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

RFor use at 12:00 noon, eastern time

June 11, 2015

Z.1

Financial Accounts 

of the United States

Flow of Funds, Balance Sheets,

and Integrated Macroeconomic Accounts

First Quarter 2015

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

i

Household Net Worth and Growth of Domestic Nonfinancial Debt

Year

Household 

net worth1

Growth of domestic nonfinancial debt2

Total Households Businesses

State and 

local gov’ts

Federal

government

2005 61,853 9.0 11.2 8.1 5.8 7.0

2006 66,300 8.4 10.2 9.8 3.9 3.9

2007 66,722 8.2 7.1 12.4 5.5 4.9

2008 56,492 6.2 1.1 5.8 0.6 24.2

2009 58,270 3.3 0.0 -4.3 4.0 22.7

2010 62,458 4.1 -1.1 -0.9 2.3 20.2

2011 63,879 3.6 -0.2 3.0 -1.7 11.4

2012 69,864 5.0 1.5 4.8 -0.2 10.9

2013 79,262 3.8 1.6 5.1 -1.3 6.5

2014 83,296 4.3 2.9 6.0 -0.5 5.4

2013: Q1 72,619 4.1 0.7 3.5 1.9 9.1

Q2 74,211 3.0 1.6 4.9 -0.2 3.5

Q3 76,628 3.6 3.2 7.2 -3.7 2.6

Q4 79,262 4.4 0.7 4.4 -3.3 10.5

2014: Q1 80,327 4.2 2.3 6.0 -1.3 6.0

Q2 81,724 3.5 3.7 4.9 1.2 2.5

Q3 81,650 4.4 2.9 5.0 -2.8 7.2

Q4 83,296 4.9 2.8 7.7 1.1 5.4

2015: Q1 84,925 2.8 2.2 6.6 4.8 -0.4

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

 seasonally adjusted

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

 at an annual rate.

The net worth of households and nonprofits rose to 

$84.9 trillion during the first quarter of 2015. The value 

of directly and indirectly held corporate equities 

increased $487 billion and the value of real estate rose

$503 billion.

Domestic nonfinancial debt outstanding was 

$41.7 trillion at the end of the first quarter of 2015, of 

which household debt was $13.6 trillion, nonfinancial 

business debt was $12.2 trillion, and total government 

debt was $16.0 trillion.

Domestic nonfinancial debt growth was 2.8 percent at 

a seasonally adjusted annual rate in the first quarter of 

2015.

Household debt increased at an annual rate of 

2.2 percent in the first quarter of 2015. Consumer credit 

grew 5.6 percent, while mortgage debt (excluding 

charge-offs) declined 0.3 percent at an annual rate.

Nonfinancial business debt rose at an annual rate of

6.6 percent in the first quarter, a somewhat smaller

increase than in the previous quarter. As in recent years, 

corporate bonds accounted for most of the increase.

State and local government debt increased at an 

annual rate of 4.8 percent in the first quarter, up from an 

annual rate of 1.1 percent in the previous quarter.

Federal government debt declined 0.4 percent at an 

annual rate in the first quarter, after increasing

5.4 percent at an annual rate in the previous quarter.

Recent Developments in Household Net Worth and 

Domestic Nonfinancial Debt
ii
iii

Topic Description

Detail on 529 Plans New memo items showing households’ assets held in 529 

college savings plans and prepaid tuition plans are now included 

on the balance sheet of households and nonprofit organizations 

(table B.101). Additionally, table B.101 now includes a memo 

item for households’ assets held in individual retirement 

accounts (IRAs), which is also shown on the pension 

entitlements instrument tables (tables F.226 and L.226). 

Nonfinancial corporate business 

benchmark

Assets of the nonfinancial corporate business sector (tables 

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

2013:Q1 forward, to reflect new advance data from the Internal 

Revenue Service (IRS) Statistics of Income (SOI) for 2013.

Nonfinancial noncorporate business 

benchmark

Data for the noncorporate business sector (tables F.104, L.104, 

B.104, and R.104) have been revised from 2011:Q1 forward to 

reflect the 2011 and 2012 benchmark statistics from the Internal 

Revenue Service (IRS) Statistics of Income (SOI).

FEDS Notes The following FEDS Notes have recently become available: 

"Defined-Contribution Pension Plans for State and Local 

Government Employees in the Financial Accounts of the United 

States" (Matthew Hoops, Irina Stefanescu, and Ivan Vidangos), 

"Deleveraging and Recent Trends in Household Debt" (Ivan 

Vidangos), and "The Federal Reserve’s Overnight and Term 

Reverse Repurchase Agreement Operations in the Financial 

Accounts of the United States" (Ralf R. Meisenzahl). FEDS 

Notes are available on the Federal Reserve Board's website at 

www.federalreserve.gov/econresdata/notes/feds-notes

/default.html.

Seasonally unadjusted NIPA flows 

for non-government sectors 

In 2007, BEA discontinued producing seasonally unadjusted 

flow data for non-government NIPA series. Later historical 

revisions to the seasonally adjusted time series made the 

previously recorded unadjusted flow series out of date. To align 

the Financial Accounts data for these NIPA series with that 

published by BEA, we have recalculated the quarterly rate 

unadjusted flow component to equal the seasonally adjusted 

annual rate flow series published by BEA, divided by four.

New series mnemonic two-letter 

prefix

The two-letter prefix on level series mnemonics for real estate 

have been changed from “FL” to “LM” to signify that these series 

are recorded at market value. At this time, the mnemonics of 

calculated series that include components with mixed valuation 

have not been changed. Work to update the mnemonics of 

other market value series is ongoing.

Expansion of international data 

submissions

The "International Data Submissions" page of the "Financial 

Accounts Guide" includes two new tables and SDMX files for the 

U.S. Public Sector Debt statistics for general government and 

central government. These data are disseminated for the joint 

use of the World Bank, the International Monetary Fund, and the 

Organisation for Economic Co-operation and Development. 

Release Highlights

First Quarter 2015
iv
v

Financial Accounts of the United States

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

United States,” is organized into the following sections:

■ Matrices summarizing flows and levels across 

sectors, and tables summarizing credit market 

borrowing, gross domestic product (GDP), 

national income, saving, and so on

■ Flow of funds, by sector and by financial 

instrument 

■ Levels of financial assets and liabilities, by 

sector and by financial instrument

■ Balance sheets, including nonfinancial assets,

and changes in net worth for households and 

nonprofit organizations, nonfinancial corporate 

businesses, and nonfinancial noncorporate 

businesses

Supplementary tables providing additional 

detail on selected sectors

■ Integrated Macroeconomic Accounts

The Integrated Macroeconomic Accounts (IMA) relate 

production, income, saving, and capital formation from 

the national income and product accounts (NIPA) to 

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

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

by the Federal Reserve Board and the Bureau of 

Economic Analysis and are based on international 

guidelines and terminology as defined in the System of 

National Accounts (SNA1993, revised in 2008). 

Federal Reserve Board staff have taken many steps over 

the past several years to conform the “Financial 

Accounts” with the SNA guidelines. Nonetheless, a few 

important differences remain. In particular, in the 

“Financial Accounts”:

■ The purchase of consumer durables is treated as 

investment rather than as consumption.

■ Nonfinancial noncorporate businesses (which 

are often small businesses) are shown in a 

separate sector rather than being included in the 

household sector.

■ Most debt securities are recorded at book value 

rather than market value.

Concepts of Level and Flow in the SNA 

and the Financial Accounts

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

stock or outstanding) measures the value of the asset or

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

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

calendar quarter. In the SNA2008, the change in the

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

flow,” and can be decomposed into three broad 

elements: transactions, which measure the exchange of 

assets; revaluations, which measure changes in market 

value of untraded assets; and other changes in volume, 

which measure discontinuities or breaks in time series 

due to disaster losses or a change in source data or 

definition.

In the “Financial Accounts,” “flow of funds” refers to 

the exchange of assets, corresponding to the SNA 

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

“Financial Accounts” are equivalent to “transaction 

tables” in the SNA terminology. In practice, other 

volume changes are relatively rare, and revaluations 

occur only for series carried at market value (such as 

corporate equities and mutual fund shares), so for many 

series the change in the level is equal to the flow. 

Growth Rates

Growth rates calculated from levels will include 

revaluations and other changes in volume. To isolate 

the effect of transactions on growth of a given asset or 

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

given period to the level in the preceding period. 

Growth rates in table D.1 are calculated by dividing 

seasonally adjusted flows from table D.2 by seasonally 

adjusted levels at the end of the previous period from 

table D.3. Growth rates calculated from changes in 

unadjusted levels printed in table L.2 may differ from 

those in table D.1.

Seasonal Adjustment

Seasonal factors are recalculated and updated every 

year, and these revised factors are first published in the 

September release of second-quarter data. All series that 

exhibit significant seasonal patterns are adjusted. The 

seasonal factors are generated using the X-12-ARIMA 

seasonal adjustment program from the U.S. Census 

Bureau, estimated using the most recent 10 years of 

data. Because the effects of the recent financial crisis

resulted in large outliers in some series that would have 

distorted the estimated seasonal factors, seasonal factors 

for some series were extrapolated using pre-crisis data. 

Seasonally adjusted levels shown in table D.3 are 

derived by carrying forward year-end levels by 

seasonally adjusted flows.

Explanatory Notes
vi

Data Revisions

Data shown for the most recent quarters are based on 

preliminary and potentially incomplete information. A 

summary list of the most recent data available for each 

sector is provided in a table following these notes. 

Nonetheless, when source data are revised or estimation 

methods are improved, all data are subject to revision. 

There is no specific revision schedule; rather, data are 

revised on an ongoing basis. In each release of the 

“Financial Accounts,” major revisions are highlighted at 

the beginning of the publication.

Discrepancies

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

variety of sources and are subject to limitations and 

uncertainty due to measurement errors, missing 

information, and incompatibilities among data sources. 

The size of this uncertainty cannot be quantified, but its 

existence is acknowledged by the inclusion of 

“statistical discrepancies” for various sectors and 

financial instruments.

The discrepancy for a given sector is defined as the 

difference between the aggregate value of the sector’s 

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

financial instrument category, the discrepancy is defined 

as the difference between the measurement of funds 

raised through the financial instrument and funds 

disbursed through that instrument. The relative size of 

the statistical discrepancy is one indication of the quality 

of the underlying source data. Note that differences in 

seasonal adjustment procedures sometimes result in 

quarterly discrepancies that partially or completely 

offset each other in the annual data.

Financial Accounts Guide 

Substantially more detail on the construction of the 

“Financial Accounts” is available in the Financial 

Accounts Guide, which provides interactive, online 

documentation for each data series. The tools and 

descriptions in the guide are designed to help users 

understand the structure and content of the “Financial 

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

browse tables of data, and identify links among series 

within these accounts. It also provides descriptions of 

each of the published tables and information on the 

source data underlying each series. 

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

continually updated and kept consistent with the most 

recently published data. The guide and the data from the 

“Financial Accounts” are available free of charge online:

www.federalreserve.gov/apps/fof

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

according to a unique string of patterned numbers and 

letters. The series structure page of the guide provides a 

breakdown of what the letters and numbers represent in 

the series mnemonics. The relationships between 

different components of a series (for example, levels, 

seasonally adjusted annual rate flows, unadjusted flows, 

revaluations, other changes in volume, seasonal factors, 

and so on) are also described on the series structure 

page.

Production Schedule

The “Financial Accounts” are published online and in 

print four times per year, about 10 weeks following the 

end of each calendar quarter. The publication and the 

guide are available online:

www.federalreserve.gov/releases/Z1

This website provides coded tables and historical annual 

tables beginning in 1945 that correspond with the tables 

published in this release. It also includes compressed 

ASCII files of quarterly data for seasonally adjusted 

flows, unadjusted flows, outstandings, balance sheets, 

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

and the IMA. 

In addition, the data are available as customizable 

datasets through the Federal Reserve Board’s Data 

Download Program at:

www.federalreserve.gov/datadownload/default.htm

Print Subscription Information

The Federal Reserve Board charges a fee for 

subscriptions to print versions of statistical releases.

Inquiries regarding print versions should be directed to

the following office:

Publications Services, Stop 127

Board of Governors

of the Federal Reserve System

20th Street and Constitution Avenue, N.W.

Washington, DC 20551

(202) 452-3245
vii

Sector Table Available at time of publication

National income and product 

accounts (NIPA)

(various tables)

Second estimate, seasonally adjusted, for 2015:Q1. Unadjusted 

flows through 2013:Q4 for the government sectors.

Households and nonprofit

organizations sector

(tables F.101 and L.101)

Estimates for this sector are largely residuals and are derived 

from data for other sectors. Availability of data depends on 

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

estimated directly, are available through 2015:Q1. The source 

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

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

Data for nonprofit organizations are available for 1987 through 

2000.

Nonfinancial corporate business 

(tables F.102 and L.102)

Quarterly Financial Report (QFR) of the Census Bureau through 

2014:Q4 (preliminary); Internal Revenue Service Statistics of 

Income data through 2013; securities offerings, mortgages, bank 

loans, commercial paper, and other loans through 2015:Q1.

Corporate farm data through 2013.

Nonfinancial noncorporate business

(tables F.103 and L.103)

IRS/SOI data through 2012; bank and finance company loans, 

and mortgage borrowing through 2015:Q1. Noncorporate farm 

data through 2013.

Federal government

(tables F.106 and L.106)

Data from the Monthly Treasury Statement of Receipts and 

Outlays and Treasury data for loan programs and the Troubled 

Assets Relief Program (TARP) through 2015:Q1.

State and local governments

(tables F.107 and L.107)

Gross offerings and retirements of municipal securities, deposits 

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

through 2015:Q1; total financial assets through 2013:Q2 from 

the Census Bureau; breakdown of financial assets through 

2011:Q2 from the comprehensive annual financial reports of 

state and local governments.

Monetary authority

(tables F.109 and L.109)

All data through 2015:Q1.

U.S.-chartered depository 

institutions

(tables F.111 and L.111)

All data through 2015:Q1

Foreign banking offices in U.S.

(tables F.112 and L.112)

All data through 2015:Q1.

Banks in U.S.-affiliated areas

(tables F.113 and L.113)

All data through 2015:Q1.

Credit unions

(tables F.113 and L.113)

All data through 2015:Q1.

Property-casualty insurance 

companies

(tables F.115 and L.115)

Preliminary data through 2015:Q1.

Description of Most Recent Data Available
viii

Sector Table Available at time of publication

Life insurance companies

(tables F.116 and L.116)

Preliminary data through 2015:Q1.

Private pension funds

(tables F.118 and L.118)

Internal Revenue Service/Department of Labor Form 5500 data 

through 2012. Investment Company Institute data through 

2014:Q4.

Federal government retirement 

funds

(tables F.119 and L.119)

Data from the Monthly Treasury Statement of Receipts and 

Outlays, the Thrift Savings Plan, and the National Railroad 

Retirement Investment Trust through 2015:Q1.

State and local government 

employee retirement funds

(tables F.120 and L.120)

Detailed annual survey data through 2013:Q2 and quarterly 

survey data through 2014:Q4 from the Census Bureau. 

Investment Company Institute data through 2014:Q4.

Money market mutual funds

(tables F.121 and L.121)

All data through 2015:Q1.

Mutual funds

(tables F.122 and L.122)

All data through 2015:Q1.

Closed-end funds

(tables F.123 and L.123)

All data through 2015:Q1.

Exchange-traded funds

(tables F.123 and L.123)

All data through 2015:Q1.

Government sponsored enterprises 

(GSEs)

(tables F.124 and L.124)

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

FHLB, FICO, and REFCORP through 2015:Q1. 

Agency- and GSE-backed 

mortgage pools

(tables F.125 and L.125)

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

Mae through 2015:Q1. 

Issuers of asset-backed securities 

(ABSs)

(tables F.126 and L.126)

All data for private mortgage pools, consumer credit, business 

loans, student loans, consumer leases, and trade credit 

securitization through 2015:Q1.

Finance companies

(tables F.127 and L.127)

All data through 2015:Q1.

Real estate investment trusts 

(REITs)

(tables F.128 and L.128)

Data from SNL Financial through 2015:Q1. 

Security brokers and dealers

(tables F.129 and L.129)

Data for firms filing FOCUS and FOGS reports through 

2015:Q1.

Holding companies

(table F.130 and L.130)

All data through 2015:Q1.

Funding corporations

(tables F.131 and L.131)

Estimates for this sector are largely residuals and are derived 

from data for other sectors.

Rest of the world

(tables F.132 and L.132)

Balance of payments and International Investment Position data 

through 2014:Q4. NIPA estimates, bank Call Reports, and 

Treasury International Capital System data through 2015:Q1.
ix

Title Table Page

Summaries

Flow of Funds Matrix—Flows 1

Flow of Funds Matrix—Assets and Liabilities 2

Credit Market Debt Growth by Sector D.1 3

Credit Market Borrowing by Sector D.2 4

Credit Market Debt Outstanding by Sector D.3 5

Total Credit Market Borrowing and Lending F.1 6

Credit Market Borrowing by Nonfinancial Sectors F.2 7

Credit Market Borrowing by Financial Sectors F.3 7

Credit Market Borrowing, All Sectors, by Instrument F.4 8

Total Liabilities and Its Relation to Total Financial Assets F.5 8

Credit Market Debt Outstanding L.1 9

Credit Market Debt Owed by Nonfinancial Sectors L.2 10

Credit Market Debt Owed by Financial Sectors L.3 10

Credit Market Debt, All Sectors, by Instrument L.4 11

Total Liabilities and Its Relation to Total Financial Assets L.5 11

Distribution of Gross Domestic Product F.6 12

Distribution of National Income F.7 13

Saving and Investment F.8 14

Net Capital Transfers F.9 15

Derivation of Measures of Personal Saving F.10 16

Assets and Liabilities of the Personal Sector L.10 17

Title

Flows Levels

Table Page Table Page

Sectors

Domestic Nonfinancial F.100 18 L.100 76

Households and Nonprofit Organizations F.101 19 L.101 77

Nonfinancial Business F.102 20 L.102 78

Nonfinancial Corporate Business F.103 21 L.103 79

Nonfinancial Noncorporate Business F.104 22 L.104 80

List of Data Tables
x

Sectors

General Government F.105 23 L.105 81

Federal Government F.106 24 L.106 82

State and Local Governments F.107 25 L.107 83

Domestic Financial F.108 26 L.108 84

Monetary Authority F.109 27 L.109 85

Private Depository Institutions F.110 28 L.110 86

U.S.-Chartered Depository Institutions F.111 29 L.111 87

Foreign Banking Offices in U.S. F.112 30 L.112 88

Banks in U.S.-Affiliated Areas F.113 31 L.113 89

Credit Unions F.114 31 L.114 89

Property-Casualty Insurance Companies F.115 32 L.115 90

Life Insurance Companies F.116 33 L.116 91

Life Insurance Companies: General Accounts F.116.g 34 L.116.g 92

Life Insurance Companies: Separate Accounts F.116.s 34 L.116.s 92

Private and Public Pension Funds F.117 35 L.117 93

Private Pension Funds F.118 36 L.118 94

Private Pension Funds: Defined Benefit Plans F.118.b 37 L.118.b 95

Private Pension Funds: Defined Contribution 

Plans F.118.c 37 L.118.c 95

Federal Government Employee Retirement Funds F.119 38 L.119 96

Federal Government Employee Retirement Funds: 

Defined Benefit Plans F.119.b 39 L.119.b 97

Federal Government Employee Retirement Funds: 

Defined Contribution Plans F.119.c 39 L.119.c 97

State and Local Government Employee Retirement 

Funds F.120 40 L.120 98

State and Local Government Employee 

Retirement Funds: Defined Benefit Plans F.120.b 41 L.120.b 99

State and Local Government Employee 

Retirement Funds: Defined Contribution Plans F.120.c 41 L.120.c 99

Money Market Mutual Funds F.121 42 L.121 100

Mutual Funds F.122 42 L.122 100

Closed-End and Exchange-Traded Funds F.123 42 L.123 100

Government-Sponsored Enterprises F.124 43 L.124 101

Agency- and GSE-Backed Mortgage Pools F.125 43 L.125 101

Issuers of Asset-Backed Securities F.126 44 L.126 102

Finance Companies F.127 44 L.127 102
xi

Sectors

Real Estate Investment Trusts (REITs) F.128 45 L.128 103

Equity Real Estate Investment Trusts F.128.e 46 L.128.e 104

Mortgage Real Estate Investment Trusts F.128.m 46 L.128.m 104

Security Brokers and Dealers F.129 47 L.129 105

Holding Companies F.130 48 L.130 106

Funding Corporations F.131 49 L.131 107

Rest of the World F.132 50 L.132 108

Instruments

U.S. Official Reserve Assets and SDR Allocations F.200 51 L.200 109

Special Drawing Rights (SDRs) Certificates and Treasury 

Currency F.201 51 L.201 109

U.S. Deposits in Foreign Countries F.202 51 L.202 109

Net Interbank Transactions F.203 52 L.203 110

Checkable Deposits and Currency F.204 53 L.204 111

Time and Savings Deposits F.205 54 L.205 112

Money Market Mutual Fund Shares F.206 54 L.206 112

Federal Funds and Security Repurchase Agreements F.207 55 L.207 113

Open Market Paper F.208 56 L.208 114

Treasury Securities F.209 57 L.209 115

Agency- and GSE-Backed Securities F.210 58 L.210 116

Municipal Securities and Loans F.211 59 L.211 117

Corporate and Foreign Bonds F.212 60 L.212 118

Corporate Equities F.213 61 L.213 119

Mutual Fund Shares F.214 61 L.214 119

Depository Institution Loans Not Elsewhere Classified F.215 62 L.215 120

Other Loans and Advances F.216 63 L.216 121

Total Mortgages F.217 64 L.217 122

Home Mortgages F.218 65 L.218 123

Multifamily Residential Mortgages F.219 65 L.219 123

Commercial Mortgages F.220 66 L.220 124

Farm Mortgages F.221 66 L.221 124

Consumer Credit F.222 67 L.222 125

Trade Credit F.223 68 L.223 126

Security Credit F.224 68 L.224 126

Life Insurance Reserves F.225 68 L.225 126
xii

Instruments

Pension Entitlements F.226 69 L.226 127

Taxes Payable by Businesses F.227 69 L.227 127

Proprietors' Equity in Noncorporate Business F.228 69 L.228 127

Direct Investment F.229 70 L.229 128

Total Miscellaneous Financial Claims F.230 71 L.230 129

Identified Miscellaneous Financial Claims—Part I F.231 72 L.231 130

Identified Miscellaneous Financial Claims—Part II F.232 73 L.232 131

Unidentified Miscellaneous Financial Claims F.233 74 L.233 132

Sector Discrepancies F.11 75

Instrument Discrepancies F.12 75

Title

Balance Sheet Reconciliation

Table Page Table Page

Balance Sheet and Changes in Net Worth

Households and Nonprofit Organizations B.101 133 R.101 136

Nonfinancial Corporate Business B.103 134 R.103 137

Nonfarm Noncorporate Business B.104 135 R.104 138

Title

Flows Levels

Table Page Table Page

Supplementary Tables

Balance Sheet of Households and Nonprofit Organizations

with Equity Detail B.101.e 139

Nonprofit Organizations F.101.a 140 L.101.a 141

Title Table Page

Integrated Macroeconomic Accounts for the United States

Total Economy—Current Account S.1.a 142

Selected Aggregates for Total Economy and Sectors S.2.a 143

Households and Nonprofit Institutions Serving Households S.3.a 145

Nonfinancial Noncorporate Business S.4.a 148

Nonfinancial Corporate Business S.5.a 151

Financial Business S.6.a 154

Federal Government S.7.a 157

State and Local Governments S.8.a 160

Rest of the World S.9.a 163
Summary

1

Z.1, June 11, 2015 Flow of Funds Matrix for 2014

(Billions of dollars; All Sectors -- Flows)

Households State Domestic Domestic Instrument

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

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

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

 1 Gross saving less net cap. transfers -- 2297.8 -- 2058.2 -- 92.3 -- -362.2 -- 4086.1 -- 292.6 -- 468.0 -- 4846.7 --  2 Capital consumption -- 1429.0 -- 1575.4 -- 245.5 -- 274.4 -- 3524.3 -- 186.8 -- -- -- 3711.0 --  3 Net saving (1 less 2) -- 868.8 -- 482.9 -- -153.1 -- -636.6 -- 561.8 -- 105.8 -- 468.0 -- 1135.7 --  4 Gross investment (5 plus 11) 2655.6 -- 1733.0 -- 108.9 -- -308.5 -- 4189.0 -- 318.1 -- 166.3 -- 4673.4 -- 173.4 5 Capital expenditures 1811.3 -- 2042.1 -- 343.9 -- 251.1 -- 4448.5 -- 221.8 -- 0.1 -- 4670.3 -- 176.4 6 Consumer durables 1229.1 -- -- -- -- -- -- -- 1229.1 -- -- -- -- -- 1229.1 -- --  7 Residential 452.4 -- 99.2 -- 5.3 -- 1.5 -- 558.5 -- 7.4 -- -- -- 565.9 -- --  8 Nonresidential 137.1 -- 1859.1 -- 330.4 -- 252.4 -- 2578.9 -- 214.3 -- -- -- 2793.2 -- --  9 Inventory change -- -- 82.0 -- -- -- -- -- 82.0 -- -- -- -- -- 82.0 -- -- 10 Nonproduced nonfinancial assets -7.3 -- 1.8 -- 8.3 -- -2.8 -- -0.1 -- -- -- 0.1 -- -- -- -- 11 Net lending (+) or net borrowing (-) 844.3 -- -309.1 -- -235.1 -- -559.6 -- -259.5 -- 96.4 -- 166.2 -- 3.0 -- -3.012 Total financial assets 1265.4 -- 911.2 -- 156.2 -- 233.6 -- 2566.3 -- 3114.4 -- 1028.7 -- 6709.4 -- -- 13 Total liabilities -- 421.1 -- 1220.3 -- 391.3 -- 793.2 -- 2825.8 -- 3018.1 -- 862.5 -- 6706.4 -- 14 U.S. official reserve assets -- -- -- -- -- -- -3.8 0.0 -3.8 0.0 0.2 -- 0.0 -3.6 -3.6 -3.6 -- 15 SDR certificates -- -- -- -- -- -- -- 0.0 -- 0.0 0.0 -- -- -- 0.0 0.0 -- 16 Treasury currency -- -- -- -- -- -- -- -0.3 -- -0.3 0.8 -- -- -- 0.8 -0.3 -1.117 Foreign deposits -5.4 -- -6.0 -- -- -- -- -- -11.4 -- -9.6 -- -- -105.1 -21.0 -105.1 -84.118 Interbank claims -- -- -- -- -- -- -- -- -- -- 131.5 51.2 -33.2 -- 98.3 51.2 -47.119 Checkable dep. and currency 113.9 -- 99.0 -- 16.0 -- 60.8 -- 289.6 -- -19.1 351.1 79.7 -- 350.2 351.1 0.920 Time and savings deposits 406.0 -- 37.8 -- 10.4 -- 0.2 -- 454.4 -- 11.8 513.2 47.0 -- 513.2 513.2 -- 21 Money market fund shares -33.6 -- 10.3 -- 12.4 -- -- -- -10.9 -- 17.9 9.6 2.6 -- 9.6 9.6 -- 22 Fed. funds and security RPs -- -- 4.7 -- 10.3 -- -- -- 15.0 -- 45.4 7.8 123.3 34.9 183.7 42.6 -141.123 Credit market instruments -477.1 386.4 -11.8 683.1 73.2 -13.7 115.2 667.1 -300.5 1723.0 1914.3 271.7 536.9 156.1 2150.7 2150.7 -- 24 Open market paper -0.1 -- -6.6 37.9 -5.0 -- -- -- -11.7 37.9 -16.9 -36.6 7.4 -22.6 -21.2 -21.2 -- 25 Treasury securities -174.7 -- -1.7 -- 68.6 -- -- 667.2 -107.8 667.2 499.0 -- 276.1 -- 667.2 667.2 -- 26 Agency- and GSE-backed sec. -89.6 -- 2.5 -- -15.0 -- 0.0 -0.1 -102.2 -0.1 245.4 150.6 7.2 -- 150.5 150.5 -- 27 Municipal securities -66.0 -4.8 -8.2 -0.1 0.8 -14.0 -- -- -73.4 -18.8 50.2 -- 4.4 -- -18.8 -18.8 -- 28 Corporate and fgn. bonds -131.9 -- -- 264.9 10.3 -- -0.0 -- -121.6 264.9 390.5 68.6 211.9 147.3 480.8 480.8 -- 29 Depository inst. loans n.e.c. -- 120.2 -- 157.0 -- -- -- -- -- 277.2 308.0 2.2 -- 28.6 308.0 308.0 -- 30 Other loans and advances -1.6 2.9 -- 72.6 -- 0.4 2.4 -- 0.8 75.9 121.0 73.1 29.9 2.8 151.7 151.7 -- 31 Mortgages -7.4 49.6 3.6 150.7 13.5 -- 1.7 0.0 11.4 200.4 202.8 13.8 -- -- 214.1 214.1 -- 32 Consumer credit -5.7 218.4 -1.3 -- -- -- 111.1 -- 104.0 218.4 114.4 -- -- -- 218.4 218.4 -- 33 Corporate equities 28.5 -- -- -387.5 5.5 -- -1.6 -- 32.3 -387.5 118.9 219.6 118.0 437.1 269.2 269.2 -- 34 Mutual fund shares 520.0 -- 15.3 -- 2.8 -- -- -- 538.1 -- 6.8 594.2 49.3 -- 594.2 594.2 -- 35 Trade credit -- 3.1 140.4 109.4 7.7 40.7 -2.7 17.5 145.4 170.8 1.1 3.4 7.2 -12.8 153.8 161.3 7.536 Security credit 53.5 30.4 -- -- -- -- -- -- 53.5 30.4 42.3 65.4 -- -- 95.8 95.8 -- 37 Life insurance reserves 45.3 -- -- -- -- -- -- 0.8 45.3 0.8 10.9 55.5 -- -- 56.3 56.3 -- 38 Pension entitlements 548.5 -- -- -- -- -- -- -- 548.5 -- -- 548.5 -- -- 548.5 548.5 -- 39 Taxes payable -- -- -- 6.8 6.5 -- 53.0 -- 59.4 6.8 -- 15.9 -- -- 59.4 22.7 -36.740 Equity in noncorp. business 50.6 -- -- 48.3 -- -- -- -- 50.6 48.3 -- 2.3 -- -- 50.6 50.6 -- 41 U.S. direct investment abroad -- -- 330.3 -- -- -- -- -- 330.3 -- 27.7 -- -- 358.0 358.0 358.0 -- 42 Foreign direct investment in U.S. -- -- -- 80.7 -- -- -- -- -- 80.7 -- 17.1 97.8 -- 97.8 97.8 -- 43 Miscellaneous 15.2 1.2 291.2 679.4 11.4 364.2 12.5 108.1 330.3 1152.8 813.6 291.7 -- -2.0 1143.9 1442.4 298.544 Sector discrepancies (1 less 4) -357.8 -- 325.2 -- -16.5 -- -53.7 -- -102.8 -- -25.5 -- 301.7 -- 173.4 -- 173.4General notes: U = use of funds; S = source of funds. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government.
Summary

2

Z.1, June 11, 2015 Flow of Funds Matrix for 2014

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

Households State Domestic Domestic Instrument

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

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

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

 1 Total financial assets 68314.7 -- 21633.9 -- 3057.6 -- 1901.3 -- 94907.6 -- 85061.9 -- 22808.8 -- 202778.2 -- -7084.5 2 Total liabilities and equity -- 14168.9 -- 54570.2 -- 5112.7 -- 16920.0 -- 90771.8 -- 87621.3 -- 17300.6 -- 195693.7 --  3 Total liabilities -- 14168.9 -- 22381.7 -- 5112.7 -- 16920.0 -- 58583.3 -- 80314.0 -- 10615.4 -- 149512.7 --  4 U.S. official reserve assets -- -- -- -- -- -- 98.0 51.2 98.0 51.2 32.0 -- 51.2 118.9 181.1 170.0 -11.0 5 SDR certificates -- -- -- -- -- -- -- 5.2 -- 5.2 5.2 -- -- -- 5.2 5.2 --  6 Treasury currency -- -- -- -- -- -- -- 25.3 -- 25.3 46.3 -- -- -- 46.3 25.3 -21.0 7 Foreign deposits 47.0 -- 72.1 -- -- -- -- -- 119.1 -- 24.1 -- -- 856.1 143.3 856.1 712.8 8 Interbank claims -- -- -- -- -- -- -- -- -- -- 2453.3 2801.5 381.1 -- 2834.3 2801.5 -32.8 9 Checkable dep. and currency 1127.5 -- 1017.1 -- 140.7 -- 226.8 -- 2512.2 -- 351.5 3537.5 671.0 -- 3534.7 3537.5 2.810 Time and savings deposits 7867.4 -- 1057.1 -- 321.7 -- 1.7 -- 9247.9 -- 709.0 10448.7 491.8 -- 10448.7 10448.7 -- 11 Money market fund shares 1102.1 -- 652.4 -- 173.2 -- -- -- 1927.7 -- 649.6 2688.1 110.8 -- 2688.1 2688.1 -- 12 Fed. funds and security RPs -- -- 13.5 -- 138.2 -- -- -- 151.7 -- 2783.9 2943.3 857.4 756.5 3793.0 3699.8 -93.213 Credit market instruments 3314.5 13512.1 268.4 11979.1 1584.0 2927.5 1154.4 13019.9 6321.3 41438.7 42134.4 14201.8 10328.2 3143.5 58783.9 58783.9 -- 14 Open market paper 14.9 -- 31.6 182.4 69.3 -- -- -- 115.8 182.4 706.8 363.6 107.9 384.3 930.4 930.4 -- 15 Treasury securities 696.7 -- 95.5 -- 660.8 -- -- 12995.6 1453.1 12995.6 5386.3 -- 6156.2 -- 12995.6 12995.6 -- 16 Agency- and GSE-backed sec. 41.3 -- 12.8 -- 443.6 -- 0.0 24.4 497.7 24.4 6544.4 7920.2 902.6 -- 7944.6 7944.6 -- 17 Municipal securities 1540.0 223.1 19.8 518.4 14.3 2910.9 -- -- 1574.0 3652.4 1997.9 -- 80.5 -- 3652.4 3652.4 -- 18 Corporate and fgn. bonds 874.9 -- -- 4406.4 176.9 -- 0.5 -- 1052.3 4406.4 7623.5 4760.6 2910.7 2419.5 11586.5 11586.5 -- 19 Depository inst. loans n.e.c. -- 212.9 -- 1933.0 -- -- -- -- -- 2145.9 2816.7 365.4 -- 305.3 2816.7 2816.7 -- 20 Other loans and advances 24.3 144.2 -- 1323.1 -- 16.6 195.8 -- 220.1 1483.9 1695.9 568.0 170.3 34.4 2086.3 2086.3 -- 21 Mortgages 68.8 9614.8 65.8 3615.7 219.2 -- 117.2 0.0 471.0 13230.4 12983.2 223.8 -- -- 13454.2 13454.2 -- 22 Consumer credit 53.6 3317.2 43.0 -- -- -- 840.9 -- 937.4 3317.2 2379.8 -- -- -- 3317.2 3317.2 -- 23 Corporate equities 13360.7 -- -- 22283.4 178.3 -- 33.4 -- 13572.4 22283.4 16848.4 7287.7 5835.5 6685.2 36256.3 36256.3 -- 24 Mutual fund shares 7695.3 -- 234.9 -- 86.7 -- -- -- 8016.8 -- 3962.9 12603.6 623.9 -- 12603.6 12603.6 -- 25 Trade credit -- 258.1 3326.7 2565.3 179.6 826.5 51.0 269.0 3557.3 3918.9 132.1 17.9 161.3 45.9 3850.6 3982.7 132.126 Security credit 869.0 369.5 -- -- -- -- -- -- 869.0 369.5 463.1 962.5 -- -- 1332.0 1332.0 -- 27 Life insurance reserves 1282.8 -- -- -- -- -- -- 51.3 1282.8 51.3 194.6 1426.1 -- -- 1477.4 1477.4 -- 28 Pension entitlements 20783.7 -- -- -- -- -- -- -- 20783.7 -- -- 20783.7 -- -- 20783.7 20783.7 -- 29 Taxes payable -- -- -- 162.6 137.2 -- 173.0 -- 310.2 162.6 -- -43.2 -- -- 310.2 119.4 -190.830 Equity in noncorp. business 9924.7 -- -- 9905.1 -- -- -- -- 9924.7 9905.1 -- 19.6 -- -- 9924.7 9924.7 -- 31 U.S. direct investment abroad -- -- 4594.1 -- -- -- -- -- 4594.1 -- 941.7 -- -- 5535.8 5535.8 5535.8 -- 32 Foreign direct investment in U.S. -- -- -- 2720.2 -- -- -- -- -- 2720.2 -- 576.5 3296.6 -- 3296.6 3296.6 -- 33 Miscellaneous 940.1 29.1 10397.6 4954.5 118.1 1358.6 163.0 3498.2 11618.7 9840.4 13329.8 7366.0 -- 158.8 24948.5 17365.2 -7583.3General notes: A = assets; L = liabilities. Domestic nonfinancial sectors (columns 9 and 10) are households and nonprofit organizations, nonfinancial business, state and local governments, and federal government. Equity included in line 2 is the sum of corporate equities (line 23) and equity in noncorporate business (line 30). The matrix shows a discrepancy in column 17 for monetary gold (line 4) because by international accounting convention, monetary gold is a financial asset without a corresponding liability.
S

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Z.1, June 11, 2015 3

D.1 Credit Market Debt Growth by Sector 1

In percent; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1980 9.4 8.2 10.9 1.0 10.1 8.5 6.9 11.8 14.9 13.6

1981 10.3 7.3 7.2 5.5 12.9 13.6 8.0 11.6 18.4 11.6

1982 10.4 5.6 4.8 5.0 9.9 10.3 11.2 19.7 13.6 7.1

1983 12.0 11.0 10.2 12.1 9.2 8.4 11.4 18.9 13.3 7.4

1984 14.9 13.0 11.4 18.4 16.1 16.6 11.4 16.9 17.5 3.5

1985 15.6 16.1 14.6 15.9 11.0 12.6 31.8 16.5 19.3 0.6

1986 11.9 11.4 13.7 9.1 11.5 13.9 10.9 13.6 26.2 3.0

1987 9.1 10.4 13.4 4.8 7.8 8.9 12.0 8.0 18.3 3.3

1988 9.1 9.9 11.8 6.7 9.9 10.9 6.0 8.0 13.1 -1.2

1989 7.2 9.1 10.9 6.3 6.3 7.3 5.3 7.0 10.5 -2.0

1990 6.5 7.1 8.8 1.9 3.6 5.3 5.0 11.0 8.6 2.8

1991 4.4 5.1 7.0 -1.1 -2.1 -2.1 9.2 11.1 5.9 3.4

1992 4.6 5.4 6.5 1.1 -0.3 0.6 1.5 10.9 8.5 4.0

1993 5.6 6.1 5.5 7.4 3.1 5.3 5.3 8.3 9.7 15.8

1994 5.1 7.7 5.6 15.2 5.4 7.1 -3.9 4.7 14.0 -4.5

1995 4.9 7.1 4.9 14.4 5.9 6.7 -5.5 4.1 11.4 15.3

1996 4.9 6.7 6.2 9.0 5.4 5.2 -2.0 4.0 12.4 14.1

1997 5.3 5.9 6.1 5.5 8.5 8.6 4.9 0.6 12.0 10.8

1998 6.5 7.5 8.0 7.2 11.5 10.8 6.2 -1.4 19.4 4.5

1999 6.2 8.0 9.4 7.8 10.5 9.6 3.3 -1.9 16.6 1.8

2000 4.9 9.0 8.7 11.4 9.1 8.3 1.4 -8.0 10.7 7.5

2001 6.1 9.6 10.6 8.6 5.2 3.8 8.8 -0.2 10.6 -2.4

2002 7.1 10.6 13.3 5.6 2.2 0.1 11.1 7.6 9.6 6.3

2003 7.8 11.9 14.5 5.3 1.1 0.1 8.3 10.9 10.7 1.8

2004 9.0 11.1 13.5 5.6 5.6 3.0 11.4 9.0 8.6 8.6

2005 9.0 11.2 13.4 4.5 8.1 5.3 5.8 7.0 9.4 8.1

2006 8.4 10.2 11.2 5.2 9.8 7.4 3.9 3.9 10.3 21.2

2007 8.2 7.1 7.4 6.1 12.4 11.5 5.5 4.9 12.9 15.7

2008 6.2 1.1 0.9 1.3 5.8 4.1 0.6 24.2 6.0 -9.9

2009 3.3 0.0 0.6 -3.9 -4.3 -5.4 4.0 22.7 -9.7 13.8

2010 4.1 -1.1 -1.7 -1.0 -0.9 -1.2 2.3 20.2 -5.7 7.4

2011 3.6 -0.2 -0.7 4.1 3.0 4.9 -1.7 11.4 -2.4 7.7

2012 5.0 1.5 -0.7 6.1 4.8 5.7 -0.2 10.9 -3.0 7.6

2013 3.8 1.6 0.0 6.0 5.1 6.4 -1.3 6.5 1.5 9.5

2014 4.3 2.9 0.4 7.0 6.0 6.5 -0.5 5.4 1.9 5.3

2009 -- Q1 4.2 0.1 1.3 -3.0 -2.7 -3.7 2.6 25.4 -9.9 4.7

 Q2 4.8 0.3 0.7 -5.9 -3.7 -4.2 4.8 27.1 -12.6 12.6

 Q3 2.5 -0.2 -0.0 -3.2 -5.7 -7.5 3.8 18.9 -9.8 10.8

 Q4 1.5 -0.2 0.5 -3.8 -5.3 -6.8 4.3 12.7 -7.4 22.1

2010 -- Q1 3.7 -2.4 -3.9 -3.1 -1.5 -1.9 3.2 21.4 -6.1 7.9

 Q2 4.1 -0.4 -0.7 -2.6 -3.5 -5.4 0.1 22.3 -7.1 -3.0

 Q3 4.3 -1.2 -1.7 0.1 1.8 3.1 1.8 16.7 -5.0 5.7

 Q4 3.9 -0.5 -0.7 1.6 -0.4 -0.4 4.2 15.1 -5.9 17.5

2011 -- Q1 2.4 -0.2 -0.8 4.0 1.7 2.7 -2.7 8.3 -0.8 15.1

 Q2 2.4 -1.4 -0.7 3.3 3.2 5.3 -3.3 8.5 -4.3 15.8

 Q3 5.0 -0.3 -0.8 4.0 3.4 5.6 -0.4 15.6 -2.5 -3.3

 Q4 4.5 1.0 -0.6 4.8 3.6 5.6 -0.6 11.3 -1.9 2.5

2012 -- Q1 5.0 1.0 -1.0 5.3 3.9 4.7 0.0 12.6 -3.9 -1.5

 Q2 5.5 2.7 -0.6 7.2 3.7 3.8 2.1 11.6 -5.0 3.2

 Q3 3.8 0.5 -0.5 5.3 4.2 4.7 -0.2 8.4 -2.0 13.5

 Q4 5.2 1.9 -0.6 6.3 6.9 9.3 -2.6 9.3 -1.2 13.6

2013 -- Q1 4.1 0.7 -0.8 5.9 3.5 5.7 1.9 9.1 -0.6 13.4

 Q2 3.0 1.6 0.1 5.5 4.9 5.5 -0.2 3.5 0.2 5.2

 Q3 3.6 3.2 1.2 6.5 7.2 9.2 -3.7 2.6 0.7 7.1

 Q4 4.4 0.7 -0.4 5.7 4.4 4.5 -3.3 10.5 5.9 11.9

2014 -- Q1 4.2 2.3 -0.5 6.3 6.0 8.5 -1.3 6.0 -2.2 5.6

 Q2 3.5 3.7 0.4 8.2 4.9 4.5 1.2 2.5 2.3 14.6

 Q3 4.4 2.9 0.9 6.9 5.0 5.4 -2.8 7.2 3.3 1.7

 Q4 4.9 2.8 1.1 6.1 7.7 7.0 1.1 5.4 4.2 -1.3

2015 -- Q1 2.8 2.2 -0.3 5.6 6.6 7.2 4.8 -0.4 -2.4 9.5

1. Data shown are on an end-of-period basis.
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4 Z.1, June 11, 2015

D.2 Credit Market Borrowing by Sector

Billions of dollars; quarterly figures are seasonally adjusted annual rates 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1980 339.1 104.2 90.2 3.4 135.3 72.1 22.2 77.4 75.8 24.1

1981 405.0 101.8 67.0 19.8 190.0 125.3 27.6 85.5 107.8 23.4

1982 451.6 84.1 47.4 18.8 164.4 106.6 41.7 161.3 93.6 16.3

1983 570.6 172.4 105.2 48.2 165.7 94.4 47.3 185.2 104.3 16.7

1984 794.4 223.9 127.6 81.7 320.8 207.1 52.5 197.2 156.2 8.0

1985 955.4 311.4 181.7 84.0 254.7 184.3 163.6 225.7 203.2 1.4

1986 844.7 259.5 199.3 55.8 295.0 227.8 74.2 216.0 330.1 10.2

1987 721.6 263.6 221.6 32.3 223.7 165.6 90.4 143.9 291.8 11.4

1988 786.3 272.2 215.6 46.6 308.5 224.4 50.4 155.1 249.8 -4.4

1989 684.3 276.3 224.9 47.0 214.3 165.9 47.4 146.4 224.8 -7.9

1990 658.8 233.5 200.0 15.1 131.3 131.0 47.1 246.9 207.8 11.1

1991 472.6 183.6 174.5 -8.8 -80.5 -54.3 91.2 278.2 153.1 13.4

1992 514.4 204.3 173.0 9.2 -10.5 16.0 16.5 304.0 236.5 16.4

1993 667.3 239.6 156.3 61.4 113.7 134.3 57.9 256.1 292.9 67.5

1994 639.0 324.4 166.5 135.0 204.3 189.8 -45.5 155.9 464.4 -23.2

1995 640.7 319.5 153.6 147.0 237.5 192.2 -60.8 144.4 433.6 76.4

1996 681.5 324.8 205.1 105.7 232.3 161.9 -20.5 144.9 523.2 89.0

1997 761.9 306.9 215.9 70.3 381.2 279.3 50.8 23.1 570.3 77.7

1998 984.6 412.2 301.5 97.1 558.2 379.2 66.8 -52.6 1026.5 36.0

1999 1007.2 473.8 379.2 112.4 567.3 373.5 37.3 -71.2 1052.6 15.4

2000 846.2 574.4 383.5 176.5 550.8 358.4 16.9 -295.9 790.8 60.5

2001 1106.5 666.1 508.2 150.6 340.6 177.1 105.5 -5.6 862.3 -21.1

2002 1369.0 812.1 706.0 105.2 154.8 3.0 144.6 257.6 881.5 53.6

2003 1598.6 1004.7 872.1 105.9 77.3 3.4 120.5 396.0 1071.6 17.2

2004 1990.5 1051.8 934.7 117.2 398.0 143.3 178.8 361.9 938.8 99.1

2005 2234.3 1177.0 1053.3 100.4 608.7 266.9 141.7 306.9 1113.7 103.9

2006 2289.4 1201.4 997.7 120.4 803.7 388.3 100.9 183.4 1336.4 286.7

2007 2412.7 913.2 733.5 151.3 1115.8 652.5 146.7 237.1 1834.3 260.9

2008 1990.4 145.6 93.6 34.9 587.7 262.1 17.9 1239.2 978.2 -198.2

2009 1102.4 1.3 66.3 -103.6 -455.7 -358.7 113.0 1443.9 -1663.4 222.2

2010 1405.4 -154.0 -182.1 -25.3 -90.4 -70.9 69.5 1580.2 -901.8 149.0

2011 1281.8 -31.5 -73.1 108.6 298.1 294.9 -52.7 1067.9 -341.4 172.8

2012 1823.0 199.5 -65.2 169.4 488.6 362.6 -5.3 1140.2 -419.3 188.6

2013 1470.3 203.0 3.4 175.9 547.1 428.1 -38.9 759.1 213.9 268.8

2014 1723.0 386.4 41.8 218.4 683.1 463.4 -13.7 667.1 271.7 156.1

2009 -- Q1 1413.5 9.7 142.7 -78.7 -284.3 -243.8 73.9 1614.2 -1687.8 76.0

 Q2 1629.3 44.9 70.0 -153.9 -388.5 -274.6 139.2 1833.6 -2153.7 203.3

 Q3 855.2 -24.6 -4.9 -82.6 -599.1 -483.1 111.3 1367.6 -1617.1 189.6

 Q4 511.8 -24.9 57.3 -99.1 -551.0 -433.3 127.6 960.1 -1194.9 419.8

2010 -- Q1 1284.6 -327.7 -410.1 -78.4 -154.9 -117.3 95.2 1672.1 -958.1 158.7

 Q2 1427.8 -55.3 -76.4 -65.6 -350.4 -330.2 2.0 1831.5 -1066.6 -62.4

 Q3 1523.3 -165.2 -175.9 2.8 181.7 185.6 54.2 1452.6 -736.7 116.4

 Q4 1385.8 -67.9 -65.9 39.7 -37.9 -21.9 126.9 1364.7 -845.7 383.2

2011 -- Q1 838.5 -27.9 -82.3 106.8 165.9 164.2 -83.2 783.7 -112.3 341.1

 Q2 854.3 -183.9 -72.7 89.5 321.2 323.8 -99.2 816.1 -620.6 371.3

 Q3 1814.8 -38.6 -74.1 106.7 340.2 343.6 -11.0 1524.1 -358.3 -81.6

 Q4 1619.6 124.2 -63.1 131.3 365.0 348.0 -17.4 1147.8 -274.3 60.4

2012 -- Q1 1854.9 133.3 -93.2 145.1 404.6 295.3 1.1 1315.9 -544.6 -38.3

 Q2 2044.1 347.4 -61.3 200.5 382.8 242.2 61.2 1252.6 -692.7 79.9

 Q3 1429.4 65.7 -50.2 149.8 433.7 304.4 -4.9 934.8 -268.4 344.1

 Q4 1963.7 251.7 -56.0 182.3 733.1 608.2 -78.5 1057.3 -171.5 368.6

2013 -- Q1 1582.8 91.6 -74.6 173.4 377.8 380.5 57.3 1056.0 -82.3 378.6

 Q2 1151.0 208.8 13.2 161.8 533.5 377.4 -4.9 413.6 33.4 151.0

 Q3 1402.3 415.5 112.5 194.3 788.3 636.2 -109.4 307.9 95.0 201.7

 Q4 1745.4 96.1 -37.6 174.2 489.0 318.1 -98.5 1258.8 809.6 344.0

2014 -- Q1 1680.0 298.6 -48.5 194.0 679.1 605.7 -38.8 741.0 -300.4 167.4

 Q2 1399.4 484.2 35.5 257.8 565.1 325.3 35.7 314.4 323.8 444.9

 Q3 1798.6 389.7 81.4 222.8 579.6 399.7 -83.7 913.1 466.2 54.0

 Q4 2013.9 373.1 98.9 199.0 908.7 522.9 32.2 700.0 597.2 -42.0

2015 -- Q1 1172.6 292.1 -28.3 186.8 794.1 542.0 140.2 -53.8 -340.7 298.4
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D.3 Credit Market Debt Outstanding by Sector 1

Billions of dollars; quarterly figures are seasonally adjusted 

Domestic nonfinancial sectors

 

 Households Business State and Domestic 

Home Consumer local Federal financial

 Total Total mortgage credit Total Corporate governments government sectors Foreign

1980 3943.2 1389.1 926.5 358.0 1474.7 919.6 344.4 735.0 584.7 202.1

1981 4349.2 1498.2 998.3 377.9 1658.5 1038.7 372.1 820.5 689.2 229.4

1982 4770.6 1567.5 1031.2 396.7 1807.6 1129.9 413.8 981.8 785.5 224.1

1983 5344.2 1719.8 1116.4 444.9 1996.2 1247.2 461.1 1167.0 890.1 228.2

1984 6138.2 1939.8 1243.3 526.6 2320.6 1458.0 513.6 1364.2 1054.9 228.1

1985 7111.8 2272.0 1450.2 610.6 2572.0 1638.9 677.9 1589.9 1259.0 335.0

1986 7953.5 2529.5 1649.0 666.4 2866.0 1865.8 752.1 1805.9 1596.6 346.1

1987 8656.8 2747.1 1828.6 698.6 3117.4 2059.2 842.6 1949.8 1899.7 357.2

1988 9439.6 3036.3 2054.8 745.2 3405.5 2263.5 893.0 2104.9 2149.5 393.1

1989 10141.0 3305.1 2260.1 809.3 3644.3 2454.1 940.4 2251.2 2402.8 389.2

1990 10827.2 3567.8 2489.3 824.4 3773.8 2583.3 987.4 2498.1 2613.8 396.2

1991 11296.4 3755.0 2667.4 815.6 3686.4 2524.4 1078.6 2776.4 2766.8 406.2

1992 11813.9 3959.4 2840.4 824.8 3679.1 2543.6 1095.1 3080.3 3018.9 425.8

1993 12496.1 4201.3 2999.0 886.2 3805.2 2690.4 1153.0 3336.5 3317.2 520.6

1994 13141.4 4525.0 3165.5 1021.2 4016.5 2887.2 1107.5 3492.3 3789.7 500.4

1995 13797.9 4844.5 3319.2 1168.2 4269.8 3095.2 1046.7 3636.7 4226.3 630.7

1996 14479.4 5182.3 3537.3 1273.9 4489.1 3244.1 1026.2 3781.7 4749.5 720.9

1997 15239.2 5489.2 3753.2 1344.2 4868.3 3521.3 1076.9 3804.8 5299.7 801.7

1998 16223.8 5901.4 4054.7 1441.3 5426.5 3900.4 1143.8 3752.2 6326.2 842.4

1999 17265.4 6375.3 4431.6 1553.6 6028.2 4308.3 1181.0 3681.0 7376.5 803.9

2000 18121.5 6959.5 4813.9 1741.3 6579.0 4666.7 1197.9 3385.1 8168.4 867.6

2001 19211.1 7625.7 5322.0 1891.8 6902.6 4826.8 1303.4 3379.5 9156.8 849.4

2002 20580.1 8437.7 6028.0 1997.0 7057.4 4829.8 1447.9 3637.0 10038.3 955.7

2003 22222.8 9472.5 6909.9 2102.9 7148.8 4847.3 1568.4 4033.1 10945.2 1156.6

2004 24945.3 10544.3 7859.4 2220.1 7557.8 5001.6 2448.2 4395.0 11898.8 1285.2

2005 27179.5 11721.3 8912.7 2320.6 8166.5 5268.5 2589.8 4701.9 12958.0 1350.5

2006 29513.2 12946.2 9910.4 2461.3 8991.0 5677.5 2690.8 4885.3 14261.5 1657.9

2007 31902.8 13831.4 10613.3 2615.1 10111.7 6336.5 2837.5 5122.3 16206.5 1996.6

2008 33755.4 13850.8 10580.7 2650.0 10687.7 6593.7 2855.4 6361.5 17104.6 1604.4

2009 34469.7 13559.6 10419.4 2552.3 10136.3 6150.9 2968.4 7805.4 15715.6 2005.9

2010 35618.2 13230.6 9915.6 2646.9 9964.0 6013.1 3038.0 9385.6 14455.7 2257.9

2011 36751.2 13057.8 9695.9 2755.4 10254.6 6308.0 2985.3 10453.6 14036.3 2484.9

2012 38411.2 13055.1 9490.2 2922.9 10782.3 6714.1 2980.0 11593.7 13802.4 2827.4

2013 39762.4 13170.4 9405.9 3098.8 11298.0 7115.3 2941.1 12352.8 13949.2 2965.7

2014 41438.7 13512.1 9403.1 3317.2 11979.1 7579.2 2927.5 13019.9 14201.8 3143.5

2009 -- Q1 33999.7 13736.8 10570.6 2630.4 10623.9 6542.3 2873.9 6765.1 17106.5 1609.9

 Q2 34353.2 13697.1 10531.4 2597.7 10523.9 6473.7 2908.7 7223.5 16534.5 1751.0

 Q3 34500.8 13628.0 10467.2 2577.0 10370.9 6352.9 2936.5 7565.4 16098.0 1900.6

 Q4 34469.7 13559.6 10419.4 2552.3 10136.3 6150.9 2968.4 7805.4 15715.6 2005.9

2010 -- Q1 34801.2 13471.9 10268.8 2536.3 10113.6 6138.8 2992.2 8223.4 14941.5 2067.1

 Q2 35108.3 13410.6 10202.3 2519.9 10023.6 6056.3 2992.7 8681.3 14651.9 2056.1

 Q3 35445.2 13327.8 10116.7 2520.6 10066.7 6102.7 3006.2 9044.5 14447.1 2195.1

 Q4 35618.2 13230.6 9915.6 2646.9 9964.0 6013.1 3038.0 9385.6 14455.7 2257.9

2011 -- Q1 35786.8 13184.6 9856.0 2673.6 10003.5 6054.1 3017.2 9581.6 14408.8 2346.6

 Q2 35965.2 13105.4 9799.3 2695.9 10081.8 6135.1 2992.3 9785.6 14229.8 2478.5

 Q3 36382.4 13061.1 9746.0 2722.6 10165.1 6221.0 2989.6 10166.6 14121.8 2457.6

 Q4 36751.2 13057.8 9695.9 2755.4 10254.6 6308.0 2985.3 10453.6 14036.3 2484.9

2012 -- Q1 37174.1 13058.8 9637.9 2791.7 10347.2 6372.5 2985.5 10782.6 13945.9 2522.2

 Q2 37641.8 13104.1 9583.0 2839.8 10441.2 6433.1 3000.8 11095.7 13752.7 2558.2

 Q3 37953.8 13025.1 9534.8 2877.3 10599.7 6561.1 2999.6 11329.4 13853.2 2718.3

 Q4 38411.2 13055.1 9490.2 2922.9 10782.3 6714.1 2980.0 11593.7 13802.4 2827.4

2013 -- Q1 38779.2 13051.7 9445.3 2966.2 10875.4 6809.1 2994.3 11857.7 13766.2 2882.3

 Q2 39041.2 13079.5 9424.1 3006.7 11007.5 6903.5 2993.1 11961.1 13759.6 2829.2

 Q3 39358.4 13162.4 9431.3 3055.3 11192.1 7051.1 2965.7 12038.1 13767.7 2884.5

 Q4 39762.4 13170.4 9405.9 3098.8 11298.0 7115.3 2941.1 12352.8 13949.2 2965.7

2014 -- Q1 40167.6 13231.1 9379.7 3147.3 11467.0 7266.5 2931.4 12538.1 13865.5 3040.9

 Q2 40504.9 13340.2 9376.7 3211.8 11607.6 7347.8 2940.4 12616.7 13940.2 3208.0

 Q3 40937.5 13426.2 9385.6 3267.5 11746.9 7442.8 2919.4 12844.9 14055.6 3161.5

 Q4 41438.7 13512.1 9403.1 3317.2 11979.1 7579.2 2927.5 13019.9 14201.8 3143.5

2015 -- Q1 41714.2 13568.4 9379.3 3363.9 12176.8 7714.5 2962.5 13006.5 14110.2 3202.0

1. Data shown are on an end-of-period basis.
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F.1 Total Credit Market Borrowing and Lending (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Credit market borrowing -338.7 652.6 1113.2 1592.3 1953.1 2150.7 1547.0 2168.0 2318.8 2569.2 1130.3 1

 2 Domestic nonfinancial sectors 1102.4 1405.4 1281.8 1823.0 1470.3 1723.0 1680.0 1399.4 1798.6 2013.9 1172.6 2

 3 Household sector 1.3 -154.0 -31.5 199.5 203.0 386.4 298.6 484.2 389.7 373.1 292.1 3

 4 Nonfinancial corporate business -358.7 -70.9 294.9 362.6 428.1 463.4 605.7 325.3 399.7 522.9 542.0 4

 5 Nonfinancial noncorporate business -97.1 -19.4 3.2 126.0 119.0 219.7 73.4 239.7 179.9 385.9 252.2 5

 6 Federal government 1443.9 1580.2 1067.9 1140.2 759.1 667.1 741.0 314.4 913.1 700.0 -53.8 6

 7 State and local governments 113.0 69.5 -52.7 -5.3 -38.9 -13.7 -38.8 35.7 -83.7 32.2 140.2 7

 8 Domestic financial sectors -1663.4 -901.8 -341.4 -419.3 213.9 271.7 -300.4 323.8 466.2 597.2 -340.7 8

 9 U.S.-chartered depository institutions -292.2 -217.6 -50.5 -110.8 -33.5 35.1 -25.8 106.3 35.8 24.0 -136.2 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Credit unions -14.1 -0.4 -2.0 0.9 1.9 8.4 1.7 10.2 12.7 9.0 -2.0 11

 12 Life insurance companies -6.6 -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 12

 13 Government-sponsored enterprises -518.4 -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 13

 14 Agency- and GSE-backed mortgage pools 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 14

 15 ABS issuers -614.1 -413.9 -174.2 -145.1 -234.6 -68.4 -165.8 -90.5 -2.9 -14.3 -73.7 15

 16 Finance companies -156.2 -174.9 -13.5 -56.7 4.2 28.9 -24.5 11.6 48.0 80.2 62.8 16

 17 REITs -27.6 0.1 25.6 35.5 178.4 75.0 140.1 49.4 57.4 53.1 44.4 17

 18 Brokers and dealers -49.7 36.9 -37.9 -1.7 22.2 11.5 41.3 -37.4 42.1 -0.1 -65.9 18

 19 Holding companies -8.0 -16.5 -16.5 -99.9 0.5 -8.3 12.9 4.0 -45.0 -5.2 -55.3 19

 20 Funding corporations -434.8 -65.3 -52.4 -23.9 27.0 26.5 -10.0 77.5 78.3 -39.7 35.2 20

 21 Rest of the world 222.2 149.0 172.8 188.6 268.8 156.1 167.4 444.9 54.0 -42.0 298.4 21

 22 Credit market lending -338.7 652.6 1113.2 1592.3 1953.1 2150.7 1547.0 2168.0 2318.8 2569.2 1130.3 22

 23 Domestic nonfinancial sectors 352.6 71.3 -265.6 -121.7 -512.9 -300.5 -769.1 -172.7 -168.8 -91.3 -377.3 23

 24 Household sector 70.5 -95.1 -207.9 -244.9 -568.8 -477.1 -932.3 -420.3 -267.5 -288.3 -797.4 24

 25 Nonfinancial corporate business 10.2 2.6 -7.1 -12.8 -24.4 -16.7 -5.7 -11.5 -18.2 -31.3 33.3 25

 26 Nonfinancial noncorporate business -6.7 6.6 -4.7 1.8 2.7 4.9 1.9 5.3 3.8 8.6 6.5 26

 27 Federal government 309.2 84.5 18.3 104.9 124.2 115.2 130.2 110.6 115.2 104.8 120.3 27

 28 State and local governments -30.6 72.6 -64.2 29.3 -46.6 73.2 36.8 143.2 -2.1 114.9 260.0 28

 29 Domestic financial sectors -807.8 -37.9 1141.3 1270.5 1914.8 1914.3 1812.0 1942.9 1943.5 1958.8 1147.9 29

 30 Monetary authority 1001.6 271.5 376.5 34.5 1086.1 480.6 911.1 538.5 299.7 173.1 21.6 30

 31 U.S.-chartered depository institutions -280.4 -120.7 173.7 424.0 253.5 672.5 667.0 763.4 534.2 725.5 916.2 31

 32 Foreign banking offices in U.S. -287.5 -24.4 42.5 5.8 -7.2 56.4 67.0 54.6 -3.0 106.9 65.7 32

 33 Banks in U.S.-affiliated areas -2.8 -19.3 -4.9 -0.1 0.3 -5.6 -0.3 -10.3 -7.0 -4.6 -16.3 33

 34 Credit unions 34.1 24.9 38.6 47.0 50.2 60.2 48.5 75.6 82.0 34.8 52.2 34

 35 Property-casualty insurance companies 33.3 3.9 36.2 1.0 30.9 15.8 -14.6 14.7 42.0 21.2 -15.1 35

 36 Life insurance companies 139.8 151.6 125.3 74.3 77.4 99.7 117.7 128.9 76.9 75.3 142.2 36

 37 Private pension funds 9.5 120.6 73.6 146.6 50.7 33.1 -8.2 78.8 45.5 16.3 51.1 37

 38 Federal government retirement funds 7.4 10.9 25.6 15.4 9.4 16.9 6.1 9.4 20.6 31.6 -236.7 38

 39 State and local govt. retirement funds -83.1 22.4 7.4 3.3 79.5 35.1 18.3 35.5 83.3 3.0 2.5 39

 40 Money market mutual funds -619.9 -396.6 -9.8 -82.7 30.8 -120.8 -253.6 -356.5 150.4 -23.6 -102.0 40

 41 Mutual funds 387.1 353.6 359.4 642.0 363.9 476.9 329.7 494.8 491.1 591.8 463.3 41

 42 Closed-end funds 10.5 5.2 -1.7 11.2 13.6 -3.8 1.1 2.8 -10.6 -8.3 -1.4 42

 43 Exchange-traded funds 46.0 29.7 46.1 52.3 12.2 51.0 43.8 48.2 24.4 87.6 77.1 43

 44 Government-sponsored enterprises -337.8 -288.4 -163.2 -189.4 59.8 69.6 -188.3 102.1 193.8 170.6 -199.0 44

 45 Agency- and GSE-backed mortgage pools 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 45

 46 ABS issuers -579.5 -404.2 -170.0 -138.7 -229.2 -64.0 -160.0 -88.9 8.6 -15.6 -73.7 46

 47 Finance companies -214.9 -102.6 -44.4 -28.6 -19.0 13.8 -2.0 19.9 -5.4 42.6 26.8 47

 48 REITs -10.3 44.1 120.2 127.6 39.2 43.8 64.7 35.3 -1.1 76.5 -37.3 48

 49 Brokers and dealers -192.1 32.2 5.7 89.1 -175.4 -81.0 -57.8 -28.8 -145.4 -92.0 53.5 49

 50 Holding companies -16.0 22.1 3.1 -50.1 56.2 -11.1 -25.4 -8.1 36.3 -47.0 -32.0 50

 51 Funding corporations -311.3 38.7 -63.9 -46.4 -0.3 -0.2 169.9 5.1 -56.1 -119.6 -10.0 51

 52 Rest of the world 116.5 619.2 237.4 443.5 551.1 536.9 504.1 397.8 544.1 701.7 359.7 52

(1) Excludes corporate equities and mutual fund shares.
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F.2 Credit Market Borrowing by Nonfinancial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Domestic 1102.4 1405.4 1281.8 1823.0 1470.3 1723.0 1680.0 1399.4 1798.6 2013.9 1172.6 1

 2 By instrument 1102.4 1405.4 1281.8 1823.0 1470.3 1723.0 1680.0 1399.4 1798.6 2013.9 1172.6 2

 3 Commercial paper -73.1 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -70.6 3

 4 Treasury securities 1443.7 1579.6 1066.8 1140.6 759.5 667.2 743.0 314.3 913.8 697.9 -52.8 4

 5 Agency- and GSE-backed securities 0.1 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 5

 6 Municipal securities 155.3 99.7 -52.8 -4.9 -43.2 -18.8 -38.0 15.7 -88.5 35.5 170.0 6

 7 Corporate bonds 215.6 179.3 162.0 323.5 279.8 264.9 286.7 235.4 198.4 339.1 449.7 7

 8 Depository institution loans n.e.c. -307.7 -53.7 70.7 276.9 126.1 277.2 255.1 397.3 180.2 276.3 352.1 8

 9 Other loans and advances -164.8 -82.4 63.6 -22.7 62.4 75.9 147.8 -51.9 84.5 123.1 7.3 9

 10 Mortgages -63.3 -316.9 -171.6 -73.4 96.0 200.4 18.4 172.9 266.1 344.1 131.1 10

 11 Home 23.9 -161.7 -91.8 -77.6 0.9 49.3 -45.9 44.8 92.0 106.2 -20.8 11

 12 Multifamily residential 4.7 -4.8 3.9 34.1 33.8 67.0 42.6 49.1 73.9 102.6 83.6 12

 13 Commercial -103.2 -158.5 -96.8 -35.7 56.2 79.5 17.2 74.4 95.6 130.8 64.6 13

 14 Farm 11.3 8.1 13.1 5.8 5.1 4.6 4.5 4.6 4.6 4.6 3.6 14

 15 Consumer credit -103.6 -25.3 108.6 169.4 175.9 218.4 194.0 257.8 222.8 199.0 186.8 15

 16 By sector 1102.4 1405.4 1281.8 1823.0 1470.3 1723.0 1680.0 1399.4 1798.6 2013.9 1172.6 16

 17 Household sector 1.3 -154.0 -31.5 199.5 203.0 386.4 298.6 484.2 389.7 373.1 292.1 17

 18 Nonfinancial business -455.7 -90.4 298.1 488.6 547.1 683.1 679.1 565.1 579.6 908.7 794.1 18

 19 Corporate -358.7 -70.9 294.9 362.6 428.1 463.4 605.7 325.3 399.7 522.9 542.0 19

 20 Noncorporate -97.1 -19.4 3.2 126.0 119.0 219.7 73.4 239.7 179.9 385.9 252.2 20

 21 Federal government 1443.9 1580.2 1067.9 1140.2 759.1 667.1 741.0 314.4 913.1 700.0 -53.8 21

 22 State and local governments 113.0 69.5 -52.7 -5.3 -38.9 -13.7 -38.8 35.7 -83.7 32.2 140.2 22

 23 Foreign borrowing in U.S. 222.2 149.0 172.8 188.6 268.8 156.1 167.4 444.9 54.0 -42.0 298.4 23

 24 Commercial paper 59.4 -2.7 -53.5 27.9 34.0 -22.6 63.8 33.9 -205.9 17.7 149.8 24

 25 Bonds 177.2 127.4 181.7 124.7 194.4 147.3 48.2 349.8 290.6 -99.2 108.7 25

 26 Depository institution loans n.e.c. -14.8 24.0 43.2 30.4 39.1 28.6 54.9 56.4 -30.6 33.7 40.3 26

 27 Other loans and advances 0.5 0.3 1.4 5.6 1.4 2.8 0.5 4.8 -0.0 5.8 -0.5 27

 28 Domestic and foreign 1324.6 1554.4 1454.6 2011.6 1739.2 1879.1 1847.4 1844.2 1852.6 1971.9 1471.0 28

F.3 Credit Market Borrowing by Financial Sectors

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 By instrument -1663.4 -901.8 -341.4 -419.3 213.9 271.7 -300.4 323.8 466.2 597.2 -340.7 1

 2 Open market paper -448.1 -102.2 -68.2 -58.8 -48.9 -36.6 -83.2 30.9 48.5 -142.5 -148.1 2

 3 GSE issues -518.4 -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 3

 4 Agency- and GSE-backed mortgage pool sec. 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 4

 5 Corporate bonds -448.5 -546.3 -237.4 -225.2 -84.1 68.6 26.0 89.6 61.4 97.3 -27.8 5

 6 Depository institution loans n.e.c. -435.9 -62.5 32.6 -121.2 20.9 2.2 6.1 -132.1 45.8 89.0 26.6 6

 7 Other loans and advances -282.6 -144.7 -60.0 3.5 78.3 73.1 16.0 144.2 79.2 53.1 -44.3 7

 8 Mortgages 11.8 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.2 8

 9 By sector -1663.4 -901.8 -341.4 -419.3 213.9 271.7 -300.4 323.8 466.2 597.2 -340.7 9

 10 U.S.-chartered depository institutions -292.2 -217.6 -50.5 -110.8 -33.5 35.1 -25.8 106.3 35.8 24.0 -136.2 10

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

 12 Credit unions -14.1 -0.4 -2.0 0.9 1.9 8.4 1.7 10.2 12.7 9.0 -2.0 12

 13 Life insurance companies -6.6 -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 13

 14 Government-sponsored enterprises -518.4 -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 14

 15 Agency- and GSE-backed mortgage pools 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 15

 16 ABS issuers -614.1 -413.9 -174.2 -145.1 -234.6 -68.4 -165.8 -90.5 -2.9 -14.3 -73.7 16

 17 Finance companies -156.2 -174.9 -13.5 -56.7 4.2 28.9 -24.5 11.6 48.0 80.2 62.8 17

 18 REITs -27.6 0.1 25.6 35.5 178.4 75.0 140.1 49.4 57.4 53.1 44.4 18

 19 Brokers and dealers -49.7 36.9 -37.9 -1.7 22.2 11.5 41.3 -37.4 42.1 -0.1 -65.9 19

 20 Holding companies -8.0 -16.5 -16.5 -99.9 0.5 -8.3 12.9 4.0 -45.0 -5.2 -55.3 20

 21 Funding corporations -434.8 -65.3 -52.4 -23.9 27.0 26.5 -10.0 77.5 78.3 -39.7 35.2 21
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F.4 Credit Market Borrowing, All Sectors, by Instrument

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total -338.7 652.6 1113.2 1592.3 1953.1 2150.7 1547.0 2168.0 2318.8 2569.2 1130.3 1

 2 Open market paper -461.8 -80.4 -88.3 -16.9 -0.8 -21.2 55.6 122.7 -135.3 -128.0 -68.8 2

 3 Treasury securities 1443.7 1579.6 1066.8 1140.6 759.5 667.2 743.0 314.3 913.8 697.9 -52.8 3

 4 Agency- and GSE-backed securities -59.9 -46.2 -20.8 -22.8 239.5 150.5 -280.0 184.8 225.2 471.9 -165.4 4

 5 Municipal securities 155.3 99.7 -52.8 -4.9 -43.2 -18.8 -38.0 15.7 -88.5 35.5 170.0 5

 6 Corporate and foreign bonds -55.6 -239.6 106.4 222.9 390.1 480.8 360.9 674.8 550.3 337.2 530.6 6

 7 Depository institution loans n.e.c. -758.5 -92.2 146.6 186.1 186.1 308.0 316.2 321.6 195.3 399.0 419.1 7

 8 Other loans and advances -446.9 -226.8 4.9 -13.6 142.1 151.7 164.3 97.1 163.6 181.9 -37.6 8

 9 Mortgages -51.5 -316.1 -158.2 -68.5 103.8 214.1 31.0 179.4 271.6 374.6 148.3 9

 10 Consumer credit -103.6 -25.3 108.6 169.4 175.9 218.4 194.0 257.8 222.8 199.0 186.8 10

 Memo:

 Funds raised through corporate equities and mutual fund shares

 11 Total net issues 825.5 390.0 54.8 551.6 723.3 863.3 557.0 1042.1 837.3 1017.0 864.0 11

 12 Corporate equities 328.4 19.9 -283.6 -73.3 84.8 269.2 -139.7 391.8 254.7 569.9 315.1 12

 13 Nonfinancial -51.2 -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -541.7 13

 Foreign shares purchased by

 14 U.S. residents 63.7 79.2 7.0 103.3 275.2 437.1 325.0 365.9 511.9 545.8 541.8 14

 15 Financial 315.9 191.4 164.1 168.3 162.5 219.6 37.1 298.9 177.1 365.1 315.1 15

 16 Mutual fund shares 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 16

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 Net flows through credit markets

 1 (from table F.4, line 1) -338.7 652.6 1113.2 1592.3 1953.1 2150.7 1547.0 2168.0 2318.8 2569.2 1130.3 1

 2 U.S. official reserve assets 99.9 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -9.8 2

 3 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Treasury currency -0.4 -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 4

 5 Foreign deposits -43.9 71.6 -215.0 -144.0 32.7 -105.1 -118.5 -71.7 197.8 -427.9 -130.0 5

 6 Net interbank transactions -536.9 -142.8 820.5 -194.5 1129.1 51.2 1175.1 98.3 262.0 -1330.5 595.8 6

 7 Checkable deposits and currency -7.9 266.3 234.5 267.7 332.6 351.1 183.4 578.9 229.8 412.1 -205.7 7

 8 Small time and savings deposits 517.2 298.3 577.4 539.6 307.0 365.0 517.3 355.7 449.6 137.3 1031.1 8

 9 Large time deposits -173.6 -182.7 -173.3 -19.2 102.1 148.2 231.4 69.6 -278.3 570.3 -138.7 9

 10 Money market fund shares -498.7 -503.2 -112.8 7.1 28.9 9.6 -86.3 -143.8 39.7 228.7 -47.5 10

 11 Security repurchase agreements -344.9 421.3 276.3 251.3 -473.0 42.6 316.3 160.0 -389.5 83.7 209.8 11

 12 Corporate equities 328.4 19.9 -283.6 -73.3 84.8 269.2 -139.7 391.8 254.7 569.9 315.1 12

 13 Mutual fund shares 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 13

 14 Trade payables 7.8 154.9 128.6 139.0 185.8 161.3 61.8 254.4 154.7 174.3 164.8 14

 15 Security credit -5.4 105.0 -7.4 97.7 104.3 95.8 147.5 225.5 172.7 -162.6 -53.2 15

 16 Life insurance reserves 27.4 14.4 81.1 -11.9 30.0 56.3 41.7 52.6 56.2 74.5 87.1 16

 17 Pension entitlements 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 17

 18 Taxes payable -3.4 19.4 20.1 16.8 12.2 22.7 30.9 42.6 13.3 4.1 105.7 18

 19 Noncorporate proprietors’ equity -107.6 167.2 161.0 133.5 75.6 50.6 73.9 31.5 63.0 33.9 16.9 19

 20 Miscellaneous 245.3 593.8 1158.3 1008.3 1134.9 1442.4 2230.7 1523.5 1026.4 989.1 1706.0 20

 21 Total financial sources 523.7 3431.1 5286.5 5245.7 6759.7 6706.4 7190.7 7557.8 6417.2 5659.6 6561.9 21

 - Liabilities not identified as assets:

 22 Treasury currency -4.4 -1.1 -0.7 -0.6 -1.1 -1.1 -1.0 -0.9 -1.8 -0.5 -1.5 22

 23 Foreign deposits -55.1 49.2 -136.3 -137.3 -3.2 -84.1 -14.8 -137.9 190.9 -374.4 -129.1 23

 24 Net interbank liabilities 14.5 25.8 3.5 5.7 56.8 -47.1 189.5 -55.5 -139.3 -183.0 298.6 24

 25 Security repurchase agreements 208.6 54.6 70.2 -6.3 -161.8 -141.1 -40.0 -323.8 15.1 -215.5 -29.8 25

 26 Taxes payable -33.5 -8.6 -8.1 -19.7 -19.2 -36.7 -23.1 -73.9 -14.6 -35.1 -70.2 26

 27 Miscellaneous 246.3 258.2 415.4 326.1 -176.7 298.5 53.3 188.3 630.8 321.7 138.2 27

 - Floats not included in assets:

 28 Checkable deposits: State and local govt. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Federal govt. 0.7 0.0 -0.1 0.6 0.4 1.1 -43.2 97.6 4.4 -54.3 -42.0 29

 30 Private domestic -1.0 -1.1 0.9 0.9 -1.2 -0.3 4.0 0.1 -5.8 0.7 1.4 30

 31 Trade credit 122.7 -10.2 -42.8 64.2 -130.3 7.5 -61.0 22.9 50.7 17.5 -19.8 31

 Totals identified to sectors

 32 as assets 24.9 3064.3 4984.5 5012.0 7195.8 6709.4 7127.3 7840.8 5686.8 6182.7 6416.0 32
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L.1 Credit Market Debt Outstanding (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total credit market debt owed by: 52191.2 52331.8 53272.4 55040.9 56677.2 58783.9 57085.8 57558.8 58072.0 58783.9 59045.7 1

 2 Domestic nonfinancial sectors 34469.7 35618.2 36751.2 38411.2 39762.4 41438.7 40183.6 40392.6 40836.3 41438.7 41735.8 2

 3 Household sector 13559.6 13230.6 13057.8 13055.1 13170.4 13512.1 13175.1 13286.6 13398.1 13512.1 13508.6 3

 4 Nonfinancial corporate business 6150.9 6013.1 6308.0 6714.1 7115.3 7579.2 7263.4 7345.6 7448.9 7579.2 7717.7 4

 5 Nonfinancial noncorporate business 3985.4 3950.9 3946.6 4068.2 4182.8 4399.9 4198.6 4257.6 4301.6 4399.9 4460.2 5

 6 Federal government 7805.4 9385.6 10453.6 11593.7 12352.8 13019.9 12614.8 12568.4 12779.4 13019.9 13086.7 6

 7 State and local governments 2968.4 3038.0 2985.3 2980.0 2941.1 2927.5 2931.8 2934.4 2908.3 2927.5 2962.6 7

 8 Domestic financial sectors 15715.6 14455.7 14036.3 13802.4 13949.2 14201.8 13856.4 13946.8 14051.9 14201.8 14104.6 8

 9 U.S.-chartered depository institutions 718.1 882.9 832.4 720.3 686.9 721.9 662.4 705.0 703.3 721.9 669.9 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 0.0 10

 11 Credit unions 26.5 26.1 24.2 25.1 27.0 35.4 27.4 30.0 33.1 35.4 34.9 11

 12 Life insurance companies 48.3 45.1 46.8 51.6 59.4 71.8 61.3 63.3 66.8 71.8 75.4 12

 13 Government-sponsored enterprises 2706.6 6434.5 6247.3 6092.7 6200.2 6275.5 6111.4 6150.6 6186.2 6275.5 6234.6 13

 14 Agency- and GSE-backed mortgage pools 5376.7 1139.5 1304.8 1437.0 1569.4 1644.7 1585.8 1600.0 1623.6 1644.7 1642.5 14

 15 ABS issuers 3292.2 2235.9 1989.0 1769.4 1481.9 1385.6 1430.8 1401.5 1394.0 1385.6 1359.7 15

 16 Finance companies 1044.1 1280.7 1261.9 1205.1 1209.3 1238.2 1198.5 1201.6 1215.6 1238.2 1249.4 16

 17 REITs 339.8 339.9 365.5 401.0 579.4 663.3 614.4 626.8 646.6 663.3 674.4 17

 18 Brokers and dealers 92.9 129.7 91.8 90.2 112.4 123.9 122.7 113.4 123.9 123.9 107.4 18

 19 Holding companies 1253.7 1237.2 1220.8 1416.4 1402.7 1394.3 1405.9 1406.9 1395.6 1394.3 1380.5 19

 20 Funding corporations 816.8 704.2 651.8 593.5 620.5 647.1 635.8 647.8 663.2 647.1 675.8 20

 21 Rest of the world 2005.9 2257.9 2484.9 2827.4 2965.7 3143.5 3045.9 3219.5 3183.8 3143.5 3205.3 21

 22 Total credit market assets held by: 52191.2 52331.8 53272.4 55040.9 56677.2 58783.9 57085.8 57558.8 58072.0 58783.9 59045.7 22

 23 Domestic nonfinancial sectors 7379.5 7630.0 7050.3 6984.9 6687.7 6321.3 6541.8 6426.8 6375.6 6321.3 6388.0 23

 24 Household sector 4835.3 4915.1 4395.5 4208.9 3856.9 3314.5 3666.5 3502.7 3419.0 3314.5 3271.4 24

 25 Nonfinancial corporate business 222.5 228.9 221.8 209.0 184.6 167.9 176.6 170.9 168.8 167.9 170.2 25

 26 Nonfinancial noncorporate business 89.1 95.8 91.1 92.9 95.5 100.4 96.0 97.3 98.3 100.4 102.1 26

 27 Federal government 703.7 791.8 810.1 915.1 1039.2 1154.4 1082.5 1099.1 1139.6 1154.4 1196.1 27

 28 State and local governments 1528.8 1598.4 1531.9 1559.2 1511.5 1584.0 1520.2 1556.7 1549.9 1584.0 1648.2 28

 29 Domestic financial sectors 37149.3 36287.9 37277.3 38547.3 40257.1 42134.4 40576.7 41023.2 41513.4 42134.4 42292.7 29

 30 Monetary authority 1987.7 2259.2 2635.6 2670.1 3756.3 4236.9 3970.1 4108.2 4188.2 4236.9 4228.4 30

 31 U.S.-chartered depository institutions 9117.4 9356.2 9489.9 9866.3 10101.0 10762.9 10167.7 10378.4 10527.8 10762.9 10885.2 31

 32 Foreign banking offices in U.S. 809.7 785.2 827.7 833.5 826.3 882.6 845.6 856.1 854.9 882.6 901.8 32

 33 Banks in U.S.-affiliated areas 88.1 68.9 64.0 63.9 64.1 58.6 64.1 61.5 59.7 58.6 54.5 33

 34 Credit unions 734.6 758.6 796.2 842.3 891.8 951.7 903.8 926.3 945.2 951.7 964.8 34

 35 Property-casualty insurance companies 886.7 890.6 926.8 927.8 958.7 974.5 955.0 958.7 969.2 974.5 970.7 35

 36 Life insurance companies 3022.6 3174.2 3299.6 3373.9 3451.3 3551.0 3477.1 3511.5 3536.5 3551.0 3582.6 36

 37 Private pension funds 775.4 895.9 969.5 1116.2 1166.8 1199.9 1164.8 1184.5 1195.9 1199.9 1212.7 37

 38 Federal government retirement funds 130.9 141.8 167.3 182.7 192.1 209.0 193.6 196.0 201.1 209.0 149.9 38

 39 State and local govt. retirement funds 773.0 795.3 802.7 806.0 885.5 920.6 890.1 899.0 919.8 920.6 921.2 39

 40 Money market mutual funds 2070.0 1673.4 1663.6 1580.9 1611.7 1490.8 1521.0 1387.3 1419.6 1490.8 1440.7 40

 41 Mutual funds 2616.3 2969.9 3329.3 3981.3 4345.2 4822.1 4462.9 4583.4 4692.3 4822.1 4976.7 41

 42 Closed-end funds 141.1 146.4 144.7 155.9 169.4 165.7 169.7 170.4 167.8 165.7 165.3 42

 43 Exchange-traded funds 103.0 132.7 178.8 231.1 243.3 294.3 254.3 266.3 272.4 294.3 313.6 43

 44 Government-sponsored enterprises 2699.7 6333.1 6133.4 5914.8 5956.4 6014.4 5924.2 5945.4 5968.1 6014.4 5975.3 44

 45 Agency- and GSE-backed mortgage pools 5376.7 1139.5 1304.8 1437.0 1569.4 1644.7 1585.8 1600.0 1623.6 1644.7 1642.5 45

 46 ABS issuers 3228.6 2184.1 1941.5 1728.3 1446.2 1354.3 1396.5 1367.7 1363.0 1354.3 1328.4 46

 47 Finance companies 1549.7 1405.4 1359.6 1324.9 1305.4 1318.9 1293.8 1295.1 1296.4 1318.9 1312.8 47

 48 REITs 167.2 211.1 331.2 458.5 497.6 554.0 513.7 522.5 522.2 554.0 544.7 48

 49 Brokers and dealers 525.3 557.5 563.2 652.3 476.9 395.9 450.5 429.6 385.7 395.9 397.5 49

 50 Holding companies 75.8 97.9 101.1 209.2 151.8 140.8 145.5 143.5 152.5 140.8 132.8 50

 51 Funding corporations 270.0 311.0 247.0 190.3 189.7 190.7 226.9 231.8 251.4 190.7 190.7 51

 52 Rest of the world 7662.4 8413.9 8944.8 9508.7 9732.4 10328.2 9967.4 10108.9 10183.0 10328.2 10365.1 52

(1) Excludes corporate equities and mutual fund shares.
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L.2 Credit Market Debt Owed by Nonfinancial Sectors

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Domestic 34469.7 35618.2 36751.2 38411.2 39762.4 41438.7 40183.6 40392.6 40836.3 41438.7 41735.8 1

 2 By instrument 34469.7 35618.2 36751.2 38411.2 39762.4 41438.7 40183.6 40392.6 40836.3 41438.7 41735.8 2

 3 Commercial paper 58.4 82.9 116.3 130.3 144.5 182.4 180.2 185.9 208.5 182.4 187.6 3

 4 Treasury securities 7781.9 9361.5 10428.3 11568.9 12328.3 12995.6 12590.8 12544.4 12755.6 12995.6 13062.6 4

 5 Agency- and GSE-backed securities 23.5 24.2 25.3 24.9 24.5 24.4 24.0 24.0 23.9 24.4 24.1 5

 6 Municipal securities 3672.5 3772.1 3719.4 3714.4 3671.2 3652.4 3660.8 3661.4 3631.1 3652.4 3694.0 6

 7 Corporate bonds 3197.0 3376.3 3538.3 3861.8 4141.5 4406.4 4213.2 4272.1 4321.7 4406.4 4518.9 7

 8 Depository institution loans n.e.c. 1474.2 1465.6 1541.7 1742.8 1868.8 2145.9 1909.4 2014.8 2053.4 2145.9 2210.3 8

 9 Other loans and advances 1458.4 1269.4 1333.0 1372.4 1408.0 1483.9 1440.7 1428.3 1445.9 1483.9 1481.4 9

 10 Mortgages 14251.6 13619.2 13293.5 13072.8 13076.6 13230.4 13059.5 13089.8 13147.2 13230.4 13235.3 10

 11 Home 10939.1 10446.7 10200.8 9975.9 9884.7 9886.8 9852.7 9850.6 9868.8 9886.8 9855.3 11

 12 Multifamily residential 827.8 824.5 828.4 862.5 896.2 967.5 906.9 919.2 937.6 967.5 988.4 12

 13 Commercial 2338.7 2193.9 2097.1 2061.4 2117.6 2193.4 2120.7 2139.6 2159.3 2193.4 2208.1 13

 14 Farm 146.0 154.1 167.2 173.0 178.1 182.7 179.2 180.4 181.5 182.7 183.6 14

 15 Consumer credit 2552.3 2646.9 2755.4 2922.9 3098.8 3317.2 3105.0 3171.9 3249.0 3317.2 3321.6 15

 16 By sector 34469.7 35618.2 36751.2 38411.2 39762.4 41438.7 40183.6 40392.6 40836.3 41438.7 41735.8 16

 17 Household sector 13559.6 13230.6 13057.8 13055.1 13170.4 13512.1 13175.1 13286.6 13398.1 13512.1 13508.6 17

 18 Nonfinancial business 10136.3 9964.0 10254.6 10782.3 11298.0 11979.1 11462.0 11603.2 11750.6 11979.1 12177.9 18

 19 Corporate 6150.9 6013.1 6308.0 6714.1 7115.3 7579.2 7263.4 7345.6 7448.9 7579.2 7717.7 19

 20 Noncorporate 3985.4 3950.9 3946.6 4068.2 4182.8 4399.9 4198.6 4257.6 4301.6 4399.9 4460.2 20

 21 Federal government 7805.4 9385.6 10453.6 11593.7 12352.8 13019.9 12614.8 12568.4 12779.4 13019.9 13086.7 21

 22 State and local governments 2968.4 3038.0 2985.3 2980.0 2941.1 2927.5 2931.8 2934.4 2908.3 2927.5 2962.6 22

 Foreign credit market debt

 23 held in U.S. 2005.9 2257.9 2484.9 2827.4 2965.7 3143.5 3045.9 3219.5 3183.8 3143.5 3205.3 23

 24 Commercial paper 401.3 398.6 345.1 373.0 407.0 384.3 413.8 435.1 390.7 384.3 414.7 24

 25 Bonds 1447.8 1677.6 1913.6 2186.5 2250.4 2419.5 2309.8 2446.9 2463.3 2419.5 2441.0 25

 26 Depository institution loans n.e.c. 137.5 162.0 205.2 237.7 276.7 305.3 290.5 304.5 296.9 305.3 315.4 26

 27 Other loans and advances 19.3 19.6 21.0 30.2 31.6 34.4 31.7 32.9 32.9 34.4 34.2 27

 28 Domestic and foreign 36475.6 37876.1 39236.2 41238.6 42728.0 44582.1 43229.5 43612.1 44020.1 44582.1 44941.2 28

L.3 Credit Market Debt Owed by Financial Sectors

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

 1 By instrument 15715.6 14455.7 14036.3 13802.4 13949.2 14201.8 13856.4 13946.8 14051.9 14201.8 14104.6 1

 2 Open market paper 678.2 576.0 507.9 449.1 400.2 363.6 398.2 384.5 396.9 363.6 349.8 2

 3 GSE issues 2706.6 6434.5 6247.3 6092.7 6200.2 6275.5 6111.4 6150.6 6186.2 6275.5 6234.6 3

 4 Agency- and GSE-backed mortgage pool sec. 5376.7 1139.5 1304.8 1437.0 1569.4 1644.7 1585.8 1600.0 1623.6 1644.7 1642.5 4

 5 Corporate bonds 5736.7 5282.9 4972.8 4870.3 4719.0 4760.6 4714.0 4738.7 4744.2 4760.6 4742.4 5

 6 Depository institution loans n.e.c. 424.2 373.6 400.8 342.3 363.2 365.4 360.8 333.1 345.5 365.4 368.2 6

 7 Other loans and advances 617.9 473.2 413.1 416.6 494.9 568.0 480.9 532.9 542.1 568.0 538.9 7

 8 Mortgages 175.3 176.1 189.5 194.4 202.2 223.8 205.3 206.9 213.3 223.8 228.1 8

 9 By sector 15715.6 14455.7 14036.3 13802.4 13949.2 14201.8 13856.4 13946.8 14051.9 14201.8 14104.6 9

 10 U.S.-chartered depository institutions 718.1 882.9 832.4 720.3 686.9 721.9 662.4 705.0 703.3 721.9 669.9 10

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

 12 Credit unions 26.5 26.1 24.2 25.1 27.0 35.4 27.4 30.0 33.1 35.4 34.9 12

 13 Life insurance companies 48.3 45.1 46.8 51.6 59.4 71.8 61.3 63.3 66.8 71.8 75.4 13

 14 Government-sponsored enterprises 2706.6 6434.5 6247.3 6092.7 6200.2 6275.5 6111.4 6150.6 6186.2 6275.5 6234.6 14

 15 Agency- and GSE-backed mortgage pools 5376.7 1139.5 1304.8 1437.0 1569.4 1644.7 1585.8 1600.0 1623.6 1644.7 1642.5 15

 16 ABS issuers 3292.2 2235.9 1989.0 1769.4 1481.9 1385.6 1430.8 1401.5 1394.0 1385.6 1359.7 16

 17 Finance companies 1044.1 1280.7 1261.9 1205.1 1209.3 1238.2 1198.5 1201.6 1215.6 1238.2 1249.4 17

 18 REITs 339.8 339.9 365.5 401.0 579.4 663.3 614.4 626.8 646.6 663.3 674.4 18

 19 Brokers and dealers 92.9 129.7 91.8 90.2 112.4 123.9 122.7 113.4 123.9 123.9 107.4 19

 20 Holding companies 1253.7 1237.2 1220.8 1416.4 1402.7 1394.3 1405.9 1406.9 1395.6 1394.3 1380.5 20

 21 Funding corporations 816.8 704.2 651.8 593.5 620.5 647.1 635.8 647.8 663.2 647.1 675.8 21
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L.4 Credit Market Debt, All Sectors, by Instrument

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total 52191.2 52331.8 53272.4 55040.9 56677.2 58783.9 57085.8 57558.8 58072.0 58783.9 59045.7 1

 2 Open market paper 1138.0 1057.6 969.3 952.4 951.6 930.4 992.2 1005.5 996.1 930.4 952.1 2

 3 Treasury securities 7781.9 9361.5 10428.3 11568.9 12328.3 12995.6 12590.8 12544.4 12755.6 12995.6 13062.6 3

 4 Agency- and GSE-backed securities 8106.8 7598.2 7577.4 7554.6 7794.1 7944.6 7721.1 7774.6 7833.7 7944.6 7901.2 4

 5 Municipal securities 3672.5 3772.1 3719.4 3714.4 3671.2 3652.4 3660.8 3661.4 3631.1 3652.4 3694.0 5

 6 Corporate and foreign bonds 10381.4 10336.8 10424.7 10918.6 11111.0 11586.5 11237.1 11457.7 11529.2 11586.5 11702.2 6

 7 Depository institution loans n.e.c. 2035.9 2001.2 2147.8 2322.7 2508.8 2816.7 2560.7 2652.4 2695.8 2816.7 2893.9 7

 8 Other loans and advances 2095.6 1762.3 1767.1 1819.2 1934.5 2086.3 1953.4 1994.1 2021.0 2086.3 2054.6 8

 9 Mortgages 14426.8 13795.3 13483.1 13267.2 13278.8 13454.2 13264.8 13296.7 13360.5 13454.2 13463.5 9

 10 Consumer credit 2552.3 2646.9 2755.4 2922.9 3098.8 3317.2 3105.0 3171.9 3249.0 3317.2 3321.6 10

 Memo:

 Selected claims not included above:

 11 Corporate equities 20085.5 23552.5 22940.5 26204.7 33629.1 36256.3 34109.2 35723.8 35025.1 36256.3 36834.8 11

 12 Mutual fund shares 6920.7 7873.0 7870.9 9326.1 11544.4 12603.6 11899.2 12374.8 12343.7 12603.6 12903.8 12

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

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

 Total credit market debt

 1 (from table L.4) 52191.2 52331.8 53272.4 55040.9 56677.2 58783.9 57085.8 57558.8 58072.0 58783.9 59045.7 1

 2 U.S. official reserve assets 174.8 175.5 190.9 193.2 187.7 170.0 187.7 188.6 178.2 170.0 156.8 2

 3 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 Treasury currency 26.2 25.9 25.9 25.9 25.6 25.3 25.6 25.6 25.3 25.3 25.3 4

 5 Foreign deposits 1258.4 1303.9 1066.4 922.8 954.8 856.1 927.5 909.5 959.1 856.1 823.6 5

 6 Net interbank liabilities 1215.5 1068.5 1889.0 1683.8 2812.9 2801.5 3025.0 3052.1 3123.8 2801.5 2864.1 6

 7 Checkable deposits and currency 2093.4 2359.8 2594.3 2853.8 3186.5 3537.5 3183.8 3295.7 3356.9 3537.5 3437.9 7

 8 Small time and savings deposits 6326.5 6624.9 7202.2 7803.9 8110.8 8475.8 8265.3 8290.7 8431.3 8475.8 8757.3 8

 9 Large time deposits 2105.9 1923.2 1750.0 1659.9 1762.0 1972.9 1810.4 1848.6 1833.5 1972.9 1927.1 9

 10 Money market fund shares 3258.6 2755.4 2642.5 2649.6 2678.5 2688.1 2592.5 2522.4 2565.4 2688.1 2609.9 10

 11 Security repurchase agreements 3175.6 3597.9 3878.7 4130.1 3657.1 3699.8 3741.7 3780.5 3680.7 3699.8 3756.3 11

 12 Mutual fund shares 6920.7 7873.0 7870.9 9326.1 11544.4 12603.6 11899.2 12374.8 12343.7 12603.6 12903.8 12

 13 Security credit 936.7 1041.7 1034.2 1131.9 1236.2 1332.0 1273.1 1329.5 1372.7 1332.0 1318.7 13

 14 Life insurance reserves 1242.4 1278.6 1352.3 1359.3 1416.8 1477.4 1428.9 1445.8 1454.8 1477.4 1501.8 14

 15 Pension entitlements 15458.1 17035.7 17447.7 18460.8 19893.7 20783.7 20093.4 20402.1 20476.3 20783.7 20991.9 15

 16 Trade payables 3216.0 3370.8 3499.4 3636.0 3807.9 3982.7 3828.9 3902.2 3942.3 3982.7 4025.0 16

 17 Taxes payable 40.6 53.1 73.4 84.5 96.7 119.4 115.2 119.8 126.4 119.4 156.7 17

 18 Miscellaneous 15799.7 15896.1 16483.5 17153.1 16713.6 17365.2 16868.4 17026.0 17255.7 17365.2 17530.8 18

 19 Total liabilities 121921.0 125618.1 129677.3 136088.1 143228.8 149512.7 144819.6 146677.7 147918.3 149512.7 150853.3 19

 + Financial assets not included in

 liabilities:

 20 Gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 20

 21 Corporate equities 20085.5 23552.5 22940.5 26204.7 33629.1 36256.3 34109.2 35723.8 35025.1 36256.3 36834.8 21

 22 Household equity in noncorp. bus. 6258.6 6894.2 7587.0 8386.5 9502.9 9924.7 9578.5 9668.0 9791.8 9924.7 10156.2 22

 - Liabilities not identified as assets:

 23 Treasury currency -16.5 -17.6 -18.3 -18.8 -19.9 -21.0 -20.2 -20.4 -20.8 -21.0 -21.3 23

 24 Foreign deposits 1067.0 1090.1 931.3 794.5 790.6 712.8 789.2 754.6 802.5 712.8 680.5 24

 25 Net interbank transactions 3.0 24.8 28.3 20.1 76.9 -32.8 49.8 38.6 13.3 -32.8 -37.1 25

 26 Security repurchase agreements 206.2 254.6 325.2 209.6 47.8 -93.2 80.4 -16.2 -34.9 -93.2 -56.3 26

 27 Taxes payable -210.4 -209.0 -199.4 -195.4 -193.0 -190.8 -181.0 -177.2 -178.1 -190.8 -159.2 27

 28 Miscellaneous -5333.3 -5884.0 -6289.7 -6597.5 -7219.2 -7583.3 -7436.4 -7400.1 -7403.3 -7583.3 -7646.5 28

 - Floats not included in assets:

 29 Checkable deposits: State and local govt. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Federal govt. 1.7 2.2 2.3 2.1 1.2 -0.7 1.6 1.7 0.1 -0.7 -2.1 30

 31 Private domestic 4.2 3.2 4.1 4.9 3.7 3.5 4.4 4.6 3.5 3.5 3.5 31

 32 Trade credit 244.5 237.9 195.1 256.8 120.7 132.1 46.4 20.7 43.4 132.1 70.0 32

 33 Totals identified to sectors as assets 152309.6 160573.6 165237.0 176214.1 192763.0 202778.2 195184.1 198874.4 199520.7 202778.2 205023.8 33
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F.6 Distribution of Gross Domestic Product (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross Domestic Product (GDP) 14418.7 14964.4 15517.9 16163.1 16768.0 17418.9 17044.0 17328.2 17599.8 17703.7 17665.0 1

 2 Personal consumption expenditures (2) 9847.0 10202.2 10689.3 11083.1 11484.3 11930.3 11728.5 11870.7 12002.0 12120.2 12112.7 2

 3 Durable goods 1023.3 1070.7 1125.3 1192.1 1249.3 1302.5 1262.3 1298.4 1320.2 1329.0 1324.1 3

 4 Nondurable goods 2175.1 2292.1 2471.1 2549.8 2601.9 2666.2 2628.4 2666.1 2691.3 2679.0 2598.7 4

 5 Services 6648.5 6839.4 7092.8 7341.3 7633.2 7961.7 7837.8 7906.2 7990.4 8112.3 8189.9 5

 6 Gross private domestic investment 1878.1 2100.8 2239.9 2479.2 2648.0 2851.6 2714.4 2843.6 2905.1 2943.3 2947.2 6

 7 Fixed investment (3) 2025.7 2039.3 2198.1 2414.3 2573.9 2769.6 2674.3 2743.4 2810.6 2850.0 2841.5 7

 8 Nonresidential 1633.4 1658.2 1812.1 1972.0 2054.0 2210.5 2134.6 2191.2 2244.3 2272.0 2256.8 8

 9 Household sector (nonprofit organizations) 147.1 134.1 130.8 134.9 136.0 137.1 132.9 136.4 138.9 140.1 139.9 9

 10 Nonfinancial corporate business 1140.6 1178.1 1299.2 1415.1 1475.9 1590.0 1535.5 1575.9 1613.6 1635.0 1623.6 10

 11 Nonfinancial noncorporate business 178.9 183.3 214.6 231.8 240.7 269.1 259.8 265.7 273.7 276.9 270.3 11

 12 Financial institutions 166.9 162.8 167.5 190.2 201.5 214.3 206.3 213.1 218.0 219.9 223.0 12

 13 Residential 392.2 381.1 386.0 442.3 519.9 559.1 539.7 552.2 566.4 578.0 584.7 13

 14 Household sector 321.0 318.3 321.1 368.0 433.4 452.4 434.8 446.2 460.5 468.1 471.3 14

 15 Nonfinancial corporate business 4.7 0.5 -1.8 0.1 -8.1 16.6 28.8 4.5 16.4 16.8 16.1 15

 16 Nonfinancial noncorporate business 65.8 58.3 60.2 68.9 79.9 82.6 79.8 81.7 84.0 85.0 85.6 16

 17 REITs 0.7 4.0 6.5 5.3 14.7 7.4 -3.6 19.7 5.4 8.2 11.7 17

 18 Change in private inventories -147.6 61.5 41.8 64.9 74.1 82.0 40.1 100.3 94.5 93.3 105.8 18

 19 Nonfinancial corporate business -130.8 57.9 34.9 61.8 56.7 66.4 32.9 81.9 75.3 75.5 87.7 19

 20 Nonfinancial noncorporate business -16.8 3.6 6.8 3.0 17.4 15.6 7.2 18.3 19.2 17.8 18.1 20

 21 Net U.S. exports of goods and services -395.4 -512.7 -580.0 -568.3 -508.2 -538.2 -538.0 -549.2 -516.5 -549.2 -563.1 21

 22 Exports 1587.7 1852.3 2106.4 2194.2 2262.2 2337.0 2284.7 2344.3 2366.5 2352.3 2247.4 22

 23 - Imports 1983.2 2365.0 2686.4 2762.5 2770.4 2875.2 2822.7 2893.5 2883.0 2901.5 2810.5 23

 Government consumption expenditures and

 24 gross investment 3089.1 3174.0 3168.7 3169.2 3143.9 3175.2 3139.1 3163.1 3209.3 3189.3 3168.1 24

 25 Consumption expenditures (4) 2442.1 2522.2 2530.9 2549.7 2547.6 2585.6 2564.5 2572.1 2616.2 2589.6 2583.0 25

 26 Federal 933.7 1003.9 1006.1 1003.6 963.0 965.2 957.1 955.5 987.7 960.6 962.7 26

 27 State and local 1508.4 1518.3 1524.8 1546.1 1584.5 1620.4 1607.4 1616.6 1628.5 1629.1 1620.2 27

 28 Gross investment (4) 647.0 651.8 637.9 619.4 596.3 589.6 574.6 591.0 593.0 599.7 585.1 28

 29 Federal 284.0 300.0 297.4 287.8 268.5 253.9 251.0 255.0 253.6 256.1 253.8 29

 30 State and local 363.0 351.9 340.5 331.6 327.8 335.7 323.6 336.1 339.4 343.6 331.3 30

 Memo:

 31 Net U.S. income receipts from rest of the world 151.0 206.0 246.6 227.4 224.3 211.7 211.0 213.5 229.9 192.5 162.1 31

 32 U.S. income receipts 648.9 720.0 792.6 793.8 810.4 827.7 822.6 828.5 847.2 812.4 782.7 32

 33 - U.S. income payments 497.8 514.1 546.0 566.5 586.1 616.0 611.6 615.0 617.3 619.9 620.6 33

 Gross National Product (GNP) =

 34 GDP + net U.S. income receipts 14569.8 15170.4 15764.6 16390.5 16992.4 17630.6 17255.0 17541.7 17829.6 17896.2 17827.1 34

 Acquisition of nonproduced nonfinancial assets (net)

 35 Household sector -9.7 -8.5 -7.8 -7.7 -7.9 -7.3 -7.6 -7.4 -7.2 -7.1 -7.0 35

 36 Nonfinancial corporate business 6.3 -1.1 -0.5 0.9 1.3 1.8 0.3 0.8 5.4 0.5 -0.1 36

 37 Federal government -8.9 -1.0 -0.9 -1.9 -2.4 -2.8 -1.3 -1.9 -6.5 -1.6 -1.0 37

 38 State and local governments 12.3 10.6 9.2 8.7 9.0 8.3 8.6 8.4 8.2 8.0 7.9 38

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 National Income 12126.1 12739.5 13352.3 14069.5 14577.1 15076.5 14733.7 14972.9 15244.9 15354.3 15361.8 1

 2 Compensation of employees 7787.0 7961.4 8269.0 8606.5 8844.8 9227.6 9096.2 9159.5 9260.7 9394.2 9504.0 2

 3 Wages and salaries 6251.4 6377.5 6633.2 6932.1 7124.7 7451.6 7339.8 7391.7 7478.9 7596.1 7688.3 3

 4 Supplements to wages and salaries 1535.6 1583.9 1635.9 1674.4 1720.1 1776.0 1756.4 1767.8 1781.8 1798.1 1815.7 4

 5 Proprietors’ income with IVA and CCAdj 973.0 1032.7 1143.7 1260.2 1336.6 1380.2 1351.0 1381.0 1386.4 1402.5 1390.1 5

 6 Rental income of persons with CCAdj 333.7 402.8 485.3 533.0 595.8 640.2 622.9 635.4 646.7 656.0 662.8 6

 7 Corporate profits with IVA and CCAdj 1397.0 1746.4 1816.6 2022.8 2106.9 2089.8 1942.1 2106.2 2170.7 2140.3 2014.8 7

 8 Corporate profits with IVA 1479.2 1799.7 1738.5 2126.6 2238.7 2419.5 2272.6 2437.4 2501.1 2466.8 2561.7 8

 9 Profits before tax 1472.6 1840.7 1806.8 2136.1 2235.3 2419.9 2297.2 2450.1 2497.1 2435.3 2500.8 9

 10 Domestic nonfinancial 752.5 1039.2 1008.9 1245.4 1298.8 1514.9 1418.8 1541.6 1556.0 1543.2 1612.7 10

 11 Domestic financial 362.9 406.3 375.9 488.9 533.5 511.0 480.8 514.5 530.7 517.7 536.1 11

 12 Rest of the world 357.2 395.2 421.9 401.8 403.1 394.1 397.5 393.9 410.4 374.3 351.9 12

 Less:

 13 Taxes on corporate income 269.4 370.6 379.1 454.8 474.3 592.6 562.3 608.0 602.5 597.7 607.0 13

 14 Domestic nonfinancial 177.8 220.6 228.8 271.4 329.3 389.1 366.2 394.8 400.0 395.4 418.1 14

 15 Domestic financial 91.6 150.0 150.3 183.4 144.9 203.5 196.1 213.2 202.5 202.4 188.9 15

 Equals:

 16 Profits after tax 1203.1 1470.1 1427.7 1681.3 1761.1 1827.3 1734.9 1842.2 1894.6 1837.5 1893.8 16

 17 Net dividends 574.6 564.0 703.7 857.1 959.6 905.1 902.8 902.3 898.4 917.0 922.1 17

 18 Domestic nonfinancial 351.4 375.5 441.0 520.6 536.9 558.6 575.0 554.3 535.0 570.1 592.5 18

 19 Domestic financial 105.1 67.1 107.7 159.7 289.8 166.1 165.5 159.9 174.9 164.0 205.9 19

 20 Rest of the world 118.1 121.4 154.9 176.9 132.9 180.5 162.3 188.1 188.5 183.0 123.8 20

 21 Undistributed profits 628.5 906.2 724.0 824.2 801.5 922.2 832.1 939.9 996.2 920.5 971.7 21

 22 Domestic nonfinancial 223.3 443.1 339.1 453.5 432.6 567.3 477.6 592.6 621.0 577.8 602.2 22

 23 Domestic financial 166.2 189.3 117.9 145.8 98.7 141.4 119.3 141.4 153.3 151.4 141.3 23

 24 Rest of the world 239.1 273.8 267.0 225.0 270.2 213.6 235.2 205.9 221.9 191.3 228.2 24

 25 Inventory valuation adjustment (IVA) 6.7 -41.0 -68.3 -9.5 3.3 -0.5 -24.6 -12.7 4.0 31.5 60.9 25

 26 Capital consumption adjustment (CCAdj) -82.2 -53.3 78.1 -103.8 -131.8 -329.6 -330.5 -331.3 -330.4 -326.5 -546.9 26

 27 Domestic nonfinancial -41.1 -15.2 98.3 -66.5 -88.3 -267.3 -268.4 -268.7 -267.8 -264.4 -463.8 27

 28 Domestic financial -41.2 -38.1 -20.2 -37.3 -43.5 -62.3 -62.1 -62.5 -62.6 -62.1 -83.1 28

 29 Net interest and miscellaneous payments 563.4 489.4 488.1 491.7 499.8 486.3 506.5 461.0 479.3 498.4 529.6 29

 30 Taxes on production and imports 1026.1 1057.1 1102.6 1132.0 1162.4 1203.2 1184.5 1197.9 1212.4 1217.9 1214.6 30

 31 Less: Subsidies 58.3 55.9 60.1 58.0 60.2 57.4 57.7 57.5 57.4 57.0 57.2 31

 32 Business current transfer payments (net) 124.9 128.5 131.5 106.7 120.6 140.6 119.2 123.0 182.4 137.8 137.6 32

 33 To persons (net) 38.7 43.0 50.2 43.1 42.3 44.2 43.1 43.8 44.5 45.3 45.9 33

 34 To government (net) 88.5 87.2 89.2 71.9 89.0 99.6 85.2 84.3 139.0 90.0 87.3 34

 35 To rest of the world (net) -2.3 -1.7 -7.9 -8.3 -10.8 -3.2 -9.1 -5.1 -1.1 2.4 4.4 35

 36 Current surplus of government enterprises -20.6 -22.9 -24.5 -25.3 -29.6 -34.2 -31.1 -33.6 -36.3 -35.7 -34.5 36

 Memo:

 Calculation of Gross Domestic Product

 from National Income: (2)

 37 National Income, from line 1 above 12126.1 12739.5 13352.3 14069.5 14577.1 15076.5 14733.7 14972.9 15244.9 15354.3 15361.8 37

 Plus:

 38 Private consumption of fixed capital 1925.7 1923.5 1971.1 2034.2 2120.8 2216.3 2183.5 2203.8 2228.6 2249.2 2267.6 38

 39 Government consumption of fixed capital 442.7 458.1 479.6 496.0 506.4 519.9 515.2 518.5 521.8 524.2 526.0 39

 40 Statistical discrepancy 75.3 49.2 -38.3 -209.2 -211.9 -182.0 -177.5 -153.5 -165.7 -231.6 -328.3 40

 Less:

 41 Net U.S. income receipts from rest of the world 151.0 206.0 246.6 227.4 224.3 211.7 211.0 213.5 229.9 192.5 162.1 41

 Equals:

 42 Gross Domestic Product 14418.7 14964.4 15517.9 16163.1 16768.0 17418.9 17044.0 17328.2 17599.8 17703.7 17665.0 42

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

(2) The relationship of National Income to Gross Domestic Product is shown on NIPA table 1.7.5 in the Survey of Current Business, Bureau of Economic Analysis.
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F.8 Saving and Investment by Sector (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 2072.5 2255.5 2435.6 2825.6 3034.1 3155.6 3000.9 3148.1 3220.6 3252.9 3298.1 1

 2 Net saving -295.8 -126.1 -15.1 295.4 406.8 419.4 302.1 425.9 470.2 479.5 504.5 2

 3 Net private saving 1224.9 1439.9 1445.0 1607.1 1281.1 1224.6 1103.2 1251.5 1298.0 1245.9 1212.1 3

 4 Domestic business 552.9 811.9 733.9 710.9 673.0 592.1 477.1 595.9 669.8 625.5 485.8 4

 5 Nonfinancial corporate business 381.0 603.5 584.2 563.7 571.3 538.5 492.0 534.3 552.8 574.9 500.0 5

 6 Financial business 171.9 208.4 149.7 147.2 101.7 53.6 -15.0 61.6 117.0 50.6 -14.2 6

 7 Households and institutions 672.0 628.0 711.1 896.2 608.1 632.6 626.1 655.6 628.1 620.4 726.4 7

 8 Net government saving -1520.8 -1566.0 -1460.1 -1311.7 -874.3 -805.2 -801.0 -825.7 -827.8 -766.4 -707.6 8

 9 Federal -1248.8 -1328.7 -1244.1 -1079.1 -649.1 -580.5 -560.1 -598.6 -611.0 -552.2 -505.7 9

 10 State and local -271.9 -237.3 -215.9 -232.6 -225.1 -224.8 -240.9 -227.1 -216.8 -214.3 -201.9 10

 11 Consumption of fixed capital 2368.4 2381.6 2450.6 2530.2 2627.2 2736.2 2698.7 2722.3 2750.4 2773.4 2793.6 11

 12 Private 1925.7 1923.5 1971.1 2034.2 2120.8 2216.3 2183.5 2203.8 2228.6 2249.2 2267.6 12

 13 Domestic business 1522.4 1523.0 1572.8 1629.7 1693.7 1762.1 1735.9 1753.5 1771.9 1787.1 1802.2 13

 14 Nonfinancial corporate business 1092.0 1094.6 1139.2 1183.8 1229.8 1282.1 1263.1 1276.1 1289.1 1300.2 1311.0 14

 15 Nonfinancial noncorporate business 253.0 251.8 265.0 271.7 281.7 294.1 290.4 292.5 295.5 297.8 300.0 15

 16 Financial business 177.4 176.7 168.6 174.1 182.2 185.9 182.4 184.9 187.3 189.1 191.2 16

 17 Households and institutions 403.3 400.5 398.2 404.5 427.1 454.2 447.7 450.3 456.7 462.0 465.4 17

 18 Government 442.7 458.1 479.6 496.0 506.4 519.9 515.2 518.5 521.8 524.2 526.0 18

 19 Federal 234.5 245.3 257.4 264.1 268.0 274.4 272.1 273.7 275.3 276.7 277.9 19

 20 State and local 208.2 212.7 222.2 231.8 238.4 245.5 243.1 244.7 246.5 247.6 248.0 20

 Gross domestic investment, capital account

 21 transactions, and net lending, NIPAs 2147.9 2304.7 2397.3 2616.4 2822.1 2973.6 2823.4 2994.6 3054.9 3021.3 2969.8 21

 22 Gross domestic investment 2525.1 2752.6 2877.8 3098.6 3244.3 3441.2 3289.0 3434.7 3498.1 3543.0 3532.4 22

 23 Gross private domestic investment 1878.1 2100.8 2239.9 2479.2 2648.0 2851.6 2714.4 2843.6 2905.1 2943.3 2947.2 23

 24 Domestic business 1410.0 1648.4 1788.0 1976.3 2078.6 2262.1 2146.8 2261.0 2305.6 2335.2 2336.1 24

 25 Nonfinancial corporate business 1011.1 1239.0 1338.9 1482.3 1539.2 1693.9 1603.7 1692.7 1726.8 1752.6 1751.0 25

 26 Nonfinancial noncorporate business 232.0 246.7 281.7 303.7 337.9 353.9 336.8 355.2 360.8 362.7 362.0 26

 27 Financial business 166.9 162.8 167.5 190.2 201.5 214.3 206.3 213.1 218.0 219.9 223.0 27

 28 Households and institutions 468.1 452.4 451.9 502.9 569.4 589.5 567.6 582.6 599.5 608.2 611.2 28

 29 Gross government investment 647.0 651.8 637.9 619.4 596.3 589.6 574.6 591.0 593.0 599.7 585.1 29

 30 Federal 284.0 300.0 297.4 287.8 268.5 253.9 251.0 255.0 253.6 256.1 253.8 30

 31 State and local 363.0 351.9 340.5 331.6 327.8 335.7 323.6 336.1 339.4 343.6 331.3 31

 32 Capital account transactions (net) (2) 0.6 0.7 1.6 -6.5 0.8 0.3 0.5 0.3 0.3 0.3 0.3 32

 33 Private -121.4 -58.5 -46.7 -23.8 7.5 8.3 6.6 7.5 14.0 5.2 10.1 33

 34 Domestic business -83.4 -29.4 -40.9 -11.1 -4.3 5.2 -7.1 -5.7 41.1 -7.6 -3.1 34

 35 Nonfinancial corporate business 44.6 19.8 -6.9 -15.8 -4.3 -4.8 -7.1 -5.7 1.1 -7.6 -3.1 35

 36 Nonfinancial noncorporate business -6.0 -7.8 -1.6 -4.9 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 36

 37 Financial business -121.9 -41.5 -32.4 9.6 0.0 10.0 0.0 0.0 40.0 0.0 0.0 37

 38 Households and institutions -38.1 -29.1 -5.8 -12.7 11.8 3.1 13.6 13.2 -27.1 12.8 13.1 38

 39 Government 122.0 59.2 48.4 17.3 -6.6 -8.0 -6.1 -7.2 -13.7 -4.9 -9.8 39

 40 Federal 177.4 125.3 113.0 82.8 56.0 55.4 55.6 56.6 54.8 54.4 51.3 40

 41 State and local -55.4 -66.2 -64.6 -65.5 -62.6 -63.3 -61.7 -63.8 -68.6 -59.3 -61.1 41

 42 Net lending (+) or net borrowing (-), NIPAs (3) -377.8 -448.6 -482.1 -475.7 -423.0 -468.0 -466.0 -440.3 -443.5 -522.0 -562.9 42

 43 Private 1469.2 1370.4 1184.6 976.7 534.5 399.0 388.3 450.8 441.8 315.0 194.1 43

 44 Domestic business 824.0 765.2 521.3 166.2 80.6 -95.1 -104.2 -59.3 -70.6 -146.5 -373.4 44

 45 Nonfinancial corporate business (3) 492.6 488.5 353.1 71.7 54.3 -50.5 -19.0 -29.9 -51.7 -101.5 -265.3 45

 46 Nonfinancial noncorporate business 27.0 12.8 -15.1 -27.1 -56.2 -59.8 -46.3 -62.7 -65.3 -64.8 -62.1 46

 47 Financial business 304.4 263.8 183.3 121.5 82.5 15.2 -38.9 33.3 46.4 19.8 -46.0 47

 48 Households and institutions 645.2 605.2 663.3 810.5 454.0 494.1 492.5 510.1 512.4 461.5 567.5 48

 49 Government -1847.1 -1819.0 -1666.7 -1452.4 -957.5 -866.9 -854.3 -891.1 -885.3 -837.0 -757.0 49

 50 Federal -1475.7 -1508.7 -1397.1 -1185.6 -705.6 -615.3 -594.6 -636.4 -644.2 -586.1 -532.8 50

 51 State and local -371.4 -310.3 -269.6 -266.9 -252.0 -251.6 -259.7 -254.7 -241.1 -250.9 -224.2 51

 52 Statistical discrepancy (line 21 less line 1) 75.3 49.2 -38.3 -209.2 -211.9 -182.0 -177.5 -153.5 -165.7 -231.6 -328.3 52

 Addenda:

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

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

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

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

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

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

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

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

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

(2) Consists of net capital transfers shown on table F.9 and the acquisition of nonproduced nonfinancial assets (net) shown on table F.6.

