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

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

March 10, 2016

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

Historical Annual Tables

1965–1974

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

i

Title Table Page

Summaries

Net National Wealth B.1 1

Distribution of Gross Domestic Product F.2 2

Distribution of National Income F.3 3

Saving and Investment F.4 4

Net Capital Transfers F.5 5

Derivation of Measures of Personal Saving F.6 6

Assets and Liabilities of the Personal Sector L.6 7

Title

Flows Levels

Table Page Table Page

Sectors

Domestic Nonfinancial F.100 8 L.100 69

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

Nonfinancial Business F.102 10 L.102 71

Nonfinancial Corporate Business F.103 11 L.103 72

Nonfinancial Noncorporate Business F.104 12 L.104 73

General Government F.105 13 L.105 74

Federal Government F.106 14 L.106 75

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

Domestic Financial F.108 16 L.108 77

Monetary Authority F.109 17 L.109 78

Private Depository Institutions F.110 18 L.110 79

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

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

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

Credit Unions F.114 21 L.114 82

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

Life Insurance Companies F.116 23 L.116 84

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

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

List of Data Tables
ii

Sectors

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

Private Pension Funds F.118 26 L.118 87

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

Private Pension Funds: Defined Contribution 

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

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

Federal Government Employee Retirement 

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

Federal Government Employee Retirement 

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

State and Local Government Employee Retirement 

Funds F.120 30 L.120 91

State and Local Government Employee 

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

State and Local Government Employee 

Retirement Funds: Defined Contribution 

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

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

Mutual Funds F.122 32 L.122 93

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

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

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

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

Finance Companies F.127 35 L.127 96

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

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

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

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

Holding Companies F.130 39 L.130 100

Funding Corporations F.131 40 L.131 101

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

Instruments

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

Special Drawing Rights (SDRs) Certificates and 

Treasury Currency F.201 42 L.201 103

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

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

Instruments

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

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

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

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

Debt Securities F.208 47 L.208 108

Open Market Paper F.209 48 L.209 109

Treasury Securities F.210 49 L.210 110

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

Municipal Securities F.212 51 L.212 112

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

Loans F.214 53 L.214 114

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

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

Total Mortgages F.217 56 L.217 117

Home Mortgages F.218 57 L.218 118

Multifamily Residential Mortgages F.219 57 L.219 118

Commercial Mortgages F.220 58 L.220 119

Farm Mortgages F.221 58 L.221 119

Consumer Credit F.222 59 L.222 120

Corporate Equities F.223 60 L.223 121

Mutual Fund Shares F.224 60 L.224 121

Trade Credit F.225 61 L.225 122

Life Insurance Reserves F.226 61 L.226 122

Pension Entitlements F.227 62 L.227 123

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

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

Direct Investment F.230 63 L.230 124

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

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

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

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

Sector Discrepancies F.7 68

Instrument Discrepancies F.8 68
iv

Title

Balance Sheet Reconciliation

Table Page Table Page

Balance Sheet and Changes in Net Worth

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

Nonfinancial Corporate Business B.103 130 R.103 133

Nonfarm Noncorporate Business B.104 131 R.104 134

Title

Flows Levels

Table Page Table Page

Supplementary Tables

Balance Sheet of Households and Nonprofit 

Organizations with Equity Detail B.101.e 135

Title Table Page

Integrated Macroeconomic Accounts for the United States

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

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

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

Nonfinancial Noncorporate Business S.4.a 142

Nonfinancial Corporate Business S.5.a 145

Financial Business S.6.a 148

Central Bank S.61.a 151

Private Depository Institutions S.62.a 153

Insurance Companies S.63.a 156

Pension Funds S.64.a 159

Other Financial Business S.65.a 162

Federal Government S.7.a 165

State and Local Governments S.8.a 168

Rest of the World S.9.a 171
S

u

m

m

a

r

y

Historical Annuals, 1965-1974, March 10, 2016 1

B.1 Derivation of U.S. Net Wealth

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 U.S. net wealth (1) 2816.1 2907.5 3227.2 3629.2 3707.5 3917.1 4329.3 4947.0 5217.8 5457.7 1

 2 Households’ direct holdings of nonfinancial assets 930.9 1006.0 1074.4 1200.8 1308.6 1390.7 1517.9 1714.2 1943.2 2064.4 2

 3 Real estate 696.3 748.9 794.2 889.6 968.7 1025.2 1127.7 1290.7 1472.6 1517.7 3

 4 Equipment (nonprofits) 5.3 5.8 6.3 6.9 7.6 8.4 9.1 10.6 12.5 16.4 4

 5 Intellectual property products (nonprofits) 1.5 1.7 2.0 2.3 2.6 2.9 3.1 3.5 4.0 4.6 5

 6 Consumer durable goods 227.9 249.5 271.9 302.1 329.7 354.3 377.9 409.5 454.0 525.7 6

 7 Nonfin. noncorporate businesses nonfinancial assets 556.9 597.8 631.5 685.7 734.6 778.6 861.9 969.8 1137.6 1292.6 7

 8 Real estate 458.5 493.6 523.0 569.3 609.0 648.1 719.6 812.0 952.7 1092.7 8

 9 Equipment 52.4 56.8 60.6 64.8 70.0 75.7 80.4 85.1 94.5 114.5 9

 10 Intellectual property products 6.5 6.7 7.0 7.3 7.8 8.1 8.2 8.3 8.5 9.0 10

 11 Inventories 39.6 40.7 40.8 44.2 47.9 46.8 53.6 64.4 81.9 76.5 11

 12 Fin. noncorporate businesses nonfinancial assets (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.7 12

 13 Market value of domestic corporations (3) 729.9 656.1 829.9 989.6 833.7 824.7 967.2 1192.7 928.3 623.5 13

 14 Nonfinancial corporate equity 623.8 547.9 712.2 843.2 705.1 702.2 823.8 1032.7 809.4 557.6 14

 15 Financial corporate equity 106.1 108.2 117.6 146.5 128.6 122.5 143.5 160.1 118.9 65.9 15

 16 Federal government nonfinancial assets (4) 262.5 278.6 299.2 319.0 342.3 369.3 391.0 422.4 463.6 531.6 16

 17 Structures 119.0 125.6 134.1 142.7 154.2 167.6 181.7 204.2 231.0 276.3 17

 18 Equipment 92.6 95.5 100.3 103.2 105.6 109.8 109.8 111.0 113.0 121.3 18

 19 Intellectual property products 50.9 57.5 64.8 73.1 82.4 91.9 99.5 107.3 119.6 134.0 19

 20 State and local governments nonfinancial assets (4) 288.9 319.2 348.8 387.3 437.4 499.0 550.1 603.3 692.2 876.5 20

 21 Structures 279.8 309.0 337.5 374.7 423.2 483.1 532.8 584.4 670.6 849.5 21

 22 Equipment 7.7 8.6 9.6 10.6 11.8 13.2 14.2 15.4 17.5 22.3 22

 23 Intellectual property products 1.3 1.5 1.8 2.0 2.4 2.8 3.1 3.5 4.1 4.7 23

 24 Net U.S. financial claims on the rest of the world 47.0 49.8 43.4 46.8 51.0 54.8 41.2 44.6 52.0 67.4 24

 25 U.S. financial claims on the rest of the world 108.2 113.8 127.0 142.3 155.9 168.8 183.6 214.9 227.8 256.9 25

 26 U.S. holdings of foreign corporate equities 5.0 4.3 5.2 6.5 7.0 6.6 7.6 10.5 10.0 9.0 26

 27 Other U.S. financial claims 103.1 109.5 121.8 135.8 149.0 162.2 176.0 204.4 217.8 247.9 27

 28 Less: Foreign financial claims on U.S. 61.2 64.0 83.6 95.5 105.0 114.0 142.4 170.3 175.8 189.5 28

 29 Foreign holdings of U.S. corporate equities 14.6 12.6 25.5 29.5 26.8 27.2 30.8 39.1 33.5 23.9 29

 30 Other foreign financial claims 46.6 51.4 58.1 65.9 78.2 86.8 111.6 131.3 142.3 165.6 30

 Memo:

 31 A. U.S. net wealth (line 1) 2816.1 2907.5 3227.2 3629.2 3707.5 3917.1 4329.3 4947.0 5217.8 5457.7 31

 32 Change in U.S. net wealth 215.4 91.4 319.7 402.0 78.3 209.6 412.3 617.7 270.8 239.9 32

 33 Percent change in U.S. net wealth 8.3 3.2 11.0 12.5 2.2 5.7 10.5 14.3 5.5 4.6 33

 34 B. Household net worth (5) 2785.8 2885.3 3184.4 3575.5 3642.0 3848.1 4254.1 4832.1 5043.4 5156.9 34

 35 Change in household net worth 197.8 99.5 299.1 391.1 66.4 206.2 405.9 578.0 211.3 113.4 35

 36 Percent change in household net worth 7.6 3.6 10.4 12.3 1.9 5.7 10.5 13.6 4.4 2.2 36

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

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

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

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

 because of differences in the valuation of assets.

(4) Excludes land and nonproduced nonfinancial assets.

(5) Household net worth is calculated as the difference between total assets and liabilities of the household and nonprofit organizations sector. See table B.101.
S

u

m

m

a

r

y

2 Historical Annuals, 1965-1974, March 10, 2016

F.2 Distribution of Gross Domestic Product (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross Domestic Product (GDP) 743.7 815.0 861.7 942.5 1019.9 1075.9 1167.8 1282.4 1428.5 1548.8 1

 2 Personal consumption expenditures (2) 443.6 480.6 507.4 557.5 604.5 647.7 701.0 769.4 851.1 932.0 2

 3 Durable goods 66.4 71.7 74.0 84.8 90.5 90.0 102.4 116.4 130.5 130.2 3

 4 Nondurable goods 163.3 177.9 185.0 199.8 214.2 228.8 239.7 257.4 286.1 321.4 4

 5 Services 213.9 231.0 248.4 272.8 299.8 328.9 358.9 395.6 434.5 480.5 5

 6 Gross private domestic investment 129.6 144.2 142.7 156.9 173.6 170.1 196.8 228.1 266.9 274.5 6

 7 Fixed investment (3) 120.4 130.6 132.8 147.9 164.4 168.1 188.6 219.0 251.0 260.5 7

 8 Nonresidential 85.2 97.2 99.2 107.7 120.0 124.6 130.4 146.6 172.7 191.1 8

 9 Household sector (nonprofit organizations) 5.9 6.2 6.2 6.4 7.4 7.8 8.6 10.7 11.3 11.2 9

 10 Nonfinancial corporate business 60.7 71.0 73.0 79.8 88.7 91.7 94.6 107.1 125.0 140.8 10

 11 Nonfinancial noncorporate business 15.2 16.4 16.0 16.3 18.4 19.3 20.3 21.6 27.0 27.1 11

 12 Financial institutions 3.5 3.6 4.0 5.1 5.5 5.8 6.9 7.2 9.5 11.9 12

 13 Residential 35.2 33.4 33.6 40.2 44.4 43.4 58.2 72.4 78.3 69.5 13

 14 Household sector 26.2 25.0 25.5 29.4 31.1 29.7 40.0 49.5 55.4 50.5 14

 15 Nonfinancial corporate business 1.0 0.9 0.8 0.4 0.6 0.6 0.8 0.9 1.0 0.8 15

 16 Nonfinancial noncorporate business 7.9 7.5 7.3 10.3 12.7 13.1 17.3 21.9 21.9 18.1 16

 17 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 17

 18 Change in private inventories 9.2 13.6 9.9 9.1 9.2 2.0 8.3 9.1 15.9 14.0 18

 19 Nonfinancial corporate business 6.7 12.0 7.8 6.7 8.0 2.4 5.8 7.6 12.5 14.6 19

 20 Nonfinancial noncorporate business 2.5 1.6 2.1 2.4 1.2 -0.4 2.5 1.5 3.4 -0.7 20

 21 Net U.S. exports of goods and services 5.6 3.9 3.6 1.3 1.4 3.9 0.6 -3.4 4.1 -0.8 21

 22 Exports 37.1 40.9 43.5 47.9 51.9 59.7 63.0 70.8 95.3 126.7 22

 23 - Imports 31.5 37.1 39.9 46.6 50.5 55.8 62.3 74.2 91.2 127.5 23

 Government consumption expenditures and

 24 gross investment 164.9 186.4 208.1 226.8 240.4 254.2 269.3 288.2 306.4 343.1 24

 25 Consumption expenditures (4) 117.0 132.8 150.4 167.5 180.9 194.4 210.8 227.6 240.7 267.0 25

 26 Federal 66.5 76.5 88.0 96.8 100.4 102.3 106.6 112.2 113.9 122.5 26

 27 State and local 50.6 56.4 62.4 70.7 80.4 92.1 104.2 115.4 126.8 144.5 27

 28 Gross investment (4) 47.9 53.6 57.7 59.2 59.5 59.8 58.5 60.7 65.6 76.2 28

 29 Federal 26.7 30.1 31.9 31.1 30.7 30.5 27.8 29.3 31.7 35.7 29

 30 State and local 21.2 23.5 25.7 28.1 28.8 29.3 30.7 31.3 34.0 40.5 30

 Memo:

 31 Net U.S. income receipts from rest of world 5.3 5.1 5.4 6.1 6.1 6.4 7.6 8.6 12.6 15.5 31

 32 U.S. income receipts 7.9 8.1 8.7 10.1 11.8 12.8 14.0 16.3 23.5 29.8 32

 33 - U.S. income payments 2.6 3.0 3.3 4.0 5.7 6.4 6.4 7.7 10.9 14.3 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 749.0 820.1 867.1 948.6 1026.0 1082.3 1175.4 1291.0 1441.2 1564.3 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -1.0 -1.1 -1.1 -1.1 -0.8 -0.8 -1.2 -1.3 -1.3 -1.4 35

 36 Nonfinancial corporate business -0.8 -1.0 -0.1 0.6 -0.3 0.0 0.1 0.3 2.8 5.2 36

 37 Federal government 0.5 0.6 -0.2 -0.9 0.1 -0.3 -0.4 -0.7 -3.2 -5.7 37

 38 State and local governments 1.3 1.4 1.4 1.4 1.0 1.1 1.6 1.7 1.7 1.9 38

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

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

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

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

(4) Government inventory investment is included in consumption expenditures.
S

u

m

m

a

r

y

Historical Annuals, 1965-1974, March 10, 2016 3

F.3 Distribution of National Income (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 National Income 660.3 719.7 760.2 832.1 899.5 940.1 1017.0 1123.0 1257.0 1350.8 1

 2 Compensation of employees 406.3 450.3 482.9 532.1 586.0 625.1 667.0 733.6 815.0 890.3 2

 3 Wages and salaries 363.8 400.3 429.0 472.0 518.3 551.6 584.5 638.8 708.8 772.3 3

 4 Supplements to wages and salaries 42.6 50.0 53.9 60.1 67.7 73.6 82.5 94.9 106.3 118.0 4

 5 Proprietors’ income with IVA and CCAdj 63.7 67.9 69.5 73.8 77.0 77.8 83.9 95.1 112.5 112.2 5

 6 Rental income of persons with CCAdj 19.3 19.9 20.3 20.1 20.4 20.7 21.9 22.8 23.3 23.3 6

 7 Corporate profits with IVA and CCAdj 89.3 96.1 93.9 101.7 98.4 86.2 100.6 117.2 133.4 125.7 7

 8 Corporate profits with IVA 81.9 88.3 86.1 94.3 90.8 79.7 94.7 109.3 126.6 123.3 8

 9 Profits before tax 83.1 90.4 87.6 97.9 96.7 86.3 99.3 115.9 146.1 161.5 9

 10 Domestic nonfinancial 69.1 75.1 71.6 79.4 76.4 63.7 73.5 86.9 110.1 123.3 10

 11 Domestic financial 9.3 10.7 11.2 12.9 13.6 15.5 17.9 19.5 21.1 20.8 11

 12 Rest of the world 4.7 4.5 4.8 5.6 6.6 7.1 7.9 9.5 14.9 17.5 12

 Less:

 13 Taxes on corporate income 31.1 33.9 32.9 39.6 40.0 34.8 38.2 42.3 50.0 52.8 13

 14 Domestic nonfinancial 27.1 29.5 27.8 33.5 33.3 27.3 30.0 33.8 40.4 42.8 14

 15 Domestic financial 3.9 4.4 5.1 6.1 6.6 7.5 8.2 8.5 9.6 9.9 15

 Equals:

 16 Profits after tax 52.0 56.5 54.7 58.3 56.7 51.5 61.1 73.5 96.2 108.7 16

 17 Net dividends 20.2 20.7 21.5 23.5 24.2 24.3 25.0 26.8 29.9 33.2 17

 18 Domestic nonfinancial 16.2 16.8 17.3 19.0 19.0 18.3 18.1 19.7 20.8 21.5 18

 19 Domestic financial 0.7 1.1 1.1 1.1 1.4 2.1 2.2 2.3 2.4 1.9 19

 20 Rest of the world 3.3 2.8 3.2 3.4 3.8 3.9 4.7 4.9 6.8 9.8 20

 21 Undistributed profits 31.8 35.8 33.2 34.7 32.4 27.2 36.1 46.7 66.3 75.5 21

 22 Domestic nonfinancial 25.8 28.9 26.5 26.8 24.1 18.1 25.4 33.4 49.0 58.9 22

 23 Domestic financial 4.7 5.3 5.1 5.7 5.6 5.9 7.5 8.6 9.2 8.9 23

 24 Rest of the world 1.4 1.7 1.6 2.3 2.8 3.2 3.2 4.6 8.1 7.7 24

 25 Inventory valuation adjustment (IVA) -1.2 -2.1 -1.6 -3.7 -5.9 -6.6 -4.6 -6.6 -19.6 -38.2 25

 26 Capital consumption adjustment (CCAdj) 7.4 7.8 7.8 7.5 7.6 6.5 6.0 7.9 6.8 2.4 26

 27 Domestic nonfinancial 7.6 8.1 8.0 7.6 7.8 6.7 6.2 8.0 6.7 2.4 27

 28 Domestic financial -0.1 -0.2 -0.2 -0.1 -0.1 -0.2 -0.2 -0.1 0.1 0.0 28

 29 Net interest and miscellaneous payments 19.8 22.5 25.7 27.6 33.6 40.5 45.2 49.3 57.2 73.5 29

 30 Taxes on production and imports 60.7 63.2 67.9 76.4 83.9 91.4 100.5 107.9 117.2 124.9 30

 31 Less: Subsidies 3.0 3.9 3.8 4.2 4.5 4.8 4.7 6.6 5.2 3.3 31

 32 Business current transfer payments (net) 3.5 3.4 3.6 4.2 4.8 4.4 4.2 4.8 5.7 6.8 32

 33 To persons (net) 2.3 2.1 2.3 2.8 3.3 2.9 2.7 3.1 3.9 4.7 33

 34 To government (net) 1.2 1.3 1.4 1.4 1.5 1.4 1.5 1.7 1.8 2.1 34

 35 To rest of the world (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Current surplus of government enterprises 0.7 0.3 0.2 0.3 0.0 -1.2 -1.7 -1.2 -2.2 -2.7 36

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 37 National Income, from line 1 above 660.3 719.7 760.2 832.1 899.5 940.1 1017.0 1123.0 1257.0 1350.8 37

 Plus:

 38 Private consumption of fixed capital 61.6 67.2 73.3 80.6 89.4 98.3 107.6 117.5 131.5 153.2 38

 39 Government consumption of fixed capital 26.4 28.1 30.2 32.7 35.4 38.5 41.2 43.4 46.6 53.0 39

 40 Statistical discrepancy 0.8 5.1 3.4 3.2 1.6 5.4 9.5 7.1 6.1 7.4 40

 Less:

 41 Net U.S. income receipts from rest of world 5.3 5.1 5.4 6.1 6.1 6.4 7.6 8.6 12.6 15.5 41

 Equals:

 42 Gross Domestic Product 743.7 815.0 861.7 942.5 1019.9 1075.9 1167.8 1282.4 1428.5 1548.8 42

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

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
S

u

m

m

a

r

y

4 Historical Annuals, 1965-1974, March 10, 2016

F.4 Saving and Investment by Sector (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 182.9 196.4 200.4 214.5 233.1 228.2 246.2 277.7 335.3 349.3 1

 2 Net saving 94.9 101.1 96.9 101.2 108.2 91.4 97.3 116.8 157.3 143.1 2

 3 Net private saving 96.3 102.9 111.7 110.7 109.2 123.2 147.5 157.2 185.3 181.4 3

 4 Domestic business 38.0 41.6 39.5 38.6 34.2 27.2 37.5 48.0 53.5 39.7 4

 5 Nonfinancial corporate business 33.5 36.5 34.6 33.1 28.7 21.4 30.1 39.4 43.9 30.5 5

 6 Financial business 4.5 5.1 4.9 5.5 5.5 5.8 7.3 8.7 9.6 9.2 6

 7 Households and institutions 58.3 61.4 72.2 72.1 75.0 96.1 110.1 109.2 131.8 141.7 7

 8 Net government saving -1.4 -1.8 -14.8 -9.5 -1.0 -31.8 -50.2 -40.5 -28.0 -38.3 8

 9 Federal -5.5 -7.0 -19.5 -13.7 -5.1 -34.8 -50.8 -48.9 -37.7 -40.6 9

 10 State and local 4.1 5.2 4.7 4.3 4.1 3.0 0.6 8.4 9.6 2.3 10

 11 Consumption of fixed capital 88.0 95.3 103.5 113.3 124.9 136.8 148.9 160.9 178.1 206.2 11

 12 Private 61.6 67.2 73.3 80.6 89.4 98.3 107.6 117.5 131.5 153.2 12

 13 Domestic business 50.9 55.6 60.9 67.0 74.2 81.8 89.4 97.2 108.2 126.1 13

 14 Nonfinancial corporate business 35.8 39.4 43.5 48.1 53.5 59.3 64.7 70.2 78.2 91.4 14

 15 Nonfinancial noncorporate business 13.5 14.5 15.4 16.6 18.1 19.5 21.3 23.1 25.5 29.3 15

 16 Financial business 1.6 1.8 2.0 2.3 2.6 3.0 3.4 3.8 4.5 5.4 16

 17 Households and institutions 10.7 11.5 12.4 13.6 15.2 16.5 18.2 20.3 23.3 27.0 17

 18 Government 26.4 28.1 30.2 32.7 35.4 38.5 41.2 43.4 46.6 53.0 18

 19 Federal 20.0 21.0 22.4 24.1 25.8 27.6 29.0 30.1 31.7 34.7 19

 20 State and local 6.4 7.1 7.8 8.6 9.7 10.9 12.2 13.3 14.9 18.3 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 183.7 201.6 203.8 217.7 234.7 233.6 255.6 284.8 341.4 356.7 21

 22 Gross domestic investment 177.5 197.8 200.4 216.2 233.1 229.8 255.3 288.8 332.6 350.7 22

 23 Gross private domestic investment 129.6 144.2 142.7 156.9 173.6 170.1 196.8 228.1 266.9 274.5 23

 24 Domestic business 97.5 113.0 111.0 121.1 135.1 132.6 148.2 167.9 200.2 212.8 24

 25 Nonfinancial corporate business 68.3 83.9 81.6 86.9 97.1 94.6 101.0 115.2 138.0 155.9 25

 26 Nonfinancial noncorporate business 25.7 25.5 25.5 29.0 32.4 32.1 40.3 45.5 52.7 45.0 26

 27 Financial business 3.5 3.6 4.0 5.1 5.5 5.8 6.9 7.2 9.5 11.9 27

 28 Households and institutions 32.1 31.2 31.7 35.9 38.5 37.5 48.7 60.2 66.7 61.7 28

 29 Gross government investment 47.9 53.6 57.7 59.2 59.5 59.8 58.5 60.7 65.6 76.2 29

 30 Federal 26.7 30.1 31.9 31.1 30.7 30.5 27.8 29.3 31.7 35.7 30

 31 State and local 21.2 23.5 25.7 28.1 28.8 29.3 30.7 31.3 34.0 40.5 31

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

 33 Private 1.8 1.8 2.7 3.5 3.5 3.8 4.5 5.7 7.9 9.9 33

 34 Domestic business -0.9 -1.0 -0.2 0.5 -0.4 -0.1 -0.1 0.1 2.6 5.0 34

 35 Nonfinancial corporate business -0.9 -1.0 -0.2 0.5 -0.4 -0.1 -0.1 0.1 2.6 5.0 35

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

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

 38 Households and institutions 2.6 2.8 2.9 3.0 3.9 3.9 4.5 5.5 5.3 4.9 38

 39 Government -1.8 -1.8 -2.7 -3.5 -3.5 -3.8 -4.5 -5.6 -7.9 -9.8 39

 40 Federal 1.7 2.0 1.0 2.0 2.4 1.3 0.9 -0.0 -2.3 -2.5 40

 41 State and local -3.5 -3.8 -3.7 -5.4 -5.9 -5.1 -5.4 -5.6 -5.6 -7.3 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) 6.2 3.8 3.5 1.5 1.6 3.7 0.3 -4.1 8.8 5.9 42

 43 Private 27.2 29.2 43.0 34.0 23.3 53.0 63.4 48.0 48.0 57.6 43

 44 Domestic business -7.0 -9.7 -7.1 -12.8 -24.7 -18.1 -11.7 -15.8 -35.1 -44.6 44

 45 Nonfinancial corporate business (3) 2.6 -1.8 0.1 -3.1 -12.9 -8.5 3.5 1.3 -12.5 -31.7 45

 46 Nonfinancial noncorporate business -12.3 -11.1 -10.0 -12.4 -14.4 -12.6 -19.1 -22.4 -27.2 -15.7 46

 47 Financial business 2.7 3.2 2.9 2.7 2.7 3.0 3.9 5.3 4.5 2.8 47

 48 Households and institutions 34.2 38.9 50.1 46.9 47.9 71.1 75.1 63.8 83.2 102.2 48

 49 Government -21.1 -25.4 -39.5 -32.5 -21.7 -49.3 -63.1 -52.1 -39.2 -51.6 49

 50 Federal -13.9 -18.0 -30.0 -22.7 -12.5 -39.0 -50.5 -48.1 -35.3 -39.1 50

 51 State and local -7.2 -7.4 -9.5 -9.8 -9.2 -10.3 -12.5 -4.0 -3.9 -12.6 51

 52 Statistical discrepancy (line 21 less line 1) 0.8 5.1 3.4 3.2 1.6 5.4 9.5 7.1 6.1 7.4 52

 Addenda:

 53 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.1 1.6 0.6 0.2 53

 54 Private 0.0 0.0 0.0 0.0 0.0 0.0 0.1 1.6 0.6 0.2 54

 55 Domestic business 0.0 0.0 0.0 0.0 0.0 0.0 0.1 1.0 0.5 0.1 55

 56 Households and institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 0.2 0.1 56

 57 Government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

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

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

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

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

(2) Consists of net capital transfers shown on table F.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).
S

u

m

m

a

r

y

Historical Annuals, 1965-1974, March 10, 2016 5

F.5 Net Capital Transfers (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Capital transfers paid, by sector 7.6 8.3 8.2 10.1 10.5 10.0 11.7 12.9 12.6 14.2 1

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

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

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

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

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

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

 8 By government 4.0 4.4 4.3 6.0 5.9 5.3 5.9 6.1 6.0 7.9 8

 9 Federal 4.0 4.4 4.3 6.0 5.9 5.3 5.9 6.1 6.0 7.9 9

 10 Investment grants to state and local govts. 4.0 4.3 4.2 5.9 5.8 5.1 5.8 5.8 5.8 7.7 10

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

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

 13 Other capital transfers paid to business 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 13

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

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

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

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

 18 By persons 3.6 3.9 4.0 4.1 4.6 4.8 5.8 6.8 6.6 6.3 18

 19 Estate and gift taxes, federal 2.8 3.0 3.1 3.1 3.6 3.7 4.6 5.4 5.1 4.8 19

 20 Estate and gift taxes, state and local 0.8 0.8 0.9 1.0 1.1 1.1 1.2 1.4 1.5 1.5 20

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

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

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

 24 Capital transfers received, by sector 7.6 8.3 8.2 10.1 10.5 10.0 11.7 12.9 12.6 14.2 24

 25 By private business 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 25

 26 Financial corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

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

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

 29 Nonfinancial corporations 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 29

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

 31 Other 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 31

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

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

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

 35 By government 7.6 8.2 8.2 10.0 10.4 9.9 11.6 12.6 12.4 14.0 35

 36 Federal 2.8 3.0 3.1 3.1 3.6 3.7 4.6 5.4 5.1 4.8 36

 37 Estate and gift taxes paid by persons 2.8 3.0 3.1 3.1 3.6 3.7 4.6 5.4 5.1 4.8 37

 38 State and local 4.7 5.1 5.1 6.8 6.8 6.2 7.0 7.3 7.3 9.2 38

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

 40 Estate and gift taxes paid by persons 0.8 0.8 0.9 1.0 1.1 1.1 1.2 1.4 1.5 1.5 40

 41 Investment grants paid by federal government 4.0 4.3 4.2 5.9 5.8 5.1 5.8 5.8 5.8 7.7 41

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

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

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

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

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

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

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

 Addenda: Net capital transfers paid by sector

 49 By private business (lines 2-25) -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 -0.2 49

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

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

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

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

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

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

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

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

 58 Nonfinancial corporations (lines 6-29) -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 -0.2 58

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

 60 By government (lines 8-35) -3.5 -3.8 -3.9 -4.0 -4.5 -4.6 -5.6 -6.6 -6.4 -6.0 60

 61 Federal (lines 9-36) 1.2 1.3 1.2 2.9 2.3 1.6 1.4 0.7 0.9 3.1 61

 62 State and local (lines 16-38) -4.7 -5.1 -5.1 -6.8 -6.8 -6.2 -7.0 -7.3 -7.3 -9.2 62

 63 By persons (lines 18-43) 3.6 3.9 4.0 4.1 4.6 4.8 5.8 6.8 6.6 6.3 63

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

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

(2) Sum of lines 53, 55, 56, and 57 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Financial Accounts of the United States.
S

u

m

m

a

r

y

6 Historical Annuals, 1965-1974, March 10, 2016

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

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets 72.6 81.5 93.6 91.5 100.9 118.1 148.3 168.1 189.6 202.4 1

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

 3 Checkable deposits and currency 6.8 1.9 10.3 9.1 -1.7 7.7 13.6 13.9 12.7 5.3 3

 4 Time and savings deposits 27.5 18.6 35.2 30.2 8.6 43.6 69.1 74.9 62.2 57.0 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 5

 6 Debt securities 3.3 18.0 3.3 6.1 37.5 0.4 -6.3 -3.9 24.9 39.0 6

 7 Open market paper 0.9 2.3 1.8 2.0 6.4 -2.0 -2.8 -4.4 4.8 5.9 7

 8 Treasury securities 1.2 4.3 0.0 2.9 11.6 -9.9 -8.6 3.4 11.2 6.6 8

 9 Agency- and GSE-backed securities 0.9 4.7 0.4 -0.1 5.2 4.6 -1.3 -5.7 -0.6 6.4 9

 10 Municipal securities 1.7 4.6 -3.0 -1.6 10.8 -0.1 -1.2 1.7 6.6 7.1 10

 11 Corporate and foreign bonds -1.3 2.1 4.0 2.9 3.6 7.7 7.6 1.1 3.0 12.9 11

 12 Loans 1.3 1.8 4.3 5.0 -0.4 3.6 -2.3 1.1 0.9 3.0 12

 13 Corporate equities (2) -10.6 -9.8 -13.6 -19.7 -17.2 -4.4 -6.0 -10.4 -3.7 -1.2 13

 14 Mutual fund shares 2.1 2.2 0.9 2.2 2.7 1.1 0.3 -1.4 -2.2 -1.4 14

 15 Life insurance reserves 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 15

 16 Pension entitlements 35.7 41.6 45.2 52.3 62.5 58.3 64.1 77.2 77.0 84.3 16

 17 Miscellaneous and other assets 1.7 2.5 2.8 1.4 3.8 2.4 9.4 9.8 10.5 7.0 17

 18 Gross investment in nonfinancial assets 118.5 122.5 124.9 143.1 153.9 152.3 182.7 211.1 238.6 225.8 18

 19 Residential fixed investment 34.2 32.5 32.8 39.7 43.8 42.8 57.3 71.4 77.3 68.6 19

 20 Nonresidential fixed investment 21.1 22.5 22.2 22.7 25.8 27.1 28.9 32.4 38.2 38.3 20

 21 Consumer durables 61.7 66.9 68.8 79.4 83.8 83.6 95.1 107.1 121.0 120.9 21

 22 Nonproduced nonfinancial assets -1.0 -1.1 -1.1 -1.1 -0.8 -0.8 -1.2 -1.3 -1.3 -1.4 22

 23 Inventories 2.5 1.6 2.1 2.4 1.2 -0.4 2.5 1.5 3.4 -0.7 23

 24 Consumption of fixed capital 69.9 75.0 80.7 88.8 97.6 105.3 114.8 124.4 137.8 155.9 24

 25 Residential fixed investment 11.8 12.7 13.7 15.0 16.8 18.1 20.0 22.5 25.8 29.9 25

 26 Nonresidential fixed investment 12.3 13.2 14.2 15.3 16.5 17.9 19.4 21.0 23.0 26.5 26

 27 Consumer durables 45.8 49.0 52.8 58.5 64.3 69.3 75.3 81.0 89.0 99.6 27

 28 Net investment in nonfinancial assets (3) 48.6 47.4 44.2 54.3 56.2 46.9 67.9 86.6 100.8 69.9 28

 29 Residential fixed investment 22.4 19.7 19.1 24.8 27.0 24.7 37.3 48.9 51.4 38.7 29

 30 Nonresidential fixed investment 8.7 9.3 8.0 7.4 9.3 9.2 9.5 11.4 15.2 11.8 30

 31 Consumer durables 15.9 17.9 16.0 20.9 19.5 14.3 19.9 26.1 32.1 21.4 31

 32 Nonproduced nonfinancial assets -1.0 -1.1 -1.1 -1.1 -0.8 -0.8 -1.2 -1.3 -1.3 -1.4 32

 33 Inventories 2.5 1.6 2.1 2.4 1.2 -0.4 2.5 1.5 3.4 -0.7 33

 34 Net increase in liabilities 38.4 31.4 45.2 33.9 45.1 33.5 72.2 98.1 91.7 103.5 34

 35 Home mortgages 17.1 13.0 13.4 17.1 17.7 12.7 26.2 38.0 42.5 35.9 35

 36 Other mortgages 7.7 7.2 10.8 7.1 11.7 4.2 17.6 24.3 4.2 27.3 36

 37 Consumer credit 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 37

 38 Other loans and advances 1.2 1.9 4.5 4.6 -0.5 1.3 3.9 5.1 -1.9 1.6 38

 39 Other liabilities 2.3 3.4 11.4 -5.5 6.3 10.9 8.8 11.2 24.4 29.8 39

 40 Net capital transfers paid (4) 3.6 3.9 4.0 4.1 4.6 4.8 5.8 6.8 6.6 6.3 40

 41 Personal saving, FOF concept (FOF) 86.4 101.4 96.5 116.0 116.6 136.3 149.8 163.4 205.3 175.0 41

 42 - Net investment in consumer durables 15.9 17.9 16.0 20.9 19.5 14.3 19.9 26.1 32.1 21.4 42

 43 - Government insurance and pension fund reserves (5) 0.3 0.3 0.3 -0.0 -0.1 0.1 -0.2 -0.0 -0.2 -0.3 43

 44 + Contr. for govt. soc. insur., U.S.-affiliated areas 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.4 0.5 0.6 44

 45 = Personal saving, NIPA concept (FOF) (6) 70.2 83.4 80.3 95.2 97.4 122.2 130.5 137.7 174.0 154.5 45

 46 Personal saving, NIPA concept (NIPA) 58.3 61.4 72.2 72.1 75.0 96.1 110.1 109.2 131.8 141.7 46

 47 Difference 12.0 22.0 8.1 23.2 22.4 26.1 20.4 28.5 42.2 12.8 47

 Memo:

 48 Disposable personal income 513.2 554.2 592.8 643.7 695.8 761.5 830.4 899.9 1006.1 1098.3 48

 Personal saving as a percentage of disposable personal income:

 49 FOF concept (FOF data) (line 41) 16.83 18.30 16.28 18.01 16.77 17.89 18.04 18.15 20.41 15.93 49

 50 NIPA concept (FOF data) (line 44) 13.69 15.05 13.55 14.79 14.00 16.05 15.71 15.30 17.30 14.07 50

 51 NIPA concept (NIPA data) (line 45) 11.36 11.07 12.18 11.20 10.78 12.61 13.26 12.13 13.10 12.90 51

 52 Difference (line 46) 2.33 3.98 1.37 3.60 3.22 3.43 2.46 3.17 4.20 1.16 52

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

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

(3) Line 18 less line 24.

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

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

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

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

 plus net capital transfers paid (line 40). Personal savings, NIPA concept (NIPA) (line 46) is disposable personal income (line 48) less personal outlays (table F.101, line 4).
S

u

m

m

a

r

y

Historical Annuals, 1965-1974, March 10, 2016 7

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

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 1759.3 1774.5 2016.6 2261.4 2214.7 2324.3 2591.9 2963.8 2890.7 2831.3 1

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

 3 Checkable deposits and currency 109.8 111.7 122.1 131.2 129.5 137.2 150.9 163.5 176.2 181.1 3

 4 Time and savings deposits 288.5 307.1 342.3 372.5 381.3 424.9 494.0 568.8 631.1 688.8 4

 5 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 5

 6 Debt securities 127.5 145.5 148.8 154.8 192.8 193.1 186.8 182.9 208.7 250.2 6

 7 Open market paper 6.0 8.3 10.1 12.2 18.5 16.6 13.8 9.3 14.1 22.5 7

 8 Treasury securities 74.8 79.1 79.1 82.0 93.7 83.7 75.1 78.5 89.7 97.5 8

 9 Agency- and GSE-backed securities 1.1 5.9 6.3 6.1 11.3 15.9 14.6 8.9 8.3 13.7 9

 10 Municipal securities 36.5 41.2 38.2 36.5 47.2 47.1 46.0 47.7 55.1 62.2 10

 11 Corporate and foreign bonds 9.0 11.1 15.1 18.0 22.0 29.7 37.4 38.5 41.5 54.4 11

 12 Loans 46.3 48.5 52.6 57.8 55.9 58.2 56.5 57.6 57.5 60.5 12

 13 Other loans and advances -0.3 -0.1 2.2 4.9 2.7 3.6 3.6 2.7 3.6 3.4 13

 14 Mortgages 42.6 44.6 46.6 49.1 49.5 50.8 49.2 51.3 50.5 54.0 14

 15 Consumer credit 4.0 4.0 3.9 3.9 3.7 3.8 3.7 3.6 3.4 3.1 15

 16 Corporate equities (2) 616.1 548.3 682.1 815.3 667.4 650.2 743.7 921.4 693.9 445.0 16

 17 Mutual fund shares 34.4 33.9 43.0 49.5 45.6 44.5 53.0 56.4 43.7 31.8 17

 18 Life insurance reserves 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 18

 19 Pension entitlements 397.9 433.6 471.8 520.1 573.5 639.5 714.6 804.2 852.6 930.2 19

 20 Life insurance companies 27.3 29.4 31.9 34.7 37.6 41.0 46.1 52.1 56.1 60.4 20

 21 Private pension funds 105.9 116.2 129.9 145.4 164.2 185.9 205.9 233.8 251.9 274.0 21

 22 Governments 264.6 288.1 310.0 339.9 371.7 412.6 462.6 518.4 544.6 595.9 22

 23 Miscellaneous and other assets 32.9 35.4 38.4 39.7 43.5 45.9 55.3 65.1 75.8 82.8 23

 24 Total liabilities 461.3 493.0 538.2 572.3 615.9 645.5 717.6 815.6 928.0 1031.3 24

 25 Home mortgages 219.4 232.7 246.0 262.9 278.7 291.0 316.6 354.6 396.3 432.0 25

 26 Other mortgages 79.1 86.3 97.1 104.2 115.9 116.6 134.2 158.5 162.7 189.9 26

 27 Consumer credit 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 27

 28 Other loans and advances 16.0 17.9 22.4 27.3 26.8 28.1 32.0 37.1 35.3 37.0 28

 29 Other liabilities 49.3 52.7 64.1 58.5 65.3 76.2 85.5 96.6 140.7 170.5 29

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 17), life insurance reserves (line 18), and pension entitlements (line 19).
Flo

ws

8 Historical Annuals, 1965-1974, March 10, 2016

F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving less net capital transfers paid 238.3 256.3 262.2 285.9 308.4 302.7 330.1 371.7 441.6 454.8 1

 2 Gross investment 242.3 266.8 262.3 296.3 317.0 314.4 336.8 397.3 455.8 451.4 2

 3 Capital expenditures 235.8 261.0 265.2 290.4 311.4 307.6 343.6 388.6 444.0 459.7 3

 4 Consumer durables 61.7 66.9 68.8 79.4 83.8 83.6 95.1 107.1 121.0 120.9 4

 5 Fixed residential investment 35.9 34.2 34.5 41.2 45.7 44.9 59.9 73.8 79.8 71.1 5

 6 Fixed nonresidential investment 128.9 146.3 152.0 160.7 172.6 177.1 180.3 198.6 227.3 253.7 6

 7 Inventory change 9.2 13.6 9.9 9.1 9.2 2.0 8.3 9.1 15.9 14.0 7

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

 9 Net lending (+) or net borrowing (-) 6.5 5.8 -2.9 5.9 5.6 6.7 -6.7 8.7 11.9 -8.2 9

 10 Net acqisition of financial assets 113.2 108.0 117.6 139.6 145.3 145.0 205.4 249.0 304.0 239.0 10

 11 U.S. official reserve assets 0.3 -0.3 0.6 1.9 1.6 -1.8 -1.6 0.6 -0.1 1.4 11

 12 Foreign deposits -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 12

 13 Checkable deposits and currency 5.0 1.3 14.2 8.9 7.4 11.2 16.5 15.9 12.3 2.1 13

 14 Time and savings deposits 32.1 19.5 38.6 32.9 -2.8 55.5 80.6 84.1 73.4 65.8 14

 15 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 15

 16 Security repurchase agreements 1.3 1.8 -0.8 -1.1 6.1 -7.1 1.4 1.5 10.0 -7.5 16

 17 Debt securities 4.6 17.9 1.6 12.3 39.2 -0.7 -3.7 3.3 30.1 50.1 17

 18 Open market paper 0.5 3.7 2.9 3.2 8.9 -0.2 -0.9 -1.5 5.4 10.0 18

 19 Treasury securities 1.4 3.4 -2.8 3.5 11.4 -9.4 -6.2 3.5 8.0 8.4 19

 20 Agency- and GSE-backed securities 1.3 5.1 0.7 3.8 5.5 1.7 -3.8 -2.3 7.1 10.4 20

 21 Municipal securities 2.5 3.6 -3.3 -1.1 9.8 -0.6 -0.4 2.4 6.6 8.3 21

 22 Corporate and foreign bonds -1.3 2.1 4.0 2.9 3.6 7.7 7.6 1.1 3.0 12.9 22

 23 Loans 5.3 6.1 9.2 10.4 4.9 8.0 4.3 5.0 6.0 13.3 23

 24 Other loans and advances 3.4 3.1 5.9 6.4 1.2 3.5 3.2 1.6 5.3 3.5 24

 25 Mortgages 0.7 2.9 3.2 3.9 3.6 3.8 -1.5 2.8 1.5 9.1 25

 26 Consumer credit 1.2 0.1 0.2 0.1 0.1 0.8 2.5 0.6 -0.8 0.8 26

 27 Corporate equities -10.6 -9.8 -13.6 -19.7 -17.2 -4.4 -6.0 -10.4 -3.7 -1.2 27

 28 Mutual fund shares 2.1 2.3 1.1 2.4 2.7 1.0 0.3 -1.4 -2.0 -1.1 28

 29 Trade receivables 14.2 14.8 10.9 18.7 25.4 6.8 13.1 27.7 46.3 32.9 29

 30 Life insurance reserves 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 30

 31 Pension entitlements 35.7 41.6 45.2 52.3 62.5 58.3 64.1 77.2 77.0 84.3 31

 32 Taxes payable 1.3 -1.4 -5.0 1.0 -3.2 -2.6 2.7 1.4 3.1 1.7 32

 33 Equity in noncorporate business 3.8 3.5 0.9 3.2 0.1 -0.4 1.8 -4.9 10.1 -27.0 33

 34 U.S. direct investment abroad 4.8 5.2 4.5 5.0 5.6 7.1 7.0 7.0 10.5 7.9 34

 35 Miscellaneous assets 8.7 0.6 4.9 6.3 8.3 8.8 18.2 34.3 22.5 7.0 35

 36 Net increase in liabilities 106.6 102.2 120.5 133.7 139.7 138.3 212.1 240.3 292.1 247.2 36

 37 U.S. official reserve assets 0.0 0.0 0.0 0.0 0.0 0.9 0.7 0.7 0.0 0.0 37

 38 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 38

 39 Treasury currency 0.2 0.9 0.7 0.4 0.3 0.2 0.5 0.5 0.4 0.4 39

 40 Debt securities 14.7 22.2 37.5 36.5 22.9 48.0 61.9 45.2 35.7 53.8 40

 41 Open market paper -0.3 0.8 1.4 1.2 1.1 1.8 -0.9 0.7 1.4 4.1 41

 42 Treasury securities 2.5 3.6 10.2 10.8 0.7 15.5 28.8 17.2 8.7 14.9 42

 43 Agency- and GSE-backed securities 0.4 1.4 4.2 3.2 -2.3 -1.0 -1.1 0.9 0.4 -0.1 43

 44 Municipal securities 7.2 6.2 7.2 8.4 11.4 12.0 16.2 14.2 16.0 15.3 44

 45 Corporate and foreign bonds 4.9 10.2 14.7 12.9 12.0 19.8 18.8 12.2 9.2 19.7 45

 46 Loans 54.1 46.2 50.8 52.8 63.8 44.9 78.1 117.5 145.6 121.6 46

 47 Depository institution loans n.e.c. 12.0 11.5 16.0 4.7 12.6 6.4 6.7 16.0 35.9 35.0 47

 48 Other loans and advances 4.5 5.1 6.0 8.1 11.0 3.4 7.4 10.5 9.8 15.6 48

 49 Mortgages 27.5 23.7 23.7 29.2 30.2 30.8 48.4 71.4 77.4 62.1 49

 50 Consumer credit 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 50

 51 Corporate equities -0.0 1.3 2.4 -0.2 3.4 5.7 11.4 10.9 7.9 4.1 51

 52 Trade payables 13.8 10.6 8.8 16.7 22.8 9.0 16.0 27.9 45.8 33.5 52

 53 Life insurance reserves 0.1 0.1 0.1 -0.0 0.1 0.1 0.1 0.2 0.2 0.1 53

 54 Taxes payable 2.1 -0.9 -4.2 1.1 -1.7 -2.6 4.1 3.9 5.3 8.9 54

 55 Equity in noncorporate business 3.8 3.5 0.9 3.2 0.1 -0.4 1.8 -4.9 9.4 -27.8 55

 56 Foreign direct investment in U.S. 0.5 0.4 0.7 0.8 1.2 1.4 0.3 0.9 2.7 4.8 56

 57 Miscellaneous liabilities 17.4 18.0 22.8 22.4 26.8 30.6 37.3 37.6 39.3 47.7 57

 58 Discrepancy -4.0 -10.5 -0.1 -10.4 -8.5 -11.7 -6.7 -25.6 -14.3 3.3 58

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

ws

Historical Annuals, 1965-1974, March 10, 2016 9

F.101 Households and Nonprofit Organizations (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Personal income 570.8 620.6 665.7 730.7 800.3 864.6 932.1 1023.6 1138.5 1249.4 1

 2 - Personal current taxes 57.7 66.4 73.0 87.0 104.5 103.1 101.7 123.6 132.4 151.0 2

 3 = Disposable personal income 513.2 554.2 592.8 643.7 695.8 761.5 830.4 899.9 1006.1 1098.3 3

 4 - Personal outlays 454.9 492.8 520.6 571.7 620.7 665.5 720.3 790.7 874.3 956.6 4

 5 = Personal saving, NIPA (2) 58.3 61.4 72.2 72.1 75.0 96.1 110.1 109.2 131.8 141.7 5

 6 + Government insurance and pension reserves (3) 0.3 0.3 0.3 -0.0 -0.1 0.1 -0.2 -0.0 -0.2 -0.3 6

 7 - Contr. for govt. soc. insur., U.S.-affiliated areas 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.4 0.5 0.6 7

 8 + Net investment in consumer durables 15.9 17.9 16.0 20.9 19.5 14.3 19.9 26.1 32.1 21.4 8

 9 + Consumption of fixed capital 56.4 60.5 65.2 72.1 79.5 85.7 93.4 101.1 112.1 126.3 9

 10 - Net capital transfers paid (4) 3.6 3.9 4.0 4.1 4.6 4.8 5.8 6.8 6.6 6.3 10

 11 = Gross saving less net capital transfers paid 127.2 136.0 149.6 160.8 169.1 191.1 216.9 229.2 268.6 282.3 11

 12 Gross investment 139.1 158.0 157.7 183.9 191.5 217.2 237.4 257.7 310.8 295.0 12

 13 Capital expenditures 92.8 97.0 99.5 114.2 121.6 120.3 142.6 166.0 186.4 181.2 13

 14 Consumer durable goods 61.7 66.9 68.8 79.4 83.8 83.6 95.1 107.1 121.0 120.9 14

 15 Residential 26.2 25.0 25.5 29.4 31.1 29.7 40.0 49.5 55.4 50.5 15

 16 Nonprofit nonresidential 5.9 6.2 6.2 6.4 7.4 7.8 8.6 10.7 11.3 11.2 16

 17 Nonproduced nonfinancial assets -1.0 -1.1 -1.1 -1.1 -0.8 -0.8 -1.2 -1.3 -1.3 -1.4 17

 18 Net lending (+) or net borrowing (-) 46.3 61.0 58.2 69.8 69.9 96.9 94.8 91.7 124.5 113.9 18

 19 Net acquisition of financial assets 75.7 83.9 93.2 94.8 99.0 115.9 140.2 153.1 189.9 169.9 19

 20 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Checkable deposits and currency 6.7 1.9 10.2 9.0 -1.8 7.6 13.5 13.7 12.1 5.2 21

 22 Time and savings deposits 27.5 18.6 35.2 30.2 8.6 42.2 67.5 73.3 60.6 55.4 22

 23 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 23

 24 Debt securities 3.3 18.0 3.2 5.9 37.3 0.2 -6.5 -4.1 24.9 38.9 24

 25 Open market paper 0.9 2.3 1.8 2.0 6.4 -2.0 -2.8 -4.4 4.8 5.9 25

 26 Treasury securities 1.2 4.3 -0.1 2.7 11.4 -10.1 -8.8 3.2 11.1 6.6 26

 27 Agency- and GSE-backed securities 0.9 4.7 0.4 -0.1 5.2 4.6 -1.3 -5.7 -0.6 6.4 27

 28 Municipal securities 1.7 4.6 -3.0 -1.6 10.8 -0.1 -1.2 1.7 6.6 7.1 28

 29 Corporate and foreign bonds -1.3 2.1 4.0 2.9 3.6 7.7 7.6 1.1 3.0 12.9 29

 30 Loans 1.0 1.9 4.4 5.0 -0.5 3.1 -3.4 0.0 0.8 3.2 30

 31 Other loans and advances (5) 0.5 0.2 2.2 2.7 -2.2 0.9 0.0 -1.0 0.9 -0.1 31

 32 Mortgages 0.5 1.7 2.1 2.3 1.7 2.2 -3.4 1.0 -0.0 3.4 32

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

 34 Corporate equities (6) -10.6 -9.8 -13.6 -19.7 -17.2 -4.4 -6.0 -10.4 -3.7 -1.2 34

 35 Mutual fund shares 2.1 2.2 0.9 2.2 2.7 1.1 0.3 -1.4 -2.2 -1.4 35

 36 Life insurance reserves 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 36

 37 Pension entitlements (7) 35.7 41.6 45.2 52.3 62.5 58.3 64.1 77.2 77.0 84.3 37

 38 Equity in noncorporate business 3.8 3.5 0.9 3.2 0.1 -0.4 1.8 -4.9 10.1 -27.0 38

 39 Miscellaneous assets 1.4 1.3 1.6 1.9 2.2 2.7 2.6 2.9 3.1 2.9 39

 40 Net increase in liabilities 29.4 22.9 35.0 25.0 29.1 18.9 45.4 61.4 65.4 56.0 40

 41 Debt securities (municipal securities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.9 41

 42 Loans 28.7 22.2 34.1 24.1 28.1 17.9 44.2 60.0 63.9 53.3 42

 43 Home mortgages (8) 17.1 13.0 13.4 17.1 17.7 11.3 24.1 34.1 39.5 37.3 43

 44 Consumer credit 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 44

 45 Depository institution loans n.e.c. (9) -0.4 0.7 8.0 -6.6 0.3 -0.1 0.1 0.6 3.3 4.8 45

 46 Other loans and advances 1.2 1.9 4.5 4.6 -0.5 1.3 3.9 5.1 -1.9 1.6 46

 47 Commercial mortgages 0.7 0.7 3.0 -1.6 0.7 0.9 0.6 0.8 0.6 0.6 47

 48 Trade payables 0.4 0.4 0.6 0.6 0.7 0.6 0.9 0.8 0.7 1.2 48

 49 Deferred and unpaid life insurance premiums 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.4 0.7 49

 50 Discrepancy -12.0 -22.0 -8.1 -23.2 -22.4 -26.1 -20.4 -28.5 -42.2 -12.8 50

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

 outstandings of nonprofit organizations.

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

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

(4) Table F.5, line 63.

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

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

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

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

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

ws

10 Historical Annuals, 1965-1974, March 10, 2016

F.102 Nonfinancial Business (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Income before taxes 138.7 149.0 147.0 159.2 159.4 147.7 163.9 189.5 231.4 244.0 1

 2 Gross saving less net capital transfers paid 82.9 90.5 93.6 97.9 100.3 100.3 116.3 132.9 147.8 151.5 2

 3 Gross investment 73.2 76.5 84.5 87.7 91.2 88.8 106.7 131.8 117.8 140.7 3

 4 Capital expenditures 93.3 108.5 107.0 116.5 129.2 126.7 141.3 161.0 193.5 206.1 4

 5 Fixed investment 84.8 95.8 97.2 106.9 120.4 124.7 133.0 151.5 174.8 186.9 5

 6 Residential 8.9 8.4 8.1 10.7 13.3 13.7 18.1 22.9 22.9 18.9 6

 7 Nonresidential 75.9 87.4 89.1 96.1 107.1 111.0 114.9 128.7 151.9 167.9 7

 8 Change in inventories 9.2 13.6 9.9 9.1 9.2 2.0 8.3 9.1 15.9 14.0 8

 9 Nonproduced nonfinancial assets -0.8 -1.0 -0.1 0.6 -0.3 0.0 0.1 0.3 2.8 5.2 9

 10 Net lending (+) or net borrowing (-) -20.1 -32.0 -22.5 -28.8 -38.0 -37.9 -34.6 -29.2 -75.6 -65.4 10

 11 Net acquisition of financial assets 28.0 15.4 19.1 32.9 36.2 23.3 51.4 78.4 87.2 55.3 11

 12 Foreign deposits -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 12

 13 Checkable deposits and currency 0.4 -0.7 2.7 2.9 5.7 1.1 -1.3 2.6 2.0 1.2 13

 14 Time and savings deposits 2.3 -0.4 1.1 -0.6 -5.4 3.1 5.8 4.0 6.3 5.4 14

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

 16 Security repurchase agreements 0.3 0.3 -0.2 0.5 2.2 -3.1 0.8 1.6 8.6 -5.8 16

 17 Debt securities -1.1 -1.2 -1.6 2.6 -1.3 1.5 5.6 2.1 -2.8 7.1 17

 18 Commercial paper -0.3 1.5 1.1 1.1 2.5 1.8 1.9 3.0 0.6 4.1 18

 19 Treasury securities -1.9 -1.5 -2.3 0.5 -3.1 0.8 3.0 -2.0 -4.3 1.4 19

 20 Agency- and GSE-backed securities 0.2 -0.2 -0.0 0.4 0.2 -0.5 -0.3 0.1 1.0 0.9 20

 21 Municipal securities 0.9 -1.0 -0.3 0.5 -1.0 -0.6 1.0 1.0 -0.1 0.6 21

 22 Loans 1.2 0.1 0.2 0.1 0.5 1.1 3.7 1.7 -0.4 1.3 22

 23 Mortgages 0.0 0.0 -0.0 -0.0 0.4 0.4 1.2 1.1 0.4 0.5 23

 24 Consumer credit 1.2 0.1 0.2 0.1 0.1 0.8 2.5 0.6 -0.8 0.8 24

 25 Mutual fund shares 0.1 0.1 0.1 0.2 0.1 -0.0 -0.1 -0.0 0.2 0.3 25

 26 Trade receivables 13.1 12.9 8.9 17.2 23.3 7.0 13.9 27.1 43.2 34.0 26

 27 U.S. direct investment abroad 4.8 5.2 4.5 5.0 5.6 7.1 7.0 7.0 10.5 7.9 27

 28 Miscellaneous assets 7.3 -1.1 3.4 4.7 6.1 5.9 15.5 31.4 18.5 4.1 28

 29 Net increase in liabilities 48.2 47.4 41.6 61.7 74.2 61.2 86.0 107.6 162.8 120.7 29

 30 Debt securities 4.5 11.0 16.1 14.1 13.1 21.5 18.0 13.5 12.4 25.4 30

 31 Commercial paper -0.3 0.8 1.4 1.2 1.1 1.8 -0.9 0.7 1.4 4.1 31

 32 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.5 1.8 1.6 32

 33 Corporate bonds 4.9 10.2 14.7 12.9 12.0 19.8 18.8 12.2 9.2 19.7 33

 34 Loans 25.0 23.5 16.6 28.4 35.0 27.1 33.5 57.2 81.5 67.7 34

 35 Depository institution loans n.e.c. 12.4 10.8 7.9 11.3 12.3 6.5 6.6 15.4 32.6 30.2 35

 36 Other loans and advances 2.9 2.5 1.3 3.3 10.8 2.0 3.1 5.1 11.4 13.2 36

 37 Mortgages 9.6 10.1 7.4 13.9 11.9 18.6 23.8 36.7 37.4 24.2 37

 38 Corporate equities -0.0 1.3 2.4 -0.2 3.4 5.7 11.4 10.9 7.9 4.1 38

 39 Trade payables 11.4 7.9 5.8 14.3 20.1 7.2 13.9 24.3 41.5 29.6 39

 40 Taxes payable 2.1 -0.9 -4.2 1.1 -1.7 -2.6 4.1 3.9 5.3 8.9 40

 41 Foreign direct investment in U.S. 0.5 0.4 0.7 0.8 1.2 1.4 0.3 0.9 2.7 4.8 41

 42 Miscellaneous liabilities 0.9 0.7 3.2 -0.0 2.9 1.3 2.9 1.9 2.4 7.9 42

 43 Proprietors’ net investment 3.8 3.5 0.9 3.2 0.1 -0.4 1.8 -4.9 9.4 -27.8 43

 44 Discrepancy 9.7 14.0 9.1 10.2 9.1 11.5 9.6 1.1 30.0 10.8 44

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

ws

Historical Annuals, 1965-1974, March 10, 2016 11

F.103 Nonfinancial Corporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Profits before tax (book) 69.1 75.1 71.6 79.4 76.4 63.7 73.5 86.9 110.1 123.3 1

 2 - Taxes on corporate income 27.1 29.5 27.8 33.5 33.3 27.3 30.0 33.8 40.4 42.8 2

 3 - Net dividends 16.2 16.8 17.3 19.0 19.0 18.3 18.1 19.7 20.8 21.5 3

 4 + Capital consumption allowance (1) 43.4 47.4 51.4 55.7 61.2 66.0 70.9 78.2 84.8 93.7 4

 5 = U.S. internal funds, book 69.2 76.3 78.0 82.5 85.3 84.1 96.3 111.6 133.8 152.6 5

 6 + Foreign earnings retained abroad 1.3 1.6 1.5 2.2 2.6 3.0 3.0 4.4 7.7 7.3 6

 7 + Inventory valuation adjustment (IVA) -1.2 -2.1 -1.6 -3.7 -5.9 -6.6 -4.6 -6.6 -19.6 -38.2 7

 8 - Net capital transfers paid (2) -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 -0.2 8

 9 = Total internal funds + IVA 69.3 75.9 78.0 81.2 82.1 80.7 94.9 109.6 122.1 121.9 9

 10 Gross investment 59.6 61.9 68.9 71.0 73.0 69.2 85.3 108.5 92.1 111.2 10

 11 Capital expenditures 67.6 83.0 81.5 87.6 96.9 94.7 101.2 115.9 141.2 161.5 11

 12 Fixed investment (3) 61.7 72.0 73.8 80.3 89.2 92.3 95.4 108.0 125.9 141.6 12

 13 Inventory change + IVA 6.7 12.0 7.8 6.7 8.0 2.4 5.8 7.6 12.5 14.6 13

 14 Nonproduced nonfinancial assets -0.8 -1.0 -0.1 0.6 -0.3 0.0 0.1 0.3 2.8 5.2 14

 15 Net lending (+) or net borrowing (-) -8.0 -21.1 -12.6 -16.6 -23.8 -25.5 -15.9 -7.4 -49.1 -50.4 15

 16 Net acquisition of financial assets 27.4 14.4 17.8 33.1 34.2 21.4 41.5 68.4 78.1 50.6 16

 17 Foreign deposits -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 17

 18 Checkable deposits and currency 0.3 -0.7 2.5 2.7 5.6 1.0 -1.5 2.4 1.4 1.2 18

 19 Time and savings deposits 2.3 -0.4 1.1 -0.6 -5.4 1.7 4.2 2.4 4.7 3.8 19

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

 21 Security repurchase agreements 0.3 0.3 -0.2 0.5 2.2 -3.1 0.8 1.6 8.6 -5.8 21

 22 Debt securities -1.1 -1.2 -1.7 2.4 -1.5 1.3 5.4 1.9 -2.9 7.0 22

 23 Commercial paper -0.3 1.5 1.1 1.1 2.5 1.8 1.9 3.0 0.6 4.1 23

 24 Treasury securities -1.9 -1.5 -2.4 0.3 -3.3 0.6 2.8 -2.2 -4.4 1.4 24

 25 Agency- and GSE-backed securities 0.2 -0.2 -0.0 0.4 0.2 -0.5 -0.3 0.1 1.0 0.9 25

 26 Municipal securities 0.9 -1.0 -0.3 0.5 -1.0 -0.6 1.0 1.0 -0.1 0.6 26

 27 Loans 0.9 0.2 0.3 0.1 0.4 0.6 2.7 0.7 -0.5 1.5 27

 28 Mortgages 0.0 0.0 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.1 0.4 28

 29 Consumer credit 0.9 0.2 0.3 0.1 0.2 0.6 2.7 0.7 -0.6 1.1 29

 30 Mutual fund shares 0.1 0.1 0.1 0.2 0.1 -0.0 -0.1 -0.0 0.2 0.3 30

 31 Trade receivables 13.3 12.4 8.3 18.5 22.8 8.4 12.4 26.4 40.9 31.8 31

 32 U.S. direct investment abroad (4) 4.8 5.2 4.5 5.0 5.6 7.1 7.0 7.0 10.5 7.9 32

 33 Miscellaneous assets 6.8 -1.7 2.7 3.8 5.0 4.8 10.1 25.1 14.1 3.0 33

 34 Insurance receivables 0.4 0.6 0.7 0.8 1.2 0.9 1.1 1.9 2.0 2.2 34

 35 Equity in GSEs 0.0 0.0 0.0 0.0 0.1 -0.2 0.0 0.0 0.0 0.0 35

 36 Investment in finance co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Other 6.4 -2.3 2.0 3.0 3.7 4.1 9.1 23.2 12.1 0.8 37

 38 Net increase in liabilities 35.4 35.4 30.4 49.7 58.1 47.0 57.4 75.9 127.3 101.0 38

 39 Debt securities 4.5 11.0 16.1 14.1 13.1 21.5 18.0 13.5 12.4 25.4 39

 40 Commercial paper -0.3 0.8 1.4 1.2 1.1 1.8 -0.9 0.7 1.4 4.1 40

 41 Municipal securities (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.5 1.8 1.6 41

 42 Corporate bonds (4) 4.9 10.2 14.7 12.9 12.0 19.8 18.8 12.2 9.2 19.7 42

 43 Loans 15.7 13.8 6.3 17.5 19.7 20.4 11.0 25.8 63.5 30.6 43

 44 Depository institution loans n.e.c. 10.9 8.6 6.6 9.8 9.6 6.0 4.5 12.7 25.0 21.9 44

 45 Other loans and advances (6) 2.2 1.6 0.2 2.5 9.3 0.5 1.9 3.9 7.7 9.7 45

 46 Mortgages 2.7 3.6 -0.4 5.2 0.9 13.9 4.6 9.2 30.9 -1.0 46

 47 Corporate equities -0.0 1.3 2.4 -0.2 3.4 5.7 11.4 10.9 7.9 4.1 47

 48 Trade payables 11.8 9.1 5.9 16.4 19.5 7.9 13.7 23.2 38.1 26.5 48

 49 Taxes payable 2.1 -0.9 -4.2 1.1 -1.7 -2.6 3.1 2.4 3.8 7.4 49

 50 Foreign direct investment in U.S. 0.5 0.4 0.7 0.8 1.2 1.4 0.3 0.9 2.5 4.6 50

 51 Miscellaneous liabilities 0.9 0.7 3.2 -0.0 2.9 -7.3 0.0 -0.8 -0.9 2.4 51

 52 Pension fund contributions payable 0.2 0.0 0.2 0.2 0.0 0.1 0.3 0.5 -0.0 -0.0 52

 53 Claims of pension fund on sponsor 1.1 3.3 4.7 6.6 11.7 9.5 6.9 -1.6 5.6 7.8 53

 54 Other -0.3 -2.6 -1.7 -6.8 -8.8 -16.9 -7.2 0.3 -6.5 -5.4 54

 55 Discrepancy 9.7 14.0 9.1 10.2 9.1 11.5 9.6 1.1 30.0 10.8 55

 Memo:

 56 Financing gap (7) -0.3 8.8 5.1 8.7 17.4 17.2 9.5 10.9 27.0 47.1 56

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

(2) Table F.5, line 58.

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

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

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

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

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
Flo

ws

12 Historical Annuals, 1965-1974, March 10, 2016

F.104 Nonfinancial Noncorporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving = consumption of fixed capital 13.5 14.5 15.5 16.7 18.2 19.6 21.4 23.3 25.7 29.6 1

 2 Gross saving less net capital transfers paid (1) 13.5 14.5 15.5 16.7 18.2 19.6 21.4 23.3 25.7 29.6 2

 3 Gross investment 13.5 14.5 15.5 16.7 18.2 19.6 21.4 23.3 25.7 29.6 3

 4 Capital expenditures 25.7 25.5 25.4 28.9 32.3 32.0 40.1 45.1 52.2 44.6 4

 5 Fixed investment (2) 23.1 23.8 23.3 26.6 31.1 32.4 37.6 43.5 48.8 45.2 5

 6 Change in inventories 2.5 1.6 2.1 2.4 1.2 -0.4 2.5 1.5 3.4 -0.7 6

 7 Net lending (+) or net borrowing (-) -12.1 -10.9 -9.9 -12.2 -14.1 -12.4 -18.7 -21.8 -26.5 -15.0 7

 8 Net acquisition of financial assets 0.6 1.1 1.3 -0.2 2.0 1.9 9.8 10.0 9.1 4.7 8

 9 Checkable deposits and currency 0.1 -0.0 0.1 0.2 0.1 0.1 0.1 0.3 0.6 0.1 9

 10 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 1.4 1.6 1.6 1.6 1.6 10

 11 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Debt securities 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.2 0.1 0.1 12

 13 Treasury securities 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.2 0.1 0.1 13

 14 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Loans 0.3 -0.1 -0.1 -0.0 0.2 0.5 1.1 1.0 0.1 -0.2 15

 16 Mortgages 0.0 0.0 0.0 0.0 0.3 0.4 1.2 1.1 0.3 0.1 16

 17 Consumer credit 0.3 -0.1 -0.1 -0.0 -0.1 0.1 -0.1 -0.1 -0.2 -0.4 17

 18 Trade receivables -0.2 0.6 0.5 -1.4 0.5 -1.5 1.5 0.6 2.3 2.2 18

 19 Miscellaneous assets 0.5 0.6 0.6 0.8 1.1 1.1 5.3 6.2 4.4 1.1 19

 20 Insurance receivables 0.4 0.5 0.6 0.7 1.0 1.1 1.3 1.5 1.4 1.5 20

 21 Equity investment in GSEs (3) 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 21

 22 Other 0.0 0.0 0.0 0.0 0.0 0.0 4.0 4.6 2.8 -0.7 22

 23 Net increase in liabilities 12.8 12.0 11.2 12.0 16.1 14.2 28.5 31.7 35.6 19.7 23

 24 Loans 9.3 9.7 10.3 11.0 15.3 6.7 22.6 31.4 17.9 37.1 24

 25 Depository institution loans n.e.c. 1.6 2.3 1.4 1.5 2.7 0.4 2.2 2.8 7.7 8.3 25

 26 Other loans and advances 0.8 0.9 1.2 0.8 1.6 1.5 1.2 1.2 3.7 3.6 26

 27 Mortgages 7.0 6.5 7.8 8.7 11.0 4.7 19.2 27.4 6.6 25.2 27

 28 Trade payables -0.3 -1.2 -0.1 -2.1 0.6 -0.7 0.2 1.1 3.4 3.1 28

 29 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.5 1.5 1.6 29

 30 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 30

 31 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 8.6 2.9 2.7 3.3 5.6 31

 32 Proprietors’ net investment 3.8 3.5 0.9 3.2 0.1 -0.4 1.8 -4.9 9.4 -27.8 32

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

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

(3) Equity in the Farm Credit System.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 13

F.105 General Government (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Current receipts, NIPA basis 186.2 211.5 227.9 263.0 296.2 304.0 324.3 375.9 422.0 464.9 1

 2 Personal current taxes 57.7 66.4 73.0 87.0 104.5 103.1 101.7 123.6 132.4 151.0 2

 3 Taxes on production and imports 60.7 63.2 67.9 76.4 83.9 91.4 100.5 107.9 117.2 124.9 3

 4 Taxes on corporate income 30.9 33.7 32.7 39.4 39.7 34.4 37.7 41.9 49.3 51.8 4

 5 Taxes from the rest of the world 0.2 0.2 0.2 0.3 0.4 0.4 0.4 0.4 0.4 0.4 5

 6 Contributions for govt. social insurance 23.5 31.4 35.0 38.8 44.3 46.6 51.5 59.6 76.0 85.8 6

 7 Income receipts on assets 4.2 4.9 5.6 6.6 7.2 8.4 9.1 9.7 11.8 14.7 7

 8 Current transfer receipts 8.4 11.4 13.3 14.3 16.3 21.1 25.1 34.0 37.1 39.0 8

 9 Current surplus of government enterprises 0.7 0.3 0.2 0.3 0.0 -1.2 -1.7 -1.2 -2.2 -2.7 9

 10 Current expenditures, NIPA basis 187.6 213.2 242.6 272.5 297.2 335.8 374.5 416.4 450.1 503.2 10

 11 Consumption expenditures 117.0 132.8 150.4 167.5 180.9 194.4 210.8 227.6 240.7 267.0 11

 12 Government social benefits 34.4 38.0 46.3 53.9 59.6 72.5 86.2 95.8 109.8 129.9 12

 13 Other current transfer payments 10.1 13.4 14.9 16.4 18.2 23.2 28.2 37.7 38.9 40.9 13

 14 Interest payments 23.1 25.2 27.2 30.6 34.0 41.0 44.6 48.7 55.5 62.2 14

 15 Subsidies 3.0 3.9 3.8 4.2 4.5 4.8 4.7 6.6 5.2 3.3 15

 16 Net saving, NIPA basis -1.4 -1.8 -14.8 -9.5 -1.0 -31.8 -50.2 -40.5 -28.0 -38.3 16

 17 + Consumption of fixed capital 26.4 28.1 30.2 32.7 35.4 38.5 41.2 43.4 46.6 53.0 17

 18 - Insurance and pension fund reserves (2) 0.3 0.3 0.3 -0.0 -0.1 0.1 -0.2 -0.0 -0.2 -0.3 18

 19 - Net capital transfers (3) -3.5 -3.8 -3.9 -4.0 -4.5 -4.6 -5.6 -6.6 -6.4 -6.0 19

 20 = Gross saving less net capital transfers 28.3 29.9 19.1 27.2 39.0 11.3 -3.1 9.6 25.1 21.0 20

 21 Gross investment 30.0 32.3 20.2 24.7 34.3 8.3 -7.3 7.8 27.2 15.7 21

 22 Fixed investment 47.9 53.6 57.7 59.2 59.5 59.8 58.5 60.7 65.6 76.2 22

 23 Nonproduced nonfinancial assets 1.8 2.0 1.2 0.5 1.1 0.8 1.2 0.9 -1.5 -3.8 23

 24 Net lending (+) or net borrowing (-) -19.6 -23.2 -38.6 -35.0 -26.3 -52.3 -67.0 -53.8 -37.0 -56.7 24

 25 Net acquisition of financial assets 9.4 8.7 5.3 11.9 10.0 5.8 13.8 17.5 26.9 13.7 25

 26 U.S. official reserve assets 0.3 -0.3 0.6 1.9 1.6 -1.8 -1.6 0.6 -0.1 1.4 26

 27 Checkable deposits and currency -2.2 0.1 1.3 -3.0 3.5 2.5 4.3 -0.4 -1.7 -4.3 27

 28 Time and savings deposits 2.4 1.2 2.3 3.3 -6.0 10.2 7.3 6.8 6.4 5.0 28

 29 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Security repurchase agreements 1.1 1.5 -0.5 -1.5 3.9 -4.0 0.6 -0.1 1.4 -1.8 30

 31 Debt securities 2.3 1.1 -0.1 3.8 3.2 -2.3 -2.8 5.3 8.0 4.1 31

 32 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Treasury securities 2.2 0.6 -0.4 0.2 3.1 -0.1 -0.4 2.3 1.2 0.5 33

 34 Agency- and GSE-backed securities 0.2 0.6 0.3 3.5 0.1 -2.4 -2.2 3.3 6.6 3.1 34

 35 Municipal securities -0.1 -0.0 0.0 0.0 0.1 0.1 -0.3 -0.3 0.2 0.5 35

 36 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Loans 3.1 4.1 4.7 5.3 4.9 3.8 3.9 3.2 5.6 8.8 37

 38 Mortgages 0.2 1.2 1.0 1.6 1.4 1.2 0.7 0.7 1.1 5.2 38

 39 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Other loans and advances 2.9 2.9 3.6 3.7 3.5 2.6 3.2 2.5 4.4 3.7 40

 41 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Trade receivables 1.2 1.9 2.0 1.5 2.2 -0.2 -0.8 0.6 3.1 -1.0 43

 44 Taxes receivable 1.3 -1.4 -5.0 1.0 -3.2 -2.6 2.7 1.4 3.1 1.7 44

 45 Miscellaneous assets 0.0 0.4 -0.0 -0.3 -0.0 0.2 0.2 0.0 0.9 -0.1 45

 46 Net increase in liabilities 29.0 31.9 43.9 46.9 36.4 58.1 80.7 71.3 63.8 70.4 46

 47 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 0.7 0.7 0.0 0.0 47

 48 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 48

 49 Treasury currency 0.2 0.9 0.7 0.4 0.3 0.2 0.5 0.5 0.4 0.4 49

 50 Debt securities 10.2 11.1 21.5 22.4 9.8 26.5 43.9 31.7 22.9 27.5 50

 51 Treasury securities 2.5 3.6 10.2 10.8 0.7 15.5 28.8 17.2 8.7 14.9 51

 52 Municipal securities 7.2 6.2 7.2 8.4 11.4 12.0 16.1 13.6 13.8 12.8 52

 53 Loans 0.3 0.6 0.1 0.2 0.7 0.0 0.3 0.3 0.2 0.6 53

 54 Multifamily residential mortgages 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 54

 55 Other loans and advances 0.3 0.6 0.2 0.3 0.7 0.1 0.4 0.3 0.3 0.7 55

 56 Trade payables 2.0 2.3 2.3 1.9 1.9 1.1 1.3 2.7 3.6 2.8 56

 57 Insurance reserves 0.1 0.1 0.1 -0.0 0.1 0.1 0.1 0.2 0.2 0.1 57

 58 Miscellaneous liabilities 16.2 16.9 19.2 22.1 23.6 28.9 34.0 35.2 36.5 39.0 58

 59 Discrepancy -1.7 -2.5 -1.1 2.5 4.8 3.0 4.1 1.8 -2.1 5.4 59

 Memo:

 60 Net acquisition of financial assets (consolidated) (4) 6.9 7.5 5.5 11.4 6.2 5.8 13.8 14.8 25.4 12.6 60

 61 Net increase in liabilities (consolidated) (4) 26.5 30.7 44.1 46.4 32.5 58.1 80.7 68.6 62.4 69.3 61

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

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

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

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

(4) Excludes Treasury securities held by state and local governments (line 33) and federal government loans to state and local governments (line 55).
Flo

ws

14 Historical Annuals, 1965-1974, March 10, 2016

F.106 Federal Government

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Current receipts, NIPA basis 120.4 137.4 146.3 170.6 191.8 185.1 190.7 219.0 249.2 278.5 1

 2 Personal current taxes 51.1 58.6 64.4 76.4 91.7 88.9 85.8 102.8 109.6 126.5 2

 3 Taxes on production and imports 15.4 14.4 15.2 16.9 17.8 18.1 19.0 18.5 19.8 20.1 3

 4 Taxes on corporate income 28.9 31.4 30.0 36.1 36.1 30.6 33.5 36.6 43.3 45.1 4

 5 Taxes from the rest of the world 0.2 0.2 0.2 0.3 0.4 0.4 0.4 0.4 0.4 0.4 5

 6 Contributions for govt. social insurance 22.7 30.6 34.1 37.9 43.3 45.5 50.3 58.3 74.5 84.1 6

 7 Income receipts on assets 2.0 2.2 2.6 3.1 2.8 3.2 3.6 3.8 4.0 4.5 7

 8 Current transfer receipts 0.9 1.0 1.0 1.0 1.0 1.0 0.9 1.1 1.0 1.1 8

 9 Current surplus of government enterprises -0.9 -1.2 -1.3 -1.0 -1.3 -2.5 -2.8 -2.4 -3.4 -3.3 9

 10 Current expenditures, NIPA basis 125.9 144.3 165.7 184.3 196.9 219.9 241.5 267.9 286.9 319.1 10

 11 Consumption expenditures 66.5 76.5 88.0 96.8 100.4 102.3 106.6 112.2 113.9 122.5 11

 12 Government social benefits 27.7 30.3 37.1 42.4 46.3 56.4 66.9 73.8 85.7 104.6 12

 13 Other current transfer payments 10.1 13.4 14.9 16.4 18.2 23.2 28.2 37.7 38.9 40.9 13

 14 Interest payments 18.6 20.3 21.9 24.6 27.5 33.3 35.2 37.6 43.3 48.0 14

 15 Subsidies 3.0 3.9 3.8 4.1 4.5 4.8 4.6 6.6 5.1 3.2 15

 16 Net saving, NIPA basis -5.5 -7.0 -19.5 -13.7 -5.1 -34.8 -50.8 -48.9 -37.7 -40.6 16

 17 + Consumption of fixed capital 20.0 21.0 22.4 24.1 25.8 27.6 29.0 30.1 31.7 34.7 17

 18 - Insurance and pension reserves (1) 0.3 0.3 0.3 -0.0 -0.1 0.1 -0.2 -0.0 -0.2 -0.3 18

 19 - Net capital transfers paid (2) 1.2 1.3 1.2 2.9 2.3 1.6 1.4 0.7 0.9 3.1 19

 20 = Gross saving less net capital transfers paid 13.0 12.5 1.5 7.5 18.4 -8.8 -23.0 -19.5 -6.7 -8.8 20

 21 Gross investment 13.4 14.6 2.2 4.4 17.6 -6.7 -22.5 -17.8 -6.2 -9.7 21

 22 Fixed investment 26.7 30.1 31.9 31.1 30.7 30.5 27.8 29.3 31.7 35.7 22

 23 Nonproduced nonfinancial assets 0.5 0.6 -0.2 -0.9 0.1 -0.3 -0.4 -0.7 -3.2 -5.7 23

 24 Net lending (+) or net borrowing (-) -13.8 -16.1 -29.5 -25.8 -13.2 -36.9 -49.8 -46.4 -34.7 -39.7 24

 25 Net acquisition of financial assets 3.2 4.7 1.9 6.2 3.9 1.6 4.6 0.4 4.6 4.2 25

 26 U.S. official reserve assets 0.3 -0.3 0.6 1.9 1.6 -1.8 -1.6 0.6 -0.1 1.4 26

 27 Checkable deposits and currency -1.6 -0.4 0.5 -2.3 1.6 3.5 3.5 -1.0 -1.8 -4.6 27

 28 Time and savings deposits -0.0 -0.0 0.0 0.1 -0.2 0.3 0.1 0.1 -0.2 0.0 28

 29 Debt securities 0.0 1.3 -0.1 0.1 -1.3 -0.1 0.0 -0.0 -0.0 -0.0 29

 30 Agency- and GSE-backed securities 0.0 1.3 -0.1 0.1 -1.3 -0.1 0.0 -0.0 -0.0 -0.0 30

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

 32 Loans 2.9 3.9 4.6 5.1 4.4 2.9 2.8 1.8 3.9 6.4 32

 33 Other loans and advances 2.9 2.9 3.6 3.7 3.5 2.6 3.2 2.5 4.4 3.7 33

 34 Mortgages -0.0 1.0 0.9 1.4 1.0 0.3 -0.4 -0.7 -0.6 2.7 34

 35 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

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

 37 Trade receivables 0.4 1.2 1.5 0.6 0.9 -0.8 -1.7 -0.8 0.3 1.0 37

 38 Taxes receivable 1.2 -1.4 -5.1 0.8 -3.2 -2.7 1.4 -0.4 1.5 -0.0 38

 39 Miscellaneous assets 0.0 0.3 -0.0 -0.2 0.1 0.2 0.1 0.1 1.0 -0.0 39

 40 Net increase in liabilities 17.0 20.8 31.4 32.0 17.1 38.5 54.5 46.8 39.3 43.9 40

 41 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 0.7 0.7 0.0 0.0 41

 42 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 42

 43 Treasury currency 0.2 0.9 0.7 0.4 0.3 0.2 0.5 0.5 0.4 0.4 43

 44 Debt securities 2.9 4.9 14.3 13.9 -1.6 14.5 27.8 18.1 9.2 14.7 44

 45 Treasury securities (5) 2.5 3.6 10.2 10.8 0.7 15.5 28.8 17.2 8.7 14.9 45

 46 Marketable 0.3 1.1 8.8 8.8 -1.0 12.9 23.7 11.0 3.9 11.0 46

 47 Nonmarketable 2.2 2.4 1.4 2.0 1.7 2.5 5.1 6.2 4.8 3.9 47

 48 Budget agency securities 0.4 1.4 4.2 3.2 -2.3 -1.0 -1.1 0.9 0.4 -0.1 48

 49 Loans (multifamily residential mortgages) 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 49

 50 Trade payables 0.6 0.8 0.7 -0.0 -0.1 -1.0 -1.1 0.2 0.8 -0.6 50

 51 Insurance reserves 0.1 0.1 0.1 -0.0 0.1 0.1 0.1 0.2 0.2 0.1 51

 52 Miscellaneous liabilities 13.2 14.2 15.8 17.7 18.5 23.5 26.6 27.2 28.8 29.2 52

 53 Claims of pension fund on sponsor 13.2 14.5 15.7 17.0 18.9 22.9 25.8 27.2 29.2 29.2 53

 54 Other -0.1 -0.4 0.1 0.7 -0.4 0.5 0.8 0.0 -0.4 -0.0 54

 55 Discrepancy -0.4 -2.1 -0.7 3.1 0.8 -2.1 -0.5 -1.7 -0.5 0.9 55

 Memo:

 56 Change in cash balance (6) -1.2 -0.4 1.2 -1.2 0.5 2.8 3.2 -0.3 -1.7 -4.6 56

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

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

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

 the government purchased from depository institutions and finance companies.

