:Q3. Corporate 

profits through 2022:Q3 (preliminary). Government receipts and 

expenditures unadjusted transactions from 1952:Q1 forward. 

GDP and income unadjusted transactions from 2002:Q1 

forward. Many BEA series are downloaded via Haver Analytics. 

Households and nonprofit

organizations sector

(tables F.101 and L.101)

Estimates are largely residual, derived from other sectors’ data. 

Data for consumer credit, which are estimated directly, are 

available through 2022:Q3. Internal Revenue Service Statistics 

of Income (IRS/SOI) data for Section 501(c)(3-9) nonprofit 

organizations and private foundations and Section 4947(a)(1) 

Nonexempt Charitable Trusts are available through 2018 (table 

B.101.n). Data on hedge funds from SEC forms PF and ADV 

through 2022:Q2 (table B.101.f).

Nonfinancial corporate business 

(tables F.103 and L.103)

Quarterly Financial Report (QFR) of the Census Bureau through 

2022:Q3; IRS/SOI data through 2020. Securities offerings, 

mortgages, bank loans, commercial paper, and other loans 

through 2022:Q3. Corporate farm data through 2021; USDA 

forecast through 2022:Q3.

Nonfinancial noncorporate business

(tables F.104 and L.104)

IRS/SOI data through 2020; bank and finance company loans, 

and mortgage borrowing through 2022:Q3. Noncorporate farm 

data through 2021; USDA forecast through 2022:Q3.

Federal government

(tables F.106 and L.106)

Monthly Treasury Statement of Receipts and Outlays and

Monthly Statement of the Public Debt through 2022:Q3. Loan 

program data through 2022:Q2.

State and local governments

(tables F.107 and L.107)

Gross offerings and retirements of municipal securities, deposits 

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

through 2022:Q3. Data for total financial assets from Census

Bureau through 2019:Q2. Additional financial asset detail from 

comprehensive annual financial reports of state and local 

governments through 2011:Q2.

Monetary authority

(tables F.109 and L.109)

All data through 2022:Q3.

U.S.-chartered depository

institutions

(tables F.111 and L.111)

All data through 2022:Q3.

Foreign banking offices in U.S.

(tables F.112 and L.112)

All data through 2022:Q3.

Banks in U.S.-affiliated areas

(tables F.113 and L.113)

All data through 2022:Q3.

Credit unions

(tables F.114 and L.114)

Credit Union National Association and corporate Call Reports

through 2022:Q3; Natural person Call Reports through 2022:Q2.

Property-casualty insurance 

companies

(tables F.115 and L.115)

All data through 2022:Q3 (excluding NJ-domiciled firms).

Description of Most Recent Data Available
viii

Sector Table Available at time of publication

Life insurance companies

(tables F.116 and L.116)

All data through 2022:Q3 (NJ-domiciled firms extrapolated).

Private pension funds

(tables F.118 and L.118)

Internal Revenue Service/Department of Labor Form 5500 data 

through 2020. Investment Company Institute data through 

2022:Q2. BEA annual actuarial liability data through 2021:Q4.

Federal government retirement 

funds

(tables F.119 and L.119)

Data from the Monthly Treasury Statement of Receipts and 

Outlays, the Thrift Savings Plan, and the National Railroad 

Retirement Investment Trust through 2022:Q3. BEA annual 

actuarial liability data through 2021:Q4.

State and local government 

employee retirement funds

(tables F.120 and L.120)

Census Bureau Annual Survey of Public Pensions through 

2021:Q2. Quarterly Survey of Public Pensions through 2022:Q2.

Investment Company Institute data through 2022:Q2. BEA 

annual actuarial liability data through 2021:Q4.

Money market funds

(tables F.121 and L.121)

All data through 2022:Q3.

Mutual funds

(tables F.122 and L.122)

All data through 2022:Q3.

Closed-end funds

(tables F.123 and L.123)

All data through 2022:Q3.

Exchange-traded funds

(tables F.124 and L.124)

All data through 2022:Q3.

Government-sponsored enterprises 

(GSEs)

(tables F.125 and L.125)

Data for Fannie Mae, Freddie Mac, REFCORP, Farmer Mac,

FCS, and FHLB through 2022:Q3. 

Agency- and GSE-backed 

mortgage pools

(tables F.126 and L.126)

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

Mae through 2022:Q3.

Issuers of asset-backed securities 

(ABS)

(tables F.127 and L.127)

All data for private mortgage pools, consumer credit, business 

loans, student loans, consumer leases, and trade credit 

securitization through 2022:Q3.

Finance companies

(tables F.128 and L.128)

All data through 2022:Q3.

Real estate investment trusts 

(REITs)

(tables F.129 and L.129)

All data through 2022:Q3.

Security brokers and dealers

(tables F.130 and L.130)

FOCUS reports through 2022:Q3; FOGS reports through

2022:Q2.

Holding companies

(table F.131 and L.131)

All data through 2022:Q3.

Other financial business

(tables F.132 .and L.132)

Estimates are largely residual, derived from other sectors’ data.

Financial statements of central clearing parties through

2022:Q3.

Rest of the world

(tables F.133 and L.133)

NIPA estimates, depository institutions’ Call Reports, and 

Treasury International Capital System through 2022:Q3. 

International investment position and international transaction 

accounts through 2022:Q2.
ix

Title Table Page

Summaries

Financial Accounts Matrix—Transactions 1

Financial Accounts Matrix—Levels 3

Debt Growth by Sector D.1 5

Borrowing by Sector D.2 6

Debt Outstanding by Sector D.3 7

Derivation of U.S. Net Wealth B.1 8

Distribution of Gross Domestic Product F.2 9

Distribution of National Income F.3 10

Saving and Investment F.4 11

Net Capital Transfers F.5 12

Derivation of Measures of Personal Saving F.6 13

Assets and Liabilities of the Personal Sector L.6 14

Title

Transactions Levels

Table Page Table Page

Sectors

Domestic Nonfinancial F.100 15 L.100 77

Households and Nonprofit Organizations F.101 16 L.101 78

Nonfinancial Business F.102 17 L.102 79

Nonfinancial Corporate Business F.103 18 L.103 80

Nonfinancial Noncorporate Business F.104 19 L.104 81

General Government F.105 20 L.105 82

Federal Government F.106 21 L.106 83

State and Local Governments F.107 22 L.107 84

Domestic Financial F.108 23 L.108 85

Monetary Authority F.109 24 L.109 86

Private Depository Institutions F.110 25 L.110 87

U.S.-Chartered Depository Institutions F.111 26 L.111 88

Foreign Banking Offices in U.S. F.112 27 L.112 89

Banks in U.S.-Affiliated Areas F.113 28 L.113 90

Credit Unions F.114 29 L.114 90

List of Data Tables
x

Sectors

Property-Casualty Insurance Companies F.115 29 L.115 91

Life Insurance Companies F.116 30 L.116 92

Life Insurance Companies: General Accounts F.116.g 31 L.116.g 93

Life Insurance Companies: Separate Accounts F.116.s 31 L.116.s 93

Private and Public Pension Funds F.117 32 L.117 94

Private Pension Funds F.118 33 L.118 95

Private Pension Funds: Defined Benefit Plans F.118.b 34 L.118.b 96

Private Pension Funds: Defined Contribution 

Plans F.118.c 34 L.118.c 96

Federal Government Employee Retirement Funds F.119 35 L.119 97

Federal Government Employee Retirement 

Funds: Defined Benefit Plans F.119.b 36 L.119.b 98

Federal Government Employee Retirement 

Funds: Defined Contribution Plans F.119.c 37 L.119.c 98

State and Local Government Employee Retirement 

Funds F.120 37 L.120 99

State and Local Government Employee 

Retirement Funds: Defined Benefit Plans F.120.b 38 L.120.b 100

State and Local Government Employee 

Retirement Funds: Defined Contribution 

Plans F.120.c 38 L.120.c 100

Money Market Funds F.121 39 L.121 101

Mutual Funds F.122 39 L.122 101

Closed-End Funds F.123 40 L.123 102

Exchange-Traded Funds F.124 40 L.124 102

Government-Sponsored Enterprises F.125 41 L.125 103

Agency- and GSE-Backed Mortgage Pools F.126 41 L.126 103

Issuers of Asset-Backed Securities F.127 42 L.127 104

Finance Companies F.128 43 L.128 105

Real Estate Investment Trusts (REITs) F.129 44 L.129 106

Equity Real Estate Investment Trusts F.129.e 45 L.129.e 107

Mortgage Real Estate Investment Trusts F.129.m 45 L.129.m 107

Security Brokers and Dealers F.130 46 L.130 108

Holding Companies F.131 47 L.131 109

Other Financial Business F.132 48 L.132 110

Rest of the World F.133 49 L.133 111
xi

Instruments

U.S. Official Reserve Assets and SDR Allocations F.200 50 L.200 112

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 50 L.201 112

U.S. Deposits in Foreign Countries F.202 50 L.202 112

Net Interbank Transactions F.203 51 L.203 113

Checkable Deposits and Currency F.204 52 L.204 114

Time and Savings Deposits F.205 53 L.205 115

Money Market Fund Shares F.206 53 L.206 115

Federal Funds and Security Repurchase Agreements F.207 54 L.207 116

Debt Securities F.208 55 L.208 117

Open Market Paper F.209 56 L.209 118

Treasury Securities F.210 57 L.210 119

Agency- and GSE-Backed Securities F.211 58 L.211 120

Municipal Securities F.212 59 L.212 121

Corporate and Foreign Bonds F.213 60 L.213 122

Loans F.214 61 L.214 123

Depository Institution Loans Not Elsewhere Classified F.215 62 L.215 124

Other Loans and Advances F.216 63 L.216 125

Total Mortgages F.217 64 L.217 126

One-to-four-family Residential Mortgages F.218 65 L.218 127

Multifamily Residential Mortgages F.219 65 L.219 127

Commercial Mortgages F.220 66 L.220 128

Farm Mortgages F.221 66 L.221 128

Consumer Credit F.222 67 L.222 129

Corporate Equities F.223 68 L.223 130

Mutual Fund Shares F.224 68 L.224 130

Trade Credit F.225 69 L.225 131

Life Insurance Reserves F.226 69 L.226 131

Pension Entitlements F.227 70 L.227 132

Taxes Payable by Businesses F.228 70 L.228 132

Proprietors' Equity in Noncorporate Business F.229 70 L.229 132

Direct Investment F.230 71 L.230 133
xii

Instruments

Total Miscellaneous Financial Claims F.231 72 L.231 134

Identified Miscellaneous Financial Claims—Part I F.232 73 L.232 135

Identified Miscellaneous Financial Claims—Part II F.233 74 L.233 136

Unidentified Miscellaneous Financial Claims F.234 75 L.234 137

Sector Discrepancies F.7 76

Instrument Discrepancies F.8 76

Title

Balance Sheet Change in Net Worth

Table Page Table Page

Balance Sheet and Change in Net Worth

Households and Nonprofit Organizations B.101 138 R.101 141

Nonfinancial Corporate Business B.103 139 R.103 142

Nonfinancial Noncorporate Business B.104 140 R.104 143

Title Table Page

Supplementary Tables

Balance Sheet of Households B.101.h 144

Balance Sheet of Nonprofit Organizations B.101.n 145

Balance Sheet of Households and Nonprofit Organizations with Debt and Equity

Holdings Detail B.101.e 146

Balance Sheet of Domestic Hedge Funds B.101.f 147

Gross Fixed Investment F.4.g 148

Consumption of Fixed Capital F.4.c 149

Net Fixed Investment F.4.f 150

Net Stocks of Fixed Assets, current cost L.4.s 151
xiii

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy—Current Account S.1.a 152

Selected Aggregates for Total Economy and Sectors S.2.a 153

Households and Nonprofit Institutions Serving Households S.3.a 155

Nonfinancial Noncorporate Business S.4.a 158

Nonfinancial Corporate Business S.5.a 161

Financial Business S.6.a 164

Central Bank S.61.a 167

 Private Depository Institutions S.62.a 169

 Insurance Companies S.63.a 172

 Pension Funds S.64.a 175

 Other Financial Business S.65.a 178

Federal Government S.7.a 181

State and Local Governments S.8.a 184

Rest of the World S.9.a 187
xiv
Summary

1

Z.1, December 9, 2022 Financial Accounts Matrix--Transactions for 2021

(Billions of dollars; seasonally adjusted)

Households State Domestic Domestic Instrument

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

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

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

1 Gross saving less net cap. transfers -- 4902.4 -- 2857.7 -- -2632.9 -- 632.4 -- 5759.5 -- 338.2 -- 864.9 -- 6962.6 -- 2 Capital consumption -- 2068.3 -- 2191.6 -- 322.7 -- 324.4 -- 4906.9 -- 288.4 -- -- -- 5195.4 -- 3 Net saving (1 less 2) -- 2834.1 -- 666.1 -- -2955.6 -- 308.0 -- 852.6 -- 49.8 -- 864.9 -- 1767.2 -- 4 Gross investment (5 plus 11) 4678.5 -- 2830.8 -- -2370.4 -- 634.8 -- 5773.7 -- 711.3 -- 525.2 -- 7010.2 -- -47.65 Capital expenditures 3050.7 -- 2642.8 -- 353.3 -- 461.6 -- 6508.5 -- 330.7 -- -0.1 -- 6839.1 -- 123.56 Consumer durables 1918.6 -- -- -- -- -- -- -- 1918.6 -- -- -- -- -- 1918.6 -- -- 7 Residential 925.7 -- 174.2 -- 0.4 -- 8.1 -- 1108.5 -- 7.6 -- -- -- 1116.1 -- -- 8 Nonresidential 220.6 -- 2481.3 -- 362.0 -- 436.5 -- 3500.4 -- 323.1 -- -- -- 3823.5 -- -- 9 Inventory change -- -- -19.1 -- -- -- -- -- -19.1 -- -- -- -- -- -19.1 -- -- 10 Nonproduced nonfinancial assets -14.3 -- 6.4 -- -9.0 -- 17.0 -- 0.1 -- -- -- -0.1 -- -- -- -- 11 Net lending (+) or net borrowing (-) 1627.9 -- 188.0 -- -2723.8 -- 173.2 -- -734.8 -- 380.5 -- 525.4 -- 171.2 -- -171.212 Net acquisition of financial assets 2869.6 -- 1680.0 -- -1242.7 -- 550.0 -- 3856.9 -- 7513.6 -- 1853.5 -- 13224.1 -- -- 13 Net increase in liabilities and equity -- 1241.8 -- 1492.0 -- 1481.1 -- 376.9 -- 4591.7 -- 7133.1 -- 1328.1 -- 13052.9 -- 14 U.S. official reserve assets -- -- -- -- 114.1 112.8 -- -- 114.1 112.8 -0.1 -- 112.8 114.0 226.8 226.8 -- 15 SDR certificates -- -- -- -- -- 0.0 -- -- -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- -0.1 -- -- -- -0.1 0.4 -- -- -- 0.4 -0.1 -0.517 Foreign deposits -0.2 -- 23.8 -- -- -- -- -- 23.5 -- -2.2 -- -- 48.4 21.3 48.4 27.118 Interbank claims -- -- -- -- -- -- -- -- -- -- 609.3 693.3 66.9 -- 676.2 693.3 17.119 Checkable dep. and currency 1097.6 -- 219.6 -- -1323.9 -- 115.8 -- 109.1 -- 55.0 230.7 66.0 -- 230.1 230.7 0.620 Time and savings deposits 788.7 -- 94.1 -- 1.4 -- -31.2 -- 853.0 -- -130.9 758.2 36.2 -- 758.2 758.2 -- 21 Money market fund shares 101.4 -- 103.3 -- -- -- 15.3 -- 220.1 -- 198.7 439.5 20.8 -- 439.5 439.5 -- 22 Fed. funds and security repos -- -- -11.9 -- -- -- 10.0 -- -1.9 -- 1116.6 1732.5 281.4 -106.2 1396.2 1626.3 230.123 Debt securities -867.5 -1.6 27.0 215.4 0.0 1683.4 332.4 69.0 -508.1 1966.2 3084.5 799.1 700.8 511.8 3277.1 3277.1 -- 24 Open market paper -- -- 2.1 6.0 -- -- 4.0 -- 6.1 6.0 19.2 -46.2 1.9 67.4 27.3 27.3 -- 25 Treasury securities -679.5 -- 19.1 -- -- 1683.8 383.9 -- -276.5 1683.8 1320.7 -- 639.6 -- 1683.8 1683.8 -- 26 Agency- and GSE-backed sec. 22.6 -- 5.0 -- 0.0 -0.4 -39.8 -- -12.3 -0.4 641.8 612.9 -17.0 -- 612.5 612.5 -- 27 Municipal securities -102.4 -1.6 0.8 10.5 -- -- 3.8 69.0 -97.8 77.9 174.0 -- 1.8 -- 77.9 77.9 -- 28 Corporate and fgn. bonds -108.1 -- -- 198.9 0.0 -- -19.5 -- -127.6 198.9 928.8 232.4 74.5 444.4 875.6 875.6 -- 29 Loans 96.4 1235.0 10.5 667.4 176.4 0.0 7.7 0.5 290.9 1902.8 1791.7 152.7 122.1 149.1 2204.7 2204.7 -- 30 Depository inst. loans n.e.c. -- 53.1 -- -123.8 -- -- -- -- -- -70.6 128.2 46.5 -- 152.4 128.2 128.2 -- 31 Other loans and advances 92.0 95.6 -- 361.8 115.0 0.0 -- 0.5 207.0 457.9 240.9 115.4 122.1 -3.2 570.0 570.0 -- 32 Mortgages 6.1 840.3 10.4 429.4 6.0 0.0 7.7 -- 30.2 1269.7 1230.4 -9.1 -- -- 1260.5 1260.5 -- 33 Consumer credit -1.6 246.0 0.0 -- 55.4 -- -- -- 53.8 246.0 192.2 -- -- -- 246.0 246.0 -- 34 Corporate equities 726.7 -- -102.8 -338.1 -0.0 -- -3.4 -- 620.5 -338.1 86.1 843.8 -46.1 154.8 660.5 660.5 -- 35 Mutual fund shares 514.6 -- 23.1 -- -- -- 1.2 -- 538.9 -- -328.9 215.7 5.8 -- 215.7 215.7 -- 36 Trade credit 8.2 6.9 598.7 509.9 10.6 64.5 32.0 54.3 649.5 635.6 35.8 89.7 80.8 3.4 766.1 728.7 -37.337 Life insurance reserves 31.0 -- -- -- -- 0.3 -- -- 31.0 0.3 39.5 48.0 -1.4 20.7 69.1 69.1 -- 38 Pension entitlements 325.2 -- -- -- -- -- -- -- 325.2 -- 88.5 369.7 -1.6 42.4 412.0 412.0 -- 39 Taxes payable -- -- -- -18.9 -137.2 -- 5.3 -- -131.9 -18.9 -- -9.8 -- -- -131.9 -28.7 103.240 Equity in noncorp. business -5.9 -- -- -21.7 -- -- -- -- -5.9 -21.7 -- 15.8 -- -- -5.9 -5.9 -- 41 U.S. direct investment: debt -- -- -39.0 -- -- -- -- -- -39.0 -- -8.3 -- -- -47.4 -47.4 -47.4 -- 42 U.S. direct investment: equity -- -- 347.0 -- -- -- -- -- 347.0 -- 79.1 -- -- 426.1 426.1 426.1 -- 43 Foreign direct investment: debt -- -- -- 19.6 -- -- -- -- -- 19.6 -- 4.9 24.5 -- 24.5 24.5 -- 44 Foreign direct investment: equity -- -- -- 360.6 -- -- -- -- -- 360.6 -- 20.1 380.8 -- 380.8 380.8 -- 45 Miscellaneous 53.5 1.5 386.7 97.7 -84.1 -379.8 65.1 253.1 421.2 -27.5 798.9 728.9 3.8 11.1 1223.9 712.5 -511.446 Sector discrepancies (1 less 4) 223.8 -- 26.8 -- -262.5 -- -2.4 -- -14.2 -- -373.0 -- 339.6 -- -47.6 -- -47.6General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

2

Z.1, December 9, 2022 Financial Accounts Matrix--Transactions

Households State Domestic Domestic Instrument

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

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

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

1 Gross saving less net cap. transfers -- 156000105 -- 146000105 -- 316000105 -- 216000105 -- 386000105 -- 796000105 -- 266000105 -- 896000105 -- 2 Capital consumption -- 156300005 -- 146300005 -- 316300001 -- 216300001 -- 386300005 -- 796300005 -- -- -- 886300005 -- 3 Net saving (1 less 2) -- 156006305 -- 146006305 -- 316006305 -- 216006305 -- 386006305 -- 796006305 -- 266000105 -- 896006305 -- 4 Gross investment (5 plus 11) 155090005 -- 145090005 -- 315090005 -- 215090005 -- 385090005 -- 795090005 -- 265090005 -- 895090005 -- 9070050055 Capital expenditures 155050005 -- 145050005 -- 315050005 -- 215050005 -- 385050005 -- 795019005 -- 265420005 -- 895050005 -- 9060001056 Consumer durables 155111003 -- -- -- -- -- -- -- 155111003 -- -- -- -- -- 155111003 -- -- 7 Residential 155012005 -- 145012005 -- 315012065 -- 215012063 -- 385012005 -- 125012063 -- -- -- 885012005 -- -- 8 Nonresidential 165013005 -- 145013005 -- 315013005 -- 215013005 -- 385013005 -- 795013005 -- -- -- 885013005 -- -- 9 Inventory change -- -- 145020005 -- -- -- -- -- 145020005 -- -- -- -- -- 145020005 -- -- 10 Nonproduced nonfinancial assets 155420003 -- 105420005 -- 315420003 -- 215420003 -- 385420005 -- -- -- 265420005 -- -- -- -- 11 Net lending (+) or net borrowing (-) 155000005 -- 145000005 -- 315000005 -- 215000005 -- 385000005 -- 795000005 -- 265000005 -- 895000005 -- 90500000512 Net acquisition of financial assets 154090005 -- 144090005 -- 314090005 -- 214090005 -- 384090005 -- 794090005 -- 264090005 -- 894090005 -- -- 13 Net increase in liabilities and equity -- 154190005 -- 144194005 -- 314190005 -- 214190005 -- 384194005 -- 794194005 -- 264194005 -- 894194005 -- 14 U.S. official reserve assets -- -- -- -- 313011005 313111303 -- -- 313011005 313111303 713011005 -- 263011005 263111005 893011005 893111005 -- 15 SDR certificates -- -- -- -- -- 713014003 -- -- -- 713014003 713014003 -- -- -- 713014003 713014003 -- 16 Treasury currency -- -- -- -- -- 313112003 -- -- -- 313112003 713012003 -- -- -- 713012003 313112003 90301200517 Foreign deposits 153091003 -- 103091003 -- -- -- -- -- 383091005 -- 793091005 -- -- 263191005 893091005 263191005 90309100518 Interbank claims -- -- -- -- -- -- -- -- -- -- 794010005 794110005 264016005 -- 894010005 794110005 90401000519 Checkable dep. and currency 153020005 -- 143020005 -- 313020005 -- 213020005 -- 383020005 -- 793020005 793120005 263020005 -- 893020005 793120005 90302000520 Time and savings deposits 153030005 -- 143030005 -- 313030003 -- 213030000 -- 383030005 -- 793030005 703130005 263030005 -- 703130005 703130005 -- 21 Money market fund shares 153034005 -- 143034005 -- -- -- 213034003 -- 383034005 -- 793034005 634090005 263034003 -- 634090005 634090005 -- 22 Fed. funds and security repos -- -- 102051003 -- -- -- 212051003 -- 382051005 -- 792050005 792150005 262051005 262151003 892050005 892150005 90205000523 Debt securities 154022005 163162003 144022005 104122005 314022005 314122005 214022005 213162005 384022005 384122005 794022005 794122005 264022005 264122005 894122005 894122005 -- 24 Open market paper -- -- 103069100 103169100 -- -- 213069103 -- 383069105 103169100 793069175 793169175 263069103 263169105 893169175 893169175 -- 25 Treasury securities 153061105 -- 143061105 -- -- 313161105 213061105 -- 383061105 313161105 793061105 -- 263061105 -- 313161105 313161105 -- 26 Agency- and GSE-backed sec. 153061705 -- 103061703 -- 313061703 313161705 213061703 -- 383061705 313161705 793061705 423161705 263061705 -- 893161705 893161705 -- 27 Municipal securities 153062005 163162003 143062005 103162000 -- -- 213062003 213162005 383062005 383162005 793062005 -- 263062003 -- 383162005 383162005 -- 28 Corporate and fgn. bonds 153063005 -- -- 103163003 313063763 -- 213063003 -- 383063005 103163003 793063005 793163005 263063005 263163005 893063005 893163005 -- 29 Loans 154023005 154123005 144023005 144123005 314023005 314123005 213065005 213169203 384023005 384123005 794023005 794123005 263069500 264123005 894123005 894123005 -- 30 Depository inst. loans n.e.c. -- 153168005 -- 143168005 -- -- -- -- -- 383168005 793068005 793168005 -- 263168005 793068005 793068005 -- 31 Other loans and advances 153069005 153169005 -- 143169005 313069005 313169003 -- 213169203 383069005 383169005 793069005 793169005 263069500 263169005 893169005 893169005 -- 32 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 123165005 -- -- 893065005 893065005 -- 33 Consumer credit 163066223 153166000 143066005 -- 313066220 -- -- -- 383066005 153166000 793066005 -- -- -- 153166000 153166000 -- 34 Corporate equities 153064105 -- 103064103 103164103 313064105 -- 213064103 -- 383064105 103164103 793064105 793164105 263064105 263164100 893064105 893064105 -- 35 Mutual fund shares 153064205 -- 103064203 -- -- -- 213064203 -- 383064205 -- 793064205 653164205 263064203 -- 653164205 653164205 -- 36 Trade credit 163070005 163170005 143070005 143170005 313070000 313170005 213070003 213170003 383070005 383170005 793070005 793170005 263070005 263170005 893070005 893170005 90307000537 Life insurance reserves 153040005 -- -- -- -- 313140003 -- -- 153040005 313140003 793040005 543140005 543141905 263140005 893140005 893140005 -- 38 Pension entitlements 153050005 -- -- -- -- -- -- -- 153050005 -- 543050005 583150005 543151905 263150005 893150005 893150005 -- 39 Taxes payable -- -- -- 143178005 313078000 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 90307800540 Equity in noncorp. business 152090205 -- -- 112090205 -- -- -- -- 152090205 112090205 -- 662090003 -- -- 152090205 152090205 -- 41 U.S. direct investment: debt -- -- 103092305 -- -- -- -- -- 103092305 -- 793092305 -- -- 263192305 263192305 263192305 -- 42 U.S. direct investment: equity -- -- 103092105 -- -- -- -- -- 103092105 -- 793092105 -- -- 263192101 263192101 263192101 -- 43 Foreign direct investment: debt -- -- -- 143192305 -- -- -- -- -- 143192305 -- 793192305 263092303 -- 263092303 263092303 -- 44 Foreign direct investment: equity -- -- -- 143192105 -- -- -- -- -- 143192105 -- 793192105 263092101 -- 263092101 263092101 -- 45 Miscellaneous 153090005 543077073 143090005 143190005 313090005 313190005 213093003 223073045 383090005 383190005 793090005 793190005 263090005 263190005 893090005 893190005 90309000546 Sector discrepancies (1 less 4) 157005005 -- 107005005 -- 317005005 -- 217005005 -- 387005005 -- 797005005 -- 267005005 -- 897005005 -- 907005005General Notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

3

Z.1, December 9, 2022 Financial Accounts Matrix--Levels for 2021

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

Households State Domestic Domestic Instrument

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

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

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

1 Total financial assets 118143.6 -- 32141.8 -- 3592.6 -- 4424.9 -- 158303.0 -- 135454.4 -- 47446.0 -- 341203.4 -- -3679.82 Total liabilities and equity -- 18358.9 -- 111723.5 -- 28065.3 -- 7936.0 -- 166083.7 -- 141452.9 -- 29987.0 -- 337523.6 -- 3 Total liabilities -- 18358.9 -- 33549.5 -- 28065.3 -- 7936.0 -- 87909.7 -- 122960.5 -- 8215.3 -- 219085.5 -- 4 U.S. official reserve assets -- -- -- -- 219.9 160.8 -- -- 219.9 160.8 31.2 -- 160.8 240.1 411.9 400.9 -11.05 SDR certificates -- -- -- -- -- 5.2 -- -- -- 5.2 5.2 -- -- -- 5.2 5.2 -- 6 Treasury currency -- -- -- -- -- 23.0 -- -- -- 23.0 50.8 -- -- -- 50.8 23.0 -27.87 Foreign deposits 48.2 -- 158.8 -- -- -- -- -- 207.0 -- 19.4 -- -- 857.2 226.4 857.2 630.88 Interbank claims -- -- -- -- -- -- -- -- -- -- 3747.5 3951.5 219.8 -- 3967.2 3951.5 -15.79 Checkable dep. and currency 4280.2 -- 2353.6 -- 410.1 -- 345.6 -- 7389.5 -- 758.8 9359.0 1209.1 -- 9357.4 9359.0 1.610 Time and savings deposits 11215.9 -- 1540.6 -- 2.4 -- 382.4 -- 13141.3 -- 604.3 14438.3 692.7 -- 14438.3 14438.3 -- 11 Money market fund shares 2803.3 -- 932.6 -- -- -- 55.3 -- 3791.2 -- 1256.5 5205.5 157.7 -- 5205.5 5205.5 -- 12 Fed. Funds and security repos -- -- 25.1 -- -- -- 189.2 -- 214.4 -- 4655.4 4681.9 1365.4 1173.0 6235.2 5854.9 -380.313 Debt securities 2883.4 200.1 464.7 7492.7 0.5 25304.5 2151.8 3251.6 5500.4 36248.9 38275.3 15764.6 13606.6 4232.4 57382.3 56245.8 -1136.414 Open market paper -- -- 253.0 138.2 -- -- 81.1 -- 334.1 138.2 616.9 529.4 138.3 421.7 1089.4 1089.4 -- 15 Treasury securities 590.9 -- 162.1 -- -- 25284.7 1440.7 -- 2193.7 25284.7 15700.9 -- 7747.7 -- 25642.3 25284.7 -357.616 Agency- and GSE-backed sec. 255.2 -- 28.6 -- 0.0 19.8 415.3 -- 699.1 19.8 8844.1 10679.4 1250.3 -- 10793.5 10699.1 -94.317 Municipal securities 1806.0 200.1 21.0 615.0 -- -- 22.2 3251.6 1849.3 4066.7 2469.5 -- 110.4 -- 4429.2 4066.7 -362.518 Corporate and fgn. bonds 231.3 -- -- 6739.4 0.5 -- 192.4 -- 424.2 6739.4 10643.8 4555.8 4359.9 3810.7 15427.9 15106.0 -321.919 Loans 1350.7 17737.1 145.7 11182.7 2104.4 0.0 269.0 22.6 3869.8 28942.3 27255.6 2304.0 1026.1 905.2 32151.5 32151.5 -- 20 Depository inst. loans n.e.c. -- 423.8 -- 2642.5 -- -- -- -- -- 3066.4 4345.0 426.1 -- 852.6 4345.0 4345.0 -- 21 Other loans and advances 1241.7 869.8 -- 2740.0 534.9 0.0 -- 22.6 1776.6 3632.3 2512.8 1630.5 1026.1 52.6 5315.5 5315.5 -- 22 Mortgages 86.6 12012.6 109.8 5800.2 133.1 0.0 269.0 -- 598.6 17812.8 17461.6 247.4 -- -- 18060.2 18060.2 -- 23 Consumer credit 22.4 4430.8 35.8 -- 1436.4 -- -- -- 1494.6 4430.8 2936.2 -- -- -- 4430.8 4430.8 -- 24 Corporate equities 31940.7 -- 3124.4 51408.0 33.2 -- 306.4 -- 35404.7 51408.0 31165.8 16624.9 13484.4 12022.1 80054.9 80054.9 -- 25 Mutual fund shares 12755.8 -- 446.6 -- -- -- 128.0 -- 13330.4 -- 7716.4 22208.8 1162.0 -- 22208.8 22208.8 -- 26 Trade credit 291.5 383.7 5325.2 3789.5 95.5 513.0 268.4 1155.2 5980.6 5841.4 412.1 487.0 511.1 84.8 6903.8 6413.2 -490.627 Life insurance reserves 1944.9 -- -- -- -- 52.6 -- -- 1944.9 52.6 556.1 2344.0 0.2 104.6 2501.2 2501.2 -- 28 Pension entitlements 31677.5 -- -- -- -- -- -- -- 31677.5 -- 380.0 31888.0 0.7 170.2 32058.2 32058.2 -- 29 Taxes payable -- -- -- 431.9 473.1 -- 201.7 -- 674.8 431.9 -- 139.8 -- -- 674.8 571.8 -103.130 Equity in noncorp. business 15531.1 -- -- 15425.0 -- -- -- -- 15531.1 15425.0 -- 106.1 -- -- 15531.1 15531.1 -- 31 U.S. direct investment: debt -- -- 13.4 -- -- -- -- -- 13.4 -- 2.8 -- -- 16.3 16.3 16.3 -- 32 U.S. direct investment: equity -- -- 8044.9 -- -- -- -- -- 8044.9 -- 1704.7 -- -- 9749.7 9749.7 9749.7 -- 33 Foreign direct investment: debt -- -- -- 335.5 -- -- -- -- -- 335.5 -- 170.5 505.9 -- 505.9 505.9 -- 34 Foreign direct investment: equity -- -- -- 11341.0 -- -- -- -- -- 11341.0 -- 1761.4 13102.4 -- 13102.4 13102.4 -- 35 Miscellaneous 1420.3 38.1 9566.2 10317.2 253.7 2006.2 127.0 3506.6 11367.1 15868.1 16856.5 10017.6 241.0 431.6 28464.6 26317.3 -2147.3General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 24), equity in noncorporate business (line 30), and foreign direct investment in the U.S. (FDI) equity (line 34) for domestic sectors or U.S. direct investment abroad equity for the rest of the world (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
Summary

4 Z.1, December 9, 2022 Financial Accounts Matrix--Levels

Households State Domestic Domestic Instrument

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

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

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

1 Total financial assets 154090005 -- 144090005 -- 314090005 -- 214090005 -- 384090005 -- 794090005 -- 264090005 -- 894090005 -- 9070050152 Total liabilities and equity -- 154190005 -- 144194005 -- 314190005 -- 214190005 -- 384194005 -- 794194005 -- 264194005 -- 894194005 -- 3 Total liabilities -- 154190005 -- 144190005 -- 314190005 -- 214190005 -- 384190005 -- 794190005 -- 264190005 -- 894190005 -- 4 U.S. official reserve assets -- -- -- -- 313011005 313111303 -- -- 313011005 313111303 713011005 -- 263011005 263111005 893011005 893111005 9030110055 SDR certificates -- -- -- -- -- 713014003 -- -- -- 713014003 713014003 -- -- -- 713014003 713014003 -- 6 Treasury currency -- -- -- -- -- 313112003 -- -- -- 313112003 713012003 -- -- -- 713012003 313112003 9030120057 Foreign deposits 153091003 -- 103091003 -- -- -- -- -- 383091005 -- 793091005 -- -- 263191005 893091005 263191005 9030910058 Interbank claims -- -- -- -- -- -- -- -- -- -- 794010005 794110005 264016005 -- 894010005 794110005 9040100059 Checkable dep. and currency 153020005 -- 143020005 -- 313020005 -- 213020005 -- 383020005 -- 793020005 793120005 263020005 -- 893020005 793120005 90302000510 Time and savings deposits 153030005 -- 143030005 -- 313030003 -- 213030000 -- 383030005 -- 793030005 703130005 263030005 -- 703130005 703130005 -- 11 Money market fund shares 153034005 -- 143034005 -- -- -- 213034003 -- 383034005 -- 793034005 634090005 263034003 -- 634090005 634090005 -- 12 Fed. Funds and security repos -- -- 102051003 -- -- -- 212051003 -- 382051005 -- 792050005 792150005 262051005 262151003 892050005 892150005 90205000513 Debt securities 154022005 163162003 144022005 104122005 314022005 314122005 214022005 213162005 384022005 384122005 794022005 794122005 264022005 264122005 894022005 894122005 90402200514 Open market paper -- -- 103069100 103169100 -- -- 213069103 -- 383069105 103169100 793069175 793169175 263069103 263169105 893169175 893169175 -- 15 Treasury securities 153061105 -- 143061105 -- -- 313161105 213061105 -- 383061105 313161105 793061105 -- 263061105 -- 893061105 313161105 90306110316 Agency- and GSE-backed sec. 153061705 -- 103061703 -- 313061703 313161705 213061703 -- 383061705 313161705 793061705 423161705 263061705 -- 893061705 893161705 90306170317 Municipal securities 153062005 163162003 143062005 103162000 -- -- 213062003 213162005 383062005 383162005 793062005 -- 263062003 -- 893062005 383162005 90306200318 Corporate and fgn. bonds 153063005 -- -- 103163003 313063763 -- 213063003 -- 383063005 103163003 793063005 793163005 263063005 263163005 893063005 893163005 90306300319 Loans 154023005 154123005 144023005 144123005 314023005 314123005 213065005 213169203 384023005 384123005 794023005 794123005 263069500 264123005 894123005 894123005 -- 20 Depository inst. loans n.e.c. -- 153168005 -- 143168005 -- -- -- -- -- 383168005 793068005 793168005 -- 263168005 793068005 793068005 -- 21 Other loans and advances 153069005 153169005 -- 143169005 313069005 313169003 -- 213169203 383069005 383169005 793069005 793169005 263069500 263169005 893169005 893169005 -- 22 Mortgages 153065005 153165005 143065005 143165005 313065005 313165403 213065005 -- 383065005 383165005 793065005 123165005 -- -- 893065005 893065005 -- 23 Consumer credit 163066223 153166000 143066005 -- 313066220 -- -- -- 383066005 153166000 793066005 -- -- -- 153166000 153166000 -- 24 Corporate equities 153064105 -- 103064103 103164103 313064105 -- 213064103 -- 383064105 103164103 793064105 793164105 263064105 263164100 893064105 893064105 -- 25 Mutual fund shares 153064205 -- 103064203 -- -- -- 213064203 -- 383064205 -- 793064205 653164205 263064203 -- 653164205 653164205 -- 26 Trade credit 163070005 163170005 143070005 143170005 313070000 313170005 213070003 213170003 383070005 383170005 793070005 793170005 263070005 263170005 893070005 893170005 90307000527 Life insurance reserves 153040005 -- -- -- -- 313140003 -- -- 153040005 313140003 793040005 543140005 543141905 263140005 893140005 893140005 -- 28 Pension entitlements 153050005 -- -- -- -- -- -- -- 153050005 -- 543050005 583150005 543151905 263150005 893150005 893150005 -- 29 Taxes payable -- -- -- 143178005 313078000 -- 213078005 -- 383078005 143178005 -- 793178005 -- -- 893078005 893178005 90307800530 Equity in noncorp. business 152090205 -- -- 112090205 -- -- -- -- 152090205 112090205 -- 662090003 -- -- 152090205 152090205 -- 31 U.S. direct investment: debt -- -- 103092305 -- -- -- -- -- 103092305 -- 793092305 -- -- 263192305 263192305 263192305 -- 32 U.S. direct investment: equity -- -- 103092105 -- -- -- -- -- 103092105 -- 793092105 -- -- 263192101 263192101 263192101 -- 33 Foreign direct investment: debt -- -- -- 143192305 -- -- -- -- -- 143192305 -- 793192305 263092303 -- 263092303 263092303 -- 34 Foreign direct investment: equity -- -- -- 143192105 -- -- -- -- -- 143192105 -- 793192105 263092101 -- 263092101 263092101 -- 35 Miscellaneous 153090005 543077073 143090005 143190005 313090005 313190005 213093003 223073045 383090005 383190005 793090005 793190005 263090005 263190005 893090005 893190005 903090005General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 24), equity in noncorporate business (line 30), and foreign direct investment in the U.S. (FDI) equity (line 34) for domestic sectors or U.S. direct investment abroad equity for the rest of the world (line 32). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
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D.1 Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest

One-to-four-family Consumer Federal local financial of the

Total Total res. mortgages credit Total Corporate government governments sectors world

 FG384104005 FG154104005 FG153165105 FG153166000 FG144104005 FG104104005 FG314104005 FG214104005 FG794104005 FG264104005

1988 9.19 9.76 11.79 6.67 9.96 10.99 8.61 5.98 12.68 0.36

1989 7.50 9.38 10.94 6.30 6.27 7.30 7.63 5.31 10.28 -0.28

1990 6.56 6.83 8.85 1.87 3.62 5.38 10.99 5.00 8.58 5.06

1991 4.74 5.63 7.01 -1.07 -2.12 -2.10 11.18 9.23 6.87 2.74

1992 4.67 5.21 6.49 1.13 -0.30 0.60 10.92 1.53 8.09 4.50

1993 5.77 6.09 5.51 7.44 3.07 5.23 8.40 5.29 11.43 15.67

1994 5.20 7.53 5.56 15.23 5.41 7.10 5.11 -3.95 13.62 -2.99

1995 4.90 6.98 4.86 14.39 5.87 6.58 4.38 -5.49 11.90 15.90

1996 5.23 7.05 6.18 9.05 5.51 5.26 4.60 -1.96 13.04 14.19

1997 5.57 6.55 6.11 5.52 8.53 8.62 1.46 4.95 12.07 10.36

1998 6.74 8.04 8.08 7.22 11.68 11.01 -0.26 6.20 19.56 4.93

1999 6.70 9.38 9.35 7.80 10.36 9.41 -0.68 3.26 16.64 2.77

2000 4.78 8.82 8.65 11.36 8.95 8.03 -6.30 1.43 11.33 7.36

2001 5.77 8.62 10.55 8.65 4.80 3.28 1.35 8.80 10.98 -1.26

2002 6.70 9.82 13.26 5.56 2.22 -0.09 6.81 11.09 8.69 7.51

2003 7.83 12.32 14.49 5.30 1.15 0.13 9.50 8.32 11.19 1.73

2004 9.12 11.57 13.44 5.57 5.77 3.29 8.31 11.55 9.27 7.99

2005 8.74 10.75 13.76 4.52 8.00 5.37 6.61 6.63 8.97 7.82

2006 8.56 10.64 11.19 5.18 9.99 7.68 3.92 4.39 10.63 21.42

2007 8.17 7.14 7.20 6.11 12.54 11.71 4.66 6.32 13.50 15.44

2008 5.74 -0.04 0.74 1.31 5.77 4.10 21.44 1.40 4.22 -10.39

2009 3.65 0.43 0.88 -3.58 -3.94 -4.92 20.41 4.79 -9.73 14.53

2010 4.35 -0.61 -1.50 -1.10 -0.72 -0.87 18.53 2.86 -4.18 9.53

2011 3.63 0.13 -0.59 4.13 2.43 4.98 10.82 -1.01 -2.91 7.23

2012 4.72 0.53 -1.09 5.76 5.67 6.40 10.12 -0.05 -0.56 8.26

2013 4.20 2.35 -0.12 6.10 4.89 6.23 6.67 -0.17 1.89 8.82

2014 3.80 1.18 -0.05 7.09 6.79 6.80 5.37 -2.25 2.24 8.83

2015 4.37 2.25 1.27 7.05 7.03 7.85 5.02 0.48 1.66 -0.66

2016 4.35 3.10 2.06 6.95 5.10 3.31 5.56 1.02 2.64 1.28

2017 4.22 3.91 3.06 5.34 6.09 4.29 3.74 -0.03 2.53 11.66

2018 4.75 3.11 2.96 4.51 4.52 4.07 7.58 -1.24 1.70 6.55

2019 4.68 3.25 2.81 4.62 4.88 6.66 6.58 -0.05 2.75 1.82

2020 12.45 3.84 4.29 -0.29 9.20 10.37 24.06 2.93 6.25 2.43

2021 6.31 7.38 7.69 5.88 4.96 5.45 7.13 2.17 5.57 14.66

2017 -- Q1 2.42 3.64 3.41 5.38 5.82 3.95 -0.66 -2.18 2.70 9.59

 Q2 4.93 3.90 2.80 4.53 6.97 5.84 5.18 -0.57 3.42 7.26

 Q3 4.54 2.75 2.74 4.62 5.57 3.69 6.25 -0.45 4.40 7.82

 Q4 4.70 5.13 3.18 6.43 5.38 3.32 4.02 3.08 -0.47 19.08

2018 -- Q1 5.68 3.29 2.76 4.81 4.61 4.34 10.38 -2.65 1.28 10.56

 Q2 4.40 3.15 3.26 2.99 3.37 2.32 7.18 0.12 0.65 5.88

 Q3 4.50 3.25 3.29 4.74 5.00 4.83 5.92 0.31 1.96 6.82

 Q4 4.04 2.63 2.42 5.19 4.61 4.22 6.01 -2.74 2.88 2.62

2019 -- Q1 4.32 2.11 2.36 4.63 6.86 9.84 5.17 -2.20 1.83 -4.88

 Q2 3.78 4.05 3.29 4.01 4.17 5.48 4.17 -1.80 3.58 9.23

 Q3 6.33 3.16 3.00 4.91 5.85 8.29 10.42 0.79 4.58 1.78

 Q4 3.98 3.54 2.47 4.62 2.31 2.45 5.95 3.02 0.92 0.89

2020 -- Q1 10.08 3.68 3.50 1.08 19.10 27.40 9.26 0.96 29.81 -9.11

 Q2 27.37 -0.38 3.04 -6.75 15.66 15.68 64.61 3.53 -10.82 4.60

 Q3 4.76 5.74 5.58 2.38 0.27 -2.87 7.48 5.57 -0.20 0.67

 Q4 5.80 6.14 4.77 2.21 0.92 0.48 9.91 1.55 6.71 13.50

2021 -- Q1 5.22 6.85 5.58 4.18 4.90 5.31 4.55 3.40 5.90 22.89

 Q2 7.19 7.40 8.01 6.51 2.39 2.33 11.21 3.22 5.21 8.09

 Q3 3.44 6.42 8.09 5.38 5.23 7.13 0.08 2.97 3.96 19.02

 Q4 8.82 8.08 8.23 6.94 6.96 6.61 12.06 -0.98 6.76 6.20

2022 -- Q1 8.34 8.25 8.63 8.41 7.84 8.07 10.22 -2.83 13.26 8.79

 Q2 6.49 7.37 8.62 8.66 7.74 7.95 5.56 1.61 7.33 7.79

 Q3 4.86 6.26 6.61 6.96 5.33 5.29 4.19 -0.58 6.59 7.22

1. Debt securities and loans. Data shown are on an end-of-period basis.
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D.2 Borrowing by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest 

One-to-four-family Consumer Federal local financial of the

Total Total res. mortgages credit Total Corporate government governments sectors world

 FA384104005 FA154104005 FA153165105 FA153166000 FA144104005 FA104104005 FA314104005 FA214104005 FA794104005 FA264104005

1988 823.4 274.9 215.6 46.6 310.3 225.5 187.9 50.4 247.6 1.1

1989 733.3 290.9 224.9 47.0 214.1 165.3 180.9 47.4 226.3 -1.0

1990 690.7 231.3 200.0 15.1 132.1 132.0 280.2 47.1 210.8 17.9

1991 532.9 205.2 174.5 -8.8 -80.0 -54.2 316.6 91.2 183.4 10.1

1992 549.8 200.7 173.0 9.2 -11.1 15.2 343.8 16.5 230.8 16.9

1993 711.5 247.1 156.5 61.4 113.3 133.2 293.2 57.9 354.1 62.0

1994 678.3 324.0 166.8 135.0 206.4 191.0 193.5 -45.5 470.9 -14.5

1995 672.9 323.0 154.0 147.0 236.5 190.2 174.2 -60.8 468.5 75.3

1996 755.3 349.0 205.2 105.7 235.7 162.6 191.1 -20.5 574.8 85.5

1997 846.2 347.9 216.1 70.3 384.1 279.6 63.4 50.8 601.5 71.4

1998 1081.1 455.2 303.2 97.1 570.5 387.8 -11.4 66.8 1088.1 37.6

1999 1146.1 573.8 379.4 112.4 565.1 367.9 -30.1 37.3 1106.8 22.3

2000 873.9 590.0 383.5 176.5 542.0 346.1 -275.0 16.9 878.5 57.2

2001 1106.0 628.6 508.2 150.6 316.8 153.0 55.2 105.5 949.7 -10.5

2002 1357.0 777.5 706.2 105.2 152.9 -4.5 282.1 144.6 838.8 62.3

2003 1692.9 1070.8 874.1 105.9 80.9 6.1 420.7 120.5 1174.3 16.3

2004 2127.8 1131.6 929.4 117.2 412.2 158.2 402.8 181.2 1069.8 91.4

2005 2294.3 1175.9 1081.2 100.4 606.8 268.3 346.9 164.7 1132.7 98.9

2006 2443.4 1289.7 1000.3 120.1 818.2 403.9 219.1 116.4 1456.4 283.9

2007 2532.7 958.0 715.5 150.2 1129.5 663.5 270.4 174.8 2042.8 251.7

2008 1923.7 -5.1 79.1 34.3 585.0 259.8 1302.5 41.3 730.0 -203.6

2009 1287.4 60.8 92.7 -94.6 -421.9 -324.4 1505.8 142.8 -1744.4 227.0

2010 1576.4 -85.5 -156.3 -28.2 -73.2 -53.9 1645.9 89.2 -670.6 187.7

2011 1368.4 17.6 -58.7 109.4 244.5 302.7 1138.7 -32.4 -437.5 162.5

2012 1836.4 72.8 -107.0 158.7 584.5 408.6 1180.6 -1.5 -81.5 204.0

2013 1702.6 320.5 -11.8 177.6 530.2 420.7 857.3 -5.4 270.1 244.7

2014 1599.7 163.4 -4.8 219.1 771.8 487.2 735.9 -71.5 324.7 255.8

2015 1907.9 315.9 119.5 233.5 852.5 601.1 724.6 14.9 245.6 -21.0

2016 1975.1 440.4 196.0 236.2 660.1 271.7 842.7 31.9 391.4 39.5

2017 1996.4 570.7 295.7 194.3 828.2 364.1 598.6 -1.1 381.5 371.1

2018 2349.2 471.5 294.2 172.7 658.6 365.4 1258.1 -39.0 262.3 244.3

2019 2439.2 507.1 286.5 185.2 758.9 645.1 1174.9 -1.6 431.0 70.7

2020 6790.9 618.1 449.2 -12.0 1500.3 1071.2 4581.2 91.2 1005.3 103.3

2021 3869.1 1233.4 839.2 246.0 882.9 621.0 1683.4 69.4 951.9 660.9

2017 -- Q1 1148.2 531.2 329.0 195.7 791.5 335.5 -105.8 -68.7 406.8 305.2

 Q2 2350.5 574.7 272.2 167.0 965.8 503.9 827.9 -17.9 518.9 240.6

 Q3 2192.3 408.6 268.3 172.2 786.0 323.4 1011.9 -14.2 672.5 267.5

 Q4 2294.6 768.0 313.4 242.3 769.5 293.8 660.6 96.4 -72.1 671.1

2018 -- Q1 2809.7 498.6 274.3 184.2 670.9 389.9 1723.7 -83.5 196.9 393.9

 Q2 2205.3 480.5 325.9 116.0 497.0 210.4 1224.1 3.8 100.4 223.8

 Q3 2295.5 499.9 331.4 185.1 758.4 457.0 1027.5 9.7 303.1 258.9

 Q4 2086.4 407.1 245.2 205.5 708.0 404.5 1057.1 -85.8 448.8 100.8

2019 -- Q1 2250.0 328.6 240.7 185.4 1066.7 952.3 923.1 -68.5 286.4 -189.9

 Q2 1992.8 634.4 337.8 162.7 659.3 543.2 754.8 -55.8 563.2 362.6

 Q3 3364.7 500.4 310.6 200.9 935.5 833.6 1904.6 24.3 726.7 73.0

 Q4 2149.2 564.9 256.8 191.7 373.9 251.2 1116.9 93.5 147.6 37.1

2020 -- Q1 5500.8 592.8 367.1 45.2 3115.3 2829.8 1762.8 29.9 4796.9 -386.9

 Q2 15309.8 -61.4 321.4 -284.2 2674.9 1730.0 12586.2 110.2 -1870.5 186.2

 Q3 2846.5 931.1 593.4 98.6 48.2 -329.2 1691.9 175.3 -33.7 28.5

 Q4 3506.4 1010.1 514.7 92.1 162.9 54.3 2283.8 49.6 1128.5 585.6

2021 -- Q1 3201.4 1144.5 608.6 174.8 872.4 605.1 1075.6 108.9 1008.8 1032.0

 Q2 4469.8 1256.9 886.6 275.3 431.4 269.0 2677.5 104.0 903.7 376.3

 Q3 2175.2 1110.5 913.5 231.3 948.9 827.9 18.9 96.9 695.5 922.5

 Q4 5629.8 1421.6 948.1 302.5 1278.7 781.9 2961.7 -32.1 1199.3 312.8

2022 -- Q1 5437.6 1479.1 1014.2 372.5 1464.9 969.4 2586.3 -92.7 2395.4 451.8

 Q2 4317.7 1342.0 1027.2 391.7 1480.4 980.9 1443.1 52.2 1368.8 384.8

 Q3 3284.3 1162.4 804.8 321.5 1039.7 666.6 1101.2 -18.9 1253.6 343.9

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

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 Households Business State and Domestic Rest

One-to-four-family Consumer Federal local financial of the

Total Total res. mortgages credit Total Corporate government governments sectors world

 LA384104005 LA154104005 LA153165105 LA153166000 LA144104005 LA104104005 LA314104005 LA214104005 LA794104005 LA264104005

1988 9777.6 3100.6 2054.8 745.2 3414.5 2265.2 2369.6 893.0 2200.9 351.9

1989 10527.9 3384.0 2260.1 809.3 3653.1 2455.2 2550.5 940.4 2455.7 354.8

1990 11245.9 3644.4 2489.3 824.4 3783.3 2585.4 2830.8 987.4 2669.7 368.7

1991 11775.5 3853.2 2667.4 815.6 3696.4 2526.6 3147.4 1078.6 2852.0 375.5

1992 12328.5 4053.9 2840.4 824.8 3688.4 2545.0 3491.1 1095.1 3098.3 395.5

1993 13054.8 4303.3 2999.2 886.2 3814.1 2690.7 3784.3 1153.0 3457.8 484.8

1994 13739.4 4627.3 3165.9 1021.2 4026.9 2888.0 3977.8 1107.5 3936.8 473.4

1995 14428.1 4950.2 3319.9 1168.2 4279.2 3094.0 4152.0 1046.7 4408.2 602.5

1996 15185.0 5313.3 3538.1 1273.9 4502.4 3244.2 4343.1 1026.2 4983.0 689.1

1997 16029.2 5661.2 3754.2 1344.2 4884.5 3521.7 4406.5 1076.9 5564.4 763.6

1998 17110.2 6116.4 4057.4 1441.3 5454.9 3909.5 4395.1 1143.8 6652.5 806.0

1999 18288.4 6687.9 4434.5 1553.6 6054.5 4311.7 4365.0 1181.0 7757.0 776.7

2000 19172.2 7287.8 4816.8 1741.3 6596.5 4657.8 4090.0 1197.9 8647.6 837.1

2001 20261.2 7916.4 5324.9 1891.8 6896.3 4793.9 4145.2 1303.4 9653.2 829.5

2002 21618.2 8693.8 6031.1 1997.0 7049.2 4789.4 4427.3 1447.9 10492.0 944.5

2003 23343.4 9782.8 6914.9 2102.9 7144.2 4809.6 4848.0 1568.4 11541.6 1144.4

2004 26255.1 10939.6 7859.1 2220.1 7580.4 4991.9 5250.9 2484.2 12626.2 1265.4

2005 28536.4 12115.6 8940.4 2320.6 8187.2 5260.1 5584.8 2648.8 13704.4 1325.7

2006 30997.4 13420.8 9940.3 2456.7 9007.5 5665.1 5803.9 2765.2 15128.5 1630.2

2007 33506.8 14350.6 10625.0 2609.5 10141.9 6335.1 6074.3 2940.0 17282.0 1959.7

2008 35292.0 14218.7 10577.3 2643.8 10715.2 6589.9 7376.8 2981.3 17931.2 1562.1

2009 36260.7 14056.6 10441.3 2555.0 10197.4 6181.1 8882.6 3124.0 16052.0 1968.9

2010 37678.6 13865.1 9992.3 2646.8 10065.7 6079.0 10528.6 3219.3 15022.8 2247.7

2011 38891.6 13734.5 9785.5 2756.2 10303.0 6381.8 11667.3 3186.8 14506.4 2469.8

2012 40549.2 13666.8 9537.1 2912.9 10849.2 6756.7 12847.8 3185.4 14288.7 2775.5

2013 42147.3 13899.1 9437.0 3090.5 11363.1 7165.9 13705.1 3179.9 14497.9 2897.5

2014 43699.6 14017.6 9387.3 3309.5 12132.5 7653.6 14441.1 3108.4 14803.0 3207.8

2015 45423.9 14190.1 9492.8 3400.2 12944.8 8219.2 15165.6 3123.3 14818.2 3101.1

2016 47362.5 14600.5 9658.8 3636.4 13598.5 8486.3 16008.3 3155.2 15081.8 3182.7

2017 49469.3 15145.4 9928.8 3830.8 14562.8 8988.2 16606.9 3154.1 15426.9 3730.0

2018 52128.9 15602.0 10204.4 4007.0 15546.7 9680.2 17865.0 3115.1 15673.9 3891.1

2019 54553.2 16093.3 10475.1 4192.2 16306.4 10327.1 19039.9 3113.5 16094.1 4248.6

2020 61340.0 16708.0 10916.1 4184.9 17806.2 11398.4 23621.1 3204.8 17093.4 4508.7

2021 65191.2 17937.1 11751.1 4430.8 18675.4 12005.9 25304.5 3274.2 18068.6 5137.5

2017 -- Q1 47707.3 14726.7 9734.4 3685.4 13860.7 8635.0 15981.8 3138.0 15157.9 3313.9

 Q2 48286.9 14862.8 9794.9 3727.1 14101.7 8760.9 16188.8 3133.5 15283.6 3421.4

 Q3 48828.5 14958.9 9855.9 3770.2 14297.8 8841.8 16441.8 3130.0 15448.1 3518.3

 Q4 49469.3 15145.4 9928.8 3830.8 14562.8 8988.2 16606.9 3154.1 15426.9 3730.0

2018 -- Q1 50167.9 15266.5 9993.8 3876.8 14730.3 9085.7 17037.9 3133.2 15474.0 3806.3

 Q2 51036.5 15377.7 10070.3 3901.8 15180.7 9464.8 17343.9 3134.2 15492.1 3795.5

 Q3 51612.1 15504.8 10147.7 3955.7 15370.0 9579.1 17600.8 3136.6 15564.6 3853.0

 Q4 52128.9 15602.0 10204.4 4007.0 15546.7 9680.2 17865.0 3115.1 15673.9 3891.1

2019 -- Q1 52687.8 15679.0 10259.4 4053.4 15815.0 9920.1 18095.8 3098.0 15739.0 3929.9

 Q2 53182.0 15833.8 10340.1 4094.1 15979.5 10055.9 18284.5 3084.1 15880.3 4114.9

 Q3 54019.5 15955.5 10414.4 4144.3 16213.2 10264.3 18760.7 3090.1 16059.7 4175.4

 Q4 54553.2 16093.3 10475.1 4192.2 16306.4 10327.1 19039.9 3113.5 16094.1 4248.6

2020 -- Q1 55930.2 16243.5 10564.2 4208.2 17085.1 11034.6 19480.6 3121.0 17291.2 4047.1

 Q2 59755.7 16226.3 10642.7 4137.2 17753.7 11467.1 22627.1 3148.5 16822.1 4268.7

 Q3 60465.0 16457.0 10789.0 4161.8 17765.6 11384.8 23050.1 3192.4 16812.2 4338.5

 Q4 61340.0 16708.0 10916.1 4184.9 17806.2 11398.4 23621.1 3204.8 17093.4 4508.7

2021 -- Q1 62139.2 16993.0 11067.1 4228.5 18024.2 11549.6 23890.0 3232.0 17345.0 4654.5

 Q2 63255.6 17306.2 11287.8 4297.4 18132.0 11616.9 24559.3 3258.0 17570.5 4850.0

 Q3 63801.4 17582.9 11515.3 4355.2 18372.2 11826.8 24564.1 3282.2 17735.7 5043.7

 Q4 65191.2 17937.1 11751.1 4430.8 18675.4 12005.9 25304.5 3274.2 18068.6 5137.5

2022 -- Q1 66549.7 18220.0 11917.7 4524.0 19127.7 12334.4 25951.1 3251.0 18667.2 4939.1

 Q2 67642.9 18554.6 12173.6 4621.9 19512.4 12594.4 26311.8 3264.1 19009.2 4761.8

 Q3 68463.1 18844.3 12374.0 4702.3 19772.3 12761.0 26587.1 3259.3 19322.4 4666.7

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

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL892090005 U.S. net wealth (1) 115337.9 136706.6 121444.5 127876.2 130726.9 136706.6 137526.9 131583.8 131464.0 1

 2 LM152010005 Households’ direct holdings of nonfinancial assets 43580.9 50337.4 44957.3 46813.0 48629.2 50337.4 52174.4 53809.3 54791.9 2

 3 LM155035005 Real estate 36756.7 42479.8 37985.0 39481.9 41024.8 42479.8 44056.3 45540.9 46360.6 3

 4 LM165015205 Equipment (nonprofits) 482.2 517.4 492.7 493.4 504.1 517.4 532.2 548.8 561.9 4

 5 LM165013765 Intellectual property products (nonprofits) 207.5 218.6 208.8 211.6 215.1 218.6 221.9 225.9 230.1 5

 6 LM155111005 Consumer durable goods 6134.4 7121.6 6270.8 6626.1 6885.2 7121.6 7364.1 7493.6 7639.3 6

 7 LM112010005 Nonfin. noncorporate businesses nonfinancial assets 15577.7 18284.3 15956.6 16640.6 17595.8 18284.3 18745.2 19369.3 19779.4 7

 8 LM115035005 Real estate 14100.0 16651.7 14436.3 15096.7 16016.9 16651.7 17003.4 17517.5 17834.9 8

 9 LM115015205 Equipment 913.3 1000.4 937.9 944.1 969.0 1000.4 1087.7 1179.5 1264.0 9

 10 LM115013765 Intellectual property products 322.4 347.9 325.6 331.2 339.1 347.9 358.7 371.2 383.2 10

 11 LM115020005 Inventories 242.0 284.3 256.8 268.6 270.8 284.3 295.4 301.2 297.3 11

 12 LM662090003 Fin. noncorporate businesses nonfinancial assets (2) 90.3 106.1 93.8 98.0 99.6 106.1 94.9 93.9 97.5 12

 13 LM882010405 Domestic corporations’ nonfinancial assets 53978.6 67189.7 58240.7 62545.4 62463.7 67189.7 64648.4 54236.1 52767.7 13

 14 LM102010405 Nonfinancial corporations’ nonfinancial assets (3) 50888.9 61297.3 53671.3 57445.5 57308.8 61297.3 57910.4 48012.1 46141.0 14

 15 LM792010405 Financial corporations’ nonfinancial assets (3) 3089.7 5892.3 4569.4 5099.8 5154.9 5892.3 6738.0 6224.0 6626.7 15

 16 LM315015005 Federal government nonfinancial assets (4) 3756.8 4034.8 3805.6 3882.6 3947.4 4034.8 4140.0 4255.8 4321.1 16

 17 LM315015605 Structures 1724.4 1882.7 1750.9 1798.0 1834.6 1882.7 1943.2 2010.8 2048.3 17

 18 LM315013265 Equipment 844.3 892.4 854.3 865.5 878.0 892.4 912.8 935.5 937.7 18

 19 LM315013765 Intellectual property products 1188.1 1259.6 1200.4 1219.1 1234.8 1259.6 1284.0 1309.5 1335.1 19

 20 LM212010095 State and local governments nonfinancial assets (4) 12556.9 14213.3 12873.6 13311.4 13698.3 14213.3 14733.4 15310.5 15722.0 20

 21 LM215015605 Structures 12133.4 13757.0 12445.4 12875.5 13251.5 13757.0 14267.6 14835.2 15238.6 21

 22 LM215013265 Equipment 268.4 288.9 271.4 276.2 283.6 288.9 295.8 302.8 307.7 22

 23 LM215013765 Intellectual property products 155.1 167.4 156.9 159.8 163.2 167.4 170.0 172.6 175.7 23

 24 FL882090265 Net U.S. financial claims on the rest of the world -14203.3 -17459.0 -14483.1 -15414.8 -15707.1 -17459.0 -17009.4 -15491.1 -16015.7 24

 25 FL264194005 U.S. financial claims on the rest of the world 26313.2 29987.0 27349.5 28885.1 29112.6 29987.0 28587.2 25501.3 23948.6 25

 26 LM263164100 U.S. holdings of foreign corporate equities 10615.0 12022.1 11098.2 11810.5 11789.4 12022.1 11420.2 9935.5 9180.4 26

 27 FL264194035 Other U.S. financial claims 15698.2 17965.0 16251.3 17074.6 17323.2 17965.0 17167.0 15565.7 14768.2 27

 28 FL264090005 Less: Foreign financial claims on U.S. 40516.5 47446.0 41832.6 44299.9 44819.8 47446.0 45596.6 40992.3 39964.3 28

 29 LM263064105 Foreign holdings of U.S. corporate equities 10673.4 13484.4 11409.0 12336.0 12378.2 13484.4 12616.7 10602.7 10281.4 29

 30 FL264090035 Other foreign financial claims 29843.1 33961.6 30423.6 31963.8 32441.5 33961.6 32979.9 30389.6 29682.9 30

 Memo:

 31 FL892090005 A. U.S. net wealth (line 1) 115337.9 136706.6 121444.5 127876.2 130726.9 136706.6 137526.9 131583.8 131464.0 31

 32 FC892090005 Change in U.S. net wealth 10923.4 21368.7 6106.6 6431.7 2850.7 5979.7 820.3 -5943.1 -119.9 32

 33 PC892090005 Percent change in U.S. net wealth 10.46 18.53 5.29 5.30 2.23 4.57 0.60 -4.32 -0.09 33

 34 FL152090005 B. Household net worth (5) 131344.3 150122.1 136219.6 142158.8 145305.9 150122.1 149953.8 143670.4 143278.4 34

 35 FC152090005 Change in household net worth 14805.0 18777.9 4875.3 5939.2 3147.1 4816.3 -168.3 -6283.5 -392.0 35

 36 PC152090005 Percent change in household net worth 12.70 14.30 3.71 4.36 2.21 3.31 -0.11 -4.19 -0.27 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) Estimated as the market value of corporate equity, plus foreign direct investment (equity), plus total liabilities, less total financial assets.

(4) Excludes land and nonproduced nonfinancial assets.

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA086902005 Gross domestic product (GDP) 21060.5 23315.1 22313.9 23046.9 23550.4 24349.1 24740.5 25248.5 25699.0 1

 2 FA156901001 Personal consumption expenditures (2) 14116.2 15902.6 15131.5 15813.5 16147.3 16518.0 16874.8 17261.3 17517.1 2

 3 FA155011001 Durable goods 1646.8 2060.2 1990.9 2113.5 2035.0 2101.6 2183.9 2181.8 2198.6 3

 4 FA156901035 Nondurable goods 3023.3 3436.3 3274.4 3416.4 3482.2 3572.1 3659.3 3771.9 3792.8 4

 5 FA156901041 Services 9446.0 10406.1 9866.2 10283.6 10630.2 10844.3 11031.6 11307.7 11525.7 5

 6 FA835019905 Gross private domestic investment 3642.9 4113.5 3902.3 3943.4 4109.1 4499.2 4671.0 4609.9 4584.8 6

 7 FA835019005 Fixed investment (3) 3698.7 4132.6 4004.1 4102.8 4164.3 4259.2 4413.6 4464.6 4499.9 7

 8 FA835013001 Nonresidential 2797.9 3025.0 2934.6 3007.3 3046.3 3111.8 3225.0 3292.2 3394.1 8

 9 FA165013005 Nonprofit organizations (4) 209.2 220.6 219.5 210.1 219.1 234.0 240.8 244.3 248.9 9

 10 FA105013005 Nonfinancial corporate business 1989.4 2157.8 2084.1 2141.3 2175.6 2230.0 2309.3 2358.4 2428.3 10

 11 FA115013005 Nonfinancial noncorporate business 302.2 323.5 307.8 328.1 331.1 327.0 342.3 353.5 368.3 11

 12 FA795013005 Financial institutions 297.2 323.1 323.2 327.8 320.5 320.9 332.5 335.9 348.6 12

 13 FA835012001 Residential 900.8 1107.6 1069.5 1095.6 1118.0 1147.3 1188.6 1172.4 1105.8 13

 14 FA155012005 Household sector 746.5 925.7 900.9 910.9 928.5 962.6 995.0 960.1 901.2 14

 15 FA105012005 Nonfinancial corporate business 8.8 5.9 0.2 7.4 15.2 1.0 12.2 33.6 39.6 15

 16 FA115012005 Nonfinancial noncorporate business 142.7 168.3 166.5 166.2 167.8 172.8 178.9 173.7 165.3 16

 17 FA125012063 REITs 2.8 7.6 1.9 11.1 6.6 10.9 2.5 5.0 -0.2 17

 18 FA145020005 Change in private inventories -55.8 -19.1 -101.8 -159.4 -55.2 240.0 257.4 145.4 84.9 18

 19 FA105020005 Nonfinancial corporate business -44.2 -14.6 -86.3 -135.3 -46.3 209.4 225.4 130.8 80.3 19

 20 FA115020005 Nonfinancial noncorporate business -11.6 -4.5 -15.5 -24.1 -8.9 30.6 32.0 14.6 4.6 20

 21 FA266903005 Net U.S. exports of goods and services -627.5 -861.7 -808.6 -834.4 -889.1 -914.7 -1116.7 -1035.6 -889.5 21

 22 FA266903011 Exports 2148.6 2539.6 2369.1 2503.1 2553.3 2733.0 2811.2 3038.8 3067.6 22

 23 FA266903001 - Imports 2776.1 3401.4 3177.7 3337.5 3442.5 3647.7 3927.9 4074.4 3957.1 23

 Government consumption expenditures and

 24 FA366902005 gross investment 3928.9 4160.7 4088.7 4124.4 4183.1 4246.7 4311.4 4412.8 4486.5 24

 25 FA366901005 Consumption expenditures (5) 3138.4 3353.7 3290.7 3327.4 3373.1 3423.8 3482.1 3573.9 3622.9 25

 26 FA316901001 Federal 1169.6 1246.8 1263.9 1249.0 1230.6 1243.7 1243.5 1248.3 1278.0 26

 27 FA216901001 State and local 1968.8 2106.9 2026.7 2078.4 2142.5 2180.1 2238.5 2325.6 2344.8 27

 28 FA365019005 Gross investment (5) 790.5 807.0 798.0 797.0 810.1 822.9 829.3 838.9 863.7 28

 29 FA315019001 Federal 351.0 362.4 356.3 359.0 365.0 369.1 369.6 374.4 378.9 29

 30 FA215019001 State and local 439.6 444.6 441.7 438.0 445.1 453.8 459.7 464.5 484.8 30

 Memo:

 31 FA266904005 Net U.S. income receipts from rest of world 197.0 173.1 197.3 145.7 167.8 181.5 188.7 207.9 169.5 31

 32 FA266904001 U.S. income receipts 971.3 1087.0 1057.5 1062.8 1106.8 1120.9 1147.1 1231.3 1291.2 32

 33 FA266904101 - U.S. income payments 774.3 913.9 860.1 917.0 939.0 939.5 958.4 1023.3 1121.7 33

 Gross national product (GNP) =

 34 FA086902105 GDP + net U.S. income receipts 21257.4 23488.2 22511.2 23192.7 23718.3 24530.6 24929.2 25456.4 25868.5 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 FA155420003 Household sector -14.0 -14.3 -14.1 -14.2 -14.3 -14.5 -14.7 -14.8 -14.9 35

 36 FA105420005 Nonfinancial corporate business 0.0 6.4 15.5 -2.5 15.3 -2.7 321.9 14.7 87.8 36

 37 FA315420003 Federal government -2.9 -9.0 -18.0 -0.1 -18.0 -0.0 -324.3 -17.3 -90.5 37

 38 FA215420003 State and local governments 16.6 17.0 16.8 16.9 17.1 17.2 17.4 17.6 17.6 38

 39 FA265420005 Rest of the world 0.2 -0.1 -0.2 -0.2 -0.1 -0.0 -0.3 -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) Included in the households and nonprofit organizations sector (table F.101).

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA086010005 National income 17894.6 19785.5 19054.5 19441.6 19976.1 20669.9 21092.6 21483.6 21619.1 1

 2 FA156025105 Compensation of employees 11592.7 12538.5 12058.5 12369.8 12681.3 13044.4 13259.7 13415.2 13632.7 2

 3 FA156020101 Wages and salaries 9457.4 10290.1 9851.2 10138.5 10422.3 10748.4 10925.5 11058.0 11245.9 3

 4 FA156401101 Supplements to wages and salaries 2135.4 2248.4 2207.3 2231.3 2259.0 2296.0 2334.2 2357.1 2386.8 4

 5 FA146111105 Proprietors’ income with IVA and CCAdj 1643.1 1753.6 1655.0 1776.9 1792.7 1789.8 1811.4 1835.4 1859.0 5

 6 FA116112101 Rental income of persons with CCAdj 719.8 723.8 719.4 713.5 722.7 739.6 744.9 775.9 794.9 6

 7 FA096060035 Corporate profits with IVA and CCAdj 2260.1 2771.1 2588.2 2786.8 2843.5 2865.9 2869.6 3001.3 2969.7 7

 8 FA096060025 Corporate profits with IVA 2373.5 2881.2 2688.6 2883.1 2951.8 3001.4 3081.6 3252.7 3257.6 8

 9 FA096060005 Profits before tax 2399.8 3138.1 2938.0 3209.4 3214.2 3190.7 3328.5 3521.8 3316.4 9

 10 FA106060005 Domestic nonfinancial 1455.6 2140.7 1972.2 2242.2 2194.2 2154.4 2298.2 2507.0 2334.0 10

 11 FA796060005 Domestic financial 514.6 585.0 530.4 587.5 608.3 613.6 593.4 552.4 524.8 11

 12 FA266060005 Rest of the world 429.6 412.4 435.4 379.7 411.7 422.7 436.9 462.3 457.6 12

 Less:

 13 FA096231001 Taxes on corporate income 288.9 388.2 350.8 385.1 387.1 430.0 495.1 478.7 452.3 13

 14 FA106231005 Domestic nonfinancial 204.0 280.9 254.6 278.7 275.6 314.9 395.9 399.7 360.0 14

 15 FA796231003 Domestic financial 84.9 107.3 96.2 106.4 111.5 115.1 99.2 79.0 92.3 15

 Equals:

 16 FA096060015 Profits after tax 2110.9 2749.8 2587.2 2824.3 2827.1 2760.8 2833.4 3043.1 2864.0 16

 17 FA096121073 Net dividends 1541.3 1659.3 1567.5 1645.6 1693.8 1730.2 1743.6 1740.4 1687.0 17

 18 FA106121075 Domestic nonfinancial 850.2 1042.2 972.8 1071.1 998.3 1126.5 960.4 939.8 925.4 18

 19 FA796121073 Domestic financial 371.4 359.4 312.1 358.4 361.3 405.8 382.9 398.6 418.2 19

 20 FA266121073 Rest of the world 319.7 257.7 282.6 216.2 334.2 197.9 400.3 402.0 343.5 20

 21 FA096006401 Undistributed profits 569.6 1090.6 1019.7 1178.6 1133.3 1030.6 1089.8 1302.7 1177.0 21

 22 FA106006405 Domestic nonfinancial 401.4 817.7 744.8 892.4 920.3 713.1 941.9 1167.5 1048.5 22

 23 FA796006403 Domestic financial 58.3 118.2 122.1 122.7 135.5 92.7 111.3 74.8 14.3 23

 24 FA266006403 Rest of the world 109.9 154.7 152.8 163.5 77.5 224.8 36.6 60.4 114.2 24

 25 FA105020601 Inventory valuation adjustment (IVA) -26.4 -256.9 -249.4 -326.3 -262.4 -189.4 -246.9 -269.1 -58.8 25

 26 FA096310003 Capital consumption adjustment (CCAdj) -113.4 -110.1 -100.4 -96.3 -108.3 -135.5 -212.0 -251.4 -287.9 26

 27 FA106310005 Domestic nonfinancial -41.9 -37.3 -29.1 -25.6 -35.6 -59.0 -128.9 -163.3 -194.6 27

 28 FA796310003 Domestic financial -71.4 -72.8 -71.3 -70.6 -72.7 -76.4 -83.1 -88.1 -93.4 28

 29 FA086130003 Net interest and miscellaneous payments 665.8 644.1 681.1 651.6 622.0 621.5 630.2 608.2 513.8 29

 30 FA366240005 Taxes on production and imports 1526.3 1663.4 1583.7 1676.7 1680.0 1713.2 1750.1 1775.5 1791.7 30

 31 FA366402005 Less: Subsidies 657.3 481.9 390.0 702.5 546.3 289.0 145.2 123.5 114.1 31

 32 FA146403005 Business current transfer payments (net) 144.1 171.0 158.8 169.5 176.9 178.8 170.1 198.7 177.7 32

 33 FA156403101 To persons (net) 44.1 71.0 59.5 76.0 75.2 73.2 71.1 74.1 69.8 33

 34 FA366403145 To government (net) 97.5 97.4 100.1 96.9 96.3 96.3 95.1 117.4 96.8 34

 35 FA266403101 To rest of the world (net) 2.5 2.7 -0.7 -3.3 5.3 9.3 3.9 7.2 11.1 35

 36 FA366402105 Current surplus of government enterprises -0.1 2.1 -0.1 -0.7 3.3 5.8 1.8 -3.0 -6.4 36

 Memo:

 Calculation of gross domestic product

 from National income:

 37 FA086010005 National Income, from line 1 above 17894.6 19785.5 19054.5 19441.6 19976.1 20669.9 21092.6 21483.6 21619.1 37

 Plus:

 38 FA836300005 Private consumption of fixed capital 2971.8 3184.5 3064.4 3136.0 3222.5 3315.2 3422.4 3530.9 3631.2 38

 39 FA366300005 Government consumption of fixed capital 605.9 647.1 626.1 639.4 653.2 669.7 691.2 711.2 726.4 39

 40 FA087005005 Statistical discrepancy -214.9 -128.9 -233.8 -24.3 -133.5 -124.2 -277.0 -269.3 -108.2 40

 Less:

 41 FA266904005 Net U.S. income receipts from rest of world 197.0 173.1 197.3 145.7 167.8 181.5 188.7 207.9 169.5 41

 Equals:

 42 FA086902005 Gross domestic product (2) 21060.5 23315.1 22313.9 23046.9 23550.4 24349.1 24740.5 25248.5 25699.0 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 (line 37) to Gross domestic product (line 42) is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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F.4 Saving and Investment by Sector (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA886000115 Gross saving 4055.9 4188.1 4155.4 3920.6 4137.7 4538.6 4667.9 4697.7 4606.1 1

 2 FA896006005 Net saving 478.1 356.5 464.9 145.2 262.1 553.7 554.2 455.6 248.5 2

 3 FA836006005 Net private saving 3422.2 2966.9 4658.6 2734.6 2431.7 2042.8 1415.9 1373.3 1350.9 3

 4 FA826006005 Domestic business 429.9 723.6 669.8 756.0 762.6 705.7 631.0 782.2 830.3 4

 5 FA106012005 Nonfinancial corporate business 423.1 647.3 546.3 657.8 700.6 684.7 613.7 680.9 714.5 5

 6 FA796012005 Financial business 6.8 76.2 123.5 98.3 62.0 21.0 17.3 101.3 115.8 6

 7 FA156006005 Households and institutions 2992.3 2243.4 3988.7 1978.6 1669.1 1337.1 784.9 591.1 520.6 7

 8 FA366006005 Net government saving -2944.1 -2610.5 -4193.7 -2589.4 -2169.7 -1489.1 -861.6 -917.8 -1102.4 8

 9 FA316006005 Federal -2957.4 -2835.3 -4120.3 -3382.7 -2314.4 -1524.0 -929.0 -879.9 -1037.5 9

 10 FA216006005 State and local 13.3 224.9 -73.3 793.3 144.7 34.9 67.4 -37.9 -65.0 10

 11 FA886300095 Consumption of fixed capital 3577.8 3831.6 3690.5 3775.4 3875.7 3984.9 4113.6 4242.1 4357.6 11

 12 FA836300005 Private 2971.8 3184.5 3064.4 3136.0 3222.5 3315.2 3422.4 3530.9 3631.2 12

 13 FA826300003 Domestic business 2340.9 2480.0 2395.6 2443.3 2504.6 2576.6 2652.2 2736.3 2816.7 13

 14 FA106300003 Nonfinancial corporate business 1709.3 1801.3 1745.0 1776.0 1816.9 1867.2 1921.6 1982.0 2040.2 14

 15 FA116300001 Nonfinancial noncorporate business 364.8 392.7 376.4 386.0 397.7 410.7 425.7 439.0 450.6 15

 16 FA796300081 Financial business 266.8 286.0 274.1 281.2 289.9 298.7 305.0 315.3 325.8 16

 17 FA156300003 Households and institutions 630.9 704.5 668.8 692.7 717.9 738.6 770.2 794.6 814.5 17

 18 FA366300005 Government 605.9 647.1 626.1 639.4 653.2 669.7 691.2 711.2 726.4 18

 19 FA316300001 Federal 304.7 322.7 314.8 319.5 325.1 331.2 338.3 345.6 351.2 19

 20 FA216300001 State and local 301.2 324.4 311.3 319.9 328.0 338.5 352.9 365.5 375.2 20

 Gross domestic investment, capital account

 21 FA885090015 transactions, and net lending, NIPAs 3841.0 4059.1 3921.6 3896.3 4004.2 4414.4 4390.8 4428.3 4497.9 21

 22 FA885019905 Gross domestic investment 4433.4 4920.5 4700.3 4740.4 4919.2 5322.0 5500.3 5448.8 5448.5 22

 23 FA835019905 Gross private domestic investment 3642.9 4113.5 3902.3 3943.4 4109.1 4499.2 4671.0 4609.9 4584.8 23

 24 FA825019905 Domestic business 2687.2 2967.1 2781.9 2822.5 2961.6 3302.6 3435.2 3405.5 3434.8 24

 25 FA105019985 Nonfinancial corporate business 1956.8 2156.7 1990.1 2029.3 2158.7 2448.6 2549.0 2531.2 2558.5 25

 26 FA115050085 Nonfinancial noncorporate business 433.3 487.4 468.6 465.4 482.4 533.0 553.7 538.5 527.7 26

 27 FA795013005 Financial business 297.2 323.1 323.2 327.8 320.5 320.9 332.5 335.9 348.6 27

 28 FA155019005 Households and institutions 955.7 1146.4 1120.4 1120.9 1147.5 1196.6 1235.8 1204.4 1150.0 28

 29 FA365019005 Gross government investment 790.5 807.0 798.0 797.0 810.1 822.9 829.3 838.9 863.7 29

 30 FA315019001 Federal 351.0 362.4 356.3 359.0 365.0 369.1 369.6 374.4 378.9 30

 31 FA215019001 State and local 439.6 444.6 441.7 438.0 445.1 453.8 459.7 464.5 484.8 31

 32 FA265430003 Capital account transactions (net) (2) 6.0 3.6 14.1 4.0 -11.5 7.8 8.0 16.1 -20.4 32

 33 FA835430005 Private 2.7 -42.3 -198.8 8.9 9.1 11.6 336.3 133.1 27.0 33

 34 FA825430005 Domestic business 13.7 14.1 14.9 -3.0 47.4 -3.1 321.5 118.4 118.5 34

 35 FA105430005 Nonfinancial corporate business 13.7 -3.4 14.9 -3.0 -22.5 -3.1 321.5 118.4 52.6 35

 36 FA115440005 Nonfinancial noncorporate business 0.0 -5.2 0.0 0.0 -20.7 0.0 0.0 0.0 -36.0 36

 37 FA795440005 Financial business 0.0 22.7 0.0 0.0 90.6 0.0 0.0 0.0 101.9 37

 38 FA155430005 Households and institutions -11.0 -56.4 -213.8 11.9 -38.4 14.6 14.8 14.8 -91.5 38

 39 FA365430005 Government 3.3 45.9 212.9 -4.9 -20.6 -3.8 -328.3 -117.0 -47.4 39

 40 FA315430005 Federal 70.4 112.0 276.7 60.4 51.9 58.9 -266.1 412.6 83.4 40

 41 FA215430005 State and local -67.1 -66.1 -63.8 -65.3 -72.5 -62.7 -62.2 -529.6 -130.9 41

 42 FA885000905 Net lending (+) or net borrowing (-), NIPAs (3) -598.5 -865.0 -792.8 -848.1 -903.5 -915.5 -1117.5 -1036.7 -930.2 42

 43 FA835000905 Private 2533.5 1951.3 3785.7 1894.0 1402.5 723.0 -446.0 -108.2 262.1 43

 44 FA825000905 Domestic business -145.0 93.4 34.8 355.6 124.6 -141.4 -750.6 -274.7 -14.5 44

 45 FA105000995 Nonfinancial corporate business (3) -53.1 166.5 52.5 383.3 247.8 -17.8 -612.3 -255.9 35.4 45

 46 FA115000905 Nonfinancial noncorporate business -68.4 -89.5 -92.2 -79.4 -64.0 -122.4 -128.0 -99.4 -41.1 46

 47 FA795000905 Financial business -23.5 16.4 74.5 51.7 -59.2 -1.2 -10.3 80.7 -8.8 47

 48 FA155000905 Households and institutions 2678.5 1857.9 3750.8 1538.4 1277.9 864.4 304.5 166.6 276.6 48

 49 FA365000905 Government -3131.9 -2816.3 -4578.5 -2742.2 -2306.0 -1638.5 -671.5 -928.5 -1192.3 49

 50 FA315000905 Federal -3074.0 -2987.1 -4438.6 -3482.6 -2406.2 -1620.9 -694.3 -1321.2 -1148.6 50

 51 FA215000905 State and local -57.9 170.8 -139.9 740.5 100.2 -17.6 22.8 392.7 -43.7 51

 52 FA087005005 Statistical discrepancy (line 21 less line 1) -214.9 -128.9 -233.8 -24.3 -133.5 -124.2 -277.0 -269.3 -108.2 52

 Addenda:

 53 FA895404005 Disaster losses 0.0 62.0 0.0 0.0 248.0 0.0 0.0 0.0 240.0 53

 54 FA835404005 Private 0.0 58.0 0.0 0.0 232.0 0.0 0.0 0.0 228.0 54

 55 FA825404003 Domestic business 0.0 38.5 0.0 0.0 154.0 0.0 0.0 0.0 72.0 55

 56 FA155404003 Households and institutions 0.0 19.5 0.0 0.0 78.0 0.0 0.0 0.0 156.0 56

 57 FA365404005 Government 0.0 4.0 0.0 0.0 16.0 0.0 0.0 0.0 12.0 57

 58 FA315404003 Federal 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

 59 FA215404003 State and local 0.0 4.0 0.0 0.0 16.0 0.0 0.0 0.0 12.0 59

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA895410005 Capital transfers paid, by sector 132.2 210.7 350.8 121.1 244.3 126.7 127.1 602.8 398.2 1

 2 FA825410005 By private business 14.5 23.7 0.0 0.0 94.8 0.0 0.0 104.0 105.8 2

 3 FA795410005 Financial corporations 0.0 23.7 0.0 0.0 94.8 0.0 0.0 0.0 105.8 3

 4 FA515410073 Disaster-related insurance benefits 0.0 23.7 0.0 0.0 94.8 0.0 0.0 0.0 98.9 4

 5 FA795410003 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.8 5

 6 FA105410003 Nonfinancial corporations 14.5 0.0 0.0 0.0 0.0 0.0 0.0 104.0 0.0 6

 7 FA115410003 Noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA365410005 By government 92.4 148.5 319.3 87.2 98.4 89.1 89.1 460.7 216.4 8

 9 FA315410005 Federal 92.4 148.5 319.3 87.2 98.4 89.1 89.1 460.7 206.4 9

 10 FA215400033 Investment grants to state and local govts. 76.6 72.6 73.7 75.1 69.3 72.5 72.5 436.4 140.3 10

 11 FA315410073 Disaster-related insurance benefits 0.0 4.0 0.0 0.0 16.0 0.0 0.0 0.0 40.0 11

 12 FA315410093 Financial stabilization payments (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA315410043 Other capital transfers paid to business 0.9 0.5 0.6 0.5 0.4 0.3 0.4 0.3 0.3 13

 14 FA315410053 Other capital transfers paid to persons 8.8 64.1 231.1 7.8 9.1 8.5 8.5 8.5 10.0 14

 15 FA315410063 Capital transfers paid to rest of world (net) 6.2 7.3 13.9 3.8 3.6 7.8 7.7 15.5 15.8 15

 16 FA215410073 State and local 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10.0 16

 17 FA215410073 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10.0 17

 18 FA155410035 By persons 25.3 34.7 31.5 33.9 35.9 37.6 38.0 38.1 39.8 18

 19 FA315400053 Estate and gift taxes, federal 19.1 27.5 24.5 26.7 28.5 30.1 30.8 30.9 32.4 19

 20 FA215400053 Estate and gift taxes, state and local 6.1 7.2 6.9 7.2 7.4 7.5 7.1 7.2 7.3 20

 21 FA265410005 By the rest of the world 0.0 3.8 0.0 0.0 15.2 0.0 0.0 0.0 36.3 21

 22 FA265410073 Disaster-related insurance benefits 0.0 3.8 0.0 0.0 15.2 0.0 0.0 0.0 36.3 22

 23 FA265410003 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA895400005 Capital transfers received, by sector 132.2 210.7 350.8 121.1 244.3 126.7 127.1 602.8 398.2 24

 25 FA825400005 By private business 0.9 16.0 0.6 0.5 62.7 0.3 0.4 0.3 75.0 25

 26 FA795400005 Financial corporations 0.0 1.0 0.0 0.0 4.2 0.0 0.0 0.0 3.9 26

 27 FA515400073 Disaster-related insurance benefits 0.0 1.0 0.0 0.0 4.2 0.0 0.0 0.0 3.9 27

 28 FA795400003 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FA105400005 Nonfinancial corporations 0.9 9.8 0.6 0.5 37.9 0.3 0.4 0.3 35.2 29

 30 FA105400073 Disaster-related insurance benefits 0.0 9.4 0.0 0.0 37.4 0.0 0.0 0.0 34.9 30

 31 FA105400003 Other 0.9 0.5 0.6 0.5 0.4 0.3 0.4 0.3 0.3 31

 32 FA115400005 Noncorporate business 0.0 5.2 0.0 0.0 20.7 0.0 0.0 0.0 36.0 32

 33 FA115400075 Disaster-related insurance benefits 0.0 5.2 0.0 0.0 20.7 0.0 0.0 0.0 36.0 33

 34 FA115400003 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 FA365400005 By government 102.8 110.6 105.1 109.0 118.1 110.1 110.5 578.0 190.9 35

 36 FA315400005 Federal 19.1 27.5 24.5 26.7 28.5 30.1 30.8 30.9 32.4 36

 37 FA315400053 Estate and gift taxes paid by persons 19.1 27.5 24.5 26.7 28.5 30.1 30.8 30.9 32.4 37

 38 FA315400003 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 FA215400005 State and local 83.7 83.1 80.6 82.2 89.6 79.9 79.7 547.1 158.5 39

 40 FA215400073 Disaster-related insurance benefits 0.0 3.2 0.0 0.0 12.9 0.0 0.0 0.0 10.9 40

 41 FA215400053 Estate and gift taxes paid by persons 6.1 7.2 6.9 7.2 7.4 7.5 7.1 7.2 7.3 41

 42 FA215400033 Investment grants paid by federal government 76.6 72.6 73.7 75.1 69.3 72.5 72.5 436.4 140.3 42

 43 FA215400003 Other 1.0 0.0 0.0 0.0 0.0 0.0 0.0 103.5 0.0 43

 44 FA155400005 By persons 22.3 76.8 231.1 7.8 59.9 8.5 8.5 8.5 116.4 44

 45 FA155400073 Disaster-related insurance benefits 0.0 12.7 0.0 0.0 50.9 0.0 0.0 0.0 99.6 45

 46 FA155400003 Other 22.3 64.1 231.1 7.8 9.1 8.5 8.5 8.5 16.8 46

 47 FA265400005 By the rest of the world 6.2 7.3 13.9 3.8 3.6 7.8 7.7 16.0 15.8 47

 48 FA265400033 Capital transfers paid by U.S. government 6.2 7.3 13.9 3.8 3.6 7.8 7.7 15.5 15.8 48

 49 FA265400073 Disaster-related insurance benefits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 FA265400003 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.0 50

 Addenda: Net capital transfers paid by sector

 51 FA825440005 By private business (lines 2-25) 13.6 7.7 -0.6 -0.5 32.1 -0.3 -0.4 103.7 30.7 51

 52 FA795440005 Financial corporations (lines 3-26) 0.0 22.7 0.0 0.0 90.6 0.0 0.0 0.0 101.9 52

 53 FA515440005 Property-casualty insurance companies 0.0 22.7 0.0 0.0 90.6 0.0 0.0 0.0 95.1 53

 54 FA545410003 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 FA765440005 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6.8 55

 56 FA405400033 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

 57 FA615410003 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

 58 FA735410003 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

 59 FA735400033 Holding companies (GMAC) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59

 60 FA505400033 Other financial business (AIG) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 60

 61 FA105440005 Nonfinancial corporations (lines 6-29) 13.6 -9.8 -0.6 -0.5 -37.9 -0.3 -0.4 103.7 -35.2 61

 62 FA115440005 Noncorporate business (lines 7-32) 0.0 -5.2 0.0 0.0 -20.7 0.0 0.0 0.0 -36.0 62

 63 FA365440005 By government (lines 8-35) -10.4 37.9 214.2 -21.8 -19.7 -21.0 -21.4 -117.3 25.5 63

 64 FA315440005 Federal (lines 9-36) 73.3 121.0 294.8 60.5 69.9 59.0 58.3 429.8 174.0 64

 65 FA215440005 State and local (lines 16-39) -83.7 -83.1 -80.6 -82.2 -89.6 -79.9 -79.7 -547.1 -148.5 65

 66 FA155440005 By persons (lines 18-44) 3.0 -42.1 -199.7 26.1 -24.1 29.1 29.5 29.6 -76.6 66

 67 FA265440005 By the rest of the world (lines 21-47) -6.2 -3.5 -13.9 -3.8 11.6 -7.8 -7.7 -16.0 20.4 67

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

(2) Series treated as capital losses in the financial corporations sectors rather than as capital transfers in the Financial Accounts of the United States.
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F.6 Derivation of Measures of Personal Saving (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA174090005 Net acquisition of financial assets 4061.0 3180.7 2871.0 3788.6 2762.3 3300.9 2780.3 1750.1 1445.9 1

 2 FA153091003 Foreign deposits 7.8 -0.2 5.4 -5.1 -5.1 3.8 7.9 -2.4 5.3 2

 3 FA173020005 Checkable deposits and currency 2042.6 1175.9 1393.5 1821.9 841.1 646.9 784.6 1720.3 1417.6 3

 4 FA173030005 Time and savings deposits 628.6 884.1 2018.6 -216.3 477.0 1257.0 261.8 -1368.5 -1560.6 4

 5 FA173034005 Money market fund shares 437.5 103.8 558.8 30.0 -395.7 222.1 -116.5 117.1 82.2 5

 6 FA174022005 Debt securities -622.4 -864.8 -3075.7 163.6 198.5 -745.7 469.2 1682.5 1610.0 6

 7 FA173061105 Treasury securities -345.1 -677.3 -1926.1 -394.6 291.1 -679.7 695.4 549.3 1471.7 7

 8 FA153061705 Agency- and GSE-backed securities -298.4 22.6 -252.6 351.8 -180.9 172.0 269.4 599.4 973.5 8

 9 FA173062005 Municipal securities -29.7 -102.0 -93.4 -82.3 -88.8 -143.3 -125.5 147.2 29.1 9

 10 FA153063005 Corporate and foreign bonds 50.8 -108.1 -803.6 288.7 177.1 -94.7 -370.1 386.6 -864.3 10

 11 FA174023005 Loans 117.3 100.2 60.0 65.1 208.8 66.8 527.9 -219.2 -224.7 11

 12 FA153064105 Corporate equities (2) 616.3 726.7 931.2 1364.3 474.3 136.9 991.8 302.4 -431.5 12

 13 FA153064205 Mutual fund shares -188.4 514.6 469.5 73.7 303.8 1211.3 -700.2 -1299.5 -380.6 13

 14 FA163070005 Trade receivables 8.8 8.2 8.2 8.2 8.2 8.2 8.5 8.5 8.5 14

 15 FA153040005 Life insurance reserves 94.2 31.0 -7.1 39.1 76.6 15.2 1.3 55.5 58.4 15

 16 FA153050005 Pension entitlements 509.0 325.2 232.3 254.9 432.2 381.2 409.4 374.2 417.0 16

 17 FA173099005 Miscellaneous and other assets 409.7 176.2 276.3 189.3 142.4 97.0 134.6 379.0 444.2 17

 18 FA175050005 Gross investment in nonfinancial assets 2925.4 3538.0 3419.2 3545.1 3518.2 3669.6 3808.0 3763.1 3720.8 18

 19 FA175012005 Residential fixed investment 889.2 1094.0 1067.4 1077.1 1096.2 1135.4 1173.9 1133.8 1066.5 19

 20 FA175013005 Nonresidential fixed investment 511.4 544.1 527.3 538.2 550.2 560.9 583.1 597.8 617.2 20

 21 FA155111003 Consumer durables 1550.3 1918.6 1854.0 1968.2 1895.1 1957.1 2033.7 2031.7 2047.4 21

 22 FA155420003 Nonproduced nonfinancial assets -14.0 -14.3 -14.1 -14.2 -14.3 -14.5 -14.7 -14.8 -14.9 22

 23 FA115020005 Inventories -11.6 -4.5 -15.5 -24.1 -8.9 30.6 32.0 14.6 4.6 23

 24 FA176300005 Consumption of fixed capital 2208.6 2461.0 2339.1 2399.9 2509.4 2595.6 2676.5 2764.7 2823.1 24

 25 FA176320005 Residential fixed investment 567.8 644.1 619.8 634.2 651.7 670.5 692.2 714.1 734.4 25

 26 FA176330005 Nonresidential fixed investment 428.0 453.2 425.4 444.5 463.9 478.7 503.7 519.5 530.7 26

 27 FA156300103 Consumer durables 1212.8 1363.8 1293.9 1321.1 1393.7 1446.4 1480.7 1531.1 1558.0 27

 28 FA172010005 Net investment in nonfinancial assets (3) 716.8 1077.0 1080.0 1145.3 1008.8 1074.0 1131.5 998.4 897.7 28

 29 FA175012865 Residential fixed investment 321.5 450.0 447.7 442.8 444.5 465.0 481.7 419.6 332.1 29

 30 FA175013865 Nonresidential fixed investment 83.4 91.0 101.9 93.7 86.3 82.2 79.5 78.3 86.5 30

 31 FA155111005 Consumer durables 337.5 554.8 560.1 647.1 501.3 510.7 553.0 500.7 489.4 31

 32 FA155420003 Nonproduced nonfinancial assets -14.0 -14.3 -14.1 -14.2 -14.3 -14.5 -14.7 -14.8 -14.9 32

 33 FA115020005 Inventories -11.6 -4.5 -15.5 -24.1 -8.9 30.6 32.0 14.6 4.6 33

 34 FA174190005 Net increase in liabilities 1133.4 1642.3 1576.9 1562.3 1384.8 2045.2 2111.0 1855.5 1548.3 34

 35 FA173165105 One-to-four-family residential mortgages 478.9 893.5 648.1 945.6 972.4 1008.0 1083.1 1097.2 861.4 35

 36 FA173165205 Other mortgages 206.6 236.8 188.2 191.3 239.8 327.7 270.4 314.7 221.1 36

 37 FA153166000 Consumer credit -12.0 246.0 174.8 275.3 231.3 302.5 372.5 391.7 321.5 37

 38 FA173169005 Other loans and advances 265.1 152.9 399.7 190.4 -23.7 45.2 104.8 -122.2 52.9 38

 39 FA173199005 Other liabilities 194.8 113.2 166.1 -40.4 -35.0 361.9 280.1 174.1 91.4 39

 40 FA175440005 Net capital transfers paid (4) 3.0 -47.3 -199.7 26.1 -44.7 29.1 29.5 29.6 -112.7 40

 41 FA176007025 Personal saving, FOF concept (FOF) 3647.4 2568.1 2174.5 3397.7 2341.6 2358.7 1830.3 922.6 682.7 41

 42 FA155111005 - Net investment in consumer durables 337.5 554.8 560.1 647.1 501.3 510.7 553.0 500.7 489.4 42

 43 FA313154015 - Government insurance and pension fund reserves (5) -3.6 -0.8 -0.4 -4.1 1.4 -0.1 -1.0 -2.3 -1.4 43

 44 FA156600075 + Contr. for govt. soc. insur., U.S.-affiliated areas 5.0 5.4 5.2 5.3 5.5 5.7 5.8 5.9 6.0 44

 45 FA176007005 = Personal saving, NIPA concept (FOF) (6) 3318.5 2019.6 1620.0 2760.1 1844.3 1853.7 1284.0 430.1 200.6 45

 46 FA156007015 Personal saving, NIPA concept (NIPA) 2992.3 2243.4 3988.7 1978.6 1669.1 1337.1 784.9 591.1 520.6 46

 47 FA176007085 Difference 326.1 -223.8 -2368.7 781.6 175.3 516.7 499.1 -161.0 -320.0 47

 Memo:

 48 FA156012005 Disposable personal income 17595.9 18633.1 19586.5 18277.8 18312.0 18356.1 18174.4 18389.8 18625.6 48

 Personal saving as a percentage of disposable personal income:

 49 FA176007026 FOF concept (FOF data) (line 41) 20.73 13.78 11.10 18.59 12.79 12.85 10.07 5.02 3.67 49

 50 FA176007006 NIPA concept (FOF data) (line 45) 18.86 10.84 8.27 15.10 10.07 10.10 7.06 2.34 1.08 50

 51 FA156007016 NIPA concept (NIPA data) (line 46) 17.01 12.04 20.36 10.83 9.11 7.28 4.32 3.21 2.80 51

 52 FA176007086 Difference (line 47) 1.85 -1.20 -12.09 4.28 0.96 2.81 2.75 -0.88 -1.72 52

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

(2) Directly held, and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 13), life insurance reserves (line 15), and pension entitlements (line 16).

(3) Line 18 less line 24.

(4) Table F.5, line 62 plus line 66.

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

(6) Lines 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 saving, NIPA concept (NIPA) (line 46) is disposable personal income (line 48) less personal outlays (table F.101, line 4).
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L.6 Assets and Liabilities of the Personal Sector (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL174090005 Total financial assets 98489.0 109465.8 101915.4 105742.2 106491.2 109465.8 107338.9 99260.4 97895.7 1

 2 LM153091003 Foreign deposits 48.5 48.2 49.8 48.5 47.3 48.2 50.2 49.6 50.9 2

 3 FL173020005 Checkable deposits and currency 3575.4 4751.6 3990.4 4362.4 4499.8 4751.6 5011.8 5347.7 5635.3 3

 4 FL173030005 Time and savings deposits 11587.0 12479.7 12115.3 11957.6 12114.9 12479.7 12566.8 12119.9 11760.8 4

 5 FL173034005 Money market fund shares 2819.1 2922.9 2910.4 2893.5 2827.9 2922.9 2844.7 2851.9 2904.7 5

 6 FL174022005 Debt securities 4019.1 2964.1 3418.6 3272.2 3374.0 2964.1 3382.0 3672.9 4392.7 6

 7 FL173061105 Treasury securities 1446.5 667.0 1132.4 882.0 1016.8 667.0 1146.4 1275.7 1811.2 7

 8 LM153061705 Agency- and GSE-backed securities 237.9 255.2 166.6 272.1 209.3 255.2 351.9 555.8 808.9 8

 9 FL173062005 Municipal securities 1933.8 1810.6 1893.9 1889.1 1836.9 1810.6 1655.8 1616.4 1549.4 9

 10 LM153063005 Corporate and foreign bonds 400.8 231.3 225.8 229.0 311.1 231.3 227.9 225.1 223.3 10

 11 FL174023005 Loans 1309.3 1409.5 1324.3 1340.6 1392.8 1409.5 1541.4 1486.7 1430.5 11

 12 FL153069005 Other loans and advances 1149.7 1241.7 1161.5 1176.9 1226.9 1241.7 1373.3 1318.6 1262.5 12

 13 FL173065005 Mortgages 135.5 145.3 138.9 140.4 143.2 145.3 146.1 146.5 146.9 13

 14 FL173066005 Consumer credit 24.1 22.4 23.8 23.2 22.7 22.4 22.0 21.6 21.1 14

 15 LM153064105 Corporate equities (2) 26122.9 31940.7 28161.1 30468.1 30740.8 31940.7 30545.3 25424.0 24328.6 15

 16 LM153064205 Mutual fund shares 10960.1 12755.8 11421.3 12032.2 12008.3 12755.8 11781.2 9962.2 9297.9 16

 17 FL163070005 Trade receivables 283.3 291.5 285.3 287.4 289.4 291.5 293.6 295.8 297.9 17

 18 FL153040005 Life insurance reserves 1867.0 1944.9 1872.8 1910.3 1926.9 1944.9 1919.6 1887.5 1885.6 18

 19 FL153050005 Pension entitlements 29794.3 31677.5 30199.0 30957.3 31025.1 31677.5 31094.5 29762.3 29403.6 19

 20 FL173099005 Miscellaneous and other assets 6103.1 6279.4 6167.1 6212.1 6244.0 6279.4 6307.7 6400.0 6507.3 20

 21 FL174190005 Total liabilities 26303.3 27965.4 26609.7 27037.0 27410.3 27965.4 28304.7 28768.7 29188.6 21

 22 FL173165105 One-to-four-family residential mortgages 11632.2 12521.2 11763.3 12001.5 12254.3 12521.2 12675.0 12950.1 13172.8 22

 23 FL173165205 Other mortgages 4016.2 4253.0 4063.3 4111.1 4171.1 4253.0 4320.6 4399.3 4454.6 23

 24 FL153166000 Consumer credit 4184.9 4430.8 4167.2 4259.1 4337.4 4430.8 4462.6 4583.6 4684.5 24

 25 FL173169005 Other loans and advances 1126.7 1279.6 1228.6 1274.0 1265.5 1279.6 1307.7 1275.0 1285.6 25

 26 FL173199005 Other liabilities 5343.3 5480.8 5387.3 5391.2 5382.1 5480.8 5538.8 5560.7 5591.3 26

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 16), life insurance reserves (line 18), and pension entitlements (line 19).
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Z.1, December 9, 2022 15

F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA386000105 Gross saving less net capital transfers paid 5319.1 5759.5 5635.6 5514.7 5759.8 6127.9 6343.9 6392.1 6500.8 1

 2 FA385090005 Gross investment 5432.2 5773.7 4454.0 5837.0 5819.9 6984.0 6677.0 6721.9 5739.6 2

 3 FA385050005 Capital expenditures 5683.6 6508.5 6229.5 6369.9 6487.3 6947.3 7199.2 7139.8 7147.6 3

 4 FA155111003 Consumer durables 1550.3 1918.6 1854.0 1968.2 1895.1 1957.1 2033.7 2031.7 2047.4 4

 5 FA385012005 Fixed residential investment 905.5 1108.5 1075.7 1092.7 1120.0 1145.5 1195.1 1176.6 1115.6 5

 6 FA385013005 Fixed nonresidential investment 3283.7 3500.4 3401.3 3468.3 3527.3 3604.8 3712.7 3786.0 3899.7 6

 7 FA145020005 Inventory change -55.8 -19.1 -101.8 -159.4 -55.2 240.0 257.4 145.4 84.9 7

 8 FA385420005 Nonproduced nonfinancial assets -0.2 0.1 0.2 0.2 0.1 0.0 0.3 0.1 0.0 8

 9 FA385000005 Net lending (+) or net borrowing (-) -251.4 -734.8 -1775.5 -532.8 -667.4 36.7 -522.2 -417.9 -1408.0 9

 10 FA384090005 Net acqisition of financial assets 6566.1 3856.9 1971.9 4532.7 2693.8 6229.3 5904.2 4385.2 1475.3 10

 11 FA313011005 U.S. official reserve assets 8.9 114.1 -8.5 1.8 450.9 12.0 3.7 4.6 -2.4 11

 12 FA383091005 Foreign deposits 11.9 23.5 109.4 125.3 -137.8 -2.7 110.3 -115.5 -8.1 12

 13 FA383020005 Checkable deposits and currency 3892.2 109.1 -647.6 823.3 -1357.5 1618.0 2054.1 1703.7 -269.0 13

 14 FA383030005 Time and savings deposits 694.4 853.0 2041.7 -263.7 547.5 1086.4 241.4 -1458.3 -1512.0 14

 15 FA383034005 Money market fund shares 573.2 220.1 766.8 121.0 -380.6 373.1 -187.5 102.1 75.3 15

 16 FA382051005 Security repurchase agreements 39.3 -1.9 -48.8 65.7 -26.7 2.4 20.6 -9.9 0.7 16

 17 FA384022005 Debt securities -366.7 -508.1 -3125.0 1076.0 565.6 -549.0 697.5 2524.0 1766.9 17

 18 FA383069105 Open market paper 32.9 6.1 -39.7 134.8 -78.3 7.8 -71.4 63.6 -143.0 18

 19 FA383061105 Treasury securities -46.3 -276.5 -1775.7 423.0 725.2 -478.4 966.4 1268.0 1703.6 19

 20 FA383061705 Agency- and GSE-backed securities -366.2 -12.3 -349.4 334.9 -188.0 153.5 318.4 658.3 1042.0 20

 21 FA383062005 Municipal securities -36.7 -97.8 -88.8 -80.0 -83.6 -138.9 -119.8 153.5 35.8 21

 22 FA383063005 Corporate and foreign bonds 49.6 -127.6 -871.3 263.3 190.3 -92.9 -396.1 380.5 -871.5 22

 23 FA384023005 Loans 384.4 290.9 198.2 126.1 486.7 352.6 782.0 -65.6 0.1 23

 24 FA383069005 Other loans and advances 306.8 207.0 76.0 99.7 405.6 246.8 709.3 -91.6 -100.5 24

 25 FA383065005 Mortgages 19.0 30.2 32.1 25.1 33.6 29.9 25.3 29.5 36.7 25

 26 FA383066005 Consumer credit 58.5 53.8 90.1 1.4 47.6 76.0 47.3 -3.5 63.9 26

 27 FA383064105 Corporate equities 476.8 620.5 833.5 1259.0 368.8 20.5 885.6 196.2 -537.7 27

 28 FA383064205 Mutual fund shares -176.2 538.9 493.7 98.0 328.1 1235.6 -676.0 -1275.2 -356.3 28

 29 FA383070005 Trade receivables -82.7 649.5 700.7 640.5 450.4 806.5 859.1 933.7 -64.7 29

 30 FA153040005 Life insurance reserves 94.2 31.0 -7.1 39.1 76.6 15.2 1.3 55.5 58.4 30

 31 FA153050005 Pension entitlements 509.0 325.2 232.3 254.9 432.2 381.2 409.4 374.2 417.0 31

 32 FA383078005 Taxes payable 4.5 -131.9 -51.8 -272.5 -170.1 -33.2 10.7 -345.5 -180.9 32

 33 FA152090205 Equity in noncorporate business 53.2 -5.9 -18.2 54.6 9.9 -70.1 -91.7 -31.5 -5.4 33

 34 FA103092005 U.S. direct investment abroad 182.6 308.0 297.9 486.7 154.8 292.6 203.8 375.3 103.8 34

 35 FA383090005 Miscellaneous assets 267.1 421.2 204.5 -103.1 895.1 688.3 579.9 1417.4 1989.4 35

 36 FA384194005 Net increase in liabilities and equity 6817.5 4591.7 3747.3 5065.6 3361.2 6192.7 6426.5 4803.1 2883.3 36

 37 FA384190005 Net increase in liabilities 6733.9 4590.9 3531.6 4956.6 3361.5 6513.9 6800.0 5353.4 3370.5 37

 38 FA313111303 U.S. official reserve assets 0.0 112.8 0.0 0.0 451.3 0.0 0.0 0.0 0.0 38

 39 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 FA313112003 Treasury currency -0.0 -0.1 0.0 0.0 -0.5 0.0 0.0 0.0 -1.7 40

 41 FA384122005 Debt securities 5316.6 1966.2 1471.1 3068.0 -225.3 3551.0 2659.1 1573.2 1233.3 41

 42 FA103169100 Open market paper -62.3 6.0 -212.4 124.2 51.8 60.5 -26.8 268.7 151.6 42

 43 FA313161105 Treasury securities 4582.2 1683.8 1077.1 2677.5 -702.0 3682.7 2587.8 1441.8 1102.6 43

 44 FA313161705 Agency- and GSE-backed securities -1.0 -0.4 -1.5 -0.0 -1.3 1.1 -1.6 1.3 -1.5 44

 45 FA383162005 Municipal securities 85.4 77.9 121.1 118.0 113.5 -40.9 -64.1 53.4 -31.9 45

 46 FA103163003 Corporate and foreign bonds 712.4 198.9 486.9 148.4 312.7 -152.5 163.7 -192.0 12.4 46

 47 FA384123005 Loans 1474.3 1902.8 1730.3 1401.8 2400.5 2078.8 2778.5 2744.5 2051.0 47

 48 FA383168005 Depository institution loans n.e.c. 271.6 -70.6 31.7 -508.5 -315.2 509.4 369.3 670.0 322.2 48

 49 FA383169005 Other loans and advances 454.2 457.9 593.8 374.0 1116.6 -253.0 516.0 100.0 174.7 49

 50 FA383165005 Mortgages 760.5 1269.7 930.0 1260.9 1367.8 1519.9 1520.7 1582.7 1232.6 50

 51 FA153166000 Consumer credit -12.0 246.0 174.8 275.3 231.3 302.5 372.5 391.7 321.5 51

 52 FA383170005 Trade payables -93.1 635.6 591.7 544.6 439.3 966.8 907.0 797.0 -76.4 52

 53 FA313140003 Life insurance reserves 0.2 0.3 1.1 -3.4 3.7 -0.4 0.9 -0.3 1.0 53

 54 FA143178005 Taxes payable 20.7 -18.9 -24.8 -51.5 -6.6 7.2 167.8 -179.8 -61.1 54

 55 FA143192305 Foreign direct investment: intercompany debt -64.8 19.6 20.7 -60.9 63.8 54.8 0.1 22.1 35.9 55

 56 FA383190005 Miscellaneous liabilities 80.0 -27.5 -258.6 57.9 235.2 -144.4 286.7 396.7 188.5 56

 57 FA143181105 Net equity issues 83.5 0.8 215.7 109.0 -0.3 -321.2 -373.6 -550.4 -487.1 57

 58 FA103164103 Corporate equities -121.6 -338.1 -37.9 -281.0 -384.7 -648.9 -615.8 -741.1 -770.6 58

 59 FA112090205 Equity in noncoporate business 46.3 -21.7 -32.0 37.8 3.3 -96.0 -47.0 -27.3 -19.9 59

 60 FA143192105 Foreign direct investment: equity 158.8 360.6 285.6 352.2 381.1 423.7 289.3 218.1 303.3 60

 61 FA387005005 Discrepancy -113.1 -14.2 1181.5 -322.3 -60.1 -856.1 -333.1 -329.8 761.2 61

(1) Sum of domestic nonfinancial sectors shown on tables F.101 through F.107.
Transactions

16 Z.1, December 9, 2022

F.101 Households and Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA156010001 Personal income 19832.3 21294.8 22095.5 20916.4 21005.2 21162.1 21319.8 21578.3 21869.6 1

 2 FA156210005 - Personal current taxes 2236.4 2661.7 2509.0 2638.5 2693.2 2806.1 3145.5 3188.5 3244.0 2

 3 FA156012005 = Disposable personal income 17595.9 18633.1 19586.5 18277.8 18312.0 18356.1 18174.4 18389.8 18625.6 3

 4 FA156900005 - Personal outlays 14603.6 16389.8 15597.8 16299.3 16643.0 17019.0 17389.5 17798.7 18105.0 4

 5 FA156007015 = Personal saving, NIPA (2) 2992.3 2243.4 3988.7 1978.6 1669.1 1337.1 784.9 591.1 520.6 5

 6 FA313154015 + Government insurance and pension reserves (3) -3.6 -0.8 -0.4 -4.1 1.4 -0.1 -1.0 -2.3 -1.4 6

 7 FA156600075 - Contr. for govt. soc. insur., U.S.-affiliated areas 5.0 5.4 5.2 5.3 5.5 5.7 5.8 5.9 6.0 7

 8 FA155111005 + Net investment in consumer durables 337.5 554.8 560.1 647.1 501.3 510.7 553.0 500.7 489.4 8

 9 FA156300005 + Consumption of fixed capital 1843.7 2068.3 1962.7 2013.8 2111.7 2185.0 2250.9 2325.7 2372.5 9

 10 FA155440005 - Net capital transfers paid (4) 3.0 -42.1 -199.7 26.1 -24.1 29.1 29.5 29.6 -76.6 10

 11 FA156000105 = Gross saving less net capital transfers paid 5162.0 4902.4 6705.6 4603.9 4302.0 3997.9 3552.5 3379.6 3451.8 11

 12 FA155090005 Gross investment 5488.1 4678.5 4336.9 5385.4 4477.3 4514.5 4051.7 3218.6 3131.8 12

 13 FA155050005 Capital expenditures 2492.1 3050.7 2960.3 3074.9 3028.2 3139.2 3254.8 3221.3 3182.6 13

 14 FA155111003 Consumer durable goods 1550.3 1918.6 1854.0 1968.2 1895.1 1957.1 2033.7 2031.7 2047.4 14

 15 FA155012005 Residential 746.5 925.7 900.9 910.9 928.5 962.6 995.0 960.1 901.2 15

 16 FA165013005 Nonprofit nonresidential 209.2 220.6 219.5 210.1 219.1 234.0 240.8 244.3 248.9 16

 17 FA155420003 Nonproduced nonfinancial assets -14.0 -14.3 -14.1 -14.2 -14.3 -14.5 -14.7 -14.8 -14.9 17

 18 FA155000005 Net lending (+) or net borrowing (-) 2996.1 1627.9 1376.6 2310.5 1449.1 1375.3 796.9 -2.7 -50.8 18

 19 FA154090005 Net acquisition of financial assets 3621.2 2869.6 2536.5 3571.0 2566.4 2804.6 2290.0 1343.1 1118.6 19

 20 FA153091003 Foreign deposits 7.8 -0.2 5.4 -5.1 -5.1 3.8 7.9 -2.4 5.3 20

 21 FA153020005 Checkable deposits and currency 1980.7 1097.6 1352.7 1762.3 763.9 511.4 656.8 1667.2 1436.6 21

 22 FA153030005 Time and savings deposits 543.7 788.7 1979.3 -275.8 391.7 1059.6 87.5 -1366.9 -1557.5 22

 23 FA153034005 Money market fund shares 428.4 101.4 555.8 28.4 -398.0 219.5 -119.0 107.3 76.0 23

 24 FA154022005 Debt securities -625.4 -867.5 -3083.3 166.9 199.0 -752.5 465.3 1661.3 1588.1 24

 25 FA153061105 Treasury securities -347.8 -679.5 -1932.7 -391.5 292.4 -686.3 692.2 529.1 1450.8 25

 26 FA153061705 Agency- and GSE-backed securities -298.4 22.6 -252.6 351.8 -180.9 172.0 269.4 599.4 973.5 26

 27 FA153062005 Municipal securities -30.0 -102.4 -94.3 -82.1 -89.6 -143.6 -126.1 146.2 28.1 27

 28 FA153063005 Corporate and foreign bonds 50.8 -108.1 -803.6 288.7 177.1 -94.7 -370.1 386.6 -864.3 28

 29 FA154023005 Loans 113.0 96.4 53.9 64.4 203.6 63.8 523.3 -223.8 -227.7 29

 30 FA153069005 Other loans and advances (5) 117.8 92.0 47.2 61.8 199.7 59.3 526.6 -218.9 -224.4 30

 31 FA153065005 Mortgages -1.6 6.1 7.6 5.2 5.8 5.7 -1.5 -3.4 -1.2 31

 32 FA163066223 Consumer credit (student loans) -3.2 -1.6 -0.9 -2.6 -1.9 -1.1 -1.8 -1.5 -2.1 32

 33 FA153064105 Corporate equities (6) 616.3 726.7 931.2 1364.3 474.3 136.9 991.8 302.4 -431.5 33

 34 FA153064205 Mutual fund shares -188.4 514.6 469.5 73.7 303.8 1211.3 -700.2 -1299.5 -380.6 34

 35 FA163070005 Trade receivables 8.8 8.2 8.2 8.2 8.2 8.2 8.5 8.5 8.5 35

 36 FA153040005 Life insurance reserves 94.2 31.0 -7.1 39.1 76.6 15.2 1.3 55.5 58.4 36

 37 FA153050005 Pension entitlements (7) 509.0 325.2 232.3 254.9 432.2 381.2 409.4 374.2 417.0 37

 38 FA152090205 Equity in noncorporate business 53.2 -5.9 -18.2 54.6 9.9 -70.1 -91.7 -31.5 -5.4 38

 39 FA153090005 Miscellaneous assets 79.9 53.5 56.8 35.0 106.1 16.2 49.2 90.4 131.3 39

 40 FA154190005 Net increase in liabilities 625.1 1241.8 1159.9 1260.5 1117.3 1429.3 1493.1 1345.7 1169.4 40

 41 FA163162003 Debt securities (municipal securities) -9.9 -1.6 2.3 -0.6 -4.2 -3.9 8.3 -9.5 -2.5 41

 42 FA154123005 Loans 628.1 1235.0 1142.2 1257.5 1114.7 1425.4 1470.8 1351.5 1164.8 42

 43 FA153165105 One-to-four-family residential mortgages (8) 449.2 839.2 608.6 886.6 913.5 948.1 1014.2 1027.2 804.8 43

 44 FA153166000 Consumer credit -12.0 246.0 174.8 275.3 231.3 302.5 372.5 391.7 321.5 44

 45 FA153168005 Depository institution loans n.e.c. (9) 20.5 53.1 -1.4 5.4 52.9 155.7 53.3 84.2 42.1 45

 46 FA153169005 Other loans and advances 169.0 95.6 359.2 89.1 -84.0 18.1 29.3 -153.1 -5.1 46

 47 FA163165505 Commercial mortgages 1.4 1.1 1.1 1.1 1.1 1.1 1.5 1.5 1.5 47

 48 FA163170005 Trade payables 6.9 6.9 6.9 6.9 6.9 6.9 6.9 6.9 6.9 48

 49 FA543077073 Deferred and unpaid life insurance premiums 0.1 1.5 8.5 -3.3 -0.1 0.8 7.0 -3.2 0.1 49

 50 FA157005005 Discrepancy -326.1 223.8 2368.7 -781.6 -175.3 -516.7 -499.1 161.0 320.0 50

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary table B.101.n shows estimates of annual 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 66.

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

(6) Directly held corporate equities, including closed-end fund, exchange-traded fund, and real estate investment trust shares.

(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 (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 I).
Transactions

Z.1, December 9, 2022 17

F.102 Nonfinancial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA146110005 Income before taxes 3254.5 4068.3 3800.1 4190.6 4160.5 4122.0 4288.7 4528.9 4384.1 1

 2 FA146000105 Gross saving less net capital transfers paid 2481.2 2857.7 2711.3 2835.0 2956.0 2928.4 2939.5 3099.4 3449.1 2

 3 FA145090005 Gross investment 2478.7 2830.8 2631.0 2592.7 2986.9 3112.7 2913.1 3088.7 3531.6 3

 4 FA145050005 Capital expenditures 2387.3 2642.8 2472.4 2481.1 2649.9 2968.0 3422.0 3079.3 3174.2 4

 5 FA145019005 Fixed investment 2443.0 2655.5 2558.6 2643.0 2689.7 2730.7 2842.7 2919.3 3001.5 5

 6 FA145012005 Residential 151.5 174.2 166.7 173.6 183.0 173.8 191.1 207.3 204.9 6

 7 FA145013005 Nonresidential 2291.6 2481.3 2392.0 2469.4 2506.7 2556.9 2651.6 2711.9 2796.7 7

 8 FA145020005 Change in inventories -55.8 -19.1 -101.8 -159.4 -55.2 240.0 257.4 145.4 84.9 8

 9 FA105420005 Nonproduced nonfinancial assets 0.0 6.4 15.5 -2.5 15.3 -2.7 321.9 14.7 87.8 9

 10 FA145000005 Net lending (+) or net borrowing (-) 91.4 188.0 158.6 111.6 337.1 144.7 -508.9 9.4 357.4 10

 11 FA144090005 Net acquisition of financial assets 880.9 1680.0 1569.1 1113.9 1766.6 2270.3 1844.9 1829.1 671.2 11

 12 FA103091003 Foreign deposits 4.0 23.8 104.0 130.4 -132.7 -6.5 102.4 -113.2 -13.4 12

 13 FA143020005 Checkable deposits and currency 494.4 219.6 195.1 -131.8 431.9 383.2 204.0 -596.7 -966.5 13

 14 FA143030005 Time and savings deposits 161.6 94.1 26.8 84.6 189.5 75.4 148.5 -19.1 56.7 14

 15 FA143034005 Money market fund shares 131.3 103.3 194.8 80.4 6.0 132.2 -60.7 -2.9 -2.0 15

 16 FA102051003 Security repurchase agreements 23.6 -11.9 -58.8 55.7 -36.7 -7.6 10.6 -19.9 -9.3 16

 17 FA144022005 Debt securities 38.9 27.0 -74.9 100.7 26.8 55.5 -37.9 128.6 -114.4 17

 18 FA103069100 Commercial paper 33.3 2.1 -43.7 130.8 -82.3 3.8 -75.4 59.6 -147.0 18

 19 FA143061105 Treasury securities 10.2 19.1 -20.3 -23.7 80.9 39.6 29.5 57.4 30.4 19

 20 FA103061703 Agency- and GSE-backed securities 3.6 5.0 -12.2 -6.5 26.9 11.7 7.2 10.2 1.1 20

 21 FA143062005 Municipal securities -8.1 0.8 1.4 0.1 1.2 0.4 0.8 1.3 1.0 21

 22 FA144023005 Loans 12.3 10.5 25.0 -62.7 13.4 66.2 20.9 -58.4 9.5 22

 23 FA143065005 Mortgages 12.3 10.4 12.4 7.3 12.0 10.1 11.9 12.1 10.7 23

 24 FA143066005 Consumer credit -0.0 0.0 12.5 -70.0 1.5 56.1 9.0 -70.5 -1.2 24

 25 FA103064103 Corporate equities -136.0 -102.8 -94.2 -101.9 -102.1 -113.0 -102.8 -102.8 -102.8 25

 26 FA103064203 Mutual fund shares 11.0 23.1 23.1 23.1 23.1 23.1 23.1 23.1 23.1 26

 27 FA143070005 Trade receivables -90.0 598.7 642.9 628.9 392.1 730.9 808.5 894.0 -122.8 27

 28 FA103092005 U.S. direct investment abroad 182.6 308.0 297.9 486.7 154.8 292.6 203.8 375.3 103.8 28

 29 FA143090005 Miscellaneous assets 47.1 386.7 287.4 -180.1 800.7 638.7 524.4 1321.2 1809.4 29

 30 FA144194005 Net increase in liabilities and equity 789.5 1492.0 1410.5 1002.3 1429.5 2125.7 2353.8 1819.7 313.8 30

 31 FA144190005 Net increase in liabilities 705.9 1491.2 1194.7 893.3 1429.8 2446.9 2727.4 2370.0 800.9 31

 32 FA104122005 Debt securities 655.1 215.4 285.0 287.1 385.0 -95.4 157.6 87.8 153.8 32

 33 FA103169100 Commercial paper -62.3 6.0 -212.4 124.2 51.8 60.5 -26.8 268.7 151.6 33

 34 FA103162000 Municipal securities 5.1 10.5 10.6 14.5 20.5 -3.4 20.7 11.1 -10.2 34

 35 FA103163003 Corporate bonds 712.4 198.9 486.9 148.4 312.7 -152.5 163.7 -192.0 12.4 35

 36 FA144123005 Loans 845.2 667.4 587.4 144.3 563.8 1374.1 1307.2 1392.6 885.9 36

 37 FA143168005 Depository institution loans n.e.c. 251.1 -123.8 33.1 -513.9 -368.0 353.7 316.1 585.8 280.0 37

 38 FA143169005 Other loans and advances 284.1 361.8 234.0 284.9 478.6 449.8 486.1 252.7 179.6 38

 39 FA143165005 Mortgages 310.0 429.4 320.3 373.3 453.3 570.7 505.0 554.1 426.2 39

 40 FA143170005 Trade payables -182.9 509.9 488.6 409.6 319.2 822.2 764.8 635.9 -167.5 40

 41 FA143178005 Taxes payable 20.7 -18.9 -24.8 -51.5 -6.6 7.2 167.8 -179.8 -61.1 41

 42 FA143192305 Foreign direct investment: intercompany debt -64.8 19.6 20.7 -60.9 63.8 54.8 0.1 22.1 35.9 42

 43 FA143190005 Miscellaneous liabilities -567.5 97.7 -162.2 164.6 104.5 284.0 329.8 411.4 -45.9 43

 44 FA143181105 Net equity issues 83.5 0.8 215.7 109.0 -0.3 -321.2 -373.6 -550.4 -487.1 44

 45 FA103164103 Corporate equities -121.6 -338.1 -37.9 -281.0 -384.7 -648.9 -615.8 -741.1 -770.6 45

 46 FA112090205 Equity in noncoporate business 46.3 -21.7 -32.0 37.8 3.3 -96.0 -47.0 -27.3 -19.9 46

 47 FA143192105 Foreign direct investment: equity 158.8 360.6 285.6 352.2 381.1 423.7 289.3 218.1 303.3 47

 48 FA107005005 Discrepancy 2.5 26.8 80.3 242.3 -30.9 -184.3 26.4 10.7 -82.6 48

(1) Combined statement for nonfinancial corporate business and nonfinancial noncorporate business.
Transactions

18 Z.1, December 9, 2022

F.103 Nonfinancial Corporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA106060005 Profits before tax 1455.6 2140.7 1972.2 2242.2 2194.2 2154.4 2298.2 2507.0 2334.0 1

 2 FA106231005 - Taxes on corporate income 204.0 280.9 254.6 278.7 275.6 314.9 395.9 399.7 360.0 2

 3 FA106121075 - Net dividends 850.2 1042.2 972.8 1071.1 998.3 1126.5 960.4 939.8 925.4 3

 4 FA105020601 + Inventory valuation adjustment (IVA) -26.4 -256.9 -249.4 -326.3 -262.4 -189.4 -246.9 -269.1 -58.8 4

 5 FA106300015 + Capital consumption allowance (1) 1664.1 1761.5 1712.9 1747.3 1777.8 1808.1 1788.3 1815.9 1843.6 5

 6 FA106006065 + Foreign earnings retained abroad 90.9 127.7 126.0 135.1 64.0 185.5 30.1 49.8 94.0 6

 7 FA105440005 - Net capital transfers paid (2) 13.6 -9.8 -0.6 -0.5 -37.9 -0.3 -0.4 103.7 -35.2 7

 8 FA106000105 = Gross savings less net capital transfers paid 2116.4 2459.8 2334.9 2449.0 2537.6 2517.7 2513.8 2660.4 2962.4 8

 9 FA105090005 Gross investment 2113.9 2432.9 2254.6 2206.7 2568.5 2702.0 2487.5 2649.7 3045.0 9

 10 FA105050005 Capital expenditures 1954.0 2155.5 2013.5 2010.8 2159.9 2437.6 2868.8 2537.5 2636.0 10

 11 FA105019005 Fixed investment (3) 1998.2 2163.7 2084.3 2148.7 2190.8 2231.0 2321.5 2392.1 2467.9 11

 12 FA105020005 Inventory change + IVA -44.2 -14.6 -86.3 -135.3 -46.3 209.4 225.4 130.8 80.3 12

 13 FA105420005 Nonproduced nonfinancial assets 0.0 6.4 15.5 -2.5 15.3 -2.7 321.9 14.7 87.8 13

 14 FA105000005 Net lending (+) or net borrowing (-) 159.9 277.5 241.0 195.8 408.6 264.4 -381.3 112.2 409.0 14

 15 FA104090005 Net acquisition of financial assets 394.8 1390.6 1266.5 858.5 1567.4 1870.1 1401.6 1449.4 363.7 15

 16 FA103091003 Foreign deposits 4.0 23.8 104.0 130.4 -132.7 -6.5 102.4 -113.2 -13.4 16

 17 FA103020000 Checkable deposits and currency 432.5 141.3 154.3 -191.3 354.6 247.7 76.2 -649.7 -947.5 17

 18 FA103030003 Time and savings deposits 76.7 -1.3 -12.5 25.1 104.2 -122.0 -25.8 -17.4 59.8 18

 19 FA103034000 Money market fund shares 122.2 101.0 191.7 78.8 3.8 129.6 -63.3 -12.7 -8.3 19

 20 FA102051003 Security repurchase agreements 23.6 -11.9 -58.8 55.7 -36.7 -7.6 10.6 -19.9 -9.3 20

 21 FA104022005 Debt securities 35.9 24.4 -82.5 104.0 27.3 48.7 -41.8 107.4 -136.2 21

 22 FA103069100 Commercial paper 33.3 2.1 -43.7 130.8 -82.3 3.8 -75.4 59.6 -147.0 22

 23 FA103061103 Treasury securities 7.4 16.9 -27.0 -20.5 82.2 33.1 26.3 37.3 9.6 23

 24 FA103061703 Agency- and GSE-backed securities 3.6 5.0 -12.2 -6.5 26.9 11.7 7.2 10.2 1.1 24

 25 FA103062003 Municipal securities -8.4 0.3 0.4 0.3 0.4 0.1 0.1 0.3 0.1 25

 26 FA104023005 Loans 8.0 6.7 18.9 -63.5 8.3 63.1 16.3 -63.0 6.6 26

 27 FA103065003 Mortgages 8.0 6.7 6.3 6.5 6.8 7.0 7.3 7.5 7.8 27

 28 FA103066005 Consumer credit -0.0 0.0 12.5 -70.0 1.5 56.1 9.0 -70.5 -1.2 28

 29 FA103064103 Corporate equities -136.0 -102.8 -94.2 -101.9 -102.1 -113.0 -102.8 -102.8 -102.8 29

 30 FA103064203 Mutual fund shares 11.0 23.1 23.1 23.1 23.1 23.1 23.1 23.1 23.1 30

 31 FA103070005 Trade receivables -137.0 552.1 587.6 588.3 351.7 680.9 765.3 824.7 -167.1 31

 32 FA103092005 U.S. direct investment abroad (4) 182.6 308.0 297.9 486.7 154.8 292.6 203.8 375.3 103.8 32

 33 FA103090005 Miscellaneous assets -228.8 326.3 137.0 -276.9 811.3 633.8 437.5 1097.7 1555.3 33

 34 FA103072005 Of which: PPP subsidies receivable 244.4 -171.8 -172.1 -157.7 -175.6 -181.7 -106.4 -98.9 -48.5 34

 35 FA104194005 Net increase in liabilities and equity 234.9 1113.1 1025.5 662.7 1158.7 1605.7 1783.0 1337.2 -45.3 35

 36 FA104190005 Net increase in liabilities 199.2 1090.8 775.9 598.6 1158.8 1830.0 2111.1 1859.4 424.9 36

 37 FA104122005 Debt securities 655.1 215.4 285.0 287.1 385.0 -95.4 157.6 87.8 153.8 37

 38 FA103169100 Commercial paper -62.3 6.0 -212.4 124.2 51.8 60.5 -26.8 268.7 151.6 38

 39 FA103162000 Municipal securities (5) 5.1 10.5 10.6 14.5 20.5 -3.4 20.7 11.1 -10.2 39

 40 FA103163003 Corporate bonds (4) 712.4 198.9 486.9 148.4 312.7 -152.5 163.7 -192.0 12.4 40

 41 FA104123005 Loans 416.1 405.5 320.1 -18.1 442.9 877.3 811.8 893.1 512.8 41

 42 FA103168005 Depository institution loans n.e.c. 153.0 -38.3 33.0 -325.7 -131.1 270.4 234.0 500.4 241.1 42

 43 FA103169005 Other loans and advances (6) 188.1 304.5 193.5 183.6 418.3 422.7 410.6 221.8 121.5 43

 44 FA103165005 Mortgages 75.0 139.4 93.6 124.0 155.6 184.2 167.2 170.9 150.1 44

 45 FA103170005 Trade payables -155.9 451.9 395.5 365.1 270.9 776.1 723.5 601.1 -187.7 45

 46 FA103178005 Taxes payable 7.7 -23.9 -43.6 -43.7 -12.4 4.0 164.0 -106.1 -26.0 46

 47 FA103192305 Foreign direct investment: intercompany debt -63.8 19.7 21.0 -60.6 64.2 54.2 0.3 22.7 37.0 47

 48 FA103190005 Miscellaneous liabilities -660.0 22.2 -202.1 68.8 8.3 213.8 253.9 360.9 -65.1 48

 49 FA573074005 Pension fund contributions payable -2.4 -2.8 -2.5 -2.5 -3.0 -3.3 -2.7 -2.6 -3.4 49

 50 FA573073005 Claims of pension fund on sponsor -6.7 26.1 17.9 31.5 25.8 29.2 13.7 10.6 29.5 50

 51 FA103193005 Other -650.9 -1.1 -217.5 39.8 -14.5 187.9 242.9 352.9 -91.2 51

 52 FA103181105 Net equity issues 35.8 22.3 249.6 64.1 -0.1 -224.2 -328.2 -522.3 -470.1 52

 53 FA103164103 Corporate equities -121.6 -338.1 -37.9 -281.0 -384.7 -648.9 -615.8 -741.1 -770.6 53

 54 FA103192105 Foreign direct investment: equity 157.4 360.5 287.5 345.1 384.6 424.7 287.7 218.9 300.5 54

 55 FA107005005 Discrepancy 2.5 26.8 80.3 242.3 -30.9 -184.3 26.4 10.7 -82.6 55

 Memo:

 56 FA105005305 Financing gap (7) -71.5 -176.7 -195.3 -303.1 -313.7 105.5 385.1 -73.1 -232.5 56

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

(2) Table F.5, line 61.