(3) Differs from net lending or net borrowing (capital account) in the Integrated Macroeconomic Accounts of the United States by the statistical discrepancy (line 52).
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F.9 Net Capital Transfers (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Capital transfers paid, by sector 272.2 186.7 137.9 139.8 105.4 115.3 105.5 106.1 147.9 101.5 98.3 1

 2 By private business 40.4 25.8 0.0 14.3 0.0 10.0 0.0 0.0 40.0 0.0 0.0 2

 3 Financial corporations 0.0 0.0 0.0 14.3 0.0 10.0 0.0 0.0 40.0 0.0 0.0 3

 4 Disaster-related insurance benefits 0.0 0.0 0.0 14.3 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 10.0 0.0 0.0 40.0 0.0 0.0 5

 6 Nonfinancial corporations 40.4 25.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

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

 8 By government 206.9 141.4 123.5 98.8 79.3 79.2 78.6 79.7 82.1 76.2 72.7 8

 9 Federal 206.9 141.4 123.5 98.8 79.3 79.2 78.6 79.7 82.1 76.2 72.7 9

 10 Investment grants to state and local govts. 63.4 72.1 69.1 66.6 66.3 66.5 65.1 67.0 71.6 62.2 63.7 10

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

 12 Financial stabilization payments 121.9 41.5 32.4 4.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Other capital transfers paid to business 8.1 12.7 8.0 8.2 5.7 6.6 7.4 6.6 4.3 8.1 3.0 13

 14 Other capital transfers paid to persons 12.9 14.5 12.4 10.5 6.5 5.7 5.8 5.8 5.8 5.5 5.5 14

 15 Capital transfers paid to the rest of the world (net) 0.6 0.7 1.6 1.1 0.8 0.4 0.4 0.4 0.4 0.4 0.4 15

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

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

 18 By persons 24.9 19.5 14.4 19.0 26.2 26.1 26.9 26.3 25.8 25.3 25.6 18

 19 Estate and gift taxes, federal 20.6 15.1 9.6 14.1 20.9 20.9 21.7 21.2 20.7 20.2 20.4 19

 20 Estate and gift taxes, state and local 4.3 4.4 4.7 4.9 5.3 5.2 5.2 5.2 5.1 5.2 5.2 20

 21 By the rest of the world 0.0 0.0 0.0 7.7 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 7.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

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

 24 Capital transfers received, by sector 272.2 186.7 137.9 139.8 105.4 115.3 105.5 106.1 147.9 101.5 98.3 24

 25 By private business 130.0 54.2 40.4 26.3 5.7 6.6 7.4 6.6 4.3 8.1 3.0 25

 26 Financial corporations 121.9 41.5 32.4 4.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

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

 28 Other 121.9 41.5 32.4 4.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Nonfinancial corporations 2.1 4.9 6.4 16.7 5.7 6.6 7.4 6.6 4.3 8.1 3.0 29

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

 31 Other 2.1 4.9 6.4 8.1 5.7 6.6 7.4 6.6 4.3 8.1 3.0 31

 32 Noncorporate business 6.0 7.8 1.6 4.9 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 4.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Other 6.0 7.8 1.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 34

 35 By government 88.3 91.8 83.5 88.3 92.5 92.6 92.0 93.3 97.4 87.5 89.3 35

 36 Federal 20.6 15.1 9.6 14.1 20.9 20.9 21.7 21.2 20.7 20.2 20.4 36

 37 Estate and gift taxes paid by persons 20.6 15.1 9.6 14.1 20.9 20.9 21.7 21.2 20.7 20.2 20.4 37

 38 State and local 67.7 76.7 73.8 74.2 71.6 71.6 70.3 72.2 76.7 67.3 69.0 38

 39 Disaster-related insurance benefits 0.0 0.0 0.0 2.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 39

 40 Estate and gift taxes paid by persons 4.3 4.4 4.7 4.9 5.3 5.2 5.2 5.2 5.1 5.2 5.2 40

 41 Investment grants paid by federal government 63.4 72.1 69.1 66.6 66.3 66.5 65.1 67.0 71.6 62.2 63.7 41

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

 43 By persons 53.3 40.1 12.4 24.0 6.5 15.7 5.8 5.8 45.7 5.5 5.5 43

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

 45 Other 53.3 40.1 12.4 10.5 6.5 15.7 5.8 5.8 45.7 5.5 5.5 45

 46 By the rest of the world 0.6 0.7 1.6 1.1 0.8 0.4 0.4 0.4 0.4 0.4 0.4 46

 47 Capital transfers paid by U.S. government 0.6 0.7 1.6 1.1 0.8 0.4 0.4 0.4 0.4 0.4 0.4 47

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

 Addenda: Net capital transfers paid by sector

 49 By private business (lines 2-25) -89.6 -28.3 -40.4 -12.0 -5.7 3.4 -7.4 -6.6 35.6 -8.1 -3.0 49

 50 Financial corporations (lines 3-26) -121.9 -41.5 -32.4 9.6 0.0 10.0 0.0 0.0 40.0 0.0 0.0 50

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

 52 U.S.-chartered depository institutions -18.2 2.4 3.2 0.0 0.0 10.0 0.0 0.0 40.0 0.0 0.0 52

 53 Financial stabilization payments (2) -18.2 2.4 3.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 53

 54 Other (lines 5-27) 0.0 0.0 0.0 0.0 0.0 10.0 0.0 0.0 40.0 0.0 0.0 54

 55 Government-sponsored enterprises (2) -87.1 -40.2 -31.9 -4.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 55

 56 Holding companies (GMAC) (2) -11.3 -1.5 -0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

 57 Funding corporations (AIG) (2) -5.3 -2.2 -3.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 57

 58 Nonfinancial corporations (lines 6-29) 38.3 20.9 -6.4 -16.7 -5.7 -6.6 -7.4 -6.6 -4.3 -8.1 -3.0 58

 59 Noncorporate business (lines 7-32) -6.0 -7.8 -1.6 -4.9 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 59

 60 By government (lines 8-35) 118.6 49.6 40.0 10.5 -13.2 -13.4 -13.4 -13.6 -15.3 -11.3 -16.7 60

 61 Federal (lines 9-36) 186.3 126.3 113.9 84.7 58.4 58.2 56.9 58.5 61.4 56.0 52.3 61

 62 State and local (lines 16-38) -67.7 -76.7 -73.8 -74.2 -71.6 -71.6 -70.3 -72.2 -76.7 -67.3 -69.0 62

 63 By persons (lines 18-43) -28.4 -20.6 2.0 -5.0 19.7 10.4 21.2 20.6 -19.9 19.8 20.1 63

 64 By the rest of the world (lines 21-46) -0.6 -0.7 -1.6 6.5 -0.8 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 64

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

(2) Sum of lines 53, 55, 56, and 57 equals the negative of line 12. Series treated as capital losses rather than as capital transfers in the Financial Accounts of the United States.
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F.10 Derivation of Measures of Personal Saving (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 665.9 778.9 1299.0 1538.5 1074.1 1451.6 1042.6 1729.5 995.3 2039.1 1819.2 1

 2 Foreign deposits -7.2 4.5 -9.9 -7.7 2.8 -5.4 -3.9 -4.7 11.5 -24.7 -8.4 2

 3 Checkable deposits and currency 115.8 36.2 326.1 236.4 124.0 147.8 326.5 259.1 -59.8 65.4 268.8 3

 4 Time and savings deposits 101.1 165.8 375.3 422.0 221.4 433.1 505.7 251.3 204.0 771.5 726.4 4

 5 Money market fund shares -269.2 -180.5 -18.5 3.3 27.9 -29.3 113.6 22.4 -56.1 -197.2 -13.9 5

 6 Securities 434.6 -6.6 -165.9 170.8 25.5 89.2 -720.6 426.5 75.0 576.0 47.7 6

 7 Open market paper 16.7 -1.5 -1.8 -0.6 -3.8 -0.1 3.5 0.9 -0.6 -4.2 1.4 7

 8 Treasury securities 532.6 317.2 -215.3 215.4 -194.3 -174.7 -351.2 -435.7 25.6 62.6 -309.2 8

 9 Agency- and GSE-backed securities -671.6 -10.2 -11.0 -111.8 -75.4 -89.6 -386.4 31.1 -73.4 70.2 -44.2 9

 10 Municipal securities 107.2 44.1 -65.4 -144.4 -55.1 -65.6 -56.4 -21.1 -161.4 -23.6 13.4 10

 11 Corporate and foreign bonds 97.6 -422.2 91.7 -178.3 -227.8 -131.9 -132.9 35.2 -45.4 -384.7 -443.7 11

 12 Corporate equities (2) -17.8 -183.9 -294.2 -194.7 -30.7 28.5 -418.6 316.1 -164.9 381.4 367.0 12

 13 Mutual fund shares 375.6 247.9 329.2 581.1 611.0 520.0 620.4 497.0 492.9 469.5 459.2 13

 14 Life insurance reserves 24.6 6.2 73.5 -26.6 19.2 45.3 31.3 41.4 46.4 62.2 77.7 14

 15 Pension entitlements 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 15

 16 Miscellaneous and other assets -126.4 167.4 224.1 251.4 161.0 228.1 278.1 184.6 242.7 206.9 209.1 16

 17 Gross investment in nonfinancial assets 1657.2 1694.0 1783.0 1918.0 2078.4 2178.6 2098.0 2166.3 2215.1 2235.0 2227.8 17

 18 Residential fixed investment 386.9 376.5 381.3 436.9 513.3 535.0 514.5 527.9 544.6 553.0 556.9 18

 19 Nonresidential fixed investment 326.0 317.4 345.4 366.6 376.7 406.1 392.7 402.1 412.6 417.0 410.2 19

 20 Consumer durables 970.8 1005.0 1057.2 1119.1 1178.9 1229.1 1191.2 1225.3 1245.9 1254.2 1249.5 20

 21 Nonproduced nonfinancial assets -9.7 -8.5 -7.8 -7.7 -7.9 -7.3 -7.6 -7.4 -7.2 -7.1 -7.0 21

 22 Inventories -16.8 3.6 6.8 3.0 17.4 15.6 7.2 18.3 19.2 17.8 18.1 22

 23 Consumption of fixed capital 1586.2 1580.9 1601.5 1637.0 1693.4 1723.7 1703.2 1712.9 1731.1 1747.5 1758.7 23

 24 Residential fixed investment 377.9 372.0 369.9 372.3 393.9 411.6 405.5 409.3 413.9 417.7 421.1 24

 25 Nonresidential fixed investment 287.7 290.7 293.4 304.0 314.9 337.2 333.1 334.1 339.0 342.9 345.0 25

 26 Consumer durables 920.6 918.1 938.2 960.7 984.6 974.8 964.6 969.5 978.3 987.0 992.5 26

 27 Net investment in nonfinancial assets (3) 71.0 113.2 181.5 281.0 384.9 454.9 394.9 453.4 484.0 487.5 469.1 27

 28 Residential fixed investment 9.0 4.5 11.5 64.6 119.4 123.4 109.0 118.7 130.7 135.4 135.8 28

 29 Nonresidential fixed investment 38.2 26.7 52.0 62.7 61.8 68.9 59.6 68.0 73.7 74.2 65.2 29

 30 Consumer durables 50.3 86.9 119.0 158.4 194.3 254.3 226.6 255.7 267.6 267.2 257.0 30

 31 Nonproduced nonfinancial assets -9.7 -8.5 -7.8 -7.7 -7.9 -7.3 -7.6 -7.4 -7.2 -7.1 -7.0 31

 32 Inventories -16.8 3.6 6.8 3.0 17.4 15.6 7.2 18.3 19.2 17.8 18.1 32

 33 Net increase in liabilities 22.2 -149.5 -32.5 471.1 296.6 680.0 310.1 998.0 652.7 759.2 625.1 33

 34 Home mortgages 36.3 -154.9 -88.4 -77.1 0.6 47.8 -47.5 42.8 90.5 105.3 -22.7 34

 35 Other mortgages 44.0 -31.4 -21.9 67.9 74.2 140.9 66.8 113.8 142.7 240.3 156.7 35

 36 Consumer credit -103.6 -25.3 108.6 169.4 175.9 218.4 194.0 257.8 222.8 199.0 186.8 36

 37 Policy loans 0.7 3.4 2.4 1.4 0.9 1.7 -0.2 1.2 3.1 2.5 1.0 37

 38 Security credit 38.1 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 38

 39 Other liabilities 6.7 -16.4 6.1 244.5 9.4 240.9 171.4 363.1 134.2 294.9 364.1 39

 40 Net capital transfers paid (4) -34.4 -28.4 0.4 -10.0 19.7 10.4 21.2 20.6 -19.9 19.8 20.1 40

 41 Personal saving, FOF concept (FOF) 680.2 1013.2 1513.4 1338.5 1182.1 1237.0 1148.6 1205.6 806.7 1787.2 1683.4 41

 42 - Net investment in consumer durables 50.3 86.9 119.0 158.4 194.3 254.3 226.6 255.7 267.6 267.2 257.0 42

 43 - Government insurance and pension fund reserves (5) -1.2 -3.2 -2.4 -2.5 -2.2 -2.0 -2.9 -1.0 -2.7 -1.5 -2.5 43

 44 + Contr. for govt. soc. insur., U.S.-affiliated areas 5.0 4.9 4.4 4.6 5.4 5.6 5.6 5.6 5.6 5.7 5.8 44

 45 = Personal saving, NIPA concept (FOF) (6) 636.2 934.5 1401.2 1187.2 995.5 990.4 930.5 956.4 547.5 1527.2 1434.7 45

 46 Personal saving, NIPA concept (NIPA) 672.0 628.0 711.1 896.2 608.1 632.6 626.1 655.6 628.1 620.4 726.4 46

 47 Difference -35.8 306.5 690.1 291.0 387.4 357.8 304.4 300.8 -80.7 906.8 708.3 47

 Memo:

 48 Disposable personal income 10942.5 11237.9 11801.4 12384.0 12505.1 12990.0 12772.9 12945.2 13061.2 13180.7 13285.4 48

 Personal saving as a percentage of disposable personal income:

 49 FOF concept (FOF data) (line 41) 6.2 9.0 12.8 10.8 9.5 9.5 9.0 9.3 6.2 13.6 12.7 49

 50 NIPA concept (FOF data) (line 44) 5.8 8.3 11.9 9.6 8.0 7.6 7.3 7.4 4.2 11.6 10.8 50

 51 NIPA concept (NIPA data) (line 45) 6.1 5.6 6.0 7.2 4.9 4.9 4.9 5.1 4.8 4.7 5.5 51

 52 Difference (line 46) -0.3 2.7 5.8 2.3 3.1 2.8 2.4 2.3 -0.6 6.9 5.3 52

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 13), life insurance reserves (line 14), and pension entitlements (line 15).

(3) Line 17 less line 23.

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

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

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

 including contributions for government social insurance to U.S.-affiliated areas, plus net investment in nonfinancial assets net of consumer durables (line 27 less line 42) less net increase in liabilities (line 33)

 plus net capital transfers paid (line 40). Personal savings, NIPA concept (NIPA) (line 46) is disposable personal income (line 48) less personal outlays (table F.101, line 4).
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L.10 Assets and Liabilities of the Personal Sector (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 45950.6 49738.2 50410.7 54265.1 60160.5 62937.9 60764.5 62017.5 61657.5 62937.9 63857.6 1

 2 Foreign deposits 62.7 67.3 57.4 49.7 52.5 47.0 51.5 50.3 53.2 47.0 44.9 2

 3 Checkable deposits and currency 930.5 955.4 1281.5 1504.3 1628.3 1776.1 1678.3 1705.7 1695.0 1776.1 1812.2 3

 4 Time and savings deposits 6679.3 6807.1 7182.3 7559.4 7781.5 8277.6 7935.0 7963.8 8090.0 8277.6 8486.4 4

 5 Money market fund shares 1386.6 1206.1 1187.5 1190.9 1218.7 1189.4 1182.6 1154.1 1173.1 1189.4 1119.6 5

 6 Securities 16016.1 18065.4 17372.3 19400.9 23281.0 24287.6 23441.0 24299.3 23663.3 24287.6 24752.9 6

 7 Open market paper 22.7 21.1 19.4 18.8 15.0 14.9 15.9 16.1 15.9 14.9 15.2 7

 8 Treasury securities 853.3 1122.6 717.0 943.1 956.6 696.7 900.4 721.1 704.9 696.7 640.2 8

 9 Agency- and GSE-backed securities 356.4 334.2 299.3 176.8 141.1 41.3 55.6 60.8 43.8 41.3 42.6 9

 10 Municipal securities 1833.0 1877.1 1811.6 1667.3 1612.2 1546.6 1608.7 1607.1 1559.1 1546.6 1561.1 10

 11 Corporate and foreign bonds 1548.5 1361.1 1355.3 1235.4 976.9 874.9 932.9 952.4 953.1 874.9 876.1 11

 12 Corporate equities (2) 7255.8 8696.2 8498.4 9676.3 12501.8 13360.7 12580.0 13307.1 12777.4 13360.7 13640.8 12

 13 Mutual fund shares 4100.4 4605.0 4622.5 5630.4 7023.0 7695.3 7292.8 7579.3 7553.1 7695.3 7918.8 13

 14 Life insurance reserves 1109.5 1137.5 1199.3 1186.4 1233.0 1282.8 1242.6 1256.7 1263.3 1282.8 1304.8 14

 15 Pension entitlements 15458.1 17035.7 17447.7 18460.8 19893.7 20783.7 20093.4 20402.1 20476.3 20783.7 20991.9 15

 16 Life insurance companies 2146.8 2341.3 2383.2 2575.3 2831.3 2925.4 2855.4 2891.7 2879.8 2925.4 2954.6 16

 17 Private pension funds 6001.8 6650.1 6753.3 7278.0 8148.3 8578.4 8237.2 8409.2 8417.8 8578.4 8666.0 17

 18 Governments 7309.5 8044.3 8311.2 8607.5 8914.2 9279.9 9000.8 9101.3 9178.7 9279.9 9371.2 18

 19 Miscellaneous and other assets 4218.9 4385.5 4608.3 4847.2 5012.4 5240.2 5082.0 5128.6 5188.1 5240.2 5292.9 19

 20 Total liabilities 19793.8 19454.4 19274.0 19535.9 19740.4 20373.2 19746.2 19986.0 20162.7 20373.2 20450.8 20

 21 Home mortgages 10918.8 10433.2 10190.6 9966.3 9874.7 9875.3 9842.3 9839.7 9857.5 9875.3 9843.3 21

 22 Other mortgages 2574.3 2542.8 2521.0 2588.9 2663.1 2804.0 2679.8 2708.3 2743.9 2804.0 2843.2 22

 23 Consumer credit 2552.3 2646.9 2755.4 2922.9 3098.8 3317.2 3105.0 3171.9 3249.0 3317.2 3321.6 23

 24 Policy loans 121.1 124.5 126.9 128.3 129.2 130.8 129.1 129.4 130.2 130.8 131.1 24

 25 Security credit 203.0 278.2 238.9 303.7 339.2 369.5 320.6 375.4 390.3 369.5 354.3 25

 26 Other liabilities 3424.4 3428.9 3441.2 3625.8 3635.4 3876.3 3669.4 3761.2 3791.7 3876.3 3957.3 26

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

(2) Directly held and those in closed-end and exchange-traded funds. Other equities are included in mutual fund shares (line 13), life insurance reserves (line 14), and pension entitlements (line 15).
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F.100 Domestic Nonfinancial Sectors (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid 2696.9 2879.8 3167.2 3636.4 3920.6 4086.1 3907.1 4066.6 4182.6 4188.2 4252.0 1

 2 Gross investment 2786.3 2948.1 2993.8 3222.8 4119.9 4189.0 3853.2 4462.2 3395.4 5045.0 4702.1 2

 3 Capital expenditures 3328.4 3590.9 3761.1 4022.2 4207.0 4448.5 4277.5 4427.0 4520.4 4569.0 4547.1 3

 4 Consumer durables 970.8 1005.0 1057.2 1119.1 1178.9 1229.1 1191.2 1225.3 1245.9 1254.2 1249.5 4

 5 Fixed residential investment 399.3 387.0 388.0 443.3 511.8 558.5 549.9 539.3 567.8 576.9 579.7 5

 6 Fixed nonresidential investment 2105.9 2137.4 2274.0 2394.9 2442.2 2578.9 2496.2 2562.3 2612.4 2644.7 2612.3 6

 7 Inventory change -147.6 61.5 41.8 64.9 74.1 82.0 40.1 100.3 94.5 93.3 105.8 7

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

 9 Net lending (+) or net borrowing (-) -542.2 -642.8 -767.3 -799.4 -87.1 -259.5 -424.3 35.3 -1125.0 476.0 155.0 9

 10 Net acqisition of financial assets 1115.1 1942.0 1774.7 2378.2 2448.0 2566.3 1790.0 3123.1 1897.6 3454.3 2734.3 10

 11 U.S. official reserve assets 51.9 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -9.9 11

 12 Foreign deposits -0.3 13.6 -15.7 -7.1 45.5 -11.4 -46.4 37.2 20.6 -57.1 -1.8 12

 13 Checkable deposits and currency 31.9 270.3 114.8 188.2 286.0 289.6 168.2 377.3 124.6 488.3 -233.2 13

 14 Time and savings deposits 288.4 219.9 404.8 477.3 280.5 454.4 614.5 227.5 109.5 866.2 793.1 14

 15 Money market fund shares -330.5 -323.5 -52.0 65.5 70.2 -10.9 -1.8 -2.6 -0.9 -38.5 -47.5 15

 16 Security repurchase agreements -3.3 3.6 -4.4 1.6 1.7 15.0 20.8 24.2 2.8 12.2 24.4 16

 17 Credit market instruments 352.6 71.3 -265.6 -121.7 -512.9 -300.5 -769.1 -172.7 -168.8 -91.3 -377.3 17

 18 Open market paper -23.4 24.0 -14.1 -16.3 -34.0 -11.7 -5.6 -20.9 -5.5 -14.7 7.5 18

 19 Treasury securities 523.1 333.5 -254.5 261.2 -203.3 -107.8 -316.1 -326.0 55.4 155.4 -99.6 19

 20 Agency- and GSE-backed securities -514.5 -30.1 -145.4 -161.7 -104.3 -102.2 -408.3 36.1 -99.6 63.2 -59.7 20

 21 Municipal securities 109.2 42.4 -66.9 -143.5 -56.2 -73.4 -69.8 -28.2 -172.8 -22.6 23.2 21

 22 Corporate and foreign bonds 101.9 -413.5 89.2 -175.4 -227.4 -121.6 -121.9 52.2 -44.6 -372.3 -412.2 22

 23 Other loans and advances 60.9 3.0 2.0 -0.0 12.2 0.8 10.1 -14.1 2.8 4.4 0.0 23

 24 Mortgages 15.3 0.6 -2.4 -10.7 -2.5 11.4 11.9 19.7 -0.2 14.0 39.3 24

 25 Consumer credit 80.1 111.3 126.5 124.8 102.6 104.0 130.5 108.4 95.8 81.4 124.2 25

 26 Corporate equities -19.4 -159.5 -257.4 -206.3 -35.3 32.3 -413.3 324.1 -168.7 387.3 383.3 26

 27 Mutual fund shares 412.6 262.1 316.1 580.3 612.1 538.1 638.7 517.0 508.5 488.2 483.2 27

 28 Trade receivables -83.2 155.1 155.1 64.8 306.4 145.4 71.4 205.5 136.4 168.3 163.7 28

 29 Security credit -35.7 23.5 0.9 42.0 58.5 53.5 202.8 1.6 103.6 -94.0 6.3 29

 30 Life insurance reserves 24.6 6.2 73.5 -26.6 19.2 45.3 31.3 41.4 46.4 62.2 77.7 30

 31 Pension entitlements 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 31

 32 Taxes payable 30.1 28.1 28.1 36.5 31.4 59.4 54.0 116.5 28.0 39.3 175.9 32

 33 Equity in noncorpate business -107.6 167.2 161.0 133.5 75.6 50.6 73.9 31.5 63.0 33.9 16.9 33

 34 U.S. direct investment abroad 269.7 303.3 403.9 315.9 317.4 330.3 160.8 324.9 340.0 495.4 388.9 34

 35 Miscellaneous assets -164.9 302.7 197.2 332.5 396.2 330.3 471.4 513.5 217.7 118.6 372.1 35

 36 Net increase in liabilities 1657.3 2584.7 2542.0 3177.6 2535.1 2825.8 2214.3 3087.9 3022.6 2978.2 2579.3 36

 37 U.S. official reserve assets 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

 38 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Treasury currency -0.4 -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 39

 40 Credit market instruments 1102.4 1405.4 1281.8 1823.0 1470.3 1723.0 1680.0 1399.4 1798.6 2013.9 1172.6 40

 41 Open market paper -73.1 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -70.6 41

 42 Treasury securities 1443.7 1579.6 1066.8 1140.6 759.5 667.2 743.0 314.3 913.8 697.9 -52.8 42

 43 Agency- and GSE-backed securities 0.1 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 43

 44 Municipal securities 155.3 99.7 -52.8 -4.9 -43.2 -18.8 -38.0 15.7 -88.5 35.5 170.0 44

 45 Corporate and foreign bonds 215.6 179.3 162.0 323.5 279.8 264.9 286.7 235.4 198.4 339.1 449.7 45

 46 Depository institution loans n.e.c. -307.7 -53.7 70.7 276.9 126.1 277.2 255.1 397.3 180.2 276.3 352.1 46

 47 Other loans and advances -164.8 -82.4 63.6 -22.7 62.4 75.9 147.8 -51.9 84.5 123.1 7.3 47

 48 Mortgages -63.3 -316.9 -171.6 -73.4 96.0 200.4 18.4 172.9 266.1 344.1 131.1 48

 49 Consumer credit -103.6 -25.3 108.6 169.4 175.9 218.4 194.0 257.8 222.8 199.0 186.8 49

 50 Corporate equities -51.2 -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -541.7 50

 51 Trade payables -41.6 200.9 128.4 138.4 182.1 170.8 108.0 237.2 154.3 183.6 155.7 51

 52 Security credit 38.1 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 52

 53 Life insurance reserves 1.1 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 53

 54 Taxes payable -9.5 6.4 9.4 9.9 -5.5 6.8 -15.8 14.8 23.5 4.9 70.1 54

 55 Equity in noncorpate business -108.2 166.4 163.8 126.8 79.5 48.3 70.9 33.2 56.3 32.8 16.2 55

 56 Foreign direct investment in U.S. 104.8 157.4 192.7 170.7 207.6 80.7 -445.4 260.5 329.6 178.2 313.7 56

 57 Miscellaneous liabilities 571.0 823.2 1258.5 1188.5 918.7 1152.8 1392.9 1196.1 1035.0 987.3 1455.6 57

 58 Discrepancy -89.4 -68.3 173.4 413.6 -199.3 -102.8 53.9 -395.7 787.2 -856.8 -450.2 58

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Personal income 12087.5 12429.3 13202.0 13887.7 14166.9 14733.9 14484.7 14660.5 14811.2 14979.3 15129.2 1

 2 - Personal current taxes 1144.9 1191.5 1400.6 1503.7 1661.8 1743.9 1711.8 1715.3 1750.1 1798.6 1843.8 2

 3 = Disposable personal income 10942.5 11237.9 11801.4 12384.0 12505.1 12990.0 12772.9 12945.2 13061.2 13180.7 13285.4 3

 4 - Personal outlays 10270.5 10609.8 11090.2 11487.8 11897.1 12357.4 12146.9 12289.6 12433.0 12560.3 12559.0 4

 5 = Personal saving, NIPA (2) 672.0 628.0 711.1 896.2 608.1 632.6 626.1 655.6 628.1 620.4 726.4 5

 6 + Government insurance and pension reserves (3) -1.2 -3.2 -2.4 -2.5 -2.2 -2.0 -2.9 -1.0 -2.7 -1.5 -2.5 6

 7 - Contr. for govt. soc. insur., U.S.-affiliated areas 5.0 4.9 4.4 4.6 5.4 5.6 5.6 5.6 5.6 5.7 5.8 7

 8 + Net investment in consumer durables 50.3 86.9 119.0 158.4 194.3 254.3 226.6 255.7 267.6 267.2 257.0 8

 9 + Consumption of fixed capital 1319.5 1314.0 1336.5 1365.2 1411.7 1429.0 1412.3 1419.8 1435.0 1449.0 1457.9 9

 10 - Net capital transfers paid (4) -28.4 -20.6 2.0 -5.0 19.7 10.4 21.2 20.6 -19.9 19.8 20.1 10

 11 = Gross saving less net capital transfers paid 2064.0 2041.3 2157.8 2417.8 2186.8 2297.8 2235.3 2304.1 2342.2 2309.6 2412.9 11

 12 Gross investment 2028.1 2347.8 2847.9 2708.8 2574.2 2655.6 2539.6 2604.8 2261.5 3216.3 3121.2 12

 13 Capital expenditures 1429.3 1448.9 1501.3 1614.3 1740.4 1811.3 1751.3 1800.6 1838.2 1855.3 1853.7 13

 14 Consumer durable goods 970.8 1005.0 1057.2 1119.1 1178.9 1229.1 1191.2 1225.3 1245.9 1254.2 1249.5 14

 15 Residential 321.0 318.3 321.1 368.0 433.4 452.4 434.8 446.2 460.5 468.1 471.3 15

 16 Nonprofit nonresidential 147.1 134.1 130.8 134.9 136.0 137.1 132.9 136.4 138.9 140.1 139.9 16

 17 Nonproduced nonfinancial assets -9.7 -8.5 -7.8 -7.7 -7.9 -7.3 -7.6 -7.4 -7.2 -7.1 -7.0 17

 18 Net lending (+) or net borrowing (-) 598.8 898.9 1346.6 1094.5 833.7 844.3 788.4 804.3 423.3 1361.1 1267.5 18

 19 Net acquisition of financial assets 674.8 793.3 1276.5 1363.4 1076.2 1265.4 1020.8 1516.6 871.7 1652.2 1504.7 19

 20 Foreign deposits -7.2 4.5 -9.9 -7.7 2.8 -5.4 -3.9 -4.7 11.5 -24.7 -8.4 20

 21 Checkable deposits and currency 101.0 38.9 305.1 176.9 121.5 113.9 311.5 222.5 -87.1 8.6 231.1 21

 22 Time and savings deposits 105.9 162.8 369.3 412.0 210.6 406.0 498.2 230.0 188.7 707.2 650.2 22

 23 Money market fund shares -267.5 -183.6 -19.4 0.3 25.5 -33.6 112.0 17.8 -59.4 -204.6 -19.6 23

 24 Credit market instruments 70.5 -95.1 -207.9 -244.9 -568.8 -477.1 -932.3 -420.3 -267.5 -288.3 -797.4 24

 25 Open market paper 16.7 -1.5 -1.8 -0.6 -3.8 -0.1 3.5 0.9 -0.6 -4.2 1.4 25

 26 Treasury securities 532.6 317.2 -215.3 215.4 -194.3 -174.7 -351.2 -435.7 25.6 62.6 -309.2 26

 27 Agency- and GSE-backed securities -671.6 -10.2 -11.0 -111.8 -75.4 -89.6 -386.4 31.1 -73.4 70.2 -44.2 27

 28 Municipal securities 107.1 43.6 -65.7 -144.6 -55.2 -66.0 -56.5 -21.4 -161.7 -24.2 13.0 28

 29 Corporate and foreign bonds 97.6 -422.2 91.7 -178.3 -227.8 -131.9 -132.9 35.2 -45.4 -384.7 -443.7 29

 30 Other loans and advances (5) -5.3 -0.6 -2.8 -2.5 5.0 -1.6 3.0 -17.7 3.2 5.0 0.5 30

 31 Mortgages -0.9 -10.9 0.9 -13.8 -10.9 -7.4 -6.9 -8.2 -8.0 -6.6 -8.6 31

 32 Consumer credit (student loans) -5.8 -10.4 -3.9 -8.8 -6.3 -5.7 -4.9 -4.4 -7.3 -6.4 -6.7 32

 33 Corporate equities (6) -17.8 -183.9 -294.2 -194.7 -30.7 28.5 -418.6 316.1 -164.9 381.4 367.0 33

 34 Mutual fund shares 375.6 247.9 329.2 581.1 611.0 520.0 620.4 497.0 492.9 469.5 459.2 34

 35 Security credit -35.7 23.5 0.9 42.0 58.5 53.5 202.8 1.6 103.6 -94.0 6.3 35

 36 Life insurance reserves 24.6 6.2 73.5 -26.6 19.2 45.3 31.3 41.4 46.4 62.2 77.7 36

 37 Pension entitlements (7) 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 37

 38 Equity in noncorporate business -107.6 167.2 161.0 133.5 75.6 50.6 73.9 31.5 63.0 33.9 16.9 38

 39 Miscellaneous assets 34.9 8.3 70.7 -6.1 52.2 15.2 8.8 30.5 5.7 15.7 3.1 39

 40 Net increase in liabilities 75.9 -105.6 -70.1 269.0 242.5 421.1 232.4 712.3 448.3 291.2 237.3 40

 41 Credit market instruments 1.3 -154.0 -31.5 199.5 203.0 386.4 298.6 484.2 389.7 373.1 292.1 41

 42 Home mortgages (8) 66.3 -182.1 -73.1 -65.2 3.4 41.8 -48.5 35.5 81.4 98.9 -28.3 42

 43 Consumer credit -103.6 -25.3 108.6 169.4 175.9 218.4 194.0 257.8 222.8 199.0 186.8 43

 44 Municipal securities 5.9 -2.2 -7.8 -14.5 -13.1 -4.8 -1.0 -2.3 -9.8 -6.0 -0.4 44

 45 Depository institution loans n.e.c. (9) 28.3 50.1 -54.9 110.8 30.0 120.2 152.8 179.2 85.8 63.1 124.1 45

 46 Other loans and advances 0.5 2.4 1.9 1.2 2.0 2.9 -1.1 6.4 1.7 4.6 1.9 46

 47 Commercial mortgages 3.8 3.0 -6.3 -2.3 4.8 7.8 2.5 7.6 7.7 13.5 7.9 47

 48 Security credit 38.1 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 48

 49 Trade payables 41.4 -29.4 1.2 4.0 1.0 3.1 4.0 3.6 1.9 3.0 1.4 49

 50 Deferred and unpaid life insurance premiums -4.9 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 50

 51 Discrepancy 35.8 -306.5 -690.1 -291.0 -387.4 -357.8 -304.4 -300.8 80.7 -906.8 -708.3 51

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

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

(4) Table F.9, line 63.

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

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

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

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

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Income before taxes 1842.4 2206.6 2311.0 2682.4 2820.4 3093.8 2963.1 3119.8 3143.1 3149.3 3208.4 1

 2 Gross saving less net capital transfers paid 1706.4 1951.3 1995.1 2037.6 2086.2 2058.2 1941.3 2055.2 2128.3 2108.0 2001.5 2

 3 Gross investment 1842.0 1655.2 1197.6 1275.7 1876.9 1733.0 1673.6 1833.6 1557.1 1867.8 1568.5 3

 4 Capital expenditures 1248.7 1480.6 1613.5 1781.7 1863.7 2042.1 1944.4 2028.9 2087.6 2107.6 2101.3 4

 5 Fixed investment 1390.0 1420.1 1572.3 1715.9 1788.3 1958.3 1903.9 1927.9 1987.7 2013.7 1995.6 5

 6 Residential 70.5 58.8 58.4 69.0 71.8 99.2 108.6 86.2 100.4 101.7 101.7 6

 7 Nonresidential 1319.5 1361.4 1513.9 1646.9 1716.5 1859.1 1795.4 1841.7 1887.3 1912.0 1893.9 7

 8 Change in inventories -147.6 61.5 41.8 64.9 74.1 82.0 40.1 100.3 94.5 93.3 105.8 8

 9 Nonproduced nonfinancial assets 6.3 -1.1 -0.5 0.9 1.3 1.8 0.3 0.8 5.4 0.5 -0.1 9

 10 Net lending (+) or net borrowing (-) 593.3 174.7 -415.9 -506.0 13.2 -309.1 -270.8 -195.4 -530.5 -239.8 -532.8 10

 11 Net acquisition of financial assets 182.7 784.7 679.7 808.0 1147.9 911.2 481.4 1266.9 747.5 1148.8 979.4 11

 12 Foreign deposits 6.8 9.1 -5.8 0.6 42.7 -6.0 -42.5 41.9 9.1 -32.4 6.6 12

 13 Checkable deposits and currency 85.6 76.8 50.7 13.8 87.6 99.0 -115.6 257.7 121.0 132.8 8.5 13

 14 Time and savings deposits 172.1 62.8 19.2 43.4 51.8 37.8 82.6 21.6 -105.6 152.4 105.6 14

 15 Money market fund shares -73.1 -154.6 -34.6 60.1 42.0 10.3 -126.7 -39.3 55.3 151.6 -61.1 15

 16 Security repurchase agreements 0.7 4.3 0.4 -2.9 -0.9 4.7 10.1 8.7 -0.2 0.1 -2.6 16

 17 Credit market instruments 3.5 9.2 -11.8 -11.0 -21.7 -11.8 -3.8 -6.2 -14.3 -22.7 39.8 17

 18 Commercial paper -1.3 12.0 -0.1 -8.4 -21.3 -6.6 -4.9 -19.7 4.2 -5.9 3.7 18

 19 Treasury securities 6.8 7.0 -4.2 0.5 4.9 -1.7 -6.8 2.1 -0.2 -2.1 8.9 19

 20 Agency- and GSE-backed securities 4.2 1.7 -1.7 -1.2 -2.9 2.5 5.4 7.7 -0.8 -2.3 1.7 20

 21 Municipal securities 1.1 -2.6 -1.4 0.8 -1.0 -8.2 -14.2 -8.1 -11.2 0.6 7.7 21

 22 Mortgages -5.3 2.6 -6.4 -4.3 2.8 3.6 2.5 3.8 3.2 4.9 4.2 22

 23 Consumer credit -2.0 -11.4 2.0 1.5 -4.2 -1.3 14.2 8.2 -9.6 -18.0 13.6 23

 24 Mutual fund shares 35.3 11.1 -12.8 -1.7 1.0 15.3 15.3 15.3 15.3 15.3 15.3 24

 25 Trade receivables -57.5 142.8 144.7 56.6 294.6 140.4 61.3 194.8 131.1 174.4 146.1 25

 26 U.S. direct investment abroad 269.7 303.3 403.9 315.9 317.4 330.3 160.8 324.9 340.0 495.4 388.9 26

 27 Miscellaneous assets -260.4 319.8 125.7 333.3 333.3 291.2 440.0 447.3 195.8 81.7 332.3 27

 28 Net increase in liabilities -410.6 610.0 1095.7 1313.9 1134.7 1220.3 752.2 1462.3 1278.1 1388.5 1512.3 28

 29 Credit market instruments -455.7 -90.4 298.1 488.6 547.1 683.1 679.1 565.1 579.6 908.7 794.1 29

 30 Commercial paper -73.1 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -70.6 30

 31 Municipal securities 37.2 33.2 8.5 15.2 9.3 -0.1 2.0 -17.2 5.2 9.7 30.6 31

 32 Corporate bonds 215.6 179.3 162.0 323.5 279.8 264.9 286.7 235.4 198.4 339.1 449.7 32

 33 Depository institution loans n.e.c. -336.0 -103.8 125.6 166.1 96.1 157.0 102.3 218.1 94.4 213.2 228.0 33

 34 Other loans and advances -166.1 -85.7 60.8 -24.3 59.9 72.6 148.7 -58.7 82.5 118.1 5.0 34

 35 Mortgages -133.3 -137.9 -92.3 -5.9 87.9 150.7 64.5 129.8 176.9 231.8 151.5 35

 36 Corporate equities -51.2 -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -541.7 36

 37 Trade payables -65.8 186.6 80.0 82.2 121.9 109.4 59.5 159.9 88.0 130.3 119.0 37

 38 Taxes payable -9.5 6.4 9.4 9.9 -5.5 6.8 -15.8 14.8 23.5 4.9 70.1 38

 39 Foreign direct investment in U.S. 104.8 157.4 192.7 170.7 207.6 80.7 -445.4 260.5 329.6 178.2 313.7 39

 40 Miscellaneous liabilities 175.0 434.3 806.2 780.6 537.1 679.4 905.7 701.9 635.3 474.6 741.0 40

 41 Proprietors’ net investment -108.2 166.4 163.8 126.8 79.5 48.3 70.9 33.2 56.3 32.8 16.2 41

 42 Discrepancy -135.6 296.1 797.5 761.9 209.3 325.2 267.7 221.6 571.2 240.2 433.0 42

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

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Profits before tax (book) 752.5 1039.2 1008.9 1245.4 1298.8 1514.9 1418.8 1541.6 1556.0 1543.2 1612.7 1

 2 - Taxes on corporate income 177.8 220.6 228.8 271.4 329.3 389.1 366.2 394.8 400.0 395.4 418.1 2

 3 - Net dividends 351.4 375.5 441.0 520.6 536.9 558.6 575.0 554.3 535.0 570.1 592.5 3

 4 + Capital consumption allowance (1) 1049.3 1077.3 1236.1 1115.7 1140.6 1013.4 995.7 1005.3 1019.1 1033.4 844.7 4

 5 = U.S. internal funds, book 1272.6 1520.4 1575.2 1569.2 1573.2 1580.6 1473.4 1597.9 1640.1 1611.1 1446.9 5

 6 + Foreign earnings retained abroad 192.7 218.2 215.1 184.6 222.4 176.8 194.3 170.3 183.7 158.8 190.0 6

 7 + Inventory valuation adjustment (IVA) 6.7 -41.0 -68.3 -9.5 3.3 -0.5 -24.6 -12.7 4.0 31.5 60.9 7

 8 - Net capital transfers paid (2) 38.3 20.9 -6.4 -16.7 -5.7 -6.6 -7.4 -6.6 -4.3 -8.1 -3.0 8

 9 = Total internal funds + IVA 1433.7 1676.7 1728.5 1761.0 1804.6 1763.6 1650.4 1762.2 1832.2 1809.5 1700.8 9

 10 Gross investment 1569.3 1380.6 931.0 999.1 1595.2 1438.3 1382.7 1540.5 1260.9 1569.3 1267.8 10

 11 Capital expenditures 1020.8 1235.4 1331.9 1478.0 1525.8 1674.8 1597.6 1663.2 1710.7 1727.9 1727.3 11

 12 Fixed investment (3) 1145.3 1178.6 1297.4 1415.2 1467.8 1606.6 1564.3 1580.4 1630.0 1651.8 1639.7 12

 13 Inventory change + IVA -130.8 57.9 34.9 61.8 56.7 66.4 32.9 81.9 75.3 75.5 87.7 13

 14 Nonproduced nonfinancial assets 6.3 -1.1 -0.5 0.9 1.3 1.8 0.3 0.8 5.4 0.5 -0.1 14

 15 Net lending (+) or net borrowing (-) 548.5 145.2 -400.9 -478.9 69.4 -236.5 -214.9 -122.6 -449.7 -158.6 -459.5 15

 16 Net acquisition of financial assets 299.8 632.7 493.4 506.2 1070.5 676.6 388.8 1020.8 567.6 729.1 648.8 16

 17 Foreign deposits 6.8 9.1 -5.8 0.6 42.7 -6.0 -42.5 41.9 9.1 -32.4 6.6 17

 18 Checkable deposits and currency 70.8 79.6 29.7 -45.7 85.1 65.1 -130.6 221.1 93.7 76.1 -29.3 18

 19 Time and savings deposits 176.9 59.9 13.2 33.3 41.0 10.6 75.1 0.3 -121.0 88.1 29.5 19

 20 Money market fund shares -71.4 -157.7 -35.4 57.1 39.7 6.0 -128.3 -43.9 52.0 144.2 -66.8 20

 21 Security repurchase agreements 0.7 4.3 0.4 -2.9 -0.9 4.7 10.1 8.7 -0.2 0.1 -2.6 21

 22 Credit market instruments 10.2 2.6 -7.1 -12.8 -24.4 -16.7 -5.7 -11.5 -18.2 -31.3 33.3 22

 23 Commercial paper -1.3 12.0 -0.1 -8.4 -21.3 -6.6 -4.9 -19.7 4.2 -5.9 3.7 23

 24 Treasury securities 12.5 5.1 -5.1 -3.5 3.3 -4.5 -7.8 -1.0 -2.3 -7.0 5.2 24

 25 Agency- and GSE-backed securities 4.2 1.7 -1.7 -1.2 -2.9 2.5 5.4 7.7 -0.8 -2.3 1.7 25

 26 Municipal securities 0.9 -3.2 -1.6 0.6 -1.1 -8.6 -14.3 -8.5 -11.5 0.0 7.3 26

 27 Mortgages -4.1 -1.6 -0.6 -1.9 1.8 1.8 1.8 1.8 1.8 1.8 1.8 27

 28 Consumer credit -2.0 -11.4 2.0 1.5 -4.2 -1.3 14.2 8.2 -9.6 -18.0 13.6 28

 29 Mutual fund shares 35.3 11.1 -12.8 -1.7 1.0 15.3 15.3 15.3 15.3 15.3 15.3 29

 30 Trade receivables -31.2 105.7 83.7 52.0 277.2 108.8 49.2 160.5 106.4 119.2 104.0 30

 31 U.S. direct investment abroad (4) 269.7 303.3 403.9 315.9 317.4 330.3 160.8 324.9 340.0 495.4 388.9 31

 32 Miscellaneous assets -167.9 214.8 23.6 110.4 291.6 158.4 385.3 303.4 90.4 -145.7 169.8 32

 33 Insurance receivables -4.0 11.7 10.1 7.6 -6.6 8.2 4.2 15.5 13.3 -0.1 -4.0 33

 34 Equity in GSEs 0.0 0.1 -0.0 0.0 0.0 0.1 0.6 -0.2 -0.0 0.1 0.3 34

 35 Investment in finance co. subs. -9.3 26.7 8.4 2.6 14.7 14.1 66.9 -4.8 -6.5 0.7 -7.3 35

 36 Other -154.7 176.3 5.1 100.2 283.5 135.9 313.6 292.9 83.6 -146.4 180.8 36

 37 Net increase in liabilities -248.7 487.6 894.3 985.1 1001.1 913.0 603.7 1143.4 1017.3 887.7 1108.3 37

 38 Net funds raised in markets -409.8 -321.6 -159.7 17.6 75.2 75.9 103.9 52.3 -34.6 181.9 0.3 38

 39 Net new equity issues -51.2 -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -541.7 39

 40 Credit market instruments -358.7 -70.9 294.9 362.6 428.1 463.4 605.7 325.3 399.7 522.9 542.0 40

 41 Commercial paper -73.1 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -70.6 41

 42 Municipal securities (5) 37.2 33.2 8.5 15.2 9.3 -0.1 2.0 -17.2 5.2 9.7 30.6 42

 43 Corporate bonds (4) 215.6 179.3 162.0 323.5 279.8 264.9 286.7 235.4 198.4 339.1 449.7 43

 44 Depository institution loans n.e.c. -234.0 -87.0 92.1 107.8 49.9 85.9 84.1 109.5 71.7 78.3 108.9 44

 45 Other loans and advances (6) -160.8 -90.4 60.2 -33.7 53.7 63.1 158.8 -76.4 69.4 100.5 26.3 45

 46 Mortgages -143.5 -130.5 -61.3 -64.3 21.2 11.7 -0.9 16.4 32.8 -1.6 -2.9 46

 47 Trade payables -82.6 156.3 25.2 66.2 105.4 84.2 48.9 130.7 70.2 86.9 62.2 47

 48 Taxes payable -3.3 7.2 8.8 2.3 -9.1 0.4 -18.3 7.8 18.4 -6.4 51.5 48

 49 Foreign direct investment in U.S. 104.6 157.0 192.7 170.1 207.1 79.8 -446.4 259.6 328.8 177.1 312.8 49

 50 Miscellaneous liabilities 142.4 488.7 827.3 728.9 622.5 672.8 915.6 693.0 634.5 448.2 681.6 50

 51 Pension fund contributions payable -8.6 15.4 3.0 -12.3 -0.6 0.9 -0.8 1.9 3.6 -1.2 6.6 51

 52 Claims of pension fund on sponsor 82.8 -20.7 -16.8 8.4 12.1 23.1 8.2 -47.1 31.9 99.3 33.1 52

 53 Other 68.2 493.9 841.1 732.8 611.0 648.9 908.2 738.2 599.0 350.1 641.9 53

 54 Discrepancy -135.6 296.1 797.5 761.9 209.3 325.2 267.7 221.6 571.2 240.2 433.0 54

 Memo:

 55 Financing gap (7) -258.5 -244.0 -175.1 -81.7 -50.7 94.6 148.8 77.9 66.6 85.3 219.5 55

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

(2) Table F.9, line 58.

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

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

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

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

(7) Capital expenditures (line 11) less the sum of U.S. internal funds (line 5) and inventory valuation adjustment (line 7).
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22 Z.1, June 11, 2015

F.104 Nonfinancial Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving = consumption of fixed capital 266.7 266.9 265.0 271.8 281.7 294.7 290.9 293.0 296.2 298.5 300.7 1

 2 Gross saving less net capital transfers paid (1) 272.7 274.7 266.6 276.7 281.7 294.7 290.9 293.0 296.2 298.5 300.7 2

 3 Gross investment 272.7 274.7 266.6 276.7 281.7 294.7 290.9 293.0 296.2 298.5 300.7 3

 4 Capital expenditures 227.9 245.1 281.7 303.7 337.9 367.3 346.8 365.8 376.9 379.7 374.0 4

 5 Fixed investment (2) 244.7 241.5 274.8 300.7 320.6 351.7 339.6 347.4 357.7 361.9 356.0 5

 6 Change in inventories -16.8 3.6 6.8 3.0 17.4 15.6 7.2 18.3 19.2 17.8 18.1 6

 7 Net lending (+) or net borrowing (-) 44.8 29.5 -15.1 -27.0 -56.2 -72.6 -55.9 -72.7 -80.8 -81.2 -73.3 7

 8 Net acquisition of financial assets -117.1 152.0 186.3 301.8 77.4 234.6 92.6 246.1 180.0 419.7 330.7 8

 9 Checkable deposits and currency 14.9 -2.7 21.0 59.5 2.5 33.9 15.0 36.6 27.3 56.8 37.7 9

 10 Time and savings deposits -4.8 2.9 6.0 10.1 10.8 27.1 7.5 21.4 15.4 64.3 76.1 10

 11 Money market mutual funds -1.7 3.1 0.8 3.0 2.3 4.3 1.6 4.6 3.3 7.4 5.7 11

 12 Credit market instruments -6.7 6.6 -4.7 1.8 2.7 4.9 1.9 5.3 3.8 8.6 6.5 12

 13 Treasury securities -5.7 1.9 0.8 4.0 1.5 2.8 1.1 3.0 2.2 4.9 3.7 13

 14 Municipal securities 0.2 0.5 0.3 0.2 0.2 0.3 0.1 0.3 0.3 0.6 0.4 14

 15 Mortgages -1.2 4.2 -5.8 -2.4 1.0 1.8 0.7 1.9 1.4 3.1 2.4 15

 16 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Trade receivables -26.3 37.0 61.0 4.6 17.4 31.6 12.0 34.3 24.7 55.2 42.1 17

 18 Miscellaneous assets -92.5 105.0 102.1 222.9 41.7 132.8 54.6 143.9 105.4 227.4 162.5 18

 19 Insurance receivables -9.8 29.9 -11.6 15.9 -27.4 7.5 5.2 10.1 9.2 5.4 -7.1 19

 20 Equity investment in GSEs (3) -0.0 0.4 0.3 0.2 0.6 0.8 1.1 0.3 0.7 0.8 0.4 20

 21 Other -82.7 74.7 113.5 206.9 68.5 124.6 48.3 133.4 95.6 221.1 169.3 21

 22 Net increase in liabilities -161.8 122.4 201.4 328.9 133.6 307.2 148.5 318.8 260.8 500.8 404.0 22

 23 Credit market instruments -97.1 -19.4 3.2 126.0 119.0 219.7 73.4 239.7 179.9 385.9 252.2 23

 24 Depository institution loans n.e.c. -102.0 -16.8 33.5 58.3 46.2 71.1 18.2 108.6 22.7 134.9 119.1 24

 25 Other loans and advances -5.3 4.7 0.6 9.3 6.2 9.6 -10.1 17.7 13.1 17.6 -21.3 25

 26 Mortgages 10.2 -7.3 -30.9 58.4 66.7 139.0 65.3 113.4 144.1 233.3 154.4 26

 27 Trade payables 16.9 30.3 54.8 16.0 16.4 25.3 10.6 29.2 17.9 43.4 56.8 27

 28 Taxes payable -6.3 -0.7 0.6 7.6 3.6 6.5 2.5 7.0 5.1 11.3 18.6 28

 29 Foreign direct investment in U.S. 0.1 0.3 0.0 0.6 0.5 0.9 1.0 0.8 0.8 1.0 0.9 29

 30 Miscellaneous liabilities 32.6 -54.3 -21.0 51.8 -85.4 6.5 -9.9 8.9 0.8 26.4 59.3 30

 31 Proprietors’ net investment -108.2 166.4 163.8 126.8 79.5 48.3 70.9 33.2 56.3 32.8 16.2 31

(1) Net capital transfers paid from table F.9, line 59.

(2) Nonresidential fixed investment plus residential fixed investment, shown in table F.6, lines 11 and 16 respectively.

(3) Equity in the Farm Credit System.
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Z.1, June 11, 2015 23

F.105 General Government (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 3689.0 3885.0 4077.6 4301.0 4788.6 5007.6 4929.5 4965.6 5057.8 5077.5 5131.3 1

 2 Personal current taxes 1144.9 1191.5 1400.6 1503.7 1661.8 1743.9 1711.8 1715.3 1750.1 1798.6 1843.8 2

 3 Taxes on production and imports 1026.1 1057.1 1102.6 1132.0 1162.4 1203.2 1184.5 1197.9 1212.4 1217.9 1214.6 3

 4 Taxes on corporate income 246.0 346.3 349.6 422.7 440.2 554.6 525.9 570.3 564.2 558.1 569.0 4

 5 Taxes from the rest of the world 14.8 15.7 16.7 18.0 19.2 18.9 20.4 17.8 19.3 18.0 21.3 5

 6 Contributions for govt. social insurance 969.4 989.0 922.2 955.8 1109.9 1167.8 1152.2 1159.8 1171.8 1187.2 1201.4 6

 7 Income receipts on assets 136.3 137.2 135.6 132.3 244.4 159.0 187.3 159.5 142.1 147.1 130.6 7

 8 Current transfer receipts 172.0 171.1 174.7 161.8 180.4 194.4 178.5 178.6 234.2 186.2 185.1 8

 9 Current surplus of government enterprises -20.6 -22.9 -24.5 -25.3 -29.6 -34.2 -31.1 -33.6 -36.3 -35.7 -34.5 9

 10 Current expenditures, NIPA basis 5209.7 5451.0 5537.6 5612.7 5662.9 5812.8 5730.5 5791.3 5885.6 5843.9 5839.0 10

 11 Consumption expenditures 2442.1 2522.2 2530.9 2549.7 2547.6 2585.6 2564.5 2572.1 2616.2 2589.6 2583.0 11

 12 Government social benefits 2117.5 2250.5 2274.8 2325.7 2391.1 2497.8 2446.8 2487.2 2520.5 2536.7 2589.3 12

 13 Other current transfer payments 49.4 49.7 55.6 48.8 46.4 36.0 43.0 2.6 49.6 48.7 51.7 13

 14 Interest payments 542.4 572.7 616.4 630.4 617.7 636.1 618.6 671.9 641.8 612.0 557.7 14

 15 Subsidies 58.3 55.9 60.1 58.0 60.2 57.4 57.7 57.5 57.4 57.0 57.2 15

 16 Net saving, NIPA basis -1520.8 -1566.0 -1460.1 -1311.7 -874.3 -805.2 -801.0 -825.7 -827.8 -766.4 -707.6 16

 17 + Consumption of fixed capital 442.7 458.1 479.6 496.0 506.4 519.9 515.2 518.5 521.8 524.2 526.0 17

 18 - Insurance and pension fund reserves (2) -1.2 -3.2 -2.4 -2.5 -2.2 -2.0 -2.9 -1.0 -2.7 -1.5 -2.5 18

 19 - Net capital transfers (3) -3.4 8.1 7.6 5.8 -13.2 -13.4 -13.4 -13.6 -15.3 -11.3 -16.7 19

 20 = Gross saving less net capital transfers -1073.4 -1112.8 -985.7 -819.1 -352.4 -269.9 -269.5 -292.7 -287.9 -229.4 -162.5 20

 21 Gross investment -1083.8 -1054.9 -1051.7 -761.7 -331.2 -199.7 -360.1 23.8 -423.2 -39.1 12.4 21

 22 Fixed investment 647.0 651.8 637.9 619.4 596.3 589.6 574.6 591.0 593.0 599.7 585.1 22

 23 Nonproduced nonfinancial assets 3.4 9.6 8.3 6.8 6.5 5.4 7.3 6.4 1.6 6.4 6.9 23

 24 Net lending (+) or net borrowing (-) -1734.2 -1716.3 -1698.0 -1387.9 -934.1 -794.7 -942.0 -573.7 -1017.9 -645.2 -579.6 24

 25 Net acquisition of financial assets 257.7 364.0 -181.6 206.8 223.9 389.8 287.7 339.6 278.4 653.3 250.1 25

 26 U.S. official reserve assets 51.9 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -9.9 26

 27 Checkable deposits and currency -154.7 154.5 -241.0 -2.5 77.0 76.7 -27.7 -102.9 90.7 346.9 -472.8 27

 28 Time and savings deposits 10.3 -5.8 16.2 22.0 18.1 10.6 33.7 -24.1 26.5 6.6 37.2 28

 29 Money market fund shares 10.2 14.7 1.9 5.1 2.6 12.4 12.9 18.9 3.2 14.5 33.2 29

 30 Security repurchase agreements -4.0 -0.6 -4.9 4.5 2.6 10.3 10.7 15.5 3.0 12.0 27.0 30

 31 Credit market instruments 278.6 157.1 -45.9 134.2 77.6 188.4 167.0 253.8 113.1 219.8 380.3 31

 32 Open market paper -38.8 13.5 -12.3 -7.3 -8.8 -5.0 -4.1 -2.0 -9.1 -4.7 2.4 32

 33 Treasury securities -16.4 9.4 -34.9 45.3 -13.8 68.6 41.9 107.6 29.9 94.9 200.6 33

 34 Agency- and GSE-backed securities 152.9 -21.6 -132.7 -48.8 -25.9 -15.0 -27.2 -2.7 -25.5 -4.7 -17.3 34

 35 Municipal securities 1.0 1.4 0.2 0.2 0.0 0.8 0.9 1.4 0.1 1.0 2.5 35

 36 Corporate and foreign bonds 4.3 8.7 -2.5 2.9 0.3 10.3 11.0 17.0 0.9 12.4 31.4 36

 37 Mortgages 21.5 8.9 3.1 7.4 5.6 15.2 16.3 24.2 4.6 15.6 43.7 37

 38 Consumer credit 87.9 133.1 128.5 132.1 113.1 111.1 121.2 104.7 112.7 105.8 117.3 38

 39 Other loans and advances 66.2 3.6 4.8 2.4 7.2 2.4 7.1 3.7 -0.4 -0.6 -0.5 39

 40 Corporate equities -1.5 24.4 36.8 -11.6 -4.6 3.9 5.3 8.0 -3.8 5.9 16.3 40

 41 Mutual fund shares 1.8 3.1 -0.3 0.8 0.1 2.8 3.0 4.7 0.2 3.4 8.6 41

 42 Trade receivables -25.7 12.4 10.4 8.2 11.8 5.0 10.2 10.6 5.3 -6.1 17.6 42

 43 Taxes receivable 30.1 28.1 28.1 36.5 31.4 59.4 54.0 116.5 28.0 39.3 175.9 43

 44 Miscellaneous assets 60.6 -25.4 0.8 5.3 10.7 23.9 22.6 35.6 16.3 21.2 36.6 44

 45 Net increase in liabilities 1991.9 2080.3 1516.4 1594.7 1158.0 1184.4 1229.7 913.3 1296.3 1298.5 829.7 45

 46 SDR allocations 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 46

 47 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 47

 48 Treasury currency -0.4 -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 48

 49 Credit market instruments 1556.9 1649.8 1015.2 1134.9 720.2 653.5 702.2 350.1 829.4 732.1 86.4 49

 50 U.S. savings securities -2.8 -3.3 -2.7 -2.8 -3.3 -3.3 -3.3 -3.0 -3.5 -3.2 -3.9 50

 51 Treasury bills and other Treasury securities 1446.5 1582.9 1069.5 1143.3 762.7 670.5 746.2 317.3 917.2 701.1 -48.9 51

 52 Budget agency securities 0.1 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 52

 53 Municipal securities 112.2 68.7 -53.6 -5.7 -39.4 -14.0 -39.0 35.2 -84.0 31.7 139.8 53

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

 55 Other loans and advances 0.8 0.9 0.9 0.4 0.5 0.4 0.2 0.5 0.3 0.4 0.4 55

 56 Trade payables -17.3 43.7 47.2 52.2 59.3 58.2 44.5 73.7 64.3 50.3 35.4 56

 57 Insurance reserves 1.1 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 57

 58 Miscellaneous liabilities 401.0 386.2 452.7 407.3 378.6 472.2 483.1 488.9 402.4 514.7 710.1 58

 59 Discrepancy 10.4 -57.9 66.0 -57.3 -21.2 -70.2 90.6 -316.5 135.3 -190.2 -174.9 59

 Memo:

 60 Net acquisition of financial assets (consolidated) (4) 273.2 353.7 -147.5 161.1 237.2 320.8 245.6 231.5 248.2 557.9 49.1 60

 61 Net increase in liabilities (consolidated) (4) 2007.5 2070.0 1550.4 1549.0 1171.3 1115.5 1187.6 805.1 1266.1 1203.1 628.7 61

(1) Sum of the federal government (table F.106) and state and local governments (table F.107) 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.9, line 60 less line 12.

(4) Excludes Treasury securities held by state and local governments (line 33) and federal government loans to state and local governments (line 55).
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24 Z.1, June 11, 2015

F.106 Federal Government

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 2227.8 2391.7 2519.5 2684.1 3113.0 3302.6 3242.6 3276.9 3342.2 3348.8 3401.1 1

 2 Personal current taxes 857.2 893.8 1076.6 1149.0 1286.8 1375.2 1340.3 1356.2 1383.6 1420.8 1467.0 2

 3 Taxes on production and imports 91.4 96.8 108.6 115.0 120.9 134.1 132.0 133.4 135.0 136.0 134.8 3

 4 Taxes on corporate income 200.4 298.7 299.4 369.5 384.9 497.3 470.0 513.5 506.4 499.4 508.6 4

 5 Taxes from the rest of the world 14.8 15.7 16.7 18.0 19.2 18.9 20.4 17.8 19.3 18.0 21.3 5

 6 Contributions for govt. social insurance 950.8 970.9 904.0 938.1 1092.3 1150.1 1134.5 1142.1 1154.2 1169.7 1184.0 6

 7 Income receipts on assets 48.5 54.6 56.4 53.6 164.7 78.1 106.8 78.6 61.1 65.8 49.0 7

 8 Current transfer receipts 64.0 64.4 65.0 49.9 59.5 68.5 55.5 54.6 104.2 59.8 56.1 8

 9 Current surplus of government enterprises 0.7 -3.1 -7.1 -9.1 -15.3 -19.7 -16.9 -19.3 -21.7 -20.8 -19.7 9

 10 Current expenditures, NIPA basis 3476.6 3720.5 3763.7 3763.2 3762.1 3883.1 3802.7 3875.5 3953.2 3900.9 3906.8 10

 11 Consumption expenditures 933.7 1003.9 1006.1 1003.6 963.0 965.2 957.1 955.5 987.7 960.6 962.7 11

 12 Government social benefits 1624.9 1726.6 1744.4 1785.1 1825.6 1882.8 1854.3 1879.5 1892.8 1904.4 1940.1 12

 13 Other current transfer payments 507.5 555.0 528.0 493.2 496.3 536.9 513.0 507.7 567.9 559.0 578.5 13

 14 Interest payments 353.6 380.6 425.7 423.8 417.4 441.3 421.1 475.9 447.9 420.5 368.8 14

 15 Subsidies 56.9 54.3 59.5 57.6 59.7 56.9 57.2 57.0 56.9 56.5 56.7 15

 16 Net saving, NIPA basis -1248.8 -1328.7 -1244.1 -1079.1 -649.1 -580.5 -560.1 -598.6 -611.0 -552.2 -505.7 16

 17 + Consumption of fixed capital 234.5 245.3 257.4 264.1 268.0 274.4 272.1 273.7 275.3 276.7 277.9 17

 18 - Insurance and pension reserves (1) -1.2 -3.2 -2.4 -2.5 -2.2 -2.0 -2.9 -1.0 -2.7 -1.5 -2.5 18

 19 - Net capital transfers paid (2) 64.4 84.8 81.5 80.0 58.4 58.2 56.9 58.5 61.4 56.0 52.3 19

 20 = Gross saving less net capital transfers paid -1077.4 -1165.0 -1065.8 -892.6 -437.3 -362.2 -342.0 -382.4 -394.4 -330.0 -277.5 20

 21 Gross investment -1023.1 -1115.9 -1055.9 -831.4 -395.2 -308.5 -406.3 -96.4 -549.9 -181.6 -141.7 21

 22 Fixed investment 284.0 300.0 297.4 287.8 268.5 253.9 251.0 255.0 253.6 256.1 253.8 22

 23 Nonproduced nonfinancial assets -8.9 -1.0 -0.9 -1.9 -2.4 -2.8 -1.3 -1.9 -6.5 -1.6 -1.0 23

 24 Net lending (+) or net borrowing (-) -1298.2 -1414.9 -1352.4 -1117.2 -661.3 -559.6 -656.0 -349.4 -797.0 -436.1 -394.5 24

 25 Net acquisition of financial assets 237.8 281.9 -150.7 132.4 222.1 233.6 168.6 120.2 221.0 424.4 -151.1 25

 26 U.S. official reserve assets 51.9 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -9.9 26

 27 Checkable deposits and currency -174.2 148.9 -257.6 6.7 69.6 60.8 -36.0 -104.1 73.3 309.8 -450.2 27

 28 Time and savings deposits 0.3 0.1 -0.3 0.2 -0.5 0.2 -0.1 -0.0 0.4 0.6 -0.5 28

 29 Credit market instruments 309.2 84.5 18.3 104.9 124.2 115.2 130.2 110.6 115.2 104.8 120.3 29

 30 Agency- and GSE-backed securities 142.0 -47.2 -118.1 -31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Corporate and foreign bonds 0.6 0.3 -0.1 -0.2 -0.1 -0.0 -0.0 -0.1 0.0 0.0 0.0 31

 32 Other loans and advances 66.2 3.6 4.8 2.4 7.2 2.4 7.1 3.7 -0.4 -0.6 -0.5 32

 33 Mortgages 12.6 -5.4 3.3 1.6 4.0 1.7 1.9 2.3 2.9 -0.3 3.5 33

 34 Consumer credit (3) 87.9 133.1 128.5 132.1 113.1 111.1 121.2 104.7 112.7 105.8 117.3 34

 35 Corporate equities (4) 0.6 24.1 40.3 -13.2 -4.8 -1.6 -0.6 -1.1 -4.2 -0.7 -0.4 35

 36 Trade receivables -21.1 -0.7 4.8 2.6 3.3 -2.7 8.1 -2.8 -0.7 -15.1 11.2 36

 37 Taxes receivable 35.9 27.1 25.6 27.9 27.8 53.0 60.1 94.6 30.2 26.9 167.8 37

 38 Miscellaneous assets 35.2 -3.6 2.0 -1.0 5.9 12.5 11.0 19.9 11.0 8.2 10.7 38

 39 Net increase in liabilities 1536.0 1696.7 1201.7 1249.6 883.4 793.2 824.6 469.6 1018.0 860.5 243.4 39

 40 SDR allocations 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 41

 42 Treasury currency -0.4 -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 42

 43 Credit market instruments 1443.9 1580.2 1067.9 1140.2 759.1 667.1 741.0 314.4 913.1 700.0 -53.8 43

 44 U.S. savings securities -2.8 -3.3 -2.7 -2.8 -3.3 -3.3 -3.3 -3.0 -3.5 -3.2 -3.9 44

 45 Treasury bills -73.3 -19.0 -249.5 107.0 -35.9 -133.9 238.7 -1055.3 92.9 188.3 79.4 45

 46 Other Treasury securities 1519.8 1601.8 1319.0 1036.3 798.7 804.4 507.6 1372.7 824.3 512.9 -128.3 46

 47 Budget agency securities 0.1 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 47

 48 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 48

 49 Trade payables -56.2 5.2 8.8 13.4 19.6 17.5 4.5 33.0 23.2 9.2 -4.7 49

 50 Insurance reserves 1.1 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 50

 51 Miscellaneous liabilities 97.0 110.7 123.7 95.7 104.8 108.1 79.2 121.7 81.6 149.9 304.0 51

 52 Nonmarketable securities held by pension plans (5) 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 52

 53 Claims of pension fund on sponsor 15.6 20.2 20.8 50.3 -6.8 25.9 19.8 42.1 14.7 26.8 409.9 53

 54 Other 19.5 24.9 32.1 5.0 13.4 13.4 -15.5 27.0 -13.1 55.2 -34.4 54

 55 Discrepancy -54.3 -49.1 -9.9 -61.2 -42.1 -53.7 64.3 -286.0 155.5 -148.4 -135.9 55

 Memo:

 56 Change in cash balance (6) -173.2 148.9 -258.0 7.5 69.6 62.1 -79.3 -6.5 78.1 256.1 -492.7 56

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

(2) Table F.9, line 61 less line 12.

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

 the government purchased from depository institutions and finance companies.

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

(5) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(6) Time and savings deposits (line 29) plus checkable deposits and currency at the monetary authority and U.S.-chartered depository institutions sectors (table F.204, lines 3 and 8).
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F.107 State and Local Governments (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Current receipts, NIPA basis 1919.2 1998.5 2030.5 2061.2 2125.6 2205.9 2157.0 2193.8 2233.9 2239.1 2256.9 1

 2 Personal current taxes 287.8 297.6 324.1 354.7 375.0 368.7 371.5 359.1 366.5 377.7 376.9 2

 3 Taxes on production and imports 934.8 960.4 994.0 1017.0 1041.6 1069.1 1052.5 1064.6 1077.4 1081.9 1079.7 3

 4 Taxes on corporate income 45.6 47.7 50.2 53.2 55.3 57.3 55.9 56.8 57.8 58.7 60.4 4

 5 Contributions for govt. social insurance 18.6 18.1 18.2 17.7 17.7 17.6 17.7 17.7 17.6 17.5 17.4 5

 6 Income receipts on assets 87.8 82.6 79.2 78.6 79.7 80.9 80.5 80.9 81.0 81.3 81.6 6

 7 Current transfer receipts 566.1 612.0 582.1 556.2 570.8 626.8 593.1 629.1 648.3 636.8 655.7 7

 8 Current surplus of government enterprises -21.4 -19.8 -17.4 -16.2 -14.3 -14.5 -14.1 -14.3 -14.7 -14.8 -14.7 8

 9 Current expenditures, NIPA basis 2191.2 2235.8 2246.4 2293.8 2350.7 2430.7 2397.9 2420.9 2450.7 2453.3 2458.9 9

 10 Consumption expenditures 1508.4 1518.3 1524.8 1546.1 1584.5 1620.4 1607.4 1616.6 1628.5 1629.1 1620.2 10

 11 Govt. social benefit payments to persons 492.6 523.8 530.4 540.6 565.4 615.1 592.5 607.8 627.7 632.3 649.2 11

 12 Interest payments 188.8 192.1 190.7 206.6 200.3 194.8 197.5 196.1 193.9 191.5 188.9 12

 13 Subsidies 1.4 1.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 13

 14 Net saving, NIPA basis -271.9 -237.3 -215.9 -232.6 -225.1 -224.8 -240.9 -227.1 -216.8 -214.3 -201.9 14

 15 + Consumption of fixed capital 208.2 212.7 222.2 231.8 238.4 245.5 243.1 244.7 246.5 247.6 248.0 15

 16 - Net capital transfers paid (2) -67.7 -76.7 -73.8 -74.2 -71.6 -71.6 -70.3 -72.2 -76.7 -67.3 -69.0 16

 17 = Gross saving less net capital transfers paid 4.0 52.2 80.1 73.5 84.9 92.3 72.5 89.7 106.5 100.7 115.1 17

 18 Gross investment -60.7 61.0 4.1 69.7 64.0 108.9 46.2 120.2 126.7 142.4 154.1 18

 19 Fixed investment 363.0 351.9 340.5 331.6 327.8 335.7 323.6 336.1 339.4 343.6 331.3 19

 20 Nonproduced nonfinancial assets 12.3 10.6 9.2 8.7 9.0 8.3 8.6 8.4 8.2 8.0 7.9 20

 21 Net lending (+) or net borrowing (-) -436.0 -301.4 -345.6 -270.7 -272.8 -235.1 -286.0 -224.2 -220.9 -209.1 -185.1 21

 22 Net acquisition of financial assets 19.9 82.1 -30.9 74.5 1.7 156.2 119.1 219.4 57.4 228.9 401.2 22

 23 Checkable deposits and currency 19.6 5.7 16.6 -9.2 7.4 16.0 8.3 1.2 17.4 37.1 -22.5 23

 24 Time and savings deposits 10.0 -5.9 16.5 21.8 18.6 10.4 33.8 -24.1 26.1 6.0 37.7 24

 25 Money market fund shares 10.2 14.7 1.9 5.1 2.6 12.4 12.9 18.9 3.2 14.5 33.2 25

 26 Security repurchase agreements -4.0 -0.6 -4.9 4.5 2.6 10.3 10.7 15.5 3.0 12.0 27.0 26

 27 Credit market instruments -30.6 72.6 -64.2 29.3 -46.6 73.2 36.8 143.2 -2.1 114.9 260.0 27

 28 Open market paper -38.8 13.5 -12.3 -7.3 -8.8 -5.0 -4.1 -2.0 -9.1 -4.7 2.4 28

 29 Treasury securities -16.4 9.4 -34.9 45.3 -13.8 68.6 41.9 107.6 29.9 94.9 200.6 29

 30 Agency- and GSE-backed securities 11.0 25.6 -14.6 -17.7 -25.9 -15.0 -27.2 -2.7 -25.5 -4.7 -17.3 30

 31 Municipal securities 1.0 1.4 0.2 0.2 0.0 0.8 0.9 1.4 0.1 1.0 2.5 31

 32 Corporate and foreign bonds 3.7 8.4 -2.4 3.1 0.4 10.3 11.0 17.0 0.9 12.4 31.4 32

 33 Mortgages 8.9 14.3 -0.2 5.7 1.6 13.5 14.4 21.8 1.7 16.0 40.2 33

 34 Corporate equities -2.1 0.3 -3.5 1.6 0.2 5.5 5.9 9.1 0.5 6.6 16.8 34

 35 Mutual fund shares 1.8 3.1 -0.3 0.8 0.1 2.8 3.0 4.7 0.2 3.4 8.6 35

 36 Trade receivables -4.6 13.1 5.6 5.6 8.5 7.7 2.1 13.5 6.1 9.0 6.4 36

 37 Taxes receivable -5.8 1.0 2.5 8.6 3.6 6.5 -6.0 21.9 -2.3 12.3 8.1 37

 38 Miscellaneous assets 25.5 -21.9 -1.2 6.3 4.8 11.4 11.6 15.7 5.3 13.0 25.9 38

 39 Net increase in liabilities 455.9 383.5 314.7 345.1 274.6 391.3 405.1 443.7 278.2 438.0 586.3 39

 40 Credit market instruments 113.0 69.5 -52.7 -5.3 -38.9 -13.7 -38.8 35.7 -83.7 32.2 140.2 40

 41 Municipal securities 112.2 68.7 -53.6 -5.7 -39.4 -14.0 -39.0 35.2 -84.0 31.7 139.8 41

 42 Short-term (3) 7.8 -0.7 -10.6 3.8 -10.9 -6.7 -5.0 16.0 -33.5 -4.1 2.1 42

 43 Long-term 104.4 69.3 -42.9 -9.4 -28.6 -7.4 -34.0 19.2 -50.5 35.9 137.7 43

 44 U.S. government loans 0.8 0.9 0.9 0.4 0.5 0.4 0.2 0.5 0.3 0.4 0.4 44

 45 Trade payables 38.9 38.5 38.4 38.8 39.6 40.7 40.0 40.7 41.1 41.1 40.1 45

 46 Claims of pension fund on sponsor (4) 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 46

 47 Discrepancy 64.7 -8.8 76.0 3.8 20.9 -16.5 26.3 -30.5 -20.3 -41.8 -39.0 47

(1) Data for state and local government employee retirement funds are shown in table F.120.

(2) Table F.9, line 62.

(3) Debt with original maturity of 13 months or less.

(4) Included in miscellaneous liabilities.
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F.108 Financial Business (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid 340.9 375.1 319.6 310.2 286.2 292.6 279.0 300.8 277.8 312.7 289.4 1

 2 Gross investment 182.8 174.6 222.6 314.6 367.7 318.1 188.0 241.1 636.7 206.7 261.0 2

 3 Capital expenditures 167.5 166.8 173.9 195.5 216.2 221.8 202.7 232.9 223.4 228.1 234.7 3

 4 Fixed residential investment 0.7 4.0 6.5 5.3 14.7 7.4 -3.6 19.7 5.4 8.2 11.7 4

 5 Fixed nonresidential investment 166.9 162.8 167.5 190.2 201.5 214.3 206.3 213.1 218.0 219.9 223.0 5

 6 Net lending (+) or net borrowing (-) 15.3 7.8 48.7 119.1 151.5 96.4 -14.7 8.2 413.3 -21.4 26.3 6

 7 Net acqisition of financial assets -1291.2 34.8 2160.1 1800.9 3556.3 3114.4 4168.3 3564.7 2573.9 2150.8 2670.8 7

 8 U.S. official reserve assets 0.3 0.3 -0.3 0.2 0.2 0.2 0.2 0.1 0.5 0.1 0.1 8

 9 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury currency 4.0 0.9 0.7 0.6 0.7 0.8 1.0 0.9 0.8 0.5 1.5 10

 11 Foreign deposits 11.6 8.7 -62.9 0.4 -9.6 -9.6 -57.3 29.0 -13.7 3.6 0.8 11

 12 Net interbank assets -349.5 -106.9 603.0 -64.1 760.1 131.5 776.2 47.8 339.5 -637.7 234.2 12

 13 Checkable deposits and currency -30.4 -32.3 37.1 9.9 -3.6 -19.1 -65.3 37.2 91.8 -140.3 2.9 13

 14 Time and savings deposits 128.6 -109.1 -48.0 5.2 76.1 11.8 69.3 60.4 76.2 -158.7 79.1 14

 15 Money market fund shares -175.4 -172.6 -65.4 -81.0 -52.5 17.9 -80.9 -137.6 35.2 254.9 1.8 15

 16 Federal funds and security repos -495.4 270.8 117.9 262.5 -375.0 45.4 50.0 316.7 -349.8 164.7 86.2 16

 17 Credit market instruments -807.8 -37.9 1141.3 1270.5 1914.8 1914.3 1812.0 1942.9 1943.5 1958.8 1147.9 17

 18 Open market paper -390.0 -93.7 -74.9 -0.5 34.6 -16.9 40.9 101.1 -142.0 -67.8 -112.2 18

 19 Treasury securities 366.2 505.7 966.0 289.6 531.5 499.0 687.4 356.6 707.1 244.7 278.0 19

 20 Agency- and GSE-backed securities 680.6 50.4 166.2 212.5 428.5 245.4 235.7 144.2 230.6 371.1 -88.4 20

 21 Municipal securities 38.4 44.2 13.5 139.2 8.6 50.2 28.7 42.3 78.8 50.8 134.0 21

 22 Corporate and foreign bonds -30.2 210.6 128.6 418.1 412.4 390.5 330.5 552.2 328.1 351.3 393.9 22

 23 Depository institution loans n.e.c. -758.5 -92.2 146.6 186.1 186.1 308.0 316.2 321.6 195.3 399.0 419.1 23

 24 Other loans and advances -463.8 -209.7 -30.9 38.7 133.4 121.0 90.0 115.8 146.8 131.5 -48.1 24

 25 Mortgages -66.8 -316.7 -155.8 -57.8 106.3 202.8 19.1 159.6 271.8 360.6 109.0 25

 26 Consumer credit -183.7 -136.7 -17.9 44.7 73.4 114.4 63.5 149.4 127.0 117.6 62.6 26

 27 Corporate equities 155.1 51.6 -70.2 6.2 196.8 118.9 -73.3 174.0 163.3 211.5 -65.9 27

 28 Mutual fund shares 65.0 49.8 -52.4 -45.1 46.3 6.8 26.8 9.8 -2.1 -7.3 18.3 28

 29 Trade receivables -38.0 -8.6 -0.8 -1.6 -2.2 1.1 13.6 13.6 -13.6 -9.1 21.3 29

 30 Security credit 30.3 81.4 -8.3 55.7 45.9 42.3 -55.3 224.0 69.2 -68.6 -59.5 30

 31 Life insurance reserves 2.8 8.2 7.7 14.7 10.8 10.9 10.4 11.2 9.8 12.2 9.4 31

 32 U.S. direct investment abroad 40.7 -2.3 15.2 17.1 32.1 27.7 34.9 13.1 45.5 17.2 -3.1 32

 33 Miscellaneous assets 163.9 32.9 545.7 349.7 915.3 813.6 1706.0 821.7 177.8 548.8 1195.8 33

 34 Net increase in liabilities -1306.5 27.0 2111.4 1681.7 3404.8 3018.1 4183.0 3556.5 2160.6 2172.2 2644.5 34

 35 Net interbank liabilities -536.9 -142.8 820.5 -194.5 1129.1 51.2 1175.1 98.3 262.0 -1330.5 595.8 35

 36 Checkable deposits and currency -7.9 266.3 234.5 267.7 332.6 351.1 183.4 578.9 229.8 412.1 -205.7 36

 37 Time and savings deposits 343.7 115.6 404.1 520.4 409.1 513.2 748.7 425.3 171.3 707.6 892.4 37

 38 Money market fund shares -498.7 -503.2 -112.8 7.1 28.9 9.6 -86.3 -143.8 39.7 228.7 -47.5 38

 39 Federal funds and security repos -431.0 213.4 179.9 210.9 -389.4 7.8 34.0 357.2 -511.0 151.0 -0.9 39

 40 Credit market instruments -1663.4 -901.8 -341.4 -419.3 213.9 271.7 -300.4 323.8 466.2 597.2 -340.7 40

 41 Open market paper -448.1 -102.2 -68.2 -58.8 -48.9 -36.6 -83.2 30.9 48.5 -142.5 -148.1 41

 42 Agency- and GSE-backed securities -60.1 -46.9 -21.9 -22.4 239.9 150.6 -278.1 184.6 225.9 469.9 -164.4 42

 43 Corporate and foreign bonds -448.5 -546.3 -237.4 -225.2 -84.1 68.6 26.0 89.6 61.4 97.3 -27.8 43

 44 Depository institution loans n.e.c. -435.9 -62.5 32.6 -121.2 20.9 2.2 6.1 -132.1 45.8 89.0 26.6 44

 45 Other loans and advances -282.6 -144.7 -60.0 3.5 78.3 73.1 16.0 144.2 79.2 53.1 -44.3 45

 46 Mortgages 11.8 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.2 46

 47 Corporate equities 315.9 191.4 164.1 168.3 162.5 219.6 37.1 298.9 177.1 365.1 315.1 47

 48 Mutual fund shares 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 48

 49 Trade payables 48.9 -52.0 -3.8 -0.0 0.3 3.4 1.0 11.9 8.4 -7.8 5.1 49

 50 Security credit -43.5 29.8 31.9 32.8 68.9 65.4 221.8 6.3 113.4 -79.7 7.7 50

 51 Life insurance reserves 26.3 13.6 79.9 -12.2 29.8 55.5 41.8 52.1 55.0 73.1 89.1 51

 52 Pension entitlements 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 52

 53 Taxes payable 6.1 13.0 10.7 6.9 17.7 15.9 46.7 27.8 -10.1 -0.8 35.6 53

 54 Equity in noncorporate business 0.6 0.9 -2.9 6.7 -3.9 2.3 3.0 -1.8 6.7 1.1 0.8 54

 55 Foreign direct investment in U.S. 45.7 48.5 43.4 4.5 28.7 17.1 18.4 15.6 14.2 20.2 17.4 55

 56 Miscellaneous liabilities 192.6 -232.2 -233.2 -40.2 239.4 291.7 845.4 302.3 16.6 2.4 213.0 56

 57 Discrepancy 158.1 200.5 97.0 -4.4 -81.5 -25.5 91.0 59.7 -358.9 106.0 28.5 57

(1) Sum of financial sectors shown on tables F.109 through F.131.
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F.109 Monetary Authority (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving -0.7 -8.5 -0.2 -17.5 -0.8 -1.4 -1.1 -1.4 -1.6 -1.5 -1.4 1

 2 Fixed nonresidential investment 0.8 0.7 0.6 0.8 0.9 0.9 0.9 0.9 0.9 0.9 0.9 2

 3 Net acquisition of financial assets -4.5 185.5 493.6 9.7 1118.8 481.6 922.1 543.3 291.4 169.7 -10.5 3

 4 U.S. official reserve assets 0.3 0.3 -0.3 0.2 0.2 0.2 0.2 0.1 0.5 0.1 0.1 4

 5 SDR certificates 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury currency 4.0 0.9 0.7 0.6 0.7 0.8 1.0 0.9 0.8 0.5 1.5 6

 7 Federal Reserve float (2) -0.6 0.7 0.8 0.1 -0.5 0.4 1.7 0.1 -1.6 1.4 -0.8 7

 8 Interbank loans (2) -463.1 -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 8

 9 Discount window (3) -447.4 -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 9

 10 AMLF (4) -15.7 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 -80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Credit market instruments 1001.6 271.5 376.5 34.5 1086.1 480.6 911.1 538.5 299.7 173.1 21.6 12

 13 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Treasury securities 300.7 244.9 642.0 2.7 542.6 252.6 498.9 310.2 184.4 16.9 48.4 14

 15 Treasury bills 0.0 0.0 0.0 -18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Other Treasury securities 300.7 244.9 642.0 21.1 542.6 252.6 498.9 310.2 184.4 16.9 48.4 16

 17 Agency- and GSE-backed securities 1048.5 71.4 -197.9 61.8 543.9 228.1 412.3 228.4 115.5 156.3 -26.8 17

 18 Mortgage-backed securities 908.4 83.8 -154.5 89.0 563.5 246.7 451.8 243.2 130.1 161.6 -19.6 18

 19 Other agency- and GSE-baked securities 140.2 -12.4 -43.5 -27.2 -19.6 -18.5 -39.5 -14.7 -14.6 -5.3 -7.2 19

 20 Depository institution loans n.e.c. -347.6 -44.8 -67.6 -29.9 -0.5 -0.1 -0.1 -0.1 -0.1 -0.1 0.0 20

 21 Households (TALF) (5) 47.5 -22.8 -15.7 -8.5 -0.5 -0.1 -0.1 -0.1 -0.1 -0.1 0.0 21

 22 Brokers and dealers (6) -45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Funding corporations (Maiden Lane) (7) 0.1 -3.4 -21.0 -4.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (AIG) -16.7 -2.2 -20.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (Maiden Lane II) (8) -3.5 -2.5 -6.7 -6.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Funding corporations (Maiden Lane III) (9) -5.9 -4.4 -4.2 -9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Funding corporations (CPFF) (10) -323.6 -9.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28

 29 Corporate equities (11) 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 29

 30 Miscellaneous assets -494.9 7.3 142.4 -25.6 32.3 -0.5 8.2 3.3 -8.8 -4.8 -32.5 30

 31 Nonofficial foreign currencies (12) -543.5 -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 31

 32 Other 48.5 17.5 42.7 65.3 40.9 -1.8 7.7 4.4 -9.3 -9.9 -29.6 32

 33 Net increase in liabilities -9.1 184.6 493.2 9.3 1118.7 480.6 919.9 542.9 291.2 168.2 -11.5 33

 34 Depository institution reserves 117.0 -8.9 594.2 -71.2 758.0 128.9 781.0 46.1 328.0 -639.4 237.1 34

 35 Vault cash of depository institutions -2.8 -2.2 8.1 7.1 2.6 2.0 -6.3 1.1 12.3 1.0 -1.7 35

 36 Checkable deposits and currency -117.6 185.0 -122.1 62.1 139.5 152.2 -16.3 58.8 194.4 372.0 -413.5 36

 37 Due to federal government -173.8 149.0 -255.0 7.0 69.8 61.0 -78.7 -7.4 75.8 254.4 -491.2 37

 38 Treasury cash holdings -0.0 -0.1 -0.0 0.0 0.1 -0.0 0.2 -0.5 0.1 0.2 -0.0 38

 39 Treasury general deposit account 80.5 -45.9 -55.0 7.0 69.7 61.1 -78.9 -6.9 75.8 254.2 -491.2 39

 40 Treasury temporary supplementary financing account -254.3 195.0 -200.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Due to government-sponsored enterprises 14.0 -21.6 51.1 -37.4 -1.3 -5.8 -60.3 1.4 62.9 -27.0 3.0 41

 42 Due to rest of the world 1.0 0.9 -3.2 6.3 1.5 -2.7 -4.0 -4.1 -2.8 0.0 -0.1 42

 43 Currency outside banks 41.2 56.7 85.0 86.2 69.5 99.7 126.6 69.0 58.5 144.6 74.8 43

 44 Security repurchase agreements -10.6 -18.0 40.2 7.3 208.7 193.9 100.4 461.9 -185.5 398.8 108.1 44

 45 Reverse repurchase agreement operations (13) 0.0 0.0 0.0 0.0 197.8 199.0 177.3 389.6 -157.9 386.8 -72.9 45

 46 Other -10.6 -18.0 40.2 7.3 11.0 -5.0 -76.9 72.3 -27.6 12.0 180.9 46

 47 Miscellaneous liabilities 4.9 28.7 -27.2 4.0 9.8 3.5 61.2 -25.1 -58.0 35.7 58.5 47

 48 Federal Reserve Bank stock 4.6 0.9 0.4 0.5 0.1 1.1 2.2 0.4 0.1 1.5 1.0 48

 49 Other 0.4 27.8 -27.5 3.5 9.7 2.4 59.0 -25.5 -58.1 34.2 57.5 49

 50 Discrepancy -6.0 -10.0 -1.2 -18.8 -1.9 -3.4 -4.1 -2.8 -2.6 -4.0 -3.3 50

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table F.203.

(3) Federal Reserve loans extended to U.S.-chartered depository institutions through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to U.S.-chartered depository institutions through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and AMLF.

(7) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(8) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(9) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(10) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(11) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.

(13) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).
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28 Z.1, June 11, 2015

F.110 Private Depository Institutions (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (2) 92.2 144.6 75.8 15.8 15.5 -29.8 -19.0 -35.3 -54.6 -10.1 2.7 1

 2 Fixed nonresidential investment 45.7 35.7 25.1 27.5 28.9 31.2 28.9 31.5 31.9 32.7 34.9 2

 3 Net lending (+) or net borrowing (-) -316.8 -24.5 -14.5 -71.3 55.2 -51.5 -95.2 -104.2 173.9 -180.4 50.2 3

 4 Net acquisition of financial assets -699.2 -193.2 840.5 500.1 993.4 972.1 1809.1 1240.3 793.0 45.8 1492.3 4

 5 Vault cash -2.8 -2.2 8.1 7.1 2.6 2.0 -6.3 1.1 12.3 1.0 -1.7 5

 6 Reserves at Federal Reserve 117.0 -8.9 594.2 -71.2 758.0 128.9 781.0 46.1 328.0 -639.4 237.1 6

 7 Federal funds and security repos -308.1 20.9 22.5 112.0 -98.0 10.6 44.8 118.6 -62.7 -58.2 54.0 7

 8 Credit market instruments -536.6 -139.5 249.9 476.7 296.7 783.5 782.2 883.2 606.2 862.5 1017.8 8

 9 Open market paper -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Treasury securities 94.7 103.0 -46.7 86.6 -35.1 195.4 176.9 173.8 217.5 213.5 -5.9 10

 11 Agency- and GSE-backed securities 172.6 138.5 133.6 49.7 42.4 26.2 27.7 9.0 76.7 -8.4 192.4 11

 12 Municipal securities 3.4 29.3 46.8 68.0 55.1 31.0 37.0 16.2 34.4 36.5 69.3 12

 13 Corporate and foreign bonds -137.8 -124.7 4.3 -13.8 -16.2 -35.9 -54.0 2.8 -95.4 2.9 -17.9 13

 14 Depository institution loans n.e.c. -410.9 -47.4 214.1 216.0 186.6 308.1 316.2 321.7 195.5 399.1 419.1 14

 15 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Mortgages -179.4 -157.2 -105.8 21.7 -11.0 149.9 205.2 217.4 66.8 110.3 299.4 16

 17 Consumer credit -63.6 -81.0 3.6 48.7 74.9 108.8 73.2 142.3 110.8 108.7 61.4 17

 18 Corporate equities 6.3 -1.7 0.9 -10.5 0.8 0.7 -2.5 -0.7 1.6 4.3 -1.7 18

 19 Mutual fund shares 14.1 -5.6 -0.5 -0.7 1.5 -0.8 8.7 5.0 -13.1 -3.5 -2.9 19

 20 Security credit -7.8 6.2 31.0 -9.2 10.4 12.0 19.0 4.7 9.8 14.3 1.4 20

 21 Life insurance reserves 0.8 4.5 5.2 7.4 5.7 5.9 5.6 6.0 5.0 6.9 5.2 21

 22 U.S. direct investment abroad -0.8 2.7 -6.2 -2.6 3.5 5.2 -5.4 0.4 18.6 7.1 -15.6 22

 23 Miscellaneous assets 18.7 -69.4 -64.8 -9.1 12.2 24.0 182.0 175.9 -112.7 -149.2 198.7 23

 24 Net increase in liabilities -382.4 -168.7 855.0 571.4 938.2 1023.5 1904.3 1344.5 619.1 226.2 1442.2 24

 25 Net interbank liabilities -651.1 -131.7 218.2 -130.3 368.5 -79.7 400.4 51.1 -78.4 -692.1 360.4 25

 26 Checkable deposits 109.7 81.3 356.7 205.6 193.1 198.8 199.7 520.1 35.4 40.1 207.7 26

 27 Small time and savings deposits 517.2 298.3 577.4 539.6 307.0 365.0 517.3 355.7 449.6 137.3 1031.1 27

 28 Large time deposits -173.6 -182.7 -173.3 -19.2 102.1 148.2 231.4 69.6 -278.3 570.3 -138.7 28

 29 Federal funds and security repos -132.2 6.7 -27.1 -32.0 -92.8 25.4 208.7 -0.4 -43.1 -63.7 -51.5 29

 30 Credit market instruments -306.3 -218.0 -52.4 -109.9 -31.5 43.5 -24.1 116.5 48.6 33.0 -138.2 30

 31 Open market paper 0.1 -20.1 7.6 -33.1 -27.8 -5.2 -5.2 -9.6 -5.0 -0.9 -21.9 31

 32 Corporate bonds -28.5 -49.2 2.4 -82.3 -74.9 -12.0 -27.2 -10.1 -11.9 1.0 -57.5 32

 33 Other loans and advances -278.0 -148.7 -62.5 5.6 71.2 60.7 8.3 136.2 65.4 32.8 -58.7 33

 34 Corporate equity issues 11.6 11.9 6.4 1.6 2.2 2.7 2.5 4.3 2.8 1.2 24.0 34

 35 Taxes payable (net) 7.3 6.6 10.6 7.0 0.1 15.2 31.1 29.0 -11.6 12.3 19.1 35

 36 Foreign direct investment in U.S. 16.6 12.4 26.0 -0.8 4.0 3.1 3.7 2.7 -6.1 12.1 2.8 36

 37 Miscellaneous liabilities 218.3 -53.5 -87.4 109.8 85.4 301.4 333.5 195.8 500.3 175.9 125.4 37

 38 Investment by holding companies 166.8 33.4 76.1 101.2 59.2 191.0 165.8 206.4 114.4 277.5 -86.0 38

 39 Investment by funding corporations -73.5 -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 39

 40 Other 125.0 -55.4 -129.8 20.4 28.7 130.6 166.3 1.6 357.8 -3.1 239.4 40

 41 Discrepancy 363.3 133.4 65.1 59.7 -68.6 -9.5 47.3 37.4 -260.4 137.6 -82.4 41

 Memo:

 42 Consumer leases not included above (3) -2.6 -0.8 -0.1 0.4 1.5 0.7 0.7 0.9 1.1 0.1 0.1 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.9, line 54.

(3) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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Z.1, June 11, 2015 29

F.111 U.S.-Chartered Depository Institutions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (1) 83.3 133.8 62.7 0.4 -0.5 -41.2 -29.7 -46.7 -66.5 -21.9 -9.0 1

 2 Fixed nonresidential investment 40.0 31.0 20.1 21.7 21.9 23.9 21.7 24.2 24.4 25.2 27.3 2

 3 Net acquisition of financial assets -501.8 -304.7 322.7 472.6 635.0 845.5 1012.9 1033.8 704.5 630.8 1473.4 3

 4 Vault cash -2.8 -2.2 8.1 7.1 2.5 2.0 -6.3 1.0 12.4 0.9 -1.6 4

 5 Reserves at Federal Reserve 44.4 -85.6 222.9 -0.2 454.4 190.7 233.6 114.0 285.2 130.0 247.4 5

 6 Federal funds and security repos -308.2 0.7 -25.0 60.1 -87.2 -30.4 -54.6 2.8 -25.8 -43.9 120.3 6

 7 Credit market instruments -280.4 -120.7 173.7 424.0 253.5 672.5 667.0 763.4 534.2 725.5 916.2 7

 8 Open market paper -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities 68.1 93.0 -43.7 69.3 -26.1 203.3 174.0 175.1 216.7 247.3 -5.8 9

 10 Agency- and GSE-backed securities 168.0 110.1 106.9 35.5 47.7 43.0 54.9 19.6 89.0 8.4 218.9 10

 11 Residential mortgage pass-through securities -13.4 -2.2 63.8 18.6 40.8 26.2 22.0 11.4 53.4 18.0 178.2 11

 12 Commercial mortgage pass-through securities 0.1 -0.2 4.8 8.6 8.5 12.2 7.2 22.4 15.2 4.0 14.0 12

 13 Residential CMOs and other structured MBS 70.1 129.4 80.3 -10.8 -23.6 13.0 44.9 -6.1 14.0 -0.7 19.3 13

 14 Commercial CMOs and other structured MBS 0.1 -0.4 9.8 21.0 23.9 14.6 12.8 10.7 15.2 19.8 8.8 14

 15 Other 111.3 -16.6 -51.8 -2.0 -1.9 -23.0 -32.0 -18.7 -8.8 -32.7 -1.4 15

 16 Municipal securities 2.4 30.3 42.6 67.8 53.8 32.7 37.7 17.4 34.5 41.0 68.5 16

 17 Corporate and foreign bonds 25.1 -98.2 2.5 -9.0 15.2 -37.4 -75.8 2.1 -82.4 6.4 2.9 17

 18 Private residential mortgage pass-through securities 6.6 -9.7 -3.1 15.3 9.9 -6.0 -3.4 -9.0 -7.4 -4.2 -6.1 18

 19 Private commercial mortgage pass-through securities 1.1 -6.4 -2.5 0.4 -1.2 -2.5 -6.5 1.8 -4.3 -0.9 -1.7 19

 20 Private residential CMOs and other structured MBS -51.6 -70.6 -22.0 -20.8 -14.6 -5.6 -19.3 17.3 -11.5 -8.7 -11.0 20

 21 Private commercial CMOs and other structured MBS -3.8 -1.4 2.7 4.1 4.6 5.4 5.9 -5.1 7.0 13.8 13.3 21

 22 Other 72.9 -10.2 27.3 -8.0 16.5 -28.8 -52.4 -2.8 -66.2 6.3 8.3 22

 23 Depository institution loans n.e.c. -285.9 -36.3 163.6 218.6 136.4 241.6 258.6 269.3 165.0 273.6 318.1 23

 24 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Mortgages -178.1 -149.2 -105.3 13.7 -26.6 117.9 176.8 184.6 30.2 79.9 291.9 25

 26 Consumer credit -64.5 -70.3 7.1 28.1 52.9 71.5 40.8 95.2 81.2 68.9 21.8 26

 27 Corporate equities 6.3 -1.8 1.0 -10.5 0.8 0.7 -2.5 -0.7 1.6 4.3 -1.7 27

 28 Mutual fund shares 14.8 -5.8 -0.8 -1.1 1.6 -0.7 8.5 5.1 -12.8 -3.6 -2.5 28

 29 Security credit -3.4 3.2 12.2 -1.9 7.9 8.2 21.9 10.6 -2.7 2.9 1.6 29

 30 Life insurance reserves 0.8 4.5 5.2 7.4 5.7 5.9 5.6 6.0 5.0 6.9 5.2 30

 31 U.S. direct investment abroad -0.8 2.7 -6.2 -2.6 3.5 5.2 -5.4 0.4 18.6 7.1 -15.6 31

 32 Miscellaneous assets 27.5 -99.7 -68.5 -9.7 -7.8 -8.5 145.0 131.3 -111.2 -199.3 204.0 32

 33 Net increase in liabilities -375.7 -250.1 370.0 536.7 628.3 963.6 1258.3 1151.0 607.6 837.3 1418.9 33

 34 Net interbank liabilities -496.4 -201.3 -263.4 -114.2 191.0 47.7 202.1 40.5 135.9 -187.7 379.6 34

 35 Federal Reserve float -0.6 0.7 0.8 0.1 -0.5 0.4 1.7 0.1 -1.6 1.4 -0.8 35

 36 Borrowing from Federal Reserve banks -463.1 -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 36

 37 To domestic banking 7.5 -16.8 40.8 -29.5 38.5 -45.3 147.3 -2.1 -157.5 -168.6 247.7 37

 38 To foreign banks -40.2 -88.8 -304.9 -84.8 153.0 92.5 53.4 42.0 294.3 -19.8 133.0 38

 39 Checkable deposits 94.0 69.6 319.4 176.2 148.2 136.2 126.3 474.1 43.3 -98.7 142.4 39

 40 Federal government 0.3 -0.1 -2.7 0.3 0.3 0.9 -0.5 1.0 1.9 1.2 -1.1 40

 41 Private domestic 122.4 73.5 296.5 180.1 148.6 133.1 120.1 459.6 56.0 -103.1 148.8 41

 42 Rest of the world -28.7 -3.8 25.6 -4.2 -0.7 2.2 6.7 13.5 -14.7 3.3 -5.4 42

 43 Small time and savings deposits 472.3 271.7 537.1 491.5 256.7 343.8 543.0 303.3 415.5 113.5 878.0 43

 44 Large time deposits -335.7 -133.8 -13.2 -9.1 23.9 102.5 -7.9 44.8 -373.3 746.3 28.0 44

 45 Federal funds and security repos -195.0 -48.1 -81.5 -52.6 -80.5 -33.2 55.5 -45.3 -88.0 -55.0 -30.0 45

 46 Credit market instruments -292.2 -217.6 -50.5 -110.8 -33.5 35.1 -25.8 106.3 35.8 24.0 -136.2 46

 47 Open market paper 0.1 -20.1 7.6 -33.1 -27.8 -5.2 -5.2 -9.6 -5.0 -0.9 -21.9 47

 48 Corporate bonds -28.5 -49.2 2.4 -82.3 -74.9 -12.0 -27.2 -10.1 -11.9 1.0 -57.5 48

 49 Other loans and advances -263.9 -148.3 -60.5 4.6 69.2 52.3 6.7 126.0 52.7 23.8 -56.8 49

 50 Corporate equity issues 11.6 11.9 6.4 1.6 2.2 2.7 2.5 4.3 2.8 1.2 24.0 50

 51 Taxes payable (net) 7.3 6.6 10.6 7.0 0.1 15.2 31.1 29.0 -11.6 12.3 19.1 51

 52 Miscellaneous liabilities 358.2 -8.9 -94.9 147.1 120.1 313.6 331.5 194.0 447.2 281.5 114.0 52

 53 Investment by holding companies 166.8 33.4 76.1 101.2 59.2 191.0 165.8 206.4 114.4 277.5 -86.0 53

 54 Other 191.5 -42.3 -171.0 45.9 60.9 122.5 165.7 -12.5 332.8 4.0 200.1 54

 55 Discrepancy 169.4 157.4 90.0 42.8 -29.1 53.0 194.0 46.3 -187.8 159.4 -90.8 55

 Memo:

 56 Consumer leases not included above (2) -2.6 -0.8 -0.1 0.4 1.5 0.7 0.7 0.9 1.1 0.1 0.1 56

(1) Net capital transfers paid from table F.9, line 54.