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

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

(6) Time and savings deposits (line 28) plus checkable deposits and currency at the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 15

F.107 State and Local Governments (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Current receipts, NIPA basis 65.8 74.1 81.6 92.5 104.3 118.9 133.6 156.9 172.8 186.4 1

 2 Personal current taxes 6.6 7.8 8.6 10.6 12.8 14.2 15.9 20.9 22.8 24.5 2

 3 Taxes on production and imports 45.3 48.8 52.8 59.5 66.0 73.3 81.5 89.4 97.4 104.8 3

 4 Taxes on corporate income 2.0 2.2 2.6 3.3 3.6 3.7 4.3 5.3 6.0 6.7 4

 5 Contributions for govt. social insurance 0.8 0.8 0.9 0.9 1.0 1.1 1.2 1.3 1.5 1.7 5

 6 Income receipts on assets 2.2 2.6 3.0 3.5 4.3 5.2 5.5 5.9 7.8 10.2 6

 7 Current transfer receipts 7.4 10.4 12.3 13.3 15.3 20.1 24.1 32.8 36.1 37.9 7

 8 Current surplus of government enterprises 1.6 1.5 1.4 1.3 1.3 1.3 1.1 1.2 1.2 0.6 8

 9 Current expenditures, NIPA basis 61.7 68.9 76.9 88.2 100.2 115.9 133.0 148.5 163.1 184.1 9

 10 Consumption expenditures 50.6 56.4 62.4 70.7 80.4 92.1 104.2 115.4 126.8 144.5 10

 11 Govt. social benefit payments to persons 6.7 7.6 9.2 11.4 13.2 16.1 19.3 22.0 24.1 25.3 11

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

 13 Interest payments 4.5 4.9 5.2 6.0 6.6 7.7 9.4 11.1 12.2 14.2 13

 14 Subsidies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 14

 15 Net saving, NIPA basis 4.1 5.2 4.7 4.3 4.1 3.0 0.6 8.4 9.6 2.3 15

 16 + Consumption of fixed capital 6.4 7.1 7.8 8.6 9.7 10.9 12.2 13.3 14.9 18.3 16

 17 - Net capital transfers paid (2) -4.7 -5.1 -5.1 -6.8 -6.8 -6.2 -7.0 -7.3 -7.3 -9.2 17

 18 = Gross saving less net capital transfers paid 15.3 17.4 17.6 19.7 20.6 20.1 19.8 29.0 31.8 29.8 18

 19 Gross investment 16.6 17.8 18.0 20.3 16.7 15.0 15.2 25.6 33.4 25.4 19

 20 Fixed investment 21.2 23.5 25.7 28.1 28.8 29.3 30.7 31.3 34.0 40.5 20

 21 Nonproduced nonfinancial assets 1.3 1.4 1.4 1.4 1.0 1.1 1.6 1.7 1.7 1.9 21

 22 Net lending (+) or net borrowing (-) -5.8 -7.1 -9.1 -9.2 -13.1 -15.4 -17.1 -7.4 -2.3 -17.0 22

 23 Net acquisition of financial assets 6.2 4.0 3.4 5.8 6.1 4.2 9.2 17.0 22.2 9.5 23

 24 Checkable deposits and currency -0.6 0.5 0.8 -0.7 1.9 -1.0 0.8 0.5 0.0 0.2 24

 25 Time and savings deposits 2.4 1.3 2.3 3.1 -5.8 10.0 7.2 6.7 6.6 5.0 25

 26 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Security repurchase agreements 1.1 1.5 -0.5 -1.5 3.9 -4.0 0.6 -0.1 1.4 -1.8 27

 28 Debt securities 2.3 -0.2 0.0 3.6 4.5 -2.3 -2.8 5.3 8.0 4.1 28

 29 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Treasury securities 2.2 0.6 -0.4 0.2 3.1 -0.1 -0.4 2.3 1.2 0.5 30

 31 Agency- and GSE-backed securities 0.2 -0.7 0.4 3.4 1.4 -2.3 -2.2 3.3 6.6 3.1 31

 32 Municipal securities -0.1 -0.0 0.0 0.0 0.1 0.1 -0.3 -0.3 0.2 0.5 32

 33 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Loans (mortgages) 0.2 0.2 0.1 0.2 0.5 0.9 1.1 1.4 1.7 2.5 34

 35 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Trade receivables 0.8 0.6 0.6 0.9 1.2 0.6 0.9 1.5 2.8 -2.0 37

 38 Taxes receivable 0.1 0.0 0.1 0.2 0.0 0.1 1.2 1.8 1.6 1.7 38

 39 Miscellaneous assets -0.0 0.1 0.0 -0.1 -0.1 -0.0 0.1 -0.1 -0.0 -0.1 39

 40 Net increase in liabilities 12.0 11.1 12.5 15.0 19.2 19.6 26.3 24.5 24.6 26.6 40

 41 Debt securities (municipal securities) 7.2 6.2 7.2 8.4 11.4 12.0 16.1 13.6 13.8 12.8 41

 42 Short-term (3) 0.6 0.7 1.8 0.1 2.8 2.3 2.5 0.1 0.3 2.7 42

 43 Long-term 6.6 5.6 5.3 8.3 8.6 9.6 13.6 13.6 13.5 10.0 43

 44 Loans (U.S. government loans) 0.3 0.6 0.2 0.3 0.7 0.1 0.4 0.3 0.3 0.7 44

 45 Trade payables 1.4 1.5 1.7 1.9 2.0 2.2 2.4 2.5 2.8 3.3 45

 46 Claims of pension fund on sponsor (4) 3.1 2.7 3.5 4.4 5.1 5.4 7.5 8.0 7.7 9.8 46

 47 Discrepancy -1.3 -0.3 -0.4 -0.6 3.9 5.1 4.6 3.4 -1.6 4.5 47

(1) Data for state and local government employee retirement funds are shown on table F.120.

(2) Table F.5, line 62.

(3) Debt with original maturity of 13 months or less.

(4) Included in miscellaneous liabilities.
Flo

ws

16 Historical Annuals, 1965-1974, March 10, 2016

F.108 Domestic Financial Sectors (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving less net capital transfers paid 6.2 6.9 7.0 7.9 8.3 8.9 10.8 12.6 14.2 14.8 1

 2 Gross investment 6.2 6.9 15.9 2.0 3.8 4.9 9.6 7.8 18.5 10.9 2

 3 Capital expenditures 3.5 3.6 4.0 5.1 5.6 5.8 6.9 7.3 9.6 11.9 3

 4 Fixed residential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 4

 5 Fixed nonresidential investment 3.5 3.6 4.0 5.1 5.5 5.8 6.9 7.2 9.5 11.9 5

 6 Net lending (+) or net borrowing (-) 2.8 3.2 11.9 -3.2 -1.8 -1.0 2.7 0.5 8.9 -1.1 6

 7 Net acqisition of financial assets 101.0 96.4 129.9 138.4 138.2 163.2 213.0 268.0 289.7 241.1 7

 8 U.S. official reserve assets -1.5 -0.3 -0.7 -1.0 -0.4 -0.7 -0.8 -0.5 -0.1 0.1 8

 9 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 9

 10 Treasury currency 0.2 0.7 0.5 0.2 0.1 0.3 0.5 0.7 0.4 0.5 10

 11 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Net interbank assets 0.3 2.3 1.7 3.1 0.3 2.8 3.9 0.6 1.9 -2.3 12

 13 Checkable deposits and currency 0.2 0.1 0.3 0.9 -0.1 0.2 0.7 1.1 0.6 0.7 13

 14 Time and savings deposits 0.5 0.5 0.8 0.8 0.7 1.0 1.0 1.3 2.2 4.4 14

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

 16 Federal funds and security repos 0.8 1.2 1.1 2.8 4.4 7.1 5.4 6.5 8.9 13.9 16

 17 Debt securities 14.6 16.0 38.3 30.0 6.3 50.4 50.1 49.3 37.4 42.9 17

 18 Open market paper -0.0 0.6 1.2 0.4 2.6 1.8 1.0 3.1 2.6 7.3 18

 19 Treasury securities 1.3 2.1 10.9 8.0 -8.3 15.3 8.5 5.5 0.9 2.5 19

 20 Agency- and GSE-backed securities 0.9 1.4 3.2 2.8 1.6 6.8 8.6 11.5 13.2 11.0 20

 21 Municipal securities 4.7 2.6 10.4 9.5 1.5 12.6 16.6 11.8 9.3 7.0 21

 22 Corporate and foreign bonds 7.8 9.2 12.5 9.3 8.9 13.9 15.4 17.4 11.3 15.1 22

 23 Loans 55.4 42.3 44.3 50.5 63.4 43.5 78.1 126.8 155.8 125.8 23

 24 Depository institution loans n.e.c. 15.8 11.4 16.2 6.7 12.9 8.5 11.4 30.4 41.2 38.8 24

 25 Other loans and advances 3.9 4.3 2.7 7.6 13.7 4.2 3.6 8.4 15.1 25.7 25

 26 Mortgages 26.8 20.8 20.5 25.5 26.9 27.1 50.0 69.1 76.3 53.1 26

 27 Consumer credit 8.9 5.8 5.0 10.7 9.8 3.7 13.0 18.9 23.3 8.2 27

 28 Corporate equities 10.5 11.8 14.6 19.0 21.2 9.2 19.9 21.1 14.1 6.7 28

 29 Mutual fund shares 0.0 0.1 0.0 0.1 0.6 0.5 -0.2 -0.1 0.9 1.1 29

 30 Trade receivables 0.2 0.2 0.3 0.3 0.4 0.5 0.3 1.2 0.6 0.5 30

 31 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 U.S. direct investment abroad 0.2 0.2 0.3 0.3 0.4 0.5 0.6 0.7 0.9 1.1 32

 33 Miscellaneous assets 19.6 21.2 28.4 31.5 41.0 47.6 53.6 59.2 66.2 45.6 33

 34 Net increase in liabilities 98.2 93.1 118.0 141.6 140.0 164.2 210.3 267.5 280.8 242.2 34

 35 Net interbank liabilities 0.6 6.7 2.3 6.4 13.1 -3.8 -2.8 -6.1 -0.2 -0.7 35

 36 Checkable deposits and currency 7.3 4.5 15.3 15.1 8.1 12.8 18.0 24.4 16.6 7.0 36

 37 Time and savings deposits 33.2 20.3 40.6 33.3 -0.7 54.9 81.8 88.4 78.4 77.9 37

 38 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 38

 39 Federal funds and security repos 0.5 0.4 2.1 2.5 7.3 1.9 8.0 10.2 16.0 13.8 39

 40 Debt securities 4.6 10.8 3.8 7.3 22.1 12.6 11.4 16.7 32.3 41.5 40

 41 Open market paper 1.2 3.7 2.7 3.0 11.4 0.3 0.8 0.9 7.0 13.4 41

 42 Agency- and GSE-backed securities 2.2 5.5 0.1 3.8 9.7 9.8 5.9 8.4 19.9 21.1 42

 43 Corporate and foreign bonds 1.2 1.6 1.0 0.6 1.0 2.5 4.7 7.4 5.4 6.9 43

 44 Loans 4.6 0.9 0.2 6.4 2.3 4.7 0.2 10.9 10.9 6.4 44

 45 Depository institution loans n.e.c. 3.2 -0.0 0.6 2.4 0.6 2.3 2.7 11.4 2.6 -0.9 45

 46 Other loans and advances 1.4 1.0 -0.4 3.8 1.5 2.2 -2.6 -0.9 8.0 7.2 46

 47 Mortgages 0.0 0.0 0.0 0.2 0.2 0.1 0.1 0.5 0.3 0.1 47

 48 Corporate equities -0.7 0.4 -0.8 1.1 1.6 -0.3 3.1 2.7 5.6 2.2 48

 49 Mutual fund shares 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 49

 50 Trade payables 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 50

 51 Life insurance reserves 4.7 4.6 5.1 4.8 5.0 5.2 6.3 6.7 7.2 7.0 51

 52 Pension entitlements 35.7 41.6 45.2 52.3 62.5 58.3 64.1 77.2 77.0 84.3 52

 53 Taxes payable 0.0 -0.0 -0.2 0.2 0.2 0.6 -0.0 0.0 0.2 0.1 53

 54 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.8 54

 55 Foreign direct investment in U.S. -0.1 0.1 0.0 0.0 0.1 0.0 0.1 0.1 0.1 -0.0 55

 56 Miscellaneous liabilities 5.8 0.4 3.1 9.5 15.0 15.7 19.9 37.7 37.2 -0.5 56

 57 Discrepancy -0.0 0.1 -8.9 5.9 4.5 4.0 1.2 4.8 -4.3 3.9 57

(1) Sum of financial sectors shown on tables F.109 through F.131.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 17

F.109 Monetary Authority (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 2

 3 Net acquisition of financial assets 2.3 4.5 4.8 4.0 4.0 5.4 8.5 2.2 8.1 6.5 3

 4 U.S. official reserve assets -1.5 -0.3 -0.7 -1.0 -0.4 -0.7 -0.8 -0.5 -0.1 0.1 4

 5 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 5

 6 Treasury currency 0.2 0.7 0.5 0.2 0.1 0.3 0.5 0.7 0.4 0.5 6

 7 Federal Reserve float (2) -0.4 0.3 -0.0 1.0 -0.0 0.8 0.1 -0.4 -0.9 -1.1 7

 8 Interbank loans (2) -0.1 0.1 -0.0 0.0 -0.0 0.2 -0.3 1.9 -0.7 -1.0 8

 9 Discount window (3) -0.1 0.1 -0.0 0.0 -0.0 0.2 -0.3 1.9 -0.7 -1.0 9

 10 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Security repurchase agreements -0.2 0.4 -0.5 -0.3 0.0 0.0 1.5 -1.4 -0.0 1.3 11

 12 Debt securities 4.0 3.2 5.3 3.9 4.2 5.0 7.4 1.6 9.3 4.9 12

 13 Open market paper 0.0 -0.0 0.0 -0.0 0.0 -0.0 0.0 -0.0 -0.0 0.5 13

 14 Treasury securities 4.0 3.2 5.3 4.0 4.2 5.0 6.9 0.8 8.7 1.6 14

 15 Treasury bills 3.1 7.1 -0.2 2.8 3.5 3.7 4.2 -0.5 7.2 -0.1 15

 16 Other Treasury securities 0.9 -3.9 5.5 1.2 0.7 1.3 2.7 1.3 1.4 1.7 16

 17 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.8 0.6 2.8 17

 18 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Other agency- and GSE-baked securities 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.8 0.6 2.8 19

 20 Loans (depository institution loans n.e.c.) 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Brokers and dealers (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Funding corporations (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Rest of the world 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Corporate equities (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous assets 0.3 0.2 0.2 0.1 0.2 -0.5 0.1 0.2 0.2 1.8 26

 27 Nonofficial foreign currencies (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Other 0.3 0.2 0.2 0.1 0.2 -0.5 0.1 0.2 0.2 1.8 28

 29 Net increase in liabilities 2.3 4.4 4.8 3.9 4.0 5.4 8.4 2.1 8.1 6.5 29

 30 Depository institution reserves 0.4 1.3 1.3 0.8 0.2 2.1 3.6 -2.1 1.4 -1.2 30

 31 Vault cash of depository institutions 0.3 0.6 0.5 1.3 0.1 -0.3 0.5 1.1 2.0 1.0 31

 32 Checkable deposits and currency 1.9 2.4 2.9 1.5 3.3 3.1 4.5 3.1 3.4 6.9 32

 33 Due to federal government -0.2 0.2 0.9 -1.1 0.6 -0.4 0.9 -1.1 -0.5 0.4 33

 34 Treasury cash holdings 0.1 0.4 0.2 -0.6 -0.0 -0.2 0.0 -0.1 -0.0 -0.1 34

 35 Treasury general deposit account -0.3 -0.3 0.7 -0.4 0.6 -0.2 0.9 -1.0 -0.5 0.6 35

 36 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Due to government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Due to rest of the world -0.1 0.2 -0.0 0.1 -0.1 -0.0 0.1 -0.1 -0.1 0.2 38

 39 Currency outside banks 2.1 2.0 2.0 2.5 2.8 3.5 3.5 4.3 3.9 6.3 39

 40 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Reverse repurchase agreement operations (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

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

 43 Miscellaneous liabilities -0.3 0.1 0.1 0.4 0.3 0.5 -0.2 0.0 1.3 -0.2 43

 44 Federal Reserve Bank stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 44

 45 Other -0.3 0.1 0.1 0.3 0.3 0.5 -0.2 -0.0 1.2 -0.2 45

 46 Discrepancy -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.2 -0.0 0.0 -0.0 46

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table F.203.

(3) Federal Reserve loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF.

(7) Includes loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, AIG, Maiden Lane III LLC, and the Commercial Paper Funding Facility LLC.

(8) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(9) Reciprocal currency arrangements (swap lines) with foreign central banks.

(10) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).
Flo

ws

18 Historical Annuals, 1965-1974, March 10, 2016

F.110 Private Depository Institutions (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving less net capital transfers paid (2) 4.1 3.7 3.4 4.5 5.5 5.5 5.5 6.3 7.8 8.5 1

 2 Fixed nonresidential investment 1.1 1.2 1.2 1.5 1.8 1.7 2.3 2.2 3.2 4.3 2

 3 Net lending (+) or net borrowing (-) 1.5 1.5 10.4 -5.3 -1.4 -3.5 -0.4 -3.0 6.4 -1.4 3

 4 Net acquisition of financial assets 45.0 30.3 65.2 54.2 31.8 63.5 102.8 132.3 130.9 101.4 4

 5 Vault cash 0.3 0.6 0.5 1.3 0.1 -0.3 0.5 1.1 2.0 1.0 5

 6 Reserves at Federal Reserve 0.4 1.3 1.3 0.8 0.2 2.1 3.6 -2.1 1.4 -1.2 6

 7 Federal funds and security repos 0.7 0.4 1.5 2.7 3.5 6.4 4.5 6.8 5.8 13.3 7

 8 Debt securities 1.8 -0.4 24.1 14.2 -8.8 27.9 29.9 21.6 2.2 8.1 8

 9 Open market paper -0.5 -0.0 1.0 0.0 0.6 1.4 0.5 0.0 -0.5 1.4 9

 10 Treasury securities -3.2 -3.6 7.7 2.2 -11.5 5.7 2.8 1.9 -10.3 -5.1 10

 11 Agency- and GSE-backed securities 0.7 0.5 3.3 1.8 1.0 6.4 8.0 8.1 10.0 5.2 11

 12 Municipal securities 5.1 2.3 9.1 8.6 0.7 10.7 12.8 7.6 5.8 5.7 12

 13 Corporate and foreign bonds -0.2 0.3 3.0 1.6 0.5 3.8 5.8 4.0 -2.7 0.9 13

 14 Loans 41.2 28.2 35.4 33.7 38.4 27.4 58.8 98.0 114.8 88.7 14

 15 Depository institution loans n.e.c. 15.7 11.4 16.2 6.7 12.9 8.5 11.4 30.4 41.2 38.8 15

 16 Other loans and advances 0.0 0.2 0.7 0.1 1.0 1.6 0.8 -1.0 2.0 9.6 16

 17 Mortgages 18.8 12.5 14.0 18.5 17.5 13.8 35.9 53.2 53.0 34.1 17

 18 Consumer credit 6.7 4.1 4.5 8.4 7.0 3.5 10.7 15.3 18.7 6.2 18

 19 Corporate equities 0.2 0.1 0.2 0.3 0.2 0.4 0.5 0.6 0.4 0.2 19

 20 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S. direct investment abroad 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.4 22

 23 Miscellaneous assets 0.4 0.2 2.2 1.2 -2.1 -0.5 4.8 6.0 3.9 -9.1 23

 24 Net increase in liabilities 43.5 28.9 54.8 59.5 33.1 67.0 103.2 135.3 124.5 102.8 24

 25 Net interbank liabilities -0.2 4.7 0.5 4.4 12.8 -5.6 -6.9 -5.1 -3.7 -0.5 25

 26 Checkable deposits 5.4 2.1 12.4 13.6 4.8 9.7 13.6 21.3 13.3 0.0 26

 27 Small time and savings deposits 27.3 18.0 34.7 26.6 14.4 30.6 68.4 70.7 39.4 36.9 27

 28 Large time deposits 5.9 2.3 5.9 6.7 -15.1 24.2 13.5 17.7 39.1 41.0 28

 29 Federal funds and security repos 0.5 0.4 2.1 2.5 7.3 1.9 8.0 10.2 16.0 13.8 29

 30 Debt securities 0.8 0.3 1.0 0.4 0.9 1.7 1.7 0.1 2.0 9.8 30

 31 Open market paper 0.0 0.2 0.7 0.1 1.0 1.6 0.8 -1.0 2.0 9.7 31

 32 Corporate bonds 0.8 0.1 0.3 0.3 -0.2 0.1 0.9 1.1 0.0 0.2 32

 33 Loans (other loans and advances) 0.7 0.9 -2.5 0.9 4.0 1.3 -2.7 0.0 7.2 6.7 33

 34 Corporate equity issues -0.1 -0.0 -0.0 -0.1 -0.0 0.1 0.6 1.2 1.2 1.0 34

 35 Taxes payable (net) -0.1 -0.1 -0.1 -0.0 0.1 0.4 0.0 -0.2 0.1 0.2 35

 36 Foreign direct investment in U.S. -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 36

 37 Miscellaneous liabilities 3.3 0.1 0.8 4.5 4.0 2.6 7.0 19.4 9.9 -6.5 37

 38 Investment by holding companies 0.0 0.0 0.0 0.0 4.0 6.0 5.0 6.0 1.5 6.0 38

 39 Investment by funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Other 3.3 0.1 0.8 4.5 -0.0 -3.4 2.0 13.4 8.4 -12.5 40

 41 Discrepancy 1.5 1.0 -8.2 8.3 5.0 7.2 3.6 7.2 -1.8 5.6 41

 Memo:

 42 Consumer leases not included above (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

(1) U.S.-chartered depository institutions (F.111), foreign banking offices (F.112), banks in U.S.-affiliated areas (F.113), and credit unions (F.114).

(2) Net capital transfers paid from table F.5, line 54.

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 19

F.111 U.S.-Chartered Depository Institutions

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving less net capital transfers paid (1) 3.9 3.5 3.2 4.3 5.3 5.2 5.3 6.0 7.4 8.1 1

 2 Fixed nonresidential investment 1.1 1.1 1.1 1.4 1.7 1.7 2.2 2.1 3.1 4.1 2

 3 Net acquisition of financial assets 43.9 28.3 64.0 51.5 27.8 59.6 99.7 126.5 122.5 90.0 3

 4 Vault cash 0.3 0.6 0.5 1.3 0.1 -0.3 0.5 1.1 2.0 1.0 4

 5 Reserves at Federal Reserve 0.4 1.3 1.3 0.8 0.2 2.1 3.6 -2.1 1.4 -1.2 5

 6 Federal funds and security repos 0.7 0.4 1.5 2.7 3.5 6.4 4.5 6.5 5.5 13.2 6

 7 Debt securities 1.6 -0.7 23.5 14.0 -9.4 26.8 30.1 20.4 1.4 6.8 7

 8 Open market paper -0.6 -0.1 0.9 -0.0 0.4 1.0 0.4 -0.1 -0.7 0.8 8

 9 Treasury securities -3.2 -3.6 7.5 2.1 -11.7 5.7 2.8 1.6 -10.5 -5.0 9

 10 Agency- and GSE-backed securities 0.6 0.4 3.2 1.6 0.8 6.1 7.8 7.3 9.6 4.8 10

 11 Residential mortgage pass-through securities 0.0 0.2 0.2 0.4 0.1 0.7 0.9 1.1 3.4 1.5 11

 12 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other 0.6 0.2 3.0 1.2 0.7 5.4 6.8 6.2 6.2 3.2 15

 16 Municipal securities 5.1 2.3 9.0 8.6 0.6 10.5 13.0 7.6 5.7 5.5 16

 17 Corporate and foreign bonds -0.3 0.3 2.8 1.7 0.5 3.5 6.1 4.0 -2.7 0.8 17

 18 Private residential mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Private commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Private residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Private commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other -0.3 0.3 2.8 1.7 0.5 3.5 6.1 4.0 -2.7 0.8 22

 23 Loans 40.2 26.6 34.3 32.0 35.1 23.5 56.2 95.1 107.7 77.7 23

 24 Depository institution loans n.e.c. 15.9 11.0 16.0 6.3 11.7 6.0 10.9 29.7 37.7 32.6 24

 25 Other loans and advances 0.0 0.2 0.6 0.1 0.8 1.3 0.7 -0.8 1.6 7.7 25

 26 Mortgages 18.7 12.4 14.0 18.6 17.5 13.9 35.7 53.1 52.4 33.5 26

 27 Consumer credit 5.6 3.1 3.7 6.9 5.1 2.3 8.9 13.1 16.0 4.0 27

 28 Corporate equities 0.2 0.0 0.2 0.3 0.2 0.3 0.5 0.6 0.4 0.2 28

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

 30 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 U.S. direct investment abroad 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.4 31

 32 Miscellaneous assets 0.3 -0.0 2.7 0.5 -2.2 0.7 4.1 4.6 3.8 -8.2 32

 33 Net increase in liabilities 42.6 27.0 53.6 56.9 29.2 63.1 100.3 130.0 115.8 89.9 33

 34 Net interbank liabilities 0.1 4.4 1.0 4.2 11.7 -4.1 -6.5 -6.4 -5.1 -5.3 34

 35 Federal Reserve float -0.4 0.3 -0.0 1.0 -0.0 0.8 0.1 -0.4 -0.9 -1.1 35

 36 Borrowing from Federal Reserve banks -0.1 0.1 -0.0 0.0 -0.0 0.2 -0.3 1.9 -0.7 -1.0 36

 37 To domestic banking 0.2 1.4 0.9 1.3 0.5 1.1 -1.2 -7.2 -2.6 -1.0 37

 38 To foreign banks 0.3 2.7 0.2 1.8 11.3 -6.1 -5.1 -0.8 -0.9 -2.2 38

 39 Checkable deposits 5.5 1.6 12.0 12.2 4.7 5.2 13.0 24.3 12.7 -1.2 39

 40 Federal government -1.0 -0.5 0.2 -0.2 0.0 2.9 2.2 0.7 -1.0 -5.1 40

 41 Private domestic 6.3 2.0 11.5 12.1 4.3 1.7 11.3 22.2 11.4 1.8 41

 42 Rest of the world 0.2 0.2 0.3 0.3 0.4 0.5 -0.5 1.4 2.2 2.1 42

 43 Small time and savings deposits 26.3 17.2 33.7 25.4 12.5 28.8 65.4 67.4 36.3 33.8 43

 44 Large time deposits 5.8 2.3 5.8 6.6 -15.8 23.8 13.2 18.0 38.1 39.9 44

 45 Federal funds and security repos 0.5 0.4 2.2 2.5 7.2 1.9 7.6 9.9 14.6 13.0 45

 46 Debt securities 0.8 0.3 0.8 0.3 0.6 1.4 1.5 0.3 1.6 7.9 46

 47 Open market paper 0.0 0.2 0.6 0.1 0.8 1.3 0.7 -0.8 1.6 7.8 47

 48 Corporate bonds 0.8 0.1 0.3 0.3 -0.2 0.1 0.9 1.1 0.0 0.2 48

 49 Loans (other loans and advances) 0.7 0.9 -2.5 0.9 4.0 1.3 -2.7 0.0 7.2 6.7 49

 50 Corporate equity issues -0.1 -0.0 -0.0 -0.1 -0.0 0.1 0.6 1.2 1.2 1.0 50

 51 Taxes payable (net) -0.1 -0.1 -0.1 -0.0 0.1 0.4 0.0 -0.2 0.1 0.2 51

 52 Miscellaneous liabilities 3.0 0.1 0.8 5.0 4.2 4.3 8.1 15.4 9.1 -6.0 52

 53 Investment by holding companies 0.0 0.0 0.0 0.0 4.0 6.0 5.0 6.0 1.5 6.0 53

 54 Other 3.0 0.1 0.8 5.0 0.2 -1.7 3.1 9.4 7.6 -12.0 54

 55 Discrepancy 1.6 1.1 -8.3 8.3 5.0 7.0 3.6 7.4 -2.3 4.0 55

 Memo:

 56 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

(1) Net capital transfers paid from table F.5, line 54.

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
Flo

ws

20 Historical Annuals, 1965-1974, March 10, 2016

F.112 Foreign Banking Offices in U.S. (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 2

 3 Net acquisition of financial assets -0.0 0.7 0.2 0.9 0.9 2.2 0.7 2.7 4.7 8.5 3

 4 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal funds and security repos -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 0.3 0.3 0.1 6

 7 Debt securities 0.1 0.0 0.4 -0.0 0.2 0.7 -0.7 0.4 0.4 0.9 7

 8 Open market paper 0.0 0.1 0.0 0.1 0.2 0.4 0.1 0.1 0.2 0.7 8

 9 Treasury securities 0.1 -0.1 0.1 0.0 0.0 -0.1 -0.2 0.1 -0.0 0.1 9

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

 11 Municipal securities 0.0 0.0 0.1 -0.1 0.0 0.2 -0.2 -0.0 0.0 0.1 11

 12 Corporate and foreign bonds 0.0 0.0 0.2 -0.1 0.0 0.3 -0.3 -0.1 -0.0 0.0 12

 13 Loans -0.2 0.5 0.3 0.4 1.4 2.8 0.7 0.6 3.9 8.1 13

 14 Depository institution loans n.e.c. -0.2 0.4 0.1 0.4 1.2 2.5 0.5 0.8 3.4 6.2 14

 15 Other loans and advances 0.0 0.0 0.1 0.0 0.2 0.3 0.2 -0.2 0.4 1.9 15

 16 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 16

 17 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 17

 18 Miscellaneous assets 0.0 0.1 -0.6 0.5 -0.8 -1.4 0.6 1.4 0.1 -0.6 18

 19 Net increase in liabilities -0.0 0.6 0.2 0.9 1.0 2.2 0.6 2.4 4.9 10.0 19

 20 Net interbank liabilities -0.2 0.3 -0.1 0.0 0.6 -0.8 0.7 2.1 1.3 5.3 20

 21 To foreign banks -0.2 0.2 0.4 0.4 1.0 -0.3 0.4 0.0 -1.8 2.0 21

 22 To domestic banks -0.0 0.1 -0.6 -0.3 -0.3 -0.6 0.3 2.1 3.1 3.3 22

 23 Checkable deposits -0.2 0.2 0.1 1.1 -0.0 4.2 0.2 -3.3 0.3 1.2 23

 24 Small time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.1 0.1 24

 25 Large time deposits 0.1 0.0 0.1 0.1 0.2 0.3 0.2 -0.3 0.8 1.0 25

 26 Federal funds and security repos -0.0 0.0 -0.0 0.0 0.0 0.0 0.4 0.3 1.4 0.9 26

 27 Debt securities (open market paper) (2) 0.0 0.0 0.1 0.0 0.2 0.3 0.2 -0.2 0.4 1.9 27

 28 Foreign direct investment in U.S. -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 28

 29 Miscellaneous liabilities 0.3 0.1 -0.0 -0.4 -0.1 -1.8 -1.1 3.9 0.5 -0.6 29

 30 Investment by funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Other 0.3 0.1 -0.0 -0.4 -0.1 -1.8 -1.1 3.9 0.5 -0.6 31

 32 Discrepancy -0.0 -0.0 0.1 -0.0 0.1 0.1 -0.1 -0.3 0.2 1.5 32

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 21

F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets 0.1 0.2 0.2 0.2 1.1 0.4 0.4 0.3 0.2 0.2 3

 4 Debt securities 0.0 0.1 0.1 0.1 0.1 0.0 0.2 0.3 -0.0 -0.0 4

 5 Treasury securities -0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 -0.1 -0.2 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 8

 9 Loans 0.1 0.1 0.1 0.0 0.2 0.1 0.1 0.0 0.1 0.5 9

 10 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Home mortgages 0.1 0.0 0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.1 11

 12 Commercial mortgages 0.0 0.0 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.1 0.4 12

 13 Miscellaneous assets 0.0 0.1 0.1 0.1 0.9 0.3 0.1 0.0 0.1 -0.2 13

 14 Net increase in liabilities 0.1 0.3 0.3 0.3 1.0 0.5 0.5 0.4 0.4 0.1 14

 15 Net interbank liabilities 0.0 -0.0 -0.1 -0.0 -0.0 -0.1 -0.1 -0.2 -0.3 0.2 15

 16 Checkable deposits 0.1 0.3 0.3 0.3 0.1 0.3 0.4 0.3 0.3 0.0 16

 17 Small time and savings deposits 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.1 0.1 0.0 17

 18 Large time deposits 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.1 0.1 0.0 18

 19 Miscellaneous liabilities -0.0 0.0 0.0 0.0 -0.0 0.1 0.1 0.1 0.3 -0.2 19

 20 Discrepancy -0.0 0.0 0.0 0.0 -0.0 0.1 0.1 0.1 0.2 -0.2 20

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

F.114 Credit Unions

Billions of dollars

 1 Gross saving 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.3 0.3 0.4 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets 1.0 1.1 0.8 1.5 2.0 1.3 2.0 2.8 3.5 2.7 3

 4 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 0.0 0.1 0.1 0.2 0.3 0.3 0.2 0.5 0.5 0.4 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 0.0 0.0 0.0 0.0 0.2 0.0 0.0 -0.0 0.3 0.1 8

 9 Agency- and GSE-backed securities 0.0 0.1 0.1 0.1 0.1 0.3 0.2 0.6 0.2 0.3 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Loans 1.0 1.0 0.8 1.3 1.8 1.0 1.8 2.3 3.1 2.3 12

 13 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Home mortgages -0.0 0.0 -0.1 -0.1 -0.2 -0.3 0.0 0.2 0.4 0.1 14

 15 Consumer credit 1.0 1.0 0.8 1.4 2.0 1.3 1.8 2.2 2.7 2.3 15

 16 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Miscellaneous assets -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 -0.1 17

 18 Net increase in liabilities 0.9 1.0 0.7 1.3 1.9 1.2 1.8 2.5 3.4 2.7 18

 19 Net interbank liabilities -0.0 0.1 -0.3 0.2 0.5 -0.6 -1.0 -0.7 0.4 -0.6 19

 20 Shares/deposits 1.0 0.9 1.0 1.2 1.4 1.7 2.9 3.3 2.9 3.0 20

 21 Checkable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Small time and savings 1.0 0.8 1.0 1.2 1.4 1.7 2.9 3.3 2.9 3.0 22

 23 Large time 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous liabilities -0.1 -0.0 -0.0 -0.0 -0.0 0.0 -0.1 -0.1 0.1 0.3 26

 27 Discrepancy -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.1 0.3 27
Flo

ws

22 Historical Annuals, 1965-1974, March 10, 2016

F.115 Property-Casualty Insurance Companies

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving less net capital transfers paid (1) 0.1 0.7 0.7 0.6 0.3 1.1 2.0 2.4 1.8 0.8 1

 2 Fixed nonresidential investment 0.3 0.3 0.3 0.4 0.4 0.5 0.5 0.5 0.6 0.7 2

 3 Net acquisition of financial assets 1.2 2.1 2.1 3.2 3.1 5.6 6.9 8.2 6.9 5.2 3

 4 Checkable deposits and currency -0.1 0.0 -0.0 0.1 -0.0 0.1 0.1 0.0 -0.0 0.1 4

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

 6 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Debt securities 1.0 1.5 1.4 1.9 1.6 3.8 3.8 3.7 3.5 4.6 7

 8 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities -0.2 -0.5 -0.7 -0.4 -0.5 -0.1 -0.2 -0.3 -0.1 0.0 9

 10 Agency- and GSE-backed securities 0.1 0.7 -0.1 0.2 0.2 0.0 0.3 0.4 0.0 0.4 10

 11 Municipal securities 0.4 0.7 1.5 0.9 1.1 1.5 3.5 4.3 3.6 2.2 11

 12 Corporate and foreign bonds 0.6 0.6 0.7 1.2 0.8 2.3 0.3 -0.7 -0.1 2.0 12

 13 Loans (commercial mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 13

 14 Corporate equities 0.1 0.4 0.3 0.8 1.0 1.0 2.5 3.0 2.4 -0.5 14

 15 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Trade receivables 0.2 0.2 0.3 0.3 0.4 0.5 0.3 1.2 0.6 0.5 16

 17 U.S. direct investment abroad 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.4 0.5 17

 18 Miscellaneous assets (equity in FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Net increase in liabilities 1.7 1.9 2.2 2.7 4.0 3.9 4.1 5.4 5.4 5.5 19

 20 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Corporate equity issues 0.1 0.1 0.1 0.2 0.5 0.4 0.6 0.5 0.5 0.9 21

 22 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Taxes payable (net) 0.1 0.0 0.0 -0.0 0.1 0.1 -0.0 0.1 0.0 0.0 23

 24 Foreign direct investment in U.S. -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 24

 25 Miscellaneous liabilities 1.5 1.8 2.1 2.5 3.3 3.4 3.6 4.8 4.8 4.9 25

 26 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Policy payables 1.5 1.8 2.1 2.5 3.3 3.4 3.6 4.8 4.8 4.9 27

 28 Discrepancy 0.2 0.2 0.5 -0.2 0.8 -1.1 -1.2 -0.8 -0.3 0.3 28

(1) Net capital transfers paid from table F.5, line 51.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 23

F.116 Life Insurance Companies (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.9 1.0 1.0 1.0 0.9 1.1 1.3 1.4 1.8 2.2 1

 2 Fixed nonresidential investment 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.4 0.5 0.6 2

 3 Net acquisition of financial assets 8.8 8.6 8.7 9.4 9.5 9.9 12.7 14.4 16.9 16.6 3

 4 Checkable deposits and currency 0.0 0.0 0.0 0.1 -0.0 0.1 0.0 0.2 0.1 -0.1 4

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

 6 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Debt securities 2.2 2.1 3.6 3.6 2.4 2.4 6.0 7.3 5.7 5.4 7

 8 Open market paper 0.0 0.1 0.1 0.0 0.8 0.8 0.6 0.2 0.0 1.1 8

 9 Treasury securities -0.5 -0.2 -0.2 -0.2 -0.3 -0.1 -0.2 -0.0 -0.4 -0.1 9

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

 11 Municipal securities -0.2 -0.3 -0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.3 11

 12 Corporate and foreign bonds 2.8 2.4 3.8 3.7 1.7 1.5 5.5 7.0 5.9 4.0 12

 13 Loans 5.4 6.0 3.8 3.7 4.6 4.6 2.1 2.4 6.6 7.5 13

 14 Other loans and advances 0.5 1.4 0.9 1.2 2.5 2.2 1.0 0.9 2.2 2.7 14

 15 Mortgages 4.9 4.6 2.9 2.5 2.1 2.3 1.1 1.5 4.4 4.9 15

 16 Corporate equities 0.7 0.2 1.0 1.3 1.3 1.6 4.0 3.8 3.3 1.9 16

 17 Mutual fund shares 0.0 0.0 0.0 0.0 0.4 0.4 -0.4 -0.3 0.2 0.4 17

 18 U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 18

 19 Miscellaneous assets 0.4 0.2 0.2 0.6 0.8 0.8 0.9 1.0 0.9 1.3 19

 20 Equity in FHLB 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Deferred and unpaid life ins. premiums 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.4 0.7 21

 22 Other 0.2 -0.1 -0.1 0.2 0.4 0.3 0.6 0.4 0.5 0.6 22

 23 Net increase in liabilities 7.9 8.0 8.1 8.7 9.6 9.7 12.8 13.8 15.5 15.6 23

 24 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Life insurance reserves 4.7 4.6 5.1 4.8 5.0 5.2 6.3 6.7 7.2 7.0 27

 28 Pension entitlements (2) 2.1 2.1 1.5 2.3 3.1 2.9 4.6 4.4 5.7 6.0 28

 29 Taxes payable (net) -0.0 0.1 -0.1 0.2 0.1 0.1 -0.0 0.0 0.0 -0.0 29

 30 Foreign direct investment in U.S. -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 30

 31 Miscellaneous liabilities 1.2 1.2 1.6 1.5 1.4 1.5 1.9 2.6 2.5 2.8 31

 32 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Funding agreements backing securities (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Other reserves (4) 0.7 0.9 0.9 1.0 1.1 1.3 1.3 1.5 1.7 1.7 34

 35 Unallocated insurance contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Other 0.4 0.4 0.7 0.5 0.3 0.2 0.6 1.1 0.8 1.1 36

 37 Discrepancy -0.2 0.1 0.2 0.0 0.7 0.5 1.0 0.4 -0.2 0.5 37

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables F.116.g and F.116.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 35.

(3) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(4) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
Flo

ws

24 Historical Annuals, 1965-1974, March 10, 2016

F.116.g Life Insurance Companies: General Accounts

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets 8.8 8.6 8.7 9.4 9.5 9.9 12.7 14.4 16.9 16.6 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.1 -0.0 0.1 0.0 0.2 0.1 -0.1 2

 3 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Debt securities 2.2 2.1 3.6 3.6 2.4 2.4 6.0 7.3 5.7 5.4 5

 6 Open market paper 0.0 0.1 0.1 0.0 0.8 0.8 0.6 0.2 0.0 1.1 6

 7 Treasury securities -0.5 -0.2 -0.2 -0.2 -0.3 -0.1 -0.2 -0.0 -0.4 -0.1 7

 8 Agency- and GSE-backed securities 0.0 0.1 -0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 8

 9 Municipal securities -0.2 -0.3 -0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.3 9

 10 Corporate and foreign bonds 2.8 2.4 3.8 3.7 1.7 1.5 5.5 7.0 5.9 4.0 10

 11 Loans 5.4 6.0 3.8 3.7 4.6 4.6 2.1 2.4 6.6 7.5 11

 12 Other loans and advances 0.5 1.4 0.9 1.2 2.5 2.2 1.0 0.9 2.2 2.7 12

 13 Mortgages 4.9 4.6 2.9 2.5 2.1 2.3 1.1 1.5 4.4 4.9 13

 14 Corporate equities 0.7 0.2 1.0 1.3 1.3 1.6 4.0 3.8 3.3 1.9 14

 15 Mutual fund shares 0.0 0.0 0.0 0.0 0.4 0.4 -0.4 -0.3 0.2 0.4 15

 16 U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 16

 17 Miscellaneous assets 0.4 0.2 0.2 0.6 0.8 0.8 0.9 1.0 0.9 1.3 17

 18 Net increase in liabilities 7.9 8.0 8.1 8.7 9.6 9.7 12.8 13.8 15.5 15.6 18

 19 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Life insurance reserves 4.7 4.6 5.1 4.8 5.0 5.2 6.3 6.7 7.2 7.0 22

 23 Pension entitlements (1) 2.1 2.1 1.5 2.3 3.1 2.9 4.6 4.4 5.7 6.0 23

 24 Taxes payable (net) -0.0 0.1 -0.1 0.2 0.1 0.1 -0.0 0.0 0.0 -0.0 24

 25 Foreign direct investment in U.S. -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 25

 26 Miscellaneous liabilities 1.2 1.2 1.6 1.5 1.4 1.5 1.9 2.6 2.5 2.8 26

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 26).

F.116.s Life Insurance Companies: Separate Accounts

Billions of dollars

 1 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net increase in liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Pension entitlements (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 18).
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 25

F.117 Private and Public Pension Funds (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets (2) 33.6 39.5 43.7 50.0 59.4 55.4 59.4 72.8 71.2 78.3 3

 4 Checkable deposits and currency 0.1 -0.1 0.1 0.2 -0.1 0.2 0.4 0.7 0.4 0.6 4

 5 Time and savings deposits 0.4 0.5 0.8 0.7 0.7 0.9 0.9 1.3 2.1 2.7 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Security repurchase agreements 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.8 0.4 0.5 7

 8 Debt securities 4.9 6.5 4.9 5.4 5.8 8.2 4.6 13.8 13.7 17.3 8

 9 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 1.3 2.3 9

 10 Treasury securities (3) 1.3 1.0 0.0 1.5 0.9 2.0 1.6 4.0 3.0 5.0 10

 11 Agency- and GSE-backed securities 0.1 0.2 0.0 0.7 0.4 0.2 -0.2 2.0 2.3 2.4 11

 12 Municipal securities -0.3 -0.1 -0.1 -0.0 -0.1 -0.3 0.1 -0.1 -0.3 -0.7 12

 13 Corporate and foreign bonds 3.8 5.5 4.9 3.3 4.6 6.3 3.1 6.2 7.3 8.4 13

 14 Loans (mortgages) 1.3 1.3 0.7 0.3 0.4 0.3 -0.1 -0.7 0.3 0.6 14

 15 Corporate equities 8.8 9.5 12.1 14.2 15.8 6.7 12.1 15.8 7.5 4.4 15

 16 Mutual fund shares 0.0 0.1 0.0 0.1 0.2 0.2 0.2 0.3 0.6 0.8 16

 17 Miscellaneous assets 18.1 21.6 25.1 28.9 36.5 38.8 41.3 40.9 46.1 51.4 17

 18 Unallocated insurance contracts (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Contributions receivable 0.2 0.0 0.2 0.2 0.0 0.1 0.3 0.5 -0.0 -0.0 19

 20 Claims of pension fund on sponsor (5) 17.3 20.6 23.9 28.0 35.6 37.8 40.1 33.6 42.5 46.8 20

 21 Other 0.6 1.0 1.0 0.8 0.8 0.9 0.8 6.7 3.6 4.6 21

 22 Pension entitlements (liabilities) (6) 33.6 39.5 43.7 50.0 59.4 55.5 59.4 72.8 71.2 78.3 22

 Memo:

 23 Household retirement assets (7) ND ND ND ND ND ND ND ND ND ND 23

 24 Defined benefit plans 26.8 31.9 35.0 40.0 48.7 53.0 56.5 63.4 65.6 71.7 24

 25 Defined contribution plans 6.7 7.6 8.8 10.0 10.7 2.5 2.9 9.4 5.6 6.6 25

 26 Individual retirement plans (IRAs) (8) ND ND ND ND ND ND ND ND ND ND 26

 27 Annuities at life insurance companies (9) ND ND ND ND ND ND ND ND ND ND 27

(1) Private pension funds, state and local government employee retirement funds, and federal government employee retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(8) IRA assets are not included above. See memo item on table F.227 for a sectoral distribution of IRA accounts.

(9) Annuities held in IRAs at life insurance companies are excluded. They are included in line 26.
Flo

ws

26 Historical Annuals, 1965-1974, March 10, 2016

F.118 Private Pension Funds (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets (2) 12.7 16.8 19.1 22.5 28.5 18.3 16.8 26.1 22.7 27.2 3

 4 Checkable deposits and currency 0.0 -0.2 0.1 0.1 0.0 0.1 0.2 0.5 0.7 0.9 4

 5 Time and savings deposits 0.4 0.5 0.6 0.7 0.7 0.9 1.0 1.2 1.5 1.9 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Security repurchase agreements 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.8 0.4 0.5 7

 8 Debt securities 1.3 2.3 0.7 1.1 0.6 2.1 -1.1 6.5 6.6 8.9 8

 9 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 1.3 2.3 9

 10 Treasury securities -0.2 -0.2 -0.3 0.4 -0.2 -0.1 0.0 1.3 2.0 3.2 10

 11 Agency- and GSE-backed securities -0.0 -0.0 -0.1 0.1 0.2 0.3 -0.3 1.5 1.1 1.1 11

 12 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate and foreign bonds 1.5 2.5 1.1 0.6 0.6 1.8 -0.8 2.0 2.1 2.3 13

 14 Loans (mortgages) 0.6 0.5 0.2 -0.0 0.1 -0.0 -0.5 -0.9 -0.4 -0.0 14

 15 Corporate equities 8.5 9.1 11.4 12.8 14.0 4.6 8.9 12.1 4.1 1.8 15

 16 Mutual fund shares 0.0 0.1 0.0 0.1 0.2 0.2 0.2 0.3 0.6 0.8 16

 17 Miscellaneous assets 1.8 4.4 6.0 7.6 12.6 10.5 8.1 5.7 9.2 12.4 17

 18 Unallocated insurance contracts (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Contributions receivable 0.2 0.0 0.2 0.2 0.0 0.1 0.3 0.5 -0.0 -0.0 19

 20 Claims of pension fund on sponsor (4) 1.1 3.3 4.7 6.6 11.7 9.5 6.9 -1.6 5.6 7.8 20

 21 Other 0.6 1.0 1.0 0.8 0.8 0.9 0.8 6.7 3.6 4.6 21

 22 Pension entitlements (liabilities) (5) 12.7 16.8 19.1 22.5 28.5 18.3 16.8 26.1 22.7 27.2 22

 Memo:

 Net acquisition of financial assets (6)

 23 Defined benefit plans 6.0 9.2 10.4 12.5 17.8 15.9 13.9 16.7 17.1 20.7 23

 24 Defined contribution plans 6.7 7.6 8.8 10.0 10.7 2.5 2.9 9.4 5.6 6.6 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) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.118.b and F.118.c.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 27

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets (1) 6.0 9.2 10.4 12.5 17.8 15.9 13.9 16.7 17.1 20.7 1

 2 Checkable deposits and currency 0.0 -0.2 0.1 0.1 0.0 0.1 0.2 0.5 0.7 0.9 2

 3 Time and savings deposits 0.2 0.3 0.3 0.4 0.4 0.5 0.5 0.7 0.8 1.0 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.8 0.4 0.5 5

 6 Debt securities 1.0 1.8 0.6 0.8 0.5 1.7 -0.9 4.7 4.9 6.5 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.1 0.8 1.4 7

 8 Treasury securities -0.1 -0.2 -0.2 0.3 -0.1 -0.0 0.0 0.9 1.5 2.4 8

 9 Agency- and GSE-backed securities -0.0 -0.0 -0.1 0.0 0.2 0.2 -0.2 1.1 0.9 0.9 9

 10 Corporate and foreign bonds 1.2 2.0 0.9 0.5 0.5 1.5 -0.7 1.6 1.7 1.8 10

 11 Loans (mortgages) 0.6 0.5 0.2 -0.0 0.1 -0.0 -0.5 -0.9 -0.4 -0.0 11

 12 Corporate equities 2.5 2.8 3.7 3.9 4.3 3.4 6.7 9.1 3.1 1.3 12

 13 Mutual fund shares 0.0 0.1 0.0 0.1 0.2 0.2 0.2 0.3 0.6 0.8 13

 14 Miscellaneous assets 1.4 3.8 5.4 7.1 12.1 10.0 7.6 1.6 7.0 9.6 14

 15 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Contributions receivable 0.2 0.0 0.2 0.2 0.0 0.1 0.3 0.5 -0.0 -0.0 16

 17 Claims of pension fund on sponsor (3) 1.1 3.3 4.7 6.6 11.7 9.5 6.9 -1.6 5.6 7.8 17

 18 Other 0.2 0.4 0.4 0.3 0.3 0.3 0.3 2.7 1.4 1.9 18

 19 Net increase in pension entitlements (liabilities) (4) 6.0 9.2 10.4 12.5 17.8 15.9 13.9 16.7 17.1 20.7 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

F.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 6.7 7.6 8.8 10.0 10.7 2.5 2.9 9.4 5.6 6.6 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Time and savings deposits 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.6 0.7 0.9 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 0.3 0.4 0.1 0.2 0.1 0.4 -0.2 1.7 1.7 2.4 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.5 0.9 7

 8 Treasury securities -0.0 -0.1 -0.1 0.1 -0.0 -0.0 0.0 0.3 0.5 0.8 8

 9 Agency- and GSE-backed securities -0.0 -0.0 -0.0 0.0 0.0 0.1 -0.1 0.3 0.2 0.2 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.3 0.5 0.2 0.1 0.1 0.4 -0.2 0.4 0.4 0.5 11

 12 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate equities 6.0 6.3 7.8 9.0 9.7 1.1 2.2 3.0 1.0 0.4 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Miscellaneous assets 0.3 0.6 0.6 0.5 0.5 0.5 0.5 4.0 2.2 2.8 15

 16 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Contributions receivable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other 0.3 0.6 0.6 0.5 0.5 0.5 0.5 4.0 2.2 2.8 18

 19 Net increase in pension entitlements (liabilities) 6.7 7.6 8.8 10.0 10.7 2.5 2.9 9.4 5.6 6.6 19

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
Flo

ws

28 Historical Annuals, 1965-1974, March 10, 2016

F.119 Federal Government Employee Retirement Funds

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets (1) 14.5 15.8 17.0 18.3 20.4 25.3 28.6 30.2 31.3 32.0 1

 2 Debt securities 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 2

 3 Treasury securities (2) 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 13.2 14.5 15.7 17.0 18.9 22.9 25.8 27.2 29.2 29.2 7

 8 Pension entitlements (liabilities) (4) 14.5 15.8 17.0 18.3 20.4 25.3 28.6 30.2 31.3 32.0 8

 Memo:

 Net acquisition of financial assets (5)

 9 Defined benefit plans 14.5 15.8 17.0 18.3 20.4 25.3 28.6 30.2 31.3 32.0 9

 10 Defined contibution plans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes marketable and nonmarketable Treasury securities.

(3) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(5) Additional detail on defined benefit plans and defined contribution plans is available on tables F.119.b and F.119.c.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 29

F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets (2) 14.5 15.8 17.0 18.3 20.4 25.3 28.6 30.2 31.3 32.0 1

 2 Debt securities 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 2

 3 Treasury securities (3) 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Claims of pension fund on sponsor (misc. assets) (4) 13.2 14.5 15.7 17.0 18.9 22.9 25.8 27.2 29.2 29.2 7

 8 Pension entitlements (liabilities) (5) 14.5 15.8 17.0 18.3 20.4 25.3 28.6 30.2 31.3 32.0 8

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Treasury securities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Pension entitlements (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
Flo

ws

30 Historical Annuals, 1965-1974, March 10, 2016

F.120 State and Local Government Employee Retirement Funds

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets (1) 6.4 7.0 7.6 9.2 10.5 11.8 14.0 16.5 17.2 19.1 3

 4 Checkable deposits and currency 0.0 0.1 -0.1 0.1 -0.1 0.1 0.2 0.2 -0.2 -0.3 4

 5 Time and savings deposits 0.0 0.0 0.2 0.1 -0.1 0.0 -0.1 0.0 0.6 0.7 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Debt securities 2.3 2.9 2.8 3.0 3.6 3.8 2.9 4.4 5.0 5.7 8

 9 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 0.1 -0.0 -1.0 -0.2 -0.5 -0.3 -1.2 -0.3 -1.1 -0.9 10

 11 Agency- and GSE-backed securities 0.1 0.2 0.1 0.6 0.2 -0.1 0.1 0.6 1.2 1.2 11

 12 Municipal securities -0.3 -0.1 -0.1 -0.0 -0.1 -0.3 0.1 -0.1 -0.3 -0.7 12

 13 Corporate and foreign bonds 2.3 2.9 3.7 2.6 4.0 4.5 3.9 4.2 5.2 6.1 13

 14 Loans (mortgages) 0.7 0.8 0.5 0.4 0.2 0.3 0.4 0.2 0.7 0.6 14

 15 Corporate equities 0.4 0.5 0.7 1.3 1.8 2.1 3.2 3.7 3.4 2.6 15

 16 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Miscellaneous assets 3.1 2.7 3.5 4.4 5.1 5.4 7.5 8.0 7.7 9.8 17

 18 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Claims of pension fund on sponsor (3) 3.1 2.7 3.5 4.4 5.1 5.4 7.5 8.0 7.7 9.8 19

 20 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Pension entitlements (liabilities) (4) 6.4 7.0 7.6 9.2 10.5 11.8 14.0 16.5 17.2 19.1 21

 Memo:

 Net acquisition of financial assets (5)

 22 Defined benefit plans 6.4 7.0 7.6 9.2 10.5 11.8 14.0 16.5 17.2 19.1 22

 23 Defined contibution plans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Additional detail on defined benefit plans and defined contribution plans is available on tables F.120.b and F.120.c.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 31

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets (1) 6.4 7.0 7.6 9.2 10.5 11.8 14.0 16.5 17.2 19.1 1

 2 Checkable deposits and currency 0.0 0.1 -0.1 0.1 -0.1 0.1 0.2 0.2 -0.2 -0.3 2

 3 Time and savings deposits 0.0 0.0 0.2 0.1 -0.1 0.0 -0.1 0.0 0.6 0.7 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 2.3 2.9 2.8 3.0 3.6 3.8 2.9 4.4 5.0 5.7 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 0.1 -0.0 -1.0 -0.2 -0.5 -0.3 -1.2 -0.3 -1.1 -0.9 8

 9 Agency- and GSE-backed securities 0.1 0.2 0.1 0.6 0.2 -0.1 0.1 0.6 1.2 1.2 9

 10 Municipal securities -0.3 -0.1 -0.1 -0.0 -0.1 -0.3 0.1 -0.1 -0.3 -0.7 10

 11 Corporate and foreign bonds 2.3 2.9 3.7 2.6 4.0 4.5 3.9 4.2 5.2 6.1 11

 12 Loans (mortgages) 0.7 0.8 0.5 0.4 0.2 0.3 0.4 0.2 0.7 0.6 12

 13 Corporate equities 0.4 0.5 0.7 1.3 1.8 2.1 3.2 3.7 3.4 2.6 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Miscellaneous assets 3.1 2.7 3.5 4.4 5.1 5.4 7.5 8.0 7.7 9.8 15

 16 Claims of pension fund on sponsor (2) 3.1 2.7 3.5 4.4 5.1 5.4 7.5 8.0 7.7 9.8 16

 17 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Pension entitlements (liabilities) (3) 6.4 7.0 7.6 9.2 10.5 11.8 14.0 16.5 17.2 19.1 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

F.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Pension entitlements (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
Flo

ws

32 Historical Annuals, 1965-1974, March 10, 2016

F.121 Money Market Mutual Funds (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 1

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

 3 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.6 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 5

 6 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 7

 8 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 8

 9 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 12

 13 Net share issues (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.116).

F.122 Mutual Funds (1)

Billions of dollars

 1 Gross saving -0.1 0.1 0.2 0.1 0.1 -0.1 -0.0 -0.0 -0.3 -0.2 1

 2 Net acquisition of financial assets 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 2

 3 Security repurchase agreements 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 3

 4 Debt securities 0.7 1.3 -0.8 -0.2 1.0 0.6 -0.2 0.5 0.6 0.8 4

 5 Open market paper 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 5

 6 Treasury securities 0.0 0.6 -0.5 0.2 -0.5 0.2 -0.3 0.1 -0.0 0.4 6

 7 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Corporate and foreign bonds 0.4 0.4 -0.4 -0.6 0.9 0.6 0.2 0.5 0.1 0.6 9

 10 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate equities 1.3 1.0 1.8 2.5 1.8 1.2 0.4 -1.8 -2.2 -0.4 11

 12 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Net share issues (liabilities) 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 13

 14 Discrepancy -0.1 0.1 0.2 0.1 0.1 -0.1 -0.0 -0.0 -0.3 -0.2 14

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance companies sector (table F.116).

F.123 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Net acquisition of financial assets -0.7 0.3 -0.8 0.7 0.5 -2.3 1.1 -0.1 2.7 0.9 1

 2 Debt securities 0.0 -0.0 0.1 0.4 -0.0 -0.7 0.6 0.3 0.5 -0.2 2

 3 Treasury securities -0.0 -0.0 0.0 0.1 -0.0 -0.1 0.1 0.1 0.1 -0.1 3

 4 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.1 0.3 0.0 -0.6 0.4 0.2 0.4 -0.1 5

 6 Corporate equities -0.7 0.3 -1.0 0.3 0.5 -1.6 0.5 -0.4 2.1 1.1 6

 7 Net share issues (liabilities) -0.7 0.3 -0.8 0.7 0.5 -2.3 1.1 -0.1 2.7 0.9 7

 Exchange-traded funds

 8 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Net share issues (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 33

F.124 Government-Sponsored Enterprises (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.3 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets 2.3 5.0 -0.0 3.3 9.2 10.3 0.7 4.0 18.8 18.2 3

 4 Checkable deposits and currency -0.0 0.0 0.0 0.0 0.0 -0.0 0.1 -0.0 0.1 -0.0 4

 5 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal funds and security repos -0.0 0.0 -0.0 0.0 0.2 0.8 -0.6 0.4 2.3 -1.0 6

 7 Debt securities 0.1 0.9 0.0 -0.1 -0.6 1.1 -0.5 -0.8 -0.2 1.3 7

 8 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.2 0.9 8

 9 Treasury securities 0.1 0.9 0.0 -0.1 -0.6 1.1 -0.6 -1.2 -0.1 0.3 9

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

 11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Loans 2.1 4.1 -0.1 3.3 9.2 7.7 1.6 4.8 15.6 19.6 13

 14 Other loans and advances 1.0 1.6 -1.8 1.2 4.8 2.3 -2.0 0.8 8.5 9.3 14

 15 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Farm Credit System 0.4 0.6 0.7 0.3 0.8 1.0 0.7 0.7 1.4 2.6 16

 17 FHLB loans 0.7 0.9 -2.5 0.9 4.0 1.3 -2.7 0.0 7.2 6.7 17

 18 Mortgages 1.1 2.6 1.8 2.2 4.4 5.4 3.6 4.0 7.1 10.3 18

 19 Home 0.5 1.9 1.1 1.6 3.8 4.6 2.1 1.8 3.4 5.6 19

 20 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Other 0.5 1.9 1.1 1.6 3.8 4.6 2.1 1.8 3.4 5.6 21

 22 Multifamily residential -0.0 0.0 -0.0 0.0 0.0 0.3 0.8 1.0 1.8 2.2 22

 23 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other -0.0 0.0 -0.0 0.0 0.0 0.3 0.8 1.0 1.8 2.2 24

 25 Farm 0.6 0.7 0.7 0.5 0.6 0.5 0.7 1.2 1.9 2.5 25

 26 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Miscellaneous assets 0.1 -0.1 0.0 0.0 0.4 0.8 0.2 -0.3 1.0 -1.8 27

 28 Net increase in liabilities 2.2 5.0 -0.1 3.2 9.2 10.1 0.6 3.9 18.8 18.2 28

 29 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Debt securities (GSE issues) (4) 1.9 5.1 -0.6 3.2 9.1 8.2 1.1 3.5 16.3 16.6 30

 31 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Other 1.9 5.1 -0.6 3.2 9.1 8.2 1.1 3.5 16.3 16.6 32

 33 Loans (U.S. government loans) 0.2 -0.2 -0.1 0.2 -0.3 0.0 0.0 0.0 0.0 0.7 33

 34 Corporate equities 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.4 0.5 34

 35 Miscellaneous liabilities 0.1 0.2 0.5 -0.2 0.4 1.8 -0.5 0.4 2.2 0.4 35

 36 Discrepancy -0.0 0.0 -0.0 0.0 0.1 -0.1 0.0 0.0 0.3 0.4 36

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing

 Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.125) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (F.124).

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.125 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Net acquisition of financial assets 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 1

 2 Home mortgages 0.1 0.2 0.4 0.3 0.4 1.2 4.2 4.0 2.9 4.4 2

 3 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 0.2 0.2 3

 4 Commercial mortgages 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.3 -0.1 4

 5 Farm mortgages 0.1 0.1 0.2 0.1 0.2 0.3 0.4 0.3 0.2 -0.0 5

 6 Net increase in pool securities (liabilities)(2) 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (F.125) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.124). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
Flo

ws

34 Historical Annuals, 1965-1974, March 10, 2016

F.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net acquisition of financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Mortgages (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Home 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Multifamily residential 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Commercial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Trade credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Miscellaneous assets (funding agreements) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net increase in liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds (net) (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Memo:

 Securitized assets not included above

 20 Consumer leases (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 REIT assets (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Funding agreements with life insurance companies.

(4) Net issuance less net acquisition of corporate bonds held as assets.

(5) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.

(6) Included in table F.128.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 35

F.127 Finance Companies (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.5 0.5 0.6 0.5 0.3 0.3 0.6 0.7 0.8 0.8 1

 2 Fixed nonresidential investment 0.3 0.3 0.6 1.1 0.7 0.7 0.5 0.5 0.9 1.3 2

 3 Net acquisition of financial assets 5.5 1.8 1.0 5.9 9.4 3.7 8.1 11.6 13.6 3.4 3

 4 Checkable deposits and currency 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 4

 5 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 5

 6 Debt securities (corporate and foreign bonds) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Loans 4.8 2.3 0.5 5.2 8.6 2.3 6.1 9.9 11.9 5.4 7

 8 Other loans and advances 2.0 1.1 -0.3 2.2 5.0 0.4 1.3 4.2 5.0 4.8 8

 9 Mortgages 0.5 -0.6 0.4 0.6 0.8 1.8 2.4 2.2 2.3 -1.4 9

 10 Consumer credit 2.3 1.8 0.5 2.3 2.8 0.1 2.3 3.6 4.6 1.9 10

 11 U.S. direct investment abroad 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Miscellaneous assets 0.4 -0.7 0.4 0.6 0.7 1.1 1.7 1.3 1.4 -2.3 12

 13 Net increase in liabilities 4.8 1.1 0.3 5.2 8.8 3.0 7.7 11.2 13.4 2.9 13

 14 Debt securities 1.6 5.0 2.7 3.2 7.1 1.5 1.9 2.7 5.9 9.2 14

 15 Open market paper 1.2 3.5 2.0 2.9 6.0 0.6 -0.5 -1.3 2.0 3.6 15

 16 Corporate bonds 0.4 1.5 0.7 0.3 1.1 0.8 2.3 4.0 3.9 5.6 16

 17 Loans 3.3 -0.6 -0.4 1.1 1.0 2.2 0.9 5.0 3.5 -2.2 17

 18 Depository institution loans n.e.c. 3.3 -0.6 -0.4 1.1 1.0 2.2 0.9 5.0 3.5 -2.2 18

 19 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Taxes payable 0.1 -0.0 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Foreign direct investment in U.S. -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 21

 22 Miscellaneous liabilities -0.2 -3.2 -2.0 0.8 0.6 -0.7 4.8 3.4 4.0 -4.1 22

 23 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.6 2.4 0.6 -0.3 23

 24 Other -0.2 -3.2 -2.0 0.8 0.6 -0.7 4.2 1.1 3.4 -3.8 24

 25 Discrepancy -0.5 -0.6 -0.7 -1.3 -1.1 -1.1 -0.4 -0.2 -0.3 -1.0 25

 Memo:

 26 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (5), table F.126.
Flo

ws

36 Historical Annuals, 1965-1974, March 10, 2016

F.128 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.0 -0.0 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.5 0.4 2

 3 Multifamily residential investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 3

 4 Net acquisition of financial assets 0.0 0.0 0.0 0.8 1.2 1.9 2.5 5.3 4.9 -0.2 4

 5 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Loans (mortgages) 0.0 0.0 0.0 0.8 1.2 1.9 2.3 4.2 5.6 0.2 9

 10 Home 0.0 0.0 0.0 0.0 0.2 0.4 0.2 0.4 0.7 -0.2 10

 11 Multifamily residential 0.0 0.0 0.0 0.1 0.4 0.8 0.9 2.0 2.4 0.2 11

 12 Commercial 0.0 0.0 0.0 0.7 0.6 0.7 1.2 1.7 2.5 0.2 12

 13 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.1 -0.6 -0.4 13

 14 Net increase in liabilities 0.0 0.0 0.0 0.9 1.3 2.0 2.7 5.8 5.6 0.3 14

 15 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Debt securities 0.0 0.0 0.0 0.0 0.1 0.5 1.2 2.8 1.3 -3.1 16

 17 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.8 2.5 0.7 -3.3 17

 18 Corporate bonds 0.0 0.0 0.0 0.0 0.1 0.5 0.4 0.4 0.6 0.2 18

 19 Loans 0.0 0.0 0.0 0.8 0.6 0.2 0.7 1.8 3.7 3.4 19

 20 Depository institution loans n.e.c. 0.0 0.0 0.0 0.6 0.4 0.1 0.6 1.3 3.4 3.3 20

 21 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Mortgages 0.0 0.0 0.0 0.2 0.2 0.1 0.1 0.5 0.3 0.1 22

 23 Corporate equity issues 0.0 0.0 0.0 0.1 0.6 1.4 0.8 0.8 0.5 -1.4 23

 24 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.1 1.4 24

 25 Discrepancy -0.1 -0.1 -0.1 -0.1 -0.1 -0.0 0.0 -0.0 0.1 0.2 25

 Memo:

 26 Securitized assets included above 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.128.e and F.128.m.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 37

F.128.e Equity Real Estate Investment Trusts

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets 0.0 0.0 0.0 0.7 1.1 1.8 2.3 4.8 4.4 -0.4 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Debt securities (corporate and foreign bonds) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Loans (mortgages) 0.0 0.0 0.0 0.5 0.5 0.7 1.1 1.8 2.5 0.2 4

 5 Home 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 5

 6 Multifamily residential 0.0 0.0 0.0 0.0 0.2 0.3 0.3 0.7 0.9 0.1 6

 7 Commercial 0.0 0.0 0.0 0.5 0.4 0.5 0.8 1.1 1.6 0.1 7

 8 Miscellaneous assets 0.0 0.0 0.0 0.3 0.6 1.1 1.2 2.9 1.9 -0.6 8

 9 Net increase in liabilities 0.0 0.0 0.0 0.7 0.6 0.6 1.7 4.4 4.5 1.5 9

 10 Debt securities (corporate bonds) 0.0 0.0 0.0 0.0 0.1 0.4 0.3 0.3 0.4 0.1 10

 11 Loans 0.0 0.0 0.0 0.7 0.6 0.2 0.7 1.7 3.4 3.2 11

 12 Depository institution loans n.e.c. 0.0 0.0 0.0 0.5 0.4 0.1 0.6 1.2 3.1 3.0 12

 13 Mortgages 0.0 0.0 0.0 0.2 0.2 0.1 0.1 0.5 0.3 0.1 13

 14 Multifamily residential 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.2 0.1 0.0 14

 15 Commercial 0.0 0.0 0.0 0.1 0.2 0.1 0.1 0.3 0.2 0.1 15

 16 Miscellaneous liabilities 0.0 0.0 0.0 -0.0 -0.0 0.0 0.7 2.4 0.6 -1.8 16

F.128.m Mortgage Real Estate Investment Trusts

Billions of dollars

 1 Net acquisition of financial assets 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.5 0.6 0.2 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Loans (mortgages) 0.0 0.0 0.0 0.3 0.7 1.2 1.2 2.4 3.1 0.0 6

 7 Home 0.0 0.0 0.0 0.0 0.2 0.4 0.2 0.4 0.7 -0.2 7

 8 Multifamily residential 0.0 0.0 0.0 0.0 0.3 0.5 0.6 1.3 1.5 0.1 8

 9 Commercial 0.0 0.0 0.0 0.3 0.2 0.3 0.4 0.6 0.9 0.1 9

 10 Miscellaneous assets 0.0 0.0 0.0 -0.3 -0.6 -1.1 -1.0 -1.8 -2.6 0.2 10

 11 Net increase in liabilities 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.5 0.6 0.2 11

 12 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Debt securities 0.0 0.0 0.0 0.0 0.0 0.1 0.9 2.5 0.9 -3.2 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.8 2.5 0.7 -3.3 14

 15 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.0 15

 16 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 16

 17 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 17

 18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 -0.0 -0.7 -2.1 -0.5 3.2 19

 Memo:

 20 Securitized assets included above 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24
Flo

ws

38 Historical Annuals, 1965-1974, March 10, 2016

F.129 Security Brokers and Dealers

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.2 0.2 0.3 0.4 0.1 -0.1 0.2 0.3 0.5 0.5 1

 2 Fixed nonresidential investment 0.2 0.2 0.2 0.3 0.4 0.5 0.6 0.6 0.8 0.8 2

 3 Net acquisition of financial assets 0.5 0.9 3.4 3.8 -3.1 0.8 1.4 5.3 -2.6 -2.0 3

 4 Checkable deposits and currency 0.0 0.1 0.2 0.5 -0.1 -0.3 0.0 -0.0 -0.2 -0.1 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities -0.2 0.8 -0.3 0.6 0.1 2.3 -1.4 1.3 1.6 0.2 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.0 1.0 7

 8 Treasury securities -0.3 0.7 -0.8 0.8 -0.0 1.7 -1.6 0.2 -0.0 0.2 8

 9 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Municipal securities -0.2 0.0 0.0 0.0 -0.2 0.6 0.1 -0.1 0.2 -0.4 10

 11 Corporate and foreign bonds 0.3 0.1 0.4 -0.2 0.4 0.1 0.1 0.2 0.4 -0.6 11

 12 Loans (other loans and advances) 0.4 -0.0 3.2 2.8 -3.5 -1.3 2.6 3.7 -4.3 -1.6 12

 13 Corporate equities 0.2 0.3 0.1 -0.3 0.6 -0.0 -0.1 0.1 0.6 0.1 13

 14 U.S. direct investment abroad 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Miscellaneous assets 0.0 -0.2 0.2 0.1 -0.2 0.1 0.2 0.1 -0.3 -0.7 15

 16 Net increase in liabilities 0.4 0.9 3.2 3.5 -3.1 1.0 1.2 5.2 -2.7 -1.7 16

 17 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Debt securities (corporate bonds) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Loans 0.4 0.8 3.2 3.5 -3.0 1.0 1.1 4.1 -3.4 -2.9 19

 20 Depository institution loans n.e.c. (1) -0.2 0.6 0.9 0.7 -0.8 0.1 1.1 5.1 -4.3 -2.8 20

 21 Other loans and advances 0.5 0.2 2.2 2.7 -2.2 0.9 0.0 -1.0 0.9 -0.1 21

 22 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.3 0.3 22

 23 Trade payables 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 23

 24 Taxes payable 0.0 0.0 0.1 0.0 -0.1 0.0 -0.0 0.0 -0.0 -0.1 24

 25 Foreign direct investment in U.S. -0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.3 25

 26 Miscellaneous liabilities -0.0 -0.0 -0.0 -0.1 -0.1 -0.0 -0.1 0.8 -0.2 -0.1 26

 27 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.3 2.0 27

 28 Other -0.0 -0.0 -0.0 -0.1 -0.1 -0.0 -0.1 0.8 -3.5 -2.1 28

 29 Proprietors’ net investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.8 29

 30 Discrepancy -0.2 -0.0 -0.2 -0.2 -0.2 -0.4 -0.5 -0.4 -0.3 -0.0 30

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 39

F.130 Holding Companies (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross saving 0.5 0.6 0.6 0.7 0.8 0.9 1.1 1.2 1.4 1.6 1

 2 Fixed nonresidential investment 1.1 1.2 1.3 1.4 1.6 1.8 2.2 2.6 3.0 3.6 2

 3 Net acquisition of financial assets 0.0 0.0 0.0 0.0 8.7 6.0 4.2 8.7 15.4 6.3 3

 4 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Loans (other loans and advances) 0.0 0.0 0.0 0.0 3.9 -1.0 -0.1 -0.2 1.7 0.9 10

 11 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Miscellaneous assets 0.0 0.0 0.0 0.0 4.7 7.0 4.3 8.9 13.7 5.3 12

 13 Net trans. with depository institution subs. 0.0 0.0 0.0 0.0 4.0 6.0 5.0 6.0 1.5 6.0 13

 14 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Net trans. with life insurance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net trans. with finance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.6 2.4 0.6 -0.3 16

 17 Net trans. with broker and dealer subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.3 2.0 17

 18 Net trans. with foreign subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.5 1.0 18

 19 Other 0.0 0.0 0.0 0.0 0.7 1.0 -1.2 0.5 5.8 -3.3 19

 20 Net increase in liabilities 0.0 0.0 0.0 0.0 8.7 6.0 4.3 8.7 15.4 6.3 20

 21 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Debt securities 0.0 0.0 0.0 0.0 4.3 -0.8 0.8 2.6 3.2 4.4 22

 23 Commercial paper 0.0 0.0 0.0 0.0 4.3 -1.9 -0.4 0.7 2.2 3.5 23

 24 Corporate bonds 0.0 0.0 0.0 0.0 0.0 1.1 1.1 1.9 0.9 1.0 24

 25 Loans (depository institution loans n.e.c.) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 25

 26 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Miscellaneous liabilities 0.0 0.0 0.0 0.0 4.4 6.9 3.5 6.1 12.3 1.1 27

 28 Equity, etc. 0.0 0.0 0.0 0.0 4.0 5.7 1.5 7.1 10.2 4.2 28

 29 Other 0.0 0.0 0.0 0.0 0.4 1.2 2.0 -0.9 2.1 -3.1 29

 30 Discrepancy -0.6 -0.7 -0.6 -0.7 -0.8 -0.9 -1.1 -1.4 -1.5 -1.9 30

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
Flo

ws

40 Historical Annuals, 1965-1974, March 10, 2016

F.131 Funding Corporations (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net acquisition of financial assets 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 1

 2 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 4

 5 Open market paper 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 5

 6 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Investment in foreign banking offices 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Investment in brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Net increase in liabilities 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 12

 13 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Corporate equities (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Miscellaneous liabilities 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 21

 22 Securities loaned (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Other (net) 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 24

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities, and funds associated with

 the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 41

F.132 Rest of the World

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Foreign income from U.S. 38.9 45.2 48.7 56.5 62.1 68.8 76.7 91.2 109.9 150.5 1

 2 U.S. imports 31.5 37.1 39.9 46.6 50.5 55.8 62.3 74.2 91.2 127.5 2

 3 U.S. income payments to rest of world 2.6 3.0 3.3 4.0 5.7 6.4 6.4 7.7 10.9 14.3 3

 4 Curr. taxes and trans. payments to rest of world 4.7 5.1 5.5 5.9 5.9 6.6 7.9 9.2 7.9 8.7 4

 5 Foreign outlays to U.S. 45.0 49.0 52.1 58.0 63.7 72.5 77.0 87.1 118.8 156.5 5

 6 U.S. exports 37.1 40.9 43.5 47.9 51.9 59.7 63.0 70.8 95.3 126.7 6

 7 U.S. income receipts from rest of world 7.9 8.1 8.7 10.1 11.8 12.8 14.0 16.3 23.5 29.8 7

 8 Curr. taxes and trans. payments from rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 - Net capital transfers paid (1) 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 9

 10 Gross saving less net capital transfers paid (2) -6.2 -3.8 -3.5 -1.5 -1.6 -3.7 -0.3 4.1 -8.8 -5.9 10

 11 Gross investment -4.6 -2.9 -2.0 -0.6 7.6 0.3 14.1 6.5 -10.1 -4.2 11

 12 Nonproduced nonfinancial assets 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Net lending (+) or net borrowing (-) -4.6 -2.9 -2.0 -0.6 7.6 0.3 14.1 6.5 -10.1 -4.2 13

 14 Net acquisition of financial assets 3.4 5.1 8.5 11.2 17.7 10.0 26.5 20.4 13.4 23.5 14

 15 Monetary gold (3) 1.7 0.6 1.2 1.2 -1.0 0.8 0.9 0.5 0.0 0.0 15

 16 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 0.7 0.7 0.0 0.0 16

 17 Net interbank assets 0.1 2.9 0.6 2.1 12.3 -6.4 -4.6 -0.7 -2.7 -0.2 17

 18 U.S. checkable deposits and currency 0.3 0.7 0.6 0.9 0.8 1.0 0.3 2.2 3.8 3.8 18

 19 U.S. time deposits 0.6 0.3 1.3 -0.3 1.4 -1.7 0.3 2.9 2.8 7.7 19

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

 21 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.0 21

 22 Debt securities 0.5 -0.1 2.8 2.6 0.6 11.8 27.9 10.3 1.5 4.9 22

 23 Open market paper 0.4 0.2 0.0 0.6 1.0 0.5 -0.2 -0.1 0.3 0.4 23

 24 Treasury securities -0.3 -1.9 2.1 -0.7 -2.3 9.5 26.6 8.2 -0.2 4.0 24

 25 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 14.4 -1.2 0.0 3.3 25

 26 Other Treasury securities -0.3 -1.9 2.1 -0.7 -2.3 9.5 12.2 9.4 -0.2 0.6 26

 27 Agency- and GSE-backed securities 0.3 0.3 0.3 0.3 0.3 0.3 0.0 0.1 0.1 -0.5 27

 28 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 U.S. corporate bonds (4) 0.0 1.2 0.3 2.3 1.6 1.5 1.5 2.1 1.3 1.0 29

 30 Loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 30

 31 U.S. corporate equities -0.4 -0.3 0.7 2.1 1.6 0.7 0.8 2.4 2.8 0.2 31

 32 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Trade receivables 0.3 0.6 0.8 1.8 0.8 1.5 -0.2 1.1 1.9 2.1 33

 34 Foreign direct investment in U.S. (5) 0.4 0.4 0.7 0.8 1.3 1.5 0.4 0.9 2.8 4.8 34

 35 Net increase in liabilities 8.0 8.0 10.5 11.8 10.2 9.7 12.4 13.9 23.5 27.8 35

 36 U.S. official reserve assets 0.4 0.0 1.1 2.0 0.2 -1.7 -1.5 0.6 -0.2 1.5 36

 37 U.S. private deposits -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 37

 38 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Debt securities 0.5 0.7 1.2 1.1 1.0 0.9 0.9 1.0 1.0 2.6 39

 40 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 40

 41 Bonds 0.5 0.7 1.2 1.1 1.0 0.9 0.9 1.0 1.0 2.4 41

 42 Loans 2.1 1.3 2.5 1.7 2.2 1.9 4.1 3.4 5.3 11.4 42

 43 Depository institution loans n.e.c. 0.6 -0.1 -0.4 -0.4 -0.3 -0.2 2.0 3.0 2.7 4.7 43

 44 Other loans and advances 1.5 1.3 2.9 2.1 2.4 2.1 2.1 0.4 2.6 6.7 44

 45 Foreign corporate equities (6) 0.3 -0.0 0.1 0.5 0.5 0.2 0.2 -0.4 -0.3 -0.5 45

 46 Trade payables -0.0 0.3 0.7 0.6 0.6 1.0 0.6 0.6 1.7 3.0 46

 47 U.S. direct investment abroad (4,5) 5.0 5.4 4.8 5.3 6.0 7.6 7.6 7.7 11.4 9.1 47

 48 Miscellaneous liabilities 0.0 0.2 -0.0 0.1 0.1 0.2 0.1 0.1 3.5 1.0 48

 49 U.S. equity in IBRD, etc. 0.0 -0.1 0.2 0.1 0.2 0.2 0.2 0.3 0.4 0.5 49

 50 Nonofficial foreign currencies 0.0 0.3 -0.2 -0.1 -0.1 0.0 -0.2 -0.2 0.6 -0.5 50

 51 Investment by holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.5 1.0 51

 52 Discrepancy (FOF basis) -1.5 -0.9 -1.5 -0.9 -9.2 -4.0 -14.4 -2.4 1.3 -1.7 52

 Memo:

 53 Net U.S. exports, NIPA basis 5.6 3.9 3.6 1.3 1.4 3.9 0.6 -3.4 4.1 -0.8 53

 54 + Net U.S. income receipts (7) 5.3 5.1 5.4 6.1 6.1 6.4 7.6 8.6 12.6 15.5 54

 55 - Curr. taxes and trans. payments to rest of world 4.7 5.1 5.5 5.9 5.9 6.6 7.9 9.2 7.9 8.7 55

 56 + Curr. taxes and trans. payments from rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

 57 = Balance on current account, NIPAs 6.2 3.8 3.5 1.5 1.6 3.7 0.3 -4.0 8.9 6.0 57

(1) Table F.5, line 64.

(2) Line 1 minus line 5 minus line 8; equals net lending (+) or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 54 with the sign reversed minus line 8.

(3) U.S. net sales, sign reversed.