(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) The financing gap is the difference between capital expenditures (line 10) and gross savings less net capital transfers paid less foreign earnings retained abroad (line 8 minus line 6).
Transactions

Z.1, December 9, 2022 19

F.104 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA116300005 Gross saving = consumption of fixed capital 364.8 392.7 376.4 386.0 397.7 410.7 425.7 439.0 450.6 1

 2 FA116000105 Gross saving less net capital transfers paid (1) 364.8 397.9 376.4 386.0 418.4 410.7 425.7 439.0 486.6 2

 3 FA116000105 Gross investment 364.8 397.9 376.4 386.0 418.4 410.7 425.7 439.0 486.6 3

 4 FA115050005 Capital expenditures 433.3 487.4 458.9 470.2 490.0 530.4 553.2 541.8 538.2 4

 5 FA115019005 Fixed investment (2) 444.9 491.8 474.3 494.4 498.9 499.8 521.2 527.2 533.6 5

 6 FA115020005 Change in inventories -11.6 -4.5 -15.5 -24.1 -8.9 30.6 32.0 14.6 4.6 6

 7 FA115000005 Net lending (+) or net borrowing (-) -68.5 -89.5 -82.4 -84.2 -71.6 -119.7 -127.6 -102.8 -51.6 7

 8 FA114090005 Net acquisition of financial assets 486.1 289.4 302.6 255.4 199.2 400.3 443.3 379.7 307.5 8

 9 FA113020005 Checkable deposits and currency 61.8 78.3 40.8 59.5 77.2 135.5 127.8 53.0 -18.9 9

 10 FA113030003 Time and savings deposits 85.0 95.4 39.3 59.5 85.3 197.4 174.3 -1.7 -3.1 10

 11 FA113034003 Money market funds 9.1 2.4 3.0 1.5 2.3 2.6 2.5 9.8 6.3 11

 12 FA114022005 Debt securities 3.0 2.7 7.6 -3.3 -0.5 6.8 3.9 21.2 21.9 12

 13 FA113061003 Treasury securities 2.7 2.2 6.6 -3.1 -1.3 6.6 3.3 20.1 20.9 13

 14 FA113062003 Municipal securities 0.3 0.5 1.0 -0.2 0.8 0.3 0.6 1.0 1.0 14

 15 FA114023005 Loans 4.3 3.8 6.1 0.7 5.2 3.1 4.6 4.6 2.9 15

 16 FA113065005 Mortgages 4.3 3.8 6.1 0.7 5.2 3.1 4.6 4.6 2.9 16

 17 FA113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA113070003 Trade receivables 47.1 46.6 55.3 40.6 40.4 50.0 43.1 69.3 44.3 18

 19 FA113090005 Miscellaneous assets 275.9 60.4 150.4 96.8 -10.7 4.9 86.9 223.5 254.1 19

 20 FA113076005 Insurance receivables 6.9 17.2 17.2 17.4 26.6 7.5 9.0 22.5 24.8 20

 21 FA113092405 Equity investment in GSEs (3) 0.2 1.3 0.1 2.2 0.8 1.9 0.2 0.3 3.6 21

 22 FA113072003 PPP subsidies receivable 134.8 -111.3 -79.8 -42.8 -157.9 -164.7 -88.3 -5.4 0.0 22

 23 FA113093005 Other 134.0 153.2 212.9 120.0 119.8 160.2 166.1 206.1 225.8 23

 24 FA114194005 Net increase in liabilities and equity 554.6 378.8 385.0 339.6 270.8 519.9 570.9 482.5 359.0 24

 25 FA114190005 Net increase in liabilities 506.8 400.4 418.8 294.7 271.0 616.9 616.2 510.6 376.1 25

 26 FA114123005 Loans 429.1 261.9 267.2 162.4 121.0 496.9 495.4 499.5 373.1 26

 27 FA113168005 Depository institution loans n.e.c. 98.1 -85.4 0.1 -188.2 -236.9 83.3 82.1 85.4 38.9 27

 28 FA113169005 Other loans and advances 96.1 57.3 40.5 101.3 60.3 27.1 75.5 30.9 58.0 28

 29 FA113165005 Mortgages 234.9 290.0 226.6 249.3 297.6 386.5 337.9 383.2 276.1 29

 30 FA113170005 Trade payables -27.0 58.0 93.2 44.5 48.3 46.1 41.3 34.8 20.2 30

 31 FA113178003 Taxes payable 13.1 5.0 18.8 -7.8 5.9 3.1 3.8 -73.7 -35.2 31

 32 FA115114305 Foreign direct investment: intercompany debt -1.0 -0.1 -0.3 -0.2 -0.4 0.6 -0.1 -0.6 -1.1 32

 33 FA113193003 Miscellaneous liabilities 92.5 75.5 39.9 95.8 96.2 70.2 75.9 50.5 19.1 33

 34 FA113181115 Net equity issues 47.8 -21.5 -33.9 44.9 -0.2 -97.0 -45.4 -28.1 -17.0 34

 35 FA112090205 Proprietors’ net investment 46.3 -21.7 -32.0 37.8 3.3 -96.0 -47.0 -27.3 -19.9 35

 36 FA115114103 Foreign direct investment: equity 1.4 0.2 -1.9 7.1 -3.5 -1.0 1.6 -0.8 2.9 36

(1) Net capital transfers paid from table F.5, line 62.

(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.
Transactions

20 Z.1, December 9, 2022

F.105 General Government (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA366010115 Current receipts, NIPA basis 6829.7 7844.0 7173.6 8346.6 7887.0 7968.7 8481.0 8578.6 8558.1 1

 2 FA366210005 Personal current taxes 2236.4 2661.7 2509.0 2638.5 2693.2 2806.1 3145.5 3188.5 3244.0 2

 3 FA366240005 Taxes on production and imports 1526.3 1663.4 1583.7 1676.7 1680.0 1713.2 1750.1 1775.5 1791.7 3

 4 FA366231005 Taxes on corporate income 276.1 374.4 337.7 371.7 372.9 415.3 479.7 463.0 436.3 4

 5 FA316231061 Taxes from the rest of the world 27.7 30.6 30.0 30.0 30.8 31.7 33.6 35.3 33.0 5

 6 FA366601005 Contributions for govt. social insurance 1455.0 1546.2 1496.8 1527.0 1559.5 1601.5 1640.6 1660.3 1688.0 6

 7 FA366150105 Income receipts on assets 220.5 242.0 215.7 240.8 253.2 258.5 277.8 259.4 201.8 7

 8 FA366403105 Current transfer receipts 1088.0 1323.6 1000.9 1862.5 1294.1 1136.7 1152.0 1199.6 1169.8 8

 9 FA366402105 Current surplus of government enterprises -0.1 2.1 -0.1 -0.7 3.3 5.8 1.8 -3.0 -6.4 9

 10 FA366900015 Current expenditures, NIPA basis 9773.8 10454.4 11367.3 10936.0 10056.7 9457.8 9342.7 9496.3 9660.5 10

 11 FA366901005 Consumption expenditures 3138.4 3353.7 3290.7 3327.4 3373.1 3423.8 3482.1 3573.9 3622.9 11

 12 FA366404005 Government social benefits 4220.9 4577.6 6001.6 4336.4 4092.9 3879.5 3825.9 3837.7 3857.5 12

 13 FA366403005 Other current transfer payments 932.7 1174.5 844.2 1705.4 1165.2 983.0 1009.1 1040.5 1061.2 13

 14 FA366130005 Interest payments 824.5 866.7 840.8 864.3 879.1 882.5 880.5 920.7 1004.9 14

 15 FA366402005 Subsidies 657.3 481.9 390.0 702.5 546.3 289.0 145.2 123.5 114.1 15

 16 FA366006005 Net saving, NIPA basis -2944.1 -2610.5 -4193.7 -2589.4 -2169.7 -1489.1 -861.6 -917.8 -1102.4 16

 17 FA366300005 + Consumption of fixed capital 605.9 647.1 626.1 639.4 653.2 669.7 691.2 711.2 726.4 17

 18 FA313154015 - Insurance and pension fund reserves (2) -3.6 -0.8 -0.4 -4.1 1.4 -0.1 -1.0 -2.3 -1.4 18

 19 FA365440095 - Net capital transfers (3) -10.4 37.9 214.2 -21.8 -19.7 -21.0 -21.4 -117.3 25.5 19

 20 FA366000105 = Gross saving less net capital transfers -2324.1 -2000.5 -3781.4 -1924.1 -1498.2 -798.4 -148.1 -87.0 -400.1 20

 21 FA365090005 Gross investment -2534.7 -1735.6 -2513.9 -2141.1 -1644.4 -643.3 -287.8 414.6 -923.9 21

 22 FA365019005 Fixed investment 790.5 807.0 798.0 797.0 810.1 822.9 829.3 838.9 863.7 22

 23 FA365420005 Nonproduced nonfinancial assets 13.7 8.0 -1.2 16.9 -0.9 17.2 -306.9 0.3 -72.9 23

 24 FA365000005 Net lending (+) or net borrowing (-) -3338.9 -2550.6 -3310.7 -2955.0 -2453.6 -1483.3 -810.2 -424.6 -1714.7 24

 25 FA364090005 Net acquisition of financial assets 2064.0 -692.7 -2133.7 -152.2 -1639.1 1154.4 1769.4 1213.0 -314.5 25

 26 FA313011005 U.S. official reserve assets 8.9 114.1 -8.5 1.8 450.9 12.0 3.7 4.6 -2.4 26

 27 FA363020005 Checkable deposits and currency 1417.1 -1208.1 -2195.4 -807.2 -2553.3 723.5 1193.3 633.2 -739.0 27

 28 FA363030005 Time and savings deposits -10.9 -29.8 35.5 -72.5 -33.7 -48.6 5.4 -72.4 -11.1 28

 29 FA213034003 Money market fund shares 13.5 15.3 16.3 12.2 11.3 21.4 -7.7 -2.3 1.4 29

 30 FA212051003 Security repurchase agreements 15.7 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 30

 31 FA364022005 Debt securities 219.8 332.4 33.2 808.5 339.8 148.0 270.1 734.1 293.2 31

 32 FA213069103 Open market paper -0.4 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 32

 33 FA213061105 Treasury securities 291.3 383.9 177.3 838.2 351.9 168.2 244.7 681.5 222.3 33

 34 FA363061705 Agency- and GSE-backed securities -71.4 -39.8 -84.6 -10.4 -34.0 -30.2 41.8 48.7 67.3 34

 35 FA213062003 Municipal securities 1.5 3.8 4.1 2.1 4.8 4.3 5.5 6.0 6.7 35

 36 FA363063005 Corporate and foreign bonds -1.2 -19.5 -67.7 -25.4 13.2 1.8 -26.0 -6.1 -7.2 36

 37 FA364023005 Loans 259.1 184.0 119.3 124.4 269.7 222.7 237.7 216.6 218.3 37

 38 FA363065005 Mortgages 8.3 13.7 12.0 12.6 15.9 14.2 14.9 20.7 27.2 38

 39 FA313066220 Consumer credit 61.7 55.4 78.5 74.0 48.0 21.0 40.1 68.5 67.2 39

 40 FA313069005 Other loans and advances 189.0 115.0 28.8 37.8 205.9 187.5 182.8 127.4 123.9 40

 41 FA363064105 Corporate equities -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 41

 42 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 42

 43 FA363070005 Trade receivables -1.6 42.6 49.6 3.4 50.1 67.4 42.1 31.2 49.5 43

 44 FA363078005 Taxes receivable 4.5 -131.9 -51.8 -272.5 -170.1 -33.2 10.7 -345.5 -180.9 44

 45 FA363090005 Miscellaneous assets 140.1 -19.0 -139.7 41.9 -11.6 33.4 6.2 5.8 48.7 45

 46 FA364190005 Net increase in liabilities 5402.8 1858.0 1177.0 2802.8 814.4 2637.7 2579.6 1637.7 1400.2 46

 47 FA313111303 SDR allocations 0.0 112.8 0.0 0.0 451.3 0.0 0.0 0.0 0.0 47

 48 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 FA313112003 Treasury currency -0.0 -0.1 0.0 0.0 -0.5 0.0 0.0 0.0 -1.7 49

 50 FA364122005 Debt securities 4671.4 1752.4 1183.9 2781.5 -606.1 3650.3 2493.1 1494.9 1082.0 50

 51 FA313161105 Treasury securities 4582.2 1683.8 1077.1 2677.5 -702.0 3682.7 2587.8 1441.8 1102.6 51

 52 FA313161705 Budget agency securities -1.0 -0.4 -1.5 -0.0 -1.3 1.1 -1.6 1.3 -1.5 52

 53 FA213162005 Municipal securities 90.2 69.0 108.2 104.0 97.2 -33.6 -93.2 51.8 -19.2 53

 54 FA364123005 Loans 1.0 0.5 0.7 0.0 722.0 -720.8 0.5 0.4 0.3 54

 55 FA313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

 56 FA363169005 Other loans and advances 1.0 0.5 0.7 0.0 722.0 -720.8 0.5 0.4 0.3 56

 57 FA363170005 Trade payables 82.9 118.8 96.2 128.0 113.1 137.8 135.3 154.2 84.2 57

 58 FA313140003 Insurance reserves 0.2 0.3 1.1 -3.4 3.7 -0.4 0.9 -0.3 1.0 58

 59 FA363190005 Miscellaneous liabilities 647.4 -126.7 -104.9 -103.4 130.8 -429.2 -50.2 -11.5 234.4 59

 60 FA367005005 Discrepancy 210.5 -264.9 -1267.5 216.9 146.1 -155.1 139.7 -501.5 523.8 60

 Memo:

 61 FA374090005 Net acquisition of financial assets (consolidated) (4) 1770.2 -1080.8 -2315.8 -992.5 -1995.5 980.5 1518.6 525.2 -543.8 61

 62 FA374190005 Net increase in liabilities (consolidated) (4) 5109.0 1469.8 994.8 1962.5 458.1 2463.8 2328.8 949.8 1170.8 62

(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 63 less line 12.

(4) Excludes Treasury securities and municipal securities held by state and local governments (lines 33 and 35) and federal government loans to state and local governments (line 56).
Transactions

Z.1, December 9, 2022 21

F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA316010105 Current receipts, NIPA basis 3734.1 4319.0 4058.6 4266.9 4394.8 4555.8 4962.6 5055.3 5022.6 1

 2 FA316210001 Personal current taxes 1730.4 2107.9 1965.4 2071.9 2158.8 2235.2 2564.1 2598.6 2638.6 2

 3 FA316240001 Taxes on production and imports 155.8 174.6 156.6 177.3 176.8 187.6 202.4 209.4 202.6 3

 4 FA316231001 Taxes on corporate income 201.4 278.6 249.6 281.4 278.4 304.8 313.8 353.2 334.6 4

 5 FA316231061 Taxes from the rest of the world 27.7 30.6 30.0 30.0 30.8 31.7 33.6 35.3 33.0 5

 6 FA316601001 Contributions for govt. social insurance 1434.4 1523.4 1474.8 1504.3 1536.3 1578.1 1617.1 1636.8 1664.0 6

 7 FA316150105 Income receipts on assets 115.9 135.3 109.6 134.4 146.3 150.9 169.7 151.0 92.7 7

 8 FA316403105 Current transfer receipts 67.2 67.2 71.0 66.4 65.3 66.3 63.7 75.8 62.5 8

 9 FA316402101 Current surplus of government enterprises 1.1 1.5 1.5 1.3 2.0 1.2 -1.8 -4.9 -5.4 9

 10 FA316900005 Current expenditures, NIPA basis 6691.5 7154.4 8179.0 7649.6 6709.2 6079.8 5891.6 5935.2 6060.1 10

 11 FA316901001 Consumption expenditures 1169.6 1246.8 1263.9 1249.0 1230.6 1243.7 1243.5 1248.3 1278.0 11

 12 FA316404001 Government social benefits 3403.9 3674.8 5133.6 3426.3 3174.9 2964.3 2891.2 2875.0 2870.8 12

 13 FA316403001 Other current transfer payments 932.7 1174.5 844.2 1705.4 1165.2 983.0 1009.1 1040.5 1061.2 13

 14 FA316130001 Interest payments 528.6 579.5 549.8 575.0 592.9 600.4 603.3 648.5 736.7 14

 15 FA316402001 Subsidies 656.7 478.8 387.4 693.9 545.6 288.3 144.5 122.9 113.4 15

 16 FA316006005 Net saving, NIPA basis -2957.4 -2835.3 -4120.3 -3382.7 -2314.4 -1524.0 -929.0 -879.9 -1037.5 16

 17 FA316300001 + Consumption of fixed capital 304.7 322.7 314.8 319.5 325.1 331.2 338.3 345.6 351.2 17

 18 FA313154015 - Insurance and pension reserves (1) -3.6 -0.8 -0.4 -4.1 1.4 -0.1 -1.0 -2.3 -1.4 18

 19 FA315440095 - Net capital transfers paid (2) 73.3 121.0 294.8 60.5 69.9 59.0 58.3 429.8 174.0 19

 20 FA316000105 = Gross saving less net capital transfers paid -2722.3 -2632.9 -4099.9 -3119.5 -2060.6 -1251.7 -648.1 -961.7 -858.9 20

 21 FA315090005 Gross investment -2949.5 -2370.4 -2836.5 -3257.4 -2221.9 -1166.0 -882.9 -410.7 -1468.1 21

 22 FA315019001 Fixed investment 351.0 362.4 356.3 359.0 365.0 369.1 369.6 374.4 378.9 22

 23 FA315420003 Nonproduced nonfinancial assets -2.9 -9.0 -18.0 -0.1 -18.0 -0.0 -324.3 -17.3 -90.5 23

 24 FA315000005 Net lending (+) or net borrowing (-) -3297.5 -2723.8 -3174.8 -3616.3 -2568.9 -1535.1 -928.2 -767.8 -1756.4 24

 25 FA314090005 Net acquisition of financial assets 1709.1 -1242.7 -2412.2 -1224.2 -2159.4 825.1 1432.3 502.7 -653.1 25

 26 FA313011005 U.S. official reserve assets 8.9 114.1 -8.5 1.8 450.9 12.0 3.7 4.6 -2.4 26

 27 FA313020005 Checkable deposits and currency 1326.3 -1323.9 -2274.6 -1011.5 -2654.2 644.7 1168.1 579.8 -722.9 27

 28 FA313030003 Time and savings deposits -1.3 1.4 35.5 -34.4 2.0 2.5 0.2 -3.3 0.1 28

 29 FA314022005 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 FA313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA313063763 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FA314023005 Loans 254.1 176.4 111.7 116.8 262.0 215.0 230.1 208.9 210.6 32

 33 FA313069005 Other loans and advances 189.0 115.0 28.8 37.8 205.9 187.5 182.8 127.4 123.9 33

 34 FA313065005 Mortgages 3.3 6.0 4.4 4.9 8.2 6.5 7.2 13.0 19.6 34

 35 FA313066220 Consumer credit (3) 61.7 55.4 78.5 74.0 48.0 21.0 40.1 68.5 67.2 35

 36 FA313064105 Corporate equities (4) 0.0 -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 36

 37 FA313070000 Trade receivables 11.3 10.6 29.4 1.3 7.4 4.4 11.7 -15.7 -0.2 37

 38 FA313078000 Taxes receivable -12.2 -137.2 -69.9 -260.1 -178.9 -39.7 10.8 -268.3 -149.1 38

 39 FA313090005 Miscellaneous assets 122.0 -84.1 -235.7 -38.1 -48.8 -13.7 7.7 -3.2 10.8 39

 40 FA314190005 Net increase in liabilities 5006.6 1481.1 762.6 2392.1 409.5 2360.2 2360.4 1270.6 1103.3 40

 41 FA313111303 SDR allocations 0.0 112.8 0.0 0.0 451.3 0.0 0.0 0.0 0.0 41

 42 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 FA313112003 Treasury currency -0.0 -0.1 0.0 0.0 -0.5 0.0 0.0 0.0 -1.7 43

 44 FA314122005 Debt securities 4581.2 1683.4 1075.6 2677.5 -703.3 3683.9 2586.3 1443.1 1101.2 44

 45 FA313161105 Treasury securities (5) 4582.2 1683.8 1077.1 2677.5 -702.0 3682.7 2587.8 1441.8 1102.6 45

 46 FA313161205 Marketable 4317.3 1611.4 1137.6 2466.1 183.4 2658.3 2231.8 1154.2 992.7 46

 47 FA313161305 Nonmarketable 264.9 72.5 -60.5 211.3 -885.4 1024.4 356.0 287.6 110.0 47

 48 FA313161705 Budget agency securities -1.0 -0.4 -1.5 -0.0 -1.3 1.1 -1.6 1.3 -1.5 48

 49 FA314123005 Loans 0.0 0.0 0.0 0.0 722.2 -722.2 0.0 0.0 0.0 49

 50 FA313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

 51 FA313169003 Other loans and advances 0.0 0.0 0.0 0.0 722.2 -722.2 0.0 0.0 0.0 51

 52 FA313170005 Trade payables 33.0 64.5 43.8 74.5 58.2 81.3 76.6 92.4 21.6 52

 53 FA313140003 Insurance reserves 0.2 0.3 1.1 -3.4 3.7 -0.4 0.9 -0.3 1.0 53

 54 FA313190005 Miscellaneous liabilities 392.3 -379.8 -358.0 -356.5 -122.3 -682.3 -303.3 -264.6 -18.7 54

 55 FA343073045 Claims of pension fund on sponsor -27.3 -90.1 -77.0 -157.7 215.3 -340.8 -118.6 -187.9 -11.1 55

 56 FA313172003 PPP subsidies payable 415.2 -308.9 -273.8 -232.9 -361.9 -366.9 -208.5 -111.9 -52.3 56

 57 FA313190015 Other 4.4 19.2 -7.2 34.1 24.3 25.3 23.9 35.3 44.7 57

 58 FA317005005 Discrepancy 227.1 -262.5 -1263.4 137.9 161.3 -85.7 234.8 -551.1 609.2 58

 Memo:

 59 FA314000105 Change in cash balance (6) 1324.3 -1321.2 -2319.3 -940.2 -2772.9 747.6 1017.9 739.3 -864.7 59

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

(2) Table F.5, line 64 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).
Transactions

22 Z.1, December 9, 2022

F.107 State and Local Governments

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA216010105 Current receipts, NIPA basis 3095.6 3525.0 3115.0 4079.6 3492.2 3413.0 3518.4 3523.3 3535.5 1

 2 FA216210001 Personal current taxes 506.0 553.8 543.6 566.6 534.4 570.8 581.3 589.8 605.4 2

 3 FA216240001 Taxes on production and imports 1370.5 1488.8 1427.0 1499.4 1503.2 1525.7 1547.7 1566.1 1589.1 3

 4 FA216231001 Taxes on corporate income 74.6 95.8 88.0 90.3 94.4 110.5 165.9 109.8 101.6 4

 5 FA216601001 Contributions for govt. social insurance 20.6 22.8 22.0 22.7 23.2 23.4 23.4 23.6 24.0 5

 6 FA216150105 Income receipts on assets 104.5 106.7 106.0 106.4 106.9 107.6 108.1 108.4 109.1 6

 7 FA216403105 Current transfer receipts 1020.8 1256.3 930.0 1796.2 1228.9 1070.4 1088.3 1123.7 1107.3 7

 8 FA216402101 Current surplus of government enterprises -1.3 0.5 -1.6 -2.0 1.2 4.5 3.7 1.9 -1.1 8

 9 FA216900005 Current expenditures, NIPA basis 3082.3 3300.1 3188.4 3286.4 3347.5 3378.1 3451.1 3561.2 3600.4 9

 10 FA216901001 Consumption expenditures 1968.8 2106.9 2026.7 2078.4 2142.5 2180.1 2238.5 2325.6 2344.8 10

 11 FA216404001 Govt. social benefit payments to persons 817.0 902.8 868.0 910.1 918.1 915.2 934.7 962.7 986.8 11

 12 FA216403001 Other current transfer payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA216130001 Interest payments 295.9 287.2 291.0 289.3 286.2 282.1 277.2 272.2 268.2 13

 14 FA216402001 Subsidies 0.6 3.1 2.5 8.6 0.7 0.7 0.7 0.7 0.7 14

 15 FA216006005 Net saving, NIPA basis 13.3 224.9 -73.3 793.3 144.7 34.9 67.4 -37.9 -65.0 15

 16 FA216300001 + Consumption of fixed capital 301.2 324.4 311.3 319.9 328.0 338.5 352.9 365.5 375.2 16

 17 FA215440005 - Net capital transfers paid (1) -83.7 -83.1 -80.6 -82.2 -89.6 -79.9 -79.7 -547.1 -148.5 17

 18 FA216000105 = Gross saving less net capital transfers paid 398.2 632.4 318.5 1195.4 562.3 453.4 500.0 874.8 458.8 18

 19 FA215090005 Gross investment 414.8 634.8 322.6 1116.3 577.5 522.8 595.1 825.3 544.2 19

 20 FA215019001 Fixed investment 439.6 444.6 441.7 438.0 445.1 453.8 459.7 464.5 484.8 20

 21 FA215420003 Nonproduced nonfinancial assets 16.6 17.0 16.8 16.9 17.1 17.2 17.4 17.6 17.6 21

 22 FA215000005 Net lending (+) or net borrowing (-) -41.4 173.2 -135.9 661.4 115.4 51.8 117.9 343.2 41.8 22

 23 FA214090005 Net acquisition of financial assets 354.9 550.0 278.5 1072.0 520.3 329.3 337.1 710.3 338.6 23

 24 FA213020005 Checkable deposits and currency 90.8 115.8 79.2 204.3 100.8 78.8 25.3 53.4 -16.2 24

 25 FA213030000 Time and savings deposits -9.5 -31.2 0.0 -38.1 -35.7 -51.1 5.1 -69.1 -11.2 25

 26 FA213034003 Money market fund shares 13.5 15.3 16.3 12.2 11.3 21.4 -7.7 -2.3 1.4 26

 27 FA212051003 Security repurchase agreements 15.7 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 27

 28 FA214022005 Debt securities 219.8 332.4 33.2 808.5 339.8 148.0 270.1 734.1 293.2 28

 29 FA213069103 Open market paper -0.4 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 29

 30 FA213061105 Treasury securities 291.3 383.9 177.3 838.2 351.9 168.2 244.7 681.5 222.3 30

 31 FA213061703 Agency- and GSE-backed securities -71.4 -39.8 -84.6 -10.4 -34.0 -30.2 41.8 48.7 67.3 31

 32 FA213062003 Municipal securities 1.5 3.8 4.1 2.1 4.8 4.3 5.5 6.0 6.7 32

 33 FA213063003 Corporate and foreign bonds -1.2 -19.5 -67.7 -25.4 13.2 1.8 -26.0 -6.1 -7.2 33

 34 FA213065005 Loans (mortgages) 5.0 7.7 7.7 7.7 7.7 7.7 7.7 7.7 7.6 34

 35 FA213064103 Corporate equities -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 35

 36 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 36

 37 FA213070003 Trade receivables -12.9 32.0 20.2 2.1 42.6 63.0 30.4 47.0 49.7 37

 38 FA213078005 Taxes receivable 16.7 5.3 18.1 -12.4 8.8 6.5 -0.1 -77.2 -31.7 38

 39 FA213093003 Miscellaneous assets 18.1 65.1 96.1 80.0 37.2 47.2 -1.5 9.0 38.0 39

 40 FA214190005 Net increase in liabilities 396.3 376.9 414.3 410.7 404.9 277.5 219.1 367.1 296.8 40

 41 FA213162005 Debt securities (municipal securities) 90.2 69.0 108.2 104.0 97.2 -33.6 -93.2 51.8 -19.2 41

 42 FA213162400 Short-term (2) 1.7 -13.7 -12.3 -10.8 -30.6 -0.9 -21.6 -2.7 3.4 42

 43 FA213162200 Long-term 88.5 82.6 120.6 114.8 127.8 -32.6 -71.5 54.5 -22.6 43

 44 FA213169203 Loans (U.S. government loans) 1.0 0.5 0.7 0.0 -0.3 1.5 0.5 0.4 0.3 44

 45 FA213170003 Trade payables 49.9 54.3 52.3 53.5 54.9 56.5 58.7 61.8 62.6 45

 46 FA223073045 Claims of pension fund on sponsor (3) 255.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 46

 47 FA217005005 Discrepancy -16.6 -2.4 -4.1 79.1 -15.2 -69.4 -95.1 49.5 -85.4 47

(1) Table F.5, line 65.

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

(3) Included in miscellaneous liabilities.
Transactions

Z.1, December 9, 2022 23

F.108 Domestic Financial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA796000105 Gross saving less net capital transfers paid 275.9 338.2 354.8 364.8 279.0 354.3 344.1 315.3 167.2 1

 2 FA795090005 Gross investment 435.3 711.3 1255.5 500.9 780.7 308.0 1317.6 1226.0 1095.8 2

 3 FA795019005 Capital expenditures 300.0 330.7 325.0 338.9 327.1 331.8 335.1 340.9 348.3 3

 4 FA125012063 Fixed residential investment 2.8 7.6 1.9 11.1 6.6 10.9 2.5 5.0 -0.2 4

 5 FA795013005 Fixed nonresidential investment 297.2 323.1 323.2 327.8 320.5 320.9 332.5 335.9 348.6 5

 6 FA795000005 Net lending (+) or net borrowing (-) 135.3 380.5 930.4 161.9 453.6 -23.8 982.5 885.1 747.5 6

 7 FA794090005 Net acqisition of financial assets 9831.9 7513.6 10643.8 5975.3 7588.1 5847.4 6800.2 467.7 2736.9 7

 8 FA713011005 U.S. official reserve assets 0.0 -0.1 0.1 0.1 -0.5 0.0 0.0 0.1 0.2 8

 9 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA713012003 Treasury currency 0.4 0.4 0.3 0.2 0.4 0.6 0.6 0.7 0.7 10

 11 FA793091005 Foreign deposits -14.0 -2.2 27.9 -30.5 -6.9 0.6 15.4 -56.4 16.5 11

 12 FA794010005 Net interbank assets 1506.5 609.3 2721.3 -666.6 1289.3 -906.8 -180.5 -2569.4 -340.9 12

 13 FA793020005 Checkable deposits and currency 224.6 55.0 359.0 -245.6 204.7 -98.2 -36.7 -107.8 -38.6 13

 14 FA793030005 Time and savings deposits 5.6 -130.9 -184.3 -173.5 -66.3 -99.5 -96.1 166.9 179.7 14

 15 FA793034005 Money market fund shares 171.4 198.7 358.9 153.7 193.4 88.8 43.8 -174.8 -73.4 15

 16 FA792050005 Federal funds and security repos -292.3 1116.6 -744.3 1651.5 2447.8 1111.6 15.5 819.3 892.9 16

 17 FA794022005 Debt securities 6429.1 3084.5 5160.5 2635.1 293.9 4248.3 2805.7 -140.3 -202.9 17

 18 FA793069175 Open market paper -45.0 19.2 95.0 -80.7 230.0 -167.5 -41.4 218.0 401.9 18

 19 FA793061105 Treasury securities 4561.5 1320.7 2089.6 1691.6 -1745.8 3247.6 913.7 40.5 -1084.6 19

 20 FA793061705 Agency- and GSE-backed securities 1017.7 641.8 1107.1 249.5 847.0 363.4 770.4 -109.7 -127.6 20

 21 FA793062005 Municipal securities 117.2 174.0 202.5 199.2 196.3 97.8 44.6 -102.6 -39.5 21

 22 FA793063005 Corporate and foreign bonds 777.7 928.8 1666.2 575.5 766.5 707.0 1118.5 -186.5 646.8 22

 23 FA794023005 Loans 1134.7 1791.7 1820.6 1348.6 2019.1 1978.6 2667.9 3026.6 2504.0 23

 24 FA793068005 Depository institution loans n.e.c. 413.7 128.2 114.3 -182.1 -176.8 757.5 260.7 851.2 422.4 24

 25 FA793069005 Other loans and advances 48.4 240.9 747.0 31.2 702.3 -517.0 568.4 210.4 600.0 25

 26 FA793065005 Mortgages 743.2 1230.4 874.6 1225.6 1309.8 1511.6 1513.6 1569.8 1224.0 26

 27 FA793066005 Consumer credit -70.6 192.2 84.7 273.9 183.8 226.5 325.2 395.2 257.6 27

 28 FA793064105 Corporate equities -372.3 86.1 220.6 66.7 -115.9 173.2 319.7 -215.6 -141.3 28

 29 FA793064205 Mutual fund shares -52.2 -328.9 -185.5 -312.7 -139.1 -678.3 -77.8 -269.2 -261.0 29

 30 FA793070005 Trade receivables 41.1 35.8 45.3 53.1 46.6 -2.0 47.5 57.8 26.0 30

 31 FA793040005 Life insurance reserves 15.7 39.5 34.5 44.9 35.5 43.2 15.7 24.0 24.0 31

 32 FA543050005 Pension entitlements 91.6 88.5 88.5 88.5 88.5 88.5 17.1 19.7 13.6 32

 33 FA793092005 U.S. direct investment abroad 49.4 70.7 78.9 71.1 49.9 83.0 127.9 40.6 97.6 33

 34 FA793090005 Miscellaneous assets 892.6 798.9 841.6 1290.7 1247.7 -184.4 1114.3 -154.7 39.9 34

 35 FA794194005 Net increase in liabilities and equity 9696.7 7133.1 9713.3 5813.4 7134.5 5871.2 5817.7 -417.5 1989.4 35

 36 FA794190005 Net increase in liabilities 9181.5 6253.3 8640.3 4782.4 6456.9 5133.6 5278.4 -1026.7 1550.8 36

 37 FA794110005 Net interbank liabilities 1546.3 693.3 2623.6 -1074.2 1973.8 -750.1 449.0 -3019.8 88.6 37

 38 FA793120005 Checkable deposits and currency 4272.3 230.7 -267.5 742.0 -1253.3 1701.6 1986.1 1694.6 -437.9 38

 39 FA703130005 Time and savings deposits 795.5 758.2 1952.5 -422.1 480.1 1022.4 342.9 -1404.1 -1204.0 39

 40 FA634090005 Money market fund shares 763.5 439.5 1155.7 304.7 -186.7 484.4 -157.6 -79.7 8.2 40

 41 FA792150005 Federal funds and security repos -251.4 1732.5 -90.6 3266.0 2719.0 1035.8 -354.9 1743.9 772.8 41

 42 FA794122005 Debt securities 951.7 799.1 690.3 857.6 591.6 1057.0 1683.2 1216.5 970.9 42

 43 FA793169175 Open market paper 23.0 -46.2 35.0 -341.2 -9.1 130.6 400.9 143.2 59.2 43

 44 FA423161705 Agency- and GSE-backed securities 658.2 612.9 699.6 600.9 566.3 584.7 1040.8 948.5 1050.9 44

 45 FA793163005 Corporate and foreign bonds 270.6 232.4 -44.3 597.9 34.4 341.7 241.6 124.8 -139.2 45

 46 FA794123005 Loans 53.6 152.7 318.5 46.1 103.9 142.4 712.2 152.4 282.7 46

 47 FA793168005 Depository institution loans n.e.c. 75.8 46.5 12.8 216.5 -48.5 5.2 -122.7 14.1 -49.8 47

 48 FA793169005 Other loans and advances -24.0 115.4 329.1 -160.1 176.9 115.6 816.6 121.8 304.5 48

 49 FA123165005 Mortgages 1.8 -9.1 -23.4 -10.3 -24.5 21.6 18.3 16.5 28.1 49

 50 FA653164205 Mutual fund shares -229.1 215.7 357.3 166.7 308.4 30.5 -444.3 -1155.1 -573.2 50

 51 FA793170005 Trade payables 102.0 89.7 90.4 70.7 92.4 105.3 32.3 25.9 52.3 51

 52 FA543140005 Life insurance reserves 85.0 48.0 4.1 65.3 86.2 36.6 14.9 75.3 77.4 52

 53 FA583150005 Pension entitlements 540.0 369.7 276.8 299.4 476.7 425.7 418.8 385.1 424.5 53

 54 FA793178005 Taxes payable -6.6 -9.8 -29.2 -28.1 14.4 3.9 -208.3 -74.6 -82.0 54

 55 FA793192305 Foreign direct investment: intercompany debt 6.1 4.9 -1.4 10.1 -31.0 41.9 1.2 -40.2 -40.7 55

 56 FA793190005 Miscellaneous liabilities 552.6 728.9 1559.7 478.2 1081.3 -203.8 802.9 -547.0 1211.3 56

 57 FA793181125 Net equity issues 515.2 879.8 1073.0 1030.9 677.5 737.6 539.3 609.3 438.7 57

 58 FA793164105 Corporate equities 499.4 843.8 1050.6 1012.6 585.1 727.1 576.3 526.0 365.0 58

 59 FA662090003 Equity in noncorporate business 6.9 15.8 13.8 16.8 6.6 25.9 -44.7 -4.2 14.4 59

 60 FA793192105 Foreign direct investment: equity 9.0 20.1 8.6 1.5 85.8 -15.4 7.7 87.4 59.3 60

 61 FA797005005 Discrepancy -159.3 -373.0 -900.7 -136.0 -501.7 46.3 -973.5 -910.7 -928.6 61

(1) Sum of financial sectors shown on tables F.109 through F.132.
Transactions

24 Z.1, December 9, 2022

F.109 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA716000105 Gross saving 3.3 4.4 -2.3 5.3 8.5 6.3 6.5 6.5 6.5 1

 2 FA715013005 Fixed nonresidential investment 0.9 0.9 0.9 0.9 1.0 1.0 1.0 1.0 1.1 2

 3 FA714090005 Net acquisition of financial assets 3083.6 1480.7 1551.9 1593.2 1524.1 1253.6 719.0 -169.1 -526.6 3

 4 FA713011005 U.S. official reserve assets 0.0 -0.1 0.1 0.1 -0.5 0.0 0.0 0.1 0.2 4

 5 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA713012003 Treasury currency 0.4 0.4 0.3 0.2 0.4 0.6 0.6 0.7 0.7 6

 7 FA713022003 Federal Reserve float 0.1 -0.0 -1.9 -0.0 1.5 0.5 -0.4 -0.4 1.6 7

 8 FA713068705 Interbank loans 44.5 -31.3 -12.8 1.8 -100.7 -13.5 -17.9 3.1 8.6 8

 9 FA713068703 Discount window (2) 1.6 -1.0 -3.1 -1.3 1.3 -1.1 0.1 7.4 19.1 9

 10 FA763069143 AMLF and MMLF loans (3) 2.0 -2.0 -7.5 -0.4 0.0 0.0 0.0 0.0 0.0 10

 11 FA713068725 PPPLF loans (4) 41.0 -28.3 -2.2 3.6 -102.0 -12.4 -18.0 -4.3 -10.5 11

 12 FA712051000 Security repurchase agreements -255.6 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 12

 13 FA714022005 Debt securities 3217.0 1537.1 1610.4 1486.6 1707.1 1344.3 782.3 -150.0 -523.0 13

 14 FA713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA713061103 Treasury securities 2554.3 961.6 1017.8 958.9 1001.7 867.8 400.2 -107.5 -467.6 15

 16 FA713061113 Treasury bills 157.5 0.0 0.2 0.1 -0.0 -0.2 -1.1 -2.9 -68.4 16

 17 FA713061125 Other Treasury securities 2396.8 961.5 1017.6 958.8 1001.7 868.0 401.3 -104.7 -399.2 17

 18 FA713061705 Agency- and GSE-backed securities 662.7 575.5 592.6 527.6 705.4 476.5 382.0 -42.5 -55.5 18

 19 FA713061903 Mortgage-backed securities 662.7 575.6 592.6 527.7 705.4 476.5 382.1 -42.5 -55.5 19

 20 FA713061703 Other agency- and GSE-baked securities -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 20

 21 FA713068005 Loans (depository institution loans n.e.c.) 52.2 -10.1 26.0 109.8 -84.4 -91.6 -32.3 -22.6 -9.3 21

 22 FA713068813 Households (TALF I) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA713068665 Brokers and dealers (6) 2.1 -2.1 -8.0 -0.5 0.0 0.0 0.0 0.0 0.0 23

 24 FA713068863 Finance companies (PPPLF) (4) 9.4 11.7 41.0 118.4 -24.0 -88.7 -23.4 -18.1 -5.3 24

 25 FA713068505 Other financial business (7) 40.7 -19.6 -7.0 -8.2 -60.4 -3.0 -8.9 -4.5 -4.0 25

 26 FA713064103 Corporate equities (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA713090005 Miscellaneous assets 25.0 -15.3 -70.1 -5.2 0.8 13.3 -13.3 0.1 -5.4 27

 28 FA713091103 Nonofficial foreign currencies (9) 14.2 -14.5 -61.5 -7.8 -1.0 12.0 -11.9 -0.1 -0.2 28

 29 FA713093005 Other 10.8 -0.8 -8.6 2.5 1.7 1.3 -1.4 0.2 -5.2 29

 30 FA714190005 Net increase in liabilities 3083.7 1480.7 1554.1 1593.2 1522.6 1253.1 717.8 -171.1 -526.5 30

 31 FA713113003 Depository institution reserves 1446.1 649.3 2711.1 -644.3 1390.5 -859.9 -187.5 -2568.0 -322.4 31

 32 FA703025005 Vault cash of depository institutions 15.8 -8.7 25.0 -24.0 -1.9 -33.8 25.3 -4.2 -28.6 32

 33 FA713120005 Checkable deposits and currency 1738.4 -1128.2 -1615.8 -1202.9 -2637.7 943.7 1214.4 702.0 -905.7 33

 34 FA713123005 Due to federal government 1324.6 -1322.4 -2353.3 -913.9 -2771.4 748.9 1017.3 742.0 -865.8 34

 35 FA713123023 Treasury cash holdings -0.1 0.0 0.2 -0.2 0.0 0.1 0.0 0.1 0.0 35

 36 FA713123030 Treasury general deposit account 1324.7 -1322.5 -2353.5 -913.7 -2771.4 748.8 1017.3 741.9 -865.8 36

 37 FA713123043 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 FA713124005 Due to government-sponsored enterprises 38.5 -17.1 332.2 -421.8 18.2 3.0 -16.6 -15.4 -22.4 38

 39 FA713129005 Due to other financial business (10) 93.0 67.6 126.2 61.3 33.3 49.7 77.9 -82.7 -59.7 39

 40 FA713122605 Due to rest of the world 16.7 -12.5 45.5 -111.8 1.8 14.5 -7.4 -0.1 -0.1 40

 41 FA713125005 Currency outside banks 265.7 156.2 233.6 183.2 80.4 127.7 143.1 58.2 42.2 41

 42 FA712151003 Security repurchase agreements -120.6 1967.0 544.5 3635.0 2577.0 1111.5 -248.2 1921.0 476.8 42

 43 FA712151103 Reverse repurchase agreement operations (11) -54.4 1894.9 498.6 3430.5 2451.8 1198.8 -130.4 1831.1 384.7 43

 44 FA712151115 Other (12) -66.2 72.1 45.9 204.5 125.2 -87.3 -117.8 89.9 92.2 44

 45 FA713190005 Miscellaneous liabilities 4.0 1.3 -110.6 -170.6 194.7 91.6 -86.2 -221.9 253.4 45

 46 FA313094213 Treasury contributions to MMLF 1.5 -1.5 0.0 -6.0 0.0 0.0 0.0 0.0 0.0 46

 47 FA713164003 Federal Reserve Bank stock 0.7 1.5 0.4 1.4 1.1 3.2 1.8 2.4 0.6 47

 48 FA713193005 Other 1.8 1.3 -111.0 -166.0 193.7 88.4 -88.0 -224.3 252.8 48

 49 FA717005005 Discrepancy 2.5 3.5 -1.0 4.4 6.0 4.8 4.3 3.4 5.5 49

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

(3) Loans extended to U.S.-chartered depository institutions through the 2008-2010 Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) and the

 2020 Money Market Mutual Fund Liquidity Facility (MMLF). The AMLF was dissolved in 2010:Q1.

(4) Loans extended to depository institutions (line 11) and finance companies (line 24) through the Paycheck Protection Program Liquidity Facility (PPPLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the 2008 Term Asset-Backed Securities Loan Facility (TALF I).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF), AMLF (2008-2010), and MMLF (2020).

(7) Loans extended to Federal Reserve funding, credit, and liquidity facility special purpose vehicles created in response to the 2008 Financial Crisis and COVID-19 pandemic.

(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 Assuance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. Series is zero after 2010:Q4.

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

(10) Deposits of designated financial market utilities (DFMU) and deposits of Federal Reserve facility LLC’s special purpose vehicles.

(11) 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).

(12) Includes reverse repurchase agreements conducted through the Federal Reserve’s Foreign Repo Pool.
Transactions

Z.1, December 9, 2022 25

F.110 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA706000105 Gross saving less net capital transfers paid -76.7 -125.8 -117.9 -116.9 -130.3 -138.1 -126.1 -54.9 -117.1 1

 2 FA705013005 Fixed nonresidential investment 70.8 76.8 84.5 82.5 72.0 68.3 70.3 68.3 71.7 2

 3 FA705000005 Net lending (+) or net borrowing (-) 80.5 189.9 449.6 -72.2 448.9 -66.7 305.8 555.6 501.1 3

 4 FA704090005 Net acquisition of financial assets 3231.7 2386.2 4294.9 508.1 3061.0 1680.7 2413.8 -304.4 870.9 4

 5 FA703025005 Vault cash 15.8 -8.7 25.0 -24.0 -1.9 -33.8 25.3 -4.2 -28.6 5

 6 FA713113003 Reserves at Federal Reserve 1446.1 649.3 2711.1 -644.3 1390.5 -859.9 -187.5 -2568.0 -322.4 6

 7 FA702050005 Federal funds and security repos 124.1 -285.3 -1039.7 -104.0 42.5 -39.9 -53.4 -29.9 154.2 7

 8 FA704022005 Debt securities 1092.5 1335.9 2185.8 923.3 1025.9 1208.5 1085.0 46.7 -556.2 8

 9 FA703069175 Open market paper 1.6 -2.1 -8.2 -0.8 -0.3 1.1 0.8 -0.4 -1.2 9

 10 FA703061105 Treasury securities 303.2 467.4 415.3 341.2 384.9 728.0 370.3 267.3 -217.8 10

 11 FA703061705 Agency- and GSE-backed securities 694.0 605.9 1190.6 421.1 482.3 329.5 245.6 -287.6 -459.6 11

 12 FA703062005 Municipal securities 72.3 54.4 76.0 58.7 51.8 31.2 55.5 54.5 -4.3 12

 13 FA703063005 Corporate and foreign bonds 21.5 210.3 512.2 103.0 107.2 118.7 412.8 12.9 126.7 13

 14 FA704023005 Loans 369.2 519.8 34.4 73.3 462.0 1509.7 982.2 2101.9 1434.8 14

 15 FA703068005 Depository institution loans n.e.c. 361.5 138.3 88.3 -291.9 -92.4 849.1 293.0 873.9 431.7 15

 16 FA703069005 Other loans and advances 3.0 1.9 -2.2 -5.3 10.8 4.3 -16.7 0.2 -2.2 16

 17 FA703065005 Mortgages 87.7 212.5 -85.8 135.1 378.7 422.1 374.6 818.6 752.6 17

 18 FA703066005 Consumer credit -83.0 167.1 34.1 235.5 164.7 234.1 331.4 409.2 252.6 18

 19 FA703064105 Corporate equities 2.9 2.4 4.1 3.8 -2.4 4.0 2.3 -7.7 -0.9 19

 20 FA703064205 Mutual fund shares 2.4 3.6 6.2 9.9 -10.9 9.2 -0.5 -4.8 8.8 20

 21 FA763040005 Life insurance reserves 6.1 13.3 8.3 18.7 9.3 17.0 8.6 7.7 8.8 21

 22 FA763092000 U.S. direct investment abroad 1.4 9.5 -1.9 36.9 -8.7 11.6 17.7 1.2 15.5 22

 23 FA703090005 Miscellaneous assets 171.1 146.3 361.6 214.5 154.8 -145.5 534.1 152.8 157.0 23

 24 FA704194005 Net increase in liabilities and equity 3151.2 2196.2 3845.3 580.3 2612.1 1747.3 2108.0 -860.0 369.8 24

 25 FA704190005 Net increase in liabilities 3141.4 2195.6 3847.8 602.0 2579.5 1753.2 2134.8 -877.8 367.1 25

 26 FA704110005 Net interbank liabilities 84.4 52.6 -112.4 -405.9 585.3 143.6 611.2 -447.6 439.7 26

 27 FA703127005 Checkable deposits 2533.9 1358.9 1348.3 1944.9 1384.4 757.9 771.7 992.6 467.8 27

 28 FA703130005 Time and savings deposits 795.5 758.2 1952.5 -422.1 480.1 1022.4 342.9 -1404.1 -1204.0 28

 29 FA702150005 Federal funds and security repos -1.2 -27.4 186.9 -249.3 137.2 -184.3 126.6 -170.1 -31.0 29

 30 FA704122005 Debt securities 103.1 -99.8 -69.5 -228.7 -155.6 54.5 232.3 246.6 14.2 30

 31 FA703169175 Open market paper 48.4 -50.5 -29.0 -127.6 -87.8 42.6 164.9 164.7 8.4 31

 32 FA763163005 Corporate bonds 54.8 -49.4 -40.5 -101.1 -67.8 11.9 67.5 81.9 5.8 32

 33 FA703169005 Loans (other loans and advances) -241.6 -67.0 32.7 -247.2 -42.7 -10.8 195.2 413.7 569.8 33

 34 FA763178000 Taxes payable (net) -11.2 -8.9 -45.4 -7.5 9.9 7.5 -206.2 -59.2 -72.8 34

 35 FA753192305 Foreign direct investment: intercompany debt -2.3 -1.9 -1.8 -7.2 0.1 1.5 -0.9 -0.8 -1.9 35

 36 FA703190005 Miscellaneous liabilities -119.3 230.8 556.5 225.0 180.6 -39.2 62.0 -448.7 185.4 36

 37 FA763194603 Equity investment by holding company parent 106.9 123.4 83.9 213.7 103.2 93.0 -261.3 -254.8 -218.5 37

 38 FA763194705 Other investment by holding company parent -39.4 24.0 19.9 32.2 40.3 3.7 -59.6 24.0 -10.5 38

 39 FA753194503 Investment by other financial business -27.6 16.6 169.2 -69.8 36.0 -69.0 94.7 -106.6 44.1 39

 40 FA703193005 Other -159.2 66.7 283.5 49.0 1.2 -66.8 288.3 -111.3 370.2 40

 41 FA703181125 Net equity issues 9.8 0.6 -2.5 -21.7 32.6 -5.9 -26.9 17.8 2.6 41

 42 FA763164103 Corporate equities 1.9 2.3 -1.4 6.4 15.1 -10.9 -26.6 9.0 3.9 42

 43 FA753192103 Foreign direct investment: equity 7.9 -1.7 -1.1 -28.1 17.6 5.0 -0.2 8.8 -1.3 43

 44 FA707005005 Discrepancy -228.0 -392.5 -652.0 -127.2 -651.2 -139.7 -502.2 -678.8 -689.9 44

 Memo:

 45 FA763066303 Consumer leases not included above (2) 0.3 0.1 -0.4 0.6 -0.1 0.5 -1.7 -3.1 -3.0 45

 46 FA703139105 Uninsured deposits (3) 1753.3 1266.2 1332.7 998.2 1375.1 1358.7 364.4 -872.5 -671.6 46

(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) 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 is included in line 1, and fixed investment is included in line 2.

(3) Includes checkable deposits (line 27) and time and savings deposits (line 28) not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
Transactions

26 Z.1, December 9, 2022

F.111 U.S.-Chartered Depository Institutions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA766000105 Gross saving less net capital transfers paid -101.4 -144.5 -137.5 -135.0 -148.3 -157.3 -145.5 -74.9 -137.6 1

 2 FA765013005 Fixed nonresidential investment 53.6 57.6 65.8 63.3 52.6 48.5 49.8 47.4 50.1 2

 3 FA764090005 Net acquisition of financial assets 2940.1 1891.0 3027.3 633.4 2050.8 1852.3 1112.0 -514.2 134.5 3

 4 FA763025000 Vault cash 15.8 -8.8 25.0 -24.0 -1.9 -34.1 25.6 -4.1 -28.6 4

 5 FA763013005 Reserves at Federal Reserve 1282.4 388.6 1651.1 -512.1 735.6 -320.2 -914.1 -2088.8 -417.6 5

 6 FA762050005 Federal funds and security repos 179.8 -220.8 -975.7 23.1 -50.5 119.9 -75.6 -70.1 107.9 6

 7 FA764022005 Debt securities 1010.2 1239.0 1903.7 980.3 940.2 1132.1 892.6 -194.8 -648.2 7

 8 FA763069175 Open market paper 2.0 -2.0 -7.5 -0.4 0.0 0.0 0.0 0.0 0.0 8

 9 FA763061100 Treasury securities 327.8 449.0 406.9 355.2 348.3 685.6 273.5 174.0 -271.6 9

 10 FA763061705 Agency- and GSE-backed securities 603.1 535.0 940.8 439.8 445.9 313.6 206.4 -362.2 -403.4 10

 11 FA763061803 Residential mortgage pass-through securities 381.9 379.9 725.6 319.6 312.8 161.5 177.8 -253.9 -148.6 11

 12 FA763061503 Commercial mortgage pass-through securities 46.8 36.6 49.6 38.4 31.3 27.0 8.5 -13.6 -101.1 12

 13 FA763061603 Residential CMOs and other structured MBS 113.3 41.4 51.6 0.2 67.1 46.8 -19.6 -37.6 -15.5 13

 14 FA763061403 Commercial CMOs and other structured MBS 54.4 35.5 61.5 44.7 13.9 22.1 -0.6 -84.9 -153.8 14

 15 FA763061795 Other 6.7 41.6 52.5 36.9 20.8 56.2 40.3 27.8 15.7 15

 16 FA763062000 Municipal securities 69.0 52.1 72.4 56.7 49.2 30.3 53.5 53.7 -7.2 16

 17 FA763063005 Corporate and foreign bonds 8.3 204.9 491.1 129.0 96.7 102.5 359.3 -60.3 33.9 17

 18 FA763063673 Private residential mortgage pass-through securities -0.9 1.1 2.9 0.1 0.1 1.4 -2.5 -0.5 -0.1 18

 19 FA763063653 Private commercial mortgage pass-through securities 0.2 0.4 0.5 0.1 0.4 0.8 1.1 -0.0 -0.3 19

 20 FA763063663 Private residential CMOs and other structured MBS 4.7 17.1 7.4 5.9 27.0 28.2 32.9 11.5 -0.6 20

 21 FA763063693 Private commercial CMOs and other structured MBS -0.4 13.2 7.5 14.5 11.3 19.6 17.9 6.8 3.6 21

 22 FA763063095 Other 4.7 172.9 472.7 108.5 58.0 52.5 309.9 -78.2 31.4 22

 23 FA764023005 Loans 290.3 347.5 48.9 -14.6 232.0 1123.4 668.7 1596.2 973.2 23

 24 FA763068005 Depository institution loans n.e.c. 336.1 58.9 138.1 -293.8 -214.3 605.7 138.6 633.0 204.1 24

 25 FA763069005 Other loans and advances 3.0 1.9 -2.2 -5.3 10.8 4.3 -16.7 0.2 -2.2 25

 26 FA763065005 Mortgages 41.1 146.4 -109.9 77.1 301.8 316.8 296.5 692.3 627.0 26

 27 FA763066000 Consumer credit -90.1 140.2 22.9 207.5 133.6 196.7 250.3 270.7 144.4 27

 28 FA763064103 Corporate equities 2.9 2.4 4.1 3.8 -2.4 4.0 2.3 -7.7 -0.9 28

 29 FA763064203 Mutual fund shares 1.5 2.0 1.7 7.9 -12.9 11.3 -3.4 -1.9 7.4 29

 30 FA763040005 Life insurance reserves 6.1 13.3 8.3 18.7 9.3 17.0 8.6 7.7 8.8 30

 31 FA763092000 U.S. direct investment abroad 1.4 9.5 -1.9 36.9 -8.7 11.6 17.7 1.2 15.5 31

 32 FA763090005 Miscellaneous assets 149.7 118.3 362.1 113.3 210.3 -212.6 489.7 248.3 117.0 32

 33 FA764194005 Net increase in liabilities and equity 2800.0 1844.7 2682.0 959.0 1786.7 1951.1 794.0 -1009.1 -177.3 33

 34 FA764190005 Net increase in liabilities 2798.1 1842.4 2683.4 952.5 1771.7 1962.0 820.6 -1018.1 -181.3 34

 35 FA764110005 Net interbank liabilities 4.2 -52.0 -221.1 -183.2 -15.8 211.9 96.0 -457.7 144.3 35

 36 FA713022003 Federal Reserve float 0.1 -0.0 -1.9 -0.0 1.5 0.5 -0.4 -0.4 1.6 36

 37 FA713068715 Borrowing from Federal Reserve banks 44.1 -30.9 -12.1 2.1 -100.4 -13.3 -17.8 3.1 8.6 37

 38 FA764112005 To domestic banking 3.6 9.1 244.4 -318.0 95.6 14.7 235.5 -401.6 105.5 38

 39 FA764116005 To foreign banks -43.6 -30.2 -451.4 132.8 -12.4 210.1 -121.3 -58.9 28.6 39

 40 FA763127005 Checkable deposits 2381.0 1248.8 947.7 1929.8 1314.0 803.7 616.4 929.9 446.0 40

 41 FA763123005 Federal government 1.1 -0.1 -1.4 8.1 -3.5 -3.7 0.3 0.6 1.0 41

 42 FA763128000 State and local government 90.8 115.8 79.2 204.3 100.8 78.8 25.3 53.4 -16.2 42

 43 FA763129205 Private domestic 2306.2 1112.7 883.1 1646.9 1195.0 725.8 557.0 948.5 396.8 43

 44 FA763122605 Rest of the world -17.1 20.5 -13.1 70.5 21.7 2.8 33.8 -72.6 64.4 44

 45 FA763130005 Time and savings deposits 656.1 631.5 1617.7 -460.2 446.8 921.5 110.2 -1582.9 -1268.7 45

 46 FA762150005 Federal funds and security repos 3.9 -9.9 66.3 -177.4 30.4 41.2 -19.8 50.1 33.7 46

 47 FA764122005 Debt securities 109.0 -94.9 -72.5 -199.3 -130.6 22.8 134.7 169.1 11.9 47

 48 FA763169175 Open market paper 54.2 -45.6 -32.0 -98.2 -62.8 10.8 67.2 87.2 6.1 48

 49 FA763163005 Corporate bonds 54.8 -49.4 -40.5 -101.1 -67.8 11.9 67.5 81.9 5.8 49

 50 FA763169305 Loans (other loans and advances) -232.6 -64.4 44.6 -242.7 -43.7 -15.9 188.7 343.3 499.3 50

 51 FA763178000 Taxes payable (net) -11.2 -8.9 -45.4 -7.5 9.9 7.5 -206.2 -59.2 -72.8 51

 52 FA763190005 Miscellaneous liabilities -112.2 192.3 346.2 293.1 160.6 -30.7 -99.4 -410.7 25.1 52

 53 FA763194603 Equity investment by holding company parents 106.9 123.4 83.9 213.7 103.2 93.0 -261.3 -254.8 -218.5 53

 54 FA763194705 Other investment by holding company parents -39.4 24.0 19.9 32.2 40.3 3.7 -59.6 24.0 -10.5 54

 55 FA763193005 Other -179.7 44.8 242.3 47.3 17.1 -127.4 221.5 -179.8 254.0 55

 56 FA763164103 Net equity issues (corporate equities) 1.9 2.3 -1.4 6.4 15.1 -10.9 -26.6 9.0 3.9 56

 57 FA767005005 Discrepancy -295.0 -248.4 -548.6 127.2 -464.9 -107.1 -513.3 -617.1 -499.5 57

 Memo:

 58 FA763066303 Consumer leases not included above (1) 0.3 0.1 -0.4 0.6 -0.1 0.5 -1.7 -3.1 -3.0 58

 59 FA763139105 Uninsured deposits (2) 1710.9 1193.6 940.9 1017.0 1385.5 1430.9 78.4 -1073.3 -661.3 59

(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; depreciation is included in line 1, and fixed investment is included in line 2.

(2) Includes checkable deposits (line 40) and time and savings deposits (line 45) not insured by the Federal Deposit Insurance Corporation.
Transactions

Z.1, December 9, 2022 27

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA756330005 Gross saving 6.6 7.5 7.1 7.3 7.6 7.8 8.0 8.2 8.5 1

 2 FA755013005 Fixed nonresidential investment 8.2 9.3 9.1 9.3 9.4 9.6 9.9 10.1 10.5 2

 3 FA754090005 Net acquisition of financial assets -8.1 262.7 713.0 -166.0 873.0 -369.3 1022.5 132.5 535.8 3

 4 FA753025003 Vault cash 0.0 0.1 0.0 0.0 0.0 0.3 -0.3 -0.0 0.0 4

 5 FA753013003 Reserves at Federal Reserve 48.3 227.8 834.3 -47.6 669.9 -545.5 815.3 -220.8 213.2 5

 6 FA752050005 Federal funds and security repos -55.4 -64.2 -63.8 -126.2 92.9 -159.7 22.3 40.2 46.5 6

 7 FA754022005 Debt securities -12.6 -12.5 -12.3 -42.4 10.1 -5.5 59.1 122.2 97.9 7

 8 FA753069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA753061103 Treasury securities -27.3 -7.6 -32.1 -14.0 9.2 6.4 31.0 41.6 6.0 9

 10 FA753061703 Agency- and GSE-backed securities 7.9 -5.7 11.5 -16.5 3.3 -20.9 -6.9 17.7 5.2 10

 11 FA753062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA753063005 Corporate and foreign bonds 6.8 0.8 8.3 -11.8 -2.3 9.0 34.9 62.9 86.7 12

 13 FA754023005 Loans 17.7 84.4 -67.6 9.4 128.6 267.3 108.0 189.1 121.2 13

 14 FA753068005 Depository institution loans n.e.c. 17.1 74.3 -65.2 5.2 119.2 238.1 92.7 172.6 106.8 14

 15 FA753069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA753065005 Mortgages 0.6 10.1 -2.4 4.1 9.5 29.2 15.3 16.5 14.4 16

 17 FA753064103 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA753093005 Miscellaneous assets -6.1 27.1 22.3 40.8 -28.5 73.8 18.0 1.8 57.0 18

 19 FA754194005 Net increase in liabilities and equity 65.8 138.8 640.9 -431.7 723.2 -377.3 1096.9 108.3 394.6 19

 20 FA754190005 Net increase in liabilities 57.9 140.4 642.1 -403.6 705.7 -382.3 1097.2 99.6 395.9 20

 21 FA754110005 Net interbank liabilities 76.1 100.3 -5.8 -156.0 632.4 -69.6 448.8 98.5 331.3 21

 22 FA754116005 To foreign banks 73.0 97.1 -5.7 -157.1 604.6 -53.6 420.5 75.4 326.6 22

 23 FA754112005 To domestic banks 3.2 3.2 -0.1 1.1 27.8 -16.0 28.3 23.1 4.7 23

 24 FA753127005 Checkable deposits 57.0 25.7 201.8 -43.1 35.4 -91.3 101.7 77.4 -65.8 24

 25 FA753130005 Time and savings deposits -50.8 4.2 140.2 -29.1 -75.5 -18.8 181.2 108.3 45.4 25

 26 FA752150005 Federal funds and security repos -5.1 -17.5 120.6 -72.0 106.8 -225.5 146.3 -220.3 -64.7 26

 27 FA753169175 Debt securities (open market paper) -5.8 -4.9 3.1 -29.4 -25.0 31.8 97.7 77.5 2.3 27

 28 FA753192305 Foreign direct investment: intercompany debt -2.3 -1.9 -1.8 -7.2 0.1 1.5 -0.9 -0.8 -1.9 28

 29 FA753190005 Miscellaneous liabilities -11.2 34.6 184.1 -66.8 31.4 -10.4 122.3 -40.9 149.3 29

 30 FA753194503 Investment by other financial business -27.6 16.6 169.2 -69.8 36.0 -69.0 94.7 -106.6 44.1 30

 31 FA753193005 Other 16.4 18.0 14.9 3.0 -4.5 58.6 27.7 65.7 105.2 31

 32 FA753192103 Net equity issues (foreign direct investment) 7.9 -1.7 -1.1 -28.1 17.6 5.0 -0.2 8.8 -1.3 32

 33 FA757005005 Discrepancy 72.3 -125.8 -73.9 -267.7 -151.6 -9.8 72.5 -26.1 -143.3 33

 Memo:

 34 FA753139105 Uninsured deposits (2) 6.2 29.9 342.0 -72.2 -40.1 -110.1 283.0 185.7 -20.5 34

(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) All checkable deposits (line 24) and time and savings deposits (line 25) are considered uninsured according to the Federal Deposit Insurance Act.
Transactions

28 Z.1, December 9, 2022

F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA746330005 Gross saving 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 FA745013005 Fixed nonresidential investment 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 2

 3 FA744090005 Net acquisition of financial assets 12.2 5.6 46.7 24.8 -32.0 -17.1 -28.8 9.8 27.2 3

 4 FA743013003 Reserves at Federal Reserve 10.3 7.2 -0.7 34.7 -3.2 -2.1 -34.4 -5.9 -27.7 4

 5 FA744022003 Debt securities 6.1 7.9 16.9 -7.9 20.5 2.0 13.1 22.1 22.9 5

 6 FA743061103 Treasury securities -3.6 6.5 9.2 -0.0 11.7 5.2 4.7 17.2 19.7 6

 7 FA743061703 Agency- and GSE-backed securities 7.1 1.9 7.7 1.7 0.3 -2.0 4.7 1.6 1.1 7

 8 FA743062003 Municipal securities -1.1 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 8

 9 FA743063005 Corporate and foreign bonds 3.8 -0.6 0.0 -9.6 8.5 -1.2 3.7 3.4 2.2 9

 10 FA744023003 Loans 0.9 -4.4 -4.7 -3.7 -5.6 -3.6 -4.6 1.5 3.8 10

 11 FA743068005 Depository institution loans n.e.c. 0.6 -2.9 -2.8 -1.4 -5.4 -2.0 -1.7 1.5 2.2 11

 12 FA743065103 One-to-four-family residential mortgages 0.3 -1.5 -1.4 -1.8 -1.4 -1.4 -2.4 -0.8 -0.4 12

 13 FA743065505 Commercial mortgages 0.0 0.0 -0.5 -0.5 1.2 -0.2 -0.4 0.7 2.0 13

 14 FA743093005 Miscellaneous assets -5.1 -5.1 35.2 1.7 -43.8 -13.3 -3.0 -7.9 28.2 14

 15 FA744190005 Net increase in liabilities 14.6 4.0 38.8 29.1 -33.8 -18.1 -39.2 1.1 15.0 15

 16 FA744110005 Net interbank liabilities 0.3 0.0 -0.1 -0.1 -0.0 0.3 -0.2 0.1 -5.6 16

 17 FA743127003 Checkable deposits 11.0 7.3 23.1 27.1 -13.7 -7.4 -30.2 5.8 10.3 17

 18 FA743130003 Time and savings deposits 3.1 -2.2 18.0 3.3 -19.9 -10.2 -8.6 -4.9 11.0 18

 19 FA743193005 Miscellaneous liabilities 0.2 -1.1 -2.2 -1.2 -0.2 -0.8 -0.3 0.2 -0.6 19

 20 FA747005005 Discrepancy 2.3 -1.7 -7.9 4.2 -1.8 -1.1 -10.5 -8.7 -12.2 20

 Memo:

 21 FA743139105 Uninsured deposits (2) 10.5 8.4 14.0 28.9 -3.7 -5.4 -25.9 5.7 2.9 21

(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.

(2) Includes checkable deposits (line 17) and time and savings deposits (line 18) not insured by the Federal Deposit Insurance Corporation.

F.114 Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA476000105 Gross saving 17.9 11.1 12.3 10.6 10.3 11.3 11.3 11.5 11.8 1

 2 FA475013005 Fixed nonresidential investment 8.7 9.7 9.4 9.7 9.8 9.9 10.3 10.5 10.9 2

 3 FA474090005 Net acquisition of financial assets 287.5 226.9 507.9 15.8 169.3 214.7 308.1 67.5 173.4 3

 4 FA473013005 Reserves at Federal Reserve 105.0 25.8 226.4 -119.3 -11.8 7.9 -54.3 -252.4 -90.3 4

 5 FA472050053 Federal funds and security repos -0.3 -0.3 -0.2 -0.9 0.2 -0.2 -0.1 -0.0 -0.3 5

 6 FA474022005 Debt securities 88.8 101.5 277.5 -6.7 55.1 79.9 120.2 97.2 -28.8 6

 7 FA473069153 Open market paper -0.4 -0.1 -0.7 -0.3 -0.3 1.1 0.8 -0.4 -1.2 7

 8 FA473061105 Treasury securities 6.3 19.5 31.4 0.0 15.6 30.8 61.1 34.6 28.1 8

 9 FA473061705 Agency- and GSE-backed securities 75.9 74.6 230.5 -3.8 32.9 38.8 41.4 55.4 -62.5 9

 10 FA473062005 Municipal securities 4.4 2.3 3.6 2.0 2.7 0.9 2.0 0.7 2.9 10

 11 FA473063005 Corporate and foreign bonds 2.6 5.2 12.8 -4.7 4.2 8.3 14.9 6.9 3.9 11

 12 FA474023000 Loans 60.4 92.3 57.7 82.2 106.9 122.5 210.1 315.0 336.6 12

 13 FA473068005 Depository institution loans n.e.c. 7.7 7.9 18.2 -1.9 8.1 7.3 63.4 66.7 118.6 13

 14 FA473065100 One-to-four-family residential mortgages 45.6 57.5 28.4 56.2 67.7 77.8 65.6 109.8 109.7 14

 15 FA473066000 Consumer credit 7.1 26.9 11.2 28.0 31.1 37.5 81.0 138.5 108.3 15

 16 FA473064205 Mutual fund shares 0.9 1.6 4.5 2.0 2.1 -2.1 2.9 -2.9 1.5 16

 17 FA473090005 Miscellaneous assets 32.6 6.0 -58.0 58.6 16.8 6.6 29.3 -89.3 -45.3 17

 18 FA474190005 Net increase in liabilities 270.7 208.8 483.5 24.0 135.9 191.7 256.3 39.6 137.5 18

 19 FA474110005 Net interbank liabilities 3.8 4.4 114.5 -66.6 -31.3 1.0 66.6 -88.4 -30.3 19

 20 FA473127003 Checkable deposits 85.0 77.1 175.8 31.1 48.7 52.9 83.8 -20.4 77.3 20

 21 FA473130005 Time and savings deposits 187.1 124.8 176.6 64.0 128.6 129.9 60.1 75.4 8.3 21

 22 FA472150053 Federal funds and security repos -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 22

 23 FA473169333 Loans (other loans and advances) -9.0 -2.5 -11.9 -4.5 1.1 5.1 6.5 70.4 70.6 23

 24 FA473193005 Miscellaneous liabilities 3.8 5.0 28.5 -0.0 -11.2 2.8 39.4 2.7 11.6 24

 25 FA477005005 Discrepancy -7.5 -16.8 -21.6 9.1 -32.9 -21.7 -50.9 -26.9 -35.0 25

 Memo:

 26 FA473139103 Uninsured deposits (1) 25.8 34.3 35.9 24.5 33.4 43.2 28.9 9.4 7.2 26

(1) Includes checkable deposits (line 20) and time and savings deposits (line 21) not insured by the National Credit Union Share Insurance Fund.
Transactions

Z.1, December 9, 2022 29

F.115 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA516000105 Gross saving less net capital transfers paid (1) 74.4 36.3 67.6 57.1 -40.3 61.0 55.2 55.7 -37.8 1

 2 FA515013005 Fixed nonresidential investment 36.0 40.1 38.8 40.0 40.6 41.2 42.7 43.7 45.2 2

 3 FA514090005 Net acquisition of financial assets 100.1 76.4 82.4 161.6 84.4 -23.0 319.7 292.1 415.6 3

 4 FA513020005 Checkable deposits and currency 2.6 22.5 36.1 -12.9 56.7 10.1 -61.2 -11.0 30.9 4

 5 FA513034005 Money market fund shares 9.9 -3.2 7.7 -23.0 14.0 -11.5 -33.5 -6.4 10.0 5

 6 FA512051005 Security repurchase agreements 0.2 -0.0 0.4 1.0 -1.1 -0.4 -3.0 1.1 0.8 6

 7 FA514022005 Debt securities 53.3 71.0 91.0 122.1 36.8 34.2 21.5 72.9 99.8 7

 8 FA513069105 Open market paper -0.8 -4.4 -3.2 -1.4 -7.8 -5.3 -5.9 1.9 1.9 8

 9 FA513061105 Treasury securities 0.9 31.6 48.0 78.5 -2.6 2.7 -72.6 42.8 59.3 9

 10 FA513061705 Agency- and GSE-backed securities 3.1 -10.2 -10.0 -16.2 -1.6 -13.0 9.7 4.6 1.4 10

 11 FA513062005 Municipal securities 3.0 -1.1 -2.5 -2.5 -0.5 1.0 6.3 1.1 -9.2 11

 12 FA513063005 Corporate and foreign bonds 47.1 55.1 58.7 63.6 49.3 48.8 84.0 22.5 46.5 12

 13 FA513065505 Loans (commercial mortgages) 1.4 3.4 0.3 4.8 3.6 4.9 7.5 2.7 1.5 13

 14 FA513064105 Corporate equities -21.8 2.6 0.2 5.8 -0.3 4.7 143.6 4.8 20.5 14

 15 FA513064205 Mutual fund shares 0.9 -1.0 1.1 -5.7 -2.8 3.5 1.5 -8.8 2.5 15

 16 FA513070005 Trade receivables 18.1 22.6 39.0 34.7 40.9 -23.9 44.1 37.5 4.3 16

 17 FA513092003 U.S. direct investment abroad 20.3 16.2 25.7 7.1 17.6 14.4 13.0 11.4 9.3 17

 18 FA513090005 Miscellaneous assets 15.3 -57.9 -119.1 27.6 -81.1 -59.0 186.2 187.9 235.9 18

 19 FA513092403 Equity in FHLB 0.5 -0.2 -0.1 -0.2 -0.2 -0.1 -0.3 -0.4 -0.3 19

 20 FA513076005 Policy payables (2) 3.8 27.4 27.4 27.4 27.4 27.4 11.7 38.1 49.1 20

 21 FA513094703 Receivables due from holding company parents 0.0 0.4 0.0 0.0 0.0 1.6 -1.6 0.8 4.2 21

 22 FA513093005 Other 10.9 -85.5 -146.4 0.4 -108.2 -87.9 176.4 149.3 182.9 22

 23 FA514194005 Net increase in liabilities and equity 87.1 156.1 216.8 168.7 260.2 -21.5 190.8 119.4 245.9 23

 24 FA514190005 Net increase in liabilities 93.5 159.4 220.3 163.3 265.7 -11.6 198.7 124.8 249.4 24

 25 FA512151003 Security repurchase agreements 0.1 -0.1 -0.1 -0.0 -0.2 -0.1 0.0 0.1 0.1 25

 26 FA513169333 Loans (other loans and advances) 6.4 -3.0 -2.5 -3.9 -3.6 -2.0 -2.7 -2.2 -2.6 26

 27 FA513170005 Trade payables 11.1 19.0 19.0 19.0 19.0 19.0 3.7 11.9 15.4 27

 28 FA513178005 Taxes payable 0.7 -0.2 6.6 -10.4 -3.2 6.1 4.0 -10.3 -2.1 28

 29 FA513192305 Foreign direct investment: intercompany debt -0.9 -0.2 -1.0 -1.4 -0.1 1.6 0.3 0.2 0.2 29

 30 FA513190005 Miscellaneous liabilities 76.0 144.0 198.3 160.1 253.8 -36.0 193.5 125.0 238.4 30

 31 FA513194603 Equity investment by holding company parent -1.4 1.1 -0.6 5.0 1.1 -1.1 2.3 1.0 0.3 31

 32 FA513194703 Other investment by holding company parent -2.5 -0.2 3.5 -1.9 -1.1 -1.1 -1.1 -0.0 0.0 32

 33 FA513176005 Policy payables 55.2 111.2 126.5 105.6 196.7 16.0 50.5 163.9 211.1 33

 34 FA513193005 Other 24.7 31.9 68.9 51.3 57.1 -49.8 141.8 -39.8 27.0 34

 35 FA513181125 Net equity issues -6.4 -3.4 -3.5 5.4 -5.4 -9.9 -7.9 -5.4 -3.4 35

 36 FA513164103 Corporate equity issues -3.3 -9.4 -2.1 -5.2 -12.3 -18.0 -17.0 -18.6 -17.0 36

 37 FA513192103 Foreign direct investment: equity -3.1 6.0 -1.4 10.6 6.9 8.1 9.1 13.3 13.6 37

 38 FA517005005 Discrepancy 25.3 75.9 163.2 24.3 94.9 21.3 -116.4 -160.7 -252.7 38

 Memo:

 39 FA513200003 Securities lending (3) -0.5 2.4 5.0 7.4 -0.1 -2.6 2.0 2.2 -1.9 39

 40 FA513176015 Direct reserve 50.2 94.1 109.3 88.5 179.6 -1.1 42.6 138.2 178.1 40

 41 FA513176025 Reinsured to U.S. reinsurers 7.1 11.2 11.2 11.2 11.2 11.2 5.7 18.5 23.9 41

 42 FA263176005 Reinsured to non-U.S. reinsurers -3.3 16.2 16.2 16.2 16.2 16.2 6.0 19.6 25.2 42

 43 FA263076005 Reinsured from non-U.S. reinsurers -2.1 6.0 6.0 6.0 6.0 6.0 2.2 7.1 9.1 43

(1) Net capital transfers paid from table F.5, line 53.

(2) Policy payables due from reinsurers.

(3) Liability for securities lending collateral, included in line 32.
Transactions

30 Z.1, December 9, 2022

F.116 Life Insurance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA546000105 Gross saving less net capital transfers paid (2) 22.0 13.0 16.7 11.7 12.5 11.1 14.1 13.1 14.4 1

 2 FA545013005 Fixed nonresidential investment 28.6 32.2 31.1 32.1 32.6 33.2 34.3 35.2 36.2 2

 3 FA544090005 Net acquisition of financial assets 391.1 196.4 99.6 110.7 304.0 271.1 259.7 321.4 417.6 3

 4 FA543020005 Checkable deposits and currency 33.0 -8.3 -37.6 59.7 -23.4 -32.1 -30.3 -17.8 20.2 4

 5 FA543034005 Money market fund shares 7.9 -2.3 -12.0 23.5 -8.4 -12.3 -9.7 45.6 26.0 5

 6 FA542051075 Security repurchase agreements 1.9 1.6 -2.2 2.5 4.7 1.3 -3.2 -4.5 4.6 6

 7 FA544022005 Debt securities 184.9 171.2 110.0 42.1 295.0 237.6 285.0 117.1 283.0 7

 8 FA543069105 Open market paper 5.2 7.0 -7.8 5.8 16.2 13.7 -11.1 -15.0 20.5 8

 9 FA543061105 Treasury securities 6.9 -2.6 -9.0 12.8 12.9 -26.9 -18.9 -13.2 19.6 9

 10 FA543061705 Agency- and GSE-backed securities -20.2 -42.3 -59.4 -40.5 -30.5 -38.6 -16.9 -21.9 6.8 10

 11 FA543062005 Municipal securities -2.9 1.0 -1.5 -0.4 3.9 2.2 3.3 1.5 3.1 11

 12 FA543063005 Corporate and foreign bonds 196.0 208.0 187.8 64.3 292.4 287.3 328.6 165.7 233.1 12

 13 FA544023005 Loans 27.4 50.1 15.4 50.1 66.0 68.9 66.6 63.8 39.9 13

 14 FA543069005 Other loans and advances 1.8 3.9 2.7 3.6 7.2 2.1 -5.2 -0.5 12.3 14

 15 FA543065005 Mortgages 25.5 46.2 12.7 46.5 58.8 66.8 71.9 64.3 27.6 15

 16 FA543064105 Corporate equities 1.1 -79.6 -59.5 -103.2 -67.2 -88.6 -27.8 31.1 -42.7 16

 17 FA543064205 Mutual fund shares -99.2 -136.1 -112.5 -209.5 -124.1 -98.5 -124.5 -104.9 -59.0 17

 18 FA543070005 Trade receivables 22.5 10.1 10.1 10.1 10.1 10.1 11.4 16.1 16.4 18

 19 FA543040005 Life insurance reserves 5.6 22.2 22.2 22.2 22.2 22.2 3.1 12.4 11.2 19

 20 FA543050005 Pension entitlements 91.6 88.5 88.5 88.5 88.5 88.5 17.1 19.7 13.6 20

 21 FA543092073 U.S. direct investment abroad -1.2 -0.9 0.7 -1.1 0.7 -4.0 5.8 -5.8 1.2 21

 22 FA543090005 Miscellaneous assets 115.7 80.0 76.4 125.8 40.0 78.0 66.2 148.7 103.1 22

 23 FA543094703 Balances due from holding company parents 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA543092473 Equity in FHLB 2.5 1.3 3.1 0.6 0.2 1.3 2.2 -2.2 -2.4 24

 25 FA543077073 Deferred and unpaid life ins. premiums 0.1 1.5 8.5 -3.3 -0.1 0.8 7.0 -3.2 0.1 25

 26 FA543095105 Other reserves 8.8 4.1 4.1 4.1 4.1 4.1 3.4 3.1 4.6 26

 27 FA543093005 Other 104.2 73.1 60.7 124.4 35.7 71.7 53.6 151.0 100.9 27

 28 FA544194005 Net increase in liabilities and equity 403.3 126.2 -31.4 29.9 278.1 228.1 157.7 232.8 353.7 28

 29 FA544190005 Net increase in liabilities 415.2 149.8 -5.7 34.7 312.9 257.1 195.6 255.1 376.2 29

 30 FA542151073 Security repurchase agreements 1.1 1.5 -7.0 3.7 8.3 1.0 -6.5 -9.3 9.5 30

 31 FA543169373 Loans (other loans and advances) 15.3 6.8 33.3 -14.0 -5.7 13.7 44.7 29.0 12.3 31

 32 FA543170005 Trade payables 88.1 66.8 66.8 66.8 66.8 66.8 30.6 24.6 35.6 32

 33 FA543140005 Life insurance reserves 85.0 48.0 4.1 65.3 86.2 36.6 14.9 75.3 77.4 33

 34 FA543150005 Pension entitlements (3) 62.4 -46.1 -122.5 -157.2 93.7 1.5 -30.7 45.1 82.0 34

 35 FA543178075 Taxes payable 1.1 -0.5 4.9 -9.4 -0.3 2.9 -3.6 -4.0 0.3 35

 36 FA543192375 Foreign direct investment: intercompany debt 0.3 -0.4 -0.7 -0.8 -0.9 0.9 -0.8 -0.4 -1.8 36

 37 FA543190005 Miscellaneous liabilities 161.9 73.5 15.5 80.3 64.7 133.6 147.0 94.6 161.0 37

 38 FA543194603 Equity investment by holding company parent -5.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 FA543194703 Other investment by holding company parent -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 FA673090543 Funding agreements backing securities (4) 23.2 40.5 44.4 61.7 42.9 12.9 58.0 8.4 -3.0 40

 41 FA543195005 Other reserves (5) 19.2 17.0 13.9 6.1 25.1 22.9 20.0 -0.4 17.0 41

 42 FA593095005 Unallocated insurance contracts 34.4 22.7 1.8 39.9 18.6 30.4 3.7 -1.4 11.7 42

 43 FA543193005 Other 91.0 -6.7 -44.7 -27.4 -21.9 67.3 65.2 88.0 135.3 43

 44 FA543181125 Net equity issues -11.9 -23.6 -25.7 -4.8 -34.8 -29.0 -37.9 -22.3 -22.5 44

 45 FA543164173 Corporate equity issues -15.2 -24.5 -23.4 -20.5 -29.7 -24.4 -35.4 -30.2 -31.6 45

 46 FA543192173 Foreign direct investment: equity 3.3 1.0 -2.3 15.7 -5.1 -4.5 -2.5 7.9 9.1 46

 47 FA547005005 Discrepancy 5.5 -89.4 -145.4 -101.1 -46.0 -65.1 -122.2 -110.7 -85.7 47

 Memo:

 48 FA543200073 Securities lending (6) 3.4 6.4 16.6 12.4 11.9 -15.4 9.3 -26.1 -24.8 48

 49 FA543176015 Direct reserve 217.0 37.8 -81.6 -39.2 202.7 69.1 87.4 142.5 179.0 49

 50 FA543176025 Reinsured to U.S. reinsurers 112.4 40.2 40.2 40.2 40.2 40.2 16.7 32.3 31.2 50

 51 FA543076035 Reinsured to non-U.S. reinsurers 87.7 139.8 139.9 139.9 139.8 139.8 22.3 32.9 25.8 51

 52 FA543176035 Reinsured from non-U.S. reinsurers -21.5 -3.1 -3.1 -3.1 -3.1 -3.1 0.1 0.1 0.1 52

(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) Net capital transfers paid from table F.5, line 54.

(3) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 40.

(4) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(5) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.

(6) Liability for securities lending collateral, included in line 41.
Transactions

Z.1, December 9, 2022 31

F.116.g Life Insurance Companies: General Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA544090075 Net acquisition of financial assets 428.3 322.6 225.8 431.2 317.1 316.4 288.2 341.1 379.9 1

 2 FA543020075 Checkable deposits and currency 22.7 -4.8 -27.3 63.2 -22.5 -32.6 -29.3 -14.0 19.6 2

 3 FA543034075 Money market fund shares 3.0 1.1 -8.1 29.4 -6.1 -10.9 -24.9 34.2 23.4 3

 4 FA542051075 Security repurchase agreements 1.9 1.6 -2.2 2.5 4.7 1.3 -3.2 -4.5 4.6 4

 5 FA544022075 Debt securities 145.2 125.9 91.7 62.9 217.5 131.5 144.0 80.4 166.6 5

 6 FA543069175 Open market paper 0.5 1.9 -9.7 1.2 10.1 6.1 -10.6 -13.0 20.2 6

 7 FA543061175 Treasury securities 5.6 -8.1 -13.0 13.2 4.9 -37.5 -31.0 -16.4 7.4 7

 8 FA543061775 Agency- and GSE-backed securities -21.5 -26.7 -33.5 -20.5 -19.5 -33.3 -29.9 -20.3 -5.5 8

 9 FA543062075 Municipal securities -4.3 0.3 -0.1 -0.3 1.7 -0.0 0.0 0.9 0.6 9

 10 FA543063075 Corporate and foreign bonds 164.9 158.5 148.1 69.3 220.4 196.2 215.5 129.3 143.9 10

 11 FA544023075 Loans 23.3 40.3 14.7 41.3 53.0 52.3 68.1 69.5 39.1 11

 12 FA543069075 Other loans and advances 1.8 3.9 2.7 3.6 7.2 2.1 -5.2 -0.5 12.3 12

 13 FA543065075 Mortgages 21.5 36.4 12.0 37.7 45.8 50.2 73.3 70.0 26.7 13

 14 FA543064175 Corporate equities 14.2 13.2 10.2 15.2 18.7 8.7 6.0 6.8 -12.1 14

 15 FA543064275 Mutual fund shares -0.4 -0.7 -0.8 0.1 -2.7 0.7 -1.7 -0.6 2.7 15

 16 FA543070075 Trade receivables 22.5 10.0 10.0 10.0 10.0 10.0 11.4 16.1 16.4 16

 17 FA543040075 Life insurance reserves 5.6 22.2 22.2 22.2 22.2 22.2 3.1 12.4 11.2 17

 18 FA543050075 Pension entitlements 93.5 88.7 88.7 88.7 88.7 88.7 17.1 19.8 13.6 18

 19 FA543092073 U.S. direct investment abroad -1.2 -0.9 0.7 -1.1 0.7 -4.0 5.8 -5.8 1.2 19

 20 FA543090075 Miscellaneous assets 98.1 26.0 25.8 96.9 -67.1 48.4 91.8 126.8 93.7 20

 21 FA544194075 Net increase in liabilities and equity 441.6 255.7 98.0 354.2 294.6 275.9 190.6 266.3 323.4 21

 22 FA544190075 Net increase in liabilities 453.5 279.2 123.7 359.0 329.4 304.9 228.5 288.6 345.9 22

 23 FA542151073 Security repurchase agreements 1.1 1.5 -7.0 3.7 8.3 1.0 -6.5 -9.3 9.5 23

 24 FA543169373 Loans (other loans and advances) 15.3 6.8 33.3 -14.0 -5.7 13.7 44.7 29.0 12.3 24

 25 FA543170075 Trade payables 88.7 66.8 66.8 66.8 66.8 66.8 30.6 24.6 35.6 25

 26 FA543140075 Life insurance reserves 91.1 75.0 31.1 117.7 98.6 52.6 20.7 83.1 75.1 26

 27 FA543150075 Pension entitlements (1) 95.6 59.2 -16.2 100.8 110.9 41.4 1.3 90.6 63.2 27

 28 FA543178075 Taxes payable 1.1 -0.5 4.9 -9.4 -0.3 2.9 -3.6 -4.0 0.3 28

 29 FA543192375 Foreign direct investment: intercompany debt 0.3 -0.4 -0.7 -0.8 -0.9 0.9 -0.8 -0.4 -1.8 29

 30 FA543190075 Miscellaneous liabilities 160.5 70.8 11.6 94.2 51.6 125.6 142.2 74.9 151.7 30

 31 FA543181125 Net equity issues -11.9 -23.6 -25.7 -4.8 -34.8 -29.0 -37.9 -22.3 -22.5 31

 32 FA543164173 Corporate equity issues -15.2 -24.5 -23.4 -20.5 -29.7 -24.4 -35.4 -30.2 -31.6 32

 33 FA543192173 Foreign direct investment: equity 3.3 1.0 -2.3 15.7 -5.1 -4.5 -2.5 7.9 9.1 33

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 30).

F.116.s Life Insurance Companies: Separate Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA544090085 Net acquisition of financial assets -37.1 -126.3 -126.2 -320.5 -13.1 -45.2 -28.5 -19.7 37.6 1

 2 FA543020083 Checkable deposits and currency 10.3 -3.6 -10.3 -3.5 -1.0 0.5 -1.0 -3.8 0.6 2

 3 FA543034385 Money market fund shares 5.0 -3.4 -3.9 -5.9 -2.3 -1.4 15.2 11.3 2.6 3

 4 FA544022085 Debt securities 39.8 45.3 18.3 -20.8 77.5 106.0 141.0 36.7 116.4 4

 5 FA543069183 Open market paper 4.8 5.0 1.9 4.6 6.1 7.6 -0.5 -2.0 0.3 5

 6 FA543061183 Treasury securities 1.3 5.5 4.0 -0.4 8.1 10.5 12.1 3.2 12.2 6

 7 FA543061783 Agency- and GSE-backed securities 1.3 -15.6 -25.9 -20.0 -11.0 -5.3 13.0 -1.5 12.3 7

 8 FA543062083 Municipal securities 1.4 0.7 -1.4 -0.0 2.2 2.2 3.3 0.7 2.5 8

 9 FA543063085 Corporate and foreign bonds 31.0 49.5 39.7 -4.9 72.1 91.1 113.1 36.4 89.2 9

 10 FA544023085 Loans 4.1 9.7 0.7 8.8 12.9 16.6 -1.4 -5.7 0.9 10

 11 FA543069483 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA543065083 Mortgages 4.1 9.7 0.7 8.8 12.9 16.6 -1.4 -5.7 0.9 12

 13 FA543064185 Corporate equities -13.1 -92.8 -69.7 -118.4 -85.8 -97.2 -33.9 24.2 -30.6 13

 14 FA543064385 Mutual fund shares -98.8 -135.5 -111.7 -209.6 -121.4 -99.2 -122.9 -104.3 -61.7 14

 15 FA543070085 Trade receivables 0.0 0.1 0.1 0.1 0.1 0.1 -0.0 -0.0 -0.0 15

 16 FA543040085 Life insurance reserves -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA543050085 Pension entitlements -1.9 -0.2 -0.2 -0.2 -0.2 -0.2 -0.0 -0.0 0.0 17

 18 FA543090085 Miscellaneous assets 17.6 54.0 50.6 28.9 107.1 29.6 -25.5 21.9 9.5 18

 19 FA544190085 Net increase in liabilities -38.3 -129.5 -129.4 -324.3 -16.5 -47.8 -32.9 -33.5 30.3 19

 20 FA543170085 Trade payables -0.6 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 20

 21 FA543140085 Life insurance reserves -6.1 -26.9 -26.9 -52.4 -12.4 -16.0 -5.8 -7.7 2.2 21

 22 FA543150085 Pension entitlements (1) -33.2 -105.3 -106.4 -258.0 -17.2 -39.8 -31.9 -45.5 18.8 22

 23 FA543190085 Miscellaneous liabilities 1.5 2.8 3.9 -13.9 13.1 8.0 4.8 19.7 9.3 23

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds which are included in miscellaneous liabilities (line 23).
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32 Z.1, December 9, 2022

F.117 Private and Public Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA596330005 Gross saving 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.8 1

 2 FA595013005 Fixed nonresidential investment 0.6 0.7 0.6 0.7 0.7 0.7 0.7 0.7 0.7 2

 3 FA594090005 Net acquisition of financial assets (2) 477.6 415.8 399.4 456.6 383.1 424.2 449.5 340.0 342.5 3

 4 FA593020005 Checkable deposits and currency 2.1 1.3 -11.0 6.2 31.7 -21.9 3.6 11.9 6.5 4

 5 FA593030005 Time and savings deposits 0.3 -5.5 -4.9 -5.5 -7.3 -4.2 -15.3 2.0 -7.2 5

 6 FA593034005 Money market fund shares 25.8 20.0 24.9 22.7 55.0 -22.5 46.2 20.0 28.7 6

 7 FA592051005 Security repurchase agreements 3.7 30.0 48.2 30.9 -26.3 67.3 -34.6 14.1 6.4 7

 8 FA594022005 Debt securities 304.4 394.3 428.3 582.4 -767.0 1333.6 442.9 297.0 221.8 8

 9 FA593069105 Open market paper 1.8 7.8 28.2 13.6 4.1 -14.5 36.2 -3.0 5.9 9

 10 FA593061105 Treasury securities (3) 149.4 295.1 240.9 469.2 -770.4 1240.7 234.8 373.4 140.8 10

 11 FA593061705 Agency- and GSE-backed securities 39.0 -1.5 7.7 -9.1 30.2 -34.7 50.9 1.7 26.1 11

 12 FA593062045 Municipal securities -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 -0.0 12

 13 FA593063005 Corporate and foreign bonds 114.1 92.9 151.5 108.8 -30.8 142.1 121.0 -75.1 49.0 13

 14 FA594023005 Loans 0.3 1.5 2.2 -0.3 722.5 -718.6 -5.2 2.4 0.3 14

 15 FA313169003 Other loans and advances 0.0 0.0 0.0 0.0 722.2 -722.2 0.0 0.0 0.0 15

 16 FA593065005 Mortgages 0.3 1.5 2.2 -0.3 0.3 3.6 -5.2 2.4 0.3 16

 17 FA593064105 Corporate equities -150.8 -219.8 -226.3 -310.4 -369.4 26.8 -47.9 -219.3 -183.9 17

 18 FA593064205 Mutual fund shares 43.7 -195.4 -80.4 -107.4 -1.4 -592.5 45.7 -150.7 -213.4 18

 19 FA593090005 Miscellaneous assets 248.2 389.4 218.2 237.9 745.3 356.3 14.3 362.6 483.4 19

 20 FA593095005 Unallocated insurance contracts (4) 34.4 22.7 1.8 39.9 18.6 30.4 3.7 -1.4 11.7 20

 21 FA573074005 Contributions receivable -2.4 -2.8 -2.5 -2.5 -3.0 -3.3 -2.7 -2.6 -3.4 21

 22 FA593073005 Claims of pension fund on sponsor (5) 221.1 189.2 194.0 126.9 494.2 -58.5 148.2 75.8 271.5 22

 23 FA593093005 Other -5.0 180.4 24.9 73.6 235.5 387.6 -134.9 290.9 203.6 23

 24 FA594190005 Net increase in pension entitlements (liabilities) 477.6 415.8 399.4 456.6 383.1 424.2 449.5 340.0 342.5 24

 Memo:

 25 FA153050015 Household retirement assets (6) 666.6 639.2 430.3 652.6 527.7 946.2 495.5 237.6 ND 25

 26 FA594190045 Defined benefit plans 272.5 281.1 277.1 277.2 286.4 283.5 282.9 281.3 282.4 26

 27 FA594090055 Defined contribution plans 205.1 134.7 122.3 179.4 96.6 140.7 166.6 58.7 60.2 27

 28 FA893131573 Individual retirement plans (IRAs) (7) 161.6 285.5 144.6 379.6 68.5 549.2 16.3 -244.7 ND 28

 29 FA543150015 Annuities at life insurance companies (8) 27.4 -62.1 -113.7 -183.5 76.2 -27.2 29.7 142.3 ND 29

(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) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements.

(6) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(7) IRA assets are not included above. See memo item on table F.227 for a sectoral distribution of IRA accounts.

(8) Annuities held in IRAs are excluded. They are included in line 28.
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Z.1, December 9, 2022 33

F.118 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA576330005 Gross saving 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 1

 2 FA575013005 Fixed nonresidential investment 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 2

 3 FA574090005 Net acquisition of financial assets (2) 137.6 75.4 58.2 102.8 54.0 86.7 35.0 -1.5 40.4 3

 4 FA573020005 Checkable deposits and currency -4.1 1.5 1.2 1.6 1.5 1.7 1.4 1.3 1.7 4

 5 FA573030005 Time and savings deposits 2.3 -5.9 -4.9 -6.0 -6.0 -6.8 -5.4 -5.1 -6.8 5

 6 FA573034005 Money market fund shares 25.5 24.7 16.8 30.4 24.1 27.7 20.9 24.8 28.3 6

 7 FA572051005 Security repurchase agreements 2.6 7.4 6.0 7.7 7.5 8.4 6.6 6.2 8.4 7

 8 FA574022005 Debt securities 82.0 48.3 29.0 65.9 44.1 54.4 57.8 70.9 84.8 8

 9 FA573069105 Open market paper 5.5 1.8 1.3 2.4 1.7 2.0 1.4 1.3 1.9 9

 10 FA573061105 Treasury securities 2.9 31.8 22.9 40.6 29.6 34.2 24.9 28.7 33.4 10

 11 FA573061705 Agency- and GSE-backed securities 13.5 -8.0 -13.1 -2.3 -9.6 -7.2 11.9 10.6 16.2 11

 12 FA573063005 Corporate and foreign bonds 60.1 22.7 17.9 25.2 22.4 25.3 19.5 30.3 33.3 12

 13 FA573065005 Loans (mortgages) 1.2 0.3 0.3 0.4 0.3 0.4 0.3 0.2 0.4 13

 14 FA573064105 Corporate equities -98.6 -108.7 -79.7 -124.9 -106.4 -123.7 -113.5 -98.0 -131.0 14

 15 FA573064205 Mutual fund shares 34.8 -33.8 1.5 -63.7 -44.2 -28.6 -15.9 -109.0 -85.8 15

 16 FA573090005 Miscellaneous assets 91.7 141.5 88.0 191.5 133.1 153.3 82.8 107.2 140.4 16

 17 FA573095005 Unallocated insurance contracts (3) 26.7 10.0 -5.4 24.1 9.9 11.6 -12.9 -10.0 1.4 17

 18 FA573074005 Contributions receivable -2.4 -2.8 -2.5 -2.5 -3.0 -3.3 -2.7 -2.6 -3.4 18

 19 FA573073005 Claims of pension fund on sponsor (4) -6.7 26.1 17.9 31.5 25.8 29.2 13.7 10.6 29.5 19

 20 FA573093005 Other 74.1 108.2 78.1 138.4 100.4 115.8 84.8 109.2 112.9 20

 21 FA574190005 Net increase in pension entitlements (liabilities) 137.6 75.4 58.2 102.8 54.0 86.7 35.0 -1.5 40.4 21

 Memo:

 Net acquisition of financial assets

 22 FA574090045 Defined benefit plans (5) -35.7 -37.9 -34.1 -35.7 -38.7 -43.3 -43.3 -43.3 -43.3 22

 23 FA574090055 Defined contribution plans (6) 173.3 113.4 92.3 138.5 92.8 130.0 78.3 41.7 83.6 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Additional detail on defined benefit plans is available on table F.118.b.

(6) Additional detail on defined contribution plans is available on table F.118.c.
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34 Z.1, December 9, 2022

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA574090045 Net acquisition of financial assets (1) -35.7 -37.9 -34.1 -35.7 -38.7 -43.3 -43.3 -43.3 -43.3 1

 2 FA573020043 Checkable deposits and currency 3.3 1.5 1.2 1.6 1.5 1.7 1.3 1.3 1.7 2

 3 FA573030043 Time and savings deposits 1.7 -6.5 -5.3 -6.9 -6.6 -7.4 -5.8 -5.5 -7.4 3

 4 FA573034043 Money market fund shares 6.9 8.1 6.6 8.5 8.2 9.2 7.3 6.9 9.3 4

 5 FA572051043 Security repurchase agreements 2.6 7.4 6.0 7.7 7.5 8.4 6.6 6.2 8.4 5

 6 FA574022045 Debt securities 34.8 29.5 24.0 31.0 29.8 33.4 26.3 24.8 33.6 6

 7 FA573069143 Open market paper 4.1 0.4 0.3 0.4 0.4 0.4 0.4 0.3 0.4 7

 8 FA573061143 Treasury securities -13.5 9.8 8.0 10.3 9.9 11.1 8.8 8.3 11.2 8

 9 FA573061743 Agency- and GSE-backed securities 0.1 0.8 0.7 0.9 0.8 0.9 0.7 0.7 0.9 9

 10 FA573063043 Corporate and foreign bonds 44.1 18.5 15.0 19.4 18.6 20.9 16.4 15.5 21.0 10

 11 FA573065043 Loans (mortgages) 0.4 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 11

 12 FA573064143 Corporate equities -86.3 -102.7 -83.4 -107.6 -103.5 -116.2 -91.4 -86.4 -116.7 12

 13 FA573064243 Mutual fund shares 0.3 -21.7 -17.6 -22.7 -21.9 -24.5 -19.3 -18.2 -24.6 13

 14 FA573090045 Miscellaneous assets 0.7 46.3 34.2 52.6 46.2 52.0 31.7 27.6 52.4 14

 15 FA573095405 Unallocated insurance contracts (2) -1.1 -4.6 -3.7 -4.8 -4.6 -5.2 -4.1 -3.8 -5.2 15

 16 FA573074043 Contributions receivable -3.8 -4.3 -3.5 -4.5 -4.3 -4.8 -3.8 -3.6 -4.9 16

 17 FA573073005 Claims of pension fund on sponsor (3) -6.7 26.1 17.9 31.5 25.8 29.2 13.7 10.6 29.5 17

 18 FA573093043 Other 12.3 29.0 23.5 30.4 29.2 32.8 25.8 24.4 32.9 18

 19 FA574190043 Net increase in pension entitlements (liabilities) -35.7 -37.9 -34.1 -35.6 -38.7 -43.3 -43.3 -43.3 -43.3 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements.

F.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA574090055 Net acquisition of financial assets 173.3 113.4 92.3 138.5 92.8 130.0 78.3 41.7 83.6 1

 2 FA573020033 Checkable deposits and currency -7.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA573030033 Time and savings deposits 0.6 0.6 0.4 0.9 0.6 0.6 0.5 0.4 0.6 3

 4 FA573034055 Money market fund shares 18.7 16.6 10.2 21.8 15.9 18.5 13.6 17.9 19.0 4

 5 FA572051033 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA574022035 Debt securities 47.2 18.8 5.0 34.9 14.3 20.9 31.5 46.0 51.2 6

 7 FA573069133 Open market paper 1.4 1.4 1.0 2.0 1.3 1.5 1.1 0.9 1.5 7

 8 FA573061133 Treasury securities 16.4 22.0 14.9 30.3 19.7 23.1 16.2 20.4 22.2 8

 9 FA573061733 Agency- and GSE-backed securities 13.4 -8.9 -13.7 -3.2 -10.5 -8.1 11.1 9.9 15.3 9

 10 FA573063033 Corporate and foreign bonds 16.0 4.2 2.9 5.8 3.8 4.4 3.1 14.8 12.3 10

 11 FA573065033 Loans (mortgages) 0.8 0.2 0.2 0.3 0.2 0.2 0.2 0.2 0.2 11

 12 FA573064133 Corporate equities -12.3 -6.0 3.7 -17.3 -2.8 -7.5 -22.1 -11.7 -14.3 12

 13 FA573064255 Mutual fund shares 34.5 -12.1 19.1 -41.0 -22.3 -4.1 3.4 -90.7 -61.2 13

 14 FA573090055 Miscellaneous assets 91.1 95.2 53.8 138.9 86.9 101.3 51.2 79.6 88.0 14

 15 FA573095505 Unallocated insurance contracts (2) 27.8 14.6 -1.7 28.9 14.5 16.7 -8.9 -6.2 6.6 15

 16 FA573074033 Contributions receivable 1.4 1.5 1.0 2.0 1.3 1.5 1.1 1.0 1.5 16

 17 FA573093055 Other 61.8 79.2 54.5 108.0 71.2 83.0 59.0 84.8 80.0 17

 18 FA574090055 Net increase in pension entitlements (liabilities) 173.3 113.4 92.3 138.5 92.8 130.0 78.3 41.7 83.6 18

(1) Includes 401(k) and 403(b) type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
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F.119 Federal Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA344090005 Net acquisition of financial assets (1) 96.9 79.8 90.8 97.2 70.2 60.9 158.6 110.5 53.6 1

 2 FA343020033 Checkable deposits and currency 0.2 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 2

 3 FA344022005 Debt securities 147.8 159.1 149.0 240.8 -858.2 1104.9 308.4 280.3 77.1 3

 4 FA343061105 Treasury securities (2) 145.5 160.2 148.5 241.5 -852.5 1103.5 308.9 285.1 79.0 4

 5 FA343061705 Agency- and GSE-backed securities 1.3 0.3 -0.5 -0.4 -1.9 4.0 -0.6 -2.3 -0.8 5

 6 FA343062033 Municipal securities -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 -0.0 6

 7 FA343063005 Corporate and foreign bonds 0.9 -1.4 1.0 -0.3 -3.8 -2.6 0.1 -2.5 -1.1 7

 8 FA343064105 Corporate equities -23.9 10.2 18.4 13.6 -9.5 18.5 -31.7 17.7 -12.8 8

 9 FA313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 722.2 -722.2 0.0 0.0 0.0 9

 10 FA343073045 Claims of pension fund on sponsor (misc. assets) (4) -27.3 -90.1 -77.0 -157.7 215.3 -340.8 -118.6 -187.9 -11.1 10

 11 FA344090005 Net increase in pension entitlements (liabilities) 96.9 79.8 90.8 97.2 70.2 60.9 158.6 110.5 53.6 11

 Memo:

 Net acquisition of financial assets

 12 FA344090045 Defined benefit plans (5) 72.0 76.4 73.8 71.3 79.8 81.0 80.3 78.8 79.8 12

 13 FA344090055 Defined contibution plans (6) 24.9 3.4 17.1 26.0 -9.6 -20.0 78.2 31.8 -26.2 13

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Comprised primarily of nonmarketable Treasury securities.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Unfunded defined benefit pension entitlements.

(5) Additional detail on defined benefit plans is available on table F.119.b

(6) Additional detail on defined contribution plans is available on table F.119.c.
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36 Z.1, December 9, 2022

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA344090045 Net acquisition of financial assets (2) 72.0 76.4 73.8 71.3 79.8 81.0 80.3 78.8 79.8 1

 2 FA343020033 Checkable deposits and currency 0.2 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 2

 3 FA344022045 Debt securities 101.0 166.5 153.6 231.5 -141.3 422.2 200.3 265.8 92.0 3

 4 FA343061165 Treasury securities (3) 101.5 167.0 151.5 231.1 -136.3 421.5 199.7 266.5 92.5 4

 5 FA343061733 Agency- and GSE-backed securities -0.2 -0.3 0.2 0.1 -1.6 0.1 0.0 -0.2 -0.1 5

 6 FA343062033 Municipal securities -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 -0.0 6

 7 FA343063033 Corporate and foreign bonds -0.3 -0.2 1.9 0.2 -3.4 0.6 0.6 -0.5 -0.4 7

 8 FA343064135 Corporate equities -2.0 -0.5 -3.4 -3.0 5.3 -1.0 -1.9 0.4 -1.6 8

 9 FA343073045 Claims of pension fund on sponsor (misc. assets) (4) -27.3 -90.1 -77.0 -157.7 215.3 -340.8 -118.6 -187.9 -11.1 9

 10 FA344190045 Net increase in pension entitlements (liabilities) 72.0 76.4 73.8 71.3 79.8 81.0 80.3 78.8 79.8 10

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Comprised primarily of nonmarketable Treasury securities.

(4) Unfunded defined benefit pension entitlements.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA344090055 Net acquisition of financial assets 24.9 3.4 17.1 26.0 -9.6 -20.0 78.2 31.8 -26.2 1

 2 FA344022025 Debt securities 46.8 -7.4 -4.6 9.3 -716.9 682.7 108.1 14.5 -14.9 2

 3 FA343061155 Treasury securities (2) 44.0 -6.7 -2.9 10.3 -716.3 682.0 109.2 18.6 -13.6 3

 4 FA343061723 Agency- and GSE-backed securities 1.5 0.6 -0.8 -0.5 -0.3 3.9 -0.6 -2.1 -0.7 4

 5 FA343063023 Corporate and foreign bonds 1.3 -1.3 -0.9 -0.5 -0.4 -3.2 -0.6 -2.0 -0.7 5

 6 FA343064125 Corporate equities -21.9 10.7 21.7 16.6 -14.9 19.5 -29.9 17.3 -11.2 6

 7 FA313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 722.2 -722.2 0.0 0.0 0.0 7

 8 FA344090055 Net increase in pension entitlements (liabilities) 24.9 3.4 17.1 26.0 -9.6 -20.0 78.2 31.8 -26.2 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable Treasury securities held in the G fund and marketable Treasury securities held in the F fund.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
Transactions

Z.1, December 9, 2022 37

F.120 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA226330005 Gross saving 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 1

 2 FA225013005 Fixed nonresidential investment 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 2

 3 FA224090005 Net acquisition of financial assets (1) 243.2 260.6 250.3 256.5 258.8 276.6 255.9 231.0 248.5 3

 4 FA223020043 Checkable deposits and currency 6.0 -0.8 -12.7 4.1 29.6 -24.1 1.7 10.1 4.2 4

 5 FA223030043 Time and savings deposits -2.0 0.5 0.0 0.5 -1.3 2.5 -10.0 7.1 -0.4 5

 6 FA223034005 Money market fund shares 0.3 -4.7 8.1 -7.6 30.9 -50.2 25.3 -4.8 0.4 6

 7 FA222051043 Security repurchase agreements 1.1 22.6 42.2 23.1 -33.7 58.9 -41.2 7.9 -2.0 7

 8 FA224022045 Debt securities 74.6 186.9 250.4 275.7 47.2 174.3 76.7 -54.1 60.0 8

 9 FA223069143 Open market paper -3.8 6.0 26.9 11.2 2.4 -16.5 34.8 -4.2 4.0 9

 10 FA223061143 Treasury securities 1.0 103.0 69.5 187.1 52.5 103.0 -99.1 59.6 28.5 10

 11 FA223061743 Agency- and GSE-backed securities 24.2 6.3 21.3 -6.5 41.8 -31.5 39.6 -6.6 10.6 11

 12 FA223062043 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA223063045 Corporate and foreign bonds 53.2 71.6 132.7 83.9 -49.5 119.4 101.4 -102.9 16.8 13

 14 FA223065043 Loans (mortgages) -0.9 1.1 2.0 -0.7 -0.1 3.2 -5.4 2.2 -0.0 14

 15 FA223064145 Corporate equities -28.4 -121.4 -165.0 -199.0 -253.5 131.9 97.3 -139.0 -40.1 15

 16 FA223064205 Mutual fund shares 8.8 -161.6 -81.9 -43.6 42.8 -563.8 61.6 -41.8 -127.6 16

 17 FA223090005 Miscellaneous assets 183.7 338.0 207.2 204.1 396.9 543.8 50.1 443.4 354.0 17

 18 FA223095505 Unallocated insurance contracts (2) 7.7 12.6 7.2 15.8 8.7 18.9 16.6 8.7 10.3 18

 19 FA223073045 Claims of pension fund on sponsor (3) 255.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 19

 20 FA223093005 Other -79.1 72.2 -53.2 -64.9 135.1 271.8 -219.7 181.6 90.6 20

 21 FA224190005 Net increase in pension entitlements (liabilities) 243.2 260.6 250.3 256.5 258.8 276.5 255.9 231.0 248.5 21

 Memo:

 Net acquisition of financial assets

 22 FA224090045 Defined benefit plans (4) 236.3 242.6 237.4 241.6 245.4 245.8 245.8 245.8 245.8 22

 23 FA224090055 Defined contibution plans (5) 6.9 18.0 12.9 14.9 13.5 30.7 10.1 -14.8 2.7 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.

(3) Unfunded defined benefit pension entitlements.

(4) Additional detail on defined benefit plans is available on table F.120.b.

(5) Additional detail on defined contribution plans is available on table F.120.c.
Transactions

38 Z.1, December 9, 2022

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA224090045 Net acquisition of financial assets (1) 236.3 242.6 237.4 241.6 245.4 245.8 245.8 245.8 245.8 1

 2 FA223020043 Checkable deposits and currency 6.0 -0.8 -12.7 4.1 29.6 -24.1 1.7 10.1 4.2 2

 3 FA223030043 Time and savings deposits -2.0 0.5 0.0 0.5 -1.3 2.5 -10.0 7.1 -0.4 3

 4 FA223034043 Money market fund shares 0.2 -4.4 8.5 -7.1 31.0 -50.0 25.3 -4.8 0.4 4

 5 FA222051043 Security repurchase agreements 1.1 22.6 42.2 23.1 -33.7 58.9 -41.2 7.9 -2.0 5

 6 FA224022045 Debt securities 74.6 186.9 250.4 275.7 47.2 174.3 76.7 -54.1 60.0 6

 7 FA223069143 Open market paper -3.8 6.0 26.9 11.2 2.4 -16.5 34.8 -4.2 4.0 7

 8 FA223061143 Treasury securities 1.0 103.0 69.5 187.1 52.5 103.0 -99.1 59.6 28.5 8

 9 FA223061743 Agency- and GSE-backed securities 24.2 6.3 21.3 -6.5 41.8 -31.5 39.6 -6.6 10.6 9

 10 FA223062043 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA223063045 Corporate and foreign bonds 53.2 71.6 132.7 83.9 -49.5 119.4 101.4 -102.9 16.8 11

 12 FA223065043 Loans (mortgages) -0.9 1.1 2.0 -0.7 -0.1 3.2 -5.4 2.2 -0.0 12

 13 FA223064145 Corporate equities -28.4 -121.4 -165.0 -199.0 -253.5 131.9 97.3 -139.0 -40.1 13

 14 FA223064243 Mutual fund shares 10.1 -166.9 -87.6 -42.9 38.3 -575.4 68.5 -17.9 -119.5 14

 15 FA223090045 Miscellaneous assets 175.6 324.9 199.5 187.8 387.8 524.5 33.0 434.3 343.3 15

 16 FA223073045 Claims of pension fund on sponsor (2) 255.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 16

 17 FA223093043 Other -79.5 71.8 -53.6 -65.3 134.7 271.4 -220.1 181.2 90.2 17

 18 FA224190043 Net increase in pension entitlements (liabilities) 236.2 242.5 237.4 241.6 245.3 245.8 245.8 245.8 245.8 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

F.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA224090055 Net acquisition of financial assets 6.9 18.0 12.9 14.9 13.5 30.7 10.1 -14.8 2.7 1

 2 FA223034055 Money market fund shares 0.1 -0.3 -0.4 -0.6 -0.1 -0.2 -0.0 0.0 0.1 2

 3 FA223064255 Mutual fund shares -1.3 5.3 5.7 -0.7 4.5 11.6 -6.9 -23.9 -8.1 3

 4 FA223090055 Miscellaneous assets 8.1 13.1 7.6 16.2 9.1 19.3 17.0 9.1 10.7 4

 5 FA223095505 Unallocated insurance contracts (misc. assets) (2) 7.7 12.6 7.2 15.8 8.7 18.9 16.6 8.7 10.3 5

 6 FA223093053 Other 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 6

 7 FA224090055 Net increase in pension entitlements (liabilities) 6.9 18.0 12.9 14.9 13.5 30.7 10.1 -14.8 2.7 7

(1) Includes 403(b) and 457 type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
Transactions

Z.1, December 9, 2022 39

F.121 Money Market Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA634090005 Net acquisition of financial assets 763.5 439.5 1155.7 304.7 -186.7 484.4 -157.6 -79.7 8.2 1

 2 FA633091003 Foreign deposits -6.7 -0.5 5.8 -7.6 2.4 -2.4 4.1 0.1 -0.4 2

 3 FA633030000 Time and savings deposits -136.0 -20.5 157.0 -189.4 33.4 -83.2 98.8 -1.5 117.5 3

 4 FA632051000 Security repurchase agreements -173.9 1427.0 828.4 1689.6 2256.4 933.5 -154.9 450.8 664.0 4

 5 FA634022005 Debt securities 1088.7 -956.4 294.6 -1111.3 -2822.5 -186.4 -248.6 -565.0 -670.2 5

 6 FA633069175 Open market paper -91.5 -6.0 88.1 -177.3 67.5 -2.3 -54.9 -69.7 111.5 6

 7 FA633061105 Treasury securities 1343.3 -651.3 387.8 -569.3 -2593.9 170.4 -305.5 -560.0 -1044.8 7

 8 FA633061700 Agency- and GSE-backed securities -140.1 -278.3 -157.2 -345.1 -278.9 -331.7 95.5 58.9 248.4 8

 9 FA633062000 Municipal securities -14.0 -14.6 -23.3 -16.6 -6.0 -12.4 22.6 13.0 4.6 9

 10 FA633063005 Corporate and foreign bonds -9.0 -6.3 -0.7 -3.0 -11.2 -10.5 -6.2 -7.2 10.1 10

 11 FA633093005 Miscellaneous assets (net) -8.6 -10.0 -130.2 -76.6 343.6 -177.0 143.1 35.9 -102.6 11

 12 FA634090005 Net share issues (liabilities) 763.5 439.5 1155.7 304.7 -186.7 484.4 -157.6 -79.7 8.2 12

 Memo:

 13 FA634090010 Stable NAV money market funds included above 757.0 458.9 981.9 317.9 -131.4 667.0 -340.9 -9.1 -96.2 13

 14 FA634090020 Floating NAV money market funds included above (2) 6.5 -19.3 173.8 -13.2 -55.3 -182.6 183.3 -70.6 104.3 14

 15 FA634090033 Government money market funds included above 972.7 549.2 812.3 282.5 137.9 963.9 -611.1 -321.2 -238.4 15

 16 FA634090043 Prime money market funds included above -180.4 -89.9 66.8 -117.3 -103.6 -205.5 150.0 20.9 464.4 16

 17 FA634090053 Tax-exempt money market funds included above -28.9 -19.7 -22.8 -23.6 -18.9 -13.5 2.1 67.2 -18.8 17

 18 FA634090503 Variable annuity money market funds included above 5.6 -5.7 -6.7 -10.2 -3.2 -2.6 15.1 11.5 2.8 18

(1) Open-end investment companies including variable annuity money market funds.

(2) Floating NAV data begin 2016:Q4, corresponding to the implementaion of Securities and Exchange Commission money market reforms on October 14, 2016. Some funds used floating NAV

 prior to this date.

F.122 Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA656006403 Gross saving -36.1 28.5 25.7 27.7 23.1 37.4 45.0 35.0 35.0 1

 2 FA654090000 Net acquisition of financial assets -229.1 215.7 357.3 166.7 308.4 30.5 -444.3 -1155.1 -573.2 2

 3 FA653034003 Money market funds -11.2 0.2 108.3 -34.3 63.5 -136.7 107.9 -181.8 -64.0 3

 4 FA652051003 Security repurchase agreements (net) 26.4 30.0 76.3 60.9 -30.0 12.5 -13.1 40.0 -6.8 4

 5 FA654022005 Debt securities 323.4 595.3 1163.5 317.4 630.2 269.9 327.5 -638.0 -122.8 5

 6 FA653069100 Open market paper -2.6 -10.5 8.1 -15.3 10.4 -45.1 17.7 -34.8 6.6 6

 7 FA653061105 Treasury securities 1.5 343.8 477.4 423.2 247.0 227.5 81.3 -146.3 -30.4 7

 8 FA653061703 Agency- and GSE-backed securities 8.4 -118.0 -103.0 -238.2 22.5 -153.3 133.7 53.8 -22.1 8

 9 FA653062003 Municipal securities 49.7 109.4 123.8 133.3 124.8 55.9 -54.5 -207.0 -53.6 9

 10 FA653063005 Corporate and foreign bonds 266.3 270.5 657.3 14.5 225.5 184.8 149.4 -303.6 -23.2 10

 11 FA653069803 Loans (other loans and advances) -30.2 55.5 63.7 68.3 38.7 51.5 82.4 -42.5 -61.6 11

 12 FA653064100 Corporate equities -481.4 -317.3 -590.3 -198.7 -102.8 -377.6 -522.7 -328.3 -252.9 12

 13 FA653093005 Miscellaneous assets -56.1 -147.9 -464.2 -46.9 -291.2 210.9 -426.3 -4.5 -65.0 13

 14 FA653164205 Net share issues (liabilities) -229.1 215.7 357.3 166.7 308.4 30.5 -444.3 -1155.1 -573.2 14

 15 FA657005005 Discrepancy -36.1 28.5 25.7 27.7 23.1 37.4 45.0 35.0 35.0 15

 Memo:

 16 FA654090500 Variable annuity mutual funds included above -116.1 -151.4 -126.3 -222.5 -137.4 -119.2 -139.9 -118.4 -76.0 16

 Net acquisition of financial assets by investment objective:

 17 FA654091600 Domestic equity funds -381.6 -331.6 -318.9 -435.9 -247.5 -324.3 -205.4 -210.4 -180.4 17

 18 FA654092603 World equity funds -140.4 33.2 -161.6 43.6 79.7 170.9 -15.2 -154.7 -71.1 18

 19 FA654091403 Hybrid funds -58.1 17.0 2.0 20.2 44.3 1.5 -21.2 -71.1 -56.4 19

 20 FA654091303 Taxable bond funds 295.6 397.9 668.2 446.4 305.0 172.1 -171.5 -481.2 -219.2 20

 21 FA654091203 Municipal bond funds 55.5 99.3 120.3 109.5 115.7 51.5 -99.1 -222.1 -49.3 21

(1) Open-end investment companies including variable annuity mutual funds. Quarterly figures for net acquisition of financial assets by investment objective (lines 16 through 20)

 are not seasonally adjusted and therefore may not sum to total net acquisition of financial assets (line 2).
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40 Z.1, December 9, 2022

F.123 Closed-End Funds 

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA554090005 Net acquisition of financial assets 2.7 17.2 27.2 16.2 12.6 12.7 1.5 2.2 -2.1 1

 2 FA554022005 Debt securities 0.8 9.2 10.4 8.0 10.4 7.9 0.3 0.6 -2.1 2

 3 FA553061103 Treasury securities -0.4 0.3 0.6 0.3 0.1 0.0 -0.0 2.9 -0.2 3

 4 FA553062003 Municipal securities -0.3 0.7 1.5 1.1 0.2 0.1 0.4 -0.1 -1.8 4

 5 FA553063003 Corporate and foreign bonds 1.5 8.2 8.3 6.6 10.1 7.8 -0.1 -2.2 -0.1 5

 6 FA553064103 Corporate equities 1.9 8.0 16.7 8.2 2.2 4.8 1.2 1.6 -0.0 6

 7 FA554090005 Net share issues (liabilities) 2.7 17.2 27.2 16.2 12.6 12.7 1.5 2.2 -2.1 7

 Memo:

 Net acquisition of financial assets by investment objective:

 8 FA554091603 Domestic equity funds 2.0 6.0 16.9 6.8 -0.4 0.7 1.2 -0.1 -0.0 8

 9 FA554092603 World equity funds -0.1 2.0 -0.2 1.4 2.7 4.1 0.0 1.7 0.0 9

 10 FA554091303 Domestic taxable bond funds 0.6 6.3 0.4 6.9 10.2 7.8 -0.1 0.7 -0.3 10

 11 FA554091203 Municipal bond funds -0.3 0.7 1.5 1.1 0.2 0.1 0.4 -0.1 -1.8 11

 12 FA554092303 World bond funds 0.6 2.1 8.6 0.0 0.0 -0.1 0.0 0.0 -0.0 12

F.124 Exchange-Traded Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA564090005 Net acquisition of financial assets 500.9 935.5 1075.9 1076.4 719.4 870.2 870.4 556.7 396.0 1

 2 FA563034003 Money market funds 4.6 4.8 -9.4 7.6 27.8 -6.9 -15.6 -23.2 -4.2 2

 3 FA564022005 Debt securities 195.0 202.0 179.8 247.8 176.0 204.6 111.0 213.7 217.5 3

 4 FA563061103 Treasury securities 32.0 66.1 45.1 62.3 50.7 106.4 71.7 164.4 148.0 4

 5 FA563062003 Municipal securities 13.7 20.6 21.2 23.9 18.4 18.7 19.0 37.3 1.5 5

 6 FA563063003 Corporate and foreign bonds 149.3 115.4 113.5 161.6 106.9 79.5 20.3 12.0 68.1 6

 7 FA563064100 Corporate equities 260.2 732.4 922.2 802.6 532.1 672.9 705.5 377.0 225.1 7

 8 FA563093003 Miscellaneous assets (1) 41.1 -3.8 -16.8 18.4 -16.5 -0.3 69.5 -10.7 -42.4 8

 9 FA564090005 Net share issues (liabilities) 500.9 935.5 1075.9 1076.4 719.4 870.2 870.4 556.7 396.0 9

 Memo:

 Net acquisition of financial assets by investment objective:

 10 FA564091600 Domestic equity funds 189.1 519.6 637.1 521.0 297.3 622.8 571.0 203.1 140.8 10

 11 FA564092603 World equity funds 62.6 211.1 311.8 210.1 164.4 158.2 165.2 86.6 9.2 11

 12 FA564091703 Commodity funds (1) 43.7 -4.2 -19.6 20.4 -17.7 -0.2 74.7 -13.0 -46.0 12

 13 FA564091403 Hybrid funds 4.2 6.4 -0.7 9.1 10.5 6.7 -3.6 -4.2 -1.9 13

 14 FA564091303 Taxable bond funds 187.2 181.7 151.8 224.1 174.5 176.7 76.8 161.5 217.2 14

 15 FA564091203 Municipal bond funds 14.2 20.9 21.1 24.2 19.9 18.3 18.0 36.6 1.3 15

(1) Investments primarily in commodities, currencies, and futures.
Transactions

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F.125 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA406000105 Gross saving 6.0 5.5 6.5 5.6 5.3 4.6 5.1 5.1 5.1 1

 2 FA405013005 Fixed nonresidential investment 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 2

 3 FA404090005 Net acquisition of financial assets 594.9 594.2 860.3 489.2 495.0 532.4 1122.5 937.9 924.8 3

 4 FA403020005 Checkable deposits and currency 57.8 -29.9 245.7 -341.1 71.1 -95.2 -40.5 7.3 -38.2 4

 5 FA403030005 Time and savings deposits -7.0 -2.2 -6.4 -3.7 0.3 0.9 3.5 11.3 13.0 5

 6 FA402050005 Federal funds and security repos 17.3 -2.8 -262.8 439.9 -166.4 -22.0 34.0 236.4 108.8 6

 7 FA404022005 Debt securities 46.7 -71.2 -113.0 -102.6 -33.8 -35.3 93.5 -60.0 37.0 7

 8 FA403069105 Open market paper 0.2 -2.6 -1.3 -6.3 -2.7 -0.1 7.0 5.7 7.8 8

 9 FA403061105 Treasury securities 78.9 -43.2 -74.8 -67.1 -17.7 -13.3 78.8 -85.3 -14.4 9

 10 FA403061705 Agency- and GSE-backed securities -29.3 -23.8 -34.8 -27.1 -12.3 -20.8 7.5 19.0 41.5 10

 11 FA403062005 Municipal securities -0.5 -0.4 -0.2 -0.3 -0.6 -0.3 -0.0 -1.1 -0.0 11

 12 FA403063005 Corporate and foreign bonds -2.6 -1.2 -2.0 -1.8 -0.5 -0.7 0.2 1.8 2.1 12

 13 FA404023005 Loans 417.7 730.8 958.5 595.3 628.2 741.2 1087.0 840.6 833.4 13

 14 FA403069305 Other loans and advances -215.1 -52.3 64.0 -266.9 -43.0 36.6 280.9 429.3 593.7 14

 15 FA403069385 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA403069345 Farm Credit System 13.5 11.2 2.1 -1.7 8.9 35.7 43.6 -11.1 14.5 16

 17 FA403069330 FHLB loans -228.6 -63.6 61.9 -265.1 -52.0 0.9 237.2 440.4 579.3 17

 18 FA403065005 Mortgages 632.9 783.1 894.5 862.1 671.3 704.6 806.2 411.4 239.7 18

 19 FA403065105 One-to-four-family residential 560.3 738.9 847.5 852.2 614.8 641.2 768.2 379.2 201.8 19

 20 FA403065195 Consolidated trusts (2) 532.9 833.9 870.0 1150.3 676.9 638.3 823.9 420.2 242.7 20

 21 FA403065185 Other 27.4 -94.9 -22.5 -298.1 -62.1 3.0 -55.7 -41.1 -40.9 21

 22 FA403065405 Multifamily residential 55.4 25.5 29.4 -9.5 37.7 44.6 25.9 19.1 26.7 22

 23 FA403065495 Consolidated trusts (2) 51.9 36.5 65.9 18.2 31.8 30.0 38.3 33.6 25.9 23

 24 FA403065485 Other 3.5 -10.9 -36.5 -27.7 5.9 14.6 -12.4 -14.5 0.8 24

 25 FA403065605 Farm 17.2 18.7 17.7 19.4 18.8 18.8 12.0 13.1 11.2 25

 26 FA403066005 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FA403093005 Miscellaneous assets 62.3 -30.5 38.3 -98.5 -4.4 -57.3 -55.0 -97.8 -29.2 27

 28 FA404194005 Net increase in liabilities and equity 634.9 531.6 594.0 427.7 588.5 516.0 856.7 775.4 989.3 28

 29 FA404190005 Net increase in liabilities 641.9 533.1 597.5 429.4 593.6 511.7 851.2 752.6 967.6 29

 30 FA402150005 Federal funds and security repos 0.0 0.0 0.4 -0.4 0.0 0.0 0.0 0.0 0.0 30

 31 FA403161705 Debt securities (GSE issues) (3) 635.9 539.4 665.9 483.5 514.8 493.5 888.3 747.5 841.6 31

 32 FA403161795 Consolidated trusts (2) 584.8 870.3 935.9 1168.5 708.6 668.3 862.3 453.8 268.7 32

 33 FA403161785 Other 51.1 -330.9 -269.9 -685.0 -193.8 -174.8 26.0 293.6 572.9 33

 34 FA403169283 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 FA403190005 Miscellaneous liabilities 5.9 -6.4 -68.8 -53.6 78.8 18.2 -37.1 5.2 126.0 35

 36 FA403164105 Net equity issues (corporate equities) -7.0 -1.5 -3.5 -1.7 -5.1 4.3 5.5 22.8 21.7 36

 37 FA407005005 Discrepancy 45.6 -57.6 -260.2 -56.4 98.4 -12.3 -261.2 -157.9 69.1 37

(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.126) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (F.125).

(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) Such issues are classified as agency- and GSE-backed securities.

F.126 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA413065005 Net acquisition of financial assets 22.3 73.5 33.7 117.5 51.5 91.2 152.5 201.0 209.3 1

 2 FA413065105 One-to-four-family residential mortgages -15.8 35.4 -28.7 67.3 32.6 70.6 140.5 188.2 205.9 2

 3 FA413065405 Multifamily residential mortgages 38.3 37.7 62.8 50.1 18.8 19.3 12.1 12.8 3.4 3

 4 FA413065505 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA413065605 Farm mortgages -0.2 0.3 -0.4 0.1 0.1 1.3 -0.1 0.0 0.0 5

 6 FA413065005 Net increase in pool securities (liabilities)(2) 22.3 73.5 33.7 117.5 51.5 91.2 152.5 201.0 209.3 6

(1) Ginnie Mae, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.126) are consolidated

 on Fannie Mae’s and Freddie Mac’s balance sheets (table F.125). 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 and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
Transactions

42 Z.1, December 9, 2022

F.127 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA676330023 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA675013025 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA674090005 Net acquisition of financial assets 55.7 158.0 43.7 103.2 211.7 273.5 173.1 107.8 68.8 3

 4 FA674022005 Debt securities -2.7 1.5 -7.0 -4.6 5.2 12.5 10.5 4.8 2.5 4

 5 FA673061103 Treasury securities -2.7 1.5 -7.0 -4.6 5.2 12.5 10.5 4.8 2.5 5

 6 FA673061703 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FA674023005 Loans 34.7 113.0 10.1 37.7 167.9 236.2 112.6 90.2 64.1 7

 8 FA673069005 Other loans and advances 47.4 61.5 8.2 36.6 104.7 96.6 35.1 54.6 52.9 8

 9 FA673065005 Mortgages (2) -11.5 51.9 3.1 1.4 66.1 136.8 79.9 33.7 11.7 9

 10 FA673065105 One-to-four-family residential -31.2 -1.6 -56.4 -16.3 29.3 37.1 27.9 19.7 9.2 10

 11 FA673065405 Multifamily residential 5.3 12.3 5.9 1.8 8.8 32.9 30.6 -14.9 -0.7 11

 12 FA673065505 Commercial 14.4 41.1 53.6 15.9 28.0 66.9 21.4 28.9 3.3 12

 13 FA673066000 Consumer credit -1.2 -0.5 -1.3 -0.4 -3.0 2.8 -2.4 1.8 -0.5 13

 14 FA673070003 Trade credit 0.6 3.0 -3.8 8.4 -4.3 11.8 -8.0 4.3 5.2 14

 15 FA673090543 Miscellaneous assets (funding agreements) (3) 23.2 40.5 44.4 61.7 42.9 12.9 58.0 8.4 -3.0 15

 16 FA674122005 Net increase in liabilities 55.7 158.0 43.7 103.2 211.7 273.5 173.1 107.8 68.8 16

 17 FA673169105 Commercial paper 24.6 -16.7 -107.0 -115.8 3.2 152.9 166.7 56.2 18.9 17

 18 FA673163005 Corporate bonds (net) (4) 31.1 174.7 150.7 219.0 208.5 120.6 6.4 51.6 49.9 18

 19 FA677005005 Discrepancy 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 FA675013263 Consumer leases (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA643065045 REIT assets (6) -10.3 16.4 -13.1 44.0 8.5 26.3 23.9 11.8 -14.1 21

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Funding agreements with life insurance companies.