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.
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30 Z.1, June 11, 2015

F.112 Foreign Banking Offices in U.S. (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 2.3 2.3 2.9 3.3 4.1 4.2 4.1 4.2 4.2 4.2 4.3 1

 2 Fixed nonresidential investment 2.4 2.0 2.4 3.0 3.8 4.1 3.9 4.0 4.1 4.2 4.1 2

 3 Net acquisition of financial assets -251.1 50.3 468.1 -15.8 316.5 56.3 705.1 154.6 57.1 -691.4 -56.0 3

 4 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.1 -0.1 0.1 -0.2 4

 5 Reserves at Federal Reserve 45.1 66.7 360.2 -72.2 309.3 -59.3 491.9 -9.7 76.7 -796.0 -65.8 5

 6 Federal funds and security repos 0.1 20.3 31.7 58.2 -1.2 41.1 92.7 111.7 -37.8 -2.5 -73.4 6

 7 Credit market instruments -287.5 -24.4 42.5 5.8 -7.2 56.4 67.0 54.6 -3.0 106.9 65.7 7

 8 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Treasury securities 22.0 3.5 -0.5 16.1 -9.6 -10.5 -2.9 -3.0 -20.7 -15.5 -3.2 9

 10 Agency- and GSE-backed securities -19.3 -4.8 4.0 1.5 -6.7 -4.9 -11.5 -6.3 -1.9 0.1 -4.7 10

 11 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Corporate and foreign bonds -157.8 -9.4 -1.4 -6.2 -34.1 0.9 16.6 1.2 -7.7 -6.4 -25.9 12

 13 Depository institution loans n.e.c. -126.0 -11.3 42.9 -3.7 43.8 63.6 57.1 54.9 22.1 120.4 100.2 13

 14 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Mortgages -6.4 -2.5 -2.6 -1.9 -0.6 7.3 7.8 7.8 5.1 8.3 -0.6 15

 16 Corporate equities 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Security credit -4.5 3.1 18.8 -7.3 2.5 3.8 -2.9 -5.9 12.5 11.4 -0.2 17

 18 Miscellaneous assets -4.4 -15.3 15.0 -0.3 13.1 14.4 56.3 3.7 8.8 -11.3 17.8 18

 19 Net increase in liabilities -76.0 32.4 469.0 -4.0 263.2 1.4 574.5 158.1 -11.8 -715.1 -33.1 19

 20 Net interbank liabilities -152.2 30.7 504.6 -1.9 175.1 -127.5 165.6 36.6 -214.3 -497.9 -51.5 20

 21 To foreign banks -161.7 27.0 518.8 -51.2 159.2 -125.6 156.1 64.0 -232.5 -490.1 -70.0 21

 22 To domestic banks 9.5 3.7 -14.2 49.3 15.9 -1.9 9.5 -27.4 18.2 -7.8 18.5 22

 23 Checkable deposits 2.6 5.7 23.7 16.2 30.8 45.2 36.3 50.0 -0.0 94.4 25.6 23

 24 Small time and savings deposits 4.4 5.8 13.2 13.8 27.7 -5.9 -23.4 11.1 9.4 -20.5 167.5 24

 25 Large time deposits 148.0 -46.5 -163.1 -16.2 71.1 39.7 233.4 26.3 91.3 -192.2 -167.3 25

 26 Federal funds and security repos 63.5 54.8 54.4 20.6 -12.3 58.6 153.2 44.9 44.9 -8.8 -21.5 26

 27 Acceptance liabilities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Foreign direct investment in U.S. 16.6 12.4 26.0 -0.8 4.0 3.1 3.7 2.7 -6.1 12.1 2.8 28

 29 Miscellaneous liabilities -158.9 -30.5 10.1 -35.7 -33.2 -11.7 5.7 -13.6 63.2 -102.2 11.4 29

 30 Investment by funding corporations -73.5 -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 30

 31 Other -85.3 1.1 43.8 -23.9 -30.7 8.6 4.2 -1.4 35.0 -3.7 39.3 31

 32 Discrepancy 175.1 -17.6 1.4 12.2 -53.0 -54.8 -130.4 3.6 -68.8 -23.6 23.1 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).
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F.113 Banks in U.S.-Affiliated Areas (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets -7.3 -14.8 -4.1 0.0 8.8 7.3 -12.8 9.9 -11.8 43.7 -24.5 3

 4 Credit market instruments -2.8 -19.3 -4.9 -0.1 0.3 -5.6 -0.3 -10.3 -7.0 -4.6 -16.3 4

 5 Treasury securities -0.7 0.6 -0.0 -0.6 0.7 0.2 0.6 -1.9 1.7 0.3 0.6 5

 6 Agency- and GSE-backed securities -3.9 -7.7 -8.0 -2.2 -0.8 -0.1 -0.4 0.1 -0.0 -0.2 -1.0 6

 7 Municipal securities 0.9 -0.9 0.9 -0.8 0.9 -0.9 -0.6 -2.8 -0.3 0.3 0.2 7

 8 Corporate and foreign bonds 1.5 -1.4 3.6 1.0 0.6 -0.4 2.5 -0.6 -2.3 -1.4 0.1 8

 9 Depository institution loans n.e.c. -0.3 -3.3 1.1 1.0 1.3 -2.3 -0.6 -4.4 -2.8 -1.3 -5.7 9

 10 Home mortgages -0.3 -2.5 -2.4 2.3 -1.1 -1.5 -2.2 -0.3 -2.7 -1.0 -3.6 10

 11 Commercial mortgages -0.0 -4.0 -0.1 -0.8 -1.4 -0.5 0.4 -0.5 -0.6 -1.3 -6.7 11

 12 Miscellaneous assets -4.5 4.5 0.8 0.2 8.6 12.8 -12.5 20.3 -4.8 48.4 -8.2 12

 13 Net increase in liabilities -1.1 -14.8 -3.1 -0.1 8.5 7.1 -10.1 11.2 -14.8 41.9 -21.2 13

 14 Net interbank liabilities -1.0 0.9 -1.2 -0.4 0.2 -0.6 -3.2 -1.4 2.6 -0.5 -1.7 14

 15 Checkable deposits 1.4 0.5 2.8 2.5 6.3 5.2 -3.5 5.2 -3.3 22.5 -1.7 15

 16 Small time and savings deposits -2.9 -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 16

 17 Large time deposits -2.9 -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 17

 18 Miscellaneous liabilities 4.3 -5.9 -3.9 -2.0 -3.0 -1.6 2.1 1.7 -10.5 0.2 -3.4 18

 19 Discrepancy 6.2 -0.0 1.0 -0.1 -0.3 -0.2 2.8 1.2 -3.0 -1.8 3.3 19

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

F.114 Credit Unions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 6.4 8.4 10.1 12.0 11.8 7.2 6.5 7.2 7.5 7.5 7.3 1

 2 Fixed nonresidential investment 3.1 2.5 2.5 2.8 3.0 3.2 3.1 3.2 3.3 3.3 3.3 2

 3 Net acquisition of financial assets 61.0 76.0 53.8 43.3 33.2 63.0 103.9 42.0 43.2 62.7 99.5 3

 4 Reserves at Federal Reserve 27.5 10.0 11.1 1.2 -5.7 -2.5 55.5 -58.1 -33.9 26.6 55.6 4

 5 Federal funds and security repos 0.0 -0.1 15.9 -6.2 -9.6 -0.0 6.7 4.1 0.9 -11.8 7.1 5

 6 Credit market instruments 34.1 24.9 38.6 47.0 50.2 60.2 48.5 75.6 82.0 34.8 52.2 6

 7 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Treasury securities 5.4 5.9 -2.5 1.7 -0.2 2.5 5.2 3.6 19.7 -18.6 2.6 8

 9 Agency- and GSE-backed securities 27.8 40.9 30.6 14.9 2.2 -11.7 -15.3 -4.4 -10.4 -16.7 -20.7 9

 10 Municipal securities 0.0 0.0 3.2 1.0 0.3 -0.8 -0.1 1.6 0.2 -4.8 0.6 10

 11 Corporate and foreign bonds -6.7 -15.7 -0.3 0.3 2.2 1.0 2.6 0.2 -3.0 4.3 5.1 11

 12 Depository institution loans n.e.c. 1.3 3.5 6.6 0.1 5.1 5.1 1.2 1.8 11.1 6.3 6.6 12

 13 Home mortgages 5.4 0.9 4.5 8.3 18.6 26.9 22.4 25.7 34.8 24.4 18.4 13

 14 Consumer credit 0.9 -10.7 -3.4 20.6 21.9 37.2 32.4 47.1 29.5 39.8 39.6 14

 15 Mutual fund shares -0.7 0.2 0.3 0.4 -0.1 -0.1 0.1 -0.2 -0.3 0.1 -0.4 15

 16 Miscellaneous assets 0.2 41.1 -12.1 0.8 -1.6 5.3 -6.8 20.5 -5.5 13.0 -14.9 16

 17 Net increase in liabilities 70.3 63.8 19.0 38.8 38.2 51.5 81.5 24.2 38.2 62.0 77.6 17

 18 Net interbank liabilities -1.6 38.1 -21.9 -13.8 2.2 0.7 35.9 -24.6 -2.6 -6.1 34.1 18

 19 Shares/deposits 72.0 34.3 41.5 51.3 32.6 41.2 49.7 24.8 27.6 62.6 41.9 19

 20 Checkable 11.6 5.5 10.7 10.7 7.9 12.2 40.7 -9.3 -4.5 21.9 41.5 20

 21 Small time and savings 43.4 26.1 27.4 34.4 20.1 25.0 0.5 38.4 26.5 34.4 -7.3 21

 22 Large time 17.0 2.8 3.4 6.2 4.7 4.1 8.5 -4.3 5.6 6.3 7.7 22

 23 Federal funds and security repos -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 23

 24 Other loans and advances -14.1 -0.4 -2.0 0.9 1.9 8.4 1.7 10.2 12.7 9.0 -2.0 24

 25 Miscellaneous liabilities 14.7 -8.3 1.3 0.3 1.5 1.2 -5.8 13.8 0.4 -3.6 3.5 25

 26 Discrepancy 12.6 -6.4 -27.2 4.8 13.8 -7.5 -19.0 -13.8 -0.8 3.5 -18.0 26
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F.115 Property-Casualty Insurance Companies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving less net capital transfers paid (1) 41.0 51.3 31.2 47.8 51.2 46.9 51.3 49.1 46.4 40.8 35.1 1

 2 Fixed nonresidential investment 18.8 15.8 16.7 19.1 19.8 20.8 20.2 20.6 21.1 21.1 21.3 2

 3 Net acquisition of financial assets 40.1 -38.2 26.7 27.0 44.0 34.5 15.8 34.1 57.7 30.5 14.2 3

 4 Checkable deposits and currency -0.3 5.0 -8.5 12.3 -6.7 5.9 14.9 5.5 3.5 -0.4 -0.6 4

 5 Money market fund shares -3.2 -4.0 -5.6 2.2 -2.2 -1.9 -10.0 5.3 1.5 -4.3 -0.3 5

 6 Security repurchase agreements 0.1 -0.7 -2.1 0.0 0.0 0.0 -0.7 0.6 0.3 -0.2 -0.0 6

 7 Credit market instruments 33.3 3.9 36.2 1.0 30.9 15.8 -14.6 14.7 42.0 21.2 -15.1 7

 8 Open market paper -9.3 -1.9 0.9 -1.4 0.7 -0.1 -3.4 2.8 1.3 -1.2 -0.1 8

 9 Treasury securities 22.9 3.2 4.6 -6.7 6.4 5.9 -5.5 13.7 12.1 3.4 -1.8 9

 10 Agency- and GSE-backed securities 1.9 -0.4 6.9 -8.4 -4.9 -4.2 -6.2 -5.7 -1.9 -3.1 -1.9 10

 11 Municipal securities -12.6 -21.0 -17.4 -2.9 -1.7 -4.7 -10.4 -9.2 2.2 -1.6 -5.7 11

 12 Corporate and foreign bonds 30.8 24.3 40.4 19.6 28.1 17.0 9.5 11.0 26.0 21.3 -7.6 12

 13 Commercial mortgages -0.5 -0.3 0.8 0.7 2.3 2.0 1.3 2.1 2.3 2.4 1.9 13

 14 Corporate equities -2.8 -20.9 2.9 4.6 3.7 2.6 2.4 -12.6 3.7 16.8 -2.4 14

 15 Mutual fund shares 0.5 -0.1 -0.7 1.8 1.0 1.4 1.3 1.3 1.3 1.6 2.4 15

 16 Trade receivables -3.7 0.8 3.4 4.8 3.3 5.5 19.3 15.2 -2.0 -10.3 21.3 16

 17 U.S. direct investment abroad 16.3 -22.2 1.1 0.2 14.1 5.2 3.2 4.0 7.5 6.0 9.1 17

 18 Net increase in liabilities -4.3 2.9 16.8 -16.7 19.5 1.8 -7.9 20.2 17.6 -22.8 -15.0 18

 19 Security repurchase agreements -1.7 0.8 -1.1 0.4 1.4 1.0 1.0 1.3 0.8 0.8 0.5 19

 20 Corporate equity issues -5.3 -12.7 -10.7 -14.5 -7.6 -16.9 -17.9 -9.4 -22.2 -17.9 -15.6 20

 21 Taxes payable (net) 5.3 5.6 -4.4 3.8 19.1 1.9 7.3 -2.8 3.0 0.4 1.4 21

 22 Foreign direct investment in U.S. 2.4 2.8 -2.2 -5.3 6.8 0.9 -2.1 -3.1 9.3 -0.2 9.9 22

 23 Miscellaneous liabilities -5.0 6.3 35.2 -1.0 -0.3 14.8 3.8 34.3 26.8 -5.8 -11.2 23

 24 Investment by parent companies 0.0 0.0 0.0 -6.8 -6.0 0.1 -2.2 1.9 -0.2 0.9 -5.5 24

 25 Policy payables -5.0 6.3 35.2 5.8 5.7 14.7 6.0 32.4 27.1 -6.6 -5.6 25

 26 Discrepancy -22.2 76.6 4.6 -15.0 6.8 -6.6 7.4 14.6 -14.8 -33.6 -15.5 26

(1) Net capital transfers paid from table F.9, line 51.
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F.116 Life Insurance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 13.0 16.2 7.2 12.6 7.6 17.7 16.9 17.5 18.3 18.1 18.3 1

 2 Fixed nonresidential investment 13.5 11.5 12.3 14.0 14.6 15.3 14.9 15.2 15.5 15.6 15.8 2

 3 Net acquisition of financial assets 116.4 181.5 229.0 127.0 102.7 213.4 225.7 244.8 143.6 239.5 276.3 3

 4 Checkable deposits and currency -32.1 1.0 2.0 2.7 -9.2 3.6 14.0 -5.9 15.1 -8.5 -2.2 4

 5 Money market fund shares -5.5 -12.7 7.9 -1.4 -5.9 6.1 -1.1 -1.2 6.4 20.5 -4.5 5

 6 Security repurchase agreements 2.2 0.7 -0.8 -1.6 -0.0 0.0 -2.5 -2.3 0.3 4.5 -5.5 6

 7 Credit market instruments 139.8 151.6 125.3 74.3 77.4 99.7 117.7 128.9 76.9 75.3 142.2 7

 8 Open market paper 11.5 -8.9 -11.2 13.9 3.2 -4.6 -3.2 -16.9 -18.4 20.2 14.6 8

 9 Treasury securities 27.7 23.2 18.8 5.5 -12.2 14.3 13.4 13.8 13.6 16.2 41.5 9

 10 Agency- and GSE-backed securities 5.8 4.0 -1.6 -13.5 -6.8 -15.0 -12.5 -10.1 -15.8 -21.5 -2.1 10

 11 Municipal securities 26.1 39.2 9.4 9.7 10.1 6.2 5.1 9.6 6.8 3.3 1.3 11

 12 Corporate and foreign bonds 97.6 102.9 87.1 45.0 60.8 69.3 92.7 109.9 63.2 11.3 65.0 12

 13 Other loans and advances -12.6 -0.2 7.9 1.8 3.5 8.0 8.0 5.5 10.4 7.9 -3.4 13

 14 Mortgages -16.3 -8.6 15.0 11.9 18.8 21.6 14.2 17.1 17.0 38.0 25.3 14

 15 Corporate equities 33.4 12.7 33.2 16.1 13.7 28.1 29.7 70.7 2.5 9.4 44.1 15

 16 Mutual fund shares 0.0 33.9 5.6 0.4 1.1 1.3 1.3 1.3 1.3 1.3 1.3 16

 17 U.S. direct investment abroad 1.6 1.9 3.3 5.2 1.2 1.6 -0.3 -1.8 4.5 3.9 8.1 17

 18 Miscellaneous assets -23.1 -7.6 52.4 31.2 24.4 73.0 67.0 55.1 36.7 133.1 92.8 18

 19 Equity in FHLB -0.3 -0.0 -0.8 0.1 1.0 0.4 0.2 0.6 0.4 0.2 0.8 19

 20 Deferred and unpaid life ins. premiums -4.9 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 20

 21 Other -17.8 -10.2 53.6 30.6 20.4 71.4 62.6 49.2 39.0 134.9 87.4 21

 22 Net increase in liabilities 32.2 145.0 203.7 90.4 87.1 174.4 182.9 214.7 119.2 180.8 244.4 22

 23 Security repurchase agreements -0.5 -2.2 0.1 3.1 -0.8 1.0 0.8 -0.5 1.9 1.9 3.3 23

 24 Corporate equity issues -0.9 -4.8 -11.5 -9.9 -9.2 -14.9 -14.3 -11.8 -17.6 -16.0 -10.9 24

 25 Other loans and advances -6.6 -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 25

 26 Life insurance reserves 26.3 13.6 79.9 -12.2 29.8 55.5 41.8 52.1 55.0 73.1 89.1 26

 27 Pension entitlements (2) -80.0 72.1 85.7 80.5 53.8 70.9 52.5 55.2 88.9 87.0 44.9 27

 28 Taxes payable (net) -7.0 2.6 5.2 -4.6 -2.3 -1.9 5.0 -1.0 -3.4 -8.3 10.0 28

 29 Foreign direct investment in U.S. 11.1 6.3 -5.4 1.4 5.1 8.9 5.8 9.2 15.5 5.2 12.5 29

 30 Miscellaneous liabilities 89.9 60.7 48.0 27.4 3.0 42.4 83.7 103.4 -35.0 17.6 81.1 30

 31 Investment by parent companies 9.3 22.2 9.3 10.3 3.4 0.8 0.9 2.3 -0.3 0.2 1.1 31

 32 Other reserves (3) 8.4 17.1 14.8 -1.8 0.4 5.8 15.0 12.7 1.7 -6.2 13.9 32

 33 Unallocated insurance contracts 114.3 13.9 9.9 -1.9 1.3 23.1 27.6 35.0 3.2 26.4 27.0 33

 34 Other -42.1 7.4 14.0 20.7 -2.1 12.8 40.1 53.3 -39.6 -2.7 39.1 34

 35 Discrepancy -84.7 -31.8 -30.3 -38.0 -22.5 -36.6 -40.8 -27.8 -21.7 -56.3 -29.3 35

(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 33.

(3) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
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F.116.g Life Insurance Companies: General Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 92.1 126.9 176.4 56.5 84.6 155.6 200.8 89.8 120.7 211.0 -78.3 1

 2 Checkable deposits and currency -27.4 -2.0 3.0 1.4 -4.8 3.5 13.8 -6.1 14.9 -8.7 -4.1 2

 3 Money market fund shares -5.5 -12.7 7.9 -1.4 -5.9 6.1 -1.1 -1.2 6.4 20.5 -4.5 3

 4 Security repurchase agreements 2.2 0.7 -0.8 -1.6 -0.0 0.0 -2.5 -2.3 0.3 4.5 -5.5 4

 5 Credit market instruments 139.0 111.7 122.4 37.9 70.1 99.2 118.0 129.1 77.0 72.6 -71.0 5

 6 Open market paper 15.5 -12.0 -12.6 15.9 1.4 -6.0 -4.6 -18.4 -19.9 18.7 11.4 6

 7 Treasury securities 26.1 15.2 10.3 1.3 -11.3 9.1 8.6 9.0 8.8 10.0 5.9 7

 8 Agency- and GSE-backed securities 2.7 -5.6 -1.5 -4.9 -6.6 -3.3 -0.6 1.8 -3.9 -10.7 -15.4 8

 9 Municipal securities 25.9 39.5 9.2 9.0 9.2 5.3 4.2 8.7 5.9 2.4 -2.9 9

 10 Corporate and foreign bonds 93.4 83.4 93.3 1.6 57.0 66.0 89.5 106.7 60.0 7.8 -40.0 10

 11 Other loans and advances -12.6 -0.2 7.9 1.9 3.5 8.0 8.0 5.5 10.4 7.9 -22.6 11

 12 Mortgages -12.0 -8.6 15.8 13.1 16.9 20.2 12.8 15.7 15.6 36.5 -7.4 12

 13 Corporate equities 1.5 4.0 0.3 -2.5 0.8 5.5 2.7 8.7 1.3 9.2 3.8 13

 14 Mutual fund shares -0.1 -0.1 0.7 0.2 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S. direct investment abroad 1.6 1.9 3.3 5.2 1.2 1.6 -0.3 -1.8 4.5 3.9 8.1 15

 16 Miscellaneous assets -19.2 23.4 39.7 17.3 23.4 39.7 70.2 -36.6 16.3 108.9 -5.1 16

 17 Net increase in liabilities 12.4 91.2 151.2 17.8 68.7 116.0 157.3 58.9 96.3 151.6 -110.2 17

 18 Security repurchase agreements -0.5 -2.2 0.1 3.1 -0.8 1.0 0.8 -0.5 1.9 1.9 3.3 18

 19 Corporate equity issues -0.9 -4.8 -11.5 -9.9 -9.2 -14.9 -14.3 -11.8 -17.6 -16.0 -10.9 19

 20 Other loans and advances -6.6 -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 20

 21 Life insurance reserves 36.8 32.0 73.0 -6.2 28.3 46.1 32.4 42.7 45.6 63.8 -58.1 21

 22 Pension entitlements (1) -123.1 21.0 36.4 9.7 36.9 37.6 17.1 24.9 56.1 52.2 -99.0 22

 23 Taxes payable (net) -7.0 2.6 5.2 -4.6 -2.3 -1.9 5.0 -1.0 -3.4 -8.3 10.0 23

 24 Foreign direct investment in U.S. 11.1 6.3 -5.4 1.4 5.1 8.9 5.8 9.2 15.5 5.2 12.5 24

 25 Miscellaneous liabilities 102.7 39.5 51.6 19.5 2.8 26.7 102.8 -12.7 -15.7 32.5 17.6 25

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 25).

F.116.s Life Insurance Companies: Separate Accounts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 24.3 54.6 52.6 70.5 18.1 57.8 24.9 155.0 23.0 28.5 354.6 1

 2 Checkable deposits and currency -4.7 3.0 -0.9 1.3 -4.4 0.2 0.2 0.2 0.2 0.2 1.9 2

 3 Credit market instruments 0.8 39.9 3.0 36.4 7.3 0.5 -0.3 -0.2 -0.1 2.7 213.3 3

 4 Open market paper -4.0 3.1 1.4 -2.0 1.8 1.5 1.4 1.5 1.5 1.5 3.2 4

 5 Treasury securities 1.6 8.0 8.5 4.2 -0.9 5.2 4.8 4.8 4.8 6.1 35.5 5

 6 Agency- and GSE-backed securities 3.1 9.6 -0.0 -8.5 -0.2 -11.7 -11.9 -11.9 -11.9 -10.9 13.4 6

 7 Municipal securities 0.2 -0.3 0.2 0.7 0.9 0.9 0.9 0.9 0.9 0.9 4.3 7

 8 Corporate and foreign bonds 4.2 19.5 -6.2 43.3 3.8 3.3 3.2 3.2 3.2 3.5 104.9 8

 9 Other loans and advances -0.0 -0.0 -0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 19.2 9

 10 Mortgages -4.3 -0.0 -0.8 -1.1 1.9 1.4 1.3 1.4 1.4 1.5 32.8 10

 11 Corporate equities 31.9 8.6 32.9 18.6 12.9 22.6 27.0 62.0 1.2 0.2 40.3 11

 12 Mutual fund shares 0.1 34.0 4.9 0.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 12

 13 Miscellaneous assets -3.8 -31.0 12.7 13.9 1.0 33.3 -3.3 91.7 20.4 24.2 97.9 13

 14 Net increase in liabilities 19.8 53.8 52.5 72.7 18.5 58.4 25.6 155.8 22.9 29.2 354.6 14

 15 Life insurance reserves -10.5 -18.4 6.9 -5.9 1.4 9.4 9.4 9.4 9.4 9.4 147.2 15

 16 Pension entitlements (1) 43.1 51.0 49.2 70.8 16.8 33.3 35.4 30.4 32.8 34.7 143.9 16

 17 Miscellaneous liabilities -12.8 21.1 -3.6 7.8 0.2 15.7 -19.1 116.1 -19.2 -14.9 63.5 17

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are included in miscellaneous liabilities (line 17).
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F.117 Private and Public Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 2

 3 Net acquisition of financial assets (2) 478.2 524.4 412.7 416.9 444.7 477.4 464.0 497.8 449.6 498.2 473.4 3

 4 Checkable deposits and currency -3.1 2.7 5.9 -1.6 0.1 1.6 1.0 6.3 0.2 -1.1 2.1 4

 5 Time and savings deposits 3.8 4.7 3.2 -6.8 1.5 2.6 0.5 2.0 -1.0 8.9 7.3 5

 6 Money market fund shares -13.0 -7.9 16.9 -20.5 4.8 1.6 -8.6 11.7 -10.8 14.4 -4.1 6

 7 Security repurchase agreements 0.1 0.1 0.1 -0.6 0.1 0.3 0.1 0.2 -0.1 1.0 0.8 7

 8 Credit market instruments -66.1 153.8 106.6 165.3 139.6 85.1 16.2 123.8 149.5 50.9 -183.0 8

 9 Open market paper 0.9 2.5 3.9 -8.2 -1.0 3.6 5.2 0.6 1.3 7.1 14.1 9

 10 Treasury securities 64.9 52.0 59.6 69.4 61.5 46.4 30.2 31.1 56.2 68.2 -159.8 10

 11 Agency- and GSE-backed securities -10.3 8.0 16.0 35.1 20.6 -6.3 -10.6 25.3 3.7 -43.7 -44.8 11

 12 Corporate and foreign bonds -116.6 88.2 32.8 68.6 61.8 41.8 -5.6 63.2 84.6 25.2 12.1 12

 13 Mortgages -5.2 2.4 -5.2 0.1 -4.1 0.3 -1.5 4.5 4.3 -6.1 -4.5 13

 14 Corporate equities -80.9 -50.5 -124.7 -100.0 -153.3 -177.7 -167.8 -177.0 -191.6 -174.4 -202.7 14

 15 Mutual fund shares 50.4 21.6 -56.9 -46.6 42.8 4.8 15.5 2.2 8.3 -6.7 17.5 15

 16 Miscellaneous assets 587.1 399.9 461.5 427.7 409.2 559.1 607.2 528.7 495.2 605.2 835.6 16

 17 Unallocated insurance contracts (3) 114.3 13.9 9.9 -1.9 1.3 23.1 27.6 35.0 3.2 26.4 27.0 17

 18 Contributions receivable -8.6 15.4 3.0 -12.3 -0.6 0.9 -0.8 1.9 3.6 -1.2 6.6 18

 19 Nonmarketable Treasury securities (4) 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 19

 20 Claims of pension fund on sponsor (5) 402.3 275.0 333.1 370.2 279.1 413.1 432.0 362.2 367.4 490.9 849.0 20

 21 Other 17.2 29.9 44.8 31.3 31.2 53.2 73.6 76.9 40.9 21.3 24.5 21

 22 Pension entitlements (liabilities) (6) 478.2 524.3 412.6 417.1 444.9 477.6 464.2 498.1 449.9 498.4 473.6 22

 Memo:

 23 Household retirement assets (7) 610.1 790.4 864.0 736.3 709.2 761.0 725.3 877.2 902.6 538.7 ND 23

 24 Defined benefit plans 348.8 352.4 351.9 321.8 311.5 327.1 326.6 327.3 326.9 327.6 326.7 24

 25 Defined contribution plans 129.4 172.0 60.8 95.1 133.3 150.3 137.4 170.5 122.8 170.5 146.8 25

 26 Individual retirement plans (IRAs) (8) 207.0 213.4 380.0 261.0 229.9 240.5 223.6 345.8 365.8 26.8 ND 26

 27 Annuities at life insurance companies (9) -75.1 52.6 71.2 58.4 34.5 43.1 37.8 33.6 87.1 13.7 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) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(4) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(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.226 for a sectoral distribution of IRA accounts.

(9) Annuities held in IRAs at life insurance companies are excluded. They are included in line 26.
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36 Z.1, June 11, 2015

F.118 Private Pension Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2

 3 Net acquisition of financial assets (2) 153.7 177.9 95.7 114.0 127.8 135.0 126.2 161.8 107.2 144.8 147.4 3

 4 Checkable deposits and currency -2.8 2.1 5.6 -1.7 0.1 1.2 1.0 3.4 0.1 0.1 1.5 4

 5 Time and savings deposits 2.9 -0.6 1.6 -3.9 -0.3 1.0 1.8 3.0 -1.2 0.2 2.8 5

 6 Money market fund shares -9.6 -10.2 16.5 -17.1 2.2 -0.7 -6.1 11.4 -8.3 0.3 -7.0 6

 7 Security repurchase agreements 0.2 -0.2 0.0 -0.3 -0.1 0.1 0.2 0.3 -0.1 0.1 0.3 7

 8 Credit market instruments 9.5 120.6 73.6 146.6 50.7 33.1 -8.2 78.8 45.5 16.3 51.1 8

 9 Open market paper 1.7 -2.0 2.4 -4.9 -3.3 1.8 4.1 2.7 -0.2 0.5 5.8 9

 10 Treasury securities 32.8 31.2 27.0 44.4 36.4 19.6 14.8 18.6 25.5 19.3 42.6 10

 11 Agency- and GSE-backed securities -6.5 6.5 4.3 22.1 15.4 -1.1 -5.4 16.4 -6.7 -8.4 -4.5 11

 12 Corporate and foreign bonds -16.0 82.1 44.5 83.8 5.5 13.0 -18.8 37.7 23.0 10.2 10.4 12

 13 Mortgages -2.4 2.8 -4.6 1.2 -3.4 -0.2 -2.9 3.5 4.0 -5.3 -3.1 13

 14 Corporate equities -91.2 22.7 -60.2 -18.5 4.2 -6.8 16.3 2.2 -27.3 -18.6 -20.3 14

 15 Mutual fund shares 51.7 35.0 8.3 -26.2 31.9 21.0 28.0 22.9 22.0 10.9 27.6 15

 16 Miscellaneous assets 192.9 8.6 50.2 35.2 39.0 86.2 93.1 39.7 76.5 135.4 91.4 16

 17 Unallocated insurance contracts (3) 90.9 -0.3 20.7 5.0 7.5 17.8 23.1 22.1 6.9 19.0 19.6 17

 18 Contributions receivable -8.6 15.4 3.0 -12.3 -0.6 0.9 -0.8 1.9 3.6 -1.2 6.6 18

 19 Claims of pension fund on sponsor (4) 82.8 -20.7 -16.8 8.4 12.1 23.1 8.2 -47.1 31.9 99.3 33.1 19

 20 Other 27.8 14.2 43.4 34.1 20.0 44.5 62.6 62.8 34.1 18.3 32.1 20

 21 Pension entitlements (liabilities) (5) 153.7 177.9 95.6 114.0 127.8 135.1 126.3 161.8 107.2 144.9 147.5 21

 Memo:

 Net acquisition of financial assets (6)

 22 Defined benefit plans 57.4 47.5 46.6 24.8 18.8 30.8 30.8 30.8 30.8 30.8 30.8 22

 23 Defined contribution plans 96.4 130.4 49.0 89.2 109.0 104.2 95.4 131.0 76.4 114.0 116.6 23

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.118.b and F.118.c.
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Z.1, June 11, 2015 37

F.118.b Private Pension Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (1) 57.4 47.5 46.6 24.8 18.8 30.8 30.8 30.8 30.8 30.8 30.8 1

 2 Checkable deposits and currency -2.6 2.7 1.8 -1.0 -0.2 0.4 0.6 0.9 -0.4 0.5 1.0 2

 3 Time and savings deposits 3.4 -0.2 1.2 -3.3 -0.7 0.8 1.8 2.9 -1.3 -0.2 3.0 3

 4 Money market fund shares 0.4 -5.1 -0.3 -4.0 -0.8 -0.2 -0.7 3.3 -1.5 -2.0 -2.0 4

 5 Security repurchase agreements 0.2 -0.2 0.0 -0.3 -0.1 0.1 0.2 0.3 -0.1 0.1 0.3 5

 6 Credit market instruments 4.1 71.7 78.0 83.8 35.2 20.7 -3.7 65.8 19.1 1.5 33.6 6

 7 Open market paper 3.2 -1.0 1.1 -3.6 -3.8 1.3 2.2 2.8 -1.3 1.3 2.9 7

 8 Treasury securities 12.7 7.4 19.3 15.9 24.8 11.9 10.1 14.6 16.6 6.2 26.3 8

 9 Agency- and GSE-backed securities -6.6 2.7 14.3 11.0 9.8 0.8 -1.1 12.4 -4.1 -4.1 -0.9 9

 10 Corporate and foreign bonds -3.3 61.4 45.8 60.7 6.9 6.9 -13.0 33.5 5.8 1.5 6.6 10

 11 Mortgages -2.0 1.2 -2.4 -0.1 -2.4 -0.2 -1.9 2.6 2.0 -3.4 -1.4 11

 12 Corporate equities -41.8 -4.1 -65.4 -11.0 -21.7 -22.0 -4.8 -22.6 -24.4 -36.1 -36.9 12

 13 Mutual fund shares -8.0 -10.8 12.5 -46.4 -7.9 -11.1 -1.6 -13.3 -8.4 -21.0 -16.2 13

 14 Miscellaneous assets 101.8 -6.2 18.8 7.1 14.9 42.0 39.1 -6.6 47.8 87.8 48.1 14

 15 Unallocated insurance contracts (2) -2.4 -8.2 12.7 -9.5 -0.3 2.3 1.2 4.8 4.5 -1.5 2.8 15

 16 Contributions receivable -5.3 13.4 1.7 -12.4 -0.8 -0.3 -0.2 2.1 -0.5 -2.4 5.0 16

 17 Claims of pension fund on sponsor (3) 82.8 -20.7 -16.8 8.4 12.1 23.1 8.2 -47.1 31.9 99.3 33.1 17

 18 Other 26.8 9.3 21.2 20.6 4.0 17.0 29.9 33.6 12.0 -7.6 7.2 18

 19 Net increase in pension entitlements (liabilities) (4) 57.3 47.5 46.6 24.9 18.8 30.8 30.8 30.8 30.8 30.8 30.8 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

F.118.c Private Pension Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 96.4 130.4 49.0 89.2 109.0 104.2 95.4 131.0 76.4 114.0 116.6 1

 2 Checkable deposits and currency -0.1 -0.5 3.8 -0.7 0.4 0.8 0.5 2.5 0.5 -0.3 0.5 2

 3 Time and savings deposits -0.5 -0.4 0.4 -0.6 0.4 0.2 0.0 0.2 0.1 0.4 -0.2 3

 4 Money market fund shares -9.9 -5.1 16.8 -13.1 2.9 -0.5 -5.4 8.1 -6.7 2.2 -5.0 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 5.4 48.9 -4.4 62.8 15.4 12.4 -4.5 13.0 26.4 14.7 17.6 6

 7 Open market paper -1.4 -1.0 1.4 -1.2 0.5 0.5 2.0 -0.1 1.0 -0.8 2.9 7

 8 Treasury securities 20.0 23.9 7.7 28.4 11.7 7.7 4.8 4.0 8.9 13.1 16.3 8

 9 Agency- and GSE-backed securities 0.1 3.8 -10.0 11.2 5.6 -1.8 -4.4 4.0 -2.6 -4.3 -3.6 9

 10 Corporate and foreign bonds -12.7 20.7 -1.2 23.2 -1.4 6.1 -5.8 4.2 17.2 8.7 3.8 10

 11 Mortgages -0.5 1.6 -2.2 1.3 -1.0 -0.0 -1.0 0.9 2.0 -1.9 -1.7 11

 12 Corporate equities -49.3 26.8 5.2 -7.6 25.9 15.1 21.1 24.8 -2.9 17.5 16.7 12

 13 Mutual fund shares 59.7 45.8 -4.2 20.2 39.8 32.0 29.7 36.1 30.4 31.9 43.8 13

 14 Miscellaneous assets 91.1 14.8 31.4 28.1 24.1 44.2 54.0 46.4 28.7 47.6 43.3 14

 15 Unallocated insurance contracts (2) 93.3 7.9 8.0 14.5 7.8 15.5 21.9 17.3 2.4 20.4 16.8 15

 16 Contributions receivable -3.3 2.0 1.3 0.1 0.2 1.1 -0.6 -0.2 4.1 1.2 1.7 16

 17 Other 1.0 4.9 22.2 13.5 16.0 27.5 32.7 29.2 22.2 26.0 24.9 17

 18 Net increase in pension entitlements (liabilities) 96.4 130.4 49.0 89.2 109.0 104.2 95.4 131.0 76.4 114.0 116.6 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
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38 Z.1, June 11, 2015

F.119 Federal Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (1) 93.7 102.1 113.0 102.0 109.9 115.8 108.0 103.8 121.6 130.0 106.6 1

 2 Credit market instruments 7.4 10.9 25.6 15.4 9.4 16.9 6.1 9.4 20.6 31.6 -236.7 2

 3 Treasury securities (2) 7.4 10.1 23.4 12.1 12.4 18.0 12.1 8.3 21.1 30.7 -237.8 3

 4 Agency- and GSE-backed securities 0.0 0.6 0.7 1.5 -1.7 -0.4 -2.9 0.7 -0.1 0.6 0.0 4

 5 Corporate and foreign bonds -0.0 0.2 1.4 1.7 -1.3 -0.7 -3.1 0.4 -0.4 0.4 1.1 5

 6 Corporate equities 8.8 5.4 -4.2 -4.1 9.1 4.2 7.2 -0.3 6.3 3.7 4.9 6

 7 Miscellaneous assets 77.5 85.9 91.6 90.7 91.4 94.7 94.7 94.7 94.7 94.7 338.4 7

 8 Nonmarketable Treasury securities (3) 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 8

 9 Claims of pension fund on sponsor (4) 15.6 20.2 20.8 50.3 -6.8 25.9 19.8 42.1 14.7 26.8 409.9 9

 10 Pension entitlements (liabilities) (5) 93.7 102.1 113.0 102.0 109.9 115.8 108.0 103.8 121.6 130.0 106.6 10

 Memo:

 Net acquisition of financial assets (6)

 11 Defined benefit plans 75.5 84.2 90.0 88.6 89.9 93.2 92.7 93.4 93.0 93.8 92.8 11

 12 Defined contibution plans 18.2 18.0 23.0 13.3 20.0 22.6 15.3 10.4 28.6 36.2 13.8 12

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes nonmarketable Treasury securities held by the Thrift Savings Plan.

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury.

(5) 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.

(6) Additional detail on defined benefit plans and defined contribution plans is available on tables F.119.b and F.119.c.
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F.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (2) 75.5 84.2 90.0 88.6 89.9 93.2 92.7 93.4 93.0 93.8 92.8 1

 2 Credit market instruments -0.8 -0.8 0.3 -0.0 -0.0 -0.5 -0.7 -0.4 -0.6 -0.3 0.1 2

 3 Treasury securities 0.4 -0.2 -0.3 -0.3 -0.0 -0.1 -0.2 -0.1 -0.1 -0.1 0.1 3

 4 Agency- and GSE-backed securities -0.7 -0.2 -0.2 -0.2 -0.0 -0.0 -0.1 -0.0 -0.0 -0.0 -0.5 4

 5 Corporate and foreign bonds -0.5 -0.3 0.8 0.4 0.1 -0.3 -0.5 -0.3 -0.4 -0.2 0.6 5

 6 Corporate equities -1.2 -0.9 -1.9 -2.0 -1.5 -1.0 -1.3 -0.8 -1.1 -0.6 -2.0 6

 7 Miscellaneous assets 77.5 85.9 91.6 90.7 91.4 94.7 94.7 94.7 94.7 94.7 94.7 7

 8 Nonmarketable Treasury securities (3) 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 8

 9 Claims of pension fund on sponsor (4) 15.6 20.2 20.8 50.3 -6.8 25.9 19.8 42.1 14.7 26.8 166.2 9

 10 Pension entitlements (liabilities) (5) 75.5 84.2 90.0 88.6 89.9 93.2 92.7 93.4 93.0 93.8 92.8 10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and

 disability fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

F.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 18.2 18.0 23.0 13.3 20.0 22.6 15.3 10.4 28.6 36.2 13.8 1

 2 Credit market instruments 8.2 11.6 25.2 15.4 9.4 17.4 6.8 9.9 21.2 31.9 -236.8 2

 3 Treasury securities (2) 7.0 10.4 23.7 12.4 12.5 18.2 12.2 8.4 21.2 30.8 -237.8 3

 4 Agency- and GSE-backed securities 0.7 0.8 0.9 1.7 -1.7 -0.4 -2.8 0.7 -0.0 0.6 0.5 4

 5 Corporate and foreign bonds 0.4 0.5 0.6 1.3 -1.4 -0.4 -2.7 0.7 -0.0 0.6 0.5 5

 6 Corporate equities 10.1 6.3 -2.3 -2.1 10.6 5.2 8.5 0.5 7.4 4.3 6.9 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 0.0 243.7 7

 8 Pension entitlements (liabilities) 18.2 18.0 23.0 13.3 20.0 22.6 15.3 10.4 28.6 36.2 13.8 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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F.120 State and Local Government Employee Retirement Funds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 1

 2 Fixed nonresidential investment 0.1 0.1 0.1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 2

 3 Net acquisition of financial assets (1) 230.8 244.4 204.0 201.0 207.0 226.5 229.8 232.2 220.9 223.3 219.4 3

 4 Checkable deposits and currency -0.4 0.5 0.3 0.1 -0.0 0.4 -0.1 2.9 0.1 -1.3 0.6 4

 5 Time and savings deposits 0.9 5.4 1.6 -2.8 1.8 1.6 -1.3 -1.0 0.2 8.7 4.6 5

 6 Money market fund shares -3.4 2.3 0.5 -3.4 2.6 2.3 -2.6 0.3 -2.5 14.1 2.9 6

 7 Security repurchase agreements -0.1 0.3 0.1 -0.2 0.1 0.2 -0.1 -0.1 0.0 0.8 0.5 7

 8 Credit market instruments -83.1 22.4 7.4 3.3 79.5 35.1 18.3 35.5 83.3 3.0 2.5 8

 9 Open market paper -0.9 4.5 1.5 -3.4 2.3 1.8 1.1 -2.1 1.5 6.6 8.4 9

 10 Treasury securities 24.8 10.7 9.2 12.9 12.6 8.8 3.3 4.2 9.6 18.2 35.3 10

 11 Agency- and GSE-backed securities -3.8 0.9 11.0 11.5 6.8 -4.8 -2.3 8.2 10.5 -35.8 -40.3 11

 12 Municipal securities 0.1 0.8 -0.6 0.2 0.8 -0.7 -1.5 -0.8 -0.6 0.1 -0.1 12

 13 Corporate and foreign bonds -100.5 5.9 -13.2 -16.9 57.7 29.5 16.3 25.1 62.0 14.7 0.7 13

 14 Mortgages -2.7 -0.4 -0.5 -1.1 -0.7 0.5 1.4 0.9 0.3 -0.7 -1.4 14

 15 Corporate equities 1.4 -78.6 -60.4 -77.4 -166.6 -175.1 -191.4 -178.9 -170.5 -159.5 -187.3 15

 16 Mutual fund shares -1.3 -13.4 -65.2 -20.4 10.8 -16.1 -12.5 -20.7 -13.7 -17.6 -10.2 16

 17 Miscellaneous assets 316.7 305.4 319.7 301.9 278.8 378.2 419.4 394.2 323.9 375.1 405.8 17

 18 Unallocated insurance contracts (2) 23.4 14.2 -10.7 -6.9 -6.2 5.3 4.5 12.9 -3.7 7.4 7.3 18

 19 Claims of pension fund on sponsor (3) 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 19

 20 Other -10.6 15.7 1.4 -2.9 11.2 8.7 10.9 14.1 6.8 2.9 -7.6 20

 21 Pension entitlements (liabilities) (4) 230.7 244.3 204.0 201.1 207.2 226.7 229.9 232.4 221.1 223.5 219.6 21

 Net acquisition of financial assets (5)

 22 Defined benefit plans 216.0 220.7 215.2 208.3 202.8 203.1 203.1 203.1 203.1 203.1 203.1 22

 23 Defined contibution plans 14.8 23.6 -11.2 -7.4 4.2 23.5 26.7 29.1 17.8 20.2 16.3 23

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of defined contribution funds held at life insurance companies.

(3) Unfunded defined benefit pension entitlements.

(4) Actuarial value of accrued pension entitlements. These liabilities are assets of the household sector.

(5) Additional detail on defined benefit plans and defined contribution plans is available on tables F.120.b and F.120.c.
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Z.1, June 11, 2015 41

F.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets (1) 216.0 220.7 215.2 208.3 202.8 203.1 203.1 203.1 203.1 203.1 203.1 1

 2 Checkable deposits and currency -0.0 0.5 0.2 -0.3 0.2 0.2 -0.1 -0.1 0.0 1.0 0.6 2

 3 Time and savings deposits 1.2 5.9 1.9 -2.5 1.5 1.8 -1.0 -0.9 0.4 8.9 5.3 3

 4 Money market fund shares -3.4 2.3 0.1 -3.0 1.8 2.2 -1.2 -1.1 0.5 10.7 6.3 4

 5 Security repurchase agreements -0.1 0.3 0.1 -0.2 0.1 0.2 -0.1 -0.1 0.0 0.8 0.5 5

 6 Credit market instruments -85.2 19.2 5.4 1.9 81.9 35.0 19.4 34.6 82.5 3.5 0.6 6

 7 Open market paper 0.5 5.7 1.8 -2.7 1.7 2.0 -1.1 -1.0 0.4 9.7 5.8 7

 8 Treasury securities 21.9 7.8 6.8 12.6 15.7 9.4 3.0 5.2 11.1 18.4 38.3 8

 9 Agency- and GSE-backed securities -3.2 1.1 11.8 12.0 7.1 -4.6 1.7 5.8 11.6 -37.4 -41.5 9

 10 Municipal securities 0.1 0.7 -0.6 -0.0 0.5 -0.8 -1.4 -0.9 -0.9 -0.0 -0.2 10

 11 Corporate and foreign bonds -101.9 4.4 -13.8 -18.9 57.7 28.5 15.9 24.6 59.9 13.4 -0.3 11

 12 Mortgages -2.7 -0.4 -0.5 -1.1 -0.7 0.5 1.4 0.9 0.3 -0.7 -1.4 12

 13 Corporate equities 17.8 -80.6 -63.1 -75.4 -178.2 -189.1 -208.9 -189.6 -190.0 -168.0 -189.1 13

 14 Mutual fund shares -7.6 -18.2 -59.8 -20.9 11.2 -19.5 -19.6 -17.8 -17.8 -22.8 -19.5 14

 15 Miscellaneous assets 293.4 291.2 330.5 308.8 284.2 372.3 414.7 378.1 327.5 368.9 398.4 15

 16 Claims of pension fund on sponsor (2) 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 16

 17 Other -10.6 15.7 1.4 -2.8 10.4 8.1 10.8 10.9 6.7 4.2 -7.6 17

 18 Pension entitlements (liabilities) (3) 215.9 220.7 215.2 208.4 202.9 203.3 203.3 203.3 203.3 203.3 203.3 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

F.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 14.8 23.6 -11.2 -7.4 4.2 23.5 26.7 29.1 17.8 20.2 16.3 1

 2 Checkable deposits and currency -0.4 0.0 0.2 0.4 -0.2 0.2 0.0 3.0 0.1 -2.3 0.0 2

 3 Time and savings deposits -0.3 -0.5 -0.4 -0.3 0.3 -0.2 -0.3 -0.1 -0.2 -0.2 -0.7 3

 4 Money market fund shares 0.0 0.0 0.4 -0.4 0.7 0.1 -1.3 1.4 -3.0 3.4 -3.4 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 2.2 3.1 2.0 1.4 -2.4 0.1 -1.1 0.9 0.8 -0.4 1.9 6

 7 Open market paper -1.4 -1.2 -0.3 -0.6 0.6 -0.2 2.2 -1.1 1.1 -3.1 2.6 7

 8 Treasury securities 2.8 2.8 2.4 0.3 -3.1 -0.6 0.3 -1.0 -1.5 -0.3 -3.0 8

 9 Agency- and GSE-backed securities -0.6 -0.2 -0.8 -0.5 -0.2 -0.3 -3.9 2.5 -1.2 1.6 1.2 9

 10 Municipal securities 0.0 0.1 0.0 0.2 0.3 0.1 -0.1 0.0 0.3 0.1 0.1 10

 11 Corporate and foreign bonds 1.3 1.6 0.7 2.0 0.0 1.1 0.5 0.5 2.1 1.2 1.0 11

 12 Corporate equities -16.4 2.0 2.7 -2.0 11.5 14.0 17.5 10.7 19.5 8.5 1.8 12

 13 Mutual fund shares 6.3 4.8 -5.4 0.5 -0.3 3.4 7.1 -2.8 4.2 5.2 9.4 13

 14 Miscellaneous assets 23.4 14.2 -10.8 -6.9 -5.4 5.9 4.6 16.1 -3.5 6.2 7.4 14

 15 Unallocated insurance contracts (2) 23.4 14.2 -10.7 -6.9 -6.2 5.3 4.5 12.9 -3.7 7.4 7.3 15

 16 Other -0.1 0.1 -0.0 -0.0 0.8 0.6 0.1 3.2 0.1 -1.2 0.0 16

 17 Pension entitlements (liabilities) 14.8 23.6 -11.2 -7.4 4.2 23.5 26.7 29.1 17.8 20.2 16.3 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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F.121 Money Market Mutual Funds (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets -498.7 -503.2 -112.8 7.1 28.9 9.6 -86.3 -143.8 39.7 228.7 -47.5 1

 2 Foreign deposits 11.6 8.7 -62.9 0.4 -9.6 -9.6 -57.3 29.0 -13.7 3.6 0.8 2

 3 Checkable deposits and currency 10.5 -3.7 5.8 -3.6 -3.2 -17.6 49.1 -9.1 -93.6 -16.7 23.3 3

 4 Time and savings deposits 169.9 -107.7 -56.3 32.8 59.4 20.7 42.3 97.5 55.4 -112.6 44.9 4

 5 Security repurchase agreements -62.4 -0.6 11.1 54.2 -51.3 151.2 195.0 167.2 -34.3 276.9 79.2 5

 6 Credit market instruments -619.9 -396.6 -9.8 -82.7 30.8 -120.8 -253.6 -356.5 150.4 -23.6 -102.0 6

 7 Open market paper -108.0 -116.3 -40.0 -13.3 11.2 -18.5 5.9 20.7 -46.0 -54.5 25.6 7

 8 Treasury securities -171.3 -71.0 107.9 14.5 30.2 -75.3 -143.2 -242.7 128.8 -44.2 57.9 8

 9 Agency- and GSE-backed securities -213.1 -140.2 0.9 -60.2 17.7 23.4 -49.7 -13.9 49.9 107.2 -143.8 9

 10 Municipal securities -69.4 -53.4 -29.4 -20.6 -28.3 -26.7 -13.9 -31.0 -1.1 -60.7 1.3 10

 11 Corporate and foreign bonds -58.1 -15.7 -49.1 -3.0 -0.0 -23.8 -52.8 -89.6 18.8 28.6 -43.0 11

 12 Miscellaneous assets -8.3 -3.4 -0.8 6.1 2.8 -14.3 -61.8 -71.9 -24.4 101.0 -93.8 12

 13 Net share issues (liabilities) -498.7 -503.2 -112.8 7.1 28.9 9.6 -86.3 -143.8 39.7 228.7 -47.5 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; quarterly figures are seasonally adjusted annual rates

 1 Gross saving -40.7 -24.9 -35.7 -39.8 -41.3 -14.1 -16.5 -18.1 -11.0 -10.8 -10.1 1

 2 Net acquisition of financial assets 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 2

 3 Security repurchase agreements 28.6 -15.8 -28.8 54.1 92.9 46.3 104.7 168.5 -115.0 27.0 18.4 3

 4 Credit market instruments 387.1 353.6 359.4 642.0 363.9 476.9 329.7 494.8 491.1 591.8 463.3 4

 5 Open market paper 28.6 -13.9 -26.3 27.6 27.7 15.3 -106.3 68.7 17.3 81.6 -148.8 5

 6 Treasury securities 74.0 123.0 65.8 120.8 55.0 119.5 145.3 84.2 140.6 107.9 212.5 6

 7 Agency- and GSE-backed securities 50.0 76.4 115.0 89.2 -24.0 -30.1 -61.9 -145.5 31.9 54.8 -37.2 7

 8 Municipal securities 89.4 46.7 15.7 86.2 -13.5 43.8 17.3 48.7 51.1 57.9 59.4 8

 9 Corporate and foreign bonds 143.8 122.3 170.3 306.0 279.3 318.9 274.9 453.3 240.3 307.1 374.0 9

 10 Other loans and advances 1.3 -0.8 18.9 12.2 39.4 9.4 60.3 -14.6 9.8 -17.6 3.4 10

 11 Corporate equities 86.5 44.3 4.9 -38.1 162.5 75.3 131.6 73.8 124.4 -28.7 67.1 11

 12 Miscellaneous assets -5.1 -12.0 2.9 -33.1 19.1 -4.3 130.7 -86.9 82.2 -143.0 0.0 12

 13 Net share issues (liabilities) 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 13

 14 Discrepancy -40.7 -24.9 -35.7 -39.8 -41.3 -14.1 -16.5 -18.1 -11.0 -10.8 -10.1 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; quarterly figures are seasonally adjusted annual rates

 Closed-end funds

 1 Net acquisition of financial assets 7.1 0.5 -2.9 2.6 -2.6 -10.6 6.4 9.2 -10.0 -48.2 -11.3 1

 2 Credit market instruments 10.5 5.2 -1.7 11.2 13.6 -3.8 1.1 2.8 -10.6 -8.3 -1.4 2

 3 Treasury securities 1.2 0.7 -0.3 0.3 0.6 -0.2 0.3 0.3 -0.5 -1.0 -0.4 3

 4 Municipal securities 3.3 0.4 0.9 3.4 -1.6 0.5 3.6 2.5 -6.3 2.2 -0.6 4

 5 Corporate and foreign bonds 6.0 4.1 -2.3 7.5 14.6 -4.0 -2.8 -0.1 -3.8 -9.5 -0.4 5

 6 Corporate equities -3.4 -4.7 -1.2 -8.5 -16.1 -6.9 5.3 6.4 0.6 -39.9 -9.9 6

 7 Net share issues (liabilities) 7.1 0.5 -2.9 2.6 -2.6 -10.6 6.4 9.2 -10.0 -48.2 -11.3 7

 Exchange-traded funds

 8 Net acquisition of financial assets 116.5 118.0 117.6 185.2 179.0 239.2 57.3 229.6 192.8 477.0 220.5 8

 9 Credit market instruments 46.0 29.7 46.1 52.3 12.2 51.0 43.8 48.2 24.4 87.6 77.1 9

 10 Treasury securities 14.7 9.2 11.4 1.2 -6.5 13.0 8.7 15.0 5.3 23.0 12.2 10

 11 Municipal securities 3.6 1.7 1.0 3.6 -0.8 3.2 1.5 3.1 3.3 4.8 5.6 11

 12 Corporate and foreign bonds 27.6 18.7 33.6 47.6 19.5 34.8 33.6 30.2 15.8 59.7 59.4 12

 13 Corporate equities 70.5 88.3 71.6 132.9 166.8 188.2 13.5 181.4 168.4 389.4 143.4 13

 14 Net share issues (liabilities) 116.5 118.0 117.6 185.2 179.0 239.2 57.3 229.6 192.8 477.0 220.5 14
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F.124 Government-Sponsored Enterprises (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 9.6 10.5 8.8 8.4 8.5 5.8 5.3 5.8 6.0 6.0 5.9 1

 2 Fixed nonresidential investment 1.1 3.7 3.4 3.5 3.8 4.1 3.9 4.0 4.1 4.2 4.2 2

 3 Net acquisition of financial assets -360.8 -274.1 -205.7 -176.0 104.4 50.2 -477.0 135.1 249.7 293.0 -228.3 3

 4 Checkable deposits and currency 11.1 -36.0 9.3 -20.1 29.0 -16.6 -144.7 15.6 159.9 -97.4 -46.2 4

 5 Time and savings deposits -42.8 0.3 -12.7 -9.1 1.1 -2.1 10.3 -8.1 -1.9 -8.7 -5.4 5

 6 Federal funds and security repos 7.5 20.7 -38.9 38.6 1.5 10.3 -100.1 28.2 -93.5 206.8 -17.9 6

 7 Credit market instruments -337.8 -288.4 -163.2 -189.4 59.8 69.6 -188.3 102.1 193.8 170.6 -199.0 7

 8 Open market paper 3.0 0.2 -3.4 -3.1 1.0 1.5 1.3 3.6 1.2 -0.1 -1.4 8

 9 Treasury securities 19.9 45.9 17.6 -31.2 -9.9 5.2 24.4 -2.8 2.1 -3.0 30.0 9

 10 Agency- and GSE-backed securities -27.4 -85.1 -18.1 -48.3 -22.7 7.8 -17.2 8.1 18.9 21.4 -12.3 10

 11 Municipal securities -2.2 -4.2 -3.9 -4.1 -3.5 -2.6 -3.0 -2.1 -3.0 -2.4 -3.6 11

 12 Corporate and foreign bonds -48.6 -29.6 -30.8 -50.0 -59.4 -30.8 -24.8 -42.9 -31.8 -24.0 -38.6 12

 13 Other loans and advances -284.8 -144.7 -64.2 18.6 81.9 84.3 11.6 157.7 92.1 75.7 -68.1 13

 14 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Farm Credit System -0.2 7.2 -3.5 8.3 2.9 11.2 -4.4 13.5 12.9 22.6 -23.8 15

 16 FHLB loans -284.6 -151.9 -60.7 10.3 79.0 73.1 16.0 144.2 79.2 53.1 -44.3 16

 17 Mortgages 2.4 -71.0 -60.5 -71.4 72.5 4.3 -180.6 -19.6 114.2 103.0 -105.1 17

 18 Home -23.2 -76.4 -66.5 -82.5 87.1 4.5 -164.7 -3.6 103.3 83.1 -133.7 18

 19 Consolidated trusts (2) 0.0 -192.7 -72.5 -44.9 148.0 28.1 -66.0 23.8 61.6 92.8 -69.5 19

 20 Other -23.2 116.3 5.9 -37.6 -60.9 -23.5 -98.7 -27.4 41.7 -9.7 -64.3 20

 21 Multifamily residential 14.2 2.0 2.8 6.2 -21.9 -2.7 -18.5 -18.4 8.6 17.3 25.4 21

 22 Consolidated trusts (2) 0.0 25.3 24.5 27.5 18.9 17.8 10.3 8.9 25.7 26.4 25.0 22

 23 Other 14.2 -23.3 -21.7 -21.3 -40.8 -20.5 -28.7 -27.2 -17.1 -9.0 0.4 23

 24 Farm 11.4 3.4 3.3 4.9 7.4 2.4 2.5 2.4 2.3 2.6 3.2 24

 25 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Miscellaneous assets 1.2 29.3 -0.1 4.1 13.1 -11.0 -54.1 -2.7 -8.6 21.5 40.2 26

 27 Net increase in liabilities -360.2 -237.8 -208.1 -146.6 100.5 71.2 -375.1 156.1 152.1 351.6 -172.6 27

 28 Federal funds and security repos -0.1 0.1 -0.9 -0.4 0.0 0.1 0.1 -0.1 0.0 0.2 0.1 28

 29 Credit market instruments -518.4 -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 29

 30 GSE issues (4) -518.4 -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 30

 31 Consolidated trusts (2) 0.0 -167.4 -48.0 -17.4 166.8 45.9 -55.7 32.7 87.3 119.2 -44.5 31

 32 Other -518.4 -66.4 -139.2 -137.2 -59.3 29.4 -299.8 124.2 55.2 238.1 -119.1 32

 33 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 33

 34 Corporate equities 96.0 38.1 29.2 14.5 2.4 -0.5 -5.9 0.0 2.8 1.0 -5.0 34

 35 Miscellaneous liabilities 62.3 -42.2 -49.2 -6.1 -9.4 -3.6 -13.8 -0.7 6.8 -6.9 -4.2 35

 36 Discrepancy 9.1 43.0 3.0 34.3 0.7 22.7 103.2 22.7 -95.7 60.5 57.4 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 (table F.125) are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

F.125 Agency- and GSE-Backed Mortgage Pools (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 1

 2 Home mortgages 445.6 175.8 148.0 105.0 98.8 51.1 57.9 5.6 61.1 80.0 -15.1 2

 3 Multifamily residential mortgages 13.0 11.3 19.4 27.0 33.7 24.3 19.7 22.3 22.5 32.8 14.4 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages -0.2 -0.2 -2.1 0.3 -0.2 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 5

 6 Net increase in pool securities (liabilities)(2) 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 6

(1) GNMA, Fannie Mae, Freddie Mac, Farmer Mac, and Farmers Home Administration pools. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools are consolidated on

 Fannie Mae’s and Freddie Mac’s balance sheets (table F.124). Also includes agency- and GSE-backed mortgage pool securities that are used as collateral for agency- and GSE-backed CMOs

 and privately issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans.

(2) Such issues are classified as agency- and GSE-backed securities.
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F.126 Issuers of Asset-Backed Securities (ABS)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 0.4 0.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Fixed nonresidential investment 0.1 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 -613.7 -413.6 -174.2 -145.1 -234.6 -68.4 -165.8 -90.5 -2.9 -14.3 -73.7 3

 4 Treasury securities -18.3 -13.8 -10.9 -5.8 1.0 0.8 2.5 -3.2 3.6 0.4 -3.4 4

 5 Agency- and GSE-backed securities (1) -224.2 -96.0 -3.3 -0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Other loans and advances -51.1 -38.9 -5.4 -0.6 -11.5 9.1 18.0 -16.5 20.0 14.9 5.8 6

 7 Mortgages (2) -248.1 -213.3 -146.2 -136.0 -217.6 -74.5 -177.9 -65.5 -22.8 -31.7 -73.5 7

 8 Home -202.1 -160.8 -120.9 -106.7 -83.0 -63.4 -62.1 -71.3 -70.6 -49.5 -73.0 8

 9 Multifamily residential -6.1 -8.6 -7.7 -9.6 -5.9 -1.6 -3.1 -6.6 0.2 3.0 -8.4 9

 10 Commercial -39.9 -43.9 -17.6 -19.7 -128.7 -9.5 -112.7 12.4 47.6 14.8 7.8 10

 11 Consumer credit -37.8 -42.3 -4.1 3.8 -0.8 0.6 -2.6 -3.6 7.8 0.9 -2.7 11

 12 Trade credit -34.3 -9.5 -4.2 -6.4 -5.4 -4.4 -5.7 -1.6 -11.6 1.2 -0.0 12

 13 Net increase in liabilities -614.1 -413.9 -174.2 -145.1 -234.6 -68.4 -165.8 -90.5 -2.9 -14.3 -73.7 13

 14 Commercial paper -266.2 -40.3 -24.1 -9.0 -7.1 -15.1 -32.0 24.1 -15.5 -37.1 -20.2 14

 15 Corporate bonds (net) (3) -347.9 -373.6 -150.1 -136.0 -227.5 -53.3 -133.8 -114.6 12.6 22.8 -53.5 15

 16 Discrepancy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Memo:

 Securitized assets not included above

 17 Consumer leases (4) -0.4 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 REIT assets (5) -26.8 -0.5 -3.8 1.3 139.6 11.3 81.6 -23.5 -5.5 -7.4 -29.9 18

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Net issuance less net acquisition of corporate bonds held as assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset; depreciation flows are included in line 1, and fixed investment flows are included in line 2.

(5) Included in table F.128.

F.127 Finance Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Gross saving 96.8 69.9 102.6 107.4 91.6 76.2 80.3 75.9 76.0 72.7 64.7 1

 2 Fixed nonresidential investment 19.5 39.6 51.2 64.2 69.5 74.3 71.6 73.7 75.8 76.2 76.9 2

 3 Net acquisition of financial assets -184.4 -212.8 -17.8 -69.6 -20.4 28.9 -5.2 29.4 -35.4 126.7 23.4 3

 4 Checkable deposits and currency 0.5 -1.7 5.1 -3.8 4.2 -0.2 3.2 -2.2 -4.8 3.1 1.7 4

 5 Time and savings deposits 1.6 -5.2 15.4 -11.5 12.7 -0.5 9.7 -6.6 -14.5 9.3 5.2 5

 6 Credit market instruments -214.9 -102.6 -44.4 -28.6 -19.0 13.8 -2.0 19.9 -5.4 42.6 26.8 6

 7 Corporate and foreign bonds 6.3 -19.8 0.9 -6.3 -10.8 6.1 15.6 2.5 -10.1 16.3 8.4 7

 8 Other loans and advances -91.0 -15.2 3.0 11.2 14.4 11.5 2.6 24.8 6.3 12.3 26.2 8

 9 Mortgages -47.8 -54.2 -30.9 -25.7 -21.9 -8.7 -13.0 -18.0 -10.0 6.0 -11.6 9

 10 Consumer credit -82.4 -13.4 -17.4 -7.8 -0.6 5.0 -7.1 10.7 8.4 8.0 3.9 10

 11 U.S. direct investment abroad 11.0 6.8 12.0 7.7 4.0 6.3 28.5 9.4 6.4 -18.9 -25.2 11

 12 Miscellaneous assets 17.4 -110.1 -5.9 -33.4 -22.3 9.4 -44.8 8.8 -17.0 90.5 14.8 12

 13 Net increase in liabilities -250.2 -233.1 -26.0 -82.1 -21.6 14.1 -32.9 22.3 -51.1 117.9 66.4 13

 14 Credit market instruments -156.2 -174.9 -13.5 -56.7 4.2 28.9 -24.5 11.6 48.0 80.2 62.8 14

 15 Open market paper -38.8 1.7 10.0 8.2 -10.3 -1.1 -16.2 3.4 20.0 -11.4 -13.6 15

 16 Corporate bonds -87.0 -111.7 -39.4 -81.3 4.4 19.4 -10.2 38.2 2.9 46.7 55.2 16

 17 Depository institution loans n.e.c. -30.4 -64.9 15.9 16.4 10.1 10.5 1.9 -30.0 25.2 45.0 21.2 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 0.0 18

 19 Taxes payable -2.8 0.3 0.5 0.2 0.1 0.3 0.1 0.1 0.8 0.3 1.8 19

 20 Foreign direct investment in U.S. 12.8 13.2 6.1 -0.8 0.5 0.1 1.6 3.2 -6.9 2.5 -5.7 20

 21 Miscellaneous liabilities -104.1 -71.7 -19.1 -24.7 -26.4 -15.2 -10.1 7.4 -93.0 34.9 7.5 21

 22 Investment by parent -32.6 -12.8 -12.0 -0.9 -1.0 1.0 21.0 -7.8 -10.6 1.2 -11.9 22

 23 Other -71.5 -58.8 -7.1 -23.8 -25.4 -16.2 -31.1 15.2 -82.5 33.7 19.4 23

 24 Discrepancy 11.5 9.9 43.2 30.6 20.9 -12.9 -18.9 -4.8 -15.6 -12.3 30.8 24

 Memo:

 25 Consumer leases not included above (2) -25.7 -16.5 7.9 24.3 23.3 21.6 19.2 22.1 26.7 18.3 17.5 25

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table F.126.
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F.128 Real Estate Investment Trusts (REITs) (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 6.5 -4.8 -7.3 -10.4 -7.4 -6.8 -8.9 -6.1 -6.1 -5.9 -5.5 1

 2 Fixed nonresidential investment 7.8 5.8 4.9 6.2 6.9 7.6 7.3 7.5 7.7 7.8 7.5 2

 3 Multifamily residential investment 0.7 4.0 6.5 5.3 14.7 7.4 -3.6 19.7 5.4 8.2 11.7 3

 4 Net acquisition of financial assets 12.4 39.7 131.2 161.0 50.1 64.8 99.3 98.6 15.9 45.4 -11.8 4

 5 Checkable deposits and currency 12.4 -5.7 2.5 7.7 -1.3 4.1 -4.6 18.5 2.1 0.5 1.2 5

 6 Credit market instruments -10.3 44.1 120.2 127.6 39.2 43.8 64.7 35.3 -1.1 76.5 -37.3 6

 7 Agency- and GSE-backed securities 15.6 38.2 104.7 109.5 -95.6 7.8 -35.4 44.1 -21.4 44.0 -33.7 7

 8 Corporate and foreign bonds 4.3 7.2 3.8 9.5 -0.2 3.3 6.0 -2.7 3.7 6.4 18.3 8

 9 Mortgages -30.2 -1.3 11.7 8.6 135.0 32.7 94.0 -6.1 16.6 26.1 -21.9 9

 10 Home -25.2 0.2 11.0 6.9 -3.3 13.9 9.1 6.8 28.7 10.8 -2.8 10

 11 Multifamily residential -2.0 -0.3 -0.2 0.1 0.5 1.8 -0.8 0.2 4.3 3.6 0.5 11

 12 Commercial -2.9 -1.2 0.9 1.5 137.7 17.0 85.8 -13.1 -16.5 11.6 -19.6 12

 13 Miscellaneous assets 10.2 1.3 8.5 25.8 12.2 16.9 39.3 44.8 14.9 -31.6 24.3 13

 14 Net increase in liabilities 2.5 62.3 168.0 211.0 136.4 126.8 131.8 150.8 87.9 136.7 82.0 14

 15 Security repurchase agreements 11.1 29.9 97.7 102.4 -66.6 7.3 -53.2 36.8 -1.8 47.3 -11.7 15

 16 Credit market instruments -27.6 0.1 25.6 35.5 178.4 75.0 140.1 49.4 57.4 53.1 44.4 16

 17 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate bonds -26.6 1.0 7.6 26.7 173.6 53.2 115.5 55.1 38.2 4.0 11.9 18

 19 Depository institution loans n.e.c. -12.7 -1.8 4.6 4.0 -2.9 8.0 12.0 -12.2 13.7 18.7 15.3 19

 20 Mortgages 11.8 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.2 20

 21 Corporate equity issues 24.2 28.2 37.5 47.6 46.2 32.7 18.9 46.9 30.4 34.7 53.9 21

 22 Miscellaneous liabilities -5.3 4.1 7.1 25.4 -21.7 11.8 26.1 17.7 1.9 1.5 -4.7 22

 23 Discrepancy -11.7 8.1 18.2 28.4 57.4 40.4 20.2 18.9 52.9 69.7 69.4 23

 Memo:

 24 Securitized assets included above -26.8 -0.5 -3.8 1.3 139.6 11.3 81.6 -23.5 -5.5 -7.4 -29.9 24

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

 26 Home mortgages -25.7 1.1 -0.7 3.7 4.0 1.5 1.4 -1.6 3.7 2.3 -4.1 26

 27 Multifamily residential mortgages -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.2 0.3 -0.1 -0.2 -0.3 27

 28 Commercial mortgages -1.1 -1.6 -3.0 -2.4 135.6 9.8 80.3 -22.3 -9.1 -9.6 -25.6 28

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables F.128.e and F.128.m.
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F.128.e Equity Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets 29.7 -0.8 8.1 14.1 13.3 25.2 30.4 43.9 14.8 11.7 26.6 1

 2 Checkable deposits and currency 10.3 -4.1 -2.3 4.1 1.0 3.8 -3.6 15.4 1.8 1.6 -4.3 2

 3 Credit market instruments 6.2 0.7 2.3 1.5 -1.9 6.2 3.9 2.4 9.9 8.8 2.2 3

 4 Corporate and foreign bonds 2.1 0.4 -0.6 -0.2 -1.8 2.2 0.4 1.4 4.3 2.6 1.7 4

 5 Mortgages 4.0 0.4 2.9 1.6 -0.1 4.0 3.4 1.0 5.6 6.2 0.4 5

 6 Home 0.0 0.0 0.1 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.2 6

 7 Multifamily residential -0.2 0.0 -0.0 0.1 -0.0 -0.1 -0.1 -0.0 -0.1 0.0 0.1 7

 8 Commercial 4.2 0.3 2.9 1.5 -0.1 4.1 3.6 1.0 5.7 6.1 0.2 8

 9 Miscellaneous assets 13.2 2.6 8.1 8.5 14.2 15.1 30.1 26.1 3.0 1.3 28.7 9

 10 Net increase in liabilities 2.9 -0.4 37.4 38.5 36.4 61.9 53.8 70.9 60.4 62.6 66.6 10

 11 Credit market instruments 6.6 0.1 32.8 33.9 34.5 54.4 51.7 59.1 51.8 54.9 64.1 11

 12 Corporate bonds 4.7 1.0 13.2 27.6 28.9 33.3 27.6 61.1 34.5 9.9 31.3 12

 13 Depository institution loans n.e.c. -9.8 -1.8 6.1 1.4 -2.2 7.4 11.5 -8.4 11.8 14.6 15.7 13

 14 Mortgages 11.8 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.2 14

 15 Multifamily residential 2.3 0.4 0.1 -1.1 3.3 1.0 -1.8 2.1 -0.6 4.4 3.2 15

 16 Commercial 9.5 0.4 13.3 6.0 4.5 12.7 14.4 4.4 6.1 26.1 14.0 16

 17 Miscellaneous liabilities -3.8 -0.5 4.6 4.6 1.9 7.6 2.1 11.9 8.6 7.7 2.4 17

F.128.m Mortgage Real Estate Investment Trusts

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net acquisition of financial assets -17.3 40.5 123.1 146.9 36.8 39.6 68.9 54.8 1.2 33.7 -38.5 1

 2 Checkable deposits and currency 2.1 -1.6 4.8 3.6 -2.3 0.3 -1.0 3.1 0.3 -1.2 5.5 2

 3 Credit market instruments -16.4 43.3 117.9 126.1 41.1 37.6 60.8 32.9 -11.0 67.7 -39.4 3

 4 Agency- and GSE-backed securities 15.6 38.2 104.7 109.5 -95.6 7.8 -35.4 44.1 -21.4 44.0 -33.7 4

 5 Corporate and foreign bonds 2.2 6.8 4.4 9.7 1.6 1.2 5.6 -4.1 -0.6 3.8 16.5 5

 6 Mortgages -34.2 -1.7 8.8 6.9 135.1 28.6 90.6 -7.0 11.0 19.9 -22.3 6

 7 Home -25.3 0.1 10.9 6.8 -3.3 13.9 9.1 6.8 28.7 10.8 -3.0 7

 8 Multifamily residential -1.8 -0.3 -0.2 0.1 0.5 1.9 -0.7 0.2 4.5 3.6 0.4 8

 9 Commercial -7.1 -1.5 -1.9 -0.0 137.8 12.8 82.2 -14.0 -22.3 5.5 -19.8 9

 10 Miscellaneous assets -3.0 -1.2 0.4 17.2 -2.0 1.7 9.2 18.8 11.9 -32.9 -4.5 10

 11 Net increase in liabilities -24.6 34.4 93.1 124.9 53.8 32.2 59.1 33.0 -2.8 39.4 -38.6 11

 12 Security repurchase agreements 11.1 29.9 97.7 102.4 -66.6 7.3 -53.2 36.8 -1.8 47.3 -11.7 12

 13 Credit market instruments -34.2 -0.1 -7.2 1.6 143.9 20.6 88.3 -9.7 5.7 -1.8 -19.7 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds -31.4 -0.0 -5.7 -0.9 144.7 19.9 87.8 -5.9 3.7 -5.9 -19.4 15

 16 Depository institution loans n.e.c. -2.8 -0.0 -1.5 2.5 -0.8 0.7 0.5 -3.8 1.9 4.1 -0.3 16

 17 Miscellaneous liabilities -1.5 4.6 2.5 20.9 -23.5 4.2 24.0 5.8 -6.7 -6.2 -7.1 17

 Memo:

 18 Securitized assets included above -26.8 -0.5 -3.8 1.3 139.6 11.3 81.6 -23.5 -5.5 -7.4 -29.9 18

 19 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Home mortgages -25.7 1.1 -0.7 3.7 4.0 1.5 1.4 -1.6 3.7 2.3 -4.1 20

 21 Multifamily residential mortgages -0.0 -0.0 -0.0 -0.0 0.0 -0.0 -0.2 0.3 -0.1 -0.2 -0.3 21

 22 Commercial mortgages -1.1 -1.6 -3.0 -2.4 135.6 9.8 80.3 -22.3 -9.1 -9.6 -25.6 22
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F.129 Security Brokers and Dealers

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 36.9 25.8 6.3 23.2 14.4 25.3 23.1 26.1 29.1 22.7 22.6 1

 2 Fixed nonresidential investment 23.6 17.9 16.1 13.0 13.5 14.3 13.9 14.2 14.5 14.6 14.7 2

 3 Net acquisition of financial assets -236.3 234.4 29.1 173.7 -298.1 -153.7 235.4 -123.2 -185.5 -541.3 77.4 3

 4 Checkable deposits and currency -29.4 6.2 14.9 16.3 -16.5 0.0 2.0 8.5 9.5 -19.8 23.6 4

 5 Security repurchase agreements -103.3 243.4 154.6 55.1 -317.2 -168.2 -190.8 -172.0 -39.4 -270.7 -55.8 5

 6 Credit market instruments -192.1 32.2 5.7 89.1 -175.4 -81.0 -57.8 -28.8 -145.4 -92.0 53.5 6

 7 Open market paper -24.2 -5.3 5.9 -12.2 -1.3 -7.8 22.8 -7.8 -46.1 -0.1 3.4 7

 8 Treasury securities -67.6 -28.5 89.1 63.0 -110.5 -75.9 -64.1 -57.8 -65.3 -116.3 61.2 8

 9 Agency- and GSE-backed securities -131.8 38.9 -2.1 21.9 -55.4 7.7 -3.3 3.4 -30.0 60.8 9.5 9

 10 Municipal securities -3.3 4.6 -9.1 -4.3 -8.0 0.2 -7.1 5.3 -8.0 10.6 7.1 10

 11 Corporate and foreign bonds 47.5 35.2 -85.0 35.5 -11.1 -13.5 -3.3 28.3 -4.5 -74.4 -29.9 11

 12 Other loans and advances -12.7 -12.7 6.9 -14.8 10.9 8.2 -2.7 -0.3 8.4 27.3 2.2 12

 13 Corporate equities -4.6 -18.5 -5.0 9.7 18.6 8.7 -85.5 32.0 53.8 34.6 -103.9 13

 14 Security credit 38.1 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 14

 15 U.S. direct investment abroad 12.5 8.7 4.9 6.7 9.2 9.4 9.0 1.0 8.6 19.1 20.4 15

 16 Miscellaneous assets 42.4 -112.9 -106.6 -68.1 147.7 47.1 633.0 -183.2 -131.9 -129.5 200.4 16

 17 Net increase in liabilities -305.9 220.4 69.4 120.5 -329.1 -166.1 222.3 -111.7 -185.8 -589.2 84.9 17

 18 Security repurchase agreements -296.8 195.9 70.5 131.2 -439.3 -220.9 -223.8 -141.9 -283.3 -234.4 -49.8 18

 19 Credit market instruments -49.7 36.9 -37.9 -1.7 22.2 11.5 41.3 -37.4 42.1 -0.1 -65.9 19

 20 Corporate bonds -4.2 36.9 -37.9 -1.7 22.2 11.5 41.3 -37.4 42.1 -0.1 -65.9 20

 21 Depository institution loans n.e.c. (1) -45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Corporate equity issues -32.4 -11.1 14.1 -50.7 -31.0 -11.7 -7.1 -0.1 -0.5 -39.1 10.4 22

 23 Trade payables 48.9 -52.0 -3.8 -0.0 0.3 3.4 1.0 11.9 8.4 -7.8 5.1 23

 24 Security credit -43.5 29.8 31.9 32.8 68.9 65.4 221.8 6.3 113.4 -79.7 7.7 24

 25 From households -35.7 23.5 0.9 42.0 58.5 53.5 202.8 1.6 103.6 -94.0 6.3 25

 26 From U.S.-chartered depository institutions -3.4 3.2 12.2 -1.9 7.9 8.2 21.9 10.6 -2.7 2.9 1.6 26

 27 From foreign banking offices in U.S. -4.5 3.1 18.8 -7.3 2.5 3.8 -2.9 -5.9 12.5 11.4 -0.2 27

 28 Taxes payable 3.2 -2.1 -1.1 0.5 0.6 0.3 3.2 2.5 1.1 -5.5 3.3 28

 29 Foreign direct investment in U.S. 2.1 13.2 18.2 9.4 11.6 3.5 8.8 3.0 1.9 0.2 -2.6 29

 30 Miscellaneous liabilities 61.7 9.0 -19.4 -7.7 41.3 -19.9 174.1 45.7 -75.5 -223.9 176.0 30

 31 Investment by parent companies -166.8 -51.2 40.4 71.3 72.6 24.1 98.4 126.3 -149.5 21.1 33.8 31

 32 Other 228.6 60.2 -59.8 -79.0 -31.3 -43.9 75.7 -80.5 74.0 -245.0 142.3 32

 33 Proprietors’ net investment 0.6 0.9 -2.9 6.7 -3.9 2.3 3.0 -1.8 6.7 1.1 0.8 33

 34 Discrepancy -56.3 -6.0 30.5 -43.0 -30.2 -1.5 -3.9 23.4 14.3 -39.7 15.5 34

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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F.130 Holding Companies (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Gross saving 85.6 94.6 130.8 162.5 146.8 172.6 147.4 187.2 175.1 180.5 157.1 1

 2 Fixed nonresidential investment 35.9 31.9 37.0 41.6 43.2 45.4 44.2 45.0 46.0 46.2 46.5 2

 3 Net acquisition of financial assets 87.3 -4.6 44.6 -75.5 311.7 91.2 173.7 277.1 -111.1 25.1 -147.9 3

 4 Time and savings deposits -3.9 -1.3 2.4 -0.3 1.5 -8.9 6.5 -24.5 38.3 -55.8 27.0 4

 5 Security repurchase agreements 19.8 2.1 0.2 -49.3 -2.8 -5.1 -0.4 7.7 -5.4 -22.4 12.9 5

 6 Credit market instruments -16.0 22.1 3.1 -50.1 56.2 -11.1 -25.4 -8.1 36.3 -47.0 -32.0 6

 7 Treasury securities 2.7 13.8 7.1 -30.6 8.5 -2.8 -0.4 20.9 8.7 -40.4 -14.4 7

 8 Agency- and GSE-backed securities -7.0 -3.2 12.0 -24.3 13.5 0.0 -7.4 1.2 3.0 3.2 12.3 8

 9 Corporate and foreign bonds -8.4 7.3 -20.1 -11.9 37.0 2.6 -6.9 5.4 25.7 -13.8 -19.8 9

 10 Other loans and advances -3.2 4.3 4.0 16.7 -2.8 -10.9 -10.7 -35.6 -1.1 3.9 -9.9 10

 11 Life insurance reserves 2.1 3.8 2.4 7.3 5.1 5.0 4.7 5.3 4.8 5.3 4.2 11

 12 Miscellaneous assets 85.4 -31.2 36.5 16.9 251.8 111.2 188.2 296.8 -185.0 145.0 -160.2 12

 13 Net trans. with depository institution subs. 166.8 33.4 76.1 101.2 59.2 191.0 165.8 206.4 114.4 277.5 -86.0 13

 14 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 -6.8 -6.0 0.1 -2.2 1.9 -0.2 0.9 -5.5 14

 15 Net trans. with life insurance company subs. 9.3 22.2 9.3 10.3 3.4 0.8 0.9 2.3 -0.3 0.2 1.1 15

 16 Net trans. with finance company subs. -23.3 -39.5 -20.3 -3.5 -15.8 -13.1 -45.9 -3.0 -4.0 0.5 -4.5 16

 17 Net trans. with broker and dealer subs. -173.1 -24.3 -13.0 52.3 57.1 0.8 88.9 61.0 -158.6 11.9 -69.6 17

 18 Net trans. with foreign subs. 23.5 10.6 30.6 -51.5 -16.9 -5.6 -8.1 19.5 -27.6 -6.4 40.5 18

 19 Other 82.3 -33.6 -46.2 -85.0 170.8 -62.7 -11.1 8.6 -108.6 -139.5 -36.0 19

 20 Net increase in liabilities 33.5 -64.9 -49.3 -199.0 205.4 -39.8 67.9 131.2 -244.3 -113.9 -262.3 20

 21 Security repurchase agreements -0.2 0.2 0.4 -1.2 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.1 21

 22 Credit market instruments -8.0 -16.5 -16.5 -99.9 0.5 -8.3 12.9 4.0 -45.0 -5.2 -55.3 22

 23 Commercial paper -18.1 3.9 11.1 6.2 -19.9 -19.6 -27.5 6.5 -37.7 -19.7 -28.0 23

 24 Corporate bonds 7.8 -46.5 -91.6 14.1 6.7 27.6 48.1 87.3 -14.2 -10.9 -17.5 24

 25 Depository institution loans n.e.c. 2.3 26.1 64.0 -120.2 13.8 -16.3 -7.7 -89.9 6.9 25.4 -9.9 25

 26 Corporate equity issues 68.6 19.8 2.9 0.6 -17.1 -0.3 -2.7 30.3 -1.3 -27.6 48.9 26

 27 Miscellaneous liabilities -26.9 -68.5 -36.2 -98.6 222.0 -31.1 57.7 97.0 -197.9 -81.2 -256.0 27

 28 Equity, etc. 35.6 -22.4 6.9 -29.1 -0.1 -0.3 66.9 97.4 -98.7 -66.8 -170.0 28

 29 Other -62.5 -46.1 -43.1 -69.5 222.1 -30.9 -9.2 -0.5 -99.3 -14.4 -86.0 29

 30 Discrepancy -4.0 2.3 -0.2 -2.6 -2.7 -3.8 -2.6 -3.7 -4.1 -4.7 -3.8 30

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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F.131 Funding Corporations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net acquisition of financial assets -507.0 -166.4 -155.3 -100.5 -36.7 14.8 119.7 -95.2 19.2 15.4 76.3 1

 2 Money market fund shares -153.7 -148.0 -84.6 -61.4 -49.3 11.9 -61.2 -153.4 38.1 224.3 10.8 2

 3 Security repurchase agreements 0.1 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments -311.3 38.7 -63.9 -46.4 -0.3 -0.2 169.9 5.1 -56.1 -119.6 -10.0 4

 5 Open market paper -276.8 50.0 -4.6 -3.7 -6.9 -6.4 118.5 29.5 -52.6 -120.8 -19.6 5

 6 Corporate and foreign bonds -24.7 -9.8 -57.3 -36.2 8.9 4.7 48.4 -19.2 -4.5 -5.9 13.9 6

 7 Other loans and advances -9.8 -1.5 -2.0 -6.5 -2.3 1.5 3.0 -5.1 1.0 7.1 -4.3 7

 8 Corporate equities (2) 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets -67.2 -58.4 19.6 7.2 13.0 3.0 11.0 53.1 37.2 -89.3 75.5 9

 10 Investment in foreign banking offices -73.5 -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 10

 11 Investment in brokers and dealers 6.3 -26.9 53.4 19.0 15.5 23.3 9.6 65.3 9.1 9.2 103.4 11

 12 Net increase in liabilities -507.0 -166.4 -155.3 -100.5 -36.7 14.8 119.7 -95.2 19.2 15.4 76.3 12

 13 Credit market instruments -434.8 -65.3 -52.4 -23.9 27.0 26.5 -10.0 77.5 78.3 -39.7 35.2 13

 14 Open market paper -125.1 -47.4 -72.7 -30.9 16.2 4.3 -2.4 6.5 86.8 -73.5 -64.4 14

 15 Corporate bonds 37.9 -3.2 71.6 35.3 11.4 22.2 -7.6 71.1 -8.4 33.8 99.5 15

 16 Depository institution loans n.e.c. (3) -349.6 -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 2.0 7.2 0.7 -6.8 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Corporate equities (5) 30.5 3.5 -18.4 -8.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 18

 19 Foreign direct investment in U.S. 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 19

 20 Miscellaneous liabilities -103.2 -105.1 -85.1 -68.6 -64.3 -12.4 129.1 -173.3 -59.7 54.5 40.5 20

 21 Securities loaned (net) -30.2 -123.5 -74.6 -79.2 94.0 47.1 484.0 -192.0 -44.8 -58.9 139.1 21

 22 Equity interest under PPIP 2.4 7.9 1.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Other (net) -75.4 10.4 -11.9 10.5 -158.3 -59.4 -354.8 18.6 -14.9 113.4 -98.5 23

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities, and funds associated with

 the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) LLC and to funds associated with PPIP.

(5) Preferred shares issued by AIG to the federal goverment under the Troubled Asset Relief Program (TARP) program and the monetary authority sector’s preferred interest in

 AIA Aurora LLC and ALICO Holdings LLC.
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F.132 Rest of the World

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Foreign income from U.S. 2613.9 3020.3 3379.5 3470.2 3494.8 3632.3 3572.9 3612.9 3656.9 3686.4 3592.7 1

 2 U.S. imports 1983.2 2365.0 2686.4 2762.5 2770.4 2875.2 2822.7 2893.5 2883.0 2901.5 2810.5 2

 3 U.S. income payments to rest of world 497.8 514.1 546.0 566.5 586.1 616.0 611.6 615.0 617.3 619.9 620.6 3

 4 Current taxes and trans. payments to rest of world 132.9 141.2 147.2 141.3 138.3 141.1 138.6 104.3 156.6 165.0 161.6 4

 5 Foreign outlays to U.S. 2236.6 2572.4 2899.0 2988.0 3072.6 3164.6 3107.3 3172.8 3213.7 3164.8 3030.1 5

 6 U.S. exports 1587.7 1852.3 2106.4 2194.2 2262.2 2337.0 2284.7 2344.3 2366.5 2352.3 2247.4 6

 7 U.S. income receipts from rest of world 648.9 720.0 792.6 793.8 810.4 827.7 822.6 828.5 847.2 812.4 782.7 7

 8 - Net capital transfers paid (1) -0.6 -0.7 -1.6 6.5 -0.8 -0.4 -0.4 -0.4 -0.4 -0.4 -0.4 8

 9 Gross saving less net capital transfers paid (2) 377.8 448.6 482.1 475.7 423.0 468.0 466.0 440.5 443.6 522.1 563.0 9

 10 Gross investment 28.0 268.2 416.7 446.5 371.8 166.3 375.6 239.6 -18.6 68.6 -327.1 10

 11 Nonproduced nonfinancial assets 0.0 -0.0 -0.0 -0.1 0.0 0.1 -0.1 0.1 0.1 0.1 0.1 11

 12 Net lending (+) or net borrowing (-) 28.0 268.2 416.7 446.6 371.8 166.2 375.6 239.5 -18.7 68.4 -327.2 12

 13 Net acquisition of financial assets 201.0 1087.5 1049.7 832.9 1191.5 1028.7 1169.0 1152.9 1215.3 577.6 1010.9 13

 14 Monetary gold (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 SDR allocations 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Net interbank assets -201.9 -61.8 213.9 -136.0 312.2 -33.2 209.4 106.0 61.8 -509.8 63.0 16

 17 U.S. checkable deposits and currency -9.2 29.5 81.8 68.2 50.9 79.7 119.7 66.6 14.8 117.6 65.1 17

 18 U.S. time deposits -73.3 4.9 47.3 37.9 52.5 47.0 64.9 137.5 -14.5 0.1 20.2 18

 19 Money market fund shares 7.2 -7.1 4.6 22.6 11.3 2.6 -3.6 -3.6 5.4 12.3 -1.9 19

 20 Security repurchase agreements -54.8 92.4 92.6 -6.6 62.1 123.3 285.5 142.9 -57.6 122.4 129.0 20

 21 Credit market instruments 116.5 619.2 237.4 443.5 551.1 536.9 504.1 397.8 544.1 701.7 359.7 21

 22 Open market paper -48.4 -10.7 0.7 -0.1 -1.4 7.4 20.2 42.4 12.3 -45.4 35.8 22

 23 Treasury securities 554.4 740.4 355.3 589.7 431.3 276.1 371.7 283.7 151.3 297.8 -231.2 23

 24 Treasury bills -7.6 -40.2 -62.6 14.0 24.4 -14.7 4.4 -206.0 -81.6 224.5 109.2 24

 25 Other Treasury securities 562.0 780.5 417.9 575.8 406.9 290.8 367.3 489.7 232.8 73.3 -340.4 25

 26 Agency- and GSE-backed securities -226.0 -66.6 -41.6 -73.6 -84.7 7.2 -107.4 4.4 94.3 37.7 -17.3 26

 27 Municipal securities 7.7 13.1 0.6 -0.6 4.3 4.4 3.2 1.5 5.5 7.3 12.8 27

 28 U.S. corporate bonds (4) -127.3 -36.8 -111.5 -19.7 205.2 211.9 152.3 70.4 266.7 358.3 549.0 28

 29 Loans to U.S. corporate business -44.0 -20.2 33.9 -52.2 -3.5 29.9 64.2 -4.7 14.1 46.1 10.5 29

 30 U.S. corporate equities 192.7 127.8 44.0 126.8 -76.6 118.0 346.9 -106.3 260.1 -28.9 -2.3 30

 31 Mutual fund shares 19.4 58.2 74.7 89.7 -20.0 49.3 31.2 123.5 76.3 -33.9 47.4 31

 32 Trade receivables 6.3 18.6 17.1 11.6 11.9 7.2 37.9 12.5 -18.9 -2.4 -0.4 32

 33 Foreign direct investment in U.S. (5) 150.4 205.9 236.1 175.2 236.3 97.8 -427.0 276.1 343.9 198.4 331.1 33

 34 Net increase in liabilities 173.0 819.3 633.0 386.3 819.8 862.5 793.4 913.5 1234.0 509.1 1338.1 34

 35 U.S. official reserve assets 52.3 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -9.8 35

 36 U.S. private deposits -43.9 71.6 -215.0 -144.0 32.7 -105.1 -118.5 -71.7 197.8 -427.9 -130.0 36

 37 Security repurchase agreements 86.0 207.9 96.4 40.4 -83.5 34.9 282.3 -197.2 121.5 -67.2 210.8 37

 38 Credit market instruments 222.2 149.0 172.8 188.6 268.8 156.1 167.4 444.9 54.0 -42.0 298.4 38

 39 Commercial paper 59.4 -2.7 -53.5 27.9 34.0 -22.6 63.8 33.9 -205.9 17.7 149.8 39

 40 Bonds 177.2 127.4 181.7 124.7 194.4 147.3 48.2 349.8 290.6 -99.2 108.7 40

 41 Depository institution loans n.e.c. -14.8 24.0 43.2 30.4 39.1 28.6 54.9 56.4 -30.6 33.7 40.3 41

 42 Other loans and advances 0.5 0.3 1.4 5.6 1.4 2.8 0.5 4.8 -0.0 5.8 -0.5 42

 43 Foreign corporate equities (6) 63.7 79.2 7.0 103.3 275.2 437.1 325.0 365.9 511.9 545.8 541.8 43

 44 Trade payables 0.5 6.0 4.0 0.7 3.4 -12.8 -47.1 5.3 -8.0 -1.5 3.9 44

 45 U.S. direct investment abroad (4,5) 310.4 301.1 419.1 333.0 349.5 358.0 195.6 338.0 385.5 512.6 385.7 45

 46 Miscellaneous liabilities -518.3 2.7 132.9 -140.0 -23.3 -2.0 -7.6 25.1 -25.2 -0.5 37.4 46

 47 U.S. equity in IBRD, etc. 1.7 2.3 2.6 2.4 2.2 2.3 0.0 6.8 1.9 0.7 -0.2 47

 48 Nonofficial foreign currencies -543.5 -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 48

 49 Investment by holding companies 23.5 10.6 30.6 -51.5 -16.9 -5.6 -8.1 19.5 -27.6 -6.4 40.5 49

 50 Discrepancy (FOF basis) 349.8 180.3 65.5 29.1 51.2 301.7 90.4 200.8 462.2 453.5 890.1 50

 Memo:

 51 Net U.S. exports, NIPA basis -395.4 -512.7 -580.0 -568.3 -508.2 -538.2 -538.0 -549.2 -516.5 -549.2 -563.1 51

 52 + Net U.S. income receipts (7) 151.0 206.0 246.6 227.4 224.3 211.7 211.0 213.5 229.9 192.5 162.1 52

 53 - Current taxes and trans. payments to rest of world 132.9 141.2 147.2 141.3 138.3 141.1 138.6 104.3 156.6 165.0 161.6 53

 54 = Balance on current account, NIPAs -377.3 -447.9 -480.5 -482.2 -422.2 -467.6 -465.6 -440.0 -443.2 -521.7 -562.6 54

(1) Table F.9, line 64.

(2) Line 1 minus line 5 minus line 8; equals net lending (+) or net borrowing (-), NIPAs, with the sign reversed. Also equal to line 54 with the sign reversed minus line 8.

(3) U.S. net sales, sign reversed.

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

(5) Direct investment is valued on a current-cost basis. Excludes capital gains and losses.

(6) Includes American Depositary Receipts (ADRs).

(7) Consists of net receipts from foreigners of interest, corporate profits, and employee compensation. Equals difference between GNP and GDP.
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F.200 U.S. Official Reserve Assets and SDR Allocations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 99.9 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -9.8 1

 2 Federal government: SDR allocations 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Rest of the world 52.3 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -9.8 3

 4 SDR holdings 48.2 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Reserve position in IMF 3.4 1.3 18.1 4.0 -3.4 -3.8 -4.2 2.8 -3.8 -10.3 -10.0 5

 6 Other reserves 0.7 0.5 -0.5 0.4 0.3 0.2 0.3 0.2 0.2 0.2 0.2 6

 7 Net change in assets 99.9 1.8 15.9 4.5 -3.1 -3.6 -3.8 3.1 -3.6 -10.0 -9.8 7

 8 Federal government 51.9 1.6 16.2 4.3 -3.3 -3.8 -4.0 3.0 -4.1 -10.2 -9.9 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings 48.2 0.0 -1.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Reserve position in IMF 3.4 1.3 18.2 4.0 -3.4 -3.9 -4.2 2.9 -4.2 -10.3 -10.0 11

 12 Other reserves 0.3 0.3 -0.2 0.2 0.2 0.1 0.2 0.1 0.1 0.1 0.1 12

 13 Rest of the world 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 SDR allocations 47.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Monetary authority 0.3 0.3 -0.3 0.2 0.2 0.2 0.2 0.1 0.5 0.1 0.1 16

 17 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17

 18 Reserve position in IMF 0.0 0.0 -0.1 0.0 0.0 0.1 0.1 -0.0 0.4 0.0 -0.0 18

 19 Other reserves 0.3 0.3 -0.2 0.2 0.2 0.1 0.2 0.1 0.1 0.1 0.1 19

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, transactions in monetary gold are recorded in the financial account of the domestic sectors as increases (decreases) in assets,

 and the counterparts are recorded as decreases (increases) in assets of the rest of the world.

F.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 SDR certificates:

 1 Liab: Federal government 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1

 2 Asset: Monetary authority 3.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 Treasury currency:

 3 Liab: Federal government -0.4 -0.3 0.0 0.0 -0.4 -0.3 0.0 0.0 -1.0 0.0 0.0 3

 4 Asset: Monetary authority 4.0 0.9 0.7 0.6 0.7 0.8 1.0 0.9 0.8 0.5 1.5 4

 5 Discrepancy (seigniorage) -4.4 -1.1 -0.7 -0.6 -1.1 -1.1 -1.0 -0.9 -1.8 -0.5 -1.5 5

F.202 U.S. Deposits in Foreign Countries

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total rest of the world liability -43.9 71.6 -215.0 -144.0 32.7 -105.1 -118.5 -71.7 197.8 -427.9 -130.0 1

 Held by:

 2 Household sector -7.2 4.5 -9.9 -7.7 2.8 -5.4 -3.9 -4.7 11.5 -24.7 -8.4 2

 3 Nonfinancial corporate business 6.8 9.1 -5.8 0.6 42.7 -6.0 -42.5 41.9 9.1 -32.4 6.6 3

 4 Money market mutual funds 11.6 8.7 -62.9 0.4 -9.6 -9.6 -57.3 29.0 -13.7 3.6 0.8 4

 5 Discrepancy--unallocated assets -55.1 49.2 -136.3 -137.3 -3.2 -84.1 -14.8 -137.9 190.9 -374.4 -129.1 5
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F.203 Net Interbank Transactions

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -536.9 -142.8 820.5 -194.5 1129.1 51.2 1175.1 98.3 262.0 -1330.5 595.8 1

 2 Monetary authority 114.2 -11.1 602.3 -64.1 760.6 131.0 774.7 47.2 340.4 -638.4 235.4 2

 3 U.S.-chartered depository institutions -496.4 -201.3 -263.4 -114.2 191.0 47.7 202.1 40.5 135.9 -187.7 379.6 3

 4 Foreign banking offices in U.S. -152.2 30.7 504.6 -1.9 175.1 -127.5 165.6 36.6 -214.3 -497.9 -51.5 4

 5 Banks in U.S.-affiliated areas -1.0 0.9 -1.2 -0.4 0.2 -0.6 -3.2 -1.4 2.6 -0.5 -1.7 5

 6 Credit unions -1.6 38.1 -21.9 -13.8 2.2 0.7 35.9 -24.6 -2.6 -6.1 34.1 6

 7 Net change in assets -551.4 -168.7 817.0 -200.1 1072.3 98.3 985.6 153.8 401.3 -1147.5 297.2 7

 8 Monetary authority -463.7 -95.7 0.8 0.0 -0.5 0.5 1.5 0.6 -0.9 0.7 -1.2 8

 9 U.S.-chartered depository institutions 41.6 -87.8 231.0 6.9 456.9 192.7 227.3 114.9 297.7 130.9 245.8 9

 10 Foreign banking offices in U.S. 45.1 66.7 360.2 -72.2 309.3 -59.3 491.9 -9.6 76.6 -795.9 -66.0 10

 11 Credit unions 27.5 10.0 11.1 1.2 -5.7 -2.5 55.5 -58.1 -33.9 26.6 55.6 11

 12 Rest of the world -201.9 -61.8 213.9 -136.0 312.2 -33.2 209.4 106.0 61.8 -509.8 63.0 12

 13 Discrepancy 14.5 25.8 3.5 5.7 56.8 -47.1 189.5 -55.5 -139.3 -183.0 298.6 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority -2.8 -2.2 8.1 7.1 2.6 2.0 -6.3 1.1 12.3 1.0 -1.7 14

 15 Asset: U.S.-chartered depository institutions -2.8 -2.2 8.1 7.1 2.5 2.0 -6.3 1.0 12.4 0.9 -1.6 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.1 -0.1 0.1 -0.2 16

 Depository institution reserves:

 17 Liab.: Monetary authority 117.0 -8.9 594.2 -71.2 758.0 128.9 781.0 46.1 328.0 -639.4 237.1 17

 18 Asset: U.S.-chartered depository institutions 44.4 -85.6 222.9 -0.2 454.4 190.7 233.6 114.0 285.2 130.0 247.4 18

 19 Foreign banking offices in U.S. 45.1 66.7 360.2 -72.2 309.3 -59.3 491.9 -9.7 76.7 -796.0 -65.8 19

 20 Credit unions 27.5 10.0 11.1 1.2 -5.7 -2.5 55.5 -58.1 -33.9 26.6 55.6 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions -463.7 -95.7 0.8 0.0 -0.5 0.5 1.5 0.6 -0.9 0.7 -1.2 21

 22 Asset: Monetary authority -463.7 -95.7 0.8 0.0 -0.5 0.5 1.5 0.6 -0.9 0.7 -1.2 22

 23 Federal Reserve float -0.6 0.7 0.8 0.1 -0.5 0.4 1.7 0.1 -1.6 1.4 -0.8 23

 24 Loans -463.1 -96.4 -0.0 -0.1 0.0 0.1 -0.2 0.5 0.7 -0.7 -0.4 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) -53.5 -78.4 -309.3 -87.8 153.5 95.5 55.9 48.9 297.5 -20.3 133.8 25

 26 Due to foreign affiliates -50.2 21.5 -222.2 -199.0 103.7 9.3 -26.8 -77.9 274.2 -132.4 57.3 26

 27 - Due from foreign affiliates 3.4 99.9 87.1 -111.1 -49.8 -86.2 -82.7 -126.8 -23.3 -112.1 -76.4 27

 28 Foreign banking offices in U.S. (net) -149.6 37.0 512.1 -51.6 157.9 -124.4 145.5 69.0 -227.4 -484.8 -71.1 28

 29 Due to foreign affiliates -25.6 53.8 296.7 -90.0 143.3 -123.6 80.8 117.3 -118.4 -574.2 -152.1 29

 30 - Due from foreign affiliates 124.0 16.8 -215.4 -38.3 -14.6 0.8 -64.7 48.3 109.0 -89.4 -81.0 30

 31 Less: Deposits at foreign banks -9.6 13.6 -12.4 -2.6 -0.3 1.4 2.0 3.1 -0.0 0.6 -6.3 31

 32 U.S.-chartered depository institutions -15.3 6.9 -4.0 -3.3 0.4 0.8 4.2 1.7 -0.1 -2.7 0.2 32

 33 Foreign banking offices in U.S. 5.7 6.6 -8.4 0.7 -0.8 0.7 -2.1 1.4 0.1 3.4 -6.5 33

 34 Plus: Loans from foreign banks -8.4 -6.8 -1.3 0.8 0.5 -2.8 10.1 -8.8 -8.3 -4.0 -6.0 34

 35 U.S.-chartered depository institutions -2.0 -3.4 0.4 -0.2 -0.1 -2.3 1.6 -5.2 -3.4 -2.2 -0.5 35

 36 Foreign banking offices in U.S. -6.4 -3.4 -1.7 1.1 0.5 -0.5 8.5 -3.6 -5.0 -1.9 -5.5 36

 37 Asset: Rest of the world (1) -201.9 -61.8 213.9 -136.0 312.2 -33.2 209.4 106.0 61.8 -509.8 63.0 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) 7.5 -16.8 40.8 -29.5 38.5 -45.3 147.3 -2.1 -157.5 -168.6 247.7 38

 39 Due to (3): -1.8 -14.0 21.7 23.0 52.1 -48.5 176.4 -8.5 -179.5 -182.5 249.9 39

 40 Foreign banking offices in U.S. -18.8 -0.8 -4.9 3.1 -2.3 -1.4 19.7 20.9 -40.1 -6.1 -16.3 40

 41 Banks in U.S.-affiliated areas 1.0 -0.9 1.2 0.4 -0.2 0.6 3.2 1.4 -2.6 0.5 1.7 41

 42 Credit unions 1.6 -38.1 21.9 13.8 -2.2 -0.7 -35.9 24.6 2.6 6.1 -34.1 42

 43 - Due from: Foreign banking offices in U.S. -9.3 2.9 -19.1 52.5 13.6 -3.3 29.2 -6.4 -21.9 -13.9 2.2 43

 44 Unallocated (2) 14.5 25.8 3.5 5.7 56.8 -47.1 189.5 -55.5 -139.3 -183.0 298.6 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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F.204 Checkable Deposits and Currency

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -7.9 266.3 234.5 267.7 332.6 351.1 183.4 578.9 229.8 412.1 -205.7 1

 2 Monetary authority -117.6 185.0 -122.1 62.1 139.5 152.2 -16.3 58.8 194.4 372.0 -413.5 2

 3 Federal government cash and deposits -173.8 149.0 -255.0 7.0 69.8 61.0 -78.7 -7.4 75.8 254.4 -491.2 3

 4 Due to government-sponsored enterprises 14.0 -21.6 51.1 -37.4 -1.3 -5.8 -60.3 1.4 62.9 -27.0 3.0 4

 5 Deposits due to foreign 1.0 0.9 -3.2 6.3 1.5 -2.7 -4.0 -4.1 -2.8 0.0 -0.1 5

 6 Currency outside banks 41.2 56.7 85.0 86.2 69.5 99.7 126.6 69.0 58.5 144.6 74.8 6

 7 U.S.-chartered depository institutions 94.0 69.6 319.4 176.2 148.2 136.2 126.3 474.1 43.3 -98.7 142.4 7

 8 Federal government deposits 0.3 -0.1 -2.7 0.3 0.3 0.9 -0.5 1.0 1.9 1.2 -1.1 8

 9 Deposits due to foreign -28.7 -3.8 25.6 -4.2 -0.7 2.2 6.7 13.5 -14.7 3.3 -5.4 9

 10 Private domestic deposits 122.4 73.5 296.5 180.1 148.6 133.1 120.1 459.6 56.0 -103.1 148.8 10

 11 Foreign banking offices in U.S. 2.6 5.7 23.7 16.2 30.8 45.2 36.3 50.0 -0.0 94.4 25.6 11

 12 Deposits due to foreign 5.8 4.1 4.4 8.9 12.3 14.0 16.4 31.1 8.0 0.4 24.5 12

 13 Private domestic deposits -3.2 1.7 19.3 7.3 18.5 31.2 20.0 18.9 -8.1 94.0 1.1 13

 14 Banks in U.S.-affiliated areas 1.4 0.5 2.8 2.5 6.3 5.2 -3.5 5.2 -3.3 22.5 -1.7 14

 15 Credit unions 11.6 5.5 10.7 10.7 7.9 12.2 40.7 -9.3 -4.5 21.9 41.5 15

 16 Net change in assets -7.9 266.3 234.5 267.7 332.6 351.1 183.4 578.9 229.8 412.1 -205.7 16

 17 Household sector 101.0 38.9 305.1 176.9 121.5 113.9 311.5 222.5 -87.1 8.6 231.1 17

 18 Nonfinancial business 85.6 76.8 50.7 13.8 87.6 99.0 -115.6 257.7 121.0 132.8 8.5 18

 19 Corporate 70.8 79.6 29.7 -45.7 85.1 65.1 -130.6 221.1 93.7 76.1 -29.3 19

 20 Noncorporate 14.9 -2.7 21.0 59.5 2.5 33.9 15.0 36.6 27.3 56.8 37.7 20

 21 Federal government -174.2 148.9 -257.6 6.7 69.6 60.8 -36.0 -104.1 73.3 309.8 -450.2 21

 22 State and local governments 19.6 5.7 16.6 -9.2 7.4 16.0 8.3 1.2 17.4 37.1 -22.5 22

 23 Domestic financial sectors -30.4 -32.3 37.1 9.9 -3.6 -19.1 -65.3 37.2 91.8 -140.3 2.9 23

 24 Property-casualty insurance companies -0.3 5.0 -8.5 12.3 -6.7 5.9 14.9 5.5 3.5 -0.4 -0.6 24

 25 Life insurance companies -32.1 1.0 2.0 2.7 -9.2 3.6 14.0 -5.9 15.1 -8.5 -2.2 25

 26 Private pension funds -2.8 2.1 5.6 -1.7 0.1 1.2 1.0 3.4 0.1 0.1 1.5 26

 27 State and local govt. retirement funds -0.4 0.5 0.3 0.1 -0.0 0.4 -0.1 2.9 0.1 -1.3 0.6 27

 28 Money market mutual funds 10.5 -3.7 5.8 -3.6 -3.2 -17.6 49.1 -9.1 -93.6 -16.7 23.3 28

 29 Government-sponsored enterprises 11.1 -36.0 9.3 -20.1 29.0 -16.6 -144.7 15.6 159.9 -97.4 -46.2 29

 30 Finance companies 0.5 -1.7 5.1 -3.8 4.2 -0.2 3.2 -2.2 -4.8 3.1 1.7 30

 31 REITs 12.4 -5.7 2.5 7.7 -1.3 4.1 -4.6 18.5 2.1 0.5 1.2 31

 32 Brokers and dealers -29.4 6.2 14.9 16.3 -16.5 0.0 2.0 8.5 9.5 -19.8 23.6 32

 33 Rest of the world -9.2 29.5 81.8 68.2 50.9 79.7 119.7 66.6 14.8 117.6 65.1 33

 34 Checkable deposits -21.8 1.2 26.8 11.0 13.2 13.4 19.1 40.5 -9.5 3.6 19.1 34

 35 Currency 12.6 28.3 55.0 57.1 37.7 66.3 100.7 26.1 24.3 114.0 46.0 35

 36 Mail float -0.3 -1.1 0.8 1.5 -0.7 0.9 -39.3 97.7 -1.3 -53.6 -40.6 36
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F.205 Time and Savings Deposits

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 343.7 115.6 404.1 520.4 409.1 513.2 748.7 425.3 171.3 707.6 892.4 1

 2 Small time and savings deposits 517.2 298.3 577.4 539.6 307.0 365.0 517.3 355.7 449.6 137.3 1031.1 2

 3 U.S.-chartered depository institutions 472.3 271.7 537.1 491.5 256.7 343.8 543.0 303.3 415.5 113.5 878.0 3

 4 Foreign banking offices in U.S. 4.4 5.8 13.2 13.8 27.7 -5.9 -23.4 11.1 9.4 -20.5 167.5 4

 5 Banks in U.S.-affiliated areas -2.9 -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 5

 6 Credit unions 43.4 26.1 27.4 34.4 20.1 25.0 0.5 38.4 26.5 34.4 -7.3 6

 7 Large time deposits (1) -173.6 -182.7 -173.3 -19.2 102.1 148.2 231.4 69.6 -278.3 570.3 -138.7 7

 8 U.S.-chartered depository institutions -335.7 -133.8 -13.2 -9.1 23.9 102.5 -7.9 44.8 -373.3 746.3 28.0 8

 9 Foreign banking offices in U.S. 148.0 -46.5 -163.1 -16.2 71.1 39.7 233.4 26.3 91.3 -192.2 -167.3 9

 10 Banks in U.S.-affiliated areas -2.9 -5.2 -0.4 -0.1 2.5 2.0 -2.7 2.8 -1.9 9.9 -7.2 10

 11 Credit unions 17.0 2.8 3.4 6.2 4.7 4.1 8.5 -4.3 5.6 6.3 7.7 11

 12 Net change in assets 343.7 115.6 404.1 520.4 409.1 513.2 748.7 425.3 171.3 707.6 892.4 12

 13 Household sector 105.9 162.8 369.3 412.0 210.6 406.0 498.2 230.0 188.7 707.2 650.2 13

 14 Nonfinancial business 172.1 62.8 19.2 43.4 51.8 37.8 82.6 21.6 -105.6 152.4 105.6 14

 15 Corporate 176.9 59.9 13.2 33.3 41.0 10.6 75.1 0.3 -121.0 88.1 29.5 15

 16 Noncorporate -4.8 2.9 6.0 10.1 10.8 27.1 7.5 21.4 15.4 64.3 76.1 16

 17 Federal government 0.3 0.1 -0.3 0.2 -0.5 0.2 -0.1 -0.0 0.4 0.6 -0.5 17

 18 State and local governments 10.0 -5.9 16.5 21.8 18.6 10.4 33.8 -24.1 26.1 6.0 37.7 18

 19 Domestic financial sectors 128.6 -109.1 -48.0 5.2 76.1 11.8 69.3 60.4 76.2 -158.7 79.1 19

 20 Private pension funds 2.9 -0.6 1.6 -3.9 -0.3 1.0 1.8 3.0 -1.2 0.2 2.8 20

 21 State and local govt. retirement funds 0.9 5.4 1.6 -2.8 1.8 1.6 -1.3 -1.0 0.2 8.7 4.6 21

 22 Money market mutual funds 169.9 -107.7 -56.3 32.8 59.4 20.7 42.3 97.5 55.4 -112.6 44.9 22

 23 Government-sponsored enterprises -42.8 0.3 -12.7 -9.1 1.1 -2.1 10.3 -8.1 -1.9 -8.7 -5.4 23

 24 Finance companies 1.6 -5.2 15.4 -11.5 12.7 -0.5 9.7 -6.6 -14.5 9.3 5.2 24

 25 Holding companies -3.9 -1.3 2.4 -0.3 1.5 -8.9 6.5 -24.5 38.3 -55.8 27.0 25

 26 Rest of the world -73.3 4.9 47.3 37.9 52.5 47.0 64.9 137.5 -14.5 0.1 20.2 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

F.206 Money Market Mutual Fund Shares

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues -498.7 -503.2 -112.8 7.1 28.9 9.6 -86.3 -143.8 39.7 228.7 -47.5 1

 2 Net purchases -498.7 -503.2 -112.8 7.1 28.9 9.6 -86.3 -143.8 39.7 228.7 -47.5 2

 3 Household sector -267.5 -183.6 -19.4 0.3 25.5 -33.6 112.0 17.8 -59.4 -204.6 -19.6 3

 4 Nonfinancial corporate business -71.4 -157.7 -35.4 57.1 39.7 6.0 -128.3 -43.9 52.0 144.2 -66.8 4

 5 Nonfinancial noncorporate business -1.7 3.1 0.8 3.0 2.3 4.3 1.6 4.6 3.3 7.4 5.7 5

 6 State and local governments 10.2 14.7 1.9 5.1 2.6 12.4 12.9 18.9 3.2 14.5 33.2 6

 7 Property-casualty insurance companies -3.2 -4.0 -5.6 2.2 -2.2 -1.9 -10.0 5.3 1.5 -4.3 -0.3 7

 8 Life insurance companies -5.5 -12.7 7.9 -1.4 -5.9 6.1 -1.1 -1.2 6.4 20.5 -4.5 8

 9 Private pension funds -9.6 -10.2 16.5 -17.1 2.2 -0.7 -6.1 11.4 -8.3 0.3 -7.0 9

 10 State and local govt. retirement funds -3.4 2.3 0.5 -3.4 2.6 2.3 -2.6 0.3 -2.5 14.1 2.9 10

 11 Funding corporations -153.7 -148.0 -84.6 -61.4 -49.3 11.9 -61.2 -153.4 38.1 224.3 10.8 11

 12 Rest of the world 7.2 -7.1 4.6 22.6 11.3 2.6 -3.6 -3.6 5.4 12.3 -1.9 12
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F.207 Federal Funds and Security Repurchase Agreements (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -344.9 421.3 276.3 251.3 -473.0 42.6 316.3 160.0 -389.5 83.7 209.8 1

 2 Monetary authority -10.6 -18.0 40.2 7.3 208.7 193.9 100.4 461.9 -185.5 398.8 108.1 2

 3 U.S.-chartered depository institutions -195.0 -48.1 -81.5 -52.6 -80.5 -33.2 55.5 -45.3 -88.0 -55.0 -30.0 3

 4 Federal funds (2) ND ND ND ND -11.0 -19.7 25.4 -0.1 -38.5 -65.4 -39.8 4

 5 Security repurchase agreements ND ND ND ND -69.5 -13.5 30.1 -45.2 -49.5 10.4 9.8 5

 6 Foreign banking offices in U.S. 63.5 54.8 54.4 20.6 -12.3 58.6 153.2 44.9 44.9 -8.8 -21.5 6

 7 Federal funds (2) 77.2 -75.7 -9.9 -2.6 -2.6 8.3 30.2 -8.6 37.9 -26.2 45.4 7

 8 Security repurchase agreements -13.7 130.6 64.3 23.3 -9.7 50.2 123.0 53.5 7.0 17.5 -67.0 8

 9 Credit unions -0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 9

 10 Property-casualty insurance companies -1.7 0.8 -1.1 0.4 1.4 1.0 1.0 1.3 0.8 0.8 0.5 10

 11 Life insurance companies -0.5 -2.2 0.1 3.1 -0.8 1.0 0.8 -0.5 1.9 1.9 3.3 11

 12 Government-sponsored enterprises -0.1 0.1 -0.9 -0.4 0.0 0.1 0.1 -0.1 0.0 0.2 0.1 12

 13 REITs 11.1 29.9 97.7 102.4 -66.6 7.3 -53.2 36.8 -1.8 47.3 -11.7 13

 14 Brokers and dealers -296.8 195.9 70.5 131.2 -439.3 -220.9 -223.8 -141.9 -283.3 -234.4 -49.8 14

 15 Holding companies -0.2 0.2 0.4 -1.2 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.1 15

 16 Rest of the world 86.0 207.9 96.4 40.4 -83.5 34.9 282.3 -197.2 121.5 -67.2 210.8 16

 17 Net change in assets -553.5 366.7 206.1 257.6 -311.2 183.7 356.3 483.8 -404.6 299.3 239.6 17

 18 Nonfinancial corporate business 0.7 4.3 0.4 -2.9 -0.9 4.7 10.1 8.7 -0.2 0.1 -2.6 18

 19 State and local governments -4.0 -0.6 -4.9 4.5 2.6 10.3 10.7 15.5 3.0 12.0 27.0 19

 20 Monetary authority -80.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 U.S.-chartered depository institutions -308.2 0.7 -25.0 60.1 -87.2 -30.4 -54.6 2.8 -25.8 -43.9 120.3 21

 22 Federal funds (2) ND ND ND ND -11.1 -16.4 9.5 5.7 -21.2 -59.6 -20.6 22

 23 Security repurchase agreements ND ND ND ND -76.2 -14.0 -64.1 -2.9 -4.6 15.7 140.9 23

 24 Foreign banking offices in U.S. 0.1 20.3 31.7 58.2 -1.2 41.1 92.7 111.7 -37.8 -2.5 -73.4 24

 25 Federal funds (2) -2.3 -1.8 1.5 -0.8 -1.7 -0.0 1.9 0.9 -1.2 -1.7 -0.8 25

 26 Security repurchase agreements 2.4 22.1 30.2 58.9 0.5 41.1 90.8 110.8 -36.6 -0.7 -72.5 26

 27 Credit unions 0.0 -0.1 15.9 -6.2 -9.6 -0.0 6.7 4.1 0.9 -11.8 7.1 27

 28 Federal funds ND ND 15.9 -6.3 -9.6 0.0 0.6 -0.6 0.0 0.0 0.0 28

 29 Security repurchase agreements ND ND 0.0 0.1 -0.0 -0.1 0.0 0.0 -0.1 -0.1 0.2 29

 30 Property-casualty insurance companies 0.1 -0.7 -2.1 0.0 0.0 0.0 -0.7 0.6 0.3 -0.2 -0.0 30

 31 Life insurance companies 2.2 0.7 -0.8 -1.6 -0.0 0.0 -2.5 -2.3 0.3 4.5 -5.5 31

 32 Private pension funds 0.2 -0.2 0.0 -0.3 -0.1 0.1 0.2 0.3 -0.1 0.1 0.3 32

 33 State and local govt. retirement funds -0.1 0.3 0.1 -0.2 0.1 0.2 -0.1 -0.1 0.0 0.8 0.5 33

 34 Money market mutual funds -62.4 -0.6 11.1 54.2 -51.3 151.2 195.0 167.2 -34.3 276.9 79.2 34

 35 Mutual funds 28.6 -15.8 -28.8 54.1 92.9 46.3 104.7 168.5 -115.0 27.0 18.4 35

 36 Government-sponsored enterprises 7.5 20.7 -38.9 38.6 1.5 10.3 -100.1 28.2 -93.5 206.8 -17.9 36

 37 Of which: FHLB federal funds (3) 14.3 21.3 -34.7 2.9 -14.5 23.3 64.1 -39.9 17.2 51.7 -40.9 37

 38 Brokers and dealers -103.3 243.4 154.6 55.1 -317.2 -168.2 -190.8 -172.0 -39.4 -270.7 -55.8 38

 39 Holding companies 19.8 2.1 0.2 -49.3 -2.8 -5.1 -0.4 7.7 -5.4 -22.4 12.9 39

 40 Funding corporations 0.1 0.0 0.0 0.0 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world -54.8 92.4 92.6 -6.6 62.1 123.3 285.5 142.9 -57.6 122.4 129.0 41

 42 Discrepancy 208.6 54.6 70.2 -6.3 -161.8 -141.1 -40.0 -323.8 15.1 -215.5 -29.8 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations: (4)

 43 Liability: Monetary authority (5) 0.0 0.0 0.0 0.0 197.8 199.0 177.3 389.6 -157.9 386.8 -72.9 43

 44 Asset: Money market mutual funds (6) 0.0 0.0 0.0 0.0 163.3 207.9 234.8 334.2 -44.7 307.4 -103.8 44

 45 Other financial institutions (7) 0.0 0.0 0.0 0.0 34.5 -9.0 -57.5 55.5 -113.3 79.4 31.0 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 32.