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

(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
Flo

ws

42 Historical Annuals, 1965-1974, March 10, 2016

F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 0.4 0.0 1.1 2.0 0.2 -0.8 -0.8 1.3 -0.2 1.5 1

 2 Federal government: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 0.7 0.7 0.0 0.0 2

 3 Rest of the world 0.4 0.0 1.1 2.0 0.2 -1.7 -1.5 0.6 -0.2 1.5 3

 4 SDR holdings 0.0 0.0 0.0 0.0 0.0 0.9 0.2 0.7 -0.0 0.2 4

 5 Reserve position in IMF 0.1 -0.5 0.1 0.9 1.0 -0.4 -1.4 -0.2 0.0 1.3 5

 6 Other reserves 0.3 0.5 1.0 1.2 -0.8 -2.2 -0.4 0.0 -0.2 0.0 6

 7 Net change in assets 0.4 0.0 1.1 2.0 0.2 -0.8 -0.8 1.3 -0.2 1.5 7

 8 Federal government 0.3 -0.3 0.6 1.9 1.6 -1.8 -1.6 0.6 -0.1 1.4 8

 9 Monetary gold (2) -0.0 0.0 0.0 0.4 1.0 -1.2 -0.3 -0.0 0.0 -0.1 9

 10 SDR holdings 0.0 0.0 0.0 0.0 0.0 0.9 0.2 0.7 -0.0 0.2 10

 11 Reserve position in IMF 0.1 -0.5 0.1 0.9 1.0 -0.4 -1.3 -0.2 0.0 1.3 11

 12 Other reserves 0.2 0.3 0.5 0.6 -0.4 -1.1 -0.2 0.0 -0.1 0.0 12

 13 Rest of the world 1.7 0.6 1.2 1.2 -1.0 1.7 1.6 1.3 0.0 0.0 13

 14 Monetary gold (2) 1.7 0.6 1.2 1.2 -1.0 0.8 0.9 0.5 0.0 0.0 14

 15 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 0.7 0.7 0.0 0.0 15

 16 Monetary authority -1.5 -0.3 -0.7 -1.0 -0.4 -0.7 -0.8 -0.5 -0.1 0.1 16

 17 Monetary gold (2) -1.7 -0.6 -1.2 -1.6 0.0 0.4 -0.6 -0.5 0.0 0.1 17

 18 Reserve position in IMF -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 18

 19 Other reserves 0.2 0.3 0.5 0.6 -0.4 -1.1 -0.2 0.0 -0.1 0.0 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government 0.2 0.9 0.7 0.4 0.3 0.2 0.5 0.5 0.4 0.4 3

 4 Asset: Monetary authority 0.2 0.7 0.5 0.2 0.1 0.3 0.5 0.7 0.4 0.5 4

 5 Discrepancy (seigniorage) 0.1 0.2 0.2 0.2 0.2 -0.1 0.0 -0.2 0.0 -0.1 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 1

 Held by:

 2 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Nonfinancial corporate business -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 3

 4 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Discrepancy--unallocated assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 43

F.203 Net Interbank Transactions

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 0.6 6.7 2.3 6.4 13.1 -3.8 -2.8 -6.1 -0.2 -0.7 1

 2 Monetary authority 0.7 1.9 1.8 2.0 0.3 1.8 4.1 -1.0 3.5 -0.3 2

 3 U.S.-chartered depository institutions 0.1 4.4 1.0 4.2 11.7 -4.1 -6.5 -6.4 -5.1 -5.3 3

 4 Foreign banking offices in U.S. -0.2 0.3 -0.1 0.0 0.6 -0.8 0.7 2.1 1.3 5.3 4

 5 Banks in U.S.-affiliated areas 0.0 -0.0 -0.1 -0.0 -0.0 -0.1 -0.1 -0.2 -0.3 0.2 5

 6 Credit unions -0.0 0.1 -0.3 0.2 0.5 -0.6 -1.0 -0.7 0.4 -0.6 6

 7 Net change in assets 0.4 5.1 2.3 5.2 12.6 -3.6 -0.7 -0.2 -0.8 -2.6 7

 8 Monetary authority -0.4 0.3 -0.1 1.0 -0.0 1.0 -0.2 1.6 -1.6 -2.1 8

 9 U.S.-chartered depository institutions 0.7 1.9 1.8 2.0 0.3 1.8 4.1 -1.0 3.5 -0.3 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

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

 12 Rest of the world 0.1 2.9 0.6 2.1 12.3 -6.4 -4.6 -0.7 -2.7 -0.2 12

 13 Discrepancy 0.1 1.5 -0.0 1.2 0.6 -0.2 -2.1 -5.9 0.6 1.8 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 0.3 0.6 0.5 1.3 0.1 -0.3 0.5 1.1 2.0 1.0 14

 15 Asset: U.S.-chartered depository institutions 0.3 0.6 0.5 1.3 0.1 -0.3 0.5 1.1 2.0 1.0 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority 0.4 1.3 1.3 0.8 0.2 2.1 3.6 -2.1 1.4 -1.2 17

 18 Asset: U.S.-chartered depository institutions 0.4 1.3 1.3 0.8 0.2 2.1 3.6 -2.1 1.4 -1.2 18

 19 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions -0.4 0.3 -0.1 1.0 -0.0 1.0 -0.2 1.6 -1.6 -2.1 21

 22 Asset: Monetary authority -0.4 0.3 -0.1 1.0 -0.0 1.0 -0.2 1.6 -1.6 -2.1 22

 23 Federal Reserve float -0.4 0.3 -0.0 1.0 -0.0 0.8 0.1 -0.4 -0.9 -1.1 23

 24 Loans -0.1 0.1 -0.0 0.0 -0.0 0.2 -0.3 1.9 -0.7 -1.0 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) 0.3 2.7 0.2 1.8 11.3 -6.0 -4.9 -0.5 -0.9 -1.6 25

 26 Due to foreign affiliates 0.3 2.7 0.2 1.8 11.4 -6.0 -4.9 -0.2 -0.2 2.6 26

 27 - Due from foreign affiliates 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 0.3 0.6 4.2 27

 28 Foreign banking offices in U.S. (net) -0.2 0.2 0.4 0.4 1.0 -0.2 0.5 0.1 -1.5 2.2 28

 29 Due to foreign affiliates -0.2 0.3 0.5 0.5 1.2 0.2 0.7 0.5 -0.3 4.5 29

 30 - Due from foreign affiliates 0.0 0.1 0.1 0.2 0.2 0.5 0.2 0.4 1.2 2.3 30

 31 Less: Deposits at foreign banks -0.1 0.0 0.1 0.0 0.0 0.1 0.2 0.3 0.3 0.9 31

 32 U.S.-chartered depository institutions -0.1 -0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.0 0.6 32

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

 34 Plus: Loans from foreign banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Asset: Rest of the world (1) 0.1 2.9 0.6 2.1 12.3 -6.4 -4.6 -0.7 -2.7 -0.2 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) 0.2 1.4 0.9 1.3 0.5 1.1 -1.2 -7.2 -2.6 -1.0 38

 39 Due to (3): 0.2 1.4 0.8 1.4 0.6 1.3 -0.1 -5.3 1.8 3.7 39

 40 Foreign banking offices in U.S. 0.0 0.0 0.5 0.4 0.5 0.8 0.8 -0.2 1.3 1.5 40

 41 Banks in U.S.-affiliated areas -0.0 0.0 0.1 0.0 0.0 0.1 0.1 0.2 0.3 -0.2 41

 42 Credit unions 0.0 -0.1 0.3 -0.2 -0.5 0.6 1.0 0.7 -0.4 0.6 42

 43 - Due from: Foreign banking offices in U.S. 0.0 0.1 -0.0 0.1 0.2 0.3 1.1 1.9 4.4 4.8 43

 44 Unallocated (2) 0.1 1.5 -0.0 1.2 0.6 -0.2 -2.1 -5.9 0.6 1.8 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
Flo

ws

44 Historical Annuals, 1965-1974, March 10, 2016

F.204 Checkable Deposits and Currency

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 7.3 4.5 15.3 15.1 8.1 12.8 18.0 24.4 16.6 7.0 1

 2 Monetary authority 1.9 2.4 2.9 1.5 3.3 3.1 4.5 3.1 3.4 6.9 2

 3 Federal government cash and deposits -0.2 0.2 0.9 -1.1 0.6 -0.4 0.9 -1.1 -0.5 0.4 3

 4 Due to government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Deposits due to foreign -0.1 0.2 -0.0 0.1 -0.1 -0.0 0.1 -0.1 -0.1 0.2 5

 6 Currency outside banks 2.1 2.0 2.0 2.5 2.8 3.5 3.5 4.3 3.9 6.3 6

 7 U.S.-chartered depository institutions 5.5 1.6 12.0 12.2 4.7 5.2 13.0 24.3 12.7 -1.2 7

 8 Federal government deposits -1.0 -0.5 0.2 -0.2 0.0 2.9 2.2 0.7 -1.0 -5.1 8

 9 Deposits due to foreign 0.2 0.2 0.3 0.3 0.4 0.5 -0.5 1.4 2.2 2.1 9

 10 Private domestic deposits 6.3 2.0 11.5 12.1 4.3 1.7 11.3 22.2 11.4 1.8 10

 11 Foreign banking offices in U.S. -0.2 0.2 0.1 1.1 -0.0 4.2 0.2 -3.3 0.3 1.2 11

 12 Deposits due to foreign 0.0 -0.0 0.0 0.2 0.1 0.0 0.2 0.3 0.7 0.5 12

 13 Private domestic deposits -0.2 0.2 0.1 0.9 -0.1 4.2 -0.0 -3.6 -0.5 0.6 13

 14 Banks in U.S.-affiliated areas 0.1 0.3 0.3 0.3 0.1 0.3 0.4 0.3 0.3 0.0 14

 15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net change in assets 7.3 4.5 15.3 15.1 8.1 12.8 18.0 24.4 16.6 7.0 16

 17 Household sector 6.7 1.9 10.2 9.0 -1.8 7.6 13.5 13.7 12.1 5.2 17

 18 Nonfinancial business 0.4 -0.7 2.7 2.9 5.7 1.1 -1.3 2.6 2.0 1.2 18

 19 Corporate 0.3 -0.7 2.5 2.7 5.6 1.0 -1.5 2.4 1.4 1.2 19

 20 Noncorporate 0.1 -0.0 0.1 0.2 0.1 0.1 0.1 0.3 0.6 0.1 20

 21 Federal government -1.6 -0.4 0.5 -2.3 1.6 3.5 3.5 -1.0 -1.8 -4.6 21

 22 State and local governments -0.6 0.5 0.8 -0.7 1.9 -1.0 0.8 0.5 0.0 0.2 22

 23 Domestic financial sectors 0.2 0.1 0.3 0.9 -0.1 0.2 0.7 1.1 0.6 0.7 23

 24 Property-casualty insurance companies -0.1 0.0 -0.0 0.1 -0.0 0.1 0.1 0.0 -0.0 0.1 24

 25 Life insurance companies 0.0 0.0 0.0 0.1 -0.0 0.1 0.0 0.2 0.1 -0.1 25

 26 Private pension funds 0.0 -0.2 0.1 0.1 0.0 0.1 0.2 0.5 0.7 0.9 26

 27 State and local govt. retirement funds 0.0 0.1 -0.1 0.1 -0.1 0.1 0.2 0.2 -0.2 -0.3 27

 28 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Government-sponsored enterprises -0.0 0.0 0.0 0.0 0.0 -0.0 0.1 -0.0 0.1 -0.0 29

 30 Finance companies 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 30

 31 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Brokers and dealers 0.0 0.1 0.2 0.5 -0.1 -0.3 0.0 -0.0 -0.2 -0.1 32

 33 Rest of the world 0.3 0.7 0.6 0.9 0.8 1.0 0.3 2.2 3.8 3.8 33

 34 Checkable deposits 0.1 0.4 0.3 0.6 0.3 0.5 -0.2 1.6 2.9 2.8 34

 35 Currency 0.1 0.3 0.2 0.3 0.5 0.5 0.5 0.6 0.9 1.0 35

 36 Mail float 1.9 2.3 0.2 4.5 -0.0 0.4 0.5 5.3 -0.1 0.4 36
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 45

F.205 Time and Savings Deposits

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 33.2 20.3 40.6 33.3 -0.7 54.9 81.8 88.4 78.4 77.9 1

 2 Small time and savings deposits 27.3 18.0 34.7 26.6 14.4 30.6 68.4 70.7 39.4 36.9 2

 3 U.S.-chartered depository institutions 26.3 17.2 33.7 25.4 12.5 28.8 65.4 67.4 36.3 33.8 3

 4 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.1 0.1 4

 5 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.1 0.1 0.0 5

 6 Credit unions 1.0 0.8 1.0 1.2 1.4 1.7 2.9 3.3 2.9 3.0 6

 7 Large time deposits (1) 5.9 2.3 5.9 6.7 -15.1 24.2 13.5 17.7 39.1 41.0 7

 8 U.S.-chartered depository institutions 5.8 2.3 5.8 6.6 -15.8 23.8 13.2 18.0 38.1 39.9 8

 9 Foreign banking offices in U.S. 0.1 0.0 0.1 0.1 0.2 0.3 0.2 -0.3 0.8 1.0 9

 10 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.5 0.1 0.1 0.1 0.1 0.0 10

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

 12 Net change in assets 33.2 20.3 40.6 33.3 -0.7 54.9 81.8 88.4 78.4 77.9 12

 13 Household sector 27.5 18.6 35.2 30.2 8.6 42.2 67.5 73.3 60.6 55.4 13

 14 Nonfinancial business 2.3 -0.4 1.1 -0.6 -5.4 3.1 5.8 4.0 6.3 5.4 14

 15 Corporate 2.3 -0.4 1.1 -0.6 -5.4 1.7 4.2 2.4 4.7 3.8 15

 16 Noncorporate 0.0 0.0 0.0 0.0 0.0 1.4 1.6 1.6 1.6 1.6 16

 17 Federal government -0.0 -0.0 0.0 0.1 -0.2 0.3 0.1 0.1 -0.2 0.0 17

 18 State and local governments 2.4 1.3 2.3 3.1 -5.8 10.0 7.2 6.7 6.6 5.0 18

 19 Domestic financial sectors 0.5 0.5 0.8 0.8 0.7 1.0 1.0 1.3 2.2 4.4 19

 20 Private pension funds 0.4 0.5 0.6 0.7 0.7 0.9 1.0 1.2 1.5 1.9 20

 21 State and local govt. retirement funds 0.0 0.0 0.2 0.1 -0.1 0.0 -0.1 0.0 0.6 0.7 21

 22 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.6 22

 23 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Finance companies 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 24

 25 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Rest of the world 0.6 0.3 1.3 -0.3 1.4 -1.7 0.3 2.9 2.8 7.7 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Net issues 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 1

 2 Net purchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 2

 3 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 3

 4 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12
Flo

ws

46 Historical Annuals, 1965-1974, March 10, 2016

F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 0.5 0.4 2.1 2.5 7.3 1.9 8.0 10.2 16.0 13.8 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 U.S.-chartered depository institutions 0.5 0.4 2.2 2.5 7.2 1.9 7.6 9.9 14.6 13.0 3

 4 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 4

 5 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 5

 6 Foreign banking offices in U.S. -0.0 0.0 -0.0 0.0 0.0 0.0 0.4 0.3 1.4 0.9 6

 7 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 7

 8 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 8

 9 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Net change in assets 2.1 3.0 0.3 1.7 10.4 -0.0 6.8 8.1 19.3 6.4 17

 18 Nonfinancial corporate business 0.3 0.3 -0.2 0.5 2.2 -3.1 0.8 1.6 8.6 -5.8 18

 19 State and local governments 1.1 1.5 -0.5 -1.5 3.9 -4.0 0.6 -0.1 1.4 -1.8 19

 20 Monetary authority -0.2 0.4 -0.5 -0.3 0.0 0.0 1.5 -1.4 -0.0 1.3 20

 21 U.S.-chartered depository institutions 0.7 0.4 1.5 2.7 3.5 6.4 4.5 6.5 5.5 13.2 21

 22 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 22

 23 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 23

 24 Foreign banking offices in U.S. -0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 0.3 0.3 0.1 24

 25 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 25

 26 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 26

 27 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Federal funds ND ND ND ND ND ND ND ND ND ND 28

 29 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 29

 30 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Private pension funds 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.8 0.4 0.5 32

 33 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 34

 35 Mutual funds 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 35

 36 Government-sponsored enterprises -0.0 0.0 -0.0 0.0 0.2 0.8 -0.6 0.4 2.3 -1.0 36

 37 Of which: FHLB federal funds (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.0 41

 42 Discrepancy -1.6 -2.6 1.8 0.8 -3.2 2.0 1.2 2.1 -3.3 7.4 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations: (4)

 43 Liability: Monetary authority (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Asset: Money market mutual funds (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Other financial institutions (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

(1) Detailed data on federal funds and security repurchase agreements are only available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 2010:Q4 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(5) Included in line 2.

(6) Included in line 34.

(7) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 47

F.208 Debt Securities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 By instrument

 1 Total debt securities 19.7 33.8 42.6 44.9 46.1 61.6 74.2 62.9 68.9 97.9 1

 2 Open market paper 0.9 4.6 4.2 4.2 12.5 2.1 -0.1 1.6 8.4 17.8 2

 3 Treasury securities 2.5 3.6 10.2 10.8 0.7 15.5 28.8 17.2 8.7 14.9 3

 4 Agency- and GSE-backed securities 2.6 6.9 4.3 6.9 7.4 8.8 4.9 9.3 20.4 21.0 4

 5 Municipal securities 7.2 6.2 7.2 8.4 11.4 12.0 16.2 14.2 16.0 15.3 5

 6 Corporate and foreign bonds 6.5 12.5 16.8 14.6 14.0 23.2 24.5 20.6 15.5 29.0 6

 By sector

 7 Total liabilities 19.7 33.8 42.6 44.9 46.1 61.6 74.2 62.9 68.9 97.9 7

 8 Domestic nonfinancial sectors 14.7 22.2 37.5 36.5 22.9 48.0 61.9 45.2 35.7 53.8 8

 9 Household sector (nonprofits) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.9 9

 10 Nonfinancial corporate business 4.5 11.0 16.1 14.1 13.1 21.5 18.0 13.5 12.4 25.4 10

 11 Federal government 2.9 4.9 14.3 13.9 -1.6 14.5 27.8 18.1 9.2 14.7 11

 12 State and local governments 7.2 6.2 7.2 8.4 11.4 12.0 16.1 13.6 13.8 12.8 12

 13 Domestic financial sectors 4.6 10.8 3.8 7.3 22.1 12.6 11.4 16.7 32.3 41.5 13

 14 U.S.-chartered depository institutions 0.8 0.3 0.8 0.3 0.6 1.4 1.5 0.3 1.6 7.9 14

 15 Foreign banking offices in U.S. 0.0 0.0 0.1 0.0 0.2 0.3 0.2 -0.2 0.4 1.9 15

 16 Government-sponsored enterprises 1.9 5.1 -0.6 3.2 9.1 8.2 1.1 3.5 16.3 16.6 16

 17 Agency- and GSE-backed mortgage pools 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 17

 18 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Finance companies 1.6 5.0 2.7 3.2 7.1 1.5 1.9 2.7 5.9 9.2 19

 20 REITs 0.0 0.0 0.0 0.0 0.1 0.5 1.2 2.8 1.3 -3.1 20

 21 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Holding companies 0.0 0.0 0.0 0.0 4.3 -0.8 0.8 2.6 3.2 4.4 22

 23 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Rest of the world 0.5 0.7 1.2 1.1 1.0 0.9 0.9 1.0 1.0 2.6 24

 25 Total assets: 19.7 33.8 42.6 44.9 46.1 61.6 74.2 62.9 68.9 97.9 25

 26 Domestic nonfinancial sectors 4.6 17.9 1.6 12.3 39.2 -0.7 -3.7 3.3 30.1 50.1 26

 27 Household sector 3.3 18.0 3.2 5.9 37.3 0.2 -6.5 -4.1 24.9 38.9 27

 28 Nonfinancial corporate business -1.1 -1.2 -1.7 2.4 -1.5 1.3 5.4 1.9 -2.9 7.0 28

 29 Nonfinancial noncorporate business 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.2 0.1 0.1 29

 30 Federal government 0.0 1.3 -0.1 0.1 -1.3 -0.1 0.0 -0.0 -0.0 -0.0 30

 31 State and local governments 2.3 -0.2 0.0 3.6 4.5 -2.3 -2.8 5.3 8.0 4.1 31

 32 Domestic financial sectors 14.6 16.0 38.3 30.0 6.3 50.4 50.1 49.3 37.4 42.9 32

 33 Monetary authority 4.0 3.2 5.3 3.9 4.2 5.0 7.4 1.6 9.3 4.9 33

 34 U.S.-chartered depository institutions 1.6 -0.7 23.5 14.0 -9.4 26.8 30.1 20.4 1.4 6.8 34

 35 Foreign banking offices in U.S. 0.1 0.0 0.4 -0.0 0.2 0.7 -0.7 0.4 0.4 0.9 35

 36 Banks in U.S.-affiliated areas 0.0 0.1 0.1 0.1 0.1 0.0 0.2 0.3 -0.0 -0.0 36

 37 Credit unions 0.0 0.1 0.1 0.2 0.3 0.3 0.2 0.5 0.5 0.4 37

 38 Property-casualty insurance companies 1.0 1.5 1.4 1.9 1.6 3.8 3.8 3.7 3.5 4.6 38

 39 Life insurance companies 2.2 2.1 3.6 3.6 2.4 2.4 6.0 7.3 5.7 5.4 39

 40 Private pension funds 1.3 2.3 0.7 1.1 0.6 2.1 -1.1 6.5 6.6 8.9 40

 41 Federal government retirement funds 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 41

 42 State and local govt. retirement funds 2.3 2.9 2.8 3.0 3.6 3.8 2.9 4.4 5.0 5.7 42

 43 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 43

 44 Mutual funds 0.7 1.3 -0.8 -0.2 1.0 0.6 -0.2 0.5 0.6 0.8 44

 45 Closed-end funds 0.0 -0.0 0.1 0.4 -0.0 -0.7 0.6 0.3 0.5 -0.2 45

 46 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Government-sponsored enterprises 0.1 0.9 0.0 -0.1 -0.6 1.1 -0.5 -0.8 -0.2 1.3 47

 48 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

 51 Brokers and dealers -0.2 0.8 -0.3 0.6 0.1 2.3 -1.4 1.3 1.6 0.2 51

 52 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

 53 Funding corporations 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 53

 54 Rest of the world 0.5 -0.1 2.8 2.6 0.6 11.8 27.9 10.3 1.5 4.9 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.
Flo

ws

48 Historical Annuals, 1965-1974, March 10, 2016

F.209 Open Market Paper

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total net issues, all types 0.9 4.6 4.2 4.2 12.5 2.1 -0.1 1.6 8.4 17.8 1

 2 Commercial paper 0.9 4.3 3.4 4.1 11.4 0.5 -0.9 2.6 6.4 8.1 2

 3 Nonfinancial corporate business -0.3 0.8 1.4 1.2 1.1 1.8 -0.9 0.7 1.4 4.1 3

 4 Foreign issues in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 4

 5 Nonfinancial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 5

 6 Financial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Domestic financial sectors 1.2 3.5 2.0 2.9 10.3 -1.3 -0.1 1.9 4.9 3.8 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Finance companies 1.2 3.5 2.0 2.9 6.0 0.6 -0.5 -1.3 2.0 3.6 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.8 2.5 0.7 -3.3 11

 12 Holding companies 0.0 0.0 0.0 0.0 4.3 -1.9 -0.4 0.7 2.2 3.5 12

 13 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Bankers’ acceptances (1) 0.0 0.2 0.7 0.1 1.0 1.6 0.8 -1.0 2.0 9.7 14

 15 U.S.-chartered depository institutions 0.0 0.2 0.6 0.1 0.8 1.3 0.7 -0.8 1.6 7.8 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.1 0.0 0.2 0.3 0.2 -0.2 0.4 1.9 16

 17 Net purchases, by sector 0.9 4.6 4.2 4.2 12.5 2.1 -0.1 1.6 8.4 17.8 17

 18 Household sector 0.9 2.3 1.8 2.0 6.4 -2.0 -2.8 -4.4 4.8 5.9 18

 19 Nonfinancial corporate business -0.3 1.5 1.1 1.1 2.5 1.8 1.9 3.0 0.6 4.1 19

 20 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Monetary authority 0.0 -0.0 0.0 -0.0 0.0 -0.0 0.0 -0.0 -0.0 0.5 21

 22 U.S.-chartered depository institutions (1) -0.6 -0.1 0.9 -0.0 0.4 1.0 0.4 -0.1 -0.7 0.8 22

 23 Foreign banking offices in U.S. (1) 0.0 0.1 0.0 0.1 0.2 0.4 0.1 0.1 0.2 0.7 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Life insurance companies 0.0 0.1 0.1 0.0 0.8 0.8 0.6 0.2 0.0 1.1 26

 27 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 1.3 2.3 27

 28 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 29

 30 Mutual funds 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 30

 31 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 -0.2 0.9 31

 32 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.0 1.0 32

 33 Funding corporations 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 33

 34 Rest of the world 0.4 0.2 0.0 0.6 1.0 0.5 -0.2 -0.1 0.3 0.4 34

(1) Excludes banks’ holdings of own acceptances.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 49

F.210 Treasury Securities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 2.5 3.6 10.2 10.8 0.7 15.5 28.8 17.2 8.7 14.9 1

 2 Marketable Treasury securities 0.3 1.1 8.8 8.8 -1.0 12.9 23.7 11.0 3.9 11.0 2

 3 Treasury bills 3.7 10.4 -0.7 5.1 5.6 7.4 9.6 6.4 3.9 12.0 3

 4 Other Treasury notes, bonds, and TIPS -3.4 -9.3 9.5 3.6 -6.5 5.6 14.2 4.7 0.0 -2.5 4

 5 Held in the Civil Service Retirement Fund (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 5

 6 Nonmarketable Treasury securities 2.2 2.4 1.4 2.0 1.7 2.5 5.1 6.2 4.8 3.9 6

 7 U.S. savings securities 0.6 0.6 1.0 0.6 -0.1 0.3 2.3 3.3 2.7 3.0 7

 8 State and local government series (SLGS) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Thrift Savings Plan G Fund 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Federal govt. defined benefit pension plans 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 1.2 10

 11 Other nonmarketable securities 0.3 0.6 -0.9 0.0 0.3 -0.2 -0.1 -0.1 -0.0 -0.3 11

 12 Total assets 2.5 3.6 10.2 10.8 0.7 15.5 28.8 17.2 8.7 14.9 12

 13 Household sector 1.2 4.3 -0.1 2.7 11.4 -10.1 -8.8 3.2 11.1 6.6 13

 14 U.S. savings securities (line 7) 0.6 0.6 1.0 0.6 -0.1 0.3 2.3 3.3 2.7 3.0 14

 15 Other Treasury securities 0.6 3.8 -1.1 2.1 11.5 -10.4 -11.2 -0.1 8.4 3.6 15

 16 Nonfinancial corporate business -1.9 -1.5 -2.4 0.3 -3.3 0.6 2.8 -2.2 -4.4 1.4 16

 17 Nonfinancial noncorporate business 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.2 0.1 0.1 17

 18 State and local governments 2.2 0.6 -0.4 0.2 3.1 -0.1 -0.4 2.3 1.2 0.5 18

 19 SLGS (line 8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Other Treasury securities 2.2 0.6 -0.4 0.2 3.1 -0.1 -0.4 2.3 1.2 0.5 20

 21 Monetary authority 4.0 3.2 5.3 4.0 4.2 5.0 6.9 0.8 8.7 1.6 21

 22 Treasury bills 3.1 7.1 -0.2 2.8 3.5 3.7 4.2 -0.5 7.2 -0.1 22

 23 Other Treasury securities 0.9 -3.9 5.5 1.2 0.7 1.3 2.7 1.3 1.4 1.7 23

 24 U.S.-chartered depository institutions -3.2 -3.6 7.5 2.1 -11.7 5.7 2.8 1.6 -10.5 -5.0 24

 25 Foreign banking offices in U.S. 0.1 -0.1 0.1 0.0 0.0 -0.1 -0.2 0.1 -0.0 0.1 25

 26 Banks in U.S.-affiliated areas -0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 -0.1 -0.2 26

 27 Credit unions 0.0 0.0 0.0 0.0 0.2 0.0 0.0 -0.0 0.3 0.1 27

 28 Property-casualty insurance companies -0.2 -0.5 -0.7 -0.4 -0.5 -0.1 -0.2 -0.3 -0.1 0.0 28

 29 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Other Treasury securities -0.2 -0.5 -0.7 -0.4 -0.5 -0.1 -0.2 -0.3 -0.1 0.0 30

 31 Life insurance companies -0.5 -0.2 -0.2 -0.2 -0.3 -0.1 -0.2 -0.0 -0.4 -0.1 31

 32 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Other Treasury securities -0.5 -0.2 -0.2 -0.2 -0.3 -0.1 -0.2 -0.0 -0.4 -0.1 33

 34 Private pension funds -0.2 -0.2 -0.3 0.4 -0.2 -0.1 0.0 1.3 2.0 3.2 34

 35 Defined benefit plans -0.1 -0.2 -0.2 0.3 -0.1 -0.0 0.0 0.9 1.5 2.4 35

 36 Defined contribution plans -0.0 -0.1 -0.1 0.1 -0.0 -0.0 0.0 0.3 0.5 0.8 36

 37 Federal government retirement funds 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 37

 38 Defined benefit plans 1.3 1.3 1.3 1.3 1.5 2.4 2.8 3.0 2.1 2.7 38

 39 Defined contribution plans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 State and local govt. retirement funds 0.1 -0.0 -1.0 -0.2 -0.5 -0.3 -1.2 -0.3 -1.1 -0.9 40

 41 Defined benefit plans 0.1 -0.0 -1.0 -0.2 -0.5 -0.3 -1.2 -0.3 -1.1 -0.9 41

 42 Defined contribution plans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 43

 44 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Other Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 45

 46 Mutual funds 0.0 0.6 -0.5 0.2 -0.5 0.2 -0.3 0.1 -0.0 0.4 46

 47 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 Other Treasury securities 0.0 0.6 -0.5 0.2 -0.5 0.2 -0.3 0.1 -0.0 0.4 48

 49 Closed-end funds -0.0 -0.0 0.0 0.1 -0.0 -0.1 0.1 0.1 0.1 -0.1 49

 50 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

 51 Government-sponsored enterprises 0.1 0.9 0.0 -0.1 -0.6 1.1 -0.6 -1.2 -0.1 0.3 51

 52 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

 53 Brokers and dealers -0.3 0.7 -0.8 0.8 -0.0 1.7 -1.6 0.2 -0.0 0.2 53

 54 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Rest of the world -0.3 -1.9 2.1 -0.7 -2.3 9.5 26.6 8.2 -0.2 4.0 55

 56 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 14.4 -1.2 0.0 3.3 56

 57 Other Treasury securities -0.3 -1.9 2.1 -0.7 -2.3 9.5 12.2 9.4 -0.2 0.6 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.
Flo

ws

50 Historical Annuals, 1965-1974, March 10, 2016

F.211 Agency- and GSE-Backed Securities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net issues 2.6 6.9 4.3 6.9 7.4 8.8 4.9 9.3 20.4 21.0 1

 2 Budget agencies 0.4 1.4 4.2 3.2 -2.3 -1.0 -1.1 0.9 0.4 -0.1 2

 3 Government-sponsored enterprises 1.9 5.1 -0.6 3.2 9.1 8.2 1.1 3.5 16.3 16.6 3

 4 Agency- and GSE-backed mortgage pools 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 4

 5 Net purchases 2.6 6.9 4.3 6.9 7.4 8.8 4.9 9.3 20.4 21.0 5

 6 Household sector 0.9 4.7 0.4 -0.1 5.2 4.6 -1.3 -5.7 -0.6 6.4 6

 7 Nonfinancial corporate business 0.2 -0.2 -0.0 0.4 0.2 -0.5 -0.3 0.1 1.0 0.9 7

 8 Federal government 0.0 1.3 -0.1 0.1 -1.3 -0.1 0.0 -0.0 -0.0 -0.0 8

 9 State and local governments 0.2 -0.7 0.4 3.4 1.4 -2.3 -2.2 3.3 6.6 3.1 9

 10 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.8 0.6 2.8 10

 11 U.S.-chartered depository institutions 0.6 0.4 3.2 1.6 0.8 6.1 7.8 7.3 9.6 4.8 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.1 12

 13 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Credit unions 0.0 0.1 0.1 0.1 0.1 0.3 0.2 0.6 0.2 0.3 14

 15 Property-casualty insurance companies 0.1 0.7 -0.1 0.2 0.2 0.0 0.3 0.4 0.0 0.4 15

 16 Life insurance companies 0.0 0.1 -0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 16

 17 Private pension funds -0.0 -0.0 -0.1 0.1 0.2 0.3 -0.3 1.5 1.1 1.1 17

 18 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 State and local govt. retirement funds 0.1 0.2 0.1 0.6 0.2 -0.1 0.1 0.6 1.2 1.2 19

 20 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Government-sponsored enterprises 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.1 0.1 22

 23 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Rest of the world 0.3 0.3 0.3 0.3 0.3 0.3 0.0 0.1 0.1 -0.5 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.106, line 44.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 51

F.212 Municipal Securities

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 7.2 6.2 7.2 8.4 11.4 12.0 16.2 14.2 16.0 15.3 1

 2 State and local governments 7.2 6.2 7.2 8.4 11.4 12.0 16.1 13.6 13.8 12.8 2

 3 Short-term (1) 0.6 0.7 1.8 0.1 2.8 2.3 2.5 0.1 0.3 2.7 3

 4 Long-term 6.6 5.6 5.3 8.3 8.6 9.6 13.6 13.6 13.5 10.0 4

 5 Nonprofit organizations (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.9 5

 6 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.5 1.8 1.6 6

 (industrial revenue bonds)

 7 Net change in assets 7.2 6.2 7.2 8.4 11.4 12.0 16.2 14.2 16.0 15.3 7

 8 Household sector 1.7 4.6 -3.0 -1.6 10.8 -0.1 -1.2 1.7 6.6 7.1 8

 9 Nonfinancial corporate business 0.9 -1.0 -0.3 0.5 -1.0 -0.6 1.0 1.0 -0.1 0.6 9

 10 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 State and local governments -0.1 -0.0 0.0 0.0 0.1 0.1 -0.3 -0.3 0.2 0.5 11

 12 U.S.-chartered depository institutions 5.1 2.3 9.0 8.6 0.6 10.5 13.0 7.6 5.7 5.5 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.1 -0.1 0.0 0.2 -0.2 -0.0 0.0 0.1 13

 14 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 14

 15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Property-casualty insurance companies 0.4 0.7 1.5 0.9 1.1 1.5 3.5 4.3 3.6 2.2 16

 17 Life insurance companies -0.2 -0.3 -0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.3 17

 18 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 State and local govt. retirement funds -0.3 -0.1 -0.1 -0.0 -0.1 -0.3 0.1 -0.1 -0.3 -0.7 19

 20 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Closed-end funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Brokers and dealers -0.2 0.0 0.0 0.0 -0.2 0.6 0.1 -0.1 0.2 -0.4 25

 26 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.101 and L.101).
Flo

ws

52 Historical Annuals, 1965-1974, March 10, 2016

F.213 Corporate and Foreign Bonds

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net issues 6.5 12.5 16.8 14.6 14.0 23.2 24.5 20.6 15.5 29.0 1

 2 Nonfinancial corporate business 4.9 10.2 14.7 12.9 12.0 19.8 18.8 12.2 9.2 19.7 2

 3 Domestic financial sectors 1.2 1.6 1.0 0.6 1.0 2.5 4.7 7.4 5.4 6.9 3

 4 U.S.-chartered depository institutions 0.8 0.1 0.3 0.3 -0.2 0.1 0.9 1.1 0.0 0.2 4

 5 ABS issuers (net) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Finance companies 0.4 1.5 0.7 0.3 1.1 0.8 2.3 4.0 3.9 5.6 6

 7 REITs 0.0 0.0 0.0 0.0 0.1 0.5 0.4 0.4 0.6 0.2 7

 8 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Holding companies 0.0 0.0 0.0 0.0 0.0 1.1 1.1 1.9 0.9 1.0 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world (2) 0.5 0.7 1.2 1.1 1.0 0.9 0.9 1.0 1.0 2.4 11

 12 Net purchases (3) 6.5 12.5 16.8 14.6 14.0 23.2 24.5 20.6 15.5 29.0 12

 13 Household sector -1.3 2.1 4.0 2.9 3.6 7.7 7.6 1.1 3.0 12.9 13

 14 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 U.S.-chartered depository institutions -0.3 0.3 2.8 1.7 0.5 3.5 6.1 4.0 -2.7 0.8 16

 17 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other -0.3 0.3 2.8 1.7 0.5 3.5 6.1 4.0 -2.7 0.8 18

 19 Foreign banking offices in U.S. 0.0 0.0 0.2 -0.1 0.0 0.3 -0.3 -0.1 -0.0 0.0 19

 20 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 20

 21 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

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

 24 Property-casualty insurance companies 0.6 0.6 0.7 1.2 0.8 2.3 0.3 -0.7 -0.1 2.0 24

 25 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other 0.6 0.6 0.7 1.2 0.8 2.3 0.3 -0.7 -0.1 2.0 26

 27 Life insurance companies 2.8 2.4 3.8 3.7 1.7 1.5 5.5 7.0 5.9 4.0 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other 2.8 2.4 3.8 3.7 1.7 1.5 5.5 7.0 5.9 4.0 29

 30 Private pension funds 1.5 2.5 1.1 0.6 0.6 1.8 -0.8 2.0 2.1 2.3 30

 31 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 State and local govt. retirement funds 2.3 2.9 3.7 2.6 4.0 4.5 3.9 4.2 5.2 6.1 32

 33 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Mutual funds 0.4 0.4 -0.4 -0.6 0.9 0.6 0.2 0.5 0.1 0.6 34

 35 Closed-end funds 0.0 0.0 0.1 0.3 0.0 -0.6 0.4 0.2 0.4 -0.1 35

 36 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Brokers and dealers 0.3 0.1 0.4 -0.2 0.4 0.1 0.1 0.2 0.4 -0.6 42

 43 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Rest of the world (4) 0.0 1.2 0.3 2.3 1.6 1.5 1.5 2.1 1.3 1.0 45

 46 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Other 0.0 1.2 0.3 2.3 1.6 1.5 1.5 2.1 1.3 1.0 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.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 53

F.214 Loans (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 By instrument

 1 Total loans 60.7 48.4 53.5 60.9 68.3 51.5 82.3 131.8 161.8 139.4 1

 2 Depository institution loans n.e.c. 15.8 11.4 16.2 6.7 12.9 8.5 11.4 30.4 41.2 38.8 2

 3 Other loans and advances 7.4 7.4 8.5 14.0 15.0 7.7 6.9 10.0 20.4 29.5 3

 4 Mortgages 27.5 23.7 23.7 29.4 30.5 30.9 48.5 71.9 77.7 62.2 4

 5 Home 17.1 13.0 13.4 17.1 17.7 13.1 26.8 39.0 43.3 35.5 5

 6 Multifamily residential 3.6 3.1 3.5 3.4 4.9 8.1 9.7 12.8 10.4 6.9 6

 7 Commercial 4.5 5.8 4.8 6.8 6.0 8.2 10.1 17.2 19.6 14.7 7

 8 Farm 2.2 1.9 2.0 2.2 1.8 1.5 1.9 3.0 4.4 5.1 8

 9 Consumer credit 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 9

 By sector

 10 Total liabilities 60.7 48.4 53.5 60.9 68.3 51.5 82.3 131.8 161.8 139.4 10

 11 Domestic nonfinancial sectors 54.1 46.2 50.8 52.8 63.8 44.9 78.1 117.5 145.6 121.6 11

 12 Household sector 28.7 22.2 34.1 24.1 28.1 17.9 44.2 60.0 63.9 53.3 12

 13 Nonfinancial corporate business 15.7 13.8 6.3 17.5 19.7 20.4 11.0 25.8 63.5 30.6 13

 14 Nonfinancial noncorporate business 9.3 9.7 10.3 11.0 15.3 6.7 22.6 31.4 17.9 37.1 14

 15 Federal government 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 15

 16 State and local governments 0.3 0.6 0.2 0.3 0.7 0.1 0.4 0.3 0.3 0.7 16

 17 Domestic financial sectors 4.6 0.9 0.2 6.4 2.3 4.7 0.2 10.9 10.9 6.4 17

 18 U.S.-chartered depository institutions 0.7 0.9 -2.5 0.9 4.0 1.3 -2.7 0.0 7.2 6.7 18

 19 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Government-sponsored enterprises 0.2 -0.2 -0.1 0.2 -0.3 0.0 0.0 0.0 0.0 0.7 22

 23 Finance companies 3.3 -0.6 -0.4 1.1 1.0 2.2 0.9 5.0 3.5 -2.2 23

 24 REITs 0.0 0.0 0.0 0.8 0.6 0.2 0.7 1.8 3.7 3.4 24

 25 Brokers and dealers 0.4 0.8 3.2 3.5 -3.0 1.0 1.1 4.1 -3.4 -2.9 25

 26 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 26

 27 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Rest of the world 2.1 1.3 2.5 1.7 2.2 1.9 4.1 3.4 5.3 11.4 28

 29 Total assets 60.7 48.4 53.5 60.9 68.3 51.5 82.3 131.8 161.8 139.4 29

 30 Domestic nonfinancial sectors 5.3 6.1 9.2 10.4 4.9 8.0 4.3 5.0 6.0 13.3 30

 31 Household sector 1.0 1.9 4.4 5.0 -0.5 3.1 -3.4 0.0 0.8 3.2 31

 32 Nonfinancial corporate business 0.9 0.2 0.3 0.1 0.4 0.6 2.7 0.7 -0.5 1.5 32

 33 Nonfinancial noncorporate business 0.3 -0.1 -0.1 -0.0 0.2 0.5 1.1 1.0 0.1 -0.2 33

 34 Federal government 2.9 3.9 4.6 5.1 4.4 2.9 2.8 1.8 3.9 6.4 34

 35 State and local governments 0.2 0.2 0.1 0.2 0.5 0.9 1.1 1.4 1.7 2.5 35

 36 Domestic financial sectors 55.4 42.3 44.3 50.5 63.4 43.5 78.1 126.8 155.8 125.8 36

 37 Monetary authority 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 U.S.-chartered depository institutions 40.2 26.6 34.3 32.0 35.1 23.5 56.2 95.1 107.7 77.7 38

 39 Foreign banking offices in U.S. -0.2 0.5 0.3 0.4 1.4 2.8 0.7 0.6 3.9 8.1 39

 40 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.0 0.2 0.1 0.1 0.0 0.1 0.5 40

 41 Credit unions 1.0 1.0 0.8 1.3 1.8 1.0 1.8 2.3 3.1 2.3 41

 42 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 42

 43 Life insurance companies 5.4 6.0 3.8 3.7 4.6 4.6 2.1 2.4 6.6 7.5 43

 44 Private pension funds 0.6 0.5 0.2 -0.0 0.1 -0.0 -0.5 -0.9 -0.4 -0.0 44

 45 State and local govt. retirement funds 0.7 0.8 0.5 0.4 0.2 0.3 0.4 0.2 0.7 0.6 45

 46 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Government-sponsored enterprises 2.1 4.1 -0.1 3.3 9.2 7.7 1.6 4.8 15.6 19.6 47

 48 Agency- and GSE-backed mortgage pools 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 48

 49 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 Finance companies 4.8 2.3 0.5 5.2 8.6 2.3 6.1 9.9 11.9 5.4 50

 51 REITs 0.0 0.0 0.0 0.8 1.2 1.9 2.3 4.2 5.6 0.2 51

 52 Brokers and dealers 0.4 -0.0 3.2 2.8 -3.5 -1.3 2.6 3.7 -4.3 -1.6 52

 53 Holding companies 0.0 0.0 0.0 0.0 3.9 -1.0 -0.1 -0.2 1.7 0.9 53

 54 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
Flo

ws

54 Historical Annuals, 1965-1974, March 10, 2016

F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 15.8 11.4 16.2 6.7 12.9 8.5 11.4 30.4 41.2 38.8 1

 2 Household sector -0.4 0.7 8.0 -6.6 0.3 -0.1 0.1 0.6 3.3 4.8 2

 3 Corporate business 10.9 8.6 6.6 9.8 9.6 6.0 4.5 12.7 25.0 21.9 3

 4 Noncorporate business 1.6 2.3 1.4 1.5 2.7 0.4 2.2 2.8 7.7 8.3 4

 5 Domestic financial sectors 3.2 -0.0 0.6 2.4 0.6 2.3 2.7 11.4 2.6 -0.9 5

 6 Finance companies 3.3 -0.6 -0.4 1.1 1.0 2.2 0.9 5.0 3.5 -2.2 6

 7 REITs 0.0 0.0 0.0 0.6 0.4 0.1 0.6 1.3 3.4 3.3 7

 8 Brokers and dealers -0.2 0.6 0.9 0.7 -0.8 0.1 1.1 5.1 -4.3 -2.8 8

 9 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world 0.6 -0.1 -0.4 -0.4 -0.3 -0.2 2.0 3.0 2.7 4.7 11

 12 Foreign official institutions 0.1 -0.1 0.0 -0.2 -0.0 -0.1 0.2 0.2 0.4 0.3 12

 13 Foreign banks 0.2 0.1 -0.4 0.1 0.2 -0.1 0.9 1.1 1.6 3.1 13

 14 Other foreign 0.3 -0.1 0.0 -0.3 -0.4 0.0 0.9 1.7 0.7 1.3 14

 15 Net change in assets 15.8 11.4 16.2 6.7 12.9 8.5 11.4 30.4 41.2 38.8 15

 16 Monetary authority (2) 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 U.S.-chartered depository institutions 15.9 11.0 16.0 6.3 11.7 6.0 10.9 29.7 37.7 32.6 17

 18 Foreign banking offices in U.S. -0.2 0.4 0.1 0.4 1.2 2.5 0.5 0.8 3.4 6.2 18

 19 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to the household, rest of the world, broker and dealer, and funding corporation sectors. See loan details on table F.109.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 55

F.216 Other Loans and Advances

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total other loans and advances 7.4 7.4 8.5 14.0 15.0 7.7 6.9 10.0 20.4 29.5 1

 2 U.S. government loans 2.9 2.8 3.6 3.6 3.4 2.5 3.2 2.5 4.4 3.6 2

 3 Liab.: Household sector 0.2 0.5 0.3 0.4 0.4 0.3 0.4 0.4 0.2 0.5 3

 4 Nonfinancial corporate business 0.3 0.4 0.2 0.2 0.1 0.3 0.2 0.2 0.4 1.5 4

 5 Nonfinancial noncorporate business 0.2 0.2 0.5 0.3 0.3 0.5 0.4 0.1 1.9 0.6 5

 6 State and local governments 0.3 0.6 0.2 0.3 0.7 0.1 0.4 0.3 0.3 0.7 6

 7 Government-sponsored enterprises 0.2 -0.2 -0.1 0.2 -0.3 0.0 0.0 0.0 0.0 0.7 7

 8 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 1.6 1.4 2.4 2.2 2.1 1.3 1.8 1.5 1.7 -0.4 10

 11 Foreign loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 11

 12 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 0.0 0.2 0.6 0.1 0.8 1.3 0.7 -0.8 1.6 7.7 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.1 0.0 0.2 0.3 0.2 -0.2 0.4 1.9 14

 15 Liab.: Nonfinancial corporate business 0.1 0.3 0.2 0.3 0.7 0.8 0.5 0.1 1.1 2.5 15

 16 Rest of the world -0.1 -0.1 0.5 -0.2 0.3 0.8 0.3 -1.0 0.9 7.1 16

 17 Holding company loans 0.0 0.0 0.0 0.0 3.9 -1.0 -0.1 -0.2 1.7 0.9 17

 18 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 3.9 -1.0 -0.1 -0.2 1.7 0.9 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Policy loans (Household liability) 0.6 1.5 1.0 1.3 2.6 2.3 1.0 1.0 2.2 2.7 20

 21 Asset: Federal government 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.0 0.0 0.0 21

 22 Life insurance companies 0.5 1.4 0.9 1.2 2.5 2.2 1.0 0.9 2.2 2.7 22

 23 Federal Home Loan Banks advances (1) 0.7 0.9 -2.5 0.9 4.0 1.3 -2.7 0.0 7.2 6.7 23

 24 Liab.: U.S.-chartered depository institutions 0.7 0.9 -2.5 0.9 4.0 1.3 -2.7 0.0 7.2 6.7 24

 25 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Real estate investment trusts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Govt.-sponsored enterprises loans (2) 0.4 0.6 0.7 0.3 0.8 1.0 0.7 0.7 1.4 2.6 30

 31 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Nonfinancial corporate business (FCS) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 32

 33 Nonfinancial noncorporate business (FCS) 0.4 0.6 0.7 0.3 0.7 1.0 0.6 0.7 1.3 2.5 33

 34 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Finance company loans to business 2.0 1.1 -0.3 2.2 5.0 0.4 1.3 4.2 5.0 4.8 37

 38 Liab.: Nonfinancial corporate business 1.8 1.0 -0.3 2.0 4.5 0.3 1.2 3.8 4.5 4.4 38

 39 Nonfinancial noncorporate business 0.2 0.1 -0.0 0.2 0.5 0.0 0.1 0.4 0.5 0.5 39

 40 Margin accounts at brokers and dealers 0.4 -0.0 3.2 2.8 -3.5 -1.3 2.6 3.7 -4.3 -1.6 40

 41 Liab.: Household sector 0.4 -0.0 3.2 2.8 -3.5 -1.3 2.6 3.7 -4.3 -1.6 41

 42 Cash accounts at brokers and dealers 0.5 0.2 2.2 2.7 -2.2 0.9 0.0 -1.0 0.9 -0.1 42

 43 Asset: Household sector 0.5 0.2 2.2 2.7 -2.2 0.9 0.0 -1.0 0.9 -0.1 43

 44 Loans to nonfinancial corporate business (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

(1) The Federal Home Loan Banks are included in the government-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 23.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
Flo

ws

56 Historical Annuals, 1965-1974, March 10, 2016

F.217 Total Mortgages (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in mortgages 27.5 23.7 23.7 29.4 30.5 30.9 48.5 71.9 77.7 62.2 1

 2 Home 17.1 13.0 13.4 17.1 17.7 13.1 26.8 39.0 43.3 35.5 2

 3 Multifamily residential 3.6 3.1 3.5 3.4 4.9 8.1 9.7 12.8 10.4 6.9 3

 4 Commercial 4.5 5.8 4.8 6.8 6.0 8.2 10.1 17.2 19.6 14.7 4

 5 Farm 2.2 1.9 2.0 2.2 1.8 1.5 1.9 3.0 4.4 5.1 5

 6 Net borrowing 27.5 23.7 23.7 29.4 30.5 30.9 48.5 71.9 77.7 62.2 6

 7 Household sector 17.8 13.7 16.3 15.4 18.4 12.2 24.6 34.9 40.1 37.9 7

 8 Nonfinancial business 9.6 10.1 7.4 13.9 11.9 18.6 23.8 36.7 37.4 24.2 8

 9 Corporate 2.7 3.6 -0.4 5.2 0.9 13.9 4.6 9.2 30.9 -1.0 9

 10 Noncorporate 7.0 6.5 7.8 8.7 11.0 4.7 19.2 27.4 6.6 25.2 10

 11 Federal government 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 11

 12 REITs 0.0 0.0 0.0 0.2 0.2 0.1 0.1 0.5 0.3 0.1 12

 13 Net change in assets 27.5 23.7 23.7 29.4 30.5 30.9 48.5 71.9 77.7 62.2 13

 14 Household sector 0.5 1.7 2.1 2.3 1.7 2.2 -3.4 1.0 -0.0 3.4 14

 15 Nonfinancial corporate business 0.0 0.0 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.1 0.4 15

 16 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.3 0.4 1.2 1.1 0.3 0.1 16

 17 Federal government -0.0 1.0 0.9 1.4 1.0 0.3 -0.4 -0.7 -0.6 2.7 17

 18 State and local governments 0.2 0.2 0.1 0.2 0.5 0.9 1.1 1.4 1.7 2.5 18

 19 U.S.-chartered depository institutions 18.7 12.4 14.0 18.6 17.5 13.9 35.7 53.1 52.4 33.5 19

 20 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 20

 21 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.0 0.2 0.1 0.1 0.0 0.1 0.5 21

 22 Credit unions -0.0 0.0 -0.1 -0.1 -0.2 -0.3 0.0 0.2 0.4 0.1 22

 23 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 23

 24 Life insurance companies 4.9 4.6 2.9 2.5 2.1 2.3 1.1 1.5 4.4 4.9 24

 25 Private pension funds 0.6 0.5 0.2 -0.0 0.1 -0.0 -0.5 -0.9 -0.4 -0.0 25

 26 State and local govt. retirement funds 0.7 0.8 0.5 0.4 0.2 0.3 0.4 0.2 0.7 0.6 26

 27 Government-sponsored enterprises (1) 1.1 2.6 1.8 2.2 4.4 5.4 3.6 4.0 7.1 10.3 27

 28 Agency- and GSE-backed mortgage pools 0.2 0.4 0.7 0.5 0.7 1.6 4.8 4.9 3.6 4.5 28

 29 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Finance companies 0.5 -0.6 0.4 0.6 0.8 1.8 2.4 2.2 2.3 -1.4 30

 31 REITs 0.0 0.0 0.0 0.8 1.2 1.9 2.3 4.2 5.6 0.2 31

(1) Sum of home mortgages, multifamily residential mortgages, commercial mortgages, and farm mortgages.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 57

F.218 Home Mortgages (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net borrowing 17.1 13.0 13.4 17.1 17.7 13.1 26.8 39.0 43.3 35.5 1

 2 Household sector 17.1 13.0 13.4 17.1 17.7 11.3 24.1 34.1 39.5 37.3 2

 3 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.4 0.5 1.0 0.8 -0.4 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 1.4 2.2 3.9 3.0 -1.4 4

 5 Net change in assets 17.1 13.0 13.4 17.1 17.7 13.1 26.8 39.0 43.3 35.5 5

 6 Household sector 1.2 1.1 1.6 2.0 1.8 -1.3 0.4 -0.8 0.6 3.0 6

 7 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.4 0.1 -0.0 8

 9 Federal government -0.1 0.6 0.7 0.9 0.2 -0.1 -0.6 -0.6 -0.8 1.4 9

 10 State and local governments 0.0 0.0 -0.0 0.0 0.1 0.1 0.1 0.1 0.6 0.7 10

 11 U.S.-chartered depository institutions 13.2 8.3 9.4 12.3 12.2 8.3 21.5 35.3 35.8 22.6 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Banks in U.S.-affiliated areas 0.1 0.0 0.1 0.0 0.0 0.1 0.1 0.0 0.0 0.1 13

 14 Credit unions -0.0 0.0 -0.1 -0.1 -0.2 -0.3 0.0 0.2 0.4 0.1 14

 15 Life insurance companies 1.1 0.6 -0.5 -0.7 -1.4 -0.9 -2.1 -2.3 -1.9 -1.4 15

 16 Private pension funds 0.3 0.2 0.1 -0.0 0.1 -0.0 -0.3 -0.4 -0.2 -0.0 16

 17 State and local govt. retirement funds 0.3 0.4 0.2 0.2 0.0 0.1 0.1 0.0 0.2 0.1 17

 18 Government-sponsored enterprises 0.5 1.9 1.1 1.6 3.8 4.6 2.1 1.8 3.4 5.6 18

 19 Agency- and GSE-backed mortgage pools 0.1 0.2 0.4 0.3 0.4 1.2 4.2 4.0 2.9 4.4 19

 20 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Finance companies 0.5 -0.5 0.3 0.5 0.7 0.9 0.7 0.9 1.5 -0.9 21

 22 REITs 0.0 0.0 0.0 0.0 0.2 0.4 0.2 0.4 0.7 -0.2 22

 Memo:

 23 Charge-offs (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Home equity loans included above (3) ND ND ND ND ND ND ND ND ND ND 24

 25 U.S.-chartered depository institutions ND ND ND ND ND ND ND ND ND ND 25

 26 Foreign banking offices in U.S. ND ND ND ND ND ND ND ND ND ND 26

 27 Credit unions ND ND ND ND ND ND ND ND ND ND 27

 28 ABS issuers ND ND ND ND ND ND ND ND ND ND 28

 29 Finance companies ND ND ND ND ND ND 0.3 0.3 0.3 0.3 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from the flow (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars

 1 Net borrowing 3.6 3.1 3.5 3.4 4.9 8.1 9.7 12.8 10.4 6.9 1

 2 Nonfinancial corporate business 0.2 0.2 0.2 0.2 0.2 0.4 0.5 0.6 0.5 0.3 2

 3 Nonfinancial noncorporate business 3.4 3.0 3.4 3.3 4.7 7.7 9.3 12.1 9.9 6.6 3

 4 Federal government 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 4

 5 REITs 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.2 0.1 0.0 5

 6 Net change in assets 3.6 3.1 3.5 3.4 4.9 8.1 9.7 12.8 10.4 6.9 6

 7 Household sector -0.5 -0.1 -0.0 -0.1 -0.4 1.1 -1.6 0.3 -0.9 -0.0 7

 8 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.3 0.0 -0.1 9

 10 Federal government -0.0 0.3 0.2 0.3 0.7 0.5 0.4 0.3 0.3 0.7 10

 11 State and local governments 0.2 0.1 0.1 0.2 0.4 0.6 0.7 1.0 0.9 1.4 11

 12 U.S.-chartered depository institutions 1.9 0.9 1.5 1.7 2.1 2.4 6.2 6.6 4.3 2.3 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies 1.6 1.5 1.4 1.0 1.5 1.7 0.8 0.6 1.1 1.2 14

 15 Private pension funds 0.2 0.2 0.1 -0.0 0.1 -0.0 -0.3 -0.3 -0.1 0.0 15

 16 State and local govt. retirement funds 0.2 0.3 0.2 0.1 0.1 0.1 0.3 -0.1 -0.1 0.1 16

 17 Government-sponsored enterprises -0.0 0.0 -0.0 0.0 0.0 0.3 0.8 1.0 1.8 2.2 17

 18 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 0.2 0.2 18

 19 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Finance companies 0.1 -0.1 0.1 0.1 0.1 0.5 1.2 0.9 0.4 -1.2 20

 21 REITs 0.0 0.0 0.0 0.1 0.4 0.8 0.9 2.0 2.4 0.2 21
Flo

ws

58 Historical Annuals, 1965-1974, March 10, 2016

F.220 Commercial Mortgages

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net borrowing 4.5 5.8 4.8 6.8 6.0 8.2 10.1 17.2 19.6 14.7 1

 2 Household sector 0.7 0.7 3.0 -1.6 0.7 0.9 0.6 0.8 0.6 0.6 2

 3 Nonfinancial corporate business 2.4 3.3 -0.8 4.8 0.5 13.0 3.4 7.4 29.3 -1.4 3

 4 Nonfinancial noncorporate business 1.4 1.8 2.5 3.4 4.6 -5.8 6.0 8.7 -10.5 15.3 4

 5 REITs 0.0 0.0 0.0 0.1 0.2 0.1 0.1 0.3 0.2 0.1 5

 6 Net change in assets 4.5 5.8 4.8 6.8 6.0 8.2 10.1 17.2 19.6 14.7 6

 7 Household sector -0.9 0.4 -0.0 -0.6 -0.3 1.9 -2.6 0.7 -1.0 -1.1 7

 8 Nonfinancial corporate business 0.0 0.0 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.1 0.4 8

 9 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.3 0.4 0.4 0.4 0.2 0.2 9

 10 Federal government 0.0 0.0 0.1 0.1 0.1 0.1 0.1 -0.2 -0.1 0.3 10

 11 State and local governments 0.0 0.0 0.0 0.0 0.0 0.2 0.2 0.3 0.2 0.3 11

 12 U.S.-chartered depository institutions 3.3 3.0 2.9 4.4 3.0 2.7 7.5 10.6 11.6 8.0 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 13

 14 Banks in U.S.-affiliated areas 0.0 0.0 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.1 0.4 14

 15 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 15

 16 Life insurance companies 1.7 2.1 1.6 1.9 2.0 1.6 2.5 3.1 4.9 4.8 16

 17 Private pension funds 0.2 0.2 0.1 0.0 0.0 0.0 0.1 -0.2 -0.0 -0.0 17

 18 State and local govt. retirement funds 0.1 0.1 0.1 0.1 0.0 0.2 0.0 0.1 0.5 0.5 18

 19 Agency- and GSE-backed mortgage pools 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.3 -0.1 19

 20 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Finance companies 0.0 -0.0 0.0 0.0 0.0 0.3 0.6 0.4 0.4 0.7 21

 22 REITs 0.0 0.0 0.0 0.7 0.6 0.7 1.2 1.7 2.5 0.2 22

F.221 Farm Mortgages (1)

Billions of dollars

 1 Net borrowing 2.2 1.9 2.0 2.2 1.8 1.5 1.9 3.0 4.4 5.1 1

 2 Nonfinancial corporate business 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.4 2

 3 Nonfinancial noncorporate business 2.1 1.7 1.8 2.0 1.7 1.4 1.7 2.8 4.2 4.7 3

 4 Net change in assets 2.2 1.9 2.0 2.2 1.8 1.5 1.9 3.0 4.4 5.1 4

 5 Household sector 0.7 0.3 0.7 0.9 0.7 0.4 0.4 0.8 1.3 1.5 5

 6 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 6

 7 Federal government 0.1 0.1 -0.1 0.1 0.0 -0.2 -0.3 -0.1 -0.0 0.2 7

 8 State and local governments 0.0 0.0 -0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions 0.3 0.2 0.2 0.2 0.3 0.5 0.6 0.6 0.7 0.6 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 0.5 0.4 0.3 0.2 -0.0 -0.1 -0.0 0.1 0.3 0.3 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.1 -0.1 -0.0 0.0 0.1 -0.1 12

 13 Government-sponsored enterprises 0.6 0.7 0.7 0.5 0.6 0.5 0.7 1.2 1.9 2.5 13

 14 Agency- and GSE-backed mortgage pools 0.1 0.1 0.2 0.1 0.2 0.3 0.4 0.3 0.2 -0.0 14

(1) Excludes mortgages on farm houses.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 59

F.222 Consumer Credit

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities (Households) 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 1

 2 Net change in assets 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 2

 3 Households (nonprofit organizations) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business 0.9 0.2 0.3 0.1 0.2 0.6 2.7 0.7 -0.6 1.1 4

 5 Nonfinancial noncorporate business 0.3 -0.1 -0.1 -0.0 -0.1 0.1 -0.1 -0.1 -0.2 -0.4 5

 6 Federal government (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 U.S.-chartered depository institutions 5.6 3.1 3.7 6.9 5.1 2.3 8.9 13.1 16.0 4.0 7

 8 Credit unions 1.0 1.0 0.8 1.4 2.0 1.3 1.8 2.2 2.7 2.3 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Finance companies 2.3 1.8 0.5 2.3 2.8 0.1 2.3 3.6 4.6 1.9 11

 Memo:

 12 Credit card loans (3) 0.0 0.0 0.0 0.8 1.6 1.4 3.4 1.2 2.0 2.0 12

 13 Auto loans 3.5 1.6 0.1 3.2 2.6 -0.6 4.2 7.3 5.9 0.5 13

 14 Student loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other consumer credit (5) 6.6 4.3 5.0 6.7 5.7 3.6 8.0 11.0 14.5 6.5 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
Flo

ws

60 Historical Annuals, 1965-1974, March 10, 2016

F.223 Corporate Equities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net issues -0.4 1.6 1.7 1.4 5.6 5.6 14.8 13.2 13.2 5.8 1

 2 Nonfinancial corporate business -0.0 1.3 2.4 -0.2 3.4 5.7 11.4 10.9 7.9 4.1 2

 3 Domestic financial sectors -0.7 0.4 -0.8 1.1 1.6 -0.3 3.1 2.7 5.6 2.2 3

 4 U.S.-chartered depository institutions -0.1 -0.0 -0.0 -0.1 -0.0 0.1 0.6 1.2 1.2 1.0 4

 5 Property-casualty insurance companies 0.1 0.1 0.1 0.2 0.5 0.4 0.6 0.5 0.5 0.9 5

 6 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Closed-end funds -0.7 0.3 -0.8 0.7 0.5 -2.3 1.1 -0.1 2.7 0.9 7

 8 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 REITs 0.0 0.0 0.0 0.1 0.6 1.4 0.8 0.8 0.5 -1.4 9

 10 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.4 0.5 10

 11 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.3 0.3 11

 12 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Funding corporations (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Rest of the world (3) 0.3 -0.0 0.1 0.5 0.5 0.2 0.2 -0.4 -0.3 -0.5 14

 15 Net purchases -0.4 1.6 1.7 1.4 5.6 5.6 14.8 13.2 13.2 5.8 15

 16 Household sector -10.6 -9.8 -13.6 -19.7 -17.2 -4.4 -6.0 -10.4 -3.7 -1.2 16

 17 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 U.S.-chartered depository institutions 0.2 0.0 0.2 0.3 0.2 0.3 0.5 0.6 0.4 0.2 20

 21 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 21

 22 Property-casualty insurance companies 0.1 0.4 0.3 0.8 1.0 1.0 2.5 3.0 2.4 -0.5 22

 23 Life insurance companies 0.7 0.2 1.0 1.3 1.3 1.6 4.0 3.8 3.3 1.9 23

 24 Private pension funds 8.5 9.1 11.4 12.8 14.0 4.6 8.9 12.1 4.1 1.8 24

 25 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 State and local govt. retirement funds 0.4 0.5 0.7 1.3 1.8 2.1 3.2 3.7 3.4 2.6 26

 27 Mutual funds 1.3 1.0 1.8 2.5 1.8 1.2 0.4 -1.8 -2.2 -0.4 27

 28 Closed-end funds -0.7 0.3 -1.0 0.3 0.5 -1.6 0.5 -0.4 2.1 1.1 28

 29 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Brokers and dealers 0.2 0.3 0.1 -0.3 0.6 -0.0 -0.1 0.1 0.6 0.1 30

 31 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Rest of the world (4) -0.4 -0.3 0.7 2.1 1.6 0.7 0.8 2.4 2.8 0.2 32

(1) Excludes mutual fund shares shown on table F.224.

(2) Preferred shares issued by AIG to the federal goverment under the TARP program and the monetary authority sector’s preferred interest in AIA Aurora LLC and ALICO Holdings LLC.

(3) Net purchases of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(4) Net purchases of U.S. issues by foreign residents.

F.224 Mutual Fund Shares (1)

Billions of dollars

 1 Net issues 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 1

 2 Net purchases 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 2

 3 Household sector 2.1 2.2 0.9 2.2 2.7 1.1 0.3 -1.4 -2.2 -1.4 3

 4 Nonfinancial corporate business 0.1 0.1 0.1 0.2 0.1 -0.0 -0.1 -0.0 0.2 0.3 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Life insurance companies 0.0 0.0 0.0 0.0 0.4 0.4 -0.4 -0.3 0.2 0.4 9

 10 Private pension funds 0.0 0.1 0.0 0.1 0.2 0.2 0.2 0.3 0.6 0.8 10

 11 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 61

F.225 Trade Credit

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in trade payables 13.8 11.0 9.5 17.4 23.4 10.0 16.6 28.5 47.5 36.6 1

 2 Household sector 0.4 0.4 0.6 0.6 0.7 0.6 0.9 0.8 0.7 1.2 2

 3 Nonfinancial corporate business 11.8 9.1 5.9 16.4 19.5 7.9 13.7 23.2 38.1 26.5 3

 4 Nonfinancial noncorporate business -0.3 -1.2 -0.1 -2.1 0.6 -0.7 0.2 1.1 3.4 3.1 4

 5 Federal government 0.6 0.8 0.7 -0.0 -0.1 -1.0 -1.1 0.2 0.8 -0.6 5

 6 State and local governments 1.4 1.5 1.7 1.9 2.0 2.2 2.4 2.5 2.8 3.3 6

 7 Brokers and dealers 0.0 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.1 7

 8 Rest of the world -0.0 0.3 0.7 0.6 0.6 1.0 0.6 0.6 1.7 3.0 8

 9 Net change in trade receivables 14.7 15.7 12.0 20.8 26.7 8.7 13.2 29.9 48.9 35.6 9

 10 Nonfinancial corporate business 13.3 12.4 8.3 18.5 22.8 8.4 12.4 26.4 40.9 31.8 10

 11 Nonfinancial noncorporate business -0.2 0.6 0.5 -1.4 0.5 -1.5 1.5 0.6 2.3 2.2 11

 12 Federal government 0.4 1.2 1.5 0.6 0.9 -0.8 -1.7 -0.8 0.3 1.0 12

 13 State and local governments 0.8 0.6 0.6 0.9 1.2 0.6 0.9 1.5 2.8 -2.0 13

 14 Property-casualty insurance companies 0.2 0.2 0.3 0.3 0.4 0.5 0.3 1.2 0.6 0.5 14

 15 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.3 0.6 0.8 1.8 0.8 1.5 -0.2 1.1 1.9 2.1 16

 17 Discrepancy -0.9 -4.7 -2.5 -3.3 -3.3 1.2 3.4 -1.4 -1.4 1.0 17

F.226 Life Insurance Reserves

Billions of dollars

 1 Net change in liabilities 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 1

 2 Federal government 0.1 0.1 0.1 -0.0 0.1 0.1 0.1 0.2 0.2 0.1 2

 3 Life insurance companies 4.7 4.6 5.1 4.8 5.0 5.2 6.3 6.7 7.2 7.0 3

 4 Net change in assets 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 4

 5 Households 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7
Flo

ws

62 Historical Annuals, 1965-1974, March 10, 2016

F.227 Pension Entitlements

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 35.7 41.6 45.2 52.3 62.5 58.3 64.1 77.2 77.0 84.3 1

 2 Life insurance companies (1) 2.1 2.1 1.5 2.3 3.1 2.9 4.6 4.4 5.7 6.0 2

 3 Private pension funds (2) 12.7 16.8 19.1 22.5 28.5 18.3 16.8 26.1 22.7 27.2 3

 4 Federal government retirement funds (3) 14.5 15.8 17.0 18.3 20.4 25.3 28.6 30.2 31.3 32.0 4

 5 State and local govt. retirement funds 6.4 7.0 7.6 9.2 10.5 11.8 14.0 16.5 17.2 19.1 5

 6 Net change in assets (Households) (4) 35.7 41.6 45.2 52.3 62.5 58.3 64.1 77.2 77.0 84.3 6

 Memo:

 7 Individual Retirement Accounts (IRAs) at: (5) ND ND ND ND ND ND ND ND ND ND 7

 8 U.S.-chartered depository institutions ND ND ND ND ND ND ND ND ND ND 8

 9 Credit unions ND ND ND ND ND ND ND ND ND ND 9

 10 Life insurance companies ND ND ND ND ND ND ND ND ND ND 10

 11 Money market mutual funds ND ND ND ND ND ND ND ND ND ND 11

 12 Mutual funds ND ND ND ND ND ND ND ND ND ND 12

 13 Other self-directed accounts ND ND ND ND ND ND ND ND ND ND 13

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Assets of the household sector (F.101). Figures for depositories (lines 8 and 9) include Keogh accounts. Variable annuities in IRAs are included in the life insurance sector (line 10)

 and excluded from the money market mutual fund and mutual fund sectors (lines 11 and 12).

F.228 Taxes Payable by Businesses

Billions of dollars

 1 Net change in taxes payable by all 2.1 -0.9 -4.4 1.3 -1.5 -2.0 4.1 3.9 5.4 9.0 1

 businesses

 2 Nonfinancial corporate business 2.1 -0.9 -4.2 1.1 -1.7 -2.6 3.1 2.4 3.8 7.4 2

 3 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.5 1.5 1.6 3

 4 U.S.-chartered depository institutions -0.1 -0.1 -0.1 -0.0 0.1 0.4 0.0 -0.2 0.1 0.2 4

 5 Property-casualty insurance companies 0.1 0.0 0.0 -0.0 0.1 0.1 -0.0 0.1 0.0 0.0 5

 6 Life insurance companies -0.0 0.1 -0.1 0.2 0.1 0.1 -0.0 0.0 0.0 -0.0 6

 7 Finance companies 0.1 -0.0 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Brokers and dealers 0.0 0.0 0.1 0.0 -0.1 0.0 -0.0 0.0 -0.0 -0.1 8

 9 Net change in business taxes receivable 1.3 -1.4 -5.0 1.0 -3.2 -2.6 2.7 1.4 3.1 1.7 9

 10 Federal government 1.2 -1.4 -5.1 0.8 -3.2 -2.7 1.4 -0.4 1.5 -0.0 10

 11 State and local governments 0.1 0.0 0.1 0.2 0.0 0.1 1.2 1.8 1.6 1.7 11

 12 Discrepancy 0.8 0.5 0.6 0.2 1.7 0.6 1.4 2.5 2.3 7.3 12

F.229 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household investment 3.8 3.5 0.9 3.2 0.1 -0.4 1.8 -4.9 10.1 -27.0 1

 2 Nonfinancial noncorporate business 3.8 3.5 0.9 3.2 0.1 -0.4 1.8 -4.9 9.4 -27.8 2

 3 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.8 3
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 63

F.230 Direct Investment

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 5.0 5.4 4.8 5.3 6.0 7.6 7.6 7.7 11.4 9.1 1

 2 Equity ND ND ND ND ND ND ND ND ND ND 2

 3 Equity (other than reinvested earnings) ND ND ND ND ND ND ND ND ND ND 3

 4 Reinvested earnings ND ND ND ND ND ND ND ND ND ND 4

 5 Of which: Current-cost adjustment ND ND ND ND ND ND ND ND ND ND 5

 6 Intercompany debt (2) ND ND ND ND ND ND ND ND ND ND 6

 7 U.S. parents’ claims ND ND ND ND ND ND ND ND ND ND 7

 8 Less: U.S. parents’ liabilities ND ND ND ND ND ND ND ND ND ND 8

 9 Asset: Nonfinancial corporate business 4.8 5.2 4.5 5.0 5.6 7.1 7.0 7.0 10.5 7.9 9

 10 Of which: Current-cost adjustment ND ND ND ND ND ND ND ND ND ND 10

 11 U.S.-chartered depository institutions 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.4 11

 12 Property-casualty insurance companies 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.4 0.5 12

 13 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 13

 14 Finance companies 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Brokers and dealers 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 Foreign direct investment in U.S.:

 16 Liab.: Nonfinancial corporate business 0.5 0.4 0.7 0.8 1.2 1.4 0.3 0.9 2.5 4.6 16

 17 Of which: Current-cost adjustment ND ND ND ND ND ND ND ND ND ND 17

 18 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 18

 19 Foreign banking offices in U.S. -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 19

 20 Property-casualty insurance companies -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 20

 21 Life insurance companies -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.3 21

 22 Finance companies -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 22

 23 Brokers and dealers -0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 0.3 23

 24 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Asset: Rest of the world (1) 0.4 0.4 0.7 0.8 1.3 1.5 0.4 0.9 2.8 4.8 25

 26 Equity ND ND ND ND ND ND ND ND ND ND 26

 27 Equity (other than reinvested earnings) ND ND ND ND ND ND ND ND ND ND 27

 28 Reinvested earnings ND ND ND ND ND ND ND ND ND ND 28

 29 Of which: Current-cost adjustment ND ND ND ND ND ND ND ND ND ND 29

 30 Intercompany debt ND ND ND ND ND ND ND ND ND ND 30

 31 U.S. affiliates’ liabilities ND ND ND ND ND ND ND ND ND ND 31

 32 Less: U.S. affiliates’ claims ND ND ND ND ND ND ND ND ND ND 32

 Memo:

 Direct investment, asset/liability presentation:

 33 Net U.S. acquisition of direct investment assets ND ND ND ND ND ND ND ND ND ND 33

 34 Equity (line 2) ND ND ND ND ND ND ND ND ND ND 34

 35 Intercompany debt ND ND ND ND ND ND ND ND ND ND 35

 36 U.S. parents’ claims (line 7) ND ND ND ND ND ND ND ND ND ND 36

 37 U.S. affiliates’ claims (line 32) ND ND ND ND ND ND ND ND ND ND 37

 38 Net U.S. incurrence of direct investment liabilities ND ND ND ND ND ND ND ND ND ND 38

 39 Equity (line 26) ND ND ND ND ND ND ND ND ND ND 39

 40 Intercompany debt ND ND ND ND ND ND ND ND ND ND 40

 41 U.S. parents’ liabilities (line 8) ND ND ND ND ND ND ND ND ND ND 41

 42 U.S. affiliates’ liabilities (line 31) ND ND ND ND ND ND ND ND ND ND 42

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
Flo

ws

64 Historical Annuals, 1965-1974, March 10, 2016

F.231 Total Miscellaneous Financial Claims

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 23.2 18.6 25.9 32.0 41.9 46.5 57.2 75.5 80.0 48.2 1

 2 Household sector 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.4 0.7 2

 3 Nonfinancial corporate business 0.9 0.7 3.2 -0.0 2.9 -7.3 0.0 -0.8 -0.9 2.4 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 8.6 2.9 2.7 3.3 5.6 4

 5 Federal government 13.2 14.2 15.8 17.7 18.5 23.5 26.6 27.2 28.8 29.2 5

 6 State and local governments 3.1 2.7 3.5 4.4 5.1 5.4 7.5 8.0 7.7 9.8 6

 7 Monetary authority -0.3 0.1 0.1 0.4 0.3 0.5 -0.2 0.0 1.3 -0.2 7

 8 U.S.-chartered depository institutions 3.0 0.1 0.8 5.0 4.2 4.3 8.1 15.4 9.1 -6.0 8

 9 Foreign banking offices in U.S. 0.3 0.1 -0.0 -0.4 -0.1 -1.8 -1.1 3.9 0.5 -0.6 9

 10 Banks in U.S.-affiliated areas -0.0 0.0 0.0 0.0 -0.0 0.1 0.1 0.1 0.3 -0.2 10

 11 Credit unions -0.1 -0.0 -0.0 -0.0 -0.0 0.0 -0.1 -0.1 0.1 0.3 11

 12 Property-casualty insurance companies 1.5 1.8 2.1 2.5 3.3 3.4 3.6 4.8 4.8 4.9 12

 13 Life insurance companies 1.2 1.2 1.6 1.5 1.4 1.5 1.9 2.6 2.5 2.8 13

 14 Government-sponsored enterprises 0.1 0.2 0.5 -0.2 0.4 1.8 -0.5 0.4 2.2 0.4 14

 15 Finance companies -0.2 -3.2 -2.0 0.8 0.6 -0.7 4.8 3.4 4.0 -4.1 15

 16 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.1 1.4 16

 17 Brokers and dealers -0.0 -0.0 -0.0 -0.1 -0.1 -0.0 -0.1 0.8 -0.2 -0.1 17

 18 Holding companies 0.0 0.0 0.0 0.0 4.4 6.9 3.5 6.1 12.3 1.1 18

 19 Funding corporations 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 19

 20 Rest of the world 0.0 0.2 -0.0 0.1 0.1 0.2 0.1 0.1 3.5 1.0 20

 21 Net change in assets 28.3 21.8 33.3 37.8 49.3 56.4 71.8 93.5 88.7 52.6 21

 22 Household sector 1.4 1.3 1.6 1.9 2.2 2.7 2.6 2.9 3.1 2.9 22

 23 Nonfinancial corporate business 6.8 -1.7 2.7 3.8 5.0 4.8 10.1 25.1 14.1 3.0 23

 24 Nonfinancial noncorporate business 0.5 0.6 0.6 0.8 1.1 1.1 5.3 6.2 4.4 1.1 24

 25 State and local governments -0.0 0.1 0.0 -0.1 -0.1 -0.0 0.1 -0.1 -0.0 -0.1 25

 26 Federal government 0.0 0.3 -0.0 -0.2 0.1 0.2 0.1 0.1 1.0 -0.0 26

 27 Monetary authority 0.3 0.2 0.2 0.1 0.2 -0.5 0.1 0.2 0.2 1.8 27

 28 U.S.-chartered depository institutions 0.3 -0.0 2.7 0.5 -2.2 0.7 4.1 4.6 3.8 -8.2 28

 29 Foreign banking offices in U.S. 0.0 0.1 -0.6 0.5 -0.8 -1.4 0.6 1.4 0.1 -0.6 29

 30 Banks in U.S.-affiliated areas 0.0 0.1 0.1 0.1 0.9 0.3 0.1 0.0 0.1 -0.2 30

 31 Credit unions -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 -0.1 31

 32 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Life insurance companies 0.4 0.2 0.2 0.6 0.8 0.8 0.9 1.0 0.9 1.3 33

 34 Private pension funds 1.8 4.4 6.0 7.6 12.6 10.5 8.1 5.7 9.2 12.4 34

 35 Federal government retirement funds 13.2 14.5 15.7 17.0 18.9 22.9 25.8 27.2 29.2 29.2 35

 36 State and local govt. retirement funds 3.1 2.7 3.5 4.4 5.1 5.4 7.5 8.0 7.7 9.8 36

 37 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 37

 38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Government-sponsored enterprises 0.1 -0.1 0.0 0.0 0.4 0.8 0.2 -0.3 1.0 -1.8 39

 40 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Finance companies 0.4 -0.7 0.4 0.6 0.7 1.1 1.7 1.3 1.4 -2.3 41

 42 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.1 -0.6 -0.4 42

 43 Brokers and dealers 0.0 -0.2 0.2 0.1 -0.2 0.1 0.2 0.1 -0.3 -0.7 43

 44 Holding companies 0.0 0.0 0.0 0.0 4.7 7.0 4.3 8.9 13.7 5.3 44

 45 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 Discrepancy -5.1 -3.3 -7.5 -5.8 -7.4 -9.9 -14.6 -18.0 -8.7 -4.4 46
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 65

F.232 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 0.0 -0.1 0.2 0.1 0.2 0.2 0.2 0.3 0.4 0.5 1

 2 Asset: Federal government 0.0 -0.1 0.2 0.1 0.2 0.2 0.2 0.3 0.4 0.5 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 3

 4 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 4

 Equity in govt.-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 0.1 0.3 0.1 -0.2 0.2 -0.0 0.1 0.2 0.5 0.7 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.0 0.0 0.0 0.0 0.1 -0.2 0.0 0.0 0.0 0.0 6

 7 Nonfinancial noncorporate (FCS) 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 7

 8 Federal government -0.0 0.1 -0.0 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 0.1 0.1 0.0 0.0 0.1 0.1 0.0 0.1 0.4 0.5 9

 10 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Property-casualty insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Real estate investment trusts (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 Holding company net transactions with subsidiaries:

 15 Liab.: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 4.0 6.0 5.0 6.0 1.5 6.0 15

 16 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.6 2.4 0.6 -0.3 18

 19 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.3 2.0 19

 20 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.5 1.0 20

 21 Asset: Holding companies 0.0 0.0 0.0 0.0 4.0 6.0 5.6 8.4 7.9 8.7 21

 NFC investment in finance company subsidiaries:

 22 Liab.: Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Asset: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 Funding corporations’ investment in subsidiaries:

 24 Liab.: Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Asset: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 Equity investment under Public-Private Inv. Program:

 27 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Asset: Households (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
Flo

ws

66 Historical Annuals, 1965-1974, March 10, 2016

F.233 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 0.0 0.3 -0.2 -0.1 -0.1 0.0 -0.2 -0.2 0.6 -0.5 1

 2 Asset: Federal government 0.0 0.3 -0.2 -0.1 -0.1 0.0 -0.2 -0.2 0.6 -0.5 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government -0.1 -0.2 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector -0.1 -0.2 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises -0.2 -0.0 0.4 -0.0 -0.3 1.3 -0.5 -0.2 0.2 0.6 6

 7 Asset: U.S.-chartered depository institutions -0.2 -0.0 0.4 -0.0 -0.3 1.3 -0.5 -0.2 0.2 0.6 7

 Funding agreements backing securities (2):

 8 Liab.: Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Asset: ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 Deferred and unpaid life insurance premiums:

 10 Liab.: Household sector 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.4 0.7 10

 11 Asset: Life insurance companies 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.4 0.7 11

 Life insurance company reserves:

 12 Liab.: Life insurance companies 0.7 0.9 0.9 1.0 1.1 1.3 1.3 1.5 1.7 1.7 12

 13 Accident and health 0.2 0.2 0.3 0.3 0.4 0.6 0.4 0.5 0.6 0.7 13

 14 Policy dividend accumulation 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.8 0.9 0.7 14

 15 Contract claims 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.3 0.3 0.3 15

 16 Asset: Household sector 0.7 0.9 0.9 1.0 1.1 1.3 1.3 1.5 1.7 1.7 16

 Policy payables:

 17 Liab.: Property-casualty insurance companies 1.5 1.8 2.1 2.5 3.3 3.4 3.6 4.8 4.8 4.9 17

 18 Asset: Household sector 0.7 0.7 0.8 0.9 1.2 1.4 1.2 1.4 1.4 1.2 18

 19 Nonfinancial corporate business 0.4 0.6 0.7 0.8 1.2 0.9 1.1 1.9 2.0 2.2 19

 20 Nonfinancial noncorporate business 0.4 0.5 0.6 0.7 1.0 1.1 1.3 1.5 1.4 1.5 20

 Unallocated insurance company contracts:

 21 Liab.: Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Asset: Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 State and local government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 Pension fund contributions payable:

 24 Liab.: Nonfinancial corporate business 0.2 0.0 0.2 0.2 0.0 0.1 0.3 0.5 -0.0 -0.0 24

 25 Asset: Private pension funds 0.2 0.0 0.2 0.2 0.0 0.1 0.3 0.5 -0.0 -0.0 25

 Securities borrowed (net):

 26 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Asset: Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 Retiree health care funds (3):

 28 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 Claims of pension fund on sponsor:

 30 Liab.: Nonfinancial corporate business 1.1 3.3 4.7 6.6 11.7 9.5 6.9 -1.6 5.6 7.8 30

 31 Federal government 13.2 14.5 15.7 17.0 18.9 22.9 25.8 27.2 29.2 29.2 31

 32 State and local governments 3.1 2.7 3.5 4.4 5.1 5.4 7.5 8.0 7.7 9.8 32

 33 Asset: Private pension funds 1.1 3.3 4.7 6.6 11.7 9.5 6.9 -1.6 5.6 7.8 33

 34 Federal government retirement funds 13.2 14.5 15.7 17.0 18.9 22.9 25.8 27.2 29.2 29.2 34

 35 State and local govt. retirement funds 3.1 2.7 3.5 4.4 5.1 5.4 7.5 8.0 7.7 9.8 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables F.132 and F.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
Flo

ws

Historical Annuals, 1965-1974, March 10, 2016 67

F.234 Unidentified Miscellaneous Financial Claims

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Net change in liabilities 3.2 -5.3 -1.9 0.1 -2.6 -4.1 6.3 25.9 21.0 -16.0 1

 2 Nonfinancial corporate business -0.3 -2.6 -1.7 -6.8 -8.8 -16.9 -7.2 0.3 -6.5 -5.4 2

 3 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 8.6 2.9 2.7 3.3 5.6 3

 4 Federal government 0.0 -0.1 0.2 0.7 -0.4 0.5 0.8 0.0 -0.4 -0.0 4

 5 Monetary authority -0.3 0.1 0.1 0.3 0.3 0.5 -0.2 -0.0 1.2 -0.2 5

 6 U.S.-chartered depository institutions 3.0 0.1 0.8 5.0 0.2 -1.7 3.1 9.4 7.6 -12.0 6

 7 Foreign banking offices in U.S. 0.3 0.1 -0.0 -0.4 -0.1 -1.8 -1.1 3.9 0.5 -0.6 7

 8 Banks in U.S.-affiliated areas -0.0 0.0 0.0 0.0 -0.0 0.1 0.1 0.1 0.3 -0.2 8

 9 Credit unions -0.1 -0.0 -0.0 -0.0 -0.0 0.0 -0.1 -0.1 0.1 0.3 9

 10 Life insurance companies 0.4 0.4 0.7 0.5 0.3 0.2 0.6 1.1 0.8 1.1 10

 11 Government-sponsored enterprises 0.1 -0.1 0.1 -0.0 0.5 0.5 -0.1 0.4 1.4 -1.0 11

 12 Finance companies -0.2 -3.2 -2.0 0.8 0.6 -0.7 4.2 1.1 3.4 -3.8 12

 13 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.1 1.4 13

 14 Brokers and dealers -0.0 -0.0 -0.0 -0.1 -0.1 -0.0 -0.1 0.8 -3.5 -2.1 14

 15 Holding companies 0.0 0.0 0.0 0.0 4.4 6.9 3.5 6.1 12.3 1.1 15

 16 Funding corporations 0.2 0.3 0.1 0.2 0.6 -0.2 -0.1 -0.1 0.5 -0.3 16

 17 Net change in assets 8.3 -2.0 5.6 5.9 4.8 5.8 20.9 44.0 29.7 -11.6 17

 18 Nonfinancial corporate business 6.4 -2.3 2.0 3.0 3.7 4.1 9.1 23.2 12.1 0.8 18

 19 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 4.0 4.6 2.8 -0.7 19

 20 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 State and local governments -0.0 0.1 0.0 -0.1 -0.1 -0.0 0.1 -0.1 -0.0 -0.1 21

 22 Monetary authority 0.3 0.2 0.2 0.1 0.2 -0.5 0.1 0.2 0.2 1.8 22

 23 U.S.-chartered depository institutions 0.4 -0.1 2.2 0.5 -1.9 -0.8 4.6 4.7 3.2 -9.4 23

 24 Foreign banking offices in U.S. 0.0 0.1 -0.6 0.5 -0.8 -1.4 0.6 1.4 0.1 -0.6 24

 25 Banks in U.S.-affiliated areas 0.0 0.1 0.1 0.1 0.9 0.3 0.1 0.0 0.1 -0.2 25

 26 Credit unions -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 -0.1 26

 27 Life insurance companies 0.2 -0.1 -0.1 0.2 0.4 0.3 0.6 0.4 0.5 0.6 27

 28 Private pension funds 0.6 1.0 1.0 0.8 0.8 0.9 0.8 6.7 3.6 4.6 28

 29 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 30

 31 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Government-sponsored enterprises 0.1 -0.1 0.0 0.0 0.4 0.8 0.2 -0.3 1.0 -1.8 32

 33 Finance companies 0.4 -0.7 0.4 0.6 0.7 1.1 1.7 1.3 1.4 -2.3 33

 34 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.1 -0.6 -0.4 34

 35 Brokers and dealers 0.0 -0.2 0.2 0.1 -0.2 0.1 0.2 0.1 -0.3 -0.7 35

 36 Holding companies 0.0 0.0 0.0 0.0 0.7 1.0 -1.2 0.5 5.8 -3.3 36

 37 Discrepancy -5.1 -3.3 -7.5 -5.8 -7.4 -9.9 -14.6 -18.0 -8.7 -4.4 37
Flo

ws

68 Historical Annuals, 1965-1974, March 10, 2016

F.7 Sector Discrepancies

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 All sectors -5.6 -11.3 -10.5 -5.5 -13.2 -11.6 -19.9 -23.2 -17.2 5.6 1

 2 Household sector -12.0 -22.0 -8.1 -23.2 -22.4 -26.1 -20.4 -28.5 -42.2 -12.8 2

 3 Nonfinancial corporate business 9.7 14.0 9.1 10.2 9.1 11.5 9.6 1.1 30.0 10.8 3

 4 Federal government -0.4 -2.1 -0.7 3.1 0.8 -2.1 -0.5 -1.7 -0.5 0.9 4

 5 State and local governments -1.3 -0.3 -0.4 -0.6 3.9 5.1 4.6 3.4 -1.6 4.5 5

 6 Domestic financial sectors -0.0 0.1 -8.9 5.9 4.5 4.0 1.2 4.8 -4.3 3.9 6

 7 Monetary authority -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.2 -0.0 0.0 -0.0 7

 8 U.S.-chartered depository institutions 1.6 1.1 -8.3 8.3 5.0 7.0 3.6 7.4 -2.3 4.0 8

 9 Foreign banking officed in U.S. -0.0 -0.0 0.1 -0.0 0.1 0.1 -0.1 -0.3 0.2 1.5 9

 10 Banks in U.S.-affiliated areas -0.0 0.0 0.0 0.0 -0.0 0.1 0.1 0.1 0.2 -0.2 10

 11 Credit unions -0.0 -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 0.1 0.3 11

 12 Property-casualty insurance companies 0.2 0.2 0.5 -0.2 0.8 -1.1 -1.2 -0.8 -0.3 0.3 12

 13 Life insurance companies -0.2 0.1 0.2 0.0 0.7 0.5 1.0 0.4 -0.2 0.5 13

 14 Mutual funds -0.1 0.1 0.2 0.1 0.1 -0.1 -0.0 -0.0 -0.3 -0.2 14

 15 Government-sponsored enterprises -0.0 0.0 -0.0 0.0 0.1 -0.1 0.0 0.0 0.3 0.4 15

 16 Issuers of asset-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Finance companies -0.5 -0.6 -0.7 -1.3 -1.1 -1.1 -0.4 -0.2 -0.3 -1.0 17

 18 REITs -0.1 -0.1 -0.1 -0.1 -0.1 -0.0 0.0 -0.0 0.1 0.2 18

 19 Brokers and dealers -0.2 -0.0 -0.2 -0.2 -0.2 -0.4 -0.5 -0.4 -0.3 -0.0 19

 20 Holding companies -0.6 -0.7 -0.6 -0.7 -0.8 -0.9 -1.1 -1.4 -1.5 -1.9 20

 21 Rest of the world -1.5 -0.9 -1.5 -0.9 -9.2 -4.0 -14.4 -2.4 1.3 -1.7 21

F.8 Instrument Discrepancies

Billions of dollars

 1 All types -5.6 -11.3 -10.5 -5.5 -13.2 -11.6 -19.9 -23.2 -17.2 5.6 1

 2 Treasury currency 0.1 0.2 0.2 0.2 0.2 -0.1 0.0 -0.2 0.0 -0.1 2

 3 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Net interbank transactions 0.1 1.5 -0.0 1.2 0.6 -0.2 -2.1 -5.9 0.6 1.8 4

 5 Security repurchase agreements -1.6 -2.6 1.8 0.8 -3.2 2.0 1.2 2.1 -3.3 7.4 5

 6 Mail floats 1.9 2.3 0.2 4.5 -0.0 0.4 0.5 5.3 -0.1 0.4 6

 7 Federal government 0.4 -0.0 0.6 1.0 -0.9 -1.0 -0.4 0.6 0.3 -0.1 7

 8 State and local governments 1.3 0.3 -0.2 2.0 -1.2 1.2 -1.1 0.2 0.3 0.0 8

 9 Private domestic 0.1 2.1 -0.2 1.5 2.1 0.2 2.0 4.5 -0.6 0.4 9

 10 Trade credit -0.9 -4.7 -2.5 -3.3 -3.3 1.2 3.4 -1.4 -1.4 1.0 10

 11 Taxes payable 0.8 0.5 0.6 0.2 1.7 0.6 1.4 2.5 2.3 7.3 11

 12 Miscellaneous -5.1 -3.3 -7.5 -5.8 -7.4 -9.9 -14.6 -18.0 -8.7 -4.4 12

 13 Nonfinancial -0.9 -5.2 -3.5 -3.3 -1.8 -5.6 -9.8 -7.5 -6.6 -8.0 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) 0.8 5.1 3.4 3.2 1.6 5.4 9.5 7.1 6.1 7.4 14

 15 Contr. for govt. soc. insur., U.S. affiliated areas 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.4 0.5 0.6 15
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 69

L.100 Domestic Nonfinancial Sectors (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 2625.0 2695.7 2991.4 3326.0 3359.3 3527.8 3918.3 4459.1 4625.8 4739.0 1

 2 U.S. official reserve assets 1.4 0.9 1.3 3.3 4.7 3.6 2.2 2.6 2.9 4.3 2

 3 Foreign deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 3

 4 Checkable deposits and currency 159.7 161.0 175.8 184.6 192.2 202.7 219.1 234.7 248.2 250.5 4

 5 Time and savings deposits 309.9 329.4 368.0 400.8 398.2 453.7 534.3 618.3 691.7 758.3 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 6

 7 Security repurchase agreements -0.1 1.7 0.9 -0.2 5.9 -1.2 0.2 1.7 11.8 4.2 7

 8 Debt securities 172.1 190.0 191.5 203.7 243.4 242.7 239.0 242.3 273.2 322.1 8

 9 Open market paper 7.4 11.1 14.1 17.3 26.2 26.0 25.0 23.6 29.0 39.0 9

 10 Treasury securities 106.8 110.2 107.4 110.9 122.3 113.0 106.7 110.2 118.2 126.6 10

 11 Agency- and GSE-backed securities 5.5 10.6 11.3 15.1 20.6 22.3 18.6 16.3 23.3 32.7 11

 12 Municipal securities 43.3 46.9 43.6 42.4 52.3 51.7 51.3 53.7 61.2 69.4 12

 13 Corporate and foreign bonds 9.0 11.1 15.1 18.0 22.0 29.7 37.4 38.5 41.5 54.4 13

 14 Loans 99.9 106.4 115.5 125.7 129.1 135.8 140.0 145.0 150.5 165.0 14

 15 Other loans and advances 31.4 34.5 40.4 46.5 47.7 51.2 53.7 55.4 59.5 63.0 15

 16 Mortgages 51.3 54.5 57.5 61.6 63.7 66.1 65.3 68.0 68.4 78.6 16

 17 Consumer credit 17.3 17.4 17.6 17.6 17.7 18.5 21.0 21.6 22.6 23.4 17

 18 Corporate equities 616.1 548.3 682.1 815.3 667.4 650.2 743.7 921.4 693.9 445.0 18

 19 Mutual fund shares 34.7 34.3 43.6 50.4 46.3 45.1 53.7 57.1 44.5 32.6 19

 20 Trade receivables 138.5 153.4 164.3 183.0 208.4 215.2 228.3 256.0 300.6 277.9 20

 21 Life insurance reserves 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 21

 22 Pension entitlements 397.9 433.6 471.8 520.1 573.5 639.5 714.6 804.2 852.6 930.2 22

 23 Taxes payable 7.6 5.4 5.8 6.9 4.4 2.2 6.6 9.0 11.7 14.3 23

 24 Equity in noncorporate business 485.0 518.5 543.2 588.3 623.3 654.6 720.9 802.1 938.1 1051.0 24

 25 U.S. direct investment abroad 53.3 56.7 63.0 70.8 79.8 90.6 99.6 120.5 120.3 128.2 25

 26 Miscellaneous assets 42.2 44.6 47.9 51.3 56.3 61.5 77.7 98.1 131.3 189.5 26

 27 Total liabilities 1422.5 1521.8 1636.0 1767.5 1903.3 2032.3 2235.7 2475.7 2747.4 2935.1 27

 28 U.S. official reserve assets 0.0 0.0 0.0 0.0 0.0 0.9 1.7 2.5 2.8 2.8 28

 29 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 29

 30 Treasury currency 3.1 4.0 4.6 5.1 5.3 5.6 6.0 6.6 7.0 7.3 30

 31 Debt securities 477.9 500.0 537.6 574.0 596.9 644.9 706.8 751.9 788.5 842.4 31

 32 Open market paper 0.8 1.6 3.0 4.2 5.4 7.1 6.2 7.0 8.4 12.5 32

 33 Treasury securities 276.7 280.3 290.5 301.2 302.0 317.5 346.3 363.5 372.2 387.1 33

 34 Agency- and GSE-backed securities 2.7 4.0 8.2 11.3 9.0 8.1 7.0 7.9 8.4 8.2 34

 35 Municipal securities 100.4 106.6 113.8 122.1 133.5 145.5 161.7 175.8 192.7 208.0 35

 36 Corporate and foreign bonds 97.3 107.5 122.1 135.0 147.0 166.8 185.6 197.8 206.9 226.6 36

 37 Loans 556.2 602.7 653.3 705.7 768.0 811.5 889.4 1007.1 1152.3 1273.3 37

 38 Depository institution loans n.e.c. 79.9 91.4 107.3 112.0 125.1 131.5 138.7 155.0 190.9 225.9 38

 39 Other loans and advances 44.3 49.3 55.4 63.2 74.2 77.6 84.3 94.7 103.3 118.6 39

 40 Mortgages 334.5 358.5 382.1 411.2 439.5 468.8 517.2 588.6 665.1 726.8 40

 41 Consumer credit 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 41

 42 Trade payables 129.6 140.3 149.1 165.8 188.6 197.6 213.6 241.5 297.3 242.6 42

 43 Life insurance reserves 7.0 7.1 7.2 7.2 7.3 7.4 7.4 7.6 7.8 7.9 43

 44 Taxes payable 18.3 17.4 13.2 14.3 12.6 10.0 14.1 18.0 23.3 30.1 44

 45 Foreign direct investment in U.S. 6.6 7.1 7.8 8.5 9.8 11.4 11.5 12.3 15.0 19.9 45

 46 Miscellaneous liabilities 223.8 243.1 263.1 286.9 314.7 342.8 384.7 427.7 453.1 508.4 46

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

e

v

els

70 Historical Annuals, 1965-1974, March 10, 2016

L.101 Households and Nonprofit Organizations (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 2207.7 2255.4 2520.8 2810.9 2797.2 2936.2 3260.3 3703.3 3752.3 3800.3 1

 2 Deposits 380.1 400.6 446.1 485.3 492.2 542.1 623.1 708.6 777.4 840.8 2

 3 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Checkable deposits and currency 91.6 93.5 103.8 112.7 110.9 118.6 132.1 144.4 152.5 157.4 4

 5 Time and savings deposits 288.5 307.1 342.3 372.5 381.3 423.5 491.0 564.2 624.9 681.0 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 6

 7 Debt securities 127.5 145.5 148.7 154.5 192.3 192.4 185.9 181.8 207.5 249.0 7

 8 Open market paper 6.0 8.3 10.1 12.2 18.5 16.6 13.8 9.3 14.1 22.5 8

 9 Treasury securities 74.8 79.1 79.0 81.7 93.2 83.0 74.2 77.4 88.5 96.3 9

 10 Agency- and GSE-backed securities 1.1 5.9 6.3 6.1 11.3 15.9 14.6 8.9 8.3 13.7 10

 11 Municipal securities 36.5 41.2 38.2 36.5 47.2 47.1 46.0 47.7 55.1 62.2 11

 12 Corporate and foreign bonds 9.0 11.1 15.1 18.0 22.0 29.7 37.4 38.5 41.5 54.4 12

 13 Loans 42.3 44.6 48.8 54.0 51.9 53.7 50.9 51.0 50.8 54.0 13

 14 Other loans and advances (2) -0.3 -0.1 2.2 4.9 2.7 3.6 3.6 2.7 3.6 3.4 14

 15 Mortgages 42.6 44.6 46.6 49.1 49.2 50.1 47.3 48.3 47.2 50.6 15

 16 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Corporate equities (3) 616.1 548.3 682.1 815.3 667.4 650.2 743.7 921.4 693.9 445.0 17

 18 Mutual fund shares 34.4 33.9 43.0 49.5 45.6 44.5 53.0 56.4 43.7 31.8 18

 19 Life insurance reserves 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 19

 20 Pension entitlements (4) 397.9 433.6 471.8 520.1 573.5 639.5 714.6 804.2 852.6 930.2 20

 21 Claims of pension fund on sponsor 235.9 261.1 276.2 301.3 342.5 385.7 421.1 454.9 494.1 562.7 21

 22 Funded pension entitlements 162.0 172.5 195.6 218.7 230.9 253.7 293.5 349.3 358.5 367.5 22

 23 Equity in noncorporate business 485.0 518.5 543.2 588.3 623.3 654.6 720.9 802.1 938.1 1051.0 23

 24 Miscellaneous assets 18.5 19.9 21.7 23.6 25.8 28.5 31.1 34.0 37.1 40.0 24

 25 Total liabilities 352.8 376.0 410.9 436.1 463.8 478.7 524.1 585.4 652.0 707.8 25

 26 Debt securities (municipal securities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 1.3 26

 27 Loans 345.9 368.4 402.3 426.7 453.3 467.2 511.3 571.3 636.3 689.4 27

 28 Home mortgages (5) 219.4 232.7 246.0 262.9 278.7 286.0 309.5 343.6 382.2 419.3 28

 29 Consumer credit 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 29

 30 Depository institution loans n.e.c. (6) 4.7 5.4 13.4 6.8 7.6 7.5 8.1 8.6 11.9 16.7 30

 31 Other loans and advances 16.0 17.9 22.4 27.3 26.8 28.1 32.0 37.1 35.3 37.0 31

 32 Commercial mortgages 8.3 9.0 12.0 10.3 11.0 11.9 12.5 13.2 13.9 14.5 32

 33 Trade payables 3.6 4.0 4.6 5.2 5.8 6.5 7.3 8.2 8.9 10.1 33

 34 Deferred and unpaid life insurance premiums 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 34

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

 outstandings of nonprofit organizations.

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

(3) Directly held shares, including shares of closed-end and exchange-traded funds shares. Other equities are included in mutual fund shares (line 18), life insurance reserves (line 19) and pension entitlements (line 20).

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

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

(6) Includes loans extended by the Federal Reserve to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF), shown on table L.109, line 19.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 71

L.102 Nonfinancial Business (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 299.4 314.8 333.9 366.8 403.0 426.3 477.7 556.1 647.3 696.4 1

 2 Foreign deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 2

 3 Checkable deposits and currency 51.5 50.9 53.4 56.3 62.0 63.1 61.7 64.4 70.4 71.9 3

 4 Time and savings deposits 9.0 8.6 9.7 9.1 3.7 6.7 12.5 16.5 22.8 28.2 4

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

 6 Security repurchase agreements 0.6 0.9 0.7 1.1 3.3 0.2 1.1 2.7 11.3 5.5 6

 7 Debt securities 19.8 18.6 17.0 19.6 18.3 19.8 25.3 27.4 24.6 28.0 7

 8 Commercial paper 1.4 2.9 4.0 5.1 7.6 9.4 11.3 14.2 14.9 16.5 8

 9 Treasury securities 12.5 11.1 8.7 9.3 6.1 7.0 10.0 8.0 3.7 3.9 9

 10 Agency- and GSE-backed securities 1.2 1.0 1.0 1.4 1.7 1.2 0.9 1.0 2.0 3.0 10

 11 Municipal securities 4.6 3.6 3.3 3.8 2.8 2.2 3.2 4.2 4.0 4.7 11

 12 Loans 17.4 17.5 17.7 17.7 18.3 19.4 23.1 24.9 26.2 27.5 12

 13 Mortgages 0.1 0.1 0.1 0.1 0.5 0.9 2.1 3.2 3.6 4.1 13

 14 Consumer credit 17.3 17.4 17.6 17.6 17.7 18.5 21.0 21.6 22.6 23.4 14

 15 Mutual fund shares 0.3 0.4 0.6 0.8 0.7 0.6 0.7 0.7 0.8 0.8 15

 16 Trade receivables 128.8 141.8 150.6 167.8 191.1 198.0 211.9 239.0 280.4 258.8 16

 17 U.S. direct investment abroad 53.3 56.7 63.0 70.8 79.8 90.6 99.6 120.5 120.3 128.2 17

 18 Miscellaneous assets 17.9 18.6 20.1 21.9 24.7 27.0 40.5 57.9 87.2 142.5 18

 19 Total liabilities 445.4 488.1 526.4 584.4 655.0 709.0 781.7 883.0 1040.7 1092.7 19

 20 Debt securities 98.1 109.1 125.2 139.3 152.4 173.9 191.9 205.4 217.7 243.2 20

 21 Commercial paper 0.8 1.6 3.0 4.2 5.4 7.1 6.2 7.0 8.4 12.5 21

 22 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 2.4 4.1 22

 23 Corporate bonds 97.3 107.5 122.1 135.0 147.0 166.8 185.6 197.8 206.9 226.6 23

 24 Loans 205.7 229.1 245.7 273.4 308.4 338.1 371.5 429.0 509.9 577.1 24

 25 Depository institution loans n.e.c. 75.2 86.0 93.9 105.2 117.5 124.0 130.6 146.4 179.0 209.3 25

 26 Other loans and advances 25.6 28.0 29.4 31.9 42.7 44.7 47.1 52.1 63.1 76.0 26

 27 Mortgages 105.0 115.1 122.4 136.3 148.2 169.4 193.8 230.5 267.7 291.9 27

 28 Trade payables 107.6 115.6 121.5 135.8 156.0 163.2 177.0 201.3 252.8 192.7 28

 29 Taxes payable 18.3 17.4 13.2 14.3 12.6 10.0 14.1 18.0 23.3 30.1 29

 30 Foreign direct investment in U.S. 6.6 7.1 7.8 8.5 9.8 11.4 11.5 12.3 15.0 19.9 30

 31 Miscellaneous liabilities 9.1 9.7 13.0 13.1 15.8 12.6 15.7 17.0 22.0 29.7 31

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

e

v

els

72 Historical Annuals, 1965-1974, March 10, 2016

L.103 Nonfinancial Corporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 262.7 277.1 294.9 327.9 362.2 383.6 425.2 493.6 571.7 616.1 1

 2 Foreign deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 2

 3 Checkable deposits and currency 33.3 32.6 35.1 37.8 43.4 44.4 42.9 45.3 46.7 48.2 3

 4 Time and savings deposits 9.0 8.6 9.7 9.1 3.7 5.3 9.5 11.9 16.6 20.5 4

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

 6 Security repurchase agreements 0.6 0.9 0.7 1.1 3.3 0.2 1.1 2.7 11.3 5.5 6

 7 Debt securities 19.8 18.6 16.9 19.3 17.8 19.1 24.4 26.3 23.4 26.7 7

 8 Commercial paper 1.4 2.9 4.0 5.1 7.6 9.4 11.3 14.2 14.9 16.5 8

 9 Treasury securities 12.5 11.1 8.6 9.0 5.6 6.3 9.1 6.9 2.5 2.6 9

 10 Agency- and GSE-backed securities 1.2 1.0 1.0 1.4 1.7 1.2 0.9 1.0 2.0 3.0 10

 11 Municipal securities 4.6 3.6 3.3 3.8 2.8 2.2 3.2 4.2 4.0 4.7 11

 12 Loans 13.3 13.5 13.8 13.9 14.3 14.9 17.6 18.2 19.5 21.0 12

 13 Mortgages 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 13

 14 Consumer credit 13.2 13.4 13.7 13.8 14.0 14.7 17.3 18.0 19.2 20.3 14

 15 Mutual fund shares 0.3 0.4 0.6 0.8 0.7 0.6 0.7 0.7 0.8 0.8 15

 16 Trade receivables 120.9 133.3 141.6 160.1 182.9 191.4 203.8 230.2 269.3 245.5 16

 17 U.S. direct investment abroad (1) 53.3 56.7 63.0 70.8 79.8 90.6 99.6 120.5 120.3 128.2 17

 18 Miscellaneous assets 11.4 11.6 12.4 13.4 15.1 16.3 24.4 35.6 60.5 114.7 18

 19 Insurance receivables 6.9 7.4 8.1 8.9 10.1 11.0 12.1 14.0 16.0 18.1 19

 20 Equity in GSEs 0.1 0.1 0.2 0.2 0.3 0.0 0.0 0.0 0.1 0.1 20

 21 Investment in finance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other 4.4 4.0 4.2 4.3 4.7 5.2 12.3 21.6 44.5 96.5 22

 23 Total liabilities 336.9 371.1 399.1 448.2 502.9 542.3 588.2 652.8 764.6 769.2 23

 24 Debt securities 98.1 109.1 125.2 139.3 152.4 173.9 191.9 205.4 217.7 243.2 24

 25 Commercial paper 0.8 1.6 3.0 4.2 5.4 7.1 6.2 7.0 8.4 12.5 25

 26 Municipal securities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 2.4 4.1 26

 27 Corporate bonds (1) 97.3 107.5 122.1 135.0 147.0 166.8 185.6 197.8 206.9 226.6 27

 28 Loans 110.1 123.8 130.1 146.8 166.5 189.5 200.3 226.5 279.7 309.9 28

 29 Depository institution loans n.e.c. 61.1 69.7 76.3 86.1 95.7 101.7 106.2 119.2 134.1 156.1 29

 30 Other loans and advances (3) 14.9 16.4 16.6 18.3 27.6 28.0 29.2 33.1 40.8 50.1 30

 31 Mortgages 34.1 37.7 37.2 42.4 43.3 59.8 64.9 74.2 104.8 103.7 31

 32 Trade payables 94.9 104.1 110.0 126.5 146.0 153.8 167.5 190.7 228.8 165.6 32

 33 Taxes payable 18.3 17.4 13.2 14.3 12.6 10.0 13.1 15.5 19.3 24.5 33

 34 Foreign direct investment in U.S. 6.4 6.9 7.6 8.3 9.6 11.1 11.2 11.9 14.6 19.3 34

 35 Miscellaneous liabilities 9.1 9.7 13.0 13.1 15.8 4.0 4.2 2.9 4.5 6.7 35

 36 Pension fund contributions payable 1.2 1.2 1.5 1.7 1.7 1.9 2.2 2.7 2.7 2.7 36

 37 Claims of pension fund on sponsor 25.0 32.2 31.1 33.1 49.2 60.9 57.9 50.5 69.7 92.8 37

 38 Other -17.2 -23.8 -19.6 -21.6 -35.1 -58.8 -55.8 -50.3 -67.9 -88.8 38

 Memo:

 39 Market value of equities 623.8 547.9 712.2 843.2 705.1 702.2 823.8 1032.7 809.4 557.6 39

 40 Total liquid assets (4) 63.8 62.0 64.0 69.7 70.1 70.5 79.9 89.1 102.1 106.6 40

 41 Total short-term liabilities (5) 190.0 209.3 219.1 249.5 287.2 300.7 322.2 365.5 431.4 408.8 41

 42 Liquid assets/short-term liabilities (percent) 33.56 29.63 29.21 27.95 24.40 23.43 24.78 24.38 23.67 26.08 42

 43 Short-term debt/total debt (percent) (6) 36.90 37.68 37.56 37.98 40.32 37.66 36.11 36.88 36.84 39.54 43

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

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

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

(4) Sum of lines 2 through 7 and line 15.

(5) Sum of lines 25, 29, 30, 32, and 33. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(6) Short-term debt is the sum of lines 25, 29, and 30. Total debt is the sum of lines 24 and 28.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 73

L.104 Nonfinancial Noncorporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 36.7 37.7 39.0 38.8 40.8 42.7 52.5 62.5 75.6 80.3 1

 2 Checkable deposits and currency 18.2 18.2 18.3 18.5 18.6 18.7 18.8 19.1 23.7 23.7 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 1.4 3.0 4.6 6.2 7.8 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Debt securities 0.0 0.0 0.1 0.3 0.5 0.7 0.9 1.1 1.2 1.2 5

 6 Treasury securities 0.0 0.0 0.1 0.3 0.5 0.7 0.9 1.1 1.2 1.2 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Loans 4.0 4.0 3.9 3.9 4.0 4.5 5.6 6.6 6.7 6.5 8

 9 Mortgages 0.0 0.0 0.0 0.0 0.3 0.7 1.9 3.0 3.3 3.4 9

 10 Consumer credit 4.0 4.0 3.9 3.9 3.7 3.8 3.7 3.6 3.4 3.1 10

 11 Trade receivables 7.9 8.5 9.0 7.7 8.1 6.6 8.1 8.8 11.1 13.3 11

 12 Miscellaneous assets 6.5 7.0 7.7 8.5 9.6 10.7 16.1 22.3 26.7 27.8 12

 13 Insurance receivables 6.1 6.6 7.2 7.9 8.9 10.0 11.2 12.8 14.2 15.7 13

 14 Equity investment in GSEs (1) 0.4 0.5 0.5 0.6 0.7 0.8 0.8 0.9 1.1 1.3 14

 15 Other 0.0 0.0 0.0 0.0 0.0 0.0 4.0 8.6 11.4 10.8 15

 16 Total liabilities 108.5 117.0 127.3 136.2 152.2 166.7 193.5 230.2 276.0 323.5 16

 17 Loans 95.6 105.3 115.6 126.6 141.9 148.6 171.2 202.6 230.1 267.2 17

 18 Depository institution loans n.e.c. 14.0 16.3 17.7 19.1 21.9 22.3 24.5 27.2 44.9 53.2 18

 19 Other loans and advances 10.7 11.6 12.8 13.6 15.1 16.6 17.8 19.0 22.3 25.9 19

 20 Mortgages 70.9 77.4 85.2 93.9 104.9 109.6 128.9 156.3 162.9 188.1 20

 21 Trade payables 12.8 11.5 11.5 9.4 10.0 9.3 9.5 10.7 24.0 27.1 21

 22 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.5 4.0 5.5 22

 23 Foreign direct investment in U.S. 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.6 23

 24 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 8.6 11.5 14.2 17.4 23.0 24

(1) Equity in the Farm Credit System.
L

e

v

els

74 Historical Annuals, 1965-1974, March 10, 2016

L.105 General Government (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 117.9 125.5 136.7 148.4 159.2 165.3 180.3 199.6 226.3 242.3 1

 2 U.S. official reserve assets 1.4 0.9 1.3 3.3 4.7 3.6 2.2 2.6 2.9 4.3 2

 3 Checkable deposits and currency 16.6 16.7 18.6 15.5 19.3 21.1 25.3 26.0 25.3 21.2 3

 4 Time and savings deposits 12.4 13.7 16.0 19.2 13.3 23.5 30.8 37.6 44.0 49.0 4

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

 6 Security repurchase agreements -0.7 0.8 0.3 -1.3 2.6 -1.4 -0.9 -1.0 0.5 -1.3 6

 7 Debt securities 24.8 25.9 25.9 29.7 32.9 30.5 27.7 33.1 41.1 45.2 7

 8 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities 19.5 20.1 19.7 19.9 23.0 22.9 22.6 24.9 26.1 26.5 9

 10 Agency- and GSE-backed securities 3.1 3.7 4.0 7.6 7.6 5.2 3.0 6.3 13.0 16.0 10

 11 Municipal securities 2.2 2.1 2.1 2.2 2.2 2.4 2.1 1.8 2.1 2.6 11

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Loans 40.3 44.3 49.0 54.0 58.9 62.7 65.9 69.2 73.5 83.4 13

 14 Mortgages 8.6 9.8 10.8 12.5 13.9 15.1 15.8 16.5 17.6 23.8 14

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

 16 Other loans and advances 31.7 34.6 38.2 41.6 45.0 47.6 50.1 52.7 55.9 59.6 16

 17 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Trade receivables 9.7 11.6 13.7 15.2 17.3 17.2 16.4 17.0 20.1 19.1 19

 20 Taxes receivable 7.6 5.4 5.8 6.9 4.4 2.2 6.6 9.0 11.7 14.3 20

 21 Miscellaneous assets 5.8 6.2 6.1 5.8 5.8 6.0 6.1 6.2 7.1 7.0 21

 22 Total liabilities 624.3 657.7 698.7 746.9 784.5 844.6 929.9 1007.2 1054.8 1134.5 22

 23 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 1.7 2.5 2.8 2.8 23

 24 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 24

 25 Treasury currency 3.1 4.0 4.6 5.1 5.3 5.6 6.0 6.6 7.0 7.3 25

 26 Debt securities 379.8 391.0 412.4 434.7 444.5 471.0 514.9 546.6 570.4 597.9 26

 27 Treasury securities 279.4 284.3 298.6 312.6 311.0 325.5 353.3 371.4 380.6 395.3 27

 28 Municipal securities 100.4 106.6 113.8 122.1 133.5 145.5 161.6 175.2 189.9 202.6 28

 29 Loans 4.6 5.2 5.3 5.6 6.3 6.3 6.6 6.9 6.2 6.8 29

 30 Multifamily residential mortgages 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3 1.3 1.2 30

 31 Other loans and advances 2.8 3.4 3.6 4.0 4.7 4.8 5.2 5.5 4.9 5.6 31

 32 Trade payables 18.4 20.7 23.0 24.9 26.8 28.0 29.2 32.0 35.5 39.8 32

 33 Insurance reserves 7.0 7.1 7.2 7.2 7.3 7.4 7.4 7.6 7.8 7.9 33

 34 Miscellaneous liabilities 211.4 229.8 246.1 269.5 294.2 325.1 363.6 404.7 424.7 471.6 34

 Memo:

 35 Total financial assets (consolidated) (2) 95.6 102.0 113.4 124.5 131.4 137.6 152.5 169.2 195.4 210.2 35

 36 Total liabilities (consolidated) (2) 602.0 634.2 675.4 723.0 756.7 816.8 902.1 976.8 1023.8 1102.4 36

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

(2) Excludes Treasury securities held by state and local governments (line 9) and federal government loans to state and local governments (line 31).
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 75

L.106 Federal Government

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 61.3 64.9 72.7 78.6 83.3 85.3 91.1 93.3 97.8 104.3 1

 2 U.S. official reserve assets 1.4 0.9 1.3 3.3 4.7 3.6 2.2 2.6 2.9 4.3 2

 3 Checkable deposits and currency 6.8 6.4 7.5 5.1 6.9 9.8 13.2 13.3 12.6 8.3 3

 4 Time and savings deposits 0.3 0.2 0.3 0.4 0.2 0.5 0.5 0.6 0.4 0.5 4

 5 Debt securities 0.0 1.4 1.3 1.4 0.1 0.0 0.0 0.0 0.0 0.0 5

 6 Agency- and GSE-backed securities 0.0 1.4 1.3 1.4 0.1 0.0 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Loans 37.5 41.4 46.0 50.8 55.3 58.2 60.3 62.1 64.8 72.2 8

 9 Other loans and advances 31.7 34.6 38.2 41.6 45.0 47.6 50.1 52.7 55.9 59.6 9

 10 Mortgages 5.9 6.9 7.8 9.3 10.2 10.5 10.2 9.5 8.9 12.6 10

 11 Consumer credit (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Trade receivables 3.1 4.4 5.8 6.4 7.3 6.6 4.9 4.0 4.3 5.3 13

 14 Taxes receivable 6.8 4.5 4.8 5.7 3.3 0.9 4.1 4.7 5.8 6.8 14

 15 Miscellaneous assets 5.4 5.7 5.7 5.4 5.5 5.8 5.8 5.9 6.9 6.9 15

 16 Total liabilities 475.4 496.4 527.7 558.9 574.7 619.6 672.9 719.4 759.0 805.5 16

 17 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 1.7 2.5 2.8 2.8 17

 18 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 18

 19 Treasury currency 3.1 4.0 4.6 5.1 5.3 5.6 6.0 6.6 7.0 7.3 19

 20 Debt securities 279.4 284.3 298.6 312.6 311.0 325.5 353.3 371.4 380.6 395.3 20

 21 Treasury securities (3) 276.7 280.3 290.5 301.2 302.0 317.5 346.3 363.5 372.2 387.1 21

 22 Marketable 207.0 208.1 216.9 225.7 224.7 237.7 261.4 272.4 276.4 261.9 22

 23 Nonmarketable 69.7 72.2 73.6 75.5 77.2 79.8 84.9 91.1 95.9 125.2 23

 24 Budget agency securities 2.7 4.0 8.2 11.3 9.0 8.1 7.0 7.9 8.4 8.2 24

 25 Loans (multifamily residential mortgages) 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3 1.3 1.2 25

 26 Trade payables 5.0 5.8 6.5 6.5 6.4 5.4 4.2 4.4 5.2 6.2 26

 27 Insurance reserves 7.0 7.1 7.2 7.2 7.3 7.4 7.4 7.6 7.8 7.9 27

 28 Miscellaneous liabilities 179.0 193.4 209.0 225.9 243.2 273.0 298.3 325.2 354.1 384.5 28

 29 Claims of pension fund on sponsor 178.4 192.6 208.0 224.7 242.3 272.7 298.0 324.9 353.8 382.8 29

 30 Other 0.6 0.8 1.0 1.2 0.9 0.3 0.3 0.3 0.3 1.7 30

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

 the government purchased from depository institutions and finance companies.

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

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

e

v

els

76 Historical Annuals, 1965-1974, March 10, 2016

L.107 State and Local Governments (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 56.6 60.6 64.0 69.8 75.8 80.1 89.2 106.3 128.5 138.0 1

 2 Checkable deposits and currency 9.8 10.3 11.1 10.4 12.3 11.3 12.1 12.7 12.7 12.9 2

 3 Time and savings deposits 12.2 13.5 15.7 18.9 13.1 23.0 30.2 37.0 43.6 48.5 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements -0.7 0.8 0.3 -1.3 2.6 -1.4 -0.9 -1.0 0.5 -1.3 5

 6 Debt securities 24.8 24.6 24.6 28.3 32.8 30.5 27.7 33.1 41.1 45.2 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 19.5 20.1 19.7 19.9 23.0 22.9 22.6 24.9 26.1 26.5 8

 9 Agency- and GSE-backed securities 3.1 2.4 2.8 6.2 7.5 5.2 3.0 6.3 13.0 16.0 9

 10 Municipal securities 2.2 2.1 2.1 2.2 2.2 2.4 2.1 1.8 2.1 2.6 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Loans (mortgages) 2.7 2.9 3.0 3.2 3.7 4.6 5.6 7.0 8.7 11.2 12

 13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Trade receivables 6.6 7.2 7.8 8.8 10.0 10.6 11.6 13.0 15.8 13.8 15

 16 Taxes receivable 0.9 0.9 1.0 1.2 1.2 1.3 2.5 4.3 5.9 7.6 16

 17 Miscellaneous assets 0.3 0.5 0.5 0.4 0.3 0.2 0.3 0.2 0.2 0.1 17

 18 Total liabilities 148.9 161.2 171.0 188.1 209.7 225.0 257.0 287.8 295.7 329.0 18

 19 Debt securities (municipal securities) 100.4 106.6 113.8 122.1 133.5 145.5 161.6 175.2 189.9 202.6 19

 20 Short-term (2) 5.5 6.2 8.0 8.1 10.9 13.3 15.7 15.8 16.1 18.8 20

 21 Long-term 94.9 100.5 105.8 114.0 122.6 132.2 145.8 159.4 173.8 183.8 21

 22 Loans (U.S. government loans) 2.8 3.4 3.6 4.0 4.7 4.8 5.2 5.5 4.9 5.6 22

 23 Trade payables 13.3 14.8 16.5 18.4 20.4 22.6 25.0 27.5 30.3 33.6 23

 24 Claims of pension fund on sponsor (3) 32.5 36.3 37.1 43.6 51.1 52.1 65.3 79.5 70.6 87.1 24

(1) Data for state and local government employee retirement funds are shown on table L.120.

(2) Debt with original maturity of 13 months or less.

(3) Included in miscellaneous liabilities.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 77

L.108 Domestic Financial Sectors (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 1281.4 1366.2 1500.7 1641.2 1758.6 1925.1 2160.1 2448.7 2690.7 2899.0 1

 2 U.S. official reserve assets 14.3 14.0 13.5 12.4 12.3 10.9 10.1 10.5 11.5 11.6 2

 3 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 3

 4 Treasury currency 5.4 6.2 6.6 6.8 6.8 7.1 7.6 8.3 8.7 9.3 4

 5 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Net interbank assets 25.6 27.9 29.6 32.7 33.0 35.8 39.7 40.3 42.1 39.8 6

 7 Checkable deposits and currency 6.5 6.6 6.9 7.8 7.7 7.9 8.7 9.8 10.3 11.0 7

 8 Time and savings deposits 3.4 4.0 4.7 5.5 6.2 7.2 8.2 9.5 11.7 16.0 8

 9 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Federal funds and security repos 3.6 4.8 5.9 8.7 13.1 20.1 25.6 32.1 41.0 54.9 10

 11 Debt securities 340.9 356.9 395.2 425.2 431.1 481.5 531.6 580.8 618.2 661.2 11

 12 Open market paper 3.3 3.9 5.1 5.6 8.1 9.9 10.9 14.0 16.7 24.0 12

 13 Treasury securities 156.8 158.9 169.8 177.7 169.4 184.8 193.3 198.8 199.7 202.2 13

 14 Agency- and GSE-backed securities 10.5 12.0 15.2 18.0 19.6 26.4 35.0 46.4 59.7 70.7 14

 15 Municipal securities 57.1 59.7 70.2 79.7 81.2 93.8 110.4 122.1 131.5 138.6 15

 16 Corporate and foreign bonds 113.1 122.4 134.9 144.2 152.7 166.6 182.1 199.5 210.7 225.8 16

 17 Loans 511.4 553.6 598.0 648.2 711.6 755.0 832.4 959.7 1115.5 1239.6 17

 18 Depository institution loans n.e.c. 107.7 119.2 135.3 142.0 155.4 163.9 175.3 206.0 247.2 286.0 18

 19 Other loans and advances 40.2 44.4 47.1 54.7 68.5 72.7 76.3 84.7 99.8 125.2 19

 20 Mortgages 283.2 304.0 324.5 349.7 376.3 403.2 452.6 521.8 598.1 649.9 20

 21 Consumer credit 80.2 86.0 91.0 101.7 111.5 115.2 128.2 147.1 170.4 178.6 21

 22 Corporate equities 104.2 99.5 127.5 151.2 146.5 153.8 200.3 242.8 211.0 163.5 22

 23 Mutual fund shares 0.5 0.6 0.7 0.9 1.3 1.7 1.8 1.8 2.2 2.5 23

 24 Trade receivables 2.6 2.9 3.2 3.5 3.9 4.4 4.7 5.8 6.5 7.0 24

 25 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 U.S. direct investment abroad 2.1 2.3 2.6 2.9 3.3 3.7 4.3 5.0 5.9 7.1 26

 27 Miscellaneous assets 260.8 287.0 306.3 335.5 381.9 435.4 484.8 541.8 605.7 675.0 27

 28 Total liabilities 1204.3 1288.1 1408.1 1548.8 1667.2 1831.3 2056.2 2332.1 2557.9 2773.7 28

 29 Net interbank liabilities 23.7 30.4 32.7 39.1 47.4 43.6 40.8 36.5 36.3 35.6 29

 30 Checkable deposits and currency 189.1 193.6 208.9 224.0 232.1 244.8 262.9 287.0 304.7 311.7 30

 31 Time and savings deposits 319.4 339.8 380.4 413.7 413.2 468.1 549.9 638.4 716.8 795.5 31

 32 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 32

 33 Federal funds and security repos 2.5 2.9 5.0 7.5 14.8 16.7 24.7 34.9 50.9 64.8 33

 34 Debt securities 43.4 54.2 58.0 65.4 87.5 100.2 111.6 128.3 160.6 201.0 34

 35 Open market paper 11.9 15.7 18.4 21.4 32.8 33.1 33.8 34.7 41.7 55.1 35

 36 Agency- and GSE-backed securities 14.7 20.2 20.3 24.1 33.8 43.6 49.5 57.9 77.9 97.9 36

 37 Corporate and foreign bonds 16.7 18.3 19.3 19.9 20.9 23.5 28.2 35.6 41.0 47.9 37

 38 Loans 26.8 27.7 27.9 34.3 36.7 41.3 41.5 52.5 63.4 69.8 38

 39 Depository institution loans n.e.c. 20.8 20.7 21.3 23.7 24.3 26.6 29.3 40.6 43.2 42.3 39

 40 Other loans and advances 6.0 7.0 6.6 10.4 11.9 14.2 11.5 10.7 18.7 25.9 40

 41 Mortgages 0.0 0.0 0.0 0.2 0.4 0.5 0.7 1.2 1.5 1.6 41

 42 Mutual fund shares 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 42

 43 Trade payables 0.4 0.4 0.5 0.5 0.6 0.6 0.7 0.8 0.8 0.9 43

 44 Life insurance reserves 98.9 103.5 108.3 113.1 118.1 123.3 129.6 136.3 143.5 150.5 44

 45 Pension entitlements 397.9 433.6 471.8 520.1 573.5 639.5 714.6 804.2 852.6 930.2 45

 46 Taxes payable 1.8 1.7 1.5 1.7 1.9 2.5 2.4 2.5 2.6 2.7 46

 47 Foreign direct investment in U.S. 1.9 1.8 1.9 2.0 1.8 1.9 2.1 2.5 2.8 2.7 47

 48 Miscellaneous liabilities 63.4 63.7 66.8 76.1 92.1 102.0 119.8 149.4 176.3 170.9 48

 Memo:

 49 Market value of corporate equities 106.1 108.2 117.6 146.5 128.6 122.5 143.5 160.1 118.9 65.9 49

 50 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.7 50

(1) Sum of financial sectors shown on tables L.109 through L.131.
L

e

v

els

78 Historical Annuals, 1965-1974, March 10, 2016

L.109 Monetary Authority (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 63.5 68.0 72.8 76.7 80.7 86.1 94.6 97.6 106.9 113.4 1

 2 U.S. official reserve assets 14.3 14.0 13.5 12.4 12.3 10.9 10.1 10.5 11.5 11.6 2

 3 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 3

 4 Treasury currency 5.4 6.2 6.6 6.8 6.8 7.1 7.6 8.3 8.7 9.3 4

 5 Federal Reserve float (2) 2.2 2.5 2.5 3.5 3.4 4.3 4.3 4.0 3.1 2.0 5

 6 Interbank loans (2) 0.1 0.2 0.1 0.2 0.2 0.3 0.0 2.0 1.3 0.3 6

 7 Discount window (3) 0.1 0.2 0.1 0.2 0.2 0.3 0.0 2.0 1.3 0.3 7

 8 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Security repurchase agreements 0.4 0.8 0.3 0.0 0.0 0.0 1.5 0.1 0.1 1.4 9

 10 Debt securities 40.6 43.7 49.1 53.0 57.2 62.2 69.6 71.2 80.5 85.3 10

 11 Open market paper 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.6 11

 12 Treasury securities 40.5 43.7 49.0 52.9 57.2 62.1 69.0 69.8 78.5 80.1 12

 13 Treasury bills 9.1 16.2 16.0 18.8 22.3 26.0 30.2 29.7 36.9 36.8 13

 14 Other Treasury securities 31.4 27.5 33.0 34.2 34.9 36.2 38.8 40.1 41.6 43.3 14

 15 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.5 1.3 1.9 4.7 15

 16 Mortgage-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.5 1.3 1.9 4.7 17

 18 Loans (depository institution loans n.e.c.) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Households (TALF) (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Brokers and dealers (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Funding corporations (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Corporate equities (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous assets 0.5 0.7 0.7 0.9 0.8 0.9 1.1 1.1 1.4 3.2 24

 25 Nonofficial foreign currencies (9) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other 0.5 0.7 0.7 0.9 0.8 0.9 1.1 1.1 1.4 3.2 26

 27 Total liabilities 63.0 67.4 72.2 76.1 80.1 85.4 93.9 96.8 106.0 112.5 27

 28 Depository institution reserves 18.4 19.8 21.1 21.9 22.1 24.2 27.8 25.6 27.1 25.8 28

 29 Vault cash of depository institutions 4.9 5.5 5.9 7.2 7.3 7.0 7.5 8.6 10.7 11.6 29

 30 Checkable deposits and currency 38.8 41.2 44.1 45.6 48.9 52.0 56.5 60.4 65.0 71.9 30

 31 Due to federal government 1.4 1.6 2.5 1.4 2.0 1.6 2.5 2.2 2.9 3.3 31

 32 Treasury cash holdings 0.8 1.2 1.3 0.7 0.7 0.4 0.5 0.3 0.3 0.2 32

 33 Treasury general deposit account 0.7 0.4 1.1 0.7 1.3 1.2 2.0 1.9 2.5 3.1 33

 34 Treasury temporary supplementary financing account 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Due to rest of the world 0.2 0.4 0.4 0.5 0.4 0.3 0.5 0.4 0.3 0.5 35

 36 Due to government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Currency outside banks 37.2 39.2 41.2 43.8 46.6 50.0 53.5 57.9 61.8 68.1 37

 38 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Reverse repurchase agreement operations (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Miscellaneous liabilities 0.8 1.0 1.0 1.4 1.8 2.2 2.1 2.1 3.3 3.2 41

 42 Federal Reserve Bank stock 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.9 42

 43 Other 0.3 0.4 0.4 0.8 1.1 1.5 1.3 1.3 2.5 2.3 43

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table L.203, line 23.

(3) Federal Reserve loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the AMLF.

(7) Includes loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, AIG, Maiden Lane III LLC, and the Commercial Paper Funding Facility LLC.

(8) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(9) Reciprocal currency arrangements (swap lines) with foreign central banks.

(10) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 79

L.110 Private Depository Institutions (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 534.7 564.8 629.9 683.9 715.1 778.6 881.6 1012.6 1143.5 1244.9 1

 2 Vault cash 4.9 5.5 5.9 7.2 7.3 7.0 7.5 8.6 10.7 11.6 2

 3 Reserves at Federal Reserve 18.4 19.8 21.1 21.9 22.1 24.2 27.8 25.6 27.1 25.8 3

 4 Federal funds and security repos 2.1 2.5 4.0 6.7 10.2 16.6 21.1 27.9 33.7 46.9 4

 5 Debt securities 126.1 125.7 149.7 163.9 154.7 182.6 212.5 234.1 236.3 244.5 5

 6 Open market paper 2.0 1.9 2.9 2.9 3.5 4.9 5.4 5.5 5.0 6.4 6

 7 Treasury securities 72.1 68.6 76.3 78.4 67.0 72.6 75.4 77.3 67.0 61.9 7

 8 Agency- and GSE-backed securities 8.7 9.2 12.5 14.3 15.2 21.6 29.6 37.7 47.7 52.9 8

 9 Municipal securities 39.1 41.5 50.6 59.2 59.8 70.5 83.4 91.0 96.8 102.6 9

 10 Corporate and foreign bonds 4.1 4.5 7.5 9.1 9.1 12.9 18.7 22.7 19.9 20.8 10

 11 Loans 370.5 398.6 434.1 467.5 506.0 533.3 591.5 689.9 804.7 893.1 11

 12 Depository institution loans n.e.c. 107.7 119.2 135.3 142.0 155.4 163.9 175.3 206.0 247.2 286.0 12

 13 Other loans and advances 3.4 3.6 4.3 4.4 5.5 7.1 7.9 6.9 8.9 18.5 13

 14 Mortgages 203.8 216.3 230.3 248.6 265.6 279.3 314.6 367.8 420.8 454.6 14

 15 Consumer credit 55.5 59.6 64.1 72.5 79.5 83.1 93.8 109.1 127.8 134.0 15

 16 Corporate equities 2.3 2.0 2.6 2.5 2.6 2.9 3.6 4.6 4.4 3.9 16

 17 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 U.S. direct investment abroad 0.3 0.3 0.4 0.5 0.6 0.8 1.0 1.3 1.6 2.0 19

 20 Miscellaneous assets 10.1 10.4 12.1 13.8 11.6 11.2 16.6 20.6 25.2 17.0 20

 21 Total liabilities 498.9 527.6 582.3 641.6 675.0 741.9 844.0 977.9 1101.2 1203.0 21

 22 Net interbank liabilities 0.4 5.2 5.7 10.0 18.0 12.4 5.5 2.2 -1.4 -1.9 22

 23 Checkable deposits 150.3 152.4 164.8 178.4 183.2 192.8 206.4 226.5 239.8 239.8 23

 24 Small time and savings deposits 288.5 306.5 341.2 367.8 382.3 412.9 481.3 551.0 590.4 628.1 24

 25 Large time deposits 31.0 33.3 39.2 45.9 30.9 55.1 68.6 87.4 126.4 167.4 25

 26 Federal funds and security repos 2.5 2.9 5.0 7.5 14.8 16.7 24.7 34.9 50.9 64.8 26

 27 Debt securities 5.0 5.3 6.3 6.7 7.5 9.3 11.0 11.1 13.1 23.0 27

 28 Open market paper 3.4 3.6 4.4 4.5 5.5 7.1 8.0 7.0 9.0 18.7 28

 29 Corporate bonds 1.6 1.7 2.0 2.2 2.0 2.1 3.0 4.1 4.1 4.3 29

 30 Loans (other loans and advances) 6.0 6.9 4.4 5.3 9.3 10.6 7.9 8.0 15.1 21.8 30

 31 Taxes payable (net) 0.8 0.7 0.6 0.6 0.7 1.1 1.1 0.9 1.0 1.2 31

 32 Foreign direct investment in U.S. 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.6 0.8 32

 33 Miscellaneous liabilities 14.1 14.0 14.7 19.0 28.0 30.6 37.0 55.4 65.3 58.1 33

 34 Investment by holding companies 0.0 0.0 0.0 0.0 4.0 10.0 15.0 21.0 22.5 28.5 34

 35 Investment by funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Other 14.1 14.0 14.7 19.0 24.0 20.6 22.0 34.4 42.8 29.6 36

 Memo:

 37 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

(1) U.S.-chartered depository institutions (L.111), foreign banking offices (L.112), banks in U.S.-affiliated areas (L.113), and credit unions (L.114).

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
L

e

v

els

80 Historical Annuals, 1965-1974, March 10, 2016

L.111 U.S.-Chartered Depository Institutions

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 521.1 549.2 613.1 664.5 691.6 751.3 851.2 974.2 1096.6 1186.6 1

 2 Vault cash 4.9 5.5 5.9 7.2 7.3 7.0 7.5 8.6 10.7 11.6 2

 3 Reserves at Federal Reserve 18.4 19.8 21.1 21.9 22.1 24.2 27.8 25.6 27.1 25.8 3

 4 Federal funds and security repos 2.1 2.5 3.9 6.6 10.1 16.5 20.9 27.5 32.9 46.1 4

 5 Debt securities 124.6 123.9 147.4 161.4 151.6 178.4 208.6 228.5 229.9 236.8 5

 6 Open market paper 1.8 1.7 2.7 2.6 3.0 4.1 4.5 4.3 3.5 4.3 6

 7 Treasury securities 71.2 67.6 75.1 77.2 65.5 71.3 74.1 75.6 65.2 60.2 7

 8 Agency- and GSE-backed securities 8.7 9.1 12.3 13.9 14.7 20.8 28.6 35.8 45.4 50.2 8

 9 Residential mortgage pass-through securities 0.7 0.9 1.1 1.5 1.6 2.3 3.2 4.3 7.7 9.3 9

 10 Commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Other 8.0 8.2 11.2 12.4 13.1 18.5 25.3 31.5 37.7 40.9 13

 14 Municipal securities 39.0 41.3 50.2 58.8 59.5 70.0 83.0 90.6 96.2 101.8 14

 15 Corporate and foreign bonds 4.0 4.3 7.1 8.8 8.8 12.3 18.4 22.3 19.6 20.4 15

 16 Priv. residential mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Priv. commercial mortgage pass-through securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Priv. residential CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Priv. commercial CMOs and other structured MBS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Other 4.0 4.3 7.1 8.8 8.8 12.3 18.4 22.3 19.6 20.4 20

 21 Loans 359.5 386.2 420.5 452.1 487.3 510.7 566.2 659.7 767.3 844.8 21

 22 Depository institution loans n.e.c. 105.7 116.7 132.7 139.1 151.2 157.2 168.1 196.1 233.8 266.4 22

 23 Other loans and advances 2.7 2.9 3.5 3.5 4.4 5.6 6.3 5.5 7.1 14.8 23

 24 Mortgages 202.0 214.4 228.4 246.8 263.9 277.7 312.8 365.9 418.3 451.5 24

 25 Consumer credit 49.1 52.2 55.8 62.7 67.8 70.1 79.0 92.1 108.1 112.1 25

 26 Corporate equities 2.3 2.0 2.5 2.4 2.5 2.8 3.5 4.5 4.2 3.7 26

 27 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 U.S. direct investment abroad 0.3 0.3 0.4 0.5 0.6 0.8 1.0 1.3 1.6 2.0 29

 30 Miscellaneous assets 9.1 9.1 11.4 12.4 10.2 11.0 15.7 18.4 22.9 15.6 30

 31 Total liabilities 485.8 512.6 566.1 622.9 652.3 715.3 814.5 940.0 1054.5 1143.5 31

 32 Net interbank liabilities 1.0 5.3 6.3 10.5 17.4 13.3 6.8 1.9 -3.2 -8.5 32

 33 Federal Reserve float 2.2 2.5 2.5 3.5 3.4 4.3 4.3 4.0 3.1 2.0 33

 34 Borrowing from Federal Reserve banks 0.1 0.2 0.1 0.2 0.2 0.3 0.0 2.0 1.3 0.3 34

 35 To domestic banks -2.5 -1.1 -0.2 1.1 1.6 2.6 1.4 -4.5 -7.1 -8.1 35

 36 To foreign banks 1.1 3.8 3.9 5.7 12.2 6.1 1.0 0.5 -0.4 -2.7 36

 37 Checkable deposits 147.3 148.9 160.9 173.1 177.7 182.9 195.9 218.9 231.6 230.4 37

 38 Federal government 5.5 5.0 5.2 5.0 5.1 7.9 10.2 10.9 9.9 4.8 38

 39 Private domestic 137.7 139.6 151.1 163.2 167.5 169.2 180.5 201.7 213.1 214.9 39

 40 Rest of the world 4.1 4.3 4.6 4.8 5.2 5.7 5.2 6.3 8.6 10.6 40

 41 Small time and savings deposits 279.2 296.4 330.1 355.5 368.0 396.8 462.2 528.5 564.8 599.3 41

 42 Large time deposits 30.5 32.8 38.6 45.2 29.5 53.3 66.4 84.5 122.6 162.6 42

 43 Federal funds and security repos 2.4 2.8 5.0 7.5 14.7 16.6 24.2 34.1 48.7 61.6 43

 44 Debt securities 4.3 4.6 5.5 5.8 6.4 7.8 9.4 9.7 11.3 19.2 44

 45 Open market paper 2.7 2.9 3.5 3.6 4.4 5.7 6.4 5.6 7.2 14.9 45

 46 Corporate bonds 1.6 1.7 2.0 2.2 2.0 2.1 3.0 4.1 4.1 4.3 46

 47 Loans (other loans and advances) 6.0 6.9 4.4 5.3 9.3 10.6 7.9 8.0 15.1 21.8 47

 48 Taxes payable (net) 0.8 0.7 0.6 0.6 0.7 1.1 1.1 0.9 1.0 1.2 48

 49 Miscellaneous liabilities 14.3 14.1 14.7 19.5 28.6 32.9 40.5 53.5 62.6 55.8 49

 50 Investment by holding companies 0.0 0.0 0.0 0.0 4.0 10.0 15.0 21.0 22.5 28.5 50

 51 Other 14.3 14.1 14.7 19.5 24.6 22.9 25.5 32.5 40.1 27.3 51

 Memo:

 52 Consumer leases not included above (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

(1) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 81

L.112 Foreign Banking Offices in U.S. (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 4.3 5.0 5.1 6.1 7.0 9.1 9.8 14.8 19.6 28.1 1

 2 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Federal funds and security repos 0.1 0.0 0.1 0.1 0.1 0.1 0.2 0.4 0.8 0.8 4

 5 Debt securities 0.9 1.0 1.4 1.4 1.6 2.3 1.6 2.4 2.8 3.7 5

 6 Open market paper 0.2 0.2 0.3 0.3 0.5 0.9 0.9 1.2 1.4 2.1 6

 7 Treasury securities 0.5 0.5 0.6 0.6 0.6 0.5 0.3 0.5 0.4 0.5 7

 8 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.5 0.6 8

 9 Municipal securities 0.1 0.1 0.2 0.2 0.2 0.4 0.2 0.1 0.2 0.2 9

 10 Corporate and foreign bonds 0.1 0.2 0.3 0.3 0.3 0.6 0.3 0.3 0.3 0.3 10

 11 Loans 2.7 3.2 3.4 3.9 5.3 8.1 8.7 11.4 15.3 23.4 11

 12 Depository institution loans n.e.c. 2.0 2.4 2.6 3.0 4.2 6.7 7.2 10.0 13.4 19.6 12

 13 Other loans and advances 0.7 0.7 0.9 0.9 1.1 1.4 1.6 1.4 1.8 3.7 13

 14 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 14

 15 Corporate equities 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 15

 16 Miscellaneous assets 0.6 0.8 0.2 0.7 -0.0 -1.4 -0.8 0.5 0.6 -0.0 16

 17 Total liabilities 4.6 5.2 5.5 6.4 7.4 9.6 10.3 15.8 20.7 30.7 17

 18 Net interbank liabilities 2.4 2.7 2.5 2.5 3.2 2.3 3.1 5.6 6.9 12.2 18

 19 To foreign banks 2.7 2.9 3.3 3.7 4.7 4.4 4.8 6.3 4.5 6.5 19

 20 To domestic banks -0.3 -0.3 -0.8 -1.2 -1.5 -2.0 -1.8 -0.7 2.3 5.6 20

 21 Checkable deposits 1.7 1.8 2.0 3.1 3.1 7.3 7.4 4.2 4.5 5.7 21

 22 Small time and savings deposits 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.4 0.5 22

 23 Large time deposits 0.4 0.5 0.6 0.7 0.9 1.3 1.5 2.2 3.0 4.0 23

 24 Federal funds and security repos 0.0 0.0 0.0 0.0 0.1 0.1 0.5 0.8 2.3 3.1 24

 25 Debt securities (open market paper) (2) 0.7 0.7 0.9 0.9 1.1 1.4 1.6 1.4 1.8 3.7 25

 26 Foreign direct investment in U.S. 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.6 0.8 26

 27 Miscellaneous liabilities -1.0 -0.9 -0.9 -1.4 -1.5 -3.3 -4.4 0.8 1.3 0.7 27

 28 Investment by funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other -1.0 -0.9 -0.9 -1.4 -1.5 -3.3 -4.4 0.8 1.3 0.7 29

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.
L

e

v

els

82 Historical Annuals, 1965-1974, March 10, 2016

L.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 1.2 1.4 1.7 1.9 3.0 3.4 3.8 4.1 4.3 4.5 1

 2 Debt securities 0.2 0.3 0.4 0.4 0.5 0.5 0.7 1.0 1.0 1.0 2

 3 Treasury securities 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.6 0.6 0.3 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Municipal securities 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.6 5

 6 Corporate and foreign bonds 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 6

 7 Loans 0.4 0.4 0.5 0.5 0.7 0.8 0.9 0.9 1.0 1.5 7

 8 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Home mortgages 0.3 0.3 0.4 0.4 0.4 0.6 0.7 0.7 0.7 0.8 9

 10 Commercial mortgages 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 10

 11 Miscellaneous assets 0.6 0.7 0.8 1.0 1.8 2.1 2.1 2.1 2.2 2.0 11

 12 Total liabilities 1.3 1.6 1.8 2.1 3.1 3.6 4.1 4.5 5.0 5.0 12

 13 Net interbank liabilities -0.1 -0.2 -0.2 -0.2 -0.3 -0.4 -0.5 -0.7 -1.0 -0.8 13

 14 Checkable deposits 1.3 1.6 1.9 2.2 2.3 2.6 3.0 3.3 3.7 3.7 14

 15 Small time and savings deposits 0.0 0.0 0.0 0.0 0.5 0.6 0.6 0.7 0.8 0.8 15

 16 Large time deposits 0.0 0.0 0.0 0.0 0.5 0.6 0.6 0.7 0.8 0.8 16

 17 Miscellaneous liabilities 0.1 0.1 0.2 0.2 0.1 0.2 0.3 0.5 0.7 0.5 17

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

L.114 Credit Unions

Billions of dollars

 1 Total financial assets 8.0 9.1 10.0 11.4 13.5 14.8 16.8 19.6 23.1 25.8 1

 2 Reserves at Federal Reserve 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities 0.3 0.5 0.5 0.7 1.0 1.4 1.6 2.1 2.6 3.0 4

 5 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury securities 0.3 0.3 0.3 0.4 0.5 0.6 0.6 0.5 0.8 0.8 6

 7 Agency- and GSE-backed securities 0.0 0.1 0.2 0.4 0.5 0.8 1.0 1.6 1.8 2.1 7

 8 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Loans 7.9 8.9 9.7 11.0 12.8 13.8 15.6 18.0 21.1 23.4 10

 11 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Home mortgages 1.4 1.4 1.4 1.3 1.1 0.8 0.8 1.0 1.4 1.5 12

 13 Consumer credit 6.5 7.5 8.3 9.7 11.7 13.0 14.8 17.0 19.6 21.9 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Miscellaneous assets -0.2 -0.2 -0.3 -0.3 -0.3 -0.4 -0.4 -0.5 -0.6 -0.6 15

 16 Total liabilities 7.2 8.2 8.9 10.3 12.2 13.3 15.1 17.7 21.0 23.7 16

 17 Net interbank liabilities -2.8 -2.7 -2.9 -2.8 -2.3 -2.9 -3.9 -4.5 -4.1 -4.8 17

 18 Shares/deposits 9.2 10.1 11.1 12.3 13.7 15.5 18.4 21.6 24.5 27.5 18

 19 Checkable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 19

 20 Small time and savings 9.2 10.0 11.1 12.3 13.7 15.5 18.3 21.6 24.5 27.5 20

 21 Large time 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous liabilities 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.6 0.7 1.0 24
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 83

L.115 Property-Casualty Insurance Companies

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 36.8 37.5 41.3 45.3 46.2 50.7 58.5 68.9 71.3 70.1 1

 2 Checkable deposits and currency 1.3 1.3 1.3 1.4 1.3 1.4 1.5 1.5 1.5 1.6 2

 3 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Debt securities 20.4 21.9 23.3 25.2 26.8 30.6 34.4 38.2 41.6 46.2 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 5.5 5.0 4.3 3.9 3.4 3.4 3.2 2.9 2.8 2.9 7

 8 Agency- and GSE-backed securities 0.6 1.3 1.2 1.4 1.6 1.6 1.9 2.3 2.3 2.7 8

 9 Municipal securities 11.3 12.0 13.5 14.4 15.5 17.0 20.5 24.8 28.5 30.7 9

 10 Corporate and foreign bonds 3.0 3.6 4.3 5.5 6.3 8.6 8.9 8.1 8.0 10.0 10

 11 Loans (commercial mortgages) 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 11

 12 Corporate equities 12.0 11.0 13.0 14.6 13.3 13.2 16.6 21.8 19.7 12.8 12

 13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Trade receivables 2.6 2.9 3.2 3.5 3.9 4.4 4.7 5.8 6.5 7.0 14

 15 U.S. direct investment abroad 0.3 0.3 0.4 0.5 0.6 0.8 1.0 1.4 1.8 2.3 15

 16 Miscellaneous assets (equity in FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Total liabilities 21.9 23.6 25.8 28.2 31.6 35.1 38.7 43.8 48.7 53.3 17

 18 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Taxes payable (net) 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.3 20

 21 Foreign direct investment in U.S. 0.7 0.6 0.7 0.7 0.7 0.7 0.8 0.9 1.0 0.7 21

 22 Miscellaneous liabilities 21.1 22.9 25.0 27.5 30.8 34.2 37.8 42.6 47.4 52.3 22

 23 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Policy payables 21.1 22.9 25.0 27.5 30.8 34.2 37.8 42.6 47.4 52.3 24
L

e

v

els

84 Historical Annuals, 1965-1974, March 10, 2016

L.116 Life Insurance Companies (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 154.2 162.3 172.6 183.1 191.3 200.9 215.2 232.4 244.8 255.0 1

 2 Checkable deposits and currency 1.5 1.5 1.6 1.7 1.6 1.8 1.8 2.0 2.1 2.0 2

 3 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Debt securities 70.2 72.2 75.8 79.4 81.8 84.2 90.2 97.5 103.2 108.6 5

 6 Open market paper 0.3 0.4 0.5 0.5 1.4 2.1 2.8 3.0 3.0 4.1 6

 7 Treasury securities 5.1 4.9 4.7 4.5 4.1 4.0 3.8 3.8 3.4 3.4 7

 8 Agency- and GSE-backed securities 0.2 0.2 0.2 0.3 0.4 0.5 0.6 0.7 0.9 1.1 8

 9 Municipal securities 3.5 3.3 3.1 3.2 3.2 3.3 3.4 3.4 3.4 3.7 9

 10 Corporate and foreign bonds 61.0 63.4 67.2 70.9 72.7 74.1 79.6 86.6 92.5 96.4 10

 11 Loans 67.7 73.7 77.6 81.3 85.9 90.4 92.6 95.0 101.6 109.1 11

 12 Other loans and advances 7.7 9.1 10.1 11.3 13.8 16.1 17.1 18.0 20.2 22.9 12

 13 Mortgages 60.0 64.6 67.5 70.0 72.0 74.4 75.5 76.9 81.4 86.2 13

 14 Corporate equities 9.0 8.7 10.7 13.0 13.2 14.6 20.0 26.5 25.4 21.3 14

 15 Mutual fund shares 0.1 0.1 0.2 0.2 0.6 0.8 0.6 0.3 0.5 0.6 15

 16 U.S. direct investment abroad 0.3 0.4 0.4 0.4 0.5 0.5 0.6 0.6 0.7 0.7 16

 17 Miscellaneous assets 5.4 5.6 6.5 7.0 7.9 8.6 9.5 10.5 11.3 12.6 17

 18 Equity in FHLB 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Deferred and unpaid life ins. premiums 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 19

 20 Other 2.1 1.9 2.5 2.7 3.2 3.5 4.1 4.5 4.9 5.6 20

 21 Total liabilities 141.9 149.9 159.0 168.1 177.5 187.7 201.0 216.3 230.1 243.9 21

 22 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Life insurance reserves 98.9 103.5 108.3 113.1 118.1 123.3 129.6 136.3 143.5 150.5 24

 25 Pension entitlements (2) 27.3 29.4 31.9 34.7 37.6 41.0 46.1 52.1 56.1 60.4 25

 26 Taxes payable (net) 0.5 0.6 0.5 0.6 0.7 0.8 0.8 0.8 0.8 0.8 26

 27 Foreign direct investment in U.S. 0.6 0.5 0.6 0.6 0.6 0.6 0.7 0.8 0.9 0.6 27

 28 Miscellaneous liabilities 14.6 15.8 17.6 19.1 20.5 22.0 23.8 26.4 28.7 31.6 28

 29 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Funding agreements backing securities (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Other reserves (4) 10.0 10.8 11.9 12.9 14.0 15.3 16.6 18.1 19.8 21.5 31

 32 Unallocated insurance contracts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Other 4.6 5.0 5.7 6.2 6.5 6.7 7.2 8.2 8.9 10.1 33

(1) Additional detail on the financial assets and liabilities held in life insurer’s general and separate accounts is available on tables L.116.g and L.116.s.

(2) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 32.

(3) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.

(4) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 85

L.116.g Life Insurance Companies: General Accounts

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 154.2 162.3 172.6 183.1 191.3 200.9 215.2 232.4 244.8 255.0 1

 2 Checkable deposits and currency 1.5 1.5 1.6 1.7 1.6 1.8 1.8 2.0 2.1 2.0 2

 3 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Debt securities 70.2 72.2 75.8 79.4 81.8 84.2 90.2 97.5 103.2 108.6 5

 6 Open market paper 0.3 0.4 0.5 0.5 1.4 2.1 2.8 3.0 3.0 4.1 6

 7 Treasury securities 5.1 4.9 4.7 4.5 4.1 4.0 3.8 3.8 3.4 3.4 7

 8 Agency- and GSE-backed securities 0.2 0.2 0.2 0.3 0.4 0.5 0.6 0.7 0.9 1.1 8

 9 Municipal securities 3.5 3.3 3.1 3.2 3.2 3.3 3.4 3.4 3.4 3.7 9

 10 Corporate and foreign bonds 61.0 63.4 67.2 70.9 72.7 74.1 79.6 86.6 92.5 96.4 10

 11 Loans 67.7 73.7 77.6 81.3 85.9 90.4 92.6 95.0 101.6 109.1 11

 12 Other loans and advances 7.7 9.1 10.1 11.3 13.8 16.1 17.1 18.0 20.2 22.9 12

 13 Mortgages 60.0 64.6 67.5 70.0 72.0 74.4 75.5 76.9 81.4 86.2 13

 14 Corporate equities 9.0 8.7 10.7 13.0 13.2 14.6 20.0 26.5 25.4 21.3 14

 15 Mutual fund shares 0.1 0.1 0.2 0.2 0.6 0.8 0.6 0.3 0.5 0.6 15

 16 U.S. direct investment abroad 0.3 0.4 0.4 0.4 0.5 0.5 0.6 0.6 0.7 0.7 16

 17 Miscellaneous assets 5.4 5.6 6.5 7.0 7.9 8.6 9.5 10.5 11.3 12.6 17

 18 Total liabilities 141.9 149.9 159.0 168.1 177.5 187.7 201.0 216.3 230.1 243.9 18

 19 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Life insurance reserves 98.9 103.5 108.3 113.1 118.1 123.3 129.6 136.3 143.5 150.5 21

 22 Pension entitlements (1) 27.3 29.4 31.9 34.7 37.6 41.0 46.1 52.1 56.1 60.4 22

 23 Taxes payable (net) 0.5 0.6 0.5 0.6 0.7 0.8 0.8 0.8 0.8 0.8 23

 24 Foreign direct investment in U.S. 0.6 0.5 0.6 0.6 0.6 0.6 0.7 0.8 0.9 0.6 24

 25 Miscellaneous liabilities 14.6 15.8 17.6 19.1 20.5 22.0 23.8 26.4 28.7 31.6 25

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 25).

L.116.s Life Insurance Companies: Separate Accounts

Billions of dollars

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Total liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Pension entitlements (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 18).
L

e

v

els

86 Historical Annuals, 1965-1974, March 10, 2016

L.117 Private and Public Pension Funds (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets (2) 369.9 403.5 439.1 484.4 534.9 597.4 667.1 750.3 794.0 866.5 1

 2 Checkable deposits and currency 1.3 1.1 1.2 1.4 1.3 1.5 1.9 2.6 3.0 3.6 2

 3 Time and savings deposits 2.9 3.4 4.2 4.9 5.6 6.5 7.4 8.7 10.8 13.5 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.6 0.7 0.9 1.0 1.1 1.2 1.3 2.1 2.5 3.0 5

 6 Debt securities 72.9 79.4 84.2 89.7 95.4 103.7 108.3 122.1 135.9 153.2 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 3.1 5.4 7

 8 Treasury securities (3) 29.4 30.4 30.4 31.9 32.8 34.8 36.4 40.3 43.4 48.4 8

 9 Agency- and GSE-backed securities 0.9 1.1 1.1 1.8 2.2 2.4 2.2 4.2 6.5 8.9 9

 10 Municipal securities 2.6 2.5 2.4 2.4 2.3 2.0 2.2 2.0 1.7 1.0 10

 11 Corporate and foreign bonds 39.9 45.4 50.3 53.6 58.2 64.5 67.6 73.8 81.2 89.5 11

 12 Loans (mortgages) 7.1 8.4 9.1 9.4 9.8 10.1 9.9 9.2 9.5 10.1 12

 13 Corporate equities 43.3 42.3 55.0 67.3 68.7 77.2 104.1 130.0 113.8 91.2 13

 14 Mutual fund shares 0.4 0.4 0.5 0.6 0.7 0.8 1.2 1.5 1.7 1.9 14

 15 Miscellaneous assets 241.4 267.8 284.0 310.2 352.2 396.4 433.0 474.0 516.9 590.1 15

 16 Unallocated insurance contracts (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Contributions receivable 1.2 1.2 1.5 1.7 1.7 1.9 2.2 2.7 2.7 2.7 17

 18 Claims of pension fund on sponsor (5) 235.9 261.1 276.2 301.3 342.5 385.7 421.1 454.9 494.1 562.7 18

 19 Other 4.3 5.4 6.4 7.2 8.0 8.9 9.7 16.4 20.1 24.7 19

 20 Pension entitlements (liabilities) (6) 370.5 404.2 439.9 485.4 535.9 598.5 668.5 752.1 796.5 869.8 20

 Memo:

 Funded status of defined benefit plans:

 21 Pension entitlements 353.1 385.8 418.1 460.5 510.1 566.8 630.7 703.2 746.5 818.4 21

 22 Funded by assets (7) 117.3 124.6 141.9 159.2 167.5 181.1 209.6 248.3 252.4 255.7 22

 23 Unfunded (line 18) 235.9 261.1 276.2 301.3 342.5 385.7 421.1 454.9 494.1 562.7 23

 24 Household retirement assets (8) ND ND ND ND ND ND ND ND ND ND 24

 25 Defined benefit plans 352.5 385.1 417.3 459.6 509.1 565.7 629.3 701.3 744.1 815.2 25

 26 Defined contribution plans 17.4 18.4 21.8 24.9 25.8 31.7 37.8 48.9 50.0 51.4 26

 27 Individual retirement plans (IRAs) (9) ND ND ND ND ND ND ND ND ND ND 27

 28 Annuities at life insurance companies (10) ND ND ND ND ND ND ND ND ND ND 28

(1) Private pension funds, state and local government employee retirement funds, and federal government retirement funds defined benefit plans and defined contribution plans.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(5) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(6) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(7) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(8) Households’ retirement assets in tax-deferred accounts, including employer sponsored pension plans, IRAs, Roth IRAs, and annuities.

(9) IRA assets are not included above. See memo items on table L.227 for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs at life insurance companies are excluded. They are included in line 27.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 87

L.118 Private Pension Funds (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets (2) 105.3 115.5 129.1 144.5 163.2 184.8 204.5 231.9 249.5 270.8 1

 2 Checkable deposits and currency 0.9 0.8 0.9 1.0 1.0 1.1 1.3 1.8 2.5 3.4 2

 3 Time and savings deposits 2.9 3.4 4.0 4.7 5.4 6.3 7.3 8.5 10.0 12.0 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.6 0.7 0.9 1.0 1.1 1.2 1.3 2.1 2.5 3.0 5

 6 Debt securities 25.7 28.0 28.7 29.8 30.4 32.5 31.3 37.8 44.4 53.3 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 3.1 5.4 7

 8 Treasury securities 2.5 2.3 2.0 2.4 2.2 2.1 2.1 3.4 5.4 8.6 8

 9 Agency- and GSE-backed securities 0.5 0.4 0.3 0.4 0.6 0.9 0.6 2.1 3.2 4.3 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 22.7 25.2 26.4 27.0 27.6 29.4 28.6 30.6 32.7 35.0 11

 12 Loans (mortgages) 3.4 3.9 4.1 4.1 4.2 4.2 3.7 2.7 2.4 2.4 12

 13 Corporate equities 40.8 39.5 51.1 61.5 61.4 67.1 88.7 107.8 93.6 74.8 13

 14 Mutual fund shares 0.4 0.4 0.5 0.6 0.7 0.8 1.2 1.5 1.7 1.9 14

 15 Miscellaneous assets 30.6 38.8 38.9 41.9 58.9 71.6 69.8 69.6 92.5 120.2 15

 16 Unallocated insurance contracts (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Contributions receivable 1.2 1.2 1.5 1.7 1.7 1.9 2.2 2.7 2.7 2.7 17

 18 Claims of pension fund on sponsor (4) 25.0 32.2 31.1 33.1 49.2 60.9 57.9 50.5 69.7 92.8 18

 19 Other 4.3 5.4 6.4 7.2 8.0 8.9 9.7 16.4 20.1 24.7 19

 20 Pension entitlements (liabilities) (5) 105.9 116.2 129.9 145.4 164.2 185.9 205.9 233.8 251.9 274.0 20

 Memo:

 Funded status of defined benefit plans:

 21 Pension entitlements 88.5 97.7 108.1 120.6 138.3 154.2 168.1 184.8 201.9 222.6 21

 22 Funded by assets (6) 63.5 65.5 77.0 87.5 89.1 93.3 110.2 134.4 132.2 129.8 22

 23 Unfunded (line 17) 25.0 32.2 31.1 33.1 49.2 60.9 57.9 50.5 69.7 92.8 23

 Total financial assets (7)

 24 Defined benefit plans 87.9 97.0 107.3 119.6 137.4 153.1 166.7 183.0 199.5 219.4 24

 25 Defined contribution plans 17.4 18.4 21.8 24.9 25.8 31.7 37.8 48.9 50.0 51.4 25

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on tables L.118.b and L.118.c.
L

e

v

els

88 Historical Annuals, 1965-1974, March 10, 2016

L.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets (1) 87.9 97.0 107.3 119.6 137.4 153.1 166.7 183.0 199.5 219.4 1

 2 Checkable deposits and currency 0.9 0.8 0.9 1.0 1.0 1.1 1.3 1.8 2.5 3.4 2

 3 Time and savings deposits 1.5 1.8 2.1 2.5 2.9 3.3 3.9 4.5 5.3 6.3 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.6 0.7 0.9 1.0 1.1 1.2 1.3 2.1 2.5 3.0 5

 6 Debt securities 20.4 22.3 22.8 23.7 24.2 25.9 25.0 29.7 34.6 41.0 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.1 1.8 3.2 7

 8 Treasury securities 1.9 1.7 1.5 1.8 1.6 1.6 1.6 2.5 4.0 6.4 8

 9 Agency- and GSE-backed securities 0.4 0.3 0.3 0.3 0.5 0.7 0.5 1.6 2.5 3.4 9

 10 Corporate and foreign bonds 18.2 20.2 21.1 21.6 22.1 23.6 22.9 24.5 26.2 28.0 10

 11 Loans (mortgages) 3.4 3.9 4.1 4.1 4.2 4.2 3.7 2.7 2.4 2.4 11

 12 Corporate equities 32.6 31.6 40.9 49.2 49.1 50.3 66.5 80.9 70.2 56.1 12

 13 Mutual fund shares 0.4 0.4 0.5 0.6 0.7 0.8 1.2 1.5 1.7 1.9 13

 14 Miscellaneous assets 28.0 35.6 35.1 37.6 54.1 66.3 63.9 59.8 80.4 105.3 14

 15 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Contributions receivable 1.2 1.2 1.5 1.7 1.7 1.9 2.2 2.7 2.7 2.7 16

 17 Claims of pension fund on sponsor (3) 25.0 32.2 31.1 33.1 49.2 60.9 57.9 50.5 69.7 92.8 17

 18 Other 1.7 2.1 2.5 2.9 3.2 3.5 3.9 6.6 8.0 9.9 18

 19 Pension entitlements (liabilities) (4) 88.5 97.7 108.1 120.6 138.3 154.2 168.1 184.8 201.9 222.6 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 17.4 18.4 21.8 24.9 25.8 31.7 37.8 48.9 50.0 51.4 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Time and savings deposits 1.4 1.6 1.9 2.2 2.6 3.0 3.4 4.0 4.7 5.6 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 5.3 5.7 5.8 6.1 6.2 6.6 6.4 8.1 9.8 12.3 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 1.2 2.2 7

 8 Treasury securities 0.6 0.6 0.5 0.6 0.5 0.5 0.5 0.8 1.3 2.1 8

 9 Agency- and GSE-backed securities 0.1 0.1 0.1 0.1 0.1 0.2 0.1 0.5 0.7 0.9 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 4.5 5.0 5.3 5.4 5.5 5.9 5.7 6.1 6.5 7.0 11

 12 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate equities 8.2 7.9 10.2 12.3 12.3 16.8 22.2 27.0 23.4 18.7 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Miscellaneous assets 2.6 3.2 3.8 4.3 4.8 5.3 5.8 9.9 12.0 14.8 15

 16 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Contributions receivable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other 2.6 3.2 3.8 4.3 4.8 5.3 5.8 9.9 12.0 14.8 18

 19 Pension entitlements (liabilities) 17.4 18.4 21.8 24.9 25.8 31.7 37.8 48.9 50.0 51.4 19

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 89

L.119 Federal Government Employee Retirement Funds

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets (1) 198.1 213.6 230.3 248.3 267.4 300.2 328.4 358.3 389.3 421.0 1

 2 Debt securities 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 2

 3 Treasury securities (2) 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 178.4 192.6 208.0 224.7 242.3 272.7 298.0 324.9 353.8 382.8 7

 8 Pension entitlements (liabilities) (4) 198.1 213.6 230.3 248.3 267.4 300.2 328.4 358.3 389.3 421.0 8

 Memo:

 Funded status of defined benefit plans:

 9 Pension entitlements 198.1 213.6 230.3 248.3 267.4 300.2 328.4 358.3 389.3 421.0 9

 10 Funded by assets (5) 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 10

 11 Unfunded (line 7) 178.4 192.6 208.0 224.7 242.3 272.7 298.0 324.9 353.8 382.8 11

 Total financial assets (6)

 12 Defined benefit plans 198.1 213.6 230.3 248.3 267.4 300.2 328.4 358.3 389.3 421.0 12

 13 Defined contribution plans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes marketable and nonmarketable Treasury securities.