(4) Net issuance less net acquisition of corporate bonds held as assets.

(5) Receivables from operating leases, such as consumer automobile leases, are recorded 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 is included in line 1, and fixed investment is included in line 2.

(6) Included in table F.129.
Transactions

Z.1, December 9, 2022 43

F.128 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA616000105 Gross saving less net capital transfers paid (2) 123.9 154.4 146.8 162.9 154.2 153.5 143.7 146.1 150.1 1

 2 FA615013005 Fixed nonresidential investment 59.1 63.8 62.2 63.7 64.1 65.4 68.3 69.5 72.1 2

 3 FA614090005 Net acquisition of financial assets 39.1 -24.7 59.3 80.1 -62.1 -176.2 -44.1 51.9 59.0 3

 4 FA613020003 Checkable deposits and currency 4.2 -2.0 -2.7 2.1 1.0 -8.6 -16.7 -2.0 -6.7 4

 5 FA613030003 Time and savings deposits 12.5 -6.1 -8.1 6.4 3.0 -25.9 -50.0 -6.1 -20.1 5

 6 FA613063003 Debt securities (corporate and foreign bonds) 9.7 29.3 1.3 24.7 28.5 62.8 0.8 0.8 17.9 6

 7 FA614023005 Loans -9.9 -5.5 46.1 62.9 -29.9 -101.3 -26.3 28.5 45.1 7

 8 FA613069505 Other loans and advances -16.4 -25.3 8.5 27.9 -47.0 -90.8 -8.2 44.6 39.3 8

 9 FA613065000 Mortgages -7.2 -5.8 -14.3 -3.8 -4.9 -0.1 -14.4 -0.2 0.5 9

 10 FA613066005 Consumer credit 13.7 25.6 51.9 38.8 22.0 -10.4 -3.7 -15.9 5.4 10

 11 FA613092003 U.S. direct investment abroad 9.6 23.1 67.1 0.0 14.2 11.1 30.4 25.9 39.8 11

 12 FA613090005 Miscellaneous assets 12.9 -63.4 -44.4 -16.1 -78.9 -114.3 17.8 4.8 -16.9 12

 13 FA614194005 Net increase in liabilities and equity 24.5 -45.5 -21.8 119.1 -100.0 -179.3 -119.2 31.0 -62.2 13

 14 FA614190005 Net increase in liabilities 20.9 -52.4 -25.5 107.5 -106.6 -185.1 -124.7 24.2 -68.8 14

 15 FA614122005 Debt securities -20.2 -46.1 -77.5 11.9 -137.0 18.3 -2.2 64.4 126.2 15

 16 FA613169100 Open market paper -21.7 -0.5 2.0 -6.6 4.5 -2.1 -15.3 2.5 26.6 16

 17 FA613163005 Corporate bonds 1.5 -45.5 -79.6 18.5 -141.5 20.4 13.1 61.9 99.6 17

 18 FA614123005 Loans 24.8 12.7 -11.9 163.0 -28.2 -72.1 -121.7 -29.7 -6.2 18

 19 FA613168005 Depository institution loans n.e.c. 25.3 13.1 -10.3 162.9 -28.3 -72.1 -121.7 -29.7 -6.2 19

 20 FA613169005 Other loans and advances -0.5 -0.4 -1.6 0.0 0.0 -0.0 0.0 -0.0 -0.1 20

 21 FA613178005 Taxes payable 0.1 -0.3 1.7 -2.2 3.5 -4.3 -1.1 -2.1 -6.5 21

 22 FA613192305 Foreign direct investment: intercompany debt -0.8 0.5 0.2 -0.2 0.4 1.4 0.1 -0.1 -1.1 22

 23 FA613190005 Miscellaneous liabilities 17.1 -19.2 62.1 -65.0 54.7 -128.5 0.1 -8.4 -181.1 23

 24 FA613194703 Other investment by parent -5.0 -13.1 -2.7 -42.1 -11.5 4.1 -8.5 6.9 -15.5 24

 25 FA613193005 Other 22.0 -6.1 64.7 -22.9 66.1 -132.6 8.6 -15.3 -165.7 25

 26 FA613192103 Net equity issues (foreign direct investment) 3.5 6.9 3.8 11.6 6.6 5.8 5.5 6.8 6.5 26

 27 FA617005005 Discrepancy 50.2 69.7 3.6 138.2 52.1 85.0 0.3 55.7 -43.3 27

 Memo:

 28 FA613066303 Consumer leases not included above (3) -9.4 -6.6 3.1 4.7 -13.2 -21.2 -26.4 -26.4 -24.6 28

(1) Includes retail captive finance companies and mortgage companies.

(2) Net capital transfers paid from table F.5, line 57.

(3) Receivables from operating leases, such as consumer automobile leases, are recorded 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 is included in line 1, and fixed investment is included in line 2.
Transactions

44 Z.1, December 9, 2022

F.129 Real Estate Investment Trusts (REITs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA646000105 Gross saving -0.1 15.5 7.0 18.9 21.7 14.4 -61.5 -47.8 -48.2 1

 2 FA125013005 Fixed nonresidential investment 14.7 15.4 15.1 15.3 15.5 15.7 16.2 16.4 16.9 2

 3 FA125012063 Multifamily residential investment 2.8 7.6 1.9 11.1 6.6 10.9 2.5 5.0 -0.2 3

 4 FA644090005 Net acquisition of financial assets -133.5 55.6 35.7 52.1 14.4 120.2 61.7 -78.2 30.1 4

 5 FA643020005 Checkable deposits and currency 17.6 -2.8 -3.8 7.2 5.2 -19.8 6.3 -32.9 2.0 5

 6 FA644022005 Debt securities -154.5 -30.2 -29.0 -37.6 -73.1 18.8 11.9 -58.7 74.2 6

 7 FA643061773 Agency- and GSE-backed securities -129.4 -35.2 -25.0 -46.0 -83.2 13.3 -12.3 -43.3 40.5 7

 8 FA643063005 Corporate and foreign bonds -25.1 5.0 -4.0 8.4 10.1 5.5 24.3 -15.4 33.7 8

 9 FA643065005 Loans (mortgages) -8.2 64.1 28.1 62.3 84.3 81.6 40.7 35.8 -19.2 9

 10 FA643065105 One-to-four-family residential -23.2 26.0 11.3 24.0 51.9 16.9 -7.8 -0.3 -1.5 10

 11 FA643065405 Multifamily residential -4.4 5.4 3.3 5.9 4.8 7.5 0.7 0.2 -2.5 11

 12 FA643065505 Commercial 19.4 32.7 13.5 32.4 27.6 57.2 47.8 36.0 -15.2 12

 13 FA643090005 Miscellaneous assets 11.6 24.5 40.4 20.2 -2.0 39.5 2.8 -22.4 -26.9 13

 14 FA644194005 Net increase in liabilities and equity -83.9 93.5 42.0 102.9 -2.7 231.8 69.6 71.5 69.6 14

 15 FA644190005 Net increase in liabilities -105.8 54.3 10.7 59.8 -46.5 193.2 28.7 43.7 56.2 15

 16 FA642151073 Security repurchase agreements -154.9 -4.6 -13.3 -30.4 -20.1 45.4 -39.7 -37.9 -1.8 16

 17 FA644122005 Debt securities 42.6 56.7 27.5 102.5 22.9 73.9 35.0 38.9 -6.8 17

 18 FA643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FA643163005 Corporate bonds 42.6 56.7 27.5 102.5 22.9 73.9 35.0 38.9 -6.8 19

 20 FA644123005 Loans -6.9 0.2 -21.9 -15.8 -39.1 77.5 30.8 27.8 7.2 20

 21 FA643168005 Depository institution loans n.e.c. -0.4 9.4 1.5 -5.4 -14.5 55.9 12.5 11.3 -20.7 21

 22 FA643169373 Other loans and advances -8.2 -0.0 0.0 -0.0 -0.1 0.0 0.0 0.0 -0.2 22

 23 FA123165005 Mortgages 1.8 -9.1 -23.4 -10.3 -24.5 21.6 18.3 16.5 28.1 23

 24 FA643193005 Miscellaneous liabilities 13.4 2.0 18.5 3.5 -10.3 -3.6 2.6 14.9 57.6 24

 25 FA643164103 Net equity issues (corporate equity) 21.9 39.2 31.3 43.1 43.8 38.6 40.9 27.8 13.4 25

 26 FA647005005 Discrepancy 31.9 30.4 -3.6 43.2 -17.5 99.4 -72.4 80.5 -25.4 26

 Memo:

 27 FA643065045 Securitized assets included above -10.3 16.4 -13.1 44.0 8.5 26.3 23.9 11.8 -14.1 27

 28 FA643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FA643065163 One-to-four-family residential mortgages -15.7 5.7 -8.3 8.6 6.5 16.1 13.8 6.2 2.0 29

 30 FA643065443 Multifamily residential mortgages -4.6 2.6 0.2 5.3 2.1 2.7 1.8 0.9 0.6 30

 31 FA643065543 Commercial mortgages 10.0 8.1 -5.1 30.1 -0.1 7.4 8.4 4.8 -16.7 31

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.129.e and F.129.m.
Transactions

Z.1, December 9, 2022 45

F.129.e Equity Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA124090005 Net acquisition of financial assets 32.7 38.5 27.1 60.3 32.5 34.1 65.6 -34.5 4.5 1

 2 FA123020003 Checkable deposits and currency 11.7 -1.5 -0.0 5.7 9.8 -21.3 7.3 -28.7 -3.8 2

 3 FA123063003 Debt securities (corporate and foreign bonds) 1.2 7.7 7.1 8.7 12.4 2.6 20.6 -10.4 -0.8 3

 4 FA123065005 Loans (mortgages) 6.3 5.3 11.7 -2.3 -1.0 12.6 27.9 5.9 -1.5 4

 5 FA123065103 One-to-four-family residential 0.0 0.2 0.0 0.0 0.0 0.9 0.1 -0.0 0.0 5

 6 FA123065403 Multifamily residential 0.9 0.6 2.2 -0.1 -0.3 0.5 -1.2 -1.6 -2.4 6

 7 FA123065503 Commercial 5.5 4.4 9.5 -2.3 -0.7 11.2 29.0 7.5 0.9 7

 8 FA123093005 Miscellaneous assets 13.4 27.0 8.3 48.3 11.3 40.2 9.8 -1.3 10.5 8

 9 FA124190005 Net increase in liabilities 52.1 43.9 5.9 71.2 -20.9 119.4 24.2 72.7 18.9 9

 10 FA123163003 Debt securities (corporate bonds) 43.0 32.9 30.7 51.6 10.0 39.4 12.6 23.5 5.1 10

 11 FA124123005 Loans 0.7 -0.3 -20.5 -15.1 -39.5 74.0 32.3 25.1 5.3 11

 12 FA123168003 Depository institution loans n.e.c. -1.1 8.9 2.9 -4.7 -15.0 52.4 14.0 8.6 -22.8 12

 13 FA123165005 Mortgages 1.8 -9.1 -23.4 -10.3 -24.5 21.6 18.3 16.5 28.1 13

 14 FA123165403 Multifamily residential 1.0 -1.6 0.5 -1.4 0.5 -6.1 -1.4 -0.1 -6.7 14

 15 FA123165503 Commercial 0.8 -7.5 -23.9 -8.9 -24.9 27.7 19.7 16.6 34.8 15

 16 FA123193005 Miscellaneous liabilities 8.4 11.3 -4.3 34.7 8.6 6.1 -20.7 24.2 8.5 16

F.129.m Mortgage Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA644090075 Net acquisition of financial assets -166.2 17.1 8.6 -8.2 -18.1 86.1 -3.8 -43.7 25.6 1

 2 FA643020073 Checkable deposits and currency 5.8 -1.3 -3.7 1.5 -4.6 1.6 -1.0 -4.2 5.8 2

 3 FA644022075 Debt securities -155.7 -37.9 -36.1 -46.2 -85.5 16.2 -8.7 -48.3 75.0 3

 4 FA643061773 Agency- and GSE-backed securities -129.4 -35.2 -25.0 -46.0 -83.2 13.3 -12.3 -43.3 40.5 4

 5 FA643063073 Corporate and foreign bonds -26.3 -2.7 -11.1 -0.3 -2.3 2.9 3.6 -5.0 34.5 5

 6 FA643065075 Loans (mortgages) -14.5 58.8 16.4 64.6 85.4 68.9 12.8 30.0 -17.7 6

 7 FA643065173 One-to-four-family residential -23.2 25.8 11.3 24.0 51.9 16.0 -7.9 -0.3 -1.5 7

 8 FA643065473 Multifamily residential -5.2 4.8 1.0 6.0 5.2 6.9 1.9 1.8 -0.1 8

 9 FA643065573 Commercial 13.9 28.3 4.0 34.6 28.4 46.0 18.8 28.5 -16.1 9

 10 FA643090075 Miscellaneous assets -1.8 -2.5 32.1 -28.1 -13.4 -0.6 -7.0 -21.1 -37.4 10

 11 FA644190075 Net increase in liabilities -157.9 10.4 4.8 -11.4 -25.6 73.8 4.5 -29.0 37.3 11

 12 FA642151073 Security repurchase agreements -154.9 -4.6 -13.3 -30.4 -20.1 45.4 -39.7 -37.9 -1.8 12

 13 FA644122075 Debt securities -0.5 23.8 -3.2 50.9 13.0 34.6 22.4 15.5 -11.9 13

 14 FA643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA643163075 Corporate bonds -0.5 23.8 -3.2 50.9 13.0 34.6 22.4 15.5 -11.9 15

 16 FA644123075 Loans -7.5 0.5 -1.4 -0.7 0.4 3.5 -1.4 2.7 2.0 16

 17 FA643168073 Depository institution loans n.e.c. 0.7 0.5 -1.4 -0.7 0.5 3.5 -1.4 2.7 2.2 17

 18 FA643169373 Other loans and advances -8.2 -0.0 0.0 -0.0 -0.1 0.0 0.0 0.0 -0.2 18

 19 FA643193075 Miscellaneous liabilities 5.0 -9.3 22.8 -31.2 -18.9 -9.7 23.3 -9.2 49.1 19

 Memo:

 20 FA643065045 Securitized assets included above -10.3 16.4 -13.1 44.0 8.5 26.3 23.9 11.8 -14.1 20

 21 FA643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA643065163 One-to-four-family residential mortgages -15.7 5.7 -8.3 8.6 6.5 16.1 13.8 6.2 2.0 22

 23 FA643065443 Multifamily residential mortgages -4.6 2.6 0.2 5.3 2.1 2.7 1.8 0.9 0.6 23

 24 FA643065543 Commercial mortgages 10.0 8.1 -5.1 30.1 -0.1 7.4 8.4 4.8 -16.7 24
Transactions

46 Z.1, December 9, 2022

F.130 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA666000105 Gross saving less net capital transfers paid (1) 32.4 41.7 37.5 42.1 48.9 38.3 42.3 40.4 41.7 1

 2 FA665013005 Fixed nonresidential investment 46.4 49.6 48.1 49.4 50.2 51.0 52.8 53.9 55.7 2

 3 FA664090005 Net acquisition of financial assets 256.8 164.4 228.3 209.7 410.5 -191.0 755.6 -645.9 -138.1 3

 4 FA663020003 Checkable deposits and currency 13.2 2.2 -6.3 -17.0 18.2 14.1 23.9 13.6 12.6 4

 5 FA662051003 Security repurchase agreements -78.0 -66.7 -336.3 -418.4 311.3 176.6 276.1 84.3 -60.0 5

 6 FA664022005 Debt securities -74.0 -174.4 -679.0 93.2 28.2 -139.8 -127.3 153.2 385.1 6

 7 FA663069103 Open market paper -0.3 8.1 4.0 9.9 9.3 9.3 23.7 -26.4 31.1 7

 8 FA663061105 Treasury securities -8.5 -104.3 -375.7 54.2 -6.2 -89.6 22.1 27.6 241.7 8

 9 FA663061705 Agency- and GSE-backed securities -61.1 -22.1 -284.8 30.2 20.8 145.2 -120.8 150.3 48.3 9

 10 FA663062003 Municipal securities -9.9 6.0 8.6 7.1 6.0 2.4 -3.0 -1.8 20.4 10

 11 FA663063005 Corporate and foreign bonds 5.9 -62.0 -31.0 -8.1 -1.7 -207.1 -49.3 3.6 43.7 11

 12 FA663069005 Loans (other loans and advances) 233.1 175.8 460.8 167.5 -10.7 85.5 61.7 -137.0 -57.3 12

 13 FA663064103 Corporate equities 6.8 -33.7 154.6 -111.7 -104.0 -73.8 65.7 -74.7 93.6 13

 14 FA663092003 U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA663090005 Miscellaneous assets 155.7 261.2 634.6 496.2 167.7 -253.5 455.5 -685.5 -512.1 15

 16 FA663070605 Receivables due from other brokers and dealers 47.8 190.6 580.9 332.9 352.3 -503.6 617.4 -293.1 -348.5 16

 17 FA663094705 Balances due from holding company parent 20.3 39.5 29.3 21.2 96.6 10.9 133.4 117.9 143.7 17

 18 FA663093005 Other 87.6 31.1 24.4 142.2 -281.2 239.2 -295.3 -510.4 -307.3 18

 19 FA664194005 Net increase in liabilities and equity 272.7 189.0 205.8 253.0 442.6 -145.5 728.4 -722.4 -137.1 19

 20 FA664190005 Net increase in liabilities 228.5 136.2 180.8 180.0 387.0 -203.1 829.6 -637.1 -155.0 20

 21 FA662151003 Security repurchase agreements 24.2 -203.9 -802.4 -92.4 16.7 62.6 -187.2 40.3 319.2 21

 22 FA663163003 Debt securities (corporate bonds) 10.0 33.8 49.8 32.7 40.5 12.3 172.5 -46.4 -102.6 22

 23 FA664123005 Loans 131.0 145.1 108.4 132.6 253.5 85.9 518.6 -188.6 -247.7 23

 24 FA663168005 Depository institution loans n.e.c. 10.2 43.7 28.6 67.2 54.6 24.3 -4.6 37.0 -18.9 24

 25 FA153067005 Other loans and advances 120.8 101.4 79.7 65.4 198.8 61.6 523.2 -225.6 -228.8 25

 26 FA663170003 Trade payables 2.8 3.9 4.6 -15.1 6.6 19.5 -2.0 -10.7 1.3 26

 27 FA663178003 Taxes payable 3.0 0.5 3.2 2.7 4.4 -8.2 -1.5 2.2 -0.9 27

 28 FA663192305 Foreign direct investment: intercompany debt 0.6 1.8 0.3 0.3 2.6 4.0 -1.8 -4.0 -2.2 28

 29 FA663190005 Miscellaneous liabilities 56.9 155.0 817.0 119.3 62.8 -379.2 331.0 -429.9 -122.1 29

 30 FA663170605 Payables due to other brokers and dealers 49.2 134.2 644.1 43.8 180.1 -331.0 287.3 -271.4 -70.5 30

 31 FA663194605 Equity investment by holding company parents 6.5 -40.5 20.1 -34.5 -6.4 -141.1 9.4 314.3 158.2 31

 32 FA663194015 Other investment by parent companies 49.8 54.2 -52.5 155.7 45.1 68.5 173.9 -183.2 -115.7 32

 33 FA663193005 Other -48.6 7.0 205.3 -45.7 -156.0 24.4 -139.5 -289.6 -94.2 33

 34 FA663181125 Net equity issues 44.2 52.8 24.9 73.0 55.6 57.5 -101.2 -85.3 17.9 34

 35 FA663164103 Corporate equities 15.6 -4.8 4.0 1.8 -3.2 -21.8 -28.7 0.1 3.6 35

 36 FA662090003 Proprietors’ net investment 6.9 15.8 13.8 16.8 6.6 25.9 -44.7 -4.2 14.4 36

 37 FA663192103 Foreign direct investment: equity 21.8 41.8 7.1 54.4 52.2 53.4 -27.8 -81.2 -0.2 37

 38 FA667005005 Discrepancy 1.9 16.6 -33.1 35.9 30.8 32.8 -37.7 -89.9 -13.0 38

(1) Net capital transfers paid from table F.5, line 58.
Transactions

Z.1, December 9, 2022 47

F.131 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA736000105 Gross saving 126.1 164.1 166.4 149.8 174.8 165.2 219.2 115.3 116.8 1

 2 FA735013005 Fixed nonresidential investment 39.6 42.9 41.5 42.8 43.4 44.1 45.7 46.7 48.4 2

 3 FA734090005 Net acquisition of financial assets 273.8 134.9 -81.1 381.4 151.9 87.2 3.7 90.3 60.0 3

 4 FA733091003 Foreign deposits -7.3 -1.8 22.1 -22.9 -9.3 3.0 11.3 -56.4 16.9 4

 5 FA733030005 Time and savings deposits 135.9 -96.5 -322.0 18.7 -95.6 12.8 -133.0 161.2 76.5 5

 6 FA732051003 Security repurchase agreements 39.4 -15.3 -47.7 -54.4 57.2 -16.1 -33.3 23.9 21.7 6

 7 FA734022605 Debt securities -8.7 29.4 115.1 -13.7 -16.2 32.4 46.6 97.6 73.6 7

 8 FA733061103 Treasury securities 3.1 34.2 104.1 4.9 -8.4 36.1 51.2 100.2 64.8 8

 9 FA733061703 Agency- and GSE-backed securities -9.3 -8.4 -9.5 -7.2 -7.8 -9.0 -4.4 -2.7 -3.4 9

 10 FA733063003 Corporate and foreign bonds -2.5 3.6 20.5 -11.3 -0.1 5.3 -0.1 0.1 12.3 10

 11 FA733069005 Loans (other loans and advances) -11.1 23.6 58.3 33.7 -18.1 20.7 81.2 -20.1 20.2 11

 12 FA733040005 Life insurance reserves 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 12

 13 FA733092003 U.S. direct investment abroad 19.2 22.9 -12.7 28.2 26.1 50.0 61.1 7.8 31.8 13

 14 FA733090005 Miscellaneous assets 102.5 168.5 101.8 387.8 203.9 -19.6 -34.2 -127.6 -184.8 14

 15 FA733094635 Equity investment in affiliates 106.3 84.1 103.4 184.2 97.8 -49.2 -249.6 60.5 -60.0 15

 16 FA733094735 Other investment in affiliates -0.5 85.8 -8.5 195.7 113.8 42.4 199.1 -180.6 -133.9 16

 17 FA733093005 Other -3.3 -1.4 6.9 7.8 -7.7 -12.8 16.3 -7.5 9.1 17

 18 FA734194005 Net increase in liabilities and equity 129.1 -44.3 -203.9 149.4 -71.7 -51.1 -80.6 134.4 63.4 18

 19 FA734190005 Net increase in liabilities 171.7 99.6 -149.2 315.9 76.1 155.7 130.0 46.3 54.8 19

 20 FA732151003 Security repurchase agreements -0.0 0.0 0.4 -0.2 0.1 -0.3 0.2 -0.2 0.0 20

 21 FA734122005 Debt securities 129.9 65.0 -150.8 330.3 -28.4 109.1 -55.4 -57.8 -183.5 21

 22 FA733169103 Commercial paper -0.7 3.0 1.5 4.0 -0.2 6.6 -2.6 5.4 1.5 22

 23 FA733163005 Corporate bonds 130.6 62.1 -152.3 326.3 -28.3 102.5 -52.8 -63.2 -185.0 23

 24 FA733178013 Taxes payable -0.3 -0.3 0.0 -1.3 0.0 0.0 0.0 -1.3 0.0 24

 25 FA733192305 Foreign direct investment: intercompany debt (2) 9.1 5.1 1.6 19.5 -33.2 32.5 4.4 -35.0 -33.8 25

 26 FA733190005 Miscellaneous liabilities 33.0 29.8 -0.4 -32.3 137.6 14.4 180.9 140.6 272.2 26

 27 FA733194735 Balances due to affiliates 42.9 33.5 9.7 -8.6 101.3 31.7 203.8 101.5 224.5 27

 28 FA733193005 Other -9.9 -3.7 -10.1 -23.7 36.3 -17.3 -22.9 39.1 47.7 28

 29 FA733181105 Net equity issuance -42.6 -144.0 -54.7 -166.6 -147.8 -206.8 -210.6 88.1 8.5 29

 30 FA733164103 Corporate equity issues -18.2 -110.1 -57.3 -103.9 -155.5 -123.6 -234.2 -43.8 -23.0 30

 31 FA733192103 Foreign direct investment: equity (2) -24.4 -33.9 2.6 -62.7 7.7 -83.2 23.6 131.9 31.5 31

 32 FA737005005 Discrepancy -58.2 -58.1 2.2 -125.0 -92.2 -17.2 89.2 112.6 71.8 32

(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.

(2) Investment in U.S. Intermediate Holding Companies.
Transactions

48 Z.1, December 9, 2022

F.132 Other Financial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA504090005 Net acquisition of financial assets 400.7 194.5 419.7 147.9 104.9 105.6 143.5 -1.5 174.1 1

 2 FA503020005 Checkable deposits and currency 94.2 72.0 138.5 50.2 44.3 55.1 78.2 -76.9 -65.8 2

 3 FA503034005 Money market fund shares 134.4 179.2 239.4 157.1 41.6 278.6 -51.5 -28.9 -69.9 3

 4 FA502051005 Security repurchase agreements 2.2 -1.8 -8.9 3.4 -0.5 -1.2 0.9 2.9 -0.9 4

 5 FA504022005 Debt securities 152.7 -59.6 -201.9 57.2 63.4 -157.2 -37.1 327.0 258.9 5

 6 FA503069105 Open market paper 41.4 21.9 -12.8 91.1 133.2 -124.2 -55.0 359.7 217.8 6

 7 FA503061105 Treasury securities 99.5 -79.4 -180.8 -73.0 -49.1 -14.7 -10.3 -30.5 14.0 7

 8 FA503063005 Corporate and foreign bonds 5.4 0.1 -7.4 44.2 -19.2 -17.3 33.0 -2.2 27.0 8

 9 FA503062003 Municipal securities 6.3 -2.2 -0.9 -5.1 -1.6 -1.0 -4.9 0.0 0.0 9

 10 FA503069005 Loans (other loans and advances) 35.7 -3.7 83.1 -34.2 -62.5 -1.1 57.2 -118.3 2.8 10

 11 FA503064105 Corporate equities 8.8 -8.8 -1.1 -29.8 -4.2 0.0 0.0 0.0 0.0 11

 12 FA503090005 Miscellaneous assets -27.2 17.2 170.6 -56.1 22.8 -68.7 95.8 -107.4 49.0 12

 13 FA753194503 Investment in foreign banking offices -27.6 16.6 169.2 -69.8 36.0 -69.0 94.7 -106.6 44.1 13

 14 FA663194505 Investment in brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA503093023 Other 0.3 0.6 1.4 13.7 -13.2 0.4 1.1 -0.8 4.9 15

 16 FA504194005 Net increase in liabilities and equity 400.7 194.5 419.7 147.9 104.9 105.6 143.5 -1.5 174.1 16

 17 FA504190005 Net increase in liabilities 400.7 194.5 419.7 147.9 104.9 105.6 143.5 -1.5 174.1 17

 18 FA504122005 Debt securities -27.5 18.5 167.5 -95.2 71.2 -69.4 87.2 -85.6 3.7 18

 19 FA503169105 Open market paper -27.5 18.5 167.5 -95.2 71.2 -69.4 87.2 -85.6 3.7 19

 20 FA503163003 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA504123005 Loans 124.5 57.9 180.5 31.5 -30.3 50.1 47.2 -97.5 -50.1 21

 22 FA713068505 Depository institution loans n.e.c. 40.7 -19.6 -7.0 -8.2 -60.4 -3.0 -8.9 -4.5 -4.0 22

 23 FA503169005 Other loans and advances 83.9 77.6 187.5 39.7 30.1 53.1 56.2 -93.0 -46.0 23

 24 FA503192003 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FA503190005 Miscellaneous liabilities 303.7 118.1 71.7 211.7 64.0 124.9 9.1 181.6 220.5 25

 26 FA663070653 Payables due to brokers and dealers 60.5 75.8 150.0 54.2 81.1 17.8 45.5 20.9 -34.0 26

 27 FA663070675 Securities lending (net) -1.3 56.4 -63.2 289.1 172.2 -172.6 330.1 -21.7 -278.0 27

 28 FA503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 FA503194205 Equity in Federal Reserve facilities (2) 112.5 -91.2 -248.9 -40.0 -53.7 -22.4 -0.0 -13.3 0.0 29

 30 FA503193005 Other 192.6 152.9 383.8 -37.4 -54.5 319.9 -321.0 216.5 498.5 30

 31 FA503181105 Net equity issuance 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

(1) Includes funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, funds associated with the Public-Private Investment Program (PPIP), Federal Reserve

 funding, credit, and liquidity facility special purpose vehicles (SPV) created in response to the 2008 Financial Crisis and COVID-19 pandemic, and U.S. central clearing parties.

(2) U.S. Treasury Exchange Stabilization Fund Economic Recovery Programs investment in Federal Reserve SPVs.
Transactions

Z.1, December 9, 2022 49

F.133 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA266905005 Foreign income from U.S. 3882.5 4664.9 4383.9 4584.1 4751.5 4939.9 5242.6 5471.0 5484.6 1

 2 FA266903001 U.S. imports 2776.1 3401.4 3177.7 3337.5 3442.5 3647.7 3927.9 4074.4 3957.1 2

 3 FA266904101 U.S. income payments to rest of world 774.3 913.9 860.1 917.0 939.0 939.5 958.4 1023.3 1121.7 3

 4 FA266400101 Curr. taxes and trans. payments to rest of world 332.1 349.6 346.0 329.5 370.1 352.7 356.4 373.2 405.8 4

 5 FA266900005 Foreign outlays to U.S. 3290.1 3803.5 3605.1 3739.9 3836.5 4032.3 4133.1 4450.5 4533.9 5

 6 FA266903011 U.S. exports 2148.6 2539.6 2369.1 2503.1 2553.3 2733.0 2811.2 3038.8 3067.6 6

 7 FA266904001 U.S. income receipts from rest of world 971.3 1087.0 1057.5 1062.8 1106.8 1120.9 1147.1 1231.3 1291.2 7

 8 FA266400201 Curr. taxes and trans. payments from rest of world 170.2 176.8 178.6 174.1 176.4 178.4 174.9 180.4 175.2 8

 9 FA265440005 - Net capital transfers paid (1) -6.2 -3.5 -13.9 -3.8 11.6 -7.8 -7.7 -16.0 20.4 9

 10 FA266000105 Gross saving less net capital transfers paid (2) 598.6 864.9 792.6 848.0 903.4 915.4 1117.2 1036.5 930.2 10

 11 FA265090005 Gross investment 518.1 525.2 577.3 343.7 850.0 329.9 355.0 430.6 1690.7 11

 12 FA265420005 Nonproduced nonfinancial assets 0.2 -0.1 -0.2 -0.2 -0.1 -0.0 -0.3 -0.1 0.0 12

 13 FA265000005 Net lending (+) or net borrowing (-) 518.0 525.4 577.5 343.8 850.2 329.9 355.3 430.8 1690.7 13

 14 FA264090005 Net acquisition of financial assets 1490.1 1853.5 1996.1 1477.8 2891.8 1048.4 1666.8 2077.6 2678.9 14

 15 FA263011205 Monetary gold (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA313111303 SDR allocations 0.0 112.8 0.0 0.0 451.3 0.0 0.0 0.0 0.0 16

 17 FA264016005 Net interbank assets 29.4 66.9 -457.0 -24.3 592.3 156.5 299.2 16.4 355.2 17

 18 FA263020005 U.S. checkable deposits and currency 156.1 66.0 100.1 59.0 20.7 84.3 113.2 -63.7 13.7 18

 19 FA263030005 U.S. time deposits 95.4 36.2 95.2 15.2 -1.1 35.5 197.6 -112.8 128.3 19

 20 FA263034003 Money market fund shares 18.9 20.8 30.0 30.0 0.5 22.6 -13.9 -7.1 6.3 20

 21 FA262051005 Security repurchase agreements 18.0 281.4 311.6 369.1 288.9 156.2 -158.9 128.0 101.3 21

 22 FA264022005 Debt securities 244.8 700.8 1086.2 479.7 278.6 958.6 1260.8 609.6 799.1 22

 23 FA263069103 Open market paper -46.2 1.9 61.6 -44.3 23.1 -32.7 143.4 -29.5 38.9 23

 24 FA263061105 Treasury securities 67.0 639.6 763.3 562.8 318.7 913.6 707.8 133.3 483.6 24

 25 FA263061705 Agency- and GSE-backed securities 5.7 -17.0 -59.6 16.5 -94.0 69.0 -49.6 401.2 135.1 25

 26 FA263062003 Municipal securities 4.8 1.8 7.3 -1.3 0.7 0.2 11.0 2.5 -28.2 26

 27 FA263063005 U.S. corporate bonds (4) 213.4 74.5 313.5 -54.1 30.0 8.5 448.2 102.2 169.7 27

 28 FA263069500 Loans to U.S. corporate business 73.3 122.1 101.8 84.3 149.4 152.9 70.8 117.1 14.7 28

 29 FA263064105 U.S. corporate equities 669.2 -46.1 307.0 -274.5 398.6 -615.5 -817.1 679.6 754.4 29

 30 FA263064203 Mutual fund shares -0.7 5.8 49.1 381.5 119.4 -526.8 309.5 389.3 44.2 30

 31 FA263070005 Trade receivables 83.5 80.8 81.1 73.3 70.7 97.9 31.0 43.7 28.9 31

 32 FA543141905 Life insurance reserves -9.1 -1.4 -1.4 -1.4 -1.4 -1.4 0.0 0.0 0.0 32

 33 FA543151905 Pension entitlements -13.6 -1.6 -1.6 -1.6 -1.6 -1.6 0.0 0.0 0.0 33

 34 FA263092001 Foreign direct investment in U.S. (5) 109.1 405.3 313.5 302.9 499.8 505.0 298.3 287.4 357.8 34

 35 FA263090005 Miscellaneous assets 16.0 3.8 -19.3 -15.4 25.8 24.3 76.2 -10.1 75.2 35

 36 FA264194005 Net increase in liabilities and equity 972.2 1328.1 1418.5 1134.0 2041.6 718.5 1311.5 1646.8 988.2 36

 37 FA264190005 Net increase in liabilities 285.0 747.3 728.9 302.8 1309.6 647.7 378.9 463.4 183.8 37

 38 FA263111005 U.S. official reserve assets 9.0 114.0 -8.4 1.9 450.4 12.1 3.7 4.7 -2.1 38

 39 FA263191005 U.S. private deposits 102.0 48.4 123.3 -27.3 -126.9 224.3 155.4 -38.5 65.4 39

 40 FA262151003 Security repurchase agreements 55.5 -106.2 -518.6 -170.0 42.0 221.7 -125.3 -15.3 -134.8 40

 41 FA264122005 Debt securities 38.8 511.8 960.3 265.2 771.8 49.9 421.8 203.6 158.8 41

 42 FA263169105 Commercial paper -19.0 67.4 294.4 226.8 132.0 -383.5 -343.6 -159.8 87.1 42

 43 FA263163005 Bonds 57.8 444.4 665.9 38.5 639.8 433.4 765.3 363.4 71.7 43

 44 FA264123005 Loans 64.5 149.1 71.8 111.1 150.7 262.9 30.0 181.2 185.1 44

 45 FA263168005 Depository institution loans n.e.c. 66.3 152.4 69.9 109.8 186.9 242.9 14.1 167.1 150.1 45

 46 FA263169005 Other loans and advances -1.8 -3.2 1.9 1.3 -36.2 20.1 15.9 14.1 35.0 46

 47 FA263170005 Trade payables -0.4 3.4 17.3 -10.8 -0.6 7.7 -23.1 6.2 2.4 47

 48 FA263140005 Life insurance reserves 15.5 20.7 20.7 20.7 20.7 20.7 1.1 4.5 4.1 48

 49 FA263150005 Pension entitlements 47.0 42.4 42.4 42.4 42.4 42.4 7.7 8.9 6.1 49

 50 FA263192305 U.S. direct investment abroad: intercompany debt (4,5) -59.2 -47.4 35.7 46.2 -76.2 -195.1 -173.2 107.7 -122.0 50

 51 FA263190005 Miscellaneous liabilities 12.3 11.1 -15.5 23.3 35.3 1.2 80.7 0.3 20.9 51

 52 FA313092803 U.S. equity in IBRD, etc. 1.8 1.2 4.7 0.0 0.1 0.0 0.0 0.0 -0.1 52

 53 FA263191103 Nonofficial foreign currencies 14.2 -14.5 -61.5 -7.8 -1.0 12.0 -11.9 -0.1 -0.2 53

 54 FA263194735 Other investment by U.S. holding companies -6.2 6.0 22.8 12.6 17.7 -29.3 85.6 -20.1 -5.4 54

 55 FA263195105 Accident and health insurance reserves 5.8 2.2 2.2 2.2 2.2 2.2 1.0 0.9 1.3 55

 56 FA263176005 Policy payables -3.3 16.2 16.2 16.2 16.2 16.2 6.0 19.6 25.2 56

 57 FA263181125 Net equity issues 687.2 580.9 689.6 831.2 732.0 70.8 932.7 1183.4 804.4 57

 58 FA263164100 Foreign corporate equities (6) 396.0 154.8 348.5 319.6 451.1 -500.0 427.7 875.3 481.0 58

 59 FA263192101 U.S. direct investment abroad: equity (5) 291.2 426.1 341.1 511.6 280.8 570.7 504.9 308.1 323.5 59

 60 FA267005005 Discrepancy (FOF basis) 80.5 339.6 215.3 504.3 53.3 585.5 762.2 605.9 -760.5 60

 Memo:

 61 FA266903005 Net U.S. exports, NIPA basis -627.5 -861.7 -808.6 -834.4 -889.1 -914.7 -1116.7 -1035.6 -889.5 61

 62 FA266904005 + Net U.S. income receipts (7) 197.0 173.1 197.3 145.7 167.8 181.5 188.7 207.9 169.5 62

 63 FA266400101 - Curr. taxes and trans. payments to rest of world 332.1 349.6 346.0 329.5 370.1 352.7 356.4 373.2 405.8 63

 64 FA266400201 + Curr. taxes and trans. payments from rest of world 170.2 176.8 178.6 174.1 176.4 178.4 174.9 180.4 175.2 64

 65 FA266000005 = Balance on current account, NIPAs -592.5 -861.4 -778.7 -844.1 -915.0 -907.6 -1109.5 -1020.5 -950.6 65

(1) Table F.5, line 67.

(2) Line 1 minus line 5 minus line 9. Also equal to line 65 with the sign reversed minus line 9.

(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 reported at market value. 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.
Transactions

50 Z.1, December 9, 2022

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893111005 Net change in liabilities 9.0 226.8 -8.4 1.9 901.7 12.1 3.7 4.7 -2.1 1

 2 FA313111303 Federal government: SDR allocations 0.0 112.8 0.0 0.0 451.3 0.0 0.0 0.0 0.0 2

 3 FA263111005 Rest of the world 9.0 114.0 -8.4 1.9 450.4 12.1 3.7 4.7 -2.1 3

 4 FA313011303 SDR holdings 0.1 113.7 0.0 0.0 451.4 3.3 6.1 6.1 4.0 4

 5 FA263111403 Reserve position in IMF 8.8 0.5 -8.6 1.7 0.0 8.7 -2.4 -1.5 -6.6 5

 6 FA263111503 Other reserves 0.1 -0.2 0.2 0.1 -1.0 0.0 0.0 0.1 0.5 6

 7 FA893011005 Net change in assets 9.0 226.8 -8.4 1.9 901.7 12.1 3.7 4.7 -2.1 7

 8 FA313011005 Federal government 8.9 114.1 -8.5 1.8 450.9 12.0 3.7 4.6 -2.4 8

 9 FA313011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA313011303 SDR holdings 0.1 113.7 0.0 0.0 451.4 3.3 6.1 6.1 4.0 10

 11 FA313011405 Reserve position in IMF 8.8 0.5 -8.6 1.7 0.1 8.7 -2.4 -1.5 -6.6 11

 12 FA313011505 Other reserves 0.0 -0.1 0.1 0.1 -0.5 0.0 0.0 0.1 0.2 12

 13 FA263011005 Rest of the world 0.0 112.8 0.0 0.0 451.3 0.0 0.0 0.0 0.0 13

 14 FA263011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA313111303 SDR allocations 0.0 112.8 0.0 0.0 451.3 0.0 0.0 0.0 0.0 15

 16 FA713011005 Monetary authority 0.0 -0.1 0.1 0.1 -0.5 0.0 0.0 0.1 0.2 16

 17 FA713011203 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA713011405 Reserve position in IMF -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.1 0.0 18

 19 FA713011505 Other reserves 0.0 -0.1 0.1 0.1 -0.5 0.0 0.0 0.1 0.2 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 FA713014003 Liab: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA713014003 Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 FA313112003 Liab: Federal government -0.0 -0.1 0.0 0.0 -0.5 0.0 0.0 0.0 -1.7 3

 4 FA713012003 Asset: Monetary authority 0.4 0.4 0.3 0.2 0.4 0.6 0.6 0.7 0.7 4

 5 FA903012005 Discrepancy (seigniorage) -0.4 -0.5 -0.3 -0.2 -0.8 -0.6 -0.6 -0.7 -2.4 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA263191005 Total rest of the world liability 102.0 48.4 123.3 -27.3 -126.9 224.3 155.4 -38.5 65.4 1

 Held by:

 2 FA153091003 Household sector 7.8 -0.2 5.4 -5.1 -5.1 3.8 7.9 -2.4 5.3 2

 3 FA103091003 Nonfinancial corporate business 4.0 23.8 104.0 130.4 -132.7 -6.5 102.4 -113.2 -13.4 3

 4 FA633091003 Money market funds -6.7 -0.5 5.8 -7.6 2.4 -2.4 4.1 0.1 -0.4 4

 5 FA733091003 Holding companies -7.3 -1.8 22.1 -22.9 -9.3 3.0 11.3 -56.4 16.9 5

 6 FA903091005 Discrepancy--unallocated assets 104.1 27.1 -14.0 -122.0 17.8 226.4 29.7 133.4 57.0 6
Transactions

Z.1, December 9, 2022 51

F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA794110005 Net change in liabilities 1546.3 693.3 2623.6 -1074.2 1973.8 -750.1 449.0 -3019.8 88.6 1

 2 FA714110005 Monetary authority 1461.9 640.6 2736.0 -668.3 1388.5 -893.7 -162.2 -2572.1 -351.1 2

 3 FA764110005 U.S.-chartered depository institutions 4.2 -52.0 -221.1 -183.2 -15.8 211.9 96.0 -457.7 144.3 3

 4 FA754110005 Foreign banking offices in U.S. 76.1 100.3 -5.8 -156.0 632.4 -69.6 448.8 98.5 331.3 4

 5 FA744110005 Banks in U.S.-affiliated areas 0.3 0.0 -0.1 -0.1 -0.0 0.3 -0.2 0.1 -5.6 5

 6 FA474110005 Credit unions 3.8 4.4 114.5 -66.6 -31.3 1.0 66.6 -88.4 -30.3 6

 7 FA894010005 Net change in assets 1535.8 676.2 2264.2 -690.9 1881.6 -750.3 118.7 -2553.0 14.3 7

 8 FA714010005 Monetary authority 44.6 -31.3 -14.8 1.8 -99.2 -13.1 -18.3 2.7 10.2 8

 9 FA763020005 U.S.-chartered depository institutions 1298.2 379.8 1676.1 -536.1 733.7 -354.3 -888.5 -2093.0 -446.2 9

 10 FA753020005 Foreign banking offices in U.S. 48.3 227.8 834.3 -47.6 669.9 -545.2 815.0 -220.8 213.2 10

 11 FA743013003 Banks in U.S.-affiliated areas 10.3 7.2 -0.7 34.7 -3.2 -2.1 -34.4 -5.9 -27.7 11

 12 FA473013005 Credit unions 105.0 25.8 226.4 -119.3 -11.8 7.9 -54.3 -252.4 -90.3 12

 13 FA264016005 Rest of the world 29.4 66.9 -457.0 -24.3 592.3 156.5 299.2 16.4 355.2 13

 14 FA904010005 Discrepancy 10.4 17.1 359.4 -383.3 92.3 0.1 330.3 -466.8 74.3 14

 Memo:

 Vault cash:

 15 FA703025005 Liab.: Monetary authority 15.8 -8.7 25.0 -24.0 -1.9 -33.8 25.3 -4.2 -28.6 15

 16 FA763025000 Asset: U.S.-chartered depository institutions 15.8 -8.8 25.0 -24.0 -1.9 -34.1 25.6 -4.1 -28.6 16

 17 FA753025003 Foreign banking offices in U.S. 0.0 0.1 0.0 0.0 0.0 0.3 -0.3 -0.0 0.0 17

 Depository institution reserves:

 18 FA713113003 Liab.: Monetary authority 1446.1 649.3 2711.1 -644.3 1390.5 -859.9 -187.5 -2568.0 -322.4 18

 19 FA763013005 Asset: U.S.-chartered depository institutions 1282.4 388.6 1651.1 -512.1 735.6 -320.2 -914.1 -2088.8 -417.6 19

 20 FA753013003 Foreign banking offices in U.S. 48.3 227.8 834.3 -47.6 669.9 -545.5 815.3 -220.8 213.2 20

 21 FA743013003 Banks in U.S.-affiliated areas 10.3 7.2 -0.7 34.7 -3.2 -2.1 -34.4 -5.9 -27.7 21

 22 FA473013005 Credit unions 105.0 25.8 226.4 -119.3 -11.8 7.9 -54.3 -252.4 -90.3 22

 Other transactions with the monetary authority

 23 FA714010075 Liab: U.S.-chartered depository institutions 44.2 -31.0 -14.1 2.0 -99.0 -12.8 -18.2 2.8 10.2 23

 24 FA713068743 Credit unions 0.4 -0.4 -0.7 -0.2 -0.2 -0.3 -0.1 -0.1 -0.0 24

 25 FA714010005 Asset: Monetary authority 44.6 -31.3 -14.8 1.8 -99.2 -13.1 -18.3 2.7 10.2 25

 26 FA713022003 Federal Reserve float 0.1 -0.0 -1.9 -0.0 1.5 0.5 -0.4 -0.4 1.6 26

 27 FA713068705 Loans to depository institutions 44.5 -31.3 -12.8 1.8 -100.7 -13.5 -17.9 3.1 8.6 27

 Transactions with banks in foreign countries (net):

 28 FA764116205 Liab.: U.S.-chartered depository institutions (net) -52.7 -12.1 -434.0 148.4 2.0 235.1 -90.2 -50.6 2.9 28

 29 FA763192605 Due to foreign affiliates 44.6 32.3 -145.2 17.1 58.9 198.5 -55.2 22.2 -50.5 29

 30 FA763092605 - Due from foreign affiliates 97.3 44.4 288.8 -131.3 57.0 -36.7 35.0 72.8 -53.4 30

 31 FA754116205 Foreign banking offices in U.S. (net) 56.6 100.5 -3.9 -149.8 594.4 -38.6 417.7 84.8 329.6 31

 32 FA753192605 Due to foreign affiliates 37.3 73.2 68.3 -200.9 377.1 48.3 285.2 117.8 270.4 32

 33 FA753092605 - Due from foreign affiliates -19.3 -27.3 72.2 -51.1 -217.3 86.9 -132.4 33.0 -59.3 33

 34 FA264116205 Less: Deposits at foreign banks 6.8 5.0 29.7 -4.9 -17.1 12.3 13.8 1.6 -11.9 34

 35 FA764016205 U.S.-chartered depository institutions 7.8 4.1 17.8 3.0 -4.2 -0.3 13.4 -1.7 -9.8 35

 36 FA754016205 Foreign banking offices in U.S. -1.0 0.9 12.0 -7.9 -12.9 12.6 0.4 3.3 -2.1 36

 37 FA264135125 Loans to foreign banks -25.1 7.5 -7.4 26.2 6.4 5.0 22.5 31.0 -9.8 37

 38 FA764035125 U.S.-chartered depository institutions -11.3 5.7 1.1 13.9 5.2 2.5 28.1 15.9 -14.4 38

 39 FA754035125 Foreign banking offices in U.S. -13.8 1.9 -8.5 12.3 1.2 2.5 -5.7 15.0 4.6 39

 40 FA264035125 Plus: Loans from foreign banks 7.1 -9.0 3.2 -1.5 -14.9 -22.7 8.0 14.7 0.9 40

 41 FA274135123 U.S.-chartered depository institutions 5.6 -8.4 1.4 1.3 -13.4 -22.8 10.4 5.8 1.5 41

 42 FA284135125 Foreign banking offices in U.S. 1.6 -0.6 1.7 -2.8 -1.5 0.1 -2.4 8.9 -0.6 42

 43 FA264016005 Asset: Rest of the world (1) 29.4 66.9 -457.0 -24.3 592.3 156.5 299.2 16.4 355.2 43

 Transactions between U.S. depository institutions (net):

 44 FA764112005 U.S.-chartered depository institutions (net) 3.6 9.1 244.4 -318.0 95.6 14.7 235.5 -401.6 105.5 44

 45 FA764112205 Due to (3): 3.9 11.3 261.6 -327.4 110.5 0.3 259.0 -371.5 117.5 45

 46 FA754012205 Foreign banking offices in U.S. -2.8 -1.1 17.4 -10.5 -12.8 1.7 -4.8 7.0 7.3 46

 47 FA743020005 Banks in U.S.-affiliated areas -0.3 -0.0 0.1 0.1 0.0 -0.3 0.2 -0.1 5.6 47

 48 FA474012205 Credit unions -3.4 -4.8 -115.2 66.3 31.0 -1.3 -66.7 88.4 30.3 48

 49 FA754112205 - Due from: Foreign banking offices in U.S. 0.3 2.1 17.3 -9.4 15.0 -14.3 23.5 30.1 12.0 49

 50 FA904010005 Unallocated (2) 10.4 17.1 359.4 -383.3 92.3 0.1 330.3 -466.8 74.3 50

(1) Sum of lines 28 and 31 less line 34 and line 37 plus line 40.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 13 above. However, the unallocated amount (line 50), which is due to inconsistencies

 in source data, appears on line 14 as the discrepancy between liabilities and assets.

(3) Sum of lines 46, 47, 48, and 50.
Transactions

52 Z.1, December 9, 2022

F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA793120005 Net change in liabilities 4272.3 230.7 -267.5 742.0 -1253.3 1701.6 1986.1 1694.6 -437.9 1

 2 FA713120005 Monetary authority 1738.4 -1128.2 -1615.8 -1202.9 -2637.7 943.7 1214.4 702.0 -905.7 2

 3 FA713123005 Federal government cash and deposits 1324.6 -1322.4 -2353.3 -913.9 -2771.4 748.9 1017.3 742.0 -865.8 3

 4 FA713124005 Due to government-sponsored enterprises 38.5 -17.1 332.2 -421.8 18.2 3.0 -16.6 -15.4 -22.4 4

 5 FA713129005 Due to other financial business 93.0 67.6 126.2 61.3 33.3 49.7 77.9 -82.7 -59.7 5

 6 FA713122605 Deposits due to foreign 16.7 -12.5 45.5 -111.8 1.8 14.5 -7.4 -0.1 -0.1 6

 7 FA713125005 Currency outside banks 265.7 156.2 233.6 183.2 80.4 127.7 143.1 58.2 42.2 7

 8 FA763127005 U.S.-chartered depository institutions 2381.0 1248.8 947.7 1929.8 1314.0 803.7 616.4 929.9 446.0 8

 9 FA763123005 Federal government deposits 1.1 -0.1 -1.4 8.1 -3.5 -3.7 0.3 0.6 1.0 9

 10 FA763128000 State and local government deposits 90.8 115.8 79.2 204.3 100.8 78.8 25.3 53.4 -16.2 10

 11 FA763122605 Deposits due to foreign -17.1 20.5 -13.1 70.5 21.7 2.8 33.8 -72.6 64.4 11

 12 FA763129205 Private domestic deposits 2306.2 1112.7 883.1 1646.9 1195.0 725.8 557.0 948.5 396.8 12

 13 FA753127005 Foreign banking offices in U.S. 57.0 25.7 201.8 -43.1 35.4 -91.3 101.7 77.4 -65.8 13

 14 FA753122603 Deposits due to foreign 35.2 9.7 27.3 49.7 -32.0 -6.1 17.1 -2.6 -64.5 14

 15 FA753129205 Private domestic deposits 21.8 16.0 174.5 -92.8 67.4 -85.1 84.6 80.0 -1.4 15

 16 FA743127003 Banks in U.S.-affiliated areas 11.0 7.3 23.1 27.1 -13.7 -7.4 -30.2 5.8 10.3 16

 17 FA473127003 Credit unions 85.0 77.1 175.8 31.1 48.7 52.9 83.8 -20.4 77.3 17

 18 FA793120005 Net change in assets 4272.3 230.7 -267.5 742.0 -1253.3 1701.6 1986.1 1694.6 -437.9 18

 19 FA153020005 Household sector 1980.7 1097.6 1352.7 1762.3 763.9 511.4 656.8 1667.2 1436.6 19

 20 FA143020005 Nonfinancial business 494.4 219.6 195.1 -131.8 431.9 383.2 204.0 -596.7 -966.5 20

 21 FA103020000 Corporate 432.5 141.3 154.3 -191.3 354.6 247.7 76.2 -649.7 -947.5 21

 22 FA113020005 Noncorporate 61.8 78.3 40.8 59.5 77.2 135.5 127.8 53.0 -18.9 22

 23 FA313020005 Federal government 1326.3 -1323.9 -2274.6 -1011.5 -2654.2 644.7 1168.1 579.8 -722.9 23

 24 FA213020005 State and local governments 90.8 115.8 79.2 204.3 100.8 78.8 25.3 53.4 -16.2 24

 25 FA793020005 Domestic financial sectors 224.6 55.0 359.0 -245.6 204.7 -98.2 -36.7 -107.8 -38.6 25

 26 FA513020005 Property-casualty insurance companies 2.6 22.5 36.1 -12.9 56.7 10.1 -61.2 -11.0 30.9 26

 27 FA543020005 Life insurance companies 33.0 -8.3 -37.6 59.7 -23.4 -32.1 -30.3 -17.8 20.2 27

 28 FA573020005 Private pension funds -4.1 1.5 1.2 1.6 1.5 1.7 1.4 1.3 1.7 28

 29 FA343020033 Federal government retirement funds 0.2 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 29

 30 FA223020043 State and local govt. retirement funds 6.0 -0.8 -12.7 4.1 29.6 -24.1 1.7 10.1 4.2 30

 31 FA403020005 Government-sponsored enterprises 57.8 -29.9 245.7 -341.1 71.1 -95.2 -40.5 7.3 -38.2 31

 32 FA613020003 Finance companies 4.2 -2.0 -2.7 2.1 1.0 -8.6 -16.7 -2.0 -6.7 32

 33 FA643020005 REITs 17.6 -2.8 -3.8 7.2 5.2 -19.8 6.3 -32.9 2.0 33

 34 FA663020003 Brokers and dealers 13.2 2.2 -6.3 -17.0 18.2 14.1 23.9 13.6 12.6 34

 35 FA503020005 Other financial business 94.2 72.0 138.5 50.2 44.3 55.1 78.2 -76.9 -65.8 35

 36 FA263020005 Rest of the world 156.1 66.0 100.1 59.0 20.7 84.3 113.2 -63.7 13.7 36

 37 FA263027003 Checkable deposits 34.7 17.7 59.7 8.4 -8.6 11.2 43.5 -75.4 -0.2 37

 38 FA263025003 Currency 121.3 48.3 40.4 50.6 29.3 73.1 69.7 11.6 13.9 38

 39 FA903020005 Mail float -0.5 0.6 -78.9 105.2 -121.1 97.4 -144.5 162.4 -144.1 39
Transactions

Z.1, December 9, 2022 53

F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA703130005 Net change in liabilities 795.5 758.2 1952.5 -422.1 480.1 1022.4 342.9 -1404.1 -1204.0 1

 2 FA763130005 U.S.-chartered depository institutions 656.1 631.5 1617.7 -460.2 446.8 921.5 110.2 -1582.9 -1268.7 2

 3 FA753130005 Foreign banking offices in U.S. -50.8 4.2 140.2 -29.1 -75.5 -18.8 181.2 108.3 45.4 3

 4 FA743130003 Banks in U.S.-affiliated areas 3.1 -2.2 18.0 3.3 -19.9 -10.2 -8.6 -4.9 11.0 4

 5 FA473130005 Credit unions 187.1 124.8 176.6 64.0 128.6 129.9 60.1 75.4 8.3 5

 6 FA703130005 Net change in assets 795.5 758.2 1952.5 -422.1 480.1 1022.4 342.9 -1404.1 -1204.0 6

 7 FA153030005 Household sector 543.7 788.7 1979.3 -275.8 391.7 1059.6 87.5 -1366.9 -1557.5 7

 8 FA143030005 Nonfinancial business 161.6 94.1 26.8 84.6 189.5 75.4 148.5 -19.1 56.7 8

 9 FA103030003 Corporate 76.7 -1.3 -12.5 25.1 104.2 -122.0 -25.8 -17.4 59.8 9

 10 FA113030003 Noncorporate 85.0 95.4 39.3 59.5 85.3 197.4 174.3 -1.7 -3.1 10

 11 FA313030003 Federal government -1.3 1.4 35.5 -34.4 2.0 2.5 0.2 -3.3 0.1 11

 12 FA213030000 State and local governments -9.5 -31.2 0.0 -38.1 -35.7 -51.1 5.1 -69.1 -11.2 12

 13 FA793030005 Domestic financial sectors 5.6 -130.9 -184.3 -173.5 -66.3 -99.5 -96.1 166.9 179.7 13

 14 FA573030005 Private pension funds 2.3 -5.9 -4.9 -6.0 -6.0 -6.8 -5.4 -5.1 -6.8 14

 15 FA223030043 State and local govt. retirement funds -2.0 0.5 0.0 0.5 -1.3 2.5 -10.0 7.1 -0.4 15

 16 FA633030000 Money market funds -136.0 -20.5 157.0 -189.4 33.4 -83.2 98.8 -1.5 117.5 16

 17 FA403030005 Government-sponsored enterprises -7.0 -2.2 -6.4 -3.7 0.3 0.9 3.5 11.3 13.0 17

 18 FA613030003 Finance companies 12.5 -6.1 -8.1 6.4 3.0 -25.9 -50.0 -6.1 -20.1 18

 19 FA733030005 Holding companies 135.9 -96.5 -322.0 18.7 -95.6 12.8 -133.0 161.2 76.5 19

 20 FA263030005 Rest of the world 95.4 36.2 95.2 15.2 -1.1 35.5 197.6 -112.8 128.3 20

F.206 Money Market Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA634090005 Net issues 763.5 439.5 1155.7 304.7 -186.7 484.4 -157.6 -79.7 8.2 1

 2 FA634090005 Net purchases 763.5 439.5 1155.7 304.7 -186.7 484.4 -157.6 -79.7 8.2 2

 3 FA153034005 Household sector 428.4 101.4 555.8 28.4 -398.0 219.5 -119.0 107.3 76.0 3

 4 FA103034000 Nonfinancial corporate business 122.2 101.0 191.7 78.8 3.8 129.6 -63.3 -12.7 -8.3 4

 5 FA113034003 Nonfinancial noncorporate business 9.1 2.4 3.0 1.5 2.3 2.6 2.5 9.8 6.3 5

 6 FA213034003 State and local governments 13.5 15.3 16.3 12.2 11.3 21.4 -7.7 -2.3 1.4 6

 7 FA513034005 Property-casualty insurance companies 9.9 -3.2 7.7 -23.0 14.0 -11.5 -33.5 -6.4 10.0 7

 8 FA543034005 Life insurance companies 7.9 -2.3 -12.0 23.5 -8.4 -12.3 -9.7 45.6 26.0 8

 9 FA573034005 Private pension funds 25.5 24.7 16.8 30.4 24.1 27.7 20.9 24.8 28.3 9

 10 FA223034005 State and local govt. retirement funds 0.3 -4.7 8.1 -7.6 30.9 -50.2 25.3 -4.8 0.4 10

 11 FA653034003 Mutual Funds -11.2 0.2 108.3 -34.3 63.5 -136.7 107.9 -181.8 -64.0 11

 12 FA563034003 Exchange-traded funds 4.6 4.8 -9.4 7.6 27.8 -6.9 -15.6 -23.2 -4.2 12

 13 FA503034005 Other financial business 134.4 179.2 239.4 157.1 41.6 278.6 -51.5 -28.9 -69.9 13

 14 FA263034003 Rest of the world 18.9 20.8 30.0 30.0 0.5 22.6 -13.9 -7.1 6.3 14
Transactions

54 Z.1, December 9, 2022

F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA892150005 Net change in liabilities -195.9 1626.3 -609.2 3096.0 2761.0 1257.5 -480.3 1728.6 638.0 1

 2 FA712151003 Monetary authority -120.6 1967.0 544.5 3635.0 2577.0 1111.5 -248.2 1921.0 476.8 2

 3 FA762150005 U.S.-chartered depository institutions 3.9 -9.9 66.3 -177.4 30.4 41.2 -19.8 50.1 33.7 3

 4 FA762152005 Federal funds (2) -17.1 -6.8 -6.6 0.2 -9.8 -10.8 10.3 35.9 45.5 4

 5 FA762151005 Security repurchase agreements 21.0 -3.1 72.9 -177.5 40.2 52.0 -30.1 14.2 -11.7 5

 6 FA752150005 Foreign banking offices in U.S. -5.1 -17.5 120.6 -72.0 106.8 -225.5 146.3 -220.3 -64.7 6

 7 FA752152005 Federal funds (2) -6.9 -0.8 48.1 23.5 -15.4 -59.5 59.0 -18.9 9.0 7

 8 FA752151005 Security repurchase agreements 1.8 -16.7 72.5 -95.5 122.2 -166.0 87.4 -201.4 -73.7 8

 9 FA472150053 Credit unions -0.0 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 9

 10 FA512151003 Property-casualty insurance companies 0.1 -0.1 -0.1 -0.0 -0.2 -0.1 0.0 0.1 0.1 10

 11 FA542151073 Life insurance companies 1.1 1.5 -7.0 3.7 8.3 1.0 -6.5 -9.3 9.5 11

 12 FA402150005 Government-sponsored enterprises 0.0 0.0 0.4 -0.4 0.0 0.0 0.0 0.0 0.0 12

 13 FA642151073 REITs -154.9 -4.6 -13.3 -30.4 -20.1 45.4 -39.7 -37.9 -1.8 13

 14 FA662151003 Brokers and dealers 24.2 -203.9 -802.4 -92.4 16.7 62.6 -187.2 40.3 319.2 14

 15 FA732151003 Holding companies -0.0 0.0 0.4 -0.2 0.1 -0.3 0.2 -0.2 0.0 15

 16 FA262151003 Rest of the world 55.5 -106.2 -518.6 -170.0 42.0 221.7 -125.3 -15.3 -134.8 16

 17 FA892050005 Net change in assets -235.0 1396.2 -481.5 2086.3 2710.0 1270.1 -122.8 937.3 994.9 17

 18 FA102051003 Nonfinancial corporate business 23.6 -11.9 -58.8 55.7 -36.7 -7.6 10.6 -19.9 -9.3 18

 19 FA212051003 State and local governments 15.7 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 19

 20 FA712051000 Monetary authority -255.6 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 20

 21 FA762050005 U.S.-chartered depository institutions 179.8 -220.8 -975.7 23.1 -50.5 119.9 -75.6 -70.1 107.9 21

 22 FA762052005 Federal funds (2) 1.2 0.2 8.6 -0.9 -6.5 -0.4 -12.1 -18.8 7.7 22

 23 FA762051005 Security repurchase agreements 178.5 -221.0 -984.4 24.1 -44.1 120.3 -63.5 -51.3 100.2 23

 24 FA752050005 Foreign banking offices in U.S. -55.4 -64.2 -63.8 -126.2 92.9 -159.7 22.3 40.2 46.5 24

 25 FA752052005 Federal funds (2) 0.0 -0.1 2.6 -3.6 0.6 -0.3 1.1 -0.5 -0.3 25

 26 FA752051005 Security repurchase agreements -55.4 -64.0 -66.4 -122.6 92.2 -159.4 21.2 40.7 46.9 26

 27 FA472050053 Credit unions -0.3 -0.3 -0.2 -0.9 0.2 -0.2 -0.1 -0.0 -0.3 27

 28 FA472052053 Federal funds -0.1 0.0 -0.0 0.0 0.2 -0.2 -0.0 -0.0 -0.1 28

 29 FA472051053 Security repurchase agreements -0.1 -0.3 -0.2 -0.9 -0.0 0.0 -0.1 0.0 -0.2 29

 30 FA512051005 Property-casualty insurance companies 0.2 -0.0 0.4 1.0 -1.1 -0.4 -3.0 1.1 0.8 30

 31 FA542051075 Life insurance companies 1.9 1.6 -2.2 2.5 4.7 1.3 -3.2 -4.5 4.6 31

 32 FA572051005 Private pension funds 2.6 7.4 6.0 7.7 7.5 8.4 6.6 6.2 8.4 32

 33 FA222051043 State and local govt. retirement funds 1.1 22.6 42.2 23.1 -33.7 58.9 -41.2 7.9 -2.0 33

 34 FA632051000 Money market funds -173.9 1427.0 828.4 1689.6 2256.4 933.5 -154.9 450.8 664.0 34

 35 FA652051003 Mutual funds (net) 26.4 30.0 76.3 60.9 -30.0 12.5 -13.1 40.0 -6.8 35

 36 FA402050005 Government-sponsored enterprises 17.3 -2.8 -262.8 439.9 -166.4 -22.0 34.0 236.4 108.8 36

 37 FA402052033 Of which: FHLB federal funds (3) -19.8 15.9 91.0 -25.5 16.0 -18.1 39.7 57.5 74.2 37

 38 FA662051003 Brokers and dealers -78.0 -66.7 -336.3 -418.4 311.3 176.6 276.1 84.3 -60.0 38

 39 FA732051003 Holding companies 39.4 -15.3 -47.7 -54.4 57.2 -16.1 -33.3 23.9 21.7 39

 40 FA502051005 Other financial business 2.2 -1.8 -8.9 3.4 -0.5 -1.2 0.9 2.9 -0.9 40

 41 FA262051005 Rest of the world 18.0 281.4 311.6 369.1 288.9 156.2 -158.9 128.0 101.3 41

 42 FA902050005 Discrepancy 39.1 230.1 -127.7 1009.7 51.0 -12.6 -357.5 791.3 -356.9 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations:

 43 FA712151103 Liability: Monetary authority (4) -54.4 1894.9 498.6 3430.5 2451.8 1198.8 -130.4 1831.1 384.7 43

 44 FA632051103 Asset: Money market funds (5) -37.2 1730.0 462.6 2919.1 2335.4 1202.9 -326.4 1619.3 630.8 44

 45 FA792051115 Other financial institutions (6) -17.2 164.9 36.0 511.4 116.4 -4.1 195.9 211.8 -246.1 45

(1) Detailed data on federal funds and security repurchase agreements are available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 1997:Q1 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) Included in line 2.

(5) Included in line 34.

(6) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
Transactions

Z.1, December 9, 2022 55

F.208 Debt Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FA894122005 Net issues 6307.2 3277.1 3121.7 4190.8 1138.1 4657.9 4764.1 2993.2 2363.1 1

 2 FA893169175 Open market paper -58.4 27.3 116.9 9.8 174.8 -192.4 30.6 252.1 297.9 2

 3 FA313161105 Treasury securities 4582.2 1683.8 1077.1 2677.5 -702.0 3682.7 2587.8 1441.8 1102.6 3

 4 FA893161705 Agency- and GSE-backed securities 657.2 612.5 698.1 600.9 565.0 585.8 1039.2 949.8 1049.4 4

 5 FA383162005 Municipal securities 85.4 77.9 121.1 118.0 113.5 -40.9 -64.1 53.4 -31.9 5

 6 FA893163005 Corporate and foreign bonds 1040.7 875.6 1108.5 784.7 986.8 622.6 1170.6 296.1 -55.0 6

 By sector

 7 FA894122005 Net issues 6307.2 3277.1 3121.7 4190.8 1138.1 4657.9 4764.1 2993.2 2363.1 7

 8 FA384122005 Domestic nonfinancial sectors 5316.6 1966.2 1471.1 3068.0 -225.3 3551.0 2659.1 1573.2 1233.3 8

 9 FA163162003 Nonprofit organizations (2) -9.9 -1.6 2.3 -0.6 -4.2 -3.9 8.3 -9.5 -2.5 9

 10 FA104122005 Nonfinancial corporate business 655.1 215.4 285.0 287.1 385.0 -95.4 157.6 87.8 153.8 10

 11 FA314122005 Federal government 4581.2 1683.4 1075.6 2677.5 -703.3 3683.9 2586.3 1443.1 1101.2 11

 12 FA213162005 State and local governments 90.2 69.0 108.2 104.0 97.2 -33.6 -93.2 51.8 -19.2 12

 13 FA794122005 Domestic financial sectors 951.7 799.1 690.3 857.6 591.6 1057.0 1683.2 1216.5 970.9 13

 14 FA764122005 U.S.-chartered depository institutions 109.0 -94.9 -72.5 -199.3 -130.6 22.8 134.7 169.1 11.9 14

 15 FA753169175 Foreign banking offices in U.S. -5.8 -4.9 3.1 -29.4 -25.0 31.8 97.7 77.5 2.3 15

 16 FA403161705 Government-sponsored enterprises 635.9 539.4 665.9 483.5 514.8 493.5 888.3 747.5 841.6 16

 17 FA413065005 Agency- and GSE-backed mortgage pools 22.3 73.5 33.7 117.5 51.5 91.2 152.5 201.0 209.3 17

 18 FA674122005 ABS issuers 55.7 158.0 43.7 103.2 211.7 273.5 173.1 107.8 68.8 18

 19 FA614122005 Finance companies -20.2 -46.1 -77.5 11.9 -137.0 18.3 -2.2 64.4 126.2 19

 20 FA644122005 REITs 42.6 56.7 27.5 102.5 22.9 73.9 35.0 38.9 -6.8 20

 21 FA663163003 Brokers and dealers 10.0 33.8 49.8 32.7 40.5 12.3 172.5 -46.4 -102.6 21

 22 FA734122005 Holding companies 129.9 65.0 -150.8 330.3 -28.4 109.1 -55.4 -57.8 -183.5 22

 23 FA504122005 Other financial business -27.5 18.5 167.5 -95.2 71.2 -69.4 87.2 -85.6 3.7 23

 24 FA264122005 Rest of the world 38.8 511.8 960.3 265.2 771.8 49.9 421.8 203.6 158.8 24

 25 FA894022005 Net purchases 6307.2 3277.1 3121.7 4190.8 1138.1 4657.9 4764.1 2993.2 2363.1 25

 26 FA384022005 Domestic nonfinancial sectors -366.7 -508.1 -3125.0 1076.0 565.6 -549.0 697.5 2524.0 1766.9 26

 27 FA154022005 Household sector -625.4 -867.5 -3083.3 166.9 199.0 -752.5 465.3 1661.3 1588.1 27

 28 FA104022005 Nonfinancial corporate business 35.9 24.4 -82.5 104.0 27.3 48.7 -41.8 107.4 -136.2 28

 29 FA114022005 Nonfinancial noncorporate business 3.0 2.7 7.6 -3.3 -0.5 6.8 3.9 21.2 21.9 29

 30 FA314022005 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA214022005 State and local governments 219.8 332.4 33.2 808.5 339.8 148.0 270.1 734.1 293.2 31

 32 FA794022005 Domestic financial sectors 6429.1 3084.5 5160.5 2635.1 293.9 4248.3 2805.7 -140.3 -202.9 32

 33 FA714022005 Monetary authority 3217.0 1537.1 1610.4 1486.6 1707.1 1344.3 782.3 -150.0 -523.0 33

 34 FA764022005 U.S.-chartered depository institutions 1010.2 1239.0 1903.7 980.3 940.2 1132.1 892.6 -194.8 -648.2 34

 35 FA754022005 Foreign banking offices in U.S. -12.6 -12.5 -12.3 -42.4 10.1 -5.5 59.1 122.2 97.9 35

 36 FA744022003 Banks in U.S.-affiliated areas 6.1 7.9 16.9 -7.9 20.5 2.0 13.1 22.1 22.9 36

 37 FA474022005 Credit unions 88.8 101.5 277.5 -6.7 55.1 79.9 120.2 97.2 -28.8 37

 38 FA514022005 Property-casualty insurance companies 53.3 71.0 91.0 122.1 36.8 34.2 21.5 72.9 99.8 38

 39 FA544022005 Life insurance companies 184.9 171.2 110.0 42.1 295.0 237.6 285.0 117.1 283.0 39

 40 FA574022005 Private pension funds 82.0 48.3 29.0 65.9 44.1 54.4 57.8 70.9 84.8 40

 41 FA344022005 Federal government retirement funds 147.8 159.1 149.0 240.8 -858.2 1104.9 308.4 280.3 77.1 41

 42 FA224022045 State and local govt. retirement funds 74.6 186.9 250.4 275.7 47.2 174.3 76.7 -54.1 60.0 42

 43 FA634022005 Money market funds 1088.7 -956.4 294.6 -1111.3 -2822.5 -186.4 -248.6 -565.0 -670.2 43

 44 FA654022005 Mutual funds 323.4 595.3 1163.5 317.4 630.2 269.9 327.5 -638.0 -122.8 44

 45 FA554022005 Closed-end funds 0.8 9.2 10.4 8.0 10.4 7.9 0.3 0.6 -2.1 45

 46 FA564022005 Exchange-traded funds 195.0 202.0 179.8 247.8 176.0 204.6 111.0 213.7 217.5 46

 47 FA404022005 Government-sponsored enterprises 46.7 -71.2 -113.0 -102.6 -33.8 -35.3 93.5 -60.0 37.0 47

 48 FA674022005 ABS issuers -2.7 1.5 -7.0 -4.6 5.2 12.5 10.5 4.8 2.5 48

 49 FA613063003 Finance companies 9.7 29.3 1.3 24.7 28.5 62.8 0.8 0.8 17.9 49

 50 FA644022005 REITs -154.5 -30.2 -29.0 -37.6 -73.1 18.8 11.9 -58.7 74.2 50

 51 FA664022005 Brokers and dealers -74.0 -174.4 -679.0 93.2 28.2 -139.8 -127.3 153.2 385.1 51

 52 FA734022605 Holding companies -8.7 29.4 115.1 -13.7 -16.2 32.4 46.6 97.6 73.6 52

 53 FA504022005 Other financial business 152.7 -59.6 -201.9 57.2 63.4 -157.2 -37.1 327.0 258.9 53

 54 FA264022005 Rest of the world 244.8 700.8 1086.2 479.7 278.6 958.6 1260.8 609.6 799.1 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.

(2) Liability of the households and nonprofit organizations sector (table F.101).
Transactions

56 Z.1, December 9, 2022

F.209 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893169175 Net issues -58.4 27.3 116.9 9.8 174.8 -192.4 30.6 252.1 297.9 1

 2 FA893169105 Commercial paper -58.4 27.3 116.9 9.8 174.8 -192.4 30.6 252.1 297.9 2

 3 FA103169100 Nonfinancial corporate business -62.3 6.0 -212.4 124.2 51.8 60.5 -26.8 268.7 151.6 3

 4 FA263169105 Foreign issues in U.S. -19.0 67.4 294.4 226.8 132.0 -383.5 -343.6 -159.8 87.1 4

 5 FA263169110 Nonfinancial -9.8 9.2 -7.4 -21.0 82.8 -17.5 -61.9 -90.1 91.1 5

 6 FA263169123 Financial -9.2 58.2 301.8 247.8 49.2 -366.0 -281.7 -69.7 -4.0 6

 7 FA793169100 Domestic financial sectors 23.0 -46.2 35.0 -341.2 -9.1 130.6 400.9 143.2 59.2 7

 8 FA763169103 U.S.-chartered depository institutions 54.2 -45.6 -32.0 -98.2 -62.8 10.8 67.2 87.2 6.1 8

 9 FA753169103 Foreign banking offices in U.S. -5.8 -4.9 3.1 -29.4 -25.0 31.8 97.7 77.5 2.3 9

 10 FA673169105 ABS issuers 24.6 -16.7 -107.0 -115.8 3.2 152.9 166.7 56.2 18.9 10

 11 FA613169100 Finance companies -21.7 -0.5 2.0 -6.6 4.5 -2.1 -15.3 2.5 26.6 11

 12 FA643169173 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA733169103 Holding companies -0.7 3.0 1.5 4.0 -0.2 6.6 -2.6 5.4 1.5 13

 14 FA503169105 Other financial business -27.5 18.5 167.5 -95.2 71.2 -69.4 87.2 -85.6 3.7 14

 15 FA703169605 Bankers’ acceptances (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA763169603 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA753169603 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA893169175 Net purchases -58.4 27.3 116.9 9.8 174.8 -192.4 30.6 252.1 297.9 18

 19 FA103069100 Nonfinancial corporate business 33.3 2.1 -43.7 130.8 -82.3 3.8 -75.4 59.6 -147.0 19

 20 FA213069103 State and local governments -0.4 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 20

 21 FA713069603 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA763069175 U.S.-chartered depository institutions (1) 2.0 -2.0 -7.5 -0.4 0.0 0.0 0.0 0.0 0.0 22

 23 FA753069603 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA473069153 Credit unions -0.4 -0.1 -0.7 -0.3 -0.3 1.1 0.8 -0.4 -1.2 24

 25 FA513069105 Property-casualty insurance companies -0.8 -4.4 -3.2 -1.4 -7.8 -5.3 -5.9 1.9 1.9 25

 26 FA543069105 Life insurance companies 5.2 7.0 -7.8 5.8 16.2 13.7 -11.1 -15.0 20.5 26

 27 FA573069105 Private pension funds 5.5 1.8 1.3 2.4 1.7 2.0 1.4 1.3 1.9 27

 28 FA223069143 State and local govt. retirement funds -3.8 6.0 26.9 11.2 2.4 -16.5 34.8 -4.2 4.0 28

 29 FA633069175 Money market funds -91.5 -6.0 88.1 -177.3 67.5 -2.3 -54.9 -69.7 111.5 29

 30 FA653069100 Mutual funds -2.6 -10.5 8.1 -15.3 10.4 -45.1 17.7 -34.8 6.6 30

 31 FA403069105 Government-sponsored enterprises 0.2 -2.6 -1.3 -6.3 -2.7 -0.1 7.0 5.7 7.8 31

 32 FA663069103 Brokers and dealers -0.3 8.1 4.0 9.9 9.3 9.3 23.7 -26.4 31.1 32

 33 FA503069105 Other financial business 41.4 21.9 -12.8 91.1 133.2 -124.2 -55.0 359.7 217.8 33

 34 FA263069103 Rest of the world -46.2 1.9 61.6 -44.3 23.1 -32.7 143.4 -29.5 38.9 34

(1) Excludes banks’ holdings of own acceptances.
Transactions

Z.1, December 9, 2022 57

F.210 Treasury Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA313161105 Net issues 4582.2 1683.8 1077.1 2677.5 -702.0 3682.7 2587.8 1441.8 1102.6 1

 2 FA313161205 Marketable Treasury securities 4317.3 1611.4 1137.6 2466.1 183.4 2658.3 2231.8 1154.2 992.7 2

 3 FA313161110 Treasury bills 2546.6 -1195.1 -1408.8 -919.0 -2407.4 -45.2 423.7 -966.3 305.3 3

 4 FA313161275 Other Treasury notes, bonds, and TIPS 1772.2 2807.7 2546.4 3390.0 2590.8 2703.6 1808.1 2125.3 687.3 4

 5 FA313161283 Held in the Civil Service Retirement Fund (2) -1.5 -1.2 0.0 -4.8 0.0 0.0 0.0 -4.8 0.0 5

 6 FA313161305 Nonmarketable Treasury securities 264.9 72.5 -60.5 211.3 -885.4 1024.4 356.0 287.6 110.0 6

 7 FA313161400 U.S. savings securities -4.3 -0.9 -5.0 -4.5 -4.2 10.0 14.6 42.6 23.3 7

 8 FA213061120 State and local government series (SLGS) 38.0 -6.1 27.7 28.4 21.2 -101.7 38.7 -12.0 4.9 8

 9 FA343061123 Thrift Savings Plan G Fund 42.0 -7.0 -1.8 11.0 -715.8 678.5 110.0 21.4 -12.6 9

 10 FA343061145 Federal govt. defined benefit pension plans 103.6 168.2 151.0 235.8 -135.5 421.3 199.7 271.6 92.7 10

 11 FA503061303 Held by Federal Reserve credit facility LLCs 95.7 -77.6 -212.4 -34.0 -47.2 -16.8 0.0 -11.1 0.3 11

 12 FA313161375 Other nonmarketable securities -10.0 -4.1 -19.9 -25.4 -3.9 32.9 -7.0 -24.8 1.4 12

 13 FA893061105 Net purchases 4582.2 1683.8 1077.1 2677.5 -702.0 3682.7 2587.8 1441.8 1102.6 13

 14 FA153061105 Household sector -347.8 -679.5 -1932.7 -391.5 292.4 -686.3 692.2 529.1 1450.8 14

 15 FA313161400 U.S. savings securities (line 7) -4.3 -0.9 -5.0 -4.5 -4.2 10.0 14.6 42.6 23.3 15

 16 FA153061185 Other Treasury securities -343.5 -678.6 -1927.8 -387.0 296.6 -696.3 677.5 486.5 1427.5 16

 17 FA103061103 Nonfinancial corporate business 7.4 16.9 -27.0 -20.5 82.2 33.1 26.3 37.3 9.6 17

 18 FA113061003 Nonfinancial noncorporate business 2.7 2.2 6.6 -3.1 -1.3 6.6 3.3 20.1 20.9 18

 19 FA213061105 State and local governments 291.3 383.9 177.3 838.2 351.9 168.2 244.7 681.5 222.3 19

 20 FA213061120 SLGS (line 8) 38.0 -6.1 27.7 28.4 21.2 -101.7 38.7 -12.0 4.9 20

 21 FA213061103 Other Treasury securities 253.3 390.0 149.7 809.7 330.6 269.8 206.0 693.5 217.4 21

 22 FA713061103 Monetary authority 2554.3 961.6 1017.8 958.9 1001.7 867.8 400.2 -107.5 -467.6 22

 23 FA713061113 Treasury bills 157.5 0.0 0.2 0.1 -0.0 -0.2 -1.1 -2.9 -68.4 23

 24 FA713061125 Other Treasury securities 2396.8 961.5 1017.6 958.8 1001.7 868.0 401.3 -104.7 -399.2 24

 25 FA763061100 U.S.-chartered depository institutions 327.8 449.0 406.9 355.2 348.3 685.6 273.5 174.0 -271.6 25

 26 FA753061103 Foreign banking offices in U.S. -27.3 -7.6 -32.1 -14.0 9.2 6.4 31.0 41.6 6.0 26

 27 FA743061103 Banks in U.S.-affiliated areas -3.6 6.5 9.2 -0.0 11.7 5.2 4.7 17.2 19.7 27

 28 FA473061105 Credit unions 6.3 19.5 31.4 0.0 15.6 30.8 61.1 34.6 28.1 28

 29 FA513061105 Property-casualty insurance companies 0.9 31.6 48.0 78.5 -2.6 2.7 -72.6 42.8 59.3 29

 30 FA513061115 Treasury bills 14.5 2.5 11.5 28.4 -23.3 -6.8 -72.4 28.8 23.2 30

 31 FA513061125 Other Treasury securities -13.6 29.2 36.5 50.2 20.6 9.5 -0.1 13.9 36.0 31

 32 FA543061105 Life insurance companies 6.9 -2.6 -9.0 12.8 12.9 -26.9 -18.9 -13.2 19.6 32

 33 FA543061115 Treasury bills 6.3 -6.2 -12.7 -4.1 -1.9 -6.2 -3.1 -3.6 7.3 33

 34 FA543061125 Other Treasury securities 0.6 3.7 3.7 16.9 14.8 -20.8 -15.8 -9.6 12.3 34

 35 FA573061105 Private pension funds 2.9 31.8 22.9 40.6 29.6 34.2 24.9 28.7 33.4 35

 36 FA573061143 Defined benefit plans -13.5 9.8 8.0 10.3 9.9 11.1 8.8 8.3 11.2 36

 37 FA573061133 Defined contribution plans 16.4 22.0 14.9 30.3 19.7 23.1 16.2 20.4 22.2 37

 38 FA343061105 Federal government retirement funds (3) 145.5 160.2 148.5 241.5 -852.5 1103.5 308.9 285.1 79.0 38

 39 FA343061165 Defined benefit plans 101.5 167.0 151.5 231.1 -136.3 421.5 199.7 266.5 92.5 39

 40 FA343061155 Defined contribution plans 44.0 -6.7 -2.9 10.3 -716.3 682.0 109.2 18.6 -13.6 40

 41 FA223061143 State and local govt. retirement funds 1.0 103.0 69.5 187.1 52.5 103.0 -99.1 59.6 28.5 41

 42 FA633061105 Money market funds 1343.3 -651.3 387.8 -569.3 -2593.9 170.4 -305.5 -560.0 -1044.8 42

 43 FA633061110 Treasury bills 1399.4 -878.2 -2.8 -748.9 -2822.8 61.8 -267.2 -483.2 -760.6 43

 44 FA633061120 Other Treasury securities -56.1 226.9 390.5 179.6 228.9 108.6 -38.4 -76.8 -284.2 44

 45 FA653061105 Mutual funds 1.5 343.8 477.4 423.2 247.0 227.5 81.3 -146.3 -30.4 45

 46 FA653061113 Treasury bills 0.4 1.8 -11.0 -11.2 -16.7 46.1 -28.3 -10.6 -29.1 46

 47 FA653061125 Other Treasury securities 1.1 342.0 488.4 434.4 263.7 181.4 109.6 -135.7 -1.4 47

 48 FA553061103 Closed-end funds -0.4 0.3 0.6 0.3 0.1 0.0 -0.0 2.9 -0.2 48

 49 FA563061103 Exchange-traded funds 32.0 66.1 45.1 62.3 50.7 106.4 71.7 164.4 148.0 49

 50 FA403061105 Government-sponsored enterprises 78.9 -43.2 -74.8 -67.1 -17.7 -13.3 78.8 -85.3 -14.4 50

 51 FA673061103 ABS issuers -2.7 1.5 -7.0 -4.6 5.2 12.5 10.5 4.8 2.5 51

 52 FA663061105 Brokers and dealers -8.5 -104.3 -375.7 54.2 -6.2 -89.6 22.1 27.6 241.7 52

 53 FA733061103 Holding companies 3.1 34.2 104.1 4.9 -8.4 36.1 51.2 100.2 64.8 53

 54 FA503061105 Other financial business 99.5 -79.4 -180.8 -73.0 -49.1 -14.7 -10.3 -30.5 14.0 54

 55 FA263061105 Rest of the world 67.0 639.6 763.3 562.8 318.7 913.6 707.8 133.3 483.6 55

 56 FA263061110 Treasury bills 311.3 -55.4 -297.0 -188.6 13.8 250.2 23.9 -452.1 125.9 56

 57 FA263061120 Other Treasury securities -244.2 695.0 1060.3 751.4 304.8 663.4 683.9 585.4 357.7 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.

(3) Comprised primarily of nonmarketable Treasury securities.
Transactions

58 Z.1, December 9, 2022

F.211 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893161705 Net issues 657.2 612.5 698.1 600.9 565.0 585.8 1039.2 949.8 1049.4 1

 2 FA313161705 Budget agencies -1.0 -0.4 -1.5 -0.0 -1.3 1.1 -1.6 1.3 -1.5 2

 3 FA403161705 Government-sponsored enterprises 635.9 539.4 665.9 483.5 514.8 493.5 888.3 747.5 841.6 3

 4 FA413065005 Agency- and GSE-backed mortgage pools 22.3 73.5 33.7 117.5 51.5 91.2 152.5 201.0 209.3 4

 5 FA893061705 Net purchases 657.2 612.5 698.1 600.9 565.0 585.8 1039.2 949.8 1049.4 5

 6 FA153061705 Household sector -298.4 22.6 -252.6 351.8 -180.9 172.0 269.4 599.4 973.5 6

 7 FA103061703 Nonfinancial corporate business 3.6 5.0 -12.2 -6.5 26.9 11.7 7.2 10.2 1.1 7

 8 FA313061703 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA213061703 State and local governments -71.4 -39.8 -84.6 -10.4 -34.0 -30.2 41.8 48.7 67.3 9

 10 FA713061705 Monetary authority 662.7 575.5 592.6 527.6 705.4 476.5 382.0 -42.5 -55.5 10

 11 FA763061705 U.S.-chartered depository institutions 603.1 535.0 940.8 439.8 445.9 313.6 206.4 -362.2 -403.4 11

 12 FA753061703 Foreign banking offices in U.S. 7.9 -5.7 11.5 -16.5 3.3 -20.9 -6.9 17.7 5.2 12

 13 FA743061703 Banks in U.S.-affiliated areas 7.1 1.9 7.7 1.7 0.3 -2.0 4.7 1.6 1.1 13

 14 FA473061705 Credit unions 75.9 74.6 230.5 -3.8 32.9 38.8 41.4 55.4 -62.5 14

 15 FA513061705 Property-casualty insurance companies 3.1 -10.2 -10.0 -16.2 -1.6 -13.0 9.7 4.6 1.4 15

 16 FA543061705 Life insurance companies -20.2 -42.3 -59.4 -40.5 -30.5 -38.6 -16.9 -21.9 6.8 16

 17 FA573061705 Private pension funds 13.5 -8.0 -13.1 -2.3 -9.6 -7.2 11.9 10.6 16.2 17

 18 FA343061705 Federal government retirement funds 1.3 0.3 -0.5 -0.4 -1.9 4.0 -0.6 -2.3 -0.8 18

 19 FA223061743 State and local govt. retirement funds 24.2 6.3 21.3 -6.5 41.8 -31.5 39.6 -6.6 10.6 19

 20 FA633061700 Money market funds -140.1 -278.3 -157.2 -345.1 -278.9 -331.7 95.5 58.9 248.4 20

 21 FA653061703 Mutual funds 8.4 -118.0 -103.0 -238.2 22.5 -153.3 133.7 53.8 -22.1 21

 22 FA403061705 Government-sponsored enterprises -29.3 -23.8 -34.8 -27.1 -12.3 -20.8 7.5 19.0 41.5 22

 23 FA673061703 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FA643061773 REITs -129.4 -35.2 -25.0 -46.0 -83.2 13.3 -12.3 -43.3 40.5 24

 25 FA663061705 Brokers and dealers -61.1 -22.1 -284.8 30.2 20.8 145.2 -120.8 150.3 48.3 25

 26 FA733061703 Holding companies -9.3 -8.4 -9.5 -7.2 -7.8 -9.0 -4.4 -2.7 -3.4 26

 27 FA263061705 Rest of the world 5.7 -17.0 -59.6 16.5 -94.0 69.0 -49.6 401.2 135.1 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 Ginnie Mae, 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 48.
Transactions

Z.1, December 9, 2022 59

F.212 Municipal Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA383162005 Net issues 85.4 77.9 121.1 118.0 113.5 -40.9 -64.1 53.4 -31.9 1

 2 FA213162005 State and local governments 90.2 69.0 108.2 104.0 97.2 -33.6 -93.2 51.8 -19.2 2

 3 FA213162400 Short-term (1) 1.7 -13.7 -12.3 -10.8 -30.6 -0.9 -21.6 -2.7 3.4 3

 4 FA213162200 Long-term 88.5 82.6 120.6 114.8 127.8 -32.6 -71.5 54.5 -22.6 4

 5 FA163162003 Nonprofit organizations (2) -9.9 -1.6 2.3 -0.6 -4.2 -3.9 8.3 -9.5 -2.5 5

 6 FA103162000 Nonfinancial corporate business 5.1 10.5 10.6 14.5 20.5 -3.4 20.7 11.1 -10.2 6

 (industrial revenue bonds)

 7 FA893062005 Net purchases 85.4 77.9 121.1 118.0 113.5 -40.9 -64.1 53.4 -31.9 7

 8 FA153062005 Household sector -30.0 -102.4 -94.3 -82.1 -89.6 -143.6 -126.1 146.2 28.1 8

 9 FA103062003 Nonfinancial corporate business -8.4 0.3 0.4 0.3 0.4 0.1 0.1 0.3 0.1 9

 10 FA113062003 Nonfinancial noncorporate business 0.3 0.5 1.0 -0.2 0.8 0.3 0.6 1.0 1.0 10

 11 FA213062003 State and local governments 1.5 3.8 4.1 2.1 4.8 4.3 5.5 6.0 6.7 11

 12 FA763062000 U.S.-chartered depository institutions 69.0 52.1 72.4 56.7 49.2 30.3 53.5 53.7 -7.2 12

 13 FA753062003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA743062003 Banks in U.S.-affiliated areas -1.1 -0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 14

 15 FA473062005 Credit unions 4.4 2.3 3.6 2.0 2.7 0.9 2.0 0.7 2.9 15

 16 FA513062005 Property-casualty insurance companies 3.0 -1.1 -2.5 -2.5 -0.5 1.0 6.3 1.1 -9.2 16

 17 FA543062005 Life insurance companies -2.9 1.0 -1.5 -0.4 3.9 2.2 3.3 1.5 3.1 17

 18 FA343062033 Federal government retirement funds -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 -0.0 18

 19 FA223062043 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA633062000 Money market funds -14.0 -14.6 -23.3 -16.6 -6.0 -12.4 22.6 13.0 4.6 20

 21 FA653062003 Mutual funds 49.7 109.4 123.8 133.3 124.8 55.9 -54.5 -207.0 -53.6 21

 22 FA553062003 Closed-end funds -0.3 0.7 1.5 1.1 0.2 0.1 0.4 -0.1 -1.8 22

 23 FA563062003 Exchange-traded funds 13.7 20.6 21.2 23.9 18.4 18.7 19.0 37.3 1.5 23

 24 FA403062005 Government-sponsored enterprises -0.5 -0.4 -0.2 -0.3 -0.6 -0.3 -0.0 -1.1 -0.0 24

 25 FA663062003 Brokers and dealers -9.9 6.0 8.6 7.1 6.0 2.4 -3.0 -1.8 20.4 25

 26 FA503062003 Other financial business 6.3 -2.2 -0.9 -5.1 -1.6 -1.0 -4.9 0.0 0.0 26

 27 FA263062003 Rest of the world 4.8 1.8 7.3 -1.3 0.7 0.2 11.0 2.5 -28.2 27

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

(2) Liability of the households and nonprofit organizations sector (table F.101).
Transactions

60 Z.1, December 9, 2022

F.213 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893163005 Net issues 1040.7 875.6 1108.5 784.7 986.8 622.6 1170.6 296.1 -55.0 1

 2 FA103163003 Nonfinancial corporate business 712.4 198.9 486.9 148.4 312.7 -152.5 163.7 -192.0 12.4 2

 3 FA793163005 Domestic financial sectors 270.6 232.4 -44.3 597.9 34.4 341.7 241.6 124.8 -139.2 3

 4 FA763163005 U.S.-chartered depository institutions 54.8 -49.4 -40.5 -101.1 -67.8 11.9 67.5 81.9 5.8 4

 5 FA673163005 ABS issuers (net) (1) 31.1 174.7 150.7 219.0 208.5 120.6 6.4 51.6 49.9 5

 6 FA613163005 Finance companies 1.5 -45.5 -79.6 18.5 -141.5 20.4 13.1 61.9 99.6 6

 7 FA643163005 REITs 42.6 56.7 27.5 102.5 22.9 73.9 35.0 38.9 -6.8 7

 8 FA663163003 Brokers and dealers 10.0 33.8 49.8 32.7 40.5 12.3 172.5 -46.4 -102.6 8

 9 FA733163005 Holding companies 130.6 62.1 -152.3 326.3 -28.3 102.5 -52.8 -63.2 -185.0 9

 10 FA503163003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA263163005 Rest of the world (2) 57.8 444.4 665.9 38.5 639.8 433.4 765.3 363.4 71.7 11

 12 FA893063005 Net purchases (3) 1040.7 875.6 1108.5 784.7 986.8 622.6 1170.6 296.1 -55.0 12

 13 FA153063005 Household sector 50.8 -108.1 -803.6 288.7 177.1 -94.7 -370.1 386.6 -864.3 13

 14 FA313063763 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FA213063003 State and local governments -1.2 -19.5 -67.7 -25.4 13.2 1.8 -26.0 -6.1 -7.2 15

 16 FA763063005 U.S.-chartered depository institutions 8.3 204.9 491.1 129.0 96.7 102.5 359.3 -60.3 33.9 16

 17 FA763063605 MBS and other ABS 3.6 31.9 18.4 20.6 38.8 50.0 49.4 17.9 2.6 17

 18 FA763063095 Other 4.7 172.9 472.7 108.5 58.0 52.5 309.9 -78.2 31.4 18

 19 FA753063005 Foreign banking offices in U.S. 6.8 0.8 8.3 -11.8 -2.3 9.0 34.9 62.9 86.7 19

 20 FA743063005 Banks in U.S.-affiliated areas 3.8 -0.6 0.0 -9.6 8.5 -1.2 3.7 3.4 2.2 20

 21 FA473063005 Credit unions 2.6 5.2 12.8 -4.7 4.2 8.3 14.9 6.9 3.9 21

 22 FA473063605 MBS and other ABS 2.5 4.9 12.2 -4.8 3.9 8.1 14.6 6.8 3.7 22

 23 FA473063095 Other 0.1 0.3 0.6 0.1 0.3 0.2 0.4 0.1 0.1 23

 24 FA513063005 Property-casualty insurance companies 47.1 55.1 58.7 63.6 49.3 48.8 84.0 22.5 46.5 24

 25 FA513063605 MBS and other ABS 11.0 12.0 12.7 13.8 10.7 10.6 18.2 0.0 10.1 25

 26 FA513063095 Other 36.1 43.2 46.0 49.8 38.6 38.3 65.8 22.5 36.4 26

 27 FA543063005 Life insurance companies 196.0 208.0 187.8 64.3 292.4 287.3 328.6 165.7 233.1 27

 28 FA543063675 MBS and other ABS 32.2 30.6 28.7 14.1 42.4 37.2 39.2 0.0 24.4 28

 29 FA543063095 Other 163.8 177.4 159.1 50.2 250.0 250.1 289.3 165.7 208.7 29

 30 FA573063005 Private pension funds 60.1 22.7 17.9 25.2 22.4 25.3 19.5 30.3 33.3 30

 31 FA343063005 Federal government retirement funds 0.9 -1.4 1.0 -0.3 -3.8 -2.6 0.1 -2.5 -1.1 31

 32 FA223063045 State and local govt. retirement funds 53.2 71.6 132.7 83.9 -49.5 119.4 101.4 -102.9 16.8 32

 33 FA633063005 Money market funds -9.0 -6.3 -0.7 -3.0 -11.2 -10.5 -6.2 -7.2 10.1 33

 34 FA653063005 Mutual funds 266.3 270.5 657.3 14.5 225.5 184.8 149.4 -303.6 -23.2 34

 35 FA553063003 Closed-end funds 1.5 8.2 8.3 6.6 10.1 7.8 -0.1 -2.2 -0.1 35

 36 FA563063003 Exchange-traded funds 149.3 115.4 113.5 161.6 106.9 79.5 20.3 12.0 68.1 36

 37 FA403063005 Government-sponsored enterprises -2.6 -1.2 -2.0 -1.8 -0.5 -0.7 0.2 1.8 2.1 37

 38 FA403063605 MBS and other ABS -2.2 -0.9 -1.7 -1.3 -0.2 -0.3 0.6 2.2 2.5 38

 39 FA403063095 Other -0.3 -0.3 -0.3 -0.4 -0.3 -0.3 -0.4 -0.4 -0.4 39

 40 FA613063003 Finance companies 9.7 29.3 1.3 24.7 28.5 62.8 0.8 0.8 17.9 40

 41 FA643063005 REITs -25.1 5.0 -4.0 8.4 10.1 5.5 24.3 -15.4 33.7 41

 42 FA663063005 Brokers and dealers 5.9 -62.0 -31.0 -8.1 -1.7 -207.1 -49.3 3.6 43.7 42

 43 FA733063003 Holding companies -2.5 3.6 20.5 -11.3 -0.1 5.3 -0.1 0.1 12.3 43

 44 FA503063005 Other financial business 5.4 0.1 -7.4 44.2 -19.2 -17.3 33.0 -2.2 27.0 44

 45 FA263063005 Rest of the world (4) 213.4 74.5 313.5 -54.1 30.0 8.5 448.2 102.2 169.7 45

 46 FA263063603 MBS and other ABS 28.8 16.1 73.5 -10.2 -16.6 17.5 25.0 29.3 6.8 46

 47 FA263063095 Other 184.5 58.4 240.0 -43.9 46.6 -9.0 423.3 72.8 162.8 47

(1) Net issuance less net acquisition of corporate bonds held as assets.

(2) Net purchases of foreign issues by U.S. residents.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
Transactions

Z.1, December 9, 2022 61

F.214 Loans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FA894123005 Net change in total loans 1592.3 2204.7 2120.5 1559.0 2655.2 2484.1 3520.7 3078.1 2518.8 1

 2 FA793068005 Depository institution loans n.e.c. 413.7 128.2 114.3 -182.1 -176.8 757.5 260.7 851.2 422.4 2

 3 FA893169005 Other loans and advances 428.4 570.0 924.8 215.2 1257.3 -117.3 1348.5 236.0 514.2 3

 4 FA893065005 Mortgages 762.3 1260.5 906.6 1250.6 1343.4 1541.5 1539.0 1599.2 1260.7 4

 5 FA893065105 One-to-four-family residential 478.4 895.6 648.7 948.6 976.3 1008.7 1086.8 1100.9 865.7 5

 6 FA893065405 Multifamily residential 132.5 130.7 112.9 102.3 112.4 195.3 159.8 168.0 160.2 6

 7 FA893065505 Commercial 130.7 198.5 109.8 164.1 218.7 301.5 269.2 306.9 211.0 7

 8 FA893065603 Farm 20.7 35.7 35.2 35.6 36.0 36.0 23.2 23.4 23.7 8

 9 FA153166000 Consumer credit -12.0 246.0 174.8 275.3 231.3 302.5 372.5 391.7 321.5 9

 By sector

 10 FA894123005 Net change in liabilities 1592.3 2204.7 2120.5 1559.0 2655.2 2484.1 3520.7 3078.1 2518.8 10

 11 FA384123005 Domestic nonfinancial sectors 1474.3 1902.8 1730.3 1401.8 2400.5 2078.8 2778.5 2744.5 2051.0 11

 12 FA154123005 Household sector 628.1 1235.0 1142.2 1257.5 1114.7 1425.4 1470.8 1351.5 1164.8 12

 13 FA104123005 Nonfinancial corporate business 416.1 405.5 320.1 -18.1 442.9 877.3 811.8 893.1 512.8 13

 14 FA114123005 Nonfinancial noncorporate business 429.1 261.9 267.2 162.4 121.0 496.9 495.4 499.5 373.1 14

 15 FA314123005 Federal government 0.0 0.0 0.0 0.0 722.2 -722.2 0.0 0.0 0.0 15

 16 FA213169203 State and local governments 1.0 0.5 0.7 0.0 -0.3 1.5 0.5 0.4 0.3 16

 17 FA794123005 Domestic financial sectors 53.6 152.7 318.5 46.1 103.9 142.4 712.2 152.4 282.7 17

 18 FA763169305 U.S.-chartered depository institutions -232.6 -64.4 44.6 -242.7 -43.7 -15.9 188.7 343.3 499.3 18

 19 FA473169333 Credit unions -9.0 -2.5 -11.9 -4.5 1.1 5.1 6.5 70.4 70.6 19

 20 FA513169333 Property-casualty insurance companies 6.4 -3.0 -2.5 -3.9 -3.6 -2.0 -2.7 -2.2 -2.6 20

 21 FA543169373 Life insurance companies 15.3 6.8 33.3 -14.0 -5.7 13.7 44.7 29.0 12.3 21

 22 FA403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA614123005 Finance companies 24.8 12.7 -11.9 163.0 -28.2 -72.1 -121.7 -29.7 -6.2 23

 24 FA644123005 REITs -6.9 0.2 -21.9 -15.8 -39.1 77.5 30.8 27.8 7.2 24

 25 FA664123005 Brokers and dealers 131.0 145.1 108.4 132.6 253.5 85.9 518.6 -188.6 -247.7 25

 26 FA504123005 Other financial business 124.5 57.9 180.5 31.5 -30.3 50.1 47.2 -97.5 -50.1 26

 27 FA264123005 Rest of the world 64.5 149.1 71.8 111.1 150.7 262.9 30.0 181.2 185.1 27

 28 FA894123005 Net change in assets 1592.3 2204.7 2120.5 1559.0 2655.2 2484.1 3520.7 3078.1 2518.8 28

 29 FA384023005 Domestic nonfinancial sectors 384.4 290.9 198.2 126.1 486.7 352.6 782.0 -65.6 0.1 29

 30 FA154023005 Household sector 113.0 96.4 53.9 64.4 203.6 63.8 523.3 -223.8 -227.7 30

 31 FA104023005 Nonfinancial corporate business 8.0 6.7 18.9 -63.5 8.3 63.1 16.3 -63.0 6.6 31

 32 FA114023005 Nonfinancial noncorporate business 4.3 3.8 6.1 0.7 5.2 3.1 4.6 4.6 2.9 32

 33 FA314023005 Federal government 254.1 176.4 111.7 116.8 262.0 215.0 230.1 208.9 210.6 33

 34 FA213065005 State and local governments 5.0 7.7 7.7 7.7 7.7 7.7 7.7 7.7 7.6 34

 35 FA794023005 Domestic financial sectors 1134.7 1791.7 1820.6 1348.6 2019.1 1978.6 2667.9 3026.6 2504.0 35

 36 FA713068005 Monetary authority 52.2 -10.1 26.0 109.8 -84.4 -91.6 -32.3 -22.6 -9.3 36

 37 FA764023005 U.S.-chartered depository institutions 290.3 347.5 48.9 -14.6 232.0 1123.4 668.7 1596.2 973.2 37

 38 FA754023005 Foreign banking offices in U.S. 17.7 84.4 -67.6 9.4 128.6 267.3 108.0 189.1 121.2 38

 39 FA744023003 Banks in U.S.-affiliated areas 0.9 -4.4 -4.7 -3.7 -5.6 -3.6 -4.6 1.5 3.8 39

 40 FA474023000 Credit unions 60.4 92.3 57.7 82.2 106.9 122.5 210.1 315.0 336.6 40

 41 FA513065505 Property-casualty insurance companies 1.4 3.4 0.3 4.8 3.6 4.9 7.5 2.7 1.5 41

 42 FA544023005 Life insurance companies 27.4 50.1 15.4 50.1 66.0 68.9 66.6 63.8 39.9 42

 43 FA573065005 Private pension funds 1.2 0.3 0.3 0.4 0.3 0.4 0.3 0.2 0.4 43

 44 FA313169003 Federal government retirement funds 0.0 0.0 0.0 0.0 722.2 -722.2 0.0 0.0 0.0 44

 45 FA223065043 State and local govt. retirement funds -0.9 1.1 2.0 -0.7 -0.1 3.2 -5.4 2.2 -0.0 45

 46 FA653069803 Mutual funds -30.2 55.5 63.7 68.3 38.7 51.5 82.4 -42.5 -61.6 46

 47 FA404023005 Government-sponsored enterprises 417.7 730.8 958.5 595.3 628.2 741.2 1087.0 840.6 833.4 47

 48 FA413065005 Agency- and GSE-backed mortgage pools 22.3 73.5 33.7 117.5 51.5 91.2 152.5 201.0 209.3 48

 49 FA674023005 ABS issuers 34.7 113.0 10.1 37.7 167.9 236.2 112.6 90.2 64.1 49

 50 FA614023005 Finance companies -9.9 -5.5 46.1 62.9 -29.9 -101.3 -26.3 28.5 45.1 50

 51 FA643065005 REITs -8.2 64.1 28.1 62.3 84.3 81.6 40.7 35.8 -19.2 51

 52 FA663069005 Brokers and dealers 233.1 175.8 460.8 167.5 -10.7 85.5 61.7 -137.0 -57.3 52

 53 FA733069005 Holding companies -11.1 23.6 58.3 33.7 -18.1 20.7 81.2 -20.1 20.2 53

 54 FA503069005 Other financial business 35.7 -3.7 83.1 -34.2 -62.5 -1.1 57.2 -118.3 2.8 54

 55 FA263069500 Rest of the world 73.3 122.1 101.8 84.3 149.4 152.9 70.8 117.1 14.7 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
Transactions

62 Z.1, December 9, 2022

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA793068005 Net change in liabilities 413.7 128.2 114.3 -182.1 -176.8 757.5 260.7 851.2 422.4 1

 2 FA153168005 Household sector 20.5 53.1 -1.4 5.4 52.9 155.7 53.3 84.2 42.1 2

 3 FA103168005 Nonfinancial corporate business 153.0 -38.3 33.0 -325.7 -131.1 270.4 234.0 500.4 241.1 3

 4 FA113168005 Nonfinancial noncorporate business 98.1 -85.4 0.1 -188.2 -236.9 83.3 82.1 85.4 38.9 4

 5 FA793168005 Domestic financial sectors 75.8 46.5 12.8 216.5 -48.5 5.2 -122.7 14.1 -49.8 5

 6 FA613168005 Finance companies 25.3 13.1 -10.3 162.9 -28.3 -72.1 -121.7 -29.7 -6.2 6

 7 FA643168005 REITs -0.4 9.4 1.5 -5.4 -14.5 55.9 12.5 11.3 -20.7 7

 8 FA663168005 Brokers and dealers 10.2 43.7 28.6 67.2 54.6 24.3 -4.6 37.0 -18.9 8

 9 FA713068505 Other financial business (2) 40.7 -19.6 -7.0 -8.2 -60.4 -3.0 -8.9 -4.5 -4.0 9

 10 FA263168005 Rest of the world 66.3 152.4 69.9 109.8 186.9 242.9 14.1 167.1 150.1 10

 11 FA263168465 Foreign official institutions -0.9 1.0 3.3 -1.5 -0.1 2.0 -0.5 -1.8 0.7 11

 12 FA263168485 Foreign nonfinancial corporations -8.9 12.8 10.2 -8.7 23.3 26.5 24.9 12.0 8.2 12

 13 FA263168495 Foreign nondepository financial institutions 76.0 138.6 56.3 120.0 163.7 214.3 -10.3 157.0 141.2 13

 14 FA793068005 Net change in assets 413.7 128.2 114.3 -182.1 -176.8 757.5 260.7 851.2 422.4 14

 15 FA713068005 Monetary authority (3) 52.2 -10.1 26.0 109.8 -84.4 -91.6 -32.3 -22.6 -9.3 15

 16 FA763068005 U.S.-chartered depository institutions 336.1 58.9 138.1 -293.8 -214.3 605.7 138.6 633.0 204.1 16

 17 FA753068005 Foreign banking offices in U.S. 17.1 74.3 -65.2 5.2 119.2 238.1 92.7 172.6 106.8 17

 18 FA743068005 Banks in U.S.-affiliated areas 0.6 -2.9 -2.8 -1.4 -5.4 -2.0 -1.7 1.5 2.2 18

 19 FA473068005 Credit unions 7.7 7.9 18.2 -1.9 8.1 7.3 63.4 66.7 118.6 19

(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 Federal Reserve funding, credit, and liquidity facility special purpose vehicles.

(3) Loans from Federal Reserve banks to the household, broker and dealer, finance companies, and other financial business sectors.
Transactions

Z.1, December 9, 2022 63

F.216 Other Loans and Advances (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893169005 Total other loans and advances 428.4 570.0 924.8 215.2 1257.3 -117.3 1348.5 236.0 514.2 1

 2 FA163069005 Nonprofit organization loans -0.1 -0.7 -0.7 -0.7 -0.7 -0.7 -0.4 -0.4 -0.4 2

 3 FA153169055 Liab.: Household sector -0.9 -1.4 -1.4 -1.4 -1.4 -1.4 -1.1 -1.1 -1.1 3

 4 FA163069043 Nonfinancial noncorporate business 0.8 0.7 0.7 0.7 0.7 0.7 0.8 0.8 0.8 4

 5 FA313069205 U.S. government loans 189.0 115.0 28.8 37.8 205.9 187.5 182.8 127.4 123.8 5

 6 FA153169203 Liab.: Household sector 10.2 8.7 4.0 9.4 13.1 8.3 7.6 8.1 5.8 6

 7 FA103169205 Nonfinancial corporate business 110.5 66.9 13.8 19.2 123.5 111.3 113.8 75.1 77.3 7

 8 FA113169205 Nonfinancial noncorporate business 67.7 41.1 9.5 11.2 72.1 71.7 67.3 47.0 46.1 8

 9 FA213169203 State and local governments 1.0 0.5 0.7 0.0 -0.3 1.5 0.5 0.4 0.3 9

 10 FA403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FA313069223 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA503169205 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA263169203 Rest of the world -0.4 -2.2 0.9 -1.9 -2.5 -5.3 -6.5 -3.2 -5.6 13

 14 FA153169405 Policy loans (Household liability) -0.6 -1.8 -3.0 -3.0 0.1 -1.3 -9.3 1.1 1.4 14

 15 FA313069403 Asset: Federal government -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FA543069405 Life insurance companies -0.5 -1.8 -3.0 -3.0 0.1 -1.3 -9.3 1.0 1.4 16

 17 FA313169003 Federal government retirement funds loans 0.0 0.0 0.0 0.0 722.2 -722.2 0.0 0.0 0.0 17

 18 FA313169003 Liab.: Federal government 0.0 0.0 0.0 0.0 722.2 -722.2 0.0 0.0 0.0 18

 19 FA403069330 Federal Home Loan Banks advances (2) -228.6 -63.6 61.9 -265.1 -52.0 0.9 237.2 440.4 579.3 19

 20 FA763169335 Liab.: U.S.-chartered depository institutions -232.6 -64.4 44.6 -242.7 -43.7 -15.9 188.7 343.3 499.3 20

 21 FA473169333 Credit unions -9.0 -2.5 -11.9 -4.5 1.1 5.1 6.5 70.4 70.6 21

 22 FA513169333 Property-casualty insurance companies 6.4 -3.0 -2.5 -3.9 -3.6 -2.0 -2.7 -2.2 -2.6 22

 23 FA543169373 Life insurance companies 15.3 6.8 33.3 -14.0 -5.7 13.7 44.7 29.0 12.3 23

 24 FA613169333 Finance companies -0.5 -0.4 -1.6 0.0 0.0 -0.0 0.0 -0.0 -0.1 24

 25 FA643169373 Real estate investment trusts -8.2 -0.0 0.0 -0.0 -0.1 0.0 0.0 0.0 -0.2 25

 26 FA403069395 Government-sponsored enterprise (GSE) loans (3) 13.5 11.2 2.1 -1.7 8.9 35.7 43.6 -11.1 14.5 26

 27 FA153169305 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FA183169305 Nonfinancial corporate business (FCS) 1.8 1.3 3.0 -1.5 -1.8 5.3 15.9 -5.7 -3.1 28

 29 FA113169305 Nonfinancial noncorporate business (FCS) 11.7 10.0 -0.9 -0.3 10.7 30.3 27.8 -5.5 17.6 29

 30 FA763169383 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA663067003 Margin accounts at brokers and dealers 156.7 92.4 365.3 86.1 -95.1 13.1 32.5 -160.6 -10.9 31

 32 FA663067003 Liab.: Household sector 156.7 92.4 365.3 86.1 -95.1 13.1 32.5 -160.6 -10.9 32

 33 FA153067005 Cash accounts at brokers and dealers 120.8 101.4 79.7 65.4 198.8 61.6 523.2 -225.6 -228.8 33

 34 FA153067005 Asset: Household sector 120.8 101.4 79.7 65.4 198.8 61.6 523.2 -225.6 -228.8 34

 35 FA503169023 Clearing funds at other financial business 83.9 77.6 187.5 39.7 30.1 53.1 56.2 -93.0 -46.0 35

 36 FA763069023 Asset: U.S.-chartered depository institutions 3.0 1.9 -2.2 -5.3 10.8 4.3 -16.7 0.2 -2.2 36

 37 FA663069025 Brokers and dealers 67.7 75.0 98.0 74.1 80.4 47.5 15.2 28.4 -50.6 37

 38 FA503069025 Other financial business 13.1 0.7 91.7 -29.1 -61.2 1.3 57.6 -121.6 6.7 38

 39 FA103169803 Loans to nonfinancial corporate business (4) 28.0 114.9 40.4 114.0 132.2 173.3 144.5 24.3 13.7 39

 40 FA153069803 Asset: Household sector -2.9 -8.7 -31.8 -2.8 1.6 -1.6 3.7 7.1 4.8 40

 41 FA543069873 Life insurance companies 2.4 5.7 5.8 6.6 7.1 3.4 4.1 -1.6 10.9 41

 42 FA653069803 Mutual funds -30.2 55.5 63.7 68.3 38.7 51.5 82.4 -42.5 -61.6 42

 43 FA673069803 ABS issuers 47.4 55.1 8.2 36.6 80.2 95.2 36.7 58.3 55.3 43

 44 FA663069803 Brokers and dealers 8.8 8.4 -2.5 7.3 4.0 24.9 14.0 -4.8 4.2 44

 45 FA503069805 Other financial business 2.6 -1.1 -2.9 -2.0 0.6 -0.0 3.6 7.7 0.2 45

 46 FA673069505 Securitized loans held by ABS issuers 0.0 6.5 0.0 0.0 24.5 1.4 -1.6 -3.7 -2.5 46

 47 FA673069505 Liab.: Nonfinancial corporate business 0.0 6.5 0.0 0.0 24.5 1.4 -1.6 -3.7 -2.5 47

 48 FA613069505 Finance company loans to business -16.4 -25.3 8.5 27.9 -47.0 -90.8 -8.2 44.6 39.3 48

 49 FA103169535 Liab.: Nonfinancial corporate business -21.8 -31.5 -22.7 -62.5 -24.5 -16.1 9.8 53.5 43.3 49

 50 FA113169535 Nonfinancial noncorporate business 5.3 6.1 31.2 90.4 -22.5 -74.7 -18.0 -9.0 -4.0 50

 51 FA733069005 Holding company loans -11.1 23.6 58.3 33.7 -18.1 20.7 81.2 -20.1 20.2 51

 52 FA733069013 Liab.: Nonfinancial corporate business -9.7 24.7 57.3 30.5 15.6 -4.7 58.8 -37.5 -20.4 52

 53 FA733069023 Rest of the world -1.4 -1.0 1.0 3.2 -33.7 25.3 22.4 17.4 40.6 53

 54 FA503069075 Other financial business loans (5) 20.1 -3.3 -5.7 -3.1 -1.9 -2.4 -4.0 -4.4 -4.1 54

 55 FA503069003 Liab.: Household sector (TALF II) 3.6 -2.2 -5.7 -2.1 -0.7 -0.4 -0.3 -0.6 -0.3 55

 56 FA503069013 Nonfinancial corporate business (MSLF) 6.0 -0.4 -0.1 -0.4 -0.4 -0.8 -1.3 -1.4 -1.4 56

 57 FA503069023 Nonfinancial noncorporate business (MSLF) 10.5 -0.6 -0.0 -0.7 -0.8 -0.9 -2.3 -2.5 -2.4 57

 58 FA503069033 Nonprofit organizations (MSLF) 0.0 -0.0 0.0 -0.0 -0.0 -0.2 0.0 0.0 0.0 58

 59 FA263069500 Foreign loans to U.S. corporate business 73.3 122.1 101.8 84.3 149.4 152.9 70.8 117.1 14.7 59

 60 FA263069500 Liab.: Nonfinancial corporate business 73.3 122.1 101.8 84.3 149.4 152.9 70.8 117.1 14.7 60

(1) Customers’ liability on acceptances outstanding are inlcuded elsewhere beginning 2008q3 and are no longer shown on the table. These are assets of U.S.-chatered depository institutions

 and foreign banking offices in U.S., and liabilties of nonfinancial corporate business and rest of the world.

(2) 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.

(3) 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 19.

(4) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.

(5) 2020 Term Asset-Backed Securities Loan Facility (TALF II) loans to domestic hedge funds and private equity funds and Main Street Lending Facility (MSLF) loans.
Transactions

64 Z.1, December 9, 2022

F.217 Total Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893065005 Net change in mortgages 762.3 1260.5 906.6 1250.6 1343.4 1541.5 1539.0 1599.2 1260.7 1

 2 FA893065105 One-to-four-family residential 478.4 895.6 648.7 948.6 976.3 1008.7 1086.8 1100.9 865.7 2

 3 FA893065405 Multifamily residential 132.5 130.7 112.9 102.3 112.4 195.3 159.8 168.0 160.2 3

 4 FA893065505 Commercial 130.7 198.5 109.8 164.1 218.7 301.5 269.2 306.9 211.0 4

 5 FA893065603 Farm 20.7 35.7 35.2 35.6 36.0 36.0 23.2 23.4 23.7 5

 6 FA893065005 Net borrowing 762.3 1260.5 906.6 1250.6 1343.4 1541.5 1539.0 1599.2 1260.7 6

 7 FA153165005 Household sector 450.6 840.3 609.7 887.7 914.6 949.2 1015.7 1028.7 806.3 7

 8 FA143165005 Nonfinancial business 310.0 429.4 320.3 373.3 453.3 570.7 505.0 554.1 426.2 8

 9 FA103165005 Corporate 75.0 139.4 93.6 124.0 155.6 184.2 167.2 170.9 150.1 9

 10 FA113165005 Noncorporate 234.9 290.0 226.6 249.3 297.6 386.5 337.9 383.2 276.1 10

 11 FA313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA123165005 REITs 1.8 -9.1 -23.4 -10.3 -24.5 21.6 18.3 16.5 28.1 12

 13 FA893065005 Net change in assets 762.3 1260.5 906.6 1250.6 1343.4 1541.5 1539.0 1599.2 1260.7 13

 14 FA153065005 Household sector -1.6 6.1 7.6 5.2 5.8 5.7 -1.5 -3.4 -1.2 14

 15 FA103065003 Nonfinancial corporate business 8.0 6.7 6.3 6.5 6.8 7.0 7.3 7.5 7.8 15

 16 FA113065005 Nonfinancial noncorporate business 4.3 3.8 6.1 0.7 5.2 3.1 4.6 4.6 2.9 16

 17 FA313065005 Federal government 3.3 6.0 4.4 4.9 8.2 6.5 7.2 13.0 19.6 17

 18 FA313065015 Ginnie Mae -0.2 -0.3 -0.3 -0.3 -0.4 -0.3 -0.3 -0.2 -0.2 18

 19 FA313065075 Farmers Home Administration (FmHA) (2) 2.5 3.4 2.7 1.6 3.8 5.4 2.1 4.3 3.1 19

 20 FA313065035 Federal Housing Administration (FHA) 1.1 2.9 1.9 3.6 4.7 1.4 5.4 9.0 16.7 20

 21 FA313065065 Federal Deposit Insurance Corporation -0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 21

 22 FA313065095 Other (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA213065005 State and local governments 5.0 7.7 7.7 7.7 7.7 7.7 7.7 7.7 7.6 23

 24 FA703065005 Private depository institutions 87.7 212.5 -85.8 135.1 378.7 422.1 374.6 818.6 752.6 24

 25 FA763065005 U.S.-chartered depository institutions 41.1 146.4 -109.9 77.1 301.8 316.8 296.5 692.3 627.0 25

 26 FA753065005 Foreign banking offices in U.S. 0.6 10.1 -2.4 4.1 9.5 29.2 15.3 16.5 14.4 26

 27 FA743065003 Banks in U.S.-affiliated areas 0.3 -1.5 -1.9 -2.3 -0.2 -1.6 -2.8 -0.0 1.6 27

 28 FA473065100 Credit unions 45.6 57.5 28.4 56.2 67.7 77.8 65.6 109.8 109.7 28

 29 FA513065505 Property-casualty insurance companies 1.4 3.4 0.3 4.8 3.6 4.9 7.5 2.7 1.5 29

 30 FA543065005 Life insurance companies 25.5 46.2 12.7 46.5 58.8 66.8 71.9 64.3 27.6 30

 31 FA573065005 Private pension funds 1.2 0.3 0.3 0.4 0.3 0.4 0.3 0.2 0.4 31

 32 FA223065043 State and local govt. retirement funds -0.9 1.1 2.0 -0.7 -0.1 3.2 -5.4 2.2 -0.0 32

 33 FA403065005 Government-sponsored enterprises 632.9 783.1 894.5 862.1 671.3 704.6 806.2 411.4 239.7 33

 34 FA403065015 Fannie Mae 290.4 309.6 354.8 452.0 170.5 261.0 377.7 221.6 43.5 34

 35 FA403065025 Freddie Mac 335.3 462.9 536.6 400.9 489.3 424.9 415.7 176.5 189.2 35

 36 FA403065045 Farm Credit System 14.9 16.9 12.9 18.7 14.0 21.8 8.0 10.3 8.4 36

 37 FA403065035 FHLB -9.7 -7.3 -10.0 -11.4 -3.7 -4.1 4.1 1.2 -1.0 37

 38 FA403065653 Farmer Mac 1.9 1.1 0.3 1.8 1.1 1.0 0.7 1.7 -0.4 38

 39 FA413065005 Agency- and GSE-backed mortgage pools 22.3 73.5 33.7 117.5 51.5 91.2 152.5 201.0 209.3 39

 40 FA413065015 Ginnie Mae -14.2 45.8 -12.1 73.9 44.3 77.1 153.0 193.0 215.5 40

 41 FA413065025 Freddie Mac 37.7 28.0 46.5 44.3 8.0 13.2 -0.3 8.0 -6.0 41

 42 FA413065045 Fannie Mae -1.1 -0.6 -0.4 -0.8 -0.8 -0.4 -0.1 -0.0 -0.2 42

 43 FA413065653 Farmer Mac -0.2 0.3 -0.4 0.1 0.1 1.3 -0.1 0.0 0.0 43

 44 FA413065035 Farmers Home Administration (FmHA) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 FA673065005 ABS issuers -11.5 51.9 3.1 1.4 66.1 136.8 79.9 33.7 11.7 45

 46 FA613065000 Finance companies -7.2 -5.8 -14.3 -3.8 -4.9 -0.1 -14.4 -0.2 0.5 46

 47 FA643065005 REITs -8.2 64.1 28.1 62.3 84.3 81.6 40.7 35.8 -19.2 47

(1) Sum of one-to-four-family residential mortgages (table L.218), multifamily residential mortgages (table L.219), commercial mortgages (table L.220), and farm mortgages (table L.221).

(2) FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting changes by

 the Farmers Home Administration.

(3) Other includes Department of Veterans Affairs, Federal Financing Bank, Public Housing Administration, and Resolution Trust Corporation.
Transactions

Z.1, December 9, 2022 65

F.218 One-to-four-family Residential Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893065105 Net borrowing 478.4 895.6 648.7 948.6 976.3 1008.7 1086.8 1100.9 865.7 1

 2 FA153165105 Household sector 449.2 839.2 608.6 886.6 913.5 948.1 1014.2 1027.2 804.8 2

 3 FA103165105 Nonfinancial corporate business -0.5 2.1 0.6 3.0 3.9 0.7 3.7 3.8 4.3 3

 4 FA113165105 Nonfinancial noncorporate business 29.7 54.3 39.5 59.0 59.0 59.9 69.0 70.0 56.6 4

 5 FA893065105 Net change in assets 478.4 895.6 648.7 948.6 976.3 1008.7 1086.8 1100.9 865.7 5

 6 FA153065103 Household sector -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 -3.5 6

 7 FA103065105 Nonfinancial corporate business 4.8 4.0 3.8 3.9 4.1 4.2 4.4 4.5 4.7 7

 8 FA113065103 Nonfinancial noncorporate business 1.6 1.4 2.2 0.3 1.9 1.1 1.7 1.7 1.1 8

 9 FA313065105 Federal government 1.2 2.2 0.9 3.5 3.6 0.8 4.8 8.5 16.3 9

 10 FA213065103 State and local governments 1.8 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 10

 11 FA763065105 U.S.-chartered depository institutions -55.4 25.6 -153.7 -49.6 161.0 144.6 90.2 383.6 317.1 11

 12 FA753065103 Foreign banking offices in U.S. -0.2 -0.0 -0.7 0.0 0.8 -0.2 -0.4 0.0 -0.3 12

 13 FA743065103 Banks in U.S.-affiliated areas 0.3 -1.5 -1.4 -1.8 -1.4 -1.4 -2.4 -0.8 -0.4 13

 14 FA473065100 Credit unions 45.6 57.5 28.4 56.2 67.7 77.8 65.6 109.8 109.7 14

 15 FA543065105 Life insurance companies 0.7 10.9 7.7 10.4 12.1 13.2 7.5 5.7 1.8 15

 16 FA573065103 Private pension funds -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

 17 FA223065143 State and local govt. retirement funds -0.3 0.4 0.7 -0.3 -0.0 1.2 -2.0 0.8 -0.0 17

 18 FA403065105 Government-sponsored enterprises 560.3 738.9 847.5 852.2 614.8 641.2 768.2 379.2 201.8 18

 19 FA413065105 Agency- and GSE-backed mortgage pools -15.8 35.4 -28.7 67.3 32.6 70.6 140.5 188.2 205.9 19

 20 FA673065105 ABS issuers -31.2 -1.6 -56.4 -16.3 29.3 37.1 27.9 19.7 9.2 20

 21 FA613065105 Finance companies -8.2 -3.6 -12.8 -1.2 -2.0 1.7 -11.5 0.5 0.4 21

 22 FA643065105 REITs -23.2 26.0 11.3 24.0 51.9 16.9 -7.8 -0.3 -1.5 22

 Memo:

 23 FV893065153 Charge-offs (2) 8.7 4.5 1.2 1.1 1.0 1.2 0.8 0.9 0.9 23

 24 FA893065125 Home equity loans included above (3) -58.4 -42.8 -80.6 -40.4 -30.3 -19.9 -34.5 63.2 56.2 24

 25 FA763065125 U.S.-chartered depository institutions -48.0 -41.0 -64.9 -39.5 -35.5 -24.0 -17.3 27.3 23.3 25

 26 FA753065203 Foreign banking offices in U.S. -0.2 -0.0 -0.0 -0.1 -0.0 -0.0 -0.0 0.0 -0.1 26

 27 FA473065125 Credit unions -7.0 0.2 -13.2 2.0 7.8 4.2 -15.3 37.5 34.2 27

 28 FA673065123 ABS issuers -1.5 -1.3 -1.7 -2.1 -1.8 0.5 -1.4 -1.2 -1.0 28

 29 FA613065123 Finance companies -1.7 -0.7 -0.8 -0.8 -0.7 -0.6 -0.5 -0.4 -0.3 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from transactions (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893065405 Net borrowing 132.5 130.7 112.9 102.3 112.4 195.3 159.8 168.0 160.2 1

 2 FA103165405 Nonfinancial corporate business 6.6 6.6 5.6 5.2 5.6 10.1 8.1 8.4 8.3 2

 3 FA113165405 Nonfinancial noncorporate business 125.0 125.7 106.7 98.5 106.3 191.4 153.2 159.7 158.6 3

 4 FA313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA123165403 REITs 1.0 -1.6 0.5 -1.4 0.5 -6.1 -1.4 -0.1 -6.7 5

 6 FA893065405 Net change in assets 132.5 130.7 112.9 102.3 112.4 195.3 159.8 168.0 160.2 6

 7 FA153065403 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA103065403 Nonfinancial corporate business 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 8

 9 FA113065403 Nonfinancial noncorporate business 1.5 1.3 2.1 0.2 1.8 1.0 1.6 1.6 1.0 9

 10 FA313065405 Federal government -0.5 -0.3 0.1 -0.1 -0.2 -0.7 -0.3 -0.3 -0.2 10

 11 FA213065403 State and local governments 2.5 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 11

 12 FA763065403 U.S.-chartered depository institutions 24.8 34.1 5.9 40.7 24.8 64.9 70.3 120.7 113.7 12

 13 FA753065403 Foreign banking offices in U.S. 2.6 1.8 0.1 1.6 -0.5 6.0 -0.1 9.6 7.7 13

 14 FA543065405 Life insurance companies 7.7 9.2 -0.5 8.5 13.2 15.7 17.5 15.4 8.1 14

 15 FA573065403 Private pension funds -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 15

 16 FA223065443 State and local govt. retirement funds -0.3 0.3 0.6 -0.2 -0.0 1.0 -1.6 0.7 -0.0 16

 17 FA403065405 Government-sponsored enterprises 55.4 25.5 29.4 -9.5 37.7 44.6 25.9 19.1 26.7 17

 18 FA413065405 Agency- and GSE-backed mortgage pools 38.3 37.7 62.8 50.1 18.8 19.3 12.1 12.8 3.4 18

 19 FA673065405 ABS issuers 5.3 12.3 5.9 1.8 8.8 32.9 30.6 -14.9 -0.7 19

 20 FA613065403 Finance companies -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.2 -0.3 20

 21 FA643065405 REITs -4.4 5.4 3.3 5.9 4.8 7.5 0.7 0.2 -2.5 21
Transactions

66 Z.1, December 9, 2022

F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893065505 Net borrowing 130.7 198.5 109.8 164.1 218.7 301.5 269.2 306.9 211.0 1

 2 FA163165505 Nonprofit organizations (1) 1.4 1.1 1.1 1.1 1.1 1.1 1.5 1.5 1.5 2

 3 FA103165505 Nonfinancial corporate business 63.0 120.4 76.0 106.0 135.6 164.2 149.6 152.9 132.1 3

 4 FA113165505 Nonfinancial noncorporate business 65.4 84.5 56.6 65.9 106.9 108.5 98.3 135.9 42.6 4

 5 FA123165503 REITs 0.8 -7.5 -23.9 -8.9 -24.9 27.7 19.7 16.6 34.8 5

 6 FA893065505 Net change in assets 130.7 198.5 109.8 164.1 218.7 301.5 269.2 306.9 211.0 6

 7 FA153065505 Household sector 0.1 0.1 0.0 0.1 0.1 0.2 0.1 0.1 0.1 7

 8 FA103065503 Nonfinancial corporate business 3.1 2.6 2.4 2.5 2.6 2.7 2.8 2.9 3.0 8

 9 FA113065503 Nonfinancial noncorporate business 1.2 1.0 1.7 0.2 1.4 0.8 1.3 1.3 0.8 9

 10 FA313065505 Federal government 1.3 2.8 2.4 0.0 3.5 5.3 2.1 3.6 2.2 10

 11 FA213065503 State and local governments 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 11

 12 FA763065503 U.S.-chartered depository institutions 72.8 82.8 34.0 82.0 112.0 103.2 128.8 180.7 188.7 12

 13 FA753065503 Foreign banking offices in U.S. -1.8 8.3 -1.6 2.5 8.6 23.7 15.9 6.7 7.0 13

 14 FA743065505 Banks in U.S.-affiliated areas 0.0 0.0 -0.5 -0.5 1.2 -0.2 -0.4 0.7 2.0 14

 15 FA513065505 Property-casualty insurance companies 1.4 3.4 0.3 4.8 3.6 4.9 7.5 2.7 1.5 15

 16 FA543065505 Life insurance companies 15.7 24.2 3.6 25.6 31.5 36.0 45.4 41.7 16.2 16

 17 FA573065505 Private pension funds 1.6 0.7 0.7 0.8 0.7 0.8 0.7 0.6 0.8 17

 18 FA223065545 State and local govt. retirement funds -0.3 0.4 0.7 -0.2 -0.0 1.1 -1.8 0.7 -0.0 18

 19 FA413065505 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FA673065505 ABS issuers 14.4 41.1 53.6 15.9 28.0 66.9 21.4 28.9 3.3 20

 21 FA613065503 Finance companies 1.3 -2.0 -1.3 -2.4 -2.7 -1.5 -2.7 -0.4 0.4 21

 22 FA643065505 REITs 19.4 32.7 13.5 32.4 27.6 57.2 47.8 36.0 -15.2 22

(1) Liability of the households and nonprofit organizations sector (table F.101).