(7) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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F.208 Open Market Paper

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total net issues, all types -461.8 -80.4 -88.3 -16.9 -0.8 -21.2 55.6 122.7 -135.3 -128.0 -68.8 1

 2 Commercial paper -461.9 -79.9 -88.2 -16.8 -0.8 -21.2 55.6 122.7 -135.3 -128.0 -68.8 2

 3 Nonfinancial corporate business -73.1 24.5 33.4 14.0 14.2 37.9 75.0 57.8 22.2 -3.2 -70.6 3

 4 Foreign issues in U.S. 59.4 -2.7 -53.5 27.9 34.0 -22.6 63.8 33.9 -205.9 17.7 149.8 4

 5 Nonfinancial -15.2 -3.8 -0.5 10.3 11.2 -6.5 28.1 -1.3 -17.8 -35.1 46.9 5

 6 Financial 74.5 1.1 -53.0 17.6 22.8 -16.1 35.7 35.2 -188.1 52.8 103.0 6

 7 Domestic financial sectors -448.2 -101.7 -68.1 -58.7 -48.9 -36.6 -83.2 30.9 48.5 -142.5 -148.1 7

 8 U.S.-chartered depository institutions 0.0 -19.7 7.7 -33.1 -27.8 -5.2 -5.2 -9.6 -5.0 -0.9 -21.9 8

 9 ABS issuers -266.2 -40.3 -24.1 -9.0 -7.1 -15.1 -32.0 24.1 -15.5 -37.1 -20.2 9

 10 Finance companies -38.8 1.7 10.0 8.2 -10.3 -1.1 -16.2 3.4 20.0 -11.4 -13.6 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies -18.1 3.9 11.1 6.2 -19.9 -19.6 -27.5 6.5 -37.7 -19.7 -28.0 12

 13 Funding corporations -125.1 -47.4 -72.7 -30.9 16.2 4.3 -2.4 6.5 86.8 -73.5 -64.4 13

 14 Bankers’ acceptances (1) 0.1 -0.5 -0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions 0.1 -0.5 -0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Net purchases, by sector -461.8 -80.4 -88.3 -16.9 -0.8 -21.2 55.6 122.7 -135.3 -128.0 -68.8 17

 18 Household sector 16.7 -1.5 -1.8 -0.6 -3.8 -0.1 3.5 0.9 -0.6 -4.2 1.4 18

 19 Nonfinancial corporate business -1.3 12.0 -0.1 -8.4 -21.3 -6.6 -4.9 -19.7 4.2 -5.9 3.7 19

 20 State and local governments -38.8 13.5 -12.3 -7.3 -8.8 -5.0 -4.1 -2.0 -9.1 -4.7 2.4 20

 21 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S.-chartered depository institutions (1) -15.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Property-casualty insurance companies -9.3 -1.9 0.9 -1.4 0.7 -0.1 -3.4 2.8 1.3 -1.2 -0.1 25

 26 Life insurance companies 11.5 -8.9 -11.2 13.9 3.2 -4.6 -3.2 -16.9 -18.4 20.2 14.6 26

 27 Private pension funds 1.7 -2.0 2.4 -4.9 -3.3 1.8 4.1 2.7 -0.2 0.5 5.8 27

 28 State and local govt. retirement funds -0.9 4.5 1.5 -3.4 2.3 1.8 1.1 -2.1 1.5 6.6 8.4 28

 29 Money market mutual funds -108.0 -116.3 -40.0 -13.3 11.2 -18.5 5.9 20.7 -46.0 -54.5 25.6 29

 30 Mutual funds 28.6 -13.9 -26.3 27.6 27.7 15.3 -106.3 68.7 17.3 81.6 -148.8 30

 31 Government-sponsored enterprises 3.0 0.2 -3.4 -3.1 1.0 1.5 1.3 3.6 1.2 -0.1 -1.4 31

 32 Brokers and dealers -24.2 -5.3 5.9 -12.2 -1.3 -7.8 22.8 -7.8 -46.1 -0.1 3.4 32

 33 Funding corporations -276.8 50.0 -4.6 -3.7 -6.9 -6.4 118.5 29.5 -52.6 -120.8 -19.6 33

 34 Rest of the world -48.4 -10.7 0.7 -0.1 -1.4 7.4 20.2 42.4 12.3 -45.4 35.8 34

(1) Excludes banks’ holdings of own acceptances.
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F.209 Treasury Securities

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 1443.7 1579.6 1066.8 1140.6 759.5 667.2 743.0 314.3 913.8 697.9 -52.8 1

 2 U.S. savings securities (1) -2.8 -3.3 -2.7 -2.8 -3.3 -3.3 -3.3 -3.0 -3.5 -3.2 -3.9 2

 3 Treasury bills -73.3 -19.0 -249.5 107.0 -35.9 -133.9 238.7 -1055.3 92.9 188.3 79.4 3

 4 Other Treasury securities 1519.8 1601.8 1319.0 1036.3 798.7 804.4 507.6 1372.7 824.3 512.9 -128.3 4

 5 Net purchases 1443.7 1579.6 1066.8 1140.6 759.5 667.2 743.0 314.3 913.8 697.9 -52.8 5

 6 Household sector 532.6 317.2 -215.3 215.4 -194.3 -174.7 -351.2 -435.7 25.6 62.6 -309.2 6

 7 U.S. savings securities (1) -2.8 -3.3 -2.7 -2.8 -3.3 -3.3 -3.3 -3.0 -3.5 -3.2 -3.9 7

 8 Bills and other Treasury securities 535.4 320.5 -212.6 218.2 -191.0 -171.4 -347.9 -432.7 29.1 65.8 -305.2 8

 9 Nonfinancial corporate business 12.5 5.1 -5.1 -3.5 3.3 -4.5 -7.8 -1.0 -2.3 -7.0 5.2 9

 10 Nonfinancial noncorporate business -5.7 1.9 0.8 4.0 1.5 2.8 1.1 3.0 2.2 4.9 3.7 10

 11 State and local governments -16.4 9.4 -34.9 45.3 -13.8 68.6 41.9 107.6 29.9 94.9 200.6 11

 12 Monetary authority 300.7 244.9 642.0 2.7 542.6 252.6 498.9 310.2 184.4 16.9 48.4 12

 13 Treasury bills 0.0 0.0 0.0 -18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Other Treasury securities 300.7 244.9 642.0 21.1 542.6 252.6 498.9 310.2 184.4 16.9 48.4 14

 15 U.S.-chartered depository institutions 68.1 93.0 -43.7 69.3 -26.1 203.3 174.0 175.1 216.7 247.3 -5.8 15

 16 Foreign banking offices in U.S. 22.0 3.5 -0.5 16.1 -9.6 -10.5 -2.9 -3.0 -20.7 -15.5 -3.2 16

 17 Banks in U.S.-affiliated areas -0.7 0.6 -0.0 -0.6 0.7 0.2 0.6 -1.9 1.7 0.3 0.6 17

 18 Credit unions 5.4 5.9 -2.5 1.7 -0.2 2.5 5.2 3.6 19.7 -18.6 2.6 18

 19 Property-casualty insurance companies 22.9 3.2 4.6 -6.7 6.4 5.9 -5.5 13.7 12.1 3.4 -1.8 19

 20 Treasury bills 5.0 -0.3 1.9 -3.3 9.4 3.3 -6.8 12.1 7.9 0.1 -0.4 20

 21 Other Treasury securities 18.0 3.5 2.7 -3.4 -3.0 2.6 1.3 1.6 4.2 3.4 -1.4 21

 22 Life insurance companies 27.7 23.2 18.8 5.5 -12.2 14.3 13.4 13.8 13.6 16.2 41.5 22

 23 Treasury bills -6.3 -3.6 3.8 -4.5 -2.8 2.0 -0.3 -0.3 2.1 6.5 -1.3 23

 24 Other Treasury securities 34.0 26.8 15.0 10.0 -9.4 12.3 13.7 14.1 11.6 9.7 42.8 24

 25 Private pension funds 32.8 31.2 27.0 44.4 36.4 19.6 14.8 18.6 25.5 19.3 42.6 25

 26 Federal government retirement funds 7.4 10.1 23.4 12.1 12.4 18.0 12.1 8.3 21.1 30.7 -237.8 26

 27 State and local govt. retirement funds 24.8 10.7 9.2 12.9 12.6 8.8 3.3 4.2 9.6 18.2 35.3 27

 28 Money market mutual funds -171.3 -71.0 107.9 14.5 30.2 -75.3 -143.2 -242.7 128.8 -44.2 57.9 28

 29 Treasury bills -160.2 -84.0 29.1 19.1 6.6 -48.5 -119.0 -176.7 128.6 -26.9 -112.7 29

 30 Other Treasury securities -11.0 13.0 78.8 -4.7 23.6 -26.8 -24.1 -66.0 0.2 -17.3 170.6 30

 31 Mutual funds 74.0 123.0 65.8 120.8 55.0 119.5 145.3 84.2 140.6 107.9 212.5 31

 32 Treasury bills 0.0 4.2 -3.2 11.7 -9.5 -0.5 23.3 -45.8 1.2 19.2 -37.6 32

 33 Other Treasury securities 74.0 118.8 69.0 109.1 64.5 120.1 122.0 130.0 139.4 88.8 250.1 33

 34 Closed-end funds 1.2 0.7 -0.3 0.3 0.6 -0.2 0.3 0.3 -0.5 -1.0 -0.4 34

 35 Exchange-traded funds 14.7 9.2 11.4 1.2 -6.5 13.0 8.7 15.0 5.3 23.0 12.2 35

 36 Government-sponsored enterprises 19.9 45.9 17.6 -31.2 -9.9 5.2 24.4 -2.8 2.1 -3.0 30.0 36

 37 ABS issuers -18.3 -13.8 -10.9 -5.8 1.0 0.8 2.5 -3.2 3.6 0.4 -3.4 37

 38 Brokers and dealers -67.6 -28.5 89.1 63.0 -110.5 -75.9 -64.1 -57.8 -65.3 -116.3 61.2 38

 39 Holding companies 2.7 13.8 7.1 -30.6 8.5 -2.8 -0.4 20.9 8.7 -40.4 -14.4 39

 40 Rest of the world 554.4 740.4 355.3 589.7 431.3 276.1 371.7 283.7 151.3 297.8 -231.2 40

 41 Treasury bills -7.6 -40.2 -62.6 14.0 24.4 -14.7 4.4 -206.0 -81.6 224.5 109.2 41

 42 Other Treasury securities 562.0 780.5 417.9 575.8 406.9 290.8 367.3 489.7 232.8 73.3 -340.4 42

 Memo:

 43 Federal government borrowing (2) 1443.9 1580.2 1067.9 1140.2 759.1 667.1 741.0 314.4 913.1 700.0 -53.8 43

(1) Includes U.S. savings bonds, U.S. individual retirement bonds, U.S. retirement plan bonds, U.S. savings stamps, and matured U.S. savings securities.

(2) Total issues of Treasury securities (line 1) plus budget agency securities (table F.210, line 2) and federal mortgage borrowing (table F.217, line 11).
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F.210 Agency- and GSE-Backed Securities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net issues -59.9 -46.2 -20.8 -22.8 239.5 150.5 -280.0 184.8 225.2 471.9 -165.4 1

 2 Budget agencies 0.1 0.7 1.1 -0.4 -0.4 -0.1 -1.9 0.1 -0.7 2.1 -1.0 2

 3 Government-sponsored enterprises -518.4 -233.8 -187.2 -154.6 107.5 75.3 -355.5 156.9 142.5 357.3 -163.5 3

 4 Agency- and GSE-backed mortgage pools 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 4

 5 Net purchases -59.9 -46.2 -20.8 -22.8 239.5 150.5 -280.0 184.8 225.2 471.9 -165.4 5

 6 Household sector -671.6 -10.2 -11.0 -111.8 -75.4 -89.6 -386.4 31.1 -73.4 70.2 -44.2 6

 7 Nonfinancial corporate business 4.2 1.7 -1.7 -1.2 -2.9 2.5 5.4 7.7 -0.8 -2.3 1.7 7

 8 Federal government 142.0 -47.2 -118.1 -31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments 11.0 25.6 -14.6 -17.7 -25.9 -15.0 -27.2 -2.7 -25.5 -4.7 -17.3 9

 10 Monetary authority 1048.5 71.4 -197.9 61.8 543.9 228.1 412.3 228.4 115.5 156.3 -26.8 10

 11 U.S.-chartered depository institutions 168.0 110.1 106.9 35.5 47.7 43.0 54.9 19.6 89.0 8.4 218.9 11

 12 Foreign banking offices in U.S. -19.3 -4.8 4.0 1.5 -6.7 -4.9 -11.5 -6.3 -1.9 0.1 -4.7 12

 13 Banks in U.S.-affiliated areas -3.9 -7.7 -8.0 -2.2 -0.8 -0.1 -0.4 0.1 -0.0 -0.2 -1.0 13

 14 Credit unions 27.8 40.9 30.6 14.9 2.2 -11.7 -15.3 -4.4 -10.4 -16.7 -20.7 14

 15 Property-casualty insurance companies 1.9 -0.4 6.9 -8.4 -4.9 -4.2 -6.2 -5.7 -1.9 -3.1 -1.9 15

 16 Life insurance companies 5.8 4.0 -1.6 -13.5 -6.8 -15.0 -12.5 -10.1 -15.8 -21.5 -2.1 16

 17 Private pension funds -6.5 6.5 4.3 22.1 15.4 -1.1 -5.4 16.4 -6.7 -8.4 -4.5 17

 18 Federal government retirement funds 0.0 0.6 0.7 1.5 -1.7 -0.4 -2.9 0.7 -0.1 0.6 0.0 18

 19 State and local govt. retirement funds -3.8 0.9 11.0 11.5 6.8 -4.8 -2.3 8.2 10.5 -35.8 -40.3 19

 20 Money market mutual funds -213.1 -140.2 0.9 -60.2 17.7 23.4 -49.7 -13.9 49.9 107.2 -143.8 20

 21 Mutual funds 50.0 76.4 115.0 89.2 -24.0 -30.1 -61.9 -145.5 31.9 54.8 -37.2 21

 22 Government-sponsored enterprises -27.4 -85.1 -18.1 -48.3 -22.7 7.8 -17.2 8.1 18.9 21.4 -12.3 22

 23 ABS issuers -224.2 -96.0 -3.3 -0.0 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 REITs 15.6 38.2 104.7 109.5 -95.6 7.8 -35.4 44.1 -21.4 44.0 -33.7 24

 25 Brokers and dealers -131.8 38.9 -2.1 21.9 -55.4 7.7 -3.3 3.4 -30.0 60.8 9.5 25

 26 Holding companies -7.0 -3.2 12.0 -24.3 13.5 0.0 -7.4 1.2 3.0 3.2 12.3 26

 27 Rest of the world -226.0 -66.6 -41.6 -73.6 -84.7 7.2 -107.4 4.4 94.3 37.7 -17.3 27

(1) Agency- and GSE-backed securities include: issues of federal budget agencies (line 2) such as those for the TVA; issues of government-sponsored enterprises (line 3) such as Fannie Mae and FHLB;

 and agency- and GSE-backed mortgage pool securities issued by GNMA, Fannie Mae, Freddie Mac, and the Farmers Home Administration (line 4). Only the budget agency issues are considered

 officially to be part of the total borrowing of the federal government, which is shown in table F.209, line 43.
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F.211 Municipal Securities and Loans

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 155.3 99.7 -52.8 -4.9 -43.2 -18.8 -38.0 15.7 -88.5 35.5 170.0 1

 2 State and local governments 112.2 68.7 -53.6 -5.7 -39.4 -14.0 -39.0 35.2 -84.0 31.7 139.8 2

 3 Short-term (1) 7.8 -0.7 -10.6 3.8 -10.9 -6.7 -5.0 16.0 -33.5 -4.1 2.1 3

 4 Long-term 104.4 69.3 -42.9 -9.4 -28.6 -7.4 -34.0 19.2 -50.5 35.9 137.7 4

 5 Nonprofit organizations (2) 5.9 -2.2 -7.8 -14.5 -13.1 -4.8 -1.0 -2.3 -9.8 -6.0 -0.4 5

 6 Nonfinancial corporate business 37.2 33.2 8.5 15.2 9.3 -0.1 2.0 -17.2 5.2 9.7 30.6 6

 (industrial revenue bonds)

 7 Net change in assets 155.3 99.7 -52.8 -4.9 -43.2 -18.8 -38.0 15.7 -88.5 35.5 170.0 7

 8 Household sector 107.1 43.6 -65.7 -144.6 -55.2 -66.0 -56.5 -21.4 -161.7 -24.2 13.0 8

 9 Nonfinancial corporate business 0.9 -3.2 -1.6 0.6 -1.1 -8.6 -14.3 -8.5 -11.5 0.0 7.3 9

 10 Nonfinancial noncorporate business 0.2 0.5 0.3 0.2 0.2 0.3 0.1 0.3 0.3 0.6 0.4 10

 11 State and local governments 1.0 1.4 0.2 0.2 0.0 0.8 0.9 1.4 0.1 1.0 2.5 11

 12 U.S.-chartered depository institutions 2.4 30.3 42.6 67.8 53.8 32.7 37.7 17.4 34.5 41.0 68.5 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Banks in U.S.-affiliated areas 0.9 -0.9 0.9 -0.8 0.9 -0.9 -0.6 -2.8 -0.3 0.3 0.2 14

 15 Credit unions 0.0 0.0 3.2 1.0 0.3 -0.8 -0.1 1.6 0.2 -4.8 0.6 15

 16 Property-casualty insurance companies -12.6 -21.0 -17.4 -2.9 -1.7 -4.7 -10.4 -9.2 2.2 -1.6 -5.7 16

 17 Life insurance companies 26.1 39.2 9.4 9.7 10.1 6.2 5.1 9.6 6.8 3.3 1.3 17

 18 State and local govt. retirement funds 0.1 0.8 -0.6 0.2 0.8 -0.7 -1.5 -0.8 -0.6 0.1 -0.1 18

 19 Money market mutual funds -69.4 -53.4 -29.4 -20.6 -28.3 -26.7 -13.9 -31.0 -1.1 -60.7 1.3 19

 20 Mutual funds 89.4 46.7 15.7 86.2 -13.5 43.8 17.3 48.7 51.1 57.9 59.4 20

 21 Closed-end funds 3.3 0.4 0.9 3.4 -1.6 0.5 3.6 2.5 -6.3 2.2 -0.6 21

 22 Exchange-traded funds 3.6 1.7 1.0 3.6 -0.8 3.2 1.5 3.1 3.3 4.8 5.6 22

 23 Government-sponsored enterprises -2.2 -4.2 -3.9 -4.1 -3.5 -2.6 -3.0 -2.1 -3.0 -2.4 -3.6 23

 24 Brokers and dealers -3.3 4.6 -9.1 -4.3 -8.0 0.2 -7.1 5.3 -8.0 10.6 7.1 24

 25 Rest of the world 7.7 13.1 0.6 -0.6 4.3 4.4 3.2 1.5 5.5 7.3 12.8 25

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.101 and L.101).
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F.212 Corporate and Foreign Bonds

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net issues -55.6 -239.6 106.4 222.9 390.1 480.8 360.9 674.8 550.3 337.2 530.6 1

 2 Nonfinancial corporate business 215.6 179.3 162.0 323.5 279.8 264.9 286.7 235.4 198.4 339.1 449.7 2

 3 Domestic financial sectors -448.5 -546.3 -237.4 -225.2 -84.1 68.6 26.0 89.6 61.4 97.3 -27.8 3

 4 U.S.-chartered depository institutions -28.5 -49.2 2.4 -82.3 -74.9 -12.0 -27.2 -10.1 -11.9 1.0 -57.5 4

 5 ABS issuers (net) (1) -347.9 -373.6 -150.1 -136.0 -227.5 -53.3 -133.8 -114.6 12.6 22.8 -53.5 5

 6 Finance companies -87.0 -111.7 -39.4 -81.3 4.4 19.4 -10.2 38.2 2.9 46.7 55.2 6

 7 REITs -26.6 1.0 7.6 26.7 173.6 53.2 115.5 55.1 38.2 4.0 11.9 7

 8 Brokers and dealers -4.2 36.9 -37.9 -1.7 22.2 11.5 41.3 -37.4 42.1 -0.1 -65.9 8

 9 Holding companies 7.8 -46.5 -91.6 14.1 6.7 27.6 48.1 87.3 -14.2 -10.9 -17.5 9

 10 Funding corporations 37.9 -3.2 71.6 35.3 11.4 22.2 -7.6 71.1 -8.4 33.8 99.5 10

 11 Rest of the world (2) 177.2 127.4 181.7 124.7 194.4 147.3 48.2 349.8 290.6 -99.2 108.7 11

 12 Net purchases (3) -55.6 -239.6 106.4 222.9 390.1 480.8 360.9 674.8 550.3 337.2 530.6 12

 13 Household sector 97.6 -422.2 91.7 -178.3 -227.8 -131.9 -132.9 35.2 -45.4 -384.7 -443.7 13

 14 Federal government 0.6 0.3 -0.1 -0.2 -0.1 -0.0 -0.0 -0.1 0.0 0.0 0.0 14

 15 State and local governments 3.7 8.4 -2.4 3.1 0.4 10.3 11.0 17.0 0.9 12.4 31.4 15

 16 U.S.-chartered depository institutions 25.1 -98.2 2.5 -9.0 15.2 -37.4 -75.8 2.1 -82.4 6.4 2.9 16

 17 MBS and other ABS -47.7 -88.1 -24.8 -1.0 -1.3 -8.6 -23.3 4.9 -16.2 0.1 -5.4 17

 18 Other 72.9 -10.2 27.3 -8.0 16.5 -28.8 -52.4 -2.8 -66.2 6.3 8.3 18

 19 Foreign banking offices in U.S. -157.8 -9.4 -1.4 -6.2 -34.1 0.9 16.6 1.2 -7.7 -6.4 -25.9 19

 20 Banks in U.S.-affiliated areas 1.5 -1.4 3.6 1.0 0.6 -0.4 2.5 -0.6 -2.3 -1.4 0.1 20

 21 Credit unions -6.7 -15.7 -0.3 0.3 2.2 1.0 2.6 0.2 -3.0 4.3 5.1 21

 22 MBS and other ABS 0.3 -0.7 -0.3 0.7 2.1 1.0 2.6 0.3 -2.6 3.9 5.0 22

 23 Other -7.0 -15.0 -0.1 -0.4 0.1 -0.0 0.1 -0.1 -0.4 0.4 0.0 23

 24 Property-casualty insurance companies 30.8 24.3 40.4 19.6 28.1 17.0 9.5 11.0 26.0 21.3 -7.6 24

 25 MBS and other ABS 0.0 0.0 -0.6 3.2 8.3 9.3 8.9 9.2 9.4 9.7 -2.4 25

 26 Other 30.8 24.3 41.1 16.4 19.8 7.7 0.6 1.8 16.6 11.6 -5.1 26

 27 Life insurance companies 97.6 102.9 87.1 45.0 60.8 69.3 92.7 109.9 63.2 11.3 65.0 27

 28 MBS and other ABS 0.0 0.0 0.0 -24.3 9.1 15.8 15.1 15.9 16.1 16.2 -9.0 28

 29 Other 97.6 102.9 87.1 69.3 51.8 53.5 77.6 94.0 47.2 -4.9 74.0 29

 30 Private pension funds -16.0 82.1 44.5 83.8 5.5 13.0 -18.8 37.7 23.0 10.2 10.4 30

 31 Federal government retirement funds -0.0 0.2 1.4 1.7 -1.3 -0.7 -3.1 0.4 -0.4 0.4 1.1 31

 32 State and local govt. retirement funds -100.5 5.9 -13.2 -16.9 57.7 29.5 16.3 25.1 62.0 14.7 0.7 32

 33 Money market mutual funds -58.1 -15.7 -49.1 -3.0 -0.0 -23.8 -52.8 -89.6 18.8 28.6 -43.0 33

 34 Mutual funds 143.8 122.3 170.3 306.0 279.3 318.9 274.9 453.3 240.3 307.1 374.0 34

 35 Closed-end funds 6.0 4.1 -2.3 7.5 14.6 -4.0 -2.8 -0.1 -3.8 -9.5 -0.4 35

 36 Exchange-traded funds 27.6 18.7 33.6 47.6 19.5 34.8 33.6 30.2 15.8 59.7 59.4 36

 37 Government-sponsored enterprises -48.6 -29.6 -30.8 -50.0 -59.4 -30.8 -24.8 -42.9 -31.8 -24.0 -38.6 37

 38 MBS and other ABS -50.2 -46.5 -32.2 -31.2 -58.8 -30.2 -24.3 -42.0 -31.1 -23.2 -37.8 38

 39 Other 1.6 17.0 1.4 -18.8 -0.6 -0.7 -0.5 -0.8 -0.7 -0.8 -0.8 39

 40 Finance companies 6.3 -19.8 0.9 -6.3 -10.8 6.1 15.6 2.5 -10.1 16.3 8.4 40

 41 REITs 4.3 7.2 3.8 9.5 -0.2 3.3 6.0 -2.7 3.7 6.4 18.3 41

 42 Brokers and dealers 47.5 35.2 -85.0 35.5 -11.1 -13.5 -3.3 28.3 -4.5 -74.4 -29.9 42

 43 Holding companies -8.4 7.3 -20.1 -11.9 37.0 2.6 -6.9 5.4 25.7 -13.8 -19.8 43

 44 Funding corporations -24.7 -9.8 -57.3 -36.2 8.9 4.7 48.4 -19.2 -4.5 -5.9 13.9 44

 45 Rest of the world (4) -127.3 -36.8 -111.5 -19.7 205.2 211.9 152.3 70.4 266.7 358.3 549.0 45

 46 MBS and other ABS -167.4 -45.5 -44.8 -36.1 -22.5 -7.8 -7.1 -5.6 -31.6 13.3 -6.8 46

 47 Other 40.1 8.8 -66.7 16.4 227.7 219.7 159.4 76.0 298.3 345.0 555.8 47

(1) Net issuance less net acquisition of corporate bonds held as assets.

(2) Net purchases of foreign issues by U.S. residents.

(3) For some sectors, purchases of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately

 issued asset-backed bonds.

(4) Net purchases of U.S. issues by foreign residents.
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F.213 Corporate Equities (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net issues 328.4 19.9 -283.6 -73.3 84.8 269.2 -139.7 391.8 254.7 569.9 315.1 1

 2 Nonfinancial corporate business -51.2 -250.7 -454.6 -344.9 -352.9 -387.5 -501.8 -273.1 -434.3 -341.0 -541.7 2

 3 Domestic financial sectors 315.9 191.4 164.1 168.3 162.5 219.6 37.1 298.9 177.1 365.1 315.1 3

 4 U.S.-chartered depository institutions 11.6 11.9 6.4 1.6 2.2 2.7 2.5 4.3 2.8 1.2 24.0 4

 5 Property-casualty insurance companies -5.3 -12.7 -10.7 -14.5 -7.6 -16.9 -17.9 -9.4 -22.2 -17.9 -15.6 5

 6 Life insurance companies -0.9 -4.8 -11.5 -9.9 -9.2 -14.9 -14.3 -11.8 -17.6 -16.0 -10.9 6

 7 Closed-end funds 7.1 0.5 -2.9 2.6 -2.6 -10.6 6.4 9.2 -10.0 -48.2 -11.3 7

 8 Exchange-traded funds 116.5 118.0 117.6 185.2 179.0 239.2 57.3 229.6 192.8 477.0 220.5 8

 9 REITs 24.2 28.2 37.5 47.6 46.2 32.7 18.9 46.9 30.4 34.7 53.9 9

 10 Government-sponsored enterprises 96.0 38.1 29.2 14.5 2.4 -0.5 -5.9 0.0 2.8 1.0 -5.0 10

 11 Brokers and dealers -32.4 -11.1 14.1 -50.7 -31.0 -11.7 -7.1 -0.1 -0.5 -39.1 10.4 11

 12 Holding companies 68.6 19.8 2.9 0.6 -17.1 -0.3 -2.7 30.3 -1.3 -27.6 48.9 12

 13 Funding corporations (2) 30.5 3.5 -18.4 -8.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Rest of the world (3) 63.7 79.2 7.0 103.3 275.2 437.1 325.0 365.9 511.9 545.8 541.8 14

 15 Net purchases 328.4 19.9 -283.6 -73.3 84.8 269.2 -139.7 391.8 254.7 569.9 315.1 15

 16 Household sector -17.8 -183.9 -294.2 -194.7 -30.7 28.5 -418.6 316.1 -164.9 381.4 367.0 16

 17 Federal government 0.6 24.1 40.3 -13.2 -4.8 -1.6 -0.6 -1.1 -4.2 -0.7 -0.4 17

 18 State and local governments -2.1 0.3 -3.5 1.6 0.2 5.5 5.9 9.1 0.5 6.6 16.8 18

 19 Monetary authority 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 U.S.-chartered depository institutions 6.3 -1.8 1.0 -10.5 0.8 0.7 -2.5 -0.7 1.6 4.3 -1.7 20

 21 Foreign banking offices in U.S. 0.0 0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Property-casualty insurance companies -2.8 -20.9 2.9 4.6 3.7 2.6 2.4 -12.6 3.7 16.8 -2.4 22

 23 Life insurance companies 33.4 12.7 33.2 16.1 13.7 28.1 29.7 70.7 2.5 9.4 44.1 23

 24 Private pension funds -91.2 22.7 -60.2 -18.5 4.2 -6.8 16.3 2.2 -27.3 -18.6 -20.3 24

 25 Federal government retirement funds 8.8 5.4 -4.2 -4.1 9.1 4.2 7.2 -0.3 6.3 3.7 4.9 25

 26 State and local govt. retirement funds 1.4 -78.6 -60.4 -77.4 -166.6 -175.1 -191.4 -178.9 -170.5 -159.5 -187.3 26

 27 Mutual funds 86.5 44.3 4.9 -38.1 162.5 75.3 131.6 73.8 124.4 -28.7 67.1 27

 28 Closed-end funds -3.4 -4.7 -1.2 -8.5 -16.1 -6.9 5.3 6.4 0.6 -39.9 -9.9 28

 29 Exchange-traded funds 70.5 88.3 71.6 132.9 166.8 188.2 13.5 181.4 168.4 389.4 143.4 29

 30 Brokers and dealers -4.6 -18.5 -5.0 9.7 18.6 8.7 -85.5 32.0 53.8 34.6 -103.9 30

 31 Funding corporations 25.1 1.3 -26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Rest of the world (4) 192.7 127.8 44.0 126.8 -76.6 118.0 346.9 -106.3 260.1 -28.9 -2.3 32

(1) Excludes mutual fund shares shown on table F.214.

(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.214 Mutual Fund Shares (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net issues 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 1

 2 Net purchases 497.1 370.1 338.4 624.9 638.4 594.2 696.7 650.3 582.6 447.1 548.9 2

 3 Household sector 375.6 247.9 329.2 581.1 611.0 520.0 620.4 497.0 492.9 469.5 459.2 3

 4 Nonfinancial corporate business 35.3 11.1 -12.8 -1.7 1.0 15.3 15.3 15.3 15.3 15.3 15.3 4

 5 State and local governments 1.8 3.1 -0.3 0.8 0.1 2.8 3.0 4.7 0.2 3.4 8.6 5

 6 U.S.-chartered depository institutions 14.8 -5.8 -0.8 -1.1 1.6 -0.7 8.5 5.1 -12.8 -3.6 -2.5 6

 7 Credit unions -0.7 0.2 0.3 0.4 -0.1 -0.1 0.1 -0.2 -0.3 0.1 -0.4 7

 8 Property-casualty insurance companies 0.5 -0.1 -0.7 1.8 1.0 1.4 1.3 1.3 1.3 1.6 2.4 8

 9 Life insurance companies 0.0 33.9 5.6 0.4 1.1 1.3 1.3 1.3 1.3 1.3 1.3 9

 10 Private pension funds 51.7 35.0 8.3 -26.2 31.9 21.0 28.0 22.9 22.0 10.9 27.6 10

 11 State and local govt. retirement funds -1.3 -13.4 -65.2 -20.4 10.8 -16.1 -12.5 -20.7 -13.7 -17.6 -10.2 11

 12 Rest of the world 19.4 58.2 74.7 89.7 -20.0 49.3 31.2 123.5 76.3 -33.9 47.4 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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F.215 Depository Institution Loans Not Elsewhere Classified (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities -758.5 -92.2 146.6 186.1 186.1 308.0 316.2 321.6 195.3 399.0 419.1 1

 2 Household sector 28.3 50.1 -54.9 110.8 30.0 120.2 152.8 179.2 85.8 63.1 124.1 2

 3 Corporate business -234.0 -87.0 92.1 107.8 49.9 85.9 84.1 109.5 71.7 78.3 108.9 3

 4 Noncorporate business -102.0 -16.8 33.5 58.3 46.2 71.1 18.2 108.6 22.7 134.9 119.1 4

 5 Domestic financial sectors -435.9 -62.5 32.6 -121.2 20.9 2.2 6.1 -132.1 45.8 89.0 26.6 5

 6 Finance companies -30.4 -64.9 15.9 16.4 10.1 10.5 1.9 -30.0 25.2 45.0 21.2 6

 7 REITs -12.7 -1.8 4.6 4.0 -2.9 8.0 12.0 -12.2 13.7 18.7 15.3 7

 8 Brokers and dealers -45.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Holding companies 2.3 26.1 64.0 -120.2 13.8 -16.3 -7.7 -89.9 6.9 25.4 -9.9 9

 10 Funding corporations -349.6 -21.9 -51.9 -21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world -14.8 24.0 43.2 30.4 39.1 28.6 54.9 56.4 -30.6 33.7 40.3 11

 12 Foreign official institutions -0.0 2.1 -1.2 0.8 1.0 1.1 -2.7 4.1 -0.4 3.3 4.0 12

 13 Foreign banks -5.2 15.6 16.8 0.6 20.0 -0.7 6.2 26.6 -37.6 2.0 5.7 13

 14 Other foreign -9.6 6.3 27.6 29.1 18.1 28.2 51.5 25.7 7.3 28.3 30.6 14

 15 Net change in assets -758.5 -92.2 146.6 186.1 186.1 308.0 316.2 321.6 195.3 399.0 419.1 15

 16 Monetary authority (2) -347.6 -44.8 -67.6 -29.9 -0.5 -0.1 -0.1 -0.1 -0.1 -0.1 0.0 16

 17 U.S.-chartered depository institutions -285.9 -36.3 163.6 218.6 136.4 241.6 258.6 269.3 165.0 273.6 318.1 17

 18 Foreign banking offices in U.S. -126.0 -11.3 42.9 -3.7 43.8 63.6 57.1 54.9 22.1 120.4 100.2 18

 19 Banks in U.S.-affiliated areas -0.3 -3.3 1.1 1.0 1.3 -2.3 -0.6 -4.4 -2.8 -1.3 -5.7 19

 20 Credit unions 1.3 3.5 6.6 0.1 5.1 5.1 1.2 1.8 11.1 6.3 6.6 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table F.109.
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F.216 Other Loans and Advances

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total other loans and advances -446.9 -226.8 4.9 -13.6 142.1 151.7 164.3 97.1 163.6 181.9 -37.6 1

 2 U.S. government loans 66.2 3.7 4.8 2.5 7.2 2.5 7.1 3.7 -0.4 -0.6 -0.5 2

 3 Liab.: Household sector -0.2 -1.0 -0.5 -0.1 1.1 1.2 -0.9 5.1 -1.4 2.0 0.9 3

 4 Nonfinancial corporate business 59.6 -4.3 -0.5 5.2 0.8 -1.5 5.3 -9.5 -0.6 -1.1 -1.4 4

 5 Nonfinancial noncorporate business 3.6 0.6 2.9 0.6 2.0 -1.2 -2.1 2.4 -0.2 -4.9 -0.7 5

 6 State and local governments 0.8 0.9 0.9 0.4 0.5 0.4 0.2 0.5 0.3 0.4 0.4 6

 7 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 2.0 7.2 0.7 -6.8 -0.7 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Rest of the world 2.1 2.7 3.9 5.6 5.7 5.9 4.6 11.9 3.4 3.7 0.0 10

 11 Foreign loans to U.S. corporate business -44.0 -20.2 33.9 -52.2 -3.5 29.9 64.2 -4.7 14.1 46.1 10.5 11

 12 Liab.: Nonfinancial corporate business -44.0 -20.2 33.9 -52.2 -3.5 29.9 64.2 -4.7 14.1 46.1 10.5 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans -3.2 4.3 4.0 16.7 -2.8 -10.9 -10.7 -35.6 -1.1 3.9 -9.9 17

 18 Liab.: Nonfinancial corporate business -3.2 4.3 4.0 14.3 -0.7 -10.1 -6.6 -35.3 0.4 1.1 -9.1 18

 19 Rest of the world 0.0 0.0 0.0 2.4 -2.0 -0.8 -4.0 -0.4 -1.6 2.8 -0.8 19

 20 Policy loans (Household liability) 0.7 3.4 2.4 1.4 0.9 1.7 -0.2 1.2 3.1 2.5 1.0 20

 21 Asset: Federal government -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 -0.0 21

 22 Life insurance companies 0.7 3.4 2.5 1.4 1.0 1.7 -0.2 1.3 3.1 2.6 1.0 22

 23 Govt.-sponsored enterprises loans (1) -284.8 -144.7 -64.2 18.6 81.9 84.3 11.6 157.7 92.1 75.7 -68.1 23

 24 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) -0.4 1.6 -0.9 0.7 0.1 1.6 3.9 0.7 0.2 1.3 -0.5 25

 26 Nonfinancial noncorporate business (FCS) 0.2 5.7 -2.6 7.6 2.8 9.6 -8.3 12.8 12.7 21.3 -23.3 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) -263.9 -148.3 -60.5 4.6 69.2 52.3 6.7 126.0 52.7 23.8 -56.8 27

 28 Credit unions (FHLB) -14.1 -0.4 -2.0 0.9 1.9 8.4 1.7 10.2 12.7 9.0 -2.0 28

 29 Life insurance companies (FHLB) -6.6 -3.2 1.8 4.8 7.8 12.4 7.7 8.0 13.7 20.3 14.4 29

 30 Securitized loans held by ABS issuers -23.7 -4.9 -3.9 1.7 0.2 -1.9 -0.4 -2.6 -4.7 0.0 0.0 30

 31 Liab.: Nonfinancial corporate business -23.7 -4.9 -3.9 1.7 0.2 -1.9 -0.4 -2.6 -4.7 0.0 0.0 31

 32 Finance company loans to business -91.0 -15.2 3.0 11.2 14.4 11.5 2.6 24.8 6.3 12.3 26.2 32

 33 Liab.: Nonfinancial corporate business -81.9 -13.7 2.7 10.1 12.9 10.3 2.3 22.3 5.7 11.1 23.6 33

 34 Nonfinancial noncorporate business -9.1 -1.5 0.3 1.1 1.4 1.1 0.3 2.5 0.6 1.2 2.6 34

 35 Loans to nonfinancial corporate business (2) -67.1 -53.3 24.9 -13.5 43.9 34.7 90.1 -47.5 54.3 42.0 3.2 35

 36 Asset: Household sector -5.3 -0.6 -2.8 -2.5 5.0 -1.6 3.0 -17.7 3.2 5.0 0.5 36

 37 Life insurance companies -13.3 -3.7 5.4 0.4 2.6 6.3 8.2 4.2 7.3 5.3 -4.4 37

 38 Mutual funds 1.3 -0.8 18.9 12.2 39.4 9.4 60.3 -14.6 9.8 -17.6 3.4 38

 39 ABS issuers -27.4 -34.0 -1.5 -2.3 -11.7 11.0 18.4 -13.9 24.7 14.9 5.8 39

 40 Brokers and dealers -12.7 -12.7 6.9 -14.8 10.9 8.2 -2.7 -0.3 8.4 27.3 2.2 40

 41 Funding corporations -9.8 -1.5 -2.0 -6.5 -2.3 1.5 3.0 -5.1 1.0 7.1 -4.3 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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F.217 Total Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in mortgages -51.5 -316.1 -158.2 -68.5 103.8 214.1 31.0 179.4 271.6 374.6 148.3 1

 2 Home 23.9 -161.7 -91.8 -77.6 0.9 49.3 -45.9 44.8 92.0 106.2 -20.8 2

 3 Multifamily residential 7.0 -4.3 4.0 32.9 37.1 68.0 40.8 51.2 73.2 107.0 86.7 3

 4 Commercial -93.7 -158.1 -83.5 -29.7 60.7 92.2 31.6 78.8 101.7 156.8 78.6 4

 5 Farm 11.3 8.1 13.1 5.8 5.1 4.6 4.5 4.6 4.6 4.6 3.6 5

 6 Net borrowing -51.5 -316.1 -158.2 -68.5 103.8 214.1 31.0 179.4 271.6 374.6 148.3 6

 7 Household sector 70.0 -179.0 -79.4 -67.5 8.2 49.6 -46.1 43.1 89.2 112.3 -20.4 7

 8 Nonfinancial business -133.3 -137.9 -92.3 -5.9 87.9 150.7 64.5 129.8 176.9 231.8 151.5 8

 9 Corporate -143.5 -130.5 -61.3 -64.3 21.2 11.7 -0.9 16.4 32.8 -1.6 -2.9 9

 10 Noncorporate 10.2 -7.3 -30.9 58.4 66.7 139.0 65.3 113.4 144.1 233.3 154.4 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 11.8 0.8 13.5 4.8 7.8 13.8 12.6 6.5 5.5 30.4 17.2 12

 13 Net change in assets -51.5 -316.1 -158.2 -68.5 103.8 214.1 31.0 179.4 271.6 374.6 148.3 13

 14 Household sector -0.9 -10.9 0.9 -13.8 -10.9 -7.4 -6.9 -8.2 -8.0 -6.6 -8.6 14

 15 Nonfinancial corporate business -4.1 -1.6 -0.6 -1.9 1.8 1.8 1.8 1.8 1.8 1.8 1.8 15

 16 Nonfinancial noncorporate business -1.2 4.2 -5.8 -2.4 1.0 1.8 0.7 1.9 1.4 3.1 2.4 16

 17 Federal government 12.6 -5.4 3.3 1.6 4.0 1.7 1.9 2.3 2.9 -0.3 3.5 17

 18 State and local governments 8.9 14.3 -0.2 5.7 1.6 13.5 14.4 21.8 1.7 16.0 40.2 18

 19 U.S.-chartered depository institutions -178.1 -149.2 -105.3 13.7 -26.6 117.9 176.8 184.6 30.2 79.9 291.9 19

 20 Foreign banking offices in U.S. -6.4 -2.5 -2.6 -1.9 -0.6 7.3 7.8 7.8 5.1 8.3 -0.6 20

 21 Banks in U.S.-affiliated areas -0.3 -6.5 -2.4 1.5 -2.5 -2.1 -1.8 -0.8 -3.3 -2.3 -10.4 21

 22 Credit unions 5.4 0.9 4.5 8.3 18.6 26.9 22.4 25.7 34.8 24.4 18.4 22

 23 Property-casualty insurance companies -0.5 -0.3 0.8 0.7 2.3 2.0 1.3 2.1 2.3 2.4 1.9 23

 24 Life insurance companies -16.3 -8.6 15.0 11.9 18.8 21.6 14.2 17.1 17.0 38.0 25.3 24

 25 Private pension funds -2.4 2.8 -4.6 1.2 -3.4 -0.2 -2.9 3.5 4.0 -5.3 -3.1 25

 26 State and local govt. retirement funds -2.7 -0.4 -0.5 -1.1 -0.7 0.5 1.4 0.9 0.3 -0.7 -1.4 26

 27 Government-sponsored enterprises (1) 2.4 -71.0 -60.5 -71.4 72.5 4.3 -180.6 -19.6 114.2 103.0 -105.1 27

 28 Agency- and GSE-backed mortgage pools 458.3 186.9 165.3 132.2 132.4 75.3 77.4 27.8 83.4 112.6 -0.9 28

 29 ABS issuers -248.1 -213.3 -146.2 -136.0 -217.6 -74.5 -177.9 -65.5 -22.8 -31.7 -73.5 29

 30 Finance companies -47.8 -54.2 -30.9 -25.7 -21.9 -8.7 -13.0 -18.0 -10.0 6.0 -11.6 30

 31 REITs -30.2 -1.3 11.7 8.6 135.0 32.7 94.0 -6.1 16.6 26.1 -21.9 31
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F.218 Home Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing 23.9 -161.7 -91.8 -77.6 0.9 49.3 -45.9 44.8 92.0 106.2 -20.8 1

 2 Household sector 66.3 -182.1 -73.1 -65.2 3.4 41.8 -48.5 35.5 81.4 98.9 -28.3 2

 3 Nonfinancial corporate business -12.4 -6.8 -3.4 -0.5 0.3 1.5 1.7 2.0 1.5 0.8 2.0 3

 4 Nonfinancial noncorporate business -30.0 27.1 -15.4 -11.9 -2.7 6.0 1.0 7.3 9.1 6.5 5.6 4

 5 Net change in assets 23.9 -161.7 -91.8 -77.6 0.9 49.3 -45.9 44.8 92.0 106.2 -20.8 5

 6 Household sector -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 -8.0 6

 7 Nonfinancial corporate business -2.5 -0.9 -0.3 -2.0 3.2 3.2 3.2 3.2 3.2 3.2 3.2 7

 8 Nonfinancial noncorporate business -0.4 1.5 -2.1 -0.9 0.4 0.7 0.2 0.7 0.5 1.1 0.9 8

 9 Federal government 5.7 -1.8 0.2 1.1 0.4 1.2 1.0 -0.9 1.0 3.6 3.5 9

 10 State and local governments 6.3 8.8 1.1 3.9 1.4 7.3 7.7 11.6 1.2 8.5 21.3 10

 11 U.S.-chartered depository institutions -125.9 -48.9 -37.6 5.5 -96.2 18.2 99.4 80.6 -52.7 -54.3 183.8 11

 12 Foreign banking offices in U.S. -6.0 0.1 0.3 0.5 -0.4 1.5 1.0 1.2 2.1 1.6 -0.5 12

 13 Banks in U.S.-affiliated areas -0.3 -2.5 -2.4 2.3 -1.1 -1.5 -2.2 -0.3 -2.7 -1.0 -3.6 13

 14 Credit unions 5.4 0.9 4.5 8.3 18.6 26.9 22.4 25.7 34.8 24.4 18.4 14

 15 Life insurance companies 0.2 0.3 -0.1 0.5 0.8 3.5 2.9 2.9 3.6 4.7 -1.3 15

 16 Private pension funds 0.7 -0.1 -0.3 -0.1 -0.2 0.0 -0.1 0.2 0.3 -0.4 -0.2 16

 17 State and local govt. retirement funds -1.0 -0.1 -0.2 -0.4 -0.2 0.2 0.5 0.3 0.1 -0.3 -0.5 17

 18 Government-sponsored enterprises -23.2 -76.4 -66.5 -82.5 87.1 4.5 -164.7 -3.6 103.3 83.1 -133.7 18

 19 Agency- and GSE-backed mortgage pools 445.6 175.8 148.0 105.0 98.8 51.1 57.9 5.6 61.1 80.0 -15.1 19

 20 ABS issuers -202.1 -160.8 -120.9 -106.7 -83.0 -63.4 -62.1 -71.3 -70.6 -49.5 -73.0 20

 21 Finance companies -45.2 -49.8 -18.4 -11.1 -17.3 -9.8 -14.2 -10.0 -13.7 -1.4 -13.1 21

 22 REITs -25.2 0.2 11.0 6.9 -3.3 13.9 9.1 6.8 28.7 10.8 -2.8 22

 Memo:

 23 Charge-offs (2) 239.2 186.2 154.1 142.2 92.3 52.3 14.7 13.5 12.0 12.1 17.6 23

 24 Home equity loans included above (3) -46.2 -52.8 -53.9 -62.7 -56.4 -24.8 -42.4 -20.9 -14.7 -21.2 -45.3 24

 25 U.S.-chartered depository institutions -21.9 -31.8 -41.1 -51.7 -46.9 -22.9 -36.0 -18.4 -17.5 -19.6 -38.7 25

 26 Foreign banking offices in U.S. -0.6 0.0 -0.0 -0.0 0.1 0.1 0.0 0.0 -0.1 0.3 -0.0 26

 27 Credit unions -4.1 -6.4 -6.0 -6.5 -3.7 1.7 -2.2 1.2 6.3 1.3 -2.1 27

 28 ABS issuers -10.1 -5.4 -2.7 -2.0 -2.3 -1.6 -1.6 -1.7 -1.6 -1.4 -1.7 28

 29 Finance companies -9.6 -9.3 -4.0 -2.4 -3.6 -2.0 -2.6 -2.0 -1.9 -1.6 -2.8 29

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Charge-offs are excluded from the flow (line 1) and are accounted for as other changes in volume. Quarterly figures are shown at an unadjusted quarterly rate. Data begin 2007:Q1.

(3) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals. Home equity loans

 held by U.S.-chartered depository institutions exclude charge-offs.

F.219 Multifamily Residential Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 7.0 -4.3 4.0 32.9 37.1 68.0 40.8 51.2 73.2 107.0 86.7 1

 2 Nonfinancial corporate business 0.2 -0.2 0.2 1.7 1.7 3.4 2.1 2.5 3.7 5.1 4.2 2

 3 Nonfinancial noncorporate business 4.5 -4.5 3.7 32.4 32.1 63.7 40.4 46.7 70.2 97.4 79.4 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 2.3 0.4 0.1 -1.1 3.3 1.0 -1.8 2.1 -0.6 4.4 3.2 5

 6 Net change in assets 7.0 -4.3 4.0 32.9 37.1 68.0 40.8 51.2 73.2 107.0 86.7 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business -0.1 -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 -0.4 1.5 -2.0 -0.8 0.3 0.6 0.2 0.7 0.5 1.1 0.8 9

 10 Federal government 0.1 -0.3 -0.3 -0.3 0.0 -0.6 -0.2 -0.4 -1.0 -0.8 -0.3 10

 11 State and local governments 2.2 4.5 -1.0 1.5 0.2 5.1 5.5 8.5 0.4 6.1 15.6 11

 12 U.S.-chartered depository institutions -9.0 -12.2 -6.6 10.2 29.4 38.0 37.7 41.8 34.4 38.1 35.9 12

 13 Foreign banking offices in U.S. -0.4 -0.5 -0.6 -1.5 -0.4 0.2 -0.5 0.0 0.2 1.0 0.6 13

 14 Life insurance companies -3.2 -1.3 2.1 1.7 2.5 2.8 0.7 2.4 2.9 5.1 2.9 14

 15 Private pension funds 0.3 0.4 -0.3 -0.3 -0.3 -0.0 -0.4 0.4 0.4 -0.6 -0.3 15

 16 State and local govt. retirement funds -0.8 -0.1 -0.2 -0.3 -0.2 0.1 0.4 0.3 0.1 -0.2 -0.4 16

 17 Government-sponsored enterprises 14.2 2.0 2.8 6.2 -21.9 -2.7 -18.5 -18.4 8.6 17.3 25.4 17

 18 Agency- and GSE-backed mortgage pools 13.0 11.3 19.4 27.0 33.7 24.3 19.7 22.3 22.5 32.8 14.4 18

 19 ABS issuers -6.1 -8.6 -7.7 -9.6 -5.9 -1.6 -3.1 -6.6 0.2 3.0 -8.4 19

 20 Finance companies -0.7 -0.7 -1.5 -0.8 -0.8 0.1 0.1 0.2 -0.3 0.3 0.0 20

 21 REITs -2.0 -0.3 -0.2 0.1 0.5 1.8 -0.8 0.2 4.3 3.6 0.5 21
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F.220 Commercial Mortgages

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net borrowing -93.7 -158.1 -83.5 -29.7 60.7 92.2 31.6 78.8 101.7 156.8 78.6 1

 2 Household sector 3.8 3.0 -6.3 -2.3 4.8 7.8 2.5 7.6 7.7 13.5 7.9 2

 3 Nonfinancial corporate business -135.4 -126.6 -62.7 -67.8 17.4 4.6 -6.7 9.6 25.4 -9.9 -11.3 3

 4 Nonfinancial noncorporate business 28.5 -35.0 -27.9 34.4 34.0 67.0 21.4 57.1 62.4 127.2 68.1 4

 5 REITs 9.5 0.4 13.3 6.0 4.5 12.7 14.4 4.4 6.1 26.1 14.0 5

 6 Net change in assets -93.7 -158.1 -83.5 -29.7 60.7 92.2 31.6 78.8 101.7 156.8 78.6 6

 7 Household sector -0.7 -1.1 -0.6 -0.3 0.4 1.4 1.2 1.2 1.5 1.7 1.9 7

 8 Nonfinancial corporate business -1.6 -0.6 -0.2 0.1 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3 -1.3 8

 9 Nonfinancial noncorporate business -0.3 1.1 -1.6 -0.7 0.3 0.5 0.2 0.5 0.4 0.9 0.7 9

 10 Federal government 6.4 -3.7 3.2 0.8 3.9 0.2 0.8 2.7 0.9 -3.6 -0.4 10

 11 State and local governments 0.4 0.9 -0.2 0.3 0.0 1.0 1.1 1.7 0.1 1.2 3.1 11

 12 U.S.-chartered depository institutions -36.8 -95.1 -62.9 -8.1 38.8 60.1 38.2 60.7 46.9 94.5 70.4 12

 13 Foreign banking offices in U.S. 0.1 -2.1 -2.3 -0.9 0.2 5.5 7.2 5.9 2.9 5.7 -0.8 13

 14 Banks in U.S.-affiliated areas -0.0 -4.0 -0.1 -0.8 -1.4 -0.5 0.4 -0.5 -0.6 -1.3 -6.7 14

 15 Property-casualty insurance companies -0.5 -0.3 0.8 0.7 2.3 2.0 1.3 2.1 2.3 2.4 1.9 15

 16 Life insurance companies -11.5 -6.8 12.3 9.8 15.4 14.9 10.2 11.5 10.2 27.8 23.4 16

 17 Private pension funds -3.5 2.5 -4.0 1.6 -2.8 -0.2 -2.4 2.9 3.3 -4.4 -2.6 17

 18 State and local govt. retirement funds -0.9 -0.1 -0.2 -0.4 -0.2 0.2 0.5 0.3 0.1 -0.3 -0.5 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers -39.9 -43.9 -17.6 -19.7 -128.7 -9.5 -112.7 12.4 47.6 14.8 7.8 20

 21 Finance companies -1.9 -3.7 -11.0 -13.8 -3.8 1.0 1.2 -8.2 4.0 7.1 1.4 21

 22 REITs -2.9 -1.2 0.9 1.5 137.7 17.0 85.8 -13.1 -16.5 11.6 -19.6 22

F.221 Farm Mortgages (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net borrowing 11.3 8.1 13.1 5.8 5.1 4.6 4.5 4.6 4.6 4.6 3.6 1

 2 Nonfinancial corporate business 4.0 3.1 4.5 2.3 1.8 2.2 2.0 2.2 2.2 2.3 2.3 2

 3 Nonfinancial noncorporate business 7.3 5.0 8.6 3.5 3.3 2.4 2.5 2.4 2.4 2.3 1.4 3

 4 Net change in assets 11.3 8.1 13.1 5.8 5.1 4.6 4.5 4.6 4.6 4.6 3.6 4

 5 Household sector 7.8 -1.7 9.5 -5.5 -3.3 -0.8 -0.1 -1.4 -1.5 -0.3 -2.5 5

 6 Nonfinancial noncorporate business -0.0 0.1 -0.1 -0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 6

 7 Federal government 0.4 0.4 0.3 0.1 -0.3 0.9 0.3 1.0 2.1 0.5 0.7 7

 8 State and local governments 0.0 0.1 -0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.1 0.2 8

 9 U.S.-chartered depository institutions -6.4 7.0 1.7 6.1 1.4 1.6 1.5 1.6 1.6 1.6 1.8 9

 10 Foreign banking offices in U.S. -0.0 0.0 -0.0 0.0 -0.0 0.2 0.0 0.7 -0.1 -0.0 0.0 10

 11 Life insurance companies -1.7 -0.9 0.6 0.0 0.1 0.3 0.3 0.3 0.3 0.3 0.4 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 11.4 3.4 3.3 4.9 7.4 2.4 2.5 2.4 2.3 2.6 3.2 13

 14 Agency- and GSE-backed mortgage pools -0.2 -0.2 -2.1 0.3 -0.2 -0.1 -0.1 -0.1 -0.1 -0.2 -0.2 14

(1) Excludes mortgages on farm houses.
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F.222 Consumer Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities (Households) -103.6 -25.3 108.6 169.4 175.9 218.4 194.0 257.8 222.8 199.0 186.8 1

 2 Net change in assets -103.6 -25.3 108.6 169.4 175.9 218.4 194.0 257.8 222.8 199.0 186.8 2

 3 Households (nonprofit organizations) (1) -5.8 -10.4 -3.9 -8.8 -6.3 -5.7 -4.9 -4.4 -7.3 -6.4 -6.7 3

 4 Nonfinancial corporate business -2.0 -11.4 2.0 1.5 -4.2 -1.3 14.2 8.2 -9.6 -18.0 13.6 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 87.9 133.1 128.5 132.1 113.1 111.1 121.2 104.7 112.7 105.8 117.3 6

 7 U.S.-chartered depository institutions -64.5 -70.3 7.1 28.1 52.9 71.5 40.8 95.2 81.2 68.9 21.8 7

 8 Credit unions 0.9 -10.7 -3.4 20.6 21.9 37.2 32.4 47.1 29.5 39.8 39.6 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers -37.8 -42.3 -4.1 3.8 -0.8 0.6 -2.6 -3.6 7.8 0.9 -2.7 10

 11 Finance companies -82.4 -13.4 -17.4 -7.8 -0.6 5.0 -7.1 10.7 8.4 8.0 3.9 11

 Memo:

 12 Credit card loans (3) -87.9 -69.9 1.8 4.7 12.3 31.8 11.0 59.4 30.6 26.2 3.6 12

 13 Auto loans -58.2 -40.6 17.1 60.0 69.6 79.0 72.5 84.4 77.5 81.5 74.7 13

 14 Student loans (4) 101.0 80.8 99.9 119.0 91.7 102.3 89.7 105.1 111.1 103.1 75.6 14

 15 Other consumer credit (5) -58.4 4.3 -10.2 -14.3 2.3 5.4 20.8 8.9 3.6 -11.8 32.9 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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F.223 Trade Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in trade payables 7.8 154.9 128.6 139.0 185.8 161.3 61.8 254.4 154.7 174.3 164.8 1

 2 Household sector 41.4 -29.4 1.2 4.0 1.0 3.1 4.0 3.6 1.9 3.0 1.4 2

 3 Nonfinancial corporate business -82.6 156.3 25.2 66.2 105.4 84.2 48.9 130.7 70.2 86.9 62.2 3

 4 Nonfinancial noncorporate business 16.9 30.3 54.8 16.0 16.4 25.3 10.6 29.2 17.9 43.4 56.8 4

 5 Federal government -56.2 5.2 8.8 13.4 19.6 17.5 4.5 33.0 23.2 9.2 -4.7 5

 6 State and local governments 38.9 38.5 38.4 38.8 39.6 40.7 40.0 40.7 41.1 41.1 40.1 6

 7 Brokers and dealers 48.9 -52.0 -3.8 -0.0 0.3 3.4 1.0 11.9 8.4 -7.8 5.1 7

 8 Rest of the world 0.5 6.0 4.0 0.7 3.4 -12.8 -47.1 5.3 -8.0 -1.5 3.9 8

 9 Net change in trade receivables -114.9 165.1 171.4 74.8 316.0 153.8 122.9 231.5 103.9 156.8 184.5 9

 10 Nonfinancial corporate business -31.2 105.7 83.7 52.0 277.2 108.8 49.2 160.5 106.4 119.2 104.0 10

 11 Nonfinancial noncorporate business -26.3 37.0 61.0 4.6 17.4 31.6 12.0 34.3 24.7 55.2 42.1 11

 12 Federal government -21.1 -0.7 4.8 2.6 3.3 -2.7 8.1 -2.8 -0.7 -15.1 11.2 12

 13 State and local governments -4.6 13.1 5.6 5.6 8.5 7.7 2.1 13.5 6.1 9.0 6.4 13

 14 Property-casualty insurance companies -3.7 0.8 3.4 4.8 3.3 5.5 19.3 15.2 -2.0 -10.3 21.3 14

 15 ABS issuers -34.3 -9.5 -4.2 -6.4 -5.4 -4.4 -5.7 -1.6 -11.6 1.2 -0.0 15

 16 Rest of the world 6.3 18.6 17.1 11.6 11.9 7.2 37.9 12.5 -18.9 -2.4 -0.4 16

 17 Discrepancy 122.7 -10.2 -42.8 64.2 -130.3 7.5 -61.0 22.9 50.7 17.5 -19.8 17

F.224 Security Credit

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in liabilities -5.4 105.0 -7.4 97.7 104.3 95.8 147.5 225.5 172.7 -162.6 -53.2 1

 2 Household sector 38.1 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 2

 3 Brokers and dealers -43.5 29.8 31.9 32.8 68.9 65.4 221.8 6.3 113.4 -79.7 7.7 3

 4 Net change in assets -5.4 105.0 -7.4 97.7 104.3 95.8 147.5 225.5 172.7 -162.6 -53.2 4

 5 Household sector -35.7 23.5 0.9 42.0 58.5 53.5 202.8 1.6 103.6 -94.0 6.3 5

 6 U.S.-chartered depository institutions -3.4 3.2 12.2 -1.9 7.9 8.2 21.9 10.6 -2.7 2.9 1.6 6

 7 Foreign banking offices in U.S. -4.5 3.1 18.8 -7.3 2.5 3.8 -2.9 -5.9 12.5 11.4 -0.2 7

 8 Brokers and dealers 38.1 75.2 -39.3 64.9 35.4 30.4 -74.3 219.3 59.4 -82.9 -60.8 8

F.225 Life Insurance Reserves

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in liabilities 27.4 14.4 81.1 -11.9 30.0 56.3 41.7 52.6 56.2 74.5 87.1 1

 2 Federal government 1.1 0.9 1.3 0.3 0.2 0.8 -0.1 0.6 1.2 1.4 -2.1 2

 3 Life insurance companies 26.3 13.6 79.9 -12.2 29.8 55.5 41.8 52.1 55.0 73.1 89.1 3

 4 Net change in assets 27.4 14.4 81.1 -11.9 30.0 56.3 41.7 52.6 56.2 74.5 87.1 4

 5 Households 24.6 6.2 73.5 -26.6 19.2 45.3 31.3 41.4 46.4 62.2 77.7 5

 6 U.S.-chartered depository institutions 0.8 4.5 5.2 7.4 5.7 5.9 5.6 6.0 5.0 6.9 5.2 6

 7 Holding companies 2.1 3.8 2.4 7.3 5.1 5.0 4.7 5.3 4.8 5.3 4.2 7
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F.226 Pension Entitlements

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 1

 2 Life insurance companies (1) -80.0 72.1 85.7 80.5 53.8 70.9 52.5 55.2 88.9 87.0 44.9 2

 3 Private pension funds (2) 153.7 177.9 95.6 114.0 127.8 135.1 126.3 161.8 107.2 144.9 147.5 3

 4 Federal government retirement funds (3) 93.7 102.1 113.0 102.0 109.9 115.8 108.0 103.8 121.6 130.0 106.6 4

 5 State and local govt. retirement funds 230.7 244.3 204.0 201.1 207.2 226.7 229.9 232.4 221.1 223.5 219.6 5

 6 Net change in assets (Households) (4) 398.2 596.4 498.3 497.6 498.7 548.5 516.6 553.3 538.8 585.4 518.6 6

 Memo:

 7 Individual Retirement Accounts (IRAs) at: (5) 207.0 213.4 380.0 261.0 229.9 240.5 223.6 345.8 365.8 26.8 ND 7

 8 U.S.-chartered depository institutions 30.7 26.6 20.3 24.4 -0.4 0.1 -27.0 -6.9 15.4 19.0 ND 8

 9 Credit unions 8.7 3.0 1.2 1.4 -0.7 -1.6 -1.2 -1.5 -1.5 -2.1 ND 9

 10 Life insurance companies -4.9 19.5 14.4 22.1 19.2 27.8 14.7 21.6 1.8 73.3 ND 10

 11 Money market mutual funds -42.0 -24.0 9.0 6.0 13.0 -11.0 -16.0 -16.0 8.0 -20.0 ND 11

 12 Mutual funds 176.7 158.1 67.3 126.7 131.5 86.1 153.1 212.2 -16.4 -4.6 ND 12

 13 Other self-directed accounts 37.6 30.2 267.8 80.3 67.2 139.0 100.0 136.4 358.4 -38.8 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.227 Taxes Payable by Businesses

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Net change in taxes payable by all -3.4 19.4 20.1 16.8 12.2 22.7 30.9 42.6 13.3 4.1 105.7 1

 businesses

 2 Nonfinancial corporate business -3.3 7.2 8.8 2.3 -9.1 0.4 -18.3 7.8 18.4 -6.4 51.5 2

 3 Nonfinancial noncorporate business -6.3 -0.7 0.6 7.6 3.6 6.5 2.5 7.0 5.1 11.3 18.6 3

 4 U.S.-chartered depository institutions 7.3 6.6 10.6 7.0 0.1 15.2 31.1 29.0 -11.6 12.3 19.1 4

 5 Property-casualty insurance companies 5.3 5.6 -4.4 3.8 19.1 1.9 7.3 -2.8 3.0 0.4 1.4 5

 6 Life insurance companies -7.0 2.6 5.2 -4.6 -2.3 -1.9 5.0 -1.0 -3.4 -8.3 10.0 6

 7 Finance companies -2.8 0.3 0.5 0.2 0.1 0.3 0.1 0.1 0.8 0.3 1.8 7

 8 Brokers and dealers 3.2 -2.1 -1.1 0.5 0.6 0.3 3.2 2.5 1.1 -5.5 3.3 8

 9 Net change in business taxes receivable 30.1 28.1 28.1 36.5 31.4 59.4 54.0 116.5 28.0 39.3 175.9 9

 10 Federal government 35.9 27.1 25.6 27.9 27.8 53.0 60.1 94.6 30.2 26.9 167.8 10

 11 State and local governments -5.8 1.0 2.5 8.6 3.6 6.5 -6.0 21.9 -2.3 12.3 8.1 11

 12 Discrepancy -33.5 -8.6 -8.1 -19.7 -19.2 -36.7 -23.1 -73.9 -14.6 -35.1 -70.2 12

F.228 Proprietors’ Equity in Noncorporate Business

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 Total household investment -107.6 167.2 161.0 133.5 75.6 50.6 73.9 31.5 63.0 33.9 16.9 1

 2 Nonfinancial noncorporate business -108.2 166.4 163.8 126.8 79.5 48.3 70.9 33.2 56.3 32.8 16.2 2

 3 Brokers and dealers 0.6 0.9 -2.9 6.7 -3.9 2.3 3.0 -1.8 6.7 1.1 0.8 3
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F.229 Direct Investment

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 310.4 301.1 419.1 333.0 349.5 358.0 195.6 338.0 385.5 512.6 385.7 1

 2 Equity 262.1 343.0 401.5 319.0 352.1 361.8 212.5 349.1 404.0 481.6 364.3 2

 3 Equity (other than reinvested earnings) 34.6 40.6 89.1 28.6 14.4 5.5 -110.0 -15.0 35.2 111.8 75.5 3

 4 Reinvested earnings 227.4 302.5 312.4 290.4 337.7 356.3 322.5 364.2 368.8 369.8 288.8 4

 5 Of which: Current-cost adjustment 22.5 23.3 22.5 21.6 21.2 21.0 21.0 21.0 21.0 21.0 21.0 5

 6 Intercompany debt (2) 48.3 -42.0 17.5 14.0 -2.6 -3.9 -16.9 -11.1 -18.5 31.0 21.4 6

 7 U.S. parents’ claims 52.5 1.5 42.2 17.1 23.3 9.6 -0.4 5.1 19.3 14.3 27.6 7

 8 Less: U.S. parents’ liabilities 4.2 43.5 24.7 3.1 25.9 13.5 16.5 16.2 37.8 -16.7 6.2 8

 9 Asset: Nonfinancial corporate business 269.7 303.3 403.9 315.9 317.4 330.3 160.8 324.9 340.0 495.4 388.9 9

 10 Of which: Current-cost adjustment 22.5 23.3 22.5 21.6 21.2 21.0 21.0 21.0 21.0 21.0 21.0 10

 11 U.S.-chartered depository institutions -0.8 2.7 -6.2 -2.6 3.5 5.2 -5.4 0.4 18.6 7.1 -15.6 11

 12 Property-casualty insurance companies 16.3 -22.2 1.1 0.2 14.1 5.2 3.2 4.0 7.5 6.0 9.1 12

 13 Life insurance companies 1.6 1.9 3.3 5.2 1.2 1.6 -0.3 -1.8 4.5 3.9 8.1 13

 14 Finance companies 11.0 6.8 12.0 7.7 4.0 6.3 28.5 9.4 6.4 -18.9 -25.2 14

 15 Brokers and dealers 12.5 8.7 4.9 6.7 9.2 9.4 9.0 1.0 8.6 19.1 20.4 15

 Foreign direct investment in U.S.:

 16 Liab.: Nonfinancial corporate business 104.6 157.0 192.7 170.1 207.1 79.8 -446.4 259.6 328.8 177.1 312.8 16

 17 Of which: Current-cost adjustment 6.8 7.8 6.2 5.6 5.5 5.5 5.5 5.5 5.4 5.4 5.4 17

 18 Nonfinancial noncorporate business 0.1 0.3 0.0 0.6 0.5 0.9 1.0 0.8 0.8 1.0 0.9 18

 19 Foreign banking offices in U.S. 16.6 12.4 26.0 -0.8 4.0 3.1 3.7 2.7 -6.1 12.1 2.8 19

 20 Property-casualty insurance companies 2.4 2.8 -2.2 -5.3 6.8 0.9 -2.1 -3.1 9.3 -0.2 9.9 20

 21 Life insurance companies 11.1 6.3 -5.4 1.4 5.1 8.9 5.8 9.2 15.5 5.2 12.5 21

 22 Finance companies 12.8 13.2 6.1 -0.8 0.5 0.1 1.6 3.2 -6.9 2.5 -5.7 22

 23 Brokers and dealers 2.1 13.2 18.2 9.4 11.6 3.5 8.8 3.0 1.9 0.2 -2.6 23

 24 Funding corporations 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 24

 25 Asset: Rest of the world (1) 150.4 205.9 236.1 175.2 236.3 97.8 -427.0 276.1 343.9 198.4 331.1 25

 26 Equity 148.5 203.1 185.1 191.4 226.8 77.2 -399.1 254.6 249.4 203.7 250.7 26

 27 Equity (other than reinvested earnings) 126.8 140.5 106.5 93.9 126.9 -26.5 -478.0 139.7 154.8 77.5 130.1 27

 28 Reinvested earnings 21.7 62.7 78.6 97.5 99.9 103.6 78.9 114.8 94.6 126.2 120.6 28

 29 Of which: Current-cost adjustment 6.8 7.8 6.2 5.6 5.5 5.5 5.5 5.5 5.4 5.4 5.4 29

 30 Intercompany debt 2.0 2.7 51.0 -16.2 9.4 20.7 -27.9 21.5 94.5 -5.3 40.4 30

 31 U.S. affiliates’ liabilities 1.1 12.7 47.7 23.3 42.3 2.4 -101.7 41.3 58.2 11.9 64.0 31

 32 Less: U.S. affiliates’ claims -0.9 10.0 -3.4 39.5 32.8 -18.3 -73.7 19.7 -36.2 17.2 23.6 32

 Memo:

 Direct investment, asset/liability presentation:

 33 Net U.S. acquisition of direct investment assets 313.7 354.6 440.4 375.5 408.2 353.2 138.4 374.0 387.1 513.1 415.5 33

 34 Equity (line 2) 262.1 343.0 401.5 319.0 352.1 361.8 212.5 349.1 404.0 481.6 364.3 34

 35 Intercompany debt 51.7 11.5 38.9 56.5 56.1 -8.7 -74.1 24.9 -16.9 31.5 51.2 35

 36 U.S. parents’ claims (line 7) 52.5 1.5 42.2 17.1 23.3 9.6 -0.4 5.1 19.3 14.3 27.6 36

 37 U.S. affiliates’ claims (line 32) -0.9 10.0 -3.4 39.5 32.8 -18.3 -73.7 19.7 -36.2 17.2 23.6 37

 38 Net U.S. incurrence of direct investment liabilities 153.8 259.3 257.4 217.8 295.0 93.1 -484.2 312.1 345.4 198.9 320.8 38

 39 Equity (line 26) 148.5 203.1 185.1 191.4 226.8 77.2 -399.1 254.6 249.4 203.7 250.7 39

 40 Intercompany debt 5.3 56.2 72.4 26.4 68.1 15.9 -85.2 57.5 96.0 -4.8 70.2 40

 41 U.S. parents’ liabilities (line 8) 4.2 43.5 24.7 3.1 25.9 13.5 16.5 16.2 37.8 -16.7 6.2 41

 42 U.S. affiliates’ liabilities (line 31) 1.1 12.7 47.7 23.3 42.3 2.4 -101.7 41.3 58.2 11.9 64.0 42

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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F.230 Total Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 245.3 593.8 1158.3 1008.3 1134.9 1442.4 2230.7 1523.5 1026.4 989.1 1706.0 1

 2 Household sector -4.9 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 2

 3 Nonfinancial corporate business 142.4 488.7 827.3 728.9 622.5 672.8 915.6 693.0 634.5 448.2 681.6 3

 4 Nonfinancial noncorporate business 32.6 -54.3 -21.0 51.8 -85.4 6.5 -9.9 8.9 0.8 26.4 59.3 4

 5 Federal government 97.0 110.7 123.7 95.7 104.8 108.1 79.2 121.7 81.6 149.9 304.0 5

 6 State and local governments 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 6

 7 Monetary authority 4.9 28.7 -27.2 4.0 9.8 3.5 61.2 -25.1 -58.0 35.7 58.5 7

 8 U.S.-chartered depository institutions 358.2 -8.9 -94.9 147.1 120.1 313.6 331.5 194.0 447.2 281.5 114.0 8

 9 Foreign banking offices in U.S. -158.9 -30.5 10.1 -35.7 -33.2 -11.7 5.7 -13.6 63.2 -102.2 11.4 9

 10 Banks in U.S.-affiliated areas 4.3 -5.9 -3.9 -2.0 -3.0 -1.6 2.1 1.7 -10.5 0.2 -3.4 10

 11 Credit unions 14.7 -8.3 1.3 0.3 1.5 1.2 -5.8 13.8 0.4 -3.6 3.5 11

 12 Property-casualty insurance companies -5.0 6.3 35.2 -1.0 -0.3 14.8 3.8 34.3 26.8 -5.8 -11.2 12

 13 Life insurance companies 89.9 60.7 48.0 27.4 3.0 42.4 83.7 103.4 -35.0 17.6 81.1 13

 14 Government-sponsored enterprises 62.3 -42.2 -49.2 -6.1 -9.4 -3.6 -13.8 -0.7 6.8 -6.9 -4.2 14

 15 Finance companies -104.1 -71.7 -19.1 -24.7 -26.4 -15.2 -10.1 7.4 -93.0 34.9 7.5 15

 16 REITs -5.3 4.1 7.1 25.4 -21.7 11.8 26.1 17.7 1.9 1.5 -4.7 16

 17 Brokers and dealers 61.7 9.0 -19.4 -7.7 41.3 -19.9 174.1 45.7 -75.5 -223.9 176.0 17

 18 Holding companies -26.9 -68.5 -36.2 -98.6 222.0 -31.1 57.7 97.0 -197.9 -81.2 -256.0 18

 19 Funding corporations -103.2 -105.1 -85.1 -68.6 -64.3 -12.4 129.1 -173.3 -59.7 54.5 40.5 19

 20 Rest of the world -518.3 2.7 132.9 -140.0 -23.3 -2.0 -7.6 25.1 -25.2 -0.5 37.4 20

 21 Net change in assets -1.0 335.6 742.9 682.2 1311.5 1143.9 2177.4 1335.2 395.6 667.4 1567.8 21

 22 Household sector 34.9 8.3 70.7 -6.1 52.2 15.2 8.8 30.5 5.7 15.7 3.1 22

 23 Nonfinancial corporate business -167.9 214.8 23.6 110.4 291.6 158.4 385.3 303.4 90.4 -145.7 169.8 23

 24 Nonfinancial noncorporate business -92.5 105.0 102.1 222.9 41.7 132.8 54.6 143.9 105.4 227.4 162.5 24

 25 State and local governments 25.5 -21.9 -1.2 6.3 4.8 11.4 11.6 15.7 5.3 13.0 25.9 25

 26 Federal government 35.2 -3.6 2.0 -1.0 5.9 12.5 11.0 19.9 11.0 8.2 10.7 26

 27 Monetary authority -494.9 7.3 142.4 -25.6 32.3 -0.5 8.2 3.3 -8.8 -4.8 -32.5 27

 28 U.S.-chartered depository institutions 27.5 -99.7 -68.5 -9.7 -7.8 -8.5 145.0 131.3 -111.2 -199.3 204.0 28

 29 Foreign banking offices in U.S. -4.4 -15.3 15.0 -0.3 13.1 14.4 56.3 3.7 8.8 -11.3 17.8 29

 30 Banks in U.S.-affiliated areas -4.5 4.5 0.8 0.2 8.6 12.8 -12.5 20.3 -4.8 48.4 -8.2 30

 31 Credit unions 0.2 41.1 -12.1 0.8 -1.6 5.3 -6.8 20.5 -5.5 13.0 -14.9 31

 32 Life insurance companies -23.1 -7.6 52.4 31.2 24.4 73.0 67.0 55.1 36.7 133.1 92.8 32

 33 Private pension funds 192.9 8.6 50.2 35.2 39.0 86.2 93.1 39.7 76.5 135.4 91.4 33

 34 Federal government retirement funds 77.5 85.9 91.6 90.7 91.4 94.7 94.7 94.7 94.7 94.7 338.4 34

 35 State and local govt. retirement funds 316.7 305.4 319.7 301.9 278.8 378.2 419.4 394.2 323.9 375.1 405.8 35

 36 Money market mutual funds -8.3 -3.4 -0.8 6.1 2.8 -14.3 -61.8 -71.9 -24.4 101.0 -93.8 36

 37 Mutual funds -5.1 -12.0 2.9 -33.1 19.1 -4.3 130.7 -86.9 82.2 -143.0 0.0 37

 38 Government-sponsored enterprises 1.2 29.3 -0.1 4.1 13.1 -11.0 -54.1 -2.7 -8.6 21.5 40.2 38

 39 Finance companies 17.4 -110.1 -5.9 -33.4 -22.3 9.4 -44.8 8.8 -17.0 90.5 14.8 39

 40 REITs 10.2 1.3 8.5 25.8 12.2 16.9 39.3 44.8 14.9 -31.6 24.3 40

 41 Brokers and dealers 42.4 -112.9 -106.6 -68.1 147.7 47.1 633.0 -183.2 -131.9 -129.5 200.4 41

 42 Holding companies 85.4 -31.2 36.5 16.9 251.8 111.2 188.2 296.8 -185.0 145.0 -160.2 42

 43 Funding corporations -67.2 -58.4 19.6 7.2 13.0 3.0 11.0 53.1 37.2 -89.3 75.5 43

 44 Discrepancy 246.3 258.2 415.4 326.1 -176.7 298.5 53.3 188.3 630.8 321.7 138.2 44
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F.231 Identified Miscellaneous Financial Claims - Part I

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 1.7 2.3 2.6 2.4 2.2 2.3 0.0 6.8 1.9 0.7 -0.2 1

 2 Asset: Federal government 1.7 2.3 2.6 2.4 2.2 2.3 0.0 6.8 1.9 0.7 -0.2 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 4.6 0.9 0.4 0.5 0.1 1.1 2.2 0.4 0.1 1.5 1.0 3

 4 Asset: U.S.-chartered depository institutions 4.6 0.9 0.4 0.5 0.1 1.1 2.2 0.4 0.1 1.5 1.0 4

 Equity in govt.-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 0.0 -2.7 -5.9 -1.8 0.5 1.2 -4.7 6.1 1.4 2.0 -4.3 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.0 0.1 -0.0 0.0 0.0 0.1 0.6 -0.2 -0.0 0.1 0.3 6

 7 Nonfinancial noncorporate (FCS) -0.0 0.4 0.3 0.2 0.6 0.8 1.1 0.3 0.7 0.8 0.4 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 0.7 -3.0 -6.1 -2.2 -0.6 -0.6 -6.7 4.5 -0.4 0.2 -6.1 9

 10 Credit unions (FHLB) -0.4 -0.2 0.7 0.1 -0.6 0.6 0.1 0.9 0.7 0.7 0.3 10

 11 Life insurance companies (FHLB) -0.3 -0.0 -0.8 0.1 1.0 0.4 0.2 0.6 0.4 0.2 0.8 11

 Holding company net transactions with subsidiaries:

 12 Liab.: U.S.-chartered depository institutions 166.8 33.4 76.1 101.2 59.2 191.0 165.8 206.4 114.4 277.5 -86.0 12

 13 Property-casualty insurance companies 0.0 0.0 0.0 -6.8 -6.0 0.1 -2.2 1.9 -0.2 0.9 -5.5 13

 14 Life insurance companies 9.3 22.2 9.3 10.3 3.4 0.8 0.9 2.3 -0.3 0.2 1.1 14

 15 Finance companies -23.3 -39.5 -20.3 -3.5 -15.8 -13.1 -45.9 -3.0 -4.0 0.5 -4.5 15

 16 Brokers and dealers -173.1 -24.3 -13.0 52.3 57.1 0.8 88.9 61.0 -158.6 11.9 -69.6 16

 17 Rest of the world 23.5 10.6 30.6 -51.5 -16.9 -5.6 -8.1 19.5 -27.6 -6.4 40.5 17

 18 Asset: Holding companies 3.1 2.4 82.7 101.9 81.0 173.9 199.3 288.2 -76.4 284.5 -124.2 18

 NFC investment in finance company subsidiaries:

 19 Liab.: Finance companies -9.3 26.7 8.4 2.6 14.7 14.1 66.9 -4.8 -6.5 0.7 -7.3 19

 20 Asset: Nonfinancial corporate business -9.3 26.7 8.4 2.6 14.7 14.1 66.9 -4.8 -6.5 0.7 -7.3 20

 Funding corporations’ investment in subsidiaries:

 21 Liab.: Foreign banking offices in U.S. -73.5 -31.5 -33.7 -11.8 -2.5 -20.3 1.5 -12.2 28.1 -98.5 -27.9 21

 22 Brokers and dealers 6.3 -26.9 53.4 19.0 15.5 23.3 9.6 65.3 9.1 9.2 103.4 22

 23 Asset: Funding corporations -67.2 -58.4 19.6 7.2 13.0 3.0 11.0 53.1 37.2 -89.3 75.5 23

 Equity investment under Public-Private Inv. Program:

 24 Liab.: Funding corporations 2.4 7.9 1.4 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Asset: Households (2) 1.2 4.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Federal government 1.2 4.0 0.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

(1) Direct investment is valued on a current-cost basis. Excludes capital gains and losses. Components of direct investment--equity, reinvested earnings, intercompany accounts--

 are not available before 1982.

(2) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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F.232 Identified Miscellaneous Financial Claims - Part II

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world -543.5 -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 1

 2 Asset: Federal government 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 2

 3 Monetary authority (1) -543.5 -10.2 99.7 -90.9 -8.6 1.3 0.5 -1.1 0.5 5.2 -2.9 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 0.4 -1.5 -1.8 1.2 -3.2 -1.5 -0.5 -5.6 1.1 -1.0 4.4 6

 7 Asset: U.S.-chartered depository institutions 0.4 -1.5 -1.8 1.2 -3.2 -1.5 -0.5 -5.6 1.1 -1.0 4.4 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector -4.9 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 8

 9 Asset: Life insurance companies -4.9 2.7 -0.4 0.6 3.0 1.2 4.1 5.3 -2.6 -2.0 4.6 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 8.4 17.1 14.8 -1.8 0.4 5.8 15.0 12.7 1.7 -6.2 13.9 10

 11 Accident and health 9.7 17.0 15.6 -2.4 0.2 5.5 14.5 12.3 -3.3 -1.7 7.8 11

 12 Policy dividend accumulation -1.1 0.4 -1.8 0.4 0.2 0.2 -0.6 2.0 0.9 -1.3 -0.8 12

 13 Contract claims -0.1 -0.4 0.9 0.3 -0.0 0.1 1.1 -1.6 4.1 -3.2 6.9 13

 14 Asset: Household sector 8.4 17.1 14.8 -1.8 0.4 5.8 15.0 12.7 1.7 -6.2 13.9 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies -5.0 6.3 35.2 5.8 5.7 14.7 6.0 32.4 27.1 -6.6 -5.6 15

 16 Asset: Household sector 8.7 -35.2 36.7 -17.7 39.7 -1.0 -3.4 6.8 4.6 -11.9 5.5 16

 17 Nonfinancial corporate business -4.0 11.7 10.1 7.6 -6.6 8.2 4.2 15.5 13.3 -0.1 -4.0 17

 18 Nonfinancial noncorporate business -9.8 29.9 -11.6 15.9 -27.4 7.5 5.2 10.1 9.2 5.4 -7.1 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 114.3 13.9 9.9 -1.9 1.3 23.1 27.6 35.0 3.2 26.4 27.0 19

 20 Asset: Private pension funds 90.9 -0.3 20.7 5.0 7.5 17.8 23.1 22.1 6.9 19.0 19.6 20

 21 State and local government retirement funds 23.4 14.2 -10.7 -6.9 -6.2 5.3 4.5 12.9 -3.7 7.4 7.3 21

 Pension fund contributions payable:

 22 Liab.: Nonfinancial corporate business -8.6 15.4 3.0 -12.3 -0.6 0.9 -0.8 1.9 3.6 -1.2 6.6 22

 23 Asset: Private pension funds -8.6 15.4 3.0 -12.3 -0.6 0.9 -0.8 1.9 3.6 -1.2 6.6 23

 Securities borrowed (net):

 24 Liab.: Funding corporations -30.2 -123.5 -74.6 -79.2 94.0 47.1 484.0 -192.0 -44.8 -58.9 139.1 24

 25 Asset: Brokers and dealers -30.2 -123.5 -74.6 -79.2 94.0 47.1 484.0 -192.0 -44.8 -58.9 139.1 25

 Nonmarketable government securities:

 26 Liab.: Federal government 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 26

 27 Asset: Federal government retirement funds 61.9 65.7 70.8 40.4 98.2 68.8 74.9 52.6 79.9 67.8 -71.5 27

 Retiree health care funds (2):

 28 Liab.: Federal government 16.6 22.5 18.5 13.3 12.2 10.4 -2.7 11.0 -0.6 33.9 -16.3 28

 29 Asset: Household sector 16.6 22.5 18.5 13.3 12.2 10.4 -2.7 11.0 -0.6 33.9 -16.3 29

 Claims of pension fund on sponsor (3):

 30 Liab.: Nonfinancial corporate business 82.8 -20.7 -16.8 8.4 12.1 23.1 8.2 -47.1 31.9 99.3 33.1 30

 31 Federal government 15.6 20.2 20.8 50.3 -6.8 25.9 19.8 42.1 14.7 26.8 409.9 31

 32 State and local governments 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 32

 33 Asset: Private pension funds 82.8 -20.7 -16.8 8.4 12.1 23.1 8.2 -47.1 31.9 99.3 33.1 33

 34 Federal government retirement funds 15.6 20.2 20.8 50.3 -6.8 25.9 19.8 42.1 14.7 26.8 409.9 34

 35 State and local govt. retirement funds 304.0 275.5 329.0 311.6 273.8 364.2 403.9 367.2 320.8 364.7 406.0 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.

(3) Assets of the household sector.
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F.233 Unidentified Miscellaneous Financial Claims

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Net change in liabilities 298.4 331.3 541.1 650.0 541.8 662.0 915.9 859.2 632.2 240.8 817.3 1

 2 Nonfinancial corporate business 68.2 493.9 841.1 732.8 611.0 648.9 908.2 738.2 599.0 350.1 641.9 2

 3 Nonfinancial noncorporate business 32.6 -54.3 -21.0 51.8 -85.4 6.5 -9.9 8.9 0.8 26.4 59.3 3

 4 Federal government 2.9 2.4 13.6 -8.3 1.3 3.0 -12.8 16.0 -12.5 21.3 -18.1 4

 5 Monetary authority 0.4 27.8 -27.5 3.5 9.7 2.4 59.0 -25.5 -58.1 34.2 57.5 5

 6 U.S.-chartered depository institutions 191.5 -42.3 -171.0 45.9 60.9 122.5 165.7 -12.5 332.8 4.0 200.1 6

 7 Foreign banking offices in U.S. -85.1 0.9 43.9 -23.9 -30.6 8.5 4.3 -1.4 35.1 -3.8 39.6 7

 8 Banks in U.S.-affiliated areas 4.3 -5.9 -3.9 -2.0 -3.0 -1.6 2.1 1.7 -10.5 0.2 -3.4 8

 9 Credit unions 14.7 -8.3 1.3 0.3 1.5 1.2 -5.8 13.8 0.4 -3.6 3.5 9

 10 Life insurance companies -42.1 7.4 14.0 20.7 -2.1 12.8 40.1 53.3 -39.6 -2.7 39.1 10

 11 Government-sponsored enterprises 61.9 -37.9 -41.4 -5.4 -6.7 -3.4 -8.6 -1.2 4.4 -7.9 -4.3 11

 12 Finance companies -71.5 -58.8 -7.1 -23.8 -25.4 -16.2 -31.1 15.2 -82.5 33.7 19.4 12

 13 REITs -5.3 4.1 7.1 25.4 -21.7 11.8 26.1 17.7 1.9 1.5 -4.7 13

 14 Brokers and dealers 228.6 60.2 -59.8 -79.0 -31.3 -43.9 75.7 -80.5 74.0 -245.0 142.3 14

 15 Holding companies -26.9 -68.5 -36.2 -98.6 222.0 -31.1 57.7 97.0 -197.9 -81.2 -256.0 15

 16 Funding corporations -75.4 10.4 -11.9 10.5 -158.3 -59.4 -354.8 18.6 -14.9 113.4 -98.5 16

 17 Net change in assets 52.1 73.2 125.7 324.0 718.5 363.5 862.6 670.9 1.4 -81.0 679.1 17

 18 Nonfinancial corporate business -154.7 176.3 5.1 100.2 283.5 135.9 313.6 292.9 83.6 -146.4 180.8 18

 19 Nonfinancial noncorporate business -82.7 74.7 113.5 206.9 68.5 124.6 48.3 133.4 95.6 221.1 169.3 19

 20 Federal government 32.3 -9.8 -1.3 -3.5 3.7 10.2 11.0 13.2 9.1 7.5 10.9 20

 21 State and local governments 25.5 -21.9 -1.2 6.3 4.8 11.4 11.6 15.7 5.3 13.0 25.9 21

 22 Monetary authority 48.5 17.5 42.7 65.3 40.9 -1.8 7.7 4.4 -9.3 -9.9 -29.6 22

 23 U.S.-chartered depository institutions 21.8 -96.0 -60.9 -9.2 -4.2 -7.5 150.0 132.0 -112.0 -200.1 204.7 23

 24 Foreign banking offices in U.S. -4.4 -15.3 15.0 -0.3 13.1 14.4 56.3 3.7 8.8 -11.3 17.8 24

 25 Banks in U.S.-affiliated areas -4.5 4.5 0.8 0.2 8.6 12.8 -12.5 20.3 -4.8 48.4 -8.2 25

 26 Credit unions 0.6 41.3 -12.8 0.7 -1.1 4.7 -6.8 19.7 -6.2 12.4 -15.2 26

 27 Life insurance companies -17.8 -10.2 53.6 30.6 20.4 71.4 62.6 49.2 39.0 134.9 87.4 27

 28 Private pension funds 27.8 14.2 43.4 34.1 20.0 44.5 62.6 62.8 34.1 18.3 32.1 28

 29 State and local govt. retirement funds -10.6 15.7 1.4 -2.9 11.2 8.7 10.9 14.1 6.8 2.9 -7.6 29

 30 Money market mutual funds -8.3 -3.4 -0.8 6.1 2.8 -14.3 -61.8 -71.9 -24.4 101.0 -93.8 30

 31 Mutual funds -5.1 -12.0 2.9 -33.1 19.1 -4.3 130.7 -86.9 82.2 -143.0 0.0 31

 32 Government-sponsored enterprises 1.2 29.3 -0.1 4.1 13.1 -11.0 -54.1 -2.7 -8.6 21.5 40.2 32

 33 Finance companies 17.4 -110.1 -5.9 -33.4 -22.3 9.4 -44.8 8.8 -17.0 90.5 14.8 33

 34 REITs 10.2 1.3 8.5 25.8 12.2 16.9 39.3 44.8 14.9 -31.6 24.3 34

 35 Brokers and dealers 72.6 10.6 -32.0 11.1 53.7 -0.0 149.0 8.7 -87.1 -70.6 61.3 35

 36 Holding companies 82.3 -33.6 -46.2 -85.0 170.8 -62.7 -11.1 8.6 -108.6 -139.5 -36.0 36

 37 Discrepancy 246.3 258.2 415.4 326.1 -176.7 298.5 53.3 188.3 630.8 321.7 138.2 37
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F.11 Sector Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 All sectors 418.5 312.6 335.9 438.3 -229.6 173.4 235.4 -135.2 890.5 -297.2 468.4 1

 2 Household sector 35.8 -306.5 -690.1 -291.0 -387.4 -357.8 -304.4 -300.8 80.7 -906.8 -708.3 2

 3 Nonfinancial corporate business -135.6 296.1 797.5 761.9 209.3 325.2 267.7 221.6 571.2 240.2 433.0 3

 4 Federal government -54.3 -49.1 -9.9 -61.2 -42.1 -53.7 64.3 -286.0 155.5 -148.4 -135.9 4

 5 State and local governments 64.7 -8.8 76.0 3.8 20.9 -16.5 26.3 -30.5 -20.3 -41.8 -39.0 5

 6 Domestic financial sectors 158.1 200.5 97.0 -4.4 -81.5 -25.5 91.0 59.7 -358.9 106.0 28.5 6

 7 Monetary authority -6.0 -10.0 -1.2 -18.8 -1.9 -3.4 -4.1 -2.8 -2.6 -4.0 -3.3 7

 8 U.S.-chartered depository institutions 169.4 157.4 90.0 42.8 -29.1 53.0 194.0 46.3 -187.8 159.4 -90.8 8

 9 Foreign banking officed in U.S. 175.1 -17.6 1.4 12.2 -53.0 -54.8 -130.4 3.6 -68.8 -23.6 23.1 9

 10 Banks in U.S.-affiliated areas 6.2 -0.0 1.0 -0.1 -0.3 -0.2 2.8 1.2 -3.0 -1.8 3.3 10

 11 Credit unions 12.6 -6.4 -27.2 4.8 13.8 -7.5 -19.0 -13.8 -0.8 3.5 -18.0 11

 12 Property-casualty insurance companies -22.2 76.6 4.6 -15.0 6.8 -6.6 7.4 14.6 -14.8 -33.6 -15.5 12

 13 Life insurance companies -84.7 -31.8 -30.3 -38.0 -22.5 -36.6 -40.8 -27.8 -21.7 -56.3 -29.3 13

 14 Mutual funds -40.7 -24.9 -35.7 -39.8 -41.3 -14.1 -16.5 -18.1 -11.0 -10.8 -10.1 14

 15 Government-sponsored enterprises 9.1 43.0 3.0 34.3 0.7 22.7 103.2 22.7 -95.7 60.5 57.4 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 0.0 16

 17 Finance companies 11.5 9.9 43.2 30.6 20.9 -12.9 -18.9 -4.8 -15.6 -12.3 30.8 17

 18 REITs -11.7 8.1 18.2 28.4 57.4 40.4 20.2 18.9 52.9 69.7 69.4 18

 19 Brokers and dealers -56.3 -6.0 30.5 -43.0 -30.2 -1.5 -3.9 23.4 14.3 -39.7 15.5 19

 20 Holding companies -4.0 2.3 -0.2 -2.6 -2.7 -3.8 -2.6 -3.7 -4.1 -4.7 -3.8 20

 21 Rest of the world 349.8 180.3 65.5 29.1 51.2 301.7 90.4 200.8 462.2 453.5 890.1 21

F.12 Instrument Discrepancies

Billions of dollars; quarterly figures are seasonally adjusted annual rates

 1 All types 418.5 312.6 335.9 438.3 -229.6 173.4 235.4 -135.2 890.5 -297.2 468.4 1

 2 Treasury currency -4.4 -1.1 -0.7 -0.6 -1.1 -1.1 -1.0 -0.9 -1.8 -0.5 -1.5 2

 3 Foreign deposits -55.1 49.2 -136.3 -137.3 -3.2 -84.1 -14.8 -137.9 190.9 -374.4 -129.1 3

 4 Net interbank transactions 14.5 25.8 3.5 5.7 56.8 -47.1 189.5 -55.5 -139.3 -183.0 298.6 4

 5 Security repurchase agreements 208.6 54.6 70.2 -6.3 -161.8 -141.1 -40.0 -323.8 15.1 -215.5 -29.8 5

 6 Mail floats -0.3 -1.1 0.8 1.5 -0.7 0.9 -39.3 97.7 -1.3 -53.6 -40.6 6

 7 Federal government 0.7 0.0 -0.1 0.6 0.4 1.1 -43.2 97.6 4.4 -54.3 -42.0 7

 8 State and local governments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Private domestic -1.0 -1.1 0.9 0.9 -1.2 -0.3 4.0 0.1 -5.8 0.7 1.4 9

 10 Trade credit 122.7 -10.2 -42.8 64.2 -130.3 7.5 -61.0 22.9 50.7 17.5 -19.8 10

 11 Taxes payable -33.5 -8.6 -8.1 -19.7 -19.2 -36.7 -23.1 -73.9 -14.6 -35.1 -70.2 11

 12 Miscellaneous 246.3 258.2 415.4 326.1 -176.7 298.5 53.3 188.3 630.8 321.7 138.2 12

 13 Nonfinancial -80.3 -54.1 33.9 204.6 206.5 176.4 171.9 147.8 160.1 225.9 322.5 13

 Nonfinancial components (sign reversed):

 14 Statistical discrepancy (NIPA) 75.3 49.2 -38.3 -209.2 -211.9 -182.0 -177.5 -153.5 -165.7 -231.6 -328.3 14

 15 Contr. for govt. soc. insur., U.S. affiliated areas 5.0 4.9 4.4 4.6 5.4 5.6 5.6 5.6 5.6 5.7 5.8 15
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L.100 Domestic Nonfinancial Sectors (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 69571.2 75018.2 76643.8 82079.9 90583.9 94907.6 91395.8 93124.3 93091.2 94907.6 96210.0 1

 2 U.S. official reserve assets 94.3 95.1 110.9 114.2 109.8 98.0 109.3 110.1 103.7 98.0 88.7 2

 3 Foreign deposits 94.3 107.9 92.2 85.1 130.5 119.1 118.9 128.2 133.4 119.1 118.7 3

 4 Checkable deposits and currency 1378.3 1636.8 1751.4 1932.3 2219.6 2512.2 2213.5 2292.5 2328.1 2512.2 2408.3 4

 5 Time and savings deposits 7416.5 7598.3 8003.0 8449.3 8730.5 9247.9 8911.2 8934.0 9036.5 9247.9 9473.3 5

 6 Money market fund shares 2178.5 1855.0 1803.0 1868.5 1938.7 1927.7 1873.7 1838.9 1871.8 1927.7 1849.5 6

 7 Security repurchase agreements 134.2 137.8 133.4 135.0 136.7 151.7 141.9 147.9 148.6 151.7 157.8 7

 8 Credit market instruments 7379.5 7630.0 7050.3 6984.9 6687.7 6321.3 6541.8 6426.8 6375.6 6321.3 6388.0 8

 9 Open market paper 167.8 191.8 177.7 161.4 127.4 115.8 124.2 118.0 116.3 115.8 116.1 9

 10 Treasury securities 1528.8 1814.4 1369.7 1641.5 1646.1 1453.1 1598.4 1447.3 1432.4 1453.1 1448.4 10

 11 Agency- and GSE-backed securities 1058.3 1016.2 846.9 674.4 609.9 497.7 519.0 525.5 501.9 497.7 495.0 11

 12 Municipal securities 1871.5 1913.9 1847.1 1703.6 1647.4 1574.0 1640.5 1637.1 1586.3 1574.0 1591.0 12

 13 Corporate and foreign bonds 1706.1 1527.5 1519.2 1402.2 1143.9 1052.3 1102.7 1126.5 1127.4 1052.3 1061.3 13

 14 Other loans and advances 202.1 205.1 207.1 207.1 219.3 220.1 221.8 218.3 219.0 220.1 220.1 14

 15 Mortgages 480.2 481.4 476.6 463.9 460.3 471.0 463.1 467.9 467.7 471.0 480.5 15

 16 Consumer credit 364.5 479.6 606.1 730.8 833.4 937.4 872.1 886.3 924.6 937.4 975.6 16

 17 Corporate equities 7435.1 8873.0 8680.8 9854.6 12700.5 13572.4 12781.4 13514.4 12983.2 13572.4 13857.8 17

 18 Mutual fund shares 4310.9 4850.5 4847.4 5876.1 7313.1 8016.8 7590.4 7889.5 7864.4 8016.8 8248.8 18

 19 Trade receivables 2734.2 2885.6 3040.7 3105.5 3411.8 3557.3 3487.9 3580.3 3603.6 3557.3 3656.4 19

 20 Security credit 701.7 725.2 726.1 757.0 815.5 869.0 866.2 866.6 892.5 869.0 870.5 20

 21 Life insurance reserves 1109.5 1137.5 1199.3 1186.4 1233.0 1282.8 1242.6 1256.7 1263.3 1282.8 1304.8 21

 22 Pension entitlements 15458.1 17035.7 17447.7 18460.8 19893.7 20783.7 20093.4 20402.1 20476.3 20783.7 20991.9 22

 23 Taxes payable 250.9 262.1 272.8 279.9 289.6 310.2 296.2 297.0 304.5 310.2 315.9 23

 24 Equity in noncorpate business 6258.6 6894.2 7587.0 8386.5 9502.9 9924.7 9578.5 9668.0 9791.8 9924.7 10156.2 24

 25 U.S. direct investment abroad 3245.1 3402.9 3759.2 4081.0 4370.0 4594.1 4394.9 4465.6 4530.7 4594.1 4691.7 25

 26 Miscellaneous assets 9391.5 9890.6 10138.6 10522.9 11100.1 11618.7 11154.0 11305.7 11383.0 11618.7 11631.6 26

 27 Total liabilities 48417.0 50544.2 52502.4 54859.5 56264.8 58583.3 56728.8 57181.3 57872.3 58583.3 59138.8 27

 28 U.S. official reserve assets 55.4 54.4 54.2 54.3 54.4 51.2 54.6 54.6 52.4 51.2 48.7 28

 29 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 29

 30 Treasury currency 26.2 25.9 25.9 25.9 25.6 25.3 25.6 25.6 25.3 25.3 25.3 30

 31 Credit market instruments 34469.7 35618.2 36751.2 38411.2 39762.4 41438.7 40183.6 40392.6 40836.3 41438.7 41735.8 31

 32 Open market paper 58.4 82.9 116.3 130.3 144.5 182.4 180.2 185.9 208.5 182.4 187.6 32

 33 Treasury securities 7781.9 9361.5 10428.3 11568.9 12328.3 12995.6 12590.8 12544.4 12755.6 12995.6 13062.6 33

 34 Agency- and GSE-backed securities 23.5 24.2 25.3 24.9 24.5 24.4 24.0 24.0 23.9 24.4 24.1 34

 35 Municipal securities 3672.5 3772.1 3719.4 3714.4 3671.2 3652.4 3660.8 3661.4 3631.1 3652.4 3694.0 35

 36 Corporate and foreign bonds 3197.0 3376.3 3538.3 3861.8 4141.5 4406.4 4213.2 4272.1 4321.7 4406.4 4518.9 36

 37 Depository institution loans n.e.c. 1474.2 1465.6 1541.7 1742.8 1868.8 2145.9 1909.4 2014.8 2053.4 2145.9 2210.3 37

 38 Other loans and advances 1458.4 1269.4 1333.0 1372.4 1408.0 1483.9 1440.7 1428.3 1445.9 1483.9 1481.4 38

 39 Mortgages 14251.6 13619.2 13293.5 13072.8 13076.6 13230.4 13059.5 13089.8 13147.2 13230.4 13235.3 39

 40 Consumer credit 2552.3 2646.9 2755.4 2922.9 3098.8 3317.2 3105.0 3171.9 3249.0 3317.2 3321.6 40

 41 Trade payables 3100.8 3301.7 3430.1 3566.0 3748.1 3918.9 3775.5 3844.5 3881.2 3918.9 3958.9 41

 42 Security credit 203.0 278.2 238.9 303.7 339.2 369.5 320.6 375.4 390.3 369.5 354.3 42

 43 Life insurance reserves 47.8 48.7 50.0 50.3 50.5 51.3 50.5 50.6 50.9 51.3 50.7 43

 44 Taxes payable 135.6 142.0 151.4 161.3 155.8 162.6 162.6 160.3 169.4 162.6 191.0 44

 45 Foreign direct investment in U.S. 1991.2 2134.0 2236.8 2415.5 2617.5 2720.2 2577.5 2635.8 2671.7 2720.2 2798.8 45

 46 Miscellaneous liabilities 8382.0 8935.9 9558.7 9866.1 9506.1 9840.4 9573.1 9636.7 9789.7 9840.4 9970.0 46

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

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 48618.0 52888.2 54071.3 58417.9 65352.0 68314.7 66007.7 67288.6 67006.9 68314.7 69382.6 1

 2 Deposits 8097.7 8071.0 8716.1 9239.0 9600.2 10144.1 9760.6 9771.4 9897.4 10144.1 10287.2 2

 3 Foreign deposits 62.7 67.3 57.4 49.7 52.5 47.0 51.5 50.3 53.2 47.0 44.9 3

 4 Checkable deposits and currency 396.1 423.7 728.8 892.1 1013.6 1127.5 1059.9 1078.2 1060.6 1127.5 1154.2 4

 5 Time and savings deposits 6326.0 6450.8 6820.0 7187.1 7398.4 7867.4 7550.0 7573.4 7695.8 7867.4 8057.1 5

 6 Money market fund shares 1312.9 1129.2 1109.9 1110.2 1135.7 1102.1 1099.2 1069.5 1087.7 1102.1 1030.9 6

 7 Credit market instruments 4835.3 4915.1 4395.5 4208.9 3856.9 3314.5 3666.5 3502.7 3419.0 3314.5 3271.4 7

 8 Open market paper 22.7 21.1 19.4 18.8 15.0 14.9 15.9 16.1 15.9 14.9 15.2 8

 9 Treasury securities 853.3 1122.6 717.0 943.1 956.6 696.7 900.4 721.1 704.9 696.7 640.2 9

 10 Agency- and GSE-backed securities 356.4 334.2 299.3 176.8 141.1 41.3 55.6 60.8 43.8 41.3 42.6 10

 11 Municipal securities 1827.9 1871.4 1805.7 1661.2 1605.9 1540.0 1602.4 1600.7 1552.7 1540.0 1554.4 11

 12 Corporate and foreign bonds 1548.5 1361.1 1355.3 1235.4 976.9 874.9 932.9 952.4 953.1 874.9 876.1 12

 13 Other loans and advances (2) 26.8 26.2 23.4 20.9 25.9 24.3 26.6 22.2 23.0 24.3 24.4 13

 14 Mortgages 110.9 100.1 100.9 87.1 76.2 68.8 74.5 72.5 70.5 68.8 66.7 14

 15 Consumer credit (student loans) 88.8 78.4 74.5 65.6 59.3 53.6 58.1 57.0 55.2 53.6 51.9 15

 16 Corporate equities (3) 7255.8 8696.2 8498.4 9676.3 12501.8 13360.7 12580.0 13307.1 12777.4 13360.7 13640.8 16

 17 Mutual fund shares 4100.4 4605.0 4622.5 5630.4 7023.0 7695.3 7292.8 7579.3 7553.1 7695.3 7918.8 17

 18 Security credit 701.7 725.2 726.1 757.0 815.5 869.0 866.2 866.6 892.5 869.0 870.5 18

 19 Life insurance reserves 1109.5 1137.5 1199.3 1186.4 1233.0 1282.8 1242.6 1256.7 1263.3 1282.8 1304.8 19

 20 Pension entitlements (4) 15458.1 17035.7 17447.7 18460.8 19893.7 20783.7 20093.4 20402.1 20476.3 20783.7 20991.9 20

 21 Claims of pension fund on sponsor 3212.0 3523.7 3928.9 3839.1 3116.3 3196.1 3187.1 3114.0 3233.3 3196.1 3369.7 21

 22 Funded pension entitlements 12246.1 13512.0 13518.8 14621.7 16777.4 17587.6 16906.3 17288.1 17243.0 17587.6 17622.1 22

 23 Equity in noncorporate business 6258.6 6894.2 7587.0 8386.5 9502.9 9924.7 9578.5 9668.0 9791.8 9924.7 10156.2 23

 24 Miscellaneous assets 800.9 808.2 878.8 872.7 924.9 940.1 927.1 934.7 936.2 940.1 940.9 24

 25 Total liabilities 14062.8 13782.3 13570.9 13637.8 13792.5 14168.9 13780.6 13949.1 14075.3 14168.9 14151.6 25

 26 Credit market instruments 13559.6 13230.6 13057.8 13055.1 13170.4 13512.1 13175.1 13286.6 13398.1 13512.1 13508.6 26

 27 Home mortgages (5) 10419.4 9915.6 9695.9 9490.2 9405.9 9403.1 9373.9 9370.2 9386.3 9403.1 9370.5 27

 28 Consumer credit 2552.3 2646.9 2755.4 2922.9 3098.8 3317.2 3105.0 3171.9 3249.0 3317.2 3321.6 28

 29 Municipal securities 265.4 263.2 255.5 241.0 227.8 223.1 227.6 227.0 224.6 223.1 223.0 29

 30 Depository institution loans n.e.c. (6) -15.9 61.0 11.5 62.6 92.7 212.9 123.0 168.4 186.7 212.9 235.1 30

 31 Other loans and advances 133.7 136.1 138.1 139.3 141.3 144.2 141.0 142.6 143.0 144.2 144.6 31

 32 Commercial mortgages 204.7 207.7 201.4 199.1 203.9 211.7 204.5 206.4 208.3 211.7 213.7 32

 33 Security credit 203.0 278.2 238.9 303.7 339.2 369.5 320.6 375.4 390.3 369.5 354.3 33

 34 Trade payables 278.2 248.8 250.0 254.0 255.0 258.1 256.0 256.9 257.4 258.1 258.5 34

 35 Deferred and unpaid life insurance premiums 22.1 24.7 24.3 24.9 27.9 29.1 28.9 30.2 29.6 29.1 30.2 35
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L.102 Nonfinancial Business (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 16893.8 17745.0 18420.1 19301.3 20632.1 21633.9 20727.3 21099.2 21278.2 21633.9 21853.6 1

 2 Foreign deposits 31.5 40.6 34.8 35.4 78.1 72.1 67.4 77.9 80.2 72.1 73.7 2

 3 Checkable deposits and currency 689.3 766.1 816.8 830.6 918.2 1017.1 889.3 953.7 983.9 1017.1 1019.3 3

 4 Time and savings deposits 842.1 905.0 924.2 967.5 1019.4 1057.1 1040.0 1045.4 1019.0 1057.1 1083.5 4

 5 Money market fund shares 729.2 574.7 540.1 600.1 642.2 652.4 610.5 600.7 614.5 652.4 637.2 5

 6 Security repurchase agreements 7.9 12.1 12.6 9.7 8.8 13.5 11.3 13.5 13.4 13.5 12.8 6

 7 Credit market instruments 311.7 324.6 312.8 301.8 280.1 268.4 272.6 268.2 267.1 268.4 272.3 7

 8 Commercial paper 56.0 68.0 67.9 59.5 38.2 31.6 35.1 29.2 30.0 31.6 31.0 8

 9 Treasury securities 89.1 96.1 91.9 92.4 97.2 95.5 95.5 96.1 96.0 95.5 97.7 9

 10 Agency- and GSE-backed securities 14.3 16.0 14.3 13.1 10.3 12.8 11.6 13.5 13.3 12.8 13.2 10

 11 Municipal securities 32.2 29.6 28.2 29.0 28.0 19.8 24.5 22.4 19.6 19.8 21.7 11

 12 Mortgages 67.5 70.1 63.7 59.4 62.2 65.8 62.8 63.7 64.6 65.8 66.8 12

 13 Consumer credit 52.6 45.0 46.9 48.4 44.2 43.0 43.1 43.3 43.5 43.0 41.9 13

 14 Mutual fund shares 162.0 186.8 165.9 179.6 211.0 234.9 217.1 226.5 227.6 234.9 240.5 14

 15 Trade receivables 2551.4 2690.4 2835.2 2891.8 3186.3 3326.7 3260.0 3348.4 3370.5 3326.7 3422.0 15

 16 U.S. direct investment abroad 3245.1 3402.9 3759.2 4081.0 4370.0 4594.1 4394.9 4465.6 4530.7 4594.1 4691.7 16

 17 Miscellaneous assets 8323.6 8841.8 9018.6 9403.7 9918.1 10397.6 9964.2 10099.3 10171.1 10397.6 10400.5 17

 18 Total liabilities 18634.6 18898.9 19581.4 20593.3 21419.0 22381.7 21538.3 21841.4 22088.8 22381.7 22702.7 18

 19 Credit market instruments 10136.3 9964.0 10254.6 10782.3 11298.0 11979.1 11462.0 11603.2 11750.6 11979.1 12177.9 19

 20 Commercial paper 58.4 82.9 116.3 130.3 144.5 182.4 180.2 185.9 208.5 182.4 187.6 20

 21 Municipal securities 452.2 485.4 493.9 509.1 518.5 518.4 517.7 516.4 514.8 518.4 525.1 21

 22 Corporate bonds 3197.0 3376.3 3538.3 3861.8 4141.5 4406.4 4213.2 4272.1 4321.7 4406.4 4518.9 22

 23 Depository institution loans n.e.c. 1490.1 1404.6 1530.2 1680.1 1776.1 1933.0 1786.4 1846.4 1866.7 1933.0 1975.2 23

 24 Other loans and advances 1311.1 1118.9 1179.7 1217.4 1250.5 1323.1 1283.4 1269.2 1286.4 1323.1 1320.1 24

 25 Mortgages 3627.5 3495.9 3396.2 3383.5 3466.9 3615.7 3481.0 3513.2 3552.6 3615.7 3651.2 25

 26 Trade payables 1987.6 2174.2 2254.2 2334.0 2455.8 2565.3 2463.4 2511.5 2533.2 2565.3 2588.1 26

 27 Taxes payable 135.6 142.0 151.4 161.3 155.8 162.6 162.6 160.3 169.4 162.6 191.0 27

 28 Foreign direct investment in U.S. 1991.2 2134.0 2236.8 2415.5 2617.5 2720.2 2577.5 2635.8 2671.7 2720.2 2798.8 28

 29 Miscellaneous liabilities 4383.9 4484.6 4684.4 4900.3 4891.8 4954.5 4872.8 4930.6 4963.9 4954.5 4946.8 29

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

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 13317.5 14016.8 14505.6 15084.9 16338.4 17105.6 16410.4 16720.7 16854.7 17105.6 17242.6 1

 2 Foreign deposits 31.5 40.6 34.8 35.4 78.1 72.1 67.4 77.9 80.2 72.1 73.7 2

 3 Checkable deposits and currency 154.9 234.5 264.2 218.4 303.5 368.6 270.9 326.2 349.6 368.6 361.3 3

 4 Time and savings deposits 488.8 548.7 561.9 595.2 636.2 646.9 655.0 655.1 624.8 646.9 654.2 4

 5 Money market fund shares 655.5 497.8 462.4 519.4 559.1 565.2 527.1 516.1 529.1 565.2 548.5 5

 6 Security repurchase agreements 7.9 12.1 12.6 9.7 8.8 13.5 11.3 13.5 13.4 13.5 12.8 6

 7 Credit market instruments 222.5 228.9 221.8 209.0 184.6 167.9 176.6 170.9 168.8 167.9 170.2 7

 8 Commercial paper 56.0 68.0 67.9 59.5 38.2 31.6 35.1 29.2 30.0 31.6 31.0 8

 9 Treasury securities 43.0 48.0 43.0 39.4 42.8 38.3 40.8 40.6 40.0 38.3 39.6 9

 10 Agency- and GSE-backed securities 14.3 16.0 14.3 13.1 10.3 12.8 11.6 13.5 13.3 12.8 13.2 10

 11 Municipal securities 27.1 23.9 22.3 22.9 21.8 13.2 18.2 16.1 13.2 13.2 15.0 11

 12 Mortgages 29.5 28.0 27.4 25.5 27.4 29.2 27.8 28.3 28.7 29.2 29.6 12

 13 Consumer credit 52.6 45.0 46.9 48.4 44.2 43.0 43.1 43.3 43.5 43.0 41.9 13

 14 Mutual fund shares 162.0 186.8 165.9 179.6 211.0 234.9 217.1 226.5 227.6 234.9 240.5 14

 15 Trade receivables 2055.1 2157.1 2240.8 2292.8 2570.0 2678.9 2640.7 2720.5 2736.4 2678.9 2763.6 15

 16 U.S. direct investment abroad (1) 3245.1 3402.9 3759.2 4081.0 4370.0 4594.1 4394.9 4465.6 4530.7 4594.1 4691.7 16

 17 Miscellaneous assets 6294.1 6707.4 6782.0 6944.3 7416.9 7763.6 7449.4 7548.5 7594.0 7763.6 7725.9 17

 18 Insurance receivables 307.0 318.7 328.8 336.4 329.8 338.1 330.9 334.8 338.1 338.1 337.1 18

 19 Equity in GSEs 0.4 0.6 0.5 0.6 0.6 0.7 0.7 0.7 0.7 0.7 0.8 19

 20 Investment in finance company subs. 71.2 60.7 69.1 71.7 86.4 100.5 103.1 101.9 100.3 100.5 98.7 20

 21 Other 5915.5 6327.4 6383.6 6535.6 7000.1 7324.4 7014.6 7111.1 7154.9 7324.4 7289.4 21

 22 Total liabilities 12903.6 13226.7 13878.4 14695.2 15471.1 16177.4 15572.6 15804.6 16001.4 16177.4 16403.4 22

 23 Credit market instruments 6150.9 6013.1 6308.0 6714.1 7115.3 7579.2 7263.4 7345.6 7448.9 7579.2 7717.7 23

 24 Commercial paper 58.4 82.9 116.3 130.3 144.5 182.4 180.2 185.9 208.5 182.4 187.6 24

 25 Municipal securities (2) 452.2 485.4 493.9 509.1 518.5 518.4 517.7 516.4 514.8 518.4 525.1 25

 26 Corporate bonds (1) 3197.0 3376.3 3538.3 3861.8 4141.5 4406.4 4213.2 4272.1 4321.7 4406.4 4518.9 26

 27 Depository institution loans n.e.c. 545.8 477.1 569.2 658.4 708.3 794.1 719.3 748.6 762.3 794.1 811.9 27

 28 Other loans and advances (3) 1139.0 948.1 1008.3 1036.8 1063.6 1126.7 1095.6 1080.8 1095.9 1126.7 1125.4 28

 29 Mortgages 758.5 643.3 581.9 517.7 538.9 551.1 537.4 541.8 545.8 551.1 548.9 29

 30 Trade payables 1590.1 1746.4 1771.6 1837.8 1943.2 2027.3 1947.3 1987.4 2004.1 2027.3 2035.3 30

 31 Taxes payable 35.7 42.9 51.7 54.0 44.9 45.3 51.1 47.0 54.8 45.3 68.9 31

 32 Foreign direct investment in U.S. 1986.4 2128.7 2230.7 2408.9 2610.3 2712.0 2569.9 2628.1 2663.8 2712.0 2790.4 32

 33 Miscellaneous liabilities 3140.5 3295.6 3516.4 3680.5 3757.5 3813.6 3740.9 3796.5 3829.7 3813.6 3791.1 33

 34 Pension fund contributions payable 75.4 90.8 93.8 81.4 80.9 81.7 80.7 81.1 82.0 81.7 83.4 34

 35 Claims of pension fund on sponsor 497.6 446.5 517.2 389.8 131.4 19.4 103.8 31.7 49.7 19.4 4.0 35

 36 Other 2567.5 2758.3 2905.4 3209.3 3545.2 3712.5 3556.4 3683.7 3697.9 3712.5 3703.7 36

 Memo:

 37 Trade receivables net of payables 465.0 410.7 469.2 455.1 626.9 651.5 693.4 733.2 732.3 651.5 728.3 37

 38 Market value of equities 12512.2 14356.5 14369.4 15961.6 20718.3 22283.4 20921.0 21891.0 21444.5 22283.4 22443.9 38

 39 Securities and mortgages 4407.6 4504.9 4614.1 4888.6 5198.9 5476.0 5268.3 5330.3 5382.2 5476.0 5592.8 39

 40 Loans and short-term paper 1743.3 1508.2 1693.9 1825.5 1916.4 2103.2 1995.1 2015.3 2066.7 2103.2 2124.8 40

 41 Total short-term liabilities (4) 3369.0 3297.5 3517.1 3717.2 3904.5 4175.8 3993.5 4049.6 4125.7 4175.8 4229.1 41

 42 Total liquid assets (5) 1641.0 1676.5 1649.2 1692.8 1909.8 1996.9 1854.5 1914.6 1921.3 1996.9 1989.8 42

 Analytical measures (percent)

 43 Long-term debt/credit market debt 71.7 74.9 73.1 72.8 73.1 72.2 72.5 72.6 72.3 72.2 72.5 43

 44 Short-term debt/credit market debt 28.3 25.1 26.9 27.2 26.9 27.8 27.5 27.4 27.7 27.8 27.5 44

 45 Liquid assets/short-term liabilities 48.7 50.8 46.9 45.5 48.9 47.8 46.4 47.3 46.6 47.8 47.1 45

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

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

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

(4) Sum of lines 24, 27, 28, 30, and 31. Includes loans due in more than one year and excludes current maturities of bonds and mortgages.