(3) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans, including suspended investments in the Thrift Savings Plan G Fund.

 These liabilities are assets of the household sector.

(5) Total defined benefit financial assets less defined benefit claims of pension fund on sponsor.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables L.119.b and L.119.c.
L

e

v

els

90 Historical Annuals, 1965-1974, March 10, 2016

L.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets (2) 198.1 213.6 230.3 248.3 267.4 300.2 328.4 358.3 389.3 421.0 1

 2 Debt securities 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 2

 3 Treasury securities (3) 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Claims of pension fund on sponsor (misc. assets) (4) 178.4 192.6 208.0 224.7 242.3 272.7 298.0 324.9 353.8 382.8 7

 8 Pension entitlements (liabilities) (5) 198.1 213.6 230.3 248.3 267.4 300.2 328.4 358.3 389.3 421.0 8

(1) Includes Civil Service Retirement and Disability Fund, Railroad Retirement Board, judicial retirement fund, Military Retirement Fund, Foreign Service Retirement and

 Disability Fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Includes both marketable and nonmarketable government securities.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

L.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Treasury securities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Claims of pension fund on sponsor (misc. assets) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Pension entitlements (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 91

L.120 State and Local Government Employee Retirement Funds

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets (1) 66.5 74.5 79.8 91.6 104.3 112.4 134.2 160.1 155.3 174.7 1

 2 Checkable deposits and currency 0.3 0.4 0.3 0.4 0.3 0.4 0.5 0.8 0.5 0.3 2

 3 Time and savings deposits 0.0 0.0 0.2 0.2 0.2 0.2 0.1 0.2 0.8 1.5 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 27.5 30.4 33.3 36.3 39.9 43.7 46.6 51.0 56.0 61.7 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 7.2 7.1 6.2 5.9 5.4 5.1 3.9 3.6 2.5 1.6 8

 9 Agency- and GSE-backed securities 0.5 0.7 0.8 1.4 1.6 1.5 1.5 2.1 3.3 4.6 9

 10 Municipal securities 2.6 2.5 2.4 2.4 2.3 2.0 2.2 2.0 1.7 1.0 10

 11 Corporate and foreign bonds 17.2 20.2 23.9 26.6 30.6 35.1 39.0 43.2 48.4 54.5 11

 12 Loans (mortgages) 3.7 4.5 5.0 5.4 5.6 5.9 6.3 6.5 7.1 7.7 12

 13 Corporate equities 2.5 2.8 3.9 5.8 7.3 10.1 15.4 22.2 20.2 16.4 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Miscellaneous assets 32.5 36.3 37.1 43.6 51.1 52.1 65.3 79.5 70.6 87.1 15

 16 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Claims of pension fund on sponsor (3) 32.5 36.3 37.1 43.6 51.1 52.1 65.3 79.5 70.6 87.1 17

 18 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Pension entitlements (liabilities) (4) 66.5 74.5 79.8 91.6 104.3 112.4 134.2 160.1 155.3 174.8 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 66.5 74.5 79.8 91.6 104.3 112.4 134.2 160.1 155.3 174.8 20

 21 Funded by assets (5) 34.1 38.1 42.6 48.0 53.2 60.3 69.0 80.6 84.7 87.7 21

 22 Unfunded (line 17) 32.5 36.3 37.1 43.6 51.1 52.1 65.3 79.5 70.6 87.1 22

 Total financial assets (6)

 23 Defined benefit plans 66.5 74.5 79.8 91.6 104.3 112.4 134.2 160.1 155.3 174.7 23

 24 Defined contribution plans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables L.120.b and L.120.c.
L

e

v

els

92 Historical Annuals, 1965-1974, March 10, 2016

L.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets (1) 66.5 74.5 79.8 91.6 104.3 112.4 134.2 160.1 155.3 174.7 1

 2 Checkable deposits and currency 0.3 0.4 0.3 0.4 0.3 0.4 0.5 0.8 0.5 0.3 2

 3 Time and savings deposits 0.0 0.0 0.2 0.2 0.2 0.2 0.1 0.2 0.8 1.5 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 27.5 30.4 33.3 36.3 39.9 43.7 46.6 51.0 56.0 61.7 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 7.2 7.1 6.2 5.9 5.4 5.1 3.9 3.6 2.5 1.6 8

 9 Agency- and GSE-backed securities 0.5 0.7 0.8 1.4 1.6 1.5 1.5 2.1 3.3 4.6 9

 10 Municipal securities 2.6 2.5 2.4 2.4 2.3 2.0 2.2 2.0 1.7 1.0 10

 11 Corporate and foreign bonds 17.2 20.2 23.9 26.6 30.6 35.1 39.0 43.2 48.4 54.5 11

 12 Loans (mortgages) 3.7 4.5 5.0 5.4 5.6 5.9 6.3 6.5 7.1 7.7 12

 13 Corporate equities 2.5 2.8 3.9 5.8 7.3 10.1 15.4 22.2 20.2 16.4 13

 14 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Miscellaneous assets 32.5 36.3 37.1 43.6 51.1 52.1 65.3 79.5 70.6 87.1 15

 16 Claims of pension fund on sponsor (2) 32.5 36.3 37.1 43.6 51.1 52.1 65.3 79.5 70.6 87.1 16

 17 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Pension entitlements (liabilities) (3) 66.5 74.5 79.8 91.6 104.3 112.4 134.2 160.1 155.3 174.8 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

L.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Unallocated insurance contracts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Pension entitlements (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 93

L.121 Money Market Mutual Funds (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 1

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

 3 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.6 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 5

 6 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 7

 8 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 8

 9 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 12

 13 Total shares outstanding (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 13

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.116).

L.122 Mutual Funds (1)

Billions of dollars

 1 Total financial assets 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 1

 2 Security repurchase agreements 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 2

 3 Debt securities 3.9 5.1 4.3 4.1 5.1 5.7 5.5 6.0 6.6 7.4 3

 4 Open market paper 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 4

 5 Treasury securities 0.8 1.4 0.9 1.1 0.7 0.9 0.6 0.7 0.7 1.1 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate and foreign bonds 2.6 2.9 2.6 2.0 2.9 3.5 3.7 4.2 4.3 4.9 8

 9 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate equities 30.9 28.9 39.2 46.1 40.9 39.7 48.6 51.7 38.3 26.3 10

 11 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Total shares outstanding (liabilities) 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 12

(1) Open-end investment companies; excludes funding vehicles for variable annuities, which are included in the life insurance sector (table L.116).

L.123 Closed-End and Exchange-Traded Funds

Billions of dollars

 Closed-end funds

 1 Total financial assets 7.6 7.3 7.5 8.9 8.6 6.1 7.8 8.5 9.9 9.0 1

 2 Debt securities 2.1 2.0 2.2 2.6 2.6 1.8 2.4 2.7 3.3 3.0 2

 3 Treasury securities 0.5 0.5 0.5 0.6 0.6 0.5 0.6 0.7 0.8 0.7 3

 4 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 1.5 1.5 1.7 2.0 2.0 1.4 1.8 2.0 2.5 2.3 5

 6 Corporate equities 5.6 5.3 5.4 6.3 6.0 4.3 5.4 5.7 6.6 5.9 6

 7 Total shares outstanding (liabilities) 7.6 7.3 7.5 8.9 8.6 6.1 7.8 8.5 9.9 9.0 7

 Exchange-traded funds

 8 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Total shares outstanding (liabilities) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14
L

e

v

els

94 Historical Annuals, 1965-1974, March 10, 2016

L.124 Government-Sponsored Enterprises (GSEs) (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 18.9 23.9 23.9 27.1 36.3 46.6 47.3 51.3 70.0 88.2 1

 2 Checkable deposits and currency 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 2

 3 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Federal funds and security repos 0.0 0.0 0.0 0.0 0.2 1.0 0.4 0.8 3.0 2.1 4

 5 Debt securities 1.9 2.8 2.9 2.7 2.1 3.2 2.7 1.9 1.7 3.0 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.2 1.1 6

 7 Treasury securities 1.8 2.7 2.7 2.6 2.0 3.1 2.5 1.2 1.1 1.4 7

 8 Agency- and GSE-backed securities 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.4 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Loans 16.4 20.5 20.4 23.8 33.0 40.7 42.3 47.1 62.7 82.3 11

 12 Other loans and advances 9.6 11.1 9.3 10.5 15.3 17.6 15.6 16.4 24.9 34.2 12

 13 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Farm Credit System 3.6 4.2 4.9 5.2 6.0 7.0 7.7 8.4 9.8 12.4 14

 15 FHLB 6.0 6.9 4.4 5.3 9.3 10.6 7.9 8.0 15.1 21.8 15

 16 Mortgages 6.8 9.4 11.1 13.3 17.7 23.0 26.7 30.7 37.8 48.1 16

 17 Home 2.5 4.4 5.5 7.2 10.9 15.5 17.6 19.5 22.8 28.4 17

 18 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Other 2.5 4.4 5.5 7.2 10.9 15.5 17.6 19.5 22.8 28.4 19

 20 Multifamily residential 0.0 0.0 0.0 0.0 0.0 0.3 1.1 2.1 4.0 6.2 20

 21 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other 0.0 0.0 0.0 0.0 0.0 0.3 1.1 2.1 4.0 6.2 22

 23 Farm 4.3 5.0 5.6 6.1 6.7 7.2 7.9 9.1 10.9 13.5 23

 24 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Miscellaneous assets 0.4 0.4 0.4 0.4 0.8 1.5 1.7 1.4 2.3 0.5 25

 26 Total liabilities 18.1 23.1 23.0 26.2 35.4 45.4 46.0 49.9 68.4 86.0 26

 27 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Debt securities (GSE issues) (4) 13.8 18.9 18.4 21.6 30.6 38.9 40.0 43.5 59.8 76.4 28

 29 Consolidated trusts (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Other 13.8 18.9 18.4 21.6 30.6 38.9 40.0 43.5 59.8 76.4 30

 31 Loans (U.S. government loans) 0.3 0.1 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.7 31

 32 Miscellaneous liabilities 3.9 4.1 4.6 4.4 4.7 6.5 6.0 6.4 8.5 8.9 32

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (L.125) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets (L.124).

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

L.125 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars

 1 Total financial assets 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 1

 2 Home mortgages 0.1 0.3 0.7 1.0 1.4 2.5 6.7 10.7 13.6 18.0 2

 3 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.4 0.6 0.8 3

 4 Commercial mortgages 0.1 0.2 0.3 0.4 0.4 0.5 0.6 0.9 1.1 0.0 4

 5 Farm mortgages 0.7 0.9 1.0 1.1 1.4 1.7 2.1 2.4 2.7 2.6 5

 6 Total pool securities (liabilities)(2) 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (L.125) are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (L.124). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 95

L.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Debt securites 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Mortgages (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Home 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Multifamily residential 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Commercial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Trade credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Miscellaneous assets (funding agreements) (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Total liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Corporate bonds (net) (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 Memo:

 Securitized assets not included above

 18 Consumer leases (5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 REIT assets (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 Securitized liabilities not included above

 20 Commercial paper (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Funding agreements with life insurance companies.

(4) Liabilities net of assets.

(5) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(6) Included on table L.128.

(7) Included on table L.111 line 45.
L

e

v

els

96 Historical Annuals, 1965-1974, March 10, 2016

L.127 Finance Companies (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 48.9 50.7 51.8 57.6 67.1 70.8 78.9 90.5 104.1 107.5 1

 2 Checkable deposits and currency 1.5 1.6 1.7 1.7 1.8 2.0 2.2 2.4 2.6 2.8 2

 3 Time and savings deposits 0.5 0.5 0.6 0.6 0.6 0.7 0.7 0.8 0.9 0.9 3

 4 Debt securities (corporate and foreign bonds) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Loans 42.7 44.9 45.5 50.6 59.2 61.5 67.6 77.5 89.4 94.8 5

 6 Other loans and advances 13.5 14.6 14.3 16.5 21.5 21.8 23.2 27.4 32.3 37.2 6

 7 Mortgages 4.5 3.9 4.3 4.9 5.7 7.5 10.0 12.2 14.5 13.1 7

 8 Consumer credit 24.7 26.4 26.9 29.2 32.0 32.1 34.4 38.0 42.6 44.6 8

 9 U.S. direct investment abroad 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.8 0.9 0.9 9

 10 Miscellaneous assets 3.7 3.0 3.4 4.0 4.7 5.8 7.6 8.9 10.3 8.1 10

 11 Total liabilities 43.3 44.4 44.7 49.9 58.6 61.6 69.3 80.4 93.8 96.8 11

 12 Debt securities 23.6 28.7 31.4 34.6 41.7 43.2 45.1 47.8 53.7 62.9 12

 13 Open market paper 8.5 12.0 14.1 16.9 23.0 23.6 23.1 21.9 23.8 27.4 13

 14 Corporate bonds 15.1 16.6 17.3 17.7 18.8 19.6 22.0 26.0 29.9 35.5 14

 15 Loans 11.7 11.1 10.7 11.8 12.8 15.0 15.9 20.9 24.4 22.2 15

 16 Depository institution loans n.e.c. 11.7 11.1 10.7 11.8 12.8 15.0 15.9 20.9 24.4 22.2 16

 17 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Taxes payable 0.3 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.3 18

 19 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 19

 20 Miscellaneous liabilities 7.6 4.4 2.4 3.2 3.8 3.1 7.9 11.4 15.4 11.3 20

 21 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.6 3.0 3.6 3.3 21

 22 Other 7.6 4.4 2.4 3.2 3.8 3.1 7.4 8.4 11.8 8.1 22

 Memo:

 23 Consumer leases not included above (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (5), table L.126.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 97

L.128 Real Estate Investment Trusts (REITs) (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 0.0 0.0 0.0 0.8 2.0 3.9 6.4 11.7 16.6 16.4 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Loans (mortgages) 0.0 0.0 0.0 0.8 2.0 3.9 6.2 10.4 16.0 16.1 6

 7 Home 0.0 0.0 0.0 0.0 0.2 0.6 0.8 1.2 1.9 1.7 7

 8 Multifamily residential 0.0 0.0 0.0 0.1 0.5 1.3 2.2 4.2 6.6 6.8 8

 9 Commercial 0.0 0.0 0.0 0.7 1.3 2.0 3.2 5.0 7.5 7.7 9

 10 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.3 0.7 0.3 10

 11 Total liabilities 0.0 0.0 0.0 0.8 1.5 2.2 4.1 9.1 14.1 15.8 11

 12 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Debt securities 0.0 0.0 0.0 0.0 0.1 0.6 1.8 4.6 5.9 2.8 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.8 3.2 4.0 0.7 14

 15 Corporate bonds 0.0 0.0 0.0 0.0 0.1 0.6 1.0 1.4 1.9 2.1 15

 16 Loans 0.0 0.0 0.0 0.8 1.4 1.6 2.3 4.1 7.8 11.2 16

 17 Depository institution loans n.e.c. 0.0 0.0 0.0 0.6 1.0 1.0 1.6 3.0 6.3 9.6 17

 18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Mortgages 0.0 0.0 0.0 0.2 0.4 0.5 0.7 1.2 1.5 1.6 19

 20 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.4 1.9 20

 Memo:

 21 Securitized assets included above 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables L.128.e and L.128.m.
L

e

v

els

98 Historical Annuals, 1965-1974, March 10, 2016

L.128.e Equity Real Estate Investment Trusts

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 0.0 0.0 0.0 0.7 1.8 3.7 5.9 10.7 15.1 14.7 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Debt securities (corporate and foreign bonds) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Loans (mortgages) 0.0 0.0 0.0 0.5 1.0 1.7 2.8 4.7 7.1 7.3 4

 5 Home 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Multifamily residential 0.0 0.0 0.0 0.0 0.2 0.5 0.8 1.5 2.4 2.4 6

 7 Commercial 0.0 0.0 0.0 0.5 0.8 1.3 2.0 3.1 4.7 4.8 7

 8 Miscellaneous assets 0.0 0.0 0.0 0.3 0.8 1.9 3.1 6.0 7.9 7.4 8

 9 Total liabilities 0.0 0.0 0.0 0.7 1.3 1.9 3.7 8.1 12.6 14.1 9

 10 Debt securities (corporate bonds) 0.0 0.0 0.0 0.0 0.1 0.5 0.8 1.1 1.5 1.7 10

 11 Loans 0.0 0.0 0.0 0.7 1.3 1.5 2.2 3.9 7.3 10.5 11

 12 Depository institution loans n.e.c. 0.0 0.0 0.0 0.5 0.9 1.0 1.5 2.8 5.9 8.9 12

 13 Mortgages 0.0 0.0 0.0 0.2 0.4 0.5 0.7 1.2 1.5 1.6 13

 14 Multifamily residential 0.0 0.0 0.0 0.1 0.1 0.2 0.2 0.4 0.5 0.5 14

 15 Commercial 0.0 0.0 0.0 0.1 0.3 0.4 0.5 0.8 1.0 1.1 15

 16 Miscellaneous liabilities 0.0 0.0 0.0 -0.0 -0.1 -0.0 0.7 3.1 3.7 1.9 16

L.128.m Mortgage Real Estate Investment Trusts

Billions of dollars

 1 Total financial assets 0.0 0.0 0.0 0.1 0.2 0.2 0.5 1.0 1.6 1.7 1

 2 Checkable deposits and currency 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Loans (mortgages) 0.0 0.0 0.0 0.3 1.0 2.2 3.4 5.7 8.8 8.8 6

 7 Home 0.0 0.0 0.0 0.0 0.2 0.6 0.8 1.2 1.8 1.7 7

 8 Multifamily residential 0.0 0.0 0.0 0.0 0.3 0.8 1.4 2.7 4.2 4.3 8

 9 Commercial 0.0 0.0 0.0 0.3 0.5 0.8 1.2 1.8 2.8 2.8 9

 10 Miscellaneous assets 0.0 0.0 0.0 -0.3 -0.8 -1.9 -2.9 -4.7 -7.3 -7.1 10

 11 Total liabilities 0.0 0.0 0.0 0.1 0.2 0.2 0.5 1.0 1.6 1.7 11

 12 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Debt securities 0.0 0.0 0.0 0.0 0.0 0.1 1.0 3.5 4.4 1.2 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.8 3.2 4.0 0.7 14

 15 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.3 0.4 0.4 15

 16 Loans 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.4 0.7 16

 17 Depository institution loans n.e.c. 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.4 0.7 17

 18 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.1 0.0 -0.7 -2.7 -3.3 -0.1 19

 Memo:

 20 Securitized assets included above 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Home mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 99

L.129 Security Brokers and Dealers

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 10.3 11.3 14.7 18.5 15.4 16.2 17.6 22.9 20.3 18.2 1

 2 Checkable deposits and currency 0.7 0.8 1.0 1.5 1.4 1.1 1.1 1.1 0.9 0.8 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities 2.4 3.2 2.9 3.5 3.7 6.0 4.6 6.0 7.5 7.8 4

 5 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.0 3.0 5

 6 Treasury securities 1.1 1.7 1.0 1.8 1.7 3.4 1.8 2.0 2.0 2.3 6

 7 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Municipal securities 0.5 0.5 0.5 0.5 0.4 0.9 1.0 0.9 1.1 0.7 8

 9 Corporate and foreign bonds 0.9 1.0 1.4 1.2 1.6 1.7 1.8 2.0 2.4 1.8 9

 10 Loans (other loans and advances) 6.0 6.0 9.2 12.0 8.5 7.2 9.8 13.5 9.1 7.6 10

 11 Corporate equities 1.2 1.3 1.7 1.5 1.9 2.0 2.1 2.4 2.8 2.2 11

 12 U.S. direct investment abroad 0.6 0.7 0.8 0.8 0.8 0.9 0.9 1.0 1.0 1.1 12

 13 Miscellaneous assets -0.6 -0.7 -0.8 -0.8 -0.8 -0.9 -0.9 -1.0 -1.0 -1.1 13

 14 Total liabilities 10.1 11.0 14.2 17.7 14.6 15.5 16.7 21.7 18.1 15.3 14

 15 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Debt securities (corporate bonds) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Loans 8.7 9.6 12.7 16.2 13.2 14.2 15.3 19.5 16.1 13.2 17

 18 Depository institution loans n.e.c. (1) 9.0 9.6 10.6 11.3 10.5 10.6 11.7 16.8 12.5 9.7 18

 19 Other loans and advances -0.3 -0.1 2.2 4.9 2.7 3.6 3.6 2.7 3.6 3.4 19

 20 Trade payables 0.4 0.4 0.5 0.5 0.6 0.6 0.7 0.8 0.8 0.9 20

 21 Taxes payable 0.1 0.1 0.2 0.2 0.1 0.2 0.1 0.2 0.2 0.0 21

 22 Foreign direct investment in U.S. 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.3 0.3 0.5 22

 23 Miscellaneous liabilities 0.7 0.6 0.6 0.5 0.5 0.4 0.4 1.0 0.8 0.7 23

 24 Investment by parent companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.3 5.3 24

 25 Other 0.7 0.6 0.6 0.5 0.5 0.4 0.4 1.0 -2.5 -4.5 25

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
L

e

v

els

100 Historical Annuals, 1965-1974, March 10, 2016

L.130 Holding Companies (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 0.0 0.0 0.0 0.0 8.7 14.7 18.9 27.6 43.0 49.3 1

 2 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Loans (other loans and advances) 0.0 0.0 0.0 0.0 3.9 3.0 2.8 2.6 4.3 4.9 8

 9 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Miscellaneous assets 0.0 0.0 0.0 0.0 4.7 11.8 16.1 25.0 38.7 44.4 10

 11 Net trans. with depository subs. 0.0 0.0 0.0 0.0 4.0 10.0 15.0 21.0 22.5 28.5 11

 12 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Net trans. with life insurance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Net trans. with finance company subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.6 3.0 3.6 3.3 14

 15 Net trans. with broker and dealer subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.3 5.3 15

 16 Net trans. with foreign subs. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.5 3.5 16

 17 Other 0.0 0.0 0.0 0.0 0.7 1.8 0.5 1.1 6.9 3.9 17

 18 Total liabilities 0.0 0.0 0.0 0.0 4.7 5.0 7.8 9.4 14.7 16.8 18

 19 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Debt securities 0.0 0.0 0.0 0.0 4.3 3.4 4.2 6.8 10.0 14.4 20

 21 Commercial paper 0.0 0.0 0.0 0.0 4.3 2.3 2.0 2.6 4.9 8.3 21

 22 Corporate bonds 0.0 0.0 0.0 0.0 0.0 1.1 2.2 4.2 5.1 6.1 22

 23 Loans (depository institution loans n.e.c.) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 23

 24 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.4 1.6 3.6 2.6 4.7 1.6 24

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 101

L.131 Funding Corporations (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 1

 2 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Debt securities 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 4

 5 Open market paper 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 5

 6 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Corporate equities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Investment in foreign banking offices 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Investment in brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Total liabilities 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 12

 13 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Depository institution loans n.e.c. (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other loans and advances (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Miscellaneous liabilities 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 20

 21 Securities loaned (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Equity interest under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other (net) 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 23

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP.
L

e

v

els

102 Historical Annuals, 1965-1974, March 10, 2016

L.132 Rest of the World

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total financial assets 61.2 64.0 83.6 95.5 105.0 114.0 142.4 170.3 175.8 189.5 1

 2 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 1.7 2.5 2.8 2.8 2

 3 Net interbank assets 3.8 6.7 7.3 9.4 16.8 10.5 5.8 6.8 4.1 3.9 3

 4 U.S. checkable deposits and currency 8.5 9.2 9.8 10.6 11.5 12.4 12.7 15.1 18.9 22.7 4

 5 U.S. time deposits 6.1 6.4 7.7 7.4 8.8 7.1 7.5 10.6 13.4 21.1 5

 6 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.5 7

 8 Debt securities 17.4 17.3 20.0 22.6 23.2 35.0 62.8 73.2 74.7 79.5 8

 9 Open market paper 2.0 2.2 2.2 2.8 3.8 4.3 4.1 4.1 4.4 4.8 9

 10 Treasury securities 13.1 11.2 13.2 12.6 10.2 19.7 46.3 54.5 54.3 58.3 10

 11 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 33.0 31.8 31.9 35.2 11

 12 Other Treasury securities 13.1 11.2 13.2 12.6 10.2 19.7 13.3 22.6 22.4 23.1 12

 13 Agency- and GSE-backed securities 1.3 1.7 2.0 2.4 2.7 3.0 3.1 3.2 3.2 2.8 13

 14 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S. corporate bonds (1) 1.0 2.2 2.5 4.9 6.4 7.9 9.4 11.4 12.7 13.7 15

 16 Loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 16

 17 U.S. corporate equities 14.6 12.6 25.5 29.5 26.8 27.2 30.8 39.1 33.5 23.9 17

 18 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Trade receivables 2.2 2.8 3.6 5.4 6.3 7.7 7.4 8.4 10.1 12.1 19

 20 Foreign direct investment in U.S. (2) 8.5 8.9 9.7 10.5 11.7 13.2 13.6 14.7 17.8 22.6 20

 21 Total liabilities 103.1 109.5 121.8 135.8 149.0 162.2 176.0 204.4 217.8 247.9 21

 22 U.S. official reserve assets (3) 1.6 1.6 2.8 4.8 5.1 3.4 2.1 2.7 2.7 4.2 22

 23 U.S. private deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 23

 24 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Debt securities 9.1 9.9 11.1 12.2 13.2 14.1 15.0 16.0 17.0 19.6 25

 26 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 26

 27 Bonds 9.1 9.9 11.1 12.2 13.2 14.1 15.0 16.0 17.0 19.4 27

 28 Loans 28.3 29.7 32.2 33.9 36.0 38.0 41.5 45.1 50.4 61.7 28

 29 Depository institution loans n.e.c. 7.1 7.1 6.7 6.3 6.0 5.8 7.3 10.4 13.1 17.8 29

 30 Other loans and advances 21.2 22.6 25.5 27.6 30.0 32.1 34.2 34.7 37.3 44.0 30

 31 Trade payables 2.7 3.0 3.7 4.3 4.9 5.9 6.4 7.0 8.7 11.7 31

 32 U.S. direct investment abroad (1,2) 55.4 59.0 65.6 73.7 83.1 94.3 103.9 125.5 126.2 135.3 32

 33 Miscellaneous liabilities 5.2 5.4 5.4 5.4 5.5 5.8 5.8 5.9 9.4 10.4 33

 34 U.S. equity in IBRD, etc. 1.3 1.2 1.4 1.5 1.7 1.9 2.2 2.4 2.8 3.4 34

 35 Nonofficial foreign currencies 3.9 4.2 4.0 3.9 3.8 3.8 3.7 3.5 4.1 3.6 35

 36 Investment by holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.5 3.5 36

 Memo:

 37 Market value of foreign equities 5.0 4.3 5.2 6.5 7.0 6.6 7.6 10.5 10.0 9.0 37

 held by U.S. residents (4)

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

(2) Direct investment is valued on a current-cost basis.

(3) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 103

L.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 1.6 1.6 2.8 4.8 5.1 4.3 3.8 5.2 5.5 7.0 1

 2 Federal government: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 1.7 2.5 2.8 2.8 2

 3 Rest of the world 1.6 1.6 2.8 4.8 5.1 3.4 2.1 2.7 2.7 4.2 3

 4 SDR holdings 0.0 0.0 0.0 0.0 0.0 0.9 1.2 2.0 2.2 2.4 4

 5 Reserve position in IMF 0.9 0.3 0.4 1.3 2.3 1.9 0.6 0.5 0.6 1.9 5

 6 Other reserves 0.8 1.3 2.3 3.5 2.8 0.6 0.3 0.2 0.0 0.0 6

 7 Total assets 15.7 14.9 14.8 15.7 17.0 15.4 14.0 15.6 17.1 18.7 7

 8 Federal government 1.4 0.9 1.3 3.3 4.7 3.6 2.2 2.6 2.9 4.3 8

 9 Monetary gold (2) 0.3 0.1 0.1 0.5 1.5 0.3 0.1 0.1 0.1 0.0 9

 10 SDR holdings 0.0 0.0 0.0 0.0 0.0 0.9 1.2 2.0 2.2 2.4 10

 11 Reserve position in IMF 0.9 0.4 0.5 1.3 2.4 2.0 0.7 0.5 0.6 1.9 11

 12 Other reserves 0.2 0.4 0.7 1.5 0.8 0.4 0.3 0.0 0.0 0.0 12

 13 Rest of the world: SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 1.7 2.5 2.8 2.8 13

 14 Monetary authority 14.3 14.0 13.5 12.4 12.3 10.9 10.1 10.5 11.5 11.6 14

 15 Monetary gold (2) 13.7 13.2 12.0 10.4 10.4 10.7 10.1 10.4 11.6 11.7 15

 16 Reserve position in IMF -0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 16

 17 Other reserves 0.6 0.9 1.6 2.1 2.0 0.3 0.0 0.2 0.0 0.0 17

 18 Discrepancy: monetary gold -14.1 -13.2 -12.1 -10.9 -11.9 -11.1 -10.2 -10.5 -11.7 -11.7 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars

 SDR certificates:

 1 Liab: Federal government 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 1

 2 Asset: Monetary authority 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 2

 Treasury currency:

 3 Liab: Federal government 3.1 4.0 4.6 5.1 5.3 5.6 6.0 6.6 7.0 7.3 3

 4 Asset: Monetary authority 5.4 6.2 6.6 6.8 6.8 7.1 7.6 8.3 8.7 9.3 4

 5 Discrepancy (seigniorage) -2.4 -2.2 -2.0 -1.7 -1.5 -1.6 -1.6 -1.7 -1.7 -1.9 5

L.202 U.S. Deposits in Foreign Countries

Billions of dollars

 1 Total rest of the world liability 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 1

 Held by:

 2 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Nonfinancial corporate business 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 3

 4 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Discrepancy--unallocated assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5
L

e

v

els

104 Historical Annuals, 1965-1974, March 10, 2016

L.203 Net Interbank Transactions

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 23.7 30.4 32.7 39.1 47.4 43.6 40.8 36.5 36.3 35.6 1

 2 Monetary authority 23.3 25.2 27.0 29.1 29.4 31.2 35.3 34.3 37.7 37.5 2

 3 U.S.-chartered depository institutions 1.0 5.3 6.3 10.5 17.4 13.3 6.8 1.9 -3.2 -8.5 3

 4 Foreign banking offices in U.S. 2.4 2.7 2.5 2.5 3.2 2.3 3.1 5.6 6.9 12.2 4

 5 Banks in U.S.-affiliated areas -0.1 -0.2 -0.2 -0.2 -0.3 -0.4 -0.5 -0.7 -1.0 -0.8 5

 6 Credit unions -2.8 -2.7 -2.9 -2.8 -2.3 -2.9 -3.9 -4.5 -4.1 -4.8 6

 7 Total assets 29.5 34.6 36.9 42.1 49.9 46.2 45.6 47.0 46.2 43.6 7

 8 Monetary authority 2.3 2.7 2.6 3.7 3.6 4.6 4.4 6.0 4.4 2.3 8

 9 U.S.-chartered depository institutions 23.3 25.2 27.0 29.1 29.4 31.2 35.3 34.3 37.7 37.5 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

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

 12 Rest of the world 3.8 6.7 7.3 9.4 16.8 10.5 5.8 6.8 4.1 3.9 12

 13 Discrepancy -5.7 -4.2 -4.2 -3.1 -2.5 -2.7 -4.7 -10.5 -9.9 -8.0 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 4.9 5.5 5.9 7.2 7.3 7.0 7.5 8.6 10.7 11.6 14

 15 Asset: U.S.-chartered depository institutions 4.9 5.5 5.9 7.2 7.3 7.0 7.5 8.6 10.7 11.6 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority 18.4 19.8 21.1 21.9 22.1 24.2 27.8 25.6 27.1 25.8 17

 18 Asset: U.S.-chartered depository institutions 18.4 19.8 21.1 21.9 22.1 24.2 27.8 25.6 27.1 25.8 18

 19 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions 2.3 2.7 2.6 3.7 3.6 4.6 4.4 6.0 4.4 2.3 21

 22 Asset: Monetary authority 2.3 2.7 2.6 3.7 3.6 4.6 4.4 6.0 4.4 2.3 22

 23 Federal Reserve float 2.2 2.5 2.5 3.5 3.4 4.3 4.3 4.0 3.1 2.0 23

 24 Loans to member banks 0.1 0.2 0.1 0.2 0.2 0.3 0.0 2.0 1.3 0.3 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) 1.4 4.0 4.2 6.0 12.5 6.5 1.6 1.1 0.2 -1.3 25

 26 Due to foreign affiliates 1.4 4.0 4.2 6.0 13.2 7.2 2.3 2.1 1.9 4.5 26

 27 - Due from foreign affiliates 0.0 0.0 0.0 0.0 0.7 0.7 0.7 1.0 1.6 5.8 27

 28 Foreign banking offices in U.S. (net) 2.8 3.0 3.4 3.7 4.7 4.5 5.0 6.7 5.2 7.5 28

 29 Due to foreign affiliates 3.4 3.7 4.3 4.8 6.0 6.3 7.0 9.8 9.5 14.0 29

 30 - Due from foreign affiliates 0.7 0.8 0.9 1.1 1.3 1.8 2.0 3.0 4.3 6.5 30

 31 Less: Deposits at foreign banks 0.3 0.3 0.4 0.4 0.4 0.6 0.8 1.1 1.4 2.3 31

 32 U.S.-chartered depository institutions 0.3 0.3 0.3 0.3 0.4 0.5 0.6 0.6 0.7 1.3 32

 33 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.4 0.7 0.9 33

 34 Plus: Loans from foreign banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Asset: Rest of the world (1) 3.8 6.7 7.3 9.4 16.8 10.5 5.8 6.8 4.1 3.9 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) -2.5 -1.1 -0.2 1.1 1.6 2.6 1.4 -4.5 -7.1 -8.1 38

 39 Due to (3): -2.4 -0.9 -0.1 1.3 2.0 3.3 3.2 -0.7 1.1 4.8 39

 40 Foreign banking offices in U.S. 0.4 0.4 1.0 1.4 1.9 2.7 3.5 4.5 5.8 7.3 40

 41 Banks in U.S.-affiliated areas 0.1 0.2 0.2 0.2 0.3 0.4 0.5 0.7 1.0 0.8 41

 42 Credit unions 2.8 2.7 2.9 2.8 2.3 2.9 3.9 4.5 4.1 4.8 42

 43 - Due from: Foreign banking offices in U.S. 0.1 0.2 0.1 0.2 0.4 0.7 1.8 3.8 8.2 12.9 43

 44 Unallocated (2) -5.7 -4.2 -4.2 -3.1 -2.5 -2.7 -4.7 -10.5 -9.9 -8.0 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 105

L.204 Checkable Deposits and Currency

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 189.1 193.6 208.9 224.0 232.1 244.8 262.9 287.0 304.7 311.7 1

 2 Monetary authority 38.8 41.2 44.1 45.6 48.9 52.0 56.5 60.4 65.0 71.9 2

 3 Federal government cash and deposits 1.4 1.6 2.5 1.4 2.0 1.6 2.5 2.2 2.9 3.3 3

 4 Due to government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Deposits due to foreign 0.2 0.4 0.4 0.5 0.4 0.3 0.5 0.4 0.3 0.5 5

 6 Currency outside banks 37.2 39.2 41.2 43.8 46.6 50.0 53.5 57.9 61.8 68.1 6

 7 U.S.-chartered depository institutions 147.3 148.9 160.9 173.1 177.7 182.9 195.9 218.9 231.6 230.4 7

 8 Federal government deposits 5.5 5.0 5.2 5.0 5.1 7.9 10.2 10.9 9.9 4.8 8

 9 Deposits due to foreign 4.1 4.3 4.6 4.8 5.2 5.7 5.2 6.3 8.6 10.6 9

 10 Private domestic deposits 137.7 139.6 151.1 163.2 167.5 169.2 180.5 201.7 213.1 214.9 10

 11 Foreign banking offices in U.S. 1.7 1.8 2.0 3.1 3.1 7.3 7.4 4.2 4.5 5.7 11

 12 Deposits due to foreign 0.3 0.3 0.3 0.5 0.6 0.6 0.8 1.6 2.3 2.8 12

 13 Private domestic deposits 1.3 1.5 1.6 2.6 2.5 6.7 6.6 2.7 2.2 2.8 13

 14 Banks in U.S.-affiliated areas 1.3 1.6 1.9 2.2 2.3 2.6 3.0 3.3 3.7 3.7 14

 15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 15

 16 Total assets 189.1 193.6 208.9 224.0 232.1 244.8 262.9 287.0 304.7 311.7 16

 17 Household sector 91.6 93.5 103.8 112.7 110.9 118.6 132.1 144.4 152.5 157.4 17

 18 Nonfinancial business 51.5 50.9 53.4 56.3 62.0 63.1 61.7 64.4 70.4 71.9 18

 19 Corporate 33.3 32.6 35.1 37.8 43.4 44.4 42.9 45.3 46.7 48.2 19

 20 Noncorporate 18.2 18.2 18.3 18.5 18.6 18.7 18.8 19.1 23.7 23.7 20

 21 Federal government 6.8 6.4 7.5 5.1 6.9 9.8 13.2 13.3 12.6 8.3 21

 22 State and local governments 9.8 10.3 11.1 10.4 12.3 11.3 12.1 12.7 12.7 12.9 22

 23 Domestic financial sectors 6.5 6.6 6.9 7.8 7.7 7.9 8.7 9.8 10.3 11.0 23

 24 Property-casualty insurance companies 1.3 1.3 1.3 1.4 1.3 1.4 1.5 1.5 1.5 1.6 24

 25 Life insurance companies 1.5 1.5 1.6 1.7 1.6 1.8 1.8 2.0 2.1 2.0 25

 26 Private pension funds 0.9 0.8 0.9 1.0 1.0 1.1 1.3 1.8 2.5 3.4 26

 27 State and local govt. retirement funds 0.3 0.4 0.3 0.4 0.3 0.4 0.5 0.8 0.5 0.3 27

 28 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Government-sponsored enterprises 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 29

 30 Finance companies 1.5 1.6 1.7 1.7 1.8 2.0 2.2 2.4 2.6 2.8 30

 31 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Brokers and dealers 0.7 0.8 1.0 1.5 1.4 1.1 1.1 1.1 0.9 0.8 32

 33 Rest of the world 8.5 9.2 9.8 10.6 11.5 12.4 12.7 15.1 18.9 22.7 33

 34 Checkable deposits 4.6 5.0 5.3 5.9 6.2 6.7 6.5 8.3 11.2 14.0 34

 35 Currency 3.9 4.3 4.5 4.8 5.3 5.7 6.2 6.8 7.7 8.7 35

 36 Mail float 14.5 16.8 16.4 21.0 20.7 21.7 22.3 27.4 27.3 27.5 36
L

e

v

els

106 Historical Annuals, 1965-1974, March 10, 2016

L.205 Time and Savings Deposits 

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 319.4 339.8 380.4 413.7 413.2 468.1 549.9 638.4 716.8 795.5 1

 2 Small time and savings deposits 288.5 306.5 341.2 367.8 382.3 412.9 481.3 551.0 590.4 628.1 2

 3 U.S.-chartered depository institutions 279.2 296.4 330.1 355.5 368.0 396.8 462.2 528.5 564.8 599.3 3

 4 Foreign banking offices in U.S. 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.4 0.5 4

 5 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.5 0.6 0.6 0.7 0.8 0.8 5

 6 Credit unions 9.2 10.0 11.1 12.3 13.7 15.5 18.3 21.6 24.5 27.5 6

 7 Large time deposits (1) 31.0 33.3 39.2 45.9 30.9 55.1 68.6 87.4 126.4 167.4 7

 8 U.S.-chartered depository institutions 30.5 32.8 38.6 45.2 29.5 53.3 66.4 84.5 122.6 162.6 8

 9 Foreign banking offices in U.S. 0.4 0.5 0.6 0.7 0.9 1.3 1.5 2.2 3.0 4.0 9

 10 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.5 0.6 0.6 0.7 0.8 0.8 10

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

 12 Total assets 319.4 339.8 380.4 413.7 413.2 468.1 549.9 638.4 716.8 795.5 12

 13 Household sector 288.5 307.1 342.3 372.5 381.3 423.5 491.0 564.2 624.9 681.0 13

 14 Nonfinancial business 9.0 8.6 9.7 9.1 3.7 6.7 12.5 16.5 22.8 28.2 14

 15 Corporate 9.0 8.6 9.7 9.1 3.7 5.3 9.5 11.9 16.6 20.5 15

 16 Noncorporate 0.0 0.0 0.0 0.0 0.0 1.4 3.0 4.6 6.2 7.8 16

 17 Federal government 0.3 0.2 0.3 0.4 0.2 0.5 0.5 0.6 0.4 0.5 17

 18 State and local governments 12.2 13.5 15.7 18.9 13.1 23.0 30.2 37.0 43.6 48.5 18

 19 Domestic financial sectors 3.4 4.0 4.7 5.5 6.2 7.2 8.2 9.5 11.7 16.0 19

 20 Private pension funds 2.9 3.4 4.0 4.7 5.4 6.3 7.3 8.5 10.0 12.0 20

 21 State and local govt. retirement funds 0.0 0.0 0.2 0.2 0.2 0.2 0.1 0.2 0.8 1.5 21

 22 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.6 22

 23 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Finance companies 0.5 0.5 0.6 0.6 0.6 0.7 0.7 0.8 0.9 0.9 24

 25 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Rest of the world 6.1 6.4 7.7 7.4 8.8 7.1 7.5 10.6 13.4 21.1 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares

Billions of dollars

 1 Total assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 1

 2 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 2

 3 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 107

L.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 2.5 2.9 5.0 7.5 14.8 16.7 24.7 34.9 50.9 64.8 1

 2 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 U.S.-chartered depository institutions 2.4 2.8 5.0 7.5 14.7 16.6 24.2 34.1 48.7 61.6 3

 4 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 4

 5 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 5

 6 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.1 0.1 0.5 0.8 2.3 3.1 6

 7 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 7

 8 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 8

 9 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Total assets 3.5 6.5 6.9 8.6 19.0 19.0 25.8 33.8 53.3 59.7 17

 18 Nonfinancial corporate business 0.6 0.9 0.7 1.1 3.3 0.2 1.1 2.7 11.3 5.5 18

 19 State and local governments -0.7 0.8 0.3 -1.3 2.6 -1.4 -0.9 -1.0 0.5 -1.3 19

 20 Monetary authority 0.4 0.8 0.3 0.0 0.0 0.0 1.5 0.1 0.1 1.4 20

 21 U.S.-chartered depository institutions 2.1 2.5 3.9 6.6 10.1 16.5 20.9 27.5 32.9 46.1 21

 22 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 22

 23 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 23

 24 Foreign banking offices in U.S. 0.1 0.0 0.1 0.1 0.1 0.1 0.2 0.4 0.8 0.8 24

 25 Federal funds (2) ND ND ND ND ND ND ND ND ND ND 25

 26 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 26

 27 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Federal funds ND ND ND ND ND ND ND ND ND ND 28

 29 Security repurchase agreements ND ND ND ND ND ND ND ND ND ND 29

 30 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Private pension funds 0.6 0.7 0.9 1.0 1.1 1.2 1.3 2.1 2.5 3.0 32

 33 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 34

 35 Mutual funds 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 35

 36 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.2 1.0 0.4 0.8 3.0 2.1 36

 37 Of which: FHLB federal funds (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.5 41

 42 Discrepancy -1.1 -3.7 -1.9 -1.0 -4.2 -2.2 -1.0 1.1 -2.4 5.1 42

 Memo:

 43 Effective federal funds rate (percent) (4) 4.32 5.40 4.51 6.02 8.97 4.90 4.14 5.33 9.95 8.53 43

 Federal Reserve’s reverse repurchase agreement operations: (5)

 44 Liability: Monetary authority (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Asset: Money market mutual funds (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 Other financial institutions (8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

(1) Detailed data on federal funds and security repurchase agreements are only available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S.,

 2010:Q4 for credit unions, and 2000:Q1 for FHLB.

(2) Excludes term federal funds.

(3) Includes term federal funds.

(4) The effective federal funds rate is a weighted average of rates on brokered trades. Annualized using a 360-day year.

(5) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).

(6) Included in line 2.

(7) Included in line 34.

(8) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
L

e

v

els

108 Historical Annuals, 1965-1974, March 10, 2016

L.208 Debt Securities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 By instrument

 1 Total debt securities 530.4 564.1 606.7 651.5 697.6 759.2 833.4 896.3 966.1 1062.9 1

 2 Open market paper 12.7 17.3 21.4 25.6 38.1 40.2 40.1 41.7 50.1 67.8 2

 3 Treasury securities 276.7 280.3 290.5 301.2 302.0 317.5 346.3 363.5 372.2 387.1 3

 4 Agency- and GSE-backed securities 17.4 24.2 28.5 35.4 42.9 51.7 56.6 65.9 86.2 106.1 4

 5 Municipal securities 100.4 106.6 113.8 122.1 133.5 145.5 161.7 175.8 192.7 208.0 5

 6 Corporate and foreign bonds 123.1 135.7 152.5 167.1 181.1 204.3 228.8 249.4 264.9 293.9 6

 By sector

 7 Total liabilities 530.4 564.1 606.7 651.5 697.6 759.2 833.4 896.3 966.1 1062.9 7

 8 Domestic nonfinancial sectors 477.9 500.0 537.6 574.0 596.9 644.9 706.8 751.9 788.5 842.4 8

 9 Household sector (nonprofits) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 1.3 9

 10 Nonfinancial corporate business 98.1 109.1 125.2 139.3 152.4 173.9 191.9 205.4 217.7 243.2 10

 11 Federal government 279.4 284.3 298.6 312.6 311.0 325.5 353.3 371.4 380.6 395.3 11

 12 State and local governments 100.4 106.6 113.8 122.1 133.5 145.5 161.6 175.2 189.9 202.6 12

 13 Domestic financial sectors 43.4 54.2 58.0 65.4 87.5 100.2 111.6 128.3 160.6 201.0 13

 14 U.S.-chartered depository institutions 4.3 4.6 5.5 5.8 6.4 7.8 9.4 9.7 11.3 19.2 14

 15 Foreign banking offices in U.S. 0.7 0.7 0.9 0.9 1.1 1.4 1.6 1.4 1.8 3.7 15

 16 Government-sponsored enterprises 13.8 18.9 18.4 21.6 30.6 38.9 40.0 43.5 59.8 76.4 16

 17 Agency- and GSE-backed mortgage pools 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 17

 18 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Finance companies 23.6 28.7 31.4 34.6 41.7 43.2 45.1 47.8 53.7 62.9 19

 20 REITs 0.0 0.0 0.0 0.0 0.1 0.6 1.8 4.6 5.9 2.8 20

 21 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Holding companies 0.0 0.0 0.0 0.0 4.3 3.4 4.2 6.8 10.0 14.4 22

 23 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Rest of the world 9.1 9.9 11.1 12.2 13.2 14.1 15.0 16.0 17.0 19.6 24

 25 Total assets: 530.4 564.1 606.7 651.5 697.6 759.2 833.4 896.3 966.1 1062.9 25

 26 Domestic nonfinancial sectors 172.1 190.0 191.5 203.7 243.4 242.7 239.0 242.3 273.2 322.1 26

 27 Household sector 127.5 145.5 148.7 154.5 192.3 192.4 185.9 181.8 207.5 249.0 27

 28 Nonfinancial corporate business 19.8 18.6 16.9 19.3 17.8 19.1 24.4 26.3 23.4 26.7 28

 29 Nonfinancial noncorporate business 0.0 0.0 0.1 0.3 0.5 0.7 0.9 1.1 1.2 1.2 29

 30 Federal government 0.0 1.4 1.3 1.4 0.1 0.0 0.0 0.0 0.0 0.0 30

 31 State and local governments 24.8 24.6 24.6 28.3 32.8 30.5 27.7 33.1 41.1 45.2 31

 32 Domestic financial sectors 340.9 356.9 395.2 425.2 431.1 481.5 531.6 580.8 618.2 661.2 32

 33 Monetary authority 40.6 43.7 49.1 53.0 57.2 62.2 69.6 71.2 80.5 85.3 33

 34 U.S.-chartered depository institutions 124.6 123.9 147.4 161.4 151.6 178.4 208.6 228.5 229.9 236.8 34

 35 Foreign banking offices in U.S. 0.9 1.0 1.4 1.4 1.6 2.3 1.6 2.4 2.8 3.7 35

 36 Banks in U.S.-affiliated areas 0.2 0.3 0.4 0.4 0.5 0.5 0.7 1.0 1.0 1.0 36

 37 Credit unions 0.3 0.5 0.5 0.7 1.0 1.4 1.6 2.1 2.6 3.0 37

 38 Property-casualty insurance companies 20.4 21.9 23.3 25.2 26.8 30.6 34.4 38.2 41.6 46.2 38

 39 Life insurance companies 70.2 72.2 75.8 79.4 81.8 84.2 90.2 97.5 103.2 108.6 39

 40 Private pension funds 25.7 28.0 28.7 29.8 30.4 32.5 31.3 37.8 44.4 53.3 40

 41 Federal government retirement funds 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 41

 42 State and local govt. retirement funds 27.5 30.4 33.3 36.3 39.9 43.7 46.6 51.0 56.0 61.7 42

 43 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 43

 44 Mutual funds 3.9 5.1 4.3 4.1 5.1 5.7 5.5 6.0 6.6 7.4 44

 45 Closed-end funds 2.1 2.0 2.2 2.6 2.6 1.8 2.4 2.7 3.3 3.0 45

 46 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Government-sponsored enterprises 1.9 2.8 2.9 2.7 2.1 3.2 2.7 1.9 1.7 3.0 47

 48 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

 51 Brokers and dealers 2.4 3.2 2.9 3.5 3.7 6.0 4.6 6.0 7.5 7.8 51

 52 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

 53 Funding corporations 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 53

 54 Rest of the world 17.4 17.3 20.0 22.6 23.2 35.0 62.8 73.2 74.7 79.5 54

(1) Sum of open market paper, Treasury securities, agency- and GSE-backed securities, municipal securities, and corporate and foreign bonds.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 109

L.209 Open Market Paper

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total outstanding, all types 12.7 17.3 21.4 25.6 38.1 40.2 40.1 41.7 50.1 67.8 1

 2 Commercial paper 9.3 13.6 17.1 21.2 32.6 33.1 32.1 34.7 41.1 49.1 2

 3 Nonfinancial corporate business 0.8 1.6 3.0 4.2 5.4 7.1 6.2 7.0 8.4 12.5 3

 4 Foreign issues in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 4

 5 Nonfinancial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 5

 6 Financial 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Financial business 8.5 12.0 14.1 16.9 27.2 25.9 25.9 27.8 32.7 36.5 7

 8 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Finance companies 8.5 12.0 14.1 16.9 23.0 23.6 23.1 21.9 23.8 27.4 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.8 3.2 4.0 0.7 11

 12 Holding companies 0.0 0.0 0.0 0.0 4.3 2.3 2.0 2.6 4.9 8.3 12

 13 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Bankers’ acceptances (1) 3.4 3.6 4.4 4.5 5.5 7.1 8.0 7.0 9.0 18.7 14

 15 U.S.-chartered depository institutions 2.7 2.9 3.5 3.6 4.4 5.7 6.4 5.6 7.2 14.9 15

 16 Foreign banking offices in U.S. 0.7 0.7 0.9 0.9 1.1 1.4 1.6 1.4 1.8 3.7 16

 17 Holdings, by sector 12.7 17.3 21.4 25.6 38.1 40.2 40.1 41.7 50.1 67.8 17

 18 Household sector 6.0 8.3 10.1 12.2 18.5 16.6 13.8 9.3 14.1 22.5 18

 19 Nonfinancial corporate business 1.4 2.9 4.0 5.1 7.6 9.4 11.3 14.2 14.9 16.5 19

 20 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Monetary authority 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.6 21

 22 U.S.-chartered depository institutions (1) 1.8 1.7 2.7 2.6 3.0 4.1 4.5 4.3 3.5 4.3 22

 23 Foreign banking offices in U.S. (1) 0.2 0.2 0.3 0.3 0.5 0.9 0.9 1.2 1.4 2.1 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Life insurance companies 0.3 0.4 0.5 0.5 1.4 2.1 2.8 3.0 3.0 4.1 26

 27 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 3.1 5.4 27

 28 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.6 29

 30 Mutual funds 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 30

 31 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.2 1.1 31

 32 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.0 3.0 32

 33 Funding corporations 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 33

 34 Rest of the world 2.0 2.2 2.2 2.8 3.8 4.3 4.1 4.1 4.4 4.8 34

(1) Excludes banks’ holdings of own acceptances.
L

e

v

els

110 Historical Annuals, 1965-1974, March 10, 2016

L.210 Treasury Securities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 276.7 280.3 290.5 301.2 302.0 317.5 346.3 363.5 372.2 387.1 1

 2 Marketable Treasury securities 207.0 208.1 216.9 225.7 224.7 237.7 261.4 272.4 276.4 261.9 2

 3 Treasury bills 60.2 70.6 69.9 75.0 80.6 87.9 97.5 103.9 107.8 119.7 3

 4 Other Treasury notes, bonds, and TIPS 146.8 137.5 147.0 150.7 144.2 149.7 163.9 168.6 168.6 140.6 4

 5 Held in the Civil Service Retirement Fund (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.5 5

 6 Nonmarketable Treasury securities 69.7 72.2 73.6 75.5 77.2 79.8 84.9 91.1 95.9 125.2 6

 7 U.S. savings securities 49.7 50.2 51.2 51.9 51.8 52.1 54.4 57.7 60.4 63.3 7

 8 State and local government series (SLGS) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Thrift Savings Plan G Fund 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Federal govt. defined benefit pension plans 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 36.7 10

 11 Other nonmarketable securities 0.3 0.9 0.1 0.1 0.3 0.2 0.1 0.0 0.0 25.1 11

 12 Total assets 276.7 280.3 290.5 301.2 302.0 317.5 346.3 363.5 372.2 387.1 12

 13 Household sector 74.8 79.1 79.0 81.7 93.2 83.0 74.2 77.4 88.5 96.3 13

 14 U.S. savings securities (line 7) 49.7 50.2 51.2 51.9 51.8 52.1 54.4 57.7 60.4 63.3 14

 15 Other Treasury securities 25.1 28.8 27.8 29.9 41.4 31.0 19.8 19.7 28.1 32.9 15

 16 Nonfinancial corporate business 12.5 11.1 8.6 9.0 5.6 6.3 9.1 6.9 2.5 2.6 16

 17 Nonfinancial noncorporate business 0.0 0.0 0.1 0.3 0.5 0.7 0.9 1.1 1.2 1.2 17

 18 State and local governments 19.5 20.1 19.7 19.9 23.0 22.9 22.6 24.9 26.1 26.5 18

 19 SLGS (line 8) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Other Treasury securities 19.5 20.1 19.7 19.9 23.0 22.9 22.6 24.9 26.1 26.5 20

 21 Monetary authority 40.5 43.7 49.0 52.9 57.2 62.1 69.0 69.8 78.5 80.1 21

 22 Treasury bills 9.1 16.2 16.0 18.8 22.3 26.0 30.2 29.7 36.9 36.8 22

 23 Other Treasury securities 31.4 27.5 33.0 34.2 34.9 36.2 38.8 40.1 41.6 43.3 23

 24 U.S.-chartered depository institutions 71.2 67.6 75.1 77.2 65.5 71.3 74.1 75.6 65.2 60.2 24

 25 Foreign banking offices in U.S. 0.5 0.5 0.6 0.6 0.6 0.5 0.3 0.5 0.4 0.5 25

 26 Banks in U.S.-affiliated areas 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.6 0.6 0.3 26

 27 Credit unions 0.3 0.3 0.3 0.4 0.5 0.6 0.6 0.5 0.8 0.8 27

 28 Property-casualty insurance companies 5.5 5.0 4.3 3.9 3.4 3.4 3.2 2.9 2.8 2.9 28

 29 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Other Treasury securities 5.5 5.0 4.3 3.9 3.4 3.4 3.2 2.9 2.8 2.9 30

 31 Life insurance companies 5.1 4.9 4.7 4.5 4.1 4.0 3.8 3.8 3.4 3.4 31

 32 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Other Treasury securities 5.1 4.9 4.7 4.5 4.1 4.0 3.8 3.8 3.4 3.4 33

 34 Private pension funds 2.5 2.3 2.0 2.4 2.2 2.1 2.1 3.4 5.4 8.6 34

 35 Defined benefit plans 1.9 1.7 1.5 1.8 1.6 1.6 1.6 2.5 4.0 6.4 35

 36 Defined contribution plans 0.6 0.6 0.5 0.6 0.5 0.5 0.5 0.8 1.3 2.1 36

 37 Federal government retirement funds 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 37

 38 Defined benefit plans 19.7 21.0 22.3 23.6 25.1 27.5 30.4 33.4 35.5 38.2 38

 39 Defined contribution plans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 State and local govt. retirement funds 7.2 7.1 6.2 5.9 5.4 5.1 3.9 3.6 2.5 1.6 40

 41 Defined benefit plans 7.2 7.1 6.2 5.9 5.4 5.1 3.9 3.6 2.5 1.6 41

 42 Defined contribution plans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 42

 43 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 43

 44 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Other Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 45

 46 Mutual funds 0.8 1.4 0.9 1.1 0.7 0.9 0.6 0.7 0.7 1.1 46

 47 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 Other Treasury securities 0.8 1.4 0.9 1.1 0.7 0.9 0.6 0.7 0.7 1.1 48

 49 Closed-end funds 0.5 0.5 0.5 0.6 0.6 0.5 0.6 0.7 0.8 0.7 49

 50 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

 51 Government-sponsored enterprises 1.8 2.7 2.7 2.6 2.0 3.1 2.5 1.2 1.1 1.4 51

 52 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

 53 Brokers and dealers 1.1 1.7 1.0 1.8 1.7 3.4 1.8 2.0 2.0 2.3 53

 54 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Rest of the world 13.1 11.2 13.2 12.6 10.2 19.7 46.3 54.5 54.3 58.3 55

 56 Treasury bills 0.0 0.0 0.0 0.0 0.0 0.0 33.0 31.8 31.9 35.2 56

 57 Other Treasury securities 13.1 11.2 13.2 12.6 10.2 19.7 13.3 22.6 22.4 23.1 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.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 111

L.211 Agency- and GSE-Backed Securities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 17.4 24.2 28.5 35.4 42.9 51.7 56.6 65.9 86.2 106.1 1

 2 Budget agencies 2.7 4.0 8.2 11.3 9.0 8.1 7.0 7.9 8.4 8.2 2

 3 Government-sponsored enterprises 13.8 18.9 18.4 21.6 30.6 38.9 40.0 43.5 59.8 76.4 3

 4 Agency- and GSE-backed mortgage pools 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 4

 5 Total assets 17.4 24.2 28.5 35.4 42.9 51.7 56.6 65.9 86.2 106.1 5

 6 Household sector 1.1 5.9 6.3 6.1 11.3 15.9 14.6 8.9 8.3 13.7 6

 7 Nonfinancial corporate business 1.2 1.0 1.0 1.4 1.7 1.2 0.9 1.0 2.0 3.0 7

 8 Federal government 0.0 1.4 1.3 1.4 0.1 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments 3.1 2.4 2.8 6.2 7.5 5.2 3.0 6.3 13.0 16.0 9

 10 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.5 1.3 1.9 4.7 10

 11 U.S.-chartered depository institutions 8.7 9.1 12.3 13.9 14.7 20.8 28.6 35.8 45.4 50.2 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.5 0.6 12

 13 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Credit unions 0.0 0.1 0.2 0.4 0.5 0.8 1.0 1.6 1.8 2.1 14

 15 Property-casualty insurance companies 0.6 1.3 1.2 1.4 1.6 1.6 1.9 2.3 2.3 2.7 15

 16 Life insurance companies 0.2 0.2 0.2 0.3 0.4 0.5 0.6 0.7 0.9 1.1 16

 17 Private pension funds 0.5 0.4 0.3 0.4 0.6 0.9 0.6 2.1 3.2 4.3 17

 18 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 State and local govt. retirement funds 0.5 0.7 0.8 1.4 1.6 1.5 1.5 2.1 3.3 4.6 19

 20 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Government-sponsored enterprises 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.4 22

 23 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Rest of the world 1.3 1.7 2.0 2.4 2.7 3.0 3.1 3.2 3.2 2.8 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total debt of the federal government, which is shown on table L.106, line 20.
L

e

v

els

112 Historical Annuals, 1965-1974, March 10, 2016

L.212 Municipal Securities

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 100.4 106.6 113.8 122.1 133.5 145.5 161.7 175.8 192.7 208.0 1

 2 State and local governments 100.4 106.6 113.8 122.1 133.5 145.5 161.6 175.2 189.9 202.6 2

 3 Short-term (1) 5.5 6.2 8.0 8.1 10.9 13.3 15.7 15.8 16.1 18.8 3

 4 Long-term 94.9 100.5 105.8 114.0 122.6 132.2 145.8 159.4 173.8 183.8 4

 5 Nonprofit organizations (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 1.3 5

 6 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 2.4 4.1 6

 (industrial revenue bonds)

 7 Total assets 100.4 106.6 113.8 122.1 133.5 145.5 161.7 175.8 192.7 208.0 7

 8 Household sector 36.5 41.2 38.2 36.5 47.2 47.1 46.0 47.7 55.1 62.2 8

 9 Nonfinancial corporate business 4.6 3.6 3.3 3.8 2.8 2.2 3.2 4.2 4.0 4.7 9

 10 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 State and local governments 2.2 2.1 2.1 2.2 2.2 2.4 2.1 1.8 2.1 2.6 11

 12 U.S.-chartered depository institutions 39.0 41.3 50.2 58.8 59.5 70.0 83.0 90.6 96.2 101.8 12

 13 Foreign banking offices in U.S. 0.1 0.1 0.2 0.2 0.2 0.4 0.2 0.1 0.2 0.2 13

 14 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.4 0.6 14

 15 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Property-casualty insurance companies 11.3 12.0 13.5 14.4 15.5 17.0 20.5 24.8 28.5 30.7 16

 17 Life insurance companies 3.5 3.3 3.1 3.2 3.2 3.3 3.4 3.4 3.4 3.7 17

 18 Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 State and local govt. retirement funds 2.6 2.5 2.4 2.4 2.3 2.0 2.2 2.0 1.7 1.0 19

 20 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Closed-end funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Brokers and dealers 0.5 0.5 0.5 0.5 0.4 0.9 1.0 0.9 1.1 0.7 25

 26 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.101 and L.101).
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 113

L.213 Corporate and Foreign Bonds

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 123.1 135.7 152.5 167.1 181.1 204.3 228.8 249.4 264.9 293.9 1

 2 Nonfinancial corporate business 97.3 107.5 122.1 135.0 147.0 166.8 185.6 197.8 206.9 226.6 2

 3 Domestic financial sectors 16.7 18.3 19.3 19.9 20.9 23.5 28.2 35.6 41.0 47.9 3

 4 U.S.-chartered depository institutions 1.6 1.7 2.0 2.2 2.0 2.1 3.0 4.1 4.1 4.3 4

 5 ABS issuers (net) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Finance companies 15.1 16.6 17.3 17.7 18.8 19.6 22.0 26.0 29.9 35.5 6

 7 REITs 0.0 0.0 0.0 0.0 0.1 0.6 1.0 1.4 1.9 2.1 7

 8 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Holding companies 0.0 0.0 0.0 0.0 0.0 1.1 2.2 4.2 5.1 6.1 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world (2) 9.1 9.9 11.1 12.2 13.2 14.1 15.0 16.0 17.0 19.4 11

 12 Total assets (3) 123.1 135.7 152.5 167.1 181.1 204.3 228.8 249.4 264.9 293.9 12

 13 Household sector 9.0 11.1 15.1 18.0 22.0 29.7 37.4 38.5 41.5 54.4 13

 14 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 U.S.-chartered depository institutions 4.0 4.3 7.1 8.8 8.8 12.3 18.4 22.3 19.6 20.4 16

 17 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Other 4.0 4.3 7.1 8.8 8.8 12.3 18.4 22.3 19.6 20.4 18

 19 Foreign banking offices in U.S. 0.1 0.2 0.3 0.3 0.3 0.6 0.3 0.3 0.3 0.3 19

 20 Banks in U.S.-affiliated areas 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 20

 21 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

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

 24 Property-casualty insurance companies 3.0 3.6 4.3 5.5 6.3 8.6 8.9 8.1 8.0 10.0 24

 25 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Other 3.0 3.6 4.3 5.5 6.3 8.6 8.9 8.1 8.0 10.0 26

 27 Life insurance companies 61.0 63.4 67.2 70.9 72.7 74.1 79.6 86.6 92.5 96.4 27

 28 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Other 61.0 63.4 67.2 70.9 72.7 74.1 79.6 86.6 92.5 96.4 29

 30 Private pension funds 22.7 25.2 26.4 27.0 27.6 29.4 28.6 30.6 32.7 35.0 30

 31 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 State and local govt. retirement funds 17.2 20.2 23.9 26.6 30.6 35.1 39.0 43.2 48.4 54.5 32

 33 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Mutual funds 2.6 2.9 2.6 2.0 2.9 3.5 3.7 4.2 4.3 4.9 34

 35 Closed-end funds 1.5 1.5 1.7 2.0 2.0 1.4 1.8 2.0 2.5 2.3 35

 36 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Other 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Brokers and dealers 0.9 1.0 1.4 1.2 1.6 1.7 1.8 2.0 2.4 1.8 42

 43 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

 44 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Rest of the world (4) 1.0 2.2 2.5 4.9 6.4 7.9 9.4 11.4 12.7 13.7 45

 46 MBS and other ABS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Other 1.0 2.2 2.5 4.9 6.4 7.9 9.4 11.4 12.7 13.7 47

(1) Liabilities net of assets.

(2) Holdings of foreign issues by U.S. residents.

(3) For some sectors, holdings of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately issued asset-backed bonds.

(4) Holdings of U.S. issues by foreign residents.
L

e

v

els

114 Historical Annuals, 1965-1974, March 10, 2016

L.214 Loans (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 By instrument

 1 Total loans 611.3 660.0 713.4 773.9 840.7 890.8 972.4 1104.7 1266.1 1404.8 1

 2 Depository institution loans n.e.c. 107.7 119.2 135.3 142.0 155.4 163.9 175.3 206.0 247.2 286.0 2

 3 Other loans and advances 71.5 78.9 87.5 101.2 116.1 123.9 130.1 140.1 159.3 188.5 3

 4 Mortgages 334.5 358.5 382.1 411.4 439.9 469.4 517.9 589.8 666.5 728.4 4

 5 Home 219.4 232.7 246.0 262.9 278.7 292.2 318.4 357.4 399.8 435.2 5

 6 Multifamily residential 38.2 41.3 44.8 48.3 53.2 60.1 70.1 82.9 93.2 100.0 6

 7 Commercial 55.7 61.5 66.2 73.0 79.1 86.5 97.0 114.2 133.7 148.3 7

 8 Farm 21.2 23.1 25.0 27.2 29.0 30.5 32.4 35.4 39.8 44.9 8

 9 Consumer credit 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 9

 By sector

 10 Total liabilities 611.3 660.0 713.4 773.9 840.7 890.8 972.4 1104.7 1266.1 1404.8 10

 11 Domestic nonfinancial sectors 556.2 602.7 653.3 705.7 768.0 811.5 889.4 1007.1 1152.3 1273.3 11

 12 Household sector 345.9 368.4 402.3 426.7 453.3 467.2 511.3 571.3 636.3 689.4 12

 13 Nonfinancial corporate business 110.1 123.8 130.1 146.8 166.5 189.5 200.3 226.5 279.7 309.9 13

 14 Nonfinancial noncorporate business 95.6 105.3 115.6 126.6 141.9 148.6 171.2 202.6 230.1 267.2 14

 15 Federal government 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3 1.3 1.2 15

 16 State and local governments 2.8 3.4 3.6 4.0 4.7 4.8 5.2 5.5 4.9 5.6 16

 17 Domestic financial sectors 26.8 27.7 27.9 34.3 36.7 41.3 41.5 52.5 63.4 69.8 17

 18 U.S.-chartered depository institutions 6.0 6.9 4.4 5.3 9.3 10.6 7.9 8.0 15.1 21.8 18

 19 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Government-sponsored enterprises 0.3 0.1 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.7 22

 23 Finance companies 11.7 11.1 10.7 11.8 12.8 15.0 15.9 20.9 24.4 22.2 23

 24 REITs 0.0 0.0 0.0 0.8 1.4 1.6 2.3 4.1 7.8 11.2 24

 25 Brokers and dealers 8.7 9.6 12.7 16.2 13.2 14.2 15.3 19.5 16.1 13.2 25

 26 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 26

 27 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Rest of the world 28.3 29.7 32.2 33.9 36.0 38.0 41.5 45.1 50.4 61.7 28

 29 Total assets 611.3 660.0 713.4 773.9 840.7 890.8 972.4 1104.7 1266.1 1404.8 29

 30 Domestic nonfinancial sectors 99.9 106.4 115.5 125.7 129.1 135.8 140.0 145.0 150.5 165.0 30

 31 Household sector 42.3 44.6 48.8 54.0 51.9 53.7 50.9 51.0 50.8 54.0 31

 32 Nonfinancial corporate business 13.3 13.5 13.8 13.9 14.3 14.9 17.6 18.2 19.5 21.0 32

 33 Nonfinancial noncorporate business 4.0 4.0 3.9 3.9 4.0 4.5 5.6 6.6 6.7 6.5 33

 34 Federal government 37.5 41.4 46.0 50.8 55.3 58.2 60.3 62.1 64.8 72.2 34

 35 State and local governments 2.7 2.9 3.0 3.2 3.7 4.6 5.6 7.0 8.7 11.2 35

 36 Domestic financial sectors 511.4 553.6 598.0 648.2 711.6 755.0 832.4 959.7 1115.5 1239.6 36

 37 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 U.S.-chartered depository institutions 359.5 386.2 420.5 452.1 487.3 510.7 566.2 659.7 767.3 844.8 38

 39 Foreign banking offices in U.S. 2.7 3.2 3.4 3.9 5.3 8.1 8.7 11.4 15.3 23.4 39

 40 Banks in U.S.-affiliated areas 0.4 0.4 0.5 0.5 0.7 0.8 0.9 0.9 1.0 1.5 40

 41 Credit unions 7.9 8.9 9.7 11.0 12.8 13.8 15.6 18.0 21.1 23.4 41

 42 Property-casualty insurance companies 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 42

 43 Life insurance companies 67.7 73.7 77.6 81.3 85.9 90.4 92.6 95.0 101.6 109.1 43

 44 Private pension funds 3.4 3.9 4.1 4.1 4.2 4.2 3.7 2.7 2.4 2.4 44

 45 State and local govt. retirement funds 3.7 4.5 5.0 5.4 5.6 5.9 6.3 6.5 7.1 7.7 45

 46 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Government-sponsored enterprises 16.4 20.5 20.4 23.8 33.0 40.7 42.3 47.1 62.7 82.3 47

 48 Agency- and GSE-backed mortgage pools 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 48

 49 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 Finance companies 42.7 44.9 45.5 50.6 59.2 61.5 67.6 77.5 89.4 94.8 50

 51 REITs 0.0 0.0 0.0 0.8 2.0 3.9 6.2 10.4 16.0 16.1 51

 52 Brokers and dealers 6.0 6.0 9.2 12.0 8.5 7.2 9.8 13.5 9.1 7.6 52

 53 Holding companies 0.0 0.0 0.0 0.0 3.9 3.0 2.8 2.6 4.3 4.9 53

 54 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

 55 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 55

(1) Sum of depository institution loans not elsewhere classified, other loans and advances, total mortgages, and consumer credit.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 115

L.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 107.7 119.2 135.3 142.0 155.4 163.9 175.3 206.0 247.2 286.0 1

 2 Household sector 4.7 5.4 13.4 6.8 7.6 7.5 8.1 8.6 11.9 16.7 2

 3 Corporate business 61.1 69.7 76.3 86.1 95.7 101.7 106.2 119.2 134.1 156.1 3

 4 Noncorporate business 14.0 16.3 17.7 19.1 21.9 22.3 24.5 27.2 44.9 53.2 4

 5 Domestic financial sectors 20.8 20.7 21.3 23.7 24.3 26.6 29.3 40.6 43.2 42.3 5

 6 Finance companies 11.7 11.1 10.7 11.8 12.8 15.0 15.9 20.9 24.4 22.2 6

 7 REITs 0.0 0.0 0.0 0.6 1.0 1.0 1.6 3.0 6.3 9.6 7

 8 Brokers and dealers 9.0 9.6 10.6 11.3 10.5 10.6 11.7 16.8 12.5 9.7 8

 9 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.8 9

 10 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world 7.1 7.1 6.7 6.3 6.0 5.8 7.3 10.4 13.1 17.8 11

 12 Foreign official institutions 1.1 1.0 1.0 0.8 0.8 0.6 0.8 1.0 1.4 1.7 12

 13 Foreign banks 2.1 2.2 1.8 1.9 2.1 2.0 2.4 3.5 5.1 8.2 13

 14 Other foreign 3.9 3.8 3.9 3.6 3.2 3.2 4.1 5.9 6.5 7.8 14

 15 Total assets 107.7 119.2 135.3 142.0 155.4 163.9 175.3 206.0 247.2 286.0 15

 16 Monetary authority (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 U.S.-chartered depository institutions 105.7 116.7 132.7 139.1 151.2 157.2 168.1 196.1 233.8 266.4 17

 18 Foreign banking offices in U.S. 2.0 2.4 2.6 3.0 4.2 6.7 7.2 10.0 13.4 19.6 18

 19 Banks in U.S.-affiliated areas 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, and consumer credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to the household, rest of the world, broker and dealer, and funding corporation sectors. See loan details on table L.109.
L

e

v

els

116 Historical Annuals, 1965-1974, March 10, 2016

L.216 Other Loans and Advances

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total other loans and advances 71.5 78.9 87.5 101.2 116.1 123.9 130.1 140.1 159.3 188.5 1

 2 U.S. government loans 31.0 33.8 37.4 40.8 44.2 46.7 49.2 51.7 54.9 58.5 2

 3 Liab.: Household sector 1.6 2.1 2.4 3.2 3.6 3.9 4.2 4.6 5.0 5.5 3

 4 Nonfinancial corporate business 1.7 2.1 2.3 1.7 1.8 2.1 1.7 1.9 2.2 3.7 4

 5 Nonfinancial noncorporate business 5.9 6.1 6.6 6.9 7.2 7.7 8.1 8.2 9.7 10.3 5

 6 State and local governments 2.8 3.4 3.6 4.0 4.7 4.8 5.2 5.5 4.9 5.6 6

 7 Government-sponsored enterprises 0.3 0.1 0.0 0.3 0.0 0.0 0.0 0.0 0.0 0.7 7

 8 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 18.7 20.1 22.5 24.7 26.8 28.2 30.0 31.4 33.1 32.7 10

 11 Foreign loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 11

 12 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 2.7 2.9 3.5 3.5 4.4 5.6 6.3 5.5 7.1 14.8 13

 14 Foreign banking offices in U.S. 0.7 0.7 0.9 0.9 1.1 1.4 1.6 1.4 1.8 3.7 14

 15 Liab.: Nonfinancial corporate business 0.9 1.1 1.3 1.6 2.3 3.1 3.6 3.7 4.7 7.2 15

 16 Rest of the world 2.5 2.5 3.0 2.9 3.2 4.0 4.3 3.2 4.2 11.2 16

 17 Holding company loans 0.0 0.0 0.0 0.0 3.9 3.0 2.8 2.6 4.3 4.9 17

 18 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 3.9 3.0 2.8 2.6 4.3 4.9 18

 19 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Policy loans (Household liability) 8.3 9.8 10.8 12.1 14.7 17.0 18.0 19.0 21.2 23.9 20

 21 Asset: Federal government 0.7 0.7 0.8 0.8 0.9 1.0 1.0 1.0 1.0 1.0 21

 22 Life insurance companies 7.7 9.1 10.1 11.3 13.8 16.1 17.1 18.0 20.2 22.9 22

 23 Federal Home Loan Banks advances (1) 6.0 6.9 4.4 5.3 9.3 10.6 7.9 8.0 15.1 21.8 23

 24 Liab.: U.S.-chartered depository institutions 6.0 6.9 4.4 5.3 9.3 10.6 7.9 8.0 15.1 21.8 24

 25 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Real estate investment trusts 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Government-sponsored enterprise (GSE) loans (2) 3.6 4.2 4.9 5.2 6.0 7.0 7.7 8.4 9.8 12.4 30

 31 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Nonfinancial corporate business (FCS) 0.1 0.1 0.2 0.2 0.2 0.3 0.3 0.3 0.4 0.5 32

 33 Nonfinancial noncorporate business (FCS) 3.5 4.1 4.8 5.1 5.8 6.8 7.4 8.1 9.4 11.9 33

 34 U.S.-chartered depository inst. (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 Securitized loans held by ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35

 36 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

 37 Finance company loans to business 13.5 14.6 14.3 16.5 21.5 21.8 23.2 27.4 32.3 37.2 37

 38 Liab.: Nonfinancial corporate business 12.2 13.1 12.8 14.8 19.3 19.6 20.8 24.6 29.1 33.4 38

 39 Nonfinancial noncorporate business 1.4 1.5 1.4 1.6 2.1 2.2 2.3 2.7 3.2 3.7 39

 40 Margin accounts at brokers and dealers 6.0 6.0 9.2 12.0 8.5 7.2 9.8 13.5 9.1 7.6 40

 41 Liab.: Household sector 6.0 6.0 9.2 12.0 8.5 7.2 9.8 13.5 9.1 7.6 41

 42 Cash accounts at brokers and dealers -0.3 -0.1 2.2 4.9 2.7 3.6 3.6 2.7 3.6 3.4 42

 43 Asset: Household sector -0.3 -0.1 2.2 4.9 2.7 3.6 3.6 2.7 3.6 3.4 43

 44 Loans to nonfinancial corporate business (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

 45 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

 50 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

(1) The Federal Home Loan Banks are included in the governmnet-sponsored enterprises sector. Finance companies and real estate investment trusts receive advances through

 affiliated captive insurance companies.

(2) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4. Federal Home Loan Bank advances are shown separately on line 23.