F.221 Farm Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893065603 Net borrowing 20.7 35.7 35.2 35.6 36.0 36.0 23.2 23.4 23.7 1

 2 FA183165605 Nonfinancial corporate business 5.9 10.2 11.4 9.8 10.5 9.3 5.7 5.8 5.3 2

 3 FA233165605 Nonfinancial noncorporate business 14.8 25.5 23.8 25.8 25.5 26.7 17.4 17.6 18.4 3

 4 FA893065603 Net change in assets 20.7 35.7 35.2 35.6 36.0 36.0 23.2 23.4 23.7 4

 5 FA153065605 Household sector 1.9 9.5 11.1 8.6 9.2 9.0 1.9 -0.0 2.2 5

 6 FA113065603 Nonfinancial noncorporate business 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.1 6

 7 FA313065605 Federal government 1.4 1.2 1.0 1.6 1.2 1.1 0.6 1.2 1.3 7

 8 FA213065603 State and local governments 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 8

 9 FA763065633 U.S.-chartered depository institutions -1.1 4.0 3.9 4.0 4.0 4.0 7.2 7.3 7.4 9

 10 FA753065603 Foreign banking offices in U.S. -0.1 0.0 -0.2 -0.1 0.5 -0.3 -0.1 0.2 -0.0 10

 11 FA543065633 Life insurance companies 1.4 1.9 1.9 1.9 1.9 1.9 1.5 1.5 1.5 11

 12 FA223065643 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FA403065605 Government-sponsored enterprises 17.2 18.7 17.7 19.4 18.8 18.8 12.0 13.1 11.2 13

 14 FA413065605 Agency- and GSE-backed mortgage pools -0.2 0.3 -0.4 0.1 0.1 1.3 -0.1 0.0 0.0 14

(1) Excludes mortgages on farm houses.
Transactions

Z.1, December 9, 2022 67

F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA153166000 Net change in liabilities (Households) -12.0 246.0 174.8 275.3 231.3 302.5 372.5 391.7 321.5 1

 2 FA153166000 Net change in assets -12.0 246.0 174.8 275.3 231.3 302.5 372.5 391.7 321.5 2

 3 FA163066223 Nonprofit organizations (1) -3.2 -1.6 -0.9 -2.6 -1.9 -1.1 -1.8 -1.5 -2.1 3

 4 FA103066005 Nonfinancial corporate business -0.0 0.0 12.5 -70.0 1.5 56.1 9.0 -70.5 -1.2 4

 5 FA113066003 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA313066220 Federal government (2) 61.7 55.4 78.5 74.0 48.0 21.0 40.1 68.5 67.2 6

 7 FA763066000 U.S.-chartered depository institutions -90.1 140.2 22.9 207.5 133.6 196.7 250.3 270.7 144.4 7

 8 FA473066000 Credit unions 7.1 26.9 11.2 28.0 31.1 37.5 81.0 138.5 108.3 8

 9 FA403066005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FA673066000 ABS issuers -1.2 -0.5 -1.3 -0.4 -3.0 2.8 -2.4 1.8 -0.5 10

 11 FA613066005 Finance companies 13.7 25.6 51.9 38.8 22.0 -10.4 -3.7 -15.9 5.4 11

 Memo:

 12 FA153166100 Credit card loans (3) -122.1 67.1 -6.6 64.9 82.1 128.0 177.4 159.1 141.0 12

 13 FA153166400 Auto loans 40.3 89.7 93.3 116.4 76.8 72.6 99.9 116.8 99.6 13

 14 FA153166220 Student loans (4) 56.0 39.6 47.0 44.8 36.8 29.6 3.8 29.5 50.7 14

 15 FA153166205 Other consumer credit (5) 13.8 49.6 41.1 49.3 35.7 72.2 91.3 86.3 30.2 15

(1) Student loans originated under the Federal Family Education Loan Program. Assets of the households and nonprofit organizations sector (table F.101).

(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.
Transactions

68 Z.1, December 9, 2022

F.223 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893064105 Net issues 773.7 660.5 1361.2 1051.2 651.5 -421.8 388.2 660.2 75.4 1

 2 FA103164103 Nonfinancial corporate business -121.6 -338.1 -37.9 -281.0 -384.7 -648.9 -615.8 -741.1 -770.6 2

 3 FA793164105 Domestic financial sectors 499.4 843.8 1050.6 1012.6 585.1 727.1 576.3 526.0 365.0 3

 4 FA763164103 U.S.-chartered depository institutions 1.9 2.3 -1.4 6.4 15.1 -10.9 -26.6 9.0 3.9 4

 5 FA513164103 Property-casualty insurance companies -3.3 -9.4 -2.1 -5.2 -12.3 -18.0 -17.0 -18.6 -17.0 5

 6 FA543164173 Life insurance companies -15.2 -24.5 -23.4 -20.5 -29.7 -24.4 -35.4 -30.2 -31.6 6

 7 FA554090005 Closed-end funds 2.7 17.2 27.2 16.2 12.6 12.7 1.5 2.2 -2.1 7

 8 FA564090005 Exchange-traded funds 500.9 935.5 1075.9 1076.4 719.4 870.2 870.4 556.7 396.0 8

 9 FA643164103 REITs 21.9 39.2 31.3 43.1 43.8 38.6 40.9 27.8 13.4 9

 10 FA403164105 Government-sponsored enterprises -7.0 -1.5 -3.5 -1.7 -5.1 4.3 5.5 22.8 21.7 10

 11 FA663164103 Brokers and dealers 15.6 -4.8 4.0 1.8 -3.2 -21.8 -28.7 0.1 3.6 11

 12 FA733164103 Holding companies -18.2 -110.1 -57.3 -103.9 -155.5 -123.6 -234.2 -43.8 -23.0 12

 13 FA503164105 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FA263164100 Rest of the world (2) 396.0 154.8 348.5 319.6 451.1 -500.0 427.7 875.3 481.0 14

 15 FA893064105 Net purchases 773.7 660.5 1361.2 1051.2 651.5 -421.8 388.2 660.2 75.4 15

 16 FA153064105 Household sector 616.3 726.7 931.2 1364.3 474.3 136.9 991.8 302.4 -431.5 16

 17 FA103064103 Nonfinancial corporate business -136.0 -102.8 -94.2 -101.9 -102.1 -113.0 -102.8 -102.8 -102.8 17

 18 FA313064105 Federal government 0.0 -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 18

 19 FA213064103 State and local governments -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 19

 20 FA713064103 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FA763064103 U.S.-chartered depository institutions 2.9 2.4 4.1 3.8 -2.4 4.0 2.3 -7.7 -0.9 21

 22 FA753064103 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA513064105 Property-casualty insurance companies -21.8 2.6 0.2 5.8 -0.3 4.7 143.6 4.8 20.5 23

 24 FA543064105 Life insurance companies 1.1 -79.6 -59.5 -103.2 -67.2 -88.6 -27.8 31.1 -42.7 24

 25 FA573064105 Private pension funds -98.6 -108.7 -79.7 -124.9 -106.4 -123.7 -113.5 -98.0 -131.0 25

 26 FA343064105 Federal government retirement funds -23.9 10.2 18.4 13.6 -9.5 18.5 -31.7 17.7 -12.8 26

 27 FA223064145 State and local govt. retirement funds -28.4 -121.4 -165.0 -199.0 -253.5 131.9 97.3 -139.0 -40.1 27

 28 FA653064100 Mutual funds -481.4 -317.3 -590.3 -198.7 -102.8 -377.6 -522.7 -328.3 -252.9 28

 29 FA553064103 Closed-end funds 1.9 8.0 16.7 8.2 2.2 4.8 1.2 1.6 -0.0 29

 30 FA563064100 Exchange-traded funds 260.2 732.4 922.2 802.6 532.1 672.9 705.5 377.0 225.1 30

 31 FA663064103 Brokers and dealers 6.8 -33.7 154.6 -111.7 -104.0 -73.8 65.7 -74.7 93.6 31

 32 FA503064105 Other financial business 8.8 -8.8 -1.1 -29.8 -4.2 0.0 0.0 0.0 0.0 32

 33 FA263064105 Rest of the world (3) 669.2 -46.1 307.0 -274.5 398.6 -615.5 -817.1 679.6 754.4 33

(1) Includes shares of exchange-traded funds, closed-end funds, and real estate investment trusts. Excludes mutual fund shares shown on table L.224.

(2) Net purchases of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Net purchases of U.S. issues by foreign residents.

F.224 Mutual Fund Shares (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA653164205 Net issues -229.1 215.7 357.3 166.7 308.4 30.5 -444.3 -1155.1 -573.2 1

 2 FA653164205 Net purchases -229.1 215.7 357.3 166.7 308.4 30.5 -444.3 -1155.1 -573.2 2

 3 FA153064205 Household sector -188.4 514.6 469.5 73.7 303.8 1211.3 -700.2 -1299.5 -380.6 3

 4 FA103064203 Nonfinancial corporate business 11.0 23.1 23.1 23.1 23.1 23.1 23.1 23.1 23.1 4

 5 FA213064203 State and local governments 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 5

 6 FA763064203 U.S.-chartered depository institutions 1.5 2.0 1.7 7.9 -12.9 11.3 -3.4 -1.9 7.4 6

 7 FA473064205 Credit unions 0.9 1.6 4.5 2.0 2.1 -2.1 2.9 -2.9 1.5 7

 8 FA513064205 Property-casualty insurance companies 0.9 -1.0 1.1 -5.7 -2.8 3.5 1.5 -8.8 2.5 8

 9 FA543064205 Life insurance companies -99.2 -136.1 -112.5 -209.5 -124.1 -98.5 -124.5 -104.9 -59.0 9

 10 FA573064205 Private pension funds 34.8 -33.8 1.5 -63.7 -44.2 -28.6 -15.9 -109.0 -85.8 10

 11 FA223064205 State and local govt. retirement funds 8.8 -161.6 -81.9 -43.6 42.8 -563.8 61.6 -41.8 -127.6 11

 12 FA263064203 Rest of the world -0.7 5.8 49.1 381.5 119.4 -526.8 309.5 389.3 44.2 12

(1) Shares of open-end investment companies; excludes shares of money market funds and exchange-traded funds.
Transactions

Z.1, December 9, 2022 69

F.225 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893170005 Net change in trade payables 8.6 728.7 699.4 604.5 531.1 1079.9 916.2 829.0 -21.8 1

 2 FA163170005 Nonprofit organizations (1) 6.9 6.9 6.9 6.9 6.9 6.9 6.9 6.9 6.9 2

 3 FA103170005 Nonfinancial corporate business -155.9 451.9 395.5 365.1 270.9 776.1 723.5 601.1 -187.7 3

 4 FA113170005 Nonfinancial noncorporate business -27.0 58.0 93.2 44.5 48.3 46.1 41.3 34.8 20.2 4

 5 FA313170005 Federal government 33.0 64.5 43.8 74.5 58.2 81.3 76.6 92.4 21.6 5

 6 FA213170003 State and local governments 49.9 54.3 52.3 53.5 54.9 56.5 58.7 61.8 62.6 6

 7 FA513170005 Property-casualty insurance companies 11.1 19.0 19.0 19.0 19.0 19.0 3.7 11.9 15.4 7

 8 FA543170005 Life insurance companies 88.1 66.8 66.8 66.8 66.8 66.8 30.6 24.6 35.6 8

 9 FA663170003 Brokers and dealers 2.8 3.9 4.6 -15.1 6.6 19.5 -2.0 -10.7 1.3 9

 10 FA263170005 Rest of the world -0.4 3.4 17.3 -10.8 -0.6 7.7 -23.1 6.2 2.4 10

 11 FA893070005 Net change in trade receivables 41.9 766.1 827.0 767.0 567.8 902.4 937.6 1035.2 -9.8 11

 12 FA163070005 Nonprofit organizations (1) 8.8 8.2 8.2 8.2 8.2 8.2 8.5 8.5 8.5 12

 13 FA103070005 Nonfinancial corporate business -137.0 552.1 587.6 588.3 351.7 680.9 765.3 824.7 -167.1 13

 14 FA113070003 Nonfinancial noncorporate business 47.1 46.6 55.3 40.6 40.4 50.0 43.1 69.3 44.3 14

 15 FA313070000 Federal government 11.3 10.6 29.4 1.3 7.4 4.4 11.7 -15.7 -0.2 15

 16 FA213070003 State and local governments -12.9 32.0 20.2 2.1 42.6 63.0 30.4 47.0 49.7 16

 17 FA513070005 Property-casualty insurance companies 18.1 22.6 39.0 34.7 40.9 -23.9 44.1 37.5 4.3 17

 18 FA543070005 Life insurance companies 22.5 10.1 10.1 10.1 10.1 10.1 11.4 16.1 16.4 18

 19 FA673070003 ABS issuers 0.6 3.0 -3.8 8.4 -4.3 11.8 -8.0 4.3 5.2 19

 20 FA263070005 Rest of the world 83.5 80.8 81.1 73.3 70.7 97.9 31.0 43.7 28.9 20

 21 FA903070005 Discrepancy -33.4 -37.3 -127.6 -162.5 -36.7 177.5 -21.5 -206.2 -11.9 21

(1) Included in the households and nonprofit organizations sector (table F.101).

F.226 Life Insurance Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893140005 Net change in liabilities 100.7 69.1 26.0 82.6 110.7 56.9 16.9 79.6 82.5 1

 2 FA313140003 Federal government 0.2 0.3 1.1 -3.4 3.7 -0.4 0.9 -0.3 1.0 2

 3 FA543140005 Life insurance companies 85.0 48.0 4.1 65.3 86.2 36.6 14.9 75.3 77.4 3

 4 FA263140005 Rest of the world 15.5 20.7 20.7 20.7 20.7 20.7 1.1 4.5 4.1 4

 5 FA893140005 Net change in assets 100.7 69.1 26.0 82.6 110.7 56.9 16.9 79.6 82.5 5

 6 FA153040005 Household sector 94.2 31.0 -7.1 39.1 76.6 15.2 1.3 55.5 58.4 6

 7 FA763040005 U.S.-chartered depository institutions 6.1 13.3 8.3 18.7 9.3 17.0 8.6 7.7 8.8 7

 8 FA543040005 Life insurance companies 5.6 22.2 22.2 22.2 22.2 22.2 3.1 12.4 11.2 8

 9 FA733040005 Holding companies 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 9

 10 FA543141905 Rest of the world -9.1 -1.4 -1.4 -1.4 -1.4 -1.4 0.0 0.0 0.0 10
Transactions

70 Z.1, December 9, 2022

F.227 Pension Entitlements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893150005 Net change in liabilities 587.0 412.0 319.2 341.8 519.1 468.1 426.5 394.0 430.6 1

 2 FA543150005 Life insurance companies (1) 62.4 -46.1 -122.5 -157.2 93.7 1.5 -30.7 45.1 82.0 2

 3 FA574190005 Private pension funds (2) 137.6 75.4 58.2 102.8 54.0 86.7 35.0 -1.5 40.4 3

 4 FA344090005 Federal government retirement funds (3) 96.9 79.8 90.8 97.2 70.2 60.9 158.6 110.5 53.6 4

 5 FA224190005 State and local govt. retirement funds 243.2 260.6 250.3 256.5 258.8 276.5 255.9 231.0 248.5 5

 6 FA263150005 Rest of the world 47.0 42.4 42.4 42.4 42.4 42.4 7.7 8.9 6.1 6

 7 FA893150005 Net change in assets 587.0 412.0 319.2 341.8 519.1 468.1 426.5 394.0 430.6 7

 8 FA153050005 Households (4) 509.0 325.2 232.3 254.9 432.2 381.2 409.4 374.2 417.0 8

 9 FA543050005 Life insurance companies 91.6 88.5 88.5 88.5 88.5 88.5 17.1 19.7 13.6 9

 10 FA543151905 Rest of the world -13.6 -1.6 -1.6 -1.6 -1.6 -1.6 0.0 0.0 0.0 10

 Memo:

 11 FA893131573 Individual Retirement Accounts (IRAs): (5) 161.6 285.5 144.6 379.6 68.5 549.2 16.3 -244.7 ND 11

 12 FA763131573 U.S.-chartered depository institutions 124.2 -8.4 -167.4 92.2 -113.9 155.3 -55.3 230.2 ND 12

 13 FA473131573 Credit unions 2.9 -0.7 1.8 -0.2 -1.1 -3.2 0.5 -0.2 ND 13

 14 FA543131503 Life insurance companies 35.0 15.9 -8.9 26.3 17.5 28.8 -60.4 -97.2 ND 14

 15 FA633131573 Money market funds 77.0 -26.0 -44.0 -60.0 0.0 0.0 56.0 80.0 ND 15

 16 FA653131573 Mutual funds 29.5 164.0 222.7 187.2 93.5 152.5 -99.9 -263.2 ND 16

 17 FA153131575 Other self-directed accounts -107.0 140.7 140.3 134.0 72.5 215.9 175.4 -194.3 ND 17

(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) Includes public and private defined benefit and defined contribution pension plans, and annuities at life insurance companies. Annuities include those held in individual retirement accounts (IRAs). Social security is excluded.

(5) Asset of the household and nonprofit organizations sector (table F.101). Figures for depositories (lines 12 and 13) include Keogh accounts. Variable annuities in IRAs are included

 in the life insurance sector (line 14) and excluded from the money market fund and mutual fund sectors (lines 15 and 16).

F.228 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA893178005 Net change in taxes payable by all 14.1 -28.7 -54.0 -79.7 7.8 11.1 -40.6 -254.4 -143.2 1

 businesses

 2 FA103178005 Nonfinancial corporate business 7.7 -23.9 -43.6 -43.7 -12.4 4.0 164.0 -106.1 -26.0 2

 3 FA113178003 Nonfinancial noncorporate business 13.1 5.0 18.8 -7.8 5.9 3.1 3.8 -73.7 -35.2 3

 4 FA763178000 U.S.-chartered depository institutions -11.2 -8.9 -45.4 -7.5 9.9 7.5 -206.2 -59.2 -72.8 4

 5 FA513178005 Property-casualty insurance companies 0.7 -0.2 6.6 -10.4 -3.2 6.1 4.0 -10.3 -2.1 5

 6 FA543178075 Life insurance companies 1.1 -0.5 4.9 -9.4 -0.3 2.9 -3.6 -4.0 0.3 6

 7 FA613178005 Finance companies 0.1 -0.3 1.7 -2.2 3.5 -4.3 -1.1 -2.1 -6.5 7

 8 FA663178003 Brokers and dealers 3.0 0.5 3.2 2.7 4.4 -8.2 -1.5 2.2 -0.9 8

 9 FA733178013 Holding companies -0.3 -0.3 0.0 -1.3 0.0 0.0 0.0 -1.3 0.0 9

 10 FA893078005 Net change in business taxes receivable 4.5 -131.9 -51.8 -272.5 -170.1 -33.2 10.7 -345.5 -180.9 10

 11 FA313078000 Federal government -12.2 -137.2 -69.9 -260.1 -178.9 -39.7 10.8 -268.3 -149.1 11

 12 FA213078005 State and local governments 16.7 5.3 18.1 -12.4 8.8 6.5 -0.1 -77.2 -31.7 12

 13 FA903078005 Discrepancy 9.6 103.2 -2.2 192.8 177.9 44.3 -51.2 91.2 37.7 13

F.229 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA152090205 Total household investment 53.2 -5.9 -18.2 54.6 9.9 -70.1 -91.7 -31.5 -5.4 1

 2 FA112090205 Nonfinancial noncorporate business 46.3 -21.7 -32.0 37.8 3.3 -96.0 -47.0 -27.3 -19.9 2

 3 FA662090003 Brokers and dealers 6.9 15.8 13.8 16.8 6.6 25.9 -44.7 -4.2 14.4 3
Transactions

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F.230 Direct Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA263192005 U.S. direct investment abroad (1, 2) 232.0 378.7 376.8 557.8 204.7 375.6 331.8 415.8 201.4 1

 Equity:

 2 FA263192101 Liab.: Rest of the world (1) 291.2 426.1 341.1 511.6 280.8 570.7 504.9 308.1 323.5 2

 3 FA263192113 Equity (other than reinvested earnings) 133.4 91.7 54.2 156.4 4.4 152.0 300.8 48.6 82.4 3

 4 FA263192125 Reinvested earnings 157.8 334.3 286.9 355.3 276.4 418.7 204.2 259.5 241.0 4

 5 FA263192193 Of which: Current-cost adjustment 27.5 28.8 28.4 28.7 28.9 29.0 29.4 29.6 29.9 5

 6 FA103092105 Asset: Nonfinancial corporate business 232.9 347.0 268.5 447.5 219.7 452.3 349.2 274.4 234.3 6

 7 FA763092100 U.S.-chartered depository institutions 3.8 11.3 -3.1 35.5 -7.6 20.6 23.5 0.2 13.8 7

 8 FA513092103 Property-casualty insurance companies 21.6 17.7 24.5 5.9 19.9 20.5 18.0 10.1 7.8 8

 9 FA543092173 Life insurance companies -0.5 -0.4 0.5 -1.4 1.6 -2.1 7.2 -6.2 0.6 9

 10 FA613092103 Finance companies 12.3 25.2 64.9 -1.8 17.6 20.0 37.7 24.0 37.5 10

 11 FA663092103 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FA733092103 Holding companies 21.2 25.2 -14.2 25.9 29.6 59.5 69.4 5.6 29.5 12

 Intercompany debt:

 13 FA263192305 Liab.: Rest of the world (1, 2) -59.2 -47.4 35.7 46.2 -76.2 -195.1 -173.2 107.7 -122.0 13

 14 FA263192313 U.S. parents’ claims -55.2 13.1 53.3 177.0 79.3 -257.3 15.5 65.9 -80.5 14

 15 FA263092313 Less: U.S. parents’ liabilities 4.0 60.5 17.6 130.9 155.5 -62.1 188.7 -41.8 41.6 15

 16 FA103092305 Asset: Nonfinancial corporate business -50.2 -39.0 29.4 39.1 -64.9 -159.8 -145.3 100.8 -130.4 16

 17 FA763092305 U.S.-chartered depository institutions -2.3 -1.9 1.2 1.4 -1.1 -9.0 -5.8 1.0 1.7 17

 18 FA513092305 Property-casualty insurance companies -1.3 -1.5 1.2 1.3 -2.3 -6.1 -5.1 1.3 1.5 18

 19 FA543092375 Life insurance companies -0.7 -0.6 0.2 0.2 -0.9 -1.8 -1.4 0.4 0.6 19

 20 FA613092305 Finance companies -2.7 -2.1 2.1 1.8 -3.4 -8.9 -7.4 1.9 2.3 20

 21 FA663092305 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FA733092305 Holding companies -2.0 -2.3 1.5 2.3 -3.5 -9.5 -8.3 2.2 2.3 22

 23 FA263092001 Foreign direct investment in U.S. (1) 109.1 405.3 313.5 302.9 499.8 505.0 298.3 287.4 357.8 23

 Equity:

 24 FA103192105 Liab.: Nonfinancial corporate business 157.4 360.5 287.5 345.1 384.6 424.7 287.7 218.9 300.5 24

 25 FA115114103 Nonfinancial noncorporate business 1.4 0.2 -1.9 7.1 -3.5 -1.0 1.6 -0.8 2.9 25

 26 FA753192103 Foreign banking offices in U.S. 7.9 -1.7 -1.1 -28.1 17.6 5.0 -0.2 8.8 -1.3 26

 27 FA513192103 Property-casualty insurance companies -3.1 6.0 -1.4 10.6 6.9 8.1 9.1 13.3 13.6 27

 28 FA543192173 Life insurance companies 3.3 1.0 -2.3 15.7 -5.1 -4.5 -2.5 7.9 9.1 28

 29 FA613192103 Finance companies 3.5 6.9 3.8 11.6 6.6 5.8 5.5 6.8 6.5 29

 30 FA663192103 Brokers and dealers 21.8 41.8 7.1 54.4 52.2 53.4 -27.8 -81.2 -0.2 30

 31 FA733192103 Holding companies -24.4 -33.9 2.6 -62.7 7.7 -83.2 23.6 131.9 31.5 31

 32 FA503192103 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 FA263092101 Asset: Rest of the world (1) 167.8 380.8 294.2 353.7 466.9 408.3 297.0 305.5 362.6 33

 34 FA263092113 Equity (other than reinvested earnings) 87.5 168.9 127.8 129.7 235.8 182.2 97.2 74.3 121.3 34

 35 FA263092125 Reinvested earnings 80.3 211.9 166.4 224.0 231.1 226.1 199.7 231.2 241.2 35

 36 FA263092193 Of which: Current-cost adjustment 14.1 16.1 15.4 16.0 16.4 16.6 16.5 16.5 16.5 36

 Intercompany debt:

 37 FA103192305 Liab.: Nonfinancial corporate business -63.8 19.7 21.0 -60.6 64.2 54.2 0.3 22.7 37.0 37

 38 FA115114305 Nonfinancial noncorporate business -1.0 -0.1 -0.3 -0.2 -0.4 0.6 -0.1 -0.6 -1.1 38

 39 FA753192305 Foreign banking offices in U.S. -2.3 -1.9 -1.8 -7.2 0.1 1.5 -0.9 -0.8 -1.9 39

 40 FA513192305 Property-casualty insurance companies -0.9 -0.2 -1.0 -1.4 -0.1 1.6 0.3 0.2 0.2 40

 41 FA543192375 Life insurance companies 0.3 -0.4 -0.7 -0.8 -0.9 0.9 -0.8 -0.4 -1.8 41

 42 FA613192305 Finance companies -0.8 0.5 0.2 -0.2 0.4 1.4 0.1 -0.1 -1.1 42

 43 FA663192305 Brokers and dealers 0.6 1.8 0.3 0.3 2.6 4.0 -1.8 -4.0 -2.2 43

 44 FA733192305 Holding companies 9.1 5.1 1.6 19.5 -33.2 32.5 4.4 -35.0 -33.8 44

 45 FA503192305 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 FA263092303 Asset: Rest of the world (1) -58.7 24.5 19.3 -50.8 32.8 96.7 1.4 -18.1 -4.8 46

 47 FA263092323 U.S. affiliates’ liabilities -22.9 7.1 -20.8 -17.3 23.5 42.9 17.0 4.4 19.8 47

 48 FA263192323 Less: U.S. affiliates’ claims 35.7 -17.4 -40.1 33.5 -9.4 -53.8 15.6 22.5 24.6 48

(1) Direct investment is presented on a directional basis and reported at market value.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
Transactions

72 Z.1, December 9, 2022

F.231 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893190005 Net change in liabilities 644.9 712.5 1285.6 559.5 1351.8 -347.0 1170.3 -149.9 1420.7 1

 2 FA543077073 Household sector 0.1 1.5 8.5 -3.3 -0.1 0.8 7.0 -3.2 0.1 2

 3 FA103190005 Nonfinancial corporate business -660.0 22.2 -202.1 68.8 8.3 213.8 253.9 360.9 -65.1 3

 4 FA113193003 Nonfinancial noncorporate business 92.5 75.5 39.9 95.8 96.2 70.2 75.9 50.5 19.1 4

 5 FA313190005 Federal government 392.3 -379.8 -358.0 -356.5 -122.3 -682.3 -303.3 -264.6 -18.7 5

 6 FA223073045 State and local governments 255.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 6

 7 FA713190005 Monetary authority 4.0 1.3 -110.6 -170.6 194.7 91.6 -86.2 -221.9 253.4 7

 8 FA763190005 U.S.-chartered depository institutions -112.2 192.3 346.2 293.1 160.6 -30.7 -99.4 -410.7 25.1 8

 9 FA753190005 Foreign banking offices in U.S. -11.2 34.6 184.1 -66.8 31.4 -10.4 122.3 -40.9 149.3 9

 10 FA743193005 Banks in U.S.-affiliated areas 0.2 -1.1 -2.2 -1.2 -0.2 -0.8 -0.3 0.2 -0.6 10

 11 FA473193005 Credit unions 3.8 5.0 28.5 -0.0 -11.2 2.8 39.4 2.7 11.6 11

 12 FA513190005 Property-casualty insurance companies 76.0 144.0 198.3 160.1 253.8 -36.0 193.5 125.0 238.4 12

 13 FA543190005 Life insurance companies 161.9 73.5 15.5 80.3 64.7 133.6 147.0 94.6 161.0 13

 14 FA403190005 Government-sponsored enterprises 5.9 -6.4 -68.8 -53.6 78.8 18.2 -37.1 5.2 126.0 14

 15 FA613190005 Finance companies 17.1 -19.2 62.1 -65.0 54.7 -128.5 0.1 -8.4 -181.1 15

 16 FA643193005 REITs 13.4 2.0 18.5 3.5 -10.3 -3.6 2.6 14.9 57.6 16

 17 FA663190005 Brokers and dealers 56.9 155.0 817.0 119.3 62.8 -379.2 331.0 -429.9 -122.1 17

 18 FA733190005 Holding companies 33.0 29.8 -0.4 -32.3 137.6 14.4 180.9 140.6 272.2 18

 19 FA503190005 Other financial business 303.7 118.1 71.7 211.7 64.0 124.9 9.1 181.6 220.5 19

 20 FA263190005 Rest of the world 12.3 11.1 -15.5 23.3 35.3 1.2 80.7 0.3 20.9 20

 21 FA893090005 Net change in assets 1175.7 1223.9 1026.8 1172.1 2168.6 528.2 1770.4 1252.7 2104.5 21

 22 FA153090005 Household sector 79.9 53.5 56.8 35.0 106.1 16.2 49.2 90.4 131.3 22

 23 FA103090005 Nonfinancial corporate business -228.8 326.3 137.0 -276.9 811.3 633.8 437.5 1097.7 1555.3 23

 24 FA113090005 Nonfinancial noncorporate business 275.9 60.4 150.4 96.8 -10.7 4.9 86.9 223.5 254.1 24

 25 FA313090005 Federal government 122.0 -84.1 -235.7 -38.1 -48.8 -13.7 7.7 -3.2 10.8 25

 26 FA213093003 State and local governments 18.1 65.1 96.1 80.0 37.2 47.2 -1.5 9.0 38.0 26

 27 FA713090005 Monetary authority 25.0 -15.3 -70.1 -5.2 0.8 13.3 -13.3 0.1 -5.4 27

 28 FA763090005 U.S.-chartered depository institutions 149.7 118.3 362.1 113.3 210.3 -212.6 489.7 248.3 117.0 28

 29 FA753093005 Foreign banking offices in U.S. -6.1 27.1 22.3 40.8 -28.5 73.8 18.0 1.8 57.0 29

 30 FA743093005 Banks in U.S.-affiliated areas -5.1 -5.1 35.2 1.7 -43.8 -13.3 -3.0 -7.9 28.2 30

 31 FA473090005 Credit unions 32.6 6.0 -58.0 58.6 16.8 6.6 29.3 -89.3 -45.3 31

 32 FA513090005 Property-casualty insurance companies 15.3 -57.9 -119.1 27.6 -81.1 -59.0 186.2 187.9 235.9 32

 33 FA543090005 Life insurance companies 115.7 80.0 76.4 125.8 40.0 78.0 66.2 148.7 103.1 33

 34 FA573090005 Private pension funds 91.7 141.5 88.0 191.5 133.1 153.3 82.8 107.2 140.4 34

 35 FA343073045 Federal government retirement funds -27.3 -90.1 -77.0 -157.7 215.3 -340.8 -118.6 -187.9 -11.1 35

 36 FA223090005 State and local govt. retirement funds 183.7 338.0 207.2 204.1 396.9 543.8 50.1 443.4 354.0 36

 37 FA633093005 Money market funds -8.6 -10.0 -130.2 -76.6 343.6 -177.0 143.1 35.9 -102.6 37

 38 FA653093005 Mutual funds -56.1 -147.9 -464.2 -46.9 -291.2 210.9 -426.3 -4.5 -65.0 38

 39 FA563093003 Exchange-traded funds 41.1 -3.8 -16.8 18.4 -16.5 -0.3 69.5 -10.7 -42.4 39

 40 FA403093005 Government-sponsored enterprises 62.3 -30.5 38.3 -98.5 -4.4 -57.3 -55.0 -97.8 -29.2 40

 41 FA673090543 ABS issuers 23.2 40.5 44.4 61.7 42.9 12.9 58.0 8.4 -3.0 41

 42 FA613090005 Finance companies 12.9 -63.4 -44.4 -16.1 -78.9 -114.3 17.8 4.8 -16.9 42

 43 FA643090005 REITs 11.6 24.5 40.4 20.2 -2.0 39.5 2.8 -22.4 -26.9 43

 44 FA663090005 Brokers and dealers 155.7 261.2 634.6 496.2 167.7 -253.5 455.5 -685.5 -512.1 44

 45 FA733090005 Holding companies 102.5 168.5 101.8 387.8 203.9 -19.6 -34.2 -127.6 -184.8 45

 46 FA503090005 Other financial business -27.2 17.2 170.6 -56.1 22.8 -68.7 95.8 -107.4 49.0 46

 47 FA263090005 Rest of the world 16.0 3.8 -19.3 -15.4 25.8 24.3 76.2 -10.1 75.2 47

 48 FA903090005 Discrepancy -530.8 -511.4 258.9 -612.6 -816.8 -875.2 -600.2 -1402.6 -683.9 48
Transactions

Z.1, December 9, 2022 73

F.232 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Federal government equity in IBRD, etc.:

 1 FA313092803 Liab.: Rest of the world 1.8 1.2 4.7 0.0 0.1 0.0 0.0 0.0 -0.1 1

 2 FA313092803 Asset: Federal government 1.8 1.2 4.7 0.0 0.1 0.0 0.0 0.0 -0.1 2

 Federal Reserve Bank stock:

 3 FA713164003 Liab.: Monetary authority 0.7 1.5 0.4 1.4 1.1 3.2 1.8 2.4 0.6 3

 4 FA713164003 Asset: U.S.-chartered depository institutions 0.7 1.5 0.4 1.4 1.1 3.2 1.8 2.4 0.6 4

 Equity in govt.-sponsored enterprises:

 5 FA403192405 Liab.: Government-sponsored enterprises -6.8 -0.9 -2.3 -1.3 -3.5 3.4 5.8 24.6 23.3 5

 6 FA103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.1 0.2 0.5 -0.1 -0.3 0.5 1.4 -0.6 -0.2 6

 7 FA113092405 Nonfinancial noncorporate (FCS) 0.2 1.3 0.1 2.2 0.8 1.9 0.2 0.3 3.6 7

 8 FA313092403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA763092405 U.S.-chartered depository institutions (FHLB) -9.6 -3.9 -5.6 -4.4 -4.6 -0.9 2.2 24.4 20.6 9

 10 FA473092403 Credit unions (FHLB) -0.1 0.4 -0.2 0.6 0.6 0.7 0.1 3.1 2.1 10

 11 FA513092403 Property-casualty insurance companies (FHLB) 0.5 -0.2 -0.1 -0.2 -0.2 -0.1 -0.3 -0.4 -0.3 11

 12 FA543092473 Life insurance companies (FHLB) 2.5 1.3 3.1 0.6 0.2 1.3 2.2 -2.2 -2.4 12

 13 FA613092403 Finance companies -0.0 -0.0 -0.1 0.0 0.0 0.0 0.0 -0.0 -0.0 13

 14 FA643092473 Real estate investment trusts (FHLB) -0.5 0.0 0.0 0.0 -0.0 0.0 -0.0 -0.0 -0.0 14

 Holding company equity investment in affiliates:

 15 FA763194603 Liab.: U.S.-chartered depository institutions 106.9 123.4 83.9 213.7 103.2 93.0 -261.3 -254.8 -218.5 15

 16 FA513194603 Property-casualty insurance companies -1.4 1.1 -0.6 5.0 1.1 -1.1 2.3 1.0 0.3 16

 17 FA543194603 Life insurance companies -5.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FA663194605 Brokers and dealers 6.5 -40.5 20.1 -34.5 -6.4 -141.1 9.4 314.3 158.2 18

 19 FA733094635 Asset: Holding companies 106.3 84.1 103.4 184.2 97.8 -49.2 -249.6 60.5 -60.0 19

 Holding company other investment in affiliates:

 20 FA763194705 Liab.: U.S.-chartered depository institutions -39.4 24.0 19.9 32.2 40.3 3.7 -59.6 24.0 -10.5 20

 21 FA513194703 Property-casualty insurance companies -2.5 -0.2 3.5 -1.9 -1.1 -1.1 -1.1 -0.0 0.0 21

 22 FA543194703 Life insurance companies -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FA613194733 Finance companies -2.0 1.8 -2.3 -3.0 11.9 0.6 0.3 -1.2 -2.4 23

 24 FA663194705 Brokers and dealers 49.8 54.2 -52.5 155.7 45.1 68.5 173.9 -183.2 -115.7 24

 25 FA263194735 Rest of the world -6.2 6.0 22.8 12.6 17.7 -29.3 85.6 -20.1 -5.4 25

 26 FA733094735 Asset: Holding companies -0.5 85.8 -8.5 195.7 113.8 42.4 199.1 -180.6 -133.9 26

 Holding company balances due to affiliates:

 27 FA733194735 Liab.: Holding companies 42.9 33.5 9.7 -8.6 101.3 31.7 203.8 101.5 224.5 27

 28 FA763094703 Asset: U.S.-chartered depository institutions 4.4 -4.3 5.8 -8.5 -15.2 0.8 -2.0 -0.1 10.4 28

 29 FA513094703 Property-casualty insurance companies 0.0 0.4 0.0 0.0 0.0 1.6 -1.6 0.8 4.2 29

 30 FA543094703 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FA663094705 Brokers and dealers 20.3 39.5 29.3 21.2 96.6 10.9 133.4 117.9 143.7 31

 32 FA263094733 Rest of the world 18.1 -2.1 -25.3 -21.4 19.8 18.3 74.0 -17.2 66.1 32

 NFC other investment in finance company affiliates:

 33 FA103094705 Liab.: Finance companies -3.0 -14.9 -0.4 -39.2 -23.4 3.4 -8.8 8.1 -13.1 33

 34 FA103094705 Asset: Nonfinancial corporate business -3.0 -14.9 -0.4 -39.2 -23.4 3.4 -8.8 8.1 -13.1 34

 Other financial business investment in affiliates:

 35 FA753194503 Liab.: Foreign banking offices in U.S. -27.6 16.6 169.2 -69.8 36.0 -69.0 94.7 -106.6 44.1 35

 36 FA663194505 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FA503094505 Asset: Other financial business -27.6 16.6 169.2 -69.8 36.0 -69.0 94.7 -106.6 44.1 37

 Equity investment under Public-Private Inv. Program:

 38 FA503194305 Liab.: Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 FA153094305 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 FA313094303 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 Federal gov’t investment in Federal Reserve facilities:

 41 FA313094213 Liab.: Monetary authority 1.5 -1.5 0.0 -6.0 0.0 0.0 0.0 0.0 0.0 41

 42 FA503194205 Other financial business 112.5 -91.2 -248.9 -40.0 -53.7 -22.4 -0.0 -13.3 0.0 42

 43 FA313094205 Asset: Federal government 114.0 -92.7 -248.9 -46.0 -53.7 -22.4 -0.0 -13.3 0.0 43

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
Transactions

74 Z.1, December 9, 2022

F.233 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Nonofficial foreign currencies:

 1 FA263191103 Liab.: Rest of the world 14.2 -14.5 -61.5 -7.8 -1.0 12.0 -11.9 -0.1 -0.2 1

 2 FA313091105 Asset: Federal government 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 2

 3 FA713091103 Monetary authority (1) 14.2 -14.5 -61.5 -7.8 -1.0 12.0 -11.9 -0.1 -0.2 3

 Postal Savings System deposits:

 4 FA313131003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA313131003 Asset: Household sector 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 FA403197033 Liab.: Government-sponsored enterprises 4.9 -1.0 9.2 -8.3 -0.1 -5.0 -0.8 -3.2 -5.2 6

 7 FA403197033 Asset: U.S.-chartered depository institutions 4.9 -1.0 9.2 -8.3 -0.1 -5.0 -0.8 -3.2 -5.2 7

 Paycheck Protection Program subsidies payable:

 8 FA313172003 Liab.: Federal government 415.2 -308.9 -273.8 -232.9 -361.9 -366.9 -208.5 -111.9 -52.3 8

 9 FA163072003 Asset: Nonprofit organizations 34.1 -23.9 -19.9 -29.8 -26.1 -19.8 -13.7 -7.6 -3.8 9

 10 FA103072005 Nonfinancial corporate business 244.4 -171.8 -172.1 -157.7 -175.6 -181.7 -106.4 -98.9 -48.5 10

 11 FA113072003 Nonfinancial noncorporate business 134.8 -111.3 -79.8 -42.8 -157.9 -164.7 -88.3 -5.4 0.0 11

 12 FA613072003 Finance companies 1.9 -1.9 -1.9 -2.7 -2.2 -0.6 0.0 0.0 0.0 12

 Funding agreements backing securities:

 13 FA673090543 Liab.: Life insurance companies (2) 23.2 40.5 44.4 61.7 42.9 12.9 58.0 8.4 -3.0 13

 14 FA673090543 Asset: ABS issuers 23.2 40.5 44.4 61.7 42.9 12.9 58.0 8.4 -3.0 14

 Deferred and unpaid life insurance premiums:

 15 FA543077073 Liab.: Household sector 0.1 1.5 8.5 -3.3 -0.1 0.8 7.0 -3.2 0.1 15

 16 FA543077073 Asset: Life insurance companies 0.1 1.5 8.5 -3.3 -0.1 0.8 7.0 -3.2 0.1 16

 Life insurance company reserves:

 17 FA543195005 Liab.: Life insurance companies 19.2 17.0 13.9 6.1 25.1 22.9 20.0 -0.4 17.0 17

 18 FA263195105 Rest of the world 5.8 2.2 2.2 2.2 2.2 2.2 1.0 0.9 1.3 18

 19 FA153095105 Asset: Household sector 16.2 15.1 12.0 4.2 23.2 21.1 17.7 -2.6 13.8 19

 20 FA543095105 Life insurance companies 8.8 4.1 4.1 4.1 4.1 4.1 3.4 3.1 4.6 20

 Policy payables:

 21 FA513176005 Liab.: Property-casualty insurance companies 55.2 111.2 126.5 105.6 196.7 16.0 50.5 163.9 211.1 21

 22 FA263176005 Rest of the world -3.3 16.2 16.2 16.2 16.2 16.2 6.0 19.6 25.2 22

 23 FA153076005 Asset: Household sector 21.3 40.9 50.2 37.0 82.6 -6.5 17.2 64.7 89.3 23

 24 FA103076005 Nonfinancial corporate business 22.0 36.0 41.9 34.0 70.4 -2.1 16.4 51.0 64.0 24

 25 FA113076005 Nonfinancial noncorporate business 6.9 17.2 17.2 17.4 26.6 7.5 9.0 22.5 24.8 25

 26 FA513076005 Property-casualty insurance companies 3.8 27.4 27.4 27.4 27.4 27.4 11.7 38.1 49.1 26

 27 FA263076005 Rest of the world -2.1 6.0 6.0 6.0 6.0 6.0 2.2 7.1 9.1 27

 Unallocated insurance company contracts:

 28 FA593095005 Liab.: Life insurance companies 34.4 22.7 1.8 39.9 18.6 30.4 3.7 -1.4 11.7 28

 29 FA573095005 Asset: Private pension funds 26.7 10.0 -5.4 24.1 9.9 11.6 -12.9 -10.0 1.4 29

 30 FA223095505 State and local government retirement funds 7.7 12.6 7.2 15.8 8.7 18.9 16.6 8.7 10.3 30

 Pension fund contributions payable:

 31 FA573074005 Liab.: Nonfinancial corporate business -2.4 -2.8 -2.5 -2.5 -3.0 -3.3 -2.7 -2.6 -3.4 31

 32 FA573074005 Asset: Private pension funds -2.4 -2.8 -2.5 -2.5 -3.0 -3.3 -2.7 -2.6 -3.4 32

 Securities brokers and dealers payables:

 33 FA663170605 Liab.: Brokers and dealers 49.2 134.2 644.1 43.8 180.1 -331.0 287.3 -271.4 -70.5 33

 34 FA663070675 Other financial business -1.3 56.4 -63.2 289.1 172.2 -172.6 330.1 -21.7 -278.0 34

 35 FA663070605 Asset: Brokers and dealers 47.8 190.6 580.9 332.9 352.3 -503.6 617.4 -293.1 -348.5 35

 Retiree health care funds:

 36 FA313195105 Liab.: Federal government (3) 8.2 21.4 14.5 23.6 26.3 21.4 28.1 36.0 32.1 36

 37 FA313195105 Asset: Household sector 8.2 21.4 14.5 23.6 26.3 21.4 28.1 36.0 32.1 37

 Claims of pension fund on sponsor:

 38 FA573073005 Liab.: Nonfinancial corporate business -6.7 26.1 17.9 31.5 25.8 29.2 13.7 10.6 29.5 38

 39 FA343073045 Federal government -27.3 -90.1 -77.0 -157.7 215.3 -340.8 -118.6 -187.9 -11.1 39

 40 FA223073045 State and local governments 255.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 40

 41 FA573073005 Asset: Private pension funds -6.7 26.1 17.9 31.5 25.8 29.2 13.7 10.6 29.5 41

 42 FA343073045 Federal government retirement funds -27.3 -90.1 -77.0 -157.7 215.3 -340.8 -118.6 -187.9 -11.1 42

 43 FA223073045 State and local govt. retirement funds 255.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 253.1 43

(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.133 and F.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
Transactions

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F.234 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA893193005 Net change in liabilities -426.6 313.0 583.9 -117.3 273.7 511.7 207.5 64.9 1177.9 1

 2 FA103193005 Nonfinancial corporate business -650.9 -1.1 -217.5 39.8 -14.5 187.9 242.9 352.9 -91.2 2

 3 FA113193003 Nonfinancial noncorporate business 92.5 75.5 39.9 95.8 96.2 70.2 75.9 50.5 19.1 3

 4 FA313193005 Federal government -3.8 -2.3 -21.6 10.6 -2.0 3.9 -4.2 -0.7 12.6 4

 5 FA713193005 Monetary authority 1.8 1.3 -111.0 -166.0 193.7 88.4 -88.0 -224.3 252.8 5

 6 FA763193005 U.S.-chartered depository institutions -179.7 44.8 242.3 47.3 17.1 -127.4 221.5 -179.8 254.0 6

 7 FA753193005 Foreign banking offices in U.S. 16.4 18.0 14.9 3.0 -4.5 58.6 27.7 65.7 105.2 7

 8 FA743193005 Banks in U.S.-affiliated areas 0.2 -1.1 -2.2 -1.2 -0.2 -0.8 -0.3 0.2 -0.6 8

 9 FA473193005 Credit unions 3.8 5.0 28.5 -0.0 -11.2 2.8 39.4 2.7 11.6 9

 10 FA513193005 Property-casualty insurance companies 24.7 31.9 68.9 51.3 57.1 -49.8 141.8 -39.8 27.0 10

 11 FA543193005 Life insurance companies 91.0 -6.7 -44.7 -27.4 -21.9 67.3 65.2 88.0 135.3 11

 12 FA403193005 Government-sponsored enterprises 7.8 -4.4 -75.8 -44.1 82.4 19.8 -42.2 -16.2 108.0 12

 13 FA613193005 Finance companies 22.0 -6.1 64.7 -22.9 66.1 -132.6 8.6 -15.3 -165.7 13

 14 FA643193005 REITs 13.4 2.0 18.5 3.5 -10.3 -3.6 2.6 14.9 57.6 14

 15 FA663193005 Brokers and dealers -48.6 7.0 205.3 -45.7 -156.0 24.4 -139.5 -289.6 -94.2 15

 16 FA733193005 Holding companies -9.9 -3.7 -10.1 -23.7 36.3 -17.3 -22.9 39.1 47.7 16

 17 FA503193005 Other financial business 192.6 152.9 383.8 -37.4 -54.5 319.9 -321.0 216.5 498.5 17

 18 FA893093005 Net change in assets 104.2 824.5 325.0 495.4 1090.5 1387.0 807.6 1467.5 1861.7 18

 19 FA103093005 Nonfinancial corporate business -492.2 476.8 267.0 -113.9 940.3 813.7 535.0 1138.2 1553.0 19

 20 FA113093005 Nonfinancial noncorporate business 134.0 153.2 212.9 120.0 119.8 160.2 166.1 206.1 225.8 20

 21 FA313093003 Federal government 6.1 7.5 8.5 7.9 4.8 8.7 7.7 10.0 10.8 21

 22 FA213093003 State and local governments 18.1 65.1 96.1 80.0 37.2 47.2 -1.5 9.0 38.0 22

 23 FA713093005 Monetary authority 10.8 -0.8 -8.6 2.5 1.7 1.3 -1.4 0.2 -5.2 23

 24 FA763093005 U.S.-chartered depository institutions 149.3 125.9 352.4 133.1 229.1 -210.7 488.5 224.8 90.7 24

 25 FA753093005 Foreign banking offices in U.S. -6.1 27.1 22.3 40.8 -28.5 73.8 18.0 1.8 57.0 25

 26 FA743093005 Banks in U.S.-affiliated areas -5.1 -5.1 35.2 1.7 -43.8 -13.3 -3.0 -7.9 28.2 26

 27 FA473093005 Credit unions 32.7 5.6 -57.8 58.0 16.2 5.9 29.2 -92.5 -47.4 27

 28 FA513093005 Property-casualty insurance companies 10.9 -85.5 -146.4 0.4 -108.2 -87.9 176.4 149.3 182.9 28

 29 FA543093005 Life insurance companies 104.2 73.1 60.7 124.4 35.7 71.7 53.6 151.0 100.9 29

 30 FA573093005 Private pension funds 74.1 108.2 78.1 138.4 100.4 115.8 84.8 109.2 112.9 30

 31 FA223093005 State and local govt. retirement funds -79.1 72.2 -53.2 -64.9 135.1 271.8 -219.7 181.6 90.6 31

 32 FA633093005 Money market funds (net) -8.6 -10.0 -130.2 -76.6 343.6 -177.0 143.1 35.9 -102.6 32

 33 FA653093005 Mutual funds -56.1 -147.9 -464.2 -46.9 -291.2 210.9 -426.3 -4.5 -65.0 33

 34 FA563093003 Exchange-traded funds 41.1 -3.8 -16.8 18.4 -16.5 -0.3 69.5 -10.7 -42.4 34

 35 FA403093005 Government-sponsored enterprises 62.3 -30.5 38.3 -98.5 -4.4 -57.3 -55.0 -97.8 -29.2 35

 36 FA613093005 Finance companies 11.1 -61.5 -42.3 -13.4 -76.7 -113.6 17.8 4.8 -16.9 36

 37 FA643093005 REITs 12.1 24.5 40.4 20.2 -2.0 39.5 2.8 -22.4 -26.9 37

 38 FA663093005 Brokers and dealers 87.6 31.1 24.4 142.2 -281.2 239.2 -295.3 -510.4 -307.3 38

 39 FA733093005 Holding companies -3.3 -1.4 6.9 7.8 -7.7 -12.8 16.3 -7.5 9.1 39

 40 FA503093023 Other financial business 0.3 0.6 1.4 13.7 -13.2 0.4 1.1 -0.8 4.9 40

 41 FA903090005 Discrepancy -530.8 -511.4 258.9 -612.6 -816.8 -875.2 -600.2 -1402.6 -683.9 41
Transactions

76 Z.1, December 9, 2022

F.7 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA897005005 All sectors -191.9 -47.6 496.1 46.0 -508.4 -224.2 -544.3 -634.6 -927.9 1

 2 FA157005005 Household sector -326.1 223.8 2368.7 -781.6 -175.3 -516.7 -499.1 161.0 320.0 2

 3 FA107005005 Nonfinancial corporate business 2.5 26.8 80.3 242.3 -30.9 -184.3 26.4 10.7 -82.6 3

 4 FA317005005 Federal government 227.1 -262.5 -1263.4 137.9 161.3 -85.7 234.8 -551.1 609.2 4

 5 FA217005005 State and local governments -16.6 -2.4 -4.1 79.1 -15.2 -69.4 -95.1 49.5 -85.4 5

 6 FA797005005 Domestic financial sectors -159.3 -373.0 -900.7 -136.0 -501.7 46.3 -973.5 -910.7 -928.6 6

 7 FA717005005 Monetary authority 2.5 3.5 -1.0 4.4 6.0 4.8 4.3 3.4 5.5 7

 8 FA767005005 U.S.-chartered depository institutions -295.0 -248.4 -548.6 127.2 -464.9 -107.1 -513.3 -617.1 -499.5 8

 9 FA757005005 Foreign banking officed in U.S. 72.3 -125.8 -73.9 -267.7 -151.6 -9.8 72.5 -26.1 -143.3 9

 10 FA747005005 Banks in U.S.-affiliated areas 2.3 -1.7 -7.9 4.2 -1.8 -1.1 -10.5 -8.7 -12.2 10

 11 FA477005005 Credit unions -7.5 -16.8 -21.6 9.1 -32.9 -21.7 -50.9 -26.9 -35.0 11

 12 FA517005005 Property-casualty insurance companies 25.3 75.9 163.2 24.3 94.9 21.3 -116.4 -160.7 -252.7 12

 13 FA547005005 Life insurance companies 5.5 -89.4 -145.4 -101.1 -46.0 -65.1 -122.2 -110.7 -85.7 13

 14 FA657005005 Mutual funds -36.1 28.5 25.7 27.7 23.1 37.4 45.0 35.0 35.0 14

 15 FA407005005 Government-sponsored enterprises 45.6 -57.6 -260.2 -56.4 98.4 -12.3 -261.2 -157.9 69.1 15

 16 FA677005005 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FA617005005 Finance companies 50.2 69.7 3.6 138.2 52.1 85.0 0.3 55.7 -43.3 17

 18 FA647005005 REITs 31.9 30.4 -3.6 43.2 -17.5 99.4 -72.4 80.5 -25.4 18

 19 FA667005005 Brokers and dealers 1.9 16.6 -33.1 35.9 30.8 32.8 -37.7 -89.9 -13.0 19

 20 FA737005005 Holding companies -58.2 -58.1 2.2 -125.0 -92.2 -17.2 89.2 112.6 71.8 20

 21 FA267005005 Rest of the world 80.5 339.6 215.3 504.3 53.3 585.5 762.2 605.9 -760.5 21

F.8 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 FA907005005 All types -191.9 -47.6 496.1 46.0 -508.4 -224.2 -544.3 -634.6 -927.9 1

 2 FA903012005 Treasury currency -0.4 -0.5 -0.3 -0.2 -0.8 -0.6 -0.6 -0.7 -2.4 2

 3 FA903091005 Foreign deposits 104.1 27.1 -14.0 -122.0 17.8 226.4 29.7 133.4 57.0 3

 4 FA904010005 Net interbank transactions 10.4 17.1 359.4 -383.3 92.3 0.1 330.3 -466.8 74.3 4

 5 FA902050005 Security repurchase agreements 39.1 230.1 -127.7 1009.7 51.0 -12.6 -357.5 791.3 -356.9 5

 6 FA903020005 Mail floats -0.5 0.6 -78.9 105.2 -121.1 97.4 -144.5 162.4 -144.1 6

 7 FA903023005 Federal government -0.7 1.3 -80.2 105.7 -120.7 100.5 -150.4 162.9 -141.9 7

 8 FA903028003 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA903029200 Private domestic 0.2 -0.7 1.2 -0.5 -0.4 -3.1 5.8 -0.4 -2.2 9

 10 FA903070005 Trade credit -33.4 -37.3 -127.6 -162.5 -36.7 177.5 -21.5 -206.2 -11.9 10

 11 FA903078005 Taxes payable 9.6 103.2 -2.2 192.8 177.9 44.3 -51.2 91.2 37.7 11

 12 FA903090005 Miscellaneous -530.8 -511.4 258.9 -612.6 -816.8 -875.2 -600.2 -1402.6 -683.9 12

 13 FA906000105 Nonfinancial 210.0 123.5 228.6 18.9 128.0 118.5 271.2 263.4 102.2 13

 Nonfinancial components (sign reversed):

 14 FA087005005 Statistical discrepancy (NIPA) -214.9 -128.9 -233.8 -24.3 -133.5 -124.2 -277.0 -269.3 -108.2 14

 15 FA156600075 Contr. for govt. soc. insur., U.S. affiliated areas 5.0 5.4 5.2 5.3 5.5 5.7 5.8 5.9 6.0 15
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L.100 Domestic Nonfinancial Sectors (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL384090005 Total financial assets 143168.7 158303.0 146786.8 151698.3 153535.6 158303.0 157016.8 149485.9 148237.7 1

 2 FL313011005 U.S. official reserve assets 111.7 219.9 107.0 108.1 218.7 219.9 217.6 209.5 202.3 2

 3 FL383091005 Foreign deposits 183.5 207.0 210.8 242.2 207.7 207.0 234.6 205.7 203.7 3

 4 FL383020005 Checkable deposits and currency 7278.2 7389.5 7063.1 7208.3 6872.6 7389.5 7849.2 8204.2 8152.9 4

 5 FL383030005 Time and savings deposits 12279.8 13141.3 12806.4 12632.2 12808.8 13141.3 13214.8 12741.3 12396.6 5

 6 FL383034005 Money market fund shares 3571.1 3791.2 3701.5 3701.7 3647.1 3791.2 3682.6 3680.8 3739.1 6

 7 FL382051005 Security repurchase agreements 216.2 214.4 204.0 220.5 213.8 214.4 219.5 217.0 217.2 7

 8 FL384022005 Debt securities 6282.1 5500.4 5579.7 5678.8 5860.8 5500.4 5843.4 6282.6 6938.2 8

 9 FL383069105 Open market paper 328.0 334.1 313.7 348.2 330.2 334.1 311.1 328.6 294.2 9

 10 FL383061105 Treasury securities 2631.3 2193.7 2294.1 2253.4 2488.9 2193.7 2653.7 2924.1 3439.2 10

 11 FL383061705 Agency- and GSE-backed securities 728.7 699.1 622.1 729.0 662.1 699.1 787.3 995.6 1250.6 11

 12 FL383062005 Municipal securities 1968.8 1849.3 1929.6 1925.8 1874.4 1849.3 1693.2 1653.8 1586.8 12

 13 FL383063005 Corporate and foreign bonds 625.2 424.2 420.3 422.4 505.2 424.2 398.1 380.5 367.4 13

 14 FL384023005 Loans 3579.0 3869.8 3633.7 3668.1 3800.2 3869.8 4070.4 4056.7 4067.7 14

 15 FL383069005 Other loans and advances 1569.6 1776.6 1588.6 1613.5 1714.9 1776.6 1953.9 1931.0 1905.9 15

 16 FL383065005 Mortgages 568.5 598.6 576.5 582.8 591.1 598.6 604.9 612.3 621.4 16

 17 FL383066005 Consumer credit 1440.9 1494.6 1468.6 1471.9 1494.2 1494.6 1511.6 1513.4 1540.4 17

 18 LM383064105 Corporate equities 28949.3 35404.7 31133.6 33653.8 33905.7 35404.7 33810.6 28129.1 26866.9 18

 19 LM383064205 Mutual fund shares 11449.6 13330.4 11932.1 12577.8 12556.3 13330.4 12325.5 10442.6 9757.8 19

 20 FL383070005 Trade receivables 5331.1 5980.6 5511.3 5670.1 5783.0 5980.6 6204.4 6426.5 6410.6 20

 21 FL153040005 Life insurance reserves 1867.0 1944.9 1872.8 1910.3 1926.9 1944.9 1919.6 1887.5 1885.6 21

 22 FL153050005 Pension entitlements 29794.3 31677.5 30199.0 30957.3 31025.1 31677.5 31094.5 29762.3 29403.6 22

 23 FL383078005 Taxes payable 631.6 674.8 672.8 576.2 708.7 674.8 728.3 599.5 540.0 23

 24 LM152090205 Equity in noncorporate business 12948.1 15531.1 13293.1 13959.0 14901.2 15531.1 15942.4 16553.6 16946.8 24

 25 LM103092005 U.S. direct investment abroad 6782.8 8058.4 7185.7 7749.6 7688.2 8058.4 7545.5 6411.6 5819.1 25

 26 FL383090005 Miscellaneous assets 11913.5 11367.1 11680.2 11184.5 11410.7 11367.1 12113.9 13675.3 14689.6 26

 27 FL384190005 Total liabilities 84076.6 87909.7 84827.9 85518.4 86445.7 87909.7 89780.3 91278.2 92507.9 27

 28 LM313111303 U.S. official reserve assets 50.9 160.8 50.1 50.4 161.8 160.8 158.8 152.5 147.0 28

 29 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 29

 30 FL313112003 Treasury currency 23.1 23.0 23.1 23.1 23.0 23.0 23.0 23.0 22.6 30

 31 FL384122005 Debt securities 34282.6 36248.9 34784.7 35191.4 35226.5 36248.9 37050.2 37040.4 37455.4 31

 32 FL103169100 Open market paper 132.2 138.2 144.0 132.0 122.4 138.2 188.7 188.1 199.1 32

 33 FL313161105 Treasury securities 23600.9 25284.7 23943.0 24301.5 24249.9 25284.7 26016.5 26050.7 26468.7 33

 34 FL313161705 Agency- and GSE-backed securities 20.2 19.8 19.8 19.8 19.5 19.8 19.4 19.7 19.4 34

 35 FL383162005 Municipal securities 3988.8 4066.7 4015.5 4038.7 4057.0 4066.7 4045.2 4049.5 4032.8 35

 36 FL103163003 Corporate and foreign bonds 6540.6 6739.4 6662.3 6699.4 6777.6 6739.4 6780.3 6732.4 6735.5 36

 37 FL384123005 Loans 27057.4 28942.3 27396.3 27763.7 28377.0 28942.3 29544.3 30257.9 30779.1 37

 38 FL383168005 Depository institution loans n.e.c. 3137.0 3066.4 3140.9 3010.3 2925.0 3066.4 3241.0 3403.1 3478.5 38

 39 FL383169005 Other loans and advances 3174.5 3632.3 3332.1 3420.5 3687.0 3632.3 3771.7 3790.8 3820.8 39

 40 FL383165005 Mortgages 16561.1 17812.8 16756.0 17073.8 17427.5 17812.8 18069.1 18480.4 18795.4 40

 41 FL153166000 Consumer credit 4184.9 4430.8 4167.2 4259.1 4337.4 4430.8 4462.6 4583.6 4684.5 41

 42 FL383170005 Trade payables 5205.8 5841.4 5315.4 5469.6 5614.0 5841.4 6029.9 6246.9 6262.5 42

 43 FL313140003 Life insurance reserves 52.4 52.6 52.7 51.8 52.7 52.6 52.9 52.8 53.0 43

 44 FL143178005 Taxes payable 450.9 431.9 457.5 431.9 432.5 431.9 486.4 428.9 416.0 44

 45 LM143192305 Foreign direct investment: intercompany debt 331.1 335.5 338.3 310.7 322.2 335.5 319.0 320.5 329.5 45

 46 FL383190005 Miscellaneous liabilities 16617.3 15868.1 16404.6 16220.7 16230.9 15868.1 16110.5 16750.1 17037.6 46

 Memo:

 47 LM103164103 Corporate equities (market value) 42498.0 51408.0 44980.3 48277.7 48151.5 51408.0 48188.9 39427.4 37736.5 47

 48 LM112090205 Equity in noncorporate business 12857.8 15425.0 13199.3 13861.0 14801.6 15425.0 15847.4 16459.7 16849.3 48

 49 LM143192105 Foreign direct investment: equity 8791.9 11341.0 9341.7 10157.8 10215.8 11341.0 10757.1 8970.3 8586.9 49

(1) Sum of domestic nonfinancial sectors shown on tables L.101 through L.107.
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78 Z.1, December 9, 2022

L.101 Households and Nonprofit Organizations (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL154090005 Total financial assets 104884.7 118143.6 108581.4 113005.1 114645.4 118143.6 116333.2 108775.3 107720.9 1

 2 LM153091003 Foreign deposits 48.5 48.2 49.8 48.5 47.3 48.2 50.2 49.6 50.9 2

 3 FL153020005 Checkable deposits and currency 3182.2 4280.2 3587.0 3944.2 4062.2 4280.2 4508.4 4831.1 5123.3 3

 4 FL153030005 Time and savings deposits 10418.6 11215.9 10937.0 10764.5 10900.5 11215.9 11259.5 10812.9 10454.7 4

 5 FL153034005 Money market fund shares 2701.9 2803.3 2792.5 2775.2 2709.0 2803.3 2724.5 2729.2 2780.5 5

 6 LM154022005 Debt securities 3936.8 2883.4 3338.8 3192.3 3294.8 2883.4 3305.2 3594.1 4305.9 6

 7 LM153061105 Treasury securities 1368.5 590.9 1057.0 806.4 942.1 590.9 1074.1 1201.4 1729.0 7

 8 LM153061705 Agency- and GSE-backed securities 237.9 255.2 166.6 272.1 209.3 255.2 351.9 555.8 808.9 8

 9 LM153062005 Municipal securities 1929.6 1806.0 1889.4 1884.7 1832.3 1806.0 1651.4 1611.9 1544.8 9

 10 LM153063005 Corporate and foreign bonds 400.8 231.3 225.8 229.0 311.1 231.3 227.9 225.1 223.3 10

 11 FL154023005 Loans 1254.3 1350.7 1267.8 1283.9 1334.8 1350.7 1481.5 1425.6 1368.7 11

 12 FL153069005 Other loans and advances (2) 1149.7 1241.7 1161.5 1176.9 1226.9 1241.7 1373.3 1318.6 1262.5 12

 13 FL153065005 Mortgages 80.5 86.6 82.4 83.7 85.2 86.6 86.2 85.4 85.1 13

 14 FL163066223 Consumer credit (student loans) 24.1 22.4 23.8 23.2 22.7 22.4 22.0 21.6 21.1 14

 15 LM153064105 Corporate equities (3) 26122.9 31940.7 28161.1 30468.1 30740.8 31940.7 30545.3 25424.0 24328.6 15

 16 LM153064205 Mutual fund shares 10960.1 12755.8 11421.3 12032.2 12008.3 12755.8 11781.2 9962.2 9297.9 16

 17 FL163070005 Trade receivables 283.3 291.5 285.3 287.4 289.4 291.5 293.6 295.8 297.9 17

 18 FL153040005 Life insurance reserves 1867.0 1944.9 1872.8 1910.3 1926.9 1944.9 1919.6 1887.5 1885.6 18

 19 FL153050005 Pension entitlements (4) 29794.3 31677.5 30199.0 30957.3 31025.1 31677.5 31094.5 29762.3 29403.6 19

 20 FL593073005 Claims of pension fund on sponsor 5769.8 4985.2 5691.7 5335.5 5448.9 4985.2 5515.0 6400.9 6862.0 20

 21 FL153050025 Funded pension entitlements 24024.6 26692.2 24507.3 25621.8 25576.2 26692.2 25579.5 23361.4 22541.7 21

 22 LM152090205 Equity in noncorporate business 12948.1 15531.1 13293.1 13959.0 14901.2 15531.1 15942.4 16553.6 16946.8 22

 23 FL153090005 Miscellaneous assets 1366.8 1420.3 1375.9 1382.3 1405.1 1420.3 1427.3 1447.5 1476.5 23

 24 FL154190005 Total liabilities 17121.3 18358.9 17319.1 17659.2 17968.7 18358.9 18553.8 18914.2 19234.4 24

 25 FL163162003 Debt securities (municipal securities) 201.7 200.1 202.2 202.1 201.0 200.1 202.1 199.8 199.1 25

 26 FL154123005 Loans 16506.3 17737.1 16699.7 17039.1 17347.9 17737.1 17926.4 18288.3 18607.4 26

 27 FL153165105 One-to-four-family residential mortgages (5) 10916.1 11751.1 11037.5 11261.0 11499.1 11751.1 11887.7 12145.4 12354.0 27

 28 FL153166000 Consumer credit 4184.9 4430.8 4167.2 4259.1 4337.4 4430.8 4462.6 4583.6 4684.5 28

 29 FL153168005 Depository institution loans n.e.c. (6) 370.7 423.8 370.3 371.7 384.9 423.8 437.1 458.2 468.7 29

 30 FL153169005 Other loans and advances 774.3 869.8 864.1 886.3 865.3 869.8 877.2 838.9 837.6 30

 31 FL163165505 Commercial mortgages 260.4 261.5 260.7 261.0 261.2 261.5 261.9 262.3 262.6 31

 32 FL163170005 Trade payables 376.7 383.7 378.5 380.2 381.9 383.7 385.4 387.1 388.9 32

 33 FL543077073 Deferred and unpaid life insurance premiums 36.6 38.1 38.7 37.9 37.9 38.1 39.8 39.0 39.1 33

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary balance sheet table B.101.n shows estimates of annual 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 corporate equities, including closed-end fund, exchange-traded fund, and real estate investment trust shares.

(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 (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 I).
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L.102 Nonfinancial Business (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL144090005 Total financial assets 29739.9 32141.8 30250.2 30791.1 31202.8 32141.8 32368.2 32299.7 32276.5 1

 2 FL103091003 Foreign deposits 135.0 158.8 161.0 193.6 160.4 158.8 184.4 156.1 152.8 2

 3 FL143020005 Checkable deposits and currency 2134.0 2353.6 2110.1 2111.8 2272.8 2353.6 2333.8 2222.7 2032.9 3

 4 FL143030005 Time and savings deposits 1446.5 1540.6 1453.2 1474.4 1521.8 1540.6 1577.7 1573.0 1587.2 4

 5 FL143034005 Money market fund shares 829.3 932.6 864.9 879.4 888.2 932.6 904.8 898.8 905.5 5

 6 FL102051003 Security repurchase agreements 37.0 25.1 22.3 36.2 27.0 25.1 27.8 22.8 20.5 6

 7 LM144022005 Debt securities 446.6 464.7 414.3 442.5 449.5 464.7 437.5 462.9 431.6 7

 8 FL103069100 Commercial paper 250.9 253.0 235.5 269.1 250.1 253.0 229.0 245.4 210.0 8

 9 LM143061105 Treasury securities 151.0 162.1 137.5 133.3 152.6 162.1 159.6 167.2 172.7 9

 10 LM103061703 Agency- and GSE-backed securities 24.3 28.6 20.7 19.2 26.0 28.6 29.1 31.0 30.2 10

 11 LM143062005 Municipal securities 20.5 21.0 20.6 20.9 20.9 21.0 19.8 19.3 18.7 11

 12 FL144023005 Loans 135.2 145.7 137.2 139.1 142.4 145.7 147.5 150.6 153.6 12

 13 FL143065005 Mortgages 99.4 109.8 102.5 104.3 107.3 109.8 112.8 115.9 118.5 13

 14 FL143066005 Consumer credit 35.8 35.8 34.7 34.7 35.0 35.8 34.7 34.8 35.0 14

 15 LM103064103 Corporate equities 2543.2 3124.4 2675.0 2868.1 2849.3 3124.4 2944.1 2434.3 2280.1 15

 16 LM103064203 Mutual fund shares 376.7 446.6 394.2 422.1 425.0 446.6 424.1 375.4 360.3 16

 17 FL143070005 Trade receivables 4726.5 5325.2 4892.6 5047.4 5144.8 5325.2 5536.7 5747.4 5715.9 17

 18 LM103092005 U.S. direct investment abroad 6782.8 8058.4 7185.7 7749.6 7688.2 8058.4 7545.5 6411.6 5819.1 18

 19 FL143090005 Miscellaneous assets 10147.1 9566.2 9939.5 9427.0 9633.3 9566.2 10304.3 11844.2 12817.2 19

 20 FL144190005 Total liabilities 32058.9 33549.5 32356.8 32580.8 32938.4 33549.5 34230.4 34823.7 35024.2 20

 21 FL104122005 Debt securities 7277.3 7492.7 7412.2 7442.1 7512.9 7492.7 7587.9 7542.7 7551.2 21

 22 FL103169100 Commercial paper 132.2 138.2 144.0 132.0 122.4 138.2 188.7 188.1 199.1 22

 23 FL103162000 Municipal securities 604.5 615.0 605.9 610.7 612.9 615.0 618.8 622.2 616.7 23

 24 FL103163003 Corporate bonds 6540.6 6739.4 6662.3 6699.4 6777.6 6739.4 6780.3 6732.4 6735.5 24

 25 FL144123005 Loans 10529.0 11182.7 10674.4 10702.4 10826.3 11182.7 11595.2 11946.8 12148.9 25

 26 FL143168005 Depository institution loans n.e.c. 2766.3 2642.5 2770.6 2638.6 2540.1 2642.5 2803.9 2944.9 3009.8 26

 27 FL143169005 Other loans and advances 2378.1 2740.0 2445.8 2511.9 2618.9 2740.0 2871.8 2929.1 2960.3 27

 28 FL143165005 Mortgages 5384.5 5800.2 5457.9 5551.8 5667.3 5800.2 5919.5 6072.8 6178.8 28

 29 FL143170005 Trade payables 3279.6 3789.5 3356.8 3477.2 3595.7 3789.5 3936.0 4112.3 4109.5 29

 30 FL143178005 Taxes payable 450.9 431.9 457.5 431.9 432.5 431.9 486.4 428.9 416.0 30

 31 LM143192305 Foreign direct investment: intercompany debt 331.1 335.5 338.3 310.7 322.2 335.5 319.0 320.5 329.5 31

 32 FL143190005 Miscellaneous liabilities 10191.1 10317.2 10117.5 10216.5 10248.9 10317.2 10305.8 10472.6 10469.1 32

 Memo:

 33 LM103164103 Corporate equities (market value) 42498.0 51408.0 44980.3 48277.7 48151.5 51408.0 48188.9 39427.4 37736.5 33

 34 LM112090205 Equity in noncorporate business 12857.8 15425.0 13199.3 13861.0 14801.6 15425.0 15847.4 16459.7 16849.3 34

 35 LM143192105 Foreign direct investment: equity 8791.9 11341.0 9341.7 10157.8 10215.8 11341.0 10757.1 8970.3 8586.9 35

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

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL104090005 Total financial assets 23277.9 25394.6 23716.9 24193.0 24555.4 25394.6 25515.1 25354.9 25252.4 1

 2 FL103091003 Foreign deposits 135.0 158.8 161.0 193.6 160.4 158.8 184.4 156.1 152.8 2

 3 FL103020000 Checkable deposits and currency 1740.9 1882.2 1706.7 1693.5 1835.3 1882.2 1830.4 1706.0 1520.9 3

 4 FL103030003 Time and savings deposits 278.1 276.8 275.0 281.3 307.3 276.8 270.4 266.1 281.0 4

 5 FL103034000 Money market fund shares 712.1 813.1 747.0 761.1 769.3 813.1 784.6 776.2 781.3 5

 6 FL102051003 Security repurchase agreements 37.0 25.1 22.3 36.2 27.0 25.1 27.8 22.8 20.5 6

 7 LM104022005 Debt securities 364.3 384.0 334.5 362.5 370.3 384.0 360.7 384.1 344.8 7

 8 FL103069100 Commercial paper 250.9 253.0 235.5 269.1 250.1 253.0 229.0 245.4 210.0 8

 9 LM103061103 Treasury securities 72.9 85.9 62.1 57.7 77.9 85.9 87.3 92.9 90.5 9

 10 LM103061703 Agency- and GSE-backed securities 24.3 28.6 20.7 19.2 26.0 28.6 29.1 31.0 30.2 10

 11 LM103062003 Municipal securities 16.3 16.4 16.2 16.5 16.3 16.4 15.3 14.7 14.1 11

 12 FL104023005 Loans 80.3 87.0 80.7 82.4 84.4 87.0 87.6 89.6 91.8 12

 13 FL103065003 Mortgages 44.4 51.1 46.0 47.7 49.4 51.1 52.9 54.8 56.8 13

 14 FL103066005 Consumer credit 35.8 35.8 34.7 34.7 35.0 35.8 34.7 34.8 35.0 14

 15 LM103064103 Corporate equities 2543.2 3124.4 2675.0 2868.1 2849.3 3124.4 2944.1 2434.3 2280.1 15

 16 LM103064203 Mutual fund shares 376.7 446.6 394.2 422.1 425.0 446.6 424.1 375.4 360.3 16

 17 FL103070005 Trade receivables 3916.2 4468.3 4068.5 4213.1 4300.5 4468.3 4669.1 4862.5 4819.9 17

 18 LM103092005 U.S. direct investment abroad (1) 6782.8 8058.4 7185.7 7749.6 7688.2 8058.4 7545.5 6411.6 5819.1 18

 19 FL103090005 Miscellaneous assets 6311.3 5670.0 6066.2 5529.4 5738.4 5670.0 6386.5 7870.5 8780.0 19

 20 FL103076005 Insurance receivables 414.0 450.0 424.5 433.0 450.6 450.0 454.1 466.9 482.9 20

 21 FL103092405 Equity in GSEs 1.4 1.5 1.5 1.5 1.4 1.5 1.9 1.7 1.7 21

 22 FL103094705 Investment in finance company affiliates 109.5 94.6 109.4 99.6 93.8 94.6 92.4 94.4 91.2 22

 23 FL103072005 PPP subsidies receivable 244.4 72.7 201.4 162.0 118.1 72.7 46.1 21.3 9.2 23

 24 FL103093005 Other 5542.0 5051.2 5329.4 4833.4 5074.6 5051.2 5792.0 7286.1 8195.1 24

 25 FL104190005 Total liabilities 22998.5 24089.3 23192.5 23342.1 23631.8 24089.3 24617.1 25081.9 25188.2 25

 26 FL104122005 Debt securities 7277.3 7492.7 7412.2 7442.1 7512.9 7492.7 7587.9 7542.7 7551.2 26

 27 FL103169100 Commercial paper 132.2 138.2 144.0 132.0 122.4 138.2 188.7 188.1 199.1 27

 28 FL103162000 Municipal securities (2) 604.5 615.0 605.9 610.7 612.9 615.0 618.8 622.2 616.7 28

 29 FL103163003 Corporate bonds (1) 6540.6 6739.4 6662.3 6699.4 6777.6 6739.4 6780.3 6732.4 6735.5 29

 30 FL104123005 Loans 4121.1 4513.2 4201.7 4187.4 4283.1 4513.2 4803.7 5028.5 5139.6 30

 31 FL103168005 Depository institution loans n.e.c. 1182.8 1144.4 1191.0 1102.1 1062.1 1144.4 1288.9 1404.5 1459.2 31

 32 FL103169005 Other loans and advances (3) 2025.7 2330.2 2081.3 2124.3 2218.8 2330.2 2441.3 2493.0 2512.4 32

 33 FL103165005 Mortgages 912.6 1038.6 929.4 961.1 1002.2 1038.6 1073.5 1131.1 1168.1 33

 34 FL103170005 Trade payables 2764.6 3216.5 2817.2 2927.4 3031.5 3216.5 3351.6 3520.0 3509.7 34

 35 FL103178005 Taxes payable 275.4 251.5 277.3 253.6 252.8 251.5 305.0 265.9 261.8 35

 36 LM103192305 Foreign direct investment: intercompany debt 325.1 329.8 332.4 305.0 316.7 329.8 313.7 315.4 324.6 36

 37 FL103190005 Miscellaneous liabilities 8235.1 8285.7 8151.6 8226.6 8234.9 8285.7 8255.2 8409.4 8401.2 37

 38 FL573074005 Pension fund contributions payable 77.7 74.9 77.1 76.5 75.7 74.9 74.2 73.5 72.7 38

 39 FL573073005 Claims of pension fund on sponsor 118.9 -76.2 112.2 -16.6 31.4 -76.2 151.0 542.0 703.2 39

 40 FL103193005 Other 8038.4 8287.0 7962.3 8166.7 8127.8 8287.0 8030.0 7793.9 7625.3 40

 Memo:

 41 LM103164103 Corporate equities (market value) 42498.0 51408.0 44980.3 48277.7 48151.5 51408.0 48188.9 39427.4 37736.5 41

 42 LM103192105 Foreign direct investment: equity 8670.3 11194.7 9215.4 10018.8 10080.8 11194.7 10619.5 8857.6 8468.8 42

 43 FL104001005 Total liquid assets (4) 6187.3 7110.9 6315.8 6618.5 6743.9 7110.9 6826.5 6120.8 5741.6 43

 44 FL104150005 Total short-term liabilities (5) 6380.7 7080.8 6510.9 6539.3 6687.6 7080.8 7575.5 7871.5 7942.1 44

 45 FL104001006 Liquid assets/short-term liabilities (percent) 96.97 100.43 97.00 101.21 100.84 100.43 90.11 77.76 72.29 45

 46 FL104140006 Short-term debt/total debt (percent) (6) 29.31 30.09 29.42 28.88 28.85 30.09 31.63 32.50 32.86 46

(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 lines 15 and 16.

(5) Sum of lines 27, 31, 32, 34, and 35. 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 27, 31, and 32. Total debt is the sum of lines 26 and 30.
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L.104 Nonfinancial Noncorporate Business

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL114090005 Total financial assets 6462.1 6747.2 6533.3 6598.2 6647.4 6747.2 6853.1 6944.8 7024.1 1

 2 FL113020005 Checkable deposits and currency 393.2 471.5 403.4 418.3 437.6 471.5 503.4 516.7 511.9 2

 3 FL113030003 Time and savings deposits 1168.4 1263.8 1178.2 1193.1 1214.4 1263.8 1307.3 1306.9 1306.2 3

 4 FL113034003 Money market fund shares 117.2 119.5 117.9 118.3 118.9 119.5 120.2 122.6 124.2 4

 5 LM114022005 Debt securities 82.3 80.8 79.8 80.0 79.3 80.8 76.8 78.8 86.8 5

 6 LM113061003 Treasury securities 78.1 76.1 75.4 75.5 74.7 76.1 72.3 74.3 82.2 6

 7 LM113062003 Municipal securities 4.2 4.6 4.4 4.4 4.6 4.6 4.5 4.5 4.6 7

 8 FL114023005 Loans 55.0 58.7 56.5 56.7 58.0 58.7 59.9 61.0 61.8 8

 9 FL113065005 Mortgages 55.0 58.7 56.5 56.7 58.0 58.7 59.9 61.0 61.8 9

 10 FL113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FL113070003 Trade receivables 810.3 856.9 824.1 834.3 844.4 856.9 867.7 885.0 896.1 11

 12 FL113090005 Miscellaneous assets 3835.7 3896.1 3873.4 3897.6 3894.9 3896.1 3917.8 3973.7 4037.2 12

 13 FL113076005 Insurance receivables 135.9 153.2 140.3 144.6 151.3 153.2 155.4 161.0 167.2 13

 14 FL113092405 Equity investment in GSEs (1) 13.0 14.3 13.0 13.6 13.8 14.3 14.3 14.4 15.3 14

 15 FL113072003 PPP subsidies receivable 134.8 23.4 114.8 104.1 64.6 23.4 1.4 0.0 0.0 15

 16 FL113093005 Other 3552.1 3705.3 3605.3 3635.3 3665.2 3705.3 3746.8 3798.3 3854.8 16

 17 FL114190005 Total liabilities 9060.4 9460.2 9164.3 9238.7 9306.6 9460.2 9613.3 9741.8 9836.1 17

 18 FL114123005 Loans 6407.9 6669.5 6472.6 6515.0 6543.2 6669.5 6791.5 6918.2 7009.3 18

 19 FL113168005 Depository institution loans n.e.c. 1583.5 1498.1 1579.6 1536.6 1478.0 1498.1 1514.9 1540.4 1550.6 19

 20 FL113169005 Other loans and advances 352.4 409.8 364.6 387.7 400.2 409.8 430.6 436.1 447.9 20

 21 FL113165005 Mortgages 4471.9 4761.6 4528.5 4590.7 4665.1 4761.6 4846.0 4941.8 5010.7 21

 22 FL113170005 Trade payables 515.0 573.0 539.6 549.9 564.2 573.0 584.5 592.3 599.8 22

 23 FL113178003 Taxes payable 175.5 180.5 180.2 178.2 179.7 180.5 181.4 163.0 154.2 23

 24 LM115114305 Foreign direct investment: intercompany debt 6.0 5.7 6.0 5.7 5.5 5.7 5.3 5.1 4.8 24

 25 FL113193003 Miscellaneous liabilities 1956.0 2031.5 1966.0 1990.0 2014.0 2031.5 2050.5 2063.2 2067.9 25

 Memo:

 26 LM112090205 Equity in noncorporate business 12857.8 15425.0 13199.3 13861.0 14801.6 15425.0 15847.4 16459.7 16849.3 26

 27 LM115114103 Foreign direct investment: equity 121.6 146.4 126.3 139.1 135.0 146.4 137.6 112.7 118.1 27

(1) Equity in the Farm Credit System.
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82 Z.1, December 9, 2022

L.105 General Government (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL364090005 Total financial assets 8544.1 8017.5 7955.2 7902.1 7687.5 8017.5 8315.3 8410.9 8240.3 1

 2 FL313011005 U.S. official reserve assets 111.7 219.9 107.0 108.1 218.7 219.9 217.6 209.5 202.3 2

 3 FL363020005 Checkable deposits and currency 1962.0 755.7 1366.0 1152.3 537.6 755.7 1007.0 1150.4 996.7 3

 4 FL363030005 Time and savings deposits 414.6 384.8 416.1 393.2 386.6 384.8 377.6 355.4 354.8 4

 5 FL213034003 Money market fund shares 40.0 55.3 44.1 47.1 49.9 55.3 53.4 52.8 53.1 5

 6 FL212051003 Security repurchase agreements 179.2 189.2 181.7 184.2 186.7 189.2 191.7 194.2 196.8 6

 7 FL364022005 Debt securities 1898.6 2152.2 1826.6 2044.1 2116.5 2152.2 2100.7 2225.6 2200.7 7

 8 FL213069103 Open market paper 77.1 81.1 78.1 79.1 80.1 81.1 82.1 83.2 84.2 8

 9 FL213061105 Treasury securities 1111.9 1440.7 1099.6 1313.7 1394.2 1440.7 1420.0 1555.5 1537.4 9

 10 FL363061705 Agency- and GSE-backed securities 466.5 415.3 434.8 437.7 426.9 415.3 406.3 408.9 411.6 10

 11 FL213062003 Municipal securities 18.6 22.2 19.5 20.2 21.1 22.2 22.1 22.7 23.3 11

 12 FL363063005 Corporate and foreign bonds 224.4 192.9 194.5 193.3 194.2 192.9 170.2 155.4 144.1 12

 13 FL364023005 Loans 2189.4 2373.4 2228.7 2245.1 2323.0 2373.4 2441.4 2480.5 2545.5 13

 14 FL363065005 Mortgages 388.6 402.1 391.6 394.7 398.6 402.1 405.8 411.0 417.8 14

 15 FL313066220 Consumer credit 1381.0 1436.4 1410.1 1413.9 1436.4 1436.4 1455.0 1457.1 1484.3 15

 16 FL313069005 Other loans and advances 419.9 534.9 427.1 436.5 488.0 534.9 580.6 612.4 643.4 16

 17 LM363064105 Corporate equities 283.2 339.5 297.6 317.7 315.6 339.5 321.1 270.8 258.2 17

 18 LM213064203 Mutual fund shares 112.8 128.0 116.6 123.4 123.0 128.0 120.2 105.1 99.5 18

 19 FL363070005 Trade receivables 321.3 363.9 333.4 335.4 348.7 363.9 374.1 383.4 396.8 19

 20 FL363078005 Taxes receivable 631.6 674.8 672.8 576.2 708.7 674.8 728.3 599.5 540.0 20

 21 FL363090005 Miscellaneous assets 399.7 380.7 364.7 375.2 372.3 380.7 382.2 383.7 395.9 21

 22 FL364190005 Total liabilities 34896.4 36001.3 35152.0 35278.4 35538.6 36001.3 36996.1 37540.2 38249.2 22

 23 LM313111303 SDR allocations 50.9 160.8 50.1 50.4 161.8 160.8 158.8 152.5 147.0 23

 24 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 24

 25 FL313112003 Treasury currency 23.1 23.0 23.1 23.1 23.0 23.0 23.0 23.0 22.6 25

 26 FL364122005 Debt securities 26803.7 28556.1 27170.2 27547.2 27512.5 28556.1 29260.2 29297.9 29705.0 26

 27 FL313161105 Treasury securities 23600.9 25284.7 23943.0 24301.5 24249.9 25284.7 26016.5 26050.7 26468.7 27

 28 FL313161705 Budget agency securities 20.2 19.8 19.8 19.8 19.5 19.8 19.4 19.7 19.4 28

 29 FL213162005 Municipal securities 3182.7 3251.6 3207.4 3225.8 3243.1 3251.6 3224.3 3227.6 3216.9 29

 30 FL364123005 Loans 22.1 22.6 22.3 22.3 202.8 22.6 22.7 22.8 22.8 30

 31 FL313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FL363169005 Other loans and advances 22.1 22.6 22.3 22.3 202.8 22.6 22.7 22.8 22.8 32

 33 FL363170005 Trade payables 1549.4 1668.2 1580.2 1612.2 1636.4 1668.2 1708.5 1747.5 1764.1 33

 34 FL313140003 Insurance reserves 52.4 52.6 52.7 51.8 52.7 52.6 52.9 52.8 53.0 34

 35 FL363190005 Miscellaneous liabilities 6389.6 5512.8 6248.4 5966.3 5944.1 5512.8 5764.9 6238.5 6529.4 35

 Memo:

 36 FL374090005 Total financial assets (consolidated) (2) 7391.4 6532.1 6813.9 6546.0 6249.9 6532.1 6850.6 6810.0 6656.6 36

 37 FL374190005 Total liabilities (consolidated) (2) 33743.8 34515.8 34010.7 33922.3 34101.0 34515.8 35531.4 35939.2 36665.6 37

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

(2) Excludes Treasury securities and municipal securities held by state and local governments (lines 9 and 11) and federal government loans to state and local governments (line 32).
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Z.1, December 9, 2022 83

L.106 Federal Government

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL314090005 Total financial assets 4664.1 3592.6 4074.7 3718.0 3390.1 3592.6 3959.3 4007.5 3870.3 1

 2 FL313011005 U.S. official reserve assets 111.7 219.9 107.0 108.1 218.7 219.9 217.6 209.5 202.3 2

 3 FL313020005 Checkable deposits and currency 1732.1 410.1 1117.1 855.7 219.1 410.1 655.9 789.5 643.3 3

 4 FL313030003 Time and savings deposits 1.0 2.4 9.9 1.3 1.7 2.4 2.4 1.6 1.6 4

 5 FL314022005 Debt securities 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 5

 6 FL313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FL313063763 Corporate and foreign bonds 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 7

 8 FL314023005 Loans 1928.0 2104.4 1965.4 1979.9 2055.9 2104.4 2170.5 2207.7 2270.8 8

 9 FL313069005 Other loans and advances 419.9 534.9 427.1 436.5 488.0 534.9 580.6 612.4 643.4 9

 10 FL313065005 Mortgages 127.2 133.1 128.2 129.5 131.5 133.1 134.9 138.2 143.1 10

 11 FL313066220 Consumer credit (1) 1381.0 1436.4 1410.1 1413.9 1436.4 1436.4 1455.0 1457.1 1484.3 11

 12 LM313064105 Corporate equities (2) 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 12

 13 FL313070000 Trade receivables 84.9 95.5 91.9 93.4 96.0 95.5 98.0 95.6 96.6 13

 14 FL313078000 Taxes receivable 435.1 473.1 471.0 376.7 507.8 473.1 525.6 415.2 364.5 14

 15 FL313090005 Miscellaneous assets 337.7 253.7 278.8 269.3 257.1 253.7 255.6 254.8 257.5 15

 16 FL314190005 Total liabilities 26585.2 28065.3 26899.0 27227.5 27422.3 28065.3 28786.4 28814.7 29188.6 16

 17 LM313111303 SDR allocations 50.9 160.8 50.1 50.4 161.8 160.8 158.8 152.5 147.0 17

 18 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 18

 19 FL313112003 Treasury currency 23.1 23.0 23.1 23.1 23.0 23.0 23.0 23.0 22.6 19

 20 FL314122005 Debt securities 23621.1 25304.5 23962.8 24321.4 24269.4 25304.5 26035.9 26070.4 26488.1 20

 21 FL313161105 Treasury securities (3) 23600.9 25284.7 23943.0 24301.5 24249.9 25284.7 26016.5 26050.7 26468.7 21

 22 FL313161205 Marketable 20946.2 22557.5 21347.4 21699.0 21846.1 22557.5 23246.1 23253.4 23616.7 22

 23 FL313161305 Nonmarketable 2654.7 2727.2 2595.6 2602.5 2403.8 2727.2 2770.4 2797.3 2852.0 23

 24 FL313161705 Budget agency securities 20.2 19.8 19.8 19.8 19.5 19.8 19.4 19.7 19.4 24

 25 FL314123005 Loans 0.0 0.0 0.0 0.0 180.6 0.0 0.0 0.0 0.0 25

 26 FL313165403 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FL313169003 Other loans and advances 0.0 0.0 0.0 0.0 180.6 0.0 0.0 0.0 0.0 27

 28 FL313170005 Trade payables 448.5 513.0 466.2 484.8 495.3 513.0 538.6 562.1 563.1 28

 29 FL313140003 Insurance reserves 52.4 52.6 52.7 51.8 52.7 52.6 52.9 52.8 53.0 29

 30 FL313190005 Miscellaneous liabilities 2384.0 2006.2 2339.0 2290.8 2234.2 2006.2 1972.1 1948.6 1909.6 30

 31 FL343073045 Claims of pension fund on sponsor 1645.2 1554.8 1670.1 1676.6 1707.6 1554.8 1571.1 1569.1 1538.9 31

 32 FL313172003 PPP subsidies payable 415.2 106.3 346.7 288.5 198.0 106.3 54.2 26.2 13.1 32

 33 FL313190015 Other 323.6 345.1 322.2 325.7 328.6 345.1 346.8 353.3 357.6 33

(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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84 Z.1, December 9, 2022

L.107 State and Local Governments

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL214090005 Total financial assets 3880.0 4424.9 3880.5 4184.1 4297.4 4424.9 4356.1 4403.4 4370.0 1

 2 FL213020005 Checkable deposits and currency 229.9 345.6 248.9 296.6 318.5 345.6 351.1 360.9 353.4 2

 3 FL213030000 Time and savings deposits 413.6 382.4 406.2 392.0 384.8 382.4 375.2 353.8 353.1 3

 4 FL213034003 Money market fund shares 40.0 55.3 44.1 47.1 49.9 55.3 53.4 52.8 53.1 4

 5 FL212051003 Security repurchase agreements 179.2 189.2 181.7 184.2 186.7 189.2 191.7 194.2 196.8 5

 6 LM214022005 Debt securities 1898.1 2151.8 1826.1 2043.6 2116.0 2151.8 2100.2 2225.1 2200.2 6

 7 FL213069103 Open market paper 77.1 81.1 78.1 79.1 80.1 81.1 82.1 83.2 84.2 7

 8 LM213061105 Treasury securities 1111.9 1440.7 1099.6 1313.7 1394.2 1440.7 1420.0 1555.5 1537.4 8

 9 LM213061703 Agency- and GSE-backed securities 466.5 415.3 434.8 437.7 426.9 415.3 406.3 408.9 411.6 9

 10 LM213062003 Municipal securities 18.6 22.2 19.5 20.2 21.1 22.2 22.1 22.7 23.3 10

 11 LM213063003 Corporate and foreign bonds 223.9 192.4 194.0 192.8 193.7 192.4 169.7 155.0 143.7 11

 12 FL213065005 Loans (mortgages) 261.4 269.0 263.3 265.2 267.1 269.0 270.9 272.8 274.7 12

 13 LM213064103 Corporate equities 250.0 306.4 264.4 284.5 282.4 306.4 288.0 237.7 225.1 13

 14 LM213064203 Mutual fund shares 112.8 128.0 116.6 123.4 123.0 128.0 120.2 105.1 99.5 14

 15 FL213070003 Trade receivables 236.5 268.4 241.5 242.0 252.7 268.4 276.0 287.8 300.2 15

 16 FL213078005 Taxes receivable 196.5 201.7 201.8 199.5 200.9 201.7 202.7 184.2 175.5 16

 17 FL213093003 Miscellaneous assets 61.9 127.0 85.9 105.9 115.2 127.0 126.7 128.9 138.4 17

 18 FL214190005 Total liabilities 8311.3 7936.0 8253.1 8050.9 8116.3 7936.0 8209.7 8725.5 9060.6 18

 19 FL213162005 Debt securities (municipal securities) 3182.7 3251.6 3207.4 3225.8 3243.1 3251.6 3224.3 3227.6 3216.9 19

 20 FL213162400 Short-term (1) 46.6 32.9 43.2 36.9 30.8 32.9 27.1 23.3 25.1 20

 21 FL213162200 Long-term 3136.1 3218.7 3164.2 3189.0 3212.2 3218.7 3197.2 3204.2 3191.8 21

 22 FL213169203 Loans (U.S. government loans) 22.1 22.6 22.3 22.3 22.2 22.6 22.7 22.8 22.8 22

 23 FL213170003 Trade payables 1100.9 1155.2 1114.0 1127.4 1141.1 1155.2 1169.9 1185.4 1201.0 23

 24 FL223073045 Claims of pension fund on sponsor (2) 4005.6 3506.6 3909.4 3675.4 3709.9 3506.6 3792.8 4289.8 4619.9 24

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

(2) Included in miscellaneous liabilities.
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L.108 Domestic Financial Sectors (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL794090005 Total financial assets 123287.0 135454.4 126315.0 130322.9 131789.8 135454.4 133018.4 126687.2 124467.5 1

 2 FL713011005 U.S. official reserve assets 33.1 31.2 31.9 32.0 31.7 31.2 30.5 29.0 27.9 2

 3 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 FL713012003 Treasury currency 50.5 50.8 50.5 50.6 50.7 50.8 51.0 51.2 51.3 4

 5 FL793091005 Foreign deposits 21.7 19.4 28.6 21.0 19.3 19.4 23.3 9.2 13.3 5

 6 FL794010005 Net interbank assets 3138.1 3747.5 3810.6 3644.9 3964.7 3747.5 3694.6 3053.3 2965.4 6

 7 FL793020005 Checkable deposits and currency 704.2 758.8 794.0 732.6 783.3 758.8 749.6 722.7 713.0 7

 8 FL793030005 Time and savings deposits 735.2 604.3 700.2 665.8 643.9 604.3 586.9 641.3 679.8 8

 9 FL793034005 Money market fund shares 1057.8 1256.5 1134.1 1161.8 1220.0 1256.5 1253.8 1199.1 1191.1 9

 10 FL792050005 Federal funds and security repos 3538.8 4655.4 3271.7 3782.1 4378.7 4655.4 4579.2 4890.4 5094.5 10

 11 FL794022005 Debt securities 36105.6 38275.3 36345.6 37214.5 37082.7 38275.3 36980.3 35168.5 33689.6 11

 12 FL793069175 Open market paper 511.2 616.9 694.7 648.9 599.1 616.9 692.2 707.0 729.5 12

 13 FL793061105 Treasury securities 14727.7 15700.9 14762.6 15111.5 14715.0 15700.9 15303.7 14673.8 14020.8 13

 14 FL793061705 Agency- and GSE-backed securities 8412.6 8844.1 8502.6 8610.1 8801.8 8844.1 8565.5 8248.6 7856.6 14

 15 FL793062005 Municipal securities 2316.5 2469.5 2338.0 2406.5 2426.4 2469.5 2324.9 2212.6 2114.4 15

 16 FL793063005 Corporate and foreign bonds 10137.7 10643.8 10047.7 10437.4 10540.5 10643.8 10094.1 9326.5 8968.4 16

 17 FL794023005 Loans 25451.3 27255.6 25767.5 26159.9 26666.5 27255.6 27786.2 28608.9 29236.1 17

 18 FL793068005 Depository institution loans n.e.c. 4216.8 4345.0 4241.4 4192.3 4141.6 4345.0 4492.5 4699.9 4800.4 18

 19 FL793069005 Other loans and advances 2271.9 2512.8 2427.8 2471.6 2636.6 2512.8 2626.6 2714.6 2854.7 19

 20 FL793065005 Mortgages 16218.6 17461.6 16399.8 16708.6 17045.0 17461.6 17716.1 18124.3 18437.1 20

 21 FL793066005 Consumer credit 2744.0 2936.2 2698.5 2787.2 2843.2 2936.2 2951.0 3070.2 3144.0 21

 22 LM793064105 Corporate equities 25900.5 31165.8 27385.7 29345.2 29084.5 31165.8 29350.9 24704.3 23189.0 22

 23 LM793064205 Mutual fund shares 7088.7 7716.4 7270.8 7658.2 7573.3 7716.4 7206.9 6203.7 5797.3 23

 24 FL793070005 Trade receivables 376.3 412.1 387.6 400.9 412.6 412.1 424.0 438.4 444.9 24

 25 FL793040005 Life insurance reserves 516.6 556.1 525.2 536.4 545.3 556.1 560.0 566.0 572.0 25

 26 FL543050005 Pension entitlements 291.3 380.0 313.4 335.7 357.8 380.0 384.1 388.9 392.3 26

 27 LM793092005 U.S. direct investment abroad 1443.1 1707.6 1528.8 1630.5 1622.6 1707.6 1617.8 1357.1 1252.8 27

 28 FL793090005 Miscellaneous assets 16829.1 16856.5 16963.6 16945.6 17346.9 16856.5 17733.9 18650.0 19151.9 28

 29 FL794190005 Total liabilities 112506.5 122960.5 115513.5 118548.9 119893.3 122960.5 121938.7 117466.5 116362.7 29

 30 FL794110005 Net interbank liabilities 3258.2 3951.5 3829.3 3654.8 4128.0 3951.5 3977.3 3311.0 3315.0 30

 31 FL793120005 Checkable deposits and currency 9128.3 9359.0 9036.0 9128.0 8847.5 9359.0 9838.6 10148.4 10090.7 31

 32 FL703130005 Time and savings deposits 13680.1 14438.3 14195.4 13990.4 14136.6 14438.3 14543.8 14096.3 13822.1 32

 33 FL634090005 Money market fund shares 4765.9 5205.5 4980.0 5015.4 5019.2 5205.5 5090.7 5032.4 5084.2 33

 34 FL792150005 Federal funds and security repos 2949.4 4681.9 2909.1 3728.1 4407.5 4681.9 4573.6 5012.7 5205.3 34

 35 FL794122005 Debt securities 14971.3 15764.6 15117.2 15362.7 15479.7 15764.6 16161.4 16497.3 16709.4 35

 36 FL793169175 Open market paper 575.6 529.4 600.1 521.6 501.8 529.4 644.9 689.5 685.9 36

 37 FL423161705 Agency- and GSE-backed securities 10066.5 10679.4 10206.5 10387.6 10516.4 10679.4 10907.4 11175.7 11423.1 37

 38 FL793163005 Corporate and foreign bonds 4329.3 4555.8 4310.6 4453.4 4461.5 4555.8 4609.2 4632.1 4600.5 38

 39 FL794123005 Loans 2122.0 2304.0 2166.8 2216.4 2232.8 2304.0 2449.1 2524.4 2590.7 39

 40 FL793168005 Depository institution loans n.e.c. 380.8 426.1 384.0 438.2 424.8 426.1 395.4 399.0 386.5 40

 41 FL793169005 Other loans and advances 1515.1 1630.5 1562.6 1560.5 1599.4 1630.5 1801.8 1869.3 1941.1 41

 42 FL123165005 Mortgages 226.1 247.4 220.2 217.7 208.6 247.4 252.0 256.1 263.1 42

 43 LM653164205 Mutual fund shares 19562.6 22208.8 20271.3 21459.7 21374.9 22208.8 20698.1 17759.6 16617.5 43

 44 FL793170005 Trade payables 397.2 487.0 419.8 437.5 460.6 487.0 495.0 501.4 514.4 44

 45 FL543140005 Life insurance reserves 2248.9 2344.0 2257.6 2301.6 2320.7 2344.0 2322.0 2294.9 2297.7 45

 46 FL583150005 Pension entitlements 29960.2 31888.0 30376.0 31145.5 31224.4 31888.0 31307.2 29977.7 29620.8 46

 47 FL793178005 Taxes payable 149.6 139.8 136.9 129.9 137.7 139.8 81.9 63.6 46.9 47

 48 LM793192305 Foreign direct investment: intercompany debt 173.6 170.5 174.3 170.4 160.2 170.5 162.4 150.3 140.2 48

 49 FL793190005 Miscellaneous liabilities 9139.2 10017.6 9643.9 9808.5 9963.4 10017.6 10237.5 10096.3 10307.6 49

 Memo:

 50 LM793164105 Corporate equities (market value) (2) 12410.2 16624.9 13849.8 15246.9 15427.5 16624.9 16169.1 14073.1 13420.4 50

 51 LM662090003 Equity in noncorporate business 90.3 106.1 93.8 98.0 99.6 106.1 94.9 93.9 97.5 51

 52 LM793192105 Foreign direct investment: equity 1460.0 1761.4 1521.1 1626.9 1623.9 1761.4 1648.5 1371.6 1311.2 52

(1) Sum of financial sectors shown on tables L.109 through L.132.

(1) Corporate equities outstanding detail is not available for financial subsectors and not shown on tables L.109 through L.132.
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L.109 Monetary Authority (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL714090005 Total financial assets 7656.1 8910.6 7767.6 8256.7 8612.4 8910.6 8632.0 8200.3 7663.3 1

 2 FL713011005 U.S. official reserve assets 33.1 31.2 31.9 32.0 31.7 31.2 30.5 29.0 27.9 2

 3 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 FL713012003 Treasury currency 50.5 50.8 50.5 50.6 50.7 50.8 51.0 51.2 51.3 4

 5 FL713022003 Federal Reserve float -0.6 -0.6 -1.1 -1.1 -0.7 -0.6 -0.7 -0.8 -0.4 5

 6 FL713068705 Interbank loans 44.6 13.3 41.4 41.8 16.6 13.3 8.8 9.6 11.7 6

 7 FL713068703 Discount window (2) 1.6 0.6 0.8 0.5 0.8 0.6 0.6 2.4 7.2 7

 8 FL763069143 AMLF and MMLF loans (3) 2.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FL713068725 PPPLF loans (4) 41.0 12.7 40.4 41.3 15.8 12.7 8.2 7.1 4.5 9

 10 FL712051000 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM714022005 Debt securities (5) 7422.2 8733.2 7548.3 8010.8 8412.3 8733.2 8470.4 8043.4 7507.3 11

 12 FL713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 LM713061103 Treasury securities 5254.6 6052.1 5273.2 5596.5 5831.3 6052.1 5851.4 5563.8 5186.5 13

 14 LM713061113 Treasury bills 326.0 325.9 326.0 326.0 326.0 325.9 325.4 324.5 307.4 14

 15 LM713061125 Other Treasury securities 4928.6 5726.1 4947.2 5270.5 5505.3 5726.1 5526.0 5239.3 4879.1 15

 16 LM713061705 Agency- and GSE-backed securities 2167.7 2681.1 2275.1 2414.3 2581.0 2681.1 2618.9 2479.6 2320.8 16

 17 LM713061903 Mortgage-backed securities 2164.1 2677.8 2271.8 2410.9 2577.7 2677.8 2615.9 2476.7 2318.0 17

 18 LM713061703 Other agency- and GSE-backed securities 3.5 3.3 3.3 3.4 3.3 3.3 3.1 2.9 2.7 18

 19 FL713068005 Loans (depository institution loans n.e.c.) 52.2 42.2 58.7 86.2 65.1 42.2 34.1 28.4 26.1 19

 20 FL713068813 Households (TALF I) (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL713068665 Brokers and dealers (7) 2.1 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL713068863 Finance companies (PPPLF) (4) 9.4 21.1 19.7 49.3 43.3 21.1 15.3 10.8 9.4 22

 23 FL713068505 Other financial business (8) 40.7 21.0 38.9 36.9 21.8 21.0 18.8 17.7 16.6 23

 24 FL713064103 Corporate equities (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FL713090005 Miscellaneous assets 48.9 35.4 32.6 31.2 31.5 35.4 32.8 34.3 34.2 25

 26 FL713091103 Nonofficial foreign currencies (10) 17.9 3.3 2.5 0.6 0.3 3.3 0.4 0.3 0.3 26

 27 FL713093005 Other 31.1 32.0 30.1 30.6 31.2 32.0 32.4 33.9 33.9 27

 28 FL714190005 Total liabilities 7300.3 8781.0 7688.8 8087.1 8467.7 8781.0 8960.4 8917.7 8786.0 28

 29 FL713113003 Depository institution reserves 2994.9 3644.3 3672.7 3511.6 3859.2 3644.3 3597.4 2955.4 2874.8 29

 30 FL703025005 Vault cash of depository institutions 99.2 90.5 97.6 92.5 89.5 90.5 89.1 89.1 79.3 30

 31 FL713120005 Checkable deposits and currency 3945.7 2817.5 3521.6 3178.0 2571.1 2817.5 3109.2 3229.3 3069.8 31

 32 FL713123005 Due to federal government 1728.6 406.2 1122.0 852.0 215.2 406.2 651.6 782.5 636.1 32

 33 FL713123023 Treasury cash holdings 0.0 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.1 33

 34 FL713123030 Treasury general deposit account 1728.6 406.1 1122.0 851.9 215.2 406.1 651.5 782.4 636.0 34

 35 FL713123043 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 FL713124005 Due to government-sponsored enterprises 51.0 33.9 134.1 28.6 33.2 33.9 29.8 25.9 20.3 36

 37 FL713129005 Due to other financial business (11) 154.2 221.9 185.8 201.1 209.5 221.9 241.4 220.7 205.8 37

 38 FL713122605 Due to rest of the world 21.9 9.4 33.2 5.3 5.7 9.4 7.5 7.5 7.5 38

 39 FL713125005 Currency outside banks 1989.9 2146.2 2046.5 2091.0 2107.5 2146.2 2178.9 2192.7 2200.2 39

 40 FL712151003 Security repurchase agreements 216.1 2183.0 352.2 1260.9 1905.2 2183.0 2121.0 2601.2 2720.4 40

 41 FL712151103 Reverse repurchase agreement operations (12) 9.7 1904.6 134.3 991.9 1604.9 1904.6 1872.0 2329.7 2425.9 41

 42 FL712151115 Other (13) 206.4 278.5 217.9 269.0 300.3 278.5 249.0 271.5 294.5 42

 43 FL713190005 Miscellaneous liabilities 44.4 45.7 44.7 44.0 42.7 45.7 43.8 42.6 41.7 43

 44 FL313094213 Treasury contributions to MMLF 1.5 0.0 1.5 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 FL713164003 Federal Reserve Bank stock 32.4 33.9 32.5 32.8 33.1 33.9 34.3 34.9 35.1 45

 46 FL713193005 Other 10.5 11.8 10.7 11.2 9.6 11.8 9.4 7.7 6.7 46

 Memo:

 47 FL714022065 Amortized cost of debt securities 7068.2 8605.3 7470.8 7842.5 8269.2 8605.3 8800.9 8763.4 8632.6 47

 48 FL713061163 Treasury securities 4955.9 5917.4 5210.3 5450.1 5700.5 5917.4 6017.5 5990.6 5873.7 48

 49 FL713061765 Agency- and GSE-backed securities 2112.3 2687.9 2260.5 2392.4 2568.8 2687.9 2783.4 2772.8 2758.9 49

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

(3) Loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF) and the

 Money Market Mutual Fund Liquidity Facility (MMLF). The AMLF was dissolved in 2010:Q1.

(4) Loans extended to depository institutions (line 9) and finance companies (line 22) through the Paycheck Protection Program Liquidity Facility (PPPLF).

(5) Shown at estimated fair value.

(6) Loans extended to financial institutions such as domestic hedge funds through the 2008 Term Asset-Backed Securities Loan Facility (TALF I).

(7) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF), AMLF (2008-2010), and MMLF (2020).

(8) Loans extended to Federal Reserve funding, credit, and liquidity, facility special purpose vehicles created in response to the 2008 Financial Crisis and COVID-19 pandemic.

(9) 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 Assuance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG. Series is zero after 2010:Q4.

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

(11) Deposits of designated financial market utilities (DFMU) and deposits of Federal Reserve facility LLC’s special purpose vehicles.

(12) 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).

(13) Includes reverse repurchase agreements conducted through the Federal Reserve’s Foreign Repo Pool.
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L.110 Private Depository Institutions (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL704090005 Total financial assets 23456.9 25628.9 24226.7 24394.0 25136.0 25628.9 25771.1 25513.4 25522.7 1

 2 FL703025005 Vault cash 99.2 90.5 97.6 92.5 89.5 90.5 89.1 89.1 79.3 2

 3 FL713113003 Reserves at Federal Reserve 2994.9 3644.3 3672.7 3511.6 3859.2 3644.3 3597.4 2955.4 2874.8 3

 4 FL702050005 Federal funds and security repos 862.4 577.2 602.5 576.5 587.1 577.2 563.8 556.3 594.9 4

 5 LM704022005 Debt securities 5868.2 7055.4 6280.7 6532.6 6779.2 7055.4 6985.4 6788.8 6419.0 5

 6 FL703069175 Open market paper 2.3 0.3 0.3 0.1 0.0 0.3 0.5 0.4 0.1 6

 7 LM703061105 Treasury securities 1203.6 1641.3 1263.7 1346.5 1456.5 1641.3 1654.3 1687.0 1609.5 7

 8 LM703061705 Agency- and GSE-backed securities 3375.7 3883.0 3606.3 3728.1 3831.9 3883.0 3746.6 3550.3 3273.3 8

 9 LM703062005 Municipal securities 593.9 642.8 602.2 619.0 628.2 642.8 620.7 610.6 591.0 9

 10 LM703063005 Corporate and foreign bonds 692.7 888.0 808.2 838.9 862.6 888.0 963.4 940.6 945.2 10

 11 FL704023005 Loans 12112.6 12631.3 12040.7 12085.6 12203.5 12631.3 12797.1 13345.7 13707.5 11

 12 FL703068005 Depository institution loans n.e.c. 4164.6 4302.9 4182.7 4106.2 4076.6 4302.9 4458.4 4671.4 4774.3 12

 13 FL703069005 Other loans and advances 16.2 18.1 15.7 14.4 17.1 18.1 14.0 14.0 13.5 13

 14 FL703065005 Mortgages 5741.1 5952.5 5706.2 5751.8 5846.1 5952.5 5947.8 6162.4 6349.1 14

 15 FL703066005 Consumer credit 2190.7 2357.8 2136.1 2213.3 2263.8 2357.8 2376.9 2497.9 2570.6 15

 16 LM703064105 Corporate equities 43.7 54.1 47.9 51.8 49.9 54.1 53.1 44.2 40.9 16

 17 LM703064205 Mutual fund shares 16.3 22.0 18.4 21.9 19.0 22.0 20.5 16.7 18.0 17

 18 FL763040005 Life insurance reserves 184.8 198.1 186.9 191.6 193.9 198.1 200.3 202.2 204.4 18

 19 LM763092000 U.S. direct investment abroad 325.4 378.3 338.3 367.2 363.9 378.3 354.0 293.8 273.7 19

 20 FL703090005 Miscellaneous assets 949.5 977.7 941.0 962.6 990.5 977.7 1110.4 1221.1 1310.3 20

 21 FL704190005 Total liabilities 23494.9 25689.6 24327.7 24478.6 25141.6 25689.6 26080.4 25855.1 25971.1 21

 22 FL704110005 Net interbank liabilities 164.1 216.7 59.0 50.7 179.3 216.7 290.7 266.5 361.0 22

 23 FL703127005 Checkable deposits 5182.6 6541.5 5514.4 5950.1 6276.4 6541.5 6729.4 6919.1 7020.9 23

 24 FL703130005 Time and savings deposits 13680.1 14438.3 14195.4 13990.4 14136.6 14438.3 14543.8 14096.3 13822.1 24

 25 FL702150005 Federal funds and security repos 715.9 688.5 745.0 685.1 719.1 688.5 700.5 661.2 652.8 25

 26 FL704122005 Debt securities 502.1 402.3 484.8 427.6 388.7 402.3 460.4 522.1 525.6 26

 27 FL703169175 Open market paper 245.7 195.2 238.4 206.5 184.6 195.2 236.4 277.6 279.7 27

 28 FL763163005 Corporate bonds 256.5 207.1 246.4 221.1 204.1 207.1 224.0 244.4 245.9 28

 29 FL703169005 Loans (other loans and advances) 295.6 228.6 268.9 245.1 229.1 228.6 244.5 385.0 523.1 29

 30 FL763178000 Taxes payable (net) 113.0 104.1 96.3 94.4 101.1 104.1 46.7 32.3 17.9 30

 31 LM753192305 Foreign direct investment: intercompany debt 20.8 18.0 20.5 17.9 17.7 18.0 16.9 16.5 16.0 31

 32 FL703190005 Miscellaneous liabilities 2820.7 3051.4 2943.6 3017.4 3093.6 3051.4 3047.3 2956.0 3031.6 32

 33 FL763194603 Equity investment by holding company parent 2120.1 2243.5 2141.1 2194.5 2220.3 2243.5 2178.2 2114.5 2059.9 33

 34 FL763194705 Other investment by holding company parent 118.9 142.9 123.8 131.9 142.0 142.9 128.0 134.0 131.4 34

 35 FL753194503 Investment by other financial business 92.0 108.5 134.2 116.8 125.8 108.5 132.2 105.6 116.6 35

 36 FL703193005 Other 489.8 556.5 544.5 574.2 605.6 556.5 608.9 602.0 723.8 36

 Memo:

 37 LM753192103 Foreign direct investment: equity 422.7 467.2 433.9 438.8 434.1 467.2 436.1 362.4 343.3 37

 38 FL763066303 Consumer leases not included above (2) 13.5 13.6 13.4 13.5 13.5 13.6 13.2 12.4 11.6 38

 39 FL703139105 Uninsured deposits (3) 8469.6 9735.8 8802.9 9054.0 9396.7 9735.8 9827.1 9610.4 9441.3 39

(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.

(3) Includes checkable deposits (line 23) and time and savings deposits (line 24) not insured by the Federal Deposit Insurance Corporation or the National Credit Union Share Insurance Fund.
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L.111 U.S.-Chartered Depository Institutions

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL764090005 Total financial assets 19421.6 21123.8 19902.5 20091.3 20585.2 21123.8 20997.5 20719.0 20579.5 1

 2 FL763025000 Vault cash 99.2 90.4 97.6 92.5 89.5 90.4 89.1 89.1 79.2 2

 3 FL763013005 Reserves at Federal Reserve 2189.8 2578.4 2602.5 2474.5 2658.4 2578.4 2349.8 1827.6 1723.2 3

 4 FL762050005 Federal funds and security repos 538.3 317.4 294.3 300.1 287.5 317.4 298.5 281.0 308.0 4

 5 LM764022005 Debt securities 5202.1 6318.7 5568.0 5825.0 6055.2 6318.7 6242.0 6016.2 5659.3 5

 6 FL763069175 Open market paper 2.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM763061100 Treasury securities 1044.4 1472.3 1111.3 1195.7 1297.6 1472.3 1471.3 1488.5 1407.7 7

 8 LM763061705 Agency- and GSE-backed securities 3061.0 3505.5 3233.7 3357.3 3453.9 3505.5 3374.6 3169.0 2920.3 8

 9 LM763061803 Residential mortgage pass-through securities 1943.3 2265.2 2083.7 2170.7 2240.1 2265.2 2182.4 2036.2 1891.0 9

 10 LM763061503 Commercial mortgage pass-through securities 201.9 231.4 207.8 220.9 226.6 231.4 221.4 212.8 180.2 10

 11 LM763061603 Residential CMOs and other structured MBS 547.8 575.6 554.9 554.7 569.6 575.6 547.3 521.7 495.6 11

 12 LM763061403 Commercial CMOs and other structured MBS 238.9 265.9 247.7 261.1 262.8 265.9 253.8 226.6 184.1 12

 13 LM763061795 Other 129.2 167.4 139.6 150.0 154.7 167.4 169.7 171.8 169.4 13

 14 LM763062000 Municipal securities 583.7 630.4 591.3 607.5 616.1 630.4 608.7 598.9 579.1 14

 15 LM763063005 Corporate and foreign bonds 511.0 710.5 631.6 664.4 687.7 710.5 787.5 759.8 752.2 15

 16 LM763063673 Priv. residential mortgage pass-through securities 4.2 5.3 4.9 4.9 4.9 5.3 4.5 4.2 4.1 16

 17 LM763063653 Priv. commercial mortgage pass-through securities 2.9 3.3 3.0 3.0 3.1 3.3 3.5 3.4 3.3 17

 18 LM763063663 Priv. residential CMOs and other structured MBS 39.0 55.4 40.7 42.1 48.8 55.4 61.2 61.9 59.6 18

 19 LM763063693 Priv. commercial CMOs and other structured MBS 42.6 54.8 43.9 47.8 50.3 54.8 57.3 57.6 57.4 19

 20 LM763063095 Other 422.2 591.7 539.0 566.6 580.5 591.7 661.0 632.6 627.9 20

 21 FL764023005 Loans 10091.7 10438.1 10033.7 10056.0 10117.1 10438.1 10535.5 10957.8 11205.5 21

 22 FL763068005 Depository institution loans n.e.c. 3362.7 3421.7 3394.8 3320.9 3263.7 3421.7 3453.4 3609.9 3658.8 22

 23 FL763069005 Other loans and advances 16.2 18.1 15.7 14.4 17.1 18.1 14.0 14.0 13.5 23

 24 FL763065005 Mortgages 5027.1 5172.5 4990.0 5019.9 5094.6 5172.5 5238.5 5420.3 5575.7 24

 25 FL763066000 Consumer credit 1685.6 1825.8 1633.2 1700.8 1741.8 1825.8 1829.6 1913.6 1957.5 25

 26 LM763064103 Corporate equities 43.7 54.1 47.9 51.8 49.9 54.1 53.1 44.2 40.9 26

 27 LM763064203 Mutual fund shares 11.5 14.9 12.3 15.0 11.6 14.9 13.1 11.0 12.2 27

 28 FL763040005 Life insurance reserves 184.8 198.1 186.9 191.6 193.9 198.1 200.3 202.2 204.4 28

 29 LM763092000 U.S. direct investment abroad 325.4 378.3 338.3 367.2 363.9 378.3 354.0 293.8 273.7 29

 30 FL763090005 Miscellaneous assets 735.2 735.4 720.9 717.6 758.1 735.4 861.9 996.1 1073.0 30

 31 FL764190005 Total liabilities 19626.0 21468.4 20186.9 20419.7 20879.6 21468.4 21564.0 21296.5 21273.4 31

 32 FL764110005 Net interbank liabilities 11.9 -40.1 -98.0 -62.9 -91.4 -40.1 -61.3 -100.6 -87.3 32

 33 FL713022003 Federal Reserve float -0.6 -0.6 -1.1 -1.1 -0.7 -0.6 -0.7 -0.8 -0.4 33

 34 FL713068715 Borrowing from Federal Reserve banks 44.2 13.2 41.1 41.7 16.5 13.2 8.8 9.6 11.7 34

 35 FL764112005 To domestic banks -3.4 5.7 3.0 4.4 3.8 5.7 19.4 -5.8 -2.2 35

 36 FL764116005 To foreign banks -28.3 -58.5 -141.1 -107.9 -111.0 -58.5 -88.8 -103.6 -96.4 36

 37 FL763127005 Checkable deposits 4572.5 5821.2 4804.0 5235.9 5544.7 5821.2 5970.3 6144.3 6240.6 37

 38 FL763123005 Federal government 2.7 2.6 2.4 4.5 3.6 2.6 2.8 2.9 3.2 38

 39 FL763128000 State and local government 229.9 345.6 248.9 296.6 318.5 345.6 351.1 360.9 353.4 39

 40 FL763129205 Private domestic 4278.0 5390.7 4494.1 4858.7 5140.9 5390.7 5525.6 5707.7 5795.3 40

 41 FL763122605 Rest of the world 61.9 82.4 58.6 76.2 81.6 82.4 90.8 72.6 88.7 41

 42 FL763130005 Time and savings deposits 11461.5 12092.9 11864.7 11661.0 11809.0 12092.9 12111.1 11630.1 11350.1 42

 43 FL762150005 Federal funds and security repos 170.9 161.0 187.5 143.1 150.7 161.0 156.1 168.6 177.0 43

 44 FL764122005 Debt securities 436.9 342.0 418.8 368.9 336.3 342.0 375.6 417.9 420.9 44

 45 FL763169175 Open market paper 180.4 134.9 172.4 147.9 132.2 134.9 151.7 173.5 175.0 45

 46 FL763163005 Corporate bonds 256.5 207.1 246.4 221.1 204.1 207.1 224.0 244.4 245.9 46

 47 FL763169305 Loans (other loans and advances) 252.3 187.9 228.6 205.9 189.6 187.9 202.1 325.1 445.6 47

 48 FL763178000 Taxes payable (net) 113.0 104.1 96.3 94.4 101.1 104.1 46.7 32.3 17.9 48

 49 FL763190005 Miscellaneous liabilities 2607.0 2799.3 2685.1 2773.3 2839.6 2799.3 2763.4 2678.7 2708.6 49

 50 FL763194603 Equity investment by holding company parents 2120.1 2243.5 2141.1 2194.5 2220.3 2243.5 2178.2 2114.5 2059.9 50

 51 FL763194705 Other investment by holding company parents 118.9 142.9 123.8 131.9 142.0 142.9 128.0 134.0 131.4 51

 52 FL763193005 Other 368.0 412.8 420.2 446.9 477.3 412.8 457.1 430.2 517.3 52

 Memo:

 53 FL763066303 Consumer leases not included above (1) 13.5 13.6 13.4 13.5 13.5 13.6 13.2 12.4 11.6 53

 54 FL763139105 Uninsured deposits (2) 7191.7 8385.3 7427.0 7682.9 8028.1 8385.3 8405.1 8138.2 7971.7 54

(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.

(2) Includes checkable deposits (line 37) and time and savings deposits (line 42) not insured by the Federal Deposit Insurance Corporation.
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Z.1, December 9, 2022 89

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

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL754090005 Total financial assets 2102.7 2350.4 2265.2 2225.1 2438.3 2350.4 2586.3 2599.2 2714.8 1

 2 FL753025003 Vault cash 0.0 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 2

 3 FL753013003 Reserves at Federal Reserve 602.5 830.2 811.0 799.1 966.6 830.2 1034.0 978.8 1032.1 3

 4 FL752050005 Federal funds and security repos 323.7 259.5 307.7 276.2 299.4 259.5 265.1 275.1 286.7 4

 5 LM754022005 Debt securities 313.5 286.1 294.7 289.4 289.5 286.1 280.8 295.5 304.4 5

 6 FL753069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM753061103 Treasury securities 99.8 86.9 86.2 83.8 85.5 86.9 89.4 96.0 92.5 7

 8 LM753061703 Agency- and GSE-backed securities 60.7 53.5 62.2 58.6 59.3 53.5 49.3 52.6 52.1 8

 9 LM753062003 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 LM753063005 Corporate and foreign bonds 153.0 145.6 146.3 147.0 144.6 145.6 142.1 146.9 159.8 10

 11 FL754023005 Loans 785.4 869.9 768.6 767.0 796.5 869.9 897.2 940.1 967.7 11

 12 FL753068005 Depository institution loans n.e.c. 704.5 778.8 688.2 685.7 712.8 778.8 802.4 841.1 865.1 12

 13 FL753069703 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL753065005 Mortgages 81.0 91.1 80.4 81.4 83.8 91.1 94.9 99.0 102.6 14

 15 FL753064103 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL753093005 Miscellaneous assets 77.6 104.7 83.2 93.4 86.3 104.7 109.2 109.7 123.9 16

 17 FL754190005 Total liabilities 2121.4 2260.9 2264.4 2165.2 2341.1 2260.9 2514.8 2542.6 2640.9 17

 18 FL754110005 Net interbank liabilities 188.7 289.0 187.3 148.3 306.4 289.0 401.2 425.8 508.6 18

 19 FL754116005 To foreign banks 181.2 278.3 179.8 140.5 291.7 278.3 383.4 402.3 483.9 19

 20 FL754112005 To domestic banks 7.5 10.7 7.5 7.8 14.7 10.7 17.8 23.6 24.7 20

 21 FL753127005 Checkable deposits 256.3 282.0 306.8 296.0 304.9 282.0 307.5 326.8 310.4 21

 22 FL753130005 Time and savings deposits 858.0 862.2 893.1 885.8 866.9 862.2 907.5 934.6 945.9 22

 23 FL752150005 Federal funds and security repos 545.0 527.5 557.5 542.0 568.4 527.5 544.5 492.6 475.8 23

 24 FL753169175 Debt securities (open market paper) 65.3 60.4 66.0 58.7 52.4 60.4 84.8 104.1 104.7 24

 25 LM753192305 Foreign direct investment: intercompany debt 20.8 18.0 20.5 17.9 17.7 18.0 16.9 16.5 16.0 25

 26 FL753190005 Miscellaneous liabilities 187.3 221.8 233.3 216.6 224.4 221.8 252.4 242.2 279.5 26

 27 FL753194503 Investment by other financial business 92.0 108.5 134.2 116.8 125.8 108.5 132.2 105.6 116.6 27

 28 FL753193005 Other 95.3 113.3 99.0 99.8 98.6 113.3 120.2 136.6 162.9 28

 Memo:

 29 LM753192103 Foreign direct investment: equity 422.7 467.2 433.9 438.8 434.1 467.2 436.1 362.4 343.3 29

 30 FL753139105 Uninsured deposits (2) 1114.4 1144.3 1199.9 1181.8 1171.8 1144.3 1215.0 1261.4 1256.3 30

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) All checkable deposits (line 21) and time and savings deposits (line 22) are considered uninsured according to the Federal Deposit Insurance Act.
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90 Z.1, December 9, 2022

L.113 Banks in U.S.-Affiliated Areas (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL744090005 Total financial assets 109.5 113.3 119.3 126.1 117.9 113.3 103.2 103.6 107.9 1

 2 FL743013003 Reserves at Federal Reserve 14.7 21.9 14.5 23.2 22.4 21.9 13.3 11.8 4.9 2

 3 LM744022003 Debt securities 41.3 47.5 43.8 42.4 47.3 47.5 47.8 51.3 54.5 3

 4 LM743061103 Treasury securities 13.8 19.6 15.3 15.5 18.4 19.6 19.6 23.0 26.8 4

 5 LM743061703 Agency- and GSE-backed securities 15.0 16.5 16.6 17.1 17.2 16.5 16.9 16.9 16.6 5

 6 LM743062003 Municipal securities 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 6

 7 LM743063005 Corporate and foreign bonds 12.5 11.3 11.8 9.7 11.7 11.3 11.3 11.2 11.1 7

 8 FL744023003 Loans 41.6 37.2 40.4 39.5 38.1 37.2 36.0 36.4 37.3 8

 9 FL743068005 Depository institution loans n.e.c. 18.7 15.8 18.0 17.6 16.3 15.8 15.3 15.7 16.3 9

 10 FL743065103 One-to-four-family residential mortgages 13.5 12.0 13.1 12.7 12.3 12.0 11.4 11.2 11.1 10

 11 FL743065505 Commercial mortgages 9.4 9.4 9.3 9.2 9.5 9.4 9.3 9.5 10.0 11

 12 FL743093005 Miscellaneous assets 11.9 6.8 20.7 21.1 10.2 6.8 6.1 4.1 11.1 12

 13 FL744190005 Total liabilities 101.5 105.5 111.2 118.4 110.0 105.5 95.7 95.9 99.7 13

 14 FL744110005 Net interbank liabilities -1.4 -1.3 -1.4 -1.4 -1.4 -1.3 -1.4 -1.4 -2.8 14

 15 FL743127003 Checkable deposits 56.7 64.0 62.5 69.3 65.9 64.0 56.5 57.9 60.5 15

 16 FL743130003 Time and savings deposits 42.9 40.7 47.4 48.2 43.2 40.7 38.6 37.3 40.1 16

 17 FL743193005 Miscellaneous liabilities 3.2 2.1 2.7 2.4 2.3 2.1 2.0 2.1 1.9 17

 Memo:

 18 FL743139105 Uninsured deposits (2) 44.0 52.5 47.5 54.8 53.8 52.5 46.0 47.4 48.2 18

(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.

(2) Includes checkable deposits (line 15) and time and savings deposits (line 16) not insured by the Federal Deposit Insurance Corporation.