(5) Sum of lines 2 through 6, lines 8 through 11, and line 14.
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L.104 Nonfinancial Noncorporate Business

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3576.3 3728.3 3914.6 4216.4 4293.7 4528.3 4316.9 4378.4 4423.4 4528.3 4611.0 1

 2 Checkable deposits and currency 534.4 531.6 552.7 612.2 614.6 648.5 618.4 627.5 634.4 648.5 658.0 2

 3 Time and savings deposits 353.3 356.2 362.2 372.3 383.1 410.2 385.0 390.3 394.2 410.2 429.3 3

 4 Money market fund shares 73.7 76.8 77.7 80.7 83.0 87.3 83.4 84.6 85.4 87.3 88.7 4

 5 Credit market instruments 89.1 95.8 91.1 92.9 95.5 100.4 96.0 97.3 98.3 100.4 102.1 5

 6 Treasury securities 46.1 48.1 48.9 52.9 54.5 57.2 54.7 55.5 56.0 57.2 58.2 6

 7 Municipal securities 5.1 5.6 5.9 6.1 6.3 6.6 6.3 6.4 6.4 6.6 6.7 7

 8 Mortgages 37.9 42.1 36.3 33.9 34.8 36.6 35.0 35.5 35.8 36.6 37.2 8

 9 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Trade receivables 496.3 533.4 594.4 598.9 616.3 647.9 619.3 627.9 634.1 647.9 658.4 10

 11 Miscellaneous assets 2029.5 2134.4 2236.6 2459.4 2501.1 2634.0 2514.8 2550.8 2577.1 2634.0 2674.6 11

 12 Insurance receivables 101.8 131.7 120.1 135.9 108.5 116.0 109.8 112.4 114.7 116.0 114.2 12

 13 Equity investment in GSEs (1) 6.3 6.7 7.0 7.2 7.8 8.5 8.0 8.1 8.3 8.5 8.6 13

 14 Other 1921.3 1996.0 2109.5 2316.4 2384.8 2509.4 2396.9 2430.3 2454.2 2509.4 2551.8 14

 15 Total liabilities 5731.0 5672.2 5703.0 5898.1 5947.9 6204.3 5965.6 6036.9 6087.4 6204.3 6299.2 15

 16 Credit market instruments 3985.4 3950.9 3946.6 4068.2 4182.8 4399.9 4198.6 4257.6 4301.6 4399.9 4460.2 16

 17 Depository institution loans n.e.c. 944.2 927.4 960.9 1021.7 1067.9 1139.0 1067.1 1097.8 1104.4 1139.0 1163.3 17

 18 Other loans and advances 172.1 170.8 171.3 180.7 186.9 196.4 187.8 188.5 190.4 196.4 194.7 18

 19 Mortgages 2869.0 2852.7 2814.3 2865.8 2928.0 3064.6 2943.7 2971.4 3006.8 3064.6 3102.3 19

 20 Trade payables 397.6 427.8 482.7 496.2 512.7 538.0 516.2 524.1 529.1 538.0 552.8 20

 21 Taxes payable 99.9 99.2 99.7 107.4 110.9 117.4 111.5 113.3 114.6 117.4 122.1 21

 22 Foreign direct investment in U.S. 4.8 5.3 6.1 6.6 7.3 8.2 7.5 7.7 7.9 8.2 8.4 22

 23 Miscellaneous liabilities 1243.3 1189.0 1168.0 1219.7 1134.3 1140.9 1131.9 1134.1 1134.3 1140.9 1155.7 23

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

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 4059.4 4385.0 4152.3 4360.7 4599.8 4958.9 4660.8 4736.5 4806.1 4958.9 4973.8 1

 2 U.S. official reserve assets 94.3 95.1 110.9 114.2 109.8 98.0 109.3 110.1 103.7 98.0 88.7 2

 3 Checkable deposits and currency 292.9 446.9 205.8 209.6 287.8 367.6 264.3 260.6 283.6 367.6 234.8 3

 4 Time and savings deposits 248.4 242.6 258.8 294.6 312.7 323.4 321.2 315.1 321.7 323.4 332.7 4

 5 Money market fund shares 136.4 151.1 153.0 158.1 160.8 173.2 164.0 168.7 169.5 173.2 181.5 5

 6 Security repurchase agreements 126.3 125.7 120.8 125.3 127.9 138.2 130.6 134.4 135.2 138.2 145.0 6

 7 Credit market instruments 2232.5 2390.3 2342.0 2474.2 2550.7 2738.4 2602.7 2655.8 2689.6 2738.4 2844.3 7

 8 Open market paper 89.2 102.7 90.4 83.1 74.3 69.3 73.2 72.7 70.4 69.3 69.9 8

 9 Treasury securities 586.4 595.8 560.8 606.1 592.2 660.8 602.4 630.2 631.6 660.8 710.5 9

 10 Agency- and GSE-backed securities 687.6 666.0 533.3 484.5 458.6 443.6 451.8 451.1 444.7 443.6 439.3 10

 11 Municipal securities 11.5 12.9 13.1 13.4 13.4 14.3 13.6 14.0 14.0 14.3 14.9 11

 12 Corporate and foreign bonds 157.7 166.4 163.9 166.8 167.1 177.4 169.8 174.1 174.3 177.4 185.3 12

 13 Mortgages 301.8 311.3 312.0 317.4 321.9 336.4 325.8 331.7 332.7 336.4 347.0 13

 14 Consumer credit 223.1 356.2 484.7 616.8 729.8 840.9 770.9 786.0 825.9 840.9 881.8 14

 15 Other loans and advances 175.3 179.0 183.7 186.2 193.4 195.8 195.1 196.1 196.0 195.8 195.7 15

 16 Corporate equities 179.3 176.8 182.5 178.4 198.7 211.7 201.4 207.3 205.9 211.7 217.0 16

 17 Mutual fund shares 48.5 58.7 59.0 66.2 79.1 86.7 80.6 83.8 83.6 86.7 89.5 17

 18 Trade receivables 182.8 195.1 205.5 213.7 225.5 230.5 227.9 231.9 233.1 230.5 234.4 18

 19 Taxes receivable 250.9 262.1 272.8 279.9 289.6 310.2 296.2 297.0 304.5 310.2 315.9 19

 20 Miscellaneous assets 267.0 240.6 241.2 246.5 257.1 281.0 262.8 271.7 275.7 281.0 290.2 20

 21 Total liabilities 15719.6 17863.1 19350.0 20628.4 21053.3 22032.7 21409.9 21390.8 21708.2 22032.7 22284.5 21

 22 SDR allocations 55.4 54.4 54.2 54.3 54.4 51.2 54.6 54.6 52.4 51.2 48.7 22

 23 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 23

 24 Treasury currency 26.2 25.9 25.9 25.9 25.6 25.3 25.6 25.6 25.3 25.3 25.3 24

 25 Credit market instruments 10773.8 12423.6 13438.8 14573.7 15293.9 15947.4 15546.6 15502.8 15687.7 15947.4 16049.3 25

 26 U.S. savings securities 191.3 188.0 185.3 182.5 179.2 176.0 178.4 177.7 176.8 176.0 175.0 26

 27 Treasury bills and other Treasury securities 7590.6 9173.5 10243.0 11386.4 12149.1 12819.6 12412.4 12366.7 12578.8 12819.6 12887.6 27

 28 Budget agency securities 23.5 24.2 25.3 24.9 24.5 24.4 24.0 24.0 23.9 24.4 24.1 28

 29 Municipal securities 2954.9 3023.6 2970.0 2964.3 2924.9 2910.9 2915.5 2918.0 2891.8 2910.9 2945.9 29

 30 Multifamily residential mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 30

 31 Other loans and advances 13.5 14.4 15.3 15.7 16.2 16.6 16.3 16.4 16.5 16.6 16.7 31

 32 Trade payables 835.0 878.7 925.9 978.0 1037.3 1095.5 1056.1 1076.1 1090.6 1095.5 1112.3 32

 33 Insurance reserves 47.8 48.7 50.0 50.3 50.5 51.3 50.5 50.6 50.9 51.3 50.7 33

 34 Miscellaneous liabilities 3976.1 4426.6 4850.0 4940.9 4586.5 4856.9 4671.4 4675.9 4796.2 4856.9 4992.9 34

 Memo:

 35 Total financial assets (consolidated) (2) 3459.5 3774.9 3576.3 3739.0 3991.3 4281.5 4042.1 4089.9 4158.1 4281.5 4246.7 35

 36 Total liabilities (consolidated) (2) 15119.6 17252.9 18773.9 20006.6 20444.9 21355.3 20791.3 20744.2 21060.2 21355.3 21557.3 36

(1) Sum of the federal government (table L.106) and state and local governments (table L.107) sectors.

(2) Excludes Treasury securities held by state and local governments (line 9) and federal government loans to state and local governments (line 31).
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L.106 Federal Government

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1387.1 1612.2 1411.3 1516.9 1718.5 1901.3 1747.1 1768.7 1827.0 1901.3 1819.3 1

 2 U.S. official reserve assets 94.3 95.1 110.9 114.2 109.8 98.0 109.3 110.1 103.7 98.0 88.7 2

 3 Checkable deposits and currency 193.9 342.3 84.6 92.2 163.0 226.8 142.6 139.6 160.5 226.8 104.8 3

 4 Time and savings deposits 1.9 2.0 1.7 2.0 1.5 1.7 1.5 1.5 1.6 1.7 1.6 4

 5 Credit market instruments 703.7 791.8 810.1 915.1 1039.2 1154.4 1082.5 1099.1 1139.6 1154.4 1196.1 5

 6 Agency- and GSE-backed securities 196.4 149.2 31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Corporate and foreign bonds 0.6 0.9 0.8 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 7

 8 Other loans and advances 175.3 179.0 183.7 186.2 193.4 195.8 195.1 196.1 196.0 195.8 195.7 8

 9 Mortgages 108.4 106.6 109.9 111.5 115.5 117.2 116.0 116.5 117.3 117.2 118.1 9

 10 Consumer credit (1) 223.1 356.2 484.7 616.8 729.8 840.9 770.9 786.0 825.9 840.9 881.8 10

 11 Corporate equities (2) 67.4 49.9 57.8 39.9 35.1 33.4 34.9 34.7 33.6 33.4 33.3 11

 12 Trade receivables 43.6 42.9 47.7 50.3 53.6 51.0 55.4 56.1 55.8 51.0 53.2 12

 13 Taxes receivable 133.9 144.3 152.8 158.6 165.8 173.0 167.6 169.4 171.2 173.0 176.0 13

 14 Miscellaneous assets 148.3 143.8 145.6 144.6 150.5 163.0 153.2 158.2 160.9 163.0 165.6 14

 15 Total liabilities 11003.7 12812.7 13996.3 15252.9 16133.6 16920.0 16427.5 16417.4 16653.8 16920.0 17071.0 15

 16 SDR allocations 55.4 54.4 54.2 54.3 54.4 51.2 54.6 54.6 52.4 51.2 48.7 16

 17 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 17

 18 Treasury currency 26.2 25.9 25.9 25.9 25.6 25.3 25.6 25.6 25.3 25.3 25.3 18

 19 Credit market instruments 7805.4 9385.6 10453.6 11593.7 12352.8 13019.9 12614.8 12568.4 12779.4 13019.9 13086.7 19

 20 U.S. savings securities 191.3 188.0 185.3 182.5 179.2 176.0 178.4 177.7 176.8 176.0 175.0 20

 21 Treasury bills 1787.9 1768.9 1519.5 1626.5 1590.6 1456.7 1650.2 1386.4 1409.6 1456.7 1476.5 21

 22 Other Treasury securities 5802.7 7404.6 8723.6 9759.9 10558.5 11362.9 10762.2 10980.3 11169.2 11362.9 11411.1 22

 23 Budget agency securities 23.5 24.2 25.3 24.9 24.5 24.4 24.0 24.0 23.9 24.4 24.1 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 0.0 24

 25 Trade payables 204.5 209.7 218.5 231.9 251.5 269.0 260.3 270.1 274.3 269.0 275.7 25

 26 Insurance reserves 47.8 48.7 50.0 50.3 50.5 51.3 50.5 50.6 50.9 51.3 50.7 26

 27 Miscellaneous liabilities 2859.2 3083.1 3189.0 3291.6 3393.7 3498.2 3416.5 3442.8 3466.2 3498.2 3578.6 27

 28 Nonmarketable securities held by pension plans (3) 1077.2 1142.9 1213.7 1254.1 1352.3 1421.1 1339.7 1342.6 1361.8 1421.1 1372.3 28

 29 Claims of pension fund on sponsor 1597.6 1733.7 1750.7 1800.0 1792.1 1818.0 1828.4 1849.3 1853.7 1818.0 1951.5 29

 30 Other 184.4 206.5 224.6 237.5 249.2 259.1 248.4 251.0 250.7 259.1 254.9 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) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military

 retirement fund, and foreign service retirement and disability fund.
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L.107 State and Local Governments (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2672.3 2772.8 2741.1 2843.9 2881.3 3057.6 2913.8 2967.8 2979.1 3057.6 3154.5 1

 2 Checkable deposits and currency 99.0 104.6 121.3 117.4 124.8 140.7 121.8 121.0 123.1 140.7 130.0 2

 3 Time and savings deposits 246.4 240.6 257.1 292.6 311.2 321.7 319.6 313.6 320.1 321.7 331.1 3

 4 Money market fund shares 136.4 151.1 153.0 158.1 160.8 173.2 164.0 168.7 169.5 173.2 181.5 4

 5 Security repurchase agreements 126.3 125.7 120.8 125.3 127.9 138.2 130.6 134.4 135.2 138.2 145.0 5

 6 Credit market instruments 1528.8 1598.4 1531.9 1559.2 1511.5 1584.0 1520.2 1556.7 1549.9 1584.0 1648.2 6

 7 Open market paper 89.2 102.7 90.4 83.1 74.3 69.3 73.2 72.7 70.4 69.3 69.9 7

 8 Treasury securities 586.4 595.8 560.8 606.1 592.2 660.8 602.4 630.2 631.6 660.8 710.5 8

 9 Agency- and GSE-backed securities 491.2 516.8 502.2 484.5 458.6 443.6 451.8 451.1 444.7 443.6 439.3 9

 10 Municipal securities 11.5 12.9 13.1 13.4 13.4 14.3 13.6 14.0 14.0 14.3 14.9 10

 11 Corporate and foreign bonds 157.1 165.5 163.1 166.1 166.5 176.9 169.3 173.6 173.8 176.9 184.7 11

 12 Mortgages 193.4 204.7 202.2 205.9 206.4 219.2 209.8 215.1 215.4 219.2 229.0 12

 13 Corporate equities 112.0 126.9 124.6 138.5 163.6 178.3 166.4 172.6 172.3 178.3 183.7 13

 14 Mutual fund shares 48.5 58.7 59.0 66.2 79.1 86.7 80.6 83.8 83.6 86.7 89.5 14

 15 Trade receivables 139.1 152.2 157.8 163.4 171.9 179.6 172.4 175.8 177.3 179.6 181.2 15

 16 Taxes receivable 117.1 117.8 120.0 121.3 123.8 137.2 128.6 127.6 133.3 137.2 139.9 16

 17 Miscellaneous assets 118.7 96.8 95.6 101.9 106.7 118.1 109.6 113.5 114.8 118.1 124.6 17

 18 Total liabilities 4715.8 5050.4 5353.7 5375.5 4919.7 5112.7 4982.5 4973.4 5054.5 5112.7 5213.5 18

 19 Credit market instruments 2968.4 3038.0 2985.3 2980.0 2941.1 2927.5 2931.8 2934.4 2908.3 2927.5 2962.6 19

 20 Municipal securities 2954.9 3023.6 2970.0 2964.3 2924.9 2910.9 2915.5 2918.0 2891.8 2910.9 2945.9 20

 21 Short-term (2) 63.6 63.0 52.3 56.1 45.3 38.6 43.0 33.6 37.0 38.6 38.1 21

 22 Long-term 2891.3 2960.6 2917.6 2908.2 2879.6 2872.3 2872.5 2884.4 2854.8 2872.3 2907.9 22

 23 U.S. government loans 13.5 14.4 15.3 15.7 16.2 16.6 16.3 16.4 16.5 16.6 16.7 23

 24 Trade payables 630.5 669.0 707.4 746.2 785.8 826.5 795.8 806.0 816.3 826.5 836.6 24

 25 Claims of pension fund on sponsor (3) 1116.9 1343.4 1661.0 1649.3 1192.8 1358.6 1254.9 1233.1 1329.9 1358.6 1414.3 25

(1) Data for state and local government employee retirement funds are shown in table L.120.

(2) Debt with original maturity of 13 months or less.

(3) Included in miscellaneous liabilities.
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L.108 Domestic Financial Sectors (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 68376.1 69501.3 71080.3 75183.2 81064.8 85061.9 82116.0 83497.7 83969.7 85061.9 85748.4 1

 2 U.S. official reserve assets 36.2 37.0 36.8 35.8 34.6 32.0 34.8 34.9 33.2 32.0 30.4 2

 3 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 Treasury currency 42.7 43.5 44.2 44.8 45.5 46.3 45.7 46.0 46.2 46.3 46.7 4

 5 Foreign deposits 97.1 105.9 42.9 43.3 33.7 24.1 19.4 26.7 23.2 24.1 24.4 5

 6 Net interbank assets 1126.4 1019.6 1622.6 1561.7 2321.8 2453.3 2508.6 2520.4 2602.0 2453.3 2504.4 6

 7 Checkable deposits and currency 348.2 327.1 364.2 374.2 370.6 351.5 343.0 359.0 383.6 351.5 340.9 7

 8 Time and savings deposits 716.8 641.5 593.6 621.1 697.2 709.0 703.2 709.6 736.2 709.0 714.2 8

 9 Money market fund shares 1003.2 830.6 765.2 684.2 631.7 649.6 611.5 577.1 585.9 649.6 650.1 9

 10 Federal funds and security repos 2345.8 2623.8 2741.6 3113.5 2738.5 2783.9 2713.9 2807.6 2740.3 2783.9 2765.2 10

 11 Credit market instruments 37149.3 36287.9 37277.3 38547.3 40257.1 42134.4 40576.7 41023.2 41513.4 42134.4 42292.7 11

 12 Open market paper 853.0 763.6 688.9 688.3 722.5 706.8 761.6 770.3 760.3 706.8 719.2 12

 13 Treasury securities 2582.5 3088.2 4054.2 4355.9 4887.4 5386.3 5040.6 5084.6 5254.8 5386.3 5439.8 13

 14 Agency- and GSE-backed securities 5898.5 5486.1 5652.3 5879.0 6299.0 6544.4 6340.4 6383.1 6442.2 6544.4 6503.8 14

 15 Municipal securities 1742.3 1786.5 1799.9 1939.1 1947.7 1997.9 1943.4 1947.0 1966.2 1997.9 2019.4 15

 16 Corporate and foreign bonds 6191.7 6286.2 6414.5 6898.8 7233.0 7623.5 7315.7 7453.7 7535.7 7623.5 7722.0 16

 17 Depository institution loans n.e.c. 2035.9 2001.2 2147.8 2322.7 2508.8 2816.7 2560.7 2652.4 2695.8 2816.7 2893.9 17

 18 Other loans and advances 1711.0 1394.8 1363.9 1468.3 1574.8 1695.9 1579.8 1617.6 1641.1 1695.9 1665.6 18

 19 Mortgages 13946.6 13313.9 13006.4 12803.3 12818.5 12983.2 12801.7 12828.8 12892.9 12983.2 12982.9 19

 20 Consumer credit 2187.8 2167.3 2149.4 2192.0 2265.4 2379.8 2232.9 2285.7 2324.4 2379.8 2346.0 20

 21 Corporate equities 9992.0 11463.5 10862.5 12397.0 15767.3 16848.4 16006.7 16673.4 16421.5 16848.4 17087.8 21

 22 Mutual fund shares 2427.3 2762.4 2653.2 2954.5 3679.2 3962.9 3743.2 3873.7 3856.1 3962.9 4014.3 22

 23 Trade receivables 144.2 135.6 134.8 133.2 131.0 132.1 134.4 137.8 134.4 132.1 137.4 23

 24 Security credit 235.0 316.4 308.1 374.9 420.8 463.1 406.9 462.9 480.2 463.1 448.2 24

 25 Life insurance reserves 132.8 141.1 153.0 172.9 183.7 194.6 186.3 189.1 191.6 194.6 197.0 25

 26 U.S. direct investment abroad 832.3 870.7 840.3 891.9 914.0 941.7 925.6 930.8 941.0 941.7 944.0 26

 27 Miscellaneous assets 11741.5 11889.5 12634.6 13227.8 12832.8 13329.8 13150.8 13120.4 13276.0 13329.8 13545.7 27

 28 Total liabilities 65354.6 66211.5 67743.5 71321.6 76698.4 80314.0 77674.1 78889.0 79332.0 80314.0 80917.7 28

 29 Net interbank liabilities 1215.5 1068.5 1889.0 1683.8 2812.9 2801.5 3025.0 3052.1 3123.8 2801.5 2864.1 29

 30 Checkable deposits and currency 2093.4 2359.8 2594.3 2853.8 3186.5 3537.5 3183.8 3295.7 3356.9 3537.5 3437.9 30

 31 Time and savings deposits 8432.5 8548.1 8952.2 9463.7 9872.9 10448.7 10075.7 10139.3 10264.8 10448.7 10684.4 31

 32 Money market fund shares 3258.6 2755.4 2642.5 2649.6 2678.5 2688.1 2592.5 2522.4 2565.4 2688.1 2609.9 32

 33 Federal funds and security repos 2720.8 2934.2 3114.0 3325.0 2935.5 2943.3 2949.5 3037.6 2907.5 2943.3 2947.1 33

 34 Credit market instruments 15715.6 14455.7 14036.3 13802.4 13949.2 14201.8 13856.4 13946.8 14051.9 14201.8 14104.6 34

 35 Open market paper 678.2 576.0 507.9 449.1 400.2 363.6 398.2 384.5 396.9 363.6 349.8 35

 36 Agency- and GSE-backed securities 8083.3 7574.0 7552.1 7529.7 7769.7 7920.2 7697.1 7750.6 7809.8 7920.2 7877.1 36

 37 Corporate and foreign bonds 5736.7 5282.9 4972.8 4870.3 4719.0 4760.6 4714.0 4738.7 4744.2 4760.6 4742.4 37

 38 Depository institution loans n.e.c. 424.2 373.6 400.8 342.3 363.2 365.4 360.8 333.1 345.5 365.4 368.2 38

 39 Other loans and advances 617.9 473.2 413.1 416.6 494.9 568.0 480.9 532.9 542.1 568.0 538.9 39

 40 Mortgages 175.3 176.1 189.5 194.4 202.2 223.8 205.3 206.9 213.3 223.8 228.1 40

 41 Mutual fund shares 6920.7 7873.0 7870.9 9326.1 11544.4 12603.6 11899.2 12374.8 12343.7 12603.6 12903.8 41

 42 Trade payables 70.1 18.1 14.3 14.2 14.5 17.9 14.8 17.8 19.9 17.9 19.2 42

 43 Security credit 733.7 763.5 795.4 828.2 897.1 962.5 952.5 954.1 982.4 962.5 964.4 43

 44 Life insurance reserves 1194.5 1229.9 1302.3 1309.0 1366.3 1426.1 1378.4 1395.2 1403.9 1426.1 1451.1 44

 45 Pension entitlements 15458.1 17035.7 17447.7 18460.8 19893.7 20783.7 20093.4 20402.1 20476.3 20783.7 20991.9 45

 46 Taxes payable -95.0 -88.9 -78.0 -76.8 -59.1 -43.2 -47.4 -40.5 -43.0 -43.2 -34.3 46

 47 Foreign direct investment in U.S. 407.0 489.6 561.9 578.9 559.3 576.5 563.9 567.8 571.4 576.5 580.8 47

 48 Miscellaneous liabilities 7229.2 6769.0 6600.7 7102.9 7046.7 7366.0 7136.4 7224.1 7307.2 7366.0 7392.8 48

 Memo:

 49 Market value of corporate equities 3578.1 4295.7 4069.7 4931.6 6466.5 7287.7 6594.3 6805.6 6811.6 7287.7 7397.0 49

 50 Equity in noncorporate business 14.8 15.9 11.9 17.3 17.6 19.6 18.4 18.4 19.0 19.6 20.2 50

(1) Sum of financial sectors shown on tables L.109 through L.131.
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L.109 Monetary Authority (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 2266.2 2451.7 2945.2 2955.0 4073.8 4555.4 4290.4 4429.7 4507.6 4555.4 4538.9 1

 2 U.S. official reserve assets 36.2 37.0 36.8 35.8 34.6 32.0 34.8 34.9 33.2 32.0 30.4 2

 3 SDR certificates 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 3

 4 Treasury currency 42.7 43.5 44.2 44.8 45.5 46.3 45.7 46.0 46.2 46.3 46.7 4

 5 Federal Reserve float (2) -2.1 -1.4 -0.6 -0.5 -1.0 -0.6 -0.5 -0.5 -0.9 -0.6 -0.7 5

 6 Interbank loans (2) 96.6 0.2 0.2 0.1 0.1 0.1 0.0 0.2 0.3 0.1 0.0 6

 7 Discount window (3) 96.6 0.2 0.2 0.1 0.1 0.1 0.0 0.2 0.3 0.1 0.0 7

 8 AMLF (4) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Credit market instruments 1987.7 2259.2 2635.6 2670.1 3756.3 4236.9 3970.1 4108.2 4188.2 4236.9 4228.4 10

 11 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Treasury securities 776.6 1021.5 1663.4 1666.1 2208.8 2461.4 2319.6 2400.6 2451.7 2461.4 2459.6 12

 13 Treasury bills 18.4 18.4 18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Other Treasury securities 758.2 1003.1 1645.0 1666.1 2208.8 2461.4 2319.6 2400.6 2451.7 2461.4 2459.6 14

 15 Agency- and GSE-backed securities 1068.3 1139.6 941.7 1003.4 1547.4 1775.5 1650.5 1707.6 1736.4 1775.5 1768.8 15

 16 Mortgage-backed securities 908.4 992.1 837.7 926.7 1490.2 1736.8 1603.1 1663.9 1696.4 1736.8 1731.9 16

 17 Other agency- and GSE-backed securities 159.9 147.5 104.0 76.8 57.2 38.7 47.3 43.7 40.0 38.7 36.9 17

 18 Depository institution loans n.e.c. 142.8 98.1 30.5 0.6 0.1 0.0 0.1 0.0 0.0 0.0 0.0 18

 19 Households (TALF) (5) 47.5 24.7 9.0 0.6 0.1 0.0 0.1 0.0 0.0 0.0 0.0 19

 20 Brokers and dealers (6) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 Funding corporations (Maiden Lane) (7) 29.2 25.8 4.9 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Funding corporations (AIG) 22.2 20.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Funding corporations (Maiden Lane II) (8) 16.0 13.5 6.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Funding corporations (Maiden Lane III)(9) 18.5 14.1 9.8 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Funding corporations (CPFF) (10) 9.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Rest of world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26

 27 Corporate equities (11) 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 27

 28 Miscellaneous assets 74.8 81.6 223.9 199.5 233.1 235.5 235.0 235.8 235.4 235.5 228.9 28

 29 Nonofficial foreign currencies (12) 10.3 0.1 99.8 8.9 0.3 1.5 0.4 0.1 0.2 1.5 0.8 29

 30 Other 64.6 81.5 124.0 190.6 232.8 233.9 234.6 235.6 235.2 233.9 228.1 30

 31 Total liabilities 2240.6 2425.1 2918.3 2927.6 4046.3 4526.8 4262.3 4401.5 4479.4 4526.8 4510.0 31

 32 Depository institution reserves 977.0 968.1 1562.3 1491.0 2249.1 2378.0 2444.3 2455.8 2537.8 2378.0 2437.3 32

 33 Vault cash of depository institutions 54.9 52.7 60.8 71.1 73.6 75.7 64.8 64.9 64.7 75.7 67.8 33

 34 Checkable deposits and currency 1102.7 1287.8 1165.7 1224.6 1364.1 1516.4 1364.4 1374.2 1416.4 1516.4 1417.7 34

 35 Due to federal government 191.9 340.9 85.9 92.9 162.6 223.7 142.5 139.4 158.5 223.7 100.3 35

 36 Treasury cash holdings 0.2 0.2 0.1 0.2 0.2 0.2 0.3 0.1 0.2 0.2 0.2 36

 37 Treasury general deposit account 186.6 140.8 85.7 92.7 162.4 223.5 142.2 139.3 158.3 223.5 100.1 37

 38 Treasury temporary supplementary financing account 5.0 200.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 38

 39 Due to rest of the world 2.4 3.4 0.2 6.5 8.0 5.3 7.0 6.0 5.3 5.3 5.2 39

 40 Due to government-sponsored enterprises 35.1 13.5 64.6 27.2 25.9 20.2 10.8 11.2 26.9 20.2 20.9 40

 41 Currency outside banks 873.3 930.0 1015.0 1098.1 1167.6 1267.3 1204.1 1217.6 1225.7 1267.3 1291.3 41

 42 Security repurchase agreements 77.7 59.7 99.9 107.2 315.9 509.8 341.0 456.5 410.1 509.8 536.9 42

 43 Reverse repurchase agreement operations (13) 0.0 0.0 0.0 0.0 197.8 396.7 242.1 339.5 300.0 396.7 378.5 43

 44 Other 77.7 59.7 99.9 107.2 118.2 113.1 99.0 117.0 110.1 113.1 158.4 44

 45 Miscellaneous liabilities 28.2 56.9 29.7 33.7 43.5 47.0 47.8 50.0 50.3 47.0 50.4 45

 46 Federal Reserve Bank stock 25.6 26.5 26.9 27.4 27.5 28.6 28.1 28.2 28.2 28.6 28.8 46

 47 Other 2.5 30.4 2.8 6.3 16.0 18.4 19.8 21.9 22.2 18.4 21.6 47

(1) Assets and liabilities of Federal Reserve Banks and Treasury monetary accounts that supply or absorb bank reserves. Excludes the accounts of the Federal Reserve Board.

(2) Shown on table L.203.

(3) Federal Reserve loans extended to domestic banks through term auction credit, primary credit, secondary credit, and seasonal credit.

(4) Federal Reserve loans extended to domestic banks through the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).

(5) Loans extended to financial institutions such as domestic hedge funds through the Term Asset-Backed Securities Loan Facility (TALF).

(6) Loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the AMLF.

(7) Loan extended by the Federal Reserve to Maiden Lane LLC to facilitate the arrangements associated with JPMorgan Chase & Co.’s acquisition of Bear Stearns Companies, Inc.

(8) Loan extended by the Federal Reserve to Maiden Lane II LLC to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of AIG subsidiaries.

(9) Loan extended by the Federal Reserve to Maiden Lane III LLC to purchase CDOs on which AIG has written credit default swap contracts.

(10) Loan extended by the Federal Reserve to Commercial Paper Funding Facility LLC.

(11) Preferred interests in AIA Aurora LLC and ALICO Holdings LLC, two limited liability companies created to hold all the outstanding common stock of American International Assurance

 Company Ltd (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(12) Reciprocal currency arrangements (swap lines) with foreign central banks.

(13) Reverse repurchase agreements (RRPs) conducted as part of the Federal Reserve’s Overnight RRP Operational Exercise (beginning 2013:Q3) and term RRP operations (beginning 2014:Q4).
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L.110 Private Depository Institutions (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 13554.2 13697.4 14580.2 14985.6 15920.5 16897.9 16229.3 16521.1 16763.4 16897.9 17138.8 1

 2 Vault cash 54.9 52.7 60.8 71.1 73.6 75.7 64.8 64.9 64.7 75.7 67.8 2

 3 Reserves at Federal Reserve 977.0 968.1 1562.3 1491.0 2249.1 2378.0 2444.3 2455.8 2537.8 2378.0 2437.3 3

 4 Federal funds and security repos 335.2 356.1 378.6 490.6 392.6 403.2 402.2 430.7 414.8 403.2 414.9 4

 5 Credit market instruments 10749.7 10968.9 11177.8 11605.9 11883.3 12655.8 11981.1 12222.2 12387.6 12655.8 12806.3 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 196.6 299.6 252.9 339.5 304.4 499.8 351.8 385.4 446.9 499.8 500.7 7

 8 Agency- and GSE-backed securities 1579.9 1718.1 1851.7 1901.3 1943.8 1970.0 1957.3 1959.7 1974.0 1970.0 2024.9 8

 9 Municipal securities 227.8 257.1 303.9 371.9 427.0 458.0 433.2 437.6 448.0 458.0 471.8 9

 10 Corporate and foreign bonds 940.0 795.9 800.2 786.3 770.2 734.2 756.7 757.4 733.5 734.2 729.7 10

 11 Depository institution loans n.e.c. 1893.1 1903.1 2117.3 2322.2 2508.7 2816.7 2560.6 2652.4 2695.8 2816.7 2893.9 11

 12 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Mortgages 4768.9 4583.0 4436.2 4422.4 4392.1 4531.1 4405.9 4462.2 4490.7 4531.1 4564.9 13

 14 Consumer credit 1143.4 1412.0 1415.6 1462.3 1537.1 1645.9 1515.7 1567.7 1598.7 1645.9 1620.3 14

 15 Corporate equities 63.6 73.6 67.4 71.3 101.3 108.5 102.6 109.2 105.4 108.5 109.0 15

 16 Mutual fund shares 47.4 46.5 43.5 48.1 60.1 61.8 63.0 66.8 61.9 61.8 61.4 16

 17 Security credit 32.0 38.2 69.2 71.1 81.6 93.5 86.3 87.5 90.0 93.5 93.9 17

 18 Life insurance reserves 111.5 116.0 125.5 138.0 143.8 149.6 145.2 146.7 147.9 149.6 150.9 18

 19 U.S. direct investment abroad 261.7 280.1 272.5 283.9 285.3 290.5 286.8 288.9 292.3 290.5 289.7 19

 20 Miscellaneous assets 921.1 797.2 822.8 714.5 649.9 681.2 652.9 648.4 661.0 681.2 707.6 20

 21 Total liabilities 13779.2 13946.6 14909.1 15513.4 16394.6 17431.7 16713.1 17024.5 17250.3 17431.7 17637.3 21

 22 Net interbank liabilities 183.5 47.8 266.0 121.7 490.2 347.9 515.9 531.3 521.3 347.9 359.0 22

 23 Checkable deposits 990.7 1072.0 1428.6 1629.2 1822.3 2021.2 1819.4 1921.5 1940.5 2021.2 2020.2 23

 24 Small time and savings deposits 6326.5 6624.9 7202.2 7803.9 8110.8 8475.8 8265.3 8290.7 8431.3 8475.8 8757.3 24

 25 Large time deposits 2105.9 1923.2 1750.0 1659.9 1762.0 1972.9 1810.4 1848.6 1833.5 1972.9 1927.1 25

 26 Federal funds and security repos 727.3 734.0 706.9 674.9 582.1 607.5 639.7 638.4 625.3 607.5 598.6 26

 27 Credit market instruments 744.6 909.0 856.5 745.4 713.9 757.3 689.8 734.9 736.5 757.3 704.8 27

 28 Open market paper 0.6 113.0 120.6 87.5 59.7 54.5 58.4 56.0 54.7 54.5 49.0 28

 29 Corporate bonds 176.3 377.1 379.4 295.9 221.0 209.0 214.2 211.7 208.7 209.0 194.6 29

 30 Other loans and advances 567.6 418.9 356.4 362.0 433.2 493.9 417.2 467.2 473.0 493.9 461.2 30

 31 Taxes payable (net) -66.2 -59.6 -49.1 -47.6 -47.4 -32.3 -39.7 -32.4 -35.3 -32.3 -27.5 31

 32 Foreign direct investment in U.S. 107.7 120.0 176.6 181.8 181.4 184.5 182.3 183.0 181.5 184.5 185.2 32

 33 Miscellaneous liabilities 2659.1 2575.3 2571.3 2744.2 2779.3 3097.0 2829.9 2908.6 3015.8 3097.0 3112.5 33

 34 Investment by holding companies 1599.5 1632.8 1709.0 1889.2 1937.2 2128.3 1978.7 2030.3 2058.9 2128.3 2106.8 34

 35 Investment by funding corporations 203.1 171.6 137.8 126.0 123.5 103.2 123.9 120.8 127.8 103.2 96.2 35

 36 Other 856.5 770.9 724.5 729.0 718.5 865.5 727.3 757.5 829.1 865.5 909.5 36

 Memo:

 37 Consumer leases not included above (2) 6.9 6.2 6.0 6.5 7.9 8.6 8.1 8.3 8.6 8.6 8.6 37

(1) U.S.-chartered depository institutions (L.111), foreign banking offices (L.112), banks in U.S.-affiliated areas (L.113), and credit unions (L.114).

(2) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
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L.111 U.S.-Chartered Depository Institutions

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 11440.9 11473.5 11839.5 12218.4 12795.4 13646.6 12891.5 13141.5 13365.9 13646.6 13868.0 1

 2 Vault cash 54.9 52.7 60.8 71.1 73.6 75.6 64.8 64.9 64.7 75.6 67.8 2

 3 Reserves at Federal Reserve 661.4 575.8 798.7 798.5 1252.9 1443.6 1311.3 1339.8 1411.1 1443.6 1505.4 3

 4 Federal funds and security repos 266.9 267.6 242.6 302.7 215.4 185.0 201.8 202.5 196.0 185.0 215.1 4

 5 Credit market instruments 9117.4 9356.2 9489.9 9866.3 10101.0 10762.9 10167.7 10378.4 10527.8 10762.9 10885.2 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 0.0 6

 7 Treasury securities 124.5 217.5 173.9 243.2 217.1 420.4 263.8 297.7 359.0 420.4 421.3 7

 8 Agency- and GSE-backed securities 1417.4 1527.2 1634.1 1669.6 1717.3 1760.3 1731.0 1735.9 1758.2 1760.3 1815.0 8

 9 Residential mortgage pass-through securities 837.5 835.3 899.1 912.8 953.5 979.7 959.1 961.9 975.2 979.7 1024.3 9

 10 Commercial mortgage pass-through securities 3.6 3.3 8.2 21.7 30.3 42.4 32.0 37.6 41.4 42.4 45.9 10

 11 Residential CMOs and other structured MBS 264.0 393.4 473.8 454.6 431.0 444.0 442.2 440.7 444.2 444.0 448.8 11

 12 Commercial CMOs and other structured MBS 4.0 3.6 13.4 42.9 66.8 81.4 70.0 72.7 76.5 81.4 83.6 12

 13 Other 308.4 291.5 239.6 237.7 235.7 212.7 227.7 223.1 220.9 212.7 212.3 13

 14 Municipal securities 224.3 254.6 297.3 365.0 418.9 451.5 425.2 429.9 440.4 451.5 465.1 14

 15 Corporate and foreign bonds 668.2 550.5 553.0 544.0 559.2 521.7 540.2 540.7 520.1 521.7 522.4 15

 16 Priv. residential mortgage pass-through securities 16.2 6.5 3.5 18.7 28.7 22.7 27.8 25.6 23.7 22.7 21.2 16

 17 Priv. commercial mortgage pass-through securities 17.8 11.4 8.9 9.3 8.0 5.6 6.4 6.9 5.8 5.6 5.1 17

 18 Priv. residential CMOs and other structured MBS 202.9 132.3 110.4 88.4 73.7 68.2 68.9 73.2 70.3 68.2 65.4 18

 19 Priv. commercial CMOs and other structured MBS 26.0 24.7 27.4 32.7 37.3 42.7 38.8 37.5 39.2 42.7 46.0 19

 20 Other 405.2 375.6 402.9 394.9 411.4 382.6 398.3 397.6 381.0 382.6 384.7 20

 21 Depository institution loans n.e.c. 1404.8 1425.9 1589.6 1797.1 1933.5 2175.1 1969.6 2050.8 2086.8 2175.1 2225.3 21

 22 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Mortgages 4371.9 4194.9 4049.6 4028.8 3983.5 4090.7 3991.3 4039.0 4057.9 4090.7 4123.9 23

 24 Consumer credit 906.3 1185.5 1192.6 1218.6 1271.6 1343.1 1246.5 1284.2 1305.4 1343.1 1312.1 24

 25 Corporate equities 63.6 73.6 67.4 71.3 101.3 108.5 102.6 109.2 105.4 108.5 109.0 25

 26 Mutual fund shares 46.1 45.0 41.7 45.8 57.9 59.7 60.8 64.7 59.8 59.7 59.4 26

 27 Security credit 20.4 23.6 35.8 45.0 52.9 61.1 58.4 61.0 60.3 61.1 61.5 27

 28 Life insurance reserves 111.5 116.0 125.5 138.0 143.8 149.6 145.2 146.7 147.9 149.6 150.9 28

 29 U.S. direct investment abroad 261.7 280.1 272.5 283.9 285.3 290.5 286.8 288.9 292.3 290.5 289.7 29

 30 Miscellaneous assets 837.1 683.0 704.8 595.9 511.3 510.1 492.2 485.6 500.6 510.1 524.0 30

 31 Total liabilities 11622.9 11709.0 12156.0 12719.7 13295.4 14272.6 13434.2 13703.8 13932.6 14272.6 14454.3 31

 32 Net interbank liabilities 633.7 428.3 164.9 36.7 227.8 275.5 213.2 221.1 323.2 275.5 300.4 32

 33 Federal Reserve float -2.1 -1.4 -0.6 -0.5 -1.0 -0.6 -0.5 -0.5 -0.9 -0.6 -0.7 33

 34 Borrowing from Federal Reserve banks 96.6 0.2 0.2 0.1 0.1 0.1 0.0 0.2 0.3 0.1 0.0 34

 35 To domestic banks 42.2 21.3 62.1 18.7 57.2 12.0 29.0 26.2 55.0 12.0 3.9 35

 36 To foreign banks 496.9 408.2 103.3 18.5 171.4 263.9 184.8 195.3 268.8 263.9 297.2 36

 37 Checkable deposits 871.6 941.1 1260.5 1431.7 1579.8 1716.1 1558.5 1649.1 1670.1 1716.1 1698.8 37

 38 Federal government 3.8 3.6 1.0 1.3 1.6 2.5 1.7 1.8 2.1 2.5 2.5 38

 39 Private domestic 833.5 907.0 1203.5 1378.5 1527.1 1660.2 1504.0 1591.1 1615.5 1660.2 1644.3 39

 40 Rest of the world 34.3 30.4 56.1 51.8 51.2 53.4 52.8 56.2 52.5 53.4 52.0 40

 41 Small time and savings deposits 5617.0 5888.6 6425.7 6979.2 7236.0 7579.8 7375.8 7397.2 7537.5 7579.8 7801.9 41

 42 Large time deposits 1029.9 896.1 882.9 803.0 826.9 929.3 815.4 847.4 745.9 929.3 925.2 42

 43 Federal funds and security repos 532.1 484.0 402.5 349.9 269.4 236.2 283.2 271.9 249.9 236.2 228.7 43

 44 Credit market instruments 718.1 882.9 832.4 720.3 686.9 721.9 662.4 705.0 703.3 721.9 669.9 44

 45 Open market paper 0.6 113.0 120.6 87.5 59.7 54.5 58.4 56.0 54.7 54.5 49.0 45

 46 Corporate bonds 176.3 377.1 379.4 295.9 221.0 209.0 214.2 211.7 208.7 209.0 194.6 46

 47 Other loans and advances 541.1 392.8 332.3 336.9 406.2 458.5 389.8 437.3 439.9 458.5 426.3 47

 48 Taxes payable (net) -66.2 -59.6 -49.1 -47.6 -47.4 -32.3 -39.7 -32.4 -35.3 -32.3 -27.5 48

 49 Miscellaneous liabilities 2286.8 2247.6 2236.1 2446.4 2516.2 2846.0 2565.3 2644.6 2738.0 2846.0 2857.0 49

 50 Investment by holding companies 1599.5 1632.8 1709.0 1889.2 1937.2 2128.3 1978.7 2030.3 2058.9 2128.3 2106.8 50

 51 Other 687.3 614.7 527.1 557.2 578.9 717.8 586.6 614.3 679.1 717.8 750.3 51

 Memo:

 52 Consumer leases not included above (1) 6.9 6.2 6.0 6.5 7.9 8.6 8.1 8.3 8.6 8.6 8.6 52

(1) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.
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L.112 Foreign Banking Offices in U.S. (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1218.1 1268.3 1736.4 1720.6 2037.1 2093.4 2215.9 2251.4 2265.3 2093.4 2082.2 1

 2 Vault cash 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 2

 3 Reserves at Federal Reserve 284.1 350.8 711.0 638.8 948.0 888.8 1071.0 1068.6 1087.8 888.8 872.3 3

 4 Federal funds and security repos 68.2 88.4 120.1 178.3 177.1 218.1 200.3 228.2 218.7 218.1 199.8 4

 5 Credit market instruments 809.7 785.2 827.7 833.5 826.3 882.6 845.6 856.1 854.9 882.6 901.8 5

 6 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 6

 7 Treasury securities 57.5 60.9 60.5 76.6 67.0 56.5 66.3 65.6 60.4 56.5 55.7 7

 8 Agency- and GSE-backed securities 31.3 26.5 30.6 32.1 25.4 20.5 22.5 20.9 20.5 20.5 19.3 8

 9 Municipal securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Corporate and foreign bonds 247.6 238.2 236.7 230.5 196.4 197.3 200.5 200.8 198.9 197.3 190.8 10

 11 Depository institution loans n.e.c. 435.5 424.2 467.1 463.4 507.2 570.8 524.0 534.6 539.7 570.8 598.6 11

 12 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Mortgages 37.8 35.4 32.8 30.9 30.3 37.6 32.2 34.2 35.5 37.6 37.4 13

 14 Corporate equities 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Security credit 11.6 14.7 33.5 26.2 28.7 32.5 28.0 26.5 29.6 32.5 32.4 15

 16 Miscellaneous assets 44.5 29.2 44.2 43.9 57.0 71.3 71.0 72.0 74.2 71.3 75.8 16

 17 Total liabilities 1319.1 1351.5 1851.1 1853.0 2111.7 2113.2 2260.8 2299.1 2293.8 2113.2 2108.9 17

 18 Net interbank liabilities -377.8 -347.1 157.5 155.6 330.6 140.5 372.0 381.2 265.0 140.5 127.6 18

 19 To foreign banks -411.0 -384.0 134.8 83.6 242.8 117.2 281.8 297.8 239.7 117.2 99.7 19

 20 To domestic banks 33.1 36.9 22.7 72.0 87.8 23.3 90.2 83.4 25.3 23.3 27.9 20

 21 Checkable deposits 16.1 21.9 45.6 61.8 92.6 137.8 101.7 114.2 114.2 137.8 144.2 21

 22 Small time and savings deposits 29.9 35.7 48.9 62.7 90.4 84.5 84.5 87.3 89.7 84.5 126.4 22

 23 Large time deposits 1024.2 977.7 814.6 798.4 869.5 971.8 927.8 934.4 1019.8 971.8 930.0 23

 24 Federal funds and security repos 195.2 250.0 304.4 325.0 312.7 371.3 356.5 366.5 375.4 371.3 369.9 24

 25 Open market paper (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25

 26 Foreign direct investment in U.S. 107.7 120.0 176.6 181.8 181.4 184.5 182.3 183.0 181.5 184.5 185.2 26

 27 Miscellaneous liabilities 323.8 293.3 303.4 267.8 234.6 222.8 236.0 232.6 248.4 222.8 225.7 27

 28 Investment by funding corporations 203.1 171.6 137.8 126.0 123.5 103.2 123.9 120.8 127.8 103.2 96.2 28

 29 Other 120.7 121.7 165.6 141.7 111.1 119.6 112.1 111.8 120.5 119.6 129.4 29

(1) Branches and agencies of foreign banks, Edge Act and Agreement corporations, New York investment companies (through 1996:Q2), and American Express Bank (through 2008:Q4).

(2) Bankers’ acceptances.
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L.113 Banks in U.S.-Affiliated Areas (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 94.7 79.9 75.8 75.8 84.7 91.9 81.5 83.9 81.0 91.9 85.8 1

 2 Credit market instruments 88.1 68.9 64.0 63.9 64.1 58.6 64.1 61.5 59.7 58.6 54.5 2

 3 Treasury securities 0.5 1.1 1.0 0.4 1.2 1.3 1.3 0.8 1.3 1.3 1.5 3

 4 Agency- and GSE-backed securities 20.5 12.8 4.8 2.6 1.9 1.7 1.8 1.8 1.8 1.7 1.5 4

 5 Municipal securities 3.5 2.5 3.4 2.6 3.6 2.7 3.4 2.7 2.6 2.7 2.7 5

 6 Corporate and foreign bonds 2.0 0.6 4.2 5.2 5.8 5.3 6.4 6.3 5.7 5.3 5.4 6

 7 Depository institution loans n.e.c. 19.4 16.1 17.1 18.1 19.4 17.1 19.2 18.1 17.4 17.1 15.6 7

 8 Home mortgages 22.6 20.1 17.8 20.0 18.9 17.4 18.4 18.3 17.6 17.4 16.5 8

 9 Commercial mortgages 19.6 15.7 15.6 14.9 13.5 13.0 13.6 13.5 13.3 13.0 11.3 9

 10 Miscellaneous assets 6.5 11.0 11.8 12.0 20.5 33.4 17.4 22.5 21.3 33.4 31.3 10

 11 Total liabilities 90.0 75.2 72.1 72.0 80.5 87.6 78.0 80.8 77.1 87.6 82.3 11

 12 Net interbank liabilities -4.2 -3.3 -4.6 -4.9 -4.7 -5.3 -5.5 -5.8 -5.2 -5.3 -5.7 12

 13 Checkable deposits 16.1 16.6 19.4 21.9 28.2 33.4 27.3 28.6 27.8 33.4 33.0 13

 14 Small time and savings deposits 24.5 19.3 18.9 18.8 21.4 23.4 20.7 21.4 20.9 23.4 21.6 14

 15 Large time deposits 24.5 19.3 18.9 18.8 21.4 23.4 20.7 21.4 20.9 23.4 21.6 15

 16 Miscellaneous liabilities 29.2 23.3 19.4 17.3 14.3 12.7 14.8 15.3 12.6 12.7 11.8 16

(1) Commercial banks and branches of U.S.-chartered depository institutions located in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, and other U.S.-affiliated insular areas.

L.114 Credit Unions

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

 1 Total financial assets 800.5 875.7 928.5 970.8 1003.3 1065.9 1040.4 1044.3 1051.2 1065.9 1102.9 1

 2 Reserves at Federal Reserve 31.5 41.5 52.6 53.8 48.1 45.7 62.0 47.5 39.0 45.7 59.6 2

 3 Federal funds and security repos 0.1 0.0 15.9 9.7 0.1 0.0 0.2 0.1 0.0 0.0 0.0 3

 4 Credit market instruments 734.6 758.6 796.2 842.3 891.8 951.7 903.8 926.3 945.2 951.7 964.8 4

 5 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Treasury securities 14.2 20.1 17.6 19.3 19.1 21.6 20.4 21.3 26.2 21.6 22.2 6

 7 Agency- and GSE-backed securities 110.7 151.5 182.1 197.0 199.2 187.5 202.0 201.0 193.6 187.5 189.2 7

 8 Municipal securities 0.0 0.0 3.2 4.2 4.6 3.8 4.5 4.9 5.0 3.8 3.9 8

 9 Corporate and foreign bonds 22.3 6.6 6.3 6.7 8.9 9.9 9.5 9.6 8.8 9.9 11.1 9

 10 Depository institution loans n.e.c. 33.4 36.9 43.5 43.6 48.7 53.7 47.9 48.9 51.9 53.7 54.3 10

 11 Home mortgages 316.9 317.0 320.5 327.8 345.9 372.5 350.4 357.2 366.5 372.5 375.8 11

 12 Consumer credit 237.1 226.5 223.0 243.6 265.6 302.8 269.2 283.5 293.3 302.8 308.2 12

 13 Mutual fund shares 1.3 1.5 1.9 2.3 2.2 2.1 2.2 2.1 2.1 2.1 2.0 13

 14 Miscellaneous assets 33.0 74.1 61.9 62.7 61.1 66.4 72.2 68.3 65.0 66.4 76.5 14

 15 Total liabilities 747.2 810.9 830.0 868.7 906.9 958.4 940.1 940.8 946.8 958.4 991.7 15

 16 Net interbank liabilities -68.1 -30.0 -51.9 -65.7 -63.5 -62.8 -63.8 -65.1 -61.7 -62.8 -63.2 16

 17 Shares/deposits 769.4 803.8 845.3 896.6 929.2 970.4 962.7 959.8 958.5 970.4 1002.0 17

 18 Checkable 86.9 92.4 103.1 113.9 121.7 133.9 131.9 129.6 128.4 133.9 144.3 18

 19 Small time and savings 655.2 681.3 708.7 743.1 763.1 788.1 784.3 784.8 783.3 788.1 807.4 19

 20 Large time 27.3 30.1 33.5 39.7 44.3 48.4 46.5 45.4 46.8 48.4 50.3 20

 21 Federal funds and security repos 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Other loans and advances 26.5 26.1 24.2 25.1 27.0 35.4 27.4 30.0 33.1 35.4 34.9 22

 23 Miscellaneous liabilities 19.4 11.1 12.4 12.7 14.2 15.4 13.8 16.1 16.9 15.4 18.0 23
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L.115 Property-Casualty Insurance Companies

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1380.2 1360.5 1380.0 1442.3 1539.5 1587.1 1545.4 1563.3 1577.1 1587.1 1586.3 1

 2 Checkable deposits and currency 27.6 32.6 24.1 36.4 29.7 35.6 33.4 34.8 35.7 35.6 35.4 2

 3 Money market fund shares 29.6 25.6 20.0 22.3 20.1 18.3 17.7 19.0 19.4 18.3 18.2 3

 4 Security repurchase agreements 4.5 3.8 1.7 1.8 1.8 1.8 1.6 1.7 1.8 1.8 1.7 4

 5 Credit market instruments 886.7 890.6 926.8 927.8 958.7 974.5 955.0 958.7 969.2 974.5 970.7 5

 6 Open market paper 9.8 7.9 8.8 7.4 8.1 7.9 7.2 7.9 8.2 7.9 7.9 6

 7 Treasury securities 88.5 91.7 96.4 89.7 96.1 102.0 94.7 98.1 101.2 102.0 101.6 7

 8 Agency- and GSE-backed securities 116.2 115.8 122.7 114.3 109.5 105.2 107.9 106.5 106.0 105.2 104.8 8

 9 Municipal securities 369.4 348.4 331.0 328.1 326.4 321.7 323.8 321.5 322.1 321.7 320.3 9

 10 Corporate and foreign bonds 298.3 322.6 363.1 382.7 410.8 427.7 413.2 415.9 422.4 427.7 425.8 10

 11 Commercial mortgages 4.4 4.1 4.9 5.6 7.9 9.9 8.3 8.8 9.3 9.9 10.4 11

 12 Corporate equities 215.6 214.8 220.8 252.2 310.4 325.4 312.8 318.6 319.1 325.4 320.3 12

 13 Mutual fund shares 9.5 10.2 9.1 11.8 14.8 16.8 15.3 16.0 16.2 16.8 17.5 13

 14 Trade receivables 83.0 83.8 87.2 92.0 95.2 100.8 100.1 103.9 103.4 100.8 106.1 14

 15 U.S. direct investment abroad 123.7 99.1 90.2 98.0 108.8 114.0 109.6 110.6 112.5 114.0 116.2 15

 16 Total liabilities 804.3 823.2 856.1 880.5 898.2 916.8 900.7 908.1 918.0 916.8 917.0 16

 17 Security repurchase agreements 0.6 1.5 0.4 0.8 2.2 3.2 2.5 2.8 3.0 3.2 3.3 17

 18 Taxes payable (net) -15.8 -10.1 -14.5 -10.8 8.4 10.3 10.2 9.5 10.2 10.3 10.6 18

 19 Foreign direct investment in U.S. 64.7 70.7 73.9 77.1 74.5 75.5 74.0 73.2 75.5 75.5 77.9 19

 20 Miscellaneous liabilities 754.8 761.2 796.4 813.4 813.1 827.8 814.0 822.6 829.3 827.8 825.0 20

 21 Investment by parent companies 0.0 0.0 0.0 11.2 5.2 5.3 4.7 5.1 5.1 5.3 3.9 21

 22 Policy payables 754.8 761.2 796.4 802.1 807.8 822.5 809.3 817.4 824.2 822.5 821.1 22
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L.116 Life Insurance Companies (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 4823.9 5167.8 5340.1 5614.7 5977.3 6227.1 6049.2 6144.7 6144.5 6227.1 6316.8 1

 2 Checkable deposits and currency 50.7 51.7 53.7 56.4 47.2 50.8 50.7 49.2 52.9 50.8 50.3 2

 3 Money market fund shares 33.7 21.0 28.8 27.5 21.6 27.7 21.3 21.0 22.6 27.7 26.6 3

 4 Security repurchase agreements 10.2 10.9 10.1 8.5 8.5 8.5 7.9 7.3 7.4 8.5 7.1 4

 5 Credit market instruments 3022.6 3174.2 3299.6 3373.9 3451.3 3551.0 3477.1 3511.5 3536.5 3551.0 3582.6 5

 6 Open market paper 49.8 40.9 29.7 43.6 46.7 42.2 43.6 41.0 40.3 42.2 43.2 6

 7 Treasury securities 133.5 156.6 175.4 180.9 168.6 182.9 172.0 175.5 178.9 182.9 193.3 7

 8 Agency- and GSE-backed securities 371.9 376.0 374.4 360.9 354.1 339.1 351.0 348.4 344.5 339.1 338.6 8

 9 Municipal securities 73.1 112.3 121.8 131.5 141.6 147.8 142.9 145.3 147.0 147.8 148.1 9

 10 Corporate and foreign bonds 1927.2 2030.2 2117.3 2162.2 2223.0 2292.3 2246.2 2273.7 2289.5 2292.3 2308.6 10

 11 Other loans and advances 140.9 140.7 148.6 150.4 153.9 161.9 155.9 157.3 159.9 161.9 161.0 11

 12 Mortgages 326.1 317.5 332.5 344.4 363.2 384.8 365.4 370.3 376.4 384.8 389.7 12

 13 Corporate equities 1208.5 1371.6 1355.5 1502.7 1743.4 1798.4 1764.5 1808.7 1770.3 1798.4 1828.9 13

 14 Mutual fund shares 140.8 186.7 184.8 201.7 235.8 246.4 238.6 245.1 242.5 246.4 248.7 14

 15 U.S. direct investment abroad 28.9 46.3 54.2 67.0 65.5 67.0 65.4 64.9 66.1 67.0 69.1 15

 16 Miscellaneous assets 328.7 305.6 353.4 377.0 404.1 477.2 423.8 437.0 446.2 477.2 503.6 16

 17 Equity in FHLB 2.9 2.9 2.1 2.2 3.2 3.5 3.2 3.4 3.5 3.5 3.7 17

 18 Deferred and unpaid life ins. premiums 22.1 24.7 24.3 24.9 27.9 29.1 28.9 30.2 29.6 29.1 30.2 18

 19 Other 303.7 278.0 327.0 349.9 373.1 444.6 391.7 403.4 413.1 444.6 469.6 19

 20 Total liabilities 4532.3 4844.3 5002.2 5248.8 5602.8 5828.1 5666.4 5753.5 5746.4 5828.1 5913.9 20

 21 Security repurchase agreements 12.4 10.3 10.4 13.5 12.7 13.8 12.9 12.8 13.3 13.8 14.6 21

 22 Other loans and advances 48.3 45.1 46.8 51.6 59.4 71.8 61.3 63.3 66.8 71.8 75.4 22

 23 Life insurance reserves 1194.5 1229.9 1302.3 1309.0 1366.3 1426.1 1378.4 1395.2 1403.9 1426.1 1451.1 23

 24 Pension entitlements (2) 2146.8 2341.3 2383.2 2575.3 2831.3 2925.4 2855.4 2891.7 2879.8 2925.4 2954.6 24

 25 Taxes payable (net) -31.4 -28.8 -23.6 -28.3 -30.5 -32.4 -29.3 -29.5 -30.4 -32.4 -29.9 25

 26 Foreign direct investment in U.S. 69.4 84.3 103.6 106.0 97.7 106.6 99.1 101.4 105.3 106.6 109.7 26

 27 Miscellaneous liabilities 1092.2 1162.2 1179.5 1221.6 1266.0 1316.9 1288.5 1318.6 1307.7 1316.9 1338.4 27

 28 Investment by parent companies 40.5 62.7 72.0 17.2 10.7 11.5 11.0 11.5 11.5 11.5 11.8 28

 29 Other reserves (3) 273.6 290.7 305.5 303.7 304.2 310.0 307.9 311.1 311.5 310.0 313.5 29

 30 Unallocated insurance contracts 589.0 620.9 624.7 638.6 668.1 699.6 676.5 689.6 688.2 699.6 707.7 30

 31 Other 189.1 187.9 177.2 262.1 283.1 295.7 293.1 306.3 296.5 295.7 305.5 31

(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 30.

(3) Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
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L.116.g Life Insurance Companies: General Accounts

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3208.3 3335.5 3512.5 3570.3 3657.0 3812.9 3708.5 3734.6 3770.0 3812.9 3792.0 1

 2 Checkable deposits and currency 34.4 32.4 35.3 36.7 31.9 35.4 35.4 33.8 37.6 35.4 34.4 2

 3 Money market fund shares 33.7 21.0 28.8 27.5 21.6 27.7 21.3 21.0 22.6 27.7 26.6 3

 4 Security repurchase agreements 10.2 10.9 10.1 8.5 8.5 8.5 7.9 7.3 7.4 8.5 7.1 4

 5 Credit market instruments 2775.3 2887.0 3009.3 3047.3 3117.3 3216.5 3143.2 3177.7 3202.7 3216.5 3194.8 5

 6 Open market paper 33.2 21.2 8.6 24.5 25.9 19.8 22.4 19.4 18.4 19.8 20.1 6

 7 Treasury securities 113.7 128.9 139.2 140.5 129.2 138.3 131.3 133.6 135.8 138.3 139.8 7

 8 Agency- and GSE-backed securities 289.2 283.5 282.0 277.1 270.5 267.2 270.4 270.8 269.8 267.2 263.3 8

 9 Municipal securities 68.8 108.3 117.5 126.6 135.7 141.0 136.8 139.0 140.4 141.0 140.3 9

 10 Corporate and foreign bonds 1814.3 1897.7 1991.0 1992.6 2049.6 2115.6 2072.0 2098.7 2113.7 2115.6 2105.7 10

 11 Other loans and advances 140.4 140.2 148.1 150.0 153.6 161.5 155.6 156.9 159.5 161.5 155.9 11

 12 Mortgages 315.7 307.1 322.9 336.0 352.8 373.0 354.7 359.3 365.0 373.0 369.8 12

 13 Corporate equities 70.3 74.3 75.3 74.0 76.5 82.1 79.1 83.3 83.0 82.1 82.4 13

 14 Mutual fund shares 2.4 2.6 3.1 3.4 3.7 3.9 3.7 3.8 3.8 3.9 3.9 14

 15 U.S. direct investment abroad 28.9 46.3 54.2 67.0 65.5 67.0 65.4 64.9 66.1 67.0 69.1 15

 16 Miscellaneous assets 253.2 261.2 296.3 305.9 332.0 371.8 352.5 342.8 346.9 371.8 373.7 16

 17 Total liabilities 2911.6 3007.6 3170.3 3198.0 3275.9 3406.8 3318.8 3336.5 3364.9 3406.8 3382.0 17

 18 Security repurchase agreements 12.4 10.3 10.4 13.5 12.7 13.8 12.9 12.8 13.3 13.8 14.6 18

 19 Other loans and advances 48.3 45.1 46.8 51.6 59.4 71.8 61.3 63.3 66.8 71.8 75.4 19

 20 Life insurance reserves 969.5 1001.5 1074.5 1068.3 1096.6 1142.7 1104.7 1115.4 1126.8 1142.7 1128.2 20

 21 Pension entitlements (1) 991.1 1012.1 1048.5 1058.3 1095.2 1132.8 1099.5 1105.7 1119.7 1132.8 1108.0 21

 22 Taxes payable (net) -31.4 -28.8 -23.6 -28.3 -30.5 -32.4 -29.3 -29.5 -30.4 -32.4 -29.9 22

 23 Foreign direct investment in U.S. 69.4 84.3 103.6 106.0 97.7 106.6 99.1 101.4 105.3 106.6 109.7 23

 24 Miscellaneous liabilities 852.3 883.2 910.1 928.6 944.9 971.6 970.5 967.4 963.4 971.6 976.0 24

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 24).

L.116.s Life Insurance Companies: Separate Accounts

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

 1 Total financial assets 1615.6 1832.4 1827.6 2044.4 2320.3 2414.2 2340.8 2410.1 2374.5 2414.2 2524.8 1

 2 Checkable deposits and currency 16.3 19.3 18.4 19.7 15.3 15.4 15.3 15.3 15.4 15.4 15.9 2

 3 Credit market instruments 247.4 287.3 290.2 326.6 333.9 334.5 333.9 333.8 333.8 334.5 387.8 3

 4 Open market paper 16.6 19.7 21.1 19.1 20.9 22.3 21.2 21.6 22.0 22.3 23.1 4

 5 Treasury securities 19.8 27.7 36.2 40.4 39.5 44.6 40.7 41.9 43.1 44.6 53.5 5

 6 Agency- and GSE-backed securities 82.8 92.4 92.4 83.8 83.6 71.9 80.6 77.6 74.7 71.9 75.3 6

 7 Municipal securities 4.3 4.0 4.3 4.9 5.9 6.8 6.1 6.3 6.5 6.8 7.8 7

 8 Corporate and foreign bonds 112.9 132.5 126.2 169.6 173.4 176.7 174.2 175.0 175.8 176.7 202.9 8

 9 Other loans and advances 0.6 0.5 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 5.2 9

 10 Mortgages 10.4 10.3 9.6 8.5 10.4 11.8 10.7 11.0 11.4 11.8 19.9 10

 11 Corporate equities 1138.1 1297.2 1280.2 1428.6 1666.9 1716.4 1685.4 1725.4 1687.3 1716.4 1746.5 11

 12 Mutual fund shares 138.4 184.1 181.7 198.3 232.1 242.6 234.9 241.2 238.7 242.6 244.8 12

 13 Miscellaneous assets 75.5 44.5 57.2 71.1 72.1 105.4 71.3 94.2 99.3 105.4 129.9 13

 14 Total liabilities 1620.7 1836.6 1831.9 2050.8 2327.0 2421.3 2347.6 2417.0 2381.5 2421.3 2531.9 14

 15 Life insurance reserves 225.0 228.4 227.8 240.7 269.7 283.4 273.7 279.8 277.1 283.4 322.9 15

 16 Pension entitlements (1) 1155.7 1329.2 1334.7 1517.1 1736.1 1792.6 1755.9 1786.0 1760.1 1792.6 1846.6 16

 17 Miscellaneous liabilities 239.9 279.0 269.4 292.9 321.2 345.3 318.0 351.2 344.3 345.3 362.4 17

(1) Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds, which are included in miscellaneous liabilities (line 17).
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L.117 Private and Public Pension Funds (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (2) 13170.2 14551.3 14917.2 15725.5 16888.6 17678.5 17063.4 17329.5 17418.7 17678.5 17855.5 1

 2 Checkable deposits and currency 14.0 16.6 22.6 21.0 21.1 22.7 21.3 22.9 22.9 22.7 23.2 2

 3 Time and savings deposits 62.3 67.0 70.2 63.4 65.0 67.6 65.1 65.6 65.3 67.6 69.4 3

 4 Money market fund shares 187.9 179.9 196.9 176.4 181.1 182.8 179.0 181.9 179.2 182.8 181.8 4

 5 Security repurchase agreements 5.9 6.0 6.1 5.6 5.7 6.0 5.7 5.7 5.7 6.0 6.2 5

 6 Credit market instruments 1679.2 1833.0 1939.6 2104.9 2244.5 2329.5 2248.5 2279.5 2316.8 2329.5 2283.8 6

 7 Open market paper 79.6 82.1 86.0 77.8 76.7 80.3 78.0 78.2 78.5 80.3 83.8 7

 8 Treasury securities 457.4 509.4 569.1 638.5 699.9 746.3 707.5 715.2 729.3 746.3 706.4 8

 9 Agency- and GSE-backed securities 351.4 359.4 375.4 410.6 431.1 424.8 428.5 434.8 435.7 424.8 413.6 9

 10 Corporate and foreign bonds 753.2 841.4 874.1 942.8 1004.6 1046.5 1003.2 1019.0 1040.2 1046.5 1049.5 10

 11 Mortgages 36.0 38.4 33.3 33.4 29.3 29.6 29.0 30.1 31.1 29.6 28.5 11

 12 Corporate equities 3436.4 3920.1 3728.9 4140.8 5046.6 5241.9 5076.4 5224.6 5141.4 5241.9 5273.6 12

 13 Mutual fund shares 2229.6 2519.0 2415.8 2692.9 3368.5 3637.8 3426.4 3545.8 3535.5 3637.8 3686.7 13

 14 Miscellaneous assets 5555.1 6009.6 6537.2 6520.6 5956.1 6190.3 6041.0 6003.5 6151.8 6190.3 6331.0 14

 15 Unallocated insurance contracts (3) 589.0 620.9 624.7 638.6 668.1 699.6 676.5 689.6 688.2 699.6 707.7 15

 16 Contributions receivable 75.4 90.8 93.8 81.4 80.9 81.7 80.7 81.1 82.0 81.7 83.4 16

 17 Nonmarketable Treasury securities (4) 1077.2 1142.9 1213.7 1254.1 1352.3 1421.1 1339.7 1342.6 1361.8 1421.1 1372.3 17

 18 Claims of pension fund on sponsor (5) 3212.0 3523.7 3928.9 3839.1 3116.3 3196.1 3187.1 3114.0 3233.3 3196.1 3369.7 18

 19 Other 601.4 631.3 676.1 707.4 738.6 791.7 757.0 776.2 786.4 791.7 797.8 19

 20 Pension entitlements (liabilities) (6) 13311.3 14694.3 15064.5 15885.5 17062.5 17858.3 17238.0 17510.4 17596.5 17858.3 18037.3 20

 Memo:

 Funded status of defined benefit plans:

 21 Pension entitlements 9315.4 10175.7 10568.6 10886.7 11129.6 11458.1 11211.5 11293.9 11375.6 11458.1 11539.9 21

 22 Funded by assets (7) 6103.4 6652.0 6639.7 7047.6 8013.3 8262.0 8024.4 8179.9 8142.3 8262.0 8231.1 22

 23 Unfunded (line 18) 3212.0 3523.7 3928.9 3839.1 3116.3 3196.1 3187.1 3114.0 3233.3 3196.1 3308.8 23

 24 Household retirement assets (8) 19397.0 21481.6 22091.4 23723.9 26160.9 27490.9 26472.7 27008.2 27106.5 27490.9 ND 24

 25 Defined benefit plans 9174.4 10032.7 10421.3 10726.7 10955.7 11278.3 11036.9 11112.9 11197.8 11278.3 11358.2 25

 26 Defined contribution plans 3995.9 4518.6 4495.9 4998.8 5932.8 6400.2 6026.5 6216.6 6220.9 6400.2 6497.3 26

 27 Individual retirement plans (IRAs) (9) 4488.0 5029.0 5241.0 5907.0 6966.0 7443.0 7084.0 7325.0 7343.0 7443.0 ND 27

 28 Annuities at life insurance companies (10) 1738.8 1901.3 1933.2 2091.3 2306.3 2369.4 2325.4 2353.7 2344.8 2369.4 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) Assets of pension plans held at life insurance companies; series begins 1985:Q4.

(4) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(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 item on table L.226 for a sectoral distribution of IRA accounts.

(10) Annuities held in IRAs at life insurance companies are excluded. They are included in line 27.
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L.118 Private Pension Funds (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (2) 5965.4 6613.5 6716.8 7241.5 8111.8 8541.8 8200.7 8372.6 8381.2 8541.8 8629.5 1

 2 Checkable deposits and currency 10.3 12.5 18.1 16.4 16.5 17.7 16.8 17.6 17.7 17.7 18.1 2

 3 Time and savings deposits 32.1 31.4 33.0 29.1 28.8 29.8 29.3 30.0 29.7 29.8 30.5 3

 4 Money market fund shares 146.6 136.4 152.9 135.7 137.9 137.3 136.4 139.3 137.2 137.3 135.5 4

 5 Security repurchase agreements 2.9 2.7 2.7 2.4 2.3 2.4 2.4 2.4 2.4 2.4 2.5 5

 6 Credit market instruments 775.4 895.9 969.5 1116.2 1166.8 1199.9 1164.8 1184.5 1195.9 1199.9 1212.7 6

 7 Open market paper 42.2 40.2 42.6 37.7 34.4 36.2 35.5 36.2 36.1 36.2 37.7 7

 8 Treasury securities 175.6 206.9 233.8 278.2 314.6 334.2 318.4 323.0 329.4 334.2 344.9 8

 9 Agency- and GSE-backed securities 177.5 184.0 188.2 210.4 225.8 224.7 224.4 228.5 226.8 224.7 223.6 9

 10 Corporate and foreign bonds 356.4 438.5 483.0 566.8 572.3 585.3 567.6 577.0 582.8 585.3 587.9 10

 11 Mortgages 23.7 26.5 21.9 23.1 19.7 19.5 18.9 19.8 20.8 19.5 18.7 11

 12 Corporate equities 1568.3 1849.1 1751.1 1973.6 2407.9 2587.0 2448.7 2532.2 2507.9 2587.0 2615.1 12

 13 Mutual fund shares 1887.6 2148.9 2120.5 2385.6 2974.8 3231.7 3030.6 3141.2 3137.8 3231.7 3278.7 13

 14 Miscellaneous assets 1542.2 1536.6 1668.9 1582.5 1376.7 1336.0 1371.8 1325.3 1352.7 1336.0 1336.3 14

 15 Unallocated insurance contracts (3) 453.5 469.4 484.6 503.8 537.1 563.0 544.3 553.8 553.7 563.0 569.1 15

 16 Contributions receivable 75.4 90.8 93.8 81.4 80.9 81.7 80.7 81.1 82.0 81.7 83.4 16

 17 Claims of pension fund on sponsor (4) 497.6 446.5 517.2 389.8 131.4 19.4 103.8 31.7 49.7 19.4 4.0 17

 18 Other 515.7 529.9 573.3 607.4 627.4 671.8 643.0 658.7 667.3 671.8 679.9 18

 19 Pension entitlements (liabilities) (5) 6001.8 6650.1 6753.3 7278.0 8148.3 8578.4 8237.2 8409.2 8417.8 8578.4 8666.0 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 2662.7 2872.2 2983.7 3054.3 3105.0 3135.8 3112.7 3120.4 3128.1 3135.8 3143.5 20

 21 Funded by assets (6) 2165.1 2425.7 2466.4 2664.5 2973.6 3116.5 3008.9 3088.8 3078.4 3116.5 3139.6 21

 22 Unfunded (line 17) 497.6 446.5 517.2 389.8 131.4 19.4 103.8 31.7 49.7 19.4 4.0 22

 Total financial assets (7)

 23 Defined benefit plans 2626.3 2835.7 2947.1 3017.8 3068.5 3099.3 3076.2 3083.9 3091.6 3099.3 3107.0 23

 24 Defined contribution plans 3339.1 3777.8 3769.7 4223.7 5043.3 5442.5 5124.5 5288.8 5289.6 5442.5 5522.5 24

(1) Private defined benefit plans and defined contribution plans (including 401(k) type plans).

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans and assets of defined contribution plans. These liabilities are assets of the household sector.

(6) Total defined benefit financial assets plus nonfinancial assets less claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on tables L.118.b and L.118.c.
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L.118.b Private Pension Funds: Defined Benefit Plans

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (1) 2626.3 2835.7 2947.1 3017.8 3068.5 3099.3 3076.2 3083.9 3091.6 3099.3 3107.0 1

 2 Checkable deposits and currency 5.0 7.7 9.5 8.4 8.2 8.6 8.4 8.6 8.5 8.6 8.9 2

 3 Time and savings deposits 27.7 27.5 28.7 25.4 24.7 25.5 25.1 25.8 25.5 25.5 26.2 3

 4 Money market fund shares 39.8 34.7 34.3 30.3 29.6 29.4 29.4 30.2 29.9 29.4 28.9 4

 5 Security repurchase agreements 2.9 2.7 2.7 2.4 2.3 2.4 2.4 2.4 2.4 2.4 2.5 5

 6 Credit market instruments 543.5 615.1 693.2 777.0 812.2 832.9 811.3 827.7 832.5 832.9 841.3 6

 7 Open market paper 31.2 30.2 31.3 27.6 23.8 25.1 24.4 25.0 24.7 25.1 25.8 7

 8 Treasury securities 112.1 119.4 138.8 154.7 179.5 191.4 182.0 185.6 189.8 191.4 197.9 8

 9 Agency- and GSE-backed securities 116.3 119.0 133.3 144.3 154.1 154.8 153.8 156.9 155.9 154.8 154.6 9

 10 Corporate and foreign bonds 266.9 328.3 374.1 434.7 441.6 448.5 438.3 446.7 448.2 448.5 450.2 10

 11 Mortgages 17.0 18.2 15.8 15.7 13.3 13.1 12.8 13.4 14.0 13.1 12.7 11

 12 Corporate equities 863.8 1010.7 929.5 1048.0 1247.0 1326.3 1267.6 1306.3 1293.3 1326.3 1334.5 12

 13 Mutual fund shares 322.9 349.8 356.6 359.3 427.5 448.9 434.6 446.5 442.0 448.9 450.8 13

 14 Miscellaneous assets 820.6 787.5 892.6 767.0 517.0 425.4 497.5 436.3 457.6 425.4 413.9 14

 15 Unallocated insurance contracts (2) 57.8 53.0 64.5 58.2 63.4 67.1 64.0 66.1 66.5 67.1 68.0 15

 16 Contributions receivable 49.8 63.1 64.8 52.4 51.6 51.4 51.6 52.1 52.0 51.4 52.6 16

 17 Claims of pension fund on sponsor (3) 497.6 446.5 517.2 389.8 131.4 19.4 103.8 31.7 49.7 19.4 4.0 17

 18 Other 215.5 224.8 246.0 266.6 270.6 287.6 278.1 286.5 289.5 287.6 289.4 18

 19 Pension entitlements (liabilities) (4) 2662.7 2872.2 2983.7 3054.3 3105.0 3135.8 3112.7 3120.4 3128.1 3135.8 3143.5 19

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.

(3) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(4) Actuarial value of accrued defined benefit pension entitlements.

L.118.c Private Pension Funds: Defined Contribution Plans (1)

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

 1 Total financial assets 3339.1 3777.8 3769.7 4223.7 5043.3 5442.5 5124.5 5288.8 5289.6 5442.5 5522.5 1

 2 Checkable deposits and currency 5.3 4.8 8.6 7.9 8.3 9.1 8.4 9.0 9.2 9.1 9.2 2

 3 Time and savings deposits 4.3 3.9 4.3 3.7 4.1 4.3 4.1 4.2 4.2 4.3 4.3 3

 4 Money market fund shares 106.8 101.7 118.5 105.4 108.3 107.9 107.0 109.0 107.3 107.9 106.6 4

 5 Security repurchase agreements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Credit market instruments 231.9 280.8 276.4 339.2 354.6 367.1 353.5 356.8 363.4 367.1 371.5 6

 7 Open market paper 11.0 10.0 11.3 10.1 10.6 11.2 11.1 11.1 11.4 11.2 11.9 7

 8 Treasury securities 63.5 87.4 95.1 123.5 135.2 142.9 136.4 137.4 139.6 142.9 146.9 8

 9 Agency- and GSE-backed securities 61.2 65.0 54.9 66.1 71.7 69.9 70.6 71.6 71.0 69.9 69.0 9

 10 Corporate and foreign bonds 89.5 110.2 108.9 132.1 130.7 136.8 129.2 130.3 134.6 136.8 137.7 10

 11 Mortgages 6.7 8.3 6.1 7.4 6.4 6.4 6.1 6.4 6.9 6.4 5.9 11

 12 Corporate equities 704.4 838.4 821.6 925.7 1160.9 1260.8 1181.1 1225.9 1214.6 1260.8 1280.6 12

 13 Mutual fund shares 1564.7 1799.1 1763.9 2026.3 2547.3 2782.8 2596.0 2694.8 2695.8 2782.8 2828.0 13

 14 Miscellaneous assets 721.6 749.1 776.3 815.5 859.7 910.6 874.3 889.1 895.1 910.6 922.4 14

 15 Unallocated insurance contracts (2) 395.8 416.4 420.1 445.7 473.7 495.9 480.3 487.8 487.3 495.9 501.1 15

 16 Contributions receivable 25.6 27.7 29.0 29.0 29.3 30.4 29.1 29.0 30.1 30.4 30.8 16

 17 Other 300.2 305.1 327.3 340.8 356.8 384.3 365.0 372.3 377.8 384.3 390.5 17

 18 Pension entitlements (liabilities) 3339.1 3777.8 3769.7 4223.7 5043.3 5442.5 5124.5 5288.8 5289.6 5442.5 5522.5 18

(1) Includes 401(k) and 403(b) type plans.

(2) Assets of private pension plans held at life insurance companies; series begins 1985:Q4.
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L.119 Federal Government Employee Retirement Funds

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (1) 2922.5 3159.3 3266.0 3384.9 3542.8 3683.4 3573.6 3609.6 3641.4 3683.4 3716.2 1

 2 Credit market instruments 130.9 141.8 167.3 182.7 192.1 209.0 193.6 196.0 201.1 209.0 149.9 2

 3 Treasury securities (2) 119.9 130.0 153.5 165.6 178.0 196.1 181.0 183.1 188.4 196.1 136.6 3

 4 Agency- and GSE-backed securities 5.2 5.8 6.5 8.1 6.4 6.0 5.7 5.8 5.8 6.0 6.0 4

 5 Corporate and foreign bonds 5.7 5.9 7.3 9.0 7.7 7.0 6.9 7.0 6.9 7.0 7.3 5

 6 Corporate equities 116.8 140.9 134.4 148.1 206.2 235.2 211.8 221.8 224.8 235.2 242.6 6

 7 Miscellaneous assets 2674.8 2876.6 2964.3 3054.1 3144.5 3239.2 3168.1 3191.8 3215.5 3239.2 3323.7 7

 8 Nonmarketable Treasury securities (3) 1077.2 1142.9 1213.7 1254.1 1352.3 1421.1 1339.7 1342.6 1361.8 1421.1 1372.3 8

 9 Claims of pension fund on sponsor (4) 1597.6 1733.7 1750.7 1800.0 1792.1 1818.0 1828.4 1849.3 1853.7 1818.0 1951.5 9

 10 Pension entitlements (liabilities) (5) 2922.5 3159.3 3266.0 3384.9 3542.8 3683.4 3573.6 3609.6 3641.4 3683.4 3716.2 10

 Memo:

 Funded status of defined benefit plans:

 11 Pension entitlements 2692.9 2894.8 2980.8 3070.0 3161.7 3256.1 3185.1 3208.9 3232.1 3256.1 3279.4 11

 12 Funded by assets (6) 1095.4 1161.1 1230.2 1270.0 1369.6 1438.0 1356.7 1359.7 1378.4 1438.0 1388.9 12

 13 Unfunded 1597.6 1733.7 1750.7 1800.0 1792.1 1818.0 1828.4 1849.3 1853.7 1818.0 1890.5 13

 Total financial assets (7)

 14 Defined benefit plans 2692.9 2894.8 2980.8 3070.0 3161.7 3256.1 3185.1 3208.9 3232.1 3256.1 3279.4 14

 15 Defined contribution plans 229.6 264.5 285.2 314.9 381.0 427.3 388.5 400.7 409.3 427.3 436.8 15

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Includes nonmarketable Treasury securities held by the Thrift Savings Plan.

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements and suspended investments in the Thrift Savings Plan G Fund by the Treasury. Negative values indicate overfunding.

(5) 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.

(6) Total defined benefit financial assets less defined benefit claims of pension fund on sponsor.

(7) Additional detail on defined benefit plans and defined contribution plans is available on tables L.119.b and L.119.c.
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L.119.b Federal Government Employee Retirement Funds: Defined Benefit Plans (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (2) 2692.9 2894.8 2980.8 3070.0 3161.7 3256.1 3185.1 3208.9 3232.1 3256.1 3279.4 1

 2 Credit market instruments 6.6 5.8 6.1 6.1 6.1 5.6 5.9 5.8 5.7 5.6 5.6 2

 3 Treasury securities 2.3 2.1 1.7 1.5 1.4 1.3 1.4 1.4 1.3 1.3 1.3 3

 4 Agency- and GSE-backed securities 1.1 0.9 0.7 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.3 4

 5 Corporate and foreign bonds 3.2 2.9 3.7 4.1 4.1 3.8 4.0 4.0 3.9 3.8 3.9 5

 6 Corporate equities 11.6 12.4 10.4 9.8 11.2 11.3 11.0 11.3 11.0 11.3 11.0 6

 7 Miscellaneous assets 2674.8 2876.6 2964.3 3054.1 3144.5 3239.2 3168.1 3191.8 3215.5 3239.2 3262.8 7

 8 Nonmarketable Treasury securities (3) 1077.2 1142.9 1213.7 1254.1 1352.3 1421.1 1339.7 1342.6 1361.8 1421.1 1372.3 8

 9 Claims of pension fund on sponsor (4) 1597.6 1733.7 1750.7 1800.0 1792.1 1818.0 1828.4 1849.3 1853.7 1818.0 1890.5 9

 10 Pension entitlements (liabilities) (5) 2692.9 2894.8 2980.8 3070.0 3161.7 3256.1 3185.1 3208.9 3232.1 3256.1 3279.4 10

(1) Includes civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund, foreign service retirement and

 disability fund, and the National Railroad Investment Trust.

(2) Includes claims on sponsor (i.e., unfunded pension entitlements).

(3) Nonmarketable government securities held by the civil service retirement and disability fund, Railroad Retirement Board, judicial retirement fund, military retirement fund,

 and foreign service retirement and disability fund.

(4) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(5) Actuarial value of accrued pension entitlements in defined benefit plans. These liabilities are assets of the household sector.

L.119.c Federal Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 Total financial assets 229.6 264.5 285.2 314.9 381.0 427.3 388.5 400.7 409.3 427.3 436.8 1

 2 Credit market instruments 124.3 136.0 161.2 176.6 186.0 203.5 187.7 190.2 195.5 203.5 144.3 2

 3 Treasury securities (2) 117.6 128.0 151.7 164.1 176.6 194.7 179.6 181.7 187.1 194.7 135.3 3

 4 Agency- and GSE-backed securities 4.1 4.9 5.8 7.5 5.9 5.5 5.2 5.4 5.3 5.5 5.6 4

 5 Corporate and foreign bonds 2.5 3.0 3.7 5.0 3.6 3.2 2.9 3.1 3.1 3.2 3.4 5

 6 Corporate equities 105.3 128.5 124.0 138.3 195.0 223.8 200.8 210.5 213.8 223.8 231.6 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 60.9 7

 8 Pension entitlements (liabilities) 229.6 264.5 285.2 314.9 381.0 427.3 388.5 400.7 409.3 427.3 436.8 8

(1) Thrift Savings Plan.

(2) Includes nonmarketable and marketable Treasury securities held by the Thrift Savings Plan G and F funds.

(3) Suspended investments in the Thrift Savings Plan G Fund by the Treasury.
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L.120 State and Local Government Employee Retirement Funds

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (1) 4282.4 4778.5 4934.4 5099.1 5234.0 5453.4 5289.1 5347.2 5396.1 5453.4 5509.8 1

 2 Checkable deposits and currency 3.6 4.2 4.5 4.6 4.6 5.0 4.5 5.3 5.3 5.0 5.1 2

 3 Time and savings deposits 30.2 35.6 37.1 34.3 36.1 37.8 35.8 35.6 35.6 37.8 38.9 3

 4 Money market fund shares 41.2 43.6 44.0 40.6 43.2 45.5 42.6 42.6 42.0 45.5 46.3 4

 5 Security repurchase agreements 3.0 3.4 3.4 3.2 3.4 3.5 3.3 3.3 3.3 3.5 3.6 5

 6 Credit market instruments 773.0 795.3 802.7 806.0 885.5 920.6 890.1 899.0 919.8 920.6 921.2 6

 7 Open market paper 37.4 41.9 43.4 40.0 42.3 44.1 42.6 42.0 42.4 44.1 46.2 7

 8 Treasury securities 161.9 172.5 181.8 194.7 207.3 216.1 208.1 209.1 211.5 216.1 224.9 8

 9 Agency- and GSE-backed securities 168.8 169.6 180.7 192.1 199.0 194.1 198.4 200.4 203.1 194.1 184.0 9

 10 Municipal securities 1.5 2.3 1.7 1.9 2.7 2.0 2.3 2.1 2.0 2.0 2.0 10

 11 Corporate and foreign bonds 391.1 397.0 383.8 366.9 424.6 454.2 428.7 435.0 450.5 454.2 454.3 11

 12 Mortgages 12.3 11.9 11.4 10.4 9.7 10.1 10.0 10.3 10.3 10.1 9.8 12

 13 Corporate equities 1751.3 1930.1 1843.3 2019.1 2432.6 2419.7 2415.9 2470.6 2408.7 2419.7 2415.9 13

 14 Mutual fund shares 342.0 370.1 295.2 307.3 393.7 406.1 395.8 404.6 397.8 406.1 407.9 14

 15 Miscellaneous assets 1338.1 1596.3 1904.0 1884.0 1435.0 1615.2 1501.1 1486.3 1583.6 1615.2 1670.9 15

 16 Unallocated insurance contracts (2) 135.5 151.5 140.1 134.7 131.0 136.6 132.3 135.8 134.5 136.6 138.6 16

 17 Claims of pension fund on sponsor (3) 1116.9 1343.4 1661.0 1649.3 1192.8 1358.6 1254.9 1233.1 1329.9 1358.6 1414.3 17

 18 Other 85.7 101.4 102.8 100.0 111.2 119.9 113.9 117.5 119.2 119.9 118.0 18

 19 Pension entitlements (liabilities) (4) 4387.1 4885.0 5045.2 5222.6 5371.4 5596.6 5427.2 5491.6 5537.4 5596.6 5655.0 19

 Memo:

 Funded status of defined benefit plans:

 20 Pension entitlements 3959.8 4408.7 4604.1 4762.4 4862.9 5066.2 4913.7 4964.5 5015.4 5066.2 5117.0 20

 21 Funded by assets (5) 2842.9 3065.3 2943.1 3113.1 3670.1 3707.5 3658.8 3731.5 3685.4 3707.5 3702.7 21

 22 Unfunded (line 17) 1116.9 1343.4 1661.0 1649.3 1192.8 1358.6 1254.9 1233.1 1329.9 1358.6 1414.3 22

 Total financial assets (6)

 23 Defined benefit plans 3855.2 4302.2 4493.3 4639.0 4725.5 4923.0 4775.6 4820.1 4874.1 4923.0 4971.8 23

 24 Defined contribution plans 427.2 476.3 441.1 460.2 508.5 530.4 513.5 527.1 522.0 530.4 538.0 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.
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L.120.b State and Local Government Employee Retirement Funds: Defined Benefit Plans

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets (1) 3855.2 4302.2 4493.3 4639.0 4725.5 4923.0 4775.6 4820.1 4874.1 4923.0 4971.8 1

 2 Checkable deposits and currency 3.6 4.1 4.3 4.0 4.1 4.4 4.1 4.1 4.1 4.4 4.5 2

 3 Time and savings deposits 28.7 34.5 36.5 34.0 35.5 37.4 35.3 35.0 35.1 37.4 38.7 3

 4 Money market fund shares 41.2 43.6 43.6 40.6 42.5 44.7 42.2 41.9 42.0 44.7 46.3 4

 5 Security repurchase agreements 3.0 3.4 3.4 3.2 3.4 3.5 3.3 3.3 3.3 3.5 3.6 5

 6 Credit market instruments 742.4 761.6 767.0 768.9 850.8 885.8 855.6 864.3 884.9 885.8 885.9 6

 7 Open market paper 32.3 38.0 39.7 37.0 38.7 40.7 38.4 38.2 38.3 40.7 42.2 7

 8 Treasury securities 151.4 159.3 166.1 178.7 194.3 203.7 195.1 196.4 199.1 203.7 213.3 8

 9 Agency- and GSE-backed securities 158.7 159.8 171.6 183.6 190.6 186.1 191.1 192.5 195.4 186.1 175.7 9

 10 Municipal securities 1.4 2.1 1.5 1.5 1.9 1.1 1.6 1.4 1.1 1.1 1.1 10

 11 Corporate and foreign bonds 386.2 390.6 376.7 357.8 415.5 444.0 419.5 425.6 440.6 444.0 443.9 11

 12 Mortgages 12.3 11.9 11.4 10.4 9.7 10.1 10.0 10.3 10.3 10.1 9.8 12

 13 Corporate equities 1628.8 1793.6 1721.5 1887.1 2273.0 2255.2 2255.7 2306.4 2246.6 2255.2 2249.0 13

 14 Mutual fund shares 205.2 217.0 153.5 152.3 213.5 215.2 211.8 216.6 211.0 215.2 213.2 14

 15 Miscellaneous assets 1202.2 1444.4 1763.5 1748.9 1302.8 1476.8 1367.6 1348.5 1447.1 1476.8 1530.6 15

 16 Claims of pension fund on sponsor (2) 1116.9 1343.4 1661.0 1649.3 1192.8 1358.6 1254.9 1233.1 1329.9 1358.6 1414.3 16

 17 Other 85.3 101.0 102.5 99.6 110.0 118.2 112.7 115.4 117.1 118.2 116.2 17

 18 Pension entitlements (liabilities) (3) 3959.8 4408.7 4604.1 4762.4 4862.9 5066.2 4913.7 4964.5 5015.4 5066.2 5117.0 18

(1) Includes claims on sponsor (i.e., unfunded pension entitlements).

(2) Unfunded defined benefit pension entitlements. Negative values indicate overfunding.

(3) Actuarial value of accrued defined benefit pension entitlements. These liabilities are assets of the household sector.

L.120.c State and Local Government Employee Retirement Funds: Defined Contribution Plans (1)

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

 1 Total financial assets 427.2 476.3 441.1 460.2 508.5 530.4 513.5 527.1 522.0 530.4 538.0 1

 2 Checkable deposits and currency 0.1 0.1 0.3 0.6 0.4 0.6 0.4 1.2 1.2 0.6 0.6 2

 3 Time and savings deposits 1.5 1.0 0.7 0.3 0.6 0.4 0.5 0.5 0.5 0.4 0.2 3

 4 Money market fund shares 0.0 0.0 0.4 0.0 0.7 0.9 0.4 0.8 0.0 0.9 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 0.0 5

 6 Credit market instruments 30.6 33.7 35.7 37.1 34.7 34.8 34.5 34.7 34.9 34.8 35.3 6

 7 Open market paper 5.1 3.9 3.7 3.0 3.6 3.4 4.1 3.9 4.1 3.4 4.0 7

 8 Treasury securities 10.4 13.3 15.7 16.0 12.9 12.3 13.0 12.8 12.4 12.3 11.6 8

 9 Agency- and GSE-backed securities 10.1 9.9 9.1 8.6 8.3 8.1 7.3 7.9 7.7 8.1 8.4 9

 10 Municipal securities 0.1 0.2 0.2 0.4 0.8 0.9 0.7 0.8 0.8 0.9 0.9 10

 11 Corporate and foreign bonds 4.8 6.4 7.1 9.1 9.1 10.2 9.2 9.3 9.9 10.2 10.4 11

 12 Corporate equities 122.4 136.5 121.8 132.0 159.6 164.5 160.2 164.2 162.2 164.5 166.9 12

 13 Mutual fund shares 136.8 153.1 141.8 155.0 180.3 190.9 184.0 188.0 186.8 190.9 194.7 13

 14 Miscellaneous assets 135.8 151.9 140.5 135.1 132.2 138.4 133.5 137.8 136.5 138.4 140.3 14

 15 Unallocated insurance contracts (2) 135.5 151.5 140.1 134.7 131.0 136.6 132.3 135.8 134.5 136.6 138.6 15

 16 Other 0.3 0.4 0.4 0.3 1.2 1.7 1.2 2.0 2.0 1.7 1.7 16

 17 Pension entitlements (liabilities) 427.2 476.3 441.1 460.2 508.5 530.4 513.5 527.1 522.0 530.4 538.0 17

(1) Includes 403(b) and 457 type plans.

(2) Assets held at life insurance companies.
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L.121 Money Market Mutual Funds (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3258.6 2755.4 2642.5 2649.6 2678.5 2688.1 2592.5 2522.4 2565.4 2688.1 2609.9 1

 2 Foreign deposits 97.1 105.9 42.9 43.3 33.7 24.1 19.4 26.7 23.2 24.1 24.4 2

 3 Checkable deposits and currency 17.9 14.2 20.1 16.5 13.3 -4.3 14.2 18.6 -3.1 -4.3 -9.8 3

 4 Time and savings deposits 566.6 458.9 402.7 435.4 494.8 515.5 494.0 509.7 531.1 515.5 512.1 4

 5 Security repurchase agreements 480.0 479.4 490.5 544.7 493.4 644.6 506.5 564.0 575.8 644.6 625.9 5

 6 Credit market instruments 2070.0 1673.4 1663.6 1580.9 1611.7 1490.8 1521.0 1387.3 1419.6 1490.8 1440.7 6

 7 Open market paper 510.5 394.2 354.2 340.8 352.0 333.5 354.7 341.2 331.6 333.5 341.8 7

 8 Treasury securities 406.4 335.4 443.3 457.8 488.0 412.7 456.4 370.5 391.5 412.7 434.5 8

 9 Agency- and GSE-backed securities 543.0 402.8 403.7 343.5 361.3 384.6 324.8 327.8 346.5 384.6 323.4 9

 10 Municipal securities 440.1 386.7 357.3 336.7 308.3 281.7 296.4 281.4 278.7 281.7 273.5 10

 11 Corporate and foreign bonds 169.9 154.2 105.1 102.1 102.0 78.3 88.8 66.4 71.1 78.3 67.5 11

 12 Miscellaneous assets 26.9 23.5 22.7 28.8 31.6 17.3 37.3 16.0 18.8 17.3 16.7 12

 13 Total shares outstanding (liabilities) 3258.6 2755.4 2642.5 2649.6 2678.5 2688.1 2592.5 2522.4 2565.4 2688.1 2609.9 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; amounts outstanding end of period, not seasonally adjusted

 1 Total financial assets 6920.7 7873.0 7870.9 9326.1 11544.4 12603.6 11899.2 12374.8 12343.7 12603.6 12903.8 1

 2 Security repurchase agreements 153.3 137.5 108.7 262.8 355.7 402.0 381.9 424.0 395.2 402.0 406.6 2

 3 Credit market instruments 2616.3 2969.9 3329.3 3981.3 4345.2 4822.1 4462.9 4583.4 4692.3 4822.1 4976.7 3

 4 Open market paper 80.2 66.3 40.0 77.5 105.2 120.6 113.9 127.9 118.3 120.6 122.1 4

 5 Treasury securities 258.0 380.9 446.7 567.5 622.5 742.0 658.9 679.9 715.1 742.0 795.2 5

 6 Agency- and GSE-backed securities 603.2 679.6 794.6 883.8 859.8 829.6 844.3 808.0 815.9 829.6 820.3 6

 7 Municipal securities 478.8 525.5 541.2 627.4 613.9 657.7 618.2 630.4 643.2 657.7 672.5 7

 8 Corporate and foreign bonds 1120.7 1243.0 1413.4 1719.4 1998.8 2317.7 2067.5 2180.8 2240.9 2317.7 2411.2 8

 9 Other loans and advances 75.4 74.6 93.5 105.7 145.1 154.5 160.1 156.5 158.9 154.5 155.4 9

 10 Corporate equities 4136.2 4762.7 4427.2 5109.4 6851.8 7392.1 7030.1 7364.8 7233.0 7392.1 7533.2 10

 11 Miscellaneous assets 14.9 2.9 5.7 -27.4 -8.3 -12.6 24.4 2.6 23.2 -12.6 -12.6 11

 12 Total shares outstanding (liabilities) 6920.7 7873.0 7870.9 9326.1 11544.4 12603.6 11899.2 12374.8 12343.7 12603.6 12903.8 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; amounts outstanding end of period, not seasonally adjusted

 Closed-end funds

 1 Total financial assets 228.6 243.1 240.5 256.5 283.6 285.0 287.0 294.4 291.2 285.0 283.8 1

 2 Credit market instruments 141.1 146.4 144.7 155.9 169.4 165.7 169.7 170.4 167.8 165.7 165.3 2

 3 Treasury securities 4.4 5.1 4.8 5.2 5.7 5.5 5.8 5.9 5.8 5.5 5.4 3

 4 Municipal securities 81.2 81.6 82.5 85.9 84.3 84.8 85.2 85.8 84.2 84.8 84.6 4

 5 Corporate and foreign bonds 55.6 59.7 57.3 64.8 79.4 75.4 78.7 78.7 77.8 75.4 75.3 5

 6 Corporate equities 87.4 96.7 95.9 100.6 114.2 119.3 117.3 124.0 123.5 119.3 118.4 6

 7 Total shares outstanding (liabilities) 228.6 243.1 240.5 256.5 283.6 285.0 287.0 294.4 291.2 285.0 283.8 7

 Exchange-traded funds

 8 Total financial assets 773.1 986.8 1042.6 1324.4 1670.6 1969.3 1704.1 1822.3 1824.4 1969.3 2055.1 8

 9 Credit market instruments 103.0 132.7 178.8 231.1 243.3 294.3 254.3 266.3 272.4 294.3 313.6 9

 10 Treasury securities 41.8 51.0 62.4 63.6 57.1 70.1 59.3 63.0 64.4 70.1 73.2 10

 11 Municipal securities 5.9 7.6 8.6 12.3 11.4 14.6 11.8 12.6 13.4 14.6 16.0 11

 12 Corporate and foreign bonds 55.4 74.1 107.7 155.3 174.8 209.6 183.2 190.7 194.7 209.6 224.4 12

 13 Corporate equities 670.0 854.1 863.8 1093.3 1427.3 1675.0 1449.9 1555.9 1552.0 1675.0 1741.5 13

 14 Total shares outstanding (liabilities) 773.1 986.8 1042.6 1324.4 1670.6 1969.3 1704.1 1822.3 1824.4 1969.3 2055.1 14
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L.124 Government-Sponsored Enterprises (GSEs) (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3048.5 6722.4 6480.2 6275.1 6361.3 6399.9 6256.9 6286.3 6323.0 6399.9 6353.5 1

 2 Checkable deposits and currency 99.4 63.4 72.7 52.6 81.6 65.0 45.4 49.3 89.3 65.0 53.4 2

 3 Time and savings deposits 25.7 26.1 13.4 4.3 5.4 3.3 7.9 5.9 5.4 3.3 1.9 3

 4 Federal funds and security repos 123.3 151.2 112.3 150.8 152.3 162.6 127.3 134.3 110.9 162.6 158.2 4

 5 Credit market instruments 2699.7 6333.1 6133.4 5914.8 5956.4 6014.4 5924.2 5945.4 5968.1 6014.4 5975.3 5

 6 Open market paper 9.7 9.9 6.5 3.4 4.4 6.0 4.8 5.7 6.0 6.0 5.6 6

 7 Treasury securities 36.6 82.6 100.2 69.0 59.1 64.3 65.2 64.5 65.0 64.3 71.8 7

 8 Agency- and GSE-backed securities 924.5 377.0 358.9 310.6 287.9 295.7 283.6 285.6 290.3 295.7 292.6 8

 9 Municipal securities 29.1 24.9 21.0 17.0 13.4 10.8 12.7 12.2 11.4 10.8 9.9 9

 10 Corporate and foreign bonds 296.0 266.5 235.7 185.7 126.3 95.4 120.1 109.4 101.4 95.4 85.8 10

 11 Other loans and advances 695.9 551.3 487.0 505.7 587.5 671.8 576.9 628.0 639.1 671.8 641.6 11

 12 Sallie Mae 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Farm Credit System 80.0 87.3 83.8 92.1 95.0 106.1 98.3 97.4 99.3 106.1 105.0 13

 14 FHLB 615.9 464.0 403.3 413.6 492.6 565.7 478.5 530.6 539.8 565.7 536.6 14

 15 Mortgages 707.7 5021.0 4924.0 4823.5 4877.8 4870.5 4861.0 4840.1 4854.8 4870.5 4868.0 15

 16 Home 433.4 4690.7 4587.7 4476.1 4544.9 4537.9 4532.2 4515.2 4527.2 4537.9 4528.3 16

 17 Consolidated trusts (2) 0.0 4141.0 4032.1 3958.0 4087.7 4104.2 4085.6 4073.2 4090.8 4104.2 4098.9 17

 18 Other 433.4 549.7 555.6 518.0 457.1 433.6 446.5 442.0 436.4 433.6 429.4 18

 19 Multifamily residential 204.4 256.5 259.2 265.5 243.5 240.8 238.9 234.3 236.4 240.8 247.1 19

 20 Consolidated trusts (2) 0.0 75.4 99.9 127.4 146.3 164.1 148.8 151.0 157.5 164.1 170.3 20

 21 Other 204.4 181.1 159.4 138.1 97.2 76.7 90.1 83.3 79.0 76.7 76.8 21

 22 Farm 69.9 73.8 77.1 82.0 89.4 91.8 90.0 90.6 91.2 91.8 92.6 22

 23 Consumer credit (3) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Miscellaneous assets 100.3 148.6 148.5 152.6 165.6 154.7 152.1 151.4 149.3 154.7 164.7 24

 25 Total liabilities 2977.0 6615.1 6377.9 6216.8 6314.9 6386.6 6222.6 6261.6 6299.0 6386.6 6344.7 25

 26 Federal funds and security repos 1.2 1.3 0.4 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.1 26

 27 Credit market instruments 2706.6 6434.5 6247.3 6092.7 6200.2 6275.5 6111.4 6150.6 6186.2 6275.5 6234.6 27

 28 GSE issues (4) 2706.6 6434.5 6247.3 6092.7 6200.2 6275.5 6111.4 6150.6 6186.2 6275.5 6234.6 28

 29 Consolidated trusts (2) 0.0 4216.4 4132.0 4085.4 4234.0 4268.3 4234.5 4224.3 4248.3 4268.3 4269.2 29

 30 Other 2706.6 2218.1 2115.4 2007.3 1966.2 2007.2 1876.9 1926.3 1937.9 2007.2 1965.4 30

 31 U.S. government loans 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 31

 32 Miscellaneous liabilities 269.2 179.4 130.2 124.1 114.7 111.0 111.2 111.1 112.8 111.0 110.0 32

(1) Federal Home Loan Banks, Fannie Mae, Freddie Mac, Farmer Mac, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation. The Student Loan Marketing Association

 (Sallie Mae) was included until it was fully privatized in 2004:Q4. Beginning 2010:Q1, almost all Fannie Mae and Freddie Mac mortgage pools (table L.125) are consolidated on Fannie Mae’s and

 Freddie Mac’s balance sheets.