(3) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 117

L.217 Total Mortgages (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total mortgages 334.5 358.5 382.1 411.4 439.9 469.4 517.9 589.8 666.5 728.4 1

 2 Home 219.4 232.7 246.0 262.9 278.7 292.2 318.4 357.4 399.8 435.2 2

 3 Multifamily residential 38.2 41.3 44.8 48.3 53.2 60.1 70.1 82.9 93.2 100.0 3

 4 Commercial 55.7 61.5 66.2 73.0 79.1 86.5 97.0 114.2 133.7 148.3 4

 5 Farm 21.2 23.1 25.0 27.2 29.0 30.5 32.4 35.4 39.8 44.9 5

 6 Total liabilities 334.5 358.5 382.1 411.4 439.9 469.4 517.9 589.8 666.5 728.4 6

 7 Household sector 227.7 241.7 257.9 273.2 289.7 297.9 321.9 356.8 396.1 433.8 7

 8 Nonfinancial business 105.0 115.1 122.4 136.3 148.2 169.4 193.8 230.5 267.7 291.9 8

 9 Corporate 34.1 37.7 37.2 42.4 43.3 59.8 64.9 74.2 104.8 103.7 9

 10 Noncorporate 70.9 77.4 85.2 93.9 104.9 109.6 128.9 156.3 162.9 188.1 10

 11 Federal government 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3 1.3 1.2 11

 12 REITs 0.0 0.0 0.0 0.2 0.4 0.5 0.7 1.2 1.5 1.6 12

 13 Total assets 334.5 358.5 382.1 411.4 439.9 469.4 517.9 589.8 666.5 728.4 13

 14 Household sector 42.6 44.6 46.6 49.1 49.2 50.1 47.3 48.3 47.2 50.6 14

 15 Nonfinancial corporate business 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 15

 16 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.3 0.7 1.9 3.0 3.3 3.4 16

 17 Federal government 5.9 6.9 7.8 9.3 10.2 10.5 10.2 9.5 8.9 12.6 17

 18 State and local governments 2.7 2.9 3.0 3.2 3.7 4.6 5.6 7.0 8.7 11.2 18

 19 U.S.-chartered depository institutions 202.0 214.4 228.4 246.8 263.9 277.7 312.8 365.9 418.3 451.5 19

 20 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 20

 21 Banks in U.S.-affiliated areas 0.4 0.4 0.5 0.5 0.7 0.8 0.9 0.9 1.0 1.5 21

 22 Credit unions 1.4 1.4 1.4 1.3 1.1 0.8 0.8 1.0 1.4 1.5 22

 23 Property-casualty insurance companies 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 23

 24 Life insurance companies 60.0 64.6 67.5 70.0 72.0 74.4 75.5 76.9 81.4 86.2 24

 25 Private pension funds 3.4 3.9 4.1 4.1 4.2 4.2 3.7 2.7 2.4 2.4 25

 26 State and local govt. retirement funds 3.7 4.5 5.0 5.4 5.6 5.9 6.3 6.5 7.1 7.7 26

 27 Government-sponsored enterprises (1) 6.8 9.4 11.1 13.3 17.7 23.0 26.7 30.7 37.8 48.1 27

 28 Agency- and GSE-backed mortgage pools 0.9 1.3 2.0 2.5 3.2 4.8 9.5 14.4 18.0 21.5 28

 29 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Finance companies 4.5 3.9 4.3 4.9 5.7 7.5 10.0 12.2 14.5 13.1 30

 31 REITs 0.0 0.0 0.0 0.8 2.0 3.9 6.2 10.4 16.0 16.1 31

(1) Sum of home mortgages, multifamily residential mortgages, commercial mortgages, and farm mortgages.
L

e

v

els

118 Historical Annuals, 1965-1974, March 10, 2016

L.218 Home Mortgages (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 219.4 232.7 246.0 262.9 278.7 292.2 318.4 357.4 399.8 435.2 1

 2 Household sector 219.4 232.7 246.0 262.9 278.7 286.0 309.5 343.6 382.2 419.3 2

 3 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 1.2 1.8 2.8 3.5 3.2 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 5.0 7.2 11.1 14.1 12.7 4

 5 Total assets 219.4 232.7 246.0 262.9 278.7 292.2 318.4 357.4 399.8 435.2 5

 6 Household sector 16.7 18.1 19.5 21.6 21.7 21.0 20.7 19.8 19.6 22.6 6

 7 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.9 1.0 0.9 8

 9 Federal government 3.9 4.5 5.3 6.2 6.4 6.2 5.6 5.0 4.2 5.6 9

 10 State and local governments 1.7 1.7 1.7 1.8 1.8 1.9 2.0 2.1 2.6 3.4 10

 11 U.S.-chartered depository institutions 156.0 164.3 173.8 185.8 197.7 205.9 227.5 262.8 298.6 321.0 11

 12 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Banks in U.S.-affiliated areas 0.3 0.3 0.4 0.4 0.4 0.6 0.7 0.7 0.7 0.8 13

 14 Credit unions 1.4 1.4 1.4 1.3 1.1 0.8 0.8 1.0 1.4 1.5 14

 15 Life insurance companies 29.6 30.2 29.8 29.0 27.6 26.7 24.6 22.3 20.4 19.0 15

 16 Private pension funds 1.5 1.7 1.8 1.8 1.8 1.8 1.5 1.1 0.8 0.8 16

 17 State and local govt. retirement funds 2.0 2.3 2.6 2.7 2.8 2.9 3.0 3.0 3.2 3.2 17

 18 Government-sponsored enterprises 2.5 4.4 5.5 7.2 10.9 15.5 17.6 19.5 22.8 28.4 18

 19 Agency- and GSE-backed mortgage pools 0.1 0.3 0.7 1.0 1.4 2.5 6.7 10.7 13.6 18.0 19

 20 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Finance companies 3.8 3.3 3.7 4.2 4.9 5.8 6.5 7.4 8.9 8.0 21

 22 REITs 0.0 0.0 0.0 0.0 0.2 0.6 0.8 1.2 1.9 1.7 22

 Memo:

 23 Home equity loans included above (2) ND ND ND ND ND ND ND ND ND ND 23

 24 U.S.-chartered depository institutions ND ND ND ND ND ND ND ND ND ND 24

 25 Foreign banking offices in U.S. ND ND ND ND ND ND ND ND ND ND 25

 26 Credit unions ND ND ND ND ND ND ND ND ND ND 26

 27 ABS issuers ND ND ND ND ND ND ND ND ND ND 27

 28 Finance companies ND ND ND ND ND 0.4 0.8 1.1 1.5 1.8 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

Billions of dollars

 1 Total liabilities 38.2 41.3 44.8 48.3 53.2 60.1 70.1 82.9 93.2 100.0 1

 2 Nonfinancial corporate business 1.8 2.0 2.2 2.3 2.6 2.9 3.4 4.1 4.6 4.9 2

 3 Nonfinancial noncorporate business 34.6 37.5 40.9 44.2 48.9 55.5 65.0 77.1 86.9 93.4 3

 4 Federal government 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3 1.3 1.2 4

 5 REITs 0.0 0.0 0.0 0.1 0.1 0.2 0.2 0.4 0.5 0.5 5

 6 Total assets 38.2 41.3 44.8 48.3 53.2 60.1 70.1 82.9 93.2 100.0 6

 7 Household sector 8.5 8.4 8.4 8.3 7.9 7.9 6.5 6.8 5.8 5.7 7

 8 Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.6 0.6 0.6 9

 10 Federal government 1.0 1.3 1.6 1.9 2.6 3.1 3.5 3.8 4.1 4.8 10

 11 State and local governments 0.8 0.9 1.0 1.2 1.6 2.2 2.9 3.9 4.8 6.1 11

 12 U.S.-chartered depository institutions 16.4 17.3 18.8 20.5 22.5 24.9 31.2 37.7 42.1 44.4 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Life insurance companies 8.8 10.3 11.7 12.8 14.2 16.0 16.7 17.3 18.5 19.6 14

 15 Private pension funds 1.0 1.1 1.2 1.2 1.2 1.2 0.9 0.6 0.5 0.5 15

 16 State and local govt. retirement funds 1.2 1.5 1.6 1.8 1.9 2.0 2.2 2.2 2.1 2.2 16

 17 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.3 1.1 2.1 4.0 6.2 17

 18 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.4 0.6 0.8 18

 19 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Finance companies 0.5 0.4 0.5 0.6 0.7 1.2 2.4 3.3 3.7 2.5 20

 21 REITs 0.0 0.0 0.0 0.1 0.5 1.3 2.2 4.2 6.6 6.8 21
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 119

L.220 Commercial Mortgages

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 55.7 61.5 66.2 73.0 79.1 86.5 97.0 114.2 133.7 148.3 1

 2 Household sector 8.3 9.0 12.0 10.3 11.0 11.9 12.5 13.2 13.9 14.5 2

 3 Nonfinancial corporate business 31.4 34.7 33.9 38.8 39.3 54.1 58.1 65.5 94.6 93.1 3

 4 Nonfinancial noncorporate business 16.0 17.8 20.4 23.8 28.5 20.2 26.0 34.7 24.3 39.6 4

 5 REITs 0.0 0.0 0.0 0.1 0.3 0.4 0.5 0.8 1.0 1.1 5

 6 Total assets 55.7 61.5 66.2 73.0 79.1 86.5 97.0 114.2 133.7 148.3 6

 7 Household sector 10.1 10.5 10.4 9.9 9.8 10.8 8.6 9.3 8.3 7.2 7

 8 Nonfinancial corporate business 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 8

 9 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.3 0.7 1.1 1.5 1.7 1.9 9

 10 Federal government 0.1 0.1 0.2 0.3 0.4 0.4 0.5 0.3 0.2 1.6 10

 11 State and local governments 0.0 0.0 0.0 0.0 0.0 0.2 0.4 0.7 0.9 1.2 11

 12 U.S.-chartered depository institutions 26.7 29.7 32.6 37.0 39.8 42.5 50.0 60.6 72.2 80.1 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 13

 14 Banks in U.S.-affiliated areas 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 14

 15 Property-casualty insurance companies 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 15

 16 Life insurance companies 16.8 18.8 20.5 22.4 24.4 26.0 28.5 31.6 36.5 41.3 16

 17 Private pension funds 0.9 1.1 1.1 1.1 1.2 1.2 1.3 1.1 1.1 1.1 17

 18 State and local govt. retirement funds 0.5 0.6 0.6 0.7 0.7 0.9 0.9 1.1 1.5 2.0 18

 19 Agency- and GSE-backed mortgage pools 0.1 0.2 0.3 0.4 0.4 0.5 0.6 0.9 1.1 0.0 19

 20 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Finance companies 0.1 0.1 0.1 0.2 0.2 0.5 1.1 1.5 1.9 2.6 21

 22 REITs 0.0 0.0 0.0 0.7 1.3 2.0 3.2 5.0 7.5 7.7 22

L.221 Farm Mortgages (1)

Billions of dollars

 1 Total liabilities 21.2 23.1 25.0 27.2 29.0 30.5 32.4 35.4 39.8 44.9 1

 2 Nonfinancial corporate business 0.9 1.0 1.1 1.3 1.4 1.5 1.7 1.9 2.1 2.5 2

 3 Nonfinancial noncorporate business 20.3 22.0 23.9 25.9 27.6 29.0 30.7 33.5 37.7 42.4 3

 4 Total assets 21.2 23.1 25.0 27.2 29.0 30.5 32.4 35.4 39.8 44.9 4

 5 Household sector 7.3 7.6 8.3 9.2 9.9 10.3 11.5 12.3 13.6 15.1 5

 6 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Federal government 0.8 0.9 0.8 0.9 0.9 0.8 0.5 0.4 0.4 0.6 7

 8 State and local governments 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.4 0.5 0.5 8

 9 U.S.-chartered depository institutions 2.9 3.1 3.3 3.5 3.8 4.4 4.2 4.8 5.4 6.0 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Life insurance companies 4.8 5.2 5.6 5.8 5.8 5.6 5.6 5.7 6.0 6.3 11

 12 State and local govt. retirement funds 0.1 0.1 0.2 0.2 0.3 0.2 0.2 0.2 0.3 0.2 12

 13 Government-sponsored enterprises 4.3 5.0 5.6 6.1 6.7 7.2 7.9 9.1 10.9 13.5 13

 14 Agency- and GSE-backed mortgage pools 0.7 0.9 1.0 1.1 1.4 1.7 2.1 2.4 2.7 2.6 14

(1) Excludes mortgages on farm houses.
L

e

v

els

120 Historical Annuals, 1965-1974, March 10, 2016

L.222 Consumer Credit

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities (Households) 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 1

 2 Total assets 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 2

 3 Households (nonprofit organizations) (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Nonfinancial corporate business 13.2 13.4 13.7 13.8 14.0 14.7 17.3 18.0 19.2 20.3 4

 5 Nonfinancial noncorporate business 4.0 4.0 3.9 3.9 3.7 3.8 3.7 3.6 3.4 3.1 5

 6 Federal government (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 U.S.-chartered depository institutions 49.1 52.2 55.8 62.7 67.8 70.1 79.0 92.1 108.1 112.1 7

 8 Credit unions 6.5 7.5 8.3 9.7 11.7 13.0 14.8 17.0 19.6 21.9 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Finance companies 24.7 26.4 26.9 29.2 32.0 32.1 34.4 38.0 42.6 44.6 11

 Memo:

 12 Credit card loans (3) 0.0 0.0 0.0 2.1 3.7 5.1 8.5 9.7 11.7 13.7 12

 13 Auto loans 29.4 31.0 31.1 34.3 36.9 36.3 40.5 47.9 53.8 54.3 13

 14 Student loans (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Other consumer credit (5) 68.1 72.4 77.4 82.9 88.6 92.2 100.2 111.2 127.5 134.0 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 121

L.223 Corporate Equities (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Issues at market value 734.9 660.4 835.1 996.1 840.6 831.2 974.9 1203.3 938.3 632.5 1

 2 Domestic sectors 729.9 656.1 829.9 989.6 833.7 824.7 967.2 1192.7 928.3 623.5 2

 3 Nonfinancial corporate business 623.8 547.9 712.2 843.2 705.1 702.2 823.8 1032.7 809.4 557.6 3

 4 Publicly traded (2) 623.8 547.9 712.2 843.2 705.1 702.2 823.8 1032.7 809.4 557.6 4

 5 Closely held 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Financial corporations 106.1 108.2 117.6 146.5 128.6 122.5 143.5 160.1 118.9 65.9 6

 7 Publicly traded (3) 106.1 108.2 117.6 146.5 128.6 122.5 143.5 160.1 118.9 65.9 7

 8 Closely held 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Rest of the world (4) 5.0 4.3 5.2 6.5 7.0 6.6 7.6 10.5 10.0 9.0 9

 10 Holdings at market value 734.9 660.4 835.1 996.1 840.6 831.2 974.9 1203.3 938.3 632.5 10

 11 Household sector 616.1 548.3 682.1 815.3 667.4 650.2 743.7 921.4 693.9 445.0 11

 12 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions 2.3 2.0 2.5 2.4 2.5 2.8 3.5 4.5 4.2 3.7 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 16

 17 Property-casualty insurance companies 12.0 11.0 13.0 14.6 13.3 13.2 16.6 21.8 19.7 12.8 17

 18 Life insurance companies 9.0 8.7 10.7 13.0 13.2 14.6 20.0 26.5 25.4 21.3 18

 19 Private pension funds 40.8 39.5 51.1 61.5 61.4 67.1 88.7 107.8 93.6 74.8 19

 20 Federal government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 State and local govt. retirement funds 2.5 2.8 3.9 5.8 7.3 10.1 15.4 22.2 20.2 16.4 21

 22 Mutual funds 30.9 28.9 39.2 46.1 40.9 39.7 48.6 51.7 38.3 26.3 22

 23 Closed-end funds 5.6 5.3 5.4 6.3 6.0 4.3 5.4 5.7 6.6 5.9 23

 24 Exchange-traded funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Brokers and dealers 1.2 1.3 1.7 1.5 1.9 2.0 2.1 2.4 2.8 2.2 25

 26 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Rest of the world (5) 14.6 12.6 25.5 29.5 26.8 27.2 30.8 39.1 33.5 23.9 27

 Memo:

 28 Publicly traded equity at market value (6) 729.9 656.1 829.9 989.6 833.7 824.7 967.2 1192.7 928.3 623.5 28

 29 Closely held equity at market value (7) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 S corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 C corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Percent change in Dow Jones U.S. Total Market Index (8) ND ND ND ND ND ND 14.3 14.9 -21.0 -31.5 32

(1) Excludes mutual fund shares shown on table L.224.

(2) Excludes intercorporate holdings.

(3) Includes corporate equities issued by financial corporations under the federal financial stabilization programs.

(4) Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(5) Holdings of U.S. issues by foreign residents.

(6) Equal to the sum of lines 4 and 7.

(7) Equal to the sum of lines 5 and 8.

(8) Annual figures calculated from year-end to year-end.

L.224 Mutual Fund Shares (1)

Billions of dollars

 1 Shares at market value 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 1

 2 Holdings at market value 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 2

 3 Household sector 34.4 33.9 43.0 49.5 45.6 44.5 53.0 56.4 43.7 31.8 3

 4 Nonfinancial corporate business 0.3 0.4 0.6 0.8 0.7 0.6 0.7 0.7 0.8 0.8 4

 5 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Life insurance companies 0.1 0.1 0.2 0.2 0.6 0.8 0.6 0.3 0.5 0.6 9

 10 Private pension funds 0.4 0.4 0.5 0.6 0.7 0.8 1.2 1.5 1.7 1.9 10

 11 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
L

e

v

els

122 Historical Annuals, 1965-1974, March 10, 2016

L.225 Trade Credit

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total trade payables 132.6 143.7 153.2 170.7 194.1 204.1 220.7 249.2 306.7 255.2 1

 2 Household sector 3.6 4.0 4.6 5.2 5.8 6.5 7.3 8.2 8.9 10.1 2

 3 Nonfinancial corporate business 94.9 104.1 110.0 126.5 146.0 153.8 167.5 190.7 228.8 165.6 3

 4 Nonfinancial noncorporate business 12.8 11.5 11.5 9.4 10.0 9.3 9.5 10.7 24.0 27.1 4

 5 Federal government 5.0 5.8 6.5 6.5 6.4 5.4 4.2 4.4 5.2 6.2 5

 6 State and local governments 13.3 14.8 16.5 18.4 20.4 22.6 25.0 27.5 30.3 33.6 6

 7 Brokers and dealers 0.4 0.4 0.5 0.5 0.6 0.6 0.7 0.8 0.8 0.9 7

 8 Rest of the world 2.7 3.0 3.7 4.3 4.9 5.9 6.4 7.0 8.7 11.7 8

 9 Total trade receivables 143.4 159.1 171.1 191.9 218.6 227.3 240.4 270.3 317.1 297.1 9

 10 Nonfinancial corporate business 120.9 133.3 141.6 160.1 182.9 191.4 203.8 230.2 269.3 245.5 10

 11 Nonfinancial noncorporate business 7.9 8.5 9.0 7.7 8.1 6.6 8.1 8.8 11.1 13.3 11

 12 Federal government 3.1 4.4 5.8 6.4 7.3 6.6 4.9 4.0 4.3 5.3 12

 13 State and local governments 6.6 7.2 7.8 8.8 10.0 10.6 11.6 13.0 15.8 13.8 13

 14 Property-casualty insurance companies 2.6 2.9 3.2 3.5 3.9 4.4 4.7 5.8 6.5 7.0 14

 15 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 2.2 2.8 3.6 5.4 6.3 7.7 7.4 8.4 10.1 12.1 16

 17 Discrepancy -10.8 -15.4 -17.9 -21.2 -24.5 -23.2 -19.7 -21.0 -10.4 -41.9 17

L.226 Life Insurance Reserves

Billions of dollars

 1 Total liabilities 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 1

 2 Federal government 7.0 7.1 7.2 7.2 7.3 7.4 7.4 7.6 7.8 7.9 2

 3 Life insurance companies 98.9 103.5 108.3 113.1 118.1 123.3 129.6 136.3 143.5 150.5 3

 4 Net change in assets 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 4

 5 Households 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 5

 6 U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 123

L.227 Pension Entitlements

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 397.9 433.6 471.8 520.1 573.5 639.5 714.6 804.2 852.6 930.2 1

 2 Life insurance companies (1) 27.3 29.4 31.9 34.7 37.6 41.0 46.1 52.1 56.1 60.4 2

 3 Private pension funds (2) 105.9 116.2 129.9 145.4 164.2 185.9 205.9 233.8 251.9 274.0 3

 4 Federal government retirement funds (3) 198.1 213.6 230.3 248.3 267.4 300.2 328.4 358.3 389.3 421.0 4

 5 State and local govt. retirement funds 66.5 74.5 79.8 91.6 104.3 112.4 134.2 160.1 155.3 174.8 5

 6 Total assets (Households) (4) 397.9 433.6 471.8 520.1 573.5 639.5 714.6 804.2 852.6 930.2 6

 Memo:

 7 Individual Retirement Accounts (IRAs) at: (5) ND ND ND ND ND ND ND ND ND ND 7

 8 U.S.-chartered depository institutions ND ND ND ND ND ND ND ND ND ND 8

 9 Credit unions ND ND ND ND ND ND ND ND ND ND 9

 10 Life insurance companies ND ND ND ND ND ND ND ND ND ND 10

 11 Money market mutual funds ND ND ND ND ND ND ND ND ND ND 11

 12 Mutual funds ND ND ND ND ND ND ND ND ND ND 12

 13 Other self-directed accounts ND ND ND ND ND ND ND ND ND ND 13

(1) Annuities, including those in IRAs.

(2) Includes unallocated insurance company contracts beginning 1985:Q4.

(3) Includes the Thrift Savings Plan, the National Railroad Retirement Investment Trust, and other federal government retirement funds.

(4) Excludes all individual retirement accounts (IRAs), except those at life insurance companies.

(5) Assets of the household sector (L.101). Figures for depositories (lines 8 and 9) include Keogh accounts. Variable annuities in IRAs are included in the life insurance sector (line 10)

 and excluded from the money market mutual fund and mutual fund sectors (lines 11 and 12).

L.228 Taxes Payable by Businesses

Billions of dollars

 1 Total taxes payable by all businesses 20.1 19.2 14.8 16.0 14.5 12.5 16.6 20.5 25.9 32.8 1

 2 Nonfinancial corporate business 18.3 17.4 13.2 14.3 12.6 10.0 13.1 15.5 19.3 24.5 2

 3 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.5 4.0 5.5 3

 4 U.S.-chartered depository institutions 0.8 0.7 0.6 0.6 0.7 1.1 1.1 0.9 1.0 1.2 4

 5 Property-casualty insurance companies 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.3 5

 6 Life insurance companies 0.5 0.6 0.5 0.6 0.7 0.8 0.8 0.8 0.8 0.8 6

 7 Finance companies 0.3 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.3 7

 8 Brokers and dealers 0.1 0.1 0.2 0.2 0.1 0.2 0.1 0.2 0.2 0.0 8

 9 Total business taxes receivable 7.6 5.4 5.8 6.9 4.4 2.2 6.6 9.0 11.7 14.3 9

 10 Federal government 6.8 4.5 4.8 5.7 3.3 0.9 4.1 4.7 5.8 6.8 10

 11 State and local governments 0.9 0.9 1.0 1.2 1.2 1.3 2.5 4.3 5.9 7.6 11

 12 Discrepancy 12.5 13.8 8.9 9.1 10.1 10.3 9.9 11.5 14.2 18.4 12

L.229 Proprietors’ Equity in Noncorporate Business

Billions of dollars

 1 Total household equity 485.0 518.5 543.2 588.3 623.3 654.6 720.9 802.1 938.1 1051.0 1

 2 Nonfinancial noncorporate business 485.0 518.5 543.2 588.3 623.3 654.6 720.9 802.1 937.2 1049.3 2

 3 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.7 3
L

e

v

els

124 Historical Annuals, 1965-1974, March 10, 2016

L.230 Direct Investment

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 55.4 59.0 65.6 73.7 83.1 94.3 103.9 125.5 126.2 135.3 1

 2 Equity ND ND ND ND ND ND ND ND ND ND 2

 3 Intercompany debt (2) ND ND ND ND ND ND ND ND ND ND 3

 4 U.S. parents’ claims ND ND ND ND ND ND ND ND ND ND 4

 5 Less: U.S. parents’ liabilities ND ND ND ND ND ND ND ND ND ND 5

 6 Asset: Nonfinancial corporate business 53.3 56.7 63.0 70.8 79.8 90.6 99.6 120.5 120.3 128.2 6

 7 U.S.-chartered depository institutions 0.3 0.3 0.4 0.5 0.6 0.8 1.0 1.3 1.6 2.0 7

 8 Property-casualty insurance companies 0.3 0.3 0.4 0.5 0.6 0.8 1.0 1.4 1.8 2.3 8

 9 Life insurance companies 0.3 0.4 0.4 0.4 0.5 0.5 0.6 0.6 0.7 0.7 9

 10 Finance companies 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.8 0.9 0.9 10

 11 Brokers and dealers 0.6 0.7 0.8 0.8 0.8 0.9 0.9 1.0 1.0 1.1 11

 Foreign direct investment in U.S.:

 12 Liab.: Nonfinancial corporate business 6.4 6.9 7.6 8.3 9.6 11.1 11.2 11.9 14.6 19.3 12

 13 Nonfinancial noncorporate business 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.6 13

 14 Foreign banking offices in U.S. 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.6 0.8 14

 15 Property-casualty insurance companies 0.7 0.6 0.7 0.7 0.7 0.7 0.8 0.9 1.0 0.7 15

 16 Life insurance companies 0.6 0.5 0.6 0.6 0.6 0.6 0.7 0.8 0.9 0.6 16

 17 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 17

 18 Brokers and dealers 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.3 0.3 0.5 18

 19 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Asset: Rest of the world (1) 8.5 8.9 9.7 10.5 11.7 13.2 13.6 14.7 17.8 22.6 20

 21 Equity ND ND ND ND ND ND ND ND ND ND 21

 22 Intercompany debt ND ND ND ND ND ND ND ND ND ND 22

 23 U.S. affiliates’ liabilities ND ND ND ND ND ND ND ND ND ND 23

 24 Less: U.S. affiliates’ claims ND ND ND ND ND ND ND ND ND ND 24

 Memo:

 Direct investment, asset/liability presentation:

 25 Direct investment assets ND ND ND ND ND ND ND ND ND ND 25

 26 Equity (line 2) ND ND ND ND ND ND ND ND ND ND 26

 27 Intercompany debt ND ND ND ND ND ND ND ND ND ND 27

 28 U.S. parents’ claims (line 4) ND ND ND ND ND ND ND ND ND ND 28

 29 U.S. affiliates’ claims (line 24) ND ND ND ND ND ND ND ND ND ND 29

 30 Direct investment liabilities ND ND ND ND ND ND ND ND ND ND 30

 31 Equity (line 21) ND ND ND ND ND ND ND ND ND ND 31

 32 Intercompany debt ND ND ND ND ND ND ND ND ND ND 32

 33 U.S. parents’ liabilities (line 5) ND ND ND ND ND ND ND ND ND ND 33

 34 U.S. affiliates’ liabilities (line 23) ND ND ND ND ND ND ND ND ND ND 34

 Alternative valuations of direct investment assets:

 U.S. direct investment abroad:

 35 Market value ND ND ND ND ND ND ND ND ND ND 35

 36 Equity ND ND ND ND ND ND ND ND ND ND 36

 37 Intercompany debt ND ND ND ND ND ND ND ND ND ND 37

 38 Historical cost ND ND ND ND ND ND ND ND ND ND 38

 39 Equity ND ND ND ND ND ND ND ND ND ND 39

 40 Intercompany debt ND ND ND ND ND ND ND ND ND ND 40

 Foreign direct investment in U.S.:

 41 Market value ND ND ND ND ND ND ND ND ND ND 41

 42 Equity ND ND ND ND ND ND ND ND ND ND 42

 43 Intercompany debt ND ND ND ND ND ND ND ND ND ND 43

 44 Historical cost ND ND ND ND ND ND ND ND ND ND 44

 45 Equity ND ND ND ND ND ND ND ND ND ND 45

 46 Intercompany debt ND ND ND ND ND ND ND ND ND ND 46

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 125

L.231 Total Miscellaneous Financial Claims

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 292.4 312.1 335.3 368.5 412.3 450.6 510.4 583.0 638.8 689.8 1

 2 Household sector 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 2

 3 Nonfinancial corporate business 9.1 9.7 13.0 13.1 15.8 4.0 4.2 2.9 4.5 6.7 3

 4 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 8.6 11.5 14.2 17.4 23.0 4

 5 Federal government 179.0 193.4 209.0 225.9 243.2 273.0 298.3 325.2 354.1 384.5 5

 6 State and local governments 32.5 36.3 37.1 43.6 51.1 52.1 65.3 79.5 70.6 87.1 6

 7 Monetary authority 0.8 1.0 1.0 1.4 1.8 2.2 2.1 2.1 3.3 3.2 7

 8 U.S.-chartered depository institutions 14.3 14.1 14.7 19.5 28.6 32.9 40.5 53.5 62.6 55.8 8

 9 Foreign banking offices in U.S. -1.0 -0.9 -0.9 -1.4 -1.5 -3.3 -4.4 0.8 1.3 0.7 9

 10 Banks in U.S.-affiliated areas 0.1 0.1 0.2 0.2 0.1 0.2 0.3 0.5 0.7 0.5 10

 11 Credit unions 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.6 0.7 1.0 11

 12 Property-casualty insurance companies 21.1 22.9 25.0 27.5 30.8 34.2 37.8 42.6 47.4 52.3 12

 13 Life insurance companies 14.6 15.8 17.6 19.1 20.5 22.0 23.8 26.4 28.7 31.6 13

 14 Government-sponsored enterprises 3.9 4.1 4.6 4.4 4.7 6.5 6.0 6.4 8.5 8.9 14

 15 Finance companies 7.6 4.4 2.4 3.2 3.8 3.1 7.9 11.4 15.4 11.3 15

 16 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.4 1.9 16

 17 Brokers and dealers 0.7 0.6 0.6 0.5 0.5 0.4 0.4 1.0 0.8 0.7 17

 18 Holding companies 0.0 0.0 0.0 0.0 0.4 1.6 3.6 2.6 4.7 1.6 18

 19 Funding corporations 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 19

 20 Rest of the world 5.2 5.4 5.4 5.4 5.5 5.8 5.8 5.9 9.4 10.4 20

 21 Total assets 303.0 331.7 354.2 386.8 438.1 497.0 562.5 639.8 737.1 864.5 21

 22 Household sector 18.5 19.9 21.7 23.6 25.8 28.5 31.1 34.0 37.1 40.0 22

 23 Nonfinancial corporate business 11.4 11.6 12.4 13.4 15.1 16.3 24.4 35.6 60.5 114.7 23

 24 Nonfinancial noncorporate business 6.5 7.0 7.7 8.5 9.6 10.7 16.1 22.3 26.7 27.8 24

 25 Federal government 5.4 5.7 5.7 5.4 5.5 5.8 5.8 5.9 6.9 6.9 25

 26 State and local governments 0.3 0.5 0.5 0.4 0.3 0.2 0.3 0.2 0.2 0.1 26

 27 Monetary authority 0.5 0.7 0.7 0.9 0.8 0.9 1.1 1.1 1.4 3.2 27

 28 U.S.-chartered depository institutions 9.1 9.1 11.4 12.4 10.2 11.0 15.7 18.4 22.9 15.6 28

 29 Foreign banking offices in U.S. 0.6 0.8 0.2 0.7 -0.0 -1.4 -0.8 0.5 0.6 -0.0 29

 30 Banks in U.S.-affiliated areas 0.6 0.7 0.8 1.0 1.8 2.1 2.1 2.1 2.2 2.0 30

 31 Credit unions -0.2 -0.2 -0.3 -0.3 -0.3 -0.4 -0.4 -0.5 -0.6 -0.6 31

 32 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

 33 Life insurance companies 5.4 5.6 6.5 7.0 7.9 8.6 9.5 10.5 11.3 12.6 33

 34 Private pension funds 30.6 38.8 38.9 41.9 58.9 71.6 69.8 69.6 92.5 120.2 34

 35 Federal government retirement funds 178.4 192.6 208.0 224.7 242.3 272.7 298.0 324.9 353.8 382.8 35

 36 State and local govt. retirement funds 32.5 36.3 37.1 43.6 51.1 52.1 65.3 79.5 70.6 87.1 36

 37 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 37

 38 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Government-sponsored enterprises 0.4 0.4 0.4 0.4 0.8 1.5 1.7 1.4 2.3 0.5 39

 40 ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Finance companies 3.7 3.0 3.4 4.0 4.7 5.8 7.6 8.9 10.3 8.1 41

 42 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.3 0.7 0.3 42

 43 Brokers and dealers -0.6 -0.7 -0.8 -0.8 -0.8 -0.9 -0.9 -1.0 -1.0 -1.1 43

 44 Holding companies 0.0 0.0 0.0 0.0 4.7 11.8 16.1 25.0 38.7 44.4 44

 45 Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

 46 Discrepancy -10.5 -19.5 -18.9 -18.3 -25.8 -46.4 -52.1 -56.8 -98.3 -174.7 46
L

e

v

els

126 Historical Annuals, 1965-1974, March 10, 2016

L.232 Identified Miscellaneous Financial Claims - Part I

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 1.3 1.2 1.4 1.5 1.7 1.9 2.2 2.4 2.8 3.4 1

 2 Asset: Federal government 1.3 1.2 1.4 1.5 1.7 1.9 2.2 2.4 2.8 3.4 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.9 3

 4 Asset: U.S.-chartered depository institutions 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.9 4

 Equity in government-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 2.0 2.3 2.4 2.2 2.4 2.4 2.5 2.7 3.3 4.0 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.1 0.1 0.2 0.2 0.3 0.0 0.0 0.0 0.1 0.1 6

 7 Nonfinancial noncorporate (FCS) 0.4 0.5 0.5 0.6 0.7 0.8 0.8 0.9 1.1 1.3 7

 8 Federal government 0.2 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 1.3 1.4 1.4 1.4 1.5 1.6 1.6 1.8 2.1 2.6 9

 10 Credit unions (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Property-casualty insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Life insurance companies (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Real estate investment trusts (FHLB) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 Holding company net transactions with subsidiaries:

 15 Liab.: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 4.0 10.0 15.0 21.0 22.5 28.5 15

 16 Property-casualty insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.6 3.0 3.6 3.3 18

 19 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3.3 5.3 19

 20 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.5 3.5 20

 21 Asset: Holding companies 0.0 0.0 0.0 0.0 4.0 10.0 15.6 24.0 31.8 40.5 21

 NFC investment in finance company subsidiaries:

 22 Liab.: Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Asset: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 Funding corporations’ investment in subsidiaries:

 24 Liab.: Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Asset: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 Equity investment under Public-Private Inv. Program:

 27 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Asset: Households (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
L

e

v

els

Historical Annuals, 1965-1974, March 10, 2016 127

L.233 Identified Miscellaneous Financial Claims - Part II

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 3.9 4.2 4.0 3.9 3.8 3.8 3.7 3.5 4.1 3.6 1

 2 Asset: Federal government 3.9 4.2 4.0 3.9 3.8 3.8 3.7 3.5 4.1 3.6 2

 3 Monetary authority (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 1.0 1.0 1.4 1.4 1.0 2.3 1.8 1.5 1.7 2.4 6

 7 Asset: U.S.-chartered depository institutions 1.0 1.0 1.4 1.4 1.0 2.3 1.8 1.5 1.7 2.4 7

 Funding agreements backing securities (2):

 8 Liab.: Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Asset: ABS issuers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 Deferred and unpaid life insurance premiums:

 10 Liab.: Household sector 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 10

 11 Asset: Life insurance companies 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 11

 Life insurance company reserves:

 12 Liab.: Life insurance companies 10.0 10.8 11.9 12.9 14.0 15.3 16.6 18.1 19.8 21.5 12

 13 Accident and health 1.4 1.7 2.1 2.5 2.9 3.5 3.9 4.3 4.9 5.6 13

 14 Policy dividend accumulation 7.0 7.5 7.9 8.5 9.0 9.6 10.3 11.1 11.9 12.7 14

 15 Contract claims 1.6 1.7 1.8 1.9 2.1 2.2 2.5 2.7 3.0 3.2 15

 16 Asset: Household sector 10.0 10.8 11.9 12.9 14.0 15.3 16.6 18.1 19.8 21.5 16

 Policy payables:

 17 Liab.: Property-casualty insurance companies 21.1 22.9 25.0 27.5 30.8 34.2 37.8 42.6 47.4 52.3 17

 18 Asset: Household sector 8.2 8.9 9.7 10.7 11.8 13.2 14.5 15.9 17.3 18.5 18

 19 Nonfinancial corporate business 6.9 7.4 8.1 8.9 10.1 11.0 12.1 14.0 16.0 18.1 19

 20 Nonfinancial noncorporate business 6.1 6.6 7.2 7.9 8.9 10.0 11.2 12.8 14.2 15.7 20

 Unallocated insurance company contracts:

 21 Liab.: Life insurance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Asset: Private pension funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 State and local government retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 Pension fund contributions payable:

 24 Liab.: Nonfinancial corporate business 1.2 1.2 1.5 1.7 1.7 1.9 2.2 2.7 2.7 2.7 24

 25 Asset: Private pension funds 1.2 1.2 1.5 1.7 1.7 1.9 2.2 2.7 2.7 2.7 25

 Securities borrowed (net):

 26 Liab.: Funding corporations 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Asset: Brokers and dealers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 Retiree health care funds (3):

 28 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 Claims of pension fund on sponsor:

 30 Liab.: Nonfinancial corporate business 25.0 32.2 31.1 33.1 49.2 60.9 57.9 50.5 69.7 92.8 30

 31 Federal government 178.4 192.6 208.0 224.7 242.3 272.7 298.0 324.9 353.8 382.8 31

 32 State and local governments 32.5 36.3 37.1 43.6 51.1 52.1 65.3 79.5 70.6 87.1 32

 33 Asset: Private pension funds 25.0 32.2 31.1 33.1 49.2 60.9 57.9 50.5 69.7 92.8 33

 34 Federal government retirement funds 178.4 192.6 208.0 224.7 242.3 272.7 298.0 324.9 353.8 382.8 34

 35 State and local govt. retirement funds 32.5 36.3 37.1 43.6 51.1 52.1 65.3 79.5 70.6 87.1 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities. Funding agreement-backed securities issued by foreign entities

 are included in foreign direct investment in the U.S. See tables L.132 and L.230.

(3) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.
L

e

v

els

128 Historical Annuals, 1965-1974, March 10, 2016

L.234 Unidentified Miscellaneous Financial Claims

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Total liabilities 11.8 2.9 6.9 11.1 4.9 -12.8 0.8 23.8 23.8 -11.2 1

 2 Nonfinancial corporate business -17.2 -23.8 -19.6 -21.6 -35.1 -58.8 -55.8 -50.3 -67.9 -88.8 2

 3 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 8.6 11.5 14.2 17.4 23.0 3

 4 Federal government 0.2 0.7 1.0 1.2 0.9 0.3 0.3 0.3 0.3 1.7 4

 5 Monetary authority 0.3 0.4 0.4 0.8 1.1 1.5 1.3 1.3 2.5 2.3 5

 6 U.S.-chartered depository institutions 14.3 14.1 14.7 19.5 24.6 22.9 25.5 32.5 40.1 27.3 6

 7 Foreign banking offices in U.S. -1.0 -0.9 -0.9 -1.4 -1.5 -3.3 -4.4 0.8 1.3 0.7 7

 8 Banks in U.S.-affiliated areas 0.1 0.1 0.2 0.2 0.1 0.2 0.3 0.5 0.7 0.5 8

 9 Credit unions 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.6 0.7 1.0 9

 10 Life insurance companies 4.6 5.0 5.7 6.2 6.5 6.7 7.2 8.2 8.9 10.1 10

 11 Government-sponsored enterprises 0.8 0.8 0.8 0.8 1.3 1.8 1.7 2.1 3.5 2.5 11

 12 Finance companies 7.6 4.4 2.4 3.2 3.8 3.1 7.4 8.4 11.8 8.1 12

 13 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 0.4 1.9 13

 14 Brokers and dealers 0.7 0.6 0.6 0.5 0.5 0.4 0.4 1.0 -2.5 -4.5 14

 15 Holding companies 0.0 0.0 0.0 0.0 0.4 1.6 3.6 2.6 4.7 1.6 15

 16 Funding corporations 0.5 0.8 0.8 1.0 1.6 1.4 1.3 1.2 1.7 1.4 16

 17 Total assets 22.3 22.4 25.9 29.4 30.7 33.5 52.9 80.6 122.1 163.5 17

 18 Nonfinancial corporate business 4.4 4.0 4.2 4.3 4.7 5.2 12.3 21.6 44.5 96.5 18

 19 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 4.0 8.6 11.4 10.8 19

 20 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 State and local governments 0.3 0.5 0.5 0.4 0.3 0.2 0.3 0.2 0.2 0.1 21

 22 Monetary authority 0.5 0.7 0.7 0.9 0.8 0.9 1.1 1.1 1.4 3.2 22

 23 U.S.-chartered depository institutions 6.2 6.2 8.0 9.0 7.0 6.3 11.6 14.3 18.2 9.7 23

 24 Foreign banking offices in U.S. 0.6 0.8 0.2 0.7 -0.0 -1.4 -0.8 0.5 0.6 -0.0 24

 25 Banks in U.S.-affiliated areas 0.6 0.7 0.8 1.0 1.8 2.1 2.1 2.1 2.2 2.0 25

 26 Credit unions -0.2 -0.2 -0.3 -0.3 -0.3 -0.4 -0.4 -0.5 -0.6 -0.6 26

 27 Life insurance companies 2.1 1.9 2.5 2.7 3.2 3.5 4.1 4.5 4.9 5.6 27

 28 Private pension funds 4.3 5.4 6.4 7.2 8.0 8.9 9.7 16.4 20.1 24.7 28

 29 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Money market mutual funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 31

 32 Government-sponsored enterprises 0.4 0.4 0.4 0.4 0.8 1.5 1.7 1.4 2.3 0.5 32

 33 Finance companies 3.7 3.0 3.4 4.0 4.7 5.8 7.6 8.9 10.3 8.1 33

 34 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.2 1.3 0.7 0.3 34

 35 Brokers and dealers -0.6 -0.7 -0.8 -0.8 -0.8 -0.9 -0.9 -1.0 -1.0 -1.1 35

 36 Holding companies 0.0 0.0 0.0 0.0 0.7 1.8 0.5 1.1 6.9 3.9 36

 37 Discrepancy -10.5 -19.5 -18.9 -18.3 -25.8 -46.4 -52.1 -56.8 -98.3 -174.7 37
B

ala

n

c

e

S

h

e

ets

Historical Annuals, 1965-1974, March 10, 2016 129

B.101 Balance Sheet of Households and Nonprofit Organizations (1)

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Assets 3138.6 3261.3 3595.3 4011.7 4105.8 4326.9 4778.2 5417.5 5695.4 5864.7 1

 2 Nonfinancial assets 930.9 1006.0 1074.4 1200.8 1308.6 1390.7 1517.9 1714.2 1943.2 2064.4 2

 3 Real estate 696.3 748.9 794.2 889.6 968.7 1025.2 1127.7 1290.7 1472.6 1517.7 3

 4 Households (2,3) 605.6 649.0 685.7 768.2 832.4 874.5 957.2 1098.6 1251.4 1261.1 4

 5 Nonprofit organizations 90.7 100.0 108.5 121.4 136.2 150.7 170.5 192.1 221.2 256.6 5

 6 Equipment (nonprofits) (4) 5.3 5.8 6.3 6.9 7.6 8.4 9.1 10.6 12.5 16.4 6

 7 Intellectual property products (nonprofits) (4) 1.5 1.7 2.0 2.3 2.6 2.9 3.1 3.5 4.0 4.6 7

 8 Consumer durable goods (4) 227.9 249.5 271.9 302.1 329.7 354.3 377.9 409.5 454.0 525.7 8

 9 Financial assets 2207.7 2255.4 2520.8 2810.9 2797.2 2936.2 3260.3 3703.3 3752.3 3800.3 9

 10 Deposits 380.1 400.6 446.1 485.3 492.2 542.1 623.1 708.6 777.4 840.8 10

 11 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Checkable deposits and currency 91.6 93.5 103.8 112.7 110.9 118.6 132.1 144.4 152.5 157.4 12

 13 Time and savings deposits 288.5 307.1 342.3 372.5 381.3 423.5 491.0 564.2 624.9 681.0 13

 14 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 14

 15 Debt securities 127.5 145.5 148.7 154.5 192.3 192.4 185.9 181.8 207.5 249.0 15

 16 Open market paper 6.0 8.3 10.1 12.2 18.5 16.6 13.8 9.3 14.1 22.5 16

 17 Treasury securities 74.8 79.1 79.0 81.7 93.2 83.0 74.2 77.4 88.5 96.3 17

 18 Agency- and GSE-backed securities 1.1 5.9 6.3 6.1 11.3 15.9 14.6 8.9 8.3 13.7 18

 19 Municipal securities 36.5 41.2 38.2 36.5 47.2 47.1 46.0 47.7 55.1 62.2 19

 20 Corporate and foreign bonds 9.0 11.1 15.1 18.0 22.0 29.7 37.4 38.5 41.5 54.4 20

 21 Loans 42.3 44.6 48.8 54.0 51.9 53.7 50.9 51.0 50.8 54.0 21

 22 Other loans and advances (5) -0.3 -0.1 2.2 4.9 2.7 3.6 3.6 2.7 3.6 3.4 22

 23 Mortgages 42.6 44.6 46.6 49.1 49.2 50.1 47.3 48.3 47.2 50.6 23

 24 Consumer credit (student loans) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Corporate equities (2) 616.1 548.3 682.1 815.3 667.4 650.2 743.7 921.4 693.9 445.0 25

 26 Mutual fund shares (6) 34.4 33.9 43.0 49.5 45.6 44.5 53.0 56.4 43.7 31.8 26

 27 Life insurance reserves 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 27

 28 Pension entitlements (7) 397.9 433.6 471.8 520.1 573.5 639.5 714.6 804.2 852.6 930.2 28

 29 Equity in noncorporate business (8) 485.0 518.5 543.2 588.3 623.3 654.6 720.9 802.1 938.1 1051.0 29

 30 Miscellaneous assets 18.5 19.9 21.7 23.6 25.8 28.5 31.1 34.0 37.1 40.0 30

 31 Liabilities 352.8 376.0 410.9 436.1 463.8 478.7 524.1 585.4 652.0 707.8 31

 32 Debt securities (municipal securities) (10) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 1.3 32

 33 Loans 345.9 368.4 402.3 426.7 453.3 467.2 511.3 571.3 636.3 689.4 33

 34 Home mortgages (9) 219.4 232.7 246.0 262.9 278.7 286.0 309.5 343.6 382.2 419.3 34

 35 Consumer credit 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 35

 36 Depository institution loans n.e.c. 4.7 5.4 13.4 6.8 7.6 7.5 8.1 8.6 11.9 16.7 36

 37 Other loans and advances 16.0 17.9 22.4 27.3 26.8 28.1 32.0 37.1 35.3 37.0 37

 38 Commercial mortgages (10) 8.3 9.0 12.0 10.3 11.0 11.9 12.5 13.2 13.9 14.5 38

 39 Trade payables (10) 3.6 4.0 4.6 5.2 5.8 6.5 7.3 8.2 8.9 10.1 39

 40 Deferred and unpaid life insurance premiums 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 40

 41 Net worth 2785.8 2885.3 3184.4 3575.5 3642.0 3848.1 4254.1 4832.1 5043.4 5156.9 41

 Memo:

 42 Assets held in IRAs (11) ND ND ND ND ND ND ND ND ND ND 42

 43 Assets held in 529 college plans (11) ND ND ND ND ND ND ND ND ND ND 43

 44 College savings plans ND ND ND ND ND ND ND ND ND ND 44

 45 Prepaid tuition plans ND ND ND ND ND ND ND ND ND ND 45

 Replacement-cost value of structures:

 46 Residential 476.3 512.1 547.8 606.6 648.1 684.1 766.0 853.1 977.4 1104.5 46

 47 Households 461.8 496.1 530.7 587.5 627.4 662.2 741.2 825.2 945.5 1068.3 47

 48 Nonprofit organizations 14.5 16.0 17.1 19.1 20.7 21.9 24.7 27.9 31.9 36.2 48

 49 Nonresidential (nonprofits) 53.8 59.3 64.2 71.6 79.8 88.9 101.4 113.2 127.1 148.6 49

 50 Disposable personal income (DPI) (SAAR) 513.2 554.2 592.8 643.7 695.8 761.5 830.4 899.9 1006.1 1098.3 50

 51 Net worth/DPI (percent) (line 41/line 50) 542.86 520.63 537.19 555.42 523.46 505.32 512.27 536.94 501.28 469.53 51

 52 Owners’ equity in real estate (line 4 less line 34) 386.1 416.2 439.7 505.2 553.8 588.5 647.8 755.1 869.2 841.8 52

 53 Owners’ equity/real estate (percent) (line 52/line 4) 63.76 64.14 64.13 65.77 66.52 67.29 67.67 68.73 69.46 66.75 53

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

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

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

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

(8) Net worth of nonfinancial noncorporate business (table B.104, line 35) and owners’ equity in unincorporated security brokers and dealers.

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

(10) Liabilities of nonprofit organizations.

(11) Included in assets shown on the household balance sheet.
B

ala

n

c

e

S

h

e

ets

130 Historical Annuals, 1965-1974, March 10, 2016

B.103 Balance Sheet of Nonfinancial Corporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 1024.0 1109.9 1193.3 1308.2 1445.9 1566.5 1713.8 1897.0 2168.2 2559.2 1

 2 Nonfinancial assets 761.3 832.8 898.4 980.2 1083.8 1182.9 1288.6 1403.4 1596.5 1943.1 2

 3 Real estate (1) 424.0 454.0 483.2 524.9 580.4 638.0 707.0 775.7 883.3 1062.9 3

 4 Equipment (2) 182.2 204.2 225.2 249.7 276.2 303.4 324.8 350.0 388.3 478.8 4

 5 Intellectual property products (2) 37.5 41.6 46.8 52.5 59.3 65.3 69.7 75.3 84.0 95.6 5

 6 Inventories (2) 117.6 133.0 143.3 153.2 167.9 176.1 187.1 202.4 240.9 305.8 6

 7 Financial assets 262.7 277.1 294.9 327.9 362.2 383.6 425.2 493.6 571.7 616.1 7

 8 Foreign deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 8

 9 Checkable deposits and currency 33.3 32.6 35.1 37.8 43.4 44.4 42.9 45.3 46.7 48.2 9

 10 Time and savings deposits 9.0 8.6 9.7 9.1 3.7 5.3 9.5 11.9 16.6 20.5 10

 11 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Security repurchase agreements 0.6 0.9 0.7 1.1 3.3 0.2 1.1 2.7 11.3 5.5 12

 13 Debt securities 19.8 18.6 16.9 19.3 17.8 19.1 24.4 26.3 23.4 26.7 13

 14 Commercial paper 1.4 2.9 4.0 5.1 7.6 9.4 11.3 14.2 14.9 16.5 14

 15 Treasury securities 12.5 11.1 8.6 9.0 5.6 6.3 9.1 6.9 2.5 2.6 15

 16 Agency- and GSE-backed securities 1.2 1.0 1.0 1.4 1.7 1.2 0.9 1.0 2.0 3.0 16

 17 Municipal securities 4.6 3.6 3.3 3.8 2.8 2.2 3.2 4.2 4.0 4.7 17

 18 Loans 13.3 13.5 13.8 13.9 14.3 14.9 17.6 18.2 19.5 21.0 18

 19 Mortgages 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 19

 20 Consumer credit 13.2 13.4 13.7 13.8 14.0 14.7 17.3 18.0 19.2 20.3 20

 21 Mutual fund shares (1) 0.3 0.4 0.6 0.8 0.7 0.6 0.7 0.7 0.8 0.8 21

 22 Trade receivables 120.9 133.3 141.6 160.1 182.9 191.4 203.8 230.2 269.3 245.5 22

 23 U.S. direct investment abroad (3) 53.3 56.7 63.0 70.8 79.8 90.6 99.6 120.5 120.3 128.2 23

 24 Miscellaneous assets 11.4 11.6 12.4 13.4 15.1 16.3 24.4 35.6 60.5 114.7 24

 25 Liabilities 336.9 371.1 399.1 448.2 502.9 542.3 588.2 652.8 764.6 769.2 25

 26 Debt securities 98.1 109.1 125.2 139.3 152.4 173.9 191.9 205.4 217.7 243.2 26

 27 Commercial paper 0.8 1.6 3.0 4.2 5.4 7.1 6.2 7.0 8.4 12.5 27

 28 Municipal securities (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 2.4 4.1 28

 29 Corporate bonds (3) 97.3 107.5 122.1 135.0 147.0 166.8 185.6 197.8 206.9 226.6 29

 30 Loans 110.1 123.8 130.1 146.8 166.5 189.5 200.3 226.5 279.7 309.9 30

 31 Depository institution loans n.e.c. 61.1 69.7 76.3 86.1 95.7 101.7 106.2 119.2 134.1 156.1 31

 32 Other loans and advances 14.9 16.4 16.6 18.3 27.6 28.0 29.2 33.1 40.8 50.1 32

 33 Mortgages 34.1 37.7 37.2 42.4 43.3 59.8 64.9 74.2 104.8 103.7 33

 34 Trade payables 94.9 104.1 110.0 126.5 146.0 153.8 167.5 190.7 228.8 165.6 34

 35 Taxes payable 18.3 17.4 13.2 14.3 12.6 10.0 13.1 15.5 19.3 24.5 35

 36 Foreign direct investment in U.S. 6.4 6.9 7.6 8.3 9.6 11.1 11.2 11.9 14.6 19.3 36

 37 Miscellaneous liabilities 9.1 9.7 13.0 13.1 15.8 4.0 4.2 2.9 4.5 6.7 37

 38 Net worth (market value) 687.1 738.8 794.2 859.9 943.1 1024.2 1125.5 1244.2 1403.6 1790.0 38

 Memo:

 Replacement-cost value of structures:

 39 Residential 8.4 9.6 10.5 11.5 12.3 12.9 14.6 16.5 18.9 21.5 39

 40 Nonresidential 305.4 325.8 348.9 380.8 417.6 459.8 510.3 554.0 630.7 772.7 40

 41 Market value of equities outstanding 623.8 547.9 712.2 843.2 705.1 702.2 823.8 1032.7 809.4 557.6 41

 42 Debt/net worth (percent) (lines 26+30/line 38) 30.30 31.53 32.14 33.27 33.81 35.48 34.85 34.71 35.44 30.90 42

 43 Debt/equities (percent) (lines 26+30/line 41) 33.37 42.51 35.84 33.93 45.23 51.75 47.62 41.82 61.46 99.19 43

 44 Equities/net worth (percent) (line 41/line 38) 90.79 74.16 89.68 98.05 74.76 68.56 73.19 83.00 57.67 31.15 44

 With nonfinancial assets stated at historical cost:

 45 Assets (sum of lines 7 and 46) 817.2 887.3 953.0 1039.3 1141.7 1213.8 1305.3 1451.4 1633.8 1807.9 45

 46 Nonfinancial assets 554.5 610.2 658.2 711.4 779.5 830.2 880.1 957.7 1062.1 1191.8 46

 47 Real estate 230.9 248.2 265.3 282.7 304.8 325.8 347.3 372.7 403.6 437.3 47

 48 Equipment 162.4 180.8 197.3 215.7 236.6 255.1 272.6 294.8 325.0 359.2 48

 49 Intellectual property products 34.6 38.4 42.4 46.9 51.7 56.0 59.8 64.5 69.6 75.7 49

 50 Inventories 126.6 142.8 153.1 166.0 186.4 193.3 200.4 225.7 263.9 319.5 50

 51 Net worth (historical cost) (line 45 less line 25) 480.4 516.2 553.9 591.1 638.8 671.6 717.0 798.5 869.2 1038.7 51

 Memo:

 Historical-cost value of structures:

 52 Residential 5.5 6.3 7.0 7.2 7.7 8.1 8.7 9.6 10.4 11.3 52

 53 Nonresidential 197.2 211.2 225.3 240.3 257.5 275.8 294.5 315.6 340.5 370.3 53

 54 Debt/net worth (percent) (lines 26+30/line 49) 43.34 45.12 46.08 48.40 49.92 54.11 54.70 54.08 57.23 53.25 54

(1) At market value.

(2) At replacement (current) cost.

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

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

ala

n

c

e

S

h

e

ets

Historical Annuals, 1965-1974, March 10, 2016 131

B.104 Balance Sheet of Nonfinancial Noncorporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Assets 593.6 635.6 670.5 724.5 775.4 821.3 914.4 1032.3 1213.2 1372.9 1

 2 Nonfinancial assets 556.9 597.8 631.5 685.7 734.6 778.6 861.9 969.8 1137.6 1292.6 2

 3 Real estate (1) 458.5 493.6 523.0 569.3 609.0 648.1 719.6 812.0 952.7 1092.7 3

 4 Residential 215.2 234.1 247.4 275.6 297.8 316.6 356.0 406.7 469.2 536.6 4

 5 Nonresidential 243.2 259.5 275.5 293.7 311.2 331.5 363.7 405.4 483.6 556.1 5

 6 Equipment (2) 52.4 56.8 60.6 64.8 70.0 75.7 80.4 85.1 94.5 114.5 6

 7 Residential (3) 2.7 2.8 3.0 3.4 3.8 4.2 4.6 5.2 5.9 7.3 7

 8 Nonresidential 49.7 54.0 57.6 61.5 66.2 71.5 75.8 79.8 88.6 107.2 8

 9 Intellectual property products (2) 6.5 6.7 7.0 7.3 7.8 8.1 8.2 8.3 8.5 9.0 9

 10 Inventories (2) 39.6 40.7 40.8 44.2 47.9 46.8 53.6 64.4 81.9 76.5 10

 11 Financial assets 36.7 37.7 39.0 38.8 40.8 42.7 52.5 62.5 75.6 80.3 11

 12 Checkable deposits and currency 18.2 18.2 18.3 18.5 18.6 18.7 18.8 19.1 23.7 23.7 12

 13 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 1.4 3.0 4.6 6.2 7.8 13

 14 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Debt securities 0.0 0.0 0.1 0.3 0.5 0.7 0.9 1.1 1.2 1.2 15

 16 Treasury securities 0.0 0.0 0.1 0.3 0.5 0.7 0.9 1.1 1.2 1.2 16

 17 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Loans 4.0 4.0 3.9 3.9 4.0 4.5 5.6 6.6 6.7 6.5 18

 19 Mortgages 0.0 0.0 0.0 0.0 0.3 0.7 1.9 3.0 3.3 3.4 19

 20 Consumer credit 4.0 4.0 3.9 3.9 3.7 3.8 3.7 3.6 3.4 3.1 20

 21 Trade receivables 7.9 8.5 9.0 7.7 8.1 6.6 8.1 8.8 11.1 13.3 21

 22 Miscellaneous assets 6.5 7.0 7.7 8.5 9.6 10.7 16.1 22.3 26.7 27.8 22

 23 Insurance receivables 6.1 6.6 7.2 7.9 8.9 10.0 11.2 12.8 14.2 15.7 23

 24 Equity investment in GSEs (4) 0.4 0.5 0.5 0.6 0.7 0.8 0.8 0.9 1.1 1.3 24

 25 Other 0.0 0.0 0.0 0.0 0.0 0.0 4.0 8.6 11.4 10.8 25

 26 Liabilities 108.5 117.0 127.3 136.2 152.2 166.7 193.5 230.2 276.0 323.5 26

 27 Loans 95.6 105.3 115.6 126.6 141.9 148.6 171.2 202.6 230.1 267.2 27

 28 Depository institution loans n.e.c. 14.0 16.3 17.7 19.1 21.9 22.3 24.5 27.2 44.9 53.2 28

 29 Other loans and advances 10.7 11.6 12.8 13.6 15.1 16.6 17.8 19.0 22.3 25.9 29

 30 Mortgages 70.9 77.4 85.2 93.9 104.9 109.6 128.9 156.3 162.9 188.1 30

 31 Trade payables 12.8 11.5 11.5 9.4 10.0 9.3 9.5 10.7 24.0 27.1 31

 32 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.5 4.0 5.5 32

 33 Foreign direct investment in U.S. 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.6 33

 34 Miscellaneous liabilities 0.0 0.0 0.0 0.0 0.0 8.6 11.5 14.2 17.4 23.0 34

 35 Net worth (5) 485.0 518.5 543.2 588.3 623.3 654.6 720.9 802.1 937.2 1049.3 35

 Memo:

 Replacement-cost value of structures:

 36 Residential 176.3 192.8 203.5 224.8 242.4 257.5 291.7 332.7 383.3 440.3 36

 37 Nonresidential 72.6 78.3 83.6 91.3 100.1 109.9 123.3 135.3 152.5 181.0 37

 38 Debt/net worth (percent) (line 27/line 35) 19.71 20.30 21.28 21.52 22.77 22.69 23.74 25.25 24.56 25.47 38

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Included in table B.101, line 29.
B

ala

n

c

e

S

h

e

ets

132 Historical Annuals, 1965-1974, March 10, 2016

R.101 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Change in net worth (1) 197.8 99.5 299.1 391.1 66.4 206.2 405.9 578.0 211.3 113.4 1

 2 Net investment 82.8 97.5 92.5 111.9 112.0 131.5 144.0 156.6 198.7 168.7 2

 3 Net physical investment 36.4 36.5 34.3 42.1 42.1 34.6 49.2 64.9 74.3 54.9 3

 4 Capital expenditures 92.8 97.0 99.5 114.2 121.6 120.3 142.6 166.0 186.4 181.2 4

 5 - Consumption of fixed capital 56.4 60.5 65.2 72.1 79.5 85.7 93.4 101.1 112.1 126.3 5

 6 Net lending (+) or net borrowing (-) 46.3 61.0 58.2 69.8 69.9 96.9 94.8 91.7 124.5 113.9 6

 7 Net acquisition of financial assets 75.7 83.9 93.2 94.8 99.0 115.9 140.2 153.1 189.9 169.9 7

 8 - Net increase in liabilities 29.4 22.9 35.0 25.0 29.1 18.9 45.4 61.4 65.4 56.0 8

 Holding gains on assets

 9 at market value (2) 118.4 -3.6 201.8 268.8 -54.5 56.6 251.0 409.8 43.9 -110.9 9

 10 Real estate 13.4 33.7 26.8 76.0 58.1 36.0 75.1 127.2 142.6 14.1 10

 11 Corporate equities 82.5 -58.0 147.5 153.0 -130.8 -12.8 99.5 188.0 -223.8 -247.6 11

 12 Mutual fund shares 3.9 -2.8 8.2 4.4 -6.6 -2.1 8.2 4.8 -10.5 -10.5 12

 13 Equity in noncorporate business 23.1 30.0 23.7 41.9 34.8 31.7 64.5 86.4 141.9 140.0 13

 14 Life insurance reserves 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Pension entitlements -4.5 -6.5 -4.4 -6.5 -10.0 3.9 3.7 3.3 -6.3 -6.8 15

 16 Equity investment under PPIP 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Holding gains on assets

 17 at current cost (2) -3.5 3.9 6.5 9.5 8.4 10.6 4.0 5.5 12.9 52.4 17

 18 Consumer durable goods -3.5 3.8 6.4 9.3 8.2 10.3 3.8 5.5 12.5 50.2 18

 19 Equipment -0.0 0.1 0.1 0.2 0.2 0.2 0.1 -0.1 0.2 1.7 19

 20 Intellectual property products -0.0 -0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.3 0.4 20

 21 Other volume changes (3) 0.1 1.6 -1.7 1.0 0.5 7.4 6.9 6.2 -44.2 3.2 21

 Memo:

 22 Net worth outstanding (4) 2785.8 2885.3 3184.4 3575.5 3642.0 3848.1 4254.1 4832.1 5043.4 5156.9 22

 23 Disposable personal income 513.2 554.2 592.8 643.7 695.8 761.5 830.4 899.9 1006.1 1098.3 23

(1) Sum of net investment (line 2), holding gains (lines 9 and 17), and other volume changes (line 21).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Consists of statistical discontinuities and disaster-related losses to fixed assets. Also includes the difference between series for consumption of fixed capital published by BEA.

(4) Table B.101, line 41.
B

ala

n

c

e

S

h

e

ets

Historical Annuals, 1965-1974, March 10, 2016 133

R.103 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Change in net worth (1) 43.5 51.7 55.4 65.7 83.1 81.1 101.3 118.7 159.4 386.5 1

 2 Net investment 25.0 25.9 29.4 26.4 28.8 22.2 36.6 55.9 41.4 62.1 2

 3 Net physical investment 33.1 45.7 39.6 43.1 49.3 42.0 41.1 52.4 82.6 108.4 3

 4 Capital expenditures 67.6 83.0 81.5 87.6 96.9 94.7 101.2 115.9 141.2 161.5 4

 5 - Consumption of fixed capital 35.8 39.4 43.5 48.1 53.5 59.3 64.7 70.2 78.2 91.4 5

 6 - Inventory valuation adjustment -1.2 -2.1 -1.6 -3.7 -5.9 -6.6 -4.6 -6.6 -19.6 -38.2 6

 7 Net lending (+) or net borrowing (-) -8.0 -21.1 -12.6 -16.6 -23.8 -25.5 -15.9 -7.4 -49.1 -50.4 7

 8 Net acquisition of financial assets 27.4 14.4 17.8 33.1 34.2 21.4 41.5 68.4 78.1 50.6 8

 9 - Net increase in liabilities 35.4 35.4 30.4 49.7 58.1 47.0 57.4 75.9 127.3 101.0 9

 10 Net corporate equity issues -0.0 1.3 2.4 -0.2 3.4 5.7 11.4 10.9 7.9 4.1 10

 Holding gains on assets

 11 at market value (2) 11.6 15.7 15.2 27.8 37.4 41.1 53.1 49.8 83.9 155.9 11

 12 Real estate 11.6 15.7 15.1 27.7 37.5 41.2 53.0 49.8 84.1 156.2 12

 13 Mutual fund shares 0.0 -0.0 0.1 0.0 -0.2 -0.1 0.1 0.0 -0.2 -0.3 13

 Holding gains on assets less

 14 liabilities at current cost (2) 9.4 5.4 11.0 13.2 16.2 18.9 13.6 25.9 14.9 85.5 14

 15 Equipment 1.0 5.4 6.7 8.8 9.0 12.8 8.8 8.1 13.6 64.8 15

 16 Intellectual property products 0.7 0.8 1.6 2.0 2.9 3.2 2.1 2.6 5.6 8.7 16

 17 Inventories (3) 1.8 1.3 1.0 -0.5 0.9 -0.7 0.6 1.1 6.5 12.1 17

 18 Direct investment abroad 5.9 -1.8 1.8 2.8 3.4 3.7 1.9 13.9 -10.6 0.0 18

 19 - Foreign direct investment in U.S. -0.1 0.1 -0.0 -0.1 0.2 0.1 -0.2 -0.1 0.1 0.1 19

 20 Other volume changes (4) -2.6 4.7 -0.2 -1.6 0.8 -1.0 -2.0 -12.9 19.1 83.0 20

 Memo:

 21 Net worth outstanding (5) 687.1 738.8 794.2 859.9 943.1 1024.2 1125.5 1244.2 1403.6 1790.0 21

(1) Sum of net investment (line 2), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Calculated as change in amount outstanding less net purchases during period less disaster-related losses to fixed assets.

(3) Before inventory valuation adjustment.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.103, line 38.
B

ala

n

c

e

S

h

e

ets

134 Historical Annuals, 1965-1974, March 10, 2016

R.104 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Change in net worth (1) 26.9 33.5 24.7 45.1 35.0 31.3 66.3 81.2 135.1 112.2 1

 2 Net capital transfers paid 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Net investment 3.8 3.5 0.9 3.2 0.1 -0.4 1.8 -4.9 9.4 -27.8 3

 4 Net physical investment 12.1 10.9 9.9 12.2 14.1 12.4 18.7 21.8 26.5 15.0 4

 5 Capital expenditures 25.7 25.5 25.4 28.9 32.3 32.0 40.1 45.1 52.2 44.6 5

 6 - Consumption of fixed capital 13.5 14.5 15.5 16.7 18.2 19.6 21.4 23.3 25.7 29.6 6

 7 Net lending (+) or net borrowing (-) -12.1 -10.9 -9.9 -12.2 -14.1 -12.4 -18.7 -21.8 -26.5 -15.0 7

 8 Net acquisition of financial assets 0.6 1.1 1.3 -0.2 2.0 1.9 9.8 10.0 9.1 4.7 8

 9 - Net increase in liabilities 12.8 12.0 11.2 12.0 16.1 14.2 28.5 31.7 35.6 19.7 9

 10 Proprietor’s net investment (2) 3.8 3.5 0.9 3.2 0.1 -0.4 1.8 -4.9 9.4 -27.8 10

 11 Holding gains on real estate (3) 20.0 27.9 22.9 37.5 28.5 27.5 56.3 73.8 121.3 125.1 11

 12 Residential 6.6 15.1 10.1 22.3 14.6 11.2 28.3 36.2 49.0 58.8 12

 13 Nonresidential 13.4 12.7 12.9 15.2 13.9 16.3 28.0 37.6 72.3 66.3 13

 14 Holding gains on assets at current cost (3) 3.1 2.1 0.8 4.5 6.3 4.2 8.3 12.6 20.4 14.9 14

 15 Residential equipment -0.1 -0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.1 0.7 15

 16 Nonresidential equipment 1.0 2.4 2.4 3.0 3.4 4.3 3.7 3.1 5.8 18.2 16

 17 Intellectual property products 0.3 0.2 0.4 0.3 0.5 0.5 0.2 0.3 0.3 0.7 17

 18 Inventories 1.9 -0.5 -2.0 1.0 2.4 -0.7 4.4 9.2 14.1 -4.8 18

 19 - Foreign direct investment in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 -0.0 19

 20 Other volume changes (4) -0.0 0.0 -0.0 0.0 -0.0 0.0 -0.1 -0.3 -15.9 -0.0 20

 Memo:

 21 Net worth outstanding (5) 485.0 518.5 543.2 588.3 623.3 654.6 720.9 802.1 937.2 1049.3 21

(1) Sum of net capital transfers paid (line 2), net investment (line 3), holding gains (lines 11 and 14), and other volume changes (line 20).

(2) Shown on table F.104, line 32.

(3) Calculated as change in amount outstanding less net investment during period less disaster-related losses to fixed assets.

(4) Consists of statistical discontinuities and disaster-related losses to fixed assets.

(5) Table B.104, line 35.
S

u

p

ple

m

e

nts

Historical Annuals, 1965-1974, March 10, 2016 135

B.101.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Assets 3138.6 3261.3 3595.3 4011.7 4105.8 4326.9 4778.2 5417.5 5695.4 5864.7 1

 2 Nonfinancial assets 930.9 1006.0 1074.4 1200.8 1308.6 1390.7 1517.9 1714.2 1943.2 2064.4 2

 3 Financial assets 2207.7 2255.4 2520.8 2810.9 2797.2 2936.2 3260.3 3703.3 3752.3 3800.3 3

 4 Deposits 380.1 400.6 446.1 485.3 492.2 542.1 623.1 708.6 777.4 840.8 4

 5 Debt securities 127.5 145.5 148.7 154.5 192.3 192.4 185.9 181.8 207.5 249.0 5

 6 Loans 42.3 44.6 48.8 54.0 51.9 53.7 50.9 51.0 50.8 54.0 6

 7 Equity shares at market value 654.6 584.8 731.4 874.1 721.5 708.7 818.8 1006.6 761.1 493.7 7

 8 Directly held 616.1 548.3 682.1 815.3 667.4 650.2 743.7 921.4 693.9 445.0 8

 9 Indirectly held 38.5 36.5 49.3 58.8 54.2 58.5 75.1 85.2 67.2 48.7 9

 10 Life insurance companies 0.2 0.5 1.1 1.9 2.8 4.0 6.5 8.7 7.9 6.1 10

 11 Private pension funds (1) 8.2 7.9 10.2 12.3 12.3 16.8 22.2 27.0 23.4 18.7 11

 12 Federal govt. retirement funds (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 State and local govt. retirement funds (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Mutual funds 30.2 28.1 38.0 44.6 39.1 37.7 46.5 49.5 35.9 23.8 14

 15 Other 1003.2 1079.9 1145.9 1243.0 1339.3 1439.3 1581.5 1755.4 1955.5 2162.8 15

 16 Liabilities 352.8 376.0 410.9 436.1 463.8 478.7 524.1 585.4 652.0 707.8 16

 17 Net worth 2785.8 2885.3 3184.4 3575.5 3642.0 3848.1 4254.1 4832.1 5043.4 5156.9 17

 Memo:

 Equity shares (line 7) as a percent of

 18 Total assets (line 1) 20.86 17.93 20.34 21.79 17.57 16.38 17.14 18.58 13.36 8.42 18

 19 Financial assets (line 3) 29.65 25.93 29.01 31.10 25.80 24.14 25.12 27.18 20.28 12.99 19

(1) Defined contribution plans. Assets held by defined benefit pension funds are not considered assets of the household sector. Defined benefit pension entitlements are included in line 15.
Inte

g

r

ate

d

A

c

c

o

u

nts

136 Historical Annuals, 1965-1974, March 10, 2016

S.1.a Total Economy - Current Account

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross value added 743.0 809.9 858.3 939.3 1018.3 1070.5 1158.3 1275.3 1422.4 1541.4 1

 (income approach)

 2 Less: Consumption of fixed capital 88.0 95.3 103.5 113.3 124.9 136.8 148.9 160.9 178.1 206.2 2

 3 Equals: Net value added 655.0 714.6 754.8 826.0 893.4 933.8 1009.4 1114.4 1244.4 1335.3 3

 4 Compensation of employees (paid) 406.3 450.3 482.9 532.1 586.0 625.1 667.0 733.6 815.1 890.3 4

 5 Wages and salaries 363.8 400.3 429.0 472.0 518.3 551.5 584.5 638.8 708.8 772.3 5

 6 Employers’ social contributions 42.6 50.0 53.9 60.1 67.7 73.6 82.5 94.9 106.3 118.0 6

 7 Taxes on production and imports less subsidies 57.7 59.3 64.1 72.2 79.3 86.6 95.8 101.3 112.0 121.6 7

 8 Operating surplus, net 190.9 205.1 207.8 221.6 228.1 222.0 246.6 279.5 317.3 323.3 8

 9 Plus: Income receipts from the rest of the world 7.9 8.1 8.7 10.1 11.8 12.8 14.0 16.3 23.5 29.8 9

10 Less: Income payments to the rest of the world 2.6 3.0 3.3 4.0 5.7 6.4 6.4 7.7 10.9 14.3 10

11 Equals: Net national income/Balance of primary incomes, net 660.3 719.7 760.2 832.1 899.5 940.1 1017.0 1123.0 1257.0 1350.8 11

12 Operating surplus, net 190.9 205.1 207.8 221.6 228.1 222.0 246.6 279.5 317.3 323.3 12

13 Compensation of employees (received) 406.3 450.3 482.9 532.1 586.0 625.1 667.0 733.6 815.0 890.3 13

14 Wages and salaries 363.8 400.3 429.0 472.0 518.3 551.6 584.5 638.8 708.8 772.3 14

15 Employers’ social contributions 42.6 50.0 53.9 60.1 67.7 73.6 82.5 94.9 106.3 118.0 15

16 Taxes on production and imports, receivable 60.7 63.2 67.9 76.4 83.9 91.4 100.5 107.9 117.2 124.9 16

17 Subsidies paid -3.0 -3.9 -3.8 -4.2 -4.5 -4.8 -4.7 -6.6 -5.2 -3.3 17

18 Property income (received) 205.9 222.1 236.5 260.2 291.8 327.4 356.2 397.3 472.5 545.5 18

19 Interest 104.3 115.8 127.2 142.4 168.7 202.0 222.1 245.9 289.9 351.9 19

20 Distributed income of corporations 99.2 103.5 106.4 113.9 118.8 120.5 129.0 144.7 171.8 182.6 20

21 Dividends 29.6 29.6 31.0 34.1 35.8 36.5 38.8 42.3 50.7 62.0 21

22 Withdrawals from income of quasi-corporations 69.6 73.9 75.4 79.8 83.0 84.0 90.2 102.5 121.1 120.6 22

23 Reinvested earnings on U.S. direct investment abroad 1.7 2.0 2.0 2.8 3.2 3.6 3.7 5.2 9.0 8.8 23

24 Rents on land and natural resources 0.7 0.8 0.9 1.1 1.1 1.2 1.4 1.5 1.8 2.1 24

25 Less: Uses of property income (paid) 200.6 217.1 231.2 254.1 285.7 321.0 348.6 388.7 459.9 529.9 25

26 Interest 103.7 115.3 126.6 142.0 169.2 202.8 222.4 246.8 292.1 353.9 26

27 Distributed income of corporations 95.8 100.6 103.2 110.5 115.0 116.6 124.3 139.8 165.0 172.9 27

28 Dividends 26.2 26.7 27.8 30.7 32.0 32.6 34.1 37.4 43.9 52.3 28

29 Withdrawals from income of quasi-corporations 69.6 73.9 75.4 79.8 83.0 84.0 90.2 102.5 121.1 120.6 29

30 Reinvested earnings on foreign direct investment 0.4 0.3 0.4 0.5 0.4 0.4 0.6 0.6 0.9 1.1 30

31 Rents on land and natural resources 0.7 0.8 0.9 1.1 1.1 1.2 1.4 1.5 1.8 2.1 31

32 Net national income/Balance of primary incomes, net 660.3 719.7 760.2 832.1 899.5 940.1 1017.0 1123.0 1257.0 1350.8 32

33 Plus: Current taxes on income, wealth, etc. (received) 88.7 100.3 105.9 126.7 144.6 137.8 139.8 165.9 182.1 203.2 33

34 Less: Current taxes on income, wealth, etc. (paid) 88.7 100.3 105.9 126.6 144.5 137.8 139.9 166.0 182.4 203.8 34

35 Plus: Social benefits (received) 57.4 68.9 80.7 92.1 103.3 118.3 136.9 154.4 184.7 214.3 35

36 Less: Social contributions (paid) 57.8 69.3 81.2 92.6 103.7 118.8 137.4 155.0 185.3 215.1 36

37 Plus: Other current transfers (received) 10.6 13.5 15.5 17.1 19.6 24.0 27.8 37.1 41.1 43.8 37

38 Less: Other current transfers (paid) 15.0 18.3 20.6 22.6 25.2 30.1 35.1 45.6 48.0 51.1 38

39 Equals: Disposable income, net 655.5 714.6 754.7 826.2 893.6 933.5 1009.1 1113.8 1249.1 1342.0 39

40 Less: Final consumption expenditures 560.6 613.4 657.8 725.0 785.4 842.1 911.8 997.0 1091.9 1198.9 40

41 Equals: Net saving 94.9 101.1 96.9 101.2 108.2 91.4 97.3 116.8 157.3 143.1 41

 Addendum:

42 Gross value added (line 1) 743.0 809.9 858.3 939.3 1018.3 1070.5 1158.3 1275.3 1422.4 1541.4 42

43 Plus statistical discrepancy (NIPA) 0.8 5.1 3.4 3.2 1.6 5.4 9.5 7.1 6.1 7.4 43

44 Equals: GDP (NIPA, expenditure approach) 743.7 815.0 861.7 942.5 1019.9 1075.9 1167.8 1282.4 1428.5 1548.8 44

45 Average of GDP and GDI 743.3 812.5 860.0 940.9 1019.1 1073.2 1163.0 1278.9 1425.5 1545.1 45

46 Statistical discrepancy as a percentage of GDP 0.10 0.63 0.40 0.34 0.16 0.50 0.81 0.56 0.43 0.48 46
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 137

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

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 1 Gross value added 743.0 809.9 858.3 939.3 1018.3 1070.5 1158.3 1275.3 1422.4 1541.4 1

 2 Households and nonprofit institutions serving households 63.0 68.0 73.4 79.4 87.6 95.2 105.2 114.8 125.6 138.3 2

 3 Nonfinancial noncorporate business 140.7 149.0 153.7 161.7 170.3 177.3 188.7 206.5 241.4 256.7 3

 4 Nonfinancial corporate business 400.7 440.1 463.2 510.9 554.6 572.8 618.0 685.9 768.8 830.1 4

 5 Financial business 27.7 30.1 33.6 37.6 42.4 45.6 50.1 54.6 58.5 66.8 5

 6 Federal government 59.3 65.5 71.3 78.3 83.6 89.5 95.1 101.2 104.7 112.5 6

 7 State and local government 51.6 57.2 63.1 71.4 79.8 90.2 101.1 112.2 123.5 137.1 7

 8 Net saving 94.9 101.1 96.9 101.2 108.2 91.4 97.3 116.8 157.3 143.1 8

 9 Households and nonprofit institutions serving households 58.3 61.4 72.2 72.1 75.0 96.1 110.1 109.2 131.8 141.7 9

10 Nonfinancial corporate business 33.5 36.5 34.6 33.1 28.7 21.4 30.1 39.4 43.9 30.5 10

11 Financial business 4.5 5.1 4.9 5.5 5.5 5.8 7.3 8.7 9.6 9.2 11

12 Federal government -5.5 -7.0 -19.5 -13.7 -5.1 -34.8 -50.8 -48.9 -37.7 -40.6 12

13 State and local government 4.1 5.2 4.7 4.3 4.1 3.0 0.6 8.4 9.6 2.3 13

 Net capital transfers

14 Households and nonprofit institutions serving households 3.6 3.9 4.0 4.1 4.6 4.8 5.8 6.8 6.6 6.3 14

15 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Nonfinancial corporate business -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 -0.2 16

17 Financial business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

18 Federal government 1.2 1.3 1.2 2.9 2.3 1.6 1.4 0.7 0.9 3.1 18

19 State and local government -4.7 -5.1 -5.1 -6.8 -6.8 -6.2 -7.0 -7.3 -7.3 -9.2 19

20 Rest of the world 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 20

21 Gross fixed capital formation 168.3 184.1 190.5 207.1 223.9 227.8 247.1 279.7 316.7 336.7 21

22 Households and nonprofit institutions serving households 32.1 31.2 31.7 35.9 38.5 37.5 48.7 60.2 66.7 61.7 22

23 Nonfinancial noncorporate business 23.2 23.9 23.4 26.7 31.2 32.6 37.8 44.0 49.3 45.6 23

24 Nonfinancial corporate business 61.6 71.9 73.8 80.2 89.2 92.2 95.2 107.7 125.5 141.3 24

25 Financial business (nonresidential) 3.5 3.6 4.0 5.1 5.5 5.8 6.9 7.2 9.5 11.9 25

26 Federal government 26.7 30.1 31.9 31.1 30.7 30.5 27.8 29.3 31.7 35.7 26

27 State and local government 21.2 23.5 25.7 28.1 28.8 29.3 30.7 31.3 34.0 40.5 27

28 Consumption of fixed capital 88.0 95.3 103.5 113.3 124.9 136.8 148.9 160.9 178.1 206.2 28

29 Households and nonprofit institutions serving households 10.7 11.5 12.4 13.6 15.2 16.5 18.2 20.3 23.3 27.0 29

30 Nonfinancial noncorporate business 13.5 14.5 15.4 16.6 18.1 19.5 21.3 23.1 25.5 29.3 30

31 Nonfinancial corporate business 35.8 39.4 43.5 48.1 53.5 59.3 64.7 70.2 78.2 91.4 31

32 Financial business (nonresidential) 1.6 1.8 2.0 2.3 2.6 3.0 3.4 3.8 4.5 5.4 32

33 Federal government 20.0 21.0 22.4 24.1 25.8 27.6 29.0 30.1 31.7 34.7 33

34 State and local government 6.4 7.1 7.8 8.6 9.7 10.9 12.2 13.3 14.9 18.3 34

35 Change in inventories 9.2 13.6 9.9 9.1 9.2 2.0 8.3 9.1 15.9 14.0 35

36 Nonfinancial noncorporate business 2.5 1.6 2.1 2.4 1.2 -0.4 2.5 1.5 3.4 -0.7 36

37 Nonfinancial corporate business 6.7 12.0 7.8 6.7 8.0 2.4 5.8 7.6 12.5 14.6 37

38 Net lending (+) or net borrowing (-) (capital account) 5.4 -1.3 0.1 -1.6 -0.0 -1.6 -9.2 -11.2 2.7 -1.5 38

39 Households and nonprofit institutions serving households 34.2 38.9 50.1 46.9 47.9 71.1 75.1 63.8 83.2 102.2 39

40 Nonfinancial noncorporate business -12.3 -11.1 -10.0 -12.4 -14.4 -12.6 -19.1 -22.4 -27.2 -15.7 40

41 Nonfinancial corporate business 1.8 -6.9 -3.4 -6.3 -14.6 -13.9 -6.0 -5.8 -18.6 -39.1 41

42 Financial business 2.7 3.2 2.9 2.7 2.7 3.0 3.9 5.3 4.5 2.8 42

43 Federal government -13.9 -18.0 -30.0 -22.7 -12.5 -39.0 -50.5 -48.1 -35.3 -39.1 43

44 State and local government -7.2 -7.4 -9.5 -9.8 -9.2 -10.3 -12.5 -4.0 -3.9 -12.6 44

 Addendum:

45 Statistical discrepancy (NIPA) 0.8 5.1 3.4 3.2 1.6 5.4 9.5 7.1 6.1 7.4 45

46 Rest of the world -6.2 -3.8 -3.5 -1.5 -1.6 -3.7 -0.3 4.1 -8.8 -5.9 46

47 Net lending (+) or net borrowing (-) (financial account) 9.3 9.0 9.0 2.8 3.8 5.8 -4.0 9.2 20.7 -9.3 47

48 Households and nonprofit institutions serving households 46.3 61.0 58.2 69.8 69.9 96.9 94.8 91.7 124.5 113.9 48

49 Nonfinancial noncorporate business -12.1 -10.9 -9.9 -12.2 -14.1 -12.4 -18.7 -21.8 -26.5 -15.0 49

50 Nonfinancial corporate business -8.0 -21.1 -12.6 -16.6 -23.8 -25.5 -15.9 -7.4 -49.1 -50.4 50

51 Financial business 2.8 3.2 11.9 -3.2 -1.8 -1.0 2.7 0.5 8.9 -1.1 51

52 Federal government -13.8 -16.1 -29.5 -25.8 -13.2 -36.9 -49.8 -46.4 -34.7 -39.7 52

53 State and local government -5.8 -7.1 -9.1 -9.2 -13.1 -15.4 -17.1 -7.4 -2.3 -17.0 53

 Addendum:

54 Rest of the world -4.6 -2.9 -2.0 -0.6 7.6 0.3 14.1 6.5 -10.1 -4.2 54

 Total other volume changes

55 Households and nonprofit institutions serving households 28.2 41.7 22.6 44.9 42.1 47.6 46.7 60.4 29.4 36.5 55

56 Nonfinancial noncorporate business 3.8 3.5 0.9 3.2 0.1 -0.3 1.7 -5.2 -6.5 -27.8 56

57 Nonfinancial corporate business -11.1 -7.3 -7.9 -8.3 -2.5 -6.1 -7.1 -7.5 8.5 110.3 57

58 Financial business -3.6 4.5 2.9 -10.8 3.8 3.2 -11.3 -8.3 34.6 23.1 58

59 Federal government -1.3 -0.2 6.7 -1.7 1.1 -3.6 3.5 4.5 3.4 4.7 59

60 State and local government 0.2 -2.2 1.7 -2.9 -7.3 -1.9 -11.9 -11.4 16.5 -13.0 60

61 Rest of the world 1.6 0.8 1.5 0.9 4.3 4.0 14.9 4.3 -1.2 1.7 61

 Holding gains/losses

62 Households and nonprofit institutions serving households 114.9 0.3 208.3 278.3 -46.1 67.2 255.0 415.3 56.8 -58.5 62

63 Nonfinancial noncorporate business 23.1 30.0 23.7 41.9 34.8 31.7 64.6 86.4 141.6 140.0 63

64 Nonfinancial corporate business -56.8 98.3 -135.8 -90.1 195.0 68.6 -43.4 -122.3 330.0 497.3 64

65 Financial business -5.4 -8.0 -0.1 -19.5 12.4 4.2 -0.7 2.0 21.0 28.1 65

66 Federal government 4.7 7.0 11.1 12.8 18.4 24.1 22.9 32.2 41.2 67.0 66

67 State and local government 8.7 13.9 11.7 18.9 31.0 43.2 32.6 35.1 69.7 162.2 67

68 Rest of the world -5.9 0.3 8.4 -2.8 -6.9 -4.1 -1.0 -11.8 2.6 -11.2 68
Inte

g

r

ate

d

A

c

c

o

u

nts

138 Historical Annuals, 1965-1974, March 10, 2016

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

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Change in net worth

69 Households and nonprofit institutions serving households 197.8 99.5 299.1 391.1 66.4 206.2 405.9 578.0 211.3 113.4 69

70 Nonfinancial noncorporate business 26.9 33.5 24.7 45.1 35.0 31.3 66.3 81.2 135.1 112.2 70

71 Nonfinancial corporate business -34.4 127.6 -109.0 -65.2 221.2 84.0 -20.3 -90.2 382.6 638.3 71

72 Financial business -4.4 1.5 7.7 -24.7 21.7 13.2 -4.7 2.3 65.2 60.5 72

73 Federal government -3.2 -1.4 -2.9 -5.4 12.1 -15.8 -25.8 -12.9 6.0 28.0 73

74 State and local government 17.7 22.1 23.2 27.1 34.6 50.5 28.3 39.4 103.2 160.7 74

75 Rest of the world -10.5 -2.8 6.4 -3.4 -4.2 -3.8 13.6 -3.4 -7.4 -15.4 75

 Net worth

76 Households and nonprofit institutions serving households 2785.8 2885.3 3184.4 3575.5 3642.0 3848.1 4254.1 4832.1 5043.4 5156.9 76