L.114 Credit Unions

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

 1 FL474090005 Total financial assets 1823.2 2041.3 1939.6 1951.5 1994.5 2041.3 2084.1 2091.6 2120.6 1

 2 FL473013005 Reserves at Federal Reserve 188.0 213.8 244.6 214.8 211.9 213.8 200.3 137.2 114.6 2

 3 FL472050053 Federal funds and security repos 0.5 0.2 0.5 0.3 0.3 0.2 0.2 0.2 0.2 3

 4 LM474022005 Debt securities 311.1 403.1 374.2 375.9 387.2 403.1 414.7 425.8 400.8 4

 5 FL473069153 Open market paper 0.3 0.3 0.2 0.1 0.0 0.3 0.5 0.4 0.1 5

 6 LM473061105 Treasury securities 45.5 62.6 50.8 51.5 55.0 62.6 74.0 79.5 82.5 6

 7 LM473061705 Agency- and GSE-backed securities 239.0 307.5 293.9 295.1 301.5 307.5 305.7 311.8 284.3 7

 8 LM473062005 Municipal securities 10.1 12.3 10.9 11.5 12.0 12.3 11.9 11.6 11.8 8

 9 LM473063005 Corporate and foreign bonds 16.2 20.6 18.5 17.8 18.7 20.6 22.6 22.6 22.2 9

 10 FL474023000 Loans 1193.9 1286.2 1198.0 1223.1 1251.8 1286.2 1328.3 1411.4 1497.0 10

 11 FL473068005 Depository institution loans n.e.c. 78.7 86.6 81.7 82.0 83.9 86.6 187.3 204.7 234.2 11

 12 FL473065100 One-to-four-family residential mortgages 610.1 667.5 613.4 628.7 645.9 667.5 593.8 622.4 649.7 12

 13 FL473066000 Consumer credit 505.1 532.0 502.9 512.4 522.0 532.0 547.2 584.3 613.1 13

 14 LM473064205 Mutual fund shares 4.8 7.1 6.1 6.9 7.4 7.1 7.4 5.7 5.8 14

 15 FL473090005 Miscellaneous assets 124.8 130.8 116.2 130.5 136.0 130.8 133.2 111.3 102.2 15

 16 FL474190005 Total liabilities 1646.1 1854.9 1765.3 1775.2 1810.9 1854.9 1905.9 1920.0 1957.0 16

 17 FL474110005 Net interbank liabilities -35.2 -30.8 -28.9 -33.3 -34.3 -30.8 -47.8 -57.4 -57.6 17

 18 FL473127003 Checkable deposits 297.1 374.2 341.1 348.8 361.0 374.2 395.2 390.1 409.4 18

 19 FL473130005 Time and savings deposits 1317.7 1442.5 1390.2 1395.4 1417.4 1442.5 1486.6 1494.3 1486.0 19

 20 FL472150053 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL473169333 Loans (other loans and advances) 43.3 40.7 40.3 39.2 39.4 40.7 42.3 59.9 77.6 21

 22 FL473193005 Miscellaneous liabilities 23.3 28.3 22.6 25.2 27.4 28.3 29.5 33.1 41.6 22

 Memo:

 23 FL473139103 Uninsured deposits (1) 119.5 153.8 128.5 134.6 143.0 153.8 161.0 163.3 165.1 23

(1) Includes checkable deposits (line 18) and time and savings deposits (line 19) not insured by the National Credit Union Share Insurance Fund.
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Z.1, December 9, 2022 91

L.115 Property-Casualty Insurance Companies

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL514090005 Total financial assets 2879.0 3100.2 2898.5 3022.3 3038.1 3100.2 3057.1 2926.2 2914.2 1

 2 FL513020005 Checkable deposits and currency 50.2 72.7 59.2 55.9 70.1 72.7 57.4 54.6 62.3 2

 3 FL513034005 Money market fund shares 34.7 31.5 36.6 30.8 34.4 31.5 23.1 21.5 24.0 3

 4 FL512051005 Security repurchase agreements 2.2 2.2 2.3 2.5 2.3 2.2 1.4 1.7 1.9 4

 5 LM514022005 Debt securities 1270.2 1320.1 1249.7 1308.4 1311.6 1320.1 1231.8 1179.5 1144.9 5

 6 FL513069105 Open market paper 8.9 4.5 8.1 7.8 5.8 4.5 3.0 3.5 4.0 6

 7 LM513061105 Treasury securities 157.5 187.9 164.7 186.7 186.3 187.9 161.6 167.0 175.4 7

 8 LM513061705 Agency- and GSE-backed securities 145.3 136.0 140.6 138.8 139.4 136.0 132.0 130.0 125.9 8

 9 LM513062005 Municipal securities 297.9 289.4 293.1 294.6 289.5 289.4 270.9 260.0 246.2 9

 10 LM513063005 Corporate and foreign bonds 660.7 702.4 643.2 680.5 690.6 702.4 664.3 619.1 593.5 10

 11 FL513065505 Loans (commercial mortgages) 24.3 27.7 24.3 25.5 26.4 27.7 29.5 30.2 30.6 11

 12 LM513064105 Corporate equities 518.6 642.8 546.1 584.4 588.4 642.8 674.0 594.5 568.6 12

 13 LM513064205 Mutual fund shares 29.7 36.2 31.7 33.3 33.1 36.2 34.2 27.2 26.4 13

 14 FL513070005 Trade receivables 210.7 233.4 220.5 229.2 239.4 233.4 244.4 253.8 254.9 14

 15 LM513092003 U.S. direct investment abroad 256.7 307.1 275.4 291.8 291.8 307.1 288.0 243.0 221.4 15

 16 FL513090005 Miscellaneous assets 481.9 426.6 452.7 460.3 440.7 426.6 473.2 520.1 579.1 16

 17 FL513092403 Equity in FHLB 0.7 0.6 0.7 0.7 0.6 0.6 0.5 0.4 0.3 17

 18 FL513076005 Policy payables (1) 322.4 349.8 329.3 336.1 343.0 349.8 352.8 362.3 374.5 18

 19 FL513094703 Receivables due from holding company parents 0.0 0.4 0.0 0.0 0.0 0.4 0.0 0.2 1.3 19

 20 FL513093005 Other 158.7 75.8 122.8 123.5 97.1 75.8 119.9 157.2 203.0 20

 21 FL514190005 Total liabilities 1802.2 1961.1 1857.4 1897.7 1964.0 1961.1 2010.2 2041.3 2103.6 21

 22 FL512151003 Security repurchase agreements 0.2 0.1 0.2 0.2 0.2 0.1 0.1 0.1 0.2 22

 23 FL513169333 Loans (other loans and advances) 10.0 7.0 9.3 8.4 7.5 7.0 6.3 5.8 5.1 23

 24 FL513170005 Trade payables 90.5 109.5 95.3 100.0 104.8 109.5 110.5 113.4 117.3 24

 25 FL513178005 Taxes payable 10.5 10.3 12.2 9.6 8.8 10.3 11.3 8.7 8.2 25

 26 LM513192305 Foreign direct investment: intercompany debt 11.8 11.0 11.6 10.8 10.7 11.0 10.6 10.5 10.5 26

 27 FL513190005 Miscellaneous liabilities 1679.1 1823.2 1728.7 1768.7 1832.2 1823.2 1871.5 1902.8 1962.4 27

 28 FL513194603 Equity investment by holding company parent 2.5 3.6 2.3 3.6 3.9 3.6 4.2 4.4 4.5 28

 29 FL513194703 Other investment by holding company parent 0.4 0.3 1.3 0.8 0.5 0.3 0.0 0.0 0.0 29

 30 FL513176005 Policy payables 1393.5 1504.7 1425.1 1451.5 1500.7 1504.7 1517.3 1558.3 1611.0 30

 31 FL513193005 Other 282.8 314.6 300.0 312.8 327.1 314.6 350.1 340.1 346.9 31

 Memo:

 32 LM513192103 Foreign direct investment: equity 239.3 285.6 246.0 265.3 261.4 285.6 272.0 229.8 221.3 32

 33 FL513200003 Securities lending (2) 5.5 7.9 6.7 8.6 8.5 7.9 8.4 8.9 8.5 33

 34 FL514090023 Financial guaranty insurers’ total assets (3) 20.9 20.8 21.6 21.0 20.2 20.8 21.0 19.9 19.7 34

 35 FL514090033 Mortgage guaranty insurers’ total assets (3) 30.1 32.1 31.0 31.7 32.0 32.1 32.2 31.9 32.5 35

 36 FL513176015 Direct reserve 1175.2 1269.3 1202.5 1224.6 1269.5 1269.3 1279.9 1314.5 1359.0 36

 37 FL513176025 Reinsured to U.S. reinsurers 159.1 170.3 161.9 164.7 167.5 170.3 171.7 176.4 182.3 37

 38 FL263176005 Reinsured to non-U.S. reinsurers 163.3 179.5 167.3 171.4 175.5 179.5 181.0 185.9 192.2 38

 39 FL263076005 Reinsured from non-U.S. reinsurers 59.1 65.1 60.6 62.1 63.6 65.1 65.7 67.4 69.7 39

(1) Policy payables due from reinsurers.

(2) Liability for securities lending collateral, included in line 29.

(3) Total nonfinancial and financial assets of financial guaranty insurers and mortgage guaranty insurers as reported in statutory financial statements, with securities reported at book/adjusted

 carrying value.
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92 Z.1, December 9, 2022

L.116 Life Insurance Companies (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL544090005 Total financial assets 9420.3 9862.8 9314.7 9657.3 9695.9 9862.8 9404.6 8844.6 8608.3 1

 2 FL543020005 Checkable deposits and currency 127.7 119.3 118.3 133.2 127.3 119.3 111.8 107.3 112.3 2

 3 FL543034005 Money market fund shares 66.5 64.2 63.5 69.4 67.3 64.2 61.7 73.1 79.6 3

 4 FL542051075 Security repurchase agreements 8.2 9.8 7.7 8.3 9.4 9.8 9.0 7.8 9.0 4

 5 LM544022005 Debt securities 4431.1 4452.1 4247.6 4368.4 4412.2 4452.1 4170.6 3912.5 3760.0 5

 6 FL543069105 Open market paper 34.0 41.0 32.6 34.8 38.7 41.0 39.0 36.3 40.8 6

 7 LM543061105 Treasury securities 240.7 231.4 227.2 234.4 237.5 231.4 213.2 201.2 196.1 7

 8 LM543061705 Agency- and GSE-backed securities 366.4 312.3 342.5 334.4 325.8 312.3 293.5 281.1 273.1 8

 9 LM543062005 Municipal securities 234.2 234.9 232.0 234.9 233.3 234.9 219.4 210.8 202.2 9

 10 LM543063005 Corporate and foreign bonds 3555.8 3632.5 3413.3 3529.8 3576.9 3632.5 3405.5 3183.2 3047.7 10

 11 FL544023005 Loans 808.2 858.3 811.0 822.7 839.9 858.3 874.2 888.9 899.8 11

 12 FL543069005 Other loans and advances 163.5 167.4 164.2 165.1 166.9 167.4 166.1 166.0 169.0 12

 13 FL543065005 Mortgages 644.7 690.9 646.8 657.6 673.0 690.9 708.1 722.9 730.7 13

 14 LM543064105 Corporate equities 730.6 763.4 740.0 770.9 759.2 763.4 714.7 612.1 565.3 14

 15 LM543064205 Mutual fund shares 1701.3 1842.9 1731.5 1827.6 1785.9 1842.9 1694.8 1444.2 1353.9 15

 16 FL543070005 Trade receivables 130.4 140.5 133.0 135.5 138.0 140.5 143.4 147.4 151.5 16

 17 FL543040005 Life insurance reserves 262.7 284.9 268.3 273.8 279.4 284.9 285.7 288.8 291.6 17

 18 FL543050005 Pension entitlements 291.3 380.0 313.4 335.7 357.8 380.0 384.1 388.9 392.3 18

 19 LM543092073 U.S. direct investment abroad 92.4 83.0 92.2 91.9 85.9 83.0 78.6 63.9 57.9 19

 20 FL543090005 Miscellaneous assets 769.8 864.4 788.4 820.0 833.7 864.4 876.0 909.6 935.2 20

 21 FL543094703 Balances due from holding company parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL543092473 Equity in FHLB 7.8 9.1 8.5 8.7 8.7 9.1 9.6 9.1 8.5 22

 23 FL543077073 Deferred and unpaid life ins. premiums 36.6 38.1 38.7 37.9 37.9 38.1 39.8 39.0 39.1 23

 24 FL543095105 Other reserves 86.4 90.6 87.5 88.5 89.5 90.6 91.4 92.2 93.3 24

 25 FL543093005 Other 639.1 726.7 653.6 684.9 697.6 726.7 735.2 769.3 794.3 25

 26 FL544190005 Total liabilities 8383.1 8888.4 8438.7 8656.2 8715.3 8888.4 8738.4 8446.1 8411.0 26

 27 FL542151073 Security repurchase agreements 18.6 20.1 16.8 17.7 19.8 20.1 18.5 16.1 18.5 27

 28 FL543169373 Loans (other loans and advances) 103.9 110.8 112.3 108.8 107.3 110.8 121.9 129.2 132.2 28

 29 FL543170005 Trade payables 288.1 355.0 304.8 321.6 338.3 355.0 362.6 368.7 377.6 29

 30 FL543140005 Life insurance reserves 2248.9 2344.0 2257.6 2301.6 2320.7 2344.0 2322.0 2294.9 2297.7 30

 31 FL543150005 Pension entitlements (2) 3793.8 4016.9 3807.3 3926.7 3936.5 4016.9 3865.4 3619.1 3546.5 31

 32 FL543178075 Taxes payable 7.5 7.0 8.7 6.3 6.3 7.0 6.1 5.1 5.2 32

 33 LM543192375 Foreign direct investment: intercompany debt 13.1 12.1 13.0 12.3 11.9 12.1 11.3 11.1 10.6 33

 34 FL543190005 Miscellaneous liabilities 1909.1 2022.5 1918.3 1961.2 1974.5 2022.5 2030.6 2001.9 2022.6 34

 35 FL543194603 Equity investment by holding company parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 FL543194703 Other investment by holding company parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FL673090543 Funding agreements backing securities (3) 114.9 155.4 126.0 141.5 152.2 155.4 169.9 172.0 171.3 37

 38 FL543195005 Other reserves (4) 445.8 462.8 449.3 450.8 457.1 462.8 467.8 467.7 472.0 38

 39 FL593095005 Unallocated insurance contracts 889.8 936.2 893.1 916.6 919.3 936.2 918.5 885.3 876.8 39

 40 FL543193005 Other 458.6 468.1 449.8 452.3 445.9 468.1 474.3 476.8 502.6 40

 Memo:

 41 LM543192173 Foreign direct investment: equity 265.3 313.5 274.8 301.1 292.0 313.5 291.3 243.1 232.8 41

 42 FL543200073 Securities lending (5) 48.1 54.5 52.3 55.4 58.3 54.5 56.8 50.3 44.1 42

 43 FL543176015 Direct reserve 7099.6 7477.2 7133.8 7323.9 7356.5 7477.2 7311.0 7010.5 6934.1 43

 44 FL543176025 Reinsured to U.S. reinsurers 860.9 917.1 873.6 893.0 902.2 917.1 912.7 905.3 907.6 44

 45 FL543076035 Reinsured to non-U.S. reinsurers 549.1 689.8 584.2 619.6 654.6 689.8 694.9 702.5 708.7 45

 46 FL543176035 Reinsured from non-U.S. reinsurers 5.4 2.3 4.6 3.9 3.1 2.3 2.3 2.4 2.4 46

(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 37.

(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.

(5) Liability for securities lending collateral, included in line 38.
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L.116.g Life Insurance Companies: General Accounts

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL544090075 Total financial assets 6361.3 6573.9 6230.3 6443.6 6504.5 6573.9 6321.1 6121.9 6005.4 1

 2 FL543020075 Checkable deposits and currency 90.3 85.6 83.5 99.3 93.7 85.6 78.2 74.7 79.6 2

 3 FL543034075 Money market fund shares 36.3 37.4 34.3 41.6 40.1 37.4 31.1 39.7 45.6 3

 4 FL542051075 Security repurchase agreements 8.2 9.8 7.7 8.3 9.4 9.8 9.0 7.8 9.0 4

 5 LM544022075 Debt securities 3917.0 3916.3 3753.4 3869.9 3898.9 3916.3 3638.6 3404.0 3249.2 5

 6 FL543069175 Open market paper 20.9 22.8 19.0 20.1 22.5 22.8 21.0 18.8 23.2 6

 7 LM543061175 Treasury securities 187.0 175.0 175.5 182.2 183.6 175.0 157.2 146.8 141.5 7

 8 LM543061775 Agency- and GSE-backed securities 266.9 230.8 251.8 248.0 242.1 230.8 212.5 202.4 194.0 8

 9 LM543062075 Municipal securities 221.5 221.6 219.7 222.6 220.6 221.6 206.2 198.0 189.4 9

 10 LM543063075 Corporate and foreign bonds 3220.6 3266.0 3087.4 3197.1 3230.1 3266.0 3041.6 2838.1 2701.0 10

 11 FL544023075 Loans 767.2 807.5 769.9 779.4 793.3 807.5 823.8 839.9 850.6 11

 12 FL543069075 Other loans and advances 163.5 167.4 164.2 165.1 166.9 167.4 166.1 166.0 169.0 12

 13 FL543065075 Mortgages 603.7 640.1 605.7 614.3 626.4 640.1 657.7 674.0 681.6 13

 14 LM543064175 Corporate equities 110.3 133.4 118.7 126.0 138.5 133.4 141.0 130.4 116.7 14

 15 LM543064275 Mutual fund shares 7.8 7.9 7.8 8.3 7.5 7.9 7.0 5.9 6.3 15

 16 FL543070075 Trade receivables 130.4 140.4 132.9 135.4 137.9 140.4 143.3 147.3 151.4 16

 17 FL543040075 Life insurance reserves 262.7 284.9 268.3 273.8 279.4 284.9 285.7 288.8 291.6 17

 18 FL543050075 Pension entitlements 289.8 378.5 312.0 334.2 356.3 378.5 382.8 387.7 391.1 18

 19 LM543092073 U.S. direct investment abroad 92.4 83.0 92.2 91.9 85.9 83.0 78.6 63.9 57.9 19

 20 FL543090075 Miscellaneous assets 648.7 689.2 649.7 675.4 663.5 689.2 702.1 731.7 756.4 20

 21 FL544190075 Total liabilities 5309.8 5588.5 5340.9 5430.1 5512.3 5588.5 5645.0 5717.0 5803.5 21

 22 FL542151073 Security repurchase agreements 18.6 20.1 16.8 17.7 19.8 20.1 18.5 16.1 18.5 22

 23 FL543169373 Loans (other loans and advances) 103.9 110.8 112.3 108.8 107.3 110.8 121.9 129.2 132.2 23

 24 FL543170075 Trade payables 287.5 354.3 304.2 320.9 337.6 354.3 361.9 368.1 377.0 24

 25 FL543140075 Life insurance reserves 1835.4 1910.4 1843.1 1872.6 1897.2 1910.4 1915.5 1936.3 1955.1 25

 26 FL543150075 Pension entitlements (1) 1519.2 1578.4 1515.1 1540.3 1568.0 1578.4 1578.7 1601.4 1617.2 26

 27 FL543178075 Taxes payable 7.5 7.0 8.7 6.3 6.3 7.0 6.1 5.1 5.2 27

 28 LM543192375 Foreign direct investment: intercompany debt 13.1 12.1 13.0 12.3 11.9 12.1 11.3 11.1 10.6 28

 29 FL543190075 Miscellaneous liabilities 1524.8 1595.5 1527.7 1551.2 1564.1 1595.5 1631.1 1649.8 1687.7 29

 Memo:

 30 LM543192173 Foreign direct investment: equity 265.3 313.5 274.8 301.1 292.0 313.5 291.3 243.1 232.8 30

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 29).

L.116.s Life Insurance Companies: Separate Accounts

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

 1 FL544090085 Total financial assets 3059.0 3288.9 3084.4 3213.6 3191.4 3288.9 3083.5 2722.7 2602.9 1

 2 FL543020083 Checkable deposits and currency 37.3 33.8 34.8 33.9 33.6 33.8 33.5 32.6 32.7 2

 3 FL543034385 Money market fund shares 30.2 26.8 29.2 27.7 27.2 26.8 30.6 33.4 34.1 3

 4 LM544022085 Debt securities 514.1 535.8 494.1 498.5 513.3 535.8 532.0 508.5 510.8 4

 5 FL543069183 Open market paper 13.1 18.1 13.5 14.7 16.2 18.1 18.0 17.5 17.6 5

 6 LM543061183 Treasury securities 53.7 56.4 51.7 52.2 53.9 56.4 56.0 54.4 54.6 6

 7 LM543061783 Agency- and GSE-backed securities 99.5 81.5 90.7 86.5 83.7 81.5 81.0 78.7 79.0 7

 8 LM543062083 Municipal securities 12.7 13.3 12.2 12.3 12.7 13.3 13.2 12.8 12.9 8

 9 LM543063085 Corporate and foreign bonds 335.2 366.5 325.9 332.7 346.8 366.5 363.9 345.2 346.7 9

 10 FL544023085 Loans 41.0 50.7 41.2 43.3 46.6 50.7 50.4 48.9 49.2 10

 11 FL543069483 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL543065083 Mortgages 41.0 50.7 41.2 43.3 46.6 50.7 50.4 48.9 49.2 12

 13 LM543064185 Corporate equities 620.3 630.0 621.4 644.8 620.6 630.0 573.7 481.7 448.5 13

 14 LM543064385 Mutual fund shares 1693.5 1835.1 1723.7 1819.3 1778.4 1835.1 1687.9 1438.3 1347.6 14

 15 FL543070085 Trade receivables 0.0 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.1 15

 16 FL543040085 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FL543050085 Pension entitlements 1.4 1.4 1.4 1.5 1.4 1.4 1.4 1.2 1.1 17

 18 FL543090085 Miscellaneous assets 121.2 175.2 138.7 144.6 170.2 175.2 174.0 177.9 178.7 18

 19 FL544190085 Total liabilities 3073.2 3299.9 3097.8 3226.1 3203.0 3299.9 3093.4 2729.1 2607.5 19

 20 FL543170085 Trade payables 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.6 0.6 20

 21 LM543140085 Life insurance reserves 413.6 433.6 414.4 429.0 423.4 433.6 406.5 358.6 342.6 21

 22 LM543150085 Pension entitlements (1) 2274.6 2438.5 2292.1 2386.4 2368.5 2438.5 2286.7 2017.8 1929.3 22

 23 FL543190085 Miscellaneous liabilities 384.4 427.0 390.6 409.9 410.4 427.0 399.5 352.1 334.9 23

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 23).
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L.117 Private and Public Pension Funds (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL594090005 Total financial assets (2) 25994.6 27662.6 26379.2 27019.3 27083.4 27662.6 27212.0 26150.2 25863.7 1

 2 FL593020005 Checkable deposits and currency 49.0 50.3 46.3 47.9 55.8 50.3 51.2 54.2 55.8 2

 3 FL593030005 Time and savings deposits 19.0 13.5 17.8 16.4 14.6 13.5 9.7 10.2 8.4 3

 4 FL593034005 Money market fund shares 229.2 249.2 235.4 241.1 254.8 249.2 260.8 265.7 272.9 4

 5 FL592051005 Security repurchase agreements 26.2 56.2 38.2 46.0 39.4 56.2 47.6 51.1 52.7 5

 6 LM594022005 Debt securities 5120.7 5377.0 5040.5 5190.2 4996.5 5377.0 5237.0 5110.4 5057.7 6

 7 FL593069105 Open market paper 49.3 57.1 56.3 59.7 60.8 57.1 66.2 65.4 66.9 7

 8 LM593061105 Treasury securities (3) 3107.1 3357.6 3077.2 3158.7 2982.7 3357.6 3314.9 3327.4 3347.2 8

 9 LM593061705 Agency- and GSE-backed securities 437.8 425.5 429.8 431.0 438.3 425.5 418.3 408.8 401.2 9

 10 LM593062045 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM593063005 Corporate and foreign bonds 1526.5 1536.8 1477.1 1540.7 1514.7 1536.8 1437.6 1308.8 1242.3 11

 12 FL594023005 Loans 31.4 32.8 31.9 31.8 212.5 32.8 31.5 32.1 32.2 12

 13 FL313169003 Other loans and advances 0.0 0.0 0.0 0.0 180.6 0.0 0.0 0.0 0.0 13

 14 FL593065005 Mortgages 31.4 32.8 31.9 31.8 31.9 32.8 31.5 32.1 32.2 14

 15 LM593064105 Corporate equities 6657.8 8010.1 6991.3 7452.1 7381.5 8010.1 7592.8 6477.5 6062.2 15

 16 LM593064205 Mutual fund shares 5341.4 5815.2 5489.3 5775.4 5735.4 5815.2 5457.3 4715.6 4399.0 16

 17 FL593090005 Miscellaneous assets 8519.9 8058.2 8488.6 8218.5 8392.9 8058.2 8524.3 9433.3 9922.7 17

 18 FL593095005 Unallocated insurance contracts (4) 889.8 936.2 893.1 916.6 919.3 936.2 918.5 885.3 876.8 18

 19 FL573074005 Contributions receivable 77.7 74.9 77.1 76.5 75.7 74.9 74.2 73.5 72.7 19

 20 FL593073005 Claims of pension fund on sponsor (5) 5769.8 4985.2 5691.7 5335.5 5448.9 4985.2 5515.0 6400.9 6862.0 20

 21 FL593093005 Other 1782.7 2061.9 1826.7 1890.0 1949.0 2061.9 2016.5 2073.5 2111.3 21

 22 FL594190005 Pension entitlements (liabilities) (6) 26166.4 27871.1 26568.7 27218.8 27287.9 27871.1 27441.8 26358.6 26074.3 22

 Memo:

 Funded status of defined benefit plans:

 23 FL594190045 Pension entitlements 16456.7 16849.1 16554.2 16651.9 16750.8 16849.1 16945.9 17040.6 17136.5 23

 24 FL592000075 Funded by assets (7) 10686.9 11863.8 10862.5 11316.4 11301.9 11863.8 11430.9 10639.6 10274.5 24

 25 FL593073045 Unfunded (line 20) 5769.8 4985.2 5691.7 5335.5 5448.9 4985.2 5515.0 6400.9 6862.0 25

 26 FL153050015 Household retirement assets (8) 41547.2 45013.0 42323.0 43771.5 43787.4 45013.0 43716.2 40935.7 ND 26

 27 FL594190045 Defined benefit plans 16456.7 16849.1 16554.2 16651.9 16750.8 16849.1 16945.9 17040.6 17136.5 27

 28 FL594090055 Defined contribution plans 9709.7 11022.0 10014.6 10566.9 10537.1 11022.0 10496.0 9318.0 8937.9 28

 29 LM893131573 Individual retirement plans (IRAs) (9) 12333.0 13913.0 12695.0 13396.0 13336.0 13913.0 13168.0 11669.0 ND 29

 30 FL543150015 Annuities at life insurance companies (10) 3047.8 3228.9 3059.3 3156.7 3163.5 3228.9 3106.4 2908.1 ND 30

(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) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(8) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(9) IRA assets are not included above. See memo items on table L.227 for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs are excluded. They are included in line 29.
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L.118 Private Pension Funds (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL574090005 Total financial assets (2) 12101.2 13314.5 12380.2 12883.6 12868.5 13314.5 12828.6 11773.3 11445.3 1

 2 FL573020005 Checkable deposits and currency 20.0 21.6 20.4 20.8 21.1 21.6 21.9 22.2 22.7 2

 3 FL573030005 Time and savings deposits 16.8 10.9 15.6 14.1 12.6 10.9 9.5 8.3 6.6 3

 4 FL573034005 Money market fund shares 205.5 230.2 209.7 217.3 223.3 230.2 235.4 241.6 248.7 4

 5 FL572051005 Security repurchase agreements 18.4 25.8 19.9 21.8 23.7 25.8 27.4 29.0 31.1 5

 6 LM574022005 Debt securities 1719.6 1684.4 1639.6 1686.4 1682.7 1684.4 1579.9 1506.6 1449.0 6

 7 FL573069105 Open market paper 40.7 42.5 41.0 41.6 42.0 42.5 42.9 43.2 43.7 7

 8 LM573061105 Treasury securities 462.8 469.9 442.7 458.4 462.7 469.9 447.6 435.7 421.7 8

 9 LM573061705 Agency- and GSE-backed securities 236.2 222.4 227.6 228.9 226.3 222.4 214.9 212.5 209.2 9

 10 LM573063005 Corporate and foreign bonds 979.9 949.6 928.3 957.4 951.7 949.6 874.5 815.1 774.4 10

 11 FL573065005 Loans (mortgages) 24.4 24.8 24.5 24.6 24.7 24.8 24.8 24.9 25.0 11

 12 LM573064105 Corporate equities 3395.7 4093.9 3582.1 3835.1 3791.6 4093.9 3830.9 3148.7 2960.2 12

 13 LM573064205 Mutual fund shares 4917.5 5500.8 5072.4 5345.5 5297.7 5500.8 5147.6 4453.5 4183.7 13

 14 FL573090005 Miscellaneous assets 1783.3 1722.2 1796.2 1718.1 1791.1 1722.2 1951.1 2338.5 2518.4 14

 15 FL573095005 Unallocated insurance contracts (3) 631.6 660.4 632.4 649.0 649.8 660.4 641.5 611.4 602.6 15

 16 FL573074005 Contributions receivable 77.7 74.9 77.1 76.5 75.7 74.9 74.2 73.5 72.7 16

 17 FL573073005 Claims of pension fund on sponsor (4) 118.9 -76.2 112.2 -16.6 31.4 -76.2 151.0 542.0 703.2 17

 18 FL573093005 Other 955.0 1063.2 974.5 1009.1 1034.2 1063.2 1084.4 1111.7 1139.9 18

 19 FL574190005 Pension entitlements (liabilities) (5) 12137.7 13351.0 12416.8 12920.1 12905.0 13351.0 12865.1 11809.8 11481.8 19

 Memo:

 Funded status of defined benefit plans:

 20 FL574190043 Pension entitlements 3656.5 3702.6 3669.0 3681.1 3692.4 3702.6 3712.8 3723.0 3733.2 20

 21 FL572000075 Funded by assets (6) 3537.6 3778.8 3556.9 3697.7 3661.0 3778.8 3561.8 3181.0 3030.0 21

 22 FL573073005 Unfunded (line 17) 118.9 -76.2 112.2 -16.6 31.4 -76.2 151.0 542.0 703.2 22

 Total financial assets

 23 FL574090045 Defined benefit plans (7) 3620.0 3666.1 3632.5 3644.6 3655.9 3666.1 3676.3 3686.5 3696.7 23

 24 FL574090055 Defined contribution plans (8) 8481.2 9648.4 8747.8 9239.0 9212.6 9648.4 9152.3 8086.8 7748.6 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) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; 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 is available on tables L.118.b.

(8) Additional detail on defined contribution plans is available on table L.118.c.
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L.118.b Private Pension Funds: Defined Benefit Plans

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL574090045 Total financial assets (1) 3620.0 3666.1 3632.5 3644.6 3655.9 3666.1 3676.3 3686.5 3696.7 1

 2 FL573020043 Checkable deposits and currency 12.2 13.7 12.5 12.9 13.3 13.7 14.0 14.3 14.8 2

 3 FL573030043 Time and savings deposits 11.9 5.3 10.6 8.8 7.2 5.3 3.9 2.5 0.6 3

 4 FL573034043 Money market fund shares 48.6 56.8 50.3 52.4 54.5 56.8 58.6 60.3 62.6 4

 5 FL572051043 Security repurchase agreements 18.4 25.8 19.9 21.8 23.7 25.8 27.4 29.0 31.1 5

 6 LM574022045 Debt securities 1192.8 1163.5 1137.2 1167.0 1163.7 1163.5 1085.6 1026.1 979.8 6

 7 FL573069143 Open market paper 29.2 29.6 29.3 29.4 29.5 29.6 29.7 29.8 29.9 7

 8 LM573061143 Treasury securities 268.8 264.3 255.8 261.6 262.3 264.3 250.4 241.8 232.2 8

 9 LM573061743 Agency- and GSE-backed securities 132.4 130.0 129.6 130.9 131.0 130.0 124.1 121.3 117.4 9

 10 LM573063043 Corporate and foreign bonds 762.4 739.6 722.5 745.2 741.0 739.6 681.5 633.2 600.4 10

 11 FL573065043 Loans (mortgages) 14.5 14.6 14.5 14.6 14.6 14.6 14.7 14.7 14.7 11

 12 LM573064143 Corporate equities 1331.1 1539.9 1391.1 1474.6 1442.2 1539.9 1428.8 1161.9 1075.3 12

 13 LM573064243 Mutual fund shares 406.6 434.4 414.9 432.5 424.1 434.4 402.1 345.9 320.5 13

 14 FL573090045 Miscellaneous assets 583.9 412.1 581.6 460.0 512.7 412.1 641.2 1031.8 1197.3 14

 15 FL573095405 Unallocated insurance contracts (2) 64.2 62.8 63.6 64.2 62.8 62.8 59.1 53.6 50.9 15

 16 FL573074043 Contributions receivable 37.6 33.3 36.7 35.6 34.5 33.3 32.4 31.5 30.2 16

 17 FL573073005 Claims of pension fund on sponsor (3) 118.9 -76.2 112.2 -16.6 31.4 -76.2 151.0 542.0 703.2 17

 18 FL573093043 Other 363.2 392.2 369.1 376.7 384.0 392.2 398.7 404.8 413.0 18

 19 FL574190043 Pension entitlements (liabilities) (4) 3656.5 3702.6 3669.0 3681.1 3692.4 3702.6 3712.8 3723.0 3733.2 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.118.c Private Pension Funds: Defined Contribution Plans (1)

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

 1 FL574090055 Total financial assets 8481.2 9648.4 8747.8 9239.0 9212.6 9648.4 9152.3 8086.8 7748.6 1

 2 FL573020033 Checkable deposits and currency 7.9 7.9 7.9 7.9 7.9 7.9 7.9 7.9 7.9 2

 3 FL573030033 Time and savings deposits 4.9 5.5 5.0 5.2 5.4 5.5 5.7 5.8 5.9 3

 4 FL573034055 Money market fund shares 156.8 173.4 159.4 164.8 168.8 173.4 176.8 181.3 186.1 4

 5 FL572051033 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 LM574022035 Debt securities 526.8 520.9 502.4 519.4 519.0 520.9 494.3 480.5 469.2 6

 7 FL573069133 Open market paper 11.5 12.9 11.7 12.2 12.5 12.9 13.2 13.4 13.8 7

 8 LM573061133 Treasury securities 194.1 205.6 186.9 196.9 200.4 205.6 197.2 193.9 189.5 8

 9 LM573061733 Agency- and GSE-backed securities 103.8 92.4 98.0 98.0 95.4 92.4 90.9 91.2 91.9 9

 10 LM573063033 Corporate and foreign bonds 217.5 209.9 205.7 212.3 210.7 209.9 193.0 181.9 174.1 10

 11 FL573065033 Loans (mortgages) 9.9 10.1 9.9 10.0 10.1 10.1 10.2 10.2 10.3 11

 12 LM573064133 Corporate equities 2064.6 2554.0 2191.0 2360.6 2349.4 2554.0 2402.1 1986.8 1885.0 12

 13 LM573064255 Mutual fund shares 4510.8 5066.4 4657.5 4913.0 4873.6 5066.4 4745.5 4107.6 3863.2 13

 14 FL573090055 Miscellaneous assets 1199.3 1310.1 1214.6 1258.1 1278.4 1310.1 1309.9 1306.7 1321.1 14

 15 FL573095505 Unallocated insurance contracts (2) 567.4 597.6 568.8 584.8 587.0 597.6 582.3 557.7 551.7 15

 16 FL573074033 Contributions receivable 40.1 41.6 40.4 40.9 41.2 41.6 41.8 42.1 42.4 16

 17 FL573093055 Other 591.8 671.0 605.4 632.4 650.2 671.0 685.7 706.9 726.9 17

 18 FL574090055 Pension entitlements (liabilities) 8481.2 9648.4 8747.8 9239.0 9212.6 9648.4 9152.3 8086.8 7748.6 18

(1) Includes 401(k) and 403(b) type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts; series begins 1985:Q4.
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L.119 Federal Government Employee Retirement Funds

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL344090005 Total financial assets (1) 4391.3 4563.9 4438.1 4498.0 4513.7 4563.9 4570.4 4516.2 4505.8 1

 2 FL343020033 Checkable deposits and currency 1.0 1.5 1.1 1.2 1.3 1.5 1.6 1.7 1.9 2

 3 LM344022005 Debt securities 2326.6 2483.6 2317.7 2332.6 2140.4 2483.6 2512.1 2535.2 2580.0 3

 4 LM343061105 Treasury securities (2) 2297.5 2456.8 2289.7 2304.3 2113.7 2456.8 2487.3 2512.9 2559.2 4

 5 LM343061705 Agency- and GSE-backed securities 11.7 11.7 11.3 11.3 10.8 11.7 11.0 10.2 9.7 5

 6 LM343062033 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM343063005 Corporate and foreign bonds 17.3 15.0 16.6 16.9 15.8 15.0 13.7 12.0 11.1 7

 8 FL313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 180.6 0.0 0.0 0.0 0.0 8

 9 LM343064105 Corporate equities 418.6 524.0 449.2 487.6 483.8 524.0 485.6 410.1 385.1 9

 10 FL343073045 Claims of pension fund on sponsor (misc. assets) (4) 1645.2 1554.8 1670.1 1676.6 1707.6 1554.8 1571.1 1569.1 1538.9 10

 11 FL344090005 Pension entitlements (liabilities) (5) 4391.3 4563.9 4438.1 4498.0 4513.7 4563.9 4570.4 4516.2 4505.8 11

 Memo:

 Funded status of defined benefit plans:

 12 FL344090045 Pension entitlements 3656.7 3737.0 3676.5 3695.8 3716.3 3737.0 3756.3 3773.5 3791.9 12

 13 FL342000075 Funded by assets (6) 2011.5 2182.2 2006.4 2019.2 2008.7 2182.2 2185.2 2204.4 2253.0 13

 14 FL343073045 Unfunded (line 10) 1645.2 1554.8 1670.1 1676.6 1707.6 1554.8 1571.1 1569.1 1538.9 14

 Total financial assets

 15 FL344090045 Defined benefit plans (7) 3656.7 3737.0 3676.5 3695.8 3716.3 3737.0 3756.3 3773.5 3791.9 15

 16 FL344090055 Defined contribution plans (8) 734.6 826.9 761.5 802.2 797.4 826.9 814.1 742.7 713.9 16

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Comprised primarily of nonmarketable Treasury securities.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of projected 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 less defined benefit claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans is available on table L.119.b.

(8) Additional detail on defined contribution plans is available on table L.119.c.
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L.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL344090045 Total financial assets (2) 3656.7 3737.0 3676.5 3695.8 3716.3 3737.0 3756.3 3773.5 3791.9 1

 2 FL343020033 Checkable deposits and currency 1.0 1.5 1.1 1.2 1.3 1.5 1.6 1.7 1.9 2

 3 LM344022045 Debt securities 1994.7 2160.9 1988.8 2000.9 1988.1 2160.9 2164.7 2185.8 2235.8 3

 4 LM343061165 Treasury securities (3) 1989.3 2156.2 1983.1 1995.0 1983.5 2156.2 2160.2 2181.8 2232.2 4

 5 LM343061733 Agency- and GSE-backed securities 0.9 0.5 0.9 0.9 0.5 0.5 0.5 0.5 0.4 5

 6 LM343062033 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 LM343063033 Corporate and foreign bonds 4.5 4.1 4.7 4.9 4.0 4.1 3.9 3.5 3.2 7

 8 LM343064135 Corporate equities 15.8 19.8 16.5 17.2 19.2 19.8 18.9 16.8 15.3 8

 9 FL343073045 Claims of pension fund on sponsor (misc. assets) (4) 1645.2 1554.8 1670.1 1676.6 1707.6 1554.8 1571.1 1569.1 1538.9 9

 10 FL344190045 Pension entitlements (liabilities) (5) 3656.7 3737.0 3676.5 3695.8 3716.3 3737.0 3756.3 3773.5 3791.9 10

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Comprised primarily of nonmarketable Treasury securities.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

L.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 FL344090055 Total financial assets 734.6 826.9 761.5 802.2 797.4 826.9 814.1 742.7 713.9 1

 2 LM344022025 Debt securities 331.8 322.7 328.8 331.7 152.3 322.7 347.4 349.4 344.2 2

 3 LM343061155 Treasury securities (2) 308.2 300.6 306.6 309.3 130.2 300.6 327.0 331.1 327.0 3

 4 LM343061723 Agency- and GSE-backed securities 10.9 11.2 10.4 10.4 10.3 11.2 10.5 9.8 9.3 4

 5 LM343063023 Corporate and foreign bonds 12.8 10.8 11.8 12.0 11.7 10.8 9.8 8.5 7.8 5

 6 FL313169003 Loans (other loans and advances) (3) 0.0 0.0 0.0 0.0 180.6 0.0 0.0 0.0 0.0 6

 7 LM343064125 Corporate equities 402.8 504.2 432.7 470.4 464.6 504.2 466.7 393.3 369.8 7

 8 FL344090055 Pension entitlements (liabilities) 734.6 826.9 761.5 802.2 797.4 826.9 814.1 742.7 713.9 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable Treasury securities held in the G fund and marketable Treasury securities held in the F fund.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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Z.1, December 9, 2022 99

L.120 State and Local Government Employee Retirement Funds

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL224090005 Total financial assets (1) 9502.1 9784.1 9560.9 9637.8 9701.3 9784.1 9813.1 9860.7 9912.6 1

 2 FL223020043 Checkable deposits and currency 28.0 27.3 24.9 25.9 33.3 27.3 27.7 30.2 31.3 2

 3 FL223030043 Time and savings deposits 2.2 2.7 2.2 2.3 2.0 2.7 0.2 1.9 1.8 3

 4 FL223034005 Money market fund shares 23.7 19.0 25.7 23.8 31.5 19.0 25.3 24.1 24.2 4

 5 FL222051043 Security repurchase agreements 7.8 30.5 18.4 24.2 15.7 30.5 20.2 22.1 21.6 5

 6 LM224022045 Debt securities 1074.6 1209.1 1083.2 1171.2 1173.4 1209.1 1144.9 1068.6 1028.8 6

 7 FL223069143 Open market paper 8.6 14.6 15.3 18.1 18.7 14.6 23.3 22.2 23.3 7

 8 LM223061143 Treasury securities 346.8 430.9 344.8 395.9 406.3 430.9 380.0 378.7 366.3 8

 9 LM223061743 Agency- and GSE-backed securities 189.8 191.3 190.9 190.8 201.1 191.3 192.3 186.1 182.3 9

 10 LM223062043 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM223063045 Corporate and foreign bonds 529.3 572.2 532.2 566.3 547.3 572.2 549.4 481.6 456.8 11

 12 FL223065043 Loans (mortgages) 6.9 8.1 7.4 7.3 7.2 8.1 6.7 7.2 7.2 12

 13 LM223064145 Corporate equities 2843.5 3392.2 2959.9 3129.3 3106.2 3392.2 3276.3 2918.7 2716.9 13

 14 LM223064205 Mutual fund shares 423.9 314.4 416.8 430.0 437.7 314.4 309.7 262.1 215.3 14

 15 FL223090005 Miscellaneous assets 5091.4 4781.1 5022.3 4823.9 4894.2 4781.1 5002.0 5525.6 5865.4 15

 16 FL223095505 Unallocated insurance contracts (2) 258.2 275.8 260.8 267.6 269.5 275.8 277.0 274.0 274.2 16

 17 FL223073045 Claims of pension fund on sponsor (3) 4005.6 3506.6 3909.4 3675.4 3709.9 3506.6 3792.8 4289.8 4619.9 17

 18 FL223093005 Other 827.6 998.7 852.1 880.8 914.8 998.7 932.2 961.8 971.3 18

 19 FL224190005 Pension entitlements (liabilities) (4) 9637.4 9956.1 9713.9 9800.7 9869.2 9956.1 10006.4 10032.6 10086.7 19

 Memo:

 Funded status of defined benefit plans:

 20 FL224190043 Pension entitlements 9143.4 9409.4 9208.6 9274.9 9342.1 9409.4 9476.7 9544.1 9611.4 20

 21 FL222000075 Funded by assets (5) 5137.8 5902.8 5299.2 5599.5 5632.2 5902.8 5683.9 5254.2 4991.5 21

 22 FL223073045 Unfunded (line 17) 4005.6 3506.6 3909.4 3675.4 3709.9 3506.6 3792.8 4289.8 4619.9 22

 Total financial assets

 23 FL224090045 Defined benefit plans (6) 9008.2 9237.4 9055.7 9112.0 9174.2 9237.4 9283.4 9372.1 9437.2 23

 24 FL224090055 Defined contribution plans (7) 493.9 546.7 505.3 525.8 527.1 546.7 529.6 488.5 475.4 24

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of projected 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 is available on table L.120.b.

(7) Additional detail on defined contribution plans is available on table L.120.c.
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100 Z.1, December 9, 2022

L.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL224090045 Total financial assets (1) 9008.2 9237.4 9055.7 9112.0 9174.2 9237.4 9283.4 9372.1 9437.2 1

 2 FL223020043 Checkable deposits and currency 28.0 27.3 24.9 25.9 33.3 27.3 27.7 30.2 31.3 2

 3 FL223030043 Time and savings deposits 2.2 2.7 2.2 2.3 2.0 2.7 0.2 1.9 1.8 3

 4 FL223034043 Money market fund shares 21.3 16.9 23.4 21.6 29.4 16.9 23.2 22.0 22.1 4

 5 FL222051043 Security repurchase agreements 7.8 30.5 18.4 24.2 15.7 30.5 20.2 22.1 21.6 5

 6 LM224022045 Debt securities 1074.6 1209.1 1083.2 1171.2 1173.4 1209.1 1144.9 1068.6 1028.8 6

 7 FL223069143 Open market paper 8.6 14.6 15.3 18.1 18.7 14.6 23.3 22.2 23.3 7

 8 LM223061143 Treasury securities 346.8 430.9 344.8 395.9 406.3 430.9 380.0 378.7 366.3 8

 9 LM223061743 Agency- and GSE-backed securities 189.8 191.3 190.9 190.8 201.1 191.3 192.3 186.1 182.3 9

 10 LM223062043 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM223063045 Corporate and foreign bonds 529.3 572.2 532.2 566.3 547.3 572.2 549.4 481.6 456.8 11

 12 FL223065043 Loans (mortgages) 6.9 8.1 7.4 7.3 7.2 8.1 6.7 7.2 7.2 12

 13 LM223064145 Corporate equities 2843.5 3392.2 2959.9 3129.3 3106.2 3392.2 3276.3 2918.7 2716.9 13

 14 LM223064243 Mutual fund shares 196.9 52.3 181.1 180.5 188.9 52.3 66.1 56.6 23.4 14

 15 FL223090045 Miscellaneous assets 4826.9 4498.6 4755.1 4549.7 4618.0 4498.6 4718.1 5244.7 5584.1 15

 16 FL223073045 Claims of pension fund on sponsor (2) 4005.6 3506.6 3909.4 3675.4 3709.9 3506.6 3792.8 4289.8 4619.9 16

 17 LM223093043 Other 821.3 992.0 845.7 874.3 908.1 992.0 925.3 954.8 964.3 17

 18 FL224190043 Pension entitlements (liabilities) (3) 9143.4 9409.4 9208.6 9274.9 9342.1 9409.4 9476.7 9544.1 9611.4 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

L.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 FL224090055 Total financial assets 493.9 546.7 505.3 525.8 527.1 546.7 529.6 488.5 475.4 1

 2 FL223034055 Money market fund shares 2.4 2.1 2.3 2.2 2.1 2.1 2.1 2.1 2.1 2

 3 LM223064255 Mutual fund shares 227.0 262.1 235.7 249.4 248.8 262.1 243.6 205.5 191.9 3

 4 FL223090055 Miscellaneous assets 264.5 282.5 267.2 274.2 276.2 282.5 283.9 281.0 281.3 4

 5 FL223095505 Unallocated insurance contracts (misc. assets) (2) 258.2 275.8 260.8 267.6 269.5 275.8 277.0 274.0 274.2 5

 6 FL223093053 Other 6.3 6.8 6.4 6.6 6.7 6.8 6.9 7.0 7.1 6

 7 FL224090055 Pension entitlements (liabilities) 493.9 546.7 505.3 525.8 527.1 546.7 529.6 488.5 475.4 7

(1) Includes 403(b) and 457 type plans.

(2) Includes products sold by life insurance companies, such as variable annuities and guaranteed investment contracts.
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Z.1, December 9, 2022 101

L.121 Money Market Funds (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL634090005 Total financial assets 4765.9 5205.5 4980.0 5015.4 5019.2 5205.5 5090.7 5032.4 5084.2 1

 2 FL633091003 Foreign deposits 0.7 0.3 2.2 0.3 0.9 0.3 1.3 1.3 1.2 2

 3 FL633030000 Time and savings deposits 164.1 143.6 214.5 176.1 179.1 143.6 174.9 187.2 210.1 3

 4 FL632051000 Security repurchase agreements 1068.7 2495.7 1194.8 1714.7 2263.5 2495.7 2376.9 2595.9 2742.9 4

 5 FL634022005 Debt securities 3525.2 2568.8 3606.1 3185.2 2534.5 2568.8 2514.9 2224.6 2113.2 5

 6 FL633069175 Open market paper 232.3 226.2 275.9 236.1 249.6 226.2 233.0 221.1 245.4 6

 7 FL633061105 Treasury securities 2465.9 1814.7 2583.2 2288.1 1694.7 1814.7 1759.4 1459.0 1256.1 7

 8 FL633061700 Agency- and GSE-backed securities 688.1 409.9 616.8 535.9 474.0 409.9 403.4 423.5 492.2 8

 9 FL633062000 Municipal securities 125.4 110.9 117.0 112.5 106.3 110.9 113.4 117.3 113.2 9

 10 FL633063005 Corporate and foreign bonds 13.5 7.2 13.3 12.6 9.8 7.2 5.6 3.8 6.3 10

 11 FL633093005 Miscellaneous assets (net) 7.1 -2.9 -37.5 -60.9 41.3 -2.9 22.8 23.4 16.9 11

 12 FL634090005 Total shares outstanding (liabilities) 4765.9 5205.5 4980.0 5015.4 5019.2 5205.5 5090.7 5032.4 5084.2 12

 Memo:

 13 FL634090010 Stable NAV money market funds included above 4127.6 4586.5 4298.2 4336.9 4354.6 4586.5 4425.9 4385.3 4411.0 13

 14 FL634090020 Floating NAV money market funds included above (2) 638.3 619.0 681.8 678.5 664.7 619.0 664.8 647.2 673.3 14

 15 FL634090033 Government money market funds included above 3755.1 4304.3 3958.2 4028.8 4063.3 4304.3 4151.5 4071.2 4011.6 15

 16 FL634090043 Prime money market funds included above 896.9 807.0 913.6 884.3 858.4 807.0 844.5 849.7 965.8 16

 17 FL634090053 Tax-exempt money market funds included above 113.9 94.2 108.2 102.3 97.6 94.2 94.7 111.5 106.8 17

 18 FL634090503 Variable annuity money market funds included above 40.8 35.2 39.2 36.6 35.8 35.2 38.9 41.8 42.5 18

(1) Open-end investment companies including variable annuity money market funds.

(2) Floating NAV data begin 2016:Q4, corresponding to the implementation of Securities and Exchange Commission money market reforms on October 14, 2016. Some funds used floating NAV

 prior to this date.

L.122 Mutual Funds (1)

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

 1 LM654090000 Total financial assets 19562.6 22208.8 20271.3 21459.7 21374.9 22208.8 20698.1 17759.6 16617.5 1

 2 FL653034003 Money market funds 267.2 267.4 294.3 285.7 301.6 267.4 294.4 248.9 232.9 2

 3 FL652051003 Security repurchase agreements (net) -10.4 19.6 8.7 23.9 16.4 19.6 16.3 26.3 24.6 3

 4 LM654022005 Debt securities 5539.5 5897.7 5586.2 5762.3 5861.0 5897.7 5559.5 5085.8 4785.2 4

 5 FL653069100 Open market paper 50.0 39.5 53.8 49.7 49.0 39.5 45.2 36.8 34.5 5

 6 LM653061105 Treasury securities 1315.9 1592.3 1365.5 1487.5 1539.6 1592.3 1521.3 1423.3 1346.3 6

 7 LM653061703 Agency- and GSE-backed securities 674.3 541.0 634.0 579.3 584.6 541.0 550.5 551.6 528.0 7

 8 LM653062003 Municipal securities 891.3 990.8 913.3 956.1 974.9 990.8 911.0 823.1 774.5 8

 9 LM653063005 Corporate and foreign bonds 2608.0 2734.1 2619.6 2689.7 2713.0 2734.1 2531.6 2251.0 2101.8 9

 10 FL653069803 Loans (other loans and advances) 88.7 144.2 104.6 121.6 131.3 144.2 164.8 154.2 138.8 10

 11 LM653064100 Corporate equities 13391.1 15533.8 13977.9 14919.4 14716.4 15533.8 14328.6 11894.4 11109.3 11

 12 FL653093005 Miscellaneous assets 286.6 346.2 299.6 346.8 348.3 346.2 334.5 350.0 326.7 12

 13 LM654090000 Total shares outstanding (liabilities) 19562.6 22208.8 20271.3 21459.7 21374.9 22208.8 20698.1 17759.6 16617.5 13

 Memo:

 14 LM654090500 Variable annuity mutual funds included above 1942.1 2109.9 1978.3 2089.7 2042.4 2109.9 1940.0 1648.1 1541.3 14

 Total financial assets by investment objective:

 15 LM654091600 Domestic equity funds 9524.1 11256.9 10033.7 10714.4 10596.8 11256.9 10499.7 8704.3 8247.2 15

 16 LM654092603 World equity funds 3192.5 3458.3 3245.8 3456.7 3383.5 3458.3 3154.0 2669.2 2402.6 16

 17 LM654091403 Hybrid funds 1570.3 1807.8 1624.7 1739.9 1737.3 1807.8 1732.2 1538.7 1434.5 17

 18 LM654091303 Taxable bond funds 4337.1 4647.6 4398.9 4570.8 4637.5 4647.6 4361.4 3995.1 3776.7 18

 19 LM654091203 Municipal bond funds 876.6 977.1 902.6 941.6 962.5 977.1 891.3 799.6 756.5 19

(1) Open-end investment companies including variable annuity mutual funds.
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L.123 Closed-End Funds

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM554090005 Total financial assets 281.6 310.0 293.3 304.5 307.7 310.0 289.2 259.2 244.3 1

 2 LM554022005 Debt securities 175.7 186.6 178.3 183.1 185.7 186.6 173.4 159.0 151.0 2

 3 LM553061103 Treasury securities 3.0 3.1 3.0 3.1 3.1 3.1 2.9 3.5 3.3 3

 4 LM553062003 Municipal securities 94.9 98.3 95.0 96.7 96.7 98.3 90.0 85.8 80.5 4

 5 LM553063003 Corporate and foreign bonds 77.8 85.3 80.3 83.3 85.9 85.3 80.5 69.7 67.3 5

 6 LM553064103 Corporate equities 105.9 123.4 115.0 121.4 122.0 123.4 115.7 100.2 93.3 6

 7 LM554090005 Total shares outstanding (liabilities) 281.6 310.0 293.3 304.5 307.7 310.0 289.2 259.2 244.3 7

 Memo:

 Total financial assets by investment objective:

 8 LM554091603 Domestic equity funds 76.6 90.5 85.1 89.5 89.6 90.5 86.7 75.3 70.6 8

 9 LM554092603 World equity funds 29.3 32.8 29.8 31.9 32.4 32.8 29.0 24.9 22.7 9

 10 LM554091303 Domestic taxable bond funds 59.4 64.5 59.6 62.2 64.9 64.5 61.3 53.7 52.0 10

 11 LM554091203 Municipal bond funds 94.9 98.3 95.0 96.7 96.7 98.3 90.0 85.8 80.5 11

 12 LM554092303 World bond funds 21.4 23.8 23.6 24.2 24.1 23.8 22.1 19.5 18.5 12

L.124 Exchange-Traded Funds

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

 1 LM564090005 Total financial assets 5449.4 7190.5 5909.7 6491.3 6580.6 7190.5 7013.8 6155.9 5891.6 1

 2 FL563034003 Money market funds 33.9 38.6 31.5 33.4 40.4 38.6 34.8 28.9 27.9 2

 3 LM564022005 Debt securities 1041.5 1214.4 1057.7 1133.5 1173.0 1214.4 1179.3 1172.0 1177.0 3

 4 LM563061103 Treasury securities 270.1 331.2 274.0 292.5 305.0 331.2 335.5 361.9 381.1 4

 5 LM563062003 Municipal securities 63.0 83.3 67.8 74.5 78.5 83.3 83.0 89.9 87.1 5

 6 LM563063003 Corporate and foreign bonds 708.3 799.9 715.9 766.4 789.5 799.9 760.7 720.3 708.7 6

 7 LM563064100 Corporate equities 4229.7 5804.4 4693.0 5185.2 5235.2 5804.4 5635.0 4803.8 4557.2 7

 8 LM563093003 Miscellaneous assets (1) 144.3 133.1 127.5 139.2 132.0 133.1 164.8 151.2 129.6 8

 9 LM564090005 Total shares outstanding (liabilities) 5449.4 7190.5 5909.7 6491.3 6580.6 7190.5 7013.8 6155.9 5891.6 9

 Memo:

 Total financial assets by investment objective:

 10 LM564091600 Domestic equity funds 3182.3 4521.2 3543.6 3930.0 3992.5 4521.2 4393.7 3725.3 3585.1 10

 11 LM564092603 World equity funds 1029.0 1261.5 1130.5 1234.4 1222.8 1261.5 1222.0 1062.2 956.6 11

 12 LM564091703 Commodity funds (1) 150.3 138.7 132.8 145.0 137.5 138.7 171.7 157.5 135.0 12

 13 LM564091403 Hybrid funds 34.5 42.2 34.4 37.9 39.9 42.2 38.2 33.4 31.7 13

 14 LM564091303 Taxable bond funds 989.1 1142.2 999.5 1068.3 1107.7 1142.2 1104.0 1086.6 1095.1 14

 15 LM564091203 Municipal bond funds 64.2 84.7 68.9 75.7 80.1 84.7 84.3 91.0 88.2 15

(1) Investments primarily in commodities, currencies, and futures.
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L.125 Government-Sponsored Enterprises (GSEs) (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL404090005 Total financial assets 7729.5 8303.5 7879.0 8032.5 8154.6 8303.5 8517.6 8765.5 8982.8 1

 2 FL403020005 Checkable deposits and currency 92.5 62.6 153.9 68.6 86.4 62.6 52.5 54.3 44.7 2

 3 FL403030005 Time and savings deposits 8.8 6.6 7.2 6.3 6.3 6.6 7.5 10.3 13.5 3

 4 FL402050005 Federal funds and security repos 212.5 209.7 146.8 256.8 215.2 209.7 218.2 277.3 304.5 4

 5 LM404022005 Debt securities 520.1 430.2 471.9 450.5 440.1 430.2 432.8 404.3 398.8 5

 6 FL403069105 Open market paper 7.3 4.7 7.0 5.4 4.7 4.7 6.4 7.9 9.8 6

 7 LM403061105 Treasury securities 259.2 202.4 224.9 210.9 205.1 202.4 210.4 180.6 168.3 7

 8 LM403061705 Agency- and GSE-backed securities 237.3 208.4 224.4 218.9 215.3 208.4 201.5 201.6 206.2 8

 9 LM403062005 Municipal securities 2.8 2.4 2.7 2.6 2.5 2.4 2.4 2.1 2.1 9

 10 LM403063005 Corporate and foreign bonds 13.5 12.3 13.0 12.7 12.5 12.3 12.1 12.2 12.4 10

 11 FL404023005 Loans 6706.0 7435.2 6899.9 7075.7 7233.1 7435.2 7661.2 7898.3 8107.6 11

 12 FL403069305 Other loans and advances 563.5 511.2 547.4 515.4 496.4 511.2 551.0 692.3 833.4 12

 13 FL403069385 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL403069345 Farm Credit System 153.2 164.4 156.5 152.8 152.1 164.4 177.9 172.0 172.6 14

 15 FL403069330 FHLB 410.3 346.7 390.9 362.6 344.3 346.7 373.1 520.3 660.8 15

 16 FL403065005 Mortgages 6142.5 6924.1 6352.5 6560.3 6736.7 6924.1 7110.2 7206.0 7274.2 16

 17 FL403065105 One-to-four-family residential 5575.3 6312.7 5773.5 5978.9 6141.1 6312.7 6489.3 6577.1 6635.8 17

 18 FL403065195 Consolidated trusts (2) 5303.8 6136.1 5499.1 5772.0 5950.9 6136.1 6316.6 6406.8 6477.5 18

 19 FL403065185 Other 271.5 176.6 274.4 206.8 190.2 176.6 172.7 170.3 158.3 19

 20 FL403065405 Multifamily residential 419.4 445.0 426.8 424.4 433.8 445.0 451.5 456.2 462.9 20

 21 FL403065495 Consolidated trusts (2) 384.6 421.0 401.0 405.6 413.5 421.0 430.6 439.0 445.5 21

 22 FL403065485 Other 34.9 23.9 25.7 18.8 20.3 23.9 20.8 17.2 17.4 22

 23 FL403065605 Farm 147.8 166.4 152.2 157.0 161.7 166.4 169.4 172.7 175.5 23

 24 FL403066005 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 FL403093005 Miscellaneous assets 189.7 159.2 199.3 174.6 173.5 159.2 145.5 121.0 113.7 25

 26 FL404190005 Total liabilities 7758.3 8291.4 7889.3 8035.2 8152.1 8291.4 8489.8 8716.1 8923.3 26

 27 FL402150005 Federal funds and security repos 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FL403161705 Debt securities (GSE issues) (3) 7638.1 8177.6 7775.1 7928.1 8041.7 8177.6 8372.6 8591.9 8785.7 28

 29 FL403161795 Consolidated trusts (2) 5688.3 6557.1 5900.1 6177.6 6364.5 6557.1 6747.2 6845.8 6923.0 29

 30 FL403161785 Other 1949.8 1620.4 1875.0 1750.4 1677.3 1620.4 1625.4 1746.1 1862.7 30

 31 FL403169283 Loans (U.S. government loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 FL403190005 Miscellaneous liabilities 120.2 113.8 114.1 107.1 110.4 113.8 117.2 124.2 137.6 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.126) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets (L.125).

(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) Such issues are classified as agency- and GSE-backed securities.

L.126 Agency- and GSE-Backed Mortgage Pools (1)

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

 1 FL413065005 Total financial assets 2428.3 2501.8 2431.4 2459.6 2474.7 2501.8 2534.7 2583.8 2637.4 1

 2 FL413065105 One-to-four-family residential mortgages 2009.0 2044.4 1996.4 2012.1 2022.4 2044.4 2074.3 2120.2 2172.9 2

 3 FL413065405 Multifamily residential mortgages 418.4 456.2 434.1 446.7 451.4 456.2 459.2 462.4 463.2 3

 4 FL413065505 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL413065605 Farm mortgages 0.9 1.2 0.8 0.9 0.9 1.2 1.2 1.2 1.2 5

 6 FL413065005 Total pool securities (liabilities) (2) 2428.3 2501.8 2431.4 2459.6 2474.7 2501.8 2534.7 2583.8 2637.4 6

(1) Ginnie Mae, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (L.126) are consolidated

 on Fannie Mae’s and Freddie Mac’s balance sheets (table L.125). 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 and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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L.127 Issuers of Asset-Backed Securities (ABS)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL674090005 Total financial assets 1223.7 1379.9 1228.7 1255.5 1307.2 1379.9 1417.3 1445.1 1461.2 1

 2 FL674022005 Debt securities 30.3 31.9 28.6 27.4 28.7 31.9 34.5 35.7 36.3 2

 3 FL673061103 Treasury securities 30.3 31.9 28.6 27.4 28.7 31.9 34.5 35.7 36.3 3

 4 FL673061703 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL674023005 Loans 1043.3 1154.5 1039.9 1050.3 1091.1 1154.5 1176.8 1200.2 1215.1 5

 6 FL673069005 Other loans and advances (2) 210.7 272.3 212.8 221.9 248.1 272.3 281.0 294.7 307.9 6

 7 FL673065005 Mortgages (3) 830.7 880.8 825.3 826.7 841.4 880.8 894.5 904.0 905.3 7

 8 FL673065105 One-to-four-family residential 407.6 404.3 392.9 388.4 395.3 404.3 411.0 415.7 417.7 8

 9 FL673065405 Multifamily residential 51.6 63.9 53.0 53.5 55.7 63.9 71.6 67.8 67.7 9

 10 FL673065505 Commercial 371.6 412.7 379.4 384.8 390.4 412.7 411.9 420.5 419.9 10

 11 FL673066000 Consumer credit 1.9 1.4 1.9 1.7 1.5 1.4 1.3 1.4 1.9 11

 12 FL673070003 Trade credit 35.1 38.2 34.2 36.3 35.2 38.2 36.2 37.2 38.6 12

 13 FL673090543 Miscellaneous assets (funding agreements) (4) 114.9 155.4 126.0 141.5 152.2 155.4 169.9 172.0 171.3 13

 14 FL674122005 Total liabilities 1223.7 1379.9 1228.7 1255.5 1307.2 1379.9 1417.3 1445.1 1461.2 14

 15 FL674122005 Debt securities 1223.7 1379.9 1228.7 1255.5 1307.2 1379.9 1417.3 1445.1 1461.2 15

 16 FL673169105 Commercial paper 164.8 148.1 139.7 118.4 114.4 148.1 190.9 214.1 214.5 16

 17 FL673163005 Corporate bonds (net) (5) 1058.9 1231.9 1089.0 1137.1 1192.8 1231.9 1226.4 1231.0 1246.7 17

 Memo:

 Securitized assets not included above

 18 FL675013263 Consumer leases (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 FL643065045 REIT assets (7) 141.7 158.1 138.4 149.4 151.5 158.1 164.1 167.1 163.5 19

 Securitized liabilities not included above

 20 FL763169103 Commercial paper (8) 180.4 134.9 172.4 147.9 132.2 134.9 151.7 173.5 175.0 20

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Includes loans backing domestically-issued collateralized loan obligation (CLO) securities; loans backing U.S. CLO securities issued outside the U.S. are shown in line 15 of table L.133.

(3) Mortgages backing privately issued pool securities and privately issued CMOs.

(4) Funding agreements with life insurance companies.

(5) Liabilities net of assets.

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

 The leased automobile is a nonfinancial asset.

(7) Included on table L.129.

(8) Included on table L.111 line 44.
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L.128 Finance Companies (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL614090005 Total financial assets 1740.2 1766.9 1762.0 1806.3 1784.4 1766.9 1706.0 1643.7 1618.4 1

 2 FL613020003 Checkable deposits and currency 16.4 14.4 15.7 16.3 16.5 14.4 10.2 9.7 8.0 2

 3 FL613030003 Time and savings deposits 49.3 43.1 47.2 48.8 49.6 43.1 30.6 29.1 24.1 3

 4 LM613063003 Debt securities (corporate and foreign bonds) 73.6 98.7 69.7 77.6 83.8 98.7 90.6 83.9 83.3 4

 5 FL614023005 Loans 1031.7 1026.1 1042.8 1061.1 1051.2 1026.1 1020.7 1030.6 1038.1 5

 6 FL613069505 Other loans and advances 370.3 344.9 373.6 381.9 367.8 344.9 345.0 357.6 364.7 6

 7 FL613065000 Mortgages 110.0 104.3 108.6 107.0 105.4 104.3 102.9 102.2 101.9 7

 8 FL613066005 Consumer credit 551.4 577.0 560.5 572.3 578.0 577.0 572.8 570.8 571.5 8

 9 LM613092003 U.S. direct investment abroad 365.5 444.2 403.4 425.6 423.5 444.2 420.2 357.0 331.8 9

 10 FL613090005 Miscellaneous assets 203.8 140.4 183.1 176.9 159.8 140.4 133.6 133.4 133.1 10

 11 FL614190005 Total liabilities 1307.3 1254.9 1290.9 1318.3 1291.8 1254.9 1213.7 1221.1 1204.1 11

 12 FL614122005 Debt securities 815.2 769.1 795.0 799.0 761.7 769.1 768.2 785.0 812.9 12

 13 FL613169100 Open market paper 41.8 41.3 41.5 40.9 38.9 41.3 37.1 38.4 41.4 13

 14 FL613163005 Corporate bonds 773.4 727.9 753.5 758.1 722.7 727.9 731.1 746.6 771.5 14

 15 FL614123005 Loans 178.4 191.1 175.4 216.2 209.1 191.1 160.7 153.3 151.7 15

 16 FL613168005 Depository institution loans n.e.c. 177.9 191.0 175.3 216.1 209.0 191.0 160.6 153.2 151.6 16

 17 FL613169005 Other loans and advances 0.5 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 17

 18 FL613178005 Taxes payable 9.2 8.8 9.6 9.0 9.9 8.8 8.6 8.1 6.4 18

 19 LM613192305 Foreign direct investment: intercompany debt 7.7 7.8 7.8 7.5 7.5 7.8 7.5 7.3 7.0 19

 20 FL613190005 Miscellaneous liabilities 296.8 278.0 303.1 286.6 303.7 278.0 268.8 267.5 226.0 20

 21 FL613194703 Other investment by parent 117.7 104.6 117.0 106.5 103.6 104.6 102.5 104.2 100.4 21

 22 FL613193005 Other 179.1 173.4 186.1 180.1 200.1 173.4 166.2 163.2 125.6 22

 Memo:

 23 LM613192103 Foreign direct investment: equity 156.5 202.4 165.4 182.8 183.2 202.4 192.1 161.1 154.4 23

 24 FL613066303 Consumer leases not included above (2) 182.1 175.4 182.8 184.0 180.7 175.4 168.8 162.2 156.1 24

(1) Includes retail captive finance companies and mortgage companies.

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

 The leased automobile is a nonfinancial asset.
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L.129 Real Estate Investment Trusts (REITs) (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL644090005 Total financial assets 764.6 835.0 773.5 786.5 788.0 835.0 850.5 845.6 853.1 1

 2 FL643020005 Checkable deposits and currency 62.5 59.3 61.6 63.4 64.2 59.3 60.9 52.6 53.1 2

 3 LM644022005 Debt securities 236.8 200.2 223.2 216.1 197.3 200.2 192.6 171.5 183.4 3

 4 LM643061773 Agency- and GSE-backed securities 208.5 168.4 197.5 187.6 166.7 168.4 157.5 142.9 148.1 4

 5 LM643063005 Corporate and foreign bonds 28.4 31.7 25.7 28.5 30.6 31.7 35.1 28.6 35.3 5

 6 FL643065005 Loans (mortgages) 265.7 346.7 272.7 288.3 309.3 346.7 356.9 380.5 375.7 6

 7 FL643065105 One-to-four-family residential 52.8 78.8 55.7 61.7 74.6 78.8 76.9 76.8 76.4 7

 8 FL643065405 Multifamily residential 10.7 16.0 11.5 13.0 14.2 16.0 16.2 16.3 15.6 8

 9 FL643065505 Commercial 202.2 251.8 205.5 213.6 220.5 251.8 263.8 287.5 283.7 9

 10 FL643090005 Miscellaneous assets 199.6 228.8 216.0 218.8 217.1 228.8 240.1 240.9 240.8 10

 11 FL644190005 Total liabilities 1223.7 1303.3 1226.4 1241.3 1219.6 1303.3 1310.5 1321.5 1335.5 11

 12 FL642151073 Security repurchase agreements 224.4 219.8 221.1 213.5 208.4 219.8 209.9 200.4 199.9 12

 13 FL644122005 Debt securities 581.9 634.5 588.7 614.4 616.0 634.5 643.2 653.0 651.3 13

 14 FL643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FL643163005 Corporate bonds 581.9 634.5 588.7 614.4 616.0 634.5 643.2 653.0 651.3 15

 16 FL644123005 Loans 256.4 285.8 250.9 247.0 233.0 285.8 293.5 300.4 302.2 16

 17 FL643168005 Depository institution loans n.e.c. 30.0 38.1 30.4 29.0 24.2 38.1 41.3 44.1 38.9 17

 18 FL643169373 Other loans and advances 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 18

 19 FL123165005 Mortgages 226.1 247.4 220.2 217.7 208.6 247.4 252.0 256.1 263.1 19

 20 FL643193005 Miscellaneous liabilities 161.1 163.3 165.7 166.6 162.2 163.3 163.9 167.7 182.1 20

 Memo:

 21 FL643065045 Securitized assets included above 141.7 158.1 138.4 149.4 151.5 158.1 164.1 167.1 163.5 21

 22 FL643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL643065163 One-to-four-family residential mortgages 28.9 34.7 26.9 29.0 30.6 34.7 38.1 39.7 40.2 23

 24 FL643065443 Multifamily residential mortgages 5.2 7.8 5.2 6.6 7.1 7.8 8.2 8.5 8.6 24

 25 FL643065543 Commercial mortgages 107.6 115.7 106.3 113.8 113.8 115.7 117.7 118.9 114.8 25

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables L.129.e and L.129.m.
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L.129.e Equity Real Estate Investment Trusts

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL124090005 Total financial assets 249.4 302.8 256.2 271.3 277.3 302.8 319.2 325.2 326.3 1

 2 FL123020003 Checkable deposits and currency 44.6 42.7 44.6 46.0 48.1 42.7 44.6 37.4 36.4 2

 3 LM123063003 Debt securities (corporate and foreign bonds) 12.9 19.8 13.9 16.4 19.3 19.8 23.3 18.9 17.6 3

 4 FL123065005 Loans (mortgages) 37.4 59.6 40.3 39.7 39.5 59.6 66.6 82.8 82.4 4

 5 FL123065103 One-to-four-family residential 0.2 0.5 0.2 0.2 0.2 0.5 0.5 0.5 0.5 5

 6 FL123065403 Multifamily residential 1.7 2.3 2.3 2.2 2.2 2.3 2.0 1.6 1.0 6

 7 FL123065503 Commercial 35.4 56.9 37.8 37.3 37.1 56.9 64.1 80.7 80.9 7

 8 FL123093005 Miscellaneous assets 154.5 180.6 157.3 169.0 170.4 180.6 184.7 186.1 189.9 8

 9 FL124190005 Total liabilities 790.0 859.3 791.5 809.3 794.0 859.3 865.3 883.5 888.2 9

 10 FL123163003 Debt securities (corporate bonds) 401.9 430.7 409.5 422.4 420.8 430.7 433.8 439.7 441.0 10

 11 FL124123005 Loans 253.5 282.4 248.3 244.6 230.5 282.4 290.5 296.8 298.1 11

 12 FL123168003 Depository institution loans n.e.c. 27.4 35.0 28.1 26.9 21.9 35.0 38.5 40.7 35.0 12

 13 FL123165005 Mortgages 226.1 247.4 220.2 217.7 208.6 247.4 252.0 256.1 263.1 13

 14 FL123165403 Multifamily residential 23.7 22.1 23.9 23.5 23.6 22.1 21.7 21.7 20.1 14

 15 FL123165503 Commercial 202.3 225.3 196.4 194.1 185.0 225.3 230.2 234.4 243.0 15

 16 FL123193005 Miscellaneous liabilities 134.7 146.2 133.6 142.3 142.6 146.2 141.0 147.0 149.2 16

L.129.m Mortgage Real Estate Investment Trusts

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

 1 FL644090075 Total financial assets 515.2 532.3 517.3 515.3 510.7 532.3 531.3 520.4 526.8 1

 2 FL643020073 Checkable deposits and currency 17.9 16.5 16.9 17.3 16.2 16.5 16.3 15.3 16.7 2

 3 LM644022075 Debt securities 223.9 180.4 209.3 199.6 178.0 180.4 169.3 152.6 165.8 3

 4 LM643061773 Agency- and GSE-backed securities 208.5 168.4 197.5 187.6 166.7 168.4 157.5 142.9 148.1 4

 5 LM643063073 Corporate and foreign bonds 15.5 11.9 11.8 12.0 11.3 11.9 11.8 9.7 17.7 5

 6 FL643065075 Loans (mortgages) 228.3 287.1 232.4 248.5 269.9 287.1 290.3 297.8 293.3 6

 7 FL643065173 One-to-four-family residential 52.6 78.4 55.4 61.4 74.4 78.4 76.4 76.3 75.9 7

 8 FL643065473 Multifamily residential 9.0 13.8 9.2 10.7 12.0 13.8 14.2 14.7 14.6 8

 9 FL643065573 Commercial 166.7 195.0 167.7 176.4 183.5 195.0 199.7 206.8 202.8 9

 10 FL643090075 Miscellaneous assets 45.1 48.2 58.7 49.8 46.7 48.2 55.4 54.8 50.9 10

 11 FL644190075 Total liabilities 433.7 444.1 434.9 432.0 425.6 444.1 445.2 437.9 447.3 11

 12 FL642151073 Security repurchase agreements 224.4 219.8 221.1 213.5 208.4 219.8 209.9 200.4 199.9 12

 13 FL644122075 Debt securities 180.0 203.8 179.2 191.9 195.2 203.8 209.4 213.3 210.3 13

 14 FL643169173 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FL643163075 Corporate bonds 180.0 203.8 179.2 191.9 195.2 203.8 209.4 213.3 210.3 15

 16 FL644123075 Loans 2.9 3.4 2.6 2.4 2.5 3.4 3.0 3.7 4.2 16

 17 FL643168073 Depository institution loans n.e.c. 2.6 3.1 2.3 2.1 2.2 3.1 2.7 3.4 3.9 17

 18 FL643169373 Other loans and advances 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 18

 19 FL643193075 Miscellaneous liabilities 26.4 17.1 32.1 24.3 19.5 17.1 22.9 20.6 32.9 19

 Memo:

 20 FL643065045 Securitized assets included above 141.7 158.1 138.4 149.4 151.5 158.1 164.1 167.1 163.5 20

 21 FL643061743 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL643065163 One-to-four-family residential mortgages 28.9 34.7 26.9 29.0 30.6 34.7 38.1 39.7 40.2 22

 23 FL643065443 Multifamily residential mortgages 5.2 7.8 5.2 6.6 7.1 7.8 8.2 8.5 8.6 23

 24 FL643065543 Commercial mortgages 107.6 115.7 106.3 113.8 113.8 115.7 117.7 118.9 114.8 24
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L.130 Security Brokers and Dealers

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL664090005 Total financial assets 4198.8 4380.3 4245.1 4289.2 4392.2 4380.3 4572.7 4432.5 4424.2 1

 2 FL663020003 Checkable deposits and currency 138.4 140.7 136.9 132.6 137.1 140.7 146.6 150.1 153.2 2

 3 FL662051003 Security repurchase agreements 1322.1 1255.4 1238.0 1133.4 1211.2 1255.4 1324.4 1345.5 1330.5 3

 4 LM664022005 Debt securities 389.1 196.6 187.2 216.3 204.4 196.6 138.9 175.5 246.2 4

 5 FL663069103 Open market paper 8.2 16.3 9.2 11.7 14.0 16.3 22.2 15.6 23.4 5

 6 LM663061105 Treasury securities 215.2 99.0 95.5 113.0 93.5 99.0 83.3 89.5 127.0 6

 7 LM663061705 Agency- and GSE-backed securities 77.8 53.8 4.8 12.4 17.6 53.8 21.0 58.1 68.2 7

 8 LM663062003 Municipal securities 6.8 12.7 8.8 10.7 12.1 12.7 11.0 10.1 14.8 8

 9 LM663063005 Corporate and foreign bonds 81.2 14.8 68.8 68.4 67.2 14.8 1.2 2.0 12.8 9

 10 FL663069005 Loans (other loans and advances) 664.3 840.0 779.5 821.4 818.7 840.0 855.5 821.2 806.9 10

 11 LM663064103 Corporate equities 214.3 233.9 265.9 259.1 232.0 233.9 236.9 177.6 192.2 11

 12 LM663092003 U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL663090005 Miscellaneous assets 1470.6 1713.7 1637.7 1726.4 1788.8 1713.7 1870.4 1762.7 1695.2 13

 14 FL663070605 Receivables due from other brokers and dealers 1152.1 1342.7 1297.3 1380.5 1468.6 1342.7 1497.0 1423.8 1336.7 14

 15 FL663094705 Balances due from holding company parent 251.0 290.5 258.3 263.6 287.7 290.5 323.8 353.3 389.2 15

 16 FL663093005 Other 67.5 80.6 82.1 82.3 32.5 80.6 49.5 -14.4 -30.7 16

 17 FL664190005 Total liabilities 3930.2 4083.5 3964.7 4001.2 4098.4 4083.5 4294.4 4156.4 4143.8 17

 18 FL662151003 Security repurchase agreements 1774.2 1570.4 1573.6 1550.5 1554.7 1570.4 1523.6 1533.6 1613.4 18

 19 FL663163003 Debt securities (corporate bonds) 183.9 217.7 196.3 204.5 214.6 217.7 260.8 249.2 223.6 19

 20 FL664123005 Loans 1037.0 1182.1 1064.1 1097.2 1160.6 1182.1 1311.7 1264.6 1202.7 20

 21 FL663168005 Depository institution loans n.e.c. 132.3 176.0 139.4 156.2 169.9 176.0 174.8 184.0 179.3 21

 22 FL153067005 Other loans and advances 904.8 1006.1 924.7 941.0 990.7 1006.1 1136.9 1080.5 1023.4 22

 23 FL663170003 Trade payables 18.5 22.4 19.7 15.9 17.6 22.4 21.9 19.3 19.6 23

 24 FL663178003 Taxes payable 6.3 6.8 7.1 7.7 8.8 6.8 6.4 6.9 6.7 24

 25 LM663192305 Foreign direct investment: intercompany debt 14.5 15.7 14.7 14.2 14.7 15.7 14.4 13.3 12.7 25

 26 FL663190005 Miscellaneous liabilities 895.7 1068.4 1089.1 1111.1 1127.4 1068.4 1155.5 1069.4 1065.1 26

 27 FL663170605 Payables due to other brokers and dealers 522.7 656.9 683.7 694.7 739.7 656.9 728.8 660.9 643.3 27

 28 FL663194605 Equity investment by holding company parents 253.0 204.8 256.1 245.6 242.0 204.8 207.1 285.7 325.3 28

 29 FL663194015 Other investment by parent companies 661.7 715.9 648.6 687.5 698.8 715.9 759.4 713.6 684.7 29

 30 FL663193005 Other -541.7 -509.2 -499.3 -516.7 -553.1 -509.2 -539.8 -590.8 -588.1 30

 Memo:

 31 LM662090003 Equity in noncorporate business 90.3 106.1 93.8 98.0 99.6 106.1 94.9 93.9 97.5 31

 32 LM663192103 Foreign direct investment: equity 295.4 405.7 311.5 348.5 360.2 405.7 372.2 291.3 276.2 32
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L.131 Holding Companies (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL734090005 Total financial assets 4606.2 4796.9 4597.9 4720.8 4752.8 4796.9 4755.3 4691.5 4658.8 1

 2 FL733091003 Foreign deposits 20.9 19.2 26.5 20.7 18.4 19.2 22.0 7.9 12.1 2

 3 FL733030005 Time and savings deposits 494.0 397.5 413.5 418.2 394.3 397.5 364.2 404.5 423.6 3

 4 FL732051003 Security repurchase agreements 41.4 26.1 29.4 15.8 30.1 26.1 17.8 23.8 29.2 4

 5 LM734022605 Debt securities 122.4 146.4 145.5 144.1 139.1 146.4 148.9 166.4 176.4 5

 6 LM733061103 Treasury securities 61.6 92.6 84.2 86.5 83.8 92.6 99.8 120.6 130.6 6

 7 LM733061703 Agency- and GSE-backed securities 33.8 24.7 30.7 29.1 27.2 24.7 22.4 21.2 19.6 7

 8 LM733063003 Corporate and foreign bonds 27.0 29.2 30.5 28.5 28.1 29.2 26.7 24.7 26.2 8

 9 FL733069005 Loans (other loans and advances) 106.6 130.2 121.2 129.6 125.1 130.2 150.5 145.5 150.5 9

 10 FL733040005 Life insurance reserves 69.0 73.0 70.0 71.0 72.0 73.0 74.0 75.0 76.0 10

 11 LM733092003 U.S. direct investment abroad 403.1 495.0 419.5 454.1 457.5 495.0 476.9 399.4 368.0 11

 12 FL733090005 Miscellaneous assets 3348.8 3509.5 3372.3 3467.3 3516.3 3509.5 3500.9 3469.0 3422.8 12

 13 FL733094635 Equity investment in affiliates 2375.6 2451.9 2399.5 2443.6 2466.2 2451.9 2389.5 2404.6 2389.6 13

 14 FL733094735 Other investment in affiliates 932.2 1018.1 930.1 979.0 1007.5 1018.1 1067.8 1022.7 989.2 14

 15 FL733093005 Other 41.0 39.5 42.7 44.6 42.7 39.5 43.6 41.7 44.0 15

 16 FL734190005 Total liabilities 2030.5 2130.1 1993.2 2072.2 2091.2 2130.1 2162.6 2174.2 2187.9 16

 17 FL732151003 Security repurchase agreements 0.0 0.0 0.1 0.1 0.1 0.0 0.1 0.0 0.0 17

 18 FL734122005 Debt securities 1479.9 1544.9 1442.2 1524.8 1517.7 1544.9 1531.1 1516.6 1470.7 18

 19 FL733169103 Commercial paper 5.2 8.1 5.5 6.5 6.5 8.1 7.5 8.8 9.2 19

 20 FL733163005 Corporate bonds 1474.8 1536.8 1436.7 1518.3 1511.2 1536.8 1523.6 1507.8 1461.6 20

 21 FL733178013 Taxes payable 3.1 2.8 3.1 2.8 2.8 2.8 2.8 2.5 2.5 21

 22 LM733192305 Foreign direct investment: intercompany debt (2) 105.7 105.8 106.7 107.7 97.8 105.8 101.7 91.7 83.2 22

 23 FL733190005 Miscellaneous liabilities 441.7 476.5 441.0 436.8 472.7 476.5 526.9 563.3 631.4 23

 24 FL733194735 Balances due to affiliates 440.2 473.7 442.6 440.5 465.8 473.7 524.7 550.0 606.2 24

 25 FL733193005 Other 1.5 2.8 -1.7 -3.7 7.0 2.8 2.2 13.3 25.2 25

 Memo:

 26 LM733192103 Foreign direct investment: equity (2) 80.9 87.0 89.6 90.3 92.9 87.0 84.9 84.0 83.2 26

(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.

(2) Investment in U.S. Intermediate Holding Companies.
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110 Z.1, December 9, 2022

L.132 Other Financial Business (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL504090005 Total financial assets 1129.2 1410.2 1356.4 1352.0 1287.6 1410.2 1495.5 1437.7 1421.7 1

 2 FL503020005 Checkable deposits and currency 167.6 239.6 202.2 214.7 225.8 239.6 259.1 239.9 223.5 2

 3 FL503034005 Money market fund shares 426.4 605.6 472.8 501.4 521.7 605.6 579.1 560.9 553.8 3

 4 FL502051005 Security repurchase agreements 5.4 3.6 3.2 4.1 3.9 3.6 3.9 4.6 4.4 4

 5 FL504022005 Debt securities 339.1 366.0 424.4 408.0 323.4 366.0 419.8 455.0 449.9 5

 6 FL503069105 Open market paper 119.0 227.4 251.5 243.7 176.5 227.4 276.7 320.1 304.7 6

 7 FL503061105 Treasury securities 143.0 63.6 97.8 79.5 67.3 63.6 61.0 53.4 56.9 7

 8 FL503063005 Corporate and foreign bonds 70.8 70.9 69.0 80.1 75.2 70.9 79.2 78.6 85.4 8

 9 FL503062003 Municipal securities 6.3 4.1 6.1 4.8 4.4 4.1 2.9 2.9 2.9 9

 10 FL503069005 Loans (other loans and advances) 88.2 84.5 108.9 100.4 84.8 84.5 98.8 69.2 69.9 10

 11 FL503064105 Corporate equities 8.8 0.0 8.5 1.1 0.0 0.0 0.0 0.0 0.0 11

 12 FL503090005 Miscellaneous assets 93.7 110.9 136.4 122.4 128.1 110.9 134.8 108.0 120.3 12

 13 FL753194503 Investment in foreign banking offices 92.0 108.5 134.2 116.8 125.8 108.5 132.2 105.6 116.6 13

 14 FL663194505 Investment in brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 FL503093023 Other 1.8 2.4 2.1 5.6 2.3 2.4 2.6 2.4 3.7 15

 16 FL504190005 Total liabilities 1129.2 1410.2 1356.4 1352.0 1287.6 1410.2 1495.5 1437.7 1421.7 16

 17 FL504122005 Debt securities 118.2 136.7 174.9 149.3 157.5 136.7 173.0 150.6 141.0 17

 18 FL503169105 Open market paper 118.2 136.7 174.9 149.3 157.5 136.7 173.0 150.6 141.0 18

 19 FL503163003 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL504123005 Loans 240.8 298.7 285.9 293.7 286.2 298.7 310.5 286.1 273.6 20

 21 FL713068505 Depository institution loans n.e.c. 40.7 21.0 38.9 36.9 21.8 21.0 18.8 17.7 16.6 21

 22 FL503169005 Other loans and advances 200.1 277.7 247.0 256.9 264.4 277.7 291.7 268.5 257.0 22

 23 FL503192305 Foreign direct investment: intercompany debt 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL503190005 Miscellaneous liabilities 770.3 974.9 895.6 909.0 844.0 974.9 1012.1 1001.0 1007.1 24

 25 FL663070675 Securities lending (net) 629.4 685.8 613.6 685.9 728.9 685.8 768.3 762.9 693.4 25

 26 LM503194305 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 FL503194205 Equity in Federal Reserve facilities (2) 112.5 21.3 50.3 40.3 26.9 21.3 21.3 17.9 17.9 27

 28 FL503193005 Other 28.4 267.9 231.7 182.8 88.3 267.9 222.5 220.2 295.8 28

(1) Includes funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, funds associated with the Public-Private Investment Program (PPIP), Federal Reserve

 funding, credit, and liquidity facility special purpose vehicles (SPV) created in response to the 2008 Financial Crisis and COVID-19 pandemic, and U.S. central clearing parties.

(2) U.S. Treasury Exchange Stabilization Fund Economic Recovery Programs investment in Federal Reserve SPVs.
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L.133 Rest of the World

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL264090005 Total financial assets 40516.5 47446.0 41832.6 44299.9 44819.8 47446.0 45596.6 40992.3 39964.3 1

 2 LM313111303 SDR allocations 50.9 160.8 50.1 50.4 161.8 160.8 158.8 152.5 147.0 2

 3 FL264016005 Net interbank assets 152.9 219.8 38.7 32.6 180.7 219.8 294.6 298.7 387.5 3

 4 FL263020005 U.S. checkable deposits and currency 1143.1 1209.1 1168.1 1182.9 1188.0 1209.1 1237.4 1221.5 1224.9 4

 5 FL263030005 U.S. time deposits 665.1 692.7 688.8 692.4 683.9 692.7 742.1 713.7 745.8 5

 6 FL263034003 Money market fund shares 137.0 157.7 144.5 152.0 152.1 157.7 154.2 152.5 154.0 6

 7 FL262051005 Security repurchase agreements 1084.0 1365.4 1161.8 1254.1 1326.4 1365.4 1325.7 1357.7 1383.0 7

 8 LM264022005 Debt securities 13254.2 13606.6 13107.3 13457.8 13476.0 13606.6 13185.6 12704.8 12326.7 8

 9 LM263069103 Open market paper 86.3 138.3 101.4 92.8 146.7 138.3 173.9 165.9 175.6 9

 10 LM263061105 Treasury securities 7291.6 7747.7 7295.9 7518.9 7570.9 7747.7 7613.6 7430.8 7296.9 10

 11 LM263061705 Agency- and GSE-backed securities 1276.4 1250.3 1253.5 1268.0 1242.2 1250.3 1170.2 1216.5 1175.4 11

 12 FL263062003 Municipal securities 108.6 110.4 110.5 110.2 110.3 110.4 113.2 113.8 106.7 12

 13 LM263063005 U.S. corporate bonds (1) 4491.3 4359.9 4346.0 4468.0 4405.9 4359.9 4114.7 3777.9 3572.1 13

 14 FL263069500 Loans to U.S. corporate business 904.0 1026.1 934.7 952.6 982.5 1026.1 1049.5 1074.6 1070.2 14

 15 FL263069563 Of which: loans held by CLOs (2) 566.0 644.5 577.1 595.8 617.5 644.5 662.1 670.2 680.6 15

 16 LM263064105 U.S. corporate equities 10673.4 13484.4 11409.0 12336.0 12378.2 13484.4 12616.7 10602.7 10281.4 16

 17 LM263064203 Mutual fund shares 1024.3 1162.0 1068.4 1223.8 1245.4 1162.0 1165.7 1113.3 1062.5 17

 18 LM263070005 Trade receivables 430.0 511.1 450.1 468.5 486.1 511.1 518.3 529.1 536.3 18

 19 FL543141905 Life insurance reserves 1.6 0.2 1.2 0.9 0.5 0.2 0.2 0.2 0.2 19

 20 FL543151905 Pension entitlements 2.4 0.7 2.0 1.6 1.1 0.7 0.7 0.8 0.8 20

 21 LM263092001 Foreign direct investment in U.S. (3) 10756.6 13608.4 11375.4 12265.8 12322.1 13608.4 12887.1 10812.8 10367.7 21

 22 FL263090005 Miscellaneous assets 237.2 241.0 232.4 228.5 235.0 241.0 260.1 257.6 276.4 22

 23 FL263076005 Insurance receivables 59.1 65.1 60.6 62.1 63.6 65.1 65.7 67.4 69.7 23

 24 FL263094733 Balances due from U.S. holding companies 178.1 175.9 171.8 166.4 171.4 175.9 194.4 190.2 206.7 24

 25 FL264190005 Total liabilities 7535.9 8215.3 7609.2 7778.5 8077.5 8215.3 7979.8 7783.6 7652.3 25

 26 LM263111005 U.S. official reserve assets (4) 133.7 240.1 127.9 129.1 239.4 240.1 237.1 227.5 219.1 26

 27 LM263191005 U.S. private deposits 836.8 857.2 871.3 864.4 832.7 857.2 875.1 865.2 881.6 27

 28 FL262151003 Security repurchase agreements 1279.2 1173.0 1149.6 1107.1 1117.6 1173.0 1141.7 1137.9 1104.2 28

 29 LM264122005 Debt securities 3753.9 4232.4 3885.3 4044.5 4210.2 4232.4 4029.7 3796.3 3666.6 29

 30 FL263169105 Commercial paper 217.7 421.7 365.7 436.4 451.8 421.7 343.6 323.9 314.4 30

 31 LM263163005 Bonds 3536.2 3810.7 3519.7 3608.1 3758.4 3810.7 3686.0 3472.5 3352.2 31

 32 LM263163063 Of which: CLO securities (2) 400.0 483.4 418.9 434.3 455.3 483.4 492.7 507.4 521.5 32

 33 FL264123005 Loans 754.8 905.2 772.7 800.5 839.4 905.2 912.7 958.0 1004.3 33

 34 FL263168005 Depository institution loans n.e.c. 698.9 852.6 716.4 743.9 791.8 852.6 856.1 897.8 935.4 34

 35 FL263169005 Other loans and advances 55.9 52.6 56.3 56.7 47.6 52.6 56.6 60.1 68.9 35

 36 LM263170005 Trade payables 81.6 84.8 85.8 83.2 82.9 84.8 78.8 80.1 80.6 36

 37 FL263140005 Life insurance reserves 83.8 104.6 89.0 94.2 99.4 104.6 104.9 106.0 107.0 37

 38 FL263150005 Pension entitlements 127.8 170.2 138.4 149.0 159.6 170.2 172.1 174.3 175.8 38

 39 LM263192305 U.S. direct investment abroad: debt (1,3) 63.6 16.3 72.5 84.1 65.0 16.3 -24.0 -13.5 -44.0 39

 40 FL263190005 Miscellaneous liabilities 420.5 431.6 416.6 422.5 431.3 431.6 451.8 451.9 457.1 40

 41 FL313092803 U.S. equity in IBRD, etc. 69.3 70.5 70.5 70.5 70.5 70.5 70.5 70.5 70.5 41

 42 FL263191103 Nonofficial foreign currencies 20.5 6.0 5.1 3.2 3.0 6.0 3.0 3.0 2.9 42

 43 FL263194735 Other investment by U.S. holding companies 143.0 148.9 148.7 151.8 156.3 148.9 170.3 165.3 164.0 43

 44 FL263195105 Accident and health insurance reserves 24.4 26.7 25.0 25.6 26.1 26.7 26.9 27.1 27.5 44

 45 FL263176005 Policy payables 163.3 179.5 167.3 171.4 175.5 179.5 181.0 185.9 192.2 45

 Memo:

 46 LM263164100 Foreign equities held by U.S. residents (5) 10615.0 12022.1 11098.2 11810.5 11789.4 12022.1 11420.2 9935.5 9180.4 46

 47 LM263192101 U.S. direct investment abroad: equity (3) 8162.3 9749.7 8642.0 9296.0 9245.8 9749.7 9187.2 7782.1 7115.9 47

 Financial derivatives (6)

 48 FL263098013 Gross positive fair value 2552.7 1967.6 2125.8 2068.3 2013.0 1967.6 2196.1 2334.2 ND 48

 49 FL263198013 Gross negative fair value 2546.0 1987.5 2158.9 2106.1 2046.5 1987.5 2258.5 2405.7 ND 49

(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) Collateralized loan obligations.

(3) Direct investment reported at market value.

(4) Does not include monetary gold.

(5) Includes American Depositary Receipts (ADRs).

(6) Financial derivatives are not included above.
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L.200 U.S. Official Reserve Assets and SDR Allocations (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM893111005 Total liabilities 184.6 400.9 177.9 179.4 401.2 400.9 395.9 380.0 366.2 1

 2 LM313111303 Federal government: SDR allocations 50.9 160.8 50.1 50.4 161.8 160.8 158.8 152.5 147.0 2

 3 LM263111005 Rest of the world 133.7 240.1 127.9 129.1 239.4 240.1 237.1 227.5 219.1 3

 4 LM313011303 SDR holdings 52.9 163.6 52.1 52.4 163.9 163.6 163.1 158.2 153.2 4

 5 LM263111403 Reserve position in IMF 36.4 35.8 33.7 34.3 33.9 35.8 34.8 33.1 32.0 5

 6 LM263111503 Other reserves 44.4 40.6 42.1 42.3 41.6 40.6 39.2 36.2 34.0 6

 7 FL893011005 Total assets 195.6 411.9 189.0 190.5 412.3 411.9 406.9 391.0 377.2 7

 8 FL313011005 Federal government 111.7 219.9 107.0 108.1 218.7 219.9 217.6 209.5 202.3 8

 9 FL313011205 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 LM313011303 SDR holdings 52.9 163.6 52.1 52.4 163.9 163.6 163.1 158.2 153.2 10

 11 LM313011405 Reserve position in IMF 36.6 36.1 33.9 34.6 34.2 36.1 35.1 33.3 32.3 11

 12 LM313011505 Other reserves 22.1 20.2 21.0 21.1 20.6 20.2 19.4 18.0 16.9 12

 13 LM313111303 Rest of the world: SDR allocations 50.9 160.8 50.1 50.4 161.8 160.8 158.8 152.5 147.0 13

 14 FL713011005 Monetary authority 33.1 31.2 31.9 32.0 31.7 31.2 30.5 29.0 27.9 14

 15 FL713011203 Monetary gold (2) 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

 16 FL713011405 Reserve position in IMF -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 -0.3 16

 17 LM713011505 Other reserves 22.3 20.5 21.2 21.2 21.0 20.5 19.8 18.3 17.1 17

 18 FL903011005 Discrepancy: monetary gold -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

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

 SDR certificates:

 1 FL713014003 Liab: Federal government 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 1

 2 FL713014003 Asset: Monetary authority 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 2

 Treasury currency:

 3 FL313112003 Liab: Federal government 23.1 23.0 23.1 23.1 23.0 23.0 23.0 23.0 22.6 3

 4 FL713012003 Asset: Monetary authority 50.5 50.8 50.5 50.6 50.7 50.8 51.0 51.2 51.3 4

 5 FL903012005 Discrepancy (seigniorage) -27.3 -27.8 -27.4 -27.5 -27.7 -27.8 -28.0 -28.2 -28.8 5

L.202 U.S. Deposits in Foreign Countries

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

 1 LM263191005 Total rest of the world liability 836.8 857.2 871.3 864.4 832.7 857.2 875.1 865.2 881.6 1

 Held by:

 2 LM153091003 Household sector 48.5 48.2 49.8 48.5 47.3 48.2 50.2 49.6 50.9 2

 3 FL103091003 Nonfinancial corporate business 135.0 158.8 161.0 193.6 160.4 158.8 184.4 156.1 152.8 3

 4 FL633091003 Money market funds 0.7 0.3 2.2 0.3 0.9 0.3 1.3 1.3 1.2 4

 5 FL733091003 Holding companies 20.9 19.2 26.5 20.7 18.4 19.2 22.0 7.9 12.1 5

 6 FL903091005 Discrepancy--unallocated assets 631.7 630.8 631.8 601.3 605.7 630.8 617.3 650.3 664.6 6
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L.203 Net Interbank Transactions

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL794110005 Total liabilities 3258.2 3951.5 3829.3 3654.8 4128.0 3951.5 3977.3 3311.0 3315.0 1

 2 FL714110005 Monetary authority 3094.1 3734.8 3770.3 3604.1 3948.8 3734.8 3686.5 3044.5 2954.1 2

 3 FL764110005 U.S.-chartered depository institutions 11.9 -40.1 -98.0 -62.9 -91.4 -40.1 -61.3 -100.6 -87.3 3

 4 FL754110005 Foreign banking offices in U.S. 188.7 289.0 187.3 148.3 306.4 289.0 401.2 425.8 508.6 4

 5 FL744110005 Banks in U.S.-affiliated areas -1.4 -1.3 -1.4 -1.4 -1.4 -1.3 -1.4 -1.4 -2.8 5

 6 FL474110005 Credit unions -35.2 -30.8 -28.9 -33.3 -34.3 -30.8 -47.8 -57.4 -57.6 6

 7 FL894010005 Total assets 3291.1 3967.2 3849.3 3677.5 4145.4 3967.2 3989.2 3352.0 3352.9 7

 8 FL714010005 Monetary authority 44.0 12.7 40.3 40.8 16.0 12.7 8.1 8.8 11.3 8

 9 FL763020005 U.S.-chartered depository institutions 2288.9 2668.8 2700.1 2567.0 2747.9 2668.8 2438.9 1916.7 1802.5 9

 10 FL753020005 Foreign banking offices in U.S. 602.5 830.3 811.0 799.1 966.6 830.3 1034.1 978.8 1032.1 10

 11 FL743013003 Banks in U.S.-affiliated areas 14.7 21.9 14.5 23.2 22.4 21.9 13.3 11.8 4.9 11

 12 FL473013005 Credit unions 188.0 213.8 244.6 214.8 211.9 213.8 200.3 137.2 114.6 12

 13 FL264016005 Rest of the world 152.9 219.8 38.7 32.6 180.7 219.8 294.6 298.7 387.5 13

 14 FL904010005 Discrepancy -32.9 -15.7 -20.0 -22.7 -17.3 -15.7 -12.0 -41.0 -37.8 14

 Memo:

 Vault cash:

 15 FL703025005 Liab.: Monetary authority 99.2 90.5 97.6 92.5 89.5 90.5 89.1 89.1 79.3 15

 16 FL763025000 Asset: U.S.-chartered depository institutions 99.2 90.4 97.6 92.5 89.5 90.4 89.1 89.1 79.2 16

 17 FL753025003 Foreign banking offices in U.S. 0.0 0.1 0.0 0.0 0.0 0.1 0.0 0.0 0.0 17

 Depository institution reserves:

 18 FL713113003 Liab.: Monetary authority 2994.9 3644.3 3672.7 3511.6 3859.2 3644.3 3597.4 2955.4 2874.8 18

 19 FL763013005 Asset: U.S.-chartered depository institutions 2189.8 2578.4 2602.5 2474.5 2658.4 2578.4 2349.8 1827.6 1723.2 19

 20 FL753013003 Foreign banking offices in U.S. 602.5 830.2 811.0 799.1 966.6 830.2 1034.0 978.8 1032.1 20

 21 FL743013003 Banks in U.S.-affiliated areas 14.7 21.9 14.5 23.2 22.4 21.9 13.3 11.8 4.9 21

 22 FL473013005 Credit unions 188.0 213.8 244.6 214.8 211.9 213.8 200.3 137.2 114.6 22

 Other transactions with the monetary authority

 23 FL714010075 Liab: U.S.-chartered depository institutions 43.6 12.6 40.1 40.6 15.8 12.6 8.1 8.8 11.3 23

 24 FL713068743 Credit unions 0.4 0.0 0.2 0.2 0.1 0.0 0.0 0.0 0.0 24

 25 FL714010005 Asset: Monetary authority 44.0 12.7 40.3 40.8 16.0 12.7 8.1 8.8 11.3 25

 26 FL713022003 Federal Reserve float -0.6 -0.6 -1.1 -1.1 -0.7 -0.6 -0.7 -0.8 -0.4 26

 27 FL713068705 Loans to depository institutions 44.6 13.3 41.4 41.8 16.6 13.3 8.8 9.6 11.7 27

 Transactions with banks in foreign countries (net):

 28 FL764116205 Liab.: U.S.-chartered depository institutions (net) -5.1 -17.2 -113.6 -76.5 -76.0 -17.2 -39.8 -52.4 -51.7 28

 29 FL763192605 Due to foreign affiliates 414.4 446.7 378.1 382.4 397.1 446.7 432.9 438.5 425.9 29

 30 FL763092605 - Due from foreign affiliates 419.5 463.9 491.7 458.9 473.1 463.9 472.7 490.9 477.5 30

 31 FL754116205 Foreign banking offices in U.S. (net) 207.8 308.3 206.8 169.4 318.0 308.3 412.7 433.9 516.4 31

 32 FL753192605 Due to foreign affiliates 1019.4 1092.6 1036.5 986.2 1080.5 1092.6 1163.9 1193.4 1261.0 32

 33 FL753092605 - Due from foreign affiliates 811.6 784.3 829.7 816.9 762.6 784.3 751.2 759.4 744.6 33

 34 FL264116205 Less: Deposits at foreign banks 33.6 38.6 41.0 39.8 35.5 38.6 42.1 42.5 39.5 34

 35 FL764016205 U.S.-chartered depository institutions 23.0 27.1 27.4 28.2 27.1 27.1 30.4 30.0 27.5 35

 36 FL754016205 Foreign banking offices in U.S. 10.6 11.6 13.6 11.7 8.4 11.6 11.7 12.5 12.0 36

 37 FL264135125 Loans to foreign banks 44.6 52.1 42.7 49.3 50.9 52.1 57.8 65.5 63.1 37

 38 FL764035125 U.S.-chartered depository institutions 17.6 23.3 17.9 21.4 22.7 23.3 30.3 34.3 30.7 38

 39 FL754035125 Foreign banking offices in U.S. 27.0 28.9 24.8 27.9 28.2 28.9 27.4 31.2 32.3 39

 40 FL264035125 Plus: Loans from foreign banks 28.4 19.4 29.2 28.8 25.1 19.4 21.4 25.1 25.3 40

 41 FL274135123 U.S.-chartered depository institutions 17.4 9.0 17.7 18.1 14.7 9.0 11.6 13.1 13.5 41

 42 FL284135125 Foreign banking offices in U.S. 11.0 10.4 11.5 10.8 10.4 10.4 9.8 12.0 11.9 42

 43 FL264016005 Asset: Rest of the world (1) 152.9 219.8 38.7 32.6 180.7 219.8 294.6 298.7 387.5 43

 Transactions between U.S. depository institutions (net):

 44 FL764112005 U.S.-chartered depository institutions (net) -3.4 5.7 3.0 4.4 3.8 5.7 19.4 -5.8 -2.2 44

 45 FL764112205 Due to (3): 27.7 39.0 38.5 37.5 40.6 39.0 58.6 40.9 47.4 45

 46 FL754012205 Foreign banking offices in U.S. 23.6 22.6 28.0 25.3 22.1 22.6 21.3 23.1 24.9 46

 47 FL743020005 Banks in U.S.-affiliated areas 1.4 1.3 1.4 1.4 1.4 1.3 1.4 1.4 2.8 47

 48 FL474012205 Credit unions 35.6 30.8 29.1 33.5 34.4 30.8 47.8 57.4 57.6 48

 49 FL754112205 - Due from: Foreign banking offices in U.S. 31.1 33.3 35.4 33.1 36.8 33.3 39.1 46.6 49.7 49

 50 FL904010005 Unallocated (2) -32.9 -15.7 -20.0 -22.7 -17.3 -15.7 -12.0 -41.0 -37.8 50

(1) Sum of lines 28 and 31 less line 34 and line 37 plus line 40.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 13 above. However, the unallocated amount (line 50), which is due to inconsistencies

 in source data, appears on line 14 as the discrepancy between liabilities and assets.

(3) Sum of lines 46, 47, 48, and 50.
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114 Z.1, December 9, 2022

L.204 Checkable Deposits and Currency

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL793120005 Total liabilities 9128.3 9359.0 9036.0 9128.0 8847.5 9359.0 9838.6 10148.4 10090.7 1

 2 FL713120005 Monetary authority 3945.7 2817.5 3521.6 3178.0 2571.1 2817.5 3109.2 3229.3 3069.8 2

 3 FL713123005 Federal government cash and deposits 1728.6 406.2 1122.0 852.0 215.2 406.2 651.6 782.5 636.1 3

 4 FL713124005 Due to government-sponsored enterprises 51.0 33.9 134.1 28.6 33.2 33.9 29.8 25.9 20.3 4

 5 FL713129005 Due to other financial business 154.2 221.9 185.8 201.1 209.5 221.9 241.4 220.7 205.8 5

 6 FL713122605 Deposits due to foreign 21.9 9.4 33.2 5.3 5.7 9.4 7.5 7.5 7.5 6

 7 FL713125005 Currency outside banks 1989.9 2146.2 2046.5 2091.0 2107.5 2146.2 2178.9 2192.7 2200.2 7

 8 FL763127005 U.S.-chartered depository institutions 4572.5 5821.2 4804.0 5235.9 5544.7 5821.2 5970.3 6144.3 6240.6 8

 9 FL763123005 Federal government deposits 2.7 2.6 2.4 4.5 3.6 2.6 2.8 2.9 3.2 9

 10 FL763128000 State and local government deposits 229.9 345.6 248.9 296.6 318.5 345.6 351.1 360.9 353.4 10

 11 FL763122605 Deposits due to foreign 61.9 82.4 58.6 76.2 81.6 82.4 90.8 72.6 88.7 11

 12 FL763129205 Private domestic deposits 4278.0 5390.7 4494.1 4858.7 5140.9 5390.7 5525.6 5707.7 5795.3 12

 13 FL753127005 Foreign banking offices in U.S. 256.3 282.0 306.8 296.0 304.9 282.0 307.5 326.8 310.4 13

 14 FL753122603 Deposits due to foreign 112.8 122.5 119.6 132.1 124.0 122.5 126.8 126.1 110.0 14

 15 FL753129205 Private domestic deposits 143.5 159.5 187.2 164.0 180.8 159.5 180.7 200.7 200.3 15

 16 FL743127003 Banks in U.S.-affiliated areas 56.7 64.0 62.5 69.3 65.9 64.0 56.5 57.9 60.5 16

 17 FL473127003 Credit unions 297.1 374.2 341.1 348.8 361.0 374.2 395.2 390.1 409.4 17

 18 FL793120005 Total assets 9128.3 9359.0 9036.0 9128.0 8847.5 9359.0 9838.6 10148.4 10090.7 18

 19 FL153020005 Household sector 3182.2 4280.2 3587.0 3944.2 4062.2 4280.2 4508.4 4831.1 5123.3 19

 20 FL143020005 Nonfinancial business 2134.0 2353.6 2110.1 2111.8 2272.8 2353.6 2333.8 2222.7 2032.9 20

 21 FL103020000 Corporate 1740.9 1882.2 1706.7 1693.5 1835.3 1882.2 1830.4 1706.0 1520.9 21

 22 FL113020005 Noncorporate 393.2 471.5 403.4 418.3 437.6 471.5 503.4 516.7 511.9 22

 23 FL313020005 Federal government 1732.1 410.1 1117.1 855.7 219.1 410.1 655.9 789.5 643.3 23

 24 FL213020005 State and local governments 229.9 345.6 248.9 296.6 318.5 345.6 351.1 360.9 353.4 24

 25 FL793020005 Domestic financial sectors 704.2 758.8 794.0 732.6 783.3 758.8 749.6 722.7 713.0 25

 26 FL513020005 Property-casualty insurance companies 50.2 72.7 59.2 55.9 70.1 72.7 57.4 54.6 62.3 26

 27 FL543020005 Life insurance companies 127.7 119.3 118.3 133.2 127.3 119.3 111.8 107.3 112.3 27

 28 FL573020005 Private pension funds 20.0 21.6 20.4 20.8 21.1 21.6 21.9 22.2 22.7 28

 29 FL343020033 Federal government retirement funds 1.0 1.5 1.1 1.2 1.3 1.5 1.6 1.7 1.9 29

 30 FL223020043 State and local govt. retirement funds 28.0 27.3 24.9 25.9 33.3 27.3 27.7 30.2 31.3 30

 31 FL403020005 Government-sponsored enterprises 92.5 62.6 153.9 68.6 86.4 62.6 52.5 54.3 44.7 31

 32 FL613020003 Finance companies 16.4 14.4 15.7 16.3 16.5 14.4 10.2 9.7 8.0 32

 33 FL643020005 REITs 62.5 59.3 61.6 63.4 64.2 59.3 60.9 52.6 53.1 33

 34 FL663020003 Brokers and dealers 138.4 140.7 136.9 132.6 137.1 140.7 146.6 150.1 153.2 34

 35 FL503020005 Other financial business 167.6 239.6 202.2 214.7 225.8 239.6 259.1 239.9 223.5 35

 36 FL263020005 Rest of the world 1143.1 1209.1 1168.1 1182.9 1188.0 1209.1 1237.4 1221.5 1224.9 36

 37 FL263027003 Checkable deposits 196.5 214.2 211.5 213.6 211.4 214.2 225.1 206.3 206.2 37

 38 FL263025003 Currency 946.5 994.9 956.6 969.3 976.6 994.9 1012.3 1015.2 1018.7 38

 39 FL903020005 Mail float 2.8 1.6 10.8 4.3 3.5 1.6 2.4 0.0 -0.1 39
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Z.1, December 9, 2022 115

L.205 Time and Savings Deposits 

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL703130005 Total liabilities 13680.1 14438.3 14195.4 13990.4 14136.6 14438.3 14543.8 14096.3 13822.1 1

 2 FL763130005 U.S.-chartered depository institutions 11461.5 12092.9 11864.7 11661.0 11809.0 12092.9 12111.1 11630.1 11350.1 2

 3 FL753130005 Foreign banking offices in U.S. 858.0 862.2 893.1 885.8 866.9 862.2 907.5 934.6 945.9 3

 4 FL743130003 Banks in U.S.-affiliated areas 42.9 40.7 47.4 48.2 43.2 40.7 38.6 37.3 40.1 4

 5 FL473130005 Credit unions 1317.7 1442.5 1390.2 1395.4 1417.4 1442.5 1486.6 1494.3 1486.0 5

 6 FL703130005 Total assets 13680.1 14438.3 14195.4 13990.4 14136.6 14438.3 14543.8 14096.3 13822.1 6

 7 FL153030005 Household sector 10418.6 11215.9 10937.0 10764.5 10900.5 11215.9 11259.5 10812.9 10454.7 7

 8 FL143030005 Nonfinancial business 1446.5 1540.6 1453.2 1474.4 1521.8 1540.6 1577.7 1573.0 1587.2 8

 9 FL103030003 Corporate 278.1 276.8 275.0 281.3 307.3 276.8 270.4 266.1 281.0 9

 10 FL113030003 Noncorporate 1168.4 1263.8 1178.2 1193.1 1214.4 1263.8 1307.3 1306.9 1306.2 10

 11 FL313030003 Federal government 1.0 2.4 9.9 1.3 1.7 2.4 2.4 1.6 1.6 11

 12 FL213030000 State and local governments 413.6 382.4 406.2 392.0 384.8 382.4 375.2 353.8 353.1 12

 13 FL793030005 Domestic financial sectors 735.2 604.3 700.2 665.8 643.9 604.3 586.9 641.3 679.8 13

 14 FL573030005 Private pension funds 16.8 10.9 15.6 14.1 12.6 10.9 9.5 8.3 6.6 14

 15 FL223030043 State and local govt. retirement funds 2.2 2.7 2.2 2.3 2.0 2.7 0.2 1.9 1.8 15

 16 FL633030000 Money market funds 164.1 143.6 214.5 176.1 179.1 143.6 174.9 187.2 210.1 16

 17 FL403030005 Government-sponsored enterprises 8.8 6.6 7.2 6.3 6.3 6.6 7.5 10.3 13.5 17

 18 FL613030003 Finance companies 49.3 43.1 47.2 48.8 49.6 43.1 30.6 29.1 24.1 18

 19 FL733030005 Holding companies 494.0 397.5 413.5 418.2 394.3 397.5 364.2 404.5 423.6 19

 20 FL263030005 Rest of the world 665.1 692.7 688.8 692.4 683.9 692.7 742.1 713.7 745.8 20

L.206 Money Market Fund Shares

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

 1 FL634090005 Total assets 4765.9 5205.5 4980.0 5015.4 5019.2 5205.5 5090.7 5032.4 5084.2 1

 2 FL153034005 Household sector 2701.9 2803.3 2792.5 2775.2 2709.0 2803.3 2724.5 2729.2 2780.5 2

 3 FL103034000 Nonfinancial corporate business 712.1 813.1 747.0 761.1 769.3 813.1 784.6 776.2 781.3 3

 4 FL113034003 Nonfinancial noncorporate business 117.2 119.5 117.9 118.3 118.9 119.5 120.2 122.6 124.2 4

 5 FL213034003 State and local governments 40.0 55.3 44.1 47.1 49.9 55.3 53.4 52.8 53.1 5

 6 FL513034005 Property-casualty insurance companies 34.7 31.5 36.6 30.8 34.4 31.5 23.1 21.5 24.0 6

 7 FL543034005 Life insurance companies 66.5 64.2 63.5 69.4 67.3 64.2 61.7 73.1 79.6 7

 8 FL573034005 Private pension funds 205.5 230.2 209.7 217.3 223.3 230.2 235.4 241.6 248.7 8

 9 FL223034005 State and local govt. retirement funds 23.7 19.0 25.7 23.8 31.5 19.0 25.3 24.1 24.2 9

 10 FL653034003 Mutual Funds 267.2 267.4 294.3 285.7 301.6 267.4 294.4 248.9 232.9 10

 11 FL563034003 Exchange-traded funds 33.9 38.6 31.5 33.4 40.4 38.6 34.8 28.9 27.9 11

 12 FL503034005 Other financial business 426.4 605.6 472.8 501.4 521.7 605.6 579.1 560.9 553.8 12

 13 FL263034003 Rest of the world 137.0 157.7 144.5 152.0 152.1 157.7 154.2 152.5 154.0 13
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116 Z.1, December 9, 2022

L.207 Federal Funds and Security Repurchase Agreements (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL892150005 Total liabilities 4228.6 5854.9 4058.7 4835.2 5525.1 5854.9 5715.3 6150.6 6309.5 1

 2 FL712151003 Monetary authority 216.1 2183.0 352.2 1260.9 1905.2 2183.0 2121.0 2601.2 2720.4 2

 3 FL762150005 U.S.-chartered depository institutions 170.9 161.0 187.5 143.1 150.7 161.0 156.1 168.6 177.0 3

 4 FL762152005 Federal funds (2) 21.5 14.8 19.9 19.9 17.5 14.8 17.3 26.3 37.7 4

 5 FL762151005 Security repurchase agreements 149.4 146.3 167.6 123.2 133.3 146.3 138.7 142.3 139.4 5

 6 FL752150005 Foreign banking offices in U.S. 545.0 527.5 557.5 542.0 568.4 527.5 544.5 492.6 475.8 6

 7 FL752152005 Federal funds (2) 12.3 11.5 24.4 30.2 26.4 11.5 26.3 21.5 23.8 7

 8 FL752151005 Security repurchase agreements 532.6 515.9 533.1 511.7 542.0 515.9 518.2 471.0 452.0 8

 9 FL472150053 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FL512151003 Property-casualty insurance companies 0.2 0.1 0.2 0.2 0.2 0.1 0.1 0.1 0.2 10

 11 FL542151073 Life insurance companies 18.6 20.1 16.8 17.7 19.8 20.1 18.5 16.1 18.5 11

 12 FL402150005 Government-sponsored enterprises 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL642151073 REITs 224.4 219.8 221.1 213.5 208.4 219.8 209.9 200.4 199.9 13

 14 FL662151003 Brokers and dealers 1774.2 1570.4 1573.6 1550.5 1554.7 1570.4 1523.6 1533.6 1613.4 14

 15 FL732151003 Holding companies 0.0 0.0 0.1 0.1 0.1 0.0 0.1 0.0 0.0 15

 16 FL262151003 Rest of the world 1279.2 1173.0 1149.6 1107.1 1117.6 1173.0 1141.7 1137.9 1104.2 16

 17 FL892050005 Total assets 4839.0 6235.2 4637.5 5256.7 5918.9 6235.2 6124.4 6465.1 6694.7 17

 18 FL102051003 Nonfinancial corporate business 37.0 25.1 22.3 36.2 27.0 25.1 27.8 22.8 20.5 18

 19 FL212051003 State and local governments 179.2 189.2 181.7 184.2 186.7 189.2 191.7 194.2 196.8 19

 20 FL712051000 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL762050005 U.S.-chartered depository institutions 538.3 317.4 294.3 300.1 287.5 317.4 298.5 281.0 308.0 21

 22 FL762052005 Federal funds (2) 25.4 25.6 27.6 27.3 25.7 25.6 22.6 17.9 19.8 22

 23 FL762051005 Security repurchase agreements 512.8 291.8 266.7 272.7 261.7 291.8 275.9 263.1 288.2 23

 24 FL752050005 Foreign banking offices in U.S. 323.7 259.5 307.7 276.2 299.4 259.5 265.1 275.1 286.7 24

 25 FL752052005 Federal funds (2) 0.3 0.2 1.0 0.1 0.3 0.2 0.5 0.3 0.3 25

 26 FL752051005 Security repurchase agreements 323.3 259.3 306.7 276.1 299.1 259.3 264.6 274.8 286.5 26

 27 FL472050053 Credit unions 0.5 0.2 0.5 0.3 0.3 0.2 0.2 0.2 0.2 27

 28 FL472052053 Federal funds 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.1 0.1 28

 29 FL472051053 Security repurchase agreements 0.4 0.1 0.4 0.1 0.1 0.1 0.1 0.1 0.1 29

 30 FL512051005 Property-casualty insurance companies 2.2 2.2 2.3 2.5 2.3 2.2 1.4 1.7 1.9 30

 31 FL542051075 Life insurance companies 8.2 9.8 7.7 8.3 9.4 9.8 9.0 7.8 9.0 31

 32 FL572051005 Private pension funds 18.4 25.8 19.9 21.8 23.7 25.8 27.4 29.0 31.1 32

 33 FL222051043 State and local govt. retirement funds 7.8 30.5 18.4 24.2 15.7 30.5 20.2 22.1 21.6 33

 34 FL632051000 Money market funds 1068.7 2495.7 1194.8 1714.7 2263.5 2495.7 2376.9 2595.9 2742.9 34

 35 FL652051003 Mutual funds (net) -10.4 19.6 8.7 23.9 16.4 19.6 16.3 26.3 24.6 35

 36 FL402050005 Government-sponsored enterprises 212.5 209.7 146.8 256.8 215.2 209.7 218.2 277.3 304.5 36

 37 FL402052033 Of which: FHLB federal funds (3) 31.5 47.4 54.3 47.9 51.9 47.4 57.3 71.7 90.2 37

 38 FL662051003 Brokers and dealers 1322.1 1255.4 1238.0 1133.4 1211.2 1255.4 1324.4 1345.5 1330.5 38

 39 FL732051003 Holding companies 41.4 26.1 29.4 15.8 30.1 26.1 17.8 23.8 29.2 39

 40 FL502051005 Other financial business 5.4 3.6 3.2 4.1 3.9 3.6 3.9 4.6 4.4 40

 41 FL262051005 Rest of the world 1084.0 1365.4 1161.8 1254.1 1326.4 1365.4 1325.7 1357.7 1383.0 41

 42 FL902050005 Discrepancy -610.4 -380.3 -578.9 -421.5 -393.7 -380.3 -409.1 -314.5 -385.3 42

 Memo:

 43 FL072052006 Effective federal funds rate (percent) (4) 0.09 0.08 0.07 0.08 0.08 0.08 0.20 1.21 2.56 43

 Federal Reserve’s reverse repurchase agreement operations:

 44 FL712151103 Liability: Monetary authority (5) 9.7 1904.6 134.3 991.9 1604.9 1904.6 1872.0 2329.7 2425.9 44

 45 FL632051103 Asset: Money market funds (6) 9.7 1739.7 125.3 855.1 1438.9 1739.7 1658.1 2062.9 2220.6 45

 46 FL792051115 Other financial institutions (7) 0.0 164.9 9.0 136.8 165.9 164.9 213.9 266.9 205.3 46

(1) Detailed data on federal funds and security repurchase agreements are available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 1997:Q1 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) Included in line 2.

(6) Included in line 34.

(7) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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Z.1, December 9, 2022 117

L.208 Debt Securities (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FL894122005 Total debt securities 53007.9 56245.8 53787.2 54598.5 54916.3 56245.8 57241.3 57334.0 57831.4 1

 2 FL893169175 Open market paper 925.5 1089.4 1109.8 1090.0 1076.0 1089.4 1177.2 1201.5 1199.3 2

 3 FL313161105 Treasury securities 23600.9 25284.7 23943.0 24301.5 24249.9 25284.7 26016.5 26050.7 26468.7 3

 4 FL893161705 Agency- and GSE-backed securities 10086.7 10699.1 10226.4 10407.5 10535.9 10699.1 10926.8 11195.4 11442.4 4

 5 FL383162005 Municipal securities 3988.8 4066.7 4015.5 4038.7 4057.0 4066.7 4045.2 4049.5 4032.8 5

 6 FL893163005 Corporate and foreign bonds 14406.1 15106.0 14492.6 14760.9 14997.5 15106.0 15075.6 14836.9 14688.2 6

 By sector

 7 FL894122005 Total liabilities 53007.9 56245.8 53787.2 54598.5 54916.3 56245.8 57241.3 57334.0 57831.4 7

 8 FL384122005 Domestic nonfinancial sectors 34282.6 36248.9 34784.7 35191.4 35226.5 36248.9 37050.2 37040.4 37455.4 8

 9 FL163162003 Nonprofit organizations (2) 201.7 200.1 202.2 202.1 201.0 200.1 202.1 199.8 199.1 9

 10 FL104122005 Nonfinancial corporate business 7277.3 7492.7 7412.2 7442.1 7512.9 7492.7 7587.9 7542.7 7551.2 10

 11 FL314122005 Federal government 23621.1 25304.5 23962.8 24321.4 24269.4 25304.5 26035.9 26070.4 26488.1 11

 12 FL213162005 State and local governments 3182.7 3251.6 3207.4 3225.8 3243.1 3251.6 3224.3 3227.6 3216.9 12

 13 FL794122005 Domestic financial sectors 14971.3 15764.6 15117.2 15362.7 15479.7 15764.6 16161.4 16497.3 16709.4 13

 14 FL764122005 U.S.-chartered depository institutions 436.9 342.0 418.8 368.9 336.3 342.0 375.6 417.9 420.9 14

 15 FL753169175 Foreign banking offices in U.S. 65.3 60.4 66.0 58.7 52.4 60.4 84.8 104.1 104.7 15

 16 FL403161705 Government-sponsored enterprises 7638.1 8177.6 7775.1 7928.1 8041.7 8177.6 8372.6 8591.9 8785.7 16

 17 FL413065005 Agency- and GSE-backed mortgage pools 2428.3 2501.8 2431.4 2459.6 2474.7 2501.8 2534.7 2583.8 2637.4 17

 18 FL674122005 ABS issuers 1223.7 1379.9 1228.7 1255.5 1307.2 1379.9 1417.3 1445.1 1461.2 18

 19 FL614122005 Finance companies 815.2 769.1 795.0 799.0 761.7 769.1 768.2 785.0 812.9 19

 20 FL644122005 REITs 581.9 634.5 588.7 614.4 616.0 634.5 643.2 653.0 651.3 20

 21 FL663163003 Brokers and dealers 183.9 217.7 196.3 204.5 214.6 217.7 260.8 249.2 223.6 21

 22 FL734122005 Holding companies 1479.9 1544.9 1442.2 1524.8 1517.7 1544.9 1531.1 1516.6 1470.7 22

 23 FL504122005 Other financial business 118.2 136.7 174.9 149.3 157.5 136.7 173.0 150.6 141.0 23

 24 LM264122005 Rest of the world 3753.9 4232.4 3885.3 4044.5 4210.2 4232.4 4029.7 3796.3 3666.6 24

 25 FL894022005 Total assets 55641.9 57382.3 55032.6 56351.1 56419.6 57382.3 56009.3 54156.0 52954.5 25

 26 FL384022005 Domestic nonfinancial sectors 6282.1 5500.4 5579.7 5678.8 5860.8 5500.4 5843.4 6282.6 6938.2 26

 27 LM154022005 Household sector 3936.8 2883.4 3338.8 3192.3 3294.8 2883.4 3305.2 3594.1 4305.9 27

 28 LM104022005 Nonfinancial corporate business 364.3 384.0 334.5 362.5 370.3 384.0 360.7 384.1 344.8 28

 29 LM114022005 Nonfinancial noncorporate business 82.3 80.8 79.8 80.0 79.3 80.8 76.8 78.8 86.8 29

 30 FL314022005 Federal government 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 30

 31 LM214022005 State and local governments 1898.1 2151.8 1826.1 2043.6 2116.0 2151.8 2100.2 2225.1 2200.2 31

 32 FL794022005 Domestic financial sectors 36105.6 38275.3 36345.6 37214.5 37082.7 38275.3 36980.3 35168.5 33689.6 32

 33 LM714022005 Monetary authority 7422.2 8733.2 7548.3 8010.8 8412.3 8733.2 8470.4 8043.4 7507.3 33

 34 LM764022005 U.S.-chartered depository institutions 5202.1 6318.7 5568.0 5825.0 6055.2 6318.7 6242.0 6016.2 5659.3 34

 35 LM754022005 Foreign banking offices in U.S. 313.5 286.1 294.7 289.4 289.5 286.1 280.8 295.5 304.4 35

 36 LM744022003 Banks in U.S.-affiliated areas 41.3 47.5 43.8 42.4 47.3 47.5 47.8 51.3 54.5 36

 37 LM474022005 Credit unions 311.1 403.1 374.2 375.9 387.2 403.1 414.7 425.8 400.8 37

 38 LM514022005 Property-casualty insurance companies 1270.2 1320.1 1249.7 1308.4 1311.6 1320.1 1231.8 1179.5 1144.9 38

 39 LM544022005 Life insurance companies 4431.1 4452.1 4247.6 4368.4 4412.2 4452.1 4170.6 3912.5 3760.0 39

 40 LM574022005 Private pension funds 1719.6 1684.4 1639.6 1686.4 1682.7 1684.4 1579.9 1506.6 1449.0 40

 41 LM344022005 Federal government retirement funds 2326.6 2483.6 2317.7 2332.6 2140.4 2483.6 2512.1 2535.2 2580.0 41

 42 LM224022045 State and local govt. retirement funds 1074.6 1209.1 1083.2 1171.2 1173.4 1209.1 1144.9 1068.6 1028.8 42

 43 FL634022005 Money market funds 3525.2 2568.8 3606.1 3185.2 2534.5 2568.8 2514.9 2224.6 2113.2 43

 44 LM654022005 Mutual funds 5539.5 5897.7 5586.2 5762.3 5861.0 5897.7 5559.5 5085.8 4785.2 44

 45 LM554022005 Closed-end funds 175.7 186.6 178.3 183.1 185.7 186.6 173.4 159.0 151.0 45

 46 LM564022005 Exchange-traded funds 1041.5 1214.4 1057.7 1133.5 1173.0 1214.4 1179.3 1172.0 1177.0 46

 47 LM404022005 Government-sponsored enterprises 520.1 430.2 471.9 450.5 440.1 430.2 432.8 404.3 398.8 47

 48 FL674022005 ABS issuers 30.3 31.9 28.6 27.4 28.7 31.9 34.5 35.7 36.3 48

 49 LM613063003 Finance companies 73.6 98.7 69.7 77.6 83.8 98.7 90.6 83.9 83.3 49

 50 LM644022005 REITs 236.8 200.2 223.2 216.1 197.3 200.2 192.6 171.5 183.4 50

 51 LM664022005 Brokers and dealers 389.1 196.6 187.2 216.3 204.4 196.6 138.9 175.5 246.2 51

 52 LM734022605 Holding companies 122.4 146.4 145.5 144.1 139.1 146.4 148.9 166.4 176.4 52

 53 FL504022005 Other financial business 339.1 366.0 424.4 408.0 323.4 366.0 419.8 455.0 449.9 53

 54 LM264022005 Rest of the world 13254.2 13606.6 13107.3 13457.8 13476.0 13606.6 13185.6 12704.8 12326.7 54

 55 LM904022005 Discrepancy (3) -2634.0 -1136.4 -1245.4 -1752.6 -1503.3 -1136.4 1232.0 3178.0 4876.9 55

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.

(2) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

(3) The accumulated valuation difference between issuance and holdings.
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L.209 Open Market Paper

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893169175 Total liabilities 925.5 1089.4 1109.8 1090.0 1076.0 1089.4 1177.2 1201.5 1199.3 1

 2 FL893169105 Commercial paper 925.5 1089.4 1109.8 1090.0 1076.0 1089.4 1177.2 1201.5 1199.3 2

 3 FL103169100 Nonfinancial corporate business 132.2 138.2 144.0 132.0 122.4 138.2 188.7 188.1 199.1 3

 4 FL263169105 Foreign issues in U.S. 217.7 421.7 365.7 436.4 451.8 421.7 343.6 323.9 314.4 4

 5 FL263169110 Nonfinancial 17.4 38.3 29.1 37.9 41.0 38.3 30.6 28.3 25.6 5

 6 FL263169123 Financial 200.3 383.4 336.5 398.5 410.7 383.4 313.0 295.6 288.8 6

 7 FL793169100 Financial business 575.6 529.4 600.1 521.6 501.8 529.4 644.9 689.5 685.9 7

 8 FL763169103 U.S.-chartered depository institutions 180.4 134.9 172.4 147.9 132.2 134.9 151.7 173.5 175.0 8

 9 FL753169103 Foreign banking offices in U.S. 65.3 60.4 66.0 58.7 52.4 60.4 84.8 104.1 104.7 9

 10 FL673169105 ABS issuers 164.8 148.1 139.7 118.4 114.4 148.1 190.9 214.1 214.5 10

 11 FL613169100 Finance companies 41.8 41.3 41.5 40.9 38.9 41.3 37.1 38.4 41.4 11

 12 FL643169173 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL733169103 Holding companies 5.2 8.1 5.5 6.5 6.5 8.1 7.5 8.8 9.2 13

 14 FL503169105 Other financial business 118.2 136.7 174.9 149.3 157.5 136.7 173.0 150.6 141.0 14

 15 FL703169605 Bankers’ acceptances (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 FL763169603 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 FL753169603 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL893169175 Total assets 925.5 1089.4 1109.8 1090.0 1076.0 1089.4 1177.2 1201.5 1199.3 18

 19 FL103069100 Nonfinancial corporate business 250.9 253.0 235.5 269.1 250.1 253.0 229.0 245.4 210.0 19

 20 FL213069103 State and local governments 77.1 81.1 78.1 79.1 80.1 81.1 82.1 83.2 84.2 20

 21 FL713069603 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL763069175 U.S.-chartered depository institutions (1) 2.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL753069603 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 FL473069153 Credit unions 0.3 0.3 0.2 0.1 0.0 0.3 0.5 0.4 0.1 24

 25 FL513069105 Property-casualty insurance companies 8.9 4.5 8.1 7.8 5.8 4.5 3.0 3.5 4.0 25

 26 FL543069105 Life insurance companies 34.0 41.0 32.6 34.8 38.7 41.0 39.0 36.3 40.8 26

 27 FL573069105 Private pension funds 40.7 42.5 41.0 41.6 42.0 42.5 42.9 43.2 43.7 27

 28 FL223069143 State and local govt. retirement funds 8.6 14.6 15.3 18.1 18.7 14.6 23.3 22.2 23.3 28

 29 FL633069175 Money market funds 232.3 226.2 275.9 236.1 249.6 226.2 233.0 221.1 245.4 29

 30 FL653069100 Mutual funds 50.0 39.5 53.8 49.7 49.0 39.5 45.2 36.8 34.5 30

 31 FL403069105 Government-sponsored enterprises 7.3 4.7 7.0 5.4 4.7 4.7 6.4 7.9 9.8 31

 32 FL663069103 Brokers and dealers 8.2 16.3 9.2 11.7 14.0 16.3 22.2 15.6 23.4 32

 33 FL503069105 Other financial business 119.0 227.4 251.5 243.7 176.5 227.4 276.7 320.1 304.7 33

 34 LM263069103 Rest of the world 86.3 138.3 101.4 92.8 146.7 138.3 173.9 165.9 175.6 34

(1) Excludes banks’ holdings of own acceptances.
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L.210 Treasury Securities (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL313161105 Total liabilities 23600.9 25284.7 23943.0 24301.5 24249.9 25284.7 26016.5 26050.7 26468.7 1

 2 FL313161205 Marketable Treasury securities 20946.2 22557.5 21347.4 21699.0 21846.1 22557.5 23246.1 23253.4 23616.7 2

 3 FL313161110 Treasury bills 4963.1 3768.0 4667.8 4273.7 3713.0 3768.0 3927.3 3522.6 3643.7 3

 4 FL313161275 Other Treasury notes, bonds, and TIPS 15975.8 18783.5 16672.3 17419.3 18127.1 18783.5 19312.8 19725.9 19968.2 4

 5 FL313161283 Held in the Civil Service Retirement Fund (2) 7.3 6.1 7.3 6.1 6.1 6.1 6.1 4.8 4.8 5

 6 FL313161305 Nonmarketable Treasury securities 2654.7 2727.2 2595.6 2602.5 2403.8 2727.2 2770.4 2797.3 2852.0 6

 7 FL313161400 U.S. savings securities 147.0 146.1 145.7 144.6 143.6 146.1 149.7 160.3 166.2 7

 8 FL213061120 State and local government series (SLGS) 115.8 109.7 121.7 122.8 127.0 109.7 118.3 108.2 109.2 8

 9 FL343061123 Thrift Savings Plan G Fund 292.7 285.7 292.3 295.0 116.1 285.7 313.2 318.5 315.4 9

 10 FL343061145 Federal govt. defined benefit pension plans 1980.8 2149.0 1974.6 1987.6 1976.3 2149.0 2153.1 2176.0 2226.4 10

 11 FL503061303 Held by Federal Reserve credit facility LLCs 95.7 18.1 42.6 34.1 22.3 18.1 18.1 15.3 15.4 11

 12 FL313161375 Other nonmarketable securities 22.7 18.6 18.8 18.5 18.5 18.6 18.1 18.9 19.4 12

 13 FL893061105 Total assets 24650.6 25642.3 24352.6 24883.8 24774.8 25642.3 25570.9 25028.7 24756.8 13

 14 LM153061105 Household sector 1368.5 590.9 1057.0 806.4 942.1 590.9 1074.1 1201.4 1729.0 14

 15 FL313161400 U.S. savings securities (line 7) 147.0 146.1 145.7 144.6 143.6 146.1 149.7 160.3 166.2 15

 16 LM153061185 Other Treasury securities 1221.4 444.8 911.3 661.8 798.6 444.8 924.4 1041.1 1562.9 16

 17 LM103061103 Nonfinancial corporate business 72.9 85.9 62.1 57.7 77.9 85.9 87.3 92.9 90.5 17

 18 LM113061003 Nonfinancial noncorporate business 78.1 76.1 75.4 75.5 74.7 76.1 72.3 74.3 82.2 18

 19 LM213061105 State and local governments 1111.9 1440.7 1099.6 1313.7 1394.2 1440.7 1420.0 1555.5 1537.4 19

 20 FL213061120 SLGS (line 8) 115.8 109.7 121.7 122.8 127.0 109.7 118.3 108.2 109.2 20

 21 LM213061103 Other Treasury securities 996.1 1331.0 977.9 1190.9 1267.2 1331.0 1301.7 1447.3 1428.2 21

 22 LM713061103 Monetary authority 5254.6 6052.1 5273.2 5596.5 5831.3 6052.1 5851.4 5563.8 5186.5 22

 23 LM713061113 Treasury bills 326.0 325.9 326.0 326.0 326.0 325.9 325.4 324.5 307.4 23

 24 LM713061125 Other Treasury securities 4928.6 5726.1 4947.2 5270.5 5505.3 5726.1 5526.0 5239.3 4879.1 24

 25 LM763061100 U.S.-chartered depository institutions 1044.4 1472.3 1111.3 1195.7 1297.6 1472.3 1471.3 1488.5 1407.7 25

 26 LM753061103 Foreign banking offices in U.S. 99.8 86.9 86.2 83.8 85.5 86.9 89.4 96.0 92.5 26

 27 LM743061103 Banks in U.S.-affiliated areas 13.8 19.6 15.3 15.5 18.4 19.6 19.6 23.0 26.8 27

 28 LM473061105 Credit unions 45.5 62.6 50.8 51.5 55.0 62.6 74.0 79.5 82.5 28

 29 LM513061105 Property-casualty insurance companies 157.5 187.9 164.7 186.7 186.3 187.9 161.6 167.0 175.4 29

 30 LM513061115 Treasury bills 51.9 54.3 54.7 61.8 56.0 54.3 36.2 43.4 49.2 30

 31 LM513061125 Other Treasury securities 105.6 133.6 109.9 124.9 130.3 133.6 125.4 123.6 126.2 31

 32 LM543061105 Life insurance companies 240.7 231.4 227.2 234.4 237.5 231.4 213.2 201.2 196.1 32

 33 LM543061115 Treasury bills 15.6 9.4 12.4 11.4 10.9 9.4 8.6 7.7 9.5 33

 34 LM543061125 Other Treasury securities 225.1 222.0 214.8 223.0 226.5 222.0 204.6 193.5 186.6 34

 35 LM573061105 Private pension funds 462.8 469.9 442.7 458.4 462.7 469.9 447.6 435.7 421.7 35

 36 LM573061143 Defined benefit plans 268.8 264.3 255.8 261.6 262.3 264.3 250.4 241.8 232.2 36

 37 LM573061133 Defined contribution plans 194.1 205.6 186.9 196.9 200.4 205.6 197.2 193.9 189.5 37

 38 LM343061105 Federal government retirement funds (3) 2297.5 2456.8 2289.7 2304.3 2113.7 2456.8 2487.3 2512.9 2559.2 38

 39 LM343061165 Defined benefit plans 1989.3 2156.2 1983.1 1995.0 1983.5 2156.2 2160.2 2181.8 2232.2 39

 40 LM343061155 Defined contribution plans 308.2 300.6 306.6 309.3 130.2 300.6 327.0 331.1 327.0 40

 41 LM223061143 State and local govt. retirement funds 346.8 430.9 344.8 395.9 406.3 430.9 380.0 378.7 366.3 41

 42 FL633061105 Money market funds 2465.9 1814.7 2583.2 2288.1 1694.7 1814.7 1759.4 1459.0 1256.1 42

 43 FL633061110 Treasury bills 2075.3 1197.1 2098.8 1784.0 1130.7 1197.1 1155.5 902.5 767.0 43

 44 FL633061120 Other Treasury securities 390.7 617.6 484.4 504.1 564.0 617.6 603.9 556.5 489.2 44

 45 LM653061105 Mutual funds 1315.9 1592.3 1365.5 1487.5 1539.6 1592.3 1521.3 1423.3 1346.3 45

 46 LM653061113 Treasury bills 45.7 47.5 43.0 40.2 36.0 47.5 40.4 37.8 30.5 46

 47 LM653061125 Other Treasury securities 1270.2 1544.8 1322.5 1447.4 1503.6 1544.8 1480.9 1385.5 1315.8 47

 48 LM553061103 Closed-end funds 3.0 3.1 3.0 3.1 3.1 3.1 2.9 3.5 3.3 48

 49 LM563061103 Exchange-traded funds 270.1 331.2 274.0 292.5 305.0 331.2 335.5 361.9 381.1 49

 50 LM403061105 Government-sponsored enterprises 259.2 202.4 224.9 210.9 205.1 202.4 210.4 180.6 168.3 50

 51 FL673061103 ABS issuers 30.3 31.9 28.6 27.4 28.7 31.9 34.5 35.7 36.3 51

 52 LM663061105 Brokers and dealers 215.2 99.0 95.5 113.0 93.5 99.0 83.3 89.5 127.0 52

 53 LM733061103 Holding companies 61.6 92.6 84.2 86.5 83.8 92.6 99.8 120.6 130.6 53

 54 FL503061105 Other financial business 143.0 63.6 97.8 79.5 67.3 63.6 61.0 53.4 56.9 54

 55 LM263061105 Rest of the world 7291.6 7747.7 7295.9 7518.9 7570.9 7747.7 7613.6 7430.8 7296.9 55

 56 LM263061110 Treasury bills 1027.3 987.4 966.5 926.7 928.4 987.4 1008.4 894.5 919.6 56

 57 LM263061120 Other Treasury securities 6264.3 6760.3 6329.4 6592.1 6642.5 6760.3 6605.2 6536.4 6377.3 57

 58 LM903061103 Discrepancy (4) -1049.7 -357.6 -409.6 -582.2 -524.9 -357.6 445.6 1021.9 1711.9 58

(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.