(2) Consolidated trusts refers to the unpaid balance of securitized mortgages Fannie Mae and Freddie Mac moved on to their balance sheets at the beginning of 2010 in response to new accounting rules.

(3) Sallie Mae student loans.

(4) Such issues are classified as agency- and GSE-backed securities.

L.125 Agency- and GSE-Backed Mortgage Pools (1)

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

 1 Total financial assets 5376.7 1139.5 1304.8 1437.0 1569.4 1644.7 1585.8 1600.0 1623.6 1644.7 1642.5 1

 2 Home mortgages 5266.5 1068.8 1216.8 1321.8 1420.6 1471.7 1432.0 1440.7 1458.8 1471.7 1465.9 2

 3 Multifamily residential mortgages 105.7 66.9 86.4 113.4 147.1 171.4 152.0 157.6 163.2 171.4 175.0 3

 4 Commercial mortgages 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Farm mortgages 4.5 3.8 1.7 1.9 1.8 1.6 1.7 1.7 1.7 1.6 1.6 5

 6 Total pool securities (liabilities)(2) 5376.7 1139.5 1304.8 1437.0 1569.4 1644.7 1585.8 1600.0 1623.6 1644.7 1642.5 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 are consolidated on Fannie

 Mae’s and Freddie Mac’s balance sheets (table L.124). Also includes agency- and GSE-backed mortgage pool securities which are used as collateral for agency- and GSE-backed CMOs and privately

 issued CMOs. Excludes Federal Financing Bank holdings of pool securities, which are included with federal government mortgages and other loans and advances.

(2) Such issues are classified as agency- and GSE-backed securities.
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L.126 Issuers of Asset-Backed Securities (ABS)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3289.8 2235.9 1989.0 1769.4 1481.9 1385.6 1430.8 1401.5 1394.0 1385.6 1359.7 1

 2 Treasury securities 53.9 40.1 29.2 23.4 24.3 25.1 25.0 24.1 25.0 25.1 24.3 2

 3 Agency- and GSE-backed securities (1) 99.6 3.6 0.3 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.1 3

 4 Other loans and advances 252.2 167.8 162.4 161.7 150.2 159.3 154.7 150.6 155.6 159.3 160.8 4

 5 Mortgages (2) 2250.4 1922.3 1703.4 1492.9 1222.4 1120.0 1169.4 1146.5 1133.2 1120.0 1095.0 5

 6 Home 1578.7 1303.0 1109.5 928.3 792.4 701.1 768.3 744.2 720.1 701.1 676.4 6

 7 Multifamily residential 107.0 98.4 90.7 81.1 75.2 73.5 74.4 72.7 72.8 73.5 71.4 7

 8 Commercial 564.8 520.8 503.2 483.5 354.8 345.3 326.7 329.6 340.3 345.3 347.2 8

 9 Consumer credit 572.5 50.3 46.2 50.0 49.1 49.8 47.3 46.3 49.1 49.8 48.2 9

 10 Trade credit 61.3 51.8 47.6 41.2 35.7 31.3 34.3 33.9 31.0 31.3 31.3 10

 11 Total liabilities 3292.2 2235.9 1989.0 1769.4 1481.9 1385.6 1430.8 1401.5 1394.0 1385.6 1359.7 11

 12 Commercial paper 293.1 120.2 96.0 87.0 79.9 64.8 73.7 70.8 70.4 64.8 63.5 12

 13 Corporate bonds (net) (3) 2999.1 2115.7 1893.0 1682.4 1402.0 1320.8 1357.0 1330.7 1323.6 1320.8 1296.2 13

 Memo:

 Securitized assets not included above

 14 Consumer leases (4) 2.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 REIT assets (5) 18.6 18.1 14.3 15.6 155.2 166.5 175.6 169.7 168.4 166.5 159.0 15

 Securitized liabilities not included above

 16 Commercial paper (6) 0.0 112.9 120.6 87.5 59.7 54.5 58.4 56.0 54.7 54.5 49.0 16

(1) Agency- and GSE-backed mortgage pool securities backing privately issued CMOs.

(2) Mortgages backing privately issued pool securities and privately issued CMOs.

(3) Liabilities net of assets.

(4) Receivables from operating leases, such as consumer automobile leases, are booked as current income when payments are received and are not included in financial assets (or household liabilities).

 The leased automobile is a nonfinancial asset.

(5) Included in table L.128.

(6) Included in table L.111 line 43.

L.127 Finance Companies (1)

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

 1 Total financial assets 1662.5 1588.5 1569.3 1493.7 1472.8 1501.4 1466.6 1463.9 1478.7 1501.4 1502.1 1

 2 Checkable deposits and currency 17.0 26.5 31.7 27.8 32.1 31.9 32.9 32.3 31.1 31.9 32.3 2

 3 Time and savings deposits 51.0 79.6 95.0 83.5 96.2 95.7 98.6 97.0 93.3 95.7 97.0 3

 4 Credit market instruments 1549.7 1405.4 1359.6 1324.9 1305.4 1318.9 1293.8 1295.1 1296.4 1318.9 1312.8 4

 5 Corporate and foreign bonds 198.6 84.1 85.0 78.7 67.9 74.0 71.8 72.5 69.9 74.0 76.1 5

 6 Other loans and advances 448.9 372.7 375.8 387.0 401.3 412.8 398.0 401.4 401.7 412.8 414.4 6

 7 Mortgages 430.3 243.5 211.2 179.5 157.0 148.0 154.1 149.6 148.2 148.0 144.9 7

 8 Consumer credit 471.9 705.0 687.6 679.8 679.1 684.1 669.9 671.7 676.6 684.1 677.5 8

 9 U.S. direct investment abroad 186.9 206.0 221.8 225.4 228.6 235.0 235.8 238.1 239.7 235.0 228.7 9

 10 Miscellaneous assets -142.1 -129.0 -138.7 -168.1 -189.5 -180.1 -194.5 -198.7 -181.9 -180.1 -168.7 10

 11 Total liabilities 1630.3 1558.7 1532.7 1445.6 1424.0 1438.1 1411.0 1406.6 1417.6 1438.1 1449.8 11

 12 Credit market instruments 1044.1 1280.7 1261.9 1205.1 1209.3 1238.2 1198.5 1201.6 1215.6 1238.2 1249.4 12

 13 Open market paper 62.1 111.0 121.0 129.1 118.8 117.8 114.0 109.8 115.8 117.8 113.8 13

 14 Corporate bonds 837.5 1078.2 1038.8 957.5 961.9 981.3 959.3 968.9 969.6 981.3 995.1 14

 15 Depository institution loans n.e.c. 144.5 91.5 102.1 118.5 128.6 139.1 125.2 123.0 130.2 139.1 140.5 15

 16 Other loans and advances 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Taxes payable 12.7 6.0 6.7 6.7 6.8 7.1 6.8 6.8 7.0 7.1 7.6 17

 18 Foreign direct investment in U.S. 90.0 114.7 91.1 90.9 73.0 73.1 73.4 74.2 72.5 73.1 71.7 18

 19 Miscellaneous liabilities 483.6 157.3 173.0 142.9 134.9 119.7 132.3 123.9 122.5 119.7 121.1 19

 20 Investment by parent 280.5 175.7 163.7 162.8 161.8 162.7 167.0 165.1 162.4 162.7 159.8 20

 21 Other 203.1 -18.4 9.3 -19.9 -26.9 -43.0 -34.7 -41.1 -40.0 -43.0 -38.7 21

 Memo:

 22 Consumer leases not included above (2) 85.4 111.8 119.7 144.0 167.3 188.9 172.1 177.7 184.4 188.9 193.3 22

(1) Includes retail captive finance companies and mortgage companies.

(2) See footnote (4), table L.126.
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L.128 Real Estate Investment Trusts (REITs) (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 262.8 302.4 433.4 594.2 644.2 726.4 669.0 693.7 700.8 726.4 723.4 1

 2 Checkable deposits and currency 30.9 25.1 27.6 35.3 34.0 38.1 32.9 37.5 38.0 38.1 38.4 2

 3 Credit market instruments 167.2 211.1 331.2 458.5 497.6 554.0 513.7 522.5 522.2 554.0 544.7 3

 4 Agency- and GSE-backed securities 105.2 143.4 248.1 357.6 261.9 269.8 253.1 264.1 258.8 269.8 261.4 4

 5 Corporate and foreign bonds 16.0 23.2 27.0 36.5 36.3 39.7 37.8 37.2 38.1 39.7 44.2 5

 6 Mortgages 46.0 44.6 56.1 64.5 199.3 244.6 222.8 221.3 225.4 244.6 239.0 6

 7 Home 8.9 9.0 19.8 26.5 23.1 41.1 25.3 27.0 34.1 41.1 40.3 7

 8 Multifamily residential 2.3 2.0 1.7 1.9 2.4 8.4 2.2 2.2 3.3 8.4 8.6 8

 9 Commercial 34.8 33.7 34.6 36.1 173.9 195.1 195.3 192.0 187.9 195.1 190.2 9

 10 Miscellaneous assets 64.8 66.1 74.7 100.4 112.6 134.2 122.4 133.6 140.6 134.2 140.3 10

 11 Total liabilities 489.9 523.9 654.4 817.8 907.9 1012.7 936.2 962.2 983.2 1012.7 1019.7 11

 12 Security repurchase agreements 90.5 120.4 218.1 320.6 254.0 261.2 240.6 249.9 249.4 261.2 258.3 12

 13 Credit market instruments 339.8 339.9 365.5 401.0 579.4 663.3 614.4 626.8 646.6 663.3 674.4 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 144.4 145.4 152.9 179.6 353.2 407.4 382.1 395.9 405.9 407.4 410.3 15

 16 Depository institution loans n.e.c. 20.2 18.4 23.0 27.0 24.0 32.1 27.0 24.0 27.4 32.1 35.9 16

 17 Mortgages 175.3 176.1 189.5 194.4 202.2 223.8 205.3 206.9 213.3 223.8 228.1 17

 18 Miscellaneous liabilities 59.6 63.7 70.8 96.3 74.6 88.2 81.1 85.5 87.3 88.2 87.1 18

 Memo:

 19 Securitized assets included above 18.6 18.1 14.3 15.6 155.2 166.5 175.6 169.7 168.4 166.5 159.0 19

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

 21 Home mortgages 6.1 7.2 6.5 10.2 14.2 15.7 14.5 14.2 15.1 15.7 14.6 21

 22 Multifamily residential mortgages 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 22

 23 Commercial mortgages 12.2 10.6 7.5 5.2 140.7 150.6 160.8 155.2 153.0 150.6 144.2 23

(1) Additional detail on financial assets and liabilities for equity and mortgage REITs is available on tables L.128.e and L.128.m.
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L.128.e Equity Real Estate Investment Trusts

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 95.1 94.3 102.3 116.4 129.7 159.6 137.3 148.3 155.2 159.6 166.2 1

 2 Checkable deposits and currency 23.4 19.3 17.0 21.1 22.1 25.9 21.2 25.1 25.5 25.9 24.9 2

 3 Credit market instruments 20.6 21.3 23.6 25.0 23.1 29.3 24.0 24.6 27.1 29.3 29.9 3

 4 Corporate and foreign bonds 5.0 5.4 4.8 4.6 2.8 5.0 2.9 3.2 4.3 5.0 5.4 4

 5 Mortgages 15.5 15.9 18.8 20.4 20.3 24.3 21.2 21.4 22.8 24.3 24.5 5

 6 Home 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 6

 7 Multifamily residential 0.3 0.3 0.3 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 7

 8 Commercial 15.1 15.5 18.3 19.9 19.8 23.9 20.6 20.9 22.3 23.9 23.9 8

 9 Miscellaneous assets 51.1 53.7 61.8 70.3 84.5 104.3 92.0 98.5 102.5 104.3 111.5 9

 10 Total liabilities 347.2 346.8 384.1 422.6 459.0 531.1 472.5 490.2 512.0 531.1 547.8 10

 11 Credit market instruments 300.8 300.9 333.6 367.5 402.0 464.8 415.0 429.7 448.1 464.8 480.8 11

 12 Corporate bonds 107.3 108.4 121.6 149.2 178.1 211.9 185.0 200.3 209.4 211.9 219.7 12

 13 Depository institution loans n.e.c. 18.2 16.4 22.5 23.9 21.7 29.1 24.6 22.5 25.5 29.1 33.0 13

 14 Mortgages 175.3 176.1 189.5 194.4 202.2 223.8 205.3 206.9 213.3 223.8 228.1 14

 15 Multifamily residential 27.3 27.8 27.9 26.7 30.0 31.0 29.6 30.1 30.0 31.0 31.8 15

 16 Commercial 147.9 148.3 161.7 167.7 172.1 192.8 175.7 176.8 183.4 192.8 196.3 16

 17 Miscellaneous liabilities 46.4 45.9 50.5 55.1 57.0 66.4 57.5 60.4 63.8 66.4 67.0 17

L.128.m Mortgage Real Estate Investment Trusts

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

 1 Total financial assets 167.7 208.1 331.1 477.8 514.5 566.8 531.7 545.4 545.6 566.8 557.2 1

 2 Checkable deposits and currency 7.4 5.8 10.7 14.2 11.9 12.2 11.6 12.4 12.5 12.2 13.6 2

 3 Credit market instruments 146.6 189.9 307.6 433.5 474.5 524.7 489.7 497.9 495.1 524.7 514.8 3

 4 Agency- and GSE-backed securities 105.2 143.4 248.1 357.6 261.9 269.8 253.1 264.1 258.8 269.8 261.4 4

 5 Corporate and foreign bonds 11.0 17.8 22.2 31.9 33.6 34.7 35.0 33.9 33.8 34.7 38.8 5

 6 Mortgages 30.5 28.7 37.3 44.1 179.0 220.2 201.6 199.9 202.6 220.2 214.6 6

 7 Home 8.8 8.8 19.6 26.3 22.9 40.9 25.1 26.8 33.9 40.9 40.1 7

 8 Multifamily residential 2.0 1.6 1.4 1.5 2.0 8.2 1.9 1.9 3.0 8.2 8.3 8

 9 Commercial 19.7 18.2 16.3 16.3 154.1 171.2 174.7 171.2 165.6 171.2 166.2 9

 10 Miscellaneous assets 13.7 12.5 12.8 30.1 28.1 29.9 30.4 35.1 38.1 29.9 28.8 10

 11 Total liabilities 142.7 177.2 270.3 395.2 448.9 481.6 463.7 472.0 471.3 481.6 472.0 11

 12 Security repurchase agreements 90.5 120.4 218.1 320.6 254.0 261.2 240.6 249.9 249.4 261.2 258.3 12

 13 Credit market instruments 39.1 39.0 31.9 33.5 177.4 198.5 199.4 197.0 198.4 198.5 193.5 13

 14 Open market paper 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Corporate bonds 37.1 37.0 31.3 30.4 175.1 195.5 197.0 195.6 196.5 195.5 190.7 15

 16 Depository institution loans n.e.c. 2.0 2.0 0.5 3.1 2.3 3.0 2.4 1.5 1.9 3.0 2.9 16

 17 Miscellaneous liabilities 13.2 17.8 20.3 41.2 17.6 21.9 23.6 25.1 23.4 21.9 20.1 17

 Memo:

 18 Securitized assets included above 18.6 18.1 14.3 15.6 155.2 166.5 175.6 169.7 168.4 166.5 159.0 18

 19 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Home mortgages 6.1 7.2 6.5 10.2 14.2 15.7 14.5 14.2 15.1 15.7 14.6 20

 21 Multifamily residential mortgages 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 21

 22 Commercial mortgages 12.2 10.6 7.5 5.2 140.7 150.6 160.8 155.2 153.0 150.6 144.2 22
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L.129 Security Brokers and Dealers

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3269.3 3503.6 3532.8 3706.5 3408.4 3254.7 3428.3 3383.1 3335.7 3254.7 3236.5 1

 2 Checkable deposits and currency 90.7 96.9 111.8 128.2 111.7 111.8 112.2 114.3 116.7 111.8 117.7 2

 3 Security repurchase agreements 1185.0 1428.5 1583.1 1638.2 1321.0 1152.7 1273.3 1230.3 1220.4 1152.7 1138.8 3

 4 Credit market instruments 525.3 557.5 563.2 652.3 476.9 395.9 450.5 429.6 385.7 395.9 397.5 4

 5 Open market paper 41.5 36.2 42.1 29.9 28.7 20.8 34.4 32.4 20.9 20.8 21.7 5

 6 Treasury securities 123.0 94.5 183.6 246.5 136.0 60.2 108.0 80.0 56.0 60.2 63.7 6

 7 Agency- and GSE-backed securities 110.9 149.8 147.7 169.6 114.2 121.9 113.3 114.2 106.7 121.9 124.3 7

 8 Municipal securities 35.4 40.0 30.9 26.6 18.6 18.9 16.9 18.2 16.2 18.9 20.6 8

 9 Corporate and foreign bonds 154.4 189.5 104.5 140.0 128.9 115.5 128.1 135.2 134.1 115.5 108.0 9

 10 Other loans and advances 60.1 47.4 54.3 39.6 50.4 58.6 49.8 49.7 51.8 58.6 59.2 10

 11 Corporate equities 124.2 117.2 103.2 126.7 172.4 187.8 153.1 167.7 176.9 187.8 162.9 11

 12 Security credit 203.0 278.2 238.9 303.7 339.2 369.5 320.6 375.4 390.3 369.5 354.3 12

 13 U.S. direct investment abroad 231.0 239.3 201.7 217.5 225.8 235.2 228.0 228.3 230.4 235.2 240.3 13

 14 Miscellaneous assets 910.1 786.0 730.9 639.8 761.4 801.8 890.6 837.4 815.3 801.8 825.1 14

 15 Total liabilities 3162.7 3404.3 3460.5 3621.4 3324.6 3167.9 3342.2 3300.3 3251.3 3167.9 3148.8 15

 16 Security repurchase agreements 1810.4 2006.3 2076.7 2207.9 1768.6 1547.7 1712.6 1677.1 1606.3 1547.7 1535.3 16

 17 Credit market instruments 92.9 129.7 91.8 90.2 112.4 123.9 122.7 113.4 123.9 123.9 107.4 17

 18 Corporate bonds 92.9 129.7 91.8 90.2 112.4 123.9 122.7 113.4 123.9 123.9 107.4 18

 19 Depository institution loans n.e.c. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Trade payables 70.1 18.1 14.3 14.2 14.5 17.9 14.8 17.8 19.9 17.9 19.2 20

 21 Security credit 733.7 763.5 795.4 828.2 897.1 962.5 952.5 954.1 982.4 962.5 964.4 21

 22 From households 701.7 725.2 726.1 757.0 815.5 869.0 866.2 866.6 892.5 869.0 870.5 22

 23 From U.S.-chartered depository institutions 20.4 23.6 35.8 45.0 52.9 61.1 58.4 61.0 60.3 61.1 61.5 23

 24 From foreign banking offices in U.S. 11.6 14.7 33.5 26.2 28.7 32.5 28.0 26.5 29.6 32.5 32.4 24

 25 Taxes payable 5.7 3.6 2.5 3.1 3.7 4.0 4.5 5.1 5.4 4.0 4.9 25

 26 Foreign direct investment in U.S. 64.4 88.5 104.6 110.4 119.5 123.0 121.7 122.5 123.0 123.0 122.3 26

 27 Miscellaneous liabilities 385.6 394.6 375.1 367.4 408.7 388.8 413.3 410.3 390.4 388.8 395.3 27

 28 Investment by parent companies 1119.3 1122.9 1163.3 1629.2 1671.8 1695.9 1696.4 1728.0 1690.6 1695.9 1704.3 28

 29 Other -733.7 -728.3 -788.1 -1261.8 -1263.1 -1307.0 -1283.1 -1317.6 -1300.2 -1307.0 -1309.0 29

(1) Includes loans extended through the Federal Reserve’s Primary Dealer Credit Facility (PDCF) and the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility (AMLF).
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L.130 Holding Companies (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 3317.2 3312.7 3357.3 4284.3 4243.7 4334.9 4287.1 4356.4 4328.6 4334.9 4297.9 1

 2 Time and savings deposits 11.2 10.0 12.4 34.4 35.9 27.0 37.5 31.4 41.0 27.0 33.8 2

 3 Security repurchase agreements 48.2 50.3 50.5 10.5 7.7 2.5 7.6 9.5 8.2 2.5 5.8 3

 4 Credit market instruments 75.8 97.9 101.1 209.2 151.8 140.8 145.5 143.5 152.5 140.8 132.8 4

 5 Treasury securities 5.8 19.6 26.8 8.2 16.6 13.9 16.5 21.8 23.9 13.9 10.2 5

 6 Agency- and GSE-backed securities 24.3 21.1 33.1 22.9 28.0 28.0 26.1 26.4 27.2 28.0 31.0 6

 7 Corporate and foreign bonds 31.1 38.3 18.3 72.7 31.5 34.1 29.8 31.2 37.6 34.1 29.2 7

 8 Other loans and advances 14.6 18.9 22.9 105.3 75.7 64.8 73.0 64.1 63.8 64.8 62.3 8

 9 Life insurance reserves 21.4 25.1 27.6 34.9 39.9 45.0 41.1 42.4 43.6 45.0 46.0 9

 10 Miscellaneous assets 3160.6 3129.4 3165.9 3995.3 4008.3 4119.6 4055.4 4129.6 4083.3 4119.6 4079.5 10

 11 Net trans. with depository subs. 1599.5 1632.8 1709.0 1889.2 1937.2 2128.3 1978.7 2030.3 2058.9 2128.3 2106.8 11

 12 Net trans. with property-casualty ins. co. subs. 0.0 0.0 0.0 11.2 5.2 5.3 4.7 5.1 5.1 5.3 3.9 12

 13 Net trans. with life insurance company subs. 40.5 62.7 72.0 17.2 10.7 11.5 11.0 11.5 11.5 11.5 11.8 13

 14 Net trans. with finance company subs. 209.3 115.0 94.6 91.1 75.4 62.2 63.9 63.1 62.1 62.2 61.1 14

 15 Net trans. with broker and dealer subs. 596.1 626.6 613.5 1060.5 1087.6 1088.3 1109.8 1125.0 1085.4 1088.3 1070.9 15

 16 Net trans. with foreign subs. 125.1 135.6 166.3 114.7 97.9 92.2 95.8 100.7 93.8 92.2 102.3 16

 17 Other 590.3 556.7 510.4 811.3 794.3 731.7 791.5 793.7 766.5 731.7 722.7 17

 18 Total liabilities 1805.1 1762.7 1706.4 2238.7 2142.1 2102.6 2142.3 2150.8 2114.4 2102.6 2079.5 18

 19 Security repurchase agreements 0.6 0.8 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Credit market instruments 1253.7 1237.2 1220.8 1416.4 1402.7 1394.3 1405.9 1406.9 1395.6 1394.3 1380.5 20

 21 Commercial paper 60.8 64.7 75.9 116.4 96.6 77.0 89.7 91.3 81.9 77.0 70.0 21

 22 Corporate bonds 1028.7 982.2 890.6 1103.2 1095.6 1123.2 1107.6 1129.4 1125.9 1123.2 1118.8 22

 23 Depository institution loans n.e.c. 164.2 190.3 254.3 196.8 210.6 194.2 208.6 186.2 187.9 194.2 191.8 23

 24 Miscellaneous liabilities 550.9 524.6 484.4 822.3 739.4 708.2 736.4 743.9 718.7 708.2 699.0 24

(1) Parent-only bank holding companies, savings and loan holding companies and security holding companies that file Federal Reserve Board form FR Y-9LP, FR Y-9SP, or FR 2320.
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L.131 Funding Corporations (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 1773.7 1609.5 1454.1 1343.3 1306.3 1322.3 1331.0 1310.8 1349.2 1322.3 1343.8 1

 2 Money market fund shares 752.1 604.1 519.5 458.1 408.8 420.8 393.5 355.2 364.7 420.8 423.5 2

 3 Security repurchase agreements 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 3

 4 Credit market instruments 270.0 311.0 247.0 190.3 189.7 190.7 226.9 231.8 251.4 190.7 190.7 4

 5 Open market paper 71.8 126.2 121.7 107.9 100.7 95.5 125.0 136.1 156.5 95.5 93.0 5

 6 Corporate and foreign bonds 175.3 163.4 105.8 69.6 78.4 83.1 90.5 85.7 84.6 83.1 86.6 6

 7 Other loans and advances 22.9 21.4 19.4 12.9 10.6 12.1 11.4 10.1 10.3 12.1 11.0 7

 8 Corporate equities (2) 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Miscellaneous assets 726.3 667.9 687.6 694.8 707.8 710.8 710.5 723.8 733.1 710.8 729.6 9

 10 Investment in foreign banking offices 203.1 171.6 137.8 126.0 123.5 103.2 123.9 120.8 127.8 103.2 96.2 10

 11 Investment in brokers and dealers 523.2 496.4 549.7 568.8 584.3 607.5 586.6 603.0 605.2 607.5 633.4 11

 12 Total liabilities 1773.7 1609.5 1454.1 1343.3 1306.3 1322.3 1331.0 1310.8 1349.2 1322.3 1343.8 12

 13 Credit market instruments 816.8 704.2 651.8 593.5 620.5 647.1 635.8 647.8 663.2 647.1 675.8 13

 14 Open market paper 261.7 167.1 94.3 29.0 45.2 49.6 62.4 56.6 74.1 49.6 53.5 14

 15 Corporate bonds 457.8 454.6 526.2 561.5 572.9 595.1 571.0 588.8 586.7 595.1 620.0 15

 16 Depository institution loans n.e.c. (3) 95.3 73.4 21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Other loans and advances (4) 2.0 9.2 9.8 3.0 2.4 2.4 2.4 2.4 2.4 2.4 2.4 17

 18 Foreign direct investment in U.S. 10.8 11.4 12.0 12.6 13.2 13.8 13.4 13.5 13.7 13.8 14.0 18

 19 Miscellaneous liabilities 946.0 893.9 790.3 737.2 672.5 661.4 681.8 649.5 672.3 661.4 654.0 19

 20 Securities loaned (net) 856.8 733.4 658.7 579.5 673.5 720.6 794.5 746.5 735.4 720.6 755.4 20

 21 Equity interest under PPIP 1.8 7.7 8.8 8.7 8.7 8.7 8.7 8.7 8.7 8.7 8.7 21

 22 Other (net) 87.4 152.9 122.8 148.9 -9.7 -68.0 -121.5 -105.8 -71.7 -68.0 -110.1 22

(1) Funding subsidiaries, custodial accounts for reinvested collateral of securities lending operations, Federal Reserve lending facilities,

 and funds associated with the Public-Private Investment Program (PPIP).

(2) Common stock of American International Assurance Company Ltd. (AIA) and American Life Insurance Company (ALICO), two life insurance subsidiaries of AIG.

(3) Loans extended by the Federal Reserve to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, Commercial Paper Funding Facility LLC, and American International Group (AIG).

(4) Loans extended by the federal government to the Term Asset-Backed Securities Loan Facility (TALF) and to funds associated with PPIP.
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L.132 Rest of the World

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total financial assets 14362.3 16054.1 17513.0 18951.0 21114.4 22808.8 21672.3 22252.3 22459.8 22808.8 23065.4 1

 2 SDR allocations 55.4 54.4 54.2 54.3 54.4 51.2 54.6 54.6 52.4 51.2 48.7 2

 3 Net interbank assets 86.0 24.2 238.1 102.1 414.2 381.1 466.6 493.1 508.5 381.1 396.8 3

 4 U.S. checkable deposits and currency 361.0 390.5 472.3 540.4 591.3 671.0 621.3 637.9 641.6 671.0 687.3 4

 5 U.S. time deposits 299.2 308.2 355.6 393.4 445.1 491.8 461.4 495.7 492.1 491.8 496.9 5

 6 Money market fund shares 76.9 69.8 74.4 96.9 108.2 110.8 107.3 106.4 107.7 110.8 110.3 6

 7 Security repurchase agreements 489.4 581.8 678.5 671.9 734.1 857.4 805.5 841.2 826.8 857.4 889.6 7

 8 Credit market instruments 7662.4 8413.9 8944.8 9508.7 9732.4 10328.2 9967.4 10108.9 10183.0 10328.2 10365.1 8

 9 Open market paper 117.2 102.1 102.7 102.8 101.7 107.9 106.4 117.3 119.4 107.9 116.8 9

 10 Treasury securities 3670.6 4458.8 5004.4 5571.5 5794.9 6156.2 5951.8 6012.5 6068.4 6156.2 6174.4 10

 11 Treasury bills 750.4 710.3 647.7 661.7 686.0 671.6 689.3 626.8 614.1 671.6 702.0 11

 12 Other Treasury securities 2920.2 3748.5 4356.7 4909.8 5108.9 5484.5 5262.5 5385.7 5454.3 5484.5 5472.3 12

 13 Agency- and GSE-backed securities 1150.0 1095.8 1078.2 1001.2 885.3 902.6 861.7 866.0 889.6 902.6 902.4 13

 14 Municipal securities 58.7 71.7 72.4 71.8 76.1 80.5 76.9 77.3 78.6 80.5 83.7 14

 15 U.S. corporate bonds (1) 2483.5 2523.1 2491.0 2617.6 2734.0 2910.7 2818.7 2877.6 2866.1 2910.7 2918.9 15

 16 Loans to U.S. corporate business 182.5 162.3 196.1 143.9 140.4 170.3 151.8 158.2 160.9 170.3 168.9 16

 17 U.S. corporate equities 2658.4 3216.0 3397.2 3953.0 5161.3 5835.5 5321.1 5536.0 5620.4 5835.5 5889.2 17

 18 Mutual fund shares 182.4 260.0 370.4 495.4 552.0 623.9 565.6 611.6 623.3 623.9 640.7 18

 19 Trade receivables 93.1 111.8 128.8 140.5 144.4 161.3 160.3 163.4 161.0 161.3 161.2 19

 20 Foreign direct investment in U.S. (2) 2398.2 2623.6 2798.7 2994.3 3176.9 3296.6 3141.4 3203.6 3243.1 3296.6 3379.6 20

 21 Total liabilities 8149.5 8862.5 9431.5 9907.1 10265.6 10615.4 10416.6 10607.4 10714.0 10615.4 10796.8 21

 22 U.S. official reserve assets (3) 119.4 121.1 136.7 138.9 133.4 118.9 133.1 134.0 125.9 118.9 108.1 22

 23 U.S. private deposits 1258.4 1303.9 1066.4 922.8 954.8 856.1 927.5 909.5 959.1 856.1 823.6 23

 24 Security repurchase agreements 454.8 663.7 764.7 805.1 721.6 756.5 792.2 742.9 773.3 756.5 809.1 24

 25 Credit market instruments 2005.9 2257.9 2484.9 2827.4 2965.7 3143.5 3045.9 3219.5 3183.8 3143.5 3205.3 25

 26 Commercial paper 401.3 398.6 345.1 373.0 407.0 384.3 413.8 435.1 390.7 384.3 414.7 26

 27 Bonds 1447.8 1677.6 1913.6 2186.5 2250.4 2419.5 2309.8 2446.9 2463.3 2419.5 2441.0 27

 28 Depository institution loans n.e.c. 137.5 162.0 205.2 237.7 276.7 305.3 290.5 304.5 296.9 305.3 315.4 28

 29 Other loans and advances 19.3 19.6 21.0 30.2 31.6 34.4 31.7 32.9 32.9 34.4 34.2 29

 30 Trade payables 45.1 51.1 55.1 55.7 45.3 45.9 38.6 39.9 41.3 45.9 46.9 30

 31 U.S. direct investment abroad (1,2) 4077.4 4273.6 4599.5 4972.9 5284.0 5535.8 5320.5 5396.4 5471.7 5535.8 5635.7 31

 32 Miscellaneous liabilities 188.5 191.2 324.1 184.1 160.8 158.8 158.9 165.2 158.9 158.8 168.1 32

 33 U.S. equity in IBRD, etc. 50.5 52.8 55.4 57.8 60.0 62.4 60.0 61.7 62.2 62.4 62.3 33

 34 Nonofficial foreign currencies 12.9 2.7 102.5 11.5 2.9 4.2 3.0 2.8 2.9 4.2 3.4 34

 35 Investment by holding companies 125.1 135.6 166.3 114.7 97.9 92.2 95.8 100.7 93.8 92.2 102.3 35

 Memo:

 36 Market value of foreign equities 3995.3 4900.2 4501.4 5311.5 6444.2 6685.2 6593.9 7027.2 6769.1 6685.2 6993.9 36

 held by U.S. residents (4)

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

(2) Direct investment is valued on a current-cost basis.

(3) Does not include monetary gold.

(4) Includes American Depositary Receipts (ADRs).
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L.200 U.S. Official Reserve Assets and SDR Allocations (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 174.8 175.5 190.9 193.2 187.7 170.0 187.7 188.6 178.2 170.0 156.8 1

 2 Federal government: SDR allocations 55.4 54.4 54.2 54.3 54.4 51.2 54.6 54.6 52.4 51.2 48.7 2

 3 Rest of the world 119.4 121.1 136.7 138.9 133.4 118.9 133.1 134.0 125.9 118.9 108.1 3

 4 SDR holdings 57.8 56.8 55.0 55.1 55.2 51.9 55.4 55.4 53.1 51.9 49.5 4

 5 Reserve position in IMF 11.4 12.5 30.1 34.2 30.8 25.2 29.8 30.5 28.4 25.2 19.8 5

 6 Other reserves 50.2 51.8 51.6 49.7 47.4 41.8 47.9 48.0 44.4 41.8 38.8 6

 7 Total assets 185.8 186.6 201.9 204.3 198.8 181.1 198.7 199.6 189.3 181.1 167.8 7

 8 Federal government 94.3 95.1 110.9 114.2 109.8 98.0 109.3 110.1 103.7 98.0 88.7 8

 9 Monetary gold (2) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 SDR holdings 57.8 56.8 55.0 55.1 55.2 51.9 55.4 55.4 53.1 51.9 49.5 10

 11 Reserve position in IMF 11.5 12.6 30.3 34.4 31.0 25.3 30.1 30.8 28.5 25.3 19.9 11

 12 Other reserves 25.0 25.7 25.6 24.7 23.6 20.7 23.8 23.9 22.1 20.7 19.3 12

 13 Rest of the world: SDR allocations 55.4 54.4 54.2 54.3 54.4 51.2 54.6 54.6 52.4 51.2 48.7 13

 14 Monetary authority 36.2 37.0 36.8 35.8 34.6 32.0 34.8 34.9 33.2 32.0 30.4 14

 15 Monetary gold (2) 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 15

 16 Reserve position in IMF -0.1 -0.1 -0.3 -0.2 -0.2 -0.1 -0.2 -0.2 -0.1 -0.1 -0.2 16

 17 Other reserves 25.3 26.1 26.0 25.0 23.8 21.1 24.0 24.1 22.3 21.1 19.5 17

 18 Discrepancy: monetary gold -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 -11.0 18

(1) Includes federal government liability to IMF for special drawing rights (SDRs) allocations and accrued interest.

(2) By international accounting standards, monetary gold is a financial asset for which there is no corresponding liability.

L.201 Special Drawing Rights (SDRs) Certificates and Treasury Currency

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

 SDR certificates:

 1 Liab: Federal government 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 1

 2 Asset: Monetary authority 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 5.2 2

 Treasury currency:

 3 Liab: Federal government 26.2 25.9 25.9 25.9 25.6 25.3 25.6 25.6 25.3 25.3 25.3 3

 4 Asset: Monetary authority 42.7 43.5 44.2 44.8 45.5 46.3 45.7 46.0 46.2 46.3 46.7 4

 5 Discrepancy (seigniorage) -16.5 -17.6 -18.3 -18.8 -19.9 -21.0 -20.2 -20.4 -20.8 -21.0 -21.3 5

L.202 U.S. Deposits in Foreign Countries

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

 1 Total rest of the world liability 1258.4 1303.9 1066.4 922.8 954.8 856.1 927.5 909.5 959.1 856.1 823.6 1

 Held by:

 2 Household sector 62.7 67.3 57.4 49.7 52.5 47.0 51.5 50.3 53.2 47.0 44.9 2

 3 Nonfinancial corporate business 31.5 40.6 34.8 35.4 78.1 72.1 67.4 77.9 80.2 72.1 73.7 3

 4 Money market mutual funds 97.1 105.9 42.9 43.3 33.7 24.1 19.4 26.7 23.2 24.1 24.4 4

 5 Discrepancy--unallocated assets 1067.0 1090.1 931.3 794.5 790.6 712.8 789.2 754.6 802.5 712.8 680.5 5
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L.203 Net Interbank Transactions

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 1215.5 1068.5 1889.0 1683.8 2812.9 2801.5 3025.0 3052.1 3123.8 2801.5 2864.1 1

 2 Monetary authority 1031.9 1020.8 1623.1 1562.1 2322.7 2453.7 2509.1 2520.8 2602.5 2453.7 2505.1 2

 3 U.S.-chartered depository institutions 633.7 428.3 164.9 36.7 227.8 275.5 213.2 221.1 323.2 275.5 300.4 3

 4 Foreign banking offices in U.S. -377.8 -347.1 157.5 155.6 330.6 140.5 372.0 381.2 265.0 140.5 127.6 4

 5 Banks in U.S.-affiliated areas -4.2 -3.3 -4.6 -4.9 -4.7 -5.3 -5.5 -5.8 -5.2 -5.3 -5.7 5

 6 Credit unions -68.1 -30.0 -51.9 -65.7 -63.5 -62.8 -63.8 -65.1 -61.7 -62.8 -63.2 6

 7 Total assets 1212.4 1043.8 1860.7 1663.8 2736.0 2834.3 2975.2 3013.5 3110.5 2834.3 2901.2 7

 8 Monetary authority 94.5 -1.2 -0.4 -0.4 -0.9 -0.4 -0.5 -0.4 -0.6 -0.4 -0.7 8

 9 U.S.-chartered depository institutions 716.3 628.5 859.5 869.6 1326.5 1519.2 1376.0 1404.6 1475.7 1519.2 1573.2 9

 10 Foreign banking offices in U.S. 284.1 350.8 711.0 638.8 948.1 888.8 1071.1 1068.7 1087.8 888.8 872.3 10

 11 Credit unions 31.5 41.5 52.6 53.8 48.1 45.7 62.0 47.5 39.0 45.7 59.6 11

 12 Rest of the world 86.0 24.2 238.1 102.1 414.2 381.1 466.6 493.1 508.5 381.1 396.8 12

 13 Discrepancy 3.0 24.8 28.3 20.1 76.9 -32.8 49.8 38.6 13.3 -32.8 -37.1 13

 Memo:

 Vault cash:

 14 Liab.: Monetary authority 54.9 52.7 60.8 71.1 73.6 75.7 64.8 64.9 64.7 75.7 67.8 14

 15 Asset: U.S.-chartered depository institutions 54.9 52.7 60.8 71.1 73.6 75.6 64.8 64.9 64.7 75.6 67.8 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 16

 Depository institution reserves:

 17 Liab.: Monetary authority 977.0 968.1 1562.3 1491.0 2249.1 2378.0 2444.3 2455.8 2537.8 2378.0 2437.3 17

 18 Asset: U.S.-chartered depository institutions 661.4 575.8 798.7 798.5 1252.9 1443.6 1311.3 1339.8 1411.1 1443.6 1505.4 18

 19 Foreign banking offices in U.S. 284.1 350.8 711.0 638.8 948.0 888.8 1071.0 1068.6 1087.8 888.8 872.3 19

 20 Credit unions 31.5 41.5 52.6 53.8 48.1 45.7 62.0 47.5 39.0 45.7 59.6 20

 Other transactions with the monetary authority

 21 Liab: U.S.-chartered depository institutions 94.5 -1.2 -0.4 -0.4 -0.9 -0.4 -0.5 -0.4 -0.6 -0.4 -0.7 21

 22 Asset: Monetary authority 94.5 -1.2 -0.4 -0.4 -0.9 -0.4 -0.5 -0.4 -0.6 -0.4 -0.7 22

 23 Federal Reserve float -2.1 -1.4 -0.6 -0.5 -1.0 -0.6 -0.5 -0.5 -0.9 -0.6 -0.7 23

 24 Loans to member banks 96.6 0.2 0.2 0.1 0.1 0.1 0.0 0.2 0.3 0.1 0.0 24

 Transactions with banks in foreign countries (net):

 25 Liab.: U.S.-chartered depository institutions (net) 498.6 420.1 110.9 23.0 176.5 272.0 190.5 202.7 277.1 272.0 305.5 25

 26 Due to foreign affiliates 803.3 824.8 602.6 403.6 507.3 516.5 500.6 481.1 549.6 516.5 530.9 26

 27 - Due from foreign affiliates 304.7 404.6 491.7 380.6 330.8 244.5 310.1 278.4 272.5 244.5 225.4 27

 28 Foreign banking offices in U.S. (net) -413.2 -376.1 135.9 84.3 242.2 117.8 278.6 295.8 239.0 117.8 100.0 28

 29 Due to foreign affiliates 787.3 841.2 1137.9 1047.9 1191.2 1067.6 1211.4 1240.8 1211.2 1067.6 1029.6 29

 30 - Due from foreign affiliates 1200.5 1217.3 1002.0 963.6 949.0 949.8 932.9 944.9 972.2 949.8 929.6 30

 31 Less: Deposits at foreign banks 21.7 35.3 22.9 20.3 20.0 21.4 20.5 21.3 21.3 21.4 19.9 31

 32 U.S.-chartered depository institutions 11.3 18.2 14.3 11.0 11.5 12.2 12.5 12.9 12.9 12.2 12.3 32

 33 Foreign banking offices in U.S. 10.4 17.0 8.6 9.3 8.5 9.2 8.0 8.4 8.4 9.2 7.6 33

 34 Plus: Loans from foreign banks 22.3 15.5 14.2 15.1 15.5 12.8 18.0 15.8 13.8 12.8 11.3 34

 35 U.S.-chartered depository institutions 9.7 6.3 6.7 6.4 6.4 4.1 6.8 5.5 4.6 4.1 4.0 35

 36 Foreign banking offices in U.S. 12.6 9.2 7.5 8.6 9.1 8.6 11.3 10.4 9.1 8.6 7.3 36

 37 Asset: Rest of the world (1) 86.0 24.2 238.1 102.1 414.2 381.1 466.6 493.1 508.5 381.1 396.8 37

 Transactions between U.S. depository institutions (net) (2):

 38 U.S.-chartered depository institutions (net) 42.2 21.3 62.1 18.7 57.2 12.0 29.0 26.2 55.0 12.0 3.9 38

 39 Due to (3): 109.3 91.2 112.9 122.0 174.1 62.9 153.1 148.7 109.4 62.9 55.4 39

 40 Foreign banking offices in U.S. 33.9 33.1 28.2 31.3 29.0 27.6 34.0 39.2 29.2 27.6 23.6 40

 41 Banks in U.S.-affiliated areas 4.2 3.3 4.6 4.9 4.7 5.3 5.5 5.8 5.2 5.3 5.7 41

 42 Credit unions 68.1 30.0 51.9 65.7 63.5 62.8 63.8 65.1 61.7 62.8 63.2 42

 43 - Due from: Foreign banking offices in U.S. 67.0 69.9 50.8 103.3 116.9 50.9 124.2 122.5 54.4 50.9 51.5 43

 44 Unallocated (2) 3.0 24.8 28.3 20.1 76.9 -32.8 49.8 38.6 13.3 -32.8 -37.1 44

(1) Sum of lines 25 and 28 less line 31 plus line 34.

(2) Interbank transactions between U.S. banks should net to zero and thus are not shown in lines 1 through 12 above. However, the unallocated amount (line 44), which is due to inconsistencies

 in source data, appears on line 13 as the discrepancy between liabilities and assets.

(3) Sum of lines 40, 41, 42, and 44.
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L.204 Checkable Deposits and Currency

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2093.4 2359.8 2594.3 2853.8 3186.5 3537.5 3183.8 3295.7 3356.9 3537.5 3437.9 1

 2 Monetary authority 1102.7 1287.8 1165.7 1224.6 1364.1 1516.4 1364.4 1374.2 1416.4 1516.4 1417.7 2

 3 Federal government cash and deposits 191.9 340.9 85.9 92.9 162.6 223.7 142.5 139.4 158.5 223.7 100.3 3

 4 Due to government-sponsored enterprises 35.1 13.5 64.6 27.2 25.9 20.2 10.8 11.2 26.9 20.2 20.9 4

 5 Deposits due to foreign 2.4 3.4 0.2 6.5 8.0 5.3 7.0 6.0 5.3 5.3 5.2 5

 6 Currency outside banks 873.3 930.0 1015.0 1098.1 1167.6 1267.3 1204.1 1217.6 1225.7 1267.3 1291.3 6

 7 U.S.-chartered depository institutions 871.6 941.1 1260.5 1431.7 1579.8 1716.1 1558.5 1649.1 1670.1 1716.1 1698.8 7

 8 Federal government deposits 3.8 3.6 1.0 1.3 1.6 2.5 1.7 1.8 2.1 2.5 2.5 8

 9 Deposits due to foreign 34.3 30.4 56.1 51.8 51.2 53.4 52.8 56.2 52.5 53.4 52.0 9

 10 Private domestic deposits 833.5 907.0 1203.5 1378.5 1527.1 1660.2 1504.0 1591.1 1615.5 1660.2 1644.3 10

 11 Foreign banking offices in U.S. 16.1 21.9 45.6 61.8 92.6 137.8 101.7 114.2 114.2 137.8 144.2 11

 12 Deposits due to foreign 10.5 14.6 19.0 27.9 40.2 54.2 44.3 52.1 54.1 54.2 60.3 12

 13 Private domestic deposits 5.6 7.3 26.6 33.9 52.4 83.6 57.3 62.1 60.1 83.6 83.8 13

 14 Banks in U.S.-affiliated areas 16.1 16.6 19.4 21.9 28.2 33.4 27.3 28.6 27.8 33.4 33.0 14

 15 Credit unions 86.9 92.4 103.1 113.9 121.7 133.9 131.9 129.6 128.4 133.9 144.3 15

 16 Total assets 2093.4 2359.8 2594.3 2853.8 3186.5 3537.5 3183.8 3295.7 3356.9 3537.5 3437.9 16

 17 Household sector 396.1 423.7 728.8 892.1 1013.6 1127.5 1059.9 1078.2 1060.6 1127.5 1154.2 17

 18 Nonfinancial business 689.3 766.1 816.8 830.6 918.2 1017.1 889.3 953.7 983.9 1017.1 1019.3 18

 19 Corporate 154.9 234.5 264.2 218.4 303.5 368.6 270.9 326.2 349.6 368.6 361.3 19

 20 Noncorporate 534.4 531.6 552.7 612.2 614.6 648.5 618.4 627.5 634.4 648.5 658.0 20

 21 Federal government 193.9 342.3 84.6 92.2 163.0 226.8 142.6 139.6 160.5 226.8 104.8 21

 22 State and local governments 99.0 104.6 121.3 117.4 124.8 140.7 121.8 121.0 123.1 140.7 130.0 22

 23 Domestic financial sectors 348.2 327.1 364.2 374.2 370.6 351.5 343.0 359.0 383.6 351.5 340.9 23

 24 Property-casualty insurance companies 27.6 32.6 24.1 36.4 29.7 35.6 33.4 34.8 35.7 35.6 35.4 24

 25 Life insurance companies 50.7 51.7 53.7 56.4 47.2 50.8 50.7 49.2 52.9 50.8 50.3 25

 26 Private pension funds 10.3 12.5 18.1 16.4 16.5 17.7 16.8 17.6 17.7 17.7 18.1 26

 27 State and local govt. retirement funds 3.6 4.2 4.5 4.6 4.6 5.0 4.5 5.3 5.3 5.0 5.1 27

 28 Money market mutual funds 17.9 14.2 20.1 16.5 13.3 -4.3 14.2 18.6 -3.1 -4.3 -9.8 28

 29 Government-sponsored enterprises 99.4 63.4 72.7 52.6 81.6 65.0 45.4 49.3 89.3 65.0 53.4 29

 30 Finance companies 17.0 26.5 31.7 27.8 32.1 31.9 32.9 32.3 31.1 31.9 32.3 30

 31 REITs 30.9 25.1 27.6 35.3 34.0 38.1 32.9 37.5 38.0 38.1 38.4 31

 32 Brokers and dealers 90.7 96.9 111.8 128.2 111.7 111.8 112.2 114.3 116.7 111.8 117.7 32

 33 Rest of the world 361.0 390.5 472.3 540.4 591.3 671.0 621.3 637.9 641.6 671.0 687.3 33

 34 Checkable deposits 47.2 48.4 75.2 86.2 99.4 112.8 104.2 114.3 111.9 112.8 117.6 34

 35 Currency 313.8 342.1 397.1 454.2 491.9 558.2 517.1 523.6 529.7 558.2 569.7 35

 36 Mail float 6.0 5.4 6.3 7.0 4.9 2.8 6.0 6.3 3.6 2.8 1.4 36
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L.205 Time and Savings Deposits 

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 8432.5 8548.1 8952.2 9463.7 9872.9 10448.7 10075.7 10139.3 10264.8 10448.7 10684.4 1

 2 Small time and savings deposits 6326.5 6624.9 7202.2 7803.9 8110.8 8475.8 8265.3 8290.7 8431.3 8475.8 8757.3 2

 3 U.S.-chartered depository institutions 5617.0 5888.6 6425.7 6979.2 7236.0 7579.8 7375.8 7397.2 7537.5 7579.8 7801.9 3

 4 Foreign banking offices in U.S. 29.9 35.7 48.9 62.7 90.4 84.5 84.5 87.3 89.7 84.5 126.4 4

 5 Banks in U.S.-affiliated areas 24.5 19.3 18.9 18.8 21.4 23.4 20.7 21.4 20.9 23.4 21.6 5

 6 Credit unions 655.2 681.3 708.7 743.1 763.1 788.1 784.3 784.8 783.3 788.1 807.4 6

 7 Large time deposits (1) 2105.9 1923.2 1750.0 1659.9 1762.0 1972.9 1810.4 1848.6 1833.5 1972.9 1927.1 7

 8 U.S.-chartered depository institutions 1029.9 896.1 882.9 803.0 826.9 929.3 815.4 847.4 745.9 929.3 925.2 8

 9 Foreign banking offices in U.S. 1024.2 977.7 814.6 798.4 869.5 971.8 927.8 934.4 1019.8 971.8 930.0 9

 10 Banks in U.S.-affiliated areas 24.5 19.3 18.9 18.8 21.4 23.4 20.7 21.4 20.9 23.4 21.6 10

 11 Credit unions 27.3 30.1 33.5 39.7 44.3 48.4 46.5 45.4 46.8 48.4 50.3 11

 12 Total assets 8432.5 8548.1 8952.2 9463.7 9872.9 10448.7 10075.7 10139.3 10264.8 10448.7 10684.4 12

 13 Household sector 6326.0 6450.8 6820.0 7187.1 7398.4 7867.4 7550.0 7573.4 7695.8 7867.4 8057.1 13

 14 Nonfinancial business 842.1 905.0 924.2 967.5 1019.4 1057.1 1040.0 1045.4 1019.0 1057.1 1083.5 14

 15 Corporate 488.8 548.7 561.9 595.2 636.2 646.9 655.0 655.1 624.8 646.9 654.2 15

 16 Noncorporate 353.3 356.2 362.2 372.3 383.1 410.2 385.0 390.3 394.2 410.2 429.3 16

 17 Federal government 1.9 2.0 1.7 2.0 1.5 1.7 1.5 1.5 1.6 1.7 1.6 17

 18 State and local governments 246.4 240.6 257.1 292.6 311.2 321.7 319.6 313.6 320.1 321.7 331.1 18

 19 Domestic financial sectors 716.8 641.5 593.6 621.1 697.2 709.0 703.2 709.6 736.2 709.0 714.2 19

 20 Private pension funds 32.1 31.4 33.0 29.1 28.8 29.8 29.3 30.0 29.7 29.8 30.5 20

 21 State and local govt. retirement funds 30.2 35.6 37.1 34.3 36.1 37.8 35.8 35.6 35.6 37.8 38.9 21

 22 Money market mutual funds 566.6 458.9 402.7 435.4 494.8 515.5 494.0 509.7 531.1 515.5 512.1 22

 23 Government-sponsored enterprises 25.7 26.1 13.4 4.3 5.4 3.3 7.9 5.9 5.4 3.3 1.9 23

 24 Finance companies 51.0 79.6 95.0 83.5 96.2 95.7 98.6 97.0 93.3 95.7 97.0 24

 25 Holding companies 11.2 10.0 12.4 34.4 35.9 27.0 37.5 31.4 41.0 27.0 33.8 25

 26 Rest of the world 299.2 308.2 355.6 393.4 445.1 491.8 461.4 495.7 492.1 491.8 496.9 26

(1) Large time deposits are those issued in amounts of $100,000 or more.

L.206 Money Market Mutual Fund Shares

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

 1 Total assets 3258.6 2755.4 2642.5 2649.6 2678.5 2688.1 2592.5 2522.4 2565.4 2688.1 2609.9 1

 2 Household sector 1312.9 1129.2 1109.9 1110.2 1135.7 1102.1 1099.2 1069.5 1087.7 1102.1 1030.9 2

 3 Nonfinancial corporate business 655.5 497.8 462.4 519.4 559.1 565.2 527.1 516.1 529.1 565.2 548.5 3

 4 Nonfinancial noncorporate business 73.7 76.8 77.7 80.7 83.0 87.3 83.4 84.6 85.4 87.3 88.7 4

 5 State and local governments 136.4 151.1 153.0 158.1 160.8 173.2 164.0 168.7 169.5 173.2 181.5 5

 6 Property-casualty insurance companies 29.6 25.6 20.0 22.3 20.1 18.3 17.7 19.0 19.4 18.3 18.2 6

 7 Life insurance companies 33.7 21.0 28.8 27.5 21.6 27.7 21.3 21.0 22.6 27.7 26.6 7

 8 Private pension funds 146.6 136.4 152.9 135.7 137.9 137.3 136.4 139.3 137.2 137.3 135.5 8

 9 State and local govt. retirement funds 41.2 43.6 44.0 40.6 43.2 45.5 42.6 42.6 42.0 45.5 46.3 9

 10 Funding corporations 752.1 604.1 519.5 458.1 408.8 420.8 393.5 355.2 364.7 420.8 423.5 10

 11 Rest of the world 76.9 69.8 74.4 96.9 108.2 110.8 107.3 106.4 107.7 110.8 110.3 11
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L.207 Federal Funds and Security Repurchase Agreements (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 3175.6 3597.9 3878.7 4130.1 3657.1 3699.8 3741.7 3780.5 3680.7 3699.8 3756.3 1

 2 Monetary authority 77.7 59.7 99.9 107.2 315.9 509.8 341.0 456.5 410.1 509.8 536.9 2

 3 U.S.-chartered depository institutions 532.1 484.0 402.5 349.9 269.4 236.2 283.2 271.9 249.9 236.2 228.7 3

 4 Federal funds (2) ND ND ND 69.4 58.3 38.7 64.7 64.7 55.0 38.7 28.7 4

 5 Security repurchase agreements ND ND ND 280.5 211.0 197.5 218.5 207.3 194.9 197.5 199.9 5

 6 Foreign banking offices in U.S. 195.2 250.0 304.4 325.0 312.7 371.3 356.5 366.5 375.4 371.3 369.9 6

 7 Federal funds (2) 109.7 34.0 24.1 21.5 18.8 27.2 26.4 24.2 33.7 27.2 38.5 7

 8 Security repurchase agreements 85.5 216.0 280.3 303.6 293.9 344.1 330.1 342.3 341.7 344.1 331.4 8

 9 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 Property-casualty insurance companies 0.6 1.5 0.4 0.8 2.2 3.2 2.5 2.8 3.0 3.2 3.3 10

 11 Life insurance companies 12.4 10.3 10.4 13.5 12.7 13.8 12.9 12.8 13.3 13.8 14.6 11

 12 Government-sponsored enterprises 1.2 1.3 0.4 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.1 12

 13 REITs 90.5 120.4 218.1 320.6 254.0 261.2 240.6 249.9 249.4 261.2 258.3 13

 14 Brokers and dealers 1810.4 2006.3 2076.7 2207.9 1768.6 1547.7 1712.6 1677.1 1606.3 1547.7 1535.3 14

 15 Holding companies 0.6 0.8 1.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 454.8 663.7 764.7 805.1 721.6 756.5 792.2 742.9 773.3 756.5 809.1 16

 17 Total assets 2969.4 3343.3 3553.5 3920.5 3609.3 3793.0 3661.2 3796.7 3715.7 3793.0 3812.6 17

 18 Nonfinancial corporate business 7.9 12.1 12.6 9.7 8.8 13.5 11.3 13.5 13.4 13.5 12.8 18

 19 State and local governments 126.3 125.7 120.8 125.3 127.9 138.2 130.6 134.4 135.2 138.2 145.0 19

 20 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20

 21 U.S.-chartered depository institutions 266.9 267.6 242.6 302.7 215.4 185.0 201.8 202.5 196.0 185.0 215.1 21

 22 Federal funds (2) ND ND ND 58.1 47.0 30.6 49.4 50.8 45.5 30.6 25.5 22

 23 Security repurchase agreements ND ND ND 244.6 168.4 154.4 152.4 151.7 150.5 154.4 189.7 23

 24 Foreign banking offices in U.S. 68.2 88.4 120.1 178.3 177.1 218.1 200.3 228.2 218.7 218.1 199.8 24

 25 Federal funds (2) 4.1 2.3 3.7 3.0 1.3 1.3 1.7 2.0 1.7 1.3 1.0 25

 26 Security repurchase agreements 64.1 86.2 116.4 175.3 175.8 216.9 198.5 226.2 217.1 216.9 198.7 26

 27 Credit unions 0.1 0.0 15.9 9.7 0.1 0.0 0.2 0.1 0.0 0.0 0.0 27

 28 Federal funds ND 0.0 15.9 9.6 0.0 0.0 0.2 0.0 0.0 0.0 0.0 28

 29 Security repurchase agreements ND 0.0 0.0 0.1 0.1 0.0 0.1 0.1 0.0 0.0 0.0 29

 30 Property-casualty insurance companies 4.5 3.8 1.7 1.8 1.8 1.8 1.6 1.7 1.8 1.8 1.7 30

 31 Life insurance companies 10.2 10.9 10.1 8.5 8.5 8.5 7.9 7.3 7.4 8.5 7.1 31

 32 Private pension funds 2.9 2.7 2.7 2.4 2.3 2.4 2.4 2.4 2.4 2.4 2.5 32

 33 State and local govt. retirement funds 3.0 3.4 3.4 3.2 3.4 3.5 3.3 3.3 3.3 3.5 3.6 33

 34 Money market mutual funds 480.0 479.4 490.5 544.7 493.4 644.6 506.5 564.0 575.8 644.6 625.9 34

 35 Mutual funds 153.3 137.5 108.7 262.8 355.7 402.0 381.9 424.0 395.2 402.0 406.6 35

 36 Government-sponsored enterprises 123.3 151.2 112.3 150.8 152.3 162.6 127.3 134.3 110.9 162.6 158.2 36

 37 Of which: FHLB federal funds (3) 54.6 75.9 41.1 44.0 29.5 52.8 45.5 35.5 39.8 52.8 42.5 37

 38 Brokers and dealers 1185.0 1428.5 1583.1 1638.2 1321.0 1152.7 1273.3 1230.3 1220.4 1152.7 1138.8 38

 39 Holding companies 48.2 50.3 50.5 10.5 7.7 2.5 7.6 9.5 8.2 2.5 5.8 39

 40 Funding corporations 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

 41 Rest of the world 489.4 581.8 678.5 671.9 734.1 857.4 805.5 841.2 826.8 857.4 889.6 41

 42 Discrepancy 206.2 254.6 325.2 209.6 47.8 -93.2 80.4 -16.2 -34.9 -93.2 -56.3 42

 Memo:

 Federal Reserve’s reverse repurchase agreement operations: (4)

 43 Liability: Monetary authority (5) 0.0 0.0 0.0 0.0 197.8 396.7 242.1 339.5 300.0 396.7 378.5 43

 44 Asset: Money market mutual funds (6) 0.0 0.0 0.0 0.0 163.3 371.2 222.0 305.5 294.4 371.2 345.3 44

 45 Other financial institutions (7) 0.0 0.0 0.0 0.0 34.5 25.5 20.1 34.0 5.6 25.5 33.2 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 32.

(7) Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
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114 Z.1, June 11, 2015

L.208 Open Market Paper

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total outstanding, all types 1138.0 1057.6 969.3 952.4 951.6 930.4 992.2 1005.5 996.1 930.4 952.1 1

 2 Commercial paper 1137.4 1057.5 969.2 952.4 951.6 930.4 992.2 1005.5 996.1 930.4 952.1 2

 3 Nonfinancial corporate business 58.4 82.9 116.3 130.3 144.5 182.4 180.2 185.9 208.5 182.4 187.6 3

 4 Foreign issues in U.S. 401.3 398.6 345.1 373.0 407.0 384.3 413.8 435.1 390.7 384.3 414.7 4

 5 Nonfinancial 34.5 30.6 30.2 40.4 51.6 45.1 49.6 62.0 64.6 45.1 49.7 5

 6 Financial 366.8 368.0 314.9 332.6 355.4 339.3 364.3 373.1 326.1 339.3 365.0 6

 7 Financial business 677.6 575.9 507.8 449.1 400.2 363.6 398.2 384.5 396.9 363.6 349.8 7

 8 U.S.-chartered depository institutions 0.0 112.9 120.6 87.5 59.7 54.5 58.4 56.0 54.7 54.5 49.0 8

 9 ABS issuers 293.1 120.2 96.0 87.0 79.9 64.8 73.7 70.8 70.4 64.8 63.5 9

 10 Finance companies 62.1 111.0 121.0 129.1 118.8 117.8 114.0 109.8 115.8 117.8 113.8 10

 11 REITs 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 Holding companies 60.8 64.7 75.9 116.4 96.6 77.0 89.7 91.3 81.9 77.0 70.0 12

 13 Funding corporations 261.7 167.1 94.3 29.0 45.2 49.6 62.4 56.6 74.1 49.6 53.5 13

 14 Bankers’ acceptances (1) 0.6 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 U.S.-chartered depository institutions 0.6 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holdings, by sector 1138.0 1057.6 969.3 952.4 951.6 930.4 992.2 1005.5 996.1 930.4 952.1 17

 18 Household sector 22.7 21.1 19.4 18.8 15.0 14.9 15.9 16.1 15.9 14.9 15.2 18

 19 Nonfinancial corporate business 56.0 68.0 67.9 59.5 38.2 31.6 35.1 29.2 30.0 31.6 31.0 19

 20 State and local governments 89.2 102.7 90.4 83.1 74.3 69.3 73.2 72.7 70.4 69.3 69.9 20

 21 Monetary authority 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 U.S.-chartered depository institutions (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22

 23 Foreign banking offices in U.S. (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 23

 24 Credit unions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Property-casualty insurance companies 9.8 7.9 8.8 7.4 8.1 7.9 7.2 7.9 8.2 7.9 7.9 25

 26 Life insurance companies 49.8 40.9 29.7 43.6 46.7 42.2 43.6 41.0 40.3 42.2 43.2 26

 27 Private pension funds 42.2 40.2 42.6 37.7 34.4 36.2 35.5 36.2 36.1 36.2 37.7 27

 28 State and local govt. retirement funds 37.4 41.9 43.4 40.0 42.3 44.1 42.6 42.0 42.4 44.1 46.2 28

 29 Money market mutual funds 510.5 394.2 354.2 340.8 352.0 333.5 354.7 341.2 331.6 333.5 341.8 29

 30 Mutual funds 80.2 66.3 40.0 77.5 105.2 120.6 113.9 127.9 118.3 120.6 122.1 30

 31 Government-sponsored enterprises 9.7 9.9 6.5 3.4 4.4 6.0 4.8 5.7 6.0 6.0 5.6 31

 32 Brokers and dealers 41.5 36.2 42.1 29.9 28.7 20.8 34.4 32.4 20.9 20.8 21.7 32

 33 Funding corporations 71.8 126.2 121.7 107.9 100.7 95.5 125.0 136.1 156.5 95.5 93.0 33

 34 Rest of the world 117.2 102.1 102.7 102.8 101.7 107.9 106.4 117.3 119.4 107.9 116.8 34

(1) Excludes banks’ holdings of own acceptances.
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L.209 Treasury Securities

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 7781.9 9361.5 10428.3 11568.9 12328.3 12995.6 12590.8 12544.4 12755.6 12995.6 13062.6 1

 2 U.S. savings securities (1) 191.3 188.0 185.3 182.5 179.2 176.0 178.4 177.7 176.8 176.0 175.0 2

 3 Treasury bills 1787.9 1768.9 1519.5 1626.5 1590.6 1456.7 1650.2 1386.4 1409.6 1456.7 1476.5 3

 4 Other Treasury securities 5802.7 7404.6 8723.6 9759.9 10558.5 11362.9 10762.2 10980.3 11169.2 11362.9 11411.1 4

 5 Total assets 7781.9 9361.5 10428.3 11568.9 12328.3 12995.6 12590.8 12544.4 12755.6 12995.6 13062.6 5

 6 Household sector 853.3 1122.6 717.0 943.1 956.6 696.7 900.4 721.1 704.9 696.7 640.2 6

 7 U.S. savings securities (1) 191.3 188.0 185.3 182.5 179.2 176.0 178.4 177.7 176.8 176.0 175.0 7

 8 Bills and other Treasury securities 662.0 934.6 531.7 760.6 777.4 520.8 722.1 543.4 528.1 520.8 465.2 8

 9 Nonfinancial corporate business 43.0 48.0 43.0 39.4 42.8 38.3 40.8 40.6 40.0 38.3 39.6 9

 10 Nonfinancial noncorporate business 46.1 48.1 48.9 52.9 54.5 57.2 54.7 55.5 56.0 57.2 58.2 10

 11 State and local governments 586.4 595.8 560.8 606.1 592.2 660.8 602.4 630.2 631.6 660.8 710.5 11

 12 Monetary authority 776.6 1021.5 1663.4 1666.1 2208.8 2461.4 2319.6 2400.6 2451.7 2461.4 2459.6 12

 13 Treasury bills 18.4 18.4 18.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Other Treasury securities 758.2 1003.1 1645.0 1666.1 2208.8 2461.4 2319.6 2400.6 2451.7 2461.4 2459.6 14

 15 U.S.-chartered depository institutions 124.5 217.5 173.9 243.2 217.1 420.4 263.8 297.7 359.0 420.4 421.3 15

 16 Foreign banking offices in U.S. 57.5 60.9 60.5 76.6 67.0 56.5 66.3 65.6 60.4 56.5 55.7 16

 17 Banks in U.S.-affiliated areas 0.5 1.1 1.0 0.4 1.2 1.3 1.3 0.8 1.3 1.3 1.5 17

 18 Credit unions 14.2 20.1 17.6 19.3 19.1 21.6 20.4 21.3 26.2 21.6 22.2 18

 19 Property-casualty insurance companies 88.5 91.7 96.4 89.7 96.1 102.0 94.7 98.1 101.2 102.0 101.6 19

 20 Treasury bills 15.8 15.5 17.4 14.1 23.5 26.8 21.8 24.9 26.8 26.8 26.7 20

 21 Other Treasury securities 72.8 76.2 78.9 75.6 72.6 75.2 72.9 73.3 74.3 75.2 74.8 21

 22 Life insurance companies 133.5 156.6 175.4 180.9 168.6 182.9 172.0 175.5 178.9 182.9 193.3 22

 23 Treasury bills 13.9 10.2 14.0 9.5 6.7 8.7 6.6 6.5 7.0 8.7 8.3 23

 24 Other Treasury securities 119.6 146.4 161.4 171.4 162.0 174.3 165.4 168.9 171.8 174.3 185.0 24

 25 Private pension funds 175.6 206.9 233.8 278.2 314.6 334.2 318.4 323.0 329.4 334.2 344.9 25

 26 Federal government retirement funds 119.9 130.0 153.5 165.6 178.0 196.1 181.0 183.1 188.4 196.1 136.6 26

 27 State and local govt. retirement funds 161.9 172.5 181.8 194.7 207.3 216.1 208.1 209.1 211.5 216.1 224.9 27

 28 Money market mutual funds 406.4 335.4 443.3 457.8 488.0 412.7 456.4 370.5 391.5 412.7 434.5 28

 29 Treasury bills 318.5 234.5 263.7 282.8 289.4 240.9 266.2 183.8 231.5 240.9 222.1 29

 30 Other Treasury securities 87.9 100.9 179.7 175.0 198.6 171.8 190.2 186.7 160.0 171.8 212.4 30

 31 Mutual funds 258.0 380.9 446.7 567.5 622.5 742.0 658.9 679.9 715.1 742.0 795.2 31

 32 Treasury bills 0.0 35.6 32.4 44.1 34.6 34.1 40.4 29.0 29.3 34.1 24.7 32

 33 Other Treasury securities 258.0 345.4 414.4 523.4 587.9 708.0 618.4 650.9 685.8 708.0 770.5 33

 34 Closed-end funds 4.4 5.1 4.8 5.2 5.7 5.5 5.8 5.9 5.8 5.5 5.4 34

 35 Exchange-traded funds 41.8 51.0 62.4 63.6 57.1 70.1 59.3 63.0 64.4 70.1 73.2 35

 36 Government-sponsored enterprises 36.6 82.6 100.2 69.0 59.1 64.3 65.2 64.5 65.0 64.3 71.8 36

 37 ABS issuers 53.9 40.1 29.2 23.4 24.3 25.1 25.0 24.1 25.0 25.1 24.3 37

 38 Brokers and dealers 123.0 94.5 183.6 246.5 136.0 60.2 108.0 80.0 56.0 60.2 63.7 38

 39 Holding companies 5.8 19.6 26.8 8.2 16.6 13.9 16.5 21.8 23.9 13.9 10.2 39

 40 Rest of the world 3670.6 4458.8 5004.4 5571.5 5794.9 6156.2 5951.8 6012.5 6068.4 6156.2 6174.4 40

 41 Treasury bills 750.4 710.3 647.7 661.7 686.0 671.6 689.3 626.8 614.1 671.6 702.0 41

 42 Other Treasury securities 2920.2 3748.5 4356.7 4909.8 5108.9 5484.5 5262.5 5385.7 5454.3 5484.5 5472.3 42

 Memo:

 43 Federal government debt (2) 7805.4 9385.6 10453.6 11593.7 12352.8 13019.9 12614.8 12568.4 12779.4 13019.9 13086.7 43

(1) Includes U.S. savings bonds, U.S. individual retirement bonds, U.S. retirement plan bonds, U.S. savings stamps, and matured U.S. savings securities.

(2) Total Treasury securities (line 1) plus budget agency securities (table L.210, line 2) and federal mortgage debt (table L.217, line 11).
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L.210 Agency- and GSE-Backed Securities (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 8106.8 7598.2 7577.4 7554.6 7794.1 7944.6 7721.1 7774.6 7833.7 7944.6 7901.2 1

 2 Budget agencies 23.5 24.2 25.3 24.9 24.5 24.4 24.0 24.0 23.9 24.4 24.1 2

 3 Government-sponsored enterprises 2706.6 6434.5 6247.3 6092.7 6200.2 6275.5 6111.4 6150.6 6186.2 6275.5 6234.6 3

 4 Agency- and GSE-backed mortgage pools 5376.7 1139.5 1304.8 1437.0 1569.4 1644.7 1585.8 1600.0 1623.6 1644.7 1642.5 4

 5 Total assets 8106.8 7598.2 7577.4 7554.6 7794.1 7944.6 7721.1 7774.6 7833.7 7944.6 7901.2 5

 6 Household sector 356.4 334.2 299.3 176.8 141.1 41.3 55.6 60.8 43.8 41.3 42.6 6

 7 Nonfinancial corporate business 14.3 16.0 14.3 13.1 10.3 12.8 11.6 13.5 13.3 12.8 13.2 7

 8 Federal government 196.4 149.2 31.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 State and local governments 491.2 516.8 502.2 484.5 458.6 443.6 451.8 451.1 444.7 443.6 439.3 9

 10 Monetary authority 1068.3 1139.6 941.7 1003.4 1547.4 1775.5 1650.5 1707.6 1736.4 1775.5 1768.8 10

 11 U.S.-chartered depository institutions 1417.4 1527.2 1634.1 1669.6 1717.3 1760.3 1731.0 1735.9 1758.2 1760.3 1815.0 11

 12 Foreign banking offices in U.S. 31.3 26.5 30.6 32.1 25.4 20.5 22.5 20.9 20.5 20.5 19.3 12

 13 Banks in U.S.-affiliated areas 20.5 12.8 4.8 2.6 1.9 1.7 1.8 1.8 1.8 1.7 1.5 13

 14 Credit unions 110.7 151.5 182.1 197.0 199.2 187.5 202.0 201.0 193.6 187.5 189.2 14

 15 Property-casualty insurance companies 116.2 115.8 122.7 114.3 109.5 105.2 107.9 106.5 106.0 105.2 104.8 15

 16 Life insurance companies 371.9 376.0 374.4 360.9 354.1 339.1 351.0 348.4 344.5 339.1 338.6 16

 17 Private pension funds 177.5 184.0 188.2 210.4 225.8 224.7 224.4 228.5 226.8 224.7 223.6 17

 18 Federal government retirement funds 5.2 5.8 6.5 8.1 6.4 6.0 5.7 5.8 5.8 6.0 6.0 18

 19 State and local govt. retirement funds 168.8 169.6 180.7 192.1 199.0 194.1 198.4 200.4 203.1 194.1 184.0 19

 20 Money market mutual funds 543.0 402.8 403.7 343.5 361.3 384.6 324.8 327.8 346.5 384.6 323.4 20

 21 Mutual funds 603.2 679.6 794.6 883.8 859.8 829.6 844.3 808.0 815.9 829.6 820.3 21

 22 Government-sponsored enterprises 924.5 377.0 358.9 310.6 287.9 295.7 283.6 285.6 290.3 295.7 292.6 22

 23 ABS issuers 99.6 3.6 0.3 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.1 23

 24 REITs 105.2 143.4 248.1 357.6 261.9 269.8 253.1 264.1 258.8 269.8 261.4 24

 25 Brokers and dealers 110.9 149.8 147.7 169.6 114.2 121.9 113.3 114.2 106.7 121.9 124.3 25

 26 Holding companies 24.3 21.1 33.1 22.9 28.0 28.0 26.1 26.4 27.2 28.0 31.0 26

 27 Rest of the world 1150.0 1095.8 1078.2 1001.2 885.3 902.6 861.7 866.0 889.6 902.6 902.4 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 in table L.209, line 43.
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L.211 Municipal Securities and Loans

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 3672.5 3772.1 3719.4 3714.4 3671.2 3652.4 3660.8 3661.4 3631.1 3652.4 3694.0 1

 2 State and local governments 2954.9 3023.6 2970.0 2964.3 2924.9 2910.9 2915.5 2918.0 2891.8 2910.9 2945.9 2

 3 Short-term (1) 63.6 63.0 52.3 56.1 45.3 38.6 43.0 33.6 37.0 38.6 38.1 3

 4 Long-term 2891.3 2960.6 2917.6 2908.2 2879.6 2872.3 2872.5 2884.4 2854.8 2872.3 2907.9 4

 5 Nonprofit organizations (2) 265.4 263.2 255.5 241.0 227.8 223.1 227.6 227.0 224.6 223.1 223.0 5

 6 Nonfinancial corporate business 452.2 485.4 493.9 509.1 518.5 518.4 517.7 516.4 514.8 518.4 525.1 6

 (industrial revenue bonds)

 7 Total assets 3672.5 3772.1 3719.4 3714.4 3671.2 3652.4 3660.8 3661.4 3631.1 3652.4 3694.0 7

 8 Household sector 1827.9 1871.4 1805.7 1661.2 1605.9 1540.0 1602.4 1600.7 1552.7 1540.0 1554.4 8

 9 Nonfinancial corporate business 27.1 23.9 22.3 22.9 21.8 13.2 18.2 16.1 13.2 13.2 15.0 9

 10 Nonfinancial noncorporate business 5.1 5.6 5.9 6.1 6.3 6.6 6.3 6.4 6.4 6.6 6.7 10

 11 State and local governments 11.5 12.9 13.1 13.4 13.4 14.3 13.6 14.0 14.0 14.3 14.9 11

 12 U.S.-chartered depository institutions 224.3 254.6 297.3 365.0 418.9 451.5 425.2 429.9 440.4 451.5 465.1 12

 13 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Banks in U.S.-affiliated areas 3.5 2.5 3.4 2.6 3.6 2.7 3.4 2.7 2.6 2.7 2.7 14

 15 Credit unions 0.0 0.0 3.2 4.2 4.6 3.8 4.5 4.9 5.0 3.8 3.9 15

 16 Property-casualty insurance companies 369.4 348.4 331.0 328.1 326.4 321.7 323.8 321.5 322.1 321.7 320.3 16

 17 Life insurance companies 73.1 112.3 121.8 131.5 141.6 147.8 142.9 145.3 147.0 147.8 148.1 17

 18 State and local govt. retirement funds 1.5 2.3 1.7 1.9 2.7 2.0 2.3 2.1 2.0 2.0 2.0 18

 19 Money market mutual funds 440.1 386.7 357.3 336.7 308.3 281.7 296.4 281.4 278.7 281.7 273.5 19

 20 Mutual funds 478.8 525.5 541.2 627.4 613.9 657.7 618.2 630.4 643.2 657.7 672.5 20

 21 Closed-end funds 81.2 81.6 82.5 85.9 84.3 84.8 85.2 85.8 84.2 84.8 84.6 21

 22 Exchange-traded funds 5.9 7.6 8.6 12.3 11.4 14.6 11.8 12.6 13.4 14.6 16.0 22

 23 Government-sponsored enterprises 29.1 24.9 21.0 17.0 13.4 10.8 12.7 12.2 11.4 10.8 9.9 23

 24 Brokers and dealers 35.4 40.0 30.9 26.6 18.6 18.9 16.9 18.2 16.2 18.9 20.6 24

 25 Rest of the world 58.7 71.7 72.4 71.8 76.1 80.5 76.9 77.3 78.6 80.5 83.7 25

(1) Debt with original maturity of 13 months or less.

(2) Liability of the households and nonprofit organizations sector (tables F.100 and L.100).
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L.212 Corporate and Foreign Bonds

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 10381.4 10336.8 10424.7 10918.6 11111.0 11586.5 11237.1 11457.7 11529.2 11586.5 11702.2 1

 2 Nonfinancial corporate business 3197.0 3376.3 3538.3 3861.8 4141.5 4406.4 4213.2 4272.1 4321.7 4406.4 4518.9 2

 3 Domestic financial sectors 5736.7 5282.9 4972.8 4870.3 4719.0 4760.6 4714.0 4738.7 4744.2 4760.6 4742.4 3

 4 U.S.-chartered depository institutions 176.3 377.1 379.4 295.9 221.0 209.0 214.2 211.7 208.7 209.0 194.6 4

 5 ABS issuers (net) (1) 2999.1 2115.7 1893.0 1682.4 1402.0 1320.8 1357.0 1330.7 1323.6 1320.8 1296.2 5

 6 Finance companies 837.5 1078.2 1038.8 957.5 961.9 981.3 959.3 968.9 969.6 981.3 995.1 6

 7 REITs 144.4 145.4 152.9 179.6 353.2 407.4 382.1 395.9 405.9 407.4 410.3 7

 8 Brokers and dealers 92.9 129.7 91.8 90.2 112.4 123.9 122.7 113.4 123.9 123.9 107.4 8

 9 Holding companies 1028.7 982.2 890.6 1103.2 1095.6 1123.2 1107.6 1129.4 1125.9 1123.2 1118.8 9

 10 Funding corporations 457.8 454.6 526.2 561.5 572.9 595.1 571.0 588.8 586.7 595.1 620.0 10

 11 Rest of the world (2) 1447.8 1677.6 1913.6 2186.5 2250.4 2419.5 2309.8 2446.9 2463.3 2419.5 2441.0 11

 12 Total assets (3) 10381.4 10336.8 10424.7 10918.6 11111.0 11586.5 11237.1 11457.7 11529.2 11586.5 11702.2 12

 13 Household sector 1548.5 1361.1 1355.3 1235.4 976.9 874.9 932.9 952.4 953.1 874.9 876.1 13

 14 Federal government 0.6 0.9 0.8 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 14

 15 State and local governments 157.1 165.5 163.1 166.1 166.5 176.9 169.3 173.6 173.8 176.9 184.7 15

 16 U.S.-chartered depository institutions 668.2 550.5 553.0 544.0 559.2 521.7 540.2 540.7 520.1 521.7 522.4 16

 17 MBS and other ABS 262.9 174.9 150.1 149.1 147.7 139.1 141.9 143.1 139.1 139.1 137.8 17

 18 Other 405.2 375.6 402.9 394.9 411.4 382.6 398.3 397.6 381.0 382.6 384.7 18

 19 Foreign banking offices in U.S. 247.6 238.2 236.7 230.5 196.4 197.3 200.5 200.8 198.9 197.3 190.8 19

 20 Banks in U.S.-affiliated areas 2.0 0.6 4.2 5.2 5.8 5.3 6.4 6.3 5.7 5.3 5.4 20

 21 Credit unions 22.3 6.6 6.3 6.7 8.9 9.9 9.5 9.6 8.8 9.9 11.1 21

 22 MBS and other ABS 3.6 6.1 5.9 6.6 8.7 9.7 9.3 9.4 8.7 9.7 11.0 22

 23 Other 18.6 0.5 0.4 0.1 0.2 0.2 0.2 0.2 0.1 0.2 0.2 23

 24 Property-casualty insurance companies 298.3 322.6 363.1 382.7 410.8 427.7 413.2 415.9 422.4 427.7 425.8 24

 25 MBS and other ABS 0.0 0.0 71.3 74.5 82.7 92.0 85.0 87.3 89.6 92.0 91.4 25

 26 Other 298.3 322.6 291.8 308.2 328.0 335.7 328.2 328.7 332.8 335.7 334.4 26

 27 Life insurance companies 1927.2 2030.2 2117.3 2162.2 2223.0 2292.3 2246.2 2273.7 2289.5 2292.3 2308.6 27

 28 MBS and other ABS 0.0 0.0 434.9 410.6 419.7 435.5 423.5 427.5 431.5 435.5 433.3 28

 29 Other 1927.2 2030.2 1682.3 1751.6 1803.3 1856.8 1822.7 1846.2 1858.0 1856.8 1875.3 29

 30 Private pension funds 356.4 438.5 483.0 566.8 572.3 585.3 567.6 577.0 582.8 585.3 587.9 30

 31 Federal government retirement funds 5.7 5.9 7.3 9.0 7.7 7.0 6.9 7.0 6.9 7.0 7.3 31

 32 State and local govt. retirement funds 391.1 397.0 383.8 366.9 424.6 454.2 428.7 435.0 450.5 454.2 454.3 32

 33 Money market mutual funds 169.9 154.2 105.1 102.1 102.0 78.3 88.8 66.4 71.1 78.3 67.5 33

 34 Mutual funds 1120.7 1243.0 1413.4 1719.4 1998.8 2317.7 2067.5 2180.8 2240.9 2317.7 2411.2 34

 35 Closed-end funds 55.6 59.7 57.3 64.8 79.4 75.4 78.7 78.7 77.8 75.4 75.3 35

 36 Exchange-traded funds 55.4 74.1 107.7 155.3 174.8 209.6 183.2 190.7 194.7 209.6 224.4 36

 37 Government-sponsored enterprises 296.0 266.5 235.7 185.7 126.3 95.4 120.1 109.4 101.4 95.4 85.8 37

 38 MBS and other ABS 288.2 241.6 209.5 178.3 119.4 89.3 113.4 102.9 95.1 89.3 79.8 38

 39 Other 7.9 24.8 26.2 7.4 6.8 6.2 6.7 6.5 6.3 6.2 6.0 39

 40 Finance companies 198.6 84.1 85.0 78.7 67.9 74.0 71.8 72.5 69.9 74.0 76.1 40

 41 REITs 16.0 23.2 27.0 36.5 36.3 39.7 37.8 37.2 38.1 39.7 44.2 41

 42 Brokers and dealers 154.4 189.5 104.5 140.0 128.9 115.5 128.1 135.2 134.1 115.5 108.0 42

 43 Holding companies 31.1 38.3 18.3 72.7 31.5 34.1 29.8 31.2 37.6 34.1 29.2 43

 44 Funding corporations 175.3 163.4 105.8 69.6 78.4 83.1 90.5 85.7 84.6 83.1 86.6 44

 45 Rest of the world (4) 2483.5 2523.1 2491.0 2617.6 2734.0 2910.7 2818.7 2877.6 2866.1 2910.7 2918.9 45

 46 MBS and other ABS 484.8 441.4 415.5 403.9 394.9 391.0 393.3 396.0 387.5 391.0 390.4 46

 47 Other 1998.7 2081.7 2075.6 2213.6 2339.1 2519.7 2425.4 2481.5 2478.6 2519.7 2528.5 47

(1) Liabilities net of assets.

(2) Holdings of foreign issues by U.S. residents.

(3) For some sectors, holdings of MBS and other ABS are shown separately. MBS and other ABS include privately issued mortgage-backed securities and other privately issued asset-backed bonds.

(4) Holdings of U.S. issues by foreign residents.
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L.213 Corporate Equities (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Issues at market value 20085.5 23552.5 22940.5 26204.7 33629.1 36256.3 34109.2 35723.8 35025.1 36256.3 36834.8 1

 2 Nonfinancial corporate business 12512.2 14356.5 14369.4 15961.6 20718.3 22283.4 20921.0 21891.0 21444.5 22283.4 22443.9 2

 3 Financial corporations 3578.1 4295.7 4069.7 4931.6 6466.5 7287.7 6594.3 6805.6 6811.6 7287.7 7397.0 3

 4 Rest of the world (2) 3995.3 4900.2 4501.4 5311.5 6444.2 6685.2 6593.9 7027.2 6769.1 6685.2 6993.9 4

 5 Holdings at market value 20085.5 23552.5 22940.5 26204.7 33629.1 36256.3 34109.2 35723.8 35025.1 36256.3 36834.8 5

 6 Household sector 7255.8 8696.2 8498.4 9676.3 12501.8 13360.7 12580.0 13307.1 12777.4 13360.7 13640.8 6

 7 Federal government 67.4 49.9 57.8 39.9 35.1 33.4 34.9 34.7 33.6 33.4 33.3 7

 8 State and local governments 112.0 126.9 124.6 138.5 163.6 178.3 166.4 172.6 172.3 178.3 183.7 8

 9 Monetary authority 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 U.S.-chartered depository institutions 63.6 73.6 67.4 71.3 101.3 108.5 102.6 109.2 105.4 108.5 109.0 10

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

 12 Property-casualty insurance companies 215.6 214.8 220.8 252.2 310.4 325.4 312.8 318.6 319.1 325.4 320.3 12

 13 Life insurance companies 1208.5 1371.6 1355.5 1502.7 1743.4 1798.4 1764.5 1808.7 1770.3 1798.4 1828.9 13

 14 Private pension funds 1568.3 1849.1 1751.1 1973.6 2407.9 2587.0 2448.7 2532.2 2507.9 2587.0 2615.1 14

 15 Federal government retirement funds 116.8 140.9 134.4 148.1 206.2 235.2 211.8 221.8 224.8 235.2 242.6 15

 16 State and local govt. retirement funds 1751.3 1930.1 1843.3 2019.1 2432.6 2419.7 2415.9 2470.6 2408.7 2419.7 2415.9 16

 17 Mutual funds 4136.2 4762.7 4427.2 5109.4 6851.8 7392.1 7030.1 7364.8 7233.0 7392.1 7533.2 17

 18 Closed-end funds 87.4 96.7 95.9 100.6 114.2 119.3 117.3 124.0 123.5 119.3 118.4 18

 19 Exchange-traded funds 670.0 854.1 863.8 1093.3 1427.3 1675.0 1449.9 1555.9 1552.0 1675.0 1741.5 19

 20 Brokers and dealers 124.2 117.2 103.2 126.7 172.4 187.8 153.1 167.7 176.9 187.8 162.9 20

 21 Funding corporations 25.1 26.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 21

 22 Rest of the world (3) 2658.4 3216.0 3397.2 3953.0 5161.3 5835.5 5321.1 5536.0 5620.4 5835.5 5889.2 22

 Memo:

 23 Percent change in Dow Jones U.S. Total Market Index (4) 25.7 15.3 -0.9 13.9 30.9 10.4 1.5 4.3 -0.5 4.7 1.3 23

(1) Excludes mutual fund shares shown on table L.214.

(2) Holdings of foreign corporate equities and investment fund shares by U.S. residents; includes American Depositary Receipts (ADRs).

(3) Holdings of U.S. issues by foreign residents.

(4) Annual figures calculated from year-end to year-end.

L.214 Mutual Fund Shares (1)

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

 1 Shares at market value 6920.7 7873.0 7870.9 9326.1 11544.4 12603.6 11899.2 12374.8 12343.7 12603.6 12903.8 1

 2 Holdings at market value 6920.7 7873.0 7870.9 9326.1 11544.4 12603.6 11899.2 12374.8 12343.7 12603.6 12903.8 2

 3 Household sector 4100.4 4605.0 4622.5 5630.4 7023.0 7695.3 7292.8 7579.3 7553.1 7695.3 7918.8 3

 4 Nonfinancial corporate business 162.0 186.8 165.9 179.6 211.0 234.9 217.1 226.5 227.6 234.9 240.5 4

 5 State and local governments 48.5 58.7 59.0 66.2 79.1 86.7 80.6 83.8 83.6 86.7 89.5 5

 6 U.S.-chartered depository institutions 46.1 45.0 41.7 45.8 57.9 59.7 60.8 64.7 59.8 59.7 59.4 6

 7 Credit unions 1.3 1.5 1.9 2.3 2.2 2.1 2.2 2.1 2.1 2.1 2.0 7

 8 Property-casualty insurance companies 9.5 10.2 9.1 11.8 14.8 16.8 15.3 16.0 16.2 16.8 17.5 8

 9 Life insurance companies 140.8 186.7 184.8 201.7 235.8 246.4 238.6 245.1 242.5 246.4 248.7 9

 10 Private pension funds 1887.6 2148.9 2120.5 2385.6 2974.8 3231.7 3030.6 3141.2 3137.8 3231.7 3278.7 10

 11 State and local govt. retirement funds 342.0 370.1 295.2 307.3 393.7 406.1 395.8 404.6 397.8 406.1 407.9 11

 12 Rest of the world 182.4 260.0 370.4 495.4 552.0 623.9 565.6 611.6 623.3 623.9 640.7 12

(1) Shares of open-end investment companies; excludes shares of money market mutual funds, exchange-traded funds, and funding vehicles for variable annuities.
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L.215 Depository Institution Loans Not Elsewhere Classified (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2035.9 2001.2 2147.8 2322.7 2508.8 2816.7 2560.7 2652.4 2695.8 2816.7 2893.9 1

 2 Household sector -15.9 61.0 11.5 62.6 92.7 212.9 123.0 168.4 186.7 212.9 235.1 2

 3 Corporate business 545.8 477.1 569.2 658.4 708.3 794.1 719.3 748.6 762.3 794.1 811.9 3

 4 Noncorporate business 944.2 927.4 960.9 1021.7 1067.9 1139.0 1067.1 1097.8 1104.4 1139.0 1163.3 4

 5 Domestic financial sectors 424.2 373.6 400.8 342.3 363.2 365.4 360.8 333.1 345.5 365.4 368.2 5

 6 Finance companies 144.5 91.5 102.1 118.5 128.6 139.1 125.2 123.0 130.2 139.1 140.5 6

 7 REITs 20.2 18.4 23.0 27.0 24.0 32.1 27.0 24.0 27.4 32.1 35.9 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 0.0 8

 9 Holding companies 164.2 190.3 254.3 196.8 210.6 194.2 208.6 186.2 187.9 194.2 191.8 9

 10 Funding corporations 95.3 73.4 21.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 10

 11 Rest of the world 137.5 162.0 205.2 237.7 276.7 305.3 290.5 304.5 296.9 305.3 315.4 11

 12 Foreign official institutions 4.5 6.6 5.4 6.2 7.1 8.2 6.4 7.5 7.4 8.2 9.2 12

 13 Foreign banks 37.4 53.0 69.8 70.4 90.5 89.8 92.0 98.7 89.3 89.8 91.2 13

 14 Other foreign 95.6 102.4 130.0 161.0 179.1 207.3 192.0 198.4 200.3 207.3 215.0 14

 15 Total assets 2035.9 2001.2 2147.8 2322.7 2508.8 2816.7 2560.7 2652.4 2695.8 2816.7 2893.9 15

 16 Monetary authority (2) 142.8 98.1 30.5 0.6 0.1 0.0 0.1 0.0 0.0 0.0 0.0 16

 17 U.S.-chartered depository institutions 1404.8 1425.9 1589.6 1797.1 1933.5 2175.1 1969.6 2050.8 2086.8 2175.1 2225.3 17

 18 Foreign banking offices in U.S. 435.5 424.2 467.1 463.4 507.2 570.8 524.0 534.6 539.7 570.8 598.6 18

 19 Banks in U.S.-affiliated areas 19.4 16.1 17.1 18.1 19.4 17.1 19.2 18.1 17.4 17.1 15.6 19

 20 Credit unions 33.4 36.9 43.5 43.6 48.7 53.7 47.9 48.9 51.9 53.7 54.3 20

(1) Excludes depository institution lending in the form of open market paper, mortgages, consumer credit, and security credit which are shown on other instrument tables.

(2) Loans from Federal Reserve banks to households, rest of the world, broker and dealers, and funding corporations. See loan details on table L.108.
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L.216 Other Loans and Advances

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total other loans and advances 2095.6 1762.3 1767.1 1819.2 1934.5 2086.3 1953.4 1994.1 2021.0 2086.3 2054.6 1

 2 U.S. government loans 174.8 178.5 183.3 185.8 193.0 195.5 194.8 195.7 195.6 195.5 195.3 2

 3 Liab.: Household sector 12.6 11.6 11.2 11.0 12.1 13.3 11.9 13.2 12.8 13.3 13.6 3

 4 Nonfinancial corporate business 74.9 70.6 70.1 75.3 76.2 74.7 77.5 75.1 75.0 74.7 74.4 4

 5 Nonfinancial noncorporate business 52.5 53.0 55.9 56.5 58.5 57.3 58.0 58.6 58.5 57.3 57.1 5

 6 State and local governments 13.5 14.4 15.3 15.7 16.2 16.6 16.3 16.4 16.5 16.6 16.7 6

 7 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Finance companies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 Funding corporations 2.0 9.2 9.8 3.0 2.4 2.4 2.4 2.4 2.4 2.4 2.4 9

 10 Rest of the world 69.8 72.5 76.4 82.0 87.7 93.5 88.8 91.8 92.6 93.5 93.5 10

 11 Foreign loans to U.S. corporate business 182.5 162.3 196.1 143.9 140.4 170.3 151.8 158.2 160.9 170.3 168.9 11

 12 Liab.: Nonfinancial corporate business 182.5 162.3 196.1 143.9 140.4 170.3 151.8 158.2 160.9 170.3 168.9 12

 Customers’ liability on acceptances outstanding

 13 Asset: U.S.-chartered depository institutions 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 13

 14 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14

 15 Liab.: Nonfinancial corporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 15

 16 Rest of the world 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 17 Holding company loans 14.6 18.9 22.9 105.3 75.7 64.8 73.0 64.1 63.8 64.8 62.3 17

 18 Liab.: Nonfinancial corporate business 14.6 18.9 22.9 99.3 71.7 61.6 70.0 61.2 61.3 61.6 59.3 18

 19 Rest of the world 0.0 0.0 0.0 6.1 4.0 3.2 3.0 2.9 2.5 3.2 3.0 19

 20 Policy loans (Household liability) 121.1 124.5 126.9 128.3 129.2 130.8 129.1 129.4 130.2 130.8 131.1 20

 21 Asset: Federal government 0.5 0.5 0.5 0.4 0.4 0.3 0.4 0.4 0.3 0.3 0.3 21

 22 Life insurance companies 120.6 124.0 126.5 127.8 128.8 130.5 128.8 129.1 129.9 130.5 130.8 22

 23 Government-sponsored enterprise loans (1) 695.9 551.3 487.0 505.7 587.5 671.8 576.9 628.0 639.1 671.8 641.6 23

 24 Liab.: Household sector (SLMA) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 24

 25 Nonfinancial corporate business (FCS) 5.3 6.8 5.9 6.6 6.8 8.3 8.3 7.7 7.6 8.3 8.9 25

 26 Nonfinancial noncorporate business (FCS) 74.8 80.5 77.8 85.4 88.2 97.8 90.0 89.7 91.7 97.8 96.1 26

 27 U.S.-chartered dep. inst. (FHLB & SLMA) 541.1 392.8 332.3 336.9 406.2 458.5 389.8 437.3 439.9 458.5 426.3 27

 28 Credit unions (FHLB) 26.5 26.1 24.2 25.1 27.0 35.4 27.4 30.0 33.1 35.4 34.9 28

 29 Life insurance companies (FHLB) 48.3 45.1 46.8 51.6 59.4 71.8 61.3 63.3 66.8 71.8 75.4 29

 30 Securitized loans held by ABS issuers 54.4 4.0 0.1 1.8 1.9 0.0 1.8 1.2 0.0 0.0 0.0 30

 31 Liab.: Nonfinancial corporate business 54.4 4.0 0.1 1.8 1.9 0.0 1.8 1.2 0.0 0.0 0.0 31

 32 Finance company loans to business 448.9 372.7 375.8 387.0 401.3 412.8 398.0 401.4 401.7 412.8 414.4 32

 33 Liab.: Nonfinancial corporate business 404.0 335.5 338.2 348.3 361.2 371.5 358.2 361.2 361.5 371.5 372.9 33

 34 Nonfinancial noncorporate business 44.9 37.3 37.6 38.7 40.1 41.3 39.8 40.1 40.2 41.3 41.4 34

 35 Loans to nonfinancial corporate business (2) 403.4 350.2 375.1 361.6 405.4 440.2 428.0 416.1 429.7 440.2 441.0 35

 36 Asset: Household sector 26.8 26.2 23.4 20.9 25.9 24.3 26.6 22.2 23.0 24.3 24.4 36

 37 Life insurance companies 20.4 16.7 22.2 22.6 25.1 31.4 27.2 28.2 30.0 31.4 30.3 37

 38 Mutual funds 75.4 74.6 93.5 105.7 145.1 154.5 160.1 156.5 158.9 154.5 155.4 38

 39 ABS issuers 197.8 163.8 162.3 160.0 148.3 159.3 152.9 149.4 155.6 159.3 160.7 39

 40 Brokers and dealers 60.1 47.4 54.3 39.6 50.4 58.6 49.8 49.7 51.8 58.6 59.2 40

 41 Funding corporations 22.9 21.4 19.4 12.9 10.6 12.1 11.4 10.1 10.3 12.1 11.0 41

(1) The Student Loan Marketing Association (Sallie Mae) was included until it was fully privatized in 2004:Q4.

(2) Syndicated loans from domestic entities, excluding depository institutions and finance companies which are included elsewhere.
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L.217 Total Mortgages

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total mortgages 14426.8 13795.3 13483.1 13267.2 13278.8 13454.2 13264.8 13296.7 13360.5 13454.2 13463.5 1

 2 Home 10939.1 10446.7 10200.8 9975.9 9884.7 9886.8 9852.7 9850.6 9868.8 9886.8 9855.3 2

 3 Multifamily residential 855.2 852.2 856.2 889.2 926.3 998.6 936.5 949.3 967.6 998.6 1020.2 3

 4 Commercial 2486.6 2342.3 2258.8 2229.1 2289.8 2386.2 2296.4 2316.5 2342.6 2386.2 2404.3 4

 5 Farm 146.0 154.1 167.2 173.0 178.1 182.7 179.2 180.4 181.5 182.7 183.6 5

 6 Total liabilities 14426.8 13795.3 13483.1 13267.2 13278.8 13454.2 13264.8 13296.7 13360.5 13454.2 13463.5 6

 7 Household sector 10624.1 10123.3 9897.3 9689.3 9609.7 9614.8 9578.4 9576.6 9594.7 9614.8 9584.2 7

 8 Nonfinancial business 3627.5 3495.9 3396.2 3383.5 3466.9 3615.7 3481.0 3513.2 3552.6 3615.7 3651.2 8

 9 Corporate 758.5 643.3 581.9 517.7 538.9 551.1 537.4 541.8 545.8 551.1 548.9 9

 10 Noncorporate 2869.0 2852.7 2814.3 2865.8 2928.0 3064.6 2943.7 2971.4 3006.8 3064.6 3102.3 10

 11 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 11

 12 REITs 175.3 176.1 189.5 194.4 202.2 223.8 205.3 206.9 213.3 223.8 228.1 12

 13 Total assets 14426.8 13795.3 13483.1 13267.2 13278.8 13454.2 13264.8 13296.7 13360.5 13454.2 13463.5 13

 14 Household sector 110.9 100.1 100.9 87.1 76.2 68.8 74.5 72.5 70.5 68.8 66.7 14

 15 Nonfinancial corporate business 29.5 28.0 27.4 25.5 27.4 29.2 27.8 28.3 28.7 29.2 29.6 15

 16 Nonfinancial noncorporate business 37.9 42.1 36.3 33.9 34.8 36.6 35.0 35.5 35.8 36.6 37.2 16

 17 Federal government 108.4 106.6 109.9 111.5 115.5 117.2 116.0 116.5 117.3 117.2 118.1 17

 18 State and local governments 193.4 204.7 202.2 205.9 206.4 219.2 209.8 215.1 215.4 219.2 229.0 18

 19 U.S.-chartered depository institutions 4371.9 4194.9 4049.6 4028.8 3983.5 4090.7 3991.3 4039.0 4057.9 4090.7 4123.9 19

 20 Foreign banking offices in U.S. 37.8 35.4 32.8 30.9 30.3 37.6 32.2 34.2 35.5 37.6 37.4 20

 21 Banks in U.S.-affiliated areas 42.3 35.8 33.4 34.9 32.4 30.4 32.0 31.8 30.9 30.4 27.8 21

 22 Credit unions 316.9 317.0 320.5 327.8 345.9 372.5 350.4 357.2 366.5 372.5 375.8 22

 23 Property-casualty insurance companies 4.4 4.1 4.9 5.6 7.9 9.9 8.3 8.8 9.3 9.9 10.4 23

 24 Life insurance companies 326.1 317.5 332.5 344.4 363.2 384.8 365.4 370.3 376.4 384.8 389.7 24

 25 Private pension funds 23.7 26.5 21.9 23.1 19.7 19.5 18.9 19.8 20.8 19.5 18.7 25

 26 State and local govt. retirement funds 12.3 11.9 11.4 10.4 9.7 10.1 10.0 10.3 10.3 10.1 9.8 26

 27 Government-sponsored enterprises (1) 707.7 5021.0 4924.0 4823.5 4877.8 4870.5 4861.0 4840.1 4854.8 4870.5 4868.0 27

 28 Agency- and GSE-backed mortgage pools 5376.7 1139.5 1304.8 1437.0 1569.4 1644.7 1585.8 1600.0 1623.6 1644.7 1642.5 28

 29 ABS issuers 2250.4 1922.3 1703.4 1492.9 1222.4 1120.0 1169.4 1146.5 1133.2 1120.0 1095.0 29

 30 Finance companies 430.3 243.5 211.2 179.5 157.0 148.0 154.1 149.6 148.2 148.0 144.9 30

 31 REITs 46.0 44.6 56.1 64.5 199.3 244.6 222.8 221.3 225.4 244.6 239.0 31
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L.218 Home Mortgages (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 10939.1 10446.7 10200.8 9975.9 9884.7 9886.8 9852.7 9850.6 9868.8 9886.8 9855.3 1

 2 Household sector 10419.4 9915.6 9695.9 9490.2 9405.9 9403.1 9373.9 9370.2 9386.3 9403.1 9370.5 2

 3 Nonfinancial corporate business 20.3 13.6 10.2 9.7 10.0 11.5 10.4 10.9 11.3 11.5 12.0 3

 4 Nonfinancial noncorporate business 499.4 517.6 494.8 476.0 468.8 472.2 468.3 469.5 471.2 472.2 472.8 4

 5 Total assets 10939.1 10446.7 10200.8 9975.9 9884.7 9886.8 9852.7 9850.6 9868.8 9886.8 9855.3 5

 6 Household sector 83.2 75.2 67.2 59.2 51.2 43.2 49.2 47.2 45.2 43.2 41.2 6

 7 Nonfinancial corporate business 17.7 16.8 16.4 14.5 17.7 20.8 18.4 19.2 20.0 20.8 21.6 7

 8 Nonfinancial noncorporate business 13.9 15.4 13.3 12.4 12.8 13.4 12.8 13.0 13.1 13.4 13.6 8

 9 Federal government 22.1 23.9 24.0 25.2 25.6 26.8 25.9 25.6 25.9 26.8 27.7 9

 10 State and local governments 99.6 105.4 104.1 106.1 106.3 112.9 108.1 110.8 110.9 112.9 117.9 10

 11 U.S.-chartered depository institutions 2693.4 2615.6 2538.0 2509.1 2394.2 2401.8 2382.6 2404.3 2402.4 2401.8 2407.9 11

 12 Foreign banking offices in U.S. 0.9 1.1 1.3 1.8 1.4 2.9 1.7 2.0 2.5 2.9 2.8 12

 13 Banks in U.S.-affiliated areas 22.6 20.1 17.8 20.0 18.9 17.4 18.4 18.3 17.6 17.4 16.5 13

 14 Credit unions 316.9 317.0 320.5 327.8 345.9 372.5 350.4 357.2 366.5 372.5 375.8 14

 15 Life insurance companies 8.7 9.0 9.0 9.5 10.2 13.8 11.0 11.7 12.6 13.8 13.4 15

 16 Private pension funds 2.0 1.9 1.6 1.6 1.4 1.4 1.3 1.4 1.5 1.4 1.3 16

 17 State and local govt. retirement funds 4.4 4.3 4.1 3.7 3.5 3.7 3.6 3.7 3.7 3.7 3.5 17

 18 Government-sponsored enterprises 433.4 4690.7 4587.7 4476.1 4544.9 4537.9 4532.2 4515.2 4527.2 4537.9 4528.3 18

 19 Agency- and GSE-backed mortgage pools 5266.5 1068.8 1216.8 1321.8 1420.6 1471.7 1432.0 1440.7 1458.8 1471.7 1465.9 19

 20 ABS issuers 1578.7 1303.0 1109.5 928.3 792.4 701.1 768.3 744.2 720.1 701.1 676.4 20

 21 Finance companies 366.0 169.5 149.7 132.6 114.7 104.6 111.5 109.1 106.7 104.6 101.1 21

 22 REITs 8.9 9.0 19.8 26.5 23.1 41.1 25.3 27.0 34.1 41.1 40.3 22

 Memo:

 23 Home equity loans included above (2) 1033.3 928.5 853.5 769.6 702.9 672.7 690.6 684.0 679.3 672.7 660.3 23

 24 U.S.-chartered depository institutions 841.4 783.3 723.1 652.7 596.2 568.2 585.6 579.7 574.3 568.2 557.5 24

 25 Foreign banking offices in U.S. 0.3 0.3 0.3 0.2 0.4 0.4 0.4 0.4 0.3 0.4 0.4 25

 26 Credit unions 94.6 88.2 82.2 75.7 72.0 73.6 71.4 71.7 73.3 73.6 73.1 26

 27 ABS issuers 31.5 22.8 18.0 14.5 11.4 9.5 10.9 10.4 10.0 9.5 9.1 27

 28 Finance companies 65.5 33.9 29.9 26.5 22.9 20.9 22.3 21.8 21.3 20.9 20.2 28

(1) Mortgages on 1-4 family properties including mortgages on farm houses.

(2) Loans made under home equity lines of credit and home equity loans secured by junior liens. Excludes home equity loans held by individuals.

L.219 Multifamily Residential Mortgages

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

 1 Total liabilities 855.2 852.2 856.2 889.2 926.3 998.6 936.5 949.3 967.6 998.6 1020.2 1

 2 Nonfinancial corporate business 41.4 41.2 41.4 43.1 44.8 48.4 45.3 46.0 46.9 48.4 49.4 2

 3 Nonfinancial noncorporate business 786.4 783.2 786.9 819.3 851.4 919.1 861.5 873.2 890.7 919.1 939.0 3

 4 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 REITs 27.3 27.8 27.9 26.7 30.0 31.0 29.6 30.1 30.0 31.0 31.8 5

 6 Total assets 855.2 852.2 856.2 889.2 926.3 998.6 936.5 949.3 967.6 998.6 1020.2 6

 7 Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 7

 8 Nonfinancial corporate business 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 8

 9 Nonfinancial noncorporate business 12.9 14.3 12.3 11.5 11.8 12.4 11.8 12.0 12.1 12.4 12.6 9

 10 Federal government 14.7 14.4 14.1 13.7 13.8 13.2 13.7 13.6 13.4 13.2 13.1 10

 11 State and local governments 77.4 81.9 80.9 82.4 82.6 87.7 83.9 86.1 86.2 87.7 91.6 11

 12 U.S.-chartered depository institutions 267.0 254.9 248.3 258.5 287.9 325.9 297.3 307.8 316.4 325.9 334.9 12

 13 Foreign banking offices in U.S. 4.0 3.5 2.9 1.4 1.1 1.3 0.9 1.0 1.0 1.3 1.4 13

 14 Life insurance companies 48.5 47.2 49.4 51.1 53.6 56.4 53.8 54.4 55.1 56.4 57.1 14

 15 Private pension funds 2.7 3.1 2.9 2.5 2.2 2.1 2.1 2.2 2.3 2.1 2.1 15

 16 State and local govt. retirement funds 3.7 3.6 3.4 3.1 2.9 3.0 3.0 3.1 3.1 3.0 2.9 16

 17 Government-sponsored enterprises 204.4 256.5 259.2 265.5 243.5 240.8 238.9 234.3 236.4 240.8 247.1 17

 18 Agency- and GSE-backed mortgage pools 105.7 66.9 86.4 113.4 147.1 171.4 152.0 157.6 163.2 171.4 175.0 18

 19 ABS issuers 107.0 98.4 90.7 81.1 75.2 73.5 74.4 72.7 72.8 73.5 71.4 19

 20 Finance companies 4.6 5.1 3.6 2.8 2.0 2.0 2.0 2.0 2.0 2.0 2.1 20

 21 REITs 2.3 2.0 1.7 1.9 2.4 8.4 2.2 2.2 3.3 8.4 8.6 21
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L.220 Commercial Mortgages

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 2486.6 2342.3 2258.8 2229.1 2289.8 2386.2 2296.4 2316.5 2342.6 2386.2 2404.3 1

 2 Household sector 204.7 207.7 201.4 199.1 203.9 211.7 204.5 206.4 208.3 211.7 213.7 2

 3 Nonfinancial corporate business 664.3 552.9 490.3 422.5 439.9 444.9 437.0 439.8 441.8 444.9 440.5 3

 4 Nonfinancial noncorporate business 1469.6 1433.3 1405.4 1439.8 1473.8 1536.8 1479.2 1493.5 1509.1 1536.8 1553.9 4

 5 REITs 147.9 148.3 161.7 167.7 172.1 192.8 175.7 176.8 183.4 192.8 196.3 5

 6 Total assets 2486.6 2342.3 2258.8 2229.1 2289.8 2386.2 2296.4 2316.5 2342.6 2386.2 2404.3 6

 7 Household sector 19.2 18.1 17.5 17.2 17.6 19.0 17.9 18.2 18.6 19.0 19.5 7

 8 Nonfinancial corporate business 11.4 10.8 10.6 10.6 9.3 8.0 9.0 8.6 8.3 8.0 7.6 8

 9 Nonfinancial noncorporate business 10.4 11.5 10.0 9.3 9.6 10.1 9.6 9.8 9.9 10.1 10.2 9

 10 Federal government 67.8 64.1 67.2 68.0 71.9 72.1 72.1 72.7 73.0 72.1 71.9 10

 11 State and local governments 15.5 16.4 16.2 16.5 16.5 17.5 16.8 17.2 17.2 17.5 18.3 11

 12 U.S.-chartered depository institutions 1367.4 1273.2 1210.3 1202.2 1241.0 1301.1 1250.5 1265.7 1277.5 1301.1 1318.7 12

 13 Foreign banking offices in U.S. 32.9 30.8 28.5 27.6 27.8 33.2 29.6 31.1 31.8 33.2 33.1 13

 14 Banks in U.S.-affiliated areas 19.6 15.7 15.6 14.9 13.5 13.0 13.6 13.5 13.3 13.0 11.3 14

 15 Property-casualty insurance companies 4.4 4.1 4.9 5.6 7.9 9.9 8.3 8.8 9.3 9.9 10.4 15

 16 Life insurance companies 255.6 248.8 261.1 270.9 286.3 301.2 287.5 291.0 295.4 301.2 305.7 16

 17 Private pension funds 18.9 21.4 17.4 19.0 16.1 16.0 15.5 16.2 17.1 16.0 15.3 17

 18 State and local govt. retirement funds 4.2 4.1 3.9 3.5 3.3 3.5 3.4 3.5 3.5 3.5 3.3 18

 19 Agency- and GSE-backed mortgage pools 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 ABS issuers 564.8 520.8 503.2 483.5 354.8 345.3 326.7 329.6 340.3 345.3 347.2 20

 21 Finance companies 59.7 68.9 57.9 44.1 40.3 41.3 40.6 38.5 39.5 41.3 41.7 21

 22 REITs 34.8 33.7 34.6 36.1 173.9 195.1 195.3 192.0 187.9 195.1 190.2 22

L.221 Farm Mortgages (1)

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

 1 Total liabilities 146.0 154.1 167.2 173.0 178.1 182.7 179.2 180.4 181.5 182.7 183.6 1

 2 Nonfinancial corporate business 32.5 35.5 40.0 42.3 44.1 46.3 44.6 45.2 45.8 46.3 46.9 2

 3 Nonfinancial noncorporate business 113.5 118.6 127.2 130.7 134.0 136.4 134.6 135.2 135.8 136.4 136.7 3

 4 Total assets 146.0 154.1 167.2 173.0 178.1 182.7 179.2 180.4 181.5 182.7 183.6 4

 5 Household sector 8.5 6.8 16.3 10.8 7.5 6.7 7.5 7.1 6.7 6.7 6.0 5

 6 Nonfinancial noncorporate business 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 6

 7 Federal government 3.9 4.3 4.5 4.6 4.2 5.2 4.3 4.6 5.1 5.2 5.4 7

 8 State and local governments 1.0 1.0 1.0 1.0 1.0 1.1 1.0 1.1 1.1 1.1 1.1 8

 9 U.S.-chartered depository institutions 44.2 51.2 52.9 59.0 60.4 62.0 60.8 61.2 61.6 62.0 62.4 9

 10 Foreign banking offices in U.S. 0.0 0.0 0.0 0.0 0.0 0.2 0.0 0.2 0.2 0.2 0.2 10

 11 Life insurance companies 13.3 12.4 13.0 13.0 13.1 13.4 13.2 13.3 13.4 13.4 13.5 11

 12 State and local govt. retirement funds 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 12

 13 Government-sponsored enterprises 69.9 73.8 77.1 82.0 89.4 91.8 90.0 90.6 91.2 91.8 92.6 13

 14 Agency- and GSE-backed mortgage pools 4.5 3.8 1.7 1.9 1.8 1.6 1.7 1.7 1.7 1.6 1.6 14

(1) Excludes mortgages on farm houses.
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L.222 Consumer Credit

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities (Households) 2552.3 2646.9 2755.4 2922.9 3098.8 3317.2 3105.0 3171.9 3249.0 3317.2 3321.6 1

 2 Total assets 2552.3 2646.9 2755.4 2922.9 3098.8 3317.2 3105.0 3171.9 3249.0 3317.2 3321.6 2

 3 Households (nonprofit organizations) (1) 88.8 78.4 74.5 65.6 59.3 53.6 58.1 57.0 55.2 53.6 51.9 3

 4 Nonfinancial corporate business 52.6 45.0 46.9 48.4 44.2 43.0 43.1 43.3 43.5 43.0 41.9 4

 5 Nonfinancial noncorporate business 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 6 Federal government (2) 223.1 356.2 484.7 616.8 729.8 840.9 770.9 786.0 825.9 840.9 881.8 6

 7 U.S.-chartered depository institutions 906.3 1185.5 1192.6 1218.6 1271.6 1343.1 1246.5 1284.2 1305.4 1343.1 1312.1 7

 8 Credit unions 237.1 226.5 223.0 243.6 265.6 302.8 269.2 283.5 293.3 302.8 308.2 8

 9 Government-sponsored enterprises 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 9

 10 ABS issuers 572.5 50.3 46.2 50.0 49.1 49.8 47.3 46.3 49.1 49.8 48.2 10

 11 Finance companies 471.9 705.0 687.6 679.8 679.1 684.1 669.9 671.7 676.6 684.1 677.5 11

 Memo:

 12 Credit card loans (3) 916.4 839.5 841.2 845.9 858.2 890.0 818.2 839.7 849.7 890.0 848.1 12

 13 Auto loans 719.1 713.5 751.2 809.2 878.8 957.8 892.3 918.2 943.4 957.8 971.8 13

 14 Student loans (4) 831.6 912.4 1012.3 1131.3 1223.0 1325.3 1261.7 1274.6 1311.5 1325.3 1360.4 14

 15 Other consumer credit (5) 85.1 181.5 150.7 136.4 138.8 144.1 132.8 139.5 144.4 144.1 141.2 15

(1) Student loans originated under the Federal Family Education Loan Program.