77 Nonfinancial noncorporate business 485.0 518.5 543.2 588.3 623.3 654.6 720.9 802.1 937.2 1049.3 77

78 Nonfinancial corporate business 63.3 190.9 82.0 16.8 238.0 322.0 301.8 211.5 594.2 1232.5 78

79 Financial business -4.7 -3.2 4.5 -20.2 1.5 14.7 10.0 12.3 77.6 138.0 79

80 Federal government -151.5 -153.0 -155.8 -161.3 -149.2 -165.0 -190.8 -203.7 -197.6 -169.7 80

81 State and local government 196.5 218.6 241.8 269.0 303.5 354.0 382.3 421.8 524.9 685.6 81

82 Rest of the world -47.0 -49.8 -43.4 -46.8 -51.0 -54.8 -41.2 -44.6 -52.0 -67.4 82
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 139

S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Gross value added 63.0 68.0 73.4 79.4 87.6 95.2 105.2 114.8 125.6 138.3 1

 2 Less: Consumption of fixed capital 10.7 11.5 12.4 13.6 15.2 16.5 18.2 20.3 23.3 27.0 2

 3 Equals: Net value added 52.3 56.5 61.0 65.7 72.4 78.7 87.0 94.5 102.3 111.3 3

 4 Compensation paid by households and NPISHs 19.3 21.3 23.4 26.1 29.5 32.4 35.6 38.9 43.0 47.1 4

 5 Wages and salaries 18.3 20.1 22.0 24.6 27.7 30.3 33.1 35.9 39.3 42.9 5

 6 Employers’ social contributions 1.0 1.2 1.4 1.5 1.8 2.1 2.5 3.0 3.7 4.3 6

 7 Taxes on production and imports less subsidies 8.8 9.5 10.6 12.0 13.4 15.2 16.7 18.1 19.5 20.8 7

 8 Operating surplus, net 24.2 25.7 26.9 27.7 29.5 31.1 34.6 37.5 39.7 43.3 8

 9 Net national income/Balance of primary incomes, net 548.1 601.6 641.4 701.1 768.1 821.1 878.7 966.9 1081.8 1179.8 9

10 Operating surplus, net 24.2 25.7 26.9 27.7 29.5 31.1 34.6 37.5 39.7 43.3 10

11 Compensation of employees (received) 406.3 450.3 482.9 532.1 586.0 625.1 667.0 733.6 815.0 890.3 11

12 Wages and salaries 363.8 400.3 429.0 472.0 518.3 551.6 584.5 638.8 708.8 772.3 12

13 Employers’ social contributions 42.6 50.0 53.9 60.1 67.7 73.6 82.5 94.9 106.3 118.0 13

14 Property income (received) 138.4 148.1 155.3 167.2 181.7 196.7 212.6 235.8 271.8 296.1 14

15 Interest 48.6 53.5 58.4 63.8 74.5 88.4 97.4 106.6 120.9 142.3 15

16 Distributed income of corporations 89.8 94.6 96.9 103.4 107.2 108.3 115.2 129.3 151.0 153.8 16

17 Dividends 20.2 20.7 21.5 23.5 24.2 24.3 25.0 26.8 29.9 33.2 17

18 Withdrawals from income of quasi-corporations (1) 69.6 73.9 75.4 79.8 83.0 84.0 90.2 102.5 121.1 120.6 18

19 Less: Uses of property income (interest paid) 20.9 22.5 23.7 25.8 29.1 31.9 35.6 40.1 44.9 49.9 19

20 Net national income/Balance of primary incomes, net 548.1 601.6 641.4 701.1 768.1 821.1 878.7 966.9 1081.8 1179.8 20

21 Less: Current taxes on income, wealth, etc. (paid) 57.7 66.4 73.0 87.0 104.5 103.1 101.7 123.6 132.4 151.0 21

22 Plus: Social benefits (received) 33.9 37.5 45.8 53.3 59.0 71.7 85.4 94.8 108.6 128.6 22

23 Less: Social contributions (paid) 23.4 31.3 34.9 38.7 44.1 46.4 51.2 59.2 75.5 85.2 23

24 Plus: Other current transfers (received) 2.3 2.1 2.3 2.8 3.3 2.9 2.7 3.1 3.9 4.7 24

25 Less: Other current transfers (paid) 1.3 1.6 2.0 2.0 2.2 2.5 2.9 3.3 3.5 3.1 25

26 Equals: Disposable income, net 501.9 542.0 579.6 629.5 679.5 743.7 811.1 878.6 982.9 1073.7 26

27 Less: Final consumption expenditures 443.6 480.6 507.4 557.5 604.5 647.7 701.0 769.4 851.1 932.0 27

28 Equals: Net saving 58.3 61.4 72.2 72.1 75.0 96.1 110.1 109.2 131.8 141.7 28

 Capital account

29 Net saving less capital transfers 54.7 57.5 68.2 68.0 70.4 91.3 104.3 102.4 125.2 135.4 29

30 Net saving 58.3 61.4 72.2 72.1 75.0 96.1 110.1 109.2 131.8 141.7 30

31 Less: Capital transfers paid (net) 3.6 3.9 4.0 4.1 4.6 4.8 5.8 6.8 6.6 6.3 31

32 Capital formation, net 20.4 18.6 18.2 21.1 22.5 20.2 29.2 38.6 42.0 33.2 32

33 Gross fixed capital formation, excluding consumer durables 32.1 31.2 31.7 35.9 38.5 37.5 48.7 60.2 66.7 61.7 33

34 Residential 26.2 25.0 25.5 29.4 31.1 29.7 40.0 49.5 55.4 50.5 34

35 Nonresidential (nonprofit organizations) 5.9 6.2 6.2 6.4 7.4 7.8 8.6 10.7 11.3 11.2 35

36 Less: Consumption of fixed capital 10.7 11.5 12.4 13.6 15.2 16.5 18.2 20.3 23.3 27.0 36

37 Acquisition of nonproduced nonfinancial assets -1.0 -1.1 -1.1 -1.1 -0.8 -0.8 -1.2 -1.3 -1.3 -1.4 37

38 Net lending (+) or borrowing (-), capital account (lines 29-32) 34.2 38.9 50.1 46.9 47.9 71.1 75.1 63.8 83.2 102.2 38

 Financial account

39 Net lending (+) or borrowing (-) (line 38) 34.2 38.9 50.1 46.9 47.9 71.1 75.1 63.8 83.2 102.2 39

40 Net acquisition of financial assets 75.7 83.9 93.2 94.8 99.0 115.9 140.2 153.1 189.9 169.9 40

41 Currency and deposits 34.1 20.3 45.3 39.2 6.8 49.9 81.0 87.0 72.7 60.6 41

42 Currency and transferable deposits 6.7 1.9 10.2 9.0 -1.8 7.6 13.5 13.7 12.1 5.2 42

43 Time and savings deposits 27.5 18.6 35.2 30.2 8.6 42.2 67.5 73.3 60.6 55.4 43

44 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

45 Postal savings system deposits -0.1 -0.2 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Debt securities 3.3 18.0 3.2 5.9 37.3 0.2 -6.5 -4.1 24.9 38.9 46

47 Open market paper 0.9 2.3 1.8 2.0 6.4 -2.0 -2.8 -4.4 4.8 5.9 47

48 Treasury securities 1.2 4.3 -0.1 2.7 11.4 -10.1 -8.8 3.2 11.1 6.6 48

49 Agency- and GSE-backed securities (2) 0.9 4.7 0.4 -0.1 5.2 4.6 -1.3 -5.7 -0.6 6.4 49

50 Municipal securities 1.7 4.6 -3.0 -1.6 10.8 -0.1 -1.2 1.7 6.6 7.1 50

51 Corporate and foreign bonds -1.3 2.1 4.0 2.9 3.6 7.7 7.6 1.1 3.0 12.9 51

52 Loans 1.0 1.9 4.4 5.0 -0.5 3.1 -3.4 0.0 0.8 3.2 52

53 Short term 0.5 0.2 2.2 2.7 -2.2 0.9 0.0 -1.0 0.9 -0.1 53

54 Long term (mortgages) 0.5 1.7 2.1 2.3 1.7 2.2 -3.4 1.0 -0.0 3.4 54
Inte

g

r

ate

d

A

c

c

o

u

nts

140 Historical Annuals, 1965-1974, March 10, 2016

S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

55 Equity and investment fund shares -4.7 -4.1 -11.7 -14.4 -14.4 -3.7 -3.9 -16.7 4.1 -27.2 55

56 Corporate equities -10.6 -9.8 -13.6 -19.7 -17.2 -4.4 -6.0 -10.4 -3.7 -1.2 56

57 Mutual fund shares 2.1 2.2 0.9 2.2 2.7 1.1 0.3 -1.4 -2.2 -1.4 57

58 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 58

59 Equity in noncorporate business 3.8 3.5 0.9 3.2 0.1 -0.4 1.8 -4.9 10.1 -27.0 59

60 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 60

61 Insurance, pension and standardized guarantee schemes 41.9 47.9 52.1 59.0 69.8 66.4 73.0 87.0 87.4 94.3 61

62 Insurance receivables due from property-casualty insurance companies 0.7 0.7 0.8 0.9 1.2 1.4 1.2 1.4 1.4 1.2 62

63 Life insurance reserves 4.8 4.7 5.2 4.8 5.0 5.3 6.4 6.9 7.3 7.1 63

64 Pension entitlements (4) 35.7 41.6 45.2 52.3 62.5 58.3 64.1 77.2 77.0 84.3 64

65 Non-life insurance reserves at life insurance companies 0.7 0.9 0.9 1.0 1.1 1.3 1.3 1.5 1.7 1.7 65

66 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 66

67 Net incurrence of liabilities 29.4 22.9 35.0 25.0 29.1 18.9 45.4 61.4 65.4 56.0 67

68 Debt securities (municipals) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.9 68

69 Loans 28.7 22.2 34.1 24.1 28.1 17.9 44.2 60.0 63.9 53.3 69

70 Short term 10.9 8.5 17.7 8.7 9.6 5.7 19.6 25.2 23.8 15.4 70

71 Consumer credit 10.1 5.9 5.1 10.8 9.9 4.4 15.6 19.5 22.5 8.9 71

72 Depository institution loans n.e.c. -0.4 0.7 8.0 -6.6 0.3 -0.1 0.1 0.6 3.3 4.8 72

73 Other loans and advances 1.2 1.9 4.5 4.6 -0.5 1.3 3.9 5.1 -1.9 1.6 73

74 Long term (mortgages) 17.8 13.7 16.3 15.4 18.4 12.2 24.6 34.9 40.1 37.9 74

75 Insurance, pension and standardized guarantee schemes 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.4 0.7 75

76 Other accounts payable (trade debt) 0.4 0.4 0.6 0.6 0.7 0.6 0.9 0.8 0.7 1.2 76

 Addendum:

77 Net lending (+) or borrowing (-), financial account (lines 40-67) 46.3 61.0 58.2 69.8 69.9 96.9 94.8 91.7 124.5 113.9 77

 Other changes in volume account

78 Total other volume changes 28.2 41.7 22.6 44.9 42.1 47.6 46.7 60.4 29.4 36.5 78

79 Net investment in consumer durable goods 15.9 17.9 16.0 20.9 19.5 14.3 19.9 26.1 32.1 21.4 79

80 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 -0.6 -0.2 -0.1 80

81 Other volume changes 0.2 1.7 -1.6 1.1 0.6 7.6 7.1 7.0 -43.8 3.6 81

82 Less: Statistical discrepancy (lines 38-77) (5) -12.1 -22.1 -8.2 -22.9 -22.0 -25.8 -19.7 -27.9 -41.3 -11.7 82

 Revaluation account

83 Nonfinancial assets 9.9 37.6 33.3 85.5 66.5 46.6 79.1 132.7 155.5 66.5 83

84 Real estate 13.4 33.7 26.8 76.0 58.1 36.0 75.1 127.2 142.6 14.1 84

85 Consumer durable goods -3.5 3.8 6.4 9.3 8.2 10.3 3.8 5.5 12.5 50.2 85

86 Equipment -0.0 0.1 0.1 0.2 0.2 0.2 0.1 -0.1 0.2 1.7 86

87 Intellectual property products -0.0 -0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.3 0.4 87

88 Financial assets 105.0 -37.3 175.0 192.8 -112.6 20.6 175.9 282.5 -98.7 -125.0 88

89 Corporate equities 82.5 -58.0 147.5 153.0 -130.8 -12.8 99.5 188.0 -223.8 -247.6 89

90 Mutual fund shares 3.9 -2.8 8.2 4.4 -6.6 -2.1 8.2 4.8 -10.5 -10.5 90

91 Equity in noncorporate business 23.1 30.0 23.7 41.9 34.8 31.7 64.5 86.4 141.9 140.0 91

92 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 92

93 Insurance, pension and standardized guarantee schemes -4.5 -6.5 -4.4 -6.5 -10.0 3.9 3.7 3.3 -6.3 -6.8 93

94 Changes in net worth due to nominal holding gains/losses 114.9 0.3 208.3 278.3 -46.1 67.2 255.0 415.3 56.8 -58.5 94

 Changes in balance sheet account

95 Change in net worth (lines 32+38+78+94) 197.8 99.5 299.1 391.1 66.4 206.2 405.9 578.0 211.3 113.4 95

 Balance sheet account (end of period)

96 Total assets 3138.6 3261.3 3595.3 4011.7 4105.8 4326.9 4778.2 5417.5 5695.4 5864.7 96

97 Nonfinancial assets 930.9 1006.0 1074.4 1200.8 1308.6 1390.7 1517.9 1714.2 1943.2 2064.4 97

98 Real estate 696.3 748.9 794.2 889.6 968.7 1025.2 1127.7 1290.7 1472.6 1517.7 98

99 Consumer durable goods 227.9 249.5 271.9 302.1 329.7 354.3 377.9 409.5 454.0 525.7 99

100 Equipment 5.3 5.8 6.3 6.9 7.6 8.4 9.1 10.6 12.5 16.4 100

101 Intellectual property products 1.5 1.7 2.0 2.3 2.6 2.9 3.1 3.5 4.0 4.6 101

102 Financial assets 2207.7 2255.4 2520.8 2810.9 2797.2 2936.2 3260.3 3703.3 3752.3 3800.3 102

103 Currency and deposits 380.4 400.7 446.1 485.3 492.2 542.1 623.1 708.6 777.4 838.4 103

104 Currency and transferable deposits 91.6 93.5 103.8 112.7 110.9 118.6 132.1 144.4 152.5 157.4 104

105 Foreign deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 105

106 Time and savings deposits 288.5 307.1 342.3 372.5 381.3 423.5 491.0 564.2 624.9 681.0 106

107 Postal savings system deposits 0.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 107
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 141

S.3.a Households and Nonprofit Institutions Serving Households

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

108 Debt securities 127.5 145.5 148.7 154.5 192.3 192.4 185.9 181.8 207.5 249.0 108

109 Open market paper 6.0 8.3 10.1 12.2 18.5 16.6 13.8 9.3 14.1 22.5 109

110 Treasury securities 74.8 79.1 79.0 81.7 93.2 83.0 74.2 77.4 88.5 96.3 110

111 Agency- and GSE-backed securities (2) 1.1 5.9 6.3 6.1 11.3 15.9 14.6 8.9 8.3 13.7 111

112 Municipal securities 36.5 41.2 38.2 36.5 47.2 47.1 46.0 47.7 55.1 62.2 112

113 Corporate and foreign bonds 9.0 11.1 15.1 18.0 22.0 29.7 37.4 38.5 41.5 54.4 113

114 Loans 42.3 44.6 48.8 54.0 51.9 53.7 50.9 51.0 50.8 54.0 114

115 Short term -0.3 -0.1 2.2 4.9 2.7 3.6 3.6 2.7 3.6 3.4 115

116 Long term (mortgages) 42.6 44.6 46.6 49.1 49.2 50.1 47.3 48.3 47.2 50.6 116

117 Equity and investment fund shares 1135.5 1100.7 1268.3 1453.2 1336.2 1349.3 1517.6 1779.8 1675.7 1530.3 117

118 Corporate equities 616.1 548.3 682.1 815.3 667.4 650.2 743.7 921.4 693.9 445.0 118

119 Mutual fund shares 34.4 33.9 43.0 49.5 45.6 44.5 53.0 56.4 43.7 31.8 119

120 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 120

121 Equity in noncorporate business 485.0 518.5 543.2 588.3 623.3 654.6 720.9 802.1 938.1 1051.0 121

122 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 Insurance, pension and standardized guarantee schemes 521.9 564.0 609.0 664.0 724.6 798.7 882.7 982.1 1040.9 1128.6 123

124 Insurance receivables due from property-casualty insurance companies 8.2 8.9 9.7 10.7 11.8 13.2 14.5 15.9 17.3 18.5 124

125 Life insurance reserves 105.9 110.6 115.5 120.3 125.4 130.7 137.1 143.9 151.3 158.4 125

126 Pension entitlements (4) 397.9 433.6 471.8 520.1 573.5 639.5 714.6 804.2 852.6 930.2 126

127 Non-life insurance reserves at life insurance companies 10.0 10.8 11.9 12.9 14.0 15.3 16.6 18.1 19.8 21.5 127

128 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 128

129 Total liabilities and net worth 3138.6 3261.3 3595.3 4011.7 4105.8 4326.9 4778.2 5417.5 5695.4 5864.7 129

130 Liabilities 352.8 376.0 410.9 436.1 463.8 478.7 524.1 585.4 652.0 707.8 130

131 Debt securities (municipals) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 1.3 131

132 Loans 345.9 368.4 402.3 426.7 453.3 467.2 511.3 571.3 636.3 689.4 132

133 Short term 118.2 126.7 144.4 153.5 163.6 169.2 189.4 214.5 240.2 255.6 133

134 Consumer credit 97.5 103.4 108.6 119.3 129.2 133.7 149.2 168.8 193.0 201.9 134

135 Depository institution loans n.e.c. 4.7 5.4 13.4 6.8 7.6 7.5 8.1 8.6 11.9 16.7 135

136 Other loans and advances 16.0 17.9 22.4 27.3 26.8 28.1 32.0 37.1 35.3 37.0 136

137 Long term (mortgages) 227.7 241.7 257.9 273.2 289.7 297.9 321.9 356.8 396.1 433.8 137

138 Insurance, pension and standardized guarantee schemes 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 138

139 Other accounts payable (trade debt) 3.6 4.0 4.6 5.2 5.8 6.5 7.3 8.2 8.9 10.1 139

140 Net worth 2785.8 2885.3 3184.4 3575.5 3642.0 3848.1 4254.1 4832.1 5043.4 5156.9 140

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

NPISHs Nonprofit institutions serving households

n.e.c. Not elsewhere classified
Inte

g

r

ate

d

A

c

c

o

u

nts

142 Historical Annuals, 1965-1974, March 10, 2016

S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Gross value added 140.7 149.0 153.7 161.7 170.3 177.3 188.7 206.5 241.4 256.7 1

 2 Less: Consumption of fixed capital 13.5 14.5 15.4 16.6 18.1 19.5 21.3 23.1 25.5 29.3 2

 3 Equals: Net value added 127.2 134.5 138.3 145.1 152.2 157.8 167.5 183.4 215.8 227.3 3

 4 Compensation of employees (paid) 41.9 44.4 45.2 46.8 48.6 50.0 50.5 52.6 59.4 63.8 4

 5 Wages and salaries 39.0 41.1 41.7 43.1 44.7 45.9 46.1 47.7 53.6 57.4 5

 6 Employers’ social contributions 3.0 3.4 3.5 3.7 3.9 4.2 4.4 4.9 5.8 6.4 6

 7 Taxes on production and imports less subsidies 10.7 10.5 11.6 11.9 12.5 13.9 15.6 15.3 17.9 21.5 7

 8 Operating surplus, net 74.7 79.6 81.5 86.4 91.1 93.8 101.4 115.4 138.6 142.0 8

 9 Net national income/Balance of primary incomes, net 0.4 0.5 0.5 0.5 0.5 0.6 0.6 0.7 0.8 0.8 9

10 Operating surplus, net 74.7 79.6 81.5 86.4 91.1 93.8 101.4 115.4 138.6 142.0 10

11 Property income (interest received) 0.7 0.8 0.8 0.9 1.1 1.4 1.6 1.7 1.5 1.7 11

12 Less: Uses of property income (paid) 75.0 79.9 81.8 86.8 91.7 94.6 102.3 116.5 139.2 143.0 12

13 Interest 7.8 8.6 9.3 10.2 11.7 13.6 15.7 18.1 21.4 25.6 13

14 Withdrawals from income of quasi-corporations (1) 67.1 71.3 72.5 76.6 79.9 81.0 86.6 98.4 117.8 117.4 14

15 Reinvested earnings on foreign direct investment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

16 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Net national income/Balance of primary incomes, net 0.4 0.5 0.5 0.5 0.5 0.6 0.6 0.7 0.8 0.8 17

18 Less: Other current transfers (paid) 0.4 0.5 0.5 0.5 0.5 0.6 0.6 0.7 0.8 0.8 18

19 Equals: Disposable income, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

20 Equals: Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 Capital account

21 Net saving less capital transfers 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Net saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

24 Capital formation, net 12.3 11.1 10.0 12.4 14.4 12.6 19.1 22.4 27.2 15.7 24

25 Gross fixed capital formation 23.2 23.9 23.4 26.7 31.2 32.6 37.8 44.0 49.3 45.6 25

26 Nonresidential 15.3 16.4 16.1 16.4 18.5 19.5 20.5 22.1 27.4 27.5 26

27 Residential 7.9 7.5 7.3 10.3 12.7 13.1 17.3 21.9 21.9 18.1 27

28 Less: Consumption of fixed capital 13.5 14.5 15.4 16.6 18.1 19.5 21.3 23.1 25.5 29.3 28

29 Change in private inventories 2.5 1.6 2.1 2.4 1.2 -0.4 2.5 1.5 3.4 -0.7 29

30 Net lending (+) or borrowing (-), capital account (lines 21-24) -12.3 -11.1 -10.0 -12.4 -14.4 -12.6 -19.1 -22.4 -27.2 -15.7 30

 Financial account

31 Net lending (+) or borrowing (-) (line 30) -12.3 -11.1 -10.0 -12.4 -14.4 -12.6 -19.1 -22.4 -27.2 -15.7 31

32 Net acquisition of financial assets 0.6 1.1 1.3 -0.2 2.0 1.9 9.8 10.0 9.1 4.7 32

33 Currency and deposits 0.1 -0.0 0.1 0.2 0.1 1.5 1.7 1.9 2.2 1.7 33

34 Currency and transferable deposits 0.1 -0.0 0.1 0.2 0.1 0.1 0.1 0.3 0.6 0.1 34

35 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 1.4 1.6 1.6 1.6 1.6 35

36 Debt securities 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.2 0.1 0.1 36

37 Treasury securities 0.0 0.0 0.1 0.2 0.2 0.2 0.2 0.2 0.1 0.1 37

38 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

39 Loans 0.3 -0.1 -0.1 -0.0 0.2 0.5 1.1 1.0 0.1 -0.2 39

40 Short term (consumer credit) 0.3 -0.1 -0.1 -0.0 -0.1 0.1 -0.1 -0.1 -0.2 -0.4 40

41 Long term (mortgages) 0.0 0.0 0.0 0.0 0.3 0.4 1.2 1.1 0.3 0.1 41

42 Equity and investment fund shares 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 42

43 Money market mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

44 Equity in government-sponsored enterprises (2) 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 44

45 Insurance, pension and standardized guarantee schemes (3) 0.4 0.5 0.6 0.7 1.0 1.1 1.3 1.5 1.4 1.5 45

46 Other accounts receivable -0.2 0.6 0.5 -1.4 0.5 -1.5 5.5 5.2 5.1 1.6 46

47 Trade receivables -0.2 0.6 0.5 -1.4 0.5 -1.5 1.5 0.6 2.3 2.2 47

48 Other (miscellaneous assets) 0.0 0.0 0.0 0.0 0.0 0.0 4.0 4.6 2.8 -0.7 48

49 Net incurrence of liabilities 12.8 12.0 11.2 12.0 16.1 14.2 28.5 31.7 35.6 19.7 49

50 Loans 9.3 9.7 10.3 11.0 15.3 6.7 22.6 31.4 17.9 37.1 50

51 Short term 2.4 3.2 2.5 2.3 4.3 1.9 3.4 4.0 11.4 11.9 51

52 Depository institution loans n.e.c. 1.6 2.3 1.4 1.5 2.7 0.4 2.2 2.8 7.7 8.3 52

53 Other loans and advances 0.8 0.9 1.2 0.8 1.6 1.5 1.2 1.2 3.7 3.6 53

54 Long term (mortgages) 7.0 6.5 7.8 8.7 11.0 4.7 19.2 27.4 6.6 25.2 54
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 143

S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

55 Equity and investment fund shares 3.8 3.5 1.0 3.2 0.2 -0.3 1.8 -4.9 9.5 -27.6 55

56 Equity in noncorporate business 3.8 3.5 0.9 3.2 0.1 -0.4 1.8 -4.9 9.4 -27.8 56

57 Foreign direct investment in the United States 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 57

58 Other accounts payable -0.3 -1.2 -0.1 -2.1 0.6 7.9 4.1 5.3 8.1 10.2 58

59 Trade payables -0.3 -1.2 -0.1 -2.1 0.6 -0.7 0.2 1.1 3.4 3.1 59

60 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.5 1.5 1.6 60

61 Other (miscellaneous liabilities) 0.0 0.0 0.0 0.0 0.0 8.6 2.9 2.7 3.3 5.6 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 32-49) -12.1 -10.9 -9.9 -12.2 -14.1 -12.4 -18.7 -21.8 -26.5 -15.0 62

 Other changes in volume account

63 Total other volume changes 3.8 3.5 0.9 3.2 0.1 -0.3 1.7 -5.2 -6.5 -27.8 63

64 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.3 -0.3 -0.0 64

65 Other volume changes 3.8 3.5 0.9 3.2 0.1 -0.3 1.8 -4.9 -6.3 -27.8 65

 Revaluation account

66 Nonfinancial assets 23.1 30.0 23.7 41.9 34.8 31.7 64.6 86.4 141.6 140.0 66

67 Real estate 20.0 27.9 22.9 37.5 28.5 27.5 56.3 73.8 121.3 125.1 67

68 Residential 6.6 15.1 10.1 22.3 14.6 11.2 28.3 36.2 49.0 58.8 68

69 Nonresidential 13.4 12.7 12.9 15.2 13.9 16.3 28.0 37.6 72.3 66.3 69

70 Equipment 0.9 2.4 2.4 3.1 3.4 4.4 3.7 3.1 5.9 19.0 70

71 Residential -0.1 -0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.1 0.7 71

72 Nonresidential 1.0 2.4 2.4 3.0 3.4 4.3 3.7 3.1 5.8 18.2 72

73 Intellectual property products 0.3 0.2 0.4 0.3 0.5 0.5 0.2 0.3 0.3 0.7 73

74 Inventories 1.9 -0.5 -2.0 1.0 2.4 -0.7 4.4 9.2 14.1 -4.8 74

75 Liabilities (direct investment in the U.S.) 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 -0.0 75

76 Changes in net worth due to nominal holding gains/losses 23.1 30.0 23.7 41.9 34.8 31.7 64.6 86.4 141.6 140.0 76

 Changes in balance sheet account

77 Change in net worth (lines 24+30+63+76) 26.9 33.5 24.7 45.1 35.0 31.3 66.3 81.2 135.1 112.2 77

 Balance sheet account (end of period)

78 Total assets 593.6 635.6 670.5 724.5 775.4 821.3 914.4 1032.3 1213.2 1372.9 78

79 Nonfinancial assets 556.9 597.8 631.5 685.7 734.6 778.6 861.9 969.8 1137.6 1292.6 79

80 Real estate 458.5 493.6 523.0 569.3 609.0 648.1 719.6 812.0 952.7 1092.7 80

81 Residential (4) 215.2 234.1 247.4 275.6 297.8 316.6 356.0 406.7 469.2 536.6 81

82 Nonresidential 243.2 259.5 275.5 293.7 311.2 331.5 363.7 405.4 483.6 556.1 82

83 Equipment 52.4 56.8 60.6 64.8 70.0 75.7 80.4 85.1 94.5 114.5 83

84 Residential 2.7 2.8 3.0 3.4 3.8 4.2 4.6 5.2 5.9 7.3 84

85 Nonresidential 49.7 54.0 57.6 61.5 66.2 71.5 75.8 79.8 88.6 107.2 85

86 Intellectual property products 6.5 6.7 7.0 7.3 7.8 8.1 8.2 8.3 8.5 9.0 86

87 Inventories 39.6 40.7 40.8 44.2 47.9 46.8 53.6 64.4 81.9 76.5 87

88 Financial assets 36.7 37.7 39.0 38.8 40.8 42.7 52.5 62.5 75.6 80.3 88

89 Currency and deposits 18.2 18.2 18.3 18.5 18.6 20.1 21.8 23.7 29.9 31.5 89

90 Currency and transferable deposits 18.2 18.2 18.3 18.5 18.6 18.7 18.8 19.1 23.7 23.7 90

91 Time and savings deposits 0.0 0.0 0.0 0.0 0.0 1.4 3.0 4.6 6.2 7.8 91

92 Debt securities 0.0 0.0 0.1 0.3 0.5 0.7 0.9 1.1 1.2 1.2 92

93 Treasury securities 0.0 0.0 0.1 0.3 0.5 0.7 0.9 1.1 1.2 1.2 93

94 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 94

95 Loans 4.0 4.0 3.9 3.9 4.0 4.5 5.6 6.6 6.7 6.5 95

96 Short term (consumer credit) 4.0 4.0 3.9 3.9 3.7 3.8 3.7 3.6 3.4 3.1 96

97 Long term (mortgages) 0.0 0.0 0.0 0.0 0.3 0.7 1.9 3.0 3.3 3.4 97

98 Equity and investment fund shares 0.4 0.5 0.5 0.6 0.7 0.8 0.8 0.9 1.1 1.3 98

99 Money market mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 99

100 Equity in government-sponsored enterprises (2) 0.4 0.5 0.5 0.6 0.7 0.8 0.8 0.9 1.1 1.3 100

101 Insurance, pension and standardized guarantee schemes (3) 6.1 6.6 7.2 7.9 8.9 10.0 11.2 12.8 14.2 15.7 101

102 Other accounts receivable 7.9 8.5 9.0 7.7 8.1 6.6 12.1 17.4 22.5 24.1 102

103 Trade receivables 7.9 8.5 9.0 7.7 8.1 6.6 8.1 8.8 11.1 13.3 103

104 Other (miscellaneous assets) 0.0 0.0 0.0 0.0 0.0 0.0 4.0 8.6 11.4 10.8 104
Inte

g

r

ate

d

A

c

c

o

u

nts

144 Historical Annuals, 1965-1974, March 10, 2016

S.4.a Nonfinancial Noncorporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

105 Total liabilities and net worth 593.6 635.6 670.5 724.5 775.4 821.3 914.4 1032.3 1213.2 1372.9 105

106 Liabilities 108.5 117.0 127.3 136.2 152.2 166.7 193.5 230.2 276.0 323.5 106

107 Loans 95.6 105.3 115.6 126.6 141.9 148.6 171.2 202.6 230.1 267.2 107

108 Short term 24.7 27.9 30.4 32.7 37.0 38.9 42.3 46.2 67.2 79.1 108

109 Depository institution loans n.e.c. 14.0 16.3 17.7 19.1 21.9 22.3 24.5 27.2 44.9 53.2 109

110 Other loans and advances 10.7 11.6 12.8 13.6 15.1 16.6 17.8 19.0 22.3 25.9 110

111 Long term (mortgages) 70.9 77.4 85.2 93.9 104.9 109.6 128.9 156.3 162.9 188.1 111

112 Equity and investment fund shares (direct investment in the U.S.) 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.6 112

113 Other accounts payable 12.8 11.5 11.5 9.4 10.0 17.9 22.0 27.3 45.5 55.7 113

114 Trade payables 12.8 11.5 11.5 9.4 10.0 9.3 9.5 10.7 24.0 27.1 114

115 Taxes payable 0.0 0.0 0.0 0.0 0.0 0.0 1.0 2.5 4.0 5.5 115

116 Other (miscellaneous liabilities) 0.0 0.0 0.0 0.0 0.0 8.6 11.5 14.2 17.4 23.0 116

117 Net worth 485.0 518.5 543.2 588.3 623.3 654.6 720.9 802.1 937.2 1049.3 117

Notes. Nonfinancial noncorporate business includes noncorporate farms that are excluded from the nonfinancial noncorporate business sector in the Financial Accounts of the United States.

 Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Net equity in reserves of property-casualty insurance companies.

(4) Farm houses are included in the household sector.

n.e.c. Not elsewhere classified
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 145

S.5.a Nonfinancial Corporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Gross value added 400.7 440.1 463.2 510.9 554.6 572.8 618.0 685.9 768.8 830.1 1

 2 Less: Consumption of fixed capital 35.8 39.4 43.5 48.1 53.5 59.3 64.7 70.2 78.2 91.4 2

 3 Equals: Net value added 364.9 400.7 419.7 462.8 501.1 513.6 553.3 615.8 690.7 738.7 3

 4 Compensation of employees (paid) 245.4 272.9 291.1 320.9 356.1 374.5 396.2 439.9 495.1 542.9 4

 5 Wages and salaries 222.2 245.2 261.6 288.1 318.8 334.9 353.5 389.9 437.3 478.5 5

 6 Employers’ social contributions 23.2 27.6 29.4 32.7 37.2 39.5 42.7 50.0 57.8 64.4 6

 7 Taxes on production and imports less subsidies 36.0 37.0 39.3 45.5 50.2 54.2 59.5 63.7 70.1 74.4 7

 8 Operating surplus, net 83.5 90.9 89.3 96.4 94.9 84.8 97.6 112.2 125.5 121.3 8

 9 Net national income/Balance of primary incomes, net 62.7 68.6 65.1 69.5 65.0 51.8 63.7 77.0 88.8 77.0 9

10 Operating surplus, net 83.5 90.9 89.3 96.4 94.9 84.8 97.6 112.2 125.5 121.3 10

11 Property income (received) 11.4 12.2 13.2 15.6 19.1 21.9 23.7 27.6 39.5 51.9 11

12 Interest 4.8 5.4 6.1 7.5 10.0 12.1 12.8 14.2 18.4 24.2 12

13 Distributed income of corporations (dividends) 5.0 4.8 5.2 5.5 6.0 6.3 7.3 8.4 12.5 19.4 13

14 Reinvested earnings on U.S. direct investment abroad 1.7 2.0 2.0 2.7 3.1 3.5 3.6 5.0 8.6 8.3 14

15 Less: Uses of property income (paid) 32.2 34.4 37.5 42.5 48.9 54.9 57.6 62.8 76.2 96.2 15

16 Interest 10.0 11.8 13.8 16.5 22.4 28.7 30.3 32.7 40.4 52.2 16

17 Distributed income of corporations (dividends) 21.2 21.5 22.4 24.5 25.0 24.6 25.5 28.1 33.2 40.9 17

18 Reinvested earnings on foreign direct investment 0.3 0.3 0.4 0.4 0.4 0.4 0.5 0.5 0.8 0.9 18

19 Rent 0.7 0.8 0.9 1.1 1.1 1.2 1.4 1.5 1.8 2.1 19

20 Net national income/Balance of primary incomes, net 62.7 68.6 65.1 69.5 65.0 51.8 63.7 77.0 88.8 77.0 20

21 Less: Current taxes on income, wealth, etc. (paid) 27.1 29.5 27.8 33.5 33.3 27.3 30.0 33.8 40.4 42.8 21

22 Less: Other current transfers (paid) 2.1 2.6 2.7 2.9 3.0 3.2 3.6 3.9 4.5 3.7 22

23 Equals: Disposable income, net 33.5 36.5 34.6 33.1 28.7 21.4 30.1 39.4 43.9 30.5 23

24 Equals: Net saving 33.5 36.5 34.6 33.1 28.7 21.4 30.1 39.4 43.9 30.5 24

 Capital account

25 Net saving less capital transfers 33.6 36.6 34.7 33.2 28.7 21.5 30.3 39.6 44.1 30.7 25

26 Net saving 33.5 36.5 34.6 33.1 28.7 21.4 30.1 39.4 43.9 30.5 26

27 Less: Capital transfers paid (net) -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 -0.2 27

28 Capital formation, net 31.7 43.5 38.0 39.4 43.3 35.4 36.3 45.4 62.6 69.8 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 61.6 71.9 73.8 80.2 89.2 92.2 95.2 107.7 125.5 141.3 29

30 Less: Consumption of fixed capital 35.8 39.4 43.5 48.1 53.5 59.3 64.7 70.2 78.2 91.4 30

31 Acquisition of nonproduced nonfinancial assets -0.8 -1.0 -0.1 0.6 -0.3 0.0 0.1 0.3 2.8 5.2 31

32 Change in private inventories 6.7 12.0 7.8 6.7 8.0 2.4 5.8 7.6 12.5 14.6 32

33 Net lending (+) or borrowing (-), capital account (lines 25-28) 1.8 -6.9 -3.4 -6.3 -14.6 -13.9 -6.0 -5.8 -18.6 -39.1 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 1.8 -6.9 -3.4 -6.3 -14.6 -13.9 -6.0 -5.8 -18.6 -39.1 34

35 Net acquisition of financial assets 27.4 14.4 17.8 33.1 34.2 21.4 41.5 68.4 78.1 50.6 35

36 Currency and deposits 2.3 -1.0 3.7 2.6 -0.2 2.3 3.1 5.7 7.3 4.8 36

37 Currency and transferable deposits 0.3 -0.7 2.5 2.7 5.6 1.0 -1.5 2.4 1.4 1.2 37

38 Time and savings deposits 2.3 -0.4 1.1 -0.6 -5.4 1.7 4.2 2.4 4.7 3.8 38

39 Foreign deposits -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 39

40 Debt securities -1.1 -1.2 -1.7 2.4 -1.5 1.3 5.4 1.9 -2.9 7.0 40

41 Open market paper -0.3 1.5 1.1 1.1 2.5 1.8 1.9 3.0 0.6 4.1 41

42 Treasury securities -1.9 -1.5 -2.4 0.3 -3.3 0.6 2.8 -2.2 -4.4 1.4 42

43 Agency- and GSE-backed securities (1) 0.2 -0.2 -0.0 0.4 0.2 -0.5 -0.3 0.1 1.0 0.9 43

44 Municipal securities 0.9 -1.0 -0.3 0.5 -1.0 -0.6 1.0 1.0 -0.1 0.6 44

45 Loans 1.2 0.5 0.1 0.6 2.6 -2.5 3.5 2.3 8.1 -4.2 45

46 Short term (security repos and consumer credit) 1.2 0.5 0.1 0.6 2.4 -2.4 3.5 2.3 8.0 -4.7 46

47 Long term (mortgages) 0.0 0.0 -0.0 -0.0 0.1 -0.0 0.0 -0.0 0.1 0.4 47

48 Equity and investment fund shares 4.9 5.3 4.7 5.2 5.7 6.9 7.0 7.0 10.7 8.2 48

49 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Mutual fund shares 0.1 0.1 0.1 0.2 0.1 -0.0 -0.1 -0.0 0.2 0.3 50

51 U.S. direct investment abroad 4.8 5.2 4.5 5.0 5.6 7.1 7.0 7.0 10.5 7.9 51

52 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.1 -0.2 0.0 0.0 0.0 0.0 52

53 Investment in finance company subsidiaries 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

54 Insurance, pension and standardized guarantee schemes (2) 0.4 0.6 0.7 0.8 1.2 0.9 1.1 1.9 2.0 2.2 54
Inte

g

r

ate

d

A

c

c

o

u

nts

146 Historical Annuals, 1965-1974, March 10, 2016

S.5.a Nonfinancial Corporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

55 Other accounts receivable 19.7 10.1 10.3 21.5 26.6 12.5 21.5 49.6 53.0 32.6 55

56 Trade receivables 13.3 12.4 8.3 18.5 22.8 8.4 12.4 26.4 40.9 31.8 56

57 Other (miscellaneous assets) 6.4 -2.3 2.0 3.0 3.7 4.1 9.1 23.2 12.1 0.8 57

58 Net incurrence of liabilities 35.4 35.4 30.4 49.7 58.1 47.0 57.4 75.9 127.3 101.0 58

59 Debt securities 4.5 11.0 16.1 14.1 13.1 21.5 18.0 13.5 12.4 25.4 59

60 Open market paper -0.3 0.8 1.4 1.2 1.1 1.8 -0.9 0.7 1.4 4.1 60

61 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.5 1.8 1.6 61

62 Corporate bonds 4.9 10.2 14.7 12.9 12.0 19.8 18.8 12.2 9.2 19.7 62

63 Loans 15.7 13.8 6.3 17.5 19.7 20.4 11.0 25.8 63.5 30.6 63

64 Short term 13.0 10.2 6.7 12.3 18.8 6.5 6.4 16.6 32.7 31.6 64

65 Depository institution loans n.e.c. 10.9 8.6 6.6 9.8 9.6 6.0 4.5 12.7 25.0 21.9 65

66 Other loans and advances 2.2 1.6 0.2 2.5 9.3 0.5 1.9 3.9 7.7 9.7 66

67 Long term (mortgages) 2.7 3.6 -0.4 5.2 0.9 13.9 4.6 9.2 30.9 -1.0 67

68 Equity and investment fund shares 0.4 1.6 3.1 0.6 4.6 7.1 11.7 11.8 10.4 8.7 68

69 Corporate equities -0.0 1.3 2.4 -0.2 3.4 5.7 11.4 10.9 7.9 4.1 69

70 Foreign direct investment in the United States 0.5 0.4 0.7 0.8 1.2 1.4 0.3 0.9 2.5 4.6 70

71 Insurance, pension and standardized guarantee schemes 1.2 3.4 5.0 6.8 11.7 9.6 7.2 -1.1 5.6 7.8 71

72 Pension fund contributions payable 0.2 0.0 0.2 0.2 0.0 0.1 0.3 0.5 -0.0 -0.0 72

73 Claim of pension fund on sponsor 1.1 3.3 4.7 6.6 11.7 9.5 6.9 -1.6 5.6 7.8 73

74 Other accounts payable 13.5 5.7 0.0 10.7 9.0 -11.7 9.5 25.9 35.4 28.4 74

75 Trade payables 11.8 9.1 5.9 16.4 19.5 7.9 13.7 23.2 38.1 26.5 75

76 Taxes payable 2.1 -0.9 -4.2 1.1 -1.7 -2.6 3.1 2.4 3.8 7.4 76

77 Miscellaneous liabilities -0.3 -2.6 -1.7 -6.8 -8.8 -16.9 -7.2 0.3 -6.5 -5.4 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-58) -8.0 -21.1 -12.6 -16.6 -23.8 -25.5 -15.9 -7.4 -49.1 -50.4 78

 Other changes in volume account

79 Total other volume changes -11.1 -7.3 -7.9 -8.3 -2.5 -6.1 -7.1 -7.5 8.5 110.3 79

80 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.6 -0.2 -0.0 80

81 Other volume changes -2.5 4.7 -0.2 -1.6 0.9 -0.9 -1.8 -11.9 19.7 83.4 81

82 Less: Statistical discrepancy (lines 33-78) (3) 9.8 14.1 9.2 10.3 9.3 11.7 9.9 1.6 30.6 11.3 82

83 Less: Inventory valuation adjustment -1.2 -2.1 -1.6 -3.7 -5.9 -6.6 -4.6 -6.6 -19.6 -38.2 83

 Revaluation account

84 Nonfinancial assets 15.0 23.1 24.3 38.1 50.4 56.5 64.5 61.7 109.8 241.8 84

85 Real estate 11.6 15.7 15.1 27.7 37.5 41.2 53.0 49.8 84.1 156.2 85

86 Equipment 1.0 5.4 6.7 8.8 9.0 12.8 8.8 8.1 13.6 64.8 86

87 Intellectual property products 0.7 0.8 1.6 2.0 2.9 3.2 2.1 2.6 5.6 8.7 87

88 Inventories 1.8 1.3 1.0 -0.5 0.9 -0.7 0.6 1.1 6.5 12.1 88

89 Financial assets 5.9 -1.8 1.8 2.8 3.3 3.6 2.0 13.9 -10.8 -0.3 89

90 Mutual fund shares 0.0 -0.0 0.1 0.0 -0.2 -0.1 0.1 0.0 -0.2 -0.3 90

91 Direct investment abroad 5.9 -1.8 1.8 2.8 3.4 3.7 1.9 13.9 -10.6 0.0 91

92 Liabilities 77.8 -77.0 161.9 131.0 -141.3 -8.5 110.0 197.9 -231.1 -255.7 92

93 Corporate equity 77.9 -77.2 161.9 131.1 -141.5 -8.6 110.1 198.0 -231.2 -255.9 93

94 Foreign direct investment in the United States -0.1 0.1 -0.0 -0.1 0.2 0.1 -0.2 -0.1 0.1 0.1 94

95 Changes in net worth due to nominal holding gains/losses -56.8 98.3 -135.8 -90.1 195.0 68.6 -43.4 -122.3 330.0 497.3 95

 Changes in balance sheet account

96 Change in net worth (lines 28+33+79+95) (4) -34.4 127.6 -109.0 -65.2 221.2 84.0 -20.3 -90.2 382.6 638.3 96

 Balance sheet account (end of period)

97 Total assets 1024.0 1109.9 1193.3 1308.2 1445.9 1566.5 1713.8 1897.0 2168.2 2559.2 97

98 Nonfinancial assets (5) 761.3 832.8 898.4 980.2 1083.8 1182.9 1288.6 1403.4 1596.5 1943.1 98

99 Real estate 424.0 454.0 483.2 524.9 580.4 638.0 707.0 775.7 883.3 1062.9 99

100 Equipment 182.2 204.2 225.2 249.7 276.2 303.4 324.8 350.0 388.3 478.8 100

101 Intellectual property products 37.5 41.6 46.8 52.5 59.3 65.3 69.7 75.3 84.0 95.6 101

102 Inventories 117.6 133.0 143.3 153.2 167.9 176.1 187.1 202.4 240.9 305.8 102

103 Financial assets 262.7 277.1 294.9 327.9 362.2 383.6 425.2 493.6 571.7 616.1 103

104 Currency and deposits 43.1 42.1 45.8 48.5 48.3 50.5 53.7 59.4 66.7 73.6 104

105 Currency and transferable deposits 33.3 32.6 35.1 37.8 43.4 44.4 42.9 45.3 46.7 48.2 105

106 Time and savings deposits 9.0 8.6 9.7 9.1 3.7 5.3 9.5 11.9 16.6 20.5 106

107 Foreign deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 107
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 147

S.5.a Nonfinancial Corporate Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

108 Debt securities 19.8 18.6 16.9 19.3 17.8 19.1 24.4 26.3 23.4 26.7 108

109 Open market paper 1.4 2.9 4.0 5.1 7.6 9.4 11.3 14.2 14.9 16.5 109

110 Treasury securities 12.5 11.1 8.6 9.0 5.6 6.3 9.1 6.9 2.5 2.6 110

111 Agency- and GSE-backed securities (1) 1.2 1.0 1.0 1.4 1.7 1.2 0.9 1.0 2.0 3.0 111

112 Municipal securities 4.6 3.6 3.3 3.8 2.8 2.2 3.2 4.2 4.0 4.7 112

113 Loans 13.9 14.4 14.5 15.0 17.6 15.1 18.6 20.9 30.7 26.5 113

114 Short term 13.8 14.3 14.4 14.9 17.3 14.9 18.4 20.7 30.4 25.8 114

115 Security repurchases 0.6 0.9 0.7 1.1 3.3 0.2 1.1 2.7 11.3 5.5 115

116 Consumer credit 13.2 13.4 13.7 13.8 14.0 14.7 17.3 18.0 19.2 20.3 116

117 Long term (mortgages) 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.7 117

118 Equity and investment fund shares 53.8 57.3 63.8 71.8 80.8 91.3 100.3 121.2 121.1 129.1 118

119 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 119

120 Mutual fund shares 0.3 0.4 0.6 0.8 0.7 0.6 0.7 0.7 0.8 0.8 120

121 U.S. direct investment abroad 53.3 56.7 63.0 70.8 79.8 90.6 99.6 120.5 120.3 128.2 121

122 Equity in government-sponsored enterprises (1) 0.1 0.1 0.2 0.2 0.3 0.0 0.0 0.0 0.1 0.1 122

123 Investment in finance company subsidiaries 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 123

124 Insurance, pension and standardized guarantee schemes (2) 6.9 7.4 8.1 8.9 10.1 11.0 12.1 14.0 16.0 18.1 124

125 Other accounts receivable 125.3 137.3 145.8 164.5 187.7 196.6 216.1 251.8 313.8 342.0 125

126 Trade receivables 120.9 133.3 141.6 160.1 182.9 191.4 203.8 230.2 269.3 245.5 126

127 Other (miscellaneous assets) 4.4 4.0 4.2 4.3 4.7 5.2 12.3 21.6 44.5 96.5 127

128 Total liabilities and net worth 1024.0 1109.9 1193.3 1308.2 1445.9 1566.5 1713.8 1897.0 2168.2 2559.2 128

129 Liabilities 960.7 918.9 1111.3 1291.4 1207.9 1244.5 1412.0 1685.5 1574.0 1326.8 129

130 Debt securities 98.1 109.1 125.2 139.3 152.4 173.9 191.9 205.4 217.7 243.2 130

131 Open market paper 0.8 1.6 3.0 4.2 5.4 7.1 6.2 7.0 8.4 12.5 131

132 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.6 2.4 4.1 132

133 Corporate bonds 97.3 107.5 122.1 135.0 147.0 166.8 185.6 197.8 206.9 226.6 133

134 Loans 110.1 123.8 130.1 146.8 166.5 189.5 200.3 226.5 279.7 309.9 134

135 Short term 76.0 86.1 92.8 104.4 123.2 129.7 135.4 152.3 174.9 206.2 135

136 Depository institution loans n.e.c. 61.1 69.7 76.3 86.1 95.7 101.7 106.2 119.2 134.1 156.1 136

137 Other loans and advances 14.9 16.4 16.6 18.3 27.6 28.0 29.2 33.1 40.8 50.1 137

138 Long term (mortgages) 34.1 37.7 37.2 42.4 43.3 59.8 64.9 74.2 104.8 103.7 138

139 Equity and investment fund shares 630.2 554.8 719.8 851.4 714.7 713.3 834.9 1044.6 824.0 576.9 139

140 Corporate equity 623.8 547.9 712.2 843.2 705.1 702.2 823.8 1032.7 809.4 557.6 140

141 Foreign direct investment in the United States 6.4 6.9 7.6 8.3 9.6 11.1 11.2 11.9 14.6 19.3 141

142 Insurance, pension and standardized guarantee schemes 26.2 33.4 32.6 34.8 50.9 62.8 60.1 53.2 72.4 95.5 142

143 Pension fund contributions payable 1.2 1.2 1.5 1.7 1.7 1.9 2.2 2.7 2.7 2.7 143

144 Claim of pension fund on sponsor 25.0 32.2 31.1 33.1 49.2 60.9 57.9 50.5 69.7 92.8 144

145 Other accounts payable 96.0 97.8 103.7 119.2 123.5 105.0 124.8 155.9 180.2 101.4 145

146 Trade payables 94.9 104.1 110.0 126.5 146.0 153.8 167.5 190.7 228.8 165.6 146

147 Taxes payable 18.3 17.4 13.2 14.3 12.6 10.0 13.1 15.5 19.3 24.5 147

148 Miscellaneous liabilities -17.2 -23.8 -19.6 -21.6 -35.1 -58.8 -55.8 -50.3 -67.9 -88.8 148

149 Net worth 63.3 190.9 82.0 16.8 238.0 322.0 301.8 211.5 594.2 1232.5 149

Notes. Nonfinancial corporate business includes corporate farms that are excluded from the nonfinancial corporate business sector in the Financial Accounts of the United States.

 Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) Net equity in reserves of property-casualty insurance companies.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Financial Accounts of the United States.

(5) Excludes nonproduced nonfinancial assets.

n.e.c. Not elsewhere classified
Inte

g

r

ate

d

A

c

c

o

u

nts

148 Historical Annuals, 1965-1974, March 10, 2016

S.6.a Financial Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Gross value added 27.7 30.1 33.6 37.6 42.4 45.6 50.1 54.6 58.5 66.8 1

 2 Less: Consumption of fixed capital 1.6 1.8 2.0 2.3 2.6 3.0 3.4 3.8 4.5 5.4 2

 3 Equals: Net value added 26.1 28.3 31.6 35.3 39.7 42.6 46.7 50.8 54.0 61.4 3

 4 Compensation of employees (paid) 16.0 17.4 19.3 21.7 23.8 25.8 28.1 31.0 33.7 37.3 4

 5 Wages and salaries 14.4 15.6 17.2 19.4 21.4 23.2 25.1 27.4 29.8 33.0 5

 6 Employers’ social contributions 1.6 1.8 2.1 2.2 2.4 2.7 3.0 3.6 4.0 4.3 6

 7 Taxes on production and imports less subsidies 2.2 2.3 2.5 2.8 3.2 3.2 3.9 4.3 4.6 4.8 7

 8 Operating surplus, net 7.9 8.6 9.8 10.8 12.7 13.5 14.7 15.6 15.7 19.4 8

 9 Net national income/Balance of primary incomes, net 9.5 9.7 10.4 12.4 13.4 13.9 15.4 17.3 19.5 21.7 9

10 Operating surplus, net 7.9 8.6 9.8 10.8 12.7 13.5 14.7 15.6 15.7 19.4 10

11 Property income (received) 51.1 56.2 61.5 69.9 82.8 99.1 109.2 122.4 147.9 181.1 11

12 Interest 46.7 52.0 57.1 64.8 77.0 93.0 102.6 115.2 139.1 171.2 12

13 Distributed income of corporations (dividends) 4.4 4.1 4.3 5.0 5.6 5.9 6.4 7.0 8.3 9.4 13

14 Reinvested earnings on U.S. direct investment abroad 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.4 0.4 14

15 Less: Uses of property income (paid) 49.5 55.1 61.0 68.4 82.0 98.7 108.4 120.7 144.2 178.7 15

16 Interest 41.9 47.2 52.6 58.9 71.9 87.6 96.2 107.3 130.0 164.0 16

17 Distributed income of corporations 7.5 7.8 8.3 9.4 10.1 11.0 12.1 13.3 14.0 14.6 17

18 Dividends 5.1 5.2 5.4 6.2 7.0 8.0 8.6 9.3 10.7 11.3 18

19 Withdrawals from income of quasi-corporations (1) 2.5 2.6 2.9 3.2 3.1 3.0 3.6 4.1 3.3 3.2 19

20 Reinvested earnings on foreign direct investment 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 20

21 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

22 Net national income/Balance of primary incomes, net 9.5 9.7 10.4 12.4 13.4 13.9 15.4 17.3 19.5 21.7 22

23 Less: Current taxes on income, wealth, etc. (paid) 3.9 4.4 5.1 6.1 6.6 7.5 8.2 8.5 9.6 9.9 23

24 Less: Other current transfers (paid) 1.1 0.3 0.5 0.8 1.3 0.6 -0.2 0.0 0.3 2.6 24

25 Equals: Disposable income, net 4.5 5.1 4.9 5.5 5.5 5.8 7.3 8.7 9.6 9.2 25

26 Equals: Net saving 4.5 5.1 4.9 5.5 5.5 5.8 7.3 8.7 9.6 9.2 26

 Capital account

27 Net saving less capital transfers 4.5 5.1 4.9 5.5 5.5 5.8 7.3 8.7 9.6 9.2 27

28 Net saving 4.5 5.1 4.9 5.5 5.5 5.8 7.3 8.7 9.6 9.2 28

29 Less: Capital transfers paid (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

30 Capital formation, net 1.9 1.8 2.0 2.8 2.9 2.8 3.4 3.4 5.1 6.5 30

31 Gross fixed capital formation (nonresidential) 3.5 3.6 4.0 5.1 5.5 5.8 6.9 7.2 9.5 11.9 31

32 Less: Consumption of fixed capital 1.6 1.8 2.0 2.3 2.6 3.0 3.4 3.8 4.5 5.4 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) 2.7 3.2 2.9 2.7 2.7 3.0 3.9 5.3 4.5 2.8 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 2.7 3.2 2.9 2.7 2.7 3.0 3.9 5.3 4.5 2.8 34

35 Net acquisition of financial assets 101.0 96.4 129.9 138.4 138.2 163.2 213.0 268.0 289.7 241.1 35

36 Monetary gold -1.7 -0.6 -1.2 -1.6 0.0 0.4 -0.6 -0.5 0.0 0.1 36

37 Currency and deposits 1.2 3.8 4.2 5.4 0.2 4.3 5.7 1.5 5.8 4.8 37

38 Debt securities 14.6 16.0 38.3 30.0 6.3 50.4 50.1 49.3 37.4 42.9 38

39 Open market paper -0.0 0.6 1.2 0.4 2.6 1.8 1.0 3.1 2.6 7.3 39

40 Treasury securities 1.3 2.1 10.9 8.0 -8.3 15.3 8.5 5.5 0.9 2.5 40

41 Agency- and GSE-backed securities (2) 0.9 1.4 3.2 2.8 1.6 6.8 8.6 11.5 13.2 11.0 41

42 Municipal securities 4.7 2.6 10.4 9.5 1.5 12.6 16.6 11.8 9.3 7.0 42

43 Corporate and foreign bonds 7.8 9.2 12.5 9.3 8.9 13.9 15.4 17.4 11.3 15.1 43

44 Loans 56.2 43.5 45.4 53.3 67.7 50.7 83.2 135.3 164.0 138.8 44

45 Short term 29.4 22.8 24.9 27.8 40.8 23.6 33.2 66.2 87.7 85.7 45

46 Long term (mortgages) 26.8 20.8 20.5 25.5 26.9 27.1 50.0 69.1 76.3 53.1 46

47 Equity and investment fund shares 10.8 12.2 15.0 19.5 26.3 16.4 25.9 30.3 24.2 18.2 47

48 Corporate equities 10.5 11.8 14.6 19.0 21.2 9.2 19.9 21.1 14.1 6.7 48

49 Mutual fund shares 0.0 0.1 0.0 0.1 0.6 0.5 -0.2 -0.1 0.9 1.1 49

50 Money market mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

51 Equity in government-sponsored enterprises (2) 0.1 0.1 0.0 0.0 0.1 0.1 0.0 0.1 0.4 0.5 51

52 U.S. direct investment abroad 0.2 0.2 0.3 0.3 0.4 0.5 0.6 0.7 0.9 1.1 52

53 Stock in Federal Reserve Banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 53

54 Investment in subsidiaries 0.0 0.0 0.0 0.0 4.0 6.0 5.6 8.4 7.9 8.7 54

55 Insurance, pension and standardized guarantee schemes 17.8 21.0 24.4 28.5 36.0 38.4 40.8 34.7 42.9 47.5 55

56 Other accounts receivable 2.1 0.4 3.8 3.3 1.6 2.6 8.0 17.4 15.4 -11.3 56
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 149

S.6.a Financial Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

57 Net incurrence of liabilities 98.2 93.1 118.0 141.6 140.0 164.2 210.3 267.5 280.8 242.2 57

58 Currency and deposits 40.9 31.4 58.6 54.7 20.2 65.0 96.9 104.5 95.7 85.8 58

59 Debt securities 4.6 10.8 3.8 7.3 22.1 12.6 11.4 16.7 32.3 41.5 59

60 Agency- and GSE-backed securities (2) 2.2 5.5 0.1 3.8 9.7 9.8 5.9 8.4 19.9 21.1 60

61 Corporate bonds 1.2 1.6 1.0 0.6 1.0 2.5 4.7 7.4 5.4 6.9 61

62 Commercial paper 1.2 3.7 2.7 3.0 11.4 0.3 0.8 0.9 7.0 13.4 62

63 Loans 5.0 1.4 2.3 9.0 9.6 6.8 7.9 23.1 26.2 19.3 63

64 Short term 5.0 1.4 2.3 8.8 9.4 6.6 7.7 22.6 25.9 19.2 64

65 Long term (mortgages) 0.0 0.0 0.0 0.2 0.2 0.1 0.1 0.5 0.3 0.1 65

66 Equity and investment fund shares 1.5 3.2 0.4 3.5 9.3 7.3 9.0 9.9 11.2 13.8 66

67 Money market mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 67

68 Corporate equity issues -0.7 0.4 -0.8 1.1 1.6 -0.3 3.1 2.7 5.6 2.2 68

69 Mutual fund shares 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 69

70 Equity in government-sponsored enterprises (2) 0.1 0.3 0.1 -0.2 0.2 -0.0 0.1 0.2 0.5 0.7 70

71 Foreign direct investment in the United States -0.1 0.1 0.0 0.0 0.1 0.0 0.1 0.1 0.1 -0.0 71

72 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.8 72

73 Investment by parent 0.0 0.0 0.0 0.0 4.0 6.0 5.6 8.4 5.4 7.7 73

74 Stock in Federal Reserve Banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 74

75 Insurance, pension and standardized guarantee schemes 42.6 48.8 53.3 60.6 71.9 68.3 75.2 90.2 90.6 97.9 75

76 Other accounts payable 3.6 -2.5 -0.5 6.5 6.9 4.3 9.9 23.1 24.8 -16.0 76

 Addendum:

77 Net lending (+) or borrowing (-), financial account (lines 35-57) 2.8 3.2 11.9 -3.2 -1.8 -1.0 2.7 0.5 8.9 -1.1 77

 Other changes in volume account

78 Total other volume changes -3.6 4.5 2.9 -10.8 3.8 3.2 -11.3 -8.3 34.6 23.1 78

79 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.1 -0.0 -0.0 79

80 Other volume changes -3.7 4.4 -6.1 -4.9 8.2 7.2 -10.2 -3.4 30.3 27.0 80

81 Less: Statistical discrepancy (lines 33-77) (3) -0.1 -0.0 -9.0 5.8 4.4 4.0 1.2 4.8 -4.4 3.9 81

 Revaluation account

82 Nonfinancial assets 0.3 0.7 0.7 1.6 1.8 2.0 2.7 2.9 3.8 9.3 82

83 Structures (nonresidential) 0.5 0.8 0.7 1.5 1.6 1.8 3.0 2.6 3.4 6.6 83

84 Equipment -0.2 -0.1 0.1 0.1 0.2 0.1 -0.3 0.3 0.4 2.5 84

85 Intellectual property products -0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 0.1 0.2 85

86 Financial assets 4.5 -16.5 13.4 4.8 -26.1 -2.1 26.9 21.5 -46.5 -54.9 86

87 Corporate equities 4.4 -16.5 13.3 4.7 -25.9 -1.9 26.6 21.4 -46.0 -54.1 87

88 Mutual fund shares 0.0 -0.1 0.1 0.0 -0.2 -0.1 0.2 0.1 -0.5 -0.8 88

89 U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 89

90 Liabilities 10.2 -7.8 14.3 25.8 -36.7 -4.3 30.3 22.5 -63.7 -73.8 90

91 Corporate equity issues 10.7 1.8 10.2 27.8 -19.5 -5.8 17.9 14.0 -46.7 -55.2 91

92 Mutual fund shares 4.0 -2.9 8.4 4.4 -7.0 -2.4 8.5 4.9 -11.2 -11.5 92

93 Foreign direct investment in the United States 0.0 -0.2 0.1 0.1 -0.2 -0.0 0.2 0.3 0.2 -0.1 93

94 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 -0.0 94

95 Pension fund reserves -4.5 -6.5 -4.4 -6.5 -10.0 3.9 3.7 3.3 -6.3 -6.8 95

96 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 96

97 Changes in net worth due to nominal holding gains/losses -5.4 -8.0 -0.1 -19.5 12.4 4.2 -0.7 2.0 21.0 28.1 97

 Changes in balance sheet account

98 Change in net worth (lines 30+33+78+97) -4.4 1.5 7.7 -24.7 21.7 13.2 -4.7 2.3 65.2 60.5 98

 Balance sheet account (end of period)

99 Total assets 1305.7 1393.1 1530.2 1675.1 1797.3 1968.5 2209.6 2504.5 2755.4 2979.4 99

100 Nonfinancial assets (4) 24.3 26.8 29.5 34.0 38.7 43.4 49.6 55.8 64.7 80.4 100

101 Structures (nonresidential) 18.3 20.0 21.5 24.3 27.2 30.3 34.7 38.8 44.3 53.7 101

102 Equipment 5.6 6.5 7.5 8.9 10.6 12.0 13.5 15.4 18.4 24.0 102

103 Intellectual property products 0.3 0.4 0.6 0.7 0.9 1.2 1.4 1.6 2.1 2.8 103

104 Financial assets 1281.4 1366.2 1500.7 1641.2 1758.6 1925.1 2160.1 2448.7 2690.7 2899.0 104

105 Monetary gold 13.7 13.2 12.0 10.4 10.4 10.7 10.1 10.4 11.6 11.7 105

106 Currency and deposits 42.5 46.3 50.7 56.0 56.6 60.3 65.9 67.5 73.3 78.1 106
Inte

g

r

ate

d

A

c

c

o

u

nts

150 Historical Annuals, 1965-1974, March 10, 2016

S.6.a Financial Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

107 Debt securities 340.9 356.9 395.2 425.2 431.1 481.5 531.6 580.8 618.2 661.2 107

108 Open market paper 3.3 3.9 5.1 5.6 8.1 9.9 10.9 14.0 16.7 24.0 108

109 Treasury securities 156.8 158.9 169.8 177.7 169.4 184.8 193.3 198.8 199.7 202.2 109

110 Agency- and GSE-backed securities (2) 10.5 12.0 15.2 18.0 19.6 26.4 35.0 46.4 59.7 70.7 110

111 Municipal securities 57.1 59.7 70.2 79.7 81.2 93.8 110.4 122.1 131.5 138.6 111

112 Corporate and foreign bonds 113.1 122.4 134.9 144.2 152.7 166.6 182.1 199.5 210.7 225.8 112

113 Loans 515.1 558.7 604.0 657.1 724.8 775.5 858.0 993.8 1157.8 1294.8 113

114 Short term 231.9 254.6 279.5 307.3 348.6 372.2 405.4 472.0 559.7 645.0 114

115 Long term (mortgages) 283.2 304.0 324.5 349.7 376.3 403.2 452.6 521.8 598.1 649.9 115

116 Equity and investment fund shares 108.6 104.3 132.7 157.0 157.2 171.5 224.3 276.2 253.9 217.2 116

117 Corporate equities 104.2 99.5 127.5 151.2 146.5 153.8 200.3 242.8 211.0 163.5 117

118 Mutual fund shares 0.5 0.6 0.7 0.9 1.3 1.7 1.8 1.8 2.2 2.5 118

119 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 119

120 Equity in government-sponsored enterprises (2) 1.3 1.4 1.4 1.4 1.5 1.6 1.6 1.8 2.1 2.6 120

121 U.S. direct investment abroad 2.1 2.3 2.6 2.9 3.3 3.7 4.3 5.0 5.9 7.1 121

122 Stock in Federal Reserve Banks 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.9 122

123 Investment in subsidiaries 0.0 0.0 0.0 0.0 4.0 10.0 15.6 24.0 31.8 40.5 123

124 Insurance, pension and standardized guarantee schemes 240.4 266.1 281.6 307.3 348.9 392.7 428.8 463.6 503.2 572.5 124

125 Other accounts receivable 20.2 20.9 24.4 28.2 29.6 32.9 41.4 56.4 72.9 63.5 125

126 Total liabilities and net worth 1305.7 1393.1 1530.2 1675.1 1797.3 1968.5 2209.6 2504.5 2755.4 2979.4 126

127 Liabilities 1310.4 1396.3 1525.7 1695.3 1795.8 1953.8 2199.6 2492.2 2677.8 2841.4 127

128 Currency and deposits 533.3 564.6 623.3 678.0 693.5 758.5 855.4 961.4 1058.3 1144.9 128

129 Debt securities 43.4 54.2 58.0 65.4 87.5 100.2 111.6 128.3 160.6 201.0 129

130 Agency- and GSE-backed securities (2) 14.7 20.2 20.3 24.1 33.8 43.6 49.5 57.9 77.9 97.9 130

131 Corporate bonds 16.7 18.3 19.3 19.9 20.9 23.5 28.2 35.6 41.0 47.9 131

132 Commercial paper 11.9 15.7 18.4 21.4 32.8 33.1 33.8 34.7 41.7 55.1 132

133 Loans 29.3 30.7 33.0 42.0 51.6 58.4 66.2 89.4 115.6 134.9 133

134 Short term 29.3 30.7 33.0 41.8 51.2 57.8 65.6 88.2 114.1 133.3 134

135 Long term (mortgages) 0.0 0.0 0.0 0.2 0.4 0.5 0.7 1.2 1.5 1.6 135

136 Equity and investment fund shares 145.8 147.7 166.8 202.5 185.1 184.2 219.9 248.9 202.8 149.8 136

137 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 137

138 Corporate equity issues 106.1 108.2 117.6 146.5 128.6 122.5 143.5 160.1 118.9 65.9 138

139 Mutual fund shares 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 139

140 Equity in government-sponsored enterprises (2) 2.0 2.3 2.4 2.2 2.4 2.4 2.5 2.7 3.3 4.0 140

141 Foreign direct investment in the United States 1.9 1.8 1.9 2.0 1.8 1.9 2.1 2.5 2.8 2.7 141

142 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.7 142

143 Investment by parent 0.0 0.0 0.0 0.0 4.0 10.0 15.6 24.0 29.3 37.0 143

144 Stock in Federal Reserve Banks 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.9 144

145 Insurance, pension and standardized guarantee schemes 527.8 570.8 617.1 673.6 736.4 812.3 898.6 1001.3 1063.3 1154.5 145

146 Other accounts payable 30.8 28.2 27.5 33.8 41.6 40.2 47.9 62.8 77.3 56.4 146

147 Net worth -4.7 -3.2 4.5 -20.2 1.5 14.7 10.0 12.3 77.6 138.0 147

Notes. Financial business includes depository institutions, insurance companies, pension funds, monetary authority, and other financial institutions.

 Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 151

S.61.a Central Bank

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation of employees (paid) ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND ND ND ND ND 7

 8 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 9

10 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 10

11 Property income (received) ND ND ND ND ND ND ND ND ND ND 11

12 Interest ND ND ND ND ND ND ND ND ND ND 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND ND ND ND ND 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND ND ND ND ND 15

16 Interest ND ND ND ND ND ND ND ND ND ND 16

17 Distributed income of corporations ND ND ND ND ND ND ND ND ND ND 17

18 Dividends ND ND ND ND ND ND ND ND ND ND 18

19 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND ND ND ND ND 19

20 Reinvested earnings on foreign direct investment ND ND ND ND ND ND ND ND ND ND 20

21 Rents on land and natural resources ND ND ND ND ND ND ND ND ND ND 21

22 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 22

23 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND ND ND ND ND 23

24 Less: Other current transfers (paid) ND ND ND ND ND ND ND ND ND ND 24

25 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 25

26 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND ND ND ND ND 27

28 Net saving ND ND ND ND ND ND ND ND ND ND 28

29 Less: Capital transfers paid (net) ND ND ND ND ND ND ND ND ND ND 29

30 Capital formation, net 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

31 Gross fixed capital formation (nonresidential) 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.1 31

32 Less: Consumption of fixed capital 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND ND ND ND ND 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) ND ND ND ND ND ND ND ND ND ND 34

35 Net acquisition of financial assets 2.3 4.5 4.8 4.0 4.0 5.4 8.5 2.2 8.1 6.5 35

36 Monetary gold -1.7 -0.6 -1.2 -1.6 0.0 0.4 -0.6 -0.5 0.0 0.1 36

37 Currency and deposits -0.0 1.3 0.9 1.8 -0.4 0.0 0.4 0.3 -0.6 -0.5 37

38 Debt securities 4.0 3.2 5.3 3.9 4.2 5.0 7.4 1.6 9.3 4.9 38

39 Open market paper 0.0 -0.0 0.0 -0.0 0.0 -0.0 0.0 -0.0 -0.0 0.5 39

40 Treasury securities 4.0 3.2 5.3 4.0 4.2 5.0 6.9 0.8 8.7 1.6 40

41 Agency- and GSE-backed securities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.8 0.6 2.8 41

42 Loans (short term) -0.2 0.4 -0.6 -0.2 -0.0 0.2 1.2 0.6 -0.8 0.3 42

43 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43

44 Other accounts receivable 0.3 0.2 0.2 0.1 0.2 -0.1 0.1 0.2 0.2 1.8 44

45 Net incurrence of liabilities 2.3 4.4 4.8 3.9 4.0 5.4 8.4 2.1 8.1 6.5 45

46 Currency and deposits 2.6 4.3 4.7 3.6 3.6 4.9 8.6 2.1 6.8 6.7 46

47 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 Equity shares (stock in Federal Reserve Banks) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 48

49 Other accounts payable -0.3 0.1 0.1 0.3 0.3 0.5 -0.2 -0.0 1.2 -0.2 49

 Addendum:

50 Net lending (+) or borrowing (-), financial account (lines 35-45) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 50

 Other changes in volume account

51 Total other volume changes ND ND ND ND ND ND ND ND ND ND 51

52 Other volume changes ND ND ND ND ND ND ND ND ND ND 52

53 Less: Statistical discrepancy (lines 33-50) (3) ND ND ND ND ND ND ND ND ND ND 53
Inte

g

r

ate

d

A

c

c

o

u

nts

152 Historical Annuals, 1965-1974, March 10, 2016

S.61.a Central Bank

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Revaluation account

54 Nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 54

55 Structures (nonresidential) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

56 Equipment -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 56

57 Intellectual property products 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 57

58 Changes in net worth due to nominal holding gains/losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 58

 Changes in balance sheet account

59 Change in net worth (lines 30+33+51+58) 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 59

 Balance sheet account (end of period)

60 Total assets 63.7 68.1 72.9 76.9 80.9 86.3 94.9 97.9 107.2 113.9 60

61 Nonfinancial assets (4) 0.1 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.4 61

62 Structures (nonresidential) 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.4 62

63 Equipment 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 63

64 Intellectual property products 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 64

65 Financial assets 63.5 68.0 72.8 76.7 80.7 86.1 94.6 97.6 106.9 113.4 65

66 Monetary gold 13.7 13.2 12.0 10.4 10.4 10.7 10.1 10.4 11.6 11.7 66

67 Currency and deposits 8.2 9.5 10.7 12.3 12.2 11.6 11.9 12.4 11.7 11.2 67

68 Debt securities 40.6 43.7 49.1 53.0 57.2 62.2 69.6 71.2 80.5 85.3 68

69 Open market paper 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.6 69

70 Treasury securities 40.5 43.7 49.0 52.9 57.2 62.1 69.0 69.8 78.5 80.1 70

71 Agency- and GSE-backed securities (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.5 1.3 1.9 4.7 71

72 Loans (short term) 0.5 1.0 0.4 0.2 0.2 0.3 1.5 2.1 1.4 1.7 72

73 Equity shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 73

74 Other accounts receivable 0.5 0.7 0.7 0.9 0.8 1.3 1.5 1.5 1.8 3.6 74

75 Total liabilities and net worth 63.7 68.1 72.9 76.9 80.9 86.3 94.9 97.9 107.2 113.9 75

76 Liabilities 63.0 67.4 72.2 76.1 80.1 85.4 93.9 96.8 106.0 112.5 76

77 Currency and deposits 62.1 66.5 71.1 74.7 78.3 83.2 91.8 94.7 102.7 109.4 77

78 Loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 78

79 Equity shares (stock in Federal Reserve Banks) 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.9 79

80 Other accounts payable 0.3 0.4 0.4 0.8 1.1 1.5 1.3 1.3 2.5 2.3 80

81 Net worth 0.7 0.7 0.8 0.8 0.9 0.9 1.0 1.1 1.2 1.3 81

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 153

S.62.a Private Depository Institutions

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation of employees (paid) ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND ND ND ND ND 7

 8 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 9

10 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 10

11 Property income (received) ND ND ND ND ND ND ND ND ND ND 11

12 Interest ND ND ND ND ND ND ND ND ND ND 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND ND ND ND ND 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND ND ND ND ND 15

16 Interest ND ND ND ND ND ND ND ND ND ND 16

17 Distributed income of corporations ND ND ND ND ND ND ND ND ND ND 17

18 Dividends ND ND ND ND ND ND ND ND ND ND 18

19 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND ND ND ND ND 19

20 Reinvested earnings on foreign direct investment ND ND ND ND ND ND ND ND ND ND 20

21 Rents on land and natural resources ND ND ND ND ND ND ND ND ND ND 21

22 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 22

23 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND ND ND ND ND 23

24 Less: Other current transfers (paid) ND ND ND ND ND ND ND ND ND ND 24

25 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 25

26 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND ND ND ND ND 27

28 Net saving ND ND ND ND ND ND ND ND ND ND 28

29 Less: Capital transfers paid (net) ND ND ND ND ND ND ND ND ND ND 29

30 Capital formation, net ND ND ND ND ND ND ND ND ND ND 30

31 Gross fixed capital formation (nonresidential) ND ND ND ND ND ND ND ND ND ND 31

32 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND ND ND ND ND 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) ND ND ND ND ND ND ND ND ND ND 34

35 Net acquisition of financial assets 45.0 30.3 65.2 54.2 31.8 63.5 102.8 132.3 130.9 101.4 35

36 Currency and deposits 0.6 1.9 2.2 2.0 -0.0 3.1 3.6 -1.3 3.7 0.4 36

37 Vault cash 0.3 0.6 0.5 1.3 0.1 -0.3 0.5 1.1 2.0 1.0 37

38 Reserves at the Federal Reserve 0.4 1.3 1.3 0.8 0.2 2.1 3.6 -2.1 1.4 -1.2 38

39 Deposits at Federal Home Loan Banks -0.2 -0.0 0.4 -0.0 -0.3 1.3 -0.5 -0.2 0.2 0.6 39

40 Debt securities 1.8 -0.4 24.1 14.2 -8.8 27.9 29.9 21.6 2.2 8.1 40

41 Open market paper -0.5 -0.0 1.0 0.0 0.6 1.4 0.5 0.0 -0.5 1.4 41

42 Treasury securities -3.2 -3.6 7.7 2.2 -11.5 5.7 2.8 1.9 -10.3 -5.1 42

43 Agency- and GSE-backed securities (2) 0.7 0.5 3.3 1.8 1.0 6.4 8.0 8.1 10.0 5.2 43

44 Municipal securities 5.1 2.3 9.1 8.6 0.7 10.7 12.8 7.6 5.8 5.7 44

45 Corporate and foreign bonds -0.2 0.3 3.0 1.6 0.5 3.8 5.8 4.0 -2.7 0.9 45

46 Loans 41.9 28.5 36.9 36.4 41.9 33.8 63.3 104.8 120.6 102.0 46

47 Short term 23.1 16.1 22.9 17.9 24.5 20.0 27.4 51.6 67.6 67.9 47

48 Long term (mortgages) 18.8 12.5 14.0 18.5 17.5 13.8 35.9 53.2 53.0 34.1 48

49 Equity and investment fund shares 0.3 0.2 0.4 0.4 0.5 0.7 0.7 1.1 1.2 1.2 49

50 Corporate equities 0.2 0.1 0.2 0.3 0.2 0.4 0.5 0.6 0.4 0.2 50

51 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 51

52 Equity in government-sponsored enterprises (2) 0.1 0.1 0.0 0.0 0.1 0.1 0.0 0.1 0.4 0.5 52

53 U.S. direct investment abroad 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.4 53

54 Stock in Federal Reserve Banks 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 54

55 Insurance, pension and standardized guarantee schemes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

56 Other accounts receivable 0.4 0.1 1.7 1.2 -1.9 -1.9 5.3 6.1 3.3 -10.3 56
Inte

g

r

ate

d

A

c

c

o

u

nts

154 Historical Annuals, 1965-1974, March 10, 2016

S.62.a Private Depository Institutions

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

57 Net incurrence of liabilities 43.5 28.9 54.8 59.5 33.1 67.0 103.2 135.3 124.5 102.8 57

58 Currency and deposits 38.5 27.1 53.6 51.2 16.9 58.8 88.8 102.6 88.7 78.4 58

59 Checkable deposits 5.4 2.1 12.4 13.6 4.8 9.7 13.6 21.3 13.3 0.0 59

60 Other deposits 33.1 25.0 41.1 37.7 12.1 49.1 75.2 81.3 75.5 78.4 60

61 Debt securities 0.8 0.3 1.0 0.4 0.9 1.7 1.7 0.1 2.0 9.8 61

62 Corporate bonds 0.8 0.1 0.3 0.3 -0.2 0.1 0.9 1.1 0.0 0.2 62

63 Commercial paper 0.0 0.2 0.7 0.1 1.0 1.6 0.8 -1.0 2.0 9.7 63

64 Loans (short term) 1.2 1.4 -0.4 3.4 11.3 3.4 5.0 12.2 22.4 19.5 64

65 Equity and investment fund shares -0.1 0.0 -0.0 -0.0 4.0 6.1 5.6 7.2 2.8 7.3 65

66 Corporate equity issues -0.1 -0.0 -0.0 -0.1 -0.0 0.1 0.6 1.2 1.2 1.0 66

67 Foreign direct investment in the United States -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.3 67

68 Investment by parent 0.0 0.0 0.0 0.0 4.0 6.0 5.0 6.0 1.5 6.0 68

69 Other accounts payable 3.1 0.1 0.7 4.5 0.1 -3.1 2.0 13.2 8.5 -12.3 69

 Addendum:

70 Net lending (+) or borrowing (-), financial account (lines 35-57) 1.5 1.5 10.4 -5.3 -1.4 -3.5 -0.4 -3.0 6.4 -1.4 70

 Other changes in volume account

71 Total other volume changes ND ND ND ND ND ND ND ND ND ND 71

72 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 72

73 Other volume changes ND ND ND ND ND ND ND ND ND ND 73

74 Less: Statistical discrepancy (lines 33-70) (3) ND ND ND ND ND ND ND ND ND ND 74

 Revaluation account

75 Nonfinancial assets 0.0 0.2 0.2 0.4 0.5 0.5 0.6 0.8 1.0 2.4 75

76 Structures (nonresidential) 0.1 0.2 0.2 0.4 0.4 0.5 0.8 0.7 0.8 1.6 76

77 Equipment -0.1 -0.0 0.0 0.0 0.0 0.0 -0.2 0.1 0.2 0.8 77

78 Intellectual property products -0.0 -0.0 -0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.0 78

79 Financial assets 0.1 -0.3 0.3 -0.4 -0.1 -0.0 0.2 0.4 -0.7 -0.7 79

80 Corporate equities 0.1 -0.3 0.3 -0.4 -0.1 -0.0 0.2 0.4 -0.7 -0.7 80

81 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 81

82 U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 82

83 Liabilities 0.0 -0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 83

84 Corporate equity issues 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84

85 Foreign direct investment in the United States 0.0 -0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 85

86 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 86

87 Changes in net worth due to nominal holding gains/losses 0.2 -0.1 0.5 0.0 0.4 0.5 0.8 1.1 0.3 1.7 87

 Changes in balance sheet account

88 Change in net worth (lines 30+33+71+87) 2.1 2.2 11.1 -4.1 -0.8 -2.2 2.1 -2.5 9.1 3.5 88

 Balance sheet account (end of period)