(3) Comprised primarily of nonmarketable Treasury securities.

(4) The accumulated valuation difference between issuance and holdings.
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L.211 Agency- and GSE-Backed Securities (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893161705 Total liabilities 10086.7 10699.1 10226.4 10407.5 10535.9 10699.1 10926.8 11195.4 11442.4 1

 2 FL313161705 Budget agencies 20.2 19.8 19.8 19.8 19.5 19.8 19.4 19.7 19.4 2

 3 FL403161705 Government-sponsored enterprises 7638.1 8177.6 7775.1 7928.1 8041.7 8177.6 8372.6 8591.9 8785.7 3

 4 FL413065005 Agency- and GSE-backed mortgage pools 2428.3 2501.8 2431.4 2459.6 2474.7 2501.8 2534.7 2583.8 2637.4 4

 5 FL893061705 Total assets 10417.7 10793.5 10378.2 10607.1 10706.1 10793.5 10523.1 10460.7 10282.6 5

 6 LM153061705 Household sector 237.9 255.2 166.6 272.1 209.3 255.2 351.9 555.8 808.9 6

 7 LM103061703 Nonfinancial corporate business 24.3 28.6 20.7 19.2 26.0 28.6 29.1 31.0 30.2 7

 8 FL313061703 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 LM213061703 State and local governments 466.5 415.3 434.8 437.7 426.9 415.3 406.3 408.9 411.6 9

 10 LM713061705 Monetary authority 2167.7 2681.1 2275.1 2414.3 2581.0 2681.1 2618.9 2479.6 2320.8 10

 11 LM763061705 U.S.-chartered depository institutions 3061.0 3505.5 3233.7 3357.3 3453.9 3505.5 3374.6 3169.0 2920.3 11

 12 LM753061703 Foreign banking offices in U.S. 60.7 53.5 62.2 58.6 59.3 53.5 49.3 52.6 52.1 12

 13 LM743061703 Banks in U.S.-affiliated areas 15.0 16.5 16.6 17.1 17.2 16.5 16.9 16.9 16.6 13

 14 LM473061705 Credit unions 239.0 307.5 293.9 295.1 301.5 307.5 305.7 311.8 284.3 14

 15 LM513061705 Property-casualty insurance companies 145.3 136.0 140.6 138.8 139.4 136.0 132.0 130.0 125.9 15

 16 LM543061705 Life insurance companies 366.4 312.3 342.5 334.4 325.8 312.3 293.5 281.1 273.1 16

 17 LM573061705 Private pension funds 236.2 222.4 227.6 228.9 226.3 222.4 214.9 212.5 209.2 17

 18 LM343061705 Federal government retirement funds 11.7 11.7 11.3 11.3 10.8 11.7 11.0 10.2 9.7 18

 19 LM223061743 State and local govt. retirement funds 189.8 191.3 190.9 190.8 201.1 191.3 192.3 186.1 182.3 19

 20 FL633061700 Money market funds 688.1 409.9 616.8 535.9 474.0 409.9 403.4 423.5 492.2 20

 21 LM653061703 Mutual funds 674.3 541.0 634.0 579.3 584.6 541.0 550.5 551.6 528.0 21

 22 LM403061705 Government-sponsored enterprises 237.3 208.4 224.4 218.9 215.3 208.4 201.5 201.6 206.2 22

 23 FL673061703 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 LM643061773 REITs 208.5 168.4 197.5 187.6 166.7 168.4 157.5 142.9 148.1 24

 25 LM663061705 Brokers and dealers 77.8 53.8 4.8 12.4 17.6 53.8 21.0 58.1 68.2 25

 26 LM733061703 Holding companies 33.8 24.7 30.7 29.1 27.2 24.7 22.4 21.2 19.6 26

 27 LM263061705 Rest of the world 1276.4 1250.3 1253.5 1268.0 1242.2 1250.3 1170.2 1216.5 1175.4 27

 28 LM903061703 Discrepancy (2) -331.1 -94.3 -151.9 -199.7 -170.2 -94.3 403.7 734.7 1159.8 28

(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 Ginnie Mae, 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.

(2) The accumulated valuation difference between issuance and holdings.
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L.212 Municipal Securities

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL383162005 Total liabilities 3988.8 4066.7 4015.5 4038.7 4057.0 4066.7 4045.2 4049.5 4032.8 1

 2 FL213162005 State and local governments 3182.7 3251.6 3207.4 3225.8 3243.1 3251.6 3224.3 3227.6 3216.9 2

 3 FL213162400 Short-term (1) 46.6 32.9 43.2 36.9 30.8 32.9 27.1 23.3 25.1 3

 4 FL213162200 Long-term 3136.1 3218.7 3164.2 3189.0 3212.2 3218.7 3197.2 3204.2 3191.8 4

 5 FL163162003 Nonprofit organizations (2) 201.7 200.1 202.2 202.1 201.0 200.1 202.1 199.8 199.1 5

 6 FL103162000 Nonfinancial corporate business 604.5 615.0 605.9 610.7 612.9 615.0 618.8 622.2 616.7 6

 (industrial revenue bonds)

 7 FL893062005 Total assets 4393.9 4429.2 4378.0 4442.5 4411.1 4429.2 4131.2 3980.2 3807.9 7

 8 LM153062005 Household sector 1929.6 1806.0 1889.4 1884.7 1832.3 1806.0 1651.4 1611.9 1544.8 8

 9 LM103062003 Nonfinancial corporate business 16.3 16.4 16.2 16.5 16.3 16.4 15.3 14.7 14.1 9

 10 LM113062003 Nonfinancial noncorporate business 4.2 4.6 4.4 4.4 4.6 4.6 4.5 4.5 4.6 10

 11 LM213062003 State and local governments 18.6 22.2 19.5 20.2 21.1 22.2 22.1 22.7 23.3 11

 12 LM763062000 U.S.-chartered depository institutions 583.7 630.4 591.3 607.5 616.1 630.4 608.7 598.9 579.1 12

 13 LM753062003 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 LM743062003 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 14

 15 LM473062005 Credit unions 10.1 12.3 10.9 11.5 12.0 12.3 11.9 11.6 11.8 15

 16 LM513062005 Property-casualty insurance companies 297.9 289.4 293.1 294.6 289.5 289.4 270.9 260.0 246.2 16

 17 LM543062005 Life insurance companies 234.2 234.9 232.0 234.9 233.3 234.9 219.4 210.8 202.2 17

 18 LM343062033 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 LM223062043 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL633062000 Money market funds 125.4 110.9 117.0 112.5 106.3 110.9 113.4 117.3 113.2 20

 21 LM653062003 Mutual funds 891.3 990.8 913.3 956.1 974.9 990.8 911.0 823.1 774.5 21

 22 LM553062003 Closed-end funds 94.9 98.3 95.0 96.7 96.7 98.3 90.0 85.8 80.5 22

 23 LM563062003 Exchange-traded funds 63.0 83.3 67.8 74.5 78.5 83.3 83.0 89.9 87.1 23

 24 LM403062005 Government-sponsored enterprises 2.8 2.4 2.7 2.6 2.5 2.4 2.4 2.1 2.1 24

 25 LM663062003 Brokers and dealers 6.8 12.7 8.8 10.7 12.1 12.7 11.0 10.1 14.8 25

 26 FL503062003 Other financial business 6.3 4.1 6.1 4.8 4.4 4.1 2.9 2.9 2.9 26

 27 FL263062003 Rest of the world 108.6 110.4 110.5 110.2 110.3 110.4 113.2 113.8 106.7 27

 28 LM903062003 Discrepancy (3) -405.1 -362.5 -362.5 -403.8 -354.0 -362.5 -86.0 69.3 224.9 28

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

(2) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

(3) The accumulated valuation difference between issuance and holdings.
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L.213 Corporate and Foreign Bonds

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893163005 Total liabilities 14406.1 15106.0 14492.6 14760.9 14997.5 15106.0 15075.6 14836.9 14688.2 1

 2 FL103163003 Nonfinancial corporate business 6540.6 6739.4 6662.3 6699.4 6777.6 6739.4 6780.3 6732.4 6735.5 2

 3 FL793163005 Domestic financial sectors 4329.3 4555.8 4310.6 4453.4 4461.5 4555.8 4609.2 4632.1 4600.5 3

 4 FL763163005 U.S.-chartered depository institutions 256.5 207.1 246.4 221.1 204.1 207.1 224.0 244.4 245.9 4

 5 FL673163005 ABS issuers (net) (1) 1058.9 1231.9 1089.0 1137.1 1192.8 1231.9 1226.4 1231.0 1246.7 5

 6 FL613163005 Finance companies 773.4 727.9 753.5 758.1 722.7 727.9 731.1 746.6 771.5 6

 7 FL643163005 REITs 581.9 634.5 588.7 614.4 616.0 634.5 643.2 653.0 651.3 7

 8 FL663163003 Brokers and dealers 183.9 217.7 196.3 204.5 214.6 217.7 260.8 249.2 223.6 8

 9 FL733163005 Holding companies 1474.8 1536.8 1436.7 1518.3 1511.2 1536.8 1523.6 1507.8 1461.6 9

 10 FL503163003 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 LM263163005 Rest of the world (2) 3536.2 3810.7 3519.7 3608.1 3758.4 3810.7 3686.0 3472.5 3352.2 11

 12 FL893063005 Total assets (3) 15254.2 15427.9 14814.0 15327.8 15451.6 15427.9 14606.9 13484.9 12907.9 12

 13 LM153063005 Household sector 400.8 231.3 225.8 229.0 311.1 231.3 227.9 225.1 223.3 13

 14 FL313063763 Federal government 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 14

 15 LM213063003 State and local governments 223.9 192.4 194.0 192.8 193.7 192.4 169.7 155.0 143.7 15

 16 LM763063005 U.S.-chartered depository institutions 511.0 710.5 631.6 664.4 687.7 710.5 787.5 759.8 752.2 16

 17 LM763063605 MBS and other ABS 88.7 118.8 92.6 97.8 107.2 118.8 126.5 127.2 124.3 17

 18 LM763063095 Other 422.2 591.7 539.0 566.6 580.5 591.7 661.0 632.6 627.9 18

 19 LM753063005 Foreign banking offices in U.S. 153.0 145.6 146.3 147.0 144.6 145.6 142.1 146.9 159.8 19

 20 LM743063005 Banks in U.S.-affiliated areas 12.5 11.3 11.8 9.7 11.7 11.3 11.3 11.2 11.1 20

 21 LM473063005 Credit unions 16.2 20.6 18.5 17.8 18.7 20.6 22.6 22.6 22.2 21

 22 LM473063605 MBS and other ABS 15.7 19.7 17.9 17.1 17.9 19.7 21.7 21.7 21.4 22

 23 LM473063095 Other 0.6 0.8 0.7 0.7 0.8 0.8 0.9 0.8 0.8 23

 24 LM513063005 Property-casualty insurance companies 660.7 702.4 643.2 680.5 690.6 702.4 664.3 619.1 593.5 24

 25 LM513063605 MBS and other ABS 154.2 152.4 147.2 152.9 152.4 152.4 144.1 133.1 127.6 25

 26 LM513063095 Other 506.5 550.1 496.0 527.6 538.2 550.1 520.2 486.0 465.9 26

 27 LM543063005 Life insurance companies 3555.8 3632.5 3413.3 3529.8 3576.9 3632.5 3405.5 3183.2 3047.7 27

 28 LM543063675 MBS and other ABS 625.3 616.0 595.1 611.9 613.6 616.0 573.9 530.0 504.2 28

 29 LM543063095 Other 2930.5 3016.5 2818.1 2917.9 2963.2 3016.5 2831.6 2653.2 2543.5 29

 30 LM573063005 Private pension funds 979.9 949.6 928.3 957.4 951.7 949.6 874.5 815.1 774.4 30

 31 LM343063005 Federal government retirement funds 17.3 15.0 16.6 16.9 15.8 15.0 13.7 12.0 11.1 31

 32 LM223063045 State and local govt. retirement funds 529.3 572.2 532.2 566.3 547.3 572.2 549.4 481.6 456.8 32

 33 FL633063005 Money market funds 13.5 7.2 13.3 12.6 9.8 7.2 5.6 3.8 6.3 33

 34 LM653063005 Mutual funds 2608.0 2734.1 2619.6 2689.7 2713.0 2734.1 2531.6 2251.0 2101.8 34

 35 LM553063003 Closed-end funds 77.8 85.3 80.3 83.3 85.9 85.3 80.5 69.7 67.3 35

 36 LM563063003 Exchange-traded funds 708.3 799.9 715.9 766.4 789.5 799.9 760.7 720.3 708.7 36

 37 LM403063005 Government-sponsored enterprises 13.5 12.3 13.0 12.7 12.5 12.3 12.1 12.2 12.4 37

 38 LM403063605 MBS and other ABS 10.2 9.3 9.8 9.5 9.4 9.3 9.2 9.5 9.8 38

 39 LM403063095 Other 3.3 3.0 3.3 3.2 3.1 3.0 2.9 2.7 2.6 39

 40 LM613063003 Finance companies 73.6 98.7 69.7 77.6 83.8 98.7 90.6 83.9 83.3 40

 41 LM643063005 REITs 28.4 31.7 25.7 28.5 30.6 31.7 35.1 28.6 35.3 41

 42 LM663063005 Brokers and dealers 81.2 14.8 68.8 68.4 67.2 14.8 1.2 2.0 12.8 42

 43 LM733063003 Holding companies 27.0 29.2 30.5 28.5 28.1 29.2 26.7 24.7 26.2 43

 44 FL503063005 Other financial business 70.8 70.9 69.0 80.1 75.2 70.9 79.2 78.6 85.4 44

 45 LM263063005 Rest of the world (4) 4491.3 4359.9 4346.0 4468.0 4405.9 4359.9 4114.7 3777.9 3572.1 45

 46 LM263063603 MBS and other ABS 362.9 364.6 375.4 367.4 362.9 364.6 363.7 366.1 366.3 46

 47 LM263063095 Other 4128.5 3995.3 3970.6 4100.6 4043.0 3995.3 3751.0 3411.8 3205.8 47

 48 LM903063003 Discrepancy (5) -848.1 -321.9 -321.4 -566.9 -454.2 -321.9 468.7 1352.1 1780.3 48

(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.

(5) The accumulated valuation difference between issuance and holdings.
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L.214 Loans (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 By instrument

 1 FL894123005 Total loans 29934.3 32151.5 30335.9 30780.6 31449.2 32151.5 32906.2 33740.2 34374.1 1

 2 FL793068005 Depository institution loans n.e.c. 4216.8 4345.0 4241.4 4192.3 4141.6 4345.0 4492.5 4699.9 4800.4 2

 3 FL893169005 Other loans and advances 4745.5 5315.5 4951.0 5037.7 5334.0 5315.5 5630.0 5720.2 5830.8 3

 4 FL893065005 Mortgages 16787.1 18060.2 16976.3 17291.4 17636.1 18060.2 18321.0 18736.5 19058.5 4

 5 FL893065105 One-to-four-family residential 11648.9 12540.0 11780.2 12019.2 12272.9 12540.0 12694.7 12970.8 13194.5 5

 6 FL893065405 Multifamily residential 1754.6 1885.3 1782.8 1808.4 1836.5 1885.3 1925.2 1967.2 2007.3 6

 7 FL893065505 Commercial 3095.0 3310.5 3115.9 3157.5 3211.4 3310.5 3371.0 3462.5 3514.8 7

 8 FL893065603 Farm 288.6 324.3 297.4 306.3 315.3 324.3 330.1 336.0 341.9 8

 9 FL153166000 Consumer credit 4184.9 4430.8 4167.2 4259.1 4337.4 4430.8 4462.6 4583.6 4684.5 9

 By sector

 10 FL894123005 Total liabilities 29934.3 32151.5 30335.9 30780.6 31449.2 32151.5 32906.2 33740.2 34374.1 10

 11 FL384123005 Domestic nonfinancial sectors 27057.4 28942.3 27396.3 27763.7 28377.0 28942.3 29544.3 30257.9 30779.1 11

 12 FL154123005 Household sector 16506.3 17737.1 16699.7 17039.1 17347.9 17737.1 17926.4 18288.3 18607.4 12

 13 FL104123005 Nonfinancial corporate business 4121.1 4513.2 4201.7 4187.4 4283.1 4513.2 4803.7 5028.5 5139.6 13

 14 FL114123005 Nonfinancial noncorporate business 6407.9 6669.5 6472.6 6515.0 6543.2 6669.5 6791.5 6918.2 7009.3 14

 15 FL314123005 Federal government 0.0 0.0 0.0 0.0 180.6 0.0 0.0 0.0 0.0 15

 16 FL213169203 State and local governments 22.1 22.6 22.3 22.3 22.2 22.6 22.7 22.8 22.8 16

 17 FL794123005 Domestic financial sectors 2122.0 2304.0 2166.8 2216.4 2232.8 2304.0 2449.1 2524.4 2590.7 17

 18 FL763169305 U.S.-chartered depository institutions 252.3 187.9 228.6 205.9 189.6 187.9 202.1 325.1 445.6 18

 19 FL473169333 Credit unions 43.3 40.7 40.3 39.2 39.4 40.7 42.3 59.9 77.6 19

 20 FL513169333 Property-casualty insurance companies 10.0 7.0 9.3 8.4 7.5 7.0 6.3 5.8 5.1 20

 21 FL543169373 Life insurance companies 103.9 110.8 112.3 108.8 107.3 110.8 121.9 129.2 132.2 21

 22 FL403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL614123005 Finance companies 178.4 191.1 175.4 216.2 209.1 191.1 160.7 153.3 151.7 23

 24 FL644123005 REITs 256.4 285.8 250.9 247.0 233.0 285.8 293.5 300.4 302.2 24

 25 FL664123005 Brokers and dealers 1037.0 1182.1 1064.1 1097.2 1160.6 1182.1 1311.7 1264.6 1202.7 25

 26 FL504123005 Other financial business 240.8 298.7 285.9 293.7 286.2 298.7 310.5 286.1 273.6 26

 27 FL264123005 Rest of the world 754.8 905.2 772.7 800.5 839.4 905.2 912.7 958.0 1004.3 27

 28 FL894123005 Total assets 29934.3 32151.5 30335.9 30780.6 31449.2 32151.5 32906.2 33740.2 34374.1 28

 29 FL384023005 Domestic nonfinancial sectors 3579.0 3869.8 3633.7 3668.1 3800.2 3869.8 4070.4 4056.7 4067.7 29

 30 FL154023005 Household sector 1254.3 1350.7 1267.8 1283.9 1334.8 1350.7 1481.5 1425.6 1368.7 30

 31 FL104023005 Nonfinancial corporate business 80.3 87.0 80.7 82.4 84.4 87.0 87.6 89.6 91.8 31

 32 FL114023005 Nonfinancial noncorporate business 55.0 58.7 56.5 56.7 58.0 58.7 59.9 61.0 61.8 32

 33 FL314023005 Federal government 1928.0 2104.4 1965.4 1979.9 2055.9 2104.4 2170.5 2207.7 2270.8 33

 34 FL213065005 State and local governments 261.4 269.0 263.3 265.2 267.1 269.0 270.9 272.8 274.7 34

 35 FL794023005 Domestic financial sectors 25451.3 27255.6 25767.5 26159.9 26666.5 27255.6 27786.2 28608.9 29236.1 35

 36 FL713068005 Monetary authority 52.2 42.2 58.7 86.2 65.1 42.2 34.1 28.4 26.1 36

 37 FL764023005 U.S.-chartered depository institutions 10091.7 10438.1 10033.7 10056.0 10117.1 10438.1 10535.5 10957.8 11205.5 37

 38 FL754023005 Foreign banking offices in U.S. 785.4 869.9 768.6 767.0 796.5 869.9 897.2 940.1 967.7 38

 39 FL744023003 Banks in U.S.-affiliated areas 41.6 37.2 40.4 39.5 38.1 37.2 36.0 36.4 37.3 39

 40 FL474023000 Credit unions 1193.9 1286.2 1198.0 1223.1 1251.8 1286.2 1328.3 1411.4 1497.0 40

 41 FL513065505 Property-casualty insurance companies 24.3 27.7 24.3 25.5 26.4 27.7 29.5 30.2 30.6 41

 42 FL544023005 Life insurance companies 808.2 858.3 811.0 822.7 839.9 858.3 874.2 888.9 899.8 42

 43 FL573065005 Private pension funds 24.4 24.8 24.5 24.6 24.7 24.8 24.8 24.9 25.0 43

 44 FL313169003 Federal government retirement funds 0.0 0.0 0.0 0.0 180.6 0.0 0.0 0.0 0.0 44

 45 FL223065043 State and local govt. retirement funds 6.9 8.1 7.4 7.3 7.2 8.1 6.7 7.2 7.2 45

 46 FL653069803 Mutual funds 88.7 144.2 104.6 121.6 131.3 144.2 164.8 154.2 138.8 46

 47 FL404023005 Government-sponsored enterprises 6706.0 7435.2 6899.9 7075.7 7233.1 7435.2 7661.2 7898.3 8107.6 47

 48 FL413065005 Agency- and GSE-backed mortgage pools 2428.3 2501.8 2431.4 2459.6 2474.7 2501.8 2534.7 2583.8 2637.4 48

 49 FL674023005 ABS issuers 1043.3 1154.5 1039.9 1050.3 1091.1 1154.5 1176.8 1200.2 1215.1 49

 50 FL614023005 Finance companies 1031.7 1026.1 1042.8 1061.1 1051.2 1026.1 1020.7 1030.6 1038.1 50

 51 FL643065005 REITs 265.7 346.7 272.7 288.3 309.3 346.7 356.9 380.5 375.7 51

 52 FL663069005 Brokers and dealers 664.3 840.0 779.5 821.4 818.7 840.0 855.5 821.2 806.9 52

 53 FL733069005 Holding companies 106.6 130.2 121.2 129.6 125.1 130.2 150.5 145.5 150.5 53

 54 FL503069005 Other financial business 88.2 84.5 108.9 100.4 84.8 84.5 98.8 69.2 69.9 54

 55 FL263069500 Rest of the world 904.0 1026.1 934.7 952.6 982.5 1026.1 1049.5 1074.6 1070.2 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
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124 Z.1, December 9, 2022

L.215 Depository Institution Loans Not Elsewhere Classified (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL793068005 Total liabilities 4216.8 4345.0 4241.4 4192.3 4141.6 4345.0 4492.5 4699.9 4800.4 1

 2 FL153168005 Household sector 370.7 423.8 370.3 371.7 384.9 423.8 437.1 458.2 468.7 2

 3 FL103168005 Nonfinancial corporate business 1182.8 1144.4 1191.0 1102.1 1062.1 1144.4 1288.9 1404.5 1459.2 3

 4 FL113168005 Nonfinancial noncorporate business 1583.5 1498.1 1579.6 1536.6 1478.0 1498.1 1514.9 1540.4 1550.6 4

 5 FL793168005 Domestic financial sectors 380.8 426.1 384.0 438.2 424.8 426.1 395.4 399.0 386.5 5

 6 FL613168005 Finance companies 177.9 191.0 175.3 216.1 209.0 191.0 160.6 153.2 151.6 6

 7 FL643168005 REITs 30.0 38.1 30.4 29.0 24.2 38.1 41.3 44.1 38.9 7

 8 FL663168005 Brokers and dealers 132.3 176.0 139.4 156.2 169.9 176.0 174.8 184.0 179.3 8

 9 FL713068505 Other financial business (2) 40.7 21.0 38.9 36.9 21.8 21.0 18.8 17.7 16.6 9

 10 FL263168005 Rest of the world 698.9 852.6 716.4 743.9 791.8 852.6 856.1 897.8 935.4 10

 11 FL263168465 Foreign official institutions 2.5 3.5 3.4 3.0 3.0 3.5 3.4 2.9 3.1 11

 12 FL263168485 Foreign nonfinancial corporations 186.5 199.3 189.0 186.8 192.7 199.3 205.5 208.5 210.6 12

 13 FL263168495 Foreign nondepository financial institutions 509.9 649.8 524.0 554.0 596.2 649.8 647.2 686.4 721.7 13

 14 FL793068005 Total assets 4216.8 4345.0 4241.4 4192.3 4141.6 4345.0 4492.5 4699.9 4800.4 14

 15 FL713068005 Monetary authority (3) 52.2 42.2 58.7 86.2 65.1 42.2 34.1 28.4 26.1 15

 16 FL763068005 U.S.-chartered depository institutions 3362.7 3421.7 3394.8 3320.9 3263.7 3421.7 3453.4 3609.9 3658.8 16

 17 FL753068005 Foreign banking offices in U.S. 704.5 778.8 688.2 685.7 712.8 778.8 802.4 841.1 865.1 17

 18 FL743068005 Banks in U.S.-affiliated areas 18.7 15.8 18.0 17.6 16.3 15.8 15.3 15.7 16.3 18

 19 FL473068005 Credit unions 78.7 86.6 81.7 82.0 83.9 86.6 187.3 204.7 234.2 19

(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 Federal Reserve funding, credit, and liquidity facility special purpose vehicles.

(3) Loans from Federal Reserve banks to the household, broker and dealer, finance companies, and other financial business sectors.
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L.216 Other Loans and Advances (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893169005 Total other loans and advances 4745.5 5315.5 4951.0 5037.7 5334.0 5315.5 5630.0 5720.2 5830.8 1

 2 FL163069005 Nonprofit organization loans 139.3 138.6 139.1 138.9 138.8 138.6 138.5 138.4 138.3 2

 3 FL153169055 Liab.: Household sector 108.4 106.9 108.0 107.7 107.3 106.9 106.7 106.4 106.1 3

 4 FL163069043 Nonfinancial noncorporate business 30.9 31.7 31.1 31.3 31.5 31.7 31.8 32.0 32.2 4

 5 FL313069205 U.S. government loans 419.7 534.7 426.9 436.4 487.9 534.7 580.4 612.3 643.2 5

 6 FL153169203 Liab.: Household sector 49.1 57.8 50.1 52.5 55.8 57.8 59.7 61.8 63.2 6

 7 FL103169205 Nonfinancial corporate business 188.9 255.8 192.3 197.1 228.0 255.8 284.3 303.1 322.4 7

 8 FL113169205 Nonfinancial noncorporate business 128.6 169.7 131.0 133.8 151.8 169.7 186.5 198.3 209.8 8

 9 FL213169203 State and local governments 22.1 22.6 22.3 22.3 22.2 22.6 22.7 22.8 22.8 9

 10 FL403169283 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 FL313069223 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL503169205 Other financial business 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 2.4 12

 13 FL263169203 Rest of the world 28.6 26.5 28.9 28.4 27.8 26.5 24.8 24.0 22.6 13

 14 FL153169405 Policy loans (Household liability) 130.8 129.0 130.0 129.3 129.3 129.0 126.6 126.9 127.3 14

 15 FL313069403 Asset: Federal government 0.1 0.2 0.1 0.2 0.2 0.2 0.2 0.2 0.2 15

 16 FL543069405 Life insurance companies 130.6 128.8 129.9 129.1 129.1 128.8 126.5 126.7 127.1 16

 17 FL313169003 Federal government retirement funds loans 0.0 0.0 0.0 0.0 180.6 0.0 0.0 0.0 0.0 17

 18 FL313169003 Liab.: Federal government 0.0 0.0 0.0 0.0 180.6 0.0 0.0 0.0 0.0 18

 19 FL403069330 Federal Home Loan Banks advances (2) 410.3 346.7 390.9 362.6 344.3 346.7 373.1 520.3 660.8 19

 20 FL763169335 Liab.: U.S.-chartered depository institutions 252.3 187.9 228.6 205.9 189.6 187.9 202.1 325.1 445.6 20

 21 FL473169333 Credit unions 43.3 40.7 40.3 39.2 39.4 40.7 42.3 59.9 77.6 21

 22 FL513169333 Property-casualty insurance companies 10.0 7.0 9.3 8.4 7.5 7.0 6.3 5.8 5.1 22

 23 FL543169373 Life insurance companies 103.9 110.8 112.3 108.8 107.3 110.8 121.9 129.2 132.2 23

 24 FL613169333 Finance companies 0.5 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 24

 25 FL643169373 Real estate investment trusts 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 25

 26 FL403069395 Government-sponsored enterprise (GSE) loans (3) 153.2 164.4 156.5 152.8 152.1 164.4 177.9 172.0 172.6 26

 27 FL153169305 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 FL183169305 Nonfinancial corporate business (FCS) 14.8 16.1 16.4 15.2 14.2 16.1 20.9 18.6 17.2 28

 29 FL113169305 Nonfinancial noncorporate business (FCS) 138.4 148.4 140.1 137.6 138.0 148.4 157.0 153.3 155.3 29

 30 FL763169383 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FL663067003 Margin accounts at brokers and dealers 482.4 574.7 573.7 595.2 571.5 574.7 582.9 542.7 540.0 31

 32 FL663067003 Liab.: Household sector 482.4 574.7 573.7 595.2 571.5 574.7 582.9 542.7 540.0 32

 33 FL153067005 Cash accounts at brokers and dealers 904.8 1006.1 924.7 941.0 990.7 1006.1 1136.9 1080.5 1023.4 33

 34 FL153067005 Asset: Household sector 904.8 1006.1 924.7 941.0 990.7 1006.1 1136.9 1080.5 1023.4 34

 35 FL503169023 Clearing funds at other financial business 197.7 275.3 244.6 254.5 262.1 275.3 289.4 266.1 254.6 35

 36 FL763069023 Asset: U.S.-chartered depository institutions 16.2 18.1 15.7 14.4 17.1 18.1 14.0 14.0 13.5 36

 37 FL663069025 Brokers and dealers 124.5 199.5 149.0 167.5 187.6 199.5 203.3 210.4 197.7 37

 38 FL503069025 Other financial business 57.0 57.7 80.0 72.7 57.4 57.7 72.1 41.7 43.4 38

 39 FL103169803 Loans to nonfinancial corporate business (4) 506.4 621.3 516.5 545.0 578.0 621.3 657.5 663.6 667.0 39

 40 FL153069803 Asset: Household sector 105.6 97.0 97.7 97.0 97.4 97.0 97.9 99.7 100.8 40

 41 FL543069873 Life insurance companies 32.9 38.6 34.3 36.0 37.8 38.6 39.6 39.2 41.9 41

 42 FL653069803 Mutual funds 88.7 144.2 104.6 121.6 131.3 144.2 164.8 154.2 138.8 42

 43 FL673069803 ABS issuers 210.7 265.8 212.8 221.9 242.0 265.8 275.0 289.6 303.4 43

 44 FL663069803 Brokers and dealers 57.4 65.8 56.8 58.6 59.6 65.8 69.3 68.1 69.2 44

 45 FL503069805 Other financial business 11.1 10.0 10.3 9.8 10.0 10.0 10.9 12.8 12.9 45

 46 FL673069505 Securitized loans held by ABS issuers 0.0 6.5 0.0 0.0 6.1 6.5 6.1 5.1 4.5 46

 47 FL673069505 Liab.: Nonfinancial corporate business 0.0 6.5 0.0 0.0 6.1 6.5 6.1 5.1 4.5 47

 48 FL613069505 Finance company loans to business 370.3 344.9 373.6 381.9 367.8 344.9 345.0 357.6 364.7 48

 49 FL103169535 Liab.: Nonfinancial corporate business 326.2 294.8 321.7 307.2 299.0 294.8 299.1 313.8 322.2 49

 50 FL113169535 Nonfinancial noncorporate business 44.0 50.1 51.9 74.7 68.8 50.1 45.9 43.8 42.5 50

 51 FL733069005 Holding company loans 106.6 130.2 121.2 129.6 125.1 130.2 150.5 145.5 150.5 51

 52 FL733069013 Liab.: Nonfinancial corporate business 79.4 104.1 93.7 101.3 105.2 104.1 118.8 109.4 104.3 52

 53 FL733069023 Rest of the world 27.2 26.2 27.5 28.3 19.8 26.2 31.8 36.1 46.3 53

 54 FL503069075 Other financial business loans (5) 20.1 16.8 18.6 17.9 17.4 16.8 15.8 14.7 13.7 54

 55 FL503069003 Liab.: Household sector (TALF II) 3.6 1.3 2.1 1.6 1.5 1.3 1.3 1.1 1.1 55

 56 FL503069013 Nonfinancial corporate business (MSLF) 6.0 5.5 5.9 5.9 5.7 5.5 5.2 4.9 4.5 56

 57 FL503069023 Nonfinancial noncorporate business (MSLF) 10.5 9.9 10.5 10.3 10.1 9.9 9.3 8.7 8.1 57

 58 FL503069033 Nonprofit organizations (MSLF) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

 59 FL263069500 Foreign loans to U.S. corporate business 904.0 1026.1 934.7 952.6 982.5 1026.1 1049.5 1074.6 1070.2 59

 60 FL263069500 Liab.: Nonfinancial corporate business 904.0 1026.1 934.7 952.6 982.5 1026.1 1049.5 1074.6 1070.2 60

(1) Customers’ liability on acceptances outstanding are inlcuded elsewhere beginning 2008q3 and are no longer shown on the table. These are assets of U.S.-chatered depository institutions

 and foreign banking offices in U.S., and liabilties of nonfinancial corporate business and rest of the world.

(2) 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.

(3) 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 19.

(4) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.

(5) 2020 Term Asset-Backed Securities Loan Facility (TALF II) loans to domestic hedge funds and private equity funds and Main Street Lending Facility (MSLF) loans.
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L.217 Total Mortgages (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893065005 Total mortgages 16787.1 18060.2 16976.3 17291.4 17636.1 18060.2 18321.0 18736.5 19058.5 1

 2 FL893065105 One-to-four-family residential 11648.9 12540.0 11780.2 12019.2 12272.9 12540.0 12694.7 12970.8 13194.5 2

 3 FL893065405 Multifamily residential 1754.6 1885.3 1782.8 1808.4 1836.5 1885.3 1925.2 1967.2 2007.3 3

 4 FL893065505 Commercial 3095.0 3310.5 3115.9 3157.5 3211.4 3310.5 3371.0 3462.5 3514.8 4

 5 FL893065603 Farm 288.6 324.3 297.4 306.3 315.3 324.3 330.1 336.0 341.9 5

 6 FL893065005 Total liabilities 16787.1 18060.2 16976.3 17291.4 17636.1 18060.2 18321.0 18736.5 19058.5 6

 7 FL153165005 Household sector 11176.5 12012.6 11298.1 11522.0 11760.3 12012.6 12149.6 12407.6 12616.6 7

 8 FL143165005 Nonfinancial business 5384.5 5800.2 5457.9 5551.8 5667.3 5800.2 5919.5 6072.8 6178.8 8

 9 FL103165005 Corporate 912.6 1038.6 929.4 961.1 1002.2 1038.6 1073.5 1131.1 1168.1 9

 10 FL113165005 Noncorporate 4471.9 4761.6 4528.5 4590.7 4665.1 4761.6 4846.0 4941.8 5010.7 10

 11 FL313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 FL123165005 REITs 226.1 247.4 220.2 217.7 208.6 247.4 252.0 256.1 263.1 12

 13 FL893065005 Total assets 16787.1 18060.2 16976.3 17291.4 17636.1 18060.2 18321.0 18736.5 19058.5 13

 14 FL153065005 Household sector 80.5 86.6 82.4 83.7 85.2 86.6 86.2 85.4 85.1 14

 15 FL103065003 Nonfinancial corporate business 44.4 51.1 46.0 47.7 49.4 51.1 52.9 54.8 56.8 15

 16 FL113065005 Nonfinancial noncorporate business 55.0 58.7 56.5 56.7 58.0 58.7 59.9 61.0 61.8 16

 17 FL313065005 Federal government 127.2 133.1 128.2 129.5 131.5 133.1 134.9 138.2 143.1 17

 18 FL313065015 Ginnie Mae 2.3 2.0 2.2 2.1 2.0 2.0 1.9 1.8 1.8 18

 19 FL313065075 Farmers Home Administration (FmHA) (2) 108.3 111.7 109.0 109.4 110.3 111.7 112.2 113.3 114.0 19

 20 FL313065035 Federal Housing Administration (FHA) 16.6 19.5 17.1 18.0 19.2 19.5 20.9 23.1 27.3 20

 21 FL313065065 Federal Deposit Insurance Corporation 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 FL313065095 Other (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL213065005 State and local governments 261.4 269.0 263.3 265.2 267.1 269.0 270.9 272.8 274.7 23

 24 FL703065005 Private depository institutions 5741.1 5952.5 5706.2 5751.8 5846.1 5952.5 5947.8 6162.4 6349.1 24

 25 FL763065005 U.S.-chartered depository institutions 5027.1 5172.5 4990.0 5019.9 5094.6 5172.5 5238.5 5420.3 5575.7 25

 26 FL753065005 Foreign banking offices in U.S. 81.0 91.1 80.4 81.4 83.8 91.1 94.9 99.0 102.6 26

 27 FL743065003 Banks in U.S.-affiliated areas 22.9 21.4 22.4 21.9 21.8 21.4 20.7 20.7 21.1 27

 28 FL473065100 Credit unions 610.1 667.5 613.4 628.7 645.9 667.5 593.8 622.4 649.7 28

 29 FL513065505 Property-casualty insurance companies 24.3 27.7 24.3 25.5 26.4 27.7 29.5 30.2 30.6 29

 30 FL543065005 Life insurance companies 644.7 690.9 646.8 657.6 673.0 690.9 708.1 722.9 730.7 30

 31 FL573065005 Private pension funds 24.4 24.8 24.5 24.6 24.7 24.8 24.8 24.9 25.0 31

 32 FL223065043 State and local govt. retirement funds 6.9 8.1 7.4 7.3 7.2 8.1 6.7 7.2 7.2 32

 33 FL403065005 Government-sponsored enterprises 6142.5 6924.1 6352.5 6560.3 6736.7 6924.1 7110.2 7206.0 7274.2 33

 34 FL403065015 Fannie Mae 3589.9 3899.0 3675.0 3782.6 3833.2 3899.0 3989.5 4039.7 4058.7 34

 35 FL403065025 Freddie Mac 2328.0 2789.8 2453.0 2550.9 2673.4 2789.8 2883.3 2925.5 2972.6 35

 36 FL403065045 Farm Credit System 154.6 171.4 157.8 162.5 166.0 171.4 173.4 176.0 178.1 36

 37 FL403065035 FHLB 62.8 55.5 59.4 56.5 56.1 55.5 55.5 55.8 56.1 37

 38 FL403065653 Farmer Mac 7.3 8.3 7.3 7.8 8.1 8.3 8.5 8.9 8.8 38

 39 FL413065005 Agency- and GSE-backed mortgage pools 2428.3 2501.8 2431.4 2459.6 2474.7 2501.8 2534.7 2583.8 2637.4 39

 40 FL413065015 Ginnie Mae 2103.4 2149.2 2095.0 2112.3 2125.6 2149.2 2182.3 2229.4 2284.5 40

 41 FL413065025 Freddie Mac 318.7 346.7 330.3 341.4 343.4 346.7 346.6 348.6 347.1 41

 42 FL413065045 Fannie Mae 5.3 4.7 5.2 5.0 4.8 4.7 4.7 4.7 4.6 42

 43 FL413065653 Farmer Mac 0.9 1.2 0.8 0.9 0.9 1.2 1.2 1.2 1.2 43

 44 FL413065035 Farmers Home Administration (FmHA) (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 FL673065005 ABS issuers 830.7 880.8 825.3 826.7 841.4 880.8 894.5 904.0 905.3 45

 46 FL613065000 Finance companies 110.0 104.3 108.6 107.0 105.4 104.3 102.9 102.2 101.9 46

 47 FL643065005 REITs 265.7 346.7 272.7 288.3 309.3 346.7 356.9 380.5 375.7 47

(1) Sum of one-to-four-family residential mortgages (table L.218), multifamily residential mortgages (table L.219), commercial mortgages (table L.220), and farm mortgages (table L.221).

(2) FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting changes by

 the Farmers Home Administration.

(3) Other includes Department of Veterans Affairs, Federal Financing Bank, Public Housing Administration, and Resolution Trust Corporation.
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L.218 One-to-four-family Residential Mortgages (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893065105 Total liabilities 11648.9 12540.0 11780.2 12019.2 12272.9 12540.0 12694.7 12970.8 13194.5 1

 2 FL153165105 Household sector 10916.1 11751.1 11037.5 11261.0 11499.1 11751.1 11887.7 12145.4 12354.0 2

 3 FL103165105 Nonfinancial corporate business 16.7 18.8 16.9 17.7 18.6 18.8 19.7 20.7 21.8 3

 4 FL113165105 Nonfinancial noncorporate business 716.0 770.1 725.8 740.5 755.2 770.1 787.3 804.7 818.8 4

 5 FL893065105 Total assets 11648.9 12540.0 11780.2 12019.2 12272.9 12540.0 12694.7 12970.8 13194.5 5

 6 FL153065103 Household sector 68.3 64.8 67.4 66.6 65.7 64.8 64.0 63.1 62.2 6

 7 FL103065105 Nonfinancial corporate business 26.7 30.7 27.6 28.6 29.6 30.7 31.8 32.9 34.1 7

 8 FL113065103 Nonfinancial noncorporate business 20.0 21.4 20.6 20.7 21.1 21.4 21.8 22.2 22.5 8

 9 FL313065105 Federal government 30.4 32.6 30.6 31.5 32.4 32.6 33.8 36.0 40.0 9

 10 FL213065103 State and local governments 133.8 137.4 134.7 135.6 136.5 137.4 138.2 139.1 140.0 10

 11 FL763065105 U.S.-chartered depository institutions 2581.5 2606.0 2533.4 2531.6 2571.2 2606.0 2620.4 2725.0 2803.0 11

 12 FL753065103 Foreign banking offices in U.S. 1.2 1.2 1.1 1.1 1.3 1.2 1.1 1.1 1.0 12

 13 FL743065103 Banks in U.S.-affiliated areas 13.5 12.0 13.1 12.7 12.3 12.0 11.4 11.2 11.1 13

 14 FL473065100 Credit unions 610.1 667.5 613.4 628.7 645.9 667.5 593.8 622.4 649.7 14

 15 FL543065105 Life insurance companies 38.6 49.4 40.5 43.1 46.1 49.4 51.3 52.7 53.2 15

 16 FL573065103 Private pension funds 0.5 0.4 0.5 0.5 0.4 0.4 0.3 0.3 0.3 16

 17 FL223065143 State and local govt. retirement funds 2.5 2.9 2.7 2.6 2.6 2.9 2.4 2.6 2.6 17

 18 FL403065105 Government-sponsored enterprises 5575.3 6312.7 5773.5 5978.9 6141.1 6312.7 6489.3 6577.1 6635.8 18

 19 FL413065105 Agency- and GSE-backed mortgage pools 2009.0 2044.4 1996.4 2012.1 2022.4 2044.4 2074.3 2120.2 2172.9 19

 20 FL673065105 ABS issuers 407.6 404.3 392.9 388.4 395.3 404.3 411.0 415.7 417.7 20

 21 FL613065105 Finance companies 77.1 73.6 76.1 75.1 74.3 73.6 72.9 72.4 72.0 21

 22 FL643065105 REITs 52.8 78.8 55.7 61.7 74.6 78.8 76.9 76.8 76.4 22

 Memo:

 23 FL893065125 Home equity loans included above (2) 441.8 398.4 421.5 411.3 403.6 398.4 389.6 405.3 419.3 23

 24 FL763065125 U.S.-chartered depository institutions 334.5 292.9 318.2 308.2 299.2 292.9 288.5 295.2 301.0 24

 25 FL753065203 Foreign banking offices in U.S. 0.1 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 25

 26 FL473065125 Credit unions 86.0 86.2 82.7 83.2 85.1 86.2 82.4 91.7 100.3 26

 27 FL673065123 ABS issuers 5.8 4.5 5.4 4.8 4.4 4.5 4.2 3.9 3.6 27

 28 FL613065123 Finance companies 15.4 14.7 15.2 15.0 14.9 14.7 14.6 14.5 14.4 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

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

 1 FL893065405 Total liabilities 1754.6 1885.3 1782.8 1808.4 1836.5 1885.3 1925.2 1967.2 2007.3 1

 2 FL103165405 Nonfinancial corporate business 86.5 93.2 87.9 89.2 90.6 93.2 95.2 97.3 99.4 2

 3 FL113165405 Nonfinancial noncorporate business 1644.3 1770.0 1671.0 1695.6 1722.2 1770.0 1808.3 1848.2 1887.9 3

 4 FL313165403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL123165403 REITs 23.7 22.1 23.9 23.5 23.6 22.1 21.7 21.7 20.1 5

 6 FL893065405 Total assets 1754.6 1885.3 1782.8 1808.4 1836.5 1885.3 1925.2 1967.2 2007.3 6

 7 FL153065403 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FL103065403 Nonfinancial corporate business 0.7 0.8 0.7 0.7 0.7 0.8 0.8 0.8 0.9 8

 9 FL113065403 Nonfinancial noncorporate business 18.8 20.1 19.3 19.4 19.8 20.1 20.5 20.9 21.1 9

 10 FL313065405 Federal government 11.1 10.9 11.1 11.1 11.0 10.9 10.8 10.7 10.6 10

 11 FL213065403 State and local governments 105.1 108.7 106.0 106.9 107.8 108.7 109.6 110.5 111.4 11

 12 FL763065403 U.S.-chartered depository institutions 526.7 560.8 528.2 538.4 544.6 560.8 578.4 608.6 637.0 12

 13 FL753065403 Foreign banking offices in U.S. 14.0 15.9 14.1 14.5 14.4 15.9 15.8 18.2 20.2 13

 14 FL543065405 Life insurance companies 169.8 179.1 169.7 171.8 175.2 179.1 183.4 187.3 189.3 14

 15 FL573065403 Private pension funds 0.6 0.3 0.5 0.5 0.4 0.3 0.3 0.2 0.1 15

 16 FL223065443 State and local govt. retirement funds 2.1 2.4 2.2 2.2 2.2 2.4 2.0 2.2 2.2 16

 17 FL403065405 Government-sponsored enterprises 419.4 445.0 426.8 424.4 433.8 445.0 451.5 456.2 462.9 17

 18 FL413065405 Agency- and GSE-backed mortgage pools 418.4 456.2 434.1 446.7 451.4 456.2 459.2 462.4 463.2 18

 19 FL673065405 ABS issuers 51.6 63.9 53.0 53.5 55.7 63.9 71.6 67.8 67.7 19

 20 FL613065403 Finance companies 5.5 5.3 5.4 5.4 5.3 5.3 5.2 5.1 5.1 20

 21 FL643065405 REITs 10.7 16.0 11.5 13.0 14.2 16.0 16.2 16.3 15.6 21
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L.220 Commercial Mortgages

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893065505 Total liabilities 3095.0 3310.5 3115.9 3157.5 3211.4 3310.5 3371.0 3462.5 3514.8 1

 2 FL163165505 Nonprofit organizations (1) 260.4 261.5 260.7 261.0 261.2 261.5 261.9 262.3 262.6 2

 3 FL103165505 Nonfinancial corporate business 733.6 840.6 746.0 773.1 809.3 840.6 871.2 924.2 956.7 3

 4 FL113165505 Nonfinancial noncorporate business 1898.7 1983.1 1912.8 1929.3 1956.0 1983.1 2007.7 2041.7 2052.3 4

 5 FL123165503 REITs 202.3 225.3 196.4 194.1 185.0 225.3 230.2 234.4 243.0 5

 6 FL893065505 Total assets 3095.0 3310.5 3115.9 3157.5 3211.4 3310.5 3371.0 3462.5 3514.8 6

 7 FL153065505 Household sector 1.2 1.3 1.2 1.3 1.3 1.3 1.3 1.4 1.4 7

 8 FL103065503 Nonfinancial corporate business 17.1 19.7 17.7 18.3 19.0 19.7 20.4 21.1 21.9 8

 9 FL113065503 Nonfinancial noncorporate business 15.0 16.1 15.4 15.5 15.8 16.1 16.4 16.7 16.9 9

 10 FL313065505 Federal government 75.4 78.2 76.0 76.0 76.8 78.2 78.7 79.6 80.2 10

 11 FL213065503 State and local governments 21.0 21.4 21.1 21.2 21.3 21.4 21.5 21.6 21.7 11

 12 FL763065503 U.S.-chartered depository institutions 1822.1 1904.9 1830.6 1851.1 1879.1 1904.9 1937.1 1982.3 2029.5 12

 13 FL753065503 Foreign banking offices in U.S. 65.5 73.8 65.1 65.8 67.9 73.8 77.8 79.5 81.3 13

 14 FL743065505 Banks in U.S.-affiliated areas 9.4 9.4 9.3 9.2 9.5 9.4 9.3 9.5 10.0 14

 15 FL513065505 Property-casualty insurance companies 24.3 27.7 24.3 25.5 26.4 27.7 29.5 30.2 30.6 15

 16 FL543065505 Life insurance companies 417.1 441.3 417.0 422.6 431.1 441.3 451.8 461.1 466.0 16

 17 FL573065505 Private pension funds 23.3 24.1 23.5 23.7 23.9 24.1 24.2 24.4 24.6 17

 18 FL223065545 State and local govt. retirement funds 2.4 2.7 2.5 2.5 2.5 2.7 2.3 2.5 2.5 18

 19 FL413065505 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 FL673065505 ABS issuers 371.6 412.7 379.4 384.8 390.4 412.7 411.9 420.5 419.9 20

 21 FL613065503 Finance companies 27.4 25.5 27.1 26.5 25.8 25.5 24.8 24.7 24.8 21

 22 FL643065505 REITs 202.2 251.8 205.5 213.6 220.5 251.8 263.8 287.5 283.7 22

(1) Liability of the households and nonprofit organizations sector (tables L.101 and B.101).

L.221 Farm Mortgages (1)

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

 1 FL893065603 Total liabilities 288.6 324.3 297.4 306.3 315.3 324.3 330.1 336.0 341.9 1

 2 FL183165605 Nonfinancial corporate business 75.7 86.0 78.6 81.0 83.6 86.0 87.4 88.9 90.2 2

 3 FL233165605 Nonfinancial noncorporate business 212.9 238.3 218.8 225.3 231.7 238.3 242.7 247.1 251.7 3

 4 FL893065603 Total assets 288.6 324.3 297.4 306.3 315.3 324.3 330.1 336.0 341.9 4

 5 FL153065605 Household sector 11.0 20.5 13.8 15.9 18.2 20.5 20.9 20.9 21.5 5

 6 FL113065603 Nonfinancial noncorporate business 1.1 1.2 1.1 1.1 1.2 1.2 1.2 1.2 1.2 6

 7 FL313065605 Federal government 10.3 11.5 10.5 10.9 11.2 11.5 11.7 11.9 12.3 7

 8 FL213065603 State and local governments 1.4 1.5 1.4 1.4 1.5 1.5 1.5 1.5 1.5 8

 9 FL763065633 U.S.-chartered depository institutions 96.8 100.8 97.8 98.8 99.8 100.8 102.6 104.4 106.3 9

 10 FL753065603 Foreign banking offices in U.S. 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.2 0.2 10

 11 FL543065633 Life insurance companies 19.2 21.1 19.7 20.1 20.6 21.1 21.5 21.9 22.2 11

 12 FL223065643 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 FL403065605 Government-sponsored enterprises 147.8 166.4 152.2 157.0 161.7 166.4 169.4 172.7 175.5 13

 14 FL413065605 Agency- and GSE-backed mortgage pools 0.9 1.2 0.8 0.9 0.9 1.2 1.2 1.2 1.2 14

(1) Excludes mortgages on farm houses.
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L.222 Consumer Credit

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL153166000 Total liabilities (Households) 4184.9 4430.8 4167.2 4259.1 4337.4 4430.8 4462.6 4583.6 4684.5 1

 2 FL153166000 Total assets 4184.9 4430.8 4167.2 4259.1 4337.4 4430.8 4462.6 4583.6 4684.5 2

 3 FL163066223 Nonprofit organizations (1) 24.1 22.4 23.8 23.2 22.7 22.4 22.0 21.6 21.1 3

 4 FL103066005 Nonfinancial corporate business 35.8 35.8 34.7 34.7 35.0 35.8 34.7 34.8 35.0 4

 5 FL113066003 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FL313066220 Federal government (2) 1381.0 1436.4 1410.1 1413.9 1436.4 1436.4 1455.0 1457.1 1484.3 6

 7 FL763066000 U.S.-chartered depository institutions 1685.6 1825.8 1633.2 1700.8 1741.8 1825.8 1829.6 1913.6 1957.5 7

 8 FL473066000 Credit unions 505.1 532.0 502.9 512.4 522.0 532.0 547.2 584.3 613.1 8

 9 FL403066005 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 FL673066000 ABS issuers 1.9 1.4 1.9 1.7 1.5 1.4 1.3 1.4 1.9 10

 11 FL613066005 Finance companies 551.4 577.0 560.5 572.3 578.0 577.0 572.8 570.8 571.5 11

 Memo:

 12 FL153166100 Credit card loans (3) 974.6 1041.7 911.1 950.9 971.2 1041.7 1024.2 1087.6 1122.6 12

 13 FL153166400 Auto loans 1224.4 1314.2 1240.7 1275.2 1300.4 1314.2 1332.2 1366.8 1397.7 13

 14 FL153166220 Student loans (4) 1693.9 1733.4 1718.7 1719.1 1739.4 1733.4 1747.5 1744.0 1767.9 14

 15 FL153166205 Other consumer credit (5) 292.0 341.5 296.6 313.9 326.4 341.5 358.7 385.3 396.4 15

(1) Student loans originated under the Federal Family Education Loan Program. Asset of the households and nonprofit organizations sector (tables L.101 and B.101).

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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L.223 Corporate Equities (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM893064105 Issues at market value 65523.2 80054.9 69928.3 75335.1 75368.4 80054.9 75778.2 63436.1 60337.3 1

 2 LM883164105 Domestic sectors 54908.2 68032.8 58830.1 63524.6 63579.0 68032.8 64358.0 53500.5 51156.9 2

 3 LM103164103 Nonfinancial corporate business 42498.0 51408.0 44980.3 48277.7 48151.5 51408.0 48188.9 39427.4 37736.5 3

 4 LM103164113 Publicly traded 35190.0 43527.7 37141.3 40271.8 40119.1 43527.7 40660.4 33128.8 31510.6 4

 5 LM103164123 Closely held 7308.0 7880.2 7839.0 8005.9 8032.5 7880.2 7528.5 6298.7 6225.9 5

 6 LM793164105 Financial corporations 12410.2 16624.9 13849.8 15246.9 15427.5 16624.9 16169.1 14073.1 13420.4 6

 7 LM793164115 Publicly traded (2) 11748.3 15737.4 13069.5 14424.2 14574.6 15737.4 15321.4 13364.1 12719.8 7

 8 LM793164123 Closely held 661.9 887.5 780.3 822.7 852.8 887.5 847.7 709.0 700.6 8

 9 LM263164100 Rest of the world (3) 10615.0 12022.1 11098.2 11810.5 11789.4 12022.1 11420.2 9935.5 9180.4 9

 10 LM893064105 Holdings at market value 65523.2 80054.9 69928.3 75335.1 75368.4 80054.9 75778.2 63436.1 60337.3 10

 11 LM153064105 Household sector 26122.9 31940.7 28161.1 30468.1 30740.8 31940.7 30545.3 25424.0 24328.6 11

 12 LM103064103 Nonfinancial corporate business 2543.2 3124.4 2675.0 2868.1 2849.3 3124.4 2944.1 2434.3 2280.1 12

 13 LM313064105 Federal government 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 33.2 13

 14 LM213064103 State and local governments 250.0 306.4 264.4 284.5 282.4 306.4 288.0 237.7 225.1 14

 15 FL713064103 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 LM763064103 U.S.-chartered depository institutions 43.7 54.1 47.9 51.8 49.9 54.1 53.1 44.2 40.9 16

 17 FL753064103 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 LM513064105 Property-casualty insurance companies 518.6 642.8 546.1 584.4 588.4 642.8 674.0 594.5 568.6 18

 19 LM543064105 Life insurance companies 730.6 763.4 740.0 770.9 759.2 763.4 714.7 612.1 565.3 19

 20 LM573064105 Private pension funds 3395.7 4093.9 3582.1 3835.1 3791.6 4093.9 3830.9 3148.7 2960.2 20

 21 LM343064105 Federal government retirement funds 418.6 524.0 449.2 487.6 483.8 524.0 485.6 410.1 385.1 21

 22 LM223064145 State and local govt. retirement funds 2843.5 3392.2 2959.9 3129.3 3106.2 3392.2 3276.3 2918.7 2716.9 22

 23 LM653064100 Mutual funds 13391.1 15533.8 13977.9 14919.4 14716.4 15533.8 14328.6 11894.4 11109.3 23

 24 LM553064103 Closed-end funds 105.9 123.4 115.0 121.4 122.0 123.4 115.7 100.2 93.3 24

 25 LM563064100 Exchange-traded funds 4229.7 5804.4 4693.0 5185.2 5235.2 5804.4 5635.0 4803.8 4557.2 25

 26 LM663064103 Brokers and dealers 214.3 233.9 265.9 259.1 232.0 233.9 236.9 177.6 192.2 26

 27 FL503064105 Other financial business 8.8 0.0 8.5 1.1 0.0 0.0 0.0 0.0 0.0 27

 28 LM263064105 Rest of the world (4) 10673.4 13484.4 11409.0 12336.0 12378.2 13484.4 12616.7 10602.7 10281.4 28

 Memo:

 29 LM883164115 Publicly traded equity at market value (5) 46938.2 59265.1 50210.8 54696.0 54693.7 59265.1 55981.9 46492.8 44230.4 29

 30 LM883164125 Closely held equity at market value (6) 7969.9 8767.7 8619.3 8828.6 8885.3 8767.7 8376.2 7007.7 6926.5 30

 31 LM883164133 S corporations 5848.2 6452.6 6303.1 6578.3 6557.5 6452.6 6064.0 5100.0 5067.1 31

 32 LM883164135 C corporations 2121.7 2315.1 2316.3 2250.3 2327.8 2315.1 2312.1 1907.7 1859.3 32

 33 PC073164013 Percent change in Dow Jones U.S. Total Market Index 18.72 24.01 6.08 7.94 -0.44 8.79 -5.73 -17.17 -4.95 33

(1) Includes shares of exchange-traded funds, closed-end funds, and real estate investment trusts. Excludes mutual fund shares shown on table L.224.

(2) Includes corporate equities issued by financial corporations under the federal financial stabilization programs.

(3) Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(4) Holdings of U.S. issues by foreign residents.

(5) Equal to the sum of lines 4 and 7.

(6) Equal to the sum of lines 5 and 8.

L.224 Mutual Fund Shares (1)

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

 1 LM653164205 Shares at market value 19562.6 22208.8 20271.3 21459.7 21374.9 22208.8 20698.1 17759.6 16617.5 1

 2 LM653164205 Holdings at market value 19562.6 22208.8 20271.3 21459.7 21374.9 22208.8 20698.1 17759.6 16617.5 2

 3 LM153064205 Household sector 10960.1 12755.8 11421.3 12032.2 12008.3 12755.8 11781.2 9962.2 9297.9 3

 4 LM103064203 Nonfinancial corporate business 376.7 446.6 394.2 422.1 425.0 446.6 424.1 375.4 360.3 4

 5 LM213064203 State and local governments 112.8 128.0 116.6 123.4 123.0 128.0 120.2 105.1 99.5 5

 6 LM763064203 U.S.-chartered depository institutions 11.5 14.9 12.3 15.0 11.6 14.9 13.1 11.0 12.2 6

 7 LM473064205 Credit unions 4.8 7.1 6.1 6.9 7.4 7.1 7.4 5.7 5.8 7

 8 LM513064205 Property-casualty insurance companies 29.7 36.2 31.7 33.3 33.1 36.2 34.2 27.2 26.4 8

 9 LM543064205 Life insurance companies 1701.3 1842.9 1731.5 1827.6 1785.9 1842.9 1694.8 1444.2 1353.9 9

 10 LM573064205 Private pension funds 4917.5 5500.8 5072.4 5345.5 5297.7 5500.8 5147.6 4453.5 4183.7 10

 11 LM223064205 State and local govt. retirement funds 423.9 314.4 416.8 430.0 437.7 314.4 309.7 262.1 215.3 11

 12 LM263064203 Rest of the world 1024.3 1162.0 1068.4 1223.8 1245.4 1162.0 1165.7 1113.3 1062.5 12

(1) Shares of open-end investment companies; excludes shares of money market funds and exchange-traded funds.
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L.225 Trade Credit

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893170005 Total trade payables 5684.6 6413.2 5821.1 5990.3 6157.6 6413.2 6603.7 6828.4 6857.5 1

 2 FL163170005 Nonprofit organizations (1) 376.7 383.7 378.5 380.2 381.9 383.7 385.4 387.1 388.9 2

 3 FL103170005 Nonfinancial corporate business 2764.6 3216.5 2817.2 2927.4 3031.5 3216.5 3351.6 3520.0 3509.7 3

 4 FL113170005 Nonfinancial noncorporate business 515.0 573.0 539.6 549.9 564.2 573.0 584.5 592.3 599.8 4

 5 FL313170005 Federal government 448.5 513.0 466.2 484.8 495.3 513.0 538.6 562.1 563.1 5

 6 FL213170003 State and local governments 1100.9 1155.2 1114.0 1127.4 1141.1 1155.2 1169.9 1185.4 1201.0 6

 7 FL513170005 Property-casualty insurance companies 90.5 109.5 95.3 100.0 104.8 109.5 110.5 113.4 117.3 7

 8 FL543170005 Life insurance companies 288.1 355.0 304.8 321.6 338.3 355.0 362.6 368.7 377.6 8

 9 FL663170003 Brokers and dealers 18.5 22.4 19.7 15.9 17.6 22.4 21.9 19.3 19.6 9

 10 LM263170005 Rest of the world 81.6 84.8 85.8 83.2 82.9 84.8 78.8 80.1 80.6 10

 11 FL893070005 Total trade receivables 6137.3 6903.8 6349.1 6539.6 6681.7 6903.8 7146.7 7394.0 7391.8 11

 12 FL163070005 Nonprofit organizations (1) 283.3 291.5 285.3 287.4 289.4 291.5 293.6 295.8 297.9 12

 13 FL103070005 Nonfinancial corporate business 3916.2 4468.3 4068.5 4213.1 4300.5 4468.3 4669.1 4862.5 4819.9 13

 14 FL113070003 Nonfinancial noncorporate business 810.3 856.9 824.1 834.3 844.4 856.9 867.7 885.0 896.1 14

 15 FL313070000 Federal government 84.9 95.5 91.9 93.4 96.0 95.5 98.0 95.6 96.6 15

 16 FL213070003 State and local governments 236.5 268.4 241.5 242.0 252.7 268.4 276.0 287.8 300.2 16

 17 FL513070005 Property-casualty insurance companies 210.7 233.4 220.5 229.2 239.4 233.4 244.4 253.8 254.9 17

 18 FL543070005 Life insurance companies 130.4 140.5 133.0 135.5 138.0 140.5 143.4 147.4 151.5 18

 19 FL673070003 ABS issuers 35.1 38.2 34.2 36.3 35.2 38.2 36.2 37.2 38.6 19

 20 LM263070005 Rest of the world 430.0 511.1 450.1 468.5 486.1 511.1 518.3 529.1 536.3 20

 21 FL903070005 Discrepancy -452.7 -490.6 -528.0 -549.3 -524.1 -490.6 -543.0 -565.7 -534.3 21

(1) Included in the households and nonprofit organizations sector (tables L.101 and B.101).

L.226 Life Insurance Reserves

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

 1 FL893140005 Total liabilities 2385.1 2501.2 2399.2 2447.6 2472.8 2501.2 2479.7 2453.7 2457.8 1

 2 FL313140003 Federal government 52.4 52.6 52.7 51.8 52.7 52.6 52.9 52.8 53.0 2

 3 FL543140005 Life insurance companies 2248.9 2344.0 2257.6 2301.6 2320.7 2344.0 2322.0 2294.9 2297.7 3

 4 FL263140005 Rest of the world 83.8 104.6 89.0 94.2 99.4 104.6 104.9 106.0 107.0 4

 5 FL893140005 Total assets 2385.1 2501.2 2399.2 2447.6 2472.8 2501.2 2479.7 2453.7 2457.8 5

 6 FL153040005 Household sector 1867.0 1944.9 1872.8 1910.3 1926.9 1944.9 1919.6 1887.5 1885.6 6

 7 FL763040005 U.S.-chartered depository institutions 184.8 198.1 186.9 191.6 193.9 198.1 200.3 202.2 204.4 7

 8 FL543040005 Life insurance companies 262.7 284.9 268.3 273.8 279.4 284.9 285.7 288.8 291.6 8

 9 FL733040005 Holding companies 69.0 73.0 70.0 71.0 72.0 73.0 74.0 75.0 76.0 9

 10 FL543141905 Rest of the world 1.6 0.2 1.2 0.9 0.5 0.2 0.2 0.2 0.2 10
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L.227 Pension Entitlements

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893150005 Total liabilities 30088.0 32058.2 30514.4 31294.5 31384.0 32058.2 31479.3 30152.0 29796.7 1

 2 FL543150005 Life insurance companies (1) 3793.8 4016.9 3807.3 3926.7 3936.5 4016.9 3865.4 3619.1 3546.5 2

 3 FL574190005 Private pension funds (2) 12137.7 13351.0 12416.8 12920.1 12905.0 13351.0 12865.1 11809.8 11481.8 3

 4 FL344090005 Federal government retirement funds (3) 4391.3 4563.9 4438.1 4498.0 4513.7 4563.9 4570.4 4516.2 4505.8 4

 5 FL224190005 State and local govt. retirement funds 9637.4 9956.1 9713.9 9800.7 9869.2 9956.1 10006.4 10032.6 10086.7 5

 6 FL263150005 Rest of the world 127.8 170.2 138.4 149.0 159.6 170.2 172.1 174.3 175.8 6

 7 FL893150005 Total assets 30088.0 32058.2 30514.4 31294.5 31384.0 32058.2 31479.3 30152.0 29796.7 7

 8 FL153050005 Households (4) 29794.3 31677.5 30199.0 30957.3 31025.1 31677.5 31094.5 29762.3 29403.6 8

 9 FL543050005 Life insurance companies 291.3 380.0 313.4 335.7 357.8 380.0 384.1 388.9 392.3 9

 10 FL543151905 Rest of the world 2.4 0.7 2.0 1.6 1.1 0.7 0.7 0.8 0.8 10

 Memo:

 11 LM893131573 Individual Retirement Accounts (IRAs): (5) 12333.0 13913.0 12695.0 13396.0 13336.0 13913.0 13168.0 11669.0 ND 11

 12 FL763131573 U.S.-chartered depository institutions 600.7 592.2 558.8 581.9 553.4 592.2 578.4 635.9 ND 12

 13 FL473131573 Credit unions 84.6 83.9 85.1 85.0 84.7 83.9 84.1 84.0 ND 13

 14 LM543131503 Life insurance companies 746.0 788.0 748.0 770.0 773.0 788.0 759.0 711.0 ND 14

 15 FL633131573 Money market funds 391.0 365.0 380.0 365.0 365.0 365.0 379.0 399.0 ND 15

 16 LM653131573 Mutual funds 4836.0 5605.0 5042.0 5372.0 5359.0 5605.0 5225.0 4488.0 ND 16

 17 LM153131575 Other self-directed accounts 5674.7 6478.9 5881.1 6222.1 6200.9 6478.9 6142.6 5351.1 ND 17

(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) Includes public and private defined benefit and defined contribution pension plans, and annuities at life insurance companies. Annuities include those held in individual retirement accounts (IRAs). Social security is excluded.

(5) Asset of the household and nonprofit organizations sector (tables L.101 and B.101). Figures for depositories (lines 12 and 13) include Keogh accounts. Variable annuities in IRAs are included

 in the life insurance sector (line 14) and excluded from the money market fund and mutual fund sectors (lines 15 and 16).

L.228 Taxes Payable by Businesses

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

 1 FL893178005 Total taxes payable by all businesses 600.5 571.8 594.4 561.7 570.2 571.8 568.3 492.5 462.9 1

 2 FL103178005 Nonfinancial corporate business 275.4 251.5 277.3 253.6 252.8 251.5 305.0 265.9 261.8 2

 3 FL113178003 Nonfinancial noncorporate business 175.5 180.5 180.2 178.2 179.7 180.5 181.4 163.0 154.2 3

 4 FL763178000 U.S.-chartered depository institutions 113.0 104.1 96.3 94.4 101.1 104.1 46.7 32.3 17.9 4

 5 FL513178005 Property-casualty insurance companies 10.5 10.3 12.2 9.6 8.8 10.3 11.3 8.7 8.2 5

 6 FL543178075 Life insurance companies 7.5 7.0 8.7 6.3 6.3 7.0 6.1 5.1 5.2 6

 7 FL613178005 Finance companies 9.2 8.8 9.6 9.0 9.9 8.8 8.6 8.1 6.4 7

 8 FL663178003 Brokers and dealers 6.3 6.8 7.1 7.7 8.8 6.8 6.4 6.9 6.7 8

 9 FL733178013 Holding companies 3.1 2.8 3.1 2.8 2.8 2.8 2.8 2.5 2.5 9

 10 FL893078005 Total business taxes receivable 631.6 674.8 672.8 576.2 708.7 674.8 728.3 599.5 540.0 10

 11 FL313078000 Federal government 435.1 473.1 471.0 376.7 507.8 473.1 525.6 415.2 364.5 11

 12 FL213078005 State and local governments 196.5 201.7 201.8 199.5 200.9 201.7 202.7 184.2 175.5 12

 13 FL903078005 Discrepancy -31.1 -103.1 -78.4 -14.4 -138.6 -103.1 -159.9 -106.9 -77.1 13

L.229 Proprietors’ Equity in Noncorporate Business

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

 1 LM152090205 Total household equity 12948.1 15531.1 13293.1 13959.0 14901.2 15531.1 15942.4 16553.6 16946.8 1

 2 LM112090205 Nonfinancial noncorporate business 12857.8 15425.0 13199.3 13861.0 14801.6 15425.0 15847.4 16459.7 16849.3 2

 3 LM662090003 Brokers and dealers 90.3 106.1 93.8 98.0 99.6 106.1 94.9 93.9 97.5 3
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L.230 Direct Investment

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 LM263192005 U.S. direct investment abroad (1, 2) 8225.9 9765.9 8714.6 9380.1 9310.8 9765.9 9163.3 7768.6 7071.9 1

 Equity:

 2 LM263192101 Liab.: Rest of the world (1) 8162.3 9749.7 8642.0 9296.0 9245.8 9749.7 9187.2 7782.1 7115.9 2

 3 LM103092105 Asset: Nonfinancial corporate business 6730.4 8044.9 7125.9 7680.1 7634.5 8044.9 7565.2 6422.7 5862.3 3

 4 LM763092100 U.S.-chartered depository institutions 322.8 377.7 335.5 363.9 361.4 377.7 355.0 294.3 274.3 4

 5 LM513092103 Property-casualty insurance companies 254.7 306.6 273.1 289.2 289.7 306.6 288.8 243.4 221.4 5

 6 LM543092173 Life insurance companies 91.7 82.9 91.4 91.1 85.3 82.9 78.8 64.0 57.8 6

 7 LM613092103 Finance companies 362.7 443.4 400.1 421.8 420.5 443.4 421.3 357.6 331.8 7

 8 LM663092103 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 LM733092103 Holding companies 400.0 494.1 416.0 450.0 454.3 494.1 478.2 400.1 368.2 9

 Intercompany debt:

 10 LM263192305 Liab.: Rest of the world (1, 2) 63.6 16.3 72.5 84.1 65.0 16.3 -24.0 -13.5 -44.0 10

 11 LM263192313 U.S. parents’ claims 746.5 759.6 759.8 804.1 823.9 759.6 766.6 774.0 753.8 11

 12 LM263092313 Less: U.S. parents’ liabilities 682.9 743.4 687.3 720.0 758.9 743.4 790.5 787.4 797.8 12

 13 LM103092305 Asset: Nonfinancial corporate business 52.5 13.4 59.8 69.5 53.7 13.4 -19.7 -11.1 -43.2 13

 14 LM763092305 U.S.-chartered depository institutions 2.5 0.6 2.8 3.3 2.5 0.6 -0.9 -0.5 -0.6 14

 15 LM513092305 Property-casualty insurance companies 2.0 0.5 2.3 2.6 2.0 0.5 -0.8 -0.4 -0.0 15

 16 LM543092375 Life insurance companies 0.7 0.1 0.8 0.8 0.6 0.1 -0.2 -0.1 0.0 16

 17 LM613092305 Finance companies 2.8 0.7 3.4 3.8 3.0 0.7 -1.1 -0.6 -0.0 17

 18 LM663092305 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 LM733092305 Holding companies 3.1 0.8 3.5 4.1 3.2 0.8 -1.2 -0.7 -0.1 19

 20 LM263092001 Foreign direct investment in U.S. (1) 10756.6 13608.4 11375.4 12265.8 12322.1 13608.4 12887.1 10812.8 10367.7 20

 Equity:

 21 LM103192105 Liab.: Nonfinancial corporate business 8670.3 11194.7 9215.4 10018.8 10080.8 11194.7 10619.5 8857.6 8468.8 21

 22 LM115114103 Nonfinancial noncorporate business 121.6 146.4 126.3 139.1 135.0 146.4 137.6 112.7 118.1 22

 23 LM753192103 Foreign banking offices in U.S. 422.7 467.2 433.9 438.8 434.1 467.2 436.1 362.4 343.3 23

 24 LM513192103 Property-casualty insurance companies 239.3 285.6 246.0 265.3 261.4 285.6 272.0 229.8 221.3 24

 25 LM543192173 Life insurance companies 265.3 313.5 274.8 301.1 292.0 313.5 291.3 243.1 232.8 25

 26 LM613192103 Finance companies 156.5 202.4 165.4 182.8 183.2 202.4 192.1 161.1 154.4 26

 27 LM663192103 Brokers and dealers 295.4 405.7 311.5 348.5 360.2 405.7 372.2 291.3 276.2 27

 28 LM733192103 Holding companies 80.9 87.0 89.6 90.3 92.9 87.0 84.9 84.0 83.2 28

 29 LM503192103 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 LM263092101 Asset: Rest of the world (1) 10251.9 13102.4 10862.8 11784.7 11839.7 13102.4 12405.6 10341.9 9898.1 30

 Intercompany debt:

 31 LM103192305 Liab.: Nonfinancial corporate business 325.1 329.8 332.4 305.0 316.7 329.8 313.7 315.4 324.6 31

 32 LM115114305 Nonfinancial noncorporate business 6.0 5.7 6.0 5.7 5.5 5.7 5.3 5.1 4.8 32

 33 LM753192305 Foreign banking offices in U.S. 20.8 18.0 20.5 17.9 17.7 18.0 16.9 16.5 16.0 33

 34 LM513192305 Property-casualty insurance companies 11.8 11.0 11.6 10.8 10.7 11.0 10.6 10.5 10.5 34

 35 LM543192375 Life insurance companies 13.1 12.1 13.0 12.3 11.9 12.1 11.3 11.1 10.6 35

 36 LM613192305 Finance companies 7.7 7.8 7.8 7.5 7.5 7.8 7.5 7.3 7.0 36

 37 LM663192305 Brokers and dealers 14.5 15.7 14.7 14.2 14.7 15.7 14.4 13.3 12.7 37

 38 LM733192305 Holding companies 105.7 105.8 106.7 107.7 97.8 105.8 101.7 91.7 83.2 38

 39 LM503192305 Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 LM263092303 Asset: Rest of the world (1) 504.6 505.9 512.6 481.1 482.4 505.9 481.4 470.9 469.7 40

 41 LM263092323 U.S. affiliates’ liabilities 962.6 967.3 965.9 959.5 955.8 967.3 952.4 952.5 957.5 41

 42 LM263192323 Less: U.S. affiliates’ claims 458.0 461.3 453.3 478.4 473.5 461.3 470.9 481.7 487.8 42

(1) Direct investment is presented on a directional basis and reported at market value.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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L.231 Total Miscellaneous Financial Claims

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893190005 Total liabilities 26177.0 26317.3 26465.1 26451.7 26625.6 26317.3 26799.8 27298.3 27802.2 1

 2 FL543077073 Household sector 36.6 38.1 38.7 37.9 37.9 38.1 39.8 39.0 39.1 2

 3 FL103190005 Nonfinancial corporate business 8235.1 8285.7 8151.6 8226.6 8234.9 8285.7 8255.2 8409.4 8401.2 3

 4 FL113193003 Nonfinancial noncorporate business 1956.0 2031.5 1966.0 1990.0 2014.0 2031.5 2050.5 2063.2 2067.9 4

 5 FL313190005 Federal government 2384.0 2006.2 2339.0 2290.8 2234.2 2006.2 1972.1 1948.6 1909.6 5

 6 FL223073045 State and local governments 4005.6 3506.6 3909.4 3675.4 3709.9 3506.6 3792.8 4289.8 4619.9 6

 7 FL713190005 Monetary authority 44.4 45.7 44.7 44.0 42.7 45.7 43.8 42.6 41.7 7

 8 FL763190005 U.S.-chartered depository institutions 2607.0 2799.3 2685.1 2773.3 2839.6 2799.3 2763.4 2678.7 2708.6 8

 9 FL753190005 Foreign banking offices in U.S. 187.3 221.8 233.3 216.6 224.4 221.8 252.4 242.2 279.5 9

 10 FL743193005 Banks in U.S.-affiliated areas 3.2 2.1 2.7 2.4 2.3 2.1 2.0 2.1 1.9 10

 11 FL473193005 Credit unions 23.3 28.3 22.6 25.2 27.4 28.3 29.5 33.1 41.6 11

 12 FL513190005 Property-casualty insurance companies 1679.1 1823.2 1728.7 1768.7 1832.2 1823.2 1871.5 1902.8 1962.4 12

 13 FL543190005 Life insurance companies 1909.1 2022.5 1918.3 1961.2 1974.5 2022.5 2030.6 2001.9 2022.6 13

 14 FL403190005 Government-sponsored enterprises 120.2 113.8 114.1 107.1 110.4 113.8 117.2 124.2 137.6 14

 15 FL613190005 Finance companies 296.8 278.0 303.1 286.6 303.7 278.0 268.8 267.5 226.0 15

 16 FL643193005 REITs 161.1 163.3 165.7 166.6 162.2 163.3 163.9 167.7 182.1 16

 17 FL663190005 Brokers and dealers 895.7 1068.4 1089.1 1111.1 1127.4 1068.4 1155.5 1069.4 1065.1 17

 18 FL733190005 Holding companies 441.7 476.5 441.0 436.8 472.7 476.5 526.9 563.3 631.4 18

 19 FL503190005 Other financial business 770.3 974.9 895.6 909.0 844.0 974.9 1012.1 1001.0 1007.1 19

 20 FL263190005 Rest of the world 420.5 431.6 416.6 422.5 431.3 431.6 451.8 451.9 457.1 20

 21 FL893090005 Total assets 28979.8 28464.6 28876.2 28358.7 28992.6 28464.6 30107.9 32582.9 34117.8 21

 22 FL153090005 Household sector 1366.8 1420.3 1375.9 1382.3 1405.1 1420.3 1427.3 1447.5 1476.5 22

 23 FL103090005 Nonfinancial corporate business 6311.3 5670.0 6066.2 5529.4 5738.4 5670.0 6386.5 7870.5 8780.0 23

 24 FL113090005 Nonfinancial noncorporate business 3835.7 3896.1 3873.4 3897.6 3894.9 3896.1 3917.8 3973.7 4037.2 24

 25 FL313090005 Federal government 337.7 253.7 278.8 269.3 257.1 253.7 255.6 254.8 257.5 25

 26 FL213093003 State and local governments 61.9 127.0 85.9 105.9 115.2 127.0 126.7 128.9 138.4 26

 27 FL713090005 Monetary authority 48.9 35.4 32.6 31.2 31.5 35.4 32.8 34.3 34.2 27

 28 FL763090005 U.S.-chartered depository institutions 735.2 735.4 720.9 717.6 758.1 735.4 861.9 996.1 1073.0 28

 29 FL753093005 Foreign banking offices in U.S. 77.6 104.7 83.2 93.4 86.3 104.7 109.2 109.7 123.9 29

 30 FL743093005 Banks in U.S.-affiliated areas 11.9 6.8 20.7 21.1 10.2 6.8 6.1 4.1 11.1 30

 31 FL473090005 Credit unions 124.8 130.8 116.2 130.5 136.0 130.8 133.2 111.3 102.2 31

 32 FL513090005 Property-casualty insurance companies 481.9 426.6 452.7 460.3 440.7 426.6 473.2 520.1 579.1 32

 33 FL543090005 Life insurance companies 769.8 864.4 788.4 820.0 833.7 864.4 876.0 909.6 935.2 33

 34 FL573090005 Private pension funds 1783.3 1722.2 1796.2 1718.1 1791.1 1722.2 1951.1 2338.5 2518.4 34

 35 FL343073045 Federal government retirement funds 1645.2 1554.8 1670.1 1676.6 1707.6 1554.8 1571.1 1569.1 1538.9 35

 36 FL223090005 State and local govt. retirement funds 5091.4 4781.1 5022.3 4823.9 4894.2 4781.1 5002.0 5525.6 5865.4 36

 37 FL633093005 Money market funds 7.1 -2.9 -37.5 -60.9 41.3 -2.9 22.8 23.4 16.9 37

 38 FL653093005 Mutual funds 286.6 346.2 299.6 346.8 348.3 346.2 334.5 350.0 326.7 38

 39 LM563093003 Exchange-traded funds 144.3 133.1 127.5 139.2 132.0 133.1 164.8 151.2 129.6 39

 40 FL403093005 Government-sponsored enterprises 189.7 159.2 199.3 174.6 173.5 159.2 145.5 121.0 113.7 40

 41 FL673090543 ABS issuers 114.9 155.4 126.0 141.5 152.2 155.4 169.9 172.0 171.3 41

 42 FL613090005 Finance companies 203.8 140.4 183.1 176.9 159.8 140.4 133.6 133.4 133.1 42

 43 FL643090005 REITs 199.6 228.8 216.0 218.8 217.1 228.8 240.1 240.9 240.8 43

 44 FL663090005 Brokers and dealers 1470.6 1713.7 1637.7 1726.4 1788.8 1713.7 1870.4 1762.7 1695.2 44

 45 FL733090005 Holding companies 3348.8 3509.5 3372.3 3467.3 3516.3 3509.5 3500.9 3469.0 3422.8 45

 46 FL503090005 Other financial business 93.7 110.9 136.4 122.4 128.1 110.9 134.8 108.0 120.3 46

 47 FL263090005 Rest of the world 237.2 241.0 232.4 228.5 235.0 241.0 260.1 257.6 276.4 47

 48 FL903090005 Discrepancy -2802.8 -2147.3 -2411.0 -1907.0 -2367.0 -2147.3 -3308.1 -5284.7 -6315.6 48
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L.232 Identified Miscellaneous Financial Claims - Part I

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Federal government equity in IBRD, etc.:

 1 FL313092803 Liab.: Rest of the world 69.3 70.5 70.5 70.5 70.5 70.5 70.5 70.5 70.5 1

 2 FL313092803 Asset: Federal government 69.3 70.5 70.5 70.5 70.5 70.5 70.5 70.5 70.5 2

 Federal Reserve Bank stock:

 3 FL713164003 Liab.: Monetary authority 32.4 33.9 32.5 32.8 33.1 33.9 34.3 34.9 35.1 3

 4 FL713164003 Asset: U.S.-chartered depository institutions 32.4 33.9 32.5 32.8 33.1 33.9 34.3 34.9 35.1 4

 Equity in government-sponsored enterprises:

 5 FL403192405 Liab.: Government-sponsored enterprises 41.8 40.9 41.2 40.9 40.0 40.9 42.3 48.5 54.3 5

 6 FL103092405 Asset: Nonfin. corporate business (Fannie Mae and FCS) 1.4 1.5 1.5 1.5 1.4 1.5 1.9 1.7 1.7 6

 7 FL113092405 Nonfinancial noncorporate (FCS) 13.0 14.3 13.0 13.6 13.8 14.3 14.3 14.4 15.3 7

 8 FL313092403 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FL763092405 U.S.-chartered depository institutions (FHLB) 14.9 11.1 13.6 12.5 11.3 11.1 11.6 17.7 22.9 9

 10 FL473092403 Credit unions (FHLB) 3.9 4.3 3.8 4.0 4.1 4.3 4.3 5.1 5.6 10

 11 FL513092403 Property-casualty insurance companies (FHLB) 0.7 0.6 0.7 0.7 0.6 0.6 0.5 0.4 0.3 11

 12 FL543092473 Life insurance companies (FHLB) 7.8 9.1 8.5 8.7 8.7 9.1 9.6 9.1 8.5 12

 13 FL613092403 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 FL643092473 Real estate investment trusts (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 Holding company equity investment in affiliates:

 15 FL763194603 Liab.: U.S.-chartered depository institutions 2120.1 2243.5 2141.1 2194.5 2220.3 2243.5 2178.2 2114.5 2059.9 15

 16 FL513194603 Property-casualty insurance companies 2.5 3.6 2.3 3.6 3.9 3.6 4.2 4.4 4.5 16

 17 FL543194603 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 FL663194605 Brokers and dealers 253.0 204.8 256.1 245.6 242.0 204.8 207.1 285.7 325.3 18

 19 FL733094635 Asset: Holding companies 2375.6 2451.9 2399.5 2443.6 2466.2 2451.9 2389.5 2404.6 2389.6 19

 Holding company other investment in affiliates:

 20 FL763194705 Liab.: U.S.-chartered depository institutions 118.9 142.9 123.8 131.9 142.0 142.9 128.0 134.0 131.4 20

 21 FL513194703 Property-casualty insurance companies 0.4 0.3 1.3 0.8 0.5 0.3 0.0 0.0 0.0 21

 22 FL543194703 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 FL613194733 Finance companies 8.2 10.0 7.6 6.9 9.9 10.0 10.1 9.8 9.2 23

 24 FL663194705 Brokers and dealers 661.7 715.9 648.6 687.5 698.8 715.9 759.4 713.6 684.7 24

 25 FL263194735 Rest of the world 143.0 148.9 148.7 151.8 156.3 148.9 170.3 165.3 164.0 25

 26 FL733094735 Asset: Holding companies 932.2 1018.1 930.1 979.0 1007.5 1018.1 1067.8 1022.7 989.2 26

 Holding company balances due to affiliates:

 27 FL733194735 Liab.: Holding companies 440.2 473.7 442.6 440.5 465.8 473.7 524.7 550.0 606.2 27

 28 FL763094703 Asset: U.S.-chartered depository institutions 11.2 6.9 12.6 10.5 6.7 6.9 6.4 6.4 9.0 28

 29 FL513094703 Property-casualty insurance companies 0.0 0.4 0.0 0.0 0.0 0.4 0.0 0.2 1.3 29

 30 FL543094703 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 FL663094705 Brokers and dealers 251.0 290.5 258.3 263.6 287.7 290.5 323.8 353.3 389.2 31

 32 FL263094733 Rest of the world 178.1 175.9 171.8 166.4 171.4 175.9 194.4 190.2 206.7 32

 NFC other investment in finance company affiliates:

 33 FL103094705 Liab.: Finance companies 109.5 94.6 109.4 99.6 93.8 94.6 92.4 94.4 91.2 33

 34 FL103094705 Asset: Nonfinancial corporate business 109.5 94.6 109.4 99.6 93.8 94.6 92.4 94.4 91.2 34

 Other financial business investment in affiliates:

 35 FL753194503 Liab.: Foreign banking offices in U.S. 92.0 108.5 134.2 116.8 125.8 108.5 132.2 105.6 116.6 35

 36 FL663194505 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 FL503094505 Asset: Other financial business 92.0 108.5 134.2 116.8 125.8 108.5 132.2 105.6 116.6 37

 Equity investment under Public-Private Inv. Program:

 38 LM503194305 Liab.: Other financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 LM153094305 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 LM313094303 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 Federal gov’t investment in Federal Reserve facilities:

 41 FL313094213 Liab.: Monetary authority 1.5 0.0 1.5 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 FL503194205 Other financial business 112.5 21.3 50.3 40.3 26.9 21.3 21.3 17.9 17.9 42

 43 FL313094205 Asset: Federal government 114.0 21.3 51.8 40.3 26.9 21.3 21.3 17.9 17.9 43

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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136 Z.1, December 9, 2022

L.233 Identified Miscellaneous Financial Claims - Part II

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 Nonofficial foreign currencies:

 1 FL263191103 Liab.: Rest of the world 20.5 6.0 5.1 3.2 3.0 6.0 3.0 3.0 2.9 1

 2 FL313091105 Asset: Federal government 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2

 3 FL713091103 Monetary authority (1) 17.9 3.3 2.5 0.6 0.3 3.3 0.4 0.3 0.3 3

 Postal Savings System deposits:

 4 FL313131003 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL313131003 Asset: Household sector 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 FL403197033 Liab.: Government-sponsored enterprises 15.3 14.3 17.6 15.6 15.6 14.3 14.1 13.3 12.0 6

 7 FL403197033 Asset: U.S.-chartered depository institutions 15.3 14.3 17.6 15.6 15.6 14.3 14.1 13.3 12.0 7

 Paycheck Protection Program subsidies payable:

 8 FL313172003 Liab.: Federal government 415.2 106.3 346.7 288.5 198.0 106.3 54.2 26.2 13.1 8

 9 FL163072003 Asset: Nonprofit organizations 34.1 10.2 29.1 21.7 15.1 10.2 6.8 4.9 3.9 9

 10 FL103072005 Nonfinancial corporate business 244.4 72.7 201.4 162.0 118.1 72.7 46.1 21.3 9.2 10

 11 FL113072003 Nonfinancial noncorporate business 134.8 23.4 114.8 104.1 64.6 23.4 1.4 0.0 0.0 11

 12 FL613072003 Finance companies 1.9 0.0 1.4 0.7 0.2 0.0 0.0 0.0 0.0 12

 Funding agreements backing securities:

 13 FL673090543 Liab.: Life insurance companies (2) 114.9 155.4 126.0 141.5 152.2 155.4 169.9 172.0 171.3 13

 14 FL673090543 Asset: ABS issuers 114.9 155.4 126.0 141.5 152.2 155.4 169.9 172.0 171.3 14

 Deferred and unpaid life insurance premiums:

 15 FL543077073 Liab.: Household sector 36.6 38.1 38.7 37.9 37.9 38.1 39.8 39.0 39.1 15

 16 FL543077073 Asset: Life insurance companies 36.6 38.1 38.7 37.9 37.9 38.1 39.8 39.0 39.1 16

 Life insurance company reserves:

 17 FL543195005 Liab.: Life insurance companies 445.8 462.8 449.3 450.8 457.1 462.8 467.8 467.7 472.0 17

 18 FL263195105 Rest of the world 24.4 26.7 25.0 25.6 26.1 26.7 26.9 27.1 27.5 18

 19 FL153095105 Asset: Household sector 383.8 398.9 386.8 387.9 393.7 398.9 403.3 402.7 406.1 19

 20 FL543095105 Life insurance companies 86.4 90.6 87.5 88.5 89.5 90.6 91.4 92.2 93.3 20

 Policy payables:

 21 FL513176005 Liab.: Property-casualty insurance companies 1393.5 1504.7 1425.1 1451.5 1500.7 1504.7 1517.3 1558.3 1611.0 21

 22 FL263176005 Rest of the world 163.3 179.5 167.3 171.4 175.5 179.5 181.0 185.9 192.2 22

 23 FL153076005 Asset: Household sector 625.2 666.1 637.8 647.1 667.7 666.1 670.4 686.6 708.9 23

 24 FL103076005 Nonfinancial corporate business 414.0 450.0 424.5 433.0 450.6 450.0 454.1 466.9 482.9 24

 25 FL113076005 Nonfinancial noncorporate business 135.9 153.2 140.3 144.6 151.3 153.2 155.4 161.0 167.2 25

 26 FL513076005 Property-casualty insurance companies 322.4 349.8 329.3 336.1 343.0 349.8 352.8 362.3 374.5 26

 27 FL263076005 Rest of the world 59.1 65.1 60.6 62.1 63.6 65.1 65.7 67.4 69.7 27

 Unallocated insurance company contracts:

 28 FL593095005 Liab.: Life insurance companies 889.8 936.2 893.1 916.6 919.3 936.2 918.5 885.3 876.8 28

 29 FL573095005 Asset: Private pension funds 631.6 660.4 632.4 649.0 649.8 660.4 641.5 611.4 602.6 29

 30 FL223095505 State and local government retirement funds 258.2 275.8 260.8 267.6 269.5 275.8 277.0 274.0 274.2 30

 Pension fund contributions payable:

 31 FL573074005 Liab.: Nonfinancial corporate business 77.7 74.9 77.1 76.5 75.7 74.9 74.2 73.5 72.7 31

 32 FL573074005 Asset: Private pension funds 77.7 74.9 77.1 76.5 75.7 74.9 74.2 73.5 72.7 32

 Securities brokers and dealers payables:

 33 FL663170605 Liab.: Brokers and dealers 522.7 656.9 683.7 694.7 739.7 656.9 728.8 660.9 643.3 33

 34 FL663070675 Other financial business 629.4 685.8 613.6 685.9 728.9 685.8 768.3 762.9 693.4 34

 35 FL663070605 Asset: Brokers and dealers 1152.1 1342.7 1297.3 1380.5 1468.6 1342.7 1497.0 1423.8 1336.7 35

 Retiree health care funds:

 36 FL313195105 Liab.: Federal government (3) 323.6 345.1 322.2 325.7 328.6 345.1 346.8 353.3 357.6 36

 37 FL313195105 Asset: Household sector 323.6 345.1 322.2 325.7 328.6 345.1 346.8 353.3 357.6 37

 Claims of pension fund on sponsor:

 38 FL573073005 Liab.: Nonfinancial corporate business 118.9 -76.2 112.2 -16.6 31.4 -76.2 151.0 542.0 703.2 38

 39 FL343073045 Federal government 1645.2 1554.8 1670.1 1676.6 1707.6 1554.8 1571.1 1569.1 1538.9 39

 40 FL223073045 State and local governments 4005.6 3506.6 3909.4 3675.4 3709.9 3506.6 3792.8 4289.8 4619.9 40

 41 FL573073005 Asset: Private pension funds 118.9 -76.2 112.2 -16.6 31.4 -76.2 151.0 542.0 703.2 41

 42 FL343073045 Federal government retirement funds 1645.2 1554.8 1670.1 1676.6 1707.6 1554.8 1571.1 1569.1 1538.9 42

 43 FL223073045 State and local govt. retirement funds 4005.6 3506.6 3909.4 3675.4 3709.9 3506.6 3792.8 4289.8 4619.9 43

(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.133 and L.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
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Z.1, December 9, 2022 137

L.234 Unidentified Miscellaneous Financial Claims

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL893193005 Total liabilities 11127.6 11826.2 11371.0 11567.0 11489.2 11826.2 11599.1 11319.6 11385.0 1

 2 FL103193005 Nonfinancial corporate business 8038.4 8287.0 7962.3 8166.7 8127.8 8287.0 8030.0 7793.9 7625.3 2

 3 FL113193003 Nonfinancial noncorporate business 1956.0 2031.5 1966.0 1990.0 2014.0 2031.5 2050.5 2063.2 2067.9 3

 4 FL313193013 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FL713193005 Monetary authority 10.5 11.8 10.7 11.2 9.6 11.8 9.4 7.7 6.7 5

 6 FL763193005 U.S.-chartered depository institutions 368.0 412.8 420.2 446.9 477.3 412.8 457.1 430.2 517.3 6

 7 FL753193005 Foreign banking offices in U.S. 95.3 113.3 99.0 99.8 98.6 113.3 120.2 136.6 162.9 7

 8 FL743193005 Banks in U.S.-affiliated areas 3.2 2.1 2.7 2.4 2.3 2.1 2.0 2.1 1.9 8

 9 FL473193005 Credit unions 23.3 28.3 22.6 25.2 27.4 28.3 29.5 33.1 41.6 9

 10 FL513193005 Property-casualty insurance companies 282.8 314.6 300.0 312.8 327.1 314.6 350.1 340.1 346.9 10

 11 FL543193005 Life insurance companies 458.6 468.1 449.8 452.3 445.9 468.1 474.3 476.8 502.6 11

 12 FL403193005 Government-sponsored enterprises 63.1 58.7 55.2 50.6 54.8 58.7 60.8 62.4 71.3 12

 13 FL613193005 Finance companies 179.1 173.4 186.1 180.1 200.1 173.4 166.2 163.2 125.6 13

 14 FL643193005 REITs 161.1 163.3 165.7 166.6 162.2 163.3 163.9 167.7 182.1 14

 15 FL663193005 Brokers and dealers -541.7 -509.2 -499.3 -516.7 -553.1 -509.2 -539.8 -590.8 -588.1 15

 16 FL733193005 Holding companies 1.5 2.8 -1.7 -3.7 7.0 2.8 2.2 13.3 25.2 16

 17 FL503193005 Other financial business 28.4 267.9 231.7 182.8 88.3 267.9 222.5 220.2 295.8 17

 18 FL893093005 Total assets 13930.4 13973.5 13782.0 13474.0 13856.2 13973.5 14907.2 16604.3 17700.6 18

 19 FL103093005 Nonfinancial corporate business 5542.0 5051.2 5329.4 4833.4 5074.6 5051.2 5792.0 7286.1 8195.1 19

 20 FL113093005 Nonfinancial noncorporate business 3552.1 3705.3 3605.3 3635.3 3665.2 3705.3 3746.8 3798.3 3854.8 20

 21 FL313093003 Federal government 151.8 159.3 153.9 155.9 157.1 159.3 161.2 163.7 166.4 21

 22 FL213093003 State and local governments 61.9 127.0 85.9 105.9 115.2 127.0 126.7 128.9 138.4 22

 23 FL713093005 Monetary authority 31.1 32.0 30.1 30.6 31.2 32.0 32.4 33.9 33.9 23

 24 FL763093005 U.S.-chartered depository institutions 661.4 669.2 644.7 646.3 691.5 669.2 795.5 923.7 994.1 24

 25 FL753093005 Foreign banking offices in U.S. 77.6 104.7 83.2 93.4 86.3 104.7 109.2 109.7 123.9 25

 26 FL743093005 Banks in U.S.-affiliated areas 11.9 6.8 20.7 21.1 10.2 6.8 6.1 4.1 11.1 26

 27 FL473093005 Credit unions 120.9 126.5 112.4 126.5 131.9 126.5 128.9 106.2 96.6 27

 28 FL513093005 Property-casualty insurance companies 158.7 75.8 122.8 123.5 97.1 75.8 119.9 157.2 203.0 28

 29 FL543093005 Life insurance companies 639.1 726.7 653.6 684.9 697.6 726.7 735.2 769.3 794.3 29

 30 FL573093005 Private pension funds 955.0 1063.2 974.5 1009.1 1034.2 1063.2 1084.4 1111.7 1139.9 30

 31 FL223093005 State and local govt. retirement funds 827.6 998.7 852.1 880.8 914.8 998.7 932.2 961.8 971.3 31

 32 FL633093005 Money market funds (net) 7.1 -2.9 -37.5 -60.9 41.3 -2.9 22.8 23.4 16.9 32

 33 FL653093005 Mutual funds 286.6 346.2 299.6 346.8 348.3 346.2 334.5 350.0 326.7 33

 34 LM563093003 Exchange-traded funds 144.3 133.1 127.5 139.2 132.0 133.1 164.8 151.2 129.6 34

 35 FL403093005 Government-sponsored enterprises 189.7 159.2 199.3 174.6 173.5 159.2 145.5 121.0 113.7 35

 36 FL613093005 Finance companies 201.9 140.3 181.7 176.2 159.7 140.3 133.6 133.4 133.1 36

 37 FL643093005 REITs 199.6 228.8 216.0 218.8 217.1 228.8 240.1 240.9 240.8 37

 38 FL663093005 Brokers and dealers 67.5 80.6 82.1 82.3 32.5 80.6 49.5 -14.4 -30.7 38

 39 FL733093005 Holding companies 41.0 39.5 42.7 44.6 42.7 39.5 43.6 41.7 44.0 39

 40 FL503093023 Other financial business 1.8 2.4 2.1 5.6 2.3 2.4 2.6 2.4 3.7 40

 41 FL903090005 Discrepancy -2802.8 -2147.3 -2411.0 -1907.0 -2367.0 -2147.3 -3308.1 -5284.7 -6315.6 41
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138 Z.1, December 9, 2022

B.101 Balance Sheet of Households and Nonprofit Organizations (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL152000005 Assets 148465.6 168481.0 153538.7 159818.0 163274.6 168481.0 168507.6 162584.6 162512.8 1

 2 LM152010005 Nonfinancial assets 43580.9 50337.4 44957.3 46813.0 48629.2 50337.4 52174.4 53809.3 54791.9 2

 3 LM155035005 Real estate 36756.7 42479.8 37985.0 39481.9 41024.8 42479.8 44056.3 45540.9 46360.6 3

 4 LM155035015 Households (2) 32996.4 38113.4 34186.0 35557.8 36820.6 38113.4 39738.1 41193.9 41909.0 4

 5 LM165035005 Nonprofit organizations 3760.3 4366.4 3799.0 3924.1 4204.2 4366.4 4318.2 4347.0 4451.6 5

 6 LM165015205 Equipment (nonprofits) (3) 482.2 517.4 492.7 493.4 504.1 517.4 532.2 548.8 561.9 6

 7 LM165013765 Intellectual property products (nonprofits) (3) 207.5 218.6 208.8 211.6 215.1 218.6 221.9 225.9 230.1 7

 8 LM155111005 Consumer durable goods (3) 6134.4 7121.6 6270.8 6626.1 6885.2 7121.6 7364.1 7493.6 7639.3 8

 9 FL154090005 Financial assets 104884.7 118143.6 108581.4 113005.1 114645.4 118143.6 116333.2 108775.3 107720.9 9

 10 LM153091003 Foreign deposits 48.5 48.2 49.8 48.5 47.3 48.2 50.2 49.6 50.9 10

 11 FL153020005 Checkable deposits and currency 3182.2 4280.2 3587.0 3944.2 4062.2 4280.2 4508.4 4831.1 5123.3 11

 12 FL153030005 Time and savings deposits 10418.6 11215.9 10937.0 10764.5 10900.5 11215.9 11259.5 10812.9 10454.7 12

 13 FL153034005 Money market fund shares 2701.9 2803.3 2792.5 2775.2 2709.0 2803.3 2724.5 2729.2 2780.5 13

 14 LM154022005 Debt securities 3936.8 2883.4 3338.8 3192.3 3294.8 2883.4 3305.2 3594.1 4305.9 14

 15 LM153061105 Treasury securities 1368.5 590.9 1057.0 806.4 942.1 590.9 1074.1 1201.4 1729.0 15

 16 LM153061705 Agency- and GSE-backed securities 237.9 255.2 166.6 272.1 209.3 255.2 351.9 555.8 808.9 16

 17 LM153062005 Municipal securities 1929.6 1806.0 1889.4 1884.7 1832.3 1806.0 1651.4 1611.9 1544.8 17

 18 LM153063005 Corporate and foreign bonds 400.8 231.3 225.8 229.0 311.1 231.3 227.9 225.1 223.3 18

 19 FL154023005 Loans 1254.3 1350.7 1267.8 1283.9 1334.8 1350.7 1481.5 1425.6 1368.7 19

 20 FL153069005 Other loans and advances (4) 1149.7 1241.7 1161.5 1176.9 1226.9 1241.7 1373.3 1318.6 1262.5 20

 21 FL153065005 Mortgages 80.5 86.6 82.4 83.7 85.2 86.6 86.2 85.4 85.1 21

 22 FL163066223 Consumer credit (student loans) (5) 24.1 22.4 23.8 23.2 22.7 22.4 22.0 21.6 21.1 22

 23 LM153064105 Corporate equities 26122.9 31940.7 28161.1 30468.1 30740.8 31940.7 30545.3 25424.0 24328.6 23

 24 LM153064205 Mutual fund shares 10960.1 12755.8 11421.3 12032.2 12008.3 12755.8 11781.2 9962.2 9297.9 24

 25 FL163070005 Trade receivables (5) 283.3 291.5 285.3 287.4 289.4 291.5 293.6 295.8 297.9 25

 26 FL153040005 Life insurance reserves 1867.0 1944.9 1872.8 1910.3 1926.9 1944.9 1919.6 1887.5 1885.6 26

 27 FL153050005 Pension entitlements (6) 29794.3 31677.5 30199.0 30957.3 31025.1 31677.5 31094.5 29762.3 29403.6 27

 28 LM152090205 Equity in noncorporate business (7) 12948.1 15531.1 13293.1 13959.0 14901.2 15531.1 15942.4 16553.6 16946.8 28

 29 FL153090005 Miscellaneous assets 1366.8 1420.3 1375.9 1382.3 1405.1 1420.3 1427.3 1447.5 1476.5 29

 30 FL154190005 Liabilities 17121.3 18358.9 17319.1 17659.2 17968.7 18358.9 18553.8 18914.2 19234.4 30

 31 FL163162003 Debt securities (municipal securities) (5) 201.7 200.1 202.2 202.1 201.0 200.1 202.1 199.8 199.1 31

 32 FL154123005 Loans 16506.3 17737.1 16699.7 17039.1 17347.9 17737.1 17926.4 18288.3 18607.4 32

 33 FL153165105 One-to-four-family residential mortgages (8) 10916.1 11751.1 11037.5 11261.0 11499.1 11751.1 11887.7 12145.4 12354.0 33

 34 FL153166000 Consumer credit 4184.9 4430.8 4167.2 4259.1 4337.4 4430.8 4462.6 4583.6 4684.5 34

 35 FL153168005 Depository institution loans n.e.c. 370.7 423.8 370.3 371.7 384.9 423.8 437.1 458.2 468.7 35

 36 FL153169005 Other loans and advances 774.3 869.8 864.1 886.3 865.3 869.8 877.2 838.9 837.6 36

 37 FL163165505 Commercial mortgages (5) 260.4 261.5 260.7 261.0 261.2 261.5 261.9 262.3 262.6 37

 38 FL163170005 Trade payables (5) 376.7 383.7 378.5 380.2 381.9 383.7 385.4 387.1 388.9 38

 39 FL543077073 Deferred and unpaid life insurance premiums 36.6 38.1 38.7 37.9 37.9 38.1 39.8 39.0 39.1 39

 40 FL152090005 Net worth 131344.3 150122.1 136219.6 142158.8 145305.9 150122.1 149953.8 143670.4 143278.4 40

 Memo:

 41 FL893131573 Assets held in IRAs (9) 12333.0 13913.0 12695.0 13396.0 13336.0 13913.0 13168.0 11669.0 ND 41

 42 FL154023205 Assets held in 529 college plans (9) 425.3 480.2 438.4 464.4 458.5 480.2 457.7 412.5 411.1 42

 43 LM154023223 College savings plans 398.6 452.6 412.3 437.2 431.1 452.6 431.7 388.2 388.2 43

 44 FL154023213 Prepaid tuition plans 26.7 27.7 26.0 27.2 27.3 27.7 26.0 24.2 22.9 44

 Replacement-cost value of structures:

 45 LM155012605 Residential 20307.4 23972.4 21129.5 22121.3 23095.8 23972.4 25139.1 26154.4 26730.9 45

 46 LM155012665 Households 19985.9 23609.4 20799.1 21779.4 22742.4 23609.4 24759.6 25760.6 26328.9 46

 47 LM165012665 Nonprofit organizations 321.5 363.0 330.4 341.9 353.4 363.0 379.6 393.8 402.0 47

 48 LM165013665 Nonresidential (nonprofits) 2061.0 2321.6 2079.7 2132.3 2196.0 2321.6 2415.0 2516.3 2635.3 48

 49 FA156012005 Disposable personal income (DPI) (SAAR) 17595.9 18633.1 19586.5 18277.8 18312.0 18356.1 18174.4 18389.8 18625.6 49

 50 FL152090006 Net worth/DPI (percent) (line 40/line 49) 746.45 805.67 695.48 777.77 793.50 817.83 825.08 781.25 769.26 50

 51 FL155035065 Owners’ equity in real estate (line 4 less line 33) 22080.3 26362.2 23148.5 24296.8 25321.6 26362.2 27850.4 29048.6 29555.1 51

 52 FL155035066 Owners’ equity/real estate (percent) (line 51/line 4) 66.92 69.17 67.71 68.33 68.77 69.17 70.08 70.52 70.52 52

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts. Supplementary balance sheet tables B.101.h and B.101.n show estimates of annual year-end outstandings of

 households and nonprofit organizations, respectively. Detail on the sector’s indirect holdings of debt securities and equity is shown on table B.101.e.

(2) 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. At market value.

(3) At replacement (current) cost.

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

(5) Student loans and trade receivables are financial assets of nonprofit organizations; municipal securities, commercial mortgages, and trade payables are liabilities.

(6) 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.

(7) Net worth of nonfinancial noncorporate business (table B.104, line 35) and owners’ equity in unincorporated security brokers and dealers.

(8) Includes loans made under home equity lines of credit and home equity loans secured by junior liens (table L.218, line 23).

(9) Included in assets shown on the household balance sheet.
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B.103 Balance Sheet of Nonfinancial Corporate Business

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL102000005 Assets 49147.1 54528.3 49960.4 51035.7 52717.2 54528.3 54742.0 54988.8 55499.5 1

 2 LM102010005 Nonfinancial assets 25869.2 29133.7 26243.5 26842.7 28161.8 29133.7 29226.9 29633.9 30247.1 2

 3 LM105035005 Real estate (market value) 14787.3 16936.4 14878.7 15281.8 16340.3 16936.4 16604.8 16598.2 17035.2 3

 4 LM105015205 Equipment (replacement cost) 5344.8 5785.0 5470.1 5490.8 5619.0 5785.0 5924.2 6085.5 6201.0 4

 5 LM105013765 Intellectual property products (replacement cost) 3066.8 3302.3 3105.9 3162.0 3233.5 3302.3 3381.6 3474.2 3562.3 5

 6 LM105020015 Inventories (replacement cost) 2670.4 3110.0 2788.8 2908.2 2969.0 3110.0 3316.3 3476.0 3448.6 6

 7 FL104090005 Financial assets 23277.9 25394.6 23716.9 24193.0 24555.4 25394.6 25515.1 25354.9 25252.4 7

 8 FL103091003 Foreign deposits 135.0 158.8 161.0 193.6 160.4 158.8 184.4 156.1 152.8 8

 9 FL103020000 Checkable deposits and currency 1740.9 1882.2 1706.7 1693.5 1835.3 1882.2 1830.4 1706.0 1520.9 9

 10 FL103030003 Time and savings deposits 278.1 276.8 275.0 281.3 307.3 276.8 270.4 266.1 281.0 10

 11 FL103034000 Money market fund shares 712.1 813.1 747.0 761.1 769.3 813.1 784.6 776.2 781.3 11

 12 FL102051003 Security repurchase agreements 37.0 25.1 22.3 36.2 27.0 25.1 27.8 22.8 20.5 12

 13 LM104022005 Debt securities 364.3 384.0 334.5 362.5 370.3 384.0 360.7 384.1 344.8 13

 14 FL103069100 Commercial paper 250.9 253.0 235.5 269.1 250.1 253.0 229.0 245.4 210.0 14

 15 LM103061103 Treasury securities 72.9 85.9 62.1 57.7 77.9 85.9 87.3 92.9 90.5 15

 16 LM103061703 Agency- and GSE-backed securities 24.3 28.6 20.7 19.2 26.0 28.6 29.1 31.0 30.2 16

 17 LM103062003 Municipal securities 16.3 16.4 16.2 16.5 16.3 16.4 15.3 14.7 14.1 17

 18 FL104023005 Loans 80.3 87.0 80.7 82.4 84.4 87.0 87.6 89.6 91.8 18

 19 FL103065003 Mortgages 44.4 51.1 46.0 47.7 49.4 51.1 52.9 54.8 56.8 19

 20 FL103066005 Consumer credit 35.8 35.8 34.7 34.7 35.0 35.8 34.7 34.8 35.0 20

 21 LM103064103 Corporate equities 2543.2 3124.4 2675.0 2868.1 2849.3 3124.4 2944.1 2434.3 2280.1 21

 22 LM103064203 Mutual fund shares 376.7 446.6 394.2 422.1 425.0 446.6 424.1 375.4 360.3 22

 23 FL103070005 Trade receivables 3916.2 4468.3 4068.5 4213.1 4300.5 4468.3 4669.1 4862.5 4819.9 23

 24 LM103092005 U.S. direct investment abroad (1) 6782.8 8058.4 7185.7 7749.6 7688.2 8058.4 7545.5 6411.6 5819.1 24

 25 FL103090005 Miscellaneous assets 6311.3 5670.0 6066.2 5529.4 5738.4 5670.0 6386.5 7870.5 8780.0 25

 26 FL104190005 Liabilities 22998.5 24089.3 23192.5 23342.1 23631.8 24089.3 24617.1 25081.9 25188.2 26

 27 FL104122005 Debt securities 7277.3 7492.7 7412.2 7442.1 7512.9 7492.7 7587.9 7542.7 7551.2 27

 28 FL103169100 Commercial paper 132.2 138.2 144.0 132.0 122.4 138.2 188.7 188.1 199.1 28

 29 FL103162000 Municipal securities (2) 604.5 615.0 605.9 610.7 612.9 615.0 618.8 622.2 616.7 29

 30 FL103163003 Corporate bonds (1) 6540.6 6739.4 6662.3 6699.4 6777.6 6739.4 6780.3 6732.4 6735.5 30

 31 FL104123005 Loans 4121.1 4513.2 4201.7 4187.4 4283.1 4513.2 4803.7 5028.5 5139.6 31

 32 FL103168005 Depository institution loans n.e.c. 1182.8 1144.4 1191.0 1102.1 1062.1 1144.4 1288.9 1404.5 1459.2 32

 33 FL103169005 Other loans and advances 2025.7 2330.2 2081.3 2124.3 2218.8 2330.2 2441.3 2493.0 2512.4 33

 34 FL103165005 Mortgages 912.6 1038.6 929.4 961.1 1002.2 1038.6 1073.5 1131.1 1168.1 34

 35 FL103170005 Trade payables 2764.6 3216.5 2817.2 2927.4 3031.5 3216.5 3351.6 3520.0 3509.7 35

 36 FL103178005 Taxes payable 275.4 251.5 277.3 253.6 252.8 251.5 305.0 265.9 261.8 36

 37 LM103192305 Foreign direct investment: intercompany debt 325.1 329.8 332.4 305.0 316.7 329.8 313.7 315.4 324.6 37

 38 FL103190005 Miscellaneous liabilities 8235.1 8285.7 8151.6 8226.6 8234.9 8285.7 8255.2 8409.4 8401.2 38

 39 FL102090005 Net worth 26148.6 30439.0 26768.0 27693.6 29085.4 30439.0 30124.9 29906.9 30311.3 39

 Memo:

 40 LM103164103 Corporate equities (market value) 42498.0 51408.0 44980.3 48277.7 48151.5 51408.0 48188.9 39427.4 37736.5 40

 41 LM103164113 Public issues 35190.0 43527.7 37141.3 40271.8 40119.1 43527.7 40660.4 33128.8 31510.6 41

 42 LM103164123 Private issues 7308.0 7880.2 7839.0 8005.9 8032.5 7880.2 7528.5 6298.7 6225.9 42

 43 LM103192105 Foreign direct investment: equity 8670.3 11194.7 9215.4 10018.8 10080.8 11194.7 10619.5 8857.6 8468.8 43

 44 FL103164106 Equities/net worth (percent) (3) 195.68 205.67 202.46 210.51 200.21 205.67 195.22 161.45 152.44 44

 45 FL104104016 Debt/equities (percent) (3) 22.28 19.18 21.43 19.95 20.26 19.18 21.07 26.04 27.47 45

 46 FL104104006 Debt/net worth (percent) (3) 43.59 39.44 43.39 41.99 40.56 39.44 41.13 42.03 41.87 46

 With nonfinancial assets stated at historical cost:

 47 FL102000115 Assets (sum of lines 7 and 48) 40019.8 42966.5 40687.1 41351.6 41913.9 42966.5 43437.9 43526.5 43661.1 47

 48 FL102010115 Nonfinancial assets 16741.9 17571.9 16970.2 17158.6 17358.5 17571.9 17922.8 18171.6 18408.7 48

 49 FL105035045 Real estate 6717.3 6865.1 6758.0 6798.0 6819.5 6865.1 6917.1 6945.4 7001.1 49

 50 FL105013213 Equipment 5101.4 5233.0 5130.7 5164.1 5197.4 5233.0 5275.4 5315.7 5359.9 50

 51 FL105013715 Intellectual property products 2763.0 2978.2 2813.9 2868.2 2923.0 2978.2 3035.2 3094.3 3153.1 51

 52 FL105020000 Inventories 2160.3 2495.6 2267.5 2328.4 2418.6 2495.6 2695.1 2816.1 2894.6 52

 53 FL102090115 Net worth (historical cost) (line 47 less line 26) 17021.3 18877.2 17494.6 18009.5 18282.1 18877.2 18820.8 18444.5 18472.9 53

 Memo:

 Historical-cost value of structures:

 54 FL105012613 Residential 122.2 130.1 124.2 126.2 128.1 130.1 132.2 134.2 135.9 54

 55 FL105013613 Nonresidential 5974.3 6144.9 6015.3 6057.6 6100.6 6144.9 6192.9 6239.8 6288.0 55

(1) 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.

(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) Debt is calculated as the sum of debt securities (line 27) and loans (line 31). The ratios on line 44 and 45 use the sum of corporate equities (line 40) and foreign direct investment: equity (line 43).
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B.104 Balance Sheet of Nonfinancial Noncorporate Business

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL112000005 Assets 22039.8 25031.6 22489.9 23238.8 24243.2 25031.6 25598.3 26314.1 26803.5 1

 2 LM112010005 Nonfinancial assets 15577.7 18284.3 15956.6 16640.6 17595.8 18284.3 18745.2 19369.3 19779.4 2

 3 LM115035005 Real estate (1) 14100.0 16651.7 14436.3 15096.7 16016.9 16651.7 17003.4 17517.5 17834.9 3

 4 LM115035023 Residential 8055.8 9789.0 8331.9 8821.8 9378.7 9789.0 10199.1 10658.3 10782.5 4

 5 LM115035035 Nonresidential 6044.3 6862.7 6104.4 6274.9 6638.2 6862.7 6804.4 6859.1 7052.4 5

 6 LM115015205 Equipment (2) 913.3 1000.4 937.9 944.1 969.0 1000.4 1087.7 1179.5 1264.0 6

 7 LM115012265 Residential (3) 65.7 75.6 67.2 70.0 73.1 75.6 79.4 80.8 79.7 7

 8 LM115013265 Nonresidential 847.6 924.9 870.7 874.1 895.9 924.9 1008.3 1098.7 1184.3 8

 9 LM115013765 Intellectual property products (2) 322.4 347.9 325.6 331.2 339.1 347.9 358.7 371.2 383.2 9

 10 LM115020005 Inventories (2) 242.0 284.3 256.8 268.6 270.8 284.3 295.4 301.2 297.3 10

 11 FL114090005 Financial assets 6462.1 6747.2 6533.3 6598.2 6647.4 6747.2 6853.1 6944.8 7024.1 11

 12 FL113020005 Checkable deposits and currency 393.2 471.5 403.4 418.3 437.6 471.5 503.4 516.7 511.9 12

 13 FL113030003 Time and savings deposits 1168.4 1263.8 1178.2 1193.1 1214.4 1263.8 1307.3 1306.9 1306.2 13

 14 FL113034003 Money market fund shares 117.2 119.5 117.9 118.3 118.9 119.5 120.2 122.6 124.2 14

 15 LM114022005 Debt securities 82.3 80.8 79.8 80.0 79.3 80.8 76.8 78.8 86.8 15

 16 LM113061003 Treasury securities 78.1 76.1 75.4 75.5 74.7 76.1 72.3 74.3 82.2 16

 17 LM113062003 Municipal securities 4.2 4.6 4.4 4.4 4.6 4.6 4.5 4.5 4.6 17

 18 FL114023005 Loans 55.0 58.7 56.5 56.7 58.0 58.7 59.9 61.0 61.8 18

 19 FL113065005 Mortgages 55.0 58.7 56.5 56.7 58.0 58.7 59.9 61.0 61.8 19

 20 FL113066003 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 FL113070003 Trade receivables 810.3 856.9 824.1 834.3 844.4 856.9 867.7 885.0 896.1 21

 22 FL113090005 Miscellaneous assets 3835.7 3896.1 3873.4 3897.6 3894.9 3896.1 3917.8 3973.7 4037.2 22

 23 FL113076005 Insurance receivables 135.9 153.2 140.3 144.6 151.3 153.2 155.4 161.0 167.2 23

 24 FL113092405 Equity investment in GSEs (4) 13.0 14.3 13.0 13.6 13.8 14.3 14.3 14.4 15.3 24

 25 FL113072003 PPP subsidies receivable 134.8 23.4 114.8 104.1 64.6 23.4 1.4 0.0 0.0 25

 26 FL113093005 Other 3552.1 3705.3 3605.3 3635.3 3665.2 3705.3 3746.8 3798.3 3854.8 26

 27 FL114190005 Liabilities 9060.4 9460.2 9164.3 9238.7 9306.6 9460.2 9613.3 9741.8 9836.1 27

 28 FL114123005 Loans 6407.9 6669.5 6472.6 6515.0 6543.2 6669.5 6791.5 6918.2 7009.3 28

 29 FL113168005 Depository institution loans n.e.c. 1583.5 1498.1 1579.6 1536.6 1478.0 1498.1 1514.9 1540.4 1550.6 29

 30 FL113169005 Other loans and advances 352.4 409.8 364.6 387.7 400.2 409.8 430.6 436.1 447.9 30

 31 FL113165005 Mortgages 4471.9 4761.6 4528.5 4590.7 4665.1 4761.6 4846.0 4941.8 5010.7 31

 32 FL113170005 Trade payables 515.0 573.0 539.6 549.9 564.2 573.0 584.5 592.3 599.8 32

 33 FL113178003 Taxes payable 175.5 180.5 180.2 178.2 179.7 180.5 181.4 163.0 154.2 33

 34 LM115114305 Foreign direct investment: intercompany debt 6.0 5.7 6.0 5.7 5.5 5.7 5.3 5.1 4.8 34

 35 FL113193003 Miscellaneous liabilities 1956.0 2031.5 1966.0 1990.0 2014.0 2031.5 2050.5 2063.2 2067.9 35

 36 FL112090005 Net worth 12979.4 15571.4 13325.6 14000.1 14936.6 15571.4 15985.1 16572.3 16967.4 36

 Memo:

 37 LM112090205 Proprietors’ net investment (5) 12857.8 15425.0 13199.3 13861.0 14801.6 15425.0 15847.4 16459.7 16849.3 37

 38 LM115114103 Foreign direct investment: equity 121.6 146.4 126.3 139.1 135.0 146.4 137.6 112.7 118.1 38

 Replacement-cost value of structures:

 39 FL115012665 Residential 4148.8 4686.1 4263.6 4414.3 4558.7 4686.1 4907.5 5099.2 5209.0 39

 40 FL115013665 Nonresidential 2411.0 2795.0 2439.0 2512.5 2602.9 2795.0 3081.0 3392.4 3742.9 40

 41 FL114104006 Debt/net worth (percent) (line 27/line 36) 49.37 42.83 48.57 46.54 43.81 42.83 42.49 41.75 41.31 41

(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 28.
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R.101 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FC152090005 Change in net worth (1) 14805.0 18777.9 4875.3 5939.2 3147.1 4816.3 -168.3 -6283.5 -392.0 1

 2 FU155060005 Net investment 3644.4 2610.3 740.0 537.2 610.8 722.3 595.1 -113.8 240.8 2

 3 FU155061005 Net physical investment 648.4 982.4 249.4 265.3 229.1 238.6 251.0 223.9 202.5 3

 4 FU155050005 Capital expenditures 2492.1 3050.7 740.1 768.7 757.1 784.8 813.7 805.3 795.7 4

 5 FU155012005 Residential 746.5 925.7 225.2 227.7 232.1 240.7 248.7 240.0 225.3 5

 6 FU165013005 Nonprofit nonresidential 209.2 220.6 54.9 52.5 54.8 58.5 60.2 61.1 62.2 6

 7 FU155111003 Consumer durable goods 1550.3 1918.6 463.5 492.0 473.8 489.3 508.4 507.9 511.9 7

 8 FU155420003 Nonproduced nonfinancial assets -14.0 -14.3 -3.5 -3.5 -3.6 -3.6 -3.7 -3.7 -3.7 8

 9 FU156300005 - Consumption of fixed capital 1843.7 2068.3 490.7 503.5 527.9 546.2 562.7 581.4 593.1 9

 10 FU156320005 Residential 459.4 522.8 124.1 128.5 133.2 137.0 142.9 147.4 151.1 10

 11 FU166330005 Nonprofit nonresidential 171.5 181.7 43.1 44.7 46.3 47.6 49.7 51.2 52.5 11

 12 FU156300103 Consumer durable goods 1212.8 1363.8 323.5 330.3 348.4 361.6 370.2 382.8 389.5 12

 13 FU155000005 Net lending (+) or net borrowing (-) 2996.1 1627.9 490.5 271.9 381.7 483.7 344.2 -337.7 38.2 13

 14 FU154090005 Net acquisition of financial assets 3621.2 2869.6 689.5 613.0 692.1 875.0 626.0 23.6 359.3 14

 15 FU154190005 - Net increase in liabilities 625.1 1241.8 198.9 341.1 310.4 391.3 281.9 361.3 321.0 15

 16 FR158000005 Net holding gains 11030.6 16130.6 3891.7 5490.2 2502.3 4246.3 -1276.7 -6331.0 -1016.2 16

 17 FR152010085 Nonfinancial assets 3049.8 5792.5 1127.3 1590.4 1604.7 1470.0 1586.6 1409.3 820.1 17

 18 FR155035005 Real estate 2970.1 5342.3 1127.7 1399.2 1462.9 1352.5 1472.3 1391.7 787.0 18

 19 FR165015205 Equipment (2) 6.7 14.4 4.3 -3.7 6.1 7.7 8.9 11.2 7.4 19

 20 FR165013765 Intellectual property products (2) 7.4 3.3 -1.1 1.5 1.9 1.1 1.1 2.0 2.4 20

 21 FR155111005 Consumer durable goods (2) 65.5 432.4 -3.6 193.5 133.8 108.8 104.2 4.4 23.3 21

 22 FR154090005 Financial assets 7980.8 10338.1 2764.4 3899.8 897.6 2776.3 -2863.3 -7740.3 -1836.3 22

 23 FR154022005 Debt securities 197.0 -122.4 -124.8 39.6 -33.6 -3.6 -189.6 -129.7 -165.0 23

 24 FR153064105 Corporate equities 4400.1 5081.1 1821.8 1947.1 152.4 1159.8 -1626.3 -5205.7 -990.9 24

 25 FR153064205 Mutual fund shares 1139.6 1281.1 331.7 587.4 -83.4 445.4 -807.0 -1500.0 -554.9 25

 26 FR153040005 Life insurance reserves 41.5 47.0 7.6 27.7 -2.5 14.2 -25.7 -45.9 -16.5 26

 27 FR153050005 Pension entitlements 1212.3 1450.8 319.6 667.7 -66.9 530.5 -712.4 -1452.6 -489.6 27

 28 FR152090205 Equity in noncorporate business 990.7 2601.7 409.1 631.0 931.8 629.9 497.3 592.9 380.3 28

 29 FR153094305 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 FR153030005 Other financial assets -0.5 -1.3 -0.5 -0.7 -0.1 0.1 0.3 0.6 0.4 30

 31 FV158090005 Other volume changes (3) 130.0 37.0 243.6 -88.1 33.9 -152.3 513.2 161.4 383.5 31

 Memo:

 32 FL152090005 Net worth outstanding (4) 131344.3 150122.1 136219.6 142158.8 145305.9 150122.1 149953.8 143670.4 143278.4 32

 33 FA156012005 Disposable personal income 17595.9 18633.1 19586.5 18277.8 18312.0 18356.1 18174.4 18389.8 18625.6 33

(1) Sum of net investment (line 2), net holding gains (line 16), and other volume changes (line 31).

(2) Valued at current cost.

(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 40.
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R.103 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FC102090005 Change in net worth (1) 2033.2 4290.4 619.3 925.6 1391.8 1353.7 -314.1 -218.0 404.4 1

 2 FU105060005 Net investment 470.0 913.3 252.7 197.1 242.0 221.5 107.0 95.9 142.3 2

 3 FU105061005 Net physical investment 274.3 613.5 170.0 112.5 172.5 158.5 323.8 177.3 195.2 3

 4 FU105050005 Capital expenditures 1954.0 2155.5 543.1 474.1 560.3 577.9 741.3 604.8 690.1 4

 5 FU105019005 Fixed investment 1998.2 2163.7 521.1 537.2 547.7 557.7 580.4 598.0 617.0 5

 6 FU105020005 Inventory change + IVA -44.2 -14.6 18.2 -62.4 8.8 20.9 80.5 3.1 51.2 6

 7 FU105420005 Nonproduced nonfinancial assets 0.0 6.4 3.9 -0.6 3.8 -0.7 80.5 3.7 21.9 7

 8 FU106300005 - Consumption of fixed capital 1706.0 1798.9 435.5 443.2 453.4 466.8 479.3 494.8 509.5 8

 9 FU106320005 Residential 4.3 6.0 1.2 1.3 1.3 2.2 1.2 1.7 1.9 9

 10 FU106330005 Nonresidential 1701.7 1792.8 434.3 441.9 452.1 464.6 478.1 493.1 507.6 10

 11 FU105020601 - Inventory valuation adjustment -26.4 -256.9 -62.3 -81.6 -65.6 -47.3 -61.7 -67.3 -14.7 11

 12 FU105000005 Net lending (+) or net borrowing (-) 159.9 277.5 21.2 66.6 68.4 121.3 -134.4 46.7 64.2 12

 13 FU104090005 Net acquisition of financial assets 394.8 1390.6 276.7 234.2 359.2 520.5 311.0 383.5 53.3 13

 14 FU104194005 - Net increase in liabilities and equity 234.9 1113.1 255.6 167.7 290.7 399.2 445.4 336.8 -10.9 14

 15 FU103164103 Net corporate equity issues -121.6 -338.1 -9.5 -70.2 -96.2 -162.2 -154.0 -185.3 -192.6 15

 16 FU103192105 Foreign direct investment: equity 157.4 360.5 71.1 88.3 97.2 103.9 71.6 57.2 75.5 16

 17 FR108000005 Net holding gains 1509.8 3471.3 380.5 740.2 1210.5 1140.1 -334.8 -281.9 298.1 17

 18 FR102010005 Nonfinancial assets 1107.2 2745.2 218.2 498.4 1207.3 821.4 -144.3 261.8 453.9 18

 19 FR105035005 Real estate 882.6 2140.2 81.2 392.6 1083.1 583.3 -351.3 -6.0 418.3 19

 20 FR105015205 Equipment (2) 41.4 339.7 99.9 -7.8 108.8 138.8 107.4 131.3 85.4 20

 21 FR105013765 Intellectual property products (2) 141.5 68.0 -0.8 13.4 28.9 26.5 35.6 47.2 43.4 21

 22 FR105020015 Inventories (2,3) 41.7 197.3 37.8 100.3 -13.5 72.8 64.0 89.3 -93.3 22

 23 FR108080095 Financial assets 402.6 726.1 162.3 241.8 3.2 318.7 -190.5 -543.7 -155.8 23

 24 FR104022005 Debt securities 1.8 -4.7 -4.8 1.1 -0.6 -0.4 -7.7 -5.0 -6.5 24

 25 FR103064103 Corporate equities 361.4 684.0 155.4 218.6 6.7 303.4 -154.6 -484.2 -128.5 25

 26 FR103064203 Mutual fund shares 39.4 46.8 11.7 22.1 -2.9 15.8 -28.3 -54.5 -20.8 26

 27 FR103092005 Direct investment abroad 326.2 959.1 323.7 430.5 -113.7 318.6 -588.6 -1251.9 -631.2 27

 28 FR103090005 Miscellaneous assets -326.2 -959.1 -323.7 -430.5 113.7 -318.6 588.6 1251.9 631.2 28

 29 FR108100005 Less: liabilities -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 -0.0 -0.0 29

 30 FR103192305 Foreign direct investment: intercompany debt -3.3 -15.0 2.0 -12.2 -4.4 -0.4 -16.2 -3.9 0.0 30

 31 FR573073005 Claims of pension fund on sponsor -310.5 -305.3 -32.2 -157.6 20.5 -135.9 202.8 367.3 132.9 31

 32 FR103193005 Miscellaneous liabilities 313.8 320.2 30.2 169.8 -16.1 136.3 -186.6 -363.3 -132.9 32

 33 FV108090005 Other volume changes (4) 53.5 -94.2 -13.9 -11.6 -60.7 -7.9 -86.3 -32.0 -36.0 33

 Memo:

 34 FL102090005 Net worth outstanding (5) 26148.6 30439.0 26768.0 27693.6 29085.4 30439.0 30124.9 29906.9 30311.3 34

(1) Sum of net investment (line 2), net holding gains (line 17), and other volume changes (line 33).