(2) Includes loans originated by the Department of Education under the Federal Direct Loan Program and Perkins Loans, as well as Federal Family Education Loan Program

 loans that the government purchased from depository institutions, finance companies, and nonprofit and educational institutions, and loans in default.

(3) Revolving credit that also includes overdraft plans on checking accounts and other loans without a fixed repayment schedule.

(4) Includes student loans held by nonprofit organizations (line 3), the federal government (line 6), depository institutions (part of lines 7 and 8), and

 finance companies (part of line 11). Data begin in 2006:Q1.

(5) Includes student loans before 2006:Q1.
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L.223 Trade Credit

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total trade payables 3216.0 3370.8 3499.4 3636.0 3807.9 3982.7 3828.9 3902.2 3942.3 3982.7 4025.0 1

 2 Household sector 278.2 248.8 250.0 254.0 255.0 258.1 256.0 256.9 257.4 258.1 258.5 2

 3 Nonfinancial corporate business 1590.1 1746.4 1771.6 1837.8 1943.2 2027.3 1947.3 1987.4 2004.1 2027.3 2035.3 3

 4 Nonfinancial noncorporate business 397.6 427.8 482.7 496.2 512.7 538.0 516.2 524.1 529.1 538.0 552.8 4

 5 Federal government 204.5 209.7 218.5 231.9 251.5 269.0 260.3 270.1 274.3 269.0 275.7 5

 6 State and local governments 630.5 669.0 707.4 746.2 785.8 826.5 795.8 806.0 816.3 826.5 836.6 6

 7 Brokers and dealers 70.1 18.1 14.3 14.2 14.5 17.9 14.8 17.8 19.9 17.9 19.2 7

 8 Rest of the world 45.1 51.1 55.1 55.7 45.3 45.9 38.6 39.9 41.3 45.9 46.9 8

 9 Total trade receivables 2971.5 3132.9 3304.3 3379.1 3687.3 3850.6 3782.5 3881.5 3899.0 3850.6 3955.0 9

 10 Nonfinancial corporate business 2055.1 2157.1 2240.8 2292.8 2570.0 2678.9 2640.7 2720.5 2736.4 2678.9 2763.6 10

 11 Nonfinancial noncorporate business 496.3 533.4 594.4 598.9 616.3 647.9 619.3 627.9 634.1 647.9 658.4 11

 12 Federal government 43.6 42.9 47.7 50.3 53.6 51.0 55.4 56.1 55.8 51.0 53.2 12

 13 State and local governments 139.1 152.2 157.8 163.4 171.9 179.6 172.4 175.8 177.3 179.6 181.2 13

 14 Property-casualty insurance companies 83.0 83.8 87.2 92.0 95.2 100.8 100.1 103.9 103.4 100.8 106.1 14

 15 ABS issuers 61.3 51.8 47.6 41.2 35.7 31.3 34.3 33.9 31.0 31.3 31.3 15

 16 Rest of the world 93.1 111.8 128.8 140.5 144.4 161.3 160.3 163.4 161.0 161.3 161.2 16

 17 Discrepancy 244.5 237.9 195.1 256.8 120.7 132.1 46.4 20.7 43.4 132.1 70.0 17

L.224 Security Credit

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

 1 Total liabilities 936.7 1041.7 1034.2 1131.9 1236.2 1332.0 1273.1 1329.5 1372.7 1332.0 1318.7 1

 2 Household sector 203.0 278.2 238.9 303.7 339.2 369.5 320.6 375.4 390.3 369.5 354.3 2

 3 Brokers and dealers 733.7 763.5 795.4 828.2 897.1 962.5 952.5 954.1 982.4 962.5 964.4 3

 4 Total assets 936.7 1041.7 1034.2 1131.9 1236.2 1332.0 1273.1 1329.5 1372.7 1332.0 1318.7 4

 5 Household sector 701.7 725.2 726.1 757.0 815.5 869.0 866.2 866.6 892.5 869.0 870.5 5

 6 U.S.-chartered depository institutions 20.4 23.6 35.8 45.0 52.9 61.1 58.4 61.0 60.3 61.1 61.5 6

 7 Foreign banking offices in U.S. 11.6 14.7 33.5 26.2 28.7 32.5 28.0 26.5 29.6 32.5 32.4 7

 8 Brokers and dealers 203.0 278.2 238.9 303.7 339.2 369.5 320.6 375.4 390.3 369.5 354.3 8

L.225 Life Insurance Reserves

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

 1 Total liabilities 1242.4 1278.6 1352.3 1359.3 1416.8 1477.4 1428.9 1445.8 1454.8 1477.4 1501.8 1

 2 Federal government 47.8 48.7 50.0 50.3 50.5 51.3 50.5 50.6 50.9 51.3 50.7 2

 3 Life insurance companies 1194.5 1229.9 1302.3 1309.0 1366.3 1426.1 1378.4 1395.2 1403.9 1426.1 1451.1 3

 4 Net change in assets 1242.4 1278.6 1352.3 1359.3 1416.8 1477.4 1428.9 1445.8 1454.8 1477.4 1501.8 4

 5 Households 1109.5 1137.5 1199.3 1186.4 1233.0 1282.8 1242.6 1256.7 1263.3 1282.8 1304.8 5

 6 U.S.-chartered depository institutions 111.5 116.0 125.5 138.0 143.8 149.6 145.2 146.7 147.9 149.6 150.9 6

 7 Holding companies 21.4 25.1 27.6 34.9 39.9 45.0 41.1 42.4 43.6 45.0 46.0 7
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L.226 Pension Entitlements

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 15458.1 17035.7 17447.7 18460.8 19893.7 20783.7 20093.4 20402.1 20476.3 20783.7 20991.9 1

 2 Life insurance companies (1) 2146.8 2341.3 2383.2 2575.3 2831.3 2925.4 2855.4 2891.7 2879.8 2925.4 2954.6 2

 3 Private pension funds (2) 6001.8 6650.1 6753.3 7278.0 8148.3 8578.4 8237.2 8409.2 8417.8 8578.4 8666.0 3

 4 Federal government retirement funds (3) 2922.5 3159.3 3266.0 3384.9 3542.8 3683.4 3573.6 3609.6 3641.4 3683.4 3716.2 4

 5 State and local govt. retirement funds 4387.1 4885.0 5045.2 5222.6 5371.4 5596.6 5427.2 5491.6 5537.4 5596.6 5655.0 5

 6 Total assets (Households) (4) 15458.1 17035.7 17447.7 18460.8 19893.7 20783.7 20093.4 20402.1 20476.3 20783.7 20991.9 6

 Memo:

 7 Individual Retirement Accounts (IRAs) at: (5) 4488.0 5029.0 5241.0 5907.0 6966.0 7443.0 7084.0 7325.0 7343.0 7443.0 ND 7

 8 U.S.-chartered depository institutions 356.7 383.3 403.6 428.0 427.6 427.8 420.9 419.2 423.0 427.8 ND 8

 9 Credit unions 74.2 77.2 78.4 79.9 79.2 77.6 78.9 78.5 78.1 77.6 ND 9

 10 Life insurance companies 408.0 440.0 450.0 484.0 525.0 556.0 530.0 538.0 535.0 556.0 ND 10

 11 Money market mutual funds 226.0 202.0 211.0 217.0 230.0 219.0 226.0 222.0 224.0 219.0 ND 11

 12 Mutual funds 1789.0 2102.0 2081.0 2397.0 2929.0 3132.0 2998.0 3128.0 3087.0 3132.0 ND 12

 13 Other self-directed accounts 1634.1 1824.5 2016.9 2301.1 2775.2 3030.6 2830.2 2939.3 2995.8 3030.6 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.227 Taxes Payable by Businesses

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

 1 Total taxes payable by all businesses 40.6 53.1 73.4 84.5 96.7 119.4 115.2 119.8 126.4 119.4 156.7 1

 2 Nonfinancial corporate business 35.7 42.9 51.7 54.0 44.9 45.3 51.1 47.0 54.8 45.3 68.9 2

 3 Nonfinancial noncorporate business 99.9 99.2 99.7 107.4 110.9 117.4 111.5 113.3 114.6 117.4 122.1 3

 4 U.S.-chartered depository institutions -66.2 -59.6 -49.1 -47.6 -47.4 -32.3 -39.7 -32.4 -35.3 -32.3 -27.5 4

 5 Property-casualty insurance companies -15.8 -10.1 -14.5 -10.8 8.4 10.3 10.2 9.5 10.2 10.3 10.6 5

 6 Life insurance companies -31.4 -28.8 -23.6 -28.3 -30.5 -32.4 -29.3 -29.5 -30.4 -32.4 -29.9 6

 7 Finance companies 12.7 6.0 6.7 6.7 6.8 7.1 6.8 6.8 7.0 7.1 7.6 7

 8 Brokers and dealers 5.7 3.6 2.5 3.1 3.7 4.0 4.5 5.1 5.4 4.0 4.9 8

 9 Total business taxes receivable 250.9 262.1 272.8 279.9 289.6 310.2 296.2 297.0 304.5 310.2 315.9 9

 10 Federal government 133.9 144.3 152.8 158.6 165.8 173.0 167.6 169.4 171.2 173.0 176.0 10

 11 State and local governments 117.1 117.8 120.0 121.3 123.8 137.2 128.6 127.6 133.3 137.2 139.9 11

 12 Discrepancy -210.4 -209.0 -199.4 -195.4 -193.0 -190.8 -181.0 -177.2 -178.1 -190.8 -159.2 12

L.228 Proprietors’ Equity in Noncorporate Business

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

 1 Total household equity 6258.6 6894.2 7587.0 8386.5 9502.9 9924.7 9578.5 9668.0 9791.8 9924.7 10156.2 1

 2 Nonfinancial noncorporate business 6243.8 6878.3 7575.2 8369.2 9485.3 9905.1 9560.1 9649.6 9772.9 9905.1 10136.0 2

 3 Brokers and dealers 14.8 15.9 11.9 17.3 17.6 19.6 18.4 18.4 19.0 19.6 20.2 3
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L.229 Direct Investment

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 U.S. direct investment abroad:

 1 Liab.: Rest of the world (1) 4077.4 4273.6 4599.5 4972.9 5284.0 5535.8 5320.5 5396.4 5471.7 5535.8 5635.7 1

 2 Equity 3852.4 4084.8 4405.2 4757.4 5078.6 5291.9 5125.6 5200.4 5239.4 5291.9 5386.4 2

 3 Intercompany debt (2) 224.9 188.7 194.3 215.5 205.4 243.9 194.9 196.0 232.3 243.9 249.3 3

 4 U.S. parents’ claims 572.0 586.9 619.1 644.3 664.3 707.7 654.9 684.1 704.5 707.7 714.6 4

 5 Less: U.S. parents’ liabilities 347.1 398.1 424.8 428.8 458.8 463.8 460.0 488.1 472.2 463.8 465.3 5

 6 Asset: Nonfinancial corporate business 3245.1 3402.9 3759.2 4081.0 4370.0 4594.1 4394.9 4465.6 4530.7 4594.1 4691.7 6

 7 U.S.-chartered depository institutions 261.7 280.1 272.5 283.9 285.3 290.5 286.8 288.9 292.3 290.5 289.7 7

 8 Property-casualty insurance companies 123.7 99.1 90.2 98.0 108.8 114.0 109.6 110.6 112.5 114.0 116.2 8

 9 Life insurance companies 28.9 46.3 54.2 67.0 65.5 67.0 65.4 64.9 66.1 67.0 69.1 9

 10 Finance companies 186.9 206.0 221.8 225.4 228.6 235.0 235.8 238.1 239.7 235.0 228.7 10

 11 Brokers and dealers 231.0 239.3 201.7 217.5 225.8 235.2 228.0 228.3 230.4 235.2 240.3 11

 Foreign direct investment in U.S.:

 12 Liab.: Nonfinancial corporate business 1986.4 2128.7 2230.7 2408.9 2610.3 2712.0 2569.9 2628.1 2663.8 2712.0 2790.4 12

 13 Nonfinancial noncorporate business 4.8 5.3 6.1 6.6 7.3 8.2 7.5 7.7 7.9 8.2 8.4 13

 14 Foreign banking offices in U.S. 107.7 120.0 176.6 181.8 181.4 184.5 182.3 183.0 181.5 184.5 185.2 14

 15 Property-casualty insurance companies 64.7 70.7 73.9 77.1 74.5 75.5 74.0 73.2 75.5 75.5 77.9 15

 16 Life insurance companies 69.4 84.3 103.6 106.0 97.7 106.6 99.1 101.4 105.3 106.6 109.7 16

 17 Finance companies 90.0 114.7 91.1 90.9 73.0 73.1 73.4 74.2 72.5 73.1 71.7 17

 18 Brokers and dealers 64.4 88.5 104.6 110.4 119.5 123.0 121.7 122.5 123.0 123.0 122.3 18

 19 Funding corporations 10.8 11.4 12.0 12.6 13.2 13.8 13.4 13.5 13.7 13.8 14.0 19

 20 Asset: Rest of the world (1) 2398.2 2623.6 2798.7 2994.3 3176.9 3296.6 3141.4 3203.6 3243.1 3296.6 3379.6 20

 21 Equity 1916.7 2129.1 2268.3 2475.2 2652.9 2758.2 2626.8 2691.3 2721.7 2758.2 2821.1 21

 22 Intercompany debt 481.6 494.5 530.4 519.2 523.9 538.4 514.6 512.4 521.4 538.4 548.5 22

 23 U.S. affiliates’ liabilities 757.7 773.2 806.1 832.2 869.7 917.7 841.7 888.1 896.9 917.7 933.7 23

 24 Less: U.S. affiliates’ claims 276.1 278.7 275.7 313.0 345.8 379.3 327.1 375.7 375.5 379.3 385.2 24

 Memo:

 Direct investment, asset/liability presentation:

 25 Direct investment assets 4700.5 4950.4 5300.0 5714.8 6088.7 6378.9 6107.6 6260.2 6319.4 6378.9 6486.2 25

 26 Equity (line 2) 3852.4 4084.8 4405.2 4757.4 5078.6 5291.9 5125.6 5200.4 5239.4 5291.9 5386.4 26

 27 Intercompany debt 848.1 865.5 894.8 957.3 1010.1 1087.0 982.0 1059.8 1080.1 1087.0 1099.8 27

 28 U.S. parents’ claims (line 4) 572.0 586.9 619.1 644.3 664.3 707.7 654.9 684.1 704.5 707.7 714.6 28

 29 U.S. affiliates’ claims (line 24) 276.1 278.7 275.7 313.0 345.8 379.3 327.1 375.7 375.5 379.3 385.2 29

 30 Direct investment liabilities 3021.4 3300.5 3499.2 3736.2 3981.5 4139.7 3928.5 4067.4 4090.8 4139.7 4220.1 30

 31 Equity (line 21) 1916.7 2129.1 2268.3 2475.2 2652.9 2758.2 2626.8 2691.3 2721.7 2758.2 2821.1 31

 32 Intercompany debt 1104.7 1171.3 1230.9 1261.0 1328.6 1381.5 1301.7 1376.2 1369.1 1381.5 1399.0 32

 33 U.S. parents’ liabilities (line 5) 347.1 398.1 424.8 428.8 458.8 463.8 460.0 488.1 472.2 463.8 465.3 33

 34 U.S. affiliates’ liabilities (line 23) 757.7 773.2 806.1 832.2 869.7 917.7 841.7 888.1 896.9 917.7 933.7 34

 Alternative valuations of direct investment assets:

 U.S. direct investment abroad:

 35 Market value 4322.1 4809.6 4514.3 5196.5 6275.4 6318.6 6330.4 6624.8 6401.3 6318.6 6424.3 35

 36 Equity 4097.2 4620.9 4320.1 4981.0 6070.0 6074.7 6135.4 6428.8 6169.0 6074.7 6175.0 36

 37 Intercompany debt 224.9 188.7 194.3 215.5 205.4 243.9 194.9 196.0 232.3 243.9 249.3 37

 38 Historical cost 3565.0 3741.9 4050.0 4384.7 4660.9 4912.7 4697.4 4773.3 4848.6 4912.7 5018.3 38

 39 Equity 3340.1 3553.2 3855.8 4169.2 4455.5 4668.8 4502.5 4577.2 4616.2 4668.8 4769.1 39

 40 Intercompany debt 224.9 188.7 194.3 215.5 205.4 243.9 194.9 196.0 232.3 243.9 249.3 40

 Foreign direct investment in U.S.:

 41 Market value 2995.5 3422.3 3498.7 3929.1 4985.9 5409.9 4901.8 5135.9 5185.9 5409.9 5531.5 41

 42 Equity 2513.9 2927.8 2968.4 3409.9 4462.0 4871.5 4387.2 4623.6 4664.5 4871.5 4983.0 42

 43 Intercompany debt 481.6 494.5 530.4 519.2 523.9 538.4 514.6 512.4 521.4 538.4 548.5 43

 44 Historical cost 2069.4 2280.0 2433.8 2605.8 2764.0 2883.7 2728.5 2790.7 2830.2 2883.7 3005.3 44

 45 Equity 1587.9 1785.5 1903.5 2086.6 2240.0 2345.3 2213.9 2278.3 2308.8 2345.3 2456.8 45

 46 Intercompany debt 481.6 494.5 530.4 519.2 523.9 538.4 514.6 512.4 521.4 538.4 548.5 46

(1) Direct investment is valued on a current-cost basis and presented on a directional basis.

(2) Through 1992:Q4, U.S. direct investment abroad excludes net inflows from corporate bonds issued by Netherlands Antillean financial subsidiaries.
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L.230 Total Miscellaneous Financial Claims

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 15799.7 15896.1 16483.5 17153.1 16713.6 17365.2 16868.4 17026.0 17255.7 17365.2 17530.8 1

 2 Household sector 22.1 24.7 24.3 24.9 27.9 29.1 28.9 30.2 29.6 29.1 30.2 2

 3 Nonfinancial corporate business 3140.5 3295.6 3516.4 3680.5 3757.5 3813.6 3740.9 3796.5 3829.7 3813.6 3791.1 3

 4 Nonfinancial noncorporate business 1243.3 1189.0 1168.0 1219.7 1134.3 1140.9 1131.9 1134.1 1134.3 1140.9 1155.7 4

 5 Federal government 2859.2 3083.1 3189.0 3291.6 3393.7 3498.2 3416.5 3442.8 3466.2 3498.2 3578.6 5

 6 State and local governments 1116.9 1343.4 1661.0 1649.3 1192.8 1358.6 1254.9 1233.1 1329.9 1358.6 1414.3 6

 7 Monetary authority 28.2 56.9 29.7 33.7 43.5 47.0 47.8 50.0 50.3 47.0 50.4 7

 8 U.S.-chartered depository institutions 2286.8 2247.6 2236.1 2446.4 2516.2 2846.0 2565.3 2644.6 2738.0 2846.0 2857.0 8

 9 Foreign banking offices in U.S. 323.8 293.3 303.4 267.8 234.6 222.8 236.0 232.6 248.4 222.8 225.7 9

 10 Banks in U.S.-affiliated areas 29.2 23.3 19.4 17.3 14.3 12.7 14.8 15.3 12.6 12.7 11.8 10

 11 Credit unions 19.4 11.1 12.4 12.7 14.2 15.4 13.8 16.1 16.9 15.4 18.0 11

 12 Property-casualty insurance companies 754.8 761.2 796.4 813.4 813.1 827.8 814.0 822.6 829.3 827.8 825.0 12

 13 Life insurance companies 1092.2 1162.2 1179.5 1221.6 1266.0 1316.9 1288.5 1318.6 1307.7 1316.9 1338.4 13

 14 Government-sponsored enterprises 269.2 179.4 130.2 124.1 114.7 111.0 111.2 111.1 112.8 111.0 110.0 14

 15 Finance companies 483.6 157.3 173.0 142.9 134.9 119.7 132.3 123.9 122.5 119.7 121.1 15

 16 REITs 59.6 63.7 70.8 96.3 74.6 88.2 81.1 85.5 87.3 88.2 87.1 16

 17 Brokers and dealers 385.6 394.6 375.1 367.4 408.7 388.8 413.3 410.3 390.4 388.8 395.3 17

 18 Holding companies 550.9 524.6 484.4 822.3 739.4 708.2 736.4 743.9 718.7 708.2 699.0 18

 19 Funding corporations 946.0 893.9 790.3 737.2 672.5 661.4 681.8 649.5 672.3 661.4 654.0 19

 20 Rest of the world 188.5 191.2 324.1 184.1 160.8 158.8 158.9 165.2 158.9 158.8 168.1 20

 21 Total assets 21133.0 21780.1 22773.2 23750.6 23932.8 24948.5 24304.9 24426.0 24659.0 24948.5 25177.3 21

 22 Household sector 800.9 808.2 878.8 872.7 924.9 940.1 927.1 934.7 936.2 940.1 940.9 22

 23 Nonfinancial corporate business 6294.1 6707.4 6782.0 6944.3 7416.9 7763.6 7449.4 7548.5 7594.0 7763.6 7725.9 23

 24 Nonfinancial noncorporate business 2029.5 2134.4 2236.6 2459.4 2501.1 2634.0 2514.8 2550.8 2577.1 2634.0 2674.6 24

 25 Federal government 148.3 143.8 145.6 144.6 150.5 163.0 153.2 158.2 160.9 163.0 165.6 25

 26 State and local governments 118.7 96.8 95.6 101.9 106.7 118.1 109.6 113.5 114.8 118.1 124.6 26

 27 Monetary authority 74.8 81.6 223.9 199.5 233.1 235.5 235.0 235.8 235.4 235.5 228.9 27

 28 U.S.-chartered depository institutions 837.1 683.0 704.8 595.9 511.3 510.1 492.2 485.6 500.6 510.1 524.0 28

 29 Foreign banking offices in U.S. 44.5 29.2 44.2 43.9 57.0 71.3 71.0 72.0 74.2 71.3 75.8 29

 30 Banks in U.S.-affiliated areas 6.5 11.0 11.8 12.0 20.5 33.4 17.4 22.5 21.3 33.4 31.3 30

 31 Credit unions 33.0 74.1 61.9 62.7 61.1 66.4 72.2 68.3 65.0 66.4 76.5 31

 32 Life insurance companies 328.7 305.6 353.4 377.0 404.1 477.2 423.8 437.0 446.2 477.2 503.6 32

 33 Private pension funds 1542.2 1536.6 1668.9 1582.5 1376.7 1336.0 1371.8 1325.3 1352.7 1336.0 1336.3 33

 34 Federal government retirement funds 2674.8 2876.6 2964.3 3054.1 3144.5 3239.2 3168.1 3191.8 3215.5 3239.2 3323.7 34

 35 State and local govt. retirement funds 1338.1 1596.3 1904.0 1884.0 1435.0 1615.2 1501.1 1486.3 1583.6 1615.2 1670.9 35

 36 Money market mutual funds 26.9 23.5 22.7 28.8 31.6 17.3 37.3 16.0 18.8 17.3 16.7 36

 37 Mutual funds 14.9 2.9 5.7 -27.4 -8.3 -12.6 24.4 2.6 23.2 -12.6 -12.6 37

 38 Government-sponsored enterprises 100.3 148.6 148.5 152.6 165.6 154.7 152.1 151.4 149.3 154.7 164.7 38

 39 Finance companies -142.1 -129.0 -138.7 -168.1 -189.5 -180.1 -194.5 -198.7 -181.9 -180.1 -168.7 39

 40 REITs 64.8 66.1 74.7 100.4 112.6 134.2 122.4 133.6 140.6 134.2 140.3 40

 41 Brokers and dealers 910.1 786.0 730.9 639.8 761.4 801.8 890.6 837.4 815.3 801.8 825.1 41

 42 Holding companies 3160.6 3129.4 3165.9 3995.3 4008.3 4119.6 4055.4 4129.6 4083.3 4119.6 4079.5 42

 43 Funding corporations 726.3 667.9 687.6 694.8 707.8 710.8 710.5 723.8 733.1 710.8 729.6 43

 44 Discrepancy -5333.3 -5884.0 -6289.7 -6597.5 -7219.2 -7583.3 -7436.4 -7400.1 -7403.3 -7583.3 -7646.5 44
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L.231 Identified Miscellaneous Financial Claims - Part I

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 Federal government equity in IBRD, etc.:

 1 Liab.: Rest of the world 50.5 52.8 55.4 57.8 60.0 62.4 60.0 61.7 62.2 62.4 62.3 1

 2 Asset: Federal government 50.5 52.8 55.4 57.8 60.0 62.4 60.0 61.7 62.2 62.4 62.3 2

 Federal Reserve Bank stock:

 3 Liab.: Monetary authority 25.6 26.5 26.9 27.4 27.5 28.6 28.1 28.2 28.2 28.6 28.8 3

 4 Asset: U.S.-chartered depository institutions 25.6 26.5 26.9 27.4 27.5 28.6 28.1 28.2 28.2 28.6 28.8 4

 Equity in government-sponsored enterprises:

 5 Liab.: Government-sponsored enterprises 51.8 49.0 43.1 41.2 41.7 42.9 40.6 42.1 42.4 42.9 41.8 5

 6 Asset: Nonfin. corporate business (Fannie Mae and FCS) 0.4 0.6 0.5 0.6 0.6 0.7 0.7 0.7 0.7 0.7 0.8 6

 7 Nonfinancial noncorporate (FCS) 6.3 6.7 7.0 7.2 7.8 8.5 8.0 8.1 8.3 8.5 8.6 7

 8 Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8

 9 U.S.-chartered depository institutions (FHLB) 39.7 36.7 30.6 28.4 27.8 27.3 26.2 27.3 27.2 27.3 25.7 9

 10 Credit unions (FHLB) 2.4 2.2 2.9 2.9 2.4 2.9 2.4 2.6 2.8 2.9 3.0 10

 11 Life insurance companies (FHLB) 2.9 2.9 2.1 2.2 3.2 3.5 3.2 3.4 3.5 3.5 3.7 11

 Holding company net transactions with subsidiaries:

 12 Liab.: U.S.-chartered depository institutions 1599.5 1632.8 1709.0 1889.2 1937.2 2128.3 1978.7 2030.3 2058.9 2128.3 2106.8 12

 13 Property-casualty insurance companies 0.0 0.0 0.0 11.2 5.2 5.3 4.7 5.1 5.1 5.3 3.9 13

 14 Life insurance companies 40.5 62.7 72.0 17.2 10.7 11.5 11.0 11.5 11.5 11.5 11.8 14

 15 Finance companies 209.3 115.0 94.6 91.1 75.4 62.2 63.9 63.1 62.1 62.2 61.1 15

 16 Brokers and dealers 596.1 626.6 613.5 1060.5 1087.6 1088.3 1109.8 1125.0 1085.4 1088.3 1070.9 16

 17 Rest of the world 125.1 135.6 166.3 114.7 97.9 92.2 95.8 100.7 93.8 92.2 102.3 17

 18 Asset: Holding companies 2570.3 2572.7 2655.4 3184.0 3214.0 3387.9 3263.8 3335.9 3316.8 3387.9 3356.9 18

 NFC investment in finance company subsidiaries:

 19 Liab.: Finance companies 71.2 60.7 69.1 71.7 86.4 100.5 103.1 101.9 100.3 100.5 98.7 19

 20 Asset: Nonfinancial corporate business 71.2 60.7 69.1 71.7 86.4 100.5 103.1 101.9 100.3 100.5 98.7 20

 Funding corporations’ investment in subsidiaries:

 21 Liab.: Foreign banking offices in U.S. 203.1 171.6 137.8 126.0 123.5 103.2 123.9 120.8 127.8 103.2 96.2 21

 22 Brokers and dealers 523.2 496.4 549.7 568.8 584.3 607.5 586.6 603.0 605.2 607.5 633.4 22

 23 Asset: Funding corporations 726.3 667.9 687.6 694.8 707.8 710.8 710.5 723.8 733.1 710.8 729.6 23

 Equity investment under Public-Private Inv. Program:

 24 Liab.: Funding corporations 1.8 7.7 8.8 8.7 8.7 8.7 8.7 8.7 8.7 8.7 8.7 24

 25 Asset: Households (1) 0.9 3.8 4.4 4.4 4.4 4.4 4.4 4.4 4.4 4.4 4.4 25

 26 Federal government 0.9 3.8 4.4 4.4 4.4 4.4 4.4 4.4 4.4 4.4 4.4 26

(1) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).
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L.232 Identified Miscellaneous Financial Claims - Part II

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 Nonofficial foreign currencies:

 1 Liab.: Rest of the world 12.9 2.7 102.5 11.5 2.9 4.2 3.0 2.8 2.9 4.2 3.4 1

 2 Asset: Federal government 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2

 3 Monetary authority (1) 10.3 0.1 99.8 8.9 0.3 1.5 0.4 0.1 0.2 1.5 0.8 3

 Postal Savings System deposits:

 4 Liab.: Federal government 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 4

 5 Asset: Household sector 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5

 Deposits at Federal Home Loan Banks:

 6 Liab.: Government-sponsored enterprises 15.9 14.4 12.6 13.7 10.6 9.1 10.4 9.0 9.3 9.1 10.2 6

 7 Asset: U.S.-chartered depository institutions 15.9 14.4 12.6 13.7 10.6 9.1 10.4 9.0 9.3 9.1 10.2 7

 Deferred and unpaid life insurance premiums:

 8 Liab.: Household sector 22.1 24.7 24.3 24.9 27.9 29.1 28.9 30.2 29.6 29.1 30.2 8

 9 Asset: Life insurance companies 22.1 24.7 24.3 24.9 27.9 29.1 28.9 30.2 29.6 29.1 30.2 9

 Life insurance company reserves:

 10 Liab.: Life insurance companies 273.6 290.7 305.5 303.7 304.2 310.0 307.9 311.1 311.5 310.0 313.5 10

 11 Accident and health 192.4 209.4 225.0 222.6 222.8 228.3 226.5 229.5 228.7 228.3 230.2 11

 12 Policy dividend accumulation 39.2 39.7 37.9 38.3 38.5 38.8 38.4 38.9 39.1 38.8 38.5 12

 13 Contract claims 42.0 41.6 42.6 42.8 42.8 42.9 43.1 42.7 43.7 42.9 44.7 13

 14 Asset: Household sector 273.6 290.7 305.5 303.7 304.2 310.0 307.9 311.1 311.5 310.0 313.5 14

 Policy payables:

 15 Liab.: Property-casualty insurance companies 754.8 761.2 796.4 802.1 807.8 822.5 809.3 817.4 824.2 822.5 821.1 15

 16 Asset: Household sector 346.0 310.8 347.5 329.8 369.5 368.5 368.6 370.3 371.4 368.5 369.8 16

 17 Nonfinancial corporate business 307.0 318.7 328.8 336.4 329.8 338.1 330.9 334.8 338.1 338.1 337.1 17

 18 Nonfinancial noncorporate business 101.8 131.7 120.1 135.9 108.5 116.0 109.8 112.4 114.7 116.0 114.2 18

 Unallocated insurance company contracts:

 19 Liab.: Life insurance companies 589.0 620.9 624.7 638.6 668.1 699.6 676.5 689.6 688.2 699.6 707.7 19

 20 Asset: Private pension funds 453.5 469.4 484.6 503.8 537.1 563.0 544.3 553.8 553.7 563.0 569.1 20

 21 State and local government retirement funds 135.5 151.5 140.1 134.7 131.0 136.6 132.3 135.8 134.5 136.6 138.6 21

 Pension fund contributions payable:

 22 Liab.: Nonfinancial corporate business 75.4 90.8 93.8 81.4 80.9 81.7 80.7 81.1 82.0 81.7 83.4 22

 23 Asset: Private pension funds 75.4 90.8 93.8 81.4 80.9 81.7 80.7 81.1 82.0 81.7 83.4 23

 Securities borrowed (net):

 24 Liab.: Funding corporations 856.8 733.4 658.7 579.5 673.5 720.6 794.5 746.5 735.4 720.6 755.4 24

 25 Asset: Brokers and dealers 856.8 733.4 658.7 579.5 673.5 720.6 794.5 746.5 735.4 720.6 755.4 25

 Nonmarketable government securities:

 26 Liab.: Federal government 1077.2 1142.9 1213.7 1254.1 1352.3 1421.1 1339.7 1342.6 1361.8 1421.1 1372.3 26

 27 Asset: Federal government retirement funds 1077.2 1142.9 1213.7 1254.1 1352.3 1421.1 1339.7 1342.6 1361.8 1421.1 1372.3 27

 Retiree health care funds (2):

 28 Liab.: Federal government 180.4 202.9 221.4 234.8 246.9 257.3 246.2 249.0 248.8 257.3 253.2 28

 29 Asset: Household sector 180.4 202.9 221.4 234.8 246.9 257.3 246.2 249.0 248.8 257.3 253.2 29

 Claims of pension fund on sponsor (3):

 30 Liab.: Nonfinancial corporate business 497.6 446.5 517.2 389.8 131.4 19.4 103.8 31.7 49.7 19.4 4.0 30

 31 Federal government 1597.6 1733.7 1750.7 1800.0 1792.1 1818.0 1828.4 1849.3 1853.7 1818.0 1951.5 31

 32 State and local governments 1116.9 1343.4 1661.0 1649.3 1192.8 1358.6 1254.9 1233.1 1329.9 1358.6 1414.3 32

 33 Asset: Private pension funds 497.6 446.5 517.2 389.8 131.4 19.4 103.8 31.7 49.7 19.4 4.0 33

 34 Federal government retirement funds 1597.6 1733.7 1750.7 1800.0 1792.1 1818.0 1828.4 1849.3 1853.7 1818.0 1951.5 34

 35 State and local govt. retirement funds 1116.9 1343.4 1661.0 1649.3 1192.8 1358.6 1254.9 1233.1 1329.9 1358.6 1414.3 35

(1) Reciprocal currency arrangements (swap lines) with foreign central banks.

(2) Includes Uniform Services Retiree Health Care Fund and Postal Service Retiree Health Benefits Fund.

(3) Assets of the household sector.
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L.233 Unidentified Miscellaneous Financial Claims

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Total liabilities 5231.9 5050.5 4954.8 5284.0 5276.1 5472.2 5169.2 5330.4 5437.0 5472.2 5483.9 1

 2 Nonfinancial corporate business 2567.5 2758.3 2905.4 3209.3 3545.2 3712.5 3556.4 3683.7 3697.9 3712.5 3703.7 2

 3 Nonfinancial noncorporate business 1243.3 1189.0 1168.0 1219.7 1134.3 1140.9 1131.9 1134.1 1134.3 1140.9 1155.7 3

 4 Federal government 4.0 3.6 3.2 2.8 2.3 1.8 2.2 2.0 1.9 1.8 1.6 4

 5 Monetary authority 2.5 30.4 2.8 6.3 16.0 18.4 19.8 21.9 22.2 18.4 21.6 5

 6 U.S.-chartered depository institutions 687.3 614.7 527.1 557.2 578.9 717.8 586.6 614.3 679.1 717.8 750.3 6

 7 Foreign banking offices in U.S. 120.4 121.4 165.3 141.4 110.8 119.4 111.9 111.5 120.3 119.4 129.3 7

 8 Banks in U.S.-affiliated areas 29.2 23.3 19.4 17.3 14.3 12.7 14.8 15.3 12.6 12.7 11.8 8

 9 Credit unions 19.4 11.1 12.4 12.7 14.2 15.4 13.8 16.1 16.9 15.4 18.0 9

 10 Life insurance companies 189.1 187.9 177.2 262.1 283.1 295.7 293.1 306.3 296.5 295.7 305.5 10

 11 Government-sponsored enterprises 201.6 115.9 74.5 69.2 62.4 59.0 60.2 59.9 61.0 59.0 58.0 11

 12 Finance companies 203.1 -18.4 9.3 -19.9 -26.9 -43.0 -34.7 -41.1 -40.0 -43.0 -38.7 12

 13 REITs 59.6 63.7 70.8 96.3 74.6 88.2 81.1 85.5 87.3 88.2 87.1 13

 14 Brokers and dealers -733.7 -728.3 -788.1 -1261.8 -1263.1 -1307.0 -1283.1 -1317.6 -1300.2 -1307.0 -1309.0 14

 15 Holding companies 550.9 524.6 484.4 822.3 739.4 708.2 736.4 743.9 718.7 708.2 699.0 15

 16 Funding corporations 87.4 152.9 122.8 148.9 -9.7 -68.0 -121.5 -105.8 -71.7 -68.0 -110.1 16

 17 Total assets 10565.2 10934.4 11244.5 11881.6 12495.4 13055.5 12605.6 12730.4 12840.3 13055.5 13130.3 17

 18 Nonfinancial corporate business 5915.5 6327.4 6383.6 6535.6 7000.1 7324.4 7014.6 7111.1 7154.9 7324.4 7289.4 18

 19 Nonfinancial noncorporate business 1921.3 1996.0 2109.5 2316.4 2384.8 2509.4 2396.9 2430.3 2454.2 2509.4 2551.8 19

 20 Federal government 94.3 84.5 83.2 79.8 83.4 93.6 86.2 89.5 91.7 93.6 96.3 20

 21 State and local governments 118.7 96.8 95.6 101.9 106.7 118.1 109.6 113.5 114.8 118.1 124.6 21

 22 Monetary authority 64.6 81.5 124.0 190.6 232.8 233.9 234.6 235.6 235.2 233.9 228.1 22

 23 U.S.-chartered depository institutions 755.9 605.3 634.8 526.3 445.4 445.2 427.6 421.1 435.9 445.2 459.2 23

 24 Foreign banking offices in U.S. 44.5 29.2 44.2 43.9 57.0 71.3 71.0 72.0 74.2 71.3 75.8 24

 25 Banks in U.S.-affiliated areas 6.5 11.0 11.8 12.0 20.5 33.4 17.4 22.5 21.3 33.4 31.3 25

 26 Credit unions 30.6 71.9 59.1 59.8 58.8 63.5 69.9 65.7 62.2 63.5 73.5 26

 27 Life insurance companies 303.7 278.0 327.0 349.9 373.1 444.6 391.7 403.4 413.1 444.6 469.6 27

 28 Private pension funds 515.7 529.9 573.3 607.4 627.4 671.8 643.0 658.7 667.3 671.8 679.9 28

 29 State and local govt. retirement funds 85.7 101.4 102.8 100.0 111.2 119.9 113.9 117.5 119.2 119.9 118.0 29

 30 Mutual funds 14.9 2.9 5.7 -27.4 -8.3 -12.6 24.4 2.6 23.2 -12.6 -12.6 30

 31 Money market mutual funds 26.9 23.5 22.7 28.8 31.6 17.3 37.3 16.0 18.8 17.3 16.7 31

 32 Government-sponsored enterprises 100.3 148.6 148.5 152.6 165.6 154.7 152.1 151.4 149.3 154.7 164.7 32

 33 Finance companies -142.1 -129.0 -138.7 -168.1 -189.5 -180.1 -194.5 -198.7 -181.9 -180.1 -168.7 33

 34 REITs 64.8 66.1 74.7 100.4 112.6 134.2 122.4 133.6 140.6 134.2 140.3 34

 35 Brokers and dealers 53.2 52.6 72.2 60.3 87.9 81.2 96.1 90.9 79.9 81.2 69.7 35

 36 Holding companies 590.3 556.7 510.4 811.3 794.3 731.7 791.5 793.7 766.5 731.7 722.7 36

 37 Discrepancy -5333.3 -5884.0 -6289.7 -6597.5 -7219.2 -7583.3 -7436.4 -7400.1 -7403.3 -7583.3 -7646.5 37
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B.101 Balance Sheet of Households and Nonprofit Organizations (1)

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Assets 72333.2 76239.9 77449.5 83501.9 93054.2 97464.9 94108.0 95673.4 95725.5 97464.9 99076.3 1

 2 Nonfinancial assets 23715.2 23351.7 23378.2 25084.0 27702.2 29150.2 28100.3 28384.8 28718.6 29150.2 29693.7 2

 3 Real estate 18758.8 18383.2 18252.6 19826.4 22328.9 23615.4 22697.3 22932.3 23217.1 23615.4 24118.7 3

 4 Households (2,3) 16989.0 16408.7 16091.8 17520.7 19654.9 20693.8 20012.3 20163.9 20379.3 20693.8 21104.4 4

 5 Nonprofit organizations 1769.8 1974.4 2160.9 2305.7 2674.0 2921.5 2685.0 2768.5 2837.8 2921.5 3014.2 5

 6 Equipment (nonprofits) (4) 271.9 280.1 293.0 299.7 306.9 318.5 309.2 312.1 315.3 318.5 321.8 6

 7 Intellectual property products (nonprofits) (4) 96.4 101.8 109.4 117.7 124.1 130.8 126.1 127.9 129.4 130.8 132.2 7

 8 Consumer durable goods (4) 4588.1 4586.7 4723.3 4840.1 4942.2 5085.5 4967.6 5012.5 5056.9 5085.5 5121.1 8

 9 Financial assets 48618.0 52888.2 54071.3 58417.9 65352.0 68314.7 66007.7 67288.6 67006.9 68314.7 69382.6 9

 10 Deposits 8097.7 8071.0 8716.1 9239.0 9600.2 10144.1 9760.6 9771.4 9897.4 10144.1 10287.2 10

 11 Foreign deposits 62.7 67.3 57.4 49.7 52.5 47.0 51.5 50.3 53.2 47.0 44.9 11

 12 Checkable deposits and currency 396.1 423.7 728.8 892.1 1013.6 1127.5 1059.9 1078.2 1060.6 1127.5 1154.2 12

 13 Time and savings deposits 6326.0 6450.8 6820.0 7187.1 7398.4 7867.4 7550.0 7573.4 7695.8 7867.4 8057.1 13

 14 Money market fund shares 1312.9 1129.2 1109.9 1110.2 1135.7 1102.1 1099.2 1069.5 1087.7 1102.1 1030.9 14

 15 Credit market instruments 4835.3 4915.1 4395.5 4208.9 3856.9 3314.5 3666.5 3502.7 3419.0 3314.5 3271.4 15

 16 Open market paper 22.7 21.1 19.4 18.8 15.0 14.9 15.9 16.1 15.9 14.9 15.2 16

 17 Treasury securities 853.3 1122.6 717.0 943.1 956.6 696.7 900.4 721.1 704.9 696.7 640.2 17

 18 Agency- and GSE-backed securities 356.4 334.2 299.3 176.8 141.1 41.3 55.6 60.8 43.8 41.3 42.6 18

 19 Municipal securities 1827.9 1871.4 1805.7 1661.2 1605.9 1540.0 1602.4 1600.7 1552.7 1540.0 1554.4 19

 20 Corporate and foreign bonds 1548.5 1361.1 1355.3 1235.4 976.9 874.9 932.9 952.4 953.1 874.9 876.1 20

 21 Other loans and advances (5) 26.8 26.2 23.4 20.9 25.9 24.3 26.6 22.2 23.0 24.3 24.4 21

 22 Mortgages 110.9 100.1 100.9 87.1 76.2 68.8 74.5 72.5 70.5 68.8 66.7 22

 23 Consumer credit (student loans) 88.8 78.4 74.5 65.6 59.3 53.6 58.1 57.0 55.2 53.6 51.9 23

 24 Corporate equities (2) 7255.8 8696.2 8498.4 9676.3 12501.8 13360.7 12580.0 13307.1 12777.4 13360.7 13640.8 24

 25 Mutual fund shares (6) 4100.4 4605.0 4622.5 5630.4 7023.0 7695.3 7292.8 7579.3 7553.1 7695.3 7918.8 25

 26 Security credit 701.7 725.2 726.1 757.0 815.5 869.0 866.2 866.6 892.5 869.0 870.5 26

 27 Life insurance reserves 1109.5 1137.5 1199.3 1186.4 1233.0 1282.8 1242.6 1256.7 1263.3 1282.8 1304.8 27

 28 Pension entitlements (7) 15458.1 17035.7 17447.7 18460.8 19893.7 20783.7 20093.4 20402.1 20476.3 20783.7 20991.9 28

 29 Equity in noncorporate business (8) 6258.6 6894.2 7587.0 8386.5 9502.9 9924.7 9578.5 9668.0 9791.8 9924.7 10156.2 29

 30 Miscellaneous assets 800.9 808.2 878.8 872.7 924.9 940.1 927.1 934.7 936.2 940.1 940.9 30

 31 Liabilities 14062.8 13782.3 13570.9 13637.8 13792.5 14168.9 13780.6 13949.1 14075.3 14168.9 14151.6 31

 32 Credit market instruments 13559.6 13230.6 13057.8 13055.1 13170.4 13512.1 13175.1 13286.6 13398.1 13512.1 13508.6 32

 33 Home mortgages (9) 10419.4 9915.6 9695.9 9490.2 9405.9 9403.1 9373.9 9370.2 9386.3 9403.1 9370.5 33

 34 Consumer credit 2552.3 2646.9 2755.4 2922.9 3098.8 3317.2 3105.0 3171.9 3249.0 3317.2 3321.6 34

 35 Municipal securities (10) 265.4 263.2 255.5 241.0 227.8 223.1 227.6 227.0 224.6 223.1 223.0 35

 36 Depository institution loans n.e.c. -15.9 61.0 11.5 62.6 92.7 212.9 123.0 168.4 186.7 212.9 235.1 36

 37 Other loans and advances 133.7 136.1 138.1 139.3 141.3 144.2 141.0 142.6 143.0 144.2 144.6 37

 38 Commercial mortgages (10) 204.7 207.7 201.4 199.1 203.9 211.7 204.5 206.4 208.3 211.7 213.7 38

 39 Security credit 203.0 278.2 238.9 303.7 339.2 369.5 320.6 375.4 390.3 369.5 354.3 39

 40 Trade payables (10) 278.2 248.8 250.0 254.0 255.0 258.1 256.0 256.9 257.4 258.1 258.5 40

 41 Deferred and unpaid life insurance premiums 22.1 24.7 24.3 24.9 27.9 29.1 28.9 30.2 29.6 29.1 30.2 41

 42 Net worth 58270.4 62457.6 63878.6 69864.2 79261.7 83296.0 80327.4 81724.3 81650.2 83296.0 84924.6 42

 Memo:

 43 Assets held in IRAs (11) 4488.0 5029.0 5241.0 5907.0 6966.0 7443.0 7084.0 7325.0 7343.0 7443.0 ND 43

 44 Assets held in 529 college plans (11) 133.7 157.4 164.9 190.7 227.1 247.9 234.1 244.5 243.2 247.9 252.4 44

 45 College savings plans 117.0 138.2 145.0 168.6 205.2 223.9 211.1 220.2 219.1 223.9 228.1 45

 46 Prepaid tuition plans 16.7 19.2 19.8 22.1 21.9 24.0 23.0 24.2 24.1 24.0 24.3 46

 Replacement-cost value of structures:

 47 Residential 12680.7 12730.1 12845.4 13228.8 14187.3 15086.0 14518.8 14584.5 14879.2 15086.0 15112.8 47

 48 Households 12479.0 12526.6 12641.9 13020.5 13967.6 14851.9 14293.8 14358.5 14648.5 14851.9 14878.3 48

 49 Nonprofit organizations 201.7 203.5 203.4 208.3 219.7 234.0 225.0 226.1 230.7 234.0 234.6 49

 50 Nonresidential (nonprofits) 1409.3 1420.7 1464.6 1508.4 1596.2 1640.9 1609.0 1618.7 1632.3 1640.9 1640.9 50

 51 Disposable personal income (DPI) (SAAR) 10942.5 11237.9 11801.4 12384.0 12505.1 12990.0 12772.9 12945.2 13061.2 13180.7 13285.4 51

 52 Net worth/DPI (percent) (line 42/line 51) 532.5 555.8 541.3 564.1 633.8 641.2 628.9 631.3 625.1 632.0 639.2 52

 53 Owners’ equity in real estate (line 4 less line 33) 6569.6 6493.2 6395.9 8030.5 10249.0 11290.8 10638.4 10793.7 10993.0 11290.8 11733.9 53

 54 Owners’ equity/real estate (percent) (line 53/line 4) 38.7 39.6 39.7 45.8 52.1 54.6 53.2 53.5 53.9 54.6 55.6 54

(1) Sector includes domestic hedge funds, private equity funds, and personal trusts.

(2) At market value.

(3) All types of owner-occupied housing including farm houses and mobile homes, as well as second homes that are not rented, vacant homes for sale, and vacant land.

(4) At replacement (current) cost.

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

(6) Value based on the market values of equities held and the book value of other assets held by mutual funds.

(7) 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) Net worth of nonfinancial noncorporate business (table B.104, line 34) and owners’ equity in unincorporated security brokers and dealers.

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

(10) Liabilities of nonprofit organizations.

(11) Included in assets shown on the household balance sheet.
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134 Z.1, June 11, 2015

B.103 Balance Sheet of Nonfinancial Corporate Business

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 With nonfinancial assets stated at either market value or replacement cost:

 1 Assets 27183.5 28957.9 30545.3 31979.4 34916.5 37028.4 35141.8 35904.3 36390.6 37028.4 37554.8 1

 2 Nonfinancial assets 13866.1 14941.1 16039.7 16894.5 18578.1 19922.8 18731.4 19183.6 19535.9 19922.8 20312.2 2

 3 Real estate (1) 6767.6 7545.7 8275.3 8823.6 10252.9 11288.4 10305.1 10663.0 10943.3 11288.4 11631.3 3

 4 Equipment (2) 3793.1 3853.6 4008.0 4138.0 4261.7 4446.2 4300.2 4346.0 4395.4 4446.2 4498.2 4

 5 Intellectual property products (2) 1600.7 1669.1 1746.9 1839.4 1916.9 1996.5 1942.5 1964.5 1982.3 1996.5 2015.3 5

 6 Inventories (2) 1704.6 1872.7 2009.6 2093.6 2146.6 2191.7 2183.6 2210.0 2214.8 2191.7 2167.4 6

 7 Financial assets 13317.5 14016.8 14505.6 15084.9 16338.4 17105.6 16410.4 16720.7 16854.7 17105.6 17242.6 7

 8 Foreign deposits 31.5 40.6 34.8 35.4 78.1 72.1 67.4 77.9 80.2 72.1 73.7 8

 9 Checkable deposits and currency 154.9 234.5 264.2 218.4 303.5 368.6 270.9 326.2 349.6 368.6 361.3 9

 10 Time and savings deposits 488.8 548.7 561.9 595.2 636.2 646.9 655.0 655.1 624.8 646.9 654.2 10

 11 Money market fund shares 655.5 497.8 462.4 519.4 559.1 565.2 527.1 516.1 529.1 565.2 548.5 11

 12 Security repurchase agreements 7.9 12.1 12.6 9.7 8.8 13.5 11.3 13.5 13.4 13.5 12.8 12

 13 Credit market instruments 222.5 228.9 221.8 209.0 184.6 167.9 176.6 170.9 168.8 167.9 170.2 13

 14 Commercial paper 56.0 68.0 67.9 59.5 38.2 31.6 35.1 29.2 30.0 31.6 31.0 14

 15 Treasury securities 43.0 48.0 43.0 39.4 42.8 38.3 40.8 40.6 40.0 38.3 39.6 15

 16 Agency- and GSE-backed securities 14.3 16.0 14.3 13.1 10.3 12.8 11.6 13.5 13.3 12.8 13.2 16

 17 Municipal securities 27.1 23.9 22.3 22.9 21.8 13.2 18.2 16.1 13.2 13.2 15.0 17

 18 Mortgages 29.5 28.0 27.4 25.5 27.4 29.2 27.8 28.3 28.7 29.2 29.6 18

 19 Consumer credit 52.6 45.0 46.9 48.4 44.2 43.0 43.1 43.3 43.5 43.0 41.9 19

 20 Mutual fund shares (1) 162.0 186.8 165.9 179.6 211.0 234.9 217.1 226.5 227.6 234.9 240.5 20

 21 Trade receivables 2055.1 2157.1 2240.8 2292.8 2570.0 2678.9 2640.7 2720.5 2736.4 2678.9 2763.6 21

 22 U.S. direct investment abroad (3) 3245.1 3402.9 3759.2 4081.0 4370.0 4594.1 4394.9 4465.6 4530.7 4594.1 4691.7 22

 23 Miscellaneous assets 6294.1 6707.4 6782.0 6944.3 7416.9 7763.6 7449.4 7548.5 7594.0 7763.6 7725.9 23

 24 Liabilities 12903.6 13226.7 13878.4 14695.2 15471.1 16177.4 15572.6 15804.6 16001.4 16177.4 16403.4 24

 25 Credit market instruments 6150.9 6013.1 6308.0 6714.1 7115.3 7579.2 7263.4 7345.6 7448.9 7579.2 7717.7 25

 26 Commercial paper 58.4 82.9 116.3 130.3 144.5 182.4 180.2 185.9 208.5 182.4 187.6 26

 27 Municipal securities (4) 452.2 485.4 493.9 509.1 518.5 518.4 517.7 516.4 514.8 518.4 525.1 27

 28 Corporate bonds (3) 3197.0 3376.3 3538.3 3861.8 4141.5 4406.4 4213.2 4272.1 4321.7 4406.4 4518.9 28

 29 Depository institution loans n.e.c. 545.8 477.1 569.2 658.4 708.3 794.1 719.3 748.6 762.3 794.1 811.9 29

 30 Other loans and advances 1139.0 948.1 1008.3 1036.8 1063.6 1126.7 1095.6 1080.8 1095.9 1126.7 1125.4 30

 31 Mortgages 758.5 643.3 581.9 517.7 538.9 551.1 537.4 541.8 545.8 551.1 548.9 31

 32 Trade payables 1590.1 1746.4 1771.6 1837.8 1943.2 2027.3 1947.3 1987.4 2004.1 2027.3 2035.3 32

 33 Taxes payable 35.7 42.9 51.7 54.0 44.9 45.3 51.1 47.0 54.8 45.3 68.9 33

 34 Foreign direct investment in U.S. 1986.4 2128.7 2230.7 2408.9 2610.3 2712.0 2569.9 2628.1 2663.8 2712.0 2790.4 34

 35 Miscellaneous liabilities 3140.5 3295.6 3516.4 3680.5 3757.5 3813.6 3740.9 3796.5 3829.7 3813.6 3791.1 35

 36 Net worth (market value) 14279.9 15731.2 16666.9 17284.2 19445.4 20851.0 19569.2 20099.8 20389.2 20851.0 21151.3 36

 Memo:

 Replacement-cost value of structures:

 37 Residential 163.5 166.3 165.7 168.6 175.0 185.9 179.0 179.8 183.4 185.9 186.2 37

 38 Nonresidential 6901.5 7123.9 7425.5 7620.7 7933.5 8169.0 7999.5 8051.0 8122.1 8169.0 8170.9 38

 39 Market value of equities outstanding 12512.2 14356.5 14369.4 15961.6 20718.3 22283.4 20921.0 21891.0 21444.5 22283.4 22443.9 39

 40 Debt/net worth (percent) (line 25/line 36) 43.1 38.2 37.8 38.8 36.6 36.3 37.1 36.5 36.5 36.3 36.5 40

 41 Debt/equities (percent) (line 25/line 39) 49.2 41.9 43.9 42.1 34.3 34.0 34.7 33.6 34.7 34.0 34.4 41

 42 Equities/net worth (percent) (line 39/line 36) 87.6 91.3 86.2 92.3 106.5 106.9 106.9 108.9 105.2 106.9 106.1 42

 With nonfinancial assets stated at historical cost:

 43 Assets (sum of lines 7 and 44) 23978.6 25006.1 25954.2 27029.9 28791.4 30111.6 29048.4 29468.2 29755.7 30111.6 30434.2 43

 44 Nonfinancial assets 10661.2 10989.4 11448.7 11945.0 12453.1 13006.0 12638.0 12747.5 12901.0 13006.0 13191.6 44

 45 Real estate 4213.2 4377.1 4537.7 4725.0 4920.1 5143.5 4975.1 5029.1 5086.5 5143.5 5203.3 45

 46 Equipment 3445.1 3482.4 3592.0 3727.3 3875.8 4048.7 3914.4 3956.8 4002.9 4048.7 4095.1 46

 47 Intellectual property products 1510.0 1570.3 1637.6 1707.5 1781.5 1869.2 1801.3 1822.2 1844.7 1869.2 1893.7 47

 48 Inventories 1492.7 1559.5 1681.4 1785.3 1875.7 1944.6 1947.2 1939.4 1966.9 1944.6 1999.5 48

 49 Net worth (historical cost) (line 43 less line 24) 11075.0 11779.4 12075.8 12334.7 13320.4 13934.2 13475.7 13663.6 13754.3 13934.2 14030.8 49

 Memo:

 Historical-cost value of structures:

 50 Residential 80.7 81.6 82.7 84.5 87.2 90.2 87.9 88.6 89.4 90.2 91.0 50

 51 Nonresidential 3686.2 3808.7 3949.4 4126.9 4307.9 4518.3 4357.7 4410.0 4463.5 4518.3 4567.3 51

 52 Debt/net worth (percent) (line 25/line 49) 55.5 51.0 52.2 54.4 53.4 54.4 53.9 53.8 54.2 54.4 55.0 52

 (1) At market value.

 (2) At replacement (current) cost.

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

 (4) Industrial revenue bonds. Issued by state and local governments to finance private investment and secured in interest and principal by the industrial user of the funds.
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Z.1, June 11, 2015 135

B.104 Balance Sheet of Nonfinancial Noncorporate Business

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Assets 11974.8 12550.4 13278.2 14267.3 15433.2 16109.5 15525.8 15686.5 15860.3 16109.5 16435.2 1

 2 Nonfinancial assets 8398.4 8822.1 9363.6 10050.9 11139.5 11581.1 11208.9 11308.0 11436.9 11581.1 11824.2 2

 3 Real estate (1) 7296.4 7666.3 8134.9 8782.9 9842.4 10409.1 9925.6 10052.4 10223.4 10409.1 10686.3 3

 4 Residential 4273.4 4411.1 4599.9 4975.9 5541.7 5822.2 5608.7 5636.5 5730.3 5822.2 6022.5 4

 5 Nonresidential 3023.0 3255.2 3535.0 3807.0 4300.7 4587.0 4316.9 4415.9 4493.1 4587.0 4663.9 5

 6 Equipment (2) 696.3 709.2 740.7 763.2 784.9 742.9 780.0 770.2 756.4 742.9 729.4 6

 7 Residential (3) 44.0 42.2 43.9 44.3 43.3 41.9 43.4 42.5 42.4 41.9 41.6 7

 8 Nonresidential 652.4 667.0 696.8 718.9 741.5 701.0 736.5 727.7 713.9 701.0 687.8 8

 9 Intellectual property products (2) 183.2 189.9 196.6 206.4 214.9 124.8 198.2 178.5 154.4 124.8 107.9 9

 10 Inventories (2) 222.5 256.9 291.3 298.5 297.3 304.3 305.1 306.9 302.7 304.3 300.5 10

 11 Financial assets 3576.3 3728.3 3914.6 4216.4 4293.7 4528.3 4316.9 4378.4 4423.4 4528.3 4611.0 11

 12 Checkable deposits and currency 534.4 531.6 552.7 612.2 614.6 648.5 618.4 627.5 634.4 648.5 658.0 12

 13 Time and savings deposits 353.3 356.2 362.2 372.3 383.1 410.2 385.0 390.3 394.2 410.2 429.3 13

 14 Money market fund shares 73.7 76.8 77.7 80.7 83.0 87.3 83.4 84.6 85.4 87.3 88.7 14

 15 Credit market instruments 89.1 95.8 91.1 92.9 95.5 100.4 96.0 97.3 98.3 100.4 102.1 15

 16 Treasury securities 46.1 48.1 48.9 52.9 54.5 57.2 54.7 55.5 56.0 57.2 58.2 16

 17 Municipal securities 5.1 5.6 5.9 6.1 6.3 6.6 6.3 6.4 6.4 6.6 6.7 17

 18 Mortgages 37.9 42.1 36.3 33.9 34.8 36.6 35.0 35.5 35.8 36.6 37.2 18

 19 Consumer credit 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Trade receivables 496.3 533.4 594.4 598.9 616.3 647.9 619.3 627.9 634.1 647.9 658.4 20

 21 Miscellaneous assets 2029.5 2134.4 2236.6 2459.4 2501.1 2634.0 2514.8 2550.8 2577.1 2634.0 2674.6 21

 22 Insurance receivables 101.8 131.7 120.1 135.9 108.5 116.0 109.8 112.4 114.7 116.0 114.2 22

 23 Equity investment in GSEs (4) 6.3 6.7 7.0 7.2 7.8 8.5 8.0 8.1 8.3 8.5 8.6 23

 24 Other 1921.3 1996.0 2109.5 2316.4 2384.8 2509.4 2396.9 2430.3 2454.2 2509.4 2551.8 24

 25 Liabilities 5731.0 5672.2 5703.0 5898.1 5947.9 6204.3 5965.6 6036.9 6087.4 6204.3 6299.2 25

 26 Credit market instruments 3985.4 3950.9 3946.6 4068.2 4182.8 4399.9 4198.6 4257.6 4301.6 4399.9 4460.2 26

 27 Depository institution loans n.e.c. 944.2 927.4 960.9 1021.7 1067.9 1139.0 1067.1 1097.8 1104.4 1139.0 1163.3 27

 28 Other loans and advances 172.1 170.8 171.3 180.7 186.9 196.4 187.8 188.5 190.4 196.4 194.7 28

 29 Mortgages 2869.0 2852.7 2814.3 2865.8 2928.0 3064.6 2943.7 2971.4 3006.8 3064.6 3102.3 29

 30 Trade payables 397.6 427.8 482.7 496.2 512.7 538.0 516.2 524.1 529.1 538.0 552.8 30

 31 Taxes payable 99.9 99.2 99.7 107.4 110.9 117.4 111.5 113.3 114.6 117.4 122.1 31

 32 Foreign direct investment in U.S. 4.8 5.3 6.1 6.6 7.3 8.2 7.5 7.7 7.9 8.2 8.4 32

 33 Miscellaneous liabilities 1243.3 1189.0 1168.0 1219.7 1134.3 1140.9 1131.9 1134.1 1134.3 1140.9 1155.7 33

 34 Net worth (5) 6243.8 6878.3 7575.2 8369.2 9485.3 9905.1 9560.1 9649.6 9772.9 9905.1 10136.0 34

 Memo:

 Replacement-cost value of structures:

 35 Residential 2815.4 2839.6 2831.2 2870.4 2989.8 3161.4 3055.5 3064.7 3122.2 3161.4 3162.6 35

 36 Nonresidential 1661.6 1680.2 1730.1 1774.5 1853.4 1859.3 1860.5 1860.5 1863.6 1859.3 1852.5 36

 37 Debt/net worth (percent) (line 26/line 34) 63.8 57.4 52.1 48.6 44.1 44.4 43.9 44.1 44.0 44.4 44.0 37

(1) At market value.

(2) At replacement (current) cost.

(3) Durable goods in rental properties.

(4) Equity in the Farm Credit System.

(5) Included in table B.101, line 29.
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136 Z.1, June 11, 2015

R.101 Change in Net Worth of Households and Nonprofit Organizations

Billions of dollars; not seasonally adjusted

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) 1778.3 4187.3 1421.0 5985.5 9397.5 4034.3 1065.7 1396.9 -74.1 1645.8 1628.6 1

 2 Net investment 708.6 1033.8 1511.4 1343.5 1162.4 1226.6 407.7 157.5 184.9 476.5 544.2 2

 3 Net physical investment 109.8 134.9 164.8 249.1 328.7 382.3 84.7 95.2 100.8 101.6 99.0 3

 4 Capital expenditures 1429.3 1448.9 1501.3 1614.3 1740.4 1811.3 437.8 450.1 459.5 463.8 463.4 4

 5 - Consumption of fixed capital 1319.5 1314.0 1336.5 1365.2 1411.7 1429.0 353.1 355.0 358.7 362.2 364.5 5

 6 Net lending (+) or net borrowing (-) 598.8 898.9 1346.6 1094.5 833.7 844.3 323.0 62.3 84.1 374.9 445.3 6

 7 Net acquisition of financial assets 674.8 793.3 1276.5 1363.4 1076.2 1265.4 325.1 242.7 221.7 475.8 444.7 7

 8 - Net increase in liabilities 75.9 -105.6 -70.1 269.0 242.5 421.1 2.1 180.4 137.6 100.9 -0.5 8

 Holding gains on assets

 9 at market value (2) 544.0 2429.5 12.0 4415.6 8090.6 2865.8 732.5 1275.3 -328.2 1186.3 1037.2 9

 10 Real estate -1118.4 -400.5 -158.3 1518.9 2383.1 1168.6 342.6 206.2 253.7 366.1 472.5 10

 11 Corporate equities 1512.9 1624.3 48.8 1372.7 2856.2 830.4 207.2 658.8 -505.4 469.8 213.4 11

 12 Mutual fund shares 465.4 256.7 -267.9 316.8 781.6 152.4 55.1 154.7 -118.6 61.2 44.9 12

 13 Equity in noncorporate business -1133.5 453.3 524.4 667.7 1036.4 368.7 55.4 81.4 107.5 124.3 225.2 13

 14 Life insurance reserves 34.8 21.7 -7.4 18.9 27.5 4.4 1.7 3.7 -5.0 3.9 2.7 14

 15 Pension entitlements 783.1 474.9 -127.4 520.8 1005.9 341.4 70.5 170.4 -60.5 161.0 78.5 15

 16 Equity investment under PPIP -0.3 -1.0 -0.2 -0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

 Holding gains on assets

 17 at current cost (2) -47.4 -91.1 22.4 -38.9 -91.1 -99.9 -28.3 -16.2 -19.9 -35.5 -26.3 17

 18 Consumer durable goods -40.8 -88.3 17.7 -41.5 -92.2 -111.0 -31.2 -19.1 -22.5 -38.2 -28.7 18

 19 Equipment -4.7 -2.4 2.5 -0.1 -0.3 7.5 1.5 1.8 1.9 2.1 2.0 19

 20 Intellectual property products -2.0 -0.4 2.2 2.8 1.4 3.7 1.3 1.0 0.7 0.6 0.4 20

 21 Other volume changes (3) 573.2 815.1 -124.8 265.3 235.6 41.7 -46.2 -19.6 89.1 18.5 73.5 21

 Memo:

 22 Net worth outstanding (4) 58270.4 62457.6 63878.6 69864.2 79261.7 83296.0 80327.4 81724.3 81650.2 83296.0 84924.6 22

 23 Disposable personal income 10942.5 11237.9 11801.4 12384.0 12505.1 12990.0 12772.9 12945.2 13061.2 13180.7 13285.4 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 42.
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R.103 Change in Net Worth of Nonfinancial Corporate Business

Billions of dollars; not seasonally adjusted

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) -2010.7 1451.2 935.8 617.2 2161.2 1405.6 123.8 530.5 289.5 461.8 300.3 1

 2 Net investment 421.0 78.5 -593.1 -518.5 10.0 -229.4 -127.9 20.9 -122.9 0.4 -199.3 2

 3 Net physical investment -76.3 184.0 262.4 305.3 293.5 394.6 89.5 100.5 104.9 99.7 89.5 3

 4 Capital expenditures 1020.8 1235.4 1331.9 1478.0 1525.8 1674.8 399.4 415.8 427.7 432.0 431.8 4

 5 - Consumption of fixed capital 1090.4 1092.4 1137.8 1182.2 1228.9 1280.7 316.0 318.5 321.7 324.4 327.1 5

 6 - Inventory valuation adjustment 6.7 -41.0 -68.3 -9.5 3.3 -0.5 -6.2 -3.2 1.0 7.9 15.2 6

 7 Net lending (+) or net borrowing (-) 548.5 145.2 -400.9 -478.9 69.4 -236.5 -91.9 -11.3 -119.3 -14.0 -153.3 7

 8 Net acquisition of financial assets 299.8 632.7 493.4 506.2 1070.5 676.6 59.6 273.7 134.9 208.4 124.4 8

 9 - Net increase in liabilities -248.7 487.6 894.3 985.1 1001.1 913.0 151.5 285.0 254.2 222.3 277.8 9

 10 Net corporate equity issues -51.2 -250.7 -454.6 -344.9 -352.9 -387.5 -125.5 -68.3 -108.6 -85.2 -135.4 10

 Holding gains on assets

 11 at market value (2) -2625.8 738.2 676.8 493.6 1392.4 929.5 23.7 339.4 247.5 318.9 313.0 11

 12 Real estate -2646.3 724.5 684.9 478.2 1361.9 921.0 21.5 333.8 250.2 315.5 311.1 12

 13 Mutual fund shares 20.4 13.6 -8.1 15.4 30.4 8.5 2.2 5.6 -2.7 3.4 1.8 13

 Holding gains on assets less

 14 liabilities at current cost (2) 151.3 1.9 181.2 84.2 11.6 -90.9 -46.6 14.7 19.2 -78.1 -17.0 14

 15 Equipment -16.1 41.1 76.6 30.1 8.6 43.4 7.6 11.4 11.3 13.0 13.6 15

 16 Intellectual property products 3.1 22.5 27.9 43.5 26.1 15.6 11.7 7.1 1.3 -4.4 0.4 16

 17 Inventories (3) 31.6 69.1 33.7 12.7 -0.3 -21.8 22.6 2.8 -13.0 -34.1 -31.0 17

 18 Direct investment abroad -35.7 -145.6 -47.6 5.9 -28.4 -106.2 -17.8 -14.1 -27.6 -46.7 0.0 18

 19 - Foreign direct investment in U.S. -168.5 -14.8 -90.7 8.1 -5.7 21.9 70.7 -7.6 -47.2 6.0 0.0 19

 20 Other volume changes (4) 42.8 632.7 670.8 558.0 747.2 796.5 274.5 155.6 145.7 220.6 203.6 20

 Memo:

 21 Net worth outstanding (5) 14279.9 15731.2 16666.9 17284.2 19445.4 20851.0 19569.2 20099.8 20389.2 20851.0 21151.3 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 36.
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138 Z.1, June 11, 2015

R.104 Change in Net Worth of Nonfinancial Noncorporate Business

Billions of dollars; not seasonally adjusted

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Change in net worth (1) -1233.7 634.5 696.9 794.1 1116.1 419.9 74.9 89.5 123.3 132.3 230.9 1

 2 Net capital transfers paid -6.0 -7.8 -1.6 -4.9 -0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 2

 3 Net investment -102.2 174.1 165.4 131.7 79.5 48.3 18.7 7.8 14.0 7.7 5.3 3

 4 Net physical investment -38.8 -21.7 16.7 32.0 56.2 72.6 14.0 18.2 20.2 20.3 18.3 4

 5 Capital expenditures 227.9 245.1 281.7 303.7 337.9 367.3 86.7 91.4 94.2 94.9 93.5 5

 6 - Consumption of fixed capital 266.7 266.9 265.0 271.8 281.7 294.7 72.7 73.3 74.0 74.6 75.2 6

 7 Net lending (+) or net borrowing (-) 44.8 29.5 -15.1 -27.0 -56.2 -72.6 -14.0 -18.2 -20.2 -20.3 -18.3 7

 8 Net acquisition of financial assets -117.1 152.0 186.3 301.8 77.4 234.6 23.2 61.5 45.0 104.9 82.7 8

 9 - Net increase in liabilities -161.8 122.4 201.4 328.9 133.6 307.2 37.1 79.7 65.2 125.2 101.0 9

 10 Proprietor’s net investment (2) -108.2 166.4 163.8 126.8 79.5 48.3 18.7 7.8 14.0 7.7 5.3 10

 11 Holding gains on real estate (3) -1167.9 386.0 478.4 647.1 1043.9 537.2 76.8 119.8 163.3 177.4 270.4 11

 12 Residential -465.7 154.6 203.4 389.6 564.1 271.9 65.3 26.0 91.5 89.1 197.6 12

 13 Nonresidential -702.2 231.4 275.0 257.5 479.9 265.4 11.5 93.8 71.8 88.2 72.8 13

 14 Holding gains on assets at current cost (3) 24.9 59.3 45.7 17.0 -11.8 -168.2 -21.4 -38.8 -54.6 -53.4 -45.6 14

 15 Residential equipment -2.7 -2.3 1.0 -0.4 -2.1 -0.7 0.3 -0.8 0.1 -0.3 0.0 15

 16 Nonresidential equipment 21.4 23.9 15.6 9.1 6.4 -62.1 -9.4 -14.1 -19.8 -18.8 -19.0 16

 17 Intellectual property products 7.5 7.2 2.3 4.0 2.6 -96.7 -18.3 -21.2 -25.9 -31.4 -18.4 17

 18 Inventories -0.3 30.7 27.6 4.1 -18.5 -8.7 6.0 -2.8 -9.0 -2.9 -8.2 18

 19 - Foreign direct investment in U.S. 1.0 0.2 0.8 -0.1 0.2 0.0 0.0 0.0 0.0 0.0 0.0 19

 20 Other volume changes (4) 17.5 22.9 9.0 3.2 4.5 2.5 0.7 0.7 0.6 0.6 0.8 20

 Memo:

 21 Net worth outstanding (5) 6243.8 6878.3 7575.2 8369.2 9485.3 9905.1 9560.1 9649.6 9772.9 9905.1 10136.0 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 31.

(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 34.
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B.101.e Balance Sheet of Households and Nonprofit Organizations with Equity Detail

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

2009 2010 2011 2012 2013 2014 2014 2015

 Q1 Q2 Q3 Q4 Q1

 1 Assets 72333.2 76239.9 77449.5 83501.9 93054.2 97464.9 94108.0 95673.4 95725.5 97464.9 99076.3 1

 2 Nonfinancial assets 23715.2 23351.7 23378.2 25084.0 27702.2 29150.2 28100.3 28384.8 28718.6 29150.2 29693.7 2

 3 Financial assets 48618.0 52888.2 54071.3 58417.9 65352.0 68314.7 66007.7 67288.6 67006.9 68314.7 69382.6 3

 4 Deposits 8097.7 8071.0 8716.1 9239.0 9600.2 10144.1 9760.6 9771.4 9897.4 10144.1 10287.2 4

 5 Credit market instruments 4835.3 4915.1 4395.5 4208.9 3856.9 3314.5 3666.5 3502.7 3419.0 3314.5 3271.4 5

 6 Equity shares at market value 13132.1 15444.4 14915.4 17041.3 22034.1 23615.9 22337.3 23448.9 22772.4 23615.9 24103.1 6

 7 Directly held 7255.8 8696.2 8498.4 9676.3 12501.8 13360.7 12580.0 13307.1 12777.4 13360.7 13640.8 7

 8 Indirectly held 5876.3 6748.2 6417.1 7365.0 9532.3 10255.2 9757.2 10141.8 9995.1 10255.2 10462.3 8

 9 Life insurance companies 1220.3 1408.6 1382.4 1537.3 1804.6 1858.6 1824.2 1869.0 1827.2 1858.6 1889.4 9

 10 Private pension funds (1) 1875.3 2175.0 2087.1 2362.8 3069.7 3351.4 3125.7 3246.3 3226.6 3351.4 3405.2 10

 11 Federal govt. retirement funds (1) 105.3 128.5 124.0 138.3 195.0 223.8 200.8 210.5 213.8 223.8 231.6 11

 12 State and local govt. retirement funds (1) 224.8 250.3 223.5 242.0 294.7 307.9 298.0 305.2 301.6 307.9 313.2 12

 13 Mutual funds 2450.6 2785.8 2600.0 3084.7 4168.3 4513.3 4308.6 4510.8 4425.9 4513.3 4622.9 13

 14 Other 22552.9 24457.7 26044.4 27928.7 29860.8 31240.3 30243.3 30565.6 30918.1 31240.3 31720.8 14

 15 Liabilities 14062.8 13782.3 13570.9 13637.8 13792.5 14168.9 13780.6 13949.1 14075.3 14168.9 14151.6 15

 16 Net worth 58270.4 62457.6 63878.6 69864.2 79261.7 83296.0 80327.4 81724.3 81650.2 83296.0 84924.6 16

 Memo:

 Equity shares (line 6) as a percent of

 17 Total assets (line 1) 18.2 20.3 19.3 20.4 23.7 24.2 23.7 24.5 23.8 24.2 24.3 17

 18 Financial assets (line 3) 27.0 29.2 27.6 29.2 33.7 34.6 33.8 34.8 34.0 34.6 34.7 18

(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 14.
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F.101.a Nonprofit Organizations (1)

Billions of dollars; quarterly figures are seasonally adjusted annual rates

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Net lending (+) or net borrowing (-) 53.5 42.1 21.7 8.8 23.3 11.1 52.5 48.5 83.6 9.2 1.5 -6.0 39.6 1

 2 Net acquisition of financial assets 70.9 75.8 53.8 46.4 53.0 45.2 76.5 84.9 120.0 47.4 55.0 28.8 108.1 2

 3 Checkable deposits and currency 0.5 -1.0 1.3 4.0 1.2 1.7 -2.5 2.3 8.3 2.9 3.1 2.3 5.1 3

 4 Time and savings deposits -0.2 5.4 -6.2 10.4 -2.4 -1.5 0.2 0.2 1.1 0.3 1.1 0.6 0.8 4

 5 Money market fund shares -13.1 4.9 -1.2 32.9 4.0 -13.8 1.1 1.2 9.4 -1.8 7.1 3.8 4.5 5

 6 Security repurchase agreements (2) 0.4 3.1 -2.2 -1.3 6.0 0.5 0.2 0.2 1.4 0.0 1.3 0.7 0.8 6

 7 Credit market instruments 54.9 21.9 22.2 -17.6 10.9 25.5 16.6 38.8 36.7 23.1 36.4 46.7 32.6 7

 8 Open market paper 38.2 -5.7 5.8 -35.2 -5.8 12.4 4.7 2.0 4.1 1.3 3.0 4.7 12.4 8

 9 Treasury securities 6.4 13.8 4.8 6.1 6.8 5.1 6.4 16.4 13.9 8.9 11.6 17.5 5.4 9

10 Agency- and GSE-backed securities 4.5 2.6 4.6 3.6 3.1 2.3 2.9 7.6 6.4 4.1 5.4 8.1 2.5 10

11 Municipal securities 0.0 0.5 -0.5 0.0 0.2 0.3 0.4 0.1 0.0 -0.1 0.1 0.1 0.0 11

12 Corporate and foreign bonds 6.6 9.7 8.2 7.9 5.6 4.5 2.4 11.9 11.7 8.3 15.4 15.4 10.5 12

13 Mortgages -0.8 0.9 -0.7 -0.1 0.9 0.9 -0.1 0.9 0.6 0.6 0.9 0.8 1.7 13

14 Corporate equities 5.2 16.1 15.0 -18.6 18.6 8.9 45.1 -10.4 21.0 -30.6 -40.7 -67.4 15.4 14

15 Mutual fund shares -1.0 2.6 1.2 -3.3 0.7 -0.7 1.5 1.3 2.4 -1.0 0.4 -3.3 -1.0 15

16 Security credit 2.8 2.8 2.6 2.0 1.1 0.8 2.0 1.5 3.4 3.7 4.6 1.1 4.3 16

17 Trade receivables (2) 2.8 2.8 2.6 2.0 1.1 1.8 2.1 1.6 3.5 2.6 4.6 1.1 4.3 17

18 Equity in noncorporate business -0.1 -3.9 -6.0 15.2 10.6 7.0 0.2 10.2 8.4 9.7 12.5 12.0 16.3 18

19 Miscellaneous assets (2) 18.6 21.0 24.5 20.5 1.2 15.0 10.1 38.0 24.4 38.3 24.7 31.2 25.0 19

20 Net increase in liabilities 17.3 33.6 32.1 37.6 29.7 34.1 24.0 36.4 36.3 38.2 53.5 34.7 68.5 20

21 Credit market instruments 7.5 11.7 11.8 14.3 10.0 13.8 2.4 -0.6 11.0 10.6 23.4 13.5 19.3 21

22 Municipal securities 1.5 3.2 3.0 3.8 2.4 1.1 3.2 0.2 6.1 7.1 11.8 10.4 5.8 22

23 Depository institution loans n.e.c. 1.6 1.4 1.4 1.6 1.2 2.0 -0.2 -0.1 0.8 0.6 1.9 0.5 2.2 23

24 Other loans and advances -0.0 -0.0 0.3 0.4 -0.2 0.1 0.1 -0.1 0.0 -0.2 -0.1 0.1 -0.3 24

25 Commercial mortgages 4.4 7.2 7.2 8.6 6.6 10.7 -0.8 -0.6 4.1 3.1 9.9 2.5 11.6 25

26 Trade payables 2.4 16.2 9.3 9.4 5.9 6.0 5.2 7.9 8.0 8.9 8.7 4.1 3.8 26

27 Miscellaneous liabilities (2) 7.4 5.8 10.9 13.8 13.8 14.3 16.5 29.1 17.3 18.7 21.4 17.0 45.4 27

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.

(2) Not included in table F.101.
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L.101.a Nonprofit Organizations (1)

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

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

 

 1 Total financial assets 590.7 710.5 742.1 828.1 890.2 957.1 1025.5 1214.0 1414.1 1607.3 1793.9 1974.7 2003.8 1

 2 Checkable deposits and currency 17.0 15.9 17.3 21.3 22.5 24.1 21.6 23.9 32.1 35.0 38.1 40.4 45.5 2

 3 Time and savings deposits 1.5 6.8 0.6 11.1 8.7 7.1 7.3 7.5 8.6 8.9 10.0 10.6 11.4 3

 4 Money market fund shares 15.9 20.8 19.6 52.5 56.5 42.7 43.8 45.1 54.5 52.7 59.8 63.6 68.1 4

 5 Security repurchase agreements (2) 1.7 4.8 2.5 1.3 7.3 7.8 8.0 8.2 9.6 9.6 10.9 11.6 12.5 5

 6 Credit market instruments 229.3 251.2 273.4 255.9 266.8 292.3 308.9 347.7 384.4 407.6 443.9 490.6 523.2 6

 7 Open market paper 93.6 87.9 93.7 58.5 52.7 65.0 69.7 71.7 75.8 77.1 80.2 84.9 97.3 7

 8 Treasury securities 55.7 69.5 74.3 80.3 87.1 92.2 98.5 114.9 128.8 137.6 149.2 166.8 172.2 8

 9 Agency- and GSE-backed securities 26.3 28.9 33.5 37.1 40.3 42.6 45.5 53.1 59.5 63.6 69.0 77.1 79.6 9

10 Municipal securities 0.1 0.6 0.1 0.2 0.4 0.8 1.1 1.2 1.3 1.2 1.3 1.5 1.5 10

11 Corporate and foreign bonds 51.1 60.8 69.0 77.0 82.6 87.1 89.5 101.4 113.1 121.4 136.8 152.2 162.6 11

12 Mortgages 2.6 3.5 2.8 2.8 3.7 4.6 4.5 5.3 6.0 6.6 7.4 8.3 10.0 12

13 Corporate equities 145.8 203.0 197.5 214.6 241.1 270.2 308.2 397.1 494.7 604.9 692.0 769.3 708.6 13

14 Mutual fund shares 10.2 15.8 15.3 15.9 17.7 18.5 19.0 24.6 30.4 34.5 38.7 42.7 38.8 14

15 Security credit 25.7 28.5 31.1 33.1 34.3 35.0 37.1 38.6 42.0 45.8 50.3 51.5 55.8 15

16 Trade receivables (2) 25.7 28.5 31.1 33.1 34.3 36.1 38.1 39.7 43.2 45.8 50.3 51.5 55.8 16

17 Equity in noncorporate business 26.1 22.2 16.2 31.4 42.0 49.0 49.2 59.4 67.8 77.5 90.0 102.0 118.3 17

18 Miscellaneous assets (2) 92.0 112.9 137.4 158.0 159.2 174.2 184.3 222.2 246.7 285.0 309.7 340.9 365.9 18

19 Liabilities 253.8 287.5 319.5 357.1 386.8 421.0 444.9 481.4 517.7 555.8 609.3 644.1 712.5 19

20 Credit market instruments 154.4 166.1 177.9 192.3 202.3 216.1 218.5 217.9 228.9 239.5 262.9 276.4 295.7 20

21 Municipal securities 79.6 82.7 85.7 89.5 91.9 93.0 96.1 96.4 102.4 109.6 121.3 131.7 137.5 21

22 Depository institution loans n.e.c. 11.8 13.1 14.5 16.1 17.3 19.3 19.2 19.1 19.8 20.4 22.3 22.7 24.9 22

23 Other loans and advances 0.3 0.3 0.5 0.9 0.7 0.8 0.9 0.8 0.9 0.7 0.6 0.7 0.4 23

24 Commercial mortgages 62.7 70.0 77.2 85.8 92.3 103.0 102.2 101.6 105.7 108.8 118.7 121.2 132.8 24

25 Trade payables 41.3 57.4 66.8 76.2 82.1 88.1 93.2 101.1 109.1 118.0 126.8 130.9 134.7 25

26 Miscellaneous liabilities (2) 58.2 63.9 74.8 88.6 102.5 116.8 133.3 162.4 179.7 198.4 219.7 236.8 282.1 26

(1) Does not include religious organizations or organizations with less than $25,000 in gross annual receipts.

(2) Not included in table L.101.
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S.1.a Total Economy - Current Account

Billions of dollars

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross value added 12283.5 13129.2 14073.2 14460.1 14619.2 14343.4 14915.2 15556.3 16372.3 16980.0 1

 (income approach)

 2 Less: Consumption of fixed capital 1831.7 1982.0 2136.0 2264.4 2363.4 2368.4 2381.6 2450.6 2530.2 2627.2 2

 3 Equals: Net value added 10451.8 11147.2 11937.2 12195.8 12255.8 11975.0 12533.6 13105.6 13842.1 14352.7 3

 4 Compensation of employees (paid) 6748.8 7097.9 7513.7 7908.8 8090.0 7795.7 7969.5 8277.1 8614.9 8853.6 4

 5 Wages and salaries 5431.2 5703.1 6068.8 6405.7 6543.6 6260.1 6385.6 6641.2 6940.5 7133.6 5

 6 Employers’ social contributions 1317.6 1394.8 1444.9 1503.1 1546.4 1535.6 1583.9 1635.9 1674.4 1720.1 6

 7 Taxes on production and imports less subsidies 817.6 873.6 940.5 980.0 989.4 967.8 1001.2 1042.6 1074.0 1102.3 7

 8 Operating surplus, net 2885.5 3175.7 3483.0 3307.0 3176.5 3211.6 3562.8 3785.9 4153.2 4396.8 8

 9 Plus: Income receipts from the rest of the world 451.4 575.8 724.2 875.7 856.9 648.9 720.0 792.6 793.8 810.4 9

10 Less: Income payments to the rest of the world 362.3 483.2 656.6 750.1 684.9 497.8 514.1 546.0 566.5 586.1 10

11 Equals: Net national income/Balance of primary incomes, net 10540.9 11239.8 12004.8 12321.4 12427.8 12126.1 12739.5 13352.3 14069.5 14577.1 11

12 Operating surplus, net 2885.5 3175.7 3483.0 3307.0 3176.5 3211.6 3562.8 3785.9 4153.2 4396.8 12

13 Compensation of employees (received) 6739.5 7086.8 7502.3 7898.3 8078.3 7787.0 7961.4 8269.0 8606.5 8844.8 13

14 Wages and salaries 5421.9 5692.0 6057.4 6395.2 6531.9 6251.4 6377.5 6633.2 6932.1 7124.7 14

15 Employers’ social contributions 1317.6 1394.8 1444.9 1503.1 1546.4 1535.6 1583.9 1635.9 1674.4 1720.1 15

16 Taxes on production and imports, receivable 863.9 934.5 991.9 1034.6 1041.9 1026.1 1057.1 1102.6 1132.0 1162.4 16

17 Subsidies paid -46.4 -60.9 -51.5 -54.6 -52.6 -58.3 -55.9 -60.1 -58.0 -60.2 17

18 Property income (received) 4880.3 5624.9 6618.0 7291.8 6916.9 5815.3 5752.9 6011.3 6276.1 6425.3 18

19 Interest 2828.3 3420.9 4150.9 4706.7 4234.7 3464.1 3230.4 3233.2 3179.1 3098.0 19

20 Distributed income of corporations 1842.3 2164.3 2199.1 2300.9 2390.7 2072.0 2166.7 2410.7 2751.8 2935.3 20

21 Dividends 809.8 1109.8 1067.3 1234.4 1255.5 989.3 1007.3 1118.0 1324.8 1424.2 21

22 Withdrawals from income of quasi-corporations 1032.5 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1292.8 1427.0 1511.1 22

23 Reinvested earnings on U.S. direct investment abroad 192.5 20.4 247.8 261.4 265.6 260.9 336.6 345.7 322.7 370.2 23

24 Rents on land and natural resources 17.1 19.4 20.3 22.6 25.9 18.3 19.2 21.7 22.5 21.7 24

25 Less: Uses of property income (paid) 4781.9 5521.3 6539.1 7155.7 6733.1 5655.5 5538.8 5756.6 6040.3 6192.1 25

26 Interest 2935.0 3556.3 4328.1 4924.0 4457.7 3661.6 3411.5 3400.4 3345.1 3267.9 26

27 Distributed income of corporations 1779.9 1903.4 2121.2 2160.5 2210.1 1953.8 2045.3 2255.8 2574.9 2802.4 27

28 Dividends 747.5 848.9 989.4 1093.9 1075.0 871.2 885.9 963.1 1147.9 1291.3 28

29 Withdrawals from income of quasi-corporations 1032.5 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1292.8 1427.0 1511.1 29

30 Reinvested earnings on foreign direct investment 49.8 42.1 69.5 48.5 39.4 21.9 62.8 78.7 97.7 100.1 30

31 Rents on land and natural resources 17.1 19.4 20.3 22.6 25.9 18.3 19.2 21.7 22.5 21.7 31

32 Net national income/Balance of primary incomes, net 10540.9 11239.8 12004.8 12321.4 12427.8 12126.1 12739.5 13352.3 14069.5 14577.1 32

33 Plus: Current taxes on income, wealth, etc. (received) 1347.9 1616.5 1821.0 1923.9 1735.1 1405.8 1553.5 1766.9 1944.4 2121.1 33

34 Less: Current taxes on income, wealth, etc. (paid) 1352.1 1620.9 1825.5 1933.4 1744.3 1414.4 1562.0 1779.7 1958.5 2136.0 34

35 Plus: Social benefits (received) 2233.5 2364.3 2515.3 2658.3 2840.4 3070.9 3223.0 3179.9 3263.4 3482.1 35

36 Less: Social contributions (paid) 2239.7 2370.9 2523.2 2666.9 2851.1 3081.9 3234.6 3192.6 3276.9 3495.6 36

37 Plus: Other current transfers (received) 468.2 494.1 497.2 532.5 560.9 668.8 719.3 697.4 649.3 672.7 37

38 Less: Other current transfers (paid) 554.3 597.4 585.5 639.1 676.1 782.0 840.4 819.1 763.0 782.5 38

39 Equals: Disposable income, net 10444.5 11125.6 11904.1 12196.7 12292.8 11993.2 12598.3 13205.1 13928.2 14438.8 39

40 Less: Final consumption expenditures 10129.0 10774.2 11393.8 11960.2 12382.2 12289.0 12724.4 13220.2 13632.9 14031.9 40

41 Equals: Net saving 315.6 351.4 510.2 236.5 -89.5 -295.8 -126.1 -15.1 295.4 406.8 41

 Addendum:

42 Gross value added (line 1) 12283.5 13129.2 14073.2 14460.1 14619.2 14343.4 14915.2 15556.3 16372.3 16980.0 42

43 Plus statistical discrepancy (NIPA) -8.6 -35.5 -217.3 17.5 99.4 75.3 49.2 -38.3 -209.2 -211.9 43

44 Equals: GDP (NIPA, expenditure approach) 12274.9 13093.7 13855.9 14477.6 14718.6 14418.7 14964.4 15517.9 16163.1 16768.0 44
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S.2.a Selected Aggregates for Total Economy and Sectors 

Billions of dollars

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 1 Gross value added 12283.5 13129.2 14073.2 14460.1 14619.2 14343.4 14915.2 15556.3 16372.3 16980.0 1

 2 Households and nonprofit institutions serving households 1510.9 1599.5 1689.4 1749.6 1855.3 1913.6 1928.8 1974.4 2023.9 2094.6 2

 3 Nonfinancial noncorporate business 2079.1 2218.8 2440.1 2513.9 2632.4 2466.4 2546.2 2751.6 2926.1 3055.2 3

 4 Nonfinancial corporate business 6107.9 6532.1 6988.0 7203.9 7256.8 6859.8 7238.7 7592.3 8030.3 8287.0 4

 5 Financial business 922.1 1034.3 1127.6 1068.8 851.9 1015.4 1042.8 1045.8 1178.3 1307.1 5

 6 Federal government 525.8 552.7 577.6 605.4 637.6 668.8 704.5 720.9 722.7 711.3 6

 7 State and local government 1137.7 1191.7 1250.3 1318.5 1385.2 1419.4 1454.2 1471.4 1491.0 1524.8 7

 8 Net saving 315.6 351.4 510.2 236.5 -89.5 -295.8 -126.1 -15.1 295.4 406.8 8

 9 Households and nonprofit institutions serving households 410.0 237.9 329.5 310.3 542.2 672.0 628.0 711.1 896.2 608.1 9

10 Nonfinancial corporate business 312.7 411.7 386.5 313.1 296.7 381.0 603.5 584.2 563.7 571.3 10

11 Financial business 100.5 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 147.2 101.7 11

12 Federal government -399.2 -304.7 -227.0 -265.6 -634.0 -1248.8 -1328.7 -1244.1 -1079.1 -649.1 12

13 State and local government -108.4 -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -232.6 -225.1 13

 Net capital transfers

14 Households and nonprofit institutions serving households 1.4 -21.9 16.6 6.8 7.7 -28.4 -20.6 2.0 -5.0 19.7 14

15 Nonfinancial noncorporate business -5.0 -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 15

16 Nonfinancial corporate business -6.7 -15.5 -0.0 -0.0 -3.7 38.3 20.9 -6.4 -16.7 -5.7 16

17 Financial business 16.2 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 9.6 0.0 17

18 Federal government 39.3 60.3 43.2 53.0 117.6 186.3 126.3 113.9 84.7 58.4 18

19 State and local government -48.0 -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.8 -74.2 -71.6 19

20 Rest of the world 2.8 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 6.5 -0.8 20

21 Gross fixed capital formation 2701.3 2981.2 3166.0 3201.5 3091.4 2672.7 2691.1 2836.0 3033.7 3170.2 21

22 Households and nonprofit institutions serving households 765.9 865.0 860.1 736.1 580.4 468.1 452.4 451.9 502.9 569.4 22

23 Nonfinancial noncorporate business 260.3 289.2 305.0 313.5 307.5 248.8 243.1 274.8 300.7 320.6 23

24 Nonfinancial corporate business 1010.1 1133.4 1259.9 1348.2 1372.7 1141.9 1181.0 1303.9 1420.5 1482.5 24

25 Financial business (nonresidential) 176.5 180.0 188.7 211.5 196.2 166.9 162.8 167.5 190.2 201.5 25

26 Federal government 211.0 222.9 238.0 251.4 275.8 284.0 300.0 297.4 287.8 268.5 26

27 State and local government 277.5 290.8 314.3 340.8 358.8 363.0 351.9 340.5 331.6 327.8 27

28 Consumption of fixed capital 1831.7 1982.0 2136.0 2264.4 2363.4 2368.4 2381.6 2450.6 2530.2 2627.2 28

29 Households and nonprofit institutions serving households 323.4 362.1 396.2 413.7 414.6 403.3 400.5 398.2 404.5 427.1 29

30 Nonfinancial noncorporate business 196.4 214.4 232.6 245.6 254.5 253.0 251.8 265.0 271.7 281.7 30

31 Nonfinancial corporate business 850.2 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1139.2 1183.8 1229.8 31

32 Financial business (nonresidential) 139.3 148.9 156.8 165.4 173.9 177.4 176.7 168.6 174.1 182.2 32

33 Federal government 178.6 189.4 200.7 212.8 226.3 234.5 245.3 257.4 264.1 268.0 33

34 State and local government 143.8 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.8 238.4 34

35 Change in inventories 63.9 59.6 67.0 34.5 -32.0 -147.6 61.5 41.8 64.9 74.1 35

36 Nonfinancial noncorporate business 13.5 7.1 5.3 3.3 -2.3 -16.8 3.6 6.8 3.0 17.4 36

37 Nonfinancial corporate business 50.3 52.5 61.7 31.2 -29.7 -130.8 57.9 34.9 61.8 56.7 37

38 Net lending (+) or net borrowing (-) (capital account) -615.1 -694.5 -588.8 -735.0 -780.1 -453.2 -497.8 -443.8 -266.5 -211.1 38

39 Households and nonprofit institutions serving households -25.2 -234.0 -140.8 -7.7 379.7 645.2 605.2 663.3 810.5 454.0 39

40 Nonfinancial noncorporate business -72.4 -68.8 -77.7 -71.1 -47.5 27.0 12.8 -15.1 -27.1 -56.2 40

41 Nonfinancial corporate business 111.0 150.2 30.7 -26.4 33.8 417.2 439.3 391.4 280.9 266.2 41

42 Financial business 47.1 14.3 28.8 -94.6 -91.2 304.4 263.8 183.3 121.5 82.5 42

43 Federal government -470.1 -396.6 -293.2 -353.9 -780.6 -1475.7 -1508.7 -1397.1 -1185.6 -705.6 43

44 State and local government -205.4 -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -266.9 -252.0 44

 Addendum:

45 Statistical discrepancy (NIPA) -8.6 -35.5 -217.3 17.5 99.4 75.3 49.2 -38.3 -209.2 -211.9 45

46 Rest of the world 623.7 730.0 806.1 717.5 680.7 377.8 448.6 482.1 475.7 423.0 46

47 Net lending (+) or net borrowing (-) (financial account) -414.0 -435.8 -637.8 -338.1 -1143.2 -526.9 -635.0 -718.6 -680.3 64.4 47

48 Households and nonprofit institutions serving households 133.0 -296.1 -366.3 249.8 1085.5 598.8 898.9 1346.6 1094.5 833.7 48

49 Nonfinancial noncorporate business -59.1 -54.0 -63.9 -57.0 -37.1 44.8 29.5 -15.1 -27.0 -56.2 49

50 Nonfinancial corporate business 165.0 -20.9 -139.0 -208.2 -947.7 548.5 145.2 -400.9 -478.9 69.4 50

51 Financial business -18.5 335.4 243.2 127.9 -131.9 15.3 7.8 48.7 119.1 151.5 51

52 Federal government -474.1 -422.8 -310.4 -390.9 -789.1 -1298.2 -1414.9 -1352.4 -1117.2 -661.3 52

53 State and local government -160.3 22.6 -1.4 -59.7 -322.9 -436.0 -301.4 -345.6 -270.7 -272.8 53

 Addendum:

54 Rest of the world 452.1 698.5 529.8 151.5 765.2 28.0 268.2 416.7 446.6 371.8 54

 Total other volume changes

55 Households and nonprofit institutions serving households 1440.9 270.3 495.1 607.4 820.0 581.4 1200.2 677.4 707.6 809.7 55

56 Nonfinancial noncorporate business 68.0 -76.1 1.3 -48.7 -315.4 -96.6 181.4 171.2 125.1 83.9 56

57 Nonfinancial corporate business 267.2 288.5 576.9 678.9 -744.2 172.3 379.3 -58.2 -196.0 533.2 57

58 Financial business -392.2 28.0 -434.2 -66.2 1257.0 -1080.8 -834.0 -103.7 -429.5 -1040.8 58

59 Federal government -28.2 -47.0 30.2 9.3 86.7 121.5 -32.0 46.4 41.3 28.9 59

60 State and local government -697.2 215.7 327.0 231.5 -976.2 361.4 43.6 -76.5 313.1 698.4 60

61 Rest of the world -179.0 -34.9 -145.3 -537.5 75.3 -335.3 -181.8 -69.6 -34.8 -45.5 61

 Holding gains/losses

62 Households and nonprofit institutions serving households 5091.7 5369.7 3638.2 -488.8 -11584.3 496.5 2338.4 34.4 4376.8 7999.5 62

63 Nonfinancial noncorporate business 1151.3 1178.7 423.3 133.8 -1130.6 -1142.1 445.5 524.8 663.9 1032.3 63

64 Nonfinancial corporate business 56.6 87.2 -1389.8 -240.3 4192.3 -5021.2 -1354.9 390.6 -1359.4 -3705.7 64

65 Financial business 96.2 120.7 15.4 1328.2 487.6 442.0 127.4 239.6 -16.1 -37.5 65

66 Federal government 115.7 115.3 116.8 93.3 1.2 -157.9 18.5 36.4 37.0 59.0 66

67 State and local government 516.3 478.9 621.8 466.0 350.3 -71.6 197.4 394.6 245.9 263.1 67

68 Rest of the world -363.6 -708.1 -565.2 -761.7 1154.7 -900.5 -192.9 876.2 -288.5 294.6 68
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Change in net worth

69 Households and nonprofit institutions serving households 6941.3 5899.9 4446.2 422.1 -10229.7 1778.3 4187.3 1421.0 5985.5 9397.5 69

70 Nonfinancial noncorporate business 1224.4 1115.5 423.4 84.8 -1443.0 -1233.7 634.5 696.9 794.1 1116.1 70

71 Nonfinancial corporate business 643.2 803.0 -426.3 751.8 3748.5 -4506.3 -393.1 922.9 -975.0 -2595.5 71

72 Financial business -211.7 194.1 -358.1 1213.5 1675.8 -344.9 -456.7 318.0 -308.0 -976.6 72

73 Federal government -351.1 -296.8 -123.3 -216.0 -663.6 -1471.5 -1468.5 -1275.3 -1085.5 -619.6 73

74 State and local government -241.3 678.4 967.2 684.1 -727.7 85.6 80.5 176.1 400.7 808.0 74

75 Rest of the world 81.0 -13.0 95.6 -581.7 1910.8 -857.9 73.9 1288.7 152.3 672.1 75
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Current account

 1 Gross value added 1510.9 1599.5 1689.4 1749.6 1855.3 1913.6 1928.8 1974.4 2023.9 2094.6 1

 2 Less: Consumption of fixed capital 323.4 362.1 396.2 413.7 414.6 403.3 400.5 398.2 404.5 427.1 2

 3 Equals: Net value added 1187.5 1237.5 1293.2 1335.9 1440.7 1510.3 1528.3 1576.1 1619.4 1667.5 3

 4 Compensation paid by households and NPISHs 545.6 563.4 590.9 616.8 658.2 686.6 696.4 723.9 752.0 776.1 4

 5 Wages and salaries 452.2 466.2 490.9 516.0 549.9 566.1 577.3 597.0 622.3 641.3 5

 6 Employers’ social contributions 93.4 97.1 100.0 100.8 108.3 120.5 119.1 126.9 129.7 134.8 6

 7 Taxes on production and imports less subsidies 114.7 120.7 130.8 135.1 143.2 152.4 152.8 154.9 156.6 157.2 7

 8 Operating surplus, net 527.2 553.4 571.5 584.0 639.3 671.3 679.1 697.2 710.7 734.2 8

 9 Net national income/Balance of primary incomes, net 9244.8 9733.1 10437.5 10936.7 11247.7 10643.4 10889.5 11566.0 12255.9 12617.9 9

10 Operating surplus, net 527.2 553.4 571.5 584.0 639.3 671.3 679.1 697.2 710.7 734.2 10

11 Compensation of employees (received) 6739.5 7086.8 7502.3 7898.3 8078.3 7787.0 7961.4 8269.0 8606.5 8844.8 11

12 Wages and salaries 5421.9 5692.0 6057.4 6395.2 6531.9 6251.4 6377.5 6633.2 6932.1 7124.7 12

13 Employers’ social contributions 1317.6 1394.8 1444.9 1503.1 1546.4 1535.6 1583.9 1635.9 1674.4 1720.1 13

14 Property income (received) 2537.5 2722.2 3071.6 3234.6 3303.6 2901.9 2900.2 3207.9 3516.9 3592.1 14

15 Interest 942.9 1089.4 1216.1 1351.5 1363.0 1265.5 1196.2 1232.9 1257.2 1256.5 15

16 Distributed income of corporations 1594.5 1632.8 1855.5 1883.1 1940.6 1636.4 1704.0 1975.0 2259.7 2335.6 16

17 Dividends 562.1 578.3 723.7 816.5 805.4 553.7 544.6 682.2 832.7 824.5 17

18 Withdrawals from income of quasi-corporations (1) 1032.5 1054.5 1131.8 1066.6 1135.2 1082.6 1159.4 1292.8 1427.0 1511.1 18

19 Less: Uses of property income (interest paid) 559.5 629.3 707.9 780.2 773.5 716.8 651.2 608.2 578.2 553.2 19

20 Net national income/Balance of primary incomes, net 9244.8 9733.1 10437.5 10936.7 11247.7 10643.4 10889.5 11566.0 12255.9 12617.9 20

21 Less: Current taxes on income, wealth, etc. (paid) 1046.0 1208.5 1352.1 1487.9 1435.2 1144.9 1191.5 1400.6 1503.7 1661.8 21

22 Plus: Social benefits (received) 1399.9 1486.3 1588.2 1692.2 1847.3 2101.5 2234.0 2257.7 2307.6 2372.2 22

23 Less: Social contributions (paid) 829.2 873.3 922.6 961.4 988.2 964.4 984.1 917.8 951.2 1104.5 23

24 Plus: Other current transfers (received) 16.8 25.7 21.5 30.6 36.6 38.7 43.0 50.2 43.1 42.3 24

25 Less: Other current transfers (paid) 116.3 131.2 138.9 149.3 152.3 155.2 160.6 155.1 172.4 173.8 25

26 Equals: Disposable income, net 8670.0 9032.0 9633.5 10060.8 10555.9 10519.0 10830.2 11400.4 11979.3 12092.4 26

27 Less: Final consumption expenditures 8260.0 8794.1 9304.0 9750.5 10013.6 9847.0 10202.2 10689.3 11083.1 11484.3 27

28 Equals: Net saving 410.0 237.9 329.5 310.3 542.2 672.0 628.0 711.1 896.2 608.1 28

 Capital account

29 Net saving less capital transfers 408.6 259.8 313.0 303.5 534.6 700.4 648.6 709.1 901.2 588.4 29

30 Net saving 410.0 237.9 329.5 310.3 542.2 672.0 628.0 711.1 896.2 608.1 30

31 Less: Capital transfers paid (net) 1.4 -21.9 16.6 6.8 7.7 -28.4 -20.6 2.0 -5.0 19.7 31

32 Capital formation, net 433.8 493.8 453.8 311.2 154.9 55.2 43.4 45.8 90.7 134.4 32

33 Gross fixed capital formation, excluding consumer durables 765.9 865.0 860.1 736.1 580.4 468.1 452.4 451.9 502.9 569.4 33

34 Residential 643.8 738.9 722.7 582.3 425.3 321.0 318.3 321.1 368.0 433.4 34

35 Nonresidential (nonprofit organizations) 122.1 126.1 137.4 153.9 155.1 147.1 134.1 130.8 134.9 136.0 35

36 Less: Consumption of fixed capital 323.4 362.1 396.2 413.7 414.6 403.3 400.5 398.2 404.5 427.1 36

37 Acquisition of nonproduced nonfinancial assets -8.7 -9.1 -10.1 -11.2 -11.0 -9.7 -8.5 -7.8 -7.7 -7.9 37

38 Net lending (+) or borrowing (-), capital account (lines 29-32) -25.2 -234.0 -140.8 -7.7 379.7 645.2 605.2 663.3 810.5 454.0 38

 Financial account

39 Net lending (+) or borrowing (-) (line 38) -25.2 -234.0 -140.8 -7.7 379.7 645.2 605.2 663.3 810.5 454.0 39

40 Net acquisition of financial assets 1284.4 863.3 908.8 1212.1 1095.8 674.8 793.3 1276.5 1363.4 1076.2 40

41 Currency and deposits 405.1 369.7 452.7 426.1 420.0 199.7 206.3 664.5 581.2 334.9 41

42 Currency and transferable deposits -58.2 -113.9 -40.0 -75.3 176.8 101.0 38.9 305.1 176.9 121.5 42

43 Time and savings deposits 454.4 481.5 486.5 483.6 261.0 105.9 162.8 369.3 412.0 210.6 43

44 Foreign deposits 8.9 2.1 6.1 17.8 -17.8 -7.2 4.5 -9.9 -7.7 2.8 44

45 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45

46 Debt securities 108.1 48.2 -98.6 478.9 578.3 82.4 -73.1 -202.0 -219.8 -556.6 46

47 Open market paper 6.4 14.7 19.0 -10.2 -101.3 16.7 -1.5 -1.8 -0.6 -3.8 47

48 Treasury securities -11.0 -121.3 -104.2 -38.0 146.4 532.6 317.2 -215.3 215.4 -194.3 48

49 Agency- and GSE-backed securities (2) 133.0 148.4 -24.0 339.7 240.3 -671.6 -10.2 -11.0 -111.8 -75.4 49

50 Municipal securities 118.5 77.8 34.7 37.9 47.3 107.1 43.6 -65.7 -144.6 -55.2 50

51 Corporate and foreign bonds -138.8 -71.4 -24.1 149.5 245.7 97.6 -422.2 91.7 -178.3 -227.8 51

52 Loans 127.4 -0.9 70.8 220.4 -159.2 -47.6 1.6 -5.0 16.9 46.3 52

53 Short term 117.0 -9.0 87.9 233.3 -160.4 -46.8 12.5 -5.9 30.7 57.1 53

54 Long term (mortgages) 10.4 8.1 -17.1 -12.9 1.1 -0.9 -10.9 0.9 -13.8 -10.9 54
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

55 Equity and investment fund shares -80.3 -225.4 -213.1 -618.6 -409.3 -16.2 51.6 177.3 520.3 681.4 55

56 Corporate equities -274.8 -412.5 -608.5 -1058.9 -317.0 -17.8 -183.9 -294.2 -194.7 -30.7 56

57 Mutual fund shares 180.1 195.5 183.1 247.7 -20.9 375.6 247.9 329.2 581.1 611.0 57

58 Money market fund shares -56.2 44.4 217.8 239.3 234.6 -267.5 -183.6 -19.4 0.3 25.5 58

59 Equity in noncorporate business 70.5 -52.8 -5.5 -46.7 -306.1 -107.6 167.2 161.0 133.5 75.6 59

60 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 1.2 4.0 0.7 0.0 0.0 60

61 Insurance, pension and standardized guarantee schemes 724.1 671.7 697.1 705.3 666.0 456.5 607.0 641.8 464.9 570.1 61

62 Insurance receivables due from property-casualty insurance companies 23.6 25.6 4.6 6.7 11.0 8.7 -35.2 36.7 -17.7 39.7 62

63 Life insurance reserves 33.1 15.1 57.8 18.6 59.9 24.6 6.2 73.5 -26.6 19.2 63

64 Pension entitlements (4) 638.6 598.6 601.9 620.6 551.0 398.2 596.4 498.3 497.6 498.7 64

65 Non-life insurance reserves at life insurance companies 11.4 9.5 14.8 15.5 17.6 8.4 17.1 14.8 -1.8 0.4 65

66 Retiree Health Care Funds 17.4 23.0 18.1 43.9 26.5 16.6 22.5 18.5 13.3 12.2 66

67 Net incurrence of liabilities 1151.3 1159.4 1275.1 962.3 10.3 75.9 -105.6 -70.1 269.0 242.5 67

68 Debt securities (municipals) 14.7 15.1 16.4 21.1 9.3 5.9 -2.2 -7.8 -14.5 -13.1 68

69 Loans 1118.6 1130.3 1244.6 925.5 -24.3 33.5 -76.6 -63.1 278.9 251.6 69

70 Short term 179.0 69.2 229.1 178.8 -114.9 -36.6 102.4 16.3 346.4 243.4 70

71 Consumer credit 117.2 100.4 120.4 151.3 34.9 -103.6 -25.3 108.6 169.4 175.9 71

72 Depository institution loans n.e.c. -20.0 0.3 44.2 -9.1 4.6 28.3 50.1 -54.9 110.8 30.0 72

73 Other loans and advances 0.3 0.0 4.8 3.2 6.2 0.5 2.4 1.9 1.2 2.0 73

74 Security credit 81.5 -31.6 59.7 33.4 -160.7 38.1 75.2 -39.3 64.9 35.4 74

75 Long term (mortgages) 939.7 1061.1 1015.6 746.8 90.6 70.0 -179.0 -79.4 -67.5 8.2 75

76 Insurance, pension and standardized guarantee schemes 1.6 1.0 0.5 1.0 3.2 -4.9 2.7 -0.4 0.6 3.0 76

77 Other accounts payable (trade debt) 16.5 13.0 13.6 14.6 22.2 41.4 -29.4 1.2 4.0 1.0 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 40-67) 133.0 -296.1 -366.3 249.8 1085.5 598.8 898.9 1346.6 1094.5 833.7 78

 Other changes in volume account

79 Total other volume changes 1440.9 270.3 495.1 607.4 820.0 581.4 1200.2 677.4 707.6 809.7 79

80 Net investment in consumer durable goods 254.8 252.4 239.6 231.1 134.6 50.3 86.9 119.0 158.4 194.3 80

81 Disaster losses -12.0 -50.4 0.0 0.0 -8.3 0.0 0.0 0.0 -20.9 0.0 81

82 Other volume changes 1039.9 130.5 480.9 118.7 -12.1 577.5 819.7 -124.8 286.1 235.6 82

83 Less: Statistical discrepancy (lines 38-78) (5) -158.2 62.1 225.5 -257.5 -705.8 46.4 -293.7 -683.3 -283.9 -379.8 83

 Revaluation account

84 Nonfinancial assets 2417.0 2834.2 226.9 -1855.5 -3656.8 -1165.8 -491.6 -136.0 1480.0 2292.0 84

85 Real estate 2454.6 2881.0 275.2 -1796.4 -3622.3 -1118.4 -400.5 -158.3 1518.9 2383.1 85

86 Consumer durable goods -34.5 -44.1 -46.9 -55.6 -32.0 -40.8 -88.3 17.7 -41.5 -92.2 86

87 Equipment -2.0 -2.6 -0.6 -3.1 -1.3 -4.7 -2.4 2.5 -0.1 -0.3 87

88 Intellectual property products -1.1 -0.1 -0.8 -0.3 -1.2 -2.0 -0.4 2.2 2.8 1.4 88

89 Financial assets 2674.8 2535.5 3411.3 1366.7 -7927.5 1662.4 2830.0 170.4 2896.7 5707.5 89

90 Corporate equities 967.4 1031.9 2209.5 844.6 -3834.6 1512.9 1624.3 48.8 1372.7 2856.2 90

91 Mutual fund shares 316.4 38.6 334.7 269.4 -1311.2 465.4 256.7 -267.9 316.8 781.6 91

92 Equity in noncorporate business 1158.8 1193.3 426.9 132.9 -1141.1 -1133.5 453.3 524.4 667.7 1036.4 92

93 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 -0.3 -1.0 -0.2 -0.1 0.0 93

94 Insurance, pension and standardized guarantee schemes 232.2 271.7 440.2 119.8 -1640.6 817.9 496.7 -134.8 539.7 1033.3 94

95 Changes in net worth due to nominal holding gains/losses 5091.7 5369.7 3638.2 -488.8 -11584.3 496.5 2338.4 34.4 4376.8 7999.5 95

 Changes in balance sheet account

96 Change in net worth (lines 32+38+79+95) 6941.3 5899.9 4446.2 422.1 -10229.7 1778.3 4187.3 1421.0 5985.5 9397.5 96

 Balance sheet account (end of period)

97 Total assets 66957.6 74015.9 79760.8 81117.1 70771.4 72333.2 76239.9 77449.5 83501.9 93054.2 97

98 Nonfinancial assets 25008.8 28540.5 29462.1 28149.7 24774.6 23715.2 23351.7 23378.2 25084.0 27702.2 98

99 Real estate 20844.4 24147.1 24852.7 23340.2 19840.4 18758.8 18383.2 18252.6 19826.4 22328.9 99

100 Consumer durable goods 3899.5 4107.8 4300.5 4476.0 4578.6 4588.1 4586.7 4723.3 4840.1 4942.2 100

101 Equipment 189.4 206.1 226.0 245.8 264.0 271.9 280.1 293.0 299.7 306.9 101

102 Intellectual property products 75.5 79.5 82.8 87.6 91.6 96.4 101.8 109.4 117.7 124.1 102
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103 Financial assets 41948.9 45475.4 50298.7 52967.4 45996.8 48618.0 52888.2 54071.3 58417.9 65352.0 103

104 Currency and deposits 4944.8 5314.8 5793.7 6214.7 6599.7 6784.9 6941.8 7606.2 8128.9 8464.5 104

105 Currency and transferable deposits 399.8 285.9 239.7 153.3 295.2 396.1 423.7 728.8 892.1 1013.6 105

106 Foreign deposits 61.8 63.8 69.9 87.7 69.9 62.7 67.3 57.4 49.7 52.5 106

107 Time and savings deposits 4483.2 4965.0 5484.1 5973.6 6234.6 6326.0 6450.8 6820.0 7187.1 7398.4 107

108 Postal savings system deposits 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 108

109 Debt securities 3145.0 3311.3 3254.8 3780.7 4229.8 4608.7 4710.5 4196.7 4035.2 3695.5 109

110 Open market paper 83.7 98.4 117.5 107.3 6.0 22.7 21.1 19.4 18.8 15.0 110

111 Treasury securities 472.7 425.7 325.4 202.4 183.9 853.3 1122.6 717.0 943.1 956.6 111

112 Agency- and GSE-backed securities (2) 443.7 587.4 612.7 873.3 1056.3 356.4 334.2 299.3 176.8 141.1 112

113 Municipal securities 1522.9 1600.6 1635.6 1673.5 1720.8 1827.9 1871.4 1805.7 1661.2 1605.9 113

114 Corporate and foreign bonds 622.1 599.1 563.7 924.2 1262.9 1548.5 1361.1 1355.3 1235.4 976.9 114

115 Loans 773.8 772.9 912.5 1132.9 973.6 928.3 929.9 924.9 930.7 977.0 115

116 Short term 641.1 632.1 788.9 1022.1 861.8 817.4 829.8 824.0 843.6 900.7 116

117 Long term (mortgages) 132.6 140.8 123.6 110.7 111.8 110.9 100.1 100.9 87.1 76.2 117

118 Equity and investment fund shares 18900.0 20913.9 24152.7 24782.6 18088.6 18928.5 21328.5 21822.1 24807.7 30167.8 118

119 Corporate equities 7406.7 8026.1 10126.6 9912.3 5760.7 7255.8 8696.2 8498.4 9676.3 12501.8 119

120 Mutual fund shares 3287.1 3521.2 4074.4 4591.5 3259.4 4100.4 4605.0 4622.5 5630.4 7023.0 120

121 Money market fund shares 898.3 942.7 1106.5 1345.7 1580.4 1312.9 1129.2 1109.9 1110.2 1135.7 121

122 Equity in noncorporate business 7307.9 8423.9 8845.3 8933.1 7488.1 6258.6 6894.2 7587.0 8386.5 9502.9 122

123 Equity investment under Public-Private Inv. Program (3) 0.0 0.0 0.0 0.0 0.0 0.9 3.8 4.4 4.4 4.4 123

124 Insurance, pension and standardized guarantee schemes 14185.2 15162.5 16185.0 17056.6 16105.1 17367.7 18977.6 19521.4 20515.5 22047.3 124

125 Insurance receivables due from property-casualty insurance companies 290.4 316.0 320.5 327.3 337.3 346.0 310.8 347.5 329.8 369.5 125

126 Life insurance reserves 1060.4 1082.6 1055.2 1077.2 1050.2 1109.5 1137.5 1199.3 1186.4 1233.0 126

127 Pension entitlements (4) 12571.1 13471.3 14483.7 15267.2 14288.6 15458.1 17035.7 17447.7 18460.8 19893.7 127

128 Non-life insurance reserves at life insurance companies 211.0 217.3 232.1 247.6 265.2 273.6 290.7 305.5 303.7 304.2 128

129 Retiree Health Care Funds 52.4 75.4 93.5 137.3 163.8 180.4 202.9 221.4 234.8 246.9 129

130 Total liabilities and net worth 66957.6 74015.9 79760.8 81117.1 70771.4 72333.2 76239.9 77449.5 83501.9 93054.2 130

131 Liabilities 11004.1 12162.4 13461.1 14395.3 14279.3 14062.8 13782.3 13570.9 13637.8 13792.5 131

132 Debt securities (municipals) 197.6 212.7 229.1 250.2 259.5 265.4 263.2 255.5 241.0 227.8 132

133 Loans 10610.8 11741.1 13009.2 13906.7 13756.1 13497.1 13245.5 13041.2 13117.9 13281.7 133

134 Short term 2586.3 2655.5 2908.1 3089.4 2974.5 2873.1 3122.2 3143.9 3428.6 3672.0 134

135 Consumer credit 2220.1 2320.6 2461.3 2615.1 2650.0 2552.3 2646.9 2755.4 2922.9 3098.8 135

136 Depository institution loans n.e.c. -16.8 -16.5 30.9 21.8 26.4 -15.9 61.0 11.5 62.6 92.7 136

137 Other loans and advances 119.0 119.0 123.8 127.0 133.2 133.7 136.1 138.1 139.3 141.3 137

138 Security credit 264.0 232.4 292.1 325.5 164.8 203.0 278.2 238.9 303.7 339.2 138

139 Long term (mortgages) 8024.5 9085.5 10101.1 10817.3 10781.6 10624.1 10123.3 9897.3 9689.3 9609.7 139

140 Insurance, pension and standardized guarantee schemes 22.5 22.4 22.8 23.9 27.0 22.1 24.7 24.3 24.9 27.9 140

141 Other accounts payable (trade debt) 173.3 186.3 199.9 214.5 236.7 278.2 248.8 250.0 254.0 255.0 141

142 Net worth 55953.6 61853.5 66299.7 66721.8 56492.1 58270.4 62457.6 63878.6 69864.2 79261.7 142

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Funds invested by financial institutions such as domestic hedge funds through the Public-Private Investment Program (PPIP).