89 Total assets 541.6 572.4 638.2 693.4 726.0 790.7 895.5 1028.2 1161.8 1268.1 89

90 Nonfinancial assets (4) 7.0 7.7 8.4 9.5 10.9 12.1 13.9 15.6 18.3 23.2 90

91 Structures (nonresidential) 5.1 5.5 5.8 6.4 7.0 7.7 8.8 9.6 10.8 13.0 91

92 Equipment 1.9 2.1 2.5 3.1 3.8 4.3 5.0 5.8 7.3 9.9 92

93 Intellectual property products 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.2 0.3 93

94 Financial assets 534.7 564.8 629.9 683.9 715.1 778.6 881.6 1012.6 1143.5 1244.9 94

95 Currency and deposits 24.3 26.3 28.5 30.4 30.4 33.5 37.1 35.8 39.5 39.9 95

96 Vault cash 4.9 5.5 5.9 7.2 7.3 7.0 7.5 8.6 10.7 11.6 96

97 Reserves at the Federal Reserve 18.4 19.8 21.1 21.9 22.1 24.2 27.8 25.6 27.1 25.8 97

98 Deposits at Federal Home Loan Banks 1.0 1.0 1.4 1.4 1.0 2.3 1.8 1.5 1.7 2.4 98

99 Debt securities 126.1 125.7 149.7 163.9 154.7 182.6 212.5 234.1 236.3 244.5 99

100 Open market paper 2.0 1.9 2.9 2.9 3.5 4.9 5.4 5.5 5.0 6.4 100

101 Treasury securities 72.1 68.6 76.3 78.4 67.0 72.6 75.4 77.3 67.0 61.9 101

102 Agency- and GSE-backed securities (2) 8.7 9.2 12.5 14.3 15.2 21.6 29.6 37.7 47.7 52.9 102

103 Municipal securities 39.1 41.5 50.6 59.2 59.8 70.5 83.4 91.0 96.8 102.6 103

104 Corporate and foreign bonds 4.1 4.5 7.5 9.1 9.1 12.9 18.7 22.7 19.9 20.8 104

105 Loans 372.6 401.1 438.0 474.2 516.2 549.9 612.6 717.8 838.4 940.0 105

106 Short term 168.8 184.9 207.7 225.6 250.6 270.6 298.0 350.0 417.6 485.4 106

107 Long term (mortgages) 203.8 216.3 230.3 248.6 265.6 279.3 314.6 367.8 420.8 454.6 107
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 155

S.62.a Private Depository Institutions

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

108 Equity and investment fund shares 4.4 4.3 4.9 5.0 5.3 6.0 6.9 8.4 8.9 9.4 108

109 Corporate equities 2.3 2.0 2.6 2.5 2.6 2.9 3.6 4.6 4.4 3.9 109

110 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 110

111 Equity in government-sponsored enterprises (2) 1.3 1.4 1.4 1.4 1.5 1.6 1.6 1.8 2.1 2.6 111

112 U.S. direct investment abroad 0.3 0.3 0.4 0.5 0.6 0.8 1.0 1.3 1.6 2.0 112

113 Stock in Federal Reserve Banks 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.8 0.8 0.9 113

114 Insurance, pension and standardized guarantee schemes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 114

115 Other accounts receivable 7.2 7.4 8.7 10.4 8.4 6.6 12.5 16.5 20.4 11.1 115

116 Total liabilities and net worth 541.6 572.4 638.2 693.4 726.0 790.7 895.5 1028.2 1161.8 1268.1 116

117 Liabilities 548.1 576.7 631.4 690.7 724.0 791.1 893.7 1028.9 1153.4 1256.2 117

118 Currency and deposits 470.1 497.2 550.7 601.9 614.2 673.0 761.8 865.2 953.9 1033.1 118

119 Checkable deposits 150.3 152.4 164.8 178.4 183.2 192.8 206.4 226.5 239.8 239.8 119

120 Other deposits 319.8 344.8 385.9 423.6 431.0 480.1 555.4 638.6 714.1 793.3 120

121 Debt securities 5.0 5.3 6.3 6.7 7.5 9.3 11.0 11.1 13.1 23.0 121

122 Corporate bonds 1.6 1.7 2.0 2.2 2.0 2.1 3.0 4.1 4.1 4.3 122

123 Commercial paper 3.4 3.6 4.4 4.5 5.5 7.1 8.0 7.0 9.0 18.7 123

124 Loans (short term) 8.6 10.0 9.5 13.0 24.2 27.7 32.7 44.9 67.3 86.9 124

125 Equity and investment fund shares 49.5 49.5 49.5 49.4 53.4 59.5 65.2 72.4 75.2 82.5 125

126 Corporate equity issues 49.2 49.1 49.1 49.1 49.0 49.1 49.8 50.9 52.2 53.2 126

127 Foreign direct investment in the United States 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.6 0.8 127

128 Investment by parent 0.0 0.0 0.0 0.0 4.0 10.0 15.0 21.0 22.5 28.5 128

129 Other accounts payable 14.9 14.8 15.3 19.6 24.7 21.6 23.1 35.3 43.8 30.8 129

130 Net worth -6.5 -4.3 6.8 2.7 1.9 -0.3 1.8 -0.7 8.4 12.0 130

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
Inte

g

r

ate

d

A

c

c

o

u

nts

156 Historical Annuals, 1965-1974, March 10, 2016

S.63.a Insurance Companies

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation of employees (paid) ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND ND ND ND ND 7

 8 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 9

10 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 10

11 Property income (received) ND ND ND ND ND ND ND ND ND ND 11

12 Interest ND ND ND ND ND ND ND ND ND ND 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND ND ND ND ND 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND ND ND ND ND 15

16 Interest ND ND ND ND ND ND ND ND ND ND 16

17 Distributed income of corporations ND ND ND ND ND ND ND ND ND ND 17

18 Dividends ND ND ND ND ND ND ND ND ND ND 18

19 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND ND ND ND ND 19

20 Reinvested earnings on foreign direct investment ND ND ND ND ND ND ND ND ND ND 20

21 Rents on land and natural resources ND ND ND ND ND ND ND ND ND ND 21

22 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 22

23 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND ND ND ND ND 23

24 Less: Other current transfers (paid) ND ND ND ND ND ND ND ND ND ND 24

25 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 25

26 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND ND ND ND ND 27

28 Net saving ND ND ND ND ND ND ND ND ND ND 28

29 Less: Capital transfers paid (net) ND ND ND ND ND ND ND ND ND ND 29

30 Capital formation, net ND ND ND ND ND ND ND ND ND ND 30

31 Gross fixed capital formation (nonresidential) ND ND ND ND ND ND ND ND ND ND 31

32 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND ND ND ND ND 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) ND ND ND ND ND ND ND ND ND ND 34

35 Net acquisition of financial assets 10.0 10.8 10.8 12.6 12.6 15.5 19.6 22.6 23.7 21.8 35

36 Currency and deposits -0.1 0.1 -0.0 0.2 -0.1 0.2 0.1 0.2 0.1 -0.0 36

37 Debt securities 3.2 3.5 5.0 5.6 4.0 6.2 9.8 11.0 9.1 10.0 37

38 Open market paper 0.0 0.1 0.1 0.0 0.8 0.8 0.6 0.2 0.0 1.1 38

39 Treasury securities -0.6 -0.7 -0.9 -0.6 -0.8 -0.1 -0.4 -0.3 -0.4 -0.0 39

40 Agency- and GSE-backed securities (2) 0.2 0.7 -0.1 0.3 0.3 0.2 0.4 0.5 0.2 0.6 40

41 Municipal securities 0.1 0.4 1.4 0.9 1.1 1.6 3.5 4.3 3.7 2.5 41

42 Corporate and foreign bonds 3.5 2.9 4.5 4.9 2.5 3.8 5.8 6.3 5.7 6.0 42

43 Loans 5.4 6.0 3.9 3.7 4.6 4.6 2.1 2.3 6.6 7.5 43

44 Short term 0.5 1.4 0.9 1.2 2.5 2.2 1.0 0.9 2.2 2.7 44

45 Long term (mortgages) 4.9 4.6 2.9 2.5 2.1 2.4 1.1 1.4 4.4 4.9 45

46 Equity and investment fund shares 0.8 0.7 1.5 2.3 2.9 3.2 6.4 6.8 6.4 2.4 46

47 Corporate equities 0.8 0.6 1.3 2.1 2.3 2.6 6.5 6.8 5.7 1.5 47

48 Mutual fund shares 0.0 0.0 0.0 0.0 0.4 0.4 -0.4 -0.3 0.2 0.4 48

49 Money market mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

51 U.S. direct investment abroad 0.0 0.0 0.1 0.1 0.2 0.2 0.3 0.4 0.5 0.6 51

52 Insurance, pension and standardized guarantee schemes 0.3 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.4 0.7 52

53 Other accounts receivable 0.3 0.1 0.2 0.5 0.9 0.8 0.8 1.6 1.1 1.2 53

54 Net incurrence of liabilities 9.6 9.8 10.3 11.4 13.5 13.6 16.9 19.2 20.8 21.0 54

55 Currency and deposits (funding agreements) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

56 Loans (short term) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 157

S.63.a Insurance Companies

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

57 Equity and investment fund shares 0.1 0.1 0.1 0.3 0.6 0.4 0.6 0.5 0.6 0.3 57

58 Corporate equity issues 0.1 0.1 0.1 0.2 0.5 0.4 0.6 0.5 0.5 0.9 58

59 Foreign direct investment in the United States -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 -0.6 59

60 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 60

61 Insurance, pension and standardized guarantee schemes 9.1 9.3 9.6 10.6 12.5 12.8 15.8 17.5 19.4 19.6 61

62 Other accounts payable 0.5 0.4 0.6 0.6 0.4 0.3 0.5 1.3 0.8 1.2 62

 Addendum:

63 Net lending (+) or borrowing (-), financial account (lines 35-54) 0.4 0.9 0.5 1.2 -1.0 1.9 2.7 3.4 2.9 0.8 63

 Other changes in volume account

64 Total other volume changes ND ND ND ND ND ND ND ND ND ND 64

65 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 65

66 Other volume changes ND ND ND ND ND ND ND ND ND ND 66

67 Less: Statistical discrepancy (lines 33-63) (3) ND ND ND ND ND ND ND ND ND ND 67

 Revaluation account

68 Nonfinancial assets 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.8 68

69 Structures (nonresidential) 0.0 0.1 0.0 0.1 0.1 0.1 0.2 0.2 0.3 0.5 69

70 Equipment -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.0 -0.0 0.0 0.2 70

71 Intellectual property products -0.0 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.1 71

72 Financial assets 1.0 -2.0 2.7 1.8 -3.5 -1.4 2.5 5.0 -9.0 -12.7 72

73 Corporate equities 1.0 -1.9 2.7 1.8 -3.4 -1.3 2.4 5.0 -8.9 -12.5 73

74 Mutual fund shares 0.0 -0.0 0.0 0.0 -0.1 -0.1 0.1 0.0 -0.1 -0.2 74

75 U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 75

76 Liabilities 0.2 -0.0 0.4 3.4 -0.8 0.8 1.6 1.2 -3.8 -4.0 76

77 Corporate equity issues 0.2 0.0 -0.7 2.9 -0.5 0.2 0.9 -0.6 -2.3 -2.2 77

78 Foreign direct investment in the United States 0.0 -0.1 0.1 0.1 -0.1 0.0 0.1 0.2 0.2 -0.1 78

79 Pension fund reserves 0.0 0.0 1.0 0.5 -0.3 0.5 0.6 1.5 -1.7 -1.7 79

80 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 Changes in net worth due to nominal holding gains/losses 0.8 -1.9 2.3 -1.5 -2.5 -2.0 1.1 4.0 -4.8 -7.9 81

 Changes in balance sheet account

82 Change in net worth (lines 30+33+64+81) 1.5 -0.7 3.8 0.0 -3.2 0.3 4.2 7.8 -1.3 -6.6 82

 Balance sheet account (end of period)

83 Total assets 193.2 202.3 216.7 231.6 241.1 255.7 278.3 306.4 322.0 332.6 83

84 Nonfinancial assets (4) 2.2 2.5 2.8 3.2 3.6 4.1 4.7 5.2 6.0 7.5 84

85 Structures (nonresidential) 1.1 1.3 1.5 1.8 2.0 2.4 2.7 3.1 3.6 4.5 85

86 Equipment 0.9 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 2.1 86

87 Intellectual property products 0.1 0.2 0.2 0.3 0.3 0.4 0.5 0.5 0.6 0.9 87

88 Financial assets 191.0 199.8 213.9 228.4 237.5 251.6 273.6 301.2 316.0 325.1 88

89 Currency and deposits 2.8 2.9 2.9 3.0 3.0 3.2 3.3 3.5 3.6 3.6 89

90 Debt securities 90.6 94.1 99.1 104.6 108.6 114.8 124.6 135.7 144.8 154.8 90

91 Open market paper 0.3 0.4 0.5 0.5 1.4 2.1 2.8 3.0 3.0 4.1 91

92 Treasury securities 10.6 9.9 9.0 8.4 7.6 7.4 7.0 6.7 6.3 6.2 92

93 Agency- and GSE-backed securities (2) 0.8 1.5 1.4 1.7 2.0 2.2 2.5 3.0 3.2 3.7 93

94 Municipal securities 14.9 15.3 16.7 17.6 18.7 20.3 23.8 28.2 31.9 34.3 94

95 Corporate and foreign bonds 64.0 67.0 71.5 76.4 78.9 82.7 88.5 94.7 100.5 106.5 95

96 Loans 67.8 73.9 77.8 81.5 86.1 90.7 92.8 95.1 101.7 109.3 96

97 Short term 7.7 9.1 10.1 11.3 13.8 16.1 17.1 18.0 20.2 22.9 97

98 Long term (mortgages) 60.2 64.8 67.7 70.2 72.2 74.6 75.7 77.1 81.5 86.4 98

99 Equity and investment fund shares 21.7 20.5 24.6 28.7 28.1 29.9 38.8 50.6 48.1 37.8 99

100 Corporate equities 21.0 19.7 23.7 27.6 26.5 27.8 36.6 48.3 45.1 34.1 100

101 Mutual fund shares 0.1 0.1 0.2 0.2 0.6 0.8 0.6 0.3 0.5 0.6 101

102 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 102

103 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 U.S. direct investment abroad 0.6 0.6 0.7 0.9 1.1 1.3 1.6 2.0 2.5 3.1 104

105 Insurance, pension and standardized guarantee schemes 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 7.1 105

106 Other accounts receivable 4.7 4.8 5.7 6.2 7.1 7.9 8.7 10.3 11.4 12.6 106
Inte

g

r

ate

d

A

c

c

o

u

nts

158 Historical Annuals, 1965-1974, March 10, 2016

S.63.a Insurance Companies

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

107 Total liabilities and net worth 193.2 202.3 216.7 231.6 241.1 255.7 278.3 306.4 322.0 332.6 107

108 Liabilities 166.3 176.1 186.7 201.5 214.3 228.6 247.1 267.3 284.2 301.3 108

109 Currency and deposits (funding agreements) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 109

110 Loans (short term) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 110

111 Equity and investment fund shares 3.7 3.8 3.3 6.5 6.4 7.1 8.8 8.9 7.3 5.4 111

112 Corporate equity issues 2.5 2.6 2.0 5.2 5.2 5.8 7.3 7.2 5.4 4.1 112

113 Foreign direct investment in the United States 1.2 1.2 1.2 1.3 1.2 1.3 1.4 1.6 1.9 1.3 113

114 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 114

115 Insurance, pension and standardized guarantee schemes 157.3 166.6 177.2 188.2 200.5 213.8 230.2 249.1 266.8 284.7 115

116 Other accounts payable 5.3 5.7 6.3 6.9 7.4 7.7 8.2 9.3 10.0 11.2 116

117 Net worth 26.9 26.2 30.0 30.0 26.8 27.1 31.3 39.1 37.8 31.3 117

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 159

S.64.a Pension Funds

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation of employees (paid) ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND ND ND ND ND 7

 8 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 9

10 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 10

11 Property income (received) ND ND ND ND ND ND ND ND ND ND 11

12 Interest ND ND ND ND ND ND ND ND ND ND 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND ND ND ND ND 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND ND ND ND ND 15

16 Interest ND ND ND ND ND ND ND ND ND ND 16

17 Distributed income of corporations ND ND ND ND ND ND ND ND ND ND 17

18 Dividends ND ND ND ND ND ND ND ND ND ND 18

19 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND ND ND ND ND 19

20 Reinvested earnings on foreign direct investment ND ND ND ND ND ND ND ND ND ND 20

21 Rents on land and natural resources ND ND ND ND ND ND ND ND ND ND 21

22 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 22

23 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND ND ND ND ND 23

24 Plus: Other current transfers received, net ND ND ND ND ND ND ND ND ND ND 24

25 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 25

26 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND ND ND ND ND 27

28 Net saving ND ND ND ND ND ND ND ND ND ND 28

29 Less: Capital transfers (net) ND ND ND ND ND ND ND ND ND ND 29

30 Capital formation, net ND ND ND ND ND ND ND ND ND ND 30

31 Gross fixed capital formation (nonresidential) ND ND ND ND ND ND ND ND ND ND 31

32 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND ND ND ND ND 33

 Addenda:

34 Other current transfers received, net (line 24) ND ND ND ND ND ND ND ND ND ND 34

35 Contributions received ND ND ND ND ND ND ND ND ND ND 35

36 Claims to pension benefits ND ND ND ND ND ND ND ND ND ND 36

37 Actual employer contributions ND ND ND ND ND ND ND ND ND ND 37

38 Imputed employer contributions ND ND ND ND ND ND ND ND ND ND 38

39 Actual household contributions ND ND ND ND ND ND ND ND ND ND 39

40 Less: pension service charges for defined benefit (DB) plans ND ND ND ND ND ND ND ND ND ND 40

41 Household pension contribution supplements ND ND ND ND ND ND ND ND ND ND 41

42 Less: pension service charge for defined contribution (DC) plans ND ND ND ND ND ND ND ND ND ND 42

43 Less: benefit payments and withdrawals ND ND ND ND ND ND ND ND ND ND 43

44 Less: net change in benefit entitlements from DB plans ND ND ND ND ND ND ND ND ND ND 44

45 Less: net change in assets from current transaction for DC plans ND ND ND ND ND ND ND ND ND ND 45

 Financial account

46 Net lending (+) or borrowing (-) (line 33) ND ND ND ND ND ND ND ND ND ND 46

47 Net acquisition of financial assets 33.6 39.5 43.7 50.0 59.4 55.4 59.4 72.8 71.2 78.3 47

48 Currency and deposits 0.5 0.4 0.8 0.9 0.6 1.1 1.2 2.0 2.6 3.3 48

49 Currency and transferable deposits 0.1 -0.1 0.1 0.2 -0.1 0.2 0.4 0.7 0.4 0.6 49

50 Time and savings deposits 0.4 0.5 0.8 0.7 0.7 0.9 0.9 1.3 2.1 2.7 50

51 Debt securities 4.9 6.5 4.9 5.4 5.8 8.2 4.6 13.8 13.7 17.3 51

52 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 1.3 2.3 52

53 Treasury securities 1.3 1.0 0.0 1.5 0.9 2.0 1.6 4.0 3.0 5.0 53

54 Agency- and GSE-backed securities (2) 0.1 0.2 0.0 0.7 0.4 0.2 -0.2 2.0 2.3 2.4 54

55 Municipal securities -0.3 -0.1 -0.1 -0.0 -0.1 -0.3 0.1 -0.1 -0.3 -0.7 55

56 Corporate and foreign bonds 3.8 5.5 4.9 3.3 4.6 6.3 3.1 6.2 7.3 8.4 56
Inte

g

r

ate

d

A

c

c

o

u

nts

160 Historical Annuals, 1965-1974, March 10, 2016

S.64.a Pension Funds

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

57 Loans 1.4 1.4 0.8 0.5 0.5 0.4 -0.0 0.1 0.7 1.1 57

58 Short term 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.8 0.4 0.5 58

59 Long term (mortgages) 1.3 1.3 0.7 0.3 0.4 0.3 -0.1 -0.7 0.3 0.6 59

60 Equity and investment fund shares 8.8 9.6 12.1 14.2 16.0 6.9 12.3 16.0 8.1 5.1 60

61 Corporate equities 8.8 9.5 12.1 14.2 15.8 6.7 12.1 15.8 7.5 4.4 61

62 Mutual fund shares 0.0 0.1 0.0 0.1 0.2 0.2 0.2 0.3 0.6 0.8 62

63 Money market mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 63

64 Insurance, pension and standardized guarantee schemes 17.5 20.6 24.1 28.2 35.6 38.0 40.4 34.1 42.5 46.8 64

65 Other accounts receivable 0.6 1.0 1.0 0.8 0.8 0.9 0.8 6.7 3.6 4.6 65

66 Net incurrence of liabilities (pension entitlements) 33.6 39.5 43.7 50.0 59.4 55.5 59.4 72.8 71.2 78.3 66

 Addendum:

67 Net lending (+) or borrowing (-), financial account (lines 47-66) -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 67

 Other changes in volume account

68 Total other volume changes ND ND ND ND ND ND ND ND ND ND 68

69 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 69

70 Other volume changes ND ND ND ND ND ND ND ND ND ND 70

71 Less: Statistical discrepancy (lines 33-67) (3) ND ND ND ND ND ND ND ND ND ND 71

 Revaluation account

72 Nonfinancial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 72

73 Structures (nonresidential) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 73

74 Equipment 0.0 0.0 0.0 -0.0 0.0 0.0 -0.0 -0.0 -0.0 0.0 74

75 Intellectual property products 0.0 0.0 0.0 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 75

76 Financial assets -1.2 -10.6 0.7 -1.9 -14.5 1.7 14.9 10.3 -24.2 -27.5 76

77 Corporate equities -1.3 -10.5 0.7 -1.9 -14.3 1.8 14.8 10.2 -23.7 -27.0 77

78 Mutual fund shares 0.0 -0.0 0.1 0.0 -0.1 -0.1 0.1 0.1 -0.4 -0.6 78

79 Liabilities (pension entitlements) -4.5 -6.5 -5.4 -6.9 -9.7 3.3 3.2 1.8 -4.6 -5.1 79

80 Changes in net worth due to nominal holding gains/losses 3.3 -4.0 6.2 5.0 -4.7 -1.7 11.8 8.5 -19.6 -22.4 80

 Changes in balance sheet account

81 Change in net worth (lines 30+33+68+80) -0.1 -0.0 -0.1 -0.2 -0.0 -0.1 -0.3 -0.4 -0.5 -0.8 81

 Balance sheet account (end of period)

82 Total assets 370.0 403.6 439.2 484.5 535.0 597.6 667.2 750.5 794.3 866.8 82

83 Nonfinancial assets (4) 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.3 83

84 Structures (nonresidential) 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 84

85 Equipment 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 85

86 Intellectual property products 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 86

87 Financial assets 369.9 403.5 439.1 484.4 534.9 597.4 667.1 750.3 794.0 866.5 87

88 Currency and deposits 4.2 4.5 5.4 6.3 6.9 8.0 9.3 11.3 13.8 17.1 88

89 Currency and transferable deposits 1.3 1.1 1.2 1.4 1.3 1.5 1.9 2.6 3.0 3.6 89

90 Time and savings deposits 2.9 3.4 4.2 4.9 5.6 6.5 7.4 8.7 10.8 13.5 90

91 Debt securities 72.9 79.4 84.2 89.7 95.4 103.7 108.3 122.1 135.9 153.2 91

92 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.8 3.1 5.4 92

93 Treasury securities 29.4 30.4 30.4 31.9 32.8 34.8 36.4 40.3 43.4 48.4 93

94 Agency- and GSE-backed securities (2) 0.9 1.1 1.1 1.8 2.2 2.4 2.2 4.2 6.5 8.9 94

95 Municipal securities 2.6 2.5 2.4 2.4 2.3 2.0 2.2 2.0 1.7 1.0 95

96 Corporate and foreign bonds 39.9 45.4 50.3 53.6 58.2 64.5 67.6 73.8 81.2 89.5 96

97 Loans 7.7 9.2 10.0 10.4 10.9 11.3 11.3 11.3 12.0 13.1 97

98 Short term 0.6 0.7 0.9 1.0 1.1 1.2 1.3 2.1 2.5 3.0 98

99 Long term (mortgages) 7.1 8.4 9.1 9.4 9.8 10.1 9.9 9.2 9.5 10.1 99

100 Equity and investment fund shares 43.6 42.7 55.5 67.9 69.4 78.0 105.2 131.5 115.5 93.1 100

101 Corporate equities 43.3 42.3 55.0 67.3 68.7 77.2 104.1 130.0 113.8 91.2 101

102 Mutual fund shares 0.4 0.4 0.5 0.6 0.7 0.8 1.2 1.5 1.7 1.9 102

103 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 Insurance, pension and standardized guarantee schemes 237.1 262.4 277.7 303.0 344.2 387.6 423.3 457.6 496.8 565.4 104

105 Other accounts receivable 4.3 5.4 6.4 7.2 8.0 8.9 9.7 16.4 20.1 24.7 105
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 161

S.64.a Pension Funds

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

106 Total liabilities and net worth 370.0 403.6 439.2 484.5 535.0 597.6 667.2 750.5 794.3 866.8 106

107 Liabilities (pension entitlements) 370.5 404.2 439.9 485.4 535.9 598.5 668.5 752.1 796.5 869.8 107

108 Net worth -0.6 -0.6 -0.7 -0.9 -0.9 -1.0 -1.3 -1.7 -2.2 -3.0 108

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land.
Inte

g

r

ate

d

A

c

c

o

u

nts

162 Historical Annuals, 1965-1974, March 10, 2016

S.65.a Other Financial Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Gross value added ND ND ND ND ND ND ND ND ND ND 1

 2 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 2

 3 Equals: Net value added ND ND ND ND ND ND ND ND ND ND 3

 4 Compensation of employees (paid) ND ND ND ND ND ND ND ND ND ND 4

 5 Wages and salaries ND ND ND ND ND ND ND ND ND ND 5

 6 Employers’ social contributions ND ND ND ND ND ND ND ND ND ND 6

 7 Taxes on production and imports less subsidies ND ND ND ND ND ND ND ND ND ND 7

 8 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 8

 9 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 9

10 Operating surplus, net ND ND ND ND ND ND ND ND ND ND 10

11 Property income (received) ND ND ND ND ND ND ND ND ND ND 11

12 Interest ND ND ND ND ND ND ND ND ND ND 12

13 Distributed income of corporations (dividends) ND ND ND ND ND ND ND ND ND ND 13

14 Reinvested earnings on U.S. direct investment abroad ND ND ND ND ND ND ND ND ND ND 14

15 Less: Uses of property income (paid) ND ND ND ND ND ND ND ND ND ND 15

16 Interest ND ND ND ND ND ND ND ND ND ND 16

17 Distributed income of corporations ND ND ND ND ND ND ND ND ND ND 17

18 Dividends ND ND ND ND ND ND ND ND ND ND 18

19 Withdrawals from income of quasi-corporations (1) ND ND ND ND ND ND ND ND ND ND 19

20 Reinvested earnings on foreign direct investment ND ND ND ND ND ND ND ND ND ND 20

21 Rents on land and natural resources ND ND ND ND ND ND ND ND ND ND 21

22 Net national income/Balance of primary incomes, net ND ND ND ND ND ND ND ND ND ND 22

23 Less: Current taxes on income, wealth, etc. (paid) ND ND ND ND ND ND ND ND ND ND 23

24 Less: Other current transfers (paid) ND ND ND ND ND ND ND ND ND ND 24

25 Equals: Disposable income, net ND ND ND ND ND ND ND ND ND ND 25

26 Equals: Net saving ND ND ND ND ND ND ND ND ND ND 26

 Capital account

27 Net saving less capital transfers ND ND ND ND ND ND ND ND ND ND 27

28 Net saving ND ND ND ND ND ND ND ND ND ND 28

29 Less: Capital transfers paid (net) ND ND ND ND ND ND ND ND ND ND 29

30 Capital formation, net ND ND ND ND ND ND ND ND ND ND 30

31 Gross fixed capital formation (nonresidential) ND ND ND ND ND ND ND ND ND ND 31

32 Less: Consumption of fixed capital ND ND ND ND ND ND ND ND ND ND 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) ND ND ND ND ND ND ND ND ND ND 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) ND ND ND ND ND ND ND ND ND ND 34

35 Net acquisition of financial assets 10.1 11.3 5.4 17.7 30.5 23.4 22.7 38.1 55.7 33.1 35

36 Currency and deposits 0.2 0.2 0.3 0.6 0.1 -0.1 0.4 0.2 0.1 1.7 36

37 Debt securities 0.8 3.2 -0.9 0.9 1.1 3.1 -1.6 1.2 3.0 2.6 37

38 Open market paper 0.4 0.5 0.1 0.4 1.1 -0.4 -0.2 1.2 1.8 2.0 38

39 Treasury securities -0.1 2.1 -1.3 1.0 -1.1 2.8 -2.3 -0.9 -0.0 1.0 39

40 Agency- and GSE-backed securities (2) 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.1 0.1 40

41 Municipal securities -0.2 0.0 0.0 0.0 -0.2 0.6 0.1 -0.1 0.2 -0.4 41

42 Corporate and foreign bonds 0.7 0.5 0.1 -0.5 1.3 0.1 0.7 1.0 0.9 -0.2 42

43 Loans 7.7 7.1 4.3 12.9 20.8 11.8 16.6 27.5 36.9 27.9 43

44 Short term 5.8 4.7 1.5 8.8 13.7 1.1 3.4 12.3 18.3 14.3 44

45 Long term (mortgages) 1.9 2.4 2.8 4.2 7.0 10.6 13.1 15.2 18.6 13.6 45

46 Equity and investment fund shares 0.9 1.7 1.0 2.6 6.9 5.6 6.5 6.4 8.5 9.5 46

47 Corporate equities 0.7 1.5 1.0 2.5 2.8 -0.4 0.9 -2.1 0.5 0.7 47

48 Money market mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

49 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 U.S. direct investment abroad 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 50

51 Investment in subsidiaries 0.0 0.0 0.0 0.0 4.0 6.0 5.6 8.4 7.9 8.7 51

52 Insurance, pension and standardized guarantee schemes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 52

53 Other accounts receivable 0.5 -1.0 0.6 0.7 1.6 3.0 1.0 2.8 7.2 -8.6 53

54 Net incurrence of liabilities 9.2 10.5 4.4 16.8 30.0 22.8 22.3 38.1 56.2 33.6 54

55 Currency and deposits -0.2 -0.0 0.4 -0.0 -0.3 1.3 -0.5 -0.2 0.2 0.6 55
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 163

S.65.a Other Financial Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

56 Debt securities 3.7 10.5 2.8 7.0 21.3 10.9 9.7 16.6 30.3 31.6 56

57 Agency- and GSE-backed securities (2) 2.2 5.5 0.1 3.8 9.7 9.8 5.9 8.4 19.9 21.1 57

58 Corporate bonds 0.4 1.5 0.7 0.3 1.2 2.4 3.9 6.3 5.4 6.8 58

59 Commercial paper 1.2 3.5 2.0 2.9 10.3 -1.3 -0.1 1.9 4.9 3.8 59

60 Loans 3.9 -0.0 2.7 5.6 -1.7 3.3 2.8 10.9 3.7 -0.2 60

61 Short term 3.9 -0.0 2.7 5.4 -1.9 3.2 2.7 10.4 3.4 -0.3 61

62 Long term (mortgages) 0.0 0.0 0.0 0.2 0.2 0.1 0.1 0.5 0.3 0.1 62

63 Equity and investment fund shares 1.5 3.1 0.3 3.2 4.7 0.7 2.7 2.2 7.8 6.2 63

64 Money market mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 64

65 Corporate equity issues -0.7 0.3 -0.8 0.9 1.1 -0.9 1.9 1.0 3.8 0.3 65

66 Mutual fund shares 2.2 2.5 1.1 2.5 3.3 1.6 0.1 -1.5 -1.1 0.1 66

67 Equity in government-sponsored enterprises (2) 0.1 0.3 0.1 -0.2 0.2 -0.0 0.1 0.2 0.5 0.7 67

68 Foreign direct investment in the United States -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.3 68

69 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.7 0.8 69

70 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.6 2.4 3.9 1.7 70

71 Other accounts payable 0.3 -3.1 -1.9 1.1 6.1 6.6 7.6 8.7 14.2 -4.6 71

 Addendum:

72 Net lending (+) or borrowing (-), financial account (lines 35-53) 0.9 0.8 1.0 0.9 0.5 0.6 0.4 0.1 -0.5 -0.5 72

 Other changes in volume account

73 Total other volume changes ND ND ND ND ND ND ND ND ND ND 73

74 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 -0.1 -0.0 -0.0 74

75 Other volume changes ND ND ND ND ND ND ND ND ND ND 75

76 Less: Statistical discrepancy (lines 33-71) (3) ND ND ND ND ND ND ND ND ND ND 76

 Revaluation account

77 Nonfinancial assets 0.3 0.5 0.5 1.0 1.2 1.3 1.9 1.9 2.5 6.0 77

78 Structures (nonresidential) 0.3 0.5 0.4 1.0 1.1 1.2 2.0 1.7 2.3 4.4 78

79 Equipment -0.0 -0.0 0.1 0.1 0.2 0.1 -0.0 0.2 0.2 1.5 79

80 Intellectual property products -0.0 -0.0 0.0 -0.0 0.0 0.0 -0.0 0.0 0.0 0.1 80

81 Financial assets 4.5 -3.7 9.7 5.2 -8.0 -2.4 9.3 5.9 -12.7 -14.0 81

82 Corporate equities 4.5 -3.7 9.7 5.2 -8.0 -2.4 9.3 5.9 -12.7 -14.0 82

83 U.S. direct investment abroad 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 83

84 Liabilities 14.5 -1.2 19.3 29.3 -26.1 -8.4 25.5 19.5 -55.3 -64.6 84

85 Corporate equity issues 10.5 1.7 10.9 24.9 -19.0 -6.0 17.0 14.5 -44.4 -53.0 85

86 Mutual fund shares 4.0 -2.9 8.4 4.4 -7.0 -2.4 8.5 4.9 -11.2 -11.5 86

87 Foreign direct investment in the United States 0.0 -0.1 0.0 -0.0 -0.1 -0.0 0.0 0.0 -0.0 -0.0 87

88 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 -0.0 88

89 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 89

90 Changes in net worth due to nominal holding gains/losses -9.7 -2.0 -9.1 -23.1 19.3 7.4 -14.3 -11.7 45.1 56.6 90

 Changes in balance sheet account

91 Change in net worth (lines 30+33+72+89) -7.9 0.0 -7.1 -20.5 25.6 15.2 -10.7 -2.7 57.8 64.2 91

 Balance sheet account (end of period)

92 Total assets 137.3 146.6 163.2 188.8 214.2 238.1 273.7 321.5 370.0 398.0 92

93 Nonfinancial assets (4) 14.9 16.4 18.1 21.0 23.8 26.8 30.6 34.6 39.8 49.1 93

94 Structures (nonresidential) 12.0 13.0 14.0 16.0 17.9 19.9 22.8 25.7 29.4 35.6 94

95 Equipment 2.8 3.3 3.9 4.6 5.5 6.2 6.9 7.9 9.2 11.9 95

96 Intellectual property products 0.2 0.2 0.3 0.4 0.5 0.7 0.8 1.0 1.2 1.5 96

97 Financial assets 122.3 130.1 145.0 167.8 190.4 211.3 243.1 286.9 330.2 348.9 97

98 Currency and deposits 2.9 3.1 3.4 4.0 4.0 3.9 4.3 4.5 4.6 6.3 98

99 Debt securities 10.8 14.0 13.1 14.0 15.1 18.2 16.6 17.8 20.8 23.3 99

100 Open market paper 1.0 1.5 1.6 2.0 3.2 2.8 2.6 3.8 5.6 7.6 100

101 Treasury securities 4.2 6.4 5.1 6.1 5.0 7.8 5.5 4.6 4.6 5.6 101

102 Agency- and GSE-backed securities (2) 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.4 102

103 Municipal securities 0.5 0.5 0.5 0.5 0.4 0.9 1.0 0.9 1.1 0.7 103

104 Corporate and foreign bonds 5.0 5.5 5.6 5.1 6.4 6.5 7.3 8.2 9.2 9.0 104

105 Loans 66.4 73.5 77.9 90.8 111.6 123.3 139.9 167.4 204.3 230.8 105

106 Short term 54.3 59.0 60.5 69.2 82.9 84.1 87.5 99.8 118.0 132.0 106

107 Long term (mortgages) 12.1 14.6 17.4 21.6 28.6 39.3 52.4 67.6 86.2 98.8 107
Inte

g

r

ate

d

A

c

c

o

u

nts

164 Historical Annuals, 1965-1974, March 10, 2016

S.65.a Other Financial Business

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

108 Equity and investment fund shares 38.8 36.9 47.7 55.4 54.3 57.6 73.4 85.6 81.4 76.9 108

109 Corporate equities 37.6 35.5 46.2 53.9 48.7 46.0 56.1 59.9 47.7 34.4 109

110 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 110

111 Equity in government-sponsored enterprises (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 111

112 U.S. direct investment abroad 1.2 1.4 1.4 1.5 1.6 1.6 1.7 1.8 1.9 2.0 112

113 Investment in subsidiaries 0.0 0.0 0.0 0.0 4.0 10.0 15.6 24.0 31.8 40.5 113

114 Insurance, pension and standardized guarantee schemes 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 114

115 Other accounts receivable 3.5 2.6 3.0 3.6 5.4 8.3 9.0 11.7 19.2 11.6 115

116 Total liabilities and net worth 137.3 146.6 163.2 188.8 214.2 238.1 273.7 321.5 370.0 398.0 116

117 Liabilities 162.5 171.8 195.5 241.6 241.5 250.2 296.5 347.0 337.7 301.5 117

118 Currency and deposits 1.0 1.0 1.4 1.4 1.0 2.3 1.8 1.5 1.7 2.4 118

119 Debt securities 38.4 48.9 51.7 58.7 80.0 90.9 100.6 117.2 147.4 178.0 119

120 Agency- and GSE-backed securities (2) 14.7 20.2 20.3 24.1 33.8 43.6 49.5 57.9 77.9 97.9 120

121 Corporate bonds 15.1 16.6 17.3 17.7 18.9 21.3 25.2 31.5 36.9 43.7 121

122 Commercial paper 8.5 12.0 14.1 16.9 27.2 25.9 25.9 27.8 32.7 36.5 122

123 Loans 20.8 20.8 23.5 29.1 27.4 30.7 33.5 44.5 48.2 48.0 123

124 Short term 20.8 20.8 23.5 28.9 26.9 30.2 32.9 43.4 46.8 46.4 124

125 Long term (mortgages) 0.0 0.0 0.0 0.2 0.4 0.5 0.7 1.2 1.5 1.6 125

126 Equity and investment fund shares 92.0 93.9 113.5 146.0 124.6 116.9 145.2 166.9 119.4 61.0 126

127 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.4 127

128 Corporate equity issues 54.4 56.5 66.5 92.3 74.4 67.5 86.4 101.9 61.4 8.7 128

129 Mutual fund shares 35.2 34.8 44.3 51.2 47.6 46.8 55.4 58.9 46.6 35.2 129

130 Equity in government-sponsored enterprises (2) 2.0 2.3 2.4 2.2 2.4 2.4 2.5 2.7 3.3 4.0 130

131 Foreign direct investment in the United States 0.3 0.3 0.3 0.3 0.2 0.2 0.3 0.3 0.3 0.6 131

132 Equity in noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1.0 1.7 132

133 Investment by parent 0.0 0.0 0.0 0.0 0.0 0.0 0.6 3.0 6.8 8.5 133

134 Other accounts payable 10.4 7.3 5.4 6.4 8.5 9.3 15.4 16.9 20.9 12.1 134

135 Net worth -25.3 -25.3 -32.4 -52.9 -27.2 -12.1 -22.8 -25.5 32.3 96.5 135

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

 they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 165

S.7.a Federal Government

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Gross value added 59.3 65.5 71.3 78.3 83.6 89.5 95.1 101.2 104.7 112.5 1

 2 Less: Consumption of fixed capital 20.0 21.0 22.4 24.1 25.8 27.6 29.0 30.1 31.7 34.7 2

 3 Equals: Net value added 39.3 44.5 48.8 54.2 57.8 61.9 66.1 71.1 73.0 77.8 3

 4 Compensation of employees (paid) 40.2 45.7 50.1 55.2 59.1 64.3 68.9 73.5 76.4 81.1 4

 5 Wages and salaries 31.5 35.8 39.1 43.1 46.0 49.6 51.5 55.0 57.2 60.5 5

 6 Employers’ social contributions 8.7 9.9 11.0 12.1 13.0 14.7 17.4 18.5 19.2 20.6 6

 7 Operating surplus, net -0.9 -1.2 -1.3 -1.0 -1.3 -2.5 -2.8 -2.4 -3.4 -3.3 7

 8 Net national income/Balance of primary incomes, net -5.0 -8.7 -9.2 -9.8 -12.6 -19.3 -20.1 -24.3 -28.0 -29.8 8

 9 Operating surplus, net -0.9 -1.2 -1.3 -1.0 -1.3 -2.5 -2.8 -2.4 -3.4 -3.3 9

10 Taxes on production and imports, receivable 15.4 14.4 15.2 16.9 17.8 18.1 19.0 18.5 19.8 20.1 10

11 Subsidies (paid) -3.0 -3.9 -3.8 -4.1 -4.5 -4.8 -4.6 -6.6 -5.1 -3.2 11

12 Property income (received) 2.0 2.2 2.6 3.1 2.8 3.2 3.6 3.8 4.0 4.5 12

13 Interest 1.8 2.0 2.3 2.7 2.5 2.8 3.1 3.3 3.4 3.6 13

14 Distributed income of corporations (dividends) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Rents on land and natural resources 0.2 0.2 0.3 0.3 0.3 0.4 0.5 0.5 0.7 0.9 15

16 Less: Uses of property income (interest paid) 18.6 20.3 21.9 24.6 27.5 33.3 35.2 37.6 43.3 48.0 16

17 Net national income/Balance of primary incomes, net -5.0 -8.7 -9.2 -9.8 -12.6 -19.3 -20.1 -24.3 -28.0 -29.8 17

18 Plus: Current taxes on income, wealth, etc. (received) 80.2 90.3 94.7 112.8 128.2 119.8 119.6 139.8 153.2 172.0 18

19 Plus: Social benefits (received) 22.7 30.6 34.1 37.9 43.3 45.5 50.3 58.3 74.5 84.1 19

20 Less: Social contributions (paid) 27.7 30.3 37.1 42.4 46.3 56.4 66.9 73.8 85.7 104.6 20

21 Plus: Other current transfers (received) 0.9 1.0 1.0 1.0 1.0 1.0 0.9 1.1 1.0 1.1 21

22 Less: Other current transfers (paid) 10.1 13.4 14.9 16.4 18.2 23.2 28.2 37.7 38.9 40.9 22

23 Equals: Disposable income, net 61.0 69.5 68.5 83.1 95.3 67.5 55.8 63.3 76.2 81.8 23

24 Less: Final consumption expenditures 66.5 76.5 88.0 96.8 100.4 102.3 106.6 112.2 113.9 122.5 24

25 Equals: Net saving -5.5 -7.0 -19.5 -13.7 -5.1 -34.8 -50.8 -48.9 -37.7 -40.6 25

 Capital account

26 Net saving less capital transfers -6.7 -8.3 -20.7 -16.6 -7.4 -36.3 -52.2 -49.6 -38.6 -43.8 26

27 Net saving -5.5 -7.0 -19.5 -13.7 -5.1 -34.8 -50.8 -48.9 -37.7 -40.6 27

28 Less: Capital transfers paid (net) 1.2 1.3 1.2 2.9 2.3 1.6 1.4 0.7 0.9 3.1 28

29 Capital formation, net 7.2 9.7 9.3 6.1 5.1 2.6 -1.6 -1.4 -3.3 -4.7 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 26.7 30.1 31.9 31.1 30.7 30.5 27.8 29.3 31.7 35.7 30

31 Less: Consumption of fixed capital 20.0 21.0 22.4 24.1 25.8 27.6 29.0 30.1 31.7 34.7 31

32 Acquisition of nonproduced nonfinancial assets 0.5 0.6 -0.2 -0.9 0.1 -0.3 -0.4 -0.7 -3.2 -5.7 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -13.9 -18.0 -30.0 -22.7 -12.5 -39.0 -50.5 -48.1 -35.3 -39.1 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -13.9 -18.0 -30.0 -22.7 -12.5 -39.0 -50.5 -48.1 -35.3 -39.1 34

35 Net acquisition of financial assets 3.2 4.7 1.9 6.2 3.9 1.6 4.6 0.4 4.6 4.2 35

36 Monetary gold and SDRs -0.0 0.0 0.0 0.4 1.0 -0.3 -0.0 0.7 -0.0 0.1 36

37 Monetary gold -0.0 0.0 0.0 0.4 1.0 -1.2 -0.3 -0.0 0.0 -0.1 37

38 SDR holdings 0.0 0.0 0.0 0.0 0.0 0.9 0.2 0.7 -0.0 0.2 38

39 Currency and deposits -1.3 -0.4 0.9 -0.8 1.9 2.3 1.8 -1.2 -1.4 -3.8 39

40 Official foreign currencies 0.2 0.3 0.5 0.6 -0.4 -1.1 -0.2 0.0 -0.1 0.0 40

41 Reserve position in IMF (net) 0.1 -0.5 0.1 0.9 1.0 -0.4 -1.3 -0.2 0.0 1.3 41

42 Currency and transferable deposits -1.6 -0.4 0.5 -2.3 1.6 3.5 3.5 -1.0 -1.8 -4.6 42

43 Time and savings deposits -0.0 -0.0 0.0 0.1 -0.2 0.3 0.1 0.1 -0.2 0.0 43

44 Nonofficial foreign currencies 0.0 0.3 -0.2 -0.1 -0.1 0.0 -0.2 -0.2 0.6 -0.5 44

45 Debt securities 0.0 1.3 -0.1 0.1 -1.3 -0.1 0.0 -0.0 -0.0 -0.0 45

46 Agency- and GSE-backed securities 0.0 1.3 -0.1 0.1 -1.3 -0.1 0.0 -0.0 -0.0 -0.0 46

47 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

48 Loans 2.9 3.9 4.6 5.1 4.4 2.9 2.8 1.8 3.9 6.4 48

49 Short term 2.9 2.9 3.6 3.7 3.5 2.6 3.2 2.5 4.4 3.7 49

50 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

51 Other loans and advances 2.9 2.9 3.6 3.7 3.5 2.6 3.2 2.5 4.4 3.7 51

52 Long term (mortgages) -0.0 1.0 0.9 1.4 1.0 0.3 -0.4 -0.7 -0.6 2.7 52

53 Equity and investment fund shares -0.0 -0.0 0.2 -0.2 0.2 0.2 0.2 0.3 0.4 0.5 53

54 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 54

55 Equity in international organizations 0.0 -0.1 0.2 0.1 0.2 0.2 0.2 0.3 0.4 0.5 55

56 Equity in government-sponsored enterprises (1) -0.0 0.1 -0.0 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57
Inte

g

r

ate

d

A

c

c

o

u

nts

166 Historical Annuals, 1965-1974, March 10, 2016

S.7.a Federal Government

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

58 Other accounts receivable 1.6 -0.2 -3.7 1.4 -2.3 -3.5 -0.3 -1.2 1.8 1.0 58

59 Trade receivables 0.4 1.2 1.5 0.6 0.9 -0.8 -1.7 -0.8 0.3 1.0 59

60 Taxes receivable 1.2 -1.4 -5.1 0.8 -3.2 -2.7 1.4 -0.4 1.5 -0.0 60

61 Other (miscellaneous assets) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 61

62 Net incurrence of liabilities 17.0 20.8 31.4 32.0 17.1 38.5 54.5 46.8 39.3 43.9 62

63 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 0.7 0.7 0.0 0.0 63

64 Currency and deposits 0.2 0.7 0.6 0.4 0.3 0.2 0.5 0.5 0.4 0.4 64

65 Debt securities 2.9 4.9 14.3 13.9 -1.6 14.5 27.8 18.1 9.2 14.7 65

66 Treasury securities 2.5 3.6 10.2 10.8 0.7 15.5 28.8 17.2 8.7 14.9 66

67 Federal agency securities 0.4 1.4 4.2 3.2 -2.3 -1.0 -1.1 0.9 0.4 -0.1 67

68 Loans (mortgages) 0.0 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 -0.1 68

69 Insurance, pension and standardized guarantee schemes 13.3 14.6 15.8 17.0 18.9 23.1 25.8 27.4 29.3 29.4 69

70 Insurance reserves 0.1 0.1 0.1 -0.0 0.1 0.1 0.1 0.2 0.2 0.1 70

71 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 71

72 Claims of pension fund on sponsor 13.2 14.5 15.7 17.0 18.9 22.9 25.8 27.2 29.2 29.2 72

73 Other accounts payable 0.6 0.6 0.8 0.7 -0.4 -0.1 -0.3 0.2 0.4 -0.6 73

74 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.0 0.0 0.0 0.0 74

75 Trade payables 0.6 0.8 0.7 -0.0 -0.1 -1.0 -1.1 0.2 0.8 -0.6 75

76 Other (miscellaneous liabilities) 0.0 -0.1 0.2 0.7 -0.4 0.5 0.8 0.0 -0.4 -0.0 76

 Addendum:

77 Net lending (+) or borrowing (-), financial account (lines 35-62) -13.8 -16.1 -29.5 -25.8 -13.2 -36.9 -49.8 -46.4 -34.7 -39.7 77

 Other changes in volume account

78 Total other volume changes -1.3 -0.2 6.7 -1.7 1.1 -3.6 3.5 4.5 3.4 4.7 78

79 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 79

80 Other volume changes -1.4 -2.0 6.3 1.5 1.9 -5.7 2.8 2.8 2.8 5.3 80

81 Less: Statistical discrepancy (lines 33-77) (2) -0.1 -1.9 -0.4 3.1 0.7 -2.1 -0.7 -1.7 -0.7 0.6 81

 Revaluation account

82 Nonfinancial assets 4.7 7.0 11.1 12.8 18.4 24.1 23.0 32.2 41.2 67.0 82

83 Structures 3.0 4.8 7.5 7.9 10.9 13.0 13.2 21.5 25.7 44.4 83

84 Equipment 1.5 1.9 2.7 2.8 3.7 5.9 5.7 6.5 6.4 10.5 84

85 Intellectual property products 0.2 0.3 0.9 2.1 3.7 5.2 4.1 4.1 9.0 12.0 85

86 Financial assets 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.3 0.1 86

87 Monetary gold and SDRs 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.0 87

88 Currency and deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 88

89 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 89

90 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 90

91 Liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.3 0.0 91

92 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.3 0.0 92

93 Changes in net worth due to nominal holding gains/losses 4.7 7.0 11.1 12.8 18.4 24.1 22.9 32.2 41.2 67.0 93

 Changes in balance sheet account

94 Change in net worth (lines 29+33+78+93) -3.2 -1.4 -2.9 -5.4 12.1 -15.8 -25.8 -12.9 6.0 28.0 94

 Balance sheet account (end of period)

95 Total assets 323.8 343.5 371.9 397.6 425.6 454.6 482.1 515.8 561.4 635.9 95

96 Nonfinancial assets (3) 262.5 278.6 299.2 319.0 342.3 369.3 391.0 422.4 463.6 531.6 96

97 Structures 119.0 125.6 134.1 142.7 154.2 167.6 181.7 204.2 231.0 276.3 97

98 Equipment 92.6 95.5 100.3 103.2 105.6 109.8 109.8 111.0 113.0 121.3 98

99 Intellectual property products 50.9 57.5 64.8 73.1 82.4 91.9 99.5 107.3 119.6 134.0 99

100 Financial assets 61.3 64.9 72.7 78.6 83.3 85.3 91.1 93.3 97.8 104.3 100

101 Monetary gold and SDRs 0.3 0.1 0.1 0.5 1.5 1.2 1.3 2.0 2.3 2.4 101

102 Monetary gold 0.3 0.1 0.1 0.5 1.5 0.3 0.1 0.1 0.1 0.0 102

103 SDR holdings 0.0 0.0 0.0 0.0 0.0 0.9 1.2 2.0 2.2 2.4 103
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 167

S.7.a Federal Government

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

104 Currency and deposits 12.0 11.6 13.0 12.2 14.2 16.5 18.3 18.0 17.8 14.2 104

105 Official foreign currencies 0.2 0.4 0.7 1.5 0.8 0.4 0.3 0.0 0.0 0.0 105

106 Reserve position in IMF (net) 0.9 0.4 0.5 1.3 2.4 2.0 0.7 0.5 0.6 1.9 106

107 Currency and transferable deposits 6.8 6.4 7.5 5.1 6.9 9.8 13.2 13.3 12.6 8.3 107

108 Time and savings deposits 0.3 0.2 0.3 0.4 0.2 0.5 0.5 0.6 0.4 0.5 108

109 Nonofficial foreign currencies 3.9 4.2 4.0 3.9 3.8 3.8 3.7 3.5 4.1 3.6 109

110 Debt securities 0.0 1.4 1.3 1.4 0.1 0.0 0.0 0.0 0.0 0.0 110

111 Agency- and GSE-backed securities 0.0 1.4 1.3 1.4 0.1 0.0 0.0 0.0 0.0 0.0 111

112 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112

113 Loans 37.5 41.4 46.0 50.8 55.3 58.2 60.3 62.1 64.8 72.2 113

114 Short term 31.7 34.6 38.2 41.6 45.0 47.6 50.1 52.7 55.9 59.6 114

115 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 115

116 Other loans and advances 31.7 34.6 38.2 41.6 45.0 47.6 50.1 52.7 55.9 59.6 116

117 Long term (mortgages) 5.9 6.9 7.8 9.3 10.2 10.5 10.2 9.5 8.9 12.6 117

118 Equity and investment fund shares 1.5 1.5 1.7 1.5 1.7 1.9 2.2 2.4 2.8 3.4 118

119 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 119

120 Equity in international organizations 1.3 1.2 1.4 1.5 1.7 1.9 2.2 2.4 2.8 3.4 120

121 Equity in government-sponsored enterprises (1) 0.2 0.3 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 121

122 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 Other accounts receivable 9.9 8.9 10.7 12.1 10.6 7.5 9.0 8.7 10.1 12.1 123

124 Trade receivables 3.1 4.4 5.8 6.4 7.3 6.6 4.9 4.0 4.3 5.3 124

125 Taxes receivable 6.8 4.5 4.8 5.7 3.3 0.9 4.1 4.7 5.8 6.8 125

126 Other (miscellaneous assets) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 126

127 Total liabilities and net worth 323.8 343.5 371.9 397.6 425.6 454.6 482.1 515.8 561.4 635.9 127

128 Liabilities 475.4 496.4 527.7 558.9 574.7 619.6 672.9 719.4 759.0 805.5 128

129 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 1.7 2.5 2.8 2.8 129

130 Currency and deposits 3.4 4.1 4.7 5.1 5.3 5.6 6.0 6.6 7.0 7.3 130

131 Debt securities 279.4 284.3 298.6 312.6 311.0 325.5 353.3 371.4 380.6 395.3 131

132 Treasury securities 276.7 280.3 290.5 301.2 302.0 317.5 346.3 363.5 372.2 387.1 132

133 Federal agency securities 2.7 4.0 8.2 11.3 9.0 8.1 7.0 7.9 8.4 8.2 133

134 Loans (mortgages) 1.8 1.8 1.7 1.7 1.6 1.5 1.4 1.3 1.3 1.2 134

135 Insurance, pension and standardized guarantee schemes 185.4 199.7 215.2 231.9 249.5 280.1 305.4 332.5 361.5 390.7 135

136 Insurance reserves 7.0 7.1 7.2 7.2 7.3 7.4 7.4 7.6 7.8 7.9 136

137 Retiree Health Care Funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 137

138 Claims of pension fund on sponsor 178.4 192.6 208.0 224.7 242.3 272.7 298.0 324.9 353.8 382.8 138

139 Other accounts payable 5.3 6.5 7.5 7.7 7.3 6.1 4.9 5.1 5.9 8.3 139

140 SDR certificates 0.0 0.0 0.0 0.0 0.0 0.4 0.4 0.4 0.4 0.4 140

141 Trade payables 5.0 5.8 6.5 6.5 6.4 5.4 4.2 4.4 5.2 6.2 141

142 Other (miscellaneous liabilities) 0.2 0.7 1.0 1.2 0.9 0.3 0.3 0.3 0.3 1.7 142

143 Net worth -151.5 -153.0 -155.8 -161.3 -149.2 -165.0 -190.8 -203.7 -197.6 -169.7 143

Note. The Federal government accounts exclude Federal employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.

IMF International Monetary Fund

SDRs Special Drawing Rights
Inte

g

r

ate

d

A

c

c

o

u

nts

168 Historical Annuals, 1965-1974, March 10, 2016

S.8.a State and Local Governments

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Gross value added 51.6 57.2 63.1 71.4 79.8 90.2 101.1 112.2 123.5 137.1 1

 2 Less: Consumption of fixed capital 6.4 7.1 7.8 8.6 9.7 10.9 12.2 13.3 14.9 18.3 2

 3 Equals: Net value added 45.1 50.1 55.4 62.8 70.2 79.2 88.9 98.9 108.6 118.7 3

 4 Compensation of employees (paid) 43.6 48.6 53.9 61.4 68.9 78.0 87.8 97.7 107.4 118.2 4

 5 Wages and salaries 38.4 42.5 47.4 53.5 59.6 67.6 75.3 82.8 91.6 100.0 5

 6 Employers’ social contributions 5.2 6.1 6.6 7.9 9.4 10.4 12.5 14.8 15.8 18.1 6

 7 Operating surplus, net 1.6 1.5 1.4 1.3 1.3 1.3 1.1 1.2 1.2 0.6 7

 8 Net national income/Balance of primary incomes, net 44.6 47.9 52.0 58.3 65.1 72.0 78.6 85.5 94.1 101.3 8

 9 Operating surplus, net 1.6 1.5 1.4 1.3 1.3 1.3 1.1 1.2 1.2 0.6 9

10 Taxes on production and imports, receivable 45.3 48.8 52.8 59.5 66.0 73.3 81.5 89.4 97.4 104.8 10

11 Subsidies (paid) -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.1 -0.1 -0.1 11

12 Property income (received) 2.2 2.6 3.0 3.5 4.3 5.2 5.5 5.9 7.8 10.2 12

13 Interest 1.8 2.1 2.4 2.8 3.6 4.3 4.6 4.9 6.6 8.9 13

14 Distributed income of corporations (dividends) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

15 Rents on land and natural resources 0.4 0.5 0.6 0.7 0.8 0.8 0.9 1.0 1.1 1.3 15

16 Less: Uses of property income (interest paid) 4.5 4.9 5.2 6.0 6.6 7.7 9.4 11.1 12.2 14.2 16

17 Net national income/Balance of primary incomes, net 44.6 47.9 52.0 58.3 65.1 72.0 78.6 85.5 94.1 101.3 17

18 Plus: Current taxes on income, wealth, etc. (received) 8.6 10.0 11.2 13.9 16.4 18.0 20.2 26.1 28.9 31.2 18

19 Plus: Social benefits (received) 0.8 0.8 0.9 0.9 1.0 1.1 1.2 1.3 1.5 1.7 19

20 Less: Social contributions (paid) 6.7 7.6 9.2 11.4 13.2 16.1 19.3 22.0 24.1 25.3 20

21 Plus: Other current transfers (received) 7.4 10.4 12.3 13.3 15.3 20.1 24.1 32.8 36.1 37.9 21

22 Less: Other current transfers (paid) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

23 Equals: Disposable income, net 54.7 61.5 67.1 75.0 84.5 95.1 104.8 123.8 136.5 146.8 23

24 Less: Final consumption expenditures 50.6 56.4 62.4 70.7 80.4 92.1 104.2 115.4 126.8 144.5 24

25 Equals: Net saving 4.1 5.2 4.7 4.3 4.1 3.0 0.6 8.4 9.6 2.3 25

 Capital account

26 Net saving less capital transfers 8.8 10.3 9.8 11.1 10.9 9.2 7.6 15.7 17.0 11.5 26

27 Net saving 4.1 5.2 4.7 4.3 4.1 3.0 0.6 8.4 9.6 2.3 27

28 Less: Capital transfers paid (net) -4.7 -5.1 -5.1 -6.8 -6.8 -6.2 -7.0 -7.3 -7.3 -9.2 28

29 Capital formation, net 16.0 17.7 19.3 20.9 20.1 19.5 20.1 19.7 20.9 24.0 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 21.2 23.5 25.7 28.1 28.8 29.3 30.7 31.3 34.0 40.5 30

31 Less: Consumption of fixed capital 6.4 7.1 7.8 8.6 9.7 10.9 12.2 13.3 14.9 18.3 31

32 Acquisition of nonproduced nonfinancial assets 1.3 1.4 1.4 1.4 1.0 1.1 1.6 1.7 1.7 1.9 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -7.2 -7.4 -9.5 -9.8 -9.2 -10.3 -12.5 -4.0 -3.9 -12.6 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -7.2 -7.4 -9.5 -9.8 -9.2 -10.3 -12.5 -4.0 -3.9 -12.6 34

35 Net acquisition of financial assets 6.2 4.0 3.4 5.8 6.1 4.2 9.2 17.0 22.2 9.5 35

36 Currency and deposits 1.8 1.8 3.1 2.4 -3.9 8.9 8.0 7.3 6.6 5.2 36

37 Currency and transferable deposits -0.6 0.5 0.8 -0.7 1.9 -1.0 0.8 0.5 0.0 0.2 37

38 Time and savings deposits 2.4 1.3 2.3 3.1 -5.8 10.0 7.2 6.7 6.6 5.0 38

39 Debt securities 2.3 -0.2 0.0 3.6 4.5 -2.3 -2.8 5.3 8.0 4.1 39

40 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Treasury securities 2.2 0.6 -0.4 0.2 3.1 -0.1 -0.4 2.3 1.2 0.5 41

42 Agency- and GSE-backed securities (1) 0.2 -0.7 0.4 3.4 1.4 -2.3 -2.2 3.3 6.6 3.1 42

43 Municipal securities -0.1 -0.0 0.0 0.0 0.1 0.1 -0.3 -0.3 0.2 0.5 43

44 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 44

45 Loans 1.2 1.7 -0.4 -1.3 4.3 -3.1 1.6 1.3 3.1 0.7 45

46 Short term 1.1 1.5 -0.5 -1.5 3.9 -4.0 0.6 -0.1 1.4 -1.8 46

47 Long term (mortgages) 0.2 0.2 0.1 0.2 0.5 0.9 1.1 1.4 1.7 2.5 47

48 Equity and investment fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

49 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 49

50 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

51 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 51

52 Other accounts receivable 0.8 0.8 0.7 1.0 1.1 0.6 2.3 3.1 4.4 -0.4 52

53 Trade receivables 0.8 0.6 0.6 0.9 1.2 0.6 0.9 1.5 2.8 -2.0 53

54 Taxes receivable 0.1 0.0 0.1 0.2 0.0 0.1 1.2 1.8 1.6 1.7 54

55 Other (miscellaneous assets) -0.0 0.1 0.0 -0.1 -0.1 -0.0 0.1 -0.1 -0.0 -0.1 55
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 169

S.8.a State and Local Governments

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

56 Net incurrence of liabilities 12.0 11.1 12.5 15.0 19.2 19.6 26.3 24.5 24.6 26.6 56

57 Debt securities (municipals) 7.2 6.2 7.2 8.4 11.4 12.0 16.1 13.6 13.8 12.8 57

58 Short term 0.6 0.7 1.8 0.1 2.8 2.3 2.5 0.1 0.3 2.7 58

59 Other 6.6 5.6 5.3 8.3 8.6 9.6 13.6 13.6 13.5 10.0 59

60 Loans (short term) 0.3 0.6 0.2 0.3 0.7 0.1 0.4 0.3 0.3 0.7 60

61 Insurance, pension and standardized guarantee schemes 3.1 2.7 3.5 4.4 5.1 5.4 7.5 8.0 7.7 9.8 61

 (Claim of pension funds on sponsor)

62 Other accounts payable (trade payables) 1.4 1.5 1.7 1.9 2.0 2.2 2.4 2.5 2.8 3.3 62

 Addendum:

63 Net lending (+) or borrowing (-), financial account (lines 35-56) -5.8 -7.1 -9.1 -9.2 -13.1 -15.4 -17.1 -7.4 -2.3 -17.0 63

 Other changes in volume account

64 Total other volume changes 0.2 -2.2 1.7 -2.9 -7.3 -1.9 -11.9 -11.4 16.5 -13.0 64

65 Disaster losses 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 65

66 Other volume changes -1.2 -2.5 1.3 -3.5 -3.4 3.3 -7.3 -7.9 14.9 -8.5 66

67 Less: Statistical discrepancy (lines 33-63) (2) -1.3 -0.3 -0.4 -0.6 3.9 5.1 4.6 3.4 -1.6 4.5 67

 Revaluation account

68 Nonfinancial assets 8.7 13.9 11.7 18.9 31.0 43.2 32.6 35.1 69.7 162.2 68

69 Structures 8.7 13.7 11.3 18.6 30.4 42.5 32.2 34.7 68.5 158.5 69

70 Equipment 0.1 0.2 0.3 0.3 0.5 0.6 0.3 0.3 0.9 3.3 70

71 Intellectual property products 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.3 0.4 71

72 Equity and investment fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 72

73 Changes in net worth due to nominal holding gains/losses 8.7 13.9 11.7 18.9 31.0 43.2 32.6 35.1 69.7 162.2 73

 Changes in balance sheet account

74 Change in net worth (lines 29+33+64+73) 17.7 22.1 23.2 27.1 34.6 50.5 28.3 39.4 103.2 160.7 74

 Balance sheet account (end of period)

75 Total assets 345.5 379.8 412.8 457.0 513.3 579.1 639.3 709.6 820.7 1014.6 75

76 Nonfinancial assets (3) 288.9 319.2 348.8 387.3 437.4 499.0 550.1 603.3 692.2 876.5 76

77 Structures 279.8 309.0 337.5 374.7 423.2 483.1 532.8 584.4 670.6 849.5 77

78 Equipment 7.7 8.6 9.6 10.6 11.8 13.2 14.2 15.4 17.5 22.3 78

79 Intellectual property products 1.3 1.5 1.8 2.0 2.4 2.8 3.1 3.5 4.1 4.7 79

80 Financial assets 56.6 60.6 64.0 69.8 75.8 80.1 89.2 106.3 128.5 138.0 80

81 Currency and deposits 22.0 23.8 26.9 29.3 25.4 34.3 42.4 49.6 56.3 61.4 81

82 Currency and transferable deposits 9.8 10.3 11.1 10.4 12.3 11.3 12.1 12.7 12.7 12.9 82

83 Time and savings deposits 12.2 13.5 15.7 18.9 13.1 23.0 30.2 37.0 43.6 48.5 83

84 Debt securities 24.8 24.6 24.6 28.3 32.8 30.5 27.7 33.1 41.1 45.2 84

85 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 85

86 Treasury securities 19.5 20.1 19.7 19.9 23.0 22.9 22.6 24.9 26.1 26.5 86

87 Agency- and GSE-backed securities (1) 3.1 2.4 2.8 6.2 7.5 5.2 3.0 6.3 13.0 16.0 87

88 Municipal securities 2.2 2.1 2.1 2.2 2.2 2.4 2.1 1.8 2.1 2.6 88

89 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 89

90 Loans 2.0 3.7 3.3 1.9 6.3 3.2 4.8 6.1 9.2 9.9 90

91 Short term -0.7 0.8 0.3 -1.3 2.6 -1.4 -0.9 -1.0 0.5 -1.3 91

92 Long term (mortgages) 2.7 2.9 3.0 3.2 3.7 4.6 5.6 7.0 8.7 11.2 92

93 Equity and investment fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 93

94 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 94

95 Corporate equities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 95

96 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 96

97 Other accounts receivable 7.8 8.6 9.3 10.3 11.5 12.1 14.4 17.5 21.9 21.5 97

98 Trade receivables 6.6 7.2 7.8 8.8 10.0 10.6 11.6 13.0 15.8 13.8 98

99 Taxes receivable 0.9 0.9 1.0 1.2 1.2 1.3 2.5 4.3 5.9 7.6 99

100 Other (miscellaneous assets) 0.3 0.5 0.5 0.4 0.3 0.2 0.3 0.2 0.2 0.1 100

101 Total liabilities and net worth 345.5 379.8 412.8 457.0 513.3 579.1 639.3 709.6 820.7 1014.6 101

102 Liabilities 148.9 161.2 171.0 188.1 209.7 225.0 257.0 287.8 295.7 329.0 102
Inte

g

r

ate

d

A

c

c

o

u

nts

170 Historical Annuals, 1965-1974, March 10, 2016

S.8.a State and Local Governments

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

103 Debt securities (municipals) 100.4 106.6 113.8 122.1 133.5 145.5 161.6 175.2 189.9 202.6 103

104 Short term 5.5 6.2 8.0 8.1 10.9 13.3 15.7 15.8 16.1 18.8 104

105 Other 94.9 100.5 105.8 114.0 122.6 132.2 145.8 159.4 173.8 183.8 105

106 Loans (short term) 2.8 3.4 3.6 4.0 4.7 4.8 5.2 5.5 4.9 5.6 106

107 Insurance, pension and standardized guarantee schemes 32.5 36.3 37.1 43.6 51.1 52.1 65.3 79.5 70.6 87.1 107

 (Claim of pension funds on sponsor)

108 Other accounts payable (trade payables) 13.3 14.8 16.5 18.4 20.4 22.6 25.0 27.5 30.3 33.6 108

109 Net worth 196.5 218.6 241.8 269.0 303.5 354.0 382.3 421.8 524.9 685.6 109

Note. The state and local government accounts exclude state and local employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 171

S.9.a Rest of the World 

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

 Current account

 1 Foreign income from U.S. 38.9 45.2 48.7 56.5 62.1 68.8 76.7 91.2 109.9 150.5 1

 2 U.S. imports of goods and services 31.5 37.1 39.9 46.6 50.5 55.8 62.3 74.2 91.2 127.5 2

 3 U.S. income payments to rest of world 2.6 3.0 3.3 4.0 5.7 6.4 6.4 7.7 10.9 14.3 3

 4 Current taxes and trans. payments to rest of world 4.7 5.1 5.5 5.9 5.9 6.6 7.9 9.2 7.9 8.7 4

 5 Less: Foreign outlays to U.S. 45.0 49.0 52.1 58.0 63.7 72.5 77.0 87.1 118.8 156.5 5

 6 U.S. exports of goods and services 37.1 40.9 43.5 47.9 51.9 59.7 63.0 70.8 95.3 126.7 6

 7 U.S. income receipts from rest of world 7.9 8.1 8.7 10.1 11.8 12.8 14.0 16.3 23.5 29.8 7

 8 Current taxes and trans. receipts from rest of world (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Equals: Net saving (current external balance) -6.2 -3.8 -3.5 -1.5 -1.6 -3.7 -0.3 4.0 -8.9 -6.0 9

 Capital account

10 Net saving -6.2 -3.8 -3.5 -1.5 -1.6 -3.7 -0.3 4.0 -8.9 -6.0 10

11 Less: Net capital transfers 0.0 0.0 0.0 0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 11

12 Less: Acquisition of nonproduced nonfinancial assets 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

13 Net lending (+) or borrowing (-), capital account (lines 10-11-12) -6.2 -3.8 -3.5 -1.5 -1.6 -3.7 -0.3 4.1 -8.8 -5.9 13

 Financial account

14 Net lending (+) or borrowing (-) (line 13) -6.2 -3.8 -3.5 -1.5 -1.6 -3.7 -0.3 4.1 -8.8 -5.9 14

15 Net acquisition of U.S. financial assets 3.4 5.1 8.5 11.2 17.7 10.0 26.5 20.4 13.4 23.5 15

16 Monetary gold and SDRs 1.7 0.6 1.2 1.2 -1.0 1.7 1.6 1.3 0.0 0.0 16

17 Monetary gold 1.7 0.6 1.2 1.2 -1.0 0.8 0.9 0.5 0.0 0.0 17

18 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 0.7 0.7 0.0 0.0 18

19 Currency and deposits 0.9 3.9 2.4 2.7 14.5 -7.1 -4.0 4.4 4.0 11.3 19

20 Currency 0.1 0.3 0.2 0.3 0.5 0.5 0.5 0.6 0.9 1.0 20

21 Transferable deposits 0.1 0.4 0.3 0.6 0.3 0.5 -0.2 1.6 2.9 2.8 21

22 Time deposits 0.6 0.3 1.3 -0.3 1.4 -1.7 0.3 2.9 2.8 7.7 22

23 Net interbank items due from U.S. banks 0.1 2.9 0.6 2.1 12.3 -6.4 -4.6 -0.7 -2.7 -0.2 23

24 Debt securities 0.5 -0.1 2.8 2.6 0.6 11.8 27.9 10.3 1.5 4.9 24

25 Open market paper 0.4 0.2 0.0 0.6 1.0 0.5 -0.2 -0.1 0.3 0.4 25

26 Treasury securities -0.3 -1.9 2.1 -0.7 -2.3 9.5 26.6 8.2 -0.2 4.0 26

27 Agency- and GSE-backed securities (2) 0.3 0.3 0.3 0.3 0.3 0.3 0.0 0.1 0.1 -0.5 27

28 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

29 Corporate bonds 0.0 1.2 0.3 2.3 1.6 1.5 1.5 2.1 1.3 1.0 29

30 Loans (short term) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.2 30

31 Security repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.4 0.0 31

32 Loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 32

33 Equity and investment fund shares 0.0 0.1 1.4 2.9 2.8 2.2 1.2 3.4 5.6 5.0 33

34 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

35 Corporate equities -0.4 -0.3 0.7 2.1 1.6 0.7 0.8 2.4 2.8 0.2 35

36 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 Foreign direct investment in the United States 0.4 0.4 0.7 0.8 1.3 1.5 0.4 0.9 2.8 4.8 37

38 Other accounts receivable 0.3 0.6 0.8 1.8 0.8 1.5 -0.2 1.1 1.9 2.1 38

39 Net incurrence of liabilities 8.0 8.0 10.5 11.8 10.2 9.7 12.4 13.9 23.5 27.8 39

40 SDR holdings 0.0 0.0 0.0 0.0 0.0 0.9 0.2 0.7 -0.0 0.2 40

41 Currency and deposits 0.1 0.4 1.0 2.5 -0.3 -2.9 -1.5 0.6 1.6 0.6 41

42 Official foreign currencies 0.3 0.5 1.0 1.2 -0.8 -2.2 -0.4 0.0 -0.2 0.0 42

43 Reserve position in IMF (net) 0.1 -0.5 0.1 0.9 1.0 -0.4 -1.4 -0.2 0.0 1.3 43

44 U.S. private deposits -0.3 0.1 0.1 0.5 -0.4 -0.4 0.4 0.9 1.2 -0.2 44

45 Nonofficial foreign currencies 0.0 0.3 -0.2 -0.1 -0.1 0.0 -0.2 -0.2 0.6 -0.5 45

46 Debt securities 0.5 0.7 1.2 1.1 1.0 0.9 0.9 1.0 1.0 2.6 46

47 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 47

48 Bonds 0.5 0.7 1.2 1.1 1.0 0.9 0.9 1.0 1.0 2.4 48

49 Loans (short term) 2.1 1.3 2.5 1.7 2.2 1.9 4.1 3.4 5.3 11.4 49

50 Security repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50

51 Other loans and advances 1.5 1.3 2.9 2.1 2.4 2.1 2.1 0.4 2.6 6.7 51

52 Depository institution loans n.e.c. 0.6 -0.1 -0.4 -0.4 -0.3 -0.2 2.0 3.0 2.7 4.7 52

53 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53
Inte

g

r

ate

d

A

c

c

o

u

nts

172 Historical Annuals, 1965-1974, March 10, 2016

S.9.a Rest of the World 

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

54 Equity and investment fund shares 5.3 5.3 5.1 5.9 6.7 8.0 8.0 7.6 13.9 10.1 54

55 Corporate equities 0.3 -0.0 0.1 0.5 0.5 0.2 0.2 -0.4 -0.3 -0.5 55

56 U.S. government equity in IBRD, etc. 0.0 -0.1 0.2 0.1 0.2 0.2 0.2 0.3 0.4 0.5 56

57 U.S. direct investment abroad 5.0 5.4 4.8 5.3 6.0 7.6 7.6 7.7 11.4 9.1 57

58 Investment by holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.5 1.0 58

59 Other accounts payable -0.0 0.3 0.7 0.6 0.6 1.0 0.6 0.6 1.7 3.0 59

 Addendum:

60 Net lending (+) or borrowing (-), financial account (lines 15-39) -4.6 -2.9 -2.0 -0.6 7.6 0.3 14.1 6.5 -10.1 -4.2 60

 Other changes in volume account

61 Total other volume changes 1.6 0.8 1.5 0.9 4.3 4.0 14.9 4.3 -1.2 1.7 61

62 Other volume changes 0.1 -0.1 -0.0 0.0 -4.8 0.0 0.5 2.0 0.1 0.0 62

63 Less: Statistical discrepancy (lines 13-60) (3) -1.5 -0.9 -1.5 -0.9 -9.2 -4.0 -14.4 -2.4 1.3 -1.7 63

 Revaluation account

64 Financial assets -0.5 -2.2 11.1 0.7 -3.4 -1.0 1.9 5.4 -8.0 -9.8 64

65 Monetary gold and SDRs -1.7 -0.6 -1.2 -1.2 1.0 -0.8 -0.7 -0.5 0.3 0.0 65

66 Currency and deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 66

67 Debt securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 67

68 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 68

69 Treasury securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 69

70 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 70

71 Corporate bonds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 71

72 Equity and investment fund shares 1.1 -1.7 12.2 1.9 -4.4 -0.2 2.8 6.0 -8.0 -9.8 72

73 Corporate equities 1.2 -1.7 12.2 1.9 -4.3 -0.2 2.8 5.8 -8.3 -9.8 73

74 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 74

75 Foreign direct investment in the United States -0.0 -0.0 0.1 -0.0 -0.0 0.1 0.0 0.2 0.3 0.0 75

76 Other accounts receivable 0.0 0.0 0.0 0.0 0.0 0.0 -0.1 -0.1 -0.3 -0.0 76

77 Liabilities 5.4 -2.5 2.7 3.5 3.5 3.1 3.0 17.2 -10.6 1.4 77

78 SDR holdings 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.2 0.0 78

79 Currency and deposits -0.0 0.0 0.1 0.0 0.1 0.0 0.0 -0.0 0.0 1.8 79

80 Official foreign currencies 0.0 0.0 0.0 0.0 0.1 0.0 0.0 -0.0 -0.1 -0.0 80

81 Reserve position in IMF (net) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 81

82 U.S. private deposits -0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 1.8 82

83 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 83

84 Debt securities (corporate bonds) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 84

85 Loans (other loans and advances) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 85

86 Equity and investment fund shares 5.4 -2.5 2.6 3.5 3.4 3.1 2.8 17.2 -10.8 -0.5 86

87 Corporate equities -0.5 -0.7 0.8 0.7 -0.0 -0.6 0.9 3.3 -0.2 -0.5 87

88 U.S. direct investment abroad 5.9 -1.8 1.8 2.8 3.4 3.7 1.9 13.9 -10.6 0.0 88

89 Other accounts payable 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 89

90 Changes in net worth due to nominal holding gains/losses -5.9 0.3 8.4 -2.8 -6.9 -4.1 -1.0 -11.8 2.6 -11.2 90

 Changes in balance sheet account

91 Change in net worth (lines 13+61+90) -10.5 -2.8 6.4 -3.4 -4.2 -3.8 13.6 -3.4 -7.4 -15.4 91

 Financial balance sheet account (end of period) (4)

92 Total financial assets 61.2 64.0 83.6 95.5 105.0 114.0 142.4 170.3 175.8 189.5 92

93 SDR allocations 0.0 0.0 0.0 0.0 0.0 0.9 1.7 2.5 2.8 2.8 93

94 Currency and deposits 18.4 22.3 24.7 27.5 37.1 30.0 26.0 32.4 36.4 47.7 94

95 Currency 3.9 4.3 4.5 4.8 5.3 5.7 6.2 6.8 7.7 8.7 95

96 Transferable deposits 4.6 5.0 5.3 5.9 6.2 6.7 6.5 8.3 11.2 14.0 96

97 Time deposits 6.1 6.4 7.7 7.4 8.8 7.1 7.5 10.6 13.4 21.1 97

98 Net interbank items due from U.S. banks 3.8 6.7 7.3 9.4 16.8 10.5 5.8 6.8 4.1 3.9 98
Inte

g

r

ate

d

A

c

c

o

u

nts

Historical Annuals, 1965-1974, March 10, 2016 173

S.9.a Rest of the World 

Billions of dollars

1965 1966 1967 1968 1969 1970 1971 1972 1973 1974

 

99 Debt securities 17.4 17.3 20.0 22.6 23.2 35.0 62.8 73.2 74.7 79.5 99

100 Open market paper 2.0 2.2 2.2 2.8 3.8 4.3 4.1 4.1 4.4 4.8 100

101 Treasury securities 13.1 11.2 13.2 12.6 10.2 19.7 46.3 54.5 54.3 58.3 101

102 Agency- and GSE-backed securities (2) 1.3 1.7 2.0 2.4 2.7 3.0 3.1 3.2 3.2 2.8 102

103 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 Corporate bonds 1.0 2.2 2.5 4.9 6.4 7.9 9.4 11.4 12.7 13.7 104

105 Loans (short term) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.8 105

106 Security repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.5 0.5 106

107 Loans to U.S. corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.3 107

108 Equity and investment fund shares 23.1 21.6 35.2 40.0 38.4 40.4 44.4 53.8 51.4 46.5 108

109 Money market fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 109

110 Corporate equities 14.6 12.6 25.5 29.5 26.8 27.2 30.8 39.1 33.5 23.9 110

111 Mutual fund shares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 111

112 Foreign direct investment in the United States 8.5 8.9 9.7 10.5 11.7 13.2 13.6 14.7 17.8 22.6 112

113 Other accounts receivable 2.2 2.8 3.6 5.4 6.3 7.7 7.4 8.4 10.1 12.1 113

114 Total liabilities and net worth 61.2 64.0 83.6 95.5 105.0 114.0 142.4 170.3 175.8 189.5 114

115 Total liabilities 108.2 113.8 127.0 142.3 155.9 168.8 183.6 214.9 227.8 256.9 115

116 SDR holdings 0.0 0.0 0.0 0.0 0.0 0.9 1.2 2.0 2.2 2.4 116

117 Currency and deposits 6.4 6.7 7.8 10.3 10.1 7.2 5.8 6.4 8.0 10.4 117

118 Official foreign currencies 0.8 1.3 2.3 3.5 2.8 0.6 0.3 0.2 0.0 0.0 118

119 Reserve position in IMF (net) 0.9 0.3 0.4 1.3 2.3 1.9 0.6 0.5 0.6 1.9 119

120 U.S. private deposits 0.8 0.9 1.1 1.6 1.2 0.8 1.2 2.2 3.3 4.9 120

121 Nonofficial foreign currencies 3.9 4.2 4.0 3.9 3.8 3.8 3.7 3.5 4.1 3.6 121

122 Debt securities 9.1 9.9 11.1 12.2 13.2 14.1 15.0 16.0 17.0 19.6 122

123 Commercial paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2 123

124 Bonds 9.1 9.9 11.1 12.2 13.2 14.1 15.0 16.0 17.0 19.4 124

125 Loans (short term) 28.3 29.7 32.2 33.9 36.0 38.0 41.5 45.1 50.4 61.7 125

126 Security repurchases 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 126

127 Other loans and advances 21.2 22.6 25.5 27.6 30.0 32.1 34.2 34.7 37.3 44.0 127

128 Depository institution loans n.e.c. 7.1 7.1 6.7 6.3 6.0 5.8 7.3 10.4 13.1 17.8 128

129 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 129

130 Equity and investment fund shares 61.7 64.6 72.2 81.6 91.7 102.9 113.7 138.5 141.6 151.2 130

131 Corporate equities 5.0 4.3 5.2 6.5 7.0 6.6 7.6 10.5 10.0 9.0 131

132 U.S. government equity in IBRD, etc. 1.3 1.2 1.4 1.5 1.7 1.9 2.2 2.4 2.8 3.4 132

133 U.S. direct investment abroad 55.4 59.0 65.6 73.7 83.1 94.3 103.9 125.5 126.2 135.3 133

134 Investment by holding companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.5 3.5 134

135 Other accounts payable 2.7 3.0 3.7 4.3 4.9 5.9 6.4 7.0 8.7 11.7 135

136 Net worth (external account) -47.0 -49.8 -43.4 -46.8 -51.0 -54.8 -41.2 -44.6 -52.0 -67.4 136

(1) Prior to 1999, current taxes, contributions for government social insurance, and transfer receipts from the rest of the world (line 8) are not separately displayed, and line 4 includes

 current taxes and transfer payments to the rest of the world net of current taxes, contributions for government social insurance, and transfer receipts from the rest of the world.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

 reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes nonfinancial assets, including nonproduced nonfinancial assets.

IBRD International Bank for Reconstruction and Development

IMF International Monetary Fund

SDRs Special Drawing Rights

n.e.c. Not elsewhere classified