(2) Valued at current cost.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 36.
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R.104 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FC112090005 Change in net worth (1) 1052.4 2592.0 346.2 674.5 936.5 634.8 413.6 587.3 395.1 1

 2 FU115440005 Net capital transfers paid 0.0 -5.2 0.0 0.0 -5.2 0.0 0.0 0.0 -9.0 2

 3 FU115060005 Net investment 47.8 -16.4 -67.9 32.6 25.6 -6.6 -74.6 19.1 24.8 3

 4 FU115061005 Net physical investment 68.5 94.6 -39.6 43.4 43.9 46.9 -32.0 52.8 42.2 4

 5 FU115050005 Capital expenditures 433.3 487.4 54.5 139.9 143.3 149.6 74.4 162.5 154.9 5

 6 FU115019005 Fixed investment 444.9 491.8 58.4 146.0 145.5 142.0 66.4 158.9 153.8 6

 7 FU115020005 Change in inventories -11.6 -4.5 -3.9 -6.0 -2.2 7.7 8.0 3.7 1.1 7

 8 FU116300005 - Consumption of fixed capital 364.8 392.7 94.1 96.5 99.4 102.7 106.4 109.8 112.7 8

 9 FU116320005 Residential 108.4 121.3 30.9 30.0 29.7 30.6 30.2 31.1 32.5 9

 10 FU116330005 Nonresidential 256.4 271.5 63.2 66.5 69.7 72.1 76.3 78.6 80.2 10

 11 FU115000005 Net lending (+) or net borrowing (-) -68.5 -89.5 39.6 -43.4 -38.7 -46.9 32.0 -52.8 -33.2 11

 12 FU114090005 Net acquisition of financial assets 486.1 289.4 75.6 63.9 49.8 100.1 110.8 94.9 76.9 12

 13 FU114194005 - Net increase in liabilities and equity 554.6 378.8 36.0 107.3 88.5 147.0 78.8 147.7 110.1 13

 14 FU112090205 Proprietor’s net investment (2) 46.3 -21.7 -67.5 30.8 21.3 -6.4 -75.0 19.2 15.0 14

 15 FU115114103 Foreign direct investment: equity 1.4 0.2 -0.5 1.8 -0.9 -0.2 0.4 -0.2 0.7 15

 16 FR118000005 Net holding gains 1004.1 2620.5 414.0 641.8 923.2 641.4 488.2 568.2 376.1 16

 17 FR112010005 Nonfinancial assets 1000.7 2624.4 418.5 640.6 923.7 641.6 492.8 571.4 373.6 17

 18 FR115035023 Residential real estate 634.8 1697.6 300.0 463.9 532.9 400.9 434.4 430.1 102.0 18

 19 FR115035035 Nonresidential real estate 313.7 779.4 55.9 156.7 352.5 214.3 -59.0 43.9 181.2 19

 20 FR115012265 Residential equipment (3) 6.1 5.8 0.2 1.7 2.3 1.5 2.9 1.1 -1.3 20

 21 FR115013265 Nonresidential equipment (3) 36.7 87.4 42.0 -1.3 29.5 17.2 107.3 89.2 92.7 21

 22 FR115013765 Intellectual property products (3) 12.3 7.3 1.7 1.7 2.0 1.8 4.2 5.1 4.0 22

 23 FR115020005 Inventories (3) -2.8 46.8 18.7 17.8 4.5 5.9 3.1 2.1 -5.1 23

 24 FR114022005 Financial assets (debt securities) 3.4 -4.2 -4.4 1.0 -0.6 -0.2 -4.9 -3.3 2.5 24

 Less: liabilities (foreign direct

 25 FR115114305 investment: intercompany debt) -0.1 -0.3 0.0 -0.2 -0.1 -0.0 -0.3 -0.1 0.0 25

 26 FV118090005 Other volume changes (4) 0.5 -6.9 0.1 0.1 -7.1 0.1 0.1 0.1 3.3 26

 Memo:

 27 LM112090005 Net worth outstanding (5) 12979.4 15571.4 13325.6 14000.1 14936.6 15571.4 15985.1 16572.3 16967.4 27

(1) Sum of net capital transfers paid (line 2), net investment (line 3), net holding gains (line 16), and other volume changes (line 26).

(2) Shown on table F.104, line 35.

(3) Valued at current cost.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.104, line 36.
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B.101.h Balance Sheet of Households (1)

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

2013 2014 2015 2016 2017 2018 2019 2020 2021

 

 1 FL192000005 Assets 89332.0 95197.1 98194.2 103198.0 111907.0 113046.3 125494.8 140388.7 159584.4 1

 2 LM192010005 Nonfinancial assets 25130.2 26571.0 28248.1 30137.5 32139.8 34022.8 35723.8 39130.9 45235.0 2

 3 LM155035015 Real estate (2) 20350.6 21711.6 23241.1 24975.0 26839.1 28507.3 29992.4 32996.4 38113.4 3

 4 LM155111005 Consumer durable goods (3) 4779.6 4859.3 5007.0 5162.5 5300.7 5515.5 5731.4 6134.4 7121.6 4

 5 FL194090005 Financial assets 64201.8 68626.1 69946.1 73060.4 79767.2 79023.6 89770.9 101257.9 114349.4 5

 6 FL193020005 Checkable deposits and currency 994.5 951.1 1053.9 973.2 1172.5 1001.5 1033.3 3011.8 4108.2 6

 7 FL193030205 Time deposits and short-term investments 6669.0 7202.8 7764.7 8467.3 8598.3 9033.3 9611.6 10205.4 10996.0 7

 8 FL193034005 Money market fund shares 1621.7 1607.6 1649.0 1494.4 1566.0 1725.8 2159.4 2561.0 2655.1 8

 9 LM194022005 Debt securities 3593.8 3701.0 3628.5 3264.2 3226.0 3867.1 3987.0 3521.9 2445.6 9

10 LM193061005 U.S. government and municipal securities 2665.1 2692.7 3159.7 3169.6 3226.0 3846.5 3922.0 3348.6 2445.6 10

11 LM193063005 Corporate and foreign bonds 928.6 1008.3 468.8 94.6 0.0 20.6 65.0 173.3 0.0 11

12 FL194023005 Loans 939.1 982.7 917.1 907.5 849.8 841.9 864.9 984.1 1091.4 12

13 FL153067005 Other loans and advances (4) 818.2 870.3 819.2 815.3 760.4 758.4 783.9 904.8 1006.1 13

14 FL193065005 Mortgages 120.9 112.4 97.9 92.3 89.3 83.5 80.9 79.3 85.3 14

15 LM193064005 Corporate equities and mutual fund shares 17369.0 19538.8 19287.0 20937.7 24834.5 22681.6 29188.5 35031.6 42489.5 15

16 FL153040005 Life insurance reserves 1407.8 1472.1 1510.9 1568.1 1626.6 1659.1 1731.3 1867.0 1944.9 16

17 FL153050005 Pension entitlements (5) 22275.3 23103.1 23431.2 24318.0 25915.9 25795.0 28005.8 29794.3 31677.5 17

18 LM152090205 Equity in noncorporate business (6) 8306.7 9024.0 9621.8 9991.3 10784.5 11173.3 11902.2 12948.1 15531.1 18

19 FL193090005 Miscellaneous assets 1024.9 1042.8 1082.1 1138.8 1193.0 1245.1 1286.9 1332.7 1410.1 19

20 FL194190005 Liabilities 13417.8 13528.7 13700.6 14095.3 14628.8 15097.8 15590.5 16214.4 17446.5 20

21 FL194123005 Loans 13389.1 13498.8 13668.9 14064.0 14595.7 15062.8 15554.0 16177.8 17408.5 21

22 FL153165105 One-to-four-family residential mortgages (7) 9437.0 9387.3 9492.8 9658.8 9928.8 10204.4 10475.1 10916.1 11751.1 22

23 FL153166000 Consumer credit 3090.5 3309.5 3400.2 3636.4 3830.8 4007.0 4192.2 4184.9 4430.8 23

24 FL193168005 Depository institution loans n.e.c. 161.4 172.4 217.2 223.4 225.7 270.4 281.4 302.6 356.7 24

25 FL193169005 Other loans and advances 700.2 629.5 558.7 545.3 610.5 580.9 605.2 774.2 869.8 25

26 FL543077073 Deferred and unpaid life insurance premiums 28.7 29.9 31.6 31.3 33.1 35.0 36.5 36.6 38.1 26

27 FL192090005 Net worth 75914.2 81668.4 84493.7 89102.7 97278.2 97948.5 109904.3 124174.3 142137.9 27

 Memo:

 Reconciliation with household and

 nonprofit organization sector net worth: (8)

28 FL152090005 Household and nonprofit net worth (B.101, line 40) 80648.6 86761.5 89736.0 94726.6 103438.8 104041.1 116539.3 131344.3 150122.1 28

29 FL152000005 Household and nonprofit total assets (B.101, line 1) 94871.9 101131.1 104299.0 109707.9 118973.2 120041.0 133038.9 148465.6 168481.0 29

30 FL192000005 Household total assets (B.101.h, line 1) 89332.0 95197.1 98194.2 103198.0 111907.0 113046.3 125494.8 140388.7 159584.4 30

31 FL162000005 Nonprofit total assets (B.101.n, line 1) 6865.8 7316.7 7542.3 8059.2 8811.1 8678.7 9263.9 9832.7 10681.2 31

32 FL163093005 Less: Nonprofit misc. assets (B.101.n, line 19) 1410.5 1488.3 1536.1 1654.9 1845.1 1778.8 1828.2 1861.4 1881.5 32

33 FL153069803 Plus: Domestic hedge fund syndicated loans (9) 84.5 105.7 98.7 105.7 100.2 94.8 108.5 105.6 97.0 33

34 FL154190005 Less: Household and nonprofit liabilities (B.101, line 30) 14223.2 14369.6 14563.0 14981.3 15534.4 15999.9 16499.7 17121.3 18358.9 34

35 FL194190005 Household liabilities (B.101.h, line 20) 13417.8 13528.7 13700.6 14095.3 14628.8 15097.8 15590.5 16214.4 17446.5 35

36 FL164190005 Nonprofit liabilities (B.101.n, line 20) 1609.6 1723.3 1808.6 1833.3 1926.1 1912.6 1940.9 1966.0 1985.7 36

37 FL163193005 Less: Nonprofit misc. liabilities (B.101.n, line 27) 804.1 882.4 946.1 947.3 1020.4 1010.5 1031.7 1059.0 1073.4 37

(1) Table is based on table B.101 Balance Sheet of Households and Nonprofit Organizations, with adjustments to remove the assets and liabilities of nonprofit organizations, shown on table B.101.n.

(2) 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, at market value.

(3) At replacement (current) cost.

(4) Cash accounts at brokers and dealers.

(5) 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.

(6) Net worth of nonfinancial noncorporate business (table B.104, line 35) and owners’ equity in unincorporated security brokers and dealers.

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

(8) Some financial asset and liability items shown on the supplemental balance sheet of nonprofit organizations (table B.101.n) are not included on the balance sheet of the household and nonprofit

 organization sector (table B.101). Therefore, some adjustments are necessary to reconcile the combined assets and liabilities of the household sector (table B.101.h) and nonprofit organization sector

 (table B.101.n) with the household and nonprofit organization sector’s (table B.101) in the core Financial Accounts.

(9) Syndicated loans included in household and nonprofit organizations’ other loans and advances (table B.101, line 20) but assumed to be held by domestic hedge funds.
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B.101.n Balance Sheet of Nonprofit Organizations (1)

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

2013 2014 2015 2016 2017 2018 2019 2020 2021

 

 1 FL162000005 Total assets 6865.8 7316.7 7542.3 8059.2 8811.1 8678.7 9263.9 9832.7 10681.2 1

 2 FL162010005 Nonfinancial assets 2869.1 3111.2 3314.0 3525.9 3762.4 3853.2 4153.1 4450.0 5102.4 2

 3 FL165035005 Real estate (2) 2377.6 2594.7 2772.7 2957.2 3166.1 3227.0 3498.5 3760.3 4366.4 3

 4 FL165015205 Equipment (3) 346.1 364.1 383.8 401.9 419.0 439.3 459.8 482.2 517.4 4

 5 FL165013765 Intellectual property products (3) 145.4 152.4 157.5 166.8 177.2 186.9 194.7 207.5 218.6 5

 6 FL164090005 Financial assets 3996.7 4205.5 4228.3 4533.3 5048.7 4825.4 5110.8 5382.7 5578.7 6

 7 FL163020005 Cash and non-interest-bearing deposits 121.8 134.9 146.4 157.9 168.7 164.7 168.2 170.4 172.0 7

 8 FL163030205 Other deposits and short-term investments (4) 257.5 257.5 251.0 253.0 276.8 276.1 273.8 261.7 268.1 8

 9 FL163034003 Money market fund shares 58.5 69.2 74.6 85.8 87.0 96.7 114.1 140.9 148.3 9

10 LM164022005 Debt securities 254.6 282.2 282.4 295.5 320.9 350.0 382.3 414.9 437.8 10

11 LM163061005 U.S. government and municipal securities (5) 86.2 110.9 109.0 107.6 120.3 147.2 166.0 187.4 206.5 11

12 LM163063005 Corporate and foreign bonds 168.5 171.3 173.3 188.0 200.5 202.8 216.3 227.5 231.3 12

13 FL164023005 Loans 185.8 179.9 183.1 178.6 179.5 171.5 167.9 164.6 162.3 13

14 FL163065013 Mortgages 0.8 1.1 0.8 1.2 0.8 0.9 1.2 1.2 1.3 14

15 FL163066223 Consumer credit 51.8 47.6 44.9 41.3 35.2 31.3 27.3 24.1 22.4 15

16 FL163069005 Other loans and advances 133.2 131.2 137.4 136.1 143.5 139.3 139.4 139.3 138.6 16

17 LM163064005 Corporate equities and mutual fund shares 1494.7 1552.6 1513.8 1663.3 1910.4 1721.9 1901.9 2051.5 2207.0 17

18 FL163070005 Grants and trade receivables 213.2 240.7 241.0 244.2 260.2 265.8 274.4 283.3 291.5 18

19 FL163090005 Miscellaneous assets 1410.5 1488.3 1536.1 1654.9 1845.1 1778.8 1828.2 1895.5 1891.7 19

20 FL163072003 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34.1 10.2 20

21 FL163093005 Other (6) 1410.5 1488.3 1536.1 1654.9 1845.1 1778.8 1828.2 1861.4 1881.5 21

22 FL164190005 Liabilities 1609.6 1723.3 1808.6 1833.3 1926.1 1912.6 1940.9 1966.0 1985.7 22

23 FL163162003 Debt securities (municipal securities) 233.8 227.2 219.0 215.8 216.9 214.5 211.6 201.7 200.1 23

24 FL164123005 Loans 276.2 291.7 302.2 320.8 332.8 324.7 327.7 328.6 328.6 24

25 FL163165505 Commercial mortgages 221.7 228.3 238.8 252.9 259.4 256.1 259.0 260.4 261.5 25

26 FL163168005 Depository institution loans n.e.c. 54.6 63.3 63.4 67.9 73.4 68.6 68.8 68.1 67.1 26

27 FL163169005 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FL163170005 Trade payables 295.4 322.1 341.3 349.5 355.9 362.9 369.9 376.7 383.7 28

29 FL163193005 Miscellaneous liabilities (7) 804.1 882.4 946.1 947.3 1020.4 1010.5 1031.7 1059.0 1073.4 29

30 FL162090005 Net worth 5256.3 5593.3 5733.7 6225.9 6885.1 6766.1 7323.0 7866.7 8695.5 30

 Memo:

31 FL164090015 Total financial assets of private foundations 743.1 784.9 786.2 840.7 948.0 930.0 1010.4 1084.5 1156.6 31

32 FL164090025 Total financial assets of 501(c) organizations 3253.6 3420.6 3442.1 3692.5 4100.8 3895.4 4100.4 4264.1 4411.9 32

(1) Includes private foundations, including charitable trusts, and organizations that are tax-exempt under Sections 501(c)(3) through 501(c)(9) of the Internal Revenue Code. Does not include religious

 organizations or organizations with less than $25,000 in gross annual receipts. Most financial asset and liability information from annual tax data available with a lag; recent values estimated

 by staff.

(2) Residential and nonresidential real estate at market value.

(3) At replacement (current) cost.

(4) Includes interest-bearing checking and savings accounts, deposits in transit, commercial paper, certificates of deposit, and U.S. Treasury bills or other governmental obligations that mature

 in one year or less.

(5) Excludes the short-term debt securities included in line 16.

(6) Includes pledges receivable, receivables from officers and disqualified persons, prepaid expenses and deferred charges, other investments, and other financial assets. Not included on table B.101.

(7) Not included on table B.101.
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B.101.e Balance Sheet of Households and Nonprofit Organizations with Debt and Equity Holdings Detail

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL152000005 Assets 148465.6 168481.0 153538.7 159818.0 163274.6 168481.0 168507.6 162584.6 162512.8 1

 2 FL152010005 Nonfinancial assets 43580.9 50337.4 44957.3 46813.0 48629.2 50337.4 52174.4 53809.3 54791.9 2

 3 FL154090005 Financial assets 104884.7 118143.6 108581.4 113005.1 114645.4 118143.6 116333.2 108775.3 107720.9 3

 4 FL154000025 Deposits (1) 16351.2 18347.6 17366.3 17532.4 17718.9 18347.6 18542.5 18422.8 18409.4 4

 5 LM154022375 Debt securities at market value 9720.1 9016.7 9141.0 9149.0 9150.9 9016.7 9104.8 8923.9 9352.5 5

 6 LM154022005 Directly held 3936.8 2883.4 3338.8 3192.3 3294.8 2883.4 3305.2 3594.1 4305.9 6

 7 LM154022075 Indirectly held 5783.3 6133.3 5802.1 5956.7 5856.1 6133.3 5799.5 5329.8 5046.6 7

 8 LM544022053 Life insurance companies 479.5 487.3 475.0 488.5 487.6 487.3 453.4 411.9 388.1 8

 9 LM574022075 Private pension funds (2) 1804.1 1866.3 1785.9 1838.6 1855.4 1866.3 1768.9 1656.8 1581.7 9

10 LM344022025 Federal govt. retirement funds (2) 331.8 322.7 328.8 331.7 152.3 322.7 347.4 349.4 344.2 10

11 LM223064223 State and local govt. retirement funds (2) 64.3 69.6 65.0 67.0 68.2 69.6 65.4 58.8 55.3 11

12 LM654022055 Mutual funds 3103.5 3387.4 3147.4 3230.9 3292.7 3387.4 3164.4 2852.9 2677.4 12

13 FL154023005 Loans 1254.3 1350.7 1267.8 1283.9 1334.8 1350.7 1481.5 1425.6 1368.7 13

14 LM153064475 Equity shares at market value 40970.5 49402.1 43695.4 47005.9 47040.4 49402.1 46617.4 38680.6 36737.2 14

15 LM153064105 Directly held 26122.9 31940.7 28161.1 30468.1 30740.8 31940.7 30545.3 25424.0 24328.6 15

16 LM153064175 Indirectly held 14847.5 17461.4 15534.4 16537.9 16299.6 17461.4 16072.1 13256.6 12408.7 16

17 LM543064153 Life insurance companies 1634.5 1754.2 1661.1 1752.7 1691.4 1754.2 1593.8 1315.8 1227.0 17

18 LM573064175 Private pension funds (2) 5152.4 6097.7 5402.6 5776.2 5704.8 6097.7 5687.3 4737.9 4467.6 18

19 LM343064125 Federal govt. retirement funds (2) 402.8 504.2 432.7 470.4 464.6 504.2 466.7 393.3 369.8 19

20 LM223064213 State and local govt. retirement funds (2) 155.4 183.3 162.6 173.4 171.3 183.3 168.6 137.6 128.3 20

21 LM653064155 Mutual funds 7502.4 8922.0 7875.5 8365.1 8267.6 8922.0 8155.8 6672.1 6216.0 21

22 FL153099475 Other 36588.7 40026.5 37110.9 38033.9 39400.4 40026.5 40586.9 41322.4 41853.1 22

23 FL154190005 Liabilities 17121.3 18358.9 17319.1 17659.2 17968.7 18358.9 18553.8 18914.2 19234.4 23

24 FL152090005 Net worth 131344.3 150122.1 136219.6 142158.8 145305.9 150122.1 149953.8 143670.4 143278.4 24

 Memo:

 Debt securities (line 5) as a percent of

25 FL154022376 Total assets (line 1) 6.55 5.35 5.95 5.72 5.60 5.35 5.40 5.49 5.75 25

26 FL154022386 Financial assets (line 3) 9.27 7.63 8.42 8.10 7.98 7.63 7.83 8.20 8.68 26

 Equity shares (line 14) as a percent of

27 FL153064476 Total assets (line 1) 27.60 29.32 28.46 29.41 28.81 29.32 27.66 23.79 22.61 27

28 FL153064486 Financial assets (line 3) 39.06 41.82 40.24 41.60 41.03 41.82 40.07 35.56 34.10 28

(1) Includes foreign deposits, checkable deposits and currency, time and savings deposits, and money market fund shares.

(2) 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 22.
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B.101.f Balance Sheet of Domestic Hedge Funds (1)

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL622000623 Assets 2411.5 2754.2 2474.2 2582.0 2621.5 2754.2 2762.2 2665.5 ND 1

 2 FL625035003 Nonfinancial assets (real estate) 95.4 142.7 106.9 113.7 127.4 142.7 154.2 163.1 ND 2

 3 FL624090005 Financial assets 2316.1 2611.5 2367.3 2468.4 2494.1 2611.5 2608.0 2502.4 ND 3

 4 FL623091003 Foreign currency 21.7 23.5 22.7 21.5 21.3 23.5 23.8 24.4 ND 4

 5 FL623039003 Deposits 36.4 43.4 37.4 40.4 42.1 43.4 42.1 41.4 ND 5

 6 FL623039013 Other cash and cash equivalents 91.6 113.1 96.3 137.0 95.5 113.1 134.9 104.5 ND 6

 7 FL623034003 Money market fund shares 80.5 94.6 81.5 81.6 88.5 94.6 85.4 98.0 ND 7

 8 FL622051003 Security repurchase agreements 72.1 97.0 77.3 81.5 88.3 97.0 93.1 97.6 ND 8

 9 LM624022005 Debt securities 619.3 662.1 595.6 602.2 632.9 662.1 678.7 677.8 ND 9

10 LM623061103 Treasury securities 150.2 164.5 137.9 144.8 151.3 164.5 187.6 196.0 ND 10

11 LM623061703 Agency- and GSE-backed securities 12.0 8.5 11.3 8.9 10.0 8.5 8.5 10.6 ND 11

12 LM623062003 Municipal securities 13.3 15.4 13.6 13.9 15.2 15.4 14.0 13.3 ND 12

13 LM623063003 Corporate and foreign bonds 443.7 473.6 432.8 434.7 456.4 473.6 468.5 457.9 ND 13

14 FL623069005 Loans 144.0 180.7 153.0 151.6 161.4 180.7 188.6 201.9 ND 14

15 FL623069503 Leveraged loans 100.7 122.2 107.4 108.1 113.1 122.2 128.4 133.9 ND 15

16 FL623069003 Other loans 43.2 58.5 45.6 43.5 48.4 58.5 60.2 68.0 ND 16

17 LM623064103 Corporate equities 1018.7 1140.5 1070.9 1133.6 1085.9 1140.5 1074.8 955.0 ND 17

18 LM623064203 Mutual fund shares 13.0 11.8 13.2 12.9 12.1 11.8 12.2 11.9 ND 18

19 FL623093005 Miscellaneous assets 219.0 244.8 219.6 206.1 266.1 244.8 274.3 290.0 ND 19

20 FL624190005 Liabilities 702.8 834.5 711.1 754.0 763.1 834.5 829.1 804.2 ND 20

21 FL622151005 Security repurchase agreements 71.0 70.1 62.2 61.2 63.5 70.1 64.8 69.4 ND 21

22 FL622151013 Domestic institutions 45.8 43.3 38.2 39.5 41.6 43.3 43.2 45.9 ND 22

23 FL622151063 Foreign institutions 25.3 26.8 24.0 21.7 21.9 26.8 21.5 23.5 ND 23

24 FL624123005 Loans 480.4 645.3 511.7 628.0 598.7 645.3 635.2 591.5 ND 24

25 FL624123035 Secured borrowing via prime brokerage 388.7 485.0 413.9 515.4 471.6 485.0 477.6 423.0 ND 25

26 FL623167003 From domestic institutions 344.4 423.8 351.9 449.4 407.2 423.8 421.4 374.6 ND 26

27 FL623169533 From foreign institutions 44.4 61.2 62.0 66.0 64.4 61.2 56.3 48.4 ND 27

28 FL624123015 Other secured borowing 83.2 138.6 89.5 102.4 113.3 138.6 139.1 149.8 ND 28

29 FL623168013 From domestic institutions 64.2 104.6 67.8 75.8 84.0 104.6 106.1 117.4 ND 29

30 FL623169513 From foreign institutions 19.0 34.0 21.8 26.6 29.3 34.0 33.1 32.4 ND 30

31 FL623168023 Unsecured borrowing 8.5 21.7 8.3 10.2 13.8 21.7 18.4 18.7 ND 31

32 FL623193005 Miscellaneous liabilities 151.4 119.0 137.2 64.8 100.9 119.0 129.1 143.3 ND 32

 Memo:

33 FL622000003 Total net assets 1708.7 1919.7 1763.1 1828.0 1858.4 1919.7 1933.1 1861.3 ND 33

34 FL623098003 Derivatives (2) 957.1 1097.5 1037.7 1076.7 1052.4 1097.5 1098.7 1075.9 ND 34

(1) Data begin 2012:Q4. Includes only hedge funds domiciled in the United States as reported on SEC forms ADV and PF.

(2) Long exposure of derivatives.
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F.4.g Gross Fixed Investment (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA885019005 Gross fixed investment (by type) 4489.3 4939.6 4802.1 4899.9 4974.4 5082.0 5242.9 5303.5 5363.6 1

 2 FA885019065 Structures 1874.6 2060.1 2008.1 2038.8 2073.1 2120.3 2179.8 2171.1 2138.1 2

 3 FA885019025 Equipment 1217.5 1349.0 1321.5 1344.6 1352.0 1377.9 1434.7 1457.2 1511.3 3

 4 FA885013075 Intellectual Property Products 1354.1 1499.1 1441.1 1485.0 1517.8 1552.4 1597.0 1643.8 1682.8 4

 5 FA885013035 Software 527.5 584.7 562.6 582.0 593.6 600.5 621.4 637.0 659.4 5

 6 FA885013045 Research and development 738.6 823.9 793.4 815.6 832.1 854.4 875.0 898.1 908.7 6

 7 FA835013051 Entertainment, literary, and artistic originals 88.0 90.5 85.1 87.4 92.1 97.5 100.6 108.7 114.7 7

 8 FA105013893 Miscellaneous adjustments (2) 43.0 31.3 31.3 31.3 31.3 31.3 31.3 31.3 31.3 8

 9 FA885019005 Gross fixed investment (by sector) 4489.3 4939.6 4802.1 4899.9 4974.4 5082.0 5242.9 5303.5 5363.6 9

10 FA155019005 Households and nonprofit organizations 955.7 1146.4 1120.4 1120.9 1147.5 1196.6 1235.8 1204.4 1150.0 10

11 FA105019085 Nonfinancial corporate business (3) 2001.0 2171.3 2076.4 2164.6 2205.0 2239.2 2323.6 2400.4 2478.2 11

12 FA115019085 Nonfinancial noncorporate business 444.9 491.8 484.1 489.5 491.3 502.4 521.7 523.8 523.1 12

13 FA315019001 Federal government 351.0 362.4 356.3 359.0 365.0 369.1 369.6 374.4 378.9 13

14 FA215019001 State and local governments 439.6 444.6 441.7 438.0 445.1 453.8 459.7 464.5 484.8 14

15 FA795013005 Domestic financial sectors (4) 297.2 323.1 323.2 327.8 320.5 320.9 332.5 335.9 348.6 15

16 FA715013005 Monetary authority 0.9 0.9 0.9 0.9 1.0 1.0 1.0 1.0 1.1 16

17 FA705013005 Private depository institutions 70.8 76.8 84.5 82.5 72.0 68.3 70.3 68.3 71.7 17

18 FA765013005 U.S.-chartered depository institutions 53.6 57.6 65.8 63.3 52.6 48.5 49.8 47.4 50.1 18

19 FA755013005 Foreign banking offices in U.S. 8.2 9.3 9.1 9.3 9.4 9.6 9.9 10.1 10.5 19

20 FA745013005 Banks in U.S.-affiliated areas 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 20

21 FA475013005 Credit unions 8.7 9.7 9.4 9.7 9.8 9.9 10.3 10.5 10.9 21

22 FA515013005 Property-casualty insurance companies 36.0 40.1 38.8 40.0 40.6 41.2 42.7 43.7 45.2 22

23 FA545013005 Life insurance companies 28.6 32.2 31.1 32.1 32.6 33.2 34.3 35.2 36.2 23

24 FA575013005 Private pension funds 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 24

25 FA225013005 State and local government employee retirement funds 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 25

26 FA405013005 Government-sponsored enterprises 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 26

27 FA675013025 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FA615013005 Finance companies 59.1 63.8 62.2 63.7 64.1 65.4 68.3 69.5 72.1 28

29 FA125013005 REITs (3) 14.7 15.4 15.1 15.3 15.5 15.7 16.2 16.4 16.9 29

30 FA665013005 Security brokers and dealers 46.4 49.6 48.1 49.4 50.2 51.0 52.8 53.9 55.7 30

31 FA735013005 Holding companies 39.6 42.9 41.5 42.8 43.4 44.1 45.7 46.7 48.4 31

 Memo:

32 FA125012063 REITs residential structures (3) 2.8 7.6 1.9 11.1 6.6 10.9 2.5 5.0 -0.2 32

33 FA155111003 Consumer durable goods (5) 1550.3 1918.6 1854.0 1968.2 1895.1 1957.1 2033.7 2031.7 2047.4 33

34 FA145020005 Inventories (6) -55.8 -19.1 -101.8 -159.4 -55.2 240.0 257.4 145.4 84.9 34

(1) Private gross fixed investment is from BEA, NIPA table 5.2.5. Structures is from BEA, NIPA table 5.4.5. Equipment is from BEA, NIPA table 5.5.5. Intellectual Property Products

 is from BEA, NIPA table 5.6.5. Government gross fixed investment is from BEA, NIPA table 3.9.5.

(2) Calculated as the difference between gross fixed investment in BEA’s NIPA and gross fixed investment in BEA’s fixed assets accounts (FAA); the latter are used to to estimate

 stocks of fixed assets for balance sheets. For the minor definitional differences between the two estimates of gross fixed investment, see the

 BEA FAA web page https://apps.bea.gov/iTable/index_FA.cfm.

(3) Equity REIT gross investment in residential structures is included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the

 Financial Accounts, equity REIT investment in residential structures is included with the financial business sector.

(4) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(5) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, however, consumer durables are included in household

 sector fixed investment (table F.101, line 14).

(6) Inventories are not included above but are part of nonfinancial business gross investment (table F.4, lines 25 and 26).
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F.4.c Consumption of Fixed Capital

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA886300095 Consumption of fixed capital (by type) 3577.8 3831.6 3690.5 3775.4 3875.7 3984.9 4113.6 4242.1 4357.6 1

 2 FA886300065 Structures 1279.0 1388.9 1335.2 1367.8 1405.5 1447.1 1496.0 1544.2 1587.1 2

 3 FA886300025 Equipment 1154.6 1207.2 1163.9 1189.8 1220.9 1254.4 1294.3 1334.5 1370.9 3

 4 FA886330075 Intellectual Property Products 1144.4 1236.7 1192.7 1219.0 1250.6 1284.7 1324.6 1364.8 1401.0 4

 5 FA886330035 Software 460.0 498.5 480.2 491.2 504.3 518.5 535.0 551.7 566.7 5

 6 FA886330045 Research and development 601.0 651.4 628.9 642.3 658.4 675.8 696.2 716.9 735.2 6

 7 FA836330053 Entertainment, literary, and artistic originals 83.4 86.9 83.6 85.5 87.9 90.4 93.4 96.3 99.1 7

 8 FA886300095 Consumption of fixed capital (by sector) 3577.8 3831.6 3690.5 3775.4 3875.7 3984.9 4113.6 4242.1 4357.6 8

 9 FA156300003 Households and nonprofit organizations 630.9 704.5 668.8 692.7 717.9 738.6 770.2 794.6 814.5 9

10 FA106300003 Nonfinancial corporate business (1) 1709.3 1801.3 1745.0 1776.0 1816.9 1867.2 1921.6 1982.0 2040.2 10

11 FA116300001 Nonfinancial noncorporate business 364.8 392.7 376.4 386.0 397.7 410.7 425.7 439.0 450.6 11

12 FA316300001 Federal government 304.7 322.7 314.8 319.5 325.1 331.2 338.3 345.6 351.2 12

13 FA216300001 State and local governments 301.2 324.4 311.3 319.9 328.0 338.5 352.9 365.5 375.2 13

14 FA796300081 Domestic financial sectors (2) 266.8 286.0 274.1 281.2 289.9 298.7 305.0 315.3 325.8 14

15 FA716330005 Monetary authority 0.8 0.9 0.9 0.9 0.9 0.9 1.0 1.0 1.0 15

16 FA706330005 Private depository institutions 56.5 61.5 59.0 60.6 62.4 64.2 65.6 68.4 71.2 16

17 FA766330005 U.S.-chartered depository institutions 42.8 46.2 44.3 45.4 46.8 48.1 49.2 51.5 53.7 17

18 FA756330005 Foreign banking offices in U.S. 6.6 7.5 7.1 7.3 7.6 7.8 8.0 8.2 8.5 18

19 FA746330005 Banks in U.S.-affiliated areas 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 19

20 FA476330005 Credit unions 6.9 7.8 7.4 7.6 7.9 8.1 8.3 8.5 8.8 20

21 FA516330005 Property-casualty insurance companies 29.1 32.6 31.2 32.1 33.0 34.1 34.8 35.9 37.0 21

22 FA546330005 Life insurance companies 22.2 25.1 24.0 24.7 25.4 26.2 26.8 27.6 28.5 22

23 FA576330005 Private pension funds 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 23

24 FA226330005 State and local government employee retirement funds 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 24

25 FA406330005 Government-sponsored enterprises 0.5 0.6 0.5 0.6 0.6 0.6 0.6 0.6 0.6 25

26 FA676330023 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 FA616330005 Finance companies 77.0 77.6 74.4 76.3 78.7 81.1 82.8 85.4 88.1 27

28 FA126330005 REITs (1) 7.7 8.5 8.2 8.4 8.6 8.9 9.1 9.4 9.7 28

29 FA666330005 Security brokers and dealers 30.3 34.9 33.5 34.4 35.4 36.5 37.3 38.4 39.7 29

30 FA736330005 Holding companies 41.9 43.5 41.7 42.8 44.1 45.4 46.4 47.8 49.3 30

 Memo:

31 FA156300103 Consumer durable goods (3) 1212.8 1363.8 1293.9 1321.1 1393.7 1446.4 1480.7 1531.1 1558.0 31

(1) Equity REIT residential structure consumption of fixed capital is included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the

 Financial Accounts, equity REIT residential structure consumption of fixed capital is included with the financial business sector.

(2) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(3) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household

 sector capital expenditures.
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F.4.f Net Fixed Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FA885015005 Net fixed investment (by type) 911.5 1108.0 1111.6 1124.5 1098.7 1097.2 1129.3 1061.4 1006.0 1

 2 FA885019665 Structures 595.6 671.2 672.9 671.0 667.7 673.2 683.8 626.9 551.0 2

 3 FA885019265 Equipment 62.9 141.8 157.6 154.8 131.1 123.6 140.4 122.7 140.4 3

 4 FA885013765 Intellectual Property Products 209.7 262.3 248.4 266.0 267.2 267.7 272.4 279.0 281.8 4

 5 FA885013365 Software 67.5 86.2 82.4 90.9 89.3 82.0 86.4 85.4 92.7 5

 6 FA885013465 Research and development 137.6 172.5 164.5 173.2 173.7 178.6 178.8 181.3 173.4 6

 7 FA835013565 Entertainment, literary, and artistic originals 4.5 3.7 1.5 1.9 4.2 7.1 7.2 12.3 15.6 7

 8 FA105013893 Miscellaneous adjustments (1) 43.0 31.3 31.3 31.3 31.3 31.3 31.3 31.3 31.3 8

 9 FA885015005 Net fixed investment (by sector) 911.5 1108.0 1111.6 1124.5 1098.7 1097.2 1129.3 1061.4 1006.0 9

10 FA155015005 Households and nonprofit organizations 324.8 441.9 451.6 428.2 429.6 458.1 465.6 409.8 335.5 10

11 FA105015085 Nonfinancial corporate business (2) 291.8 370.0 331.3 388.6 388.1 372.0 402.0 418.4 438.0 11

12 FA115015005 Nonfinancial noncorporate business 80.0 99.1 107.7 103.5 93.5 91.8 96.0 84.8 72.5 12

13 FA315015005 Federal government 46.2 39.7 41.5 39.5 39.9 37.9 31.3 28.8 27.7 13

14 FA215015005 State and local governments 138.4 120.2 130.4 118.1 117.0 115.2 106.8 98.9 109.6 14

15 FA795015085 Domestic financial sectors (3) 30.3 37.1 49.1 46.6 30.6 22.2 27.6 20.6 22.7 15

16 FA715013865 Monetary authority 0.0 0.0 0.1 0.1 0.0 0.0 0.0 0.0 0.0 16

17 FA705013865 Private depository institutions 14.3 15.3 25.5 22.0 9.6 4.1 4.7 -0.1 0.5 17

18 FA765013865 U.S.-chartered depository institutions 10.7 11.4 21.5 17.9 5.7 0.4 0.6 -4.1 -3.6 18

19 FA755013865 Foreign banking offices in U.S. 1.7 1.9 1.9 2.0 1.9 1.8 2.0 1.9 2.0 19

20 FA745013865 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 FA475013865 Credit unions 1.8 1.9 2.0 2.0 1.9 1.8 2.0 2.0 2.1 21

22 FA515013865 Property-casualty insurance companies 6.9 7.5 7.5 7.9 7.6 7.1 7.9 7.8 8.2 22

23 FA545013865 Life insurance companies 6.4 7.2 7.1 7.4 7.2 7.0 7.6 7.6 7.8 23

24 FA575013865 Private pension funds -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

25 FA225013865 State and local government employee retirement funds -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 25

26 FA405013865 Government-sponsored enterprises -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 26

27 FA675013263 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

28 FA615013865 Finance companies -17.9 -13.8 -12.2 -12.7 -14.6 -15.7 -14.6 -15.9 -15.9 28

29 FA125013865 REITs (2) 7.0 6.9 6.9 7.0 6.8 6.8 7.2 7.0 7.3 29

30 FA665013865 Security brokers and dealers 16.1 14.7 14.6 15.1 14.7 14.4 15.5 15.5 16.0 30

31 FA735013865 Holding companies -2.3 -0.6 -0.2 0.0 -0.6 -1.4 -0.7 -1.1 -1.0 31

 Memo:

32 FA125012665 REITs residential structures (2) -0.4 5.2 -1.2 8.0 3.0 10.8 -1.9 2.2 -2.3 32

33 FA155111005 Consumer durable goods (4) 337.5 554.8 560.1 647.1 501.3 510.7 553.0 500.7 489.4 33

(1) Included in nonfinancial corporate business sector gross fixed investment, line 11.

(2) Equity REIT net investment in residential structures is included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the

 Financial Accounts, equity REIT investment in residential structures is included with the financial business sector.

(3) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(4) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household sector

 capital expenditures.
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L.4.s Net Stocks of Fixed Assets, current cost

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

2020 2021 2021 2022

 Q1 Q2 Q3 Q4 Q1 Q2 Q3

 1 FL885019865 Net stocks (by type) 68369.7 77852.3 70130.3 72398.9 74822.2 77852.3 81149.4 84456.7 87102.5 1

 2 FL885019665 Structures 54638.4 63060.6 56151.1 58280.8 60396.2 63060.6 65948.7 68794.3 71066.6 2

 3 FL885019265 Equipment 8508.8 9182.0 8695.1 8738.3 8935.1 9182.0 9463.1 9777.7 10007.6 3

 4 FL885013765 Intellectual Property Products 5222.5 5609.7 5284.1 5379.7 5490.9 5609.7 5737.6 5884.7 6028.3 4

 5 FL885013365 Software 957.6 1033.2 961.7 988.4 1011.5 1033.2 1048.2 1072.0 1098.0 5

 6 FL885013465 Research and development 3700.8 3985.6 3752.0 3814.6 3894.7 3985.6 4087.8 4195.2 4303.5 6

 7 FL835013565 Entertainment, literary, and artistic originals 564.1 590.9 570.4 576.7 584.8 590.9 601.7 617.4 626.8 7

 8 FL885019865 Net stocks (by sector) 68369.7 77852.3 70130.3 72398.9 74822.2 77852.3 81149.4 84456.7 87102.5 8

 9 FL155015015 Households and nonprofit organizations 23058.1 27030.0 23910.6 24958.6 26011.1 27030.0 28308.1 29445.4 30158.2 9

10 FL105015085 Nonfinancial corporate business (1) 19020.1 21273.1 19349.4 19763.4 20339.6 21273.1 21982.5 22763.8 23568.2 10

11 FL115015005 Nonfinancial noncorporate business 7795.6 8829.5 7966.1 8202.1 8469.7 8829.5 9434.9 10042.2 10599.1 11

12 FL315015005 Federal government 3756.8 4034.8 3805.6 3882.6 3947.4 4034.8 4140.0 4255.8 4321.1 12

13 FL215015005 State and local governments 12556.9 14213.3 12873.6 13311.4 13698.3 14213.3 14733.4 15310.5 15722.0 13

14 FL795013865 Domestic financial sectors (2) 2182.1 2471.6 2225.0 2280.8 2356.1 2471.6 2550.4 2639.0 2733.8 14

15 FL715013865 Monetary authority 11.0 12.5 11.2 11.5 11.9 12.5 12.9 13.4 13.9 15

16 FL705013865 Private depository institutions 508.2 584.4 519.0 534.6 554.2 584.4 605.9 629.7 655.9 16

17 FL765013865 U.S.-chartered depository institutions 376.1 426.7 382.7 392.8 405.8 426.7 442.3 459.6 478.7 17

18 FL755013865 Foreign banking offices in U.S. 63.4 76.4 65.6 68.4 71.7 76.4 79.3 82.4 85.9 18

19 FL745013865 Banks in U.S.-affiliated areas 1.6 1.8 1.7 1.7 1.8 1.8 1.9 2.0 2.1 19

20 FL475013865 Credit unions 67.1 79.5 69.1 71.7 74.9 79.5 82.4 85.7 89.3 20

21 FL515013865 Property-casualty insurance companies 174.7 200.9 178.4 184.2 191.0 200.9 208.0 216.0 224.8 21

22 FL545013865 Life insurance companies 146.5 169.0 149.8 154.8 160.6 169.0 175.2 182.1 189.6 22

23 FL575013865 Private pension funds 2.3 2.2 2.2 2.2 2.2 2.2 2.2 2.3 2.4 23

24 FL225013865 State and local government employee retirement funds 6.5 7.7 6.7 6.9 7.3 7.7 8.0 8.3 8.7 24

25 FL405013865 Government-sponsored enterprises 3.5 3.8 3.5 3.6 3.7 3.8 3.9 4.0 4.1 25

26 FL675013263 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

27 FL615013865 Finance companies 488.6 519.1 495.8 496.7 505.9 519.1 526.5 535.7 542.2 27

28 FL125013865 REITs (1) 191.1 230.7 197.1 205.6 215.4 230.7 241.1 252.3 265.2 28

29 FL665013865 Security brokers and dealers 235.7 274.5 241.5 249.8 259.8 274.5 286.0 298.7 312.6 29

30 FL735013865 Holding companies 414.2 466.7 419.9 430.9 444.3 466.7 480.6 496.4 514.4 30

 Memo:

31 FL125012665 REITs residential structures (1) 203.4 206.7 202.4 202.6 204.2 206.7 208.8 209.7 208.5 31

32 FL155111005 Consumer durable goods (3) 6134.4 7121.6 6270.8 6626.1 6885.2 7121.6 7364.1 7493.6 7639.3 32

33 FL145020005 Inventories (4) 2912.5 3394.4 3045.7 3176.8 3239.9 3394.4 3611.7 3777.2 3745.9 33

(1) Equity REIT residential structures are included with the nonfinancial corporate business sector, consistent with their treatment in the NIPAs. In the Financial Accounts, equity REIT

 residential structures are included with the financial business sector.

(2) Domestic financial subsector detail, including REITs, are based on FRB staff estimates.

(3) Consumer durable goods are not included above, consistent with their treatment in the NIPAs. In Financial Accounts, consumer durables are included in household sector fixed investment

 (table B.101, line 8).

(4) Not included above.
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Billions of dollars

2014 2015 2016 2017 2018 2019 2020 2021

 

 1 FA896902505 Gross value added 17807.9 18440.5 18788.5 19592.6 20647.0 21486.5 21275.4 23444.0 1

 (income approach)

 2 FA886300091 Less: Consumption of fixed capital 2815.0 2911.4 2987.1 3118.7 3275.6 3436.6 3577.8 3831.6 2

 3 FA896902601 Equals: Net value added 14992.8 15529.1 15801.5 16473.9 17371.4 18049.9 17697.6 19612.4 3

 4 FA896025001 Compensation of employees (paid) 9259.7 9709.5 9977.1 10435.0 10968.2 11460.0 11600.6 12549.1 4

 5 FA896020001 Wages and salaries 7485.8 7869.6 8102.2 8485.0 8910.3 9336.5 9465.2 10300.8 5

 6 FA896401001 Employers’ social contributions 1773.9 1839.9 1874.9 1950.0 2057.9 2123.5 2135.4 2248.4 6

 7 FA896240101 Taxes on production and imports less subsidies 1182.7 1218.0 1249.9 1307.6 1398.1 1457.1 869.0 1181.5 7

 8 FA896402101 Operating surplus, net 4550.4 4601.6 4574.5 4731.3 5005.1 5132.8 5228.0 5881.8 8

 9 FA266904095 Plus: Income receipts from the rest of the world 881.6 860.8 893.5 1031.1 1138.7 1172.2 971.3 1087.0 9

10 FA266904195 Less: Income payments to the rest of the world 646.4 640.4 661.5 738.2 848.4 894.2 774.3 913.9 10

11 FA896140001 Equals: Net national income/Balance of primary incomes, net 15228.1 15749.5 16033.4 16766.8 17661.7 18327.9 17894.6 19785.5 11

12 FA896402101 Operating surplus, net 4550.4 4601.6 4574.5 4731.3 5005.1 5132.8 5228.0 5881.8 12

13 FA156025105 Compensation of employees (received) 9250.2 9699.4 9966.1 10424.4 10957.9 11448.1 11592.7 12538.5 13

14 FA156020101 Wages and salaries 7476.3 7859.5 8091.2 8474.4 8900.0 9324.6 9457.4 10290.1 14

15 FA156401101 Employers’ social contributions 1773.9 1839.9 1874.9 1950.0 2057.9 2123.5 2135.4 2248.4 15

16 FA896240001 Taxes on production and imports, receivable 1240.8 1275.2 1311.6 1367.4 1461.4 1530.0 1526.3 1663.4 16

17 FA366402015 Subsidies paid -58.1 -57.2 -61.7 -59.9 -63.3 -73.0 -657.3 -481.9 17

18 FA896150105 Property income (received) 6799.2 6964.5 7077.5 7601.7 8412.9 8640.4 8150.9 8252.6 18

19 FA896130101 Interest 3186.1 3307.1 3422.8 3663.0 3966.7 4224.2 3786.8 3549.0 19

20 FA896120105 Distributed income of corporations 3252.2 3321.5 3326.4 3538.2 4688.2 4224.1 4156.4 4317.3 20

21 FA896121101 Dividends 1649.3 1753.4 1759.3 1892.6 2966.6 2469.1 2368.1 2400.2 21

22 FA156122101 Withdrawals from income of quasi-corporations 1602.9 1568.2 1567.1 1645.6 1721.6 1755.0 1788.3 1917.1 22

23 FA893092201 Reinvested earnings on U.S. direct investment abroad 337.9 318.0 312.7 383.7 -261.4 171.9 190.4 366.8 23

24 FA896112101 Rents on land and natural resources 22.9 17.9 15.6 16.9 19.5 20.2 17.3 19.6 24

25 FA896150005 Less: Uses of property income (paid) 6554.5 6734.0 6834.6 7298.1 8112.3 8350.5 7946.1 8068.9 25

26 FA896130001 Interest 3346.3 3471.8 3599.7 3858.3 4186.7 4463.0 4011.6 3777.6 26

27 FA896120005 Distributed income of corporations 3090.6 3158.8 3140.7 3327.8 3787.2 3743.4 3836.7 4059.6 27

28 FA896121001 Dividends 1487.7 1590.6 1573.6 1682.2 2065.6 1988.4 2048.4 2142.5 28

29 FA896122001 Withdrawals from income of quasi-corporations 1602.9 1568.2 1567.1 1645.6 1721.6 1755.0 1788.3 1917.1 29

30 FA893192201 Reinvested earnings on foreign direct investment 94.6 85.6 78.5 95.1 118.9 123.9 80.5 212.1 30

31 FA896112001 Rents on land and natural resources 22.9 17.9 15.6 16.9 19.5 20.2 17.3 19.6 31

32 FA896140001 Net national income/Balance of primary incomes, net 15228.1 15749.5 16033.4 16766.8 17661.7 18327.9 17894.6 19785.5 32

33 FA896220001 Plus: Current taxes on income, wealth, etc. (received) 2201.1 2347.5 2347.5 2358.5 2386.0 2508.7 2540.2 3066.7 33

34 FA896220005 Less: Current taxes on income, wealth, etc. (paid) 2191.6 2336.2 2334.4 2346.0 2372.6 2495.8 2525.3 3049.9 34

35 FA896404105 Plus: Social benefits (received) 3657.4 3845.2 3961.6 4111.6 4293.4 4519.6 5642.0 6092.6 35

36 FA896404005 Less: Social contributions (paid) 3671.7 3860.3 3977.1 4128.2 4310.9 4538.3 5670.9 6118.4 36

37 FA896403105 Plus: Other current transfers (received) 746.6 801.9 829.6 825.0 862.0 886.9 1132.1 1394.5 37

38 FA896403005 Less: Other current transfers (paid) 843.2 916.9 956.7 948.6 996.4 1033.1 1280.0 1558.2 38

39 FA896012005 Equals: Disposable income, net 15126.7 15630.6 15904.0 16639.2 17523.3 18176.0 17732.7 19612.8 39

40 FA896901001 Less: Final consumption expenditures 14414.0 14872.5 15356.4 15960.2 16771.9 17401.5 17254.5 19256.3 40

41 FA896006001 Equals: Net saving 712.7 758.2 547.7 679.0 751.4 774.5 478.1 356.5 41

 Addendum:

42 FA896902505 Gross value added (line 1) 17807.9 18440.5 18788.5 19592.6 20647.0 21486.5 21275.4 23444.0 42

43 FA087005995 Plus statistical discrepancy (NIPA) -257.2 -234.5 -93.4 -115.3 -114.0 -105.5 -214.9 -128.9 43

44 FA086902005 Equals: GDP (NIPA, expenditure approach) 17550.7 18206.0 18695.1 19477.3 20533.1 21381.0 21060.5 23315.1 44

45 FA086902203 Average of GDP and GDI 17679.3 18323.3 18741.8 19535.0 20590.1 21433.7 21167.9 23379.6 45

46 FA087005086 Statistical discrepancy as a percentage of GDP -1.47 -1.29 -0.50 -0.59 -0.56 -0.49 -1.02 -0.55 46
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

2014 2015 2016 2017 2018 2019 2020 2021

 

 1 FA896902505 Gross value added 17807.9 18440.5 18788.5 19592.6 20647.0 21486.5 21275.4 23444.0 1

 2 FA156902505 Households and nonprofit institutions serving households 2182.9 2260.2 2344.1 2436.3 2552.5 2671.2 2768.3 2873.2 2

 3 FA116902505 Nonfinancial noncorporate business 3234.3 3296.0 3315.3 3488.1 3670.2 3792.9 3582.0 3890.0 3

 4 FA106902501 Nonfinancial corporate business 8785.5 9128.5 9238.2 9659.7 10188.6 10641.4 10351.0 11774.6 4

 5 FA796902505 Financial business 1308.7 1391.9 1480.9 1537.6 1663.4 1734.9 1827.5 2046.1 5

 6 FA316902505 Federal government 723.1 737.3 749.0 766.3 794.1 816.3 856.5 896.6 6

 7 FA216902505 State and local government 1573.5 1626.7 1661.1 1704.6 1778.2 1829.8 1890.1 1963.5 7

 8 FA896006001 Net saving 712.7 758.2 547.7 679.0 751.4 774.5 478.1 356.5 8

 9 FA156006005 Households and nonprofit institutions serving households 930.9 1034.9 987.8 1073.8 1180.3 1446.6 2992.3 2243.4 9

10 FA106012095 Nonfinancial corporate business 589.1 529.1 441.8 520.1 577.8 571.0 423.1 647.3 10

11 FA796012095 Financial business 28.0 -29.8 30.3 47.0 98.1 2.5 6.8 76.2 11

12 FA316006085 Federal government -597.4 -560.2 -667.6 -734.4 -907.3 -1052.2 -2957.4 -2835.3 12

13 FA216006095 State and local government -237.9 -215.8 -244.7 -227.4 -197.4 -193.4 13.3 224.9 13

 Net capital transfers

14 FA155440005 Households and nonprofit institutions serving households 9.3 21.5 14.7 -15.1 9.5 15.1 3.0 -42.1 14

15 FA115440005 Nonfinancial noncorporate business 0.0 0.0 0.0 -9.4 -3.0 0.0 0.0 -5.2 15

16 FA105440005 Nonfinancial corporate business -6.7 -3.2 2.6 200.8 -6.2 -12.4 13.6 -9.8 16

17 FA795440005 Financial business 10.0 0.0 1.8 76.6 16.9 0.0 0.0 22.7 17

18 FA315440005 Federal government 64.9 59.9 60.5 -164.5 60.6 79.0 73.3 121.0 18

19 FA215440005 State and local government -70.6 -69.8 -72.6 -72.4 -73.2 -74.9 -83.7 -83.1 19

20 FA265440005 Rest of the world -6.9 -8.4 -7.0 -16.0 -4.6 -6.8 -6.2 -3.5 20

21 FA885019005 Gross fixed capital formation 3562.8 3723.0 3808.7 4021.7 4295.1 4485.5 4489.3 4939.6 21

22 FA155019005 Households and nonprofit institutions serving households 633.6 706.6 768.1 825.5 868.0 886.5 955.7 1146.4 22

23 FA115019085 Nonfinancial noncorporate business 354.1 362.8 375.2 399.5 416.8 434.1 444.9 491.8 23

24 FA105019085 Nonfinancial corporate business 1753.8 1789.5 1766.2 1868.7 2017.4 2103.4 2001.0 2171.3 24

25 FA795013005 Financial business (nonresidential) 218.7 241.5 259.3 259.8 281.1 310.4 297.2 323.1 25

26 FA315019001 Federal government 263.8 266.6 268.8 279.9 300.0 320.6 351.0 362.4 26

27 FA215019001 State and local government 338.8 356.0 371.1 388.4 411.9 430.5 439.6 444.6 27

28 FA886300095 Consumption of fixed capital 2815.0 2911.4 2987.1 3118.7 3275.6 3436.6 3577.8 3831.6 28

29 FA156300003 Households and nonprofit institutions serving households 467.3 485.4 509.0 538.5 575.0 600.5 630.9 704.5 29

30 FA116300001 Nonfinancial noncorporate business 291.6 302.2 310.0 322.5 337.6 351.8 364.8 392.7 30

31 FA106300003 Nonfinancial corporate business 1349.2 1401.7 1430.2 1493.0 1562.5 1645.6 1709.3 1801.3 31

32 FA796300081 Financial business (nonresidential) 190.3 199.2 210.7 222.8 235.3 252.2 266.8 286.0 32

33 FA316300001 Federal government 270.2 271.5 270.7 275.9 285.0 293.9 304.7 322.7 33

34 FA216300001 State and local government 246.3 251.4 256.4 266.1 280.1 292.6 301.2 324.4 34

35 FA145020005 Change in inventories 84.0 136.8 36.3 32.2 59.1 72.8 -55.8 -19.1 35

36 FA115020005 Nonfinancial noncorporate business 9.6 19.9 1.7 1.2 3.1 -0.0 -11.6 -4.5 36

37 FA105020005 Nonfinancial corporate business 74.3 116.9 34.6 31.0 56.0 72.8 -44.2 -14.6 37

38 FA885000985 Net lending (+) or net borrowing (-) (capital account) -125.9 -198.5 -317.3 -272.1 -331.9 -354.0 -383.5 -736.0 38

39 FA155000905 Households and nonprofit institutions serving households 764.9 802.6 725.3 814.1 891.6 1159.5 2678.5 1857.9 39

40 FA115000905 Nonfinancial noncorporate business -72.1 -80.5 -66.9 -68.9 -79.2 -82.3 -68.4 -89.5 40

41 FA105000905 Nonfinancial corporate business 115.3 -1.8 61.4 -87.5 75.0 52.9 161.9 295.4 41

42 FA795000995 Financial business -10.4 -72.0 -20.1 -66.6 35.5 -55.7 -23.5 16.4 42

43 FA315000995 Federal government -653.2 -584.4 -717.3 -571.6 -982.1 -1155.4 -3074.0 -2987.1 43

44 FA215000995 State and local government -270.3 -262.4 -299.7 -291.6 -272.6 -273.1 -57.9 170.8 44

 Addendum:

45 FA087005995 Statistical discrepancy (NIPA) -257.2 -234.5 -93.4 -115.3 -114.0 -105.5 -214.9 -128.9 45

46 FA265000905 Rest of the world 383.0 433.0 410.7 387.4 445.8 459.5 598.5 865.0 46

47 FA885000005 Net lending (+) or net borrowing (-) (financial account) -160.0 364.1 -359.6 312.2 -141.3 760.6 -116.1 -354.2 47

48 FA155000005 Households and nonprofit institutions serving households 1184.4 1216.5 362.4 900.6 1015.8 1840.0 2996.1 1627.9 48

49 FA115000005 Nonfinancial noncorporate business -72.1 -80.5 -66.9 -68.9 -79.2 -82.3 -68.5 -89.5 49

50 FA105000005 Nonfinancial corporate business -342.9 -109.6 -77.5 204.3 -58.8 324.0 159.9 277.5 50

51 FA795000005 Financial business 28.8 8.6 248.0 -49.6 101.0 11.8 135.3 380.5 51

52 FA315000005 Federal government -732.8 -518.8 -677.0 -510.3 -957.0 -1113.0 -3297.5 -2723.8 52

53 FA215000005 State and local government -225.4 -152.1 -148.6 -163.9 -163.0 -219.9 -41.4 173.2 53

 Addendum:

54 FA265000005 Rest of the world 262.8 376.4 296.5 373.6 195.2 389.0 518.0 525.4 54

 Total other volume changes

55 FV158090185 Households and nonprofit institutions serving households 863.8 641.0 -53.1 351.2 359.1 1507.8 784.5 360.5 55

56 FV118090105 Nonfinancial noncorporate business 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 56

57 FV108090105 Nonfinancial corporate business -465.8 -211.4 -194.2 273.2 289.3 331.3 114.7 119.6 57

58 FV798090185 Financial business -78.1 64.4 342.0 -50.9 241.6 -226.8 251.8 455.4 58

59 FV318090185 Federal government -51.4 122.5 64.9 138.0 8.3 -38.1 -172.9 445.8 59

60 FV218090185 State and local government -69.4 3.2 75.2 65.5 34.7 105.1 6.7 -85.9 60

61 FV268090185 Rest of the world -181.7 -46.4 -89.7 -29.3 126.4 24.6 -30.4 -316.3 61

 Holding gains/losses

62 FR158200095 Households and nonprofit institutions serving households 4327.4 1320.1 4070.5 7272.1 -927.5 9558.9 11031.1 16131.9 62

63 FR118200005 Nonfinancial noncorporate business 0.0 -0.0 0.0 -9.4 -3.0 0.0 0.0 -5.2 63

64 FR108200005 Nonfinancial corporate business -2016.5 1033.3 -1442.0 -4040.4 2255.9 -7404.4 -8482.6 -7920.7 64

65 FR798200005 Financial business -84.2 -200.3 -754.5 -584.4 152.7 -406.7 501.6 -3037.9 65

66 FR318200005 Federal government 48.5 6.0 55.5 87.0 106.1 60.5 104.0 236.9 66

67 FR218200005 State and local government 334.5 -24.3 383.5 852.7 271.2 862.6 887.0 2354.5 67

68 FR265000005 Rest of the world 1415.1 128.2 415.0 -814.8 1263.6 1312.8 2415.8 2707.0 68
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Billions of dollars

2014 2015 2016 2017 2018 2019 2020 2021

 

 Change in net worth

69 FC152090005 Households and nonprofit institutions serving households 6112.9 2974.5 4990.6 8712.2 602.3 12498.2 14805.0 18777.9 69

70 FC112090095 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 70

71 FC102090095 Nonfinancial corporate business -1886.5 1354.1 -1197.1 -3448.0 3129.1 -6489.7 -7958.5 -7143.9 71

72 FC792090095 Financial business -144.3 -165.7 -384.0 -664.9 475.5 -631.0 760.2 -2528.9 72

73 FC312090095 Federal government -665.2 -491.7 -607.8 -344.9 -853.5 -1108.9 -3099.6 -2273.7 73

74 FC212090095 State and local government 97.8 -167.1 286.6 763.2 181.6 849.2 990.8 2576.6 74

75 FC262090095 Rest of the world 1616.4 514.8 736.0 -456.7 1835.9 1797.0 2983.9 3255.7 75

 Net worth

76 FL152090005 Households and nonprofit institutions serving households 86761.5 89736.0 94726.6 103438.8 104041.1 116539.3 131344.3 150122.1 76

77 FL112090095 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 77

78 FL102090095 Nonfinancial corporate business -10409.6 -9055.5 -10252.6 -13700.6 -10571.5 -17061.2 -25019.7 -32163.6 78

79 FL792090095 Financial business -388.0 -553.7 -937.6 -1602.5 -1127.1 -1758.1 -997.9 -3526.8 79

80 FL312090095 Federal government -11657.9 -12149.6 -12757.3 -13102.3 -13955.7 -15064.7 -18164.3 -20437.9 80

81 FL212090095 State and local government 5221.3 5054.1 5340.7 6104.0 6285.6 7134.8 8125.6 10702.2 81

82 FL262090095 Rest of the world 6792.4 7307.2 8043.3 7586.5 9422.5 11219.4 14203.3 17459.0 82
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Billions of dollars

2014 2015 2016 2017 2018 2019 2020 2021

 

 Current account

 1 FA156902505 Gross value added 2182.9 2260.2 2344.1 2436.3 2552.5 2671.2 2768.3 2873.2 1

 2 FA156300003 Less: Consumption of fixed capital 467.3 485.4 509.0 538.5 575.0 600.5 630.9 704.5 2

 3 FA156902605 Equals: Net value added 1715.6 1774.8 1835.1 1897.8 1977.5 2070.7 2137.4 2168.7 3

 4 FA156025005 Compensation paid by households and NPISHs 812.2 852.7 888.5 919.6 966.3 1012.1 1048.8 1094.1 4

 5 FA156020001 Wages and salaries 669.4 704.9 730.6 761.0 797.8 836.0 860.8 904.0 5

 6 FA156401001 Employers’ social contributions 142.8 147.8 157.8 158.6 168.5 176.1 188.0 190.1 6

 7 FA156240101 Taxes on production and imports less subsidies 168.9 174.4 181.3 188.0 196.9 208.1 215.6 227.5 7

 8 FA156402101 Operating surplus, net 734.5 747.6 765.3 790.2 814.4 850.5 873.1 847.1 8

 9 FA156140005 Net national income/Balance of primary incomes, net 13354.0 13947.8 14288.5 14994.2 15745.4 16526.9 16761.6 17941.7 9

10 FA156402101 Operating surplus, net 734.5 747.6 765.3 790.2 814.4 850.5 873.1 847.1 10

11 FA156025105 Compensation of employees (received) 9250.2 9699.4 9966.1 10424.4 10957.9 11448.1 11592.7 12538.5 11

12 FA156020101 Wages and salaries 7476.3 7859.5 8091.2 8474.4 8900.0 9324.6 9457.4 10290.1 12

13 FA156401101 Employers’ social contributions 1773.9 1839.9 1874.9 1950.0 2057.9 2123.5 2135.4 2248.4 13

14 FA156150105 Property income (received) 3894.4 4044.5 4111.2 4350.5 4585.3 4875.5 4885.4 5121.2 14

15 FA156130101 Interest 1338.3 1443.3 1466.7 1550.3 1610.3 1659.6 1648.9 1660.3 15

16 FA156120105 Distributed income of corporations 2556.1 2601.2 2644.6 2800.2 2975.0 3215.9 3236.4 3460.9 16

17 FA156121101 Dividends 953.2 1033.1 1077.4 1154.6 1253.4 1460.9 1448.1 1543.9 17

18 FA156122101 Withdrawals from income of quasi-corporations (1) 1602.9 1568.2 1567.1 1645.6 1721.6 1755.0 1788.3 1917.1 18

19 FA156130001 Less: Uses of property income (interest paid) 525.2 543.8 554.1 570.9 612.2 647.2 589.5 565.2 19

20 FA156140005 Net national income/Balance of primary incomes, net 13354.0 13947.8 14288.5 14994.2 15745.4 16526.9 16761.6 17941.7 20

21 FA156220001 Less: Current taxes on income, wealth, etc. (paid) 1784.6 1939.9 1958.2 2048.6 2074.9 2198.4 2236.4 2661.7 21

22 FA156404105 Plus: Social benefits (received) 2498.6 2635.1 2717.3 2807.4 2926.5 3089.7 4187.1 4546.4 22

23 FA156600001 Less: Social contributions (paid) 1153.6 1204.7 1238.8 1298.9 1361.6 1424.6 1450.0 1540.8 23

24 FA156403101 Plus: Other current transfers (received) 42.9 50.3 59.7 48.3 50.1 55.1 44.1 71.0 24

25 FA156403001 Less: Other current transfers (paid) 178.8 190.1 187.4 194.9 200.2 209.4 197.9 210.5 25

26 FA156012095 Equals: Disposable income, net 12778.6 13298.3 13681.1 14307.4 15085.3 15839.4 17108.5 18145.9 26

27 FA156901001 Less: Final consumption expenditures 11847.7 12263.5 12693.3 13233.6 13905.0 14392.7 14116.2 15902.6 27

28 FA156006005 Equals: Net saving 930.9 1034.9 987.8 1073.8 1180.3 1446.6 2992.3 2243.4 28

 Capital account

29 FA156006315 Net saving less capital transfers 921.6 1013.4 973.2 1088.9 1170.8 1431.5 2989.4 2285.5 29

30 FA156006005 Net saving 930.9 1034.9 987.8 1073.8 1180.3 1446.6 2992.3 2243.4 30

31 FA155440005 Less: Capital transfers paid (net) 9.3 21.5 14.7 -15.1 9.5 15.1 3.0 -42.1 31

32 FA155050905 Capital formation, net 156.7 210.8 247.8 274.8 279.2 272.0 310.9 427.6 32

33 FA155019005 Gross fixed capital formation, excluding consumer durables 633.6 706.6 768.1 825.5 868.0 886.5 955.7 1146.4 33

34 FA155012005 Residential 463.9 523.8 577.6 631.4 663.6 673.0 746.5 925.7 34

35 FA165013005 Nonresidential (nonprofit organizations) 169.7 182.8 190.5 194.1 204.4 213.4 209.2 220.6 35

36 FA156300003 Less: Consumption of fixed capital 467.3 485.4 509.0 538.5 575.0 600.5 630.9 704.5 36

37 FA155420003 Acquisition of nonproduced nonfinancial assets -9.5 -10.4 -11.3 -12.2 -13.8 -14.0 -14.0 -14.3 37

38 FA155000905 Net lending (+) or borrowing (-), capital account (lines 29-32) 764.9 802.6 725.3 814.1 891.6 1159.5 2678.5 1857.9 38

 Financial account

39 FA155000905 Net lending (+) or borrowing (-) (line 38) 764.9 802.6 725.3 814.1 891.6 1159.5 2678.5 1857.9 39

40 FA154090005 Net acquisition of financial assets 1375.7 1553.3 810.7 1479.4 1496.2 2355.5 3621.2 2869.6 40

41 FA154000005 Currency and deposits 440.8 654.0 646.1 432.9 259.0 598.7 2532.2 1886.1 41

42 FA153020005 Currency and transferable deposits -30.2 112.6 -58.2 210.1 -175.1 24.8 1980.7 1097.6 42

43 FA153030005 Time and savings deposits 477.4 555.2 710.0 210.0 431.2 575.1 543.7 788.7 43

44 FA153091003 Foreign deposits -6.4 -13.8 -5.6 12.7 2.9 -1.2 7.8 -0.2 44

45 FA313131003 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 FA154022005 Debt securities -101.6 209.9 -124.8 -105.4 806.0 133.0 -625.4 -867.5 46

47 FA153061105 Treasury securities -237.7 319.2 101.5 -48.1 579.7 123.8 -347.8 -679.5 47

48 FA153061705 Agency- and GSE-backed securities (2) 129.4 190.0 -54.8 18.5 167.7 36.2 -298.4 22.6 48

49 FA153062005 Municipal securities -41.7 -36.6 19.0 -33.3 1.2 -63.4 -30.0 -102.4 49

50 FA153063005 Corporate and foreign bonds 48.3 -262.6 -190.6 -42.5 57.4 36.4 50.8 -108.1 50

51 FA154023005 Loans 58.8 -69.4 -7.1 -62.3 -21.4 33.1 113.0 96.4 51

52 FA154041005 Short term 67.0 -54.6 -1.9 -59.0 -15.6 35.5 114.6 90.4 52

53 FA153065005 Long term (mortgages) -8.2 -14.8 -5.2 -3.3 -5.8 -2.3 -1.6 6.1 53

54 FA153081005 Equity and investment fund shares 544.5 265.0 -126.9 647.7 64.3 1085.3 909.5 1336.8 54

55 FA153064105 Corporate equities 260.4 -12.3 162.8 166.4 -98.6 288.6 616.3 726.7 55

56 FA153064205 Mutual fund shares 218.9 97.3 53.9 308.2 16.1 306.0 -188.4 514.6 56

57 FA153034005 Money market fund shares -3.5 46.9 -143.4 72.9 169.5 450.9 428.4 101.4 57

58 FA152090205 Equity in noncorporate business 68.7 133.2 -200.2 100.3 -22.7 39.8 53.2 -5.9 58

59 FA153094305 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 59
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60 FA153052005 Insurance, pension and standardized guarantee schemes 405.7 493.6 420.1 550.5 382.8 496.7 649.0 433.5 60

61 FA153076005 Insurance receivables due from property-casualty insurance companies -4.3 26.3 31.1 31.6 17.9 12.0 21.3 40.9 61

62 FA153040005 Life insurance reserves 49.8 47.2 41.8 19.0 49.4 16.7 94.2 31.0 62

63 FA153050005 Pension entitlements (4) 338.0 407.1 321.6 477.3 281.2 438.2 509.0 325.2 63

64 FA153095105 Non-life insurance reserves at life insurance companies 11.9 5.6 12.8 13.1 20.3 15.4 16.2 15.1 64

65 FA313195105 Retiree Health Care Funds 10.4 7.4 12.9 9.6 13.9 14.4 8.2 21.4 65

66 FA163096005 Other accounts receivable 27.5 0.2 3.2 16.0 5.5 8.7 42.9 -15.7 66

67 FA154190005 Net incurrence of liabilities 191.3 336.9 448.3 578.9 480.4 515.6 625.1 1241.8 67

68 FA163162003 Debt securities (municipals) -6.7 -8.2 -3.2 1.1 -2.4 -2.9 -9.9 -1.6 68

69 FA154123005 Loans 170.1 324.1 443.7 569.6 473.9 510.0 628.1 1235.0 69

70 FA154141005 Short term 168.2 194.2 233.5 267.4 183.0 220.6 177.5 394.7 70

71 FA153166000 Consumer credit 219.1 233.5 236.2 194.3 172.7 185.2 -12.0 246.0 71

72 FA153168005 Depository institution loans n.e.c. 19.8 31.5 10.6 7.9 39.9 11.1 20.5 53.1 72

73 FA153169005 Other loans and advances -70.6 -70.9 -13.3 65.1 -29.6 24.3 169.0 95.6 73

74 FA153165005 Long term (mortgages) 1.8 129.9 210.1 302.2 290.9 289.4 450.6 840.3 74

75 FA543077073 Insurance, pension and standardized guarantee schemes 1.2 1.7 -0.3 1.8 1.9 1.5 0.1 1.5 75

76 FA163170005 Other accounts payable (trade debt) 26.7 19.2 8.2 6.4 7.0 7.0 6.9 6.9 76

 Addendum:

77 FA155000005 Net lending (+) or borrowing (-), financial account (lines 40-67) 1184.4 1216.5 362.4 900.6 1015.8 1840.0 2996.1 1627.9 77

 Other changes in volume account

78 FV158090185 Total other volume changes 863.8 641.0 -53.1 351.2 359.1 1507.8 784.5 360.5 78

79 FU155111005 Net investment in consumer durable goods 180.4 209.9 230.8 236.1 264.6 256.0 337.5 554.8 79

80 FV152010005 Disaster losses 0.0 0.0 0.0 -55.2 -29.7 0.0 0.0 -19.5 80

81 FV158090085 Other volume changes 263.9 17.3 79.1 84.0 0.0 571.4 129.5 55.2 81

82 FU157005045 Less: Statistical discrepancy (lines 38-77) (5) -419.5 -413.8 362.9 -86.4 -124.2 -680.5 -317.6 230.0 82

 Revaluation account

83 FR152010085 Nonfinancial assets 1348.1 1461.7 1626.5 1785.9 1464.4 1483.3 3049.8 5792.5 83

84 FR155035005 Real estate 1450.6 1528.5 1702.2 1881.6 1512.4 1522.2 2970.1 5342.3 84

85 FR165015205 Equipment -2.7 -2.7 -2.6 -1.3 -0.8 -0.6 6.7 14.4 85

86 FR165013765 Intellectual property products 0.8 -1.9 2.2 3.5 2.6 1.7 7.4 3.3 86

87 FR155111005 Consumer durable goods -100.6 -62.2 -75.3 -97.8 -49.8 -40.1 65.5 432.4 87

88 FR158080095 Financial assets 2979.3 -141.6 2444.0 5486.1 -2391.9 8075.6 7981.3 10339.5 88

89 FR154022005 Debt securities 198.0 -69.1 -33.0 55.1 -69.7 194.2 197.0 -122.4 89

90 FR153064105 Corporate equities 1499.1 -170.6 1143.5 2621.3 -1582.6 4124.1 4400.1 5081.1 90

91 FR153064205 Mutual fund shares 249.3 -205.0 298.5 1048.1 -676.3 1509.7 1139.6 1281.1 91

92 FR152090205 Equity in noncorporate business 646.0 460.7 570.6 713.2 455.9 689.9 990.7 2601.7 92

93 FR153094305 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 93

94 FR153052045 Insurance, pension and standardized guarantee schemes 386.9 -157.5 464.5 1048.4 -519.2 1557.7 1253.9 1497.8 94

95 FR158200095 Changes in net worth due to nominal holding gains/losses 4327.4 1320.1 4070.5 7272.1 -927.5 9558.9 11031.1 16131.9 95

 Changes in balance sheet account

96 FC152090005 Change in net worth (lines 32+38+78+95) 6112.9 2974.5 4990.6 8712.2 602.3 12498.2 14805.0 18777.9 96

 Balance sheet account (end of period)

97 FL152000005 Total assets 101131.1 104299.0 109707.9 118973.2 120041.0 133038.9 148465.6 168481.0 97

98 LM152010005 Nonfinancial assets 29682.1 31562.1 33663.5 35902.2 37876.0 39876.9 43580.9 50337.4 98

99 LM155035005 Real estate 24306.3 26013.7 27932.2 30005.3 31734.3 33491.0 36756.7 42479.8 99

100 LM155111005 Consumer durable goods 4859.3 5007.0 5162.5 5300.7 5515.5 5731.4 6134.4 7121.6 100

101 LM165015205 Equipment 364.1 383.8 401.9 419.0 439.3 459.8 482.2 517.4 101

102 LM165013765 Intellectual property products 152.4 157.5 166.8 177.2 186.9 194.7 207.5 218.6 102

103 FL154090005 Financial assets 71449.0 72737.0 76044.4 83071.0 82165.0 93162.0 104884.7 118143.6 103

104 FL154000005 Currency and deposits 8546.4 9216.0 9851.4 10216.4 10475.5 11086.9 13649.3 15544.3 104

105 FL153020005 Currency and transferable deposits 1086.1 1200.3 1131.1 1341.2 1166.1 1201.5 3182.2 4280.2 105

106 LM153091003 Foreign deposits 45.7 31.9 26.3 39.0 41.8 40.6 48.5 48.2 106

107 FL153030005 Time and savings deposits 7414.6 7983.8 8694.0 8836.2 9267.5 9844.8 10418.6 11215.9 107

108 FL313131003 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 108
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109 LM154022005 Debt securities 3983.3 3910.9 3559.7 3546.9 4217.1 4369.4 3936.8 2883.4 109

110 LM153061105 Treasury securities 605.9 911.2 990.3 1021.1 1561.1 1621.4 1368.5 590.9 110

111 LM153061705 Agency- and GSE-backed securities (2) 235.1 428.5 374.4 397.2 551.3 559.5 237.9 255.2 111

112 LM153062005 Municipal securities 1962.7 1929.1 1912.4 1928.0 1881.4 1907.2 1929.6 1806.0 112

113 LM153063005 Corporate and foreign bonds 1179.6 642.1 282.6 200.5 223.3 281.4 400.8 231.3 113

114 FL154023005 Loans 1268.3 1198.9 1191.8 1129.5 1108.1 1141.3 1254.3 1350.7 114

115 FL154041005 Short term 1154.8 1100.2 1098.3 1039.3 1023.7 1059.2 1173.8 1264.1 115

116 FL153065005 Long term (mortgages) 113.5 98.7 93.5 90.2 84.4 82.1 80.5 86.6 116

117 FL153081005 Equity and investment fund shares 31792.2 32146.2 34172.5 39182.5 37399.3 45266.1 52733.0 63031.0 117

118 LM153064105 Corporate equities 13986.0 13803.1 15251.0 18038.7 16357.4 21081.6 26122.9 31940.7 118

119 LM153064205 Mutual fund shares 7105.4 6997.7 7350.0 8706.3 8046.1 10008.8 10960.1 12755.8 119

120 FL153034005 Money market fund shares 1676.8 1723.6 1580.2 1653.1 1822.5 2273.5 2701.9 2803.3 120

121 LM152090205 Equity in noncorporate business 9024.0 9621.8 9991.3 10784.5 11173.3 11902.2 12948.1 15531.1 121

122 LM153094305 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 FL153052005 Insurance, pension and standardized guarantee schemes 25618.1 26024.1 27024.8 28735.5 28699.2 31024.0 32994.0 35032.5 123

124 FL153076005 Insurance receivables due from property-casualty insurance companies 485.1 511.4 542.4 574.0 591.9 603.9 625.2 666.1 124

125 FL153040005 Life insurance reserves 1472.1 1510.9 1568.1 1626.6 1659.1 1731.3 1867.0 1944.9 125

126 FL153050005 Pension entitlements (4) 23103.1 23431.2 24318.0 25915.9 25795.0 28005.8 29794.3 31677.5 126

127 FL153095105 Non-life insurance reserves at life insurance companies 300.4 306.0 318.8 331.8 352.2 367.6 383.8 398.9 127

128 FL313195105 Retiree Health Care Funds 257.3 264.7 277.6 287.1 301.0 315.4 323.6 345.1 128

129 FL163096005 Other accounts receivable 240.7 241.0 244.2 260.2 265.8 274.4 317.4 301.7 129

130 FL152100005 Total liabilities and net worth 101131.1 104299.0 109707.9 118973.2 120041.0 133038.9 148465.6 168481.0 130

131 FL154190005 Liabilities 14369.6 14563.0 14981.3 15534.4 15999.9 16499.7 17121.3 18358.9 131

132 FL163162003 Debt securities (municipals) 227.2 219.0 215.8 216.9 214.5 211.6 201.7 200.1 132

133 FL154123005 Loans 13790.4 13971.1 14384.8 14928.6 15387.5 15881.7 16506.3 17737.1 133

134 FL154141005 Short term 4174.8 4239.5 4473.0 4740.4 4927.0 5147.6 5329.8 5724.5 134

135 FL153166000 Consumer credit 3309.5 3400.2 3636.4 3830.8 4007.0 4192.2 4184.9 4430.8 135

136 FL153168005 Depository institution loans n.e.c. 235.8 280.6 291.3 299.1 339.0 350.2 370.7 423.8 136

137 FL153169005 Other loans and advances 629.5 558.7 545.3 610.5 580.9 605.2 774.3 869.8 137

138 FL153165005 Long term (mortgages) 9615.6 9731.6 9911.8 10188.2 10460.5 10734.1 11176.5 12012.6 138

139 FL543077073 Insurance, pension and standardized guarantee schemes 29.9 31.6 31.3 33.1 35.0 36.5 36.6 38.1 139

140 FL163170005 Other accounts payable (trade debt) 322.1 341.3 349.5 355.9 362.9 369.9 376.7 383.7 140

141 FL152090005 Net worth 86761.5 89736.0 94726.6 103438.8 104041.1 116539.3 131344.3 150122.1 141

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.
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 Current account

 1 FA116902505 Gross value added 3234.3 3296.0 3315.3 3488.1 3670.2 3792.9 3582.0 3890.0 1

 2 FA116300001 Less: Consumption of fixed capital 291.6 302.2 310.0 322.5 337.6 351.8 364.8 392.7 2

 3 FA116902605 Equals: Net value added 2942.7 2993.8 3005.2 3165.6 3332.5 3441.0 3217.2 3497.3 3

 4 FA116025001 Compensation of employees (paid) 949.3 1002.2 1036.4 1087.5 1144.4 1204.8 1172.7 1296.6 4

 5 FA116020001 Wages and salaries 800.2 847.2 877.8 921.2 968.4 1021.5 993.3 1104.7 5

 6 FA116401005 Employers’ social contributions 149.0 155.0 158.7 166.3 176.0 183.3 179.5 191.9 6

 7 FA116240101 Taxes on production and imports less subsidies 182.9 203.5 208.4 223.8 236.8 243.3 27.9 92.6 7

 8 FA116402105 Operating surplus, net 1810.6 1788.1 1760.4 1854.4 1951.3 1992.9 2016.6 2108.2 8

 9 FA116140001 Net national income/Balance of primary incomes, net 28.1 25.7 22.7 30.5 29.9 25.4 24.5 26.4 9

10 FA116402105 Operating surplus, net 1810.6 1788.1 1760.4 1854.4 1951.3 1992.9 2016.6 2108.2 10

11 FA116130101 Property income (interest received) 13.6 14.6 15.6 17.8 20.8 21.9 20.7 16.4 11

12 FA116150005 Less: Uses of property income (paid) 1796.0 1777.0 1753.3 1841.7 1942.2 1989.3 2012.8 2098.2 12

13 FA116130001 Interest 215.8 222.6 232.6 253.5 257.7 273.2 289.5 251.4 13

14 FA116122001 Withdrawals from income of quasi-corporations (2) 1580.0 1554.2 1520.4 1587.9 1683.5 1714.6 1722.3 1844.3 14

15 FA113192281 Reinvested earnings on foreign direct investment 0.2 0.2 0.3 0.3 1.1 1.5 1.0 2.4 15

16 FA116112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 FA116140001 Net national income/Balance of primary incomes, net 28.1 25.7 22.7 30.5 29.9 25.4 24.5 26.4 17

18 FA116403001 Less: Other current transfers (paid) 28.1 25.7 22.7 30.5 29.9 25.4 24.5 26.4 18

19 FA116012005 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA116012005 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Capital account

21 FA116006305 Net saving less capital transfers -0.0 0.0 0.0 9.4 3.0 0.0 0.0 5.2 21

22 FA116012005 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA115440005 Less: Capital transfers paid (net) 0.0 0.0 0.0 -9.4 -3.0 0.0 0.0 -5.2 23

24 FA115050985 Capital formation, net 72.1 80.5 66.9 78.2 82.3 82.3 68.4 94.6 24

25 FA115019085 Gross fixed capital formation 354.1 362.8 375.2 399.5 416.8 434.1 444.9 491.8 25

26 FA115013085 Nonresidential 265.1 261.0 262.6 280.3 291.9 304.4 302.2 323.5 26

27 FA115012005 Residential 89.0 101.8 112.6 119.2 124.9 129.7 142.7 168.3 27

28 FA116300001 Less: Consumption of fixed capital 291.6 302.2 310.0 322.5 337.6 351.8 364.8 392.7 28

29 FA115020005 Change in private inventories 9.6 19.9 1.7 1.2 3.1 -0.0 -11.6 -4.5 29

30 FA115000905 Net lending (+) or borrowing (-), capital account (lines 21-24) -72.1 -80.5 -66.9 -68.9 -79.2 -82.3 -68.4 -89.5 30

 Financial account

31 FA115000905 Net lending (+) or borrowing (-) (line 30) -72.1 -80.5 -66.9 -68.9 -79.2 -82.3 -68.4 -89.5 31

32 FA114090005 Net acquisition of financial assets 372.5 310.6 383.9 613.6 309.1 123.8 486.1 289.4 32

33 FA114000005 Currency and deposits 85.1 18.6 73.0 117.9 59.3 49.4 146.8 173.6 33

34 FA113020005 Currency and transferable deposits 69.4 7.4 24.8 26.7 11.5 13.9 61.8 78.3 34

35 FA113030003 Time and savings deposits 15.7 11.3 48.2 91.1 47.8 35.5 85.0 95.4 35

36 FA114022005 Debt securities -0.4 6.0 2.8 6.9 1.9 -3.2 3.0 2.7 36

37 FA113061003 Treasury securities 0.2 5.7 2.0 6.1 2.2 -1.1 2.7 2.2 37

38 FA113062003 Municipal securities -0.7 0.3 0.9 0.8 -0.3 -2.1 0.3 0.5 38

39 FA114023005 Loans -0.4 7.1 -2.0 8.4 1.0 1.7 4.3 3.8 39

40 FA113066003 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 FA113065005 Long term (mortgages) -0.4 7.1 -2.0 8.4 1.0 1.7 4.3 3.8 41

42 FA113081005 Equity and investment fund shares 3.7 3.0 3.3 11.6 4.9 3.8 9.3 3.6 42

43 FA113034003 Money market fund shares 2.9 2.5 2.6 9.1 4.8 3.5 9.1 2.4 43

44 FA113092405 Equity in government-sponsored enterprises (3) 0.7 0.5 0.7 2.6 0.2 0.3 0.2 1.3 44

45 FA113076005 Insurance, pension and standardized guarantee schemes (4) 12.7 -10.2 -3.0 4.1 -1.3 10.0 6.9 17.2 45

46 FA113096005 Other accounts receivable 271.9 286.1 309.7 464.8 243.2 62.1 315.8 88.5 46

47 FA113070003 Trade receivables 21.4 -3.6 76.7 55.0 49.6 -89.4 47.1 46.6 47

48 FA113072003 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 0.0 134.8 -111.3 48

49 FA113093005 Other (miscellaneous assets) 250.5 289.6 232.9 409.7 193.6 151.4 134.0 153.2 49

50 FA114194005 Net incurrence of liabilities 444.7 391.1 450.7 682.5 388.3 206.1 554.6 378.8 50

51 FA114135005 Loans 285.1 251.9 389.4 463.7 297.8 113.8 428.1 261.8 51

52 FA114141005 Short term 96.4 70.3 119.1 132.5 86.3 26.0 194.2 -28.1 52

53 FA113168005 Depository institution loans n.e.c. 85.2 63.1 118.2 127.4 77.5 17.4 98.1 -85.4 53

54 FA113169005 Other loans and advances 11.2 7.3 0.8 5.1 8.8 8.6 96.1 57.3 54

55 FA114142005 Long term 188.6 181.5 270.3 331.2 211.5 87.8 234.0 289.9 55

56 FA113165005 Mortgages 188.2 181.1 269.3 331.6 206.8 87.8 234.9 290.0 56

57 FA115114305 Foreign direct investment in the U.S.: debt 0.4 0.4 1.0 -0.4 4.7 0.0 -1.0 -0.1 57
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58 FA113181005 Equity and investment fund shares 65.8 129.4 -215.8 102.0 -27.3 38.5 47.8 -21.5 58

59 FA112090205 Equity in noncorporate business 64.4 127.9 -217.5 99.4 -32.2 34.6 46.3 -21.7 59

60 FA115114103 Foreign direct investment in the U.S.: equity 1.4 1.5 1.7 2.7 5.0 3.9 1.4 0.2 60

61 FA113196005 Other accounts payable 93.8 9.8 277.1 116.8 117.8 53.8 78.6 138.5 61

62 FA113170005 Trade payables 9.0 -16.0 65.8 7.8 5.7 -57.0 -27.0 58.0 62

63 FA113178003 Taxes payable 6.8 5.2 10.0 4.6 18.5 6.8 13.1 5.0 63

64 FA113193003 Other (miscellaneous liabilities) 77.9 20.7 201.4 104.4 93.6 104.0 92.5 75.5 64

 Addendum:

65 FA115000005 Net lending (+) or borrowing (-), financial account (lines 32-50) -72.1 -80.5 -66.9 -68.9 -79.2 -82.3 -68.5 -89.5 65

 Other changes in volume account

66 FV118090105 Total other volume changes 0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 66

67 FV112010005 Disaster losses 0.0 0.0 0.0 -25.2 -13.4 0.0 0.0 -12.4 67

68 FV118090085 Other volume changes 0.0 0.0 -0.0 25.2 13.4 -0.0 0.0 12.4 68

 Revaluation account

69 FR112010005 Nonfinancial assets 645.4 461.8 574.6 705.9 472.1 709.5 1000.7 2624.4 69

70 FR115035005 Real estate 625.7 499.8 563.6 664.6 434.6 684.6 948.5 2477.0 70

71 FR115035023 Residential 334.2 342.3 374.6 425.2 403.4 389.1 634.8 1697.6 71

72 FR115035035 Nonresidential 291.5 157.5 189.0 239.4 31.2 295.6 313.7 779.4 72

73 FR115015205 Equipment 13.9 12.0 19.5 27.6 36.8 24.4 42.7 93.2 73

74 FR115012265 Residential -2.9 -1.9 -2.5 -1.4 3.3 -2.3 6.1 5.8 74

75 FR115013265 Nonresidential 16.8 13.9 22.0 29.0 33.5 26.7 36.7 87.4 75

76 FR115013765 Intellectual property products 1.8 -0.1 3.2 5.8 3.5 4.2 12.3 7.3 76

77 FR115020005 Inventories 4.0 -49.9 -11.7 7.8 -2.7 -3.7 -2.8 46.8 77

78 FR114022005 Financial assets (debt securities) 2.1 -1.0 -1.0 0.1 -1.2 3.2 3.4 -4.2 78

79 FR114190085 Liabilities 647.5 460.8 573.6 715.4 474.0 712.7 1004.1 2625.4 79

80 FR115114305 Direct investment in the U.S.: debt -0.0 0.0 -0.1 0.1 0.1 -0.2 -0.1 -0.3 80

81 FR112090205 Equity in noncorporate business 646.0 460.7 570.6 713.2 455.9 689.9 990.7 2601.7 81

82 FR115114103 Direct investment in the U.S.: equity 1.5 0.1 3.2 2.1 18.0 23.0 13.5 23.9 82

83 FR118200005 Changes in net worth due to nominal holding gains/losses 0.0 -0.0 0.0 -9.4 -3.0 0.0 0.0 -5.2 83

 Changes in balance sheet account

84 FC112090095 Change in net worth (lines 24+30+66+83) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84

 Balance sheet account (end of period)

85 FL112000005 Total assets 15464.6 16316.5 17340.8 18713.5 19562.4 20481.1 22039.8 25031.6 85

86 LM112010005 Nonfinancial assets 11233.3 11775.6 12417.0 13175.9 13716.8 14508.6 15577.7 18284.3 86

87 LM115035005 Real estate 9929.9 10481.8 11109.2 11823.1 12314.0 13070.1 14100.0 16651.7 87

88 LM115035023 Residential (5) 5389.4 5745.3 6140.4 6565.2 6977.5 7389.7 8055.8 9789.0 88

89 LM115035035 Nonresidential 4540.5 4736.6 4968.8 5258.0 5336.5 5680.4 6044.3 6862.7 89

90 LM115015205 Equipment 788.2 799.7 809.3 830.9 865.5 886.5 913.3 1000.4 90

91 LM115012265 Residential 47.0 47.9 48.5 50.2 56.4 56.7 65.7 75.6 91

92 LM115013265 Nonresidential 741.2 751.8 760.8 780.7 809.1 829.8 847.6 924.9 92

93 LM115013765 Intellectual property products 224.4 233.3 247.8 262.1 277.2 295.6 322.4 347.9 93

94 LM115020005 Inventories 290.7 260.8 250.8 259.8 260.2 256.4 242.0 284.3 94

95 FL114090005 Financial assets 4231.4 4540.9 4923.9 5537.6 5845.5 5972.6 6462.1 6747.2 95

96 FL114000005 Currency and deposits 1096.6 1115.2 1188.3 1306.1 1365.4 1414.8 1561.6 1735.2 96

97 FL113020005 Currency and transferable deposits 247.1 254.5 279.3 306.0 317.5 331.4 393.2 471.5 97

98 FL113030003 Time and savings deposits 849.5 860.8 909.0 1000.1 1047.9 1083.4 1168.4 1263.8 98

99 LM114022005 Debt securities 61.2 66.2 68.1 75.1 75.8 75.9 82.3 80.8 99

100 LM113061003 Treasury securities 57.2 61.9 63.0 69.0 70.2 72.1 78.1 76.1 100

101 LM113062003 Municipal securities 4.0 4.3 5.1 6.0 5.6 3.8 4.2 4.6 101

102 FL114023005 Loans 34.5 41.5 39.5 48.0 49.0 50.7 55.0 58.7 102

103 FL113066003 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 FL113065005 Long term (mortgages) 34.5 41.5 39.5 48.0 49.0 50.7 55.0 58.7 104

105 FL113081005 Equity and investment fund shares 94.1 97.1 100.5 112.1 117.0 120.9 130.2 133.8 105

106 FL113034003 Money market fund shares 85.6 88.1 90.7 99.8 104.6 108.1 117.2 119.5 106

107 FL113092405 Equity in government-sponsored enterprises (3) 8.5 9.0 9.8 12.3 12.5 12.8 13.0 14.3 107

108 FL113076005 Insurance, pension and standardized guarantee schemes (4) 129.4 119.3 116.3 120.3 119.0 129.0 135.9 153.2 108
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109 FL113096005 Other accounts receivable 2815.5 3101.6 3411.3 3876.0 4119.3 4181.3 4497.1 4585.6 109

110 FL113070003 Trade receivables 674.7 671.2 747.9 802.9 852.6 763.2 810.3 856.9 110

111 FL113072003 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 0.0 134.8 23.4 111

112 FL113093005 Other (miscellaneous assets) 2140.8 2430.4 2663.3 3073.1 3266.7 3418.1 3552.1 3705.3 112

113 FL112100005 Total liabilities and net worth 15464.6 16316.5 17340.8 18713.5 19562.4 20481.1 22039.8 25031.6 113

114 FL114194005 Liabilities 15464.6 16316.5 17340.8 18713.5 19562.4 20481.1 22039.8 25031.6 114

115 FL114135005 Loans 4480.4 4727.5 5114.9 5577.0 5873.6 5986.3 6413.9 6675.1 115

116 FL114141005 Short term 1309.5 1377.8 1496.9 1629.4 1715.8 1741.8 1936.0 1907.9 116

117 FL113168005 Depository institution loans n.e.c. 1081.8 1144.9 1263.1 1390.5 1468.0 1485.4 1583.5 1498.1 117

118 FL113169005 Other loans and advances 227.8 233.0 233.8 239.0 247.8 256.4 352.4 409.8 118

119 FL114142005 Long term 3170.9 3349.6 3617.9 3947.5 4157.8 4244.5 4477.9 4767.3 119

120 FL113165005 Mortgages 3169.4 3347.8 3615.2 3945.2 4150.7 4237.5 4471.9 4761.6 120

121 FL115114305 Foreign direct investment in the U.S.: debt 1.5 1.9 2.7 2.4 7.1 7.0 6.0 5.7 121

122 LM113181005 Equity and investment fund shares 8991.6 9586.7 9946.5 10740.2 11174.7 11927.0 12979.4 15571.4 122

123 LM112090205 Equity in noncorporate business 8978.9 9571.4 9923.5 10715.8 11095.1 11818.8 12857.8 15425.0 123

124 LM115114103 Foreign direct investment in the U.S.: equity 12.7 15.3 22.9 24.4 79.6 108.2 121.6 146.4 124

125 FL113196005 Other accounts payable 1992.6 2002.4 2279.5 2396.3 2514.1 2567.9 2646.5 2785.1 125

126 FL113170005 Trade payables 535.7 519.7 585.5 593.2 599.0 542.0 515.0 573.0 126

127 FL113178003 Taxes payable 117.4 122.5 132.5 137.2 155.6 162.4 175.5 180.5 127

128 FL113193003 Other (miscellaneous liabilities) 1339.4 1360.1 1561.5 1665.9 1759.5 1863.5 1956.0 2031.5 128

129 FL112090095 Net worth 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 129

(1) 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.

(2) 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.

(3) 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 2004:Q4.

(4) Net equity in reserves of property-casualty insurance companies.

(5) Farm houses are included in the household sector.
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 Current account

 1 FA106902501 Gross value added 8785.5 9128.5 9238.2 9659.7 10188.6 10641.4 10351.0 11774.6 1

 2 FA106300003 Less: Consumption of fixed capital 1349.2 1401.7 1430.2 1493.0 1562.5 1645.6 1709.3 1801.3 2

 3 FA106902605 Equals: Net value added 7436.2 7726.8 7808.0 8166.7 8626.0 8995.9 8641.7 9973.3 3

 4 FA106025005 Compensation of employees (paid) 5026.2 5292.6 5430.6 5704.8 6023.3 6317.5 6327.8 6955.6 4

 5 FA106020001 Wages and salaries 4197.2 4430.6 4560.3 4786.1 5049.1 5301.2 5329.1 5888.2 5

 6 FA106401001 Employers’ social contributions 829.0 862.0 870.3 918.7 974.2 1016.2 998.7 1067.4 6

 7 FA106240101 Taxes on production and imports less subsidies 767.6 772.8 785.7 827.3 882.5 933.6 550.3 789.2 7

 8 FA106402101 Operating surplus, net 1642.4 1661.4 1591.6 1634.6 1720.2 1744.8 1763.5 2228.6 8

 9 FA106140005 Net national income/Balance of primary incomes, net 959.3 911.6 778.5 829.5 889.2 859.8 715.4 1024.9 9

10 FA106402101 Operating surplus, net 1642.4 1661.4 1591.6 1634.6 1720.2 1744.8 1763.5 2228.6 10

11 FA106150105 Property income (received) 538.8 545.3 522.3 596.1 911.6 760.2 556.3 528.7 11

12 FA106130101 Interest 149.4 153.0 153.2 166.7 187.5 237.8 201.0 171.0 12

13 FA106121101 Distributed income of corporations (dividends) 102.9 124.9 102.4 102.0 946.7 378.1 197.9 55.0 13

14 FA103092201 Reinvested earnings on U.S. direct investment abroad 286.4 267.4 266.7 327.3 -222.6 144.2 157.4 302.8 14

15 FA106150005 Less: Uses of property income (paid) 1221.9 1295.1 1335.4 1401.2 1742.5 1645.2 1604.4 1732.4 15

16 FA106130001 Interest 419.7 439.6 461.6 480.9 449.5 513.9 471.6 436.8 16

17 FA106121001 Distributed income of corporations (dividends) 700.5 766.0 793.1 822.8 1172.7 1006.4 1048.1 1097.2 17

18 FA103192201 Reinvested earnings on foreign direct investment 78.9 71.6 65.0 80.6 100.8 104.7 67.5 178.9 18

19 FA106112001 Rent 22.9 17.9 15.6 16.9 19.5 20.2 17.3 19.6 19

20 FA106140005 Net national income/Balance of primary incomes, net 959.3 911.6 778.5 829.5 889.2 859.8 715.4 1024.9 20

21 FA106220001 Less: Current taxes on income, wealth, etc. (paid) 290.7 283.2 261.9 214.2 212.3 196.6 204.0 280.9 21

22 FA106403001 Less: Other current transfers (paid) 79.4 99.3 74.9 95.2 99.2 92.2 88.3 96.6 22

23 FA106012095 Equals: Disposable income, net 589.1 529.1 441.8 520.1 577.8 571.0 423.1 647.3 23

24 FA106012095 Equals: Net saving 589.1 529.1 441.8 520.1 577.8 571.0 423.1 647.3 24

 Capital account

25 FA106006385 Net saving less capital transfers 595.8 532.3 439.1 319.3 584.0 583.4 409.4 657.2 25

26 FA106012095 Net saving 589.1 529.1 441.8 520.1 577.8 571.0 423.1 647.3 26

27 FA105440005 Less: Capital transfers paid (net) -6.7 -3.2 2.6 200.8 -6.2 -12.4 13.6 -9.8 27

28 FA105050985 Capital formation, net 480.5 534.2 377.8 406.8 509.0 530.5 247.6 361.8 28

 Gross fixed capital formation (acquisition of

29 FA105019085 produced nonfinancial assets) 1753.8 1789.5 1766.2 1868.7 2017.4 2103.4 2001.0 2171.3 29

30 FA106300003 Less: Consumption of fixed capital 1349.2 1401.7 1430.2 1493.0 1562.5 1645.6 1709.3 1801.3 30

31 FA105420095 Acquisition of nonproduced nonfinancial assets 1.6 29.5 7.3 0.2 -1.8 -0.1 0.0 6.4 31

32 FA105020005 Change in private inventories 74.3 116.9 34.6 31.0 56.0 72.8 -44.2 -14.6 32

33 FA105000905 Net lending (+) or borrowing (-), capital account (lines 25-28) 115.3 -1.8 61.4 -87.5 75.0 52.9 161.9 295.4 33

 Financial account

34 FA105000905 Net lending (+) or borrowing (-) (line 33) 115.3 -1.8 61.4 -87.5 75.0 52.9 161.9 295.4 34

35 FA104090005 Net acquisition of financial assets 673.4 1140.0 945.8 542.2 865.2 2395.8 394.8 1390.6 35

36 FA104000005 Currency and deposits 19.9 41.3 175.3 62.0 151.2 173.0 513.2 163.8 36

37 FA103020000 Currency and transferable deposits 116.8 49.4 154.1 -49.2 255.7 134.0 432.5 141.3 37

38 FA103030003 Time and savings deposits -87.6 10.9 17.5 -7.7 5.8 14.3 76.7 -1.3 38

39 FA103091003 Foreign deposits -9.3 -19.0 3.7 119.0 -110.3 24.7 4.0 23.8 39

40 FA104022005 Debt securities 25.7 3.7 -4.1 28.8 19.1 69.3 35.9 24.4 40

41 FA103069100 Open market paper 25.1 7.8 -6.9 -8.8 38.4 55.4 33.3 2.1 41

42 FA103061103 Treasury securities 1.6 -3.8 4.2 30.1 -15.6 6.7 7.4 16.9 42

43 FA103061703 Agency- and GSE-backed securities (2) 0.6 -1.3 1.3 10.0 -5.5 2.4 3.6 5.0 43

44 FA103062003 Municipal securities -1.6 1.0 -2.7 -2.5 1.7 4.8 -8.4 0.3 44

45 FA104035005 Loans 22.0 26.4 -14.0 -82.9 59.0 -94.5 -18.6 -44.2 45

46 FA104041005 Short term 27.4 13.6 26.8 -52.7 -24.7 -1.9 23.6 -11.8 46

47 FA104042005 Long term -5.4 12.9 -40.8 -30.2 83.7 -92.6 -42.2 -32.4 47

48 FA103081005 Equity and investment fund shares 408.0 259.0 222.4 330.4 -316.9 223.6 230.2 368.4 48

49 FA103034000 Money market fund shares 21.9 19.0 -112.5 68.7 -51.0 108.4 122.2 101.0 49

50 FA103064103 Corporate equities 37.3 -42.1 66.9 -89.9 -40.7 10.2 -136.0 -102.8 50

51 FA103064203 Mutual fund shares 24.0 12.2 -5.4 7.9 -9.0 5.3 11.0 23.1 51

52 FA103092105 U.S. direct investment abroad: equity 324.6 269.8 273.4 343.4 -216.3 99.7 232.9 347.0 52

53 FA103092405 Equity in government-sponsored enterprises (2) 0.1 0.1 0.1 0.3 0.1 0.1 0.1 0.2 53

54 FA103076005 Insurance, pension and standardized guarantee schemes (3) 10.2 2.3 6.6 13.9 11.4 15.0 22.0 36.0 54

55 FA103096005 Other accounts receivable 187.7 807.2 559.6 189.9 941.5 2009.3 -387.9 842.2 55
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56 FA103070005 Trade receivables 104.1 33.4 198.8 163.4 396.3 540.5 -137.0 552.1 56

57 FA103072005 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 0.0 244.4 -171.8 57

58 FA103094705 Other investment in finance company subsidiaries 15.8 2.2 -13.1 12.5 2.5 -0.6 -3.0 -14.9 58

59 FA103093005 Other (miscellaneous assets) 67.8 771.6 373.9 14.0 542.7 1469.4 -492.2 476.8 59

60 FA104194005 Net incurrence of liabilities 1016.4 1249.6 1023.3 337.9 924.1 2071.8 234.9 1113.1 60

61 FA104122005 Debt securities 321.4 412.7 291.7 330.7 153.2 278.1 655.1 215.4 61

62 FA103169100 Open market paper 37.5 -3.0 1.8 25.9 -10.2 -1.9 -62.3 6.0 62

63 FA103162000 Municipal securities -0.4 13.6 21.4 17.4 -2.4 16.0 5.1 10.5 63

64 FA103163003 Corporate bonds 284.3 402.1 268.5 287.4 165.8 264.0 712.4 198.9 64

65 FA104135005 Loans 220.9 228.4 -22.3 24.8 139.3 359.7 352.2 425.2 65

66 FA104141005 Short term 183.4 96.5 -26.2 67.3 114.6 157.6 341.0 266.2 66

67 FA103168005 Depository institution loans n.e.c. 101.1 104.0 -4.0 -50.7 103.8 29.6 153.0 -38.3 67

68 FA103169005 Other loans and advances 82.3 -7.5 -22.2 118.0 10.8 128.0 188.1 304.5 68

69 FA104142005 Long term 37.5 131.8 3.9 -42.4 24.7 202.2 11.2 159.1 69

70 FA103165005 Mortgages -17.7 91.8 6.2 -33.9 97.6 209.4 75.0 139.4 70

71 FA103192305 Foreign direct investment in the U.S.: debt 55.2 40.0 -2.3 -8.5 -72.9 -7.3 -63.8 19.7 71

72 FA103181005 Equity and investment fund shares -148.7 -63.4 3.7 9.0 -304.9 -130.6 35.8 22.3 72

73 FA103164103 Corporate equities -279.0 -439.0 -409.6 -289.4 -540.8 -361.5 -121.6 -338.1 73

74 FA103192105 Foreign direct investment in the U.S.: equity 130.2 375.7 413.3 298.4 235.9 230.9 157.4 360.5 74

75 FA103152025 Insurance, pension and standardized guarantee schemes 39.4 74.6 64.8 -47.8 41.1 68.7 -9.1 23.3 75

76 FA573074005 Pension fund contributions payable -2.9 15.2 8.8 19.2 -34.6 -4.6 -2.4 -2.8 76

77 FA573073005 Claim of pension fund on sponsor 42.2 59.5 55.9 -67.0 75.6 73.3 -6.7 26.1 77

78 FA103196005 Other accounts payable 583.4 597.3 685.5 21.1 895.4 1495.9 -799.1 426.9 78

79 FA103170005 Trade payables 148.5 24.3 184.2 81.3 320.7 230.1 -155.9 451.9 79

80 FA103178005 Taxes payable 12.2 -21.2 -8.1 220.4 -11.3 -7.5 7.7 -23.9 80

81 FA103193005 Miscellaneous liabilities 422.6 594.1 509.3 -280.6 586.0 1273.3 -650.9 -1.1 81

 Addendum:

82 FA105000005 Net lending (+) or borrowing (-), financial account (lines 35-60) -342.9 -109.6 -77.5 204.3 -58.8 324.0 159.9 277.5 82

 Other changes in volume account

83 FV108090105 Total other volume changes -465.8 -211.4 -194.2 273.2 289.3 331.3 114.7 119.6 83

84 FV102010005 Disaster losses 0.0 0.0 0.0 -19.7 -5.5 0.0 0.0 -25.7 84

85 FV108090085 Other volume changes -5.5 -47.4 -50.8 -45.4 381.0 61.6 90.3 -93.6 85

86 FU107005045 Less: Statistical discrepancy (lines 33-82) (4) 458.2 107.8 138.9 -291.8 133.8 -271.1 2.0 17.9 86

87 FU105020601 Less: Inventory valuation adjustment 2.1 56.3 4.5 -46.4 -47.6 1.4 -26.4 -256.9 87

 Revaluation account

88 FR102010005 Nonfinancial assets 803.8 461.6 645.6 813.3 147.9 999.5 1107.2 2745.2 88

89 FR105035005 Real estate 809.6 572.8 578.0 685.7 29.9 943.2 882.6 2140.2 89

90 FR105015205 Equipment -13.3 -60.7 -22.4 33.1 55.3 15.4 41.4 339.7 90

91 FR105013765 Intellectual property products 20.2 -10.2 33.3 62.7 39.8 41.8 141.5 68.0 91

92 FR105020015 Inventories -12.7 -40.2 56.6 31.9 22.8 -0.9 41.7 197.3 92

93 FR108080095 Financial assets 168.5 -18.8 158.6 363.7 -142.7 572.9 402.6 726.1 93

94 FR104022005 Debt securities 3.3 -0.6 -0.8 0.5 -1.9 4.1 1.8 -4.7 94

95 FR103092305 Direct investment abroad: debt 6.6 3.7 -14.6 8.9 -0.7 -0.6 -0.0 0.0 95

96 FR103064103 Corporate equities 156.7 -11.7 146.1 326.2 -118.7 517.7 361.4 684.0 96

97 FR103064203 Mutual fund shares 8.6 -6.5 13.3 37.0 -22.0 51.2 39.4 46.8 97

98 FR103092105 Direct investment abroad: equity -247.7 -451.7 40.1 944.7 -1164.9 975.2 326.2 959.1 98

99 FR103093005 Other accounts receivable (miscellaneous assets) 241.1 448.0 -25.5 -953.6 1165.7 -974.6 -326.2 -959.1 99

100 FR104190085 Liabilities 2988.8 -590.5 2246.2 5217.4 -2250.7 8976.9 9992.4 11392.0 100

101 FR103192305 Foreign direct investment in the U.S.: debt -8.3 2.0 -38.3 13.2 9.1 -8.7 -3.3 -15.0 101

102 FR103164103 Corporate equity 2733.6 -417.3 1948.9 4383.9 -1663.1 7498.4 8939.1 9248.1 102

103 FR103192105 Foreign direct investment in the U.S.: equity 255.2 -173.1 297.3 833.5 -587.6 1478.5 1053.3 2143.9 103

104 FR103152025 Insurance, pension and standardized guarantee schemes -152.9 43.6 -142.3 -270.1 152.0 -434.6 -310.5 -305.3 104

105 FR103193005 Other accounts payable (miscellaneous liabilities) 161.2 -45.5 180.6 256.9 -161.2 443.3 313.8 320.2 105

106 FR108200005 Changes in net worth due to nominal holding gains/losses -2016.5 1033.3 -1442.0 -4040.4 2255.9 -7404.4 -8482.6 -7920.7 106

 Changes in balance sheet account

107 FC102090095 Change in net worth (lines 28+33+83+106) (5) -1886.5 1354.1 -1197.1 -3448.0 3129.1 -6489.7 -7958.5 -7143.9 107

 Balance sheet account (end of period)

108 FL102000005 Total assets 34121.7 36130.2 38220.4 40344.0 42157.2 47089.7 49147.1 54528.3 108

109 LM102010005 Nonfinancial assets (6) 19264.0 20151.4 21137.2 22354.9 23045.6 24609.3 25869.2 29133.7 109

110 LM105035005 Real estate 10432.7 11129.4 11800.9 12578.9 12757.2 13910.2 14787.3 16936.4 110

111 LM105015205 Equipment 4486.1 4594.8 4695.7 4863.3 5089.1 5258.9 5344.8 5785.0 111
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112 LM105013765 Intellectual property products 2111.8 2173.4 2300.2 2463.0 2623.2 2793.5 3066.8 3302.3 112

113 LM105020015 Inventories 2233.5 2253.8 2340.4 2449.7 2576.1 2646.6 2670.4 3110.0 113

114 FL104090005 Financial assets 14857.7 15978.9 17083.2 17989.1 19111.7 22480.4 23277.9 25394.6 114

115 FL104000005 Currency and deposits 1038.0 1079.2 1254.5 1316.5 1467.7 1640.8 2154.0 2317.8 115

116 FL103020000 Currency and transferable deposits 764.4 813.8 967.9 918.6 1174.3 1308.3 1740.9 1882.2 116

117 FL103030003 Time and savings deposits 160.7 171.6 189.0 181.3 187.2 201.5 278.1 276.8 117

118 FL103091003 Foreign deposits 112.9 93.9 97.6 216.6 106.3 131.0 135.0 158.8 118

119 LM104022005 Debt securities 208.4 211.6 206.7 236.0 253.2 326.6 364.3 384.0 119

120 FL103069100 Open market paper 131.6 139.4 132.5 123.7 162.1 217.6 250.9 253.0 120

121 LM103061103 Treasury securities 41.7 37.4 41.2 71.3 54.4 63.6 72.9 85.9 121

122 LM103061703 Agency- and GSE-backed securities (2) 13.9 12.5 13.7 23.8 18.1 21.2 24.3 28.6 122

123 LM103062003 Municipal securities 21.2 22.3 19.3 17.2 18.5 24.2 16.3 16.4 123

124 FL104035005 Loans 335.2 365.4 336.8 262.8 282.0 187.0 169.7 125.5 124

125 FL104041005 Short term 88.1 101.7 128.5 75.8 51.1 49.2 72.8 61.0 125

126 FL102051003 Security repurchases 50.4 64.6 90.3 39.6 14.6 13.4 37.0 25.1 126

127 FL103066005 Consumer credit 37.7 37.1 38.2 36.2 36.5 35.8 35.8 35.8 127

128 FL104042005 Long term 247.1 263.7 208.3 187.0 231.0 137.8 96.9 64.5 128

129 FL103065003 Mortgages 29.0 52.6 29.8 32.2 34.2 36.4 44.4 51.1 129

130 FL103092305 U.S. direct investment abroad: debt 218.1 211.1 178.5 154.8 196.8 101.3 52.5 13.4 130

131 FL103081005 Equity and investment fund shares 7426.6 7295.0 7701.8 9348.2 7757.1 9463.1 10363.7 12430.5 131

132 FL103034000 Money market fund shares 557.4 576.4 463.8 532.5 481.5 589.9 712.1 813.1 132

133 LM103064103 Corporate equities 1553.8 1499.9 1712.9 1949.3 1789.9 2317.7 2543.2 3124.4 133

134 LM103064203 Mutual fund shares 242.4 248.2 256.0 300.9 269.8 326.3 376.7 446.6 134

135 LM103092105 U.S. direct investment abroad: equity 5072.3 4969.7 5268.1 6564.3 5214.6 6227.9 6730.4 8044.9 135

136 FL103092405 Equity in government-sponsored enterprises (2) 0.7 0.8 0.9 1.2 1.2 1.3 1.4 1.5 136

137 FL103076005 Insurance, pension and standardized guarantee schemes (3) 342.8 345.1 351.7 365.6 377.0 392.0 414.0 450.0 137

138 FL103096005 Other accounts receivable 5506.6 6682.6 7231.7 6459.9 8974.6 10470.9 9812.1 9686.8 138

139 FL103070005 Trade receivables 2720.8 2754.2 2953.0 3116.4 3512.7 4053.2 3916.2 4468.3 139

140 FL103072005 PPP subsidies receivable 0.0 0.0 0.0 0.0 0.0 0.0 244.4 72.7 140

141 FL103094705 Other investment in finance company subsidiaries 108.8 111.3 98.2 110.7 113.2 112.5 109.5 94.6 141

142 FL103093005 Other (miscellaneous assets) 2677.1 3817.1 4180.5 3232.8 5348.7 6305.2 5542.0 5051.2 142

143 FL102100085 Total liabilities and net worth 34121.7 36130.2 38220.4 40344.0 42157.2 47089.7 49147.1 54528.3 143

144 FL104194005 Liabilities 44531.3 45185.7 48473.0 54044.6 52728.7 64150.9 74166.8 86691.9 144

145 FL104122005 Debt securities 5155.7 5568.4 5860.1 6190.8 6344.0 6622.1 7277.3 7492.7 145

146 FL103169100 Open market paper 182.0 179.0 180.8 206.7 196.5 194.5 132.2 138.2 146

147 FL103162000 Municipal securities 533.4 547.0 568.4 585.8 583.4 599.4 604.5 615.0 147

148 FL103163003 Corporate bonds 4440.2 4842.4 5110.9 5398.3 5564.2 5828.2 6540.6 6739.4 148

149 FL104135005 Loans 2963.7 3158.7 3093.5 3269.4 3744.3 4097.2 4446.2 4843.0 149

150 FL104141005 Short term 2027.5 2082.4 2056.1 2261.2 2709.8 2867.4 3208.5 3474.6 150

151 FL103168005 Depository institution loans n.e.c. 858.9 951.1 947.1 896.4 1000.2 1029.8 1182.8 1144.4 151

152 FL103169005 Other loans and advances 1168.6 1131.2 1109.0 1364.8 1709.6 1837.6 2025.7 2330.2 152

153 FL104142005 Long term 936.3 1076.3 1037.3 1008.1 1034.5 1229.8 1237.7 1368.4 153

154 FL103165005 Mortgages 470.4 568.5 570.1 536.2 626.3 837.6 912.6 1038.6 154

155 LM103192305 Foreign direct investment in the U.S.: debt 465.9 507.9 467.2 471.9 408.2 392.2 325.1 329.8 155

156 FL103181005 Equity and investment fund shares 28049.8 27391.3 29659.0 34901.7 32356.8 41176.6 51168.3 62602.6 156

157 LM103164103 Corporate equity 23970.0 23113.6 24653.0 28747.5 26543.6 33680.5 42498.0 51408.0 157

158 FL103192105 Foreign direct investment in the U.S.: equity 4079.8 4277.7 5006.0 6154.2 5813.2 7496.1 8670.3 11194.7 158

159 FL103152025 Insurance, pension and standardized guarantee schemes 580.2 700.3 682.4 446.0 686.4 494.6 196.7 -1.3 159

160 FL573074005 Pension fund contributions payable 76.1 91.3 100.1 119.3 84.7 80.1 77.7 74.9 160

161 FL573073005 Claim of pension fund on sponsor 504.1 609.0 582.3 326.7 601.7 414.5 118.9 -76.2 161

162 FL103196005 Other accounts payable 7781.9 8367.1 9178.1 9236.8 9597.1 11760.4 11078.4 11755.0 162

163 FL103170005 Trade payables 2079.8 2104.1 2288.3 2369.7 2690.4 2920.5 2764.6 3216.5 163

164 FL103178005 Taxes payable 95.4 74.2 66.1 286.6 275.3 267.7 275.4 251.5 164

165 FL103193005 Miscellaneous liabilities 5606.7 6188.8 6823.6 6580.6 6631.5 8572.2 8038.4 8287.0 165

166 FL102090095 Net worth -10409.6 -9055.5 -10252.6 -13700.6 -10571.5 -17061.2 -25019.7 -32163.6 166

(1) 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.

(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 2004:Q4.

(3) Net equity in reserves of property-casualty insurance companies.

(4) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(5) 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.

(6) Excludes nonproduced nonfinancial assets.
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2014 2015 2016 2017 2018 2019 2020 2021

 

 Current account

 1 FA796902505 Gross value added 1308.7 1391.9 1480.9 1537.6 1663.4 1734.9 1827.5 2046.1 1

 2 FA796300081 Less: Consumption of fixed capital 190.3 199.2 210.7 222.8 235.3 252.2 266.8 286.0 2

 3 FA796902605 Equals: Net value added 1118.3 1192.7 1270.2 1314.8 1428.1 1482.7 1560.7 1760.1 3

 4 FA796025005 Compensation of employees (paid) 681.1 715.7 734.1 787.6 819.1 851.7 910.5 991.9 4

 5 FA796020001 Wages and salaries 582.1 611.2 625.5 668.5 693.1 727.2 787.5 859.7 5

 6 FA796401001 Employers’ social contributions 99.0 104.5 108.7 119.1 126.0 124.5 122.9 132.2 6

 7 FA796240101 Taxes on production and imports less subsidies 63.3 67.2 74.5 68.4 81.9 72.1 75.2 72.2 7

 8 FA796402101 Operating surplus, net 373.9 409.7 461.6 458.7 527.0 558.9 575.0 696.0 8

 9 FA796140005 Net national income/Balance of primary incomes, net 160.4 107.2 211.3 151.7 216.5 150.0 128.3 233.8 9

10 FA796402101 Operating surplus, net 373.9 409.7 461.6 458.7 527.0 558.9 575.0 696.0 10

11 FA796150105 Property income (received) 2096.5 2117.5 2204.5 2409.7 2677.1 2771.2 2468.1 2344.2 11

12 FA796130101 Interest 1594.7 1603.3 1691.1 1826.9 2034.5 2183.7 1806.2 1594.2 12

13 FA796121101 Distributed income of corporations (dividends) 450.3 463.5 467.5 526.4 681.5 559.7 628.9 685.9 13

14 FA793092281 Reinvested earnings on U.S. direct investment abroad 51.4 50.6 46.0 56.3 -38.8 27.7 33.0 64.0 14

15 FA796150005 Less: Uses of property income (paid) 2310.0 2420.1 2454.8 2716.7 2987.6 3180.0 2914.9 2806.4 15

16 FA796130001 Interest 1484.3 1567.8 1614.4 1785.4 2039.6 2139.9 1836.5 1657.5 16

17 FA796120005 Distributed income of corporations 810.1 838.6 827.2 917.1 931.0 1022.3 1066.3 1118.0 17

18 FA796121001 Dividends 787.2 824.6 780.5 859.4 892.9 981.9 1000.3 1045.3 18

19 FA796122001 Withdrawals from income of quasi-corporations (2) 22.9 14.0 46.7 57.7 38.1 40.4 66.0 72.7 19

20 FA793192281 Reinvested earnings on foreign direct investment 15.6 13.7 13.2 14.2 17.0 17.8 12.1 30.8 20

21 FA796112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA796140005 Net national income/Balance of primary incomes, net 160.4 107.2 211.3 151.7 216.5 150.0 128.3 233.8 22

23 FA796220001 Less: Current taxes on income, wealth, etc. (paid) 116.3 113.1 114.3 83.2 85.4 100.8 84.9 107.3 23

24 FA796403005 Less: Other current transfers (paid) 16.1 23.9 66.7 21.5 33.1 46.7 36.6 50.3 24

25 FA796012095 Equals: Disposable income, net 28.0 -29.8 30.3 47.0 98.1 2.5 6.8 76.2 25

26 FA796012095 Equals: Net saving 28.0 -29.8 30.3 47.0 98.1 2.5 6.8 76.2 26

 Capital account

27 FA796006385 Net saving less capital transfers 18.0 -29.8 28.5 -29.6 81.2 2.5 6.8 53.6 27

28 FA796012095 Net saving 28.0 -29.8 30.3 47.0 98.1 2.5 6.8 76.2 28

29 FA795440005 Less: Capital transfers paid (net) 10.0 0.0 1.8 76.6 16.9 0.0 0.0 22.7 29

30 FA795015085 Capital formation, net 28.4 42.3 48.6 37.0 45.8 58.2 30.3 37.1 30

31 FA795013005 Gross fixed capital formation (nonresidential) 218.7 241.5 259.3 259.8 281.1 310.4 297.2 323.1 31

32 FA796300081 Less: Consumption of fixed capital 190.3 199.2 210.7 222.8 235.3 252.2 266.8 286.0 32

33 FA795000995 Net lending (+) or borrowing (-), capital account (lines 27-30) -10.4 -72.0 -20.1 -66.6 35.5 -55.7 -23.5 16.4 33

 Financial account

34 FA795000995 Net lending (+) or borrowing (-) (line 33) -10.4 -72.0 -20.1 -66.6 35.5 -55.7 -23.5 16.4 34

35 FA794090005 Net acquisition of financial assets 2654.4 1212.1 2062.2 2882.6 1690.1 3461.9 9831.9 7513.6 35

36 FA713011203 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 FA794000005 Currency and deposits 207.2 -604.1 -529.8 276.1 -407.2 86.8 1706.7 602.2 37

38 FA794022005 Debt securities 941.4 613.4 1157.6 872.1 1006.8 1141.5 6429.1 3084.5 38

39 FA793069175 Open market paper -43.3 9.0 -87.2 92.0 1.3 -10.9 -45.0 19.2 39

40 FA793061105 Treasury securities 661.8 343.8 770.7 133.0 737.1 698.2 4561.5 1320.7 40

41 FA793061705 Agency- and GSE-backed securities (3) 77.4 11.2 300.2 270.0 -18.1 194.0 1017.7 641.8 41

42 FA793062005 Municipal securities 5.5 48.5 24.3 44.4 -46.5 67.9 117.2 174.0 42

43 FA793063005 Corporate and foreign bonds 240.1 201.0 149.5 332.8 333.0 192.4 777.7 928.8 43

44 FA794035005 Loans 791.0 818.6 893.0 1336.2 1183.6 1369.1 892.2 2854.2 44

45 FA794041005 Short term 590.5 443.6 393.6 759.1 598.3 795.6 157.9 1632.1 45

46 FA794042005 Long term 200.5 375.0 499.4 577.2 585.4 573.5 734.3 1222.0 46

47 FA793081005 Equity and investment fund shares 111.8 255.1 48.4 93.4 -79.8 -19.7 -122.6 134.8 47

48 FA793064105 Corporate equities -4.9 235.2 -172.2 79.6 -142.7 -223.1 -372.3 86.1 48

49 FA793064205 Mutual fund shares 25.9 -13.8 -82.1 -32.1 -100.9 -54.6 -52.2 -328.9 49

50 FA793034005 Money market fund shares 6.9 -65.2 139.3 14.3 30.7 135.7 171.4 198.7 50

51 FA793092405 Equity in government-sponsored enterprises (3) 0.3 0.7 1.9 1.4 0.8 -4.0 -7.1 -2.3 51

52 FA793092105 U.S. direct investment abroad: equity 20.3 22.7 52.4 49.1 -3.1 57.5 58.3 79.1 52

53 FA713164003 Stock in Federal Reserve Banks 1.1 0.9 1.0 0.9 0.9 -0.6 0.7 1.5 53

54 FA793094605 Equity investment in subsidiaries 62.1 74.6 108.3 -19.7 134.3 69.4 78.7 100.6 54

55 FA793052005 Insurance, pension and standardized guarantee schemes 268.9 288.4 401.0 267.0 294.5 273.6 373.1 370.0 55

56 FA793096005 Other accounts receivable 334.0 -159.3 92.1 37.7 -307.9 610.6 553.4 467.9 56
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57 FA794194005 Net incurrence of liabilities 2625.6 1203.6 1814.2 2932.2 1589.1 3450.2 9696.7 7133.1 57

58 FA794100005 Currency and deposits 935.0 237.1 459.7 792.8 494.3 866.3 6597.7 1753.0 58

59 FA794122005 Debt securities 135.6 207.0 309.0 378.3 272.2 497.5 951.7 799.1 59

60 FA423161705 Agency- and GSE-backed securities (3) 150.3 220.4 351.7 346.6 246.9 318.6 658.2 612.9 60

61 FA793163005 Corporate bonds 40.3 -34.6 -12.4 44.8 59.4 105.1 270.6 232.4 61

62 FA793169175 Commercial paper -55.0 21.1 -30.2 -13.1 -34.1 73.8 23.0 -46.2 62

63 FA794135005 Loans 208.5 29.4 168.1 63.8 -28.9 140.2 -147.2 1858.9 63

64 FA794141005 Short term 188.9 8.2 60.0 57.5 21.3 151.4 -155.1 1863.1 64

65 FA794142005 Long term 19.6 21.1 108.1 6.3 -50.1 -11.2 7.9 -4.3 65

66 FA793181005 Equity and investment fund shares 669.2 463.3 249.6 920.6 528.2 1243.5 1236.1 1543.5 66

67 FA634090005 Money market fund shares 25.7 5.2 -123.0 165.3 169.2 712.8 763.5 439.5 67

68 FA793164105 Corporate equity issues 249.4 228.1 255.6 419.0 199.0 209.9 499.4 843.8 68

69 FA653164205 Mutual fund shares 311.0 98.7 28.4 317.7 -64.0 208.3 -229.1 215.7 69

70 FA403192405 Equity in government-sponsored enterprises (3) 1.2 1.3 2.7 4.2 1.1 -3.7 -6.8 -0.9 70

71 FA793192105 Foreign direct investment in the U.S.: equity 14.4 49.2 -40.7 32.2 78.1 42.2 9.0 20.1 71

72 FA662090003 Equity in noncorporate business 4.3 5.3 17.3 1.0 9.5 5.2 6.9 15.8 72

73 FA793194605 Equity investment by parent 62.1 74.6 108.3 -19.7 134.3 69.4 78.7 100.6 73

74 FA713164005 Equity in Federal Reserve Banks 1.1 0.9 1.0 0.9 0.9 -0.6 2.2 0.0 74

75 FA503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 112.5 -91.2 75

76 FA583152005 Insurance, pension and standardized guarantee schemes 431.8 497.8 501.0 626.5 442.8 534.7 733.9 568.6 76

77 FA793196005 Other accounts payable 245.5 -230.9 126.7 150.2 -119.5 167.9 324.4 610.0 77

 Addendum:

78 FA795000005 Net lending (+) or borrowing (-), financial account (lines 35-57) 28.8 8.6 248.0 -49.6 101.0 11.8 135.3 380.5 78

 Other changes in volume account

79 FV798090185 Total other volume changes -78.1 64.4 342.0 -50.9 241.6 -226.8 251.8 455.4 79

80 FV795013865 Disaster losses 0.0 0.0 0.0 -1.8 -2.4 0.0 0.0 -0.4 80

81 FV798090085 Other volume changes -117.3 -16.2 74.0 -66.0 178.4 -294.3 93.0 91.7 81

82 FU797005045 Less: Statistical discrepancy (lines 33-78) (4) -39.2 -80.6 -268.1 -17.0 -65.5 -67.5 -158.8 -364.1 82

 Revaluation account

83 FR795013865 Nonfinancial assets 23.0 12.9 14.5 31.5 59.3 41.4 25.9 252.8 83

84 FR795013665 Structures (nonresidential) 23.6 19.5 17.9 33.1 56.3 43.3 19.8 211.2 84

85 FR795013265 Equipment 0.7 -3.8 -3.3 -0.5 3.4 -1.2 4.2 43.4 85

86 FR795013765 Intellectual property products -1.4 -2.8 -0.2 -1.1 -0.5 -0.6 1.9 -1.8 86

87 FR794090085 Financial assets 1495.1 -1009.9 1198.7 3823.5 -2699.9 6197.2 4541.7 4326.3 87

88 FR794022005 Debt securities 633.9 -490.7 -40.3 212.2 -640.3 1297.5 848.8 -1001.4 88

89 FR793092305 U.S. direct investment abroad: debt 1.2 0.7 -2.5 1.5 -0.1 -0.1 0.0 0.0 89

90 FR793064105 Corporate equities 977.3 -458.4 1174.9 3385.1 -1815.0 4517.7 3578.9 5189.2 90

91 FR793064205 Mutual fund shares 223.3 -120.9 341.7 767.9 -402.0 1054.8 815.0 956.6 91

92 FR793092105 U.S. direct investment abroad: equity -41.8 -88.0 7.7 160.8 -199.5 192.5 82.3 202.3 92

93 FR593052025 Insurance, pension, and standardized guarantee schemes -298.8 147.5 -282.8 -704.0 357.0 -865.1 -783.4 -1020.4 93

94 FR794190085 Liabilities 1602.3 -796.6 1967.7 4439.4 -2793.3 6645.3 4065.9 7617.0 94

95 FR793192305 Foreign direct investment in the U.S.: debt -1.7 0.4 -8.9 6.0 4.2 -4.1 -1.5 -8.0 95

96 FR793164105 Corporate equity issues 648.8 -242.6 771.9 1266.5 -981.1 2003.5 425.3 3370.8 96

97 FR653164205 Mutual fund shares 506.7 -352.1 689.9 1965.7 -1165.2 2781.4 2132.1 2430.5 97

98 FR793192105 Foreign direct investment in the U.S.: equity 49.7 -38.7 38.3 123.5 -119.6 266.5 226.9 301.9 98

99 FR662090003 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 99

100 FR793194605 Equity investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100

101 FR583152005 Insurance, pension and standardized guarantee schemes 398.8 -163.5 476.6 1077.6 -531.6 1597.9 1283.2 1521.7 101

102 FR798200005 Changes in net worth due to nominal holding gains/losses -84.2 -200.3 -754.5 -584.4 152.7 -406.7 501.6 -3037.9 102

 Changes in balance sheet account

103 FC792090095 Change in net worth (lines 30+33+79+102) -144.3 -165.7 -384.0 -664.9 475.5 -631.0 760.2 -2528.9 103

 Balance sheet account (end of period)

104 FL792000095 Total assets 91602.3 91378.2 94859.8 101693.8 101004.6 110890.0 125469.1 137926.1 104

105 LM795013865 Nonfinancial assets (5) 1738.8 1794.1 1857.1 1923.8 2026.4 2126.0 2182.1 2471.6 105

106 LM795013665 Structures (nonresidential) 1021.4 1038.9 1059.7 1096.4 1158.3 1213.1 1243.7 1460.0 106

107 LM795013265 Equipment 552.7 582.0 607.2 620.5 642.6 658.9 655.8 697.8 107

108 LM795013765 Intellectual property products 164.7 173.2 190.2 206.8 225.4 253.9 282.7 313.9 108
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109 FL794090005 Financial assets 89863.4 89584.1 93002.6 99770.0 98978.2 108764.1 123287.0 135454.4 109

110 FL713011203 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 110

111 FL794000005 Currency and deposits 4214.2 3593.3 3074.4 3383.1 2975.5 3049.3 4757.4 5357.5 111

112 FL794022005 Debt securities 23671.0 23769.4 24893.1 25971.1 26339.6 28883.4 36105.6 38275.3 112

113 FL793069175 Open market paper 604.2 614.6 527.8 618.8 620.6 613.2 511.2 616.9 113

114 FL793061105 Treasury securities 7143.2 7404.3 8110.3 8256.9 8948.2 9871.4 14727.7 15700.9 114

115 FL793061705 Agency- and GSE-backed securities (3) 6553.2 6478.9 6717.3 7001.0 6910.0 7333.4 8412.6 8844.1 115

116 FL793062005 Municipal securities 1987.9 2033.7 2021.9 2096.5 2009.7 2146.2 2316.5 2469.5 116

117 FL793063005 Corporate and foreign bonds 7382.5 7237.9 7515.8 7997.8 7851.1 8919.2 10137.7 10643.8 117

118 FL794035005 Loans 22784.0 23419.9 24274.3 25665.8 26825.9 28175.4 29063.7 31930.4 118

119 FL794041005 Short term 9771.5 10041.3 10434.9 11274.8 11876.7 12671.3 12833.9 14466.0 119

120 FL794042005 Long term 13012.5 13378.5 13839.3 14391.0 14949.2 15504.1 16229.8 17464.4 120

121 FL793081005 Equity and investment fund shares 25597.5 24907.0 26435.7 30810.0 28333.1 33658.5 38006.2 44462.8 121

122 LM793064105 Corporate equities 16449.2 16226.0 17228.7 20693.5 18735.7 22718.9 25900.5 31165.8 122

123 LM793064205 Mutual fund shares 5115.1 4980.4 5239.9 5975.7 5472.7 6325.9 7088.7 7716.4 123

124 FL793034005 Money market fund shares 631.5 566.4 705.6 719.9 750.6 886.4 1057.8 1256.5 124

125 FL793092405 Equity in government-sponsored enterprises (3) 33.7 34.4 36.3 37.7 38.5 34.5 27.4 25.1 125

126 LM793092105 U.S. direct investment abroad: equity 987.3 842.7 917.7 1119.5 924.4 1236.0 1431.9 1704.7 126

127 FL713164003 Stock in Federal Reserve Banks 28.6 29.5 30.4 31.4 32.3 31.7 32.4 33.9 127

128 FL793094605 Equity investment in subsidiaries 2352.1 2227.8 2277.0 2232.5 2378.7 2425.2 2467.6 2560.4 128

129 FL793052005 Insurance, pension and standardized guarantee schemes 7569.9 8075.8 8292.7 7967.4 8719.0 8327.2 7990.6 7410.8 129

130 FL793096005 Other accounts receivable 6015.8 5807.7 6021.5 5961.6 5774.1 6659.3 7352.4 8006.6 130

131 FL792100005 Total liabilities and net worth 91602.3 91378.2 94859.8 101693.8 101004.6 110890.0 125469.1 137926.1 131

132 FL794194005 Liabilities 91990.3 91931.9 95797.4 103296.3 102131.7 112648.1 126467.0 141452.9 132

133 FL794100005 Currency and deposits 16704.4 16941.5 17401.2 18194.0 18688.4 19554.6 26152.3 27905.3 133

134 FL794122005 Debt securities 12781.4 12755.1 12936.3 13278.1 13535.1 14025.6 14971.3 15764.6 134

135 FL423161705 Agency- and GSE-backed securities (3) 7924.0 8144.4 8496.1 8842.7 9089.6 9408.3 10066.5 10679.4 135

136 FL793163005 Corporate bonds 4322.3 4054.4 3914.2 3922.5 3966.6 4064.8 4329.3 4555.8 136

137 FL793169175 Commercial paper 535.1 556.3 526.0 512.9 478.8 552.6 575.6 529.4 137

138 FL794135005 Loans 5068.9 5101.5 5260.8 5330.5 5305.9 5438.2 5289.5 7169.7 138

139 FL794141005 Short term 4743.7 4754.8 4814.8 4872.3 4893.6 5045.0 4889.9 6751.8 139

140 FL794142005 Long term 325.2 346.7 445.9 458.2 412.3 393.3 399.6 417.9 140

141 FL793181005 Equity and investment fund shares 26851.4 26486.0 28156.1 32394.7 30625.9 36922.7 40944.7 48563.0 141

142 FL634090005 Money market fund shares 3073.0 3078.2 2955.2 3120.5 3289.7 4002.5 4765.9 5205.5 142

143 LM793164105 Corporate equity issues 7355.8 7341.3 8368.7 10054.2 9272.1 11485.5 12410.2 16624.9 143

144 LM653164205 Mutual fund shares 13150.6 12897.2 13615.6 15899.0 14669.8 17659.5 19562.6 22208.8 144

145 FL403192405 Equity in government-sponsored enterprises (3) 42.9 44.2 46.9 51.1 52.2 48.6 41.8 40.9 145

146 LM793192105 Foreign direct investment in the U.S.: equity 803.2 817.4 794.4 937.2 852.7 1186.2 1460.0 1761.4 146

147 LM662090003 Equity in noncorporate business 45.1 50.4 67.7 68.7 78.2 83.5 90.3 106.1 147

148 FL793194605 Equity investment by parent 2352.1 2227.8 2277.0 2232.5 2378.7 2425.2 2467.6 2560.4 148

149 FL713164005 Equity in Federal Reserve Banks 28.6 29.5 30.4 31.4 32.3 31.7 33.9 33.9 149

150 FL503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 112.5 21.3 150

151 FL583152005 Insurance, pension and standardized guarantee schemes 27125.7 27529.9 28623.6 30439.5 30450.9 32853.9 34938.1 37135.6 151

152 FL793196005 Other accounts payable 3458.5 3117.9 3419.4 3659.4 3525.6 3853.0 4171.0 4914.7 152

153 FL792090095 Net worth -388.0 -553.7 -937.6 -1602.5 -1127.1 -1758.1 -997.9 -3526.8 153

(1) 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.