(4) Includes variable annuities, including those in IRAs, at life insurance companies.

(5) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

NPISHs Nonprofit institutions serving households

n.e.c. Not elsewhere classified
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Current account

 1 Gross value added 2079.1 2218.8 2440.1 2513.9 2632.4 2466.4 2546.2 2751.6 2926.1 3055.2 1

 2 Less: Consumption of fixed capital 196.4 214.4 232.6 245.6 254.5 253.0 251.8 265.0 271.7 281.7 2

 3 Equals: Net value added 1882.7 2004.4 2207.5 2268.3 2378.0 2213.4 2294.4 2486.6 2654.4 2773.5 3

 4 Compensation of employees (paid) 599.1 664.7 747.4 827.5 843.4 805.4 816.6 845.9 895.8 926.6 4

 5 Wages and salaries 503.5 557.9 631.2 701.8 712.1 675.0 684.6 713.1 756.0 781.4 5

 6 Employers’ social contributions 95.6 106.8 116.3 125.7 131.3 130.4 131.9 132.8 139.9 145.2 6

 7 Taxes on production and imports less subsidies 125.4 130.2 147.0 157.6 157.9 145.4 150.7 158.7 163.9 167.1 7

 8 Operating surplus, net 1158.3 1209.4 1313.0 1283.2 1376.7 1262.6 1327.1 1482.0 1594.6 1679.9 8

 9 Net national income/Balance of primary incomes, net 20.1 21.8 22.7 19.8 15.0 21.0 23.0 25.5 26.5 24.8 9

10 Operating surplus, net 1158.3 1209.4 1313.0 1283.2 1376.7 1262.6 1327.1 1482.0 1594.6 1679.9 10

11 Property income (interest received) 17.3 18.1 19.1 17.7 13.6 9.4 8.4 9.1 10.6 9.4 11

12 Less: Uses of property income (paid) 1155.5 1205.7 1309.5 1281.1 1375.3 1251.0 1312.5 1465.5 1578.7 1664.5 12

13 Interest 170.3 198.8 227.6 254.2 263.1 242.7 237.9 226.9 225.7 231.7 13

14 Withdrawals from income of quasi-corporations (1) 985.1 1006.8 1081.8 1026.8 1112.2 1008.3 1074.5 1238.4 1352.8 1432.6 14

15 Reinvested earnings on foreign direct investment 0.1 0.1 0.1 0.1 0.1 0.0 0.1 0.2 0.2 0.2 15

16 Rents on land and natural resources 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 Net national income/Balance of primary incomes, net 20.1 21.8 22.7 19.8 15.0 21.0 23.0 25.5 26.5 24.8 17

18 Less: Other current transfers (paid) 20.1 21.8 22.7 19.8 15.0 21.0 23.0 25.5 26.5 24.8 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 5.0 13.1 0.0 0.0 3.3 6.0 7.8 1.6 4.9 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) -5.0 -13.1 0.0 0.0 -3.3 -6.0 -7.8 -1.6 -4.9 -0.0 23

24 Capital formation, net 77.4 81.9 77.7 71.1 50.8 -21.0 -5.1 16.7 32.0 56.3 24

25 Gross fixed capital formation 260.3 289.2 305.0 313.5 307.5 248.8 243.1 274.8 300.7 320.6 25

26 Nonresidential 162.2 180.5 198.9 215.0 223.8 182.9 184.9 214.6 231.8 240.7 26

27 Residential 98.1 108.7 106.2 98.5 83.7 65.8 58.3 60.2 68.9 79.9 27

28 Less: Consumption of fixed capital 196.4 214.4 232.6 245.6 254.5 253.0 251.8 265.0 271.7 281.7 28

29 Change in private inventories 13.5 7.1 5.3 3.3 -2.3 -16.8 3.6 6.8 3.0 17.4 29

30 Net lending (+) or borrowing (-), capital account (lines 21-24) -72.4 -68.8 -77.7 -71.1 -47.5 27.0 12.8 -15.1 -27.1 -56.2 30

 Financial account

31 Net lending (+) or borrowing (-) (line 30) -72.4 -68.8 -77.7 -71.1 -47.5 27.0 12.8 -15.1 -27.1 -56.2 31

32 Net acquisition of financial assets 370.8 437.3 519.9 479.5 97.3 -117.1 152.0 186.3 301.8 77.4 32

33 Currency and deposits 93.7 100.2 95.0 81.8 2.5 10.1 0.2 27.0 69.6 13.3 33

34 Currency and transferable deposits 106.9 76.7 74.7 66.9 3.8 14.9 -2.7 21.0 59.5 2.5 34

35 Time and savings deposits -13.2 23.5 20.3 14.9 -1.2 -4.8 2.9 6.0 10.1 10.8 35

36 Debt securities 7.0 6.1 1.5 2.5 -7.9 -5.5 2.5 1.1 4.2 1.7 36

37 Treasury securities 5.3 6.0 0.2 3.0 -7.5 -5.7 1.9 0.8 4.0 1.5 37

38 Municipal securities 1.7 0.1 1.3 -0.5 -0.4 0.2 0.5 0.3 0.2 0.2 38

39 Loans 4.6 5.3 -1.5 7.4 -3.0 -1.2 4.2 -5.8 -2.4 1.0 39

40 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40

41 Long term (mortgages) 4.6 5.3 -1.5 7.4 -3.0 -1.2 4.2 -5.8 -2.4 1.0 41

42 Equity and investment fund shares 3.0 2.4 3.3 2.9 2.2 -1.7 3.5 1.1 3.2 2.9 42

43 Money market mutual fund shares 2.9 2.4 3.2 2.2 1.0 -1.7 3.1 0.8 3.0 2.3 43

44 Equity in government-sponsored enterprises (2) 0.0 -0.1 0.2 0.7 1.2 -0.0 0.4 0.3 0.2 0.6 44

45 Insurance, pension and standardized guarantee schemes (3) 4.6 5.5 4.4 3.7 3.4 -9.8 29.9 -11.6 15.9 -27.4 45

46 Other accounts receivable 258.1 317.8 417.2 381.1 100.0 -109.0 111.8 174.5 211.4 85.8 46

47 Trade receivables 26.6 66.6 40.0 54.7 -3.0 -26.3 37.0 61.0 4.6 17.4 47

48 Other (miscellaneous assets) 231.4 251.2 377.2 326.4 102.9 -82.7 74.7 113.5 206.9 68.5 48

49 Net incurrence of liabilities 430.0 491.3 583.8 536.5 134.4 -161.8 122.4 201.4 328.9 133.6 49

50 Loans 254.7 341.8 415.4 463.2 325.5 -97.1 -19.4 3.2 126.0 119.0 50

51 Short term 34.1 164.3 132.1 154.5 131.8 -107.3 -12.1 34.1 67.6 52.4 51

52 Depository institution loans n.e.c. 33.0 157.9 115.3 140.9 119.6 -102.0 -16.8 33.5 58.3 46.2 52

53 Other loans and advances 1.2 6.4 16.8 13.7 12.3 -5.3 4.7 0.6 9.3 6.2 53

54 Long term (mortgages) 220.6 177.5 283.3 308.7 193.7 10.2 -7.3 -30.9 58.4 66.7 54
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

55 Equity and investment fund shares 74.4 -51.6 0.4 -50.5 -317.9 -108.0 166.7 163.8 127.4 80.0 55

56 Equity in noncorporate business 74.6 -51.6 1.3 -50.3 -317.7 -108.2 166.4 163.8 126.8 79.5 56

57 Foreign direct investment in the United States -0.2 0.1 -0.9 -0.2 -0.2 0.1 0.3 0.0 0.6 0.5 57

58 Other accounts payable 100.8 201.0 168.0 123.7 126.8 43.3 -24.8 34.4 75.4 -65.4 58

59 Trade payables 23.7 49.7 14.3 26.0 5.8 16.9 30.3 54.8 16.0 16.4 59

60 Taxes payable 8.4 8.7 9.0 3.8 6.7 -6.3 -0.7 0.6 7.6 3.6 60

61 Other (miscellaneous liabilities) 68.8 142.7 144.6 93.9 114.3 32.6 -54.3 -21.0 51.8 -85.4 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 32-49) -59.1 -54.0 -63.9 -57.0 -37.1 44.8 29.5 -15.1 -27.0 -56.2 62

 Other changes in volume account

63 Total other volume changes 68.0 -76.1 1.3 -48.7 -315.4 -96.6 181.4 171.2 125.1 83.9 63

64 Disaster losses -6.6 -24.5 0.0 0.0 -4.4 0.0 0.0 0.0 -8.6 -0.0 64

65 Other volume changes 74.6 -51.6 1.3 -48.7 -311.0 -96.6 181.4 171.2 133.7 83.9 65

 Revaluation account

66 Nonfinancial assets 1151.3 1178.7 423.3 133.8 -1130.6 -1142.1 445.5 524.8 663.9 1032.3 66

67 Real estate 1125.7 1143.3 387.3 79.8 -1166.1 -1167.9 386.0 478.4 647.1 1043.9 67

68 Residential 667.1 801.4 55.9 -366.9 -804.1 -465.7 154.6 203.4 389.6 564.1 68

69 Nonresidential 458.7 341.9 331.4 446.7 -362.1 -702.2 231.4 275.0 257.5 479.9 69

70 Equipment 23.9 22.8 28.4 24.2 34.6 18.7 21.6 16.5 8.8 4.3 70

71 Residential -0.5 1.1 0.7 -0.5 0.1 -2.7 -2.3 1.0 -0.4 -2.1 71

72 Nonresidential 24.3 21.8 27.7 24.7 34.4 21.4 23.9 15.6 9.1 6.4 72

73 Intellectual property products 5.1 7.5 8.5 8.6 6.4 7.5 7.2 2.3 4.0 2.6 73

74 Inventories -3.4 5.0 -0.9 21.2 -5.4 -0.3 30.7 27.6 4.1 -18.5 74

75 Liabilities (direct investment in the U.S.) -0.0 0.2 1.2 0.2 0.3 1.0 0.2 0.8 -0.1 0.2 75

76 Changes in net worth due to nominal holding gains/losses 1151.3 1178.5 422.1 133.5 -1130.8 -1143.1 445.3 524.1 664.1 1032.1 76

 Changes in balance sheet account

77 Change in net worth (lines 24+30+63+76) 1224.4 1115.5 423.4 84.8 -1443.0 -1233.7 634.5 696.9 794.1 1116.1 77

 Balance sheet account (end of period)

78 Total assets 10934.1 12592.6 13599.7 14270.0 13272.7 11974.8 12550.4 13278.2 14267.3 15433.2 78

79 Nonfinancial assets 8774.6 9995.9 10483.0 10673.9 9579.3 8398.4 8822.1 9363.6 10050.9 11139.5 79

80 Real estate 7897.0 9055.3 9480.2 9597.0 8461.4 7296.4 7666.3 8134.9 8782.9 9842.4 80

81 Residential (4) 5000.2 5816.8 5900.9 5552.3 4749.1 4273.4 4411.1 4599.9 4975.9 5541.7 81

82 Nonresidential 2896.7 3238.5 3579.3 4044.7 3712.3 3023.0 3255.2 3535.0 3807.0 4300.7 82

83 Equipment 536.0 574.4 620.5 659.4 699.6 696.3 709.2 740.7 763.2 784.9 83

84 Residential 38.5 41.7 44.4 45.5 46.6 44.0 42.2 43.9 44.3 43.3 84

85 Nonresidential 497.5 532.7 576.1 613.9 653.0 652.4 667.0 696.8 718.9 741.5 85

86 Intellectual property products 135.3 147.6 159.5 170.1 178.6 183.2 189.9 196.6 206.4 214.9 86

87 Inventories 206.3 218.4 222.8 247.3 239.6 222.5 256.9 291.3 298.5 297.3 87

88 Financial assets 2159.5 2596.8 3116.6 3596.1 3693.4 3576.3 3728.3 3914.6 4216.4 4293.7 88

89 Currency and deposits 598.1 698.3 793.2 875.0 877.6 887.7 887.9 914.9 984.5 997.8 89

90 Currency and transferable deposits 297.5 374.2 448.8 515.7 519.5 534.4 531.6 552.7 612.2 614.6 90

91 Time and savings deposits 300.6 324.1 344.4 359.3 358.1 353.3 356.2 362.2 372.3 383.1 91

92 Debt securities 54.5 60.6 62.1 64.6 56.7 51.2 53.7 54.8 59.0 60.7 92

93 Treasury securities 50.2 56.2 56.3 59.3 51.8 46.1 48.1 48.9 52.9 54.5 93

94 Municipal securities 4.3 4.4 5.8 5.3 4.9 5.1 5.6 5.9 6.1 6.3 94

95 Loans 30.8 36.2 34.6 42.1 39.1 37.9 42.1 36.3 33.9 34.8 95

96 Short term (consumer credit) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 96

97 Long term (mortgages) 30.8 36.2 34.6 42.1 39.1 37.9 42.1 36.3 33.9 34.8 97

98 Equity and investment fund shares 70.8 73.1 76.5 79.3 81.7 80.1 83.5 84.7 87.8 90.8 98

99 Money market mutual fund shares 66.5 69.0 72.2 74.3 75.4 73.7 76.8 77.7 80.7 83.0 99

100 Equity in government-sponsored enterprises (2) 4.2 4.1 4.3 5.0 6.4 6.3 6.7 7.0 7.2 7.8 100

101 Insurance, pension and standardized guarantee schemes (3) 93.8 99.3 103.7 107.4 111.6 101.8 131.7 120.1 135.9 108.5 101

102 Other accounts receivable 1311.5 1629.3 2046.5 2427.6 2526.6 2417.6 2529.4 2703.9 2915.3 3001.1 102

103 Trade receivables 364.3 430.9 470.9 525.6 522.7 496.3 533.4 594.4 598.9 616.3 103

104 Other (miscellaneous assets) 947.1 1198.4 1575.6 1902.0 2003.9 1921.3 1996.0 2109.5 2316.4 2384.8 104
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

105 Total liabilities and net worth 10934.1 12592.6 13599.7 14270.0 13272.7 11974.8 12550.4 13278.2 14267.3 15433.2 105

106 Liabilities 3637.4 4180.5 4764.1 5349.5 5795.2 5731.0 5672.2 5703.0 5898.1 5947.9 106

107 Loans 2556.2 2898.0 3313.4 3775.1 4094.0 3985.4 3950.9 3946.6 4068.2 4182.8 107

108 Short term 640.9 805.2 937.3 1091.8 1223.7 1116.4 1098.2 1132.3 1202.4 1254.7 108

109 Depository institution loans n.e.c. 512.6 670.5 785.8 926.7 1046.2 944.2 927.4 960.9 1021.7 1067.9 109

110 Other loans and advances 128.3 134.6 151.5 165.2 177.4 172.1 170.8 171.3 180.7 186.9 110

111 Long term (mortgages) 1915.3 2092.9 2376.1 2683.3 2870.3 2869.0 2852.7 2814.3 2865.8 2928.0 111

112 Equity and investment fund shares (direct investment in the U.S.) 3.0 3.3 3.6 3.6 3.7 4.8 5.3 6.1 6.6 7.3 112

113 Other accounts payable 1078.1 1279.1 1447.1 1570.8 1697.6 1740.8 1716.0 1750.4 1823.3 1757.9 113

114 Trade payables 284.9 334.5 348.9 374.9 380.7 397.6 427.8 482.7 496.2 512.7 114

115 Taxes payable 78.0 86.7 95.7 99.5 106.2 99.9 99.2 99.7 107.4 110.9 115

116 Other (miscellaneous liabilities) 715.2 857.9 1002.5 1096.4 1210.7 1243.3 1189.0 1168.0 1219.7 1134.3 116

117 Net worth 7296.7 8412.2 8835.6 8920.4 7477.5 6243.8 6878.3 7575.2 8369.2 9485.3 117

Notes. Nonfinancial noncorporate business includes noncorporate farms that are excluded from the nonfinancial noncorporate business sector in the Financial Accounts of the United States.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) Net equity in reserves of property-casualty insurance companies.

(4) Farm houses are included in the household sector.

n.e.c. Not elsewhere classified
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Current account

 1 Gross value added 6107.9 6532.1 6988.0 7203.9 7256.8 6859.8 7238.7 7592.3 8030.3 8287.0 1

 2 Less: Consumption of fixed capital 850.2 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1139.2 1183.8 1229.8 2

 3 Equals: Net value added 5257.7 5622.2 6008.7 6163.6 6162.8 5767.8 6144.2 6453.1 6846.5 7057.2 3

 4 Compensation of employees (paid) 3762.8 3930.3 4129.3 4305.3 4358.0 4088.4 4158.7 4363.4 4592.9 4749.4 4

 5 Wages and salaries 3099.9 3238.0 3420.9 3572.1 3619.5 3377.5 3446.1 3622.9 3826.5 3956.0 5

 6 Employers’ social contributions 662.9 692.3 708.5 733.3 738.5 710.9 712.6 740.4 766.4 793.3 6

 7 Taxes on production and imports less subsidies 530.9 573.2 610.1 632.5 632.7 605.9 633.0 670.6 692.2 715.2 7

 8 Operating surplus, net 964.1 1118.7 1269.3 1225.8 1172.2 1073.5 1352.5 1419.1 1561.3 1592.6 8

 9 Net national income/Balance of primary incomes, net 561.7 757.8 764.6 669.1 574.5 630.6 907.3 903.4 927.5 985.7 9

10 Operating surplus, net 964.1 1118.7 1269.3 1225.8 1172.2 1073.5 1352.5 1419.1 1561.3 1592.6 10

11 Property income (received) 480.6 614.6 644.1 687.4 626.9 563.8 580.3 549.6 534.8 563.0 11

12 Interest 251.9 296.9 357.6 379.4 302.8 214.6 177.5 176.3 163.7 166.3 12

13 Distributed income of corporations (dividends) 66.3 300.3 79.7 92.3 108.0 139.0 134.4 94.8 106.3 91.9 13

14 Reinvested earnings on U.S. direct investment abroad 162.4 17.4 206.9 215.7 216.1 210.2 268.3 278.5 264.8 304.7 14

15 Less: Uses of property income (paid) 883.0 975.6 1148.8 1244.1 1224.6 1006.8 1025.4 1065.3 1168.6 1169.9 15

16 Interest 394.6 451.0 521.1 605.7 584.5 480.0 444.5 444.3 440.6 438.4 16

17 Distributed income of corporations (dividends) 430.8 471.1 550.8 576.9 582.2 490.4 509.9 535.8 626.9 628.8 17

18 Reinvested earnings on foreign direct investment 40.5 34.0 56.6 38.9 32.1 18.1 51.8 63.5 78.6 81.0 18

19 Rent 17.1 19.4 20.3 22.6 25.9 18.2 19.2 21.7 22.5 21.7 19

20 Net national income/Balance of primary incomes, net 561.7 757.8 764.6 669.1 574.5 630.6 907.3 903.4 927.5 985.7 20

21 Less: Current taxes on income, wealth, etc. (paid) 187.0 271.9 307.7 293.8 227.4 177.8 220.6 228.8 271.4 329.3 21

22 Less: Other current transfers (paid) 62.0 74.2 70.4 62.2 50.3 71.8 83.3 90.4 92.4 85.0 22

23 Equals: Disposable income, net 312.7 411.7 386.5 313.1 296.7 381.0 603.5 584.2 563.7 571.3 23

24 Equals: Net saving 312.7 411.7 386.5 313.1 296.7 381.0 603.5 584.2 563.7 571.3 24

 Capital account

25 Net saving less capital transfers 319.3 427.2 386.5 313.1 300.4 342.7 582.5 590.6 580.4 577.0 25

26 Net saving 312.7 411.7 386.5 313.1 296.7 381.0 603.5 584.2 563.7 571.3 26

27 Less: Capital transfers paid (net) -6.7 -15.5 -0.0 -0.0 -3.7 38.3 20.9 -6.4 -16.7 -5.7 27

28 Capital formation, net 208.4 277.0 355.8 339.5 266.6 -74.6 143.3 199.1 299.5 310.7 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 1010.1 1133.4 1259.9 1348.2 1372.7 1141.9 1181.0 1303.9 1420.5 1482.5 29

30 Less: Consumption of fixed capital 850.2 909.9 979.4 1040.3 1093.9 1092.0 1094.6 1139.2 1183.8 1229.8 30

31 Acquisition of nonproduced nonfinancial assets -1.8 1.0 13.6 0.4 17.6 6.3 -1.1 -0.5 0.9 1.3 31

32 Change in private inventories 50.3 52.5 61.7 31.2 -29.7 -130.8 57.9 34.9 61.8 56.7 32

33 Net lending (+) or borrowing (-), capital account (lines 25-28) 111.0 150.2 30.7 -26.4 33.8 417.2 439.3 391.4 280.9 266.2 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 111.0 150.2 30.7 -26.4 33.8 417.2 439.3 391.4 280.9 266.2 34

35 Net acquisition of financial assets 779.1 944.5 700.1 1072.8 -608.8 299.8 632.7 493.4 506.2 1070.5 35

36 Currency and deposits 56.2 120.6 -84.8 -62.4 -214.0 254.5 148.6 37.1 -11.9 168.8 36

37 Currency and transferable deposits 3.0 60.8 -117.2 -7.6 -59.0 70.8 79.6 29.7 -45.7 85.1 37

38 Time and savings deposits 37.7 49.9 46.6 -55.7 -129.4 176.9 59.9 13.2 33.3 41.0 38

39 Foreign deposits 15.6 9.9 -14.2 0.9 -25.5 6.8 9.1 -5.8 0.6 42.7 39

40 Debt securities 16.2 40.4 -1.2 -61.7 -25.7 16.3 15.6 -8.5 -12.5 -22.0 40

41 Open market paper 19.3 16.0 11.7 -53.2 -12.2 -1.3 12.0 -0.1 -8.4 -21.3 41

42 Treasury securities 0.3 18.1 -6.7 -7.1 -7.9 12.5 5.1 -5.1 -3.5 3.3 42

43 Agency- and GSE-backed securities (1) 0.1 6.0 -2.2 -2.4 -2.6 4.2 1.7 -1.7 -1.2 -2.9 43

44 Municipal securities -3.6 0.3 -4.0 1.1 -3.0 0.9 -3.2 -1.6 0.6 -1.1 44

45 Loans 15.4 10.2 -14.0 -21.6 -9.7 -5.5 -8.7 1.9 -3.3 -3.3 45

46 Short term (security repos and consumer credit) 0.6 8.5 -5.6 -3.2 -2.0 -1.4 -7.1 2.4 -1.4 -5.1 46

47 Long term (mortgages) 14.8 1.7 -8.4 -18.4 -7.7 -4.1 -1.6 -0.6 -1.9 1.8 47

48 Equity and investment fund shares 284.1 142.5 334.9 374.6 423.5 224.3 183.5 364.0 373.9 372.9 48

49 Money market fund shares 10.3 52.7 69.1 127.2 178.5 -71.4 -157.7 -35.4 57.1 39.7 49

50 Mutual fund shares -1.3 0.7 23.6 -4.9 -16.5 35.3 11.1 -12.8 -1.7 1.0 50

51 U.S. direct investment abroad 272.4 24.7 219.2 307.0 262.6 269.7 303.3 403.9 315.9 317.4 51

52 Equity in government-sponsored enterprises (1) 0.1 0.0 0.1 0.1 -0.1 0.0 0.1 -0.0 0.0 0.0 52

53 Investment in finance company subsidiaries 2.6 64.4 22.9 -54.8 -1.1 -9.3 26.7 8.4 2.6 14.7 53

54 Insurance, pension and standardized guarantee schemes (2) 19.7 21.2 7.6 8.3 10.9 -4.0 11.7 10.1 7.6 -6.6 54
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55 Other accounts receivable 387.5 609.6 457.7 835.5 -793.9 -185.9 282.0 88.9 152.2 560.7 55

56 Trade receivables 128.9 277.6 -13.7 159.8 -169.6 -31.2 105.7 83.7 52.0 277.2 56

57 Other (miscellaneous assets) 258.6 332.0 471.4 675.7 -624.3 -154.7 176.3 5.1 100.2 283.5 57

58 Net incurrence of liabilities 614.1 965.4 839.1 1281.0 338.9 -248.7 487.6 894.3 985.1 1001.1 58

59 Debt securities 13.5 -7.1 150.4 199.5 190.2 179.7 237.0 204.0 352.7 303.3 59

60 Open market paper 15.3 -7.7 22.4 11.3 7.7 -73.1 24.5 33.4 14.0 14.2 60

61 Municipal securities 10.6 41.9 53.3 68.4 66.0 37.2 33.2 8.5 15.2 9.3 61

62 Corporate bonds -12.3 -41.3 74.6 119.9 116.5 215.6 179.3 162.0 323.5 279.8 62

63 Loans 129.8 274.1 237.9 453.0 72.0 -538.4 -308.0 90.9 9.9 124.8 63

64 Short term 55.0 83.0 149.9 383.8 132.1 -394.8 -177.5 152.3 74.1 103.6 64

65 Depository institution loans n.e.c. 4.0 -27.1 22.0 96.3 64.2 -234.0 -87.0 92.1 107.8 49.9 65

66 Other loans and advances 51.1 110.1 127.9 287.5 68.0 -160.8 -90.4 60.2 -33.7 53.7 66

67 Long term (mortgages) 74.7 191.1 88.0 69.2 -60.1 -143.5 -130.5 -61.3 -64.3 21.2 67

68 Equity and investment fund shares 2.5 -201.5 -304.9 -494.2 -126.0 53.5 -93.6 -261.9 -174.8 -145.8 68

69 Corporate equities -93.4 -300.2 -496.9 -706.3 -315.6 -51.2 -250.7 -454.6 -344.9 -352.9 69

70 Foreign direct investment in the United States 96.0 98.7 192.0 212.1 189.6 104.6 157.0 192.7 170.1 207.1 70

71 Insurance, pension and standardized guarantee schemes 81.2 91.2 146.4 -0.4 138.2 74.2 -5.3 -13.8 -4.0 11.5 71

72 Pension fund contributions payable -3.1 -1.9 -2.0 4.5 14.7 -8.6 15.4 3.0 -12.3 -0.6 72

73 Claim of pension fund on sponsor 84.3 93.0 148.4 -5.0 123.4 82.8 -20.7 -16.8 8.4 12.1 73

74 Other accounts payable 387.0 808.8 609.3 1123.1 64.5 -17.7 657.4 875.1 801.3 707.3 74

75 Trade payables 97.7 199.0 109.1 85.1 -225.2 -82.6 156.3 25.2 66.2 105.4 75

76 Taxes payable 6.8 -1.8 -0.8 -49.6 3.1 -3.3 7.2 8.8 2.3 -9.1 76

77 Miscellaneous liabilities 282.6 611.6 501.0 1087.6 286.6 68.2 493.9 841.1 732.8 611.0 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-58) 165.0 -20.9 -139.0 -208.2 -947.7 548.5 145.2 -400.9 -478.9 69.4 78

 Other changes in volume account

79 Total other volume changes 267.2 288.5 576.9 678.9 -744.2 172.3 379.3 -58.2 -196.0 533.2 79

80 Disaster losses -9.2 -22.7 0.0 0.0 -5.8 0.0 0.0 0.0 -6.9 0.0 80

81 Other volume changes 182.9 450.2 711.0 821.2 206.1 47.7 632.4 665.8 561.3 733.4 81

82 Less: Statistical discrepancy (lines 33-78) (3) -54.0 171.2 169.7 181.7 981.5 -131.2 294.1 792.3 759.8 196.8 82

83 Less: Inventory valuation adjustment -39.5 -32.1 -35.7 -39.5 -37.0 6.7 -41.0 -68.3 -9.5 3.3 83

 Revaluation account

84 Nonfinancial assets 1316.0 931.9 973.1 1466.7 -1107.9 -2627.7 857.2 823.0 564.5 1396.3 84

85 Real estate 1198.8 811.3 872.4 1343.5 -1152.5 -2646.3 724.5 684.9 478.2 1361.9 85

86 Equipment 64.9 45.0 70.9 22.6 99.9 -16.1 41.1 76.6 30.1 8.6 86

87 Intellectual property products 10.9 27.9 20.5 30.2 13.2 3.1 22.5 27.9 43.5 26.1 87

88 Inventories 41.4 47.7 9.2 70.4 -68.4 31.6 69.1 33.7 12.7 -0.3 88

89 Financial assets 89.2 94.5 31.0 154.8 -199.6 -15.3 -131.9 -55.7 21.3 2.0 89

90 Mutual fund shares 11.9 8.1 15.2 9.7 -55.2 20.4 13.6 -8.1 15.4 30.4 90

91 Direct investment abroad 77.2 86.3 15.9 145.1 -144.4 -35.7 -145.6 -47.6 5.9 -28.4 91

92 Liabilities 1348.6 939.1 2393.9 1861.9 -5499.8 2378.3 2080.2 376.8 1945.2 5103.9 92

93 Corporate equity 1336.8 898.2 2412.7 1834.7 -5398.6 2546.8 2095.0 467.5 1937.1 5109.6 93

94 Foreign direct investment in the United States 11.8 41.0 -18.8 27.1 -101.2 -168.5 -14.8 -90.7 8.1 -5.7 94

95 Changes in net worth due to nominal holding gains/losses 56.6 87.2 -1389.8 -240.3 4192.3 -5021.2 -1354.9 390.6 -1359.4 -3705.7 95

 Changes in balance sheet account

96 Change in net worth (lines 28+33+79+95) (4) 643.2 803.0 -426.3 751.8 3748.5 -4506.3 -393.1 922.9 -975.0 -2595.5 96

 Balance sheet account (end of period)

97 Total assets 23867.3 26068.4 28197.1 31171.7 29514.9 27183.5 28957.9 30545.3 31979.4 34916.5 97

98 Nonfinancial assets (5) 12930.1 14167.8 15537.6 17418.9 16591.7 13866.1 14941.1 16039.7 16894.5 18578.1 98

99 Real estate 7050.9 7924.1 8892.4 10381.5 9359.9 6767.6 7545.7 8275.3 8823.6 10252.9 99

100 Equipment 3145.4 3297.8 3513.6 3673.4 3857.2 3793.1 3853.6 4008.0 4138.0 4261.7 100

101 Intellectual property products 1242.2 1322.0 1401.1 1492.3 1564.1 1600.7 1669.1 1746.9 1839.4 1916.9 101

102 Inventories 1491.6 1623.9 1730.5 1871.7 1810.5 1704.6 1872.7 2009.6 2093.6 2146.6 102

103 Financial assets 10937.3 11900.6 12659.5 13752.8 12923.2 13317.5 14016.8 14505.6 15084.9 16338.4 103

104 Currency and deposits 661.3 781.9 697.1 634.7 420.7 675.2 823.8 860.9 849.1 1017.8 104

105 Currency and transferable deposits 207.2 268.0 150.7 143.1 84.2 154.9 234.5 264.2 218.4 303.5 105

106 Time and savings deposits 400.5 450.4 497.0 441.3 311.9 488.8 548.7 561.9 595.2 636.2 106

107 Foreign deposits 53.7 63.6 49.3 50.3 24.7 31.5 40.6 34.8 35.4 78.1 107
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108 Debt securities 172.2 212.6 211.4 149.7 124.1 140.4 155.9 147.4 135.0 113.0 108

109 Open market paper 95.0 111.0 122.7 69.5 57.3 56.0 68.0 67.9 59.5 38.2 109

110 Treasury securities 34.0 52.1 45.5 38.3 30.5 43.0 48.0 43.0 39.4 42.8 110

111 Agency- and GSE-backed securities (1) 11.3 17.4 15.2 12.8 10.2 14.3 16.0 14.3 13.1 10.3 111

112 Municipal securities 31.8 32.1 28.1 29.2 26.2 27.1 23.9 22.3 22.9 21.8 112

113 Loans 132.2 142.4 126.9 105.2 95.5 90.0 85.1 86.9 83.7 80.4 113

114 Short term 65.6 74.1 67.0 63.8 61.8 60.5 57.1 59.5 58.1 53.1 114

115 Security repurchases 6.4 14.6 15.5 8.1 7.2 7.9 12.1 12.6 9.7 8.8 115

116 Consumer credit 59.2 59.6 51.5 55.8 54.6 52.6 45.0 46.9 48.4 44.2 116

117 Long term (mortgages) 66.6 68.3 59.8 41.4 33.6 29.5 28.0 27.4 25.5 27.4 117

118 Equity and investment fund shares 2543.9 2809.9 3175.9 3701.6 3925.3 4134.3 4148.8 4457.1 4852.3 5227.2 118

119 Money market fund shares 299.6 352.2 421.3 548.5 727.0 655.5 497.8 462.4 519.4 559.1 119

120 Mutual fund shares 125.6 134.4 173.2 178.0 106.3 162.0 186.8 165.9 179.6 211.0 120

121 U.S. direct investment abroad 2094.7 2205.7 2440.7 2892.9 3011.1 3245.1 3402.9 3759.2 4081.0 4370.0 121

122 Equity in government-sponsored enterprises (1) 0.5 0.5 0.6 0.7 0.4 0.4 0.6 0.5 0.6 0.6 122

123 Investment in finance company subsidiaries 23.6 117.0 140.1 81.5 80.5 71.2 60.7 69.1 71.7 86.4 123

124 Insurance, pension and standardized guarantee schemes (2) 262.7 283.9 291.5 299.8 310.9 307.0 318.7 328.8 336.4 329.8 124

125 Other accounts receivable 7165.0 7670.0 8156.7 8861.7 8046.7 7970.5 8484.4 8624.4 8828.5 9570.1 125

126 Trade receivables 1830.6 2108.2 2096.0 2255.8 2086.3 2055.1 2157.1 2240.8 2292.8 2570.0 126

127 Other (miscellaneous assets) 5334.3 5561.7 6060.7 6605.8 5960.5 5915.5 6327.4 6383.6 6535.6 7000.1 127

128 Total liabilities and net worth 23867.3 26068.4 28197.1 31171.7 29514.9 27183.5 28957.9 30545.3 31979.4 34916.5 128

129 Liabilities 22470.2 23868.3 26423.4 28646.2 23240.9 25415.8 27583.2 28247.8 30656.8 36189.4 129

130 Debt securities 2994.9 2987.8 3138.2 3337.7 3527.8 3707.5 3944.6 4148.5 4501.2 4804.5 130

131 Open market paper 97.8 90.1 112.5 123.8 131.5 58.4 82.9 116.3 130.3 144.5 131

132 Municipal securities 185.4 227.3 280.6 349.0 415.0 452.2 485.4 493.9 509.1 518.5 132

133 Corporate bonds 2711.7 2670.4 2745.0 2864.9 2981.4 3197.0 3376.3 3538.3 3861.8 4141.5 133

134 Loans 2006.6 2280.7 2539.4 2998.9 3065.9 2443.4 2068.5 2159.5 2212.9 2310.7 134

135 Short term 1411.3 1494.3 1641.4 2031.7 2163.8 1684.8 1425.3 1577.6 1695.2 1771.9 135

136 Depository institution loans n.e.c. 618.0 590.9 612.9 715.7 779.9 545.8 477.1 569.2 658.4 708.3 136

137 Other loans and advances 793.3 903.4 1028.4 1316.0 1383.9 1139.0 948.1 1008.3 1036.8 1063.6 137

138 Long term (mortgages) 595.3 786.4 898.0 967.2 902.1 758.5 643.3 581.9 517.7 538.9 138

139 Equity and investment fund shares 13498.4 14236.0 16325.1 17692.7 12066.9 14498.6 16485.2 16600.1 18370.5 23328.6 139

140 Corporate equity 12088.6 12686.6 14602.3 15730.7 10016.6 12512.2 14356.5 14369.4 15961.6 20718.3 140

141 Foreign direct investment in the United States 1409.8 1549.4 1722.7 1961.9 2050.3 1986.4 2128.7 2230.7 2408.9 2610.3 141

142 Insurance, pension and standardized guarantee schemes 80.9 14.6 35.9 48.5 761.4 573.0 537.4 611.0 471.2 212.2 142

143 Pension fund contributions payable 46.6 44.8 64.7 69.3 84.0 75.4 90.8 93.8 81.4 80.9 143

144 Claim of pension fund on sponsor 34.3 -30.1 -28.8 -20.8 677.4 497.6 446.5 517.2 389.8 131.4 144

145 Other accounts payable 3889.3 4349.2 4384.9 4568.4 3818.9 4193.3 4547.5 4728.7 5101.1 5533.3 145

146 Trade payables 1501.5 1700.5 1812.9 1897.9 1672.7 1590.1 1746.4 1771.6 1837.8 1943.2 146

147 Taxes payable 88.0 86.2 85.4 35.8 39.0 35.7 42.9 51.7 54.0 44.9 147

148 Miscellaneous liabilities 2299.8 2562.4 2486.6 2634.7 2107.2 2567.5 2758.3 2905.4 3209.3 3545.2 148

149 Net worth 1397.1 2200.1 1773.7 2525.5 6274.0 1767.7 1374.7 2297.6 1322.6 -1272.9 149

Notes. Nonfinancial corporate business includes corporate farms that are excluded from the nonfinancial corporate business sector in the Financial Accounts of the United States.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

 the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) Net equity in reserves of property-casualty insurance companies.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Includes changes in the market value of shares and other equity that are excluded from the related measures for the nonfinancial corporate business sector in the Financial Accounts of the United States.

(5) Excludes nonproduced nonfinancial assets.

n.e.c. Not elsewhere classified
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 Current account

 1 Gross value added 922.1 1034.3 1127.6 1068.8 851.9 1015.4 1042.8 1045.8 1178.3 1307.1 1

 2 Less: Consumption of fixed capital 139.3 148.9 156.8 165.4 173.9 177.4 176.7 168.6 174.1 182.2 2

 3 Equals: Net value added 782.8 885.5 970.9 903.4 678.1 838.0 866.1 877.2 1004.1 1124.9 3

 4 Compensation of employees (paid) 498.5 535.4 579.8 618.2 612.9 549.0 574.3 606.8 631.1 642.3 4

 5 Wages and salaries 423.0 449.4 490.8 527.1 517.9 466.2 486.4 513.5 537.5 546.7 5

 6 Employers’ social contributions 75.5 86.0 89.0 91.1 95.0 82.8 87.9 93.3 93.7 95.5 6

 7 Taxes on production and imports less subsidies 46.6 49.5 52.5 54.7 55.6 64.2 64.8 58.3 61.2 62.8 7

 8 Operating surplus, net 237.7 300.6 338.5 230.5 9.5 224.8 227.1 212.1 311.8 419.8 8

 9 Net national income/Balance of primary incomes, net 213.1 200.3 205.2 110.7 -2.1 290.1 376.8 320.0 309.0 249.3 9

10 Operating surplus, net 237.7 300.6 338.5 230.5 9.5 224.8 227.1 212.1 311.8 419.8 10

11 Property income (received) 1742.7 2154.2 2747.1 3200.8 2833.1 2203.8 2126.7 2109.1 2081.6 2016.3 11

12 Interest 1533.2 1922.3 2444.6 2831.9 2444.8 1877.4 1749.5 1722.4 1662.3 1578.1 12

13 Distributed income of corporations (dividends) 179.4 229.0 261.6 323.1 338.8 275.7 308.9 319.5 361.3 372.7 13

14 Reinvested earnings on U.S. direct investment abroad 30.1 2.9 40.9 45.7 49.5 50.7 68.3 67.2 57.9 65.5 14

15 Less: Uses of property income (paid) 1767.3 2254.5 2880.4 3320.6 2844.7 2138.6 1977.0 2001.2 2084.4 2186.8 15

16 Interest 1394.0 1820.9 2379.0 2754.2 2321.6 1679.7 1505.2 1504.6 1470.2 1426.9 16

17 Distributed income of corporations 364.1 425.5 488.6 556.9 515.8 455.1 460.8 481.5 595.2 741.0 17

18 Dividends 316.7 377.9 438.6 517.0 492.8 380.8 376.0 427.2 521.0 662.5 18

19 Withdrawals from income of quasi-corporations (1) 47.4 47.7 50.0 39.8 23.0 74.4 84.9 54.3 74.2 78.5 19

20 Reinvested earnings on foreign direct investment 9.3 8.0 12.8 9.5 7.3 3.7 10.9 15.1 18.9 18.9 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 213.1 200.3 205.2 110.7 -2.1 290.1 376.8 320.0 309.0 249.3 22

23 Less: Current taxes on income, wealth, etc. (paid) 119.1 140.5 165.7 151.7 81.7 91.6 150.0 150.3 183.4 144.9 23

24 Less: Other current transfers (paid) -6.5 -13.4 -21.1 7.5 45.6 26.5 18.4 20.0 -21.6 2.7 24

25 Equals: Disposable income, net 100.5 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 147.2 101.7 25

26 Equals: Net saving 100.5 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 147.2 101.7 26

 Capital account

27 Net saving less capital transfers 84.3 45.4 60.7 -48.5 -68.9 293.9 249.9 182.1 137.6 101.7 27

28 Net saving 100.5 73.1 60.7 -48.5 -129.4 171.9 208.4 149.7 147.2 101.7 28

29 Less: Capital transfers paid (net) 16.2 27.7 0.0 0.0 -60.5 -121.9 -41.5 -32.4 9.6 0.0 29

30 Capital formation, net 37.2 31.1 31.9 46.1 22.3 -10.5 -13.9 -1.2 16.1 19.2 30

31 Gross fixed capital formation (nonresidential) 176.5 180.0 188.7 211.5 196.2 166.9 162.8 167.5 190.2 201.5 31

32 Less: Consumption of fixed capital 139.3 148.9 156.8 165.4 173.9 177.4 176.7 168.6 174.1 182.2 32

33 Net lending (+) or borrowing (-), capital account (lines 27-30) 47.1 14.3 28.8 -94.6 -91.2 304.4 263.8 183.3 121.5 82.5 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) 47.1 14.3 28.8 -94.6 -91.2 304.4 263.8 183.3 121.5 82.5 34

35 Net acquisition of financial assets 3799.1 3767.7 4614.6 5491.1 3821.1 -1291.2 34.8 2160.1 1800.9 3556.3 35

36 Monetary gold 0.0 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 36

37 Currency and deposits 43.8 -12.2 74.7 170.6 1009.7 228.2 -143.6 527.8 -46.6 820.8 37

38 Debt securities 485.5 641.7 1101.2 982.3 836.6 729.9 783.0 1270.2 1099.3 1513.8 38

39 SDR certificates 0.0 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 39

40 Open market paper 61.1 193.8 232.6 -120.5 5.8 -390.0 -93.7 -74.9 -0.5 34.6 40

41 Treasury securities -42.3 52.1 85.2 36.4 442.6 366.2 505.7 966.0 289.6 531.5 41

42 Agency- and GSE-backed securities (2) -209.6 -249.9 97.2 283.5 726.9 680.6 50.4 166.2 212.5 428.5 42

43 Municipal securities 79.5 115.7 131.2 184.7 42.2 38.4 44.2 13.5 139.2 8.6 43

44 Corporate and foreign bonds 555.9 490.1 519.3 564.8 -444.2 -30.2 210.6 128.6 418.1 412.4 44

45 Nonmarketable government securities 40.9 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 98.2 45

46 Loans 1879.5 2064.8 2110.7 2695.5 1455.5 -2944.5 -509.6 151.2 438.8 161.5 46

47 Short term 665.4 653.2 710.3 1563.4 1224.3 -2877.7 -192.9 307.0 496.6 55.2 47

48 Long term (mortgages) 1214.1 1411.6 1400.4 1132.1 231.1 -66.8 -316.7 -155.8 -57.8 106.3 48

49 Equity and investment fund shares 665.9 544.6 512.6 1245.0 851.1 25.8 -131.9 -76.3 4.8 316.6 49

50 Corporate equities 332.5 289.4 185.5 430.9 223.6 155.1 51.6 -70.2 6.2 196.8 50

51 Mutual fund shares 102.6 54.9 103.4 101.5 55.0 65.0 49.8 -52.4 -45.1 46.3 51

52 Money market mutual fund shares -110.3 12.0 -6.6 331.2 283.6 -175.4 -172.6 -65.4 -81.0 -52.5 52

53 Equity in government-sponsored enterprises (2) 2.4 2.0 -0.0 8.3 -5.3 0.0 -3.2 -6.2 -2.0 -0.2 53

54 U.S. direct investment abroad 43.8 11.5 25.8 107.0 66.4 40.7 -2.3 15.2 17.1 32.1 54

55 Stock in Federal Reserve Banks 3.1 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 0.1 55

56 Investment in subsidiaries 291.9 173.2 202.8 263.1 225.0 -64.1 -56.0 102.4 109.1 94.0 56
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57 Insurance, pension and standardized guarantee schemes 266.1 209.7 276.5 217.8 252.4 505.9 315.2 353.2 371.3 293.6 57

58 Other accounts receivable 458.2 319.1 538.9 179.9 -584.0 163.5 -278.2 -65.9 -66.7 449.9 58

59 Net incurrence of liabilities 3817.6 3432.3 4371.4 5363.2 3953.0 -1306.5 27.0 2111.4 1681.7 3404.8 59

60 Currency and deposits 601.8 608.9 620.6 548.7 2146.1 262.3 334.1 1457.3 595.0 1867.7 60

61 Debt securities 805.8 1039.8 1320.1 1523.7 441.8 -956.6 -695.4 -327.4 -306.4 106.9 61

62 Agency- and GSE-backed securities (2) 115.8 80.4 328.2 905.7 768.7 -60.1 -46.9 -21.9 -22.4 239.9 62

63 Corporate bonds 668.3 745.2 795.5 729.5 -201.6 -448.5 -546.3 -237.4 -225.2 -84.1 63

64 Commercial paper 21.7 214.2 196.4 -111.5 -125.4 -448.1 -102.2 -68.2 -58.8 -48.9 64

65 Loans 610.6 548.8 590.9 880.8 -160.2 -1644.3 -59.6 197.7 130.7 -213.5 65

66 Short term 585.1 534.6 584.3 876.2 -166.9 -1656.1 -60.5 184.3 125.8 -221.3 66

67 Long term (mortgages) 25.5 14.1 6.6 4.7 6.8 11.8 0.8 13.5 4.8 7.8 67

68 Equity and investment fund shares 649.7 698.0 931.5 1469.0 1717.3 270.5 73.8 506.1 973.5 980.9 68

69 Money market mutual fund shares -136.4 125.1 303.1 736.8 724.2 -498.7 -503.2 -112.8 7.1 28.9 69

70 Corporate equity issues 118.1 78.4 60.0 179.6 639.2 315.9 191.4 164.1 168.3 162.5 70

71 Mutual fund shares 296.3 260.2 336.8 361.5 -9.9 497.1 370.1 338.4 624.9 638.4 71

72 Equity in government-sponsored enterprises (2) 2.5 1.9 0.2 9.1 -4.2 0.0 -2.7 -5.9 -1.8 0.5 72

73 Foreign direct investment in the United States 50.2 13.9 52.0 9.3 120.7 45.7 48.5 43.4 4.5 28.7 73

74 Equity in noncorporate business -4.2 -1.2 -6.8 3.6 11.6 0.6 0.9 -2.9 6.7 -3.9 74

75 Investment by parent 320.1 218.1 184.4 166.1 233.0 -94.5 -32.0 81.5 163.3 125.6 75

76 Stock in Federal Reserve Banks 3.1 1.6 1.8 3.1 2.6 4.6 0.9 0.4 0.5 0.1 76

77 Insurance, pension and standardized guarantee schemes 748.3 691.2 699.4 724.8 582.7 542.2 647.3 638.0 487.6 535.9 77

78 Other accounts payable 401.5 -154.3 208.9 216.1 -774.7 219.4 -273.1 -360.3 -198.6 127.0 78

 Addendum:

79 Net lending (+) or borrowing (-), financial account (lines 35-59) -18.5 335.4 243.2 127.9 -131.9 15.3 7.8 48.7 119.1 151.5 79

 Other changes in volume account

80 Total other volume changes -392.2 28.0 -434.2 -66.2 1257.0 -1080.8 -834.0 -103.7 -429.5 -1040.8 80

81 Disaster losses -1.7 -1.7 0.0 0.0 -0.6 0.0 0.0 0.0 -2.0 0.0 81

82 Other volume changes -325.0 -291.4 -648.6 -288.8 1298.3 -791.7 -578.0 30.9 -425.1 -1109.8 82

83 Less: Statistical discrepancy (lines 33-79) (3) 65.6 -321.0 -214.4 -222.5 40.7 289.1 256.0 134.6 2.4 -69.0 83

 Revaluation account

84 Nonfinancial assets 66.5 72.6 63.8 28.6 55.7 -61.9 -2.7 42.2 20.2 34.8 84

85 Structures (nonresidential) 61.3 72.1 62.7 34.0 54.2 -50.2 -0.3 33.2 15.7 31.2 85

86 Equipment 6.6 0.6 0.8 -4.9 3.0 -5.6 1.2 8.3 4.2 2.2 86

87 Intellectual property products -1.4 -0.1 0.3 -0.5 -1.5 -6.1 -3.6 0.6 0.3 1.4 87

88 Financial assets 1197.1 938.7 1802.4 769.4 -6083.7 2730.2 1745.9 -633.1 1909.2 3841.9 88

89 Corporate equities 1007.1 613.1 1457.8 620.2 -5119.4 2162.2 1419.9 -530.8 1528.3 3173.5 89

90 Mutual fund shares 139.4 294.8 308.9 103.4 -975.1 513.9 285.3 -56.8 346.4 678.4 90

91 U.S. direct investment abroad 50.6 30.7 35.7 45.8 10.8 54.2 40.7 -45.5 34.5 -10.0 91

92 Liabilities 1167.4 890.5 1850.7 -530.2 -6515.6 2226.4 1615.8 -830.6 1945.6 3914.2 92

93 Corporate equity issues 459.1 262.4 716.1 -985.4 -2366.0 386.8 526.3 -390.1 693.5 1372.5 93

94 Mutual fund shares 483.8 352.4 682.6 396.0 -2424.7 1035.6 582.2 -340.4 720.3 1579.9 94

95 Foreign direct investment in the United States 4.0 9.4 22.5 -56.7 -157.6 17.9 34.1 28.9 12.5 -48.2 95

96 Equity in noncorporate business 2.4 1.7 4.8 -0.6 -13.6 3.6 0.3 -1.2 -1.3 4.2 96

97 Pension fund reserves 218.1 264.5 424.6 116.4 -1553.7 783.1 474.9 -127.4 520.8 1005.9 97

98 Investment by parent 0.0 0.0 0.0 0.0 0.0 -0.6 -2.0 -0.3 -0.1 0.0 98

99 Changes in net worth due to nominal holding gains/losses 96.2 120.7 15.4 1328.2 487.6 442.0 127.4 239.6 -16.1 -37.5 99

 Changes in balance sheet account

100 Change in net worth (lines 30+33+80+99) -211.7 194.1 -358.1 1213.5 1675.8 -344.9 -456.7 318.0 -308.0 -976.6 100

 Balance sheet account (end of period)

101 Total assets 53015.4 57482.0 63348.4 69554.8 68981.5 69962.4 71081.5 72701.5 76838.8 82774.3 101

102 Nonfinancial assets (4) 1277.0 1383.7 1484.5 1564.8 1649.4 1586.3 1580.2 1621.2 1655.5 1709.6 102

103 Structures (nonresidential) 743.3 824.1 895.9 946.7 1015.8 971.3 963.9 986.3 992.7 1017.3 103

104 Equipment 429.2 449.9 473.3 492.8 498.6 470.3 471.9 485.5 504.9 525.8 104

105 Intellectual property products 104.5 109.7 115.3 125.3 134.9 144.7 144.3 149.4 157.9 166.4 105
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106 Financial assets 51738.4 56098.3 61863.9 67990.0 67332.1 68376.1 69501.3 71080.3 75183.2 81064.8 106

107 Monetary gold 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 11.0 107

108 Currency and deposits 779.8 764.8 814.5 987.0 2034.0 2275.7 2177.8 2705.7 2683.4 3502.9 108

109 Debt securities 14133.9 14758.1 15771.4 16757.2 17598.0 18350.4 18558.8 19828.8 21020.3 22447.1 109

110 SDR certificates 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 110

111 Open market paper 929.2 1124.7 1352.7 1235.9 1243.1 853.0 763.6 688.9 688.3 722.5 111

112 Treasury securities 1595.3 1647.3 1737.2 1773.6 2216.3 2582.5 3088.2 4054.2 4355.9 4887.4 112

113 Agency- and GSE-backed securities (2) 4390.1 4140.2 4153.1 4436.6 5163.4 5898.5 5486.1 5652.3 5879.0 6299.0 113

114 Municipal securities 1230.5 1346.1 1477.0 1661.7 1703.9 1742.3 1786.5 1799.9 1939.1 1947.7 114

115 Corporate and foreign bonds 5130.7 5614.5 6130.5 6695.3 6253.9 6191.7 6286.2 6414.5 6898.8 7233.0 115

116 Nonmarketable government securities 855.9 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 116

117 Loans 17716.9 19781.7 21829.2 24482.6 25801.7 22569.0 21817.8 21817.2 22283.6 22327.1 117

118 Short term 7498.9 8152.1 8775.6 10328.6 11552.6 8622.4 8503.8 8810.8 9480.4 9508.7 118

119 Long term (mortgages) 10218.0 11629.6 13053.6 14154.0 14249.1 13946.6 13313.9 13006.4 12803.3 12818.5 119

120 Equity and investment fund shares 14057.5 15540.7 17408.1 19422.5 14189.9 17622.1 19236.1 18526.7 20867.3 24974.9 120

121 Corporate equities 9473.1 10375.6 11519.5 12570.6 7674.8 9992.0 11463.5 10862.5 12397.0 15767.3 121

122 Mutual fund shares 1836.9 2186.6 2563.5 2768.5 1848.4 2427.3 2762.4 2653.2 2954.5 3679.2 122

123 Money market fund shares 504.4 516.4 563.9 895.0 1178.6 1003.2 830.6 765.2 684.2 631.7 123

124 Equity in government-sponsored enterprises (2) 40.1 42.0 42.0 50.3 45.0 45.0 41.7 35.5 33.5 33.4 124

125 U.S. direct investment abroad 403.8 446.0 507.4 660.2 737.4 832.3 870.7 840.3 891.9 914.0 125

126 Stock in Federal Reserve Banks 11.9 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 27.5 126

127 Investment in subsidiaries 1787.3 1960.6 2196.5 2459.6 2684.6 3296.6 3240.6 3343.0 3878.8 3921.7 127

128 Insurance, pension and standardized guarantee schemes 2286.7 2307.1 2370.0 2480.4 4157.6 4031.4 4401.2 4824.7 4756.9 4076.8 128

129 Other accounts receivable 2752.6 2934.9 3659.6 3849.2 3539.9 3516.5 3298.7 3366.2 3560.6 3724.9 129

130 Total liabilities and net worth 53015.4 57482.0 63348.4 69554.8 68981.5 69962.4 71081.5 72701.5 76838.8 82774.3 130

131 Liabilities 54380.7 58653.1 64877.7 69870.6 67621.5 68947.4 70523.1 71825.1 76270.4 83182.6 131

132 Currency and deposits 7474.0 8082.9 8703.5 9252.2 11398.3 11660.6 11990.6 13447.9 14015.0 15882.7 132

133 Debt securities 10979.4 11964.7 13255.0 14889.6 15251.2 14498.2 13432.9 13032.8 12849.1 12888.9 133

134 Agency- and GSE-backed securities (2) 6060.3 6140.7 6468.9 7374.6 8143.4 8083.3 7574.0 7552.1 7529.7 7769.7 134

135 Corporate bonds 3963.1 4653.8 5422.5 6262.9 5981.5 5736.7 5282.9 4972.8 4870.3 4719.0 135

136 Commercial paper 956.0 1170.2 1363.5 1252.1 1126.3 678.2 576.0 507.9 449.1 400.2 136

137 Loans 4485.0 5033.8 5621.4 6502.3 6342.1 4768.4 4720.7 4913.1 5106.5 4893.0 137

138 Short term 4353.7 4888.3 5469.4 6345.5 6178.6 4593.2 4544.6 4723.5 4912.1 4690.8 138

139 Long term (mortgages) 131.4 145.5 152.1 156.7 163.5 175.3 176.1 189.5 194.4 202.2 139

140 Equity and investment fund shares 13793.2 15146.2 17537.1 18355.7 15111.2 17501.1 18678.6 18481.5 21416.4 25254.7 140

141 Money market fund shares 1868.0 1993.1 2296.3 3033.0 3757.3 3258.6 2755.4 2642.5 2649.6 2678.5 141

142 Corporate equity issues 4291.1 4631.9 5408.0 4602.2 2875.4 3578.1 4295.7 4069.7 4931.6 6466.5 142

143 Mutual fund shares 5433.0 6045.6 7065.0 7822.6 5388.0 6920.7 7873.0 7870.9 9326.1 11544.4 143

144 Equity in government-sponsored enterprises (2) 44.8 46.7 46.9 56.0 51.8 51.8 49.0 43.1 41.2 41.7 144

145 Foreign direct investment in the United States 329.9 353.2 427.8 380.4 343.5 407.0 489.6 561.9 578.9 559.3 145

146 Equity in noncorporate business 11.2 11.7 9.7 12.6 10.7 14.8 15.9 11.9 17.3 17.6 146

147 Investment by parent 1803.4 2050.4 2268.1 2430.5 2663.5 3244.5 3173.4 3254.6 3844.4 3919.0 147

148 Stock in Federal Reserve Banks 11.9 13.5 15.3 18.5 21.1 25.6 26.5 26.9 27.4 27.5 148

149 Insurance, pension and standardized guarantee schemes 14955.4 15960.9 17099.3 17993.0 16895.5 18270.1 19938.3 20476.6 21514.3 23040.1 149

150 Other accounts payable 2693.6 2464.7 2661.3 2877.8 2623.3 2248.9 1762.1 1473.2 1369.2 1223.3 150

151 Net worth -1365.3 -1171.2 -1529.3 -315.8 1360.0 1015.0 558.4 876.4 568.3 -408.2 151

Notes. Financial business includes depository institutions, insurance companies and pension funds, monetary authority, and other financial institutions.

Estimates for 2000 and earlier periods are based on the 1987 Standard Industrial Classification System; later estimates are based on the North American Classification System.

(1) Consists of rental income of tenant-occupied housing and proprietors’ income. Quasi-corporations are unincorporated enterprises that function as if they were corporations;

they primarily cover their operating costs through sales, and they keep a complete set of financial records.

(2) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(3) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(4) Excludes land. Includes corporate and noncorporate financial business.

SDRs Special Drawing Rights
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 Current account

 1 Gross value added 525.8 552.7 577.6 605.4 637.6 668.8 704.5 720.9 722.7 711.3 1

 2 Less: Consumption of fixed capital 178.6 189.4 200.7 212.8 226.3 234.5 245.3 257.4 264.1 268.0 2

 3 Equals: Net value added 347.2 363.3 376.9 392.6 411.3 434.3 459.1 463.5 458.6 443.3 3

 4 Compensation of employees (paid) 342.3 362.4 375.1 390.5 410.4 433.5 462.2 470.6 467.8 458.6 4

 5 Wages and salaries 249.9 263.5 271.7 283.3 296.7 312.2 328.5 331.7 327.1 320.6 5

 6 Employers’ social contributions 92.4 98.9 103.5 107.3 113.7 121.3 133.7 138.9 140.7 138.1 6

 7 Operating surplus, net 4.9 0.9 1.8 2.0 0.8 0.7 -3.1 -7.1 -9.1 -15.3 7

 8 Net national income/Balance of primary incomes, net -226.6 -277.4 -293.5 -325.6 -308.9 -269.9 -286.6 -327.3 -321.8 -206.8 8

 9 Operating surplus, net 4.9 0.9 1.8 2.0 0.8 0.7 -3.1 -7.1 -9.1 -15.3 9

10 Taxes on production and imports, receivable 95.2 99.4 99.2 94.6 94.0 91.4 96.8 108.6 115.0 120.9 10

11 Subsidies (paid) -46.0 -60.5 -51.1 -47.5 -49.6 -56.9 -54.3 -59.5 -57.6 -59.7 11

12 Property income (received) 25.3 27.2 29.0 33.4 33.9 48.5 54.6 56.4 53.6 164.7 12

13 Interest 16.6 17.3 18.8 22.1 19.5 22.8 29.5 27.7 22.3 24.4 13

14 Distributed income of corporations (dividends) 0.1 0.2 0.3 0.2 0.6 18.7 17.0 18.8 21.1 131.3 14

15 Rents on land and natural resources 8.7 9.7 9.9 11.1 13.8 7.0 8.0 9.9 10.2 9.0 15

16 Less: Uses of property income (interest paid) 306.1 344.4 372.3 408.2 388.0 353.6 380.6 425.7 423.8 417.4 16

17 Net national income/Balance of primary incomes, net -226.6 -277.4 -293.5 -325.6 -308.9 -269.9 -286.6 -327.3 -321.8 -206.8 17

18 Plus: Current taxes on income, wealth, etc. (received) 1058.8 1285.2 1459.2 1542.5 1354.1 1072.4 1208.2 1392.7 1536.5 1690.9 18

19 Plus: Social benefits (received) 808.9 853.4 905.7 947.2 974.4 950.8 970.9 904.0 938.1 1092.3 19

20 Less: Social contributions (paid) 1025.5 1090.9 1196.7 1272.2 1407.4 1624.9 1726.6 1744.4 1785.1 1825.6 20

21 Plus: Other current transfers (received) 29.0 32.0 36.8 41.0 46.5 64.0 64.4 65.0 49.9 59.5 21

22 Less: Other current transfers (paid) 362.4 383.5 374.7 400.2 412.9 507.5 555.0 528.0 493.2 496.3 22

23 Equals: Disposable income, net 282.2 418.7 536.9 532.7 245.8 -315.1 -324.8 -238.1 -75.5 313.9 23

24 Less: Final consumption expenditures 681.4 723.4 763.9 798.4 879.8 933.7 1003.9 1006.1 1003.6 963.0 24

25 Equals: Net saving -399.2 -304.7 -227.0 -265.6 -634.0 -1248.8 -1328.7 -1244.1 -1079.1 -649.1 25

 Capital account

26 Net saving less capital transfers -438.6 -365.1 -270.2 -318.6 -751.6 -1435.1 -1455.0 -1358.0 -1163.9 -707.5 26

27 Net saving -399.2 -304.7 -227.0 -265.6 -634.0 -1248.8 -1328.7 -1244.1 -1079.1 -649.1 27

28 Less: Capital transfers paid (net) 39.3 60.3 43.2 53.0 117.6 186.3 126.3 113.9 84.7 58.4 28

29 Capital formation, net 31.6 31.5 22.9 35.3 29.1 40.6 53.7 39.1 21.7 -2.0 29

 Gross fixed capital formation (acquisition of

30 produced nonfinancial assets) 211.0 222.9 238.0 251.4 275.8 284.0 300.0 297.4 287.8 268.5 30

31 Less: Consumption of fixed capital 178.6 189.4 200.7 212.8 226.3 234.5 245.3 257.4 264.1 268.0 31

32 Acquisition of nonproduced nonfinancial assets -0.8 -2.0 -14.4 -3.3 -20.4 -8.9 -1.0 -0.9 -1.9 -2.4 32

33 Net lending (+) or borrowing (-), capital account (lines 26-29) -470.1 -396.6 -293.2 -353.9 -780.6 -1475.7 -1508.7 -1397.1 -1185.6 -705.6 33

 Financial account

34 Net lending (+) or borrowing (-) (line 33) -470.1 -396.6 -293.2 -353.9 -780.6 -1475.7 -1508.7 -1397.1 -1185.6 -705.6 34

35 Net acquisition of financial assets 5.3 30.8 -14.4 0.6 579.8 237.8 281.9 -150.7 132.4 222.1 35

36 Monetary gold and SDRs 0.4 -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 36

37 Monetary gold -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 37

38 SDR holdings 0.4 -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 38

39 Currency and deposits -34.5 1.3 -5.4 25.8 316.0 -170.2 150.5 -239.9 11.1 65.8 39

40 Official foreign currencies 0.3 0.3 0.4 0.5 0.6 0.3 0.3 -0.2 0.2 0.2 40

41 Reserve position in IMF (net) -3.8 -10.2 -3.3 -1.0 3.5 3.4 1.3 18.2 4.0 -3.4 41

42 Currency and transferable deposits -31.0 12.2 -2.7 25.1 313.1 -174.2 148.9 -257.6 6.7 69.6 42

43 Time and savings deposits -0.0 -1.0 0.2 1.2 -1.3 0.3 0.1 -0.3 0.2 -0.5 43

44 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 44

45 Debt securities 0.0 0.0 0.0 0.0 54.4 142.5 -46.9 -118.2 -31.3 -0.1 45

46 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 54.4 142.0 -47.2 -118.1 -31.1 0.0 46

47 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.6 0.3 -0.1 -0.2 -0.1 47

48 Loans 2.3 -3.1 5.9 6.8 39.0 166.7 131.4 136.5 136.2 124.2 48

49 Short term 0.7 -5.5 2.2 4.7 25.5 154.1 136.8 133.2 134.5 120.3 49

50 Consumer credit 3.7 3.7 1.6 7.0 19.5 87.9 133.1 128.5 132.1 113.1 50

51 Other loans and advances -3.0 -9.2 0.5 -2.3 6.1 66.2 3.6 4.8 2.4 7.2 51

52 Long term (mortgages) 1.6 2.4 3.7 2.1 13.5 12.6 -5.4 3.3 1.6 4.0 52

53 Equity and investment fund shares 2.0 1.3 2.0 1.7 257.7 3.4 30.4 43.5 -10.7 -2.6 53

54 Corporate equities 0.0 0.0 0.0 0.0 256.3 0.6 24.1 40.3 -13.2 -4.8 54

55 Equity in international organizations 2.0 1.3 2.0 1.7 1.4 1.7 2.3 2.6 2.4 2.2 55

56 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 56

57 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 1.2 4.0 0.7 0.0 0.0 57
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58 Other accounts receivable 35.1 35.8 -17.1 -33.7 -87.4 47.1 16.5 29.1 27.1 34.8 58

59 Trade receivables 10.5 9.2 -11.6 1.2 4.2 -21.1 -0.7 4.8 2.6 3.3 59

60 Taxes receivable 23.3 26.0 -6.5 -35.3 -62.2 35.9 27.1 25.6 27.9 27.8 60

61 Other (miscellaneous assets) 1.4 0.6 1.0 0.4 -29.4 32.3 -9.8 -1.3 -3.5 3.7 61

62 Net incurrence of liabilities 479.4 453.6 296.0 391.6 1369.0 1536.0 1696.7 1201.7 1249.6 883.4 62

63 SDR allocations 0.0 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 63

64 Currency and deposits 0.7 0.8 0.6 -0.7 -0.8 -0.4 -0.3 0.0 0.0 -0.4 64

65 Debt securities 402.8 346.9 219.1 270.4 1302.5 1508.8 1645.9 1138.7 1180.6 857.3 65

66 SDR certificates 0.0 0.0 0.0 0.0 0.0 3.0 0.0 0.0 0.0 0.0 66

67 Treasury securities including savings bonds 362.5 307.3 183.7 237.5 1239.0 1443.7 1579.6 1066.8 1140.6 759.5 67

68 Federal agency securities -0.6 -0.4 -0.3 -0.4 0.2 0.1 0.7 1.1 -0.4 -0.4 68

69 Nonmarketable securities held by pension plans 40.9 40.0 35.8 33.3 63.3 61.9 65.7 70.8 40.4 98.2 69

70 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 70

71 Insurance, pension and standardized guarantee schemes 59.5 67.2 64.5 93.1 45.1 33.2 43.5 40.6 63.9 5.6 71

72 Insurance reserves 1.1 1.1 1.5 1.6 1.0 1.1 0.9 1.3 0.3 0.2 72

73 Retiree Health Care Funds 17.4 23.0 18.1 43.9 26.5 16.6 22.5 18.5 13.3 12.2 73

74 Claims of pension fund on sponsor 41.0 43.1 44.9 47.7 17.6 15.6 20.2 20.8 50.3 -6.8 74

75 Other accounts payable 16.4 38.7 11.8 28.7 22.2 -53.3 7.6 22.4 5.1 20.9 75

76 Trade payables 15.4 33.7 6.2 29.3 22.6 -56.2 5.2 8.8 13.4 19.6 76

77 Other (miscellaneous liabilities) 1.0 5.0 5.6 -0.6 -0.3 2.9 2.4 13.6 -8.3 1.3 77

 Addendum:

78 Net lending (+) or borrowing (-), financial account (lines 35-62) -474.1 -422.8 -310.4 -390.9 -789.1 -1298.2 -1414.9 -1352.4 -1117.2 -661.3 78

 Other changes in volume account

79 Total other volume changes -28.2 -47.0 30.2 9.3 86.7 121.5 -32.0 46.4 41.3 28.9 79

80 Disaster losses 0.0 -0.5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80

81 Other volume changes -24.2 -20.3 47.4 46.4 95.2 -56.0 -125.8 1.7 -27.1 -15.4 81

82 Less: Statistical discrepancy (lines 33-78) (2) 4.0 26.2 17.2 37.0 8.5 -177.5 -93.8 -44.7 -68.4 -44.3 82

 Revaluation account

83 Nonfinancial assets 114.8 116.8 116.4 93.0 69.0 -36.0 61.3 69.3 41.8 58.9 83

84 Structures 91.6 94.1 95.2 60.7 44.0 -48.4 18.1 49.4 36.2 41.1 84

85 Equipment 10.9 7.3 10.4 7.6 11.8 8.6 5.0 12.2 0.9 3.3 85

86 Intellectual property products 12.2 15.4 10.8 24.8 13.2 3.8 38.2 7.7 4.7 14.5 86

87 Financial assets 1.3 -2.1 0.8 0.7 -67.9 -121.6 -43.7 -33.2 -4.7 0.1 87

88 Monetary gold and SDRs 0.5 -0.9 0.4 0.5 -0.2 0.2 -1.0 -0.1 0.1 0.1 88

89 Currency and deposits 0.8 -1.2 0.3 0.2 -0.0 0.3 -0.2 -0.5 0.0 0.0 89

90 Corporate equities 0.0 0.0 0.0 0.0 -67.7 -121.9 -41.5 -32.4 -4.7 0.0 90

91 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 -0.3 -1.0 -0.2 -0.1 0.0 91

92 Liabilities 0.3 -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 0.1 92

93 SDR allocations 0.3 -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 0.1 93

94 Changes in net worth due to nominal holding gains/losses 115.7 115.3 116.8 93.3 1.2 -157.9 18.5 36.4 37.0 59.0 94

 Changes in balance sheet account

95 Change in net worth (lines 29+33+79+94) -351.1 -296.8 -123.3 -216.0 -663.6 -1471.5 -1468.5 -1275.3 -1085.5 -619.6 95

 Balance sheet account (end of period)

96 Total assets 2917.7 3070.2 3238.1 3415.1 4121.6 4229.2 4569.7 4478.1 4649.1 4910.2 96

97 Nonfinancial assets (3) 2277.1 2426.5 2579.8 2711.3 2829.2 2842.1 2957.5 3066.8 3132.3 3191.7 97

98 Structures 1088.2 1176.5 1266.6 1325.4 1369.8 1326.1 1352.5 1406.9 1439.7 1472.1 98

99 Equipment 498.3 520.7 550.7 576.7 616.2 649.8 680.9 711.0 725.2 732.2 99

100 Intellectual property products 690.6 729.3 762.4 809.3 843.2 866.2 924.1 948.9 967.4 987.4 100

101 Financial assets 640.6 643.7 658.3 703.8 1292.3 1387.1 1612.2 1411.3 1516.9 1718.5 101

102 Monetary gold and SDRs 13.6 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 55.2 102

103 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 103

104 SDR holdings 13.6 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 55.2 104
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Billions of dollars

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

105 Currency and deposits 67.9 68.0 62.8 88.9 404.8 234.9 385.2 144.8 155.9 221.8 105

106 Official foreign currencies 21.1 18.7 20.2 22.5 23.4 25.0 25.7 25.6 24.7 23.6 106

107 Reserve position in IMF (net) 19.6 8.1 5.2 4.4 7.8 11.5 12.6 30.3 34.4 31.0 107

108 Currency and transferable deposits 22.2 37.0 33.2 56.5 369.4 193.9 342.3 84.6 92.2 163.0 108

109 Time and savings deposits 2.4 1.4 1.7 2.8 1.6 1.9 2.0 1.7 2.0 1.5 109

110 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 110

111 Debt securities 0.0 0.0 0.0 0.0 54.4 197.0 150.1 31.9 0.6 0.6 111

112 Agency- and GSE-backed securities 0.0 0.0 0.0 0.0 54.4 196.4 149.2 31.1 0.0 0.0 112

113 Corporate and foreign bonds 0.0 0.0 0.0 0.0 0.0 0.6 0.9 0.8 0.6 0.6 113

114 Loans 274.3 271.2 294.3 301.1 340.1 506.8 641.7 778.3 914.4 1038.7 114

115 Short term 200.1 194.6 214.0 218.7 244.3 398.4 535.2 668.4 802.9 923.2 115

116 Consumer credit 86.1 89.8 108.7 115.7 135.1 223.1 356.2 484.7 616.8 729.8 116

117 Other loans and advances 114.0 104.8 105.3 103.1 109.1 175.3 179.0 183.7 186.2 193.4 117

118 Long term (mortgages) 74.2 76.6 80.3 82.4 95.8 108.4 106.6 109.9 111.5 115.5 118

119 Equity and investment fund shares 42.5 43.8 45.8 47.5 237.5 118.7 106.6 117.6 102.1 99.5 119

120 Corporate equities 0.0 0.0 0.0 0.0 188.7 67.4 49.9 57.8 39.9 35.1 120

121 Equity in international organizations 42.5 43.8 45.8 47.5 48.8 50.5 52.8 55.4 57.8 60.0 121

122 Equity in government-sponsored enterprises (1) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 122

123 Equity investment under Public-Private Inv. Program 0.0 0.0 0.0 0.0 0.0 0.9 3.8 4.4 4.4 4.4 123

124 Other accounts receivable 242.3 252.5 246.5 257.0 246.2 271.8 271.7 283.7 288.7 302.8 124

125 Trade receivables 61.8 71.0 59.4 60.6 64.7 43.6 42.9 47.7 50.3 53.6 125

126 Taxes receivable 91.2 91.6 96.1 105.0 119.4 133.9 144.3 152.8 158.6 165.8 126

127 Other (miscellaneous assets) 89.3 89.9 91.0 91.4 62.0 94.3 84.5 83.2 79.8 83.4 127

128 Total liabilities and net worth 2917.7 3070.2 3238.1 3415.1 4121.6 4229.2 4569.7 4478.1 4649.1 4910.2 128

129 Liabilities 6921.1 7370.3 7661.5 8054.5 9424.6 11003.7 12812.7 13996.3 15252.9 16133.6 129

130 SDR allocations 7.6 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 54.4 130

131 Currency and deposits 26.7 27.5 28.1 27.4 26.6 26.2 25.9 25.9 25.9 25.6 131

132 Debt securities 5253.1 5587.0 5806.1 6076.5 7379.0 8887.8 10533.8 11672.5 12853.0 13710.3 132

133 SDR certificates 2.2 2.2 2.2 2.2 2.2 5.2 5.2 5.2 5.2 5.2 133

134 Treasury securities including savings bonds 4370.7 4678.0 4861.7 5099.2 6338.2 7781.9 9361.5 10428.3 11568.9 12328.3 134

135 Federal agency securities 24.3 23.8 23.5 23.1 23.3 23.5 24.2 25.3 24.9 24.5 135

136 Nonmarketable securities held by pension plans 855.9 882.9 918.7 952.0 1015.3 1077.2 1142.9 1213.7 1254.1 1352.3 136

137 Loans (mortgages) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 137

138 Insurance, pension and standardized guarantee schemes 1459.1 1540.9 1606.0 1699.9 1746.4 1825.8 1985.3 2022.1 2085.0 2089.6 138

139 Insurance reserves 41.6 42.7 44.2 45.8 46.7 47.8 48.7 50.0 50.3 50.5 139

140 Retiree Health Care Funds 52.4 75.4 93.5 137.3 163.8 180.4 202.9 221.4 234.8 246.9 140

141 Claims of pension fund on sponsor 1365.2 1422.8 1468.3 1516.8 1535.8 1597.6 1733.7 1750.7 1800.0 1792.1 141

142 Other accounts payable 174.6 208.0 213.9 243.0 265.0 208.5 213.3 221.7 234.6 253.8 142

143 Trade payables 169.0 202.6 208.8 238.2 260.7 204.5 209.7 218.5 231.9 251.5 143

144 Other (miscellaneous liabilities) 5.6 5.4 5.1 4.9 4.3 4.0 3.6 3.2 2.8 2.3 144

145 Net worth -4003.4 -4300.1 -4423.4 -4639.4 -5303.0 -6774.5 -8243.0 -9518.2 -10603.8 -11223.4 145

Note. The Federal government accounts exclude Federal employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.

IMF International Monetary Fund

SDRs Special Drawing Rights
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

 Current account

 1 Gross value added 1137.7 1191.7 1250.3 1318.5 1385.2 1419.4 1454.2 1471.4 1491.0 1524.8 1

 2 Less: Consumption of fixed capital 143.8 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.8 238.4 2

 3 Equals: Net value added 993.9 1034.4 1080.0 1131.9 1185.0 1211.3 1241.5 1249.2 1259.1 1286.4 3

 4 Compensation of employees (paid) 1000.6 1041.8 1091.1 1150.4 1207.1 1232.6 1261.3 1266.5 1275.3 1300.7 4

 5 Wages and salaries 702.7 728.0 763.3 805.6 847.4 862.9 862.6 863.1 871.2 887.5 5

 6 Employers’ social contributions 297.9 313.7 327.8 344.9 359.7 369.7 398.7 403.5 404.1 413.2 6

 7 Operating surplus, net -6.7 -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -17.4 -16.2 -14.3 7

 8 Net national income/Balance of primary incomes, net 728.0 804.2 868.3 910.7 901.6 811.0 829.5 864.6 872.4 906.2 8

 9 Operating surplus, net -6.7 -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -17.4 -16.2 -14.3 9

10 Taxes on production and imports, receivable 768.7 835.1 892.7 940.0 947.9 934.8 960.4 994.0 1017.0 1041.6 10

11 Subsidies (paid) -0.4 -0.4 -0.4 -7.1 -3.0 -1.4 -1.6 -0.5 -0.5 -0.5 11

12 Property income (received) 76.8 88.6 107.2 117.9 105.7 87.8 82.6 79.2 78.6 79.7 12

13 Interest 66.4 76.8 94.7 104.2 91.0 74.4 69.1 64.8 63.0 63.2 13

14 Distributed income of corporations (dividends) 2.0 2.0 2.1 2.2 2.6 2.1 2.3 2.6 3.4 3.7 14

15 Rents on land and natural resources 8.5 9.8 10.4 11.5 12.1 11.2 11.2 11.7 12.3 12.7 15

16 Less: Uses of property income (interest paid) 110.5 111.8 120.1 121.5 127.0 188.8 192.1 190.7 206.6 200.3 16

17 Net national income/Balance of primary incomes, net 728.0 804.2 868.3 910.7 901.6 811.0 829.5 864.6 872.4 906.2 17

18 Plus: Current taxes on income, wealth, etc. (received) 289.2 331.4 361.7 381.4 381.0 333.4 345.3 374.3 407.8 430.2 18

19 Plus: Social benefits (received) 24.7 24.6 21.5 18.9 18.7 18.6 18.1 18.2 17.7 17.7 19

20 Less: Social contributions (paid) 385.0 406.6 403.9 433.3 455.4 492.6 523.8 530.4 540.6 565.4 20

21 Plus: Other current transfers (received) 422.4 436.4 438.9 460.9 477.8 566.1 612.0 582.1 556.2 570.8 21

22 Equals: Disposable income, net 1079.2 1190.0 1286.5 1338.6 1323.7 1236.4 1281.0 1308.9 1313.6 1359.4 22

23 Less: Final consumption expenditures 1187.6 1256.6 1325.9 1411.4 1488.7 1508.4 1518.3 1524.8 1546.1 1584.5 23

24 Equals: Net saving -108.4 -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -232.6 -225.1 24

 Capital account

25 Net saving less capital transfers -60.4 -16.2 18.4 -13.4 -101.8 -204.2 -160.6 -142.1 -158.3 -153.5 25

26 Net saving -108.4 -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -232.6 -225.1 26

27 Less: Capital transfers paid (net) -48.0 -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.8 -74.2 -71.6 27

28 Capital formation, net 145.0 143.5 155.0 167.9 172.5 167.2 149.7 127.6 108.5 98.4 28

 Gross fixed capital formation (acquisition of

29 produced nonfinancial assets) 277.5 290.8 314.3 340.8 358.8 363.0 351.9 340.5 331.6 327.8 29

30 Less: Consumption of fixed capital 143.8 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.8 238.4 30

31 Acquisition of nonproduced nonfinancial assets 11.3 10.0 11.0 13.6 13.8 12.3 10.6 9.2 8.7 9.0 31

32 Net lending (+) or borrowing (-), capital account (lines 25-28) -205.4 -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -266.9 -252.0 32

 Financial account

33 Net lending (+) or borrowing (-) (line 32) -205.4 -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -266.9 -252.0 33

34 Net acquisition of financial assets 172.4 253.9 208.6 240.4 -102.7 19.9 82.1 -30.9 74.5 1.7 34

35 Currency and deposits 4.4 18.7 22.5 32.4 26.1 29.5 -0.2 33.1 12.6 25.9 35

36 Currency and transferable deposits -3.5 15.8 5.5 -0.4 8.3 19.6 5.7 16.6 -9.2 7.4 36

37 Time and savings deposits 7.9 3.0 17.1 32.8 17.8 10.0 -5.9 16.5 21.8 18.6 37

38 Debt securities 96.4 155.7 112.0 137.0 -91.5 -39.5 58.3 -64.0 23.5 -48.2 38

39 Open market paper 2.9 -0.1 -1.1 -2.2 -22.0 -38.8 13.5 -12.3 -7.3 -8.8 39

40 Treasury securities 43.3 107.3 58.9 77.8 -46.3 -16.4 9.4 -34.9 45.3 -13.8 40

41 Agency- and GSE-backed securities (1) 37.1 35.7 39.9 45.1 -18.1 11.0 25.6 -14.6 -17.7 -25.9 41

42 Municipal securities 1.1 1.2 1.4 1.7 0.4 1.0 1.4 0.2 0.2 0.0 42

43 Corporate and foreign bonds 11.9 11.5 12.9 14.6 -5.6 3.7 8.4 -2.4 3.1 0.4 43

44 Loans 22.2 20.3 22.4 25.4 -16.2 5.0 13.7 -5.1 10.2 4.2 44

45 Short term 7.2 5.7 6.0 6.3 -12.0 -4.0 -0.6 -4.9 4.5 2.6 45

46 Long term (mortgages) 15.0 14.6 16.4 19.0 -4.1 8.9 14.3 -0.2 5.7 1.6 46

47 Equity and investment fund shares 21.6 21.5 24.2 27.6 -5.7 9.8 18.1 -1.9 7.6 3.0 47

48 Money market fund shares 12.8 13.6 15.6 18.0 2.7 10.2 14.7 1.9 5.1 2.6 48

49 Corporate equities 5.4 4.4 4.7 5.1 -7.8 -2.1 0.3 -3.5 1.6 0.2 49

50 Mutual fund shares 3.5 3.5 3.9 4.5 -0.6 1.8 3.1 -0.3 0.8 0.1 50

51 Other accounts receivable 27.9 37.7 27.5 18.1 -15.4 15.1 -7.8 6.9 20.5 16.8 51

52 Trade receivables 8.5 17.4 8.9 7.8 -15.4 -4.6 13.1 5.6 5.6 8.5 52

53 Taxes receivable 12.9 14.3 12.1 3.0 5.2 -5.8 1.0 2.5 8.6 3.6 53

54 Other (miscellaneous assets) 6.5 6.0 6.6 7.3 -5.2 25.5 -21.9 -1.2 6.3 4.8 54
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

55 Net incurrence of liabilities 332.7 231.2 210.0 300.1 220.2 455.9 383.5 314.7 345.1 274.6 55

56 Debt securities (municipals) 178.5 141.1 100.3 146.0 17.1 112.2 68.7 -53.6 -5.7 -39.4 56

57 Short term 22.2 -1.7 -8.2 16.8 4.6 7.8 -0.7 -10.6 3.8 -10.9 57

58 Other 156.3 142.8 108.5 129.2 12.5 104.4 69.3 -42.9 -9.4 -28.6 58

59 Loans (short term) 0.3 0.6 0.6 0.7 0.8 0.8 0.9 0.9 0.4 0.5 59

60 Insurance, pension and standardized guarantee schemes 124.0 57.6 74.8 116.6 163.7 304.0 275.5 329.0 311.6 273.8 60

 (Claim of pension funds on sponsor)

61 Other accounts payable (trade payables) 30.0 31.9 34.3 36.7 38.6 38.9 38.5 38.4 38.8 39.6 61

 Addendum:

62 Net lending (+) or borrowing (-), financial account (lines 34-55) -160.3 22.6 -1.4 -59.7 -322.9 -436.0 -301.4 -345.6 -270.7 -272.8 62

 Other changes in volume account

63 Total other volume changes -697.2 215.7 327.0 231.5 -976.2 361.4 43.6 -76.5 313.1 698.4 63

64 Disaster losses 0.0 -10.7 0.0 0.0 0.0 0.0 0.0 0.0 -7.6 0.0 64

65 Other volume changes -742.3 44.1 191.8 109.9 -927.6 426.1 34.8 -0.5 324.6 719.3 65

66 Less: Statistical discrepancy (lines 32-62) (2) -45.1 -182.4 -135.2 -121.5 48.6 64.7 -8.8 76.0 3.8 20.9 66

 Revaluation account

67 Nonfinancial assets 504.5 473.4 605.0 460.9 411.4 -105.1 175.7 392.7 227.5 225.3 67

68 Structures 501.0 472.2 602.7 457.9 403.0 -104.3 171.9 389.2 224.8 222.7 68

69 Equipment 2.6 0.4 1.1 0.6 6.6 -1.1 2.4 1.6 1.5 1.3 69

70 Intellectual property products 0.9 0.8 1.1 2.4 1.8 0.3 1.4 1.9 1.2 1.3 70

71 Equity and investment fund shares 11.8 5.5 16.9 5.2 -61.1 33.5 21.7 1.9 18.5 37.8 71

72 Changes in net worth due to nominal holding gains/losses 516.3 478.9 621.8 466.0 350.3 -71.6 197.4 394.6 245.9 263.1 72

 Changes in balance sheet account

73 Change in net worth (lines 28+32+63+72) -241.3 678.4 967.2 684.1 -727.7 85.6 80.5 176.1 400.7 808.0 73

 Balance sheet account (end of period)

74 Total assets 7720.6 8576.2 9550.7 10410.9 10815.9 10915.3 11330.3 11809.7 12232.2 12584.4 74

75 Nonfinancial assets (3) 5662.8 6259.0 7008.0 7623.1 8193.3 8243.0 8557.5 9068.6 9388.3 9703.2 75

76 Structures 5388.1 5976.8 6715.1 7314.8 7863.3 7903.6 8207.7 8711.9 9026.8 9335.6 76

77 Equipment 203.3 206.9 212.7 221.5 236.4 240.9 245.4 246.5 246.5 247.6 77

78 Intellectual property products 71.4 75.3 80.2 86.9 93.6 98.5 104.4 110.2 115.1 120.0 78

79 Financial assets 2057.9 2317.2 2542.7 2787.8 2622.6 2672.3 2772.8 2741.1 2843.9 2881.3 79

80 Currency and deposits 216.1 234.8 257.4 289.8 315.9 345.4 345.2 378.3 410.0 436.0 80

81 Currency and transferable deposits 50.3 66.0 71.5 71.1 79.4 99.0 104.6 121.3 117.4 124.8 81

82 Time and savings deposits 165.8 168.8 185.9 218.6 236.5 246.4 240.6 257.1 292.6 311.2 82

83 Debt securities 1061.8 1217.4 1329.4 1466.4 1374.9 1335.4 1393.7 1329.7 1353.2 1305.0 83

84 Open market paper 153.4 153.3 152.2 150.0 128.0 89.2 102.7 90.4 83.1 74.3 84

85 Treasury securities 405.0 512.3 571.2 649.1 602.8 586.4 595.8 560.8 606.1 592.2 85

86 Agency- and GSE-backed securities (1) 377.7 413.4 453.3 498.4 480.2 491.2 516.8 502.2 484.5 458.6 86

87 Municipal securities 5.7 6.9 8.4 10.0 10.5 11.5 12.9 13.1 13.4 13.4 87

88 Corporate and foreign bonds 120.0 131.5 144.4 158.9 153.4 157.1 165.5 163.1 166.1 166.5 88

89 Loans 268.6 288.9 311.3 336.2 318.3 319.8 330.4 323.0 331.3 334.3 89

90 Short term 124.3 130.0 136.0 142.3 130.3 126.3 125.7 120.8 125.3 127.9 90

91 Long term (mortgages) 144.3 158.9 175.3 193.9 188.0 193.4 204.7 202.2 205.9 206.4 91

92 Equity and investment fund shares 219.7 246.6 287.7 320.5 253.6 296.9 336.7 336.7 362.8 403.5 92

93 Money market fund shares 76.3 89.9 105.5 123.5 126.2 136.4 151.1 153.0 158.1 160.8 93

94 Corporate equities 107.6 116.0 133.1 141.9 91.1 112.0 126.9 124.6 138.5 163.6 94

95 Mutual fund shares 35.8 40.7 49.2 55.1 36.3 48.5 58.7 59.0 66.2 79.1 95

96 Other accounts receivable 291.7 329.4 356.9 374.9 359.9 374.9 366.8 373.4 386.6 402.4 96

97 Trade receivables 125.0 142.5 151.3 159.1 143.7 139.1 152.2 157.8 163.4 171.9 97

98 Taxes receivable 88.0 102.3 114.4 117.4 123.0 117.1 117.8 120.0 121.3 123.8 98

99 Other (miscellaneous assets) 78.6 84.6 91.1 98.5 93.2 118.7 96.8 95.6 101.9 106.7 99

100 Total liabilities and net worth 7720.6 8576.2 9550.7 10410.9 10815.9 10915.3 11330.3 11809.7 12232.2 12584.4 100

101 Liabilities 3208.7 3385.9 3393.2 3569.4 4702.0 4715.8 5050.4 5353.7 5375.5 4919.7 101
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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

 

102 Debt securities (municipals) 2438.2 2579.2 2679.6 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 2924.9 102

103 Short term 44.2 42.5 34.3 51.2 55.8 63.6 63.0 52.3 56.1 45.3 103

104 Other 2393.9 2536.7 2645.2 2774.4 2786.9 2891.3 2960.6 2917.6 2908.2 2879.6 104

105 Loans (short term) 10.0 10.6 11.2 11.9 12.7 13.5 14.4 15.3 15.7 16.2 105

106 Insurance, pension and standardized guarantee schemes 310.5 314.0 186.2 178.9 1254.9 1116.9 1343.4 1661.0 1649.3 1192.8 106

 (Claim of pension funds on sponsor)

107 Other accounts payable (trade payables) 450.1 482.0 516.2 553.0 591.6 630.5 669.0 707.4 746.2 785.8 107

108 Net worth 4511.9 5190.3 6157.5 6841.6 6113.9 6199.5 6279.9 6456.0 6856.7 7664.7 108

Note. The state and local government accounts exclude state and local employee retirement funds.

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes land and nonproduced nonfinancial assets.
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 Current account

 1 Foreign income from U.S. 2259.4 2627.5 3004.6 3257.9 3385.0 2613.9 3020.3 3379.5 3470.2 3494.8 1

 2 U.S. imports of goods and services 1800.7 2030.1 2247.3 2383.2 2565.0 1983.2 2365.0 2686.4 2762.5 2770.4 2

 3 U.S. income payments to rest of world 362.3 483.2 656.6 750.1 684.9 497.8 514.1 546.0 566.5 586.1 3

 4 Current taxes and trans. payments to rest of world 96.4 114.2 100.7 124.7 135.1 132.9 141.2 147.2 141.3 138.3 4

 5 Less: Foreign outlays to U.S. 1633.0 1884.7 2200.6 2540.3 2698.9 2236.6 2572.4 2899.0 2988.0 3072.6 5

 6 U.S. exports of goods and services 1181.5 1308.9 1476.3 1664.6 1841.9 1587.7 1852.3 2106.4 2194.2 2262.2 6

 7 U.S. income receipts from rest of world 451.4 575.8 724.2 875.7 856.9 648.9 720.0 792.6 793.8 810.4 7

 8 Equals: Net saving (current external balance) 626.4 742.9 804.0 717.6 686.1 377.3 447.9 480.5 482.2 422.2 8

 Capital account

 9 Net saving 626.4 742.9 804.0 717.6 686.1 377.3 447.9 480.5 482.2 422.2 9

10 Less: Net capital transfers 2.8 12.8 -2.0 -0.4 5.4 -0.6 -0.7 -1.6 6.5 -0.8 10

11 Less: Acquisition of nonproduced nonfinancial assets 0.0 0.1 -0.1 0.5 -0.0 0.0 -0.0 -0.0 -0.1 0.0 11

12 Net lending (+) or borrowing (-), capital account (lines 9-10-11) 623.7 730.0 806.1 717.5 680.7 377.8 448.6 482.1 475.7 423.0 12

 Financial account

13 Net lending (+) or borrowing (-) (line 12) 623.7 730.0 806.1 717.5 680.7 377.8 448.6 482.1 475.7 423.0 13

14 Net acquisition of U.S. financial assets 1227.1 1048.2 1479.7 1470.6 666.8 201.0 1087.5 1049.7 832.9 1191.5 14

15 Monetary gold and SDRs 0.0 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 15

16 Monetary gold 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16

17 SDR allocations 0.0 0.0 0.0 0.0 0.0 47.6 0.0 0.0 0.0 0.0 17

18 Currency and deposits 16.6 24.8 50.7 -78.3 492.9 -284.3 -27.5 343.1 -29.9 415.5 18

19 Currency 13.3 8.4 2.2 -10.7 29.2 12.6 28.3 55.0 57.1 37.7 19

20 Transferable deposits 9.1 6.4 9.2 5.2 34.8 -21.8 1.2 26.8 11.0 13.2 20

21 Time deposits 22.8 20.6 34.0 36.7 73.4 -73.3 4.9 47.3 37.9 52.5 21

22 Net interbank items due from U.S. banks -28.6 -10.6 5.3 -109.5 355.4 -201.9 -61.8 213.9 -136.0 312.2 22

23 Debt securities 804.0 737.2 968.7 856.6 404.7 160.4 639.4 203.6 495.7 554.6 23

24 Open market paper 16.5 20.8 54.9 16.5 -59.0 -48.4 -10.7 0.7 -0.1 -1.4 24

25 Treasury securities 366.9 245.1 150.3 165.3 711.6 554.4 740.4 355.3 589.7 431.3 25

26 Agency- and GSE-backed securities (1) 154.6 139.8 217.1 239.5 -231.9 -226.0 -66.6 -41.6 -73.6 -84.7 26

27 Municipal securities 6.5 3.0 5.4 10.7 5.9 7.7 13.1 0.6 -0.6 4.3 27

28 Corporate bonds 259.5 328.5 541.0 424.6 -21.8 -127.3 -36.8 -111.5 -19.7 205.2 28

29 Loans (short term) 196.7 72.7 66.0 174.9 -674.3 -98.7 72.2 126.5 -58.8 58.7 29

30 Security repurchases 190.5 41.4 59.7 72.6 -629.7 -54.8 92.4 92.6 -6.6 62.1 30

31 Loans to U.S. corporate business 6.3 31.3 6.2 102.3 -44.7 -44.0 -20.2 33.9 -52.2 -3.5 31

32 Equity and investment fund shares 207.8 201.9 388.6 496.8 436.9 369.7 384.8 359.4 414.3 150.9 32

33 Money market fund shares 4.1 0.1 4.1 19.0 23.7 7.2 -7.1 4.6 22.6 11.3 33

34 Corporate equities 46.3 83.6 118.7 243.9 130.0 192.7 127.8 44.0 126.8 -76.6 34

35 Mutual fund shares 11.5 5.6 22.7 12.7 -26.9 19.4 58.2 74.7 89.7 -20.0 35

36 Foreign direct investment in the United States 146.0 112.6 243.2 221.2 310.1 150.4 205.9 236.1 175.2 236.3 36

37 Other accounts receivable 2.0 11.6 5.7 20.6 6.7 6.3 18.6 17.1 11.6 11.9 37

38 Net incurrence of liabilities 775.0 349.7 949.8 1319.0 -98.4 173.0 819.3 633.0 386.3 819.8 38

39 SDR holdings 0.4 -4.5 0.2 0.2 0.1 48.2 0.0 -1.8 0.0 0.0 39

40 Currency and deposits 151.0 12.3 177.9 294.5 -326.3 -39.8 73.4 -197.3 -139.6 29.6 40

41 Official foreign currencies 0.6 0.6 0.7 1.0 1.3 0.7 0.5 -0.5 0.4 0.3 41

42 Reserve position in IMF (net) -3.8 -10.2 -3.3 -1.0 3.5 3.4 1.3 18.1 4.0 -3.4 42

43 U.S. private deposits 154.2 21.9 180.5 294.5 -331.0 -43.9 71.6 -215.0 -144.0 32.7 43

44 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 44

45 Debt securities 101.7 93.4 277.2 234.8 -211.9 236.6 124.7 128.2 152.6 228.4 45

46 Commercial paper 69.2 38.6 98.4 -69.3 -71.0 59.4 -2.7 -53.5 27.9 34.0 46

47 Bonds 32.5 54.8 178.9 304.1 -140.8 177.2 127.4 181.7 124.7 194.4 47

48 Loans (short term) 145.6 3.4 65.4 173.3 160.5 -471.8 222.0 240.7 -14.5 -51.7 48

49 Security repurchases 148.2 -7.1 55.9 123.2 -382.8 86.0 207.9 96.4 40.4 -83.5 49

50 Other loans and advances -3.6 -6.8 -7.4 -3.3 -1.5 0.5 0.3 1.4 5.6 1.4 50

51 Depository institution loans n.e.c. 1.0 17.3 16.9 29.4 15.1 -14.8 24.0 43.2 30.4 39.1 51

52 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 24.0 529.7 -543.5 -10.2 99.7 -90.9 -8.6 52
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53 Equity and investment fund shares 377.4 243.8 425.6 605.7 282.8 399.3 393.1 459.2 387.1 610.1 53

54 Corporate equities 84.8 186.7 137.3 147.8 -38.6 63.7 79.2 7.0 103.3 275.2 54

55 U.S. government equity in IBRD, etc. 2.0 1.3 2.0 1.7 1.4 1.7 2.3 2.6 2.4 2.2 55

56 U.S. direct investment abroad 316.2 36.2 244.9 414.0 329.1 310.4 301.1 419.1 333.0 349.5 56

57 Investment by holding companies -25.6 19.6 41.3 42.2 -9.1 23.5 10.6 30.6 -51.5 -16.9 57

58 Other accounts payable -1.1 1.3 3.5 10.7 -3.7 0.5 6.0 4.0 0.7 3.4 58

 Addendum:

59 Net lending (+) or borrowing (-), financial account (lines 14-38) 452.1 698.5 529.8 151.5 765.2 28.0 268.2 416.7 446.6 371.8 59

 Other changes in volume account

60 Total other volume changes -179.0 -34.9 -145.3 -537.5 75.3 -335.3 -181.8 -69.6 -34.8 -45.5 60

61 Other volume changes -7.5 -3.4 131.0 28.5 -9.2 14.5 -1.5 -4.2 -5.7 5.8 61

62 Less: Statistical discrepancy (lines 12-59) (2) 171.6 31.5 276.3 566.0 -84.5 349.8 180.3 65.5 29.1 51.2 62

 Revaluation account

63 Financial assets 228.1 -65.7 384.4 298.2 -1633.9 480.9 604.3 167.2 605.1 979.8 63

64 SDR allocations 0.3 -0.6 0.4 0.4 -0.2 0.2 -1.0 -0.2 0.1 0.1 64

65 Currency and deposits 12.4 -0.3 -0.0 5.1 0.0 0.0 4.2 0.1 -0.2 -0.7 65

66 Debt securities -22.5 -206.6 36.6 157.6 -148.8 64.0 132.3 293.5 120.4 -327.5 66

67 Open market paper -11.8 -1.7 1.6 -3.6 -1.8 0.1 -4.3 -0.2 0.2 0.4 67

68 Treasury securities -62.7 -74.3 -8.5 85.0 164.9 -136.8 47.9 190.3 -22.6 -207.8 68

69 Agency- and GSE-backed securities 46.0 4.7 35.0 79.1 57.3 -26.2 12.4 23.9 -3.4 -31.3 69

70 Corporate bonds 6.0 -135.3 8.5 -2.9 -369.3 226.9 76.3 79.4 146.3 -88.7 70

71 Equity and investment fund shares 237.7 142.1 347.3 134.8 -1484.6 416.3 468.7 -126.1 484.8 1307.8 71

72 Corporate equities 208.8 82.1 323.1 152.1 -1161.0 540.5 429.8 -56.8 429.1 1284.9 72

73 Mutual fund shares 13.1 9.4 19.3 12.1 -65.0 25.5 19.4 -8.3 35.4 76.6 73

74 Foreign direct investment in the United States 15.8 50.6 4.9 -29.3 -258.6 -149.6 19.6 -61.0 20.4 -53.7 74

75 Other accounts receivable 0.2 -0.3 0.2 0.3 -0.3 0.3 0.1 -0.1 0.0 0.0 75

76 Liabilities 591.7 642.4 949.7 1059.8 -2788.6 1381.3 797.1 -709.0 893.7 685.2 76

77 SDR holdings 0.5 -0.9 0.4 0.5 -0.2 0.2 -1.0 -0.1 0.1 0.1 77

78 Currency and deposits 37.3 -5.3 2.9 -0.4 0.2 -0.0 -25.2 -22.7 -1.8 -3.3 78

79 Official foreign currencies 2.3 -5.5 2.3 3.8 2.5 0.3 1.1 0.3 -2.3 -2.6 79

80 Reserve position in IMF (net) 0.8 -1.2 0.3 0.2 -0.0 0.3 -0.2 -0.5 0.0 0.0 80

81 U.S. private deposits 34.3 1.4 0.2 -4.4 -2.3 -0.7 -26.1 -22.5 0.4 -0.7 81

82 Nonofficial foreign currencies 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 82

83 Debt securities (corporate bonds) 29.6 -38.6 20.6 97.3 -193.7 179.3 102.5 54.2 148.2 -130.6 83

84 Equity and investment fund shares 524.1 687.6 925.5 962.1 -2594.7 1201.6 720.9 -740.4 747.3 819.1 84

85 Corporate equities 396.2 570.6 873.9 771.2 -2461.0 1183.2 825.8 -647.3 706.8 857.5 85

86 U.S. direct investment abroad 127.8 117.0 51.5 190.9 -133.7 18.5 -104.9 -93.1 40.4 -38.4 86

87 Other accounts payable 0.2 -0.4 0.3 0.3 -0.3 0.1 -0.0 0.0 -0.1 -0.1 87

88 Changes in net worth due to nominal holding gains/losses -363.6 -708.1 -565.2 -761.7 1154.7 -900.5 -192.9 876.2 -288.5 294.6 88

 Changes in balance sheet account

89 Change in net worth (lines 12+60+88) 81.0 -13.0 95.6 -581.7 1910.8 -857.9 73.9 1288.7 152.3 672.1 89

 Financial balance sheet account (end of period) (3)

90 Total financial assets 9699.1 10678.1 12803.2 14571.9 13699.4 14362.3 16054.1 17513.0 18951.0 21114.4 90

91 SDR allocations 7.6 7.0 7.4 7.7 7.5 55.4 54.4 54.2 54.3 54.4 91

92 Currency and deposits 535.5 560.1 610.7 537.5 1030.4 746.1 722.8 1066.0 1035.9 1450.7 92

93 Currency 272.0 280.4 282.6 272.0 301.1 313.8 342.1 397.1 454.2 491.9 93

94 Transferable deposits 13.3 19.7 28.9 34.2 69.0 47.2 48.4 75.2 86.2 99.4 94

95 Time deposits 202.9 223.2 257.2 298.9 372.4 299.2 308.2 355.6 393.4 445.1 95

96 Net interbank items due from U.S. banks 47.3 36.7 42.0 -67.5 287.9 86.0 24.2 238.1 102.1 414.2 96
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97 Debt securities 4449.6 4980.2 5985.4 6999.6 7255.5 7479.9 8251.6 8748.7 9364.8 9592.0 97

98 Open market paper 137.7 156.8 213.3 226.3 165.5 117.2 102.1 102.7 102.8 101.7 98

99 Treasury securities 1813.6 1984.4 2126.2 2376.4 3253.0 3670.6 4458.8 5004.4 5571.5 5794.9 99

100 Agency- and GSE-backed securities (1) 861.7 1006.1 1258.2 1576.8 1402.2 1150.0 1095.8 1078.2 1001.2 885.3 100

101 Municipal securities 26.0 29.0 34.4 45.1 51.0 58.7 71.7 72.4 71.8 76.1 101

102 Corporate bonds 1610.6 1803.8 2353.3 2775.0 2383.9 2483.5 2523.1 2491.0 2617.6 2734.0 102

103 Loans (short term) 794.9 867.6 1194.5 1369.5 789.6 671.9 744.0 874.6 815.8 874.5 103

104 Security repurchases 663.7 705.0 1025.8 1098.4 563.2 489.4 581.8 678.5 671.9 734.1 104

105 Loans to U.S. corporate business 131.2 162.5 168.8 271.1 226.4 182.5 162.3 196.1 143.9 140.4 105

106 Equity and investment fund shares 3866.0 4210.0 4946.0 5577.6 4529.8 5315.9 6169.4 6640.6 7539.7 8998.4 106

107 Money market fund shares 22.9 23.0 27.0 46.0 69.7 76.9 69.8 74.4 96.9 108.2 107

108 Corporate equities 1952.7 2118.4 2560.2 2956.2 1925.2 2658.4 3216.0 3397.2 3953.0 5161.3 108

109 Mutual fund shares 147.7 162.7 204.7 229.5 137.6 182.4 260.0 370.4 495.4 552.0 109

110 Foreign direct investment in the United States 1742.7 1906.0 2154.1 2345.9 2397.4 2398.2 2623.6 2798.7 2994.3 3176.9 110

111 Other accounts receivable 45.4 53.3 59.2 80.0 86.5 93.1 111.8 128.8 140.5 144.4 111

112 Total liabilities and net worth 9699.1 10678.1 12803.2 14571.9 13699.4 14362.3 16054.1 17513.0 18951.0 21114.4 112

113 Total liabilities 8035.3 9027.4 11056.9 13407.3 10624.0 12144.8 13762.7 13932.9 15218.6 16709.8 113

114 SDR holdings 13.6 8.2 8.9 9.5 9.3 57.8 56.8 55.0 55.1 55.2 114

115 Currency and deposits 1206.8 1213.8 1394.5 1688.6 1362.5 1322.7 1370.8 1150.8 1009.3 1035.6 115

116 Official foreign currencies 42.5 37.6 40.7 45.5 49.3 50.2 51.8 51.6 49.7 47.4 116

117 Reserve position in IMF (net) 19.5 8.0 5.0 4.2 7.7 11.4 12.5 30.1 34.2 30.8 117

118 U.S. private deposits 1142.2 1165.5 1346.1 1636.2 1302.9 1258.4 1303.9 1066.4 922.8 954.8 118

119 Nonofficial foreign currencies 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 2.6 119

120 Debt securities 1153.9 1208.8 1506.6 1838.7 1433.2 1849.1 2076.3 2258.7 2559.5 2657.3 120

121 Commercial paper 345.3 384.0 482.3 413.0 342.0 401.3 398.6 345.1 373.0 407.0 121

122 Bonds 808.6 824.8 1024.3 1425.7 1091.2 1447.8 1677.6 1913.6 2186.5 2250.4 122

123 Loans (short term) 519.4 522.8 718.2 863.0 1127.2 621.9 845.4 1090.7 1081.9 1030.2 123

124 Security repurchases 388.1 381.0 566.9 681.1 402.3 454.8 663.7 764.7 805.1 721.6 124

125 Other loans and advances 38.2 31.4 23.9 20.7 18.9 19.3 19.6 21.0 30.2 31.6 125

126 Depository institution loans n.e.c. 93.1 110.4 127.4 137.3 152.4 137.5 162.0 205.2 237.7 276.7 126

127 Nonoff. foreign currencies (swap lines) 0.0 0.0 0.0 24.0 553.7 10.3 0.1 99.8 8.9 0.3 127

128 Equity and investment fund shares 5109.0 6040.4 7391.4 8959.2 6647.3 8248.2 9362.3 9322.6 10457.0 11886.2 128

129 Corporate equities 2560.4 3317.7 4329.0 5248.0 2748.4 3995.3 4900.2 4501.4 5311.5 6444.2 129

130 U.S. government equity in IBRD, etc. 42.5 43.8 45.8 47.5 48.8 50.5 52.8 55.4 57.8 60.0 130

131 U.S. direct investment abroad 2498.5 2651.7 2948.2 3553.1 3748.5 4077.4 4273.6 4599.5 4972.9 5284.0 131

132 Investment by holding companies 7.5 27.1 68.4 110.6 101.5 125.1 135.6 166.3 114.7 97.9 132

133 Other accounts payable 32.7 33.6 37.4 48.4 44.4 45.1 51.1 55.1 55.7 45.3 133

134 Net worth (external account) 1663.7 1650.7 1746.3 1164.7 3075.4 2217.5 2291.3 3580.1 3732.4 4404.5 134

(1) Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System,

the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.

(2) The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy

reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.

(3) Excludes nonfinancial assets, including nonproduced nonfinancial assets.

IBRD International Bank for Reconstruction and Development

IMF International Monetary Fund

SDRs Special Drawing Rights

n.e.c. Not elsewhere classified