(2) 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.

(3) 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 2004:Q4.

(4) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(5) Excludes land. Includes corporate and noncorporate financial business.
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 Current account

 1 FA716902505 Gross value added 4.1 4.1 7.4 14.5 20.6 19.7 5.6 3.5 1

 2 FA716330085 Less: Consumption of fixed capital 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.9 2

 3 FA716902605 Equals: Net value added 3.3 3.4 6.6 13.7 19.8 18.9 4.7 2.6 3

 4 FA716025005 Compensation of employees (paid) 2.3 2.3 2.5 2.7 2.8 3.0 3.1 3.3 4

 5 FA716020001 Wages and salaries 2.0 2.1 2.2 2.3 2.5 2.6 2.8 3.0 5

 6 FA716401001 Employers’ social contributions 0.3 0.3 0.3 0.3 0.3 0.4 0.3 0.4 6

 7 FA716240101 Taxes on production and imports less subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA716402101 Operating surplus, net 1.1 1.0 4.1 11.0 17.0 16.0 1.6 -0.8 8

 9 FA716140005 Net national income/Balance of primary incomes, net 7.5 -15.5 2.5 -0.3 -0.6 2.4 1.5 2.4 9

10 FA716402101 Operating surplus, net 1.1 1.0 4.1 11.0 17.0 16.0 1.6 -0.8 10

11 FA716150105 Property income (received) 115.9 113.6 111.1 113.6 112.3 102.7 101.5 122.6 11

12 FA716130101 Interest 115.9 113.6 111.1 113.6 112.3 102.7 101.5 122.6 12

13 FA716121101 Distributed income of corporations (dividends) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

14 FA713092281 Reinvested earnings on U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 FA716150005 Less: Uses of property income (paid) 109.5 130.2 112.6 125.0 129.8 116.3 101.6 119.3 15

16 FA716130001 Interest 11.0 11.3 20.5 43.6 63.5 60.7 14.4 9.7 16

17 FA716120005 Distributed income of corporations 98.6 118.8 92.2 81.3 66.3 55.6 87.3 109.6 17

18 FA716121001 Dividends 98.6 118.8 92.2 81.3 66.3 55.6 87.3 109.6 18

19 FA716122001 Withdrawals from income of quasi-corporations (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA713192281 Reinvested earnings on foreign direct investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 FA716112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA716140005 Net national income/Balance of primary incomes, net 7.5 -15.5 2.5 -0.3 -0.6 2.4 1.5 2.4 22

23 FA716220001 Less: Current taxes on income, wealth, etc. (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 FA716403001 Less: Other current transfers (paid) 1.9 1.9 2.0 2.0 2.0 2.2 2.3 2.6 24

25 FA716012005 Equals: Disposable income, net 5.6 -17.4 0.5 -2.4 -2.6 0.2 -0.8 -0.2 25

26 FA716012005 Equals: Net saving 5.6 -17.4 0.5 -2.4 -2.6 0.2 -0.8 -0.2 26

 Capital account

27 FA716006385 Net saving less capital transfers 5.6 -17.4 0.5 -2.4 -2.6 0.2 -0.8 -0.2 27

28 FA716012005 Net saving 5.6 -17.4 0.5 -2.4 -2.6 0.2 -0.8 -0.2 28

29 FA715440083 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 FA715015085 Capital formation, net -0.2 -0.2 -0.1 -0.1 -0.1 -0.1 0.0 0.0 30

31 FA715013085 Gross fixed capital formation (nonresidential) 0.6 0.6 0.7 0.7 0.7 0.7 0.9 0.9 31

32 FA716330085 Less: Consumption of fixed capital 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.9 32

33 FA715000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 5.8 -17.2 0.6 -2.3 -2.5 0.4 -0.8 -0.2 33

 Financial account

34 FA715000995 Net lending (+) or borrowing (-) (line 33) 5.8 -17.2 0.6 -2.3 -2.5 0.4 -0.8 -0.2 34

35 FA714090005 Net acquisition of financial assets 475.6 -11.4 -31.1 -2.6 -389.8 116.4 3083.6 1480.7 35

36 FA713011203 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 FA714000005 Currency and deposits 1.4 1.9 0.1 0.8 0.5 0.5 0.5 0.3 37

38 FA714022005 Debt securities 472.9 -10.4 -35.8 -10.9 -379.5 -137.5 3217.0 1537.1 38

39 FA713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

40 FA713061103 Treasury securities 236.8 -15.6 -13.3 -21.7 -243.3 99.1 2554.3 961.6 40

41 FA713061705 Agency- and GSE-backed securities (2) 236.1 5.1 -22.5 10.8 -136.2 -236.6 662.7 575.5 41

42 FA714041005 Loans (short term) 1.2 -0.6 4.5 6.6 -7.9 255.1 -144.7 -55.9 42

43 FA713064103 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

44 FA713096105 Other accounts receivable 0.0 -2.3 0.1 0.9 -3.0 -1.7 10.8 -0.8 44

45 FA714190005 Net incurrence of liabilities 474.5 7.1 -31.1 -2.6 -386.6 116.4 3083.7 1480.7 45

46 FA714100005 Currency and deposits 279.7 -197.9 -45.6 157.7 -128.7 83.9 3200.3 -487.5 46

47 FA712151003 Loans 193.9 202.6 12.8 -161.3 -259.9 32.6 -120.6 1967.0 47

48 FA713164005 Equity shares 1.1 0.9 1.0 0.9 0.9 -0.6 2.2 0.0 48

49 FA713193005 Other accounts payable -0.2 1.5 0.6 -0.0 1.1 0.5 1.8 1.3 49

 Addendum:

50 FA715000005 Net lending (+) or borrowing (-), financial account (lines 35-45) 1.1 -18.5 0.0 -0.0 -3.2 0.0 -0.1 -0.1 50
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2014 2015 2016 2017 2018 2019 2020 2021

 

 Other changes in volume account

51 FV718090185 Total other volume changes -4.7 -1.3 -0.6 2.3 -0.7 -0.4 0.7 0.2 51

52 FV712010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

53 FV718090085 Other volume changes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 FU717005045 Less: Statistical discrepancy (lines 33-50) (3) 4.7 1.3 0.6 -2.3 0.7 0.4 -0.7 -0.2 54

 Revaluation account

55 FR712010095 Nonfinancial assets 0.2 0.1 0.1 0.2 0.4 0.3 0.2 1.5 55

56 FR715013665 Structures (nonresidential) 0.2 0.2 0.1 0.2 0.4 0.3 0.2 1.4 56

57 FR715013265 Equipment -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 57

58 FR715013765 Intellectual property products -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 58

59 FR714022005 Financial assets (debt securities) 227.3 -67.6 -39.9 13.6 -86.3 166.8 193.4 -226.1 59

60 FR718200005 Changes in net worth due to nominal holding gains/losses 227.5 -67.4 -39.8 13.8 -85.9 167.1 193.6 -224.7 60

 Changes in balance sheet account

61 FC712090095 Change in net worth (lines 30+33+51+60) 228.4 -86.2 -39.9 13.7 -89.2 166.9 193.5 -224.7 61

 Balance sheet account (end of period)

62 FL712000095 Total assets 4721.2 4642.2 4571.2 4582.3 4106.5 4389.9 7667.1 8923.1 62

63 LM712010095 Nonfinancial assets (4) 10.2 10.2 10.2 10.3 10.6 10.8 11.0 12.5 63

64 LM715013665 Structures (nonresidential) 7.9 8.0 8.0 8.1 8.4 8.6 8.7 10.0 64

65 LM715013265 Equipment 1.5 1.4 1.3 1.3 1.2 1.1 1.1 1.1 65

66 LM715013765 Intellectual property products 0.8 0.8 0.9 1.0 1.0 1.1 1.2 1.4 66

67 FL714090005 Financial assets 4711.0 4632.0 4561.0 4572.0 4095.9 4379.1 7656.1 8910.6 67

68 FL713011203 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 68

69 FL714000005 Currency and deposits 66.7 67.0 67.1 69.6 69.7 70.0 71.9 70.5 69

70 LM714022005 Debt securities 4599.3 4521.3 4445.6 4448.3 3982.6 4011.9 7422.2 8733.2 70

71 FL713069603 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 71

72 LM713061103 Treasury securities 2736.3 2675.9 2640.7 2633.0 2338.0 2540.7 5254.6 6052.1 72

73 LM713061705 Agency- and GSE-backed securities (2) 1863.0 1845.4 1804.9 1815.3 1644.6 1471.1 2167.7 2681.1 73

74 FL714041005 Loans (short term) 1.7 1.1 5.6 12.2 4.3 259.4 114.7 58.8 74

75 FL713064103 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 75

76 FL713096105 Other accounts receivable 32.3 31.5 31.7 30.9 28.3 26.9 36.3 37.2 76

77 FL712100005 Total liabilities and net worth 4721.2 4642.2 4571.2 4582.3 4106.5 4389.9 7667.1 8923.1 77

78 FL714190005 Liabilities 4513.4 4520.5 4489.4 4486.8 4100.2 4216.6 7300.3 8781.0 78

79 FL714100005 Currency and deposits 3970.0 3772.2 3726.6 3884.3 3755.6 3839.5 7039.8 6552.3 79

80 FL712151003 Loans 509.8 712.4 725.2 564.0 304.0 336.6 216.1 2183.0 80

81 FL713164005 Equity shares 28.6 29.5 30.4 31.4 32.3 31.7 33.9 33.9 81

82 FL713193005 Other accounts payable 5.0 6.5 7.2 7.1 8.2 8.7 10.5 11.8 82

83 FL712090095 Net worth 207.8 121.6 81.8 95.5 6.4 173.3 366.8 142.2 83

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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Billions of dollars

2014 2015 2016 2017 2018 2019 2020 2021

 

 Current account

 1 FA706902505 Gross value added 303.8 348.7 375.9 443.0 510.4 510.2 510.5 522.6 1

 2 FA706300081 Less: Consumption of fixed capital 33.4 34.3 36.3 38.7 42.4 48.8 54.4 59.0 2

 3 FA706902605 Equals: Net value added 270.4 314.4 339.6 404.3 468.0 461.4 456.1 463.6 3

 4 FA706025005 Compensation of employees (paid) 169.6 180.3 181.8 183.1 208.3 211.0 226.6 240.6 4

 5 FA706020001 Wages and salaries 144.7 153.9 155.1 155.9 176.8 180.7 196.6 209.5 5

 6 FA706401001 Employers’ social contributions 24.9 26.4 26.7 27.2 31.5 30.3 30.0 31.1 6

 7 FA706240101 Taxes on production and imports less subsidies 9.5 10.1 12.0 12.5 12.6 13.1 16.1 15.5 7

 8 FA706402101 Operating surplus, net 91.3 124.0 145.8 208.7 247.1 237.3 213.4 207.5 8

 9 FA706140005 Net national income/Balance of primary incomes, net 119.3 123.3 141.2 183.5 124.8 83.9 166.5 104.4 9

10 FA706402101 Operating surplus, net 91.3 124.0 145.8 208.7 247.1 237.3 213.4 207.5 10

11 FA706150105 Property income (received) 275.8 281.4 300.4 339.1 360.4 399.6 325.5 290.4 11

12 FA706130101 Interest 257.8 264.5 286.2 322.4 367.8 390.3 316.2 274.7 12

13 FA706121101 Distributed income of corporations (dividends) 2.7 3.0 2.0 2.1 2.7 2.4 1.6 1.4 13

14 FA703092281 Reinvested earnings on U.S. direct investment abroad 15.3 13.9 12.2 14.6 -10.1 6.9 7.7 14.3 14

15 FA706150005 Less: Uses of property income (paid) 247.8 282.1 305.0 364.3 482.7 553.0 372.4 393.5 15

16 FA706130001 Interest 152.2 173.3 198.2 238.4 313.0 365.7 285.6 230.3 16

17 FA706120005 Distributed income of corporations 89.9 104.4 102.7 121.5 164.3 181.9 83.5 155.2 17

18 FA706121001 Dividends 89.8 104.3 102.6 121.4 164.2 181.7 83.3 155.0 18

19 FA706122001 Withdrawals from income of quasi-corporations (1) 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 19

20 FA703192281 Reinvested earnings on foreign direct investment 5.7 4.4 4.1 4.4 5.4 5.4 3.3 8.0 20

21 FA706112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA706140005 Net national income/Balance of primary incomes, net 119.3 123.3 141.2 183.5 124.8 83.9 166.5 104.4 22

23 FA706220001 Less: Current taxes on income, wealth, etc. (paid) 37.4 36.0 34.9 21.8 24.1 29.4 25.3 33.9 23

24 FA706403001 Less: Other current transfers (paid) 6.7 7.3 8.1 8.6 9.4 10.0 9.8 11.0 24

25 FA706012005 Equals: Disposable income, net 75.2 80.0 98.2 153.1 91.3 44.5 131.4 59.5 25

26 FA706012005 Equals: Net saving 75.2 80.0 98.2 153.1 91.3 44.5 131.4 59.5 26

 Capital account

27 FA706006385 Net saving less capital transfers 75.2 80.0 98.2 148.5 91.3 44.5 131.4 59.5 27

28 FA706012005 Net saving 75.2 80.0 98.2 153.1 91.3 44.5 131.4 59.5 28

29 FA705440083 Less: Capital transfers paid (net) 0.0 0.0 0.0 4.6 0.0 0.0 0.0 0.0 29

30 FA705015085 Capital formation, net -4.4 2.2 4.6 6.3 11.1 25.3 11.7 12.4 30

31 FA705013081 Gross fixed capital formation (nonresidential) 29.0 36.5 40.9 45.0 53.5 74.0 66.1 71.4 31

32 FA706300081 Less: Consumption of fixed capital 33.4 34.3 36.3 38.7 42.4 48.8 54.4 59.0 32

33 FA705000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 79.6 77.8 93.6 142.2 80.2 19.3 119.7 47.1 33

 Financial account

34 FA705000995 Net lending (+) or borrowing (-) (line 33) 79.6 77.8 93.6 142.2 80.2 19.3 119.7 47.1 34

35 FA704090005 Net acquisition of financial assets 949.0 521.7 731.9 866.7 417.5 765.4 3231.7 2386.2 35

36 FA704000005 Currency and deposits 149.5 -389.6 -209.7 195.7 -388.4 -2.9 1466.8 639.6 36

37 FA703025005 Vault cash 2.1 -1.5 1.8 1.2 4.9 1.4 15.8 -8.7 37

38 FA713113003 Reserves at the Federal Reserve 148.9 -387.6 -211.0 194.8 -393.1 -7.1 1446.1 649.3 38

39 FA403197033 Deposits at Federal Home Loan Banks -1.5 -0.5 -0.4 -0.3 -0.2 2.8 4.9 -1.0 39

40 FA704022005 Debt securities 181.5 203.0 293.6 133.7 98.7 237.0 1092.5 1335.9 40

41 FA703069175 Open market paper 0.0 0.0 0.0 -0.0 0.2 0.5 1.6 -2.1 41

42 FA703061105 Treasury securities 192.4 37.9 121.9 -37.3 124.3 126.7 303.2 467.4 42

43 FA703061705 Agency- and GSE-backed securities (2) 5.7 140.5 144.4 168.1 52.4 115.1 694.0 605.9 43

44 FA703062005 Municipal securities 32.7 45.3 47.2 20.4 -40.0 -29.1 72.3 54.4 44

45 FA703063005 Corporate and foreign bonds -49.3 -20.7 -19.9 -17.5 -38.2 23.7 21.5 210.3 45

46 FA704035005 Loans 597.4 694.8 590.6 521.3 783.2 493.9 491.0 232.7 46

47 FA704041005 Short term 446.4 441.4 294.4 306.7 610.7 283.4 405.6 22.0 47

48 FA704042005 Long term 150.9 253.3 296.2 214.6 172.5 210.5 85.4 210.6 48

49 FA703081005 Equity and investment fund shares 2.1 -6.6 -6.7 14.1 -0.3 7.4 0.1 15.4 49

50 FA703064105 Corporate equities 0.7 2.0 -6.9 -2.0 2.5 0.8 2.9 2.4 50

51 FA703064205 Mutual fund shares -0.8 -1.0 -1.9 0.2 -3.1 1.4 2.4 3.6 51

52 FA703092405 Equity in government-sponsored enterprises (2) -0.0 -0.9 2.0 1.4 0.5 -4.6 -9.7 -3.4 52

53 FA763092100 U.S. direct investment abroad: equity 1.2 -7.5 -0.9 13.6 -1.1 10.4 3.8 11.3 53

54 FA713164003 Stock in Federal Reserve Banks 1.1 0.9 1.0 0.9 0.9 -0.6 0.7 1.5 54

55 FA763040005 Insurance, pension and standardized guarantee schemes 5.7 6.6 5.6 6.4 3.9 6.7 6.1 13.3 55

56 FA703096105 Other accounts receivable 12.9 13.5 58.4 -4.6 -79.6 23.3 175.2 149.3 56

57 FA704194005 Net incurrence of liabilities 994.2 557.4 683.1 780.4 582.8 891.6 3151.2 2196.2 57
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58 FA704100005 Currency and deposits 649.1 432.7 499.0 623.4 620.2 773.5 3369.3 2201.1 58

59 FA703127005 Checkable deposits 198.8 102.5 106.6 183.6 55.9 182.6 2533.9 1358.9 59

60 FA703130205 Other deposits 450.3 330.2 392.5 439.8 564.3 590.9 835.4 842.2 60

61 FA704122005 Debt securities -31.1 52.1 -55.3 -40.4 -47.7 60.8 103.1 -99.8 61

62 FA763163005 Corporate bonds -12.2 19.3 -33.6 -24.6 -18.0 20.9 54.8 -49.4 62

63 FA703169175 Commercial paper -19.0 32.7 -21.6 -15.8 -29.7 39.8 48.4 -50.5 63

64 FA704135005 Loans 91.3 34.9 107.5 112.3 -86.8 -31.4 -200.6 -127.6 64

65 FA704141005 Short term 92.0 35.7 102.2 115.3 -82.6 -27.5 -198.3 -125.7 65

66 FA753192305 Long term (foreign direct investment in the U.S.: debt) -0.8 -0.8 5.3 -3.0 -4.3 -3.9 -2.3 -1.9 66

67 FA703181105 Equity and investment fund shares 67.5 64.7 73.0 70.6 114.7 89.8 89.2 140.7 67

68 FA763164103 Corporate equity issues 0.4 6.8 -5.0 2.8 -5.2 1.4 1.9 2.3 68

69 FA753192103 Foreign direct investment in the U.S.: equity 4.5 1.2 5.6 10.3 12.8 5.5 7.9 -1.7 69

70 FA703194605 Equity investment by parent 62.6 56.6 72.3 57.5 107.1 83.0 79.4 140.0 70

71 FA703196005 Other accounts payable 217.6 -26.9 58.8 14.4 -17.6 -1.1 -209.9 81.9 71

 Addendum:

72 FA705000005 Net lending (+) or borrowing (-), financial account (lines 35-57) -45.2 -35.7 48.8 86.3 -165.3 -126.1 80.5 189.9 72

 Other changes in volume account

73 FV708090185 Total other volume changes -67.2 -113.2 -60.3 -141.6 -200.0 -224.2 12.9 38.0 73

74 FV702010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 74

75 FV708090085 Other volume changes 57.5 0.3 -15.5 -85.8 45.5 -78.8 52.1 -104.9 75

76 FU707005045 Less: Statistical discrepancy (lines 33-72) (3) 124.7 113.5 44.8 55.9 245.5 145.4 39.2 -142.9 76

 Revaluation account

77 FR702010095 Nonfinancial assets 5.6 3.1 3.1 8.0 14.9 9.8 5.7 61.0 77

78 FR705013665 Structures (nonresidential) 6.1 5.1 4.3 8.1 14.9 11.3 5.6 56.7 78

79 FR705013265 Equipment -0.3 -1.5 -1.0 0.3 0.3 -1.2 0.0 5.0 79

80 FR705013765 Intellectual property products -0.3 -0.5 -0.1 -0.4 -0.2 -0.3 0.1 -0.6 80

81 FR704090085 Financial assets 50.6 -63.7 -25.6 60.7 -104.1 173.9 112.9 -94.7 81

82 FR704022005 Debt securities 66.0 -37.2 -29.1 13.2 -47.5 118.8 92.3 -148.7 82

83 FR763092305 U.S. direct investment abroad: debt 0.4 0.2 -0.7 0.4 -0.0 -0.0 0.0 -0.0 83

84 FR703064105 Corporate equities 1.3 -2.2 2.4 4.5 -3.6 6.9 2.3 8.0 84

85 FR703064205 Mutual fund shares 0.3 -0.5 0.3 0.4 -0.6 1.6 2.6 2.1 85

86 FR763092100 U.S. direct investment abroad: equity -17.5 -24.0 1.4 42.3 -52.3 46.6 15.7 43.8 86

87 FR704190085 Liabilities 86.1 -28.1 220.4 235.4 -274.5 436.6 -188.2 462.0 87

88 FR753192305 Foreign direct investment in the U.S.: debt -0.6 0.1 -2.3 0.9 0.6 -0.6 -0.2 -0.9 88

89 FR763164103 Corporate equity issues 83.8 -5.0 205.8 199.5 -245.3 377.1 -242.3 404.9 89

90 FR753192103 Foreign direct investment in the U.S.: equity 3.0 -23.2 17.0 35.0 -29.8 60.0 54.2 58.1 90

91 FR703194605 Equity investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 91

92 FR708200005 Changes in net worth due to nominal holding gains/losses -30.0 -32.4 -242.9 -166.6 185.3 -252.9 306.9 -495.7 92

 Changes in balance sheet account

93 FC702090095 Change in net worth (lines 30+33+73+92) -22.0 -65.6 -205.0 -159.8 76.6 -432.6 451.2 -398.2 93

 Balance sheet account (end of period)

94 FL702000095 Total assets 17205.2 17669.5 18376.1 19262.8 19652.3 20551.0 23965.1 26213.3 94

95 LM702010095 Nonfinancial assets (4) 384.6 392.6 404.0 420.8 449.5 488.1 508.2 584.4 95

96 LM705013665 Structures (nonresidential) 276.8 280.2 285.5 294.8 312.2 330.1 339.7 398.9 96

97 LM705013265 Equipment 82.6 83.2 84.5 87.4 92.5 101.1 106.1 116.4 97

98 LM705013765 Intellectual property products 25.2 29.1 33.9 38.6 44.8 56.9 62.3 69.1 98

99 FL704090005 Financial assets 16820.6 17277.0 17972.1 18842.1 19202.7 20062.8 23456.9 25628.9 99

100 FL704000005 Currency and deposits 2437.5 2047.9 1838.3 2034.0 1645.6 1642.7 3109.5 3749.1 100

101 FL703025005 Vault cash 75.7 74.2 76.0 77.2 82.0 83.4 99.2 90.5 101

102 FL713113003 Reserves at the Federal Reserve 2352.8 1965.2 1754.2 1949.0 1556.0 1548.8 2994.9 3644.3 102

103 FL403197033 Deposits at Federal Home Loan Banks 9.1 8.5 8.1 7.8 7.6 10.4 15.3 14.3 103

104 LM704022005 Debt securities 3699.1 3864.9 4129.5 4276.4 4327.6 4683.3 5868.2 7055.4 104

105 FL703069175 Open market paper 0.0 0.0 0.0 0.0 0.2 0.7 2.3 0.3 105

106 LM703061105 Treasury securities 502.9 537.2 654.1 616.0 736.7 879.3 1203.6 1641.3 106

107 LM703061705 Agency- and GSE-backed securities (2) 1993.9 2117.8 2241.2 2410.7 2445.5 2634.4 3375.7 3883.0 107

108 LM703062005 Municipal securities 468.5 514.2 551.7 578.9 533.5 514.3 593.9 642.8 108

109 LM703063005 Corporate and foreign bonds 733.8 695.7 682.5 670.8 611.8 654.6 692.7 888.0 109
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110 FL704035005 Loans 9411.2 10109.1 10693.8 11211.6 11991.8 12483.3 12977.6 13209.1 110

111 FL704041005 Short term 4868.7 5320.8 5615.2 5921.9 6540.2 6823.6 7234.0 7256.0 111

112 FL704042005 Long term 4542.6 4788.3 5078.5 5289.6 5451.5 5659.7 5743.6 5953.2 112

113 FL703065005 Mortgages 4531.0 4778.4 5070.6 5282.7 5442.4 5654.9 5741.1 5952.5 113

114 FL763092305 U.S. direct investment abroad: debt 11.6 9.9 7.9 6.9 9.1 4.9 2.5 0.6 114

115 FL703081005 Equity and investment fund shares 376.3 338.1 336.4 401.1 345.4 408.4 434.0 503.1 115

116 LM703064105 Corporate equities 34.0 33.8 29.3 31.8 30.7 38.4 43.7 54.1 116

117 LM703064205 Mutual fund shares 14.6 13.1 11.4 12.0 8.2 11.3 16.3 22.0 117

118 FL703092405 Equity in government-sponsored enterprises (2) 30.2 29.2 31.3 32.6 33.1 28.5 18.8 15.4 118

119 LM763092100 U.S. direct investment abroad: equity 269.0 232.5 233.9 293.3 241.0 298.4 322.8 377.7 119

120 FL713164003 Stock in Federal Reserve Banks 28.6 29.5 30.4 31.4 32.3 31.7 32.4 33.9 120

121 FL763040005 Insurance, pension and standardized guarantee schemes 149.6 156.2 161.8 168.2 172.1 178.8 184.8 198.1 121

122 FL703096105 Other accounts receivable 746.9 760.8 812.5 750.9 720.3 666.4 882.9 914.1 122

123 FL702100005 Total liabilities and net worth 17205.2 17669.5 18376.1 19262.8 19652.3 20551.0 23965.1 26213.3 123

124 FL704194005 Liabilities 18045.1 18575.1 19486.7 20533.2 20846.0 22177.3 25140.2 27786.6 124

125 FL704100005 Currency and deposits 12664.1 13096.8 13595.9 14219.3 14839.5 15612.9 18982.2 21183.3 125

126 FL703127005 Checkable deposits 2017.5 2120.0 2226.6 2410.2 2466.1 2648.7 5182.6 6541.5 126

127 FL703130205 Other deposits 10646.6 10976.8 11369.3 11809.1 12373.3 12964.2 13799.6 14641.8 127

128 FL704122005 Debt securities 429.5 481.6 426.3 385.9 338.3 399.0 502.1 402.3 128

129 FL763163005 Corporate bonds 237.6 257.0 223.3 198.8 180.8 201.7 256.5 207.1 129

130 FL703169175 Commercial paper 191.9 224.6 203.0 187.2 157.5 197.3 245.7 195.2 130

131 FL704135005 Loans 1142.4 1177.4 1282.6 1395.8 1309.6 1277.6 1076.8 948.4 131

132 FL704141005 Short term 1111.1 1146.8 1249.0 1364.4 1281.8 1254.3 1056.0 930.3 132

133 FL753192305 Long term (foreign direct investment in the U.S.: debt) 31.3 30.6 33.5 31.4 27.8 23.3 20.8 18.0 133

134 FL703181105 Equity and investment fund shares 2956.3 2993.5 3302.4 3601.5 3445.7 3956.3 3857.4 4449.1 134

135 LM763164103 Corporate equity issues 930.2 932.0 1132.8 1335.1 1084.5 1463.0 1222.7 1629.8 135

136 LM753192103 Foreign direct investment in the U.S.: equity 272.8 251.7 287.4 323.8 311.4 360.6 422.7 467.2 136

137 FL703194605 Equity investment by parent 1753.2 1809.9 1882.2 1942.6 2049.7 2132.7 2212.0 2352.1 137

138 FL703196005 Other accounts payable 852.8 825.8 879.6 930.7 913.1 931.5 721.6 803.5 138

139 FL702090095 Net worth -839.9 -905.5 -1110.5 -1270.3 -1193.7 -1626.3 -1175.1 -1573.4 139

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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 Current account

 1 FA526902505 Gross value added 330.0 390.2 415.7 383.6 415.0 441.4 441.8 441.7 1

 2 FA526300081 Less: Consumption of fixed capital 31.0 32.1 34.0 35.9 37.8 40.7 44.8 50.4 2

 3 FA526902605 Equals: Net value added 299.0 358.2 381.8 347.7 377.1 400.7 397.0 391.3 3

 4 FA526025005 Compensation of employees (paid) 138.4 143.7 143.4 150.4 155.5 163.0 172.4 170.8 4

 5 FA526020001 Wages and salaries 117.4 121.8 121.2 127.3 131.5 139.0 148.7 147.0 5

 6 FA526401001 Employers’ social contributions 20.9 21.9 22.2 23.1 24.0 24.0 23.7 23.8 6

 7 FA526240101 Taxes on production and imports less subsidies 33.8 38.6 40.1 30.7 46.0 34.3 50.1 37.0 7

 8 FA526402101 Operating surplus, net 126.8 176.0 198.3 166.5 175.6 203.4 174.5 183.4 8

 9 FA526140005 Net national income/Balance of primary incomes, net 61.4 69.2 99.6 82.0 101.9 161.3 89.0 72.2 9

10 FA526402101 Operating surplus, net 126.8 176.0 198.3 166.5 175.6 203.4 174.5 183.4 10

11 FA526150105 Property income (received) 288.4 275.7 272.8 291.6 312.4 331.8 275.1 245.8 11

12 FA526130101 Interest 262.2 253.6 256.6 268.2 268.7 290.0 243.5 215.4 12

13 FA526121101 Distributed income of corporations (dividends) 17.2 18.9 17.9 18.2 48.3 36.4 17.8 15.4 13

14 FA523092281 Reinvested earnings on U.S. direct investment abroad 9.1 3.3 -1.6 5.1 -4.6 5.4 13.8 14.9 14

15 FA526150005 Less: Uses of property income (paid) 353.8 382.5 371.5 376.1 386.1 373.9 360.6 357.0 15

16 FA526130001 Interest 334.7 357.5 341.8 343.4 350.9 348.0 344.6 328.2 16

17 FA526120005 Distributed income of corporations 20.1 18.8 22.9 32.5 27.4 23.6 15.9 24.9 17

18 FA526121001 Dividends 15.1 14.4 18.6 28.7 23.6 20.8 14.2 22.8 18

19 FA526122001 Withdrawals from income of quasi-corporations (1) 5.0 4.5 4.3 3.7 3.8 2.8 1.7 2.1 19

20 FA523192281 Reinvested earnings on foreign direct investment -1.0 6.1 6.8 0.2 7.8 2.4 0.1 3.9 20

21 FA526112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA526140005 Net national income/Balance of primary incomes, net 61.4 69.2 99.6 82.0 101.9 161.3 89.0 72.2 22

23 FA526220001 Less: Current taxes on income, wealth, etc. (paid) 38.5 42.2 38.3 25.6 29.6 29.0 25.1 26.9 23

24 FA526403001 Less: Other current transfers (paid) -38.8 -16.4 27.7 -18.1 -8.7 20.3 -3.8 12.6 24

25 FA526012005 Equals: Disposable income, net 61.8 43.4 33.6 74.5 81.1 112.0 67.7 32.8 25

26 FA526012005 Equals: Net saving 61.8 43.4 33.6 74.5 81.1 112.0 67.7 32.8 26

 Capital account

27 FA526006385 Net saving less capital transfers 61.8 43.4 33.6 18.0 64.2 112.0 67.7 10.1 27

28 FA526012005 Net saving 61.8 43.4 33.6 74.5 81.1 112.0 67.7 32.8 28

29 FA525440083 Less: Capital transfers paid (net) 0.0 0.0 0.0 56.5 16.9 0.0 0.0 22.7 29

30 FA525015085 Capital formation, net 0.7 5.9 5.7 4.5 4.6 6.8 11.3 12.7 30

31 FA525013081 Gross fixed capital formation (nonresidential) 31.7 38.0 39.7 40.4 42.5 47.5 56.1 63.1 31

32 FA526300081 Less: Consumption of fixed capital 31.0 32.1 34.0 35.9 37.8 40.7 44.8 50.4 32

33 FA525000995 Net lending (+) or borrowing (-), capital account (lines 27-30) 61.1 37.5 28.0 13.5 59.5 105.2 56.4 -2.6 33

 Financial account

34 FA525000995 Net lending (+) or borrowing (-) (line 33) 61.1 37.5 28.0 13.5 59.5 105.2 56.4 -2.6 34

35 FA524090005 Net acquisition of financial assets 188.1 220.6 229.4 194.5 245.8 246.3 491.3 272.7 35

36 FA523020005 Currency and deposits 11.6 7.1 -15.0 21.9 -2.1 21.4 35.5 14.2 36

37 FA524022005 Debt securities 89.3 119.7 187.1 113.9 133.8 151.6 238.3 242.2 37

38 FA523069105 Open market paper -8.7 -6.7 13.3 -17.5 -7.1 -3.9 4.4 2.6 38

39 FA523061105 Treasury securities 20.6 5.8 31.9 33.2 -20.8 -13.4 7.8 29.1 39

40 FA523061705 Agency- and GSE-backed securities (2) -13.2 -8.6 15.7 12.3 21.8 4.9 -17.2 -52.5 40

41 FA523062005 Municipal securities -8.2 18.4 10.7 -3.8 -41.4 -5.7 0.0 -0.1 41

42 FA523063005 Corporate and foreign bonds 98.9 110.6 115.6 89.6 181.4 169.7 243.1 263.1 42

43 FA524035005 Loans 38.8 43.0 33.4 43.0 64.9 54.5 28.9 53.0 43

44 FA524041005 Short term 12.6 -0.2 -3.6 0.5 -0.9 3.9 3.9 5.5 44

45 FA524042005 Long term 26.2 43.3 36.9 42.6 65.8 50.6 25.0 47.5 45

46 FA523081005 Equity and investment fund shares -44.5 5.0 -91.4 -57.5 -106.4 -75.4 -77.1 -201.1 46

47 FA523064105 Corporate equities -21.9 25.4 -21.7 3.9 -24.3 -0.6 -20.7 -77.0 47

48 FA523064205 Mutual fund shares -32.8 -30.0 -48.1 -74.6 -88.2 -86.5 -98.3 -137.1 48

49 FA523034005 Money market fund shares 2.4 6.2 -20.3 7.6 9.4 6.1 17.8 -5.5 49

50 FA523092405 Equity in government-sponsored enterprises (2) 0.1 0.5 0.4 0.4 0.5 0.6 3.1 1.1 50

51 FA523092105 U.S. direct investment abroad: equity 7.6 3.0 -1.7 5.2 -3.8 5.0 21.1 17.3 51

52 FA523052005 Insurance, pension and standardized guarantee schemes 1.8 30.8 55.2 84.9 79.2 29.7 109.9 143.7 52

53 FA523096005 Other accounts receivable 91.0 15.0 60.1 -11.7 76.5 64.6 155.7 20.8 53

54 FA524194005 Net incurrence of liabilities 138.9 170.6 239.5 205.4 146.5 201.4 490.3 282.2 54

55 FA673090543 Currency and deposits (funding agreements) 7.6 2.9 6.7 12.0 3.1 6.0 23.2 40.5 55

56 FA524135005 Loans 6.4 13.7 13.3 4.5 2.2 2.4 22.3 4.6 56

57 FA524141005 Short term 2.5 6.2 9.9 6.2 9.3 1.2 22.8 5.2 57

58 FA523192305 Long term (foreign direct investment in the U.S.: debt) 3.9 7.4 3.4 -1.7 -7.1 1.2 -0.6 -0.6 58
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59 FA523181105 Equity and investment fund shares -32.4 0.3 4.2 -25.5 -12.1 -18.8 -25.5 -25.8 59

60 FA523164105 Corporate equity issues -31.8 -32.0 -25.1 -28.9 -21.0 -24.7 -18.4 -33.9 60

61 FA523192105 Foreign direct investment in the U.S.: equity -1.7 31.9 29.7 0.8 19.1 5.2 0.1 7.0 61

62 FA523194605 Equity investment by parent 1.1 0.4 -0.4 2.5 -10.1 0.7 -7.2 1.1 62

63 FA523152005 Insurance, pension and standardized guarantee schemes 112.9 172.8 167.3 144.0 153.3 120.0 256.3 152.8 63

64 FA523196005 Other accounts payable 44.4 -19.0 48.0 70.4 0.1 91.8 214.1 110.1 64

 Addendum:

65 FA525000005 Net lending (+) or borrowing (-), financial account (lines 35-54) 49.1 50.1 -10.1 -10.9 99.3 44.8 0.9 -9.5 65

 Other changes in volume account

66 FV528090185 Total other volume changes -26.9 0.2 -17.4 -34.6 65.7 -93.6 -96.4 -14.4 66

67 FV522010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 67

68 FV528090085 Other volume changes -14.9 -12.4 20.7 -10.2 25.9 -33.3 -40.9 -7.4 68

69 FU527005045 Less: Statistical discrepancy (lines 33-65) (3) 12.0 -12.6 38.0 24.4 -39.8 60.3 55.5 7.0 69

 Revaluation account

70 FR522010095 Nonfinancial assets 2.8 1.2 1.7 4.7 8.4 6.0 3.8 34.1 70

71 FR525013665 Structures (nonresidential) 3.4 2.8 2.4 4.9 8.3 6.6 2.8 31.9 71

72 FR525013265 Equipment -0.1 -0.7 -0.4 0.2 0.3 -0.4 0.2 2.6 72

73 FR525013765 Intellectual property products -0.5 -0.9 -0.2 -0.4 -0.2 -0.1 0.8 -0.4 73

74 FR524090085 Financial assets 259.6 -245.2 170.2 469.7 -402.2 976.7 605.6 390.8 74

75 FR524022005 Debt securities 148.4 -168.7 27.2 101.4 -194.6 436.2 247.5 -171.2 75

76 FR523092305 U.S. direct investment abroad: debt 0.3 0.1 -0.5 0.3 -0.0 -0.0 0.0 0.0 76

77 FR523064105 Corporate equities 43.5 -26.5 50.9 120.5 -79.2 209.0 130.7 233.9 77

78 FR523064205 Mutual fund shares 76.1 -31.4 91.1 211.6 -84.5 287.4 205.4 285.2 78

79 FR523092105 U.S. direct investment abroad: equity -8.7 -18.9 1.5 35.8 -43.8 44.1 22.1 42.9 79

80 FR524190085 Liabilities 196.2 -65.3 187.4 417.0 -223.8 627.8 357.0 603.2 80

81 FR523192305 Foreign direct investment in the U.S.: debt -0.4 0.1 -2.3 0.9 0.6 -0.5 -0.2 -1.1 81

82 FR523164105 Corporate equity issues 59.1 -11.0 66.9 88.8 -62.9 144.7 -22.1 170.2 82

83 FR523192105 Foreign direct investment in the U.S.: equity 16.5 5.4 10.3 39.5 -41.4 88.3 81.0 94.2 83

84 FR523194605 Equity investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84

85 FR523152005 Insurance, pension and standardized guarantee schemes 121.0 -59.8 112.6 287.8 -120.1 395.3 298.3 339.9 85

86 FR528200005 Changes in net worth due to nominal holding gains/losses 66.2 -178.7 -15.5 57.4 -169.9 355.0 252.5 -178.3 86

 Changes in balance sheet account

87 FC522090095 Change in net worth (lines 30+33+66+86) 101.2 -135.2 0.8 40.8 -40.0 373.3 223.8 -182.6 87

 Balance sheet account (end of period)

88 FL522000095 Total assets 9315.7 9298.3 9738.9 10411.7 10268.7 11506.3 12620.5 13333.0 88

89 LM522010095 Nonfinancial assets (4) 253.2 260.4 267.8 276.4 289.9 304.0 321.2 370.0 89

90 LM525013665 Structures (nonresidential) 157.3 161.8 164.2 169.1 176.9 182.8 186.4 218.5 90

91 LM525013265 Equipment 45.8 45.7 45.7 45.9 46.6 47.3 49.2 53.9 91

92 LM525013765 Intellectual property products 50.1 53.0 57.9 61.4 66.3 73.9 85.6 97.5 92

93 FL524090005 Financial assets 9062.5 9037.9 9471.1 10135.3 9978.8 11202.3 12299.3 12963.0 93

94 FL523020005 Currency and deposits 98.1 105.2 101.1 123.0 120.9 142.3 177.8 192.0 94

95 LM524022005 Debt securities 4301.6 4252.6 4473.2 4688.4 4627.7 5215.5 5701.2 5772.2 95

96 FL523069105 Open market paper 60.3 53.6 66.9 49.4 42.3 38.4 42.9 45.4 96

97 LM523061105 Treasury securities 310.5 310.1 334.2 377.9 360.5 368.7 398.2 419.3 97

98 LM523061705 Agency- and GSE-backed securities (2) 504.2 477.4 480.8 501.7 491.8 538.1 511.7 448.3 98

99 LM523062005 Municipal securities 520.2 534.8 535.9 536.7 481.6 500.2 532.1 524.3 99

100 LM523063005 Corporate and foreign bonds 2906.4 2876.6 3055.3 3222.7 3251.4 3770.1 4216.4 4334.9 100

101 FL524035005 Loans 577.9 621.1 653.9 697.3 762.2 816.6 845.6 898.5 101

102 FL524041005 Short term 170.3 170.1 166.5 167.0 166.1 170.0 173.9 179.3 102

103 FL524042005 Long term 407.6 451.0 487.4 530.3 596.1 646.7 671.7 719.2 103

104 FL523065005 Mortgages 398.4 443.4 480.9 524.5 588.6 642.0 669.0 718.5 104

105 FL523092305 U.S. direct investment abroad: debt 9.1 7.5 6.5 5.8 7.5 4.6 2.7 0.6 105

106 FL523081005 Equity and investment fund shares 2648.4 2557.7 2623.8 2948.8 2635.0 3136.1 3436.3 3780.1 106

107 LM523064105 Corporate equities 881.8 880.8 910.0 1034.4 930.9 1139.3 1249.3 1406.2 107

108 LM523064205 Mutual fund shares 1477.0 1415.6 1458.7 1595.7 1423.0 1623.9 1731.0 1879.1 108

109 FL523034005 Money market fund shares 74.4 80.5 60.2 67.8 77.2 83.3 101.1 95.7 109

110 FL523092405 Equity in government-sponsored enterprises (2) 3.1 3.5 3.9 4.3 4.8 5.4 8.5 9.6 110

111 FL523092105 U.S. direct investment abroad: equity 212.2 177.2 191.0 246.5 199.0 284.1 346.4 389.5 111
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112 FL523052005 Insurance, pension and standardized guarantee schemes 609.2 640.1 695.3 780.2 859.3 889.4 999.5 1143.3 112

113 FL523096005 Other accounts receivable 827.3 861.4 923.8 897.6 973.9 1002.4 1138.9 1176.8 113

114 FL522100005 Total liabilities and net worth 9315.7 9298.3 9738.9 10411.7 10268.7 11506.3 12620.5 13333.0 114

115 FL524194005 Liabilities 8427.5 8545.3 8985.1 9617.1 9514.2 10378.4 11268.9 12164.0 115

116 FL673090543 Currency and deposits (funding agreements) 61.1 64.0 70.7 82.6 85.7 91.8 114.9 155.4 116

117 FL524135005 Loans 100.7 114.5 125.5 130.9 133.7 135.5 157.6 161.1 117

118 FL524141005 Short term 77.0 83.3 93.2 99.4 108.7 109.9 132.7 137.9 118

119 FL523192305 Long term (foreign direct investment in the U.S.: debt) 23.7 31.2 32.3 31.5 25.0 25.6 24.8 23.1 119

120 FL523181105 Equity and investment fund shares 747.8 755.5 817.0 927.4 788.9 1025.6 1086.1 1318.1 120

121 LM523164105 Corporate equity issues 524.9 481.9 523.6 583.6 499.6 619.6 579.1 715.4 121

122 FL523192105 Foreign direct investment in the U.S.: equity 206.3 256.6 276.8 324.8 280.3 396.2 504.5 599.1 122

123 FL523194605 Equity investment by parent 16.6 17.0 16.6 19.1 9.0 9.7 2.5 3.6 123

124 FL523152005 Insurance, pension and standardized guarantee schemes 6826.5 6939.5 7236.9 7668.6 7701.8 8217.2 8771.8 9264.5 124

125 FL523196005 Other accounts payable 691.3 671.8 735.1 807.5 804.1 908.4 1138.5 1264.9 125

126 FL522090095 Net worth 888.2 753.1 753.8 794.6 754.5 1127.8 1351.6 1169.0 126

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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 Current account

 1 FA596902505 Gross value added 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 FA596300081 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 FA596902605 Equals: Net value added 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 FA596025005 Compensation of employees (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 FA596020001 Wages and salaries 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 FA596401001 Employers’ social contributions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 FA596240101 Taxes on production and imports less subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 FA596402101 Operating surplus, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 FA596140005 Net national income/Balance of primary incomes, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

10 FA596402101 Operating surplus, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

11 FA596150105 Property income (received) 608.8 626.4 633.5 655.5 673.4 692.9 680.5 678.4 11

12 FA596130101 Interest 455.6 465.8 466.7 475.6 492.2 503.8 475.2 460.9 12

13 FA596121101 Distributed income of corporations (dividends) 153.2 160.5 166.8 179.8 181.2 189.2 205.3 217.5 13

14 FA593092281 Reinvested earnings on U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 FA596150005 Less: Uses of property income (paid) 608.8 626.4 633.5 655.5 673.4 692.9 680.5 678.4 15

16 FA596130001 Interest 455.6 465.8 466.7 475.6 492.2 503.8 475.2 460.9 16

17 FA596120005 Distributed income of corporations 153.2 160.5 166.8 179.8 181.2 189.2 205.3 217.5 17

18 FA596121001 Dividends 153.2 160.5 166.8 179.8 181.2 189.2 205.3 217.5 18

19 FA596122001 Withdrawals from income of quasi-corporations (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 FA593192281 Reinvested earnings on foreign direct investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

21 FA596112001 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA596140005 Net national income/Balance of primary incomes, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA596220001 Less: Current taxes on income, wealth, etc. (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 FA596403105 Plus: Other current transfers received, net -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 24

25 FA596012005 Equals: Disposable income, net -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 25

26 FA596012005 Equals: Net saving -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 26

 Capital account

27 FA596006385 Net saving less capital transfers -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 27

28 FA596012005 Net saving -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 28

29 FA595440083 Less: Capital transfers (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 FA595015085 Capital formation, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 FA595013081 Gross fixed capital formation (nonresidential) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

32 FA596300081 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 FA595000995 Net lending (+) or borrowing (-), capital account (lines 27-30) -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 33

 Addenda:

34 FA596403105 Other current transfers received, net (line 24) -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 34

35 FA596403115 Contributions received 1423.8 1475.4 1512.7 1571.2 1640.3 1715.7 1725.4 1807.8 35

36 FA596403125 Claims to pension benefits 821.2 855.6 886.1 923.3 975.5 1032.2 1055.3 1141.0 36

37 FA596403133 Actual employer contributions 557.5 591.9 628.6 699.0 670.8 696.9 724.4 782.5 37

38 FA596403143 Imputed employer contributions -64.3 -90.0 -114.0 -172.6 -123.2 -122.6 -136.6 -156.3 38

39 FA596403153 Actual household contributions 352.8 380.2 400.6 428.3 459.9 491.7 502.7 552.9 39

40 FA596403013 Less: pension service charges for defined benefit (DB) plans 24.8 26.5 29.1 31.4 32.1 33.8 35.2 38.1 40

41 FA596403163 Household pension contribution supplements 608.8 626.4 633.5 655.5 673.4 692.9 680.5 678.4 41

42 FA596403023 Less: pension service charge for defined contribution (DC) plans 6.1 6.5 6.8 7.5 8.6 9.4 10.5 11.6 42

43 FA596403033 Less: benefit payments and withdrawals 1107.6 1160.5 1176.5 1248.9 1328.6 1414.3 1470.4 1535.3 43

44 FA596403043 Less: net change in benefit entitlements from DB plans 195.3 173.6 169.4 154.4 153.4 147.7 130.2 117.6 44

45 FA596403053 Less: net change in assets from current transaction for DC plans 121.0 141.3 166.8 167.9 158.3 153.8 124.8 154.9 45

 Financial account

46 FA595000995 Net lending (+) or borrowing (-) (line 33) -0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 46

47 FA594090005 Net acquisition of financial assets 319.1 325.1 333.6 482.4 289.8 414.9 477.6 415.8 47

48 FA594000005 Currency and deposits 6.9 -0.5 -1.0 -2.3 -12.3 0.1 2.4 -4.2 48

49 FA593020005 Currency and transferable deposits 5.8 3.6 -0.8 -5.6 -6.9 11.3 2.1 1.3 49

50 FA593030005 Time and savings deposits 1.2 -4.1 -0.2 3.3 -5.4 -11.2 0.3 -5.5 50

51 FA594022005 Debt securities 237.1 85.4 156.2 114.9 448.4 8.8 304.4 394.3 51

52 FA593069105 Open market paper 0.5 -3.6 11.2 1.6 -7.2 -7.2 1.8 7.8 52

53 FA593061105 Treasury securities 113.4 56.3 170.0 33.7 388.5 126.7 149.4 295.1 53

54 FA593061705 Agency- and GSE-backed securities (2) 20.0 -11.7 10.9 34.0 25.3 33.5 39.0 -1.5 54

55 FA593062045 Municipal securities -0.2 0.1 0.2 0.7 0.7 -1.0 -0.0 -0.0 55

56 FA593063005 Corporate and foreign bonds 103.4 44.3 -36.2 44.9 41.1 -143.1 114.1 92.9 56
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57 FA594035005 Loans 3.4 -2.5 7.7 148.6 -149.8 14.4 4.0 31.5 57

58 FA594041005 Short term 0.1 -0.3 0.9 151.8 -152.3 16.5 3.7 30.0 58

59 FA593065005 Long term (mortgages) 3.4 -2.2 6.8 -3.2 2.6 -2.1 0.3 1.5 59

60 FA593081005 Equity and investment fund shares -213.5 7.8 -229.2 -68.6 -196.4 -96.6 -81.3 -395.2 60

61 FA593064105 Corporate equities -271.5 -6.6 -212.6 -108.5 -183.9 -150.4 -150.8 -219.8 61

62 FA593064205 Mutual fund shares 59.6 17.2 -32.2 42.3 -9.7 30.4 43.7 -195.4 62

63 FA593034005 Money market fund shares -1.6 -2.8 15.5 -2.4 -2.8 23.4 25.8 20.0 63

64 FA593052025 Insurance, pension and standardized guarantee schemes 256.4 246.9 336.2 171.6 207.5 233.3 253.1 209.0 64

65 FA593093005 Other accounts receivable 28.8 -12.0 63.8 118.2 -7.7 254.8 -5.0 180.4 65

66 FA594190005 Net incurrence of liabilities (pension entitlements) 318.9 325.0 333.7 482.6 289.5 414.7 477.6 415.8 66

 Addendum:

67 FA595000005 Net lending (+) or borrowing (-), financial account (lines 47-66) 0.2 0.1 -0.1 -0.2 0.3 0.2 0.0 0.0 67

 Other changes in volume account

68 FV598090185 Total other volume changes 0.0 0.0 -0.0 -0.0 -0.0 -40.2 71.7 52.1 68

69 FV592010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 69

70 FV598090085 Other volume changes -0.2 -0.1 0.1 0.2 -0.3 -40.4 71.7 52.1 70

71 FU597005045 Less: Statistical discrepancy (lines 33-67) (3) -0.2 -0.1 0.1 0.2 -0.3 -0.2 -0.0 -0.0 71

 Revaluation account

72 FR592010095 Nonfinancial assets 0.1 0.1 0.1 0.2 0.3 0.2 0.1 1.2 72

73 FR595013665 Structures (nonresidential) 0.2 0.1 0.1 0.2 0.3 0.2 0.1 1.2 73

74 FR595013265 Equipment -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 74

75 FR595013765 Intellectual property products -0.0 -0.0 0.0 -0.0 0.0 -0.0 0.0 -0.0 75

76 FR594090085 Financial assets 267.6 -89.0 394.2 815.9 -396.2 1170.3 919.6 1092.9 76

77 FR594022005 Debt securities 47.6 -56.9 12.6 23.7 -94.9 170.4 118.3 -138.0 77

78 FR593064105 Corporate equities 372.0 -90.6 414.1 940.3 -341.5 1099.2 977.6 1582.1 78

79 FR593064205 Mutual fund shares 146.8 -89.0 250.3 555.8 -316.8 765.8 607.1 669.3 79

80 FR593052025 Insurance, pension, and standardized guarantee schemes -298.8 147.5 -282.8 -704.0 357.0 -865.1 -783.4 -1020.4 80

81 FR594190005 Liabilities (pension entitlements) 277.8 -103.7 364.0 789.9 -411.5 1202.6 984.9 1181.8 81

82 FR598200005 Changes in net worth due to nominal holding gains/losses -10.1 14.8 30.3 26.2 15.7 -32.1 -65.2 -87.6 82

 Changes in balance sheet account

83 FC592090095 Change in net worth (lines 30+33+68+82) -10.1 14.8 30.3 26.2 15.7 -72.3 6.5 -35.5 83

 Balance sheet account (end of period)

84 FL592000095 Total assets 20114.9 20421.0 21247.6 22657.9 22651.8 24467.2 26003.3 27672.5 84

85 LM592010095 Nonfinancial assets (4) 8.0 8.0 8.2 8.5 8.6 8.6 8.7 9.9 85

86 LM595013665 Structures (nonresidential) 6.7 6.7 6.7 6.8 7.1 7.2 7.3 8.5 86

87 LM595013265 Equipment 0.4 0.4 0.4 0.5 0.4 0.4 0.4 0.4 87

88 LM595013765 Intellectual property products 0.8 0.9 1.1 1.2 1.1 1.0 1.0 1.1 88

89 FL594090005 Financial assets 20106.9 20413.0 21239.4 22649.4 22643.2 24458.5 25994.6 27662.6 89

90 FL594000005 Currency and deposits 94.3 93.9 92.8 90.5 78.2 65.6 68.0 63.8 90

91 FL593020005 Currency and transferable deposits 55.8 59.4 58.6 53.0 46.1 46.9 49.0 50.3 91

92 FL593030005 Time and savings deposits 38.6 34.5 34.3 37.5 32.1 18.7 19.0 13.5 92

93 LM594022005 Debt securities 3763.8 3792.3 3961.2 4099.8 4453.3 4698.0 5120.7 5377.0 93

94 FL593069105 Open market paper 87.7 84.0 95.3 96.9 89.7 47.5 49.3 57.1 94

95 LM593061105 Treasury securities 2127.5 2176.1 2337.3 2370.6 2779.3 2920.6 3107.1 3357.6 95

96 LM593061705 Agency- and GSE-backed securities (2) 289.6 268.0 277.2 312.3 355.7 401.4 437.8 425.5 96

97 LM593062045 Municipal securities 2.4 2.5 2.7 3.4 4.1 0.1 0.0 0.0 97

98 LM593063005 Corporate and foreign bonds 1256.7 1261.7 1248.7 1316.6 1224.5 1328.5 1526.5 1536.8 98

99 FL594035005 Loans 39.0 36.5 44.2 192.8 43.1 53.6 57.6 89.0 99

100 FL594041005 Short term 6.8 6.5 7.5 159.3 7.0 22.5 26.2 56.2 100

101 FL593065005 Long term (mortgages) 32.2 30.0 36.8 33.6 36.1 31.1 31.4 32.8 101

102 FL593081005 Equity and investment fund shares 8642.2 8470.3 8905.5 10333.0 9478.3 10750.0 12228.4 14074.5 102

103 LM593064105 Corporate equities 4808.0 4710.8 4912.2 5744.0 5218.6 5856.0 6657.8 8010.1 103

104 LM593064205 Mutual fund shares 3623.5 3551.7 3769.8 4368.0 4041.5 4690.6 5341.4 5815.2 104

105 FL593034005 Money market fund shares 210.7 207.9 223.4 221.0 218.2 203.3 229.2 249.2 105

106 FL593052025 Insurance, pension and standardized guarantee schemes 6766.1 7230.6 7382.6 6961.9 7626.6 7194.0 6737.2 5996.3 106
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2014 2015 2016 2017 2018 2019 2020 2021

 

107 FL593093005 Other accounts receivable 801.4 789.4 853.1 971.3 963.6 1697.4 1782.7 2061.9 107

108 FL592000095 Total liabilities and net worth 20114.9 20421.0 21247.6 22657.9 22651.8 24467.2 26003.3 27672.5 108

109 FL594190005 Liabilities (pension entitlements) 20299.2 20590.4 21386.8 22770.9 22749.0 24636.7 26166.4 27871.1 109

110 FL592090095 Net worth -184.3 -169.5 -139.1 -113.0 -97.3 -169.6 -163.0 -198.6 110

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
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S.65.a Other Financial Business (1)

Billions of dollars

2014 2015 2016 2017 2018 2019 2020 2021

 

 Current account

 1 FA856902505 Gross value added 670.8 648.8 681.9 696.5 717.4 763.5 869.7 1078.3 1

 2 FA856300085 Less: Consumption of fixed capital 125.2 132.1 139.7 147.3 154.3 161.9 166.8 175.6 2

 3 FA856902605 Equals: Net value added 545.6 516.7 542.2 549.2 563.1 601.6 702.9 902.7 3

 4 FA856025005 Compensation of employees (paid) 370.8 389.4 406.4 451.5 452.5 474.7 508.4 577.2 4

 5 FA856020005 Wages and salaries 318.0 333.5 347.0 383.0 382.4 404.9 439.5 500.3 5

 6 FA856401005 Employers’ social contributions 52.9 55.9 59.5 68.5 70.1 69.9 68.9 76.9 6

 7 FA856240105 Taxes on production and imports less subsidies 20.0 18.6 22.4 25.2 23.3 24.7 9.0 19.7 7

 8 FA856402105 Operating surplus, net 154.8 108.7 113.3 72.5 87.3 102.2 185.5 305.8 8

 9 FA856140005 Net national income/Balance of primary incomes, net -27.8 -69.8 -32.1 -113.5 -9.6 -97.6 -128.7 54.7 9

10 FA856402105 Operating surplus, net 154.8 108.7 113.3 72.5 87.3 102.2 185.5 305.8 10

11 FA856150105 Property income (received) 807.5 820.4 886.7 1009.9 1218.6 1244.1 1085.5 1007.0 11

12 FA856130105 Interest 503.2 505.8 570.5 647.1 793.4 896.9 669.7 520.6 12

13 FA856121105 Distributed income of corporations (dividends) 277.2 281.1 280.8 326.3 449.3 331.8 404.2 451.6 13

14 FA853092285 Reinvested earnings on U.S. direct investment abroad 27.0 33.5 35.4 36.6 -24.1 15.4 11.5 34.8 14

15 FA856150005 Less: Uses of property income (paid) 990.1 998.9 1032.1 1195.9 1315.6 1443.9 1399.7 1258.1 15

16 FA856130005 Interest 530.9 559.8 587.2 684.4 820.0 861.8 716.7 628.3 16

17 FA856120005 Distributed income of corporations 448.3 435.9 442.6 502.0 491.9 572.1 674.3 610.9 17

18 FA856121005 Dividends 430.5 426.5 400.3 448.1 457.6 534.7 610.2 540.4 18

19 FA856122005 Withdrawals from income of quasi-corporations (2) 17.8 9.4 42.3 53.9 34.2 37.4 64.1 70.4 19

20 FA853192285 Reinvested earnings on foreign direct investment 10.9 3.2 2.3 9.5 3.8 10.0 8.7 19.0 20

21 FA856112005 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 FA856140005 Net national income/Balance of primary incomes, net -27.8 -69.8 -32.1 -113.5 -9.6 -97.6 -128.7 54.7 22

23 FA856220005 Less: Current taxes on income, wealth, etc. (paid) 40.5 34.9 41.1 35.7 31.7 42.3 34.5 46.6 23

24 FA856403005 Less: Other current transfers (paid) 46.4 31.1 28.9 29.0 30.3 14.3 28.3 24.0 24

25 FA856012005 Equals: Disposable income, net -114.6 -135.7 -102.0 -178.2 -71.7 -154.2 -191.5 -15.9 25

26 FA856012005 Equals: Net saving -114.6 -135.7 -102.0 -178.2 -71.7 -154.2 -191.5 -15.9 26

 Capital account

27 FA856006385 Net saving less capital transfers -124.6 -135.7 -103.8 -193.7 -71.7 -154.2 -191.5 -15.9 27

28 FA856012005 Net saving -114.6 -135.7 -102.0 -178.2 -71.7 -154.2 -191.5 -15.9 28

29 FA855440085 Less: Capital transfers paid (net) 10.0 0.0 1.8 15.5 0.0 0.0 0.0 0.0 29

30 FA855015085 Capital formation, net 32.2 34.3 38.4 26.3 30.1 26.3 7.3 12.0 30

31 FA855013085 Gross fixed capital formation (nonresidential) 157.4 166.4 178.1 173.6 184.4 188.2 174.1 187.6 31

32 FA856300085 Less: Consumption of fixed capital 125.2 132.1 139.7 147.3 154.3 161.9 166.8 175.6 32

33 FA855000995 Net lending (+) or borrowing (-), capital account (lines 27-30) -156.8 -170.0 -142.3 -220.0 -101.8 -180.5 -198.9 -27.8 33

 Financial account

34 FA855000995 Net lending (+) or borrowing (-) (line 33) -156.8 -170.0 -142.3 -220.0 -101.8 -180.5 -198.9 -27.8 34

35 FA854090005 Net acquisition of financial assets 722.6 156.1 798.4 1341.6 1126.7 1918.9 2547.7 2958.3 35

36 FA854000005 Currency and deposits 37.8 -222.9 -304.2 60.1 -4.9 67.6 201.4 -47.6 36

37 FA854022005 Debt securities -39.3 215.8 556.5 520.5 705.3 881.6 1577.0 -425.0 37

38 FA853069175 Open market paper -35.1 19.3 -111.7 107.9 15.4 -0.3 -52.9 10.9 38

39 FA853061105 Treasury securities 98.7 259.3 460.2 125.1 488.4 359.1 1546.8 -432.3 39

40 FA853061705 Agency- and GSE-backed securities (3) -171.1 -114.1 151.7 44.8 18.6 277.0 -360.8 -485.7 40

41 FA853062005 Municipal securities -18.8 -15.5 -33.8 27.1 34.3 103.7 44.9 119.7 41

42 FA853063005 Corporate and foreign bonds 87.0 66.8 90.1 215.7 148.7 142.1 399.0 362.5 42

43 FA854035005 Loans 150.1 83.8 256.7 616.7 493.2 551.1 513.0 2593.0 43

44 FA854041005 Short term 130.2 3.3 97.3 293.5 148.8 236.7 -110.7 1630.5 44

45 FA814042005 Long term 19.9 80.6 159.4 323.2 344.5 314.5 623.6 962.4 45

46 FA813081005 Equity and investment fund shares 367.8 248.8 375.8 205.5 223.2 145.0 35.7 715.7 46

47 FA813064105 Corporate equities 287.8 214.4 69.1 186.3 63.0 -72.9 -203.8 380.6 47

48 FA813034005 Money market fund shares 6.1 -68.5 144.0 9.1 24.2 106.2 127.8 184.2 48

49 FA813092405 Equity in government-sponsored enterprises (3) 0.3 1.2 -0.5 -0.4 -0.2 -0.0 -0.5 -0.0 49

50 FA803092105 U.S. direct investment aboard: equity 11.4 27.2 54.9 30.2 1.9 42.2 33.5 50.4 50

51 FA793094605 Equity investment in subsidiaries 62.1 74.6 108.3 -19.7 134.3 69.4 78.7 100.6 51

52 FA733040005 Insurance, pension and standardized guarantee schemes 5.0 4.1 4.0 4.0 4.0 4.0 4.0 4.0 52

53 FA853096005 Other accounts receivable 201.3 -173.4 -90.4 -65.1 -294.1 269.6 216.7 118.2 53

54 FA854194005 Net incurrence of liabilities 699.1 143.5 589.1 1466.5 956.9 1826.0 2493.9 2758.1 54

55 FA403197033 Currency and deposits -1.5 -0.5 -0.4 -0.3 -0.2 2.8 4.9 -1.0 55
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Billions of dollars

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56 FA814122005 Debt securities 166.7 154.9 364.3 418.6 319.9 436.8 848.6 898.9 56

57 FA423161705 Agency- and GSE-backed securities (3) 150.3 220.4 351.7 346.6 246.9 318.6 658.2 612.9 57

58 FA813163005 Corporate bonds 52.4 -54.0 21.2 69.3 77.4 84.1 215.8 281.8 58

59 FA813169105 Commercial paper -36.0 -11.6 -8.6 2.7 -4.4 34.0 -25.4 4.3 59

60 FA814135005 Loans -83.1 -221.8 34.5 108.2 315.7 136.6 151.7 14.8 60

61 FA814141005 Short term -99.5 -236.3 -64.9 97.3 354.4 145.1 141.0 16.6 61

62 FA814142005 Long term 16.4 14.5 99.4 11.0 -38.7 -8.5 10.7 -1.8 62

63 FA123165005 Mortgages 9.3 4.0 1.0 5.6 -15.8 1.9 1.8 -9.1 63

64 FA803192305 Foreign direct investment in the U.S.: debt 7.1 10.5 98.4 5.4 -22.9 -10.3 9.0 7.3 64

65 FA853181005 Equity and investment fund shares 633.1 397.5 171.5 874.6 424.6 1173.2 1170.3 1428.7 65

66 FA634090005 Money market fund shares 25.7 5.2 -123.0 165.3 169.2 712.8 763.5 439.5 66

67 FA813164105 Corporate equity issues 280.8 253.3 285.6 445.0 225.3 233.2 515.9 875.5 67

68 FA653164205 Mutual fund shares 311.0 98.7 28.4 317.7 -64.0 208.3 -229.1 215.7 68

69 FA403192405 Equity in government-sponsored enterprises (3) 1.2 1.3 2.7 4.2 1.1 -3.7 -6.8 -0.9 69

70 FA803192105 Foreign direct investment in the U.S.: equity 11.6 16.1 -76.0 21.1 46.2 31.6 0.9 14.8 70

71 FA662090003 Equity in noncorporate business 4.3 5.3 17.3 1.0 9.5 5.2 6.9 15.8 71

72 FA803194605 Equity investment by parent -1.5 17.6 36.4 -79.7 37.3 -14.3 6.5 -40.5 72

73 FA503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 112.5 -91.2 73

74 FA813196005 Other accounts payable -16.2 -186.5 19.2 65.4 -103.0 76.7 318.4 416.7 74

 Addendum:

75 FA855000005 Net lending (+) or borrowing (-), financial account (lines 35-54) 23.5 12.6 209.4 -124.9 169.8 92.9 53.9 200.2 75

 Other changes in volume account

76 FV858090185 Total other volume changes 20.7 178.7 420.3 123.0 376.6 131.5 262.9 379.5 76

77 FV812010095 Disaster losses 0.0 0.0 0.0 -1.8 -2.4 0.0 0.0 -0.4 77

78 FV858090085 Other volume changes -159.7 -4.0 68.7 29.8 107.4 -141.8 10.1 152.0 78

79 FU857005045 Less: Statistical discrepancy (lines 33-75) (4) -180.4 -182.7 -351.6 -95.1 -271.6 -273.4 -252.8 -228.0 79

 Revaluation account

80 FR812010095 Nonfinancial assets 14.2 8.3 9.4 18.4 35.2 25.1 16.0 155.0 80

81 FR815013665 Structures (nonresidential) 13.7 11.3 11.0 19.8 32.4 24.9 11.1 120.0 81

82 FR815013265 Equipment 1.1 -1.6 -1.8 -1.0 2.9 0.4 3.9 35.8 82

83 FR815013765 Intellectual property products -0.5 -1.4 0.2 -0.4 -0.1 -0.2 0.9 -0.7 83

84 FR854090085 Financial assets 690.1 -544.3 699.8 2463.7 -1711.2 3709.6 2710.2 3163.3 84

85 FR854022005 Debt securities 144.5 -160.4 -11.1 60.4 -217.1 405.4 197.3 -317.4 85

86 FR803092305 U.S. direct investment aboard: debt 0.6 0.3 -1.3 0.8 -0.1 -0.1 -0.0 0.0 86

87 FR813064105 Corporate equities 560.5 -339.2 707.5 2319.8 -1390.7 3202.5 2468.3 3365.1 87

88 FR803092105 U.S. direct investment aboard: equity -15.5 -45.1 4.7 82.7 -103.3 101.7 44.5 115.5 88

89 FR814190085 Liabilities 1042.2 -599.5 1195.9 2997.2 -1883.5 4378.3 2912.3 5369.9 89

90 FR803192305 Foreign direct investment in the U.S.: debt -0.6 0.1 -4.2 4.2 3.0 -2.9 -1.1 -6.0 90

91 FR813164105 Corporate equity issues 506.0 -226.6 499.2 978.3 -672.9 1481.7 689.6 2795.8 91

92 FR653164205 Mutual fund shares 506.7 -352.1 689.9 1965.7 -1165.2 2781.4 2132.1 2430.5 92

93 FR803192105 Foreign direct investment in the U.S.: equity 30.2 -20.9 11.0 49.1 -48.4 118.2 91.6 149.6 93

94 FR662090003 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 94

95 FR803194605 Equity investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 95

96 FR858200005 Changes in net worth due to nominal holding gains/losses -337.9 63.5 -486.7 -515.1 207.4 -643.7 -186.2 -2051.6 96

 Changes in balance sheet account

97 FC852090095 Change in net worth (lines 30+33+76+96) -441.8 106.4 -170.2 -585.8 512.4 -666.4 -114.8 -1687.9 97

 Balance sheet account (end of period)

98 FL852000095 Total assets 40245.2 39347.2 40925.9 44779.0 44325.3 49975.7 55213.1 61784.1 98

99 LM812010095 Nonfinancial assets (5) 1082.9 1122.9 1166.9 1207.7 1267.8 1314.4 1333.1 1494.8 99

100 LM815013665 Structures (nonresidential) 572.7 582.2 595.3 617.6 653.8 684.4 701.5 824.1 100

101 LM815013265 Equipment 422.4 451.3 475.2 485.5 501.8 509.0 499.1 525.9 101

102 LM815013765 Intellectual property products 87.8 89.4 96.4 104.6 112.2 121.0 132.5 144.8 102

103 FL854090005 Financial assets 39162.4 38224.3 39758.9 43571.3 43057.5 48661.3 53880.0 60289.3 103

104 FL854000005 Currency and deposits 1517.5 1279.3 975.1 1066.1 1061.2 1128.8 1330.2 1282.1 104
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105 FL854022005 Debt securities 7307.1 7338.2 7883.6 8458.2 8948.4 10274.7 11993.3 11337.5 105

106 FL853069175 Open market paper 456.3 476.9 365.7 472.5 488.4 526.5 416.7 514.1 106

107 FL853061105 Treasury securities 1466.0 1705.0 2144.0 2259.3 2733.7 3162.1 4764.3 4230.6 107

108 FL853061705 Agency- and GSE-backed securities (3) 1902.4 1770.3 1913.2 1961.1 1972.4 2288.3 1919.8 1406.2 108

109 FL853062005 Municipal securities 996.8 982.2 931.6 977.5 990.5 1131.6 1190.5 1302.5 109

110 FL853063005 Corporate and foreign bonds 2485.6 2403.9 2529.2 2787.7 2763.3 3166.0 3702.1 3884.2 110

111 FL854035005 Loans 12754.2 12652.1 12876.7 13552.0 14024.6 14562.5 15068.3 17675.0 111

112 FL854041005 Short term 4724.0 4542.8 4640.1 5014.4 5159.2 5395.8 5285.2 6915.7 112

113 FL814042005 Long term 8030.2 8109.3 8236.6 8537.5 8865.4 9166.7 9783.2 10759.3 113

114 FL813065005 Mortgages 8008.5 8090.9 8219.9 8523.9 8847.2 9156.0 9777.2 10757.7 114

115 FL803092305 U.S. direct investment abroad: debt 21.8 18.4 16.7 13.7 18.3 10.6 5.9 1.6 115

116 FL813081005 Equity and investment fund shares 13930.7 13541.0 14570.1 17127.2 15874.4 19364.1 21907.5 26105.2 116

117 LM813064105 Corporate equities 10725.4 10600.6 11377.2 13883.2 12555.5 15685.2 17949.7 21695.4 117

118 FL813034005 Money market fund shares 346.5 278.0 422.0 431.1 455.2 599.7 727.5 911.7 118

119 FL813092405 Equity in government-sponsored enterprises (3) 0.5 1.6 1.1 0.7 0.6 0.6 0.1 0.0 119

120 FL803092105 U.S. direct investment aboard: equity 506.1 433.0 492.8 579.7 484.4 653.4 762.7 937.6 120

121 FL793094605 Equity investment in subsidiaries 2352.1 2227.8 2277.0 2232.5 2378.7 2425.2 2467.6 2560.4 121

122 FL733040005 Insurance, pension and standardized guarantee schemes 45.0 49.0 53.0 57.0 61.0 65.0 69.0 73.0 122

123 FL853096005 Other accounts receivable 3608.0 3364.7 3400.4 3310.9 3088.0 3266.3 3511.7 3816.6 123

124 FL852100005 Total liabilities and net worth 40245.2 39347.2 40925.9 44779.0 44325.3 49975.7 55213.1 61784.1 124

125 FL854194005 Liabilities 40705.1 39700.6 41449.4 45888.3 44922.3 51239.0 56591.3 64850.2 125

126 FL403197033 Currency and deposits 9.1 8.5 8.1 7.8 7.6 10.4 15.3 14.3 126

127 FL814122005 Debt securities 12352.0 12273.5 12510.0 12892.2 13196.8 13626.6 14469.2 15362.3 127

128 FL423161705 Agency- and GSE-backed securities (3) 7924.0 8144.4 8496.1 8842.7 9089.6 9408.3 10066.5 10679.4 128

129 FL813163005 Corporate bonds 4084.7 3797.4 3690.8 3723.7 3785.9 3863.1 4072.8 4348.7 129

130 FL813169105 Commercial paper 343.3 331.6 323.0 325.7 321.3 355.3 329.9 334.2 130

131 FL814135005 Loans 3316.0 3097.2 3127.5 3239.9 3558.6 3688.5 3839.1 3877.2 131

132 FL814141005 Short term 3045.7 2812.3 2747.4 2844.6 3199.1 3344.1 3485.1 3500.5 132

133 FL814142005 Long term 270.3 284.9 380.1 395.3 359.5 344.3 354.0 376.7 133

134 FL123165005 Mortgages 231.4 235.4 236.5 242.0 226.2 224.3 226.1 247.4 134

135 FL803192305 Foreign direct investment in the U.S.: debt 38.9 49.5 143.7 153.2 133.3 120.0 127.9 129.3 135

136 FL853181005 Equity and investment fund shares 23118.7 22707.5 24006.3 27834.4 26359.0 31909.2 35967.3 42761.9 136

137 FL634090005 Money market fund shares 3073.0 3078.2 2955.2 3120.5 3289.7 4002.5 4765.9 5205.5 137

138 LM813164105 Corporate equity issues 5900.7 5927.5 6712.3 8135.6 7688.0 9402.9 10608.4 14279.7 138

139 LM653164205 Mutual fund shares 13150.6 12897.2 13615.6 15899.0 14669.8 17659.5 19562.6 22208.8 139

140 FL403192405 Equity in government-sponsored enterprises (3) 42.9 44.2 46.9 51.1 52.2 48.6 41.8 40.9 140

141 FL803192105 Foreign direct investment in the U.S.: equity 324.0 309.1 230.2 288.6 261.0 429.4 532.8 695.0 141

142 LM662090003 Equity in noncorporate business 45.1 50.4 67.7 68.7 78.2 83.5 90.3 106.1 142

143 FL803194605 Equity investment by parent 582.3 400.9 378.3 270.8 320.1 282.8 253.0 204.8 143

144 FL503194205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 112.5 21.3 144

145 FL813196005 Other accounts payable 1909.3 1613.8 1797.5 1914.1 1800.3 2004.3 2300.3 2834.5 145

146 FL852090095 Net worth -459.8 -353.4 -523.6 -1109.3 -597.0 -1263.3 -1378.2 -3066.1 146

(1) Includes the following sectors as defined in the Financial Accounts of the United States: Money Market Funds; Mutual Funds; Closed-End Funds; Exchange-Traded Funds;

 Government-Sponsored Enterprises; Agency- and GSE-Backed Mortgage Pools; Issuers of Asset-Backed Securities; Finance Companies; REITs; Security Brokers and Dealers;

 Holding Companies; Other Financial Business.

(2) 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.

(3) 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 2004:Q4.

(4) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.

(5) Excludes land. Includes corporate and noncorporate financial business.
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 Current account

 1 FA316902505 Gross value added 723.1 737.3 749.0 766.3 794.1 816.3 856.5 896.6 1

 2 FA316300001 Less: Consumption of fixed capital 270.2 271.5 270.7 275.9 285.0 293.9 304.7 322.7 2

 3 FA316902605 Equals: Net value added 452.9 465.8 478.3 490.5 509.1 522.4 551.8 573.9 3

 4 FA316025001 Compensation of employees (paid) 460.0 469.0 479.7 489.5 509.7 525.0 550.6 572.4 4

 5 FA316020001 Wages and salaries 324.0 330.5 336.4 344.1 357.3 365.5 381.9 393.2 5

 6 FA316401005 Employers’ social contributions 135.9 138.6 143.4 145.4 152.4 159.5 168.7 179.3 6

 7 FA316402101 Operating surplus, net -7.1 -3.2 -1.5 0.9 -0.6 -2.6 1.1 1.5 7

 8 FA316140005 Net national income/Balance of primary incomes, net -194.8 -187.8 -239.7 -264.0 -317.9 -372.5 -912.4 -747.0 8

 9 FA316402101 Operating surplus, net -7.1 -3.2 -1.5 0.9 -0.6 -2.6 1.1 1.5 9

10 FA316240001 Taxes on production and imports, receivable 136.3 140.3 136.5 131.5 163.8 174.8 155.8 174.6 10

11 FA316402015 Subsidies (paid) -57.6 -56.7 -61.2 -59.3 -62.7 -72.4 -656.7 -478.8 11

12 FA316150195 Property income (received) 172.7 161.1 140.8 139.6 123.3 109.9 115.9 135.3 12

13 FA316130101 Interest 24.8 28.0 29.7 29.8 36.4 37.7 23.0 18.0 13

14 FA316121105 Distributed income of corporations (dividends) 137.6 126.4 106.3 103.7 79.0 63.8 87.0 109.3 14

15 FA316112101 Rents on land and natural resources 10.3 6.7 4.8 6.1 7.8 8.4 5.9 8.0 15

16 FA316130095 Less: Uses of property income (interest paid) 439.1 429.3 454.3 476.7 541.6 582.3 528.6 579.5 16

17 FA316140005 Net national income/Balance of primary incomes, net -194.8 -187.8 -239.7 -264.0 -317.9 -372.5 -912.4 -747.0 17

18 FA316220001 Plus: Current taxes on income, wealth, etc. (received) 1763.8 1883.8 1883.9 1868.4 1865.6 1938.8 1959.6 2417.1 18

19 FA316601001 Plus: Social benefits (received) 1140.1 1190.8 1224.4 1284.3 1346.5 1409.2 1434.4 1523.4 19

20 FA316404001 Less: Social contributions (paid) 1900.6 1990.3 2045.2 2119.6 2217.7 2349.7 3403.9 3674.8 20

21 FA316403105 Plus: Other current transfers (received) 87.3 76.2 79.7 85.5 88.2 76.2 67.2 67.2 21

22 FA316403001 Less: Other current transfers (paid) 540.9 577.9 605.0 606.4 634.1 659.3 932.7 1174.5 22

23 FA316012005 Equals: Disposable income, net 354.9 394.9 298.1 248.1 130.7 42.5 -1787.8 -1588.5 23

24 FA316901001 Less: Final consumption expenditures 952.2 955.1 965.7 982.5 1038.0 1094.8 1169.6 1246.8 24

25 FA316006085 Equals: Net saving -597.4 -560.2 -667.6 -734.4 -907.3 -1052.2 -2957.4 -2835.3 25

 Capital account

26 FA316006385 Net saving less capital transfers -662.2 -620.2 -728.1 -569.9 -967.9 -1131.3 -3030.7 -2956.4 26

27 FA316006085 Net saving -597.4 -560.2 -667.6 -734.4 -907.3 -1052.2 -2957.4 -2835.3 27

28 FA315440005 Less: Capital transfers paid (net) 64.9 59.9 60.5 -164.5 60.6 79.0 73.3 121.0 28

29 FA315050905 Capital formation, net -9.0 -35.8 -10.8 1.8 14.2 24.1 43.3 30.7 29

 Gross fixed capital formation (acquisition of

30 FA315019001 produced nonfinancial assets) 263.8 266.6 268.8 279.9 300.0 320.6 351.0 362.4 30

31 FA316300001 Less: Consumption of fixed capital 270.2 271.5 270.7 275.9 285.0 293.9 304.7 322.7 31

32 FA315420003 Acquisition of nonproduced nonfinancial assets -2.6 -30.9 -8.9 -2.2 -0.8 -2.6 -2.9 -9.0 32

33 FA315000995 Net lending (+) or borrowing (-), capital account (lines 26-29) -653.2 -584.4 -717.3 -571.6 -982.1 -1155.4 -3074.0 -2987.1 33

 Financial account

34 FA315000995 Net lending (+) or borrowing (-) (line 33) -653.2 -584.4 -717.3 -571.6 -982.1 -1155.4 -3074.0 -2987.1 34

35 FA314090005 Net acquisition of financial assets 32.0 236.9 206.2 124.1 338.4 77.7 1709.1 -1242.7 35

36 FA313011105 Monetary gold and SDRs 0.0 0.0 0.7 0.1 0.2 0.2 0.1 113.7 36

37 FA313011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 FA313011303 SDR holdings 0.0 0.0 0.7 0.1 0.2 0.2 0.1 113.7 38

39 FA314000005 Currency and deposits 57.2 103.5 67.0 -171.6 178.5 5.7 1333.8 -1322.1 39

40 FA313011505 Official foreign currencies 0.1 0.1 0.0 0.0 0.0 0.1 0.0 -0.1 40

41 FA313011405 Reserve position in IMF (net) -3.9 -6.5 1.5 -1.8 4.8 4.3 8.8 0.5 41

42 FA313020005 Currency and transferable deposits 60.3 110.4 65.7 -170.2 173.5 1.0 1326.3 -1323.9 42

43 FA313030003 Time and savings deposits 0.7 -0.5 -0.2 0.4 0.1 0.3 -1.3 1.4 43

44 FA313091105 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 44

45 FA314022005 Debt securities -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 FA313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

47 FA313063763 Corporate and foreign bonds -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 FA314023005 Loans -26.4 106.1 97.9 95.8 99.1 93.5 254.1 176.4 48

49 FA314041005 Short term -28.2 106.8 94.7 95.6 95.7 92.9 250.7 170.4 49

50 FA313066220 Consumer credit 110.7 103.4 99.6 96.3 90.7 83.0 61.7 55.4 50

51 FA313069005 Other loans and advances -138.9 3.4 -4.9 -0.7 5.0 9.9 189.0 115.0 51

52 FA313065005 Long term (mortgages) 1.7 -0.7 3.2 0.2 3.4 0.6 3.3 6.0 52

53 FA313081105 Equity and investment fund shares 0.4 2.1 1.7 1.4 5.3 1.4 115.8 -91.6 53

54 FA313064105 Corporate equities -1.6 -0.0 -0.1 -0.1 4.0 0.0 0.0 -0.0 54

55 FA313092803 Equity in international organizations 2.1 2.1 1.7 1.5 1.3 1.4 1.8 1.2 55

56 FA313092403 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 FA313094303 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

58 FA313094205 Equity investment in Federal Reserve facilities 0.0 0.0 0.0 0.0 0.0 0.0 114.0 -92.7 58
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59 FA313096005 Other accounts receivable 0.9 25.3 38.9 198.5 55.4 -23.0 5.2 -119.1 59

60 FA313070000 Trade receivables -5.2 12.7 3.8 0.1 10.4 -1.9 11.3 10.6 60

61 FA313078000 Taxes receivable -4.1 0.4 23.9 189.0 31.3 -26.8 -12.2 -137.2 61

62 FA313093003 Other (miscellaneous assets) 10.2 12.2 11.2 9.4 13.7 5.6 6.1 7.5 62

63 FA314190005 Net incurrence of liabilities 764.8 755.7 883.2 634.5 1295.4 1190.7 5006.6 1481.1 63

64 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112.8 64

65 FA314100005 Currency and deposits -0.3 -0.6 -0.6 -0.3 -0.3 -0.5 -0.0 -0.1 65

66 FA314122005 Debt securities 735.9 724.6 842.7 447.0 1409.8 1174.9 4581.2 1683.4 66

67 FA313161105 Treasury securities 736.0 724.4 842.8 447.0 1411.2 1176.6 4582.2 1683.8 67

68 FA313161705 Federal agency securities -0.1 0.2 -0.1 -0.1 -1.5 -1.7 -1.0 -0.4 68

69 FA314123005 Loans 0.0 0.0 0.0 151.7 -151.7 0.0 0.0 0.0 69

70 FA313152005 Insurance, pension and standardized guarantee schemes 29.2 13.6 6.0 15.3 -38.0 -20.8 -18.9 -68.3 70

71 FA313140003 Insurance reserves 0.8 -0.1 0.1 -0.2 0.2 0.9 0.2 0.3 71

72 FA313195105 Retiree Health Care Funds 10.4 7.4 12.9 9.6 13.9 14.4 8.2 21.4 72

73 FA343073045 Claims of pension fund on sponsor 18.1 6.4 -7.0 6.0 -52.1 -36.1 -27.3 -90.1 73

74 FA313196005 Other accounts payable -0.1 18.1 35.2 20.7 75.6 37.2 444.3 -246.7 74

75 FA713014003 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 75

76 FA313170005 Trade payables -3.1 14.5 29.4 17.5 74.0 33.3 33.0 64.5 76

77 FA313172003 PPP subsidies payable 0.0 0.0 0.0 0.0 0.0 0.0 415.2 -308.9 77

78 FA313193005 Other (miscellaneous liabilities) 3.0 3.5 5.8 3.2 1.6 3.9 -3.8 -2.3 78

 Addendum:

79 FA315000005 Net lending (+) or borrowing (-), financial account (lines 35-63) -732.8 -518.8 -677.0 -510.3 -957.0 -1113.0 -3297.5 -2723.8 79

 Other changes in volume account

80 FV318090185 Total other volume changes -51.4 122.5 64.9 138.0 8.3 -38.1 -172.9 445.8 80

81 FV312010095 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 81

82 FV318090085 Other volume changes 28.2 56.9 24.6 76.7 -16.7 -80.6 50.6 182.6 82

83 FU317005045 Less: Statistical discrepancy (lines 33-79) (3) 79.6 -65.6 -40.3 -61.3 -25.0 -42.4 223.5 -263.3 83

 Revaluation account

84 FR312010095 Nonfinancial assets 50.3 7.1 56.1 85.8 110.6 60.6 102.5 237.9 84

85 FR315015605 Structures 31.2 11.7 47.7 55.6 66.2 38.5 53.8 166.5 85

86 FR315013265 Equipment 9.0 -2.9 0.8 5.8 14.0 8.2 4.9 30.1 86

87 FR315013765 Intellectual property products 10.1 -1.7 7.6 24.4 30.4 13.9 43.8 41.4 87

88 FR318080005 Financial assets -5.0 -3.3 -2.1 4.0 -5.7 -0.4 3.5 -4.0 88

89 FR313011105 Monetary gold and SDRs -3.3 -2.3 -1.5 2.9 -1.2 -0.3 2.1 -3.0 89

90 FR314000005 Currency and deposits -1.7 -1.1 -0.6 1.1 -0.4 -0.1 1.4 -1.0 90

91 FR313064105 Corporate equities 0.0 0.0 0.0 0.0 -4.0 0.0 0.0 0.0 91

92 FR313094303 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 92

93 FR313111303 Liabilities (SDR allocations) -3.2 -2.2 -1.5 2.8 -1.2 -0.3 2.0 -2.9 93

94 FR318200005 Changes in net worth due to nominal holding gains/losses 48.5 6.0 55.5 87.0 106.1 60.5 104.0 236.9 94

 Changes in balance sheet account

95 FC312090095 Change in net worth (lines 29+33+80+94) -665.2 -491.7 -607.8 -344.9 -853.5 -1108.9 -3099.6 -2273.7 95

 Balance sheet account (end of period)

96 FL312000095 Total assets 5149.8 5405.6 5658.1 5925.7 6384.5 6488.4 8420.9 7627.4 96

97 LM312010095 Nonfinancial assets (4) 3248.7 3251.0 3305.2 3395.0 3520.5 3608.0 3756.8 4034.8 97

98 LM315015605 Structures 1504.7 1506.8 1544.2 1587.3 1642.7 1674.1 1724.4 1882.7 98

99 LM315013265 Equipment 746.8 745.5 748.3 760.8 787.0 815.9 844.3 892.4 99

100 LM315013765 Intellectual property products 997.2 998.8 1012.8 1046.9 1090.7 1118.0 1188.1 1259.6 100

101 FL314090005 Financial assets 1901.1 2154.6 2352.9 2530.7 2864.0 2880.4 4664.1 3592.6 101

102 FL313011105 Monetary gold and SDRs 51.9 49.7 48.9 51.9 50.8 50.8 52.9 163.6 102

103 FL313011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 FL313011303 SDR holdings 51.9 49.7 48.9 51.9 50.8 50.7 52.9 163.6 104
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105 FL314000005 Currency and deposits 277.2 379.7 446.1 275.6 453.7 459.2 1794.4 471.3 105

106 FL313011505 Official foreign currencies 20.7 19.5 19.3 21.2 20.8 20.6 22.1 20.2 106

107 FL313011405 Reserve position in IMF (net) 25.3 17.7 18.7 17.9 22.3 26.4 36.6 36.1 107

108 FL313020005 Currency and transferable deposits 226.3 338.1 404.0 232.0 405.9 407.2 1732.1 410.1 108

109 FL313030003 Time and savings deposits 2.2 1.8 1.5 1.9 2.0 2.3 1.0 2.4 109

110 FL313091105 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 110

111 FL314022005 Debt securities 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 111

112 FL313061703 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112

113 FL313063763 Corporate and foreign bonds 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 113

114 FL314023005 Loans 1181.6 1287.7 1385.6 1481.4 1580.5 1674.0 1928.0 2104.4 114

115 FL314041005 Short term 1064.5 1171.2 1265.9 1361.5 1457.3 1550.1 1800.9 1971.2 115

116 FL313066220 Consumer credit 846.2 949.7 1049.3 1145.6 1236.3 1319.2 1381.0 1436.4 116

117 FL313069005 Other loans and advances 218.2 221.6 216.6 216.0 221.0 230.9 419.9 534.9 117

118 FL313065005 Long term (mortgages) 117.2 116.5 119.7 119.8 123.2 123.8 127.2 133.1 118

119 FL313081105 Equity and investment fund shares 92.8 94.9 96.6 98.0 99.3 100.6 216.5 124.9 119

120 LM313064105 Corporate equities 33.4 33.4 33.3 33.2 33.2 33.2 33.2 33.2 120

121 FL313092803 Equity in international organizations 59.4 61.5 63.3 64.8 66.1 67.5 69.3 70.5 121

122 FL313092403 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 LM313094303 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 123

124 FL313094205 Equity investment in Federal Reserves facilities 0.0 0.0 0.0 0.0 0.0 0.0 114.0 21.3 124

125 FL313096005 Other accounts receivable 296.9 342.1 375.2 623.4 679.3 595.4 671.7 727.9 125

126 FL313070000 Trade receivables 48.4 61.2 64.9 65.0 75.4 73.5 84.9 95.5 126

127 FL313078000 Taxes receivable 154.8 175.1 193.2 432.0 463.9 376.2 435.1 473.1 127

128 FL313093003 Other (miscellaneous assets) 93.6 105.8 117.0 126.4 140.0 145.7 151.8 159.3 128

129 FL312000095 Total liabilities and net worth 5149.8 5405.6 5658.1 5925.7 6384.5 6488.4 8420.9 7627.4 129

130 FL314190005 Liabilities 16807.7 17555.2 18415.5 19028.0 20340.2 21553.1 26585.2 28065.3 130

131 FL313111303 SDR allocations 51.2 48.9 47.5 50.3 49.1 48.8 50.9 160.8 131

132 FL314100005 Currency and deposits 25.3 24.8 24.2 24.0 23.7 23.2 23.1 23.0 132

133 FL314122005 Debt securities 14441.1 15165.6 16008.3 16455.3 17865.0 19039.9 23621.1 25304.5 133

134 FL313161105 Treasury securities 14416.7 15141.1 15983.8 16430.9 17842.1 19018.7 23600.9 25284.7 134

135 FL313161705 Federal agency securities 24.4 24.6 24.5 24.4 22.9 21.2 20.2 19.8 135

136 FL314123005 Loans 0.0 0.0 0.0 151.7 0.0 0.0 0.0 0.0 136

137 FL313152005 Insurance, pension and standardized guarantee schemes 2036.4 2048.1 2039.0 2033.2 2015.1 2020.7 2021.2 1952.6 137

138 FL313140003 Insurance reserves 51.3 51.1 51.3 51.1 51.3 52.2 52.4 52.6 138

139 FL313195105 Retiree Health Care Funds 257.3 264.7 277.6 287.1 301.0 315.4 323.6 345.1 139

140 FL343073045 Claims of pension fund on sponsor 1727.8 1732.3 1710.1 1695.0 1662.8 1653.1 1645.2 1554.8 140

141 FL313196005 Other accounts payable 253.8 267.7 296.5 313.5 387.3 420.5 868.9 624.5 141

142 FL713014003 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 142

143 FL313170005 Trade payables 246.8 261.4 290.7 308.2 382.3 415.5 448.5 513.0 143

144 FL313172003 PPP subsidies payable 0.0 0.0 0.0 0.0 0.0 0.0 415.2 106.3 144

145 FL313193013 Other (miscellaneous liabilities) 1.8 1.2 0.6 0.1 -0.2 -0.2 0.0 0.0 145

146 FL312090095 Net worth -11657.9 -12149.6 -12757.3 -13102.3 -13955.7 -15064.7 -18164.3 -20437.9 146

(1) The federal government sector excludes federal government employee retirement funds.

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land and nonproduced nonfinancial assets.
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 Current account

 1 FA216902505 Gross value added 1573.5 1626.7 1661.1 1704.6 1778.2 1829.8 1890.1 1963.5 1

 2 FA216300001 Less: Consumption of fixed capital 246.3 251.4 256.4 266.1 280.1 292.6 301.2 324.4 2

 3 FA216902605 Equals: Net value added 1327.1 1375.3 1404.7 1438.5 1498.2 1537.2 1588.9 1639.0 3

 4 FA216025001 Compensation of employees (paid) 1331.0 1377.3 1407.7 1445.9 1505.4 1548.8 1590.1 1638.5 4

 5 FA216020001 Wages and salaries 912.9 945.3 971.7 1004.1 1044.7 1085.0 1112.6 1151.0 5

 6 FA216401005 Employers’ social contributions 418.1 432.0 436.0 441.8 460.7 463.9 477.5 487.5 6

 7 FA216402101 Operating surplus, net -3.9 -2.0 -3.0 -7.5 -7.3 -11.7 -1.3 0.5 7

 8 FA216140005 Net national income/Balance of primary incomes, net 921.1 945.0 972.0 1024.9 1098.5 1138.2 1177.2 1305.8 8

 9 FA216402101 Operating surplus, net -3.9 -2.0 -3.0 -7.5 -7.3 -11.7 -1.3 0.5 9

10 FA216240001 Taxes on production and imports, receivable 1104.5 1134.8 1175.1 1235.9 1297.6 1355.2 1370.5 1488.8 10

11 FA216402015 Subsidies (paid) -0.5 -0.5 -0.5 -0.6 -0.6 -0.6 -0.6 -3.1 11

12 FA216150195 Property income (received) 83.2 81.5 83.1 88.0 94.9 101.7 104.5 106.7 12

13 FA216130101 Interest 65.3 64.9 66.6 71.3 77.2 83.4 86.9 89.0 13

14 FA216121101 Distributed income of corporations (dividends) 5.3 5.4 5.7 5.8 6.0 6.5 6.2 6.2 14

15 FA216112101 Rents on land and natural resources 12.7 11.2 10.8 10.8 11.7 11.8 11.4 11.6 15

16 FA216130095 Less: Uses of property income (interest paid) 262.3 268.7 282.8 290.9 286.1 306.4 295.9 287.2 16

17 FA216140005 Net national income/Balance of primary incomes, net 921.1 945.0 972.0 1024.9 1098.5 1138.2 1177.2 1305.8 17

18 FA216220005 Plus: Current taxes on income, wealth, etc. (received) 437.4 463.6 463.6 490.1 520.4 570.0 580.6 649.7 18

19 FA216601001 Plus: Social benefits (received) 18.7 19.2 20.0 19.8 20.4 20.7 20.6 22.8 19

20 FA216404001 Less: Social contributions (paid) 617.5 665.3 693.1 709.7 731.6 763.9 817.0 902.8 20

21 FA216403105 Plus: Other current transfers (received) 616.5 675.5 690.2 691.3 723.8 755.6 1020.8 1256.3 21

22 FA216403001 Less: Other current transfers (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 FA216012005 Equals: Disposable income, net 1376.1 1438.1 1452.7 1516.6 1631.5 1720.6 1982.1 2331.8 23

24 FA216901001 Less: Final consumption expenditures 1614.1 1653.8 1697.4 1744.0 1829.0 1914.0 1968.8 2106.9 24

25 FA216006095 Equals: Net saving -237.9 -215.8 -244.7 -227.4 -197.4 -193.4 13.3 224.9 25

 Capital account

26 FA216006395 Net saving less capital transfers -167.3 -146.0 -172.1 -155.0 -124.3 -118.5 97.0 308.0 26

27 FA216006095 Net saving -237.9 -215.8 -244.7 -227.4 -197.4 -193.4 13.3 224.9 27

28 FA215440005 Less: Capital transfers paid (net) -70.6 -69.8 -72.6 -72.4 -73.2 -74.9 -83.7 -83.1 28

29 FA215050905 Capital formation, net 103.0 116.4 127.6 136.6 148.3 154.6 155.0 137.2 29

 Gross fixed capital formation (acquisition of

30 FA215019001 produced nonfinancial assets) 338.8 356.0 371.1 388.4 411.9 430.5 439.6 444.6 30

31 FA216300001 Less: Consumption of fixed capital 246.3 251.4 256.4 266.1 280.1 292.6 301.2 324.4 31

32 FA215420003 Acquisition of nonproduced nonfinancial assets 10.6 11.9 12.9 14.3 16.5 16.7 16.6 17.0 32

33 FA215000995 Net lending (+) or borrowing (-), capital account (lines 26-29) -270.3 -262.4 -299.7 -291.6 -272.6 -273.1 -57.9 170.8 33

 Financial account

34 FA215000995 Net lending (+) or borrowing (-) (line 33) -270.3 -262.4 -299.7 -291.6 -272.6 -273.1 -57.9 170.8 34

35 FA214090005 Net acquisition of financial assets -46.3 76.7 171.2 85.7 68.8 31.9 354.9 550.0 35

36 FA214000005 Currency and deposits 28.4 5.5 14.1 11.7 0.3 25.9 81.3 84.6 36

37 FA213020005 Currency and transferable deposits 16.8 -8.6 5.9 -2.5 -7.6 6.2 90.8 115.8 37

38 FA213030000 Time and savings deposits 11.6 14.2 8.2 14.1 7.9 19.8 -9.5 -31.2 38

39 FA214022005 Debt securities -73.3 26.7 105.7 56.1 8.9 35.7 219.8 332.4 39

40 FA213069103 Open market paper -10.7 -3.3 0.5 4.2 0.5 -0.6 -0.4 4.0 40

41 FA213061105 Treasury securities -4.2 16.8 72.3 17.7 -12.4 51.4 291.3 383.9 41

42 FA213061703 Agency- and GSE-backed securities (2) -49.2 -4.0 25.8 26.0 5.6 2.4 -71.4 -39.8 42

43 FA213062003 Municipal securities -1.5 0.5 1.0 0.5 0.5 -0.9 1.5 3.8 43

44 FA213063003 Corporate and foreign bonds -7.7 16.7 6.1 7.7 14.6 -16.6 -1.2 -19.5 44

45 FA214035005 Loans -4.5 17.4 19.3 23.3 3.2 -3.3 20.7 17.7 45

46 FA212051003 Short term -0.6 7.8 7.4 8.9 1.1 -1.3 15.7 10.0 46

47 FA213065005 Long term (mortgages) -3.9 9.6 11.9 14.4 2.1 -1.9 5.0 7.7 47

48 FA213081005 Equity and investment fund shares -3.9 -2.4 3.2 -1.9 -4.3 4.6 11.3 13.1 48

49 FA213034003 Money market fund shares -1.7 -0.2 5.4 0.3 -2.1 6.8 13.5 15.3 49

50 FA213064103 Corporate equities -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 -3.4 50

51 FA213064203 Mutual fund shares 1.2 1.2 1.2 1.2 1.2 1.2 1.2 1.2 51

52 FA213096005 Other accounts receivable 7.0 29.5 28.9 -3.4 60.7 -31.1 21.9 102.3 52

53 FA213070003 Trade receivables 11.0 0.6 17.5 6.2 22.8 19.1 -12.9 32.0 53

54 FA213078005 Taxes receivable 7.1 5.6 10.9 5.3 19.6 8.5 16.7 5.3 54

55 FA213093003 Other (miscellaneous assets) -11.2 23.3 0.6 -15.0 18.3 -58.7 18.1 65.1 55
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56 FA214190005 Net incurrence of liabilities 179.1 228.7 319.8 249.6 231.8 251.7 396.3 376.9 56

57 FA213162005 Debt securities (municipals) -28.6 14.7 31.7 -1.5 -40.1 -2.7 90.2 69.0 57

58 FA213162400 Short term -6.4 -5.9 -2.7 4.8 2.9 6.8 1.7 -13.7 58

59 FA213162200 Other -22.2 20.7 34.4 -6.3 -42.9 -9.5 88.5 82.6 59

60 FA213169203 Loans (short term) -43.0 0.1 0.3 0.5 1.1 1.0 1.0 0.5 60

61 FA223073045 Insurance, pension and standardized guarantee schemes 210.8 172.7 244.8 205.8 223.1 202.9 255.1 253.1 61

 (claim of pension funds on sponsor)

62 FA213170003 Other accounts payable (trade payables) 39.8 41.2 43.1 44.9 47.7 50.5 49.9 54.3 62

 Addendum:

63 FA215000005 Net lending (+) or borrowing (-), financial account (lines 35-56) -225.4 -152.1 -148.6 -163.9 -163.0 -219.9 -41.4 173.2 63

 Other changes in volume account

64 FV218090185 Total other volume changes -69.4 3.2 75.2 65.5 34.7 105.1 6.7 -85.9 64

65 FV212010095 Disaster losses 0.0 0.0 0.0 -2.1 -0.2 0.0 0.0 -4.0 65

66 FV218090085 Other volume changes -114.3 -107.2 -75.9 -60.2 -74.7 51.9 -9.8 -84.3 66

67 FU217005045 Less: Statistical discrepancy (lines 33-63) (3) -44.9 -110.4 -151.1 -127.8 -109.6 -53.2 -16.6 -2.4 67

 Revaluation account

68 FR212010095 Nonfinancial assets 159.4 89.8 212.1 348.9 507.8 328.6 332.9 1541.9 68

69 FR215015605 Structures 156.1 91.1 209.1 344.6 499.9 327.6 327.0 1516.2 69

70 FR215013265 Equipment 3.1 0.6 0.7 2.2 5.5 0.5 3.0 19.0 70

71 FR215013765 Intellectual property products 0.3 -2.0 2.3 2.1 2.4 0.6 2.9 6.7 71

72 FR213081005 Financial assets (equity and investment fund shares) 17.3 -4.2 18.8 40.7 -19.3 63.5 52.0 73.8 72

73 FR223073045 Liabilities (claim of pension funds on sponsor) -157.7 109.9 -152.6 -463.1 217.3 -470.4 -502.1 -738.8 73

74 FR218200005 Changes in net worth due to nominal holding gains/losses 334.5 -24.3 383.5 852.7 271.2 862.6 887.0 2354.5 74

 Changes in balance sheet account

75 FC212090095 Change in net worth (lines 29+33+64+74) 97.8 -167.1 286.6 763.2 181.6 849.2 990.8 2576.6 75

 Balance sheet account (end of period)

76 FL212000095 Total assets 12876.0 13117.6 13625.5 14226.5 14890.2 15519.4 16436.9 18638.2 76

77 LM212010095 Nonfinancial assets (4) 9990.2 10184.5 10511.3 10980.3 11619.6 12086.0 12556.9 14213.3 77

78 LM215015605 Structures 9626.6 9819.5 10137.6 10594.2 11217.1 11675.8 12133.4 13757.0 78

79 LM215013265 Equipment 245.6 245.2 247.3 252.5 260.9 263.0 268.4 288.9 79

80 LM215013765 Intellectual property products 118.1 119.8 126.4 133.6 141.6 147.2 155.1 167.4 80

81 FL214090005 Financial assets 2885.8 2933.1 3114.2 3246.2 3270.5 3433.4 3880.0 4424.9 81

82 FL214000005 Currency and deposits 504.7 510.2 524.4 536.0 536.3 562.2 643.5 728.0 82

83 FL213020005 Currency and transferable deposits 145.7 137.1 143.0 140.6 132.9 139.1 229.9 345.6 83

84 FL213030000 Time and savings deposits 359.0 373.2 381.3 395.5 403.4 423.2 413.6 382.4 84

85 FL214022005 Debt securities 1389.7 1392.0 1489.2 1551.2 1535.2 1638.6 1898.1 2151.8 85

86 FL213069103 Open market paper 76.3 73.0 73.4 77.7 78.2 77.6 77.1 81.1 86

87 FL213061105 Treasury securities 646.5 653.8 717.3 735.0 713.2 793.1 1111.9 1440.7 87

88 FL213061703 Agency- and GSE-backed securities (2) 473.0 463.6 486.7 514.7 518.4 539.3 466.5 415.3 88

89 FL213062003 Municipal securities 14.5 15.0 15.8 16.7 16.8 16.7 18.6 22.2 89

90 FL213063003 Corporate and foreign bonds 179.6 186.6 195.9 207.2 208.6 211.9 223.9 192.4 90

91 FL214035005 Loans 362.2 378.8 397.7 420.5 423.5 420.1 440.7 458.2 91

92 FL212051003 Short term 139.7 147.5 154.8 163.7 164.9 163.6 179.2 189.2 92

93 FL213065005 Long term (mortgages) 222.6 231.3 242.8 256.8 258.6 256.5 261.4 269.0 93

94 FL213081005 Equity and investment fund shares 240.8 234.2 256.3 295.1 271.5 339.6 402.8 489.7 94

95 FL213034003 Money market fund shares 16.4 16.2 21.6 21.9 19.8 26.5 40.0 55.3 95

96 LM213064103 Corporate equities 153.4 147.7 159.4 185.8 169.6 214.1 250.0 306.4 96

97 LM213064203 Mutual fund shares 71.1 70.4 75.3 87.4 82.2 98.9 112.8 128.0 97

98 FL213096005 Other accounts receivable 388.3 417.8 446.7 443.3 504.0 472.9 494.9 597.2 98

99 FL213070003 Trade receivables 183.1 183.7 201.2 207.4 230.2 249.3 236.5 268.4 99

100 FL213078005 Taxes receivable 129.9 135.5 146.3 151.7 171.3 179.8 196.5 201.7 100

101 FL213093003 Other (miscellaneous assets) 75.3 98.6 99.2 84.2 102.5 43.8 61.9 127.0 101
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102 FL212100005 Total liabilities and net worth 12876.0 13117.6 13625.5 14226.5 14890.2 15519.4 16436.9 18638.2 102

103 FL214190005 Liabilities 7654.8 8063.5 8284.8 8122.5 8604.6 8384.6 8311.3 7936.0 103

104 FL213162005 Debt securities (municipals) 3090.3 3105.0 3136.7 3135.2 3095.1 3092.4 3182.7 3251.6 104

105 FL213162400 Short term 39.1 33.2 30.4 35.2 38.1 44.9 46.6 32.9 105

106 FL213162200 Other 3051.2 3071.9 3106.3 3099.9 3057.0 3047.5 3136.1 3218.7 106

107 FL213169203 Loans (short term) 18.1 18.2 18.5 18.9 20.1 21.1 22.1 22.6 107

108 FL223073045 Insurance, pension and standardized guarantee schemes 3722.7 4075.3 4221.6 4015.6 4488.9 4220.2 4005.6 3506.6 108

 (claim of pension funds on sponsor)

109 FL213170003 Other accounts payable (trade payables) 823.7 864.8 907.9 952.8 1000.5 1051.0 1100.9 1155.2 109

110 FL212090095 Net worth 5221.3 5054.1 5340.7 6104.0 6285.6 7134.8 8125.6 10702.2 110

(1) The state and local government sector excludes state and local government employee retirement funds.

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Excludes land and nonproduced nonfinancial assets.
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Billions of dollars

2014 2015 2016 2017 2018 2019 2020 2021

 

 Current account

 1 FA266905095 Foreign income from U.S. 3781.0 3692.2 3675.9 3956.5 4271.8 4325.3 3882.5 4664.9 1

 2 FA266903001 U.S. imports of goods and services 2887.4 2794.9 2738.4 2925.0 3131.2 3117.2 2776.1 3401.4 2

 3 FA266904195 U.S. income payments to rest of world 646.4 640.4 661.5 738.2 848.4 894.2 774.3 913.9 3

 4 FA266400101 Current taxes and trans. payments to rest of world 247.2 257.0 276.0 293.4 292.3 313.9 332.1 349.6 4

 5 FA266900095 Less: Foreign outlays to U.S. 3404.8 3267.5 3272.2 3585.1 3830.7 3872.7 3290.1 3803.5 5

 6 FA266903011 U.S. exports of goods and services 2377.4 2268.7 2232.1 2388.3 2538.1 2538.5 2148.6 2539.6 6

 7 FA266904095 U.S. income receipts from rest of world 881.6 860.8 893.5 1031.1 1138.7 1172.2 971.3 1087.0 7

 8 FA266400201 Current taxes and trans. receipts from rest of world (1) 145.8 138.1 146.7 165.7 153.9 162.0 170.2 176.8 8

 9 FA266000095 Equals: Net saving (current external balance) 376.2 424.7 403.7 371.4 441.2 452.6 592.5 861.4 9

 Capital account

10 FA266000095 Net saving 376.2 424.7 403.7 371.4 441.2 452.6 592.5 861.4 10

11 FA265440005 Less: Net capital transfers -6.9 -8.4 -7.0 -16.0 -4.6 -6.8 -6.2 -3.5 11

12 FA265420095 Less: Acquisition of nonproduced nonfinancial assets -0.0 0.0 0.0 -0.0 -0.1 -0.1 0.2 -0.1 12

13 FA265000905 Net lending (+) or borrowing (-), capital account (lines 10-11-12) 383.0 433.0 410.7 387.4 445.8 459.5 598.5 865.0 13

 Financial account

14 FA265000905 Net lending (+) or borrowing (-) (line 13) 383.0 433.0 410.7 387.4 445.8 459.5 598.5 865.0 14

15 FA264090005 Net acquisition of U.S. financial assets 1152.0 649.4 745.8 1529.7 732.1 625.0 1490.1 1853.5 15

16 FA263011005 Monetary gold and SDRs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112.8 16

17 FA263011205 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 FA313111303 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112.8 18

19 FA264000005 Currency and deposits 102.4 -45.6 -13.1 201.9 165.8 -26.3 280.9 169.1 19

20 FA263025003 Currency 66.3 38.4 42.3 69.7 65.3 51.3 121.3 48.3 20

21 FA263027003 Transferable deposits 16.6 -5.7 17.8 11.9 14.2 7.7 34.7 17.7 21

22 FA263030005 Time deposits 54.2 -18.6 70.8 16.4 37.4 -2.1 95.4 36.2 22

23 FA264016005 Net interbank items due from U.S. banks -34.7 -59.6 -144.0 104.0 48.9 -83.3 29.4 66.9 23

24 FA264022005 Debt securities 527.8 406.5 341.6 652.5 141.9 545.0 244.8 700.8 24

25 FA263069103 Open market paper 7.7 -2.3 36.9 -6.3 -10.2 5.4 -46.2 1.9 25

26 FA263061105 Treasury securities 314.2 42.7 -107.9 308.2 120.2 297.7 67.0 639.6 26

27 FA263061705 Agency- and GSE-backed securities (2) -8.1 24.8 79.1 22.0 95.7 81.9 5.7 -17.0 27

28 FA263062003 Municipal securities 4.3 6.5 7.2 7.1 -1.6 4.0 4.8 1.8 28

29 FA263063005 Corporate bonds 209.6 334.9 326.3 321.5 -62.2 156.0 213.4 74.5 29

30 FA264035005 Loans 197.3 73.2 170.2 122.6 -110.4 99.6 32.5 428.1 30

31 FA264041005 Short term 131.4 15.7 64.4 130.9 -7.9 119.9 91.2 403.6 31

32 FA262051005 Security repurchases 100.4 -21.2 68.7 31.3 -31.3 22.4 18.0 281.4 32

33 FA263069500 Loans to U.S. corporate business 31.0 36.9 -4.3 99.5 23.5 97.5 73.3 122.1 33

34 FA263092303 Long term (U.S. direct investment abroad: debt) 65.9 57.5 105.8 -8.2 -102.5 -20.3 -58.7 24.5 34

35 FA263081005 Equity and investment fund shares 300.4 239.0 234.5 483.0 475.9 -14.4 855.2 361.2 35

36 FA263034003 Money market fund shares -0.9 2.3 -14.3 0.1 17.3 7.4 18.9 20.8 36

37 FA263064105 Corporate equities 114.3 -191.4 -186.3 116.9 110.9 -249.2 669.2 -46.1 37

38 FA263064203 Mutual fund shares 40.9 1.8 60.9 32.6 28.7 -49.6 -0.7 5.8 38

39 FA263092101 Foreign direct investment in the U.S.: equity 146.1 426.3 374.2 333.3 318.9 277.0 167.8 380.8 39

40 FA263052005 Insurance, pension and standardized guarantee schemes 9.1 -3.8 13.4 13.5 10.9 2.9 -24.9 2.9 40

41 FA263076005 Insurance receivables due from property-casualty insurance companies -0.4 2.9 1.2 10.4 9.1 2.0 -2.1 6.0 41

42 FA543141905 Life insurance reserves 6.7 -4.6 11.0 2.7 -9.3 0.3 -9.1 -1.4 42

43 FA543151905 Pension entitlements 2.8 -2.0 1.2 0.4 11.0 0.6 -13.6 -1.6 43

44 FA263096005 Other accounts receivable 15.0 -20.0 -0.9 56.2 48.0 18.2 101.6 78.6 44

45 FA264194005 Net incurrence of liabilities 889.2 273.0 449.2 1156.0 536.9 236.1 972.2 1328.1 45

46 FA313011303 SDR holdings 0.0 0.0 0.7 0.1 0.2 0.2 0.1 113.7 46

47 FA264100005 Currency and deposits -121.4 -242.1 -83.4 255.2 71.2 21.8 110.8 48.7 47

48 FA263111503 Official foreign currencies 0.2 0.2 0.1 0.0 0.0 0.2 0.1 -0.2 48

49 FA263111403 Reserve position in IMF (net) -3.8 -6.5 1.3 -1.8 4.8 4.3 8.8 0.5 49

50 FA263191005 U.S. private deposits -117.8 -235.8 -84.8 257.0 66.4 17.3 102.0 48.4 50

51 FA313091105 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 51

52 FA264122005 Debt securities 161.8 -84.6 7.0 355.6 191.9 -23.5 38.8 511.8 52

53 FA263169105 Commercial paper -3.8 -7.0 -28.2 68.3 74.4 -22.6 -19.0 67.4 53

54 FA263163005 Bonds 165.6 -77.5 35.1 287.3 117.6 -0.9 57.8 444.4 54

55 FA264135005 Loans 114.4 125.9 132.8 -49.9 252.1 95.4 75.0 -19.0 55
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55 FA264135005 Loans 114.4 125.9 132.8 -49.9 252.1 95.4 75.0 -19.0 55

56 FA264141005 Short term 111.6 143.8 153.1 -11.1 161.8 204.9 134.2 28.4 56

57 FA262151003 Security repurchases 16.5 80.8 115.9 -33.1 117.3 111.2 55.5 -106.2 57

58 FA263169005 Other loans and advances 2.8 0.7 -1.5 2.8 -5.8 7.0 -1.8 -3.2 58

59 FA263168005 Depository institution loans n.e.c. 91.1 62.9 34.1 12.7 58.2 87.1 66.3 152.4 59

60 FA713091103 Nonoff. foreign currencies (swap lines) 1.3 -0.5 4.6 6.5 -7.9 -0.5 14.2 -14.5 60

61 FA263192305 Long term (foreign direct investment in the U.S.: debt) 2.7 -18.0 -20.3 -38.8 90.3 -109.5 -59.2 -47.4 61

62 FA263181105 Equity and investment fund shares 778.6 491.5 349.2 533.9 -46.7 133.2 689.1 582.1 62

63 FA263164100 Corporate equities 431.6 196.9 21.7 139.9 171.3 -25.3 396.0 154.8 63

64 FA313092803 U.S. government equity in IBRD, etc. 2.1 2.1 1.7 1.5 1.3 1.4 1.8 1.2 64

65 FA263192101 U.S. direct investment abroad: equity 344.9 292.5 325.7 392.5 -219.3 157.1 291.2 426.1 65

66 FA263152005 Insurance, pension and standardized guarantee schemes -5.8 9.9 21.9 47.4 27.5 11.2 65.0 81.6 66

67 FA263196005 Other accounts payable -38.5 -27.7 21.1 13.7 40.7 -2.2 -6.6 9.4 67

68 FA263170005 Trade payables -4.9 1.4 2.7 7.4 2.7 2.2 -0.4 3.4 68

69 FA263194735 Other investment by U.S. holding companies -33.6 -29.1 18.4 6.3 38.0 -4.4 -6.2 6.0 69

 Addendum:

70 FA265000005 Net lending (+) or borrowing (-), financial account (lines 15-45) 262.8 376.4 296.5 373.6 195.2 389.0 518.0 525.4 70

 Other changes in volume account

71 FV268090185 Total other volume changes -181.7 -46.4 -89.7 -29.3 126.4 24.6 -30.4 -316.3 71

72 FV268090085 Other volume changes -61.5 10.2 24.5 -15.6 377.1 95.2 50.1 23.3 72

73 FU267005005 Less: Statistical discrepancy (lines 13-70) (3) 120.2 56.6 114.2 13.8 250.7 70.6 80.5 339.6 73

 Revaluation account

74 FR264090005 Financial assets 1003.4 -727.4 720.4 2269.4 -1594.4 4324.4 3766.2 4939.0 74

75 FR263011005 Monetary gold and SDRs -3.2 -2.2 -1.5 2.8 -1.2 -0.3 2.0 -2.9 75

76 FR264000005 Currency and deposits -1.1 -1.4 -0.6 -1.1 -1.5 -3.6 0.5 1.3 76

77 FR264022005 Debt securities 87.9 -268.0 -69.5 67.1 -356.3 527.1 626.5 -495.3 77

78 FR263069103 Open market paper -1.1 -1.4 -0.4 1.0 1.5 0.1 1.3 0.1 78

79 FR263061105 Treasury securities 94.0 -56.2 -43.0 -21.7 -61.5 196.5 305.2 -210.2 79

80 FR263061705 Agency- and GSE-backed securities 8.0 -3.7 -1.8 -0.4 -7.9 13.4 11.0 -8.2 80

81 FR263063005 Corporate bonds -12.9 -206.7 -24.2 88.2 -288.5 317.2 309.0 -276.9 81

82 FR263092303 Foreign direct investment in the U.S.: debt -10.0 2.3 -47.4 19.3 13.4 -12.9 -4.9 -23.2 82

83 FR263081005 Equity and investment fund shares 930.1 -457.8 839.6 2180.9 -1248.5 3816.4 3144.6 5458.7 83

84 FR263064105 Corporate equities 600.9 -228.2 468.1 1119.8 -500.8 1898.2 1725.6 2857.2 84

85 FR263064203 Mutual fund shares 22.7 -17.9 32.8 101.9 -58.4 150.2 125.4 131.9 85

86 FR263092101 Foreign direct investment in the U.S.: equity 306.5 -211.7 338.7 959.2 -689.3 1768.0 1293.6 2469.7 86

87 FR263096005 Other accounts receivable -0.2 -0.3 -0.2 0.4 -0.3 -2.4 -2.6 0.4 87

88 FR264194005 Liabilities -411.6 -855.5 305.4 3084.2 -2858.0 3011.5 1350.4 2232.0 88

89 FR313011303 SDR holdings -3.3 -2.3 -1.5 2.9 -1.2 -0.3 2.1 -3.0 89

90 FR264100005 Currency and deposits -9.4 -3.3 0.1 -2.5 -3.0 1.1 2.2 -5.6 90

91 FR263111503 Official foreign currencies -5.9 -2.8 -0.3 3.7 -0.8 -0.5 2.9 -3.6 91

92 FR263111403 Reserve position in IMF (net) -1.7 -1.1 -0.6 1.1 -0.4 -0.1 1.4 -1.0 92

93 FR263191005 U.S. private deposits -1.8 0.6 1.0 -7.2 -1.8 1.8 -2.1 -1.0 93

94 FR263191103 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 94

95 FR263163005 Debt securities (corporate bonds) 17.1 -102.6 49.5 135.3 -98.3 239.8 196.2 -172.7 95

96 FR264135005 Loans 7.9 4.4 -17.0 10.4 -0.9 -0.7 0.0 0.0 96

97 FR263169203 Short term (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 97

98 FR263192305 Long term (U.S. direct investment abroad: debt) 7.9 4.4 -17.0 10.4 -0.9 -0.7 0.0 0.0 98

99 FR263181105 Equity and investment fund shares -423.4 -751.1 274.6 2937.4 -2754.3 2771.4 1149.6 2413.6 99

100 FR263164100 Corporate equities -133.9 -211.4 226.8 1831.9 -1389.9 1603.8 741.0 1252.2 100

101 FR263192101 U.S. direct investment abroad: equity -289.6 -539.7 47.7 1105.5 -1364.4 1167.7 408.5 1161.3 101

102 FR263152005 Insurance, pension and standardized guarantee schemes 0.0 0.0 0.0 0.0 -0.0 0.2 -0.0 0.0 102

103 FR263196005 Other accounts payable -0.5 -0.6 -0.3 0.7 -0.3 0.0 0.3 -0.2 103

104 FR265000005 Changes in net worth due to nominal holding gains/losses 1415.1 128.2 415.0 -814.8 1263.6 1312.8 2415.8 2707.0 104

 Changes in balance sheet account

105 FC262090095 Change in net worth (lines 13+70+104) 1616.4 514.8 736.0 -456.7 1835.9 1797.0 2983.9 3255.7 105
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 Financial balance sheet account (end of period)

106 FL264090005 Total financial assets (4) 25206.7 25154.4 26777.6 30609.5 30141.1 35276.4 40516.5 47446.0 106

107 FL313111303 SDR allocations 51.2 48.9 47.5 50.3 49.1 48.8 50.9 160.8 107

108 FL264000005 Currency and deposits 1430.9 1385.0 1371.6 1571.0 1736.7 1710.4 1961.1 2121.6 108

109 FL263025003 Currency 558.2 596.6 638.9 708.6 773.9 825.2 946.5 994.9 109

110 FL263027003 Transferable deposits 116.0 110.2 128.0 139.9 154.1 161.8 196.5 214.2 110

111 FL263030005 Time deposits 499.2 480.2 550.8 564.6 601.9 599.8 665.1 692.7 111

112 FL264016005 Net interbank items due from U.S. banks 257.6 198.0 54.0 158.0 206.8 123.6 152.9 219.8 112

113 FL264022005 Debt securities 10174.2 10337.3 10661.1 11341.9 11186.0 12368.5 13254.2 13606.6 113

114 LM263069103 Open market paper 108.0 104.3 140.8 135.4 124.7 130.2 86.3 138.3 114

115 LM263061105 Treasury securities 6158.0 6146.2 6002.8 6211.3 6270.1 6917.8 7291.6 7747.7 115

116 LM263061705 Agency- and GSE-backed securities (2) 899.6 916.5 991.6 1012.2 1087.0 1230.7 1276.4 1250.3 116

117 FL263062003 Municipal securities 80.6 87.0 94.2 101.3 99.7 103.8 108.6 110.4 117

118 LM263063005 Corporate bonds 2928.0 3083.3 3431.7 3881.7 3604.4 3986.0 4491.3 4359.9 118

119 FL264035005 Loans 1655.8 1731.4 1854.2 2069.2 2306.2 2464.9 2492.6 2897.5 119

120 FL264041005 Short term 1094.7 1110.4 1174.8 1378.7 1704.8 1896.7 1988.0 2391.5 120

121 FL262051005 Security repurchases 924.0 902.8 971.5 1002.9 971.5 1066.0 1084.0 1365.4 121

122 FL263069500 Loans to U.S. corporate business 170.6 207.5 203.3 375.8 733.3 830.8 904.0 1026.1 122

123 FL263092303 Long term (U.S. direct investment abroad: debt) 561.1 621.0 679.4 690.5 601.3 568.2 504.6 505.9 123

124 FL263081005 Equity and investment fund shares 11538.3 11319.5 12393.6 15057.4 14284.8 18086.8 22086.6 27906.5 124

125 FL263034003 Money market fund shares 105.3 107.6 93.3 93.4 110.7 118.1 137.0 157.7 125

126 LM263064105 Corporate equities 5920.6 5500.9 5782.7 7019.4 6629.5 8278.5 10673.4 13484.4 126

127 LM263064203 Mutual fund shares 616.6 600.6 694.2 828.7 799.0 899.6 1024.3 1162.0 127

128 LM263092101 Foreign direct investment in the U.S.: equity 4895.8 5110.4 5823.4 7115.9 6745.5 8790.5 10251.9 13102.4 128

129 FL263052005 Insurance, pension and standardized guarantee schemes 51.0 47.2 60.6 74.2 85.0 88.0 63.1 66.0 129

130 FL263076005 Insurance receivables due from property-casualty insurance companies 35.7 38.6 39.8 50.1 59.2 61.3 59.1 65.1 130

131 FL543141905 Life insurance reserves 10.6 5.9 17.0 19.7 10.4 10.7 1.6 0.2 131

132 FL543151905 Pension entitlements 4.7 2.7 3.9 4.3 15.4 16.0 2.4 0.7 132

133 LM263096005 Other accounts receivable 305.4 285.1 388.9 445.5 493.2 509.1 608.0 687.0 133

134 FL262100005 Total liabilities and net worth 25206.7 25154.4 26777.6 30609.5 30141.1 35276.4 40516.5 47446.0 134

135 FL264194005 Total liabilities 18414.2 17847.2 18734.4 23023.0 20718.6 24057.0 26313.2 29987.0 135

136 FL313011303 SDR holdings 51.9 49.7 48.9 51.9 50.8 50.7 52.9 163.6 136

137 FL264100005 Currency and deposits 897.1 650.3 560.4 820.6 890.5 834.2 920.2 936.3 137

138 FL263111503 Official foreign currencies 41.8 39.1 38.9 42.6 41.8 41.4 44.4 40.6 138

139 FL263111403 Reserve position in IMF (net) 25.2 17.6 18.4 17.6 22.0 26.2 36.4 35.8 139

140 LM263191005 U.S. private deposits 827.6 590.9 500.6 757.7 824.1 764.0 836.8 857.2 140

141 FL313091105 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 141

142 FL264122005 Debt securities 2789.9 2623.1 2672.1 3186.3 3294.9 3558.3 3753.9 4232.4 142

143 FL263169105 Commercial paper 202.9 195.9 167.7 236.0 310.4 291.4 217.7 421.7 143

144 LM263163005 Bonds 2587.0 2427.2 2504.3 2950.2 2984.6 3266.9 3536.2 3810.7 144

145 FL264135005 Loans 1388.6 1515.4 1631.1 1609.3 1821.5 2039.2 2115.6 2097.8 145

146 FL264141005 Short term 1128.1 1268.5 1421.5 1428.0 1589.9 1917.8 2051.9 2081.5 146

147 FL262151003 Security repurchases 708.6 789.5 905.4 872.3 989.6 1223.8 1279.2 1173.0 147

148 FL263169005 Other loans and advances 37.4 37.5 36.0 56.4 50.6 57.6 55.9 52.6 148

149 FL263168005 Depository institution loans n.e.c. 380.5 440.5 474.6 487.3 545.5 632.6 698.9 852.6 149

150 FL713091103 Nonoff. foreign currencies (swap lines) 1.5 1.0 5.6 12.1 4.2 3.7 17.9 3.3 150

151 FL263192305 Long term (foreign direct investment in the U.S.: debt) 260.5 246.9 209.6 181.2 231.7 121.5 63.6 16.3 151

152 FL263181105 Equity and investment fund shares 12889.6 12630.0 13395.4 16866.7 14104.7 17009.4 18846.6 21842.2 152

153 LM263164100 Corporate equities 6770.6 6756.2 7146.3 9118.1 7899.6 9478.0 10615.0 12022.1 153

154 FL313092803 U.S. government equity in IBRD, etc. 59.4 61.5 63.3 64.8 66.1 67.5 69.3 70.5 154

155 LM263192101 U.S. direct investment abroad: equity 6059.6 5812.3 6185.8 7683.8 6139.1 7463.9 8162.3 9749.7 155

156 FL263152005 Insurance, pension and standardized guarantee schemes 216.4 226.3 248.2 295.6 323.0 334.3 399.4 480.9 156

157 LM263196005 Other accounts payable 180.7 152.4 178.3 192.7 233.1 230.9 224.6 233.7 157

158 LM263170005 Trade payables 65.6 66.5 69.0 77.1 79.4 81.6 81.6 84.8 158

159 FL263194735 Other investment by U.S. holding companies 115.0 86.0 109.3 115.6 153.6 149.2 143.0 148.9 159

160 FL262090095 Net worth (external account) 6792.4 7307.2 8043.3 7586.5 9422.5 11219.4 14203.3 17459.0 160

(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 2004:Q4.

(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 transactions, and other statistical differences between the capital and financial accounts.

(4) Nonfinancial assets, including nonproduced nonfinancial assets, are not included on the balance sheet.